Based on the following data relating toThe Lucy Township: Printing and binding used equipment for servicing all of Lucy's depart
ments . and agencies on a cost-reimbursement basis - $120,000 Equipment used for supplying water to Lucy's residents - $ 900,000 Amounts receivable for completed sidewalk to be paid for in installments by property owners - $950,000 Cash received from federal government, restricted to highway maintenance which is accounted for in a separate fund - $995,000 1. What amount must be accounted for in a special revenue fund or funds? 2. What amount must be accounted for in an enterprise fund? 3. What amount might be accounted for in an internal service fund?
1 answer:
Answer:
1. What amount must be accounted for in a special revenue fund or funds? = $995000
2. What amount must be accounted for in an enterprise fund? = $900000
3. What amount might be accounted for in an internal service fund? = $120000
Explanation:
kindly check the attachment for detailed explanation on how the answers were gotten.
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Answer:
<u>less profit per unit</u>
Explanation:
- If a customer normally orders 1,000 units, then total profit = $100-$60 * 1000 units = <u>$40,000.</u> (i.e we subtracted cost from selling price to determine profit per unit, and then multiply by the total unit ordered to get total profit)
- If you drop the price 20% out of $100 ($100 -
$80) for the order of 2000 units, then profit = $80-$60 * 2000 = <u>$40,000.</u> (i.e we reduced selling price by 20% and then substracted cost, $60 from selling price to determine profit per unit, and then multiply by the total unit ordered to get total profit)
Although the total profit is the same, we observe that the profit per unit is lesser on the larger order, which has a profit per unit of $20 ($80-$60), while the smaller order has $40 ($100-$60) per unit profit.