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RSB [31]
3 years ago
13

The speed of your automobile has a huge effect on fuel consumption. Traveling at 65 miles per hour​ (mph) instead of 55 mph can

consume almost​ 20% more fuel. As a general​ rule, for every mile per hour over​ 55, you lose​ 2% in fuel economy. For​ example, if your automobile gets 30 miles per gallon at 55​ mph, the fuel consumption is 21 miles per gallon at 70 mph. If you take a 400-mile trip and your average speed is 80 mph rather the posted speed limit of 70 mph, what is the extra cost of fuel if gasoline costs $ 3.00 per gallon?
Business
1 answer:
denis23 [38]3 years ago
7 0

Answer:

The extra cost of gasoline is $16.65

Explanation:

Let’s write the complete question;

The speed of your automobile has a huge effect on fuel consumption. Traveling at 65 miles per hour (mph) instead of 55 mph can consume almost 20% more fuel. As a general rule, for every mile per hour over 55, you lose 2% in fuel economy. For example, if your automobile gets 30 miles per gallon at 55 mph, the fuel consumption is 21 miles per gallon at 70 mph.

If you take a 400-mile trip and your average speed is 80 mph rather the posted speed limit of 70 mph, what is the extra cost of fuel if gasoline costs $ 3.00 per gallon? your car gets 30 miles per gallon (mpg) at 60 mph.

solution;

In this question, we are to calculate the extra cost of gasoline resulting from exceeding the supposed speed limit on a trip by a car given the cost of gasoline.

We proceed as follows;

Driving the speed limit:

Speed: 70 miles per hour (mph)

Fuel efficiency: 30 * [1-(70-60)*(2%)]= 30* 0.8 =24 mpg

Fuel amout for you 400-mile trip: 400/24= 16.67 gallon

Cost of fuel: 16.67 * $3= $50.01

Cost of time: 400/70 = 5.71 hrs

Exceeding the speed limit:

Speed: 80 miles per hour (mph)

Fuel efficiency: 30 *[1- (80-60)*(2%) ]= 30* 0.6 =18 mpg

Fuel amout for you 400-mile trip: 400/18= 22.22 gallon

Cost of fuel: 22.22 * $3= $66.66

Now to find the extra cost of fuel, we simply subtract the cost of fuel while exceeding the speed limit from the cost of fuel while driving within the speed limit.

That would be $66.66 - $50.01 = $16.65

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For high school graduation, Ryan’s family is giving him a choice between two presents that are both worth $900. He can choose ei
yulyashka [42]

Answer: The Mexican trip with his best friends

Explanation:

Ryan cannot choose both options and thus has to make a decision of which option to take. Therefore he automatically sacrifices the other option. This type of decision is relevant and is known as a relevant cost. Relevant costs are costs that differ between alternatives, and thus influence the decision that you will make.

Opportunity cost is a type of relevant cost. This is the option that is given up / sacrificed when one option (laptop) is chosen over another (Mexican trip). In this case the opportunity cost is the Mexican trip when the laptop is chosen.

3 0
3 years ago
Garcia Co. owns equipment that cost $81,600, with accumulated depreciation of $43,200. Garcia sells the equipment for cash. Reco
Tema [17]

Answer:

1. Cash                                                          Debit    $ 47,000

 Accumulated Depreciation equipment   Debit  $ 40,800

 Gain on sale of equipment                       Credit                       $  11,000

 Equipment                                                  Credit                      $ 76,800

To record sale of equipment for $ 47,000 and gain on sale of $ 11,000

2. Cash                                                          Debit    $ 36,000

  Accumulated Depreciation equipment   Debit   $ 40,800

  Equipment                                                 Credit                          $ 76,800

To record sale of equipment for $ 36,000

3.  Cash                                                          Debit    $ 31,000

  Accumulated Depreciation equipment   Debit    $ 40,800

  Loss on sale of equipment                       Debit    $   5,000

  Equipment                                                  Credit                          $ 76,800                        

To record sale of equipment for $ 31,000 and loss on sale of $ 5,000

Explanation:

Computation of net book value

Cost of equipment                                                                             $ 76,800

Less: Accumulated depreciation                                                     $ 40,800

Net book value                                                                                  $ 36,000      

In first step where the equipment is sold of $ 47,000, the differential between the sale value and the net book value is the gain on sale and is credited in the accounting entry.

In the second step, where the equipment is sold for $ 36,000, the sale proceeds is exactly equal to the net book value and no gain or loss is recorded.

In the third step, the equipment is sold for $ 31,000 and the differential  between the net book value and the sale proceeds is a loss and recorded as a debit in the accounting entry

4 0
3 years ago
Estes Park, Inc., has declared a dividend of $6.20 per share. Suppose capital gains are not taxed, but dividends are taxed at 30
pickupchik [31]

Answer:

the ex-dividend price is $108.66

Explanation:

The computation of the ex-dividend price is shown below:

The Aftertax dividend is

= Dividend × (1 - tax rate)

= $6.20 (1 - 0.30)

= $4.34

Now the exdividend price is

= Selling price of a share - after tax dividend

= $113 - $4.34

= $108.66

hence, the ex-dividend price is $108.66

We simply applied the above formula so that the correct value could come

And, the same is to be considered  

5 0
3 years ago
StayWell Health Insurance is offering a plan with a monthly premium of $250, a
VARVARA [1.3K]

The most Sheldon should pay in one calendar year is $9,750

Deductible is a term used in Insurance. The amount of deducible refrain the Insurer from liability until a certain level of liability is reached.

Given that :

Premium = $250

Deductible = $3500

Maximum out-of-pocket expenses = $6000.

Then, the maximum he should pay in one calendar year is:

= $250 + $3,500 + $6,000

= $9,750

Therefore, the maximum he should pay in one calendar year is $9,750

Learn more about insurance plan here : brainly.com/question/25676329

4 0
2 years ago
Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. Curr
SpyIntel [72]

Answer:

Cost of Procedure 1: <u>$268,800</u>

Cost  of Procedure 2: $<u>134,400 </u>

Explanation:

Sales  $480,000.

Gross Profit 25% of $480,000.= $ 120,000

Cost of Goods Sold = 480,000-120,000= $ 360,000

Procedure 1 costs twice as much as Procedure 2

Process 1 costs $ 240,000  Process 2 costs $ 120,000

To get a gross profit of 30% the sales would increase by

0.25          480,000

0.3                 x

x= 480,000*0.3/0.25= $576,000

Sales  $576,000.

Gross Profit 30% of $576,000.= $ 172,800

Cost of Goods Sold = 576,000-172,800= $ 403,200

Procedure 1 costs twice as much as Procedure 2

Process 1 costs $ 268,800  Process 2 costs $ 134,400

Procedure 1

1. Cost makeup of Procedure 1:

45% direct materials, = 45% of $ 268,800 = $ 120,960

40% direct labor, = 40% of $ 268,800 = $ 107,520

<u>15% overhead.= 15% of $ 268,800 = $ 40,320                  </u>

<u>Total                                                      $268,800               </u>

<u />

Procedure 2

2. Cost makeup of Procedure 2

25% direct materials,=25% of $ 134,400 = $ 33,600

50% direct labor,= 50% of $ 134,400 = $ 67,200  

<u>25% overhead.=25% of $ 134,400 = $ 33,600              </u>

<u>Total                                                       134,400</u>

1. Cost makeup of Procedure 1:

Direct materials, $ 120,960

Direct labor,   $ 107,520

<u> Overhead. $ 40,320                  </u>

<u>Total        $268,800               </u>

<u />

Procedure 2

2. Cost makeup of Procedure 2

Direct materials $ 33,600

Direct labor, $ 67,200  

<u> Overhead. $ 33,600        </u>

<u>Total         134,400            </u>

6 0
3 years ago
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