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belka [17]
4 years ago
6

Sarah is planning a party at a party hall. The meal option is $50 per person and includes the hall for free. The hall-only optio

n is $1,500 but allows an external caterer, which charges $30 per person. Sarah plans to invite 40 people. Which is a better cost comparison
Business
1 answer:
Tomtit [17]4 years ago
4 0

Answer:

meal option  is cheaper with total cost = $2000 and hall only option is total cost  $2700

Explanation:

given data

The meal option = $50 per person.

Hall free = $ 0 per person

total guest = 40

hall-only option = $1,500

external caterer = $30 per person

solution

when we go for meal option than hall free so total cost will be as

total cost = total guest  × $50 per person

total cost = 40 × $50

total cost = $2000

and

when we go for hall only option than total cost will be

total cost = total guest   × external caterer charge + hall-only option

total cost =  40  × $30 + $1500

total cost =   $2700

so

meal option  is cheaper with total cost = $2000 and hall only option is total cost  $2700

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Mike’s Motors Corp. manufactures motors for dirt bikes. The company requires a minimum $30,000 cash balance at each month-end. I
Stolb23 [73]

Answer:

Mike's Motors Corp.

Cash Budget for July, August, and September:

                                          July           August        September       Total

Beginning balance        $32,000     $30,000         $30,000       $32,000

Cash receipts                  83,000      109,000          148,000       340,000

Bank borrowings            26,000           0                   0                  26,000

Total receipts                 141,000       139,000         178,000      $398,000

Cash Payments              111,000        97,900          125,400        334,300.00

Interest                                                    520                 308.40          828.40

Loan repayment                                 10,580            15,420          26,000.00

Total payments              111,000      109,000            141,128.40    361,128.40

Minimum cash balance 30,000       30,000             36,871.60     36,871.60

Explanation:

a) Data and Calculations:

            Cash  Receipts   Cash  Payments

July            $ 83,000        $ 111,000

August        109,000           97,900

September 148,000          125,400

Minimum cash balance = $30,000

Interest on borrowings = 2% per month

July ending:

Borrowing to maintain minimum cash balance = $26,000

Interest for August = $520 ($26,000 * 2%)

August ending:

Loan balance = $15,420 ($26,000 - $10,580)

Interest for September = $308.40 ($15,420 * 2%)

8 0
3 years ago
Rami Essaid worked for a large computer security firm. As part of his employment agreement, he had been told about and initialed
BartSMP [9]

Unfortunately, since Rami has already signed a non-compete clause for six months following his resignation from his previous workplace, he must stop operating his business is he does not want to be sued by them. This is because (D) the non-compete clause is enforceable.

Most non-compete clause can only be challenged if Rami’s business operations or his past employers are located in a state that does not support non-compete agreements, such as California.

3 0
3 years ago
Identify which of the following statements are true for the corporate form of organization. (You may select more than one answer
Likurg_2 [28]

Answer:

a) Ownership rights cannot be easily transferred. - True

b) Ownership rights cannot be easily transferred.  - False

c) Owners have unlimited liability for corporate debts.  - False

d) Capital is more easily accumulated than with most other forms of organization.  - True

e) Corporate income that is distributed to shareholders is usually taxed twice.  - True

f) It is a separate legal entity. It has a limited life.  - False

g) Owners are not agents of the corporation. - True

Explanation:

A corporation is an organization established by the issuance (and purchase) of shares. It is identified as a separate legal entity from the owners and the liabilities of the owners is limited to the amount invested (in form of shares or stock). Ownership rights can easily be transferred through various means. One of such means is the sale of shares or stock in the secondary market.

The company pays company income tax on income earned while the shareholders (owners) also paid tax on dividend income. It has an unlimited life and is expected to continue to perpetuity.

The board of directors, managers of the company are the agents of the corporation acting on behalf of the owners.

5 0
3 years ago
Decision Case F:2-1 Your friend, Dean McChesney, requested that you advise him on the effects that certain transactions will hav
Roman55 [17]

Answer:

A-Plus Travel Planners

Analysis of transactions:

A. Cash $10,000 (Increase Assets) Common Stock $10,000 (Increase Equity)

B. Office Supplies $300 (Decrease Profit) Cash $300 (Decrease Assets)

C. Advertising expense $700 (Decrease Profit) Cash $700 (Decrease Assets)

D. Salary expense $1,400 (Decrease Profit) Rent Expense $1,000 (Decrease Profit) Cash $2,400 (Decrease Assets)

E. Accounts Receivable $8,800 (Increase Assets) Service Revenue $8,800 (Increase Profit)

F. Cash $1,200 (Increase Assets) Accounts Receivable $1,200 (Decrease Assets)

Explanation:

a) Data and Calculations:

Expected net income = $6,000

Service Revenue        $8,800

Expenses:

Office Supplies $300

Advertising         700

Admin. Salary   1,400

Rent                  1,000 $3,400

Net income                $5,400

Expected profit           6,000

Required improvement $600

b) To achieve profit target of $6,000 under the current revenue profile, A-Plus Travel Planners must decrease expenses by at least $600.  Alternatively, it can increase its revenue by the same amount, while maintaining its costs at current level.

8 0
3 years ago
If the prices of X and Y are $2 and $4 per unit, respectively, and this consumer has $10 in income to spend, to maximize total u
beks73 [17]

Answer:

In this case the consumer needs to buy one unit of X good and 2 units of Y goods to maximize total utility.

Explanation:

In order to maximize total unity, the consumer needs to buy buy one unit of X good and 2 units of Y. This combination of goods will give the total satisfaction to the consumer with its available resources.

Utility is a meaning, which is used in economics. Which is used for satisfaction and fulfillment. That a consumer receives from the consumption of a particular product or service.

Total utility is the overall or total satisfaction a customer receives through taking a specific good or service.

7 0
4 years ago
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