Answer and Explanation:
The computation is shown below;
But before reaching to the final answers, first do the following calculations
Cash collected $108000
Add Services performed in 2017(not collected) $36000
less Services performed in 2016(collected in 2017) $25000
Revenue for 2017 $119,000
Cash paid in 2017 $72,000
Add Expense incurred not yet paid for 2017 $42000
Less Expense paid for 2016 -$30000
Expense for 2016 $84000
Now
a. Cash basis
Revenue $108000
Less Expenses -$72,000
Net income $36000
b. Accrual basis
Revenue for 2017 $119,000
Less Expenses for 2017 $84,000
Net income $35,000
Answer:
Instructions are listed below
Explanation:
Giving the following information:
The owner thinks that 10,000 pizzas could be sold per month by cutting the selling price per pizza from $ 5.50 a pizza to $ 5.00.
Total revenues – Total costs = Monthly profit 5,000 pizzas 13750 – 8000 =
I will assume that at $5.50 the total sales in units are 5000. And that the variable cost per unit is $2.75 ($13750/5000) and fixed cost are $8000
Actual profit= (5000*5.5- 5000*2.75) - 8000= $5750
New price profit= (10000*5 - 10000*2.75) - 8000= $14500
The point estimate or p hat is a single value that shows the best estimation of a certain parameter among a population.
To calculate point estimate, we divide the parameter by the whole population.
In case of this problem:
p hat = 51/84 = 0.607
To get the percent, we multiply the output by 100:
% of point estimate = 0.607 x 100 = 60.7%
Answer:
If Mo pays cash, the cost of the purchase will be $140.
If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $135.80.
Explanation:
If Mo pays cash, it implies that she does not get the 3% discount she is entitled to, with the use of her credit card. Therefore, she will bear the full cost. However, if she uses the credit card, the discount is $4.20 ($1540 * 97%) and she will pay only $135.80 as the discounted price of the electronic reader.
<span>C.
Fixed Costs. Fixed costs are incurred regardless of the number of units of a
product are produced or sold on a given period. Fixed costs are expenses
incurred and remain unchanged within a relevant period. These costs are fixed
in relation to the quantity of production for a certain period.</span>
