Miguel bought a desktop computer and a laptop computer. Before finance charges, the laptop cost $450 less than the desktop. He p
1 answer:
Answer
Find out the how much did each computer cost before finance charges .
To proof
Let us assume that the price of the desktop computer be x .
Let us assume that the price of the laptop computer be y .
As given
the laptop cost $450 less than the desktop.
than the equation is written
y = x - 450
As given
He paid for the computers using two different financing plans.
For the desktop the interest rate was 7% per year,
the laptop it was 5.5% per year.
The total finance charges for one year were $279.
7 % is written in the decimal form
= 0.07
5.5 % is written in the decimalform
=0.055
than the equation becomes
0.07x + 0.055y = 279
simplify the above
we get
70x + 55y = 279000
put y = x - 450 in the equation
we get
70x + 55 ( x - 450 ) = 279000
70x + 55x - 24750 = 279000
125x = 303750
x = $ 2430
put in the y = x - 450
y = 2430- 450
y =$ 1980
Therefore the desktop cost $ 2430 before finance charge.
the laptop cost $ 1980 before finance charge.
Hence proved
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Answer:
a) $190,000
b) $70,000
c) $65,000
d) $81,000
e) $60,000
f) $133,000
Step-by-step explanation:
Please refer to the attached table where known and unknowns are given as per question.
(a) Costs of Goods available for sale:
The amount of cost of goods available for sale is calculated by adding the purchases and beginning inventory.
Costs of Goods available for sale = Beginning Inventory + Purchases
Costs of Goods available for sale = $80,000 + $110,000
Costs of Goods available for sale = $190,000
(b) Ending Inventory:
The amount of ending inventory is calculated by subtracting the cost of goods sold from the costs of goods available for sale.
Ending Inventory = costs of goods available for sale - cost of goods sold
Ending Inventory = $190,000 - $120,000
Ending Inventory = $70,000
(c) Purchases:
The amount of purchases is calculated by subtracting the beginning inventory from the cost of goods available for sale.
Purchases = costs of goods available for sale - beginning inventory
Purchases = $114,000 - $49,000
Purchases = $65,000
(d) Cost of Goods sold:
The amount of cost of goods sold is calculated by subtracting the ending inventory from the cost of goods available for sale.
Cost of Goods sold = costs of goods available for sale - ending inventory
Cost of Goods sold = $114,000 - $33,000
Cost of Goods sold = $81,000
(e) Beginning Inventory:
The amount of beginning inventory is calculated by subtracting the purchases from the cost of goods available for sale.
Beginning Inventory = costs of goods available for sale - Purchases
Beginning Inventory = $160,000 - $100,000
Beginning Inventory = $60,000
(f) Cost of Goods sold:
The amount of cost of goods sold is calculated by subtracting the ending inventory from the cost of goods available for sale.
Cost of Goods sold = costs of goods available for sale - ending inventory
Cost of Goods sold = $160,000 - $27,000
Cost of Goods sold = $133,000
