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Effectus [21]
3 years ago
10

A Restaurant is open only for 25 days in a month. Expenses for the restaurant include raw material for each sandwich at $4.00 pe

r slice, $1,234.00 as monthly rental and $225.00 monthly as insurance. They consider the cost of lost sales as $5.00 per item. They are able to sell any leftover sandwiches for $3. They prepares 200.00 sandwiches and sells them at a rate of $15.00/sandwich. Today there was a party at nearby office so the demand for sandwiches rose to 228.00. How much profit did the restaurant earn today?
Business
1 answer:
Montano1993 [528]3 years ago
4 0

Answer:

   profit for the day           $ 2,001.64

Explanation:

We should subtract from the revenue of the 200 sandwhich prepared and sold the variable cost to made the sandwhihc the loss for the lost sales and the proportional fixed cost considered are allocated among the 25 days which the restaurant is open.

200 x $15 dollars =             $ 3,000

28 x $5 loss sales:              $   (140)

variable cost: 200 x $4       $  (800)

proportional fixed cost:

(1,234 + 225) / 25 =          <u>   $ (58.36)     </u>

     profit for the day           $ 2,001.64

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Explanation:

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6 0
3 years ago
If bonds were issued at a premium, then the contractual interest rate was greater was than the market interest rate. True False
7nadin3 [17]

Answer:

TRUE

Explanation:

5 0
3 years ago
The term inflation is used to describe a situation in which
Alex73 [517]

Answer: The correct answer is Choice A.

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3 0
3 years ago
If the current exchange rate is 1 euro to 1.5 U.S dollars, according to the theory of purchasing power parity, a haircut that co
STALIN [3.7K]

Answer: (1) 10 euros (2) 15dollars

Explanation:

S= P1 /P2

where:

S= Exchange rate of currency 1 to currency 2

P1 = Cost of good X in currency 1

P2 = Cost of good X in currency 2

(1) s = 1.5, P1 = 15 dollars, P2 = ???

so,

1.5 = 15 / P2

P2 = 15/1.5 = 10 euros

Hence, according to the theory of purchasing power parity,

The price of a haircut that cost 15 dollars in Dallas will be 10 euros in Paris.

(2) S = P1/P2

taking 1 euro to 1.5dollars exchange,

1.5 = P1/P2 but P2 = 10 euros

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A wheel of French cheese that costs 20 euros in Paris should cost 15dollars in Dallas

4 0
3 years ago
The following is a December 31, 2021, post-closing trial balance for Almway Corporation.
balandron [24]

Answer:

TOTAL ASSETS $1,043,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

Explanation:

Preparation of a balance sheet for the Almway Corporation at December 31, 2021.

ALMWAY corporation

Balance sheet at December 31,2018

ASSETS

Current Assets

Cash and cash equivalent$47,000

($79,000-$32,000)

Short term investment $97,000

($144,000-$47,000)

Account receivable net of allowances $77,000

Inventories $217,000

Prepaid insurance $5,000

TOTAL CURRENT ASSETS $443,000

INVESTMENT

Marketable securities $47,000

Land held for sale $42,000

Restricted cash $32,000

TOTAL INVESTMENT $121,000

Plant property and equipment

Land $82,000

($124,000-$42,000)

Building $437,000

Accumulated deperation Building ($117,000)

Equipment $127,000

Accumulated deperation Equipment ($77,000)

NET PLANT PROPERTY AND EQUIPMENT $452,000

INTANGIBLE ASSETS

Patents ( net of amortization) $27,000

TOTAL ASSETS $1,043,000

LIABILITIES AND STOCKHOLDERS EQUITY

Current liabilities

Account payable $109,000

Interest payable $37,000

Note payable due in 6 months $47,000

Current maturity of long term debt notes payable $13,400

TOTAL CURRENT LIABILITY $206,400

LONG TERM LIABILITIES

Notes payable $120,600

($181,000-$47,000-$13,400)

Bond payable $257,000

TOTAL LONGTERM LIABILITIES $377,600

SHAREHOLDER EQUITY

Authorised 500,000 shares

Issued and outstanding shares $351,000

Retained earnings $108,000

Total shareholders equity $459,000

TOTAL LIABILITIES AND SHAREHOLDERS EQUITY $1,043,000

6 0
3 years ago
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