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leva [86]
3 years ago
10

Maggie’s mom agrees to let Maggie buy small gifts for some of her friends. Each gift costs $4. Maggie’s mom gave her a budget of

$19. When Maggie went online to order the gifts, she discovered there was a $7 shipping fee no matter how many gifts she bought. Use arithmetic (without variables) to determine how many gifts Maggie can buy. Record your steps. Write an algebraic equation to determine how many gifts Maggie can buy with $19, and solve your equation. Record your steps. Compare and contrast the two methods of solving the problem. 6-79.
Business
1 answer:
solmaris [256]3 years ago
5 0

Maggie can buy 3 gifts

Solution:

Total budget $19

Each gift costs $4

Shipping fee $7

a.  Total budget — Shipping fee = $19 - $7 = $12  

Maggie’s got $12 more

Each gift costs $4  

Number of gifts that Maggie can buy = \frac{12}{4}  =3  

b.   Let x represent the number of gifts.  

                      19 = 7 +4x

       Subtract -7 from both sides

             19 - 7= 7 + 4x - 7

            Now Simplify,

                   12 = 4x

         Divide both sides by 4

                   \frac{12}{4} = \frac{4x}{4}

                      x = 3  

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Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to
slega [8]

Answer:

Contribution is sales revenue less variable cost. In multiple products environment, it is important that the producer have information about the performance of each product. This is useful for decision making purpose. See income statement below

Explanation:

An income statement showing contribution would suffice:

       Royal Lawrence Company

                                                                  Income statement

                                                      Weedban Greengrow Total

                                                                    $                   $                   $

Sales (sp/unit × unit)                            315,000   900,000         1,215,000

Variable cost (Vc/unit × units)              (<u>98,000)</u>      (<u>325,000)</u>  (<u>423,000)</u>

Contribution                                           217,000      575,000   792,000

Specific fixed cost                              <u>  (132,000)</u>   <u> (37,000) </u> <u>(169,000)</u>

Product profit                                   85,000     538,000   623,000

Common Fixed cost                                                     <u>(100,000)</u>

Total profit                                                                     <u>523,000 </u>

4 0
3 years ago
Read 2 more answers
To record a customer's check in full payment for a sale that was made the prior month, the company should debit the ____________
bearhunter [10]

To record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

<h3>Payable cash account</h3>

Based on the information given the appropriate journal entry to record a customer's check in full payment for a sale is:

Journal entry

Debit Payable Cash account

Credit Sales accounts

(To record customer's check in full payment)

Inconclusion to record a customer's check in full payment for a sale that was made the prior month, the company should debit the payable cash account.

Learn more about payable cash account here:brainly.com/question/4656883

6 0
2 years ago
Calculating Average Operating Assets, Margin, Turnover, and Return on InvestmentEast Mullett Manufacturing earned operating inco
gladu [14]

Answer:

1. $425,000

2. 10.78%

3. 1.25

4. 13.5%

Explanation:

The computations are shown below:

1. For Average Operating Assets

Average operating assets = (Beginning Operating Assets + Ending Operating Assets) ÷ 2

= ($390,000 + $460,000) ÷ 2

= $425,000

2. For margin

Margin = Operating Income ÷ Sales × 100

            = $57,250 ÷ $531,250 × 100

            = 10.78%

3. For turnover:

Turnover = Sales ÷ Average Operating Assets

               = $531,250 ÷ $425,000

               = 1.25

4. For Return on investment:

Return on investment  = Operating Income ÷ Average Operating Assets

                                       = $57,250 ÷ $425,000

                                       = 13.5%

6 0
3 years ago
What’s the difference between a market economy and a command economy
loris [4]
The activity in a market economy is unplanned and determined by the supply and demand of goods and services. The main example of a market economy is capitalism. Whereas, a command economy is organised by a centralised government which owns most, of not all, businesses. The main example of a command economy is communism.
3 0
3 years ago
The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 652,000 Direct l
Tanzania [10]

Answer:

Beginning Raw Materials 8,000

Purchases                      133,000

Ending Raw materials       (10,100)

Used into production      130,900

Beginning WIP     5,400

cost added   416,900

total cost  422,300

ending WIP   (20,400)

COGM          401,900

Beginning FG        70,000

COGM               401,900

goods available    471,900

ending FG       (25,500)

COGG               446,400

Overhead 18,000 udnerapplied

Sales             652,000

COGM          (464,400)  - (446,400 + 18,000)

Gross Profit   187, 600‬

S&A               (145,000)

Net income     42,600

Explanation:

We work the following reasoning:

the beginning inventory are the materials at hand at the beginning then we add up the purchases and compare with ending ivnentory. The difference was used into production.

Same thinking applpies to how to calculate for cost of goods manufactured and cost of goods sold.

side calculation:

cost added during the period:

mateirals used + direct labor + applied overhead

Overhead:

actual   223,000

applies 205,000

as the cost were higher we will adjust to increase overhead by 18,000 It was underapplied

This will increase the COGS in the income statement.

<u>Net income: </u>

we will calculate the net income by subtracting the COGS and the expenses from the sales revenues.

5 0
3 years ago
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