1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vinil7 [7]
2 years ago
14

Builder and Owner agree that Builder will erect a fence for Owner for $1,500. Builder claims that the fence is taking longer tha

n Builder expected, so Owner must pay Builder $500 more or Builder will not complete the fence. Owner, needing the fence completed, agrees to the additional $500. Builder completes the fence. Owner owes Builder: ________.
A. $1,500.
B. $2,000.
C. $1,000.
D. $1,750.
Business
1 answer:
artcher [175]2 years ago
3 0

Answer:

Owner owes Builder : B. $2,000.

Explanation:

A Liability is the present obligation of the entity, that arises as a result of past events, the settlement of which is expected to result in a cash outflow from the entity.

Initially, the Owners owes the Builder $,1500

For the fence to be completed on time, an addition of $500 was owed, upon the owner accepting this arrangement.

Thus, the total obligation owing to the Builder is $2,000.

You might be interested in
Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated recei
slavikrds [6]

Answer: a) Debit to Office Supplies for $81.

Explanation:

Office Supplies of $81 were used in the month of September. When replenishing the fund, this asset will be accounted for by being debited and cash will be credited to reflect the reason the cash account is being reduced.

The Journal entry for the replenishment will be;

DR Office supplies Account ......................................$81  

DR Merchandise inventory Account ........................$153  

DR Misc. expense Account........................................ $30  

CR Cash account ......................................................................$264

5 0
3 years ago
In year 1 the price level is constant and the nominal rate of interest is 6 percent. But in year 2 the inflation rate is 3 perce
LiRa [457]

The nominal interest rate will rise by 3%.

Nominal interest rate is the sum of real interest rate and inflation rate. Real interest rate is interest rate that has been adjusted for inflation. Inflation is the persistent rise in general price levels.

Nominal interest rate in year 2 = real interest rate + inflation rate

6% + 3% = 9%

Nominal interest rate in year 1 = 6%

Change in nominal interest rate = 9% - 6% = 3%

To learn more, please check: brainly.com/question/21323568

6 0
2 years ago
Sale price $60 $100 Variable costs $35 $60 Machine hours required for 1 vase 1 2 Total fixed costs are $600,000, and Rose Incorp
MrRissso [65]

Answer:

a) CM1 = 25

CM2 = 40

b) CMmh1 = 25

CMmh2 = 20

c) 25,000 units of Vase 1 and 12,500 units of Vase 2

d) OI = $ 525,000

Explanation:

a. Determine the contribution margin per unit for each type of vase.

The contribution margin per unit is equal to the difference between the sale price and the variable cost per unit:

CM_1=P_1-VC_1=60-35=25\\\\\\CM_2=P_2-VC_2=100-60=40

b. Determine the contribution margin per machine hour for each type of vase.

For the Vase 1, the number of machine hours per unit is 1. So the contribution margin per machine hour for Vase 1 is equal to CM1=$25.

For the Vase 2, the number of machine hours per unit is 2. Then, the contribution margin per machine hour for Vase 2 is equal to CM2=$40/2=$20.

c. Determine the number of units of each style of vase that Rose Incorporated should produce to maximize operating income.

There are 3 restrictions:

- Max 25,000 units of Vase 1

- Max 25,000 units of Vase 2

- 50,000 hours of machine hour

As the contribution margin per machine hour is higher for the Vase 1, so we start producing the more we can of Vase 1. The limit is 25,000 units.

Then, we are left with 25,000 machine hours available for Vase 2. We can produce 25,000/2=12,500 units, which is under the market constraint.

d. What is the dollar amount of the maximum operating income as calculated in C above

The operating income for the mix proposed in C is:

OI=CM_1*q_1+CM_2*q_2-FC\\\\OI=25*25,000+40*12,500-600,000\\\\OI=625,000+500,000-600,000\\\\OI=525,000

4 0
3 years ago
Indirect price discrimination differs from direct price discrimination because a. ​There is no difference between the two b. ​In
forsale [732]

Answer: (b) ​In indirect price discrimination high-value consumers can sometimes still get the low price

Explanation:

Direct price discrimination is based upon the identity of the buyer, while indirect price discrimination involves several offers and achieves price discrimination through customer choices. Two common examples of indirect price discrimination are coupons and quantity discounts.

5 0
3 years ago
Read 2 more answers
Shoe Shine is a local retail shoe store located on the north side of Centerville. Annual demand for a popular sandal is 500 pair
Gnesinka [82]

Answer:

The optimal order will be of 100 units

Explanation:

We will solve this using the EOQ (economic order quantity) formula:

Q_{opt} = \sqrt{\frac{2DS}{H}}

D = annual demand 500 units

S= setup cost = ordering cost = 50.00 dollars

H= Holding Cost = 5.00 dollars

Q_{opt} = \sqrt{\frac{2\times 500 times 50}{5}}

EOQ = 100

4 0
3 years ago
Other questions:
  • All of the following statements about the geography of meat production in the United States and Canada are true EXCEPT:
    7·1 answer
  • You are opening up a brand new retail strip mall. You presently have more potential retail outlets wanting to locate in your mal
    14·1 answer
  • Stockholders equity: a. Represents the ownership of a company b. Is the equivalent of net assets c. Is also known as the book va
    8·1 answer
  • Walkane Juices is planning to launch a line of flavored beverages. It encourages consumers to take a $1,000,000 Taste Challenge.
    15·1 answer
  • At the end of 2016, Sunland Company has accounts receivable of $653,700 and an allowance for doubtful accounts of $24,200.
    9·1 answer
  • Antitrust laws are designed to create _____ competition in the marketplace.
    9·2 answers
  • Whispering Winds Corp. purchased a delivery van with a $52000 list price. The company was given a $4200 cash discount by the dea
    15·1 answer
  • $3000 is invested in an account earning 8% interest compounded annually. How much will there be in the account after two years?
    11·1 answer
  • Finley Company
    14·1 answer
  • A new study discovers the health benefits of eating fish regularly. At the same time, some consumers decide to become vegetarian
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!