D) Account receivable and note receivable are showing in Expense
Mark's initial revenue was $450 (150lb)($3) and his new revenue was $500 (100lb)($5). Since Mark's revenue increased when the price if apples rose, the demand for Mark's gourmet applies must be inelastic. Elastic, because even though there was a change in price, the change in price wasn't substantial.
Answer:
(1) $30,000 + $12x
(2) $50x
(3) $38x - $30,000
(4) 790 CD's to break even
Explanation:
Given that,
Variable cost = $12 per CD
Fixed cost = $30,000
Selling price = $50 each
Let x be the number of CD's produced,
(1) Total cost function:
C(x) = Fixed cost + Variable cost
= $30,000 + $12x
(2) Total revenue:
R(x) = Units produced × selling price of each unit
= $50x
(3) Total profit:
P(x) = R(x) - C(x)
= $50x - ($30,000 + $12x)
= $50x - $30,000 - $12x
= $38x - $30,000
(4) Number of CD's which must be produced to break even:
Total profit = 0
$38x - $30,000 = 0
x = $30,000 ÷ $38
= 789.47 or 790 CD's to break even.
Answer:
b. If it feels wrong, don’t do it
Explanation:
Ethics is about doing what is morally right. This may vary from one person to another as what may be right to one may be wrong to another based on culture and other influential factors.
A good rule for avoiding unethical behavior would therefore be " If it feels wrong, don’t do it"
The right option is b.
