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drek231 [11]
3 years ago
15

You are going to the movie theater with your grandparents and your younger brother. Senior citizen tickets cost $6, your ticket

cost $6.25 and your brothers cost $4.25. If you spent an additional $20 on soda and popcorn, what is the total cost of your trip to the movie theater?
Business
1 answer:
kipiarov [429]3 years ago
4 0

Answer:

Total expenditure for the trip = $36.25

Explanation:

You are going to the movie with your younger brother and grandparents.

Senior citizens tickets cost $6 while your tickets cost $6.25 and your younger brothers ticket cost $4.25 .

Also there is an additional expenditure due to buying soda and popcorn and it costs $20.

Now we have to find the total cost for your trip to the movie theater.

For that we just need to add all the expenditures.Hence,

Total cost = 6 + 6.25 + 4.25 + 20 =$36.25

This is the total expenditure for the trip.

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The role of the entrepreneur in society is to bring the factors of production together and take the risks of producing output. r
tatuchka [14]

Answer:

bring the factors of production together and take the risks of producing output.

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four factors of production are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.

IV. Entrepreneurship: it is the intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

In a society, the role of an entrepreneur is mainly focused on bringing the four (4) factors of production together and take the risks of producing output, so as to generate revenue through sales and make economic profits in the long-run.

In conclusion, when the aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.

3 0
2 years ago
Abba, Inc. has developed the following standards for one of its products: Direct materials - 1/2 pound at $6.00 per pound Direct
Sergeu [11.5K]

Answer:

The answer is $11 per unit.

The standard cost card for this product would show a cost per unit of $11.

Explanation:

The workings are attached.

The formula used is as follows:

<u>Standard cost per unit of a product = direct material per unit + direct labor per unit + variable overhead per unit + fixed overhead per unit.</u>

<u></u>

6 0
3 years ago
Atkinson Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materia
Oduvanchick [21]

Answer:

1. Compute the

(a) budgeted indirect-cost rate

$40 per labor hour

and (b) actual indirect-cost rate.

$42 per labor hour

Why do they differ?

Because total assembly support costs and labor hours were different.They both were actually lower than expected, but the labor hours were 9% lower while the costs were around 5% lower. That is why the actual rate increased (denominator decreased more than numerator).

2. What are the job costs of the Laguna Model and the Mission Model using (a) normal costing

                                               Laguna Model       Mission Model

assembly-support cost                $38,800               $40,000

and (b) actual costing?

                                              Laguna Model       Mission Model

assembly-support cost                $40,7400               $42,000

3. Why might Atkinson Construction prefer normal costing over actual costing?

The problem with actual costing is that they cannot be budgeted, you can only budget normal costing. Any business has to prepare budgets in order to control how their operations are being carried out and then they need to adjust them to the actual costs incurred.

Explanation:

                                                  Laguna Model       Mission Model

Construction period                 Feb-June 2017       May-0ct 2017

Direct material costs                   $106,550              $127,450

Direct labor costs                         $36,250                 $41,130

Direct labor-hours                             970                      1,000

budgeted indirect cost rate:

assembly-support costs $8,800,000

direct labor-hours 220,000

budgeted assembly-support cost per labor hour = $8,800,000 / 220,000 = $40 per hour

                                               Laguna Model       Mission Model

assembly-support cost                $38,800               $40,000

actual indirect cost rate:

assembly-support costs $8,400,000

direct labor-hours 200,000

actual assembly-support cost per labor hour = $8,400,000 / 200,000 = $42 per hour

                                               Laguna Model       Mission Model

assembly-support cost                $40,7400               $42,000

7 0
3 years ago
An investor has $50,000 in cash to put a $5,000 down payment on 10 different homes valued at $50,000 each and will finance the r
scZoUnD [109]

Answer:

d. leverage

Explanation:

Leverage -

It is a type of investment strategy , where the borrowed money is used .

It is the method by which the firm or an organisation is expanded by using the borrowed money as the capital and funding , is referred to as leverage  .

Hence , from the given scenario of the question,

The person uses borrowed money to increase the potential return of an investment .

Hence , from the question,

The correct term is leverage .

3 0
3 years ago
Which of the following statements concerning the selection of risk management techniques and insurance market conditions is (are
valentinak56 [21]

Answer:

I.It's easier to purchase affordable insurance during a "soft" market than during a "hard" market

I only

Explanation:

When a purchaser of insurance wants to make a purchase he analyses the market to get a favourable condition that reduces risk and loss.

The market condition can be a soft market or hard market.

Soft market is one in which potential sellers are more than potential buyers. So supply exceeds demand. Buyers are able to buy affordable insurance.

Hard market on the other hand is when there is an upswing in market cycle. Premiums increase and capacity for insurance decreases.

It is more difficult to get affordable insurance in this market

6 0
3 years ago
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