Answer:
A) R(x) = 120x - 0.5x^2
B) P(x) = - 0.75x^2 + 120x - 2500
C) 80
D) 2300
E) 80
Explanation:
Given the following :
Price of suit 'x' :
p = 120 - 0.5x
Cost of producing 'x' suits :
C(x)=2500 + 0.25 x^2
A) calculate total revenue 'R(x)'
Total Revenue = price × total quantity sold, If total quantity sold = 'x'
R(x) = (120 - 0.5x) * x
R(x) = 120x - 0.5x^2
B) Total profit, 'p(x)'
Profit = Total revenue - Cost of production
P(x) = R(x) - C(x)
P(x) = (120x - 0.5x^2) - (2500 + 0.25x^2)
P(x) = 120x - 0.5x^2 - 2500 - 0.25x^2
P(x) = - 0.5x^2 - 0.25x^2 + 120x - 2500
P(x) = - 0.75x^2 + 120x - 2500
C) To maximize profit
Find the marginal profit 'p' (x)'
First derivative of p(x)
d/dx (p(x)) = - 2(0.75)x + 120
P'(x) = - 1.5x + 120
-1.5x + 120 = 0
-1.5x = - 120
x = 120 / 1.5
x = 80
D) maximum profit
P(x) = - 0.75x^2 + 120x - 2500
P(80) = - 0.75(80)^2 + 120(80) - 2500
= -0.75(6400) + 9600 - 2500
= -4800 + 9600 - 2500
= 2300
E) price per suit in other to maximize profit
P = 120 - 0.5x
P = 120 - 0.5(80)
P = 120 - 40
P = $80
When the auditors express an opinion on financial statements their responsibilities extend to : Whether the results of their client's operating decisions are fairly presented in the financial statements.
Explanation:
An auditor is a person or corporation assigned to conduct an audit by a client. To order to be an auditor, a person should have a credential or relevant credentials of the regulatory authority for accounting and auditing.
The auditor is someone who reviews financial records and checks them. They ensure consistency of financial records and correct payment of taxes. We monitor financial activities to ensure that companies operate efficiently.
A statement that somehow the auditor is liable for expressing an opinion on the audit's financial statements. Examining details of the sums and reports in the financial statements on a test basis; evaluating the accounting standards used and relevant management estimates;
Answer:
yes
Explanation:
Based on this scenario, it can be said that yes the attorney's actions are proper because the referral fee was reasonable. A standard referral fee percentage could be around 10% for a closed job, starting at around 2-5% for e-mail introductions and even up to 15-20% for referrals where the referrer deals alone with the client. As long as the referral fee is reasonable and the attorney is not taking advantage then his/her actions are proper and ethical.
Answer: $18
Explanation:
Based on the information,
Sales revenue = $65 × 225 = $14625
Cost of goods sold = (45 × $20) + (1125 × $4) + (225 × $14) + (225 × $9)
= $900 + $4500 + $3150 + $2025
= $10575
Gross profit = Sales revenue - Cost
= $14625 - $10575
= $4050
The gross profit for one chainsaw will be:
= $4050/225
= $18
