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Yuliya22 [10]
2 years ago
6

Larry estimates that the costs of insurance, license, and depreciation to operate his car total $320 per month and that the gas,

oil, and maintenance costs are 14 cents per mile. Larry also estimates that, on average, he drives his car 1,400 miles per month. Required: a. How much cost would Larry expect to incur during April if he drove the car 1,529 miles
Business
1 answer:
agasfer [191]2 years ago
3 0

Answer:

See below

Explanation:

The question above is incomplete. The concluding part is

b. Would it be meaningful for Larry to calculate an estimated average cost per mile for a typical 1,400 mile month. Yes or No

Given the above information,

a. Total number of miles driven = 1.529 miles

Total cost = Fixed cost + Variable cost × Number of miles driven

= $320 + $0.14 × 1,529

= $320 + $214.06

= $534.06

b. Since $320 per month is the fixed, the fixed cost per mile will decrease with the increase in number of miles driven . It means that if he drives less than 1,400 miles , the actual cost will be more than the cost based on predetermined overhead rate of the cost.

No. It would not be meaningful for Larry to calculate an estimated average cost per mile for a typical 1,400 mile month.

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The market for corn in country A is highly competitive. At the current market price of​ $5/bushel there is a shortage of​ 100,00
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Answer:

The answer is: A) Farmers will substitute the production of other agricultural goods? (like soybeans) with corn.

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Since farmers can only produce one crop at the time in a certain lot, they will always tend to produce the crop that gives them the highest profit. In this case if corn becomes very expensive, it is reasonable to assume that more farmers will produce corn by substituting others crops (like soybean or wheat).

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3 years ago
General Product Inc. distributed 140 million coupons in 2021. The coupons are redeemable for 40 cents each. General anticipates
Fiesta28 [93]

Answer:

$1.2 million

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4 0
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