Katherine is in the business of manufacturing phones. She must pay a daily fixed cost to rent the building and equipment, and al
so pays a cost per phone produced for materials and labor. The labor and materials cost $100 for each phone manufactured, and the total cost of producing 9 phones in a day would be $1400. Write an equation for C,C, in terms of p,p, representing total cost, in dollars, of producing pp phones in a given day.
In 2015, the financial statements of Ultimate Medical Center reported $500,000 in total revenues and $145,000 in net income. The balance sheet showed net assets of $350,000. Calculate the operating margin ratio and the return on equity rate for Ultimate Medical Center.
