Answer:
<u><em>Part 1. </em></u>
- <em>Average cost per day of a three-day pass</em> = $53.33/day per person
- <em>Marginal cost of adding the third day </em>= $190 - $160 = $30 per person
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<em><u>Part 2.</u></em>
- <em>Group's marginal cost of switching from the two-day pass to the three-day pass</em> = $180
Explanation:
The total <em>cost</em> is the <em>admission charge</em> ($60) plust the cost of the pass ($100 or $130).
For a <em>two-day pass</em> that is: $60 + $100 = $160, per person
For a <em>three-day pass</em> that is: $60 + $130 = $190, per person
<u><em>Part 1. The average cost per day of a three-day pass per person. </em></u>
The <em>average cost</em> is the total cost divided by the number of days.
- <em>Average cost</em> = $160/3days = $53.33/day per person
The <em>marginal cost of adding the third day</em> per person is found by subtracting the total cost for two days from the total cost for three days:
- <em>Marginal cost of adding the third day</em> = $190 - $160 = $30 per person
This says that althoud the average cost for the three days is $53.33 the cost of adding the third day is $30, which is much lower; thus, it is a good deal to buy a three-days pass, as they are interested in spending a lot of time there.
<u><em>Part 2. The group's marginal cost of switching from the two-day pass to the three-day pass</em></u>
<em></em>
Since the <em>marginal cost of switching from the two-day pass to the three-day pass</em> is $30 per person, the marginal cost for the 6-person group is 6 times $30:
- 6 persons × $30/person = $180.
The financial management practices which are least effective in creating and monitoring an operating budget include top down/bottom up budgets, poor inventorying, lack of control, over control, and lack of staff investment.
In business, financial management includes the practice of making a business plan and then ensuring that all departments which falls under it stay on track and work properly.
Creating and monitoring an operating budget for the national government involves four distinct processes which are, budget preparation, budget authorization, budget execution and accountability.
Hence, the operating budget helps in keeping track of the income and expenses in an organization.
To learn more about operating budget here:
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Your answer is d.should deduct toe outstanding fees from the refund expected.
Answer:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Explanation:
Preparation of the Journal entry to close net income for Riverbed Corporation
Based on the information given we were told that the Corporation reports net income of the amount of $454,000 on December 31 this means the Journal entry to close the account will be recorded as:
Dr Profit and loss account $454,000
Cr Retained earnings $454,000
Introduction
main body of presentation should include for/against if applicable and an evaluation of the points raised
a conclusion
