1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lesya692 [45]
3 years ago
15

Epicure Market prepares fresh gourmet entrees each day. On Wednesday, 80 baked chicken dinners were made at a cost of $3.50 each

. A 10% spoilage rate is anticipated. At what price should the dinners be sold to achieve a 60% markup based on selling price
Business
1 answer:
jenyasd209 [6]3 years ago
6 0

Answer:

The price of a Dinner= $6.22

Explanation:

<em>Mark-up is the proportion of the product cost which is expected to be made as profit. In other words, it is profit expressed as a percentage of product cost.</em>

To account for the spoilage rate of 10%, $3.50 unit cost would be consider as 90% of the cost. Thus, 100% of the cost would be given as follows:

Dinner cost = 100/(100-10)× 3.50= 3.89

The price of a Dinner = product cost + 60% of product cost

The price of a Dinner = 3.89 + 60%*3.89= $6.22

The price of a Dinner= $6.22

You might be interested in
Assuming that taxes and net exports are zero, government purchases of goods and services are equal to $12, and gross private dom
levacccp [35]

Answer:

GDP= $22

Explanation:

The groos domestic product (GDP) formula is:

GDP= Consumption (C)+ Investment (I)+ Government expenditure (G)+ Net exports (exports-imports)

The problem gives the following information:

G= $12

I=$10

X-M= $0

We do not have information about consumption, then we assume is zero.

GDP= $0+$10+$12+$0

GDP=$22

7 0
3 years ago
To conduct an experiment, a movie theater increased movie ticket prices from $9 to $10 and measured the change in ticket sales.
AleksandrR [38]

Answer:

1. The elasticity of demand for movie tickets must be INELASTIC.

2. Demand curves become LESS elastic in the long run. This means that the ticket price increase will likely be MORE profitable in the long run.

Explanation:

1. As demand is inelastic, the percentage of price increase will be greater than the decrease in the quantity of tickets demanded, and consequently profit will increase.

2. In the long term, demand becomes inelastic. Consequently, in the long term the percentage of the price increase will continue to be greater than the percentage of decrease in the quantity of tickets demanded.

7 0
3 years ago
Jeremy earned $100,000 in salary and $6,000 in interest income during the year. Jeremy’s employer withheld $11,200 of federal in
iragen [17]

Answer:

Tax Due by Jeremy is $218

Explanation:

Step 1: Calculate Jeremy's total Income

$100,000 (Salary) + $6,000 (Interest Income) + $4,000 (long term capital gain)=  $110,000

Jeremy's exclusion at this point is 0.

Therefore, Jeremy's Gross income = $110,000, This is also Jeremy's Adjusted Gross Income (AGI).

Step 2: Calculate Taxable Income after deductions.

AGI= $110,000

Deductions from AGI= $23,000 (The greater of standard or itemized deduction).

Qualified Business Income Deductions (QBI)= $0 (Jeremy did not declare any personal business).

Taxable Income= AGI-Deductions- QBI Deductions

= $110,000-$23,000-0

= $87,000

Step 3: Calculate Jeremy's Tax Liability as follows:

Capital Gain is included as part of Gross Income, therefore finding the tax liability will necesitate that the capital gain be deducted and only the taxable percentage be added back.

Jeremy's tax liability = (87,000-4,000) + (4,000 x 0.15)

= ($83,000 x 15.4%) + 600

=$12,818 + 600

=$13,418

Jeremy's total tax Liability= $13,418 - $0 (non refundable tax credit) + 0 (other taxes)

Jeremy's total tax liability = $13,418

The total tax payment made by Jeremy

=(2,000 + 11,200)= $13,200

Therefore the tax due by Jeremy is Total Tax Liability - Tax Payment mande

= $13,418 - $13,200

= $218

7 0
3 years ago
Carla was unhappy with her haircut. The next time she wanted a haircut, she went to a different hairstylist who Carla thought wa
tatiyna

Answer:

B. Switching

Explanation:

Based on the information provided within the question it can be said that the term that would best describe Carla's behavior would be Switching. This is when a customer changes from one product or service provider to another completely different one within the same industry. Usually because of a bad experience or they are overall displeased with the service provided, which seems to be the case with Carla's first haircut.

8 0
3 years ago
For which of the following random variables would the use of a Normal distribution as a model be a clear error?
Zinaida [17]

Answer:

A. The number of houses that an individual owns

Explanation:

The use of normal distribution in option A would produce an error. That is the number of houses individuals own.

We know that people can own 1 house or more than 1 house or no house at all. But a person can never be said to have less than 0 houses.

Option a is going to be skewed positively. Using Normal distribution would give us an error.

8 0
2 years ago
Other questions:
  • Miller is the owner of a restaurant that has several franchises. One of the franchisees owes Miller a sum of $18,000 for the goo
    9·1 answer
  • Long before a single vote is cast, candidates are hard at work weighing the costs and benefits of running for office. As a part
    9·1 answer
  • A __________ is a group of products that are closely related because they satisfy a class of needs, are used together, are sold
    5·1 answer
  • ACCT 167 - Computer Equipment
    10·2 answers
  • When a policyowner cash surrenders a Universal Life insurance policy in it's early years, this may be considered a red flag for
    13·1 answer
  • The overall cycle time in the buying process has been reduced due to:
    12·2 answers
  • Give three examples of business processes or operations that would benefit significantly from having detailed real-time or near
    13·1 answer
  • During 2020, Kate Holmes Co.'s first year of operations, the company reports pretax financial income at $250,000. Holmes's enact
    5·1 answer
  • What is Nick causing? Nick has set up his steel factory near a community lake. The waste from his factory is directly thrown in
    11·2 answers
  • Cobe Company has already manufactured 21,000 units of Product A at a cost of $15 per unit. The 21,000 units can be sold at this
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!