a. When three pens and four erasers were purchased, the cost was $21.25. When two pens and two erasers were purchased, the cost was $12.50. What was the the price of a pen and the price of an earaser?

a. When three pens and four erasers were purchased, the cost was $21.25. When two pens and two erasers were purchased, the cost was $12.50. What was the the price of a pen and the price of an earaser?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: Use the table below as reference of the average yearly cost for electricity for common household…

A: It is given that The cost of new machine - $820 Cost per year - $79.

Q: A company is planning to manufacture rocking chairs. The fixed cost is $40,000 and the cost pre…

A: Revenue means amount to be received from sale of goods and services. Sales revenue can be calculated…

Q: An air-conditioning system is installed in a building under construction. Thebill for installation…

A: An invoice amount includes costs and taxes.

Q: A clothing store buys scarves for $22.00 less 27% for buying over 50 pairs, and less a further 24%…

A: We will first calculate the cost price to calculate the selling price thereafter, and by applying…

Q: The owner of a widget factory finds that the he can sell x widgets in a month if he 3 charges a…

A: The revenue is the total amount to be received by the firm by selling goods at a particular price.…

Q: The retailer price of a refrigiretor is £807. If the manufacturer gains 11%, the wholesale dealer…

A: let cost of product = C manufacturer's gain = 11% selling price of manufacturer = C x 1.11…

Q: A publisher has a fixed cost of $175,000 associated with the production of a college mathematics…

A: Solution: A publisher has a fixed cost of $175,000 associated with the production of a college…

Q: A manufacturer of vertical blinds purchases raw materials for $17.00 per set of blinds and has a…

A: Overhead means the cost incurred indirect in factory for the production of goods. Manufacturing…

Q: Homeward Hardware buys cat iter for $6 less 20% per bag The store's overhead is 45% of cost and the…

A: Note: As per the policy we are supposed to solve three sub-parts at a time. Kindly repost the…

Q: A company is going to buy a new machine for manufacturing its products. Three machines are…

A: Cash Flows: Year Cash Flow - A Cash Flow - B Cash Flow - C Working 0 -24720 -30900 -51088…

Q: Joel, a florist, buys and sells flowers at his store. He purchases roses at $3.00 each, h operating…

Q: Tim is looking at buying business cards from two different companies. Company A, charges $50 for the…

Q: Appliance Store realizes a mark-up of PhP3,450 in selling TV sets. If its items are sold at a…

A: Note: As per the policy, we are supposed to solve the first three subparts at a time, Kindly repost…

Q: You sell 750-milliliter bottles of imported water for $3.95 a bottle. You purchase the water in…

A: Cost system is the system which is designed to evaluate the monitor the cost incurred by the…

Q: following are the cost data associated with water purification devices. a.The initial cost of one…

A: In Cost based pricing, pricing of a product should be calculated on the basis of total cost incurred…

Q: A scrap metal dealer purchased a truck for $45,000, and the maintenance cost for the truck was $890…

A: Given: Cost of truck = $45,000 Maintenance cost = $890 Revenues = $5,000 Sale value = $12,000

Q: A saleslady sold 30 bags at an average price of ₱350. She got ₱6,800 for 20 of them. At what price…

A: Total Amount will be receive by the Saleslady for Selling 30 Bags = 30 × ₱350 = ₱10,500 Total…

Q: W bought a new printing machine. The cost of the machine was $80,000. The installation costs were…

A: We have the following information: Cost of machine: $80,000 Installation Cost: $5,000 Cost of…

Q: 1. What is the mark- on of a 50 kg sack of rice cost Php 1,900 when sold at Php 2,250?

A: Mark up Mark up is the amount added to the cost of the goods sold to recover the overheads and…

Q: 5.) A customer just paid $59.45 for a raincoat. If the percent markup based on cost is 45%, what was…

A: Given, Sales Price = $59.45 Mark Up on Cost = 45%

Q: The overhead expenses for a pharmacy was calculated to be $2,128,000.00. If the pharmacy’s income is…

A: A ratio that helps to evaluate how much portions of the sales revenue of a company turns in the…

Q: A clothing company has determined that if the price of a T-shirt is K40, then 150 will be demanded…

A: When Price (P) = 40, Demand (Q) = 150 When Price (P) = 45, Demand (Q) = 100 Let the price demand…

Q: If a daycare had 16 kids and figured the total revenue on a bi-weekly basis is $4800.00. How much…

A: Cost per kid = Total revenue / Number of kids

Q: What is the profit made by Ace? (profit = sales - cost)

A: Profit: Profit is the gain we generate from selling units which is a difference between the selling…

Q: Howick Inc. is trying to decide whether to purchase Machine A or Machine B. Below are the associated…

A: Relevant cost is an avoidable cost used for decision-making. These types of costs are based on…

Q: Imagine you have a business, you are selling a one of a kind gadget, the cost you incurred for the…

A: The formula used as follows: Break even =Fixed costContribution

Q: The cost of a bicycle is RO 380. The operating expense is 35% of the cost. The selling price of the…

A: Profit= Selling price- (cost + operating expense)

Q: A printer costs a price of birr 1400 for printing 100 copies of a report and bir.3000 for printing…

A: Price is defined as the amount which is to be paid for acquiring a product or availing a service. In…

Q: You are moving to a new home and have rented a truck to assist you with the move. Trailside Truck…

A: Aggregate cost is the term which is defined as the sum of all the costs that is incurred through the…

Q: ellevie college cost $7612.00 a year, the graduation rate is 25%, salary after attending is $42,400.…

A: Explanatory are statements or notes or calculations which simplify the understanding of complex…

Q: A computer assembly firm purchases computers at $215 per computer. The operating expenses are 21% on…

A: As posted multiple independent questions we are answering only first question kindly repost the…

Q: Draw a cash flow diagram depicting the net cash flows associated with the purchase, operation, and…

A: Year Cash Flow Working 0 -70,000 (-)62000(-)8000 1 9200 10,000-800 2 10800 12,000-1200 3…

Q: Abby paid $99 for a board game and a scooter. The scooter cost 10 times as much as the board game.…

A: Cost system is the system which is designed to evaluate the monitor the cost incurred by the…

Q: ealer bought personal computers for $1850 less 32%, and 17%. They were sold for $1575. What was the…

A: Dealers purchases the computers in large quantity and based on the quantity they get discounts and…

Q: A school supply store sold its notebook for P15.00 per piece. The variable cost is P9.00 per piece…

A: Formula: Break even units =Fixed cost / Unit contribution margin

Q: Tate Inc. and Booth Inc. are two small manufacturing companies that are considering leasing a…

A: Calculate Tate’s and Booth’s respective share of fees using the shapely value method:

Q: Tom went to the store and bought two shirts for $50 each, socks for $10 and pants for $30. If the…

A: in this we have to calculate total purchase and than calculate sales tax and than final purchase.

Q: customer just paid $316 for a Blu-ray player. If the cost was 60% of selling price what was the mark…

A: Solution... Selling price = $316 Cost of 60% of selling price Markup amount = ?

Q: A purchasing manager of a business firm bought 20 dozen pairs of shoes for Php 202,080. If he sold…

A: Mark up = Sales - Cost Mark up rate = Mark Up/Cost

Q: a. A retailer buys flowers at ₱1,400 per bouquet. She sells them for ₱2,000 per bouquet. How much is…

A: When the manufacturer sells products to the consumers, he adds a Markup to the cost price and then…

Q: Mr. John Villamin wanted to sell cupcakes to his friends. He spends Php 22.50 per cupcake with…

A: Markup is the spread or the difference between selling price of a product and its costs. It is…

Q: Janice Huffman has decided to start Finch Cleaning, a residential housecleaning service company. She…

A: d. Number of houses cleaned 15 25 35 The total expected cost of equipment rental 700 700 700…

Q: A service garage uses 204 boxes of cleaning cloths a year. The boxes cost $12 each. The cost to…

A: Annual requirement = 204 Boxes Order size = 12 Boxes Ordering cost per order = $ 15 Annual holding…

Q: A scrap metal dealer purchased a truck for $45,000, and the maintenance cost for the truck was $890…

A: Given: Cost of truck = $45,000 Maintenance cost = $890 Revenues = $5,000 Sale value = $12,000

Question

Q6.
a. When three pens and four erasers were purchased, the cost was $21.25. When two pens
and two erasers were purchased, the cost was $12.50. What was the the price of a pen and the
price of an earaser?
b. Solve y = x² + 1 and 2y = 3x # 4

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

A dealer bought personal computers for $1850 less 32%, and 17%. They were sold for $1575. What was the markup as a percent of the cost?
1. A certain copier machine cost P 150,000 with a trade in value or P 15,000 after making 800,000 copies. Using the declining balance method, what is the book value when the machine had made 300,000 copies? A. 68,111 B. 64,896 C. 62,531 D. 63,254
A school supply store sold its notebook for P15.00 per piece. The variable cost is P9.00 per piece and the total fixed cost is P24 000.00. Find the BEP in units and Peso.
A tire bought for P1, 000 is expected to be useful in travelling 100km after which it can be sold as a scrap for P50.00 (a). The pedometer displays a value of 85km, what is the book value of the tire? (b). How much did the owner need to travel for the tire to amount to P80.00? use the service output method: dn=Na/N (Co-Cl) Cn= Co-Dn
A trader ordered x number of pen drives for GH¢48,000.00. She found that 40 of them were defective after taking deliveries of the items. She then sold all the remaining pendrives. The selling price of one pen drive was GH¢100.00 more than the cost price.Find in terms of x ; (i) an expression for the total sum that she received from the saleb) If she made a profit of GH¢12,000.00 from the sales, Find;(i) the number of pen drives she originally bought(ii) the cost price for a pen drive.c) This same trader has decided to set up a sinking fund for the purpose of purchasing a truck in 2 years’ time. It is expected that the truck will cost GH¢30,000. If the fund earns 10% interest per year compounded quarterly, determine the size of each (equal) quarterly installment the trader should pay into the fund.
Snyder’s total cost of goods available for sale would be:a. $2,000.b. $7,200.c. $8,000.d. $9,200.
Faster Stationery would like to sell a box of gel pens at the price of RM45. There are 12 gel pens in a box. The operating expenses are RM1.50 for a gel pen. If the company want to have 25% of net profit based on cost, a) Find the cost of a gel pen. b) Determine whether there is any profit or loss incurred if the company want to sell a box of gel pens at RM42.
The cost services is 75% of service income. If the gross profit is P50,000, how much is the service income? a. P 37,500 b. P 66,667 c. P200,000 d. None of the choices
Assume a jeweler paid $1,000 for a watch and sold it for $4,000. What would be his markup based on cost? Show calculations. What would be his markup based on selling price? Show calculations.
6. Las Bugambilias, S.A. of C.V. sold 50 defective cell phones for $2,150.00 each, their cost was $2,900.00 each. What is the percentage loss for each phone?
D. Markup and Markdown1. A car accessory is sold for Php 420 .90. The store’s marked-up based oncost is 43.28%. What is the cost of the accessory? What is the rate ofmarkup?2. A strawberry juice was offered for sale at Php 25.50 at E-mart. At Lottemart, the selling price of a similar juice drink was Php 30.50. What rate ofmarkdown would Lotte mart offer to sell the drink at the same price asE-mart?E. Profit From Loss1. Ryeowook buys an old scooter for Php 14 700 and spends Php 1 800 onits repairs. If he sells the scooter for Php 15 800, what is his gain or loss?2. A dealer losses Php 5 000 when he sells meat at a loss of 10%. Howmuch is the selling price of the meat?F. Breakeven1.A barbecue stall sells barbecue at Php 10 per piece. The fixed cost is Php5 000 and the variable cost is Php 5 per piece. At what level of productionwill it generate a profit of Php 1 000?2. An electric company that produces calculators has an annual fixed costof Php 450 000. The variable cost of producing a…
Jamestown Industries sells $48,000 in gift cards and expects 20% breakage. Cost of goods sold is 25% of each gift card. When the expected gift cards are redeemed, how much cost of goods sold will Jamestown record? O $12,000 $24,000 O $10,000 O $9,600