Automobile repair costs continue to rise with the average cost now at $500 per repair. Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. If the cost for your car repair is in the lower 8% of automobile repair charges, what is your possible maximum cost? Please do fast ASAP fast
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- A car rental agency rents 210 cars per day at a rate of 27 dollars per day. For each 1 dollar increase in the daily rate, 5 fewer cars are rented. At what rate should the cars be rented to produce the maximum income, and what is the maximum income? Rate = ?? dollars/day Maximum Income = 5951.25 dollars/day i need help with the rate Thank you.Edwards Machine Tools needs to purchase a new machine. The basic model is slower but costs less, while the advanced model is faster but costs more. Profitability will depend on future demand. The following table presents an estimate of profits over the next three years. Decision Low Medium High Basic Model $65,000 $85,000 $125,000 Advanced Model $70,000 $140,000 $240,000 Given the uncertainty associated with the demand volume and no other information to work with, how would you make a decision? Use the Excel template Decision Analysis and explain your reasoning.iF ALL YOU CAN GIVE ME IS THE FORMULA FOR RATE OF RETURN, THAT WOULD BE GREAT. Should this be collected by retailers when electronic products are sold to consumers, or should it be assessed at end-of-life (when consumers return products for recycling)? If collected when products are sold, what is the required rate of return in each of the following circumstances (work this regardless of when fee is collected), assuming the fees can be safely invested in the interim? If collected at end-of-life, the fee would be the direct cost to recycle.Assume that consumers keep devices on the following schedule:Cell phones, tablets, small laptops (screen size: 4”-15”): 2 years, costs $3.75 on average to recycle, upfront fee = $3.00Large laptops, desktop monitors, small TVs (screen size: 15”-35”): 3 years, costs $5.50 on average to recycle, upfront fee = $4.00TVs (screen size: > 35”): 4 years, costs $8.25 on average to recycle, upfront fee = $5.00
- Do you have an old computer or two that you no longer use? How about an old TV that needs replacing? Many people do. Approximately 163,000 computers and televisions become obsolete each day. Yet, in a recent year, only 11% of computers were recycled. It is estimated that 75% of all computers ever sold are sitting in storage somewhere, waiting to be disposed of. Each of these old TVs and computers is loaded with lead, cadmium, mercury, and other toxic chemicals. If you have one of these electronic gadgets, you have a responsibility, and a probable cost, for disposing of it. Companies have the same problem, but their discarded materials may include lead paint, asbestos, and other toxic chemicals. How do we fit these issues into the accounting equation? Are these costs and related liabilities that companies should report? YAY: As more states impose laws holding companies responsible, and as more courts levy pollution-related fines, it becomes increasingly likely that companies will have…A company that offers a subscription service for dog toys and treats is struggling because people would rather pick out the toys and treats for their animals themselves. Although it has some very loyal subscribers, the company decided to gradually cut back on its services and offer its subscribers a lower subscription rate. Eventually, the company plans to stop offering the service if sales continue to drop. This is known as a ________ strategy.The installation of synthetic green turf in drought-stricken California costs $8 per square foot. For 1,000 square feet of turf, the installed cost would be $8,000. Refer to Principle 4 and list the advantages and disadvantages of synthetic turf in monetary terms.
- Papaya Partners is a distributor of papayas. They purchase papayas from individual growers and package them in 10-pound cartons for delivery to their various customers, generally supermarkets. Last month, they budgeted to sell $500,000 worth of cartons at a price of $25 each. Actual sales met a budget of $500,000 at $25 per carton. The management has received cost information based on actual performance and needs to understand the drivers of the overall variance from the budget. They have asked you, as an analyst in their management accounting department, to calculate and explain the variances. The following data has been provided: Budget Cost of fruit @ 10 pounds per carton $ 200,000 Cost of packaging @ 1 pound per carton $ 10,000 Labor costs @ .5 hourse per carton $ 90,000 Total Cost $ 300,000 Actual Cost of fruit @ 10 pounds per carton $ 244,200 Cost of packaging @ .55 pound percarton$ 11,000 Labor costs @ .75 hourse per carton $ 150,000 Total Cost $405,200 WHAT IS THE STANDARD COST…A newspaper has 500,000 subscribers who pay $4 per month for the paper. It costs the company $200,000 to bill all its customers. Assume that the company can earn interest at a rate of 20% per year on all revenues. Determine how often the newspaper should bill its customers. (Hint: Look at unpaid subscriptions as the inventoried good.)Following are some of the information on demand and costs of a mobile phone manufacturer: Monthly Sales for previous year were 10,000 Mobile Phones. Overall Market has grown at 15% from the previous year. The company uses a third-party storage solution for keeping its inventory. The charges are Rs. 100/unit. For procuring the raw material company relies on a contractor which provides them a one stop solution and charges Rs. 3000 per order. The actual cost of the raw material is approximately 7000/unit. Using the above given information answer the following questions? What is the Economic Order Quantity for the company? If a working year is 300 days find out how many orders the company will place for the current year and what would the gap between two orders? What will be the total cost of inventory policy for the company? If the delivery lead time for receiving the order is 20 days what should be the reorder point for the company?
- Consider the requirement that shopping malls need a license to remain open 24 hours, where these licenses are in fixed supply. These licenses are however freely tradable among actual and potential owners, and the industry is perfectly competitive. If the average 24-hour shopping mall’s annual revenue is $250,000, while the licenses may be leased at an annual fee of $100,000. Given this information, average variable cost for the industry would be $100,000. Is the preceding statement true or false?The Instant Paper Clip Office Supply Company sells and delivers office supplies to companies, schools, and agencies within a 50-mile radius of its warehouse. The office supply business is competitive, and the ability to deliver orders promptly is a big factor in getting new customers and maintaining old ones. (Offices typically order not when they run low on supplies, but when they completely run out. As a result, they need their orders immediately.) The manager of the company wants to be certain that enough drivers and vehicles are available to deliver orders promptly and that they have adequate inventory in stock. Therefore, the manager wants to be able to forecast the demand for deliveries during the next month. From the records of previous orders, management has accumulated the following data for the past 10 months: Month Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Orders 145 70 115 85 120 54 82 141 123 94 Compute the…The Instant Paper Clip Office Supply Company sells and delivers office supplies to companies, schools, and agencies within a 50-mile radius of its warehouse. The office supply business is competitive, and the ability to deliver orders promptly is a big factor in getting new customers and maintaining old ones. (Offices typically order not when they run low on supplies, but when they completely run out. As a result, they need their orders immediately.) The manager of the company wants to be certain that enough drivers and vehicles are available to deliver orders promptly and that they have adequate inventory in stock. Therefore, the manager wants to be able to forecast the demand for deliveries during the next month. From the records of previous orders, management has accumulated the following data for the past 10 months: Month: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Orders: 1230 1155 1263 1159 1361 1273 1147 1250 1356 1155 Create tables to support your answer: a. Compute the monthly…