Drill Problem 7-2 (Algo) [LU 7-1 (4))] Complete the following table: (Do not round net price equivalent rate and single equivalent discount rate. Round the dollar amounts to the nearest cent.) Item Samsung Blu-ray player List price $ 199 Chain discount 8/6/3 Net price equivalent rate (in decimals) Single equivalent discount rate (in decimals) Trade discount Net price
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- AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)?C(x) = (b) What is the revenue function R(x)?R(x) = (c) What is the profit function P(x)?P(x) = (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers $ 6000 timers $ 11,000 timers $Kevin’s friend, Sam, runs a septic tank repair business. Your research shows that the following price and demand for servicing a tank: Current Price: $300New Price: $375 Current demand: 450 tanksNew demand 425 tanks What is the coefficient of elasticity for Sam’s business? Here is the formula for calculating elasticity: Ed = {(Q1-Q2) / [1/2 (Q1+Q2)] } / {(P1-P2) / [1/2 (P1 + P2)]}Kai is perplexed by the manufacturer’s invoice, which specifies the product’s negotiated price of $100,000 plus a discount of 3/10 net 30. You explain that if your company pays the invoice within 10 days, it will only have to pay a. $103,000 b. $92,000 c. $70,000 d. $100,000 e. $97,000 Component parts are an example of a firm's costs. a. breakeven b. fixed c. operating d. variable e. selling Greta has an idea for a new product. She wants to market outdoor holiday LED lights that can change their colors so that consumers can hang them outside year-round and alter the colors of the lights to match the season: multicolor for Christmas or blue and white for Hanukkah, orange and black for Halloween, and pastel colors for Easter. Because she wants such a product herself, she believes that others will want such a product as well. She thinks she has the financial resources to develop and market the product. In order to develop the product, what should her next step be? a. Technical…
- I need help with everything, please. hint: you will need to define one variable for total funds needed; one variable for each for 2 securities. and five variables for investment in savings at the beginning of each year. The 6th year will be 1.04 times the 5th-year saving variable. Formulate the problem and submit the formulation - no need to solve 1. As part of the settlement for a class action lawsuit, Hoxworth Corporation must provide sufficient cash to make the following annual payments (in thousands of dollars): Year Payment 1 190 2 215 3 240 4 285 5 315 6 460 The annual payments must be made at the beginning of each year. The judge will approve an amount that, along with earnings on its investment, will cover the annual payments. Investment of the funds will be limited to savings (at 4% annually) and government securities, at prices and rates currently quoted in The Wall Street…Absorption Costing Operating IncomeThe Southern Division manager of Texcaliber Inc. is growing concerned that the division will not be able to meet its current period income objectives. The division uses absorption costing for internal profit reporting and had an appropriate level of inventory at the beginning of the period. The division manager knows that he can boost profits by increasing production at the end of the period. The increased production will allocate fixed costs over a greater number of units, reducing cost of goods sold and increasing earnings. Unfortunately, it is unlikely that additional production will be sold, resulting in a large ending inventory balance. The division manager has come to Aston Melon, the divisional controller, to determine exactly how much additional production is needed to increase net income enough to meet the division’s profit objectives. Aston analyzes the data and determines that the division will need to increase inventory by 30% in order to…Retailer Budget D. Tomlinson Retail seeks your assistance in developing cash and other budgetinformation for May, June, and July. The store expects to have the following balances at the end ofApril:Cash $ 5,500Accounts receivable 437,000Inventories 309,400Accounts payable 133,055The firm follows these guidelines in preparing its budgets:∙ Sales. All sales are on credit with terms of 3/10, n/30. Tomlinson bills customers on the last day ofeach month. The firm books receivables at gross amounts and collects 60% of the billings withinthe discount period, 25% by the end of the month, and 9% by the end of the second month. Thefirm’s experience suggests that 6% is likely to be uncollectible and is written off at the end of thethird month.∙ Purchases and expenses. All purchases and expenses are on open account. The firm pays its payables over a 2-month period with 54% paid in the month of purchase. Each month’s units of endinginventory should equal 130% of the next month’s cost of sales. The…
- You are the manager of Taurus Technologies, and your sole competitor is Spyder Technologies. The twofirms’ products are viewed as identical by most consumers. The relevant cost functions are C(Qi) = 2Qi,and the inverse demand curve fort his unique product is given by P = 110 − 2Q. Currently, you andyour rival simultaneously (but independently) make production decisions, and the price you fetch for theproduct depends on the total amount produced by each firm. However, by making an unrecoverable fixedinvestment of $60, Taurus Technologies can bring its product to market before Spyder finalizes productionplans. Assume Taurus Technologies is the leader in this scenario.(a) What are your profits if you do not make the investment?(b) What are your profits is you do make the investment?(c) Should you invest the $60?As part of the employment interview for an accounting job at Sound Design, you have been asked to answer the questions below, based on an invoice from one of Sound Design's vendors, Target Electronic Wholesalers. Invoice Stock # Description Unit Price Amount 4811V Stereo Receivers 50 ✕ $293.50 = _______________________ 511CX Blu-Ray Players 25 ✕ $136.28 = _______________________ 6146M Home Theater Systems 40 ✕ $656.12 = _______________________ 1031A LCD TVs 20 ✕ $594.00 = _______________________ Merchandise Total _______________________ Insurance + Shipping $1,250.00 Invoice Total _______________________ An invoice. The top of the invoice is divided into several distinct sections. The first section is located in the top left of the invoice, is unlabeled, and contains an image of a target with an arrow in the center of the target. The second section is located in the top center of the invoice, is unlabeled,…nder the last-in, first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on year-ending inventory levels. Unit Price ($) Product EndingInventory Beginning Ending A 500 0.17 0.19 B 50 1.60 1.80 C 100 4.50 4.20 D 40 12.00 13.20 Use the beginning-of-the-year price per unit as the base-period price and develop a weighted aggregate index for the total inventory value at the end of the year. (Round your answer to the nearest integer.) I = What type of weighted aggregate price index must be developed for the LIFO inventory valuation? Laspeyres IndexPaasche index
- Given the number of periods and an interest rate per period, and you wanted to convert a present single amount of money to a uniform end-of-period payments, which of the following formulas would you use?a)USCRFb)PWCAFc)SPCAFd)USPWFA farmer uses K units of machinery and L hours of labor to produce C tons of corn, with the production function, C= 2L0.5 K. The farmer currently uses L = 20 and K = 10. Suppose the input price ratio is w/r = 1. What would you tell the farmer to do in order to minimize his cost of production given the current level of output? a. You should use more machinery and more labor. b. You should use more machinery and less labor. c. You should use less machinery and more labor. d. You should use less machinery and less labor. Suppose that a latte can only be produced by using exactly 1 ounce of espresso (E) and 3 ounces of milk (M). What is the firm's cost function if the price of espresso is 0.50 per ounce and the price of milk is 0.10 per ounce? a. C = 4q b. C = 0.8q c. C = 0.4q d. C = 160q e. C = 80qExplain in some detail how the PrecisionTree calculations in Figure 6.11 for the Acme problem are exactly the same as those for the hand-drawn decision tree in Figure 6.6. In other words, explain exactly how PrecisionTree gets the monetary values in the colored cells in Figure 6.11. If your answer is negative number, enter "minus" sign. Market EMV Great ( $18 × - $ ) = $ Fair ( $18 × - $ ) = $ Awful ( $18 × - $ ) = $ Total 0.45 × __ $ + 0.35 × ___$ + 0.20 × ___ $ = ___ $