The Pacific Corporation operates car rental agencies at more than 20 airporta. Customers can choose from one of three contracts for car rentals of 1 day or less: i (Click the icon to view the contract information.) Read the reguirements. More info • Contract 1: $55 for the day • Contract 2: $35 for the day plus $0.20 per mile traveled • Contract 3: $1.20 per mile traveled Requirement 1. Plot separate graphs for each of the three contracts, with costs on the vertical axis and miles traveled on the horizontal axis. First let's draw the graph for contract 1. (Use the line tool button displayed below to draw the graph.) Contract 1 Print Done - X Requirements

The Pacific Corporation operates car rental agencies at more than 20 airporta. Customers can choose from one of three contracts for car rentals of 1 day or less: i (Click the icon to view the contract information.) Read the reguirements. More info • Contract 1: $55 for the day • Contract 2: $35 for the day plus $0.20 per mile traveled • Contract 3: $1.20 per mile traveled Requirement 1. Plot separate graphs for each of the three contracts, with costs on the vertical axis and miles traveled on the horizontal axis. First let's draw the graph for contract 1. (Use the line tool button displayed below to draw the graph.) Contract 1 Print Done - X Requirements

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5PB: Review the following transactions and prepare any necessary journal entries. A. On January 5, Bunnet...

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Mark Ewing has decided to enter contract with uber service provider in his area. The driver offers a car variety of mileage or distance to be travelled to him. All contracts were to be signed for three years. The first option has a monthly rent of P3,000, with a total mileage allowance of 36,000 kilometers (an average of 12,000 kilometers per year) and a cost of P35 per kilometer for any kilometers over 36,000. The following table summarizes each of the Uber Service Contract offered to him: 3-Year Contract Monthly Cost Mileage Allowance Cost Per Excess Kilometer Option A P3,000 30,000 P 35 Option B P3,500 45,000 P 25 Option C P4,000 54,000 P 15 Mark has estimated that, during the 3 years of the agreement, there is a 40% chance he will drive an average of 12,000 kilometers per year, a 30% chance he will drive an average of 15,000 miles per year, and a 30% chance that he will drive 18,000 miles per year. In evaluating the options, Mark would…
Mark Ewing has decided to enter contract with uber service provider in his area. The driver offers a car variety of mileage or distance to be travelled to him. All contracts were to be signed for three years. The first option has a monthly rent of P3,000, with a total mileage allowance of 36,000 kilometers (an average of 12,000 kilometers per year) and a cost of P35 per kilometer for any kilometers over 36,000. The following table summarizes each of the Uber Service Contract offered to him: 3-Year Contract Monthly Cost Mileage Allowance Cost Per Excess Kilometer Option A P3,000 30,000 P 35 Option B P3,500 45,000 P 25 Option C P4,000 54,000 P 15 What decision would Mark make if he wanted to minimize her expected cots (monetary value)? Calculate the expected value of perfect information for this problem.
Miguel Wing has decided to enter contract with uber service provider in his area. The driver offers a car variety of mileage or distance to be travelled to him. All contracts were to be signed for three years. The first option has a monthly rent of P3,000, with a total mileage allowance of 36,000 kilometers (an average of 12,000 kilometers per year) and a cost of P35 per kilometer for any kilometers over 36,000. The following table summarizes each of the Uber Service Contract offered to him: 3-Year Contract Monthly Cost Mileage Allowance Cost Per Excess Kilometer Option A P3,000 36,000 P 35 Option B P3,500 45,000 P 25 Option C P4,000 54,000 P 15 Miguel has estimated that, during the 3 years of the agreement, there is a 40% chance he will drive an average of 12,000 kilometers per year, a 30% chance he will drive an average of 15,000 miles per year, and a 30% chance that he will drive 18,000 miles per year. In evaluating the options, Miguel…
Miguel Wing has decided to enter contract with uber service provider in his area. The driver offers a car variety of mileage or distance to be travelled to him. All contracts were to be signed for three years. The first option has a monthly rent of P3,000, with a total mileage allowance of 36,000 kilometers (an average of 12,000 kilometers per year) and a cost of P35 per kilometer for any kilometers over 36,000. The following table summarizes each of the Uber Service Contract offered to him: 3-Year Contract Monthly Cost Mileage Allowance Cost Per Excess Kilometer Option A P3,000 36,000 P 35 Option B P3,500 45,000 P 25 Option C P4,000 54,000 P 15 Miguel has estimated that, during the 3 years of the agreement, there is a 40% chance he will drive an average of 12,000 kilometers per year, a 30% chance he will drive an average of 15,000 miles per year, and a 30% chance that he will drive 18,000 miles per year. In evaluating the options, Miguel…
Rose Mixer Bhd. is a manufacturer of baking mixer. In January, Rose Mixer Bhd. agreesto sell baking mixers on credit to a customer, Ana Electrical Sdn Bhd. The baking mixerssold are:20 units of baking mixer Model A @ RM1,000 per unit40 units of baking mixer Model B @ RM600 per unitRose Mixer Bhd. gives a credit of 30 days to Ana Electrical Sdn. Bhd. for the debtsettlement.Required:a) Interpret are the goods sold current assets to Rose Mixer Bhd? b) Interpret are the assets sold considered items of trade receivables to Rose MixerBhd in accordance to MFRS 9 Financial Instruments?
Consider each of the following independent situations for Sunrise Tours, a company owned by David Bartlett that sells motor coach tours to schools and other groups. Sunshine Tours owns a fleet of 10 motor coaches and employs 12 drivers, 1 maintenance technician, 3 sales representatives, and an office manager. Sunshine Tours pays for all fuel and maintenance on the coaches. Drivers are paid $0.50 per mile while in transit, plus $15 per hour while idle (time spent waiting while tour groups are visiting their destinations). The maintenance technician and office manager are both full-time salaried employees. The sales representatives work on straight commission. When the office manager receives calls from potential customers, she is instructed to handle the contracts herself. Recently, however, the number of contracts written up by the office manager has declined. At the same time, one of the sales representatives has experienced a significant increase in contracts. The other two…
Consider each of the following independent situations for Sunrise Tours, a company owned by David Bartlett that sells motor coach tours to schools and other groups. Sunshine Tours owns a fleet of 10 motor coaches and employs 12 drivers, 1 maintenance technician, 3 sales representatives, and an office manager. Sunshine Tours pays for all fuel and maintenance on the coaches. Drivers are paid $0.50 per mile while in transit, plus $15 per hour while idle (time spent waiting while tour groups are visiting their destinations). The maintenance technician and office manager are both full-time salaried employees. The sales representatives work on straight commission. Q. One of the motor coach drivers seems to be reaching his destinations more quickly than any of the other drivers and is reporting longer idle time.
Joe has contracted with Supplier A to provide a parking lot for $50,000. This is an example of which type of contract? Cost Plus Fixed Fee Cost Plus Award Fee Fixed Price Time and Materials
Purrfect Pets, Inc. provides animal daycare for $ 28 per day. Customers buy three month packages, which provide 15 days of care per month. In January they received cash payments from 12 customers. For the month of January, they will recognize ________ of revenue under the cash basis, and ________ of revenue under the accrual basis. A. $15,120;$5,040 B. $ 420; $1,260 C. $5,040;$5,040 D. $15,120;$15,120
Connie Is a purchasing assistant for Sabre Manufacturing. She has received quotes from two different suppliers for a shipment of aluminum. Supplier Ns quote Is for $68,808.55 with payment due In 90 days Supplier B will offer the same product, but requires full payment In 15 days lien other terms are the same, below what price would Supplier B's quote need to be In order for to be selected If Sabre pays an Interest rate of 8.25% on Its One of credit with the bank, (Use 365 days a year. Round your answer to 2 decimal places.)
Able Transport operates a tour bus that they lease with terms that involve a fixed fee each month plus a charge for each mile driven. Able Transport drove the bus 7,000 miles and paid a total of $1,360 in June. In October. Able Transport paid $1,280 for the 5,000 miles driven. If Able Transport uses the high-low method to analyze costs, how much would Able Transport pay in December, if they drove 6,000 miles?
Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20 times if the customer pays $700 in advance. Required: Prepare the journal entry to record (1) the customers' prepayment of S700 and (2) Brands mowing of the lawn one time.