Write an expression for total profit.
To establish a driver education school, organizers must decide how many cars, instructors, and students to have. Costs are estimated as follows. Annual fixed costs to operate the school are $30,000. The annual cost per car is $3000. The annual cost per instructor is $11,000 and one instructor is needed for each car. Tuition for each student is $350. Let x be the number of cars and y be the number of students.
P(x,y) = 350y ? (30000 + 14000x)
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The cost of computer hardware to be purchased for a new system is an example of a(n) ____ cost for that system
a. direct cost b. indirect cost c. intangible cost d. recurring cost
Greenway Company's balance sheet as of December 31, Year 1 is provided below:Greenway CompanyBalance SheetDecember 31, Year 1Assets? Cash$ 35,000 Accounts receivable 40,000 Inventory 25,000 Plant and equipment, net of depreciation 300,000Total assets$ 400,000??Liabilities and stockholders' equity? Accounts payable$ 30,000 Notes payable 50,000 Capital stock, no par 200,000 Retained earnings 120,000Total liabilities and stockholders' equity$ 400,000In anticipation of preparing the company's operating budget for the upcoming period, the company's accountant has gathered the following information:(a) December Year 1 sales were $220,000. Sales are expected to grow at a rate of 8% per month. Half of all sales
are for cash and half are on account.(b) Inventory purchases are expected to total $100,000 during January and the inventory account is expected to have a $28,000 balance at January 31, Year 2. All inventory purchases are on account.(c) Selling and administrative expenses for January Year 2 are budgeted at $60,000 (exclusive of depreciation) plus 10% of sales. Selling and administrative expenses are paid in cash. Depreciation is budgeted at $3,000 for the month.(d) The notes payable will be paid in January, Year 2. The amount due will be $50,500. The $500 represents interest expense for the month of January, Year 2.(e) The company expects to purchase a new machine during January Year 2 at a cost of $5,000. Required:Prepare a budgeted income statement for the month of January Year 2. Use the traditional income statement format and ignore income taxes. What will be an ideal response?
An agent has a duty to keep and make available to the principal an account of all property and funds received and paid out on the principal's behalf.?
Indicate whether the statement is true or false
In terms of revenues and costs for a project, which of the statements below is FALSE?
A) Projected revenues and costs are estimates of future activity. B) Estimates of revenues and costs begin with operating cash flow of the project. C) Projected revenues and costs form the basis of the potential for a project's acceptance or rejection. D) Estimates of revenues and costs begin with sales forecasts and the production costs associated with the sales forecast.