Home / Questions / Shawn Paris builds alarm clocks by hand. He pays $900 for 50 board feet of wood for the ca
Shawn Paris builds alarm clocks by hand. He pays $900 for 50 board feet of wood for the cases. Each clock requires 3 board feet of wood to build. The clockworks are purchased at $9 each. Other materials cost $15 per clock. Shawn pays $300 rent and $140 in utilities per month. Shawn produces and sells 10 clocks per month at a price of $450 each.
Required:
a. What is the average cost of a clock?
b. How much profit does Shawn earn on each clock?
c. What is his normal profit per month?
8.Dinah Malek manufactures woven reed baskets by hand on a street corner in downtown Alexandria, Egypt not far from the Mediterranean Sea. Dried reeds cost $90 per bushel which is enough to make 60 baskets of varying sizes and shapes. Dye, to give the baskets their colorful eye-appeal, and other materials cost an average of $80 per month. While Dinah works on the street corner (to attract tourists), she actually has a small shop located just down a side street where employees make most of the baskets. She pays rent of $250 per month while utilities cost another $50 monthly. Labor costs typically run about $10 per basket.
During an average month, Dinah's operation produces and sells 200 baskets.
Required:
a.What is the average cost to produce a basket?
b.Assuming an average sale price of $50 per basket, how much profit does Dinah earn on each one?
c.On the average, what is Dinah's monthly profit?
Dec 24 2019 View more View Less
A $2,900 face value corporate bond with a 6.8 percent coupon (paid semiannually) has 12 years left to maturity. It has had a credit rating of BBB and a yield to maturity ...
Apr 18 2020Unit 2 Effect of Behavior on Marketing (DB)For this assignment, you must make a 500 750-word posting to the Discussion Board in which you discuss how teenagers attitudes ...
Jul 27 2020An electronic device, in the form of a disk 20 mm in diameter, dissipates 100 W when mounted flush on a large aluminum alloy (2024) block whose temperature is maintained ...
Jun 27 2020In the context of bankruptcy prediction models, your textbook calls the Type I error the more costly kind of an error. It is because it causes a lender to:Not give loan t...
Aug 31 2020Assume the switch in the circuit of Figure P5.69 has been closed for a very long time. It is suddenlyopened at t = 0 and then reclosed at t = 5 s. Determine an expression...
Jun 19 2020A commuter airline flies planes that have 4 first class seats and 20 coach seats. Because many people that make reservations on their flights don't show up, the airli...
Apr 08 2020The Consolidated Oil Company must install antipollution equipment in a new refinery to meet federal clean-air standards. Four design alternatives are being considered, wh...
Apr 10 2020Why is the price elasticity of demand represented by a minus sign?
Apr 06 20211. What output will maximize total revenue if TR = 250q - 2q22. If a firm faces the demand schedule p = 90 - 0.3q how much does it have to sell to maximize sales revenue?...
Apr 10 2020Which of the following depicts the figure below 15 14 13 12 11 0 1 1 1 1 (a) Register reference (b...
Jan 10 2018