The impact of government revenue and expenditure on economic growth in Nigeria can be analyzed from several perspectives. Government revenue is generated through various sources such as taxes, tariffs, and oil revenue, while government expenditure includes public investments, infrastructure development, social welfare programs, and public services.
Government revenue plays a crucial role in funding public goods and services, promoting economic stability, and supporting development initiatives. Adequate revenue allows the government to invest in infrastructure projects, education, healthcare, and other sectors that contribute to economic growth. It enables the government to create an enabling business environment, attract foreign investment, and stimulate private sector activities.
On the other hand, government expenditure needs to be managed efficiently to ensure its positive impact on economic growth. Prudent spending on infrastructure development can enhance productivity, facilitate trade, and attract investments. Well-targeted social welfare programs can alleviate poverty, improve human capital, and foster a more inclusive economy.
However, challenges such as corruption, inefficient allocation of resources, and excessive public debt can hinder the positive impact of government revenue and expenditure on economic growth. Effective fiscal policies, transparent governance, and proper management of public finances are essential to maximize the benefits.
In Nigeria, government revenue heavily relies on oil exports, making the economy vulnerable to oil price fluctuations. Diversifying revenue sources and reducing dependency on oil revenue can enhance economic resilience and sustain long-term growth.
In summary, government revenue and expenditure have a significant influence on economic growth in Nigeria. Adequate revenue and efficient spending can promote investment, infrastructure development, human capital improvement, and poverty reduction. However, addressing governance challenges and diversifying revenue sources are crucial for sustaining economic growth and mitigating risks.
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The adjusted trial balance of Novak Corp. At December 31, 2019, includes the following accounts: Common Stock $16,400, Dividends $7,300, Service Revenue $37,500, Salaries and Wages Expense $15,600, Insurance Expense $1,500, Rent Expense $3,900, Supplies Expense $1,300, and Depreciation Expense $1,500. Prepare an income statement for the year
The income statement would be as Revenue = $35,000; Salaries and Wages Expense= $13,000; Insurance Expense= $2,000: Retained Earnings as on December 31, 2013 is $17,600.
One of the three crucial financial information used to describe a company's financial performance throughout one certain accounting period is the revenue. The balance sheet and the cash flow statement are the other two important income statements. The revenue, costs, profits, and losses incurred by a corporation over a particular amount of time are the key points of the income statement. An net income, also did refer to as the profit and loss (P&L) remark or the statement of revenue and expenditures, offers important information about than a firm's operations, the effectiveness of its management, underperforming industries, and its performance in comparison to peers in the same industry.
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Select the best alternative for the following questions:
i. Which of the following transactions are not recorded in book keeping?
a) Sold Goods on Credit.
b)
Introduce capital in the business.
c) Resignation of marketing manager.
d) Drawing cash from business for personal use.
..
Answer:
c. the resignation
Explanation:
this would not affect the bottom line of the company and is therefore irrelevant
The adjusted trial balance for Yondel Company at December 31, 2018 is presented below: Accounts Debit Credit Cash $ 8,000 Prepaid rent 23,000 Land 445,000 Accounts payable $ 12,000 Salaries payable 20,000 Common stock 230,000 Retained earnings 109,000 Dividends 14,000 Service revenue 340,000 Salaries expense 160,000 Rent expense 29,000 Utilities expense 32,000 Totals $ 711,000 $ 711,000 Prepare the closing entries for Yondel Company for the year ended December 31, 2018.
Answer:
Explanation:
Cash =8000
Prepaid rent = 23,000
Land = 445000
Accounts payable = 12,000
Salaries payable = 20,000
Retained earnings = 109,000
Dividends = 14,000
Service revenue = 340,000
Salaries expenses = 160,0000
Rent expenses = 29,000
Utilities expenses = 32,000
Net income = Service revenue - Salaries-Rent-Utilities-
=340,000-160,000-29,000-32,000 = 119,000
Journal
1. Debit Service revenue - 340,000
Credit income summary - 340,000
2, Debit Income summary - 221,000
Credit Salaries expenses 160,000
Credit Rent expenses 29,000
Credit Utilities expenses 32,000
3 Debit Income summary 119,000
Credit retained earnings 119,000
4 Debit retained earnings 14,000
Credit retained earnings 14,000
Purchasing Math Quiz
QUESTION 1 of 10: Your beginning inventory was $46,000, your ending inventory is $37,000, your cost of goods sold was $19,000. How
much were your purchases?
If the cost of goods purchased is $380,000, the beginning inventory is $60,000, and the ending inventory is $50,000, the cost of goods sold is $390,000.
What is cost of goods sold?The carrying value of the items sold during a specific time period is the cost of goods sold. Utilizing one of the several methods, including specific identification, first-in-first-out, or average cost, costs are connected to specific commodities. The formula for cost of goods sold is, in its most basic form: starting inventory + purchases ending inventory = cost of goods sold. You need a clear and consistent method for valuing your inventory and accounting for your costs, though, in order for this to actually operate in practise. The costs incurred in producing your items during a specific time period are represented by your costs of goods sold (COGS). COGS is calculated as follows: COGS = initial inventory + purchases - ending inventory.
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Which of the following falls outside of the classification of business expenditures that fall into the category of variable costs?
a) costs that increase with the quantity produced
b) costs of research and development
c) costs related to labor expenditures
d) costs related to physical inputs
The option that falls outside of the classification of business expenditures that fall into the category of variable costs is option C. costs of research and development. Read below about costs of research and development.
What is a costs of research and development?These are costs taken to develop new products or processes that may or may not result in commercially viable items. The general rule is that research and development costs are to be expensed immediately when the costs are incurred.
Therefore, the correct answer is as given above.
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Employees should be included in deciding cost control strategies.
True
False
Toxic materials, of an abnormally dangerous nature, were being transported by truck from a manufacturer's plant to a warehouse when some of the materials leaked from the truck onto the street a few miles from the plant. A driver lost control of his car when he hit the puddle of spilled toxic materials on the street, and he was injured when his car hit a stop sign. In an action for damages by the driver against the manufacturer based on strict liability, is the driver likely to prevail
Answer:
No, because the drivers injury did not result from the toxicity of the materials.
Explanation:
In the context, a strict liability in this situation will be based on abnormally dangerous nature of the toxic materials that the manufacturer produces. But the strict liability action is required that the risk which materializes to be the same risk which lead the courts to be label the event as 'abnormally dangerous' in its first place itself. In this situation, the toxicity of the materials is not the cause of the injury of the driver, the driver's only cause of action is his negligence while driving.
Of the cartons produced by a company, % have a puncture, % have a smashed corner, and % have both a puncture and a smashed corner. Find the probability that a randomly selected carton has a puncture or a smashed corner.
After Using Venn probabilities, it is found that:
The chance that a randomly selected carton has a puncture or a smashed corner is 15.6%.
In probability, a Venn diagram is a parent with one or more circles inside a rectangle that describes logical relations between events. The rectangle in a Venn plan represents the sample space or the well-known set, that is, the set of all possible outcomes.
In this problem, the activities are:
Event A: Puncture.
Event B: Smashed corner.
The "or" probability is given by:
10% have a puncture, subsequently
6% have a smashed corner, consequently .
0.4% have each a puncture and a smashed corner, hence .
Then:
The likelihood that a randomly chosen carton has a puncture or a smashed nook is 15.6%.
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https://brainly.com/question/24707032#SPJ4I have this assignment on the movie The Founder, i need 6 marketing terms/techniques that were used in the movie, and the meaning. does anyone have any good marketing terms or techniques that were used in the founder? This assignment is due tomorrow.
The film offers fascinating insight into the early brand strategy that underpinned the legendary McDonald's brand. To the cost of the health of millions of people and the world, what director John Lee Hancock shows about Kroc's impact on our food system and food culture is a much wider story.
What good marketing terms or techniques that were used?Marketing is about values in my opinion. In this complex and chaotic environment, there is little likelihood that we will be remembered for very long. No business is. Therefore, we must be very explicit about what we want them to know about ourselves.
Therefore, The brothers improved the productivity of the restaurant by using an assembly line, a method that completely transformed the auto industry. It was known as the Speeder System.
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What is the equal-payment series for 12 years that is equivalent to a payment series starting with $45,000 at the end of the first year and decreasing by $5,000 each over 10 years? interest is 7% compounded annually
The present value is $31,684.79.To find the equal-payment series for 12 years that is equivalent to the given payment series,
We can use the concept of the present value of an annuity. The present value of an annuity is the sum of the present values of all the individual payments in the series, discounted to the present at a given interest rate.
To solve this problem, we can use the concept of present value of an annuity. The present value of an annuity is the sum of the present values of each individual payment in the series.
First, let's calculate the present value of the payment series starting with $45,000 at the end of the first year and decreasing by $5,000 each over 10 years, using the formula for the present value of an annuity:
PV = PMT x [(1 - (1 + r)^-n) / r]
where:
PMT = the payment amount each year
r = the interest rate per year
n = the number of years
In this case, PMT = $45,000 in the first year, decreasing by $5,000 each year over 10 years, so we can use the formula to calculate the present value of this series:
PV = $45,000 x [(1 - (1 + 0.07)^-10) / 0.07] + $40,000 x [(1 - (1 + 0.07)^-9) / 0.07] + ... + $5,000 x [(1 - (1 + 0.07)^-2) / 0.07]
Simplifying this expression, we get:
PV = $45,000 x 6.7849 + $40,000 x 6.0812 + ... + $5,000 x 1.0671
PV = $264,283.50
This is the present value of the payment series starting with $45,000 at the end of the first year and decreasing by $5,000 each over 10 years.
Now, we can use the formula for the equal-payment series to find the annual payment amount that is equivalent to this series over 12 years:
PMT = PV x [(r x (1 + r)^n) / ((1 + r)^n - 1)]
where:
PV = the present value of the payment series
r = the interest rate per year
n = the number of years
In this case, PV = $264,283.50, r = 0.07 (7% per year), and n = 12. Plugging these values into the formula, we get:
PMT = $264,283.50 x [(0.07 x (1 + 0.07)^12) / ((1 + 0.07)^12 - 1)]
PMT = $31,684.79
Therefore, the equal-payment series for 12 years that is equivalent to the payment series starting with $45,000 at the end of the first year and decreasing by $5,000 each over 10 years is $31,684.79 per year for 12 years.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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This software application can be used to organize, analyze, and illustrate data.
Answer:
its Excel :)
Explanation:
I learned abt it
Answer:
person above me
Explanation:
On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty:
• The supplies account balance on March 31 is $5,620, the supplies on hand on March 31 are $1,290.
The appropriate journal entries to record the transaction is: Debit Supplies expense $4,330, Credit Supplies $4,330.
Journal entriesa. Debit Supplies expense $4,330
($5,620- $1,290)
Credit Supplies $4,330
b. Debit Unearned rent $1,250
($5,000/4 months)
Credit Rent earned $1,250
c. Debit Wages expense $2,290
Credit Wages payable $2,290
d. Debit Accounts receivable $16,825
Credit Fees earned $16,825
e. Debit Depreciation expense-Office equipment $4,600
Credit Accumulated depreciation-Office equipment $4,600
Therefore the appropriate journal entries to record the transaction is: Debit Supplies expense $4,330, Credit Supplies $4,330.
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The complete question is:
On March 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Potomac Realty:
a. The supplies account balance on March 31 is $5,620, the supplies on hand on March 31 are $1,290.
b. The unearned rent account balance on March 31 is $5,000 representing the receipt of an advance payment on March 1 of four months’ rent from tenants.
c. Wages accrued but not paid at March 31 are $2,290
d. Fees accrued but unbilled at March 31 are $16,825.
e. Depreciation of office equipment is $4,600.
Required:
Journalize the adjusting entries required on March 31.
Which of the following is true regarding criminal law and business entities?
Multiple Choice
The modern trend in criminal law is to restrict the scope of criminal statutes in terms of criminal culpability for corporations and their principals.
The modern trend in criminal law is to restrict the scope of criminal statutes in terms of criminal culpability for the principals of corporation, but not for the corporation itself.
The modern trend in criminal law is to restrict the scope of criminal statutes in terms of criminal culpability for corporations, but not for their principals.
The modern trend in criminal law is to expand the scope of criminal statutes to include criminal culpability for corporations and their principals.
The following is true regarding criminal law and business entities: The modern trend in criminal law is to expand the scope of criminal statutes to include criminal culpability for corporations and their principals (D)
Business organizations like corporations are considered to be a separate legal entity in the eyes of the law, which means that the corporation is considered as a separate entity and can sue and be sued.
The modern trend in criminal law is to expand the scope of criminal statutes to include criminal culpability for corporations and their principals, this means that both corporations and their principals can be held liable for criminal offenses that the corporation commits.
This trend is done to ensure that business entities are held accountable for any criminal activities they might participate in. Therefore, the correct answer is option D.
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What is the act of gathering information relative to a company's action and the factors that affect the space in which the company operates?
It was the third meeting, but the group had finally agreed on the roles for each member. Cathy felt good about how things were progressing. It seemed that the conflicts had been resolved; Bella and Lewis had actually arrived on time with their tasks completed. Cathy felt they were now a team. They were now in the ________ stage.
Answer: norming
Explanation:
The third stage of a group development model is regarded to as the norming stage. The norming stage is the stage whereby members or teammates start appreciating the strengths that are possessed by each other in the team.
At this stage, there is resolution of conflicts and establishment of leadership positions. Here, everyone is happy with their roles.
the company's break-even in unit sales is closest to: (round your intermediate calculations to 2 decimal places.)
The Company’s break-even in unit sales is 1100 units. A company may calculate the break-even point to evaluate the sales level necessary to cover all of the costs of production.
In other words, break-even point is the point where the total cost of production is equal to the total revenue earned.To calculate the break-even point, one must know the selling price, variable cost per unit, and fixed costs.
The total fixed cost is $23,000. the variable cost per unit.Variable costs refer to expenses that change with sales volume is $15 per unit. The selling price per unit is $30 per unit.
The contribution margin is calculated as the selling price per unit minus the variable cost per unit. It represents the amount available to cover fixed costs and contribute to profit. The contribution margin is $30 – $15 = $15 per unit.
The break-even point in units is calculated by dividing the total fixed cost by the contribution margin. BEP in units = Total Fixed Costs/Contribution Margin = $23,000/$15 = 1533.33, rounded to 1100 units. Therefore, the company's break-even in unit sales is closest to 1100 units.
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Distinguish between 'value' and 'price'.
Genes can be turned on or turned off; not all genes are active at one time.
O False
O True
Answer:
False
Explanation:
explanation
what is 1635436743 times 76354
Answer:
1.2487214e+14
Explanation:
a company budgets overhead cost of $8,832,500 for the next year. the company uses machine hours as its overhead allocation base. if 570,000 machine hours are planned for the next year, what is the company's plantwide overhead rate?
The response is $15.49 for each machine-hour.
What benefit does applying the plantwide overhead rate technique have?Advantages: more precise distribution of overhead expenses. improved control over overhead expenses. Specify the pertinent elements. Utilizing measurements relating to volume, the rate is calculated. This approach makes sense when overhead resources are used by distinct products in significantly diverse ways across many departments.
The estimated total overhead expense for the upcoming year is calculated as follows: 8,832,500 + 570,000 ($8,832,500 + 5,70,000) = $9,402,500
570,000 machine hours are expected in total.
The company's plant-wide overhead rate is calculated as follows: Overall projected machine hours (which serves as an overhead allocation base) / Expected total overhead cost for the following year = $8,832,500 / 570,000 = $15.49 per machine hour ( round to two decimal places).
So, the answer is $15.49 per machine hour.
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In CengageNOWv2, all of the accounting problems are multiple choice or utilize drop-down menus. TRUE OR FALSE
The statement all of the accounting problems are multiple choice or utilize drop-down menus is true because participants will learn how to construct and evaluate financial statements such as the balance sheet, income statement, and cash flow statement.
As well as how to calculate and interpret crucial ratios. Business Entity, Money Measurement, Going Concern, Accounting Period, Cost Concept, Duality Aspect Concept, Realisation Concept, Accrual Concept, and Matching Concept are some of the terms used in accounting.
Revenues, costs, assets, and liabilities are the four basic accounting concepts utilized in company. Documents such as balance sheets, income statements, and cash flow statements track and record these elements. When respondents choose to participate in the study on their own, they make a selection error.
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Utility
By having its machines located inside grocery stores, gas stations, drugstores, etc. , where consumers often shop, state lotteries offer
to the distribution process
By having its machines located inside grocery stores, gas stations, drugstores, etc. , where consumers often shop, state lotteries offer place
to the distribution process.
What is Place Utility?Place utility means making products or services readily available to its customers. Place utility is used to entice customers to a product or service. This relates a specific place to the product or service.
Therefore, the correct answer is place utility
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continuous production systems are typically very rigid and costly to change.
Continuous production systems are characterized by their consistent and uninterrupted flow of goods or services. They are designed to operate at a high volume, producing large quantities of products in a streamlined manner. However, due to their nature, these systems tend to be rigid and costly to change.
One reason for this rigidity is the high level of specialization required in continuous production systems. The equipment and processes are specifically designed for the production of a particular product. Any changes to the system would necessitate reconfiguring or replacing the equipment, which can be time-consuming and expensive. For example, in a manufacturing plant that produces automobiles, retooling the assembly line to accommodate a different model would involve significant costs and downtime.
Additionally, continuous production systems often rely on economies of scale to achieve efficiency. This means that the cost per unit decreases as the volume of production increases. However, this also means that any changes to the system, such as introducing new products or modifying existing ones, may disrupt the economies of scale and result in higher costs per unit.
In summary, continuous production systems are typically very rigid and costly to change due to the specialized equipment and processes involved, as well as the reliance on economies of scale. These factors make it challenging and expensive to alter the system to accommodate new products or modifications.
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You have won a labor contract negotiation with 7.6% pay increase retroactive for six months. Write a program in C# that gets the employee's previous annual salary as initial pay (20points) and outputs the amount of retroactive pay due to the employee (20 points), the new annual salary (20 points), and the new monthly salary (20 points). Use variables (20 points) to store previous annual salary, retroactive pay, new annual salary, and new monthly salary. Sample Screen Display: Congratulations! You won an annual increase in pay as much as 7.6%. There is more! This pay raise is RETROACTIVE! (This increase will be applied to your past six pay.) Now please tell me your last year's annual salary: 54900 Based on your last year's annual salary of $54,900 Your six months' retroactive pay is: $2,086.20 Your new annual salary will be: $59,072.40 And your new monthly salary will be: $4,022.70
Here is the solution to the given problem:Solution:using System; class Program { static void Main(string[] args) { Console.WriteLine("Congratulations! You won an annual increase in pay as much as 7.6%. There is more! This pay raise is RETROACTIVE!"); Console.Write("Now please tell me your last year's annual salary: $"); double initialSalary = Convert.ToDouble(Console.ReadLine()); double retroPay = initialSalary * 0.076 / 2; double newAnnualSalary = initialSalary + initialSalary * 0.076; double newMonthlySalary = newAnnualSalary / 12; Console.WriteLine("\nBased on your last year's annual salary of ${0:0.00}", initialSalary); Console.WriteLine("Your six months' retroactive pay is: ${0:0.00}", retroPay); Console.WriteLine("Your new annual salary will be: ${0:0.00}", newAnnualSalary); Console.WriteLine("And your new monthly salary will be: ${0:0.00}", newMonthlySalary); Console.ReadLine(); } }Explanation:The given program is written in C# language that is used to calculate the retroactive pay, new annual salary, and new monthly salary of an employee.
The program first reads the initial annual salary of an employee using Console.ReadLine() method and stores it in a variable called initialSalary.The retroactive pay is calculated by multiplying the initialSalary with 0.076 and then divided by 2. The result is stored in a variable called retroPay.The new annual salary is calculated by adding initialSalary with the multiplication of initialSalary with 0.076. The result is stored in a variable called newAnnualSalary.The new monthly salary is calculated by dividing newAnnualSalary with 12. The result is stored in a variable called newMonthlySalary.Finally, the results are displayed using Console.WriteLine() method along with string literals and variables.
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You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".
what is the purpose of creating a prototype?
Answer:
Prototypes provide a way to see how a possible product, idea, design, etc., would function in natural environments (not in the lab/workshop), but in the real world. They also can let designers, and those building it see if there are anything that needs to be changed or altered.
A(n) ________ change involves introducing a practice that is new to the industry, such as using drones (rather than delivery trucks) to deliver products to customers.
A radically innovative change involves introducing a practice that is new to the industry, such as using drones (rather than delivery trucks) to deliver products to customers.
What is meant by innovation?This is the term that is used to refer to the fact that there is the growth in new ideas in a nation. It is one of the must have qualities of an entrepreneur. Innovation is known to drive change in the nation towards a ore positive goal.
The innovative change would help to bring in a product that is not in the market which would be useful in meeting and solving the problems that are existent in a particular society.
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6. At the Sunshine Hotel’s restaurant, total fixed costs in May
2022 were $26,422. In that month, 16,228 covers were served. What
was the fixed cost per cover for May? (Result rounded to hundredth
o
The fixed cost per cover for May 2022 was $1.63.Given: Total fixed costs in May 2022 = $26,422Number of covers served in May 2022 = 16,228Fixed cost per cover can be calculated by dividing the total fixed costs by the number of covers served.
Fixed cost per cover = Total fixed costs / Number of covers served Fixed cost per cover = $26,422 / 16,228 Fixed cost per cover = $1.63098728 Rounding off to hundredth place = $1.63 Therefore, the fixed cost per cover for May 2022 was $1.63.
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why is freshness of ingredients important in salad preparation