y = 23x + 16, where y is the total cost and x the number of hours.
selling price
Dees nuts
Two pounds of apples costs 20 bananas. A stupid question without enough information equals a stupid answer!
I would find the cost per ounce by dividing $0.99/8 which equals $0.12375 per ounce.
Multiply 269.99 times 0.09 (That's how much tax for one dollar costs these days). Then you get about how much is the tax then add 269.99 again.
One fundamental accounting equation is the same for business. Variable cost plus fixed costs equals total costs. This will help accountants when they are pricing products.
If you can prove that the plumber's actions were the proximite cause of the water main break you can sue him to recover for damages and costs.
When buying products, let's say Nutella, each small jar costs $2.99 while each large jar costs $4.99. The shopper can set up the equation 2.99x + 4.99y = c Where x equals the number of small jars bought, y equals the number of large jars bought, and x equals the total cost.
Consider all your costs, fixed and variable, then subtract your total costs from the product of your income per unit sold multiplied by the units sold. The amount of units sold where this equation equals zero is the break even point.
If marginal costs are relevant for specific situation or specific decision making scenario then marginal costs are relevant costs otherwise marginal costs can be irrelevant.
Sales revenue - Variable costs - Fixed costs = Profit
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Profits are maximized when marginal costs equals marginal revenue because fixed costs are now spread over a larger amount of revenue. This means that total cost per unit declines and profits increase. Another way to say this is that this is the effect of scale. When marginal revenue equals marginal costs, in a growing revenue situation, you gain economies of scale and higher profits.
Profit = total revenue - total costs is the fundamental mathematical equation for business.
Total costs = Fixed Costs + Per-Unit-Variable Cost x # Units
Spreadsheets are great for anything to do with numbers and statistics. A plumber could be doing things with numbers, like calculating how many jobs he has, costs of supplies he needs or amounts of supplies he has or needs. A plumber could also use the spreadsheet for storing data on jobs, like if he had to record pressure in pipes and compare them to others.
Outcome (O)= Rewards(R)-Costs(C)