A tea mixture was made from $30 \mathrm{~lb}$ of tea that costs $\$ 6.00$ per pound and $70 \mathrm{~lb}$ of tea that costs $\$ 3.20$ per pound. Find the cost per pound of the tea mixture.

The handwritten signs indicate that a piece of pie costs $.10\cancel{c}$ and a cup of coffee costs $.5\cancel{c}$. Assuming these are the actual prices, how many pieces of pie can you get for $\$ 1.00$?

Sandi buys 5 fewer packages of pencils than p packages of pens. Pencils costs $2.25 per package and pens costs$3 per package. What does the expression 3p + 2.25(p - 5) represent?

A company sells different sizes of gift baskets with a varying assortment of meat and cheese. A basic basket with 2 cheeses and 3 meats costs $15, a big basket with 3 cheeses and 5 meats costs$ 24, and a super basket with 7 cheeses and 10 meats costs $ 50. Write and solve a system of equations using the information about the big and super baskets.

Lawrence Company is a manufacturer of contemporary door handles. The vice president of Design attends home shows twice a year so the company can keep current with home trends. Because of its volume, Lawrence uses process costing to account for production. Costs and output figures for August are as follows:

$$\begin{matrix} \text{Lawrence Company's Process Costing for the Month Ended August 31, 2017}\\ & \text{Units} & \text{Direct Materials} & \text{Conversion Costs}\\ \text{Standard cost per unit} & \text{} & \text{\$5.75} & \text{\$12.25}\\ \text{Work in process, beginning inventory (Aug. 1)} & \text{15,000} & \text{\$86,250} & \text{\$55,125}\\ \text{Degree of completion of beginning work in process} & \text{} & \text{100\\\%} & \text{30\\\%}\\ \text{Started in August} & \text{100,000}\\ \text{Completed and transferred out} & \text{95,000}\\ \text{Work in process, ending inventory (Aug. 31)} & \text{20,000}\\ \text{Degree of completion of ending work in process} & \text{} & \text{100\\\%} & \text{80\\\%}\\ \text{Total costs added during August} & \text{} & \text{\$569,000} & \text{\$1,307,240}\\ \end{matrix}$$

1. Compute equivalent units for direct materials and conversion costs. Show physical units in the first column of your schedule. 2. Compute the total standard costs of handled transferred out in August and the total standard costs of the August 31 inventory of work in process. 3. Compute the total August variances for direct materials and conversion costs. 4. Prepare summarized journal entries to record both the actual costs and standard costs for direct materials and conversion costs, including the variances for both production costs.

You have $25 to buy trading cards online. each pack of cards costs$4.5. Shipping costs $2.95. Write and solve an inequality to find the number of packs of trading cards you can buy.

Porter Corporation has fixed costs of $\$ 660,000$, variable costs of $\$ 24$ per unit, and a contribution margin ratio of 40 percent.

Compute the following:

a. Unit sales price and unit contribution margin for the above product.

You are thinking of making your home more energy efficient by replacing some of the light bulbs with compact fluorescent bulbs, and insulating part or all of your exterior walls. Each compact fluorescent light bulb costs $4 and saves you an average of$2 per year in energy costs, and each square foot of wall insulation costs $1 and saves you an average of$0.20 per year in energy costs. Your home has 60 light fittings and 1,100 sq. ft. of uninsulated exterior wall. You can spend no more than $1,200 and would like to save as much per year in energy costs as possible. How many compact fluorescent light bulbs and how many square feet of insulation should you purchase? How much will you save in energy costs per year?

The force exerted on a car by a prototype crash barrier as the barrier crushes is $F=-\left(120 s+40 s^3\right) \mathrm{lb}$, where $s$ is the distance in feet from the initial contact. The effective length of the barrier is $18 \mathrm{ft}$. How fast can a 5000-lb car be moving and be brought to rest within the effective length of the barrier?

A company that manufactures compact discs has fixed monthly overhead costs of $\$ 60,000$. Each disc costs $\$ 0.18$ to produce and sells for $\$ 0.30$.

b. Write the revenue function, $R$, from the sale of $x$ discs per month.

Record the journal entry to close over- or underapplied factory overhead to Cost of Goods Sold for each of the separate cases below.

Considering the following pairs of choices for a $\$ 120,000$ mortgage loan. Calculate the monthly payment and total closing costs for below choice. Explain which loan you would choose and why. 1: $30$-year fixed rate mortgage at $4 \%$ with no closing costs and no points Choice 2: $30$ -year fixed rate mortgage at $3 \%$ with closing costs of $\$ 1200$ and $4$ points

Anderson Winery produces a red wine called Old Vines. Recently, management has become concerned about the increasing cost of making Old Vines and needs to determine if the current selling price of $10 per bottle is adequate. The winery wants to achieve a 25 percent gross profit on the sale of each bottle. The following information is given to you for analysis:

$$\begin{array}{lrr} \text{Batch size} & \text{6,264 bottles}\\ \text{Costs:}\\ \text{$\quad$Total direct materials costs} & \$25,056\\ \text{$\quad$Total direct labor costs} & 12,528\\ \text{$\quad$Total overhead costs} & \underline{21,924}\\ \text{Total production costs} & \underline{\underline{\$59,508}}\\ \end{array}$$

1. Compute the unit cost per bottle for materials, labor, and overhead.

2. How would you advise management regarding the price per bottle of wine? (Round to the nearest cent.)

3. Compute the prime costs per unit and the conversion costs per unit.

Identify the error in the stated conclusion.

Given: There is a linear correlation between state average commuting times and state average commuting costs. Conclusion: There is a linear correlation between individual commuting times and individual commuting costs.