a. If they charge $32 to clear a normal-size home driveway, how many jobs would they need to break even?
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![Question 3a
Peter and John are considering the possibility of
doing snow removal during the winter. A snow
blower and a shovel would cost them $676.
Since Peter would do all the work, with
occasional help from John, their cost per job
would be about $3.
a. If they charge $32 to clear a normal-size
home driveway, how many jobs would they need
to break even?
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- Which one of the following statements is false? Group of answer choices A.Bill drives 20 each way between his home to his office – 40 miles round trip each day. During the day he drives to a client site. He drives a total of 63 miles that day. He may deduct the cost of 43 miles. B.Commuting expenses may be deductible if you are transporting tools. C.A consultant works out of her home. She may deduct the cost of driving to a client’s place of business. D.The expenses of driving between your regular job and a second job are deductible.Please solve this: Blue Mountain Cabin Jack and Jill Smith have just retired and want to build a small, basic cabin in the Blue Mountains of Vermont. They have hired Daryl Hannah as the general contractor for the project. She has assembled a team of three workers to complete the project: Tom, Dick, and Harry. Daryl has negotiated a cost-plus contract with the Smiths whereby she will receive 15 percent beyond the cost of labor and materials. Before they sign the contract the Smiths want an estimate of how much the project is likely to cost and how long it will take Darryl has estimated that the cost for materials, permits, etc, will total $40,000. She wants to determine labor costs as well as how long the project will take. This is one of sev- eral projects Daryl is managing, and other than occasionally helping out, her role is strictly limited to supervising. She has devised the following master plan and assignments. Note that Dick is the only skilled plumber in the group while Harry…Kathleen Taylor is a high school student who has been investigating the possibility of mowing lawns for a summer job. She has a couple of friends she thinks she could hire on an hourly basis per job. The equipment, including two new lawnmowers and weedeaters, would cost her $500, and she estimates her cost per lawn, based on the time required to pay her friends to mow an average residential lawn (and not including her own labor) and gas for driving to the jobs and mowing, would be about $14. a. If she charges customers $30 per lawn, how many lawns would she need to mow to breakeven? b. Kathleen has 8 weeks available to mow lawns before school starts again, and she estimates that she can get enough customers to mow at least three lawns per day, 6 days per week. How much money can she expect to make over the summer? c. Kathleen believes she can get more business if she lowers her price per lawn. If she lowers her price to $25 per lawn and increases her number of jobs to four per day…
- Suppose Charles owns a lawn-mowing company. Assume that without workers, no yards are mowed. When he hires one worker, he is able to mow 2 yards per day. With two workers, he can mow 5 yards per day, and with three workers, he can mow 10 yards per day. The marginal product of the second worker is ? yards per daySuppose Charles owns a lawn-mowing company. Assume that without workers, no yards are mowed. When he hires one worker, he is able to mow 2 yards per day, With two workers he can now 5 yards per day and with a three workers he can now 10 yards per day. The marginal product of the first worker is 2 yards per day The marginal product of the second worker is 3 yards per day The marginal product of the third worker is ? yard per dayYou own a piece of raw land in an up-and-coming area in Gotham City. The costs to construct a building increase disproportionately with the size of the building. A building of q square feet costs 0.1*q^2 to build. After you construct a building on the lot, it will last forever, but you are committed to it: You cannot put another building on the lot. Buildings currently rent at $ 97 per square foot per month. Rents in this area are expected to increase in five years. There is a 49 % chance that they will rise to $ 199 per square foot per month and stay there forever and a 51% chance that they will stay at $ 97 per square foot per month forever. The cost of capital is fixed at 11.9% per year. a. Should you construct a building on the lot right away? If so, how large should the building be? b. If you choose to delay the decision, how large a building will you construct in each possible state in five years? (Make sure to state how big of a building you build if the rent is $199/sq…
- Grace Kelly is a high school student who has been investigating the possibility of mowing lawns for a summer job. She has a couple of friends she thinks she could hire on an hourly basis per job. The equipment, including two new lawnmowers and weed-eaters, would cost her €500, and she estimates her cost per lawn, based on the time required to pay her friends to mow an average residential lawn (and not including her own labour) and gas for driving to the jobs and mowing, would be about €14. a) If she charges customers €30 per lawn, how many lawns would she need to mow to break even? Represent this graphically b) Grace has 8 weeks available to mow lawns before school starts again, and she estimates that she can get enough customers to mow at least 3 lawns per day, 6 days per week. How much money can she expect to make over the summer? c) Grace believes she can get more business if she lowers her price per lawn. If she lowers her price to €25 per lawn and increases her number of jobs to 4…Joe Fixit has an appliance-repair business. He has more business than hecan handle and wants to hire another repair person. Joe estimates thatthree appliances can be repaired each hour by a qualified person. Joe billsout labor at $45 per hour, but he stipulates that the minimum charge forappliance-repair estimates is $30 plus parts. What is the marginal revenueproduct of a qualified repair person? What is the maximum hourly wagethat he would pay an employee?Marvin Turner was discussing summer employment with Tina Song, president of Motown Construction Service:Tina: I’m glad you’re thinking about joining us for the summer. We certainly can use the help. Marvin: Sounds good. I enjoy outdoor work, and I could use the money to help with next year’s school expenses.Tina: I’ve got a plan that can help you out on that. As you know, I’ll pay you $14 per hour, but in addition, I’d like to pay you with cash. Since you’re only working for the summer, it really doesn’t make sense for me to go to the trouble of formally putting you on our payroll system. In fact, I do some jobs for my clients on a strictly cash basis, so it would be easy just to pay you that way.Marvin: Well, that’s a bit unusual, but I guess money is money.Tina: Yeah, not only that, it’s tax-free!Marvin: What do you mean?Tina: Didn’t you know? Any money that you receive in cash is not reported to the IRS on a W-2 form; therefore, the IRS doesn’t know about the income—hence, it’s the…
- Anita Tahani, who owns a travel agency, boughtan old house to use as her business office. Shefound that the ceiling was poorly insulated andthat the heat loss could be cut significantly if sixinches of foam insulation were installed. She estimatedthat, with the insulation, she could cutthe heating bill by $40 per month and the airconditioningcost hy $25 per month. Assumingthat the summer season is three months (June,July, and August) of the year and that the winterseason is another three months (December, January,and February) of the year, what's the mostthat Anita can spend on insulation that wouldmake installation worthwhile, given that she expectsto keep the property for five years? Assumethat neither heating nor air conditioningwould be required during the fall and springseasons. If she decides to install the insulation, itwill be done at the beginning of May. Anita's interestrate is 9% compounded monthly.Gloria is planning on opening a cake shop. She has found a location that rents for $15,550 per year and it will cost her another $13,716 to furnish the shop and purchase all the necessary equipment. She plans on charging $20 for a cake and it will cost her $3 per cake for ingredients and $1.92 per cake for decorations and $1.59 per cake for the beautiful, colorful to-go boxes. What is the dollar breakeven point she will need to earn to cover her costs in the first year? Round to the nearest whole number.Janice Huffman has decided to start Rundle Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $760 per month. Labor costs are expected to be $90 per house cleaned and supplies are expected to cost $6 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Rundle Cleaning cleans 20, 30, or 40 houses during one month. Is the cost of supplies a fixed or a variable cost? d.…