Answer: 200
Explanation:
The total storage cost (holding cost) for the year will be calculated as:
= EOQ/2 × Inventory carrying cost
where,
EOQ = optimal order size = 100
We should note that the storage cost of $4 per unit is the inventory carrying cost.
We then put the values in the formula and this will be:
= EOQ/2 × Inventory carrying cost
= 100/2 × 4
= 200
Therefore, the total storage (holding) cost for a year is 200.
Almost everything in economics can be traced back to the law of supply and demand, which states what?
Answer:
The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines the relationship between the price of a given good or product and the willingness of people to either buy or sell it.
Answer:The law of supply and demand is a theory that explains the interaction between the sellers of a resource and the buyers for that resource. The theory defines the relationship between the price of a given good or product and the willingness of people to either buy or sell it.
Florsheim Company, a producer of shoes, has the following information: Income tax rate 21% Selling price per unit $120.00 Variable cost per unit $80.00 Total fixed costs $500,000.00 The contribution margin per unit is ________. A) $0 B) $40.00 C) $80.00 D) $120.00
Answer:
Unitary contribution margin= $40
Explanation:
Giving the following information:
Selling price per unit $120.00
Variable cost per unit $80.00
The contribution margin per unit is calculated using the following formula:
Unitary contribution margin= selling price - unitary variable cost
Unitary contribution margin= 120 - 80
Unitary contribution margin= $40
Historical Art is a new business. During its first year of operations, credit sales were $50,000 and collections from credit sales were $34,000. One account for $500 was written off. Management uses the percent-of-sales method to account for bad debts expense and estimates 3% of credit sales to be uncollectible. the ending balance of allowance for bad debts account is?
A. 1,000
B. 2,505
C. 1,500
D. 465
Answer:
C. 1,500
Explanation:
Credit Sales x 3%
$50,000 x 0.03 = $1,500
Historical Art is a new business. The ending balance of allowance for bad debts account is 1,500. Thus, option (c) is correct.
What is business?
The term business refers to the earning the profit. The business is the taking the risk and the earning the profit. The business are the mainly focuses to the activity of the creating, distribution and selling concept based. The business are the based on the accounting system of the ending.
Determine the debts of the accounts are:
Historical Art is a new business are the account sheet:
The given amount are:
The credit sales were $50,000
The collections from credit sales were $34,000.
The estimates 3% of credit sales
The debts of the accounts = ?
The debts of the accounts = Credit Sales x estimates.
The debts of the accounts = $50,000 x 3%
The debts of the accounts = $1,500
As a result, the Historical Art is a new business. The ending balance of allowance for bad debts account is 1,500. Therefore, option (c) is correct.
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What is this point of becoming a access?
Problem solving and critical thinking are ______ because they use logic and reasoning to develop and evaluate options
Davidsons has 15,000 shares of stock outstanding with a par value of $1 per share and a market value of $45 per share. The balance sheet shows $15,000 in the common stock account, $158,000 in the capital in excess of par account, and $132,500 in the retained earnings account. The firm just announced a stock dividend of 50 percent. What is the value of the retained earnings account after the dividend
Answer: -$205,000
Explanation:
Retained earnings balance = Retained earnings amount - Dividends declared
Dividends declared = Percent dividend * Number of shares * Market value
= 50% * 15,000 * 45
= $337,500
Retained earnings balance after dividend:
= 132,500 - 337,500
= -$205,000
e the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $34,006 Accounts receivable 73,344 Accrued liabilities 6,760 Cash 17,227 Intangible assets 43,450 Inventory 88,373 Long-term investments 92,820 Long-term liabilities 79,618 Notes payable (short-term) 28,798 Property, plant, and equipment 675,759 Prepaid expenses 1,646 Temporary investments 34,230 Based on the data for Harding Company, what is the amount of quick assets?
Answer:
The amount of quick assets is $126,447.
Explanation:
Quick assets can be described as the most highly liquid assets of a company.
The amount of quick assets can be calculated for Harding Company as follows:
Amount of quick assets = Accounts receivable + Cash + Prepaid expenses + Temporary investments = $73,344 + $17,227 + $1,646 + $34,230 = $214,820 = $126,447
Bill is making $100 a week, and is saving for a $500 expense. How long will it
take him to save up enough money if he saves everything he earns?
A. More than 5 weeks
B. Less than 5 weetcs
O C. Exactly 5 weeks
D. Almost a year
Answer:
more than five weeks
Explanation: deductions
Exactly 5 weeks: it takes him to save up enough money if he saves everything he earns. Thus, option C is the correct option.
What is savings?Deferred consumption, or not spending money, is saving. Savings strategies involve setting money away in places including cash, investment funds, pension accounts, and deposit accounts. Reducing expenses, such as regular expenses, is another aspect of saving. Savings refers to any income not spent for immediate consumption.
In terms of personal finance, saving often refers to low-risk preservation of money, such as in a savings account, as opposed to investing, where the risk is much higher. Interest is not always taken into account while saving. Savings are distinct from savings. In contrast to the latter, which refers to either several chances to cut expenditures or one's assets in the form of cash, the former relates to the act of not using one's assets.
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Product Cost Concept of Product Pricing Willis Products Inc. uses the product cost concept of applying the cost-plus approach to product pricing. The costs of producing and selling 200,000 units of medical tablets are as follows: Variable costs per unit: Fixed costs: Direct materials $ 75 Factory overhead $ 800,000 Direct labor 115 Selling and admin. exp. 1,200,000 Factory overhead 30 Selling and admin. exp. 20 Total $240 Willis Products desires a profit equal to a 20% rate of return on invested assets of $12,000,000. a. Determine the total manufacturing costs for the production and sale of 200,000 units
Answer:
Total production cost= $44,800,000
Explanation:
Giving the following formula:
Direct materials $ 75
Factory overhead $ 800,000
Direct labor 115
Factory overhead 30
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Total production cost= 800,000 + 200,000*(75 + 115 + 30)
Total production cost= $44,800,000
The Puyer Corporation makes and sells only one product called a Deb. The company is in the process of preparing its Selling and Administrative Expense Budget for next year. The following budget data are available:MonthlyFixed Cost Variable CostPer Deb SoldSales commissions $ 0.97Shipping $ 1.47Advertising $ 50,700 $ 0.27Executive salaries $ 60,700Depreciation on office equipment $ 20,700Other $ 40,700All of these expenses (except depreciation) are paid in cash in the month they are incurred.If the company has budgeted to sell 15,700 Debs in February, then the total budgeted fixed selling and administrative expenses for February is:
Answer:
the total budgeted fixed selling and administrative expenses for February is $172,800
Explanation:
The computation of the total budgeted fixed selling and administrative expenses for February is shown below:
= Advertising + Executive salaries + Depreciation on office equipment + Other
= $50,700 + $60,700 + $20,700 + $40,700
= $172,800
hence, the total budgeted fixed selling and administrative expenses for February is $172,800
Suppose the cross-price elasticity of demand between oranges and clementines is 4. Holding everything else constant, if the price of oranges increases, then the demand for _____ will _____.
Answer:
Suppose the cross-price elasticity of demand between oranges and clementines is 4. Holding everything else constant, if the price of oranges increases, then the demand for clementines will _decrease_.
Explanation:
The term cross price elasticity tell the responsiveness of demand of one commodity against the price of other commodities. When the value is positive which is 4 in our question, the oranges and clemenities are substitute commodities, both can be replaced with one another. In this case, when price of A increase, the demand for B will decrease.
X Company currently buys a part from a supplier for $14.30 per unit but is considering making the part itself next year. This year, they purchased 3,000 units of this part; next year, they will need 3,500 units. Estimated costs to make the part next year are:'
Answer:
If the part is purchased externally it will cost
$50,050 [$14.3 * 3,500]
If the part is made internally then the costs to be added up is:
Direct material per unit
Direct Labor per unit
Variable overheads per unit
and Fixed overhead per unit
the total of these costs per unit will be multiplied by the units required to be made i.e 3,500.
X Company should choose the option with the lowest total cost for 3,500 units
Explanation:
If the part is purchased externally it will cost
$50,050 [$14.3 * 3,500]
If the part is made internally then the costs to be added up is:
Direct material per unit
Direct Labor per unit
Variable overheads per unit
and Fixed overhead per unit
the total of these costs per unit will be multiplied by the units required to be made i.e 3,500.
X Company should choose the option with the lowest total cost for 3,500 units
Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes. When calculating interest amounts, assume there are 360 days in a year. Round intermediate calculations to 4 decimal places, and round your final answers to the nearest whole dollar. Date of Note Face Amount Interest Rate Term of Note a. January 15 $50,000 6 % 30 days b. April 1 27,000 4 90 days c. June 22 30,000 6 45 days d. August 30 90,000 8 120 days e. October 16 72,000 5 50 days
Answer:
Due Date and Interest on Notes
Date of Note Face Interest Term of Due Date Interest
Amount Rate Note
a. January 15 $50,000 6 % 30 days Feb. 14 $250
b. April 1 27,000 4 90 days June 30 $270
c. June 22 30,000 6 45 days Aug. 18 $225
d. August 30 90,000 8 120 days Jan. 27 $2,400
e. October 16 72,000 5 50 days Dec. 21 $500
Explanation:
a) Data and Calculations:
Date of Note Face Interest Term of Due Date Interest
Amount Rate Note
a. January 15 $50,000 6 % 30 days Feb. 14 $250 (50,000*6%*30/360)
b. April 1 27,000 4 90 days June 30 $270 (27,000*4%*90/360)
c. June 22 30,000 6 45 days Aug. 18 $225 (30,000*6%*45/360)
d. August 30 90,000 8 120 days Jan. 27 $2,400 (90,000*8%*120/360)
e. October 16 72,000 5 50 days Dec. 21 $500 (72,000*5%*50/360)
a. Was Apple wrong for not complying with the FBI’s request?
b. If so, why? If not, why not?
c. What ethical issues are involved in this case?
d. Who are the stakeholders in this situation?
e. Is the company’s decision consistent with its values? Is that important?
During January, Luxury Cruise Lines pays employee salaries of $2 million. Withholdings in January are $153,000 for the employee portion of FICA, $300,000 for federal income tax, $125,000 for state income tax, and $20,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $124,000 for federal and state unemployment tax and $60,000 for the employer portion of health insurance.
Required
Record the employee salary expense, withholdings, and salaries payable.
Answer:
See the journal entry below.
Explanation:
The journal entry will look as follows:
General Journal Debit ($) Credit ($)
Salaries Expense 2,000,000
FICA Taxes Payable 153,000
Federal Income Taxes Payable 300,000
State Income Taxes Payable 125,000
Health Insurance Payable 20,000
Salaries Payable (w.1) 1,402,000
(To record the employee salary expense, withholdings and salaries payable.)
Working:
w.1: Salaries payable = Salaries Expense - FICA Taxes Payable - Federal Income Taxes Payable - State Income Taxes Payable - Health Insurance Payable = $2,000,000 - $153,000 - $300,000 - $125,000 - $20,000 = $1,402,000
what are the examples of energy careers select three options
Answer:
1) Wind Energy Engineers, who design and develop wind farm systems.
2) Chief Sustainability Officers, who oversee green activities at their organizations.
3) Energy Auditors, who conduct audits to determine how energy-efficient homes or buildings are.
Explanation:
Sorry if this isn't what you were looking for, have a nice day!
Answer:Electrical Power-Line Installer
Power Plant Operator
Automotive Service Attendant
Explanation:
What are examples of Energy careers? Select three options.
× Carpenter
× Video Editor
Electrical Power-Line Installer
× Printing Press Operator
Power Plant Operator
Automotive Service Attendant
Using the same acquisition date balance sheets as above. Assume instead that Pinehollow acquired 80% of the outstanding stock of Stonebriar by issuing 80,000 shares of its $1 par value stock. The shares have a fair value of $15 per share. Pinehollow also paid $25,000 in direct acquisition costs. What is the amount of goodwill that will be included in the consolidated balance sheet immediately following the acquisition
Answer:
See explanation
Explanation:
There is missing information on this question. I tried to look for it online but I could not find it. However I have provided explanation to solve the problem detailed below :
Goodwill is the excess of the Purchase Consideration / Price over the Net Assets taken over at the acquisition date.
So the first step is to determine the acquisition date fair value of Assets and Liabilities acquired. Do not use Book Values. If given book values, adjust them to fair value.
Net Assets = Assets at Fair Value - Liabilities at Fair Value
The next step is to calculate the Goodwill Amount to be included in Consolidated Statement. Purchased Goodwill is included in Financial Statements.
Goodwill = Purchase Price - Net Assets Acquired
Purchase Price :
Issue of Shares (80,000 x $15) $1,200,000
Acquisition Costs $25,000
Purchase Price $1,225,000
Which of the following is true about duration and modified duration?
I. The Macaulay duration calculates the weighted average time before a bondholder would receive the bond's cash flows.
II. Modified duration measures price sensitivity of a bond to changes in YTM by adjusting duration with a factor based on current yield.
III. The value of duration and modified duration are usually very close, but duration is almost always a larger number.
a. Only I and II are true.
b. All but IV are true.
c. Only II and III are true.
d. All are true.
Answer:
The truth about Macaulay Duration and Modified Duration is:
d. All are true.
Explanation:
Principally, the Macaulay Duration, used mainly with immunization strategies, measures the weighted average time an investor holds a bond until the period when the present value of the bond’s cash flows equals to the initial bond amount.
On the other hand, the Modified Duration, providing a risk measure by being sensitive to interest rates, identifies the amount by which the duration changes for each percentage change in the yield and, at the same time, measures how the amount of a change in the interest rates impacts a bond's price.
Karen and Anika, the owners of a new personal assistant firm called Assist You 2, are interested in offering their services in a community filled with other start-up firms and local shops. Now that they have completed the segmentation and targeting processes, to ensure that they are best positioning their service within this community, they must next Multiple Choice evaluate feedback from their customers. identify their target market. understand the position of their competitors. identify their market segment.
Answer:
understand the position of their competitors.
Explanation:
For a business to strive in an environment where competitors are also operating it is very important to have a good understanding of position of competitors in the market place.
In the given scenario there are other other start-up firms and local shops operating in the same community.
The business has completed the segmentation and targeting processes, to ensure that they are best positioning their service within this community.
Next they will have to understand the competition's aims, strategies, and strengths in order to adequately counteract them.
If government expenditure rises by $27.5 billion and the multiplier in the economy is 2.5, then: ___________
a. real GDP falls by $55 billion, and the IS curve shifts to the left.
b. real GDP rises by $27.5 billion, and the IS curve shifts to the right.
c. real GDP rises by $68.75 billion, and the IS curve shifts to the right.
d. real GDP falls by $11 billion, but the IS curve does not shift.
Answer:
c. real GDP rises by $68.75 billion, and the IS curve shifts to the right.
Explanation:
An increase in the government expenditure will result in the rise of real GDP. This will result in the IS curve to shift to the right. However, in the case of multiplier effect, this occurrence causes a bigger increase in the national income due to the initial injection into the economy.
Therefore, the rise in government expenditure by $27.5 billion will cause real GDP to rise. Ultimately options A and D are eliminated as they mention fall in GDP.
Moreover, since the multiplier in the economy is 2.5, this will increase the government expenditure to $68.75 billion (27.5 billion x 2.5). Hence, option C is correct.
Maria, a citizen and resident of Mexico, received the following investment income during 2018: $1,000 of dividend income from ownership of stock in a U.S. corporation, $2,000 interest from a bond issued by a U.S. corporation, $3,000 of rental income from property located in the United States, and $500 capital gain from sale of a stock in a U.S. corporation. How much of Maria’s income will be subject to U.S. taxation in 2018?
Answer: $6,000
Explanation:
Maria is a citizen and resident of Mexico so the only way the U.S. can tax Maria is by taxing income that is in U.S. jurisdiction before it comes to Maria.
This will include the dividend from ownership of stock in a U.S. Corporation, the interest from a U.S. company issued bond and rental income from a property located in the U.S.
The U.S. will be unable to tax the capital gain from sale of stock however because the sale might not be conducted in the U.S.
Income subject to U.S. taxation is therefore:
= 1,000 + 2,000 + 3,000
= $6,000
Incentive Corporation was authorized to issue 12,000 shares of common stock, each with a $1 par value. During its first year, the following selected transactions were completed:
Issued 5,400 shares of common stock for cash at $24 per share.
Issued 1,400 shares of common stock for cash at $27 per share.
Complete the table below, indicating the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.
Assets = Liabilities + Stockholders’ Equity
a.
b.
Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
1. Record the issuance of 5,100 shares of common stock with a par value $2 for a price of $21 per share.
2. Record the issuance of 1,100 shares of common stock with a par value $2 for a price of $24 per share
3. Prepare the stockholders’ equity section as it should be reported on the year-end balance sheet. At year-end, the accounts reflected Net income of $200.
INCENTIVE CORPORATION
Balance Sheet (Partial)
At December 31
Stockholders’ Equity
Contributed Capital:
Total Contributed Capital 0
Total Stockholders’ Equity $0
+
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4. Incentive Corporation has $49,000 in the company’s bank account. What is the maximum amount of cash dividends the company can declare and distribute?
Maximum amount of cash dividends=
Answer:
Incentive Corporation
A. Assets = Liabilities + Stockholders’ Equity
a. Assets (Cash +$129,600 )= Liabilities + Stockholders' Equity (Common stock +$5,400 and Additional Paid-in Capital $1124,200)
b. Assets (Cash +$37,800 )= Liabilities + Stockholders' Equity (Common stock +$1,400 and Additional Paid-in Capital $36,400)
B. Journal Entries:
Debit Cash $129,600
Credit Common stock $5,400
Credit APIC $124,200
To record the issuance of 5,400 shares of common stock for cash at $24.
Debit Cash $37,800
Credit Common stock $1,400
Credit APIC $36,400
To record the issuance of 1,400 shares of common stock for cash at $27.
C. Journal Entries:
1. Debit Cash $107,100
Credit Common stock $10,200
Credit APIC $96,900
To record the issuance of 5,100 common stock shares with $2 par value for $21 per share.
2. Debit Cash $26,400
Credit Common Stock $2,200
Credit APIC $24,200
To record the issuance of 1,100 common stock shares with $2 par value for $24 per share.
3. Stockholders' Equity
INCENTIVE CORPORATION
Balance Sheet (Partial)
At December 31
Stockholders’ Equity
Contributed Capital:
Common Stock $6,200
Additional Paid-in Capital 121,100
Total Contributed Capital $127,300
Net income 200
Total Stockholders’ Equity $127,500
4. The maximum amount of cash dividends that Incentive Corporation can declare and distribute is $200, despite having $49,000 in the bank account.
Explanation:
a) Data and Calculations:
Authorized shares, 12,000 of common stock at $1 par value
Net income at year-end = $200
Cash balance at bank = $49,000
Transactions:
Cash $129,600 Common stock $5,400 APIC $124,200
Cash $37,800 Common stock $1,400 APIC $36,400
b) Transactions:
1. Cash $107,100 Common stock $10,200 APIC $96,900
2. Cash $26,400 Common Stock $2,200 APIC $24,200
ABC reports income tax expense of $800,000. Income tax payable at the beginning and end of the year are $50,000 and $70,000, respectively. What is the amount of cash paid for income taxes
Answer: $780,000
Explanation:
Income taxes paid for the year are:
Cash paid for income taxes = Beginning income tax payable + Income tax expense - Ending income tax payable
= 50,000 + 800,000 - 70,000
= $780,000
World Company expects to operate at 80% of its productive capacity of 50,000 units per month. At this planned level, the company expects to use 25,000 standard hours of direct labor. Overhead is allocated to products using a predetermined standard rate of 0.625 direct labor hour per unit. At the 80% capacity level, the total budgeted cost includes $50,000 fixed overhead cost and $275,000 variable overhead cost. In the current month, the company incurred $305,000 actual overhead and 22,000 actual labor hours while producing 35,000 units. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance. Do not round your intermediate calculations.)
Answer:
Following are the solution to this question:
Explanation:
Please find the complete question in the attachment file.
Applied to fixed overhead
Overhead fixed by DL hr. [tex]=\frac{50000}{25000}\ \ \ \ \ \ \ \ \ \ \ =2[/tex]
DL hours standard [tex]=35000 \times \frac{25000}{50000 \times 80\%} \ \ \ \ \ \ \ \ \ \ \ \ =21875[/tex]
Application of fixed overhead [tex]= 21875 \times 2.0 \ \ \ \ \ \ \ \ \ \ = 43750[/tex]
Variance in volume
Application of total fixed overhead [tex]= \$43,750[/tex]
Fixed total estimates Superfast [tex]=\$50,000[/tex]
Variance of volume [tex]= \$6,250[/tex]
some jobs offer retirement benefits that you should also consider , along salary and working benefits when deciding on a career path.
Answer:
CAN U ANSWER MY Question
In the month of November, Oriole Company Inc. wrote checks in the amount of $10,410. In December, checks in the amount of $11,075 were written. In November, $8,245 of these checks were presented to the bank for payment, and $10,700 in December. There were no outstanding checks at the beginning of November. What is the amount of outstanding checks at the end of November
Answer: $2165
Explanation:
Based on the information given, the amount of outstanding checks at the end of November will be the difference between the amount of checks written in November and the amount of checks that were presented to the bank for payment. This will be:
= $10,410 - $8245
= $2165
Therefore, the answer is $2165.
Mass Company is investing in a giant crane. It is expected to cost $6 million in initial investment, and it is expected to generate an end-of-year cash flow of $3 million each year for three years. At the end of the fourth year, there will be a $1 million disposal cost. Calculate the MIRR for the project if the cost of capital is 12 percent.
Answer:
17.8%
Explanation:
the formular for MIRR
= [tex]\frac{FVcashinflow}{PVcashoutflow } ^{1/n} -1[/tex]
we solve for the future value =
3(1+0.12)³ + 3(1+0.12)² + 3(1+0.12) =
4.2147 + 3.7632 + 3.36
= 11.3379
we also calculate present value
= [tex]6-[\frac{1}{1+0.12}] ^{4}[/tex]
= 6-0.6355
= 5.3645 million
MIRR = [tex][\frac{11.3379}{5.3645}] ^{1/4}[/tex]-1
= 0.178
= 17.8%
In economics, property usually refers to _______ and ________ over a resource or good. A) legality; rules B) land; no control C) ownership; control D) slavery; no control
Answer:
C) ownership; control
Explanation:
Presented below is information related to equipment owned by Novak Company at December 31, 2020.
Cost $11,250,000
Accumulated depreciation to date 1,250,000
Expected future net cash flows 8,750,000
Fair value 6,000,000
Assume that Novak will continue to use this asset in the future. As of December 31, 2020, the equipment has a remaining useful life of 4 years.
Required:
Prepare the journal entry (if any) to record the impairment of the asset at December 31, 2020.
Answer:
Debit : Impairment loss $1,250,000
Credit : Accumulated impairment loss $1,250,000
Explanation:
Impairment of an asset happens when, the Carrying Amount of an Asset is greater than the Net Realizable Value of an asset.
Carrying Amount is Cost of asset less Accumulated depreciation. Carrying Amount for the equipment is $10,000,000 ($11,250,000 - $1,250,000).
The Net Realizable Value of an asset is the higher of Fair Value of Asset and Future Value. For the equipment the Net Realizable Value is $8,750,000
Then, since Carrying Amount ($10,000,000) > Net Realizable Value ($8,750,000), the equipment is impaired.
Impairment loss will be $1,250,000 ($10,000,000 - $8,750,000).
The journal entry to record the impairment loss would be :
Debit : Impairment loss $1,250,000
Credit : Accumulated impairment loss $1,250,000
Natural gas is often priced in units of dollars per therm. One therm equals 100,000 BTUs . A certain family uses 600 therms of energy to heat its home annually using a natural gas furnace that is 80 percent efficient. The family is considering replacing its current furnace with one that is 96 percent efficient. Assuming the cost of a therm is $0.30.
Required:
What would be the family's annual savings in the cost of home heating?
Answer:
-$28.8.
Explanation:
Note, we were told,
to assume the cost of a therm is $0.30the family uses 600 therms of energy annually.Savings on old furnace:
600 * $0.30 * 0.80 (or written as 80%) = $144Savings on new furnace:
600 * $0.30 * 0.96 (or written as 96%) = $172.8Difference: $144 - $172.8 = -$28.8.
The family's annual savings in the cost of home heating will be (-$28.8).
Here, we are assuming the cost of a therm is $0.30 and that the family uses 600 therms of energy annually.
The savings on the old furnace equals:
= 600 * $0.30 * 0.80
= $144
Hence, the savings on old furnace: is $144.
The savings on new furnace equals:
= 600 * $0.30 * 0.96
= $172.8
Hence, the savings on old furnace is $172.8.
In conclusion, the family's annual savings in the cost of home heating will be (-$28.8).
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