Author Question: Refer to Scenario 9.2 below to answer the question(s) that follow. SCENARIO 9.2: Tom borrowed ... (Read 179 times)

jeatrice · **on:** Apr 19, 2019

Question 1

Refer to Scenario 9.2 below to answer the question(s) that follow.

SCENARIO 9.2: Tom borrowed $40,000 from his parents to open a donut stand. He agrees to pay his parents a 5% yearly return on the money they lent him. His other yearly fixed costs equal $10,000. His variable costs equal $25,000. He sold 40,000 dozen donuts during the year at a price of $2.00 per dozen.

Refer to Scenario 9.2. Tom's total revenue was

◦ $30,000.
◦ $40,000.
◦ $45,000.
◦ $80,000.

Question 2

Refer to Scenario 9.2 below to answer the question(s) that follow.

SCENARIO 9.2: Tom borrowed $40,000 from his parents to open a donut stand. He agrees to pay his parents a 5% yearly return on the money they lent him. His other yearly fixed costs equal $10,000. His variable costs equal $25,000. He sold 40,000 dozen donuts during the year at a price of $2.00 per dozen.

Refer to Scenario 9.2. Tom's profit is

◦ $0.
◦ $26,000.
◦ $30,000.
◦ $43,000.

jointhecircus · **Reply #1 on:** Apr 19, 2019

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