You Are Mixing Two Kinds of Hard Candy: Mints That

question 137

Essay

You are mixing two kinds of hard candy: mints that cost $6 per pound and chocolate drops that cost $5 per pound. You need exactly 45 pounds of candy total and your candy budget is $249.80. Let m be the pounds of mints and let c be the pounds of chocolate.

Set up a system of equations described in this problem. Solve the system by the method of substitution. Interpret your solution.

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Definitions:

Job Order Cost System

A job order cost system is an accounting method that tracks costs and revenues by specific jobs and assigns costs to products based on the jobs.

Job Order Costing System

An accounting system used to accumulate costs associated with a specific batch or order of production, suitable for businesses producing custom or unique products.

Service Firms

Companies that provide intangible products or services to customers, rather than physical goods.

Predetermined Overhead Rate

An estimated charge per unit of activity used to allocate manufacturing overhead costs to products or job orders, based on a set formula.