A Manufacturer Produces Two Products,A and B

question 80

Short Answer

A manufacturer produces two products,A and B.For each unit of A sold the profit is $8.For each unit of B sold the profit is $11.From past experience it has been found that 25 percent more of A can be sold than of B.Next year the manufacturer desires a total profit of $42,000.How many units of each product must be sold?

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Definitions:

Adjusting Entries

Entries recorded in the journals at the close of an accounting period to distribute income and expenditures to the period they actually took place.

Bank Reconciliation

Bank reconciliation is the process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.

NSF Check

A check that is not honored by a bank due to insufficient funds in the account of the person who wrote it; also known as a bounced check.

Bank Service Charge

Fees charged by banks for various services such as account maintenance, transactions, or overdrafts.