Problem 11-5 (Algo)Next week, Super Discount Airlines has a flight from New York to Los Angeles that will be booked to capacity. The airline knows fromhistory that an average of 20 customers (with a standard deviation of 10) cancel their reservation or do not show for the flight. Revenuefrom a ticket on the flight is $100. If the flight is overbooked, the airline has a policy of getting the customer on the next available flightand giving the person a free round-trip ticket on a future flight. The cost of this free round-trip ticket averages $210. Super Discountconsiders the cost of flying the plane from New York to Los Angeles a sunk cost.By how many seats should Super Discount overbook the flight?Note: Use Excel's NORM.S.INV() function to find the z value. Round z value to 2 decimal places. Round your answer to the nearestwhole number.Overbook by16

Step 1:Given that, Cost of underestimating the demand (Cu) = $100 Cost of overestimating the demand…

Answered: Problem 11-5 (Algo) Next week, Super…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter11: Accounting For Purchases And Cash Payments

Section: Chapter Questions

Problem 1EC

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Next week, Super Discount Airlines has a flight from New York to Los Angeles that will be booked to capacity. The airline knows from past history that an average of 25 customers (with a standard deviation of 15) cancel their reservation or do not show for the flight. Revenue from a ticket on the flight is $125. If the flight is overbooked, the airline has a policy of getting the customer on the next available flight and giving the person a free round-trip ticket on a future flight. The cost of this free round-tripticket averages $250. Super Discount considers the cost of flying the plane from New York to Los Angeles at a sunk cost. By how many seats should Super Discount overbook the flight?
Problem 11-10 (Algo) You are a newsvendor selling the San Pedro Times every morning. Before you get to work, you go to the printer and buy the day's paper for $0.40 a copy. You sell a copy of the San Pedro Times for $1.30. Daily demand is distributed normally with mean = 325 and standard deviation = 65. At the end of each morning, any leftover copies are worthless and they go to a recycle bin. a. How many copies of the San Pedro Times should you buy each morning? Note: Use Excel's NORM.S.INV() function to find the z value. Round your z value and service level to 2 decimal places and final answer to the nearest whole number. Optimal order quantity b. Based on a, what is the probability that you will run out of stock? Note: Round your answer to the nearest whole percent. Probability %
Problem #1. You have a Visa credit card account with a 26.49% annual percentage rate calculated on the average daily balance. The billing date is the first day of each month, and the billing cycle is the number of days in that month. Your credit card balance on April 1 was $552. On April 10th you made a $119 purchase. You made another purchase, a $25 gift card, on April 24th. You made a $150 payment on April 29th. Show your work for all parts of the problem. (a) What is the average daily balance for April? (b) What is your finance charge on the account as of May 1st? (c) What is your new credit card balance?
Problem #1. You have a Visa credit card account with a 20.98% annual percentage rate calculated on the average daily balance. The billing date is the first day of each month, and the billing cycle is the number of days in that month. Your credit card balance on June 1 was $316. On June 9th you made a $125 purchase. You made another purchase, a $50 gift card, on June 25th. You made a $175 payment on June 28th. (a) What is the average daily balance for June? (b) What is your finance charge on the account as of July 1st? (c) What is your new credit card balance? Work MUST be shown
Word Problem 14-15 (Algo) [LU 14-2 (1)] From the following facts, Molly Roe has requested you to calculate the average daily balance. The customer believes the average daily balance should be $877.67. Respond to the customer's concern. Note: Round your final answer to the nearest cent. 28-day billing cycle 3/18 3/24 Billing date $ 664 Previous balance Payment $ 60 Credit 3/29 Charge: Sears 250 4/5 Payment 19 Credit 4/9 Charge: Macy's 160 Average daily balance
An invoice for $589 is dated June 19, discount 4/20. Shipping charges are FOB shipping point for the cost of $23.75. If the buyer does not want to avail of the discount, when is the last day that he can pay? Group of answer choices July 29 August 26 June 9 June 27
13. For the credit card account, assume one month between billing dates (with the appropriate number of days) and interest of 1.4% per month on the average daily balance. Find (a) the average daily balance, (b) the monthly finance charge, and (c) the account balance for the next billing. Previous Balance: $449.50 January 13 Billing Date January 15 Returns January 22 Clothes January 27 Bus tickets February 2 Payment February 6 Flowers $105.58 $122.54 $77.74 $120 $65.22 (a) The average daily balance is $ (Round to the nearest cent as needed.). (b) The finance charge is $ (Round to the nearest cent as needed.) (c) The account balance for the next billing is $ (Round to the nearest cent as needed.) C O a IS ry ry av to
help me
The activity on Monique Ramirez’ Visa account for one billing period is shown below. Find the average daily balance and the finance charge if the billing period is November 11 through December 10, the previous balance was $642.38, and the annual interest rate is 20%.November 15 November 28 December 1payment office supplies toy store$150 $23.82 $312.58
TB 03-58 The Fastbank Motorcycle Company (FMC) receiv.. The Fastbank Motorcycle Company (FMC) receives a $10 million order from dealers wanting to buy its most popular model on credit. No money changes hands. Due balance sheet? excess demand, FMC cannot supply the motorcycles until next quarter. How will these events affect the Multiple Choice Both Accounts Receivable and Shareholders' Equity will increase by $10 million this quarter. Accounts Receivable will increase by $10 million this quarter and Inventories will decrease next quarter. Both Accounts Receivable and Accounts Payable will increase by $10 million this quarter. These events will not impact the balance sheet this quarter.
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This question is for business math. Complete the following (If more than one discount, assume date of last discount) (Assuming February will have 28 days.) Invoice: Terms: Last day of discount period: August 10th 2/10, 1/30, n/60 Final day bill is due: I need the last day of discount period and the final day the bill is due but I dont know how to figure it out. Please explain this to me. I also dont know where the n/60 comes from, can you explain that when you explain how to do the problem?

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