You own an apartment building with 25 rental units renting at current market rate for $2500 a month each . Annual fixed costs for property tax , mortgage , insurance , and maintenance is $ 400,000 . Plus you have variable costs averaging $500/month per unit 1/ What is your total revenue ? 2/ What are your total costs ? 3/ What is your annual profit

You own an apartment building with 25 rental units renting at current market rate for $2500 a month each . Annual fixed costs for property tax , mortgage , insurance , and maintenance is $ 400,000 . Plus you have variable costs averaging $500/month per unit 1/ What is your total revenue ? 2/ What are your total costs ? 3/ What is your annual profit

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Labor (mechanics) 0 1 2 3 4 Output (bikes) Jan's total cost of producing 60 bikes is $ 0 20 50 60 64 Total fixed costs (dollars) 140 Total variable cost (dollars) 120 Total cost (dollars) The table above gives costs at Jan's Bike Shop. While Jan is a bike enthusiast, unfortunately, Jan's record keeping has been spotty. Each mechanic is paid $120 a day and labor costs are the only variable costs of production. What is the total cost of producing 60 bikes?
Express the relationships among revenue, cost, profit, and volume?
5. El Sol Inc. produces beach towels. The cost of each towel is $ 4.00 and it sells for $ 10.00 after the markup on its cost. Similar towels sell for $ 8.00. How much should each towel cost you to be able to adjust to the market price and keep your profit margin?
in the month of Janaury a car dealership bought its vehicles for $100.000 and sold them for $145,000 It pays its employees $20,000 for the month. What is the gross profit for January? Ⓒ$45.000 Ⓒ$25.000 $100.000 $145.000
10. Chef Company makes and sells pre-packed lunches. The variable cost of each lunch is $4. The lunches are sold for $10 each. Fixed operating expenses amount to $6,000. Using the space below, prepare a break-even graph. Indicate the following on the graph: (a) fixed cost, (b) total cost, (c) total revenue, (d) loss, (e) breakeven point, and (f) profit area. I Q
3. What is the rate of return that includes the minimum profit as an expense?
ork (5.3) Part 1 of 3 A manufacturing company makes two types of water skis, a trick ski and a slalom ski. The relevant manufacturing data are given in the table. Labor Hours per Ski Maximum Labor-Hours Available per Day 120 25 Department Fabricating Finishing Answer parts (A), (B), and (C) below Trick Ski 5 1 Slalom Ski 4 1 CITT (A) If the profit on a trick ski is $50 and the profit on a slalom ski is $60, how many of each type of ski should be manufactured each day to realize a maximum profit? Wh is the maximum profit? The maximum profit is $ The maximum occurs when trick skis and slalom skis are produced. 4
8.1 The fixed costs at Harley Motors are $1M annually. The main product has revenue of $9.90 per unit and $4.50 variable cost. This question is in three parts. Part 2: What is the annual profit (or loss) if 150,000 units are sold? (if a profit, use a positive number and if a loss, use a negative number; do not use commas or $ signs in your answer)
Have a look at the graph below and select the correct answer. Price and cost per unit £5 £4 £3 £2 £1 16 MR 32 The firm is making supernormal profit. The firm is maximising cost The firm is making a loss. MC 48 Demand 64 The firm is breaking even/ making normal profit. ATC AVC Quantity (000s)
None
ЕОС 13.5B Morgan took $400 000 out of their savings account to start an ice cream stand. The savings account paid 5% interest. In the first year, Morgan sold 12,000 batches of ice cream at a price of $3 each, and incurred costs of $12,000 which involved outlays of money. What was Morgan's economic profit in the first year?
2. Find the volumes over which each site for making a product is the lowest cost. Site Fixed Variable 1 20,000 18 2 10,000 32,000 23 166 4. 35,000 20 a) What is the highest volume where site 2 is the lowest cost? b) What is the lowest volume where site 3 is the lowest cost?