You were asked to answer the following question: Consider a small photography studio with 8 workers and 5 printers. The total cost of labor and capital is $3,300. In order to reduce total operating costs, the owner leases 5 additional printers and fires 5 workers. After these changes, the salary of each worker increases by $30, the cost of using each of the printers (both new and old) remains constant, and the total cost of labor and capital decreases to $2,950. What is the cost of using one printer? The following answer is correct: $199.69 First, calculate the new total quantities of workers and printers after the changes were made. New quantity of workers = 8- 5 = 3 workers %3D New quantity of printers = 5 + 5 = 10 printers %3D Assume that C, is the salary of one worker, and C2 is the cost of using one printer. Using the available information, the following system of equations can be set: = $3,300, 10 x $C2 Correct Answer: $199.69 %3D = $2,950 Return to Certify

You were asked to answer the following question: Consider a small photography studio with 8 workers and 5 printers. The total cost of labor and capital is $3,300. In order to reduce total operating costs, the owner leases 5 additional printers and fires 5 workers. After these changes, the salary of each worker increases by $30, the cost of using each of the printers (both new and old) remains constant, and the total cost of labor and capital decreases to $2,950. What is the cost of using one printer? The following answer is correct: $199.69 First, calculate the new total quantities of workers and printers after the changes were made. New quantity of workers = 8- 5 = 3 workers %3D New quantity of printers = 5 + 5 = 10 printers %3D Assume that C, is the salary of one worker, and C2 is the cost of using one printer. Using the available information, the following system of equations can be set: = $3,300, 10 x $C2 Correct Answer: $199.69 %3D = $2,950 Return to Certify

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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