the answer is by hacking
Timing Technology, Inc. manufactures timing devices. During 20x1, 1,500,000 units were completed and transferred to finished-goods inventory. On December 31, 20x1, there were 320,000 units in work in process. These units were 49 percent complete as to conversion and 100 percent complete as to direct material. Finished-goods inventory consisted of 450,000 units. Materials are added to production at the beginning of the manufacturing process, and overhead is applied to each product at the rate of 100 percent of direct-labor costs. There was no finished-goods inventory on January 1, 20x1. A review of the inventory cost records disclosed the following information:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Required:
Complete the following schedule as of December 31, 20x1, to compute the cost of work-in-process inventory.
Physical Units
Total units to account for 0
Total units to account for 0
Answer:
The cost of work-in-process inventory as of December 31, 20x1 is:
= $368,998.40
Physical units:
For materials = 320,000 units
For conversion = 156,800 units
Explanation:
a) Data and Calculations:
Units Materials Labor
Work in process, January 1, 20x1 310,000 $310,000 $315,400
(84% complete as to conversion)
Units started in production 1,510,000 1,510,000 1,510,000
Direct-material costs $2,966,000
Direct-labor costs $2,998,200
Total costs $3,276,000 $3,313,600
Units started in production 1,510,000 1,510,000 1,510,000
Work in process, December 31, 20x1 320,000 320,000 156,800
Total equivalent units 1,830,000 1,666,800
Costs per equivalent unit $1.79 $1.988
Cost of Ending WIP = $ (320,000 *$1.79 + 156,800*$1.988)
= $57,280 for materials + $311,718.40 for materials
= $368,998.40
b) The weighted average method was used to calculate the equivalent units. With this method, the beginning units of work-in-process are not part of the calculation (only the units started and completed and the ending work-in-process are). However, the costs of the beginning work-in-process form part of the calculation together with the cost of units started and completed during the current period.
Brief Exercise 22-09 Kaspar Industries expects credit sales for January, February, and March to be $211,000, $270,600, and $315,300, respectively. It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month. Compute cash collections from customers for each month.
Answer:
Results are below.
Explanation:
Giving the following information:
Credit sales:
January= $211,000
February= $270,600
March= $315,300
It is expected that 75% of the sales will be collected in the month of sale, and 25% will be collected in the following month.
Cash collection January:
Sales on credit from January= (211,000*0.75)= 158,250
Total cash collection= $158,250
Cash collection February:
Sales on credit from February= (270,600*0.75)= 202,950
Sales on credit from January= (211,000*0.25)= 52,750
Total cash collection= $255,700
Cash collection March:
Sales on credit from March= (315,300*0.75)= 236,475
Sales on credit from February= (270,600*0.25)= 67,650
Total cash collection= $304,125
briefly explain what you consider an entrepreneur to be and describe the three most important attributes you need to develop to become an entrepreneur. Give reasons for your choices.
Answer:
An entrepreneur is a person who finds an economic opportunity in the market, and exploits it for his own benefit and the benefit of his employees and constomers by setting up a firm.
Explanation:
Three characteristic of an entrepreneur:
Opportunity seeking: entrepreneurs "scan" the market, seeking for market niches that have not been exploited.
Work-ethic: entrepreneurship is a difficult task, especially during the first years of the company. It demands very long work hours, and the entrepreneur must be willing to do that in order to be successful.
Risk-taking: entrepreneurs should evaluate risk when taking decisions, but they should not be the most risk-averse indidivuals. They have to take risks in certain situations because otherwise, they would not be able to become entrepreneurs at all.
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31:
Sales $ 1,350,000
Selling price per pair of skis $ 450
Variable selling expense per pair of skis $ 46
Variable administrative expense per pair of skis $ 19
Total fixed selling expense $ 140,000
Total fixed administrative expense $ 115,000
Beginning merchandise inventory $ 75,000
Ending merchandise inventory $ 120,000
Merchandise purchases $ 315,000
1. Prepare a traditional income statement for the quarter ended March 31.
2. Prepare a contribution format income statement for the quarter ended March 31.
3. What was the contribution margin per unit?
(1) The traditional format income statement for Alpine House, Inc for the quarter ended March 31 is shown below:ParticularsAmount ($)Sales1,350,000Less: Cost of Goods Sold:Beginning merchandise inventory 75,000 Add: Merchandise purchases 315,000 Goods available for sale390,000Less: Ending merchandise inventory 120,000 Cost of goods sold270,000Gross Profit1,080,000Less:
Operating Expenses:Variable selling expense46* units soldVariable administrative expense19* units soldTotal Variable Expenses65 Fixed Selling Expenses 140,000Fixed Administrative Expenses115,000Total Operating Expenses255,000Net Operating Income 825,000*Calculation of variable expenses:Variable selling expense per unit= $46Variable administrative expense per unit= $19Total variable expense per unit= $65($46 + $19)
(2) The contribution format income statement for the quarter ended March 31 is shown below:ParticularsAmount ($)Sales1,350,000Less: Variable Expenses:Variable selling expense (46*3,000 units)138,000Variable administrative expense (19*3,000 units)57,000
Total Variable Expenses195,000Contribution Margin1,155,000Less: Fixed Expenses: Fixed selling expenses140,000 Fixed administrative expenses115,000Total Fixed Expenses 255,000Net Operating Income900,000*Calculation of units sold: 3,000 units were sold (Sales/ Selling price per pair of skis = 1,350,000/450 = 3,000 units)
(3) The contribution margin per unit is $195. ($450 - $255) = $195.Contribution margin per unit is calculated as follows:Contribution margin per unit = Selling price per unit - Total variable expenses per unitSelling price per unit = $450Variable expenses per unit = $65 ($46 + $19)Contribution margin per unit = $450 - $65 = $385
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Select the correct answer.
Workers like authoritarian leaders best.
A. True
B. False
Answer:
A
Explanation:
Scottie Barnes has an investment that will pay him $6,400, $6,450, $7,225, and $7,500 over the next four years. If his opportunity cost is 10 percent, what is the future value of the cash flows he will receive
Answer:
Total FV= $34,947.44
Explanation:
Giving the following information:
Cash flows:
1= $6,400
2= $6,450
3= $7,225
4= $7,500
Opportunity cost= 10%
To calculate the future value of the cash flows, we need to use the following formula on each cash flow:
FV= Cf*(1+i)^n
i= opportunity cost
FV1= 6,400*1.1^4= 9,370.24
FV2= 6,450*1.1^3= 8,584.95
FV3= 7,225*1.1^2= 8,742.25
FV4= 7,500*1.1= 8,250
Total FV= $34,947.44
The two common stock ratios are the price–earning (PE) ratio and the
ratio. The latter ratio is used to calculate the PE ratio by dividing the
of equity shares by it.
Answer:
The two common stock ratios are the price–earning (PE) ratio and the earnings per share (EPS) ratio. The latter ratio is used to calculate the PE ratio by dividing the price of equity shares by it.
Explanation:
The Price-earnings ratio measures investors' assessments of an entity's future earnings. It is determined by obtaining the share price of the company's stock and dividing it by the EPS. It is expressed in number of times of the EPS that investors are willing to pay for a share in the company's equity. The earnings per share (EPS) indicates the profit or income which a company generates for each share. It is determined by dividing a company's net profit by the number of outstanding common shares. It is widely used to estimate corporate value.
Answer:market price
Explanation:
In your resume you need to mention the names and contact information of your previous employers under
Answer:
work history
Explanation:
A firm’s accounting cost, defined as actual cash payments for inputs equals:Group of answer choicesthe firm’s implicit cost.the firm’s explicit cost.the firm’s economic cost.the sum of the costs listed above.
Answer:
the firm’s economic cost
Explanation:
The accounting cost of the firm are considered as an explicit cost where the cost is to be incurred for running the business like production cost, lease payment, etc
Also it refers to the actual payment made in cash for the inputs i.e. equivalent to the economic cost of the firm
Hence the second last option is correct
Assume your firm has an unused machine that originally cost $75,000, has a book value of $20,000, and a market value of $25,000. Ignoring taxes, what is the opportunity cost of using this machine
Answer:
$25,000
Explanation:
Opportunity costs is based on market value, not historical costs or original costs. So, the opportunity cost of using this machine is $25,000
is committed to training new employees. assuming the company uses the incremental learning curve method, what is the total labor cost for 4 jobs
Answer:
$19,500
Explanation:
The complete question is: "Each time the Company hires a new employee, it must wait for some period of time before the employee can meet production standards. New employees are paid $150 per hour. Management is unsure of the learning curve in its operation, but it knows the first job by a new employee takes 40 hours and the second and third job take 32 and 28 hours respectively. Assume all jobs to be equal in size. Assuming that the company uses the incremental learning curve method, the total labor cost for 4 units will be closest to?"
The first job takes 40 hours
The next job takes 32 hours.
So, the total hours for first 2 jobs = 40 hours+ 32 hours = 72 hours
Average hours for first 2 jobs = 72 hours / 2 = 36 hours. Learning curve percentage = 36 hours / 40 hours = 0.9 = 90%
So, the average for 4 jobs (double of 2 jobs) shall be 36*90% = 32.40 hours. Hence, Total hours for 4 jobs = 32.40 hours * 4 = 129.60 hours ≅ 130 hours. So, the total labor cost for 4 jobs = 130 hours * $150 per hours = $19,500
What types of firms lend to businesses needing capital or long-term funds?
A) Insurance companies
B) Pension and trust services
C) Commercial finance companies
D) Pension funds
Answer:
c
Explanation:
There are some Companies that lend money and treat loans. The type of firms lend to businesses needing capital or long-term funds is Commercial finance companies.
A financial institution (FI) is known to be a type of company that is involved in the business dealings where financial and monetary transactions such as deposits, loans, investments are made.Commercial finance company is simply known to be a type of finance institution where loans are made available to manufacturers and wholesalers.
Conclusively, this Commercial finance company gives loans that can be paid back in a longer run to people who want to start up business.
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Sonia has $2,400 a month to spend on clothing and food. The price of clothing is $60 and the price of food is $10. The clothing and food pairs in Sonia's choice set include ________ units of clothing and ________ units of food. A) 40; 100 B) 30; 140 C) 20; 120 D) 0; 400
Answer:
C) 20; 120
Explanation:
The computation of the clothing and food pairs is shown below:
Total money spend = $2,400
= $60 × 20 + $10 × $120
= $1,200 + $1,200
= $2,400
if we take 20 units of clothing and 120 units of food so the total moeny spend would be $2,400
Therefore the third option is correct
Manufacturing overhead was estimated to be $380,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $395,000, actual labor hours were 22,300. The predetermined overhead rate per direct labor hour would be:
Answer:
the predetermined overhead rate per direct labor hour would be $19
Explanation:
The computation of the predetermined overhead rate per direct labor is shown below:
Predetermined overhead rate per direct labor is
= (Estimated manufacturing overhead) ÷ (direct labor hour)
= ($380,000) ÷ ($20,000)
= $19
Hence, the predetermined overhead rate per direct labor hour would be $19
who has better abs 1 or 2?
Answer:
1
Explanation:
They just look more... real???
Answer:
Lm.ao what
Explanation:
Ig the second one lol
1. When you played the New York City Budget game, how did this change your opinion on how governments operate cities? What are some of the ways a city can earn revenue?
2. What are the similarities and differences between balancing a city budget and balancing a personal budget?
The explanation for why marginal cost is positive and rising in the short run is ________ marginal product of labor in the production process. A) a zero B) a constant C) an increasing D) a diminishing
Due to an increase in the marginal cost of production for more units than the marginal product of labor is increasing.
What is Marginal production?Marginal production is the additional production of units and additional input of labor over the expected production level. The cost incurred for the marginal production changes in total, but remain constant per unit of production.
There is a direct relationship between the marginal cost of production and the marginal product of labor.
Since the labor is the only variable input for the production and the marginal cost of production is diminishing, this means the cost of producing an additional unit of production is lower.
Thus, the reduction in the marginal cost will increase the marginal product of labor.
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Sheridan Industries produces and sells a cell phone-operated home security control. Information regarding the costs and sales of security controls during May 2020 are provided below.
Unit selling price of security control $45
Unit variable costs $22
Total monthly fixed costs $120,000
Units sold 8,000
Required:
Prepare a CVP income statement for Cedar Grove Industries for the month of May. Provide per unit values and total values.
Answer and Explanation:
The preparation of the CVP income statement for Cedar Grove Industries for the month of May is presented below;
Particulars Units Amount
net sales $45 $360,000 (8,000 units × $45)
Less:
Variable expense $22 -$176,000 (8,000 units × $22)
Contribution margin $23 $184,000
Less:
Fixed cost -$120,000
Net income $64,000
Which of Kant's basic human rights is violated when a supervisor requires an employee to do something that is unsafe or environmentally damaging, in spite of the employee clearly objecting to the order
Answer: freedom of conscience
Explanation:
Kant's basic human rights that is violated when a supervisor requires an employee to do something that is unsafe despite the fact that he objected us referred to as freedom of conscience.
Freedom of conscience is also referred to as the freedom of thought and it simply means that an individual has the freedom to have their own thoughts and be able to consider a fact irrespective of the viewpoint of others.
In general, a capital-abundant country (such as the United States) tends to specialize in capital-intensive industry and export capital-intensive products, and import labor-intensive products. This statement is an illustration of the ____________________ of comparative advantage.
Answer:
Law
Explanation:
According to the law of comparative advantage, a country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 20kg of beans and 10kg of rice. Country B produces 10kg of beans and 20kg of rice.
for country A,
opportunity cost of producing beans = 10/20 = 0.5
opportunity cost of producing rice = 20/10 = 2
for country B,
opportunity cost of producing rice = 10/20 = 0.5
opportunity cost of producing beans = 20/10 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
One of the toughest problems in investigating systems requirements is ensuring that they are complete and comprehensive. Imagine that you are a systems analyst. Decide the primary way in which you would ensure that you secure the necessary information during an interview session with a client. Devise a plan for accommodating conflicting responses for the same procedure from two different people you interviewe
Answer:
A) One of the most professional ways of acquiring information from a client during an interview is to approach the exercise in a semi-structured manner.
B) In order to accommodate conflicting responses from the same procedure from two different people, it is important to seek to understand what their interests are.
Explanation:
A) Semi-structured questions allow flexibility. Though the business analyst comes to the table with a set of pre-determined questions, they must be prepared to go outside of that list in order to get to the root of the problem which the clients needs to solve.
Another job of the analyst is to see beyond the immediate needs of the client and communicate to them, based on the information they provided any other problem that needs to be catered to.
Recording all information provided by the respondent is mission-critical.
B) Clarity of interests helps the analyst to determine what approach is best for accomodating both responses.
Cheers
You know that one of your shortcomings is that you have no real job experience to speak of. You are considering beefing up your resume by exaggerating the extent of the class project you worked on for a few weeks at your brother-in-law’s small consulting firm. You could reword the resume to make it sound as if you were actually employed there and that your responsibilities were greater than they actually were. What would you do?
Answer:
Obviously, I will not reword the resume in order make it sound as if I was employed.
Explanation:
Solution:
Obviously, I will not reword the resume in order make it sound as if I was employed.
Because:
1. It is ethically wrong.
2. If I reword the resume, then obviously, I would present fake certificates to the company in order to prove the rewording or exaggerating presenting in the resume.
3. Fake documents and certificates can not be hidden for long.
4. It is really dangerous and illegal to present fake data and certificates. You can get a job on those fake profiles but after some time, chances are very high that you will be caught red handed. And consequently, you can face severe legal proceedings as well.
Hence, I will definitely not exaggerate or reword the resume. Better way is to get an internship experience for free and then provide real certificates to secure a job.
For each situation, prepare the appropriate journal entry for the redemption of the bonds.
a. Flounder Corp. redeemed $124,000 face value, 10% bonds on April 30, 2022, at 105. The carrying value of the bonds at the redemption date was $111,972. The bonds pay annual interest, and the interest payment due on April 30, 2022, has been made and recorded. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
b. Shamrock, Inc. redeemed $162,000 face value, 12.5% bonds on June 30, 2022, at 99. The carrying value of the bonds at the redemption date was $174,960. The bonds pay annual interest, and the interest payment due on June 30, 2022, has been made and recorded.
Answer and Explanation:
The journal entries are given below:
On Apr. 30
Bonds payable $124,000
Loss on redemption of bonds( bal fig) $18,228
Discount on Bonds payable($124,000 - $111,972) $12,028
Cash ($124,000 × 1.05) 1,30,200
(Being redemption of bonds at 105 is recorded)
On Jun. 30
Bonds payable $162,000
Premium on Bonds payable($174,960 - $162,000) $12,960
Gain on redemption of bonds ( bal fig) $14,580
Cash($162,000 × .99) $160,380
(Being redemption of bonds at 98 is recorded)
13
Charlie is summoned for jury duty. While still in the selection process, it is discovered
Which of the following would most likely happen?
O Charlie would be excluded for cause.
Charlie would be preserved on the jury since he would have inside i
Charlie can refuse to serve on the jury.
Charlie would be excluded through preemptory challenge.
14
Casey is on trial under criminal allegations that she engaged in fraudulent behavior
nombioLUS Droof that Casey is guilty. Which of the follow
-בין ה
Hilola.
Answer:
13. Charlie would be excluded for cause;
14. the plaintiff provides proof only up to the level of “clear and convincing,” Casey can still be acquitted.
Explanation:
Since it was realised that Charlie has a relationship with on of the parties summoned for a case, this will lead to Charlie been removed and excluded for cause. This is because it is believed that due to the fact that he has a relationship with the person, there may be bias which may lead to a false outcome regarding the case.
For the second question, Cash can be acquitted if there's proof which is provided by the plaintiff and the proof is clear enough and convincing.
For insight into a government agency's understanding of the laws it administers, one should consult:
Answer:
The agency's interpretive rules.
Explanation:
An interpretive rule can be defined as a document issued by an agency so as to help expound or clarify existing administrative laws, regulations and statutes in the public domain.
Basically, an interpretive rule is not required to meet the minimum requirements or criteria specified by the Administrative Procedure Act (APA). Also, an interpretive rule is not considered as a force of law because it is not binding on the general public.
Hence, for insight into a government agency's understanding of the laws it administers, one should consult the agency's interpretive rules for an explanation on the law and regulations it promulgated,
This year, Johnson Mills has annual revenue of $37,800, cost of goods sold of $23,200, and administrative expenses of $6,300. The firm paid $700 in dividends, $280 in interest, and has a total tax rate of 21 percent. The firm will add $2,810 to retained earnings. What is the depreciation expense?
Answer:
$3,857
Explanation:
From the above, we do know that;
Revenue - Expenses = Net income
But
Expenses = Revenue - Cost of goods sold - Admin expenses - Depreciation expenses
Also,
Net income tax = Income before taxes × ( 1 - tax rate)
Since we do not know Net income taxes,
Net income - Dividends = Change in retain earnings
Net income = $2,810 + $700
= $3,510
Income before taxes = $3,510 / 0.79
= $4,443
$37,800 - $23,200 - $6,300 - Depreciation expenses = $4,443
Therefore,
Depreciation expenses = $3,857
Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $7,500 alimony paid?
d. How much income does Cecile have from the $7,500 alimony received?
e. When Cecile sells the stock, how much does she report?
Answer:
a. No gain or loss will be recognized by either party.
b. $0 gain or loss will be recognized by Casper on the transfer.
c. Yes, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. The amount of income is the $45,000 alimony received from Casper during the year.
e. Cecile will report a capital gains of $72,000.
Explanation:
Note: This question has some errors. The correct question is therefore provided before answering the question as follows:
Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $45,000 alimony paid?
d. How much income does Cecile have from the $45,000 alimony received?
e. When Cecile sells the stock, how much does she report?
The explanation of the answers are now given as folllows:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
Casper who is the party that is making the transfer will enjoy a deduction for the property he transferred as he is nt entitled to the deduction. In addition, no gain or loss will be recognized by Casper o the transfer.
Cecila who us the party that receives the property will also not recognize income. She will include the property received on cost basis equal to basis of the Casper who is the party that the transfer.
b. How much gain or loss does Casper recognize on the transfer of the stock?
$0 gain or loss will be recognized by Casper on the transfer.
The reason for this is that anything that is paid under alimony that is not cash is not taxable. Since what Casper transferred is not cash, $0 will be recognized.
c. Does Casper receive a deduction for the $45,000 alimony paid?
The total alimony made by Casper during the year is calculated as follows:
Total alimony paid = Alimony amount * Number of payments during the year = $9,000 * 5 = $45,000
Therefore, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. How much income does Cecile have from the $45,000 alimony received?
The amount of income is the $45,000 alimony received from Casper during the year. And this will be included in her gross income.
e. When Cecile sells the stock, how much does she report?
The amount she will report as capital gain can be calculated as follows:
Capital gains = Revenue from the sales of the stock by Cecile - Purchase price paid by Casper = $252,000 - $180,000 = $72,000
Therefore, Cecile will report a capital gains of $72,000.
What is a marginal tax rate?
the actual percentage of federal tax paid
the highest percentage of federal tax paid
the lowest percentage of federal tax paid
the rate difference between joint and single filers
Answer:
the highest percentage of federal tax paid
Explanation:
The marginal tax rate implies the highest tax rate applicable in a progressive tax system. It is the tax rate imposed on extra income. In a progressive tax system like the one used in the US, the tax rate rises as income increases. The marginal tax rate is the increased tax rate paid on the extra dollar earned.
The marginal tax rate is, therefore, the highest percentage of federal tax paid.
Assume that at the beginning of the year, Firm B divested itself of $20,000 of unproductive capital and earnings for the year fell by only $3,000. Abnormal earnings are:
Answer:
The correct response will be "$600".
Explanation:
The given problem is incomplete. Please find attachment of the complete query.
The given values are:
Normal earning,
= 11000
Rate of interest,
r = 8%
Now,
The abnormal earning will be:
= [tex]Normal \ earning-Net \ income[/tex]
= [tex]11000-((150000-20000)\times 8 \ percent)[/tex]
= [tex]11000-((130000)\times 8 \ percent)[/tex]
= [tex]600[/tex] ($)
A company estimates that 0.7% of their products will fail after the original warranty period but within 2 years of the purchase, with a replacement cost of $150. If they offer a 2 year extended warranty for $12, what is the company's expected value of each warranty sold
Answer:
$10.97
Explanation:
Calculation for what is the company's expected value of each warranty sold
First step is to calculate the outcome
Outcome=$150-$12
Outcome=138
Second step is to calculate the outcome probability
Outcome probability=1-0.007
Outcome probability=0.993 and 0.007 respectively
Now let calculate the company's expected value of each warranty sold
Expected value of each warranty sold=$12*0.993+(-$138)*0.007
Expected value of each warranty sold=$10.97
Therefore Expected value of each warranty sold is $10.97