Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bill has just returned from a duck hunting trip. He brought home eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill

image text in transcribed
image text in transcribed
image text in transcribed
Bill has just returned from a duck hunting trip. He brought home eight ducks. Bill's friend, John, disapproves of duck hunting, and to discourage Bill from further hunting, John presented him with the following cost estimate per duck: $ 107 Camper and equipment: Cout, $12,000; usable for eight seasons; 14 hunting trips per season Travel expense (pickup truck): 100 miles at $0.40 per mile (gas, oil, and tires-$0.26 per mile; depreciation and insurance-$0.14 per mile) Shotgun shells (two boxes per hunting trip) Boat: Cost, $2,480, usable for eight seasons; 14 hunting trips per season Hunting license: Cost, $70 for the season; 14 hunting trips per season Money lost playing poker: Loss, $32 (Bill plays poker every weekend whether he goes hunting or stays at home) Bottle of whiskey: Cost, $20 per hunting trip (used to ward off the cold) Total cost Cost per duck ($246 + 8 ducks) Required: 1. Assuming the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season? 2. Suppose Bill gets lucky on his next hunting trip and shoots 14 ducks using the same amount of shotgun shells he used on his previous hunting trip to bag 8 ducks. How much would it have cost him to shoot the last six ducks? Required 1 Required 2 Assuming the duck hunting trip Bill has just completed is typical, what costs are relevant to a decision as to whether Bill should go duck hunting again this season? 40 x Travel expense Shotgun shells One bottle of whiskey Total $ 80 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Suppose Bill gets lucky on his next hunting trip and shoots 14 ducks using the same amount of shotgun shells he used on his previous hunting trip to bag 8 ducks. How much would it have cost him to shoot the last six ducks? Cost of last two ducks

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Internet Fraud Casebook

Authors: Joseph T. Wells

1st Edition

0470643633, 9780470643631

More Books

Students also viewed these Accounting questions

Question

Explain all drawbacks of the application procedure.

Answered: 1 week ago

Question

Determine Leading or Lagging Power Factor in Python.

Answered: 1 week ago