Answer:Egosim
Explanation:
Egosim
Surist, Inc. purchased merchandise for $300,000, received credit for purchase returns of $20,000, availed purchase discounts of $5,000, and paid transportation in of $12,000. Refer to Surist, Inc. If Surist, Inc. had $30,000 in beginning inventory, and sold goods costing $180,000, what is the ending inventory balance?
Answer:
Ending inventory balance........................$497,000
Explanation:
If Surist, Inc. purchased merchandise for $300,000, and received credit for purchase returns of $20,000, and was availed purchase discounts of $5,000, and paid transportation in of $12,000. If Surist, Inc. had $30,000 in beginning inventory, and sold goods costing $180,000, Then the ending inventory balance can be derived as:
Beginning inventory....................................$30,000
Add: Purchases of merchandise ......... $300,000,
Less: Purchase returns of ........................($20,000)
Less: Purchase discounts of .....................($5,000)
Add: Paid transportation of .......................$12,000.
Less: Cost of Goods Sold....................... ($180,000)
Ending inventory balance........................$497,000
The ending inventory balance for Surist, Inc. is calculated by determining the goods available for sale ($317,000) and subtracting the cost of goods sold ($180,000), resulting in an ending inventory of $137,000.
To calculate the ending inventory balance for Surist, Inc., we must first determine the cost of goods available for sale, then subtract the cost of goods sold (COGS). Here is how you calculate it:
Beginning Inventory: $30,000
Add: Purchases: $300,000
Less: Purchase Returns: $20,000
Less: Purchase Discounts: $5,000
Add: Transportation In: $12,000
Equals: Goods Available for Sale: $317,000
Less: Cost of Goods Sold: $180,000
Equals: Ending Inventory: $137,000
So, the ending inventory for Surist, Inc. is $137,000.
On October 1, the accounts receivable account balance was $115,020. During October, $449,350 was collected from customers on account. Assuming the October 31 balance was $130,050 determine the fees billed to customers on account during October.
Answer:
$464,380
Explanation:
The fees billed to customer during the month of the October can be determined using the following formula:
Fees billed to customer=Closing balance of accounts receivables+amount collected from customers-opening balance of accounts receivables
In this question:
closing balance of accounts receivables=$130,050
amount collected from customers=$449,350
opening balance of accounts receivables= $115,020
Fees billed to customers=$130,050+$449,350-$115,020=$464,380
Revenue accounts are used to record:______
a. earnings from operations all cash receipts
b. cash received from customer payments
c. made on account payments
d. made for purchases
Answer: Earnings from operations all cash receipt.
Explanation:
Revenue account is an accounting record where all cash received by a business establishment is recorded. It comprises of cash received from sales of products and other forms of income a company receives within a period.
Bea’s Donuts requires that all people working in her store wear a light blue polo shirt showing the logo of her company. Requiring this shirt is part of what aspect of marketing?
Answer: The aspect of marketing is PACKAGING.
Explanation:
Packaging is a marketing tool useful in attracting customers and incorporating value for a business.
Different companies constantly look for ways to distinguish their businesses. One of such ways is the use of polo shirts with the company's logo on it. It gives a good sign on the value of the business.
Promotion of business and selling of services and commodities to the consumers or the buyers is called marketing.
The correct answer is:
Option B. Packaging
The explanation for this is:
Promotion and display of the product make it marketable to the viewers.
It is a useful method to attract buyers. It incorporates value for the business.
Different organizations can use different methods to promote their brands.
Using polo shirt with the brand logo can help in companies product promotion.
Therefore, packaging can be used as an aspect of marketing.
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Suppose you had $100 in a savings account and the interest rate was 2 percent per year. After 5 years, how much do you think you would have in the account if you left the money to grow?A. More than $102B. Exactly $102C. Less than $102
Answer:
A. More than $102
Explanation:
Given the Principal amount, P = $100
interest rate, r was 2 percent per year= 2/100
n = 1 = the interest is calculated yearly
After time, t of 5 years, the Principal will have increase to?
using the formula for compound interest:
Compound interest for 5 years = P (1+ r/n)^nt
= $100 (1+ (0.02/1))^ (1*5)
= $100 (1.02)^5
= $100* 1.104 = $110.41
After time, t of 5 years, the Principal will have increase to $110.41 which is more than $102
If you had $100 in a savings account with a 2% annual interest rate, the amount of money in your account would be more than $102 after 5 years due to compound interest.
Explanation:If you had $100 in a savings account with a 2% annual interest rate, it would grow over time due to compound interest. Compound interest means that the interest you earn each year is added to your principal, and then the next year's interest is calculated based on the new total. After 5 years, the amount of money in your account would be more than $102 because the interest earned in each year would be added to the previous amount.
Which of the following is not true of a service. (Please select the best answer.) Select one:
a. A service must be a tangable good.
b. A service is an intangible process that cannot be weighed or measured, whereas a good is a tangible output of a process that has physical dimensions.
c. A service requires some degree of interaction with the customer for it to be a service.
d. The specifications of a service are defined and evaluated as a package of features that affect the five senses
e. Services as a process are perishable and time dependent, and unlike goods, they can't be stored. You cannot "come back last week" for an air flight or a day on campus.
Answer:
Letter a. A service must be a tangable good.
Explanation:
Services can be defined as a product of human activity whose objective is to satisfy a need. A service cannot be a material good, to identify a service four main characteristics must be considered:
1- Intangibility: Services are not tangible. That is, they cannot be touched, seen, tasted. They are ideas and concepts. The consumer is influenced to choose a service by the reputation of the service.
2- Inseparability: Services are created and consumed simultaneously. One of its characteristics is the customer's presence in the development of the service, which causes immediate satisfaction or dissatisfaction.
3-Variability: The service will not always be the same when running more than once. It can be caused by outsourcing services and cause problems to maintain the quality and satisfaction perceived by customers.
4-Perishable: Services must be consumed immediately, or they will be lost. It cannot be stored.
A barbecue sauce producer sells their product in a 20-ounce bottle. Their historical process mean has been 20 ounces with a standard deviation of 0.25 ounces. If their tolerance limits are set at 20 ounces plus or minus 1 ounce, what is the process capability ratio of the bottle filling process?
Answer:
1.33
Explanation:
Data provided in the question:
Mean = 20
Tolerance limit = 20 ± 1
Standard deviation, s = 0.25 ounces
Now,
Upper specification limit, USL = 20 + 1 = 21
Lower specification limit, LSL = 20 - 1 = 19
also,
capability ratio = [tex]\frac{USL-LSL}{6s}[/tex]
Thus,
Capability ratio = [tex]\frac{21-19}{6\times0.25}[/tex]
or
Capability ratio = [tex]\frac{2}{1.5}[/tex]
or
Capability ratio = 1.33
Final answer:
The process capability ratio for the BBQ sauce bottle filling process, with a specification range of ±1 ounce and a standard deviation of 0.25 ounces, is approximately 1.33, indicating a capable process.
Explanation:
The process capability ratio (Cp) is a measure of how well a process can meet its specification limits. It is defined as the ratio of the specification range to the process variation, where the specification range is the difference between the upper and lower specification limits, and the process variation is generally 6 times the standard deviation (σ) assuming a normal distribution.
In this case, the upper tolerance limit is 21 ounces (20 + 1), and the lower tolerance limit is 19 ounces (20 - 1), which means the total tolerance range is 2 ounces (21 - 19). With a standard deviation of 0.25 ounces, the process variation is 6×0.25 = 1.5 ounces. Hence, the process capability ratio (Cp) is calculated as the tolerance range divided by the process variation: Cp = 2 / 1.5 ≈ 1.33.
Therefore, the process capability ratio for the barbecue sauce bottle filling process is approximately 1.33, indicating that the process is capable of producing within the specification limits provided.
Ryan is working with his marketing team to set goals and create a budget for the upcoming year. Which marketing function is Ryan performing?
Answer:
Product/service management.
Explanation:
Product/ service management is the process of planning the development of new product or a new business, of setting goals related to attaining productivity in the product life cycle and also manage the budget accordingly. Thus, here Ryan is performing product/ service management with his marketing team.
Ryan is carrying out the marketing management function. This includes strategic planning, goal setting, budget creation, and monitoring the implementation of the marketing plan.
Explanation:Ryan is performing the marketing management function. This is a process that involves marketing strategy planning, as well as setting goals, creating budgets, and implementing and controlling the marketing plan. The management team is responsible for setting the direction and strategy, and for prioritising marketing activities, to ensure they align with the organisation’s objectives and budgetary provisions. This process includes defining roles, setting targets, monitoring progress, and making adjustments as needed to achieve the set objectives.
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The Republic of South Africa exports edible fruits and nuts into the common market known as the European Union, and imports from the European Union other products which South Africa could produce but at a higher cost than what it costs the Europeans to produce. This practice follows the premise of _________________.
A) The Theory of Malthus
B) The Theory of Competitive Positioning
C) The Theory of Comparative Advantage
D) The Theory of Absolute Advantage
Answer:
C) The theory of Comparative Advantage
Explanation:
The theory of Comparative Advantage is a theory of international trade and it comes into effect in a situation where the opportunity cost of producing a good or offering by a service by a country is lower than that of other countries.
Specifically, to understand the theory of comparative advantage the opportunity cost of production or offering a service has to be measured in terms of the trade off between those countries. It simply means when a country has the comparative advantage then it derives more benefits from other countries buying its products as compared to buying their products and vice versa.
In the question, the European Union has the Comparative advantage over South Africa because the trade-off between buying South Africa's edible fruits and nuts and selling other products to South Africa benefits the European countries.
European countries derive more benefits because South Africa buys their goods at a cost higher than it takes them to produce while they buy at the normal cost from South Africa. The trade-off benefits Europe
True / False.Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.
Answer:
True
Explanation:
Structural similarities exist when the underlying mechanisms of the technology resemble, or match, the underlying mechanisms of the market.
A company's strategy is shaped by Multiple Choice
1. management analysis and choice in part, as well as by the necessity of adapting.
2. its core values, mission, and strategic vision.
3. its resources, capabilities, competitiveness, and market position.
Answer:
1. management analysis and choice in part, as well as by the necessity of adapting
Explanation:
Strategy refers to a formulated future plan which specifies the manner in which an organization shall progress and the course it is going to adopt with respect to it's operations, so as to attain it's goals and objectives.
A Company's strategy is an outcome of management analysis of past trends and record as well as the current business environment in which it operates.
Choice refers to decision making ability of the management which relates to making strategic important decisions and making the most of the opportunities.
Adaptation refers to the nature of business environment which is dynamic in nature strategies and policies need to be framed in the alignment of the environment.
To conclude, a company's strategy is shaped by 1. management analysis and choice in part, as well as by the necessity of adapting.
A company's strategy is shaped by management decisions, adherence to its core values, and an understanding of its resources and competitiveness. It also requires insights into the market structure and a focus on core competencies to succeed.
Explanation:A company's strategy is influenced by multiple factors, including management analysis and decision-making, as well as external factors like the need to adapt to changing conditions. The strategy development process considers a company's core values, mission, and strategic vision, alongside tangible elements such as its resources, capabilities, competitiveness, and market position. An integral aspect of this process involves understanding the market structure, which is a multidimensional concept that determines how competitive an industry is. A key strategy for many successful businesses is focusing on their core competencies, which refers to concentrating on a select few products or services where they have the most expertise and can deliver the highest value.
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Suppose Hank and Tony can both produce corn. If Hank's opportunity cost of producing a bushel of corn is 2 bushels of soybeans and Tony's opportunity cost of producing a bushel of corn is 3 bushels of soybeans, then Hank has the comparative advantage in the production of corn.
a. True.
b. False.
Answer:
The correct answer is option a.
Explanation:
Comparative advantage refers to the situation where an individual, firm, or nation can produce a good at a comparatively lower opportunity cost.
It is given here that,
Hank's opportunity cost of producing a bushel of corn = 2 bushels of soybeans
And,
Tony's opportunity cost of producing a bushel of corn = 3 bushels of soybeans
We see that Hank has a lower opportunity costs in the production of corn. So we can say Hank has a comparative advantage in the production of corn. Or in other words, Hank specializes in the production of corn.
Hank has a comparative advantage over Tony in the production of corn because his opportunity cost is lower. He only has to give up 2 bushels of soybeans to produce a bushel of corn compared to Tony's 3 bushels. Therefore, the statement is true.
Explanation:The question asks if Hank has a comparative advantage in the production of corn over Tony. In economics, a person has a comparative advantage at producing something if they can produce it at a lower opportunity cost than someone else. Here, the opportunity cost for Hank to produce a bushel of corn is 2 bushels of soybeans, while for Tony it is 3 bushels of soybeans. Therefore, Hank indeed has a comparative advantage as he is giving up less to produce corn. So, the answer is (a) True.
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Marya Callais, a citizen of Florida, was walking along a busy street in Tallahassee, Florida when a large crate flew off a passing truck and hit her, causing numerous injuries. She experienced a great deal of pain and suffering, incurred significant medical expenses, and could not work for six months. She wants to sue the trucking firm for $300,000 in damages. Who is the potential plaintiff in this lawsuit?
Bruce has a credit card that uses the average daily balance method. For the first 9 days of one of his billing cycles, his balance was $2030, and for the last 22 days of the billing cycle, his balance was $1450. If his credit card's APR is 23%, which of these expressions could be used to calculate the amount Bruce was charged in interest for the billing cycle?
Answer:
$31.61
Explanation:
In order to determine the amount of interest charged you must first calculate the average daily balance:
average daily balance = [($2,030 x 9) + ($1,450 x 22)] / 31 = $1,618.39
Now we must calculate the daily interest rate:
daily interest rate = 23% / 365 = 0.063%
Finally we multiply the average daily balance times the daily interest rate times the number of days in the billing period:
interest charged = $1,618.39 x 0.063% x 31 days = $31.61
Answer:
The answer is (0.23/365x31)(9x$2030+22x$1450/31)
Explanation:
Total direct materials costs are $127,500, fixed costs are $75,000, and units produced are 15,000. What is the direct materials cost per unit?
Answer:
$8.5 cost per unit
Explanation:
Given that
Total direct materials costs = $127,500
Fixed cost = $75,000
Number of units produced = 15,000 units
So, the direct materials cost per unit would be
= Total direct materials costs ÷ Number of units produced
= $127,500 ÷ 15,000 units
= $8.5 cost per unit
By dividing the total direct material cost by the number of units produced we could find out the direct materials cost per unit
A planning approach in which an organization updates its sales and operations plan regularly, such as on a monthly or quarterly basis is the definition of a
Answer:
Flexible Plan
Explanation:
A planning approach in which an organization updates its sales and operations plan regularly, such as on a monthly or quarterly basis is the definition of a flexible plan.
A flexible plan as opposed to a rigid plan is a plan that can be updated within the year as reality unfolds and by so doing the plan becomes more achievable. Variances from such flexible plans are more explainable and are better basis for judging the performance of managers than rigid budget variances which has not been updated with realities in the business environment.
Answer:
Rolling Planning Horizon
Explanation:
Based on the information provided within the question it can be said that the term that is being defined in this scenario is called a Rolling Planning Horizon. This planning approach is used in a variety of situations by solving an overall larger problem by using several submodels which when put together solves the larger problem. In this scenario by updating its sales and operations plan on a monthly or quarterly basis (submodels) it makes it easier to have the overal organization's sales and operations always updated
Class membership in the United States is determined to a much greater degree by individual background and schooling, as opposed to economic achievements.True/false
Answer: False
Reason:
The class system in the United States is not largely dependent in determining the class membership by using the individual background. Just like in Europe, Asia and other countries, USA has defined its upper, middle class and lower classes and has separate assessment way just like other countries. The USA class membership is determined on the grounds of individual wealth and is not concerned with level of education.
Mitch, a single tax-payer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2019, how much federal tax will he owe?A) N$22,000.B) $18,289.50.C) $13,879.D) $24,000.E) None of the choices are correct.
Answer:
E) None of the choices are correct.
18.289,26
As we given an option with two decimals which are different from the calculated amount we should take it as incorrect.
Explanation:
The municipal bonds are tax free. Therfore, not included.
We will calcuatae based on 2019 income tax brackets for single-taxers
between $82,501 to $157,500 the amount is $14,089.50 + 24% of the amount over 78,950
100,000 - 82,501 = 17,499
17,499 x 24% = 4,199.76
14,089.50 + 4,199.76 = 18.289,26
In a state's Pick 3 lottery game, you pay $1.441.44 to select a sequence of three digits (from 0 to 9), such as 333333. If you select the same sequence of three digits that are drawn, you win and collect $363.23363.23. Complete parts (a) through (e). a. How many different selections are possible? 10001000 b. What is the probability of winning? 0.0010.001 (Type an integer or a decimal.) c. If you win, what is your net profit? $361.79361.79 (Type an integer or a decimal.) d. Find the expected value
Answer:
A) total number of possible selections = 10 x 10 x 10 = 1,000
B) the probability of winning = 1 / total number of possible selections = 1 / 1,000 or 0.001
C) in case you win, your net profit = $363.23 - $1.44 = $361.79
D) the expected value of your bet = (probability of winning x value of the winnings) - [(1 - probability of winning) x cost of the ticket] = (0.001 x $363.23) - [(1 - 0.001) x $1.44] = $0.36323 - (0.999 x $1.44) = $0.36323 - $1.43856 = -$1.07533 ≈ -$1.08
If a company states in its advertisements that 10 percent of all profits go to planting trees in various parts of the world, that company is engaging in _____ marketing. A. value proposition B. accountability C. green D. brandfest E. branded content
Answer:
C. GREEN MARKETING
Explanation:
Green Marketing is marketing of products proclaimed as environmentally safe. This marketing incorporates many important P's of Marketing : Product ('green' production process), Packaging (eg: biodegradable).
This type of marketing can also includes 'Corporate Social Responsibility' , investment in environmental upgradation as is the case in the question.
Value Proposition is statement to consumers' convincing their product distinctive worthiness. Brandfest is prospecting consumers collecting event , eg- exhibition. Branded Content is marketing through creation & dissemination of content . None of these three are related to it.
A woman marries her butler. Before they were married, she paid him $60,000 per year. He continues to wait on her as before (but as a husband rather than as a wage earner). She earns $1,000,000 per year both before and after her marriage. The marriage: a. does not change GDP. b. decreases GDP by $60,000. C. increases GDP by $60,000. d. increases GDP by more than $60,000.
Answer:
B) decreases GDP by $60,000.
Explanation:
The GDP includes the total production of final and legal goods and services. But in order for a service to be included in the GDP, they must be sold to someone else. The same restriction applies to a person that grows vegetables and fruits on his/her backyard for personal consumption.
If an exchange is not made, then it is not included in the GDP. The difference with manufactured products that once finished are included in inventories (increase investment) is that materials, labor and other inputs were used to produce them and someone got paid for them.
Building brand equity can involve leveraging secondary associations which can be derived in a variety of ways.Linking the BMW car brand to reliable German engineering is an example of the what kind of secondary association?
Answer:
Country of Origin
Explanation:
The aim of leveraging secondary association is to build a new brand by taking advantage of an existing popular brand as this makes the process easier.
Different factors of the parent brand like country of origin , distribution channels and prior knowledge are considered before deciding the right association to leverage on.
Some countries are reputable for high qualities of certain product. Just as Japan is to electronics , automobile is to Germany, that is the reason that the country of origin is a factor to consider in deciding secondary association for leveraging as in seen in the question
Final answer:
BMW's association with German engineering is an example of leveraging 'Country of Origin' effects to build brand equity. Brand ambassadorships and synergistic advertising across platforms also play vital roles in reinforcing brand value and establishing a trustworthy reputation.
Explanation:
Linking the BMW car brand to reliable German engineering is an example of leveraging a type of secondary association known as Country of Origin effects. The concept of associative learning in advertising suggests that by connecting BMW with the high standards of engineering excellence that Germany is known for, customers may infer that BMW cars are of superior quality. This helps in building brand equity for BMW through the positive perceptions associated with German engineering.
Brand ambassadorships further enhance brand equity by leveraging the power of referrals and associations with influential personalities. An ambassador advocating for a brand can create a strong, positive connection in the consumers' minds. The trust and credibility projected by these ambassadors can contribute to higher customer loyalty and brand recommendation.
Synergistic advertising practices across different platforms also play a crucial role in reinforcing a consistent brand message. This multifaceted approach ensures that customers are continually reminded of a brand's value proposition, which can help in establishing a reliable reputation, thereby also contributing to brand equity.
Some economists say that economic growth involves a trade-off between current generations and future generations. If a current generation raises its saving rate, what does it sacrifice? What will be gained for future generations?
Answer:
Current consumption .
More output & More capital.
Explanation:
Economic growth is the increase in the productive base of a country within a period of time. It can also be seen as the increase in the production of goods and services produced by a country within a period of time, it is simply increase in the gross domestic product (GDP)
Savings is that part of disposable income that is not consumed. That is, that part of income that is not spent on current consumption is what we called savings, the simple equation is:
S = Yd - C
Where: S = Savings, Yd = Disposable income and C = Consumption.
When the current generation raises its savings rate, it sacrifices current consumption which is alternative forgone or opportunity cost of savings.
The gain for future generation is the accumulation of capital that will be available to them to produce more goods and services.
How can this be accomplished? Universal Containers has a custom object "service" which has a lookup relationship to Account. Universal Containers wants to enhance Salesforce1 with an action that allows account managers to enter a new service to an Account while looking at the account.A. Enter an object specific action to Account and put it in the Account LayoutB. Enter an object specific action to Service and put it in the Account LayoutC. Enter an object specific action to Service and put it in the Service LayoutD. Enter an object specific action to Account and put it in the Service Layout
Answer:
A. Enter an object specific action to Account and put it in the Account Layout.
Explanation:
Enter an object specific action to Account and put it in the Account Layout.
To enable account managers to enter a new service from Account in Salesforce1, Universal Containers would need to create an object-specific action for the Account object and add it to the Account layout. This would allow the new service to be rendered when viewing an Account.
Explanation:Universal Containers can achieve this by creating an object-specific Action for the Account. This Action will enable an Account manager to add a new Service directly from the Account view in Salesforce1.
From the setup menu, navigate to the Account object.Click buttons, links, and actions, then click New Action.Select the type of action to create. In this case, this would be create a new record for the Service object.Define the layout and action details like labeling, then save.Next, navigate to the Account page layout and add this action in the Salesforce1 Actions section.It's important to make sure that this action is added to Account Layout and not Service Layout, so that it can be accessible while viewing an Account.
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The executives of well-established airlines are notless smart than those at JetBlue, and yet, theirlarger airlines have not done what JetBlue hasdone. Why?
Answer:
JetBlue was able to invest in new technology Airlines which has helped to boost its efficiency and overall performance,but the older have to do away with their old styles ''legacies''
Explanation: Advancement in technology has actually helped organisations especially the new entrants to perform exceeding better than the older once, like the case of JetBlue, it is a ''Late mover'' which means it entered the market later making it and started to spend on modern technology Airlines which has helped to boost its overall outputs. It also does not have any issues on the immediate which must have affected the older Airlines.
Major airlines have been engaged in mergers and accused of predatory pricing, practices that may have hindered them from adopting strategies similar to JetBlue. Even with equally capable executives, these larger airlines face unique challenges in the ever-competitive airline industry.
Explanation:The question asks why well-established airlines have not done what JetBlue has done, despite their executives being equally smart. One possible reason could be that larger airlines have faced challenges and competitive practices that have hindered their ability to innovate or change their business models in the same way as JetBlue.
Major airlines have seen a series of mergers which have raised concerns about compromised competition. Moreover, these airlines have been accused of predatory pricing, a strategy wherein larger airlines slash prices to drive out smaller competitors.
New entrants may decide not to compete in such a cutthroat environment. Therefore, these factors could potentially explain why well-established airlines have not adopted the same strategies as JetBlue, despite their leadership being equally intelligent.
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One area of town has maximum building height requirements and setbacks for the front, side, and rear yards. These requirements are all indicative of ______.
Answer:
Bulk zoning
Explanation:
Bulk zoning refers to zoning regulations designed to decrease the population density of a specific area. Generally cities apply very strict bulk zoning regulations on residential areas, which should be used specifically for building homes. If you limit the maximum height of the constructions, even if you build a condominium it must not have more than 2 or 3 floors.
Sometimes bulk zoning regulations are also applied to commercial areas that are located far away from the central district. This is specially useful when you wish to separate city areas through the use of extensive commercial areas that are located on specific avenues. For example, north of ABC avenue the zoning regulations allow tall buildings, while south of that avenue only houses can be built.
Assume the economy is in recession and real GDP is below full employment. Themarginal propensity to consume (MPC) is 0.90, and the government follows Keynesianeconomics by using expansionary fiscal policy to increase aggregate demand (totalspending). If an increase of $1,000 billion aggregate demand can restore full employment,the government should:
a.increase spending by $100 billion.
b. decrease spending by $790 billion.
c.increase spending by $1,000 billion.
d. increase spending by $250 billion.
Answer:
a.increase spending by $100 billion.
Explanation:
For computing the effect, first we have to find out the multiplier then, the spending amount effect which is shown below:
Government spending multiplier = 1 ÷ (1 - marginal propensity to consume)
Government spending multiplier = 1 ÷ (1 - 0.90)
Government spending multiplier = 1 ÷ 0.10
So, Government spending multiplier = 10
Now the effect of spending would be
= Output level at full employment ÷ Government spending multiplier
= $1,000 billion ÷ 10
= $100 billion increase
For international events, it is considered wise to add a contingency factor of _______ over the basic cost estimates in order to cover currency fluctuations if services need to be contracted using the local currency.
Answer: 10-20%
Explanation: A contingency factor is anything you can't predict accurately or forecast in the future. In order to cover currency fluctuations when services are done in local currency, contingency cost of 10-20% over basic cost estimate is advisable.
A large software manufacturer attempts to lock in customers by making it difficult for customers to change to another product. The strategy used by the company is referred to as ________.
a. consumerist strategy.
b. low cost operation strategy
c. standardization strategy
d. switching costs strategy
Answer:
Switching Costs Strategy
Explanation:
Switching Costs represent costs that are to be incurred by a customer due to a change of products, service providers or brands. Switching costs which is usually quantified monetarily represents the effort and time involved in changing products, failure of the new product being switched to, exorbitant cancellation costs that may be set by brands and manufacturers and also the disruption of smooth daily operations.
The effect of switching costs strategy is that customers will consider them carefully and could be discouraged from making the switch or change in product simply as a result of the costs.
As seen in the question, any attempt time, psychological or effort put in place by a manufacturer to discourage a customer from switching brands or products or even services is a switching cost strategy.
White Company has the following information at the end of the current year: Beginning Direct Materials Inventory $12,000 Ending Direct Materials Inventory 10,000 Purchases of Direct Materials 15,000 Beginning Work-in-Process 5,000 Ending Work-in-Process Inventory 3,000 What is the cost of direct materials used?
Answer:
$17,000
Explanation:
Step 1: Determine the formula for the direct material used
= Beginning Direct Material Inventory + Purchases of Direct Materials - Ending Direct Material Inventory
The Work in progress values should only find expression Manufacturing Account Statement preparation of production cost.
Step 2: Fit the figures into the formula
Beginning Direct Material = $12,000
Purchases of Direct Materials = $15,000
Closing/ Ending Direct Material = $10,000
Cost of Direct Material Used = $12,000 + $15,000- $10,000= $17,000.
Note: Direct material are those raw materials in production or manufacturing that are directly used, related or traceable to the goods or products manufactured.