Answer:
Present value = $115,278.17
Explanation:
Given data:
Monthly repay amount for 2 year = $2500
Monthly repay amount for another 2 year = $3500
APR =6%
monthly interest rate = 6.50/12 = 0.54167%
Present value is calculated as
Present value [tex]= \frac{monthly payment}{(1 + monthly rate)^n} [/tex]
Present value [tex]= \frac{2500}{(1 + 0.54167\%)^1} +\frac{2500}{(1 + 0.54167\%)^2} +........ + \frac{2500}{(1 + 0.54167\%)^{24}} + \frac{3000}{(1 + 0.54167\%)^{25}} + ...... + \frac{3000}{(1 + 0.54167\%)^{48}}[/tex]
Present value [tex]= 2500\times \frac{(1-(\frac{1}{1.0054167})^{24})}{0.0054167} + 3000\times \frac{(1-(\frac{1}{1.0054167})^{24})}{0.0054167}[/tex]
Present value = $115,278.17
The Madden Company uses a process costing system. During September the mixing department transferred out 65,000 units. The September 30th work-in-process inventory in the mixing department consisted of 22,000 equivalent units of material and 20,150 equivalent units of labor and overhead. The cost per equivalent unit was $5.50 for materials and $5.00 for labor and overhead.
The total balance in the work-in-process inventory account on September 30th was______.
Answer:
Total balance in the work-in-process inventory account on September 30th was $ 121000 + $ 110825= $ 231825
Explanation:
Cost per equivalent unit for material = $ 5.50
Equivalent units of materials = 22,000
Cost of Materials = $ 121,000
Cost per equivalent unit for labor and overhead = $ 5.50
Equivalent units of materials = 20,150
Cost of labor and FOH = $ 110825
Total balance in the work-in-process inventory account on September 30th was = Material + Labor + OH= $ 121000 + $ 110825= $ 231825
Donald produces nails at a cost of $200 per ton. If he sells the nails for $350 per ton, his producer surplus per ton isA. $350.B. $200.C. $550.D. $150.
Answer:
The correct answer is letter "D": $150.
Explanation:
Producer Surplus is the difference between the price at which a producer sells a product and the minimum price a producer would have accepted for the product. The surplus comes from the producer being able to sell its products at a higher market price than its minimum price.
Thus, in the example:
Producer surplus = $350 - $200
Producer surplus = $150
A business paid $40 in dividends. Show how to record the transaction to the T-accounts by completing the following sentence. Dividends would be (debited/credited) on the (left/right) side of the T-account. and Cash would be (debited/credited) on the (left/right) side of the T-account.
Answer:
Dividends would be debited on the left side of the T-account and Cash would be credited on the right side of the T-account.
Explanation:
The T-accounts is a system of accounting used to record transactions in debits and credits. Accounts are recognized based on class- Assets and expenses are usually debit while revenue and liabilities are credit balances.
If dividend was paid the entries required are debit to dividends credits to cash.
Dividends would be debited on the left side of the T-account and Cash would be credited on the right side of the T-account.
Topik is a product that is sprayed on thinning hair and makes the hair appear thicker. The manufacturer considers its potential market to be blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes. The manufacturer of Topik considers this group to be its:
(A) population
(B) sample
(C) target market(D) demand group(E) utility market(F) package group
Answer:
(C) target market
Explanation:
The group of people for which a product is designed and aimed to is the product's target market. In this case, Topik is a product that aims to sell to blue-collar workers who earn less than $30,000 per year, are divorced, and who like to think of themselves as weekend athletes, which is the product's target market.
The answer is (C).
Final answer:
The manufacturer of Topik considers blue-collar workers earning less than $30,000 per year, who are divorced, and fancy themselves as weekend athletes, as its target market option C.
Explanation:
The manufacturer of Topik, which is a product used to make thinning hair appear thicker, considers the group of blue-collar workers earning less than $30,000 per year, who are divorced, and like to think of themselves as weekend athletes to be its target market. A target market is a specific group of consumers at which a company aims its products and services. Understanding the target market is crucial for effective marketing strategies and product positioning.
When Raoul Welsh is evaluating the construction industry in terms of interest rates, employment cycles, and the rate of new home building nationwide, he is looking at microeconomics.True/False
Answer:
FALSE
Explanation:
Microeconomics refers to the branch of economics which examines the actions of persons and businesses in making choices about limited resource distribution and the relationships between these entities and industries.
Although microeconomics concentrates on companies and people, macroeconomics focuses on overall economic exercise, talking about issues of development, interest rates, and joblessness, and governmental policies on such concerns.
Thus, from the above we can conclude that the given statement is false.
The field of _______ is considered a subfield of behavioral medicine and focuses on the various mental factors that are important for the establishment and maintenance of physical and psychological health.
That would be the field of Psychiatry, which is he study of human behavior in correlation to medication therapy.
Health Psychology, a subfield of behavioral medicine, focuses on how psychological factors affect the maintenance of physical and psychological health. It uses the biopsychosocial model and often studies the effects of behaviors and lifestyles on health, modifying risky behaviors, and identifying high-risk groups.
Explanation:The field referred to in the question is Health Psychology, a subfield of behavioral medicine. It concentrates on how various psychological factors significantly contribute to maintaining physical and psychological health. It culminates in the biopsychosocial model, which examines health and illness as a nexus of biological, psychological, and sociocultural factors.
Health psychologists often research the effects of behaviors and lifestyles on health and well-being, such as why people smoke or eat unhealthy food despite the risks. They also design and evaluate interventions for modifying risky behaviors. Through their work, they identify specific groups at increased risk for ill health based on psychological or behavioral factors.
Much of health psychology's focus dissect the effects of stress and other psychological factors on human health, establishing it as a vital subfield in our understanding of human health and wellbeing.
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Kwik Delivery Service reports the following costs and expenses in June 2013. Indirect materials $ 8,400 Driver's salaries $14,000 Depreciation on delivery Advertising 5,100 equipment 11,200 Delivery equipment Dispatcher's salary 5,000 repairs 300 Property taxes on office Office supplies 650 building 870 Office utilities 1,490 CEO's salary 12,000 Repairs on office Gas and oil for delivery trucks 3,200 equipment 180 Instructions Determine the total amount of (a) delivery service (product) costs and (b) period costs.
Answer:
service cost: 41,800
period cost: 20,590
Explanation:
delivery service cost: those who are related to the deliveries
Indirect materials 8,400
Depreciation on delivery equipment 11,200
Dispatcher's salary 5,000
Gas and oil for delivery trucks 3,200
Driver's salaries 14,000
Total: 41,800
period cost: those who can be linker directly or indirectly throught allocation of overhead into the delviery cost.
Repairs on office equipment 180
Office utilities 1,490
Office supplies 650
Property taxes on office building 870
Advertising 5,100
CEO's salary 12,000
*Repairs delivery equipment 300
Total: 20,590
While the repair are made on delivery equipment they cannot be linked to an specific delivery or allocated as they do not incease the capacity, this isn't maintenance this is repairs those, expense for the period.
Delivery service or product costs are those directly necessary for producing or delivering a product. In this case, these amount to $37,100. Period costs are those unrelated to production levels, totaling $25,290 in this scenario.
Explanation:In accounting, delivery service costs (product costs) are the costs involved in producing or delivering a product, while period costs aren't directly tied to production – they're incurred regardless of production levels.
From the given expenses, the delivery service costs include indirect materials, driver's salaries, depreciation on delivery equipment, repairs on delivery equipment, and gas and oil for delivery trucks, totaling $8,400 + $14,000 + $11,200 + $300 + $3,200 = $37,100.
The period costs include the dispatcher's salary, office supplies, property taxes on the office building, office utilities, advertising, CEO's salary, and repairs on office equipment, totaling $5,100 + $650 + $870 + $1,490 + $5,000 + $12,000 + $180 = $25,290.
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An effective integrated communications and promotion program should begin with ___.
a. Choosing appropriate media for message transmittal
b. Creating a message Identifying communication objectives
c. Gathering feedback
d. Discovering the target audience
Answer:
The correct answer is letter "D": Discovering the target audience.
Explanation:
Integrated communications and promotion programs consist of portraying consumers with advertising that will help them make decisions in choosing one product over another. To achieve this, the first step that must be taken is to find out who the company will be dealing with. It implies researches about potential consumers, their preferences, and customers' behavior.
An effective integrated communications and promotion program should begin with creating a message, identifying communication objectives, and discovering the target audience.
Explanation:An effective integrated communications and promotion program should begin with creating a message, identifying communication objectives, and discovering the target audience. These three elements are crucial in establishing the foundation for a successful communication program.
When creating a message, it is important to craft a compelling and clear message that aligns with the goals of the communication program. Identifying communication objectives allows the organization to define what they want to achieve through their communication efforts. Finally, discovering the target audience helps businesses tailor their messages and choose appropriate media for message transmittal. This ensures that the right message reaches the right audience through the most effective channels.
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Actions firms take to gain competitive advantages in a single market or industry are known as A. business level strategies. B. corporate level strategies. C. functional level strategies. D. sustainable strategies.
Answer:
A. business level strategies
Explanation:
Business level strategies -
It refers to the strategy taken by the business or organisation , in order to satisfy the needs of the human being , is referred to as business level strategies.
The method is adapted for the betterment of the business or firm , by making the consumers happy and satisfied.
Hence , from the given information of the question,
The correct option is A. business level strategies .
A Supply Chain is best described by which of the following: a. A group of cooperative carriers b. A group of collaborative companies c. A formal association of competitive companiesd. Two firms who create a strategic alliance
Answer:
B- A group of collaborative companies.
Explanation:
Supply chain is a network which involves different companies collaborating at different points. Total 6 elements are involved in supply chain network:
SupplierManufacturerDistributorwholesaler Retailer ConsumerExcept consumer, at every stage a different company is involved and collaborating with the other company to gain profit.
Tom, Angela, and Peter want to become co-owners of a business enterprise. Compare their personal liability for the debts incurred by the enterprise if they organize as: a. A general partnership. b. A limited partnership. c. An LLC. d. An S Corporation.
Answer and explanation:
Liabilities are those responsibilities companies incur as a result of the operations of their business. Depending on how entities are settled, liability could be limited or unlimited. Limited liability means that in front of debt, the firm owners' personal assets are not considered for the repayment of the debt. On the other hand, if the company has unlimited liability, the debt does not only passes to the company but also to the owners' personal property.
Different types of organizations have different types of liabilities as follows:
A) A general partnership - Unlimited Liability
B) A limited partnership - Limited Liability
C) An LLC (Limited Liability Company) - Limited Liability
D) An S Corporation - Unlimited Liability
Final answer:
This response explains the personal liability implications for partners in different business structures.
Explanation:
Comparison of Personal Liability in Different Business Structures
A. General Partnership: In a general partnership, all partners have unlimited personal liability for the debts and obligations of the business. Each partner is personally responsible for all the business's debts.
B. Limited Partnership: In a limited partnership, there are both general and limited partners. General partners have unlimited personal liability, while limited partners' liability is limited to their investment in the partnership.
C. LLC: In a Limited Liability Company (LLC), owners have limited personal liability, similar to that of shareholders in a corporation. Their personal assets are generally protected from business debts and obligations.
D. S Corporation: In an S Corporation, shareholders have limited personal liability for the company's debts and obligations, similar to shareholders in a regular corporation.
ssume that interest rate parity exists. You expect that the one-year nominal interest rate in the U.S. is 7%, while the one-year nominal interest rate in Australia is 11%. The spot rate of the Australian dollar is $.60. You will need 10 million Australian dollars in one year. Today, you purchase a one-year forward contract in Australian dollars. How many U.S. dollars will you need in one year to fulfill your forward contract? A. $5,784,000 B. $5,387,000 C. $6,184,000 D. $8,356,000
Answer:
The answer is A. $5,784,000
Explanation:
[(1.08)/(1.11)] -1 = -3.6%
Thus one year forward rate is 0.60*[1 +(0.036)] = $5784
$5784 * 10 000 000= $5,784,000
The cost of renting tuxes for the Choral Society’s formal is $20 down plus $88 per tux. Express the cost ???? as a function of x, the number of tuxedos rented. a. What is the cost of renting two tuxes? b. What is the cost of the second tux? c. What is the cost of the tenth tux? d. What is the variable cost? e. What is the fixed cost? f. What is the marginal cost?
Final answer:
The cost of renting tuxes for the Choral Society's formal can be expressed as a function of the number of tuxedos rented. The cost equation is $20 + $88x. To find the cost of renting two tuxes, substitute x = 2 into the equation. The variable cost is $88, the fixed cost is $20, and the marginal cost is $88.
Explanation:
The cost of renting tuxes for the Choral Society’s formal can be expressed as a function of the number of tuxedos rented, x. The cost equation can be written as:
Cost = $20 + $88x
a. To find the cost of renting two tuxes, substitute x = 2 into the equation:
Cost = $20 + $88(2) = $20 + $176 = $196
b. To find the cost of the second tux, substitute x = 2 into the equation:
Cost = $88(2) = $176
c. To find the cost of the tenth tux, substitute x = 10 into the equation:
Cost = $20 + $88(10) = $20 + $880 = $900
d. The variable cost in the equation is $88, as it depends on the number of tuxedos rented.
e. The fixed cost in the equation is $20, as it remains constant regardless of the number of tuxedos rented.
f. The marginal cost is the additional cost incurred by renting one more tuxedo. It can be calculated by finding the change in cost when x increases by 1:
Marginal Cost = Cost(x+1) - Cost(x)
Substitute x = 9 and x = 10 into the equation to find the marginal cost of the tenth tux:
Marginal Cost = (Cost(10+1) - Cost(10)) = (Cost(11) - Cost(10)) = ($20 + $88(11) - ($20 + $88(10)) = $20 + $968 - $900 = $88
Suppose that the price of food increases by 2%, the price of clothing increases by 4%, and food and clothing each account for half of expenditures; therefore, the overall inflation rate is 3%. A 3% increase in income is necessary to achieve the same level of utility.true/false
Answer:
True
Explanation:
Since the overall inflation is 3%, a rise in income of 3% is necessary to balance off the rise in inflation.
The information below should be used to prepare (in proper form in Excel) a Public Transportation column for the proprietary fund Statement of Revenues, Expenses, and Changes in Fund Net Position for the fiscal year ending May 31, 2018.
Operating Revenue (Services) $25,705,000
Interest Revenue $36,000
Intergovernmental Revenue $140,000
Capital Contributions $1,200,000
Operating Expenses:
Employee Wages $8,654,000
Temporary Labor $750,000
Repairs and Maintenance $6,425,000
Depreciation $4,532,000
Utilities $948,000
Interest Expense $475,000
Transfer to General Fund $315,000
Net position, June 1, 2017 $3,820,000
Please also answer the following questions in MS Word:
What observations can you make about the fund’s activity from June 1, 2017-May 31, 2018?
Identify the other proprietary fund statements and what measurement focus and basis for accounting are used in those statements.
What reports and schedules are included in the CAFR as required supplementary information?
Answer:
find attached excel file as well as the word document
Explanation:
The computations are on excel while the theory answers are on word document as required by the question
Answer:
Explanation:
Kindly find attached the solution.
Basic scientific research is research that may not have immediate commercial application, but has the potential to contribute to a diverse set of commercial applications in the future. For example, the basic science for laser beam technology was developed in Bell Laboratories in 1960. Since then laser technology has been used in medical technologies, data transmission and a host of other commercial applications. In this example, the development of laser technology created _________.
a. positive externalitiesb. negative externalitiesc. imperfect informationd. imperfect competition
Answer:
The correct answer is letter "A": positive externalities.
Explanation:
An Externality is a cost or benefit incurred or received by a third party who has no control over the factors that created the cost or benefit. Positive externalities occur when both at the private and social levels have a positive benefit from the consumption or production of a good.
Unrealized Loss on Trading Investments a.is reported on the income statement in the operating expenses area. b.is reported on the balance sheet. c.is not significant enough to be reported. d.is reported on the income statement separately or as a part of Other Income and Expense.
Answer: D. is reported on the income statement separately, or as a part of Other Income and Expense, depending on its significance.
Explanation: Unrealized losses are losses that have been inputted on paper, but the corresponding transactions have not been completed. They are also known as paper loss, due to their being recorded on paper; and are changes in the value of assets or liabilities that have not yet been settled. They are reported on the income statement separately or as a part of other income and expense (accumulated comprehensive income), usually found in the equity section of the balance sheet.
Bill O’Brien would like to take his wife, Mary, on a trip three years from now to Europe to celebrate their 40th anniversary. He has just received a $20,000 inheritance from an uncle and intends to invest it for the trip. Bill estimates the trip will cost $26,600. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) What interest rate, compounded annually, must Bill earn to accumulate enough to pay for the trip? (Round your interest rate to the nearest whole percentage.)
Answer:
10%
Explanation:
Use future value formula
Future Value = Present Value ((1+r)^n)
26,600 = 20,000 ((1+r)^3
26,600/20,000 = (1+r)^3
1.33 = (1+r)^3
1.33^1/3 = 1+r
1.0997 = 1+r
1.0997 - 1 = r
r = 0.997 = 9.97% = 10% (rounded of to the nearest whole percentage)
10%, interest rate, compounded annually, must Bill earn to accumulate enough to pay for the trip.
Given information:
Europe will commemorate their 40th birthday.
He recently got a $20,000 inheritance from an uncle, which he plans to use to finance the journey.
The holiday, according to Bill, will cost $26,600.
Future Value = Present Value ([tex](1+r)^n[/tex]
26,600 = 20,000 × [tex](1+r)^3[/tex]
26,600/20,000 = [tex](1+r)^3[/tex]
1.33 = [tex](1+r)^3[/tex]
[tex]1.33^{1/3}[/tex] = 1 + r
1.0997 = 1 + r
1.0997 - 1 = r
compounded annually = 9.97%
10% rounded off to the nearest whole percentage
As a result, the significance of the interest rate, compounded annually, must Bill earn to accumulate enough to pay for the trip are the aforementioned.
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Physical capital differs from raw materials in the sense that raw materials A. have a longer useful life in production B. are considered human capital C. cannot be used to produce goods and services D. are used up in production E. are not a resource used in production
Answer:
D. are used up in production
Explanation:
Raw materials can be seen as the "ingredients" required to produce a good and, thus, are consumable (used up in production). Physical capital refers to lasting goods that are assist the production process like buildings or machinery and are not consumable.
Spartan Castings must implement a manufacturing process that reduces the amount of particulates emitted into the atmosphere. Two processes have been identified that provide the same level of particulate reduction. The first process is expected to incur $ 300 comma 000 of fixed cost and add $ 60 of variable cost to each casting Spartan produces. The second process has fixed costs of $ 200 comma 000 and adds $ 80 of variable cost per casting.
What is the break-even quantity beyond which the first process is more attractive?
What is the difference in total cost if the quantity produced are 10,000?
Answer:
(a) 5,000
(b) $100,000
Explanation:
(a) Break Even Point:
= Difference in Fixed Cost ÷ Difference in Variable Cost
= ($300,000 - $200,000) ÷ ($80 - $60)
= $100,000 ÷ $20
= 5,000
(b) If quantity produced are 10,000 units,
Total cost of first process:
= Fixed cost + Variable cost
= $300,000 + ($60 × 10,000)
= $300,000 + $600,000
= $900,000
Total cost of second process:
= Fixed cost + Variable cost
= $200,000 + ($80 × 10,000)
= $200,000 + $800,000
= $1,000,000
Therefore,
Difference in total cost:
= Total cost of second process - Total cost of first process
= $1,000,000 - $900,000
= $100,000
Altima, Inc. finished Job A40 on the last working day of the year. It utilized $ 360 of direct materials and $ 2 comma 030 of direct labor. Altima uses a predetermined overhead allocation rate based on direct labor costs, which has been fixed at 40%. The entry to record the completion of the job should involve a ________. A. debit to Finished Goods Inventory $ 3 comma 202 and a credit to Materials Inventory $ 3 comma 202 B. debit to Cost of Goods Sold $ 3 comma 202 and a credit to Finished Goods Inventory $ 3 comma 202 C. debit to Finished Goods Inventory $ 3 comma 202 and a credit to WorkminusinminusProcess Inventory $ 3 comma 202 D. debit to WorkminusinminusProcess Inventory $ 3 comma 202 and a credit to Finished Goods Inventory $ 3 comma 202
Answer:
C. debit to Finished Goods Inventory $ 3 comma 202 and a credit to Work minus Process Inventory $ 3 comma 202
Explanation:
The journal entry is shown below:
Finished goods inventory A/c Dr $3,202
To Work in process inventory A/c $3,202
(Being the job is completed)
The computation is shown below:
= Direct material cost + Direct labor cost + manufacturing overhead cost
= $360 + $2,030 + $2,030 × 40%
= $360 + $2,030 + $812
= $3,202
You are thinking of purchasing a house. The house costs $350,000. You have $50,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires monthly payments and has an APR of 6% per year. What will your monthly payment be if you take this mortgage? how much interest is paid off in your first mortgage payment?
Answer:
Monthly repayment (P) = $1,798.65
Interest Paid off in First Mortgage = $107,919.09
Explanation:
Monthly repayment (P) = rA / [1 − (1+r)^-n]
where
A = Loan Amount
r = monthly interest rate
n = loan duration in months
A = House Cost - down payment
= $350,000 - $50,000 = $300,000
r = 6% = 6%/12 = 0.005
n = 30-years = 30 x 12 = 360 months
Monthly repayment (P) = 0.005($300,000)/ [1 − (1+0.005)^-360]
Monthly repayment (P) = $1,500/ [1 − (1.005)^-360]
Monthly repayment (P) = $1,500/ [1 − 0.166041928]
Monthly repayment (P) = $1,500/ 0.833958072
Monthly repayment (P) = $1,798.651575
Monthly repayment (P) = $1,798.65
To Calculate Interest Paid off in First Mortgage Payment
if there is no down payment
Loan Amoun will be $350,000
Monthly repayment (P) = rA / [1 − (1+r)^-n]
Monthly repayment (P) = 0.005($350,000)/ [1 − (1+0.005)^-360]
Monthly repayment P) = $1,750/ [1 − (1.005)^-360]
Monthly repayment (P) = $1,750/ [1 − 0.166041928]
Monthly repayment (P) = $1,750/ 0.833958072
Monthly repayment (P) = $2,098.426838
Monthly repayment (P) = $2,098.43
Total Payment if loan is $350,000 = $2,098.426838 x 360 = $755,433.6617
Total Payment if loan is $300,000 = $1,798.651575 x 360 = $647,514.5670
Interest Paid off in First Mortgage
Payment = $755,433.6617 - $647,514.5670 = $107,919.0947
= $107,919.09
Final answer:
The monthly payment for a 30-year mortgage on a $350,000 house with a $50,000 down payment at a 6% APR is $1,798.65. The interest paid in the first payment is $1,500.
Explanation:
To calculate the monthly mortgage payment for a house with a purchase price of $350,000, a down payment of $50,000, and a 30-year mortgage with an APR of 6%, you can use the formula for the monthly payment on an amortizing loan:
[tex]PMT = \frac{P * (r(1+r)^{n})}{((1+r)^{n - 1})}[/tex]
Where:
PMT is the monthly paymentP is the loan amount (purchase price minus down payment)r is the monthly interest rate (annual rate divided by 12)n is the total number of payments (loan term in years multiplied by 12)Using this formula, with P = $300,000 ($350,000 - $50,000), r = 0.005 (6% / 12 months), and n = 360 (30 years * 12 months), the monthly payment is:
[tex]PMT = \frac{\$300,000 * (0.005(1+0.005)^{360})}{((1+0.005)^{360 - 1})} = $1,798.65[/tex]
Your first mortgage payment would include interest based on the initial loan balance. For the first payment, the interest portion is calculated as $300,000 * 0.005 = $1,500. This means that out of your first payment of $1,798.65, $1,500 goes towards interest and the rest ($298.65) goes to reduce your principal balance.
A catering company prepared and served 300 meals at an anniversary celebration last week using eight workers. The week before, six workers prepared and served 240 meals at a wedding reception. A. For which event was the labor productivity higher? Explain. B. What are some possible reasons for the productivity differences?
Answer:
Case 2 has higher labor productivity
Explanation:
A. Labor Productivity = Total output / Total Input of labor
Case 1.
Given:
Total output of meals = 300 meals
Total Input of labor = 8 worker
Labor Productivity for case 1. = 300 meals / 8 worker
= 37.5 meals/worker
Case 2.
Given:
Total output of meals = 240 meals
Total Input of labor = 6 worker
Labor Productivity for case 1. = 240 meals / 6 worker
= 40 meals/worker
So, we say that In case 2. labor productivity is higher.
B. The major difference is as follows:
The efficiency level of the worker in case 2 is better than case 1
(by providing better training and management)
The productivity was higher for the wedding reception, with 40 meals per worker compared to the anniversary's 37.5. Reasons for these differences could be meal complexity, worker expertise, or efficiency of work processes.
Labor productivity is commonly measured as the output produced by workers divided by the number of hours they work. In this case, the output is the number of meals prepared, and the input is the number of workers. For the anniversary celebration, 300 meals were prepared by 8 workers, which gives a productivity of 37.5 meals per worker. For the wedding reception, 240 meals were prepared by 6 workers, which gives a productivity of 40 meals per worker.
So, labor productivity was higher for the wedding reception. There could be various reasons for the differences in productivity. It could be due to the complexity of the meals, the expertise of the workers, or the efficiency of the processes used.
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Panther Pacific uses the net method of accounting for purchases and sales. The net method assumes that discounts are taken when a purchase or sale of inventory is made on account. Discounts are applied at the time a purchase or sale of inventory is made.
Answer: The net method assumes that discount are taken when a purchase or sale of inventory is made on account.
Explanation:
An invoice is a document sent by the seller to the buyer showing the description of the goods bought, the quantity, and the price. In invoice prices are sometimes given subject to so much percentage cash discount. The cash discount is a percentage reduction from the quoted prices of goods.It is an allowance given by the seller to the buyer in order to encourage the buyer to pay promptly. The term of sale known as net date with discount is a process whereby goods bought by the buyer are not paid for immediately, but it is paid for at a later date.
The net method of accounting assumes that the buyer will make use of the opportunity provided by the cash discount given by the seller and pays promptly in order to enjoy the cash discount. For example 2/10 net 30, this means that the buyer will be given 2% discount if the buyer pays within ten days, Therefore, the net method assumes that discount are taken when a purchase or sale of inventory is made on account. Also in the net method the recording of purchase is done with the cash discount given to the buyer by the seller, while sales are usually recorded at the net price.
In a fragmented industry A. prices increase as new competitors enter the market. B. the experience curve is ineffective in reducing costs. C. no firm has large market share. D. economies of scale are rarely used to reduce costs. E. companies avoid integration to further reduce costs.
In a fragmented industry, C. no single firm has a large market share. Firms in such industries do not drive prices up nor significantly employ economies of scale due to high competition and specialization.
In a fragmented industry, the characteristic scenario is that no firm has large market share. Firms are unable to fully leverage economies of scale, and as such, when new competitors enter, they do not cause prices to rise, but rather increase competition which could lead to lower prices. Additionally, integration strategies to reduce costs are less frequent in fragmented industries, as firms typically focus on their niche without substantial market power.
Whereas, in industries where economies of scale play a significant role, firms that expand production can lower costs and drive out less efficient, smaller competitors. This often ends with only a few firms dominating the market, benefiting from lower production costs and often resulting in limited room for new entrants due to high startup costs, brand recognition barriers, and other factors that contribute to high minimum efficient scales.
At the beginning of the project, it may not be possible to estimate the costs for all activities with a level of confidence regarding their accuracy. This is especially true for_________.
Answer: Longer-term project
Explanation:
At the beginning of a project, it may not be possible to estimate the costs for all activities with some levels of confidence regarding their accuracy if the project isn't a short-term project, because it's not really possible to accurately fortell the costs of unforseeable outcomes and factors that may affect the project in one way or the other in the long run.
According to Duffy-Deno (2003), when the price of broadband access capacity (the amount of information one can send over an Internet connection) increases 10%, commercial customers buy about 3.8% less capacity. What is the elasticity of demand for broadband access capacity for firms? Is demand at the current price inelastic?
Answer:
-Price elasticity of demand (PED )= 0.38
-The PED is less than one, therefore the demand is price inelastic.
Explanation:
Price elasticity of demand (PED) is the degree of responsiveness of quantity demanded to a unit change in the price of the product all other things being equal. This index measures the corresponding magnitude by which quantity demand will increase, for example, if the price reduces by a given %.
Price elasticity of demand Index is interpreted as follows:
if PED greater than 1, product is elastic
if PED less that 1, product is inelastic
PED is very useful in pricing policy. For example, a product that is price elastic will accrue more revenue if the seller reduces its price and vice versa
The price elasticity of demand for a product can be computed as follows:
PED = % change in qty DD/ % change in price
So we can compute the PED for Duffy-Deno as follows:
PED = 3.8%/10%
The PED is less than one, therefore the demand is price inelastic.
The elasticity of demand for broadband access capacity for firms is -0.38. Because the absolute value is less than 1, the demand is considered inelastic.
Explanation:Elasticity of demand is calculated as the percentage change in quantity demanded divided by the percentage change in price. Here, the price of broadband access increased by 10% and the quantity demanded decreased by 3.8%. This gives an elasticity of -3.8% / 10% = -0.38. Demand is considered inelastic if the absolute value is less than 1. Hence, the demand for broadband access capacity for firms is inelastic.
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The difference between the profit margin controllable by a segment manager and the segment profit margin is caused by:
variable operating expenses.
sales revenue.
fixed expenses traceable to the segment but controllable by others.
allocated common expenses.
fixed expenses controllable by the segment manager.
Answer:
The fixed expenses that can be traced to the segment but also controllable by others.
Explanation:
The answer to the question is:
The fixed expenses that can be traced to the segment but also controllable by others.
This fixed expenses controllable by others is also called a non-controllable expense for the segment manager. This is because it cannot be unilaterally determined or controlled by a department, a segment or an individual manger. It is open to external control or input from other segments.
However, the other items: Variable operating expenses, sales revenue, fixed expenses controllable by the segment manager and allocated common expenses are tracked to and controlled by the segment manager.
The difference between the profit margin controlled by a segment manager and the segment profit margin is generally due to fixed expenses tied to the segment but controlled by others. These aren't usually operating expenses, sales revenue, common expenses, or expenses controlled by the segment manager, as those are often controlled by the segment manager.
Explanation:The difference between the profit margin controllable by a segment manager and the segment profit margin is largely caused by fixed expenses that are traceable to the segment but are controlled by others. These are typically expenses that relate to the overall operation of the company, but are allocated to a specific segment. An example might be rent on a building the segment uses but doesn't control, or the salary of a higher management position that has oversight over multiple segments.
It's not typically due to variable operating expenses or sales revenue, as those are often within the control of the segment manager. Similarly, it's not usually due to allocated common expenses or fixed expenses controllable by the segment manager, as those again tend to be within the control of the segment manager.
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Inflation can impose significant costs and adversely distort economic systems. Identify whether costs and distorting, effects the menu costs, shoe leather costs or unit of account costs.
Inflation can lead to significant costs and distortions, manifesting as menu costs, shoe leather costs, and unit of account costs. Menu costs relate to the expense of frequently changing prices, shoe leather costs arise from the physical inconvenience of dealing with inflation, and unit of account costs refer to the difficulty in assessing value over time because of inflation.
Explanation:Inflation, indeed, can impose significant costs and create a distortion across economic systems. The costs and distorting effects can involve menu costs, shoe leather costs, and units of account costs.
Menu Costs: These are costs businesses incur due to changing their prices frequently in a high inflation environment. It includes actual printing costs, as well as indirect costs like customer confusion or irritation as prices fluctuate often.Shoe Leather Costs: This term is a metaphorical representation of the costs of managing cash in an environment of high inflation. The name represents the idea of shoes degrading faster (thus needing replacement) when one needs to go to the bank more often to withdraw money, as money loses value quickly.Unit of Account costs: With high inflation, it becomes difficult to assess the true value of goods and services over time, as the currency used to measure these values is continuously losing its worth. This results in decreased effectiveness of the monetary unit as a stable measure of value.Learn more about Costs and Effects of Inflation here:https://brainly.com/question/32565632
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A firm has sales of $10,000, EBIT of $3,000, depreciation of $400, and fixed assets increased by $2,000. If the firm's tax rate is 30 percent and there were no increases in net operating working capital, what is the firm's free cash flow? Multiple Choice a. $500 b. $600 c. $7400 d. $1,220
Answer:
The correct option is A,free cash flow is $500 as shown by my calculation below.
Explanation:
The formula for free cash flows to firm is given as:
FCFF=EBIT(1-t)+D&A-change in net working capital-capex
EBIT is earnings before interest and tax
D is depreciation
A is amortization
Capex is capital expenditure
FCFF=3000(1-0.30)+400-2000
FCFF=$500