Answer:
Leaders should promote the strengths of the business they are passionate about
Explanation:
Leadership refers to a process whereby an individual induces others into a desirable course of action which is directed at fulfillment of organizational goals and objectives.
Some of the basic necessary qualities a leader must possess include, confidence, honesty and integrity, leading by example, diligence etc.
The given statement points towards two leadership traits. First being creativity, whereby the leader aims to create something unique. Second being, diligence.
The statement conveys the fact that leaders should strengthen the business they belong to via creation of something worth creating from the perspective of business.
Jamie Dimon's statement emphasizes that effective leaders are motivated by their passion and desire to create something they are proud of, signifying that leaders should promote the strengths of the business that align with their passions.
According to Jamie Dimon, “Most leaders I know are working to build something of which they can be proud. They usually work hard, not because they must but because they want to do so.” Embedded in this statement is a message on leadership that highlights a leader's inner motivation driven by passion and pride, pointing directly towards the option that “Leaders should promote the strengths of the business that they are passionate about.”
This emphasis aligns with the broader understanding of leadership that involves not only guiding teams and organizations towards goals and objectives but doing so with a sense of purpose and commitment that transcends mere obligation. Leaders who are passionate about their work are more likely to inspire and motivate others, create a positive work environment, and ultimately lead their organizations to achieve greater success.
Victory Company uses weighted-average process costing to account for its production costs. Direct labor is added evenly thorughout the process. Direct materials are added at the beginning of the process. During November, the company transferred 700,00 units of product to finished goods. At the end of November, the goods in process inventory consist of 180,000 units that are 30% complete with respect to labor. Beginning inventory had $420,000 of direct materials and $139,000 of direct labor costs. The direct material cost added in November is $2,220,000, and the direct labor costs added is $3,254,000. Required: 1. Determine the equivalent units of production with respect to (a) direct labor and (b) direct materials. 2. Compute both the direct labor cost and the direct materials cost per equivalent unit. 3. Compute both direct labor cost and direct materials cost assigned to (a) units completed and transferred out and (b) ending goods in process inventory.
Answer and Explanation:
The answer is attached below
Management believes that repair cost is a mixed cost that depends on the number of machine-hours. Using the least-squares regression method, the estimates of the variable and fixed components of repair cost would be closest to:
The question is incomplete.
The management of Ferry Corporation would like you to analyze their repair costs, which are listed below: see attachment
(Options)
a. $1.08 per machine-hour plus $30, 761 per month
b. $.81 per machine-hour plus $31, 736 per month
c.$15.10 per machine-hour plus $33, 700 per month
d. $1.35 per machine-hour plus $30.170 per month
Answer:
d. $1.35 per machine-hour plus $30.170 per month
Explanation:
See attachment
Titanic Roofing Company has estimated the following amounts for its next fiscal year: Total fixed costs $ 840 comma 000 Sale price per unit 60 Variable cost per unit 30 If the company spends an additional $ 35 comma 000 on advertising, sales volume would increase by 2 comma 500 units. Before the change, the company's sales level exceeds the breakeven point. What effect will this decision have on the operating income of Titanic?
Answer:
Operating income increases by $40,000.
Explanation:
Given that,
Total fixed costs = $840,000
Sale price per unit = $60
Variable cost per unit = $30
Additional amount spend on advertising = $35,000
Sales volume would increase by 2,500 units.
Contribution margin:
= Sales - Variable costs
= $60 - $30
= $30 per unit
Increase in operating income:
= Increase in contribution margin - Increase in Fixed costs
= ($30 × 2,500 units) - $35,000
= $75,000 - $35,000
= $40,000
(7 points)
4. Suppose a store’s towel inventory is managed with a periodic review system and the vendor visits every week (reorder period = 7 days) to check the inventory and make an order. Once the order is placed, the lead time is three days. Suppose that over the reorder period plus lead time the demand for a popular item averages 80 with a standard deviation of 10. If a service level of 99% is desired and 30 units are on hand, then how many of the popular item should be ordered?
Number to order = ________
SOLUTION AND EXPLANANTION:
Let us define :Protection period” = P = Reorder period + Lead time = 7 + 3 days = 10 days
Z value for service level of 99% as per Z table= 2.33
Demand during protection period = = D = 80
Standard deviation of demand during Protection period = Sd = 10
Safety stock during protection period =[tex]Zxalue $*$ Sd $*$ Square root ( $P$ )[/tex]
[tex]2.33 * 10 * \text { square root }(10)[/tex][tex]23.3 \times 3.162=73.67[/tex]
Therefore,
Gross quantity to be ordered = Demand during protection period + Safety stock during protection period = 80 +73.67 = 153.67
However, number of items already in hand = 30 units
Hence,
Net quantity to be ordered = Gross quantity to be ordered – Number of items already in hand = 153.67 – 30 = 123.67 ( 124 rounded to nearest whole number)
A company borrowed $4,000 from the bank at an interest rate of 9%. By the end of the accounting period, the loan had been outstanding for 30 days. Demonstrate the required adjusting entry by choosing the correct statement.
Answer:
The required adjusting entry:
Debit Interest expense $30
Credit Interest payable $30
Explanation:
The company borrowed $4,000 from the bank at an interest rate of 9%.
Th amount of interest the company paid per year = $4,000 x 9% = $360
Assuming that there are 360 days per year to calculate interest. By the end of the accounting period, the loan had been outstanding for 30 days. The company recording the interest expense:
$360 x 30/360 = $30
by the adjusting entry:
Debit Interest expense $30
Credit Interest payable $30
To calculate the required adjusting entry for the company's loan, we need to use the formula: Interest Expense = Principal x Interest Rate x Time. The adjusting entry would be: Debit: Interest Expense $29.52, Credit: Interest Payable $29.52.
Explanation:The required adjusting entry for the company's loan can be calculated using the formula:
Interest Expense = Principal x Interest Rate x Time
In this case, the principal amount borrowed is $4,000, the interest rate is 9% (or 0.09 as a decimal), and the time is 30 days. However, we need to convert the time to a fraction of a year, as interest rates are typically stated on an annual basis.
To do this, we divide the number of days by the number of days in a year (365), giving us 30/365 = 0.082. Substituting these values into the formula, we get:
Interest Expense = $4,000 x 0.09 x 0.082 = $29.52
Therefore, the adjusting entry would be:
Debit: Interest Expense $29.52
Credit: Interest Payable $29.52
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A business produces 4,000 units per month which it sells at $20/unit. Costs include: $10,000 on raw materials, $15,000 in wages for operators and $10,000 in wages to sales people. If the business is just breaking even, what are its fixed costs:
Answer:
$45,000
Explanation:
In this problem, assume that the wage for operators and sales people are based on production volume and therefore computed as variable costs alongside raw materials.
If the company is breaking-even, the following relationship is true:
[tex]Revenue = Fixed\ Costs+Variable\ Costs[/tex]
At a volume of 4,000 units selling at $20 each, the fixed costs must be:
[tex]4,000*\$20=FC+(\$10,000+\$15,000+\$10,000)\\FC = \$80,000-\$35,000\\FC=\$45,000[/tex]
Fixed Costs are $45,000.
Surplus Mining Company has leased a machine from Craft Machinery Company. The annual payments are $6,000 and the life of the lease is 8 years. It is estimated that the useful life of the machine is 9 years. How would Surplus Mining record the acquisition of the machine
Answer:
The machine would be recorded as an asset, at the present value of the annual cash payments, $6,000 for 8 years
Explanation:
Surplus mining company is leasing the machine at the rate of $6,000 annual payment. So the acquisition of the machine will be recorded as an asset and it will reflect for the 8 years it was leased for in the books of Surplus mining.
The annual cash payments will be considered when this entry is being recorded, and it will be at the present value of annual cash payments of the $6,000 for 8 years.
Read the following sentence, and determine which technique is most applicable to improve its readability.
Please follow these steps when filling out an expense report: begin by writing your name, date, and position; record the exact expense amount; and obtain your supervisor’s signature.
A. Using numbered or bulleted lists
B. Using graphic techniques
C. Developing parallelism for balance
Answer:
The correct option is A. Using numbered or bulleted lists.
Explanation:
EXPLANATION
A. Using numbered or bulleted lists
Use numbered lists when you're explaining instructions that need to be performed in sequence. In situations where numbers are not essential use bullets, especially in business related documents
Bulleted lists are used to make items stand out from the text without implying order of importance. They may include punctuation marks like commas and semicolons
This is the correct answer, use of numbered list. We were told in the question to follow a particular order to fill out an expense report. You begin by writing your name and end by obtaining the supervisor’s signature
B. Using graphic techniques
Graphics are visual elements that can be used to point readers and viewers to a particular information. Graphic techniques are visually engaging in order to attract and inform a large audience. Diagrams and graphs can help learners comprehend abstract concepts using visual language to depict meaning. For instance, in diagrams the connecting lines between elements help learners understand relationships. Bar graphs make it easy to compare data; line graphs help learners understand trends
This option is wrong. The expense report is not a new concept
C. Developing parallelism for balance
Parallelism in literature is the repetition of a word or phrase within a sentence or group of sentences. It is used to help organize ideas, but also to make the ideas memorable.
This option is also wrong
Final answer:
The most applicable technique to improve the readability of the expense report instructions is A. using numbered or bulleted lists, which helps to emphasize key points and make the information easier to follow.
Explanation:
To improve the readability of the sentence, 'Please follow these steps when filling out an expense report: begin by writing your name, date, and position; record the exact expense amount; and obtain your supervisor’s signature.' the technique most applicable is using numbered or bulleted lists. This method enhances clarity and organization, making the information easier to follow for the reader.
Numbered or bulleted lists help to emphasize key points and break up blocks of text, ensuring that each step in the process is clearly identifiable and follows a logical order. When you enumerate the steps, readers can process the content with less cognitive strain, thereby improving comprehension and the likelihood of correct execution of listed tasks.
he following labor standards have been established for a particular product: Standard labor-hours per unit of output 9.0 hours Standard labor rate $ 15.10 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,100 hours Actual total labor cost $ 119,880 Actual output 800 units What is the labor rate variance for the month? Group of answer choices
Answer:
Direct labor rate variance= $2,430 favorable.
Explanation:
Giving the following information:
Standard labor rate $ 15.10 per hour
Actual hours worked 8,100 hours
Actual total labor cost $ 119,880
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Actual rate= 119,880/8,100= $14.8
Direct labor rate variance= (15.1 - 14.8)*8,100= $2,430 favorable.
It is favorable because the actual rate for direct labor was lower than the estimated rate.
An incentive conflict is when a. The agent and the principal have identical incentives b. The agent has different incentives than does the principal c. The agent and the principal neither have any incentives to work hard d. None of the above
Answer:
The correct answer is letter "B": The agent has different incentives than does the principal.
Explanation:
Incentive conflicts more often called principal-agent problems arise when a principal (stakeholder) hires an agent (manager) to handle businesses on behalf of the principal but the principal's interest is different from the agent's purpose.
Agents are paid for following the principal's instructions but in most cases, when it comes to decision-making, the point of view of the agent differs from the position of the principal. The principal's point of view is typically self-biased.
Final answer:
An incentive conflict happens when the agent's incentives differ from the principal's, creating a divergence in their goals and interests.
Explanation:
An incentive conflict occurs when the agent has different incentives than does the principal, leading to a divergence in goals between the two parties. For instance, employees may waste time on personal activities during work hours, or attorneys may avoid settling a case promptly to generate more fees, both of which demonstrate the agent acting against the principal's best interests. This misalignment of incentives is a core issue in agency theory, where the principal-agent problem is a part of economic studies regarding contracts and incentive structures designed to align the agent's actions with the principal's goals.
According to Herzberg, when ________ are adequate, people won't be dissatisfied, but they will also not be satisfied. motivational factors hygiene factors power needs affiliation needs achievement needs
Final answer:
Herzberg's theory identifies hygiene factors as elements that can prevent dissatisfaction when they're adequate but do not contribute to job satisfaction or motivation.
Explanation:
According to Herzberg, when hygiene factors are adequate, people won't be dissatisfied, but they will also not be satisfied. Hygiene factors include aspects such as the working conditions, salary, company policies, and interpersonal relations. These factors can prevent dissatisfaction if they are adequate, but they do not contribute to satisfaction or motivation in the same way that motivational factors do. Motivational factors, also known as growth factors, are elements such as achievement, recognition, and the work itself, which can truly drive an employee to perform better and result in job satisfaction.
On May 15, Monique Company purchased $40,000 of merchandise from the Terrell Company, with terms of 1/10, n/30. On May 17, Monique paid $310 to Swift Trucking Company for freight on the shipment. On May 20, Monique Company returned $800 of merchandise for credit. Final payment was made to Terrell on May 24. Monique Company records purchases using the perpetual inventory system.
Required: Prepare the journal entries that Monique Company should make on May 15, 17, 20, and 24.
Answer:
May-15. Dr Merchandise inventory 40000
Cr Accounts payable 40000
( To record purchase of inventory)
May-17. Dr Merchandise inventory 310
Cash 310
(To record payment of freight of shipment)
May-20. Dr Accounts payable 800
Cr Merchandise inventory 800
( To record purchase return of inventory)
May-24. Dr Accounts payable (40000-800) 39200
Cr Cash 39200
( To record payment in full of inventory purchase)
9. Do you believe it is possible for a global company to simultaneously achieve the goals of global efficiency and integration, national responsiveness and flexibility, and the worldwide transfer of knowledge and innovation? Discuss.
Explanation:
Let us understand the term, "Global Company".
Any company which is known for its business world-wide is termed as "Global company".
The given statement in the question is true. Yes a global company can achieve everything listed.
Since the company is efficient, they can start business all over the world.
Definitely the can span across the world, only by first satisfying the need of the nation.
Surely they will be known for innovation, because the 21st century needs innovation and a company can be popular only if it shows innovating ability.
All the given achievement is possible to get fulfilled.
Final answer:
A global company can strive to achieve multiple goals, including efficiency and ethical conduct, with the implementation of a universally enforced ethics code being one aspect of such an endeavor. Balancing global standards with local cultural norms and values is a challenge, but managing a workforce with diverse ethical views through an inclusive environment is crucial. Globalization's impact is debated, but respect for local contexts is essential.
Explanation:
Global Company Goals and Ethical Codes
The question of whether a global company can achieve global efficiency and integration, respond effectively to national markets, and facilitate the transfer of knowledge and innovation is nuanced. It requires balancing the complex dynamics of international business practices, differing cultural values, and rapidly evolving global markets.
Business ethics and corporate social responsibility are crucial in this context. An ethics code provides a foundation for uniform conduct, which supports global efficiency. Moreover, such a code is essential not only to maintain a positive corporate image but also to ensure adherence to international laws and respect for human rights. However, enforcing this code globally can be challenging due to varied cultural norms and ethical standards. To manage a diverse workforce, organizations must foster an inclusive environment that respects these differences while upholding core ethical standards.
The debate surrounding globalization's impact often touches on whether it fosters a better world. While globalization can lead to increased efficiency and knowledge transfer, it must be tempered by sensitivity to local contexts. Globalization theories suggest that traditional cultures may either adapt to, resist, or integrate with global economic forces. The integration of a global ethics code, understanding of local customs, and the promotion of fair knowledge transfer practices can thus be components of a successful global corporate strategy.
In 2009, a computer manufacturer had a labor productivity of 3.33 units per labor hour. In 2010, the computer manufacturer had a labor productivity of 4.27 units per labor hour. The percent change in labor productivity is:
Answer:
The percent change in labor productivity is 22%
Explanation:
Listing out the parameters given:
labor productivity (2009) = 3.33 units/hr,
labor productivity (2010) = 4.27 units/hr
To calculate the percent change in labor productivity, we have it thu:
percent change in labor productivity = [labor productivity (2010) - labor productivity (2009)] ÷ labor productivity (2010)
Let's assume 'Labor productivity' = LP
%Δ in LP = [tex]\frac{LP _2_0_1_0 - LP _2_0_0_9}{LP _2_0_1_0}[/tex] * 100% =[tex]\frac{4.27 - 3.33}{4.27}[/tex] * 100%
%Δ in LP = [tex]\frac{0.94}{4.27}[/tex] * 100% = 22%
%Δ in LP = 22%
This shows an increase in computer manufacturing from 2009 to 2010 by 22%
Answer:
percentage change in labor productivity = 28.23%
Explanation:
In 2009 the computer manufacturer had a labor productivity of 3.33 units per labor hour. In 2010 the productivity increased to 4.27 units per labor hour.
The percentage change in labor productivity can be calculated as
change in labor productivity = New labor productivity - Old labor productivity
percentage change in labor productivity = change in labor productivity/old labor productivity × 100
Old labor productivity = 3.33 unit
New labor productivity = 4.27 unit
change in labor productivity = 4.27 - 3.33 = 0.94
percentage change in labor productivity = 0.94/3.33 × 100
percentage change in labor productivity = 94/3.33
percentage change in labor productivity = 28.2282282282
percentage change in labor productivity = 28.23%
While it may not be possible to make the receiver happy when you deliver bad news, you can reduce bad feelings by structuring your message in a sensitive way. Most negative messages take an indirect approach, using a buffer, providing reasons, delivering the bad news with empathy, and closing pleasantly.What buffering technique are you using if you show in your opening that you care and are concerned?A. Best newsB. UnderstandingC. FactsWhen are readers more open to hearing bad news?A. When it may benefit them or someone elseB. When senders make promises they may or may not be able to fulfillC. When no one benefitsRead each scenario, and then answer the corresponding question.You recently interviewed a candidate for a position in your sales department. However, another candidate was more qualified. You want to soften the bad news of rejection for the candidate.What techniques should you use to cushion the bad news? Check all that apply.A. Say whatever makes you appear as the "good guy."B. Invite further correspondence.C. Close with good wishes.D. Buffer the opening.You left work on Thursday evening and forgot to turn in a report that was due that day to your manager. You decide you need to compose an apology.What should you do when composing the message? Check all that apply.A. Ignore the feelings of the receiver.B. Accept responsibility for the mistake.C. Avoid suggesting a remedy.D. Apologize with sincerity.A customer recently wrote your bakery a letter complaining that the cherry scones were too crumbly and dry. Although the customer already ate all the scones, he is demanding a full refund. Your company does not honor refunds on food that has been consumed.What could you include in the closing of your response to restore confidence? Check all that apply.A. A defensive remarkB. A freebie or promotional discountC. A statement of company policy regarding refundsD. An alternative productConsider the following scenario and bad-news message, and then answer the questions.Hubert is an administrative assistant for a classic car company specializing in Ford Mustangs. The manager of the shop asks him to proofread a message she is going to send to all employees.Date: May 10To: All EmployeesFrom: Kate White, President, Classic Car Restoration Inc.Subject: Three Shelby MustangsYou all have to work overtime next week because we must have the three 1965 Shelby Mustangs ready for one of our best clients.We have to make sure to use all original engine parts and to add a top-of-the-line clear coat on each car. Additionally, the client included the original radios for each car, so we have to install those, too.I apologize for any inconvenience, but, unfortunately, I am unwilling to make exceptions to this request. I promise you all that your bonus checks will be bigger at the end of the year!What critique can Hubert make of the body of the letter?A. It reveals confidential reasons for the bad news.B. It fails to reveal reader benefits.C. It provides no explanation.What error should he identify in the closing of the letter?A. It makes a promise that might be difficult to keep.B. It offers good wishes.C. It invites further correspondence.
Final answer:
The buffering technique that shows care and concern in the opening is 'Understanding'. Readers are more open to hearing bad news when it may benefit them or someone else. Techniques to cushion the bad news of rejection include inviting further correspondence and closing with good wishes. When composing an apology, it is important to accept responsibility and apologize sincerely. In responding to a customer complaint, you can include a statement of company policy regarding refunds and offer an alternative product. Hubert can critique the body of the letter for failing to reveal reader benefits and identify the error in the closing as making a promise that might be difficult to keep.
Explanation:
The buffering technique that shows care and concern in the opening is B. Understanding. By demonstrating that you understand the situation and the emotions involved, you can help soften the impact of delivering bad news.
Readers are more open to hearing bad news when it may benefit them or someone else, so the correct answer is A. When it may benefit them or someone else.
To cushion the bad news of rejection for a candidate, you should use the following techniques: B. Invite further correspondence and C. Close with good wishes. By offering the opportunity for further communication and expressing well-wishes, you can help soften the blow of the rejection.
When composing an apology message for forgetting to turn in a report, you should: B. Accept responsibility for the mistake and D. Apologize with sincerity. Taking responsibility for the mistake and offering a sincere apology can help demonstrate accountability and show that you regret the oversight.
In the closing of your response to the customer complaint, you should include C. A statement of company policy regarding refunds and D. An alternative product. Informing the customer of the company's refund policy and offering an alternative product can help restore confidence and show that you value their feedback.
The critique Hubert can make of the body of the letter is that it B. Fails to reveal reader benefits. By not providing any explanation of how the request may benefit the employees, the letter fails to address their concerns or interests.
The error Hubert should identify in the closing of the letter is that it A. Makes a promise that might be difficult to keep. Making a promise about bonus checks without concrete details or guarantees can create false expectations and disappoint employees.
Suppose a binding price floor on sparkling wine is proposed by the Health Minister of the country of Vinyardia. What will be the likely effect on the market for sparkling wine in Vinyardia?
Answer:
The correct answer is letter "A": Quantity demanded will decrease, quantity supplied will increase, and a surplus will result.
Explanation:
Price floors are limits the government sets so prices for certain goods or services cannot be lowered than a given amount. They are established to protect the income of providers. The most common example of a price floor is the labor minimum wage.
In the example, setting a price floor on sparkling wine represents wine will not be cheaper than a set price. Low-income individuals who will not be able to afford the price at its new level will stop purchasing wine which decreases the quantity demanded. On the other hand, wine producers will be encouraged to bottle more wine in an attempt to increase their profits, increasing the quantity supplied.
Eventually, the increasing quantity supplied but decreasing quantity demand will generate a surplus.
Final answer:
A binding price floor on sparkling wine in Vinyardia is likely to create a surplus, as the quantity supplied will exceed the quantity demanded. This policy may also lead to black markets and increased government expenditure due to surplus purchases. Alternatives such as subsidies or quotas might be more effective and avoid these negatives.
Explanation:
Effects of a Binding Price Floor on Sparkling Wine
A binding price floor on sparkling wine in Vinyardia is likely to result in several market distortions. Since the price floor is a minimum price set above the equilibrium price, it will lead to a surplus of sparkling wine: the quantity supplied will exceed the quantity demanded. Producers might increase production because of the higher price, but consumers will purchase less due to the higher cost compared to the equilibrium price.
In the context of Vinyardia's sparkling wine market, the price floor could also lead to unintended consequences such as the emergence of black markets, where wine could be sold illegally at lower prices. Additionally, the government might need to purchase the surplus to support the minimum price, leading to increased costs and potential wastage of resources. Financial constraints on consumers might also result in reduced wine consumption overall.
Alternative Policies
Alternative approaches to a price floor for fish, which could be similarly applicable for sparkling wine, might include direct subsidies to producers for maintaining traditional practices, investment in marketing to enhance demand, or implementing quotas to prevent over-supply. These alternatives could potentially avoid the negative consequences of a price floor while still supporting the producers.
Perth Corporation has two operating divisions, a casino and a hotel. The two divisions meet the requirements for segment disclosures. Before transactions between the two divisions are considered, revenues and costs are as follows:
Casino Hotel
Revenues $80,000,000 $ 55,000,000
Costs 45,000,000 40,000,000
The casino and the hotel have a joint marketing arrangement by which the hotel gives coupons redeemable at casino slot machines and the casino gives discount coupons good for stays at the hotel. The value of the coupons for the slot machines redeemed during the past year totaled $12,000,000. The discount coupons redeemed at the hotel totaled $5,000,000. As of the end of the year, all coupons for the current year expired.
Required (please show work) :
What are the operating profits for each division (Casino & hotel) considering the effects of the costs arising from the joint marketing agreement?
Answer:
Explanation:
casino hotel
Revenue $80,000 $55,000
Coupons $12,000 $5,000
Total revenue $92,000.00 $60,000
Less:
Costs $45,000 $40,000
Transfer price $5,000 $12,000
Total costs $50,000 $52,000
Operating profit before tax $42,000 $8,000
Analyzing and Computing Accrued Wages Liability and Expense
Demski Company pays its employees on the 1st and 15th of each month. It is March 31 and Demski is preparing financial statements for this quarter. Its employees have earned $32,000 since the 15th of March and have not yet been paid. How will Demski’s balance sheet and income statement reflect the accrual of wages on March 31? Indicate the effect on the balance sheet and income statement accounts if Demski failed to make this accural (overstated or understated).
Decrease/Increase wages payable by $______ on the balance sheet.
Decrease/Increase wages expense by $______ on the income sheet.
Answer:
Decrease wages payable by $32,000 on the balance sheet.
Decrease wages expense by $32,000 on the income sheet.
Explanation:
Wages Expense accrued entry effects the expenses and liabilities as this expenses not been paid yet. Failing to record this adjusting entry the Expenses on the income statement will be understated and Income statement is reporting overstated profit because expenses are deducted from the income. On the other hand as employee are not been paid so there is a liability which business need to pay in future. Failing to record this too the Liability of Wages payable is understated and Balance sheet is reporting a lower liability of wages payable. So both wages payable and Wages Expenses are decreased due to omission of this adjusting transactions.
Your broker called earlier today and offered you the opportunity to invest in a security. As a friend, she suggested that you compare the current, or present value, cost of the security and the discounted value of its expected future cash flows before deciding whether or not to invest. The decision rule that should be used to decide whether or not to invest should be:
Answer:
Everything else being equal, you should invest if the discounted value of the security's expected future cash flows is greater than or equal to the current cost of the security.
Explanation:
You would use the capital budgeting technique known as net present value (NPV) . In order for a project or investment to be accepted, the sum of the present values of future cash inflows generated by the project should be greater than the initial amount invested or the initial cost. If the PV of the future cashflows is lower than the initial cost of capital, the investment would be rejected. On the other hand, if they are equal, the investor would be indifferent between accepting or rejecting the investment.
Record the following transactions of Fronke’s Fashions in a general journal assuming that they use the periodic system.
DATE TRANSACTIONS
2013
April 1 Purchased merchandise for cash, $1,280.
2 Returned merchandise for cash purchased on April 1; received a cash refund of $115.
4
Purchased merchandise on credit from Ramos Distributors, Invoice 125, $668, terms n/30; freight of $43 prepaid by Ramos and added to the invoice.
7
Returned damaged merchandise purchased on April 4 from Ramos Distributors; received Credit Memorandum 202 for $50.
30
Paid the amount due to Ramos Distributors for the purchase of April 4, less the return on April 7, Check 1458.
2.
Record the following transactions of J. Min Designs in a general journal assuming that they use the periodic system.
DATE TRANSACTIONS
2013
April 1
Purchased merchandise on credit from O’Rourke Fabricators, Invoice 885, $2,200, terms 2/10, n/30; freight of $44 added paid by O’Rourke Fabricators and added to the invoice (total invoice amount, $2,244).
9
Paid amount due to O’Rourke Fabricators for the purchase of April 1, less the 2 percent discount, Check 457.
15
Purchased merchandise on credit from Kroll Company, Invoice 145, $1,350, terms 2/10, n/30; freight of $85 prepaid by Kroll and added to the invoice.
17
Returned damaged merchandise purchased on April 15 from Kroll Company; received Credit Memorandum 332 for $50.
24
Paid the amount due to Kroll Company for the purchase of April 15, less the return on April 17, taking the 2 percent discount, Check 470.
Explanation:
The Journal entry is given below:-
1. Purchase Dr, $1,280
To cash $1,280
(being merchandise is purchased)
2. Cash Dr, $115
To Purchase return $115
(Being merchandise is returned)
3. Purchase Dr, $668
Freight In Dr, $43
To Account payable $771
(being Purchase on credit)
4. Account payable $50
To Purchase return $50
(Being purchase return is recorded)
5. Account payable $661
To cash $661
(Being cash is paid)
Blogging on a regular basis represents an enormous opportunity for growth and a far-reaching presence. Check all that apply How do organizations utilize blogs? Check all that apply. To build brands Viral marketing To attract a vast audience To conduct group performance evaluations For crisis communications
Answer: All the options given are correct. The answer is further explained below.
Explanation:
A blog is an online website that gives information about a particular product it activity. Blogging is vital for organizational growth and development as organizations can build their brands through blogs. Viral marketing is when consumers give information about products online. This is useful as organizations can use the information given to assess the product and seek improvement.
Blogging also allow companies reach a large number of people, can be used to assess performance and also relate with customers when there are certain issues.
Therefore, all the options given are right.
Revenue at a major smartphone manufacturer was $2.2 billion for the nine months ending March 2, up 87 percent over revenues for the same period last year. Management attributes the increase in revenues to a 129 percent increase in shipments, despite a 16 percent drop in the average blended selling price of its line of phones.Given this information, is it surprising that the company’s revenue increased when it decreased the average selling price of its phones?
Answer:
No
Explanation:
Based on this information, it is not surprising that the company's revenue increased when the average selling price of its phones decreased. Based on the information provided in this passage, the demand for this product is elastic. This means that a reduction in price would most likely increase revenue. We can see that although the price of the phones decreased, there was an increase of 129% in shipments.
Despite the company decreasing the average selling price of its phones, the company's revenue increased due to a significant increase in shipments. This is an example of volume-driven revenue growth.
Explanation:The subject of this question pertains to the business concept of volume-driven revenue growth. Even though the company dropped the average selling price of its phones by 16%, it was still able to increase its revenue by 87%. This is because they increased their shipments by 129%. Imagine if they only sold 100 phones at $100 each last year, that's a revenue of $10,000. But this year, they've dropped the price to $84 (16% reduction) but sold 229 phones (129% increase). The revenue this year would be $19,236 which is an 87% increase despite the price drop. The key learning is that a decrease in price does not necessarily mean a decrease in revenue, especially if the drop in price led to an increase in the number of units sold, or in other words, volume-driven revenue growth.
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A hospital dietitian prepares breakfast menus every morning for the hospital patients. Part of the dietitian’s responsibility is
to make sure that minimum daily requirements for vitamins A and B are met. At the same time, the cost of the menus must
be kept as low as possible. The main breakfast staples providing vitamins A and B are eggs, bacon, and cereal. The vitamin
requirements and vitamin contributions for each staple follow:
Vitamin Contributions
Vitaminmg/Egg mg/Bacon Stripmg/Cereal CupMinimum Daily Requirements
A 2 4 1 16
B 3 2 1 12
An egg costs $0.04, a bacon strip costs $0.03, and a cup of cereal costs $0.02. The dietitian wants to know how much of
each staple to serve per order to meet the minimum daily vitamin requirements while minimizing total cost.
a. Formulate a linear programming model for this problem.
b. Solve the model by using the computer.
Answer:
2 eggs, 3 bacon strips, no cereal for a minimum cost of $0.17
Explanation:
Optimization
We are required to find the optimum values for each staple to serve per order of breakfast to reduce the cost at a minimum while meeting the minimum daily vitamin requirements.
Each staple contributes in different amounts to the daily vitamin requirements. One egg costs $0.04 and provides 2 units of vitamin A and 3 of vitamin B
One bacon costs $0.03 strip provides 4 units of vitamin A and 2 of vitamin B
One cup of cereal costs $0.02 provides 1 unit of vitamin A and 1 of vitamin B
Let's assume we serve x eggs, y bacon strips and z cups of cereal per breakfast unit. The total contribution to vitamin A is 2x+4y+z and it must be not less than 16, thus
[tex]2x+4y+z \geq 16[/tex]
The total contribution to vitamin B is 3x+2y+z and it must be not less than 12, thus
[tex]3x+2y+z \geq 12[/tex]
The total cost is
[tex]C=0.04x+0.03y+0.02z[/tex]
a. The linear programming model for this problem is
Minimize
[tex]C=0.04x+0.03y+0.02z[/tex]
Subject to
[tex]2x+4y+z \geq 16[/tex]
[tex]3x+2y+z \geq 12[/tex]
[tex]x \geq0,\ y\geq 0,\ z\geq 0[/tex]
b. We used Excel's solver to find the optimum solution for x, y, and z as follows
x=2 eggs, y=3 bacon strips and z=0 cups of cereal, which produce the minimum cost
C=$0.17
Linear programming model is given by [tex]2x+4y+z\geq 16[/tex] and [tex]3x+2y+z\geq 12[/tex] and the value of (x = 2), (y = 3), and (z = 0). The total cost is $0.17 and this can be determined by using the given data.
Given :
A hospital dietitian prepares breakfast menus every morning for the hospital patients.Part of the dietitian’s responsibility is to make sure that minimum daily requirements for vitamins A and B are met.The main breakfast staples providing vitamins A and B are eggs, bacon, and cereal.An egg costs $0.04, a bacon strip costs $0.03, and a cup of cereal costs $0.02.Let the total number of eggs be 'a', the total number of bacon strips be 'b', and the total number of cereal be 'c'.
The total contribution to vitamin A is given by:
[tex]2x+4y+z\geq 16[/tex]
The total contribution to vitamin B is given by:
[tex]3x+2y+z\geq 12[/tex]
The total cost is given by:
C = 0.04x + 0.03x + 0.02z
b) by using the excel solver in order to find the values of x, y, and z.
x = 2 eggs
y = 3 bacon strip
z = 0 cups of cereals
So, the value of C is:
C = $0.17
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https://brainly.com/question/21835898
Sunbird Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Sunbird Theatre Inc. has declared the following annual dividends over a six-year period:
2011, $20,000; 2012, $36,000; 2013, $70,000; 2014, $90,000; 2015, $102,000 and 2016, $150,000.
During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 100,000 shares of cumulative, preferred 1% stock, $30 par, and 400,000 shares of common stock, $20 par.
Required:
Calculate the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears on January 1, 2011. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".
Answer:
See the explanation below.
Explanation:
1. Calculation of total dividend for six years (2011 to 2016)
Total dividend = 2011 dividend + 2012 dividend + 2013 dividend + 2014 dividend + 2015 dividend + 2016 dividend
Total dividend = $20,000 + $36,000 + $70,000 + $90,000 + $102,000 + $150,000
Total dividend = $468,000
2. Calculation of per-share dividends declared on each class of stock for each of the six years
Note that preferred stock holders are entitled to dividend first before the common stock holders. It is what remains after paying the preferred shareholders that the common shareholders get. Therefore, the calculation is done as follows:
2011:
Preferred dividend per share = Preferred dividend rate × Preferred stock price
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Expected total preferred dividend = $0.30 × 100,000 = $30,000
Actual dividend declared = $20,000
Preferred dividend declared per share = $20,000 ÷ 100,000 = $0.20
Preferred dividend arrears (Cumulative) = $30,000 - $20,000 = $10,000
Preferred dividend per share arrears (Cumulative) = $10,000 ÷ 100,000 = $0.10
Since preferred stock holders are entitled to dividend first before the common stock holders and the dividend declared is lower than the dividend payable to the preferred shareholders, the common stockholders will receive zero dividend in 2011.
Also, since it is stated in the question that the preferred 1% stock is cumulative
2012:
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Expected total preferred dividend = $0.30 × 100,000 = $30,000
Total dividend declared = $36,000
Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30
To pay preferred dividend in arrears = $36,000 - $30,000 = $6,000
Preferred dividend arrears per share paid = $6,000 ÷ 100,000 = $0.06
Balance of preferred dividend arrears = $10,000 - $6,000 = $4,000
Balance of preferred dividend per share arrears = $4,000 ÷ 100,000 = $0.04.
Total preferred dividend paid in 2012 = $36,000
Preferred dividend per share paid in 2012 = $36,000 ÷ 100,000 = 0.36
Again for the same reason as stated above, the common stockholders will also receive zero dividend in 2012.
2013:
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Expected total preferred dividend = $0.30 × 100,000 = $30,000
Total dividend declared = $70,000
Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30
To pay preferred dividend arrears = $4,000
Preferred dividend arrears per share paid = $4,000 ÷ 100,000 = $0.04
Common stock dividend = $70,000 - $34,000 = $36,000
Common stock dividend per share = $36,000 ÷ 400,000 = $0.09.
2014:
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Actual total preferred dividend = $0.30 × 100,000 = $30,000
Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30
Total dividend declared = $90,000
Common stock dividend = $90,000 - $30,000 = $60,000
Common stock dividend per share = $60,000 ÷ 400,000 = $0.15.
2014:
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Actual total preferred dividend = $0.30 × 100,000 = $30,000
Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30
Total dividend declared = $102,000
Common stock dividend = $102,000 - $30,000 = $72,000
Common stock dividend per share = $72,000 ÷ 400,000 = $0.18.
2015:
Expected preferred dividend per share = 1% × $30 = 0.30 per share
Expected total preferred dividend = Expected preferred dividend per share × Number proffered share
Actual total preferred dividend = $0.30 × 100,000 = $30,000
Preferred dividend declared per share = $30,000 ÷ 100,000 = $0.30
Total dividend declared = $150,000
Common stock dividend = $150,000 - $30,000 = $130,000
Common stock dividend per share = $130,000 ÷ 400,000 = $0.33.
Total dividends and per-share dividends for cumulative preferred stock and common stock over six years:
2011: Cumulative preferred stock: $10,000 total, $0.10 per share; Common stock: $10,000 total, $0.025 per share2012: Cumulative preferred stock: $18,000 total, $0.18 per share; Common stock: $18,000 total, $0.045 per share2013: Cumulative preferred stock: $35,000 total, $0.35 per share; Common stock: $35,000 total, $0.0875 per share2014: Cumulative preferred stock: $45,000 total, $0.45 per share; Common stock: $45,000 total, $0.1125 per share2015: Cumulative preferred stock: $51,000 total, $0.51 per share; Common stock: $51,000 total, $0.1275 per share2016: Cumulative preferred stock: $75,000 total, $0.75 per share; Common stock: $75,000 total, $0.1875 per shareIn October 2014 you purchase 100 euros of bonds in France that pay a 4.25% coupon every year. If the bond matures in 2018 and the YTM is 0.15%, what is the value of the bond?
Answer:
The value of the bond is 116.34 Euros
Explanation:
The price of a bond is the present value of all cash flows generated by the bond (i.e. coupons and face value) discounted at the required rate of return
The Bond is a Security that obligates the issuer to make specified payments to the bondholder. .
A Coupon is The interest payments made to the bondholder.
The Coupon rate is theAnnual interest payment, as a percentage of face value.
PV= cpn + cpn + ....... + (cpn+par)
(1+r)∧1 (1+r)∧2 (1+r)∧t
PV= 4.25 + 4.25 + 4.25 + 104.25
(1.0015)∧1 (1.0015)∧2 (1.0015)∧3 (1.0015)∧4
PV= 116.34 Euros
On January 1, 2019, Grouper Corporation granted 10,800 options to key executives. Each option allows the executive to purchase one share of Grouper’s $5 par value common stock at a price of $20 per share. The options were exercisable within a 2-year period beginning January 1, 2021, if the grantee is still employed by the company at the time of the exercise. On the grant date, Grouper’s stock was trading at $26 per share, and a fair value option-pricing model determines total compensation to be $431,000. On May 1, 2021, 7,440 options were exercised when the market price of Culver’s stock was $30 per share. The remaining options lapsed in 2020 because executives decided not to exercise their options.
Required:
Prepare the necessary journal entries related to the stock option plan for the years 2019 through 2021.
Answer:
Explanation:
01-01-2019 no entry
31-12-2019
Dr Compensation expense ($431,000/2) $215,500
Cr Paid in capital - Stock options $215,500
31-12-2020
Dr Compensation expense ($431,000/2) $215,500
Cr Paid in capital - Stock options $215,500
31-12-2021
Dr Cash (7,440*$20) $148,800
Dr Paid in capital - Stock options (431,000*(7,440/10,800)) $296,911
Cr Common stock (7440*$5) $37,200
Cr Paid in capital - in excess of par $408,511
01-01-2021
Dr Paid in capital - Stock option (431,000-296,911) 134,089
Cr Paid in capital from expired stock 134,089
Real estate salespersons can lose their licenses for: Group of answer choices
All of the other answers
Not showing buyers all available properties in an area
Using aggressive sale techniques
Commingling escrow (trust) money with personal funds
Answer:Commingling escrow (trust) money with personal funds.
Explanation: Commingling of funds is the bringing together of two or more funds from different source in such a way that the owner of the funds can not properly determine how much is his or her own.
COMMINGLING OF FUNDS BELONGING TO THE PRINCIPAL WITH PERSONAL FUNDS IS PUNISHABLE UNDER THE UNITED STATES OF AMERICA CONSTITUTION AND CAN LEAD TO REVOCATION OF THE LICENSE OF AREAL ESTATE SALES PERSON.
other options are permissible like the use of aggressive sales techniques(extraordinary actions like creating artificial urgency,thinking like a marketer etc),not showing buyers all the available properties in a given area is not punishable as there are various reasons that can lead to such.
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activities Units Acquired at Cost Units Sold at Retail
Mar. 1 Beginning inventory 200 units @ $53.00 per unit
Mar. 5 Purchase 275 units @ $58.00 per unit
Mar. 9 Sales 360 units @ $88.00 per unit
Mar. 18 Purchase 135 units @ $63.00 per unit
Mar. 25 Purchase 250 units @ $65.00 per unit
Mar. 29 Sales 230 units @ $98.00 per unit
Totals 860 units 590 units
Compute the cost assigned to ending inventory using (a)FIFO, (b)LIFO, (c)weighted average, and (d)specific identification. For specific identification, the March 9 sale consisted of 115 units from beginning inventory and 245 units from the March 5 purchase; the March 29 sale consisted of 95 units from the March 18 purchase and135 units from the March 25 purchase.
Answer:
(a) FIFO cost $ 17,510.00 includes 20 units @ $63.00 per unit and 250 units @ $ 65.00 per unit.
(b) LIFO cost $ 15,900.00 includes 115 units @ $53.00 per unit, 135 units @ $63.00 per unit and 20 units @ $65.00 per unit.
(c) Weighted average cost $ 16,838.76 includes 270 units @ $62.37 per unit.
(d) Specific identification cost $ 16,240.00 includes 85 units @ 53.00 per unit, 30 units @ 58.00 per unit, 40 units @ 63.00 per unit and 115 units @65.00 per unit.
In a perpetual inventory system, the cost of ending inventory can be calculated using methods like FIFO, LIFO, weighted average, or specific identification.
Explanation:In a perpetual inventory system, the cost of ending inventory can be calculated using different methods such as FIFO (first-in, first-out), LIFO (last-in, first-out), weighted average, or specific identification.
FIFO: Under FIFO, the cost assigned to ending inventory would be calculated by assuming that the units sold first were from the beginning inventory, followed by the units purchased on March 5, then March 18, and finally March 25. Therefore, the cost of ending inventory can be calculated by multiplying the remaining units from March 25 by the cost per unit ($65.00).
LIFO: Under LIFO, the cost assigned to ending inventory would be calculated by assuming that the units sold first were from the most recent purchases, followed by the purchase on March 18, March 5, and finally the beginning inventory. Therefore, the cost of ending inventory can be calculated by multiplying the remaining units from the beginning inventory by the cost per unit ($53.00).
Weighted Average: Under weighted average, the cost assigned to ending inventory is calculated by taking the average cost per unit of all purchases made during the period. The total cost of all purchases is divided by the total number of units acquired to determine the average cost per unit. This average cost per unit is then multiplied by the remaining units in the ending inventory.
Specific Identification: Under specific identification, the cost of each individual unit is identified and tracked separately. Therefore, the cost assigned to ending inventory would be calculated by multiplying the remaining units from each specific purchase by their respective cost per unit and then summing up these costs.
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On January 1, 2017, Grouper Corporation sold a building that cost $257,510 and that had accumulated depreciation of $102,150 on the date of sale. Grouper received as consideration a $247,510 non-interest-bearing note due on January 1, 2020. There was no established exchange price for the building, and the note had no ready market. The prevailing rate of interest for a note of this type on January 1, 2017, was 9%. At what amount should the gain from the sale of the building be reported
Answer:
Gain from the sale of the building be reported = $35,763.13
Explanation:
Book Value of Building in sweet Corporation = Cost of the Building - Accumulated depreciation
=$257,510 - $102,150
=$155,360
Consideration receivable on January 1,2017 = $247,510
Present value factor for 3 years at 9% = 1/(1+0.09)³ =0.77218
Present value of consideration receivable = $247,510 X 0.77218 =$191,123.13
Gain from sale of Building be reported = Present value of consideration - Book value of asset
=$191,123.13 - $155,360 =$35,763.13
Employees who use the flextime option have to ________. work from the office for three days of the week work from home on a relatively permanent basis work from the office during the common core period and put in the extra hours per their convenience work from the office based on a schedule fixed with the compatible partner they function with work from home only two days a week
Answer:
Work from the office during the common core period and put in the extra hours per their convenience
Explanation:
Employees who are entitled for the flextime can work and align their work-life balance as per their conscience. For example, they can work less hours in one week and they can balance this time shortage by working more and extra hours in the coming weeks. They are very much open in varying their working hours. As all other employees are needed to work in the designated time but the employees working under this facility, besides working the core hours has the option to use and put their extra hours in the time sheet as per their conscience. It has been seen often that the employee working under flextime are more productive and creative as compared to the other employees.