Answer:
b. No
Explanation:
This is not an effective strategy for self-improvement. In this sentence, the author tells us that he believes he will be able to score 25 goals in a soccer game. This is extremely unlikely even for the best soccer players in the world. Therefore, the goal is unrealistic. By creating unrealistic or unachievable goals, we only make it more difficult for us to succeed, and the failiure that will inevitably follow can be damaging to our confidence. Therefore, when establishing goals, it is important that we are realistic.
In the context of scoring 25 goals in a soccer game, self-improvement strategies should be focused on enhancing existing skills and addressing areas of need, keeping the goal realistic. Practice, feedback, and self-reflection can aid in achieving this. The process requires patience and commitment.
Explanation:The approach of self-improvement based on individual strengths and needs involves setting realistic goals and continually assessing progress on these goals. In the context of your goal to score 25 goals in a soccer game, it is critical to evaluate this target against your current abilities and the opportunities you will have in the game. The target should be challenging but realistic.
Improvement strategies might focus on enhancing your current strengths, like speed or accuracy, and addressing areas of need, such as endurance or team coordination. These strategies can include deliberate practice, receiving feedback, and self-reflection. Whatever the strategy, remember that self-improvement is a gradual and ongoing process that requires patience and commitment.
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1. The ceteris paribus assumptions means: a. favors are returned in kind. b. this is proof of the matter. c. from many, one. d. other things are equal.
Answer:
The correct answer is letter "D": other things are equal.
Explanation:
"Ceteris paribus" is a phrase in Latin that means "other things held constant". The term is widely used in Economics mainly when talking about variables that could influence others but part of other variables remain constant allowing a phenomenon to happen. The phrase is mostly heard while applying the demand and supply law.
Answer:
d. other things are equal.
Explanation:
d is the correct answer
All of the following will cause a shift in the demand curve for oranges except ______.
A. an increase in the price of apple juice.
B. more people start drinking orange juice for breakfast.
C. a decrease in the price of oranges.
D. a new study suggest that orange juice is good for healthy bones.
E. excessive rain in northern Florida might cause supply of oranges to decrease.
Answer:
The correct answer is letter "D": a new study suggest that orange juice is good for healthy bones.
Explanation:
The demand curve represents the relationship between the price and the quantity demanded for a good or service. When the price rises, the quantity demanded falls and the demand curve shifts leftwards. If the price decreases, the quantity demanded increases and the demand curve shifts rightwards.
Thus, if a new study unveils the beneficial properties of oranges in keeping bones healthy, the reaction of consumers is uncertain. It is supposed to increase the demand for oranges but that does not necessarily need to happen.
Savallas Company is highly automated and uses computers to control manufacturing operations. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of computer-hours. The following estimates were used in preparing the predetermined overhead rate at the beginning of the year:
Computer-hours...........................................................85,000
Fixed manufacturing overhead cost.............................$1,275,000
Variable manufacturing overhead per computer-hour.....$3.00
During the year, a severe economic recession resulted in cutting back production and a buildup of inventory in the company%u2019s warehouse. The company%u2019s cost records revealed the following actual cost and operating data for the year:
Computer-hours........................................60,000
Manufacturing overhead cost..............$1,350,000
Inventories at year-end:
Raw materials..........................$400,000
Work in process.................................$160,000
Finished goods..................................$1,040,000
Cost of goods sold.................................$2,800,000
1.
Compute the company%u2019s predetermined overhead rate for the year
2. Compute the underapplied or overapplied overhead for the year.
3.
Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.
4.
Assume that the company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year. These amounts are $43,200 for work in process, $280,800 for finished goods, and $756,000 for cost of goods sold. Prepare the journal entry to show the allocation.
5.
How much higher or lower will net operating income be for the year if the underapplied or overapplied overhead is allocated rather than closed directly to cost of goods sold?
Answer:
Part 1. Compute the company%u2019s predetermined overhead rate for the year
Predetermined overhead rate = $15 / Computer Hour
Part 2. Compute the underapplied or overapplied overhead for the year.
Underapplied Overheads are: $1,350,000 - $900,000 = $450,000
Part 3. Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.
Cost of goods sold $450,000 (debit)
Overhead Account $450,000 (credit)
Part 4. Company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year:
Work In Process $18,000 (debit)
Finished Goods $73,008 (debit)
Cost of Goods Sold $315,000 (debit)
Overhead Account $450,000(credit)
Explanation:
Part 1. Compute the company%u2019s predetermined overhead rate for the year
Predetermined overhead rate = Budgeted Overheads / Budgeted Activity
= $1,275,000/ 85,000
= $15 / Computer Hour
Part 2. Compute the underapplied or overapplied overhead for the year.
Applied Overheads = Actual hours × Predetermined overhead rate
= 60,000 × $15
= $900,000
Actual Overheads = given = $1,350,000
Applied Overheads $900,000 < Actual Overheads $1,350,000, thus we have an underapplied situation
Therefore Underapplied Overheads are: $1,350,000 - $900,000 = $450,000
Part 3. Assume the company closes any underapplied or overapplied overhead directly to cost of goods sold. Prepare the appropriate journal entry.
Cost of goods sold $450,000 (debit)
Overhead Account $450,000 (credit)
Part 4. Company allocates any underapplied or overapplied overhead to work in process, finished goods, and cost of goods sold on the basis of the amount of overhead applied during the year that remains in each account at the end of the year:
Allocations:
Totals Weighted Average% Allocation
Work In Process $43,200 4% $18,000
Finished Goods $280,800 26% $73,008
Cost of Goods Sold $756,000 70% $315,000
Total $1,080,000 100% $450,000
Journals:
Work In Process $18,000 (debit)
Finished Goods $73,008 (debit)
Cost of Goods Sold $315,000 (debit)
Overhead Account $450,000(credit)
The predetermined overhead rate for the year is $15 per computer-hour. The underapplied overhead for the year is $75,000. If the underapplied overhead is allocated rather than closed directly to cost of goods sold, the net operating income will be $5,000 higher.
Explanation:To compute the company's predetermined overhead rate, divide the estimated manufacturing overhead cost by the estimated computer-hours. In this case, the predetermined overhead rate is $15 per computer-hour ($1,275,000 / 85,000 computer-hours).
The underapplied or overapplied overhead is computed by subtracting the applied overhead from the actual overhead. In this case, the underapplied overhead is $75,000 ($1,350,000 - ($15 x 60,000 computer-hours)).
If the company closes any underapplied or overapplied overhead directly to cost of goods sold, the journal entry would be:
Cost of Goods Sold 75,000
Manufacturing Overhead 75,000
If the company allocates the underapplied or overapplied overhead based on the amount of overhead applied during the year that remains in each account, the journal entry would be:
Work in Process 43,200
Finished Goods 280,800
Cost of Goods Sold 756,000
Manufacturing Overhead 80,000
If the underapplied or overapplied overhead is allocated rather than closed directly to cost of goods sold, the net operating income for the year will be $5,000 higher ($80,000 - $75,000 = $5,000).
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The following are budgeted data:
January February March
Sales in units 16,600 23,200 19,600
Production in units 19,600 20,600 19,300
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 25% of the following month's production needs. Purchases of raw materials for February would be budgeted to be:
Garrison 16e Rechecks 2017-10-03
Multiple Choice
A.20,925 pounds
B.20,575 pounds
C.20,275 pounds
D.18,325 pounds
Answer:
Purchases of raw materials for February would be budgeted to be C.20,275 pounds
Explanation:
One pound of material is required for each finished unit.
The inventory of materials at the end of February = 25% x 19,300 = 4,825 pounds
The inventory of materials at the end of January = 25% x 20,600 = 5,150 pounds
The materials used to produce finished unit in February = 20,600 pounds.
Purchases of raw materials for February = The materials used to produce finished unit in February + The inventory of materials at the end of February - The inventory of materials at the end of January = 20,600 + 4,825 - 5,150 = 20,275 pounds
Calculate the Kuznets Ratio for Bangladesh based on size distribution: The lowest 40% receives 17.3% of national income and the highest 20% receives 45.3%.
Answer:
Kuznets Ratio = 2.62
Explanation:
Kuznet Ratio = % share of income received by richest 20%
% share of income received by poorest 40%
Given : The lowest 40% receives 17.3% of national income and the highest 20% receives 45.3%.
So, Kuznets Ratio = 45.3 / 17.3
= 2.62
Zach wants to take his family on a cruise in 4 years and he estimates the cost of the cruise will be $16,500. How much money should he deposit each month into an account that pays 3.99% monthly in order to have the needed money?
Answer:
$118.83 per month that Zach must save.
Explanation:
This is a future value annuity as we know the cruise will cost $16500 in 4 years time as estimated by Zach for the cruise.
Fv is the future value for the annuity which is $16500
we also have i the interest rate which is 3.99% monthly
n is the number of periods in which the monthly amount is saved 4 x 12 =48
now we will substitute to the following formula and solve for C the monthly payments that Zach saves for the cruise:
Fv =C [((1+i)^n -1)/ i] now we substitute
$16500 = C[((1+3.99%)^48 -1)/3.99%)] then solve for C
$16500/[(1+3.99%)^48 -1)/3.99%] = C
C = $118.83 that Zach must save per month for 4 years to afford the cruise.
Raising an existing tariff on grapes from Argentina will: Group of answer choices increase domestic production of grapes. increase total American consumption of grapes. increase American consumption of domestically produced grapes. increase American imports of grapes from Argentina
Answer:
Raising an existing tariff on grapes from Argentina will increase domestic production of grapes, as well as increase American consumption of domestically produced grapes.
Explanation:
Tariffs are basically taxes established by the federal government, which are imposed on the importation of certain products produced abroad. These tariffs have the primary objective of discouraging the purchase of certain products from certain countries, either to promote local production or to limit trade with a specific country (for example, in the case of the trade war with China carried out by President Trump).
In the event that a tariff on Argentinian grapes is raised, this would increase the cost of importation, making it more viable for consumers to buy the grapes produced in the domestic market, which would boost the production of this fruit by part of the American producers, with which the market would begin to consume more quantity of grapes produced in the United States.
Raising an existing tariff on grapes from Argentina will increase domestic production of grapes, as well as increase American consumption of domestically produced grapes. The correct option is a and c.
Most countries' natural assets and capacity to produce certain products and services are limited. They trade with other countries to meet the needs and demands of their people. However, trade is not always conducted amicably between trading partners. Policies, geopolitics, competition, as well as a variety of other factors can irritate trading partners.
Tariffs are one way governments handle trading partners with whom they disagree. Tariffs are taxes levied by one country on goods and services imported to another country in order to influence it, raise revenue, or protect competitive advantages.
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James Reston offered, via letter, to sell his mountain cabin to Jennifer Olsen for $375,000. Before Jennifer could respond, Reston died suddenly. What happens with the offer? a. The offer terminated with Reston's death. b. The offer is enforceable against the estate of Reston. c. The offer remains open until Reston's estate revokes it. d. Jennifer still has the power of acceptance for a reasonable period of time after Reston's death.
Answer:
A. The offer terminated with Reston's death.
Explanation:
According to the contract law, both parties have to agree with each other in terms of opinion and contract. The contractual agreement should be either mutually written or orally bound to become legal. In that case, James only offered to sell the mountain cabin to Jennifer. Since Jennifer did not respond whether to purchase it from James or not, it could not be a contract. Therefore, the option A is correct.
The offer for the sale of the A. cabin terminated upon James Reston's death, as an offer cannot typically be enforced or remain open after the offeror is deceased.
When James Reston offered to sell his mountain cabin and then died suddenly before Jennifer Olsen could respond, the legal status of the offer becomes an important question. The general rule in contract law is that an offer is terminated when the offeror dies. This is because an offer is a personal legal obligation that cannot be enforced once the individual who made the offer is deceased.
Therefore, the correct response is that the offer terminated with Reston's death. It is not enforceable against Reston's estate, nor does it remain open for acceptance. Jennifer does not retain any power of acceptance due to the principle that an offer cannot survive the death of the offeror.
Bonds are issued on June 1 that have interest payment dates of April 1 and October 1. Bond interest expense for the year ended December 31, 2009, is for a period of:
A. Three months.
B. Four months.
C. Six months.
D. Seven months.
Answer:
D. Seven months.
Explanation:
Bond is defined as a debt instrument that shows the indebtedness big the bond issuer to the bond holder. They are units of cooperates debt issued by companies and they are tradeable. For example corporate bond and municipal bonds.
When a bond is issued on June 1 , with repayment of October 1 and April 1. The interest expense by October will be for 4 months.
However as at December 31, 2009 the accrued interest that will be recognised will be for October to December (that is for 3 months). Though it has not been paid it will be recognised at the end of the accounting period.
This gives a total of 7 months interest expense.
The bond interest expense is accounted for from the date of issuance, June 1, to the year-end, December 31, totaling six months. Answer choice C, which represents a six-month period, is the correct period for recording bond interest expense in this case.
Explanation:The question is related to the interest expense calculation for a bond for a specific period within a financial year. Given the bonds are issued on June 1 and have interest payment dates of April 1 and October 1, we have to determine the period for which the interest expense should be recorded until year-end, December 31, 2009.
As the bonds were issued on June 1, the interest calculation starts from this date. The first interest payment date after June 1 would be October 1, and the second would be the following April 1. However, since we are interested in the period ending December 31, 2009, we should only consider the payments up to this date. From June 1 to October 1 is four months. After the interest payment in October, another two months of interest accrue until December 31. Thus, the total interest expense for the period is for six months.
A. Three months.B. Four months.C. Six months. D. Seven months.The correct answer is C. Six months.
Marshall Officer is a stockholder in Endrun Investments, which is organized as a C Corporation. Endrun recently lost a major court decision and will probably be forced into bankruptcy. In fact, the damages awarded are so great that, even if all of its assets are sold and the proceeds are used to pay its debts, Endrun is likely to still owe money to its creditors.
If Endrun does go bankrupt, Marshall and the other stockholders will:
A) be personally responsible for all remaining debts.
B) lose their investment but nothing else.
C) be entitled to full reimbursement of any investment losses.
D) automatically qualify for federal reimbursement for any losses suffered by the firm.
Answer:
B) lose their investment but nothing else.
Explanation:
When a company becomes bankrupt and its assets were unable to settle it's obligations as is the case of Endrum Investments, the shareholders lose the value they had in their shares.
A C corporation is one in which the business is a seperate entity from the shareholders. The shareholders are not liable for any action taken against the company.
In this instance since the shares are the assets of the company, they will be liquidated to settle the damages awarded in court. Shareholders are not liable for the extra debt owed by the business.
A landscaping company accepts MasterCard as payment for $1,000 worth of services. MasterCard charges a service fee of 2 percent. Which of the following would be recorded by the store? Multiple Choice Debit $20 to Service Fee Expense Debit $1,000 to Cash Credit $980 to Service Revenue Credit $980 to Cash
Answer:
Dr Cash 1020
Cr Service revenue 1000
Cr Service fee 20
Explanation:
Service fee is expense of individual who is purchasing not store's expense.
- Total cash received by store is $ 1020 because 2% is service charges by master card,its is income of master card not store so store will treat as liability.
The only revenue of store is $1000.
The Burn Right company sells outdoor grills and fireplaces. It decided to focus its marketing on the single market segment of tailgaters. This allowed Burn Right to dive in deep and analyze the wants and needs of tailgaters. They discovered tailgaters’ ideal product features included quick startup, consistent heat, indication when fuel is low, a cool-to-touch handle, and easy portability. This marketing segmentation strategy Burn Right took is known as a:
A.) multisegment strategy
B.) diffused strategy
C.) concertration strategy
Answer:
c. concentration strategy
Explanation:
Concentration strategy -
It refers to the strategy in which the focus of the business is only on the single specific good or market , is referred to as the concentration strategy .
This strategy enables to concentrate most the knowledge and resources on a certain good , which is in demand or is helpful for the future profit .
The risk as well as profit margin is very high in this strategy .
Hence , from the given scenario of the question ,
The correct answer is c. concentration strategy .
Burn Right's marketing strategy is called a concentration strategy, which involves targeting a specific market segment and meeting their specific wants and needs.
Explanation:The marketing segmentation strategy that Burn Right took, which focuses on a single market segment, is known as a concentration strategy. This strategy involves targeting a specific group of customers and tailoring the company's products and marketing efforts to meet their specific wants and needs. By analyzing the wants and needs of tailgaters, Burn Right was able to identify the ideal product features and create a product that is attractive to this specific market segment.
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Crane Corp. has a gross profit margin of 30.00 percent, sales of $36,000,000, and inventory of $15,000,000. What is its inventory turnover ratio? (Round answer to 2 decimal places, e.g. 15.25.)
Answer:
Crane Corp.'s inventory turnover ratio is 1.68 times
Explanation:
Inventory turnover ratio an efficiency ratio that indicates how many times a company sells and replaces its stock of goods during a particular period
Inventory turnover ratio is calculated by using following formula:
Inventory turnover ratio = Cost of Goods Sold/Inventory
Crane Corp. has a gross profit margin of 30.00 percent.
Gross profit margin = Gross Profit/ Sales = (Sale - Cost of Goods Sold)/Sales
Cost of Goods Sold = Sales - Gross profit margin x Sales = $36,000,000 - $36,000,000 x 30% = $25,200,000
Inventory turnover ratio = $25,200,000/$15,000,000 = 1.68 times
Under which of the following conditions is job dissatisfaction less predictive of turnover?
when employees are highly educated
when employees are presented with unsolicited job offers
when employees are highly skilled
when employees consider their current jobs to be unattractive
when employment opportunities are plentiful
Answer: When employees are presented with unsolicited job offers
Explanation:
When an employee is presented with unsolicited job offers, job dissatisfaction is less predictive of turnover and this is because the employee is very likely to leave because of the lure of other jobs than their attractiveness. This can also happen because the employee perceives that it is easy to leave especially when he feels that employment opportunities are plenty and many.
Dollar General uses a cost leadership strategy. The Dollar General slogan is "Save time. Save money. Every day!®" Dollar General will be more effective if it has a mechanistic structure. Which of the following reasons explain this? Check all that apply.
-Narrow spans of management ensure that employees operate efficiently.
-Centralized decision making allows the organization to place tighter controls on the way work is done and, in the process, achieve economies of scale
Answer:
Narrow spans of management ensure that employees operate efficiently.
Centralized decision making allows the organization to place tighter controls on the way work is done and, in the process, achieve economies of scale.
Explanation: When the spans of management is narrow, proper supervising and controlling and coordination of work is done to achieve effective and efficient work done by the Employees.
A centralised decision making process helps the Organisation to have a tight control on its spendings and in the way work is done, this will help the Organisation to cut cost and take strategic decisions for organisational growth and development.
A mechanistic structure with narrow spans of management and centralized decision-making aligns well with Dollar General's cost leadership strategy, driving efficiency and economies of scale.
Explanation:Dollar General, using a cost leadership strategy, is suggested to be more effective with a mechanistic structure for several reasons. First, narrow spans of management ensure that employees operate efficiently because it simplifies supervision and communication channels, which is essential for maintaining low costs. Second, centralized decision-making allows the organization to enforce tighter controls, helping not only in achieving economies of scale but also in maintaining the uniformity and cost-effectiveness of the work being done.
Compare the way a multinational firm organizes the marketing research effort with the way a global or transnational firm approaches the organizing issue.
Answer:
Multinational firm operates in many countries and in all those countries, it organizes marketing research the same way as it has a centralized system in one head office country. Marketing research is done through a one system central approach and decisions are taken by the head office or parent.
Transnational firm operates in many states but without a central system and marketing research relates to a single unique market environment so each firm in each country has its own market research.
Explanation:
There are different ways in organizing research. The Multinational approach often adopt a very flexible way to their international services or operations through the act of;
Modifying their productsUsing strategies, andGood management practices in country by country.when compare to the Transnational approach, the is one approach that all companies loves. The aim or approach is to emerge as a companies so as to be responsive to local needs even when handling the benefits of global efficiency. It uses Translational Strategic Mentality. They aim to excel in global chess and be in charge of their game.
There are different ways in organizing research. the way a multinational firm organizes the marketing research effort are;
The firms often Locate and Define the various Issues or Problems that is before them. They do set up or design the Market Research Project. Firms Collect Data relating to the project Interpretation of the Research Data as soon as possibleThe Report Research Findings to the firm.Learn more about multinational firm from
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You are presented with an investment opportunity that will give you the following stream of cash flows: nothing for the next 3 years; at the following year, an amount of $3,000 per year until year 11; and then an amount of $6,000 per year until year 25. If your required rate of return (APR) is 11% compounded annually, what is the present value today of these cash flows?
Answer:
Present value of these cash flows are $24,580
Explanation:
Net present value is the sum of present value of all future cash inflows and outflows of a project using discounting method by a required rate of return. It measure the net value of the project's cash flows in present value term.
All the calculation and working is in the attached MS Excel file please find it.
The present value of the investment opportunity is $24,924.23, considering the given cash flow structure and an 11% annual interest rate.
To calculate the present value (PV) of the given cash flows, we need to discount each cash flow back to its present value, using the 11% annual interest rate:
Nothing for the next 3 years: PV = 0
$3,000 per year from year 4 to year 11 (8 years total):
We use the formula for the present value of an annuity: PV = C [1 - (1 + r)⁻ⁿ] / r where C = $3,000, r = 0.11, n = 8
Calculate the immediate present value of these 8 payments at year 3:
PV = 3000 [1 - (1 + 0.11)⁻⁸] / 0.11PV = 3000 [1 - 0.4342] / 0.11PV = 3000 × 5.1381PV = $15,414.30Now, discount this back to the present value at year 0:
PV = $15,414.30 / (1 + 0.11)³PV = $15,414.30 / 1.3676PV = $11,272.26$6,000 per year from year 12 to year 25 (14 years total):
We use the formula for the present value of an annuity: PV = C [1 - (1 + r)⁻ⁿ] / r where C = $6,000, r = 0.11, n = 14
Calculate the present value at year 11:
PV = 6000 [1 - (1 + 0.11)⁻¹⁴] / 0.11PV = 6000 [1 - 0.2418] / 0.11PV = 6000 × 6.8931PV = $41,358.60Now, discount this back to the present value at year 0:
PV = $41,358.60 / (1 + 0.11)¹¹PV = $41,358.60 / 3.031PV = $13,651.97Summing up these present values:
Total PV = $11,272.26 + $13,651.97 = $24,924.23
The supplies account had a beginning balance of $1,804. Supplies purchased during the period totaled $3,283. At the end of the period before adjustment, $439 of supplies was on hand. Required: Prepare the adjusting entry for supplies on December 31. Refer to the Chart of Accounts for exact wording of account titles.
Answer: The adjusting entry is:
Debit ($) Credit ($)
Supplies expenses 4,648
Supplies 4,648
Being adjustment to account for supplies expenses incurred at year end
Explanation: The supplies account is an asset account, so it has a debit balance. To arrive at the supplies expenses amount journalzed above, we have to do a movement schedule for the supplies account as follows:
Opening balance $1,804
Purchases during the period 3,283
Supplies expenses (XXX)
Balance 439
To get the value of XXX above, we do $1,804+3,283-XXX=439; using subject of the formula, XXX = $1,804+3,283-439 = $4,648.
Associated Breweries is planning to market unleaded beer. To finance the venture, it proposes to make a rights issue with a subscription price of $10. One new share can be purchased for each two shares held. The company currently has outstanding 100,000 shares priced at $40 a share. Assuming that the new money is invested to earn a fair return, give values for the following: (Do not round intermediate calculations. Enter your answers in dollars not millions.)
Associated Breweries can raise $500,000 from the proposed rights issue priced at $10 per share, given there are 100,000 shares outstanding. However, to determine the value of the rights issue and the investment in unleaded beer, it's important to consider the price point for the beer, market competition, and potential return for the investors.
Explanation:Associated Breweries is proposing a rights issue to raise funds for their new unleaded beer venture. The subscription price is $10 which means this is the price that shareholders will have to pay for the new shares. With rights issue, one new share can be purchased for each two shares held. Because there are 100,000 shares outstanding priced at $40 a share, if each shareholder bought the new shares, the company would raise $500,000. However, the new money needs to earn a fair return.
In terms of the cost of unleaded gasoline in the Bay Area, this is not relevant to this business scenario. Instead, the company would want to consider the price point for the unleaded beer, market competition, and potential return for their investors. Understanding these factors can help determine the value of their rights issue and the investment in unleaded beer.
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A sporting goods company has a distribution center that maintains inventory of fishing rods. The fishing rods have the following demand, lead time, and cost characteristics: Average demand = 100 units per day, with a standard deviation of 12 units Average lead time = 12 days with a standard deviation of 2 days 250 days per year Unit cost = $25 Desired service level = 95% Ordering cost = $50 Inventory carrying cost = 20% The basic question: How many fishing rods should the distribution center carry to provide the desired service level? There are, of course, many other specific questions, such as EOQ? Average cycle stock?
Solution:
Average demand = 100 units per day, with a standard deviation of 12 units
Average lead time = 12 days with a standard deviation of 2 days
250 days per year
unit cost = $25 , desired service level = 95% , Ordering cost = $50 , Inventory carrying cost = 20%
Lets say
Average demand = Ad
Average lead time = At
Unit cost = U
Desired service level = Dl
Ordering cost = O
Inventory carrying cost = Icc
Standard deviation =S
Thus,
S of demand at Dl = [tex]12 * 12^{\wedge} 2[/tex] = 205 units
SS = 1.65 multiply with 205 = 339 units
Total units in a day = 250 multiply with 100 = 25000
EOQ = [tex]$(2 * 25000 \text { units per year } * 50 \text { per order }) /(25 \text { per unit* } 0.2)$[/tex] = 708 units
here 25 and 0.2 is unit cost and invetory cost
TAC
annual ordering cost
O = [tex]50 * 25000 / 708[/tex] = 1765.5
Annual inventory cost
Icc = [tex]25^{*} 0.2^{*}(708 \text { units } / 2)[/tex] = 1770
Annual product cost = Pc
25 multiply with 25000 = 625000
total = O +Icc+Pc
625000+1770+1765.5 = 628535.5
If the service level increases from 95% to 99%, cost will dec per unit
What is the ROI of a project that requires investments of $500 in each of the first 3 years and yields an income of $120, $85, and $35 in each of the first 3 years?
Answer:
The ROI = 16%
Explanation:
The Return on investment or ROI is the ratio of the amount made as profit on an investment to the cost of the investment. It is the measure of the efficiency of an investment.
To calculate the ROI, we have to calculate the total benefits gotten on divide it by the total cost incurred in the investment. It is expressed in percentage
The formula is written as;
ROI = (present value of the investment - cost of the investment) ÷ cost of the investment
Remember that (present value of the investment - cost of the investment) is the benefit gotten on the amount invested;
current value of investment = $500 invested for each of the three years + $120 + $85 + $120
= $500 + $500 + $500 + $120 + $85 + $35 = $1,740
Cost of investment = $500 + $500 + $500 = ($1,500) because $500 was invested three times.
∴ ROI = (1,740 - 1500) ÷ 1500 = 240 ÷ 1500 = 0.16
converting to percentage, 0.16 = 16%.
During December, Krause Chemical Company had the following selected data concerning the manufacture of Xyzine, an industrial cleaner: Production Flow Physical Units Completed and transferred to the next department 100 Add: Ending work in process inventory 10 (40% complete as to conversion) Total units to account for 110 Less: Beginning work in process inventory 20 (60% complete as to conversion) Units started during December 90 All materials are added at the beginning of processing in this department, and conversion costs are added uniformly during the process. The beginning work in process inventory had $120 of raw materials and $180 of conversion costs incurred. Materials added during December were $540, and conversion costs of $1,484 were incurred. Krause uses the first-in, first-out (FIFO) process cost method. The equivalent units of production used to compute conversion costs for December were: a.110 units. b.104 units. c.100 units. d.92 units.
Answer:
d.92 units.
Explanation:
Completed untis +
complete portion of ending WIP less
complete portion of beginning WIP
Completed and trasnferred 100
ending work in process_ 10 units x 40% = 4 units
beginning inventory 20 units x 60% complete (12) units
Equivalent Units for conversion 92
Final answer:
To calculate the equivalent units of production for conversion costs under the FIFO method, consider only the units completed and transferred and the ending work in process inventory, leading to a total of 104 equivalent units.
Explanation:
To find the equivalent units of production for conversion costs in December under the FIFO method, let's break down the process step-by-step.
First, determine the units completed and transferred, which are 100 units; these would have been 100% completed in terms of conversion during December.Next, consider the ending work in process inventory, which is 10 units at 40% completion. This adds up to 4 equivalent units for conversion costs.The beginning inventory was 20 units at 60% completion. Since we are using the FIFO method, these units had their conversion costs from the previous period, and only the work done on the other units during December matters. This means the beginning inventory doesn’t add to December’s calculation for equivalent units regarding conversion costs.Therefore, the equivalent units of production for conversion costs are the 100 units completed and transferred plus the 4 equivalent units from the ending inventory, which totals to 104 units.The correct answer is b. 104 units.
Justin Cement Company has had the following pattern of earnings per share over the last five years: Year Earnings per Share 20X1 $ 4.00 20X2 4.24 20X3 4.49 20X4 4.76 20X5 5.05 The earnings per share have grown at a constant rate (on a rounded basis) and will continue to do so in the future. Dividends represent 40 percent of earnings.
a. Project earnings and dividends for the next year (20X6).
b. If the required rate of return (Ke) is 13 percent, what is the anticipated stock price (P0) at the beginning of 20X6?
Answer:
(a) $5.353; $2.1412
(b) $30.59
Explanation:
Given that,
Year Earnings per Share
20X1 $4.00
20X2 $4.24
20X3 $4.49
20X4 $4.76
20X5 $5.05
Dividends = 40 percent of earnings
Constant growth rate for earnings:
= [tex]\frac{EPS\ for\ any\ year}{EPS\ for\ the\ previous\ year} - 1[/tex]
= [tex]\frac{4.24}{4} - 1[/tex]
= 1.06 - 1
= 0.06 or 6%
(a) EPS for 20X6:
= EPS for 20X5 × (1 + 6%)
= $5.05 × 1.06
= $5.353
Dividend for 20X6:
= 40% × EPS for 20X6
= 40% × $5.353
= $2.1412
(b) Given that,
Required rate of return (Ke) = 13 percent
Stock Price at the beginning of 20X6:
[tex]=\frac{Dividend\ for\ 20X6}{(Required\ rate\ of\ return - Constant\ growth\ rate)}[/tex]
[tex]=\frac{2.1412}{(0.13 - 0.06)}[/tex]
= $30.59
raffle is being held at a benefit concert. The prizes are awarded as follows: 1 grand prize of $6,600.00, 3 prizes of $800.00, 3 prize of $65.00, and 10 prizes of $20.00. Suppose 14500 raffle tickets are sold, if you buy one ticket for $1.00 then what is your expected value for this raffle?
Answer:
-0.352
Explanation:
Total number of raffle tickets sold = 14,500
1 grand prize of $6,600, 3 prizes of $800, 3 prizes of $65 and 10 prizes of $20.
Therefore,
Probability of winning 1 grand prize of $6,600 = [tex]\frac{1}{14,500}[/tex]
Probability of winning 3 prizes of $800 = [tex]\frac{3}{14,500}[/tex]
Probability of winning 3 prizes of $65 = [tex]\frac{3}{14,500}[/tex]
Probability of winning 10 prizes of $20 = [tex]\frac{10}{14,500}[/tex]
Expected value:
[tex]=[(\frac{1}{14,500}\times 6,600) + (\frac{3}{14,500}\times 800) + (\frac{3}{14,500}\times 65) + (\frac{10}{14,500}\times 20)] - 1[/tex]
[tex]=(0.455+0.166+0.013+0.014)-1[/tex]
= 0.648 - 1
= -0.352
Final answer:
The expected value of purchasing one ticket in the raffle is approximately -$0.352. This value suggests an expected loss of $0.352 per ticket when considering the prize distribution and the total number of tickets sold.
Explanation:
To calculate the expected value for a raffle ticket you have purchased, we will need to consider the total value of all prizes, the number of each type of prize, the total number of tickets sold, and the cost of the raffle ticket.
The following prizes are awarded in the raffle:
1 grand prize of $6,600.00
3 prizes of $800.00
3 prizes of $65.00
10 prizes of $20.00
Total number of tickets sold: 14,500
Now, to calculate the expected value for one ticket:
Calculate the total prize money: (1 times $6600) + (3 times $800) + (3 times $65) + (10 times $20) = $6600 + $2400 + $195 + $200 = $9,395.00
Divide the total prize money by the total number of tickets to find the expected value per ticket: $9,395 / 14,500 = approximately $0.648
Subtract the cost of one ticket ($1) from the expected value per ticket to find the expected gain or loss: $0.648 - $1 = -$0.352
The expected value of one raffle ticket in this scenario is approximately -$0.352, meaning an expected loss of $0.352 per ticket.
Fern Corporation manufacturers a single product that has a selling price of $25.00 per unit. Fixed expenses total $33,000 per year, and the company must sell 5,500 units to break even. If the company has a target profit of $12,000, sales in units must be:
Answer:
7,500 units
Explanation:
Given that,
Selling price = $25 per unit
Fixed expenses = $33,000 per year
Break even units sell = 5,500 units
Target profit = $12,000
Total break- even sale in Dollar:
= Selling price × Break even units sell
= $25 × 5,500 units
= $137,500
Break- even Point = Fixed Costs ÷ Contribution Margin per Unit
Therefore,
Contribution Margin per unit:
= Fixed Costs ÷ Break-Even points
= $33,000 ÷ $137,500
= 0.24 per unit
Sales amount:
= (Fixed costs + Target profit) ÷ Contribution margin per unit
= ($33,000 + $12,000) ÷ 0.24
= $187,500
Sales in units = Sales in amount ÷ Selling price per unit
= $187,500 ÷ $25
= 7,500 units
Currently, Warren Industries can sell 20 dash year, $1 comma 000-par-value bonds paying annual interest at a 9% coupon rate. Because current market rates for similar bonds are just under 9%, Warren can sell its bonds for $980 each; Warren will incur flotation costs of $20 per bond. The firm is in the 28% tax bracket. a. Find the net proceeds from the sale of the bond, Upper N Subscript d. b. Calculate the bond's yield to maturity (YTM) to estimate the before-tax and after-tax costs of debt. c. Use the approximation formula to estimate the before-tax and after-tax costs of debt.
Answer:
a. Cash proceeds $960
b. Cost of Debt Before tax 9.4% and after tax 6.8%
c. Cost of Debt Before tax 9.39% and after tax 6.76%
Explanation:
a.
Cash proceed from the sale of bond is the net selling price and the floating cost of the bonds.
Cash proceed = Selling price - Floating cost = $980 - $20 = $960
b.
Yield to maturity is the annual rate of return that an investor receives if a bond bond is held until the maturity.
Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = [ $90 + ( $1,000 - $960 ) / 20 ] / [ ( $1,000 + $960 ) / 2 ]
Yield to maturity = 9.4%
Cost of debt before tax = 9.4%
Cost of debt after tax = 9.4% ( 1 - 0.28 ) = 6.8%
c.
Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = [ $90 + ( $1,000 - $960 ) / 20 ] / [ ( $1,000 + $960 ) / 2 ]
Yield to maturity = 9.39%
Cost of debt before tax = 9.39%
Cost of debt after tax = 9.19% ( 1 - 0.28 ) = 6.76%
The natural and organic confectionary product category is currently in the ________ stage of the product life cycle as evidenced by increasing rate of sales growth, broadened distribution, and a proliferation of organic peanut butter cup flavors.
Options:
A. growth
B. maturity
C. decline
D. introduction
Answer: A. Growth
Explanation: A product lifecycle is a term used to describe the overall steps which a product undergo before eventual withdrawal from the market.
The product lifecycle is made of the following stages
(1) Product initiation stage where the product is just being made available to the market.
(2) PRODUCT GROWTH STAGE WHERE THE PRODUCT IS EXPERIENCING EXPONENTIAL GROWTH, AND BROADENED DISTRIBUTION WITH HIGH PROFITABILITY ETC
The product stabilisation stage where the growth or development of the product is stable especially because of the introduction of several other competitors.
The the product decline stage where the product's sales is dropping and no longer profitable etc.
The following information is available for Robstown Corporation for 20Y8:
Inventories January 1 December 31
Materials $352,000 $436,200
Work in process 632,000 590,800
Finished goods 606,200 574,000
December 31
Advertising expense $295,400
Depreciation expense-office equipment 43,800
Depreciation expense-factory equipment 56,340
Direct labor 669,400
Heat, light, and power-factory 22,220
Indirect labor 77,000
Materials purchased 659,200
Office salaries expense 185,300
Property taxes-factory 18,500
Property taxes-office building 31,600
Rent expense-factory 33,000
Sales 3,015,000
Sales salaries expense 418,000
Supplies-factory 15,200
Miscellaneous costs-factory 9,700
Required:
a. Prepare the 20Y8 statement of cost of goods manufactured.
b. Prepare the 20Y8 income statement.
Answer:
1. Cost of goods manufactured = $1,672,160
2. Net income = $336,540
Explanation:
Requirement 1
Robstown Corporation
statement of cost of goods manufactured
For the year ended 20Y8
Direct Materials
Beginning materials inventory $352,000
Add: Materials purchased $659,200
Materials available for use = 1,011,200
Less: Ending materials inventory = ($436,200)
Direct materials used = 575,000
Direct labor = 669,400
Prime cost = 1,244,400
Add: Factory overhead
Depreciation expense-factory equipment $56,340
Heat, light, and power-factory 22,220
Indirect labor 77,000
Property taxes-factory 18,500
Rent expense-factory 33,000
Supplies-factory 15,200
Miscellaneous costs-factory 9,700
Total factory overhead = 231,960
Manufacturing cost = $1,476,360
Add: Work in process, January 1 = $632,000
Less: Work in process, December 31 = ($436,200)
Cost of goods manufactured = $1,672,160
Requirement 2
Robstown Corporation
Income statement
For the year ended 20Y8
Sales 3,015,000
Less: Cost of goods sold (Note - 1) ($1,704,360)
Gross profit = $1,310,640
Less: Administrative and selling expense
Advertising expense $295,400
Depreciation expense-office equipment 43,800
Office salaries expense 185,300
Property taxes-office building 31,600
Sales salaries expense 418,000
Total cost $974,100
Net income = $336,540
(Note - 1) Cost of goods manufactured + Beginning finished goods - Ending finished goods = $1,672,160 + 606,200 - 574,000 = $1,704,360.
Final answer:
The student is provided with a step-by-step calculation of the Statement of Cost of Goods Manufactured and the Income Statement for Robstown Corporation for 20Y8. Direct materials, direct labor, and manufacturing overhead were calculated to determine the total cost of goods manufactured. These figures were then used to compute the cost of goods sold and, finally, the net income after accounting for operating expenses.
Explanation:
Statement of Cost of Goods Manufactured
Direct Materials:
Beg. Inventory Materials: $352,000
+ Materials Purchased: $659,200
= Materials Available for Use: $1,011,200
- Ending Inventory Materials: $436,200
= Materials Used: $575,000
Direct Labor: $669,400
Manufacturing Overhead:
Depreciation Expense-Factory Equipment: $56,340
Heat, Light, and Power-Factory: $22,220
Indirect Labor: $77,000
Supplies-Factory: $15,200
Miscellaneous Costs-Factory: $9,700
= Total Manufacturing Overhead: $180,460
Total Manufacturing Costs:
Materials Used: $575,000
+ Direct Labor: $669,400
+ Manufacturing Overhead: $180,460
= Total Manufacturing Costs: $1,424,860
+ Beg. Work in Process: $632,000
- Ending Work in Process: $590,800
= Total Cost of Goods Manufactured: $1,466,060
Income Statement for 20Y8
Sales: $3,015,000
Cost of Goods Sold:
Beg. Finished Goods: $606,200
+ Cost of Goods Manufactured: $1,466,060
= Goods Available for Sale: $2,072,260
- Ending Finished Goods: $574,000
= Cost of Goods Sold: $1,498,260
Gross Profit: Sales - Cost of Goods Sold
= $3,015,000 - $1,498,260
= $1,516,740
Operating Expenses:
Advertising Expense: $295,400
Depreciation Expense-Office Equipment: $43,800
Office Salaries Expense: $185,300
Property Taxes-Office Building: $31,600
Rent Expense-Factory: $33,000
Sales Salaries Expense: $418,000
= Total Operating Expenses: $1,007,100
Net Income: Gross Profit - Operating Expenses
= $1,516,740 - $1,007,100
= $509,640
The following transactions are being entered into the accounting system. Using the Chart of Accounts (attached), determine the changes to the balance sheet, income statement, job cost ledger, and equipment ledger as the result of entering each of the following transactions:
a. A $4,000 invoice for concrete charged to job cost code 102.01.32300M.
b. A $23,400 invoice from a subcontractor for HVAC charged to job cost code 201.01.231 00S, 15% retention is withheld from the invoice.
c. A $1,500 bill for Office 1 rent.
d. A $2,000 of depreciation for Office 2.
e. A 120,000 bill to a client for Job 225, and the client holds 10% retention
f. The first loan payment of S2,435 for an equipment, which includes $1655.8 in principal and $779.2 9 in interest.
g. A S4,500 of depreciation for a dump truck.
h. A piece of equipment was sold for S65,000 in cash. It was purchased for $125,000 and $70,000 of depreciation has been taken. There are no outstanding loans for this equipment.
Answer:
A. Balance sheet + $4000, in WIP or finished good under inventory and + $4000 accounts payable. Income statement + $4000 on cost of sales if job is sold. Job cost ledger + $4000, Equipment ledger no effect.
B. Balance sheet + $23400 WIP, - Bank 85% of invoice, + accounts payable 15% of invoice. INCOME STATEMENT no effect, Job cost legder + 23400 on overheads, Equipment no effect
c. Balance sheet - bank $1500, Income statement +1500 expense, job costing no effect, equipment no effect.
d. Balance sheet +$2000 accumulated depreciation, Income statement +$ 2000 depreciation, Job costing no effect, Equipment no effect.
e. Balance sheet + $12000 Accounts receivables, + $108000 Bank, Income statement + $120000 sales, Job costing no effect, Equipment no effect.
f. Balance sheet -$1655.8 loan, -$2435 bank, income statement + $779.2 expenses(interest), Job costing no effect, equipment no effect.
g. Balance sheet + $4500 accumulated depreciation, Income statement +$4500 depreciation, job costing no effect, equipment no effect only truck asset.
h. Balance sheet - $55000 Equipment, +$65000 bank, Income statement + $10000 gain on sale of asset. Job costing no effect, Equipment - $55000
Explanation:
Retention by client creates an asset
retention by business creates liability
some of the figures affect some of the accounts only when a condition occurs e.g for a cost in the job costing to affect income statement it must be finished and sold so to be cost of sale.
costs incurred in production are not expenses rather are capitalized to the product and create asset either WIP, FINISHED GOOD OR MATERIAL
O. Sawyer discovered problems in coordinating the work flow going from her department to marketing. To solve the problem, she identified some situations that needed correction and asked employees to submit their suggestions for improvement. After their suggestions were summarized, the employees selected one for implementation. Next, a supervisor was given responsibility and authority to oversee implementation and to keep Sawyer informed. Sawyer's actions exhibit the ____ leadership style.
Answer: Democratic
Explanation: Democratic leadership style is the style of leadership which
gives team members the opportunity to participate in the decision making processes. This type of leader ensures that the people are allowed to feel among and it enhances their ownership culture.
THE STEPS TAKEN BY O. SAWYER IS TYPICAL OF A DEMOCRATIC LEADERSHIP WHICH INVOLVED THE TEAM MEMBERS THE OPPORTUNITY TO SUBMIT THEIR OWN SUGGESTIONS FROM WHERE THE ONE OF THE SOLUTIONS WAS GOTTEN.