Answer:
D
Explanation:
According to an article published on modernhealthcare.com on Feb-2019, around 33% of total health care spending goes to hospital care. 33% calculates as to one-third of total health care spending portion.
U.S. ocean shipping companies are benefitting from United States government subsidies.
True or False?
Answer: True
Explanation:
This enables the Maritime Administration to help promote the national economy. The subsidies being an indirect trade restriction.
Jerry is feeling very stressed because his boss expects a project to be delivered to the client within a very unreasonable deadline. Jerry has to work nights and weekends to make the deadline. Jerry is feelingstress due to a(n) ________ factor.
A) environmental
B) organizational
C) economic
D) structural
E) personals
Answer:
The correct answer is letter "B": organizational.
Explanation:
Stress because of organizational factors refers to all those produced as the result of labor activities. Tight deadlines, an overload of duties, low promotion opportunities, insufficient budgets are typical causes why employees could get on their nerves within the work-frame.
Jerry's stress is due to organizational factors related to his job's role demands and tight deadlines. Autonomy and job control are known to alleviate such stress. Personality types, such as Type A, can also influence how stress is experienced and managed.
Jerry is feeling stress due to an organizational factor. The stress is coming from his job and the role demands that expect him to deliver work under a very tight deadline, causing him to work nights and weekends. This situation is categorized as an organizational behavior issue where role demands and the lack of control over one's environment contribute significantly to stress levels. According to studies, individuals who have more autonomy at work and feel a greater sense of control tend to manage stress more effectively. Furthermore, the stress Jerry experiences may be exacerbated if he displays a Type A personality characterized by high levels of speed/impatience and job involvement. To mitigate such stress, organizations can build autonomy and support into jobs.
What are the two primary organizations in the United States that are responsible for setting standards related to the preparation of accounting information?
Answer: SEC –Securities and Exchange Commission and FASB –Financial Accounting Standards Board.
Explanation: The two primary organizations are SEC –Securities and Exchange Commission and FASB –Financial Accounting Standards Board.
FASB is a private, non-profit organization standard-setting body whose primary purpose is to establish and improve Generally Accepted Accounting Principles (GAAP) within the United States. It was formed in 1973 to succeed the Accounting Principles Board and carry on its mission.
While the U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The Securities and Exchange Commission (SEC) recognizes the FASB as the accounting standard setter for public companies. It is also recognized by state accounting boards, the American Institute of Certified Public Accountants (AICPA), and other organizations in the field.
The two primary organizations in the United States responsible for setting accounting standards are FASB for the private sector and GASB for governmental entities.
The two primary organizations in the United States responsible for setting accounting standards are the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB).
FASB is responsible for establishing generally accepted accounting principles (GAAP) for public and private companies, ensuring consistency and transparency in financial reporting.
It plays a crucial role in maintaining the integrity and reliability of financial statements for businesses.
GASB, on the other hand, focuses on setting accounting standards for state and local governments and governmental entities.
It ensures that financial reporting in the public sector is transparent, consistent, and useful for decision-makers, promoting accountability and responsible fiscal management.
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Booker Corporation had the following comparative current assets and current liabilities: Dec. 31, 2017 Dec. 31, 2016 Current assets Cash $60,000 $30,000 Short-term investments 40,000 10,000 Accounts receivable 55,000 95,000 Inventory 110,000 90,000 Prepaid expenses 35,000 20,000 Total current assets $300,000 $245,000 Current liabilities Accounts payable $140,000 $110,000 Salaries payable 40,000 30,000 Income tax payable 20,000 15,000 Total current liabilities $200,000 $155,000 During 2017, credit sales and cost of goods sold were $750,000 and $400,000, respectively. Compute the following liquidity measures for 2017: (Round current and acid-test ratios to 2 decimal places, e.g. 52.71.) 1. Current ratio :1 2. Working capital $ 3. Acid-test ratio :1 4. Accounts receivable turnover times 5. Inventory turnover times
Answer:
Liquidity measures for the year 2017 are as under:
Current Ratio = 1.5
Working Capital = $100,000
Acid Test Ratio = 0.95
Accounts Receivables Turnover = 10 times
Inventory turn over = 4 times
Explanation:
Current Ratio
Current Ratio = Current Assets ÷ Current Liabilities
Dec 31, 2017 Dec 31, 2016
$300,000 ÷ $200,000 $245,000 ÷ $155,000
Current Ratio 1.5 1.6
Working Capital
Working Capital = Current Assets – Current Liabilities
Dec 31, 2017 Dec 31, 2016
$300,000 – $200,000 $245,000 – $155,000
Working Capital $100,000 $90,000
Acid Test Ratio
Acid Test Ratio = (Current Assets – Inventory) ÷ Current Liabilities
Dec 31, 2017 Dec 31, 2016
($300,000 – $110,000) ÷ $200,000 ($245,000 – $90,000) ÷ $155,000
Acid Test Ratio 0.95 1.00
Accounts Receivables Turnover Times
Accounts Receivables Turnover = Credit Sales ÷ Average Accounts Receivables
Average Accounts Receivables = (Opening Accounts Receivables + Closing Accounts Receivables) ÷ 2
Average Accounts Receivables = ($55,000 + $95,000) ÷ 2 = $75,000
Accounts Receivables Turnover = $750,000 ÷ $75,000 = 10 Times
Inventory Turnover Times
Inventory Turnover = Cost of Goods Sold ÷ Average Inventory
Average Inventory = (Opening Inventory + Closing Inventory) ÷ 2
Average Inventory = ($110,000 + $90,000) ÷ 2 = $100,000
Inventory Turnover = $400,000 ÷ $100,000 = 4 Times
Liquidity can be defined as the company’s capability of raising the cash in the required times.
Current ratio has been the liquidity ratio that has been the liquidity ability of the year. Current ratio can be given by:Current ratio = [tex]\rm \dfrac{current\;assests}{current\;liabilities}[/tex]
Current ratio for Dec. 31, 2017 = [tex]\rm \dfrac{300,000}{200,000}[/tex]
Current ratio for Dec. 31, 2017 = 1.5
Current ratio for Dec. 31, 2016 = [tex]\rm \dfrac{245,000}{155,000}[/tex]
Current ratio for Dec. 31, 2016 = 1.6
Working capital can be given by:Working Capital = Current Assets – Current Liabilities
Working capital for Dec. 31, 2017 = $300,000 – $200,000
Working capital for Dec. 31, 2017 = $100,000
Working capital for Dec. 31, 2016 = $245,000 – $155,000
Working capital for Dec. 31, 2016 = $90,000
Acid-test ratio can be given as:
Acid-test ratio = [tex]\rm \dfrac{Current\;Assets\; -\;Inventory}{Current\;Liabilities}[/tex]
Acid-test ratio for Dec. 31, 2017 = [tex]\rm \dfrac{(300,000\;-\; 110,000}{200,000}[/tex]
Acid-test ratio for Dec. 31, 2017 = 0.95
Acid-test ratio for Dec. 31, 2016 = [tex]\rm \dfrac{(245,000\;-\; 90,000}{155,000}[/tex]
Acid-test ratio for Dec. 31, 2016 = 1.00
Accounts Receivables Turnover can be given by:
Accounts Receivables Turnover = [tex]\rm \dfrac{Credit\;sales}{Average\;accounts\;receivable}[/tex]
Accounts Receivables Turnover for Dec. 31, 2017 = [tex]\rm \dfrac{750,000}{75,000}[/tex]
Accounts Receivables Turnover for Dec. 31, 2017 = 10 times
Inventory turnover times can be given by:
Inventory turnover times = [tex]\rm \dfrac{cost\;sold}{average\;inventory}[/tex]
Inventory turnover times = [tex]\rm \dfrac{400,000}{100,000}[/tex]
Inventory turnover times = 4 times.
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The main reason that a firm would strive to reduce the number of days sales outstanding is to increase is?
Answer:
Cash flow
Explanation:
Days sales outstanding (DSO) is the average number of days (from the day sales were made) it takes for an entity to collect cash from credit or receivable customers. It is a financial ratio that is used generally to measure
how an entity is able to manage its account receivable and improve cash flow. The formula for the calculation of DSO is:
(Accounts Receivable / Net Credit Sales) x 365
Apart from the lost of interest on deposit associated with high DSO, entities will enjoy the advantage of increase cash flow when they are able to drive down their days sales outstanding (DSO)
A company would aim to reduce the number of days sales outstanding (DSO) to improve its cash flow. The DSO represents the average time it takes for a firm to get paid after a sale has been made. The quicker a company can collect its payments, the better its cash flow.
Explanation:The primary reason a firm would work to decrease the number of days sales outstanding (DSO) is to improve cash flow. The DSO refers to the average time it takes for a company to collect payment after a sale has been made, operationalizing businesses' credit and collection policies.
A high DSO could indicate poor cash management or problematic customers difficulties in paying on time. By reducing the DSO, companies can get their money quicker, enhancing financial performance and stability through improved cash flow.
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Why would an insurer perform more rigorous underwriting on a term insurance applicant than a whole-life insurance applicant?
Answer:
Please see the answer below
Explanation:
As the rigorous of underwriting is depending on the types of insurance for the applicant who opt for it. Also depend on the sum assured and distribution process by the insurance company. In Term insurance if the sum insured is too high it is strictly underwritten than the whole life insurance because the risk taken by the insurer is high in term insurance. If underwriting is not strict, there are chances for anti selection in which policy holder use information for his own benefit choice. Risk to the insurer always rise with the sum insured. Application which contains high sum insured tend to be underwritten more rigorously.
ltems from the income statement, statement of retained earnings, and balance sheet are listed below in alphabetical order. For the companies shown in each column, solve for the missing amounts.
Weil Inc. Simon Inc. Kealy Corp.
Common Stock $10 $19 $18
Dividends 0 0 2
Net Income 15 10 12
Retained Earnings, Beginning of Year 20 21 27
Retained Earnings, End of Year 35 31 _____
Total Assets 73 63 _____
Total Expenses 52 21 34
Total Liabilities 28 13 14
Total Revenues 67 31 46
To solve for missing amounts in financial statements, formulas and equations associated with each statement need to be applied.
To solve for the missing amounts in the income statement, statement of retained earnings, and balance sheet, we need to apply the formulas and equations associated with each financial statement. For example, to find the missing retained earnings for Kealy Corp, we can use the formula:
Retained Earnings, End of Year = Retained Earnings, Beginning of Year + Net Income - Dividends.
Therefore, the missing retained earnings for Kealy Corp is 31. To solve for the missing total assets, we can use the formula:
Total Assets = Total Liabilities + Stockholders' Equity. Therefore, the missing total assets for Weil Inc. is 38.
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Which of the following refers to a clause in a contract that identifies the state law that will apply to any disputes that arise under the contract
forum selection clause.
escalator clause.
omnibus clause.
reserve clause.
Answer:
Forum selection clause
Explanation:
Forum selection clause is a provision that is usually a part of all written contractual agreement that are commercial in nature. It aims to indicate where a litigation of a dispute relating to a written contract can be carried out. Therefore, the courts of a specific jurisdiction saddled with the responsibility of hearing and settling a dispute is indicated by the clause.
Choosing between a state court in particular state and another one in another states can allow be allowed by the forum selection when it is permissive.
Briefly describe the function of legislatures and the main difficulties they may experience in carrying out these functions. Could those difficulties be overcome by structural changes.
Answer:
The main function of the legislatures is to make laws and establish guidelines and other statutes that would establish peaceful co-existence among the peoples.
Explanation:
The main difficulties often experienced by legislatures when carrying out their functions are numerous, beginning with public criticism both positively and negatively, down to the diffferences that may arise in terms of reaching a consensus on any particular bill proposed by a legislator to the House.
Also, the idea of incompetency cannot be overlooked because some members of the House of legislature when assigned to a specific and unique functions are sometimes unable to deliver results as expected by the House and the people who elected them to this function.
Structural changes is one means to this challenges, if it is so necessary. As cited in the instance above, an incompetent legislator or committee should be reviewed, reenacted and competency implied in the appoint to such functions. By so doing,the functions of the legislature will experience less challenges and difficulties.
Answer: The changes in the constitution
Explanation:
The legislature is the second arms of government in a democracy. It is made up of men and women of integrity who had been elected by the people to represent their constituencies in the parliament. The functions of legislature ranges from making law for the good governance of the nation, serve as check and balances to the other arms of government, perform an oversight functions on the executive, approval of annual budget, approval of nomination of executive, impeachment of the executive for allegation of misconduct and so on. In carrying out these functions they face the following difficulties
Parliamentary autonomy : Apart from the parliament of most of the developed countries, the parliament of the developing countries of the world still face the problems of parliamentary autonomy. In most of these countries the executive still exercise some form of control on the parliament in areas such as the financial autonomy most of them still run to the executive to get funds for their activities. Also they cannot recall their members whenever the need arise.
Personnel : The parliament in most of the developing countries apart from the developed countries lack the expert staff who are well trained to provide support to members in the performance of their legislative duties to members of their constituencies.
Resources : The parliament in most of these countries also lack the resources needed to perform their legislative duties effectively. They lack the resources such as library and information communication technology needed to facilitate their legislative duties effectively. In addition , there is no enough office facilities for individual members of the parliament which stands as an obstacle in the performance of their legislative duties.
However, these difficulties can be overcome by structural changes which simply means change in the way they performed most of their functions as well as changes in the system to enable them performed better. Most of these difficulties had their root cause in the lack of parliamentary autonomy which emanate from the defect in their constitution . With a view to overcome these difficulties, there is need for the amendment of the constitution in a such a way that it will guarantee the legislature autonomy particularly in the areas of financial autonomy such that their funds will come from the first line charge that is from the consolidated revenue fund, so that the parliament will no longer be going to the executive to asked for funds to perform their legislative duties, because as the saying goes he who plays the piper dictate the tune.
As soon as the issue of financial autonomy is sorted out, they will be able to organize a capacity building programs for their staff, bring in expert from the various field such as the academia to enhanced their legislative duties, provide themselves with the necessary resources such as the building of library and information communication technology, as well as the provisions of office facilities to individual members of the parliament to enhance their legislative duties.
Which of the following methods of employee evaluation is best used when employees are heavily involved in teamwork? Critical incident technique. 360-degree performance appraisal. Behaviorally anchored rating scales (BARS). Attribution method.
Answer:
The correct answer is letter "B": 360-degree performance appraisal.
Explanation:
A 360-degree performance appraisal is an employee-evaluation approach in which the coworkers, subordinates, supervisors, and the same employees provide a rating of their performance. This type of activity allows employees' performance to be tracked after different intervals and requires the collaboration and interaction of all the individuals possible within the organization.
All of the contributions were to qualified charitable organizations. When Kell computes the maximumallowable deduction for contributions, what percentage of contribution base income should Kelluse?A. 50%B. 30%C. 10%D. 5%
The percentage of base income that Kell should use is 10 percentage
Explanation:
There are some factors that must be considered while calculating the base income the contribution that is used for deduction the then the dividend amount that is received after deduction
The net operating loss that is carried back and then the capital loss carry back is also calculated and they are calculated in percentage and the final amount is given
Debra Company began operations on June 1. The following transactions took place in June: a. Purchases of merchandise on account were $1,200,000. b. The cost of freight to receive the inventory was $40,000. This was paid in cash. c. Debra returned $20,000 of the merchandise due to an ordering error. Debra received a full credit for the return. d. Debra paid the remaining balance for the merchandise. Calculate the dollar amount that Debra will have in inventory at the end of the month. Assume Debra uses the perpetual inventory system and there were no sales.
Final answer:
Debra's ending inventory amount, calculated using the given inventory transactions and assuming no sales occurred, is $1,220,000 for the month of June.
Explanation:
We are going to calculate the ending inventory amount for Debra Company using the following inventory transactions:
Purchases of merchandise on account: $1,200,000.Freight costs: $40,000 (paid in cash).Return of merchandise: $20,000 (full credit received).Payment for the merchandise after the return.The calculation proceeds as follows:
Begin with the initial purchases: $1,200,000.Add freight costs, since they are part of inventory cost: $1,200,000 + $40,000 = $1,240,000.Subtract the cost of goods returned: $1,240,000 - $20,000 = $1,220,000.The ending inventory will be $1,220,000, assuming there were no other transactions affecting inventory and Debra uses the perpetual inventory system with no sales taking place.
Debra will have $1,220,000 in inventory at the end of the month, considering the purchases, freight cost, and merchandise return.
To calculate the dollar amount that Debra will have in inventory at the end of the month, we need to consider the net effect of the transactions on inventory.
1. Purchases of merchandise on account: $1,200,000 increases inventory.
2. Cost of freight: $40,000 increases inventory.
3. Return of merchandise: $20,000 decreases inventory.
4. Payment for merchandise: The remaining balance of purchases increases inventory.
Net effect on inventory: (Purchases + Freight) - Return
[tex]\[ \text{Net inventory} = (1,200,000 + 40,000) - 20,000 \][/tex]
[tex]\[ \text{Net inventory} = 1,240,000 - 20,000 \][/tex]
[tex]\[ \text{Net inventory} = 1,220,000 \][/tex]
Therefore, Debra will have $1,220,000 in inventory at the end of the month.
According to the _____, people strive to justify their behavior by reducing the degree to which their beliefs or impressions are inconsistent with reality. A. cognitive theory of satisfactionB. stimulus-response theoryC. equity theoryD.theory of cognitive dissonanceE. expectancy theory
The theory of cognitive dissonance explains that people experience psychological discomfort when they hold conflicting beliefs and behaviors, and they try to reduce this discomfort by justifying their actions.
According to the theory of cognitive dissonance, people strive to justify their behavior by reducing the degree to which their beliefs or impressions are inconsistent with reality. The concept was introduced by psychologist Leon Festinger in 1957 and addresses the psychological discomfort that arises from holding two or more inconsistent attitudes, behaviors, or cognitions. For instance, if someone believes that smoking is harmful but continues to smoke, they are likely to experience cognitive dissonance due to the conflict between their belief and their behavior.
Explain how to determine the maximum amount of money a company is willing to pay for a a consultant that can be predict the future (the location of the new airport) in the Magnolia Inn example.
Final answer:
To determine the maximum amount a company is willing to pay for a consultant who can predict the future, they need to consider the potential benefits and returns they can gain from this information.
Explanation:
To determine the maximum amount of money a company is willing to pay for a consultant who can predict the future, such as the location of a new airport in the Magnolia Inn example, the company needs to consider the potential benefits and returns they can gain from this information. They would assess how much money they could make or save by having this information, such as attracting more customers, optimizing routes, or avoiding costly mistakes.
The maximum amount they would be willing to pay would be the amount that is less than or equal to the expected financial gain or cost savings they can achieve through the consultant's predictions. For example, if the company estimates that knowing the future location of the new airport will enable them to generate an additional $1 million in revenue or cost savings, they may be willing to pay up to $1 million for a consultant who can accurately predict the location.
Indicate whether the item is on the balance sheet or the income statement. If it is on the balance sheet, designate which category. (lf there is no category, select "None" from the drop down menu.) Item Income Statement/ Balance Sheet Category Accounts receivable Retained earnings Income tax expense Accrued expenses Cash Selling and administrative expenses Plant and equipment Operating expenses Marketable securities Interest expense Sales Notes payable (6 months) Bonds payable, maturity 20 years Common stock Depreciation expense Inventories Capital in excess of par value Net income earnings after taxes)
Answer:
Explanation:
The categorization is presented below:
Item Income Statement/ Balance Sheet Category
Accounts receivable Balance sheet Current assets
Retained earnings Balance sheet Shareholder equity
Income tax expense Income statement Expense
Accrued expenses Balance sheet Current liabilities
Cash Balance sheet Current assets
Selling and administrative expenses Income statement Expense
Plant and equipment Balance sheet Fixed assets
Operating expenses Income statement Expense
Marketable securities Balance sheet Current assets
Interest expense Income statement Expense
Sales Income statement Revenue
Notes payable (6 months) Balance sheet Current liabilities
Bonds payable, maturity 20 years Balance sheet Long term liabilities
Common stock Balance sheet Shareholder equity
Depreciation expense Income statement Expense
Inventories Balance sheet Current assets
Capital in excess of par value Balance sheet Shareholder equity
Net income earnings after taxes) Income statement None
Final answer:
Explanation of whether items belong to the balance sheet or income statement, along with their respective categories.
Explanation:
Accounts receivable: Balance Sheet - Current Assets
Retained earnings: Balance Sheet - Equity
Income tax expense: Income Statement
Accrued expenses: Balance Sheet - Current Liabilities
Cash: Balance Sheet - Current Assets
Selling and administrative expenses: Income Statement - Operating Expenses
Plant and equipment: Balance Sheet - Fixed Assets
Operating expenses: Income Statement
Marketable securities: Balance Sheet - Current Assets
Interest expense: Income Statement
Sales: Income Statement
Notes payable (6 months): Balance Sheet - Current Liabilities
Bonds payable, maturity 20 years: Balance Sheet - Long-Term Liabilities
Common stock: Balance Sheet - Equity
Depreciation expense: Income Statement
Inventories: Balance Sheet - Current Assets
Capital in excess of par value: Balance Sheet - Equity
Net income: Income Statement - Earnings after Taxes
Which of the following concepts is not consistent with the classical perspective on management?
a. Employees may choose not to follow orders.
b. Superiors may have as many subordinates as possible within the superior’s span of control.
c. Each subordinate should only have one superior.
d. The hierarchy of authority should be precisely defined.
Answer: The correct answer is "a. Employees may choose not to follow orders.".
Explanation: The statement "Employees may choose not to follow orders." is not consistent with the lassical perspective on management
One of the principles of the classic management perspective is: Discipline: Establishes that employees must act with obedience, dedication, energy, behavior and respect for established norms.
Therefore, employees must necessarily follow orders.
The characteristic that is demonstrated when a high degree of consensus can be secured among independent measurers using the same measurement methods is
Answer:
Verifiability
Explanation:
A high degree of consensus is the common result of a discussion. The consensus is the best possible result to achieve within a specific period. Verifiability is a characteristic that can help to gain a consensus using the same measurement method. The verifiability helps to ease the process of measurement, and it helps to gain effective and efficient results.
The characteristic is reliability, which refers to the consistency of a measurement.
Explanation:The characteristic that is demonstrated when a high degree of consensus can be secured among independent measurers using the same measurement methods is reliability. Reliability refers to the consistency or stability of a measurement. It is an important aspect of measurement in fields such as statistics, psychology, and social sciences.
For example, if different researchers use the same measurement scale to assess the same variable and consistently obtain similar results, it indicates a high degree of reliability. This suggests that the measurement tool is reliable and can be used to gather consistent and accurate data.
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Missing amount from an account
On August 1, the supplies account balance was $1,025. During August, supplies of $3,110 were purchased, and $1,324 of supplies were on hand as of August 31. Determine supplies expense for August.
Final answer:
The supplies expense for August is calculated by adding the purchases to the initial balance and subtracting the ending balance. The result is a supplies expense of $2,811 for the month of August.
Explanation:
To determine the supplies expense for August, we'll use the following information: the initial supplies account balance, the amount spent on purchases during the month, and the value of supplies on hand at the end of the month.
Starting supplies balance on August 1: $1,025.
Add purchases of supplies during August: $3,110.
Deduct supplies on hand as of August 31: $1,324.
The balance that remains is the supplies expense for August.
We calculate the expense as follows:
Initial Balance + Purchases - Ending Balance
$1,025 + $3,110 - $1,324
$4,135 - $1,324
Supplies Expense = $2,811
Therefore, the supplies expense for August is $2,811.
The primary objective of the corporate management team is to maximize shareholder wealth. The company's board of directors and the shareholders evaluate and review managerial actions based on the growth in the value of the firm.
Based on your understanding of what determines a firm's value, review the following:
What does the value of a firm depend on?
Option A The ability to generate cash flow that is available to distribute to the company's investors, including creditors and stockholders
Option B The ability to generate cash flow that is available to distribute to the company's stockholders only
Which of the options is most accurate?
When determining the value of a firm, which of the following statements is true?
-A financial asset is considered to have value only if it is acquired at its market value.
-A financial asset is considered to have value only if it has the ability to generate positive cash flows.
-A financial asset is considered to have value only if it is acquired at its book price.
Explanation:
When we see the objective given in the question, the company is really interested to make positive cash flows and make the shareholders to get back good results. By looking at the goal, Option A stands right.
An asset value is determined only by the market. For example, if you have an flat for sale, the rate of flat is determined only by the market. So considering this example Option 1 matches for the second question.
An investment will pay you $120 in one year and $200 in two years. If the interest rate is 4%, what is the present value of these cash flows?
Answer:
Present value= $300.29
Explanation:
Giving the following information:
An investment will pay $120 in one year and $200 in two years. The interest rate is 4%.
To calculate the present value we need to use the following formula:
PV= FV/(1+i)^n
PV= present value
FV= final value
i= interest rate
n= number of years
PV1= 120/1.04^1= 115.38
PV2= 200/1.04^2= 184.91
Present value= $300.29
The present value of the $120 payment due in one year and the $200 payment due in two years, given a 4% interest rate, is approximately $300.
Explanation:The present value of future cash flows can be calculated by using the present value formula. The formula is:
PV = FV / (1 + r)^n
Where PV is the present value, FV is the future value, r is the interest rate, and n is the number of periods.
For the first payment, FV is $120, r is 0.04 (4%), and n is 1. So, the present value of the first payment is:
PV = $120 / (1 + 0.04)^1 = $115.38
For the second payment, FV is $200, r is 0.04 (4%), and n is 2. So, the present value of the second payment is:
PV = $200 / (1 + 0.04)^2 = $184.62
Therefore, the total present value of these cash flows is $115.38 + $184.62 = $300.
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Culture makes organizations feel different from one another. Different companies, even companies in the same industry, just do things differently. You can experience this for yourself by going to two local supermarkets—one a part of a large chain and the other locally owned. Look around you and answer the followig questions.
1. Does someone offer to help you when you walk in the door?
2. Do the employees seem happier at one location compared to the other?
3. Do people wear uniforms at one place but not at the other?
Please
Answer:
1. Yes whenever I walk into the supermarket chains sales representatives asks to help.
2. Yes the employees at supermarket chains seemed to be happier.
3. Yes people do wear uniforms at supermarket chains.
Explanation:
1. Normally supermarket chains have many sales representatives and help desk staff who are ready to help us, whenever we visit there as compared to locally owned supermarkets where staff is nearly less than 10 employees.
2. Employees at supermarket chains look happier than the locally owned supermarket mainly because of their pay difference, job security and work environment satisfaction.
3. Staff do wear proper uniforms at the supermarket chain to look different and easily accessible for the customers whereas at locally owned supermarket there is rarely staff wearing uniforms.
The question relates to the differences in culture between two local supermarkets, specifically focusing on customer service, employee satisfaction, and dress code.
Explanation:The subject of this question is Business. The question asks about the differences in culture between two local supermarkets. Culture refers to the shared beliefs, values, norms, and behaviors that exist within an organization. In this case, the culture of the two supermarkets can be observed through factors such as customer service, employee satisfaction, and dress code.
1. The presence or absence of someone offering to help when a customer walks in the door can indicate a difference in the customer service culture between the two supermarkets. A large chain supermarket might have well-defined procedures in place for greeting customers, while a locally owned supermarket might have a more informal approach.
2. The happiness of employees can reflect the organizational culture at each supermarket. If employees at one location seem happier than the other, it may be a result of factors such as work environment, management style, or employee benefits.
3. The presence of employee uniforms at one place but not the other can also provide insight into the cultural differences. Employees wearing uniforms can indicate a more formal approach to the job, while a lack of uniforms may suggest a more relaxed or informal atmosphere.
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During May, Bergan Company accumulated 2,500 hours of direct labor costs on Job 200 and 3,000 hours on Job 305. The total direct labor was incurred at a rate of $28 per direct labor hour for Job 200 and $24 per direct labor hour for Job 305. Journalize the entry to record the flow of labor costs into production during May.
Answer:
The Journal entry is as follows:
Work In Progress A/c Dr. $142,000
To wages payable $142,000
(To record the flow of labor costs into production)
Note :
1. Total Labor Cost for Job 200 = Labor Hours × Direct labor rate
= 2,500 × $ 28
= $ 70,000
2. Total Labor Cost for Job 305 = Labor Hours × Direct labor rate
= 3,000 × $ 24
= $ 72,000
3. Labor Cost = $ 70,000 + $ 72,000
= $ 142,000
Final answer:
To journalize the labor costs for Bergan Company, the total direct labor costs for Job 200 and Job 305 need to be calculated and then recorded as an increase in Work in Process Inventory and Wages Payable for a total of $142,000.
Explanation:
To journalize the entry for the flow of labor costs into production during May for Bergan Company, we need to calculate the total direct labor cost for each job. Job 200 incurred 2,500 hours at a rate of $28 per hour, and Job 305 incurred 3,000 hours at a rate of $24 per hour. The journal entry would look like this:
Job 200: 2,500 hours × $28/hour = $70,000Job 305: 3,000 hours × $24/hour = $72,000The total direct labor for both jobs is $70,000 + $72,000 = $142,000.
The journal entry to record these costs is:
Work in Process Inventory ...........$142,000 Wages Payable .......................$142,000This entry reflects the transfer of labor costs into work in process inventory, showing that both the cost of the labor and the obligation to pay for that labor have increased.
Use your knowledge of organizational behavior to select the correct answer for the following question. Organizational behavior is the study of human behavior in organizational settings, the interface between human behavior and
Answer:
and the organization, and the organization itself.
Explanation:
Organization behavior is the study of human behavior in organization settings, the interface between human behavior and the organization, and the organization itself.
Organizational behavior involves the study of human behavior within an organization. It focuses on job satisfaction, management and leadership styles, organizational culture, teamwork, employee wellbeing, discrimination, and workplace violence. It's a branch of Industrial and Organizational Psychology, with the end goal of enhancing productivity, safety, and health.
Explanation:Organizational behavior refers to the study of human behavior within an organizational context, predominantly focusing on the interactions between individuals and the overall impact on both the individuals and the functioning of the organization. Specifically, it delves into areas such as job satisfaction, different styles of management and leadership, organizational culture, and teamwork. The framework for understanding organizational behavior originates from Industrial and Organizational psychology, focusing on areas such as the social interactions at work, performance appraisal, the creation of a healthy organizational culture, and the impact of leadership and management styles on organizational productivity.
Other areas of exploration include discrimination in hiring, workplace violence, sexual harassment, and the wellbeing of employees. Particularly, the effects of these factors on employees' motivation, commitment, and job satisfaction are assessed. Furthermore, the interplay between workers, their tools, and their physical environment (ergonomics) is an important aspect of organizational behavior.
Overall, organizational behavior aims to enhance employee job satisfaction, cultivate effective leadership and management styles, foster healthy organizational culture, and promote effective teamwork, with a keen focus on ensuring the optimization of worker's productivity, safety, and health.
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Consider the list of economic questions and issues below. Which are microeconomic issues, and which are macroeconomic issues? Place each item in the correct column. How much will the economy grow next year? Why do economics majors earn more than marketing majors? How does Apple decide how many iPads to produce? Why does the unemployment rate increase during a recession? What happens to prices when the government increases the money supply? Which company’s stocks should your mother buy? Should the government pass a jobs bill to stimulate the economy? Why does the price of gasoline increase during the summer? Categories Macroeconomics Drag and drop here Microeconomics Drag and drop here
Answer:
See explanation section
Explanation:
1. How much will the economy grow next year? - This is a macroeconomic issue. Macroeconomic deals with the economy as a whole. It also deals with the large-scale structure and performance of an industry, behavior, and decision making of a country. Macroeconomic issues include global or national economies. Since the question is about whether an economy grows, it is about entire country's economy.
2. Why do economics majors earn more than marketing majors? - Microeconomics issue. Generally, microeconomics issues deal with the individual level and firm-level decision-making. Since the question does not involve whole the industry or economy, it is a microeconomics issue. Instead the question is about whether the major of economics students earn more or less. It is only about an individual level topic.
3. How does Apple decide how many iPads to produce? - Microeconomics issue as we are talking about only Apple company. Since it is an individual level economics, it is micro issue.
4. Why does the unemployment rate increase during a recession? - As the question is related to a country's unemployment, it deals with the overall economy. So, it is Macroeconomic issue. Unemployment generally covers the whole economy of a country because it suggests how many people are unemployed in an economy.
5. What happens to prices when the government increases the money supply? - Macroeconomic issue as money supply is for the whole economy. Money supply is the total value of a country's economy. Therefore, money supply is a macroeconomic-related topic.
6. Which company’s stocks should your mother buy? - Microeconomics issue as your mother will not purchase all of the company's stock. It is an individual level purchase. It means only one person will purchase the stock, which is a microeconomics issue.
7. Should the government pass a jobs bill to stimulate the economy? - Again, If anything is related to the large-scale and whole economy, it will be a macroeconomic issue. Since the government should pass the bill to stimulate economy which is for the country's economy, it is a macroeconomic issue.
8. Why does the price of gasoline increase during the summer? - Only the price of gasoline and not other petroleum related products, so it is a microeconomics issue. It is not for the large-scale and industry level issue. Instead it is only a part of a petroleum corporation.
Microeconomics deals with individual actions and decisions, while macroeconomics evaluates the economy as a whole. The questions provided can be categorized into these two areas, with questions about individual earnings, business production decisions, and consumer choices being microeconomic, and those concerning economic growth, unemployment, and government policy being macroeconomic.
Economics is a vast field that can be divided into two main areas: microeconomics and macroeconomics. Microeconomics focuses on the actions and decisions of individual agents, such as households and businesses, while macroeconomics analyzes the economy as a whole, including issues like growth, unemployment, and inflation.
Reviewing the list provided, the classification is as follows:
Macroeconomic issues:
How much will the economy grow next year?
Why does the unemployment rate increase during a recession?
What happens to prices when the government increases the money supply?
Should the government pass a jobs bill to stimulate the economy?
Microeconomic issues:
Why do economics majors earn more than marketing majors?
How does Apple decide how many iPads to produce?
Which company’s stocks should your mother buy?
Why does the price of gasoline increase during the summer?
Each question reflects either the narrow focus of individual agents and choices in microeconomics or the wide lens on the collective economy in macroeconomics.
Pearl Products Limited of Shenzhen, China, manufactures and distributes toys throughout South East Asia. Three cubic centimeters (cc) of solvent H300 are required to manufacture each unit of Supermix, one of the company’s products. The company is now planning raw materials needs for the third quarter, the quarter in which peak sales of Supermix occur. To keep production and sales moving smoothly, the company has the following inventory requirements:
a.
The finished goods inventory on hand at the end of each month must be equal to 4,000 units of Supermix plus 25% of the next month’s sales. The finished goods inventory on June 30 is budgeted to be 21,250 units.
b.
The raw materials inventory on hand at the end of each month must be equal to one-half of the following month’s production needs for raw materials. The raw materials inventory on June 30 is budgeted to be 88,000 cc of solvent H300.
c. The company maintains no work in process inventories.
A sales budget for Supermix for the last six months of the year follows.
Budgeted Sales
in Units
July 69,000
August 74,000
September 84,000
October 64,000
November 54,000
December 44,000
Required:
1.
Prepare a production budget for Supermix for the months July, August, September, and October.
2.
Prepare a direct materials budget showing the quantity of solvent H300 to be purchased for July, August, and September, and for the quarter in total.
Answer:
Pearl Products Limited of Shenzhen, China
Finished Goods Production Budget
For the months of July August Sept October November Dec
Units required to 51,750 55500 63,000 48,000 40,500 33,000
meet Sales budget
Desired Ending 22,500 37,600 20,000 17,500 15,000 *15,000*
Inventory
Total Units Req. 74,500 93,100 83,000 65,500 55,500 48,000
Less Estimated
Beg. Inventory 21,250 22,500 37,600 20,000 17,500 15,000
Planned Production 53,250 70,600 45,400 45,500 38,000 33,000
Explanation:
Working Notes:
Units required to meet Sales budget is calculated by multiplying 3/4 of the given months sales as 25 % of it is already included in that months opening inventory . For example July's unit required to meet sales budget would be 69,000 * 3/4= 51,750
Each month's beginning inventory is previous month's ending inventory
As no data for sales budget of January is given the desired ending inventory is taken on the basis of previous months desired inventory.
Pearl Products Limited of Shenzhen, China
Direct Materials Budget
For the months of July August Sept October November Dec
Units to Meet
Production Budget 159,750 211,800 136,200 136,500 114,000
Desired Ending 105,900 68,100 68,250 57,000 49,500
Inventory
Less Beginning
Inventory 88,000 105,900 68,100 68,250 57,000
Direct Materials
Budget 177,650 174,000 136,350 125,250 106,500
Explanation:
Working Notes:
Each finished goods units requires 3 units of direct material . The units to meet the production budget are estimated by multiplying them with 3. for example the July Production budget is 53,250 so it is multiplied with 3 to get the direct material required and 53,250 *3= 159,750
1. Pearl Products Limited's Production Budget for Supermix for the months of July, August, September, and October
July August September October
Sales in units 69,000 74,000 84,000 64,000
Ending Inventory 22,500 25,000 20,000 17,500
Total units required 82,500 99,000 104,000 81,500
Beginning Inventory 21,250 22,500 25,000 20,000
Production Units 61,250 76,500 79,000 61,250
2. Pearl Products Limited's Direct Materials Budget for Solvent H300 for the quarter:
July August September Total
Solvent H300 required 183,750 229,500 239,000 652,250
Ending Inventory 114,750 119,500 91,875 326,125
Total materials 298,500 349,000 330,875 978,375
Beginning Inventory 88,000 114,750 119,500 322,250
Purchases of H300 210,500 234,250 211,375 656,125
Data and Calculations:
Sales Budget and Production Budget
July August September October November December
Sales in units 69,000 74,000 84,000 64,000 54,000 44,000
Ending
Inventory 22,500 25,000 20,000 17,500 15,000
Total units
required 82,500 99,000 104,000 81,500 69,000
Beginning
Inventory 21,250 22,500 25,000 20,000 17,500
Production 61,250 76,500 79,000 61,250 51,500
Raw materials Inventory:
July August September October November
Production Units 61,250 76,500 79,000 61,250 51,500
Raw materials (1 unit = 3cc of H300)
required 183,750 229,500 239,000 183,750 154,500
Ending Inventory 114,750 119,500 91,875 77,250
Total materials 298,500 349,000 330,875 261,000
Beginning
Inventory 88,000 114,750 119,500 91,875
Purchases 210,500 234,250 211,375 169,125
For the production units, calculate the ending inventory based on 4,000 + 25% of the next month's sales units. Add this to the sales units for the month to obtain the total units required. Subtract the beginning inventory from this total to get the units that must produced each month.For the units to be purchased, first multiply the production units by 3 cc of H300. This gives the raw materials required for production. Then work out the ending inventory and add to the required production materials to get the units that must be available to meet production and ending inventory requirements. Subtract the beginning inventory from this total to get the units of raw materials that must be purchased each month.Thus, the production units are as given above, while the units to be purchased of H300 are also indicated.
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All of the following are characteristics of today's consumer market except:
Group of answer choices.
O longer product life cycles
O shorter product life cycles
O more customized products
O product proliferation
Answer:
O longer product life cycles
Explanation:
Product made today are short-lived, their life cycle is always very short compare to the product made in the past. the product life cycle is the space of time from the time a product if first introduced into the market and the time it will no longer enjoy patronage and it will eventually disappear from the market.
The shorter product life cycles characterized by today's product is due to increase in competition and constant change in technology.
Which of the following is the term for items that you hand off to a client or management for review and approval and that must be produced to complete a project or part of a project?
A. Scopes
B. Deliverables
C. Resources
D. Portfolios
Answer:
B. Deliverables
Explanation:
Deliverables -
It refers to the good and services , which may or may not be tangible , that are produced by some project which need to be delivered to the customer , which can be internally as well as externally , is referred to as deliverables.
Since, deliverables are intangible so , it can be software or presentation.
Various small deliverables merge together to form a deliverable.
Hence, from the given information of the question,
The correct option is B. Deliverables .
Four Corners is an IBC company that sells delicious Navajo tacos in the Crossroads Food Court. Part of their success can be attributed to the freshly fried Indian bread that is used not only for the tacos, but also for dessert items. As demand grows the fry-bread process is becoming a bottleneck. Operations management for the company is looking at two different process options to replace the highly manual process currently being used. Option 1 (medium automation) would cost $175 to implement whereas Option 2 (high automation) would cost $350. With Option 1 the variable cost per fry bread produced would be $0.20. The variable cost for Option 2 would be $0.09 per fry bread. a. At what volume (demand) of fry breads is the cost for the two options the same? (Display your answer to two decimal places.) b. What is the total cost for either option at this break-even volume (answered in the last question)?
Answer:
For Option 1:
Cost = $175
Variable Cost = $0.20
For Option 2:
Cost = $350
Variable Cost = $0.09
A).
Volume demand would be same at
175 + x × 0.20 = 350 + x × 0.09
175 + 0.20x = 350 + 0.09x
0.20x – 0.09x = 350 – 175
X = 175/0.11
X = $1590.9
B).
Total cost at this break-even volume is
For option 1:
= $175 +1590.9 × 0.20
= $493.18
For Option 2:
= $350 + 1590.9 × 0.09
= $493.18
If an insurer and insured have a dispute about whether a particular loss is covered under a policy, which authority will settle the dispute?
Answer:
The court
Explanation:
The court is the judicial arm of government that is saddled with the responsibility of interpreting the laws made by the legislative arm of government. The court by law hear cases and adjudicate among people in dispute.
where an insurer and insured have a dispute, the correct step to take is to approach a court of competent jurisdiction for interpretation. The court they say is the final hope of the common man.
Consider a service company that provides carpet cleaning. Classify the cost of the hourly workers who clean carpets for customers.
a. Variable
b. Direct
Answer:varible
Explanation: you welcome
Final answer:
The hourly workers' cost in a carpet cleaning service company is both a variable and a direct cost because they vary with the number of services provided and are directly associated with those services. Both is correct
Explanation:
The cost of the hourly workers who clean carpets for a service company would be classified as both variable and direct. Variable costs change in proportion to the amount of service provided or goods produced.
For the carpet cleaning company, as more carpets are cleaned, more hours of labor will be necessary, hence increasing the variable costs of labor. Additionally, the cost is direct because it is directly associated with the service provided to customers - carpet cleaning.