Answer: D. the increase in output growth from an increase in the saving rate falls over time, and that, other things the same, rich countries should grow faster than poor ones.
Explanation: Diminishing returns is a term used in economics to describe the reduction in marginal output level of a business entity as the amount of a singular factor of production is increased. THE LAW OF DIMINISHING RETURNS IS OF THE FUNDAMENTAL PRINCIPLES IN ECONOMICS OFTEN APPLIED TO PRODUCTION PROCESSES. The law states that if all other factors are kept constant in order to increase the production of a particular product or factor,it will get to a time when the actual increment per unit output will be reduced.
On April 17, 2021, the Loadstone Mining Company purchased the rights to a coal mine. The purchase price plus additional costs necessary to prepare the mine for extraction of the coal totaled $5,640,000. The company expects to extract 940,000 tons of coal during a four-year period. During 2021, 244,000 tons were extracted and sold immediately.
Required:
1. Calculate depletion for 2021.
Answer:
$1,464,000
Explanation:
The computation of the depletion expense is shown below:
Purchase price plus additional cost = $5,640,000
Extracted tons during four year period = 940,000 tons
Current year tons extracted = 244,000 tons
So,
Depletion expense = Purchase price plus additional cost ÷ extracted tons during four year period × current year tons extracted
= $5,640,000 ÷ 940,000 tons × 244,000 tons
= $1,464,000
In 2008, Upper Crust had cash flows from investing activities of ($250,000) and cash flows from financing activities of ($150,000). The balance in the firm's cash account was $90,000 at the beginning of 2008 and $105,000 at the end of the year. What was Upper Crust's cash flow from operations for 2008?
Answer:
$415,000
Explanation:
The movement between the opening and closing cash balances is as a result of the net cash flows from the operating, investing and financing activities. This are the basic elements of a cash flow statement.
Let the cash flow from operations for 2008 be T
$90,000 + T - $250,000 - $150,000 = $105,000
T = $105,000 + $250,000 + $150,000 - $90,000
T = $415,000
Upper Crust's cash flow from operations for 2008 is $415,000
Camille, a citizen and resident of Country A, received a $1,000 dividend from a corporation organized in Country B. Which statement best describes the taxation of this income under the two different approaches to taxing foreign income?
a) Country B will not tax this income under a residence-based jurisdiction approach but will tax this income under a source-based jurisdiction approach.
b) Country B will tax this income under a residence-based jurisdiction approach but will not tax this income under a source-based jurisdiction approach.
c) Country B will tax this income under both a residence-based jurisdiction approach and a source-based jurisdiction approach.
d) Country B will not tax this income under either a residence-based jurisdiction approach or a source-based jurisdiction approach.
Answer:
A
Explanation:
Governments generally apply two approaches to determine the nexus which are as follows:
1- Source based approach
2- Residence-based approach
Residence based approach states that worldwide income of taxpayers can be taxed by country where taxpayer owns citizenship. However, under source-based approach, only that portion of income which is earned from the sources within a country's boundaries can be taxed.
Here, C is the citizen of country A but dividend earned from a corporation located in country B.As income is sourced from country B, dividend will be taxed by country B under source based approach. As C is a citizen of country A, his income cannot be taxed by country B under a residence based approach.
Therefore, the correct statement is statement A
Answer:
A
Explanation:
Country B should be the one to tax Camile for the reason that facilities for the business are provided by this country, the opportunities that the firm have are also from country B meaning all the revenue is generated in country B so although the owner is a citizen of country A the business is sourced in country B.
Assume Canada can either produce three bushels of barley or six bushels of hay in a set period of time, and China can produce either two bushels of barley or three bushels of hay in a set period of time. Which nation has a comparative advantage in producing hay?
Select the correct answer below:
a. Canada
b. China
c. both
d. neither
Final answer:
Canada has a comparative advantage in producing hay because it has a lower opportunity cost than China in terms of foregone barley.
Explanation:
To determine which nation has a comparative advantage in producing hay, you want to look at the opportunity costs for each country. The opportunity cost is the cost of foregone alternatives. In other words, when a country produces one good, it loses the opportunity to produce another good with those resources.
For Canada, the opportunity cost of producing one bushel of hay is 0.5 bushels of barley (since they can produce either six bushels of hay or three bushels of barley). For China, the opportunity cost of producing one bushel of hay is 0.666 bushels of barley (since they can produce either three bushels of hay or two bushels of barley).
Since China's opportunity cost of producing hay (0.666 bushels of barley) is higher than Canada's (0.5 bushels of barley), Canada has the comparative advantage in producing hay because they give up less of the alternative good (barley) to produce it.
The correct answer is: a. Canada
True Ketchup Inc. manufactures and distributes sauces, pickles, and spices. The company has separate divisions responsible for developing and marketing each item. Thus, the company has adopted a _____ approach to departmentalization
Answer:
Product
Explanation:
Product departmentalization is the process of organizing employees based on the product line they work with. For each product line, there are departments with functions ranging from the production to the sales for that particular product.
Since True Ketchup Inc. has separate departments responsible for developing and marketing each product, they have adopted a product departmentalization approach.
Answer:
Product approach to departmentalization
Explanation:
product departmentalization requires grouping activities according to product lines thus placing all activities related to the product or the service under one manager. Each major product area in the corporation is under the authority of a senior manager who is specialist in, and is responsible for, everything related to the product line.
Hence True Ketchup Inc. has adopted a Product approach to departmentalization
Richard is the owner of a very popular burger joint in his locality. He knows that his burger joint's location and excellent customer service give him a competitive advantage over other burger joints. He is conducting a research to understand if there are other burger joints that provide the same sort of services that his joint does. He also intends to know if his competitors have the financial means to do so and if they seem to care about what his joint offers. In the context of the components of resource-based analysis, Richard is trying to understand if his product or service is _____.
Final answer:
Richard is determining if his burger joint's competitive advantages, such as location and customer service, are imitable by competitors, which is a key aspect of resource-based analysis in business. This understanding helps in maintaining a sustainable market position in the presence of monopolistic competitors.
Explanation:
Richard is engaging in a competitive analysis to determine if his burger joint's offerings are imitable by his competitors. This involves evaluating whether other burger joints not only provide similar services but also whether they have the financial capability and interest to replicate what his joint offers. The core of this analysis is to understand if his competitive advantage can be easily imitated or if it is a unique, sustainable asset in the market.
In the context of resource-based analysis, one important aspect is assessing the producibility of a resource—it must be producible for competitors to imitate it. Additionally, the resource should be able to aid in the production of other goods or services. In his research, Richard wants to ascertain the imitability of his competitive advantages such as location and customer service, which could be a part of his overall value proposition. Understanding these dynamics will help him in forging strategies to maintain his market position against monopolistic competitors.
In the industry and the community, Tri-State is known for its low-cost business strategy, but also as a company that is generous to its employees. After 100 years of successful operation, it now finds itself with a respected brand and a market share leader. Tri-State also prides itself on helping with school lunch programs in disadvantaged school districts. In the past, it has helped organizations like the Salvation Army and Red Cross when natural disasters occur across the United States, but this is on an as needed basis. How would you classify Tri-State's social actions? a. Social responsiveness b. Green c. Social responsibility d. Classical
Final answer:
Tri-State can be classified as engaging in 'social responsibility' due to its active involvement in community and philanthropic initiatives.
Explanation:
Based on the description provided, Tri-State can be classified under c. Social responsibility. This is due to its engagement in philanthropic activities that contribute positively to the community, such as helping with school lunch programs in disadvantaged districts and providing assistance through organizations like the Salvation Army and Red Cross during natural disasters. These actions align with the principles of social responsibility, wherein a company takes steps to benefit society and goes beyond just fulfilling economic and legal obligations.
Convertible bonds___________.
a. have priority over other indebtedness.
b. are usually secured by a first or second mortgage.
c. pay interest only in the event earnings are sufficient to cover the interest.
d. may be exchanged for equity securities.
Answer:
May be exchanged for equity securities.
Explanation:
A convertible bond is an example of debt security that provides an investor with a right or an agreement to exchange the bond for a predetermined number of shares in the issuing company at certain times of a bond’s lifetime. It is a hybrid security that contains components of both debt and equity.
A convertible bond is accompanied with a maturity date and pays interest to investors. If an investor decides not to convert their bonds to equity, they wi get the bond’s face value at the maturity. However, if an investor changes the bonds to the company’s shares, the bond will lose all its debt features and then possess only equity component.
True or False: The Electronic Communications Privacy Act (ECPA) and attorney-client privilege prohibit the hospital from reading Dr. Scott's e-mails to his lawyer.
You just purchased two coins at a price of $790 each. Because one of the coins is more collectible, you believe that its value will increase at a rate of 7.3 percent per year, while you believe the second coin will only increase at 6.7 percent per year. If you are correct, how much more will the first coin be worth in 20 years
Answer:
$3,233.12
Explanation:
Data given in the question
Purchase value of two coins = $790
First coin rate = 7.3%
Second coin rate = 6.7%
So, after considering the above information, the amount worth in 20 years
= Purchase value of two coins ×(1 + interest rate)^number of years
= $790 × (1 + 0.073)^20
= $790 × 4.0925541961
= $3,233.12
The amount of money per share that will be received when a put option on stock is exercised is called the ________ price. A) market B) stock C) strike D) future E) obligated
Answer:
The correct answer is letter "C": strike.
Explanation:
The strike price is the price at which a derivative is exercisable and corresponds to the price of the underlying asset of the derivatives. In a call option, the strike price is the price at which the option holder can purchase the underlying security. For a put option, the strike price is the price at which the option holder can sell the underlying security.
While different natural resources and the theory of comparative advantage can explain many trade patterns, they cannot explain all types of trade that economists observe.
Consider each scenario in the following table and determine which theory best explains the trade pattern described.
Scenario
Dynamic Comparative Advantage
Product Life Cycle Theory
Intra-Industry Specialization
Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical.
For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes.
Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage.
Answer:
Intra-Industry Specialization
Dynamic Comparative Advantage
Product Life Cycle Theory
Explanation:
Ice wine is a special spirit that can only be made during a few months in the winter. The nations of Fruzenton and Grappovia are in different hemispheres, and each produces ice wine. During each nation’s winter, its ice wine industry produces enough to meet domestic demand and export to the other country. The ice wine exchanged between the two nations is nearly identical. Intra-Industry Specialization
For many years, the nation of Stilettopia’s high-heel shoe producers have struggled in the international market because strict labor laws have made it hard to get productivity out of Stilettopians. In an effort to stimulate its industry, legislators in Stilettopia approve a bill that reduces the minimum wage and extends the number of hours shoe laborers can work in a day. Once the new policies take effect, Stilettopian high-heel shoe makers have lower costs than international competition and are able to reduce prices to the point that there is demand to export their shoes. Dynamic Comparative Advantage
Since the turn of the century, nearly all X-ray machines purchased by hospitals have been made in Alloway. However, engineers in Osteoville recently designed an X-Ray machine that produces much more accurate results, leading to fewer malpractice cases and more reliable diagnoses. These new X-ray machines quickly become the industry standard. As a result of this, the production of X-ray machines is thriving in Osteoville, while firms in Alloway lose market share and begin trying to develop a new source of advantage Product Life Cycle Theory
Intra-Industry Specialization explains the trade pattern for ice wine, Stilettopia's scenario is best described by Dynamic Comparative Advantage and the Product Life Cycle Theory explains the changes regarding the production of X-ray machines.
Explanation:In the first scenario, the trade pattern between Fruzenton and Grappovia is best explained by the theory of Intra-Industry Specialization. This is because they both are producing and exporting similar products, which are ice wines, to each other. They simply trade at different times of the year due to their hemispheric differences.
In the Stilettopia case, the principle of Dynamic Comparative Advantage best describes this pattern. The intentional change in domestic policy to improve their competitiveness indicates the deliberate creation of a dynamic comparative advantage, leading to increased exports.
Lastly, the trade pattern illustrated with Alloway and Osteoville is explained by the Product Life Cycle Theory. In this scenario, Osteoville has developed a more advanced product, taking over the market and prompting Alloway to seek new innovations to regain competitiveness.
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Prepare a trial balance and an income statement for Residential Relocators. The trial balance is for December 31, 2019, and the income statement is for the month ended December 31, 2019.
Answer:
The question posted is seemingly incomplete and needs further information to be completed.
Firstly, a trial balance is a statement proving whether or not the double-entry principle has been applied correctly. It is a statement with all the debit and credit balances of all the accounts on record. The double-entry system is proven correctly when the total of the debit balances equals the total of the credit balances.
Secondly, an income statement is statement showing the financial performance or disposition of a business over a period of time. The income statements shows the balances of all the income accounts (Sales, Interest income, Rental income, etc.) and the expense accounts (Cost of Sales, Rent expense, Depreciation, etc.). The income statement will then show either a net profit or net loss once the total expenses are subtracted from the total income.
Explanation:
To help you with the exercise in drawing up a trial balance and an income statement, please find attached a template example of each and use the template example to help you further.
Residential Relocators' trial balance for December 31, 2019 shows that its assets equal its liabilities and equity. The company's income statement for the month ended December 31, 2019 shows that it generated $10,000 in net income.
Trial balance: A trial balance is a list of all the accounts in a company's ledger, along with their balances. The debits and credits must balance for the trial balance to be in balance. This means that the total of all the debit balances must equal the total of all the credit balances.
Residential Relocators' trial balance for December 31, 2019 shows that the company has total assets of $90,000 and total liabilities and equity of $90,000. This means that the debits and credits are in balance.
The company's income statement for the month ended December 31, 2019 shows that it generated revenue of $20,000 and incurred expenses of $10,000. This resulted in a net income of $10,000.
Residential Relocators
Trial Balance
December 31, 2019
| Account | Debit | Credit |
| Cash | 10,000 | |
| Accounts Receivable | 5,000 | |
| Supplies | 3,000 | |
| Prepaid Expenses | 1,000 | |
| Land | 20,000 | |
| Building | 30,000 | |
| Accumulated Depreciation - Building | | 10,000 |
| Equipment | 20,000 | |
| Accumulated Depreciation - Equipment | | 5,000 |
| Accounts Payable | | 3,000 |
| Unearned Revenue | | 2,000 |
| Common Stock | | 40,000 |
| Retained Earnings | | 10,000 |
| Totals | 90,000 | 90,000 |
Residential Relocators
Income Statement
Month Ended December 31, 2019
| Revenue | 20,000 |
| Expenses | 10,000 |
| Net Income | 10,000 |
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Welcome to the final week. For this week's discussion, please apply your knowledge from chapter 14 to answering the following questions. Acknowledging the push towards centralized purchasing and that BCI is a global firm, what purchasing related issues should Marc Biron consider in creating his supply plan for BCI's marketing group? For a few items on your list, provide some additional depth and detail in your posting.
Answer:please refer to the explanation section
Explanation:
Centralized Purchasing is when one head quarters department controls and handles all the purchasing that is undertaken by the business. Big companies often adopt this management strategy in controlling and managing purchasing activities undertaken by the business. while centralized purchasing strategy may have certain advantages, there are disadvantages associated wiht centralized purchasing.
Possible Delay in processing purchase requisitions from business branches in other areas for ad hoc goods.When Purchases are centrally controlled and managed, Purchasing department will be dealing with many purchasing requisitions from different branches which may cause a delay in the processing of purchase requisitions for goods that are needed immediately which may cause frustration for businesses operating in other areas.
When the central purchasing department is located far away form when the business is operating the business may loose local discountWhen the purchasing department is located far away from where the business is operating, for instance in another city or even in another country the business will not be able to take advantage of local discounts from local suppliers.
By addressing these issues, Marc Biron can create a supply plan that is cost-effective, resilient, and aligned with BCI's strategic objectives and corporate values.
Marc Biron should consider the following purchasing-related issues in creating his supply plan for BCI's marketing group:
1. Supplier Relationship Management: Establishing and maintaining good relationships with key suppliers to ensure quality, reliability, and cost-effectiveness. This includes negotiating long-term contracts to lock in prices and ensure supply continuity.
2. Global Sourcing: Identifying and evaluating suppliers from different parts of the world to take advantage of cost savings, quality improvements, and access to unique materials or expertise.
3. Risk Management: Assessing and mitigating risks associated with supply chain disruptions, such as political instability, natural disasters, or supplier failure. This may involve diversifying the supplier base or developing contingency plans.
4. Compliance and Ethical Sourcing: Ensuring that all suppliers comply with local and international laws, regulations, and ethical standards, including labor practices and environmental impact.
5. Inventory Management: Balancing the costs of holding inventory with the need to ensure product availability. This includes implementing just-in-time (JIT) inventory systems or vendor-managed inventory (VMI) to reduce carrying costs and minimize waste.
6. Technology Integration: Utilizing advanced purchasing systems, such as e-procurement platforms, to streamline the purchasing process, improve transparency, and enable better data analysis for decision-making.
7. Cost Analysis: Regularly reviewing and analyzing purchasing costs to identify opportunities for cost reduction through negotiation, volume discounts, or alternative sourcing.
8. Demand Forecasting: Accurately forecasting demand to align purchasing volumes with market needs, thereby avoiding overstocking or stockouts.
9. Sustainability: Incorporating environmental considerations into the supply chain by sourcing sustainable materials and working with suppliers committed to reducing their carbon footprint.
10. Cultural and Legal Differences: Understanding and adapting to the cultural and legal differences across various countries where BCI operates to avoid misunderstandings and legal issues.
For a few items on the list, additional depth and detail could be provided as follows:
- Global Sourcing: Marc should evaluate the total cost of ownership (TCO) when sourcing globally, not just the purchase price. This includes transportation costs, tariffs, taxes, and potential risks such as currency fluctuations or political instability. For example, while labor might be cheaper in Country A, the cost of shipping and tariffs might make Country B a more economical choice.
- Risk Management: Biron should develop a robust risk management strategy that includes regular supplier audits, risk assessments, and a supply chain mapping exercise to understand the dependencies and vulnerabilities within the supply chain. For instance, if a key component is sourced from a single supplier in an earthquake-prone region, alternative suppliers should be identified and qualified in advance.
- Compliance and Ethical Sourcing: BCI should conduct regular compliance checks and audits of suppliers to ensure adherence to ethical standards. This could involve third-party audits of labor practices and environmental impact. For example, BCI could require all suppliers to adhere to the United Nations Global Compact principles or face delisting.
By addressing these issues, Marc Biron can create a supply plan that is cost-effective, resilient, and aligned with BCI's strategic objectives and corporate values.
Based on the expectation theory with the term premium , when short term interest rates are not expected to change, the yield curve will look like?
b) According to the expectation theory with the term premium , what do the yield curves tell us about the public’s expectations of future movement of short-term interest rates?
Interest Rate (annual rate) January 15, 1981 March 28, 1985 May 16, 1980 March 3, 1997 February 6, 2006 July 7, 2014 10 15 20
Case 1.The steep inverted yield curve on January 15,1981
Case 2. The flat one of Feb 6, 2006
Case 3. The very steep, upward-sloping yield curves on March 28,1985 and July 7,2014
Answer:
If short-term interest rates have not been expected to adjust, it means that the economy is struggling and interest rates are low and, most significantly, the situation-based yield curve is flattening, thereby narrowing the soread between five years and ten years.
People respond accordingly in anticipation of vulnerabilities and prefer to save even more than just spending.
As per the theory of expectations, the yield curve is a perfect barometric as to how the market performs, as for example whenever the yield curve flipped in 2019 in Germany and the US it firmly foresees and predicts that the economy is about to recession and therefore people are looking to engage in long-term bonds which force interest rates down for 20 years and 30 years whereas the current outlook looks grim and so interest rates are going up and generating the exact opposite situation.
Pools purchased $ 60 comma 000 of 14% DMH bonds on January 1, 2018, at a price of 159.5 when the market rate of interest was 6%. Nautical intends to hold the bonds until their maturity date of January 1, 2028. The bonds pay interest semiannually on each January 1 and July 1. Read the requirementsLOADING.... Make the adjusting entries that Nautical Pools would need to make on December 31, 2018, related to the investment in DMH bonds. (Record debits first, then credits. Exclude explanations from any journal entries.) First, record the entry for the interest receivable at December 31, 2018.
Answer:
Initial purchase of the bonds on 1st January 2016
Assuming that $60,000 bonds includes 600 bonds with face value of $100 each
Now, Lamar insurance purchased these bonds at a discount price of $159.5 each bond.
So, the total amount invested by Lamar insurance = 600 bonds * $159.5 = $95,700
Therefore journal entry for recording purchase of bonds on 1st January 2016 will be,
Investments in bonds A/c Debit $95,700
To, Bank/Cash A/c credit $95,700
Note: The bonds have been issues at a discount and it seems to be reasonable owing to the fact that the market interest rate is 6% , whereas the bonds have a interest rate of 14%.
Interest entry on the first interest payment date of 1st July 2016
Interest amount to be received on 1st July 2016 = ($60,000 *14%)*6/12 = $4.200
Since interest is paid semi annually, therefore we have taken interest for 6 months.
Journal entry will be:
Bank A/c Debit $4,200
To, Interest on bonds A/c Credit $4,200
"On January 1, 2018, Payton Co. sold equipment to its subsidiary, Starker Corp., for $115,000. The equipment had cost $125,000, and the balance in accumulated depreciation was $45,000. The equipment had an estimated remaining useful life of eight years and $0 salvage value. Both companies use straight-line depreciation. On their separate 2018 income statements, Payton and Starker reported depreciation expense of $84,000 and $60,000, respectively. The amount of depreciation expense on the consolidated income statement for 2018 would have been:"
Solution:
Sales Price $115,000 - BV $80,000 = $35,000
Gain on Sale /8 years = $4,375
Annual Amortisation of Unrealised Gain over Expected Useful Life of the Asset
Parent's Depreciation $84,000 + Sub's Depreciation $60,000 - Annual amortisation $4,375 = $139,625
You provide staffing support for a cross-functional team that responds quickly to production breakdowns to minimize lost production time. Knowing this, which teamwork competency will you be most targeting in your hiring initiative for this team.
Answer:
Collaborative problem-solving abilities
Explanation:
This ability will help the new employee to communicate effectively with the team members and also contribute towards solving problems related to production processes. This skill is critical for the success of the team as well as the team members and the business at large.
The hiring target achieved by the staffing support has been communication with problem solving ability.
The team has been the groups of members that work collaborate on a subject to achieve the end result. The team leader has been playing an important role in supporting the action and work of team members and also mediated a flow of information.
The healthy communication results in the solving the problems faced by the team members. It has a success rate with good working environment and the increase in the production, with negligible loss.
The ability of communication with problem solving ability has been targeted to achieve hiring initiate for a team.
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Diego purchased a new black jacket through Amazon. When it arrived, he was disappointed when he opened up the package to discover that the black jacket he thought he ordered was actually dark navy blue.Then he tried on the jacket and realized that the sleeves were too long for his arms. What did Diego probably just experience about his purchase
Answer:
The correct answer is letter "A": cognitive dissonance.
Explanation:
Social psychologist Leon Festinger (1919-1989) described cognitive dissonance as the situation in which individuals feel discomfort as the result of unmatched expectations and the events that took place. According to Festinger, individuals constantly look for consistency to confirm their beliefs are true. Besides, people tend to avoid inconsistency because they lead to disharmony.
Diego probably just experienced a case of product dissatisfaction and incorrect product description.
Explanation:Diego probably just experienced a case of product dissatisfaction and incorrect product description. The fact that he expected a black jacket but received a dark navy blue one suggests a misrepresentation of the product. Additionally, the sleeves being too long for his arms indicate a sizing issue. These types of experiences can occur in online purchases and it is important for consumers to be aware of return policies and product descriptions.
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Jenson College provides its own housekeeping services. The College director would like to outsource this service and has found a company that will provide the service for $50 per hour. The following information has been collected about the cost per hour to the college for performing its own housekeeping services: Cost per hour of service: Cleaning supplies $3 Direct labour costs $27 Variable overhead $2 Total hours of housekeeping services per year 3,120 Total fixed overhead $51,840 Determine whether Jenson College should outsource housekeeping, assuming that 50% of fixed costs can be eliminated if the service is outsourced. (If an amount reduces the net income then enter with a negative sign preceding the number, e.g.-15,000 or parenthesis, e.g. (15,000).) Number of hours: 3,120 In-house Outsource Net Income Increase (Decrease) Cleaning supplies $ $ $ Direct labour Variable overhead Fixed costs Purchase price Total cost $ $ $ Jenson College outsource the services.
Answer:The college should not outsource House keeping services
Explanation:
The negative sign indicates how each cost items affects the net income, Negative sign indicates that a cost item will decrease net income while a positive sign indicates an increase in net income.
Cost to the college for performing its house keeping services
Cleaning Supplies costs = $ 3 per hour x 3120 hours = - $9360
Direct Labour Costs = $ 27 per hour x 3120 hours = - $84240
Variable Overheads costs = $ 2 x 3120 hours = - $6240
Total Fixed Costs = - $51840
Total Cost to the college = 9360 + 84240 + 6240 + 51840 = $151680
Cost to the College for Outsourcing
We will assume house keeping hours are still 3120
house keeping service cost per hour = $ 50 x 3120 = - $156000
Total Fixed costs = $51840 x 50/100 = - $25920
Total Costs to the College for outsourcing = 156000 + 25920
Total Costs to the College for outsourcing = $181920
Total costs are lower if the college performs its own house keeping service. Total cost will $18120 if house keeping service is outsourced which higher than the Total cost of $151680 if the college performs it own house keeping services.
"According to the supply and demand model, all else equal, if the inputs used to produce a good become less costly, supply will increase, causing the price to rise, which causes the quantity demanded to fall." This statement is:
Answer:
False
Explanation:
If the inputs used to produce a good become less costly, supply will increase. The increase in supply would lead to a rightward shift of the supply curve. Supply would exceed demand and equilibrium prices would fall and quantity demaned would increase as a result of the fall in price.
I hope my answer helps you
Final answer:
The student's statement contains a misconception. Decreased input costs increase supply, leading to a lower equilibrium price and an increased quantity demanded, not a decrease in demand as the student suggests.
Explanation:
According to the supply and demand model, if the inputs used to produce a good become less costly, the supply of the good will typically increase. An increase in supply, assuming all other factors are unchanged, generally causes the equilibrium price to fall. In response to the lower price, the quantity demanded of the good will typically rise, not fall as the student's statement suggested. So, the correct sequence of events following a decrease in input costs should be: lower input costs lead to an increased supply, which leads to a lower equilibrium price, and consequently, an increase in the quantity demanded.
Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books: Andrea invested $15,100 cash in the business in exchange for common stock. Andrea contributed $36,000 of photography equipment to the business. The company paid $3,700 cash for an insurance policy covering the next 24 months. The company received $7,300 cash for services provided during January. The company purchased $7,800 of office equipment on credit. The company provided $4,350 of services to customers on account. The company paid cash of $3,100 for monthly rent. The company paid $4,700 on the office equipment purchased in transaction #5 above. Paid $435 cash for January utilities. Based on this information, the balance in the cash account at the end of January would be:
Answer:
$ 10465
Explanation:
Cash Book can be used to get cash balance of a firm for at the end of an accounting period, with cash receipts debited 'to' & cash payments credited 'by' in Cash Book
Above Transactions Cash Book :
Debit (+) Credit (-)
To Capital 15100 By insurance 3700
To sales 7300 By rent 3100
By office equipment supplier 4700
By extra utilities 435
By balance carried down 10465
Andrea's contribution in form of 'photography equipments' ; Company purchasing office equipment on 'credit' ; Company providing services to customers on a/c i.e 'credit' : dont effect the cash in hand of firm & hence are not entered in cash book. Creditor - Office equipment, supplier later paid partially effects the cash outflow & hence is recorded.The balance left from adding all cash inflows, subtracting all cash outflows = $ 10465
Labor economists often study the returns on investment in education (see, e.g., Card 1999). Suppose we have data on salaries of a set of people, some of whom went to college and some who did not. A simple model linking education to salary is:
Salaryᵢ = β₀ + β₁ College graduateᵢ + ϵᵢ
, where the value of Salaryᵢ, is the salary of person i and the value of College graduateᵢ; is 1 if a person i graduated from college and 0 if a person i did not.
(a) What does β₀ mean? What does β₁ mean?
(b) What is in the error term?
(c) What are the conditions for the independent variable X to be endogenous?
(d) Is the independent variable likely to be endogenous? Why or why not?
(e) Explain how endogeneity could lead to incorrect inferences.
Answer:
a. The intercept terms beta0 depicts the minimum amount of salary that a person will be earning if the person is not a college graduate. beta1 depicts that if a person is a college graduate, then the salary of the person increases by \beta 1 units.
b. The error term include all other variables impacting salary of the person other than the the person being a college graduate.
c. The independent variable X will be endogenous when salary plays an important role in determination of whether a person is college graduate.
d. yes, independent variable can be endogenous in some cases when dependent variable Y is impacting the independent variable X.
e. Endogeneity can lead to relaxation of one of the important assumption of Ordinary Least Squares (OLS) which considers independent variable to be endogenous. This will lead to the problem of multi collinearity. The Simultaneous Equation model can be used in this case rather than OLS model.
Explanation:
Final answer:
The linear model explores the relationship between college education and salary, where β0 and β1 represent the baseline salary for non-college graduates and the salary premium for college graduates, respectively. Endogeneity may arise due to omitted variables, measurement errors, or simultaneity, affecting the accuracy of causal inferences about education's impact on salary.
Explanation:
Labor economists study the returns on investment in education to understand the relationship between educational attainment and salary. In a simple linear model, Salaryi = β0 + β1 College graduatei + εi, β0 represents the average salary of non-college graduates (baseline salary), while β1 measures the average salary difference between college graduates and non-college graduates. The error term, εi, contains all other factors affecting salary that aren't accounted for by college education status. Endogeneity in the independent variable 'College graduate' can occur if there are omitted variables, measurement errors, or simultaneity that affect both the education decision and salary. This is likely in education studies because factors like innate ability or family background, which also influence salary, might be correlated with the decision to pursue higher education. Endogeneity leads to biased and inconsistent estimates, making it challenging to accurately infer the causal effect of education on salaries.
A number between 1 and 15
is chosen at random. What
is the probability that the
number chosen will be a
multiple of 5? please help will mark brainest I'm learning probability. ty godbless
Answer:
The probability is 0.20 or 20%
Explanation:
we know that
The probability of an event is the ratio of the size of the event space to the size of the sample space.
The size of the sample space is the total number of possible outcomes
The event space is the number of outcomes in the event you are interested in.
so
Let
x------> size of the event space
y-----> size of the sample space
so
[tex]P=\frac{x}{y}[/tex]
In this problem we have that
Multiple of 5 between 1 and 15 = 5, 10,15
so
[tex]x=3[/tex]
Total numbers between 1 and 15=15
so
[tex]y=15[/tex]
substitute
[tex]P=\frac{3}{15}=0.20[/tex]
Convert to percentage
[tex]P=0.20(100)=20\%[/tex]
Following are selected transactions for Vitalo Company.
Nov. 1 Accepted a $3,000, 180-day, 7% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.
Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.
Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.
Required:
Complete the table to calculate the interest amounts at December 31st and April 30th and use those calculated values to prepare your journal entries.
Answer:
Vitalo Company
Journal Entries
Nov. 1 Notes Receivable $ 3000 Dr.
Accounts Receivable $ 3000 Cr.
Accepted a $3,000, 180-day, 7% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.
Dec. 31 Interest Receivable $ 35 Dr.
Interest Income $ 35 Cr.
( $ 3000* 7% * 180/360= $ 3000*7%* 0.5= $ 105)At Dec this amount would be
($ 105 / 6) *2= $35
Adjusted the year-end accounts for the accrued interest earned on the White note.
Apr. 30 Cash $ 3105
Notes Receivable $ 3000
Interest Receivable $ 105
White honored her note when presented for payment; February has 28 days for the current year.
Teal Company uses a periodic inventory system. For April, when the company sold 650 units, the following information is available.
Units Unit Cost Total Cost
April 1 inventory 290 $18 $5,220
April 15 purchase 400 22 8,800
April 23 purchase 310 23 7,130
1,000 $21,150
Calculate the weighted average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.)
Answer:
The average cost per unit is $ 21.15 for 1,000 unit.
Inventory Purchase Final
Q Cost Q Cost Q Cost
PURCHASE 290.00 18.00 5,220.00 400.00 22.00 8,800.00 690.00 20.32 14,020.00
PURCHASE 690.00 20.32 14,020.00 310.00 23.00 7,130.00 1,000.00 21.15 21,150.00
The American Baker’s Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent increase in the demand for bran muffins. Most of the increase was attributed to a report that diets rich in bran help prevent certain types of cancer. You are the manager of a bakery that produces and packages gourmet bran muffins, and you currently sell bran muffins in packages of three. However, as a result of this new report, a typical consumer’s inverse demand for your bran muffins is now P = 8 - 1.5Q. If your cost of producing bran muffins is C(Q) = 2.0Q, determine the optimal number of bran muffins to sell in a single package and the optimal package price. Instruction: Enter your response for the optimal package price rounded to two decimal places. Optimal package size: units Optimal package price: $
Answer:
1. The the optimal number of bran muffins to sell in a single package is 4 units.
2. The optimal package price is $2.
Explanation:
Under the theory of production in Economics, optimal quantity is obtained when price (P) is equal to the marginal cost (MC) (i.e. when P = MC).
From the question, we have:
P = 8 - 1.5Q .................................... (1)
C(Q) = 2.0Q .................................. (2)
To obtain MC, C(Q) in equation (2) is differentiated with respect to Q as follows:
MC = C'(Q) = 2 ............................ (3)
We will equate equate (1) and (3) to have:
P = MC
8 - 1.5Q = 2
Rearrange and solve for Q:
1.5Q = 8 - 2
1.5Q = 6
Q = 6 ÷ 1.5
Q = 4.0
Therefore, the optimal number of bran muffins to sell in a single package is 4 units.
Substitute Q = 4 into equation (1), we have:
P = 8 - (1.5 × 4) = 8 - 6 = 2.0
Therefore, the optimal package price is $2.0.
The cost of early retirement includes all of the following except: Group of answer choices lower Social Security benefits lower private pension benefits reduced discretionary retirement savings more leisure time
Answer:
More Leisure time
Explanation:
When an individual retires he gets more free time which is referred to as leisure time where you dont have to work. and you can use this to experience life and adventures.
You are considering a project which will provide annual cash inflows of $7,500, $3,000, $9,000, and $12,430 at the end of each year for the next four years, respectively. What is the present value of these cash flows, given a 9 percent discount rate?
Answer:
$25,161.15
Explanation:
The computation of the present value of the cash flows is presented below:
Years Cash flows Discount factor Present value
1 $7,500.00 0.9174311927 $6,880.73
2 $3,000.00 0.8416799933 $2,525.04
3 $9,000.00 0.7721834801 $6,949.65
4 $12,430.00 0.7084252111 $8,805.73
Present value $25,161.15
The discount factor should be computed below
= 1 ÷ (1 + rate)^years
The present value of the cash flows can be calculated using the formula for discounted present value.
Explanation:The present value of cash flows can be calculated using the formula for discounted present value. Discounted present value is the value of a cash flow or income stream in today's dollars, after taking into account the time value of money and a discount rate. To calculate the present value of the cash flows given in the question, we can use the formula:
PV = CF1 / (1 + r)1 + CF2 / (1 + r)2 + CF3 / (1 + r)3 + CF4 / (1 + r)4
Where PV is the present value, CFn is the cash flow in year n, and r is the discount rate.
Plugging in the given cash flows and discount rate, we get:
PV = $7,500 / (1 + 0.09)1 + $3,000 / (1 + 0.09)2 + $9,000 / (1 + 0.09)3 + $12,430 / (1 + 0.09)4
Calculating this expression will give us the present value of the cash flows.
Jeremy is an effective leader who is capable of helping his subordinates complete their tasks. However, he is considered intimidating by some of his team members and is often unable to boost the group's morale. Jeremy feels that since his strengths are task-oriented, management should place him as the leader of team members who need task-related guidance.
Jeremy is a strong believer of which leadership theory or approach?
a. Fiedler's contingency theory of leadership effectiveness
b. Leader-member exchange theory
c. Normative decision model
d. Path-goal theory of leadership effectiveness
Answer:
Fiedler's contingency theory of leadership effectiveness.
Explanation:
Fiedler's contingency theory of leadership effectiveness states that one's effectiveness as a leader is determined by how leadership can match the situation at hand.
There is no single best way to lead, but leadership style is determined by the situation.
According to Fiedler's contingency theory of leadership effectiveness, leadership style is fixed and leaders will need to be put into situations that best matches their style.
The two important factors to consider in thos theory are leadership style and situational favourableness.
Final answer:
Jeremy is a proponent of Fiedler's contingency theory of leadership, emphasizing that his task-oriented leadership style is most effective when matched with suitable situational favorableness, according to the theory's framework.
Explanation:
Jeremy believes his strengths as a task-oriented leader make him most suitable for managing team members who require task-related guidance, but he also recognizes that his style may be intimidating and not always conducive to boosting team morale. Given this belief, Jeremy is a strong supporter of Fiedler's contingency theory of leadership effectiveness. This theory posits that the effectiveness of a leader's style (whether task-oriented or people-oriented) is contingent upon the level of situational favorableness. According to this theory, highly task-oriented leaders like Jeremy are most effective in situations that are either highly favorable or highly unfavorable. People-oriented leaders, on the other hand, tend to thrive in situations with moderate favorableness.
Fiedler's theory contrasts with other leadership theories, such as the Path-Goal theory, which suggests that leaders should adapt their style to the motivation and abilities of their employees, or Vroom and Yetton's normative model, which is more about the level of participation in decision making. Given Jeremy's self-assessment, he supports an approach where his leadership style is suited to specific situations rather than adapting his style to the situation, aligning with Fiedler's model.