Solution:
Weighted-Average Method:
1. Equivalent units of production
Materials Conversion
Transferred to next department' 353,000 353,000
Equivalent units in ending work in process
Materials: 27,000 units x 100% complete 27,000
Conversion: 27,000 units x 90% complete 4,300
Equivalent units of production 380,000 357,300
*Units transferred to the next department = Units in beginning work in process + Units started into production - Units in ending work in process = 67,000 + 320,000 - 34,000 = 353,000
2. Cost per equivalent unit
Materials Conversion
Cost of beginning work in process $ 98, 800 $ 44,000
Cost added during the period 513, 830 242, 130
Total cost (a) $612,630 $ 286,130
Equivalent units of production (b) 380,000 357,300
Cost per equivalent unit (a) ÷ (b) $1.61 $ 0.80
3. and 4.
Cost of ending work in process inventory and units transferred out
Materials Conversion Total
Ending work in process inventory:
Equivalent units 27,000 4,300
Cost per equivalent unit $ 1.61 $ 0.80
Cost of ending
work in process inventory $ 43,470 $ 3,440 $ 45,910
Units completed and transferred out:
Units transferred to the 353,000 353,000
next department
Cost per equivalent unit $ 1.61 $ 0.80
Cost of units completed and
transferred out $ 568,330 $ 282,400 $850,730
5. Cost Reconciliation:
Cost of beginning work in process inventory ($ 98, 800+ $44,000 ) = $142,800
Costs added to production during the period ($ 513, 830+ $242, 130 ) = $755,960
Ian Burns is the new payroll accountant for ECG Marketing. Certain employees have been requesting changes in classification from nonexempt to exempt.
How do the U.S. Department of Labor guidelines help him answer the employees' questions? Select all that apply.
a. Educational level
b. Responsibilities
c. Duties
d. Reimbursement of board, lodging or other facilities availed
e. Job elements
f. Compensation such as discretionary bonus
Solution and explanation:
The Fair Labor Standards Act defines three tests that an employee must be eligible to be considered under the 'Exempt' category.
These include the following :
1.Salary Level Test : Employee must be paid minimum of $23,600 per year ($455 per week) to be considered Exempt.
2.Salary Basis Test : The representative must be paid on a Salary Basis, a fixed ensured least installment must be made for any workweek for the playing out any work. This would be dependent upon admissible and impermissible derivations that decide the premise of installment. Special cases to this standard are School educators, Lawyers, Doctors, and some others.
3.Duties Test : The actual jobs performed by the employee must be within the qualified exempt category of high level work. These are broadly classified as Executive, Professional; and Administrative job duties.
Thus, following out of the above will be considered for the purpose of classification to Exempt employees category:
- Reimbursement of board, lodging, facilities availed
Whether these form part of the compensation structure and the gross payments fall within the ambit of Levels test.
- Compensation such as discretionary bonus
These to be considered as part of Salary and to check whether the payments fall within the above stated levels and also the Basis of these payments whether on continuing salary or otherwise.
-Duties
The actual duties performed to be checked whether these fall within the exempt category.
Thus, the above stated three tests must be cumulatively passed in order to be eligible to classified as 'Exempt' Employee.
The U.S. Department of Labor guidelines help Ian Burns answer the employees' questions about changes in classification from nonexempt to exempt based on responsibilities, duties, and compensation.
Explanation:The U.S. Department of Labor guidelines help Ian Burns answer the employees' questions about changes in classification from nonexempt to exempt based on several factors:
Responsibilities: The guidelines consider the employee's job responsibilities to determine if they meet the criteria for exempt classification.Duties: The specific duties performed by the employee are taken into account to determine their classification.Compensation: The guidelines also consider certain compensation factors, such as the reimbursement of board, lodging, or other facilities availed by the employee, as well as the presence of discretionary bonuses.Learn more about U.S. Department of Labor guidelines here:https://brainly.com/question/32182685
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You bought 1,000 shares of Tund Corp. stock for $60.59 per share and sold it for $82.35 per share after a few years. How will your gain or loss be treated when you file your taxes
Answer:
gain will treat as capital gain at long term tax rate
Explanation:
given data
bought shares = 1,000
stock for = $60.59 per share
sold = $82.35 per share
solution
as gain from sale of stocks is held for an investment purpose and it is treated as capital gain
when stock is here held for more than year
so gain is taxed as long term capital gain
and when gain is less than year than gain taxed short term capital gain
but here we have given stock for more than year
so here gain will treat as capital gain at long term tax rate
The profit made from selling Tund Corp. stock is a capital gain, treated as income for tax purposes. The tax rate depends on the income bracket and how long the stock was held
The gain you made from buying and selling Tund Corp. stock is referred to as a capital gain. This is the increase in the stock's value from the time you bought it ($60.59 per share) to the time you sold it ($82.35 per share). For tax purposes, the amount of this capital gain will be treated as income and, therefore, is subject to taxation. The rate of taxation depends on your overall income and how long you held the stock. If you held the stock for over a year, the capital gain is considered long-term and taxed at a generally lower rate. If held for less than a year, it is considered short-term and is taxed at your ordinary income tax rate.Learn more about Capital Gain here:
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Suppose that a mechanic owns a building and is renting part of the building's space to a spa. Further suppose that because the mechanic is the owner, he has the right to make noise during the day while he fixes cars. While the spa cannot insist on a quiet environment, it could move to a quieter building. However, rent in the next best building is $350/month more than rent in the noisy building. The mechanic can adopt a new technology that eliminates the noise for $275/month. Given this situation, can the spa find a private solution with the mechanic that will make both better off
Answer:
The correct answer is letter "B": Yes, but there is only a range of payments that the spa will pay the mechanic to make them both better off.
Explanation:
The spa must analyze the benefit-cost of the possible solution for the noise problem. A spa itself cannot provide a noisy atmosphere to its clients. Moving the spa to the next best building implies spending $350 monthly more for rent. However, the mechanic can eliminate the noise with a device that costs $275 per month. Thus, the spa should share the expenses with the mechanic for the noise-elimination device to reduce the costs of having a noise-free environment obtaining the benefit desired.
A bank can decrease the degree of moral hazard if it a. Monitors the borrowers behaviors b. Placing covenants on the loan c. Both of the above d. None of the above
Answer:
C. Both of the above
Explanation:
Answer:
The correct answer is letter "C": Both of the above.
Explanation:
In banking, moral hazard represents all of those negative behaviors consumers have that could lead to incurring in debt. There are several reasons why borrowers can fall into dent but banks can reduce the losses risk by checking their credit reports to find out if borrowers are incurring much debt they can handle.
Besides, by setting clear loan terms, banks make sure borrowers are subject to penalties in case of not fulfilling their repayment obligations.
Branch managers at First National Bank report to both a retail banking manager and a central operations officer. One of the managers is focused on sales and the other on control measures. What type of organizational structure does this most closely resemble
The organizational structure of branch managers at First National Bank resembles a matrix structure, where they report to both a retail banking manager and a central operations officer.
Explanation:The organizational structure of branch managers at First National Bank, where they report to both a retail banking manager and a central operations officer, resembles a matrix structure. In a matrix structure, employees report to multiple managers based on different aspects of their roles or functions. In this case, one manager focuses on sales and the other on control measures, allowing for a balance between achieving sales targets and implementing control measures to ensure compliance and risk management.
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Laflin Company reported the following year-end information: Beginning work in process inventory$1,080,000 Beginning raw materials inventory300,000 Ending work in process inventory900,000 Ending raw materials inventory480,000 Raw materials purchased960,000 Direct labor900,000 Manufacturing overhead720,000 Laflin Company's cost of goods manufactured for the year is Select one: a. $2,400,000 b. $2,580,000 c. $2,220,000 d. $2,760,000
Answer:
b. $2,580,000
Explanation:
The formula and the computation of the cost of goods manufactured is shown below:
= Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work-in-process inventory - ending work-in-process inventory
= $780,000 + $900,000 + $720,000 + $1,080,000 - $900,000
= $2,580,000
The direct material used is
= Beginning raw material inventory + purchase made - ending raw material inventory
= $300,000 + $960,000 - $480,000
= $780,000
Final answer:
The cost of goods manufactured for Laflin Company is calculated by summing the beginning work in process inventory and total manufacturing costs, then subtracting the ending work in process inventory, resulting in a value of $2,580,000.
Explanation:
To calculate Laflin Company's cost of goods manufactured for the year, we must add total manufacturing costs to the beginning work in process inventory and then subtract the ending work in process inventory from the sum. Total manufacturing costs include raw materials used, direct labor, and manufacturing overhead.
First, we find the raw materials used:
Beginning raw materials inventory: $300,000
Plus raw materials purchased: $960,000
Less ending raw materials inventory: $480,000
Equals raw materials used: $780,000
Next, we add all the components of manufacturing costs:
Raw materials used: $780,000
Direct labor: $900,000
Manufacturing overhead: $720,000
Total manufacturing costs: $2,400,000
Finally, we calculate the cost of goods manufactured:
Beginning work in process inventory: $1,080,000
Plus total manufacturing costs: $2,400,000
Less ending work in process inventory: $900,000
Equals cost of goods manufactured: $2,580,000
Therefore, the answer is (b) $2,580,000.
On January 1, Revis Consulting entered into a contract to complete a cost reduction program for Green Financial over a six-month period. Revis will receive $53,600 from Green at the end of each month. If total cost savings reach a specific target, Revis will receive an additional $26,800 from Green at the end of the contract, but if total cost savings fall short, Revis will refund $26,800 to Green. Revis estimates an 80% chance that cost savings will reach the target and calculates the contract price based on the expected value of future payments to be received.Prepare the following journal entries for Revis:
1. The journal entry on January 31 to record the first month of revenue under the contract.
2. Assuming total cost savings exceed target, the journal entry on June 30 to record receipt of the bonus.
3. Assuming total cost savings fall short of target, the journal entry on June 30 to record payment of the penalty.
Answer:
1. Jan 31 Debit Cash $53,600
Credit Accounts receivable $53,600
2. June 30 Debit Cash $80,400
Credit Deferred Revenue $21,440
Credit Bonus Received $5,360
Credit Accounts Receivable $53,600
3. June 30 Debit Penalty Payable $26,800
Debit Cash $53,600
Credit Accounts Receivable $53,600
Credit Deferred Revenue $21,440
Credit Bonus adjustment $5,360
Explanation:
The question required that the month end revenue actually realized under the contract be journalized.
1.$53,600/- is a monthly payment which Revis will be receiving from Green Financial for every month for 6 months. Hence the receipt increases cash/bank balance and these are receivable under the contract. Hence accounts receivable is credited against the actual money received in the first month.
2.If cost saving targets are achieved by Revis, then apart from the monthly payment of $53,600/-, Green Financials has agreed to pay $26,800/- as bonus. Since the question states that Revis estimates that 80% it will reach the target, it would have accounted for the 80% as deferred revenue to be received. Hence 80% of $26,800/- is recorded under deferred revenue. Since now entire $26,800/- is received, the remaining 20% is shown as bonus received.
3.When the targets are not met, the deferred revenue recognized is reversed and penalty is paid. The difference of 20% is shown as bonus adjustment amount. The regular monthly income of $53,600/- is recognized as is.
The following units of an inventory item were available for sale during the year: Beginning inventory 10 units at $50 First purchase 17 units at $52 Second purchase 27 units at $53 Third purchase 19 units at $55 The firm uses the periodic inventory system. During the year, 26 units of the item were sold. The value of ending inventory rounded to the nearest dollar using average cost is (Round average cost per unit to three decimal place.) a.$1,300 b.$1,332 c.$2,485 d.$1,416
Answer:
The correct answer is C
Explanation:
The formula for computing the ending inventory through using the average cost is as:
Ending Inventory = Beginning Inventory + Purchases - COGS (Cost of goods sold)
where
Beginning inventory = Units × Price
= 10 × $50
= $500
Purchases = First Purchase + Second Purchase + Third Purchases
Purchases = Units × Price + Units × Price + Units × Price
Purchases = 17 × $52 + 27 × $53 + 19 × $55
Purchases = $884 + $1,431 + $1,045
Purchases = $3,360
COGS = Units × Price
COGS = 26 × Price
COGS = 26 × $53
COGS = $1,378
Price is computed as:
Price = $50 + $52 + $53 + $55 / 4
Price = $52.5
Putting the values above:
Ending Inventory = $500 + $3,360 - $1,378
Ending Inventory = $2,485
Which of these projects is likely to have the higher asset beta, other things equal? Why? a. The sales force for project A is paid a fixed annual salary. Project B’s sales force is paid by commissions only.b. Project C is a first-class-only airline. Project D is a well-established line of breakfast cereals.
Project A and Project C are likely to have higher asset betas due to their specific characteristics.
Explanation:The asset beta of a project depends on various factors, including the risk profile of the project. In the given scenarios, the project with a higher asset beta would be:
Option a: Project A, where the sales force is paid a fixed annual salary, is likely to have a higher asset beta compared to project B. This is because fixed salaries are a fixed cost for the project, which means that any changes in sales revenue would directly impact the project's profitability and risk.Option b: Project C, which is a first-class-only airline, is likely to have a higher asset beta compared to project D, which is a well-established line of breakfast cereals. This is because the airline industry is generally more volatile and exposed to economic fluctuations compared to the stable and established breakfast cereal industry.Learn more about Asset beta here:https://brainly.com/question/31649303
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A work-at-home opportunity is available in which you will receive 2 percent of the sales for customers you refer to the company. The cost of your ""franchise fee"" is $750. How much would your customers have to buy to cover the cost of this fee
Answer:
$37,500
Explanation:
You receive 2% of the sales.
You have to earn $750 to break even, or cover the franchise cost.
So, if we let Sales be "x", we can say:
2% of x would be 750
What is 2% in decimal?? We divide by 100, so we have:
2% = 2/100 = 0.02
Now, we convert the word equation above to mathematical equation:
0.02 * x = 750
Now, we solve for x, the amount customers have to buy (or sales):
[tex]0.02*x=750\\x=\frac{750}{0.02}\\x=37,500[/tex]
Hence,
Customers would have to buy $37,500 to cover the cost of this fee.
Final answer:
To cover a $750 franchise fee with a 2% commission rate, customers referred by the franchisee would need to make a total of $37,500 in purchases.
Explanation:
How to Calculate the Sales Needed to Cover a Franchise Fee
The question involves finding out how much in sales is needed to cover a franchise fee when earning a commission of 2 percent on the sales from customers you refer. To determine this, you can use the formula: Sales Needed = Franchise Fee / Commission Rate.
Here, the franchise fee is $750 and the commission rate is 2%, or 0.02 when expressed as a decimal. The calculation would then be:
Sales Needed = $750 / 0.02 = $37,500
Therefore, to cover the cost of a $750 franchise fee with a 2% commission rate, your customers would need to make a total of $37,500 in purchases.
On August 1, 2018, Towson Corp., declared a 10% stock dividend on its common stock when the market value of the common stock was $17 per share. The balance in the common stock account, before the stock dividend was declared, was $800,000. The par value of all common stock is $10. What is the total dollar amount credited to additional paid in capital - common stock on August 1, 2018?
The dollar amount credited to common stock is $40,000
The dollar amount credited to additional paid in capital - common stock is $36,000
Solution:
Before stock dividend is declared, there is 80,000 stocks outstanding ( that is, Common stock account balance/par value per stock = 800,000/10)
=> Stock to be distributed as dividend = 80,000 * 5% = 4,000 stocks
As the stock dividend is 5%, this is a small stock dividend => stock dividend is to be recorded at market value.
We have the entries:
Dr Retained Earnings 76,000
Cr Common stock dividend distributed 40,000
Cr Additional paid-in capital - common stock 36,000
The dollar amount credited to common stock is $40,000
The dollar amount credited to additional paid in capital - common stock is $36,000
McGill and Smyth have capital balances on January 1 of $56,000 and $36,000, respectively. The partnership income-sharing agreement provides for (1) annual salaries of $24,000 for McGill and $12,000 for Smyth, (2) interest at 10% on beginning capital balances, and (3) remaining income or loss to be shared 70% by McGill and 30% by Smyth. (1) Prepare a schedule showing the distribution of net income, assuming net income is $90,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g. -15,000, (15,000).) (2) Prepare a schedule showing the distribution of net income, assuming net income is $30,000. (If an amount reduces the account balance then enter with a negative sign preceding the number or parenthesis, e.g. -15,000, (15,000).) Journalize the allocation of net income in each of the situations above. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record entries in the order presented in the previous part.)
Answer: capital accounts distribution
DETAILS McGill Smyth total remaining
opening balance $56000 $36000
net income $90000 $90000
salaries $24000 $12000 -$36000 $54000
interest @ 10% $5600 $3600 -$9200 $44800
Profit share 70 : 30% $31360 $13440 -$44800 $0
closing balance $116960 $65040
DETAILS McGill Smyth total remaining
opening balance $56000 $36000
net income $30000 $30000
salaries $24000 $12000 -$36000 - $6000
interest @ 10% $5600 $3600 -$9200 -$15200
loss share 70 : 30% -$10640 -$4560 +$15200 $0
closing balance $74960 $47040
JOURNAL ENTRIES
1 . Debit partnership summary income account $90000, credit capital accounts McGILL ; salary 24000, interest on capital 5600, profit share 31360. Symth ; salary 12000, interest on capital 3600, profit share 13440
2 . Debit Partnership summary income account 30000 , credit Capital accounts McGill : salary 24000 , Smyth : 12000 , Interest on capital account McGill : 5600, Smyth 3600.
for loss sharing journal
Debit Capital accounts McGILL 10640, Smyth 4560 , Credit partnership summary account 15200
Explanation:
Answer:
Explanation:
Net income $90 000 000
salary allowance is the total of the two
$36000
Refer to McGrill as M and to Smyth as S
M=$24000
S=$12000
Interest $9200
M=($56000*0.1)=$5600
S=($36000*0.1)=$3600
Total income
M=$24000+$5600=$29600
S=$12000+$3600=$15600
So the distribution
$90000-$36000-$9200
=$44800
Then for M=$44800*0.7=31360
S=$44800*0.3=$13440
total distribution
M=$31360+$29600=$60960
S=$13440+$15600=$29040
I income is $30 000000
($30000-$36000-$9200)
-$15200
M=-15200*0.7=-$10640
S=-$15200*0.3=-$4560
Total distributions
M=(-$10640+29600)=$18960
s=(-$4560+$15600)=$11040
The risk-free rate is 5.4 percent and the market risk premium is 5 percent. Assume that required returns are based on the CAPM. Your $1 million portfolio consists of $ 218 ,000 invested in a stock that has a beta of 0.5 and the remainder invested in a stock that has a beta of 1.4 . What is the required return on this portfolio?
Answer:
11.419%
Explanation:
Given that,
Risk-free rate = 5.4
Market risk premium = 5
Portfolio = $1 million = $1,000,000
Amount invested in stock A = $218,000
Beta A = 0.5
Amount invested in stock B = $1,000,000 - $218,000
= $782,000
Remainder invested in stock B that has a beta = 1.4
Portfolio beta:
= [(Amount in A × Beta of A) + (Amount in B × Beta of B)] ÷ Total Amount
= [($218,000 × 0.5) + ($782,000 × 1.4)] ÷ $1,000,000
= ($109,000 + $1,094,800) ÷ $1,000,000
= 1.2038
Required return:
= Risk free rate + (Beta × Market risk premium)
= 5.4% + (1.2038 × 5%)
= 5.4% + 6.019%
= 11.419%
Therefore, the required return on this portfolio is 11.419%
(Related to Checkpoint 18.3) (Evaluating trade credit discounts) Determine the annualized cost of forgoing the trade credit discount on the terms of 3/15, net 60 (assume a 360-day year).
Answer: Annualized cost of forgoing Discount = 24.74%
Explanation:
D=discount rate = 3%
N1=umber of days to claim discount = 15
N= Normal days = 60
Annualized cost of forgoing Discount = (D÷(100 -D)) x (360÷(N - N1))
Annualized cost of forgoing Discount = (3%÷(100% - 3%)) x (360÷(60-15)
Annualized cost of forgoing Discount = (3%÷97%) x (360÷45)=0.247422680
Annualized cost of forgoing Discount = 24.74%
Henry, a freelance driver, finds customers using various platforms such as Uber and Grubhub. He is single and has no other sources of income. In 2019, Henry's qualified business income from driving totals $61,200. Assume Henry takes the standard deduction of $12,200.Click here to access the 2019 individual tax rate schedule to use for this problem.Assume the QBI amount is net of the self-employment tax deduction.Compute Henry's QBI deduction and his Federal income tax liability.QBI deduction: $Tax liability (round to the nearest dollar): $
Answer:
Henry's QBI is $9,760
Tax liability = $4,510
Explanation:
The question is to determine Henry's QBI deductions as well as his Federal Income Tax Liability
First we determine his MTI = His net income - His standard deduction
= $61,200 - $12,200
= $49,000
QBI(Qualified Busines Income) Deduction
This will represent the lesser of the following
First = 20% of his Net Income = 0.2 x $61,200 = $12,240
Second= 20% of his MTI = 0.2 x $48,800= $9,800
Henry's QBI is $9,800
Tax Liability Computation
Based on the tax rate for individuals in 2019,
His income tax is as follows
= $970 + (12% x ($49,000-$9,800)- $9,700)
= $970 + $3,540
= $4,510
Complements stimulate the incentive to buy the original product because customers then will have a limited, exclusive supply to use in conjunction with the main product. b. Complements stimulate the incentive to buy the original product because customers will then have a large supply of complements to use in conjunction with the main product. c. Complements tend to be of more importance than the product itself. d. Complements are not as important as the original product.
Answer:
Complements stimulate the incentive to buy the original product because customers then will have a limited, exclusive supply to use in conjunction with the main product.
Explanation:
Complementary goods are goods that are consumed together, so increase in demand for one results in increase in sand for the other. For example sugar and tea are complimentary goods.
It is found that compliments stimulate increased demand of the original product. Let's say we have a lot of sugar we can use with tea and tea level is low at home. The fact that I have a lot of sugar I can use with tea will motivate me to buy more tea, since I already have sugar I can use with it.
Using the substitution theorem and the important equivalences (handout) show the following equivalence. Use only one substitution/equivalence rule (such as absorption) per step and justify each step by name'
Answer:
Explanation:
Commutative laws: p ∧ q ≡ q ∧ p
p ∨ q ≡ q ∨ p
Associative laws: (p ∧ q) ∧ r ≡ p ∧ (q ∧ r)
(p ∨ q) ∨ r ≡ p ∨ (q ∨ r)
Distributive laws: p ∧ (q ∨ r) ≡ (p ∧ q) ∨ (p ∧ r)
p ∨ (q ∧ r) ≡ (p ∨ q) ∧ (p ∨ r)
Identity laws: p ∧ t ≡ p
p ∨ c ≡ p
Negation laws: p ∨ ∼p ≡ t
p ∧ ∼p ≡ c
Double negative law: ∼(∼p) ≡ p
Idempotent laws: p ∧ p ≡ p
p ∨ p ≡ p
Universal bound laws: p ∨ t ≡ t
p ∧ c ≡ c
De Morgan’s laws: ∼(p ∧ q) ≡ ∼p ∨ ∼q
∼(p ∨ q) ≡ ∼p ∧ ∼q
Absorption laws: p ∨ (p ∧ q) ≡ p
p ∧ (p ∨ q) ≡ p
Negations of t and c: ∼t ≡ c
∼c ≡ t
Describe how this parking lot can be interpreted as being a queueing system. In particular, identify the customers and the servers. What is the service being provided
Answer: a. Car Drivers
b. parking spaces
c. Parking
Explanation: A queuing system is a mathematical model used in congestion control. Similar to the physical queues we use daily, it assigns resources (or coffee) to the users of a service based on the arrival time.
A parking lot provides customers (car owners/drivers) with the service of packing their car in an area designated for that sole purpose, so that they don’t get a parking ticket for example.
Here the car drivers are the customers, and the parking spaces available can be viewed as the server. One of the limiting factors in a queuing system is the server. When the servers are idle, service is provided without the need to queue. This changes when they are occupied. When we compare a parking lot to a queuing system, the available spaces are the limiting factor.
"Sherry says, "All the paperwork is filled out wrong. We have to do everything over again." June replies, "No, I see at least three forms that are filled out correctly. We won't have to do it all again. Just most of it, probably." Which of the following statements are know to be true from what is presented above:"
a. Sherry advances a sound deductive argument.
b. Sherry does not advance an argument.
c. Sherry is right and June is wrong.
d. June advances an inductive argument.
e. June advances a deductive argument.
This statement June advances an inductive argument is know to be true from what is presented above
Explanation:
A strong argument is an inductive reasoning that is meant to be strong enough to make it impossible for the conclusion to have been false whether the premises were correct.
Therefore, success or effectiveness of an inductive argument is, unlike deductive argument, a matter of perspective.
Inductive arguments should take vast forms. Some people have the form of making claims on a population or only based on information from either a sample, a subset. Some mediated arguments draw conclusions through an appeal, authority or causal relationship.
You would like to use the fixed-order-interval inventory model to compute the desired order quantity for a company. You know that vendor lead-time is 10 days and the number of days between reviews is 15. Which of the following is the standard deviation of demand over the review and lead-time period if the standard deviation of daily demand is 10?
a. 25
b. 40
c. 50
d. 73
e. 100
Answer:
c. 50
Explanation:
Fixed-order-interval inventory model also known as fixed reorder cycle inventory model is used to manage supply of raw material to a business based on demand of the product. Review of inventory is done by inventory analyst at fixed intervals and of inventory level is above a predetermined reorder level, nothing is done.
If however stock is at or below set reorder level raw material is purchased and is based on the formula- Maximum level - Current level.
In the scenario above we use the following formula
Standard deviation of demand over the review and lead-time period(SD)=Square root of { (Lead time+ Number of days between review)* (Standard deviation of daily demand)^2}
SD= √ {(10+15)*(10)^2}
SD= √ (25* 100)
SD= √2,500
SD= 50
Answer:
c. 50
Explanation:
The calculation of standard deviation is conducted by using the mean of the sample and the number of samples considered. Therefore, based on the data available, the value of the standard deviation of the given demand over the (10+15) 25 days considering the time for both reviews and lead-time is equivalent to :
Standard deviation = [tex]\sqrt{25*100} = \sqrt{2500} = 50[/tex]
One important aspect of the new social contract is:A. Fixed pension benefits have increased significantly.B. Fixed pension benefits have remained a solid incentive for workers.C. Fixed pension benefits have been eliminated in the U.S. by around 90 percent.D. Defined contribution plans provide more returns and less risk.
Answer:C. Fixed pension benefits have been eliminated in the U.S. by around 90 percent.
Explanation: Social contract is a term used in sociology to describe the contractual obligations between different facets or categories of persons in a social setting which enables them to effectively establish a moral,political and economical etc ways of executing or doing things.
When people are in a Social contract with their Government,it means both the Government and the people have certain rights and responsibilities which they have to perform to sustain their relationships.
The three main project management goals are on time, within budget and achieving performance specifications. Should a project manager give up some functionality (e.g. technical requirements) in order to meet schedule milestones and when is this appropriate or inappropriate?
Answer:NO,The project manager should not give up any functionalities like technical requirements as it may lead to serious compromise that can cause serious hazard to the project or end users.
PART B
It is inappropriate at anytime to give up any Functionality(technical requirements) in order to meet schedule milestone.
Explanation:Technical requirements are standard procedures which has been established or put in place by experts or regulators as the best practices to ensure certain projects or Activities are effectively and efficiently done.
TECHNICAL REQUIREMENTS ARE NOT TO BE COMPROMISED IN ANY CIRCUMSTANCES AS IT IS A MAJOR CAUSE OF PROJECT FAILURES AND HAZARDS TO BOTH THE END USERS AND THE PROJECT TEAM MEMBERS.
_____ involves contracting with an outside domestic vendor to provide a product or service to a firm, as opposed to producing the product using employees within the firm.
Answer:
The correct word for the blank space is: Outsourcing.
Explanation:
Outsourcing is a strategy businesses follow by which they take their operations to different countries to contract a company there that acts on the company's behalf just like in its origin country but at lower costs. Avoiding strict regulations is another motive for companies to outsource their operations.
Outsourcing usually carries the disadvantage of poor quality controls which can be detrimental to a firm.
Other things equal, demand tends to be more __________ the more substitutes there are available, and more _________ when the higher the proportion of the consumer’s income spent on the good.
Answer:
Elastic/ Inelastic
Explanation:
Price elasticity of demand is a tool use to measure in economics to show the elasticity, or responsiveness, of the demanded quantity of goods or services to increase in its price. When the price of a good or service changes, inelastic demand is when the buyer's demand does not change when the price of the good or service changes.
Answer:
Elastic, inelastic
Explanation:
Other things equal, demand tends to be more elastic the more substitutes there are available, and more inelastic when the higher the proportion of the consumer’s income spent on the good
One of the factors determining the price elasticity of demand for the good is the number of substitutes. More substitutes equal to more elastic demand.
general, the more good substitutes there are, the more elastic the demand will be. For example, if the price of lux soap went up by $0.25, consumers might replace their soap with a cheaper brand. This means that lux soap is an elastic good because a small increase in price will cause a large decrease in demand as consumers start buying other brands instead of lux soap.
When demand for a good or service is static when its price or other factor changes, it is said to be inelastic. So when the price goes up, consumers will not change their buying habits. The same applies when the price goes down.
A company's interest expense is $9,000. Its income before interest expense and income taxes is $38,250. Its net income is $11,850. The company's times interest earned ratio equals:
(A) 0.235.
(B) 0.76.
(C) 3.23.
(D) 4.25.
(E) 0.31.
Answer:
(D) 4.25.
Explanation:
The company's times interest earned ratio is a financial measure given as the earnings before interest and taxes (EBIT) divided by the total interest payable on debts.
Times interest earned = net income before interest and tax/ Interest payable
= $38,250/$9,000
= 4.25
This means that the company's earnings before interest and taxes can settle its interest 4.25 times.
The following information is available for Waterway Industries for the year ended December 31, 2022.
Beginning cash balance $ 51,750
Accounts payable decrease 4,255
Depreciation expense 186,300
Accounts receivable increase 9,430
Inventory increase 12,650
Net income 326,715
Cash received for sale of land at book value 40,250
Cash dividends paid 13,800
Income taxes payable increase 5,405
Cash used to purchase building 332,350
Cash used to purchase treasury stock 29,900
Cash received from issuing bonds 230,000
Prepare a statement of cash flows using the indirect method. (Show amounts that decrease cash flow with either a sign e.g. - 15,000 or in parent Bonita Industries.)
Answer:
Ending cash balance $438,035
Explanation:
Waterway Industries
Statement of cash flows
For the year ended December 31, 2022
Net income $326,715
Cash flow from operating activities:
Depreciation expense 186,300
Accounts payable decrease (4,255)
Accounts receivable increase (9,430)
Inventory increase (12,650)
Income taxes payable increase 5,405
165,370
Net cash provided by operating activities = 492,085
Cash flow from investing activities :
Cash received for sale of land 40,250
Cash used to purchase building (332,350)
Net cash used by investing activities (292,100)
Cash flow from financing activities:
Cash dividends paid (13,800)
Cash used to purchase treasury stock (29,900 )
Cash received from issuing bonds 230,000
Net cash provided from financing activities 186,300
Net changes in cash 386,285
Beginning cash balance 51,750
Ending cash balance $438,035
Waterway Industries
Statement of cash flows
For the year ended December 31, 2022
Net income $326,715
Cash flow from operating activities:
Depreciation expense 186,300
Accounts payable decrease (4,255)
Accounts receivable increase (9,430)
Inventory increase (12,650)
Income taxes payable increase 5,405
Net cash provided by operating activities 492,085
Cash flow from investing activities :
Cash received for sale of land 40,250
Cash used to purchase building (332,350)
Net cash used by investing activities (292,100)
Cash flow from financing activities:
Cash dividends paid (13,800)
Cash used to purchase treasury stock (29,900 )
Cash received from issuing bonds 230,000
Net cash provided from financing activities 186,300
Net changes in cash 386,285
Add: Beginning cash balance 51,750
Ending cash balance $438,035
Learn more: brainly.com/question/6201432
Two different manufacturing processes are being considered for making a new product. The first process is less capital-intensive, with fixed costs of only $50,000 per year and variable costs of $700 per unit. The second process has fixed costs of $400,000 but has variable costs of only $200 per unit. a. What is the break-even quantity beyond which the second process becomes more attractive than the first
Answer:
700 units
Explanation:
FC1 : Fixed Costs from process 1
VC1 : Variable cost per unit from process 1
FC2 : Fixed Costs from process 2
VC2 : Variable cost per unit from process 2
FC1 = $50,000
VC1 = $700 per unit
FC2 = $400,000
VC2 = $200 per unit
To calculate the break-even (quantity) point we must equate the TC1 (Total cost of process 1) to TC2 (Total cost of process 2)
TC1 = TC2
FC1 + VC1(y) = FC2 + VC2(y) where y is the break-even units
50,000 + 700y = 400,000 + 200y
500y = 350,000
y = 350,000 / 500
y = 700 Units
Answer:
700 units
Explanation:
fixed cost for first process ( F₁ ) = $50000
variable costs of first process ( V₁ ) = $700
fixed cost of second process ( F₂ ) = $400000
variable cost of second process ( V₁ ) = $200
break-even quantity ( y ) = ?
note : variable costs are costs that vary/change as the quantity of goods and services produced changes
A) the break-even quantity beyond which the second process can be calculated by equating the total costs of both processes
F₁ + V₁ ( y ) = F₂ + V₂( y )
50000 + 700 y = 400000 + 200 y
500 y = 400000 - 50000
therefore y = 700 ( break even quantity beyond which the second process is attractive )
When Job 117 was completed, direct materials to ob 117 was completed, direct materials totaled $4.400: direct labor, $5,600, and factory overhead, $2,400. A total of 1.000 units were produced at a per-unit cost of
a. $12,400
b. $1,240
c. S124
d. $12.40
Answer:
The correct answer is D.
Explanation:
Giving the following information:
direct materials totaled $4,400
direct labor, $5,600
factory overhead, $2,400.
A total of 1,000 units were produced
First, we need to calculate the total cost:
Total cost= direct material + direct labor + allocated overhead
TC= 4,400 + 5,600 + 2,400= $12,400
Now, we can calculate the unitary cost:
Unitary cost= 12,400/1,000= $12.4
Answer:
d. $ 12.40
Explanation:
Computation of Per Unit Cost
Direct materials $ 4,400
Direct labor $ 5,600
Factory Overhead $ 2,400
Total manufacturing costs $ 12,400
Units produced 1000 units
Cost per unit = Total manufacturing costs/ No of Units produced
Cost per unit = $ 12,400 / 1000 = $ 12.40 per unit
Under SEC rule 606 of regulation NMS, broker-dealers are required to compile statistical information on routing of customer non-directed orders to market venues, and make this information avaialable to customers:__________
Options:
A. monthly
B. quarterly
C. semi-annually
D. annually
Answer:B. Quarterly
Explanation:SEC(security and exchange commission) is an agency established by Government to regulate the activities of companies that sale Securities,Stock markets and self-regulatory Organisations.
Security and exchange commission ensures that it puts guidelines and rules to ensure that market players do business according to the best practices devoid of criminal activities.
Security and exchange commission rule 606 of regulation NMS, broker-dealers are required to give QUARTERLY REPORT AVAILABLE TO CUSTOMERS BY COMPILING STATISTICAL INFORMATION ON ROUTING OF CUSTOMER NON-DIRECTED ORDERS TO MARKET VENUES, AND MAKE THIS INFORMATION AVAILABLE TO CUSTOMERS.
Assume the following costs in each of the categories identified in question one are: Packaged (Cans & Bottles) $127,361 Kegs $69,856 Shrinkage/WIP Loss $42,000 Contract Labor $9,000 Direct Labor $240,000 Freight $18,000 Consumer Advertising $30,000 Trade Promotion $30,000 Sales Promotion $18,000 Salaries & Benefits $180,000 What is Shannon's cost of goods sold?
Answer:
Explanation:
Computation of Cost of Goods Sold:
Particular Amount
Packaged (Cans & Bottles) $127,361
Kegs $69,856
Work In Progress Loss $42,000
Contract Labor $9,000
Direct Labor $240,000
Freight $18,000
Cost of Goods Sold $506,217
Note: All of these are not included in Cost of good sold
Consumer Advertising $30,000
Trade Promotion $30,000
Sales Promotion $18,000
Salaries & Benefits $180,000