Answer:
$686,000
Explanation:
net service revenue = gross revenue - discount for early payment
gross revenue = total sales price - trade discount
gross revenue = $800,000 - $100,000 = $700,000
net service revenue = $700,000 - 2%($700,000) = $700,000 - $14,000 = $686,000
The normal distribution tends to be a better approximation of the distribution of total time for shorter projects where the critical path has relatively few activities. a) True b) False
Answer:
The corret answer is False.
Explanation:
The normal distribution is a bell-shaped distribution where successive standard deviations from the mean establish reference values to estimate the percentage of data observations. These reference values are the basis of many hypothesis tests, such as the Z and t tests.
20.While reconciling the checking account, an accountant with Sonic Corporation noticed that an error had been made in recording a check received by the company. Sonic recorded the receipt as $729 and the correct amount of the check was $279. What reconciling adjustment is required
Answer:
You need to deduct $450 from the company's cash balance. Since the check was received from a client, it covered an accounts receivable, so the adjusting entry should be as follows:
XX/YY, adjusting entry to reconcile checking account:
Dr Accounts receivable 450
Cr Cash 450
Accounts receivable and cash both have debit balances, and since you want to increase accounts receivable you must debit it, while you must credit cash in order to decrease it.
"The reconciling adjustment required is a decrease of $450.
To determine the reconciling adjustment, we need to calculate the difference between the incorrect amount recorded by Sonic Corporation and the correct amount of the check.
The incorrect amount recorded was $729, and the correct amount of the check was $279. The difference between these two amounts is calculated as follows:
Incorrect amount - Correct amount = Adjustment
$729 - $279 = $450
Since the incorrect amount was greater than the correct amount, the adjustment will be a decrease of $450 to correct the error. This means that Sonic Corporation recorded $450 more than the actual amount received. To reconcile the checking account, this overstatement must be adjusted by reducing the recorded amount by $450."
A restaurant owner leased a meeting room at the restaurant to a second party. The lease specified that the second party, not the restaurant owner, would be responsible for any liability arising out of the use of the meeting room, and that the restaurant owner would be "held harmless" for any damages. The restaurant owner's use of the hold-harmless agreement in the lease is an example of:___________.a. Warning labels on packaging for medications. b. A firm installs sprinkler systems. c. Exercising to maintain your health. d. Storing backup copies of records in the cloud.
Answer:
A.Warning labels on packaging for medications
Explanation:
According to the question, the restaurant owner shifted the risk or liability to the second party, and this is similar to the answer chosen where the drug manufacturer prints warning labels on the medication in case if the drug is misused or abused in any form they would not be held accountable.
This process is known as Non-insurance Transfer
A non-insurance transfer also known as contractual risk transfer, is the transfer of risk from one person or entity to another by way of something other than a policy of insurance. Most commonly, the techniques used involve hold harmless, indemnity, and insurance provisions in contracts.
When tobacco companies make a decision to follow laws regarding the marketing of its products in the United States but market its tobacco aggressively in countries without such regulations, this is an example of which approach to social responsibility?
Answer:
The Defensive Approach
Explanation:
There are four basic approaches to social responsibility:
1. Obstructive
2. Defensive
3. Accommodating
4. Proactive
1. The obstructive method is where the company is not concerned about social responsibility at all. Profit is their main motive and when they are faced with any social obligation or have violated social rights, they may not only deny any wrongdoing but also make attempts to delay or divert investigations into their company.
2. Under the defensive approach, they follow rules and regulations to prevent any law suits or legal actions against them. However, if there are no laws present to stop them, they will not be reluctant to perform wrongdoings. This is the case in the example where since laws are present in the US, it is being followed but anywhere else, the company fails to refrain from causing harm.
3. Accommodating approach is whereby companies not only meet legal standards but also try to fulfill their ethical obligations. They are transparent about what the company does and why it takes certain measures.
4. A proactive company ensures to make social responsibility a priority, sometimes even sacrificing its profits in the process. It makes CSR practices a major part of its mission statement.
A firm has a fixed cost of $500 in its first year of operation. When the firm produces 100 units of output, its total costs are $4,500. The marginal cost of producing the 101st unit of output is $300. What is the total cost of producing 101 units
Answer:
$4,800
Explanation:
At 100 units output
Fixed cost= $500
Total cost=$4,500
At 101 units output
Fixed cost=$500
Fixed cost remains constant during production process
Marginal cost= $300
Total cost(101 units)= TC(100 units) + marginal cost of 101 units
= $4,500+$300
TC(101 units)= $4,800
Final answer:
To calculate the total cost of producing 101 units, add the variable cost of producing 100 units to the marginal cost of producing the 101st unit.
Explanation:
To calculate the total cost of producing 101 units, we need to understand the concepts of total cost and marginal cost. Total cost is the sum of fixed costs and variable costs. Marginal cost is the additional cost incurred by producing one more unit of output.
In this case, the fixed cost is $500. When the firm produces 100 units, the total cost is $4,500. Therefore, the variable cost of producing 100 units is $4,500 - $500 = $4,000.
The marginal cost of producing the 101st unit is given as $300. Since the marginal cost is the cost of producing one more unit, the total cost of producing 101 units would be the sum of the variable cost of producing 100 units ($4,000) and the marginal cost of producing the 101st unit ($300). Thus, the total cost of producing 101 units would be $4,000 + $300 = $4,300.
A client has a Cash Account at a broker-dealer and one week ago was sold out of a position for failure to make prompt payment. The customer has now decided to buy 100 shares of ABC common stock @50. This client will be required to:________.
A client has a Cash Account at a broker-dealer and one week ago was sold out of a position for failure to make prompt payment. The customer has now decided to buy 100 shares of ABC common stock 50. This client will be required to
[A] make the required Reg T 50% deposit using regular-way settlement.
[B] make the required payment in full for the purchase using regular-way settlement.
[C] make the required payment in full for the purchase prior to entering the order because the account would be frozen.
[D] wait 90 days prior to entering the order to buy the stock because the account would be frozen.
Answer:This client will be required to make the required payment in full for the purchase prior to entering the order because the account would be frozen.
Explanation:If someone has been traded out for failure to make the immediate payment that the record must be halted for 90 days. When a report is prohibited for 90 days the will keep sufficient cash to reach the entire trade value ere the order to purchase is entered. Since this is a Cash account, they will not be permitted to invest 50% of the acquisition price, as this is just conceded in a margin account.
The record is prohibited so the would not be entitled to obtain payment practicing a regular way settlement. When a record is prohibited , they must deposit funds ere registering orders to purchase but are not prevented from obtaining purchases.
A service contract for a video projection system costs $80 a year. You expect to use the system for four years. Instead of buying the service contract, what would be the future value of these annual amounts after four years if you earn 2 percent on your savings
Final answer:
The future value of the annual amounts after four years if you earn 2 percent on your savings would be approximately $334.97.
Explanation:
To calculate the future value of the annual amounts, we can use the formula for future value of an annuity:
FV = P * [(1 + r)^n - 1] / r
Where:
FV = future value
P = payment per period
r = interest rate per period
n = number of periods
In this case, the payment per period is $80, the interest rate per period is 2% (0.02), and the number of periods is 4. Plugging in these values into the formula:
FV = 80 * [(1 + 0.02)^4 - 1] / 0.02
By solving this equation, the future value comes out to be $334.97. So, the future value of the annual amounts after four years if you earn 2 percent on your savings would be approximately $334.97.
The National Independent Automobile Dealers Association (NIADA) comprises 50 largely independent state-level organizations that provide membership benefits to car dealers. NIADA is an example of a group with a ________ organizational structure.
Answer:
confederal
Explanation:
Confederal organisation structure is a union of sovereign groups that come together for a common purpose. It is characterised by a weak central structure with the group's being independent.
Distribution of power among the group's is variable. Decisions made are as a.result of consensus between parties involved.
In the scenario the National Independent Automobile Dealers Association (NIADA) is made up of 50 largely independent state-level organizations.
They come together to provide membership benefits to car dealers.
The is a form of confederal organisation structure.
For the month of May 2020, Ceres Corporation, which uses the direct write-off method in accounting for uncollectible accounts receivable, has the following information: Cash sales $40,000 Cash received on accounts receivable $32,000 Accounts receivable, May 1, 2020 $105,000 Accounts receivable, May 31, 2020 $92,000 Accounts receivable written off as uncollectible $2,000 What are the gross sales for May 2020
Answer and Explanation:
$61,000 = 40000+32000-13000+2000
Find the difference between the beginning and ending accounts receivable.
$105,000 - $92,000 = $13,000
Subtract this from the cash received on accounts receivable to find the amount of credit sales.
$32,000 -$13,000 = $19,000
Add this to the cash sales.
$19,000 + $40,000 = $59,000
Adjust for the direct write offs.
$59,000 + $2,000 = $61,000
Answer:
$61000
Explanation:
Gross sales refers to the total number of sale transactions that occurred in a given period. From the given data,
Difference between ending (may 31) and beginning (may 1) account receivables
= 105000 - 92000
= $13,000
Next, cash received on accounts receivable is subtracted from $13,000 to find the amount of credit sales.
Thus,
32,000 - 13,000 = $19,000
This is added to the cash sales of 40,000
Thus,
19,000 + 40,000 = $59,000
Adjust for the direct write offs
Therefore
Sales + Uncollectible = gross sales
59000 + 2000
= $61000
Suppose that when the price per ream of recycled printer paper rises from $4 to $4.50, the quantity demanded falls from 800 to 600 reams per day. Using the midpoint formula, what is the price elasticity of demand (in absolute value) over this range? Group of answer choices
Answer: The answer is -2.42
Explanation:
P1 = $4 Q1 = 800
P2 = $4.50 Q2 = 600
Using the midpoint formula, we have:
For price:
P2 - P1/(P2 + P1)/2
= 4.5 - 4/(4.5 + 4)/2
= 0.5/4.25
= 0.12
For quantity:
Q2 - Q1/(Q2 + Q1)/2
= 600 - 800/(600 + 800)/2
= -200/700
= -0.29
Price elasticity of demand = change in quantity/change in price
= -0.29/0.12
= -2.42.
Answer:
2.43
Explanation:
Given that
P1 = 4
P2 = 4.50
Q1 = 800
Q2 = 600
Recall that
Using midpoint formula
% change in quantity = [Q2 - Q1/(Q2 + Q1) ÷2] × 100
= 600 - 800/600 +800 ÷ 2 × 100
= -200/700 × 100
= 28.57%
% change in price = [P2 - P1/(P2 + P1) ÷ 2] × 100
= 4.50 - 4/4.50 + 4 ÷ 2 × 100
= .50 / 4.25 × 100
= 11.76%
Price elasticity of demand = %change in quantity ÷ % change in price
= 28. 57 ÷ 11.76
= 2.429
= 2.43
When the economy suffers a downturn and the incomes of many people decrease, vacationers are more likely to take car trips than to fly. Which statement provides one possible explanation for this phenomenon?
Answer: Air travel is a normal good and vacation travel by car is an inferior good
Explanation: What is a normal good and what is an inferior good.
Normal goods are those goods for which the demand rises as consumer income rises. While inferior goods are goods whose demand increases when consumer income decreases.
This therefore means that the demand of inferior goods is inversely related to the income of the consumer.
From the question above, we can say that car trips are inferior goods while the air travel are normal goods.
Answer:incomes are decreasing and so is air travel, Air travel is normal good.The decrease in income results in more car trips, making it an interior good
Explanation:NORMAL GOOD:When a rise in income increases the demand for the good.
INFERIOR GOOD:When a rise in income decreases the the demand for the good.
The best strategic alliances are those which help a company move quickly from one strategic group to another. aim at raising an industry's barriers to entry. are those whose purpose is to create an industry key success factor. are highly selective, focusing on particular value chain activities and on obtaining a particular competitive benefit. involve joining forces in R&D to develop new technologies cheaper than a company could develop the technology on its own.
Answer:
TRUE
Explanation:
Companies enter into strategic global business alliances for variety of reasons. One of the most important reasons is to gain access to another company's knowledge or resources. Companies can also decide to join forces to develop new products or to enter a market that neither could enter alone.
The best strategic alliances are those which help a company move quickly from one strategic group to another.
1. aim at raising an industry's barriers to entry.
One characteristic of strategic alliance is that a well-conceived alliance can mean a head start in a market, possibly even preventing other competitors from entering.
2, are those whose purpose is to create an industry key success factor.
Forming strategic alliances is one approach to establishing standards in an industry.
3. are highly selective, focusing on particular value chain activities and on obtaining a particular competitive benefit.
Strategic Alliances involves sharing research and development costs and facilities provides good value for money, while sharing expertise can speed up the process. The sharing of expertise is to obtain a particular competitive benefit.
4. involve joining forces in R&D to develop new technologies cheaper than a company could develop the technology on its own.
As stated in point 3 above, Sharing research and development costs and facilities provides good value for money, while sharing expertise can speed up the process.
Which of the following steps of the training design process involves person and task analysis? a. developing an evaluation plan b. conducting needs assessment c. monitoring and evaluating the program d. ensuring transfer of training
Answer:
The correct answer is: b. conducting needs assessment.
Explanation:
Needs assessment often begins with a rigorous analysis of existing processes. This process will identify deficiencies and potential areas for improvement. Having identified the improvement needs, an analysis of the available technology, including an investigation of the methods used by other authorities, may indicate that there are one or several technological solutions to those needs.
At this stage it is possible to follow different consultation courses simultaneously:
Technical advisors can determine if the proposed technological solution is appropriate for the purpose set.
Financial advisors can estimate its cost and determine if it is affordable (see Affordable Prices and Budgeting).
Project administrators can determine if there is support within the electoral body for incorporation.
Senior officers may consult interested parties regarding the proposed change, if appropriate.
Alternative solutions can be explored to determine if there are less expensive or more effective options - not necessarily all solutions must be technological.
At the end of the needs assessment, there is likely to be a solid understanding of the need for change and a clear indication of the most appropriate option to meet the needs. This information can be used to prepare the next phase of the project development and implementation strategy, the business plan.
A company has decided that it no longer needs to extensively count and inspect the products it buys from a particular supplier. This suggests that the buying company has is in the volume consolidation stage of developing procurement strategy.
Answer: False
Explanation:
The VOLUME CONSOLIDATION Stage is where a company attempts to reduce the number of suppliers that it has and consolidates the volume of sales it does through them.
This strategy helps in having a better relationship with suppliers as well as earning a claim on their business which would go a long way in price negotiation.
Donald buys a subscription to a national magazine that gives him two years for the price of one year. After the two years expire, Donald continues to receive the magazine for six more months, although he has not subscribed again. The magazine then sends Donald a bill for the magazines he received after the expiration of his subscription. Donald:__________.a. owes nothing.b. can be fined for failing to return the magazines.c. owes half of the bill.d. owes the full amount.
Answer: A (Owes nothing)
Explanation:
Donald subscribed to a magazine that gave him two years for a year. Even though after the subscription expired the second year, he was still given the magazine for six months despite the fact that he didn't subscribe, Donald does not owe the national magazine company.
It was not his fault that he was sent magazines after his subscription expired and hence is not liable to pay any amount to the company. It's their loss and mistake and he should not be held responsible for their mistake.
Gail is a single elementary school teacher. She buys the following items for use in her classroom in 2019: Construction paper and tissues $45 Materials for decorating the classroom bulletin boards $200 Artist’s smock used for in-class finger painting $30 12 Dozen erasers $15 What amount can Gail deduct either as a for or from AGI deduction in 2019? a. $250 as a for AGI deduction and $0 as a from AGI deduction b. $250 as a for AGI deduction and $40 as a from AGI deduction c. $290 as a for AGI deduction and $0 as a from AGI deduction d. $250 as a for AGI deduction and $30 as a from AGI deduction (subject to 2% of AGI)
Answer:
A) $250 as a for AGI deduction and $0 as a from AGI deduction
Explanation:
Due to the Tax Cuts and Jobs Act, a teacher can only deduct classroom expenses up to $250.
The $250 are above the line deductions that lower your adjusted gross income (AGI), while the $0 represents below the line deductions made once your total AGI has been calculated.
Final answer:
Gail can deduct $250 as a for AGI deduction for the classroom expenses she incurred in 2019, with no remaining amount claimable as a from AGI deduction.
Explanation:
Gail, an elementary school teacher, is considering what amount she can deduct for classroom expenses from her adjusted gross income (AGI) in 2019. The expenses she incurred include construction paper, tissues, materials for decorating classroom bulletin boards, an artist’s smock, and erasers totaling $290. The IRS allowed educators to deduct up to $250 for unreimbursed business expenses as an above-the-line (for AGI) deduction on their 2019 tax return. This means Gail can deduct $250 as a for AGI deduction. Since her total expenses were $290 and she can only deduct $250, there would be no remaining deduction eligible to be claimed below the line (from AGI).
In CVP analysis, the term "cost":
only manufacturing costs.
includes manufacturing costs plus selling and administrative expenses.
means cost of goods sold.
excludes all fixed manufacturing costs.
Answer:
The correct answer is: includes manufacturing costs plus selling and administrative expenses.
Explanation:
The CVP analysis works as a tool for planning and decision making, as it indicates the relationship of costs, sales and price, also identifies the scope and magnitude of the economic problems facing a company as well as its possible solution, also It allows you to perform a sensitivity analysis by examining the impact of various levels of prices or costs on profits.
Costs refer to the fixed and variable costs incurred by the company. Each business has fixed and variable costs. Fixed costs are usually the general expenses incurred by the company, regardless of the number of products it produces or sells. Variable costs change depending on the business activity. CVP (cost volume utility) analyzes typically use the variable cost per unit of product manufactured and sold.
In CVP analysis, 'cost' constitutes manufacturing costs along with selling and administrative expenses. It includes all costs associated with the production and sales of a product, and is utilized to calculate profitability and break-even points.
Explanation:In CVP analysis (Cost-Volume-Profit analysis), the term 'cost' includes manufacturing costs plus selling and administrative expenses. This approach recognizes all types of expenses associated with producing and selling a product or service. Examples might include, raw material costs, labor expenses, marketing expenses, and facility overheads. Thus, the term 'cost' in CVP analysis also factors in fixed, variable, and semi-variable costs, making it more comprehensive when analyzing the profitability and break-even points of a business.
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Vernon spends the following percentages of his budget on the following goods: 23 percent on good A, 11 percent on good B, 1 percent on good C, and 3 percent on good D. For which good is price elasticity of demand the highest, ceteris paribus?a. good A.
b. good B.
c. good C.
d. good D.
Answer:
A) good A.
Explanation:
Good A represents the highest percentage of Vernon's budget, so naturally any price change related to good A will affect Vernon greatly and may cause him to change the quantity purchased of that good. Even the price of substitutes or complements of that good will have a large impact in Vernon's purchase decisions.
In the simple Keynesian model, Multiple Choice Inflation becomes a problem only if demand increases at full employment. Inflation is a problem whenever demand increases. Inflation is never a problem. Inflation is a problem whenever demand decreases.
Answer:
In the simple Keynesian model, inflation becomes a problem only if demand increases at full employment.
Explanation:
In the Keynesian view, price inflation is mainly the result of relative changes in supply and demand, which lead to price changes. Changes in the money supply have no direct influence here. According to this school, the money supply is the result of money creation by the banking system; but this plays only a limited role in the process.
In this vision, a distinction is made between:
- Demand inflation: Inflation occurs when the aggregated demand for goods and services increases, with an initially constant supply.
-Cost inflation: Inflation occurs if there is a sudden decrease in supply when demand remains the same.
Ed is looking over the actual results of projects and comparing them to what was estimated. He notices that projects that took six months or longer to complete were noticeably more off the estimates. Which of the following factors is he recognizing?
A. Padding estimates
B. Planning horizon
C. Project structure
D. People
E. Organization culture
Answer:
B. Planning Horizon
Explanation:
Planning horizon is the time period estimated for a project when preparing a strategic plan. It is the time frame that is required for a specific amount of work that is scheduled based on requirements and resource availability. In this case, Ed notices that the project took 6 or more months to complete. Therefore they were very off in their planning horizon as the estimated time frame giving the project requirements and resource availability was 6 or more months off.
Final answer:
Ed is noticing the effect of the planning horizon on project estimates, where projects with longer durations are more likely to deviate from initial estimates due to increased uncertainty and variables over time.
Explanation:
Ed is recognizing the impact of the planning horizon on project estimates. The planning horizon refers to the timeframe for which an activity or project is being planned. The further out into the future an activity is, the harder it is to estimate accurately due to increasing variables and uncertainties. The longer the planning horizon, the greater the margin of error in the estimates, which is especially true for sequential methods of project management. This contrasts with iterative methods, where the focus is on estimating shorter, upcoming activities, thereby reducing uncertainty.
Adjustment of estimations throughout the project is important based on what is learned from completed tasks. Utilizing historical data and expertise can improve the accuracy of estimates. For longer projects, such as those extending beyond six months, there is a greater probability of deviation from initial estimates, highlighting the need for ongoing review and adjustment.
James owns two houses. He rents one house to the Johnson family for $10,000 per year. He lives in the other house. If he were to rent the house in which he lives, he could earn $12,000 per year in rent. How much do the housing services provided by the two houses contribute to GDP?
Answer:
$22,000
Explanation:
Given that
1st house rented = 10,000
2nd house estimated rent = 12,000
Therefore,
The two houses would contribute
= 10,000 + 12000
= $22,000
Note: Rent is considered as consumption and as a result, rent is added into the GDP. Also, in GDP estimation, imputed rent which is the amount a house owner is willing to rent a house away for if he decides to is calculated as part of the GDP.
Final answer:
The two houses owned by James contribute $22,000 to GDP; this includes $10,000 from actual rent and an estimated $12,000 that represents the potential rent of the house he occupies.
Explanation:
James owns two houses: one that he rents to the Johnson family for $10,000 per year and another in which he lives that, if rented out, would earn $12,000 per year.
To determine how much the housing services provided by the two houses contribute to GDP, we must add the actual rent received for the first house and the potential rent of the second house.
According to the Department of Commerce, when calculating GDP, the rental value of owner-occupied homes is estimated and included, even if those services were not exchanged in the marketplace.
Therefore, the contribution of the two houses to the GDP is the sum of the actual rent received and the estimated rent that could be received if the owner-occupied house was rented out.
This means the houses contribute $10,000 + $12,000 = $22,000 to the GDP.
Each year, a cyber cafe charges its customers a base rate of $25, with an additional $0.30 per visit for the first 50 visits, and $0.10 for every visit after that. How much does the cyber cafe charge a customer for a year in which 72 visits are made?
Answer:
$42.2
Explanation:
The base rate is $25
The first 50 visits cost $.30 per visit. The total for the first 50 visits will be:
50 X $.30
= 50 x 0.30 =$15
After the first 50 visits, the customer pays $.10 per visit. The no. of visits after 50 will be 72- 50.
Costs after 50 visit will be 22 X .10
=22 x .10= $2.2
The total amount the customer will pay is $25 + $15 + $2.2
=$42.2
Final answer:
The total charge for a customer making 72 visits in a year to the cyber cafe is $42.20. This includes a base rate of $25, $15 for the first 50 visits, and $2.20 for the remaining 22 visits.
Explanation:
To calculate the total annual cost for a customer who makes 72 visits to the cyber cafe, we must first calculate the charges for the first 50 visits and then for the remaining visits. The first 50 visits are charged at $0.30 per visit and the subsequent visits are charged at $0.10 per visit.
The cost for the first 50 visits is 50 visits × $0.30/visit = $15.00. For the 22 additional visits (72 total visits - 50 initial visits = 22 additional visits), the cost is 22 visits × $0.10/visit = $2.20.
Now, we add the base rate of $25 to the costs of the visits:
Base rate: $25.00
Cost for first 50 visits: $15.00
Cost for additional 22 visits: $2.20
Total cost for 72 visits: $25.00 + $15.00 + $2.20 = $42.20
Therefore, the cyber cafe charges a total of $42.20 for a customer who makes 72 visits in a year.
Marketers provide value to the consumer and other stakeholders by doing all of these with their offerings except which?
Answer:
Financing
Explanation:
The reason is that all the other options are the knowledge and information which the company wants to operate in the market and the marketers provide this information. Whereas on the other hand, Financing is not an information and the company never seek finance from the marketers. The company has better options to seek finance and these options include raising funds through bank or stock exchange.
The employees of Leicester Services, Inc. worked the last two weeks of December 2016. They receive their paychecks on January 2, 2017. Which of the following accounts should appear on the income statement for the year ended December 31, 2016?
a. Salaries Expense
b. Prepaid Expense
c. Salaries Payable
d. Unearned Revenue
Answer:
C. Salaries Payable
Explanation:
Salaries payable are the statements of liability which include sums of any employees ' salaries that have not yet been paid.The balance in the account reflects a company's payroll obligation as of the balance sheet date. This account is known as an existing liability, as such charges are typically due in less than a year. In any of the cases the amount of payable salaries may be particularly high: there is a significant gap between the due date and the end of the reporting period; or the amount of salaries paid to all persons within the reporting period
The budgeted annual cost of operating a post office truck is $5,500 plus $0.50 per mile. In 2008 the truck was to be driven 25,000 miles uniformly to deliver various mail items throughout the year. Two employees are needed for each truck. The total cost of operating a truck would be
Answer:
The total cost of operating a truck would be $18000 as calculated below.
Explanation:
The total costs of operating the truck is a combination of fixed costs of $5500 per year and variable of $0.50 per mile ,hence the total cost function is given as:
TC=5500+0.50X
Where represents the number of miles driven per year.
Since X=25000 miles
TC=$5500+($0.50*25000)
TC=$5500+$12500
TC=$18000
The understanding here is that wages paid to the two employees working with the truck is already embedded in the fixed costs of $5500 per year, otherwise that would been given as a distinct cost entirely.
Crayon, a well-established beauty products company, partnered with the Lenora Birdstone Foundation, a nonprofit organization, to raise awareness about breast cancer and collect funds for setting up a cancer unit at a local hospital. The company accumulated a sum of $5 million by selling organic creams to more than 2,000 people. In this scenario, Crayon was most likely involved in _____.
Answer:
a cause-related marketing
Explanation:
Cause related marketing is one that it's primary goal is to promote a cause.
It involves a collaboration between a business and a non profit organisation that is mutually beneficial. In promoting the cause the business makes profit while the nonprofit organisation's cause is promoted. An example is when American Express launched a campaign in 1983 to raise money for restoration of Statue of Liberty.
Crayon partnering with the Lenora Birdstone Foundation, a nonprofit organization, to raise awareness about breast cancer and collect funds for setting up a cancer unit at a local hospital, is a form of cause related marketing.
An independent grocer who wants to know if cocktail and tartar sauce would sell better if the two products were moved from the salad dressing section of the store to a display next to the seafood selection would most likely use ________ research.
Answer:
Causal
Explanation:
An independent grocer who wants to know if cocktail and tartar sauce would sell better if the two products were moved from the salad dressing section of the store to a display next to the seafood selection would most likely use causal research. Causal research is also known as explanatory research, where we investigate the nature and extent of cause and effect relationship between certain variables. We try to evaluate the effect of one variable on another variable as it has been seen in this given scenario. In this type of research, we focus to evaluate a situation or particular issue and problem under a controlled settings and environment and explain the relationship between the different variables involved in that issue or problem
Final answer:
The independent grocer likely needs to conduct market research, potentially through an experiment or cross-sectional research, to assess the impact of moving cocktail and tartar sauce next to the seafood selection on sales.
Explanation:
An independent grocer who wants to know if cocktail and tartar sauce would sell better if moved next to the seafood selection is likely to use market research. This type of research involves gathering information about consumers' needs and preferences. It can take various forms, such as surveys, questionnaires, observations, or analyzing sales data before and after the change in product placement.
To understand the potential impact of the product move, the grocer might conduct an experiment by placing the products next to the seafood selection for a set period and measuring any changes in sales against a control period where the sauces remained in the salad dressing section.
Additionally, methods such as cross-sectional research could provide insight into customer preferences by comparing different customer segments at the same time. This approach can offer a snapshot of customer behavior and preferences regarding product placement.
A real estate licensee was representing a buyer. At their first meeting, the buyer explained that he planned to operate a dog grooming business out of any house he bought. The licensee did not check the local zoning ordinances to determine in which parts of town such a business could be conducted. Which agency duty did the licensee violate?
Answer:
The Duty of Care has been violated
Explanation:
There are six common law fiduciary duties which the investor and buyer must consider before he go ahead and these are:
CareObligationLoyaltyDisclosureAccounting ConfidentialityThe licensee didn't checked the local zoning ordinance for dog grooming which means first principle "Care" has been violated here because the licensee doesn't bother to see if it might affect the normal life of the people around his business.
Marigold Company reports the following costs and expenses in May. Factory utilities $16,200 Direct labor $73,000 Depreciation on factory equipment 14,350 Sales salaries 51,000 Depreciation on delivery trucks 4,300 Property taxes on factory building 2,800 Indirect factory labor 50,700 Repairs to office equipment 1,400 Indirect materials 82,800 Factory repairs 3,040 Direct materials used 141,700 Advertising 16,800 Factory manager’s salary 8,100 Office supplies used 3,630 From the information:
Answer:
A. Manufacturing Overhead = $177,990
B. Product Costs = $214,700
C. Period costs = $77,130
Explanation:
A. Manufacturing overhead is the combination of indirect labor, indirect cost, and indirect material.
Manufacturing overhead Amount
Factory utilities $16,200
Depreciation on factory equipment $14,350
Property taxes on factory building $2,800
Indirect factory labor $50,700
Indirect materials used $82,800
Factory repairs $3,040
Factory manager's salary $8,100
Total $177,990
Requirement B
B. Product cost is the cost that is directly aligned with the product. Alternatively, more precisely, it can be traceable with the manufacturing of a product. It is a combination of direct material and direct labor.
Product Cost Amount
Direct labor $73,000
Direct materials used 141,700
Total Product cost $214,700
Requirement C
C. Period cost is the cost that is not directly required to produce a product. However, that cost is necessary to measure the total cost incurred for a product manufactured. The example of product cost includes sales commission, office rent, and advertising expense.
Period Cost Amount
Sales salaries $51,000
Depreciation on delivery trucks 4,300
Repairs to office equipment 1,400
Advertising 16,800
Office supplies used 3,630
Total Period costs $77,130
Omega corporation and precision products, inc., are the principal suppliers of their product in their market. they agree that omega will sell exclusively to retailers and precision will sell exclusively to wholesalers. under the sherman act, this is
Answer:
A per se violation
Explanation:
A per se violation is one that violates antitrust laws for example agreements made that violates the Sherman antitrust act. It has adverse effects on the competitiveness of a market.
Sherman antitrust act of 1980 is aimed at regulating competitiveness in a market. It prohibits anticompetitive agreements, and unilateral activities that tries to monopolize a market.
In this scenario Omega corporation and precision products, inc., are the principal suppliers of their product in their market. They make an agreement that one will focus on retailers and the other on wholesalers.
This is an attempt to monopolize the market by the two principal suppliers, and is a violation of the Sherman antitrust act.