The theory of Purchasing Power Parity predicts that a haircut costing 15 dollars in Dallas, given an exchange rate of 1 euro to 1.5 dollars, should cost 10 euros in Paris. Similarly, a wheel of cheese costing 20 euros in Paris should cost 30 dollars in Dallas.
Explanation:According to the theory of Purchasing Power Parity (PPP), the exchange rate between two countries should equate the cost of a similar basket of goods in both countries. In simpler terms, a haircut or a wheel of French cheese should cost the same regardless of whether you're in Dallas or Paris, after converting currencies.
Given the exchange rate of 1 euro to 1.5 U.S dollars, a haircut that costs 15 dollars in Dallas should cost 10 euros in Paris. This result can be ascertained by dividing the dollar cost by the exchange rate (15 / 1.5 = 10 euros).
Similarly, a wheel of French cheese that costs 20 euros in Paris should cost 30 dollars in Dallas. This is done by multiplying the euro cost by the exchange rate (20 * 1.5 = 30 dollars).
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Which level of the pyramid of global corporate social responsibility and performance represents acompany's efforts to be a good global corporate citizen, such as supporting community programs? 79)
______
A) Legal responsibility
B) Economic responsibility
C) Ethical responsibility
D) Financial responsibility
E) Philanthropic responsibility
Answer:
E) Philanthropic Responsibility
Explanation:
The Corporate Social Responsibility (CSR) represents the four type of responsibilities an organisation or corporation has to engage in. The pyramid at the base has the economic responsibility which means the corporation has the responsibility to be profitable
The second from the base is the legal responsibility which means the corporation has the responsibility to obey the law
The third which is also the second to the top of the pyramid is the ethical responsibility which signifies the responsibility of the corporation to be ethical, fair and transparent in all its dealings.
The top of the pyramid represents Philanthropic Responsibilities rooted in the responsibility of the firm to make efforts to be a good corporate citizen of a given society. This can be done by ensuring and being part of the progress of the society in form of support, carrying out development projects among others.
The level of the pyramid of global corporate social responsibility and performance that represents a company's efforts to be a good global corporate citizen, such as supporting community programs, is E. Philanthropic responsibility.
Explanation:Philanthropic responsibility refers to a corporation's ethical obligation to engage in charitable activities and contribute to social and community well-being beyond its core business operations. It reflects a commitment to make a positive impact on society through voluntary giving and community support. It is the level of the pyramid of global corporate social responsibility that represents a company's efforts to be a good global corporate citizen, such as supporting community programs.
This level focuses on voluntary actions that go beyond legal and economic responsibilities, with an emphasis on giving back to society and making a positive impact. Companies engage in philanthropic responsibilities by donating to charities, supporting community initiatives, and participating in sustainable development projects.
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Mr. Trail engaged in a current year transaction generating $50,000 of cash but only $40,000 of taxable income and $10,000 of nontaxable income. If Mr. Trail’s marginal tax rate is 40%, compute his after tax cash flow from the transaction.
Answer:
$34,000
Explanation:
Given that,
Cash generated = $50,000
Taxable income = $40,000
Non taxable income = $10,000
Marginal tax rate = 40%
Hence,
After tax cash flow:
= Cash generated in a current year - (Taxable income × Marginal tax rate)
= $50,000 - ($40,000 × 40%)
= $50,000 - $16,000
= $34,000
Therefore, the after tax cash flow from the transaction is $34,000.
Strategy decisions pertaining to product features, packaging, product line assortment, and branding will be most affected by which target market dimension?A. Geographic location.
B. Urgency to get need satisfied.
C. Behavioral needs and attitudes of consumers.
D. Demographic characteristics of potential customers.
E. Geodemographic characteristics of potential customers.
Answer:
Letter C is correct. Behavioral needs and attitudes of consumers.
Explanation:
Strategic decisions regarding product characteristics will be more affected by the behavioral needs and attitudes of the target market.
A product or service exists to satisfy the needs and desires of the consumer and for which he is willing to pay for the added benefits. Therefore, when implementing a product-oriented strategy, it is necessary for the organization to conduct research on consumer trends and the market in which it is inserted, so that the characteristics of the product are developed focusing on the functional and emotional benefits that the consumer want.
When a company plans to develop a product for a specific market, it is necessary for the company to understand five levels:
1. Central benefit: Corresponds to the main utility of the product, related to the consumer's primary need.
2. Additional benefits : These are the other functions of the product, in addition to the central function.
3. Expected product: These are the basic conditions expected of the product, such as quality and proper functioning.
4. Extended product: Applied to the brand positioning, it corresponds to the level whose product exceeds the customer's expectations.
5. Consumer system: It is the way the user will use the product, obtain, use, adapt and dispose of the product.
Peter Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses a job order costing system with a predetermined overhead allocation rate, computed as a percentage of direct labor costs. At the beginning of 2018, managing partner Andrew Chance prepared the following budget for the year:
Chance Manufacturing, Inc. is inviting several consultants to bid for work. Andrew Peters wants to submit a bid. He estimates that this job will require about 250 direct labor hours.
Direct labor hours (professionals) 25,000 hours
Direct labor costs (professionals) $2,500,000
Office rent 320,000
Support staff salaries 1,260,000
Utilities 420,000
Requirements:
a. Compute Peters Realtors’ (a) hourly direct labor cost rate and (b) predetermined overhead allocation rate.
b. Compute the predicted cost of the Chance Manufacturing job.
c. If Peters wants to earn a profit that equals 50% of the job’s cost, how much should he bit for the Chance Manufacturing job?
Answer:
the professional charges $100 dollar per hour
while the overhead is rate is $80 per hour
the bid will be for 67,500 dollars
Explanation:
wee add up the expected overhead cost:
320,000 rent
1,260,000 salaries
420,000 utilities
2,000,000 total
now we divide over the proposed driver (labor hours)
2,000,000 / 25,000 hours = $80
hourly bill: 2,500,000 / 25,000 = $100
the bid should be:
250 x ($100 + $80) = $45,000 cost
now we add the gain
$45,000 x ( 1 + 0.5) = $ 67,500 bid
Mester Company has 10 employees. FICA Social Security taxes are 6.2% of the first $117,000 paid to each employee, and FICA Medicare taxes are 1.45% of gross pay. FUTA taxes are 0.6% and SUTA taxes are 5.4% of the first $7,000 paid to each employee. Cumulative pay for the current year for each of its employees follows.
Employee Cumulative Pay Employee Cumulative Pay Employee Cumulative Pay
Ken S $6,000 Ann T $146,500 Lori K $119,500
Tim V 60,200 Kathleen K 106,900 Kitty O 36,900
Steve S 87,000 Michelle H 117,000 John W 4,000
A) Compute the amounts in this table for each employee:
(1) FICA Social Security (2) FICA Medicare (3) FUTA taxes (4) SUTA taxes.
B) For the company, compute each total for FICA Social Security taxes, FICA Medicare taxes, FUTA taxes, and SUTA taxes.
(1) tax paid by the employee (2) tax paid by the employer.
Answer:
[tex]\left[\begin{array}{CCCccc}&accumulated&OASDI&HI&SUTA&FUTA\\KEN&6000&360&90&324&36\\ANN&146500&7020&1755&378&42\\LORI&119500&7020&1755&378&42\\TIM&60200&3612&903&378&42\\KATHLEEN&106900&6414&1603.5&378&42\\KITTY&36900&2214&553.5&378&42\\STEVE&89000&5340&1335&378&42\\MICHELLE&117000&7020&1755&378&42\\JHON&4000&240&60&216&24\\\end{array}\right][/tex]
HI OASDI SUTA FUTA TOTAL
Employer 9810 39240 3186 354 52590
Employee 9810 39240 49050
TOTAL 19620 78480 3186 354 101640
Explanation:
We will compare the accumulated wages with the celling of each tax and apply the tax-rate oto the lower amount.
Then FUTA and SUTA will only be paid by the employeer.
Also, the employeer contributes the same amount for Hi and OASDI as the employees
An analysis of the accounts of Roberts Company reveals the following manufacturing cost data for the month ended June 30, 2020. Inventory Beginning Ending Raw materials $9,500 $16,180 Work in process 5,670 8,560 Finished goods 9,700 6,800 Costs incurred: raw materials purchases $58,740, direct labor $50,330, manufacturing overhead $23,960. The specific overhead costs were: indirect labor $6,740, factory insurance $4,430, machinery depreciation $4,720, machinery repairs $2,290, factory utilities $3,840, and miscellaneous factory costs $1,940. Assume that all raw materials used were direct materials. (a) Prepare the cost of goods manufactured schedule for the month ended June 30, 2020.
Answer:
Cost of goods manufactured $ 123,460
Cost of goods sold: $ 126,360
Explanation:
Raw materials
beginning 9500
purchased 58740
ending (16180)
used in production 52060
cost added
materials 52060
direct materials 50330
overhead 23960
total 126350
COGM
beginning WIP 5670
added 126350
ending WIP (8560)
COGM 123460
COGS
beginning FG 9700
COGM 123460
ending FG (6800)
COGS 126360
April works diligently to accomplish the company goals in an efficient and effective manner, utilizing her employees through planning, organizing, leading, and controlling company resources. April is:_____a. Entrepreneurship.b. Eveloping synergy.c. Delegating.d. Vision planning.e. Managing.
Answer:
Letter e is correct. Managing.
Explanation:
Managing is the organizational process of assuming essential responsibilities for the correct use of resources and for achieving objectives and goals. Therefore, it is necessary to define the expected results, which corresponds to planning. Organize the necessary resources for the effective execution of the work. Communicate necessary information and coordinate the processes for carrying out the work, that is, directing. And finally, controlling, that is, monitoring the results, the evolution of activities and correcting flaws for organizational effectiveness and obtaining the expected results.
Prepare budgetary entries, using general ledger control accounts only, for each of the following unrelated situations: a. Anticipated revenues are $10 million; anticipated expenditures and encumbrances are $9.7 million. b. Anticipated revenues are $9.7 million; anticipated expenditures and encumbrances are $10 million. c. Anticipated revenues are $10 million; anticipated transfers from other funds are $1.3 million; anticipated expenditures and encumbrances are $9.7 million; anticipated transfers to other funds are $1.1 million. d. Anticipated revenues are $9.7 million; anticipated transfers from other funds are $1.1 million; anticipated expenditures and encumbrances are $10 million; anticipated transfers to other funds are $1.3 million.
Answer:
Explanation:
a)
Dr Anticipated Revenue 10,000,000
Cr Anticipated Expenditure and encumbrances 9,700,000
Cr Budgetary fund balance 300,000
b)
Dr Anticipated revenue 9,700,000
Dr Budgetary fund balance 300,000
Cr Anticipated expenditures and encumbrances 10,000,000
c)
Dr Anticipated revenue 10,000,000
Dr Anticipated transfers from other funds 1,300,000
Cr Anticipated expenditures, encumbrances 9,700,000
Cr Anticipated transfers from other funds 1,100,000
Cr Budgetary fund balance 500,000
d)
Dr Anticipated revenue 9,700,000
Dr Anticipated transfers from other funds 1,100,000
Dr Budgetary fund balance 500,000
Cr Anticipated expenditure and encumbrances 10,000,000
Cr Anticipated transfers from others 1,300,000
"The budgetary entries for each situation using general ledger control accounts are as follows:
a. For anticipated revenues of $10 million and anticipated expenditures and encumbrances of $9.7 million:
- Debit Estimated Revenues for $10 million.
- Credit Budgetary Fund Balance for $10 million.
- Debit Budgetary Fund Balance for $9.7 million.
- Credit Appropriations for $9.7 million.
The entries reflect the anticipation of revenues and the authorization to spend up to the amount of the appropriations.
b. For anticipated revenues of $9.7 million and anticipated expenditures and encumbrances of $10 million:
- Debit Estimated Revenues for $9.7 million.
- Credit Budgetary Fund Balance for $9.7 million.
- Debit Budgetary Fund Balance for $10 million.
- Credit Appropriations for $10 million.
In this case, the appropriations exceed the anticipated revenues, indicating a potential deficit situation.
c. For anticipated revenues of $10 million, anticipated transfers from other funds of $1.3 million, anticipated expenditures and encumbrances of $9.7 million, and anticipated transfers to other funds of $1.1 million:
- Debit Estimated Revenues for $10 million.
- Debit Other Financing Sources for $1.3 million.
- Credit Budgetary Fund Balance for $11.3 million.
- Debit Budgetary Fund Balance for $9.7 million.
- Credit Appropriations for $9.7 million.
- Debit Appropriations for $1.1 million.
- Credit Other Financing Uses for $1.1 million.
The transfers from other funds are treated as other financing sources, and transfers to other funds are treated as other financing uses.
d. For anticipated revenues of $9.7 million, anticipated transfers from other funds of $1.1 million, anticipated expenditures and encumbrances of $10 million, and anticipated transfers to other funds of $1.3 million:
- Debit Estimated Revenues for $9.7 million.
- Debit Other Financing Sources for $1.1 million.
- Credit Budgetary Fund Balance for $10.8 million.
- Debit Budgetary Fund Balance for $10 million.
- Credit Appropriations for $10 million.
- Debit Appropriations for $1.3 million.
- Credit Other Financing Uses for $1.3 million.
In this scenario, the total budgetary resources, including transfers in, are less than the total appropriations plus transfers out, indicating a deficit situation that would need to be addressed, possibly by additional financing sources or by reducing appropriations.
These entries are made to reflect the budgetary status of the fund at the beginning of the fiscal period and to authorize spending and other financial activities according to the budget."
Which of the following statements about marketing information systems (MIS) is correct? A. Marketing information systems provide information only to a company's internal users. B. An MIS is focused on internal data and ignores the marketing environment. C. An MIS begins and ends with information collectors. D. A good MIS gives managers all the information they ask for. E. A good MIS must balance what users would like to have against what they really need and what is feasible to offer.
Answer:
A good MIS must balance what users would like to have against what they really need and what is feasible to offer.
Explanation:
Management Information Systems (MIS) is an information system used for decision-making in an organisation. It is used to test people, processes, and technology with the aim of increasing value and profit of the business.
There needs to be a balance of what users really need to have access to and what is feasible. The system should be cost effective providing only the necessary tools to users.
Considering the options, the correct statement about MIS is that a good MIS balances what users would like to have against what they really need and what is feasible to offer. This encapsulates the necessity of understanding both internal and external data while maintaining relevant information delivery.
Explanation:In regards to the statements about marketing information systems (MIS), the correct choice is E. A good MIS must balance what users would like to have against what they really need and what is feasible to offer. This is because an MIS is integral to a company's operations and decision-making process, and it encompasses both internal and external data inputs. It doesn't strictly provide information to a company's internal users alone (A), nor focusing solely on internal data while ignoring the marketing environment (B).
Moreover, an MIS doesn't begin and end with information collectors (C), as it also involves data interpretation, processing, and storage activities. In addition, while a good MIS strives to provide managers with all the information they ask for (D), it's important to note that only the relevant and necessary information should be given, avoiding information overload.
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An examiner investigates and reports the results of a bankruptcy fraud investigation to the court. However, unless court appointed, his duties cannot include any of the following except: Operate a business Subpoena records Make business decisions Propose reorganization plans An examiner is not allowed to perform any of the above
Answer:
The correct answer is letter "A": Operate a business Subpoena records.
Explanation:
Subpoena means "under penalty" and is a document specially requested by Court where information is needed to present proof on the facts that are pending in a trial. The document should only be addressed when requested and failure to the submission implies penalties.
When an investor is not interested in owning their own business, why do they need to understand entrepreneurship?
Answer:
To assess the market potential for up-and-coming businesses
Explanation:
Knowledge in entrepreneurship will give you to ability to understand a couple of things:
- The types of products that currently desired by the market.
- The strength and weaknesses of several business models
- The knowledge on how to scale business operations
Even though investors do not own their own business, understanding all this will help them understand which companies are most likely to succeed. They can put their investments on those companies and maximize the amount of return that they can get from their investment.
Final answer:
Investors need to understand entrepreneurship to grasp key concepts like financial capital and investment decisions that impact various firms.
Explanation:
Entrepreneurship is essential for investors to understand, even if they are not interested in owning a business, as it involves key concepts like financial capital, consumer needs, and investment decisions that impact various firms.
In the business world, investors may need to provide financial capital to firms, from established companies to startups, in exchange for the opportunity to obtain a rate of return on their investment.
Ultimately, entrepreneurs play a crucial role in the economy by offering money to obtain labor services, capital goods, and resources to produce goods and services, highlighting the interconnected nature of entrepreneurship and investment.
You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account and $250 per month in a bond account. The return of the stock account is expected to be 10 percent, and the bond account will pay 6 percent. When you retire, you will combine your money into an account with a return of 5 percent. How much can you withdraw each month from your account assuming a 25-year withdrawal period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
The withdrawals will be of $ 11,379.014 per month
Explanation:
Future value of the annuities:
[tex]C \times \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
C 750.00
time 360(30 years x 12 monhs per year)
rate 0.008333333 (10% / 12 months)
[tex]750 \times \frac{1-(1+0.00833)^{-360} }{0.008333} = PV\\[/tex]
PV $1,695,365.9436
[tex]C \times \frac{(1+r)^{time} -1}{rate} = PV\\[/tex]
C 250.00
time 360 (30 years x 12 monhs per year)
rate 0.005 (6% / 12 months)
[tex]250 \times \frac{(1+0.005)^{360} -1}{0.005} = PV\\[/tex]
PV $251,128.7606
Total 1,695,365.84 + 251,128.76 = 1.946.494,6
and from here we withdraw for 25 years:
[tex]PV \div \frac{1-(1+r)^{-time} }{rate} = C\\[/tex]
PV 1,946,495
time 300 (25 years x 12 months)
rate 0.004166667 (5% / 12 months)
[tex]1946494.6 \div \frac{1-(1+0.004167)^{-300} }{0.004167} = C\\[/tex]
C $ 11,379.014
Chuck applied for a job as a car salesman. During the process, Chuck had to submit to a background check as well as a credit check. When Chuck asked why these were necessary, the dealership informed him that due to the nature of the job, and having access to sensitive information such as social security numbers, addresses, and the like, clearing these two checks is necessary. These checks are allowed underMultiple Choice
a. bona-fide occupational qualification.
b. disparate treatment.
c. reasonable accommodation.
d. business necessity.
Answer:
The correct answer is letter "D": business necessity.
Explanation:
The business necessity defense is a position a company takes after deciding in regards to the requirements of the organization. These are job-related needs the company alleges to request to safeguard the firm's interest. For instance, requiring a Criminal Record Check ensures a company is hiring personnel with good behavior who have not committed illegal activities.
If rent controls are imposed, they will most likely be set at either _______ or _______. A. Rent0; Rent1 B. Rent1; Rent3 C. Rent3; Rent4 D. All of the above are equally likely rent control levels.
Answer:
A. Rent0; Rent1
Explanation:
From the figure that is given in the question we can see that at Rent0 and Rent1 the demand is higher and supply is less so the rent can be increased to very high amounts as people will be willing to give that amount because of the limited supply. That is why the rent controls should be imposed at either Rent0 or Rent1.
ABC, Incorporated desires to have the most qualified people in every position throughout its organization. This is an example of a concern for a. Developing human capital b. Developing social networks c. Decreasing labor intensive training d. Leveraging organizational structure
Answer:
The correct answer is letter "A": Developing human capital.
Explanation:
Developing human capital implies training existing employees of the company so they can specialize in their every-day duties which is likely to be positively reflected in their efficiency at work, increasing at the same time the productivity of the organization.
The situation depicts ABC, Incorporated's interest in 'Developing human capital'. This refers to maximizing the potential of employees through their knowledge, skills, and abilities to contribute to the organization's productivity and output.
Explanation:The scenario described in the question is an example of ABC, Incorporated's concern for Developing human capital. Human capital refers to the knowledge, skills, and abilities possessed by an individual that can be used to provide economic value to an organization. In this case, ABC, Incorporated desires to have the best possible individuals in every position, which is a clear sign of it trying to maximize its human capital. As opposed for developing social networks, decreasing labor-intensive training, or leveraging organizational structure, investing in human capital often leads to increased productivity and output.
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If you buy a factory for $250,000 and the terms are 20 percent down, the balance to be paid off over 30 years at a 12 percent rate of interest on the unpaid balance, what are the 30 equal annual payments?
a. $20,593
b. $31,036
c. $24,829
d. $50,212
e. $ 6,667
Answer:
c. $24,829
Explanation:
We use the PMT formula that is shown in the spreadsheet below:
Provided that,
Present value = $250,000 - $250,000 × 20% = $200,000
Future value = $0
Rate of interest = 12%
NPER = 30 years
The formula is shown below:
= PMT(Rate;NPER;-PV;FV;type)
The present value come in negative
So, after solving this, the answer would be $24,828.73
Is the futures price of a stock index greater than or less than the expected future value of the index? Explain your answer.
Answer:
It can be greater as well as less.
Explanation:
1st of all we should know what is Future Price and what is Stock Index.
The futures price can be more or less that the predicted fee.
When futures costs are lower than predicted price spot fees, the situation is known as normal backwardation.
When futures prices are higher than anticipated spot charges, it is called normal contango
Payroll was one of the first accounting applications to be automated because: a. it was the most crucial to business success b. it involved a highly repetitive, routine series of calculations c. it controlled the largest cash flow out of the business d. it was the most straight-forward to program e. all of the above
Answer:
(B). It involved a highly repetitive, routine series of calculations
Explanation:
Automation involves reducing or eliminating human input in a process and controlling the process using technology or by electronic means.
Payroll accounting in an organization entails calculating and recording employees' salaries, bonuses, wages and other financial information.
Payroll can be monotonous and involves a series of repetitive and routine calculations, and as such, was one of the first accounting applications to be automated.
(1 point) A repair company charges a fixed amount plus an hourly rate for a service call. Suppose it charges $200 for one-hour and $288 for five-hour call. Find a linear function that describes the price of a service call in terms of x, the number of hours.
Answer:
tariff = 22x + 178
Explanation:
We use high-low method
hours total cost
1 200
5 288
We subtract one from the other and get the information about hte slope:
4 hours generate cost for 88 dollars
we divide and get the slope:
88/4 = 22
now we replace and the the fixed cost:
total cost - variable cost = fixed cost
200 - 22(1) = 178 fixed cost
288 - 22(5) = 178 fixed cost
tariff = 22x + 178
The price of a service call is described by the linear function y = 22x + 178, where x is the number of hours and y is the total cost. The hourly charge is $22, and the fixed amount is $178.
Explanation:To find a linear function describing the price of a service call in terms of the number of hours, let's denote the total cost by y and the number of hours by x. We are given that the repair company charges $200 for a one-hour service call, which can be represented as (x, y) = (1, 200). We are also given that the charge for a five-hour call is $288, represented as (x, y) = (5, 288). To write the equation in slope-intercept form, y = mx + b, we need to find the slope m, which is the hourly rate, and the y-intercept b, which is the fixed amount. The slope can be calculated by dividing the difference in total costs by the difference in hours, which is (288 - 200) / (5 - 1) = 88 / 4 = 22. This means the hourly rate is $22.
The fixed amount b can be calculated using the price for a one-hour call. By substituting x = 1 and y = 200 into the slope-intercept form, we get 200 = 22(1) + b. Solving for b gives us b = 200 - 22 = 178. Therefore, the linear function that describes the price of the service call is y = 22x + 178.
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Brussels Enterprises issues bonds at par dated January 1, 2019, that have a $1,800,000 par value, mature in four years, and pay 10% interest semiannually on June 30 and December 31.
1. Record the entry for the issuance of bonds for cash on January 1.
2. Record the entry for the first semiannual interest payment and the second semiannual interest payment.
The first journal entry records the issuance of bonds for cash at par value. The next two entries record the semiannual interest payments, each calculated as 10% per annum of the par value divided by 2.
Explanation:The subject of this question is related to accounting, specifically the journal entries for issuing bonds and paying interest on bonds. In this scenario, Brussels Enterprises issues bonds at par value, so the cash received equals the par value of the bonds.
The first entry on January 1, 2019 would be:
Dr: Cash $1,800,000Cr: Bonds Payable $1,800,000
On June 30, 2019 and December 31, 2019 for interest payment the entry will be:
Dr: Interest Expense $90,000 ($1,800,000 * 10% / 2)Cr: Cash $90,000Learn more about Bond Issuance and Interest Payment here:
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You and two partners start a company. However, your partners play no role in running the company. You spend all your time managing the business. The time that you could have spent working for someone else and earning wages instead of running the business is your:
a. Explicit costs
b. Marginal cost
c. Sunk cost
d. Opportunity cost
Answer:
The correct answer is letter "D": Opportunity cost.
Explanation:
Opportunity cost is described as the return of the choice selected over the potential return that could have been obtained from the choice left behind. It represents the return of the option chosen compared to the choice forgone. Opportunity costs is also defined as the return of the best next available option.
Final answer:
The time spent managing a business instead of earning wages elsewhere is an opportunity cost, which represents the benefits lost by not choosing the alternative option.
Explanation:
When you and two partners start a company and you are the only one managing the business, the time you could have spent working elsewhere and earning wages represents your opportunity cost. This is because opportunity costs are the benefits you forego when choosing one alternative over another. Since explicit costs involve actual payments like wages and rent and are not the case here, and since there is no mention of additional production costs to consider for a marginal cost, and sunk costs are past costs that cannot be recovered, the correct answer is opportunity cost.
Implicit costs, which include opportunity costs, are important for businesses to consider, especially when resources such as time are used without direct payment. They can also include things like lost leisure time which, when given up to start a business, can subtract from economic profits.
What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $51,900 taxable income?
Answer:
Tax Liability: $5,840
Marginal Tax Rate: 12%
Average Tax Rate: 11%
Explanation:
*The tax liability is determined using the tax rate for 2019 tax bracket.
For married couple filling jointly, the tax rates for taxable income of $51,900 are:
Tax Rate Income Bracket
10% $0 – $19,400
12% $19,401 – $78,950
So the tax liability will be:
10% * $19,400 = $1,940 (first $19,400)
12% * $32,500 = $3,900 (Balance of $32,500)
Total tax liability = $5,840.
*Marginal tax rate is the tax rate paid on the last unit of income, the last dollar. In this case, the last dollar was taxed at 12%. Hence the marginal tax rate is 12%.
*Average tax rate is the proportion of taxable income that is to be paid as tax. It is derived by dividing the tax liability by taxable income.
Average tax rate = $5840
$51,900
Average tax rate =11.2524%
Average tax rate = 11% (rounded up to whole figure)
The tax liability, marginal tax rate, and average tax rate for a married couple filing jointly with $51,900 taxable income necessitate referencing current IRS tax rate schedules. The marginal tax rate is the rate for the highest dollar earned, while the average tax rate is the total tax divided by the total income, which for married couples is often lower than for single filers.
To determine the tax liability, marginal tax rate, and average tax rate for a married couple filing jointly with $51,900 taxable income, we would need to refer to the tax rate schedules provided by the Internal Revenue Service (IRS) for the relevant tax year. As tax rates can change annually, specific values would require the latest tax table.
Generally, the United States has a progressive tax system, meaning that as income rises, higher income portions are taxed at higher rates. Marginal tax rate refers to the rate at which the last dollar of income is taxed, whereas the average tax rate is calculated by dividing the total tax liability by the total taxable income.
For example, if a married couple's income is within the range where their next dollar would be taxed at 12%, their marginal tax rate is 12%. To calculate the average tax rate, you divide their total tax liability (which takes into account all the brackets their income has passed through) by their total taxable income.
Comparing married filing jointly rates to those of single filers, married couples often have wider tax brackets, which results in lower marginal tax rates for the same amount of income, which can have an impact on behaviors like labor participation and investment.
When we discuss _____ approaches, we are talking about how organizational decision makers actually approach ethical issues. a. Organizational b. Individual c. Descriptive d. Values-based e. Normative
Answer:
The correct answer is letter "E": Normative.
Explanation:
Normative Economics incorporates subjectivity and value judgments focusing on what "should be". It is usually implemented at the governmental level. Normative Economics leaves the door open for future changes, eliminates absolute statements and provides an avenue for analysis of different economic scenarios.
Prepare the income statement for Quality Aquatic Company for the most recent year. Use the calculation of cost of goods sold, cost of goods manufactured, and the amounts below. Assume that the company sold 36 comma 000 units of its product at a price of $ 14 each during the year.
Answer:
Net income 167,900
Explanation:
Sales revenue 36,000 x $14 = 504,000
Cost of good sold- (230,600)
Gross Profit: 273,400
Marketing expenses (77,000)
Administrative expenses (28,500)
Net income 167,900
Missing information attached.
We subtract the cost of good sold to get the gross profit.
the material, labor and overhead cost are included in the cost of good sold so we don't have to conted again. We will only post the expenses not related to manufacturing department which are, selling and adminsitrative.
Which of the following practices will lead to effective recognition and rewarding of employees? Select one: a. Tying rewards to immeasurable performance so that employees provide more attention to quality rather than quantity b. Rewarding behavior, not just results c. Rewarding employees only through cash rewards as money is the most important and effective motivating factor for most employees d. Giving individual rewards rather than team rewards because team rewards can ignore the contributions of individual employees to the team
The methods that would lead to the practice of effective recognition and rewarding to the employee would be.
The effective recognition is through the use of rewards and the company giving them the value they deserve. There contribution to the team and the company overall. Hence the option Trying to reward the employee so that they can provide more attention and provide quality work.Learn more about the will lead to effective recognition and rewarding.
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You purchase a meal from a food court restaurant in your local mall and notice a sign that reads, "Your meal is free if we fail to give you a receipt." Why would a restaurant post this sign? Please search the Internet and find an example of fraud in the fast food or retail industry involving employees and share the details of the fraud and consequences for the actions. Also, please identify what internal control(s) should have been in place to prevent this.
Answer:
The employees will not enter the sale in the system thus, making the entire revenue for themselves. The system will not reocrd the sale thus, it will not be in the cash blanace once the restaurant close it. The cashier will took the extra money. They can make a deal with the waitress to share the profit so It doesn't complain about receiving the receipt Or explain the customer it has to pay in cash as the system for credit card is failling.
In the end, making sure each customer receives a receipts will mean it was loaded in the system and thus, avoiding ghost tables.
Internal control measurement:
The manager, should make a random control for the cashier and for the tables to look if they match the customer and the tables used.
It should also start looking for how much is the average ticket and the ticket
It should also talk with the cooking employees how much dinners they prepare, how much bussy was the night or directly apply a production bonus thus, they will be incentive to keep track of the meals cooked.
Explanation:
In addition to the individual income tax, individuals may be required to pay other taxes. Taxpayers with a large amount of tax preference items and itemized deductions may be subject to the _____
Answer:
Taxpayers with a large amount of tax preference items and itemized deductions may be subjected to the alternative minimum tax (AMT).
Explanation:
Alternative minimum tax is a form of tax that applies to individuals who have enjoyed large tax benefits on their high economic income. This tax serves as a redressing tool to make sure that individual pays a minimum tax.
Alternative minimum tax is the surplus of supposed minimum tax over the regular tax. When calculating the supposed minimum tax, the income of an individual, deduction and exemptions are considered and alternative minimum tax rate is applied.
After getting the supposed minimum tax, it`s compared with the regular tax. If it higher than the regular tax, then the individual is subjected to alternative minimum tax.
Which of the following is not required of a celebrity who will be endorsing a product? a. verification of the claims to be presented b. actual use of the product c. disclosure of source of claims not known personally by the celebrity d. All of the above are required.
Answer: D. All of the above are required.
Explanation: A celebrity is a famous person who is well-known for their social status which they employ in promoting products, services or in raising awareness concerning certain issues. This is known as celebrity endorsement which attaches the fame of celebrities to brands and products.
For a product to be endorsed by celebrities the claims about the product to be advertised must be verified; most times the products are also made available to them for their personal use to elicit more authentic personal reviews; and sources of claims concerning the product not personally known by the celebrity ought to be disclosed (especially in cases where the celebrity doesn't or can't personally uses the product).
Celebrities inspire consumer confidence, can reach a wider audience and even effectively raising funds geared towards solving problems.
You bought a bond five years ago for $804 per bond. The bond is now selling for $770. It also paid $55 in interest per year, which you reinvested in the bond. Calculate the realized rate of return earned on this bond.
Answer:
Realized rate of return earned on this bond is 2.61%
Explanation:
Interest Paid per year = $55
Face / Purchase Value = $804
Current Selling price = $770
Coupon rate / Interest rate per year = ( $55 / $804 ) x 100
Coupon rate / Interest rate per year = 6.84%
Return on sale of Bond = $770 - $804 = -$34
Return on sale of Bond ( Percent ) = ( -$34 / 804 ) x 100 = -4.23%
Realized rate of return = Coupon Interest rate + Return on Sale
Realized rate of return = 6.84% + ( -4.23% ) = 2.61%
The realized rate of return on this bond over five years is approximately 30%. This calculation accounts for both the capital gain/loss from the change in the bond's price and the reinvested interest income.
To calculate the realized rate of return on the bond, you need to consider both the capital gain/loss and the reinvested interest. Here's the calculation:
Calculate the total interest received over five years: $55 (annual interest) x 5 years = $275.
Calculate the capital gain/loss: Selling Price - Purchase Price = $770 - $804 = -$34.
Add the interest received to the capital gain/loss: $275 - $34 = $241.
Calculate the realized rate of return: Divide the total return ($241) by the initial investment ($804) and express it as a percentage:
Realized Rate of Return = ($241 / $804) x 100% ≈ 30%.
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The flow of costs in a job order costing system A. transfers all costs to manufacturing overhead B. includes the major steps of accumulating and amortizing C. cannot be determined until all jobs are complete. D. involves accumulating costs and then assigning costs to jobs.
Answer:
The correct answer is letter "D": involves accumulating costs and then assigning costs to jobs.
Explanation:
The flow of the cost in a job-order costing system starts by recording the costs of labor, raw materials, and overhead. As the costs begin to accumulate, the costs of the units finished are assigned to the Work-In-Progress and Finished Products accounts until they are sold when those costs are recorded to the Costs of Goods Sold account.
In a job order costing system, costs are accumulated and assigned to specific jobs or job orders. The costs are then transferred to the finished goods inventory and eventually to the cost of goods sold.
In a job order costing system, the flow of costs involves accumulating costs and then assigning costs to jobs.
Here are the steps in the flow of costs in a job order costing system:
Accumulate the costs incurred for materials, labor, and overhead.Assign the accumulated costs to specific jobs or job orders.Calculate the unit cost for each job by dividing the total cost by the number of units produced.Transfer the costs to the finished goods inventory when the job is completed.When the finished goods are sold, transfer the costs to the cost of goods sold.Learn more about job order costing here:
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