In your initial post, discuss whether you think a contract existed in this situation. Make sure to include the contract elements that are present is given below
Explanation:
Most contracts only need to contain two elements to be legally valid: All parties must be in agreement (after an offer has been made by one party and accepted by the other). Something of value must be exchanged -- such as cash, services, or goods (or a promise to exchange such an item) -- for something else of value.
The requisite elements that must be established to demonstrate the formation of a legally binding contract are (1) offer; (2) acceptance; (3) consideration; (4) mutuality of obligation; (5) competency and capacity; and, in certain circumstances, (6) a written instrument.
A contract is much more than an agreement between two people. There must be an offer and acceptance, intention to create a legally binding agreement, a price paid (not necessarily money), a legal capacity to enter a contract of your own free will, and proper understanding and consent of what is involved.
Identify an offer, acceptance, and consideration.
For a contract to be valid, it must have these three basic elements: a specific offer, acceptance of the terms of the offer, and consideration, which is the agreed-upon exchange of goods or services. A valid offer must be sufficiently definite.
Identify an offer, acceptance, and consideration.
For a contract to be valid, it must have these three basic elements: a specific offer, acceptance of the terms of the offer, and consideration, which is the agreed-upon exchange of goods or services. A valid offer must be sufficiently definite.
Reread the Management Focus on Cemex and then answer the following questions: a) Which theoretical explanation, or explanations, of FDI best explains Cemex’s FDI? b) What is the value that Cemex brings to the host economy? Can you see any potential drawbacks of inward investment by Cemex in an economy?
Complete Question:
Mexico's largest cement manufacturer, Cemex, has become a global powerhouse in the cement and construction industry.It currently controls 60 percent of the cement industry in Mexico (Hill 2009).Cemex's success is a result of a combination of efficient technology such as radio transmitters, satellites, and computer hardware that allow the company to anticipate changes in supply and demand and reduce waste.
Cemex's success is also a result of an attempt to dominate the industry by acquiring and buying out competitors worldwide in order to expand.
Reread the Management Focus on Cemex and then answer the following questions:
a) Which theoretical explanation, or explanations, of FDI best explains Cemex’s FDI?
b) What is the value that Cemex brings to the host economy? Can you see any potential drawbacks of inward investment by Cemex in an economy?
Explanation:
a) I think Cemex's philosophy of internalisation perfectly illustrates that, instead of licensing it took the initiative to penetrate other markets, Cemex has acquired in-house cement firms and has become a global powerhouse. The text book discusses that companies often choose foreign direct investment as a policy to penetrate foreign markets, rather than authorising (Hill 2008). The internalisation principle. The state-of - the-art technologies Cemex employs would not make selling the company's "technological know-how" the best way to protect it (Hill 2009).
b) Cemex, the world's third largest cement firm, has 60% control over the powerhouse in Mexico.
The focus of Cemex is on the efficient production and service of the consumer. Sales receivers, as are consumers, have been paid. Such competitive advantages are the main benefits that Cemex gives to host countries. Cemex acquires companies, and then moves technologies, management and marketing skills to new units and improves their performance. Several purchased businesses were taken back to full production and the work opportunities in the host country were improved.
Final answer:
Cemex's FDI is best explained by the Market Power Theory. Cemex brings value to the host economy through job creation, technology transfer, and increased competition, but there can be potential drawbacks as well.
Explanation:
a) The best theoretical explanation of Cemex's Foreign Direct Investment (FDI) is the Market Power Theory. Cemex's FDI allowed them to gain a competitive advantage over local firms and establish a dominant position in the host economy. By acquiring local cement companies, they were able to control a significant portion of the market and influence prices.
b) The value that Cemex brings to the host economy includes job creation, technology transfer, and increased competition. However, there can also be potential drawbacks such as the exploitation of natural resources, environmental concerns, and negative impacts on local businesses.
Dome Metals has credit sales of $180,000yearly with credit terms of net 60 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 60 dys to pay. What is the average receivables balance? Receivables turnover?
Answer:
The average receivables balance is $29,589
The Receivables turnover is 6.08 times
Explanation:
Dome Metals has credit sales of $180,000 yearly and the average collection period of 60 days.
The average collection period = 365 days/Receivables turnover ratio = (365 days x average account receivables)/Credit Sales
Average account receivables = (The average collection period x Credit Sales)/365 = (60 x $180,000)/365 = $29,589
Receivables turnover ratio= 365/The average collection period = 365/60 = 6.08 times
The average receivables balance for Dome Metals is $29,605.26, and the receivables turnover is 6.08.
Explanation:In this example, Dome Metals has annual credit sales of $180,000 and an average collection period of 60 days. To determine the average receivables balance, divide the annual credit sales by the turnover rate (365/60 = 6.08). So, $180,000/6.08 results in an average receivables balance of $29,605.26.
Next, to compute the receivables turnover, we take the annual credit sales and divide them by the average accounts receivable. This means that Dome Metals' receivables turnover is 6.08.
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Financial markets :a. determine tax rates. b. increase transactions costs. c. reduce diversification. d. are the same as resource markets. e. provide liquidity.
Answer:
The correct answer is letter "E": provide liquidity.
Explanation:
Financial market describes any manner in which buyers and sellers meet for trading assets, usually financial securities such as stocks, bonds currencies, options, and derivatives. Financial markets are a cornerstone of the capitalist economy because they assist entrepreneurs and businesses in facilitating capital formation and liquidity.
Financial markets create liquidity by making the trading of financial holdings easy for buyers and sellers without the need of a physical market.
Financial markets play an important role in providing liquidity, fostering efficiency, and promoting diversification. They are made up of different entities that include firms and households. These markets provide a platform where firms aim to raise financial capital and households look for a desirable mix of rate of return, risk, and liquidity.
Explanation:The question pertains to the purpose and impact of financial markets. Financial markets, which include entities like firms in the goods market and households in the financial market, play an important role in our economy. They don't determine tax rates (Government does that), nor do they increase transaction costs. In fact, financial markets strive to reduce costs and foster efficiency.
Financial markets neither reduce diversification but promote it, as they allow investors to spread their risk across a variety of investments. Furthermore, financial markets are not the same as resource markets; the former deals with assets and securities, while the latter deals with labor, raw materials, and physical capital. Lastly, financial markets provide liquidity, which means that they enable investors to easily convert their assets into cash without a significant loss of value
Different entities like firms in the labor market, households in the goods market, and firms in the financial market interact within these markets. Firms aim to raise financial capital while households look for a desirable combination of rate of return, risk, and liquidity. This dynamic interplay highlights the critical role of financial markets in society.
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Concord Sports sells volleyball kits that it purchases from a sports equipment distributor. The following static budget based on sales of 1,820 kits was prepared for the year. Fixed operating expenses account for 73% of total operating expenses at this level of sales.
Sales $87,000
Cost of goods sold (all variable) 52,200
Gross margin 34,800
Operating expenses 30,450
Operating income $ 4,350
Assume that during the year Concord Sports actually sold 1,827 volleyball kits during the year at a price of $42 per kit.
Calculate the sales price variance.
Answer:
Sales price variance= $10,596.6 unfavorable
Explanation:
Giving the following information:
The following static budget based on sales of 1,820 kits was prepared for the year.
Sales $87,000
Assume that Concord Sports sold 1,827 volleyball kits during the year for $42 per kit.
First, we need to calculate the standard selling price:
Standard selling price= 87,000/1,820= $47.80
The sales price variance is calculated as follow:
Sales price variance= actual sales revenue - actual sales at the standard price
Sales price variance= (1,827*42) - (1,827*47.8)= $10,596.6 unfavorable
The sales price variance for Concord Sports, based on actual sales of 1,827 kits at $42 per kit, is -$10,590.60. This negative variance indicates that the actual selling price was lower than the budgeted price.
The student asked: 'Calculate the sales price variance for Concord Sports, given actual sales of 1,827 kits at a price of $42 per kit.'
To calculate the sales price variance, we use the following formula: Sales Price Variance = (Actual Selling Price - Budgeted Selling Price) x Actual Quantity Sold.
Here's the step-by-step calculation:
Budgeted Selling Price per Kit = Total Budgeted Sales / Budgeted Quantity Sold = $87,000 / 1,820 kits = $47.80 per kit.Actual Selling Price per Kit = $42.Actual Quantity Sold = 1,827 kits.Sales Price Variance = (Actual Selling Price - Budgeted Selling Price) x Actual Quantity Sold = ($42 - $47.80) x 1,827 kits = (-$5.80) x 1,827 = -$10,590.60.Sales Price Variance is therefore -$10,590.60.
4. Suppose an acquiring firm pays $100 million for a target firm and the target's assets have a book value of $70 million and an estimated replacement value of $80 million. What amount would be allocated to the acquiring firm's goodwill account?
Answer:
The question is missing below options:
A. $0 million B. $20 million C. $30 million D. $70 million E. $80 million
The correct option is B,$20 million
Explanation:
Goodwill =Purchase consideration less fair value of net assets acquired
Purchase consideration is $100 million
Fair value of net assets is $80 million, the replacement value
Goodwill=$100 million -$80 million
Goodwill=$20 million
Provided the replacement value was not given, the book value of $70 million would have been a proxy for the fair value,hence giving a goodwill of $30 million($100 million less $70 million)
Option D is wrong because goodwill is not the same as book value of assets
Option E is wrong because the replacement value of asset is goodwill.
A Swiss watch company advertises its history of superior craftsmanship. The company thinks that this would a. Make the demand for the product less elastic b. Make the customers less sensitive to the price c. Assist them with differentiating their product d. All of the above
Answer:
The correct answer is letter "B": Make the customers less sensitive to the price.
Explanation:
There are several reasons that could make products become elastic or inelastic. Reputation typically makes goods and services be considered inelastic. These types of products do not see a change in their quantity demanded in front of changes in price.
Thus, if a Swiss watch company promotes their history of superior craftsmanship is attempting to aware consumers about its watch quality and reputation so if they decide to increase prices consumers will be less sensitive to the change.
The correct answer is d) All of the above.
Explanation:The correct answer is d) All of the above.
When a Swiss watch company advertises its history of superior craftsmanship, it can have multiple effects on the demand for the product. First, it can make the demand for the product less elastic, meaning that consumers are less likely to be sensitive to price changes. This is because the craftsmanship and reputation of the company create a perception of high quality, which can make consumers willing to pay higher prices. Second, it can make the customers less sensitive to the price, as they value the craftsmanship and uniqueness of the product, which differentiates it from other watches in the market. Lastly, advertising the history of superior craftsmanship can assist the company with differentiating their product from competitors, as it highlights the company's expertise and reputation in producing high-quality watches.
Apply strategies for self-improvement based on individual strengths and needs. I will score 25 goals in the soccer game. a. Yesb. No
Answer:
b. No
Explanation:
This is not an effective strategy for self-improvement. In this sentence, the author tells us that he believes he will be able to score 25 goals in a soccer game. This is extremely unlikely even for the best soccer players in the world. Therefore, the goal is unrealistic. By creating unrealistic or unachievable goals, we only make it more difficult for us to succeed, and the failiure that will inevitably follow can be damaging to our confidence. Therefore, when establishing goals, it is important that we are realistic.
In the context of scoring 25 goals in a soccer game, self-improvement strategies should be focused on enhancing existing skills and addressing areas of need, keeping the goal realistic. Practice, feedback, and self-reflection can aid in achieving this. The process requires patience and commitment.
Explanation:The approach of self-improvement based on individual strengths and needs involves setting realistic goals and continually assessing progress on these goals. In the context of your goal to score 25 goals in a soccer game, it is critical to evaluate this target against your current abilities and the opportunities you will have in the game. The target should be challenging but realistic.
Improvement strategies might focus on enhancing your current strengths, like speed or accuracy, and addressing areas of need, such as endurance or team coordination. These strategies can include deliberate practice, receiving feedback, and self-reflection. Whatever the strategy, remember that self-improvement is a gradual and ongoing process that requires patience and commitment.
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What are the advantages and disadvantages of using debt in a firm's capital structure? Advantage/Disadvantage a. A distribution of stock to shareholders can be a nontaxable stock dividend while a distribution of a debt usually results in dividend income. b. Interest is deductible (subject to limitations) by the payor while a dividend payment is not deductible. c. Repayment of an indebtedness generally is treated as a return of capital while a stock redemption generally is treated as a dividend. d. Stock can be received tax-free as part of a corporate formation and/or reorganization while the receipt of debt usually is treated as boot. e. Worthless stock results in an ordinary loss under Sec. 1244 while a worthless debt instrument generally results in a capital loss.
Answer:
a. Disadvantage
b. Advantage
c. Advantage
d. Disadvantage
e. Disadvantage
Explanation:
Debt refers to a mode of raising long term finance whereby the borrower, usually a corporate agrees to repay periodic interest and at the same time principal repayment upon maturity.
Debt is an obligation whereby the interest obligation must be met by the borrower irrespective of it's profits.
One advantage of debt financing being, interest paid on debentures and bonds is tax deductible.
Issue of common stock meanwhile confers members with voting rights and ownership rights. Stockholders are paid dividend and the company pays their principal lastly, after having met all other obligations.
Issue of common stocks lead to dilution of control and at the same time, dividend unlike interest is not tax deductible.
Splish Corporation has retained earnings of $707,000 at January 1, 2020. Net income during 2020 was $1,428,500, and cash dividends declared and paid during 2020 totaled $85,000. Prepare a retained earnings statement for the year ended December 31, 2020. (List items that increase retained earnings first.)
Answer:
Explanation:
Statement of retained earning represent the changes in retained earning balance during the year and accumulated beginning balance of the period and Ending balance as well. It deals with all the adjustment in retained earning like net income transfer fro the year, dividend paid during the year etc.
Splish Corporation
Retained Earning Statement
for the year ended December 31, 2020
$
Retained Earning at January 1, 2020 707,000
Less: Cash Dividend paid during 2020 85,000
Add: Net Income for the year 2020 1,428,500
Retained Earning ath December 31 2020 2,050,500
A city will serve as a conduit for federal grant money, which is sent to the city by the state government and must be remitted to various not-for-profit organizations that will use the money. The ultimate allocation of the money is decided by the state government. Which of the following terms describes the nature of this grant?(A) Agency grant(B) Fiduciary grant(C) Pass-through grant(D) Partial Grant
Answer:
(C) Pass-through grant
Explanation:
A pass-through grant occurs when a recipient of a grant is allowed by the government to provide funding to other recipients. Funds are received and passed along to other recipients.
The party that receives funding from the pass-through entity is called the subrecipient.
This usually occurs when government lacks the structure to effectively push grant initiatives.
In this instance when states provide funds to the city for onward delivery to not for profit organisations, the city is acting as a pass-through entity.
Suppose the cross-price elasticity between demand for Chipotle burritos and the price of Qdoba burritos is 0.8. If Qdoba increases the price of its burritos by 10%: Chipotle will sell 8% more burritos. We cannot tell what will happen to Chipotle, but Qdoba will sell 8% fewer burritos. Chipotle will sell s8% fewer burritos. Chipotle will sell 10% more burritos.
The given cross-price elasticity signifies that Qdoba and Chipotle burritos are substitute goods. Thus, when Qdoba burritos' price increases by 10%, Chipotle will likely sell 8% more burritos.
Explanation:In economic terms, the cross-price elasticity of demand measures how the quantity demanded of one good responds to a change in the price of another good. In this case, the cross-price elasticity between the demand for Chipotle burritos and the price of Qdoba burritos is 0.8. This means when the price of Qdoba burritos increases by 10%, the demand for Chipotle burritos increases by 8%. This is because these two goods are substitutes - when the price of Qdoba burrito increases, consumers switch to Chipotle burritos because it is relatively cheaper.
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After Qdoba increases the price of its burritos by 10%, and given that the cross-price elasticity between Chipotle and Qdoba is 0.8, Chipotle will sell 8% more burritos, as calculated using the cross-price elasticity formula.
The student's question involves the concept of cross-price elasticity of demand, which measures the responsiveness of the quantity demanded for one good when the price of another good changes. In this particular case, Chipotle and Qdoba are substitute goods, which means they have a positive cross-price elasticity. If the cross-price elasticity between demand for Chipotle burritos and the price of Qdoba burritos is 0.8 and Qdoba increases its prices by 10%, we can use the formula:
Cross-price elasticity of demand = (% change in quantity demanded for Good A) / (% change in price of Good B)
By rearranging the formula: (% change in quantity demanded for Chipotle burritos) = (cross-price elasticity) imes (% change in price of Qdoba burritos)
Plug in the values: (% change in quantity demanded for Chipotle burritos) = 0.8 imes 10% = 8%
Therefore, Chipotle will sell 8% more burritos as a result of Qdoba's 10% price increase.
Indicate whether the following scenarios represent an increase, decrease, or no change in the long-run aggregate supply (LRAS) curve. Each label may be used more than once.
A.The mandatory retirement age in Wonkaland is abolished.
B.Wonkaland?s main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy.
C.Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines.
D.The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.
Answer:
A. increase
B. decrease
C. no change
D. no change
Explanation:
The long-run aggregate supply (LRAS) curve is the curve used to show how aggregate supply varies with changes in demand in the long run.
Let me explain each of the choices one after the other;
A. The mandatory retirement age in Wonkaland is abolished; this leads to an increase in long run supply because more people will be in the workforce, and more workers mean more production and more supply.
B. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy; an increase in demand from all over the world will cause number of supply to drop long term, because, lesser number of products will be distributed among a larger number of people.
C. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines; initially as described in B above, the supply decreases, but if number of candy making machines are doubled, the supply that has decrease begins to rise again until it reaches its original point, hence causing no chance in the LRAS, because it s assumed that the new machines are used to satisfy the external demand.
D.The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world; in the case of relocation, there will be no change in overall supply because the change is only in location and not in production capabilities, but locally, the supply might decrease in the place where they relocated from.
Rita owns a sole proprietorship in which she works as a management consultant. She maintains an office in her home (500 square feet) where she meets with clients, prepares bills, and performs other than home office expenses, a total of $5,600. The following home-related office under the actual expense method for calculating home office expenses other work-related tasks. Her business expenses, expenses have been allocated to her home
Real property taxes $ 1,600
Interest on home mortgage $ 5,100
Operating expenses of home $800
Depreciation $1,600
Also, assume that not counting the sole proprietorship, Rita's AGl is $60,000
Assume Rita's consulting business generated $13,000 in gross income for the current year Further, assume actual expense method for computing her home office expense deduction.
Answer:
a) $7,400
b)$60,000
Explanation:
First, we need to complete the question
a) What is Rita's home office deduction for the current year?
b) What is Rita's AGI for the year?
Solution
a) Rita's Home Office Deduction for the Current Year
Description Amount ($)
Gross Income 13,000
Subtract: Her Business Expenses (5,600)
The balance 7,400
Subtract: Expenses under 1st Tier (6,700)
(Interest 5,100 + taxes 1,600)
Balance 700
Subtract: Expenses unde 2nd Tier (700)
($800 Operating Expernses before limit)
Balance 0
Subtract: Expenses under 3rd Tier (0)
1,600 Depreciation before limit
Net income from Rita's Business 0
The Deduction allowed Rita is $7,400 a totla of the home office expenses and the home operating expenses
Note that there was no expense subtracted for the Tier 3 expenses this is because Rita's income had reduced to $0 and there was nothing to subtract from
B) What is Rita's AGI for the year?
The AGI is the Rita's reported AGI of $60,000 + $0 which is the net calculated income from her business. So her AGI remains $60,000.
Final answer:
To calculate Rita's home office expense deduction, use the actual expense method by calculating the total home-related office expenses and the percentage of the home office area in relation to the total home area.
Explanation:
Rita can calculate her home office expense deduction using the actual expense method. Here are the steps:
Calculate the total home-related office expenses: real property taxes ($1,600) + interest on home mortgage ($5,100) + operating expenses of home ($800) + depreciation ($1,600) = $9,100.Calculate the percentage of the home office in relation to the total area of the home: 500 sq ft / total home area = 500 sq ft / (assumed total home area).Multiply the percentage from step 2 by the total home-related office expenses from step 1: (percentage from step 2) x (total home-related office expenses from step 1) = (percentage from step 2) x $9,100.The resulting amount is the home office expense deduction that Rita can claim.For Rita's specific case, the assumed total home area is not provided, so the calculation cannot be completed.
Johnston Company wants to double production of Product X from 1,000 units to 2,000 units. The variable manufacturing cost per unit is $10. The variable non manufacturing cost per unit is $20. There are no fixed costs. The selling price per unit is $50. What is the incremental cost of the proposed change?
A) $10,000B) $20,000C) $30,000
D) $60,000
Answer: C - $30,000
Explanation: Johnston Company wants to double production of Product X from 1,000 units to 2,000 units.
The variable manufacturing cost per unit is $10. The variable non manufacturing cost per unit is $20.
The selling price per unit is $50
To increase production by 1000 units
Total cost is $10 + $20 = $30
Total incremental cost = 1,000 * $30= $30,000
Faith Cassen has recently been hired as the manager of Gibraltar Coffee Shop. Gibraltar Coffee Shop is a national chain of franchised coffee shops. During her first month as store manager, Faith encountered the following internal control situations:
Faith caught an employee putting a case of 1,000 single-serving tea bags in his car. Not wanting to create a scene, Faith smiled and said, "I don’t think you’re putting those tea bags on the right shelf. Don't they belong inside the coffee shop?" The employee returned the tea bags to the stockroom.
I _______with Faith's method of handling this situation because she has _______the internal control principle of safeguarding of assets.
A. AGREEB. DISAGREEC. FOLLOWEDD. DID NOT FOLLOWED
Answer:
Disagree,did not followed
Explanation:
Faith Cassen has recently been hired as the manager of Gibraltar Coffee Shop. Gibraltar Coffee Shop is a national chain of franchised coffee shops. During her first month as store manager, Faith encountered the following internal control situations:
Faith caught an employee putting a case of 1,000 single-serving tea bags in his car. Not wanting to create a scene, Faith smiled and said, "I don’t think you’re putting those tea bags on the right shelf. Don't they belong inside the coffee shop?" The employee returned the tea bags to the stockroom.
I disagree with Faith's method of handling this situation because she has not followed the internal control principle of safeguarding of assets.
Internal control refers to a procedure or policy put in place by management to related measures and methods adopted in an organization to safeguard its assets, enhance reliability of accounting records, ensure compliance with laws and regulations and stop fraudulent behavior; this procedure might involve measures like physical security barriers, access restriction, locks and surveillance equipment.
Non-interest bearing notes are initially recorded at______________.a.present value, based on the prevailing interest for loans of this type.b. maturity value because they bear no interest. c. future value, based on the prevailing interest for loans of this typed. historical cost.
Answer: A present value, based on the prevailing interest for loans of this type
Explanation:
A non interest bearing note is a debt for which there is no documented requirement for the borrower to pay the lender any rate of interest. If such a note were to be resold to a third party, the debt would be sold at a discount to its face value, so that the third party purchaser would eventually realize a gain when it was redeemed by the borrower at its face value
Lisa Jameson has two job offers. One is from Pembroke Boats, a boat manufacturer that employs 200 people in a small Ohio town. Pembroke does not have an IT department and wants her to create one. The job position is called information coordinator, but she would be the only IT person. The other offer, which pays about $7,500 more annually, is from Albemarle Express, a nationwide trucking firm located in Detroit. At Albemarle Express, Lisa would be a programmer-analyst, with the promise that if she does well in her position, she eventually will move into a systems analyst position and work on new systems development. Lisa has heard a rumor that another company might acquire Albemarle Express, but that rumor has occurred before and nothing has ever happened. What should Lisa do, and why?
Answer:I personally think Lisa should accept the offer from Albemarle Express as a Programmer Analyst because annual pay is more in this offer. There is a high chance of career growth than starting from scratch and trying to make your way up like in the first offer.
Explanation:The first offer would be too demanding and it should be the one which has more pay than the second offer , considering the fact that Lisa would be creating the whole department from scratch and working alone. This second opportunity is the best more salary than the first offer , less demanding but with a higher opportunity for growth.
Lisa Jameson has to choose between a position at Pembroke Boats, offering her to lead an entire IT department, and a higher-paying role at Albemarle Express with career growth but potential job security risk. She'll need to account for personal preferences, professional goals, and the two companies' environments to make the best choice for her career path.
Explanation:Lisa Jameson is considering two job offers with different roles and benefits. The first offer is from Pembroke Boats, which gives her the opportunity to create an IT department and operate as an information coordinator. Although this might provide her with more responsibility and control, it comes with the challenge of establishing new systems alone. The second offer from Albemarle Express is for a programmer-analyst position, with a higher salary and a clear path for career advancement to systems analyst, but comes with the uncertainty of potential company acquisition. When making her decision, Lisa must weigh factors such as salary, career growth, job security, work environment, and personal career goals.
Moreover, Lisa should also consider where she would prefer to live, the company culture, and whether she is looking for a start-up like experience at Pembroke Boats or a more structured role at Albemarle Express. This decision can significantly affect her career trajectory and job satisfaction. Seeking advice from current or former employees and mentors in the field could also provide valuable insights. Ultimately, it is her personal and professional priorities that will guide her decision.
At the end of October, Cranston Bottling's mixing department had "Total costs to account for" of $ 739 comma 731. Of this amount, $ 271 comma 596 related to direct materials costs, while the remainder related to conversion costs. The department had 52 comma 230 total equivalent units of direct materials and 45 comma 450 total equivalent units of conversion costs for the month.
Answer:
The question is not complete, below is the complete question:
Compute the cost per equivalent unit (processing costing step 4)
At the end of October, Cranston Bottling’s mixing department had “Total cost to account for” of $739,731. Of this amount, $271,596 related to direct material costs, while the remainder related to conversion costs. The department had 52,230 total equivalent units of direct materials and 45,450 total equivalent units of conversion costs for the month.
Compute the cost per equivalent unit for direct materials and the cost per equivalent unit for conversion costs.
Answers:
a. cost per equivalent unit for direct material = $5.2
b cost per equivalent unit for conversion costs = $10.3
Explanation:
To calculate the cost per unit of a material, we have to determine the total costs, the total units produced, then divide the total costs by the total units.
In this example, there are two costs of interest; cost for direct materials and cost for conversion.
Total cost = cost of direct material + conversion cost = $739,731
cost for direct material = $271,596
∴ conversion cost = Total cost - cost of direct material
= 739,731 - 271,596 = $468,135
Next, we are told the units for each of the costs;
total unit of Direct materials cost= 52,230
total unit of conversion cost = 45,450
Finally to get the cost per equivalent unit, we will divide the total costs each by their respective total units;
cost per equivalent unit for direct material = cost for direct material ÷ total units of direct material cost
= 271,596 ÷ 52230 = $5.2
cost per equivalent for conversion cost = total conversion cost ÷ total units of conversion cost
= 468,135 ÷ 45,450 = $10.3
wanita Enterprises sells computer flash drives for $ 3.44 per unit. Unit variable cost is $ 0.05. The breakeven point in units is 3 comma 600, and expected sales in units are 4 comma 300. What is the margin of safety in dollars? A. $ 35 B. $ 12 comma 384 C. $ 2 comma 373 D. $ 2 comma 408
Answer:
D. $ 2 comma 408
Explanation:
Margin of safety is the contribution over break-even point which make the profit for the business. It is the actual margin from which the business is safe from loss.
Sales Price = $3.44 per unit
Variable cost = 0.05 per unit
Break-even point = 3,600 per unit
Expected sale = 4,300 per unit
Margin of safety sales volume = Total Sales - Break-even point
Margin of safety sales volume = 4,300 - 3,600 = 700 units
Margin of Safety in dollars = 700 units x 3.44 = $2,408
Many American companies enter china through joint ventures with local firms, but china is succeeding in the United States primarily with a strategy of buying companies outright. What are some factors that might account for this difference?
Answer:
(1) The preference of the Chinese firms to expand through outright purchase which aides them to retain key positions in order to have a firm control on the business.
(2) Chinese companies are ready to take more risk than American companies
(3) Chinese companies are more interested in opportunities to provide growth and innovation.
Explanation:A Joint venture business is a business organisation owned by two or more persons or organisations who pull resources together in order to achieve a common goal.
The resources pulled together can be in the form of finance, expertise,infrastructures etc, a joint venture business is also another form of merger known commonly with profit making organisations.
Differences in regulation, culture, market access, IP concerns, government support, risk perception, and market maturity influence American joint ventures in China and Chinese acquisitions in the U.S.
Several factors contribute to the difference in market entry strategies between American companies in China and Chinese companies in the United States:
1. Regulatory Environment : China's regulatory environment historically favored joint ventures as a means for foreign companies to enter the market, with the Chinese government often mandating local partnerships for certain industries. Conversely, the U.S. has generally had more open regulations regarding foreign ownership, allowing Chinese firms to acquire companies outright.
2. Cultural Differences : Chinese business culture tends to prioritize relationships and long-term partnerships. Joint ventures can be seen as a way to build trust and establish connections with local partners. On the other hand, American business culture often values independence and control, which may lead U.S. companies to prefer full ownership when expanding abroad.
3. Market Access : China's vast market and potential for growth may incentivize American companies to enter through joint ventures to gain quicker access and local expertise. Conversely, Chinese companies entering the U.S. market may have sufficient resources to directly acquire companies to gain immediate market share.
4. Intellectual Property Concerns : Some American companies may be wary of sharing intellectual property and proprietary technology in joint ventures in China, opting instead to retain full control through acquisitions in the U.S. market where intellectual property protection is generally stronger.
5. Government Support and Subsidies : Chinese government support and subsidies for overseas acquisitions, particularly for strategic industries, may encourage Chinese companies to pursue outright acquisitions in the United States as a means of expanding their global footprint.
6. Risk Management : American companies may perceive joint ventures in China as riskier due to concerns about regulatory changes, intellectual property theft, and potential conflicts with local partners. Acquiring companies outright in the U.S. may be seen as a more straightforward way to mitigate these risks.
7. Market Maturity : The maturity of the market also plays a role. China, being a developing market, might require closer collaboration and knowledge-sharing through joint ventures. In contrast, the U.S. market is more mature, and Chinese companies may find it easier to acquire existing businesses rather than starting from scratch.
These factors, among others, shape the differing strategies employed by American companies in China and Chinese companies in the United States.
Who investigates complaints of the Holden Act and takes remedial action as required by law? The Department of Housing and Urban Development The Consumer Protection Office The California Secretary of Business, Transportation and Housing The Department of Commerce
Answer:
The Department of Housing and Urban Development
Explanation:
The Holden act or the California Housing Financial Discrimination Act of 1977, states that financial institutions cannot discriminate against people applying for loans or financial assistance, for reasons such as; race, color, ethnicity and religion.
The Holden act is enforced by the Department of Housing and Urban Development.
Francis Equipment Co. closes its books regularly on December 31, but at the end of 2017 it held its cash book open so that a more favorable balance sheet could be prepared for credit purposes. Cash receipts and disbursements for the first 10 days of January were recorded as December transactions. The information is given below.
1. January cash receipts recorded in the December cash book consisting of:
Cash sales $28,000
Collections on account, for which $360 of cash discounts were given 17,640
$45,640
2.January cash disbursements recorded in the December check register liquidated accounts $22,450
Discounts taken 250
3. The ledger has not been closed for 2017.
4. The amount shown as inventory was determined by physical count on December 31, 2017.
The company uses the periodic method of inventory.
Required:
a. Prepare any entries you consider necessary to correct Francis’s accounts at December 31.
b. To what extent was Francis Equipment Co. able to show a more favorable balance sheet at December 31 by holding its cash book open?
To correct Francis Equipment Co.'s accounts at December 31, necessary adjusting entries need to be made for the cash receipts and disbursements recorded in January.
Explanation:To correct Francis Equipment Co.'s accounts at December 31, we need to make the necessary adjusting entries for the cash receipts and disbursements recorded in January. For the cash receipts, we need to subtract the $360 cash discounts given from the accounts receivable and add it to the cash sales. Thus, the entries wil be -
1. Revenues Debit $ 28,000
To Cash $ 28,000
To reverse the cash sales recorded in December
2. Account receivable Debit $ 18,000
To Sales Discounts $ 360
To Cash $ 17,640
To reverse the collections from customers and sales discounts allowed
3. Cash $ 22,450
Purchase Discounts $ 250
To Accounts payable $ 22,700
To reverse the payments made and discounts availed
4. No entry for inventory
b. Francis Equipment company managed to show a higher retained earnings of $ 28,110
For the cash disbursements, we need to subtract the discounts taken from the accounts payable and add it to the cash disbursements recorded. The effect of holding the cash book open is that it falsely inflates the cash balance, leading to a more favorable balance sheet at December 31.
Learn more about Adjusting Entries here:https://brainly.com/question/28867174
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Thakin Industries Inc. manufactures dorm furniture in separate processes. In each process, materials are entered at the beginning, and conversion costs are incurred uniformly. Production and cost data for the first process in making a product are as follows. Cutting Department Production Data—July T12-Tables Work in process units, July 1 0 Units started into production 21,200 Work in process units, July 31 3,180 Work in process percent complete 60 Cost Data—July Work in process, July 1 $0 Materials 402,800 Labor 248,464 Overhead 110,240 Total $761,504 Compute the physical units of production. T12 Tables Units to be accounted for
Answer:
physical units 21,200
EU materials 21,200
EU conversion 19,928
Explanation:
Compute the physical units of production
Tables physical units of production during the month of July:
beginning 0
Started 21,200
Total physcal units 21,200
Equivalent units:
materials 21,200 as they are enterted at the beginning it matches the physcical units
conversion: 21,200 - 3,180 (1 - 0.60) = 19.928
we start 21,200 but 31,180 were completed until 60% thus we have 40% of 3,180 not completed that is subtracted.
Cost figures arise from the production function and factor payments in a company's manufacturing process. Costs are affected by labor, materials, overhead, and can be influenced by changes such as wage negotiations. Understanding economies of scale and revising costs due to fixed cost changes or wage increases are key to business decision-making.
Explanation:The origin of cost figures in the provided scenario can be attributed to the production function and factor payments within a manufacturing process. Specifically, these costs emerge from the inputs required to produce goods, including labor, materials, and overhead expenses. The production function can be exemplified by the number of widgets produced per worker, reflecting labor productivity. A change in the factor payments, such as a union-negotiated wage increase, can influence the production method by possibly prompting a shift towards more capital-intensive production with reduced labor input.
Understanding economies of scale is crucial when analyzing the cost figures. A plant's average production cost decreases as it scales up production due to the spreading of fixed costs over a larger quantity of goods. This is evident from a scenario where plants producing higher volumes enjoy a lower average cost per unit.
When considering changes in fixed costs or wages, such as a reduction from $14,000 to $12,000 or an increase in labor wages from $16 to $20 per hour, it is essential to revisit and adjust the costs of production accordingly to determine the impact on the business's decision to continue operations or modify its production strategy.
g When a company’s resources are valuable, rare, imperfectly imitable, and nonsubstitutable, it has a . Necessary to sustain a competitive advantage, _____ resources are not controlled or possessed by many competing firms.
Answer:
Rare resources
Explanation:
Rare resources are unique resources that is not controlled or possessed by many competing firms. Only a small number of competing companies control it. It usually stands out by being distinctive among the set of future competitors. Rare resources are short in supply and capable of persisting over an extended time, this makes it a source of competitive advantage for a company.
Answer: rare resources
Explanation: rare resources simply defined are resources that are not controlled or possessed by many competing firms in an industry. They are rare by their quality being unique among potential competitors. Competitors have difficulty replicating these resources because they are difficult to imitate, are protected by legal means, or have evolved over time and thus reflects the unique aspects of a business.
5b. MousePad Computer Company, in addition to its retail sales, conducts night classes in computer technology. MousePad has provided you the following information: Number of students 120 Revenue per student $450 Student-related variable costs $100 per student Salary for three instructors $1,800 each Administrative costs $30 per student Maintenance on building $15,000 per year Required: Construct a contribution margin format income statement.
Answer:
Net Income = $18,000
Explanation:
MousePad Computer Company
Contribution Margin Income statement
Revenue (120 students × $450) = $54,000
Less: Variable expenses:
Student-related costs (120 students × $100) = $12,000
Administrative costs (120 students × $30) = $ 3,600
Total variable expenses =($15,600)
Contribution Margin $38,400
Less: Fixed cost
Instructors salary (3 × $1,800) = $ 5,400
Maintenance on building = $15,000
Total fixed cost =$(20,400)
Net Operating Income =$18,000
Note:
Students cost is a variable expense, because if we decrease the student's number, the revenue and expenses will decrease proportionately. Moreover, the company is getting profit from the students.
On January 1, C company sells 50,000 shares of $3 par common stock for $5. It does not issue any preferred stock. Later on the company buys back 10% of its common shares outstanding for $7 per share. Total equity on December 31 is $300,000. What is retained earnings on December 31
Answer:
$85,000
Explanation:
Given that,
Shares sold = 50,000 shares of $3 par common stock for $5
Buys back = 10% of its common shares outstanding for $7 per share
Total equity on December 31 = $300,000
Balance in stockholder's equity without retained earnings:
= Beginning balance in stockholder's equity + Increase in stockholder's equity - Decrease in stockholder's equity
= $0 + (50,000 × $5) - (50,000 × 10% × $7)
= $250,000 - $35,000
= $215,000
Retained earnings on December 31:
= Total equity at December 31 - Balance in stockholder's equity without retained earnings
= $300,000 - $215,000
= $85,000
Markland Manufacturing intends to increase capacity by overcoming a bottleneck operation by adding new equipment. Two vendors have presented proposals. The fixed costs are $ 60 comma 000 for proposal A and $ 75 comma 000 for proposal B. The variable cost is $ 13.00 for A and $ 11.00 for B. The revenue generated by each unit is $ 24.00.What is the break-even point in units for proposal A?What is the break-even point in units for proposal B?
Answer:
Proposal A: 5,455 units
Proposal B: 5,770 units
Explanation:
The break-even point is the number of units required for the revenue to equal the total costs.
For proposal A:
Fixed Costs = $60,000
Variable Costs = $13 / unit
Selling Price = $24 / unit
[tex](P-VC)*n-FC = 0\\(24-13)*n-60,000 = 0\\n=5,454.5\ units[/tex]
For proposal B:
Fixed Costs = $75,000
Variable Costs = $11 / unit
Selling Price = $24 / unit
[tex](P-VC)*n-FC = 0\\(24-11)*n-75,000 = 0\\n=5,769.2\ units[/tex]
Rounding up to the next whole unit, the break-even points for proposal A and B, respectively, are 5,455 and 5,770 units.
Under the IMA's standards of ethical practice, an accounting professional can consider informing authorities or individuals not employed by the organization when an ethical dilemma occurs about an accounting or financial reporting matter that remains unresolved if he/she:A. Believes there is a clear violation of the lawB. Contacts his/her immediate superior who says to forget about the matterC. Informs the external auditors who tell him/her to inform the appropriate authoritiesD. Believes there has been an ethical violation
Answer: Believes there has been an ethical violation
Explanation: IMA's overarching ethical principles include: Honesty, Fairness, Objectivity, and Responsibility. Members shall act in accordance with these principles and shall encourage others within their organizations to adhere to them. A member's failure to comply with the following standards may result in disciplinary action.
Refresh produces soft drinks and sodas. Production of 103,000 liters was started in February, 88,000 liters were completed. Material costs were $52,020 for the month while conversion costs were $32,580. There was no beginning work-in-process; the ending work-in-process was 40% complete. What is the cost of the product that remains in work-in-process?a.$54,600 b.$51,000 c.$46,410 d.$38,220
Answer:
$79200
Explanation:
Equivalent production
=$88000+[40%*(103000-88000)
=94 000 units
Cost per unit
=(52020+32580)/94 000
=$0.9
Costs=88 000* $0.9
=$79 200
g the three types of unemployment are A. voluntary, structural, and cyclical unemployment. B. frictional, structural, and cyclical unemploment. C. natural, unnatural, and cyclical unemployment. D. full, frictional, and involuntary unemployment. The type of unemployment most likely to result in hardship for the people who are unemployed is A. structural because this type of unemployment requires retraining to acquire new job skills. B. cyclical and frictional because these two types are closely related. C. frictional because people need to find a new job in the labor market. D. cyclical because people have to wait for a recession to end.
Answer: The three main types of unemployment are cyclical, frictional and structural unemployment. B
Explanation:
B. Cyclical and frictional are both related as they tend to cause more hardship because of its severity.