Answer:
13.82%
Explanation:
Data provided in the question:
Sales = $325,000
Net income = $19,000
Assets = $250,000
Total-debt-to-total-assets ratio = 45.0% = 0.45
Now,
Total asset turnover = Sales ÷ Total assets
= $325,000 ÷ $250,000
= 1.3
Profit margin = Net income ÷ Sales
= $19,000 ÷ $325,000
= 0.05846
Equity multiplier = 1 ÷ [ 1 - Debt to asset ratio]
= 1 ÷ [ 1 - 0.45 ]
= 1.818
thus,
ROE = Profit margin × Total asset turnover × Equity multiplier
= 0.05846 × 1.3 × 1.818
= 0.1382
or
= 0.1382 × 100%
= 13.82%
Transferring core competencies and resource strengths from one country market to another is: A. a good way for companies to develop broader or deeper competencies and competitive capabilities that can become a strong basis for sustainable competitive advantage.B. best accomplished with a multidomestic strategy as opposed to a global strategy.C. feasible only with a global strategy; it can't be done with a multidomestic strategy.D. unlikely to result in a competitive advantage.E. nearly always the easiest and most sure-fire way to build competitive advantage in trying to compete successfully in foreign markets
Transferring core competencies and resource strengths from one country market to another is : nearly always the easiest and most sure-fire way to build competitive advantage in trying to compete successfully in foreign markets
Explanation:
Cross-border sharing or transition of capital and skills across boundaries offers an economic means by which a business can further exploit its core competencies and expand its competitive advantages to a wider variety of regional markets.
An effective way for enterprises to build wider or deeper competencies and strategic capabilities which can become the cornerstone of a sustained competitive advantage.
Sally Smith decided to start a sea shell business organized as a corporation. Her initial investment in the business consisted of $10,000 in cash in exchange for common stock. Record this transaction in the accounting equation of the new business by___________.
When Sally Smith invests $10,000 cash into her new corporation in exchange for common stock, she increases both the company's assets and owner's equity by $10,000. This reflects in the accounting equation as: $10,000 (Assets) = $0 (Liabilities) + $10,000 (Owner's Equity).
Explanation:In this scenario, Sally Smith creates a corporation and makes an initial investment of $10,000 cash which is exchanged for common stock. To record this transaction in the new business's accounting equation, we need to understand that the accounting equation is Assets = Liabilities + Owner's Equity. Her investment increases the company's assets (cash) by $10,000 and at the same time increases the owner's equity (common stock) by $10,000. Therefore, the equation after this transaction is as follows: $10,000 (Assets) = $0 (Liabilities) + $10,000 (Owner's Equity).
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In December, Textra Motors produced 16,600 customized SUVs at its plant in New Mexico. The labor productivity at this plant is known to have been 0.18 SUV per labor-hour during that moth. 540 laborers were employed at the plant that month. How many hours did the average laborer approximately work that month? [ Select ] If productivity can be increased to 0.21 SUVs per hour, how many hours would the average laborer work that month? Select]
Answer:
Explanation:
Productivity = Units produced / labor hours
0.18 = 16,600 / labor hours
Labor hours = 16600 / 0.18 = 92222.22 hours
1. Hours per labor = labor hours / Number of labor
= 92222.22 / 540 = 170.78 hours
2. Productivity = 0.21
Labor hours = 16600 / 0.21 = 79047.62
Hours per labor = 79047.62 / 540 = 146.38
Suppose a family has saved enough for a 10 day vacation (the only one they will be able to take for 10 years) and has a utility function U = V1/2 (where V is the number of healthy vacation days they experience). Suppose they are not a particularly healthy family and the probability that someone will have a vacation-ruining illness (V = 0) is 20%. What is the expected value of V?
Answer:
2 Days
Explanation:
First, there is the need to rewrite the utility function for clarity
U=V^{1/2}
1. The Probability of Falling ill by someone in the family is given as 20%
2. If someone should fall ill, the total number of days that would be spoiled is calculated as:
Total number of vacation= 10 days x Probability to fall ill = 20%
= 10 x 0.2 = 2 days
This means if someone should fall ill based on the probability, then 2 out of the total 10 days can be ruined
3. The number of days for vacation days to enjoy is 10-2 = 8 days
This means if the family gives up 2 days of probable illness, they can still enjoy their vacation.
V= 2 days
In order to be the basis for a firm's superior performance, a bundle of resources must be valuable, rare, and imitable.
True
False
Answer:
The statement is: False.
Explanation:
A bundle of resources has three characteristics: valuable (the resource helps the company to pursue its objectives and is priceless for consumers), rare (limited competition), and inimitable (resource is not easy to reproduce by the firm's closest competitors or imitating it is expensive).
Being imitable is the opposite of what a bundle of resources should be.
On July 1, R. Selleck and M. Monroe formed a partnership to provide legal services to clients. Selleck's investment is $10,000 cash and office equipment of $5,000. Monroe's net investment is also $10,000, but it is comprised of cash $15,000 and a note payable reflecting a bank loan for the new business $5,000.
Record R. Selleck’s investment by selecting the account names from the drop-down menus and entering the dollar amounts.
Answer:
See explanation section
Explanation:
Journal entry to record R. Selleck's Investment is as follows:
Debit Cash $10,000
Debit Office Equipment $5,000
Credit Capital, R. Selleck $15,000
Since he provides cash and office equipment, both the investment will be considered as capital of R. Selleck. Since he does not take any loan to provide money to the partnership business, no entry is made for loan.
Suppose that weekly output is worth $1000, and labor and materials costs are $300 and $200,respectively. What is the multifactor productivity ratio? a. 1000b. 8c. 2d. 3e. 0.5
Answer:
c. 2
Explanation:
The multifactor productivity ratio can be determined using the below mentioned formula:
Multi factor productivity=Output worth/cost of material+cost of labor
In the given question:
Output worth=$1,000
cost of material+cost of labor=$300+$200=$500
Multifactor productivity=$1,000/$500=2
So based on the above calculation, the answer is c. 2
The multifactor productivity ratio in this scenario is 2, which signifies that the company is achieving a level of productivity where it generates $2 worth of output for every $1 spent on labour and materials. The correct answer is D. 2.
The multifactor productivity ratio is calculated by dividing the total output value by the total cost of inputs, which includes Labour and materials. In this case:
Total Output Value = $1,000 (weekly output worth)
Total Cost of Inputs = Labor Cost + Materials Cost = $300 + $200 = $500
Now, calculate the multifactor productivity ratio:
Multifactor Productivity Ratio = Total Output Value / Total Cost of Inputs
Multifactor Productivity Ratio = $1,000 / $500
Multifactor Productivity Ratio = 2
So, the multifactor productivity ratio is 2 (option c).
In other words, for every $1 spent on labour and materials combined, the company generates $2 worth of output.
This ratio indicates the efficiency of using both labour and materials to produce output, with a ratio greater than 1 indicating that the inputs are being used efficiently to generate output.
The correct answer is D. 2.
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Alex, Ellen and Nicolas are equal partners in a local restaurant. The restaurant reports the following items for the current year: Business revenue $770,000 Business expenses 470,000 Investment expenses 150,000 Each partner receives a Schedule K-1 with one-third of the preceding items reported to him/her. How must each individual report these results on his/her Form 1040? $100,000 income on Schedule E; $50,000 investment expense on Schedule A $257,667 income on Schedule E; $50,000 investment expense on Schedule A $300,000 income on Schedule E; $50,000 investment expense on Schedule A $300,000 income on Schedule E; $150,000 investment expense on Schedule A
Answer:
$100,000 income on Schedule E; $50,000 investment expense on Schedule A
Explanation:
According to the Internal revenue service, the investment expense that is incurred would be eligible for the deduction and this would be added to the miscellaneous itemized deduction in Form 1040 Schedule A.
We assume that the investment expense would be incurred for the investment earning so it would be reported to Schedule A for $50,000 after considering the one-third.
And, the business income is reflected on Schedule A for $100,000 that is computed below:
= (Business revenue - business expense) ÷ given ratio
= ($770,000 - $470,000) ÷ 3
= $300,000 ÷ 3
= $100,000
Under GASB guidance when should an item be recognized on the face of the financial statements? Under whatconditions, would the GASB indicate that a note disclosure should accompany an item that has been recognized on thefinancial statements?
Answer:
If it satisfies the definition of an element and is also measurable with a high degree of reliability and accuracy
If there is a lack of clarity of any items found within the financial statement
Explanation:
According to the governing body the Governmental Accounting Standards Board, an item is only accepted in the face of a financial statement if it satisfies the characteristics of an element and must be measurable. The level of accuracy and reliability in these measures must also be high.
When there is any item found in the financial statement that lacks clarity, it is important to tag the statement with a note disclosure stating what is not clear to you. If this is done, the user is able to understand each items in the statement.
Are the following movements or shifts along/of the demand curve:
1. A decrease in the number of consumers
2. A change in tastes of consumers that makes them desire more hot dogs
3. An increase in the price of hot dogs
Answer:
Any movement which is caused by price will be along the demand curve and any other movement caused by non price factors will shift the demand curve.
1) A decrease in the number of consumers is a non price movement so the demand curve will shift leftwards because of it.
2) A change in taste of consumers making them desire more hot dogs is a non price movement and it will shift the demand curve to the right.
3) An increase in the price of hot dogs is a price movement and this will cause movement along the demand curve.
Explanation:
Coronado University sells 5,900 season basketball tickets at $210 each for its 12-game home schedule.
(a) Give the entry to record the sale of the season tickets
(b) Give the entry to record the revenue recognized after playing the first home game.
Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $1,239,000 (5,900 seasons × $210)
To Unearned basket ball tickets revenue $1,239,000
(Being the sale of the season tickets are recorded)
b. Unearned basket ball tickets revenue $103,250 ($1,239,000 ÷ 12)
To basket ball tickets revenue $103,250
(Being the revenue recognized)
Final answer:
The initial entry is a debit to Cash and a credit to Unearned Revenue for $1,239,000. After playing the first home game, the entry is a debit to Unearned Revenue and a credit to Revenue for $103,250, which is 1/12th of the total revenue.
Explanation:
When Coronado University sells season basketball tickets, the initial accounting entry to record the sale of the season tickets involves a debit and a credit. Upon the sale, they are receiving cash, which is an asset, and they are also incurring an obligation to provide seating for the games, which represents unearned revenue, a liability. The entry would be as follows:
Debit Cash $1,239,000 (5,900 tickets × $210 each)Credit Unearned Revenue $1,239,000After the first home game is played, Coronado University has fulfilled part of its obligation to ticket holders, and thus, can recognize some of the unearned revenue as earned revenue. Since there are 12 games in the season, 1/12th of the total revenue from season tickets can be recognized. The entry would be:
Debit Unearned Revenue $103,250 (1/12 of $1,239,000)Credit Revenue $103,250SDJ, Inc., has net working capital of $2,170, current liabilities of $4,590, and inventory of $3,860. a. What is the current ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the quick ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
1.47 times ; 0.63 times
Explanation:
Given that,
Net working capital = $2,170,
current liabilities = $4,590
Inventory = $3,860
Current assets = net working capital + current liabilities
= $2,170 + $4,590
= $6,760
Current ratio = current assets ÷ current liabilities
= $6,760 ÷ $4,590
= 1.47 times
Quick ratio = (current assets - inventory) ÷ current liabilities
= ($6,760 - $3,860) ÷ $4,590
= 0.63 times
In 1987, George Bell batted 649 times. He had 39 walks, 105 singles,32 doubles, 4 triples, and 47 home runs. In 1987, Wade Boggs batted 656times. He had 105 walks, 130 singles, 40 doubles, 6 triples, and 24 homeruns. In 1987, Alan Trammell batted 657 times. He had 60 walks, 140singles, 34 doubles, 3 triples, and 28 home runs. In 1987, Tony Gwynnbatted 671 times. He had 82 walks, 162 singles, 36 doubles, 13 triples, and7 home runs. Calculate the number of hits plus walks?
Answer:
George Bell had 231 hits plus walks.
Wade Boggs had 305 hits plus walks.
Alan Trammell had 265 hits plus walks.
Tony Gwynn had 300 hits plus walks.
Explanation:
In baseball, a basehit is either a single, a double, a triple or a home run. So
George Bell
39 walks, 105 singles,32 doubles, 4 triples, and 47 home runs.
39 + 105 + 32 + 4 + 51 = 231
George Bell had 231 hits plus walks.
Wade Boggs
105 walks, 130 singles, 40 doubles, 6 triples, and 24 homeruns.
105 + 130 + 40 + 6 + 24 = 305
Wade Boggs had 305 hits plus walks.
Alan Trammell
60 walks, 140singles, 34 doubles, 3 triples, and 28 home runs.
60 + 140 + 34 + 3 + 28 = 265
Alan Trammell had 265 hits plus walks.
Tony Gwynn
82 walks, 162 singles, 36 doubles, 13 triples, and 7 home runs.
82 + 162 + 36 + 13 + 7 = 300
Tony Gwynn had 300 hits plus walks.
Byron Books Inc. recently reported $13 million of net income. Its EBIT was $20.8 million, and its tax rate was 35%. What was its interest expense?
Answer:
$0.8million
Explanation:
Net income of any corporation can be calculated as follows:
Net income=EBIT-interest expense-tax expense
Net income=$13 million
Interest expense=?
tax expense=(EBIT- interest expense)*35%=($20.8million- interest expense)*35%
13=20.8-interest expense-($20.8million- interest expense)*35%
13=20.8-interest expense-(7.28-0.35*interest expense)
13=20.8-interest expense-7.28+0.35*interest expense
13=13.52-0.65*interest expense
13-13.52=-0.65*interest expense
-0.52=-0.65*interest expense
interest expense=-0.52/-0.65=$0.8million
Byron Books Inc.'s interest expense can be calculated by subtracting the net income after tax from the net income before interest, which is derived by deducting taxes from EBIT. The interest expense is $520,000.
To calculate Byron Books Inc.'s interest expense, we start with the company's EBIT (Earnings Before Interest and Taxes) which is $20.8 million. We know that the net income after tax is $13 million and the tax rate is 35%. First, we need to calculate the taxes Byron Books would pay on its EBIT:
Taxes = EBIT × Tax Rate = $20.8 million × 35% = $7.28 million.
Subtracting the taxes from EBIT yields the net income before interest.
Net Income Before Interest = EBIT - Taxes = $20.8 million - $7.28 million = $13.52 million.
Since the net income after taxes is $13 million, the difference between the net income before and after interest gives us the interest expense:
Interest Expense = Net Income Before Interest - Net Income After Tax = $13.52 million - $13 million = $0.52 million or $520,000.
Sweeten Company had no jobs in progress at the beginning of March and no beginning inventories. The company has two manufacturing departments--Molding and Fabrication. It started, completed, and sold only two jobs during March—Job P and Job Q. The following additional information is available for the company as a whole and for Jobs P and Q (all data and questions relate to the month of March): Molding Fabrication Total Estimated total machine-hours used 2,500 1,500 4,000 Estimated total fixed manufacturing overhead $ 10,000 $ 15,000 $ 25,000 Estimated variable manufacturing overhead per machine-hour $ 1.40 $ 2.20 Job P Job Q Direct materials $ 13,000 $ 8,000 Direct labor cost $ 21,000 $ 7,500 Actual machine-hours used: Molding 1,700 800 Fabrication 600 900 Total 2,300 1,700 Sweeten Company had no underapplied or overapplied manufacturing overhead costs during the month. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions 9-15, assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments.
Answer: this question is a lot of work. 5 steps were done for you
Explanation:
The unit manufacturing cost for Job P is $24,812.50, and for Job Q, it is $6,687.50, with a total overapplied overhead of $1,875.
1. Calculate the Plantwide Predetermined Overhead Rate:
Total Estimated Manufacturing Overhead / Total Estimated Machine Hours
= $25,000 / 4,000 machine-hours
= $6.25 per machine-hour
2. Calculate Total Manufacturing Overhead Applied to Jobs P and Q:
Job P:
Molding Department: 1,700 machine-hours x $6.25 per machine-hour = $10,625
Fabrication Department: 800 machine-hours x $6.25 per machine-hour = $5,000
Total = $10,625 + $5,000 = $15,625
Job Q:
Molding Department: 900 machine-hours x $6.25 per machine-hour = $5,625
Fabrication Department: 900 machine-hours x $6.25 per machine-hour = $5,625
Total = $5,625 + $5,625 = $11,250
3. Calculate Total Cost for Jobs P and Q:
Job P:
Direct Materials + Direct Labor + Manufacturing Overhead Applied
= $13,000 + $21,000 + $15,625
= $49,625
Job Q:
Direct Materials + Direct Labor + Manufacturing Overhead Applied
= $8,000 + $7,500 + $11,250
= $26,750
4. Calculate Underapplied or Overapplied Manufacturing Overhead for the Entire Company:
Total Actual Manufacturing Overhead - Total Manufacturing Overhead Applied
= $25,000 - ($15,625 + $11,250)
= $25,000 - $26,875
= -$1,875 (Overapplied)
5. Calculate Overapplied Manufacturing Overhead in the Molding Department:
Total Actual Manufacturing Overhead - Manufacturing Overhead Applied in Molding
= $10,000 - $10,625
= -$625 (Overapplied)
Calculate Overapplied Manufacturing Overhead in the Fabrication Department:
Total Actual Manufacturing Overhead - Manufacturing Overhead Applied in Fabrication
= $15,000 - $5,000
= $10,000 (Underapplied)
6. Calculate the Unit Manufacturing Cost for Jobs P and Q:
Job P: Total Cost for Job P / Number of Units for Job P
= $49,625 / 2 units
= $24,812.50 per unit
Job Q: Total Cost for Job Q / Number of Units for Job Q
= $26,750 / 4 units
= $6,687.50 per unit
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Which of the following are non-cash expenses on the income statement? Amortization expense Income tax expense Depreciation expense Interest expense
Answer:
Depreciation and amortization are non cash expenses.
Explanation:
Amortization expense is a non cash expense because amortization is an accounting technique used to lower the book value of a loan or intangible asset and since there are no payments or cash involved this is a non cash expense.
Depreciation is also a non cash expense as it is accounting technique used to lower the book value of fixed assets therefore no cash is used in this transaction and it is a non cash expense.
Income tax expense and interest expense are not non cash expenses as cash is involved in these transactions.
The non-cash expenses in your list are Amortization Expense and Depreciation Expense. These represent the gradual loss in value of assets, whether they're tangible (like equipment or buildings) or intangible (like patents or licenses). Income Tax Expense and Interest Expense aren't considered as non-cash expenses.
Explanation:Non-cash expenses are business expenses that do not involve any actual cash transfer but instead represent a measurable depletion of assets. These can be found on an income statement and are primarily used in accrual-based accounting. The non-cash expenses you have mentioned are Amortization expense and Depreciation expense.
Amortization Expense: It refers to the cost of using intangible assets like patents, licenses, etc., over their useful life. It's termed as an expense because, even without an outflow of cash, there's a gradual loss of the asset's value.
Depreciation Expense: This refers to the cost of using tangible assets like equipment, vehicles, or buildings over their identified useful life. Despite no immediate cash outlay, there’s an inherent loss of value in these assets which must be accounted for over time.
On the other hand, Income Tax Expense and Interest Expense are not considered non-cash expenses since they directly incur a cash outflow or directly reduce cash availability.
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Your current assignment at York Foods is to find the major benefits people look for in product classes, the kinds of people who look for each advantage, and the major brands that deliver each advantage. What is the segmentation method called ____?
Answer:
The answer is "benefit"
Explanation:
Segmentation is part of the business, also known as the analysis, in which the organization is separated into smaller groups based on factors like age, income, personality or behavior.
It refers to brands, that use a hybrid method with more than one form of segmentation. This method is also known as profit segmentation, which distinguishes the market according to the interest, profit or gains expected from a product or service, that is provided by the customer.
What are the two main difficulties that arise in comparing the GDP of different countries?
Final answer:
Comparing the GDP of different countries is complicated by the need for currency conversion and differences in population size. GDP per capita is a better measure but still fails to fully capture the standard of living due to its exclusion of key factors such as income distribution and nonmarket activities.
Explanation:
Difficulties in Comparing GDP of Different Countries
When comparing the Gross Domestic Product (GDP) of different countries, two main difficulties arise. The first issue is currency conversion. Since each country measures its GDP in its own currency, it is necessary to convert all GDP figures into a common currency, often done using exchange rates. However, exchange rates fluctuate and may not truly reflect the purchasing power parity between different countries.
The second significant challenge is related to population size. A country's total GDP might be large due to its larger population rather than higher economic welfare. Hence, economists often use GDP per capita, which divides the GDP by the number of people in a country, to get a better gauge of individual economic well-being and make more meaningful comparisons between nations of varying population sizes.
Limitations of GDP as a Standard of Living Measure
Economists argue that GDP should not be considered an effective measure of the standard of living within a country for several reasons. GDP does not account for the distribution of income among residents of a country, nor does it reflect nonmarket transactions, such as household labor and volunteer work, which can contribute significantly to people's well-being. Additionally, GDP does not consider environmental degradation or depletion of natural resources that result from production and can lead to a decline in the quality of life.
Comparing GDP across countries faces challenges due to currency conversion issues and differences in economic structures and price levels, affecting the accuracy of comparisons.
Two main difficulties in comparing the GDP of different countries are:
1. Currency Conversion : GDP figures are reported in the national currency of each country, making it challenging to compare directly due to exchange rate fluctuations and differing purchasing power.
2. Differences in Economic Structure and Price Levels : Each country's economy is unique, with different industries, consumption patterns, and price levels. These variations can distort comparisons of GDP, as some economies may prioritize certain sectors or have higher or lower costs of living.
the initial business model of the ocean house focused on investing in the development of its staff in the early years before raising its rates to generate higher profits. in this regard , Ocean house was implementing which business model?
Answer:
Strategic Human Resources Management
Explanation:
Strategic human resource management is the process of ensuring that employees are attracted, developed, rewarded and retained in order to maximize benefits not only for the employees alone but also for the whole organization.
Strategic human resource management is practiced in such a way that the goals of human resource department and the rest of the organization are in the same direction of ensuring organisational success. This is done by ensuring the best employees required by each department in the organisation are recruited as at when needed, provided adequate training and duly motivated. Therefore, strategic human resource management renders support to the organizational success.
Advantages of Strategic human resource management include high customer satisfaction rates, rise in job satisfaction, increased productivity, allows resources to be managed efficiently, and among others.
All the best.
The corporation's task environment: a. encompasses the physical working areas of the organization. b. includes those elements or groups within an organization's industry. c. is an advisory committee to top-management. d. is an accounting of the many jobs within an organization. e. is the job requirement specification listing necessary skills and abilities.
Answer:
b. includes those elements or groups within an organization's industry.
Explanation:
A corporation's task environment are components that affects and can be affected by an organization's mode of operation. They are external factors that could hinder a business from achieving her goals, aims and objectives, such factors includes customers, suppliers, supply of labour, regulations and regulators, etc.
It must be generally noted that every corporation's task environment is always and constantly changing, and this changes comes with their own challenges.
Xytex Products just paid a dividend of $2.62 per share, and the stock currently sells for $36. If the discount rate is 15 percent, what is the dividend growth rate?
Growth rate___%.
Answer:
Po = Do( 1 + g)
Ke - g
$36 = $2.62(1 + g)
0.15 - g
$36(0.15 - g) = $2.62(1 + g)
$5.4 - 36g = $2.62 - 2.62g
$5.4 - $2.62 = -2.62g + 36g
$2.78 = 33.38g
2.78 = g
33.38
g = 0.0833 = 8.33%
Explanation:
In this case, we will apply the formula for determining the current market price of a share (Po). The current market price, the current dividend paid (Do) and the discount rate (Ke) were provided in the question with the exception of growth rate (g). Therefore, we will make the growth rate the subject of the formula.
The cost of finished goods manufactured will exceed the cost of goods sold whenever: Multiple Choice The inventory of finished goods increases over the period. The inventory of work in process increases over the period. The inventory of finished goods decreases over the period. The inventory of work in process decreases over the period.
Answer:
The inventory of finished goods increases over the period.
Explanation:
mathematically:
Cost of finished goods inventory = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Cost of Goods Sold
= The Ending Finished Goods Inventory Amount
The cost of finished goods manufactured will exceed the cost of goods sold when the inventory of finished goods increases. This is because more production requires larger quantities of inputs, therefore more cost.
Explanation:The subject matter here is financial in nature, dealing with concepts related to the cost of goods sold and goods manufactured - vital pieces of understanding for any business. You asked, 'The cost of finished goods manufactured will exceed the cost of goods sold whenever:' and provided multiple choice options. Essentially, the cost of finished goods manufactured will exceed the cost of goods sold whenever the inventory of finished goods increases over the period. This is because producing more goods will require larger quantities of inputs that increase production costs. Therefore, when the inventory of final goods increases, it implies that more goods have been produced than sold, leading to an increase in the cost of goods manufactured. This explanation also aligns with the concept of Quantity Supplied, which illustrates that the cost increases as a firm produces higher quantities of output.
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Wright & Boyle Inc. had the following income statement for the month of May: Sales revenue $470,800.00 Cost of goods sold 217,766.40 Gross margin $ 253,033.60 Less: $86,199.20 Selling expenses Administrative expenses 74,942.80 Operating income $91,891.60 What was the cost of goods sold percent? (Note: Round answer to two decimal places.) a. 19.45% b. 100.51% C. 52.56% d. 46.25%
Answer:
Option (d) is correct.
Explanation:
Given that,
Sales revenue = $470,800.00
Cost of goods sold = $217,766.40
Selling expenses = $86,199.20
Administrative expenses = $74,942.80
Cost of Goods sold (%):
= (Cost of Goods Sold ÷ Sales Revenue) × 100
= (217,766.40 ÷ 470,800.00) × 100
= 46.25%
Therefore, the cost of goods sold percent is 46.25.
The cost of goods sold percent for Wright & Boyle Inc. is 46.25%, calculated by dividing the COGS by the Sales Revenue and multiplying by 100.
To calculate the cost of goods sold percent, we should compare the cost of goods sold (COGS) to the total sales revenue. We can use the formula:
Cost of Goods Sold Percent = (Cost of Goods Sold / Sales Revenue) imes 100
In Wright & Boyle Inc.'s case, their COGS is $217,766.40 and their Sales Revenue is $470,800.00. Plugging these numbers into the formula gives us:
(217,766.40 / 470,800.00) imes 100 = 46.25%
So, the cost of goods sold percent for Wright & Boyle Inc. for May is 46.25%.
Which of the following statements is correct? A. Control is most effective when two or three people are given responsibility for the same task. B. The person who has custody of assets should not perform the record keeping for the assets. C. The person who has custody of assets should also perform the record keeping for the assets. D. It is often a waste of company resources to have an employee perform independent internal verification.
Answer:
"B"
Explanation:
Segregation of duties is a major international control procedure where responsibilities are shared between two or more individuals.
The aim is to minimize or prevent the opportunity for a particular individual to execute and cover up fraudulent activities.
It is arranged in a way that an individual is in the position to keep a check over the activities of the other party.
Before a customer is willing to accept a change to the proposed project, the contractor must provide a/an ___ along with an indication of the schedule impact, prior to implementing the change to the
a. format change
b. impact statement
c. price estimatee
d project.
Answer:
c. price estimate
Explanation:
Before a customer is willing to accept a change to the proposed project, the contractor must provide a/an price estimate along with an indication of the schedule impact, prior to implementing the change.
The estimation of costs is an assessment of a plan, project, or service expense. The estimated cost is the result of the method of calculating costs. The cost estimate has a single total value, and the component costs may be recognizable.
Read the example and determine whether it is a decisional, interpersonal, or informational role.
Example of manager role:
1. After a series of layoffs, the CEO meets with employees to explain how the company plans t move forward and to ease their concerns
2. GE cEO, Jeff Immert, makes a tough cholce to sell NBCUniversal to Comcast
3. Keisha, public relations manager for the American Red Cross, does radio and newspaper nterviews to share the Red Cross message with the public
Answer:
Interpersonal.Decisional roles.Interpersonal.Explanation:
Managerial Roles: Henry Mintzberg has identified the roles managers play as they engage themselves in work. Managerial role refers to any specific action that is expected by a manager.
Interpersonal roles: These are the ones that involve people and other duties that are ceremonial and symbolic. There are 3 informational roles that a manager plays Figurehead, Leader, and Liaison.Decisional roles: It involves making decisions or choices, There are 4 decisional roles Entrepreneur, Disturbance Handler, Resource allocator, and Negotiator. Informational roles: These roles involve receiving and transferring of information, It also involves 3 roles, Monitor, Dissemniator, and Spokesperson.
Final answer:
The example of the manager role that best fits the description of an informational role is when the CEO meets with employees to explain the company's plans and address concerns.
Explanation:
The example of the manager role that best fits the description of an informational role is:
After a series of layoffs, the CEO meets with employees to explain how the company plans to move forward and to ease their concerns.
In this example, the manager is providing information to the employees about the company's plans and addressing their concerns.
The other examples can be categorized as follows:
The example of the CEO making a tough choice to sell NBCUniversal to Comcast is a decisional role as the CEO is making a major decision that impacts the company.The example of the public relations manager doing interviews to share the Red Cross message with the public is an interpersonal role as the manager interacts with others to promote the organization's message.
A country can produce either 201 units of good Y or 119 units of good X. If they want to produce 31 units of good X, how many units of good Y are they able to produce? Enter a number rounded to two decimal places.
Answer:
148.64
Explanation:
Assuming that the means of production are uniformly divided for both products, the total production capacity used up for producing 31 units of good X is:
[tex]C_x = \frac{31}{119}=0.2605[/tex]
The capacity remaining for good Y is:
[tex]C_y =1 - C_x = 0.7395[/tex]
The number of units of good Y that can be produced is:
[tex]Y = 0.7395*201=148.64[/tex]
The country is able to produce 148.64 units of good Y.
To find the number of units of good Y that can be produced when 31 units of good X are produced, we can calculate the opportunity cost. The country can produce approximately 52.86 units of good Y.
Explanation:To find the number of units of good Y that can be produced when 31 units of good X are produced, we can use the concept of opportunity cost. The opportunity cost is the value of the next best alternative forgone when a choice is made. In this case, we can calculate the opportunity cost of producing 31 units of good X in terms of good Y.
The country can produce either 201 units of good Y or 119 units of good X. We can set up a proportion to find the number of units of good Y:
Y / X = 201 / 119
Substituting the known values:
Y / 31 = 201 / 119
Cross-multiplying:
119Y = 201 * 31
Dividing both sides by 119:
Y = (201 * 31) / 119
Calculating:
Y ≈ 52.86
Therefore, when the country produces 31 units of good X, they are able to produce approximately 52.86 units of good Y.
According to the federal Administrative Procedure Act, an agency is any governmental authority besides Congress and the courts. Which function does not fall under the category of what an agency does?
Answer:
Sets precedents
Explanation:
The function that does not fall under the category of an agency while doing is that it sets precedents. Fundamentally it authenticates a usage and tradition that should be followed tomorrow.
An illustration based on that is as follows:
She set a precedent by having the chaplain command the educational parade. Here the word precedent means a prior instance either a legal decision upon which coming up instances are related.
By 2010, the ________ became the driver of the national movement toward preparing all students to graduate from high school being college and career ready.a. Common Core State Standards Initiativeb. Mindsets and Behaviorsc. Career Development Guidelinesd. None of the above
Answer:
The correct answer is letter "A": Common Core State Standards Initiative.
Explanation:
The Common Core State Standards Initiative is an educational initiative proposed in the United States to ensure all high school graduates leave school with enough knowledge so they can be prepared to start a career or face life. The initiative was originally launched in 2009 to be effective from 2010 and comprehends all the life cycle of young Americans from kindergarten to 12th grade.
The Common Core State Standards Initiative, established in 2009, is the correct answer as it became the driver of the national movement to prepare students to be college and career ready by 2010. These standards, which cover English Language Arts and Mathematics, have been widely adopted across the United States and emphasize readiness for higher education and the global workforce.
By 2010, the Common Core State Standards Initiative became the driver of the national movement toward preparing all students to graduate from high school being college and career ready. The initiative, launched in 2009 by state leaders, aims to standardize educational goals across states, particularly in English Language Arts and Mathematics. Option A
The Common Core Standards are designed to ensure that students graduating from high school are prepared to enter college or the workforce and are capable of competing globally. These standards have been adopted by a majority of states and territories in the United States, signifying a shift towards a unified set of educational standards.
Despite their focus on core subjects, the standards also emphasize the application of knowledge through higher-order thinking skills and are informed by benchmarks from other top-performing countries.
The Common Core is instrumental in framing educational goals and defining what students should know by the end of each grade level. They serve as evidence-based, clear, and consistent guidelines aligned with college and career expectations. The initiative initially faced widespread acceptance but has also encountered criticism, especially related to its assessment processes and the high stakes attached to them.
SME Company has a debt-equity ratio of .57. Return on assets is 7.9 percent, and total equity is $620,000. a. What is the equity multiplier? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) answer as a percent rounded to 2 decimal places, e.g., 32.16.) answer to 2 decimal places, e.g., 32.16.) b. What is the return on equity? (Do not round intermediate calculations and enter your c. What is the net income? (Do not round intermediate calculations and round your a. Equity multiplier b.Return on equity c. Net income 353,400.00
Answer:
(i) 1.57
(ii) 12.40%
(iii) $76,898.60
Explanation:
Debt-equity ratio = debt/equity
Hence debt= 0.57 equity
= (0.57 × 620000)
= $353,400
Total assets = debt + equity
= (353400+620000)
= $973400
1. Equity multiplier = Total assets ÷ Equity
= $973,400 ÷ 620,000
= 1.57
3. ROA = net income ÷ Total assets
net income = ($973,400 × 0.079)
= $76,898.60
2. ROE = net income ÷ Total equity
= $76,898.60 ÷ 620,000
= 12.40%(Approx).