Answer:
1. Recore the purchase of insurance in advance on March,1.
Debit Prepaid Insurance $36,000
Credit Cash $36,000
2. Record the adjusting entry on December, 31.
Debit Insurance Expense $30,000
Credits Prepaid Insurance $30,000
Explanation:
Mountaineer excavation purchases one year of flood insurance in advance on March 1, paying $36,000 ($3,000/month). The company records the insurance as the prepaid Insurance:
Debit Prepaid Insurance $36,000
Credit Cash $36,000
On December, 31, the last day of the following 10 months, the company records an adjusting entry that Credits Prepaid Insurance for $30,000 ($3,000/month times the 10 months) and Debits Insurance Expense for $30,000
Debit Insurance Expense $30,000
Credits Prepaid Insurance $30,000
1. Record of the purchase of insurance in advance on March,1 as Debit Prepaid Insurance $36,000 & Credit Cash $36,000.
2. Record the adjusting entry on December, 31 as Debit Insurance Expense $30,000 & Credits Prepaid Insurance $30,000.
1. The journal entry above records the payment of $36,000 for one year of flood insurance coverage.
It debits the Insurance Expense account (or Prepaid Insurance account) to recognize the expense and credits the Cash account to reflect the payment made.
Thus, the journal entry would look like this
Debit Credit
Prepaid Insurance $36,000
Cash $36,000
2. Mountaineer Excavation would need to recognize the portion of the prepaid insurance that has been used up.
Since the insurance was purchased on March 1 and covers a period of one year, by December 31, 10 months’ worth of insurance has been used up. At a rate of $3,000 per month, this amounts to $30,000.
Thus, the journal entry would look like this
Debit Credit
Insurance Expense $30,000
Prepaid Insurance $30,000
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Your coin collection contains fifty 1949 silver dollars. Your grandparents purchased them for their face value when they were new. These coins have appreciated at a 7.6 percent annual rate. This rate is expected to continue. How much will your collection be worth when you retire in 2020
Answer:
The correct answer is: $319.8.
Explanation:
The Annual Percentage Rate or APR is the cost per year of borrowing. By law, all financial institutions must show customers the APR of a loan or credit card, which indicates the real cost of the loan. APR is not compounded. Annual Percentage Yield (APY) is.
Thus, in the example:
Initial net worth = $50 Interest per year = ($50 x 7.6%) = $3,8 Total years = 2020-1949 = 71 Total interest = $3,8 x 71 = $269.8 Total net worth in 2020 = $50 + $269.8 = $319.8
Department B had a beginning inventory balance of 150 units. During the accounting period, the department started an additional 950 units and 975 units were completed and transfered out. Department B had an ending balance of ________ units.
Answer:
Department B had an ending balance of 125 units.
Explanation:
Ending inventory balance of Department B = beginning inventory balance + additional units - transfered out units.
Department B had a beginning inventory balance of 150 units. During the accounting period, the department started an additional 950 units and 975 units were completed and transfered out.
Ending inventory balance of Department B = 150 + 950 - 975 = 125 units
Answer :
Department B had an ending balance of 125 units.
What units are made by the department of inventory balance.?Explanation :
As per the question, the Ending inventory balance of the Department of B equals to the beginning of inventory balance plus the additional units minus the transferred out units.
Department B has a beginning inventory balance of about 150 units. At period, the department started with 950 units, and the 975 units were completed. Hence the ending inventory balance of
Department B = 150 + 950 - 975 = 125 units.
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Direct materials for the month amounted to $111,500. Direct labor for the month was $206,500. During the month, 12,500 units were produced. Required: a. No changes are expected in these cost relations next month. The firm has budgeted production of 16,250 units. Provide an estimate for total production cost for next month. b. Determine the cost per unit of production for the previous month and the next month.
Answer:
1. Total Production Cost = $413400
2. Cost per unit of production for the previous month = $25.44
Cost per unit of production for the next month = $25.44
Explanation:
GIVEN:
Direct Material for 12,500 unit = $111,500
Direct Labor for 12,500 unit = $206,500
Calculate:
Direct Material for 16,250 unit = $111,500*16,250/12,500 = $144,950
Direct Labor for 16,250 unit = $206,500*16,250/12,500 = $268,450
Total Production Cost = Direct labor + Direct materials + Factory OverheadsTotal Production Cost = $144,950 + $268,450
Total Production Cost = $413,400
Cost per unit of production = Total Production Cost / Total unit
For Previous month = ($111,500 + $206,500) / 12,500
= $318000/ 12,500
= $25.44
For Next month = ($413400) / 16,250
= $25.44
Problem 6-13 Pricing Consol Bonds (LO2) Perpetual Life Corp. has issued consol bonds with coupon payments of $60. (Consols pay interest forever and never mature. They are perpetuities.). If the required rate of return on these bonds at the time they were issued was 6%, at what price were they sold to the public?
Answer:
The bonds were sold at $1,000 to yield as the market rate at the time.
Explanation:
To determinate the value of the bonds we divide the annual cash received on the coupon payment against the market rate at the time:
The formula for the value of a perpetuity is as follows:
[tex]\frac{C}{r} =Value[/tex]
60 / 0.06 = 1,000
Morgan Jennings, a geography professor, invests $95,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next eight years. He will take the proceeds and provide himself with a 20-year annuity. Assuming a 14 percent interest rate, how much will this annuity be? (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
The annuity will be $40916.60
Explanation:
Future value of land = Present value of land*(1 + rate)^n
Annuity = Future value of land*rate/(1 - 1/(1 + rate)^t)
= $95,000*1.14^8*14%/(1 - 1/1.14^20)
= $40916.55871562
Therefore, The annuity will be $40916.60
After investing $95,000 in land that increases in value by 14% annually for 8 years, the value of the land would be about $248,003.58. This is then turned into a 20-year annuity, generating an annual payment of approximately $3,546.67.
Explanation:Morgan Jennings, a geography professor, first invests $95,000 in a parcel of land that is expected to increase in value by 14 percent per year for the next eight years. We use compound interest formula to calculate the future value of this investment: A = P*(1 + r/n)^(nt), where P is principal amount ($95,000), r is annual interest rate (14%, or 0.14), t is time the money is invested for (8 years), and n is number of times interest applied per time period (assumed to be 1 here).
After eight years, the value of the land would be $95,000 * (1 + 0.14)^8 = $248,003.58 approximately.
Next, Jennings will turn this into a 20-year annuity. The annuity payment can be found using the annuity formula: PVA = PMT * [(1 - (1 + r)^-t) / r], where PVA is present value of annuity ($248,003.58), PMT is annuity payment, r is annual interest rate (14%, or 0.14), and t is number of periods (20 years).
After rearranging, PMT = PVA * r / [(1 - (1 + r)^-t)], we get PMT = $248,003.58 * 0.14 / [(1 - (1 + 0.14)^-20)] = $3,546.67 approximately.
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ne day, Barry the Barber, Inc., collects $400 for haircuts. Over this day, his equipment depreciates in value by $50. Of the remaining $350, Barry sends $30 to the government in sales taxes, takes home $220 in wages, and retains $100 in his business to add new equipment in the future. From the $220 that Barry takes home, he pays $70 in income taxes. Based on his information, compute Barry's contribution to the following measures of income: gross domestic product, net national product, national income, personal income, disposable personal income.
Answer:
a) $400 b)$350 c) $350 d)$220 e) $150
Explanation:
The question is divided into 5 parts:
Part a) Determine the Gross Domestic Product Contribution by Barry's company
GDP represents a total of goods and services consumed within a nation's borders within a certain period of time. Barber, Inc contribution is the value of haircut service rendered to the citizens which is $400
Part b) Net National Product This represents Barry's total income when the depreciation is subtracted from the income.
Income is $400 and equipment depreciation is $50
Net national Product = $400 - $50 = $350
Part c) Barber Inc's contribution to national income: The national income represents the total income earned by the resident of a country and it is usually calculated as the same value as the Net National Product. The contribution to national income = $350
Part d) Personal Income: this is seen as Barry the Barber, inc's income. The figure usually excludes indirect business taxes as well as retained earnings. The formula is= national Income - Retained earnings - Sales tax
= $350- 100-30 = $220
Part e) Disposable Personal Income: This represents the income left to a business after it has paid government dues such as personal taxes.
It is calculated as Personal Income- personal tax
=220-70 = $150
9) An automobile company decides to improve the quality of all its products and bring more variety into its product line. The company has decided to adopt ________. A) focused cost-leadership B) industry-wide differentiation C) industry-wide cost leadership D) focused differentiation
Answer:
The correct answer is letter "B": industry-wide differentiation.
Explanation:
Industry-wide differentiation is a technique used by companies when they diversify their line of goods to reach unexplored sectors of the market and increase their chances of collecting higher revenue. Normally, this practice is carried out by large entities with enough funds for investment and covering risks.
g Salmont Corporation uses the FIFO method in its process costing system. The company reported 28,000 equivalent units of production for materials last month. The company's beginning work in process inventory consisted of 7,500 units, 40% complete with respect to materials. The ending work in process inventory consisted of 5,500 units, 70% complete with respect to materials. The number of units started during the month was:
Answer:
25,150 units
Explanation:
The question is to determine the number of production units that were started during the month.
Note that the company uses the First In First Out method for Process costing
Description Units in Process completion (%) Equivalent
completed (units)
The Equivalent Units 28,000 100 28,000
Subtract:
Opening Work-in- progress 7,500 60 4,500
Closing Work in Progress 5,500 70 3,850
Equivalent Units Started and Completed 19,650
Step 2: Equivalent Units Started
= Eqivalent Units started and completed + Total Ending Units
= 19,650 + 5,500 = 25,150 units
You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and one of your jobs is to make sure that these motors, received from a small supplier, meet your RPM (revolutions per minute) specifications. The supplier sends you an mean chart (x-bar chart) with each batch of motors to show you that the average RPMs for each batch meets your specifications. Notwithstanding this information from the supplier, you are seeing some unexpected inconsistent performance among the motors within each batch. What should be your first step to help you and the supplier get to the bottom of this issue?
You just got hired as a quality intern for a small startup making 3D printers. Each printer uses a number of small motors and one of your jobs is to make sure that these motors, received from a small supplier, meet your RPM (revolutions per minute) specifications. The supplier sends you an mean chart (x-bar chart) with each batch of motors to show you that the average RPMs for each batch meets your specifications. Notwithstanding this information from the supplier, you are seeing some unexpected inconsistent performance among the motors within each batch. What should be your first step to help you and the supplier get to the bottom of this issue?
A. Make sure the supplier's manufacturing process is capable of meeting your design specifications
B. Instruct the supplier to send you a range chart with each batch and to not send you any more mean charts
C. In addition to a mean chart, have the supplier create and send you a range chart with each batch
D. Have the supplier create and send you a p-chart with each batch so that you can understand what proportion of all motors are bad
Answer:
Option C is correct.
Explanation:
Range chart is also known as a variable control chart which the range of the subgroup is used to establish instantaneous variation and used to evaluate how stable the variability is.
Littlefield Industries purchased a bond on September 1 of the current year for $200,000 and classified the investment as trading debt. The market value of the trading debt investment at year-end is $196,000. The adjustment is ______.
Answer:
The adjustment is:
Debit Unrealized Loss Account with $4,000
Credit Trading Debt Fair Value Adjustment Account with $4,000.
Explanation:
Held for trading assets are form of investment that an entity holds for the purpose of selling them within a short term period. The changes in these investments are recognized in the statement of comprehensive income for the period and are taken to fair value adjustment account.
The accounting entries to pass for each event are listed below:
Increase in market value: Debit the asset fair value adjustment account
Credit the unrealized gain account.
Decrease in market value: Credit the asset fair value adjustment account
: Debit the unrealized loss account.
In the case of Littlefield industries, there was a loss of $4,000 ( $200,000 - $196,000). So the fair value adjustment account will be credited with $4,000 to bring the investment value down to $196,000 and a corresponding debit entry will be recognized as unrealized loss and transfer to income statement for the year.
Phil, a quality assurance expert, recently left his position in the automotive industry and now works in construction equipment manufacturing. He needs to become familiar with who his company's competitors are, their competitive advantages, their locations, their product lines, and anything else he can learn about them. Phil is seeking ____________.
A. core competency
B. trade secrets
C. competitive intelligence
D. a means-end chain
E. corporate espionage
Answer:
C. competitive intelligence
Explanation:
Phil is seeking competitive intelligence because he is trying to find important information about the company's competitors.
The main reason why is tasked with finding information about competitor's locations, advantages and product lines is because his company wants to use that information for their own advantage, in order to gain a competitive edge over the other companies, or close the gap in case it is lagging behind.
Answer:
The correct answer is letter "C": competitive intelligence.
Explanation:
Competitive intelligence refers to the process of gathering external information in an attempt to improve a company's competitive advantage. That information is mainly related to the activity of competitors and the surrounding environment of the business which can also help to identify opportunities and threats.
A rhode island company produces communion wafers for churches around the country and the world. the little company produces a lot of wafers, several hundred million per year. when in production, the process produces wafers at the rate fo 87 per second. during this production process, the wafers must spend 13 minutes passing through a cooling tube. how many wafers does the cooling tube hold on average when in production? ( in other words, don't count the time they are not in production).
Answer:
67,860 WAFERS
Explanation:
The question is to determine the number of wafers the cooling tube holds on average when in production?
First, what is the rate of wafers that are produced per second during the production process = 87 wafers
Secondly, we determine the entire time it takes a batch of wafers (in seconds) to completely pass through the cooling tube as follows
=Time to pass through x 60 seconds (to convert the minutes to seconds)
= 13 Minutes x 60 seconds = 780 Seconds
Finally, we determine the number of wafers the cooling tube can hold as follows:
The number of seconds it takes to pass through the cooling tube x the number of wafers produced per second
= 780 seconds x 87 wafers
= 67,860 Wafers.
The cooling tube therefore holds on average 67,860 WAFERS when it is in production.
To find out how many wafers the cooling tube holds on average when in production, multiply the rate of production per second (87 wafers) by the total seconds the wafers spend in the tube (780 seconds), which equals 67,860 wafers.
Explanation:The first step in figuring out how many wafers are in the cooling tube on average when in production is to find out how many seconds are in the amount of time that the wafers are in the tube. There are 13 minutes in the cooling tube, which we can convert to seconds by multiplying by 60 because there are 60 seconds in a minute. Thus, 13 * 60 = 780 seconds.
The company produces wafers at the rate of 87 per second. So, to find out the number of wafers in the cooling tube on average while in production, multiply this rate by the number of seconds the wafers spend in the tube. Therefore, 87 * 780 = 67,860. So on average, the cooling tube holds 67,860 wafers when in production.
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To issue new guidelines and opinions regarding employment practices that result from newly passed laws, t the Equal Employment Opportunity Commission (EEOC) frequently uses the _____.
Answer:
The correct answer is "Federal Register"
Explanation:
In the Federal Register we can find the rules of government agencies and public notices.
This is an approach that the government uses so that people have knowledge about new laws and regulations, requirements and guidance of the government. All proposed and approved government regulations are published in the Federal Register. For this reason, the Equal Employment Opportunity Commission is based on the Federal Register.
Guggenheim offers a bond with annual payments and a coupon rate of 5 percent. The yield to maturity is 5.62 percent and the maturity date is 9 years away. What is the market price of a $1,000 face value bond?
Answer:
$957.12
Explanation:
In this question we have used the formula of the present value which is shown in the attachment
The NPER is a time period and the PMT is the monthy payments
Provided that,
Future value = $1,000
Rate of interest = 5.62%
NPER = 9 years
PMT = $1,000 × 5% = $50
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the answer is $957.12
A general partner in a partnership is a partner who __________. Is personally liable for partnership debts only up to the amount of money or other property that the partner contributed to the partnership. Is personally liable for the partnership's nonrecourse loans. Is personally liable for partnership debts. Adheres to generally accepted accounting principals.
Answer:
The correct answer is letter "C": Is personally liable for partnership debts.
Explanation:
A Partnership is an entity that operates a company with two or more owners. They share the profits in proportion to their relationship benefit in percentage terms. There are two types of partnerships: general partnerships (unlimited liability) and limited partnership (liability according to the percentage contributed to the partnership).
Company C expects to have sales of $12 million. Costs other than depreciation are expected to be 75% of sales, and depreciation is expected to be $1.5 million. All sales revenues will be collected in cash, and costs other than depreciation must be paid for during the year. The company's federal plus state tax rate is 40% and it has no debt. What is Company C's expected cash flow
Answer:
Company C's expected cash flow is $2,400,000
Explanation:
Costs other than depreciation of Company C = 75% x $12,000,000 = $9,000,000
Income before tax = Sales - Costs other than depreciation - Depreciation expense = $12,000,000 - $9,000,000 - $1,500,000 = $1,500,000
The company's federal plus state tax rate is 40%,
Tax = $1,500,000 x 40% = $600,000
Company C's expected cash flow = Sales - Costs other than depreciation - Tax = $12,000,000 - $9,000,000 - $600,000 = $2,400,000
Note: Depreciation is a non-cash accounting expense, so it doesn't involve cash flow
Which of the following circumstances must be present for departmental overhead allocation to be favored over a traditional overhead allocation method? A. Each department incurs different types and amounts of manufacturing overhead. B. Each product, or job, uses the department to a different extent. C. Both A & B D. None of the above. Traditional overhead allocation is more accurate than departmental overhead allocation.
Answer:
B. Each product, or job, uses the department to a different extent.
Explanation:
Departmental overhead rates uses a standard charge that is based on produced units attributed to a department.
Costs are applied with high precision.
When this model is used, the standard rate is multiplied by the number of units produced in the department, so there is no over allocation of resources.
For example if we consider the hours a machine operates. With a standard rate of $10 per hour, machine operation of 6 hours will give $10* 6 hours= $60
Suppose the American Medical Association announces that men who shave their heads are less likely to die of heart failure. We could expect the current demand for Question 34 options: a) hair gel to increase. b) razors to increase. c) combs to increase.
Answer:
b) razors to increase.
Explanation:
The announcement by the American Medical Association will cause an increase in demand for razors since the perception will be men that shave their hair are less likely to die of heart attack.
There will be a shift in demand to the right, resulting in increase in demand at all prices.
A shift in demand occurs when other factors except for price causes a change in demand of a good.
The shift in demand is illustrated in the attached diagram.
If an organization needs to plan for resumption and cannot justify the expense of an exclusive-use strategy, it can choose a shared-use option.
A(n) ____________________ operates like an exclusive-use site but it is leased in conjunction with a business partner or sister organization.
A time-share operates like an exclusive-use site but it is leased in conjunction with a business partner or sister organization.
Explanation:
Time-share is one of the shared-use resumption strategy. It is the leased site shared with organizations to provide assistance in case of disasters.More than one organization may use the site simultaneously.what is the purpose of a debt service fund? Does a debt service fund require budgeting? why or why not?
Answer:
The purpose of a debt service fund is to pay back long term debt issued to finance a specific government project alongside with the principal and interest accrued to it.
Part B: Yes
Explanation:
A debt service fund require budgeting because with budgeting, payments of debts are easily managed and it also ensures fund availability as at the moment it is needed.
Franco breeds a wide variety of fish. For the last nine years he has been going to Fins-to-You, a local pet store that specializes in tropical fish and aquarium supplies, for all of his needs. He buys everything from fish food to aquarium heaters to replacement fish from this store. Which of the following terms best describes the relationship Franco has with Fins-to-You?
functional relationship
Functional relationship best describes the relationship Franco has with Fins-to-You.
Explanation:
A functional relationship connects roles or administrative structures at varying management categories based on the specialization aspect of a role for which equal responsibility is exchanged.
The relationship between time and distance is a true example of a functional relationship. We are all mindful that travel distances take time and it takes some time to do so when we drive some distance (or stand still). A practical interaction is the relationship between distance and time.
If a firm's expected growth rate increased then its required rate of return would a. increase. b. possibly increase, possibly decrease, or possibly remain constant. c. decrease. d. fluctuate more than before. e. fluctuate less than before.
Answer:
The correct answer is option (B).
Explanation:
According to the scenario, the rate of return would possibly increase, possibly decrease, or possibly remain constant because of the following reasons :
In an organization, the rate of return depends on many terms i.e stock rate, dividends, etc. The rate of return increases when dividends do not increase with the growth rate. The rate of return decreases when dividends increase with the growth rate.
Sara Beth made annual deposits of $5,000 in an account that paid 4 percent compounded annually. How much money should be in the account immediately after her tenth deposit?
Answer:
$60,030.54
Explanation:
In this question, we use the FV formula that is presented in the spreadsheet.
The NPER shows the time period.
Given that,
Present value = $0
PMT = Monthly payments = $5,000
NPER = 10
Rate of interest = 4%
The formula is presented below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the future value is $60,030.54
Juan Garza invested $112,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an approximate answer but calculate your final answer using the formula and financial calculator methods. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answer:
$247,300
Explanation:
Given that
Invested amount = Present value = $11,2000
Time = 10 years × 4 quarter = 40
The rate = 8% ÷ 4 = 2%
So, we have to applying the future value formula which is presented below:
Future value = Present value × (1 + interest rate)^ time period
= $112,000 × (1 + 0.02)^40
= $112,000 × 1.02^40
= $112,000 ×2.2080396636
= $247,300
To calculate the amount accumulated by Juan Garza, we can use the formula for compound interest and the financial calculator method. The final amount accumulated by Juan Garza is approximately $251,829.05.
Explanation:To calculate the amount accumulated by Juan Garza, we can use the formula for compound interest: A = P(1 + r/n)^(nt), where A is the final amount, P is the principal (initial investment), r is the annual interest rate (as a decimal), n is the number of times the interest is compounded per year, and t is the number of years. In this case, P = $112,000, r = 0.08 (8% as a decimal), n = 4 (quarterly compounding), and t = 10 years.
Using the formula: A = 112000(1 + 0.08/4)^(4*10), we can calculate the final amount accumulated by Juan Garza.
Financial Calculator Method:
Using a financial calculator, we can input the values P = $112,000, r = 8%, n = 4, and t = 10, and calculate the accumulated amount directly.
Approximate Answer using Appendix A:
If you're looking for an approximate answer, you can use the values from Appendix A. From Appendix A, you can find the factor for 8% compounded quarterly over 10 years, which is approximately 2.208.
Final Calculation:
Using the formula: A = 112000(1 + 0.08/4)^(4*10), we find that the final accumulated amount by Juan Garza is approximately $251,829.05.
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A regional car dealership began running mass marketing TV advertisements emphasizing its high-end luxury vehicles. The region this car dealership services had been hit hard with a recession. The main manufacturer had beer purchased by a foreign company and moved overseas, and now unemployment is rampant. What did this dealership miss about its target market?
a. the advertisements wasted money and time because they were not targeted properly
b. segmenting the market appropriately
c. identifying the need its business addressed
Answer:
a. the advertisements wasted money and time because they were not targeted properly
Explanation:
The advertisement is not well targeted, with the increased unemployment in this region and the fact that the major source of economic wealth ( the beer manufacturer) has been bought and relocated, means the economy is not well profiled for the luxury cars that are advertised.
The company should first of all do it's research to gauge how well profiled the residents of the economy is to their products.
Ideally the target if the advertisement should be a thriving economy where there is excess cash to purchase luxury goods.
The car dealership missed segmenting the market appropriately and identifying the need its business addressed. By running mass marketing TV advertisements without targeting the specific needs and preferences of the audience in the region hit hard by the recession, the dealership wasted money and time.
Explanation:The car dealership missed segmenting the market appropriately and identifying the need its business addressed. By running mass marketing TV advertisements without targeting the specific needs and preferences of the audience in the region hit hard by the recession, the dealership wasted money and time.
Instead of focusing on high-end luxury vehicles, the dealership could have focused on offering affordable options, addressing the need for reliable transportation in a time of rampant unemployment. By understanding the economic circumstances of the target market and adapting their marketing strategy accordingly, the dealership could have been more effective in reaching potential customers.
Segmenting the market would have involved identifying specific groups within the region, such as budget-conscious consumers or individuals looking for fuel-efficient cars. Tailoring advertisements and promotions to these segments would have increased the chances of attracting customers who were more likely to consider purchasing a car despite the recession.
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What refers to analysis of environmental impacts of products from the design stage through end-of-life?
Answer: Life cycle assessment
Explanation: Life cycle assessment is the systematic analysis of environmental impacts of products from design stage through end-of-life, raw materials and energy inputs to its disposal with the ultimate goal to reduce environmental impact. It is concerned with every stage of the life-cycle (from raw material extraction, processing of raw materials, production, distribution, usage and disposal) of a product, process, or service.
Which of the following is an example of haptic perception? a. A consumer smelling a new brand of perfume b. A consumer touching a new brand of bath towels c. A consumer watching a new video game in the market d. A consumer enjoying the ambiance at a store e. A consumer listening to a new audio clip in the market
Answer:
Correct Answer is "B"
b. A consumer touching a new brand of bath towels
Explanation:
To understand the answer, we should know about the meaning of Haptic Perception
It means ability to hold or grasp something.
Haptic perception refers to our sense of touch. In the given context, the example related to haptic perception would be a consumer touching a new brand of bath towels.
Explanation:In the context of the given question, haptic perception refers to the ability to interpret the world around us through the sense of touch. Hence, an example of haptic perception would be a consumer touching a new brand of bath towels. This involves feeling the texture of the towel, which is a key aspect of haptic perception. Other senses such as smelling, watching, enjoying ambiance, or listening are not related to haptic perception because they do not involve the sense of touch.
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In a competitive market, all of the choices along the production possibility frontier display (-----) efficiency, while the specific choice on the frontier that society picks in the one with (-----) efficiency.
a. Productive; Allocative
b. Allocative; Productive
c. Allocative; Allocative
d. Productive; Productive
Answer:
a. Productive; Allocative
Explanation:
At full production capacity, all of the choices (no matter the trade-off) are productive by all means. However, the choice of a particular economy regarding the pinpoint on the production possibility frontier is representing allocative efficiency. One of the crucial tasks of economics is to efficiently allocate the resources in order to achieve full production capacity.
Nadal Corporation manufactures custom molds for use in the extrusion industry. The company allocates manufacturing overhead based on machine hours. Selected data for costs incurred for Job 532 are as follows: Direct materials used $ 5 comma 100 Direct labor cost $ 36 comma 900 Predetermined manufacturing overhead rate based on machine hours $ 18 Direct labor hours worked 4 comma 000 Machine hours used 230 What is the manufacturing cost of Job 532?
Answer:
Manufacturing cost of job 532 = $46140
Explanation:
Given Data:
Direct Material Cost= $5,100
Direct Labor Cost=$36,900
Predetermined manufacturing overhead rate based on machine hours=$18
Direct labor hours worked =4,000
Machine hours used= 230
Required:
Manufacturing cost of Job 532=?
Solution:
Manufacturing cost=Direct Material Cost+Direct Labor Cost+(Manufacturing overhead rate * Machine hours used)
Manufacturing cost= $5,100+$36,900+($18*230)
Manufacturing cost= $46140
The total manufacturing cost of Job 532 is $46,140, calculated by adding up the costs of direct materials ($5,100), direct labor ($36,900), and manufacturing overhead ($4,140).
Explanation:The total manufacturing cost for Job 532 includes the costs of direct materials, direct labor and overhead. The direct materials cost is $5,100 and direct labor cost comes to $36,900. The predetermined overhead rate is $18 per machine hour, therefore the overhead cost is the predetermined rate times the number of machine hours used, which equals to $18 x 230 = $4,140. Once you add up these three costs, you'll have the total manufacturing cost of Job 532, which is $5,100 (Direct material) + $36,900 (Direct labor) + $4,140 (Overhead) = $46,140.
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A building owner is evaluating the following alternatives for leasing space in an office building for the next five years:
(a) Net lease with steps. Rent will be $15 per square foot the first year and will increase by $1.50 per square foot each year until the end of the lease. All operating expenses will be paid by the tenant.
(b) Net lease with CPI adjustments. The rent will be $16 psf the first year. After the first year, the rent will be increased by the amount of any increase in the CPI. The CPI is expected to increase by 3 percent per year.
(c) Gross lease. Rent will be $30 psf each year with the lessor responsible for payment of all operating expenses. Expenses are estimated to be $9 psf during the first year and increase by $1 psf per year thereafter. Gross lease with expense stop and CPI adjustment. Rent will be $22 the first year and increase by the full amount of any change in the CPI after the first year with an expense stop at $9 psf. The CPI and operating expenses are assumed to change by the same amount as outlined above.
How would you rank the alternatives in terms of risk to the property owner?
Answer:
Explanation:
The lease rent that depends upon CPI rate and operating expenses has more risk than normal increase in value rent alternatives. Reason being that CPI can be increased or decreased in future and this will affect the builder's cashflow.
Likewise, operating expense is also an increase or decrease because the builder's cashflow can increase or decrease .
The risk level of all the four alternatives is shown below
Net lease with steps- Less risky
Net lease with CPI - Highly risky
Gross lease - Moderately risky
Gross lease with CPI - Highly risky
Leasing alternatives are ranked from lowest to highest risk based on cost predictability and expense responsibility. Net leases present less risk to property owners, while gross leases with operating expense responsibilities are riskier. Leases with CPI adjustments offer moderate risk due to potential variability in inflation.
Explanation:The ranking of lease alternatives in terms of risk to the property owner depends primarily on the volatility of costs and the certainty of revenue over time. For instance:
Net lease with steps: This lease has increasing rent but transfers all operating expenses to the tenant, representing a lower risk since the income increases over time, and there's no risk associated with operating costs.
Net lease with CPI adjustments: This lease option also transfers all operating expenses to the tenant and adjusts rent based on CPI, which can be more uncertain depending on inflation rates, resulting in moderate risk.
Gross lease: The owner is responsible for operating expenses, which increases the risk if these expenses rise faster than the fixed rent received.
Gross lease with expense stop and CPI adjustment: This mitigates risk by having an expense stop, but variability in the CPI still introduces some risk.
In these scenarios, a step lease tends to offer more predictability and thus lower financial risk. The gross lease poses the highest risk since the owner must absorb any increases in operating expenses beyond the first year. Lastly, leases tied to the CPI can vary in risk depending on economic conditions.
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