Answer: Democratic
Explanation: Democratic leadership style is the style of leadership which
gives team members the opportunity to participate in the decision making processes. This type of leader ensures that the people are allowed to feel among and it enhances their ownership culture.
THE STEPS TAKEN BY O. SAWYER IS TYPICAL OF A DEMOCRATIC LEADERSHIP WHICH INVOLVED THE TEAM MEMBERS THE OPPORTUNITY TO SUBMIT THEIR OWN SUGGESTIONS FROM WHERE THE ONE OF THE SOLUTIONS WAS GOTTEN.
Toll on a bridge was increased from $.50 to a dollar and the number of vehicles crossing the bridge decreased from 520,000 to 435,000. Calculate demand elasticity for bridge use.
Answer:
-0.1635
Explanation:
Given that,
Initial price = $0.50
New price = $1
Initial quantity = 520,000
New quantity = 435,000
Percentage change in quantity demanded:
= (Change in quantity demanded ÷ Initial quantity) × 100
= [(435,000 - 520,000) ÷ 520,000] × 100
= (-85,000 ÷ 520,000) × 100
= -0.1635 × 100
= -16.35%
Percentage change in price:
= (Change in price ÷ Initial price) × 100
= [(1 - 0.50) ÷ 0.50] × 100
= (0.50 ÷ 0.50) × 100
= 1 × 100
= 100%
Elasticity of demand:
= Percentage change in quantity demanded ÷ Percentage change in price
= -16.35 ÷ 100
= -0.1635
To maximize revenue from tolls, the city should charge a toll in the inelastic portion of the demand curve.
Explanation:To maximize revenue from tolls, the city should charge a toll in the inelastic portion of the demand curve. The elasticity of demand measures how responsive the quantity demanded is to changes in price. In the inelastic portion, the demand for bridge use is relatively insensitive to price changes, meaning that even if the toll increases, the number of vehicles crossing the bridge will not decrease significantly. By charging a toll in this portion, the city can increase the price without losing too many customers, resulting in higher revenue.
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Variable Cost Ratio, Contribution Margin Ratio
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. Unit variable cost is $45 (includes direct materials, direct labor, variable factory overhead, and variable selling expense). Fixed factory overhead is $20,000 and fixed selling and administrative expense is $29,500.
Required:
1. Calculate the variable cost ratio.
%
2. Calculate the contribution margin ratio.
%
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
Head-First Company plans to sell 5,000 bicycle helmets at $75 each in the coming year. The unit variable cost is $45. Fixed factory overhead is $20,000 and fixed selling and administrative expense is $29,500.
To calculate the variable cost ratio, we need to use the following formula:
Variable cost ratio= unitary variable cost / selling price
Variable cost ratio= 45/75= 0.6
The contribution margin rate is the difference between the contribution margin and the selling price:
CM ratio= Contribution margin / selling price
CM ratio= (75 - 45)/ 75= 0.4
Which of the following is correct for Qualified Tuition Programs? a. Contributions are deductible and qualified educational expense distributions are tax-free. b. Contributions are deductible and qualified educational expense distributions are taxable. c. Contributions are not deductible and qualified educational expense distributions are taxable. d. Contributions are not deductible and qualified educational expense distributions are tax-free.
Answer:C
Explanation:
Contributions are not deductible and qualified educational expense distributions are taxable
The right answer is d. Contributions to Qualified Tuition Programs are not tax-deductible but the earnings and distributions for educational expenses are tax-free.
Explanation:The correct option for Qualified Tuition Programs is d. Contributions are not deductible and qualified educational expense distributions are tax-free. A Qualified Tuition Program, also known as a 529 plan, is a tax-advantaged savings plan designed to help pay for education. Contributions to these plans are made with after-tax dollars but any income the account earns is tax-free as long as it's used for qualified education expenses. These expenses can include tuition fees, books, and room and board for college students. So, while the contributions themselves are not tax-deductible, the earnings and distributions for educational expenses are tax-free.
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A company sells goods for $150,000 that cost $54,000 to manufacture. Which statement is true? a. The company will recognize sales on the balance sheet of $150,000. b. The company will recognize $96,000 gross profit on the balance sheet. c. The company will decrease finished goods by $54,000. d. The company will increase finished goods by $54,000.
Answer:
The correct answer is C
Explanation:
Finished goods are those goods which have been finished or completed through the process of the manufacturing or purchased or bought in the completed form, but not sold yet to the customers.
The finished goods cost or expense is considered to be a asset which is short term in nature, which is expected to be sold in less than a year or period.
So, when the company sold the goods that worth $54,000 to the manufacture for $150,000, this will lead to decrease in the finished goods of the company which worth $54,000.
A business school would like to know that whether the average number of years of work experience of MBA applicants is less than 3 years. Based on last year's applicants, it was found that among a sample of 47, the average number of years of work experience is 2.57 with a standard deviation of 3.67. Apply t-test to analyze the sample and draw a conclusion about the years of work experience of MBA applicants.g
Answer:
The test statistic t of the sample is -0.804.
There is sufficient evidence to ascertain that the average number of years of work experience of MBA applicants is less than 3 years.
Explanation:
Null hypothesis: The average number of years of work experience of MBA applicants is 3 years.
Alternate hypothesis: The average number of yet of work experience of MBA applicants is less than 3 years.
Test statistic (t) = (sample mean - population mean) ÷ sd/√n
sample mean = 2.57
population mean = 3
sd = 3.67
n = 47
t = (2.57 - 3) ÷ 3.67/√47 = -0.43 ÷ 0.535 = -0.804
Assuming a 5% significance level
degree of freedom = n - 1 = 47 - 1 = 46
The critical value corresponding to 46 degrees of freedom and 5% significance level is 2.013.
Conclusion:
Reject the null hypothesis because the test statistic -0.804 is less than the critical value 2.013.
The years of work experience of MBA applicants is less than 3.
Sarah owns a vacation cabin in the Tennessee mountains. Without considering the cabin, she has gross income of $65,000. During the year, she rents the cabin for two weeks for $2,500 and uses it herself for four weeks. The total expenses for the year are $10,000 mortgage interest; $1,500 property tax; $2,000 utilities, insurance, and maintenance; and $3,200 depreciation.
If an amount is zero, enter "0".
a. What effect does the rental of the vacation cabin have on Sarah's AGI?
Sarah reports rental income of ? and rental expenses of ? for AGI.
b. What expenses can Sarah deduct, and how are they classified (i.e., for or from AGI)?
Note: Assume that she itemizes her deductions.
a. Utilities $
b. Insurance $
c. Property Taxes $
d. Mortgage interest $
e. Maintenance expenses $
Answer and Explanation:
The vacation home is classified as primarily personal because it was rented for fewer than 15 days during the year. As Sarah can exclude the $2,500 of rent income, the vacation home
transactions have no effect on her AGI.
b. The only expenses that Sarah can deduct are those she normally would deduct as itemized
deductions. This includes the following:
Mortgage interest $10,000 Property tax
1,500
Total
$11,500
Sarah cannot deduct any of the utilities, insurance, and maintenance expenses or the depreciation. None of the expenses are deductible for AGI.
On July 15, 2021, the Nixon Car Company purchased 2,200 tires from the Harwell Company for $45 each. The terms of the sale were 2/10, n/30. Nixon uses a perpetual inventory system and the gross method of accounting for purchase discounts.
Final answer:
The question asks about the accounting treatment for a purchase with a payment term that includes a discount using the gross method in a perpetual inventory system. The purchase is initially recorded at the full amount and later adjusted if the discount is taken within the prescribed discount period.
Explanation:
The question involves the application of purchases with a discount term under a perpetual inventory system using the gross method of accounting. On July 15, 2021, the Nixon Car Company purchased 2,200 tires at $45 each from the Harwell Company, with payment terms of 2/10, n/30. These terms imply that Nixon Car Company has the option to take a 2% discount on the total purchase price if payment is made within 10 days; otherwise, the net amount is due in 30 days.
Under the gross method, we initially record the purchase at the total cost without accounting for the potential discount. If the discount is taken, the accounting records will then be adjusted to reflect the discount on the date of payment within the discount period. If payment is not made within the discount period, no adjustments for purchases discounts will occur.
In this case, assuming Nixon pays within the discount period, the journal entry on the date of purchase (July 15, 2021) would be to debit Inventory for $99,000 (2,200 tires × $45 each) and to credit Accounts Payable for $99,000. If the payment is made within 10 days, then Nixon will debit Accounts Payable for $99,000 and credit Cash for $97,020 (which represents a 2% discount on $99,000) and an Inventory (Purchase Discount) for $1,980, reflecting the discount taken.
Mia received a credit card offer in the mail. The credit card has an annual percentage rate of 26%. What is the approximate monthly interest rate that will apply to any unpaid balances on this credit card?
Answer:
Monthly interest rate = 2.16666667%
Explanation:
Given:
Annual percentage rate = 26% = 26 / 100 = 0.26
Total number of months in a year = 12 month
Monthly interest rate = ?
Computation of monthly interest rate :
Monthly interest rate = Annual percentage rate / Total number of months in a year
Monthly interest rate = 0.26 / 12
Monthly interest rate = 0.0216666667
Monthly interest rate = 2.16666667%
On January 1, 2017, Christel Madan Corporation had inventory of $56,000. At December 31, 2017, Christel Madan had the following account balances.
Freight-in $ 4,100
Purchases 505,500
Purchase discounts 7,250
Purchase returns and allowances 3,500
Sales revenue 810,000
Sales discounts 5,100
Sales returns and allowances 12,000
At December 31, 2017, Christel Madan determines that its ending inventory is $66,000.
Compute Christel Madan’s 2017 gross profit.
Gross profit?
Compute Christel Madan’s 2017 operating expenses if net income is $142,000 and there are no nonoperating activities.
Operating expenses?
Answer:
Gross Profit = $304,050
Operating expenses = $162,050
Explanation:
The computation of gross profit and operating expenses is shown below:-
Net purchases = Purchase - Purchase discounts - Purchase returns and allowances
= $505,500 - $7,250 - $3,500
= $494,750
Cost of goods sold = Net purchases + Freight-in + Inventory + Ending inventory
= $494,750 + $4,100 + $56,000 - $66,000
= $488,850
Gross profit = Net sales - Cost of goods sold
= ($810,000 - $5,100 - $12,000) - $488,850
= $304,050
Operating expenses = Gross profit - Net income
= $304,050 - $142,000
= $162,050
If you bought a share of common stock, you would probably expect to receive dividends plus an eventual capital gain. Would the distribution between the dividend yield and the capital gains yield be influenced by the firm’s decision to pay more dividends rather than to retain and reinvest more of its earnings? Explain.
Answer and Explanation:
The answer is attached below
In order to be considered unemployed, a person must be: Instructions: You may select more than one answer. Click the box with a check mark for correct answers and click to empty the box for the wrong answers. not working. unanswered actively seeking work. unanswered willing and able to work. unanswered under 16 or over 65.
Answer:
The correct answer are letters "A", "B", and "C": not working; actively seeking work; willing and able to work.
Explanation:
Unemployment is the state in which individuals do not have a job but are actively seeking one. These people are willing and available to start working yet they have not been able to get a job according to their skills. The unemployment rate of the U.S. for 2019 was around 3.6% according to the Bureau of Labor Statistics (BLS).
Answer:Correct Not working, under 16 or over 65
incorrect actively seeking work, willing and able to work
Explanation:
On January 1, 20X9, Pitcher Corporation purchased 100 percent of Softball's stock. All tangible assets had a remaining economic life of 10 years at January 1, 20X9. Both companies use the FIFO inventory method. Softball reported net income of $17,000 in 20X9 and paid dividends of $4,700. Pitcher uses the equity method in accounting for its investment in Softball.
The equity method used by Pitcher Corporation means its investment in Softball is initially recorded at cost and adjusted annually to account for net income and dividends. In 20X9, the net income of $17,000 increased Pitcher's investment value, while the dividends of $4,700 decreased this value.
Explanation:Under the equity method of accounting, when a parent company, here Pitcher Corporation, purchases 100% of the stock of another company, Softball in this case, it records the investment as an asset. The initial investment is recorded at cost, and then the value of this investment is adjusted annually to account for the parent's share of the subsidiary's income and dividends.
In 20X9, Softball reported a net income of $17,000. As Pitcher owns 100% of Softball, it would recognize an increase in the investment of $17,000 in its financial statements. Additionally, when Softball pays dividends, these are treated as a return on investment and so Pitcher would decrease the carrying value of the investment. Here, the dividends amounting to $4,700 would decrease the investment account of Pitcher.
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A competitive strategy of striving to be the low-cost provider is particularly attractive when: a. Most rivals are trying to be best-cost providers. b. Most buyers use the product in much the same ways, with user requirements calling for a standardized product. c. Most rivals are pursuing focused low-cost or focused differentiation strategies.
Answer:
The correctt answer is b. Most buyers use the product in much the same ways, with user requirements calling for a standardized product.
Explanation:
Striving to be the representative of the overall low costs of the industry is a powerful competitive approach in the markets with many price-sensitive buyers. A company achieves the leadership of low costs when it becomes the one that provides the products with the lowest costs and is not only one of perhaps several competitors with comparatively low costs. The strategic objective of a low cost company is to reduce them significantly more than its rivals of similar quality. When claiming a cost advantage over rivals, administrators should be careful to include the features and services that buyers consider essential: offering a product too austere undermines the attractiveness of the company's product and can drive buyers away, although its price is lower than competing products.
To achieve maximum efficiency, companies that use a low cost strategy need to get their cost advantage in ways that rivals find it difficult to copy or match. If it is relatively simple or cheap for competitors to imitate the leader's low cost methods, their advantage will last shortly to generate a valuable market advantage.
The following probabilistic activity time estimates are for the CPM/PERT network in Problem 9.9: TIME ESTIMATES (DAYS) TIME ESTIMATES (DAYS) ACTIVITY a m b ACTIVITY a m b 1 1 2 6 7 1 1.5 2 2 1 3 5 8 1 3 5 3 3 5 10 9 1 1 5 4 3 6 14 10 2 4 9 5 2 4 9 11 1 2 3 6 2 3 7 12 1 1 1 Determine the following: a.Expected activity times b.Earliest start and finish times c.Latest start and finish times d.Activity slack e.Critical path f.Expected project duration and standard deviation
Answer:
attached below
Explanation:
On average, there are 8 customers arrives a local bank per hour. Bob is the only bank teller on duty at the bank currently and needs to run out for 6 minutes. What is the probability that no customer will arrive in the next 6 minutes
Answer:
The probability that no customer will arrive in the next 6 minutes is 1.2 minutes or ratio of 0.2
Explanation:
Expected value is the value on the probability of occurrence of the values.
Expected Time consumed on customer in an hour = 8 x 6 = 48 minutes
Probability of customer arrives = 48/60 = 0.8
Probability that customer will not arrive = 1 - 0.8 = 0.2
Expected time Customer will not come in 6 minutes = 6 x 0.2 = 1.2 minutes
King Waterbeds has an annual cash dividend policy that raises the dividend each year by 44%. The most recent dividend, Div 0Div0, was $ 0.50$0.50 per share. What is the stock's price if a. an investor wants a return of 66%? b. an investor wants a return of 1010%? c. an investor wants a return of 1111%? d. an investor wants a return of 1313%? e. an investor wants a return of 1818%? a. What is the stock's price if an investor wants a return of 66%?
Answer:
Stock Prices expected of King Waterbeds are:
a. $8.67
b. $5.20
c. $4.73
d. $4.00
e. 2.89%
Explanation:
Based on Kin Waterbeds Dividend Policy of 4% incremental dividend Year on Year, it implies the next dividend Pay out would be $0.52 Per unit of share.
We understand that Returns on Investment in % is the actual Returns in Dollars divided by the invested Amount in Dollars.
Thus, to determine the Amount invested (now refereed to as Stock Prices), it will be my Actual Returns in Dollars divided by my expected Returns on Investment in %
The attached workings demonstrates how we arrived at the answers a to e.
A business plan:
a. Reduces the risk and uncertainty involved in starting a new company.
b. Is a guarantee of success for the small company.
c. Should be done by professional writers in consultation with the owner.
d. Should be kept in outline form to avoid over structuring the company.
Answer:
The correct answer is letter "A": Reduces the risk and uncertainty involved in starting a new company.
Explanation:
Business plans represent the goals companies set and the strategies they plan to use to achieve the objectives. In the business plan, the operative priorities are established so managers will certainly know what must be done first and what could be left behind. If applied in a start-up, the business plan could help investors to find out what the company pursues and what its contingency strategy is, reducing the risk of uncertainty.
At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that
a.they can check the identification cards of golfers.
b.local resident golfers and other golfers have the same price elasticity of demand to play at the municipal course.
c.there are many golf courses nearby from which golfers can choose.
d.they require all golfers to rent a cart
The correct option is - A (they can check the identification cards of golfers).
Explanation:
Price discrimination is generally a belief that consumers may be asked to pay either more or less based upon the various points on demographic features. They may also price according to the value of goods or services provided to them.
Thus, in the given case, in order to discriminate the price for the golf players, it is essential to check their cards identifying them as the residents of such place
Assume that Global Cleaning Service performed cleaning services for a department store on account for $180. How would this transaction affect Global Cleaning Service's accounting equation? A. Increase both assets and liabilities by $180 B. Decrease liabilities by $180, and increase equity by $180 C. Increase both liabilities and equity by $180 D. Increase both assets and equity by $180
Answer:
D. Increase both assets and equity by $180
Explanation:
When a service is done on account, revenue will be recognized but the corresponding assets is accounts receivables and not cash. Hence the transaction will increase the company's revenue and assets balances . Revenue is turned into equity through retained earnings.
The accounting equation is
assets = liabilities + equity
This transaction will increase assets and equity be $180 each.
Providing a service on account, as Global Cleaning Services did, increases both assets and equity by the amount of the service provided. In this case, that would be $180.
Explanation:When Global Cleaning Service performs cleaning services for a department store on account for $180, this transaction will increase both assets and equity by $180. Here's why: In this scenario, Global Cleaning Service is providing a service on account which means they haven't received payment yet, but they will in future. This kind of transaction is considered an account receivable which is an asset to the company. At the same time, because they have effectively made $180 (even if they haven't received it yet), their equity (which represents ownership in the company) also increases. So, the correct answer to your question is option D.
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Procter & Gamble is a consumer products company. It launches many new products every year. The people who develop each new product must understand consumer tastes, distribution, manufacturing, marketing, accounting, and legal issues. P&G uses teams because the group members
Answer:
Synergize to overcome their interdependent constraints in order to achieve their common goal
Explanation:
First, for Procter and Gamble to develop these money new products yearly it needs to bring together the various function s of many departments including manufacturing, Research and Development, Marketing, Accounting and even the legal team. Such an organisation cannot engage all the members of each of these units, hence, it will need to develop teams made up of key personnel from the various units.
Since the goal of the team is to develop a new product (common goal), they can then overcome their individual departmental differences in ordre to achieve the goal. This is easier than involving whole departments in the development process.
In many developing countries, the majority of citizens make their living through microenterprises- informal, tiny businesses that barely yield enough to survive.Without financial services, most of these entrepreneurs find growth simply impossible. The Foundation for International Community Assistance (FINCA), a nonprofit established in 1984, stepped into the gap by providing micro-loans ($50-$500) to the poorest of the poor entrepreneurs, through village banks that are administered by the people they serve. The FINCA program has been amazingly successful at breaking the vicious cycle of poverty for its clients. Check out their story on the Web at www.finca.org. Why has the FINCA approach worked so well? Do you think it would work in poor communities in the United States? Why or why not?
Answer:
The company provides micro financial services to poor and the needy people having no access to regular banking services
This helps to boost small businesses and financial inclusion which are heart of any economy and vital to the economy and promoting growth.
Possible measures taken by the organization includes providing funds for at lower interest rates and providing credit services. Subsidized credit to deficient areas increases productivity and employment growth by means of boosting the small and medium-sized enterprises.
This may work in poor communities in United States. However in united schemes there are lots of other governmental schemes such as coupons, free food etc program are already running.
However, these programs are also carrying a potential here. But there potential is much greater in poor countries having less developed banking and financial reach.
Explanation:
The FINCA approach has worked well due to providing micro-loans to the poorest entrepreneurs, fostering trust through local administration, but its applicability in poor communities in the United States may be limited due to differences in socio-economic conditions and infrastructure.
The success of the FINCA approach can be attributed to several key factors. Firstly, by providing micro-loans to the poorest entrepreneurs, FINCA empowers individuals to invest in their own businesses, generating income and lifting themselves out of poverty.
Secondly, the village bank model ensures that loans are administered locally, fostering trust and accountability within the community. Additionally, FINCA's focus on financial inclusion addresses a critical need in developing countries where access to traditional banking services is limited.
However, the effectiveness of the FINCA approach in poor communities in the United States may be limited due to differences in socio-economic conditions and infrastructure.
While microenterprise development programs can certainly benefit marginalized communities in the U.S., the extent of poverty and financial exclusion may not be as severe as in developing countries. Additionally, regulatory and cultural differences may present challenges to implementing a village bank model in the U.S.
An online bank is offering to pay 0.30% interest per month on deposits. Your local bank offers to pay 0.70% interest quarterly (every 3 months). Which is the higher interest rate?
Answer:
The higher interest rate is 0.3% monthly rather than 0.7% quarterly
Explanation:
Equivalent Rates of Interest
Rates of interest are related to time. If we are given a specific monthly rate r, it can be found an equivalent rate in another time base. But it depends on the type of interest we're working with (simple or compound)
If we have a r=0.3% per month, we can find the equivalent quarterly rate by simply multiplying by 3, if the investment is made on the simple interest type. In this case r = 0.3%*3 = 0.9% quarterly.
If we are working with compound interest, the equivalent rate is more complicated to find
(1+r)=(1+0.003)^3=1.0009003
We find
[tex]r=0.009003*100=9.003\%[/tex]
In both cases, the higher interest rate is 0.3% monthly rather than 0.7% quarterly
The interest rate that is higher in comparison would be:
0.3% monthly
Find the rate of interestGiven that,
Interest rate per month = 0.3%
Interest rate per quarter = 0.7%
If we calculate the annual interest for monthly and quarterly rate, it will be:
Monthly
No. of months in a year = 12
Monthly rate = 0.3%
So,
Annual Interest = 0.3 × 12
= 3.6%
Quarterly
No. of quarters in a year = 4
Quarterly rate = 0.7%
So,
Annual Interest = 0.7 × 4
= 2.8%
Since 3.6 is greater than 2.8, thus, 0.3% monthly is higher.
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Franklin Manufacturing Company (CMC) was started when it acquired $99,000 by issuing common stock. During the first year of operations, the company incurred specifically identifiable product costs (materials, labor, and overhead) amounting to $67,500. CMC also incurred $67,500 of engineering design and planning costs. There was a debate regarding how the design and planning costs should be classified. Advocates of Option 1 believe that the costs should be classified as general, selling, and administrative costs. Advocates of Option 2 believe it is more appropriate to classify the design and planning costs as product costs. During the year, CMC made 4,500 units of product and sold 3,900 units at a price of $36.00 each. All transactions were cash transactions. Required a-1. Prepare an income statement and balance sheet under option 1. a-2. Prepare an income statement and balance sheet under option 2. b. Identify the option that results in financial statements that are more likely to leave a favorable impression on investors and creditors. c. Assume that CMC provides an incentive bonus to the company president equal to 15 percent of net income. Compute the amount of the bonus under each of the two options. Identify the option that provides the president with the higher bonus. d. Assume a 35 percent income tax rate. Determine the amount of income tax expense under each of the two options. Identify the option that minimizes the amount of the company’s income tax expense.
Final answer:
When calculating the accounting profit for a firm, the total costs are subtracted from sales revenue. For Franklin Manufacturing Company, the classification of design and planning costs affects net income, the president's bonus, and income tax expense, with Option 1 showing higher net income and a larger bonus but higher tax expenses.
Explanation:
Financial Statement Preparation under Two Options
Calculating the accounting profit for a firm involves subtracting the total costs from the sales revenue. In the provided example, the firm had sales revenue of $1 million and incurred costs for labor, capital, and materials amounting to $950,000 ($600,000 + $150,000 + $200,000). Thus, the accounting profit would be the remaining balance of $50,000.
Option 1: Design and Planning Costs as General, Selling and Administrative Costs
Under this option, the design and planning costs are not included in the product cost and thus not affecting the cost of goods sold (COGS).
Option 2: Design and Planning Costs as Product Costs
Under this option, the design and planning costs are included in the product cost, which will increase the COGS and decrease the gross profit when compared to Option 1.
Without the specific financial details of Franklin Manufacturing Company, we can contemplate the effects in general terms:
Net income will be lower under Option 2 than Option 1 because of higher COGS, leading to a smaller bonus for the company president based on the performance incentive and lower income tax expenses due to lower taxable income.Investors and creditors might perceive the financial statements under Option 1 to be more favorable since it shows a higher net income.The president's bonus is tied to the net income, thus it will be higher under Option 1 given the higher net income.Weighing the tax implications, Option 2 would result in lower income tax expenses due to lower taxable income.Patricia Hill Collins refers to race, class, gender, etc. as "interlocking structures of oppression." Implied in that statement is that while some are oppressed and discriminated against on the basis of one or more of these categories, others continue to be be privileged. Citing peer reviewed sociological research on the subject, define privilege (on the basis of categories of identity) and discuss how privilege operates in peoples' daily lives.
Answer:
Patricia Hill Collins – Interlocking Structure of Oppression
Patricia Hill Collins is Charles Phelps Taft Professor of Sociology within and she is also a former Chair of the Department of African American Studies at the University of Cincinnati. Professor Patricia Collins received her B.A. and Ph.D. degrees in sociology from Brandeis University, and a degree in M.A.T. from Harvard University. She is a social theorist; her research and scholarship have dealt primarily with issues of gender, race, social class, sexuality and nation specifically relating to African American women. She has published number of articles in professional journals such as Sociological Theory, Ethnic and Racial Studies, Social Problems, Signs, and Black Scholar, as well as in various edited volumes.
In 1993 Patricia Collins wrote a wonderful piece discussing race, class, and gender as categories of analysis and connection in American society. This is very informative and let me take this liberty to summarize what I consider to be important things which we all should know about.
We live in a society which contains many kinds of people living around us. May times we all differ from each other. There are people are people around us from different backgrounds, race, caste, creed etc. With these different people, there are some people who are being oppressed for a long time in our society. These people are the victim of oppression. Due to this oppression and inequality, we have made a generalization that some people are victims and some are an oppressor. But this idea is somewhat flawed. For example, white skin women fight for the right to equality of women but little did they understand that white skin people have been oppressing black people for ages.
We live in a world where a group of people says about the oppression which they have faced at maximum. They talk about extreme oppression case of the people. People should know that these cases and concepts of oppression are full of contradictions and errors. In this world, If we look closely, we will come to know that there are only a few people who are pure victims of this oppression , otherwise, we all have oppressed other people at one point or another.
If we look closely to ourselves then, we’ll come to know that there is a piece of oppressor inside us. And this is the reason that world is having more oppressors and very less pure victims. We should look at our behavior while talking to other people, especially those who are in a minority so that we can take care of the piece of oppressor within us. In order to take care of this inequality, we need to understand new visions of what is oppression. When we’ll look at the terms closely, our ideas and vision can lead to short-term social changes and revolutions.
People talk about inequality and oppression most of the times, but they forget that sometimes, the oppressed people have many privileges based on their care, color, creed, gender etc. These things should be much more talked and taken care of. There are also some people who are oppressor according to some culture and oppressed according to another. Thus, we need some more info and a New vision to look into these flaws of the society. And it is seen many times that these institutions are interlocked.
The society we live in is a complex web of problematic relationship with the people living in it. There is a kind of cobwebs in the society these days. All people are having problems and personal issues living in the society. This is a part where inequality also plays a major role. We genuinely and sincerely need a new vision to fight this inequality.
Re-conceptualizing race, class, gender as a group for analysis
In order to Re-conceptualize this concept of oppressor and victim, we need to understand the fact that we all are oppressed and oppressor at some point in time. We must stop the additive analysis of oppression that is adding race, gender and class oppression will lead to a greater sum. And apart from that, we stand on the pillars of quantification of the oppression. We can’t deny the fact that there are people who are more oppressed than other and also the intensity may vary.
In order to establish new thinking in our society, we need to ask new questions to ourselves, see through the new vision and new perspective in the society. Our task is redefined in order to remove any kind of oppression and inequality in the society.
Explanation:
Intersectionality is the interconnected nature of social categories such as race, class, and gender, and privilege refers to systemic advantages for certain social categories. Patricia Hill Collins' theory explains how these interlocked identities shape individual experiences, leading to distinct forms of oppression or privilege that impact daily life.
Patricia Hill Collins has been instrumental in developing the concept of intersectionality, which emphasizes the interlocking nature of social categories such as race, class, and gender that create overlapping systems of discrimination or disadvantage. This framework suggests that these identity categories are not isolated from each other but are interrelated and manifest in complex ways in people's lives. Privilege, then, refers to the advantages that individuals or groups have solely based on certain aspects of their identity.
For example, an individual might benefit from white privilege in a society where race confers certain advantages, but they may also face gender-based oppression if they are a woman. Intersectional analysis aims to understand the full complexity of how individuals' multiple identities interact to produce unique experiences that cannot be understood by examining single identity categories in isolation.
Privilege operates in people's daily lives through systemic advantages that come with belonging to certain social categories. This operation of privilege can impact access to resources, opportunities for advancement, and the degree of respect and recognition an individual receives within different contexts. It's important to note that someone who is privileged in one area (like race) might still experience oppression in another (like class or gender).
Outlines give you a chance to organize your thinking before determining word choice and sentence structure. Which of the following create a more effective outline? Check all that apply.
a. Make each subpoint exclusive
b. Avoid single items under major components
c. Allow subpoints to overlap
d. Separate the main topic from the title
e. Break subpoints into major components
f. Divide the main topic into major components
Answer:
The correct answers are letters "A" and "E": Make each subpoint exclusive; Break subpoints into major components.
Explanation:
Outlining implies defining the main idea within the tittle first. Then, the main topic should be divided into major components, between three to five if possible. The components must then be divided into major subcomponents. In the case of having single subcomponents, they should be related to the component above or below. Each subcomponent must be exclusive and explained in detail.
Carolyn maintains an average monthly balance of $670 in her checking account. If her bank charges $7 per month as a minimum service fee, what would the annual interest rate need to be to just cover the monthly service fee?
Answer:
[tex]r=12.54\%[/tex]
Explanation:
Simple Interest
There are two common approaches in finance: Simple interest and compound interest. In the simple interest investment, the interests earned in a certain period are not added as part of the next investment period, i.e. it's equivalent to the account holder to withdraw the interest for each period.
The compound interest computes the interests earned in a period, adds it to the investment and computes the next interests including the previous interests.
The situation in the question requires us to compute the annual interest rate so the average monthly balance on Carolyn's account pays the fees by itself with the interest earned every month. It's equivalent to withdraw $7 as the monthly interest, thus it's considered as simple interest.
The interest earned for a principal P in a given period t at a rate r is given by
[tex]I=P\cdot r\cdot t[/tex]
The interest is assumed to cover the bank's fees, thus I=$7 for t= 1 month, thus, solving for r
[tex]\displaystyle r=\frac{I}{P\cdot t}=\frac{7}{670\cdot 1}=0.0104[/tex]
The annual interest rate is
[tex]r=0.0104*12=0.1254[/tex]
[tex]\boxed{r=12.54\%}[/tex]
Final answer:
To cover a monthly service fee of $7, Carolyn's checking account would require an annual interest rate of approximately 12.54% on her average balance of $670.
Explanation:
The annual interest rate would need to be for Carolyn to just cover a monthly service fee of $7 with an average monthly balance of $670 in her checking account. To find this, we will annualize the monthly service fee and then calculate the interest rate needed to earn that amount in a year. The annual service fee is $7 per month times 12 months, which equals to $84 per year. To break even on the fees with her balance, Carolyn's $670 would need to generate $84 in interest over one year. If 'r' represents the annual interest rate, the equation would be 670 * r = 84. Solving for 'r' gives us r = 84 / 670, which is approximately 0.1254 or 12.54% when converted to a percentage. Therefore, Carolyn's checking account would need to have an annual interest rate of 12.54% to cover the $7 monthly service fee.
Indicate whether each of the following statements is true or false: a. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Answer:
The statement is true. Because they can control product price, monopolists are always assured of profitable production by simply charging the highest price consumers will pay.
Explanation:
In economics, a monopoly is a term that describes an industry or other economic sector where control rests with one supplier as that supplier is the only one supplying the market. In theory, that means total control or "complete monopoly" but in practice most monopolies today are "quasi-monopolies", with a supplier dominating the market almost completely but with the space for a few small companies as well. The monopolist can get a high price for his product by limiting market supply so that the supply of goods is less than the demand for it.
When auditors conclude that a material and pervasive departure from GAAP exists in an entity's financial statements, which of the following phrases would most likely be included in their report
Do not present fairly in all material respects
Answer:
Do not present fairly in all material respects
Explanation:
In auditing, this kind of conclusion by the auditor is referred to as an adverse opinion.
An adverse opinion is expressed by the auditor in the auditor's report on a company's financial statement when there is a material misstatement which its impact can be pervasive on the financial statements.
This adverse opinion is normally expressed only when the financial statements pervasively not in line with Generally Accepted Accounting Principles GAAP.
For instance, an adverse opinion will be expressed by the auditor when a company refuses to consolidate a material subsidiary.
Journalize the following foregoing transactions of the buyer, assuming that the company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles.
Dec. 1 Merchandise with a list price of $4,700 is purchased on account, terms FOB shipping point, 1/10, n/30. The seller prepaid freight costs of $100.
3 Prior to payment, $1,600 of the merchandise is returned.
8 The invoice is paid within the discount period.
Answer:
Buyer perspective:
Inventory 4700 debit
Accounts Payable 4700 credit
--to record purchase--
Accounts Payable 1600 debit
Inventory 1600 credit
--to record returned goods--
Accounts Payable 3100 debit
Inventory 31 credit
Cash 3069 credit
--to record payment within discount--
Explanation:
The freights are being paid by the seller as the FOB shipping point the goods are in their possesion until arrive at destination thus, it should assume the trasnportation cost
Account balance:
4700 invoice - 1600 return = 3,100
discount 1% of the balance: 31
cash outlay considering the discount
3,100 - 31 = 3,069
At Burnt Mesa Pueblo, archaeological studies have used the method of tree-ring dating in an effort to determine when prehistoric people lived in the pueblo. Wood from several excavations gave a mean of (year) 1240 with a standard deviation of 26 years. The distribution of dates was more or less mound-shaped and symmetric about the mean. Use the empirical rule to estimate the following.
a. a range of years centered about the mean in which about 68% of the data (tree-ring dates) will be found between________ and_________ A.D.
b. a range of years centered about the mean in which about 95% of the data (tree-ring dates) will be found between________ and_________ A.D.
c. a range of years centered about the mean in which almost all the data (tree-ring dates) will be found between________ and________ A.D.
Answer:
a. 1214 and 1266 A.D.
b. 1188 and 1292 A.D.
c. 1162 and 1318 A.D.
Explanation:
According to the empirical rule, in a normally distributed data set, 68% of data falls within one standard deviation above or below the mean, 95% of data falls within two standard deviations of the mean and almost all of the data is within three standard deviations of the mean.
If the mean year is 1240 and the standard deviation is 26 years:
a. 68% of data:
[tex]1240 -26 \leq A \leq 1240+26\\1214 \leq A \leq 1266[/tex]
b. 95% of data
[tex]1240 -(2*26) \leq B \leq 1240+(2*26)\\1188 \leq B \leq 1292[/tex]
c. Almost all data
[tex]1240 -(3*26) \leq C \leq 1240+(3*26)\\1162 \leq C \leq 1318[/tex]