Answer:
The journal entry to reflect Smith's new capital balance will include a credit to Smith, Capital in the amount of $30,000.
Explanation:
Step 1: Determine Smith's capital balance
Smith's new capital balance can be expressed as shown;
C=I+B1+B2
where;
C=new capital balance
I=Smith's capital investment
B1=T. Bina bonus amount
B2=M. Valley bonus amount
In our case;
C=unknown, to be determined
I=$20,000
B1=$5,000
B2=$5,000
Replacing;
C=(20,000+5,000+5,000)=$30,000
New capital balance=$30,000
Step 2: Record Smith's New Capital balance
Account Debit Credit
Cash 30,000
Smith 30,000
A credit to Smith, Capital in the amount of $30,000
A boat-cleaning company needs to increase its number of clients. It walks through segmentation and targeting exercises and discovers that the identified target segment is not addressed in its current marketing mix. What question were they trying to answer by conducting targeting and segmentation activities?
Marketing of a boat cleaning company needs to account for targeting a segment of population that owns boats.
Explanation:
Here, in simple terms, the marketing strategy is missing the people it was supposed to target for their marketing.
The company working in the niche has to target boat owners specifically, which the marketing fails to do.
Segmentation is an activity in which a wide net of marketing population is marketed to and then the clients are filtered out. This is not a very effective method but it was essentially trying to find which people look out for the service the company provides.
The boat-cleaning company conducted targeting and segmentation activities to identify which market segment to focus on. They found that their current marketing mix did not address the identified target segment.
Explanation:The boat-cleaning company conducted the targeting and segmentation activities to answer the question of which market segment to focus on in order to increase its number of clients. Segmentation involves dividing the market into smaller groups based on similar characteristics or needs, while targeting involves choosing a specific segment to focus on.
By identifying that the current marketing mix does not address the identified target segment, the company can make necessary adjustments to better cater to the needs and preferences of the target segment.
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You land a marketing job with Canon after graduation– in the digital camera division. After introducing a new digital camera, you estimate that the price-elasticity of demand for the camera equals 2 and the income-elasticity is equal to 0.5. Furthermore, the cross-price elasticity with a similar Kodak camera is equal to 1.25. Using this information, you would conclude that the product is income-:
Answer:
The answer is inelastic.
Explanation:
Since the income-elasticity is 0.5(less than 1), it means the product is income inelastic. Income inelastic means that increase in income of households does not mean there will be an increase in quantity demanded(i.e an increase in income lead to decrease in quantity of Canon demanded).
The cross-price elasticity with Kodak camera is equal to 1.25. This means that Kodak and Canon are substitutes
The receivers of the communication must accommodate their perceived multiple meanings and personal agendas and then negotiate a meaning or interpretation of the ad according to their individual life experiences and value systems.A. TrueB. False
Answer:
A. True
Explanation:
Multidomestic corporations ________.
a. attempt to replicate their domestic successes by managing foreign operations from the home country
b. maintain operations in multiple countries, but do not allow managers in each country to make their own decisions
c. reflect ethnocentric attitudes
d. decentralize management and other decisions to the local country
Answer:
d. decentralize management and other decisions to the local country
Explanation:
Multidomestic corporations -
It is a type of multinational corporation , which is operated by the local management structure , is referred to as multidomestic corporation .
It make sure the presidents and head of the country make the decisions .
The multinational corporation is decentralized in nature .
As it does not take all the decision from one primary place , so it is decentralize .
Hence , from the given question ,
The correct option is d.
Multidomestic corporations d. decentralize management and other decisions to the local country.
Multidomestic corporations tend to adapt their business strategies to fit local markets, allowing for greater responsiveness to local needs and preferences.
They achieve this by decentralizing decision-making and management to local subsidiaries, which are empowered to function somewhat autonomously while the central headquarters focuses on global strategies, resource allocation, and other overarching functions.
A prime example of a multidomestic corporation is Nestlé, which allows for local adaptation and differentiation while maintaining a strong central strategy for global integration.
Economics Airlines currently spends $20,000 per month in airport fees and $10,000 per flight for fuel, crew, and airplane maintenance. Economics Airlines currently offers 5 flights from State College to Detroit and is considering offering a 6th. If each seat ticket costs $500, how many customers must fly on the 6th flight in order for Economics Airlines to be willing to run it?
a. 60
b. 20
c. 10
d. 40
Answer:
b. 20
Explanation:
For 5 flights per month
Total Cost = Variable cost + Fixed cost
Total Cost = Fuel, crew, and airplane maintenance cost + Airport fee
Total Cost = (5 X 10000) + 20,000 = $70,000
For 6 flights per month
Total Cost = Variable cost + Fixed cost
Total Cost = Fuel, crew, and airplane maintenance cost + Airport fee
Total Cost = (6 X 10000) + 20,000 = $80,000
Additional Cost for 6th flight = $80000-70,000 = $10,000
Minimum No. of Passenger to cover the cost = Additional cost / Ticket price per seat
Minimum No. of Passenger to cover the cost = $10,000 / $500 = 20 seats passengers.
In order for Economics Airlines to be willing to run the 6th flight, 300 customers must fly on it.
Explanation:In order for Economics Airlines to be willing to run the 6th flight, it needs to cover its costs, which include airport fees and expenses for fuel, crew, and maintenance. Currently, the total cost for 5 flights is 5 times the sum of airport fees ($20,000) and flight expenses ($10,000).
So, the total cost for 5 flights is 5 * ($20,000 + $10,000) = $150,000.
Each seat ticket costs $500, and the airline needs to cover the cost of the 6th flight. To find out how many customers must fly on the 6th flight, we need to divide the cost of the 6th flight by the ticket price: $150,000 / $500 = 300 customers.
Therefore, in order for Economics Airlines to be willing to run the 6th flight, 300 customers must fly on it.
If one worker produces 15 cones of ice cream in an hour, two workers produce 25 ice cream cones, and three workers produce 30 ice cream cones in an hour, what is the marginal return of production of the second worker?
Answer:
The marginal return of production of the second worker or marginal product of the second worker is 10 cones.
Explanation:
One worker can make 15 cones of ice cream in an hour.
Two workers can make 25 cones in the same time.
While three workers can make 30 cones in an hour.
The marginal return of the production of the second worker is the contribution of the second worker in the total output.
Marginal return
= 25 cones - 15 cones
= 10 cones
Final answer:
The marginal return of production of the second worker is 10 ice cream cones, determined by subtracting the production output of one worker from that of two workers.
Explanation:
The marginal return of production of the second worker is the additional number of ice cream cones produced by the second worker, over and above what was already being produced by the first worker. Since one worker produces 15 cones and two workers produce 25 cones, the marginal return of the second worker can be calculated as follows:
25 cones (produced by two workers) - 15 cones (produced by one worker) = 10 cones
Therefore, the marginal return of production of the second worker is 10 cones.
Portman, who runs a computer hardware store, had signed a contract with Stewie Inc. to deliver 125 computer monitors. He was to deliver it by the 5th of August, but by the 3rd of August, Portman could not arrange for the monitors, as his usual supplier was not available. Portman then decided to go to another supplier who had a higher selling price rather than cancel the contract with Stewie Inc., as he believed it was his duty to do so. Which of the following moral theories matches Portman's behavior?
A. Moral relativism
B. Rawls's social justice theory
C. Kantian ethics
D. Utilitarianism
Answer:
C. Kantian ethics
Explanation:
Immanuel Kant's ethics considers the well being as the true good. The action's goal underlies to follow universal moral qualms. This makes the persons act above their interests and wishes.
In this case, Portman feels the duty to perform the contract, even as it is against their interest (the new suppliers charges more) because; Portman is acting in well-being we stablish it is following Kantian ethics
"Jiffy peanut butter and Smucker's Strawberry jam are considered to be complementary goods. Show how an increase in the price of Jiffy peanut butter affects the demand for Smucker's Strawberry jam. When the price of a related good changes, this will result in:"
Answer:
Inverse Relationship between demand of a good & its complementary good's price. Prise rise of peanut butter will reduce demand of strawberry jam.
Positive Relationship between demand of a good & its substitute good's price.
Explanation:
'Other goods price' is a factor affecting demand. These are substitute goods price & complementary goods price.
Complementary Goods are goods used together (eg- Jiffy peanut butter & Smucker's strawberry jam, here). These goods price & demand are inversely related.
Price rise of a complementary good (jiffy peanut butter) leads to fall in its own quantity demanded & so decrease in demand of its complement good (smucker's strawberry jam), because they are jointly demanded. Also- Price fall of a complementary good leads to rise in its own quantity demanded & so decrease in complement's demandSubstitute goods are are goods that can be used interchangeably. Eg - Coke , Pepsi . Substitutes price & demand are positively related
Price rise of good makes it relatively expensive & decreases its demand.Prise fall of good makes it relatively cheaper & increases its demand.The price of complementary goods like Jiffy peanut butter and Smucker's Strawberry jam is interdependent. If the price of Jiffy peanut butter increases, it will reduce the demand for both itself and Smucker's Strawberry jam as they are usually consumed together.
Explanation:In economics, Jiffy peanut butter and Smucker's Strawberry jam can be considered as complementary goods. Complementary goods are two goods that are usually consumed together. This means if the price of one good increases, the demand for the other good decreases, and vice versa.
If there’s a price change in Jiffy peanut butter and it becomes more expensive, consumers are less likely to buy it. As a result, the demand for its complementary good, Smucker's Strawberry jam, will also decrease. This is because if you commonly eat these two items together (like in a PB&J sandwich), the increased cost of the total 'package' (pb+jam) may result in consumers purchasing less of both items.
In short, when the price of a related good changes, it will change the demand for any goods that are complementary to it.
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Which of the following best defines scientific management? Group of answer choices It is the behavior that conforms to a society's accepted principles of right and wrong. It is maintaining planning flexibility by making small, simultaneous investments in many alternative plans. It is the set of moral principles or values that defines right and wrong for a person or a group. It is the thorough studying and testing of different work methods to identify the best, most efficient way to complete a job.
Answer:
Correct option is 'It is through studying and testing of different work methods to identify the best, most efficient way to complete a job'
Explanation:
Scientific management refers to employing different methods or workflows to improve labor work efficiency, thereby achieve organizational objectives in a efficient way.
Application of scientific methods to improve efficiency proved highly beneficial. One of the methods was to break down big tasks into smaller and simpler tasks and dividing the tasks among the labor as per their skills. This ensured quality work.
Pink Couture Inc. and Pink Blush Inc. are two companies in the apparel industry. While Pink Couture Inc. focuses on providing unique product features and superior customer service, Pink Blush Inc. focuses on low prices and minimal customer service. Both companies have been able to gain a competitive advantage. This is most likely because the companies have ________.A) the companies have executed integrated strategies.
B) the companies have pursued distinct strategic positions.
C) the companies have entered into a cartel arrangement.
D) the companies have engaged in direct imitation and substitution.
Answer:
Correct option is (B)
Explanation:
Positioning is a strategy adopted by organizations through which it concentrates on one or two core competencies excel in them to achieve organizational goals. These values are etched in the minds of consumers and they identify the organization by these values.
In case of competitors who manufacture more or less similar products can position their goods in a unique manner, thereby gaining competitive advantage. Differentiation could be in terms of pricing, quality and reach.
In this case, both the companies are following distinct positioning strategies as they are competing firms.
Decentralized purchasing is the practice where individual, local purchasing departments throughout a single corporation make their own, individual purchasing decisions to fulfill their individual local needs.True / False.
Answer:
True
Explanation:
Decentralised purchasing also means the purchase of each manufacturing center necessity in the organisation. This method, instead of dropping buying power with a single branch,it would be given to regional offices or branches. They have the power to buy the items needed as per their demands. Acquiring in large quantities lowers the cost to the company.
A tax placed on environmentally harmful activities or emissions in an attempt to internalize some of the externalities that may be involved in the life cycle of those activities or products. True or false?
Answer:
Green Tax
Explanation:
Based on the information provided within the question it can be said that the term that is being described in the question is called a Green Tax. Like mentioned in the question this refers to a tax that is placed on environmentally harmful activities or emissions and is done so with the intention of promoting environmentally friendly activities by punishing opposite actions.
Shawn claims that he multitasks very effectively, and also says that he actually performs better while multitasking than when doing a single task. You ask Shawn to test this claim. Shawn reads a newspaper article while listening to a baseball game, and then reads another article in silence. Based on research on multitasking, when you time Shawn's reading speed and test his comprehension, you are likely to find that his reading is A) both slower and less accurate when listening to the game b) faster slower and less accurate when listening to the game c) Both d) NOne of these
Answer:
A) both slower and less accurate when listening to the game
Explanation:
Shawn might have made the claim that he multitasks very effectively, and also that he actually performs better while multitasking than when doing a single task but the truth varies.
According to psychological researches, Multitasking reduces efficiency and performance as a result of the fact that the brain can only focus on an activity at a time. The brain lacks the capacity to perform two or numerous tasks simultaneously and successfully. A combination of activities at once makes the brain less effective because there would be divided attention.
Research has also revealed that, in addition to slowing down performance, multitasking lowers your IQ.
A customer alleges wrongdoing on the part of a registered representative and files a complaint with the broker/dealer. The broker/dealer decides to settle without going to arbitration/trial and pays the client a total of $18,000. What is required in this situation?
Answer:
D) II and IV
The settlement must be disclosed on the RR's U-4 for the remainder of the RR's career in the financial industry. The record of the settlement must be made public on the FINRA websiteExplanation:
Since the dispute was over a $15,000 amount, the settlement must be recorded using the registered representative's U-4, section 14 I, section 2. This disclosure must contain the information regarding the incident that lea to the settlement and whether the complaint was written or oral. This information must also be uploaded to the FINRA website under the broker check section which includes all the customers' complaints.
. During 20X9, Alpha Co. purchased debt securities classified as trading securities. At the end of 20X9, the market value of Alpha’s investment in debt securities exceeded the amortized cost. Alpha should report the debt securities on its 20X9 balance sheet at
Multiple Choice
a. Amortized cost
b. Market value
c. Cost
d. Lower of cost or market
Answer:
b. Market value
Explanation:
Alpha' Co's trading securities are considered as cash equivalent item and recorded as current assets in the balance sheet, because of its short maturity period. The market value of securities should be reported on the balance sheet as on the year end of Alpha Co. So, Correct answer is Alpha should report the debt securities on its 20X9 balance sheet at Market value.
__________ seeks to be the preeminent professional association providing worldwide leadership for the evolving logistics profession through the development, dissemination, and advancement of logistics knowledge.a. CSCMP
b. APICS
c. ISM
d. ASQ
Answer:
CSCMP
Explanation:
Suppose you are spending two hours a day studying economics, and your grade is 85 percent. You want a higher grade and decide to study for one extra hour a day. As a result, your grade rises to 90 percent. Your marginal benefit of the hour studying is
Answer:
a 5 percent increase in your grade.
Explanation:
Marginal benefit refers to the additional benefit or utility obtained from consuming one extra unit of a product or service, or doing one extra unit of some type of activity.
For example, the marginal benefit of working out at least 30 minutes per day is that you body will be in better shape and you will be healthier. The marginal benefit of buying one more gallon of gas is that you will be able to drive your car 25 more miles.
Final answer:
The marginal benefit of studying an additional hour of economics is the increase in the student's grade from 85 percent to 90 percent, which is a 5 percent increase.
Explanation:
The marginal benefit of the extra hour spent studying economics is the increase in the grade percentage due to that additional hour of study. In this scenario, the grade improved from 85 percent to 90 percent which means the marginal benefit is the difference between the two grades, which is 5 percent. Marginal benefit is an important concept in economics that represents the additional benefit gained from consuming or using one more unit of a good or service.
In the context of studying time and grading, it is assumed that the total benefit of studying increases with each hour spent studying, but at a decreasing rate, leading to a downward-sloping marginal benefit curve. The marginal benefit of the first hour of studying economics is provided as an example in the study materials, but the specific marginal benefit of each additional hour is characterized by the slope of the total benefit curve at that point.
It is also worthwhile to consider the marginal cost of the additional hour spent studying, which might be the opportunity cost of not engaging in another activity, such as studying for a different exam. However, in this scenario, only the marginal benefit of studying economics for an additional hour is requested and has been determined to be a 5 percent increase in the grade.
With reference to an escrow, recurring costs mean: (a)closing fees. (b)tax calculations. (c)impound accounts. (d)realtor fees.
Answer:
b tax calculations
Explanation:
because the escrow gets an estimate at the beginning, but appraisal district in the area will verify if any changes up or down will determine the taxes for that year, so it is never set.
Wikipedia is a collaborative website that defines terms and provides information on many different subjects. It is not a peer reviewed site. Because of this Wikipedia probably lacks ___________ information quality.
Answer:
Probably lacks accurate information quality.
Explanation:
Select a transaction that effects the accounting equation as follows:________
Effects
A. The company pays cash toward an account payable.
B. The company purchases equipment on credit.
C. The owner invests cash in the business in exchange for its common stock.
D. The company pays cash dividends to shareholders.
E. The company purchases supplies for cash.
F. The company provides services for cash.
Transaction
Decreases an asset and decreases a liability.
Decreases an asset and decreases equity.
Increases an asset and decreases an asset.
Increases an asset and increases a liability.
Increases an asset and increases equity.
Answer:
A. The company pays cash toward an account payable.
Decreases an asset and decreases a liability.
B. The company purchases equipment on credit.
Increases an asset and increases a liability.
C. The owner invests cash in the business in exchange for its common stock.
Increases an asset and increases equity.
D. The company pays cash dividends to shareholders.
Decreases an asset and decreases equity.
E. The company purchases supplies for cash.
Increases an asset and decreases an asset.
F. The company provides services for cash.
Increases an asset and decreases an asset.
Explanation:
A. The company pays cash toward an account payable.
Decreases an asset and decreases a liability.
When a company pays cash - an asset is decreasing because cash is a current asset and it is flowing out; while 'account payable' which is a current liability, is being settled - hence reducing
B. The company purchases equipment on credit.
Increases an asset and increases a liability.
When a company purchases equipment on credit - an asset is increasing because equipment is a fixed asset and it is coming in; while 'account payable' which is a current liability, is being generated - hence increasing
C. The owner invests cash in the business in exchange for its common stock.
Increases an asset and increases equity.
When a company owner invests into the business - an asset is increasing because cash is a current asset and it is coming in; while 'Equity' which is common stock, is being generated - hence increasing
D. The company pays cash dividends to shareholders.
Decreases an asset and decreases equity.
When a company pays dividends - an asset is decreasing because cash is a current asset and it is going out; while 'retained earnings' which is part of equity, is being reduced.
E. The company purchases supplies for cash.
Increases an asset and decreases an asset.
When a company purchases supplies on credit - an asset is increasing because 'inventory' is a current asset and it is coming in; while 'cash' which is also an asset, is being paid out - hence decreasing
F. The company provides services for cash.
Increases an asset and decreases an asset.
When a company provides service for cash - an asset is increasing because cash which is a current asset is coming in; while 'cash' which is a current asset, is being paid out at the same time for salaries to employees who rendered the service to the client - hence decreasing
Transaction Effects
a The company pays Cash towards an account payable Decrease an asset and decreases liability
b The company purchases equipment on credit Increases an assets and increases a liability
c The owner invests cash in the business in
exchange for its common Stock Increases an assets and increases a equity
d The company pays cash dividend
to shareholders Decrease an asset and decreases equity
e The company purchases supplies for Cash Increase an assets and decrease an assets
f The company provides services for Cash Increase an assets increase equity
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On the worksheet, Accounts Receivable has a debit balance of $15,000 on the Unadjusted Trial Balance. In the Adjustments there is a debit of $3,000. What is the amount for Accounts Receivable in the Adjusted Trial Balance?
Answer:
The adjustment balance will be of 18,000
Explanation:
We should build Accounts Receivables T-account to get the adjusted balance:
Accounts Receivables
DEBIT CREDIT
15,000 UNADJUSTMENT
3,000 ADJUSTMENT
18,000 ADJUSTED BALANCE**
**As the adjustment is in the same side as the unadjusted balance, we add it. So we end up with 15,000 + 3,000 = 18,000
Samantha is the return desk coordinator in a department store, and she has set a goal this month of finishing her daily office work quicker so she can assist at the Return Desk earlier in the morning. She knows this will also help decrease theft, which will assist the company in achieving its goal of decreasing costs. Samantha's goal of finishing her office work quicker is a(n)
operational goal T/F
Answer:
The answer is true
Explanation:
Operational goals are specific to the daily tasks and requirements to run a business
Samantha's goal to finish office work quicker to assist at the Return Desk earlier is an operational goal, focusing on day-to-day operations efficiency and aiding the company's cost-saving goals.
Explanation:Samantha's goal of finishing her office work quicker so that she can assist at the Return Desk earlier in a department store is indeed an operational goal. Operational goals are specific, short-term targets that are designed to achieve efficient day-to-day operations, which in this case, also aligns with the company's overarching aim of decreasing costs. By improving her efficiency, she is not only meeting her own goal but also contributing to the company's cost-saving objectives by potentially decreasing theft.
U.S. sugar import quotas have existed for more than 50 years and preserve about half of the U.S. sugar market for domestic producers. Why does the United States continue to have these quotas?
Answer:
United States continue to have quotas because it increases the price of imported Sugar and thereby reducing the quantity demanded.
Explanation:
To start with, quotas is a restriction imposed by a government. Quotas limits the quantity of a good that can be imported into a country during a specific period of time. In this question, an import license specifies the quantity of Sugar that be brought into (imported) the USA.
United States continue to have these quotas because import quotas reduces the supply of imported goods (Sugar), thereby, preventing an uncontrolled importation of Sugar. This raises the price of imported Sugar against the price of locally produced Sugar which is lower in price. Intuitively, consumers will go for lower price (locally produced Sugar) which satisfies the law of demand for normal goods.
Therefore, it helps the domestic producers to stay in the competition.
Answer:protectionism
Explanation:
Roberto, a manager at GBN, has to prepare a report about the advantages of introducing a counseling program for employees in his company. In his report, he makes the claim that introducing a counseling program would reduce voluntary turnover because employees would be happier with their pay packages, but he offers no evidence linking counseling with pay. This report failed to effectively deliver the message that Roberto had intended. Which of the following is the most likely reason for its failure?
a. weak analogy.
b. exaggeration.
c. either/or logic.
d. unsupported generalization.
e. slanting of facts.
Answer:
The correct answer is letter "D": unsupported generalization.
Explanation:
Unsupported generalization is a statement given after coming to a broad conclusion on facts that might not be related to the topic pointed out. Evidence could be presented in these arguments but it is considered inconsistent because those arguments could be helpful to support other conclusions rather than the provided.
Vicky Rogers works in the accounts payable departmentat HDU, Inc. When checks are returned to the company for incorrectvendor addresses, she is supposed to research them, correct them, and then forward them to the proper address. Instead,Rogers decided to convert some of the returned checksfor her own use. Based on the information provided, what type of check tampering scheme is this likely to be?
a. Forged maker
b. Forged endorsement
c. Concealed check
d. Authorized maker
Answer:
b. Forged endorsement
Explanation:
Forged endorsement as it write the check with a forge a sign to endorse it on his favor (covert check for her own use) This makes impossible for the firm to pay their account through those checks as Vicky is the person receiving his value.
The company should rotate the check signers or separate the duties of check preparating and check signing.
Drudgen Fitness Inc. is a fitness equipment provider that markets its products through a chain of retailoutlets in four states. As part of its expansion strategy, the company decides to open outlets in four morestates and decides to revise its existing business processes. According to the five-component model ofinformation systems, which of the following processes will be the least disruptive to the organization?1. collecting demographic data from the new markets 2. developing new CRM software for the existing and new outlets 3. relocating existing employees and hiring new employees 4. buying and installing new computers in the new outlets
Answer:
4) buying and installing new computers in the new outlets
Explanation:
The five component model of information systems includes what a company needs to create is IT infrastructure and it includes:
people: I firmly believe that people are the most important component of any system, at least until AI replaces us. hardware: refers to the equipment needed (e.g. computers, etc.)software: includes both system (windows or linux) and applications software (e.g. ERP software) database: the place where collected data is stored, e.g. physical storage devices or cloud storage network: the connections needed for different hardware to work together, e.g. cables, routers, internet serviceFinal answer:
Collecting demographic data from the new markets would be the least disruptive process for the expansion of Drudgen Fitness Inc., as it is an incremental task unlike the other options which require significant changes to business practices.
Explanation:
Considering the processes involved in the expansion of Drudgen Fitness Inc., and referencing the five-component model of information systems, collecting demographic data from the new markets would likely be the least disruptive process to the organization. This is because it represents an incremental addition to the company's existing research activities and does not necessitate significant shifts in the existing business practice or the use of resources. In contrast, developing new CRM software, relocating existing employees and hiring new ones, or installing new computers and systems can be much more disruptive due to the complexity, costs, and potential to interrupt existing operations and the comfort level of current staff with established equipment and software.
Jagjit company designs and builds retaining walls for individual customers. on august 1, there were two jobs in process: job 93 with a beginning balance of $8,650, and job 94 with a beginning balance of $7,270. jagjit applies overhead at the rate of $9 per direct labor hour. direct labor wages average $16 per hour. data on august costs for all jobs are as follows:
Answer:
The question is incomplete find below the complete question.
Applying Overhead to Jobs, Costing Jobs
Jagjit Company designs and builds retaining walls for individual customers. On August 1, there were two jobs in process: Job 93 with a beginning balance of $8,650, and Job 94 with a beginning balance of $7,270. Jagjit applies overhead at the rate of $9 per direct labor hour. Direct labor wages average $16 per hour. Data on August costs for all jobs are as follows:
Job 93 Job 94 Job 95 Job 96
Direct materials $950 $4,500 $3,300 $1,300
Direct labor cost 2,160 5,400 2,610 900
During August, Jobs 95 and 96 were started. Job 93 was completed on August 17, and the client was billed at cost plus 40%. All other jobs remained in process.
Required:
1. Calculate the number of direct labor hours that were worked on each job in August.
2. Calculate the overhead applied to each job during the month of August.
3. Prepare job-order cost sheets for each job as of the end of August.
4. Calculate the balance in Work in Process on August 31.
5. What is the price of Job 93?
6. CONCEPTUAL CONNECTION: Partway through the year, Jagjit bought a bulldozer to handle larger jobs. The bulldozer cost $38,000 and is needed for larger commercial jobs. Smaller residential jobs can still be done with the smaller bobcat tractor. How could the bulldozer’s cost be applied to only those jobs that need the larger equipment?
Explanation:
For questions 1 to 5 ,I have the answers in the excel file.
For Question 6,the bulldozer cost can depreciated depending on the envisaged useful live.The depreciation charge per year can be apportioned to jobs that made use of the bulldozer that year on direct labor hours basis
The question pertains to computing job costs in a business that uses an overhead allocation based on direct labor hours. It involves calculating the total cost for each job by adding the beginning balance, direct labor cost, and applied overhead.
Explanation:The subject of this question pertains to the calculation of job costs in a company that applies overhead based on direct labor hours. The Jagjit Company has two ongoing jobs with beginning balances. Overhead is applied based on the use of direct labor hours. To compute the total job costs on any day, you would need to sum the beginning balance, direct labor costs (calculated as labor hours multiplied by wage rate), and applied overhead (calculated as labor hours multiplied by overhead rate).
For example, if Job 93 took 10 labor hours on August 1st, its direct labor cost would be 10 × $16=$160, and applied overhead would be 10 × $9=$90. The total cost for Job 93 on that day would thus be $8,650 (beginning balance) + $160 (labor cost) + $90 (overhead) = $8,900.
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Sometimes the risks posed by a project are deemed unacceptably large compared to the potential benefits, and the ultimate avoidance strategy is to not perform the project at allA. TrueB. False
Answer:
TRUE
Explanation:
Sometimes the risks posed by a project are deemed unacceptably large compared to the potential benefits, and the ultimate avoidance strategy is to not perform the project at all.
The major reason for risk identification in risk analysis is to know if there are risks that will either cause the project to fail or erase all the potential benefits of the project.
Risks that have been categorized as both high impact and high probability of occurrence will most likely cause a project to be terminated, or to fail if it is continued in spite of the risks identified.
Such projects can only be performed if they somission critical and their impact and probability of occurrence can be reduced
The reserve ratio is 20% for the banking system below. If the Federal Reserve sells $50,000 of Treasury bills to the banking system, then the money supply will decrease by $_____.
Answer:
$250,000
Explanation:
The effect of a change in the money supply is given by the following equation: money increase/decrease x money multiplier
the money multiplier = 1/reserve ratio = 1/20% = 5
so the net effect of this transaction = -$50,000 x 5 = -$250,000
Find the sticker price for a vehicle with the following features and costs: Suggested retail price of $13,760, destination charge of $475, equipped with AC, cruise control, and a custom sound system for $800, $235, and $510, respectively.
(Points : 2)
$15,780
$13,780
$13,390
$11,780
Answer:
$15,780
Explanation:
The sticker price for a vehicle with all the features is the total of all the given cost elements.
These include the retail price, destination charge, cruise control, custom sound etc.
Hence, the sticker price for the vehicle
= $13,760 + $475 + $800 + $235 + $510
= $15,780
The total sticker price of the vehicle considering the retail price, destination charge, and additional features (AC, cruise control, custom sound system) is $15,780.
Explanation:To find the sticker price for the vehicle, we need to add up all the costs presented. The suggested retail price is $13,760. Added to that is the destination charge of $475. The extras such as AC, cruise control, and a custom sound system are priced at $800, $235, and $510 respectively. All these together add up to: $13,760 (retail price) + $475 (destination charge) + $800 (AC) + $235 (cruise control) + $510 (custom sound system) = $15,780. Therefore, the sticker price for the vehicle with these features and costs is $15,780.
Learn more about Vehicle Sticker Price Calculation here:https://brainly.com/question/34045952
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