Answer:
B
Explanation:
Option c: the going concern assumption means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
The going concern assumption is a fundamental principle in accounting and finance that allows businesses to prepare their financial statements with the expectation that they will continue to operate in the foreseeable future, rather than being liquidated or ceasing operations.
Let's break down the choices available based on your question:
a. Means that a business is accounted for separately from other business entities, including its owner.
This statement describes the entity assumption, not the going concern assumption.b. Means that we can express transactions and events in monetary, or money, units.
This refers to the monetary unit assumption, which is also not the going concern assumption.c. Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
This is the correct definition of the going concern assumption. It implies that the business is expected to continue its operations for the foreseeable future and thus can defer the recognition of certain expenses until a later date.d. Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.
This describes the time period assumption, which is different from the going concern assumption.e. Prescribes that a company records the expenses it incurred to generate the revenue reported.
This pertains to the matching principle in accounting, not specifically the going concern assumption.If the expected path of 1-year interest rates over the next five years is 2 percent, 4 percent, 1 percent, 4 percent, and 3 percent, the expectations theory predicts that the bond with the lowest interest rate today is the one with a maturity of:_______.a. one year.
b. two years.
c. three years.
d. four years.
Answer:
.a. one year.
Explanation:
Expectation theory believes that the longer the maturity rate of a bond is the more interest it will generate, yet investing in two 1 year bonds may earn the same interest as one 2 year bond. Therefore in this scenario the bond with the lowest interest rate today is the one with a maturity of one year, due to it being the shortest bond to reach maturity.
The teaching profession in the United States has been understaffed in recent years. The non-profit organization Teach for America identifies, selects, motivates, develops, compensates and evaluates qualified candidates to teach in public schools. This process is known as:______.
a. human resource management.
b. recruiting and developing.
c. scheduling and managing.
d. on-the-job training.
e. management development.
business ethics chapter 7 vicarious liability is a legal concept that means a party may be held responsible for injury or damage only if he or she were actively involved in an incident true false
Answer:
False
Explanation:
Vicarious Liability is a legal concept that means a party may be held responsible for injury or damage even when he or she was not actively involved in the incident.
For example: An employer can be held responsible if an employee operates equipment or machinery in a negligent or inappropriate way which results in damages to property or personal injury.
A Gantt chart is a horizontal bar chart that shows each work activity on a separate line with the bar placed from the early start date to the early finish date for each activity on a timescale.
1. True
2. False
Answer: True
Explanation: Gantt charts are normally built by applying an early start time strategy, where every work is organized to start shortly after the requirements are finished. This increases the quantity of time that a task can be delayed without resulting in a delay to the following tasks and the total work finished date. However, it records the works to be conducted on the vertical line and time on the horizontal line.
Any attempt to verify outcomes and to compare them with standards can be considered a(n) _____ activity, although many smaller firms do not use this word.
Answer:
The correct answer is: auditing,
Explanation:
Procedure whose purpose is to examine the annual accounts of a company to determine if they reflect the faithful image of the company's situation and if they have been presented in accordance with generally accepted accounting principles. The accounting review can be performed by people who are part of the company itself or, on the contrary, by people outside it. Sometimes this term is used as an audit synonym. However, the purpose of the accounting review does not have to be the issuance of a professional opinion as in the case of the latter.
Manx Corporation transfers 40% of its stock and $50,000 in cash to Somali Corporation for $500,000 of assets and all $200,000 of its liabilities. Somali exchanges the Manx stock, cash, and its remaining $100,000 of assets with its shareholders for all their Somali stock. After the exchange, Somali liquidates. The exchange qualifies as what type of transaction
Answer:
Type A reorganization
Explanation:
A type A reorganization can be classified as a merger or a consolidation. It is a type of tax free reorganization, where the acquiring company includes stocks and cash to purchase the assets of the acquired company. This type of transactions occur in a consensual basis between the companies.
In an economy where net exports are zero, if saving rises in some period, then in that perioda.consumption rises and investment falls. b.consumption and investment fall. c.consumption falls and investment rises. d.consumption rises and investment falls.
Answer:
c. consumption falls and investment rises
Explanation:
As there is a net drop in the net exports of the economy to near zero and the saving rises then the consumption will fall and there will be a rose in the investments. It also is called as a closed economy and this also affects the net imports that remain in a negative number. And is direct contracts to the ope economy were the trade takes place to form the marginal exchange.An increase in output leads to a(n): Group of answer choices decrease in step cost. increase in total variable cost. increase in total fixed cost. decrease in sunk cost.
Answer:
increase in total variable cost.
Explanation:
Variable costs change depending on the company's total output. If the output decreases, the variable costs will decrease, if the output increases, the variable costs will increase, e.g. materials. On the other hand, fixed costs do not vary depending on the company's output, that is why they are fixed, e.g. rent, depreciation.
Pepsi True is a new cola from Pepsi-Cola that is sweetened with a combination of sugar and stevia leaf extract, resulting in a soft drink with the same flavor of Pepsi but only 60 calories. A potential showstopper for this product is likely to be
Answer:
mid-calorie soft drinks such as Pepsi Next (2012) have not been successful in the past.
Explanation:
The new Pespsi true is a great product that offers the advantage of having the same flavor as Pepsi but lower calorie content of only 60 calories. This should sell well with consumers that are looking for lower calorie options.
However if there was a similar product like Pepsi True called Pepsi Next in 2012 that was mid-calories and was not successful, this could be a show stopper. People's perceptions of Pepsi Next will affect Pepsi True as they will feel it is just a repackaged Pepsi Next.
This will most likely lead to failure of the product similar to what happened with Pepsi Next.
A potential showstopper for Pepsi True is the bitter or licorice-like aftertaste of stevia when used in high concentrations. Some consumers might prefer the taste of regular Pepsi sweetened with sugar, and there may be skepticism about the safety of artificial sweeteners.
Explanation:A potential showstopper for Pepsi True is likely to be the bitter or licorice-like aftertaste of stevia when used in high concentrations. Stevia, a sweetener derived from the leaves of the stevia plant, has a slower onset and longer duration of taste compared to sugar. Some people may find this aftertaste unpleasant, which could be a potential drawback for the product. Additionally, although Pepsi True has only 60 calories, some consumers might prefer the taste of regular Pepsi sweetened with sugar. While the combination of sugar and stevia leaf extract provides the flavor of Pepsi, it may not be identical to the original taste due to the differences in sweetness profiles of these two sweeteners.
Lastly, some consumers may be skeptical about the safety of artificial sweeteners like stevia. While steviol glycosides in stevia are generally recognized as safe and have been approved for use by regulatory bodies, individual perceptions and concerns about artificial sweeteners can impact the acceptance and success of products like Pepsi True.
Learn more about showstopper here:https://brainly.com/question/24838403
#SPJ12
The operations of Smits Corporation are divided into the Child Division and the Jackson Division. Projections for the next year are as follows:
Child
Division Jackson
Division
Total
Sales revenue $250,000 $180,000 $430,000
Variable expenses 90,000 100,000 190,000
Contribution margin $160,000 $80,000 $240,000
Direct fixed expenses 75,000 62,500 137,500
Segment margin $85,000 $17,500 $102,500
Allocated common costs 35,000 27,500 62,500
Total relevant benefit (loss) $50,000 $(10,000) $40,000
Answer:
Operating income for the Smith's corporation as a whole if the Jackson's division were dropped is $22,500
Explanation:
The operations of Smith's Corporation are divided into the Child Division and the Jackson Division. Projections for the next year are as follows:
Child Division Jackson Division Total
Sales revenue $250,000 $180,000 $430,000
Variable expenses 90,000 100,000 190,000
Contribution margin $160,000 $80,000 $240,000
Direct fixed expenses 75,000 62,500 137,500
Segment margin $85,000 $17,500 $102,500
Allocated common costs 35,000 27,500 62,500
Total relevant benefit $50,000 $(10,000) $40,000
Operating income for the Smith's corporation as a whole if the Jackson's division were dropped
Child Division
Sales revenue $250,000
Variable expenses 90,000
Contribution margin $160,000
Direct fixed expenses 75,000
Segment margin $85,000
Allocated common costs 62,500
Total relevant benefit $22,500
Note that common fixed costs will be borne by the child division alone when the Jackson division is closed which is the entire 62,500 is deducted from the sales margin of child division before arriving at profit
Which of the following practices are not considered essential for a comprehensive JIT implementation: Uniform production (also known as heijunka) Quick set times, Large lot sizes, Short lead times. A. True B. False
Answer:
B. False ( "Large lot sizes" is not considered essential for JIT )
Explanation:
Just in time is an arrangement and alignment of raw material supply with the production process of the business. It minimizes the holding cost, lead time required for delivery of raw material, the setup times and sizes of orders.
The Large lot sizes is not a characteristics of JIT because it may requires the storage facility to place the large orders until used in production which might increase the holding cost.
So, Large Lot Sizes are not considered essential for a comprehensive JIT implementation.
Assume Karen is 12 years old and her only income is $2,500 of interest income from a bank account with money her parents have given her to save for college. What are the options Karen has for filing her tax return?
Answer:
Since Karen is a minor, she can receive up to $950 in unearned income per year without paying taxes or having to file a tax return.
Since she receives a larger amount $2,500 - $950 = $1,550, she must pay taxes for the extra amount depending on which type of account her parents opened for her.
Karen's parents probably opened a 529 Education Savings Plan, and if that is the case, she doesn't need to pay any federal taxes. If Karen's parents opened her a custodial account, then she will have to pay taxes for the $1,550 above the $950 threshold. Minors are responsible for filing their own taxes or their parents can file taxes for them. If either Karen or her parents pay taxes, they should pay = $1,550 x 10% = $155Sportware, a leading shoe manufacturer, markets sneakers under the brand name "Athletix" and dress shoes under the brand name "Cameo" in order to target the two different market segments. What branding strategy is most likely being used by Sportware?A) brand extensions
B) line extensions
C) multibrands
D) new brands
E) co-brands
Answer:
C) Multibrands
Explanation:
Multibrands is one of the branding strategy used by a company under which a company deals in multiple products with different brand names so as to capture a wide market by putting an end to the competition.
In such a case Sportware a leading shoe manufacturer , sells its two different types of products that is sneakers and dress shoes by two different brand names just in order to capture a wide range of the market thereby proving that it is following multibrand strategy.
A gas company in Massachusetts charges $1.30 for 15 ft3 of natural gas (CH4) measured at 20°C and 1.0 atm. Calculate the cost of heating 200 mL of water (enough to make a cup of coffee or tea) from 20°C to 100°C. Assume that only 50 percent of the heat generated by the combustion is used to heat the water; the rest of the heat is lost to the surroundings.
Answer:
$0.0224
Explanation:
First, determine the amount of heat required to raise the temperature of 450 mL water from 20°C to 100°C.
density of water = 1 g/mL
Use = AH = m(AT)Cp
AH (delta H) = amount of heat required
m = mass of water = 450 mL: (1g/mL) = 450 g
AT(delta T) = temperature difference = 100 - 20 = 80 °C
Cp = specific heat of water (from a table) = 4.18 J/g °C
So,
AH = 450 (80) (4.18) = 150 480 J = 150.48 kJ
Second, determine the heat ACTUALLY required
Since 50 % of heat produced (from combustion of methane) are used for water,
heat ACTUALLY required = 2 x 150.48 kJ = 300.96 kJ
Third, determine the amount of methane in the supply (in mole)
Assume ideal gas,
PV = nRT
P = 1.0 atm
V = 17 ft3 = 481.38 L
T = 20 + 273 = 293 K
R = 0.082 1 L atm K−1 mol−1
n = PV/RT
so,
n = (1 x 481.38)/(293 x 0.0821) = 20.011 mol
Interpretation: 17 ft3 of methane supplied is equivalent to 20.011 mol methane (17 ft3/20.011 mol)
Fourth, determine the heat produced from combustion of methane
The combustion of methane gas is represented by the reaction:
CH4 (g) + 2 O2 (g) CO2 (g) + 2 H2O (g)
heat of combustion =
[heat of formation of CO2 (g) + 2 x heat of formation of H2O (g)] -
[heat of formation of CH4 (g) + 2 x heat of formation of O2 (g)]
From the standard table:
= [ -393.5 kJ + 2x(-241.8 kJ)] - [-74.8 kJ + 2x(0 kJ)]
= - 802.3 kJ
Interpretation: The combustion of 1 mole of methane produces 802.3 kJ, otherwise known as molar enthalpy (-802.3 kJ/mol)
Fifth, determine the amount of methane required from energy requirement for heating water
heat required = 300.96 kJ
So,
methane required = 300.96 kJ (1mol/ 802.3 kJ) = 0.3751 mol
Sixth, determine the volume of methane required
Volume methane required = 0.3751 mol (17 ft3/20.011 mol)
= 0.3186 ft3
Finally, the cost required at price rate $1.20/17 ft3
Cost of methane = 0.3186 ft3 ($1.20/17 ft3) =
$0.0224
Under the USA PATRIOT Act, the Federal Bureau of Investigation (FBI) may now search private records (financial, medical, library, student—any recorded activity) without a warrant and probable cause and without having to reveal to anyone what it has done. This is referred to as what type of search?
Answer:
Sneak and peek searches
Explanation:
A sneak and peek search warrant is a search warrant
authorizing the law enforcement officers executing it to effect physical entry into private premises without the owner’s or the occupant’s permission or knowledge and to clandestinely search the premises; usually, such entry requires a stealthy breaking and entering. It was established in section 213 of the Patriot act mostly to investigate and prevent future terrorist attacks “without tipping off the terrorists.
When Mr. Lakely, a recruiter for United Health, calls job applicant Leanne Pufall to schedule a second-round interview, he reaches Leanne’s voice mail, which has an offensive joke message. A. Leanne’s message is professional. B. Leanne’s message is unprofessional.
Answer:
B. Leanne’s message is unprofessional.
Explanation:
When setting up a voice mail it should be professional because it could create an impression of the type of person you are and if you inculcate professional values.
Ideally voice mails should state ones name and give a brief instruction on how to leave a message. This will give impression to the caller that one is organised and efficient.
However when voice mail contains offensive content, background music, and other odd sounds it gives impression of disorderliness and a person that cannot take responsibility.
In the office supply store, Brittany bought 17 pens of three kinds: ball pens, gel pens, and ink pens, which cost $0.05, $0.10 and $0.25 each. The total that Brittany paid was $2.05. If Brittany bought twice as many gel pens as ink pens, how many ball pens did she buy?
Answer:
5 ball pens
Explanation:
Let's first assign our variables:
x = number of ball pens = 0.05 each
y = number of gel pens = 0.10 each
z = number of ink pens = 0.25 each
We have three equations there:
She bought 17 pens so this means that if we add all the number of pens together we get 17.
The total cost is $2.05, so if we add the cost of the all the pens we would get $2.05.
Lastly, we know that she bought twice as many gel pens as ink pens.
We can then assume:
x + y + z = 17
0.05x + 0.10y + 0.25 z = 2.05
y = 2z
we will need to use all of these to figure out the number of ball pens:
x + y + z = 17
Substitute the equation we came up for y (y = 2z):
x + 2z + z = 17
x + 3z = 17
x = 17 - 3z
--------------------------
0.05x + 0.10y + 0.25 z = 2.05
0.05x + 0.10(2z) + 0.25z = 2.05
0.05(17-3z) + 0.20z + 0.25z = 2.05
0.85 - 0.15z + 0.20z + 0.25z = 2.05
Combine like terms:
0.85 + 0.3z = 2.05
Subtract both sides by 0.85
0.85 + 0.3z - 0.85 = 2.05 - 0.85
0.3z = 1.2
Divide both sides by 0.3
0.3z/0.3 = 1.2/0.3
z = 4
Now that we have the number of ink pens, let's solve the number of ball pens using one of the formulas we came up with.
x = 17 - 3z
x = 17 - 3(4)
x = 17 - 12
x = 5
If you want to check, just plug in everything that we know.
y = 2x
y = 2(4)
y = 8
---------
5 + 8 + 4 = 17
17 = 17
Answer:
Down below
Explanation:
Selena fractures the radial bone in her forearm. Her surgeon advises her to undergo a surgery in which a steel plate would be inserted to support the bone. He explains to her that after the surgery there would be only a 70 percent chance of regaining complete movement in the arm and a 30 percent chance of completely losing arm functionality. Selena decides to proceed with the surgery. In this scenario, Selena’s decision making process is an example of
Answer:
Decision making under risk
Explanation:
The reason is that Selena faces one of its biggest risks which is that if she will proceed with the surgery then she might loose her arm. Loosing arm is the risk here. Remember that risk is vulnerability of undesired outcome and which can be measured. And here the risk is the undesired outcome of loosing arm which is measureable in percentage. The chances of loosing arm is 30% and taking decision to proceed with taking this risk of loosing arm is "Decision making under risk".
A price index one year was 145, and the next year it was 167. What is the approximate percentage change in the price level from one year to the next as measured by that index
Answer:
Approximately 15%
Explanation:
Given that
Base index = 145
New index = 167
% change in price level = (new index - base index/base index) × 100
Therefore,
% change = (167 - 145/ 145) × 100
= (22/145) × 100
= 0.1517 × 100
= 15.17 %
Thus, there is Approximately 15% increase in price level.
Note: general increases in price is called inflation and decreases in price level is called deflation.
The approximate percentage change in the price level from one year to the next as measured by that price index is 15.17%.
Explanation:The percentage change in price level from one year to the next can be calculated using the formula for percentage change: ((New Value - Old Value) / Old Value) * 100%. In this case, the old value is the initial price index of 145, and the new value is the final price index of 167. Substituting these values into the formula gives: ((167 - 145) / 145) * 100% = 15.17%. So, the approximate percentage change in the price level from one year to the next as measured by that index is 15.17%.
Learn more about Percentage Change here:https://brainly.com/question/35855541
#SPJ3
The members of a cross-functional team have an informal agreement that whenever a team member goes out of town on business, that team member will leave a phone number where he or she can be reached. This arrangement is known as a ________.
Answer: Group team
Explanation:
Group is a collection of persons who coordinate their individual efforts.
Team is a group of people who share common interests,aims, objectives and a number of challenging goals. Members of the team are mutually committed to achieving the goals set for each other. Each individual must be committed in order to creates joint accountability which creates a strong bond and a strong motivation to perform task.
Purpose and goals are important elements to build a team.
The purpose must be worthwhile and create a sense of doing something important together as a group. The goals must be challenging and specific so that each member can understand how they contribute to the success of the team.
What is the maximum fine for a willful or repeat OSHA violation? a. up to $12,600 per day b. up to 10% above $126,000 c. $70,000 d. up to $12,000 per violation
Answer:
C) $70,000
Explanation:
The US Department of Labor has established a range of fines that can be imposed on an employer who willfully or repeatedly violates any OSHA requirement, standard, rule or order. This range of fines starts with a minimum of $5,000 and up to a maximum of $70,000.
Assume that a one-year CD purchased for $1000 pays an APR of 10% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.)
Answer:
At the end of the first compounding period: $1,050.00At the end of the second compounding period: $1,102.50
Explanation:
1. First period:
Investment: $1,000 APR = 10% = 0.1 compounded semi-annually. Semi-annually compound interest: 0.1 / 2 = 0.05Interest earned at the end of the first period: $1,000 × 0.05 = $50.00Amount in the accoun at the end of the first period:$1,000.00 + $50.00 = $1,050.00
2. Second period
Amount in the account beginning the second period: $1,050.00Semi-annually compound interest: 0.1 / 2 = 0.05Interest earned in the second period:$1,050.00 × 0.05 = $50.00 = $52.50
Amount in the account at the end of the second period:$1,050.00 + $52.50 = $1,102.50
For a one-year CD with an APR of 10%, compounded semi-annually, the balance in the account at the end of each compounding period is calculated by dividing the APR by 2 (to get the interest rate per compounding period), then applying this rate to the principal (and any previously accrued interest) at each period. The total balance at the end of the year is $1102.50
Explanation:
The question is asking about the interest accrued from a one-year CD with an APR of 10%, compounded semi-annually. The first step is to divide the APR by the number of compounding periods, which in this case is 2, giving a rate per period of 5%. Then we calculate the interest for each period.
For the first period, the calculation is $1000 x 0.05 = $50, thus the total balance after the first period (6 months) is $1050. The second period calculates the interest on this new balance. So for the second period, the calculation is $1050 x 0.05 = $52.50. Therefore, at the end of the year, the balance in the account is $1050 + $52.50 = $1102.50.
Learn more about compound interest here:https://brainly.com/question/14295570
#SPJ3
A broker-dealer is looking to expand its business. In an attempt to lure the business of a prominent local investment adviser representative (IAR), it offers the IAR several of its services allowing them to be paid for by soft dollars. Which of the following would be an inappropriate soft dollar arrangement?
[A] The offer of market quotes performed in real time
[B] The offer of the use of asset allocation software that has been customized for the application
[C] The offer of subscriptions to the broker-dealer's research reports
[D] The offer of paying the salary for the services of an analyst from the research department.
Answer:
The correct option is D
Explanation:
Soft dollars refers to payments made by mutual funds as well as other managers to their service providers. Instead of payment by hard currency the mutual fund will pay in kind by passing on business to the brokerage.
Gina changes the amount of milk she purchases depending on whether it costs $1,$1.50, or $1.75 a pound. What other information do we need to come up with her demand curve for milk
Answer: how much butter she buys at each price point.
Explanation: The demand curve shows how much a person chooses to buy at different prices. In order to graph the curve, we need to know how much butter Jenna buys when it costs $1, $1.50, and $1.75.
Final answer:
To create Gina's demand curve for milk, we need to know the quantities she purchases at various prices. Understanding her price elasticity of demand and how quantity demanded changes with price is essential. We also need to factor in any broader market conditions or personal factors that might shift her entire demand curve.
Explanation:
To come up with Gina's demand curve for milk, we need to know the quantities of milk she purchases at each price point. Gina's behavior, where the quantity she demands changes with price, reflects the concept of the price elasticity of demand, which measures the responsiveness of the quantity demanded to a change in price. Consider the price elasticity of demand for gasoline. When the price increased from $4.00 to $4.25 per gallon, the quantity demanded decreased, illustrating a movement along the demand curve. Similarly, for Gina's demand for milk, we need to know the specific quantities she is willing to buy at the given prices of $1, $1.50, and $1.75 to plot her demand curve. Furthermore, the demand curve can be seen as a marginal benefit curve, indicating the maximum amount consumers are willing to pay for an additional unit. In the case of the ice cream bar example, reducing the price leads to a higher quantity sold, and increasing the price leads to a lesser quantity sold, which directly affects the shape and slope of the demand curve. To complete the curve for Gina, we need the quantity of milk she would purchase at varying price levels beyond the ones mentioned. This data will help us determine the slope of her demand curve and her sensitivity to price changes. If other factors influence Gina's purchase quantity, such as income effects or substitution effects as shown in the apple example, we also need that information. Additionally, changes in market conditions, such as the rising price of milk leading to decreased supply or health studies affecting demand, can shift the entire demand curve. These scenarios would also have to be considered if they apply to Gina's situation.
In 2020, Pharoah Company reported a discontinued operations loss of $1120000, net of tax. It declared and paid preferred stock dividends of $110000 and common stock dividends of $370000. During 2020, Pharoah had a weighted average of 500000 common shares outstanding. As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by
As a result of the discontinued operations loss, net of tax, the earnings per share would decrease by $2.24.
Explanation:
Change in EPS
= $1120000 ÷ 500000 outstanding shares
= $2.24.
Carol sold 50% of her business to her mother. The resulting partnership had income of $200,000. Capital is a material income-producing factor. Carol performed services worth $90,000, which is reasonable compensation, and her mother performed no services. What is the maximum amount of income Carol’s mother can report from the partnership for the tax year?
Answer:
$55,000
Explanation:
The partnership's income = $200,000
To determine what each partner should receive we must subtract carol's compensation for her work $90,000:
partnership's net income = $200,000 - $90,000 = $110,000
then we divide the net income by 2 = $110,000 / 2 = $55,000
Garrison Co. produces three products — X, Y, and Z — from a joint process. Each product may be sold at the split-off point or processed further. Additional processing requires no special facilities, and production costs of further processing are entirely variable and traceable to the products involved. Last year all three products were processed beyond split-off. Joint production costs for the year were $120,000. Sales values and costs needed to evaluate Garrison's production policy follow. Units Sales Value at If Processed Further Product Produced Split Off Sales Value Additional Costs x 6,000 $ 40,000 $ 80,000 $ 1,200 y 3,000 15,000 40,000 3,000 z 1,000 16,000 30,000 1,500 The amount of joint costs allocated to product X using the net realizable value method is (calculate all ratios and percentages to 4 decimal places, for example 33.3333%, and round all dollar amounts to the nearest whole dollar):
Solution:
X Y Z Total
Units Sold 6,000 3,000 1,000 10,000
Price (after addt’l processing)
Separable Processing cost $1,200 $3,000 $1,500 $5,700
Units Produced 6,000 3,000 1,000 10,000
Total Joint Cost $120,000
Sales Price at Split-off
Sales Value
(after addt’l processing) $80,000 $40,000 $30,000 $150,000
Sales Value at Split Off $40,000 $15,000 $16,000 $71,000
Physical Measure Method
XYZTotal
Units of Production 6,000 3,000 1,000 10,000
Percent of Total 60,0000% 30,0000% 10,0000% 100,0000%
Joint Cost Allocation $72,000 $36,000 $12,000 $120,000
Final answer:
The amount of joint costs allocated to product X using the net realizable value method is $71,874.
Explanation:
The amount of joint costs allocated to product X using the net realizable value method can be calculated as follows:
Calculate the net realizable value (NRV) for each product by subtracting the additional costs from the sales value if processed further.Calculate the total NRV for all three products (X, Y, and Z).Allocate the joint costs to each product based on their proportion of the total NRV.
For product X, the NRV is $80,000 - $1,200 = $78,800. The total NRV for all three products is $78,800 + $39,000 + $14,500 = $132,300.
Therefore, the amount of joint costs allocated to product X is ($78,800 / $132,300) * $120,000 = $71,874.44 (rounded to the nearest whole dollar).
Economic efficiency is defined as a market outcome in which the marginal benefit to consumers of the last unit produced is equal to the marginal cost of​ production. True or False
Answer: true
Explanation:
Economic efficiency implies an economic state in which every resource is optimally allocated to serve each individual in the best way while minimizing waste and inefficiency.
The company decided to discontinue an operating division during 2018 and sold the assets on December 15, 2018. Loss from operations of the division were $500,000 for the year through 12/15/2018. The assets were sold for $800,000 and had a net book value of $1,000,000. The effective income tax rate if 40%. Income from continuing operations after taxes was $2,000,000. Calculate net income and prepare the income statement starting with income from continuing operations.
Answer: Please refer to the explanation section
Explanation:
Loss from operations = $500 000
Loss (sale of assets) = $1000 000 - $800 000 = $200 000
Income from continuing operations after tax = $2000 000, Therefore income from continuing operations before tax is equal to $200 000 x 100/60 = 3 333 333.333
Net Income before tax = 3 333 333.333 - 500 000 - 200 000
Net Income before tax == 2633 333.333
Net Income After Tax = 2633 333.333 x 60/100 = $1580 000
Income Statement
Income from continuing operations 3 333 333.333
Loss from operations - 500 000
Loss from sale of assets - 200 000
Net Income before Tax 2633 333.333
Taxation -1053 333.333
Net Income 1580 000
Which of the following is true?a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals.b. Unanticipated inflation is a change in the price level that is widely expected.c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy.d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.
Answer:Answer:
C) Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy
Explanation:
Inflation from definition: Inflation is the persistent rise in the general price of good and services. So one of the factors that can help anticipate and manage inflation is:
Money Supply and Inflation
The quantity theory of money means that as money supply is increases it will lead to increase in inflation. This is because of the correlation between money supply and inflation, illustrated in the equation MV=PT where V and T are autonomous of the Money Supply. Nevertheless, in practise empirical evidence has shown that increased money supply doesn’t certainly cause inflation, as there are other components differentiating money supply and inflation.
But the answer that decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy is because with the money slow level, they can anticipate and manage inflation