Answer:
7,000 units
Explanation:
The units which were transferred to the Finished goods inventory during the month of February is computed as:
Units transferred to Finished goods inventory = Started units during February + Started the month with units in process - Ended the month with units in process
where
Started units during February is 6,700
Started the month with units in process is 890
Ended the month with units in process is 590
Putting the values above:
Units transferred to Finished goods inventory = 6,700 + 890 - 590
Units transferred to Finished goods inventory = 7,590 - 590
Units transferred to Finished goods inventory = 7,000
During February, Phantom Corporation transferred 6,880 units to the Finished Goods Inventory after considering the work in process at the beginning and the end of the month and the number of units started.
Explanation:To calculate the number of units transferred to the Finished Goods Inventory by Phantom Corporation during February, we need to account for the work in process (WIP) at the beginning and the end of the month, as well as the number of units that were started and completed during the month.
At the start of the month, there were 890 units in process that were 40% complete. This means that 60% of the work was still required to complete these units. During the month, Phantom started an additional 6,700 units. By the end of the month, there were 590 units still in process and at the same 40% completion level. Thus, also for these units, 60% of the work is required for completion.
To find the number of units completed during the month we need to perform the following steps:
Calculate the equivalent units for beginning WIP: 890 units * 60% = 534 units.Calculate the equivalent units for ending WIP: 590 units * 60% = 354 units.Add the equivalent units for beginning WIP to the units started during the month and then subtract the equivalent units for ending WIP: 534 units + 6,700 units - 354 units.Therefore, the number of units transferred to the Finished Goods Inventory is:
534 units + 6,700 units - 354 units = 6,880 units.
So, during February, Phantom Corporation transferred 6,880 units to the Finished Goods Inventory.
Justin Cement Company has had the following pattern of earnings per share over the last five years: Year Earnings per Share 20X1 $ 4.00 20X2 4.24 20X3 4.49 20X4 4.76 20X5 5.05 The earnings per share have grown at a constant rate (on a rounded basis) and will continue to do so in the future. Dividends represent 40 percent of earnings.
a. Project earnings and dividends for the next year (20X6).
b. If the required rate of return (Ke) is 13 percent, what is the anticipated stock price (P0) at the beginning of 20X6?
Answer:
(a) $5.353; $2.1412
(b) $30.59
Explanation:
Given that,
Year Earnings per Share
20X1 $4.00
20X2 $4.24
20X3 $4.49
20X4 $4.76
20X5 $5.05
Dividends = 40 percent of earnings
Constant growth rate for earnings:
= [tex]\frac{EPS\ for\ any\ year}{EPS\ for\ the\ previous\ year} - 1[/tex]
= [tex]\frac{4.24}{4} - 1[/tex]
= 1.06 - 1
= 0.06 or 6%
(a) EPS for 20X6:
= EPS for 20X5 × (1 + 6%)
= $5.05 × 1.06
= $5.353
Dividend for 20X6:
= 40% × EPS for 20X6
= 40% × $5.353
= $2.1412
(b) Given that,
Required rate of return (Ke) = 13 percent
Stock Price at the beginning of 20X6:
[tex]=\frac{Dividend\ for\ 20X6}{(Required\ rate\ of\ return - Constant\ growth\ rate)}[/tex]
[tex]=\frac{2.1412}{(0.13 - 0.06)}[/tex]
= $30.59
A landscaping company accepts MasterCard as payment for $1,000 worth of services. MasterCard charges a service fee of 2 percent. Which of the following would be recorded by the store? Multiple Choice Debit $20 to Service Fee Expense Debit $1,000 to Cash Credit $980 to Service Revenue Credit $980 to Cash
Answer:
Dr Cash 1020
Cr Service revenue 1000
Cr Service fee 20
Explanation:
Service fee is expense of individual who is purchasing not store's expense.
- Total cash received by store is $ 1020 because 2% is service charges by master card,its is income of master card not store so store will treat as liability.
The only revenue of store is $1000.
The newspaper reported last week that Bennington Enterprises earned $28 million this year. The report also stated that the firm�s return on equity is 15 percent. Bennington retains 70 percent of its earnings.
Required:
(a)
What is the firm's earnings growth rate?
(b)
What will firm's next year's earnings be?
Answer: a). Firm's growth rate = 10.5%
b). Next year's earnings = $30,940,000.00
Explanation: Earnings growth rate is the percentage change in earnings given specific variables.
The firm's earnings growth rate g = Return on equity (ROE) × Retained earnings (b) = 0.15(0.70)
g =0.105 or 10.5%
In finding next year's earnings, we multiply the current earnings times one plus the growth rate.
Next year's earnings = Current earnings(1 + g)
Next year's earnings = 28,000,000(1 + 0.105)
Next year's earnings = $30,940,000.00
Answer:
The firm's earnings growth rate is 10.5%
Firm next year's earnings is $30.94 million
Explanation:
The formula for earnings growth rate is given as returns on equity multiplied by retained earnings
return on equity is given as 15%
retained earnings =$28 million *70%
Retained earnings=$19.6 million
Earnings growth rate=70%*15%
Earnings growth rate =10.50%
Firm next year's earnings =this year earnings*(1+earnings growth rate)
Firm next year's earnings =$28m*(1+0.105)
=$30.94 million
Retained earnings next year could be computed $30.94*70%=$21.66 million
Since the earnings next year is believed to increase to $30.94 million, it implies that even though the payout as dividends is not increasing in percentage terms but increasing in dollar terms
During December, Krause Chemical Company had the following selected data concerning the manufacture of Xyzine, an industrial cleaner: Production Flow Physical Units Completed and transferred to the next department 100 Add: Ending work in process inventory 10 (40% complete as to conversion) Total units to account for 110 Less: Beginning work in process inventory 20 (60% complete as to conversion) Units started during December 90 All materials are added at the beginning of processing in this department, and conversion costs are added uniformly during the process. The beginning work in process inventory had $120 of raw materials and $180 of conversion costs incurred. Materials added during December were $540, and conversion costs of $1,484 were incurred. Krause uses the first-in, first-out (FIFO) process cost method. The equivalent units of production used to compute conversion costs for December were: a.110 units. b.104 units. c.100 units. d.92 units.
Answer:
d.92 units.
Explanation:
Completed untis +
complete portion of ending WIP less
complete portion of beginning WIP
Completed and trasnferred 100
ending work in process_ 10 units x 40% = 4 units
beginning inventory 20 units x 60% complete (12) units
Equivalent Units for conversion 92
Final answer:
To calculate the equivalent units of production for conversion costs under the FIFO method, consider only the units completed and transferred and the ending work in process inventory, leading to a total of 104 equivalent units.
Explanation:
To find the equivalent units of production for conversion costs in December under the FIFO method, let's break down the process step-by-step.
First, determine the units completed and transferred, which are 100 units; these would have been 100% completed in terms of conversion during December.Next, consider the ending work in process inventory, which is 10 units at 40% completion. This adds up to 4 equivalent units for conversion costs.The beginning inventory was 20 units at 60% completion. Since we are using the FIFO method, these units had their conversion costs from the previous period, and only the work done on the other units during December matters. This means the beginning inventory doesn’t add to December’s calculation for equivalent units regarding conversion costs.Therefore, the equivalent units of production for conversion costs are the 100 units completed and transferred plus the 4 equivalent units from the ending inventory, which totals to 104 units.The correct answer is b. 104 units.
Compare the way a multinational firm organizes the marketing research effort with the way a global or transnational firm approaches the organizing issue.
Answer:
Multinational firm operates in many countries and in all those countries, it organizes marketing research the same way as it has a centralized system in one head office country. Marketing research is done through a one system central approach and decisions are taken by the head office or parent.
Transnational firm operates in many states but without a central system and marketing research relates to a single unique market environment so each firm in each country has its own market research.
Explanation:
There are different ways in organizing research. The Multinational approach often adopt a very flexible way to their international services or operations through the act of;
Modifying their productsUsing strategies, andGood management practices in country by country.when compare to the Transnational approach, the is one approach that all companies loves. The aim or approach is to emerge as a companies so as to be responsive to local needs even when handling the benefits of global efficiency. It uses Translational Strategic Mentality. They aim to excel in global chess and be in charge of their game.
There are different ways in organizing research. the way a multinational firm organizes the marketing research effort are;
The firms often Locate and Define the various Issues or Problems that is before them. They do set up or design the Market Research Project. Firms Collect Data relating to the project Interpretation of the Research Data as soon as possibleThe Report Research Findings to the firm.Learn more about multinational firm from
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1. The ceteris paribus assumptions means: a. favors are returned in kind. b. this is proof of the matter. c. from many, one. d. other things are equal.
Answer:
The correct answer is letter "D": other things are equal.
Explanation:
"Ceteris paribus" is a phrase in Latin that means "other things held constant". The term is widely used in Economics mainly when talking about variables that could influence others but part of other variables remain constant allowing a phenomenon to happen. The phrase is mostly heard while applying the demand and supply law.
Answer:
d. other things are equal.
Explanation:
d is the correct answer
The natural and organic confectionary product category is currently in the ________ stage of the product life cycle as evidenced by increasing rate of sales growth, broadened distribution, and a proliferation of organic peanut butter cup flavors.
Options:
A. growth
B. maturity
C. decline
D. introduction
Answer: A. Growth
Explanation: A product lifecycle is a term used to describe the overall steps which a product undergo before eventual withdrawal from the market.
The product lifecycle is made of the following stages
(1) Product initiation stage where the product is just being made available to the market.
(2) PRODUCT GROWTH STAGE WHERE THE PRODUCT IS EXPERIENCING EXPONENTIAL GROWTH, AND BROADENED DISTRIBUTION WITH HIGH PROFITABILITY ETC
The product stabilisation stage where the growth or development of the product is stable especially because of the introduction of several other competitors.
The the product decline stage where the product's sales is dropping and no longer profitable etc.
Zach wants to take his family on a cruise in 4 years and he estimates the cost of the cruise will be $16,500. How much money should he deposit each month into an account that pays 3.99% monthly in order to have the needed money?
Answer:
$118.83 per month that Zach must save.
Explanation:
This is a future value annuity as we know the cruise will cost $16500 in 4 years time as estimated by Zach for the cruise.
Fv is the future value for the annuity which is $16500
we also have i the interest rate which is 3.99% monthly
n is the number of periods in which the monthly amount is saved 4 x 12 =48
now we will substitute to the following formula and solve for C the monthly payments that Zach saves for the cruise:
Fv =C [((1+i)^n -1)/ i] now we substitute
$16500 = C[((1+3.99%)^48 -1)/3.99%)] then solve for C
$16500/[(1+3.99%)^48 -1)/3.99%] = C
C = $118.83 that Zach must save per month for 4 years to afford the cruise.
The following information is available for Robstown Corporation for 20Y8:
Inventories January 1 December 31
Materials $352,000 $436,200
Work in process 632,000 590,800
Finished goods 606,200 574,000
December 31
Advertising expense $295,400
Depreciation expense-office equipment 43,800
Depreciation expense-factory equipment 56,340
Direct labor 669,400
Heat, light, and power-factory 22,220
Indirect labor 77,000
Materials purchased 659,200
Office salaries expense 185,300
Property taxes-factory 18,500
Property taxes-office building 31,600
Rent expense-factory 33,000
Sales 3,015,000
Sales salaries expense 418,000
Supplies-factory 15,200
Miscellaneous costs-factory 9,700
Required:
a. Prepare the 20Y8 statement of cost of goods manufactured.
b. Prepare the 20Y8 income statement.
Answer:
1. Cost of goods manufactured = $1,672,160
2. Net income = $336,540
Explanation:
Requirement 1
Robstown Corporation
statement of cost of goods manufactured
For the year ended 20Y8
Direct Materials
Beginning materials inventory $352,000
Add: Materials purchased $659,200
Materials available for use = 1,011,200
Less: Ending materials inventory = ($436,200)
Direct materials used = 575,000
Direct labor = 669,400
Prime cost = 1,244,400
Add: Factory overhead
Depreciation expense-factory equipment $56,340
Heat, light, and power-factory 22,220
Indirect labor 77,000
Property taxes-factory 18,500
Rent expense-factory 33,000
Supplies-factory 15,200
Miscellaneous costs-factory 9,700
Total factory overhead = 231,960
Manufacturing cost = $1,476,360
Add: Work in process, January 1 = $632,000
Less: Work in process, December 31 = ($436,200)
Cost of goods manufactured = $1,672,160
Requirement 2
Robstown Corporation
Income statement
For the year ended 20Y8
Sales 3,015,000
Less: Cost of goods sold (Note - 1) ($1,704,360)
Gross profit = $1,310,640
Less: Administrative and selling expense
Advertising expense $295,400
Depreciation expense-office equipment 43,800
Office salaries expense 185,300
Property taxes-office building 31,600
Sales salaries expense 418,000
Total cost $974,100
Net income = $336,540
(Note - 1) Cost of goods manufactured + Beginning finished goods - Ending finished goods = $1,672,160 + 606,200 - 574,000 = $1,704,360.
Final answer:
The student is provided with a step-by-step calculation of the Statement of Cost of Goods Manufactured and the Income Statement for Robstown Corporation for 20Y8. Direct materials, direct labor, and manufacturing overhead were calculated to determine the total cost of goods manufactured. These figures were then used to compute the cost of goods sold and, finally, the net income after accounting for operating expenses.
Explanation:
Statement of Cost of Goods Manufactured
Direct Materials:
Beg. Inventory Materials: $352,000
+ Materials Purchased: $659,200
= Materials Available for Use: $1,011,200
- Ending Inventory Materials: $436,200
= Materials Used: $575,000
Direct Labor: $669,400
Manufacturing Overhead:
Depreciation Expense-Factory Equipment: $56,340
Heat, Light, and Power-Factory: $22,220
Indirect Labor: $77,000
Supplies-Factory: $15,200
Miscellaneous Costs-Factory: $9,700
= Total Manufacturing Overhead: $180,460
Total Manufacturing Costs:
Materials Used: $575,000
+ Direct Labor: $669,400
+ Manufacturing Overhead: $180,460
= Total Manufacturing Costs: $1,424,860
+ Beg. Work in Process: $632,000
- Ending Work in Process: $590,800
= Total Cost of Goods Manufactured: $1,466,060
Income Statement for 20Y8
Sales: $3,015,000
Cost of Goods Sold:
Beg. Finished Goods: $606,200
+ Cost of Goods Manufactured: $1,466,060
= Goods Available for Sale: $2,072,260
- Ending Finished Goods: $574,000
= Cost of Goods Sold: $1,498,260
Gross Profit: Sales - Cost of Goods Sold
= $3,015,000 - $1,498,260
= $1,516,740
Operating Expenses:
Advertising Expense: $295,400
Depreciation Expense-Office Equipment: $43,800
Office Salaries Expense: $185,300
Property Taxes-Office Building: $31,600
Rent Expense-Factory: $33,000
Sales Salaries Expense: $418,000
= Total Operating Expenses: $1,007,100
Net Income: Gross Profit - Operating Expenses
= $1,516,740 - $1,007,100
= $509,640
The Burn Right company sells outdoor grills and fireplaces. It decided to focus its marketing on the single market segment of tailgaters. This allowed Burn Right to dive in deep and analyze the wants and needs of tailgaters. They discovered tailgaters’ ideal product features included quick startup, consistent heat, indication when fuel is low, a cool-to-touch handle, and easy portability. This marketing segmentation strategy Burn Right took is known as a:
A.) multisegment strategy
B.) diffused strategy
C.) concertration strategy
Answer:
c. concentration strategy
Explanation:
Concentration strategy -
It refers to the strategy in which the focus of the business is only on the single specific good or market , is referred to as the concentration strategy .
This strategy enables to concentrate most the knowledge and resources on a certain good , which is in demand or is helpful for the future profit .
The risk as well as profit margin is very high in this strategy .
Hence , from the given scenario of the question ,
The correct answer is c. concentration strategy .
Burn Right's marketing strategy is called a concentration strategy, which involves targeting a specific market segment and meeting their specific wants and needs.
Explanation:The marketing segmentation strategy that Burn Right took, which focuses on a single market segment, is known as a concentration strategy. This strategy involves targeting a specific group of customers and tailoring the company's products and marketing efforts to meet their specific wants and needs. By analyzing the wants and needs of tailgaters, Burn Right was able to identify the ideal product features and create a product that is attractive to this specific market segment.
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Company X has offices around the globe. Its teams are separated by time, geographic distance, culture and/or organizational boundaries, and almost rely exclusively on technology for interaction between team members. Its teams are _____________.
Answer:
The correct answer is letter "A": virtual teams.
Explanation:
Virtual teams are groups of people physically located in different regions that are part of the same organization or even the same department who interact with each other through online based mediums such as computers or mobile devices via corporate chats, e-mails, phone calls, or videoconferences.
Regardless of the differences in time and cultures, virtual teams work towards achieving a common goal.
Scott says about his employees, "They might not always make the choice that I would make. Sometimes they make a better one." From this statement, you can infer that Barcelona is:
a. A centralized organization
b. Best adapted to a very stable environment
c. An organization with little accountability
d. A decentralized organization
Answer:
Letter d is correct. A descentralized organization.
Explanation:
Through the information contained in this question, we can conclude that Barcelona is a decentralized organization.
This type of administration consists of a decision-making policy where the lowest hierarchical levels are also allowed to participate in important company decisions, so the power of decision-making is delegated to different levels in the organization and not just to the most senior positions. high in the organizational hierarchy.
Some advantages of decentralization include greater flexibility and autonomy for employees, greater skill development, increased innovation, motivation and teamwork.
What is the ROI of a project that requires investments of $500 in each of the first 3 years and yields an income of $120, $85, and $35 in each of the first 3 years?
Answer:
The ROI = 16%
Explanation:
The Return on investment or ROI is the ratio of the amount made as profit on an investment to the cost of the investment. It is the measure of the efficiency of an investment.
To calculate the ROI, we have to calculate the total benefits gotten on divide it by the total cost incurred in the investment. It is expressed in percentage
The formula is written as;
ROI = (present value of the investment - cost of the investment) ÷ cost of the investment
Remember that (present value of the investment - cost of the investment) is the benefit gotten on the amount invested;
current value of investment = $500 invested for each of the three years + $120 + $85 + $120
= $500 + $500 + $500 + $120 + $85 + $35 = $1,740
Cost of investment = $500 + $500 + $500 = ($1,500) because $500 was invested three times.
∴ ROI = (1,740 - 1500) ÷ 1500 = 240 ÷ 1500 = 0.16
converting to percentage, 0.16 = 16%.
Fern Corporation manufacturers a single product that has a selling price of $25.00 per unit. Fixed expenses total $33,000 per year, and the company must sell 5,500 units to break even. If the company has a target profit of $12,000, sales in units must be:
Answer:
7,500 units
Explanation:
Given that,
Selling price = $25 per unit
Fixed expenses = $33,000 per year
Break even units sell = 5,500 units
Target profit = $12,000
Total break- even sale in Dollar:
= Selling price × Break even units sell
= $25 × 5,500 units
= $137,500
Break- even Point = Fixed Costs ÷ Contribution Margin per Unit
Therefore,
Contribution Margin per unit:
= Fixed Costs ÷ Break-Even points
= $33,000 ÷ $137,500
= 0.24 per unit
Sales amount:
= (Fixed costs + Target profit) ÷ Contribution margin per unit
= ($33,000 + $12,000) ÷ 0.24
= $187,500
Sales in units = Sales in amount ÷ Selling price per unit
= $187,500 ÷ $25
= 7,500 units
Currently, Warren Industries can sell 20 dash year, $1 comma 000-par-value bonds paying annual interest at a 9% coupon rate. Because current market rates for similar bonds are just under 9%, Warren can sell its bonds for $980 each; Warren will incur flotation costs of $20 per bond. The firm is in the 28% tax bracket. a. Find the net proceeds from the sale of the bond, Upper N Subscript d. b. Calculate the bond's yield to maturity (YTM) to estimate the before-tax and after-tax costs of debt. c. Use the approximation formula to estimate the before-tax and after-tax costs of debt.
Answer:
a. Cash proceeds $960
b. Cost of Debt Before tax 9.4% and after tax 6.8%
c. Cost of Debt Before tax 9.39% and after tax 6.76%
Explanation:
a.
Cash proceed from the sale of bond is the net selling price and the floating cost of the bonds.
Cash proceed = Selling price - Floating cost = $980 - $20 = $960
b.
Yield to maturity is the annual rate of return that an investor receives if a bond bond is held until the maturity.
Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = [ $90 + ( $1,000 - $960 ) / 20 ] / [ ( $1,000 + $960 ) / 2 ]
Yield to maturity = 9.4%
Cost of debt before tax = 9.4%
Cost of debt after tax = 9.4% ( 1 - 0.28 ) = 6.8%
c.
Yield to maturity = [ C + ( F - P ) / n ] / [ (F + P ) / 2 ]
Yield to maturity = [ $90 + ( $1,000 - $960 ) / 20 ] / [ ( $1,000 + $960 ) / 2 ]
Yield to maturity = 9.39%
Cost of debt before tax = 9.39%
Cost of debt after tax = 9.19% ( 1 - 0.28 ) = 6.76%
Calculate the Kuznets Ratio for Bangladesh based on size distribution: The lowest 40% receives 17.3% of national income and the highest 20% receives 45.3%.
Answer:
Kuznets Ratio = 2.62
Explanation:
Kuznet Ratio = % share of income received by richest 20%
% share of income received by poorest 40%
Given : The lowest 40% receives 17.3% of national income and the highest 20% receives 45.3%.
So, Kuznets Ratio = 45.3 / 17.3
= 2.62
Raising an existing tariff on grapes from Argentina will: Group of answer choices increase domestic production of grapes. increase total American consumption of grapes. increase American consumption of domestically produced grapes. increase American imports of grapes from Argentina
Answer:
Raising an existing tariff on grapes from Argentina will increase domestic production of grapes, as well as increase American consumption of domestically produced grapes.
Explanation:
Tariffs are basically taxes established by the federal government, which are imposed on the importation of certain products produced abroad. These tariffs have the primary objective of discouraging the purchase of certain products from certain countries, either to promote local production or to limit trade with a specific country (for example, in the case of the trade war with China carried out by President Trump).
In the event that a tariff on Argentinian grapes is raised, this would increase the cost of importation, making it more viable for consumers to buy the grapes produced in the domestic market, which would boost the production of this fruit by part of the American producers, with which the market would begin to consume more quantity of grapes produced in the United States.
Raising an existing tariff on grapes from Argentina will increase domestic production of grapes, as well as increase American consumption of domestically produced grapes. The correct option is a and c.
Most countries' natural assets and capacity to produce certain products and services are limited. They trade with other countries to meet the needs and demands of their people. However, trade is not always conducted amicably between trading partners. Policies, geopolitics, competition, as well as a variety of other factors can irritate trading partners.
Tariffs are one way governments handle trading partners with whom they disagree. Tariffs are taxes levied by one country on goods and services imported to another country in order to influence it, raise revenue, or protect competitive advantages.
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Marshall Officer is a stockholder in Endrun Investments, which is organized as a C Corporation. Endrun recently lost a major court decision and will probably be forced into bankruptcy. In fact, the damages awarded are so great that, even if all of its assets are sold and the proceeds are used to pay its debts, Endrun is likely to still owe money to its creditors.
If Endrun does go bankrupt, Marshall and the other stockholders will:
A) be personally responsible for all remaining debts.
B) lose their investment but nothing else.
C) be entitled to full reimbursement of any investment losses.
D) automatically qualify for federal reimbursement for any losses suffered by the firm.
Answer:
B) lose their investment but nothing else.
Explanation:
When a company becomes bankrupt and its assets were unable to settle it's obligations as is the case of Endrum Investments, the shareholders lose the value they had in their shares.
A C corporation is one in which the business is a seperate entity from the shareholders. The shareholders are not liable for any action taken against the company.
In this instance since the shares are the assets of the company, they will be liquidated to settle the damages awarded in court. Shareholders are not liable for the extra debt owed by the business.
The following are budgeted data:
January February March
Sales in units 16,600 23,200 19,600
Production in units 19,600 20,600 19,300
One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 25% of the following month's production needs. Purchases of raw materials for February would be budgeted to be:
Garrison 16e Rechecks 2017-10-03
Multiple Choice
A.20,925 pounds
B.20,575 pounds
C.20,275 pounds
D.18,325 pounds
Answer:
Purchases of raw materials for February would be budgeted to be C.20,275 pounds
Explanation:
One pound of material is required for each finished unit.
The inventory of materials at the end of February = 25% x 19,300 = 4,825 pounds
The inventory of materials at the end of January = 25% x 20,600 = 5,150 pounds
The materials used to produce finished unit in February = 20,600 pounds.
Purchases of raw materials for February = The materials used to produce finished unit in February + The inventory of materials at the end of February - The inventory of materials at the end of January = 20,600 + 4,825 - 5,150 = 20,275 pounds
raffle is being held at a benefit concert. The prizes are awarded as follows: 1 grand prize of $6,600.00, 3 prizes of $800.00, 3 prize of $65.00, and 10 prizes of $20.00. Suppose 14500 raffle tickets are sold, if you buy one ticket for $1.00 then what is your expected value for this raffle?
Answer:
-0.352
Explanation:
Total number of raffle tickets sold = 14,500
1 grand prize of $6,600, 3 prizes of $800, 3 prizes of $65 and 10 prizes of $20.
Therefore,
Probability of winning 1 grand prize of $6,600 = [tex]\frac{1}{14,500}[/tex]
Probability of winning 3 prizes of $800 = [tex]\frac{3}{14,500}[/tex]
Probability of winning 3 prizes of $65 = [tex]\frac{3}{14,500}[/tex]
Probability of winning 10 prizes of $20 = [tex]\frac{10}{14,500}[/tex]
Expected value:
[tex]=[(\frac{1}{14,500}\times 6,600) + (\frac{3}{14,500}\times 800) + (\frac{3}{14,500}\times 65) + (\frac{10}{14,500}\times 20)] - 1[/tex]
[tex]=(0.455+0.166+0.013+0.014)-1[/tex]
= 0.648 - 1
= -0.352
Final answer:
The expected value of purchasing one ticket in the raffle is approximately -$0.352. This value suggests an expected loss of $0.352 per ticket when considering the prize distribution and the total number of tickets sold.
Explanation:
To calculate the expected value for a raffle ticket you have purchased, we will need to consider the total value of all prizes, the number of each type of prize, the total number of tickets sold, and the cost of the raffle ticket.
The following prizes are awarded in the raffle:
1 grand prize of $6,600.00
3 prizes of $800.00
3 prizes of $65.00
10 prizes of $20.00
Total number of tickets sold: 14,500
Now, to calculate the expected value for one ticket:
Calculate the total prize money: (1 times $6600) + (3 times $800) + (3 times $65) + (10 times $20) = $6600 + $2400 + $195 + $200 = $9,395.00
Divide the total prize money by the total number of tickets to find the expected value per ticket: $9,395 / 14,500 = approximately $0.648
Subtract the cost of one ticket ($1) from the expected value per ticket to find the expected gain or loss: $0.648 - $1 = -$0.352
The expected value of one raffle ticket in this scenario is approximately -$0.352, meaning an expected loss of $0.352 per ticket.
O. Sawyer discovered problems in coordinating the work flow going from her department to marketing. To solve the problem, she identified some situations that needed correction and asked employees to submit their suggestions for improvement. After their suggestions were summarized, the employees selected one for implementation. Next, a supervisor was given responsibility and authority to oversee implementation and to keep Sawyer informed. Sawyer's actions exhibit the ____ leadership style.
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.
Each plate consists of 6 characters: 3 numbers followed by 3 letters. You are allowed to have repetitions of letters and numbers. Find the probability that a randomly chosen license plate has_____________.
Answer:
Hi your question is incomplete but the two possible scenarios would be the probability of a randomly chosen license plate having repeated numbers or repeated letters since the repetitions of letters and numbers are allowed
probability for a license plate with repeated numbers will be = 0.0056%probability for a license plate with repeated letters will be = 0.1%Explanation:
If each plate consists of 6 characters which includes 3 numbers and 3 letters
The total number of plates that can be formed using this combination ( including repetition of number and letters ) will be
possible occurrence of letters = 26 ( a - z )
possible occurrence of numbers = 10 ( 0 - 9)
number of letters given = 3
number of digits given = 3
Hence total possible occurrence of letters will be ( possible occurrence of letters³(number of letters given) )
= 26*26*26 = 17576
Total possible occurrence of numbers will be ( possible occurrence of numbers³(number of digits given))
= 10*10*10 = 1000
The total number of plates that can be formed using the combination of 3 numbers followed by 3 letters will be
= 17576 * 1000 = 17576000
probability of repeated numbers = 1000 / 17576000 = 0.0056%
probability of repeated letters = 17576 / 17576000 = 0.1 %
Swifty Company developed the following information about its inventories in applying the lower-of-cost-or-net realizable value (LCM) basis in valuing inventories. Net realizable Product Cost value A $129000 $126000 B 80000 72000 C 154000 155000 If Swifty applies the LCNRV basis, the value of the inventory reported on the balance sheet would bea. $338000. b. $355000. c. $362000. d. $345000.
Final answer:
The value of Swifty Company's inventory reported on the balance sheet under the lower-of-cost-or-net realizable value basis would be $352,000, which is the sum of the lower amounts between cost and net realizable value for each product: $126,000 for Product A, $72,000 for Product B, and $154,000 for Product C.
Explanation:
The question relates to the application of the lower-of-cost-or-net realizable value (LCNRV) basis for valuing inventories in a business context. According to the LCNRV rule, inventory items should be reported at the lower of either the historical cost or the net realizable value (the estimated selling price in the ordinary course of business, minus reasonably predictable costs of completion, disposal, and transportation). To determine the inventory value for Swifty Company, each product's cost must be compared to its net realizable value, and the lower amount must be used for inventory valuation on the balance sheet.
Product A: Cost $129,000, Net realizable value $126,000 - Use $126,000
Product B: Cost $80,000, Net realizable value $72,000 - Use $72,000
Product C: Cost $154,000, Net realizable value $155,000 - Use $154,000
Summing up these amounts, the total inventory value reported on the balance sheet would be $126,000 + $72,000 + $154,000 = $352,000. The correct option matches with answer choice (c) $352,000.
A sporting goods company has a distribution center that maintains inventory of fishing rods. The fishing rods have the following demand, lead time, and cost characteristics: Average demand = 100 units per day, with a standard deviation of 12 units Average lead time = 12 days with a standard deviation of 2 days 250 days per year Unit cost = $25 Desired service level = 95% Ordering cost = $50 Inventory carrying cost = 20% The basic question: How many fishing rods should the distribution center carry to provide the desired service level? There are, of course, many other specific questions, such as EOQ? Average cycle stock?
Solution:
Average demand = 100 units per day, with a standard deviation of 12 units
Average lead time = 12 days with a standard deviation of 2 days
250 days per year
unit cost = $25 , desired service level = 95% , Ordering cost = $50 , Inventory carrying cost = 20%
Lets say
Average demand = Ad
Average lead time = At
Unit cost = U
Desired service level = Dl
Ordering cost = O
Inventory carrying cost = Icc
Standard deviation =S
Thus,
S of demand at Dl = [tex]12 * 12^{\wedge} 2[/tex] = 205 units
SS = 1.65 multiply with 205 = 339 units
Total units in a day = 250 multiply with 100 = 25000
EOQ = [tex]$(2 * 25000 \text { units per year } * 50 \text { per order }) /(25 \text { per unit* } 0.2)$[/tex] = 708 units
here 25 and 0.2 is unit cost and invetory cost
TAC
annual ordering cost
O = [tex]50 * 25000 / 708[/tex] = 1765.5
Annual inventory cost
Icc = [tex]25^{*} 0.2^{*}(708 \text { units } / 2)[/tex] = 1770
Annual product cost = Pc
25 multiply with 25000 = 625000
total = O +Icc+Pc
625000+1770+1765.5 = 628535.5
If the service level increases from 95% to 99%, cost will dec per unit
James Reston offered, via letter, to sell his mountain cabin to Jennifer Olsen for $375,000. Before Jennifer could respond, Reston died suddenly. What happens with the offer? a. The offer terminated with Reston's death. b. The offer is enforceable against the estate of Reston. c. The offer remains open until Reston's estate revokes it. d. Jennifer still has the power of acceptance for a reasonable period of time after Reston's death.
Answer:
A. The offer terminated with Reston's death.
Explanation:
According to the contract law, both parties have to agree with each other in terms of opinion and contract. The contractual agreement should be either mutually written or orally bound to become legal. In that case, James only offered to sell the mountain cabin to Jennifer. Since Jennifer did not respond whether to purchase it from James or not, it could not be a contract. Therefore, the option A is correct.
The offer for the sale of the A. cabin terminated upon James Reston's death, as an offer cannot typically be enforced or remain open after the offeror is deceased.
When James Reston offered to sell his mountain cabin and then died suddenly before Jennifer Olsen could respond, the legal status of the offer becomes an important question. The general rule in contract law is that an offer is terminated when the offeror dies. This is because an offer is a personal legal obligation that cannot be enforced once the individual who made the offer is deceased.
Therefore, the correct response is that the offer terminated with Reston's death. It is not enforceable against Reston's estate, nor does it remain open for acceptance. Jennifer does not retain any power of acceptance due to the principle that an offer cannot survive the death of the offeror.
Ningbo Steel had year end 2011 and 2012 retained earnings balances of $6,000,000 and $6,600,000 respectively. The firm paid $200,000 of dividends in 2012. Based on this information, Ningbo Steel’s net profit after taxes for 2012 was:
Answer:
$800,000
Explanation:
The retained earnings is the accumulated balance of the company's net income over the years. Movement between the opening retained earnings and the closing retained earnings of an organization is usually as a result of the net income/loss for the period and amount of dividend declared and paid during the period.
Opening retained earnings + net income - dividend = closing retained earnings
6,000,000 + net income - 200,000 = 6,600,000
net income = 6,600,000 + 200,000 - 6,000,000
net income = 800,000
All amounts are in $.
Ningbo Steel’s net profit after taxes for 2012 was $800,000
The net profit after taxes for Ningbo Steel in 2012 can be calculated by adding dividends paid to the increase in retained earnings. With the provided information, this gives us a total of $800,000.
Explanation:The question is looking for the net profit after taxes for 2012 for Ningbo Steel. The earnings balances of $6,000,000 in 2011 and $6,600,000 in 2012 indicate an increase in retained earnings of $600,000. The information provided also tells us that the firm paid dividends amounting to $200,000 in 2012. Net profit after tax is calculated by adding dividends paid to the increase in retained earnings, which, in this case, would be $600,000 (increase in retained earnings) + $200,000 (dividends paid) = $800,000. Therefore, the net profit after taxes for Ningbo Steel in 2012 was $800,000.
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Associated Breweries is planning to market unleaded beer. To finance the venture, it proposes to make a rights issue with a subscription price of $10. One new share can be purchased for each two shares held. The company currently has outstanding 100,000 shares priced at $40 a share. Assuming that the new money is invested to earn a fair return, give values for the following: (Do not round intermediate calculations. Enter your answers in dollars not millions.)
Associated Breweries can raise $500,000 from the proposed rights issue priced at $10 per share, given there are 100,000 shares outstanding. However, to determine the value of the rights issue and the investment in unleaded beer, it's important to consider the price point for the beer, market competition, and potential return for the investors.
Explanation:Associated Breweries is proposing a rights issue to raise funds for their new unleaded beer venture. The subscription price is $10 which means this is the price that shareholders will have to pay for the new shares. With rights issue, one new share can be purchased for each two shares held. Because there are 100,000 shares outstanding priced at $40 a share, if each shareholder bought the new shares, the company would raise $500,000. However, the new money needs to earn a fair return.
In terms of the cost of unleaded gasoline in the Bay Area, this is not relevant to this business scenario. Instead, the company would want to consider the price point for the unleaded beer, market competition, and potential return for their investors. Understanding these factors can help determine the value of their rights issue and the investment in unleaded beer.
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Under which of the following conditions is job dissatisfaction less predictive of turnover?
when employees are highly educated
when employees are presented with unsolicited job offers
when employees are highly skilled
when employees consider their current jobs to be unattractive
when employment opportunities are plentiful
Answer: When employees are presented with unsolicited job offers
Explanation:
When an employee is presented with unsolicited job offers, job dissatisfaction is less predictive of turnover and this is because the employee is very likely to leave because of the lure of other jobs than their attractiveness. This can also happen because the employee perceives that it is easy to leave especially when he feels that employment opportunities are plenty and many.
All of the following will cause a shift in the demand curve for oranges except ______.
A. an increase in the price of apple juice.
B. more people start drinking orange juice for breakfast.
C. a decrease in the price of oranges.
D. a new study suggest that orange juice is good for healthy bones.
E. excessive rain in northern Florida might cause supply of oranges to decrease.
Answer:
The correct answer is letter "D": a new study suggest that orange juice is good for healthy bones.
Explanation:
The demand curve represents the relationship between the price and the quantity demanded for a good or service. When the price rises, the quantity demanded falls and the demand curve shifts leftwards. If the price decreases, the quantity demanded increases and the demand curve shifts rightwards.
Thus, if a new study unveils the beneficial properties of oranges in keeping bones healthy, the reaction of consumers is uncertain. It is supposed to increase the demand for oranges but that does not necessarily need to happen.
Mercury Inc., an American multinational corporation, is currently planning to enter the promising consumer goods market in India. The firm will most likely discover that ________ beliefs and values are more open to change in India.a) inheritedb) secondaryc) primaryd) coree) traditional
Answer:
b). Secondary
Explanation:
As Mercury Inc. which is an American multinational corporation, is currently planning to enter the promising consumer goods market in India. The firm will most likely discover that secondary beliefs and values are more open to change in India. Inherited, primary and traditional beliefs and values are very much harder to change, which takes lot of time, it can take antire generations even to change them, whereas, secondary beliefs and values are easier to mold, manipulate and change. For example, one should merry in his or her is a primary belief but when one should get married is a secondary belief which can be changed quite easily but changing the primary values is almost very much impossible becasue it can take years and years of efforts.