Answer:
$50,000 + $25x
Explanation:
Given that,
Fixed cost to start a production process = $50,000
Variable cost per unit = $25
Revenue per unit is projected to be $45
Therefore,
Let the number of units produced be x,
The total cost function is as follows:
Total cost = Fixed cost + Variable cost
= $50,000 + (Variable cost per unit × Number of units)
= $50,000 + $25x
The mean amount spent by a family of four on food per month is $700 with a standard deviation of $85. Assuming that the food expenditures are normally distributed, what is the proportion of families of four that spend more than $900 per month?
Using the Z-score formula, we find that only about 0.9% of families of four spend more than $900 per month on food when the expenditures are normally distributed with a mean of $700 and a standard deviation of $85.
To calculate the proportion of families of four that spend more than $900 per month on food, given that the mean amount spent is $700 with a standard deviation of $85 and assuming a normal distribution, we use the Z-score formula: Z = (X - \mean\)/standard deviation, where X is the expenditure we're comparing to the mean.
In this case, Z = ($900 - $700)/$85 \ 2.35. The Z-score tells us how many standard deviations a point is from the mean. Using a standard normal distribution table or calculator, we find that a Z-score of 2.35 corresponds to a percentile roughly around 99.1%. Therefore, the proportion of families spending more than $900 is approximately 1 - 0.991 = 0.009, or 0.9%.
In a question related to approval of President George W. Bush's plan to save social security, the interviewer asks, "Don't you agree that something must be done to save social security?" This question suffers from _____.
A. Sensitive information
B. Double-barreled question
C. Biased wording
D. Frame of reference
E. Recall and memory decay
Answer: The correct answer is d) Frame of reference.
Explanation: Frame of reference refers to a set of criteria or stated values used in measurements or inferring judgements.
The question "Don't you agree that something must be done to save social security?" is a typical case of a frame of reference as it can be inferred that the interviewer already had a frame of mind as such was leading the President.
Renee, a project manager, is responsible for developing a project plan for her new project. To do so, she needs to consider all the tasks that would need to be done to produce the deliverable and make a list of them. In this scenario, Renee needs to prepare a(n) _____ for the project.
a) FMEA chart
b) RACI Matrix
c) work breakdown structure
d) project charter
e) contingency plan
Answer:
A) FMEA
Explanation:
the project is moced developing the make list
In this scenario, Renee needs to prepare a FMEA chart for the project. Hence, option A is correct.
What is FMEA chart?FMEA is a qualitative and systematic methodology that is often built within a spreadsheet that helps practitioners anticipate potential issues with a product or process.
Here is an example of a condensed FMEA for installing seatbelts in an automotive production line. As you can see, three potential failure modes have been identified. Due to its RPN of 144, the second failure mode is given top priority for process improvement.
FMEA is a systematic, proactive method for evaluating a process to ascertain where and how it might fail as well as to evaluate the relative impact of various failures in order to identify the areas of the process that need the most improvement.
Thus, option A is correct.
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Crimson Corp. has a component that is a discontinued operation. The component incurred a loss from operations of $40,000. The component was sold with an additional loss of $160,000. The tax rate is 30%. What is the income tax effect for the discontinued operation? A. Income tax expense of $80,000.
B. Income tax benefit of $56,000.
C. Income tax benefit of $80,000.
D. Income tax expense of $56,000.
Income tax benefit of $60,000
Explanation:
Crimson Corp. had a loss from operations Crimson Corp. sold the asset for a loss Crimson Corp. lost money with the asset An income tax benefit was generatedBy adding the losses we get $40,000 + $160,000 = $200,000 Income tax rate @ 30% can be calculated as $200,000 * 30% Income tax benefit = $60,000Miranda owns shares in Oak Corporation. In 2018, the company paid a stock dividend, and Miranda received one dividend payment for each share of stock owned. The distribution did not involve any shares of preferred stock, and Miranda did not have a choice to receive cash or other property instead of additional shares; nor did any of the other shareholders. Choose the response that best describes how Miranda should report this distribution. As ordinary dividend income reported on Schedule B, Interest and Ordinary Dividends. As qualified dividend income reported on Schedule B, Interest and Ordinary Dividends. As a return of capital reported on Schedule D, Capital Gains and Losses. The distribution is non-taxable, and Miranda does not need to report it.
Answer:
D. The distribution is nontaxable, and Miranda does not need to report it
This is a non-taxable expense from Oak to Miranda, with no tax penalties until she sells the portions.
This is neither an regular dividend nor a competent dividend. The latter ascends only when the said portions are held for so long as to appeal lower long-term capital gains.
This cannot be described in Schedule D as neither capital expansion nor loss is tangled as no sale has taken place.
The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $19 and has a variable cost of $11. There are $23,000 in fixed costs involved in the production process.
The correct question is:
The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $19 and has a variable cost of $11. There are $23,000 in fixed costs involved in the production process.
a. Compute the break-even point in units
Answer:
2,875
Explanation:
Break-even point is the point where the cost of producing a good is equal to the gain from sale of the goods.
So sales price above the break-evem point will result in profit.
Using the formula
Break-even = Fixed cost/(Revenue from sale- Variable cost)
Break-even= 23,000/(19-11)
= 23,000/8
= 2,875 units
Imagine you borrow $500 from your roommate, agreeing to pay her back $500 plus 7 percent nominal interest in one year. Assume inflation over the life of the contract is expected to be 4.25 percent. What is the total dollar amount you will have to pay her back in a year?
What dollar amount of the interest payment is the result of the real rate of interest?
a) What is the total dollar amount?
b) What is the interest payment?
Answer:
a) The total dollar amount = $513.2
b) The interest payment = $13.20
Explanation:
Use following formula to calculate the real interest rate:
1 + Real Interest rate = (1 + Nominal Interest rate ) / (1 + Inflation rate )
1 + Real Interest rate = (1 + 7% ) / (1 + 4.25% )
1 + Real Interest rate = (1 + 0.07 ) / (1 + 0.0425 )
1 + Real Interest rate = 1.07 / 1.0425
1 + Real Interest rate = 1.0264
Real Interest rate = 1.0264 - 1
Real Interest rate = 0.0264
Real Interest rate = 2.64%
a) The total dollar amount
A = P x ( 1 + r )^n = 500 x ( 1 + 0.0264)^1 = $513.2
b) The interest payment
Interest payment = $513.2 - $500 = $13.20
The total dollar amount to pay back is $535, and the amount of interest payment resulting from the real rate of interest is $13.75.
Explanation:The total dollar amount you would need to pay back to your roommate consists of the principal amount of $500 and the nominal interest of 7 %. Therefore, to calculate the total amount you will owe at the end of the year, we need to find the amount of interest first and then we add that to the original $500.
Interest = Principal x Rate of Interest = 500 x 0.07 = $35. Hence the total amount you would have to pay back would be the principal + interest = $500 + $35 = $535.
The dollar amount of the interest payment due to real rate of interest can be calculated by factoring in inflation. Real interest rate is essentially the nominal interest rate minus the expected inflation. So, Real Interest = Nominal Interest - Inflation = 7% - 4.25% = 2.75%. Therefore, the portion of the interest due to the real rate of interest = Principal x Real rate of interest = $500 x 0.0275 = $13.75.
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Hickory sold $32,000 of the inventory and has agreed to pay warranty expenses for its customers. These are expected to be $1,600 and occur evenly over the next four months (i.e., starting in June). What is the amount of Hickory’s May expenses when applying the matching principle?
Answer:
$43,600
Explanation:
The computation of the amount of Hickory’s May expenses when applying the matching principle is shown below:
Accrual expenses = Cost of Goods Sold + Advertising expenses+ Delivery Costs + Warranty Costs
= $32,000 + $8,000 + $2,000 + $1,600
= $43,600
The purchase of inventory would not be recognized as it comes under the balance sheet. Hence, ignored it
According to the matching principle, Hickory's expenses in May will be $0. The warranty expenses accrued from the sale will start being recognized from June, not May. Hence, no warranty expense is recognized in May.
Explanation:Hickory's expenses in May, according to the matching principle, will be $0. This is because the warranty expenses for the inventory sold are expected to begin in June, and are not counted in May's expenses. This principle in accounting stipulates that revenues and their associated costs should be recognized in the same financial period. The period in which Hickory will start recognizing the costs is when the expenses will start happening, which is starting June, not in May.
To illustrate, if it was expected that warranty expenses would occur over five months starting May, then for May, $1600/5 = $320 would have been recognized as warranty expenditure. However, since the warranty expenditure will only start from June, the May expense is $0.
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Determine the amount of money in a savings account at the end of 3 years, given an initial deposit of $9,000 and an annual interest rate of 4 percent when interest is compounded:
Use Appendix Afor an approximate answer, but calculate your final answer using the formula and financial calculator methods.(Do not round intermediate calculations. Round your final answers to 2 decimal places.)Future value:
a.Annually
b. Semiannually
c. Quarterly
Answer:
The correct answer for option (a) is $10,124, option (b) is $10,135 and option (c) is $10,141.
Explanation:
According to the scenario, the given data are as follows:
Initial amount (p) = $9,000
Annual interest rate (r1)= 4%
Semi annual interest rate (r2) = 4% / 2 = 2%
Quarterly interest rate (r3) = 4% / 4 = 1%
Time period ( annual) (n1)= 3 years = 3
Time period ( semi-annual) (n2) = 3 × 2 = 6
Time period ( quarterly) (n3) = 3 × 4 = 12
So, we can calculate future value by using following formula:
A= P ( 1 +r)^n
(a). Putting the value in the formula
A= P ( 1 +r1 )^n1
= $9,000 ( 1 + 4%)^3
= $9,000 x (1.04)^3
= $10,124
(b). Putting the value in the formula
A= P ( 1 +r2 )^n2
= $9,000 ( 1 + 2%)^6
= $9,000 x (1.02)^6
= $10,135
(c.) Putting the value in the formula
A= P ( 1 +r3 )^n3
= $9,000 ( 1 + 1%)^12
= $9,000 x (1.01)^12
= $10,141
Kevin Hall borrowed some money from his friend and promised to repay him $1,260, $1,370, $1,530, $1,650, and $1,650 over the next five years.
If the friend normally discounts investment cash flows at 7.5 percent annually, how much did Kevin borrow?
Answer:
$5974
Explanation:
Present value of a sum borrowed is equal to it's future payments discounted at r% rate of interest compounded annually for n periods.
Given: Repayment Schedule;
Year 1 $1260
Year 2 $1370
Year 3 $1530
Year 4 $1650
Year 5 $1650
Annual Rate of interest : 7.5 percent
Time period : 5 years
Money borrowed will be equal to the present value of future payments discounted at 7.5% per annum.
PV = [tex]\frac{1260}{(1\ +\ .075)^{1} } \ +\ \frac{1370}{(1\ +\ .075)^{2} } \ +\ \frac{1530}{(1\ +\ .075)^{3} } \ +\ \frac{1650}{(1\ +\ .075)^{4} } \ +\ \frac{1650}{(1\ +\ .075)^{5} }[/tex]
Present Value = $5974 = Money borrowed
Asa works as an order-taker at Simply Salads, a fast-food restaurant. He does not cook food, or even package the final order, but he does input the order and take payment. Asa reports directly to the shift manager, and he seldom interacts with the general manager. How would you describe the organization of Simply Salads?
Answer:
Hierarchical organizational structure
Explanation:
Hierarchical organizational structure is the type of organization structure where the level of management are divided according to function and services they are performing.
though, the level of management is divided into top level management (the planning executives: boards of member, executives, shareholders), middle (determined how the plan and organization goal will be implemented: managers) and lower level (implement the plan: the supervisor, foreman or shift manager), then will have the workers.
this management system involves decision and authority being transfer from level to level.
in the case: Asa is in the worker level, while her shift manager is in the lower level and general manager is in the middle level.
George is a manager at InnoBLAST Inc., a web-based applications company. In an attempt to promote new ideas, George decides to allow his engineering team to devote 15 percent of their work time to whatever projects they would like to work on and reduces their assigned workload. He then institutes a 30-minute period each morning where the team members are asked to look over their current project list for the day and develop more knowledge about a task before they move on to work on their assigned tasks.
The time period set aside each morning primarily helps promote _____ stages of the creative process.
A preparation and illumination
B incubation and verification
C illumination and verification
D verification and preparation
F preparation and incubation
Answer:
The correct answer is letter "E": preparation and incubation.
Explanation:
English professor Graham Wallas (1858-1932) proposed a model to explain the steps the human brain follows in the creative process. Those steps are preparation, incubation, illumination, and verification. In the preparation stage, individuals define a problem and its dimensions. In the next step, incubation, the problem is analyzed only internally for reflection.
Final answer:
George's 30-minute morning period for his team is geared toward enhancing the preparation and incubation stages of the creative process, by allowing them to review projects and let underlying thoughts mature. F is correct.
Explanation:
The time period set aside each morning in this context primarily helps promote the preparation and incubation stages of the creative process. The preparation stage is where individuals develop more knowledge about a task, which is exactly what George is implementing by having the team review their project list and tasks each morning. Incubation implies a period of unconscious problem solving that occurs away from active task engagement, and this method is improved through short breaks, such as the 30-minute period George has established for his team.
Prescott Bank offers you a five-year loan for $75,000 at an annual interest rate of 6.8 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
Y= $18,194.05
Explanation:
This is a form of annuity that involves payment of equal amounts monthly for 5 years. These amount are made up of part of the interest and part of the principal.
Using the annuity formula
P= Y{1-(1/[1+r]^n)/r}
Where P = Initial loan amount
Y = yearly payment
r= interest rate
n= number of years
75,000= Y{1-(1/[1+0.068]^5)/0.068}
75,000= Y{1-(0.719689)/0.068}= Y{0.280311/0.068}
Y= 75,000/4.122227
Y= $18,194.05
The annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
To calculate the annual loan payment, we can use the formula for the present value of an annuity:
[tex]\[ PMT = \frac{P \times r}{1 - (1 + r)^{-n}} \][/tex]
Where:
- PMT is the annual loan payment,
- P is the principal amount of the loan (in this case, $75,000),
- r is the periodic interest rate (annual interest rate divided by the number of periods per year),
- n is the total number of payments (in this case, 5 years multiplied by the number of periods per year).
Given:
- P = $75,000
- Annual interest rate (r ) = 6.8% = 0.068
- Number of years (n) = 5
First, we need to convert the annual interest rate to a periodic interest rate. Since the loan is for 5 years and paid annually, there's only one payment per year, so the periodic interest rate (r) is the same as the annual interest rate.
Now, we can plug in the values:
[tex]\[ PMT = \frac{75,000 \times 0.068}{1 - (1 + 0.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - (1.068)^{-5}} \]\[ PMT = \frac{75,000 \times 0.068}{1 - 0.747258} \]\[ PMT = \frac{75,000 \times 0.068}{0.252742} \]\[ PMT = \frac{5100}{0.252742} \]\[ PMT ≈ 20165.07 \][/tex]
Therefore, the annual loan payment will be approximately $20,165.07 when rounded to two decimal places.
A local finance company quotes an interest rate of 17 percent on one-year loans. So, if you borrow $34,000, the interest for the year will be $5,780. Because you must repay a total of $39,780 in one year, the finance company requires you to pay $39,780/12, or $3,315.00, per month over the next 12 months.
Answer:
Company quotes an interest rate 17 percent on one-year loans.
Explanation:
Borrow value=$34000
interest rate of company in one year=17 percent
Total interest in a year =$34000×[tex]\frac{17}{100}[/tex]
total interest=$5780
Total payment in one year=$34000+$5780
Total payment=$39780
You will pay $39780/12 or $3315.00/month according to company statement.
You are an analyst for a telecommunications company that is concerned about the number of customers leaving their landline business for cable competitors. The company needs to know which customers are leaving and attempt to mitigate continued customer loss. You have been asked to analyze customer data to identify why customers are leaving and potential indicators to explain why those customers are leaving so the company can make an informed plan to mitigate further loss.
Answer:
Currently, telecommunications companies that have had increases at the level of users or subscribers have been more than all the companies that are providing internet services and that additionally, in these services include a series of programs or platforms that are in trend.
The best plan that should have a enterprise of communication at this time would be necessary in these online platforms, such as offering data or broadband services or creating platforms where the series or television channels that more people watch.
Eric is the advertising head of a firm. He is extremely imaginative, creative, and curious. Which of the following personality dimensions does Eric possess? Customary thinking Openness to experience Resistance to change Neuroticism Cautiousness
Answer:
Openness to experience
Explanation:
Eric being imaginative, creative and curious shows that he is open minded and has the ability to explore other people's opinions of a situation.
Being imaginative and creative requires one to look at all possibilities when trying to find a solution. This traits also describes openness to experience.
Answer:
Openness to experience.
Explanation:
In this question, given Eric's listed characteristics, as an imaginative, creative and curious person, it can be said that he has the personality dimension "openess to experience".
This is one of the domains used in the five-factor model that describes human personality.
There are five factors that determine the characteristics of a person who has the dimension of the opening, which are:
active imagination (fantasy), aesthetic sensitivity, attention to inner feelings, preference for variety and intellectual curiosity.We can say that Eric has the ideal profile to be head of advertising in a company, since this role requires creativity and innovation to develop advertising campaigns that engage and involve the target audience to achieve business goals.
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare adjusting entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded. On December 1, 2017, the company paid its annual fire insurance premium of $5,200 for the year beginning December 1 and debited prepaid insurance. On August 31, 2017, the company borrowed $85,000 from a local bank. The note requires principal and interest at 8% to be paid on August 31, 2018. Mazzanti owns a warehouse that it rents to another company. On January 1, 2018, Mazzanti collected $22,400 representing rent for the 2018 calendar year and credited deferred rent revenue. Depreciation on the office building is $16,800 for the fiscal year. Employee salaries and wages for the month of June 2018 of $17,500 will be paid on July 20, 2018 Prepare the necessary year-end adjusting entries at the end of June 30, 2018, for the above situations.
Answer:
As all quarterly adjustments have been done the adjustments will be only for the final quarter( April - May- June) and calculations will be accordingly.
Sr. No Accounts Dr. Cr.
June 30 Insurance Expense 1300
Prepaid Insurance 1300
$ 52,00 *3/12= $ 1300
June 30 Interest Expense 1700
Interest Payable 1700
Interest = $ 85,000 * 8/100= $ 6800 , For 3 months the interest would be $6800 * 3/12= $ 1700
June 30 Unearned Rent Revenue 5600
Rent Revenue Earned 5600
Rent Revenue for 3 months would be = $ 22,400 *3/12= $ 5600
June 30 Depreciation Expense 4200
Accumulated Depreciation 4200
Depreciation for 3 months = $ 16,800 *3/12= $ 4200
June 30 Salaries Expense 17500
Salaries Payable 17500
Salaries payable for the month of June
The competition within each strategic group is: a. typically very low. b. more intense than the competition between different strategic groups. c. less intense than the competition between different strategic groups. d. an unknown factor in the analysis of competitive practices within a firm's strategic group.
Answer:B. more intense than the competition between different strategic groups.
Explanation: Competition is a rivalry between two or more group of people or organizations or business entities with the sole aim of maintaining a good market share,a good profits etc
Competition can be within a strategic group or between strategic groups. Competition within strategic group is a rivalry that takes place between business entities that produce similar product or who are within an industry,this type is more intense than between strategic groups( Organisations of different industry).
The forecasting time horizon that would typically be easiest to predict for would be the A. intermediate range. B. short range. C. long range. D. medium range.
Answer: B) Short range
Explanation:
Short range time horizon forecasting is prediction of the time span range till which the decisions regarding production, investments etc will work.This span is from three weeks lasting upto 1 year for making plans and accurate or actual predictions .It is used in job plan, work-force stages etc.
Other options are incorrect because long, medium or intermediate are the horizon that can't be predicted easily as compared to short range horizon for making decision based on few weeks span.Thus, the correct option is option(B).
Natalia notices that if she does not sleep a lot at night, she feels tired the next day. What relationship (if any) exists between hours of sleep and degree of exhaustion? Click or tap a choice to answer the question. a. There is no correlation. b. There is a negative correlation. c. There is a positive correlation. d. There is an omitted variable.
Answer:
The correct answer is letter "B": There is a negative correlation.
Explanation:
In the world of Finance, Correlation is a statistical measure of how two securities move in relation to each other. Correlation is represented by the correlation coefficient with ranges between (-1) and (+1). When two variables move in a similar direction, they are considered positively correlated. If the variable move in different directions they are negatively correlated.
Natalia's observation of feeling more tired with less sleep indicates a negative correlation between hours of sleep and degree of exhaustion. This relationship means that as the amount of sleep decreases, the feeling of tiredness increases.
Natalia notices that if she does not sleep a lot at night, she feels tired the next day. This observation suggests a certain type of relationship exists between hours of sleep and degree of exhaustion. To understand this, it's important to grasp the concept of correlation in the context of this scenario. In general, a negative correlation exists when one variable increases as the other decreases. In the case of sleep and exhaustion, as the number of hours of sleep decreases, the feelings of tiredness increase, indicating a negative correlation.
Referring to established research and real-world examples, such as the study by student researchers at the University of Minnesota which found a weak negative correlation between sleep duration and GPA, we can apply similar logic here. Thus, the correct answer to Natalia's observation would be b. There is a negative correlation between hours of sleep and degree of exhaustion. This means that the less Natalia sleeps, the more tired she feels the following day.
. LG plans to structure a transaction as a legal sale of property, even though the economic substance of the transaction is a lease of the property. In her current position, the tax consequences of a sale are much more favorable than those of a lease. Ms. LG believes that if her position unexpectedly changes so that she would prefer a lease to a sale, she can ignore the legal formalities and report the transaction as a lease.
Answer: LG needs to be aware of the implications around leasing her property or to selling off out rightly.
whether A sale or lease happens between her and the company /individual who wants to buy over or make use of the property. So she cannot ignore the legal formalities and report the transaction as a lease.
Explanation:
Governor Smith of Georgia is presented with the following data: currently the state derives a total of $400 million of benefits from education spending and it only costs $250 million. The legislature proposes increasing spending to $300 million. Quality studies show that this new spending will increase the total benefit of education to $425 million. Choose the correct relevant answer below.
A)
Since the new total benefit of $425 million is so much larger than the new total cost of $350 million, it clearly makes economic sense to spend the extra money according to the Cost-Benefit Principle.
B)
To get the economically wise decision made according to the Cost-Benefit Principle, we need to compare the marginal benefit of $25 million with the total cost of $350 million. This new spending makes no economic sense.
C)
In order to use the Cost-Benefit Principle correctly we need to compare the marginal benefit of the new spending, which is $25 million, with the marginal cost of the new spending, which is $50 million. This new spending makes no economic sense.
D)
Education spending by the state clearly makes no sense under any circumstances according to the Cost-Benefit Principle. As we can see from the data above, there is no amount of spending where the total benefits exceed the total costs.
Answer:
C)
In order to use the Cost-Benefit Principle correctly we need to compare the marginal benefit of the new spending, which is $25 million, with the marginal cost of the new spending, which is $50 million. This new spending makes no economic sense.
Explanation:
The cost-benefit principle in accounting states that the additional benefit must outweigh additional cost in an accounting system.
Spending of $250 million is giving $400 million revenue. The new proposal of spending $300 million to get $425 million implies we are spending extra $50 million to make extra $25 million.
This is not a good investment according to the cost-benefit principle.
If beginning work in process is 3,900 units, ending work in process is 3,700 units, and the units accounted for equals 11,200 units, what must units started into production be?
Answer:
started units 7,300
Explanation:
beginning WIP 3,900
started into production X
this sum should equal the amount for units accounted for
11,200 - 3,900 = 7,300 started units
The ending WIP and the trasnferred-out represent the units to be assigned for
Opponents of free trade often want the United States to prohibit the import of goods made in overseas factories that pay wages below the U.S. minimum wage. Prohibiting such goods is likely to__________.
Answer:
harm the US economy
Explanation:
The cheaper goods allwos US citizens to purchase another goods and services which are home-made Thus, if the economy has to do these goods, maybe it doesn't have the know-how to be as efficient as their southasian counterparts and ends up with lower quality and more expensive goods take uses resources that could be better off somewhere else.
If the government close the economy we can see the examples in the world, Cuba, Venezuela and North Korea have a closed economy.
Clearly it is better to keep it open.
Ramos Company has the following unit costs: Variable manufacturing overhead$15 Direct materials 13 Direct labor 17 Fixed manufacturing overhead 12 Fixed marketing and administrative 11 What cost per unit would be used for product costs under full absorption costing?
Answer:
Unitary cost= $56
Explanation:
Giving the following information:
Variable manufacturing overhead $15
Direct materials $13
Direct labor $17
Fixed manufacturing overhead $12
Fixed marketing and administrative $11
Under absorption costing, the fixed overhead is allocated to the product cost:
Unitary cost= direct material + direct labor + variable overhead + fixed overhead
Unitary cost= 13 + 17 + 15 + 11= $56
The cost per unit for product costs under full absorption costing is $57.
Explanation:The cost per unit for product costs under full absorption costing is the sum of the variable manufacturing overhead, direct materials, direct labor, and fixed manufacturing overhead costs per unit.
Variable manufacturing overhead per unit: $15Direct materials per unit: $13Direct labor per unit: $17Fixed manufacturing overhead per unit: $12Add all the costs per unit: $15 + $13 + $17 + $12 = $57
Therefore, the cost per unit for product costs under full absorption costing is $57.
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The Gini ratio is A. the area between the diagonal line and the Lorenz curve divided by the total area below the diagonal line. B. the area between the diagonal line and the Lorenz curve. C. the sum of the income shares for the middle quintiles divided by the income shares of the other quintiles. D. the fraction of income earned by the quintiles with the largest income share.
Answer:A
Explanation:
Gino ratio is defined as a ratio with value between 0 and 1:the numerator is the area between the Lorenz curve of the distribution line, the denominator is the area under the uniform distribution line.
Which of the following transactions would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting? A. Paying off loans B. Purchasing inventory on account C. Collecting customer payments D. Borrowing money
Answer:
B. Purchasing inventory on account
Explanation:
The Purchase of inventory on account is not recorded when the cash basis of accounting is recorded but where as it is recorded when accrual basis of accounting is used.
Answer:
Purchasing inventory on account
Explanation:
Purchasing inventory on account would be recorded if using the accrual basis of accounting but not if using the cash basis of accounting.
In case the purchases were made on credit accrual basis of accounting will be able to record it
Marielle Machinery Works forecasts the following cash flows on a project under consid- eration. It uses the internal rate of return rule to accept or reject projects. (LO8-2) a. What is the project’s IRR? b. Should this project be accepted if the required return is 12%?
Answer:
a. Project’s IRR is 18.28%
b. Project should be accepted and pursued because it IRR is higher than the required rate of return.
Explanation:
Cash flows are missing a similar question is attached and followoing answer is made accordingly.
Year 0 1 2 3 NPV
Cash flows -$10,000 $0 $7,500 $8,500
PV @ 10% -$10,000 $0 $6,198 $6,386 = $2,584
PV @5% -$10,000 $0 $6,802 $7,342 = $4,144
IRR = 0.05 + ( 4,144 / (4,144-2,584)) x (0.1-0.05) = 18.28%
Franklin Company borrowed $144,000 from a bank on March 1, 2021 and agreed to pay it back in eleven months at an interest rate of 19% per year. Calculate the amount of interest expense related to this loan reported in Franklin Company's 2022 income statement.
Answer:
$25,080
Explanation:
Given:
Loan amount = $1,44,000
Starting Date 1 march 2021
Duration = 11 month
Interest Rate = 19%
Amount of interest =?
[tex]Amount of interest for a year = PRT/100\\\\Amount of interest for a year = 144,000\times19\times1/100\\Amount of interest for a year= 27,360[/tex]
Amount of interest for eleven month = Amount of interest *11/12
Amount of interest = $27,360*11/12
Amount of interest = $25,080
A coase solution to a problem of externality insures ensures that a socially efficient outcome is to:
a. internalize the externality through taxes
b. internalize the externality through subsidies
c. maximize the joint welfare, irrespective of the right of ownership.
d. stop production if there is any externality.
e. invite other private partners to share the burden of externality.
Answer:
The correct answer is letter "C": maximize the joint welfare, irrespective of the right of ownership.
Explanation:
Named after British economist Ronald Coase (1910-2013) the Coase Theorem is a legal and economic theory which states that, when there are competitive markets and no transaction costs, bargaining will result in an effective and mutually beneficial outcome irrespective of how property rights are distributed.