Answer:
Option (b) is correct.
Explanation:
Inflation rate refers to the rate at which the prices of goods and services are increased.
Inflation rate:
= Percentage Change in Consumer Price Index
= (100 - 110) ÷ 110
= - 10 ÷ 110
= - 0.0909, or - 9.09%
So, this is a Deflation of 9.09% (9.1%), and a deflation means that value of money has increased.
Using the data below, compute Dino’s return on sales ratio for the month of January. Net Sales $13,000 Cost of goods sold 5,000 Operating expenses 3,500 Other income 1,000 Income tax expense 1,700 Round answer to the nearest whole percentage.
To compute Dino's return on sales ratio for the month of January, subtract the total expenses from the net sales to find the net income. Then divide the net income by the net sales and multiply by 100 to get the return on sales ratio, which is 13.8%.
Explanation:To compute Dino's return on sales ratio for the month of January, we need to calculate the net income and net sales. Net income is calculated by subtracting operating expenses, cost of goods sold, and income tax expense from net sales. In this case, net income = net sales - (cost of goods sold + operating expenses + income tax expense). Net sales is $13,000, cost of goods sold is $5,000, operating expenses is $3,500, other income is $1,000, and income tax expense is $1,700.
So, net income = $13,000 - ($5,000 + $3,500 + $1,000 + $1,700) = $13,000 - $11,200 = $1,800.
Finally, we can calculate the return on sales ratio by dividing net income by net sales and multiplying by 100 to get the percentage. Return on sales ratio = (net income/net sales) x 100. In this case, return on sales ratio = ($1,800/$13,000) x 100 = 0.138 x 100 = 13.8%.
A purchase of an asset for immediate consumption that will not be paid for until next month would cause liabilities to increase and stockholders’ equity to decrease this month.
O True O False
Answer:
False
Explanation:
When an asset is purchased for immediate consumption and it will be paid for next month the company will have an accounts payable. So in this case the purchase of the asset would increase the assets of the company and increase accounts payable a liability by the same amount. Stock holders equity will remain unchanged by this transaction therefore this statement is false, as this transaction will only affect assets and liabilities.
What is the overall change in cash resulting from: $248 increase in inventories, $186 increase in accounts payable, $139 decrease in accounts receivable, $61 decrease in other current assets, $84 decrease in other current liabilities?
Answer:
An increase of $54
Explanation:
Any increase in current assets will decrease in cash. On the other hand, any decrease in current assets will increase cash balance.
Inversely, any increase in current liabilities will increase cash and any decrease in current liabilities will decrease cash balance of the period.
Increase in inventories ($248)
Increase in accounts payable $186
Decrease in accounts receivable $139
Decrease in other current asset $61
Decrease in other current liabilities ($84)
Total change $54 - an increase in cash
The Taxpayer First Act does NOT change the electronic filing requirement for which type of exempt organization information return?Form 990-N,
a. Annual Electronic Filing Requirement for Small Exempt Organizations (e-Postcard) Form 990-EZ,
b. Short Form Return of Organization Exempt from Income Tax Form 990-PF,
c. Return of Private Foundation Form 990-T,
d. Exempt Organization Business Income Tax Return
Answer:
a. Annual Electronic Filing Requirement for Small Exempt Organizations (e-Postcard) Form 990-EZ,
Explanation:
The new law Taxpayer First Act requires all tax-exempt organizations with a filing requirement Forms 990, 990-PF, 990-EZ, 990-T and Form 8872 (Section 527 political organizations are now required to e-file their periodic contribution and expenditure reports) to do so electronically .
Form 990-N postcard have been required to e-file through the IRS’ website directly or by using a tax software approved by IRS since its inception.
Suppose you just won the state lottery, and you have a choice between receiving $3,500,000 today or a 20-year annuity of $250,000, with the first payment coming one year from today. What rate of return is built into the annuity? Disregard taxes. Select the correct answer. a. 4.47% b. 2.87% c. 4.07% d. 3.27% e. 3.67%
Answer: The correct answer is e). 3.67%
Explanation: An ordinary annuity is a series of payments made at the end of each period.
The formula for ordinary annuity is PV = PMT × ((1 - (1 + r) ^ -n)/ r)
Where; PMT = the periodic cash payment; r = the interest rate per period; n = the total number of periods and PV = present value.
Therefore; 3500000 = 250000×((1-(1+r)^-20)/r
This will give the rate as 3.67%
Think about a country where most economic production results in a terrible smell that makes people sick. What would be the trade-off if the bad result (a terrible smell) were reduced?
Answer:
Explanation:
The bad smell is a cost into the society that result from production of goods. A trade-off is what you give up to benefit from the choice of another alternative. If the bad result was removed, there would be a trade-off between having a good environment and production of commodities for the purpose of growing economically. If production of goods is reduced, it means the quality of life will improve and that enhances development.
If the bad result of a terrible smell is reduced, there would be a trade-off of a decrease in economic production.
Explanation:In a country where most economic production results in a terrible smell, there is a trade-off if the bad result is reduced. The trade-off would be a decrease in economic production. This is because reducing the terrible smell may require implementing measures that could be expensive and time-consuming for businesses, leading to a decrease in productivity and output.
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Dozier Company produced and sold 1,000 units during its first month of operations. It reported the following costs and expenses for the month:Direct materials $ 72,000 Direct labor $ 36,500 Variable manufacturing overhead $ 16,200 Fixed manufacturing overhead 28,900 Total manufacturing overhead $ 45,100 Variable selling expense $ 12,600 Fixed selling expense 19,200 Total selling expense $ 31,800 Variable administrative expense $ 4,300 Fixed administrative expense 25,600 Total administrative expense $ 29,900 Required:1. With respect to cost classifications for preparing financial statements:a. What is the total product cost?b. What is the total period cost?2. With respect to cost classifications for assigning costs to cost objects:a. What is total direct manufacturing cost?b. What is the total indirect manufacturing cost?3. With respect to cost classifications for manufacturers:a. What is the total manufacturing cost?b. What is the total nonmanufacturing cost?c. What is the total conversion cost and prime cost?4. With respect to cost classifications for predicting cost behavior:a. What is the total variable manufacturing cost?b. What is the total fixed cost for the company as a whole?c. What is the variable cost per unit produced and sold?5. With respect to cost classifications for decision making:a. If Dozier had produced 1,001 units instead of 1,000 units, how much incremental manufacturing cost would it have incurred to make the additional unit?
This computation revolves around various cost classifications involving total product cost, total period cost, total direct and indirect manufacturing costs, total manufacturing and non-manufacturing costs, total conversion and prime costs, total variable manufacturing cost and fixed cost, variable cost per unit and incremental manufacturing cost.
Explanation:1.
Total product cost includes direct materials, direct labor, and both variable and fixed manufacturing overhead. It equals $72,000 + $36,500 + $16,200 + $28,900 = $153,600.
Total period cost includes variable and fixed selling expense, and variable and fixed administrative expense. Thus, it equals $12,600 + $19,200 + $4,300 + $25,600 = $61,700.
2.
Total direct manufacturing cost includes direct materials and direct labor, equating to $72,000 + $36,500 = $108,500.
Total indirect manufacturing cost comprises both variable and fixed manufacturing overhead, summing up to $16,200 + $28,900 = $45,100.
3.
Total manufacturing cost equals total product cost, which is $153,600.
Total non-manufacturing cost is the same as total period cost, $61,700.
Total conversion cost comprises direct labor and manufacturing overheads, resulting in $36,500 + $45,100 = $81,600.
The prime cost includes direct materials and direct labor, adding up to $72,000 + $36,500 = $108,500.
4.
Total variable manufacturing cost includes variable manufacturing overhead and direct materials and direct labor. Therefore, it equals $16,200 + $72,000 + $36,500 = $124,700.
Total fixed cost is the sum of fixed manufacturing overhead, fixed selling expense, and fixed administrative expense, hence $28,900 + $19,200 + $25,600 = $73,700.
Variable cost per unit produced and sold equals total variable manufacturing cost divided by the number of units, resulting in $124,700/1,000 = $124.70.
5.
If Dozier had produced 1,001 units instead of 1,000 units, the incremental manufacturing cost would have been the variable manufacturing cost per unit, which is $16,200/1,000 = $16.20.
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Paulson Company issues 6%, four-year bonds, on December 31, 2018, with a par value of $200,000 and semiannual interest payments. Semiannual Period-End Unamortized Discount Carrying Value (0) 12/31/2015 $ 13,466 $ 186,534 (1) 6/30/2019 11,782 188,218 (2) 12/31/2019 10,098 189,902 Use the above straight-line bond amortization table and prepare journal entries for the following.
(a) The issuance of bonds on December 31, 2018.
(b) The first interest payment on June 30, 2019.
(c) The second interest payment on December 31, 2019.
Answer:
Explanation:
Date 31 Dec 2018
General journal:
Debit Cash 186534
Debit Discounts on bonds payable 13466
Credit Bonds payable 200000
Date June 30 2019
Debit Interest expense (6000+1684) 7684
Credit Cash 6000
Credit Discounts on bonds payable (13466-11782) 1684
Cash paid = Par value of bonds * interest rate * 6months/12months = 200000*0.06*6/12=6000
Date Dec 31 2019
Debit Interest expense 7684
Credit Cash 6000
Credit Discounts on bonds payable (13466-11782) 1684
(a)
On 31 Dec 2018
Cash $186,534
Discounts on bonds payable $13,466
To Bonds payable $200,000
(Being issuance of the bond is recorded)
(b)
On June 30 2019
Interest expense ($6,000 + $1,684) $7,684
Cash $6,000
Discounts on bonds payable ($13,466 - $11,782) $1,684
(Being first interest payment is recorded)
Note:
Cash paid = Par value of bonds × interest rate × 6months ÷ 12months
= $200,000 × 0.06 × 6 ÷ 12
= $6,000
(c)
On Dec 31 2019
Interest expense $7,684
Cash $6,000
Discounts on bonds payable ($13,466 - $11,782) $1,684
(Being second interest payment is recorded)
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At December 31, 2019, Novak Company had a credit balance of $18,000 in Allowance for Doubtful Accounts. During 2020, Novak write off accounts totaling $13,300. One of those accounts ($3,200) was later collected. At December 31, 2020, an aging schedule indicated that the balance in Allowance for Doubtful Accounts should be $27,200. Prepare journal entries to record the 2017 transactions of Finzelberg Company.
Answer:
================================================================
Accounts titles and explanation Debit Credit
================================================================
Allowance for Doubtful Accounts $13,300
Accounts Receivable $13,300
-----------------------------------------------------------------------------------------------------------
Accounts Receivable $3,200
Allowance for Doubtful Accounts $3,200
-----------------------------------------------------------------------------------------------------------
Cash $3,200
Accounts Receivable $3,200
-----------------------------------------------------------------------------------------------------------
Bad Debt Expense($18,000 - $13,300 + $3,200
= $7900 balance before adjustment); $19300
($27,200 - $7900 = $19300 adjustment)
Allowance for Doubtful Accounts $19300
================================================================
Explanation:
The journal entries to record the 2017 transactions of Finzelberg Company will be given as:
================================================================
Accounts titles and explanation Debit Credit
================================================================
Allowance for Doubtful Accounts $13,300
Accounts Receivable $13,300
-----------------------------------------------------------------------------------------------------------
Accounts Receivable $3,200
Allowance for Doubtful Accounts $3,200
-----------------------------------------------------------------------------------------------------------
Cash $3,200
Accounts Receivable $3,200
-----------------------------------------------------------------------------------------------------------
Bad Debt Expense($18,000 - $13,300 + $3,200
= $7900 balance before adjustment); $19300
($27,200 - $7900 = $19300 adjustment)
Allowance for Doubtful Accounts $19300
================================================================
Preconceived assumptions made by managers regarding their workers result in violations of fair:a) labor laws. b)self-fulfilling prophecies. c)better performing employees. d)difficulties with job performance evaluations.
Answer:
The correct answer is letter "A": labor laws.
Explanation:
Labor laws are the set of legal rules employers must follow to promote an equalitarian job environment. The right to be free from discrimination, to work in a safe work frame, to be free from retaliation, and to have access to a fair wage are the basic rights employees must make respect.
Preconceived assumptions could lead to discriminating individuals because of certain features like race, religion, sex or political ideology. Thus, preconceived assumptions lead to managers breaking labor laws.
define the procedures that different computers follow when they transmit and receive data.A) ConsolesB) PortsXC) ProtocolsD) HostsE) Domains
Answer:
C. Protocols
Explanation:
Protocols -
It consists of the set of rules which enables communication between two or more system where the data and information can be transferred is referred to as protocol .
Protocol have some defined syntax and rules .
Protocol can be implemented on both software as well as software.
Hence , from the given statement of the question,
The correct term is protocol .
________ is a method of entering a foreign market that involves a company coming together with a foreign company to produce or market products or services.
Answer:
The correct word for the blank space is: Joint venturing.
Explanation:
Two or three international companies plan to provide capital and resources to a common project in a Joint Venture. Developers, manufacturing companies, and service providers usually form a joint venture. Both groups, if successful, split the profits based on the value of their respective contributions to the joint venture.
Effect of Transactions on Accounting Equation
a. A vacant lot acquired for $115,000 is sold for $298,000 in cash. What is the effect of the sale on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change' from the dropdown and then enter a "0" in the amount box.
Effect Amount
1. Total assets Increased $
2. Total liabilities No Change $
3. Stockholders' equity Increased $
b. Assume that the seller owes $80,000 on a loan for the land. After receiving the $298,000 cash in (a), the seller pays the $80,000 owed. What is the effect of the payment on the total amount of the seller's (1) assets, (2) liabilities, and (3) stockholders' equity? If there is no change, select 'No change' from the dropdown and then enter a "0" in the amount box. Consider only the payoff of the loan, without considering the sale of the land.
Effect Amount
1. Total assets Decreased $
2. Total liabilities Decreased $
3. Stockholders' equity No Change $
c. Is it true that a transaction always affects at least two elements (Assets, Liabilities, or Stockholders' Equity) of the accounting equation?
Answer:
ASSET = LIABILITY + CAPITAL
Loan 80000
(previous-given)
-115000 (Lot) No Effect 183000
+298000 (Cash)
-80000 (Cash) -80000 (Loan)
Explanation:
Accounting Equation : Assets = Capital + Liabilities
Previous Given Information : Loan Rs 80000
The Vacant lot costing 115000 decreases the asset lot by that amount, sold for cash at 298000 increases cash by same amount, adds the capital by the amount of profit (298000-115000).
The previous loan 80000 paid decreases the loan liability by same, also decreases cash asset by same.
The sale of the vacant lot increases the seller's assets and stockholders' equity by $183,000, with no change to liabilities. Paying off the $80,000 loan decreases both assets and liabilities by the same amount, with no impact on stockholders' equity. Transactions typically affect at least two elements of the accounting equation to maintain balance.
Explanation:In the first scenario, the sale of the vacant lot for $298,000 results in an increase in total assets by $183,000 (the difference between the sale price and the acquisition cost), and an equivalent increase in the stockholders' equity as the company profits from the sale. This transaction doesn't affect the company's liabilities. Therefore, the asset increase amount is $298,000 - $115,000 = $183,000.
In the second scenario, assuming the loan repayment happens immediately after the sale, the company experiences a decrease in the assets and liabilities. This is because the $80,000 cash used to repay the loan reduces the company's assets, and simultaneously diminishes their liabilities by the same amount. The stockholders' equity wouldn't change as the loan repayment itself does not increase or decrease the company's net worth. So, the decrease amount is $80,000.
Lastly, it is generally true that transactions always affect at least two elements of the accounting equation. The accounting equation — Assets = Liabilities + Stockholders' Equity — must always balance. This means that any transaction that alters the total value of one element must equally affect at least one other element as well.
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Knowing the types of positive law is important to an understanding of the American legal system. ____________ attempts to provide us with a description that captures the general essence of law, rather than offering a simple list of different kinds of laws.
A. The nature of law
B. Political science
C. Sociology
D. Federalism
E. Jurisprudence
Answer:
The correct answer is letter "E": Jurisprudence.
Explanation:
Jurisprudence typically means the philosophy of law. It refers to the study of that field. The ultimate goal of jurisprudence is to provide an understanding of the nature of law conveying legal reasoning and systems, and the role law plays in a community.
The nature of law is what tries to provide a general understanding of the essence of law, beyond simply listing its various types. It helps explain the core principles, roles, and functions of law in society, contributing to a thorough understanding of any legal system.
Explanation:The correct option for the question would be 'A. The nature of law'. The nature of law attempts to provide us with a description that captures the general essence of law, rather than simply providing a list of various types of laws. It delves deeper to explore the core principles, functions, and roles that the law plays in society. By understanding this, we can gain a more complete comprehension of the workings of any legal system, including the American legal system. In other words, it attempts to define the very essence of what law is.
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A company purchased office equipment and office supplies on credit from Doug Equipment Company. What is the entry?
Answer:
$ $
Office Equipment 5,000
Office Supplies 10,000
Doug Equipment Company 15,000
15,000 15,000
Explanation:
The entry for a company that purchased office equipment and office supplies on credit from Doug Equipment Company is:
Debit Office Equipment (or Office Supplies)
Credit Accounts Payable.
When a company purchases office equipment or supplies on credit, it acquires an asset and incurs a liability. The office equipment or office supplies account is debited to reflect the increase in assets. This entry records the cost of the equipment or supplies as an asset on the balance sheet, indicating that the company now owns these items.
Simultaneously, the accounts payable account is credited to record the liability incurred from purchasing the items on credit. This reflects the company's obligation to pay Doug Equipment Company in the future. The credit entry to accounts payable ensures that the liability is recognized and will be settled when payment is made. This accounting treatment maintains the balance in the company’s financial statements, accurately reflecting the acquisition of assets and the associated liability.
Cole Co. began constructing a building for its own use in January 2016. During 2016, Cole incurred interest of $50,000 on specific construction debt, and $20,000 on other borrowings. Interest computed on the weighted-average amount of accumulated expenditures for the building during 2016 was $40,000. What amount of interest should Cole capitalize? Multiple Choice $20,000 $40,000 $50,000 $70,000
Answer:
The correct answer is 'Option (b)
Explanation:
Cole co. should compare between actual interest incurred on all the debts and the calculated interest on weighted average accumulated expenditure and lower of these two should be capitalized.
Actual interest incurred =$50,000+20,000 = $70,000
Calculated interest = $40,000
Lower of these two to be capitalized for the building during 2011= $40,000
A personnel manager is concerned about absenteeism. She decides to sample employee records to determine if absenteeism is distributed evenly throughout the six-day workweek. The null hypothesis is: Absenteeism is distributed evenly throughout the week. Use the 0.01 level of significance. The sample results are: Day of the Week No. of Employees Absent Monday 12 Tuesday 9 Wednesday 11 Thursday 10 Friday 9 Saturday 9 How many degrees of freedom are there?
Answer:
There are 5 degrees of freedom.
Explanation:
If we want to find the degree of freedom in a chi-square check, the sample size was ' n ' then the number of degrees of freedom to be used in measurements would be n-1.
For a sample size of N=6, measure the degrees of freedom. Subtract 1 (df=6-1=5) from 6. of freedom in chi- square test .
Degree of freedom = (N-1).Degree of freedom = (6-1)Degree of freedom = (5)therefore, the value of df is 5.
Griffin's Goat Farm, Inc., has sales of $796,000, costs of $327,000, depreciation expense of $42,000, interest expense of $34,000, a tax rate of 21 percent, and paid out $95,000 in cash dividends. The common stock outstanding is 80,000 shares. a. What is the earnings per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the dividends per share figure? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
A. Earning Per Share = $3.88 per Share
B. Dividend per Share = $1.99 per Share
Explanation:
Step 1: Calculate the Net Income Before Tax
Sales= $796,000, Cost= $327,000, Depreciation = $42,000, Interest = $34,000
Net Income Before Tax= Income for the period - Expenses
Net Income Before Tax= Sales- Costs- Depreciation- Interest
= $796,000-$327,000-$42,000-#34,000
=$393,000
Step 2: Calculate the Net Income After tax
Net Income After Tax = Net Income Before Tax - Tax for the period
Percentage for Tax (tax rate) = 21%
Tax for the Period = $393,000 x 21%
= $82,530
Net Income After Tax = $393,000- $82, 530
= $310,470
Step 3: Calculate Earnings Per Share
Number of Outstanding Shares = 80,000 Shares
Dividend paid = $95,000
Earnings Per Share = Net Income After Tax/ Number of Shares
= $310,470/80,000
=3.880875 Per Share (intermediate calculations not rounded)
=$3.88 Per Share (rounded to 2 decimal places)
Step 4: Calculate Dividends Per Share
Dividend Per Share = Cash Dividend Paid/ Number of Shares
= $95,000/80,000
=$1.1875 (intermediate calculations not rounded)
=$1.19 Per Share (rounded to 2 decimal places)
Scenario 3: Assume that Jacob had not yet sold the office furniture division by the end of 2016. Further, assume that the fair value less costs to sell of the division's assets at December 31, 2016, was $11.60 million and was expected to remain the same when the assets are sold in 2017. The book value of the division's assets was $18.64 million at the end of the year. Required: Under these assumptions, what would Jacob report in its 2016 income statement regarding the office equipment division? (Enter your answer in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).)
Answer:
According to IAS 36 Impairment of Assets says that impairment must be launched when it is clear that the carrying value of the asset is higher than fair value less cost to sell or value in use.
In this question, we can see that the carrying value which is $18.64m is higher than $11.6m by $7.04m (18.64-11.6).
Dr. Impairment Loss $7.04m
CR. Accumulated Impairment Loss $7.04
The (Dr.) impairment Loss Should be Reported in the statement of comprehensive income as an Expense and (CR.) Accumulated Impairment Loss would reduce the Carrying Amount of the Respective Asset in the balance sheet.
Thomson Trucking has $12 billion in assets, and its tax rate is 25%. Its basic earning power (BEP) ratio is 18%, and its return on assets (ROA) is 4.25%. What is its times-interest-earned (TIE) ratio
The Times-Interest-Earned (TIE) ratio for Thomson Trucking is approximately 5.643. This means the company's operating earnings are about 5.643 times larger than its interest expenses.
The Times-Interest-Earned (TIE) ratio measures a company's ability to cover its interest expenses using its operating earnings. The formula for the TIE ratio is:
TIE Ratio = Earnings Before Interest and Taxes (EBIT) / Interest Expenses
We can use the given information to calculate the TIE ratio step by step:
1. Calculate Earnings Before Interest and Taxes (EBIT):
BEP Ratio = EBIT / Total Assets
EBIT = BEP Ratio * Total Assets
Given BEP Ratio = 18% (0.18)
Total Assets = $12 billion
EBIT = 0.18 * $12 billion
EBIT = $2.16 billion
2. Calculate Interest Expenses:
ROA = Net Income / Total Assets
Net Income = ROA * Total Assets
Given ROA = 4.25% (0.0425)
Total Assets = $12 billion
Net Income = 0.0425 * $12 billion
Net Income = $0.51 billion
Interest Expenses = Net Income * (1 - Tax Rate)
Interest Expenses = $0.51 billion * (1 - 0.25)
Interest Expenses = $0.3825 billion
3. Calculate TIE Ratio:
TIE Ratio = EBIT / Interest Expenses
TIE Ratio = $2.16 billion / $0.3825 billion
TIE Ratio ≈ 5.643
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To calculate the TIE ratio, we need additional information. However, we can still assess Thomson Trucking's financial performance using the BEP and ROA ratios.
Explanation:To calculate the times-interest-earned (TIE) ratio, we need to use the following formula:
TIE = (EBIT / Interest Expense)
Given that we are not provided with the earnings before interest and taxes (EBIT) or the interest expense, we cannot directly calculate the TIE ratio.
However, we are provided with the basic earning power (BEP) ratio which is calculated as:
BEP = EBIT / Total Assets
And the return on assets (ROA) which is calculated as:
ROA = Net Income / Total Assets
Since the BEP and ROA ratios can provide insights into a company's profitability, it is still possible to assess Thomson Trucking's financial performance even without the TIE ratio.
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Indicate whether each of the following costs of an automobile manufacturer would be classified as direct materials cost, direct labor cost, or factory overhead cost:Cost Classificationa. Wheelsb. Glass used in the vehicleâs windshieldc. Wages of assembly line workerd. V8 automobile enginee. Depreciation of robotic assembly line equipmentf. Steering wheelg. Painting safety masks for employees working in the paint roomh. Salary of test driver
Answer:
Following should be the allocation of various costs:
a. Wheels: Direct Material Cost
b.Glass used in the vehicle: Direct Material Cost
c. Glass used in the vehicle windshield: Direct Material Cost
d. Wages of assembly line workers : Direct Labor Cost
e. Automobile engine: Direct Material Cost
f. Depreciation of robotic assembly: Factory Overhead Cost
g. Steering wheel: Direct Material Cost
h. Painting safety masks for employees working in the paint room: Factory Overhead Cost
i. Salary of test driver: Factory Overhead Cost
What is the difference between the personal contact model of communicating on the Web and the mass media approach?
Answer:
Social media relates to all the technology that makes information sharing possible via the Internet. It is largely based on subject matter that users create and share.
Explanation:
Mass media approach: One-to-many
Personal contact approach: one-to-one.
Difference: Sellers are involved in mass media; buyers exchange information passively. Seller and buyer are both active on PC.
It is also the primary communication means used to meet the vast majority of the population. Newspapers, journals, radio, TV and the internet are the most prominent mass media channels.
Final answer:
The difference between the personal contact model and the mass media approach is the scale and nature of interaction. The personal contact model supports personalized, many-to-many communications, ideal for community building and personal expression online. In contrast, the mass media approach is one-to-many, aiming for broad reach with limited audience interaction.
Explanation:
The difference between the personal contact model of communicating on the Web and the mass media approach lies fundamentally in the scale and nature of interactions. The personal contact model, often facilitated by digital media, allows for a more personalized, many-to-many communication. This model enables individuals to share, interact, and develop personal identities within online spaces, serving as accessible points for personal or group expression. Examples include social media interactions, forums, and direct messaging, offering both a platform for individual voices and a space for niche communities to thrive.
Conversely, the mass media approach is a form of one-to-many communication where content is constructed by a relatively small group of media creators and broadcast to a broad audience through widely available channels such as television, radio, and traditional print media. This approach is characterized by its impersonal nature, aiming to reach as many people as possible, often for purposes like advertising, entertainment, or dissemination of news, with limited direct interaction between the content creators and the audience.
Thus, the personal contact model emphasizes interactive, many-to-many communications that foster personal connections and community building online, while the mass media approach focuses on one-to-many communications aiming for wide reach and influence.
If there is unemployment, the average wage rate will decline as the unemployed workers choose lower wages rather than going without a job. The demand curve for labor slopes downward and to the right so that more workers would be hired at the lower wage rate, restoring full employment.
1. According to the Keynesian view, this quote is __________.
a.incorrect because widespread unemployment would cause wages to rise, not decline.
b.incorrect because the demand for labor, other things constant, will not be negatively related to wages.
c.incorrect because wages and prices tend to be highly inflexible downward.
d.essentially correct.
Answer:
The correct answer is c. incorrect because wages and prices tend to be highly inflexible downward.
Explanation:
When there is unemployment the demand curve slopes downwards but wages and prices are inflexible downwards. The above statement is therefore incorrect because the wages and prices are highly inflexible and the workers may not be willing to work for a lower pay. This is highly dynamic and depends on the workers choices and needs.
Alison receives a phone call from an Easy-Wash customer service representative who wants information on her experience with the washer-dryer combination that she had recently purchased and the overall purchase and installation experience. Alison claims that she is extremely satisfied with the purchase and the company's responsiveness.
This customer service practice by Easy-Wash is undertaken to:
A. offer the customer a substantial assessment of available alternatives by providing a marketing source of information
B. help the customer in the process of alternative evaluation
C. reduce the perceived psychosocial risks associated with the decision to purchase the product
D. reduce the possibility of postpurchase dissonance in Alison's mind
Answer:
The customer service practice by Easy-Wash is undertaken to help the customer in the process of alternative evaluation.
Option: (B)
Explanation:
In order to retain the customer for a long time, the Easy-Wash customer service attempts to plant a thought in the customer's mind about how her decision of buying the Easy-Wash product was a good decision. Through the call made by the customer service executive, the company successfully reinforced the thought in the customer's mind that Easy-Wash is the best choice above all.Easy-Wash's follow-up call to Alison is a customer service strategy to reduce postpurchase dissonance, which is the regret or doubt a consumer might feel after a purchase.
Explanation:The customer service practice undertaken by Easy-Wash in calling Alison to get feedback on her experience with the washer-dryer combination is primarily aimed at reducing the possibility of postpurchase dissonance in Alison's mind. Postpurchase dissonance is a form of regret or doubt that consumers may experience after making a purchase, and it is particularly common with expensive or highly important items. By checking in with customers after their purchase to ensure satisfaction, Easy-Wash is proactively addressing any potential concerns and reassuring the customer about their decision, which can enhance customer loyalty and reduce the likelihood of returns or negative word-of-mouth.
The supply curve of reserves in an economy is horizontal when :
A) the federal funds rate is greater than the seasonal credit discount rate.
B) the federal funds rate is less than the secondary credit discount rate.
C) the federal funds rate equals the primary credit discount rate.
D) the federal funds rate is less than the primary credit discount rate.
Answer:
Option "C" is the correct answer to the following statement.
Explanation:
In a system, the supply curve of assets is longitudinal when the inflation rate is equivalent to the main credit rate of return.
The fund's rate is the exchange rate companies charge each other on loans that are used to satisfy capital requirements. Often, the inflation rate is puzzled with the rate of return, which is the rate of interest charged directly by the Federal reserve on credit. But they're not quite the same.
Therefore, option "C" is the correct answer.
A company began the year with $500 in raw materials and purchased $10,250 more during the year. If the company has $725 in raw materials at the end of the year, then they would report direct materials used of___________ $ on the schedule of cost of goods manufactured.
Answer:
$10,025
Explanation:
Given that,
Company's Beginning Raw materials = $500
Purchases = $10,250
Company's Ending Raw Materials = $725
Hence,
Direct Materials Used:
= Beginning Raw materials + Purchases - Ending Raw Materials
= $500 + $10,250 - $725
= $10,025
Therefore, they would report direct materials used of $10,025.
The Direct Materials Used in the manufacturing process by the company, according to the data given, is $10,025.
Explanation:The question is about calculating the Direct Materials Used in a company's manufacturing process. It's a concept within managerial accounting. We start with the beginning inventory of the raw materials, here it is $500. Then, we add the purchases of raw materials that is $10,250. This results a total available raw materials of $10,750. From that we subtract the ending inventory of raw materials ($725). Mathematically this will be $10,750 - $725 = $10,025. Therefore, the company would report $10,025 as Direct Materials Used on the schedule of cost of goods manufactured.
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a. Find the FV of $1,000 invested to earn 10% annually 5 years from now. Answer this question by using a math formula and also by using the Excel function wizard,
Inputs: PV = 1000
I/YR = 10%
N = 5
Formula: FV = PV(1+I)^N =
Wizard (FV): $1,610.51
Answer:
$1,610.51 (in both calculation)
Explanation:
1. Using Math formula,
We know, Future value, FV = PV × [tex](1 + i)^{n}[/tex]
Given,
Present Value, PV = $1,000
Interest, i = 10% = 0.10
Number of periods, n = 5 years
Putting the values in the formula, we can get,
Future value, FV = PV × [tex](1 + i)^{n}[/tex]
FV = $1,000 × [tex](1 + 0.10)^{5}[/tex]
or, FV = $1,000 × 1.61051
Therefore, FV = $1,610.51
2. Using excel formula,
See the image below:
We have to use present value as negative so that the result should be used as positive.
Answer:=$1,610.51
Explanation:
PV=$1,000
I=10%
N=5
The cost of the employee who computes total manufacturing costs would be considered:
a)Manufacturing overhead.
b)Administrative costs.
c)Direct labor.
d)Indirect labor.
Answer:
The correct answer is letter "B": Administrative costs.
Explanation:
Administrative costs are those expenses incurred in a company and do not belong to the production or regular operations of the business. These are costs at the corporate level such as the salaries of senior executives or general services such as accounting, and contracting.
Which of the following cultural characteristics relates to the degree to which groups within the organization are encouraged to operate in a coordinated or independent manner?
Team emphasis
Unit integration
Member identity
Managerial focus
Answer:
managerial focus
Explanation:
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Which of the following hiring procedures provides the most control over the accuracy of information submitted on an employment application?a)Applicants are required to submit unofficial copies of their transcripts along with the application as verification of their educational credentials.b)The hiring organization calls the last place of employment for each finalist to verify the employment length and position held. c)Letters of recommendation which attest to the applicant’s character must be mailed directly to the hiring organization rather than being submitted by the applicant.d)Applicants are required to sign that the information on the applicant is true and correct as a confirmation of the truth of the information in the application
Answer:
The correct answer is letter "B": The hiring organization calls the last place of employment for each finalist to verify the employment length and position held
Explanation:
Hiring companies require several pieces of information to applicants to verify the information they re including in their resumes is valid. Though, to get better job positions, some applicants may manipulate that data. Thus, if the hiring company reaches the last companies where the applicants are stating they worked, the hiring company could verify for how long they worked there, their position and the reason why the applicant is not part of the organization anymore.