On April 1, 2021, John Vaughn purchased appliances from the Acme Appliance Company for $1,200. In order to increase sales, Acme allows customers to pay in installments and will defer any payments for six months. John will make 18 equal monthly payments, beginning October 1, 2021. The annual interest rate implicit in this agreement is 24%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required:Calculate the monthly payment necessary for John to pay for his purchases. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)
Answers
Answer:
Monthly Payment = $58.91560841 rounded off to $59
Explanation:
First we need to compute the Future value of $800 after 6 months at an interest rate of 24%.
We will convert the 24% annual rate into monthly rate and use the monthly compounding period to calculate the future value.
FV Factor = (1 + r)^t
FV factor = (1 + 0.24/12)^0.5*12
FV Factor = 1.126162419
FV after 6 months = 800 * 1.126162419
FV after 6 months = $900.9299354
Now we need to calculate the monthly payment for an annuity due of 18 months at a monthly rate of 2% (24% / 12) that has a present value equal to 900.9299354.
The formula for the present value of annuity due is attached.
900.9299354 = Monthly Payment * [( 1 - (1+0.02)^-18) / 0.02] * (1+0.02)
900.9299354 = Monthly Payment * 15.29187188
900.9299354 / 15.29187188 = Monthly Payment
Monthly Payment = $58.91560841 rounded off to $59
Related Questions
Suppose the civilian noninstitutionalized working age population is 35.9 million in Laborland, 4.4 million are working part time, and 13.19 million are working full time. Laborland used the Bureau of Labor Statistics (BLS) definitions for unemployment data. Among those not working, the most recent job search activity for 3.40 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 12.33 million who don\'t have jobs have not looked for work in the past six weeks.
Required:
a. What is Laborland's total labor force?
b. What is Laborland's labor force participation rate?
c. How many people are unemployed in Laborland?
d. What is Laborland's unemployment rate?
Answers
Explanation:
1
Total labor force = employed + unemployed
Employed = full time + part time
= 4.4million + 13.19million
= 17.59 million
Unemployed = 3.40 + 1.72
= 5.12
Therefore,
Labour force = 17.59 + 5.12
= 22.71 million
2.
Labour force participation rate = labour force/working age of non-institutional working population
= 22.71/35.9
= 0.6326 x 100
= 63.26%
3.
Unemployed = 3.40 + 1.72
= 5.12 million people
4.
Unemployment rate = number of unemployed person/ labour force
= 5.12/22.71
= 0.2255 x 100
= 22.55%
Required information The Foundational 15 [LO6-1, LO6-2, LO6-3, LO6-4, LO6-5] [The following information applies to the questions displayed below.] Diego Company manufactures one product that is sold for $73 per unit in two geographic regions—the East and West regions. The following information pertains to the company’s first year of operations in which it produced 56,000 units and sold 51,000 units. Variable costs per unit: Manufacturing: Direct materials $ 24 Direct labor $ 16 Variable manufacturing overhead $ 2 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 784,000 Fixed selling and administrative expense $ 672,000 The company sold 38,000 units in the East region and 13,000 units in the West region. It determined that $300,000 of its fixed selling and administrative expense is traceable to the West region, $250,000 is traceable to the East region, and the remaining $122,000 is a common fixed expense. The company will continue to incur the total amount of its fixed manufacturing overhead costs as long as it continues to produce any amount of its only product. Foundational 6-7 7. What is the amount of the difference between the variable costing and absorption costing net operating incomes (losses)?
Answers
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Variable costing income statement:
Total unitary variable production cost= (24 + 16 + 2 + 3)= $45
Sales= 73*51,000= 3,723,000
Total variable cost= 51,000*45= (2,295,000)
Contribution margin= 1,428,000
Fixed manufacturing overhead= (784,000)
Fixed selling and administrative expense= (672,000)
Net operating income= (28,000)
Absorption costing income statement:
Unitary production cost= (24 + 16 + 2) + (784,000/56,000)
Unitary production cost= $56
Sales= 73*51,000= 3,723,000
COGS= 51,000*56= (2,856,000)
Gross profit= 867,000
Total selling and administrative= 672,000 + 3*51,000= (825,000)
Net operating income= 42,000
The difference between both methods is the fixed manufacturing overhead allocated in ending inventory.
The Almer Group announced its decision to merge with Dover Global Solutions. This is an example of a(n):
Answers
An example of firm merger is when Almer Group announced its decision to merge with Dover Global Solutions.
What is a firm merger?A firm merger refers to an formal arrangement whereby two or more existing companies unites into one new company.
Therefore, when Almer Group announced its decision to merge with Dover Global Solutions, it is an example of firm merger.
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Coatney Incorporated has provided the following data for the month of October. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In Process Finished Goods Cost of Goods Sold Total Direct materials $ 3,760 $15,870 $ 76,130 $ 95,760 Direct labor 2,400 12,420 59,580 74,400 Manufacturing overhead applied 1,950 6,240 30,810 39,000 Total $ 8,110 $34,530 $166,520 $209,160 Manufacturing overhead for the month was overapplied by $7,000. The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts. The finished goods inventory at the end of October after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:
Answers
Answer:
$33,410
Explanation:
The computation of Ending finished goods inventory after allocation of underapplied or overapplied manufacturing overhead is shown below:-
Ending finished goods inventory after allocation of overapplied manufacturing overhead
= (Total of finished goods - (Manufacturing overhead applied of finished goods ÷ Total of Manufacturing overhead applied) × Overapplied amount
= ($34,530 - ($6,240 ÷ $39,000) × $7,000)
= $34,530 - $1,120
= $33,410
a. Raw materials purchased on account, $209,000.
b. Raw materials used in production, $191,000 ($152,800 direct materials and $38,200 indirect materials).
c. Accrued direct labor cost of $48,000 and indirect labor cost of $20,000.
d. Depreciation recorded on factory equipment, $106,000.
e. Other manufacturing overhead costs accrued during October, $131,000.
f. The company applies manufacturing overhead cost to production using a predetermined rate of $5 per machine-hour. A total of 76,100 machine-hours were used in October.
g. Jobs costing $515,000 according to their job cost sheets were completed during October and transferred to Finished Goods.
h. Jobs that had cost $451,000 to complete according to their job cost sheets were shipped to customers during the month. These jobs were sold on account at 38% above cost.
Required:
1. Prepare journal entries to record the transactions given above.
2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account.
Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $35,000.
Answers
Answer:
1. Journal Entries
a.
Debit Raw materials $209,000
Credit Accounts Payable $209,000
To record the purchase of raw materials on account.
b.
Debit Work in Process $152,800
Debit Manufacturing Overhead $38,200
Credit Raw materials $191,000
To record raw materials used in production as direct and indirect materials respectively.
c.
Debit Work in Process $48,000
Debit Manufacturing Overhead $20,000
To record direct and indirect labor costs.
d.
Debit Manufacturing Overhead $106,000
Credit Depreciation Expense-Equipment $106,000
To record depreciation on factory equipment.
e.
Debit Manufacturing Overhead $131,000
Credit Expenses Payable $131,000
To accrue other manufacturing overhead costs.
f.
Debit Work in Process $380,500
Credit Manufacturing Overhead $380,500
To apply manufacturing overhead cost to production.
g.
Debit Finished Goods Inventory $515,000
Credit Work in Process $515,000
To transfer goods to finished goods inventory.
h.
Debit Cost of Goods Sold $451,000
Credit Finished Goods Inventory $451,000
To record the cost of goods sold.
Debit Accounts Receivable $622,380
Credit Sales Revenue $622,380
To record the sale of goods on account at 38% above cost.
2. T-accounts for Manufacturing Overhead and Work in Process
Manufacturing Overhead
Account Title Debit Credit
Raw materials $38,200
Indirect labor cost 20,000
Depreciation-Equip. 106,000
Other costs 131,000
Work in Process $380,500
Ending balance 85,300
Work in Process
Account Title Debit Credit
Beginning Balance $35,000
Raw materials 152,800
Direct labor cost 48,000
Manuf. Overhead 380,500
Finished Goods $515,000
Ending Balance 101,300
Explanation:
Manufacturing overhead applied = 76,100 * $5 = $380,500
Manufacturing overhead overapplied = $85,300
Lydia Hagberg went to her bank, California Federal Bank, FSB, to cash a check made out to her by Smith Barney (SB), an investment services firm. Nolene Showalter, a bank employee, suspected that the check was counterfeit. Showalter called SB and was told that the check was not valid. As she phoned the police, Gary Wood, a bank security officer, contacted SB again and was informed that its earlier state3ment was "erroneous" and that the check was valid. Meanwhile, a police officer arrived, drew Hagberg away from the teller’s window, spread her legs, patted her down, and handcuffed her. The officer searched her purse, asked her whether she had any weapons and whether she was driving a stolen vehicle, and arrested her. Hagberg filed a suit in a California state court against the bank and others, alleging slander.
Required:
Should the absolute privilege for communications made in judicial or other official proceedings apply to statements made when a citizen contracts the police to report suspected criminal activity? Explain fully why or why not?
Answers
Answer:
Yes the absolute privilege for communications made in judicial or other official proceedings apply to statements made when a citizen contracts the police to report suspected criminal activity
Explanation:
Absolute priviledge for communication is the provision that covers a person from legal action on grounds of defamation for statements made. Under certain circumstances a person can make defamatory statements and be immune from legal action.
In this scenario Lydia Harberg went to California Federal Bank to cash a check that was suspected to be fake.
Nolene Showalter contacted SB to confirm. Based on the information provided at that time, the check was confirmed to be fake. The implication was that a fraud was being perpetrated.
So his action of calling the police is justified. SB only verified they gave out wrong information the first time
Bloom’s has the following estimates for the upcoming year:
Activity Cost Pool Estimated Overhead Cost Activity Rate
Machine-hours $63,450 $2.70 per machine-hour
Machine setups $45,900 $170 per setup
Product testing $119,000 $119 per test
Cost and activity information for two of Bloom’s products is as follows:
P34 W85
Direct materials $33,500 $29,750
Direct labor $18,500 $26,000
Machine-hours 1,470 1,170
Machine setups 22 77
Tests 47 47
Number of units
produced during the year 10,000 25,000
Required:
Compute the unit product cost for product P34.
Answers
Bloom’s has the following estimates for the upcoming year:
Activity Cost Pool Estimated Overhead Cost Activity Rate
Machine-hours $63,450 $2.70 per machine-hour
Machine setups $45,900 $170 per setup
Product testing $119,000 $119 per test
Cost and activity information for two of Bloom’s products is as follows:
P34 W85
Direct materials $33,500 $29,750
Direct labor $18,500 $26,000
Machine-hours 1,470 1,170
Machine setups 22 77
Tests 47 47
Number of units
produced during the year 10,000 25,000
Required:
Compute the unit product cost for product P34.Bloom’s has the following estimates for the upcoming year:
Activity Cost Pool Estimated Overhead Cost Activity Rate
Machine-hours $63,450 $2.70 per machine-hour
Machine setups $45,900 $170 per setup
Product testing $119,000 $119 per test
Cost and activity information for two of Bloom’s products is as follows:
P34 W85
Direct materials $33,500 $29,750
Direct labor $18,500 $26,000
Machine-hours 1,470 1,170
Machine setups 22 77
Tests 47 47
Number of units
produced during the year 10,000 25,000
Required:
Compute the unit product cost for product P34.Bloom’s has the following estimates for the upcoming year:
Activity Cost Pool Estimated Overhead Cost Activity Rate
Machine-hours $63,450 $2.70 per machine-hour
Machine setups $45,900 $170 per setup
Product testing $119,000 $119 per test
Cost and activity information for two of Bloom’s products is as follows:
P34 W85
Direct materials $33,500 $29,750
Direct labor $18,500 $26,000
Machine-hours 1,470 1,170
Machine setups 22 77
Tests 47 47
Number of units
produced during the year 10,000 25,000
Required:
Compute the unit product cost for product P34.
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Fire Out Company manufactures its product, Vitadrink, through two manufacturing processes:
Mixing and Packaging.
All materials are entered at the beginning of each process. On October 1, 2020, inventories consisted of Raw Materials $26,000, Work in ProcessâMixing $0, Work in ProcessâPackaging $251,200, and Finished Goods $293,400. The beginning inventory for Packaging consisted of 14,900 units that were 50% complete as to conversion costs and fully complete as to materials. During October, 52,700 units were started into production in the Mixing Department and the following transactions were completed.
1. Purchased $300,000 of raw materials on account.
2. Issued raw materials for production: Mixing $210,000 and Packaging $45,000.
3. Incurred labor costs of $258,900.
4. Used factory labor: Mixing $182,500 and Packaging $76,400.
5. Incurred $810,000 of manufacturing overhead on account.
6. Applied manufacturing overhead on the basis of $24 per machine hour. Machine hours were 28,000 in Mixing and 6,000 in Packaging.
7. Transferred 45,000 units from Mixing to Packaging at a cost of $979,000.
8. Transferred 53,000 units from Packaging to Finished Goods at a cost of $1,315,000.
Sold goods costing $1,604,000 for $2,500,000 on account.
.
No. Account Titles and Explanation Debit Credit
1
2
3
4
5
6
7
8
9
Answers
Answer:
Entries are given
Explanation:
We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.
Account DEBIT CREDIT
1
raw material inventory 300,000
accounts payable 300,000
-
2
work in process inventory- Mixing 210,000 -
work in process inventory- Packaging 45,000
raw material inventory 255,000
-
3
Factory payroll 258,900 -
Wages payable 258,900
-
4
work in process Labor- Mixing 182,500 -
work in process Labor Packaging 76,400
Factory payroll 258,900
-
5
Manufacturing overhead 810,000 -
overhead payable 810,000
-
6
work in process Mixing 672,000 -
work in process Packaging 144,000
Manufacturing overhead 816,000
-
7
work in process Labor Packaging 979,000 -
work in process Labor- Mixing 979,000
-
8
Finished goods 1,315,000 -
work in process Labor Packaging 1,315,000
-
9
Accounts receivable 2,500,000 -
Sales 2,500,000
-
Cost of goods sold 1,604,000 -
Finished goods 1,604,000
The entries of No. Account Titles and Explanation Debit Credit of Fire Out Company manufactures its product, Vitadrink is given below:
We will record assets and expenses on the debit as they increase during the year and will record liabilities and capital on the credit side as they increase during the year or vice versa.
Account DEBIT CREDIT
1
raw material inventory 300,000
accounts payable 300,000
2
work in process inventory- Mixing 210,000 -
work in process inventory- Packaging 45,000
raw material inventory 255,000
3
Factory payroll 258,900 -
Wages payable 258,900
4
work in process Labor- Mixing 182,500 -
work in process Labor Packaging 76,400
Factory payroll 258,900
5
Manufacturing overhead 810,000 -
overhead payable 810000
6
work in process Mixing 672,000 -
work in process Packaging 144,000
Manufacturing overhead 816,000
7
work in process Labor Packaging 979,000 -
work in process Labor- Mixing 979,000
8
Finished goods 1,315,000 -
work in process Labor Packaging 1,315,000
9
Accounts receivable 2,500,000 -
Sales 2,500,000
Cost of goods sold 1,604,000 -
Finished goods 1,604,000
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Lena Kay and Kathy Lauder have a patent on a new line of cosmetics. They need additional capital to market the products, and they plan to incorporate the business. They are considering the capital structure for the corporation. Their primary goal is to raise as much capital as possible without giving up control of the business. Kay and Lauder plan to invest the patent in the company and receive 100,000 shares of the corporation's common stock. They have been offered $100,000 for the patent.
The corporation’s plans for a charter include an authorization to issue 5,000 shares of preferred stock and 500,000 shares of $1 par common stock. Kay and Lauder are uncertain about the most desirable features for the preferred stock. Prior to incorporating, they are discussing their plans with two investment groups. The corporation can obtain capital from outside investors under either of the following plans:
Plan 1. Group 1 will invest $150,000 to acquire 1,500 shares of 6%, $100 par nonvoting, noncumulative preferred stock.
Plan 2. Group 2 will invest $100,000 to acquire 1,000 shares of $5, no-par preferred stock and $70,000 to acquire 70,000 shares of common stock. Each preferred share receives 50 votes on matters that come before the common stockholders.
Assume that the corporation is chartered.
Required:
a. Journalize the issuance of common stock to Kay and Lauder.
b. Journalize the issuance of stock to the outsiders wider both plans.
c. Net income for the first year is $180,000 and total dividends are $30,000. Prepare the stockholders' equity section of the corporation's balance sheet under both plans.
Answers
a. The journalizing of the issuance of common stock to Kay and Lauder is as follows:
Debit Patent $100,000
Credit Common Stock $100,000
Issuance of 100,000 shares at $1 each.b. The journalizing of the issuance of stock to the outsiders under both plans is as follows:
Plan 1:
Debit Cash $150,000
Credit 6% Preferred stock $150,000
Issuance of 1,500 shares at $100 par.Plan 2:
Group 2:
Debit Cash $100,000
Credit Preferred stock, 1,000 shares at $5, $5,000
Credit Additional Paid-in Shares: Preferred $95,000
Issuance of 1,000 shares at $5 each for $100,000.Debit Cash $70,000
Credit Common Stock $70,000
Issuance of 70,000 shares at $1c. The Stockholders' Equity Section of the Kay and Lauder Corporation is as follows:
Stockholders Equity:
Plan 1:
6% Preferred stock, 1,500 shares at $100, $150,000
Common stock $100,000
Plan 2:
Preferred stock, 1,000 shares at $5, $5,000
Additional Paid-in Shares: Preferred $95,000
Data and Calculations:Value of Patent = $100,000
Authorized preferred stock = 5,000 shares
Authorized common stock = 500,000 shares at $1 par value
Plan 1:
Group 1:
6% Preferred stock, 1,500 shares at $100 par = $150,000
Plan 2:
Group 2:
Preferred stock, 1,000 shares at $5 = $5,000
Additional Paid-in Shares: Preferred = $95,000 ($100,000 - $5,000)
Common Stock, 70,000 shares at $1 = $70,000
Voting shares = 50,000 (1,000 x 50)
Net income $180,000
Plan 1: Dividends:
Preferred dividend $9,000
Common stock 21,000
Total dividends ($30,000)
Retained earnings $150,000
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Mason (single) is a 50 percent shareholder in Angels Corp. (an S Corporation). Mason receives a $180,000 salary working full time for Angels Corp. Angels Corp. reported $400,000 of taxable business income for the year (2020). Before considering his business income allocation from Angels and the self-employment tax deduction (if any), Mason’s adjusted gross income is $180,000 (all salary from Angels Corp.).
Required:
What is Mason’s net investment income tax liability (assume no investment expenses)?
Answers
Answer:
$6,840
Explanation:
Given that:
Mason receives a salary amount of $180,000
Taxable business income = $400,000 × 50%
Adjusted Gross Income = $180,000 + $200000
Adjusted Gross Income = $380000
The net investment income tax liability is:
= (380000 -200000) × 3.8%
= 180000 × 3.8%
= $6,840
Illustrate your understanding of socially responsible practices/alternatives that are required to are required to reduce Shell’s carbon emissions by 45% through having a discussion that includes and highlights specific examples of socially responsible practices/alternatives
Answers
Socially responsible practices were required by the Dutch court for Shell to reduce carbon emissions by 45% by 2030. The company has adopted some practices to achieve this end, such as:
Maximize renewable energyPromote the use of natural gasOffset carbon emissionsWhat is the relevance of socio-environmental practices?Environmentally responsible practices help an organization generate value for its stakeholders through corporate governance focused on the development of society and the preservation of natural resources.
Therefore, by adopting responsible practices, companies attract investors and achieve more positioning and competitiveness in the market.
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A marketing practice whose goal is to generate traffic from search engines through both paid and unpaid efforts is called : __________
a. search marketing.
b. sentiment marketing.
c. social media marketing.
d. content marketing.
e. digital marketing.
Answers
Answer:
ahm... the answer is A and I hope i can help more just focus in your study
Question 14
A business could attribute a rise in sales to a radio advertising campaign if
o other businesses in the area had a similar rise.
O the radio ads were the only promotion at the time.
O people used the Internet to listen to the radio.
O one customer mentioned that she heard the ad on the radio.
Answers
The reason that businesses could attribute to a rise in sales to a radio advertising campaign is that the radio ads were the only promotion at the time.
Why would radios lead to a rise in sales?When sales rise it is usually the result of a increased promotional campaign aimed at getting customers to buy goods and services.
If there is a rise in sales and radio ads are the only way to promote a company in a certain area, then it means that the radio ads are the reason the sales increased.
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HELP PLEASE!!!!!
This industry removes the raw materials from the land and modifies them for human use.
Choose the answer.
Question 20 options:
wholesale
subcontracting
extractive
retail
Answers
Question 1: Describe the meaning of a database and provide 3 reasons why businesses need
to use it?
Answers
The income statement of Carla Vista Co. for the month of July shows net income of $4,000 based on Service Revenue $7,750, Salaries and Wages Expense $2,140, Supplies Expense $960, and Utilities Expense $650. In reviewing the statement, you discover the following:_______.
1. Insurance expired during July of $530 was omitted.
2. Supplies expense includes $360 of supplies that are still on hand at July 31.
3. Depreciation on equipment of $180 was omitted.
4. Accrued but unpaid wages at July 31 of $380 were not included.
5. Service performed but unrecorded totaled $800.
Required:a. What effect do the corrections have on the amount reported as total assets on the balance sheet?b. What effect do the corrections have on the amount reported as total liabilities on the balance sheet?
Answers
Answer:
a. Assets increase by $450
b. Liabilities increase by $380
Explanation:
a. Effect on Assets
= Supplies omitted + Unrecorded services - omitted insurance - depreciation
= 360 + 800 - 530 - 180
= +$450
b. Effect on Liabilities
Wages are accrued and unpaid. Company owes these wages which makes it a liability.
Effect on liability = +$380
Labuk is a 20-year employee of Whirley Corporation. During his career with Whirley, Labuk has felt uncomfortable with his supervisor, Bob, because of his behavior. On one occasion, Bob told him that foreigners should stop seeking jobs in the United States if they cannot perform. On another occasion, Bob yelled at Labuk and called him an "idiot." Which of the following may be true in this case?
a. Labuk does not have a harassment claim based on national origin because these two incidents, although offensive, do not create a hostile work environment.
b. Labuk does not have a harassment claim based on national origin because the Fair Labor Standards Act (FLSA) allows employers to discriminate in favor of U.S. citizens.
c. Labuk has a harassment claim based on national origin because Title VII of the Civil Rights Act of 1964 provides protection against discrimination based on country of citizenship.
d. Labuk has a harassment claim based on national origin under Title VII of the Civil Rights Act of 1964 because he belongs to a protected racial class.
Answers
Answer:
a. Labuk does not have a harassment claim based on national origin because these two incidents, although offensive, do not create a hostile work environment.
Explanation:
In order for Labuk to have a valid harassment claim, his supervisor must have created an offensive and hostile work environment. Apparently, the supervisor's bad attitude is not shared by Labuk's colleagues, at least it doesn't say so in the question.
The supervisor's attitude might not have been appropriate, but two incidents in 20 years is something can happen to anyone and not just Labuk. Imagine how many times an employee might argue or have some type of dispute with a supervisor during 20 years. Labuk should have reported both incidents to a company's manager.
In your opinion, what are the main challenges that our country is facing? And what are the possible smart solutions recommended?
Answers
Answer:
Can you please tell me what country it is
P Service Company has budgeted direct labor hours of 100 and direct labor cost per hour of $25 for data analysis personnel and budgeted direct labor hours of 50 and direct labor cost per hour of $30 for staff accountants. JP Service Company's cost of direct labor is
Answers
Based on the cost rate for the direct labor of P Service Company, the cost of direct labor would be $2,500.
What is the cost of direct labor?This is the amount that is budgeted to be paid to those that are directly involved in the provision of services by P Service company.
This includes the data analysis personnel only:
= (100 x 25)
= $2,500
In conclusion, the cost of direct labor is $2,500.
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Answer:
4000
Explanation:
direct labor hours 100
direct labor cost per hour data $25
budgeted direct labor hours 50
direct labor cost per hour $30
(100 x 25)+(50 x 30) = 4000
What is an advantage of renting a place to live?
lower front costs
payments chance from month to month
low down payment
increase equity over time
Answers
Answer:
lower front costs
Explanation
Owning a home requires some substantial capital outlay. Due to the high-cost involved upfront, people who cannot raise a lot of money at once opt to rent.
Renting a house requires a lot less money as compared to owning a home. One needs to find a house whose rent obligation is within their means. He or she engages the landlord and sign a tenancy agreement. Once the deposit and rent are paid as agreed with the landlord, they can start living in the house.
What is a dashboard? What are the elements? and how is it useful for
managers?
Answers
Answer:
Contains series of information of a personal details
Explanation:
To know their statistics day to day of how things are going on.
On September 3, 2003, the finance ministers of G7 industrialized countries endorsed "flexibility" in exchange rates, a code word widely regarded as an encouragement for China and Japan to stop managing their currencies. Both countries have been actively intervening in the foreign exchange market to weaken their currencies against the dollar and thereby improve their exports. China and Japan had been seen buying billions of dollars in U.S. Treasury bonds. The G7 statement prompted massive selling of the U.S. dollar and dollar assets. The dollar fell 2% against yen, the biggest one-day drop that year, and U.S. Treasury bonds saw a steep decline in value as well.
Required:
a. How did China and Japan manage to weaken their currencies against the dollar?
b. Why did the U.S. dollar and U S. Treasury bonds fall in response to the G7 statement?
c. What is the link between currency intervention and China and Japan buying U.S. Treasury bonds?
d. What risks do China and Japan face from their currency intervention?
Answers
Answer:
a. How did China and Japan manage to weaken their currencies against the dollar?
Both countries managed to weaken their currencies by purchasing a lot of US government securities, therefore, increasing imports of financial assets which caused their trade surplus to balance or even become a deficit. Japan is not currently carrying out this policy anymore, but China is a different story.
China is a mixed economy where private firms are co-owned by the government, and they are highly regulated. Also, only private firms that are friendly with government officials prosper. E.g. back in March, one of China's richest businessman criticized the government and its handling of the current health crisis, and he was thrown into jail and sentenced to 18 years in prison.
This results in the Chinese government having a lot of power to guide how Chinese corporations work. The Chinese government artificially undervalued the yuan by purchasing foreign securities (not only US bonds, but also European bonds). Even though China has a trade surplus, its currency didn't appreciate like a normal currency would. This allows Chinese products to be cheaper and more competitive.
Even when the Chinese government said that they (as the government) would stop purchasing foreign securities, they ordered Chinese companies to do so. At the end the result was the same, China balances its currency through purchases of foreign securities either directly or indirectly (through companies co-owned by the government).
b. Why did the U.S. dollar and U S. Treasury bonds fall in response to the G7 statement?
Japan decided to stop purchasing US securities like crazy, and since the demand for US securities dropped dramatically, plus some US securities were sold by Japan (increased supply), the equilibrium price shifted. It is simple and basic law of supply and demand. Supply increases while the demand falls, the equilibrium price will decrease.
c. What is the link between currency intervention and China and Japan buying U.S. Treasury bonds?
Currencies appreciate or depreciate based mainly on the balance of payments between countries. If the US starts to buy a lot of goods from Brazil, and Brazilians do not buy US goods, then the price of the Brazilian real will appreciate against the US dollar. This will make Brazilian goods more expensive, making US consumers purchase less Brazilian goods which will eventually balance the value of the currencies back to normal.
The problem with China and Japan (as explained before) is that they have huge trade surpluses with the US. But in order to prevent their currencies from appreciating against the US dollar, the governments purchased US securities. That way their balance of payments balanced and their currencies were not affected.
d. What risks do China and Japan face from their currency intervention?
It makes imported goods artificially expensive. This favors domestic production but eventually hurts consumers. E.g. in China there are a lot of cheap domestic cars that are lets say, not the best cars you can find, and they would not be sold in developed countries like the US. But if you want a decent car, like an Accord, that costs around $30,000 in the US (medium trim), you will have to pay at least twice as much in China.
No country in the world can simply decide to only export goods and not import anything. It just doesn't work. trade goes back and forth. This is the same reason why President Trump's idea of restricting imports to the US didn't work, and never will. You can benefit a certain group of people or industries by restricting imports, but eventually the rest of the economy suffers.
Japan is an absurdly expensive country because it needs to import a lot of goods, but it artificially makes imports more expensive. The same thing happens to China. Chinese products are cheap, but China needs a lot imports also, e.g. food. China is not able to produce enough food to feed its people, and it imports most of the food that is consumed there. By selling expensive food, you are hurting the middle and lower classes. Of course this will not affect a millionaire, but 95% of Chinese are either poor or middle class.
Suppose you are a euro-based investor who just sold Microsoft shares that you had bought six months ago. You had invested 10,000 euros to buy Microsoft shares for $120 per share; the exchange rate was $0.97 per euro. You sold the stock for $189 per share and converted the dollar proceeds into euro at the exchange rate of $0.88 per euro. First, determine the profit from this investment in euro terms. Second, compute the rate of return on your investment in euro terms. How much of the return is due to the exchange rate movement
Answers
a) The profit from the investment is 7,360 euros.
b) The rate of return is 73.6%.
c) The amount of the return due to the exchange rate movement is 1,610 euros.
Data and Calculations:Investment in Microsoft Corporation = 10,000 euros
Price per share = $120
Exchange rate = $0.97 per euro
Number of shares bought = 80.93 shares (10,000 euros x $0.97)$120
Selling price per share = $189
Sales proceeds = $15,277.50 (80.93 x $189)
Sales proceeds in euro = 17,360.80 euros ($15,277.50/$0.88)
a) Profit from the investment = 7,360 euros (17,360.80 - 10,000)
b) Rate of return = 73.6% (7,360/10,000 x 100)
Profit from the investment based on an exchange rate of $0.97 = 15,750 euros ($15,277.50/$0.97)
c) Amount of the return due to the exchange rate movement = 1,610 euros (17,360 - 15,750).
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The senior managers of a grocery store chain have a disagreement over the direction of the company. One faction wants to leverage its capabilities and core competencies to take advantage of the opportunities provided by a stronger online presence, including online ordering with both at-store pickup and home delivery. The other faction feels that the company's strengths lie in small, convenient neighborhood stores and the customer service that accompany an in-store shopping experience. The online expansion would be a departure from what the company already knows how to do and would require a significant investment. Those in favor of the changes feel that the potential returns make the investment worthwhile. What concept are those in favor of change struggling against
Answers
Answer: d. Core rigidity
Explanation:
Core rigidity refers to the tendency of companies that are successful in the market to become comfortable in their position because they feel their core mode of operations is fine. They will therefore abandon or significantly reduce improvement efforts which usually ends badly because competitors will keep improving.
Those in favor of the change are struggling against a Core Rigidity mindset in the people opposed to the move because those ones want to remain in their current strengths instead of trying to improve operations.
Which of the following is a potential cause of relationship conflict?
a. ambiguities regarding the tasks to be accomplished
b. differences in goals, objectives, and perspectives
c. scarcity of resources to accomplish the group's goals
d. dissimilarities in the composition of the membership of the group
Answers
It should be noted that a potential cause of relationship conflict is b. differences in goals, objectives, and perspectives.
What is Relationship conflict?Relationship conflict can be regarded as the disagreement between people.
It is a when people have different perspective of seeing things.
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Complete the below table to calculate the price of a 1.7 million bond issue under each of the following independent assumptions:
Use appropriate factors from tables.
1. Maturity 12 years, interest paid annually, stated rate 10%, effective (market) rate 12%
2. Maturity 20 years, interest paid semiannually, stated rate 10%, effective (market) rate 12%
3. Maturity 10 years, interest paid semiannually, stated rate 12%, effective (market) rate 10%
4. Maturity 20 years, interest paid semiannually, stated rate 12%, effective (market) rate 10%
5. Maturity 20 years, interest paid semiannually, stated rate 12%, effective (market) rate 12%
Chart: n= i= Cash flow Amount Present Value Interest: Principal: Price of Bonds:
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Full question attached
Answer and Explanation:
Answer and explanation attached
Feeling regret or concern after making a large purchase
Answers
Answer:
You are feeling buyer's remorse. This is normal and it is ok to feel this way. Money comes and goes you will have the money back soon.
A U.S. business sells milk to consumers in France. Which situation would most likely cause demand for milk to rise in France?
A. A popular French nutrition author claims that milk is bad for people's health.
B. French consumers expect the price of milk to increase in the future.
C.
the French population declines steadily due to years of economic problems.
D. Cheese and other products made from milk become less popular in France
Answers
A situation that would most likely cause demand for milk to rise in France is French consumers expect the price of milk to increase in the future.
What causes an increase in the demand for a product?The demand for a product is affected by:
future expectationschange in the price of other goodsChange in the income of consumersWhen it is expected that the price of a product would increase in the future. Consumers would want to buy the product now when it is cheaper so as to save money.
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Answer it is D:
Explanation:
For 2021, Sherri has a short-term loss of $2,500 and a long-term loss of $4,750. a. How much loss can Sherri deduct in 2021?
Answers
Based on the information given the amount of loss that Sherri deduct in 2021 is $3,000.
Short-term loss and long-term lossSince he had both short-term loss and long-term loss the amount of loss that is deductible is $3,000 of capital loss. ($1,500 each for married filing separately).
Both the short-term loss and the long-term loss are combined up to the limit of the amount of $3,000 and the capital loss in excess of the amount of $3,000 are carried forward to following year.
Inconclusion the amount of loss that Sherri deduct in 2021 is $3,000.
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One of the consequences of increasing the minimum wage has been: ________
a. decreased unemployment for low-skill workers.
b. workers offering to work "off the books" for less than the minimum wage.
c. lower production costs for small businesses.
d. increased employment for high-skill workers.
Answers
A consequence of increasing the minimum wage is A. decreased unemployment for low-skill workers.
What is a wage?A wage simply means the payment for the services rendered by an individual on a hourly basis.
In this case, consequence of increasing the minimum wage is a decreased unemployment for low-skill workers.
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