Answer:
Contains series of information of a personal details
Explanation:
To know their statistics day to day of how things are going on.
A company has following happened in last year
a. Purchased buildings costing $414 and equipment costing $218 for cash.
b. Borrowed $129 from a bank, signing a short-term note.
c. Provided $51,771 in service to customers during the year, with $27,058 on account and the rest received in cash.
d. Paid $136,274 cash on accounts payable.
e. Purchased $30,983 of inventory on account.
f. Paid payroll, $4,540 during the year.
g. Received $21,343 on account paid by customers.
h. Purchased and used fuel of $1,850 in delivery vehicles during the year (paid for in cash).
i. Declared $598 in dividends at the end of the year to be paid the following year.
j. Incurred $116 in utility usage during the year; paid $97 in cash and owed the rest on account.
Required:
General journal entries.
a. Purchased buildings costing $414 and equipment costing $218 for cash.
b. Borrowed $129 from a bank, signing a short-term note.
c. Provided $51,771 in service to customers during the year, with $27,058 on account and the rest received in cash.
d. Paid $136,274 cash on accounts payable.
e. Purchased $30,983 of inventory on account.
f. Paid payroll, $4,540 during the year.
g. Received $21,343 on account paid by customers.
h. Purchased and used fuel of $1,850 in delivery vehicles during the year (paid for in cash).
i. Declared $598 in dividends at the end of the year to be paid the following year.
j. Incurred $116 in utility usage during the year; paid $97 in cash and owed the rest on account.
Required:
General journal entries.
a. Purchased buildings costing $414 and equipment costing $218 for cash.
b. Borrowed $129 from a bank, signing a short-term note.
c. Provided $51,771 in service to customers during the year, with $27,058 on account and the rest received in cash.
d. Paid $136,274 cash on accounts payable.
e. Purchased $30,983 of inventory on account.
f. Paid payroll, $4,540 during the year.
g. Received $21,343 on account paid by customers.
h. Purchased and used fuel of $1,850 in delivery vehicles during the year (paid for in cash).
i. Declared $598 in dividends at the end of the year to be paid the following year.
j. Incurred $116 in utility usage during the year; paid $97 in cash and owed the rest on account.
Required:
General journal entries.
a. Purchased buildings costing $414 and equipment costing $218 for cash.
b. Borrowed $129 from a bank, signing a short-term note.
c. Provided $51,771 in service to customers during the year, with $27,058 on account and the rest received in cash.
d. Paid $136,274 cash on accounts payable.
e. Purchased $30,983 of inventory on account.
f. Paid payroll, $4,540 during the year.
g. Received $21,343 on account paid by customers.
h. Purchased and used fuel of $1,850 in delivery vehicles during the year (paid for in cash).
i. Declared $598 in dividends at the end of the year to be paid the following year.
j. Incurred $116 in utility usage during the year; paid $97 in cash and owed the rest on account.
Required:
General journal entries.
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The real GDP of the U.S. economy was $19,222.0 billion at the end of 2019.
a. Calculate the real GDP in 5 years time if (1) growth is 3% per year, and (2) growth is 2% per year.
b. What is the difference in GDP between a growth rate of 2% and one of 3% over those 5 years?
Based on the compounding period and the amount of GDP, the following are true:
GDP in 5 years at 3% = $22,332.77 billion.GDP in 5 years at 2% = $$21,243.60 billion. The difference will be = $1,089.17 billion.What is the GDP in 5 years at 3%?Because this is GDP, it will be compounded continuously which means that the formula would be:
= Amount x e ^ (Rate x number of years)
= 19,222 x e⁰.⁰³ˣ⁵
= $22,332.77 billion
What is the GDP in 5 years at 2%?= 19,222 x e⁰.⁰²ˣ⁵
= $21,243.60 billion
What is the difference?= 22,332.77 - 21,243.60
= $1,089.17 billion
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For an accountant, which of the following tasks is the most likely to be done
on spreadsheet software?
A. Performing mathematical formulas
B. Generating account numbers
C. Printing source documents
D. Purchasing bookkeeping systems
SUBMIT
Answer:
Performing mathematical formulas
Explanation:
APEX
Thirty-five samples of size 7 each were taken from a fertilizer-bag-filling machine at Panos Kouvelis Lifelong Lawn Ltd. The results were: Overall mean = 54.75 lb.; Average range R = 1.64 lb.
For the given sample size, the control limits for 3-sigma x chart are: _________
Based on the overall mean, the average range, and the control limit factor, the upper control limit is 55.437.
What is the upper control limit?This can be found by the formula:
= Overall mean + (Mean factor for sample size 7 x Average range)
Solving gives:
= 54.75 + (0.419 x 1.64)
= 55.437
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Over the last 20 years several family breweries have sprung up, offering new beer products with unique characteristics. This has led to the availability of types of beers such as spontaneously fermented beers and speciality top fermented beers such as ales, white beers and Trappist beers. Trappist beers are top fermented beers and get their names from the places where they are produced namely in abbeys called Trappist monasteries. The beers are produced by monks of the Trappist order and marketed as authentic Trappist products. Tourists make an effort to visit these breweries to buy Trappist beers and to experience the unique culture of speciality beer. The Trappist beer companies need to consider what the future might offer, how this will affect the business and what resources and actions are necessary to prepare for it. This refers to the following management skill
Answer:
manager
Explanation:
necessary to prepare for it. This refers to the following management skill
what is durability of money
Answer:
Durability of money is such that it can be used over and over again; hence it must survive wear and tear for long periods. The qualities of good money are: General acceptability. Portability.
Kator Co. is a manufacturer of industrial components. One of its products that is used as a subcomponent in auto manufacturing is KB-96. This product has the following financial structure per unit: Selling price $150 Direct materials $ 20 Direct labor 15 Variable manufacturing overhead 12 Fixed manufacturing overhead 30 Shipping and handling 3 Fixed selling and administrative 10 Total costs $ 90 Question During the next year, KB-96 sales are expected to be 10,000 units. All of the costs will remain the same except that fixed manufacturing overhead will increase by 20% and direct materials will increase by 10%. The selling price per unit for next year will be $160. Based on this data, the contribution margin from KB-96 for next year will be A. $1,080,000 B. $750,000 C. $1,110,000 D. $620,000
Answer:
A. $1,080,000
Explanation:
Calculation for the contribution margin from KB-96 for next year
First step is to calculate for the increase in direct materials
Increase in direct materials = (1.1 × $20)
Increase in direct materials =$22 per unit
Second is to calculate the variable costs
Total unit variable costs = ($22 + $15 + $12 + $3
Total unit variable costs = $52
Last step is the Computation of contribution margin using this formula
Contribution margin =Sales - Variable costs
Let plug in the formula
Contribution margin =10,000 units ($160 unit Selling price -$52)]
Contribution margin =10,000 units *$108
Contribution margin=$1,080,000
Therefore the contribution margin from KB-96 for next year will be $1,080,000
Gilberto's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Gilberto's very tiny kitchen has barely enough room for the two ovens in which his workers bake the pizzas. Gilberto signed a lease obligating him to pay the rent for the two ovens for the next year. Because of this, and because Gilberto's kitchen cannot fit more than two ovens, Gilberto cannot change the number of ovens he uses in his production of pizzas in the short run.
However, Gilberto's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Gilberto lets them know how many workers he needs for each day of the week. In the short run, these workers are ________ inputs, and the ovens ________ inputs.
Answer:
However, Gilberto's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Gilberto lets them know how many workers he needs for each day of the week. In the short run, these workers are VARIABLE inputs, and the ovens FIXED inputs.
Explanation:
In the long run, all inputs are variable. E.g. in 5 years Gilberto might build his own pizza place and he will be able to make the kitchen as large as he wants.
But in the short run, some inputs are variable because they can be changed immediately, e.g. the number of workers changes on a weekly basis. While other inputs are fixed, and cannot be changed, e.g. Gilberto has a two yer lease contract for the ovens, so he will continue to use these ovens until the lease expires (in 2 years).
The long run and short doesn't depend on time, but on the ability of being able to change the inputs consumed by a business. The long run might represent 10 years for a company that signed a 10 year lease contract.
Axe company sponsors a 401(k) profit sharing plan with no employer match, but the company did make noncontributory employer contributions because the plan was top-heavy. Jack quit today after six years working for Axe and has come to you to determine how much of his retirement balance he can take with him. The plan uses the least generous graduated vesting schedule available. What is Jack's vested account balance if he has been a participant for 57 months? EMPLOYER EMPLOYEE CONTRIBUTIONS $9,000 $12,000 EARNINGS $4,000 $5,000 a. $17,000. b. $27,400. c. $24,800. d. $30,000.
Answer:
d. $30,000.
Explanation:
Jack is entitled to 100% of his own contributions = $9,000 + $4,000 = $13,000
The following is the least generous vesting schedule
Least-generous graded vesting schedule
Years of service % vested
1 0%
2 20%
3 40%
4 60%
5 80%
6 100%
Since jack worked for 57 months, he is entitled to 100% of the employer's contributions = $12,000 + $5,000 = $17,000
Total account balance = $13,000 + $17,000 = $30,000
Orange Inc., an orange juice producer with a current debt-to-equity ratio of 2, is considering expanding its operations to produce toothpaste. Unsurprisingly, the toothpaste industry faces a different set of risks than the orange juice industry. However, the executives at Orange Inc. observe that Paste Inc., a toothpaste company, has a cost of equity of 12%, a cost of debt of 6%, and a debt-to-value ratio of 40%. Orange Inc. plans to finance its expansion into toothpaste production with 50% debt and 50% equity. The cost of debt for Orange Inc. is also 6%, and the corporate tax rate is 25%.
Required:
Solve for the discount rate that Orange Inc. should use when evaluating whether to go forward with the expansion.
Answer:
8.25%
Explanation:
Orange, Inc. should calculate the MARR (minimum acceptable rate of return) for this project using the following:
Re = 12% (similar to Paste, Inc., so it can be considered the industry's average)
Rd = 6% x (1 - 25%) = 4.5%
MARR = (1/2 x 12%) + (1/2 x 4.5%) = 6% + 2.25% = 8.25%
This calculation is similar to calculating a company's WACC since you must determine the weighted cost of financing the project.
Match to the best answer. You will not use all the options and you cannot use the same option more than once. A. Risk-Return trade-off G. Crony capitalism F. Marginal benefit - Balance of payments H. Lorenz curve E. Scarcity - Marginal cost A. Safe investments make little money B. Change in total revenue C. CA+NX=0 D. Change in total cost E. When demand exceeds our ability to fulfill those demands F. Change in total benefit G. Capitalism characterized by a government-manipulated economy H. Represents actual distribution of income I. Property rights must be clearly defined and strictly enforced
Answer:
Terms matched to best answers, given below
Explanation:
Risk Return Trade off : Safe investments make little money
Crony capitalism : Capitalism characterized by a government-manipulated economy
Marginal Benefit : Change in Total Benefit
Balance of Payment : CA+NX=0
Lorenz Curve : Represents actual distribution of income
Scarcity : When demand exceeds our ability to fulfill those demands
Marginal Cost : Change in total cost
You purchase a home for $200,000 and borrow the entire amount from Broadway Bank at an APR of 6% with monthly payments. The maturity of your mortgage equals (30+X) years. a. (8 points) Draw a time line that depicts the cash flows from the mortgage payments i. compute the payment and show your inputs and work. ii. Use negative numbers for outflows and positive for inflows. b. (8 points) Compute the outstanding mortgage amount after you have made (10+Y) years of payments. i. Show this point on the time line, and ii. give the inputs to your computations for full credit. (8 points) c. (9 payments) What is the interest and principal component of your mortgage payment on the next mortgage payment made after (10+Y) years in part (b)? Show your computations.
Answer:
c c c c c c c c c c c
//-!-!-!-!-!-!-!- {...} -!-!-!-!-!-!-!-!//
F0 30+X
on F0 we receive the 200,000 dollars
then each month (!) we made the installment payment (c)
this continues for the entire life of the mortgage until we reach the year 30 + X at which the mortgage ends and no more payment is done.
The outstanding amount will be the 200,000 less the capitalize installment over 10 + Y years.
Notice as the payments are monthly we use a monthly rate.
[tex]200,000 - C \times \frac{(1+0.06/12)^{(10+Y)12}-1 }{0.06/12}[/tex]
Outstanding after 10 + Y years
[tex]200,000 - C \times \frac{(1+0.005)^{(120+12Y}-1 }{0.005}[/tex]
the interest component will be the outstanding balance times rate
[tex](200,000 - C \times \frac{(1+0.005)^{120+12Y}-1 }{0.005}) \times 0.005[/tex]
reduced expression:
[tex](1,000 - C \times ((1+0.005)^{120+12Y}-1) [/tex]
and the amortization of the installment quota less interest:
[tex]C - (1,000 - C \times ((1+0.005)^{120+12Y}-1)[/tex]
[tex]C^2 \times ((1+0.005)^{120+12Y}-1) -1,000C[/tex]
Explanation:
As we don't know the values for X and Y we have to use the main formulas and reduce them the most we can.
If we are given values for X and Y we place them in the formulas and solve.
The linear production possibility frontier in the US indicates that the US can produce 10 tons of wheat in day or 2 cars. Japan can produce 8 tons of wheat or 1 car in a day. The opportunity cost of producing a car in the Japan is
Based on the amount of wheat given up by Japan to make a car, the opportunity cost of producing a car would be 8 tons of wheat.
What is the opportunity cost of making a car in Japan?The opportunity cost in this instance will be the amount of wheat given up by Japan to produce a car.
It is therefore:
= 8 tons of wheat
In conclusion, the opportunity cost is 8 tons of wheat.
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Why is the equality of marginal revenue and marginal cost essential for profit maximization in all market structures
Answer:
Explanation:
The general ledger of Pipers Plumbing at January 1, 2021, includes the following account balances:
Accounts Debits Credits
Cash $4,000
Accounts Receivable 9,000
Supplies 3,000
Equipment 26,000
Accumulated Depreciation $6,000
Accounts Payable 4,000
Utilities Payable 5,000
Deferred Revenue 0
Common Stock 18,000
Retained Earnings 9,000
Totals $42,000 $42,000
The following is a summary of the transactions for the year:
1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.
2. March 13 Collect on accounts receivable, $48,000.
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
4. June 30 Pay salaries for the current year, $32,000.
5. September 15 Pay utilities of $5,000 from 2020 (prior year).
6. November 24 Receive cash in advance from customers, $8,000.
7. December 30 Pay $2,000 cash dividends to stockholders.
The following information is available for the adjusting entries.
Depreciation for the year on the machinery is $6,000. Plumbing supplies remaining on hand at the end of the year equal $1,000. Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year. Accrued utilities at year-end amounted to $7,000.
Required:
Complete the full accounting cycle.
Answer:
1. January 24 Provide plumbing services for cash, $15,000, and on account, $60,000.
Dr Cash 15,000
Dr Accounts receivable 60,000
Cr Service revenue 75,000
2. March 13 Collect on accounts receivable, $48,000.
Dr Cash 48,000
Cr Accounts receivable 48,000
3. May 6 Issue shares of common stock in exchange for $10,000 cash.
Dr Cash 10,000
Cr Common stock 10,000
4. June 30 Pay salaries for the current year, $32,000.
Dr Wages expense 32,000
Cr Cash 32,000
5. September 15 Pay utilities of $5,000 from 2020 (prior year).
Dr Utilities payable 5,000
Cr Cash 5,000
6. November 24 Receive cash in advance from customers, $8,000.
Dr Cash 8,000
Cr Unearned revenue 8,000
7. December 30 Pay $2,000 cash dividends to stockholders.
Dr Dividends 2,000
Cr Cash 2,000
Adjusting entries:
Depreciation for the year on the machinery is $6,000.
Dr Depreciation expense 6,000
Cr Accumulated depreciation 6,000
Plumbing supplies remaining on hand at the end of the year equal $1,000.
Dr Supplies expense 2,000
Cr Supplies 2,000
Of the $8,000 paid in advance by customers, $6,000 of the work has been completed by the end of the year.
Dr Unearned revenue 6,000
Cr Service revenue 6,000
Accrued utilities at year-end amounted to $7,000.
Dr Utilities expense 7,000
Cr Utilities payable 7,000
Pipers Plumbing
Trial balance
For the year ended December 31, 2021
debit credit
Cash $46,000
Accounts Receivable $21,000
Supplies $1,000
Equipment $26,000
Accumulated Depreciation $12,000
Accounts Payable $4,000
Utilities payable $7,000
Deferred Revenue $2,000
Common Stock $28,000
Retained Earnings $9,000
Service revenue $81,000
Wages expense $32,000
Depreciation expense $6,000
Supplies expense $2,000
Utilities expense $7,000
Dividends $2,000
Totals $143,000 $143,000
Pipers Plumbing
Income statement
For the year ended December 31, 2021
Service revenue $81,000
Wages expense $32,000Depreciation expense $6,000Supplies expense $2,000Utilities expense $7,000 ($47,000)Net income $34,000
Pipers Plumbing
Retained Earnings Statement
For the year ended December 31, 2021
Beginning balance January 1, 2021 $9,000
Net income $34,000
Subtotal $43,000
Dividends ($2,000)
Ending balance December 31, 2021 $41,000
Pipers Plumbing
Balance Sheet
For the year ended December 31, 2021
Assets:
Cash $46,000
Accounts Receivable $21,000
Supplies $1,000
Equipment, net $14,000
Total assets $82,000
Liabilities:
Accounts Payable $4,000
Utilities payable $7,000
Deferred Revenue $2,000
Total liabilities $13,000
Stockholders' Equity
Common Stock $28,000
Retained Earnings $41,000
Total stockholders' equity $69,000
Total liabilities + equity $82,000
Kitto Electronics Data Kitto Electronics expects an EBIT of $200,000 for Year-1. EBIT is expected to grow at 6% thereafter. The tax rate is 25%. In order to support growth, Kitto must reinvest 20% of its EBIT in net operating assets. Kitto has $300,000 in 8% debt outstanding, and a similar company with no debt has a cost of equity of 11%. Refer to data for Kitto Electronics. Using the compressed adjusted present value model, what is the value of Kitto's tax shield
Assuming the cost of equity of 11%. Using the compressed adjusted present value model, the value of Kitto's tax shield is $120,000.
Value of Kitto's tax shieldGiven:
EBIT=$200,000
rsU= 11%
Debt=$300,000
Tax rate(T)=25%
rd= 8%
EBIT retained= 20%
g=6%
Using this formula
VTS = rdTD/(rsU − g)
Let plug in the formula
VTS = 0.08(0.25)($300,000)/(0.11 − 0.06)
VTS =$6,000/0.05
VTS = $120,000
Inconclusion the value of Kitto's tax shield is $120,000.
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What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?
Answer:
What are the choices made by households and firms that determine what, how, and for whom goods and services are produced? Where in the circular flow model, do these choices appear?
Explanation:
The circular flow model depicts how families and enterprises, as well as the marketplaces for resources and products and services, interact with one other and with other groups of economic decision-makers.
What is circular flow of income?A model of the economy known as the circular flow of income or flow in which the primary exchanges are shown as flows of money, goods, and services, etc. between economic agents. In a closed circuit, the flows of money and items traded have values that are same but flow in the opposite direction. The circular flow analysis is the cornerstone of macroeconomics and national accounts.
Richard Cantillon's work already had the circular flow concept. In his so-called Tableau économique, François Quesnay elaborated and illustrated this idea.
The National Income and Product Accounts, for instance, use the concept of the circular flow of income to help better comprehend the economy as a whole (NIPAs).
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BioMorphs Corporation produces three products in a monthly joint production process. During the first stage of the process liquids and chemicals costing $60,000 are heated and three different compounds emerge: 3,000 gallons of Molecue worth $22 per gallon are created from the steam; 10,000 gallons of Borphue worth $15 are drained from the tank; and 1,000 gallons of the tank residue, labeled as Polygard, are sold as fertilizer for $5.50 per gallon. Before Molecue is sold, it must be purified in another process that costs $10,000, and before the Polygard fertilizer is sold, it must be bottled at a price of $1.50 per gallon.
Required:
a. What is the profitability of the joint process?
b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?
c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?
Answer:
a. What is the profitability of the joint process?
costs = -$60,000
Molecule = (3,000 gallons x $22) - $10,000 = $56,000
Borphue = 10,000 gallons x $15 = $150,000
Polygard = 1,000 gallons x ($5.50 - $1.50) = $4,000
total revenue = $56 + $150 + $4 - $60 = $150,000
b. Is it profitable to process Molecue further if it can be sold at split-off for $9 per gallon?
it is more profitable further process Molecule since you will spend $10,000, but you will add $39,000 more than just selling it at the split-off point.
c. BioMorphs has an offer to buy Polygard bulk at the split-off point without bottling for $3,400 per month. What is the incremental profit (loss) for the month to BioMorphs if it accepts the offer?
BioMorphs will lose = $3,400 - $4,000 = ($700) if it accepts this offer.
A__________can help you decide if you should buy or lease a new car.
a.
Diagram
c.
Flowchart
b.
Table
d.
Timeline
Please select the best answer from the choices provided
A
B
C
D
Answer:
Probably A
Explanation:
Diagrams can show the depreciating value and stuff, B could also be the answer but not as good of one as A.
A flowchart can help you decide if you should buy or lease a new car. Option (c) is correct.
What do you mean by Diagram?A diagram is a straightforward drawing that primarily comprises of lines and is used, for instance, to describe how a machine operates.
A flowchart is a diagram that shows a process' individual steps in their proper order. It is a general tool that may be customized for a wide range of uses and used to define a variety of processes, including a project plan, an administrative or service process, or a manufacturing process. There are four types of flowchart that is Document flowchart, Data flowchart, System flowchart, Program flowchart.
Therefore, Option (c) is correct. A flowchart can help you decide if you should buy or lease a new car.
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Kenneth Arrow argues that Group of answer choices settled economic life requires purely selfish behavior. with ethical codes, there's no need for taxes, laws, or regulations as a way of controlling corporate behavior. ethical codes can contribute to economic efficiency. to be viable, ethical codes need not be widely accepted or part of corporate culture.
Kenneth Arrow simply argues that C. ethical codes can contribute to economic efficiency.
What is ethics?It should be noted that ethics simply means knowing right from wrong. This is important in societies.
In this case, Kenneth Arrow simply argues that ethical codes can contribute to economic efficiency.
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Suppose you interview someone for the job of receptionist. He or she makes this statement: "I am usually in a very good mood. I consider myself to be upbeat and optimistic Which element of individual behavior might this predict, and would this be important for the job as described? a. Selective perception; unimportant for job b. Machiavellianism; unimportant for job c. Positive affectivity; important for job d. Low openness; important for job
The element of individual behavior that can be predicted when interviewing the person is C. Positive affectivity; important for job.
What is a behavior?It should be noted that a behavior simply means the traits that are exhibited by an individual.
In this case, the element of individual behavior that can be predicted when interviewing the person is "positive affectivity; important for job. This is needed as a receptionist.
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Carlise Corp., which manufactures ceiling fans, currently has two product lines, the Indoor and the Outdoor. Carlise has total overhead of $124,916. Carlise has identified the following information about its overhead activity cost pools and the two product lines:
Activity Cost Pools Cost Driver Cost Assigned to Pool Quantity/Amount Consumed by Indoor Line Quantity/Amount Consumed by Outdoor Line
Materials handling Number of moves $18,236 570 moves 370 moves
Quality control Number of inspections $77,420 5,600 inspections 4,200 inspections
Machine maintenance Number of machine hours $29,260 27,000 machine hours 11,000 machine hours
Required:
Suppose Carlise used a traditional costing system with machine hours as the cost driver. Determine the amount of overhead assigned to each product line.
Answer:
For indoor = $88,756
For outdoor = $72,666
Explanation:
The computation of the amount of overhead assigned to each product line is given below:-
Traditional Costing
Machine Hours Overhead Assigned
Indoor Model 27,000 88,756
($124,916 ÷ 38,000) × 27,000
Outdoor Model 11,000 72,666
($124,916 ÷ 38,000) × 11,000
Total 38,000 $161,442
An increase in the expected price level shifts a. the short-run aggregate supply curve to the left but does not affect the long-run aggregate supply curve. b. the long-run aggregate supply curve to the left but does not affect the short-run aggregate supply curve. c. neither the long-run aggregate supply curve nor the short-run aggregate supply curve to the left. d. both the short-run and long-run aggregate supply curves to the left.
When there is an increase in the expected price level, it will shift a. the short-run aggregate supply curve to the left but does not affect the long-run aggregate supply curve.
What happens when there is an increase in expected price level?The increase in expected price level will lead to the short run aggregate supply curve shifting to the left.
This is because suppliers will reduce supply so that they can make more profit when the prices rise in the immediate future. The long run aggregate supply curve will not be affected because supply would normalize eventually.
In conclusion, option A is correct.
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Sanyo Corporation manufactures a popular model of business calculators in a suburb of Seoul, South Korea. The production process goes through two departments: assembly and testing. The following information (in thousands of South Korean currency, the won) pertains to the testing department for the month of July.
Work-in-Process Inventory, July 1 6,000 units
Transferred-in costs 94,900 won (100% complete)
added in July Direct materials 33,970 won (100% complete)
Conversion 46,880 won (80% complete)
During the month of July, 15,000 units were transferred in from the assembly department at the cost of 148,700 won, and the testing department added costs of 209,940 won, as follows:
Direct materials 96,440 won
Conversion 113,500 won
During the month, 18,000 units were completed and transferred to the warehouse. At July 31, the completion percentage of Work-in-Process was as follows:
Direct materials 90%
Conversion 60%
Required
Prepare the production cost report of the testing department for the month of July using weightedaverage process costing.
Question a)
The sum of the Total assets plus total fixed assets results in total assets.
Question b)
The division of Net sales over total assets results in Asset Turnover
Question c)
The subtraction of the cost of good sold from net sales is equal to the gross margin
Question d)
The subtraction of Operating expenses from gross margin results in the Net Operating profits, before the taxes.
Question e)
The subtraction of Taxes from Net Profit before tax results in Net profit after taxes
Question f)
The division of Net profit after tax over the Net saves gives you the Net profit margin percentage.
Question g)
The division of Net profit Margin percent over the asset turnover results in a return on assets.
Brad works in purchasing for a manufacturing firm. He has a meeting with a potential supplier at a nice restaurant. The supplier encourages him to order as much as he wants. At the end of the meal, the supplier insists upon paying. Brad is not sure what he should do. He is afraid that, even if he attempts to be unbiased, this free meal will influence his choice of supplier in the future. However, he also doesn't want to be rude to the supplier by turning down his offer. What should Brad do?
The thing which Brad should do in the given situation is to offer to split the costs of the meal.
What is Business Relationship?
This refers to the interaction between two or more people who are interested in entering a business partnership.
With this in mind, we can see that Brand goes for lunch with a potential supplier of which the supplier encourages him to order as much as he wants and insists on paying at the end of the meal, what Brad should do in this situation is to offer to split the costs of the meal.
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Activity-based Costing—Comprehensive Problem [lo 2] The Riverdale Printing Company prints limited edition art books with production runs of 15,000 to 100,000. It has recently adopted an activity-based costing system to assign manufacturing overhead to products. The following data relate to one product, Art of Design, and the ABC cost pools:
Art of Design:
Annual production 40,000 units
Direct materials $37
Direct labor per unit $8
Manufacturing overhead
cost pools Cost Pool Cost Driver $ 840,000
Materials ordering $840,00 Number of purchase orders
Materials inspection 525,000 Number of receiving reports
Equipment setup 2,500,000 Number of setups
Quality control 1,000,000 Number of inspections
Other 25,000,000 Direct labor cost
Total manufacturing overhead
Annual activity information related to cost drivers:
Cost Pool All Books Art of Design
Materials ordering 120,000 orders 1,200
Materials inspection 2,100receiving reports 315
Equipment setup 125 setups 1
Quality control 5,000 inspections 500
Other $12,500,000 direct labour $320,000
a. Calculate the overhead rate per unit of activity for each of the five cost pools.
b. Calculate the total overhead assigned to the production of the Art of Design. Round to two decimal places.
c. Calculate the overhead cost per unit for the Art of Design.
d. Calculate the total unit cost for the Art of Design.
e. Suppose that Riverdale Printing allocates overhead by a traditional production volume-based method using direct labor dollars as the allocation base and one cost pool. Determine the over- head rate per direct labor dollar and the per unit overhead assigned to the Art of Design. Discuss the difference in cost allocations between the traditional method and the activity-based costing approach.
Answer:
Instructions are below.
Explanation:
a)
First, we need to calculate the activity rate for each activity:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Materials ordering= 840,000/121,200= $6.93 per order
Materials inspection= 525,000/2,415= $217.39 per report
Equipment setup= 2,500,000/126= $19,841.27 per setup
Quality control= 1,000,000/5,500= $181.82 per inspection
Other= 25,000,000/12,820,000= $1.95 per direct labor dollar
b)
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Materials ordering= 6.93*1,200= 8,316
Materials inspection= 217.39*315= 68,477.85
Equipment setup= 19,841.27*1= 19,841.27
Quality control= 181.82*500= 90,910
Other= 1.95*320,000= 624,000
Total allocated costs= $811,545.12
c)
Unitary overhead= 811,545.12/40,000= $20.30
d)
To calculate the unitary production cost, we need to use the following formula:
Total unitary cost= direct material + direct labor + allocated overhead
Total unitary cost= 37 + 8 + 20.3
Total unitary cost= $65.3
e) Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 29,865,000/12,820,000
Predetermined manufacturing overhead rate= $2.33 per direct labor costs
Allocated MOH= 2.33*320,000= $745,600
Unitary overhead= 745,600/40,000= $18.64
The difference between a plantwide predetermined overhead rate and an activity-based, is that the second one is more accurate. The allocation process is specific and more efficient.
On October 1, 20X1, Bullseye Company sold 250,000 gallons of diesel fuel to Schmidt Co. at $3 per gallon. On November 8, 20X1, 150,000 gallons were delivered; on December 27, 20X1, another 50,000 gallons were delivered; and on January 15, 20X2, the remaining 50,000 gallons were delivered. Payment terms are 10% due on October 1, 20X1; 50% due on first delivery; 20% due on the next delivery; and the remaining 20% due on final delivery.
Required:
a. Do each of the three deliveries represent a distinct performance obligation, or is there a single performance obligation requiring three deliveries?
b. What amount of revenue should bullseye recognize from this sale during 2018?
a. There is a single performance obligation requiring three deliveries.
b. The amount of revenue should bullseye recognize from this sale during 2018 is $600,000.
Performance obligationa. The single performance obligation requiring three deliveries is the delivering of 250,000 gallons of diesel fuel.
b. Revenue recognized
Delivering=3×250,000
Delivering=750,000
Revenue recognized=750,000×80%
Revenue recognized=$600,000
Inconclusion there is a single performance obligation requiring three deliveries and the amount of revenue should bullseye recognize from this sale during 2018 is $600,000.
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According to your research, the growth rate in dividends for DR Dime for the previous 10 years has been negative 14 percent. If investors feel this growth rate will continue, what is the required return for DR Dime stock?
The required return for DR Dime stock will be -9.07% If the investors felt the growth rate will continue.
What is the formula for required return?The formula for required return is Ke = (D0(1+q)/P0 + q)
Given data
D0 = 0.89
G = -14%
P0 = 15.52
Required return = (0.89*(1-0.14)/15.52) +-0.14
Required return = 0.0493170103 - 0.14
Required return = -0.0906829897
Required return = -9.07%
In conclusion, the required return for DR Dime stock is -9.07%.
Missing options "You've collected the following information from your favorite financial website. 52-Week PriceStock (Div)DivYld %PERatioClosePriceNetChgHiLo77.40 10.43 Palm Coal .362.6 6 13.90 -.24 55.81 33.42 Lake Lead Grp 1.543.8 10 40.43 -.01 130.93 69.50 SIR 2.002.2 10 88.97 3.07 50.33 14.04 DR Dime .895.7 6 15.52 -.26 35.00 20.74 Ca"
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Which type of firm would you rather work for? One who lays people off, or one that cuts everyone’s hours? Why? Think about the tradeoffs involved. Please use marginal analysis (ref. chapter 1) in your reasoning, and back up any claims you make with some documentation.
If a law was passed that required all firms to cut hours instead of lay people off, so that everybody was guaranteed a job and only hours worked fluctuated (instead of experiencing joblessness), what do you think the economic consequences would be? Specifically:;
Answer:
the one that cuts every ones hours
Explanation:
because the one that lays people off u won't have a job not paying bill the one that cuts hours because u work less but still get paid
Hakara Company has been using direct labor costs as the basis for assigning overhead to its many products. Under this allocation system, product A has been assigned overhead of $21.86 per unit, while product B has been assigned $13.35 per unit. Management feels that an ABC system will provide a more accurate allocation of the overhead costs and has collected the following cost pool and cost driver information:
Cost Pools Activity Costs Cost Drivers Activity Driver Consumption
Machine setup $360,000 Setup hours 4,000
Materials handling 85,000 Pounds of materials 17,000
Electric power 50,000 Kilowatt-hours 25,000
The following cost information pertains to the production of A and B, just two of Hakara's many products:
A B
Number of units produced 4,000 10,000
Direct materials cost $39,000 $38,000
Direct labor cost $22,000 $27,000
Number of setup hours 100 200
Pounds of materials used 2,000 2,000
Kilowatt-hours 2,000 4,000
Required:
Use activity-based costing to determine a unit cost for each product.
Answer:
Unitary cost A= $21
Unitary cost B= $10.1
Explanation:
First, we need to calculate the predetermined overhead rate for each activity:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Machine setup= 360,000/4,000= $90 per setup hour
Materials handling= 85,000/17,000= $5 per pound
Electric power= 50,000/25,000= $2 per killowat
Now, we can allocate overhead to each product:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Product A:
Machine setup= 90*100= $9,000
Materials handling= 5*2,000= $10,000
Electric power= 2*2,000= $4,000
Total= $23,000
Product B:
Machine setup= 90*200= $18,000
Materials handling= 5*2,000= $10,000
Electric power= 2*4,000= $8,000
Total= $36,000
Finally, the total cost and unitary cost:
Product A:
Total cost= 39,000 + 22,000 + 23,000= $84,000
Unitary cost= 84,000/4,000= $21
Product B:
Total cost= 38,000 + 27,000 + 36,000= $101,000
Unitary cost= 101,000/10,000= $10.1