3. At an oral auction for a lamp, half of all bidders have a value of $50 and half have a value of $70. What is the expected winning bid if there are four bidders

Answers

Answer 1

Answer: $60

Explanation:

From the question, we are informed that At an oral auction for a lamp, half of all bidders have a value of $50 and half have a value of $70.

The expected winning bid if there are four bidders goes thus:

Since there are four bidders, the probability that the winning bid is $50 is 1/2 and for $70, it's 1/2 as well based on the question.

The expected winning bid will now be:

= ($50 × 1/2) + ($70 × 1/2)

= ($50 × 0.5) + ($70 × 0.5)

= $25 + $35

= $60


Related Questions

Quality improvement teams are groups of people from various work areas who define, analyze, and solve common production problems.
a. True
b. False

Answers

Answer: True

Explanation:

The quality improvement teams are groups of employees that are from various departments who come together and meet regularly in order to define, analyze, and then solve common production problems.

The aim of the quality improvement team is to improve the production process. This is achievable by them working on their methods.

The initial price for a stadium is $800,000,000. There will be a 2% adjustment to the price, and $85,000,000 of revenue from the sale of previous equipment and land. The projected future cash flow is $675,000,000. The government has decided to provide $300,000,000 of cash to discount the price. What is the Net Present Value of the Stadium

Answers

Answer:

NPV = $246764705.88

Explanation:

The net present value of the stadium can be calculated by deducting the present value of cash outflow from the present value of cash inflow.

DATA

Initial price = $800,000,000

Revenue from sale of previous equipment = $85,000,000

Goverment provided fund to discount the price = $300,000,000

Discount factor for year 1 at 2% = 0.9804

Future Cash inflow = $675,000,000

Solution

NPV = Present value of cash inflows - Present value of cash outflows

NPV = $661,764,705.88 - $415,000,000

NPV = $246,764,706

Working

PV of Cash inflow = $675,000,000 x 0.9804

PV of cash inflow =  $661,764,706

PV of Cash outflow = Initial price - Revenue form sale  - Goverment fund

PV of cash outflow = $800,000,000 - $85,000,000 - $300,000,000

PV of cash outflow = $415,000,000

Let's say that you choose to buy bread in a grocery store. According to the marginal benefit and marginal cost principle, how many loaves of bread will you purchase if you know the following:

A loaf of bread costs $2.00. Each dollar is worth 100 utils to you (so $2 is worth 200 utils). The first loaf of bread gives you 400 utils of satisfaction. The second loaf of bread gives you 320 utils of satisfaction. The third loaf of bread gives you 280 utils of satisfaction. The fourth loaf of bread gives you 220 utils of satisfaction. The fifth loaf of bread gives you 160 utils of satisfaction. The sixth loaf of bread gives you 30 utils of satisfaction. The seventh loaf of bread gives you no more additional utils.

1. Four loaves.
2. One loaf.
3. Three loaves.
4. Two loaves.
5. Six loaves.
6. Five loaves.
7. Seven loaves.

Answers

Six is your answer because if it cost $2.00 and you have 4 it makes sense

It will be advisable to purchase six loaves of bread to derive the optimum amount of marginal utility upon consumption. Hence, option 6 is correct.

What is marginal utility?

The utility derived upon consumption of each additional unit of a product, given that other things remain constant, is known as the marginal utility derived.

It has been provided that the utility derived upon the consumption of seventh loaf will not derive further utility. And thus, six loaves derive optimum amount of utility for the consumer.

Hence, option 6 holds true regarding deriving the marginal utility.

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Bob manages a grocery store in a country experiencing a high rate of inflation. He is paid in cash twice per month. On payday, he immediately goes out and buys all the goods he will need over the next two weeks in order to prevent the money in his wallet from losing value. What he can't spend, he converts into a more stable foreign currency for a steep fee. This is an example of the of inflation.

Answers

Answer:

shoe-leather costs

Explanation:

Inflation is a persistent rise in general price levels.

shoe-leather costs of inflation is the cost in terms of  time and effort spent by individuals in reducing their cash holdings in order to avoid paying inflation tax.

Bob's shoe cost of inflation includes :

1. the time and effort expended in going to purchase items immediately he is paid

2. the time and effort expended in converting the money he didn't spend to a more stable foreign currency.

A benevolent social planner would prefer that the output of good x be decreased from its current level if, at the current level of output of good x_________
a. social cost = private cost = private value < social value.
b. private cost < social cost = private value = social value.
c. social value = private value = private cost < social cost.
d. social cost = private cost = private value = social value.

Answers

Answer:

c

Explanation:

social value = private value = private cost < social cost.

A benevolent social planner would prefer that the output of good x be decreased from its current level if, at the current level of output of good x social value = private value = private cost < social cost. Thus, option (c) is correct.

What is the cost?

The term cost refers to the actual money are spent on the manufacturing of the product. The product are manufacture to spend on money are raw material, transportation, wages, salary, and other expenses add. The all expenses are added to identify the cost.

According to the system composed, the primary impact of the output of goods are the multiplied by the reduced from its present state are the primary effect of the output of products are the calculation where the social value equals the societal value. The private cost is lower than the societal cost.

As a result, the significance of the social cost are the aforementioned. Therefore, option (c) is correct.

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15 POINTS IF U ANSWER NOW!!!!! Which non-income factor for a potential job promotion would influence a person whose mother needs frequent medical attention? A.) Location (im pretty sure its not A) B.) Personal satisfaction C.) Independence D.)Family

Answers

Answer:

D. Family

Explanation:

SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company’s products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 5,100 of these meals using 2,000 direct labor-hours. The company paid its direct labor workers a total of $28,000 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 5,100 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 5,100 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.)

Answers

Answer:

1. 2,040 Hours

2. $27,540

3. 460 U

4.Labor rate variance = 1,000 U , Labor efficiency variance = 540 F

Explanation:

1. Standard labor hour allowed = (5,100 * 0.40) = 2,040 Hours

2. Standard labor cost = (2,040 * $13.50) = $27,540

3. Labor spending variance = (Standard cost - actual cost)

Labor spending variance = (27,540 - 28,000)

Labor spending variance = 460 U

4. Labor rate variance = (Standard rate - Actual rate) * Actual hours

Labor rate variance = ($13.50 - $14) * 2000

Labor rate variance = 0.50 * 2,000 U

Labor rate variance = 1,000 U

Labor efficiency variance = (Standard hour - Actual hour) * Standard rate

Labor efficiency variance= (2,040 - 2,000) * $13.50

Labor efficiency variance = 40 * 13.50 F

Labor efficiency variance = 540 F

Beer prices at major league baseball stadiums are usually much higher than prices at a bar or restaurant. This is mainly because

Answers

The question is incomplete:

Beer prices at major league baseball stadiums are usually much higher than prices at a bar or restaurant. This is mainly because

a. it costs the owners of the baseball teams more money to buy the beer from distributors

b. demand is much higher at a baseball game than at a bar

c. baseball team owners have market power and can change a higher price when they are the only sellers of beer

d. the government forces the owners of baseball teams to change price.

e. the owner's baseball teams are not profit maximizing

Answer:

c. baseball team owners have market power and can change a higher price when they are the only sellers of beer

Explanation:

The situation at the major league baseball stadiums is that the owner of the team is the only one that sells the beer which means that they have the power to establish the price they want as people won't have another option to buy the beer in the stadium and they will try to get as much benefits as possible by setting a high price. According to this, the answer is that this is mainly because baseball team owners have market power and can change a higher price when they are the only sellers of beer .

The other options are not right because the owners of the teams pay the same price for the beer as everyone else, the demand is not higher at the baseball game, the government doesn't regulate the prices and the owners are trying to get as much profits as possible.

has a target debt−equity ratio of .50. Its cost of equity is 15 percent, and its cost of debt is 6 percent. If the tax rate is 34 percent, what is the company’s WACC?

Answers

Answer:

11.35%

Explanation:

The calculation of WACC is shown below:-

WACC = Cost of equity × (equity ÷ (Debt + Equity)) +  cost of debt × (debt ÷ (Debt + Equity)) × (1 - tax rate)

= 0.15 × (1 ÷ 1.50) + 0.06 × (0.50 ÷ 1.50) × (1 - 0.34)

= 0.15 × 0.67 + 0.06 × 0.33 × 0.66

= 0.1005 + 0.013068

= 11.35%

Therefore for computing the WACC we simply applied the above formula.

A common stock pays an annual dividend per share of $1.80. The risk-free rate is 5%, and the risk premium for this stock is 4%. If the annual dividend is expected to remain at $1.80 per share, what is the value of the stock

Answers

Answer:

The value of the stock today is $20

Explanation:

Using the CAPM equation, we first calculate the required rate of retunr on the stock.

The equation for CAPM is,

r = rRF + Beta * rpM

Where,

rRF is the risk free raterpM is the risk premium on marketBeta * rpM is the risk premium on stock

r = 0.05 + 0.04

r = 0.09 or 9%

The value of the stock can be calculated using the zero growth model of DDM. The DDM values the stock based on the present value of the expected future dividends from the stock. As the dividend from the stock is expected to remain constant through out to an indefinite period, the value of the stock today is,

P0 = Dividend / r

P0 = 1.8 / 0.09

P0 = $20

Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include which of the following?
a) Energy Usage
b) Purchase Price
c) Product Liability Costs
d) Customer Dissatisfaction Costs
e) Warranty Costs

Answers

Answer:

a) Energy Usage

Explanation:

Total cost of ownership (TCO) can be defined as the summation of the purchase price (P) and operating costs (O) of an asset over the asset's lifespan.

Mathematically, it is given by the expression;

Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include an energy usage.

Energy refers to the amount or quantity of power which is being consumed by an individual, group of people or organization over a specific period of time. As the consumers continue to use energy, they're being charged or made to pay a utility fee regularly for their amount of consumption, which is usually calculated hourly (kilowatts per hour or kwh).

rane Company had the following assets on January 1, 2017.
Item Cost Purchase Date Useful Life (in years) Salvage Value
Machinery $69,580 Jan. 1, 2007 10 $0
Forklift 29,400 Jan. 1, 2014 5 0
Truck 32,736 Jan. 1, 2012 8 2,944
During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $11,760. The truck was discarded on December 31.
Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016.

Answers

Answer:

Journal entries are prepared below

Explanation:

Journal entries required are given as follows

Jan. 1 (To record retirement of machinery)  

                                                                     Debit        Credit

Accumulated depreciation-equipment     $69,580

Equipment                                                                   $69,580

June. 30 (To record the depreciation expense on forklift)

                                                                     Debit        Credit

Depreciation expense                                2940

Accumulated depreciation-equipment                       2940

Working

Annual depreciation = $29,400 / 5 years = $5880

depreciation for 6 months = $5880 x 6/12 = $2940

June. 30 (To record sale of forklift)

                                                                        Debit        Credit

Cash                                                                 11760  

Accumulated depreciation-equipment(w)    20580  

Equipment                                                                      29400

Gain on disposal of plant assets                                     2940

Working

Accumulated depreciation = 5880 x 3.5 years

 

Dec. 31 (To record depreciation expense on truck)

                                                                     Debit        Credit

Depreciation expense                                 3724

Accumulated depreciation-equipment                       3724

Working

Annual depreciation on truck = ($32,736- $2,944) / 8 years = $3724

Depreciation for 2017 = $3724

 

Dec. 31 (To record discarding of the truck)  

                                                                     Debit        Credit

Salvaged materials                                    2,944

Accumulated depreciation-equipment    22344

Loss on disposal of plant assets               7448

Equipment                                                                    32,736

Working

Accumulated depreciation = 3724 x 6 years = 22,344

Paper Express Company has a balance sheet which lists $85 million in assets, $40 million in liabilities, and $45 million in common shareholders' equity. It has 1,400,000 common shares outstanding. The replacement cost of the assets is $115 million. The market share price is $90.What is Paper Express's market value per share?

Answers

Answer:

$90

Explanation:

Based on the information given we were told that after the assets was replaced at the amount of $115 million, the Company market share price was the amount of $90 which simply means that Paper Express's market value per share will be the market share price of the amount of $90.

Therefore Paper Express's market value per share will be $90.

When preparing an income statement vertical analysis, each revenue and expense is expressed as a percent of net income.
A. True
B. False

Answers

True , In vertical analysis for an income statement ,items of income statement are expressed as percentage of net sales.

Hope this helps! <3

Dunstreet’s Department Store would like to develop an inventory ordering policy of a 95 percent probability of not stocking out. To illustrate your recommended procedure, use as an example the ordering policy for white percale sheets.

Demand for white percale sheets is 5,000 per year. The store is open 365 days per year. Every two weeks (14 days) inventory is counted and a new order is placed. It takes 10 days for the sheets to be delivered. Standard deviation of demand for the sheets is five per day. There are currently 150 sheets on hand.

How many sheets should you order?

Answers

Answer:

The number of sheets you should order is 219 sheets.

Explanation:

Before we can determine the number sheets to order, we need to first calculate the targeted number of sheet as follows:

TN = DD * (LT + RT) + z + SDD * [tex]\sqrt{LT + RT}[/tex] .......................... (1)

Where;

TN = Targeted number of sheets = ?

DD = Daily demand = 5,000 / 365 = 13.70

LT = Lead time = 10

RT = Review time or stock taking time = 14

SDD = Standard Deviation of Daily Demand = 5

z = 1.64

Note: Since Dunstreet’s Department Store would like to develop an inventory ordering policy of a 95 percent probability of not stocking out, the z is determined by just typing the function =NORM.S.INV(0.95) in the Microsoft Excel to obtain the 1.64.

Substituting the values into equation (1), we have:

TN = 13.70 * (10 + 14) + 1.64 * 5 * [tex]\sqrt{10+14}[/tex]

TN = 369 approximately

Since there are currently 150 sheets on hand, the number of sheets you should order can be determined as follows:

Number of sheet to order = TS - Number of sheets on hand = 369 - 150 = 219 sheets

Therefore, the number of sheets you should order is 219 sheets.

Answer:

219 sheets

Explanation:

The computation of the number of sheets ordered is computed by applying the following formula

Number of sheets ordered is

= Average daily demand × (Lead time + time taken) + Service probability × standard deviation in lead time - present inventory level

where,

Standard deviation in lead time is

= [tex]\sqrt{10+14(5)}[/tex]

= 24.49

And, the service probability level could be find out by applying the =NORMSINV(0.95) in excel so the value of z is 1.64

And, all other things would remain the same

= 5,000 ÷ 365 days × (10 + 14) + (1.64) (24.49) - 150

= 219 sheets

Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019. April May June Credit sales $689,000 $598,000 $751,000 Credit purchases 302,000 282,000 338,000 Cash disbursements: Wages, taxes, and expenses 137,000 129,000 179,000 Interest 15,600 15,600 15,600 Equipment purchases 53,500 6,600 248,000 The company predicts that 5 percent of its credit sales will never be collected, 35 percent of its sales will be collected in the month of the sale, and the remaining 60 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $561,000. Using this information, complete the following cash budget: April MAY JUNEBeginning cash balance 182,000 Cash receiptCash Collection from the credit saleTotal cash available Cash Disbursement Purchase $289,000 Wages, Taxes, and expenses Interest Equipment purchases Total cash Disbursement Ending cash balance

Answers

Answer and Explanation:

The presentation of the cash budget for the three months is shown below:

Particulars                April           May               June  

Beginning

cash balance          $182,000  $264,650     $434,150  

Add:

Cash receipts :    

Credit sales

collections             $577,750  $622,700      $621,650  

Total cash

available                $759,750  $887,350      $1,055,800  

Less:

Cash disbursements  

Purchases              -$289,000 -$302,000    -$282,000  

Wages, Taxes

and expenses        -$137,000   -$129,000     -$179,000  

Interest                    -$15,600    -$15,600        -$15,600  

Equipment

purchases                -$53,500    -$6,600         -$248,000  

Total

cash disbursements  -$495,100  -$453,200    -$724,600  

Ending

cash balance              $264,650   $434,150       $331,200  

Working Notes:

Cash collection from credit sales    

Particulars           March        April        May            June

Credit sales         $561,000  $689,000 $598,000 $751,000

Cash collected :    

35% cash collected

in month of sales $196,350 $241,150  $209,300  $262,850

60% cash collected

in following month

of sales                 $0           $336,600   $413,400  $358,800

Total cash

collected from sales            $577,750  $622,700  $621,650

Which of the following would increase the likelihood that a company would increase its debt ratio, other things held constant? a. The company's stock price hits a new low. b. An increase in costs incurred when filing for bankruptcy. c. An increase in the personal tax rate. d. The Federal Reserve tightens interest rates in an effort to fight inflation. e. An increase in the corporate tax rate.

Answers

Answer:

Option e: An increase in the corporate tax rate

Explanation:

Corporate income tax rate is used to know how much people are willing to invest their new capital and also where they will place that new capital.

An increase in it is likely to encourage a company to use more debt in its capital structure.

The lower the corporate tax rate, the more it drives or leads to growth in capital stock, wages, jobs and others while the higer(increase) in corporate income tax rate, the more it affects economic decisions.

An Increase in a company's debt ratio will therefore lead to an increase in the marginal cost of both debt and equity financing. Also this action may lower the company's WACC

If budgeted beginning finished goods inventory is $8,000, budgeted ending finished goods inventory is $9,400, and budgeted cost of goods sold is $10,260, budgeted cost of goods manufactured should be

Answers

Answer:

Cost of goods manufactured= $11,660

Explanation:

Giving the following information:

Beginning inventory= $8,000

Ending inventory= $9,400

COGS= $10,260

To calculate the cost of goods manufactured, we need to use the following formula:

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

10,260 = 8,000 + cost of goods manufactured - 9,400

cost of goods manufactured= 10,260 - 8,000 + 9,400

cost of goods manufactured= $11,660

The stock in Bowie Enterprises has a beta of .87. The expected return on the market is 11.70 percent and the risk-free rate is 2.89 percent. What is the required return on the company's stock

Answers

Answer:

10.55%

Explanation:

The stock in Bowie's enterprise has a beta of 0.87

The expected return on the market is 11.70%

The risk free rate is 2.89%

Therefore, the required return on the company stock can be calculated as follows

= 2.89%+0.87(11.70%-2.89%)

= 2.89%+10.179%-2.5143%

= 2.89%+7.6647%

= 10.55%

Hence the required return on the company's stock is 10.55%

York's outstanding stock consists of 80,000 shares of noncumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of operation, the corporation declared and paid the following total cash dividends: 2015 total cash dividends $20,000 ; 2016 total cash dividends 28,000 ; 2017 total cash dividends 200,000 ; 2018 total cash dividends 350,000. Please explain how to journal this.

Answers

Answer:

dividends paid during 2015:

preferred stock dividends = $20,000, dividend per preferred stock = $0.25

common stock dividends = $0, dividend per common stock = $0

dividends paid during 2016:

preferred stock dividends = $28,000, dividend per preferred stock = $0.35

common stock dividends = $0, dividend per common stock = $0

dividends paid during 2017:

preferred stock dividends = $30,000, dividend per preferred stock = $0.375

common stock dividends = $170,000, dividend per common stock = $0.85

dividends paid during 2018:

preferred stock dividends = $30,000, dividend per preferred stock = $0.375

common stock dividends = $320,000, dividend per common stock = $1.60

Since the preferred stocks are not cumulative, any preferred dividends that are not paid during a year will not be paid in future years.

A subcontractor is responsible for outfitting six satellites that will be used for solar research. Four of the six have been completed in a total of 600 hours. If the crew has a 75% learning curve, how long should it take them to finish the last two units?

Answers

Answer: ∑Tₓ = 201.222

time required to complete the last two units is 201.222 minutes

Explanation:

Given that,

total time required to four units is 600 hours,

Learning curve applied is 75% and from the learning curve coefficient table, total time factor to complete four units at 75% learning curve is 2.946

so

∑Tₙ = T₁ × total time factor

{ ∑Tₙ is total time required to complete all the units which is 600 hrs, T₁ is Time for first unit, total time factor = 2.946 }

we substitute

∑T₄ = ∑T₁ × total time factor

600 = ∑T₁ × 2.946

∑T₁  = 600/2.946

∑T₁  = 203.666 minutes

Now to get the total time required to complete 6 units, we say:

∑T₆ = ∑T₁ × total time factor

Note that total time factor at this point changes;

( from the learning curve coefficient table, total time factor to complete 6 units at 75% learning curve is 3.934)

so we substitute

∑T₆ = 203.666 × 3.934

∑T₆ = 801.222

Now to find how long should it take them to finish the last two units, we say

∑Tₓ = ∑T₆ - ∑T₄

∑Tₓ = 801.222 - 600

∑Tₓ = 201.222

Therefore time required to complete the last two units is 201.222 minutes

The time required to complete the last two units is 201.222 minutes

Given data

Total time required to four units is 600 hours

Learning curve applied is 75% and 75% learning curve is 2.946

∑Tₙ = T₁ × total time factor

{ ∑Tₙ is total time required to complete all the units which is 600 hrs, T₁ is Time for first unit, total time factor = 2.946 }

we substitute

∑T₄ = ∑T₁ × total time factor

600 = ∑T₁ × 2.946

∑T₁  = 600/2.946

∑T₁  = 203.666 minutes

Now to get the total time required to complete 6 units, we say:

∑T₆ = ∑T₁ × total time factor

so we substitute

∑T₆ = 203.666 × 3.934

∑T₆ = 801.222

Now, we will find how long should it take them to finish the last two units

∑Tₓ = ∑T₆ - ∑T₄

∑Tₓ = 801.222 - 600

∑Tₓ = 201.222

In conclusion, the time required to complete the last two units is 201.222 minutes

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. In the step-by-step deployment of MIS in a business, which (and why) of the following will you consider as a Foundation Step for Stock broker.

a. Enterprise Resource Planning Module
b. Supply Chain Management Module
c. Customer Relationship Management Module

Answers

Answer:

C

Explanation:

Customer Relationship Management Module

Hope it helps

Hache Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below:
Beginning work in process inventory:
Units in beginning work in process inventory 1,050
Materials Costs $ 8,700
Conversion Costs $ 8,500
Percent complete with respect to materials 50%
Percent complete with respect to conversion 30%
Units started into production during the month 6,600
Units transferred to the next department during the month 5,800
Materials costs added during the month $ 91,000
Conversion costs added during the month $ 126,300
Ending work in process inventory:
Units in ending work in process inventory 1,850
Percent complete with respect to materials 50%
Percent complete with respect to conversion 20%
Note: Your answers may differ from those offered below due to rounding error. In all cases, select the answer that is the closest to the answer you computed. To reduce rounding error, carry out all computations to at least three decimal places.
The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: (Do not round Cost per equivalent unit.)
a) $67,845
b) $38,507
c) $17,478
d) $21,797

Answers

Answer:

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: d) $21,797

Explanation:

Calculation of Equivalent Units of Production

Materials

Units transferred to the next department (5,800 × 100%) = 5,800

Units in ending Work In process (1,850 × 50%)                  =    925

Total Equivalent Units of Production for Materials             = 6,725

Conversion

Units transferred to the next department (5,800 × 100%)    = 5,800

Units in ending Work In process (1,850 × 20%)                     =    370

Total Equivalent Units of Production for Conversion Costs =  6,170

Calculation of Cost per Equivalent units of Production

Materials

Cost per equivalent unit = Total Material Cost ÷ Total Equivalent Units of Production for Materials

                                        = ($ 8,700 + $ 91,000) ÷ 6,725

                                        = $14.825

Cost per equivalent unit = Total Material Cost ÷ Total Equivalent Units of Production for Materials

                                        = ($ 8,500 + $ 126,300) ÷ 6,170

                                        = $21.848

Calculation of cost of ending work in process inventory

Materials ( 925 ×  $14.825)             =  $13,713.12

Conversion Cost ( 370 × $21.848)  =  $8,083.76

Total                                                 =  $21,796.88

Thus,

The cost of ending work in process inventory in the first processing department according to the company's cost system is closest to: d) $21,797.

Dairy Wishes, a local ice cream store, finds
that it sells out of ice cream sandwiches at the current price of $1. It raises the price to increase its
revenues and finds that no one buys ice cream sandwiches anymore
The demand for icecream sandwiches is
a. inelastic.
b. elastic.
c. perfectly inelastic.
d. perfectly elastic.
e. unitary elastic.

Answers

Answer:

d. perfectly elastic.

Explanation:

Demand is perfectly elastic if it at the current price, the product is sold out but if there is a change in price demand falls to zero. the demand curve is horizontal

Demand in perfectly inelastic if there is no change in quantity demanded regardless of the change in price.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.  

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.  

Refer to the following lease amortization schedule. The five payments are made annually starting with the inception of the lease. A $2,000 bargin purchase option is exercisable at the end of the five-year lease. The asset has an expected economic life of eight years.
Lease Payment Cash Payment Effective Interest Decrease in Balance Balance
34,600
1 8,000 ?? ?? 26,600
2 8,000 2,660 5,340 21,260
3 8,000 2,126 5,874 15,386
4 8,000 1,539 6,461 8,925
5 8,000 ?? ?? ??
6 2,000 182 1,818 0
What is the effective annual inerest rate?
A. 9%
B. 10%
C. 11%
D. 20%

Answers

Answer:

B. 10%

Explanation:

The computation of the effective annual interest rate is shown below:-

Effective annual interest rate = Lease payment third effective interest ÷ Lease payment second balance × 100

= $2,126 ÷ $21,260 × 100

= 10%

Therefore for computing the effective annual interest rate we simply applied the above formula.

Hence the correct option is B.

TB MC Qu. 149 A machine with a cost... A machine with a cost of $133,000 and accumulated depreciation of $86,500 is sold for $53,000 cash. The amount that should be reported in the operating activities section reported under the direct method is:

Answers

Answer:

$0

Explanation:

Under the direct method of cash flow statement the operating activities recorded the cash revenues and cash payment only

In the given situation, there is a machine cost, accumulated depreciation and the sale of the machine is given

Nothing should be recorded in operating activities as the sale of the machine come under the investing activity

Therefore $0 should be reported

How much of the contract price should Maya allocate to the machine, installation, and training, respectively?

Answers

Answer:

I looked for the missing information and found the following:

total contract price = $920,000

individual prices:

machine = $800,000 installation = $100,000training = $100,000total = $1,000,000

Maya should allocate each performance obligation in the same proportion as if they were sold separately:

machine = ($800,000 / $1,000,000) x $920,000 = $736,000installation = ($100,000 / $1,000,000) x $920,000 = $92,000training = ($100,000 / $1,000,000) x $920,000 = $92,000

Polychromasia Company sold inventory costing $30,000 to its subsidiary, Simply Colorful, for double its cost in 2009. Polychromasia owns 80% of Simply Colorful. Simply resold $50,000 of this inventory for $60,000 to outsiders in 2009. How much unrealized profit exists at the end of the year?
a) $20,000
b) $8,000
c) $10,000
d) $5,000

Answers

Answer:

D.

Explanation:

30000 x 2 = 60000

60000 - 50000 = 10000

10000/2

= 5000

Suppose a relative has promised to give you $1,000 as a wedding gift the day you get engaged. Assuming a constant interest rate of 5%, consider the present and future values of this gift, depending on when you become engaged. Complete the first row of the table by determining the value of the gift in one and two years if you become engaged today. Present Value Value in One Year Value in Two YearsDate Received (Dollars) (Dollars) (Dollars)Today 1,000.00 ? ?In 1 year ? 1,000.00 In 2 years ? 1,000.00Complete the first column of the table by computing the present value of the gift if you get engaged in one year or two years.The present value of the gift is _________ if you get engaged in two years than it is if you get engaged in one year.

Answers

Answer:

Date Received       Present Value      Value in 1 Year    Value In 2 Years

today                       $1,000                  $1,050                 $1,102.50          

in 1 year                   $952.38               $1,000                 $1,050

in 2 years                $907.03               $952.38               $1,000      

The present value of the gift is LOWER (BY $45.35) if you get engaged in two years than it is if you get engaged in one year.

Explanation:

to determine future value:

future value = present value x (1 + interest rate)ⁿ

to determine present value:

present value = future value / (1 + interest rate)ⁿ

Suppose the rate of inflation was 2 percent in India from 2008-2012 and, over that same period, the inflation rate in the United States was 2.7 percent. Based on these inflation trends, which of the following is true?

a. The PPP condition implies that the rupee has depreciated relative to the dollar.
b. The PPP condition implies that the rupee has appreciated relative to the dollar

Answers

Answer:

b. The PPP condition implies that the rupee has appreciated relative to the dollar

Explanation:

Remember, the inflation rate looks at how the prices of goods and services in a country increases over a period of time, and it's effects on the the purchasing value or power of money in the country.

As in this scenario, India had 2 percent inflation rate while United States had 2.7 which is a higher price increases not in a different period but the same one, meaning that the Purchasing power parity (PPP) condition of the rupee has appreciated relative to the dollar from 2008-2012.

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