Answer: The promotional campaign featured how much better their burgers are
Explanation:
The most likely reason why a local restaurant will increase the prices on its burgers as soon as it begins a promotional campaign is that the promotional campaign featured how much better their burgers are.
Through the promotional campaign, the message has been passed to the customers and anyone interested that the burgers are better and customers will enjoy value for their money.
The term crowding-out effect refers to a situation in which a government _______________ results in ______________ interest rates, causing ______________ in private spending on investment and consumer durables.
Answer: Deficit; higher; a decrease
Explanation:
The term crowding-out effect refers to a situation in which a government deficit results in higher interest rates, causing a decrease in private spending on investment and consumer durables.
The Crowding-out effect is what happens when a Government increases its spending past its revenues and gets a budget deficit. In other to balance its books therefore it will borrow heavily.
If the Government is such a large one like the American Government or the British Government, the borrowing might be so large that it will have the effect of reducing the amount of loanable funds in the market thereby increasing the interest rates due to a reduced supply of loanable funds.
As there are now increased interest rates, it will be more expensive for companies to borrow to spend on investment or for consumers to spend on durables. It will have the effect of crowding out the private sector.
Which of the following statements about executing and evaluating the promotion program is most accurate?
a. Although there are five elements in the promotional mix, the only element that reallybenefits from an IMC audit is advertising.
b. Most IMC programs have no difficulty creating a pretest, but posttests are much moredifficult to construct since a number of unknown elements must be measured.
c. To fully benefit from IMC programs, companies must create and maintain a test-resultdatabase that allows comparisons of the relative impact of the promotional tools and theirexecution options in varying situations.
d. The ideal IMC program does not need any evaluation if it is executed according to plan.E. The most effective IMC audits are external. Internal audits tend to skew results to fitexpectations.
Answer: To fully benefit from IMC programs, companies must create and maintain a test-resultdatabase that allows comparisons of the relative impact of the promotional tools and their execution options in varying situations.
Explanation:
Out of the statements about executing and evaluating the promotion program that were given in the question, the option that is most accurate is that to fully benefit from IMC programs, companies must create and maintain a test-result database that allows comparisons of the relative impact of the promotional tools and their execution options in varying situations.
Therefore, option C is the correct answer.
Suppose you know a company's stock currently sells for $70 per share and the required return on the stock is 14 percent. You also know that the total return on the stock is evenly divided between a capital gains yield and a dividend yield. If it's the company's policy to always maintain a constant growth rate in its dividends, what is the current dividend per share?
Answer: $4.58
Explanation:
The required return is said to be evenly divided between a capital gains yield and a dividend yield.
That means that Dividend Yield = 7%
Capital gains yield = 7%
The Dividend Yield is based on the next dividend and given the expected return the dividend is;
Expected Return = Dividend Yield + Capital gains yield
Expected Return = Dividend(1 + g)/stock price + Capital gains yield
0.14 = Dividend ( 1 + 0.07)/70 + 0.07
70 * (0.14 - 0.07 ) = Dividend ( 1.07)
4.9 = Dividend ( 1.07)
Dividend = 4.9/1.07
Dividend = $4.58
the frequency of deposits of federal income taxes withheld and social security and medicare taxes is
Answer: A) amount of the tax liability.
Explanation:
Federal taxes like income taxes withheld and social security and Medicare taxes are mandated to be paid by the IRS depending on the amount of tax liability that is owed.
For 2020 for instance, if in a company's tax lookback period it owed $50,000 or less than $50,000 in tax liability, the company should be a monthly depositor. If however, the company owed more than $50,000 then it is to be a semi-weekly depositor.
Answer:
✓ amount of the tax liability.
Explanation:
The frequency of deposits of federal income taxes withheld and social security and Medicare taxes is most dependent on the:
For the following transaction, answer the questions that follow in accordance with the rules of journalizing and the double-entry accounting system:
Transaction:
Drawing by owner amounted to $1,500.
Required:
a. Which two accounts are affected ?
b. What kind of accounts are they?
c. Do the account balances increase or decrease?
d. Do we debit or credit the accounts?
Answer and Explanation:
Given that
Drawings by owner for $1,500
The journal entry is
Drawing Dr $1,500
To cash $1,500
(being the amount withdrawn is recorded)
a. Here the two accounts are affected one is drawings account and the second one is the cash account
b. The drawing is the equity account while the cash is the asset account
c. The drawing account is increased and the cash account is decreased
d. The drawing account is debited and cash account is credited
Central to agency theory is the concern with problems that can arise between the principals who are the owners of the firm and the agents who are the people who are paid by outside consultants to perform a job on their behalf.
a. True
b. False
Answer:
Correct Answer:
a. True
Explanation:
Agency theory is a principle that is used to explain and resolve issues in the relationship between business principals and their agents in any given company's establishment. In addition, the relationship could be one that is between shareholders, as principals on one hand, and company executives, as agents.
Agency problem is that many authors have found that include separations of ownership from control, conflict of interest and risk adverseness etc.
What is the term agency theory about?
Agency theory is a principle that is used to explain and resolve issues in the relationship between business principals and their agents in any given company's establishment.
In addition, the relationship could be one that is between shareholders, as principals on one hand, and company executives, as agents.
Therefore, correct option is True.
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If the rate of inflation is 2.2% per year, the future price pt (in dollars) of a certain item can be modeled by the following exponential function, where t is the number of years from today.
p(t)=1200(1.039^t)
Find the current price of the item and the price 9 years from today.
Answer:
1693.25
Explanation:
The computation of the current price of the item and the price 9 years from today is shown below:-
p(t) = 1,200 × (1.039)^t
Now, the current price can be found by putting t = 0
p(0) is
[tex]1,200\times (1.039)^0 = $1,200[/tex]
The price 10 years from today
p(9) is
[tex]1,200\times (1.039)^9[/tex]
Now we will solve the above equation
= 1,200 × 1.411041958
= 1693.25035
or
= 1693.25
A manager is attempting to assess the probability of a recession ending in the next six months and its impact on expected profitability. The manager believes there is a 75 percent chance the recession will end in six months and profits will return to $400 million. However, there is a 25 percent chance the recession will not end in six months, resulting in a $5 million loss. The expected profits over the next six months are:
Answer:
Expected profit = $298.75 million
Explanation:
To calculate the expected return or expected profits, we will simply multiply the probability of each event by the return expected in that event and take a sum the answers. Thus, the expected profit can be calculated as follows,
Expected profit = Probability of recession ending * Profit if recession ends + Probability of recession not ending * profit or loss if recession does not end
Expected profit = 0.75 * 400 + 0.25 * -5
Expected profit = $298.75 million
Unlike direct materials, the sum of all the direct labor variances is always equal to the flexible budget variance.
A. True
B. False
Answer:
A. True
Explanation:
Unlike direct materials, the sum of all the direct labor variances is always equal to the flexible budget variance. Also, a negative direct labor efficiency variance is considered favorable one. And for a direct labor, if the efficiency and rate variances are both negative, then the flexible budget variance will be unfavorable. Therefore, the statement of the question is true.
Mr. Fred Mitchell is requesting the birth record for Amy, his birth daughter. Mr. and Mrs. Mitchell gave Amy up for adoption four years ago. Should you release the records to him? Why or why not? Yes or No
Answer:
"No" would be the correct choice.
Explanation:
The documentation could not be issued to him whenever their Amy is indeed not Mr. Mitchel's legal offspring attributable to some other individual's custody. They cannot compensate for the demand as well as text.Whether there is some doubt about either the approved note's authenticity, seek to contact the individual by contacting himself, either correlate signs on organizational documents.A firm has sales of $1,220, net income of $226, net fixed assets of $544, and current assets of $300. The firm has $101 in inventory. What is the common-size statement value of inventory
Answer:
11.97%
Explanation:
Common size statement value of inventory is where all accounts are expressed as a percentage of total assets.
Total assets = Net fixed assets + Current assets
= $544 + $300
= $844
Common size statement value of inventory = Inventory ÷ Total assets
= $101 ÷ $844
= 0.1197
= 11.97%
Trevor Company discloses supplementary operating segment information for its three reportable segments. Data for 20X8 are available as follows:
Segment A Segment B Segment C
Sales $500,000 $300,000 $200,000
Traceable operating
expenses 250,000 120,000 90,000
Allocable costs for the year was $180,000. Allocable costs are assigned based on the ratio of a segment's income before allocable costs to total income before allocable costs. The 20X8 operating profit for Segment B was:_______.
A) $180,000.
B) $120,000.
C) $126,000.
D) $110,000.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Segment A Segment B Segment C
Sales $500,000 $300,000 $200,000
Traceable operating expenses 250,000 120,000 90,000
Profit= 250,000 180,000 110,000 = 540,000
Allocable costs for the year was $180,000.
First, we need to allocate costs to Segment B:
Segment B= 180,000/540,000= 0.33
Allocate= 0.33*180,000= 60,000
Now, we can calculate the profit:
Segment B profit= 180,000 - 60,000= 120,000
assume that autonomous consumption is $1610 billion and disposable income is $11,200 billion. Using the consumption function, calculate consumption expenditure
Answer: $9,226
Explanation;
The consumption function is;
Consumption = Autonomous consumption + (Marginal Propensity to consume * Disposable income)
Marginal Propensity to Consume;
=Increase in consumption expenditure/ Increase in Disposable income
= 680/1,000
= 0.68
Consumption = Autonomous consumption + (Marginal Propensity to consume * Disposable income)
= 1,610 + ( 0.68 * 11,200)
= $9,226
Titan Mining Corporation has 7.6 million shares of common stock outstanding, 280,000 shares of 4.5% preferred stock outstanding, and 165,000 bonds with a semi-annual coupon rate of 5.9% outstanding, par value $2,000 each. The common stock currently sells for $61 per share and has a beta of 1.15, the preferred stock has a par value of $100 and currently sells for $95 per share, and the bonds have 19 years to maturity and sell for 109% of par. The market risk premium is 7.1%, T-bills are yielding 3.5%, and the company’s tax rate is 25%.
A. What is the firm’s market value capital structure?
B. If the company is evaluating a new investment project that has the same risk as the firm’s typical project, what rate should the firm use to discount the project’s cash flows?
Answer:
A. The Capital structure is : 4.23 % - Equity, 6.59 % - Preferred Shares and 89.17 % - Debt
B. The firm should discount the project’s cash flows at 4.45 %.
Explanation:
Total Market Value = Market Value of Equity + Market Value of Debt + Market Value of Preferred Shares
Market Value of Equity = 280,000 shares × $61
= $17,080,000
Market Value of Preferred Shares = 280,000 shares × $95
= $26,600,000
Market Value of Debt = 165,000 bonds × $2,000 × 109%
= $359,700,000
Total Market Value = $403,380,000
Capital Structure :
Weight of Equity = $17,080,000 / $403,380,000 × 100
= 4.23 %
Weight of Preferred Shares = $26,600,000 / $403,380,000 × 100
= 6.59 %
Weight of Debt = $359,700,000 / $403,380,000 × 100
= 89.17 %
Thus, the market value capital structure is : 4.23 % - Equity, 6.59 % - Preferred Shares and 89.17 % - Debt
Firms use the Weighted Average Cost of Capital (WACC) to discount the project’s cash flows.
Cost of Debt, r
PV = $2000 × 109 % = - $2,100
PMT = ($2,000 × 5.9%) ÷ 2 = $59
n = 19 × 2 = 38
P/YR = 2
FV = $2,000
r = ?
Using a Financial Calculator, Pretax cost of debt, r is 5,47 %
After tax cost of debt = Interest × ( 1 - tax rate)
= 5,47 % × ( 1 - 0.25)
= 4.10 %
Cost of Equity
Cost of Equity = Return on Risk Free Security + Beta × Return on Risk Premium Portfolio
= 3.5 % + 1.15 × 7.1%
= 11.67 %
Cost of Preference Stock
Cost of Preference Stocks = 4.5%
WACC = ke(W/V) + kd(D/V) + kp(P/V)
= 11.67 % × 4.23 % + 4.10 % × 89.17 % + 4.5% × 6.59 %
= 4.45 %
A customer has purchased 10,000 shares of Fromage stock, a Swiss cheese company. The stock is not traded in the United States. Fromage declares and pays a dividend of 15,000 Swiss Francs, which, when converted to dollars, equals $10,000. Switzerland imposes a 20% withholding tax on dividends repatriated outside its borders. How is the dividend reported on this investor's U.S. tax return
Answer:
$10,000 of dividends are reported, along with a $2,000 tax credit for monies withheld in Switzerland
Explanation:
As we know that if there is a direct investment in a foreign security, so the foreign country having a tax on dividend send an individual his home country against his will now if this condition arise so the same i.e tax credit should be levy on the same person while filing the U.S tax return
Since $10,000 dividend is received along with it $2,000 would be the tax credit
The open interest on silver futures at a particular time is the Group of answer choices number of all long or short silver futures contracts outstanding. number of silver futures contracts traded during the day. number of silver futures contracts traded the previous day. number of outstanding silver futures contracts for delivery within the next month.
Answer:
number of all long or short silver futures contracts outstanding.
Explanation:
The open interest on silver futures at a particular time is the number of all long or short silver futures contracts outstanding. Open interest can be defined as the total or overall number of contracts (open long and short positions) outstanding in a futures market.
In stocks exchange, when a contract begins trading it has an open interest that is equal to zero and in future dates, more contracts are entered into as time passes by.
Additionally, majority of the contracts are liquidated before their maturity date.
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,400 units. The costs and percentage completion of these units in beginning inventory were: 2 points Percent Complete 60% 55% Cost $ 7,000 $10,300 Materials costs Conversion costs 01:53:47 A total of 10,500 units were started and 8.900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: eBook Materials costs Conversion costs $ 96,800 $171,000 References The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs.
How many units are in ending work in process inventory in the first processing department at the end of the month?
a. 4,000
b. 1,800
c. 8.100
d. 1,600
Answer:
a. 4,000
Explanation:
Units in ending inventory
= Units in beginning work in process + Units started into production - Units transferred to the next department
= 2,400 + 10,500 - 8,900
= 4,000 units
A catering company prepared and served 375 meals at an anniversary celebration last week using 3 workers. The week before, 2 workers prepared and served 225 meals at a wedding reception
a1. Calculate the labor productivity for each event. (Round your answers to 1 decimal place.) Anniversary Wedding meals/worker meals/worker
a2. For which event was the labor productivity higher?
Anniversary
Wedding
Answer:
for anniversary = 125
for wedding = 112.5
anniversary
Explanation:
Labour productivity = number of meals / total number of workers
for anniversary = 375 / 3 = 125
for wedding = 225 / 2 = 112.5
labour productivity is higher for the anniversary because one unit of labour produces more meals when compared to the wedding.
The Marketing Control Statement is a valuable statement for marketers because it only utilizes costs that the marketer can control. True False
Answer: True
Explanation:
The Marketing Control Statement is quite beneficial to marketers as it avoids fixed costs and shows them the variable and programmed costs both of which can be controlled. This enables them to know what they need to and can change in a way that they can come up with an optimal marketing mix to ensure profitability.
It is also a very uncomplicated statement to prepare which further ingratiates it to marketers who would like to avoid all the jargon of income statements.
The given statement is true.
The following information should be considered:
The Marketing Control Statement should be beneficial for marketers as in this the fixed cost are ignored and the variable & other cost should be controlled. Due to this, the profitability should increasedTherefore we can conclude that The given statement is true.
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Which of the following countries would likely have the greatest success is exporting television and other media to Mexico?
a. Brazil
b. Canada
c. Japan
d. Spain
Answer:
d. Spain
Explanation:
The country that would have the greatest success in doing this would be Spain. This is mainly due to the fact that Mexico's main language is Spanish just like in Spain (even though the dialect is different). The other countries listed all speak different languages which will not fair well with Mexican audiences since they will not understand the media. In Brazil, they speak Portuguese. In Canada, they speak English. In Japan, they speak Japanese.
Which of the following statements is not true about self-awareness?
a. Self-awareness involves a capacity to monitor and control biases that potentially affect your decision making.
b. Managers who have low self-awareness are superior performers.
c. Self-awareness can be increased by acquiring multiple experiences in diverse situations and with diverse others.
d. Self-awareness is best described as the capacity for introspection and the ability to reconcile oneself as an individual separates from the environment and other individuals.
Answer:
b. Managers who have low self-awareness are superior performers.
Explanation:
Self-awareness can be defined as a mental process, which occurs when an individual has knowledge about himself, about his knowledge, his actions and attitudes.
Therefore, in the workplace, having self-awareness is essential for a manager to achieve high performance, as this is a skill that includes knowing your skills, values, internal resources that ensure that there is the possibility of better monitoring of environments and oneself, control of emotions and improved perception of oneself and others.
This is a characteristic that adds to a manager 's assertive ability to establish communication focused on ethics, mutual respect, cordiality, etc.
The statement that is not true about self awareness from the list is B. "Managers who have low self-awareness are superior performers."
Self awareness refers to the ability of one to understand their thoughts, feelings, impulses and actions. Being self aware is a very important leadership attribute.
Therefore the statement that 'managers who have low self awareness are superior performers' is wrong.
A manager that lacks self awareness will definitely not perform their job effectively.
Self awareness helps one to become better at making decisions, it helps control biases, communicate more effectively and build good relationships in the work place or other places.
Thus, we can conclude that managers who have low self awareness are not superior performers.
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Abey Kuruvilla, of Parkside Plumbing, uses 1,210 of a certain spare part that costs $26 for each order, with an annual holding cost of $24. a) Calculate the total cost for order sizes of 25, 40, 50, 60, and 100 (round your responses to two decimal places).
Answer:
Annual demand(D) = 1,210
Ordering cost(S) = $26
Annual holding cost (H) = $24
With the order quantity(Q) = 25,
Total cost = Holding cost + ordering cost
= [(Q/2)H] + [(D/Q)S]
= [(25/2)24] + [(1210/25)26]
= $300 + $1258.4
= $1558.4
With the order quantity(Q) = 40,
Total cost = Holding cost + ordering cost
= [(Q/2)H] + [(D/Q)S]
= [(40/2)24] + [(1210/40)26]
= $480 + $786.5
= $1266.5
With the order quantity(Q) = 50,
Total cost = Holding cost + ordering cost
= [(Q/2)H] + [(D/Q)S]
= [(50/2)24] + [(1210/50)26]
= $600 + $605
= $1205
With the order quantity(Q) = 60,
Total cost = Holding cost + ordering cost
= [(Q/2)H] + [(D/Q)S]
= [(60/2)24] + [(1210/60)26]
= $720 + $524.33
= $1244.33
With the order quantity(Q) = 100,
Total cost = Holding cost + ordering cost
= [(Q/2)H] + [(D/Q)S]
= [(100/2)24] + [(1210/100)26]
= $1200 + $314.6
= $1514.6
The following information describes the production activities of Mercer Manufacturing for the year.
Actual direct materials used 28,000 lbs. at $4.90 per lb.
Actual direct labor used 8,650 hours for a total of $174,730
Actual units produced 51,600
The budgeted standards for each unit produced are 0.50 pounds of direct material at $6.85 per pound and 10 minutes of direct labor at $21.20 per hour.
1. Compute the direct materials price and quantity variances. Do not round intermediate calculations.
2. Compute the direct labor rate and efficiency variances. Indicate whether each variance is favorable or unfavorable. Do not round intermediate calculations.
Answer:
Actual Quantity = 28,000
Actual Price = 4.90
Standard Quantity = 25,800
Standard Price = 4.85
1)a. Direct Material Price variance = (Standard price – Actual Price)*Actual Quantity
= (4.85 - 4.90) * 28,000
= $1,400 U
b. Direct Material Quantity variance = (Standard Quantity – Actual Quantity)*Standard price
= (51,600*0.5 - 28,000)*4.85
= $10,670 U
2) a. Direct Labor Rate Variance = (Standard Rate – Actual Rate)*Actual Hours
= (21.20 - 20.2) * 8,650
= $8,650 F
b. Direct Labor Efficiency variance = (Standard Hours – Actual Hours)*Standard rate
= (51,600*1/6 - 8,650) * 21.20
= $1,060 U
The calculation of WACC involves calculating the weighted average of the required rates of return on debt and equity, where the weights equal the percentage of each type of financing in the firm's overall capital structure.
_________ is the symbol that represents the cost of preferred stock in the weighted average cost of capital (WACC) equation.
Bryant Co. has $2.3 million of debt, $1.5 million of preferred stock, and $1.8 million of common equity. What would be its weight on common equity?
A. 0.32
B. 0.24
C. 0.22
D. 0.30
Answer:
Option A is the correct answer
Weight of equity =0.32
Explanation:
Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund.
The weight is the market value of nominal value of the source of fund as a proportion of the total capital funds.
Total capital funds = Debt funds + Preferred Funds + Equity funds
= ($2.3 + $1.5 + $1.8 ) million = $5.6 million
Weight of equity = Equity capital/Total capital funds
= 1.8/5.6 =0.32
Weight of equity =0.32
Nautical has two classes of stock authorized: $10 par preferred, and $1 par value common. As of the beginning of 2015, 125 shares of preferred stock and 2,700 shares of common stock have been issued. The following transactions affect stockholders� equity during 2015:
March 1 Issue 2,700 additional shares of common stock for $13 per share.
April 1 Issue 175 additional shares of preferred stock for $37 per share.
June 1
Declare a cash dividend on both common and preferred stock of $0.40 per share to all stockholders of record on June 15.
June 30 Pay the cash dividends declared on June 1.
August 1 Repurchase 175 shares of common treasury stock for $10 per share.
October 1 Reissue 125 shares of treasury stock purchased on August 1 for $12 per share.
Nautical has the following beginning balances in its stockholders� equity accounts on January 1, 2015: Preferred Stock, $1,250; Common Stock, $2,700; Paid-in Capital, $19,200; and Retained Earnings, $11,200. Net income for the year ended December 31, 2015, is $7,500.
Required:
1. Record each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
2. Select whether each of these transactions would increase (+), decrease (?), on total assets, total liabilities, and total stockholders� equity by completing the following table. (If none of the categories apply for a particular item, leave the cell blank.)
Transaction Total Assets Total Liabilities Total Stockholders Equity
Issue common stock
Issue preferred stock
Declare cash divedens
Pay cash divedens
Repurchase treasury stock
Reissue treasury stock
Answer:
Nautical1. Journal Entries:
March 1:
Debit Cash Account $35,100
Credit Common Stock $35,100
To record the issue of 2,700 shares of common stock for $13 per share.
April 1:
Debit Cash Account $6,475
Credit Preferred STock $6,475
To record the issue of 175 shares of preferred stock for $37 per share.
June 1:
Debit Dividends $2,280
Credit Dividends Payable $2,280
To record dividends of $0.40 per share to all stockholders of record.
June 30:
Debit Dividends Payable $2,280
Credit Cash Account $2,280
To record the payment of cash dividends.
August 1:
Debit Treasury Stock $1,750
Credit Cash Account $1,750
To record the repurchase of 175 shares of common stock for $10 per share.
October 1:
Debit Cash Account $1,500
Credit Treasury Stock Account $1,500
To record the reissue of 125 shares of treasury stock for $12 per share.
2. Selection of whether each of these transactions would increase (+), decrease (?), on total assets, total liabilities, and total stockholders' equity:
Transaction Assets Liabilities Stockholders
Total Total Total Equity
Issue common stock $35,100 +$35,100 +$35,000
Issue preferred stock $6,475 +$6,475 +$6,475
Declare cash dividends $2,280 +$2,280 ?$2,280
Pay cash dividends $2,280 ?$2,280 ?$2,280
Repurchase treasury stock $1,750 ?$1,750 ?$1,750
Reissue treasury stock $1,500 +$1,500 +$1,500
Explanation:
a) Data and Calculations:
Authorized share capital:
$10 par preferred
$1 par value common
Issued, beginning of 2015:
Preferred = 125 shares
Common = 2,700 shares
b) The issue of 2,700 additional shares of common stock for $13 per share totalled $35,100. This amount is credited to the Common Stock and the receipt of cash debited to the Cash Account. The same is applicable with respect to the 175 additional shares issued at $37 per share.
c) When a cash dividend is declared, the stockholders of record on the record date of June 15 are noted, since they are the only ones that will participate in the dividends. The accounting records are debit to the dividend account and a credit to the Dividends Payable account, establishing the liability. The payment for the declared dividend is recorded with a debit to the Dividends Payable account to close the liability and a credit to the Cash Account.
d) Treasury stock is a stock of common stock repurchased by the company. The issue and reissue of treasury stock are treated in the treasury stock account if the costing method is used, otherwise, the par-value method would be operational.
In a task assignment situation, in how many different ways can five jobs be assigned to five machines if each job must be assigned to each machine and each machine must be assigned one job?
A. 5
B. 1
C. 3,125
D. 120
E. 25
Answer: D. 120
Explanation:
The first machine being assigned a job can be assigned one from 5 jobs.
Once that happens, the next machine can only be assigned from any one of 4 jobs.
The next machine, any one of 3 jobs.
The next machine, any one of 2 jobs.
The Last machine gets the last job remaining.
The different ways a job can be assigned therefore are;
= 5 * 4 * 3 * 2 * 1
= 120
When a deliverable arrived, Craig met with the team member responsible
for ordering the deliverable to confirm it was the correct model and size.
Which of the following project elements was Craig monitoring in this scenario?
a. Budget
b. Schedule
c. Scope
d. Risk
Answer:
Project Element Craig Monitored in this scenario:
d. Risk
Explanation:
The element of the project that Craig monitored ensures that the deliverable conforms with the correct model and size because there is the risk that this could not conform if a deliverable was not not checked with the team member who ordered the deliverable. Since higher risks of deliverables not conforming to model and size would render the whole project unsuccessful, Craig has to meet with the team member responsible. In order words, the meeting between Craig and the team member for confirmation of correct model and size eliminates the risks of non-conformance.
In the example above when deliverable came and Craig met with the team member for ordering confirming whether the model and size was correct, Craig was monitoring Risk. So the correct option is D.
Risk refers to the possibility chances that the desired or the expected result will be obtained from the activities that are undertaken. Risk is directly related to the reward of such activity.
In the example above where Craig confirms whether the model and size of goods arrived were correct with the help of the team member who ordered such deliverable, risk was being monitored.In this case the risk can be denoted by value of 1 as the chances of getting the correct model and size are equal with chances of getting the incorrect model and size. Risk can be denoted by beta .[tex]\rm Risk = \beta[/tex]
Monitoring of risk is an important aspect so as to ensure whether the activities undertaken for the benefit of the business are standing true to their efforts or not.
Hence, the correct option is D that Craig was monitoring risk by checking the deliverable was correct in terms of model and size with the help of a team member.
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Milano Gallery purchases the copyright on an oil painting for $510,000 on January 1, 2017. The copyright legally protects its owner for 12 more years. The company plans to market and sell prints of the original for 19 years.
Requried:
Prepare entries to record the purchase of the copyright on January 1, 2017, and its annual amortization on December 31, 2017.
Answer:
See journal entries below.
Explanation:
The copy right is known as an intangible asset that is purchased to a business hence debited to factor in its purchase value while the bank is credited for the payment for the purchase.
Although the copyright is amortized for 12 years, the copyright protection expires after 12 years - which is the legal year irrespective of its plan to market and sell the painting for 19 years.
• Entries to record to record the purchase of copyrights on January 1, 2017.
Date
January 1,2017
Copyright Dr $510,000
Bank Cr $510,000
(Being purchase of 12 years painting copyrights)
• Annual amortization on December 31, 2017
December 31, 2017
Amortization Dr $42,500
Copyright Cr $42,500
(Being annual amortization cost on 12 years painting copyright)
4. Suppose you hold a PUT option on Israeli shekels with a strike price of 3.4207s/$. If the spot rate on the final day of the option is 3.4329s/$, how much profit would you make trading $1,000,000? Should you do it?
Answer:
Profit $3,567
I would exercise my option by buying the shares before the expiration .
Explanation:
Calculation of how much profit would you make trading $1,000,000
First step is to multiply the spot rate on the final day by the trading amount
3.4329s*$1,000,000
=$3,432,900
Second step is to divide the spot rate option by the strike price
3,432,900/3.4207
=$1,003,567
Last Step is to find the profit
Profit =$1,003,567-$1,000,000
Profit=$3,567
Therefore the amount of PROFIT you would make trading $1,000,000 will be $3,567
Based on the above calculation I would exercise my option by buying the shares before the expiration .
The unfavorable volume variance may be due to all of the following factors except:_______
a. failure to maintain an even flow of work
b. machine breakdowns
c. failure to obtain enough sales orders
d. unexpected increases in the cost of utilities
Answer:
d. unexpected increases in the cost of utilities
Explanation:
there are several volume variances:
direct materials volume variancedirect labor volume variancemanufacturing overhead volume variance sales volume varianceUtilities are part of manufacturing overhead, but volume variances using the standard rates, so an unexpected increase in the cost of utilities will not affect the overhead volume variance.
The unfavorable volume variance can not be due because of unexpected Increases in the cost of utilities
Unfavorable volume variance means that the amount of applied fixed manufacturing overhead costs is less than the budgeted fixed manufacturing overhead costs
The machine breakdowns will affect production levels, thus, resulting to unfavorable volume variance.
The failure to maintain even flow of work will impact the production quantities, thus, resulting to unfavorable volume variances
The failure to obtain enough sales order will limit production quantities, thus, resulting to unfavorable volume variances.
Thus, the Option D is correct because unfavorable volume variance can not be due because of unexpected Increases in the cost of utilities
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