Answer:
The total cost of the stock purchase was $ 35,371.87.
Explanation:
Since Bobby bought 550 shares of stock at $ 61.25 per share, and his broker charges 4% commission for round lots and 5% for odd lots, to calculate the total cost of the stock purchase the following calculation must be performed:
Odd lot = less than 100 shares, or sum not divisible by 100
550 = odd lot
(550 x 61.25) x 0.05 = X
33,687.5 x 0.05 = X
1,684.375 = X
33,687.5 + 1,684,375 = 35,371,875
Therefore, the total cost of the stock purchase was $ 35,371.87.
Why should you stay organized when doing a research paper
Answer:
cuz if u don't stay organized then the information may lost
Answer:
Staying organized is one of the most important skills when a student first learns
how to write a research paper. It will help your stress levels as well as make the writing process go much faster.
Which of the following does NOT describe the front-end business practices of firms that respect the strategic roles of purchasing?
a. Product development is regarded as a front-end business practice.
b. Creativity does not require discipline.
c. Marketing in general is regarded as a front-end business practice.
d. High level of uncertainty is about the fact that people have to make important decisions and although they do not have all the relevant information they need.
e. Front-end business practices are discovery-driven in that they explore and create from what they do not know about.
Answer:
b. Creativity does not require discipline.
Explanation:
Front end business practice is the strategy to develop and progress business activities from customer perspective. It focusses on customer demand and then products are customized according to customer needs. Marketing efforts are placed to inform customers about the different features of the product.
Imagine you are reviewing a business plan. In which section of the business plan would you expect to find the answers to the following questions?
Question Financial Statements Marketing & Sales Management Service or Product Line
How much money will the owners invest in the business start-up?
How will the salespeople for this business be compensated?
What are the unique features of this business’s merchandise?
Answer:
Hence,
The money which the owners invest in the business start-up is by Financial statements.
The salespeople for this business be compensated is by Marketing & sales management.
The unique features of this business’s merchandise are by Service or product line.
Explanation:
Financial statements show how much money will the owners invest in the business start-up.
Marketing & sales management shows how will the salespeople for this business be compensated.
Service or product line shows What are the unique features of this business’s merchandise
Types of Financial Assets Match the description of the security to the type of financial asset. A security that provides a payoff that depends on the values of other assets. Multiple Choice equity security debt security derivative security None of these
Answer: Derivative security
Explanation:
Derivative security is referred to as the security that provides a payoff which depends on the values of other assets.
A derivative security is referred to as the financial instrument whereby the value depends on the value of another asset. There are different types of derivatives such as options, swaps, futures, and forwards. Example of derivative security is convertible bond.
KJ Pharma issues new bonds to fund an acquisition. The face value of the bond is $100 and annual coupon is 6.5%. Further, this bond matures in 20 years and is issued at a price of $105. Assuming KJ Pharma's tax rate is 30%, what is its After-Tax Cost of Debt
Answer:
4.24%
Explanation:
The computation of the after tax cost of debt is given below:
But before that we have to determine the before tax of debt by using RATE formula
Given that
Future value be $100
Present value be $105
PMT is $100 × 6.5% = $6.5
NPER is 20
The formula is
=RATE(NPER,PMT,-PV,FV,TYPE)
After applying the above formula, the before tax cost of debt is 6.06%
Now the after tax cost of debt is
= 6.06% × (1 - 0.30)
= 4.24%
Fran’s Fries has budgeted sales for May, June and July at $500,000, $680,000 and $720,000, respectively. Sales are 80% cash and 20% on account. Assume sales on account are collected in the month following the sale. Compute cash receipts for June and July. Show your work here.
Answer:
Results are below
Explanation:
Giving the following information:
Sales are 80% cash and 20% on account.
Sales:
May= $500,000
June= $680,000
July= $720,000
Cash collection June:
Cash collection from May= (500,000*0.2)= 100,000
Cash collection June= (680,000*0.8)= 544,000
Cash collection June= $644,000
Cash collection July:
Cash collection from June= (680,000*0.2)= 136,000
Cash collection July= (720,000*0.8)= 576,000
Cash collection July= $712,000
Identifying your sources will help you to establish credibility.
Question 6 options:
True
False
Answer:
True
Explanation:
Identifying your sources help your audience believe that your information is reliable.
The statement is True. Identifying your sources will help you to establish credibility.
You can increase your trustworthiness by: Being competent is being knowledgeable in your chosen subject. Giving accurate, verified facts is being honest. Responsibility for your choices and deeds.
Why is it important to establish credibility?
Credibility is a crucial quality since it has the power to change people's habits, attitudes, and behaviors. Therefore, if a business, its representatives, or its brand lack credibility, others will be less inclined to trust what is being said or taught, making communication pointless.
You must be regarded as a reliable source of information and judgment by your team members if you want to build credibility. However, when it comes to establishing credibility, deeds speak louder than words. For instance, you risk losing people's confidence if you don't keep your word or make poor decisions without a clear plan.
Thus, Three factors trustworthiness, expertise, and dynamism were taken into consideration while evaluating the people we were working with when only considering their credibility.
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What is one of the key phases of procurement processes that employ competitive bidding mechanisms?
A car dealer leases a small computer with software for $5,000 per year. As an alterative he could buy the computer for $7,500 and lease the software for $3,500 per year. Any time he would decide to switch to some other computer he could cancel software lease and sell the computer for $500.
If he buys the computer nad leases the software, what is the payback period?
a. 3 years
b. 4 years
c. 5 years
d. 6 years
If he kept the computer and software for 8 years, what would be the benefit-cost ratio, based on a 5% interest rate.
a. 1.5
b. 1.4
c. 1.3
d. 1.2
Answer:
1. The payback period is:
= 3 years
2. The benefit-cost ratio is:
= 1.1
Explanation:
a) Data and Calculations:
Leasing Computer Buying Computer &
with Software Leasing Software
Annual lease payment $5,000 $3,500
Cost of computer $7,500
Salvage value of computer $500
Usage period 8 years 8 years
Interest rate 5% 5%
Present value annuity factor 6.463 6.463
Present value factor for salvage 0.677
Present value of annuity $32,315 $29,782 ($22,621 + $7,500 - 339)
$22,782 = ($3,500 * 6.463 + $7,500 - ($500 * 0.677))
Benefit-cost ratio = $32,315/$29,782 = 1.1
If variances are recorded in the accounts at the time the manufacturing costs are incurred, what does a debit balance in Direct Materials Price Variance represent?
Answer:
unfavorable variance
Explanation:
In such situation, a debit balance in Direct Materials Price Variance represents
unfavorable variance. This is an accounting term that explains situations when the actual cost of the project is higher than the standard or projected cost.
It means that the actual price at which the materials are bought is higher than the standard price / budgeted price / estimated price and therefore, more amount has to be paid than expected.
Mark owns a driving range in New York City. He has taken notice of the three competitors who are located very close to his business. Mark decides to look at his competitors' pricing and then determine his best pricing strategy based on all of the information. In this scenario, Mark is utilizing ________.
Answer:
competitor-based pricing
Explanation:
Since in the given situation, it is mentioned that mark look to the competitor pricing and them measures it pricing startegy
So here Mark is utilizing competitor based pricing as the mark has decided the price that depend upon his competiton. It is mainly applied for those products who are almost same with the competitor products.
Therefore the above should be the answer for the given scenario.
Slapshot Company makes ice hockey sticks. Last week, direct materials (wood, paint, Kevlar, and resin) costing $26,000 were put into production. Direct labor of $20,000 (10 workers x 100 hours x $20 per hour) was incurred. Manufacturing overhead equaled $52,000. By the end of the week, the company had manufactured 2,000 hockey stick. Explain how?
Answer:
Slapshot Company
The total production is $98,000 with a unit cost of $49 per hockey stick.
The selling price per unit should be above $49 when marked-up.
Explanation:
a) Data and Calculations:
Direct materials (wood, paint, Kevlar, and resin) $26,000
Direct labor (10 workers x 100 hours x $20 per hour) 20,000
Manufacturing overhead equaled 52,000
Total production costs = $98,000
Production of hockey stick = 2,000 units
Unit cost of hockey stick = $49 ($98,000/2,000)
A store has two different coupons that customers can use. One coupon gives the customer $15 off their purchase, and the other coupon gives the customer 30% off of their purchase. Suppose they let a customer use both coupons and choose which coupon gets applied first. For this context, ignore sales tax.
Let f be the function that inputs a cost (in dollars) and outputs the cost after applying the "$15 off" coupon, and let g be the function that inputs a cost (in dollars) and outputs the cost after applying the "35% off" coupon.
a. Suppose acustomerwants to purchase asi 40 item and apply the si 5 of coupon first, and then the 35% or coupon How much will the item cost after applying the coupons?
b. Suppose a customer wants to purchase a S 140 item and apply the SI 5 off coupon first, and then the 35% or coupon Ure ction notation to represent how much the item will cost (dollars) after applying the coupons.
c. Suppose a customer wants to purchase a $140 item and apply the 35% om coupon first and then the sis of coupon How much will the item cost after applying the coupons?
d. Suppose a customer wants to purchase a S 140 item and apply the "35% or coupon first and then the "S 15 off coupon. Usefu ction notation to represent how much the item will cost (dollars) after applying the coupons.
Answer:
16.25;
g(f(x)) ;
76 ;
f(g(x))
Explanation:
For 15 off
f(x) = x - 15
For 35% off
g(x) = (1 - 0.35)x = 0.65x
g(x) = 0.65x
A.)
For the $15 off coupon :
f(x) = x - 15
f(x) 40 - 15 = 25
For the 35% coupon :
g(x) = (1-0.35)x
g(x) = 0.65(25)
g(x) = 16.25
B.)
Applying $15 off first, then 35%
Here, g is a function of f(x)
g(f(x))
Here g(x) takes in the result of f(x) ;
For the $140 off coupon :
f(x) = x - 15
f(140) = 140 - 15 = 125
For the 35% coupon :
g(125) = (1-0.35)x
g(124) = 0.65(125) = $81.25
C.)
x = 140
g(x) = 0.65x
g(140) = 0.65(140)
g(140) = 91
f(x) = x - 15
f(91) = 91 - 15
f(91) = 76
D.)
Here, F is a function of g(x)
f(g(x))
f(x) = (0.65*140) - 15
Eric, a ghost writer, conducted market research and discovered a niche market in writing scripts for corporate online videos. He also knows now the market will bear $250 per script. What question should he ask next about placement of his marketing mix
Answer: What is the best way to get his service to his target customers
Explanation:
Market research is the process of determining how viable a product will be after research has been conducted in the market. This is vital in getting opinions of customers.
Marketing mix are the marketing tools which an organization can use in order to pursue its marketing objectives.
The question that should be asked about the marketing mix placement is "What is the best way to get his service to his target customers". This is vital in knowing the best method to use in making the product available to the customers.
Wallaby Kite Company, a small Melbourne firm that sells kites on the Web, wants a master budget for the three months beginning January 1, 2012. It desires an ending minimum cash balance of $20,000 each month. Sales are forecast at an average wholesale selling price of $8 per kite. Merchandise costs average $4 per kite. All sales are on credit, payable within 30 days, but experience has shown that 60 percent of current sales are collected in the current month, 30 percent in the next month, and 10 percent in the month thereafter. Bad debts are negligible.
In January, Wallaby Kite is beginning just-in-time (JIT) deliveries from suppliers, which means that purchases will equal expected sales. On January 1, purchases will cease until inventory decreases to $24,000, after which time purchases will equal sales. Purchases during any given month are paid in full during the following month. Monthly operating expenses are as follows:
Wages and salaries....$60,000
Insurance expired...........500
Depreciation.................1,000
Miscellaneous.............10,000
$1,000/month + 10% of quarterly sales over
Rent...........................$40,000
Cash dividends of $6,000 are to be paid quarterly, beginning January 15, and are declared on the 15th of the previous month. All operating expenses are paid as incurred, except insurance, depreciation, and rent. Rent of $1,000 is paid at the beginning of each month, and the additional 10 percent of sales is paid quarterly on the 10th of the month following the end of the quarter. The next rent settlement date is January 10.
The company plans to buy some new fixtures for $12,000 cash in March.
Money can be borrowed and repaid in multiples of $2,000. Management wants to minimize borrowing and repay rapidly. Simple interest of 10 percent per annum is computed monthly but paid when the principal is repaid. Assume that borrowing occurs at the beginning, and repayments at the end, of the months in question. Compute interest to the nearest dollar.
Answer:
ask brainly lol
Explanation:
What are the desirable personal characteristics, attributes, lifestyles, skills, and traits of a prospective entrepreneur? Why are these important?
Answer:
The answer is below
Explanation
1. There are various desirable personal characteristics, attributes, lifestyles, skills, and traits of a prospective entrepreneur, some of them include
Competency,
Hardworking,
Risk-taking
Innovation
Perception
2. These characteristics or attributes of an entrepreneur are important because they guide and lead the entrepreneur in making the right decision. It also helps entrepreneurs to solve issues like conflicts, hire and fire where necessary, etc.
Using the following transactions, record journal entries, create financial statements, and assess the impact of each transaction on the financial statements.
Jun. 1 Jenna Aracel, the owner, invested $100,000 cash, office equipment with a value of $5,000, and $60,000 of drafting equipment to launch the company in exchange for common stock.
Jun. 2 The company purchased land worth $49,000 for an office by paying $6,300 cash and signing a long-term note payable for $42,700.
Jun. 3 The company purchased a portable building with $55,000 cash and moved it onto the land acquired on June 2.
Jun. 4 The company paid $3,000 cash for the premium on an 18-month insurance policy.
Jun. 5 The company completed and delivered a set of plans for a client and collected $6,200 cash.
Jun. 6 The company purchased $20,000 of additional drafting equipment by paying $9,500 cash and signing a long-term note payable for $10,500.
Jun. 7 The company completed $14,000 of engineering services for a client. This amount is to be received in 30 days.
Jun. 8 The company purchased $1,150 of additional office equipment on credit.
Jun. 9 The company completed engineering services for $22,000 on credit.
Jun. 10 The company received a bill for rent of equipment that was used on a recently completed job. The $1,333 rent cost must be paid within 30 days.
Jun. 12 The company collected $7,000 cash in partial payment from the client billed on June 9.
Jun. 14 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 17 The company paid $1,150 cash to settle the account payable created in on June 8.
Jun. 20 The company paid $925 cash for minor maintenance of its drafting equipment.
Jun. 23 The company paid $9,480 cash in dividends.
Jun. 28 The company paid $1,200 cash for wages to a drafting assistant.
Jun. 29 The company paid $2,500 cash for advertisements on the web during June.
Required:
Journalize the above entires.
Answer:
1 - Cash (Dr.) $100,000
Office equipment (Dr.) $5,000
Drafting equipment (Dr.) $60,000
Capital (Cr.) $165,000
2- Land (Dr.) $49,000
Cash (Cr.) $6,300
Long term notes payable (Cr.) $42,700
3- Portable building (Dr.) $55,000
Cash (Cr.) $55,000
4- Insurance premium (Dr.) $3,000
Cash (Cr.) $3,000
5- Cash (Dr.) $6,200
Service Revenue (Cr.) $6,200
Explanation:
6- Drafting equipment (Dr.) $20,000
Cash (Cr.) $9,500
Long term notes payable (Cr.) $10,500
7- Accounts Receivable (Dr.) $14,000
Service revenue (Cr.) $14,000
8- Office equipment (Dr.) $1,150
Accounts Payable (Cr.) $1,150
9- Accounts Receivable (Dr.) $22,000
Engineering Service (Cr.) $22,000
10- Cash (Dr.) $9,000
Accounts Receivable (Cr.) $9,000
11- Wages expense (Dr.) $1,200
Cash (Cr.) $1,200
12- Accounts Payable (Dr.) $1,150
Cash (Cr.) $1,150
13- Maintenance expense (Dr.) $925
Cash (Cr.) $925
14- Dividends (Dr.) $9,480
Cash (Cr.) $9,480
15- Wages expense (Dr.) $1,200
Cash (Cr.) $1,200
16- Advertising expense (Dr.) $2,500
Cash (Cr.) $2,500
Assume a pro rata reinsurance agreement with a 35% retention. Further assume a primary insurance contract with limits of $2,500,000, premiums of $20,000 and deductible $10,000. a)How much premium will the primary insurance company retain
Answer: $7000
Explanation:
Since there is a pro rata reinsurance agreement with a 35% retention, primary insurance contract with limits of $2,500,000, premiums of $20,000 and deductible $10,000, then the amount of premium that the primary insurance company will retain will be:
= Retention rate × Premium
= 35% × $20000
= 0.35 × $20000
= $7000
Using the money demand and money supply model, an open market purchase of Treasury securities by the Federal Reserve would cause the equilibrium interest rate to
Answer:
C. decrease
Explanation:
In the case when the money demand and the money supply model is used so the open market purchase would result the interest rate of equilibrium to decrease as if there is an open market purchase so it rise the money supply due to which the supply curve of the money move shiftward
Therefore the rate of interest should be decreased
Explain the 5 marketing objectives?
Answer:
creation of demand
customer satisfaction
market share
generation for profits
public image
Fraternity is protected under the ..
-Federal law
-Provincial law
-none of them
-Charter of rights and freedoms.
Fraternity is protected under the federal law.
As a social association, a Fraternity is protected with first amendment rights. The first amendment has a right to freedom of association while the fourteenth amendment offers equal protection rights.
A fraternity by definition are a group of people that have common interests. These interests could be religious or secular.
The first amendment offers protection to associations formed for speech, assembly, religion or to take care of grievances.
Therefore a fraternity is protected by Federal law.
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The demand for personal computers has been estimated to be Q = 500,000 – 700P +200I - 500S. Assume that per capita income I is $13,000 and the average price ofsoftware S is $400.When the price of personal computers is P = $3,000, the priceelasticity of demand is:________.a. –2.625b. –7.0c. –1.0d. –21.0e. –4.25
Answer:
The price elasticity of demand is: -2.625
Explanation:
Given
[tex]Q = 500000 - 700P +200I - 500S[/tex] --- the demand
[tex]I =\$13000[/tex] --- per capita income
[tex]S = \$400[/tex] --- average price of software
[tex]P = \$3000[/tex] --- price of computer
Required
The price elasticity of demand
Substitute values for I and S in: [tex]Q = 500000 - 700P +200I - 500S[/tex]
[tex]Q = 500000 - 700P +200*13000 - 500*400[/tex]
Collect like terms
[tex]Q = 500000 +200*13000 - 500*400- 700P[/tex]
[tex]Q = 2900000- 700P[/tex]
The price elasticity (n) is then calculated using:
[tex]n =\frac{P}{Q} * \frac{dQ}{dP}[/tex]
[tex]Q = 2900000- 700P[/tex]
Differentiate
[tex]\frac{dQ}{dP} = -700[/tex]
Calculate Q when [tex]P = \$3000[/tex]
[tex]Q = 2900000- 700*3000[/tex]
[tex]Q = 800000[/tex]
So, we have:
[tex]n =\frac{3000}{800000} * -700[/tex]
[tex]n =-\frac{3000* 700}{800000}[/tex]
[tex]n =-\frac{2100000}{800000}[/tex]
[tex]n =-\frac{21}{8}[/tex]
[tex]n =-2.625[/tex]
The price elasticity of demand is going to be –2.625.
The equation has
Q = 500,000 – 700P +200I - 500S.
p = $3,000
I = $13,000
S = $400
We have to put in these values in the equation that we have here:
Q = 500,000 – 700*3000 +200*13000 - 500*400
= 800000
We have to find dQ/dP= 500,000+200*13000 - 500*400 – 700P
= 2900000-700p
= -700p
The price elasticity =
-700*3000/800000
= -2.625
The price elasticity = -2.625
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You have decided to buy a used car. The dealer has offered you two options: (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided.) Pay $620 per month for 20 months and an additional $12,000 at the end of 20 months. The dealer is charging an annual interest rate of 24%. Make a one-time payment of $16,864, due when you purchase the car. 1-a. Determine how much cash the dealer would charge in option (a). (Round your answer to 2 decimal places.) 1-b. In present value terms, which offer is clearly a better deal
Answer:
1. In option (a), the dealer would charge $18,213.54.
b. In present value terms, the one-time payment (option (b) is a better deal for the purchaser.
Explanation:
a) Data and Calculations:
Monthly payment for a used car = $620
Payment period = 20 months
Additional payment at the end of 20 months = $12,000
Annual interest rate = 24%
One-time payment for the car purchase = $16,864
From an online financial calculator, the present value of the payments is:
N (# of periods) 20
I/Y (Interest per year) 24
PMT (Periodic Payment) 620
FV (Future Value) 12000
Results
PV = $18,213.54
Sum of all periodic payments = $12,400.00
Total Interest = $6,186.46
The following activities occur at Greenwich Corporation. a company that manufactures a variety of products.a. Various individuals manage the parts inventories.b. A clerk in the factory issues purchase orders for a job.c. The personnel department trains new production workers.d. The factory’s general manager meets with other department heads such as marketing to coordinate plans.e. Direct labor workers assemble products.f. Engineers design new products.g. The materials storekeeper issues raw materials to be used in jobs.h. The maintenance department performs periodic preventive maintenance on general-use equipment.Required:Classify each of the activities above as either a unit-level, batch-level, Product-level, or organizationsustaining activity.
Answer:
Product level activities have to do with the individual products themselves and issues concerning them.
Batch level activities are related to uses that concern a group of products including their sales and raw material acquisition.
Unit level activities are those that concern the production volumes of units and include direct materials and direct labor.
Organization sustaining or Facility level entails issues that relate to the general facility used in production and is more of an administrative measure.
Batch Level Activities
b. A clerk in the factory issues purchase orders for a job.
g. The materials storekeeper issues raw materials to be used in jobs.
Product Level Activities
a. Various individuals manage the parts inventories.
f. Engineers design new products.
Unit Level Activities
e. Direct labor workers assemble products.
Organization sustaining Level
c. The personnel department trains new production workers.
d. The factory’s general manager meets with other department heads such as marketing to coordinate plans.
h. The maintenance department performs periodic preventive maintenance on general-use equipment.
6. Guillermo and Nora adopted a little boy in 2020 and incurred a total of $18,000 qualified adoption expenses. Their modified AGI is $220,000. What is the amount of adoption credit they can take
Answer:
Guillermo and Nora
The amount of adoption credit that they can take is limited to:
= $14,300 in 2020.
Explanation:
a) Data and Calculations:
Modified AGI of Guillermo and Nora = $220,000
Total amount of qualified adoption expenses incurred in 2020 = $18,000
Limit of adoption credit available to the couple in 2020 = $14,300
Lost adoption expenses = $3,700 ($18,000 - $14,300)
b) The couple will not be able to take adoption credit amounting to $3,700 because the amount they spent on adoption expenses exceeded the adoption credit limit for 2020.
The prepaid insurance account had a beginning balance of $7,560 and was debited for $810 for premiums paid during the year.
Required:
Journalize the adjusting entry required at the end of the year.
Answer: See explanation
Explanation:
Debit Insurance Expenses = $8370
Credit Prepaid insurance = $8370
(To record insurance expense for the current year)
Note that:
Opening prepaid Insurance = $7560
Add: Insurance premium = $810
Insurance expense = $8370
Unobserved effects versus idiosyncratic errors
Suppose you have two years' worth of panel data on wages and work experience of adults; however, the data set has no further information on the characteristics of the individuals in the data set. Specifically, you have cross-sectional wage and work experience data on individuals in 2006, and cross-sectional data on those same individuals in 2012. You plan to use the following fixed effects model to analyze the effects of work experience on wages:
log (wage it ) = βo + 80 yr10, + B1 experit + ai + uit
where
wage it = yearly wage of individual i at time t, in dollars
yrl0, =1 in the year 2010 (t = 2), and =0 otherwise (t = 1)
exper = years of work experience of individual i, at time t
ai = unobserved (time-invariant) effect
uit = idiosyncratic error
Two other factors that can influence wage, which you have not controlled for in your model, are height and industry of employment.
Use the following table to indicate which term in the fixed effects model captures the effect of height, which term captures the effect of industry of employment, and which term captures the effect of work experience.
ai uit β1
Work experience
Height
Industry of employment
Answer:
The terms that capture the effect of industry of employment and work experience are:
Industry of employment = uit
Work experience = β1
Height = ai
Explanation:
a) Data:
ai uit β1
Work experience
Height
Industry of employment
b) Explanation
The "idiosyncratic error" (uit) describes the unobserved factors that impact the dependent variable. For example, industry of employment, and this factor vary from one-time period to the next.
The unobserved (time-invariant) effect (ai) refers to the height of the industry of employment, which does not vary over time.
Finally, work experience is depicted by β1, which is a factor that changes with time.
TaskMaster Enterprises employs a standard cost system in which direct materials inventory is carried at standard cost. TaskMaster has established the following standards for the prime costs of one unit of product. Standard Standard Standard Quantity Price Cost Direct Materials 8 pounds $ 1.80 per pound $ 14.40 Direct Labor 0.25 hour $ 8.00 per hour 2.00 $ 16.40 During November, TaskMaster purchased 160,000 pounds of direct materials at a total cost of $304,000. The total factory wages for November were $42,000, 90% of which were for direct labor. TaskMaster manufactured 19,000 units of product during November using 142,500 pounds of direct materials and 5,000 direct labor hours. What is the direct labor rate variance for November
Answer:
The direct labor rate variance for November is $34,200
Explanation:
To find out the direct labor rate variance, we have to multiply the actual standard rate of direct labor into actual hours of direct labor used
Standard hourly rate of direct labor hour = $14.40
Actual direct labor hours = 5,000
Standard direct labor cost
= 5,000 × $14.40
= $72,000
Total factory wages are $42,000 in which direct labor is 90%
= $42,000 × 90%
= $37,800
Actual direct labor cost = $37,800
Therefore,
Direct labor rate variance = Standard direct labor cost - Actual direct labor cost
Direct labor rate variance
= $72,000 - $37,800
= $34,200
Labor power is a special commodity right or wrong?
Answer:
Right.
Explanation:
The labor market is as much a commodity as the materials are to be processed.
Labor power is a unique commodity in that it is a characteristic of living people who own it in their own bodies. They cannot permanently sell it to someone else because they own it within themselves; otherwise, they would be a slave, and a slave does not own himself.
Consider the following argument from analogy. According our rules for appraising analogical reasoning, if a subsequent consideration strengthens the argument, answer a. Answer b if a consideration weakens the argument. Answer c if a consideration does not affect the argument.
Bill has taken three history courses and found them very stimulating and valuable. So he signs up for another one, confidently expecting that it too will be worthwhile.
25. Suppose that his previous history courses were in ancient history, modern European history, and American history.
26. Suppose that his previous history courses had all been taught by the same professor that is scheduled to teach the present one.
27. Suppose that his previous history courses all had been taught by Professor Smith, and the present one is taught by professor Jones.
28. Suppose that Bill had found his three previous history courses to be the most exciting intellectual experiences of his life.
29. Suppose that his previous history courses had all met at 9:00am, and the present one is scheduled to meet at 9:00am also.
30. Suppose that, in addition to the three history courses previously taken, Bill also had taken and enjoyed courses in anthropology, economics, political science, and sociology.
Answer:
Bill has taken three history courses and found them very stimulating and valuable. So he signs up for another one, confidently expecting that it too will be worthwhile.
25. Suppose that his previous history courses were in ancient history, modern European history, and American history.
Answer A
26. Suppose that his previous history courses had all been taught by the same professor that is scheduled to teach the present one.
Answer A
27. Suppose that his previous history courses all had been taught by Professor Smith, and the present one is taught by professor Jones.
Answer B
28. Suppose that Bill had found his three previous history courses to be the most exciting intellectual experiences of his life.
Answer A
29. Suppose that his previous history courses had all met at 9:00am, and the present one is scheduled to meet at 9:00am also.
Answer C
30. Suppose that, in addition to the three history courses previously taken, Bill also had taken and enjoyed courses in anthropology, economics, political science, and sociology.
Answer B
Explanation:
