Answer:
Major challenges are wars and conflicts, reduced investments and reduced trade is hindering the economic development.
Explanation:
The BRICS economy is in the major economy in the world. It has an economy of manufacturing, services, and raw materials. The contribution of the BRCS economy is bout 30% of the world economy as of 2014.Wilturner Company incurs $80,000 of labor related directly to the product in the Assembly Department, and $29,000 of labor related to the Assembly Department as a whole, and $16,000 of labor for services that help production in both the Assembly and Finishing departments. The amount of direct labor and factory overhead respectively are:________
Answer:
Direct labor = $80,000Factory Overhead = $29,000Explanation:
Direct labor is the cost of labor that was involved in the actual production process.
Factory overhead is the labor that was involved in the production but not directly involved.
Direct labor here is therefore the $80,000 that was directly related to the product.
Factory overhead is the $29,000 that was related to the Assembly department as a whole.
A flexible budget may be prepared: Select one: a. Before the operating period only. b. After the operating period only. c. During the operating period only. d. At any time in the planning period. e. Only when the company encounters excessive costs.
Answer:
The correct answer is the option D: At any time in the planning period.
Explanation:
To begin with, in the field of accounting and bussines management the concept known as "flexible budget" refers specifically to the type of budget that a company uses whose primary characteristic is that it is adjustable to the situation and therefore that it goes changing all the time according with the changes that happen in the levels of volumen and or activities, including expenses and revenues as well. So that is why that a flexible budget may be prepared at any time in the planning period for the company because it adjusts to the context.
Walbin Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 15,500 units, 100% complete with respect to materials cost and 20% complete with respect to conversion costs. The total cost in the beginning work in process inventory was $25,200. A total of 53,000 units were transferred out of the department during the month. The costs per equivalent unit were computed to be $1.6 for materials and $3.3 for conversion costs. The total cost of the units completed and transferred out of the department was:
a. $259,700
b. $254,180
c. $189,740
d. $225,380
Answer:
a. $259,700
Explanation:
The computation of the total cost of the units completed and transferred out of the department is given below:
= 53,000 units × $1.6 + 53,000 un$its × $3.3
= $84,800 + $174,900
= $259,700
Hence, the total cost of the units completed and transferred out of the department is $259,700
If an economy has aggregate price levels that are increasing, but the wage rate stays the same because of downward wage stickiness, what would be the economic consequences
Answer:
Business would fire some employees as labor becomes too expensive and the quantity of real GDP supplied would decrease.
Explanation:
According to the sticky wage [tex]\text{theory}[/tex], when the stickiness enters a market, there is a change in [tex]\text{one direction}[/tex] which will be favored over a change in the other direction.
The [tex]\text{aggregate price level}[/tex] is the measure of overall level of the prices in an economy.
When the [tex]\text{aggregate price level}[/tex] increases, it results in inflation. In an economy, when the aggregate price level increases, and the wage rate remains the same due to the downward wage stickiness, it results in an economy which would fire some of the employees as the labor becomes very expensive and the quantity of the real GDP supplied would also decrease.
Front Company had net income of $82,500 based on variable costing. Beginning and ending inventories were 1,800 units and 3,200 units, respectively. Assume the fixed overhead per unit was $8.40 for both the beginning and ending inventory. What is net income under absorption costing
Answer:
$94,260.00
Explanation:
There is no doubt that the difference between net income under absorption costing and variable costing method lies in the treatment of fixed cost, under the former, each product is charged with fixed cost while total fixed cost is charged as a period cost under the latter.
In essence, the fixed cost on ending inventory would have been expensed and deducted in arriving at net income under variable cost, in other words, we simply add to net income under variable costing the fixed cost attributable to an increase in ending inventory
income=$82,500+(3200-1800)*$8.40
net income=$94,260.00
The master budget process usually begins with the (CMA adapted) Group of answer choices production budget. operating budget. financial budget. sales budget.
Answer: sales budget
Explanation:
The sales budget is regarded as the master budget process starting point. The sales budget is essential as it depicts the planned sales units as well as the expected dollars that would be gotten from the sales.
The main reason why the sales budget is regarded as the beginning point in the budgeting process is due to the fact that the plans in a organization are usually linked to sales.
Assume Plato merchandising business, which was established to purchase and sale of various products to customer. This company is a vat registered company and declares tax to the government. During the current month the business has purchased supplies for br.75, 250 Vat inclusive and sold various products for br.125, 250 before vat to customers and the business has two permanent employers to provide service to customers.
No Name of employers Basic salary Taxable allowance
1 Bulcha Deguna 5000 600
2 Solomon Adugna 6400 400
- Task 1.1 calculate the amount of direct tax for the month
- Task 1.2 determine the amount of indirect tax liability for the month
Task 1.3 list types of direct and indirect taxes
A company purchased $4,000 worth of merchandise. Transportation costs for the buyer were an additional $350. The company returned $275 worth of merchandise and then paid the invoice within the 2% cash discount period. The total cost of this merchandise is:
Answer:
Total cost of purchase= $3,995
Explanation:
To calculate the total cost of merchandise purchased, we need to use the following structure:
Invoice cost of merchandise purchase
Less:
Purchase discount
Returns and allowances
Add:
Transportation costs
In this case:
Invoice cost of merchandise purchase= 4,000
Purchase discount= (4,000*0.02)= (80)
Returns and allowances= (275)
Transportation costs= 350
Total cost of purchase= $3,995
A building is acquired on January 1, at a cost of $830,000 with an estimated useful life of eight years and salvage value of $75,000. Compute depreciation expense for the first three years using the double-declining-balance method.
Answer:
ill try but just know im dum
The four steps necessary to complete a cost of production report in a process cost system are: 1. Allocate costs to transferred and partially completed units. 2. Determine the units to be assigned costs. 3. Determine the cost per equivalent unit. 4. Calculate equivalent units of production. The correct ordering of the steps is a.2, 4, 3, 1 b.2, 3, 4, 1 c.4, 2, 3, 1 d.2, 3, 1, 4
Answer:
a.2, 4, 3, 1
Explanation:
Based on the information given The CORRECT ORDERING of the steps is:
Step 1 is to DETERMINE THE UNITS TO BE ASSIGNED COSTS (2)
Step 2 is to CALCULATE EQUIVALENT UNITS OF PRODUCTION (4)
Step 3 is to DETERMINE THE COST PER EQUIVALENT UNIT (3)
Step 4 is to ALLOCATE COSTS TO TRANSFERRED AND PARTIALLY COMPLETED UNITS (1)
Therefore The CORRECT ORDERING of the steps is:2, 4, 3, 1
What information must be disclosed to buyers in a real estate transaction?
Suppose the lead time is 3 operating days, and that the superstore wishes to maintain instock probability of 90%. The demand in each day is normal distributed with standard deviation 10, and the demands cross 3 days are independent. What is the re-order point? The z-score for 0.9 is 1.28. (
Answer:
the re-order point is 97.17
Explanation:
The computation of the re-order point is given below:
Re-order point is
= (Daily demand × Lead time) + (Z × Standard deviation × Sqrt(Lead time)
= (25 × 3) + (1.28 × 10 × Sqrt(3))
= 97.17
hence, the re-order point is 97.17
The same is to be considered and relevant too
Two identical firms compete as a Cournot duopoly. The inverse market demand they face is P = 128 - 4Q. The total cost function for each firm is TC(Q) = 8Q. The price charged in this market will be
Answer: 48
Explanation:
Since TC(Q) = 8Q, the marginal cost(MC) will be = dC/dQ = 8
P = 128 - 4Q.
P = 128 - 4Q1 - 4Q2
For firm 1, the Total revenue will be:
= 128Q1 - 4Q1²- 4Q1Q2
MR1 = 128 - 8Q1 - 4Q2
Then, we'll set MR1 = MC1,
128 - 8Q1 - 4Q2 = 8
Collect like terms
8Q1 + 4Q2 = 120 .........(1)
For firm 2,
TR2 = 128Q2 - 4Q1Q2 - 4Q2²
MR2 = 128 - 4Q1 - 8Q2
Then we'll set MR2 = MC2,
128 - 4Q1 - 8Q2 = 8
4Q1 + 8Q2 = 120..........(2)
Thenz we'll multiply equation (2) by 2 and this will be:
8Q1 + 16Q2 = 240 ........(3)
8Q1 + 4Q2 = 120.........(1)
Equation (3) - equation (1) will give:
12Q2 = 120
Q2 = 120/12
Q2 = 10
Since the cost function for both firms is identical, then Q1 = 10 as well.
Q = Q1 + Q2
Q = 10 + 10
Q = 20
P = 128 - 4Q
P = 128 - (4 x 20)
P = 128 - 80
P = 48
The price charged in the market is 48.
The risk-free rate of return is 5%, the required rate of return on the market is 15%, and High-Flyer stock has a beta coefficient of 1.4. If the dividend per share expected during the coming year, D1, is $3.92 and = 5%, at what price should a share sell?
Answer:
$28
Explanation:
Calculation to determine at what price should a share sell
First step is calculate the Required return using this formula
Required return=Risk free rate+Beta*(market rate-risk free rate)
Let plug in the formula
Required return=5+1.4*(15-5)
Required return=5+1.4*(10)
Required return=5+14
Required return=19%
Now let determine the Current price using this formula
Current price=D1/(Required return-Growth rate)
Let plug in the formula
Current price=3.92/(0.19-0.05)
Current price=3.92/0.14
Current price=$28
Therefore the price that a share sell is $28
Gantner Company had the following department information about physical units and percentage of completion: Ch21_Q64 If materials are added at the beginning of the production process, what is the total number of equivalent units for materials during May
Answer:
200,000 units
Explanation:
The computation of the total no of equivalent units for material during may month is given below:
Units added during May is
= 150,000 + 50,000
= 200,000 units.
Hence, the total no of equivalent units for material during may month is 200,000 units
The same should be considered and relevant
Taylor's nominal income is $50,000 per year in Acity where the cost-of-living index is 200. Taylor is considering accepting a similar job and relocating to Becity where the cost-of- living index is 210. For Taylor's income to have the same purchasing power in Becity as $50,000 has in Acity, then Taylor's nominal income per year in Becity must equal:
Answer: $52,500
Explanation:
Taylor's real income in Acity is:
= Nominal income / Cost of living index
= 50,000 / 200
= $250
Taylor needs to be paid a nominal amount that when divided by the cost of living index in Bcity, Taylor's real income would be $250.
Real income = Nominal income / Cost of living index
250 = Income / 210
Income = 210 * 250
= $52,500
What is a disadvantage of the payback method?
a.
It is difficult to calculate
b. It ignores cash inflows earned after the payback period and time-value of money
c.
It ignores cash inflows earned before the payback period.
d. It can be used to cheaply separate desirable projects from less desirable ones.
Clear my choice
The statement " It eliminates the inflows of cash earned following the payback period and time value of money" is the disadvantage of the payback method
The payback period is the period thats tells the time period in which the initial investment that was made should be recovered.
It is to be measured in years normally.
For finding the disadvantage, we need to find out the following information related payback period
It is easy to calculateThe cash flows earned after the payback period should not be used There is no requirement to determine the present value factor for measuring the payback period. Also, it does not use for distinct cheap projects from lower onesSo this is the reason this method ignored the times value of money
Therefore, we can conclude that, the correct option is b.
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Theo sells a stock short with a current price of 25,000 and buys it back forXat the end of 1 year. Governmental regulations require the short seller todeposit margin of 40% at the time of the short sale. No dividends incurred.The prevailing in
Answer:
$23,300
Explanation:
Missing word "The prevailing interest rate is an 8% annual rate, and Theo earns a 25% yield on the transaction. Calculate X."
Stock short sell amount = $25,000
Margin required = 40%
Margin = $25,000 * 40%
Margin = $10,000
Interest = 8%
Interest earned (on margin) = $10,000 * 8%
Interest earned (on margin) = $800
Yield on transaction = 25%
Yield = [(Stock short sell amount - Buyback amount + Interest on margin) / Margin required.] While assuming buyback amount to be X)
0.25 = ($25,000 - X + $800) / $10,000
$2,500 = $25000 - X + $800
X = $25,000 + $800 - $2,500
X = $23,300
Cute Camel Woodcraft Company is considering a one-year project that requires an initial investment of $500,000; however, in raising this capital, Cute Camel will incur an additional flotation cost of 6%. At the end of the year, the project is expected to produce a cash inflow of $700,000. The rate of return that Cute Camel expects to earn on the project after its flotation costs are taken into account is
Answer:
The correct answer is "32.076%".
Explanation:
Given:
Initial investment,
= $500,000
Cash inflows,
= $500,000
The floatation cost will be:
= [tex]500,000\times 6 \ percent[/tex]
= [tex]30,000[/tex] ($)
The total cost will be:
= [tex]Initial \ investment+Floatation \ cost[/tex]
= [tex]500000+30000[/tex]
= [tex]530000[/tex]
hence,
The rate of return will be:
= [tex]\frac{Inflows}{Cost} -1[/tex]
= [tex]\frac{700000}{530000} -1[/tex]
= [tex]\frac{700000-530000}{530000}[/tex]
= [tex]0.32076[/tex]
= [tex]32.076[/tex] (%)
When liabilities increase, this means that the firm has borrowed money or received contributions from shareholders. Therefore, increases in liabilities represent increases in cash. Group of answer choices True False
Answer:
The answer is true
Explanation:
Increasing Liabilities is increasing cash inflow. For example, if a firm borrows money from a bank, it increases its liabilities and also increases its cash account because the bank will credit the firm with the borrowed form.
Also, if shareholders contribution increase by way of funding the company, the cash is being injected into the firm, thereby increasing the cash reserves.
Therefore, the answer to the question is true.
Larry Bar opened a frame shop and completed these transactions: Larry started the shop by investing $40,700 cash and equipment valued at $18,700. Purchased $140 of office supplies on credit. Paid $1,900 cash for the receptionist's salary. Sold a custom frame service and collected $5,200 cash on the sale. Completed framing services and billed the client $270. What was the balance of the cash account after these transactions were posted
Answer:
$44,000
Explanation:
Computation of Cash account balance
Particulars Amount
Initial investment of cash $40,700
Add: Cash collected from sales $5,200
Less: Salaries paid $1,900
Balance of cash account $44,000
Kirkland sells season tickets for six events at a price of $48. For the 2013 season, 2,700 season tickets were sold.
Required:
a. Use the horizontal model to show the effect of the sale of the season tickets. (Enter decreases to account balances with a minus sign.)
b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.
c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?
Answer:
a. Assets = Liabilities + Stockholders' Equity = $129,600
b. Debit Unearned ticket revenue for $129,600, and Credit Total revenue for $129,600.
c. It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.
Explanation:
a. Use the horizontal model to show the effect of the sale of the season tickets. (Enter decreases to account balances with a minus sign.)
Note: See the attached excel file for the horizontal model showing the effect of the sale of the season tickets.
In the attached excel file, the following calculation is done:
Cash = Unearned ticket revenue = Price per season ticket * Number of season tickets sold = $48 * 2,700 = $129,600
Since Stockholders' Equity is equal to zero in the attached excel file, we have:
Assets = Liabilities + Stockholders' Equity = $129,600
b. Use the horizontal model (or write the journal entry) to show the effect of presenting an event.
The journal entry will look as follows:
General Journal Debit ($) Credit ($)
Unearned ticket revenue 129,600
Total revenue 129,600
(To record the effect of presenting an event.)
c. Where on the balance sheet would the account balance representing funds received for performances not yet presented be classified?
It would be classified as an Unearned ticket revenue under the Current Liabilities on the balance sheet.
Quantitative easing is the Question 8 options: gradual release of money into the money supply through open market operations. targeted use of open market operations in which a central bank targets certain markets. strategy of increasing the money supply by buying U.S. Treasury securities on the open market. slow injection of money into the economy by the Federal Reserve.
Answer: targeted use of open market operations in which a central bank targets certain markets
Explanation:
Quantitative easing is referred to as the targeted use of the open market operations whereby a central bank targets certain markets.
Quantitative easing (QE) is a form of monetary policy whereby the central bank buys securities from the open market so as to enable a scenario where there'll be a rise in the money supply and also encourage investment and lending in the economy.
Managerial accounting systems report both monetary and nonmonetary information. Examples of nonmonetary information include: Multiple select question. amount of sales per customer percentage of on-time deliveries. employee satisfaction data. employee diversity.
Answer: employee satisfaction data
Explanation:
Managerial accounting helps in the provision of vital information to internal managers. Managerial accounting is useful for making planning and control decisions.
Examples of nonmonetary information include the employee satisfaction data, quality of purchase decisions etc.
QS 6-6 Petty cash accounting LO P2 1. Brooks Agency set up a petty cash fund for $150. At the end of the current period, the fund contained $28 and had the following receipts: entertainment, $70; postage, $30; and printing, $22. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
Answer and Explanation:
The journal entries are as follows:
1. Petty cash A/c Dr $150
To Cash A/c $150
(Being the establishment of petty cash is recorded)
2.
Entertainment expenses A/c Dr $70
Postage expense A/c Dr $30
Printing A/c Dr $22
To Petty cash A/c $122
(Being the reimbursement of petty cash fund is recorded)
The purpose of the Sarbanes-Oxley Act was to ______. Multiple choice question. provide greater scrutiny in accounting and reporting practices establish procedures for becoming a CPA eliminate accounting firms from having to hire accountants that are certified define generally accepted accounting principles
Answer: provide greater scrutiny in accounting and reporting practices
Explanation:
The Sarbanes-Oxley Act of 2002 is simply a Federal law which was out in place in order to audit and regulate the finances of public companies.
The Act is important as it helps protect employees, shareholders, and the public from fraudulent practices and accounting errors.
The Chandler Group wants to set up a private cemetery business. According to the CFO, Barry M. Deep, business is "looking up". As a result, the cemetery project will provide a net cash inflow of $57,000 for the firm during the first year, and the cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $759,000. The firm requires a 14 percent return on such undertakings. The company is somewhat unsure about the assumption of a 7 percent growth rate in its cash flows. At what constant rate of growth would the company just break even?
Answer: 6.49%
Explanation:
The constant rate of growth where the company would break even will be calculated thus:
Initial investment = Net cash inflow / (14% - g)
759000 = 57,000/(0.14 - g)
where g = growth rate
759000 = 57,000/(0.14 - g)
Cross multiply
759000(0.14 - g) = 57000
106260 - 759000g = 57000
759000g = 106260 - 57000
759000g = 49260
g = 49260/759000.
g = 0.0649
g = 6.49%
The growth rate that would lead the business to breakeven is 6.49%.
At breakeven, the growth rate would lead to the cash inflows from the project being just enough to pay back the initial investment put into the catering business.
This growth rate is calculated by the formula:
Growth rate = ( (Investment * return rate) * - First cash inflow) / Investment
= ( (759,000 * 14%) - 57,000) / 759,000
= 6.49%
The growth rate that would lead the business to breakeven is therefore 6.49%.
Find out more at https://brainly.com/question/13186160.
In preparing a bank reconciliation, the amount of checks outstanding would be:__________
A. added to the cash balance according to the bank statement.
B. deducted from the cash balance according to the bank statement.
C. added to the cash balance according to the company’s records.
D. deducted from the cash balance according to the company’s records.
Debbie is age 67 and unmarried. Her only sources of income are $200,000 in taxable interest and $20,000 of Social Security benefits. Debbie's adjusted gross income for the year is: a.$203,000. b.$200,000. c.$220,000. d.$217,000.
Answer: d.$217,000.
Explanation:
Current tax laws require that 85% of Social Security Benefits be included as AGI for the year.
Debbie's Adjusted Gross Income (AGI) for the year is therefore:
= Taxable interest income + 85% of Social Security
= 200,000 + 20,000 * 85%
= 200,000 + 17,000
= $217,000
n Office Manager uses a Periodic Review Inventory System: they check the inventory in their Office Supply Closet once every 10 days, placing an order with their supplier depending on the inventory level of the office supplies. The manager has set a restocking level of 300 post it notes for their closet. This week, the manager has counted 140 post it notes in the closet. How many post it notes will the manager order from their supplier? In other words, what is the Order Quantity?
Answer: 160
Explanation:
The number of post it notes that the manager will order from their supplier will be the difference between the restocking level and the inventory at the time of review. This will be:
= Restocking level - Inventory at the time of review
= 300 - 140
= 160
Therefore, the order quantity is 160.
