Answer: c. $47 per carpet
Explanation:
Total variable costs are:
= Cleaning supplies + Hourly wages + Transportation
= 5,140 + 11,000 + 3,600
= $19,740
The variable cost per carpet is:
= Total variable cost / Number of carpets dyed
= 19,740 / 420
= $47 per carpet
The journal entry for an installment note payment includes all except:__________.
a. a credit to Accounts Payable.
b. a credit to Cash.
c. a debit to Interest Expense.
d. a debit to Notes Payable.
Answer: a. a credit to Accounts Payable.
Explanation:
When paying off a note, cash will be used so cash will have to be credited to show that it is decreasing.
Interest expense will be debited by the interest accumulated on the loan because expenses are debited when they increase.
Notes Payable will be debited to show that the note has now been retired.
There is no credit for Accounts payable involved in this transaction.
In long-run equilibrium, all firms in the industry earn zero economic profit. Why is this true? All firms in perfectly competitive industries earn zero economic profit in the long run because A. barriers to entry and exit prevent firms from earning positive or negative economic profit. B. a positive profit would induce firms to produce more , increasing price and profit, and a negative profit would induce firms to produce less , decreasing price and profit. C. firms are price takers, maximizing profit by producing where price equals average cost . D. a positive profit would induce firms to enter, decreasing price and profit, and a negative profit would induce firms to exit, increasing price and profit. E. firms are price takers, maximizing profit by producing where price equals marginal cost.
Answer: D. a positive profit would induce firms to enter, decreasing price and profit, and a negative profit would induce firms to exit, increasing price and profit.
Explanation:
In the long run in a competitive market, companies will enter if they find that the market is making positive economic profits. This will increase the number of supplies in the market which would then lead a to a reduction in price and by extension a reduction in profit.
If the profit that firms begin to make after these new companies come into the market, falls below 0, then firms will leave the market so as not to make losses. This would reduce supply and lead to prices rising which would pull profits up as well till they are positive again then the first instance would repeat itself.
This goes on repeatedly and therefor keeps long run economic profit at 0.
Roger is conducting an educational event and has asked a couple or providers
Answer:
Roger will require different equipment to conduct his educational event successfully.
Explanation:
Roger will require kiosks, banners, pamphlets and some ushers for his event. There should be reception or help desk placed at entrance to guide the attendees. There should be banners placed for different educational institutions who will be part of the event.
Wayland Company has a standard of 5.0 hours of labor per unit, at $11.00 per hour. In producing 800 units, Wayland used 3,800 hours of labor at a total cost of $41,000. What is Wayland's labor price variance
Answer:
Direct labor rate variance= $798 favorable
Explanation:
To calculate the direct labor rate variance, we need to use the following formula:
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (11 - 10.79)*3,800
Direct labor rate variance= $798 favorable
Actual rate= 41,000 / 3,800= $10.79
Activity-based costing is preferable in a system:
a. when multiple products have similar product volumes and costs
b. with a large direct labor cost as a percentage of the total product cost
c. with multiple, diverse products
d. where management needs to support an increase in sales price
Answer:
c. with multiple, diverse products
Explanation:
Activity based costing is a method that is used to share overhead and indirect costs among various products and services offered by a company.
So products that are produced in larger volume will receive more cost allocation.
The cost driver rate is used in this allocation and is calculated by dividing total pool cost by the cost driver.
So cost is allocated based on units of goods produced.
Examples of indirect cost shared are salaries and utilities.
Activity based costing is best for multiple diverse products. So that cost can effectively be allocated based on the amount of activity attributed to a particular product.
apricot corporation has 11000 shares of 11%, $110 par noncumulative preferred stock outstanding and 26000 shares of no par common stock outstanding. At the end of the current year, the corporation declares a dividend of
Managerial accounting systems report both monetary and nonmonetary information. Examples of nonmonetary information include: _________ a) employee diversity. b) percentage of on-time deliveries. c) employee satisfaction data. d) amount of sales per customer
Answer:
b) percentage of on-time deliveries.
Explanation:
Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.
Managerial accounting systems is an accounting system that is used by an organization to report both monetary and nonmonetary information. An example of a nonmonetary information is the percentage of on-time deliveries of the goods and services produced and supplied to consumers.
Common stockholders' equity as of 1/1/2017 $7,031,250 Common stockholders' equity as of 12/31/2017 $8,593,750 Net sales for the year 2017 $3,906,250 Net income for the year 2017 $250,000 Common stock dividends paid during 2017 $10,000 Calculate the company's Payout Ratio.
Answer:
the payout ratio is 4%
Explanation:
The computation of the payout ratio is shown below:
The payout ratio is
= Dividend ÷ net income
= $10,000 ÷ $250,000
= 4%
We simply divided the dividend from the net income so that the payout ratio could come
Hence, the payout ratio is 4%
Answer:
it is 4%
Explanation:
10 percent decrease in consumer incomes leads to a 20 percent decrease in the quantity demanded of good D. Instructions: Round your answer to one decimal place. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The income elasticity of this good is: . This good can best be described as (Click to select) .
Answer:
Income elasticity = 2
Normal good
Explanation:
Below is the given values:
Percentage decrease in consumers income = 10%
Percentage decrease in quantity demanded = 20%
Use the below formula to find the income elasticity:
Income elasticity = % change in quantity demanded / % in income
Income elasticity = -20/-10
Income elasticity = 2
Since the elasticity is 2 that means good is normal good.
he company considers renovating its operations by purchasing a new machine that would reduce variable expenses by $7.20 per unit. However, fixed expenses would increase to a total of $544,320 each month. Using the new machine would not cause a change in monthly sales quantity or price per unit. What would the company's margin of safety in dollars be if it purchases and uses the new machine
Question Completion:
Morton Corporation
Income Statement for the most recent month
Sales revenue (42,000 units * $24 per unit) $1,008,000
Variable cost of goods sold 705,600
Contribution margin $302,400
Fixed expenses 241,920
Net operating income $60,480
Answer:
Morton Corporation
The company's margin of safety in dollars would be $100,800 if it purchases and uses the new machine.
Explanation:
a) Data and Calculations:
Morton Corporation
Income Statement for the most recent month
Sales revenue (42,000 units * $24 per unit) $1,008,000
Variable cost 705,600
Contribution margin $302,400
Fixed expenses 241,920
Net operating income $60,480
After the renovation of operations:
Variable cost of goods sold will reduce by $7.20 per unit
Variable cost per unit before renovation = $16.80 ($705,600/42,000)
New Variable cost per unit after renovation = $9.60 ($16.80 - $7.20)
New contribution margin per unit = $14.40 ($24 - $9.60)
Contribution margin ratio = 0.60 or 60%
New total fixed expenses = $544,320
Break-even point in sales dollars = Fixed expenses/Contribution margin ratio
= $544,320/0.60
= $907,200
Margin of safety = Sales revenue - Break-even Sales Dollars
= $100,800 ($1,008,000 - $907,200)
Assume the following macroeconomic variable ( in $ billion) for an economy: Y = national income = Aggregate Expenditures Aggregate Expenditures = Consumption + Investment + Government Spending + Net Export Assuming that the full employment level in $6,000 billion, determine the change in government spending needed to reach full employment. (Hint: calculate the current GDP, then calculate aggregate expenditures using national income of $6,000 and find the difference)
Answer:
440
Explanation:
Calculation to determine the change in government spending needed to reach full employment.
At Y=6000,
C=300+0.64Y
C=300+0.64*6000
C=300+3840
C=4140
Second step
Imports=0.08*Y=0.08*6000
Imports=480
Aggregate expenditure=4140+800+700+400-480
Aggregate expenditure=5560
Full employment G=6000-5560
Full employment G=440
New G=700+440
New G=1140
Y=300+0.64Y+800+1140+400-0.08Y
Y=2640+0.56Y
Y=2640/0.44
Y=6000
Therefore the change in government spending needed to reach full employment must Increase by 440.
Number Style Which of the following sentences apply correct number style? Check all that apply.
a. We prefer that our interns have completed Finance 201 and an advanced professional communication course. He hopes to have at least $2 million in his retirement account by the time he turns 40. 57% of his take-home salary goes straight into his retirement account. Choose the best option to correct the following sentence.
b. She has scheduled the meeting for March eleventh two thousand 8 at eight in the morning. She has scheduled the meeting for March 11, 2008, at eight in the morning. She has scheduled the meeting for March eleventh, 2008 at eight in the morning. She has scheduled the meeting for March 11, 2008, at 8 a.m.
c. Which of the following sentences express correct number style? Check all that apply. John wasn't sure how to break the news without angering the majority of the company's 421 employees. The meeting was scheduled for three o?clock on Friday, February fifteenth. The average salary increase for Division 45 employees was 2.8 percent last year.
d. Which of the following choices has the correct number style to use at the beginning of a sentence? 3/4 of the respondents Three-fourths of the respondents.
Answer:
1. We prefer that our interns have completed Finance 201 and an advanced professional communication course.
• He hopes to have at least $2 million in his retirement account by the time he turns 40
b • She has scheduled the meeting for March 11, 2008, at 8 a.m.
c. The average salary increase for Division 45 employees was 2.8 percent last year.
d. Three-fourths of the respondents
Explanation:
It should be noted that the numbers from one to ten should be written in word form, while those from 11 and above can be written in figures.
The numbers such as percentages that starts a sentence needs to be written in words. Therefore, 57% should be written in words
Therefore, the correct options are:
• We prefer that our interns have completed Finance 201 and an advanced professional communication course.
• He hopes to have at least $2 million in his retirement account by the time he turns 40.
Other correct options to the question include:
b. She has scheduled the meeting for March 11, 2008, at 8 a.m.
For information that has to do with meetings, the numbers should be written in numerical form.
c. The average salary increase for Division 45 employees was 2.8 percent last year.
d. Three-fourths of the respondents
The number should be written in words since it begins the sentence.
what job should i choose to be so rich
Answer:
The top career choices for making the most money are being an investment banker or physician. Engineer and pharmacist are good options as well.
Answer:
rather than focus on wealth, you should focus on the jobs that you would enjoy doing. Money mean nothing if you don't have time to use them.
Value a Constant Growth Stock Financial analysts forecast Best Buy Company (BBY) growth for the future to be 14.00 percent. Their recent dividend was $1.19. What is the value of their stock when the required rate of return is 15.43 percent
Answer:
$94.87
Explanation:
Value of stock = Dividend * (1 + Growth rate) / (Required rate - Growth rate)
Value of stock = $1.19 * (1 + 0.14) / (0.1543 - 0.14)
Value of stock = $1.19 * 1.14 / 0.0143
Value of stock = $1.3566 / 0.0143
Value of stock = 94.8671329
Value of stock = $94.87
In a fairly large portfolio, the ...................... risk associated with one stock typically has no impact on the portfolio total risk. In this case, it would be reasonable to expect that the effects of ..................... risk on various stocks would offset each other, thereby eliminating the risk to the investor arising from this source of risk.
Answer:
Unsystematic; unsystematic
Explanation:
In the case of the large portfolio, the non-systematic risk that could be attached would have no effect on the total risk of the portfolio
So it is to be expected that the impact should be of non-systematic risk on different kind of stock that could be offset each other in order to remove out the risk to the investor that occurs from the sources of the risk
XYZ Corporation manufactures two models of office chairs, a standard and a deluxe model. The overhead costs for setups and components pools are $60,000 and $58,900, respectively. The following activity has been compiled:
Number of Number of Number of
Setups Components Direct Labor Hours
Standard 11 6 295
Deluxe 29 13 205
Overhead costs $63,600 $102.600
Number of setups and number of components are identified as activity-cost drivers for overhead. Assuming an activity based costing system is used, what is the total amount of overhead costs assigned to the standard model?
A. $109,200
B. $57,000
C. $83,000
D. $83,100
Answer:
$49,890
Explanation:
The computation of the total amount of overhead costs assigned to the standard model is given below
The cost driver rate is
For setup
= $63,600 ÷ (11 + 29)
= 1,590
For component
= $102,600 ÷ (6 + 13)
= 5,400
Now the total amount of overhead for the standard model is
= 11 × 1,590 + 6 × 5,400
= $17,490 + $32,400
= $49,890
This is the answer but the same is not provided in the given options
Sal is very clear in defining for his subordinates the incentives available to them for different levels of performance. He makes sure they understand the path toward receiving incentives and follows through on rewarding them when they meet those goals. Sal exhibits the _______ theory of leadership.
Answer: d. path–goal
Explanation:
The Path-goal theory of leadership espouses that leaders should be dynamic and use whichever leadership style would be best suited to the abilities of their subordinates and the work environment that they are in.
It is then divided into four styles with the relevant style here being the "directive path-goal clarifying leader behavior". Under this style, the manager specifies exactly what it is that they want from the employees and then rewards them when they meet the required objectives.
The theory of leadership that Sal was exhibiting when he was defining some incentive that can make them perform well and explain the path to follow so as to receive the incentive when they achieve their goal is The path-goal theory.
The path-goal theory can be regarded as one that focus on leader's behavior which serves as contingent to the satisfaction that influence the motivation and performance of their employees. Good example us where Sal promise her employee about incentive once they achieve their goals.Therefore, The path-goal theory is correct.
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Nungesser Corporation has an EPS of $1.96, a cash flow per share of $3.15, and a price/cash flow ratio of 7.76×. What is its P/E ratio?
Answer:
12.47
Explanation:
Given :
Earning per share, EPS = $1.96
Cashflow per share = $3.15
Price / Cash flow ratio = 7.76
The P/E ratio = share price / Earning per share
The Share price is given by :
Cashflow per share * price to cash flow ratio
Share price = $3.15 * 7.76 = $24.444
Now ;
P/E ratio = Share price / Earning per share = $24.444 / $1.96
P/E ratio = 12.4714
P/E ratio = 12.47
Vent, Inc. reported net income of $770,000 for 20X1. Vent sold 15,000 shares of treasury stock acquired in a previous year on July 1 and 15,000 new shares on November 1. At year-end, 180,000 shares were outstanding. Vent had 20,000 shares of $100 par value 7% preferred stock outstanding all year. Vent paid dividends to the preferred shareholders. 1. The weighted average number of common shares used to compute earnings per share for 20X1 is:_____.2. Calculate the basic earnings per share for 2015.3. If each share of preferred stock is convertible into 2 shares of common stock, what is the diluted earnings per share for 2015?
Answer:
1. Weighted average number of outstanding shares = 150,000*12/12 + 15,000*6/12 + 15,000*2/12
Weighted average number of outstanding shares = 150,000 + 7,500 + 2,500
Weighted average number of outstanding shares = 160,000 shares
2. Net income = $770,000
Preferred dividend = 20,000 shares*$100*7%
Preferred dividend = $140,000
Income attributable to common stockholders = Net income - Preferred dividend
Income attributable to common stockholders = $770,000 - $140,000
Income attributable to common stockholders = $630,000
Basic Earnings per share = Income attributable to common stockholders / Weighted average number of outstanding shares
Basic Earnings per share = $630,000/160,000
Basic Earnings per share = $3.94
3. Diluted EPS = Net income / [Weighted average number of common shares outstanding during the period + All dilutive potential common stock]
Diluted EPS = $770,000 / (160,000 + 20,000*2)
Diluted EPS = $770,000 / 200,000 shares
Diluted EPS = $3.85 per share
A firm's current profits are $1,300,000. These profits are expected to grow indefinitely at a constant annual rate of 3 percent. If the firm's opportunity cost of funds is 6 percent, determine the value of the firm:
a. The instant before it pays out current profits as dividends.
b. The instant after it pays out current profits as dividends
Answer:
a. Value of the firm = $45.93 million
b. Value of firm = $44.63 million
Explanation:
a. Below is the calculation for the value of firm.
Value of firm = Profit [( 1 + i) / (i - g)]
Profit = 1300000
i = 6%
g = 3%
Value of the firm = 1300000 [(1 + 0.06) / (0.06 - 0.03)]
Value of the firm = $45.93 million
B. Value of the firm after it pays profit as dividend.
Value of firm = Profit [( 1 + g) / (i - g)]
Value of firm = 1300000 [(1 + 0.03) / (0.06 -0.03]
Value of firm = $44.63 million
Janet and Megan are debating the use of student discounts by local stores near school. Janet argues, "When stores offer discounts to students with valid identification, it is price discrimination, because they are attempting to separate the market into two groups—each with different demands for that particular good." Megan responds with, "This is not a form of price discrimination, because there is no age restriction for students. Economists generally agree with :
a. Dina
b. Antonio
Answer:
Antonio
Explanation:
In simple words, Antonio has a lot of support among economists. Price discrimination occurs when a vendor is able to split clients into groupings or segregate a marketplace into two categories so that they may charge varying charges to that same two groups. It has hardly anything to deal with the customers' age.
Thus, Antonio is correct with his views.
Burt is strategizing and planning an IMC marketing campaign for the company where he is employed as marketing specialist. If he is to execute an effective IMC campaign, which aspects should he consider
Answer:
Incorporate the manufacturing process steps of the service into your planning and design process. A further explanation is provided below.
Explanation:
Burt would have had to take into account the possible throughout the development process of the marketing campaign when trying to execute an integrated Communication IMC program.An essential component of conducting a successful IMC campaign requires determining the phase including its project lifecycle.Thus the above is the right answer.
The latest video game comes out and costs $60. You put it on your credit card and can’t afford to pay the whole bill all at once, so you make the minimum payment each month. How much is that minimum payment?
The minimum payment each month is 15%. The minimum payment is the least amount of money you must pay each month to maintain the status of your account.
What is minimum payment?The total balance on your account for that billing cycle is represented by the statement balance. The sum of your most recent bill plus any recent charges constitutes your current balance.
Although experts advise paying the statement balance in full each month, there are occasions when it might not be possible. In those circumstances, it's crucial to pay at least the required minimum in order to keep your account current and avoid late penalties and penalty APRs.
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When you were born, your dear old Aunt Minnie promised to deposit $1,000 into a savings account, bearing a 5% effective annual rate, on each birthday, beginning with your first. You have just turned 22 and want the dough. However, it turns out that dear old (forgetful) aunt Minnie made no deposits on your fifth and eleventh birthdays. How much is in the account right now?
Answer: $34,502.85
Explanation:
The constant deposits are considered annuities.
The value at the end of 22 years is the future value of the annuity.
Future value of annuity = Annuity * ( (1 + rate)^number of years - 1 ) / rate
= 1,000 * ( ( 1 + 5%) ²² - 1) / 5%
= $38,505.21
Then subtract the future values of the deposits that your grandmother missed.
For the fifth birthday, the future value term will be 22 - 5 = 17 years
For the eleventh, the future value term will be 22 - 11 = 11 years
The amount in the account is:
= 38,505.21 - (1,000 * 1.05¹⁷) + (1,000 * 1.05¹¹)
= $34,502.85
The cost of a parcel of land is 50 cents per square foot. Candace wants to purchase one acre. How much will this cost?
1 acre = 43,560 square feet.
Multiply square feet by cost per square feet
43,560 x 0.50 = $21,780
Total cost: $21,780
The Pension Trust Fund maintained by the city of Linden had the following transactions during 2019. Record each transaction in the Pension Trust Fund. Ignore any other funds that may be involved in a transaction.
a. Contributions of $600,000 were received from General Fund employees, and the General Fund contributed its share of $100,000.
b. The fund paid $500 for investment management fees.
c. Investments held by the fund increased in value by $3,500.
d. Depreciation on fund capital assets totaled $800.
e. Retirement benefits of $7,700 were paid to retirees.
f. Interest of $2,500 and dividends of $1,400 were received from investments
Answer:
Date Account Title Debit Credit
XX - 2019 Cash $700,000
Additional pension Contribution - $600,000
Employees
Additional pension Contribution - $600,000
Employer
Date Account Title Debit Credit
XX - 2019 Investment management fees $500
Cash $500
Date Account Title Debit Credit
XX - 2019 Investments $3,500
Net appreciation in investment fair value $3,500
Date Account Title Debit Credit
XX - 2019 Depreciation of fund capital assets $800
Accumulated depreciation of fund $800
capital assets
Date Account Title Debit Credit
XX - 2019 Retirement benefits $7,700
Cash $7,700
Date Account Title Debit Credit
XX - 2019 Cash $3,900
Interest on investments $2,500
Dividends $1,400
When Frank demonstrates his actual pizza tossing technique during the webisodes, he is attempting to connect with customers through which part of the 4E framework for digital marketing?
Answer: experience
Explanation:
Frank is attempting to connect with customers through the 4E framework for digital marketing known as experience.
The 4E Framework describes different training methods and the outcome that are expected outcomes for each of the training.
The strategies involved are exposure, expertise, experience, and embedding. Experience strategies enhances the readiness of the user to use a new information or an innovation. The goal of the experience strategy is the increased knowledge and positive attitudes.
Since demonstrates his actual pizza tossing technique during the webisodes, in this case he has the experience.
Clannad currently produces and sells 4,000 units per year, and has a capacity of 5,000 units. Enya, Inc. has offered a one-year contract to supply parts at a cost of $30.00/unit. If Clannad accepts, it will reduce fixed costs by 50% and will be able to rent unused space to another company for $18,000 per year. What is the impact on Clannad's profits if it accepts the offer.
Answer: Increase of $20,000
Explanation:
The cost of making a unit is:
= Direct material + Direct labor + Variable overhead + Fixed overhead
= 10 + 14 + 5 + 3
= $32
For 4,000 units that would be:
= 4,000 * 32
= $128,000
Cost of buying 4,000 units :
= Cost of buying + Fixed cost
= (4,000 * 30) + (3 / 2 * 4,000)
= $126,000
This cost is further reduced by the renting of the unused space:
= 126,000 - 18,000
= $108,000
Impact on profit:
= Cost of making - Cost of buying
= 128,000 - 108,000
= $20,000
Increase of $20,000
During 2021, Raines Umbrella Corporation had sales of $772,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $465,000, $104,500, and $150,000, respectively. In addition, the company had an interest expense of $74,400 and a tax rate of 25 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible). Suppose Raines Umbrella Corp. paid out $102,000 in cash dividends. Is this possible? If spending on net fixed assets and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt?
Answer:
Paying out $102,000 in cash dividends is possible
Net new long-term debt $26,100
Explanation:
Calculation to determine the net new long-term debt
Sales $772,000
Less Cost of goods sold $465,000
Gross profit $307,000
($772,000-$465,000)
Administrative and selling expenses $104,500
Depreciation expenses $150,000
Earning before interest tax $52,500
($307,000-$104,500-$150,000)
Interest expense $74,400
Profit or Loss before tax ($21,900)
($52,500-$74,400)
Less Tax 25% $0
Add Depreciation expense $150,000
Net Cash flow $128,100
(-$21,900+$150,000)
Dividend $102,000
Net new long-term debt $26,100
($128,100-$102,000)
Therefore Based on the above calculation Paying out $102,000 in CASH DIVIDENDS is possible even though the Net income is Negative, its operating cash flow is $128,100 positive which means that the company has enough cash balance to pay dividends of $102,000. The Net new long-term debt is $26,100
Lisa is a homeowner looking to sell her house. She opts not to sign a listing agreement with a broker in order to save on the commission. However, she is still being assisted by her good friend Martha, who is a licensed FL broker. How would you characterize Martha's relationship with Lisa
Answer:
There is a no-brokerage relationship between Martha and Lisa since a listing agreement has not been signed and Martha is only offering assistance.
Explanation:
Brokerage relationship
This is commonly known as that tyoe of relationship that is usually contractual in nature and it exists between a client and a real estate licensee, the services of the broker has been engaged by the client for the purpose of getting a seller, buyer, tenant and willing to sell etc on client's behalf.
Authorized Brokerage Relationships
1. Single Agency
2. Transaction Broker
3. No Brokerage
4. Designated Sales Associate
No brokerage relationship
This is regarded as a form of a procedure or an arrangement where the broker does not represent either the buyer or the seller but the broker do works to help in the transaction process.
The duties of No brokerage relationship
The law states that a real estate broker working in a no brokerage relationship should always deal honest and fairly, and also disclose (open up) all known facts that materially affect the value of residential real property that are not readily seen or known to the buyer.
