Answer:
the economy will adjust to full employment of resources.
Explanation:
Of course, that was one of the primary views of classical economists such as J.B. Say and Alfred Marshal.
They held that it was possible to do what many modern economists would call the impossible: full employment, One where the economy uses its resources to the full.
Walker Manufacturing Company reported the following materials data for the month ending June 30:
Materials purchased $776,400
Materials inventory, June 1 219,000
Materials inventory, June 30 174,800
Determine the cost of direct materials used in production by Walker during the month ended June 30.
Answer:
the cost of direct material used is $820,600
Explanation:
The computation of the cost of direct material used is shown below:
= Opening inventory + material purchased - ending inventory
= $219,000 + $776,400 - $174,800
= $820,600
Hence, the cost of direct material used is $820,600
It could come by applying the above formula
QUESTION 9 of 10: You bid $111 per room per night for 40 guests for one night. The meeting planner says you've got the business If you
can come down 10% on the bid. What new total bld will win the business?
Answer:
$3,996.00
Explanation:
The current bid represents 100%. the total for this bid is below
=$111 x 40 rooms
=$4,440.00
The new bid should be 10% less than the original bid. in other words, the new bid is 90% of the original bid
=90% of $4,440.00
=90/100 x $4,440.00
=0.9 x $4,440
=$3,996.00
Listed below are three items. Required: Classify each of the items as Revenue, Expense, Other Changes to Stockholders' Equity (other than revenue or expense), or None of These: Revenue Expense Other Changes to Stockholders' Equity None of These Deferred Revenue Supplies Expense Issuance of Stock
Answer:
Classification of items as Revenue, Expense, Other Changes to Stockholders' Equity (other than revenue or expense), or None of These:
1. Deferred Revenue = Revenue
2. Supplies Expense = Expense
3. Issuance of Stock = Changes to Stockholders' Equity
Explanation:
Revenue represents the gross income that an entity receives from the sale of goods and services to customers. Revenue is therefore classified as either Sales Revenue or Service Revenue. It is an important item in the computation of the net income of the entity at the end of a financial period.
Expense represents the gross costs incurred by an entity for the sale of goods and services to its customers. It is usually deducted from the Revenue to obtain the net income.
Changes to Stockholders' Equity occur from revenues and expenses. They also occur from other business transactions like the issuance of stock to stockholders.
You recently purchased 1,300 shares of stock at a cost per share of $54.10. The initial margin requirement on this stock is 60% and the maintenance margin is 30%. The stock is currently valued at $42.30 a share. What is your current margin position?
Answer:
The current margin position is 48.84%.
Explanation:
This can be calculated as follows:
Margin loan = Number of shares purchased * Cost per share * (1 - Initial margin requirement) = 1,300 * $54.10 * (1 - 60%) = $28,132
Current value of stock = Number of shares purchased * Current price per share = 1,300 * $42.30 = $54,990
Current equity = Current value of stock - Margin loan = $54,990 - $28,132 = $26,858
Current margin position = Current equity / Current value of stock = $26,858 / $54,990 = 0.488416075650118, or 48.8416075650118%
Rounding to 2 decimal places, we have:
Current margin position = 48.84%
Therefore, the current margin position is 48.84%.
If a firm's average total cost decreases as the firm increases its output, the firm's marginal cost must be
Answer:
Less than average total Cost
Explanation:
Average total cost can be estimated as
(total fixed cost as well as variable costs )/ ( total units produced). It has a great impact on how a business is going to set up the price of their products. Marginal cost is can be regarded as alteration in total cost as a result of increase in unit of quantity produced. It should be noted that If a firm's average total cost decreases as the firm increases its output, the firm's marginal cost must be Less than the average total cost
Which of the following is a product-based business?
O hotels
O clothing
o lawn care
O consulting
Clothing is a product-based business. Thus, option D is correct.
What is a business?Business refers to the activity of creating, purchasing, and reselling goods in order to support oneself financially.
A product-based firm offers tangible items such as apparel or cartons, whereas a service-based company produces a service the consumers require, such as a plumber or advising or making clothes.
Firms add value under a commodity business plan by inventing distinct products to meet specific client demands, and they generate profits by charging a fee for such items. The people will buy the product.
The people were present with the product of the clothes that were present. The person will be based on the clothes that they wear. Therefore, option D is the correct option.
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Which of the following statements is most accurate regarding sufficient and appropriate documentation?
A. Audit documentation is the property of the client, and sufficient and appropriate copies should be retained by the auditor for at least 5 years.
B. Sufficient and appropriate documentation should include evidence that it has been reviewed.
C. Accounting estimates are not considered sufficient and appropriate documentation.
D. If additional evidence is required to document significant findings or issues, the original evidence is not considered sufficient and appropriate and therefore should be deleted from the working papers.
Answer:
A
Explanation:
10. In which scenario do most homeowners use equity in their home? A). To pay off student loan B). When they have children C). When they sell it to buy a new One D). When they’re threatened with foreclosure.
Answer:
D. When they're threatened with foreclosure
Explanation:
Most homeowners make use of their equity when they sell their house and purchase a new one. So, option (C) is the best choice.
The difference between a property's current market value and any outstanding liens or mortgages is referred to as equity in a home. Through their recurring mortgage payments and any value growth of the home, homeowners gradually increase the equity in their properties.
Homeowners can utilize the equity they have accumulated to buy a new house if they decide to sell their current one. They can utilize the equity to pay for the down payment on a new house or to lower the size of the mortgage they need to take out. The most typical situation in which homeowners spend their equity in their homes is this one.Therefore, Most homeowners make use of their equity when they sell their house and purchase a new one. So, option (C) is the best choice.
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The company observed that at 20,000 machine hours of activity, total maintenance costs averaged $10.50 per hour. When activity jumped to 24,000 machine hours, which was still within the relevant range, the average total cost per machine hour was $9.75. On the basis of this information, the company's fixed maintenance costs were:
Answer:
Total fixed cost element = $90000
Explanation:
To calculate the fixed maintenance cost, first we will use the high-low method to calculate the element of average variable maintenance cost per machine hour in the average total maintenance cost.
The value of highest activity = 24000 * 9.75 = $234000
The value of lowest activity = 20000 * 10.5 = $210000
Average VC per MH = (234000 - 210000) / (24000 - 20000)
Average VC per MH = $6 per machine hour
Total Average variable cost (24000 MH) = 6 * 24000 = $144000
Total fixed cost element = 234000 - 144000 = $90000
At Medallion Industries, variable cost per unit is budgeted to be $8.00 and fixed cost per unit is budgeted to be $5.00 in a period when 4,000 units are produced. What is the expected total cost of the units produced at Medallion, if instead, production is actually 5,100 units
Answer:
Total cost= $60,800
Explanation:
Giving the following information:
For 4,000 units:
Unitary variable cost= $8
Unitary fixed cost= $5
First, we need to calculate the total fixed cost:
Total fixed cost= 5*4,000= $20,000
Now, we can determine the total cost for 5,100 units:
Total cost= 5,100*8 + 20,000
Total cost= $60,800
A stress test in finical marketing means:_____.
A. Aims to test the behavior of historical returns and their fluctuations during all sorts of potential financial crises.
B. Does not look at historical returns, and looks at all the details of the portfolios and their vulnerabilities during all sorts of potential financial crises.
C. Tries to incorporate all potential economic and financial crises, such as recessions, appreciation and depreciation of currency, liquidity crisis, etc.
D. Tries to incorporate all the interconnections between financial institutions.
Answer:
C.
Explanation:
Stress tests are carried out to determine how financial systems would react in periods of extreme stress eg. financial or economic crisis.
Stress situations are simulated and the reaction of the financial system to the stress is measured. Based on the reactions of the financial system, steps are taken to further improve or strengthen the financial system.
The scenarios used in a stress test can be based on historical events (events that have already occurred) or hypothetical events.
You are reviewing your client's bank feed. She has several expense transactions for the local gas station that are correctly categorized. Go to the For Review tab in the Banking Center Select the multiple gas transactions.
Answer: Select Add
Explanation:
Here's the complete question:
You are reviewing your client's bank feed. She has several expense transactions for the local gas station that are correctly categorized.Go to the For Review tab in the Banking CenterSelect the multiple gas transactions_____________________________What step completes the process for adding all of these transactions to the bankfeed at the same time?
a. Select Add
b. Select Accept
c. Select Exclude
d. Select Update
This is an easy question to solve. Since we are just adding all of these transactions to the bankfeed at the same time, the thing to do is to "select add"
A purely domestic firm that sources its products, sells its products, and raises its funds domestically. . Which of the following is not correct?
a. can face stiff competition from a multinational corporation that can source its products in one country, sell them in several countries, and raise its funds in a third country.
b. cannot be more competitive than a MNC on its home turf even if it has superior knowledge of the local market.
c. can still face exchange rate risk, just like a MNC.
d. can still face country risk, just like a MNC.
Answer:
b. cannot be more competitive than a MNC on its home turf even if it has superior knowledge of the local market.
Explanation:
In the given scenario a company that sources its products, sells its products, and raises its funds domestically will most likely have more competitive advantage than a multinational corporation.
This is due to the fact that it has superior knowledge of the local market.
MNCs will have a hard time adapting to the local market to compete effectively with the local companies.
However local businesses and MNCs will face common challenges like country risk and exchange rate risk.
Because MNCs have ability to source its products in one country, sell them in several countries, and raise its funds in a third country they will provide a stiff competition
Context content and culture are
Complete Question:
Context, content and culture are:
O Important ethical concepts
O Important marketing concepts
O Corporate ethics policy
O Three dimensions of evaluating corporate gifts.
Answer:
Context, content and culture are:
O Three dimensions of evaluating corporate gifts.
Explanation:
Corporate gifts may turn out to be regarded as bribery if they are meant to induce the other party to alter their behaviors. This is why in evaluating corporate gifts, the criteria have always included the context (the circumstances in which the gifts are given), the content (how much is given), and the culture (the accepted general practice in a particular industry, locality, or region). Generally, corporate gifts are given either as means of showing appreciation, creating positive first impression, or returning some favors.
Context, content and culture are the three dimensions of evaluating corporate gifts. That is, criteria that define the ethical nature of corporate gifts.
The context is determined by the circumstance in which a corporate gift is given. The content refers to what is given as a corporate gift.
Culture refers to the acceptability and compliance of the practice of providing corporate gifts in a particular company and location.
This practice of providing corporate gifts can be seen as unethical if such gifts are given for the purpose of bribery, gaining privileged information or anything that leads a party to engage in unethical behavior.
Therefore, the three dimensions of corporate gift valuation will help to maintain ethics as a regulatory and guiding concept in the practice of providing gifts.
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Analysis of a company's financial statements: Below are simplified versions of the balance sheet and income statement for Toys by Tom, Inc. Use this information to answer the following question. A 15% increase in inventory turns for Toys by Tom, Inc. would bring this ratio to ____, suggesting ________ in ________.
Answer: 3.9 times; an improvement; efficiency
Explanation:
Inventory turns is calculated by the formula:
= COGS / Inventory
= 8.4 / 2.50
= 3.36
Increased by 15%:
= 3.36 * (1 + 15%)
= 3.864
= 3.9 times
Inventory turns is used to show how often the inventory was sold in a period. A higher ratio therefore presents increased efficiency and is desired.
Yekutia has the resources to manufacture 320 motorcycles or 570 lawn-mowers per year. The country of Bezanitia, has the capability of producing 230 motorcycles or 410 lawn-mowers per year. Which country has the largest opportunity cost to produce one more motorcycle and what is the opportunity cost to that country?
Answer:
Bezanitia,
1.782609
Explanation:
Opportunity cost is the cost of the next best option forgone hen one alternative is chosen over another alternative.
By choosing to produce one more motorcycle, the countries would be giving up the opportunity to produce one more unit of lawn mowers
Yekutia's opportunity cost in the production of motor cycle = 570 / 320 = 1.781250
Bezanitia's opportunity cost in the production of motor cycle = 410 / 230 = 1.782609
Assume Italy and Chad can both produce grain and dates, and that the only limited resource is the farming labor force, meaning that land, water, and all other resources are plentiful in both countries. Each farmer in Italy can produce 10 t of grain or 5 t of dates in a season. Each farmer in Chad can also produce 10 t of grain or 25 t of dates.
1. Which country has the absolute advantage in producing dates?
A. Italy.
B. Chad.
C. Neither.
2. Which country has the absolute advantage in producing grain?
A. Italy.
B. Chad.
C. Neither.
3. Which country has the competitive advantage in producing dates?
A. Italy.
B. Chad.
C. Neither.
4. Which country has the comparative advantage in producing grain?
A. Italy.
B. Chad.
C. Neither.
Answer:
chad
neither
chad
Italy
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
The opportunity cost of Italy in producing one unit of grain = 5/10 = 0.5t dates
The opportunity cost of Italy in producing one unit of dates = 10/5 = 2grains
The opportunity cost of Chad in producing one unit of grain = 25/10 = 2.5 dates
The opportunity cost of Chad in producing one unit of dates = 10/25 = 0.4 grains
Italy has a comparative advantage in the production of grains while Chad has a comparative advantage in the production of dates
A country has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries. Chad produces 25t of dates while Italy produces 5t of dates, this shows that Chad has an absolute advantage in the production of dates. Both Italy and Chad produces the same quantity of grains so neither have an absolute advantage in the production of grains.
Improvised explosive devices (IEDs) are responsible for many deaths in times of strife and war. Unmanned ground vehicles (robots) can be used to disarm the IEDs and perform other tasks as well. If the robots cost $130,000 each and the military arms unit signs a contract to purchase 3,500 of them now and another 6,500 one year from now, what is the equivalent annual cost of the contract over a 5-year period at 10% per year interest
Answer:
$258,434,439.9
Explanation:
Calculation for what is the equivalent annual cost of the contract
Equivalent annual cost = [3,500 x $130,000 x A/P(10%, 5) ]+ [6,500 x $130,000 x P/F(10%, 5) x A/P(10%, 5)]
Equivalent annual cost = [$455,000,000 x 0.2638] + [$845,000,000 x 0.6209 x 0.2638]
Equivalent annual cost =$120,029,000+$138,405,439.9
Equivalent annual cost =$258,434,439.9
Therefore the equivalent cost of the contract is determined to be $258,434,439.9
Bill and Fred bake cakes and pies. Bill's opportunity cost of baking 1 pie is 5 cakes. Fred's opportunity cost of baking 1 pie is 7 cakes. If both parties are to benefit from trade then we can expect 1 pie to sell for: Group of answer choices
Explanation:
Bill will benefit from trade If 1P > 3C and Fred will benefit from trade If 1P < 5C
Thus, both will benefit from exchange if 3C < 1P < 5C.
That means that both of them would benefit from trading if 1 pie are to be traded for more than 3 cakes and less than 5 cakes like 1 pie is exchanged for 4 cakes. (As a result, since both sides are to profit from exchange, we should expect 1 pie to be exchanged for 4 cakes)
The following units of an inventory item were available for sale during the year. Use this information to answer the following questions.
Beginning inventory 10 units at $55
First purchase 25 units at $60
Second purchase 30 units at $65
Third purchase 15 units at $70
The firm uses the periodic inventory system. During the year, 60 units of the item were sold.
The value of ending inventory using FIFO is:________
a. $1,350
b. $1,150
c. $1,375
d. $1,250
Answer:
The value of ending inventory using FIFO is $1,375
Explanation:
Under FIFO the items of inventory purchases earlier will be sold first and the items purchased later will be sold at last.
First, we need to calculate the total available inventory units
Numbers of units available to sale = Beginning Inventory + First purchase + Second purchase + Third purchase = 10 units + 25 units + 30 units + 15 units = 80 units
Now 60 units out of 80 are sold the remaining 20 units ( 80 units - 60 units ) will be in the ending inventory.
As per FIFO 20 units will be values as per the last 20 units purchases which will be as follow
Ending Invetory = ( 15 units x $70 ) + ( (20-15) units x $65 ) = $1,375
Colleen Fernandez, president of Rhino Enterprises, applied for a $175,000 loan from First Federal Bank. The bank requested financial statements from Rhino Enterprises as a basis for granting the loan. Colleen has told her accountant to provide the bank with a balance sheet. Colleen has decided to omit the other financial statements because there was a net loss during the past year
Discuss the following questions:
a. Is Colleen behaving in a professional manner by omitting some of the financial statements?
b. What types of information would business owners be willing to provide bankers? Why types of information would business owners not be willing to provide?
c. What types of information would bankers want before extending a loan?
d. What common interests are shared by bankers and business owners?
Answer:
No ; kindly check explanation
Explanation:
1.)
Colleen's decision to provide incomplete document is unprofessional and collen has literally tried to conceal useful information required by the bank before making a decision. Hence, Colleen's act is unprofessional.
. What types of information would business owners be willing to provide bankers?
2.) Business owners will only be willing to disclose to banks information which showcase ands acknowledge that their business is prospering as this will fast track their loan application and worth.
3.) Banks wants information which will disclose the performance of the business making the loan application, information including business worth and periodic revenue or profit.
4.)
* Flexibility on repayment plan
* Balanced interest charge
* Less risk
* steady repayment when due
All you need to know to do your taxes is your gross income.
True or False
Answer: Taxable income starts with gross income, then certain allowable deductions are subtracted to arrive at the amount of income you're actually taxed on. Tax brackets and marginal tax rates are based on taxable income, not gross income.
sooo no
Match each term with how related transactions affect the accounting equation. Dividends Expenses Revenues Assets Liabilities Match each of the options above to the items below. Transactions that affect the left side of the accounting equation.Transactions that affect the left side of the accounting equation. Open choices for matching No answer Transactions that increase stockholders' equity.Transactions that increase stockholders' equity. Open choices for matching 1 Transactions that affect the right side of the accounting equation not related to stockholders' equity.Transactions that affect the right side of the accounting equation not related to stockholders' equity. Open choices for matching No answer Transactions that decrease stockholders' equity related to distributions to stockholders.Transactions that decrease stockholders' equity related to distributions to stockholders. Open choices for matching No answer Transactions that decrease stockholders' equity related to cost of generating revenues.
Answer:
1. Dividends
Correct match: Transactions that decrease stockholders' equity related to distributions to stockholders.
2. Expenses
Correct match: Transaction that decrease stockholders' equity related to cost of generating of generating revenues.
3. Revenues
Correct match: Transactions that increase stockholders' equity.
4. Assets
Correct match: Transactions that affect the left side of the accounting equation.
5. Liabilities
Correct match: Transactions that affect the right side of the accounting equation not related to stockholders' equity.
The sole proprietor of Sam's Swings is interested in gaining a better understanding of his current customers in terms of certain demographic and lifestyle characteristics so he may better serve their needs. For this purpose, he should most appropriately conduct ________ research.
Answer:
Descriptive.
Explanation:
This is explained to be be a form of study that shows to be done in a descriptive manner where it talks about the data analysis, design and form at which the given topic is been solved at the said moment. This is why in the above case, the demographic and lifestyle properties are been ascertained for better conclusions that can drive to the given description. When this is gotten, it will be clearly seen to get a resonable amount ofescription which he require.
Raymond Moss, vice president of Moss Auto Parts, gets an annual bonus of 15% of any income, before deducting bonus and income taxes, above $100,000. Income before bonus and income taxes is $250,000. The effective income tax rate is 30%. Required: 1. Compute the amount of Raymond Moss's bonus. Bonus
Answer:
$22,500
Explanation:
Raymond Moss's bonus is computed as the excess of $100,000 of income before bonus and income taxes.
In other words, the income before bonus and income taxes of $250,000 minus $100,000 is the amount upon which the bonus is computed.
Bonus=excess of income before bonus and income taxes*rate of bonus
income before bonus and income taxes.=$250,000-$100,000
income before bonus and income taxes.=$150,000
bonus rate=15%
Bonus=$150,000*15%
Bonus=$22,500
A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $2,000 per month for the next three years and then $1,000 per month for two years after that. If the bank is charging customers 9.75 percent APR, how much would it be willing to lend the business owner
Answer:
$78,443.29
Explanation:
we need to use the present value of an annuity formula:
the formula used to determine the present value factor of an annuity is:
present value annuity factor = [1 - 1/(1 + i)ⁿ ] / i
we must divide this into 2 parts:
the first part will deal with the $2,000 monthly payment
the second part deals with the $1,000 monthly payment
i = 9.75% / 12 = 0.8125%
n (first part) = 36
n (second part) = 24
the PV annuity factor for first part = [1 - 1/(1 + 0.8125%)³⁶ ] / 0.8125% = 31.1043
the PV annuity factor for first part = [1 - 1/(1 + 0.8125%)²⁴ ] / 0.8125% = 21.7251
loan = ($2,000 x 31.1043) + ($1,000 x 21.7251)//(1 + 0.8125%)³⁶ = $62,208.60 + $16,234.69 = $78,443.29
= [1 - 1/(1 + 0.0069942)240 ] / 0.0069942 = 116.135183
among the major drawbacks of highly centralized organizational structure is that it allows for tight control from the top that makes it easy to fix accountability when things do not go well. allows top executives to retain authority for most strategic and operating decisions. can lengthen response times by those closest to the market conditions because they must seek approval for their actions. relies on the assumption that most company personnel have neither the time nor the inclination to direct and properly control the work they are performing and, further, that they lack the knowledge and judgment to make wise decisions about how best to do their work. is based on strict enforcement of detailed procedures backed by rigorous managerial oversight as the most reliable way to keep the daily execution of strategy on track.
Answer: can lengthen response times by those closest to the market conditions because they must seek approval for their actions
Explanation:
Centralization simply refers to a form of organizational scenario where there is one person at the top that usually makes the major decisions for the company. The powers are usually held by those at the top and messages are passed to the lower level to be implemented.
One major drawback is that it can lengthen the response times by those closest to the market conditions because they must seek approval for their actions.
Pab Corporation decided to establish Sollon Company as a wholly owned subsidiary by transferring some of its existing assets and liabilities to the new entity. In exchange, Sollon issued Pab 30,000 shares of $6 par value common stock. The following information is provided on the assets and accounts payable transferred:
Cost Book Value Fair Value
Cash $44,000 $44,000 $44,000
Inventory 76,000 76,000 76,000
Land 79,000 79,000 109,000
Buildings 175,000 134,000 249,000
Equipment 90,000 76,000 121,000
Accounts Payable 63,000 63,000 63,000
Required:
Prepare the journal entry that Pab recorded for the transfer of assets and accounts payable to Sollon.
Answer:
Debit : Cash $44,000
Debit : Inventory $76,000
Debit : Land $109,000
Debit : Buildings $249,000
Debit : Equipment $121,000
Credit : Accounts Payable $63,000
Credit : Shares (30,000 x $6) $180,000
Credit ; Gain on Bargain Purchase $356,000
Explanation:
Assets and liabilities are acquired at their Fair Value Amounts instead of Cost or Book Value.
A transfer of some of the asset of a Company is referred as a Asset acquisition transaction instead of Business Combination (Acquirer obtains control of one or more businesses).
This is an asset Acquisition Transaction and no consolidated Financial Statements will be prepared.
The excess of Net Assets Acquired over the consideration is called Gain on Bargain Purchase and this amounts to $356,000.
what are the 6 critcal elements of a successful business
Answer:
Capital
Invest ment
Skilled manpower
High quality products
Machinery
Raw materials
Janice Davis, a marketing representative for a U.S. firm, was looking forward to her assignment in Japan because she had visited the country on one occasion. However, her anticipation quickly turned to frustration. Because all store signs were in Japanese, she didn't know where to buy even a broom. Directions and instructions for using appliances were in Japanese. How could Janice have better prepared herself for the cultural shock she experienced
Answer:
Janice should have researched and studied the culture and living conditions of Japan before coming to the country. It is their culture to use the Japanese language for signs and instructions
Explanation:
Culture shock occurs when an individual moves to a cultural environment that is different from their own. This results in a disorientation from experiencing unfamiliar way of life.
If adequate preparation is not made before coming into the new environment it will most likely result in frustration as one finds it difficult to fit in.
In this instance Janice should have studied the culture most especially the language before coming into the country. This would have made it easier for her to adapt to their way of life.
