The predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
Coleridge Company estimates that its production workers will work 125,000 direct labor hours during the upcoming period and that overhead costs will amount to $750,000. Assume overhead to be allocated on the basis of direct labor hours.
What predetermined overhead rate would be used to apply overhead to production during the period?The predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
How to calculate predetermined overhead rate?Predetermined overhead rate is calculated by dividing estimated overhead by estimated activity level.
Here is the formula for calculating predetermined overhead rate:
Predetermined Overhead Rate = Estimated Overhead / Estimated Activity Level
Given the following information: Estimated Overhead = $750,000
Estimated Activity Level = 125,000 direct labor hours
Using the formula:
Predetermined Overhead Rate = $750,000 / 125,000
direct labor hours= $6 per direct labor hour
Therefore, the predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
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serena is preparing her budget for the upcoming year. this would be good time for her to a. run best-case and worst-case scenarios. b. enforce a cost-containment strategy. c. communicate with her suppliers and scrutinize her relationships with them. d. up her expectations for the upcoming year.
serena is preparing her budget for the upcoming year. this would be a good time for her to run best-case and worst-case scenarios. Option A is the correct answer.
Serena is preparing her budget for the upcoming year, and it would be a good time for her to run best-case and worst-case scenarios.
This involves analyzing different financial projections based on various scenarios and assumptions, such as changes in revenue, expenses, and market conditions.
By doing so, Serena can be better prepared for unexpected events and make informed decisions about how to allocate her resources.
This approach can also help her identify potential risks and opportunities, and adjust her budget accordingly to optimize her financial outcomes.
Therefore, option A is the correct option, run best-case and worst-case scenarios.
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determine the semi-annual interest payment for the following three bonds: 2.5 percent coupon corporate bond, 3.15 percent coupon treasury note, and a corporate zero-coupon bond maturing in 10 years. (assume a $1,000 par value.)
The semi-annual interest payment for the following three bonds is as follows: 2.5 percent coupon corporate bond: $25; 3.15 percent coupon treasury note: $31.50; and a corporate zero-coupon bond maturing in 10 years: $0.
A 2.5 percent coupon corporate bond with a $1,000 par value will yield $25 of semi-annual interest payments (2.5% * $1,000 / 2).
Similarly, a 3.15 percent coupon treasury note with a $1,000 par value will yield $31.50 of semi-annual interest payments (3.15% * $1,000 / 2).
A corporate zero-coupon bond maturing in 10 years does not yield any semi-annual interest payments since it is a zero coupon bond. The $1,000 par value is only paid at maturity.
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The Corata Appliance Manufacturing Corporation manufactures two vacuum cleaners, the Standard and the Super. The following information was gathered about the two products:
Standard Super
Budgeted sales in units 2700 700
Budgeted selling price $600 $1,700
Budgeted contribution margin per unit $500 $1070
Actual sales in units 2800 1400
Actual selling price $650 $1,680
What is the total sales-quantity variance in terms of the contribution margin? (Round intermediary calculations to two decimal places.)
A. $495,760 favorable
B. $179,760 favorable
C. $316,000 favorable
D. $136,240 favorable
The total sales-quantity variance in terms of the contribution margin is $316,000 favorable. Calculate the total sales-quantity variance using the following formula:
Total sales-quantity variance = (Actual sales – Budgeted sales) × Budgeted contribution margin per unit Budgeted sales of the Standard vacuum cleaner = 2,700 units Budgeted selling price of the Standard vacuum cleaner = $600Budgeted contribution margin per unit of the Standard vacuum cleaner = $500Budgeted sales of the Super vacuum cleaner = 700 units Budgeted selling price of the Super vacuum cleaner = $1,700Budgeted contribution margin per unit of the Super vacuum cleaner = $1070Actual sales of the Standard vacuum cleaner = 2,800 units Actual selling price of the Standard vacuum cleaner = $650Actual sales of the Super vacuum cleaner = 1,400 units Actual selling price of the Super vacuum cleaner = $1,680For the Standard vacuum cleaner: Budgeted sales = 2,700 units Actual sales = 2,800 units Budgeted contribution margin per unit = $500Total sales-quantity variance for the Standard vacuum cleaner = (2,800 – 2,700) × $500 = $50,000FavorableFor the Super vacuum cleaner: Budgeted sales = 700 units Actual sales = 1,400 units Budgeted contribution margin per unit = $1070Total sales-quantity variance for the Super vacuum cleaner = (1,400 – 700) × $1070 = $749,000FavorableTotal sales-quantity variance = $50,000 Favorable + $749,000 Favorable= $799,000 Favorable Therefore, the total sales-quantity variance in terms of the contribution margin is $316,000 Favorable.
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patton dyes manufactures colorings, primarily for textiles. information on the work in process follows: beginning inventory, 180,000 partially complete liters. ending inventory, 150,000 liters; units are 25 percent complete with respect to materials and 60 percent complete with respect to conversion costs. started this month, 703,000 liters. assume that beginning inventory is 20 percent complete with respect to materials and 40 percent complete with respect to conversion costs. required: compute the equivalent units for materials using fifo. compute the equivalent units for conversion costs using fifo.\
FIFO method of equivalent unit calculation: FIFO stands for first in, first out. In the FIFO method, you calculate the equivalent units of work in process under the assumption that the first unit that was started is also the first unit that is finished. FIFO equivalent units for conversion costs = 553,000 + (150,000 x 0.60) - (180,000 x 0.40)= 553,000 + 90,000 - 72,000= 571,000 liters
The FIFO method is useful when you want to determine how much material or conversion costs were used during a specific period of time. You can use the following formula to calculate the equivalent units of work in process:
FIFO equivalent units = Units completed + (Ending inventory x Percentage complete) - (Beginning inventory x Percentage complete)
Here's how you can calculate the equivalent units of work in process for Patton Dyes:Equivalent units for materials using FIFO:Units completed: 553,000 liters. Ending inventory: 150,000 liters. Percentage complete: 25% (given)
Beginning inventory: 180,000 liters. Percentage complete: 20% (given). FIFO equivalent units for materials = 553,000 + (150,000 x 0.25) - (180,000 x 0.20)= 553,000 + 37,500 - 36,000= 554,500 liters. Equivalent units for conversion costs using FIFO:Units completed: 553,000 liters. Ending inventory: 150,000 liters. Percentage complete: 60% (given). Beginning inventory: 180,000 liters. Percentage complete: 40% (given).
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Which of the following is a marketing format that uses banner ads and pop-ups with interactive features?a. video adsb. search engine adsc. rich media adsd. e-mail adse. display ads
The marketing format that uses banner ads and pop-ups with interactive features is called rich media ads. option (c) is the correct answer.
Banner ads are the most popular type of online advertising because they are cost-effective and have a high reach. Pop-up ads are ads that appear in a new browser window when a user clicks on a hyperlink or when a page is loading.
They can be very annoying, and users usually close them immediately. However, pop-ups can be useful if they provide relevant information or offer a discount or free trial to users who complete a short survey or enter their email address. Pop-ups can also be used to promote events or new products or services.
Rich media ads are a type of online advertising that uses banner ads and pop-ups with interactive features.
Search engine advertising is a type of online advertising that appears on search engine results pages (SERPs).
Email ads are ads that are sent to users’ email inboxes.
Therefore option C is the correct answer rich media ads.
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The steps involved in finding the bottleneck in a process with a product mix include all the following EXCEPT:
B) Compute the capacity level for each resource
C) Compute the flow rate for each resource
D) Compute in the implied utilization for each resource
The stages below, with the exception of computing the flow rate for each resource, are involved in identifying the bottleneck in a process with a product mix.
The entire number of business units and various services and products that an organization offers is its portfolio mix. also referred to as a product selection or product portfolio. Product combinations differ amongst businesses. A product is something that a business produces and distributes to its clientele. A company's maximum number of business units or individual items is referred to as its product mix. The overall variety of product lines and varieties that a firm offers for sale to its clients is known as the product mix.
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Several years ago, Rolen Riders issued preferred stock with a stated annual dividend of 8% of its $100 par value. Preferred stock of this type currently yields 9%. Assume dividends are paid annually. What is the value of Rolen's preferred stock? Round your answer to the nearest cent. Suppose interest rate levels have risen to the point where the preferred stock now yields 11%. What would be the new value of Rolen's preferred stock? Round your answer to the nearest cent.
FV of an unendingness = C/r = 10/0.08 = 125 .
A perpetuity's FV is equal to C/r =10/0.12 = 83.33.
When a company issues eight preferred shares with a par value of $100, what does this indicate?a business issued $100 par value 8% preferred stock. this entails: $100 par value multiplied by 8% preferred stock dividend yields an annual dividend of $8 per share. Therefore, a potential annual dividend of $8 per share could be paid to preferred stockholders. Divide the annual dividends paid per share by the price per share to determine dividend yield. For instance, on the off chance that an organization paid out around INR 412 in profits for every offer and its portions at present expense INR 12,370, its profit yield would be 3.33%. To determine the annual dividends, multiply the dividend per period by the number of payments made each year if your dividend frequency is not annual. Find out how much a share costs. Divide the share price by the annual dividends to get the dividend yield.
FV of an unendingness = C/r = 10/0.08 = 125 .
A perpetuity's FV is equal to C/r =10/0.12 = 83.33.
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Which positioning base for a product or service focuses on a personality or type of consumer? a. Product class b. Attribute C. Emotion d. Product user
The positioning base, named, "product user" focuses on a personality or type of consumer. Option D is the correct answer.
Positioning is a crucial element in the marketing mix and refers to how a company creates an image or identity in the minds of consumers for its product or service. One such positioning base is product user, where the focus is on the personality or type of consumer. By identifying and targeting a specific group of consumers based on their characteristics, interests, or lifestyles, companies can tailor their marketing strategies to appeal to this group and differentiate themselves from competitors. This approach can help companies build brand loyalty and increase sales among their target market.
Therefore, option D is the correct answer.
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demand for a product is given by cases of the product at a price of $ per case. at what price will consumers no longer purchase the product?
Based on the demand of a product given, the price at which consumers will no longer purchase the product is $100.
The demand for a product is given by D (p) = -125 ln(0.01p) cases of the product at a price of $p per case. The price of the product when consumers no longer purchase it can be found by setting the demand function equal to zero.
The formula for the demand function is:
D(p) = -125 ln(0.01p)
To find the price at which consumers no longer buy the product, we'll set D(p) to 0 and solve for p.
0 = -125 ln(0.01p)
Divide both sides by -125.
-125 ln(0.01p)/-125 = 0/-125
ln(0.01p) = 0
We'll now solve for p by exponentiating both sides.
e^0 = e^(ln(0.01p))
1 = 0.01p
Divide both sides by 0.01.
p = 100
Therefore, consumers will no longer purchase the product at a price of $100 per case.
Note: The question is incomplete. The complete question probably is: Demand for a product is given by D (p) = -125 ln(0.01p) cases of the product at a price of $p per case. At what price will consumers no longer purchase the product?
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when consumers associate a brand with a certain level of quality and familiar attributes, consumers are able to make quick decisions. in this situation, the brand
a. Established novelty
b. Is the only one the consumer will consider
c. Facilitates purchasing
d. Reduces delivery costs
Creates brand reputation
When consumers associate a brand with a certain level of quality and familiar attributes, consumers are able to make quick decisions. In this situation, the brand facilitates purchasing. The correct option is c. Facilitates purchasing
What does a brand do?
A brand facilitates purchasing when consumers associate it with a certain level of quality and familiar attributes. Consumers are able to make quick decisions as a result of this. In conclusion, when a brand is associated with a particular level of quality and familiar characteristics, consumers are more likely to make quick purchasing decisions.
As a result, the brand has established a reputation that facilitates the buying process. This increases sales and revenue for the company, as well as establishes customer loyalty to the brand.
Therefore, the correct option is c.
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The increase in unemployment associated with a recession is called _____.
a. structural unemployment
b. frictional unemployment
c. discouraged unemployment
d. cyclical unemployment
d. cyclical unemployment.
Cyclical unemployment is the brief rise in unemployment that happens during a recession or economic cycle downturn as demand for products and services declines and businesses fire employees.
Cyclical unemployment is a rise in unemployment that happens during an economic downturn or recession as a result of a drop in aggregate demand. Businesses are less inclined to hire new employees and may even fire present employees when the economy as a whole is struggling, which raises the unemployment rate. This is distinct from frictional unemployment, which is the temporary unemployment that happens when employees hunt for new jobs, and structural unemployment, which happens when there is a mismatch between the abilities of workers and the available jobs. Those who have given up seeking work and are no longer included in the official unemployment statistics are referred to as discouraged unemployed.
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Why are food trucks' costs typically lower than those of a traditional brick-and-mortar
restaurant?
Answer:
Being mobile, food trucks can simply drive to a more profitable site if a location is not cutting it. Food trucks don't bear the larger overhead of brick-and-mortar restaurants. The costs of wide-ranging staff, utilities and property taxes of typical brick-and-mortar restaurants can really stack up.
Which of the following information that comes to an auditor's attention most likely would raise a question about the occurrence of illegal acts?
A. The exchange of property for similar property in a nonmonetary transaction
B. The discovery of unexplained payments made to government employees
C. The presence of several difficult-to-audit transactions affecting expense accounts
D. The failure to develop adequate procedures that detect unauthorized purchases
The information that comes to an auditor's attention that would raise a question about the occurrence of illegal acts is B) The discovery of unexplained payments made to government employees.
What is auditing?Auditing is the process of examining financial statements, accounting records, and evidence, including books of account and vouchers, to determine whether the information provided is consistent with the underlying transactions. An audit's objective is to provide an independent opinion on a company's financial statements' reliability.
The information that comes to an auditor's attention that would raise a question about the occurrence of illegal acts is The discovery of unexplained payments made to government employees. The answer is B.
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Suggest 3 ways in which the municipality can effectively use transparency to involve the community in matter of service delivery. Also indicate in your answer how this can improve the ownership of service delivery and thus avoid the destruction of already built infrastructure during protest matches
The three ways in which municipality can effectively use transparency are openly communicate about service delivery plans, make data on service delivery available to the public and solicit feedback on service delivery.
What is service delivery?Service delivery refers to the process of providing a service to a customer or client. It involves all aspects of the service, including its design, development, implementation, and ongoing support. Effective service delivery requires a combination of people, processes, and technology, and must be aligned with the needs and expectations of the customer. This includes understanding the customer's requirements, providing timely and accurate information, delivering the service in a timely and efficient manner, and following up with the customer to ensure their satisfaction. Service delivery can take many forms, including in-person interactions, phone and email support, self-service options, and more. Ultimately, successful service delivery requires a focus on continuous improvement, ensuring that the service remains relevant, effective, and valuable to the customer over time.
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What do you call the people organizations and procedures involved in producing and delivering products and services from primary sources to end users?
The people, delivering, and procedures involved in producing and delivering products and services from primary sources to end users are known as the supply chain.
What is a supply chain? A supply chain refers to the various entities, individuals, and activities that are involved in the production and delivery of products and services. From the point of origin to the point of consumption, supply chain management includes all activities, people, and organizations involved in delivering a product or service.A supply chain is made up of several components, including the following:Raw materials or components that are used in the production process.The manufacturer or producer of the goodsThe distributors and logistics providers responsible for moving the goodsThe retailer or end customer who purchases and uses the goods or services.Components of the supply chain:Planning, sourcing, manufacturing, delivery, and returns are the five main components of the supply chain. These components are essential for effective supply chain management, and they must work together seamlessly for the process to be successful. Each of these components has a critical role in the supply chain and requires careful attention to detail to ensure success.
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melanie, a salesperson for printers and scanners, is sending a proposal for printers to the home office of helix services in cedartown. to convince the executives in cedartown that the local vinson mountain branch office needs the printers and copiers she is selling, melanie would most likely:
Melanie should make a strong case for the need for the products, such as the convenience, cost-effectiveness, and efficiency of using her company's printers and copiers.
To convince the executives at Helix Services in Cedartown that the local Vinson Mountain branch office needs the printers and copiers she is selling, Melanie, the salesperson, would most likely:
Highlight the benefits: Melanie should clearly outline the benefits of the printers and copiers she is selling.
For example, she could emphasize that the new printers and copiers are faster, more efficient, and more cost-effective than the current equipment being used by the Vinson Mountain branch office.
Provide relevant data: Melanie should provide relevant data to support her claims.
For instance, she could present data that shows how the new equipment has helped other similar companies in the industry to improve their operations and increase their revenue.
Offer a demo or trial: Melanie could offer a demo or trial of the equipment to the executives in Cedartown.
This would allow them to see the benefits of the equipment firsthand and test its functionality.
By following these strategies, Melanie can effectively convince the executives at Helix Services in Cedartown that the local Vinson Mountain branch office needs the printers and copiers she is selling.
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Juanita and Neha are considering contributing toward the creation of a water fountain. Each can choose whether to contribute $300 to the water fountain or keep that $300 for a weekend getaway.Since a water fountain is a public good, both Juanita and Neha will benefit from any contributions made by the other person. Specifically, every dollar that either one of them contributes will bring each of the $0.70 of benefit. For example, if both Juanita and Neha choose to contribute, then a total of $600 would be contributed to the water fountain. So, Juanita and Neha would each receive $420 of benefit from the water fountain, and their combined benefit would be $840. This is shown in the upper left cell of the first table.Since a weekend getaway is a private good, if Juanita chooses to spend $300 on a weekend getaway, Juanita would get $300 of benefit from the weekend getaway and Neha wouldn't receive any benefit from Juanita's choice. If Juanita still spends $300 on a weekend getaway and Neha chooses to contribute $300 to the water fountain, Juanita would still receive the $210 of benefit from Neha's generosity. In other words, if Juanita decides to keep the $300 for a weekend getaway and Neha decides to contribute the $300 to the public project, then Juanita would receive a total befit of $300+$210=$510, Neha would receive a total benefit of $210, and their combined benefit would be $720. This is shown in the lower left cell of the first table.Complete the following table, which shows the combined benefits of Juanita and Neha has previously described:
Juanita keeps $300 for a weekend getaway
Juanita contributes $300 to the water fountain
Neha keeps $300 for a weekend getaway
Neha contributes $300 to the water fountain
Total benefit: $510
Total benefit: $840
When both Juanita and Neha contribute $300 to the water fountain, each person receives $420 of benefit from the water fountain. Their combined benefit is $840. If Juanita decides to keep her $300 for a weekend getaway, she still receives $210 of benefit from Neha's choice to contribute the money to the water fountain.
So, the combined benefit is $720, with Juanita receiving a total benefit of $510 and Neha receiving a total benefit of $210.
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Discrepancy of quantity is Select one:a. adjusting the quantities of products handled at each level in a channel of distribution.b. collecting products from many small producers.c. the difference between the lines a typical producer makes and the assortment final consumers or users want.d. usually seen with producers who specialize by product.e. the difference between the quantities of products that it is economical for a producer to make and the quantity final users or consumers normally want.
The Discrepancy of quantity is, option (c). the difference between the quantities of products that it is economical for a producer to make and the quantity of final users or consumers normally want.
What is a discrepancy in quantity? Discrepancy of quantity is the difference between the quantities of products that it is economical for a producer to make and the quantity of final users or consumers normally want. It means that the producer would want to produce products in bulk to make it economical, but the consumers might want to buy the product in a lesser quantity. Thus, this creates a discrepancy in quantity.
What are the different types of discrepancies in marketing? The different types of discrepancies in marketing are as follows:
Discrepancy of quantity: It is the difference between the quantities of products that it is economical for a producer to make and the quantity of final users or consumers normally want. Discrepancy of assortment: It is the difference between the lines a typical producer makes and the assortment final consumers or users want.Discrepancy of time: It is the difference between the time when a product is prepared and the time when it is needed by the customers.Discrepancy of location: It is the difference between the location of the producers and the location of the customers or users.For more such questions on Discrepancy
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A company can reduce its costs by using ebusiness to change its business processes. Which of the following does not represent an example of how a company can reduce its costs through ebusiness? Creating an online travel reservation. Ordering a product online. Researching products to find the lowest price and visiting the store to purchase the item. All of these.
The one that does not represent an example of how a company reduce its costs via e-business is "researching products to find the lowest price and visiting the store to purchase the item." Thus, C is correct.
What is e-business?E-business or Electronic business is any commercial or business activity that occurs through the use of the internet or other electronic technologies. E-business has become increasingly popular over the years as it allows for more efficient and cost-effective business operations.
In order to reduce costs, a company can use e-business to streamline business processes. For example, a company can use e-business to automate manual processes such as order processing, invoicing, and inventory management. This can help to reduce the cost of labor and reduce errors that can occur in manual processes.
In addition, e-business can help to reduce costs by allowing companies to reach a wider audience through online marketing and sales. This can help to reduce the cost of marketing and sales activities as well as increase sales by reaching a wider audience.
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because of time delays between receiving inventory and making the journal entry a. liabilities are usually correctly stated b. liabilities are usually understated c. liabilities are not affected
because of time delays between receiving inventory and making the journal entry liabilities are usually understated. The correct answer is b.
Inventory refers to a company's stock of goods, supplies, or raw materials that are held for the purpose of future production or sale. Inventory is a critical part of a company's working capital because it ties up funds that cannot be used until the inventory is sold.
Liabilities are usually understated due to time lags between receiving inventory and making the journal entry. As a result, liabilities that should have been recorded as accounts payable are not recorded in the company's accounting system. When a company receives inventory but does not record the accounts payable balance, the company's liabilities are understated.
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if an economic integration has factor mobility, free move of product, labor, and capital, it should be .
An economic integration with factor mobility, free movement of products, labor, and capital should be a Either common market or economic union.
What is either common market or economic union?A common market allows for the free movement of goods, services, capital, and labor between the participating countries. This is different from other forms of economic integration, such as a customs union, which only allows for the free movement of goods.
By lowering or removing internal tariffs on products and establishing a unified collection of external tariffs, common markets facilitate the free flow of labor, capital, and many other productive assets. Economic unions closely integrate the country's economic strategies of the nations that make up its membership.
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Because the scope of a business message for an expert is more detailed than that for layperson, what can business writers use when writing for an expert that they can't use for a layperson
When writing for an expert, business writers can use jargon that a layperson cannot.
When writing for an expert, business writers can use industry-specific jargon, technical terms, and acronyms that are commonly understood within the field. These specialized terms can communicate complex ideas and concepts more efficiently and precisely than layperson language, which may be too simplistic or general.
Using jargon can demonstrate to the expert reader that the writer understands the subject matter and can convey information effectively.
Business writers are experts in their field and are knowledgeable about specialised concepts. A layperson, on the other hand, is someone who isn't highly specialised and doesn't know much about a specific subject. As a result, business writers cannot use jargon when writing for the general public. Because jargon is a type of word that is frequently used by experts but is not fully understood by others.
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the complete question is:
Because the scope of a business message for an expert differs from that for a layperson, what can business writers use when writing for an expert that they cannot use when writing for a layperson?
A. graphics B. slang terms
C. colloquial language D. jargon E. examples
the contribution margin is the a.amount by which sales exceed total fixed cost. b.difference between sales and total cost. c.difference between sales and operating income. d.difference between sales and total variable cost. e.difference between variable cost and fixed cost.
The contribution margin is the difference between sales and total variable cost. (D)
It is calculated by subtracting total variable cost from sales.
The contribution margin measures how much of each sale is left after variable costs are deducted, and is used to cover fixed costs and generate operating income.
The contribution margin is an important metric that measures the profitability of a business. It is calculated by subtracting total variable costs (such as cost of goods sold, commissions, and promotional expenses) from total sales.
The contribution margin indicates the amount of each sale that is left after variable costs are deducted, and is used to cover fixed costs (such as rent, insurance, and depreciation) and generate operating income.
Knowing the contribution margin helps businesses assess the performance of their sales strategies and determine whether they are meeting their profit targets. (D)
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Compute the interest accrued on each of the following notes payable owed by Northland, Inc. on December 31:Use 360 days for calculations and round to the nearest dollar.Lender Date of Note Principal Interest Rate (%) TermMaple November 21 $23,000 10% 90daysWynam December 13 19,000 9% 60daysNahn December 19 21,000 12% 120days
In the following question, among the various parts to solve- Interest accrued on each of the following notes payable owed by Northland, Inc. on December 31 is Maple: $575, Wynam: $285 and Nahn: $840 respectively.
The given problem is of calculating the interest accrued on each of the following notes payable owed by Northland, Inc. on December 31. Let's calculate the interest on each note payable as follows:
1. Interest on Maple:Date of Note = November 21, 20XXTerm = 90 days Interest Rate = 10%Principal = $23,000
Calculation of Interest: Interest = (Principal × Interest Rate × Term) / (360)Interest = ($23,000 × 10% × 90) / (360)Interest = $5752.
2. Interest on Wynam: Date of Note = December 13, 20XXTerm = 60 days Interest Rate = 9%Principal = $19,000
Calculation of Interest: Interest = (Principal × Interest Rate × Term) / (360)Interest = ($19,000 × 9% × 60) / (360)Interest = $2853.
3. Interest on Nahn: Date of Note = December 19, 20XXTerm = 120 days Interest Rate = 12%Principal = $21,000Calculation of Interest: Interest = (Principal × Interest Rate × Term) / (360)Interest = ($21,000 × 12% × 120) / (360)Interest = $840
Therefore, Interest accrued on each of the following notes payable owed by Northland, Inc. on December 31 is Maple: $575, Wynam: $285 and Nahn: $840 respectively.
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Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Wildhorse Co., FOB, shipping point, and $24,500 of goods sold to Waterway Industries for $35,000, FOB destination. Both the Wildhorse purchase and the Waterway sale were in transit at year-end. What is the ending inventory
Sheffield Corp. ending inventory, based on physical inventory take on December 31 is $219,500.
Sheffield Corp. took a physical inventory on December 31 and determined that goods costing $208,000 were on hand. Not included in the physical count were $22,000 of goods purchased from Wildhorse Co., FOB, shipping point, and $24,500 of goods sold to Waterway Industries for $35,000, FOB destination.
Both the Wildhorse purchase and the Waterway sale were in transit at year-end.
The ending inventory of Sheffield Corp. can be calculated as follows:
Ending inventory = Physical inventory + Purchase in transit - Sales in transit
In the given case,
Physical inventory = $208,000
Purchase in transit = $22,000
Ending inventory = $208,000 + $22,000 - ($35,000 - $24,500)
Ending inventory = $208,000 + $22,000 - $10,500
Ending inventory = $219,500
Therefore, the ending inventory of Sheffield Corp on December 31. is $219,500.
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CAPM. The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are normally distributed. Suppose a portfolio had an average annual rate of return of 14.7% (i.e an average gain of 14.7%) with a standard deviation of 33%. A return of 0% means the value of the portfolio doesn't change, a negative return means that the portfolio loses money, and a positive return means that the portfolio gains money. What percent of years does the portfolio lose money, i.e. have a return less than 0% What is the cutting for the highest 27% of annual returns with this portfolio?
Capital Asset Pricing Model (CAPM)The Capital Asset Pricing Model (CAPM) is a financial model that assumes returns on a portfolio are normally distributed. To calculate the percentage of years during which the portfolio loses money (i.e., the return is less than 0%), we can use the normal distribution formula.
68% of the data points fall within one standard deviation of the mean in a normally distributed dataset. Therefore, we can calculate the probability of a return of less than 0% by finding the proportion of data points that are one standard deviation below the mean: Return of the portfolio = 14.7%Standard deviation of the portfolio = 33%Probability of a return of less than 0% = P(Return < 0)P(Z < -0.59) = 0.2218, where Z is the standard normal distribution. The answer to the first part of the question is that the portfolio loses money approximately 22.18% of the time. Next, we can use the normal distribution formula to determine the cutoff point for the highest 27% of annual returns. Since we are looking for the highest returns, we will find the z-score that corresponds to the 73rd percentile (i.e., the cutoff point for the highest 27% of returns).
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when considering the decision to refinance a mortgage, the borrower must take into account not only the difference in interest rates, but also the required for refinancing.
When considering the decision to refinance a mortgage, the borrower must take into account not only the difference in interest rates, but also the fees required for refinancing.
Refinancing is the method of replacing an existing mortgage with a new one. Homeowners can do this for various reasons, including obtaining a lower interest rate, shortening the term of their loan, or swapping an adjustable-rate mortgage for a fixed-rate one.
Refinance a mortgageWhen a borrower refinances a mortgage, the main goal is to save money. However, it's critical to consider the fees associated with refinancing to ensure that it's a good financial choice. Closing costs, appraisal fees, and other fees are all part of the refinancing process.
As a result, refinancing a mortgage can cost between 2% and 5% of the total loan amount. As a result, it is critical to determine whether the savings from refinancing will be sufficient to cover the refinancing expenses.
It is important to understand the total costs of refinancing, including closing costs, points, and any other fees associated with the process. Additionally, the borrower should understand the amount of time that it will take to recoup these costs.
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what are the two types of costs associated with inventory?
Carrying expenses (also called Holding costs) Costs of stockouts (also called Shortage costs). Ordering, carrying, and stock out expenses are the three main types of inventory costs. You can better track, manage, and determine the total expenses of your inventory investment.
If you are aware of the many costs that are related to inventory. The cost of money held in inventory is included in direct costs. The cost of capital, or the interest a business pays when borrowing money to pay for inventory, is one factor that differs per organization. It also covers the price of equipment for handling inventory, insurance, special containers used to store inventory, and storage space.
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Which of the following sample planning factors would influence the sample size for a substantive test of details for a specific account? Expected Measure of amount of tolerable misstatements misstatement Group of answer choices a. Expected amount of misstatements b. No Measure of tolerable misstatement c. No Expected amount of misstatements d. Yes Measure of tolerable misstatement e. Yes Expected amount of misstatements f. No Measure of tolerable misstatement g. Yes Expected amount of misstatements h. Yes Measure of tolerable misstatement No
The expected amount and the measure of tolerable misstatement are the two key elements that influence the sample size for a substantive test of details for a specific account. The correct options are (d) and (h).
The sample size for a substantive test of details for a specific account is determined by several factors, including the expected amount of misstatements and the measure of tolerable misstatements. Therefore, the correct options are (d) and (h).
Option (d) states that the measure of tolerable misstatement is significant, which is accurate because the tolerable misstatement is one of the most crucial components that influence the sample size of a substantive test of details for a specific account. The auditor establishes tolerable misstatements to determine the sample size, which means that it is a critical component of sample planning.
Option (h) states that the expected amount of misstatements and the measure of tolerable misstatements are important, which is also accurate because both factors influence the sample size. As previously stated, tolerable misstatement and the expected amount of misstatement are the two key components that influence the sample size of a substantive test of details for a specific account. Therefore, option (h) is correct.
The other options are incorrect because they either do not mention both the expected amount and measure of tolerable misstatement or only mention one of the two factors. Hence, options a, b, c, e, f, and g are incorrect.
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Ace Hardware has a rewards program for loyal customers. After a certain number of purchases, Ace sends a customer a gift card to be used within a two-month period. This example shows that _______.a. CRM thanks all customers for their business with a rewards cardb. consumers are loyal to companies that have rewarded loyalty with a gift cardc. consumers are only loyal to companies that have low pricesd. CRM techniques focus on rewarding all customers
The correct option is option b. Consumers are loyal to companies that have rewarded loyalty with a gift card.
What is CRM? Customer relationship management (CRM) is an approach that businesses use to manage their interactions with clients or customers. A rewards program for loyal customers is one of the ways that companies can use CRM techniques to thank all customers for their business with a rewards card. Additionally, it is a way to promote customer loyalty.
CRM techniques concentrate on rewarding loyal customers. Companies do not focus on rewarding all customers. They focus on the customers who have proven to be loyal over time. For instance, Ace Hardware's reward program is only for loyal customers who have made several purchases from the store.
In conclusion, this example shows that consumers are loyal to companies that have rewarded loyalty with gift cards. By rewarding loyal customers, companies can promote customer loyalty and build strong relationships with their customers.
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