Answer:
Market : Gasoline
b. Standardized good
c. Full information
e. Participants are price takers.
Market : Barbershop haircuts
a. Large number of buyers
c. Full information
Market : Bicycles
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
Explanation:
The three markets will have different characteristics which will cause the competition. The Gasoline market has standardized product and the customers are price takers. Usually the prices are fixed for the products and there is no bargaining.
Suppose that hiring a third worker at the campus coffee shop increases sales from $115 per hour to $130 per hour. What is the marginal product of labor per hour from adding that third worker
Answer: $15 per hour
Explanation:
The marginal product of labor in this instance is the increase in total sales as a result of one additional worker being hired:
= Change in sales/ change in number of workers
= (130 - 115) / 1
= 15/1
= $15 per hour
A company purchases 50 units of inventory for $3.50 on January 5 and 35 units for $3.00 on January 25. It sells a total of 65 units on January 31. If the company is following the FIFO method of inventory costing, what is the total cost of the inventory sold?
Answer:
COGS= $220
Explanation:
Giving the following information:
A company purchases 50 units of inventory for $3.50 on January 5 and 35 units for $3.00 on January 25.
Number of units sold= 65
First, we need to calculate the number of units in ending inventory:
Ending inventory in units= (50 + 35) - 65= 20
Now, under the FIFO (first-in, first-out) method, the cost of goods sold is calculated using the cost of the firsts units incorporated into inventory:
COGS= 50*3.5 + 15*3
COGS= $220
1. ______ are costs that do not require a monetary payment
A) Accounting costs
B) Explicit costs
C) All opportunity costs
D) Implicit costs
2. Joe runs a restaurant. He pays his employees $200,000 per year. His ingredients cost him $50,000 per year. Prior to running his restaurant, Joe was a lawyer earning $150,000 per year. What would economists say is Joe’s cost of running the restaurant?
A) $150,000
B) $200,000
C) $250,000
D) $400,000
1. The cost that does not need a monetary payment is the implicit cost.
2. The cost of running the restaurant is $400,000.
1.
Implicit cost is normally:
The opportunity cost that occurred at the time when the company used the resources i.e. owned for the production without considering any payment regarding the resources.Here monetary payment should not be involved.Therefore rest of the given costs should involve monetary payments.
2. The cost of running the restaurant is as follows:
= Employee payment + ingredients cost + lawyer earnings
= $200,000 + $50,000 + $150,000
= $400,000
Therefore we can conclude that
1. The cost that does not need a monetary payment is the implicit cost.
2. The cost of running the restaurant is $400,000.
Learn more about the opportunity cost here: brainly.com/question/13036997
Seth's Tax Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances.
Prepare the adjusted trial balance for Seth's Tax Services as of December 31, 2018.
Cash $ ?
Land 26,000
Utilities Payable 150
Accounts Payable 3,700
Accumulated Depreciation—Equipment 1,800
Service Revenue 75,000
Supplies Expense 1,100
Dividends14,000
Equipment $11,000
Accounts Receivable 4,950
Office Supplies 700
Common Stock 22,600
Utilities Expense 1,650
Unearned Revenue 900
Depreciation Expense—Equipment 1,900
Salaries Expense 5,600
Answer and Explanation:
The preparation of the trial balance is presented below:
Particulars Debit Credit
Cash 37250
Accounts Receivable 4950
Office Supplies 700
Equipment 11000
Accumulated
Depreciation - Equipment 1800
Land 26000
Accounts Payable 3700
Utilities Payable 150
Unearned Revenue 900
Common Stock 22600
Dividends 14000
Service Revenue 75000
Salaries Expense 5600
Depreciation
Expense - Equipment 1900
Supplies Expense 1100
Utilities Expense 1650
Total 104150 104150
TCost-908 Car Mechanic Inc. uses a job-order costing system. The company applies all of its overhead costs to jobs using a predetermined overhead rate based on direct labor-hours. At the beginning of the year, it made the following estimates: Direct labor-hours required to support estimated output 22,000 Fixed overhead cost $ 253,000 Variable overhead cost per direct labor-hour $ 1.00 During the year, a customer brought in her car for repairs. The following information was available with respect to the car's repairs: Direct materials $ 703 Direct labor cost $ 317 Direct labor-hours used 8 If TCost-908 sets its selling prices by adding a markup percentage of 40% of its total job cost, then how much would the company have charged this customer for her car's repairs?
Solution :
1. Predetermined overhead rate
Fixed [tex]\text{overhead cost}[/tex] (253,000 / 22,000) = $ 11.5
Variable [tex]\text{overhead cost}[/tex] per direct labor-hour = $ 1
Predetermined overhead rate = $12.5
2. Total job cost $
Direct materials 703
Direct labor cost 317
Applied overhead (8 hours x $12.5 per direct labor hour) = 100
Total job cost = $ 1120
3. Charges = $ 1120 x 140%
= $1568
Freddie's Food Service uses QuickBooks Desktop. They do not track or sell inventory. They have regular customers that they want to invoice automatically on a weekly basis. They would like to review a Sales by Customer by Month report regularly. The company currently pays their vendors in QuickBooks Desktop using the online bill pay service, QuickBooks Bill Pay. After converting to QuickBooks Online, which 3 setup and customization steps are appropriate for this client? Customize reports Turn off multicurrency Rebuild data Review recurring transactions Set up initial quantity on hand and cost for each product Set up and implement an online bill pay service
Answer:
Customize reports
Review recurring transactions
Set up and implement an online bill pay service
Explanation:
Considering the situation described above, after converting to QuickBooks Online, the 3 setup and customization steps that are appropriate for this client are the following:
1. Customize reports: this includes forms and reports and, if possible to memorize reports.
2. Review recurring transactions: this is to restore desktop QuickBooks memorized transactions.
3. Set up and implement an online bill pay service: this is done either through Intuit Online Payroll or QBOP.
our Company will open a new store on January 1. Based on experience from its other retail outlets, Entertainment Inc. is making the following sales predictions: Cash Sales Credit Sales January $80,000 $160,000 February $50,000 $170,000 March $60,000 $190,000 April $50,000 $210,000 You estimate that the pattern of collection of credit sales will be 45% in the month of sale and 40% in the month following the sale; 8% in the third month, the remaining 7% is uncollectable. Based on this data calculate the estimated total cash collections for March
Answer:
Entertainment Inc.
The estimated total cash collections for March are:
= $226,300.
Explanation:
a) Data and Calculations:
Cash Sales Credit Sales
January $80,000 $160,000
February $50,000 $170,000
March $60,000 $190,000
April $50,000 $210,000
January February March April
Credit Sales $160,000 $170,000 $190,000 $210,000
Cash collections:
45% sales month $72,000 $76,500 $85,500 $94,500
40% ffg sales 64,000 68,000 76,000
8% third month 12,800 13,600
7% uncollectible
Total cash collections for March $166,300
Cash sales 80,000 50,000 60,000 50,000
Total cash collected for March $226,300
If the United States passed a tariff on imported steel which of the following would directly benefit?
A. Foreign steal companies
B. All Americans would benefit because of the lower price for steel
C. Businesses which imports steel
D. American steel producers
businesses which imports steel C
Pricing strategy varies significantly across different market structures.
a. True
b. False
Answer:
the answer is yes or true
Explanation:
you can understand it by Pricing strategy is the overarching approach used to set pricing for a company's products and services. It doesn't define actual price points, but the pricing structure is a consequence of the strategy, and it's where you set the price customers see
The residual income valuation model is a rigorous and straightforward valuation approach, but the analyst should be aware of all of the following implementation issues that will hinder its ability to measure firm value correctly except: _________
a. common stock transactions
b. portions of net income attributable to equity claimants other than common shareholders
c. dirty surplus accounting items
d. positive book value of equity
Answer:
d. positive book value of equity
Explanation:
The residual income valuation model is the valuation approach that could have the issues when it is implemented that can create difficulties for measuring the firm value in an accurate way for transactions done for common stock, net income portion for equity other than common stock,, and dirty surplus for an accounting items but not for the positive equity book value as it does not create the difficulties
Your company buys a computer system for $3 million and pays the vendor $200,000 to install the computer system. Your company should record: A. $3.2 million as expenses. B. $2.8 million as equipment and the rest as expenses. C. $3.2 million as equipment. D. $3 million as equipment and $200,000 as expenses.
Answer:
Your company should record:
C. $3.2 million as equipment.
Explanation:
a) Data and Calculations:
Cost of computer system = $3 million
Installation cost = $200,000
Total equipment cost = $3.2 million
b) The cost of installation, which helps to bring the computer system into its intended use, forms part of the equipment cost. Therefore, to record the asset in the books of the company, the sum of $3.2 million will be recorded as equipment. There are no expenses for the equipment at this time.
2.- Se hicieron compras de materia prima por $ 50,000.00 más IVA que se pagaron como sigue:
20% en efectivo; 30% quedamos a deber, y el resto con una transferencia bancaria, según Factura ZX87.
10.- Vendemos como fierro viejo algunos lockers de los empleados que ya estaban sin servir, y nos pagan con cheque que depositamos en el banco, la cantidad de $ 3,000 IVA INCLUIDO. Al mismo tiempo tenemos que reparar uno de los lockers nuevos pues la chapa se echó a perder, el cerrajero nos cobra $300 MÁS IVA que pagamos en efectivo
Alguien me dice como van en un libro diario por favor
no entendi nadita pero que larga tu prwgunta
Kanye Company is evaluating the purchase of a rebuilt spot-welding machine to be used in the manufacture of a new product. The machine will cost $178,000, has an estimated useful life of 7 years, a salvage value of zero, and will increase net annual cash flows by $36,562.
What is its approximate internal rate of return? (Round answer to 0 decimal place, e.g. 13%.)
Internal rate of return
Answer: 10%
Explanation:
You can use Excel to solve for this.
The investment will be in negative as shown below.
Input the increase in net annual cash flows 7 times to represent 7 years.
IRR = 9.9999%
= 10%
Team Sports has 4.9 million shares of common stock outstanding, 2.9 million shares of preferred stock outstanding, and 29 thousand bonds. If the common shares are selling for $3.90 per share, the preferred share are selling for $15.9 per share, and the bonds are selling for 98.91 percent of par, what would be the weight used for common stock in the computation of Team's WACC
Answer:
The weight used for common stock in the computation of Team's WACC is 20.35%.
Explanation:
Since par value of a bond is $1,000, we have:
Bond selling price = Bond par value * Selling price percentage = $1,000 * 98.91% = $989.10
the weight used for common stock in the computation of Team's WACC can be calculated as follows:
Value of common stock = Number of shares of common stock outstanding * Common stock price per share = 4,900,000 * $3.90 = $19,110,000
Value of preferred stock = Number of shares of preferred stock outstanding * Preferred stock price per share = 2,900,000 * $15.9 = $46,110,000
Value of bond = Number of bonds * Bond selling price = 29,000 * $989.10 = $28,683,900
Team's total value = Value of common stock + Value of preferred stock + Value of bond = $19,110,000 + $46,110,000 + $28,683,900 = $93,903,900
Therefore, we have:
Weight of common stock = Value of common stock / Team's total value = $19,110,000 / $93,903,900 = 0.2035, or 20.35%
Therefore, the weight used for common stock in the computation of Team's WACC is 20.35%.
Jordan took a business trip from New York to Denver. She spent two days in travel, conducted business for nine days, and visited friends for five days. She incurred the following expenses:
Airfare $ 520
Lodging 3,200
Meals 800
Entertainment of clients 640
How much of these expenses can Jordan deduct?
The expenses that Jordan can deduct is $3,731.
This is the amount that she can deduct as business expenses for this trip from New York to Denver.
Data and Calculations:
Expenses incurred on the trip for both business and private purposes:
Lodging 3,200
Meals 800
Total $4,000
Travel days = 2 days
Business days = 9 days
Visiting friends = 5 days
Total days spent conducting business and visiting friends = 14 days
Business portion of the above expenses = 9/14
Amount to be deducted as business expenses is calculated as follows:
Portion of the above total expense = $2,571 ($4,000 ( 9/14)
Airfare 520
Entertainment of clients = 640
Total amount that Jordan can deduct = $3,731
Thus, Jordan can deduct $3,731 of her expenses for the business trip.
Learn more about deductible business trip expenses here: https://brainly.com/question/15127637
Annual interest rate 4.00%
Loan Amount 4923275
Years 7
Grace Period 2 Years
Loan Period 5 Years
Total 7 Years
Project 1.5 years (development or initial investment period)
further 10 years of operation (life of the project)
Repayable in 5 equal installments.
I need figures for interest expense, interest paid, and principal repayment. Anyone can help me?
Answer:
formula is PRT÷10
Explanation:
so solve it
In the two-country model of international labor mobility:________
A) the long-run equilibrium assumes countries' policies place significant restrictions on migration.
B) the long-run equilibrium assumes that desired migration exceeds actual migration.
C) the long-run equilibrium assumes that actual migration exceeds desired migration.
D) the long-run equilibrium is the result of a divergence of the real wages in the two countries.
E) the long-run equilibrium assumes that desired and actual migration are equal.
Marketing strategy of strepsils company
Answer:
InstallCourses
SWOT ANALYSIS ›FMCG ›
Strepsils SWOT Analysis, Competitors, STP & USP
Published by MBA Skool Team, Last Updated: April 20, 2020
SWOT analysis of Strepsils analyses the brand by its strengths, weaknesses, opportunities & threats. In Strepsils SWOT Analysis, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Strepsils to benchmark its business & performance as compared to the competitors. Strepsils is one of the leading brands in the FMCG sector.
The table below lists the Strepsils SWOT (Strengths, Weaknesses, Opportunities, Threats), top Strepsils competitors and includes its target market, segmentation, positioning & Unique Selling Proposition (USP).
Which of the following are wholesale and which are retail?
(a ) large-scale deposites made by Firms at negotiated rates of in interest. ...........(retail to wholesales)
(b) Loans made by high Street banks at published rates of interest........ (retail (wholesales)
(c) Deposite in savings accounts high street banks .................(retail /wholesales)
(d) Deposite in savings accounts in building Societies ............. (retail/Wholesale)
(e) Large-scale loans to industry syndicated through several banks........... (retail/ Wholesale)
E=whole sale
B=retail
D=retail
A=whole sale
C=whole sale
Exercise 6-1B Calculate cost of goods sold (LO6-2) A company begins the year with inventory of $53,000 and ends the year with inventory of $43,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 $ 208,000 Purchase on May 6 128,000 Purchase on September 8 158,000 Purchase on December 4 408,000 Required: Calculate cost of goods sold for the year.
Answer: $912,000
Explanation:
The cost of goods sold for the year will be:
Beginning inventory = $53,000
Add: Purchases = ($208,000 + $128,000 + $158,000 + $408,000) = $902,000
Cost of goods available for sale = $955,000
Less: Ending inventory = ($43,000)
Cost of goods sold = $912,000
What is the IRR, assuming an industrial building can be purchased for $250,000 and is expected to yield cash flows of $18,000 for each of the next five years and be sold at the end of the fifth year for $280,000
Answer:
9.2%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
Cash flow in year 0 = $-250,000
Cash flow in year 1 = $18,000
Cash flow in year 2 = $18,000
Cash flow in year 3 = $18,000
Cash flow in year 4 = $18,000
Cash flow in year 5 = $18,000 + $280,000
IRR = 9.2%
To determine IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
Elbert uses FedEx in a scheme to defraud Global Sales Company by obtaining merchandise to which he is not entitled. Found guilty of mail fraud, Elbert can be punished by
Answer: None of the choices.
Explanation:
The options to the question are:
a. imprisonment for up to fifty years.
b. imprisonment for up to twenty years and/or fines.
c. fines up to $5 million.
d. none of the choices
Based on the questions asked, the options provided aren't correct. It should be noted that Elbert can be punished by imprisonment in this case for a period of your to about five years as well as a fine of up to $1000.
Brad operates a hardware store. He maintains the books using the cash method. At the end of the year, his accountant computes his accrual basis income that is used on his tax return. For 2018, Brad had cash receipts of $2,200,000, which included $750,000 collected on accounts receivable from 2017 sales. At the end of 2018, he had $910,000 in accounts receivable from customers, all from 2018 sales. Brad paid cash for all of the purchases. The total amount he paid for merchandise in 2018 was $1,100,000. At the end of 2017, he had merchandise on hand with a cost of $165,000. At the end of 2018, the cost of merchandise on hand was $140,000.
a. Brad's accrual basis gross receipts for 2018 are: __________
b. The cost of goods sold for 2018 under the accrual method is: ____________
c. The gross profit from merchandise sales for 2018 under the accrual basis is:__________
Answer:
Brad Hardware Stores
a. Brad's accrual basis gross receipts for 2018 are: __________
= $1,450,000.
b. The cost of goods sold for 2018 under the accrual method is: ____________
= $1,125,000.
c. The gross profit from merchandise sales for 2018 under the accrual basis is:__________
= $1,235,000.
Explanation:
a) Data and Calculations:
Sales revenue for 2018:
Cash receipts = $2,200,000
Less 2017 accounts receivable $750,000
Add 2018 accounts receivable $910,000
Sales revenue for 2018 = $2,360,000
Gross receipts for 2018:
Cash receipts = $2,200,000
Less 2017 accounts receivable $750,000
Gross cash receipts = $1,450,000
Purchases for 2018 = $1,100,000
Beginning inventory = $165,000
Ending inventory = $140,000
Cost of goods sold = $1,125,000
Accrual Basis:
Sales revenue for 2018 = $2,360,000
Cost of goods sold = 1,125,000
Gross profit $1,235,000
There is no relationship between the level of education received and lifetime earnings.
Answer: False
Explanation:
There is a relationship between the level of education that a person receives and the lifetime earnings. It should be noted that the more education that a person receives, the higher the lifetime earnings of such person will be.
For example, someone who has a doctorate degree is expected to have a higher lifetime earnings than someone who has a high school degree.
Therefore, based on the explanation given, the statement is false.
price elasticity of demand
Answer:
Price elasticity of demand is a measure of the change in the quantity purchased of a product in relation to a change in its price.
Explanation:
Plant assets sometimes are purchased as a group in a single transaction for a lump-sum price. This transaction is called a __________, or group, bulk, or basket purchase.
Answer:
Lump-Sum Purchase
Explanation:
Plant assets
This is simply known as well founded or important assets of an essential or useful life of more than one accounting period and are normally used in the operation of a business. One of the major characteristic of plant assets is that they are often used in operations.
They are known also as resources that has physical substance, used mainly in the operations of a business and it is not intended for sale to customers.
Plant assets are also called property, plant, equipment; plant and equipment; and fixed assets.
It is also discard (done away with) if it is not useful anymore to the company, and it has no market value.
Assume that, on January 1, 2021, Sosa Enterprises paid $2,140,000 for its investment in 33,000 shares of Orioles Co. Further, assume that Orioles has 110,000 total shares of stock issued and estimates an eight-year remaining useful life and straight-line depreciation with no residual value for its depreciable assets. At January 1, 2021, the book value of Orioles' identifiable net assets was $7,160,000, and the fair value of Orioles was $10,000,000. The difference between Orioles' fair value and the book value of its identifiable net assets is attributable to $1,900,000 of land and the remainder to depreciable assets. Goodwill was not part of this transaction. The following information pertains to Orioles during 2021: Net Income $ 400,000 Dividends declared and paid $ 240,000 Market price of common stock on 12/31/2021 $ 80 /share What amount would Sosa Enterprises report in its year-end 2021 balance sheet for its investment in Orioles Co.
Answer:
$2,152,750
Explanation:
Calculation to determine What amount would Sosa Enterprises report in its year-end 2021 balance sheet for its investment in Orioles Co.
Acquisition price for 30% share $2,140,000
($33,000 / $110,000 * 100=30%)
Add: Net income $120,000
($ 400,000 * 30%)
Less: Dividend ($72,000)
($240,000 * 30%)
Less: Excess depreciation ($35,250)
($940,000 / 8 yrs*30%)
[$10,000,000-$7,160,000-$1,900,000)=$940,000]
Investment reported in Balance $2,152,750
Therefore the amount that Sosa Enterprises would report in its year-end 2021 balance sheet for its investment in Orioles Co is $2,152,750
what is reductionasim
Answer:
Thus, the ideas that physical bodies are collections of atoms or that a given mental state (e.g., one person's belief that snow is white) is identical to a particular physical state (the firing of certain neurons in that person's brain) are examples of reductionism.
Explanation:
A list of financial statement items for Oriole Company includes the following: accounts receivable $17,500; prepaid insurance $3,250; cash $13,000; supplies $4,750; and debt investments (short-term) $10,250.
Required:
Prepare the current assets section of the balance sheet listing the items in the proper sequence.
Answer:
$48,750
Explanation:
Preparation of the current assets section of the balance sheet listing the items in the proper sequence
ORIOLE COMPANY Partial Balance Sheet Current assets
Cash $13,000
Debt investments $10,250
Accounts receivable $17,500
Supplies $4,750
Prepaid insurance $3,250
Total current assets $48,750
Therefore the current assets section of the balance sheet listing the items in the proper sequence is $48,750
Macrozine Inc. provides support for employees faced with ethical dilemmas. An ethics compliance officer is available in the Human Resources office or through an employee hotline. This is an example of ethical:_________
a. reasoning
b. awareness
c. whistle-blowing
d. action
Answer:
d. action
Explanation:
In Business, this would be an example of ethical action. These are actions that companies take in order to prove that they are committed to their employees. Especially making sure that they are safe, respected, and mentally/emotionally good within the work environment. By providing such services such as an employee hotline and a HR department they are providing resources for the employees to voice their concerns and needs in case of any dilemma in the company.
