Answer:
The given statement 'In fact,...observable' conveys the idea that it is comparatively convenient and simple to calculate the amount or quantity of goods that are being produced within a firm, territory, or country to determine the economic worth directly. On the other hand, estimating the amount or quantity of goods consumed by the people across a region or country is difficult and can not be observed directly. However, the latter is given more significance and determined more usually through calculating the expenditure made by the consumers depending on their choices and within their income constraints and these are the primary factors that affect the economic growth or development while the production theory lays emphasis on the maximization of profit.
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 60 units at $25 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 158-unit purchase at $28 per unit; the second was a 196-unit purchase at $30 per unit. During the period, it sold 270 chairs.
Required:
Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses
a. FIFO
b. LIFO
c. weighted average
Answer:
a. FIFO - cost of goods sold is $7,484 while ending inventory $4,320
b. LIFO - cost of goods sold is $7,952 while ending inventory $3,852
c. Weighted average - cost of goods sold is $7,698.26 while ending inventory $4,105.74
Explanation:
Considering the first in first out FIFO, Last in first out LIFO and weighted average methods of accounting for inventory. Given that the beginning inventory of chairs was 60 units at $25 per unit.
Given that during the year, two batch purchases were made at 58-unit purchase at $28 per unit; the second was a 196-unit purchase at $30 per unit while 270 chairs were sold.
Using FIFO,
Total number of chairs available for sale before 270 was sold
= 60 + 158 + 196
= 414 chairs
The 60 units at the beginning will be sold first, then the 158 units and the remainder from the 196 units purchased
The cost of the 270 items sold
= 60 * $25 + 158 * $28 + 52 * $30
= $7,484
Ending inventory (remaining from the 196 units purchased last)
= (196 - 52) * $30
= 144 *$30
= $4,320
Using LIFO
The cost of the 270 items sold
= 196 * $30 + 74 * $28
= $7,952
Ending inventory (remaining from the 158 units purchased and the 60 units available from the beginning)
= (60 * $25) + (158 - 74) *$28
= $1500 + $2352
= $3,852
Using weighted average
Weighted average cost of each unit
= (60 * $25 + 158 * $28 + 196 * $30)/(60 + 158 + 196)
= $11804/414
= $28.51207729
If 270 units were sold, cost of goods sold
= 270 * $28.51207729
= $7,698.26
Value of ending inventory
= (414 - 270) * $28.51207729
= $4,105.74
The law of comparative advantage says that a person should produce a good if he or she: Group of answer choices can produce the good at the same cost as another producer can. receives the highest marginal benefit from the good. has an absolute advantage in producing the good. has the lowest opportunity cost of producing the good. has the greatest desire to consume the good.
Answer:
has the lowest opportunity cost of producing the good
Explanation:
Comparative advantage is the capability of the one party in order to manufactured the goods or services at less opportunity cost as compared to the other party. It could be used for overall nations and thier economies
So as per the given situation, the above statement represent an answer
hence, the same is to be considered
How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
Runners Feet, a shoe store, orders one hundred pair of athletic shoes from Speedster Inc. Absent a contrary agreement between the parties, title will pass to Runners Feet when:_________
a. the parties sign the contract.
b. Speedster physically delivers the goods.
c. Runners pays for the goods.
d. the goods exist and are identified.
Answer: Speedster physically delivers the goods.
Explanation:
Since there's no contrary agreement between both Runners Feet and Speedster, then title will pass to Runners Feet when Speedster physically delivers the goods.
It should be noted that ownership of goods and services are transferred when goods are delivered to the customer or the buyer of the goods which is Runners Feet in this case.
If the MPC is 0.75 and there are no crowding-out or accelerator effects, then an initial increase in aggregate demand of $100 billion will eventually shift the aggregate demand curve to the right by a. $125 billion. b. $80 billion. c. $400 billion. d. $500 billion.
Answer:
c. $400 billion
Explanation:
Calculation to determine what an initial increase in aggregate demand of $100 billion will eventually shift the aggregate demand curve to the right
First step is to calculate the GDP Multiplier
Using this formula
GDP Multiplier=1/(1-MPC)
Let plug in the formula
GDP Multiplier=1/1-0.75
GDP Multiplier=1/0.25
GDP Multiplier=4
Now let determine the shift in aggregate demand curve
Shift in aggregate demand curve=4*100 billion
Shift in aggregate demand curve= $400 billion
Therefore an initial increase in aggregate demand of $100 billion will eventually shift the aggregate demand curve to the right by $400 billion
Goods in transit are included in a purchaser's inventory:____.A. If the goods are shipped FOB destination. B. When the supplier is responsible for freight charges. C. When the purchaser is responsible for paying freight charges.D. At any time during transit.E. After the half-way point between the buyer and seller.
Answer:
B. When the supplier is responsible for freight charges.
Explanation:
Goods in Transit can be regarded as merchandise as well as other types of inventory which has already shipped out of shipping dock of the seller, but it has not gotten to the receiving dock of the buyer.This concept is utilized in order to know maybe the buyer or the seller of that particular goods has taken the possession of that particular goods and to know the party that Is paying for transport. The Freight charge, can be regarded as as freight rate, and this is amount that is been paid to a carrier company so that transportation of goods to agreed location will be possible.
It should be noted that Goods in transit are included in a purchaser's inventory When the supplier is responsible for freight charges.
Target is going to reduce its annual dividend by 10 percent a year for the next two years. After that, it will maintain a constant dividend of $2 a share. Last year, the company paid an annual dividend of $3 per share. What is the market value of this stock today if the required return is 13.7 percent
Answer: $15.55
Explanation:
The price of the stock will be the sum of the present values of the dividends and the present value of the terminal value at year 2.
Present value Dividend 1 Present value of Dividend 2
= (3 * (1 - 10%)) / (1 + 13.7%) = (3 * (1 - 10%)²) / (1 + 13.7%)²
= $2.37467 = $1.879686162
Present value of terminal value.
The dividend will be constant forever so this is a perpetuity:
Terminal value = Dividend / Required return
= 2 / 13.7%
= $14.59854
Present value = 14.59854 / (1 + 13.7%)²
= $11.2924582814
Market value = 2.37467 + 1.879686162 + 11.2924582814
= $15.55
For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.
Answer:
d. $84,750.
Explanation:
Calculation to determine what Total selling expenses for the month of February are:
Sales commissions $15,000
($250,000 ×6%)
Sales manager's salary $50,000
Advertising expenses $15,000
Shipping expenses $2,500
($250,000 × 1%)
Miscellaneous selling expense $2,250
[$1,000 + ($250,000 × 0.5%)]
Total selling expenses $84,750
Therefore Total selling expenses for the month of February are:$84,750
Goods that are partially completed by a manufacturer are a.work in process inventory b.materials inventory c.merchandise inventory d.finished goods inventory
Answer:
a. work in process inventory
Explanation:
In Business, an inventory is a term used to describe a list of finished goods, goods still in the production line and raw materials that would be used for the manufacturing of more goods in a bid to meet the unending consumer demands.
Simply stated, an inventory can be classified into three (3) main categories; finished goods, work in progress, and raw materials.
An inventory is recorded as a current asset on the balance sheet because it's primarily the most important source of revenue for a business entity.
Also, the three (3) main cost concept associated with an inventory are;
1. First In First Out (FIFO).
2. Last In First Out (LIFO).
3. Weighted average cost.
Goods that are partially completed by a manufacturer are work in process (WIP) inventory.
At the profit-maximizing level of output, what is the relationship between the total revenue (TR) and total cost (TC) curves? A. They cannot be tangent to each other. B. They must have the same slope. C. They must intersect, with TC cutting TR from above. D. They must intersect, with TC cutting TR from below. E. They must be tangent to each other.
Answer: They must have the same slope.
Explanation:
It should be noted that at the profit-maximizing level of output, the marginal revenue will be equal to the marginal cost.
Since the slope of the total revenue is the marginal revenue while the slope of the total cost us marginal cost, then at the profit-maximizing level of output, the relationship between the total revenue (TR) and total cost (TC) curves is that they must have the same slope.
ưu điểm của mô hình APT so với mô hình capm là gì
If Company A has a lower debt ratio than Company B, then Company A is likely to have __________ than Company B.
a. a higher level of financial risk
b. a greater ability to borrow
c. more total assets
d. less financial flexibility
Answer:
b. a greater ability to borrow
External costs occur because Group of answer choices Private costs do not reflect the full costs to society All costs are absorbed by the firm Firms make a choice other than the most cost-efficient production method Government failure increases costs for the firm
Answer:
Private costs do not reflect the full costs to society
Explanation:
External costs are costs incurred by third parties not involved in production or consumption activities
external cost can either be negative or positive
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced.
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced.
Job analysis is important to HR managers because the information gathered in job analysis is used in so many HR activities/functions. Describe how job analysis information is used in four different HR activities/functions. Illustrate by specific examples in hospitality and tourism.
Answer:
Job analysis in tourism and hospitality include planning, making and providing, lodging recreation and travel related services.
Explanation:
Job analysis is a part of the procedure to identify the contents of the job interms of the acts involved and it provides information to the organization necessary to perform these activities. Procedure involves collecting of information. Being both task and work oriented.Marigold Industries has 8400 equivalent units of production for both materials and for conversion costs. Total manufacturing costs are $123880. Total materials costs are $97000. How much is the conversion cost per unit?a. $12.37. b. $5.10. c. $29.84.d. $17.47.
Answer:
Wow that’s a lot of numbers hold up
Explanation:
The benefit the goverment receives from tax can be measured by
Answer:
the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
Explanation:
The benefit that government receives from a tax is measured by a. b. c. d. the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
The revenue or benefits received from tax by the government of a Country can be measured by using the Tax-to-GDP ratio.
The Tax-to-GDP ratio provides an in-depth knowledge of the revenues generated from tax by the nation as it relates to the economy.
This ratio helps to pinpoint the benefits from taxation with relation to the size of the nations economy. for instance, if their is higher revenue from tax, it means that the Country can spend more money healthcare, education or infrastructure.
Hence, the Tax-to-GDP ratio, measures the benefit from tax in a nation, and a higher tax revenue of a nations gross domestic product (GDP) signifies economic growth.
You can get more insight about taxes here https://brainly.com/question/15090055?referrer=searchResults
Gross pay is: Multiple Choice Deductions withheld by an employer. Salaries after taxes are deducted. Total compensation earned by an employee before any deductions. Take-home pay. The amount of the paycheck.
Answer:
Total compensation earned by an employee before any deductions.
Explanation:
Gross pay is the total compensation earned by an employee before any deductions.
Net pay is the compensation after taxes and other deductions are removed
Evaluate each of the following transactions in terms of their effect on assets, liabilities, and equity.
1. Borrow $55,000 from a bank
2. Buy $14,000 worth of manufacturing supplies on credit
3. Pay $7,000 owed to a supplier
4. Receive payment of $12,000 owed by a customer
5. Issue $75,000 in stock
6. Purchase equipment for $44,000 in cash
7. Receive payment of $13,000 owed by a customer
What is the net change in Total Assets?
Answer:
1. Borrow $55,000 from a bank
Assets increase by $55,000Liabilities increase by $55,000No effect on equity2. Buy $14,000 worth of manufacturing supplies on credit
Assets increase by $14,000Liabilities increase by $14,000No effect on equity
3. Pay $7,000 owed to a supplier
Assets decrease by $7,000Liabilities decrease by $7,000No effect on equity
4. Receive payment of $12,000 owed by a customer
No effect on assetNo effect on liabilityNo effect on equity
5. Issue $75,000 in stock
Assets increase by $75,000No effect on liability Equity increases by $75,0006. Purchase equipment for $44,000 in cash
No effect on assetNo effect on liabilityNo effect on equity7. Receive payment of $13,000 owed by a customer
No effect on assetNo effect on liabilityNo effect on equityNet change in assets = 55,000 + 14,000 - 7,000 + 75,000
= $137,000
Assets increased by $137,000
A machine with a cost of $100,000 has an estimated residual value of $8,000 and an estimated life of 7 years or 21,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method
Answer:
$20,408.16
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/7
1st year= 2/7 x 100,000 = 28,571.43
book value = 100,000 - 28,571.43 = 71,428.57
2nd year = 2/7 x 71,428.57 = $20,408.16
1. As more people in India have access to higher education, explain
how potential GDP and aggregate supply will change in the long
run.
Answer:
As more people in India have access to higher education, the country's economic growth potential, both in its GDP per capita and in its aggregate demand, will increase.
This is so because the higher the levels of education, the greater the added value that each person introduces into their economic production, with which the country's GDP is in turn increased.
On the other hand, this same economic growth generates a greater availability of wealth for society, with which the greater the availability of money, the greater the demand for goods and services that will be produced in that country.
What is finance? The study of a business's past financial decisions The study of how to allocate assets to maximize returns The process of communicating financial information about a business The social science that analyzes the production, distribution and consumption of goods and services
Answer: The study of how to allocate assets to maximize returns
Explanation:
Finance refers to the study of how to allocate assets to maximize returns. Finance refers to the study, management, and creation of money and investments.
Finance simply explains how economic agents such as the individual, company or government gets money and how such money is being used.
At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player at full capacity that normally sells for $45. A foreign wholesaler offers to buy 3,000 units at $25 each. Bargain Electronics will incur special shipping costs of $3 per unit. Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order.
Answer:
Bargain Electronics
Bargain Electronics would realize a net income of $6,000 by accepting the special order.
Explanation:
a) data and Calculations:
Production costs of MP3 Player:
Variable cost = $20
Fixed cost = $10
Total costs = $30
Selling price = $45
Special order from a foreign wholesaler = 3,000 units
Special order selling price = $25 per unit
Additional special shipping costs per unit = $3
Variable production costs = $20
Total costs for the special order = $23 ($3 + $20)
Net income from special order = $6,000 ($2 * 3,000)
Which of the following investment choices is least risky?
A. Flipping
B. CDs
C. Government Bonds
D. Renting
Answer:
CDs is the least risky, as it is issued by the bank and endorsed by the government
Black, Inc., acquired another company for $5,000,000. The fair value of all identifiable tangible and intangible assets was $4,500,000. Black will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition
Answer:
The correct answer is "Zero (0)".
Explanation:
An applies specifically asset which is responsible for a different corporation's or business's extra purchasing amount, is considered as Goodwill.Goodwill commodities are confidential, intellectual properties or copyright and trademark awareness that aren't commonly produced. Therefore it isn't amortized.Thus, the above is the appropriate solution.
Income statement dataSales 6,900Cost of goods sold 6,100Balance sheet dataInventory 680Accounts receivable 300Accounts payable 460Calculate the accounts receivable period accounts payable period, inventory period and cash conversion cycle for the above firm. Use 365 days in a year, do not round intermediate calculations. Round your answers to 1 decimal placea. accounts receivable period _____daysb. account payable period _____daysc. inventory period _____daysd. cash conversion cycle __
Answer:
a. Accounts receivables period = 365 / (Credit sales/Average accounts receivables)
Accounts receivables period = 365 / (6900/300)
Accounts receivables period = 365 / 23
Accounts receivables period = 15.9 days
b. Accounts payable period = (365/(Cost of goods sold/Accounts payable)
Accounts payable period = 365 / (6100/460)
Accounts payable period = 365 / 13.26
Accounts payable period = 27.5 days
c. Inventory period = 365 / (Cost of goods sold/Inventory)
Inventory period = 365 / (6100/680)
Inventory period = 365 / 8.97
Inventory period = 40.7 days
d. Cash conversion cycle = Accounts receivables periods + Inventory period - Accounts payable periods
Cash conversion cycle = 40.7 + 15.9 - 27.5
Cash conversion cycle = 29.1 days
Suppose a bank has $400 million in deposits and $25 million in required reserves, and it is holding no excess reserves. What is the required reserve ratio?
Answer:
the required reserve ratio is 6.25%
Explanation:
The calculation of the required reserve ratio is given below:
Required reserve ratio is
= required reserves ÷ deposits
= $25 ÷ $400
= 0.0625
= 6.25%
Hence, the required reserve ratio is 6.25%
The same is to be relevant and considered too
You have just won the Georgia Lottery with a jackpot of $17,000,000. Your winnings will be paid to you in 26 equal annual installments with the first payment made immediately. If you had the money now, you could invest it in an account with a quoted annual interest rate of 10% with monthly compounding of interest. What is the present value of the stream of payments you will receive
Answer:
Georgia Lottery
The present value of the stream of payments that you will receive is:
= $3,680,268
Explanation:
a) Data and Calculations:
Jackpot won = $17,000,000
Annual installments = 26 years
First payment is made immediately.
Interest rate per annum = 10%
N (# of periods) 26
I/Y (Interest per year) 10
PV (Present Value) 0
FV (Future Value) 17000000
Results
PMT = $141,548.78
Sum of all periodic payments = $3,680,268.22
Total Interest = $13,319,731.78
The present value of the stream of payments equals the PV of annual payments received multiplied by 26.
Mary incurred a $20,000 nonbusiness bad debt last year. She also had an $18,000 long-term capital gain last year. Her taxable income for last year was $25,000. During the current year, she unexpectedly collected $12,000 on the debt. How should Mary account for the collection
Answer: $12000 income.
Explanation:
It should be noted that non business bad debts are regarded as short term capital loss. In the question given, the $18000 long-term capital gain will have to be offset against the bad debt of $20000.
In this case, the tax benefit will be $18000, therefore $12000 will be recognized as the income.
g n a process cost system, 108,000 units of a product are assembled in Department F with total product cost (DM, DL, and FO) $90,000. The same 108,000 units are then painted in Department G. Department G painting product cost is $64,000. After painting in Department G, the 108,000 units are inspected in Department H, adding additional product cost $26,000. After inspection, the same 108,000 units are complete, and their cost is transferred to Finished Goods Inventory. a) Prepare the journal entry for the transfer of product cost from Department F to Dept. G.
Answer:
Journal Entry
Debit Department G Work in Process $90,000
Credit Department F Work in Process $90,000
To record the transfer of product cost from Department F to Department G.
Explanation:
a) Data and Calculations:
Number of units assembled in Department F = 108,000
Total product cost (DM, DL, and FO) = $90,000
Additional inspection cost in Department H = $26,000
Total product cost = $116,000 ($90,000 + $26,000)
Transfer of product cost from Department F to Department G:
Department G Work in Process $90,000
Department F Work in Process $90,000
The purposeful use of symbols to allow multiple interpretations of messages is called:____.
a. strategic ambiguity.
b. crisis communication.
c. interaction management.
d. conflict management.
e. customer service management.
Answer:
a. strategic ambiguity.
Explanation:
The use of strategic ambiguity permits the views for diversify or interpretations also at the same time it promotes inclusiveness and unity
The mission and vision sttaement should be confused and normal in nature in order to provide the accomodation
So the use of symbols for permitting out the multiple interpretations of messages is known as the strategic ambiguity
Therefore the option a is correct
