Answer:
Explanation:
insurance
According to your reading material, insurance Is an important factor when looking at your market and its needs. Option C is the correct answer.
While factors like location, capital, and timing are important considerations, insurance is also a crucial factor to take into account when assessing your market and its needs. Insurance provides protection and risk management for your business, its assets, and potential liabilities. Option C is the correct answer.
Having appropriate insurance coverage helps safeguard your business against unexpected events, such as accidents, property damage, legal claims, or disruptions to operations. It provides financial protection and peace of mind, allowing you to focus on meeting your market's needs without the constant worry of potential losses. Insurance coverage can vary depending on the nature of your business and industry. Common types of insurance include general liability insurance, property insurance, professional liability insurance, and workers' compensation insurance.
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The complete question is, " According to your reading material, ______ Is an important factor when looking at your market and its needs.
a. location
b. capital
c. insurance
d. timing"
The price of lemonade is $1.50; the price of popcorn is $0.75. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be: Group of answer choices 1/2 lemonade for each popcorn. indeterminate unless more information on Fred's marginal utilities is provided. 2 lemonades for each popcorn. none of these options is correct
Answer: 1/2 lemonade for each popcorn
Explanation:
Price of lemonade = $1.50
Price of popcorn = $0.75
Let good 1 = popcorn
Let good 2 = lemonade
MRS = MU1/MU2 = P1/P2
= 0.75/1.50
= 1/2
Therefore, the marginal rate of substitution will be 1/2 lemonade for each popcorn.
Therefore, the correct option is A.
During its first year of operations, the McCormick Company incurred the following manufacturing costs: Direct materials, $4 per unit, Direct labor, $2 per unit, Variable overhead, $3 per unit, and Fixed overhead, $160,000. The company produced 20,000 units, and sold 15,000 units, leaving 5,000 units in inventory at year-end. What is the value of ending inventory under absorption costing
Answer: $85,000
Explanation:
Find out the cost of per unit of inventory under absorption costing:
= Direct materials + Direct labor + Variable overhead + Fixed overhead per unit
= 4 + 2 + 3 + 160,000 / 20,000 units
= 4 + 2 + 3 + 8
= $17 per unit
If 5,000 units are left, the value of those units are:
= 5,000 * 17
= $85,000
TB MC Qu. 08-152 Minor Company installs a machine... Minor Company installs a machine in its factory at the beginning of the year at a cost of $135,000. The machine's useful life is estimated to be 5 years, or 300,000 units of product, with a $15,000 salvage value. During its first year, the machine produces 64,500 units of product. Determine the machines' first year depreciation under the double-declining-balance method.
Answer:
The correct answer is "$54000".
Explanation:
According to the question,
Annual depreciation rate will be:
= [tex]\frac{100 \ percent}{5}[/tex]
= [tex]20[/tex] (%)
hence,
The depreciation as per double decline will be:
= [tex]2\times Annual \ depreciation \ rate\times Beginning \ value[/tex]
By putting the values, we get
= [tex]2\times 20 \ percent\times 135000[/tex]
= [tex]54000[/tex] ($)
Andrews Corporation has income from operations of $240,000. In addition, it received interest income of $24,000 and received dividend income of $29,500 from another corporation. Finally, it paid $11,800 of interest income to its bondholders and paid $45,000 of dividends to its common stockholders. The firm's federal tax rate is 21%. What is the firm's federal income tax
Answer: $54,820.50
Explanation:
Federal income tax = Taxable income * tax rate
Taxable income = Income from operations + Interest income received + Dividend income received - Interest income paid
= 240,000 + 24,000 + (30% * 29,500) - 11,800
= $261,050
Federal income tax = 261,050 * 21%
= $54,820.50
Note: Only 30% of Dividends received are taxable
Zephyr Inc. sells wind based systems for generating electricity. The company pays no dividends, but you estimate the stock will be worth $50 per share 5 years from now and you require a 15% rate of return for stock investments of this type. What price should you be willing to pay for this stock?A) $12.50.
B) $24.86.
C) $43.48.
D) $57.50.
Answer:
$24.86
Explanation:
The estimated stock of Zephyrl is $50
This is for a period of 5 years
The rate of return is 15%
Therefore the price that will be paid for this stock can be calculated as foloes
50= x (15/100^5)
50= x (0.15+1^5)
50= x (1.15^5)
50= 2.0113x
Divide both sides by the coefficient of x
= 50/2.0113
= 24.86
Hence the price that will be paid for the stock is $24.86
Define ethics and law and show how they are different and similar.
Answer: The law sets minimum standards of behavior while ethics set maximum standards. Laws are created and enforced by governments based on society's ethics to mediate our relationships with each other and to protect their citizens.
Question 4
Which of the following is an example of an asset?
A. Repairs and Maintenance
B. Accounts Receivable
C. Accounts Payable
D. GST Collected
Answer:
Accounts Receivable
Explanation:
A is an expense, C and D are liabilities
What are targets for a business to achieve?
A. Objectives
B. Smart goals
C. Social enterprises
D. Profits
Inflation is noted as having a correlation with positive economic growth. People can receive a better education and do which of the following with a small level of inflation?
Answer:
increase their income
Explanation:
g If there is a breach of contract, the objective of the remedy in the breach contract case will be to: Question 21 options: place the parties back into the position that they would have been in had there been no contract punish the party that committed breach of contract provide both parties relief place the non breaching party into the position that they would have been had the contract not been breached
Answer: place the non breaching party into the position that they would have been had the contract not been breached
Explanation:
A contract is meant to satisfy the reasons for which the contract was gone into for both parties. If one party breaches the contract, the party that did not breach should still have their reason for entering the contract satisfied because they did what they were supposed to do according to the contract.
This is why the purpose of a breach of contract remedy is to ensure that this non-breaching party does indeed get what was supposed to come to them by the contract.
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials $ 33,000 $ 32,000 Work in process 9,400 20,800 Finished goods 50,000 34,600 Activities and information for May Raw materials purchases (paid with cash) 171,000 Factory payroll (paid with cash) 250,000 Factory overhead Indirect materials 12,000 Indirect labor 57,500 Other overhead costs 110,000 Sales (received in cash) 1,700,000 Predetermined overhead rate based on direct labor cost 55 % Exercise 19-7 Cost flows in a job order costing system LO P1, P2, P3, P4 Compute the following amounts for the month of May using T-accounts. Cost of direct materials used. Cost of direct labor used. Cost of goods manufactured. Cost of goods sold\.\* Gross profit. Overapplied or underapplied overhead. *Do not consider any underapplied or overapplied overhead.
Answer:
Lock-Tite Company
Cost of direct materials used = $160,000
Cost of direct labor used = $192,500 ($250,000 - $57,500)
Cost of goods manufactured = $446,975
Cost of goods sold = $462,375
* Gross profit = $1,237,625
Overapplied or underapplied overhead = $73,625
*Do not consider any underapplied or overapplied overhead.
Explanation:
a) Data and Calculations:
Inventories April 30 May 31
Raw materials $ 33,000 $ 32,000
Work in process 9,400 20,800
Finished goods 50,000 34,600
Activities and information for May:
Raw materials purchases (paid with cash) 171,000
Factory payroll (paid with cash) 250,000
Factory overhead:
Indirect materials 12,000
Indirect labor 57,500
Other overhead costs 110,000
Sales (received in cash) 1,700,000
Predetermined overhead rate based on direct labor cost 55 %
T-accounts:
Raw materials
Date Account Titles Debit Credit
April 30 Inventory balance $ 33,000
May Cash 171,000
May Factory overhead $12,000
May Work in process 160,000
May 31 Inventory balance $ 32,000
Work in process
Date Account Titles Debit Credit
April 30 Inventory balance $ 9,400
May Raw materials 160,000
Factory payroll 192,500
Factory overhead 105,875
Finished goods $446,975
May 31 Inventory balance $ 20,800
Finished goods
Date Account Titles Debit Credit
April 30 Inventory balance $ 50,000
May Work in process 446,975
May Cost of goods sold $462,375
May 31 Inventory balance $ 34,600
Factory overhead
Date Account Titles Debit Credit
May Raw materials 12,000
Payroll 57,500
Other expenses 110,000
May Work in process $105,875
May Underapplied overhead 73,625
Sales revenue = $1,700,000
Cost of goods sold (462,375)
Gross profit $1,237,625
On January 1, 20X1 when the effective interest rate was 14%, a company issued bonds with a maturity value of $1,000,000. The stated rate of interest is 12%, the bonds pay interest semi-annually and sold for $893,640. The amount of bond discount amortized on July 1, 20X1 is approximately:__________.
Answer: $2,555
Explanation:
Bond discount amortization = Interest cost - Coupon payment
Coupon payment = Stated interest * Par value
= 12% * 1,000,000 * 6/12 months
= $60,000
Interest cost = Issue price * effective interest
= 893,640 * 14% * 6/12
= $62,554.80
Amortized amount:
= 62,554.80 - 60,000
= $2,554.80
= $2,555
A firm sells two products, Regular and Ultra. For every unit of Regular sold, two units of Ultra are sold. The firm's total fixed costs are $1,782,000. Selling prices and cost information for both products follow. The contribution margin per composite unit is:
Answer:
Total Contribution = $52
Explanation:
Given:
Fixed cost = $1,782,000
Product Sales price VC per unit
Regular $20 $8
Ultra $24 $4
Computation:
Contribution = Sales - VC
Contribution on regular product = 20 - 8 = $12
Contribution on ultra product = 24 - 4 = $20
Total Contribution = (1 x 12) + (2 x 20)
Total Contribution = 12 + 40
Total Contribution = $52
What is the present value of an annuity that pays $58 per year for 13 years and an additional $1,000 with the final payment
Answer:
$882.03
Explanation:
Interest rate used is 7.23%
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 to 12 = 58
cash flow in year 13 = 1058
I = 7.23
To find the PV 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 NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
An employee earned $1,000 in the first pay period of the current year. How much is the total employer and employee social security taxes on these earnings? (Use the simplified rate shown in illustrations.)
Answer: $120
Explanation:
The total employer and employee social security taxes is 6% fir the employee and 6% for the employee which then makes up 12%.
Since the employee earned $1,000 in the first pay period of the current year, then the total employer and employee social security taxes on these earnings will be:
= 12% × $1000
= 0.12 × $1000
= $120
Question 4 James Bennett also allocates wealth between youth and old age. He has no cash currently (in his youth), but will inherit $3000 in his old age. He can lend and borrow at the bank at 18% (that is, lending $1 in youth will give him $1.18 in old age). He has an investment opportunity that costs $12,000 now in his youth and has a payoff of $15,000 in his old age. This is the only investment opportunity available to him. What is the most he can consume in his youth
James Bennet needs us to locate investment opportunities for him.
James divides his fortune between youth and old age, as is shown to us. He is currently cashless.
He has access to bank borrowing and lending at 18%.
Some investment opportunities are presented to him.
Investing is the act of placing money into a bank, a piece of property, or a company.
Savings can also take the form of investments.
The most he should spend while still young is $15,254.23.
This calculation is displayed.
The future value is the present value times 1.18.
Future worth = $15,000 + $3,000
= $ 18,000
Therefore, the present value is equal to $18,000 divided by 1.18.
= $ 15, 254.23.
The value that represents today's value is referred to as present value.
Consequently, we might infer that the greatest amount is $15,254.23 that he can spend during his childhood.
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Meyer Company reported the following for its recent year of operation:
From Income Statement:
Depreciation Expense $1,000
Loss on the Sale of Equipment (3,000)
From the comparative balance sheet:
Beginning balance, equipment $12,500
Ending balance, equipment 8,000
Beginning balance, accumulated depreciation 2,000
Ending balance, accumulated depreciation 2,600
No new equipment was purchased during the year. What was the selling price of the equipment?
Answer:
$900
Explanation:
Calculation to determine the selling price of the equipment
First step
Cost of equipment sold = Beginning balance - Ending balance
Cost of equipment sold=$12,500-$8,000
Cost of equipment sold=$4,500
Second step
Ending balance= Beginning balance + Depreciation expense - Accumulated depreciation on equipment sold
Ending balance=$2,000+$1,000-$600
Ending balance=$2,400
Third step
Book value = Cost of equipment sold - Accumulated depreciation on equipment sold
Book value=$4,500-$600
Book value=$3,900
Now let determine the selling price of the equipment
Selling price=$3,000-$3,900
Selling price=$900
Therefore the selling price of the equipment.is $900
A firm has inventory of $11,400, accounts payable of $9,800, cash of $750, net fixed assets of $13,125, long-term debt of $9,500, accounts receivable of $6,600, and total equity of $11,700. What is the common-size percentage for the inventory?
Answer:
39.19%
Explanation:
Calculation to determine the common-size percentage for the net fixed assets
Using this formula
Common-size percentage=Net fixed assets /(Inventory+Cash+Net fixed assets+Accounts receivable )
Let plug in the formula
Common-size percentage=$12,150 / ($11,400 + $850 + $12,150 + $6,600)
Common-size percentage= 39.19%
Therefore the common-size percentage for the net fixed assets is 39.19%
Project managers can identify risks by learning and understanding the cause and effect relationships that bear on risk events. All of the following approaches rely upon an understanding of cause and effect relationships to identify risks EXCEPT:
a. perform a Monte Carlo analysis
b. understand trigger conditions, or circumstances under which a risk strategy or risk action will be invoked
c. conduct a root cause analysis
d. develop a flow chart that shows how people, materials or data flow from one person or location to another
Answer:
Interviews. Select key stakeholders. ...
Brainstorming. I will not go through the rules of brainstorming here. ...
Checklists. See if your company has a list of the most common risks. ...
Assumption Analysis. ...
Cause and Effect Diagrams. ...
Nominal Group Technique (NGT). ...
Affinity Diagram.
Explanation:
Create a risk register. Create a risk register for your project in a spreadsheet. ...
Identify risks. ...
Identify opportunities. ...
Determine likelihood and impact. ...
Determine the response. ...
Estimation. ...
Assign owners. ...
Regularly review risks.
bRamapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly. Data for the products and departments are listed below. Product Number of Units Direct Labor Hours Per Unit Machine Hours Per Unit Blinks 1,048 4 7 Dinks 2,236 5 6 All of the machine hours take place in the Fabrication department, which has an estimated overhead of $82,200. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $102,000. Ramapo Company uses a single plantwide overhead rate to apply all factory overhead costs based on direct labor hours. The factory overhead allocated per unit of Dinks is
Answer:
Ramapo Company
The factory overhead allocated per unit of Dinks is:
= $56.94.
Explanation:
a) Data and Calculations:
Product Number of Units Direct Labor Machine
Hours Per Unit Hours Per Unit
Blinks 1,048 4 7
Dinks 2,236 5 6
Fabrication Assembly
Estimated overhead $82,200 $102,000
Machine hours:
Blinks 7,336
Dinks 13,416
Total machines hours 20,752
Direct Labor hours:
Blinks 4,192
Dinks 11,180
Total machines hours 15,372
Total factory overhead Blinks Dinks
Fabrication department $29,058 $53,142
Assembly department 27,816 74,184
Total allocated overhead $56,874 $127,326
Units produced 1,048 2,236
Factory overhead per unit $54.27 $56.94 ($127,326/2,236)
A sporting equipment store expects to purchase $8,200 of ski boots in October. The store had $2,800 of ski boots in merchandise inventory at the beginning of October, and expects to have $1,800 of ski boots in merchandise inventory at the end of October to cover part of anticipated November sales. What is the budgeted cost of goods sold for October?
a) $7,000.
b) $9,000.
c) $8,000.
d) $12,000.
e) $11,000.
Answer:
$9,200
Explanation:
Calculation to determine the budgeted cost of goods sold for October
Using this formula
Budgeted cost of goods sold for October =Cost of ski boots + Inventory at the beginning - Inventory at the end
Let plug in the formula
Budgeted cost of goods sold for October = $2800 + $8200 - $1800
Budgeted cost of goods sold for October= $9200
Therefore the budgeted cost of goods sold for October is $9,200
Broker Pat received an offer for a listing along with a $5,000 check from the buyer as an earnest money deposit. When the owner accepts the offer, Pat should handle the check in any of the following ways, except to:____.
a. deposit the check into Pat's brokerage account.
b. give the check to the owner of the property.
c. give the check to the escrow agent.
d. deposit the check in Pat's trust fund account.
Answer:
b. Give the check to the owner of the property.
Explanation:
Pat is a broker who has received an offer for a listing along with check. He can give the check to an escrow agent or deposit the check into pat's brokerage account. he cannot give check directly to the owner of the property.
During December, Far West Services makes a $2,000 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.5%.
Required:
Record sales and sales tax payable.
Answer:
Total sales tax payable:170, sales :2000
Explanation:
Sale price x sales tax rate = sales tax payable
2000 x .085 (6%+2.5%) = 170
it doesn’t say so I’m assuming that the 2,000 credit sale does NOT include the sales tax due.
With the total performance indicators in place at Sears, it can evaluate if a single store improves its employee attitude by 5 percent and therefore predict with confidence that if the revenue growth in the district as a whole is 5 percent, the revenue growth in this particular store would be 5.5 percent. This is an example of the _______ perspective of the balanced scorecard.
A) innovation and learning
B) internal business
C) financial
D) customer
Answer:
C) financial
Explanation:
In Business management, a balance scorecard can be defined as a performance metrics used for measuring and assessing the quality of performance of a company.
The four (4) performance metrics of a balance scorecard includes the following; customer, learning and growth, internal business processes, and financial.
Generally, there exist a strong causal relationship between customer attitudes, employee attitudes, and financial outcomes that are generated by an organization or business firm.
In this scenario, Sears was able to evaluate that if a single store improves its employee attitude by 5% and revenue in the district as a whole grew by 5%; the revenue growth in this particular store would be 5.5%.
Thus, this is an example of the financial perspective of the balanced scorecard because with its total performance indicators, it was able to measure the level of revenue (finance) that would be generated by the store.
In conclusion, the balance scorecard should be used to determine whether or not the operations of a business is in synchronization with its vision statement and values.
An electronics company makes communications devices for military contracts. The company just completed two contracts. The navy contract was for 2,540 devices and took 27 workers two weeks (40 hours per week) to complete. The army contract was for 5,940 devices that were produced by 37 workers in three weeks (40 hours per week). a. Calculate the productivity for navy and army contracts in units produced per labor hour.
Answer:
Explanation:
For Navy contract, the total number of man hours put into production will be:
= 27 × 40 × 2
= 2160 man hours
Then, the units produced per labor hour will be:
= 2540 devices / 2160
= 1.176 units per labor hour.
For Army contracts, the total number of man hours put into production will be:
= 37 × 40 × 3
= 4440 man hours
Then, the units produced per labor hour will be:
= 5940/4440
= 1.338 units per labor hour.
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2. Unit price and cost data are: M N OUnit sales price$12 $10 $11Unit variable costs 9 8 9Total fixed costs are $585,000. The selling price per composite unit for the current sales mix (rounded to the nearest cent) is:
Answer:
Selling price per composite unit= $11.3
Explanation:
Giving the following information:
Madison Corporation sells three products (M, N, and O) in the following mix: 3:1:2.
Unit price and cost data are: M N OUnit sales price$12 $10 $11
First, we need to calculate the sales proportion for each product:
M= 3/6= 0.5
N= 1/6= 0.17
O= 2/6= 0.33
Now, the selling price per composite unit:
Selling price per composite unit= (0.5*12) + (0.17*10) + (0.33*11)
Selling price per composite unit= $11.3
Pale Company owns 90% of the outstanding common stock of Shale Company. On January 1, 2014, Shale Company sold equipment to Pale Company for $300,000. Shale Company had purchased the equipment for $450,000 on January 1, 2006 and has been depreciating it over a 10 year life by the straight-line method. The management of Pale Company estimated that the equipment had a remaining life of 5 years on January 1, 2014. In 2014, Pale Company reported $225,000 and Shale Company reported $150,000 in net income from their independent operations.
Required:
A. Prepare in general journal form the workpaper entries relating to the intercompany sale of equipment that are necessary in the December 31, 2014 and 2015 consolidated statements workpapers. Pale Company uses the cost method to record its investment in Shale Company.
B. Calculate equity in subsidiary income for 2014 and noncontrolling interest in net income for 2014.
Answer:
Equipment (Dr.) $300,000
Cash (Cr.) $300,000
Accumulated depreciation (Dr.) $360,000
Cash (Dr.) $300,000
Equipment (Cr.) $450,000
Gain on disposal (Cr.) $210,000
Explanation:
Depreciation for equipment is [ $450,000 / 10 years ] * 8 years = $360,000
B. equity in subsidiary income for 2014 is $150,000 * 90% = $135,000
NCI is $150,000 - $135,000 = $15,000.
8794979666++++45626563.
Which of the following food borne illness has a preventative vaccine
A. E.coli
B.norovirus
C. Hep. A
D. Shigella
Answer:
C. Hep. A
Explanation:
From the available options, Hep. A is preventable with a vaccine. The vaccine was created in 1995. It is administered to individuals in two seperate doses and usually done with a time span of 6 months between dose. Having both doses administered helps prevent the individuals from the Hep. A virus long term. Like most vaccines, this one has a 95% effectiveness for preventing the virus from affecting the individual's body.
Fina Corp. had the following transactions during the quarter ended March 31, 2018: Payment of fire insurance premium for calendar year 2018 800,000 What amount should be included in Fina's income statement for the quarter ended March 31, 2018?
Answer:
$200,000
Explanation:
When a company prepays for a service, the amount prepaid is recognized as an asset until the service is enjoyed (usually with the passing of time).
This is recorded as follows
Dr Prepaid expense
Cr Cash account
Being entries to recognize amount prepaid.
As the service is enjoyed,
Dr Expense
Cr Prepaid expense
Being entries to recognize expense incurred.
Since 800,00 was the amount prepaid for the calendar year 2018, by 31 March 2018, the amount used up (to be recognized as expense in the income statement) will be
3/12 * $800,000
= $200,000
