Answer:
$36,800
Explanation:
The total amount of interest expense included in the first annual principal
= Principal's balance × yearly interest rate
= $320,000 × 11.5%
= $36,800
The principal's balance after the first payment is
= $320,000 - $36,800
= $283,200
The interest expense included in the second payment is
$283,200 × 11.5%
= $32,568
You have just joined the project management office after five years of working on projects. One of the things you want to introduce to your company is the need to create and utilize WBSs. Some of the project managers are angry that you are asking them to do "extra work". Which of the following would be the BEST thing you could tell the project managers to convince them to use WBSs?a. Tell them that it is not needed b. Tell them it is required only if the project involves contracts. c. Tell them it is the only way to identify risks. d. Tell them it will prevent work from slipping through the cracks
Answer: d. Tell them it will prevent work from slipping through the cracks
Explanation:
Work Breakdown Structures work to make a large and by extension all projects more manageable by dividing it into different portions that will then be managed individually to ensure that they are accomplished.
With different portions, various team members can be assigned to them which will lead to greater work efficiency as work is done simultaneously on a project.
Due to this division of the project and the micro-management that comes with it, tasks can be better monitored meaning that there will be less chances of work slipping through the cracks because all tasks will be assigned to different portions of the project and can therefore be traced easily and their completion will form part of the completion of a portion.
Inventory at the end of April, 2008: 200 unitsExpected demand during April, 2008: 50 unitsProduction expected during April, 2008: 100 unitsWhat was the inventory at the end of March 2008?
Answer:
beginning inventory= 150 units
Explanation:
Giving the following information:
Endiing inventory= 200 units
Sales= 50 units
Production= 100
To calculate the beginning inventory, we need to use the following formula:
Production= sales + ending inventory - beginning inventory
100= 50 + 200 - beginning inventory
beginning inventory= 250 - 100
beginning inventory= 150 units
An investment adviser has a soft dollar arrangement with DEF Brokerage Company. An investment adviser representative brings a big new account to the RIA and the account owner tells the IAR to direct 50% of his trades to XYZ Brokerage Company. If execution is not an issue, then the IAR should:
Answer:
The remaining part of the question:
Which statement is TRUE?
A. Because the payment received by the IAR is small, there is no requirement to notify the client of the payment arrangement with the executing broker
B. Because the client has an investment objective of aggressive growth, requiring an active trading strategy, there is no requirement to notify the client of the payment arrangement with the executing broker
C. The IAR must notify the client of the payment arrangement with the executing broker
D. The IAR must notify RIA of the payment arrangement with the executing broker
Correct Answer:
C. The IAR must notify the client of the payment arrangement with the executing broker .
Explanation:
A subcontractor is responsible for outfitting six satellites that will be used for solar research. Four of the six have been completed in a total of 600 hours. If the crew has a 75% learning curve, how long should it take them to finish the last two units?
Answer: ∑Tₓ = 201.222
time required to complete the last two units is 201.222 minutes
Explanation:
Given that,
total time required to four units is 600 hours,
Learning curve applied is 75% and from the learning curve coefficient table, total time factor to complete four units at 75% learning curve is 2.946
so
∑Tₙ = T₁ × total time factor
{ ∑Tₙ is total time required to complete all the units which is 600 hrs, T₁ is Time for first unit, total time factor = 2.946 }
we substitute
∑T₄ = ∑T₁ × total time factor
600 = ∑T₁ × 2.946
∑T₁ = 600/2.946
∑T₁ = 203.666 minutes
Now to get the total time required to complete 6 units, we say:
∑T₆ = ∑T₁ × total time factor
Note that total time factor at this point changes;
( from the learning curve coefficient table, total time factor to complete 6 units at 75% learning curve is 3.934)
so we substitute
∑T₆ = 203.666 × 3.934
∑T₆ = 801.222
Now to find how long should it take them to finish the last two units, we say
∑Tₓ = ∑T₆ - ∑T₄
∑Tₓ = 801.222 - 600
∑Tₓ = 201.222
Therefore time required to complete the last two units is 201.222 minutes
The time required to complete the last two units is 201.222 minutes
Given data
Total time required to four units is 600 hours
Learning curve applied is 75% and 75% learning curve is 2.946
∑Tₙ = T₁ × total time factor
{ ∑Tₙ is total time required to complete all the units which is 600 hrs, T₁ is Time for first unit, total time factor = 2.946 }
we substitute
∑T₄ = ∑T₁ × total time factor
600 = ∑T₁ × 2.946
∑T₁ = 600/2.946
∑T₁ = 203.666 minutes
Now to get the total time required to complete 6 units, we say:
∑T₆ = ∑T₁ × total time factor
so we substitute
∑T₆ = 203.666 × 3.934
∑T₆ = 801.222
Now, we will find how long should it take them to finish the last two units
∑Tₓ = ∑T₆ - ∑T₄
∑Tₓ = 801.222 - 600
∑Tₓ = 201.222
In conclusion, the time required to complete the last two units is 201.222 minutes
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The following information is available for Blossom Corporation for 2020.1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $124,000. This difference will reverse in equal amounts of $31,000 over the years 2021–2024.2. Interest received on municipal bonds was $9,300.3. Rent collected in advance on January 1, 2020, totaled $64,200 for a 3-year period. Of this amount, $42,800 was reported as unearned at December 31, 2020, for book purposes.4. The tax rates are 40% for 2020 and 35% for 2021 and subsequent years.5. Income taxes of $297,000 are due per the tax return for 2020.6. No deferred taxes existed at the beginning of 2020.Requried:Prepare the income tax expense section of the income statement for 2020.
Answer:
first we must determine taxable income = due income taxes / tax rate = $297,000 / 0.4 = $742,500
interest received on municipal bonds $9,300
unearned rent revenue = $42,800
deferred tax asset = $42,800 x 0.4 = $17,120
total pretax financial income = $742,500 + $9,300 + $124,000 - $42,800 = $833,000
deferred tax liability = $124,000 x .4 = $49,600
Income tax expense section
For the year ended December 31, 2020
Total pretax financial income $833,000
Income tax expense:
Income taxes $297,000Deferred tax liability $49,600Deferred tax asset -$17,120 -$329,480Net income $503,520
What is the yield to maturity of a -year, bond with a % coupon rate and semiannual coupons if this bond is currently trading for a price of ?
What is the yield to maturity of a five-year, $5000 bond with a 4.5% coupon rate and semi-annual coupons if this bond is currently trading for a price of $4876?
A) 6.30%
B) 4.50%
C) 4.30%
D) 5.07%
E) 8.60%
Answer:
5.07%
Explanation:
Given the following parameters from the question:
Number of years = 5
N => Number of compounding periods = 5 * 2 = 10
FV => Face Value = $5,000
PV => Present Value = $4876
Percentage rate = 4.5%
PMT => Annuity Payment = Face Value * percentage
=> 5,000 * 0.045 = 225
Given that, it is semi annual rate, we have 225 / 2 = 112.5
CPT YTM or I/Y => Yield to Maturity = 2.53 * 2 = 5.07%
Hence, the final answer is 5.07%
Sarah takes out a loan today for $26,000 at an interest rate of 2 percent a year. She plans to repay the loan after 5 years. How much will he have to pay?
Sarah will have to pay:__________
Answer:
$28,706.10
Explanation:
The computation of the amount of pay is shown below:
Here we have to find the future value by using the following formula
Future value = Present value × (1 + interest rate)^number of years
= $26,000 × (1 + 0.02)^5
= $28,706.10
We simply applied the above formula so that the amount of pay could be come and the same is to be considered
he beginning share price for a security over a three-year period was $50. Subsequent year-end prices were $62, $58 and $64. The arithmetic average annual rate of return and the geometric average annual rate of return for this stock were:
Answer:
Arithmetic average rate of return = 9.30%
geometric average annual rate of return = 8.58%
Explanation:
share price at the beginning = $50
time = 3 year
price at the end of year 1 = $62
price at the end of year 2 = $58
price at the end of year 3 = $64
Annual rate of return in year 1 = ($62 / $50 - 1) x 100 = 24%
Annual rate of return in year 2 = ($58 / $62 - 1) x 100 = -6.45%
Annual rate of return in year 3 = \($64 / $58 - 1) x 100 = 10.34%
Arithmetic average rate of return = sum of annual rate of return / 3
Arithmetic average rate of return = (24% + -6.45% + 10.34%) / 3
Arithmetic average rate of return = 9.30%
geometric average annual rate of return = { (1 + r1) x (1 + r2) x (1 + r3) }^1/3 - 1
= (1.24) x (0.9355) x (1.1034)^1/3 - 1 = 8.58%
Net sales for the year were $1,050,000 and cost of goods sold was $735,000 for the company’s existing products. A new product is presently under development and will have an expected selling price of not more than $68 per unit in order to remain competitive with similar products in the marketplace. Required: a. Calculate gross profit and the gross profit ratio for the year.
Answer:
The answer is:
Gross profit is $315,000
Gross profit ratio is 30 percent
Explanation:
Gross profit equals net sales minus cost of sales
Net sales - $1,050,000
Cost of sales - ($735,000)
Gross profit -. $315,000
Gross profit ratio is:
(Gross profit / net sales) x 100 percent
($315,000 / $1,050,000) x 100 percent
0.3 x 100 percent
30 percent.
So we have:
Gross profit is $315,000
Gross profit ratio is 30 percent
Sam and Suzy Sizeman need to prepare a cash budget for the last quarter of 2020 to make sure they can cover their expenditures during the period. Sam and Suzy have been preparing budgets for the past several years and have been able to identify the percentage of their income that they pay for most of for their cash outflows. These percentages are based on their take-home pay (e.g., monthly utilities normally run 5.1% of monthly take-home pay).
The information in the following table can be used to create their fourth-quarter budget for 2013.
Income
Monthly take-home pay $4,900
Expenses:
Housing 30%
Utilities 5%
Food 10%
Transportation 7%
Medical/dental 0.5%
Clothing for October and November 3%
Clothing for December $440
Property taxes (November only) 11.5%
Appliances 1%
Personal care 2%
Entertainment for October and November 6%
Entertainment for December $1,500
Savings 7.5%
Other 5%
Excess cash 4.5%
Required:
a. Prepare a quarterly cash budget for Sam and Suzy covering the months October through December 2013.
b. Are there individual months that incur a deficit?
c. What is the cumulative cash surplus or deficit by the end of December 2013?
Answer:
a) Statement showing Cash Budget
Particulars October$ November$ December$ Total
$
Monthly take 4,900.00 4,900.00 4,900.00 14,700.00
home pay
Housing at 30% 1,470.00 1,470.00 1,470.00 4,410.00
Utilities at 5% 245.00 245.00 245.00 735.00
Food at 10% 490.00 490.00 490.00 1,470.00
Transportation 343.00 343.00 343.00 1,029.00
at 7%
Medical at 0.5% 24.50 24.50 24.50 73.50
Clothing at 3% 147.00 147.00 - 294.00
for Oct and Nov
Clothing for Dec - - 440.00 440.00
Property Taxes - 563.50 - 563.50
at 11.5% for Nov
Appliances at 1% 49.00 49.00 49.00 147.00
Personal Care 98.00 98.00 98.00 294.00
at 2%
Entertainment 294.00 294.00 - 588.00
at 6% for Oct and Nov
Entertainment - - 1,500.00 1,500.00
for Dec
Savings at 7.5% 367.50 367.50 367.50 1,102.50
Other 5% 245.00 245.00 245.00 735.00
Excess Cash 220.50 220.50 220.50 661.50
at 4.5%
Remaining Cash 906.50 343.00 -592.50 657.00
b) Yes- In December there is a deficit of $592.50
c) Cumulative surplus is of $657 by end of Dec 2013
An e-business can redefine its market by removing traditional marketplace intermediaries or by creating new ways to add value to business transactions.
a. True
b. False
Answer: True
Explanation:
An e-business is a kind of business whereby information is passed across on the internet. Since we live in a digital world, organizations now engage their customers online.
An e-business can redefine its market by removing traditional marketplace intermediaries or by creating new ways to add value to business transactions.
Consider a hypothetical closed economy in which households spend $0.65 of each additional dollar they earn and save the remaining $0.35. The marginal propensity to consume (MPC) for this economy is , and the spending multiplier for this economy is .
Answer:
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
Explanation:
The marginal propensity to consume (MPC) is the proportion of increased disposable income that consumers spend. It is a metric to quantify the induced consumption and how an increase in consumer spending occurs as a result of increase in income.
MPC is calculated as follows,
MPC = Change in consumer spending / change in income
MPC = 0.65 / 1
MPC = 0.65
To calculate the multiplier, we simply use the following formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.65)
k = 2.85714 rounded off to 2.86
The marginal propensity to consume is a measure in economics that quantifies induced consumption, or the idea that private expenditure grows in tandem with disposable income.
The spending power is the amount of expendable cash spent on consumption by individuals.
The answers to the questions in the context are:
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
The proportion of extra discretionary income spent by the customer is defined as the level of consumption (MPC).
It's a statistic for measuring induced consumption, or how an increase in consumer spending occurs as a result of an increase in income.
MPC is calculated as follows,
MPC = [tex]\frac{\text{Change in consumer spending}}{\text{change in income}}[/tex]
MPC = 0.65 / 1
MPC = 0.65
To calculate the multiplier:
Multiplier or k = [tex]\frac{1}{1-MPC}[/tex]
k = [tex]\frac{1}{1-0.65}[/tex]
k = 2.85714 rounded off to 2.86
Therefore,
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
To know more about the calculations of the consumptions and the multiplier, refer to the link below:
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Your boss has asked you to hand deliver five invitations to a special luncheon he is hosting. When you receive the
invitations, they have only first and last names but no addresses. You remember that they all live side by side in an
apartment building on Central Street. The boss left the following information with his assistant, but it is all you have. Time to
problem-solve to figure out who lives where!
This much you know for sure Carly has Greg as one next-door neighbor and the Joneses as her other next-door
neighbors. Now it's it up to you to figure out who lives in the other apartments. It may be helpful for you to draw five boxes
to use as a visual guide. Furthermore, writing names on your drawing in pencil will allow you to keep track of the neighbors
as you place them in their homes.
1 The Smiths live in the westernmost apartment, Louis lives in the easternmost
2. Leon has Mia as one next-door neighbor with TJ on the other side.
3. Both Tami and TJ live east of the Williamses.
4. TJ lives next door to the Browns
5. Tom lives west of the Garcias and east of Carly
6. Kris and Tami are next-door neighbors. The Garcias also live next to Tami but on the other side.
7. Nikki lives east of TJ.
Answer:
1)Smiths
2)Nikki
3)Williams
4)Mia
5) Leon
6)TJ
7)Browns
8)Joneses
9)Carley
10)Greg
11)Tom
12)Garcias
13)Tami
14)Kris
15)Loise
Explanation:
Suppose the real interest rate is 2.8%, and the inflation rate is 7%. (1) How much do you need to invest now in order to get $100 in a year? Please show two approaches to calculate the answers. (Round your final answer to two decimal places) (2) Suppose the U.S. Treasury issues 5% coupon, 3-year TIPS (Treasury Inflation-Protected Securities). What are the real cash flows on the 3-year TIPS each year? What are the nominal cash flows on the 3-years TIPS each year? (Round your final answers to two decimal places)
Answer:
1)
approach 1, using the approximate real and nominal interest rates:
nominal interest rate = real interest rate + inflation rate = 2.8% + 7% = 9.8%
present value = $100 / (1 + 9.8%) = $91.07
approach 2, using the exact real and nominal interest rates:
(1 + i) = (1 + r) × (1 + π)
(1 + i) = (1 + 2.8%) x (1 + 7%) = 1.09996
i = 1.09996 - 1 = 0.09996 = 9.996%
present value = $100 / (1 + 9.996%) = $90.91
2)
assuming a $1,000 TIPS, nominal cash flow year 1 = $50
new face value = $1,070
nominal cash flow year 2 = $53.50
new face value = $1,144.90
nominal cash flows year 3 = $57.25 + ($1,144.90 x 1.07) = $1,282.29
assuming a $1,000 TIPS, real cash flow year 1 = $50 / 1.07 = $46.73
new face value = $1,070
real cash flow year 2 = $53.50 / 1.07² = $46.73
new face value = $1,144.90
real cash flows year 3 = [$57.25 + ($1,144.90 x 1.07)] / 1.07³ = $1,282.29 / 1.07³ = $1,046.73
A customer opens a new margin account with the following position:
Long: 1,000 XYZ Cmn
Mkt Value: $20,000
Debit: $10,000
If the market value rises to $22,000, how much SMA is created?
Answer:
$1,000
Explanation:
The above means that for every $1 increase in the market value in a long margin account, the SMA increases by $0.50
If the market value rises to $22,000, the account will show
Long market value - Debit = Equity % SMA
$22,000 - $10,000 = $12,000
Against $22,00 of market value, 50% can be borrowed or $11,000. Since the debit is $10,000, an additional $1,000 can be borrowed . This is the SMA
Your Competitive Intelligence team is predicting that the Digby Company will invest in adding capacity to their Deal product this year. Assume Digby's product Deal invests in increasing its capacity by 10% this year. Because of this new information, your company anticipates all other products in the Core segment will increase their capacity by the same amount. How much can the industry produce in the Core segment the next year
Answer:
13,288
Explanation:
The computation of the amount that industry produced in the core segment is shown below:
It can be determined in two ways i.e.
= 6,444 + 6,444
= 13,288
And, the other method is
= 6,444 × 2
= 13,288
In both the methods, the answer would remain the same
Hence, the 13,288 should be produced by the industry for the next year production
Your auto dealer gives you the choice to pay $15,500 cash now, or make three payments: $8,200 now, $4,200 in one year and $3,200 in two years. If your cost of money (discount rate) is 7.25%, what is the PV of the installment plan?
Answer:
The answer is $14,898.07
Explanation:
Assume that the cost of money (discount rate) of 7.25% is on annual basis.
Present value (PV) of the installment plan is:
PV = Down payment + PV(first installment) + PV(second installment)
= $8,200 + $4,200 / (1 + 7.25%) + $3,200 / (1 + 7.25%)^2 = $14,898.07
Obviously, the three payments option is more lucrative than the 100% down payment one.
Poseidon Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Poseidon uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: pounds per unit; per pound
Direct labor: hours per unit; per hour
Poseidon produced units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the direct labor cost variance was F. Which of the following is a logical explanation for this variance?
A. The company paid a lower cost for the direct materials than allowed by the standards.
B. The company used a lower quantity of direct materials than allowed by the standards.
C. The company paid a lower cost per hour for labor than allowed by the standards.
D. The company used fewer labor hours than allowed by the standards,
Answer:
The company paid a lower cost per hour for labor than allowed by the standards.
Explanation:
The labour cost variance is the difference between the standard labour cost allowed for the actual hours worked and the actual labor cost for the same hours
The labour cost variance compares the actual cost and the standard cost for the actual labour hours paid for.
Hence , Poseidon Marine Stores Company would have paid a sum for labour cost which is lower than the standard cost.
The company paid a lower cost per hour for labor than allowed by the standards.
TB MC Qu. 7-137 Farris Corporation, which has ... Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 144 Units in beginning inventory 0 Units produced 9,350 Units sold 8,950 Units in ending inventory 400 Variable costs per unit: Direct materials $ 26 Direct labor $ 68 Variable manufacturing overhead $ 14 Variable selling and administrative expense $ 18 Fixed costs: Fixed manufacturing overhead $ 140,250 Fixed selling and administrative expense $ 9,600 What is the net operating income (loss) for the month under variable costing
Answer:
Net operating income= $11,250
Explanation:
Giving the following information:
Selling price $144
Units sold 8,950
Variable costs per unit:
Direct materials $26
Direct labor $68
Variable manufacturing overhead $14
Variable selling and administrative expense $18
Total variable cost= $126
Fixed costs:
Fixed manufacturing overhead $140,250
Fixed selling and administrative expense $9,600
Variable costing income statement:
Sales= 8,950*144= 1,288,800
Total variable cost= (126*8,950)= (1,127,700)
Contribution margin= 161,100
Fixed manufacturing overhead= (140,250)
Fixed selling and administrative expense= (9,600)
Net operating income= 11,250
Historically the stock market goes up when there is bad news on unemployment. The latest statistics show the unemployment rate is skyrocketing so this could be a good time to buy stocks.
The arguments target is:
A. Bad news on unemployment
B. The stock market in the past when there is bad news on unemployment
C. The stock market now
Answer: C. The stock market now
Explanation:
The Argument target refers to the subject of the discussion in question. The speaker in question is attempting to explain why it would be a good time to buy stocks in the present which concerns the stock market today making it the subject.
The speaker does this by calling into evidence, the correlations between variables in the past and showing that with one variable ( high unemployment) currently in effect, the other variable (increasing stock prices) which it correlates with therefore has a chance of happening in the present.
_______ appraisals occur between managers and their subordinates whenever the need to discuss ongoing progress and areas for improvement arise.
Answer: Informal
Explanation: appraisals that occur between managers and their subordinates whenever the need to discuss ongoing progress and areas for improvement arise is known as an informal appraisal. Here, a manager provides significant feedback and direction to his employees outside of a formal review meeting thus providing opportunities for coaching and rapport building. It is carried out whenever the manager or supervisor deems it necessary.
Your client is 40 years old; and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year; and you advise her to invest it in the stock market, which you expect to provide an average return of 9% in the future.
Answer:
14,000
Explanation:
im smart
Acme Company’s production budget for August is 17,600 units and includes the following component unit costs: direct materials, $7.70; direct labor, $10.10; variable overhead, $6.20. Budgeted fixed overhead is $33,000. Actual production in August was 18,810 units. Actual unit component costs incurred during August include direct materials, $8.50; direct labor, $9.10; variable overhead, $6.90. Actual fixed overhead was $34,600. The standard direct material cost per unit consists of 11 pounds of raw material at $0.7 per pound. During August, 319,770 pounds of raw material were used that were purchased at $0.50 per pound.
Required:
Calculate the materials price variance and materials usage variance for August.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Actual production in August was 18,810 units.
During August, 319,770 pounds of raw material were used that were purchased at $0.50 per pound.
The standard direct material cost per unit consists of 11 pounds of raw material at $0.7 per pound.
To calculate the direct material price and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.7 - 0.5)*319,770
Direct material price variance= $63,954 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 18,810*11= 206,910
Direct material quantity variance= (206,910 - 319,770)*0.7
Direct material quantity variance= $79,002 unfavorable
Widgeon Co. manufactures three products: Bales, Tales, and Wales. The selling prices are $55, $78, and $32, respectively. The variable costs for each product are $20, $50, and $15, respectively. Each product must go through the same processing in a machine that is limited to 2,000 hours per month. Bales take 5 hours to process; Tales 7 hours; and Wales 1 hour. Assuming that Widgeon Co. can sell all of the products it can make, what is the maximum contribution margin it can earn per month?
a. $56,000.
b. $34,000.
c. $49,000.
d. $70,000.
Answer:
b. $34,000.
Explanation:
The computation of contribution margin is shown below:-
Particulars Bales Tales Wales
Seeling price $55 $78 $32
Variable cost $20 $50 $15
Contribution
margin $35 $28 $17
Required hour to
process 5 7 1
Contribution margin
per hour 7 4 17
Maximum contribution margin is
= Contribution margin per hour × number of machine hours
= 17 × 2,000
= $34,000
Millie withdraws $1,000 from her checking account so she can have $1,000 in cash. If no other changes occur, M1 will
Answer:
M1 will not change
Explanation:
M1 is the money supply that is composed of physical currency , coin, demand deposits, travellers' checks, checking accounts, and negotiable order of withdrawal (NOW) accounts. M1 includes the most liquid of money supply.
Because checking account and cash are both components of M1, there would be no change in M1
Next week, Mortimer is preparing to go to work for the Illinois department of Child Services. He was surprised when his friends told him that he was going to have to pay one percent of his salary to the union that represents the unionized workers that would include Mortimer, whether he joined the union or not - a so-called agency fee to prevent 'free riders'. This was for services provided to Mortimer, including collective bargaining and grievance representation. Mortimer was shocked - no one had told him about this! What advice would you provide to Mortimer?
Answer:
The implication is that the Illinois Department of Child Services is a unionized workplace.
Mortimer will derive better benefits that surpass the costs of membership. He is covered in all collective bargains, even when he resigns his union membership. Unions negotiate for better working conditions, higher pays, and improved benefits.
When Mortimer has any grievance against the department, the union will also represent him, thereby making his life easier since unions can negotiate better with employers than individual workers.
Mortimer is even lucky to find a job at a unionized workplace because the jobs are not usually advertised as union members easily bring in their relatives and friends to occupy such vacancies.
Explanation:
Most of the disadvantages that Mortimer should complain about unions are disadvantages to the employer and not to him as an individual worker. For the employer, the union acts as a form of monopoly that can decide whether the workers would work or not. The unionized workers are not easy to replace with other workers.
On the first day of the fiscal year, a company issues a $8,800,000, 7%, 10-year bond that pays semiannual interest of $308,000 ($8,800,000 × 7% × ½), receiving cash of $7,655,303. Required:Journalize the first interest payment and the amortization of the related bond discount.
Answer and Explanation:
The journal entry is shown below:
Interest expense $403,391
To Cash $308,000
To Discount on note payable $95,391
{($8,800,000 - $7,655,303) ÷ 12}
Here we debited the interest expense as it increased the expenses and credited the cash as it decreased the assets and credited the discount on note payable
A seller did not submit testing information required in the contract to the buyer, and the project manager did not notice it was not received. After four weeks, the company head asked for the testing information and found out it was not received. The project manager then asked the seller to send the information. The seller argued, "You did not receive the testing reports for four weeks, and you did not say anything. You have therefore waived your rights to ever get them". The seller refused to give the reports without a change to the contract and additional payment. The issue went to court of law to resolve. What do you think was the court's decision? Post what you believe the decision was in this forum post. After posting, review and comment on at least one of your colleagues post. Be sure that you answer any questions that someone else might have made on your post. NOTE: You will not be able to see any other responses until you post your own.
Answer:
Since the testing information is a requirement of the contract, the buyer has the right to request for it accordingly and the seller should not refuse unless fraud is implied. The contract does not specify when a waiver of the right to the testing information should become effective.
The court of law should decide in favor of the buyer's right to receive the testing information from the seller.
Explanation:
Contract terms are agreements and promises that must be followed because they are made for consideration to be given and received. If a contract for the sale of goods includes the submission of some information, this later requirement forms part of the contract and exchange of promises for consideration, and they must be respected and fulfilled, unless there is additional agreement specifying some deadline within which the right to such testing information is waived.
O'Mally Department Stores is considering two possible expansion plans. One proposal involves opening 5 stores in Indiana at the cost of $1,810,000. Under the other proposal, the company would focus on Kentucky and open 6 stores at a cost of $2,000,000. The following information is available: Indiana proposal Kentucky proposal Required investment $1,810,000 $2,000,000 Estimated life 6 years 6 years Estimated residual value $80,000 $40,000 Estimated annual cash inflows over the next 10 years $700,000 $800,000 Required rate of return 13% 13% The accounting rate of return for the Indiana proposal is closest to (Round any intermediary calculations to the nearest dollar, and round your final answer to the nearest hundredth of a percent, X.XX%.)
Answer:
O'Mally Department Stores
The accounting rate of return for the Indiana proposal is closest to 24.28%
Explanation:
a) Data and Calculations:
Indiana proposal Kentucky proposal
Required investment $1,810,000 $2,000,000
Estimated life 6 years 6 years
Estimated residual value $80,000 $40,000
Estimated depreciable cost $1,730,000 $1,960,000
Average depreciable cost $288,333 $326,667
Estimated annual cash inflows
over the next 10 years $700,000 $800,000
Average cash inflows $70,000 $80,000
Required rate of return 13% 13%
Accounting rate of return = Average cash inflows/Average depreciable cost x 100 = $70,000/$288,333 x 100 = 24.28%
The Indiana proposal of O'Mally Department Stores' accounting rate of return is the ratio of estimated accounting profit to the average investment cost. The estimated accounting profit is equivalent to the average cash inflow and the average investment cost is equivalent to the average depreciable cost.
While making purchase decisions, which of the following products is most likely to elicit the greatest reference group influence?
A) A car.
B) A medicine.
C) An award-winning novel.
D) A toothbrush.
Answer: a car
Explanation:
While making purchase decisions, the product that is most likely to elicit the greatest reference group influence will be a car.
This because when an individual has a car, other people see the person and use that as a reference group. It should also be noted that a good thatbis considered public good has a strong influence group.
While making purchase decisions, the product that is most likely to elicit the greatest reference group influence is A) A car.
What is a reference group?A reference group is a group that can influence an individual's buying preferences.
The influence wielded by a reference group depends on the level of conformity within the group.
Thus, while making purchase decisions, the product that is most likely to elicit the greatest reference group influence is A) A car.
Learn more about reference groups in consumer behavior at https://brainly.com/question/13362488
