Answer:
Option A is correct
Price elasticity of demand =0.6
Explanation:
Price elasticity of demand (PED) is the degree of responsiveness of demand to a change in price.
Where a percentage change in price produces a more than a proportional change in quantity, we say the product is price elastic. On the other hand, where a change in price produces a less than a proportional change in quantity demand, then demand is price inelastic
PED is computed as follows:
PED = % change in quantity /% change in Price
% change in demand = (100-80)/100 × 100 = 20%
% change in price =(0.75-1)/0.75 × 100 = 33.33%
PED = 20%/33.33% = 0.600
Price elasticity of demand =0.6
The following information is for the standard and actual costs for the Happy Corporation:
Enter favorable variances as negative numbers.
Standard Costs:
Budgeted units of production - 16,000 [80% (or normal) capacity]
Standard labor hours per unit - 4
Standard labor rate - $26 per hour
Standard material per unit - 8 lbs.
Standard material cost - $12 per pound
Standard variable overhead rate - $15 per labor hour
Budgeted fixed overhead - $640,000
Fixed overhead rate is based on budgeted labor hours at 80% (or normal) capacity.
Actual Cost:
Actual production - 16,500 units
Actual fixed overhead - $640,000
Actual variable overhead - $1,000,000
Actual labor - 65,000 hours, total labor costs $1,700,000
Actual material purchased and used - 130,000 lbs, total material cost $1,600,000
Actual variable overhead - $1,000,000
Determine the Quantity Variance
a. 24,000 unfavorable
b. 24,000 favorable
c. 12,000 unfavorable
d. 12,000 favorable
Answer:
a. 24,000 unfavorable
Explanation:
Quantity Variance = Standard Price ( Actual Quantity - Standard Quantity Allowed)
= $12 per pound (8 lbs.*16,500 lbs-8 lbs.*16,000)
= $ 12 (132,000 lbs-130,000 lbs) = $ 12 (2000)= 24,000 unfavorable
It is unfavorable because the actual quantity used is more than the standard quantity allowed.
Quantity variance is obtained by multiplying the standard price with the difference in the actual quantity used and the standard quantity allowed.
Tariffs Group of answer choices may be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). are per-unit subsidies designed to promote exports. are excise taxes on goods exported abroad. are also called import quotas.
Answer:
imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs).
Explanation:
A tariff is a compulsory sum levied on the importation of goods. the purpose of tariffs is either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs). by imposing tariffs, imported goods become more expensive. this discourages importation and encourages individuals to patronise locally produced goods.
Antiperspirant deodorants were introduced to the market in 1941. The market for antiperspirant deodorants is currently characterized by slowing product class revenue, fierce price competition, and repeat purchase behavior. Antiperspirant deodorants are currently at the ________ stage of the product life cycle.
Answer:
Maturity
Explanation:
In this scenario, Antiperspirant deodorants were introduced to the market in 1941. The market for antiperspirant deodorants is currently characterized by slowing product class revenue, fierce price competition, and repeat purchase behavior. Antiperspirant deodorants are currently at the maturity stage of the product life cycle.
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
Hence, maturity is the stage in which product experiences a peak in sales growth and then eventually slows as the product reaches more customers, and lastly price competition is fierce.
Blue Nile is an online retailer of diamonds that has used responsive transportation to ship diamonds to customers in the United States, Canada, and several countries in Europe and Asia. Which is the mode of transportation used with this strategy
Answer:
Air transportation.
Explanation:
Responsive transportation is a form of shared transportation system where regular public transit or a personalized taxi that are frequent on a particular route are used to enhance a speedy and economical delivery of items and passengers en - route different destinations but in the same direction.
Looking at the three major modes of transportation which are road , air and sea, the one that suits this scenario is the Air system.
Being an international route , the road system does not fit in , and the ship on the sea is not a good option for responsive transportation considering its speed.
Becker Industries is considering an all equity capital structure against one with both debt and equity. The all equity capital structure would consist of 30,000 shares of stock. The debt and equity option would consist of 15,000 shares of stock plus $255,000 of debt with an interest rate of 8 percent. What is the break-even level of earnings before interest and taxes between these two options
Answer:
The break-even level of earnings before interest and taxes is $47,200
Explanation:
EBIT = Earnings before interest and taxes
EPS = Earnings per share
I = interest
n = number of equity shares
n1, n2 = number of equity shares outstanding after adopting financing plans 1 and 2
n1=30,000
n2= 15,000
Break-even EBIT level is the indifferent point where EPS under alternative financing plan is the same.
Mathematically, the break-even EBIT level is: EBIT/ n1 = (EBIT - I ) / n2
EBIT/30,000 =(EBIT -295,000 x 8%/ 15,000)
EBIT/2 = EBIT - 23,600
2*EBIT - 23,600 x 2 = EBIT
2EBIT - EBIT= 47,200
EBIT= $47,200
what is current capital , future human capital and human capital ? is there a difference?
Answer:
it's money or dollarsand no there's no difference
The marketing manager from a heavy-equipment manufacturer in Dallas,Texas was attending an international trade show in Japan.There were many prospective customers from different countries who seemed interested in the firm's product.However,they had difficulty following the manager's explanations of product features due to his heavy Texas drawl.In this case,the accent would be considered:__________.
A) an encoding error
B) a decoding error
C) culture shock
D) noise
E) distortion
Answer:
D) noise
Explanation:
Since it is mentioned in the question that there were many possible customers who belong from different countries are seemed interested in the firm product but at the time when the manager explained the features of the product, there was difficulty due to heavy Texas drawl.
So this situation represents the noise and hence the same is to be considered
Mason Company paid its annual property taxes of $240,000 on February 15, 20X9. Mason also anticipates that its annual repairs expense for 20X9 will be $1,200,000. This amount is usually incurred and paid in July and August when operations are shut down so that machinery and equipment can be repaired. What amount should Mason deduct for property taxes and repairs in each quarter for 20X9?
Answer:
$360,000 per quarter
Explanation:
we must allocate both property taxes and annual repairs expenses equally to each quarter:
total payments = property taxes + annual repairs = $240,000 + $1,200,000 = $1,440,000
allocation to each quarter = $1,440,000 / 4 quarters = $360,000 per quarter
Accrual accounting states that expenses must be recorded when they occur and not necessarily when they are associated with a cash outflow. Since both payments involve the whole year, they must be distributed equally in all 4 quarters.
You've been brought in as a security consultant for a small bicycle manufacturing firm. Immediately, you notice that they're using a centralized key-generating process, and you make a note to dissuade them from that without delay. What problem is created by using a centralized key-generating process?
Answer: Key transmission
Explanation:
Using a centralized key-generating process always leads to key transmission.
On January 1, 2021, Ozark Minerals issued $10 million of 9%, 10-year convertible bonds at 101. The bonds pay interest on June 30 and December 31. Each $1,000 bond is convertible into 40 shares of Ozarks no par common stock. Bonds that are similar in all respects, except that they are non convertible, currently are selling at 99. Upon issuance, Ozark should:
Answer:
Upon issuance, Ozark should "Credit premium on bonds payable $100,000"
Explanation:
Issue price of bond is ($10 million * $101) = $10,100,000
The face value of the bond = $10,000,000
The premium on bond = $10,100,000 - $10,000,000
The premium on bond = $100,000
Journal entry
Debit Credit
Cash $10,100,000
Premium on bonds payable $100,000
Bonds payable $10,000,000
Conclusion: Upon issuance, Ozark should "Credit premium on bonds payable $100,000"
Martin and Sons (M and S) currently is an all equity firm with 64,000 shares of stock outstanding at a market price of $25 a share. The company's earnings before interest and taxes are $86,000. M and S has decided to add leverage to their financial operations by issuing $480,000 of debt with a 7% percent interest rate. This $480,000 will be used to repurchase shares of stock. You own 2,700 shares of M and S stock. You also loan out funds at a 7% percent rate of interest. How many of your shares of stock in M and S must you sell to offset the leverage that the firm is assuming
Answer:
810 stocks
Explanation:
M and S can repurchase $480,000 / $25 = 19,200 stocks
the number of shares that you need to sell to offset the firm's leverage = total amount of stocks that you own x (total stocks repurchased / total stocks outstanding before buyback) = 2,700 x (19,200 / 64,000) = 2,700 x 0.3 = 810 stocks
Since your goal is to offset the firm's new leverage, you have to sell a proportional amount of your stocks compared to the whole repurchase transaction.
The HR department at Trevor Communications oversees the recruitment and training of employees at the firm.As the firm grows and recruits more employees,overseeing individual training programs has been come too much for HR staff to handle.Which of the following applications should the HR department use to help with employee training?A) A customer relationship management systemB) A management information systemC) A learning management systemD) A decision support systemE) An executive decision-making system
Answer:
C) A learning management system
Explanation:
Analyzing the above scenario, it is clear that the learning management system would be very useful to the HR department at Trevor Communications.
This system can be defined as a learning process that takes place in a virtual way, in an environment where each individual can access learning content in an interactive and dynamic way, by accessing a tool that contains the content and information necessary for specific learning.
This system confers several advantages to the organization, such as the elimination of personnel costs, greater ease of monitoring and follow-up, greater availability, ease of implementation and evaluation.
In an inert organizational culture, poor working relationships frequently develop between the organization and its employees. the organization tries to avoid layoffs. the organization emphasizes long-term employment. employees regularly receive rewards for their performance. values and norms help the organization build momentum.
Answer:
The correct answer is: the organization emphasizes long-term employment.
Explanation:
An inert organizational culture is one that does not seek to adapt to new work processes and trends whose objective is to innovate and facilitate work and processes.
They are usually organizations whose culture is focused on more inflexible and rigid internal policies, whose focus is on the establishment of processes and does not focus on the relationships and integration of workers.
This type of organization focuses on long-term employment, which can culminate in the lack of innovation in personnel, ideas, processes and the improvement of total quality.
In an inert organizational culture, poor working relationships frequently develop between the organization and its employees the organization emphasizes long-term employment. Thus, option B is correct.
An organizational culture that is inert does not attempt to change in response to emerging trends and work processes with the aim of innovating and streamlining work and procedures.
They are often businesses whose internal rules are more strict and inflexible, whose emphasis is on establishing procedures rather than on fostering connections and worker integration.
Long-term employment is the main focus of this kind of organization, which can lead to a lack of innovation in staff, concepts, procedures, and overall quality.
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Little Tots Gym has a required rate of return of 13%. The gym is considering the purchase of $12,500 of new equipment. The internal rate of return on the project has been calculated to be 11%. This project:________
Answer:
This project is good and be should be accepted for implementation.
Explanation:
The IRR is the discount rate that equates the present value of cash inflows to that of cash outflows. At the IRR, the Net Present Value (NPV) of a project is equal to zero
If the IRR greater than the required rate of return , we accept the project for implementation
If the IRR is less than that the required rate , we reject the project for implementation
For Little Tots Gym, the IRR of the project (13%) is higher than the required rate of return of 11%, hence the project is good and be should be accepted for implementation
Profits from a sole proprietorship are reported as taxable income and Question 5 options: can be reported as a deduction. are subject to a self-employment tax of approximately 15%. can be deferred to the next tax year. can't be taxed again in a future tax year.
Answer:
(B) are subject to a self-employment tax of approximately 15%.
Explanation:
As part of her annual review of her company's budgets versus actuals, Mary Gerard isolates unfavorable variances with the hope of getting a better understanding of what caused them and how to avoid them next year. The variable overhead efficiency variance was the most unfavorable over the previous year, which Gerard will specifically be able to trace to:
Options:
a. Actual overhead costs below applied overhead costs
b. Actual production units below budgeted production unit
c. Standard direct labor hours below actual direct labor hours
d. The standard variable overhead rate below the actual variable overhead rate
Answer: c. Standard direct labor hours below actual direct labor hours
Explanation: The variable overhead efficiency variance can obtained by multiplying the difference between the actual and Budgeted labour hours by the hourly rate for standard variable overhead. In this case, the outcome may be favorable or unfavorable. The variable overhead efficiency variance will be favorable if the actual labor hours is less than the budgeted hours while it will be unfavorable if the actual labor hours exceed the budgeted labor hours as described in the scenario above.
Which of the following is an element of a CPA firm’s quality control policies and procedures applicable to the firm’s auditing practice? Acceptance of a client relationship. Efficiency of organizational structures. Computer information processing. Professional skepticism of management.
Answer:
The correct answer is A
Explanation:
In addition to Independence, Integrity, and Objectivity ; Personnel Management ; Engagement Performance ; and Monitoring
the Public Accounting rules of Quality Control Standards require that a firm, as a matter of policy, must continually practice the Acceptance and Continuance of Clients and Engagements .
Cheers!
Rovermand Corporation is a small organization in which each member of the company is clear about his or her responsibility and whom he or she must report to. The best feature of the organization is the quick decision making, owing to its simple and direct chain of command. In the context of organization models, Rovermand Corporation is a _____ organization.
Answer: Line
Explanation:
Line organization is defined as an organization where the basic framework for the organization is well spelt out, addressing the roles of the employees, from the top to the least, and to whom each reports to. It is the simplest and oldest pattern for organization framework and it's also known as chain of command or scalar principle. Rovermand Corporation operates in a line organization pattern.
Marquez, the hotel manager, knows that the number of guests at his hotel has significantly decreased. Therefore, corporate has made it clear that the amount each department can spend on certain items will need to be cut for the year. Marquez needs to work with the hotel department managers on how to cut costs, as a part of his role as
Answer:
Resource allocator.
Explanation:
Marquez, the hotel manager, knows that the number of guests at his hotel has significantly decreased. Therefore, corporate has made it clear that the amount each department can spend on certain items will need to be cut for the year. Marquez needs to work with the hotel department managers on how to cut costs, as a part of his role as resource allocator.
A resource allocator can be defined as an individual who is saddled with the responsibility of assigning and management of available or scarce resources to effective use.
This is a strategic process which helps a business entity or organization to achieve its goals, objectives and success by efficiently avoiding wastage.
ADAP Advisers is offered a large block of ACME stock (a NYSE-listed issue) by an institutional investor at a 20% discount to the current market price, if ADAP Advisers is willing to buy the block that day. Which statement is TRUE if ADAP purchases the block for its own account rather than for its customers
Options :
A. This action is prohibited without exception, since ADAP Advisers is benefiting at the expense of its customers
B. This action is permitted if ADAP Advisers rebates any profit that it earns to its customers when it sells the block
C. This action is permitted if the purchased stock is not a suitable investment for ADAP's customers
D. This action is permitted if the block is purchased in the Third Market during the hours that the NYSE is closed
Answer: C.) This action is permitted if the purchased stock is not a suitable investment for ADAP's customers
Explanation: ADAP being a professional in the aspect of advisory investment, have a legal and ethical responsibility or obligation called fiduciary duties to their clients, both buyers and sellers. Therefore it is always very important to keep this at the forefront of their dealings in other to avoid soiling their reputation and integrity. Therefore, even though the stock offered to ADAP advisers is at substantial discount, ADAP advisers must ensure that the stock is a suitable investment for it's customers before offering it to them.
The fact that ADAP purchased the stick on it's own account may reasonably infer that the stick is not a suitable investment for it's customers.
write 3 importance/ benefits of life insurance.
Answer:
A life insurance policy can pay off any debts that you leave behind that would be a burden to your family. Debts such as a mortgage, credit cards, car loans and even your funeral expenses can have a dramatic impact on your family and their lifestyle.
Explanation:
Any debts that you leave behind and that would be a burden on your family can be paid off by a life insurance policy. Debts like a mortgage, credit card debt, auto loans, and even funeral costs may significantly affect your family's livelihood.
By purchasing life insurance, you may shield your spouse and kids from the potentially catastrophic financial losses that could arise in the event of your passing. It offers financial stability, aids in debt repayment, assists in covering living expenditures, and aids in covering any last or medical costs.
The vast majority of experts concur that you absolutely must obtain life, health, long-term disability, and car insurance. Small company owners, working parents, stay-at-home parents, retirees, childless singles, and empty nesters all stand to gain from life insurance, in general.
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3. What does the segment suggest to guard against employee misuse of workplace technology? *
Answer:
Economics
Explanation:
The Housing Financial Discrimination Act (Holden Act) prohibits all financial institutions from discriminating in real estate loan approvals based on the geographic location, the neighborhood, or any other characteristic of the property, known as:
Answer:
Redlining
Explanation:
Redlining stems from discrimination that consists denial of services, maybe financial based on the group one may fall under such as race, ethnicity or location. The Holden act(1977) is a real estate act of California meant to protect individuals from discriminations such as ones that involve denial of mortgage loan on the basis of something other than the credit worthiness of the individual . These discriminations could take the form of mortgage loan and, insurance loan denials or other financial services based on creditworthiness history of the group the person may fall under and not necessarily the individual's qualifications on his own
Shelley has been hired as a marketing specialist at a large, international firm. On Shelley's first day of work, she attends an orientation session. Which of the following is LEAST likely to be addressed during Shelley's orientation program?
a. Company policies and rules
b. Organizational structure
c. Daily and weekly task requirements
Answer: Daily and weekly task requirements
Explanation:
From the question, we are informed that Shelley has been hired as a marketing specialist at a large, international firm and that on Shelley's first day of work, she attends an orientation session.
The least likely to be addressed during Shelley's orientation program will be the daily and weekly task requirements. This is because this is really not important at the orientation.
There are other important things to talk about such as the organization Structure, company policies etc.
A small publishing company is planning to publish a new book. The production costs will include one-time fixed costs (such as editing) and variable costs (such as printing). The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores at a price of 25.25 per book. How many books must the publisher produce and sell so that the production costs will equal the money from sales
Answer:
Break-even point in units= 2,984 units
Explanation:
Giving the following information:
The one-time fixed costs will total 49982. The variable costs will be $8.50 per book. The publisher will sell the finished product to bookstores for 25.25 per book
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 49,982/ (25.25 - 8.5)
Break-even point in units= 2,984 units
Transformational leaders: Group of answer choices Follow what top management sets as its goals for the organization Connect the follower's behavior to the collective identity of the organization Causes change in individuals and social systems Empower employees to act based on their ethical goals and values
Answer:
Causes change in individuals and social systems
Explanation:
Transformational leaders causes change in individuals and social systems
Enter the following transactions in the cash book of Sudhir & sons
j jl Ulrich upvpici jl ljc
A federal bank examiner came to a bank in Jacksonville. He audited the books and he checked out the staff and the office facilities. He checked the public rooms and the lunch room. Everything was thoroughly examined. Later, he charged the branch manager with a violation of the Federal Fair Housing Act because he did not see:
Answer:
Eminent domain for the public good.
Explanation:
He charged the branch manager because he didn't see eminent domain for public use.
In eminent domain the government, the government the government has the power to take private property for public use.
The bank is a public place and as such are required to have a public domain that is members of the public or for civic use. Such a party is likely going to be for public use or it could be delegated to third parties.
Sara has a loan with an interest rate of 2% now, but according to the terms and conditions, the interest rate could quadrupole after 18 months. What term best summarizes the situation?
Answer: Variable interest rate loan
Explanation:
Given, Sara has a loan with an interest rate of 2% now, but according to the terms and conditions, the interest rate could quadrupole after 18 months.
That means the interest rate will change after 18 months.
The term that summarize the situations would be "variable interest rate loan"
A variable interest rate loan is defined as a loan in which the interest rate charged on the current balance fluctuates over time as market interest rates changes. It mostly generate more interest.Once a document conveying an interest in real property is placed in the public records it is binding on the public, whether or not they make an effort to learn of it. Based on the common law tradition, this policy is known as the:________.
a. Statute of Frauds
b. doctrine of constructive
c. notice habendum clause
d. actual notice
Answer:
b. doctrine of constructive
Explanation:
According to the doctrine of constructive, the company or the people under the provisions of the companies law should have the knowledge of memorandum of association and the article of association but there is an exception towards the indoor management
Here in the given situation, represents the doctrine of constructive scenario
Hence, the correct option is B.
