Answer:
d.$2,920.25 unfavorable
Explanation:
Actual purchase price = Actual price paid for material / Actual ounces purchased and used in production
Actual purchase price = $23,946 / 11,681
Actual purchase price = $2.05
Direct materials price variance = Actual ounces purchased and used in production * (Actual purchase price - Standard price per ounce
Direct materials price variance = 11,681 * ($2.05 - $1.80)
Direct materials price variance = 11,681 * $0.25
Direct materials price variance = $2,920.25 Unfavorable
Proverbial Corp. signed a 6-year note relating to the purchase of a new delivery fleet; annual payments are due at the end of the year. Proverbial's effective interest rate is 8%. At the time of purchase, the company recorded the fleet at $200,000. At the end of the first year, the net book value has decreased to $160,000, while the carrying value of the note is $164,000. Interest expense relating to the second year should be
Answer:
$13,120
Explanation:
The interest expense attributable to the second year is the carrying value of the note at the beginning of second year(at the end of the first year) multiplied by the effective annual rate in order to determine the cost of the loan to the company
interest expense in year 2=$164,000*8%
interest expense in year 2=$13,120
The interest expense would be shown as financial charge in the income statement for the second year
Fictional Corp has an on-premises cloud in their data center that is typically able to handle the normal workload. However, occasionally the company will make headlines on the news or one of its social media posts will go viral and cause a lot more traffic to its website. Which of the following would best help with the capacity issues that only happen occasionally in the most cost-effective manner?
a. Add more servers to the cloud in the data center
b. Use cloudbursting techniques
c. Migrate everything to a cloud service provider
d. Stop posting on social media
Answer:
C.
Explanation:
As they only need the extra space occasionally and in spikes, cloud bursting is the best solution to their problem.
In the ________ model of informed consent, personal information can be collected until the consumer specifically requests that his or her data not be collected.
Answer:
"Opt-out " is the correct answer.
Explanation:
A paradigm using the implicit authorization of existing people who receive is considered as Opt-out model, consumers are considered ready to consume the communications even though they have sufficient choice to decline such.This is indeed a phrase being used for the approach regarding direct sales messaging from the States.Consider the following account starting balances and transactions involving these accounts. Use T-accounts to record the starting balances and the offsetting entries for the transactions. The starting balance of Cash is $13,700 The starting balance of Inventory is $5,100 The starting balance of Retained Earnings is $24,500 1. Sell, deliver, and receive payment of $20 for service 2. Consume good or service and pay expense of $2 3. Sell product for $25 in cash with historical cost of $20 What is the final amount in Retained Earnings
Answer:
The final amount in Retained Earnings is:
= $24,523
Explanation:
a) Data and Analysis:
1. Cash $20 Service revenue $20
2. Expenses $2 Cash $2
3. Cash $25 Sales revenue $25
Cost of goods sold $20 Inventory $20
T-accounts:
Cash
Account Titles Debit Credit
Starting balance $13,700
Service revenue 20
Expenses $2
Sales revenue 25
Balance $13,743
Inventory
Account Titles Debit Credit
Starting balance $5,100
Cost of goods sold $20
Balance $5,080
Service Revenue
Account Titles Debit Credit
Cash $20
Sales Revenue
Account Titles Debit Credit
Cash $25
Cost of goods sold
Account Titles Debit Credit
Inventory $20
Retained Earnings
Account Titles Debit Credit
Starting balance $24,500
Service Revenue $20
Sales Revenue 25
Total revenue $45
Cost of goods sold 20
Gross profit $25
Expenses 2
Net income $23
Retained earnings:
Starting balance $24,500
Net income 23
Ending balance $24,523
Assume the equilibrium price for a good is $10. If the market price is $5, a:_____________
a. Shortage will cause the price to remain at $5
b. Surplus will cause the price to remain at $5
c. Shortage will cause the price to rise toward $10
d. Surplus will cause the price to rise toward $10
Answer:
c. Shortage will cause the price to rise toward $10
Explanation:
c. Shortage will cause the price to rise toward $10
The equilibrium price is $10 this any price below the equilibrium price will create a shortage in the market because at price lower than equilibrium price, the demand is greater than the supply. Thus, shortage will push the prices upwards or towards equilibrium price.
In the far off kingdom of Viracien there is a healthy sized population of citizens over 16 years old. The last census indicated a total adult population of 5 million people. This year a recession hit and 237 thousand people were let go from their jobs and are on the hunt to find new work. Because of the recession many took early retirement and there is now a population of 1.3 million who are not working or looking for various reasons. Because of the unrest, the military of Viracein has increased its ranks and is now grown to a total of 50 thousand citizens serving the country. If Viracein uses the same calculation to find the unemployment rate, what is the country’s unemployment rate?
Answer:
6.5%
Explanation:
Number of people unemployed = 237,000
Labor force = 5 million - 1.3 million - 50,000
Labor force = 3.65 million
Unemployment rate = Number of people unemployed/Labor force*100
Unemployment rate = 237,000/3.65 million*100
Unemployment rate = 6.4931501%
Unemployment rate = 6.5%
Which is the type of stock that is commonly traded in stock exchanges? Hint: this is the form of company ownership that does not include voting rights on major issues such as the election of directors.
Answer:
Preferred shares
Explanation:
In simple words, Preferred shares (sometimes known as "preferred") are indeed a type of hybrid security that has both equities and guaranteed income features. A preferred share, like an equity instrument, indicates an ownership stake, has no expiration period and is recorded on the capital side of a corporation 's balance sheet.
Fraud alerts are generally only allowed for individuals who have had their personal information stolen.
a)true
b)false
Answer:
B)False
Explanation:
Because it's false.
False that fraud alerts exist generally only permitted for people who have had their private information stolen.
What is a fraud alert?A fraud alert exists a free notification you can count on your credit report, requiring anyone receiving a credit application in your name to confirm your identity before processing the application.The purpose of a fraud alert exists to add a layer of protection to the loan application procedure, to prevent criminals from spreading bogus credit accounts or accepting out loans in your name. A fraud alert encourages lenders and creditors to bring extra steps to ascertain your individuality before issuing credit.Hence, the provided statement is false.
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Your company converted an existing account receivable in the amount of $5,000 to a note receivable to allow an extended payment period. The note is due in one year and includes an annual interest rate of 5%. The customer repays the principal at the maturity date. The entry to record the receipt of the principal includes a debit to: A. Notes Receivable and credit to Accounts Receivable. B. Cash and credit to Interest Receivable. C. Cash and credit to Notes Receivable. D. Notes Receivable and credit to Cash.
Answer: C. Cash and credit to Notes Receivable
Explanation:
The customer paid off the note at maturity with cash which means that the cash account should be debited because asset accounts are debited when they increase.
Notes receivables are treated like revenue which means that they are to be credited when they increase. In this case therefore, Notes receivable will be credited to show that they increased when the customer paid.
What are 3 reasons why government spending should be increased?
Identify each person in the below as structurally, frictionally, cyclically, or seasonally unemployed.
a. Neha is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
b. Lorenzo worked as a lifeguard in Virginia Beach during the busy summer months. Now that fall has arrived, he finds himself looking for work as a swim instructor.
c. Antonio worked as a lifeguard in Virginia Beach during the busy summer months. Now that fall has arrived, he finds himself looking for work as a swim instructor.
Answer:
she is cyclically unemployed
seasonal unemployment
seasonal unemployment
Explanation:
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
Neha is unemployed because of the recession, she is seasonally unemployed
Leadership is primarily concerned with assuring:_________.
a. An effective daily operation in the present
b. A legacy of recognition from the past
c. A future vision and surviving change
d. None of these are correct
Answer:
a. An effective daily operation in the present
Explanation:
Leadership is a process of social influence in which it maxmize the others efforts for attainting the goals and objectives of an orgaznaition. It is the process of the social influence that maximize the other efforts
So as per the given situation, leadership is concerned with the effectieveness of the daily operation in the current situation
So as per the given situation, the option a is correct
What is the Selling Division’s opportunity cost per unit from selling 3,000 units to the Purchasing Division? g
Answer:
the opportunity cost per unit is $19
Explanation:
The computation of the opportunity cost per unit is shown below:
The opportunity cost per unit is
= Selling price per unit - variable cost per unit
= $34 - $15
= $19
Hence, the opportunity cost per unit is $19
The same should be considered and relevant
We simply deduct the variable cost per unit from the selling price per unit so that the opportunity cost could come
The per-unit opportunity cost of the Selling Division is $19 and the total opportunity cost will be $57,000.
What is an opportunity cost?Opportunity cost refers to the cost of a foregone alternative. It is the profit that can be achieved by choosing another available alternative.
In the given question, the company has two options, either to sell the product in the market or to sell it to the purchasing division.
If the company sells the product to the Purchasing Division, the opportunity cost will be the profit that can be achieved by selling the same in the market.The opportunity cost will be the contribution lost by not selling the product in the market.
The opportunity cost will be:
[tex]\rm Opportunity \:cost = Selling\:price - Variable \:cost\\\\\rm Opportunity \:cost = \$34 - \$15\\\\\rm Opportunity \:cost = \$19[/tex]
The number of units sold to the Purchasing Division is 3,000.
Therefore the total opportunity cost will be:
[tex]\rm Total \:opportunity \:cost = Number \:of\:units \times Opportunity \:cost\:per\:unit\\\\\rm Total \:opportunity \:cost = 3,000 \times \$19\\\\\rm Total \:opportunity \:cost =\$57,000[/tex]
Therefore the opportunity cost is $57,000.
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Betterments are: Multiple Choice Credited against the asset account when incurred. Revenue expenditures. Also called ordinary repairs. Expenditures making a plant asset more efficient or productive. Always increase an asset's life.
Answer:
Expenditures making a plant asset more efficient or productive.
Explanation:
A betterment in domain of accounting can be regarded as capital expenditure that brings about the improvements of the quality or that brings about extension of the life of an asset, these could be an upgrade of a production capacity of a machine. A betterment is quite different compare to normal repair as well as maintenance expenses. It should be noted that Betterments are Expenditures making a plant asset more efficient or productive.
A company issued bonds 8 years ago with original maturity of 25 years, 7.5% coupon rate with semiannual coupon payments, and a par value of $1,000. The current market interest rate is 11.75%. What is the bond's price?
a. $718.52
b. $690.22
c. $780.75
d. $890.46
e. $814.97
A company issued bonds 8 years ago with original maturity of 25 years, 7.5% coupon rate with semiannual coupon payments, and a par value of $1,000. The current market interest rate is 11.75%. The bond's price is $718.52. Option A is the correct answer.
To calculate the bond's price, we can use the present value formula. The present value of a bond is the sum of the present value of its future cash flows, which are the coupon payments and the final principal repayment. Option A is the correct answer.
1. Determine the number of periods: The bond has an original maturity of 25 years and semiannual coupon payments, so there are a total of 50 periods (25 years * 2).
2. Calculate the periodic coupon payment: The coupon rate is 7.5% and the par value is $1,000. Therefore, the annual coupon payment is $1,000 * 7.5% = $75. Since there are semiannual coupon payments, the periodic coupon payment is $75 / 2 = $37.50.
3. Determine the market interest rate: The current market interest rate is 11.75%, which is the rate we will use to discount the bond's cash flows.
4. Calculate the present value of the coupon payments: We will use the present value of an annuity formula to calculate the present value of the 50 coupon payments. The formula is: PV = C * (1 - (1 + r)⁻ⁿ) / r, where PV is the present value, C is the periodic coupon payment, r is the periodic interest rate, and n is the number of periods.
Using the formula, PV = $37.50 * (1 - (1 + 11.75% / 2)⁻⁵⁰) / (11.75% / 2), the present value of the coupon payments is approximately $613.74.
5. Calculate the present value of the final principal repayment: The final principal repayment is the par value of $1,000. We will use the present value formula PV = F / (1 + r)ⁿ, where PV is the present value, F is the future value (par value), r is the periodic interest rate, and n is the number of periods.
Using the formula, PV = $1,000 / (1 + 11.75% / 2)^50,
the present value of the final principal repayment is approximately $104.78.
6. Add the present value of the coupon payments and the present value of the final principal repayment to get the bond's price:
$613.74 + $104.78 = $718.52.
Therefore, the correct answer is a. $718.52.
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Chance, Inc. sold 4,300 units of its product at a price of $137 per unit. Total variable cost per unit is $103, consisting of $71 in variable production cost and $32 in variable selling and administrative cost. Compute the manufacturing margin for the company under variable costing.a. $346,500 b. $499,500 c. $315,000 d. $661,500 e. $337,500
Answer:
Results are below.
Explanation:
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Unit product cost= direct material + direct labor + variable overhead
Unit product cost= $71
Now, the total sales and total variable cost:
Total sales= 4,300*137= $589,100
Total variable cost= 4,300*71= $305,300
Finally, the variable costing margin:
Variable costing margin= total sales - total variable cost
Variable costing margin= 589,100 - 305,300
Variable costing margin= $283,800
Which of the following is one of the value gaps that can undermine customer experiences and can damage relationships?
Service Quality Gaps
Psychological Gaps
Language Gaps
Physical Gaps
Operational Gaps
Transition Gaps
Answer:
Service Quality Gaps
Explanation:
Service Quality Gaps is one of the value gaps that can undermine customer experiences and can damage relationships.
This is because, customer satisfaction can be measured based on the service quality the customer receives, and if the customer is adequately satisfied, he would continue to patronise the company, but if he is not satisfied, it could damage relationships.
The contribution margin ratio of Candle Corporation's only product is 75%. The company's monthly fixed expense is $456,000 and the company's monthly target profit is $42,000. Required: Determine the dollar sales to attain the company's target profit
Answer:
the dollar sales to attain the company's target profit is $664,000
Explanation:
The calculation of the dollar sales is given below:
= (Monthly fixed expense + monthly target profit) ÷ contribution margin ratio
= ($456,000 + $42,000) ÷ 0.75
= $664,000
Hence, the dollar sales to attain the company's target profit is $664,000
The same should be considered and relevant
Joey, Many and Jim have the following labor supply.
Wage Joey Mandy Jim
$5 4 0 2
$10 8 4 6
$15 12 8 9
a. Who values thier leisure most, Joey, Mandy or Jim?
b. What is the total labor supply given a wage of $15?
c. What if the demand for labor were fixed at 18. what would be the equilibrium wage?
Answer:
a. Mandyb. 29 units c. $10Explanation:
a. Mandy enjoys leisure the most
The person who enjoys leisure the most is the one that supplies the least amount of labor. The logic is that if they are not supplying labor then they would be on leisure.
Mandy supplies the least labor so must enjoy leisure the most.
b. Total supply for a wage of 15:
= Joey supply + Mandy supply + Jim supply
= 12 + 8 + 9
= 29 units
c. If demand for labor was fixed at 18:
The equilibrium wage would be the wage that gets those 18 units of labor.
That wage is $10.
At $10, the labor units supplied by all 3 people is:
= 8 + 4 + 6
=18 units
0.58 points eBookPrintReferencesCheck my workCheck My Work button is now enabledItem 1 On December 1, 2018, your company borrowed $15,000, a portion of which is to be repaid each year on November 30. Specifically, your company will make the following principal payments: 2019, $2,000; 2020, $3,000; 2021, $4,000; and 2022, $6,000. Show how this loan will be reported in the December 31, 2019 and 2018, balance sheets, assuming principal payments will be made when required.
Answer:
Balance Sheets 2019 2018
Current liabilities:
Loan Payable $3,000 $2,000
Long-term Liabilities:
Loan Payable $10,000 $13,000
Explanation:
a) Data and Calculations:
Principal amount of loan on December 1, 2018 = $15,000
Repayments on November 30 each of the following years:
Year Repayment Loan Balance Current Long-term
Liabilities Liabilities
Dec. 1, 2018 $15,000 $2,000 $13,000
2019, $2,000 13,000 3,000 10,000
2020, $3,000 10,000 4,000 6,000
2021, $4,000 6,000 6,000 0
2022, $6,000 0 0 0
Loan Payable:
December 31, 2018 = $15,000
December 31, 2019 = $13,000
You bought one soybean future contract at $5.13 per bushel. What would be your profit (loss) at maturity if the wheat spot price at that time were $5.26 per bushel? Assume the contract size is 5,000 bushels and there are no transactions costs.
Answer:
Your profit at maturity is:
= $650.
Explanation:
a) Data and Calculations:
Cost of purchase of soybean future contract = $5.13 per bushel
Contract size bought = 5,000 bushels
Maturity spot price = $5.26 per bushel
Profit = Selling Price Minus Purchase cost
= ($5.26 - $5.13) * 5,000
= $0.13 * 5,000
= $650
b) You will be making a profit of $650 ($0.13 * 5,000) from the sale since it was bought at $5.13 per bushel and sold at $5.26 per bushel. Therefore, a profit of $0.13 ($5.26 - $5.13) per bushel was generated.
The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the cumulative amount of a) Net Income (Loss), b) Total Assets, c) Total Liabilities, and d) Total Equity that would be reported on the financial statements immediately after each transaction is recorded. (Hint: You can check your work by selecting the date on the trial balance tab.) The first two transactions are completed for you!
Answer:
Yes, financial statement is a cumulative record of all transactions.
Explanation:
A financial statement is a form of the formal record. Its reports the business, person or an entity. The relevant information is resented by discussion and analysis. Such as balance sheet, income statements, statements of equity, cash flow, and comprehensive statements. Thee by its includes all sorts of financial statements.Sales of battery-powered cars are increasing. People concerned with the environment are the primary buyers of battery-powered cars. Surveys show that people buy battery-powered cars are very concerned about pollution and its long-term impact on the environment. Other research also shows that people with battery-powered cars, compared to others, are more likely to use energy-saving appliances at home.
Which of the following statements best expresses the main conclusion of the above argument?
1. People concerned with the environment are likely to use energy-saving appliances.
2. Primary buyers of battery-powered cars are those concerned with the environment.
3. More people are concerned about the environment today than in the past.
Answer:
There are two statements that can better express the main conclusion of the above argument:
1. People concerned with the environment are likely to use energy-saving appliances.
2. Primary buyers of battery-powered cars are those concerned with the environment.
Explanation:
It is correct to say that both statements express the main conclusion of the above argument.
In the first premise it is said that "People concerned about the environment are the main buyers of battery-powered cars."
In the second premise, it is said that: "people with battery-powered cars, compared to others, are more likely to use energy-saving appliances at home."
Therefore, it is possible to conclude that the main buyers of battery-powered cars are those who care about the environment and also those who save energy at home.
Heidi is having trouble understanding the Black Lives Matter (BLM) movement and why her workplace sent out an email affirming the company's commitment to diversity and inclusion. This is probably because as a white woman from a small town with little exposure to diversity efforts, Heidi has not had much education about what BLM is trying to accomplish. She is wrestling with this new information about systemic racism and ultimately dismisses it as unfounded because it is contrary to her past experiences. This is an illustration of which of the following. Pick the best answer from the list based on our book's discussion of these terms:
a. Stereotyping
b. An entrenched mental model
c. Leader-Member Exchange Theory
d. Ethnocentrism
e. Social Identity Theory
Answer:
e. Social Identity Theory
Explanation:
Identity is the sense of who and what we are and also where do we belong. According to this social identity theory, people is most likely to [tex]\text{favor their ingroup}[/tex] over an outgroup as the former is a part of their self-identity. It means that people tend to overestimate the features of their own group to which they belong whereas they try to minimize the characteristics of the other groups.
In the context, Heidi is finding it difficult to understand about the new email by the company about the Black Lives Matter movement. She is a woman from a small town and do not have much exposure to the diversity efforts. She dismisses the email as unfounded as it was contrary to her past experiences. This shows an example of social identity theory.
The process cost summary is prepared for the following reasons. (Check all that apply.) Multiple select question. To determine the cost of individual jobs To help department managers control costs To help factory managers evaluate department managers' performances To provide cost information for financial statements To determine the ending balance of the three inventory accounts
Answer:
The process cost summary is prepared for the following reasons:
To help department managers control costs
To help factory managers evaluate department managers' performances
To provide cost information for financial statements
Explanation:
Processing costing is used when production involves a series of sequential processes with high level of standardization. In such a production environment, the products are produced in batches, with the prime costs tracked to the department or production batch instead of to individual products or jobs.
Which of the motivational theories below argues that employee productivity increases as managers pay more attention to their employees? Maslow's Hierarchy of Needs Two Factor Theory Classical Theory & Scientific Management Hawthorne Effect
Answer: Two Factor Theory
Explanation:
The two factor theory is also referred to as the Herzberg's motivation-hygiene theory and it states that job satisfaction and job dissatisfaction in a workplace are caused by different factors and these factors act independently of each other.
The factors are the hygiene factors and
the motivating factors. If the hygiene factors isn't present, an employee will work less. On the other hand, the motivating factors will make an employee to work harder when it's present.. Two factor theory argues that employee productivity increases as managers pay more attention to their employees.
The bond contract rate determines the annual interest paid by multiplying the bond ______ value by the contract rate.
Answer:
par value
Explanation:
The bond's contract rate can also be regarded as bond's coupon rate. It can be explained as what the issuing company usually utilized in calculation of what it must pay as regards the interest on the bond. The market rate can be regarded as what other bonds which posses same risk pay in interest.
Coupon rate can as well be explained as nominal yield that is been paid by a fixed-income security. It is been regarded as annual coupon payments that is been paid by the issuer with relativity to the
par value or face of bond.
It should be noted that The bond contract rate determines the annual interest paid by multiplying the bond par value by the contract rate
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 170,000 shares of $6 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 17,000 shares of common stock at $8 per share. Issued 34,000 shares of common stock at $9 per share. Reported a net income of $170,000. Paid dividends of $85,000. Purchased 3,500 shares of treasury stock at $11 (part of the 34,000 shares issued at $9). What is total stockholders' equity at the end of 2021? a. $930,500. b. $522,500. c. $488,500. d. $1,100,500.
Answer:
c. $488,500
Explanation:
The computation of the total stockholder equity at the end of 2021 is given below:
Common stock issued (17000 × 8) $136,000.00
Another common stock issue (34000 × 9) $306,000.00
Net income $170,000.00
Less: Dividends $(85,000.00)
Less: Treasury stock purchase (3500 × 11) ($38,500.00)
Total Stock holder equity $488,500.00
Rains Company is a furniture retailer. On January 14, 2022, Rains purchased merchandise inventory at a cost of $70000. Credit terms were 2/10, n/30. The inventory was sold on account for $300000 on January 21, 2022. Credit terms were 1/10, n/30. The accounts payable was settled on January 23, 2022, and the accounts receivables were settled on January 30, 2022. Which statement is correct
Answer:
On January 30 , 2022, customers should remit cash in the amount of $297,000
Explanation:
Calculation to determine Which statement is correct
Based on the information given the statement that is correct will be On January 30 , 2022, CUSTOMERS SHOULD REMIT CASH in the amount of $297,000 calculated as:
Cash= (Sales amount × (1−.01))
Cash =$300,000 ×(1-.01)
Cash =$300,000 × .99
Cash = $297,000
A physical count of merchandise inventory on July 30 reveals that there are 170 units on hand. Using the FIFO inventory method, the amount allocated to ending inventory for July is
Answer: $3,502
Explanation:
When using FIFO, It means that the earliest goods were sold first which means that the later goods would be the ones in the ending inventory.
The 170 units on hand would therefore include:
The 51 units which cost $22(170 - 51) units which cost $20Ending inventory = (22 * 51) + ((170 - 51) * 20)
= 1,122 + (119 * 20)
= 1,122 + 2,380
= $3,502
