"The amount that Bell Inc. should report as inventory at the end of the year is $870,000.
To determine the correct amount to report as inventory, we need to consider the goods on hand, the goods in transit, and the goods out on consignment.
1. Goods on hand: This is the value of the inventory physically counted at the company's premises at the end of the year. According to the information provided, this amount is $780,000.
2. Goods in transit: These are goods that have been shipped but not yet received at the company's premises. The treatment of goods in transit depends on the shipping terms. In this case, the goods were shipped F.O.B. (Free On Board) shipping point, which means the ownership of the goods transfers to the buyer at the point of shipment, and the buyer (Bell Inc.) bears the risk of loss during transit. Since the goods were received two days after the inventory count, they should be included in the inventory as they were owned by Bell Inc. at the year-end. The value of these goods is $60,000.
3. Goods out on consignment: These are goods that are in the possession of another party (the consignee) but are still owned by the company (the consignor). Since Bell Inc. retains ownership of these goods, they should be included in the company's inventory. The value of the goods out on consignment is $90,000.
Adding these amounts together, we get:
Inventory at the end of the year = Goods on hand + Goods in transit + Goods out on consignment
Inventory at the end of the year = $780,000 + $60,000 + $90,000
Inventory at the end of the year = $870,000 + $60,000
Inventory at the end of the year = $930,000
However, upon reviewing the calculation, it appears there was an error. The correct calculation should not add the $60,000 of goods in transit twice. The correct inventory amount is obtained by adding the goods on hand, the goods in transit, and the goods out on consignment only once:
Inventory at the end of the year = Goods on hand + Goods in transit + Goods out on consignment
Inventory at the end of the year = $780,000 + $60,000 + $90,000
Inventory at the end of the year = $870,000
Therefore, Bell Inc. should report $870,000 as the inventory at the end of the year."
True or false: if a company with low automation wanted to invest in a single area that exclusively lowers labor costs, they would select qit (quality initiative training).
TRUE. The TQM are permits teams with an established policy to venture in areas which will convenience them the most. For example, if a team produces a policy that offers labor cost so it can complete R&D projects faster, it would want to invest in Quality Initiative Training, which reduces labor cost.
Researchers sample 4 comma 0004,000 households concerning tv shows they watch. based on the sample 1616% reported watching 60 minutes. what is the 95% confidence interval for the proportion of all americans that watch 60 minutes?
Final answer:
To determine the 95% confidence interval for the watching habits of all Americans, we use a formula involving the sample proportion, the Z-score for the desired confidence level, and the sample size. After the necessary calculations that include finding the standard error and margin of error, the confidence interval can be established for the proportion of viewers.
Explanation:
To calculate the 95% confidence interval for the proportion of all Americans that watch the TV show 60 minutes, based on the 16% reported from the sample of 4,000 households, we use the formula for a confidence interval for a proportion:
CI = π ± Z*(√(π(1-π)/n))
Here, π is the sample proportion (0.16), Z is the Z-score corresponding to the 95% confidence level (which is approximately 1.96), and n is the sample size (4,000).
First, we calculate the standard error (SE):
SE = √(π(1-π)/n) = √(0.16(1-0.16)/4000)
Then, we calculate the margin of error (ME):
ME = Z*SE = 1.96*√(0.16(1-0.16)/4000)
Finally, to find the confidence interval, we add and subtract the ME from the sample proportion:
CI = 0.16 ± ME
After performing the calculations, you get the 95% confidence interval for the proportion.
The fedâs three basic tools operate by adjusting interest rates (rental price of money) and the __________ of money.
The FEDAS three basic tools operate by adjusting interest rates (rental price of money) and the supply of money.
What are Interest rates?The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rates. The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing was made.
The amount that the lender charges the borrower over and beyond the principal amount is referred to as the interest rates. A person who deposits money in a bank or other financial institution also earns additional income in terms of the recipient, known as interest, taking into account the time value of money.
Therefore the interest rates affected by the economy's health and people's propensity to save money. In a free market where supply and demand are in play, interest rates are set. the inflation rate, the borrower's level of risk and the interest's tax treatment.
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Charlotte was born to a lower class family in rural pennsylvania. after taking a job in the mail room of a large corporate office, charlotte is slowly promoted through the ranks and becomes ceo of the company by the age of 50. what type of stratification is shown in this story?
The type of stratification shown in the story is intragenerational mobility. The reason why it is defined to be an intragenerational mobility is because in this course, it is trying to be refer the changes that takes place in a person’s life and how it affects the person’s social mobility. It is seen above as in the story, it shows how Charlotte’s life progress and how changes occurs in her social mobility, starting from her history down to how it progress of her, having a better life until the age of 50 when she became a ceo at the company which is much different now than she was still a child.
A conventional cash flow pattern associated with capital investment projects consists of an initial ________.
The parenting style which takes the concerns of all family members into account when making decisions is __________. permissive democratic authoritarian all of the above
What would happen to your net worth if you sold a tangible asset you owned for $1,000 and used the money to pay off your credit card balance for $1,000?
If you sold a tangible asset you owned for $1,000 and used the money to pay off your credit card balance for $1,000, then your net worth would remain the same.
To add, the concept applicable to individuals and businesses as a key measure of how much an entity is worth is called net worth.
Disability income policies usually have a(n) _____, which is a time delay from the date of the issuance of the policy until benefit privileges are activated.
A sole proprietor of a farm implement store sold a truck for $15,000 that had been used to make service calls. the truck cost $30,000 three years ago, and $21,360 depreciation was taken. what is the appropriate classification of the $6,360 gain for tax purposes?
a. section 1231 gain.
b. long-term capital gain.
c. ordinary gain.
d. short-term capital gain
The $6,360 gain from the sale of a truck used in a farm implement store is classified as a Section 1231 gain since it's from a business asset held for more than one year. The correct option is a.
The gain on the sale of the truck used for service calls in a farm implement store would be classified as a Section 1231 gain. The truck was a business asset that was held for more than one year, originally costing $30,000 with $21,360 in depreciation taken. Upon selling the truck for $15,000, the sole proprietor realized a gain of $6,360. Since the asset was used in a trade or business and was held for longer than one year, the gain is treated as Section 1231 gain, which is subject to preferential tax treatment and may be taxed at long-term capital gains rates if positive Section 1231 gains exceed Section 1231 losses for the tax year.
In terms of the evolution of payment and exchange, wage labor is more developed than piecework payment because under wage labor:
Mayan company had net income of $33,250. the weighted-average common shares outstanding were 9,500. the company sold 4,500 shares before the end of the year. there were no other stock transactions. the company's earnings per share is:
The company’s earnings per share would still be based on the common shares outstanding of 9,500. This is because the 4,500 selling transaction is not yet accounted for that last accounting period. Therefore,
Earnings per share = $33,250 / 9,500 shares
Earnings per share = $3.5 per share
Answer : The company's earnings per share is, 3.50
Explanation :
As we are given that:
Net income = $33,250
Share outstanding = 9500
Earning per share = [tex]\frac{\text{Net income}}{\text{Share outstanding}}[/tex]
Earning per share = [tex]\frac{33250}{9500}[/tex]
Earning per share = 3.50 per share
Thus, the company's earnings per share is, 3.50
A high-ranking manager who advocates the project and uses her or his influence to gain approval of the project is a project
What condition is being met when goods are being produced and sold at the lowest possible average cost?
Final answer:
Productive efficiency means producing without waste, so that the choice is on the production possibility frontier. In a perfectly competitive market, firms produce and sell goods at the lowest possible average cost.
Explanation:
Productive efficiency means producing without waste, so that the choice is on the production possibility frontier. In the long run in a perfectly competitive market, because of the process of entry and exit, the price in the market is equal to the minimum of the long-run average cost curve. In other words, firms produce and sell goods at the lowest possible average cost.
Monopolistic competitors in the food industry will often include a recyclable symbol on packaging used for their product as a means to
A _____________ allows for an mtu as high as 9198 bytes.â
If cherries cost twice as much as dates, and the last cherry consumed provides twice as much utility as the last date consumed, the consumer is maximizing utility.
a. True
b. False
Two key components of corporate profitability are _________ and _________.
Suppose that disposable income, consumption, and saving in some country are $800 billion, $700 billion, and $100 billion, respectively. next, assume that disposable income increases by $80 billion, consumption rises by $56 billion, and saving goes up by $24 billion.
a. what is the economy’s mpc?
The economy's MPC is calculated as the increase in consumption divided by the increase in disposable income, which is 0.7 in this scenario. The MPS is the remainder after accounting for consumption, which is 0.3, given MPC + MPS = 1.
Explanation:The marginal propensity to consume (MPC) is a key concept in economics that describes the proportion of additional income that is spent on consumption. According to the information provided, the economy's MPC can be calculated by dividing the increase in consumption by the increase in disposable income. With a consumption increase of $56 billion and an income increase of $80 billion, the MPC would be 0.7 (56/80). Similarly, the marginal propensity to save (MPS) describes the proportion of additional income that is saved. Since the MPS must be the remainder of the additional income that is not consumed, and given that MPC + MPS = 1, the MPS in this scenario would be 0.3 (24/80).
Understanding the MPC is crucial as it plays a role in predicting how consumption will change as income changes. If, hypothetically, income starts at zero, there should be some base level of consumption due to the necessity of sustaining life. Based on the assumption of $600 billion of consumption at zero income, this example shows us how the consumption function operates as income levels rise.
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Problem 10-3 eastman publishing company is considering publishing an electronic textbook about spreadsheet applications for business. the fixed cost of manuscript preparation, textbook design, and web-site construction is estimated to be $160,000. variable processing costs are estimated to be $6 per book. the publisher plans to sell single-user access to the book for $46. (a) build a spreadsheet model in excel to calculate the profit/loss for a given demand. what profit can be anticipated with a demand of 3,500 copies? for subtractive or negative numbers use a minus sign.
Given a demand of 3,500 copies, Eastman Publishing Company is expected to incur a loss of $20,000 according to our calculation.
Explanation:The question involves a fundamental concept in cost accounting and business management, requiring us to calculate the profit or loss for Eastman Publishing Company. In this case, we use the equation for Profit: Profit = Total Revenue - Total Cost. Total Revenue is calculated by multiplying the price per book ($46) by the quantity sold (in this question we are considering a demand of 3,500 copies). Total cost is calculated by adding the fixed costs ($160,000) and the variable costs (which are the product of the variable cost per book ($6) and the quantity sold).
So, the calculation would be: Profit = ($46 * 3,500) - ($160,000 + $6 * 3,500).
Profit = $161,000 - $160,000 - $21,000.
Therefore, the expected profit given a demand for 3,500 copies would be -$20,000. Consequently, the company would incur a loss with this level of demand.
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Given an interest rate of 14.6 percent per year, what is the value at t = 8 of a perpetual stream of $1,250 annual payments that begin t =25
To find the value at t = 8 of a perpetual stream of $1,250 annual payments beginning at t = 25 with a 14.6% interest rate, calculate the present value by discounting the future cash flows back to t = 8 using the formula PV = PMT / (r). The present value is $8,561.64.
Given an interest rate of 14.6 percent per year, what is the value at t = 8 of a perpetual stream of $1,250 annual payments that begin t =25?
To calculate the present value of a perpetuity starting at t = 25, we need to determine the value at t = 8 by discounting the future cash flows back to t = 8 using the present value formula.
Using the present value formula: PV = PMT / (r), where PV is the present value, PMT is the annual payment, and r is the interest rate. Substituting the values, PV = $1,250 / 0.146 = $8,561.64.
One consequence of providing an inaccurate operational definition of the properties we intend to measure is that the measurement will be:
In 2003, several investment banking firms were fined $1.4 billion for ethics abuse related to the underwriting process. will this be a deterrent for ethical lapses?
Janice creates advertising slogans for the advertising firm that she works with. she works with beliefs, perceptions, and informal obligations about what she is entitled to receive in return for what she provides to the organization. janice's beliefs represent a(n) __________.
Midyear on july 31st, the baldwin corporation's balance sheet reported: total assets of $166.859 million total common stock of $5.080 million cash of $8.040 million retained earnings of $36.411 million. what were the baldwin corporation's total liabilities?
A company's inventory balance at 12/31/16 was $191,600 and $204,000 at 12/31/15. its accounts payable balance at 12/31/16 was $88,000 and $83,600 at 12/31/15, and its cost of goods sold for 2016 was $724,000. the company's total amount of cash payments for merchandise in 2016 equals:
Part of vicky's job as a production supervisor is to instruct each department on what work to do and the time in which they have to complete their work assignments. this part of her job is known as
The part of Vicky's job as a production supervisor that involves instructing each department on work assignments and deadlines is known as work planning and scheduling.
Explanation:The part of Vicky's job as a production supervisor that involves instructing each department on work assignments and deadlines is known as work planning and scheduling. It is crucial for Vicky to ensure that all departments are aware of their tasks and the timeframe within which they need to be completed to ensure a smooth workflow and timely completion of the overall production.
"reducing taxes in response to a recession is an example of _____ policy."
The answer to this question is a Fiscal Policy. Fiscal policy is the ability of the Government to use taxes and its capacity to spend or expenditures to give an impact in the economy of the country. Fiscal policy is a tool that influenced or affects the economic activity of a country.
an information system will cost $95,000 to implement over a one-year period and will produce no savings during that year. When the system goes online the following year, the company will save $30,000 during the first year of operation. For the next four years, the savings will be $20,000 per year. Assuming a 5 percent discount rate, what is the NPV of the system
A machine with a cost of $65,000 has an estimated residual value of $5,000 and an estimated life of 5 years or 15,000 hours. it is to be depreciated by the units-of-production method. what is the amount of depreciation for the second full year, during which the machine was used 5,000 hours? $8,000 $12,000 $20,000 $21,667
if jason’s fixed cost totals $800 with variable cost per unit of $10 at a quantity of 100 units, what would his average total cost equal?