Answer:
Explanation:
Economic value added (EVA) = Net operating profit after taxes - Invested capital * cost of capital
= [($22,000,000 - $19,000,000)*(1 - 0.35)] - [$15,000,000*8%]
= $750,000
A ________ tariff is designed to raise the price of imported products so that domestic goods are more competitively priced. a. revenue b.progressivec. restrictive protective
Answer:
The correct answer is letter "D": protective.
Explanation:
Protective tariffs are the ones a country imposes over imports to protect domestic production. Typically, this type of tariff brings economic trade war between the countries imposing the tariffs since they affect the revenues especially of the exporter country.
A protective tariff is imposed to raise the cost of imported goods, making domestic ones more competitively priced. This helps protect domestic industries from foreign competition.
Explanation:A protective tariff is designed to raise the price of imported products so that domestic goods are more competitively priced. Protective tariffs aim to protect domestic industries from foreign competition by increasing the price of imported goods. For example, if the country imports cars, a protective tariff can be placed on those to make local cars cheaper in comparison, thereby favoring the domestic automotive industry.
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On April 1, the cash account balance was $19,850. During April, cash receipts totaled $301,720 and the April 30 balance was $14,290. Determine the cash payments made during April.
ANSWER
$307,280
EXPLANATION
Cash is an asset to a business and the most liquid of all of its assets.
Using the double-entry accounting system, cash transactions are recorded as follows:
Increase in cash Debit
Decrease in cash Credit
The cash balance at the end of the period is determined as follows:
$
Cash balance at the beginning xxx
Add cash receipt during the period xxx
Less cash payment made (xxx)
Cash balance at the end xxx
We can apply this to the question:
14,290 = 19850 + 301, 720 - y (let y denote cash payment )
y = 19,850 + 301,720 - 14,290
y = 307,280
cash payment made $307,280
Final answer:
The cash payments made during April were $307,280, calculated by subtracting the beginning balance and end balance from the total cash inflows.
Explanation:
To determine the cash payments made during April, we need to use the cash account information provided. We have the beginning balance, the cash receipts, and the ending balance. The formula to find the cash payments is:
End Balance = Begin Balance + Cash Inflows - Cash Outflows.
Let's plug in the numbers:
( $14,290 = $19,850 + $301,720 - Cash Outflows\)
By rearranging the equation to solve for cash outflows, we find:
Cash Outflows = Begin Balance + Cash Inflows - End Balance
Cash Outflows = $19,850 + $301,720 - $14,290 = $307,280.
Therefore, the cash payments made during April were $307,280.
Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy. Year 1 Year 2 Amounts billed to clients for services rendered $ 184,000 $ 234,000 Cash collected from clients 167,000 197,000 Cash disbursements Salaries paid to employees for services rendered during the year 97,000 107,000 Utilities 33,500 47,000 Purchase of insurance policy 62,100 0 In addition, you learn that the firm incurred utility costs of $38,500 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period.Prepare an income statement for each year according to the accrual accounting model.
Answer:
Answer in Attachment
Explanation:
The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as:
a. Myopia.
b. Nepotism.
c. Layering.
d. Siloing.
Answer:
d. Siloing.
Explanation:
Siloing is the present participle of the word silo which means isolated.
The tendency of employees in a functionally organized company to become fixated on their own concerns and work assignments to the exclusion of the needs of other departments is known as siloing because that particular employee is being isolated from other departments. This might include an IT system.
Diaz Company owns a milling machine that cost $126,600 and has accumulated depreciation of $92,600. Prepare the entry to record the disposal of the milling machine on January 3 under each of the following independent situations.
1. The machine needed extensive repairs, and it was not worth repairing. Diaz disposed of the machine, receiving nothing in return.
Record the disposal of the machine receiving nothing in return.
2. Diaz sold the machine for $17,500 cash.Record the sale of the machine for $17,500 cash.
3. Diaz sold the machine for $34,000 cash.
Record the sale of the machine for $34,000 cash.
4. Diaz sold the machine for $40,900 cash.
Record the sale of the machine for $40,900 cash.
Answer:
The Journal entries are as follows:
(i)
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
Loss on Disposal A/c Dr. $34,000
To Machine Equipment $126,600
(To record the disposal)
(ii)
Cash A/c Dr. $17,500
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
Loss on sale/disposal A/c Dr. $16,500
To Machine Equipment $126,600
(To record the sale)
(iii)
Cash A/c Dr. $34,000
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
To Machine Equipment $126,600
(To record the sale)
(iv)
Cash A/c Dr. $40,900
Accumulated Depreciation - Machine Equipment A/c Dr. $92,600
To Gain on sale/disposal A/c $6,900
To Machine Equipment $126,600
(To record the sale)
John Daniel opened a medical practice in Sacramento, California, and had the following transactions during the month of January.
Jan. 1 The business received $34,000 cash and issued common stock to Daniel.
2 Purchased medical supplies on account, $17,000.
4 Performed services for patients receiving $1,600.
12 Paid monthly office rent of $3,000.
15 Recorded $7,000 revenue for services rendered to patients on account.
Journalize the transactions of John Daniel, M.D. Include an explanation with each entry.
Answer:
Explanation:
The journal entries are shown below:
1. Cash A/c Dr $34,000
To Common stock A/c $34,000
(Being the cash is received in exchange of common stock)
2. Medical supplied A/c Dr $17,000
To Account payable A/c $17,000
(Being the medical supplies are purchased on account)
3. Cash A/c Dr $1,600
To Service Revenue A/c $1,600
(Being the cash is received for service performed)
4. Office Rent Expenses A/c Dr $3,000
To Cash A/c $3,000
(Being the office rent expense is paid for cash)
5. Accounts Receivable A/c Dr $7,000
To Service revenue A/c $7,000
(Being the service revenue is recorded)
The transactions of John Daniel, M.D. are recorded in a specific order: Issue of common stock, purchase of medical supplies on account, cash earned from patient services, rent payment, and revenue recorded from services on account. Each of these transactions affects the business' assets, liabilities, and owner's equity.
Explanation:Here is how we can journalize the transactions of John Daniel, M.D.
Jan. 1: Debit Cash $34,000; Credit Common Stock $34,000 (Explanation: The business issues common stock to John Daniel, increasing both the business' assets (Cash) and owner's equity (Common Stock).)Jan. 2: Debit Medical Supplies $17,000; Credit Accounts Payable $17,000 (Explanation: The business purchases medical supplies on account, increasing both the business' assets (Medical Supplies) and liabilities (Accounts Payable).)Jan. 4: Debit Cash $1,600; Credit Service Revenue $1,600 (Explanation: The business earns revenue by rendering services, increasing both the business' assets (Cash) and owner's equity (Service Revenue).)Jan. 12: Debit Rent Expense $3,000; Credit Cash $3,000 (Explanation: The business pays rent, decreasing the business' assets (Cash) and increasing its expenses (Rent Expense).)Jan. 15: Debit Accounts Receivable $7,000; Credit Service Revenue $7,000 (Explanation: The business earns revenue on account, increasing both the business' assets (Accounts Receivable) and owner's equity (Service Revenue).)Learn more about Journalizing transactions here:https://brainly.com/question/32325411
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Borrowers who met certain requirements for mortgages, such as minimum income level relative to the total mortgage amount, could obtain mortgages that were qualified to be securitized. Such mortgages were called_________________.
Answer:
Subprime or Alt-A mortgages
Explanation:
Generally, there are three types of mortgages: prime mortgage, subprime mortgage, and Alt-A mortgage.
Prime mortgages are mortgages that are usually given to people with excellent credit rating, who can meet all requirements and they are considered as high quality borrowers. Therefore, the interest rates they are offered usually relatively low.
Subprime mortgages are mortgages that are usually given to people with poor credit ratings or histories, who cannot meet all requirements to be given conventional mortgages and are considered as low quality borrowers. Therefore, the interest rates they are offered usually relatively high because the mortgage is considered as the riskiest.
The full meaning of Alt-A mortgage is Alternative A Mortgages which is a type of mortgages for people whose credit ratings or risk profiles lie between prime and subprime. The holders can meet more requirements than the holders of subprime mortgage but not as much as the holders of a prime mortgage. This mortgage is riskier than the prime mortgage but less risky than subprime mortgage. Therefore, the interest rates it offered are therefore higher than what the holder of prime mortgage get but it lower than the interest rates offered to the holders of subprime mortgage.
Best of luck.
Bouchard Company's stock sells for $20 per share, its last dividend (D0) was $1.00, its growth rate is a constant 6 percent, and the company would incur a flotation cost of 20 percent if it sold new common stock. Which of the following is the cost of issuing new common stock? (Round off the answer to two decimal places.)a. 12.63 percentb. 11.96 percentc. 10.24 percent
Answer:
Option (A) is correct.
Explanation:
Given that,
Flotation cost, FC = 20 percent
Dividend growth rate, g = 6%
Share price, P = $20
Dividend in the next year, D1:
= 1 × 0.06
= 0.06
Cost of new equity:
= D1 ÷ [P × ( 1 - FC)] + g
= 1.06 ÷ [20 × (1 - 0.20)] + 0.06
= 1.06 ÷ (20 × 0.8) + 0.06
= 1.06 ÷ (16) + 0.06
= 0.06625 + 0.06
= 0.12625 or 12.63%
The cost of issuing new common stock is approximately 12.63%.
Explanation:To calculate the cost of issuing new common stock, we need to use the formula:
Cost of issuing new common stock = (D0 × (1 + g) / (P0 × (1 - F))) + g
Where:
D0 is the last dividend, which is $1.00g is the constant growth rate, which is 6%P0 is the stock price, which is $20.00F is the flotation cost rate, which is 20%Plugging in the values:
Cost of issuing new common stock = (1.00 × (1 + 0.06)) / (20.00 × (1 - 0.20)) + 0.06
Cost of issuing new common stock = 0.0667 + 0.06
Cost of issuing new common stock ≈ 0.1263 or 12.63%
Therefore, option a. 12.63 percent is the correct answer.
It is usually easier to change marketing channels than to change prices or promotion.True or false?
Answer:
True
Explanation:
True because changing marketing channels would have little affect over than changing prices or promotion strategy. This why it is preferred to change marketing channels than to change prices or promotion.
Answer:
TRUE
Explanation:
Changing marketing channels is typically easier than changing costs or advertising.
A marketing mechanism is the individuals, organizations that practice that is required to transfer ownership of products from the cost of quality to the point of consummation. It is the manner in which goods meet the end-user, the consumer; and is also regarded as a means of distribution.price and promotion are highly rigid things, that's why it is easier to change the marketing channel.
Companies may want to consider budgeting for contributions to employee loss expenses (such as funerals) as well as for counseling services for employees and loved ones as part of ____.
a. crisis management budgeting
b. incident response budgeting
c. risk assessment budgeting
d. recovery criticality budgeting
As a part of crisis management budgeting the companies contribute to employee loss expenses (such as funerals) as well as for counseling services for employees and loved ones.
Option a
Explanation:
The process through which the company manages an unexpected or disruptive event or happening that may threaten a harm or shortcoming to the employees or stakeholders or the organization.
This is considered to be the most vital process in the public relations. There are three major elements that are common to create a crisis namely,
(a) threat
(b) short decision time
(c) element of surprise
Every organization would priorly plan a budget for a year that would help in compensating the loss that occur during the start of that financial year.
This crisis management budgeting would be a support or a backup for the company if it is about to face a problem or slowdown.
Calculate Caulder's profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital. Do not round intermediate calculations. Round your answers to two decimal places.
The question is incomplete. The complete question is given as follows:
Assume the following relationships for the Caulder Corp.:
Sales/Total assets =1.3
Return on assets (ROA)=4.0 %
Return on equity (ROE)= 8.0%
Calculate Caulder’s profit margin and debt-to-capital ratio assuming the firm uses only debt and common equity, so total assets equal total invested capital.
Answer:
Profit margin = 3.08%
Debt ratio = 50%
Explanation:
Lets consider the meaning of the following terminologies:
Return on Assets: Return on EquityAssets turnoverEquity ratioDebt ratioProfit margin: This ratio relates profit to the sales revenue. It is the percentage of the sales revenue that is made as profit.
It is calculated as;
Profit margin = (profit/Sales) × 100 or i
Profit margin = Return on assets / assets turnover ii
Asset Turnover: Asset turnover measures the number of times a one dollar worth of asset is used to generate sales. It gives an idea of how efficient a business is using its assets to generate sales. The higher the better.
Asset turnover = Sales revenue/assets.
It is given in the question as 1.3 times
Return on Assets (R.O.A) ; The is the proportion (in %) of the total assets that is made as profit. That is, how much profit is made for every one Dollar invested in assets. It can be calculated as:
R.O.A = (Profit/Assets) × 100
Note, Assets = equity capital + debt capital.
It is also given in this question as 4.0%
So now we can calculate our profit margin using the second formula under profit margin;
Profit margin = R.O.A/ Asset turnover
= 4.0/1.3
= 3.08 %
Lets continue;
Return on Equity (R.O.E). Equity capital is the capital provided by the ordinary shareholders. So the ROE measures, in percentage, the amount made as profit for every one Dollar of equity capital invested . That is, how much return is earned (in %) on every dollar of equity capital invested.
It is calculated as follows:
ROE= (Profit/equity capital )× 100
It is given in the question as 8.0%
Equity ratio: The is the proportion of the total assets that is financed by equity capital.
Equity ratio = equity capital/(equity capital + debt capital) i
= ROA / ROE ii
Debt ratio: Debt represents capital provided by external financiers in terms of loans and advances. So debt ratio is the proportion of the total assets that is financed by debt capital.
It is determined as;
Debt ratio= debt capital/(equity capital + debt capital) or
Debt ratio = 1 – equity ratio
So lets apply all of these to the question;
Debt ratio = 1 - equity ratio
Remember that equity ratio = ROA/ ROE (using the second formula under equity ratio)
so equity ratio = 4/8 = 0.5
Finally,
Debt ratio = 1 - 0.5
= 0.5 × 100
= 50%
The Larson and Gobeli study that compared projects that had been managed in a variety of structural types revealed that new product development projects tended to be MOST effectively executed when the organizational structure was a: Project matrix. Balanced matrix. Project organization. Functional matrix.
Answer:
The correct answer is letter "C": Project organization.
Explanation:
Gobeli, D. and Larson, E. published in the Project Management Journal (1987) the Relative effectiveness of different project structures after their study on how projects are organized and how that organization affects the results of the team. According to them, superlative effectiveness is accomplished in project organization structures.
7. If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Complete Question:
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
Sales ---------------------22,400
Variable Expenses -------12,800
Contribution Margin -----9,600
Fixed Expenses -----------7,968
Net Operating Income ---1,632
If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Solution:
Sales (current) = 22,400
Sales (revised) =[(1,000 + 180) X 22,400/1,000] = 26,432
Variable Expenses (current) = [12,800/1000 = 12.80] = 12,800
Variable Expenses (revised) = [12.80 + 1 = 13.8; 13.8 X 1,250] =17,250
Contribution Margin (current) = 9,600
Contribution Margin (revised) = 11,125
Fixed Expenses (current) = 7,968
Fixed Expenses (revised) = [7,968 + 1,400] = 9,348
Net Operating Income =[11,125 - 9,348]= 1,777
This question is incomplete, here is the complete questions:
Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units):
Sales: $20,000 Variable expenses: $12,000 Contribution margin: $8,000 Fixed expenses: $6,000Net operating income: $2,000If the variable cost per unit increases by $1, spending on advertising increases by $1,400, and unit sales increase by 180 units, what would be the net operating income?
Answer:
Sales: ((1000+180)=1180 units) * (($20,000/10)=$20) = $23,600
Variable Expenses: 1180 units * ((($12,000/1000)+1) = $13) = $15,340
Contribution Margin (Sales - Variable Expenses): $8,260
Fixed Expense (Variable Expense - Contribution Margin): $7,400
Net Operating Income (Contribution Margin - Fixed Expense): $860
An economist is interested in studying the incomes of consumers in a particular country. The population standard deviation is known to be $1,000. A random sample of 50 individuals resulted in a mean income of $15,000. What is the upper end point in a 99% confidence interval for the average income (as a whole number without a dollar sign)?
Answer:
The upper end point in a 99% confidence interval for the average income is 15,364.
Explanation:
We have that to find our [tex]\alpha[/tex] level, that is the subtraction of 1 by the confidence interval divided by 2. So:
[tex]\alpha = \frac{1-0.99}{2} = 0.005[/tex]
Now, we have to find z in the Ztable as such z has a pvalue of [tex]1-\alpha[/tex].
So it is z with a pvalue of [tex]1-0.005 = 0.995[/tex], so [tex]z = 2.575[/tex]
Now, find M as such
[tex]M = z*\frac{\sigma}{\sqrt{n}}[/tex]
In which [tex]\sigma[/tex] is the standard deviation of the population and n is the size of the sample.
[tex]M = 2.575*\frac{1000}{\sqrt{50}}= 364.15[/tex]
The upper end of the interval is the mean added to M. So it is 15000 + 364.15 = 15,364.15 dollars.
So the upper end point in a 99% confidence interval for the average income is 15,364.
To calculate the upper end point in a 99% confidence interval for the average income, we can use the formula: upper end point = mean + (z * (standard deviation / sqrt(sample size))).
Explanation:In this question, the economist is interested in studying the incomes of consumers in a particular country. The population standard deviation, which represents the variation in incomes of the entire population, is known to be $1,000. The economist took a random sample of 50 individuals, and the mean income of this sample is $15,000.
To calculate the upper end point in a 99% confidence interval for the average income of the entire population, we can use the formula: upper end point = mean + (z * (standard deviation / sqrt(sample size))), where z is the z-score corresponding to the desired confidence level.
For a 99% confidence level, the z-score is approximately 2.576. Substituting the values into the formula, we get: upper end point = $15,000 + (2.576 * ($1,000 / sqrt(50))). Evaluating this expression gives us the upper end point as a whole number without a dollar sign.
Enzo Design Corporation reports the following cost information for March: Cost of Goods Manufactured $ 85 comma 000 Finished Goods Inventory, March 1 4 comma 000 Finished Goods Inventory, March 31 2 comma 700 Work-in-Process Inventory, March 1 9 comma 680 Work-in-Process Inventory, March 31 1 comma 250 Direct Labor 36 comma 000 Direct Materials Used 16 comma 900 What is the amount of manufacturing overhead incurred by the company in March?
Answer:
manufacturing overhead= $23,670
Explanation:
Giving the following information:
Cost of Goods Manufactured $85,000
Work-in-Process Inventory, March 1 $9,680
Work-in-Process Inventory, March 31 $1,250
Direct Labor $36,000
Direct Materials Used $16,900
To calculate the manufacturing overhead we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
85,000= 9,680 + 16,900 + 36,000 + MOH - 1,250
23,670= manufacturing overhead
Will Jones, LLP is a small CPA firm that focuses primarily on preparing tax returns for small businesses. The company pays a $500 annual fee plus $10 per tax return for a license to use Mega Tax software.
Required:
1. What is the company’s total annual cost for the Mega Tax software if:
Annual Fee – $500
License Fee per Return – $10 Total Cost
300 500 + 10 x 300 = $3,500
400 500 + 10 x 400 = $4,500
500 500 + 10 x 500 = $5,500
2. What is the company’s cost per return for the Mega Tax software if:
300 Total cost/units = $3,500 / 300 = $11.67
400 $4,500 / 400 = $11.25
500$ 5,500 / 500 = $11.00
3. Why does the cost per return differ at each of the three volume levels?
Answer:
The company pays $ 500 yearly fee to use Mega Tax Software which is record as fixed costs. Fixed costs do not differ with the variation in the manufacturing levels. Conversely, the fixed cost per unit declines as manufacturing increases, as the same fixed costs are extent over more units. Also the fixed costs per unit rises as the production decreases. Therefore when the production level increased from 300 units to 500 units, the fixed costs per unit reduced and since the variable cost per unit is the same at $ 10 per unit regardless of the levels of production, the total cost per return declines from $ 11.67 to $ 11.
The cost per return changes because the fixed cost of $500 is spread over an increasing number of returns. The more returns prepared, the lower the cost per return.
Explanation:Yes, your computations for the total and per unit cost of using the Mega Tax software for Will Jones, LLP, show a correct understanding of fixed and variable costs. The variable cost per unit is constant at $10 per tax return. However, the fixed annual fee of $500 spreads out differently over the volume of tax returns, making the total cost per return decrease as volume increases.
The company incurs a fixed cost of $500 annually regardless of how many tax returns they prepare. This is why it's cheaper on a per return basis when more returns are prepared. The $500 cost is spread over more returns, reducing the cost per return. On the other hand, each return incurs a variable cost of $10. So, the marginal cost of each return changes with the volume of business. This is why the cost per return differs at each of the three volume levels.
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For each of the following situations, state whether you agree or disagree with the financial reporting practice employed, and briefly explain the reason for your answer.
1.
The controller of the Dumars Corporation increased the carrying value of land from its original cost of $2 million to its recently appraised value of $3.5 million.
Answer:
Yes I agree with the controller of Dumars corporation because this is what IAS 16 says. IAS 16 Property, Plant & Equipment says that the asset must reflect its Fair value in the face of financial statements. The fair value measurement must be undertaken at the end of the year. This fair value measurement guidance(Revaluation of Non-current Assets) is in line with the prudence concept which says that liabilities and expenses must not be understated and Assets and Income must not be overstated. If we don't revalue our asset then there is increased chances of undervaluing depreciation expense due to undervalued assets.
Accounting treatment must be:
1. Waive off all the accumulated depreciation related to the revalued asset.
Dr Accumulated Depreciation XX
Cr Revaluation Reserves XX
2. Increase the cost of the asset to the revalued amount:
Dr Land (3.5-2)m $1.5m
Cr Revaluation Reserves $1.5
In the nutshell, we can say that the carrying value of the asset has been increased to the amount revalued.
The decision of what entry mode to use is primarily based on all of the following factors EXCEPT: a. the firm's unique set of resources, capabilities, and core competencies. b. the country's situation and government policies. c. the industry's competitive conditions. d. the worldwide economic situation.
Answer:
Explanation:
It would be c
Southeast Jewelers Inc. sells only on credit. Its days sales outstanding is 73 days, and its average accounts receivable balance is $500,000. What are its sales for the year? Assume a 365-day year.
Answer:
$2,500,000
Explanation:
The computation of the sales amount is shown below:
= Average account receivable balance × total number of days in a year ÷ days sales outstanding
= $500,000 × 365 days ÷ 73 days
= $2,500,000
We simply apply the unitary method for this question that is shown above in the calculation part i.e multiplying the total number of days in a year by the average account receivable balance and then divided it by the days sales outstanding
Final answer:
To calculate Southeast Jewelers Inc's annual sales, use the formula for DSO, rearrange it to solve for sales, and substitute the given values to find that yearly sales are approximately $2.47 million.
Explanation:
The question asks us to calculate the total sales for the year for Southeast Jewelers Inc., knowing that the days sales outstanding is 73 days, and the average accounts receivable balance is $500,000.
To find the annual sales, we use the formula that relates days sales outstanding (DSO) with average accounts receivable (AR) and total sales (S): DSO = (Average AR / Sales) × 365. Rearranging this formula to solve for sales gives us S = (Average AR × 365) / DSO. Substituting in the values provided: S = ($500,000 × 365) / 73.
Performing the calculation, S equals $2,465,753.42 (rounded to two decimal places). Therefore, the total sales for Southeast Jewelers Inc. for the year are approximately $2.47 million.
The owner of Marshall Restaurant is disappointed because the restaurant has been averaging 7,500 pizza sales per month, but the restaurant and wait staff can make and serve 10,000 pizzas per month. The variable cost (for example, ingredients) of each pizza is $1.55. Monthly fixed costs (for example, depreciation, property taxes, business license, and manager's salary) are $12,000 per month.
Sales price is $10 per pizza. The owner wants cost information about different volumes so that some operating decisions can be made.
Fill in the following chart to provide the owner with the cost information.
Monthly Pizza Volume 6,000 7,500 10,000
Total fixed costs
Total variable costs
Total costs
Fixed cost per pizza
Variable cost per pizza
Average cost per pizza
Selling price per pizza
Average profit per pizza
Answer:
No of units 6,000 7,500 10,000
Total fixed cost $12,000.00 $12,000.00 $12,000.00
Total variable cost $9,000.00 $11,250.00 $15,000.00
Total cost $21,000.00 $23,250.00 $27,000.00
Fixed cost per pizza $2.00 $1.60 $1.20
Variable cost per pizza $1.50 $1.50 $1.50
Average cost per pizza $3.50 $3.10 $2.70
The cost is the expenditure required to produce or sell the product or get an asset ready for normal use. In other words, it is the amount paid to manufacture a product, sell merchandise, purchase inventory or get the equipment ready to use in a business process.
What does the definition of the term cost?
In accounting, the costs are defined as the cash amount or the cash equivalent given up for an asset. Cost includes all costs necessary to get an asset in place and ready for use. For example, the cost of an item in inventory also includes the item's freight-in cost. The cost of land includes all costs to get the land ready for its use.
No of units 6,000 7,500 10,000
Total fixed cost $12,000.00 $12,000.00 $12,000.00
Total variable cost $9,000.00 $11,250.00 $15,000.00
Total cost $21,000.00 $23,250.00 $27,000.00
Fixed cost per pizza $2.00 $1.60 $1.20
Variable cost per pizza $1.50 $1.50 $1.50
Average cost per pizza $3.50 $3.10 $2.70
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When the new manager told Cora, _________, to use high-pressure sales tactics with customers, Cora worked hard to carry out this instruction. Cora did this even though she knew customers would probably dislike being treated this way and take their business elsewhere.
Answer:
a conformist.
Explanation:
A professional with conformist behavior, like Cora, is one whose focus is to follow the orders of his superiors, performing tasks with an effective job and in accordance with what management requires, even if such conduct is unethical or causes some problem in relation to work. The conformist profile will do everything as requested without contesting or measuring the consequences, as they consider that avoiding conflict with their superiors is the best way to perform a job with quality and effectiveness.
Answer:
A conformist
Explanation:
A comformist is someone who follows traditional paths and does not try to deviate. In an office settings there are known as yes-men willing to follow rules and avoid arguments
Conformists do not consider the consequences of what they are being asked to do. They work hard and please their bosses by being completely obedient. This is why Cora is known as one.
Who are the key participants in the transactions of financial institutions a. ndividualsb. businessesc.governments
Answer:
The correct answers are letters "A", "B", and "C": individuals; businesses; and governments.
Explanation:
A financial transaction is an economic agreement or moves handled by a buyer and a seller where an asset is given in exchange for payment. The participants in these types of activities are individuals and businesses who can play the role of buyers and sellers and vice-versa, and the government granting that minimum legal conditions are provided for those transactions to take place.
Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces corn will produce
Answer:
Will specializes in producing corns.
Explanation:
The law of comparative advantage dictates that a country should only produce that good, in which its opportunity cost is lowest among its trade partner countries. In this way, that country will specialize in the way in producing that thing. In the long run, due to the specialization, the productivity level of that country will increase which might be inform of more skilled labor or the development of new technologies that increase the production output. The increased productivity due to specialization leads to the increased output for that nation.
In case of corn, the country might specialize in producing corn, and might develop more skilled labor and more value added products from corn to increase the economic output of the country.
Prepare journal entries to record the following four separate issuances of stock.
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
Record the issue of 4,000 shares of $5 par value common stock for $35,000 cash.
DATE GENERAL JOURNAL DEBIT
CREDIT
1
2. A corporation issued 2,000 shared of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
DATE GENERAL JOURNAL DEBIT CREDIT
1
3. A corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has stated no value.
Record the issue of 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has no stated value.
Date GENERAL JOURNAL DEBIT CREDIT
1
4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.
Record the issue of 1,000 shares of $50 par value preferred stock for $60,000 cash.
DATE GENERAL JOURNAL DEBIT CREDIT
1
Answer:
1. A corporation issued 4,000 shares of $5 par value common stock for $35,000 cash.
Account Debit Credit
Cash $35,000
Common Stock $20,000
Additonal Paid-In Capital
in Excess of Par Value $15,000
2. A corporation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has a $1 per share stated value.
Account Debit Credit
Promters Services Expense $40,000
Common Stock $2,000
Additonal Paid-In Capital $38,000
3. A corportation issued 2,000 shares of no-par common stock to its promoters in exchange for their efforts, estimated to be worth $40,000. The stock has stated no value.
Account Debit Credit
Promters Services Expense $40,000
Common Stock $40,000
4. A corporation issued 1,000 shares of $50 par value preferred stock for $60,000 cash.
Account Debit Credit
Cash $60,000
Preferred Stock $50,000
Additonal Paid-In Capital $10,000
Patrice sells a parcel of land for $50,000 cash and the buyer assumes Patrice's liability of $7,000 on the land. Patrice's basis in the land is $40,000. What is the gain or loss she will recognize on the sale?
Answer:
Gain of $17,000
Explanation:
The basis of Patrice's land is $40,000 and he sells it for $50,000. That is a $10,000 gain because he sold the land for $10,000 more than his basis in the land. But also the buyer assumed Patrice's liability of 7,000, which means that Patrice had to pay someone $7,000 but now the buyer of the land will make this obligation which means that this 7,000 is also part of the gain on sale of land. So the total Gain is 10,000 +7,000= $17,000.
Choose the best and worst answer to the following question:
Suppose your supervisor returns from vacation and notices that the work area looks terrible. You also had the last two days off. He's angry and criticizes you for being careless and sloppy. This wasn't your fault.
What would you do?
A. Tell him it wasn't your fault and not to criticize you unjustly.
B. Let the coworkers responsible know that you had to take the heat.
C. Suggest he talk directly to the people who left the place a mess.
D. Straighten up the department and try to reason with him later.
E. Take it up with your supervisor's boss.
Answer:
Choose the best and worst answer to the following question:
Suppose your supervisor returns from vacation and notices that the work area looks terrible. You also had the last two days off. He's angry and criticizes you for being careless and sloppy. This wasn't your fault.
What would you do?
Best answer: Let the coworkers responsible know that you had to take the heat.
worst answer: Tell him it wasn't your fault and not to criticize you unjustly.
Explanation:
________ from the manufacturer or service provider is the set of firms that supply the raw materials, components, parts, information, finances, and expertise needed to create a product or service.
Answer: Upstream from
Explanation:
The upstream is one of the processing from the service provider or the manufacturer that helps in providing the various types of information, raw materials, components and the finances for creating the different types of products and the services in the market.
The Upstream is refers to the first step for producing the products and then the products are deliver to the customers or users in the form of upstream in the supply chain system.
Therefore, Upstream is the correct answer.
A firm believes a product’s sales volume (S) depends on its unit selling price (P) as S = $100 – P. The production cost C is $917 + 9S. Determine the sales volume (S) at which the firm’s profit is a maximum. (Hint: calculate derivative of the profit function with respect to the price)
Answer:
$45.5
Explanation:
For a firm, profit is equal to total revenue minus total cost. This can be represented mathematically as follows:
π = R - C ................................................................................................... (1)
Where π represents profit, R represents total revenue and C represents total cost.
Total revenue (R) is unit selling price (P) multiply by the sales volume (S). This is represented mathematically as follows:
R = P * S ...................................................................................................... (2)
From the question, sales volume is given as follows:
S = $100 – P .............................................................................................. (3)
We then substitute for S in equation (2) and solve as follows:
R = P($100 – P) = $100P – [tex]P^{2}[/tex] ............................................................... (2a)
From the question, C is given as:
C = $917 + 9S .............................................................................................. (4)
We then substitute for S in equation (4) and solve as follows:
C = $917 + 9($100 – P) = $917 + $900 – 9P = $17 – 9P .................. (4a)
To derive the profit function, the solution for R in equation (2a) and the solution for C in equation (4a) are substituted into equations (1) above and then solved as follows:
π = ($100P – [tex]P^{2}[/tex] ) – ($17 – 9P) = $100P – [tex]P^{2}[/tex] – $17 + 9P
= $100P + 9P – [tex]P^{2}[/tex] – $17
π = $109P – [tex]P^{2}[/tex] – $17 ................................................................................ (1a)
Equation (1a) is the profit function. The calculation of the derivative of the profit function (1a) with respect to the price is obtained as follows:
dπ/dP = $109 – 2P = 0 ................................................................................. (5)
From equation (5), we can solve for P as follows:
$109 – 2P = 0
$109 = 2P
2P = $109
P = $109/2
P = $54.5 ............................................................................................................ (6)
To determine the sales volume, we substitute 54.5 in equation (6) for P in the product’s sales volume (S) in equation (3) and we then solve as follows:
S = $100 – $54.5 = $45.5
Therefore, the sales volume (S) at which the firm’s profit is a maximum is $45.5.
Which of the following linkages has its human resource management functions built right into the strategy formulation and implementation processes?
A. integrative linkage
B. administrative linkage
C. one-way linkage
D. two-way linkage
E. executive linkage
Answer:
The correct answer is letter "A": integrative linkage.
Explanation:
There are four (4) different ways the Human Resource Management (HRM) can link with its management process: administrative linkage, one-way linkage, two-way linkage, and integrative linkage. Integrative linkage involves taking into consideration all the employees within an organization before deciding on what the company will do to achieve its objectives. Even if success is not guaranteed, with this approach firms are likely to accomplish their mission thanks to the contribution of different points of view on regards to the company.
Which of the following statements are examples of labor except:
A) a computer programmer debugs a complicated piece of code that permits a computer program to function properly.
B) a company manager develops a spreadsheet of all of the products of the company with the accompanying profits of each in order to weed out poor performing ones.
C) a group of church members gather clothes for a clothing drive for the poor in their community.
D) a mechanic replaces the water pump on a car at the local Ford dealership.
Answer:
C) a group of church members gather clothes for a clothing drive for the poor in their community.
Explanation:
The stated example is and example of voluntary work, which by most statutes does not count as labor. Although volunteering is technically work, it does not count as labor as volunteers are not paid for what they do. Instead, they do it for an ethical purpose which is not related to getting money. Therefore, volunteers do not coun as the working labor force.
Labor, in an economic sense, refers to human effort exerted in the production of goods and services. Thus, gathering clothes for a clothing drive, though valuable, would not be considered labor. Activities like programming, managing company products, and car maintenance would be.
Explanation:In Economics, labor is defined as the human effort put into the production of goods and services. Thus, Activities A, B, and D would be examples of labor. In contrast, Activity C, where church members gather clothes for a clothing drive, would not generally count as labor in the economic sense, as they are not engaging in paid work or directly contributing to the production of goods and services. It's important to note that while this work may not be classified as 'labor' in an economic context, it is nonetheless valuable and important to society.
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