The product cost per unit under absorption costing for Sea Company is $82.50.
Explanation:To calculate the product cost per unit under absorption costing, we need to consider the total fixed overhead as well as the variable costs per unit. Here's the step-by-step calculation:
Calculate the variable cost per unit: Direct labor + Direct materials + Variable overhead = $35 + $28 + $17 = $80 per unit.
Calculate the total cost per unit: Variable cost per unit + (Fixed overhead / Units produced) = $80 + ($105,000 / 42,000) = $82.50 per unit.
Therefore, the product cost per unit under absorption costing for Sea Company is $82.50.
Louise owned a house next to Robert's house. Robert made a contract with Midcity Painters to paint his house. The painters arrived to paint Robert's house, but mistakenly painted Louise's house. She saw the painters at work and made no comment. Later, Midcity Painters sent Louise a bill for painting her house. She claimed that she was not liable because she had not made any contract with them. Is this a valid defense?
Answer:
Louise's defense is not valid. She was involved in an Implied-in-fact contracts
Explanation:
Implied-in-fact Contracts
This is a contract that is legally enforceable as a result of an agreement made by conduct and from assumed intentions. These conducts and assumed intentions are derived from the relationship among the involved parties.
When Louise saw Midcity Painters painting her house and made no comments, she became involved a implied-in-fact contract. The conduct of Midcity to paint her house and her conduct to be quiet infact formed a legally enforceable contract.
Louise, therefore, liable. However, due to the lack of contractual terms such as payment for the job done, Louise will be liable for the nominally or typically acceptable rate for such a job done. For instance, if a normal house paint job costs $2000, Louise is liable to pay $2000 for the implied contract.
This situation involves the legal principle of Quasi Contracts. Although Louise did not formally agree to the contract, she may be held liable for payment, depending on the jurisdiction, her knowledge and the magnitude of the mistake made by Midcity Painters.
Explanation:From the legal perspective, this situation falls under the principle of Quasi Contract, or an implied contract. Although Louise did not formally agree to a contract with Midcity Painters, she took advantage of their services without objecting while the work was in progress. Therefore, the law might see her as unjustly enriched at the expense of Midcity Painters.
However, whether this defense is valid or not depends on the specific jurisdiction and the court's interpretation of the situation. Some jurisdictions hold that silence does not constitute acceptance, while others say that if Louise knew the work was being done mistakenly and did not prevent it, she could be held liable for payment.
Moreover, the court might consider the scope of the mistake made by Midcity Painters. If it was a minor mistake and Louise knew about it and let them continue, she may be held accountable. However, if it was a major mistake, the law might absolve her from liability.
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Ducti is a small company that manufacturers duct-tape wallets. Ducti founder, David Pippenger, discovered there is a large demand for the wallets and watches that Ducti sells. In fact, its product line has expanded to include bags as well. Clearly, some consumers have a favorable attitude of Ducti products. To have a favorable perception, consumers must:
-experience problem recognition.-consult a public source of information.-consult a personal source of information.-make a post-purchase evaluation.-experience cognitive dissonance.
Answer:
The correct answer is: Experience problem recognition.
Explanation:
Problem recognition refers to the first stage when a consumer decides to make a purchase. Therefore, for a company wishing to achieve a favorable consumer perception of its products and services, the ideal is to establish the first step in the purchase decision process, which occurs when the consumer identifies a need and after identifying the problem, Looking for a product that meets your need, so this is one of the most important steps in the decision making process.
Companies should therefore identify which internal or external stimuli will be responsible for generating a need in their target audience, and thus increase the perception of their products and consequently the organizational results.
Markson Company had the following results of operations for the past year: Sales (8,000 units at $21.00) $168,000 Variable manufacturing costs $90,000 Fixed manufacturing costs 16,000 Variable selling and administrative expenses 16,000 Fixed selling and administrative expenses 21,000 (143,000) Operating income $25,000 A foreign company whose sales will not affect Markson's market offers to buy 2,000 units at $15.50 per unit. In addition to variable manufacturing costs, selling these units would increase fixed overhead by $1,700 for the purchase of special tools. If Markson accepts this additional business, its profits will:
If Markson Company accepts the offer from the foreign company to sell an additional 2,000 units at $15.5 per unit, and after considering the increase in variable and fixed costs that will occur from selling these units, their profitability will increase by $6,800.
Explanation:To answer this question, we first need to calculate the additional income and costs that will result from this transaction. The additional income will be 2,000 units * $15.5/unit, which is $31,000. The additional variable manufacturing cost is 2,000 units * ($90,000/8,000 units), which equals $22,500, and the additional fixed overhead is $1,700.
So the changes in profit can be calculated as follows: Profit change = Increase in total revenue - Increase in variable cost - Increase in fixed cost = $31,000 - $22,500 - $1,700 = $6,800
In conclusion, if Markson Company accepts this additional business, its profits will increase by $6,800.
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Prices for many goods are higher in the city of Shenzhen on the mainland of China than in the city of Hong Kong. An article in the Economist notes that "individuals can arbitrage these differences through what effectively amounts to smuggling." Source: "Restrictions on Travel to Hong Kong by Shenzhen Residents," Economist, April 13, 2015. The article means that individuals canA. A buy the product in Hong Kong and sell it in Shenzhen so eventually the price in Shenzhen will decrease and the price in Hong Kong will increase. B. buy the product in Shenzhen and sell it in Hong Kong so eventually the price in Hong Kong will decrease and the price in Shenzhen will increase C. rely on differences in demand for the product to even out the price changes. D. buy the product elsewhere in the world and sell t in these two markets Ultimately, you would expect the result of individuals engaging in this arbitrage to be similar
Answer:
A) buy the product in Hong Kong and sell it in Shenzhen so eventually the price in Shenzhen will decrease and the price in Hong Kong will increase
Explanation: when the price of the product in Shenzhen reduces due to the low priced product being sold in same place the high priced is sold, this would even out the demands and the price of that in Shenzhen would be dragged down to be able to compete with that of the low priced.
Shelley wants to cash in her winning lottery ticket. She can either receive six, $193,000 semiannual payments starting today, or she can receive a single-amount payment today based on a 6% annual interest rate. What is the single-amount payment she can receive today?
Answer:
$1,045,517.95
Explanation:
Data provided in the question:
Semiannual payments = $193,000
Number of semiannual payments, n = 6
Annual interest rate, i = 6% = 0.06
when compounded semiannually = 6% ÷ 2 = 3% = 0.03
Now,
Single Payment = Semiannual payments × PVAF
here,
PVAF = [ 1 - (1 + i )⁻ⁿ ] ÷ i
or
PVAF = [ 1 - (1 + 0.03 )⁻⁶ ] ÷ 0.03
or
PVAF = 5.4172
Therefore,
Single Payment = $193,000 × 5.4172
= $1,045,517.95
Kim’s Academy had $10,000,000 of X-bonds payable due in 2022. Prior to 12/31/2021, Kim’s refinanced $3,000,000 of the X-bonds with other bonds that mature in 2032. On January 15, 2022, Kim’s refinanced another $2,000,000 of the X- bonds with others that mature in 2029. Kim’s issued its financial statements on February 1, 2022. On February 15, 2022, Kim’s refinanced another $4,000,000 of the X-bonds with others that mature in 2030. In its 2021 financial statements, Kim’s should show noncurrent bonds payable of:
a. $2,000,000
b. $3,000,000
c. $5,000,000
d. $9,000,000
Answer:
b. $3,000,000
Explanation:
As at end of 2021, noncurrent bonds payable are those amounts to be matured in 2022.
At the beginning, Kim’s Accademy had $10,000,000 of X-bond payable due in 2022 which is consider current bond payable as it will be matured in next coming year.
But then prior to 12/31/2021, Kim’s refinanced $3,000,000 of the X-bonds with other bonds that mature in 2032; so the bond payables as of end of 2021 include $3,000,000 of noncurrent bond and $7,000,000 of current bonds.
Thomas More Company incurred the following costs during the
current year in connection with its research and development activities.
Cost of equipment acquired that will have alternative
uses in future R&D projects over the next 5 years
(uses straight-line depreciation) $280,000
Materials consumed in R&D projects 59,000
Consulting fees paid to outsiders for R&D projects 100,000
Personnel costs of persons involved in R&D projects 128,000
Indirect costs reasonably allocable to R&D projects 50,000
Materials purchased for future R&D projects 34,000
Instructions
Compute the amount to be reported as research and development expense by More on its current year
income statement. Assume equipment is purchased at the beginning of the year.
Answer:
$393,000
Explanation:
The computation of the research and development expense reported is shown below:
= Materials consumed in R&D projects + Consulting fees paid to outsiders for R&D projects + Personnel costs of persons involved in R&D projects + Indirect costs reasonably allocable to R&D projects + depreciation expense
= $59,000 + $100,000 + $128,000 + $50,000 + $56,000
= $393,000
The depreciation expense is computed below:
= (Cost of equipment acquired - salvage value) ÷ (useful life)
= ($280,000 - $0) ÷ (5 years)
= $56,000
To calculate the research and development expense, we need to consider the costs incurred. The total amount to be reported by Thomas More Company is $651,000.
Explanation:To calculate the amount to be reported as research and development expense by Thomas More Company, we need to consider the costs incurred in connection with its R&D activities. The expenses that should be included are:
Cost of equipment acquired that will have alternative uses in future R&D projects over the next 5 years: $280,000Materials consumed in R&D projects: $59,000Consulting fees paid to outsiders for R&D projects: $100,000Personnel costs of persons involved in R&D projects: $128,000Indirect costs reasonably allocable to R&D projects: $50,000Materials purchased for future R&D projects: $34,000Adding up these expenses, the total amount to be reported as research and development expense by Thomas More Company on its current year income statement is $651,000.
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The method used to collect information to use through all phases of the project life cycle is called
A. Responsibility matrix
B. Organization breakdown structure
C. Work breakdown structure
D. Priority matrix
E. Work package
Answer:
Letter C is correct. Work breakdown structure.
Explanation:
Work breakdown structure is a method used so that there is a necessary hierarchy so that the flow of project steps can be fulfilled more effectively. It is used to achieve project objectives and deliverables.
At each level of the Work Breakdown Structure Diagram there should be a schedule, time and estimated budget, so that the scope of the project can be better understood and integrated.
A work breakdown structure is the method used to collect information through all phases of the project life cycle.
What is a work breakdown structure?A work breakdown structure refers to a method used where a necessary hierarchy is needed to allow the flow of project steps can be fulfilled more effectively.
A work breakdown structure is used achieve project objectives and deliverables.
Therefore, the Option C is correct.
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On January 1, Year 1, Andrei’s Design Inc., purchased equipment for $60,000. Residual value at the end of an estimated four-year service life is expected to be $10,000. The company expects the machine to operate for 20,000 hours. The machine operated for 3,600 and 4,000 hours in Year 1 and Year 2, respectively. The company uses the units-of-production method. For how much would each item below be reported at the end of Year 2?a. Depreciation expense b. Accumulated depreciation c. Book value
Answer:
a. $10,000
b. $19,000
c. $41,000
Explanation:
The computations are shown below:
The depreciation per hour would be
= (Original cost - residual value) ÷ (estimated machine hours)
= ($60,000 - $10,000) ÷ (20,000 hours)
= ($50,000) ÷ (20,000 hours)
= $2.5 per hour
a. Now for the second year, it would be
= Machine hours in second year × depreciation per hour
= 4,000 units × $2.5
= $10,000
b. Accumulated depreciation would be
= (Machine hours in year 1 + Machine hours in year 2) × depreciation per hour
= (3,600 hours + 4,000 hours) × $2.5
= $19,000
c. And, the book value would be
= Original cost - accumulated depreciation
= $60,000 - $19,000
= $41,000
Abel Corp. is a wholesaler for Global Electric in the French market. Global Electric discovered that Abel Corp. was diverting some of its goods to the English market. Abel could get a greater profit in the English market because the goods were bought by the firm at a cheaper price in France. What is Abel engaged in?
Answer:
Abel Corp is engaged in maximizing profits.
Explanation:
By different reasons (trade barriers, exchange rate fluctuations, a shift in preferences in Britain increasing demand of Global Electric goods type), there is a market opportunity to increase profits per unit sold faster in Britain than France. IF Abel Corp is not bound by a commercial agreement with Global Electric to sell its products only in France, Global Electric cannot make a complaint about selling its products in another market.
Final answer:
Abel Corp. is engaging in diversion or parallel importing by buying goods in the French market and selling them in the English market for a higher profit, a practice that may breach distribution agreements.
Explanation:
Abel Corp., being a wholesaler for Global Electric in the French market, is engaging in a practice known as diversion or parallel importing. This activity involves Abel Corp. purchasing goods at a lower price intended for one market (French) and selling them in another market (English) to gain a higher profit. This practice can undermine territorial exclusivity, trademarks, and differ from gray market goods where no deception or piracy is involved but still may violate distribution agreements.
The global marketplace makes it easy for multinational corporations (MNCs) to extend their influence and reach across borders. However, activities like those performed by Abel Corp. can lead to tensions between corporations and the countries in which they operate. Debates over the benefits and downsides of these international trade practices and corporate globalization require a nuanced understanding of economics, law, and international relations.
Bird Enterprises has no debt. Its current total value is $47.2 million. Assume debt proceeds are used to repurchase equity.
a. Ignoring taxes, what will the company’s value be if it sells $18.5 million in debt? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, round your answer to the nearest whole number, e.g., 1,234,567.)
b. Suppose now that the company’s tax rate is 21 percent. What will its overall value be if it sells $18.5 million in debt?
Answer:
a) as there is no taxes, under MM proposition the value of the firm remains the same at 472.2 millions
b) as there is income taxes, the value of the firm increases if levered As the interest expense provides a tax shield:
18,500,000 x 21% = 3,885,000
47,200,000 + 3,885,000 = 51,085,000
Explanation:
The reasoning behind is that while dividends (reutrn on equity) are not considered expenses interest (debt "return") do. Thus, financing with debt generates a positive tax shield as we decrease our fiscal obligations
If Bird Enterprises sells $18.5 million in debt and uses it to repurchase equity, its value remains $47.2 million when ignoring taxes. However, with a 21% tax rate, the value increases to $51.085 million due to tax savings from the debt's interest.
Explanation:a. Ignoring taxes, if Bird Enterprises sells $18.5 million in debt and uses the proceeds to repurchase equity, the total value of the company will remain unchanged at $47.2 million. The reason is that the company is simply replacing one form of financing (equity) with another (debt).
b. With a tax rate of 21 percent, the value of the company increases if it sells $18.5 million in debt. The interest on the debt is tax-deductible, which brings tax savings. So, the increase in value can be calculated as the debt multiplied by the tax rate. That is $18.5 million * 0.21 = $3.885 million. Therefore, the new total value of Bird Enterprises would be the original value of $47.2 million plus tax savings of $3.885 million or $51.085 million.
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A client invests in an equity indexed annuity that has a guaranteed rate of 3% annual return, a 10% cap and 80% participation. in a year when the reference index increases by 15%, the invester will be credited with interate at the rate of?
Answer:
10%
The investor will be credited with the interest at the rate of 10%.
Explanation:
Cap on interest rate which is going to be credited = 10%
Participation=80%
Increase in reference index = 15%
As the participation rate is 80% so the investor can credit the amount of 80% * 0.15= 12% (15% of 80%) but as it is given in the question, the cap of 10% is put on the interest rate credited so the investor will be credited with the interest at the rate of 10%.
Assuming a downward-sloping demand curve, a change in price, all held constant:a. May or may not result in a change in quantity demanded. b. Generates a change in quantity demanded and a change in demand. c. Generates a change in demand. d. Generates a change in quantity demanded.
Answer:
d. Generates a change in quantity demanded.
Explanation:
Because in this case only the price is changing and all other factors are held constant the demand curve will not move and any movement that will take place will be along the demand curve. If the price increases the quantity demanded will decrease and if the price decreases the quantity demanded will increase, the reason for this is that the demand curve is downward sloping, therefore a price change will only change the quantity demanded.
Yang converted her personal residence to rental property ten years ago. At the time of conversion, the fair market value of the house was $60,000. After taking depreciation deductions of $12,000, Yang sells the house for $68,000. If Yang paid $50,000 for the house, her adjusted basis in the house is:a. $30,000.b. $38,000.c. $48,000.d. $50,000.e. $60,000.
Answer:
c. $48,000
Explanation:
The adjusted basis is the fair value less/plus adjustments done by any consideration for tax experts. As adjustments, you can consider legal fees, restoration of damaged property, insurances, depreciation, etc. In this case, it is stated that depreciation was $12,000 and the Fair Value was $60,000. Therefore, the adjusted basis is 60,000-12,000 = 48,000
Macrosoft Company reports net income of $59,000. The accounting records reveal depreciation expense of $74,000 as well as increases in prepaid rent, accounts payable, and income tax payable of $54,000, $10,000, and $15,000, respectively. Prepare the operating activities section of Macrosoft's statement of cash flows using the indirect method.
Answer:
Cash flow from Operations Amount in $
Net income 59,000
Depreciation expense 74,000
Increase in prepaid rent (54,000)
Increase in accounts payable 10,000
Increase in income tax payable 15,000
Net cash flows from operations 104,000
Explanation:
Information given about Macrosoft Company
Net income = $59,000
Depreciation expense = $74,000
Prepaid rent = $54,000
Accounts payable = $10,000
Income tax payable = $15,000
Cash flow from Operations Amount in $
Net income 59,000
Depreciation expense 74,000
Increase in prepaid rent (54,000)
Increase in accounts payable 10,000
Increase in income tax payable 15,000
Net cash flows from operations 104,000
Which 2 statements are correct regarding adjusting sales tax on a return?A. Rounding up should post to an income account B. Penalties should post to a contra-income account Interest charged should post to a payable account C. Rounding down should post to an income account D. Early payment discount (credit) should post to an income account
Answer:B and D i think
Explanation:
Punishments must be recorded in a contra-income account. Charges for interest ought to be posted to a payable account. An income account should receive the early payment discount (credit). As a result, choices (B) and (D) are the appropriate responses.
What is sales tax?A sales tax is a levy levied on the sale of specific products and services and paid to a governing authority. Generally, laws allow the seller to collect tax dollars from the consumer at the point of purchase.
A use tax is a tax on goods or services that is paid directly to a governing body by a customer. Food, education, and medications, for example, are frequently free from sales and use tax under state legislation.
A value-added tax (VAT) on products and services is similar to a sales tax. Key distinctions can be found in the comparison with sales tax.
Hence, options (B) and (D) are accurate.
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Southeastern Bell stocks a certain switch connector at its central warehouse for supplying field service offices. The yearly demand for these connectors is 15 comma 000 units. Southeastern estimates its annual holding cost for this item to be $25.00 per unit. The cost to place and process an order from the supplier is $75.00. The company operates 300 days per year, and the lead time to receive an order from the supplier is 2 working days. a) What is the economic order quantity? 300 units (round your response to the nearest whole number). b) What are the annual holding costs? $ 3750 (round your response to the nearest whole number). c) What are the annual ordering costs? $ 3750 (round your response to the nearest whole number). d) What is the reorder point? 100 units (round your response to the nearest whole number).
Answer:
a. 300 units
b. $3,750
c. $3,750
d. 100 units
Explanation:
a. The computation of the economic order quantity is shown below:
= [tex]\sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}[/tex]
= [tex]\sqrt{\frac{2\times \text{15,000}\times \text{\$75}}{\text{\$25}}}[/tex]
= 300 units
The number of orders would be equal to
= Annual demand ÷ economic order quantity
= 15,000 ÷ 300 units
= 50 orders
And, The average inventory would equal to
= Economic order quantity ÷ 2
= 300 units ÷ 2
= 150 units
The total cost of ordering cost and carrying cost equals to
b. Carrying cost = average inventory × carrying cost per unit
= 150 units × $25
= $3,750
c. Ordering cost = Number of orders × ordering cost per order
= 50 orders × $75
= $3,750
d. The reorder point would be
= Annual demand ÷ number of days × lead time
= 15,000 ÷ 300 days × 2 working days
= 100 units
The Economic order quantity of the southern bell stocks is 300 units, the annual holding costs are $ 3,750, the annual ordering costs are $3,750 and the reorder point is 100 units.
What is EOQ?EOQ is a computation meant to identify the ideal order quantity for firms to minimize shipping expenses, warehousing space, excess inventory, and overstock charges. It is also known as the 'optimum lot size.'
EOQ = [tex]\sqrt{ \frac{2\times\, \rm\,Annual\,demand\times\, \rm\,ordering\, \rm\,cost}{ \rm\,Carrying\, \rm\,cost}[/tex]
In this case, we have to calculate EOQ, annual holding cost, annual ordering cost, and reorder point:
a. Economic Order Quantity =
= [tex]\sqrt \dfrac{2\times\,15,000\times\,75}{25}[/tex]
= 300 units.
b. Annual holding cost:
Average inventory =
[tex]\dfrac{ \rm\,EOQ}{2}\\\\= \dfrac{300}{2}\\\\= 150\\[/tex]
Annual holding cost = Average inventory × Carrying cost per unit
= 150 × $25
= $ 3,750
c. Annual ordering costs:
Number of orders:
[tex]\dfrac{\rm\,Annual \,demand}{\rm\,EOQ}\\\\= \dfrac{15000}{300}\\\\= 50 \, \rm\,Orders[/tex]
Annual ordering cost = Number of orders × ordering cost per order
= 50 × $75
= $ 3,750
d. Reorder point
= [tex]\dfrac{ \rm\,Annual\,demand}{\rm\,Number\,of\,days}\times\, \rm\,lead\,time[/tex]
= [tex]\dfrac{15,000}{300}\times\,2\\\\= 100\rm\,units\[/tex]
Hence, the answer for a. EOQ = 300 Units, b. Annual holding costs = $3,750, c. Annual ordering costs = $ 3,750 , d. Reorder point = 100 units.
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Andrew’s coworkers often come to him for information about how their company handled disgruntled customers in the past since he has worked at the company for 25 years. He heard lots of information about the way things have been handled in the past, which helped him understand the organizational system. The information he provides is not written down, but it is invaluable in helping his coworkers in making decisions about how to deal with difficult customers. Andrew’s information is an example of ______ knowledge.
a. explict.
b. descriptive
c. vigilant.
d. cultural
Answer:
option d is right
Explanation:
given that Andrew’s coworkers often come to him for information about how their company handled disgruntled customers in the past since he has worked at the company for 25 years.
He heard lots of information about the way things have been handled in the past, which helped him understand the organizational system.
Andrew’s information is an example of __Cultural____ knowledge.
This is because he knows some cultural characteristics, belief, history, and also behaviours due to his vast experience of 25 years and he shares with others.\
It is not explicit because not written and source is not mentioned
It is not descriptive, because data is not supported for his verdict.
It is not vigilant, because vigilant information is parted only to prevent frauds, or any illegal or unwarranted activity or behaviour.
Hence option d is right
S'Round Sound, Inc. reported the following results from the sale of 24,000 units of IT-54:
Sales $528,000
Variable manufacturing costs 288,000
Fixed manufacturing costs 120,000
Variable selling costs 52,800
Fixed administrative costs 35,200
Rhythm Company has offered to purchase 3,000 IT-54s at $16 each. Sound has available capacity, and the president is in favor of accepting the order. She feels it would be profitable because no variable selling costs will be incurred. The plant manager is opposed because the "full cost" of production is $17.
Which of the following correctly notes the change in income if the special order is accepted?
$3,000 decrease.
$3,000 increase.
$12,000 decrease.
$12,000 increase.
None of these.
The special order will result in an increase in income of $12,000. The cost calculation only considers the variable manufacturing costs since they change with production level. Fixed costs were not considered because they do not depend on the level of output.
Explanation:The special order should result in an increase in income, not a decrease. To calculate this, consider only the variable costs tied to production. When calculating the actual cost for making the IT-54, ignore the fixed costs since they do not change with the level of output. Here, variable manufacturing cost per unit is calculated by dividing total variable manufacturing cost by the number of units which is $288,000/24,000 = $12. Now, if we sell it for $16, the contribution margin per unit becomes $16 - $12 = $4. Since Rhythm Company wants to buy 3,000 units, the increase in income will be $4 * 3,000 = $12,000.
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The person who acquires real property under the terms of a will is known as a ___________.
Answer:
Devisee
Explanation:
A devisee is a person who receives the real property i.e land and building, machinery, etc. by going through the term and conditions of the will.
It can be any person whether he or she is a family member, relatives, friends, etc who acquired the property based on the will's terms and conditions. He or she has the full right to acquired that property as he or she name is mentioned in the will.
Barnes agrees with Morgan to enter into the management of a new subdivision of residential housing. Morgan appoints Barnes as his manager for the duration of the development program. During the course of the construction, Barnes decides to use funds specified for the subdivision for an office space project that Barnes alone has been interested in completing. Morgan is very angry on learning of Barnes' actions and terminates the agency. Barnes insists that the agency cannot be terminated in this manner. Is Barnes correct?
Answer:
No
Explanation:
Morgan appointed Barnes to manage a new subdivision. Barnes has been permitted to transact all affairs in connection with the subdivision. Therefore, Barnes is a general agent. In some situations, either party to an agency relationship has the authority to end that relationship at any time. So, Morgan has the power to terminate the agency
Answer:
Barnes is correct
Explanation:
The agency can be terminated by mutual agreement prior to giving the other party notice, since the office is part of the project means that diverting funds to a complete a part of a project before it's scheduled time does not warrant termination of agency except stated in the legal binding contract.
Which of the following inputs is normally considered to be variable in the short run?
Select one:
a. Money
b. Capital
c. Labor
d. Time
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Assume that your parents wanted to have $ 130,000 saved for college by your 18th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 5.5 % per year on their investments.
(a) How much would they have to save each year to reach their goal?
(b) If they think you will take five years instead of four to graduate and decide to have $ 170,000 saved just in case, how much would they have to save each year to reach their new goal?
Answer:
A) $4,409.8
B) $5,766.6
Explanation:
A)
To answer the first question, we must use the future value of an ordinary annuity formula:
[tex]FV = A ((1+i)^{n} -1)/i[/tex]
Where:
FV = Future value of the investment
A = Value of annuity
i = Interest rate
n = number of compounded periods
Now we simply plug the amounts into the formula:
130,000 = A ((1 + 0.055)^18-1) / 0.055
130,000 = A (29.48)
130,000 / 29.48 = A
$4,409.8 = A
Therefore, the parents would have to add $4,409.8 dollars each year to the college fund.
B)
To answer the second question, we use the same formula, only the values change:
170,000 = A ((1 + 0.055)^18-1) / 0.055
170,000 = A (29.48)
170,000 / 29.48 = A
$5,766.6 = A
Therefore, to have $170,000 saved by the 18th year, the parents would have to add $5,766.6 per year to the fund.
Total stockholders' equity represents :
a. a claim to specific assets contributed by the owners.b. the maximum amount that can be borrowed by the enterprise.c. a claim against a portion of the total assets of an enterprise.d. only the amount of earnings that have been retained in the business.
Answer:
c. a claim against a portion of the total assets of an enterprise.
Explanation:
The statement of stockholder's equity comprises common stock, preferred stock, and retained earnings.
The ending balance of retained earning = Beginning balance of retained earnings + net income - dividend paid
And, the ending balance of the common stock = Beginning balance of common stock + issued shares
In this the accounting equation is used which is shown below:
Total assets = Total liabilities + stockholder equity
The debit and credit side of the balance sheet should always be equal and balanced. So, its claims against the portion of the total assets
Total stockholders' equity represents a claim against a portion of the total assets of an enterprise after all liabilities are deducted. It indicates the equity stake held by a company's investors, not solely the retained earnings or specific contributed assets.
Explanation:Total stockholders' equity indeed represents a claim against a portion of the total assets of an enterprise. This financial indicator reflects the residual interest in the assets of an enterprise after deducting liabilities. In other words, it embodies the equity stake currently held by a company's equity investors. For instance, if a company's total assets are worth $1,000,000 and it owes $200,000 in liabilities, its stockholders' equity would stand at $800,000, which means that the company's owners have a claim against these $800,000.
It's worth noting that stockholders' equity isn't a measure of the maximum amount that can be borrowed by a company, nor does it solely represent the earnings that have been retained in the business. Also, it's not just about the specific assets contributed by the owners—rather, it represents the owners' overall stake in the company, as calculated by subtracting total liabilities from total assets.
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Cybertron Inc. was accused of deceptive pricing. Which of the following explains what most likely occurred? A. Cybertron refused to advertise sale prices in the local paper. B. Cybertron sold only defective products at the advertised price. C. Cybertron advertised a large price reduction from a phony high retail list price. D. Cybertron misrepresented a product's features in an ad. E. Cybertron used misleading labeling..
Answer:
The aanwser is !!!!!!study nimrod!!!!!
Explanation:
go freaking study instead of partying and getting or reciving bj's
ps iknow i cant spell its a finger thing
Cybertron Inc. most likely advertised a large price reduction from a phony high retail list price which constitutes deceptive pricing, prohibited by the FTC which ensures the truthfulness of advertising claims and protects consumers from economic injury.
The student's question revolves around the likely scenario in which Cybertron Inc. was accused of deceptive pricing. Among the provided options, C. Cybertron advertised a large price reduction from a phony high retail list price is the one that most accurately describes what likely occurred if Cybertron Inc. was involved in deceptive pricing. This scenario aligns with known deceptive practices where sellers inflate the original prices of products to make discounts seem more substantial than they are, which can mislead consumers.
Deceptive pricing can significantly impact consumer trust and violates advertising standards set by regulatory bodies such as the Federal Trade Commission (FTC). The FTC requires all factual claims about product performance to be truthful and substantiated, and it prohibits advertisements that are untrue or lead to economic injury for consumers. Engaging in such deceptive practices can have serious legal repercussions for a company.
Lauren, Kathryn and Emily close their medical business, pool their assets and open a surf shop. The state where they reside assesses corporations at an 8% tax rate and 12% on individuals, regardless of income. The sole requirement the girls are considering is finding the most tax advantageous business entity. For the foreseeable future the girls are not going to take dividends from the profits but reinvest profits back into the business. The wisest business entity would be
a. professional corporation.
b. limited liability corporation.
c.C corporation.
d. S corporation.
The wisest business entity would be an S corporation. Option d S corporation is correct.
Considering the goal of finding the most tax-advantageous business entity and the fact that Lauren, Kathryn, and Emily plan to reinvest profits rather than take dividends, the best option would likely be an S corporation. While individual tax rates in their state are 12%, the corporate rate is 8%.
However, C corporations face double taxation on profits; first at the corporate level and then at the shareholder level when dividends are paid.
S corporations, on the other hand, allow profits (and losses) to be passed through directly to the owners' personal income without being subject to corporate tax rates. Since the group is not taking dividends, this circumvents the higher individual tax and avoids double taxation.
In contrast, a limited liability corporation (LLC) could also offer pass-through taxation, but the specifics depend on how the LLC is taxed; it can be treated as a partnership or as a corporation.
A professional corporation is typically used by licensed professionals, which might not be applicable to a surf shop business and can also have different tax implications. Option d S corporation is correct.
In a _____ organizational structure, project managers work full-time on projects, while team members report to both functional managers and project managers.
Answer:
The correct answer is letter "D": strong matrix.
Explanation:
A strong matrix organization is one in which employees have two managers: the functional manager and the project manager. Authority is shared between these two and the approach aims to achieve balance in the hierarchy of each of them. In this type of organization project managers tend to work full time as well as most of the company's personnel.
Suppose economists observe that an increase in government spending of $10 billion raises the total demand for goods and services by $30 billion.
a. If these economists ignore the possibility of crowding out, what would they estimate the marginal propensity to consume (MPC) to be?
b. Now suppose the economists allow for crowding out. Would their new estimate of the MPC be larger or smaller than their initial one?
Answer:
Consider the following calculations
Explanation:
a. MPC = dC/dY =30-10/30 =2/3
b. MPC will be smaller because the MPC relies heavily upon the real (inflation-adjusted) rate of interest.And crowding out causes increase in interest rate. A high rate of interest causes spending in the future to become increasingly attractive due to the intertemporal substitution effect on consumption.
Because a rate increase primarily decreases the present value of lifetime wealth, the consumer relies on becoming a lender to offset this effect. In a two period model, as S(1+r) increases with the interest rate, so does future income[C= -(1+r)c +we(1+r)]. Therefore, every dollar of current income spent by the consumer is 1(1+r) dollars the consumer will not be able to spend in the second period.
An acceptance is valid if:
Select one:
a. The intent is subjectively manifested
b. There are material changes from the offer
c. The acceptance is properly communicated to the buyer
d. The communication by nonauthorized means is effective when received
Answer:
The correct answer is A
Explanation:
Acceptance is the term which is defined in the law as the act or a promise on the part of the offeree, that indicating or stating the willingness to be bound by the terms and conditions (legally) mentioned in the offer.
For acceptance to be valid or essential, the requirement is that both the parties had a subjective perspective involved in performing the manifesting their assent.
Therefore, it will be valid is the intent is subjectively manifested.
7 Houseman, Inc. anticipates sales of 60,000 units, 58,000 units, 61,000 units and 60,000 units in July, August, September and October, respectively. Company policy is to maintain an ending finished-goods inventory equal to 50% of the following month's sales. On the basis of this information, how many units would the company plan to produce in September?
Answer:
60,500 units
Explanation:
Data provided in the question:
Month sales
July 60,000 units
August 58,000 units
September 61,000 units
October 60,000 units
Ending inventory = 50% of the following month's sales
Now,
Total inventory required in September
= Sales in September + Ending inventory of September
= 61,000 units + 50% of sales in October
= 61,000 units + ( 0.50 × 60,000 )
= 61,000 units + 30,000 units
= 91,000 units
Number of units to be produced in September
= Total inventory required in September - Ending inventory of August
= 91,000 units - ( 50% of 61,000 )
= 91,000 units - 30,500 units
= 60,500 units