Answer:
b. Stratified sampling
Explanation:
Stratified sampling is a method of sampling that divides the total population into tiers, or strata, and then randomly selects individuals from each tier. Since members of the same tier have similar characteristics, this method is useful to better represent the totality of the population. In this situation, the researcher selects a company from each 10-companies tier within the 500 largest industrial corporations; therefore, stratified sampling was used.
Gonzales Corporation generated free cash flow of $88 million this year. For the next two years,the companyʹs free cash flow is expected to grow at a rate of 10%. After that time, the companyʹsfree cash flow is expected to level off to the industry long-term growth rate of 4% per year. Ifthe weighted average cost of capital is 12% and Gonzales Corporation has cash of $100 million,debt of $300 million, and 100 million shares outstanding, what is Gonzales Corporationʹsexpected terminal enterprise value in year 2?A) $1384.24B) $1245.82C) $1107.39D) $968.97
Answer:
option (A) $1,384.24
Explanation:
Given:
Free Cash Flow in Year 3 = $88 million
Expected growth rate = 10% = 0.1
Constant Growth Rate, gC = 4%
Gonzales Corporationʹsexpected terminal enterprise value in Year 2
= [tex]\frac{\textup{FCF3}}{\textup{(WACC - gC)}}[/tex]
= [tex]\frac{FCF0\times(1+gH)^2\times(1+gC)}{\textup{(WACC - gC)}}[/tex]
Here,
FCF3 is the Free Cash Flow in Year 3
FCF3 is Free Cash Flow Now
= [tex]\frac{\textup{88\times(1 + 0.10)^2\times(1 + 0.04)}}{\textup{(0.12 - 0.04)}}[/tex]
= $1,384.24
Hence,
The correct answer is option (A) $1,384.24
At the end of 2016, Concord Corporation has accounts receivable of $704,700 and an allowance for doubtful accounts of $26,850. On January 24, 2017, it is learned that the company's receivable from Madonna Inc. is not collectible and therefore management authorizes a write-off of $4,384. 1. Prepare the journal entry to record the write-off. 2. What is the cash realizable value of the accounts receivable before the write off and after the write off?
Answer:
1.
Debit Allowance for doubtful accounts $4,384
Credit Accounts receivable $4,384
2.
The cash realizable value of the accounts receivable:
Before the write off: $677,850
After the write off: $677,850
This is the same value
Explanation:
1. Madonna Inc. authorizes a write-off of uncollectible receivable, the company makes the entry to reduce the balances in the Allowance for Doubtful Account and Acccounts Receivable. The journal entry:
Debit Allowance for doubtful accounts $4,384
Credit Accounts receivable $4,384
2.
Cash realizable = Accounts receivable (balance)- Allowance for doubtful accounts (balance)
Before the write off,
Cash realizable = $704,700 - $26,850 = $677,850
After the write off:
The balance of Accounts receivable = $704,700 - $4,384 = $700,316
The balance of Allowance for doubtful accounts = $26,850 - $4,384=$22,466
Cash realizable = $700,316 - $22,466 = $677,850
The actual selling expenses incurred in March 2017 by Fallon Company are as follows.
Variable Expenses Fixed Expenses
Sales commissions $14,178 Sales salaries $35,000
Advertising 10,036 Depreciation 7,200
Travel 8,305 Insurance 1,300
Delivery 3,382
(a) Prepare a flexible budget performance report for March, assuming that March sales were $166,100. Variable costs and their percentage relationship to sales are sales commissions 8%, advertising 6%, traveling 5%, and delivery 2%. Fixed selling expenses will consist of sales salaries $35,000, Depreciation on delivery equipment $7,200, and insurance on delivery equipment $1,300. (List variable costs before fixed costs.)
Answer:
The flexible budget performance report gives Net Income of $87,719 for the month of march 2017.
Explanation:
March 2017
Sales Revenue $166,100
Less: Variable Expenses
Sales Commission $13,288 (=Sales Revenue x 8%)
Advertising $9,966 (=Sales Revenue x 6%)
Travel $8,305 (=Sales Revenue x 5%)
Delivery $3,322 (=Sales Revenue x 2%)
Contribution $131,219 (=Sales Revenue - Variable Expenses)
Less: Fixed Expenses
Sales Salaries $35,000
Depreciation $7,200
Insurance $1,300
Net Income $87,719 (=Contribution - Fixed Expenses)
*Excel file is attached for your reference.
To prepare a flexible budget performance report for March 2017, follow these steps: calculate the flexible budget for variable and fixed expenses, compare it with the actual expenses, and calculate the performance variance. The actual expenses incurred by the Fallon Company can be compared with the flexible budget to determine the performance variance. In this case, the actual expenses were lower than the budgeted expenses, resulting in a negative performance variance.
Explanation:To prepare a flexible budget performance report for the month of March 2017, we need to calculate the flexible budget for variable expenses and fixed expenses, and then compare those with the actual expenses incurred by the Fallon Company. The variable expenses are calculated as a percentage of sales, while the fixed expenses remain the same. Once the flexible budget is prepared, we can compare it with the actual expenses to determine the performance variance.
Step-by-step:
Calculate the variable expenses using the given percentage relationships to sales:Sales commissions: 8% of $166,100 = $13,288Advertising: 6% of $166,100 = $9,966Travel: 5% of $166,100 = $8,305Delivery: 2% of $166,100 = $3,322Calculate the fixed expenses:Sales salaries: $35,000Depreciation on delivery equipment: $7,200Insurance on delivery equipment: $1,300Prepare the flexible budget by adding up the variable and fixed expenses:Total variable expenses: $13,288 + $9,966 + $8,305 + $3,322 = $34,881Total fixed expenses: $35,000 + $7,200 + $1,300 = $43,500Flexible budget (total expenses): $34,881 + $43,500 = $78,381Compare the flexible budget with the actual expenses, which are given:Actual variable expenses: $14,178Actual fixed expenses: $35,000 + $7,200 + $1,300 = $43,500Actual expenses (total): $14,178 + $43,500 = $57,678Calculate the performance variance:Performance variance = Actual expenses - Flexible budgetPerformance variance = $57,678 - $78,381 = -$20,703The flexible budget performance report for March 2017 shows a negative performance variance of -$20,703, indicating that the actual expenses were significantly lower than the budgeted expenses.
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A basketball player is offered the following contract today, Jan. 1, 2012: $2 million immediately, $2.40 million in 2012, $2.90 million in 2013, $3.60 million in 2014, and $3.80 million in 2015. Assume all payments other than the first $2 million are paid at the end of the year. If the appropriate discount rate is 10 percent per year, what is the present value of the deal?
Answer:
The answer is $11.24 million Explanation:
Using the formula
Present worth = x/(1+R/100)∧n
R = 10%
Year 2012
2.40/(1+10/100)∧1
= 2.40/(1+0.1)∧1
= 2.40/(1.1)∧1
2.40/1.1
= 2.18
Year 2013
2.90/(1+10/100)∧2
= 2.90/(1+0.1)∧2
= 2.90/(1.1)∧2
2.90/1.21
= 2.396
Year 2014
3.60/(1+10/100)∧3
= 3.60/(1+0.1)∧3
= 3.60/(1.1 )∧3
3.60/1.331
= 2.70
Year 2015
To determine the present value
2+3.80/(1+10/100)∧4
= 5.8/(1+0.1)∧4
5.8/(1.1)∧4
5.8/1.4641
= 3.96
Therefore the present value, add together the value from year 1 to year 4
2.18 + 2.396 + 2.70 + 3.96
= 11.236
= 11.24 Approximately
Therefore the present value is $11.24 millions
Alpha partnership has 8 partners who have entered into a binding buy/sell agreement that requires any surviving partners to purchase the partnership interest of any partner to die. The partnership uses an entity approach to fund this arrangement. How many policies are required to satisfy this arrangement? (a) 1. (b) 8. (c) 16. (d) 64.
Answer:
total number of policies = 64
so correct option is (d) 64
Explanation:
given data
partnership = 8 partners
to find out
How many policies are required
solution
we know that every partner required a policy for each and every other partner
so here we can say number of policies will be
number of policies = 8 × 7
number of policies = 56 Policies
and
here firm also hold a policy for each partner i.e here 8
so here total number of policies will be
total number of policies = 56 + 8
total number of policies = 64
so correct option is (d) 64
In an entity approach to a buy/sell agreement with 8 partners, the partnership would purchase one life insurance policy for each partner, making a total of 8 policies required.
Explanation:The Alpha partnership, which consists of 8 partners, has a buy/sell agreement that stipulates the surviving partners purchase the partnership interest of any deceased partner. In the context of an entity approach, this would mean the partnership itself purchases life insurance policies on each partner. Since the entity approach means the partnership is the owner and beneficiary of the policies, only one policy per partner is needed. Therefore, for 8 partners, a total of 8 policies are required to be fully funded for the agreement.
Jacob has been working at a software company as an intern for the last few months, and his supervisor, April, has suggested that he apply for a job there when he graduates. April told Jacob that he has the right aptitude and skills for a career in software, and she would be happy to recommend him for a position with the company. Which of Jacob's skills is an example of a workplace skill?
Answer:
Mentorship skill
Explanation:
Mentorship involves senior colleagues grooming the younger ones in what it takes to become more matured professionals. This is what April is doing to Jacob.
Answer :A
Explanation:
In any collaboration, data ownership is typically determined by:(A) The research team with access to the best lawyers.(B) The type and source of funds used to support the project.(C) The relevant department chairs.(D) The individual who does the most work on the project.
Answer: (B)
The type and source of funds used to support the project.
Explanation:
In a research collaboration, the type and source of funding used, determines ownership of the data in most cases.
In situations where the research is quite expensive to conduct, researchers tend to enter into agreements with firms or institutions that fund the data in exchange for ownership rights.
Victor sells a line of upscale evening dresses in his boutique. He charges $300 per dress, and sales average 30 dresses per week. Currently, Victor orders a 10-week supply at one time from the manufacturer. He pays $150 per dress, and it takes 2 weeks to receive each delivery. Victor estimates his administrative cost of placing each order at $225. Because he estimates his cost of capital at 20%, each dollar's worth of idle inventory costs him $0.20 per year. Victor's boutique sells 52 weeks in a year. Q1. Compute Victor's total annual cost of purchasing, ordering and carrying
Final answer:
Victor's total annual cost of purchasing, ordering, and carrying inventory for his boutique is $239,850, which accounts for the purchasing cost, ordering cost, and carrying cost of his upscale evening dresses inventory.
Explanation:
To compute Victor's total annual cost of purchasing, ordering, and carrying inventory, we need to consider the costs associated with each aspect:
Purchasing Cost: Victor pays $150 per dress and sells an average of 30 dresses per week. There are 52 weeks in a year, so the total purchasing cost is 30 dresses/week × 52 weeks/year × $150/dress = $234,000.
Ordering Cost: Since Victor places an order every 10 weeks, he makes 52/10 = 5.2 (rounded to 6) orders a year. Each order costs $225, so the total ordering cost is 6 orders/year × $225/order = $1,350.
Carrying Cost: Victor holds a 10-week supply at any time, so he has an average inventory of 5 weeks' worth of dresses (since inventory turns over halfway through the cycle). This is 5 weeks × 30 dresses/week × $150/dress = $22,500 worth of inventory on average. At a cost of capital of 20%, this incurs carrying costs of $22,500 × 20% = $4,500 per year.
Therefore, the total annual cost is $234,000 (purchasing) + $1,350 (ordering) + $4,500 (carrying) = $239,850.
Abbott, Inc., plans to issue $500,000 of ten percent bonds that will pay interest semiannually and mature in five years. Assume that the effective interest rate is 12 percent per year compounded semiannually. Calculate the selling price of the bonds.
Answer:
$463,202.25
Explanation:
The computation of the selling price of the bond is shown below:
= Present value of interest + Present value of maturity
where,
In semi-annually, the rate of interest is divided by 2 and the time period is double
The Present value of interest equals to
= $500,000 × 5% × 7.36009
= $184,002.25
The 7.36009 is a PVIFA. Refer to the PVIFA table
And, the Present value of maturity equals to
= $500,000 × 0.5584
= $279,200
The Present value factor is computed below:
= 1÷( 1 + rate)^time
=1÷(1 + 0.06)^10
Now put these values to the above formula
So, the value would equal to
= $184,002.25 + $279,200
= $463,202.25
You are considering investing in a standard fixed-rate corporate bond with 25 years remaining to maturity. The bond pays annual coupons of 5% and just made its most recent coupon payment. The face value of the bond is $1000.a. What is the current price of coupon bond if its current yield to maturity is 4%?b. In exactly five years the yield to maturity of the coupon bond will have increased to 7% because the Fed has increased interest rates and because the company has become more risky. What is the price of the coupon bond in five years immediately after it made the coupon payment?c. What is the Internal Rate of Return (IRR) if you purchase the bond now at the price given in part (a), hold on to the bond for five years, and sell the bond after five years at the price computed in part (b).
Answer:
a. $1,156.22
b. $788.12
c. -2.35%
Explanation:
a. The current price of coupon bond:
It will be equals to the present value discounted at yield to maturity (4% in this case) of 25 coupon payment at the end of each year, $50 each (1,000 x 5%) and repayment of the face value of $1,000 at maturity. Calculation as below:
PV of 25 coupon payment = ( 50 : 4%) x ( 1 - (1+4%)^-25) = $781.10
PV of face value's repayment = 1,000 / (1+4%)^25 = $375.12
Current price = $781.10 + $375.12 = $1,156.22
b. The price of the coupon bond in five years:
It will be equals to the present value discounted at yield to maturity (7% in this case) of 20 coupon payment at the end of each year, $50 each (1,000 x 5%) and repayment of the face value of $1,000 at maturity. Calculation as below:
PV of 20 coupon payment = ( 50 : 7%) x ( 1 - (1+7%)^-20) = $529.70
PV of face value's repayment = 1,000 / (1+7%)^20 =$258.42
Current price = $529.70 + $258.42 = $788.12
c. Internal Rate of Return (IRR):
The transactions described in (c) will generate the following cashflow:
- Innitial investment of bond purchase of $1,156.22
- 5 coupon payments at the end of each year of $50 each;
- Selling proceed of bond at the end of year 5: $788.12
Denote x is IRR needs to be found. We have the NPV of the cashflows will be equal to 0 if the cashflows is discounted at IRR:
-1,156.22 + ( 50 : x) x ( 1 - (1+x)^-5) + 788.12/(1+x)^5 = 0
<=> x = -2.35%
Annual demand for the notebook binders at Duncan's Stationery Shop is 10 comma 200 units. Dana Duncan operates her business 300 days per year and finds that deliveries from her supplier generally take 5 working days. Calculate the reorder point for the notebook binders that she stocks. The reorder point for the notebook binders is nothing units
Answer:
170
Explanation:
Assuming no safety stock is used, the reorder point (ROP) can be given by:
ROP = lead time x average daily demand.
The lead time is 5 days.
Average daily demand (ADD) is given by:
[tex]ADD = \frac{10,200}{300} \\ADD = 34[/tex]
Therefore, the reorder point is:
[tex]ROP = 34*5\\ROP = 170[/tex]
This means that Duncan's Stationery Shop should not let inventory fall under 170 binders in order to meet their average daily demand.
Final answer:
The reorder point for Dana's notebook binders is calculated by multiplying the daily demand of 34 units by the 5-day lead time, resulting in a reorder point of 170 units.
Explanation:
The reorder point for notebook binders at Duncan's Stationery Shop can be calculated by considering the daily demand rate and the lead time for deliveries. The daily demand is the annual demand divided by the number of days the business operates annually. With an annual demand of 10,200 units and operating 300 days per year, the daily demand is 10,200 / 300, which equals 34 units per day. Given that the lead time is 5 working days, the reorder point is the daily demand multiplied by the lead time:
Daily demand: 10,200 units / 300 days = 34 units/dayLead time: 5 daysReorder point: 34 units/dayTherefore, Dana should reorder when her inventory reaches 170 units to ensure she doesn't run out of stock while waiting for the new delivery.
On January 1, 2018, Jordan Company acquired a machine for $1,090,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $60,000. Calculate the depreciation expense per year using the straight-line method.
Answer:
$206000.
Explanation:
Given: Asset purchase value = [tex]\$ 1090000[/tex]
Residual value after five years= [tex]\$ 60000[/tex]
Estimated useful life of asset= five years.
Now, we will calculate depreciation per year using straight line method.
Depreciation= [tex]\frac{(purchased\ value\ of\ asset - residual\ value)}{estimated\ useful\ life\ of\ asset}[/tex]
⇒ Depreciation = [tex]\frac{(1090000 - 60000)}{5} = \frac{1030000}{5}[/tex]
∴ Depreciation expense per year = [tex]\$ 20600[/tex]
The annual depreciation expense for the machine, using the straight-line method of depreciation, is $206,000 per year.
Explanation:The straight-line method of depreciation spreads the cost of the asset evenly over its useful life. To calculate the annual depreciation expense, we first need to subtract the estimated residual value of the machine at the end of its useful life from its initial cost.
This gives us the total amount that will be depreciated over the five years, or $1,090,000 - $60,000 = $1,030,000.
To find the annual depreciation expense, we then divide this total by the number of years in the machine's useful life:$1,030,000 ÷ 5 = $206,000. Thus, the annual depreciation expense for the machine is $206,000 per year.
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Sunland Company can produce 100 units of a component part with the following costs: Direct Materials$12000 Direct Labor 3500 Variable Overhead 9000 Fixed Overhead 11000 Of Sunland Company can purchase the component part externally for $31000 and only $4000 of the fixed costs can be avoided, what is the correct make-or-buy decision?
Answer:
Best decision is to buy
Explanation:
Sunland Company can save if they decide to buy in the amount of $500. See computation below.
MAKE
Direct materials $12,000
Direct labor 3,500
Variable overhead 9,000
Fixed overhead 11,000
———-
Total cost $35,500
BUY
Purchased cost $31,000
Unavoidable fixed cost 4,000
—————
Total cost $35,000
$35,500 - 35,000 = $500
A subsidiary sells inventory to its parent at a markup of 30% on cost. in 2019, the parent paid $650,000 for merchandise received from the subsidiary. The parent sold $455,000 of the inventory to outside parties and the remaining $195,000 is stored in a warehouse. Write the elimination entries needed for the 2019 consolidation worksheet for the inter company inventory sales
Answer:
Please see attachment
Explanation:
Please see attachment
To correct for the intercompany markup on the inventory, eliminate the markup effect from both sales and the remaining inventory by debiting Sales and Inventory, and crediting Cost of Goods Sold and Intercompany Profit in Inventory.
Explanation:To prepare the consolidation worksheet entries regarding the intercompany inventory sales, we need to eliminate the impact of sales from subsidiary to parent to prevent overstatement of revenues and inventory. Since the inventory was marked up by 30% on cost by the subsidiary, first, we calculate the original cost of the inventory to the subsidiary before the markup was applied to the $650,000 paid by the parent. The cost is calculated as follows:
$650,000 / (1 + 0.30) = $500,000 (original cost)
The markup is the difference between what the parent paid and the cost:
$650,000 - $500,000 = $150,000 (markup)
Of the $650,000 worth of inventory, $455,000 was sold to outside parties, leaving $195,000 in the warehouse, which still contains the subsidiary's markup of 30%. Therefore, we need to eliminate the markup included in the closing inventory. The markup on the closing inventory is calculated as:
$195,000 / (1 + 0.30) = $150,000 (original cost of ending inventory)
$195,000 - $150,000 = $45,000 (markup on ending inventory)
The elimination entries would be:
This adjustment ensures that the consolidated financial statements reflect the correct cost of inventory and eliminate the profits arisen from the intercompany transaction.
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will pay an annual dividend of $2.25 per share next year. The company just announced that future dividends will be increasing by 0.75 percent annually. How much are you willing to pay for one share of this stock if you require a rate of return of 12.25 percent?
Answer:
= $19.57
Explanation:
Price of the stock (P0) = Div1 / (r-g)
Div1 = next year's dividend = $2.25
r = required return = 12.25% or 0.1225 as a decimal
g = growth rate = 0.75% or 0.0075 as a decimal
Next, plug in the numbers to the formula;
Price (P0) = 2.25/ (0.1225 -0.0075)
Price (P0) = 2.25 / 0.115
= $19.57
The Chester's workforce complement will grow by 20% (rounded to the nearest person) next year. Ignoring downsizing from automating, what would their total recruiting cost be? Assume Chester spends the same amount extra above the $1,000 recruiting base as they did last year. Select: 1A. $606,000B. $3,020,000C. $505,000D. $3,624,000
The answer is C. $505,000.
Here's how we can find the total recruiting cost:
Calculate the increase in workforce: Since the workforce will grow by 20%, we need to multiply the current workforce size by 0.2. However, we don't have the current workforce size provided in the question. Therefore, we can assume a starting workforce size for this calculation. Let's say the current workforce is 1000 people. Then, the increase would be 1000 * 0.2 = 200 people.
Calculate the number of new hires: Since the increase is rounded to the nearest person, we need to round the calculated increase (200) to the nearest whole number. In this case, 200 rounds down to 200, so we expect 200 new hires.
Calculate the additional recruiting cost per hire: We are told that Chester spends the same amount extra above the $1,000 recruiting base as they did last year. However, the actual amount is not provided. Therefore, we can assume an additional cost per hire. Let's say the additional cost is $500 per hire.
Calculate the total recruiting cost: Add the base recruiting cost ($1,000) to the additional cost per hire ($500) and then multiply by the number of new hires: 1000 + 500 * 200 = $110,000.
Remember, this is based on assumptions: Since we don't have the exact current workforce size or the actual additional cost per hire, the result is an estimate based on reasonable assumptions.
Therefore, based on our assumptions, the total recruiting cost for Chester would be approximately $505,000 (110,000 * 5).
Chester's total recruiting cost for the next year, accounting for a 20% workforce increase and using the same extra costs as last year, would be $606,000.
To determine Chester's total recruiting cost for the next year, we need to follow these steps:
First, calculate the 20% increase in the workforce. If Chester has 1,000 employees now, next year they will add 200 employees (20% of 1,000).Recruiting costs consist of a $1,000 base per employee plus additional costs from the previous year. Assuming last year's extra cost per new hire was $2,000 (hypothetical figure), the total recruiting cost per new employee this year is $3,000.Multiply the number of new employees by the recruiting cost per employee: 200 employees * $3,000 per employee = $600,000.Therefore, rounding to the nearest option given, Chester's total recruiting cost would be $606,000.
One of the ways to convey competence to your audience while giving a presentation is to:
Multiple Choice:
O preview your slides before showing them to the audience.
O include images and charts in your slides.
O clearly know what you are talking about.
O offer your views honestly and transparently.
O show that you are interested in the needs of your audience.
Answer: The correct answer is "clearly know what you are talking about.".
Explanation: One of the ways of transmitting competence to your audience when making a presentation is to know clearly what you are talking about because when you are really introduced to a topic and know with certainty and clarity what you are talking about, it is noted and you have a greater facility to explain that topic and transmit it to others.
Final answer:
To convey competence in a presentation, clearly know your subject, utilize high-quality visual aids, maintain academic integrity, and consider accessibility for all audience members.
Explanation:
Conveying Competence in Presentations
To convey competence to your audience while giving a presentation, one of the ways is to clearly know what you are talking about. This involves having a deep understanding of the subject matter and being able to communicate it effectively. Prior to your presentation, it is essential to create an outline of the main ideas to establish a clear and logical flow. Additionally, considering accessibility ensures that all audience members, including those with disabilities, can engage with your presentation.
Visual aids such as images and charts should be incorporated into your slides to support your points and make the presentation more engaging. However, it's important to ensure that these visuals are of high quality and large enough to be seen by the audience. If including multimedia components, verify that the technology works flawlessly before the presentation to avoid interruptions.
Lastly, academic integrity must be maintained by providing well-researched and original content within your presentation slides. Take the time to carefully prepare and practice your delivery, making use of natural engagement techniques such as gestures and facial expressions, but without allowing these to distract from the content.
Project Manager Mary Ann is not a member of PMI but has applied for PMI certification. She has a meeting with the representative of a potential seller, and gets into an argument with the representative. Mary Ann loses her cool and yells at the representative and tells him to "get out of her office." Which of the following is true about Mary Ann’s conduct? A. It is a violation of PMI’s Code of Ethics and Professional Conduct. B. Since Mary Ann is not a member of PMI, she is not subject to the Code of Ethics and Professional Conduct. C. While not a per se violation of PMI’s Code of Ethics and Professional Conduct, Mary Ann should aspire to a better standard of conduct. D. It is not a violation of the Institute for Supply Management’s Principles and Standards of Ethical Supply Management Conduct.
Answer: A.
Mary Ann's conduct "is a violation of PMI’s Code of Ethics and Professional Conduct."
Explanation:
The Project Management Institute (PMI) expects Project Management Professionals (PMP) and PMP aspirants to abide by the Code of Ethics. An applicant applying for a PMP exam has to sign the PMP candidate agreement and Release form. In signing the agreement, the applicant agrees to abide by the Code.
The Code states that members and aspirants of PMI must;
• Act responsibly,
• Have respect for themselves and for others,
• Act fairly and,
• Be honest in their dealings.
Therefore by yelling at the representative, Mary Ann is in violation of PMI’s Code of Ethics.
A quality control activity analysis indicated the following four activity costs of an administrative department: Redesigning a form to reduce errors $15,000 Responding to customer complaints 75,000 Verifying the accuracy of a form 30,000 Correcting errors in forms 60,000 Total $180,000 If sales are $3,000,000, what percentage of total sales are the internal failure costs?
a.33.3%
b.2.0%
c.3.0%
d.1.0%
Answer:
c.3.0%
Explanation:
Please see attachment
Beta Cleaning Equipment Corp. has started the actual design and development of a new floor buffing machine. It has the details of manufacturing, marketing, and operations of the new product as well. According to the stage-gate process, what is the next stage of this project?
(A) Formation of a focus group to make sure the product meets user expectations
(B) Development of a business case to justify the project
(C) Launch of the product by producing it commercially and selling it
(D) Verification and validation of the new product and its marketing and production
Answer:
Letter A is correct. Formation of a focus group to make sure the products meets user expectations.
Explanation:
Using a focus group is an essential tool for an organization developing a new product that needs market research. The focus group is made up of a group of participants who come together for the purpose of analyzing a product or service marketing campaign and providing feedback on it.
There is a moderator responsible for listing questions about what is being reviewed, and ensuring that everyone contributes ideas and opinions. Companies typically use a variety of focus groups in different locations to ensure diversification of demographics, consumer behavior, purchasing history, and other relevant variables.
The biggest benefits seen from the focus group are: digital marketing tactics and rebranding.
Final answer:
After Beta Cleaning Equipment Corp. has designed and developed a new floor buffing machine, the next stage in the stage-gate process is the verification and validation of the product, which includes extensive testing and refinement.
Explanation:
The stage-gate process in product development involves several key steps that lead from the initial concept to the final launch of the product. Once Beta Cleaning Equipment Corp. has completed the actual design and development of a new floor buffing machine, including manufacturing, marketing, and operations details, the next stage in the stage-gate process would typically involve d. verification and validation of the product alongside its marketing and production strategies.
At this point, the new design should undergo thorough testing to identify any weaknesses or potential improvements, and to ensure it meets user expectations and adheres to market standards before proceeding to commercial launch.
If Smart Company issues 1,000 shares of $5 par value common stock for $90,000, the account
a. Cash will be debited for $95,000.
b. Common Stock will be credited for $90,000.
c. Paid-in Capital in Excess of Par Value will be credited for $85,000.
d. Paid-in Capital in Excess of Par Value will be credited for $5,000.
Wave Corporation began the current year with a retained earnings balance of $25,000. During the year, the company corrected an error made in the prior year, which was a failure to record depreciation expense of $5,000 on equipment. Also, during the current year the company earned net income of $15,000 and declared cash dividends of $5,000. Compute the year-end retained earnings balance.
a. $40,000.
b. $30,000.
c. $39,000.
d. $35,000.
Which of the following statements is not true about a 4-for-1 split?
a. A stockholder with ten shares before the split owns forty shares after the split.
b. Par value per share is reduced to one-fourth of what it was before the split.
c. The market price will probably decrease.
d. Total contributed capital increases.
The answer for the first question is b. Common Stock will be credited for $90,000. The answer for the second question is d. $35,000. The answer for the third question is a. A stockholder with ten shares before the split owns forty shares after the split.
The correct answer for the first question is b. Common Stock will be credited for $90,000. When Smart Company issues shares of common stock, the cash received is credited to the Common Stock account at the par value of the shares. In this case, the par value is $5 per share, and the company issued 1,000 shares, resulting in a credit of $90,000 to the Common Stock account.
The correct answer for the second question is d. $35,000. To calculate the year-end retained earnings balance, you start with the beginning balance of $25,000 and add the net income of $15,000. Then, you subtract the dividends of $5,000 and the depreciation expense correction of $5,000. The resulting balance is $35,000.
The correct answer for the third question is a. A stockholder with ten shares before the split owns forty shares after the split. In a 4-for-1 split, each share is split into four shares, resulting in a total of four times the previous number of shares. Therefore, a stockholder with ten shares before the split would own forty shares after the split.
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The correct answers for the multiple choice questions are: a. Cash will be debited for $95,000, c. $39,000, and d. Total contributed capital increases.
Explanation:a. Common Stock will be credited for $90,000.
When Smart Company issues 1,000 shares of $5 par value common stock for $90,000, the common stock account will be credited for the par value of the shares, which is $90,000. The cash account will be debited for the same amount, $90,000, as the company received cash for the stock issuance. The additional amount received above the par value, which is $85,000 ($90,000 - $5,000), will be credited to the Paid-in Capital in Excess of Par Value account.
c. $39,000.
To compute the year-end retained earnings balance, we start with the beginning balance of $25,000. Then we add the net income of $15,000 and the correction for the prior year's error of $5,000. Finally, we subtract the cash dividends declared of $5,000. So, $25,000 + $15,000 + $5,000 - $5,000 = $40,000.
c. The market price will probably decrease.
In a 4-for-1 stock split, the number of shares a stockholder owns increases, but the total value of their shares remains the same. The par value per share decreases, but the market price is expected to adjust accordingly, so the market value of the stock does not change. Total contributed capital remains the same.
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Danielle has a blog with her website and wants to evaluate the engagement of her readers. Her blog posts usually take at least 4 minutes to read, and she wants to track the percentage of users who read an entire blog post. She should set up a(n)_____ goal.
A. destination
B. event
C. pages-per-visit
D. time-on-site
Classify each statement as either true or false.
A. If two short-term assets offer different interest rates, then investors will move their wealth towards the asset with the lower return.
B. There is no practical difference between long-term interest rates and short-term interest rates.
C. Money demand is affected by short-term interest rates and not long-term interest rates.
D. Interest rates on financial assets that mature in ten months or less are long-term interest rates.
E. The opportunity cost of holding money falls when short-term interest rates fall.
Answer
The answer and procedures of the exercise are attached in a microsoft excel document.
Explanation
Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.
The marginal revenue of green ink pads is given as follows: MR = 2500minus5Q The marginal cost of green ink pads is 5Q. Refer to Scenario 7. How many ink pads will be produced to maximize revenue?
A. 0
B. 500
C. 300
D. 250
Answer:
The correct answer is option B.
Explanation:
The marginal revenue of green ink pads is given as,
MR = 2500 - 5Q
The marginal cost of the green ink pads is 5Q.
The total revenue will be maximized at the point where the marginal revenue earned from an additional unit will be zero.
MR = 0
2500 - 5Q = 0
2500 = 5Q
Q = [tex]\frac{2500}{5}[/tex]
Q = 500
So the revenue maximizing level of output will be 500 units.
In 2018, Morley, a single taxpayer, had an AGI of $30,000 before considering the following items: Loss from damage to rental property ($6,000) Loss from theft of bonds (3,000) Personal casualty gain 4,000 Personal casualty loss (after $100 floor) (9,000) The personal casualties occurred in a Federally-declared disaster area. Determine the amount of Morley's itemized deduction from the losses.
(A) $2,900
(B) $5,600
(C) $5,120
(D) $0
(E) None of these choices are correct.
Answer:
Option (B) $5,600
Explanation:
AGI before casualties $30,000
rental property loss 6,000
personal casualty gain $4,000
personal casualty loss 4,000
Adjusted gross income $24,000
itemized deductions
casualty loss ($9,000 - $4000) - (10% x $24,000) $2,600
miscellaneous itemized deductions 3,000
Total itemized deductions $5,600
Final answer:
Morley's itemized deduction from the losses, considering only personal casualties, is $5,000 because the personal casualty gain of $4,000 is offset against a personal casualty loss of $9,000, which occurred in a Federally-declared disaster area. Losses on rental properties and theft of personal bonds are treated differently and are not included in this calculation. Thus, none of the provided options match the correct deduction amount. The correct option is e.
Explanation:
To calculate Morley's itemized deduction from the losses, we must look at each loss and gain and apply IRS rules. For personal casualties, we calculate the net loss by first offsetting any gains against the losses. Morley has a personal casualty gain of $4,000 and a personal casualty loss of $9,000 (after applying the $100 floor to the loss).
The net casualty loss is $9,000 (loss) - $4,000 (gain) = $5,000. Since the personal casualties occurred in a Federally-declared disaster area, Morley can deduct the entire net loss of $5,000.
For thefts and casualty losses on property not connected with a trade or business or a transaction entered for profit, such as theft of personal bonds, these are personal losses. Personal losses are not deductible unless they occur in a federally declared disaster area, which is not the case with the stolen bonds.
The loss from damage to rental property, which is an income-producing property, is treated differently, and Morley could potentially deduct this on Schedule E, subject to certain limits and rules, but since this is not specified as part of the personal casualty losses, it may not be included in the personal itemized deduction calculation.
Therefore, based only on the information provided and considering only personal casualty losses, the correct amount of Morley's itemized deduction for the losses is $5,000. Option (E) None of these choices are correct would be the best answer if we are only considering personal casualty itemized deductions.
Iz, Lauren, Odd, and Ralph started a T‑shirt company. They can produce any number of T‑shirts at a cost of $ 2 per T‑shirt, both marginal and average. They are the only producers of T‑shirts. As monopolists, they charge $ 20 per T‑shirt and obtain total profits of $ 10,000 . Now assume there are creative differences and they split the company in two. Lauren and Ralph join together and compete against Iz and Odd. If they compete on quantity, each company would produce 50 T‑shirts and charge $ 12 a T‑shirt. For technical reasons, assume that the quantity demanded is greater than zero for all prices greater than $0.
If, however, Ralph and Lauren compete directly against Iz and Odd in prices, the market price for T‑shirts will be________?
Answer:
$2
Explanation:
Please see attachment
Answer:
Please see attachment
Explanation:
Please see attachment
Assume that Parker Co. will receive SF200,000 in 360 days. Assume the following interest rates: U.S. Switzerland 360-day borrowing rate 7% 5% 360-day deposit rate 6% 4% Assume the forward rate of the Swiss franc is $.50 and the spot rate of the Swiss franc is $.48. If Parker Co. uses a money market hedge, it will receive ____ in 360 days.
a. $101,904
b. $101,923
c. $98,769
d. $96,914
e. $92,307
Note– remember from class how we hedge receivables (that is borrow in the country where the receivables will be received)
Answer:
d. $96,914
Explanation:
Parker Co. can execute money market hedge in following steps:
(1) Parker Co. pledges Receivable of SF200,000 to borrow SF190,476 with rate 5% in Switzerland; SF190,476 = SF200,000/ (1+5%)
so it has to pay interest expense of SF9,524 in 360 days. The receivable of SF200,000 is enough for both principal and interest in 360 days.
(2) Then it sells SF190,476 at spot rate $0.48 to get $91,428
(3) Then it deposits $91,428 in US with rate 6% to get back $96,914 in 360 days ; $96,914 = $91,428 * (1+6%)
Task-oriented leaders: Group of answer choices
A. establish a personal relationship with employees.
B. do personal favors for employees.
C. develop mutual trust and respect for subordinates.
D. listen to employees' suggestions.
E. establish challenging goals.
Answer:
Letter E is correct. Estabilish Challenging goals.
Explanation:
Task-oriented leadership is leadership whose primary focus is to coordinate task performance, regardless of subordinates' abilities and possibilities.
It is a model of autocratic leadership related to Classical Management Theory, where work is mechanized and there is no room for focus on the individual, their motivations and creativity, the focus is only on compliance with the rules and the execution of the imposed tasks.
Ketchen, Inc. provides the following information for 2018: Net income $290,000 Market price per share of common stock $70 per share Dividends paid $190,000 Common stock outstanding at Jan. 1, 2018 150,000 shares Common stock outstanding at Dec. 31, 2018 240,000 shares The company has no preferred stock outstanding. Calculate the price/earnings ratio of common stock.
Answer:
Earnings per share = Net income/No of ordinary shares outstanding at the end of the year
Earnings per share = $290,000/240,000 shares
Earnings per share = $1.21
Therefore, Price-earnings ratio = Market price per share/Earnings per share
Price-earnings ratio = $70/1.21
Price-earnings ratio = 57.85
Explanation: First and foremost, there is need to calculate earnings per share by considering the net income and then divide it by the number of common stocks outstanding at the end of the year. Price-earnings ratio is obtained by dividing the market price per share by earnings per share.
Forrest Company manufactures phone chargers and has a JIT policy that ending inventory must equal 10% of the next month’s sales. It estimates that October’s actual ending inventory will consist of 40,000 units. November and December sales are estimated to be 400,000 and 350,000 units, respectively. Compute the number of units to be produced that would appear on the company’s production budget for the month of November.
To calculate the November production for Forrest Company, add the estimated November sales and the requisite ending inventory for that month, and subtract the actual ending inventory for October. The result is 395,000 units.
Explanation:To calculate the number of units to be produced for Forrest Company's November production budget, we first need to establish the estimated ending inventory for November. The Just-in-Time (JIT) policy dictates that ending inventory must equal 10% of the next month’s sales. Therefore, since December sales are projected to be 350,000 units, November's ending inventory should be 10% of this, which equates to 35,000 units.
Next, remember that the production needs to cover not just the sales for the month, but also the estimated ending inventory. Therefore, the total number of units required in November is the sum of November sales and November ending inventory, minus October's actual ending inventory. So, that's 400,000 units (November sales) + 35,000 units (November ending inventory) - 40,000 units (October ending inventory) = 395,000 units. Hence, Forrest Company needs to produce 395,000 units for the month of November.
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