Answer:
See explanation section.
Explanation:
P2 Zisk Co.
Budgeted cash payments
For the 2nd quarter
April May June
Accounts payable $22,000
70% in the month of purchase $56,000 $77,000 $84,000
30% in the month after purchase $24,000 $33,000
Budgeted cash payments $78,000 $101,000 $117,000
Total budgeted cash for the 2nd quarter = $296,000.
30% in the month after purchase means 30% amount will be given in the following month.
Final answer:
The student's question involves creating a schedule of budgeted cash payments for a company based on monthly purchases and specified payment terms. The company pays 70% of purchases in the same month and 30% in the following month, with an accounts payable balance carried from March.
Explanation:
The student's question involves preparing a schedule of budgeted cash payments for Zisk Co., which has planned purchases for the months of April, May, and June, with specific payment terms: 70% paid in the month of purchase and 30% paid in the following month. To begin with, we need to consider the existing accounts payable balance from March 31, which amounts to $22,000.
Here's how you can calculate the cash payments for each month:
April: Payments for April purchases (70% of $80,000) plus the carryover balance from March (30% of $22,000).
May: Payments for May purchases (70% of $110,000) plus the remaining amount from April's purchases (30% of $80,000).
June: Payments for June purchases (70% of $120,000) plus the remaining balance from May (30% of $110,000).
Using this approach, you can detail the cash outflows for Zisk Co. and accurately prepare the cash budget.
Lopez Corporation incurred the following costs while manufacturing its product Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers 119,500 Sales commissions Factory supplies used $123,700 Advertising expense $48,000 17,800 28,200 40,600 57,600 62,600 Property taxes on plant 7,700 Delivery expense 26,200 Salaries paid to sales clerks Work in process inventory was $14,600 at January 1 and $17,500 at December 31. Finished goods inventory was $62,700 at January 1 and $50,000 at December 31. Compute cost of goods manufactured. Cost of goods manufactured s Compute cost of goods sold
Answer:
See attached file
Explanation:
AFW Industries has 214 million shares outstanding and expects earnings at the end of this year of $ 723 million. AFW plans to pay out 59 % of its earnings in total, paying 40 % as a dividend and using 19 % to repurchase shares. If AFW's earnings are expected to grow by 8.4 % per year and these payout rates remain constant, determine AFW's share price assuming an equity cost of capital of 11.2 %
Answer:
32
Explanation:
32323
Final answer:
AFW Industries' share price can be calculated by finding the present value of future dividends and share repurchases using the equity cost of capital. After calculating the present value of dividends and share repurchases, we can add them together to find the total present value. Dividing the total present value by the number of shares outstanding gives us the share price. The number of shares outstanding: $33.64 per share.
Explanation:
To determine AFW Industries' share price, we need to calculate the present value of future dividends and share repurchases. First, we need to find the total dividends and share repurchases based on the payout rates. The dividend payout would be 723 million * 0.40 = 289.2 million, and the share repurchase would be 723 million * 0.19 = 137.37 million. The total payout would be 289.2 million + 137.37 million = 426.57 million.
To calculate the present value, we need to discount the future payouts using the equity cost of capital. The equity cost of capital is 11.2 percent, so we can use the formula PV = C / (1 + r)^n, where C is the cash flow, r is the discount rate, and n is the number of periods (years). Since AFW expects earnings to grow by 8.4% per year, we can assume a perpetual growth model.
The present value of dividends can be calculated as 289.2 million / (0.112 - 0.084) = 4.9 billion. The present value of share repurchases can be calculated as 137.37 million / (0.112 - 0.084) = 2.3 billion. Adding these present values together gives us a total present value of 4.9 billion + 2.3 billion = 7.2 billion. Finally, to find the share price, we divide the total present value by the number of shares outstanding: 7.2 billion / 214 million = $33.64 per share.
Company X is expected to earn $2.25 per share this quarter. Last quarter they earned $2.50 per share, and a year ago their earnings were $3.00 per share. Before the market opened this morning, they announced earnings of $2.30 per share. If there is no other news about this stock, and leaving out what the market as a whole is expected to do today, what should happen to the price of the stock when the market opens.
Answer:
Price of the stock will go up
Explanation:
In order to predict future movements of stock prices, analysts use reported quarterly earnings, usually in the forms of earnings per share. However, analyst's estimation is only opinion, that may differ from what would really happen. If company's earnings exceed their own estimations, as in this case, we could expect stock value to rise. However, in the case where actual earnings are a bit lower than projected ones, the price of the stock will drop.
Budgetary Performance for Cost Center Suwanee Company's costs were under budget by $59,700. The company is divided into North and South regions. The North Region’s costs were over budget by $4,200. Determine the amount that the South Region’s costs were over or under budget.
Answer
The South's budget was under budgeted by $63,900
Explanation
The sum of the north and south division equals that of the entire Company.
Company's budget = North + South budget
Let us represent the value of the south budget by y
(59,700) = 4,200 + y
y = -59,700 - 4200
y = 63,900
The South's budget was under budgeted by $63,900
Exercise 15-2 On January 1, 2017, Klosterman Company issued $420,000, 12%, 10-year bonds at face value. Interest is payable annually on January 1. Prepare the journal entry to record the issuance of the bonds.
Answer:
The journal entry to record the bond issuance is shown below:
Explanation:
The journal entry to record the bond issuance is as:
Cash A/c.............................................Dr $420,000
Bonds Payable A/c......................Cr $420,000
Being the bonds issued
As the bonds are issued by the company so cash is coming into the business, which is an asset and any increase in asset is debited. Therefore, the cash account is debited. And cash is received against the bonds payable, so the account of bonds payable is credited.
A process currently services an average of 43 customers per day. Observations in recent weeks show that its utilization is about 90 percent, allowing for just a 10 percent capacity cushion. If demand is expected to be 70 percent of the current level in five years and management wants to have a capacity cushion of just 8 percent, what capacity requirement should be planned?
Answer:
The correct answer is 31 customers per day.
Explanation:
Consider the current capacity requirement as = x
Management wants to have a capacity cushion = 8%.
So the utilization is required = 100% - 8% = 92%
A process of currently services an average of 43 customers per day and utilization is 90%.
Expected Demand=70%= 70 ÷ 100 = 0.70
Current utilization = 90% = 0.90
Let Capacity requirement = X
Capacity requirement ÷ required utilization = Expected Demand rate × current service rate ÷ current utilization rate
X ÷ 0.92 = 0.70 × 43 ÷ 0.90
X = 0.70 × 43 ÷ 0.90 × 0.92
= 30.76 or 31
Needed capacity requirement is 31 customer per day.
The following information pertains to Torque Corp.'s outstanding stock for 2021: Common stock, $1 par value Shares outstanding, 1/1/2021 60,000 2-for-1 stock split, 4/1/2021 Shares issued, 7/1/2021 30,000 Preferred stock, $10 par value, 6% cumulative Shares outstanding, 1/1/2021 12,000How many shares should Torque use to calculate 2021 basic earnings per share?
Answer:
135,000 shares
Explanation:
The stock split is the re-denomination of the shares where the number of shares increases without a corresponding increase in shareholders' equity.For instance assigning two shares for each share had earlier with two new shares priced at the price of previous one share,however in calculating the number of shares applicable to basic earnings stock split is treated retrospectively,as if it has always been part of the company's shares
Opening number of shares 60,000
add increase due to stock split(2*60,000)-60,000 60,000
new shares half-way through the year 30,000*6/12 15,000
Weighted average number of shares 135,000
Answer:
135,000 shares
Explanation:
You buy a share of stock, write a 1-year call option with X = $55, and buy a 1-year put option with X = $55. Your net outlay to establish the entire portfolio is $54. The stock pays no dividends. a. What is the payoff of your portfolio?
Final answer:
The payoff of a hedged portfolio created by purchasing stock, writing a call option, and buying a put option with the same exercise price and a net outlay will depend on the stock price at option expiration. The maximum loss is limited to the net outlay, and the potential gain occurs if the stock price is below the exercise price, limited to $1 per share.
Explanation:
The scenario involves building a hedged portfolio by purchasing a share of stock, writing a 1-year call option, and buying a 1-year put option, all with the same exercise price of $55, and a net outlay of $54. The payoff of this portfolio will vary depending on the stock's price at the expiration of the options.
If the stock's price is above $55, the call option will be exercised, and you will have to sell the stock at $55, leading to a capital gain equivalent to $55 minus the net outlay. However, since you are also holding the stock, any amount above $55 at which you could sell the stock is forfeited due to the call option.If the stock's price is below $55, the put option can be exercised, allowing you to sell the stock for $55 regardless of the lower market price. Your gain will be $55 minus the net outlay.If the stock's price is exactly $55, neither the call nor the put option will be exercised, and your position will be neutral, with the stock's value equal to the exercise price.Thus, the payoff of this portfolio will be a maximum loss of the net outlay ($54) if the stock price is at or above the exercise price, and a potential gain if the stock price falls below the exercise price, limited to the difference between $55 and the $54 outlay.
Copying an article from a computer science journal that sells subscriptions and then distributing it to 25 employees at your company: a. would be fair use. b. would be copyright infringement. c. would not be copyright infringement unless you charged the employees for the copies. d. none of the above
Answer:
The correct answer is b. would be copyright infringement.
Explanation:
Any copy of information for publication without the author's consent means an infringement of copyright, since the information is presented as if it were the company's own when it is not. In order for this situation not to occur, the company is required to notify the author of the intention to communicate the information and receive authorization to carry it out.
Answer: b. would be copyright infringement.
Explanation:
Copyright infringement is the use of works protected by copyright law without permission for a usage where such permission is required, thereby infringing certain exclusive rights granted to the copyright holder, such as the right to reproduce, distribute, display or perform the protected work, or to make derivative works.
Copyright infringement is using someone else's work without getting that person's permission. The owner of a copyright gets to decide who can legally make copies of that work. It is illegal to copy large sections of someone else's copyrighted work without permission, even if you give the original author credit.
Other examples of copyright infringement include:
1. Downloading movies and music without proper payment for use.
2. Recording movies in a theater.
3.Using others' photographs for a blog without permission.
4. Copying software code without giving proper credit.
5. Creating videos with unlicensed music clips.
A local kayak outfitter has been looking over the latest data from the Census, which reported that income in the area where the outfitter is based has increased by 20%. If the outfitter then tells you that her sales increased by 10%, what would be the income elasticity of demand and how would you interpret it
Answer:
The income elasticity of demand is 0.5
The Outfitter's products are a normal good and a necessity as the YED is positive and between 0 and 1 respectively.
Explanation:
Income elasticity of demand (YED) measures the responsiveness of demand for a product to changes in income of the people. It traces how changes in income bring about a change in demand for a product. The formula for YED is,
YED = % Change in Quantity demanded / %Change in Income
YED = 10% / 20% = 0.5
The income elasticity of demand for the outfitter is a positive 0.5 which represents that the outfitters products are a normal good as the YED is positive and an increase in income bring about an increase in demand.
Moreover, am income elasticity of demand between 0 and 1 represents goods which are considered to be a necessity and the demand for these goods rises at a lower percentage than the change in income. As, the YED for the outfitter is 0.5, it is a necessity.
Answer:
a)
Income elasticity of demand = 0.5.
b)
it implies that a change in income by a given percentage would produce a 50% change in the quantity of demand.
Explanation:
The income elasticity of demand measures the degree of responsiveness of demand for a product to a change in the consumer income.
If a change in consumer income by a given percentage produces a less than a proportionate change in quantity demand , the income elasticity of demand is inelastic . It is elastic if the reverse is the case
Income elasticity of demand =
=% change in demand/ % change in income
=10%/20%
= 0.5.
it implies that a change in income by a given percentage would produce a 50% change in the quantity of demand. For example, if income decreases by 100%, the quantity demand will decrease by just 50%
On January 1, 20X4, Polar Corp. paid $104,000 for $100,000 par value, 9% bonds of Seal Corp. Seal had issued $300,000 of the 10-year bonds on January 1, 20X2 for $360,000. The bonds pay interest semi-annually. Polar had previously purchased 80% of the common stock of Seal on January 1, 20X1, at underlying book value. Polar reported operating income (excluding income from subsidiaries) of $50,000 and Seal reported net income of $30,000 for 20X4. Both companies use straight-line amortization. What amount of interest expense and gain/loss should be included in the 20X4 consolidated income statement
Answer:
$14,000
Explanation:
Amount of interest expense = [(Bond issued by 'S' company x 9%) - Amount of
premium x (unsold bonds / Bonds issued)]
= (300,000 x 0.09) - 60000/10 x 200,000/300,000
= (27,000 - 6000) x 0.66667
= 21,000 x 0.66667
= $14,000
For the 20X4 consolidated income statement:
Interest expense should be[tex]\$15,500.[/tex]
No gain or loss related to the bonds should be recognized.
1. Calculate the amortization of the bond premium/discount:
Seal Corp.'s Bonds:
Issued amount: $360,000
Par value: [tex]\$300,000[/tex]
Premium: [tex]\$360,000 - \$300,000 = \$60,000[/tex]
Life of bonds: [tex]10[/tex] years ([tex]20[/tex] semi-annual periods)
Annual amortization of the premium:
[tex]\[ \frac{\$60,000}{20} = \$3,000 \][/tex]
Semi-annual amortization of the premium:
[tex]\[ \frac{\$3,000}{2} = \$1,500 \][/tex]
2. Determine Seal Corp.'s interest expense:
Seal Corp. pays interest semi-annually on the par value of the bonds:
[tex]\[ \$300,000 \times 9\% = \$27,000 \] (annual interest)[/tex]
[tex]\[ \text{Semi-annual interest payment} = \$27,000 / 2 = \$13,500 \][/tex]
Adjust for the amortization of the premium:
[tex]\[ \text{Annual interest expense} = \$27,000 - \$3,000 = \$24,000 \][/tex]
[tex]\[ \text{Semi-annual interest expense} = \$13,500 - \$1,500 = \$12,000 \][/tex]
Total interest expense for 20X4:
[tex]\[ 2 \times \$12,000 = \$24,000 \][/tex]
3. Calculate Polar Corp.'s interest income:
Polar purchased [tex]\$100,000[/tex] par value bonds at [tex]\$104,000[/tex], indicating a premium of [tex]\$4,000.[/tex]
Annual amortization of Polar's premium:
[tex]\[ \frac{\$4,000}{8} = \$500 \][/tex]
Semi-annual amortization of the premium:
[tex]\[ \frac{\$500}{2} = \$250 \][/tex]
Semi-annual interest income for Polar:
[tex]\[ \$4,500 - \$250 = \$4,250 \][/tex]
Total interest income for 20X4:
[tex]\[ 2 \times \$4,250 = \$8,500 \][/tex]
4. Consolidate and eliminate intercompany transactions:
When consolidating, the intercompany interest expense and income need to be eliminated:
Seal's interest expense:
[tex]\[ \$24,000 \][/tex]
Polar's interest income:
[tex]\[ \$8,500 \][/tex]
The intercompany interest expense and income should be eliminated, so:
[tex]\[ \text{Consolidated interest expense} = \$24,000 - \$8,500 = \$15,500 \][/tex]
Gain/Loss on Bonds:
There is no gain or loss to be recognized in the consolidated income statement related to the bonds, as the purchase price and carrying amount adjustments are amortized and included in the interest expense and income calculations.
A company has employed two workers A and B whose productivities are 20units and 15units respectively. The wage for A is k12 whilst B's is k8. Are these two employees optimally employed?
Answer:
No they are not optimally employed
Explanation:
When comparing two employees to see if they are optimally employed we will look at the ratio of their productivity and the ratio of their wages.
Ideally the ratio of their wages should be above the ratio of their productivity for them to be optimally employed.
Productivity ratio of A and B= 15 ÷ 20= 0.75
Wage ratio of A and B= 8 ÷ 12= 0.6666
Wage ratio is less than productivity ratio so the employees are not optimally employed.
Suppose there are 100 workers in the economy in which all workers must choose to work a risky or a safe job. Worker 1's reservation for accepting the risky job is $1; worker 2's reservation price is $2, and so on. Because of technological reasons, there are only 10 risky jobs.
A. What is the equilibrium wage differential between safe and risky jobs? Which workers will be employed at the risky firm?
B. Suppose now that an advertising campaign, paid for by the employers who offer risky jobs, stresses the excitement associated with "the thrill of injury," and this campaign changes the attitudes of the work force toward being employed in a risky job. Worker 1 has a reservation price of -$10 (that is, she is willing to pay $10 for the right to work in a risky job); worker 2's reservation price is -$9, and so on. There are still only 10 risky jobs. What is the new equilibrium wage differential?
C. Show a supply and demand for risky jobs diagram to represent the situations in question a and b.
Final answer:
The equilibrium wage differential between safe and risky jobs depends on the workers' reservation prices and the number of risky jobs available. In the first scenario, if the 10th worker's reservation price is $10, then the equilibrium wage differential would be $10. In the second scenario, if the 10th worker's reservation price is -$1, then the new equilibrium wage differential would be -$1.
Explanation:
The equilibrium wage differential between safe and risky jobs can be determined by looking at the workers' reservation prices and the number of risky jobs available. In this scenario, there are 100 workers and 10 risky jobs. The equilibrium wage differential will be determined by the reservation price of the 10th worker, as the risky jobs are filled starting from the worker with the lowest reservation price. So, if the 10th worker's reservation price is $10, then the equilibrium wage differential between safe and risky jobs would be $10.
In the second scenario, where the workers' reservation prices for risky jobs change and become negative, the equilibrium wage differential would also change. Since there are still only 10 risky jobs available, the equilibrium wage differential would be determined by the reservation price of the 10th worker who gets employed at the risky firm. If the 10th worker's reservation price is -$1, then the new equilibrium wage differential would be -$1.
Unfortunately, I'm unable to provide diagrams in this format. However, you can represent the situation using a supply and demand graph, where the demand curve represents the number of risky jobs demanded at different wage differentials, and the supply curve represents the number of workers willing to take risky jobs at different wage differentials.
Marsha’s Pet Store employs six employees. Their duties are to sell pets, replenish the stock, keep the pets’ cages clean, feed the pets, and maintain good records. Marsha pays a fixed hourly rate and a commission on sales of pets. Lately, Marsha has been finding that the records have not been well maintained and the stock has not been replenished. However, pet sales are good and the pets’ cages are clean. Based on the above facts, state whether the following statement is true or false. Marsha may consider changing the scheme to include careful performance of the other duties before any sales commission can be earned. True False
Answer: True.
Explanation:
People sometimes have a tendency of doing only what they are told to do or only what they are paid for. This is why most people who progress in a company do so on the basis of having done work that was not in their description, but would have helped the company progress.
It would appear that Marsha's 6 employees are all of the caliber of employees who just do what they are told and nothing more.
For this reason therefore, she would include a stipulation changing the scheme to include careful performance of the other duties before any sales commission can be earned. This way they'll start to do those other things since they are now paid to do so.
Sufficient Dwelling Coverage? Colton Gentry of Lancaster, California, has owned his home for ten years. When he purchased it for $178,000, Colton bought a $160,000 homeowner's insurance policy. He still owns that policy, even though the replacement cost of the home is now $300,000.a. If Colton suffered a $15,000 fire loss to the home, what percentage of the loss would be covered by his policy? Round your answer to one decimal place 89.9 What dollar amount of the loss would be covered by his policy? Enter the amount of the loss as a positive number. Round your answer to the nearest dollar. $13485 b. How much insurance on the home should Colton carry now to be fully reimbursed for a fire loss? Round your answer to the nearest dollar. $125000 Hide Feedback Incorrect Check My Work (No more tries available)
In the event of a $15,000 fire loss, Colton's current insurance policy would cover only 53.3% of his loss, meaning he would receive only $8,000 from the insurance company. If he wants to fully insure his home for any damages due to fires, he should carry an insurance that matches his current home replacement cost, which is $300,000.
Explanation:The subject of this problem is insurance coverage, specifically dwelling coverage for homeowners. Dwelling coverage ensures that a home gets rebuilt or repaired in case of damage resulting from factors like fire or hail.
Let's tackle the two parts of the question. a. In Colton's case, his current policy covers $160,000 while the total replacement cost of his home is now $300,000. Hence, his coverage is partial and proportional. If he suffered a $15,000 fire loss, the percentage of the loss covered by his current policy would be given by (coverage amount / total replacement cost) * loss which translates to ($160,000/$300,000) * $15,000 = $8,000. This means 53.3% of his loss (approx) would be covered and Colton would personally bear the rest.
b. If Colton wants to fully cover his home from any loss due to fire, he should carry insurance that matches his home replacement cost, i.e., $300,000. Then, the insurance would fully cover his loss and he would not bear any out of pocket expenses in events like fires.
Similar to how an insurance company collects $1,860 premium from each driver to cover the projected cost of accidents, homeowners must keep an eye on their home’s value and the corresponding insurance coverage to ensure adequate protection at all times.
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Ruiz Co. provides the following sales forecast for the next four months. April May June July Sales (units) 500 580 540 620 The company wants to end each month with ending finished goods inventory equal to 25% of next month’s forecasted sales. Finished goods inventory on April 1 is 190 units. Prepare a production budget for the months of April, May, and June.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales:
April= 500
May= 580
June= 540
July= 620
Finished goods inventory on April 1 is 190 units
Desired ending inventory= 25% next month sales.
To calculate the production for each month, we need to use the following formula:
Production= sales + desired ending inventory - beginning inventory
April:
Sales= 500
Desire ending inventory= (580*0.25)= 145
Beginning inventory= (190)
Total production= 455 units
May:
Sales= 580
Desire ending inventory= (540*0.25)= 135
Beginning inventory= (145)
Total production= 570 units
June:
Sales= 540
Desire ending inventory= (620*0.25)= 155
Beginning inventory= (135)
Total production= 560 units
The production budget for Ruiz Co. for April, May, and June involves calculating the required monthly production to meet sales forecasts while also maintaining ending inventories at 25% of the next month’s forecasted sales. The calculations lead to required production of 455 units in April, 570 units in May, and 560 units in June.
The question requires calculating a production budget for Ruiz Co. for the months of April, May, and June, considering its sales forecast and the desire to maintain ending finished goods inventory at 25% of the next month’s forecasted sales.
April Production: We start with April's forecast of 500 units and aim for an ending inventory of 25% of May's forecast (580 units), which is 145 units. Considering the starting inventory of 190 units, the production needed is 500 - 190 + 145 = 455 units.May Production: May forecasts 580 units and desires an ending inventory of 25% of June's forecast (540 units), equating to 135 units. The required production is 580 - 145 + 135 = 570 units, accounting for April's ending inventory as the starting point for May.June Production: June expects 540 units with an ending inventory of 25% of July's forecast (620 units), which is 155 units. Thus, the production needed is 540 - 135 + 155 = 560 units.By ensuring inventories match 25% of the subsequent month's sales forecasts, Ruiz Co. effectively plans its production to meet both current sales and future inventory requirements.
The Softbank telecommunications and internet corporation prides itself on being a forward-thinking, innovative company. To market its various products, Softbank coordinates many marketing tools such as sales promotions, digital marketing, advertising, public relations campaigns, and even some guerrilla marketing with its corporate and marketing strategic message. What impact does a coordinated message have on Softbank’s target markets?
Answer:
Coordinated messages positively changes a customer perception towards a product this is because information about the product is passed through different mediums.
Explanation:
An effective advertising campaign involves the utilization of coordinated messages inorder to advertise a particular product.
An advertising campaign helps to create awareness about the product and achieve a high demand for the product in the market.
The message being passed to the customers must be in a clear and orderly manner so that they can understand better the different features of the product.
Softbank telecommunication and internet corporation market their products through different channels such as sales promotions, digital marketing, advertising, public relations campaigns. This is done inorder to pass a coordinated message about the product to a large number of audience.
Ms. Aura is a psychic. The demand for her services is given by Q= 2,000 –10P, where Qis the number of one-hour sessions per year and Pis the price of each session. Her marginal revenue is MR= 200 –0.2Q. Ms. Aura’s operation has no fixed costs, but she incurs a cost of $150 per session (going to the client’s house).a.What is Ms. Aura’s yearly profit?Find the number of sessions that Ms. Aura will provide by equating the marginal revenue to the marginal cost of a session: setting MR = MC yields 200 –0.2Q = 150 which solves as Q = 250. The price that would generate demand for 250 sessions is $175 as 2,000 –10(175) = 250. Thus, her annual profit is 175(250) –150(250) = $6,250 per year.
Midland Company buys tiles and prints different designs on them for souvenir and gift stores It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tries needed for three months' sales The tiles cost $3 each and must be paid for in cash. The company has 28,000 tiles in stock. Sales estimates, based on contracts received, are as follows for the next six months: Estimate purchases (in units) and cash required to make purchases in January.
Answer:
The question is not complete,find below complete question:
Midland Company buys tiles and prints different designs on them for souvenir and gift stores. It buys the tiles from a small company in Europe, so at all times it keeps on hand a stock equal to the tiles needed for three months’ sales. The tiles cost $3 each and must be paid for in cash. The company has 28,000 tiles in stock. Sales estimates, based on contracts received, are as follows for the next six months:
January 11,900
February 18,700
March 13,600
April 14,700
May 10,300
June 7,100
Required: a. & b. Estimate purchases (in units) and cash required to make purchases in January, February, and March.
Purchases in units is 30,900 units
Purchases amount is $92,700
Explanation:
The purchases in January is the sales estimate plus the desired ending inventory minus the opening stock of inventory.
The desired closing inventory in the sense implies three months future sales units i.e February,March and April sales units.
Sales in January 11,900
desired closing inventory(18,700+13,600+14,700)47,000
Total required units 58,900
Opening stock of inventory 28,000
Total purchases 30,900
Total purchases in dollar terms=purchases units*sales price per unit
sales price per unit is $3
total purchases in dollar terms=$3*30,900=$92,700
Snoke Inc's current price is $100 and the price is expected to rise to $110 in one year. The dividends are paid annually and the next dividend will be $6.00 per share. What is the expected stock return?
Answer:
Expected stock Return = 16%
Explanation:
The return of a stock is calculated by subtracting ending stock price to ending stock price and add adding and income distributions made during the period and divide by the stock price at beginning
Current stock price = $100
Expected stock price = $110
Dividends = $6
So in Snoke Inc's the only income distributions are dividends
Return = Ending stock price - Current stock price + dividends/Current stock price
=110-100+6/100
=0.16/16%
You are the operations manager of a firm that uses the continuous-review inventory control system. Suppose the firm operates 52 weeks a year, 365 days, and has the following characteristics for its primary item:Demand = 450 units/per weekOrdering cost = $35/orderEOQ = 468 units What is the unit holding cost per year?A. Not greater than $3B. Greater than $3 but not greater than $6C. Greater than $6 but not greater than $9
Answer:
C. Greater than $6 but not greater than $9
Explanation:
The computation of the unit holding cost per year is shown below:
As we know that
[tex]Economic\ order\ quantity = \sqrt{\frac{2\times \text{Annual demand}\times \text{Ordering cost}}{\text{Carrying cost}}}[/tex]
where,
Annual demand is 450 × 52 weeks = 23,400 units
Ordering cost is $35 per order
Economic order quantity is 468 units
Now placing these values to the above formula
[tex]468\ units = \sqrt{\frac{2\times \text{23,400}\times \text{\$35}}{\text{Carrying\ cost}}}[/tex]
Now to find out the carrying cost, the calculation is given below:
= (2 × 450 units × $35) ÷ 468^2
= $7.48 per unit
The carrying cost is also known as holding cost
Suppose that Verizon Wireless has hired you as a consultant to determine what price it should set for calling services. Suppose that an individual's inverse demand for wireless services in the greater Boston area is estimated to be P = 100 − 25Q and the marginal cost of providing wireless services to the area is $1 per minute. What is the optimal two-part price that you would suggest to Verizon?
Final answer:
The optimal two-part price that I would suggest to Verizon is $400 per minute for calling services.
Explanation:
In order to determine the optimal two-part price that Verizon should set for calling services, we need to consider the inverse demand function and the marginal cost. The inverse demand function is given by P = 100 - 25Q, where P is the price and Q is the quantity demanded. The marginal cost of providing wireless services is $1 per minute.
To find the optimal two-part price, we need to find the quantity at which marginal revenue equals marginal cost. Marginal revenue is the derivative of the inverse demand function. So, taking the derivative of P = 100 - 25Q, we get dP/dQ = -25.
Setting dP/dQ equal to the marginal cost of $1, we have -25 = 1. Solving for Q, we find Q = 24. Substituting this value of Q into the inverse demand function, we can find the price P = 100 - 25(24) = $400.
Therefore, the optimal two-part price that I would suggest to Verizon is $400 per minute for calling services.
Bonita uses the periodic inventory system. For the current month, the beginning inventory consisted of 7300 units that cost $12.00 each. During the month, the company made two purchases: 3100 units at $13.00 each and 12000 units at $13.50 each. Bonita also sold 13100 units during the month. Using the average cost method, what is the amount of cost of goods sold for the month
Answer:
$169,514
Explanation:
[(7,300 × $12) + (3,100 × $13) + (12,000 × $13.50] ÷(7,300 + 3,100 + 12,000)
=87,600+40,300+162,000÷22,400
=289,900÷22,400
=$12.94
Hence;
$12.94 × 13,100 = $169,514
Therefore using the average cost method, the amount of cost of goods sold for the month will be 169,514
At Lone Star Construction, accident rates have been high over the last six months, so the owners are providing a training program to employees. The objective of the accident prevention program is to reduce the number and severity of accidents by 15 percent. The firm will compare accident rates before and after training in order to measure the success of the program. This is most likely an example of what level of T&D evaluation?
Answer:
According to Kirkpatrick's model of T&D Evaluation, the level which involves comparing before end after effect is Level 3
Explanation:
Training and development involves improving the effectiveness of organizations and the individuals and teams within them.
At Lone Star Construction, the type of training program proposed is an accident prevention program is to reduce the number and severity of accidents by 15 percent.
The level of T&D evaluation which involves comparing accident rates before and after training in order to measure success according to Kirk Patrick's model is Level 3.
Level 3 evaluation involves both pre- and post-event measurement and the degree to which participants' behaviors change as a result of the training and evaluates whether the knowledge and skills from the training are applied on the job.
The level of T&D evaluation depicted in Lone Star Construction's training program is the results-based criteria level, focusing on reducing accidents by 15 percent in measurable outcomes. Training effectiveness is gauged through practical comparisons of accident rates before and after the program, aligning with performance-oriented standards.
Explanation:The training program introduced at Lone Star Construction to reduce the number and severity of accidents by 15 percent can be evaluated at multiple levels. However, the most fitting level of Training and Development (T&D) evaluation for this scenario is results-based criteria. This particular level of evaluation focuses on the measurable outcomes such as reductions in accident rates, which is exactly what the firm intends to do in their comparison before and after the training. Studies, like those by Arthur, Bennett, Edens, and Bell (2003), have shown that training can be effective when evaluated on factors including behavioral changes and results-based criteria like productivity or safety improvements.
By setting a clear objective of reducing accidents by a quantifiable percentage, Lone Star Construction takes a performance-oriented approach. This approach allows the firm to measure the success of the training program in practical and definitive terms, which is in line with economic principles favoring standards that grant flexibility over strict command-and-control regulations. The fact that the firm will compare accident rates before and after the program is an indicative measure of the effectiveness of the training received by the employees.
The first day of work for Prevosti Farms and Sugarhouse for all employees is February 4, 2019. February 8 is the end of the first pay period and includes work completed during the week of February 4–8. Compute the employee gross pay using 35 hours as the standard workweek for all employees except Mary Shangraw, who works 20 hours per week and receives overtime for any time worked past that point. The other hourly employees receive overtime pay when they work more than 35 hours in one week. Joel Schwartz has made $5,000 in case sales at a 3 percent commission rate during the 2/9 pay period. Joel Schwartz's sales are subject to commissions for the 2/22 pay period of $7,500. Remember that the employees are paid biweekly. Note that the first pay period comprises only one week of work, but the pay frequency for federal income tax purposes is biweekly.
To compute employee gross pay for Prevosti Farms and Sugarhouse, consider the standard workweek for all employees except Mary, who works 20 hours per week and receives overtime for any additional hours. Calculate regular pay for hourly employees based on standard and overtime hours. Compute Joel Schwartz's commission pay separately from employee gross pay.
Explanation:To compute employee gross pay for Prevosti Farms and Sugarhouse, we need to consider the standard workweek for all employees, except Mary Shangraw. The standard workweek is 35 hours, and any hours worked beyond that are considered overtime. For Mary Shangraw, who works 20 hours per week, any time worked past 20 hours is considered overtime. The first pay period starts on February 4, 2019, and ends on February 8, 2019. Joel Schwartz's sales commissions are calculated separately from the employee gross pay.
Let's start by calculating the regular pay for the hourly employees (excluding Mary). The regular pay is calculated by multiplying the number of regular hours worked (up to 35) by the hourly rate. The overtime pay is calculated by multiplying the number of overtime hours (if any) by 1.5 times the hourly rate. To calculate Mary's pay, we will multiply her regular hours worked (up to 20) by the hourly rate and any overtime hours by 1.5 times the hourly rate. To calculate Joel Schwartz's pay, we will multiply his total sales for the pay period by the commission rate.
Once we have calculated the regular pay, overtime pay (if applicable), and commission pay for each employee, we can sum them to get the total employee gross pay for the pay period.
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What is a consequence of ending a performance appraisal interview on a negative note? Both the supervisor and employee may develop deflated egos. The supervisor who conducted the interview may develop a deflated ego. The employee whose performance was appraised may develop a deflated ego. None of these
Answer:
The correct answer is letter "C": The employee whose performance was appraised may develop a deflated ego.
Explanation:
Appraisal interviews are conducted to discuss the performance of employees. The company sets a standard of how the duties of workers must be developed and employees are evaluated based on those guidelines. The closer the employee method or woking is to the company's standards, the possibilities of scoring higher increase.
However, not all employees end up with a good score after appraisals. Those who are provided with negative notes typically develop a deflated ego since their performance was qualified as lacking. Managers must follow up on these workers to make sure they are not discouraged and that they accomplish the objectives their roles demand.
Jorge is willing and able to pay up to $25 for an authentic autograph of Michael Jordan that he buys for $20. Melissa requires a minimum price of $16 before she will sell the autograph to Jorge. In this situation, the consumer's surplus is _____ and the producer's surplus is ____.
Answer:
Consumer's surplus is $5 and the producer's surplus is $4.
Explanation:
1) Consumer surplus is the extra amount a consumer is willing to pay for a product above the price they actually do pay.
Consumer surplus = maximum price willing to pay – actual price
Maximum price willing to pay = $25
Actual price = $20
Consumer surplus = $25 – $20
Consumer surplus = $5
Therefore, the customer saved $5 as a consumer surplus which he/she can spend on some other goods or services.
2) Producer surplus is the difference between what price producers are willing and able to sell a good for and what price they actually receive from consumers (market price).
Producer surplus = Actual price – minimum price willing to accept
Actual price = $20
Minimum price willing to accept = $16
Producer surplus = $20 – $16
Producer surplus = $4.
At least six months before the Summer Olympic Games in Atlanta, Georgia, Stafford Fontenot and four others agreed to sell Cajun food at the games and began making preparations. On May 19, the group (calling themselves "Prairie Cajun Seafood Catering of Louisiana") applied for a business license from the county health department. Later, Ted Norris sold a mobile kitchen to them for $40,000. They gave Norris an $8,000 check drawn on the "Prairie Cajun Seafood Catering of Louisiana" account and two promissory notes, one for $12,000 and the other for $20,000. The notes, which were dated June 12, listed only Fontenot "d/b/a Prairie Cajun Seafood" as the maker (d/b/a is an abbreviation for "doing business as"). On July 31, Fontenot and his friends signed a partnership agreement, which listed specific percentages of profits and losses. They drove the mobile kitchen to Atlanta, but business was "disastrous." When the notes were not paid, Norris filed a suit in a Louisiana state court against Fontenot, seeking payment. (See Formation and Operation.) a. The first group will discuss the elements of a partnership and determine whether a partnership exists among Fontenot and the others. b. The second group will determine who can be held liable on the notes and why.
Answer:
See the explanation for the answer.
Explanation:
To be considered a partnership, a business relationship must meet the following criteria;
1, the parties must have consented to form a partnership and to share in business's profits and losses.
2. The parties must jointly own the ventures
3. The parties must have equal right to manage the operation.
a)
Here, several months before the Olympics, F and his friends agree to sell Cajun food in Atlanta and applied for a license as a group. Although, a written partnership agreement was not sign until a couple of months later. F and his friends had a oral agreement to form an association and to work together towards a common goal until they bought the mobile kitchen. The written agreement contains specific divisions of profits and losses. Thus, a partnership existed between F and his friends.
(b) In signing the notes to buy the kitchen, N received an $8,000 check drawn on "C food" account and two promissory notes as well as P as the maker. which is partnership firm of F and his friends. F was acting on behave of this partnership in this deal. Therefore, partnership is liable on the notes.
Standahl Air uses two measures of activity, flights and passengers, in the cost formulas in its budgets and performance reports. The cost formula for plane operating costs is $41,490 per month plus $2,839 per flight plus $23 per passenger. The company expected its activity in August to be 101 flights and 313 passengers, but the actual activity was 104 flights and 316 passengers. The actual cost for plane operating costs in August was $265,190. The plane operating costs in the planning budget for August would be closest to: Multiple Choice $265,190 $335,428 $344,014 $324,110
Answer:
$335,428
Explanation:
The computation of the plane operating cost is shown below:
Plane Operating Cost = Fixed cost + (Variable cost per unit × quantity) + (Variable cost per unit × quantity)
= $41,490 + ( $2,839 × 101 flights) + ($23 × 313 passengers)
= $41,490 + $286,739 + $7,199
= $335,428
We only considered the planned activity as we have to compute the plane operating cost for the planning budget
_________ focus on employee behaviors, either by comparing the performance of employees to that of other employees or by evaluating each employee in terms of performance standards without reference to others.
Answer:
Behavior-oriented rating methods
Explanation:
Performance appraisal method can be defined as the assessment of an employee level of conduct on the job. It also helps to evaluate employees skills and weaknesses.
Behavior oriented rating methods is a form of appraisal method in which the level of conduct is rated by comparison of the employee performance to that of other employees.
The employee performance appraisal process is essential for organizations to improve the rate of employee productivity which leads to the growth of the organization.