Answer: MULTINATIONAL COMPANIES
Explanation: Companies operating their business in two or more countries other than the country in which they are incorporated are called multinational companies. In this question green cleaners is based in america but have operations in Poland and Spain also , thus, it would be a multinational enterprise.
The U.S. Supreme Court ruled that cities could have school voucher programs that give money directly to parents, who could then choose among competing schools, public or private. The ideas was to create competition among schools. Like businesses, schools were expected to improve their services (e.g., how effectively they teach) to win students from competitors. The result would be improvement in all schools, private and public, to benefit many students. Do you believe that such economic principles apply in both private and public organizations?
Answer:
No, I don't beliave
Explanation:
The classic economic model is based on the price competition system. This is a beneficial system for consumers who will pay a lower price as a result of competition. This works well in some sectors, but not all, such as schools.
In my view, the school cannot be used as a commodity. Schools have different structures for the same purpose, so some differ in their educational approach. If a competitive system is in place, it will pressure schools to streamline education to lower costs and maximize school profit - just as companies do. It turns out that a school does not have the same purpose as companies. The company aims for profit while the school aims to educate.
Final answer:
School choice programs promote competition among schools, encouraging improvement in services to attract students, aligning with economic principles applicable to both private and public organizations.
Explanation:
School voucher programs were designed to create competition among schools, public and private, with the belief that schools would improve their services to attract students. This concept is rooted in economic principles applicable to both private and public organizations.
The idea behind vouchers is that increased competition among schools leads to improved educational outcomes. This competition encourages schools to strive for excellence in order to attract students, similar to how businesses operate in a competitive market.
Although the impact of school choice programs on academic achievement and public school funding is still being studied, the competitive nature of these programs mirrors the economic principles of competition and improvement seen in private and public organizations.
Which of the following is an advantage of flexible manufacturing technologies? They have reduced the importance of technological innovation in industries. They have made shorter production runs economical. They have increased the importance of production economies of scale. They eliminate the need for differentiation from competitors.
Answer:
They have increased the importance of production economies of scale.
Explanation:
Flexible production allows the manufacture of different types of products in the same industrial production line. This makes companies lower costs by avoiding tool change, time savings, and industry structure.
This type of economy fits into the description of economies of scale. Economies of scale are those where the increase in production results in a decrease in the average cost of the product. Increasing production - by including more products on the production line - without a proportional increase in the factory's installed capacity leads to a reduction in the average cost of production, ie it is an economy of scale.
Suppose Kim is willing to pay $5 for her first ice cream sundae, $4 for a second ice cream sundae, and $2 for a third ice cream sundae. If Kim is able to buy all three ice cream sundaes for $2 a piece, she has realized a consumer surplus of:
Answer:
5
Explanation:
5?? okay I'm not sure here but if shes getting all 3 for 2 dollars a piece then she only spent $6 dollars. 5+4+2 is 11. 11-6 is 5
Final answer:
Kim's total consumer surplus for purchasing three ice cream sundaes is $5, calculated by summing up the savings on each sundae compared to what she was initially willing to pay.
Explanation:
If Kim is willing to pay $5 for her first ice cream sundae, $4 for a second, and $2 for a third, and she buys all three at $2 each, her consumer surplus is the total amount she saved compared to what she was willing to pay. For the first sundae, she saves $3 ($5 - $2), for the second she saves $2 ($4 - $2), and for the third, she saves nothing ($2 - $2) since it's the same as her willingness to pay. Therefore, Kim's total consumer surplus is $5 ($3 for the first sundae + $2 for the second).
A quality control inspector has drawn a sample of 18 light bulbs from a recent production lot. If the number of defective bulbs is 2 or more, the lot fails inspection. Suppose 30% of the bulbs in the lot are defective. What is the probability that the lot will fail inspection? Round your answer to four decimal places.
Answer: 0.9858
Explanation:
Binomial distribution formula
[tex]P(X=x)=^nC_x\ p^x\ (1-p)^{n-x}[/tex], where P(x) is the probability of getting success in x trials , n is total number of trials and p is the probability of getting success in each trial.
Given : The probability that bulbs in the lot is defective = 0.30
Sample size = 18
If the number of defective bulbs is 2 or more, the lot fails inspection.
Then , the probability that the lot will fail inspection is given by :-
[tex]P(X\geq2)=1-(P(X<2))\\\\=1-(P(0)+P(1))\\\\=1-(^{18}C_0\ (0.3)^0 (1-0.3)^{18}+^{18}C_1\ (0.3)^1 (1-0.3)^{17})\\\\=1-((0.3)^0 (0.7)^{18}+18(0.3)^1 (0.7)^{17})\approx0.9858[/tex]
Hence, the probability that the lot will fail inspection =0.9858
Answer:
There is a 98.58% probability that the lot will fail inspection.
Explanation:
For each light bulb in the production lot, there are two possible outcomes. Either they are defective, or they are not. This means that we can solve this problem using concepts of the binomial probability distribution.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]
In which [tex]C_{n,x}[/tex] is the number of different combinatios of x objects from a set of n elements, given by the following formula.
[tex]C_{n,x} = \frac{n!}{x!(n-x)!}[/tex]
And p is the probability of X happening.
In this problem we have that:
There are 18 light bulbs, so [tex]n = 18[/tex].
30% of the bulbs in the lot are defective. This means that [tex]p = 0.3[/tex].
If the number of defective bulbs is 2 or more, the lot fails inspection. Suppose 30% of the bulbs in the lot are defective. What is the probability that the lot will fail inspection?
This is [tex]P(X \geq 2)[/tex].
Either there are 2 or more defective bulbs, or there are less than two. The sum of the probabilities of these events is decimal 1. So:
[tex]P(X < 2) + P(X \geq 2) = 1[/tex]
[tex]P(X \geq 2) = 1 - P(X < 2)[/tex]
In which
[tex]P(X < 2) = P(X = 0) + P(X = 1)[/tex]
So
[tex]P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}[/tex]
[tex]P(X = 0) = C_{18,0}.(0.30)^{0}.(0.70)^{18} = 0.0016[/tex]
[tex]P(X = 1) = C_{18,1}.(0.30)^{1}.(0.70)^{1t} = 0.0126[/tex]
[tex]P(X < 2) = P(X = 0) + P(X = 1) = 0.0016 + 0.0126 = 0.0142[/tex]
Finally
[tex]P(X \geq 2) = 1 - P(X < 2) = 1 - 0.0142 = 0.9858[/tex]
There is a 98.58% probability that the lot will fail inspection.
Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows.
Sales Mix
Unit Contribution
Margin
Lawnmowers 20 % $30
Weed-trimmers 50 % $20
Chainsaws 30 % $40
Yard Tools has fixed costs of $4,200,000.
Compute the number of units of each product that Yard Tools must sell in order to break even under this product mix.
Answer:
45,000 Chainsaws
75,000 Weed-trimmers
30,000 Lawnmowers
Explanation:
Contribution Margin Mix
We are going to multiply the contribution margin of the product, by their sales proportion. The we add the mix contribution of each product to get the contribution margin for the mix.
Lawnmowers 20 % $30 = 6
Weed-trimmers 50 % $20 = 10
Chainsaws 30 % $40 = 12
Total Mix Contribution 28
Next we calculate the BEP in units as usual
[tex]\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}[/tex]
4,200,000/ 28 = 150,000 Mix units
Now we multiply the mix units by each product weight to get the sales for each product.
150,000 x 20% = 30,000 Lawnmowers
150,000 x 50% = 75,000 Weed-trimmers
150,000 x 30% = 45,000 Chainsaws
Yard Tools must sell a total of 150,000 units to break even. This translates into 30,000 lawnmowers, 75,000 weed-trimmers, and 45,000 chainsaws, according to their sales mix.
Explanation:To solve this problem, we need to calculate the weighted average contribution margin per unit (WACM), and then divide the fixed costs by this figure. The percentage of sales mix is the 'weight' of each product, and the unit contribution margin is the 'value'.
So, to calculate the WACM:
For Lawnmowers that's 0.20 (or 20%) times $30, which gives us $6.For Weed-trimmers it's 0.50 times $20, which gives us $10.And for Chainsaws it's 0.30 times $40, which gives us $12.Summing these up, we get a total WACM of $28. Then, we must divide the fixed costs by the WACM to calculate the total number of units Yard Tools must sell to break even.
That is $4,200,000 divided by $28, which equals 150,000 units in total. Given the mix, Yard Tools must sell 30,000 Lawnmowers (20% of 150,000) , 75,000 Weed-trimmers (50%), and 45,000 Chainsaws (30%) to break even.
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Skelton Brush Company sells standard hair brushes. The following information summarizes Skelton's operating activities for 2017. Selling and Administrative Expenses $44,000 Purchases 89,500 Net Sales Revenue 142,300 Merchandise Inventory, January 1, 2017 11,650 Merchandise Inventory, December 31, 2017 14,400 Calculate the operating income for 2017.
Answer:
The operating income for 2017 is $11,550
Explanation:
For computing the net income, first we have to calculate the cost of goods sold which is shown below:
Cost of goods sold = Opening merchandise inventory + Purchase - Closing inventory
= $11,650 + $89,500 - $14,400
= $86,750
Now, we know that if we deduct the cost of goods sold from sales, than gross profit is come.
So, Sales - Cost of goods sold = Gross profit
$142,300 - $86,750 = Gross Profit
Gross Profit = $55,550
Now deduct the Selling and Administrative Expenses from gross profit, so that net income can computed
So, Gross profit - Selling and Administrative Expenses = Net income
$55,550 - $44,000 = Net income
Net income = $11,550
Hence, the operating income for 2017 is $11,550
House Loan. Suppose you take out a home mortgage for $180,000 at a monthly interest rate of 0.5%. If you make payments of $1000/month, after how many months will the loan balance be zero?
Answer:
It will be after 462 months
Explanation:
We use the annuity formula for present value
[tex]C * \frac{1-(1+r)^{-time} }{rate} = PV\\[/tex]
We post our know values and start solving for time:
[tex]1000 * \frac{1-(1+0.005)^{-time} }{0.005} = 180,000[/tex]
First we clear the dividend:
[tex]1-(1+0.005)^{-time} = 180,000/1000\times 0.005[/tex]
Then we clear for the power
[tex](1.005)^{-time} = 1-0.9[/tex]
We set up the formula using logarithmic
[tex]log_{1.005}\: 0.1 = -time[/tex]
And use logarithmic properties to solve for time:
[tex]\frac{log\:0.1}{log\:1.005} = -time[/tex]
[tex]-461.6673541 = -time[/tex]
time 462 months
The following balance sheet information is provided for San Juan Company for 2014: Assets Cash $ 6,650 Accounts receivable 7,950 Inventory 11,550 Prepaid expenses 2,500 Plant and equipment, net of depreciation 18,400 Land 13,000 Total assets $ 60,050 Liabilities and Stockholders' Equity Accounts payable $ 3,150 Salaries payable 7,640 Bonds payable (Due in 2020) 15,400 Common stock, no par 18,600 Retained earnings 15,260 Total liabilities and stockholders' equity $ 60,050 What is the company's debt to equity ratio? (Round your final answer to 2 decimal places.) Multiple Choice 129.29% 45.48% 77.35% 31.87%
Answer: option c
Explanation: Debt equity ratio is ratio of the total amount of debt due on a company to the total amount of equity invested in it . It is generally used to evaluate the solvency of the company. It is computed as follows :-
[tex]=\:\frac{debt}{equity}[/tex]
[tex]=\:\frac{accounts\:payable+salary\:payable\:+bonds\:payable}{common\:stock\:+retained earnings}[/tex]
[tex]=\:\frac{3150\:+\:7640\:+\:15,400}{18,600\:+15,260}[/tex]
= 77.35%
Pablo Management has ten part-time employees, each of whom earns $135 per day. They are paid on Fridays for work completed Monday through Friday of the same week. Near year-end, the ten employees worked Monday, December 31, and Wednesday through Friday, January 2, 3, and 4. New Year's Day. (January 1) was an unpaid holiday.
A) Prepare the adjusting entry that would be recorded on Monday, Dec 31.
B) Prepare the journal entry that would be made to record payment of the eployees' wages on Friday Jan 4.
Final answer:
The adjusting entry on December 31st for Pablo Management would be a debit to Wage Expense for $1,350 and a credit to Wages Payable for $1,350 to account for one day's wages. The journal entry on January 4th would include a debit to Wage Expense for $4,050 and Wages Payable for $1,350, with a credit to Cash for $5,400 to cover the wages for the four days worked, excluding the unpaid holiday.
Explanation:
To answer the student's question regarding the adjusting and journal entries to be made for Pablo Management's employee wages, we must consider the following:
Adjusting Entry on December 31
An adjusting entry is recorded to recognize expenses incurred but not yet paid. Since the employees worked on Monday, December 31st, but not on New Year's Day, we record the wages for one day.
The adjusting entry on December 31 would be:
This reflects the expense incurred for the day worked in December.
Journal Entry on January 4
The journal entry to record the payment of the employees' wages on Friday, January 4th, must account for the four days worked in the week after excluding the unpaid holiday on January 1st.
The total wages paid on January 4 account for both the payable recognized on December 31 and the wages earned from January 2 to January 4.
Montero Co. holds 100,000 common shares (40%) of ORD Corp. as a long-term investment. ORD Corp. paid a $100,000 dividend on November 1, 2017, and reported a net income of $700,000 for 2017. Prepare entry to record the receipt of the dividend and the December 31, 2017, year-end adjustment required for the investment account.
Answer:
Cash 40,000
ORD Corp 40,000
to record the cash payment of ORD Corp
ORD Corp 280,000
Gain on Investment/ ORD Corp 280,000
to record the proportional net income of ORD Corp
Explanation:
100,000 x 40% = 40,000
700,000 x 40% = 280,000
The cash is treated as moving money from one place to another
It is moving from the company you have a degree of control, from your company. It increase your cash and decrease the Investment
The net incoem will be the gain in the investment, adn will impact the invstment asset and the gain on investment
For the employees who left the company before 3 years, what is an appropriate test of hypothesis to determine if the mean tenure of such employees equals 18 months in the population? One sample t test Paired samples t test Independent samples t test None of the above
Answer:
Here one sample t test would be the appropriate test of hypothesis to determine if the mean tenure of employees equals 18 months in the population.
Explanation:
Here we will use one sample t test because in this situation we are comparing a single sample mean to a determined constant and through this we are trying to find out whether there is any statistical difference between sample mean and a know population mean.
Final answer:
The appropriate test to determine if the mean tenure of employees who left the company before 3 years equals 18 months is the one sample t-test. This test compares the sample mean to a known value when the population standard deviation is unknown, and it is suitable for small samples or normally distributed populations.
Explanation:
To determine if the mean tenure of employees who left the company before 3 years equals 18 months, the appropriate test of hypothesis is the one sample t-test. This is because we are comparing the mean tenure of a single sample of employees to a known value (18 months) without comparing it to another sample. The one-sample t-test is especially useful when the population standard deviation is unknown the sample size is relatively small or the population is assumed to be normally distributed.
In conducting the one sample t-test, the null hypothesis (H0) posits that the mean tenure (µ) of employees equals 18 months, whereas the alternative hypothesis (Ha) suggests that the mean tenure is different from 18 months. This constitutes a two-tailed test because the alternative hypothesis does not specify whether the mean tenure is less than or greater than 18 months; it only states that it is not equal to 18 months.
Suppose your company needs $13 million to build a new assembly line. Your target debt-equity ratio is .55. The flotation cost for new equity is 6 percent, but the flotation cost for debt is only 3 percent. Your boss has decided to fund the project by borrowing money because the flotation costs are lower and the needed funds are relatively small. a. What is your company’s weighted average flotation cost, assuming all equity is raised externally? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the true cost of building the new assembly line after taking flotation costs into account? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole dollar amount, e.g., 1,234,5667.)
Answer:True cost = [tex]\frac{cost of assembly}{1-weighted flotation cost }[/tex]
= [tex]\frac{13,000,000}{1- 0.049}[/tex]
= $ 13,669,821.2
Explanation:
Given :
Debt-Equity ratio = 0.55
Flotation cost for new equity = 6%
Flotation cost for debt = 3 %
∴ To compute the weighted flotation cost , we'll use the following formula:
Weighted Flotation cost =[tex]\left [ \frac{1}{1+Debt-Equity ratio}\times Flotation cost of equity \right ] + \left [ \frac{Debt-Equity ratio}{1+Debt-Equity ratio}\times Flotation cost of debt \right ][/tex]
= [tex]\left [ \frac{1}{1+0.55}\times 0.06 \right ] + \left [ \frac{0.55}{1+0.55}\times 0.03 \right ][/tex]
= 0.0387 + 0.0106
= 0.04934 or 4.93%
The true cost of building the new assembly line after taking flotation costs into account is evaluated using the following formula :
True cost = [tex]\frac{cost of assembly}{1-weighted flotation cost }[/tex]
= [tex]\frac{13,000,000}{1- 0.049}[/tex]
= $ 13,669,821.2
"In the past few years, McDonald’s has made a lot of changes to its menu, adding more healthy choices and more higher-priced items, such as those offered in McCafé (e.g., premium roast coffee, antibiotic-free chicken, and fruit smoothies), and has also enhanced its in-restaurant services (e.g., free, unlimited Wi-Fi; upgraded interiors). Did McDonald’s new priorities—in terms of a broader, healthier menu and an improved in-restaurant experience—require changes to its traditional value chain activities? If so, how? Try to be as specific as possible in comparing the McDonald’s from the recent past (focusing on low-cost burgers) to the McDonald’s of today."
Answer: This can be explained as follows:-
Explanation: MCdonalds change in menus and adding more healthy choices does brings change in the traditional value chain of the company.
In traditional times company was mainly focused towards the taste of the product and to make the service as fast and as efficient as possible but now the company is taking care of the health of its customers. Company wants to attract new customer base of health conscious people. In traditional times company's aim was to make quick service to get the tables ready every time a customer walks in but today company wants to make the restaurant a place where people can sit and enjoy their meal for a while and company is taking help of technology in this.
Answer:
cerngscfhdugesh sorry was cleaning keyboard
Explanation:
An entrenpeneur knits sweaters for sale. The entrenpeneur has fixed costs of $100. When he makes 10 sweaters in one month, he must spend $15 on wool. When he makes 11 sweaters in one month, he must spend $17 on wool. If he has no other cost, what is the marginal cost?
Answer:
marginal cost = $2
Explanation:
given data:
cost on wool when 10 sweater made in one month = $15
cost on wool when 11 sweater made in one month = $17
fixed cost = $100
In case of no other cost present, marginal cost is given by
Marginal cost = cost of eleven sweaters - cost of ten sweaters
= $17 -$15
= $2
A company has a beginning inventory of $ 60,000 and purchases during the year of $ 90,000. The beginning inventory consisted of 4,000 units and 9,000 units were purchased during the year. The company has 5,000 units left at yearminusend. Under averageminuscost, what is Cost of Goods Sold? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.)
Answer:
Cost of goods sold 103,860
Explanation:
beginning 4,000 units at $60,000
purchases 9,000 units at $90,000
Cost of goods available 13,000 units at $150,000
average cost 11.54 (rounded to two decimal places)
13,000 units of goods for sale - 5,000 ending inventory = 9,000 units sold
cost of goods sold 9,000 x 11.54 = 103,860
The Cost of Goods Sold (COGS), under the average cost method, is calculated by finding the average cost per unit and multiplying by the number of units sold. In this case, the COGS is $80,000.
Explanation:First, let's calculate the average cost per unit by adding the beginning inventory and purchases and dividing by the total number of units (the sum of the beginning inventory units and purchased units). In this case, ($60,000 + $90,000) / (4,000 + 9,000) = $10 / unit. Then, we multiply this average cost per unit by the number of units sold, which is the difference between the total number of units and the ending inventory. Hence, (13,000 units - 5,000 units) * $10 / unit gives us a Cost of Goods Sold (COGS) of $80,000.
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Abby purchased 100 shares of her dad’s favorite stock for $25.80 per share exactly 1 year ago, commission free. She sold it today for a total amount of $2865. She plans to invest the entire amount in a different corporation’s stock today, but must now pay a $50 commission fee. If she plans to sell this new stock exactly 1 year from now and realize the same return as she has just made, what must be the total amount she receives next year? Include the commission fee as a part of the purchase price, but neglect any tax effects.
Abby made a return of $285 on the first stock and then reinvested $2815 after taking a commission fee into account. To realize the same return, she needs to receive $3100 next year.
Explanation:Let's start by calculating the return Abby made on the first stock. She bought the stock for $25.80 per share, buying a total of 100 shares which leads to an investment of $25.80 * 100 = $2580. She then sold the stocks for a total of $2865, resulting in a return of $2865 - $2580 = $285.
Next, Abby plans to reinvest the total amount but now there is a $50 commission fee. So, the amount she actually invests is $2865 - $50 = $2815. To realize the same return as her first investment, she should add the return of $285 to her invested amount so the total amount she needs to receive next year would be $2815 + $285 = $3100.
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Tyson is a 25% partner in the KT Partnership. On January 1, KT makes a proportionate distribution of $16,000 cash, inventory with a $16,000 fair value (inside basis $8,000), and land with a fair value of $8,000 (inside basis of $12,000) to Tyson. KT has no liabilities at the date of the distribution. Tyson's basis in his KT partnership interest is $24,000. What is Tyson's basis in the distributed inventory and land?
Answer:
Tyson's basis in the distributed inventory = $8,000 and land = $12,000
Explanation:
Total basis value of assets received by Tyson = Cash + Inventory + Land
= $16,000 + $8,000 + $12,000 = $36,000
For this Tyson's basis of interest in partnership = $24,000
Thus Tyson's Basis in Inventory = $8,000
Tyson's basis for Land = $12,000
Note: the basis is book value and not the market value even in case it is less than book value.
Tyson's basis in the distributed inventory = $8,000 and land = $12,000
Tyson's basis in the distributed inventory and land from KT Partnership is respectively $2,000 and $3,000, computed by taking his 25% ownership of the inside basis.
Explanation:In this business scenario involving partnership distribution, Tyson's basis in the distributed inventory and land can be calculated based on the inside basis. For the inventory, Tyson would take his ownership percentage (25%) of the inside basis which results in $2,000 ($8,000 * 0.25). Similarly, for the land, he would take 25% of the inside basis, amounting to $3,000 ($12,000 * 0.25). Therefore, Tyson's basis in the distributed inventory is $2,000 and $3,000 in the land.
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Exercise 24-5 Bruno Corporation is involved in the business of injection molding of plastics. It is considering the purchase of a new computer-aided design and manufacturing machine for $436,900. The company believes that with this new machine it will improve productivity and increase quality, resulting in an increase in net annual cash flows of $103,273 for the next 6 years. Management requires a 10% rate of return on all new investments. (a) Calculate the internal rate of return on this new machine. Should the investment be accepted? (b) Calculate cash payback period, internal rate of return, and apply decision rules.
Answer:
The internal rate of return is 11%, the investment will be accepted.
Payback Period is 5
Explanation:
We use excel or a spreadsheet to calculate this ratio. See document attached.
We must use a cash flow to solve this problem.
At moment 0 we have the investment cost , in this case $436,900. From period 1 to period 6, we have incomes o benefits of $103,273. Then, we calculate the Net cash flow that is the difference between benefits and cost.
We use all the result (positive and negative) in Net cash flow to get the IRR.
The decision rules are 3:
Net Present Value (NPV)
Internal Rate of Return (IRR)
Payback Period
if the total cost for producing widgets can be represented by TC = 8,000 + 0.75X, where X is the number of widgets produced and total revenue can be represented by TR = 4X, what is the breakeven value for number of widgets produced?
Answer: The breakeven value for the number of widgets produced is 2462.
Explanation:
The Breakeven point is the point where the total revenue of a particular firm is equal to the total cost of that firm,
TR = TC
4X = 8000 + 0.75X, where X is number of widgets produced
3.25X = 8000
X = [tex]\frac{800000}{325}[/tex]
X = 2462
So, this is the breakeven value for the number of widgets produced.
Most organizations with strong ethical climates usually focus on the core value of placing _____ interests first. customers' employees' stockholders' suppliers' distributors'
Final answer:
Organizations with a strong ethical climate prioritize customers' interests, leading to positive job attitudes and ethical behavior. These companies value fairness, supportiveness, and respect for individual rights, which promotes a culture where people are considered the greatest asset.
Explanation:
Most organizations with strong ethical climates usually focus on the core value of placing customers' interests first. This emphasis on customer-centric values aligns with fostering a set of shared values within the organization, ensuring that employees are encouraged and motivated to treat others the way they would like to be treated themselves. By prioritizing customers' needs and establishing an ethical foundation, companies can enhance job attitudes, behaviors, and overall ethics, leading to a work environment where people are happier, more committed, and demonstrate a stronger attachment to their organization. Moreover, a customer-focused approach contributes to long-term relationships based on ethics and trust, crucial for the sustained success of any business.
People-oriented cultures hold fairness, supportiveness, and respect for individual rights in high regard, and this is exemplified in the way they treat both their employees and customers. Companies that live by the principle that 'people are their greatest asset' create an atmosphere where employees do not feel compelled to choose between work and their personal lives, leading to healthier job attitudes and citizenship behaviors that benefit the organization as a whole. As Heineman (2007) asserts, when behaving ethically becomes part of the company's core values, it is reflected in the company's metrics and overall operations.
The Supplies account had a balance at the beginning of year 3 of $8900 (before the reversing entry). Payments for purchases of supplies during year 3 amounted to $53300 and were recorded as expense. A physical count at the end of year 3 revealed supplies costing $14900 were on hand. Reversing entries are used by this company. The required adjusting entry at the end of year 3 will include a debit to:
Answer:
supplies expense 47,300 DEBIT
supplies 47,300 CREDIT
Explanation:
[tex]$$Beginning Inventory + Purchase = Ending Inventory + supplies Expense[/tex]
8,900 + 53,300 = 14,900 + supplies expense
8,900 + 53,300 - 14,900 = supplies expense
supplies expense = 47,300
Beginning and Purchase will be the supplies available during the period.
this supplies can be used or stored.
if the stored are 14,900 then the diference was used.
Final answer:
The required adjusting entry at the end of year 3 would include a debit to the Supplies Expense account for $47,300, which is the calculated value of supplies used during the year (beginning balance plus purchases minus the ending physical count).
Explanation:
The subject of this question is accounting, specifically related to the adjusting entries at year-end for the supplies account balance. When a physical count reveals that the supplies on hand at the end of the year cost $14,900, and the company had a beginning balance of supplies of $8,900, we need to account for the supplies used during the year. During year 3, payments for purchases of supplies amounted to $53,300 and were recorded as an expense. However, we need to adjust the expense to reflect the actual supplies used.
To do this, we would calculate the supplies used as follows:
Beginning balance of supplies: $8,900
Add: Purchases of supplies during the year: $53,300
Less: Ending balance of supplies: $14,900 (physical count)
Equals: Supplies expense for the year (supplies used): $47,300
The required adjusting entry at the end of year 3 would therefore include a debit to Supplies Expense for the value of supplies used ($47,300) and a credit to the Supplies account for the same amount, assuming the company had initially debited Supplies Expense when the supplies were purchased.
The reversing entry, typically done at the beginning of the new year, would reverse this process, making the books ready for the new year's transactions.
Bonita Industries has gathered the following information concerning one model of shoe: Variable manufacturing costs $28000 Variable selling and administrative costs $12000 Fixed manufacturing costs $160000 Fixed selling and administrative costs $120000 Investment $1600000 ROI 30% Planned production and sales 5000 pairs What is the markup percentage?
Answer:
Markup percentage = 150%
Explanation:
Markup = Selling Price - Cost
Total Cost = Variable + Fixed
Variable Costs = Manufacturing + Selling and Administrative
= $28,000 + $12,000 = $40,000
Fixed Costs = Manufacturing + Selling and Administrative
= $160,000 + $120,000 = $280,000
Total Cost = $40,000 + $280,000 = $320,000
Cost per unit = $320,000/ 5,000 = $64 per unit
Return on Investment = $1,600,000 X 30% = $480,000
Selling Value = Total Cost + Profit or Return = $320,000 + $480,000 = $800,000
Selling Price per unit = $800,000/5,000 = $160
Markup Percentage = [tex]\frac{Selling price - Cost per unit}{Cost per unit} X 100[/tex]
= [tex]\frac{160-64}{64} X 100 = 150[/tex] percent
= 150%
The stock of North American Dandruff Company is selling at $80 per share. The firm pays a dividend of $2.50 per share. (a) What is the dividend yield? (Round your answer to 3 decimal places. Omit the "%" sign in your response.) (b) If the firm has a payout rate of 50 percent, what is the firm’s P/E ratio? (Enter numeric value only.)
Answer:
(a) Dividend Yield = 3.125 percent
(b) P/E Ratio = 16 times
Explanation:
(a) Dividend yield = [tex]\frac{Current year dividend}{Price of the share}[/tex] X 100
Current year dividend = $2.5
Company's selling price of share = $80
Dividend yield = [tex]\frac{2.5}{80} X100[/tex] = 3.125 percent
(b) Given payout ratio is 50 percent that means earnings X 50% = $2.5
Earnings = [tex]\frac{2.5}{0.5}[/tex] = $5
P/E ratio = Price / Earnings = $80/$5 = 16 times.
Dividend Yield = 3.125 percent
P/E Ratio = 16 times
Adamson Company manufactures four lines of garden tools. As a result of an activity analysis, the accounting department has identified eight activity cost pools. Each of the product lines is produced in large batches, with the whole plant devoted to one product at a time. Classify each of the following activities or costs as either unit-level, batch-level, product-level, or facility-level. Activities (a) Machining parts. (b) Product design. (c) Plant maintenance. (d) Machine setup. (e) Assembling parts. (f) Purchasing raw materials. (g) Property taxes. (h) Painting.
Answer:
(a) unit level activity
(b) Product level activity
(c)Facility level activity
(d) Batch level activity
(e) unit level activity
(f) batch level activity
(g) facility level activity
(h) unit level activity
Explanation:
Unit level activity : It is that type of activity which is deals with only unit of product whether it is a selling unit, variable cost unit , direct material unit, direct labor unit or fixed cost unit.
Batch level activity: It is that type of activity which focuses on batches or bulk goods so that good discount to be provided due to which customers are happy that results in increase in sales.
Product level activity: It is that type of activity which deals in a single product or we can say finished product which is ready to sale.
Facility level activity: It is that type of activity which aims in giving the facilities relating to the product or charges some taxes.
BY going through the meaning of each one of the activity level, we get to know that (a) unit level activity
(b) Product level activity
(c)Facility level activity
(d) Batch level activity
(e) unit level activity
(f) batch level activity
(g) facility level activity
(h) unit level activity
Activities or costs at Adamson Company are classified into unit-level, batch-level, product-level, or facility-level categories to manage expenses more effectively through activity-based costing.
We need to classify each of the activities or costs Adamson Company incurs into one of four levels: unit-level, batch-level, product-level, or facility-level. Here is how each activity could be categorized:
(a) Machining parts: Unit-level, as this is likely a cost that varies with the production of each individual unit.(b) Product design: Product-level, since the design is specific to each product line and doesn't change with every batch or unit.(c) Plant maintenance: Facility-level, because it's a cost necessary for keeping the plant operational, regardless of the number of units or batches produced.(d) Machine setup: Batch-level, since this occurs every time a new batch of products begins production.(e) Assembling parts: Unit-level, as it is an activity that happens for each individual unit.(f) Purchasing raw materials: This could be at the batch or product-level, depending on whether raw materials vary by batch or by product line.(g) Property taxes: Facility-level, these are costs associated with the facility and do not vary with production volume.(h) Painting: This could be seen as batch-level if multiple units are painted at a time, or unit-level if painting happens per unit produced. The exact categorization may depend on the details of the production process.Activity-based costing groups expenses into various categories to better understand and manage the costs associated with different activities.
Lewis Brown bought four lots of land for $100,000. On the date of purchase, the lots had the following fair market values:Lot #1$25,000Lot #2$31,250Lot #3$20,625Lot #4$48,125What is the basis to Lewis of Lot #3?
Answer:
Basis of Lewis of Lot #3 = $16,500
Explanation:
Total of all the lots = $25,000 + $31,250 + $20,625 + $48,125 = $125,000
Since the land is purchased for $100,000
The basis for each dollar = $100,000/$125,000 = $0.8 for each dollar
Thus for Lot #3 basis = $0.8 X $20,625 = $16,500
Note: The basis is calculated so that directly the lot value is not considered as the total cost is only 80% of total lot value.
Basis of Lewis of Lot #3 = $16,500
Which one of the government actions would most enhance efficiency in a free market, according to most economists? regulating profits to prevent extreme disparities in wealth placing limits on the amount that landlords can increase rent to protect renters identifying and helping industries that are the most important to the ruling party's policies protecting private property Per most economists, which of the possible government activities would not enhance the operation of a free market? defining property rights clearly creating an independent judiciary establishing a minimum wage to guarantee minimum incomes for unskilled workers issuing a patent for a water purifier that prevents anyone but the inventor from producing it
Final answer:
Protecting private property enhances efficiency in a free market by providing security for investments, whereas establishing a minimum wage might not enhance market operation as it can lead to unemployment and distort labor market signals.
Explanation:
Among the government actions that would most enhance efficiency in a free market, according to most economists, is protecting private property. This action provides a foundational element for market activities because it ensures that individuals can securely own and invest in assets, which in turn, solidifies the incentives to engage in economic activities. Conversely, of the options listed, establishing a minimum wage is the action that might not enhance the operation of a free market, as it can create a price floor above the equilibrium wage, potentially leading to a surplus of labor (unemployment), and distortion of market signals for labor.
Allowance Method of Accounting for Bad Debts— Comparison of the Two Approaches. Kandel Company had the following data available for 2014 (before making any adjustments):
Accounts receivable, 12/31/14 $320,100 (Dr.)
Allowance for doubtful accounts 2,600 (Cr.)
Net credit sales, 2014 834000 (Cr.)
Required:1. Prepare the journal entry to recognize bad debts under the following assumptions: (a) bad debts expense is expected to be 2% of net credit sales for the year and (b) Kandel expects it will not be able to collect 6% of the balance in accounts receivable at year-end.2. Assume instead that the balance in the allowance account is a $2,600 debit. How will this affect your answers to part (1)?
Answer:
(A) bad debt expense 16,680 debit
allowance for doubtful accounts 16,680 credit
(B) bad debt expense 16,606 debit
allowance for doubtful accounts 16,606 credit
2.-
(A) will not change, we are adjusting for the "% of sales regardless of the beginning balance
(B) bad debt expense 16,806 debit
allowance for doubtful accounts 21,806 credit
Explanation:
(A)
bad debt expense expected as 2% of credit sales
834,000 x 2% = 16,680
we are recognizing the bad debt expense, so we directly record for this amount
(B)
uncolectible 6% of AR
ending baaance we expect this as uncollectible amount
ending balance 6% of 320,100 19,206
current balance allowance (2,600) credit
adjustment 16,606
2.- B
ending balance 6% of 320,100 19,206
+ current balance allowance 2,600 debit
adjustment 21,806
Direct materials used LO C5 3M Co. reports beginning raw materials inventory of $902 million and ending raw materials inventory of $855 million. 3M purchased $3,646 million of raw materials during the year. What is the amount of raw materials it used during the year?
Answer:
Raw materials used during the year 3,693 MILLONS
Explanation:
From the intentory Identity we can solve for used raw materials
[tex]$$Beginning Inventory + Purchase = Ending Inventory + USED[/tex]
We post the know values, and solve for the unknow values:
[tex]902 + 3,646 = 855 + USED\\902 + 3646 - 855 = 3,693[/tex]
Raw materials used during the year 3,693 MILLONS
Notice: This identity can be use anytime you have partial information about inventory to get the missing data.
Inventory Valuation under Absorption Costing During the most recent year, Judson Company had the following data associated with the product it makes: Units in beginning inventory 300 Units produced 15,000 Units sold ($300 per unit) 12,700 Variable costs per unit: Direct materials $20 Direct labor $60 Variable overhead $12 Fixed costs: Fixed overhead per unit produced $30 Fixed selling and administrative $140,000 How many units are in ending inventory?
Answer:
Value(ending inventory) = Units (ending inventory) × Cost per unit
= (2600 × 122)
= $ 317,200
Explanation:
Given :
Beginning inventory = 300
Units produced = 15,000
Units sold ($300 per unit) = 12,700
Variable costs per unit:
Direct materials = $20
Direct labor = $60
Variable overhead = $12
Fixed costs:
Fixed overhead per unit produced = $30
Fixed selling and administrative = $140,000
Units in ending inventory = Units in beginning inventory + Units produced - Units sold ($300 per unit)
= $300 + $15000 - $12700
= $2600
Cost per unit = Variable costs per unit + Fixed costs
= (Direct material + Direct labor + Variable overhead) + Fixed overhead per unit produced
= ($20 + $60 + $12) + $30
= $122
Value of ending inventory = Units in ending inventory × Cost per unit
= (2600 × 122)
= $ 317,200
Harding, Jones, and Sandy, a partnership, is in the process of liquidating. The partners have the following capital account balances; $24,000, $24,000, and ($9,000) respectively. The partners share all profits and losses 16%, 48%, and 36%, respectively. Sandy has indicated that the ($9,000) deficit will be covered with a forthcoming contribution. The remaining partners have requested an immediate distribution of $20,000 in cash that is available. How should this cash be distributed?
Answer: Cash to be distributed to Harding = $ 17000, Jones = $ 3000
Explanation:
It has been indicated that the ($9,000) deficit will be covered with a forthcoming contribution
∴ The Remaining Capital Balance is = (24000 + 24000) = $48000
∵Total cash Available = $20000
Loss = 48000 - 20000 = $ 28000
Loss will be shared between Harding & Jones in ratio = 16:48
∴ Harding Capital balance = [tex]\frac{(24000 - 28000)\times16}{16+48}[/tex] = $ 17000
∴ Jones Capital balance = [tex]\frac{(24000 - 28000)\times48}{16+48}[/tex] = $ 3000
Cash will be Distributed in their capital balance ratio
Therefore,
Cash to be distributed to Harding = $ 17000, Jones = $ 3000
Answer: Cash to be distributed to Harding = $17,000, Jones = $3,000
Explanation:
24,000+24,000+20,000=68,000
16%/(16%+48%)=25%
48%/(16%+48%)=75%
68,000*25%=17,000
68,000*75%=51,000
24,000+24,000=48,000
51,000-48,000=3,000