Answer:
The total amount of expenses that should be allocated towards drilling is $35,360.
Explanation:
We have been given three categories of office expenses -
SALARY = $34,000
DEPRECIATION = $22,000
ADVERTISING = $42,000
and we have to calculate the expenses allocated to drilling departments, so we will allocate from each of the three given expenses the proportion of expenses which belong to drilling department.
SALARY = $34,000 X Number of employees in drilling / total number of
employees
= $34,000 x 600 / 2000
= $10,200
DEPRECIATION = $22,000 X Cost of goods sold for drilling / total cost of
goods sold
= $22,000 x $83,600 / $220,000
= $8,360
ADVERTISING = $42,000 X Net sales from drilling / total net sales
= $42,000 x 328,000 / $820,000
= $ 16,800
TOTAL DRILLING EXPENSES = $10,200 + $8360 + $16,800
= $35,360
The total office expenses allocated to the Drilling department for the current period is $35,360, calculated by distributing the expenses of salaries, depreciation, and advertising across the departments according to the given allocation bases.
To determine the amount of the total office expenses that should be allocated to the Drilling department, we need to distribute each category of office expenses based on the specified allocation bases provided: salaries on the number of employees, depreciation on the cost of goods sold, and advertising on net sales. The calculation for each category of expense is as follows:
Salaries:
$34,000 * (Drilling employees / Total employees) = $34,000 * (600 / 2000) = $10,200
Depreciation: $22,000 * (Drilling COGS / Total COGS) = $22,000 * ($83,600 / $220,000) = $8,360
Advertising: $42,000 * (Drilling Net Sales / Total Net Sales) = $42,000 * ($328,000 / $820,000) = $16,800
Addition of all three allocated expenses provides the total expense allocation for the Drilling department:
Total allocated to Drilling = Salary allocation + Depreciation allocation + Advertising allocation = $10,200 + $8,360 + $16,800 = $35,360.
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.
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
"Ceteris paribus" means demand will change when price changesa. no matter what other factors may influence the marketb. if other market factors remain constantc. only if the supply also does not changed. only in the short-term
Answer:
The correct answer is option b.
Explanation:
The term Ceteris paribus is a Latin phrase which means holding other things constant.
Ceteris paribus in the law of demand means keeping other market constant, the demand for a commodity will change with change in the price.
The other market factors here are income, population, taste and preferences etc.
Final answer:
Ceteris paribus means 'other things being equal' and is used when analyzing how changes in one variable, like price, affect demand or supply, assuming all other factors are held constant. It is a fundamental economic principle for isolating the effects of one variable on another in economic analysis.
Explanation:
Ceteris paribus is a Latin phrase that translates to "other things equal" and is commonly used in economics to describe a situation where all other variables are held constant while analyzing the relationship between two specific variables. This concept is key when examining the effect that changes in price have on the demand or supply of a good or service. When we say demand will change when price changes ceteris paribus, we mean that demand will only change because of the price movement if other market factors remain constant (b).
In real-world economics, demand and supply are influenced by various factors such as consumer income, the price of other goods, and production costs. To rigorously understand the impact of price changes, economists assume a ceteris paribus condition where these other factors do not change. This approach allows economists to isolate the effect of the price change on demand or supply without interference from other variables.
If any factors other than the price were to change, such as a shift in consumer tastes or a technological advancement in production, the corresponding demand or supply schedule would need to be reassessed to reflect these changes. Thus, the ceteris paribus assumption is crucial for simplifying the complex relationships in economic analysis and is not indicative of short-term analysis nor does it apply when other variables, including supply, change.
Pettifog Partnership distributes cash of $20,000, hot assets worth $5,000, and a parcel of land in a liquidating distribution to Li, a partner. The hot assets have a basis of $0 to the partnership. The land has a fair market value of $80,000 and an inside basis of $55,000. Li’s outside basis in Pettifog just prior to the distribution is $85,000. What amount of gain or loss, if any, must Li recognize and what is Li’s resulting basis in the land?
Answer:
The amount of gain that Li will have is $0 and the resulting basis of land is $60,000.
Explanation:
To take out the resulting basis of land and gain or loss , we need to know what happens in this situation of liquidating distribution. Under this liquidating distribution , the gain will only be recognized when the cash receipts that Li will receive are more than than the outside basis.
Here Li is also receiving other assets along with the cash , so the remaining balance ( which we will get by subtracting cash receipts from the Li outside basis before distribution ) will be adjusted against these assets.
Li outside basis = $85,000
(-) cash received = $20,000
(-) hot assets = $5,000
Balance left to be adjusted against assets = $60,000
Here there is no gain for Li since cash receipts are not more than than outside basis and the resulting basis in land is $60,000.
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
The following lots of a particular commodity were available for sale during the year Beginning inventory 10 units at $52.00 First purchase 19 units at $50.00 Second purchase 55 units at $59.00 Third purchase 14 units at $63.00 The firm uses the periodic system, and there are 27 units of the commodity on hand at the end of the year. What is the amount of inventory at the end of the year according to the LIFO method? Select the correct answer.
Answer:
Ending Inventory $1,523
COGS $4,227
Explanation:
PURCHASES
DATE QUANTY PRICE SUBTOTAL
Beginning 10 $52 $520.00
1st 19 $50 $950.00
2nd 55 $59 $3,245.00
3rd 14 $63 $882.00
Because we sold at LIFO we record the latest units as COGS and the first untis at ending invenotry.
So we start from the first line until reach the 27 units
27 - 10 beginning = 17
we are short, so we move to next line
19 - 17 = 2 with this unit we cover the ending inventory, the diference is part of COGS and all the lines below are also COGS
COGS
2 units at $50
55 units at $59
14 units at $63
Total 4,227
Ending Inventory
10 units at $52
17 units at $59
Total $1,523
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.
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%
Case A. Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $13,500 (original cost of $31,000 less accumulated depreciation of $17,500) and a fair value of $9,300. Kapono paid $23,000 cash to complete the exchange. The exchange has commercial substance. Required: 1. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor? 2. Assume the fair value of the old tractor is $17,000 instead of $9,300. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?
Answer:
1. Gain or loss on exchange = $4,200 (Loss)
Initial value of the new tractor = $32,300
2. In case the fair value of old tractor = $17,000
Gain or loss on exchange = $3,500 Gain
Initial value of the new tractor = $40,000
Explanation:
Note: When a transaction has commercial substance, it means it is marketable and can be sold at fair value provided, in that case book value of old asset to be sold is not considered for calculating initial cost of new asset.
Since the transaction has commercial substance
Fair value of the old tractor will be considered.
Cost of new tractor = Cash paid + Fair value of old tractor
= $23,000 + $9,300 = $32,300
1. Gain or loss on exchange = Exchange value of old tractor - Book value of old tractor
Exchange value of old tractor = Fair value of old tractor as transaction had commercial substance = $9,300
Gain or loss on exchange = $9,300 - $13,500 = -$4,200 (Loss)
Initial value of the new tractor = Cost of new tractor as computed above = $32,300
2. In case the fair value of old tractor = $17,000
Then
Gain or loss on exchange = Exchange value of old tractor - Book value of old tractor = $17,000 - $13,500 = $3,500 Gain
because exchange value of old tractor = Fair value of old tractor as transaction had commercial substance
Initial value of the new tractor = Cost of new tractor = $23,000 + $17,000 = $40,000
Final Answer is as follows:
1. Gain or loss on exchange = $4,200 (Loss)
Initial value of the new tractor = $32,300
2. In case the fair value of old tractor = $17,000
Gain or loss on exchange = $3,500 Gain
Initial value of the new tractor = $40,000
Kapono Farms would recognize a loss of $4,200 with the new tractor valued at $32,300 in the first scenario and a gain of $3,500 with the new tractor valued at $40,000 in the second scenario.
Explanation:1. For the first scenario, Kapono Farms would recognize a loss on the exchange since the fair value of the old tractor ($9,300) is less than its book value ($13,500). The loss would be $4,200 ($13,500 - $9,300). The initial value of the new tractor would be the sum of the fair value of the old tractor and the additional cash paid, i.e. $9,300 + $23,000 = $32,300.
2. For the second scenario, where the fair value of the old tractor is deemed to be $17,000, Kapono Farms would recognize a gain on the exchange as the fair value exceeds the book value. The gain would be $3,500 ($17,000 - $13,500). The initial value of the new tractor would be the sum of the fair value of the old tractor and the additional cash paid, i.e. $17,000 + $23,000 = $40,000.
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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.
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
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.
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
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.
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
Mauro Products distributes a single product, a woven basket whose selling price is $21 per unit and whose variable expense is $18 per unit. The company’s monthly fixed expense is $8,100. Required: 1. Calculate the company’s break-even point in unit sales. 2. Calculate the company’s break-even point in dollar sales. (Do not round intermediate calculations.) 3. If the company's fixed expenses increase by $600, what would become the new break-even point in unit sales
Answer:
1. Break even points in units will be = 2,700 units
2. Break-even point in dollar sales = $56,700
3. In case fixed expense increase by $600 then Break even point in unit sales = 2,900 units
Explanation:
Break even point = [tex]\frac{Fixed Cost}{Contribution per unit}[/tex]
Fixed Cost = $8,100
Contribution per unit = Sale Price - Variable Cost = $21 - $18 = $3
1. Break even points in units will be
= [tex]\frac{8,100}{3} = 2,700 units.[/tex]
2. Break-even point in dollar sales
= Break even point in units X Sale price per unit
= 2,700 units X $21 = $56,700
3. In case fixed expense increase by $600 then Break even point in unit sales
= [tex]\frac{8,100 + 600}{3}[/tex] = 2,900 units
Final Answer
1. Break even points in units will be = 2,700 units
2. Break-even point in dollar sales = $56,700
3. In case fixed expense increase by $600 then Break even point in unit sales = 2,900 units
To calculate the break-even point in units and dollars for Mauro Products, one can use the formulas considering fixed costs, selling price, and variable cost per unit. For Doggies Paradise Inc., a table reflecting the relation between total revenue, marginal revenue, total cost, and marginal cost is created to determine the profit-maximizing quantity where MR equals MC.
Explanation:The student's question involves calculating the break-even point in unit and dollar sales for Mauro Products, and analyzing the impact of increased fixed expenses on this break-even point. Furthermore, the student seeks assistance with understanding profit maximization in the context of Doggies Paradise Inc. and WipeOut Ski Company, using concepts such as total revenue, marginal revenue, total cost, and marginal cost.
Calculation for Mauro Products:To calculate the break-even point in units, we use the formula: Break-Even Point (units) = Fixed Costs / (Selling Price per Unit - Variable Expense per Unit). With a selling price of $21, variable expense of $18 per unit, and fixed expenses of $8,100, the break-even point in units would be 8,100 / (21 - 18), which is 2,700 units.To find the break-even point in dollar sales, multiply the break-even point in units by the selling price per unit. So, the break-even point in dollar sales is 2,700 units * $21 = $56,700.With an increase in fixed expenses by $600, the new fixed expenses become $8,100 + $600 = $8,700. The new break-even point in unit sales becomes 8,700 / (21 - 18), which is 2,900 units.Profit Maximization for Doggies Paradise Inc:Profit maximization occurs where marginal revenue (MR) equals marginal cost (MC). To find this, we need a table of output levels 1 to 5, calculating total revenue (number of units * selling price), marginal revenue (change in total revenue / change in quantity), total cost (fixed cost + total variable cost), and marginal cost (change in total cost / change in quantity). For Doggies Paradise Inc., the total revenue at each output level is $72, $144, $216, $288, and $360 respectively, since each coat sells for $72. The marginal revenue is constant at each level ($72) due to the nature of a perfectly competitive market. Total cost at each output level is the fixed cost ($100) added to the corresponding total variable cost, and the marginal cost can be calculated for each incremental unit. The profit-maximizing quantity is where MR equals MC, before MC starts to exceed MR.
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A variance is ________.A) the difference between actual fixed cost per unit and standard variable cost per unitB) the standard units of inputs for one output C) the difference between an actual result and a budgeted performanceD) the difference between actual variable cost per unit and standard fixed cost per unit
Answer:
C) the difference between an actual result and a budgeted performance.
Explanation:
A variance is the difference between an actual result and a budgeted performance.
A variance is the difference between an actual result and a budgeted performance.
Managing complex projects often involves use of multidisciplinary teams (MTs) including personnel from a. different college majors. b. different organizations including subcontractors. c. different work units within the organization. d. various combinations of college majors, work units, subcontractors, and industry partners.
Answer: d. various combinations of college majors, work units, subcontractors, and industry partners.
Explanation: Managing complex projects often involves the use of multidisciplinary teams (MTs) including personnel from various combinations of college majors, work units, subcontractors, and industry partners. Managing a complex project is a work of coordination of all these teams of the project to achieve the goals. The project manager is in charge of project coordination.
This answer provides an understanding of how multidisciplinary teams (MTs) are used to manage complex projects, explaining their importance in today's rapidly changing workplace landscape. It emphasizes the diversity found in these teams and the varied types of teams seen in the business world.
Explanation:Managing complex projects involve the use of multidisciplinary teams (MTs), which can encompass members with unique skill sets from different college majors, different organizations including subcontractors, various units within the same organization, and combinations of these elements. This practice has increased in popularity due to shifts in technology, economics, globalization, foreign competition, and varying workplace demographics, necessitating a responsive and adaptable organizational structure.
Modern businesses significantly benefit from task division amongst diverse team members, just like in a restaurant where jobs of varying complexities are divided into roles like top chef, sous chefs, kitchen help, servers, greeters, janitors, and business managers. Similarly, larger, complex organizations such as hospitals or manufacturing factories can have hundreds of distinct job classifications.
Teams are categorized into three primary types: problem resolution teams, creative teams, and tactical teams. However, studies are also being conducted on the effectiveness and functionality of virtual teams, especially with the increasing globalization of organizations and the incremental reliance on digital communication.
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"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:
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Explanation:
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).
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.
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%
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
earned $ 155,000 of service revenue during 2018. Of the $ 155,000 earned, the business received $ 135.000 in cash. The remaining amount, $ 20,000, was still owed by customers as of December 31. In addition, Total Spa Services incurred $ 82,000 of expenses during the year. As of December 31, $ 8,000 of the expenses still needed to be paid. In addition, Total Spa Services prepaid $ 7,000 cash in December 2018 for expenses incurred during the next year. 1. Determine the amount of service revenue and expenses for 2018 using a cash basis accounting system 2. Determine the amount of service revenue and expenses for 2018 using an accrual basis accounting system.
Answer:
1.- revenue 142,000
expenses 81,000
2.- revenue 155,000
expenses 82,000
Explanation:
1) 135,000 cash proceed from services + 7000 prepaid services = revenue under cash basis accounting 142,000
beginning payable + incurred - ending= paid
7,000 + 82,000 - 8,000 =81,000
2) under accrual basis accounting it will count the earned services only,
and the incurred expenses for the period.
Thirty-six percent of sales at supermarkets in the United Kingdom carry the stores' own brand names. Eighteen percent of all supermarket sales in France and Germany carry the stores' own brand names. And in the United States, 14 percent carry the stores' own brand names. These stores use a ________ strategy to sell other manufacturers' products with their own brand names.
Answer:
The correct answer is generic branding strategy.
Explanation:
A generic brand is a kind of consumer product that doesn't have a widely recognized name.
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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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
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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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
A home equity loan can be risky because the lender can foreclose if you don’t make your payments. True or False
Yes, a home equity loan can be risky because if payments are not made, the lender can foreclose. This risk was exacerbated by the securitization process, leading to reckless lending like subprime and NINJA loans.
Explanation:The statement is true that a home equity loan can be a risky move for borrowers because the lender has the power to foreclose if you do not make payments. A major factor responsible for this is the securitization process. The process, initially intended to redistribute risk and make lending more fluid, lost its direction when banks, not bearing the brunt of bad loans, began to lend carelessly. In the midst of this reckless lending, loans with little borrower appraisal, like subprime loans and NINJA loans, proliferated. These are loans made without sufficient regard for the borrower's ability to repay. Consequently, they became part of the complex puzzle leading to the global financial crisis, affecting home ownership adversely.
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