Answer:
THE FISCAL YEAR END.
Explanation:
Selection of an inventory costing method by management does not usually depend on THE FISCAL YEAR END
Answer:
The fiscal year end
Explanation:
Cost accounting information is designed for managers. Since managers are making decisions only for their own organization, there is no need for the information to be comparable to similar information from other organizations. Instead, the important criterion is that the information must be relevant for decisions that managers, operating in a particular environment of business including strategy, make. Cost accounting information is commonly used in financial accounting information, but first we are concentrating on its use by managers to take decisions. The accountants who handle the cost accounting information add value by providing good information to managers who are making decisions. Among the better decisions, is the better performance of one’s organization, regardless if it is a manufacturing company, a bank, a non-profit organization, a government agency, a school club or even a business school. The cost-accounting system is the result of decisions made by managers of an organization and the environment in which they make them.
The specific identification method of inventory costing attaches the actual cost to an identifiable unit of product. Firms find this method easy to apply when purchasing and selling large inventory items such as cars.
conomists make use of assumptions, some of which are unrealistic, for the purpose of a. teaching economics to people who have never before studied economics. b. advancing their political agendas. c. developing models when the scientific method cannot be used. d. focusing their thinking.
Answer: (D) Focusing their thinking
Explanation:
According to the give question, the economist use the various types of assumptions for understanding the various types of managing the business in the competitive market environment.
The economist assumptions is basically helps in making various types of effective decisions that makes better understand their client and also customer in the economic model.
Some of the assumptions are also unrealistic for the main purpose of focusing their thinking ability as it helps in improving the thinking ability of the person so that they can make various types of effective decisions.
Therefore, Option (D) is correct answer.
A job ________ describes the qualifications necessary for a specific job, in terms of education, experience, personal characteristics, and physical characteristics.
a. appraisal
b. description
c. specification
d. resume plan
Answer:
The answer is specification (Option C)
Explanation:
A job specification is a written statement that describes the set of specific knowledge, experience and qualities which a person must possess in order to work a particular job.
The set of experience, qualities and knowledge include emotional, technical, physical and communication skills required to perform a job, level of experience, responsibilities involved in the job, academic qualifications, among other demands.
The term 'job specification' refers to a description of the qualifications necessary for a particular job, including education, experience, personal and physical characteristics. It serves as a guide for potential candidates and an important tool for HR during recruitment.
The correct option is c.
Explanation:A job specification describes the qualifications necessary for a specific job, in terms of education, experience, personal characteristics, and physical characteristics. This is not to be confused with a job description, which outlines the responsibilities and duties of the job, or a job appraisal, which is a performance review. A job specification acts as a guide for potential candidates, helping them understand if they have the required skills and qualifications needed for the job. In addition, it serves as a useful tool for human resources to screen candidates and can be crucial during the recruitment process.
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A total of $15, 000 is invested in two corporate bonds that pay 5% and 7% interest. The investor wants to earn $880 in interest per year from the bonds. How much should be invested in at 7% to earn this interest?
Answer:
$6500
Explanation:
Let the amount invested in 5% be X
Let the amount invested in 7% be 15000 - X
Therefore,
Given that interest from both is 880
We have
5x + 7(15000 - x) = 880 × 100
5x + 105000 - 7x = 88000
Collect like terms,
-2x = - 17000
x = 17000 ÷ 2
x = 8500
Therefore,
At 7%, amount invested
= 15000 - 8500
= $6500
Find the compounded amount. Assume 3.5% interest compounded daily.$2,750 deposited June 12 and withdrawn August 30
Answer:
June is 30 days
30-12=18 days
July is 31 days
August is 30 days
Time=18+31+30=79 days
A=2,750×(1+0.035÷365)^(79)
A=2,770.91
Interest earned
I=A-p
I=2770.91-2750
I==20.91
Starbucks focuses on making coffee. By ________, they are faster, more consistent, and their production costs are lower than McDonald’s. Although they have an advantage in the coffee department, they fall well short of par in the food department.
Answer:
Specializing in making coffee
Explanation:
Starbucks is the company or business which is involved in making the coffees and having different variety or range of coffee served to the customers or client.
Specialist means that the business or the person who concentrates on the specific activity and having or posses high skill in the particular and restricted field.
So, Starbucks is the one who focus on the coffee making through specializing in the making of coffee, and they are faster as well as more consistent and their cost of production is also low than the McDonald.
Answer:
Specializing in making coffee
Explanation:
Starbucks focuses on making coffee. By Specializing in making coffee, they are faster, more consistent, and their production costs are lower than McDonald’s. Although they have an advantage in the coffee department, they fall well short of par in the food department.
Starbuck has a competitive advantage over other food chains as they are specialized in the task of making coffee and their workers is well trained in coffee department, however, McDonald has diversified their food chain and included many beverages and food item as their speciality apart from just selling burger, which helps them to grow. McDonald's restaurants can be viewed as a manufacturing operation. McDonald's wants each crew to be efficient and productive. The crews organize by dividing the labor into parts.
A company purchased 300 units for $60 each on January 31. It purchased 150 units for $25 each on February 28. It sold a total of 250 units for $70 each from March 1 through December 31. If the company uses the weighted-average inventory costing method, calculate the amount of ending inventory on December 31. (Assume that the company uses a perpetual inventory system. Round any intermediate calculations two decimal places, and your final answer to the nearest dollar.)
Answer:
Weighted-average inventory costing method Ending Inventory = $ 9666.67= $ 9667
Explanation:
Date Particulars Units Unit Cost Total Cost
January 31 Purchases 300 $ 60 $ 18,000
February 28 Purchases 150 $ 25 $3750
Total 450 $ 21,750
Weighted-average inventory costing method= Total Cost/ Total Units=
$ 21,750/450= $48.33 purchase price per unit
Sales 250 units at $ 70 = $ 17500
Ending Units = Purchases-Sales = 450-250= 200
Weighted-average inventory costing method Ending Inventory = $ 9666.67
200 units at 448.33= $ 9666.67= $ 9667
Answer:
$9,667
Explanation:
January 31 Purchases = 300 × $60 = $18,000
February 28 Purchases = 150 × $25 = $3,750
Total cost of purchases = $1,800 + $3,750 = $21,750
Weighted average cost = $5,550 ÷ (300 + 150) = $48.33 per unit
Units of ending inventory = Total units purchased - Total units sold = (300 + 150) - 250 = 200
Amount of ending inventory on December 31 = 200 × $48.33 = $9,667.
Which of the following General Fund accounts would be closed at year end? Multiple Choice Due from State Government. Deferred Inflows – Property Taxes. Estimated Uncollectible Taxes. Other Financing Uses – Transfers Out.
Answer: Other Financing Uses - Transfers Out.
Explanation: General fund account refers to a system whereby resources are recorded whose use are limited by the provider, government agency, or by law. These accounts do not emphasize profitability rather they emphasize accountability.
Answer:
Other Financing Uses – Transfers Out.
Explanation:
The Governmental Accounting Standards Board (GASB) is the entity that establishes the accounting principles used by state and local governments. They follow the same logic than US GAAP, but most accounts are generally called differently and some procedures also vary due to budget restrictions and uses of public money.
General fund account is basically the most important account in public accounting since it used to control cash inflows and outflows. It is also divided into subsidiary accounts, basically following the logic of revenues and expenses. Also following the logic of revenues and expenses, some of them must be closed at the end of the year.
Other financing uses account includes special transactions regarding non-operating revenues and expenses. Transfers out account includes transfers from the fund balance account.How many days do you have to resolve your delinquency before your loan officially defaults
Answer:
270 days
Explanation:
A loan is delinquent if its not paid as at when due. When this happens, the lender has a window of 270 days within which to pay the loan.
When the loan is not paid between this 270 days, the loan goes into default. This means that the lender has refused to pay the loan and that could attract sanctions or drastic measure being taken out on the lender to recover the loan.
Cheers.
Uncle John's Pipe Company has been experiencing several years of financial difficulty and, thus, has considered maintaining its dividend payment at $2.50 indefinitely. What is the value of its common stock if the required rate of return is 8.5 percent?
Answer:
The value of its common stock is $29.41
Explanation:
As the Dividend payment is for indefinite period of time, This is the perpetuity payment. The value of share can be determined by calculating the present value of perpetuity payment.
The formula for the present value of perpetuity is as follow
Present value of perpetuity = Cash flow / Required Rate of return
In this case the present value of perpetuity is the value of stock cash flows is The dividend payment.
Value of Stock = Dividend / Required Rate of return
Value of Stock = $2.5 / 8.5%
Value of Stock = $29.41
Answer: Value of the common stock = $29.41
Explanation:
GIVEN the following ;
Dividend =$2.50
Rate of return (r) = 8.5% 0.085
The question above requires us to calculate the value of common stock which is equivalent to the present value of perpetuity which is the amount of a fixed income or cash flow an individual earns at regular interval for an INDEFINITE period.
RECALL;
PRESENT VALUE of PERPETUITY IS GIVEN BY:
PV of perpetuity = (Dividend or coupon per period ÷ interest rate(r))
PV of perpetuity = ($2.50 ÷ 0.085)
PV of perpetuity = $29.411
PV of perpetuity = $29.41
A certain organization trying to decide where to locate their future factory is considering three locations. they are taking into account three factors: labor costs, currency stability, and proximity to market. using the weights for each factor listed below and the scores achieved by each of the three considered locations, determine which location should be chosen for the new facility based on the weighted factory location model. scores (maximum 100) factor weight site a site b site c labor cost 0.30 90 80 80 currency stability 0.40 80 85 80 proximity to market 0.30 80 80 80 select one:
Answer:
Site A should be chosen for new facility based on weighted factory location model.
Explanation:
Factor Site A Site B Site C
Labor cost 27 24 24
Currency Stability 32 34 32
Proximity to market 24 24 24
83 82 80
Site A should be chosen for new facility based on weighted factory location model.
A group of 4 children and 7 adults are going to the zoo. Child tickets cost $4, and adult tickets cost $8. How much will the zoo tickets cost in all?
Select one:
a. $77
b. $67
c. $59
d. $72
Answer
The answer is D
Because
7 times 8 =56
4 times 4= 16
add them together and you get 72
Glad i could help!
The marginal cost of producing 40 units of a public good is $200. There are two individuals in the society. Person A is willing to pay $80 for 40 units of the public good. If 40 units of the public good are provided, how much must Person B be willing to pay?
Answer:
$120
Explanation:
Yes Person B must be willing to pay an amount that would cover the marginal cost of the product.
Remember, the marginal cost is the cost per unit of a product not the sales cost. Therefore, the total value paid should cover the marginal cost.
Answer:
Person B must be willing to pay $120
Explanation:
Marginal cost = $200
Person A is willing to pay = $80
Marginal cost is the cost which a company incurred for producing one extra unit of goods.
If person A has paid $80, then person B must pay an amount that will cover up for the marginal cost the company incurred.
That mean person B will pay $120 ,
Meaning; $80 +$120 = $200
You have recently noticed that your employees seem to be either requesting or demanding favors from management. More importantly, performance has been flat during that same time. Potentially, which style of management has been employed?
Answer: Indulging
Explanation:
The meaning of indulge is "to treat with unearned favor." In context of the organization, the employees are been allowed or permitted with an unearned favour even though they all seems to be lackadaisical about their attitude to their job. The management knew this yet, still gives room for the employees to keep doing that.
Answer:
Indulging
Explanation:
Indulging is the acts of treating someone with special kindness, often when it is not a good thing.
It means to give someone anything they want and not to mind if they behave badly.
In this case, the style of management employed is indulging because employees have been asking for favour and again performance have been flat during those period of request; so, employees are seeking for some favour when it is not a good thing to give them because of the flat performance that is bad.
Define what is a constant dividend payout ratio policy
Answer:
means payment of a fixed percentage of net earnings as dividends every year.
Explanation: The amount of dividend in such a policy fluctuates in direct proportion to the earnings of the company. The policy of constant pay-out is preferred by the firms because it is related to their ability to pay dividends.
Ceteris paribus GDP most closely measures: a) The rate of change in capital stock. b) Output per worker. c) The total value of all final goods and services produced within a nation's borders in a given year. d) A summary of the world's output.
Answer:
answer C
Explanation:
Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country during a specific period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes.
A foreign company (whose sales will not affect benjamin's market) offers to buy 4,100 units at $7.61 per unit. in addition to variable manufacturing costs, selling these units would increase fixed overhead by $610 and selling and administrative costs by $310. if benjamin accepts the offer, its profits will:
Prime Inc. has come up with a new product development project for which the project manager forms a team. The team includes Cam, Demarco, Tamara, and Aisha from accounting, marketing, manufacturing, and sales divisions respectively. On completion of the project, the team disperses and the four return to their original departments. However, each week, the four meet after work on Thursdays to play darts at a local pub. The type of team formed by the project manager is an example of a(n) _____ team.
The team formed by the project manager is a cross-functional team, typically found in matrix organizations, which is temporary and disbands after the completion of a specific project.
The type of team formed by the project manager is an example of a cross-functional team. This is evident as the team consists of members from various departments within Prime Inc., specifically accounting, marketing, manufacturing, and sales divisions. They come together to achieve a common goal, which is the development of a new product, sharing their unique perspectives and expertise. These temporary teams operate with a clear purpose and disperse once their project goals have been met.
Matrix organizations often utilize cross-functional teams, comprising individuals from different parts of the organizations, on either a temporary or a long-term basis, to address specific business objectives, challenges, or projects. In this case, the formation of the team for new product development reflects the temporary aspect of such teams, designed specifically to accomplish a distinct project or task.
Suppose that the real return from operating factories in Canada rises relative to the real rate of return in the United States. Other things the same, a. this will only increase U.S. net capital outflow. b. this will increases U.S. net capital outflow and decrease Canadian net capital outflow. c. this will only increase Canadian net capital outflow. d. this will decreases U.S. net capital outflow and increase Canadian net capital outflow.
Answer:
B, this will increase U.S. net capital outflow and decrease Canadian net capital outflow
Explanation:
Americans would now want to invest their money in Canadian factories over American factories due to the increase in the real rate of return.
At the same time, Canadians would be less likely to invest in American factories due to how Canadian factories are now more lucrative.
This will only increase U.S. net capital outflow.
The answer is option A.
What increases US net capital outflow?An increase in U.S. net capital outflow increases the supply of dollars and the dollar appreciates. An increase in U.S. net capital outflow increases the demand for dollars and the dollar appreciates. An increase in U.S. net capital outflow increases the supply of dollars and the dollar depreciates.
What is US capital inflow?In economics, capital inflow is the amount of capital coming into a country, for example in the form of foreign investment.
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Anita is conducting a country market assessment and is focusing on four key elements: distribution channels, transportation systems, communication systems, and commerce. In doing so, Anita is evaluating which component of the market assessment?
Answer:
infrastructure
Explanation:
Based on the scenario being described within the question it can be said that Anita is evaluating the infrastructure component. This component refers to the analyzing all of the physical facilities and systems that will be needed for the business within a certain market. This includes distribution and communication channels as well as the warehouses and facilities for the business' operations.
Tim and Sally are taking out a personal loan to pay for their wedding expenses. The loan is for $9,000 and comes with an interest rate of 9.5% compounded monthly. The couple wants to pay the loan off as quickly as possible, keeping the monthly payments below $250. The lender offers repayment plans in 12 month increments. How long of a loan should they request?
Tim and sally should take a loan for 48 months that is for 4 years. As the number of compounding years has to be in multiples of 12, therefore n will be equal to 48 months which is 4 years.
What is the meaning of tenure in an annuity?An amount that is required to be paid at the end of a positive duration to reach a required sum or to pay a loan is called as an annuity. Tenure of the duration wherein the amount received is paid. we have the overall components to discover any of the missing values.
To calculate the N,
[tex]\rm\,P = PMT\times [1 -\frac{\frac{1}{(1+r)^{n} } }{r}]\\[/tex]
Here, P that is principal: $9,000
PMT that is payment is equal to $250
I is interest that is 9.5%, in this case as the payment will be given monthly, therefore i = 9.5/12 = 0.7916%
n is the number of compounding years that has to be calculated in this case.
[tex]\rm\,9,000 = 250\times [1 -\frac{\frac{1}{(1+0.007917)^{n} } }{0.007917}]\\\\\\(0.992145)^n = 1- 0.285012 = 0.714988\\\\\\n = 43.4[/tex]
Thus, As the number of compounding years has to be in multiples of 12, therefore n will be equal to 48 months which is 4 years.
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Which way of preparing for a test does not use the Growth Mindset?
I do better when I practice a lot, so I made flashcards a week before the test.
I know that I'm not great at tests, so I'm not going to worry about studying a lot.
I can do better than my last test, so I'm studying what I don't know yet.
I can always get better, so I went to an extra study session during lunch.
Answer: I know that I'm not great at tests, so I'm not going to worry about studying a lot.
Explanation:
The Growth Mindset is a principle that describes the mindset of believing that one can get better. It is the belief that your basic skills can be horned to be better by constantly working towards it.
The person in Option B who said that they won't study because they know they are not very good at tests does NOT have the growth mindset because they are not interested in improving themselves at all. They have made up their mind that they are not very good at something and so will just leave it as it is. This is called a FIXED MINDSET.
When a firm incorporates more stages of the value chain and those stages bring the firm closer to the final customer, what is it engaging in? A. Value chain B. Forward vertical integration C. Backward vertical integration D. Corporate strategy E. Vertical integration
Answer:
c backward vertical integration.
I am thinking about decentralizing, allowing employees lower in the organization to make more decisions. When does decentralizing usually make sense?" Check all that apply.
A) When allowing employees to develop their decision-making and other strategic skills will be of value
B) When activities can be done more efficiently on a larger scale
C) When conditions are changing rapidly and it's desirable for employees with the most information about customers to make decisions quickly
D) When different areas of the company do not agree on which course of action to take and require coordination
The Decentralization should align with an organization's strategic objectives and the specific needs of its business model the decision to decentralize or centralize should be based on a careful assessment of these factors to ensure it enhances overall performance and agility.
Decentralizing can be a strategic choice for an organization under various circumstances.
Here are the scenarios in which decentralizing usually makes sense:
A) When allowing employees to develop their decision-making and other strategic skills will be of value:
- Decentralization can provide employees with opportunities to grow, enhance their skills, and take ownership of their work.
It allows them to become more self-reliant and responsible for their decisions, which can be valuable for personal and professional development.
C) When conditions are changing rapidly and it's desirable for employees with the most information about customers to make decisions quickly:
- In rapidly changing environments, decentralization can enable quicker responses to customer needs and market dynamics.
Employees closer to customers often have better insights into their preferences and can adapt more efficiently.
D) When different areas of the company do not agree on which course of action to take and require coordination:
- Decentralization can help address disagreements and conflicts within different areas of a company.
By allowing those responsible for specific functions or regions to make decisions independently, it can reduce the need for centralized coordination and expedite decision-making.
B) When activities can be done more efficiently on a larger scale:
- Decentralization may not be the best choice when activities benefit from economies of scale or standardization.
In such cases, centralization might be more efficient as it allows for uniform processes and resource optimization.
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A competitive firm has been selling its output for $10 per unit and has been maximizing its profit. Then, the price rises to $14, and the firm makes whatever adjustments are necessary to maximize its profit at the now-higher price. Once the firm has adjusted, its
a. marginal revenue is lower than it was previously.
b. marginal cost is lower than it was previously.
c. quantity of output is higher than it was previously
d. All of the above are correct.
Answer:
a. marginal revenue is lower than it was previously.
Explanation:
According to the Law of Supply states, when the price of a product or service increases, all other factors are equal, the quantity of products or services offered by the suppliers increases, and vice versa. In other words, if a good price goes up, suppliers will try to increase their profits by offering more goods.so correct option is a. marginal revenue is lower than it was previously.
Final answer:
When the market price increases, a perfectly competitive firm's marginal revenue increases, prompting the firm to adjust output. The firm will increase production to where the new higher price equals marginal cost, usually resulting in a higher quantity of output than before. Option C
Explanation:
For a perfectly competitive firm, changes in the market price can significantly affect its profit-maximizing behavior. When the price at which the firm sells its output increases, the firm's marginal revenue (MR) also increases since MR in perfect competition is equal to the price of the product.
To maximize profits, the firm will adjust its output quantity to the point where this new higher price (increased MR) equals the marginal cost (MC) of production, which is the cost of producing one more unit. This usually results in higher production until MR equals MC again.
Given the scenario in the question where the price per unit increases from $10 to $14, the perfectly competitive firm will make adjustments to maximize profit at the new price level. As a result, the firm's quantity of output is expected to be higher than it was previously since the higher price makes more units profit-maximizing.
Miley, a single taxpayer, plans on reporting $31,375 of taxable income this year (all of her income is from a part-time job). She is considering applying for a second part-time job that would give her an additional $10,900 of taxable income. By how much will the income from the second job increase her tax liability
Answer:$1,825
Explanation:
Based on the single tax rate schedule, of the additional $10,900 of taxable income, $9,000 is taxed at 15% (the increase $31,375 to $42,275) and the remaining $1,900 ($38,650 minus $37,650) is taxed at 25%. To summarize, ($9,000 × 15%) + ($1,900 × 25%)
= $1,350+$475
=$1,825
The income tax from second job increases her tax liability by $1,825.
One bag of flour is sold for $1.00 to a bakery, which uses the flour to bake bread that is sold for $3.00 to consumers. A second bag of flour is sold to a consumer in a grocery store for $2.00. Taking these three transactions into account, what is the effect on GDP?
Answer:
c. GDP increases by $5.00.
Explanation:
Data given in the question
Sale value of one bag of flour = $1
Sale value to bake the bread = $3
And, the second bag of flour sale value = $2
So by considering the above information, the effect on GDP is
Increase in GDP is
= Sale value of one bag of flour + (Sale value to bake the bread - Sale value of one bag of flour) + the second bag of flour sale value
= $1 + ($3-$1) + $2
= $5
Randy complained to his boss, Maryann, that he received the same bonus this quarter as everyone else, despite the longer hours he had worked and his higher level of experience, production, and efficiency. If Maryann can't change the bonus, she should expect that Randy might respond in any of the following ways except:
A) quit
B) maintain his level effort
C) experience high job satisfaction
D) show up to work on time every day
E) working harder
Answer:
E. Working harder.
Explanation:
Motivation is getting people to work in order to accomplish a set goal. It is also the process of bringing out the best in people by making them know the reason for motivating them, which is premised on their needs not yet fulfilled.
It is the duty of manager to influence his or surbodinate positively in terms of being productive in order to improve their capacity and efficiency. A well motivated employee will have on the job satisfaction and individual self development.
Employees can be motivated through payment of incentives like bonus for working extra hours or for working on weekend which is outside of the normal working days.There is also affiliation motivation, which is a desire to socially relate with people and achievement motivation, which is a desire to purse a goal and achieve it.
As in the case above, Randy might gnore his feeling of not being adequately rewarded and work harder in next quarter.
: If the estimate of the useful life of equipment is modified, this change requires A : that no change be made to the amount of periodic depreciation recorded in subsequent years. B : that income for the current year be increased. C : a retroactive change in the amount of periodic depreciation recognized in previous years. D : that the amount of periodic depreciation be changed in the current and future years.
Answer:
D
Explanation:
that the amount of the periodic depreciation be changed in the current year and in future years
Answer:
D : that the amount of periodic depreciation be changed in the current and future years
Explanation:
The accounting standard under IFRS, IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors proviede guidance on accounting policies, accounting for changes in estimates and reflecting corrections of prior period errors.
According to the standard, a change in accounting estimates is applied progressively.
The change in the estimated useful life of an asset is a change in accounting estimate. As such, this is applied in the current and future years in the estimation of depreciation.
Less popular open source products are not likely to attract the community of users and contributors necessary to help improve these products over time. This situation reiterates the belief that _____ are a key to success.
A. proprietary products
B. brand strategies
C. network effects
D. technology expenses
E. advertising campaigns
Answer:
C. network effects
Explanation:
The network effect is a phenomenon that explains that the number of users can increase or decrease the value of a system. The best example of the network effect is the internet and E-commerce websites. At first, there were hardly any clients yet with time, the estimation of web expanded because of increase in several clients.
_____ occurs when an advertiser underwrites the total cost of a program.
A. Market aggregation
B. Full-spot participation
C. Sponsorship
D. Narrowcasting
E. Television customization