Answer:
in its best case scenario:
selling price = $2,900 + 15% = $3,335 per unit
variable costs = $580 - 15% = $493 per unit
fixed costs = $5.2 million - 15% = $4.42 million
quantity = 88,000 + 15% = 101,200 units
estimated profits in best case scenario = $337,502,000 - $49,891,600 - $4,420,000 = $283,190,400
in its worst case scenario:
selling price = $2,900 - 15% = $2,465 per unit
variable costs = $580 + 15% = $667 per unit
fixed costs = $5.2 million + 15% = $5.98 million
quantity = 88,000 - 15% = 74,800 units
estimated profits in best case scenario = $184,382,000 - $49,891,600 - $5,980,000 = $128,510,400
The firm is still profitable because the contribution margin is huge even in the worst case scenario. In he best case scenario the break even point is 1,556 units, while the break even point in the worst case scenario is 3,326 units. It's a very low break even point considering total expected sales.
Culver Corporation purchased machinery on January 1, 2022, at a cost of $288,000. The estimated useful life of the machinery is 4 years, with an estimated salvage value at the end of that period of $33,800. The company is considering different depreciation met Prepare separate depreciation schedules for the machinery using the straight-line method, and the declining-balance method using double the straight-line rate.
Answer:
Please Kindly check the attach picture, the full working is there.
Explanation:
Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $937. Selected data for the company’s operations last year follow:
Units in beginning inventory 0
Units produced 11,000
Units sold 8,000
Units in ending inventory 3,000
Variable costs per unit:
Direct materials $ 250
Direct labor $ 440
Variable manufacturing overhead $ 55
Variable selling and administrative $ 15
Fixed costs:
Fixed manufacturing overhead $ 900,000
Fixed selling and administrative $ 690,000
Required:
1.
Assume that the company uses absorption costing. Compute the unit product cost for one gamelan.
2.
Assume that the company uses variable costing. Compute the unit product cost for one gamelan.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Units produced 11,000
Variable costs per unit:
Direct materials $ 250
Direct labor $ 440
Variable manufacturing overhead $ 55
Fixed costs:
Fixed manufacturing overhead $ 900,000
The difference between absorption and variable costing is that the last one includes the fixed manufacturing overhead in its product costs.
1) Absorption costing:
Unitary fixed manufacturing overhead= 900,000/11,000= $81.82
Unit product cost= 250 + 440 + (55+81.82)= $826.82
2) Variable costing:
Unit product cost= 250 + 440 + 55= $745
Effie Company uses a periodic inventory system. Details for the inventory account for the month of January, 2021 are as follows: Units Per unit price Total Beg. Balance, 1/1/21 200 $5.00 $1,000 Purchase, 1/15/21 100 5.30 530 Purchase, 1/28/21 100 5.50 550 An end of the month (1/31/21) inventory showed that 160 units were on hand. If the company uses FIFO, what is the value of the ending inventory? Group of answer choices $868 $848 $800 $832
Answer:
Ending inventory : $868
Explanation:
FIFO (First-In-First-Out) is a method of inventory valuation where the inventory that is received first is sold first. In other words, the earliest inventory is used first. This is common for perishable inventory such as fruits and vegetables which if not used fast, will be wasted.
01/01/21 : Beginning Inventory : 200 units x $5 = $1000
01/15/21 : Purchases : 100 units x $5.3 = $530
01/28/21 : Purchases : 100 units x $5.5 = $550
Total units = 200 + 100 + 100 = 400 units
Units sold = Total inventory available for sale - ending inventory
= 400 - 160 = 240 units.
COGS:
Beginning Inventory : 200 units x $5 = $1000
Purchases : 40 units x $5.3 = $212
Cost of goods sold : $1000 + $212 = $1212
Ending inventory:
Purchases : (100 - 40) units x $5.3 = $318
Purchases : 100 units x $5.5 = $550
Ending inventory : $318 + $550 = $868
On September 1, 2021, Southwest Airlines borrows $40.6 million, of which $9.2 million is due next year. Show how Southwest Airlines would record the $40.6 million debt on its December 31, 2021, balance sheet
Answer:
see below
Explanation:
Liabilities are recorded on the left-hand side of the balance sheet. They are classified as current and long term liabilities. Current liabilities are due within one year, and long term liabilities are payable in future financial periods
Liabilities
Current liabilities
Accounts payable
Short term loans $31.4
Total current liabilities $31.4
Long liabilities
Long term debts $9.2
Total long liabilities $9.2
Total liabilities $40.6
ssignment Attempts: Score: / 3 3. Problems and Applications Q1 In 2012, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 142,496,000 were employed, 12,506,000 were unemployed, and 88,310,000 were not in the labor force. What is the adult population? 243,312,000 155,002,000 142,496,000 12,506,000 The size of the labor force is , and the labor force participation rate is . What is the unemployment rate? 8.8% 57.0% 8.1% 5.1%
Answer and Explanation:
The computation is shown below:
1. Total adult population is
= Employed + Unemployed + Not in labor force
= 142,496,000 + 12,506,000 + 88,310,000
= 243,312,000
2. The size of the labor force is
= Employed + Unemployed
= 142,496,000+ 12,506,000
= 155,002,000
3. Labor force participation rate is
= Labor force ÷ adult population × 100
= 155,002,000 ÷ 243,312,000 × 100
= 63.705 %
4. Unemployment rate is
= Unemployed ÷ labor force × 100
= 12,506,000 ÷ 155,002,000 × 100
= 8.06 % or 8.1% (approx)
We simply applied the above formulas
Consider two firms facing the demand curve P = 50 - 5Q, where Q = Q1 + Q2. The firms’ cost functions are C1(Q1) = 20 + 10Q1 and C2(Q2) = 10 + 12Q2.
a. Suppose both firms have entered the industry. What is the joint profit-maximizing level of output? How much will each firm produce? How would your answer change if the firms have not yet entered the industry?
b. What is each firm’s equilibrium output and profit if they behave noncooperatively? Use the Cournot model. Draw the firms’ best-responses (reaction curves) and show the equilibrium
The joint profit-maximizing level of output is where marginal cost equals marginal revenue. In the Cournot model, equilibrium output and profit are determined by the intersection of the firms' reaction functions. If the firms have not yet entered the industry, there would be no output or profit.
Explanation:The joint profit-maximizing level of output for the two firms occurs when they collectively produce at a level where marginal cost equals marginal revenue. To find this, we need to first find the marginal revenue (MR) curve from the demand curve, and then set each firm's marginal cost (MC) equal to MR to solve for the profit-maximizing quantities Q1 and Q2.
For the Cournot model, each firm's equilibrium output and profit are found by setting their respective reaction function equal to the other firm's output level and then solving iteratively until an equilibrium is reached.
To depict this graphically, the firms' reaction functions are plotted on a two-dimensional plane, with each firm's output level on one axis. The equilibrium point is where the two reaction curves intersect.
If the firms have not yet entered the industry, there would be no output and hence no profit. Their decision to enter the industry would depend on the expected profits after entry, taking into consideration the costs of entry and exit.
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In joint profit-maximizing behavior, each firm produces 5 units, leading to a total output of 10. In the Cournot model where firms behave non-cooperatively, the firms' total output is 7.8 units with individual productions of 4 and 3.8 units respectively.
To address the question, we analyze both cooperative and non-cooperative behaviors of the two firms in the given market.
a. Joint Profit-Maximizing Level of Output
The market demand curve is given by P = 50 - 5Q. The total quantity produced by both firms is Q = Q1 + Q2. Firms share profits and costs, so their total cost is the sum of individual costs: C(Q) = C1(Q1) + C2(Q2) = (20 + 10Q1) + (10 + 12Q2).
Total Revenue (TR) = P * Q = (50 - 5Q) * Q = 50Q - 5Q^2
Total Cost (TC) = 20 + 10Q1 + 10 + 12Q2 = 30 + 10Q1 + 12Q2
To find the profit-maximizing output, we calculate Total Profit (π)
π = TR - TC = 50Q - 5Q^2 - 30 - 10Q1 - 12Q2
Differentiate π with respect to Q1 and Q2 and set to zero:
dπ/dQ1 = 50 - 10Q - 10 = 0
dπ/dQ2 = 50 - 10Q - 12 = 0
Solving these, we get equilibrium outputs: Q1 = Q2 = 5
Total output: Q = Q1+Q2 = 10
b. Non-Cooperative Behavior: Cournot Model
Assuming firms behave non-cooperatively, we use the Cournot model to find each firm’s reaction functions.
The reaction functions are derived from each firm's maximization problem:
Firm 1’s problem: Max π1 = (50 - 5(Q1 + Q2))Q1 - 20 - 10Q1
Firm 2’s problem: Max π2 = (50 - 5(Q1 + Q2))Q2 - 10 - 12Q2
Differentiating and equating to zero:
Firm 1: dπ1/dQ1 = 50 - 10Q1 - 5Q2 - 10 = 0 → Q1 = (40 - 5Q2) / 10
Firm 2: dπ2/dQ2 = 50 - 5Q1 - 5Q2 - 12 = 0 → Q2 = (38 - 5Q1) / 10
Solving these reaction functions simultaneously gives equilibrium outputs: Q1 = 4, Q2 = 3.8
Total output: Q = Q1 + Q2 = 7.8
Conclusion
In a joint profit-maximizing scenario, each firm produces 5 units, leading to a total output of 10 units. In non-cooperative Cournot equilibrium, the firms' total output is 7.8 units with individual productions of 4 and 3.8 units respectively.
How does the level of risk affect an asset's desirability? A. They are directly related - the higher the level of risk, all else equal, the more attractive the asset. B. They are inversely related - the higher the level of risk, all else equal, the less attractive the asset. C. They are unrelated - an asset's level of risk is unrelated to its desirability.
Answer:
The correct t answer is A. They are directly related - the higher the level of risk, all else equal, the more attractive the asset.
Explanation:
When the risk associated aged with an asset is high, usually the reward derived from.such an asset tends to be higher as well. This make the asset more attractive and desirable.
Your uncle is about to retire, and he wants to buy an annuity that will provide him with $75,000 of income a year for 20 years, with the first payment coming immediately at the beginning of the month. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today? Round to the nearest dollar.
Answer:
It cost $915,166.69
Explanation:
R=75,000
i=j/m, j=0.0525, m=1 - annually
i=0.0525
n=mt
n=20
An=R[1-(1+i)^-n] : i
An=(75,000x[1-(1+0.0525)^-20]) : 0.0525
An=$ 915,166.69
The December 31, Year 1, balance sheet for Deen Company showed total stockholders’ equity of $73,000. Total stockholders’ equity increased by $42,500 between December 31, Year 1, and December 31, Year 2. During Year 2, Deen Company acquired $10,700 cash from the issue of common stock. Deen Company paid a $9,500 cash dividend to the stockholders during Year 2.
Required Determine the amount of net income or loss Deen reported on its Year 2 income statement.
Answer:
$41,300
Explanation:
The computation of the amount of the net income or loss reported is shown below:
Equity increased during the year $42,500
Less: Issue of shares acquired $(10,700)
Add: cash Dividends paid $9,500
Net income for the year $41,300
by adding the dividend and deducting the issued of shares acquired to the equity increased we can get the net income and the same is shown above
Contingency money is:
a. Valued at a higher rate than non-contingency money when determining project costs.
b. The money, that must be received before any project work can begin.
c. Not usually a part of the activity-based costing process.
d. Money that is spent first to lock-in all contract guarantees.
Dome Metals has credit sales of $270,000 yearly with credit terms of net 90 days, which is also the average collection period. Assume the firm adopts new credit terms of 2/15, net 90 and all customers pay on the last day of the discount period. Any reduction in accounts receivable will be used to reduce the firm's bank loan which costs 12 percent. The new credit terms will increase sales by 20% because the 2% discount will make the firm's price competitive.
a. If Dome earns 15 percent on sales before discounts, what will be the net change in income if the new credit terms are adopted? (Use a 360-day year.)
Answer:
Net change in income = $8,100
Explanation:
Given:
Current credit sales= $270,000 per year.
Average collection period= 90 days
A 2/15, net 90 means a 20℅ discount if payment is made within 15 days.
Which means new credit terms increase will be
(90/15) * 20℅ = 120℅
We now find the following:
•Revised sales will be = (current sales * new credit terms increase)
= $270,000 * 120℅ = $324,000
•Increase in sales = ( new sales - current sales)
=$324,000 - $270,000 = $54,000
•Profit increase = (profit percent * Increase in sales)
= 15℅ * $54,000 = $8,100
• Average receivable under existing policy =
= $270,000 * (90/360) = $67,500
• Average under new policy =
$325,000 * (15/360) = $13,500
• Receivable reduction= $67,500 - $13,500 = $54,000
• Interest savings
= $54,000 * 12℅ = $6,480
• Cost of discount =
$324,000 * 2℅ = $6,480
Therefore the net change in income if new credit terms are adopted will be = (increase in profit + interest savings - cost of discount)
= $8,100+$6,480-$6,480
= $8,100
The net increase in income, if the new credit terms are adopted, would be $69,120. This is computed by calculating the net income after discounts and then adding the interest saved due to a reduced bank loan.
Explanation:The first thing to note is that the new credit terms increase sales by 20%. Thus, credit sales increase to $270,000 * 1.20 = $324,000. The gross income from the sales is then $324,000 * 15% = $48,600.
Next, we calculate the cost of the discount. All customers are taking the discount, so we know that 2% of total credit sales will be deducted. This is $324,000 * 2% = $6,480.
Subtracting the discount cost from the gross income gives us the net earnings after discounts of $48,600 - $6,480 = $42,120.
Finally, we calculate the savings from repaying part of the bank loan with the reduction in accounts receivable. The total amount that is freed up by the shorter average collection period is $270,000 / 90 days * (90 - 15) days = $225,000. The firm is saving $225,000 * 12% = $27,000 on loan interest.
Adding the savings from interest reduction to the net income, we have $42,120 + $27,000 = $69,120. This will be the net change in income if the new credit terms are adopted.
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Vertis Corporation is interested in cutting the amount of time between when a customer places an order and when the order is completed. Details for the first quarter of the year are provided here. Choose the correct answer from the options provided. Days Wait time 12 Inspection time 0.6 Process time 6 Move time 0.4 Queue time 8 Knowledge Check 01 Compute the manufacturing cycle efficiency (MCE).
Answer:
40%
Explanation:
For computing the manufacturing cycle efficiency, first we have to compute the throughput time which is shown below:
Throughput time = Process time + Inspection time + Move time + Queue time
= 6 + 0.6 + 0.4 + 8
= 15
Now
Manufacturing cycle efficiency (MCE) is
= Value added time (process time) ÷ Throughput time
= 6 ÷ 15
= 40%
We simply applied the above formulas so that the manufacturing cycle efficiency (MCE) could come
On December 31, 2015, Beta Company had 340,000 shares of common stock issued and outstanding. Beta issued a 6% stock dividend on June 30, 2016. On September 30, 2016, 29,000 shares of common stock were reacquired as treasury stock. What is the appropriate number of shares to be used in the basic earnings per share computation for 2016?a. 353,150.b. 391,140.c. 367,650.d. 360,400.
Answer:
A. 353,150
Explanation:
To get The appropriate number of shares to be used in the basic earnings per share for 2016,
You subtract the stock that was acquired in September from the Beta company shares.
Thus
(340,000*1.06) - (29,000*3/12) = 353,150.
353,150 is the number of shares to be used for computing September 2016 shares.
Becton Labs, Inc., produces various chemical compounds for industrial use. One compound, called Fludex, is prepared using an elaborate distilling process. The company has developed standard costs for one unit of Fludex, as follows:
Standard Quantity
or Hours Standard Price
or Rate Standard Cost
Direct materials 2.50 ounces $ 22.00 per ounce $ 55.00
Direct labor 0.90 hours $ 16.00 per hour 14.40
Variable manufacturing overhead 0.90 hours $ 2.00 per hour 1.80
Total standard cost per unit $ 71.20
During November, the following activity was recorded related to the production of Fludex:
Materials purchased, 14,000 ounces at a cost of $289,800.
There was no beginning inventory of materials; however, at the end of the month, 4,050 ounces of material remained in ending inventory.
The company employs 26 lab technicians to work on the production of Fludex. During November, they each worked an average of 150 hours at an average pay rate of $15.00 per hour.
Variable manufacturing overhead is assigned to Fludex on the basis of direct labor-hours. Variable manufacturing overhead costs during November totaled $5,000.
During November, the company produced 3,900 units of Fludex.
Required:
1. For direct materials:
a. Compute the price and quantity variances.
b. The materials were purchased from a new supplier who is anxious to enter into a long-term purchase contract. Would you recommend that the company sign the contract?
2. For direct labor:
a. Compute the rate and efficiency variances.
b. In the past, the 26 technicians employed in the production of Fludex consisted of 6 senior technicians and 20 assistants. During November, the company experimented with fewer senior technicians and more assistants in order to reduce labor costs. Would you recommend that the new labor mix be continued?
3. Compute the variable overhead rate and efficiency variances.
This detailed answer provides calculations for materials, labor, and variable overhead variances along with recommendations based on the results.
1. For direct materials:
a. The total materials price variance is $700 U and the total materials quantity variance is $3,450 F.b. Considering the variances, the company should analyze the quality of materials provided by the new supplier before signing a long-term contract.2. For direct labor:
a. The total labor rate variance is $360 U and the total labor efficiency variance is $780 F.b. The company should carefully evaluate the impact of changing the labor mix to decide if it should continue.3. Variable overhead:
The total variable overhead rate variance is $800 F, and the total variable overhead efficiency variance is $300 U.
The market value of Fords' equity, preferred stock, and debt are $ 7 billion, $ 2 billion, and $ 15 billion, respectively. Ford has a beta of 1.2, the market risk premium is 8%, and the risk-free rate of interest is 4%. Ford's preferred stock pays a dividend of $ 3 each year and trades at a price of $ 25 per share. Ford's debt trades with a yield to maturity of 8%. What is Ford's weighted average cost of capital if its tax rate is 35%?
Answer:
Ford's weighted average cost of capital is 8.22 %
Explanation:
Weighted Average Cost of Capital (WACC) is the minimum return that the company expect from a project. It shows the risk of the company.
Calculation of WACC
WACC = Cost of equity + Cost of preferred stock + Cost of debt
Capital Source Market Values Weight Cost Total Cost
equity $ 7 billion 29.17% 13.6% 3.97 %
preferred stock $ 2 billion 8.33% 12% 1.00 %
debt $ 15 billion 62.50% 5.2 % 3.25%
Total $ 24 billion 8.22 %
Cost of equity = Risk free rate + Beta × Risk Premium
= 4% + 1.2 × 8%
= 13.6%
Cost of preferred stock = Dividend/Market Price
= $ 3/ $ 25 × 100
= 12%
Cost of debt = interest × (1- tax rate)
= 8% × (1-0.35)
= 5.2 %
ABC Co. and XYZ Co. are identical firms in all respects except for their capital structure. ABC is all equity financed with $480,000 in stock. XYZ uses both stock and perpetual debt; its stock is worth $240,000 and the interest rate on its debt is 9 percent. Both firms expect EBIT to be $58,400. Ignore taxes. The cost of equity for ABC is _____ percent, and for XYZ it is ______ percent.
Answer:
The cost of equity for ABC is 12.17 percent, and for XYZ it is 15.33 percent.
Explanation:
Since we are to ignore tax for the two companies, ABC will pay no interest since it is all equity financed. Therefore, we have.
ABC Co. cost of equity = $58,400 ÷ $480,000 = 0.1217, or 12.17%
XYZ has $240,000 equity and $240,000 debt, it has to pay interest on debt. We can therefore calculate its cost of equity as follows:
XYZ interest on loan = $240,000 × 9% = $21,600
XYZ Profit after interest = $58,400 - $21,600 = $36,800
XYZ cost of equity = $36,000 ÷ 240,000 = 0.1533, or 15.33%
Final answer:
ABC Co., which is all equity-financed, has a cost of equity of 12.167%. XYZ Co., with a mix of debt and equity, has a higher cost of equity at 15.333%, due to the interest it pays on its debt.
Explanation:
The subject of this question is capital structure and its impact on the cost of equity in the fields of Business and Finance. To find the cost of equity for both ABC Co. and XYZ Co., we need to calculate their expected returns based on their structures. ABC Co. is financed entirely by equity and is expected to have an EBIT of $58,400. This amount is also the net income since there are no taxes or interest payments to account for. The cost of equity for ABC Co. would be the return on equity, which is calculated by dividing the EBIT by the total equity, so for ABC Co., it's $58,400 / $480,000, which equals 0.12167 or 12.167%.
XYZ Co., on the other hand, has both debt and equity. The firm pays interest on its debt, so the earnings available to shareholders (net income) are the EBIT minus the interest expenses. With 9% interest on the $240,000 debt, the annual interest payment would be $21,600. This leaves $58,400 - $21,600 = $36,800 as the earnings available to equity holders. The cost of equity for XYZ Co. is then $36,800 / $240,000, which equals 0.15333 or 15.333%. Thus, the cost of equity for ABC Co. is 12.167 percent, and for XYZ Co. it is 15.333 percent.
Assume Chester Corp. is downsizing the size of their workforce by 20% (to the nearest person) next year from various strategic initiatives. Chester is planning to conduct exit interviews to learn more about how they can improve in processes and increase productivity. The exit interviews are estimated to cost $100 per employee in additional to normal separation costs of $5000. How much will the company pay in separation costs if these exit interviews are implemented next year?
Calculate the total separation costs by first determining the number of employees to be let go, then determining the cost per employee (which includes separation and exit interview costs), and finally multiplying the two.
Explanation:To calculate the total amount of separation costs Chester Corp. should be expecting to pay we first need to establish the number of employees that are due to leave. To do that we multiply the number of current employees by the planned workforce reduction rate of 0.2 (which equals to 20%).
Once we found the number of employees leaving, we can calculate the costs per employee, which are the sum of the normal separation costs of $5000 and the exit interview costs of $100.
Lastly, we multiply the number of employees leaving by the calculated costs per employee. The result is the expected total separation costs with the implemented exit interviews.
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Pina Colada Corp. receives $180,000 when it issues a $180,000, 9%, mortgage note payable to finance the construction of a building at December 31, 2019. The terms provide for annual installment payments of $30,000 on December 31. Prepare the journal entries to record the mortgage loan and the first two payments
Answer and Explanation:
The Journal entry is shown below:-
Dec 2019 Cash Dr, $180,000
To Mortgage Payable $180,000
(Being mortgage loan taken is recorded)
Dec 2020 Interest expenses Dr,$16,200
Mortgage Payable Dr, $13,800
To Cash $30,000
(Being first installment payment is recorded)
Dec 2021 Interest expenses Dr,$14,742
Mortgage Payable Dr, $15,258
To Cash $30,000
(Being second installment payment is recorded)
Working note:-
For 2020 Interest expenses = $180,000 × 9%
= $16,200
Mortgage payable = $30,000 - $16,200
= $13,800
For 2021 Interest expenses = ($180,000 - $16,200) × 9%
= $14,742
Mortgage payable = $30,000 - $14,742
= $15,258
Using Economic Value Added (EVA) to calculate residual income, the cost of capital employed is a.the standard percentage cost of capital multiplied by the average capital employed. b.the standard percentage cost of capital multiplied by the total capital employed. c.the actual percentage cost of capital multiplied by the average capital employed. d.the actual percentage cost of capital multiplied by the total capital employed.
Answer:
A. The standard percentage cost of capital multiplied by the average capital employed.
Explanation:
In corporate finance and economics and as a part of fundamental analysis, The Economic Value Added (EVA) is defined as an estimate of a firm's economic profit, or the value created in excess of the required return of the company's shareholders. EVA is the net profit less the capital charge ($) for raising the firm's capital.
Therefore it is the the standard percentage cost of capital when multiplied by the average capital that was used.
The J. Dawson, Capital account has a credit balance of $1,200 before closing entries are made. If total revenues for the year are $65,200, total expenses $49,800, and withdrawals are $2,400, what is the ending balance in the J. Dawson, Capital account after all closing entries have been made?\
Answer:
The answer is given below;
Explanation:
Capital-Opening $1,200
Revenues for the year $65,200
Expenses ($49,800)
Withdrawals ($2,400)
Closing balance of capital $14,200
Based on the revenue, expenses, and withdrawals, we can calculate that the ending balance on this account is $14,200
The ending balance on J. Dawson's account as a capital contributor is found as:
= Opening balance + Revenue - Expenses - Withdrawals
Solving would give:
= 1,200 + 65,200 - 49,800 - 2,400
= $14,200
In conclusion, the ending balance would be $14,200
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Who would be more likely to join the cross-country team (individual sport) instead of the volleyball team (team sport) and want to be captain of the team rather than just be a member?
Introvert with a high need for power
Introvert with a slow need for power
Introvert with a medium need for power
None of the Above
Answer: Introvert with a high need for power
Explanation: An Introverted individual is one who is considered more thoughtful than social, with a personality more inwardly than outwardly directed and as one who often prefers to have time in non-social situations. Given this, an introvert with a high need for power, however, would be more likely to join the cross-country team, which is an individual sport, rather than the volleyball team (team sport) and want to be captain of the team rather than just be a member.
Answer:
The correct answer is letter "A": Introvert with a high need for power.
Explanation:
Cross-county is a sport that consists of groups of people running, riding, or skiing together in the open countryside instead of on a reglementary track. People practicing this sport are evaluated by their individual performance. It will be a sport suitable for introverts, who are people who prefer to work on their own.
If the introvert individual would volunteer to lead the cross-country team, that person will show his or her need for power. Introverts usually have poor interpersonal skills, thus, the need for leading a team by one of those people is nothing more than a signal for his or her need for power.
The following three defense stocks are to be combined into a stock index in January 2016 (perhaps a portfolio manager believes these stocks are an appropriate benchmark for his or her performance). Assume the index is scaled by a factor of 10 million; that is, if the total value of all firms in the market is $5 billion, the index would be quoted as 500. Price Shares (millions) 1/1/16 1/1/17 1/1/18 Douglas McDonnell 190 $ 105 $ 111 $ 124 Dynamics General 450 68 64 78 International Rockwell 330 97 86 102 a. Calculate the initial value of the index if a value-weighting scheme is used.
Answer:
Index Value = $8256.00 ± 1
Explanation:
Given
Price
Shares (millions) ----- 1/1/16 ----- 1/1/17 ----- 1/1/18
Douglas McDonnell 190 $ 105 $ 111 $ 124
Dynamics General 450 68 64 78
International Rockwell 330 97 86 102
Scale factor = 10 million
The index value using the weighing scheme is the value at 1/1/16
This is calculated by taking into consideration, only Colin 1/1/16.
This is given as;
Price
Shares (millions) ----- 1/1/16
Douglas McDonnell 190 $ 105
Dynamics General 450 68
International Rockwell 330 97
We're left with 2 columns; the shares and the 1/1/16 column
The index value is calculated by multiplying the shares column by the date column divided by the scale factor
So, index value = ((190 * $105) + (450 * $68) + (330 * $97))/10
Index Value = $8256.00 ± 1
Answer:
8,256
Explanation:
shown in the picture attached
On March 31, the end of the first year of operations, Barnard Inc., manufactured 4,300 units and sold 3,700 units. The following income statement was prepared, based on the variable costing concept: Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales $888,000 Variable cost of goods sold: Variable cost of goods manufactured $494,500 Inventory, March 31 (69,000) Total variable cost of goods sold (425,500) Manufacturing margin $462,500 Total variable selling and administrative expenses (107,300) Contribution margin $355,200 Fixed costs: Fixed manufacturing costs $227,900 Fixed selling and administrative expenses 70,300 Total fixed costs (298,200) Operating income $57,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing $ Absorption costing $
Answer:
Cost of Goods Manufactured = $115 per unit
Fixed Manufacturing Overhead = $53 per unit
Absorption product cost per unit = $168
Explanation:
given data
manufactured = 4,300 units
Variable Costing = $494,500
Fixed manufacturing costs = $227,900
solution
so here we get Cost of Goods Manufactured per unit that is
Cost of Goods Manufactured = $494,500 ÷ 4,300
Cost of Goods Manufactured = $115 per unit
and
now we get Fixed Manufacturing Overhead Per Unit will be
Fixed Manufacturing Overhead = $227,900 ÷ 4,300
Fixed Manufacturing Overhead = $53 per unit
and
now we get Variable Product cost Per Unit that is
Variable Product cost = Cost of Goods Manufactured per Unit = $115
so
Absorption product cost per unit = $115 + $53
Absorption product cost per unit = $168
The unit cost of goods manufactured based on the variable costing concept is $115 per unit, and based on the absorption costing concept, it is $168 per unit for Barnard Inc.
To determine the unit cost of goods manufactured for Barnard Inc., based on the variable costing concept, we divide the total variable cost of goods manufactured by the number of units manufactured. For the absorption costing method, we add fixed manufacturing costs to the variable costs before dividing by the number of units manufactured.
Applying this to Barnard Inc.:
Variable Costing Unit Cost:Question Help Lariat Lariat Co. budgets production of 120 comma 000 120,000 units in the next year. Lariat Lariat's CFO expects that each unit will take 14 14 hours to produce at an hourly wage rate of $ 8 $8 per hour. If factory overhead is applied to direct labor hours at $ 9 $9 per hour, the budget for factory overhead will total: A. $ 13 comma 440 comma 000 $13,440,000 B. $ 15 comma 120 comma 000 $15,120,000 C. $ 8 comma 640 comma 000 $8,640,000 D. $ 28 comma 560 comma 000 $28,560,000
Answer:
B. $ 15 comma 120 comma 000 $15,120,000
Explanation:
The computation of the factory overhead is shown below:
= Number of production units in the next year × required number of hours to produced × factory overhead rate per hours
= 120,000 units × 14 hours × $9 per hour
= $15,120,000
By multiplying the number of units produced with the required number of hours and factory overhead rate per hour we can get the factory overhead amount
Cullumber Company Ltd. publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2017, Cullumber sells 8,400 subscriptions for cash, beginning with the December issue. Cullumber prepares financial statements quarterly and recognizes subscription revenue at the end of the quarter. The company uses the accounts Unearned Subscription Revenue and Subscription Revenue. The company has a December 31 year-end Prepare the entry in November for the receipt of the subscriptions.
Answer:
Debit Cash account $16,800
Credit Unearned Subscription Revenue $16,800
Explanation:
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
Debit Cash account and Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.
Total amount received
= $20 * 8400
= $16800
Jim and Lisa own a dog-grooming business in Champlain, New York, called JL Groomers. There are many buyers and many sellers in the dog-grooming service market. JL Groomers experiences normal cost curves, with the marginal cost (MC) curve crossing average variable cost (AVC) at $14 and average total cost (ATC) at $22.
JL Groomers will always shut down if the market price is:
A. above $14
B. $22
C. between $14 and $22
D. $14
E. below $14.
Answer:
E. below $14.
Explanation:
The decision for a firm is to shut down when price lower than average variable cost.
Since firms maximizes profit when MC is equal to the market price (P), it implies that MC = P.
Since JL Groomers experiences normal cost curves, with the marginal cost (MC) curve crossing average variable cost (AVC) at $14, this implies that MC = P = AVC at this point.
By implication, JL Groomers will always shut down if the market price is below $14.
During the current tax year, Paul came down with a serious illness. Paul's uncle paid many of Paul's expenses during the period of rehabilitation. For tax purposes, how are Paul's mortgage interest and real estate property taxes handled?
Answer:
Neither Paul nor his uncle can deduct the expenses.
Explanation:
The process of marking-to-market Group of answer choices All of the options may result in margin calls. posts gains or losses to each account daily and may result in margin calls. posts gains or losses to each account daily. impacts only long positions.
Options:
a) Market to market impacts only short positions
b) Marking to market results in the posting of gains or losses to each account daily
c) The process of marking a contract to market may result in a margin call
d) Market to market impacts only long positions
Answer:
Options B and C are correct.
Explanation:
Marking to market results in the posting of gains or losses to each account daily and The process of marking a contract to market may result in a margin call
The average cost of a 4-year college education is projected to be $130,000 in 19 years. How much money should be invested now at 6.5%, compounded quarterly, to provide $130,000 in 19 years
Answer:
$39, 292
Explanation:
The applicable formula to calculate the present value of a projected future value is
PV = FV
(1+r)n
In this case
FV = $130,000
r =6.5 % 0r 0.065
n=19
PV = 130,000
(1 +0.065)19
PV = 130,000/3.30858
PV = $39, 292
Final answer:
To accumulate $130,000 in 19 years with an interest rate of 6.5% compounded quarterly, one needs to invest approximately $38,281.87 now.
Explanation:
To calculate how much money should be invested now at a 6.5% interest rate, compounded quarterly, to reach $130,000 in 19 years, we use the future value formula for compound interest:
Future Value (FV) = Present Value (PV) * (1 + (r/n))ⁿ⁺
Where FV = future value, PV = present value (amount to invest now), r = annual interest rate (as a decimal), n = number of times the interest is compounded per year, and t = number of years.
We need to rearrange the formula to solve for the present value (PV):
PV = FV / (1 + (r/n))ⁿ⁺
Let's plug in the values:
FV = $130,000r = 6.5% or 0.065n = 4 (because interest is compounded quarterly)t = 19 yearsNow, calculating the present value:
PV = $130,000 / (1 + (0.065/4))⁴ˣ¹⁹
PV = $130,000 / (1 + 0.01625)⁷⁶)
PV = $130,000 / (1.01625)⁷⁶
PV = $130,000 / (3.39414...)
PV = $38,281.87 (rounded to two decimal places)
Therefore, an investment of approximately $38,281.87 at a rate of 6.5% compounded quarterly is required to provide $130,000 in 19 years.
Gail works in a flower shop, where she produces 10 floral arrangements per hour. She is paid $8 an hour for the first eight hours she works and $16 an hour for each additional hour she works. What is the firm's cost function?
Answer:
Y= 16x -64
Explanation:
The cost function would be derived as follows
let Y represent the total cost and X the total number of hours
Y = 8(8) + 16(x-8)
Y = 64 + 16x - 128
Y = -64 + 16x
Y= 16x - 64
The firm's cost function:
Y= 16x -64
The cost function of the firm is [tex]\text{F= 16x -64}[/tex]. The formula for the cost function is explained below:
This is necessary in order to forecast costs for the following operating term at the planned activity level.
[tex]\text{C(x)= F + V(x), where;}\\\text{C = Production cost}\\\\\text{F = Total fixed costs}\\\text{V = Variable cost}\\\text{x = Number of units}[/tex]
The following is the cost function based on Gail's working hours.
Assume F is the total cost and X is the total number of hours:
[tex]\text{F = 8(8) + 16(x-8)\\F = 64 + 16x - 128\\F = -64 + 16x\\F= 16x - 64}\\\text{The firm's cost function:}\\\text{F= 16x -64}[/tex]
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