Answer: 0.4%
Explanation:
Given that,
At every time a fund manager trades stock, then
Transaction costs = 0.4% of the value of the trade
Portfolio turnover rate = 50% ; On an average, 50% of the portfolio stock is sold and exchange with the other securities every year.
Trading costs on selling orders = 0.4%
Trading costs on buying orders = 0.4%
Therefore,
Total return of the portfolio reduced by trading costs:
[tex]= 2\times0.50\times0.004[/tex]
= 0.4%
At a sales volume of 30,000 units, Carne Company's total fixed costs are $30,000 and total variable costs are $45,000. The relevant range is 20,000 to 40,000 units. If Carne Company were to sell 32,000 units, the total expected cost would be:
(A) $75,000
(B) $78,000
(C) $80,000
(D) $77,000
Answer:
(B) $78,000
Explanation:
The computation of the expected cost equals to
= Fixed cost + variable cost
where,
Fixed cost = $30,000
And, the variable cost = Variable cost × (estimated sales units ÷ given sales units)
= $45,000 × (32,000 units ÷ 30,000 units)
= $48,000
Now put these values to the above formula
So, the value would equal to
= $30,000 + $48,000
= $78,000
Luther Inc., has 1,000 shares of 8%, $50 par value, cumulative preferred stock and 50,000 shares of $1 par value common stock outstanding at December 31, 2016, and December 31, 2017. The board of directors declared and paid a $3,000 dividend in 2016. In 2017, $12,000 of dividends are declared and paid. What are the dividends received by the preferred shareholders in 2017?
Answer:
The dividends received by the preferred shareholders in 2017 is $7,000
Explanation:
The computation of the preference shareholder dividend is shown below:
= Dividend declared - total preference dividend
= $12,000 - $5,000
= $7,000
where,
dividend declared = $12,000
Each year dividend = Number of shares × $ per share price × rate
= 1,000 shares × $50 × 8%
= $4,000
Since the dividend was paid on 2016 is $3,000
So, the balance would be = $4,000 - $3,000
= $1,000
So the total preferred dividend in 2017 = $4000 + $1,000 = $5,000
Final answer:
In 2017, preferred shareholders of Luther Inc. received a total of $5,000 in dividends, which includes $1,000 carried over from unpaid dividends in 2016 and their annual dividend of $4,000.
Explanation:
The question at hand requires us to calculate the dividends received by preferred shareholders of Luther Inc. in 2017.
Luther Inc. has 1,000 shares of 8%, $50 par value, cumulative preferred stock. The first step is to calculate the annual dividend for these preferred shares: 8% of $50 par value equals $4 per preferred share annually. Given that it's cumulative preferred stock, any unpaid dividend from previous years must first be paid out before common shareholders can receive dividends.
In 2016, the company declared and paid a $3,000 dividend. The total annual dividend for preferred shareholders is the number of shares (1,000) multiplied by the per-share dividend ($4), which equals $4,000. Therefore, in 2016, the preferred shareholders were owed $4,000 but only received $3,000, leaving $1,000 in unpaid dividends that carry over to the next year (2017) due to the cumulative feature.
In 2017, $12,000 of dividends are declared and paid. First, we pay the carried-over dividend of $1,000 from 2016. The remaining $11,000 would then be distributed to the preferred shares before any dividends are paid to common shareholders. With each preferred share entitled to $4 yearly, this equates to 2,750 shares (if all goes to preferred, which would not happen in reality because once preferred dividends are covered, the rest goes to common). However, since there are only 1,000 preferred shares, it means preferred shareholders would receive their entire annual dividend of $4 per share, totaling $4,000 for 2017.
Dividends received by preferred shareholders in 2017
The preferred shareholders receive the unpaid $1,000 from the previous year plus the annual dividend of $4,000, totaling $5,000 in 2017.
Chuck Sox makes wooden boxes in which to ship motorcycles. Chuck and his three employees invest a total of 40 hours per day making the 200 boxes. a) Their productivity = nothing boxes/hour (round your response to two decimal places). Chuck and his employees have discussed redesigning the process to improve efficiency. Suppose they can increase the rate to 400 boxes per day. b) Their new productivity = nothing boxes/hour (round your response to two decimal places). c) The unit increase in productivity is nothing boxes/hour (round your response to two decimal places). d) The percentage LOADING... increase in productivity is nothing% (enter your response as a percentage rounded to two decimal places).
Answer:
a) 5 boxed -per-hour
b) the increase in outpu to 400 will increase productivity to 10 boxes
c) increase in 5 boxed per hour
d) it increase by 100%
Explanation:
chunk and three employees 40 hours (ten hours each) to produce 200 boxes.
a) productivity:
output / hours
200 / 40 = 5
b) new productivity:
output/ hours
400 / 40 = 10
c) new productivity - old productivity = change in productivity
10 boxes per hour - 5 boxes per hour = 5 boxes per hour
d) percent:
increase / base productivity x 100
5 boxes per hour / 5 boxes per hour x 100 = 100%
Financial information is presented below:
Operating expenses $ 26000
Sales revenue 250000
Cost of goods sold 171000
The gross profit rate would be
Answer:
Gross Profit rate = 31.6%
Explanation:
Gross Profit rate = [tex]\frac{Gross\ Profit}{Total\ Sales} \times 100[/tex]
Gross Profit = Total Sales - Cost of Goods Sold.
Operating expenses are not considered while calculating gross profit.
Here, with the given information, gross profit shall be:
Sales Revenue = $250,000
Cost of goods sold = $171,000
Gross profit = $250,000 - $171,000 = $79,000
Gross profit rate = [tex]\frac{79,000}{250,000} \times 100 = 31.6[/tex]
Gross Profit rate = 31.6%
The gross profit rate is calculated by dividing the gross profit ($79,000) by the sales revenue ($250,000) and multiplying by 100, resulting in a gross profit rate of 31.6%.
Explanation:Calculating Gross Profit RateTo calculate the gross profit rate, you subtract the cost of goods sold from the sales revenue and then divide that number by the sales revenue. Using the student's provided financial information:
Sales Revenue = $250,000
Cost of Goods Sold (COGS) = $171,000
Gross Profit = Sales Revenue - COGS
Gross Profit = $250,000 - $171,000
Gross Profit = $79,000
Now, to find the gross profit rate:
Gross Profit Rate = (Gross Profit / Sales Revenue) x 100
Gross Profit Rate = ($79,000 / $250,000) x 100
Gross Profit Rate = 31.6%
Therefore, the gross profit rate is 31.6%.
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Megan Newell is the owner and operator of Ultima LLC, a motivational consulting business.
At the end of its accounting period, December 31, 2013, Ultima has assets of $942,000 and
liabilities of $584,000. Using the accounting equation, determine the following amounts:
a. Owner's equity as of December 31, 2013.
b. Owner's equity as of December 31, 2014, assuming that assets increased by $113,000
and liabilities increased by $44,000 during 2014.
Final answer:
The owner's equity for Ultima LLC as of December 31, 2013, was $358,000. By the end of 2014, after accounting for increases in assets and liabilities, the owner's equity amounted to $427,000.
Explanation:
Calculation of Owner's Equity
In accounting, owner's equity is calculated as the difference between a company's total assets and its total liabilities. Using the accounting equation Assets = Liabilities + Owner's Equity, we can determine the owner's equity for Ultima LLC:
a. Owner's Equity as of December 31, 2013
Owner's Equity = Assets - Liabilities
Owner's Equity = $942,000 - $584,000
Owner's Equity = $358,000
b. Owner's Equity as of December 31, 2014
After the increase in assets and liabilities during 2014:
Assets (end of 2014) = Initial Assets + Increase in Assets
Assets (end of 2014) = $942,000 + $113,000
Assets (end of 2014) = $1,055,000
Liabilities (end of 2014) = Initial Liabilities + Increase in Liabilities
Liabilities (end of 2014) = $584,000 + $44,000
Liabilities (end of 2014) = $628,000
Owner's Equity (end of 2014) = Assets (end of 2014) - Liabilities (end of 2014)
Owner's Equity (end of 2014) = $1,055,000 - $628,000
Owner's Equity (end of 2014) = $427,000
This year, State A raised revenues by increasing its general sales tax rate from 5 percent to 6 percent. Because of the increase, the volume of taxable sales declined from $890 million to $759 million. In contrast, State Z raised revenues from its 5 percent sales tax by expanding the tax base to include certain retail services. The volume of services subject to tax was $145 million. Compute the additional revenue raised by State A. Compute the additional revenue raised by State Z.
Answer: (a) $1.04 million
(b) $7.25 million
Explanation:
Additional revenue raised by State A :
Initial revenue = $(5% x 890) million
= $ 44.5 million
Revenue from increased tax rate = $(6% x 759) million
= $45.54 million
Additional Revenue raised by State A = $ (45.54 - 44.5)million
= $1.04 million
Additional revenue raised by State Z :
Revenue from increased tax base = $(5% x 145) million
= $7.25 million
Luthan Company uses a plantwide predetermined overhead rate of $23.40 per direct labor-hour. This predetermined rate was based on a cost formula that estimated $257,400 of total manufacturing overhead cost for an estimated activity level of 11,000 direct labor-hours. The company incurred actual total manufacturing overhead cost of $249,000 and 10,800 total direct labor-hours during the period. Required: Determine the amount of manufacturing overhead cost that would have been applied to all jobs during the period.
Answer:
$252,720
Explanation:
As for the provided details:
Predetermined overhead rate is based on 11,000 direct labor hours.
The rate identified as $23.40
Since the actual activity is less than the standard labor hours, that is actual labor hours = 10,800
Thus, actual overheads to be applied based on predetermined rate shall be = Rate determined [tex]\times[/tex] actual hours
= $23.40 [tex]\times[/tex] 10,800 = $252,720
Manufacturing overhead cost is referred to as the total sum of the amount that includes all the indirect costs incurred in the manufacturing of the products. This cost is added to the products of the company in order to determine all the direct and indirect labor costs.
Amount of manufacturing overhead cost= $252,720
The predetermined overhead rate is based on 11,000 direct labor hours.
The rate identified = $23.40
Since the actual activity is less than the standard labor hours, that is actual labor hours = 10,800
Thus, actual overheads to be applied based on predetermined rate shall be = Rate determined actual hours
= [tex]\$23.40\times10,800 = \$252,720[/tex]
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On August 15, you purchased 110 shares of stock in the Cara Cotton Company at $26 a share and a year later you sold it for $22 a share. During the year, you received dividends of $2.00 a share. Compute your HPR and HPY on your investment in Cara Cotton. Use a minus sign to enter negative values, if any. Round your answer for HPR to three decimal places. Round your answer for HPY to one decimal place.
Answer:
HPR 7.692 %
HPY 7.7 %
Explanation:
Holding period return: return in one year
Holding period yield: until maturirty
are the same for this case, as the share was for 1 year only:
returns/ investment = HPR = HPY
return:
dividends $ 2
price variance -$ 4
net return -$ 2
Investment
purchase at $ 26
-2/ 26 = -1/13 = -0,0769230 = -7.692%
In the AD partnership, Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio, respectively. They decide to admit David to the partnership. Each of the following questions is independent of the others.
Refer to the information provided above. Assume that David invests $50,000 for a one-fourth interest. Goodwill is to be recorded. The journal to record David's admission into the partnership will include:
A. a credit to cash for $50,000.
B. a debit to goodwill for $7,500.
C. a credit to David, Capital for $60,000.
D. a credit to David, Capital for $50,000.
Answer:
C. a credit to David, Capital for $60,000.
Explanation:
140,000 + 40,000 + 50,000 = 230,000
After the capital Allen and Daniel own 75% of the partnership:
180,000 = 75%
We can calculate for the 100% of the partnership
100% = 240,000 partnership after
David receive 25% = 60,000
but his contribution is for 50,000
goodwill of 10,000
journal entry
Cash 50,000
goodwill 10,000
David Capital 60,000
To record David's admission into the partnership, the cash account will be credited by $50,000, goodwill will be debited by $5,000, and David's capital account will be credited by $50,000.
Explanation:The subject of this question revolves around partnership accounting principles, specifically, the accounting for admission of a new partner in a business partnership. Assuming that David invests $50,000 for a one-fourth interest in an AD partnership where the total capital is $180,000 (Allen's capital $140,000 + Daniel's capital $40,000), he would need to have his share valued at $180,000/4 = $45,000. However, David is contributing $50,000, which is $5,000 more than his share value. This shows the existence of goodwill of $5,000 in the business. The accounting for these transactions will involve a credit to cash for $50,000 (reflecting David's contribution to the partnership's cash), a debit to Goodwill for $5,000 (recording the excess value of David's contribution) and a credit to David, Capital for $50,000 (reflecting David's capital account balance after his admission).
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Which of the following techniques are utilized by leaders to stay informed on how well strategy execution process is progressing?A. Managing by walking around (MBWA).B. Managing business with action (MBWA).C. Multi-business warning actions (MBWA).D. Managers being well-advised (MBWA).E. None of these.
Answer:
A. Managing by walking around (MBWA)
Explanation:
Managing by walking around (MBWA) is a term defined by Tom Peters after studyng the most succesdfull companies and their practices. Its means that managers should spend part of their time listening to problems and ideas of their staff, while wandering around an office or plant instead of having only "formal" meetings to check the progress of the company's strategy execution.
If the team is used to this kind of interactioon is more likely thet they will see in their boss some kind of a "peer" and they'll be more confident to talk about their ideas os work problems
Computing Straight-Line and Double-Declining-Balance Depreciation On January 2, Reed Company purchases a laser cutting machine for use in fabrication of a part for one of its key products. The machine cost $75,000, and its estimated useful life is five years, after which the expected salvage value is $5,000. For both parts (a) and (b) below: (1) Compute depreciation expense for each year of the machine's five-year useful life under that depreciation method. (2) Use the financial statements effects template to show the effect of depreciation for the first year only for that method. (a) Straight-line $Answer per year Use negative signs with answers below, when appropriate. Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital Record first year depreciation Answer Answer Answer Answer Answer Income Statement Revenue - Expenses = Net Income Answer Answer Answer (b) Double-declining Year Depreciation Expense 1 $Answer 2 $Answer 3 $ Answer 4 $Answer 5 $Answer Use negative signs with answers below, when appropriate. Balance Sheet Transaction Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital Record first year depreciation Answer Answer Answer Answer Answer Income Statement Revenue - Expenses = Net Income Answer Answer Answer
Answer:
Compute depreciation expense for each year of the machine's five-year useful life under that depreciation method
Use the financial statements effects template to show the effect of depreciation for the first year only for that method
Explanation:
value 75000
Life 5 years
Salvage value 5000
Depreciable amount 70000
Annual deo rate 100%/5 years 20,00%
Year 1 70000 40% 28.000,0 42.000,0
Year 2 42000 40% 16.800,0 25.200,0
Year 3 25200 40% 10.080,0 15.120,0
Year 4 15120 40% 6.048,0 9.072,0
Year 5 9072 40% 3.628,8 5.443,2
first year
Assets=Liabilities+equity
assets(Accumulate depreciation)= lianilities (0)+ equity ( net income( revenue-expenses)
-Accumulate depreciation = expense
=-42000=-42000
Randy and Frank are both landscapers. Randy can mow 8 lawns per day or prune 24 trees. Frank can mow 6 lawns per day or prune 12 trees. What is each man’s opportunity cost of mowing lawns? Who has a comparative advantage in each task, and who, if anyone, has an absolute advantage at each task?
Answer:
(a) Randy's opportunity cost of mowing lawns = [tex]\frac{24}{8}[/tex]
= 3
Therefore, 3 trees have to be foregone for mowing 1 lawn.
Randy's opportunity cost of pruning trees = [tex]\frac{8}{24}[/tex]
= 0.33
Therefore, 0.33 lawns have to be foregone for pruning 1 tree.
(b) Frank's opportunity cost of mowing lawns = [tex]\frac{12}{6}[/tex]
= 2
Therefore, 2 trees have to be foregone for mowing 1 lawn.
Frank's opportunity cost of pruning trees = [tex]\frac{6}{12}[/tex]
= 0.50
Therefore, 0.50 lawns have to be foregone for pruning 1 tree.
(c) Frank has a comparative advantage in mowing lawns and Randy has a comparative advantage in pruning trees.
(d) Randy has a absolute advantage in both, mowing lawns and pruning trees.
Peter, a passionate athlete, uses sports shoes manufactured by Friction Shoes Inc. because of their high quality soles. When Friction Shoes introduced a new line of shoes, Peter could not afford to buy them. Nevertheless, he feels that they are the best in the market. In this case, Peter belongs to the segment of _____.
a. global citizens
b. global dreamers
c. antiglobals
d. global agnostics
Financial information is presented below:
Operating expenses $ 56000
Sales returns and allowances 10000
Sales discounts 3000
Sales revenue 140000
Cost of goods sold 100000
The amount of net sales on the income statement would be
Answer:
Total Net Sales : $127.000
Explanation:
Income Statement
Sales 140.000
Sales Return and Allowance -10.000
Sales Discounts -3.000
Net Sales $127.000
Cost of goods sold -100.000
Gross Profit 27.000
Operating Expenses -56.000
Net Income BEFORE Taxes -29.000
The December 31, 2015, balance sheet of Schism, Inc., showed $141,000 in the common stock account and $2,660,000 in the additional paid-in surplus account. The December 31, 2016, balance sheet showed $151,000 and $2,960,000 in the same two accounts, respectively. The company paid out $146,000 in cash dividends during 2016. What was the cash flow to stockholders for the year?
The cash flow for the year is ($164,000). Cash spent represents outflows, whereas cash received represents inflows.
A financial statement that tracks a company's sources and uses of cash over time is the cash flow statement.
Given,
Common stock = $141,000
Additional paid in surplus = $2,660,000
Calculate Total Equity for 2015:
Total equity for 2015 = Common stock + Additional paid in surplus
Total equity for 2015 = 141,000+2,660,000
= $2,801,000
Given,
Common stock = $151,000
Additional paid in surplus = $2,960,000
Calculate Total Equity for 2016:
Total equity for 2016 = Common stock + Additional paid in surplus
Total equity for 2016 = 151,000 + 2,960,000
= $3,111,000
Calculate Net New Equity:
Net New Equity = Total equity for 2016 - Total equity for 2015
= $3,111,000 - 2,801,000
=$310,000
Given,
Dividends paid = $146,000
Net new equity = $310,000
Calculate Cash Flow to stockholders:
Cash flow to stockholders = Dividends paid - Net new equity
= 146,000 - 310,000
=($164,000)
Thus, cash flow to stockholders is ($164,000).
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The cash flow to stockholders for the year is $164,000.
Explanation:To determine the cash flow to stockholders for the year, we need to consider the changes in the common stock account and the additional paid-in surplus account from 2015 to 2016, as well as the cash dividends paid out during 2016.
The increase in common stock from $141,000 to $151,000 indicates that $10,000 was received from issuing new shares of stock.
The increase in additional paid-in surplus from $2,660,000 to $2,960,000 suggests that $300,000 was received from investors in exchange for company stock.
Therefore, the cash flow to stockholders for the year is the sum of the new stock issuances and additional paid-in surplus, minus the cash dividends paid out:
(New stock issuances + Additional paid-in surplus) - Cash dividends = Cash flow to stockholders
Using the above calculation:
($10,000 + $300,000) - $146,000 = $164,000
So, the cash flow to stockholders for the year is $164,000.
A company's inventory records report the following:
August 1 Beginning balance 27 units @ $17
August 5 Purchase 22 units @ $16
August 12 Purchase 26 units @ $17
On August 15, it sold 54 units. Using the FIFO perpetual inventory method, what is the value of the inventory at August 15 after the sale?
Using the FIFO perpetual inventory method, the value of the inventory at August 15, after the sale, using the FIFO perpetual inventory method, is $442.
The FIFO (First-In, First-Out) perpetual inventory method is an accounting approach used to value inventory and determine the cost of goods sold (COGS) in a perpetual inventory system. It assumes that the earliest items purchased are the first ones sold.
Under the FIFO method, the cost of goods sold is calculated by using the cost of the oldest or earliest inventory items available in stock. This means that when a sale occurs, the cost of the items sold is based on the cost of the oldest inventory acquired.
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The correct answer is A. "$377", as using the First In, First Out perpetual inventory method, the value of the inventory on August 15 after the sale is $377.
To determine the value of the inventory on August 15 using the First In, First Out perpetual inventory method, follow these steps:
Start with the beginning balance of 27 units at $17 each.Add the purchase made on August 5 of 22 units at $16 each.Add the purchase made on August 12 of 26 units at $17 each.Calculate the total units available before the sale, which is 75 units (27 + 22 + 26).Determine the cost of the 54 units sold. Using First In, First Out, the first 27 units come from the beginning balance, and the next 27 units come from the August 12 purchase.The cost of the 54 units sold is (27 units x $17) + (22 units x $16) + (5 units x $17) = $918.Subtract the cost of the sold units from the total initial inventory valuation to find the remaining inventory.After performing these calculations, the remaining inventory on August 15 is valued at $377. Therefore, the correct answer is A. $377.Full Question:
A company's inventory records report the following:
August 1 Beginning balance 27 units at $17
August 5 Purchase 22 units at $16
August 12 Purchase 26 units at $17
On August 15, it sold 54 units. Using the First In, First Out perpetual inventory method, what is the value of the inventory at August 15 after the sale?
A. $377
B. $918
C. $1,575
D. $357
E.$1,029
During 2018, Raines Umbrella Corp. had sales of $720,000. Cost of goods sold, administrative and selling expenses, and depreciation expenses were $498,000, $125,000, and $105,000, respectively. In addition, the company had an interest expense of $58,000 and a tax rate of 21 percent. (Ignore any tax loss carryforward provisions and assume interest expense is fully deductible.) Suppose the company paid out $62,000 in cash dividends. If net capital spending and net working capital was zero, and if no new stock was issued during the year, what is the net new long-term debt? (Do not round intermediate calculations.)
Final answer:
To determine the net new long-term debt of Raines Umbrella Corp., we calculate its net income and adjust for dividends paid. The company's net income comes out to be negative $53,820, and with dividends of $62,000 paid out, the net new long-term debt is a negative $115,820. This implies the company repaid more debt than it took on during the year.
Explanation:
To calculate the net new long-term debt for Raines Umbrella Corp., we need to first calculate the net income and then apply the necessary cash flows. Here is the breakdown of the calculation:
Sales: $720,000
Cost of Goods Sold: $498,000
Administrative and Selling Expenses: $125,000
Depreciation Expense: $105,000
Interest Expense: $58,000
First, we calculate earnings before interest and taxes (EBIT):
EBIT = Sales - Cost of Goods Sold - Administrative and Selling Expenses - Depreciation Expense
EBIT = $720,000 - $498,000 - $125,000 - $105,000
EBIT = $-8,000
Next, we calculate the net income:
Net Income = EBIT - Interest Expense x (1 - Tax Rate)
Net Income = $-8,000 - $58,000 x (1 - 0.21)
Net Income = $-8,000 - $58,000 x 0.79
Net Income = $-8,000 - $45,820
Net Income = $-53,820
Since the company paid out cash dividends and had no capital spending or changes in working capital, the change in the long-term debt equals net income minus dividends paid:
Change in Long-Term Debt = Net Income - Dividends Paid
Change in Long-Term Debt = $-53,820 - $62,000
Change in Long-Term Debt = $-115,820
Therefore, the net new long-term debt is a negative $115,820, which indicates that more debt was repaid than was taken on during the year.
A sample of 28 time shares in the Orlando, Florida, area revealed the following daily charges for a one-bedroom suite. For convenience the data are ordered from smallest to largest. Construct a box plot to represent the data. Comment on the distribution. Be sure to identify the first and third quartiles and the median. $116 $121 $157 $192 $207 $209 $209 229 232 236 236 239 243 246 260 264 276 281 283 289 296 307 309 312 317 324 341 353
Answer: Median = 253, lower Quartile = 219, Upper quartile = 301.5
Explanation:
Minimum = 116
Mean = 253 = mean is the average daily charge. It is calculated by taking the total sum Of charges and divide it by the number of days.
Q1 = 219 = lower Quartile. Lower quartile represents the lower 25% of data
Q2 = 253= Median. Median represents the middle score/number. Median is used as a measure of central tendency of data.
Q3 = 301.5=Upper quartile. Upper Quartile represents 75% of data.
Maximum= 353
The box and whisker graph is a graph that groups data into Quartiles.
The median is $253, that daily charge of $253 for the Bedroom suite Divides the data (Charges per day) into two halves namely the lower half and the upper half, $253 charge is in the middle.
The median is $253, The Lower quartile is $219 and the upper quartile 301.5, these values are painting a clear picture which shows us that that 75% of the Daily Charges for the Bedroom suite were about $219. The Box and Whisker Graph depicts that in most days the Charges were above $219 and higher, Hence the lower whisker is much longer than the upper whisker.
The mean charge for one bedroom suite is equal to the median. The mean is also $253 meaning on average the cost of occupying the one bedroom suite was $253, with the Mean of $253 we can conclude that most daily charges for the bedroom suite are distributed around the mean of $253 hence the box and whisker graph is skewed towards the right side (the upper side) because with median of $253 already 50% of the daily charges are above $253
Final answer:
To construct a box plot and comment on the distribution of daily charges for a one-bedroom suite in Orlando, the dataset's first quartile (Q1) is $219, the median is $253, and the third quartile (Q3) is $301.5. The box plot would illustrate a moderate spread of prices, with a higher concentration towards the lower end.
Explanation:
To construct a box plot for the provided sample of daily charges for a one-bedroom suite in the Orlando, Florida, area, we first need to calculate the quartiles and median of the dataset. We have 28 observations that have been ordered from smallest to largest: $116, $121, $157, $192, $207, $209, $209, $229, $232, $236, $236, $239, $243, $246, $260, $264, $276, $281, $283, $289, $296, $307, $309, $312, $317, $324, $341, $353.
The median (or second quartile) divides the dataset into two equal halves and is the average of the 14th and 15th terms, which are $246 and $260, giving us a median of $(246+260)/2 = $253.
The first quartile (Q1) is the median of the first half of the data, which is the average of the 7th and 8th terms, giving us $(209+229)/2 = $219. The third quartile (Q3) is the median of the second half of the data, which is the average of the 21st and 22nd terms, giving us $(296+307)/2 = $301.5.
Now, we can represent this data through a box plot which will have the following characteristics:
Minimum value = $116First quartile (Q1) = $219Median (Q2) = $253Third quartile (Q3) = $301.5Maximum value = $353The distribution indicates a moderate spread with a higher concentration of prices towards the lower end, as shown by the proximity of Q1 and Q2 compared to Q3 and the maximum value. This analysis helps in understanding the distribution of daily charges for a one-bedroom suite in the Orlando area.
Consider the market for hamburgers in an economy where the market equilibrium is characterized by a quantity of hamburgers of 50 million and a price of $5.00 per hamburger. Suppose that currently 50 million hamburgers are being produced and sold at a price of $5.00. This outcome in the market for hamburgers is economically because: Some hamburgers produced incur opportunity costs of production that exceed their value or marginal benefit to consumers. The opportunity cost of producing the last hamburger equals the marginal benefit of consumption. Some hamburgers that are valued more highly by consumers than their opportunity cost of production are not being produced and sold
Answer:
The correct answer is: the opportunity cost of producing the last hamburger equals the marginal benefit of consumption.
Explanation:
The equilibrium quantity of hamburgers is 50 million.
The equilibrium price of each unit of hamburgers is $5.
The economy is producing at 50 million output and $5 price.
This implies that the economy is in equilibrium. At equilibrium, the cost of producing will be equal to benefit. Thus we can say that the economy is producing at efficient level.
In case the cost is higher than the marginal benefit, it implies that production is inefficient.
This outcome in the market for hamburgers is economic because the opportunity cost of producing the last hamburger equals the marginal benefit of consumption. Thus option B is correct.
What is a market?A market is made up of various structures, organizations, procedures, and processes that allow people to exchange goods and services.
At a $5 price and a 50,000,000 turnover, the economy is in full swing. This suggests that there is economic equilibrium. The gain will match the production costs at equilibrium. As a result, we can conclude that the economy operates efficiently. When the cost exceeds the marginal benefit, wasteful production is implied.
Since the marginal benefit of consuming equals the relative value of creating the final hamburger, this event in the markets for hamburgers is economically sound. Therefore, option B is the correct option.
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At December 31, 2014 and 2015, Plank Corp. had outstanding 4,000 shares of $100 par value 8% cumulative preferred stock and 20,000 shares of $10 par value common stock. At December 31, 2014, dividends in arrears on the preferred stock were $16,000. Cash dividends declared in 2015 totaled $60,000. What amounts were payable on each class of stock?
Answer:
For preference stock, the dividend is $50,000 and for the common stock it is $10,000
Explanation:
The computation of each class of stock is shown below:
For preference shareholders = Number of shares × price per share × rate + preferred stock dividend
= 4,000 shares × $100 × 8% + $16,000
= $32,000 + $18,000
= $50,000
The total cash dividend declared is $60,000
So, for common stock it would be equal to
= Total cash dividend - preference stock dividend
= $60,000 - $50,000
= $10,000
Two candy bar makers sell a chocolate bar that contains coconut and almonds. One company is a well-known national brand name, while the other is a small local candy company that has been marketing its local roots extensively. A customer who likes to support local businesses and is familiar with the local brand chooses the local company’s bar and doesn’t mind paying $.50 more for it. This is an example of the local company having a:
Answer: This is an example of the local company having a: COMPETITIVE ADVANTAGE.
Explanation: A competitive advantage is any characteristic of a company, which differentiates it from others by placing it in a superior relative position to compete. That is, any attribute that makes it more competitive than the others. It is said that a company has a competitive advantage in product differentiation when it offers a product or service that, being comparable to that of another company, has certain attributes or characteristics that make it perceived as unique by customers. Therefore, customers are willing to pay more to get a product from one company than from another.
The local company's advantage in this scenario is a 'Competitive Advantage'. The advantage is built by emphasizing native aspects like local roots which are appealing to consumers who support local businesses. Consumers perceive the local candy's higher price as an investment towards supporting their local economy.
Explanation:The term for the local chocolate company's advantage in this scenario is 'Competitive Advantage'. This advantage often stems from featuring aspects that differentiate a company and its products from the competition, making it the preferred choice among certain consumers. As a small local company, despite not having the sizeable advertising budgets of larger, national brands, it can build competitive advantage by emphasizing aspects like local roots, which can be appealing to consumers who want to support local businesses.
In marketing and strategic management, a competitive advantage is anything that allows an organization to outperform its competitors. It can be a result of various factors such as superior product offering, better customer service, higher quality, among others. In this case, the local candy bar company’s competitive advantage is built upon its local brand image which resonates with the consumers who value supporting local businesses.
As for the reason why consumers are willing to pay more for a product from a company with a competitive advantage, it's because they perceive the product to be worth more. In essence, some consumers may see any additional costs as an investment towards supporting their local economy, this is known as preference for locality strategy in business.
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1) Classify each of the following as being either primarily microeconomics or macroeconomics: a. How quickly demand reacts to the latest Apple advertising campaign. b. How the national unemployment rate will be affected by interest rate cuts. c. The price of gasoline in Denver d. An auto manufacturer decides to lay off 1,000 workers because of slow sales due to safety concerns in its latest models.
Answer:
a.- microeconomics
b.- macroeconomics
c.- microeconomics
d.- microeconomics
Explanation:
a.- is the campaign of a business it will have impact on that market.
b - this will impact the whole economy as the interest rate determinates projects profitability and unemployment change the labor supply, increasing or decreasing the labor cost
c.- is the price of a single product in a given city It don't impact the whole economy
d.- this is a decision for a given firm. it is not based on a fact from the economy it is being done based on internal decisions.
You run a school in Florida. Fixed monthly cost is $5000 for rent and utilities, $3000 is spent in salaries and $500 in insurance. Also each student adds up to $90 expense per month for stationary, food etc. You charge $1000 per month from every student. You are considering moving the school to another neighborhood where the rent and utilities will increase to $8000, salaries to $5000 and insurance to $1000 per month. Variable cost per student will increase up to $150 per month. However, you can charge $1500 per student. At what point will you be indifferent between your current mode of operation and the new option?
Answer:
the indifference point is at 12.5
as there can't be 12.5 student it will be between 12 and 13 student per month.
Explanation:
the indifference point will be when the two alternatives yield the same result
(sales price - variable cost)Q - fixed cost = operating income
current scenario:
(1,000 - 90) Q - 8,500
proposed scenario:
(1,500 - 150)Q - 14,000
We equalize each other and solve for Q
(1,000 - 90) Q - 8,500 = (1,500 - 150)Q - 14,000
910Q - 8,500 = 1,350Q - 14,000
14,000 - 8,500 = (1,350 - 910)Q
5,500 = 440Q
5,500/440 = Q
12.5 = Q
Julia wanted to test out a new product for her company. She scheduled several small group lunches and learns with internal staff and then a few town hall meetings with external clients and the community. She wanted to make sure that product would meet the needs of the consumers, but also would be a product that the staff would be excited to produce. Because Julia chose to seek input from others, what type of managerial role do you think she prefers to play?
Answer: Informational
Explanation: These roles refers to the collection, dissemination and transmission of information by the manager. This role of the manager depicts how suitable a manager in decision making as the information collected is usually related to some important decision to be made.
In the given case, Julia tries to collect all the relevant information from different sources such as staff meetings. She collected all the information with objective of making the product suitable for customer needs and preferences.
Thus, we can conclude that Julia likes to play informational role.
Final answer:
Julia's method of product testing reveals her preference for a participative, democratic managerial role, valuing both team and consumer input, indicative of a transformational leadership style.
Explanation:
Julia's approach to product testing shows a preference for a managerial role that is participative and democratic. She values the input and feedback of both internal staff and external consumers, suggesting she seeks to be involved and collaborative rather than authoritative or distant. By organizing small group lunches and learns and town hall meetings, she facilitates open communication and seeks to understand the needs and opinions of those who will ultimately use and produce the product. Julia emphasizes the importance of aligning the product with consumer needs and staff capabilities, showing a holistic view of the product development process. Her style contrasts with that of the manager in the provided example who disregarded employee feedback, showing that Julia prefers an interactive and open management style that values the ideas and satisfaction of her team and clients.
The way Julia has structured her approach indicates that she might favor a management style often associated with transformational leadership, where leaders work with teams to identify needed change, creating a vision to guide the change through inspiration, and executing the change in tandem with committed members of the group. This reflects a modern approach to management that respects the diversity of insights in a team and the value of engaged, motivated employees.
A farmer divided his piece of land into 4 equivalent groups. The quality of the soil is the same across the 4 groups of land. He planted the same crop in all 4 groups of land and recorded the yield of the crop in all 4 groups for a 4 week period. Is the study observational or experimental? If it is an experiment, what is the controlled factor?
Final answer:
The student's scenario describes an experimental study where the controlled factors are the quality of the soil and other possible conditions like water, sunlight, and type of crop planted. Control groups, which do not receive the experimental treatment, are a vital component of such studies to isolate the effects of the independent variable.
Explanation:
The study described by the student, wherein a farmer divides his land into 4 equivalent groups and plants the same crop across all groups to record yield over a period of 4 weeks, is an example of an experimental study. The reason it is experimental and not observational is that the farmer is actively controlling the conditions under which the crop is grown, as opposed to simply observing them without intervention.
In this experiment, the controlled factors include the quality of the soil, assumed to be the same across the four groups, and possibly other factors such as the amount of water, plant food, sunlight, and the type of crop planted, all of which are not explicitly stated but are implied to be controlled. The controlled factor is crucial in an experimental setup because it allows the researcher to isolate the effects of a specific variable they are testing (the independent variable) on the outcome of the study (the dependent variable), such as the yield of the crop.
An important aspect of experimental studies is the presence of a control group. This group would not receive the experimental treatment, which in the context of the provided scenarios could be the presence or absence of fertilizer, ensuring that any differences in outcome could be attributed to the fertilizer application.
The study described is an experimental study. The farmer is actively manipulating the conditions by planting the same crop in all 4 groups of land and then observing the outcomes, which in this case is the yield of the crop over a 4-week period.
In an experimental study, there is at least one controlled factor and at least one manipulated factor.
The controlled factor in this experiment is the quality of the soil, which is kept constant across all 4 groups of land. This ensures that any differences in the yield of the crop cannot be attributed to differences in soil quality.
Additionally, the farmer is controlling the type of crop planted and the time period of growth (4 weeks), ensuring that these factors do not vary between the groups.
The manipulated factor in this experiment is likely the specific treatment or condition applied to each of the 4 groups, although the question does not specify what these treatments are.
For example, the farmer might be testing the effect of different fertilizers, irrigation methods, or planting densities on the yield of the crop.
Each group would receive a different treatment, and by comparing the yields, the farmer could determine the effect of each treatment on crop production.
In summary, the study is experimental because the farmer is applying different treatments to the groups of land and controlling for other variables that could affect the yield.
The controlled factors include the quality of the soil, the type of crop, and the duration of the growth period.
Fox Corp. has been asked to quote a sales price for additional units of its product. These additional products are above its typical monthly production run of 5,000 units. The relevant data to prepare the quote is as follows: Additional Requested Units: 33 Labor hours to produce 1 unit: 0.79 Labor Cost per hour: $89.98 Material Cost per unit: $203.05 Other Manufacturing Expenses: 18% of the direct labor expense SG&A Expenses remain unchanged at: $173,000 Required Net Margin: 9.3% Compute the COGS per Unit.
Answer:
The COGS per Unit is $286.92
Explanation:
The computation of the cost of goods sold per unit is shown below:
= Material Cost per unit + Labor cost per unit + Other Manufacturing Expenses
where,
Material Cost per unit is $203.05
Labor cost per unit = Labor hours to produce 1 unit × Labor Cost per hour
= 0.79 × $89.98
= $71.08
And, the other manufacturing expenses = 18% of Labor cost per unit
= 18% × $71.08
= $12.79
Now put these values to the above formula
So, the value would equal to
= $203.05 + $71.08 + $12.79
= $286.92
All else equal, if there are diminishing returns, then what happens to productivity if both capital and labor increase?
a. Productivity will definitely fall.
b. Productivity will definitely be unchanged.
c. Productivity will definitely rise.
d. None of the above are necessarily correct.
Answer:
a. Productivity will definitely fall.
Explanation:
The productivity of a firm is directly associated with the type of return on inputs. If marginal returns on inputs are increasing, the increase in an input quantity will increase output more than proportionally. If the marginal returns of the inputs are constant, for each increase in the amount of inputs, there will be an increase of one unit produced. If the marginal return on inputs is decreasing, the increase in input quantity will lead to a less than proportional increase in output. Thus, the increase of one unit of capital and labor will generate less than one unit produced. Thus, it will be necessary to increase more than one unit of each input to produce one unit of good, that is, productivity will be decreasing.
Which of the following statements is incorrect?
A) Two cost drivers often used in practice are: direct labor hours and machine hours.
B) The Work in Process inventory account is increased when manufacturing overhead is applied to production.
C) The predetermined overhead rate is multiplied by the budgeted cost driver level to determine the application of overhead to a particular job.
D) The formula to arrive at the predetermined overhead rate is budgeted total manufacturing overhead divided by budgeted activity level of the cost driver.
E) The calculation of the predetermined overhead rate is made at the beginning of the period under a normal costing system.
Answer:
C) The predetermined overhead rate is multiplied by the budgeted cost driver level to determine the application of overhead to a particular job.
Explanation:
The predetermined overhead rate is used to compute the application of overheads on actual basis, that is overhead rate is multiplied with actual hours and not the budgeted one, as for the budget the budgeted hours are taken.
The most common cost drivers are labor hours and machine hours.
As generally, work in process only includes direct material and labor, if production overheads will also be applied then it will increase the work in process cost.
Predetermined overheads rate is based on budgeted total cost and budgeted activity level.
The predetermined rate is always calculated in the beginning as it is the initial step for cost allocation.
Which of the following statements is true of expatriate managers?
a. They are managers who work abroad.
b. They are managers who work in domestic firms.
c. They are managers who work for the emerging economies they are a part of.
d. They are managers who work for local businesses in developed countries.
Answer:
The correct answer would be option A, They are managers who work abroad.
Explanation:
Expats are the people who work abroad in other countries, other than their own. They are called the expats in other countries. For example if there is a person who is from Pakistan and is working in Saudi Arabia, he is called as expat in Saudi Arabia. Whatever position they are at, they would be called as expats or expatriates. So in this example, option A describes the expats more appropriately. Expats managers are the managers who work abroad.
Final answer:
The true statement about expatriate managers is that they work abroad (option a). These managers have to adapt to different cultural environments, and their success may depend on various personality traits beyond technical expertise.
Explanation:
The correct answer to which of the following statements is true of expatriate managers is option (a): They are managers who work abroad. Expatriate managers are employed by companies to work in a different country from where the organization is headquartered or where they are originally from. These managers typically have demonstrated leadership skills in their home country, and they are temporarily assigned to oversee operations in the host country, where their effectiveness in a different cultural environment is crucial for both their personal success and that of the organization.
It is important to understand that successful expatriate assignments may require more than just technical skills. Personality traits such as cultural sensitivity, adaptability, emotional stability, and interpersonal skills can be significantly relevant in ensuring success in foreign assignments.
By the end of December, Jackson Company has completed work of $2,000. Jackson company has neither billed the clients nor recorded any of the revenue. If the appropriate adjusting entry is not made at the end of the year, what will be the effect on: (a) Income statement accounts (overstated, understated, or no effect)? (b) Net income (overstated, understated, or no effect)? (c) Balance sheet accounts (overstated, understated, or no effect)?
Answer:
(A) sales revenue: understated
gross profit: understated
(B) net income: understated
(C) Retained Earnings : understated
Unearned Services: overstated
Explanation:
(A) sales revenue will not represent the real sales attributable for the period. It will be 2,000 lower than it should be.
Ths will make gross profit be understated as well as is the difference between the sales and the COGS
(B) net income is understated as it do not include a revenue for 2,000 thus, is lower.
(C) unearned services is overstated has it should decrease by 2,000
RE is understate as will increase by the 2,00 additional net income.