Answer:
the information regarding the sales was missing, so I looked for similar questions:
The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.
Date Transactions Units Unit Cost Total Cost
March 1 Beginning inventory 20 $ 250 $ 5,000
March 5 Sale ($400 each) 15
March 9 Purchase 10 270 2,700
March 17 Sale ($450 each) 8
March 22 Purchase 10 280 2,800
March 27 Sale ($475 each) 12
March 30 Purchase 9 300 2,700 $ 13,200
Cost of good sold under specific identification:
March 5 sale = $250 x 15 = $3,750
March 17 sale = 8 x $270 = $2,160
March 27 sale = 12 x $280 = $3,360
total COGS = $9,270
Ending inventory = $13,200 - $9,270 = $3,930
Paul agrees to sell his clothing store to Michael and, as part of the sale, to execute a covenant not to compete promising not to open a similar store within one thousand miles for the next twenty years. A court reviewing the terms of the covenant would likely find that it is:________. a) unenforceable because all covenants not to compete are unreasonable. b) unreasonable as to both geographical scope and duration c) unreasonable with regard to duration d) enforceable
Answer:
d) enforceable
Explanation:
A court reviewing the terms of the covenant would likely find that it is enforceable. This is a standard clause found in many contracts and is also known as Non-compete clause. It is standard because a seller that has the experience of running a similar business can sell the business collect the profit from the sale and open create another similar business with little to no capital and quickly outperform their previous business due to the amount of experience that they have. In order to prevent this, many buyers require this clause to be added to the sales contract.
Mounts Corporation produces and sells two products. In the most recent month, Product I05L had sales of $32,000 and variable expenses of $10,880. Product P42T had sales of $45,000 and variable expenses of $18,380. And the fixed expenses of the entire company were $46,070. The break-even point in sales dollars for the entire company is closest to
A. $75,330
B. $74,306
C. $30,930
D. $46,070
Answer:
B. $74,306
Explanation:
First, we need to calculate contribution margin for both.
Product 105L
Sales $32,000
Less variable expenses ($10,880)
Contribution margin $21,120
Contribution margin ratio = Contribution margin ÷ Sales
= $21,120 ÷ $32,000
= 66%
Product P42T
Sales $45,000
Less variable expenses ($18,380)
Contribution margin $26,620
Contribution margin ratio = Contribution margin ÷ Sales
= $26,620 ÷ $45,000
= 59.2%
Total sales for both products $77,000
Less Total variable expenses ($29,260)
Total contribution margin $47,740
Total contribution margin ratio $47,740 ÷ $77,000 = 62%
Fixed expenses for both companies = $46,070
Therefore,
Break even point in sales for both companies = Total fixed expenses ÷ Contribution margin ratio
= $46,070 ÷ 62%
= $74,306.45
GAAP require state and local governments to include in their annual financial reports a budget-to-actual comparison showing actual results and original and final appropriated budgets. What are the advantages of requiring both the original and final appropriated budget amounts?
Answer:
The advantages of requiring both the original and final appropriated budget amounts are:
1. It enables comparison of original (static) budget with the final (flexible) budget.
2. From the comparison, management assesses performances based on actual performance versus original and final budgets respectively.
3. The significant changes based on the level of activity are easily determined.
Explanation:
The use of original and final budgets helps in the comparison with actual performance. It clearly shows the effect of the level of activity on budget performance.
On November 1, 2021, a company signed a $100,000, 6%, six-month note payable with the amount borrowed plus accrued interest due six months later on May 1, 2022. The company should report interest payable at December 31, 2021, in the amount of:___________. a. $ 0. b. $2,000 c. $3,000.d. $1,000
Answer:
The interest payable to be reported on 31 December 2021 will be of $1000.
Option d is the correct asnwer.
Explanation:
Under the accrual basis or principle of accounting, we match the revenue with the expenses and record the transactions in the period to which they relate to rather than when the cash is paid or received. This means that the interest payment that is accrued for time period relating to this year should be recorded as an expense in the current period and as a liability as it will be paid in the next period. Thus, the interest on the note relating to 2 months from November 2021 to December 2021 will be recorded as follows,
Interest expense = 100000 * 0.06 * 2/12 = 1000
31 Dec 2021
Interest expense 1000 Dr
Interest Payable 1000 Cr
Logano Driving Schoolâs 2017 balance sheet showed net fixed assets of $2.4 million, and the 2018 balance sheet showed net fixed assets of $3.3 million. The companyâs 2018 income statement showed a depreciation expense of $319,000.What was net capital spending for 2018? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, e.g., 1,234,567.)
Answer:
$1,219,000
Explanation:
Calculation for the net capital spending for 2018
Using this formula
2018 Net capital spending=(2018 Net fixed assets-2017 Net fixed assets)+Depreciation expense
Let plug in the formula
2018 Net capital spending=($3,300,000-$2,400,000)+$319,000
2018 Net capital spending=$900,000+$319,000
2018 Net capital spending=$1,219,000
Therefore the 2018 Net capital spending will be $1,219,000
In an effort to avoid recession, the government implements a tax rebate program, effectively cutting taxes for households. We would expect this to:_______. A. affect neither aggregate supply nor aggregate demand. B. increase aggregate demand. C. reduce aggregate demand. D. reduce aggregate supply.
Answer:
B. increase aggregate demand.
Explanation:
A recession can be defined as a period of significant fall in the economic performance such as employment, production, income level, sales of goods and services etc, of a particular country lasting over a few months.
In an effort to avoid recession, the government implements a tax rebate program, effectively cutting taxes for households. Thus, we would expect this to increase aggregate demand.
Aggregate demand (AD) can be defined as the total quantity of output (final goods and services) that is demanded by consumers at all possible price levels in an economy at a particular time.
On a standard Aggregate demand (AD)-Aggregate supply (AS) curve, the y axis denotes the Price (P) of goods and services while the x axis typically denotes the Output (Q) of final goods and services.
In the short-run, a rightward shift in the aggregate supply (AS) curve causes output to increase and result in a price fall (lower price) while a rightward shift in the aggregate demand (AD) curve also cause output to increase and rise in prices.
The short-run nominal fluctuations basically cause a change in the level of production. In the short-run, as a result of a shift in the aggregate supply; an increase in money consequently to result in increase the level of production (output).
Hence, more goods are produced as a result of the increased output (supply) and more goods would be purchased as a result of their lower prices.
Spiro Corp. uses the sum-of-the-years' digits method to depreciate equipment purchased in January year 1 for $20,000. The estimated salvage value of the equipment is $2,000 and the estimated useful life is four years. What should Spiro report as the asset's carrying amount as of December 31, year 3
Answer:
Carrying value on Dec 31, Year 3= $3,800
Explanation:
Depreciable amount = Cost - Salvage Value
Depreciable amount = 20,000-2,000
Depreciable amount = $18,000
Sum of years’ digits = 1+2+3+4 = 10
Depreciation for Year 1 = 18,000*4/10 = 7,200
Depreciation for Year 2 = 18,000*3/10 = $5,400
Depreciation for Year 3 = 18,000*2/10 = $3,600
Carrying value on Dec 31, Year 3 = Purchase cost - Depreciation
Carrying value on Dec 31, Year 3 = $20,000 - $7,200 - $5,400 - $3,600
Carrying value on Dec 31, Year 3= $3,800
For which capital component must you make a tax adjustment when calculating a firmâs weighted average cost of capital (WACC)?
a. Debt
b. Preferred stock
c. Equity
Answer:
a. Debt
Explanation:
For determining the weighted average cost of capital we used the after tax cost of debt as the interest expense is the tax deductible that represents that if there is any issue of debt so it would be decreased as of tax impact
Therefore as per the given situation, the debt is selected
hence, the option a is correct
And, all the other options are wrong
To make effective decisions in today's fast-moving world, managers need to ________.
Countries belonging to a ________ maintain whatever policies they see fit against nonmember countries.a) economic union.b) customs union.c) common market.d) free trade area.
Answer:
d) free trade area.
Explanation:
A free trade area refers to a region which comprises of a group of countries that have signed a free trade agreement to eliminate or reduce (limit) tariffs and non-tariffs or quotas among them.
A trade agreement can be defined as a pact or treaty signed between two or more countries to encourage the free flow (import and export) of goods and services among its members, as well as eliminating or reducing trade barriers such as quotas, tariffs on goods traded.
Trade agreements can cause jobs to go to countries that provide those jobs efficiently because all business entities or firms want to have competitive advantage over its rivals. Thus, business owners who have signed a treaty with other countries would tend to outsource or recruit workers from countries that provide their services efficiently.
Hence, countries belonging to a free trade area maintain whatever policies they see fit against nonmember countries
5. Suppose you are working in a ceramics factory and you are constructing control chart for an critical feature with batches of very fragile parts that common get broken during the measurements. You always start with 8 parts, but sometimes a few of them are broken while measuring them. What type of control chart would you construct and why
Explanation:
Analyzing the above scenario, the ideal type of control chart for construction would be the EWMA control chart integrated with the VSS and VSI control, because unlike traditional charts, it considers the variable sample size (VSS) and the variable sampling interval ( VSI) and therefore are more effective in considering the variations in the process in the control, which was what happened in the question above, since during the process of building the control chart there are some changes resulting from the breaking of the ceramic pieces, so it is ideal to build a graph that detects the changes in a more complete way.
You own a bond that pays $64 in interest annually. The face value is $1,000 and the current market price is $1,062.50. The bond matures in 30 years. What is the yield to maturity? (round your answer to two decimal places)
Answer:
the yield to maturity of this bond is 5.7%
Explanation:
given data
pays interest annually C = $64
face value F = $1,000
current market price P = $1,062.50
bond matures n = 30 years
solution
we get here yield to maturity that is express as
yield to maturity =
yield to maturity = [C+ (F-P) ÷ n] ÷ [(F+P) ÷ 2 ] .................1
put here value and we get
yield to maturity = [tex]\frac{64+(1000-1062.50)}{11}[/tex] ÷ [tex]\frac{(1,000+1,062.50)}{2}[/tex]
yield to maturity = 0.057
so that the yield to maturity of this bond is 5.7%
Effective teams have confidence in themselves and believe they can succeed. This confidence is called ________.
A) social facilitation
B) goal congruence
C) social loafing
D) team efficacy
E) self-serving bias
Answer:
D) team efficacy
Explanation:
Team efficacy can be defined as the joint or collective beliefs that the members of a team have in its capacity to effectively execute a specific project or task, accomplish its organizational set goals and objectives through the use of team efforts and skills.
Hence, effective teams have confidence in themselves and believe they can succeed. This confidence is called team efficacy because all the members of the team bring their own skills, viewpoints, experience, knowledge to achieve success.
What is product positioning
Answer:
There are positioning to be brought by a client
To exploit an expected increase in interest rates, an investor would most likely:_______.a. sell Treasury bond futures. b. take a long position in wheat futures.
Answer:
a. sell Treasury bond futures
Explanation:
To exploit an expected increase in interest rates, an investor would most likely sell Treasury bond futures. Since treasury bond prices are inversely related to interest rates, an increase in interest rates will cause a decline in price of treasury bonds. By selling Treasury Bond futures, investor will have short position which will benefit from the increase in interest rates.
Sam is evaluating a stock that is expected to pay a $1.64 per share dividend at the end of the current year. He expects the dividend to grow by 3.8% per year and has determined that 11% is an appropriate required return for the stock. What is the highest amount he should pay for the stock?
Answer:
10,900
Explanation:
The First National Bank recently acquired three mortgages from the failed Fargo Bank. It estimates that the chances of these mortgages being repaid are 0.6, 0.4, 0.25. Assuming independence, fine the probability that:_________.
Answer:
a. 0.06
b. 0.18
Explanation:
a) all of them will be repaid
b) none of them will be repaid
P1 = 0.6, P2= 0.4, P3 = 0.25
a. The Probability that all will be repaid = (P1∩P2∩P3)
= P1 * P2 * P3 (Since independent)
= 0.6*0.4*0.25
= 0.06
Thus, the Probability that all will be repaid is 0.06
b. The Probability that none of them will be repaid = (1-P1)*(1-P2)*(1-P3)
= (1-0.6)(1-0.4)(1-0.75)
= 0.4 * 0.6 * 0.75
= 0.18
Thus, the Probability that none of them will be repaid is 0.18
Price discrimination: Multiple Choice tends to decrease the profits of the competitive firm. is more successful if one consumer can resell the product to another. can benefit consumers with a lower willingness to pay as compared to other consumers in the market. can be a successful strategy for any firm in a competitive market.
Answer:
can benefit consumers with a lower willingness to pay as compared to other consumers in the market.
Explanation:
Price discrimination occurs when a supplier sells a product to different customers at different prices.
The criteria for discrimination can be as a result of income, social class, demographics and so on.
Price discrimination is not a good strategy in a competitive market as consumers will move to other suppliers when the price is not conducive.
However a consumer who is less willing to buy the product can benefit from this because the supplier is open to lowering the price depending on certain criteria
The management of Kelso is considering the elimination of the Eastern Division. If the Eastern Division were eliminated, the direct fixed costs associated with this division could be avoided. Given these data, the impact on net income of dropping the Eastern division would be: a. $140,000 Decrease b. $70,000 Increase c. $240,000 Decrease d. $30,000 Increase
Answer:
I could not find the exact details required to solve this so I will use a similar question that you can reference;
The impact of dropping the Eastern division is;
= Consolidated operating income + Direct Fixed costs avoided - Contribution margin lost
= (-75,000 + 15,000) + 180,000 - ( 550,000 - 275,000)
= -60,000 + 180,000 - 275,000
= -$155,000
Loss of $155,000
Production Budget
Pasadena Candle Inc. projected sales of 72,000 candles for January. The estimated January 1 inventory is 3,600 units, and the desired January 31 inventory is 7,000 units. Prepare a production budget report in units for Pasadena Candle Inc.
Pasadena Candle Inc.
Production Budget
For the Month Ending January 31
Expected units to be sold 800,000
Desired ending inventory, December 31 20,000
Total units available 350,000
Estimated beginning inventory, January 1 35,000
Total units to be produced 785,000
Answer and Explanation:
The preparation of the production budget is presented below:
Production budget
Expected units to be sold 800,000
Add: Desired ending inventory, December 31 20,000
Total units available 820,000
Less: Estimated beginning inventory, January 1 -35,000
Total units to be produced 785,000
We simply added the ending inventory and deduct the beginning inventory to the units sold
On November 19, Hayes Company receives a $15,000, 60-day, 10% note from a customer as payment on his account. What adjusting entry should be made on the December 31 year-end?
A) Debit Interest Receivable $175; credit Interest Revenue $175.
B) Debit Interest Receivable $250; credit Interest Revenue $250.
C) Debit Interest Receivable $75; credit Interest Revenue $75.
D) Debit Interest Revenue $175; credit Interest Receivable $175.
E) Debit Interest Revenue $250; credit Interest Receivable $250.
Answer:
A) Debit Interest Receivable $175; credit Interest Revenue $175.
Explanation:
The adjusting entry that made as on December 31 is shown below;
Interest receivable Dr $175
To Interest revenue $175
(Being the interest receivable is recorded)
The computation is shown below:
= $15,000 × 10% × 42 days ÷ 360 days
= $175
The 42 days are from November 19 to December 31
Here the interest receivable is debited as it increased the assets and credited the interest revenue as it also increased the revenue
An annuity pays $500 every six months for 5 years. The annual rate of interest is 8% convertible semiannually. Find each of the following: (a) The PV of the annuity six months (one period) before the first payment, (b) the PV of the annuity on the day of the first payment, (c) the FV of the annuity on the day of the last payment, (d) and the FV of the annuity six months after the last payment.
Answer:
(a) The PV of the annuity six months (one period) before the first payment,
PV ordinary annuity = $500 x 8.1109 (PV annuity factor, 10 periods, 4%) = $4,055.45
(b) the PV of the annuity on the day of the first payment,
PV annuity due = $500 x 8.43533 (PV annuity due factor, 10 periods, 4%) = $4,217.67
(c) the FV of the annuity on the day of the last payment,
FV = $500 x 12.00611 (FV annuity factor, 4%, 10 periods) = $6,003.06
(d) and the FV of the annuity six months after the last payment.
FV = $6,003.06 x (1 + 4%) = $6,243.18
Burnett Corp. pays a constant $8.90 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 11 percent, what is the current share price?
Answer:
Price today = $57.78196973 rounded off to $57.78
Explanation:
The dividends paid by the stock can be said to be in the form of an annuity as the dividend payment is constant, it occurs after equal interval of time and it is expected for a finite or limited period of time. These satisfy the conditions of being an annuity. We assume that the dividend are paid at the end of the year and this is in form of an ordinary annuity.
To calculate the present value of the stock today, we will use the formula for present value of ordinary annuity. The formula for present value of annuity is attached.
Price today = 8.9 * [ (1 - (1+0.11)^-12) / 0.11 ]
Price today = $57.78196973 rounded off to $57.78
You are the strategic leader of a highly competitive electronics company, Anderson Inc. Anderson Inc. is a global leader in electronics sales to corporate and international customers. The competitive nature of the market is creating the need to implement new and well researched strategies and online tools in order to compete with another company that is taking contracts from your organization daily. This other company, Henkerson Inc., is offering products at a slightly lower cost. Their customer service ratings, however, are much lower than Anderson Inc.
Anderson’s customer service could be superior as a result of :_________
Answer:
The options are missing, so I looked for similar questions. The option that I believe is correct is:
A good reputation for having few OOS (out-of-stock) problems when fulfilling large orders.Customer service is extremely important in today's world were competition is fierce and global. The less competition, the less value customer service has, but companies from around the world compete against each other. E.g. if you do not like how some salespeople treat you at a certain store, you can go online and buy the same products from a retailer 2,000 miles away. You must always remember that keeping old customers happy and loyal is always much easier and cheaper than getting new customers.
In a B2B environment, costs are important, and any difference in costs is much more important because the quantities sold are larger. But if the company that sells the lower priced products offers a terrible customer service and is not able to fulfill orders in time, then B2B clients will leave them because time is money. Th elonger the lead time, the higher the stockout probabilities and you require a larger safety stock which costs money.
When you draw Refine marks, the lines essentially indicate __________ to keep or remove in the background.
Answer:
Colors
Explanation:
Roland had revenues of $601,000 in March. Fixed costs in March were $212,520 and profit was $51,920. A. What was the contribution margin percentage?B. What monthly sales volume (in dollars) would be needed to break-even?
c. What sales volume (in dollars) would be needed to earn $169,420?
Answer: See explanation
Explanation:
Revenue = $601,000
Fixed costs = $212,520
Profit = $51,920
A. A. What was the contribution margin percentage?
Contribution margin will be calculated as:
= (Fixed cost + Profit) / Revenue
= ($212520 +$51920) / $601,000
= $264440 / $601000
= 44%.
B. What monthly sales volume (in dollars) would be needed to break-even?
The break even point sales will be:
= Fixed cost / Contribution margin
= $212520 / 44%
= $212520 / 0.44
= $483000
C. What sales volume (in dollars) would be needed to earn $169,420?
This will be:
= (FC+DP) / Contribution margin
= (212520 + 169420)/0.44
= $381940/0.44
= $868045.45
Suppose Shaan invested just $10,000 of his own money and had a $90,000 mortgage with an interest rate of 8.5 percent. After three years, he sold the property for $120,000.
(a) What is his gross profit?
(b) What is his net profit or loss? (Input the amount as a positive value.)
(c) What is the rate of return on investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places.)
Answer:
a. $20,000
b. -$2,950
c. -29.50%
Explanation:
The computation is shown below:
a. Gross Profit is
= Sale value of Property - Invested amount - Mortgage amount
= $120,000 - $10,000 - $90,000
= $20,000
b. Net Profit
= Gross profit - number of years × mortgage amount × rate of interest
= $20,000 - 3 × $90,000 × 8.5%
= -$2,950
And,
c) Rate of return is
= Net profit ÷ invested amount
= -$2,950 ÷ $10,000
= -29.50%
Do mountains last forever?
Answer:
no eventually they die
Answer:
no mountains do not last forever..
Explanation:
the reaseon for that is root wedging and weathering of rocks
Dissatisfaction with public school education has led many parents to try home schooling for their children. If parents reduce their work from a full-time to a part-time load in order to spend time teaching their children at home, how will this affect GDP?
a. Real GDP will increase and nominal GDP will decrease a
b. Both real and nominal GDP will increase.
c. GDP will stay the same
d. GDP will decrease.
Answer:
d. GDP will decrease.
Explanation:
GDP: In economics, the term "GDP" is also referred to as "Gross domestic product", and is described as the standard measure of the value being added and is created via the production of services and goods in a particular country during a specific period. Along with this, GDP also measures the income received or earned by those production in the country, or the total amount that is being spent on the final services and goods.
In the question above, the correct answer is option-d.
Hutter Corporation declared a $0.50 per share cash dividend on its common shares. The company has 33,000 shares authorized, 16,800 shares issued, and 13,200 shares of common stock outstanding. The journal entry to record the dividend declaration is: