Answer:
A
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
Because price is below equilibrium price, consumer surplus would increase and producer surplus would reduce
The Duerr Company manufactures a single product. All raw materials used are traceable to specific units of product. Current information for the Duerr Company follows:
Beginning raw materials inventory $28,000
Ending raw materials inventory 31,000
Raw material purchases 105,000
Beginning work in process inventory 40,000
Ending work in process inventory 50,000
Direct labor 130,000
Total factory overhead 105,000
Beginning finished goods inventory 80,000
Ending finished goods inventory 60,000
The company's cost of raw materials used, cost of goods manufactured and cost of goods sold is:________.
A. Cost of Materials Used Cost of Goods Manufactured Cost of Goods Sold
$105,000 $327,000 $307,000
B. $100,000 $327,000 $342.000
Answer:
Direct material used= $102,000
Cost of goods manufactured= $327,000
COGS= $347,000
Explanation:
First, we need to calculate the cost of direct material used:
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 28,000 + 105,000 - 31,000
Direct material used= $102,000
Now, the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 40,000 + 102,000 + 130,000 + 105,000 - 50,000
cost of goods manufactured= $327,000
Finally, the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 80,000 + 327,000 - 60,000
COGS= $347,000
A materials requisition slip showed that direct materials requested were $66000 and indirect materials requested were $15000.
The entry to record the transfer of materials from the storeroom is
1. Work In Process Inventory 66000
Manufacturing Overhead 15000
2. Raw Materials Inventory 81000
Work In Process Inventory 66000
3. Raw Materials Inventory 66000
Direct Materials 66000
4. Indirect Materials 15000
Work in Process Inventory 81000
5. Manufacturing Overhead 81000
Raw Materials Inventory 81000
Answer:
Work In Process Inventory $66,000
Manufacturing overhead $15,000
To Raw Materials Inventory $81,000
Explanation:
The journal entry is shown below;
Work In Process Inventory $66,000
Manufacturing overhead $15,000
To Raw Materials Inventory $81,000
(Being the transfer of material is recorded)
here the work in process inventory and manfacturing overhead is debited as it increased the assets and expense and credited the raw material inventory as it reduced the assets
A team member who supports the team by performing his or her assigned duties is a
persuader
subordinate
team leader
project facilitator
Answer:
team leader
Explanation:
Wildhorse Warehouse distributes hardback books to retail stores and extends credit terms of 4/10, n/30 to all of its customers. During the month of June, the following merchandising transactions occurred. June 1 Purchased books on account for $2,265 (including freight) from Catlin Publishers, terms 4/10, n/30. 3 Sold books on account to Garfunkel Bookstore for $1,400. The cost of the merchandise sold was $800. 6 Received $65 credit for books returned to Catlin Publishers. 9 Paid Catlin Publishers in full. 15 Received payment in full from Garfunkel Bookstore. 17 Sold books on account to Bell Tower for $1,000, terms of 4/10, n/30. The cost of the merchandise sold was $850. 20 Purchased books on account for $800 from Priceless Book Publishers, terms 3/15, n/30. 24 Received payment in full, less discount from Bell Tower. 26 Paid Priceless Book Publishers in full. 28 Sold books on account to General Bookstore for $2,950. The cost of the merchandise sold was $830. 30 Granted General Bookstore $120 credit for books returned costing $60. Journalize the transactions for the month of June for Wildhorse Warehouse, using a perpetual inventor
Answer:
Wildhorse Warehouse
Journal Entries:
June 1: Debit Inventory $2,265
Credit Accounts payable (Catlin Publishers) $2,265
To record the purchase of goods on account, terms 4/10, n/30.
June 3: Debit Accounts receivable (Garfunkel Bookstore) $1,400
Credit Sales Revenue $1,400
To record the sale of goods on account.
June 3: Debit Cost of goods sold $800
Credit Inventory $800
To record the cost of goods sold.
June 6: Debit Accounts payable (Catlin Publishers) $65
Credit Inventory $65
To record the return of goods on account.
June 9: Debit Accounts payable (Catlin Publishers) $2,200
Credit Cash $2,112
Credit Cash Discounts $88
To record the payment on account.
June 15: Debit Cash $1,400
Credit Accounts receivable (Garfunkel Bookstore) $1,400
To record the receipt of cash on account.
June 17: Debit Accounts receivable (Bell Tower) $1,000
Credit Sales Revenue $1,000
To record the sale of goods on account.
June 17: Debit Cost of goods sold $850
Credit Inventory $850
To record the cost of goods sold.
June 20: Debit Inventory $800
Credit Accounts payable (Priceless Book Publishers) $800
To record the purchase of goods on account, terms 3/15, n/30.
June 24: Debit Cash $960
Debit Cash Discounts $40
Credit Accounts receivable (Bell Tower) $1,000
To record the receipt of cash on account.
June 26: Debit Accounts payable (Priceless Book Publishers) $800
Credit Cash $776
Credit Cash Discounts $24
To record the payment on account.
June 28: Debit Accounts receivable (General Bookstore) $2,950
Credit Sales Revenue $2,950
To receive the sale of goods on account.
June 28: Debit Cost of goods sold $830
Credit Inventory $830
To record the cost of goods sold.
June 30: Debit Sales Return $120
Credit Accounts receivable (General Bookstore) $120
To record the return of goods by a customer.
June 30: Inventory $60 Cost of Goods Sold $60
Explanation:
a) Data and Analysis:
Credit terms to all customers = 4/10, n/30. This means that 4% discount is allowed to customers who pay within 10 days. The credit period is for 30 days, after which the customer is expected to pay interest.
June 1: Inventory $2,265 Accounts payable (Catlin Publishers) $2,265; terms 4/10, n/30.
June 3: Accounts receivable (Garfunkel Bookstore) $1,400 Sales Revenue $1,400
June 3: Cost of goods sold $800 Inventory $800
June 6: Accounts payable (Catlin Publishers) $65 Inventory $65
June 9: Accounts payable (Catlin Publishers) $2,200 Cash $2,112 Cash Discounts $88.
June 15: Cash $1,400 Accounts receivable (Garfunkel Bookstore) $1,400
June 17: Accounts receivable (Bell Tower) $1,000 Sales Revenue $1,000
June 17: Cost of goods sold $850 Inventory $850
June 20: Inventory $800 Accounts payable (Priceless Book Publishers) $800; terms 3/15, n/30.
June 24: Cash $960 Cash Discounts $40 Accounts receivable (Bell Tower) $1,000
June 26: Accounts payable (Priceless Book Publishers) $800 Cash $776 Cash Discounts $24
June 28: Accounts receivable (General Bookstore) $2,950 Sales Revenue $2,950
June 28: Cost of goods sold $830 Inventory $830
June 30: Sales Return $120 Accounts receivable (General Bookstore) $120
June 30: Inventory $60 Cost of Goods Sold $60
Wriston Company is preparing its cash budget for the upcoming month. The beginning cash balance for the month is expected to be $15,000. Budgeted cash disbursements are $72,500, while budgeted cash receipts are $89,600. Wriston Company wants to have an ending cash balance of $30,000. The excess (deficiency) of cash available over disbursements for the month would be
Answer:
$2,100
Explanation:
Cash Available = Opening Balance + Receipts - Disbursements - Desired Balance
= $15,000 +$89,600 - $72,500 - $30,000
= $2,100
Therefore,
The excess of cash available over disbursements for the month would be $2,100
The balance cash available after disbursement will be $2,100.
What is cash balance?Cash balance refers to the amount of cash that is available after paying off for the expenses. The cash balance is calculated using the following formula:
[tex]\rm Cash\:balance = Beginning\:balance + Receipts - Disbursements - Desired \:Balance\\\\\rm Cash\:balance = \$15,000 + \$89,600 - \$72,500 - \$30,000\\\\\rm Cash\:balance = \$2,100[/tex]
Therefore the cash balance after disbursement is $2,100.
Learn more about cash balance here:
https://brainly.com/question/27062172
On January 4, 2019, the DJIA opened at 10,097.90. The divisor at that time was .147621194. In January 2019, Boeing was the highest-priced stock in the DJIA and Cisco was the lowest. The closing price for Boeing on January 3, 2019, was $340.90, and the closing price for Cisco was $43.47. Suppose the next day the other 29 stock prices remained unchanged and Boeing increased 3.2 percent. What would the new DJIA level be
The question is incomplete. The complete question is :
On January 4, 2019, the DJIA opened at 10,097.90. The divisor at that time was .147621194. In January 2019, Boeing was the highest-priced stock in the DJIA and Cisco was the lowest. The closing price for Boeing on January 3, 2019, was $340.90, and the closing price for Cisco was $43.47. Suppose the next day the other 29 stock prices remained unchanged and Boeing increased 3.2 percent. What would the new DJIA level be :
1. DIJA if Boeing increases 3.2 percent
2. DIJA if Cisco increases 3.2 percent
Solution :
On 3 Jan 2019, Boeing = $ 340.90, Cisco = $ 43.47
DJIA = 10,097.90
Divisor = 0.147621194
Index value = [tex]$\frac{\text{value of all shares}}{\text{divisor}}$[/tex]
Then the value of shares,
[tex]$10097=\frac{\text{value of all shares}}{\text{0.147621194}}$[/tex]
Value of all shares = 10097 x 0.147621194
= 1490.664
The other 29 stock prices remain unchanged, then we add the increased value of a stock to total value after divide by divisor, then we get the Index value.
The new DJIA level :
1. When Boeing increases 3.2 %
Increases in the value of Boeing = [tex]$340.90 \times 3.2\%$[/tex]
= 1501.5728
The new DJIA level = [tex]$\frac{1501.5728}{0.1476211}$[/tex]
= 10171.80
2. When Cisco increases 3.2 %
Increases in the value of Cisco = [tex]$43.47 \times 3.2\%$[/tex]
= 1.39104
Total value of the shares = 1490.664 + 1.39104
= 1492.055
The new DJIA level = [tex]$\frac{1492.055}{0.1476211}$[/tex]
= 10107.32
Orchard Fresh, Inc., purchases apples from local orchards and sorts them into four categories. Grade A are large blemish-free apples that can be sold to gourmet fruit sellers. Grade B apples are smaller and may be slightly out of proportion. These are packed in boxes and sold to grocery stores. Apples for slices are even smaller than Grade B apples and have blemishes. Apples for applesauce are of lower grade than apples for slices, yet still suitable for canning. Information on a recent purchase of 20,000 pounds of apples is as follows: Assume that Orchard Fresh, Inc., uses the sales-value-at-split-off method of joint cost allocation and has provided the following information about the four grades of apples:
Grades Pounds Price at Split-Off(per Ib.)
Grade A $1,600 $4.00
Grade B $5,000 1.00
Splices $8,000 0.50
Applesauce $5,400 0.10
Total $20,000
Total joint cost is $18,000.
Required:
1. Allocate the joint cost to the four grades of apples using the sales-value-at-split-off method.
2. What if the price at split-off of Grade B apples increased to $1.20 per pound? How would that affect the allocation of cost to Grade B apples? How would it affect the allocation of cost to the remaining grades?
Answer:
Orchard Fresh, Inc.
1. Allocation of the joint cost to the four grades of apples using the sales-value-at-split-off method:
Total joint cost allocation rate is $18,000/$20,000 = $0.90
Grade A $1,600 * $0.90 = $1,440
Grade B $5,000 * $0.90 = $4,500
Splices $8,000 * $0.90 = $7,200
Applesauce $5,400 * $0.90 = $4,860
Total allocated costs $18,000
2. When Grades B apples price increased to $1.20 per pound:
Total joint cost allocation rate is $18,000/$21,000 = $0.857
Grade A $1,600 * $0.857 = $1,371
Grade B $6,000 * $0.857 = $5,142
Splices $8,000 * $0.857 = $6,856
Applesauce $5,400 * $0.857 = $4,628
Total allocated costs $17,997
Explanation:
a) Data and Calculations:
Grades Pounds Total costs Price at Split-
Off(per Ib.)
Grade A 400 $1,600 $4.00
Grade B 5,000 $5,000 1.00
Splices 16,000 $8,000 0.50
Applesauce 54,000 $5,400 0.10
Total $20,000
Joint cost = $18,000
Allocation of joint costs:
Total joint cost is $18,000/$20,000 = $0.90
Grade A $1,600 * $0.90 = $1,440
Grade B $5,000 * $0.90 = $4,500
Splices $8,000 * $0.90 = $7,200
Applesauce $5,400 * $0.90 = $4,860
Total allocated costs $18,000
Total joint cost is $18,000/$21,000 = $0.857
Grade A $1,600 * $0.857 = $1,371
Grade B $6,000 * $0.857 = $5,142
Splices $8,000 * $0.857 = $6,856
Applesauce $5,400 * $0.857 = $4,628
Total allocated costs $17,997
The carrying value of a long-term note payable is computed as: Group of answer choices The present value of all remaining interest payments, discounted using the current market rate of interest. The future value of all remaining payments, using the market rate of interest. The present value of all remaining payments, discounted using the market rate of interest at the time of issuance. The face value of the long-term note plus the total of all future interest payments. The face value of the long-term note less the total of all future interest payments.
Answer:
The present value of all remaining payments, discounted using the market rate of interest at the time of issuance.
Explanation:
The carrying value of the long term note payable should be shown on the liabilities side of the balance sheet so it would be determined by considering the present value of all the left amount and then apply the market rate of interest of issuance time
Therefore the above represent the answer
the management team at electronics galaxy is evaluating whether or not to have sales staff wear uniforms on the showroom floor. what should they consider about wearing uniforms?
A. how staff are dressed doesn't usually have much of an impact on customers
b. Uniforms can help customers identify members of the sales staff
c. team morales usually suffers when uniforms are put in place
d. Uniforms can take away from each employees individual personality
Answer:
b. Uniforms can help customers identify members of the sales staff
Explanation:
When evaluating whether or not to have sales staff wear uniforms on the showroom floor. What the electronics galaxy should consider about wearing uniforms is that "Uniforms can help customers identify members of the sales staff."
As customers come in to buy their products, they can quickly know the sales staff, and approach them to describe the type of. the product they came for and eventually buy the product if satisfied.
On July 1, 2020, the beginning of its fiscal year, Ridgedale County recorded gross property tax levies of $5,100,000. The county estimated that 3 percent of the taxes levied would be uncollectible. As of April 30, 2021, the due date for all property taxes, the county had collected $4,755,000 in taxes. During the current fiscal year, the county collected $57,500 in delinquent taxes and $5,700 in interest and penalties on the delinquent taxes. The county imposed penalties and interest in the amount of $15,400 but only expects to collect $13,250 of that amount. At the end of the fiscal year (June 30, 2021), uncollected taxes, interest, and penalties are reclassified. They are not expected to be collected within the first 60 days for the following fiscal year.
Required
a. Record entries for the above transactions as stated.
b. Prepare journal entries to record the tax levy on July 1, 2020, in the General Fund.
Answer:
Dr Taxes Receivable- Current $5,100,000
Cr Allowance for Uncollectible Current Taxes $153,000
Cr. Revenues $4,947,000
Dr Cash $4,755,000
Cr Taxes Receivable-Current $4,755,000
Dr Taxes Receivable-Delinquent $345,000
Dr Allowance for Uncollectible Current Taxes $153,000
Cr Taxes Receivable-Current $345,000
Cr Allowance for Uncollectible Delinquent Taxes $153,000
(3%*$5,100,000)
Dr Interest & Penalties on Delinquent Taxes $15,400
Cr Allowance for Uncollectible Interest and Penalties $2,150
Cr Revenues $13,250
Dr Cash $63,200
Cr Taxes Receivable-Delinquent $57,500
Cr Interest & Penalties Receivable on Taxes $5,700
Explanation:
Preparation of the journal entries to Record entries for the transactions as stated and to Prepare the journal entries to record the tax levy on July 1, 2020, in the General Fund
Dr Taxes Receivable- Current $5,100,000
Cr Allowance for Uncollectible Current Taxes $153,000
(3%*$5,100,000)
Cr Revenues $4,947,000
($5,100,000-$153,000)
Dr Cash $4,755,000
Cr Taxes Receivable-Current $4,755,000
Dr Taxes Receivable-Delinquent $345,000
$5,100,000-$4,755,000)
Dr Allowance for Uncollectible Current Taxes $153,000
(3%*$5,100,000)
Cr Taxes Receivable-Current $345,000
Cr Allowance for Uncollectible Delinquent Taxes $153,000
(3%*$5,100,000)
Dr Interest & Penalties on Delinquent Taxes $15,400
Cr Allowance for Uncollectible Interest and Penalties $2,150
($15,400-$13,250)
Cr Revenues $13,250
Dr Cash $63,200
( $57,500+$5,700)
Cr Taxes Receivable--Delinquent $57,500
Cr Interest & Penalties Receivable on Taxes $5,700
Refer to the following lease amortization schedule. The 10 payments are made annually starting with the beginning of the lease. Title does not transfer to the lessee and there is no purchase option or guaranteed residual value. The asset has an expected economic life of 12 years. The lease is noncancelable.
Payment Cash Payment Effective Interest Decrease in balance Outstanding Balance
87,867
1 13,000 13,000 74,867
2 13,000 7,487 5,513 69,354
3 13,000 6,935 6,065 63,289
4 13,000 6,329 6,671 56,618
5 13,000 5,662 7,338 49,280
6 13,000 4,928 8,072 41,208
7 13,000 4,121 8,879 32,329
8 13,000 3,233 9,767 22,562
9 13,000 ? ? ?
10 13,000 ? ? ?
Required:
a. What is the effective annual interest rate?
b. What would the lessee record as annual amortization on the right-of-use asset using the straight-line method?
c. What is the outstanding balance after payment 9?
Answer:
Lease Amortization Schedule
a. The effective annual interest rate is:
= 10%.
b. The amount that the lessee would record as annual amortization on the right-of-use asset using the straight-line method is:
= $8,786.70
c. The outstanding balance after payment 9 is:
= $11,818.
Explanation:
a) Data and Calculations:
Payment Cash Payment Effective Decrease Outstanding
Interest in balance Balance
87,867
1 13,000 13,000 74,867
2 13,000 7,487 5,513 69,354
3 13,000 6,935 6,065 63,289
4 13,000 6,329 6,671 56,618
5 13,000 5,662 7,338 49,280
6 13,000 4,928 8,072 41,208
7 13,000 4,121 8,879 32,329
8 13,000 3,233 9,767 22,562
9 13,000 2,256 10,744 11,818
10 13,000 1,182 11,818 0
b) The effective annual interest rate = (1+i/n)^n - 1
where i = stated interest rate
and n = number of compounding periods (10 years)
= Effective interest/Outstanding balance
For example for year 10, the rate = $1,182/$11,818 * 100 = 10%
Using the straight-line method, annual amortization on the right-of-use asset = $87,867/10 = $8,786.70
The outstanding balance after payment 9 = $11,818 which is paid in year 10 with an interest of $1,182.
In preparing a company's statement of cash flows for the most recent year, the following information is available:
Loss on the sale of equipment $14,100
Purchase of equipment 146,000
Proceeds from the sale of equipment 127,000
Re-payment of outstanding bonds 87,500
Purchase of treasury stock 62,500
Issuance of common stock 96,500
Purchase of land 116,000
Increase in accounts receivable during the year 43,500
Decrease in accounts payable during the year 75,500
Payment of cash dividends 35,500
Net cash flows from investing activities for the year were:______.
a. $128,100 of net cash used.
b. $143,000 of net cash used.
c. $270,000 of net cash used.
d. $143,000 of net cash provided.
e. $234,500 of net cash provided.
Answer:
$135,000 of net cash used
Explanation:
Cashflow from Investing Activities Section
Purchase of equipment (146,000)
Proceeds from the sale of equipment 127,000
Purchase of land (116,000)
Net Cash from Investing Activities (135,000)
therefore,
Net cash flows from investing activities for the year were ($135,000)
Thanksgiving Inc. sells an average of 200 turkeys weekly, with a standard deviation of 25 (assume a normal distribution). Turkey inventory levels are reviewed every four weeks and it takes two weeks to receive a shipment. Assume Thanksgiving Inc. reviews their inventory two weeks before the Thanksgiving and finds 150 turkeys on hand. Thanksgiving Inc. uses a service level of 95% (z=1.645).
Required:
How many turkeys should Thanksgiving Inc. order?
Answer:
the number of turkeys is 1,154 units
Explanation:
The computation of the number of turkeys is shown below:
= Demand (weeks) + service level of 95% √weeks × standard deviation - turkeys on hand
= 200 (4 +2) + 1.65√4 + 2 × 25 - 150
= 1200 + 101.04 - 150
= 1,154 units
hence, the number of turkeys is 1,154 units
Routsong Corporation had the following sales and production for the past four years:
Year 1 Year 2 Year 3 Year 4
Production in units 6,000 9,000 4,000 5,000
Sales in units 6,000 6,000 5,000 7,000
Selling price per unit, variable cost per unit, and total fixed cost are the same each year. There were no beginning inventories in Year 1. Which of the following statements is not correct?
A. Under variable costing, net operating income for Year 1 and Year 2 would be the same.B. Because of the changes in production levels, under variable costing the unit product cost will change each year.C. The total net operating income for all four years combined would be the same under variable and absorption costing.D. Under absorption costing, net operating income in Year 4 would be less than the net operating income in Year 2.
Answer:
B. Because of the changes in production levels, under variable costing the unit product cost will change each year
Explanation:
In variable costing, Product Cost is the total of variable manufacturing costs only. Whereas in Absorption costing, the Product cost is the total of both variable and fixed manufacturing overheads.
The following statements is not correct : Because of the changes in production levels, under variable costing the unit product cost will change each year.
Riverside Oil Company in eastern Kentucky produces regular and supreme gasoline. Each barrel of regular sells for $21 and must have an octane rating of at least 90. Each barrel of supreme sells for $25 and must have an octane rating of at least 97. Each of these types of gasoline are manufactured by mixing different quantities of the following three inputs:
Input Cost per Barrel Octane Rating Barrels Available in (1000s)
1 $17.25 100 150
2 $15.75 87 350
3 $17.75 110 300
Riverside has orders for 300,000 barrels of regular and 450,000 barrels of supreme. How should the company allocate the available inputs to the production of regular and supreme gasoline to maximize profits?
a. Formulate and LP model for this problem.
b. What is the optimal solution?
Solution :
Here,
[tex]$X_{iR}$[/tex] = the number of the barrels mixed i to manufacture the regular gasoline
[tex]$X_{iS}$[/tex] = the number of the barrels mixed i to manufacture the supreme gasoline.
The [tex]$\text{selling price}$[/tex] of each of the barrel of both gasoline is [tex]$\$ 21$[/tex] and [tex]$\$25$[/tex]. So the total [tex]$\text{selling price}$[/tex] of both types of gasoline is represented by :
[tex]$21 \times \sum X_{iR} +25 \times \sum X_{iS}$[/tex]
The cost prices of one barrel of the three types of input are 17.25, 1575 and 17.75.
So the total price is represented by :
[tex]$17.25 \times (X_{iR}+X_{iS})+15.75 \times (X_{2R}+X_{2S})+17.75 \times (X_{3R}+X_{3S})$[/tex]
The company wants to increase the profit. So maximize objective function will be used.
Max Z = [tex]$(21. \times \sum X_{iR} +24 \times \sum X_{iS})-[17.25 \times (X_{iR}+X_{iS})+17.75 \times (X_{2R}+X_{2S})+17.75 \times (X_{3R}+X_{3S})]$[/tex]The company has 150,000 barrels of input 1 available. So,
[tex]$X_{1R}+ X_{1S} \leq 150,000$[/tex]
[tex]$X_{2R}+ X_{2S} \leq 350,000$[/tex]
[tex]$X_{3R}+ X_{3S} \leq 300,000$[/tex]
The company got an order to sell 300,000 barrels of regular and 450,000 barrels of supreme gasoline. So,
[tex]$X_{1R}+X_{2R}+X_{3R} = 300,000$[/tex]
[tex]$X_{1S}+X_{2S}+X_{3S} = 450,000$[/tex]
The company wishes the regular gasoline to have octane number of at least 90. So,
[tex]$\frac{100 \times X_{1R}+87 \times X_{2R} +10 \times X_{3R}}{\sum X_{iR}}\geq 90$[/tex]
The company wishes the supreme gasoline to have octane number of at least 97. So,
[tex]$\frac{100 \times X_{1S}+87 \times X_{2S} +10 \times X_{3S}}{\sum X_{iR}}\geq 97$[/tex]
Formulating the LP model :
Max :
[tex]$[21 \times \sum X_{iR}+25 \times \sum X_{iS}]$[/tex] [tex]$-[17.25 \times (X_{1R}+X_{1S})+15.75 \times (X_{2R}+X_{2S})+17.75 \times (X_{3R}+X_{3S})]$[/tex]
Subject to :
[tex]$X_{1R}+ X_{1S} \leq 150,000$[/tex]
[tex]$X_{2R}+ X_{2S} \leq 350,000$[/tex]
[tex]$X_{3R}+ X_{3S} \leq 300,000$[/tex]
Also,
[tex]$X_{1R}+X_{2R}+X_{3R} = 300,000$[/tex]
[tex]$X_{1S}+X_{2S}+X_{3S} = 450,000$[/tex]
[tex]$\frac{100 \times X_{1R}+87 \times X_{2R} +10 \times X_{3R}}{\sum X_{iR}}\geq 90$[/tex]
[tex]$\frac{100 \times X_{1S}+87 \times X_{2S} +10 \times X_{3S}}{\sum X_{iR}}\geq 97$[/tex]
What is the primary purpose of a rating service company such as A.M Best?
Answer:
the primary purpose of a rating service company, such as AM Best is To determine financial strength of an insurance company. Protect consumers with guidelines regarding credit reporting and distribution..
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capital economical definition
Answer:
In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. ... In classical economics, capital is one of the four factors of production. The others are land, labor and organization
Answer: In economics, capital consists of human-created assets that can enhance one's power to perform economically useful work. ... Capital goods, real capital, or capital assets are already-produced, durable goods or any non-financial asset that is used in production of goods or services.
Explanation:
The following income statements are provided for Li Company's last two years of operation: Year 1 Year 2 Number of units produced and sold 3,500 3,000 Sales revenue $ 101,500 $ 87,000 Cost of goods sold 68,000 60,000 Gross margin 33,500 27,000 General, selling, and administrative expenses 13,000 12,000 Net income $ 20,500 $ 15,000 Assuming that cost behavior did not change over the two-year period, what is the annual amount of the company's fixed manufacturing overhead
760000
Explanation:
trust the process
Which of the following statements is true of browse-wrap agreements?
Answer:
Im sorry I dont see anything? Theres no pictures.
What is a learning outcome for sales
Answer: A Learning Outcome (LO) is a measurable, observable, and specific statement that clearly indicates what a student should know and be able to do as a result of learning. Well-written learning outcomes involve the following parts: Action verb. Subject content.
Explanation: Children have a strong sense of identity.
Children are connected with and contribute to their world.
Children have a strong sense of wellbeing.
Children are confident and involved learners.
Children are effective communicators.
At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 913,000 Credit sales 313,000 Its year-end unadjusted trial balance includes the following items. Accounts receivable $ 138,000 debit Allowance for doubtful accounts 6,300 debit Prepare the adjusting entry to record bad debts expense assuming uncollectibles are estimated to be (1) 4% of credit sales, (2) 2% of total sales and (3) 7% of year-end accounts receivable.
Answer:
Folgeys Coffee Company
(1) 4% of credit sales:
Debit Bad Debts Expense $18,820
Credit Allowance for Doubtful Accounts $18,820
To record bad debts expense and bring the balance to $12,520
(2) 2% of total sales:
Debit Bad Debts Expense $30,820
Credit Allowance for Doubtful Accounts $30,820
To record bad debts expense and bring the balance to $24,520.
(3) 7% of year-end accounts receivable:
Debit Bad Debts Expense $15,960
Credit Allowance for Doubtful Accounts $15,960
To record bad debts expense and bring the balance to $9,660.
Explanation:
a) Data and Calculations:
Cash Sales = $913,000
Credit Sales = $313,000
Total Sales = $1,226,000
Accounts Receivable = $138,000 Debit
Allowance for Doubtful Accounts = $6,300 debit
Estimated uncollectibles:
(1) 4% of credit sales:
= $12,520 ($313,000 * 4%)
Bad Debts Expense $18,820
Allowance for Doubtful Accounts $18,820
(2) 2% of total sales:
= $24,520 ($1,226,000 * 2%)
Bad Debts Expense $30,820
Allowance for Doubtful Accounts $30,820
(3) 7% of year-end accounts receivable:
= $9,660 ($138,000 * 7%)
Bad Debts Expense $15,960
Allowance for Doubtful Accounts $15,960
Hercules Inc. manufactures elliptical exercise machines and treadmills. The products are produced in its Fabrication and Assembly production departments. In addition to production activities, several other activities are required to produce the two products. These activities and their associated activity rates are as follows:
Activity Activity
Rate Fabrication $30 per machine hour
Assembly $35 per direct labor hour
Setup $90 per setup
Inspecting $20 per inspection
Production scheduling $19 per production order
Purchasing $5 per purchase order
The activity-base usage quantities and units produced for each product were as follows:
Activity Base Elliptical Machines Treadmill
Machine hours 600 400
Direct labor hours 190 223
Setups 30 30
Inspections 15 25
Production orders 40 30
Purchase orders 318 85
Units produced 500 320
Required:
Use the activity rate and usage information to determine the total activity cost and activity cost per unit for each product.
Answer:
Results are below.
Explanation:
First, we need to allocate costs using the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Elliptical Machines:
Rate Fabrication= 30*600= 18,000
Assembly= 35*190= 6,650
Setup= 90*30= 2,700
Inspecting= 20*15= 300
Production scheduling= 19*40= 760
Purchasing= 5*318= 1,590
Total allocated costs= $30,000
Treadmill:
Rate Fabrication= 30*400= 12,000
Assembly= 35*223 7,805
Setup= 90*30= 2,700
Inspecting= 20*25= 500
Production scheduling= 19*30= 570
Purchasing= 5*85= 425
Total allocated costs= $24,000
Finally, the unitary costs:
Elliptical Machines= 30,000 / 500= $60
Treadmill= 24,000 / 320= $75
When did the court cases reach the Supreme Court?
Answer:
August 3, 1791
Explanation:
Political systems, the systems of government in nations, differ from country to country. It is important to understand the nature of different political systems and develop an awareness of and appreciation for the significance of national differences. Political systems are assessed according to two dimensions. The first is the degree to which they emphasize _____________ as opposed to individualism. The second is the degree to which they are ___________ or ___________. These dimensions are interrelated and may share certain characteristics.
Answer:
Collectivism; democratic; totalitarian.
Explanation:
Political systems, the systems of government in nations, differ from country to country. It is important to understand the nature of different political systems and develop an awareness of and appreciation for the significance of national differences. Political systems are assessed according to two dimensions. The first is the degree to which they emphasize collectivism as opposed to individualism. The second is the degree to which they are democratic or totalitarian. These dimensions are interrelated and may share certain characteristics.
Collectivism can be defined as an economical, political or cultural system in which communities (group of people) are generally valued over individuals.
On the other hand, individualism is a sharp contrast to collectivism because it is an economical, political or cultural system in which individuals are generally valued over communities (group of people).
Also, a democratic government is a form of government of the people, by the people and for the people.
Totalitarianism can be defined as a form of centralized government that has an absolute control over the state. Thus, totalitarianism completely prohibits individual freedom, opposing ideologies, principles, political parties, and requires the people to be subservient to the state.
Simply stated, totalitarianism is an autocratic or dictatorial form of government.
On January 1, 20Y3, The Simmons Group, Inc., purchased the assets of NWS Insurance Co. for $37,152,500, a price reflecting an $5,572,875 goodwill premium. On December 31, 20Y9, The Simmons Group determined that the goodwill from the NWS acquisition was impaired and had a value of only $1,671,863. a. Determine the book value of the goodwill on December 31, 20Y9, prior to making the impairment adjustment. $fill in the blank 1 b. Illustrate the effects on the accounts and financial statements of the December 31, 20Y9, adjustment for the goodwill impairment.
Answer:
The Simmons Group, Inc.
a. December 31, 20Y9, the book value of Goodwill before impairment = $5,572,875
b. Effects on the accounts of the December 31, 20Y9 adjustment for the goodwill impairment:
1. Impairment loss of $3,901,012 will be accounted for in the Income Statement for the year, thus reducing the reported profits by $3,901,012.
2. Goodwill be reduced to $1,671,863 in the balance sheet by deducting the impairment loss of $3,901,012 from the book value before the impairment.
Explanation:
a) Data and Calculations:
Jan. 1, 20Y3, Purchase price of NWS Insurance Co. = $37,152,500
Goodwill on acquisition = $5,572,875
December 31, 20Y9, the book value of Goodwill before impairment = $5,572,875
Impaired value - $1,671,863
Impairment loss = $3,901,012 ($5,572,875 - $1,671,863)
b) The Goodwill impairment shows that the carrying amount, $1,671,863, is less than the fair value of $5,572,875. Goodwill is an intangible asset which Simmons Group acquired from NWS Insurance on January 1, 20Y3. It is annually tested for impairment by comparing the fair value with the carrying value.
Pleaseeeeee helppp!!!!!!!!!!
Answer:
D
Explanation:
They're recruiting people who have the same ideas.
What is the most important change this student should make to her profile as she begins to apply to college?
(A)She should list the address for her high school.
(B)She should tell more about her summer experiences.
(C)She should describe her plans for her social life in greater detail.
(D)She should place less emphasis on partying and tell more about her future intentions.
Answer:
D
Explanation:
ong fam
Answer:
The other person is right.
Explanation:
You have been selected to lead a team to decide on a different type of structure in your organization to better serve customers who are complaining about poor service that is slow, impersonal, and not meeting their needs to be heard. Presently, the functional structure isn’t working well. Outline some information from your knowledge using this chapter that would help the team in its assignment.
Answer:
ok
Explanation:
yes and how
A person as the selected the team as the performing, the team to take the customer review of what problems are the faced. An assisted the team to take to solve the problems of the customer.
What is team?
The term team refers to the collection of people with in a one aim. A team members are achieved goal with help of all members. The team is created mostly in sports and management. The all team members are achieved common goal. There are different types of team such as operational team, virtual team, management team, and event team.
A team leader who is a member of the organization. Someone chose the team to better service customers. The services provided by the client were slow, indifferent, and disappointing. Someone is to aid the team in locating the issue. The team conducts a customer review to make a decision.
Therefore, the team assisted as the finding the issue of the customer and the take solution as improved the organization name.
Learn more about on team, here:
https://brainly.com/question/17860885
#SPJ2
The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010.
The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.
Real Income per Person in 1960 Real Income per Person in 2010 Annual Growth Rate
Economy (Dollars) (Dollars) (Percent)
Austria 9,773 35,031 2.59
Venezuela 7,307 9,762 0.58
Botswana 468 9,515 6.21
Malaysia 1,624 11,863 4.06
Honduras 1,932 3,146 0.98
Zambia 1,412 1,309 -0.15
Indicate which economy satisfies each of the following statements.
a. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010.
b. This economy had the highest level of real income per person in the year 2010.
1. Austria
2. Botswana
3. Honduras
4. Malaysia
5. Venezuela
6. Zambia
Consider the following list of four economies. Which economy began with a level of real income per person in 1960 that was well below that of Venezuela and grew fast enough to catch up with and surpass Venezuela's real income per person by 2010?
1. Austria
2. Botswana
3. Honduras
4. Malaysia
Answer:
1. The economy that satisfies each of the following statements:
a. This economy experienced the fastest rate of growth in real income per person from 1960 to 2010:
2. Botswana
b. This economy had the highest level of real income per person in the year 2010:
1. Austria
b. The economy that began with a level of real income per person in 1960 that was well below that of Venezuela and grew fast enough to catch up with and surpass Venezuela's real income per person by 2010 is:
4. Malaysia
Explanation:
a) Data and Calculations:
Real Income per Real Income per Annual Growth
Person in 1960 Person in 2010 Rate
Economy (Dollars) (Dollars) (Percent)
Austria 9,773 35,031 2.59
Venezuela 7,307 9,762 0.58
Botswana 468 9,515 6.21
Malaysia 1,624 11,863 4.06
Honduras 1,932 3,146 0.98
Zambia 1,412 1,309 -0.15
b) Botswana has the fastest rate of growth of 6.21%, growing from $468 real income per person in 1960 to $9,515 real income person in 2010.
Malaysia's real income per person in 1960 was $1,624, which was below Venezuela's $7,307. But in 2010, Malaysia's real income per person grew to $11,863 against Venezuela's $9,762.
Select the qualification that is best demonstrated in each example.
Noah calculates the amount of money to add to a bank account.
Conrad stays calm and professional even when speaking with an angry customer.
Gabby is friendly and welcoming to customers who visit her bank.
Keiko explains a complicated loan application to a customer.
Answer:
Bankers
Explanation:
They all work in the bank but in different positions
Answer:
math skills, stress-management skills, customer-service skills & communication skills
Explanation:
I just did it on edge