Third-degree price discrimination occurs when businesses charge different prices to different groups of customers based on certain characteristics, such as age, income, location, or other demographic factors. Some examples of third-degree price discrimination include student discounts, senior citizen discounts, and airline pricing based on location.
Student discounts are a common example of third-degree price discrimination, as students typically have a lower income and are more price sensitive than other consumers. Senior citizen discounts also target a specific demographic with lower incomes and higher price sensitivity. Airlines use third-degree price discrimination by offering different prices for flights depending on the location of the customer, as some areas may have higher demand for certain flights than others.
Third-degree price discrimination can be effective even if different groups of consumers have the same price elasticities, as long as the business can identify and segment the different groups of customers with different levels of demand. A graph can help illustrate this concept, as shown below.
In the graph, the demand curve for the entire market is represented by D. If a business can identify two different groups of customers, such as students and non-students, it can charge a higher price to the group with a lower price elasticity (students) and a lower price to the group with a higher price elasticity (non-students). This strategy can increase overall profits for the business, as it can capture more revenue from the group with a lower price elasticity without losing too many sales from the group with a higher price elasticity.
In conclusion, third-degree price discrimination is a common pricing strategy used by businesses to increase profits by charging different prices to different groups of customers based on certain characteristics. This strategy can be effective even if different groups of customers have the same price elasticities, as long as the business can identify and segment the different groups with different levels of demand. A graph can help illustrate this concept and demonstrate how third-degree price discrimination can increase overall profits for the business.
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Travis Company purchased merchandise on account from a supplier for $13,800, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, record the journal entries required for the above transactions.
The journal entries for the above transactions under a perpetual inventory system are as follows:
1. Purchase of merchandise on account:
Debit Inventory $13,800
Credit Accounts Payable $13,800
2. Payment made within the discount period:
Debit Accounts Payable $13,800
Debit Cash Discount (2% of $13,800) $276
Credit Cash $13,524
The first entry records the purchase of merchandise on account from the supplier, increasing inventory and accounts payable. The second entry records the payment made within the discount period, reducing the accounts payable by the full amount and also recording a discount received for paying within the discount period.
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A cost-benefit analysis done to investigate a proposed mine site would likely take which of the following into account? the medical costs of mine worker injuries the cost of environmental restoration of the site when it is shut down the value of the ore to be extracted from the mine
A cost-benefit analysis done to investigate a proposed mine site would likely take into account the value of the ore to be extracted from the mine, as well as the cost of environmental restoration of the site when it is shut down.
While the medical costs of mine worker injuries could be a factor, it is typically not the primary consideration in a cost-benefit analysis of a mine site. The focus is usually on the economic benefits versus the environmental and social costs, including potential harm to human health and the environment.
Therefore, when evaluating a proposed mine site, a cost-benefit analysis would consider both the value of the extracted ore and the cost of restoring the site after the mine is closed.
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Verandas International is expanding its operations in North America. The Dutch company supplies customized furniture to five-star hotels. Verandas International is a leader in this industry, but the company believes it must increase its geographic reach to maintain that position.
If Verandas International chooses to pursue equity financing, but wants to avoid the time and money required to comply with stock exchange regulations, the company would most likely issue ________.
A) American Depository Receipts
B) bills of lading
C) equity shares
D) irrevocable letters of credit
Your answer: A) American Depository Receipts. Verandas International is expanding its operations in North America and wants to pursue equity financing without dealing with stock exchange regulations.
In this case, they would most likely issue American Depository Receipts (ADRs), which allow foreign companies to raise capital from U.S. investors without directly listing their shares on a U.S. stock exchange. This option provides easier access to the U.S. capital market while avoiding the time and expense of complying with stock exchange regulations.
A Depository Receipt is a certificate that represents shares in a foreign company, and an American Depository Receipt (ADR) is specifically for a foreign company trading on a U.S. stock exchange. This allows investors to buy and sell shares in the foreign company without having to deal with the foreign exchange market.
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lorenzo is a 43-year-old steelworker who was laid off from his job 6 months ago. he is frustrated with his inability to find a new full-time position. last week, he took a part-time job but was given only 3 hours of work.
In this situation, it is important for Lorenzo to explore various options for securing additional work or re-skilling to improve his employability. This could include seeking other part-time opportunities, considering alternative industries that value his skill set.
Lorenzo, a 43-year-old steelworker, has faced a challenging situation after being laid off from his full-time job six months ago. His frustration has grown due to his inability to secure a new full-time position in the steel industry, possibly due to factors such as a competitive job market or a decline in demand for steelworkers.
Recently, Lorenzo accepted a part-time job in an attempt to regain employment and financial stability. Unfortunately, this job has only provided him with 3 hours of work per week, which may not be sufficient to support his needs and responsibilities. This limited number of hours may also be contributing to his ongoing frustration and sense of insecurity about his professional future.
By being proactive and strategic in his job search, Lorenzo can work towards overcoming the challenges he is currently facing and finding a more stable and fulfilling employment opportunity.
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Discuss two goals to set before you start making an investment 
Two goals to set before making an investment include:
Short-term goalsLong - term goals What kind of goals should be set ?A short -term investment goal could be to accumulate money for a particular intent, such as settling a down payment for a house, taking an excursion, or acquiring an important item.
On the other hand, a broader long-term investment goal might be to save up for retirement or a remote fiscal aspiration. To attain this objective, the investor may place precedence on investments having a lengthy timespan and a possible greater yield, including stocks, mutual funds, or exchange-traded funds (ETFs).
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1. How would each of the following affect Selma’s current consumption and saving? Selma is a forward-looking consumer with no borrowing constraints. (a) Meltem's firm announces a reorganization plan, increasing Selma’s future income dramatically (b) Meltem's father, who had planned to leave her a large bequest, must spend all his wealth on medical bills after a prolonged illness (c) The real interest rate rises from its original level. Meltem originally planned to have no assets for the future; that is, she planned to spend all her original assets and all her income when she was young, and planned to consume an amount equal to her future income when she was old.
A detailed answer to the question of how each of the given scenarios would affect Selma's current consumption and save as a forward-looking consumer with no borrowing constraints is as follows:
(a) Meltem's firm announces a reorganization plan, increasing Selma’s future income dramatically: In this case, Selma's expected future income would increase significantly. As a forward-looking consumer, Selma would revise her consumption and savings plans to take into account this change.
She would likely increase her current saving and decrease her current consumption in order to maintain a similar level of consumption in the future when her income is higher. This is because Selma would want to smooth her consumption over time and avoid a sharp increase in her consumption in the future when her income rises.
(b) Meltem's father, who had planned to leave her a large bequest, must spend all his wealth on medical bills after a prolonged illness: In this scenario, Selma's expected future income would decrease since she would no longer receive the bequest that she was expecting.
As a result, she may decide to decrease her current savings and increase her current consumption to maintain her desired level of consumption in the present. Alternatively, she may choose to maintain her current savings and decrease her future consumption to account for the lost bequest.
(c) The real interest rate rises from its original level. Meltem originally planned to have no assets for the future; that is, she planned to spend all her original assets and all her income when she was young, and planned to consume an amount equal to her future income when she was old: If the real interest rate increases, Selma's future income would be worth more in present value terms.
This would provide her with an incentive to save more now and consume less, in order to benefit from the higher returns on her savings in the future. Thus, Selma may choose to increase her current savings and decrease her current consumption to take advantage of the higher real interest rate.
However, if she had already planned to spend all her assets and income when young, she may not have had the option to save more and would need to adjust her consumption in line with her original plan.
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Problem 10-9AB (Algo) Effective Interest: Amortization of bond premium LO P5 Ellis Company issues 6.5%, five-year bonds dated January 1, 2020, with a $460.000 par value. The bonds pay interest on June 30 and
December 31 and are issued at a price of $469.812. The annual market rate is 6% on the issue date.
Required:
1. Compute the total bond interest expense over the bonds life.
2. Prepare an effective interest amortization table for the bonds life.
3. Prepare the journal entries to record the first two interest payments.
Required 1 Required 2 Required 3
Prepare an effective interest amortization table for the bonds' life. (Round your intermediate and final answers to the nearest whole dollar)
Semiannual Period-End. Cash Interest Paid. Bond Interest Expense. Premium Amortization. Unamortized Premium. Carrying Value
01/01/2020
06/30/2020
12/31/2020
00:30:2021
12/31/2022
06/30/2023
06/30/2024
12/31/2024
Total
Required 1 Required 2 Required 3
Prepare the journal entries to record the first two interest payments.
No Date. General Journal. debit. credit
1. Jun 30, 2020. Bond interest expense
Premium on bonds payable
Cash. 14,950
2Dec 31, 2020 Bond interest expense
Premium on bonds payable
Cash 14,950
Total bond interest expense over the bond's life:
The bonds pay interest semiannually, so the total number of interest periods is 10 (5 years x 2 periods per year). The bond interest expense is calculated as follows:
Bond Interest Expense = Par Value x Annual Coupon Rate x Fraction of Year
= $460,000 x 6.5% x 6/12
= $14,950
Total Bond Interest Expense = Bond Interest Expense x Number of Interest Periods
= $14,950 x 10
= $149,500
Effective Interest Amortization Table:
Semiannual Period-End Cash Interest Paid Bond Interest Expense Premium Amortization Unamortized Premium Carrying Value
01/01/2020 - - - $9,812 $469,812
06/30/2020 $15,250 $14,950 $300 $9,512 $460,362
12/31/2020 $15,250 $14,950 $300 $9,212 $460,062
06/30/2021 $15,250 $14,503 $747 $8,465 $460,297
12/31/2021 $15,250 $14,503 $747 $7,718 $460,544
06/30/2022 $15,250 $14,058 $1,192 $6,526 $461,284
12/31/2022 $15,250 $14,058 $1,192 $5,334 $462,076
06/30/2023 $15,250 $13,615 $1,635 $3,699 $463,046
12/31/2023 $15,250 $13,615 $1,635 $2,064 $464,027
06/30/2024 $15,250 $13,174 $2,076 - $465,000
12/31/2024 $15,250 $13,174 $2,076 - $465,000
Journal Entries:
June 30, 2020:
Debit: Bond Interest Expense - $14,950
Debit: Premium on Bonds Payable - $300
Credit: Cash - $15,250
December 31, 2020:
Debit: Bond Interest Expense - $14,950
Debit: Premium on Bonds Payable - $300
Credit: Cash - $15,250
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when managers overlook or stifle the importance of core values in their business decisions it is referred to in the chapter as _____
Answer:
normative myopia
Explanation:
when managers overlook or stifle the importance of core values in their business decisions it is referred to in the chapter as normative myopia
When managers overlook or stifle the importance of core values in their business decisions, it is referred to in the chapter as "values gap."
The values gap is the difference between what a company says it values and how it actually behaves in practice. It can occur when managers prioritize short-term profits over long-term sustainability or when they prioritize individual goals over the organization's mission and values. The values gap can have negative consequences, including loss of trust from stakeholders and employees, reputational damage, and decreased organizational performance. It is important for managers to actively address the values gap by aligning their actions with the organization's values and ensuring that all decisions are made with the organization's mission and values in mind.
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helena works in a factory that makes plastic phone cases. the four main tasks are mixing, molding, curing, and polishing. out of all the workers, she is the fastest mixer, has the lowest opportunity cost for molding, is the most careful in curing, and enjoys polishing the most. if her manager makes assignments in a way that maximizes output, she will be assigned to:_____.
Helena works in a factory that produces plastic phone cases, where the main tasks are mixing, molding, curing, and polishing. Helena is the fastest mixer, has the lowest opportunity cost for molding,
To maximize output, her manager should assign tasks based on comparative advantage, which means assigning each worker to the task where they have the lowest opportunity cost. Helena is the fastest mixer, has the lowest opportunity cost for molding, is the most careful in curing, and enjoys polishing the most. While these are all great qualities, her manager should focus on the lowest opportunity cost to maximize output.
In this case, Helena has the lowest opportunity cost for molding. Therefore, her manager should assign her to the molding task, as this will be the most efficient use of her skills and will contribute to increased overall output in the factory. By doing so, the manager ensures that Helena's expertise is utilized effectively and helps the factory achieve the highest possible productivity level.
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2022
Month Forecast
Jan 5,500
Feb 5,700
Mar 6,000
Apr 5,800
May 6,300
Jun 7,000
Jul 7,500
Aug 7,200
Sep 6,800
Oct 6,300
Nov 6,000
Dec 5,800
Month Forecast Actual
January 2021 3,500 2,900
February 2021 3,500 3,200
March 2021 4,000 3,700
April 2021 4,500 4,500
May 2021 5,000 5,400
June 2021 5,500 6,000
July 2021 6,000 6,200
August 2021 5,500 5,400
September 2021 5,000 4,600
October 2021 4,500 4,000
November 2021 4,000 4,000
December 2021 5,000 5,200
Create a new Production Plan that will begin in March of 2022. It must be level and it must cover the new
Sales Forecast numbers through the year. Assume there are no Backorders from last year (2021).
a. What should your new monthly production rate be?
b. How will you add new capacity?
a) The new monthly production rate should be 6,075 units.
b)To add new capacity, there are a few options available. One option is to invest in new equipment or machinery to increase production capacity.
How to find the new monthly production ratea. To create a new level production plan for 2022, you need to find the average monthly production rate based on the provided forecast.
Add up the forecasted numbers for each month and divide by 12:
(5,500 + 5,700 + 6,000 + 5,800 + 6,300 + 7,000 + 7,500 + 7,200 + 6,800 + 6,300 + 6,000 + 5,800) / 12 = 72,900 / 12 = 6,075
Your new monthly production rate= 6,075 units.
b. To add new capacity, you can consider the following options:
1. Increase the number of production hours by adding overtime, extra shifts, or weekend work.
2. Improve production efficiency by investing in automation, better equipment, or employee training.
3. Outsource production to a third-party manufacturer or collaborate with other businesses to share production capacity.
4. Hire more employees to increase the workforce and handle the increased production demand.
5. Expand the production facility to accommodate more equipment and workers. Choose the most suitable option based on your company's resources, budget, and business strategy.
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6. Look at the website of either TUI Travel or Thomas Cook Group. Which types of intermediaries does the business consist of? Can you find one example of a wholesale, tour operator, MICE operator, TMC and leisure travel agency?
Both TUI Travel and Thomas Cook Group consist of various intermediaries in their business operations. These intermediaries include wholesale operators, tour operators, MICE operators, TMCs, and leisure travel agencies.
One example of a wholesale operator in the Thomas Cook Group is Gold Medal. This company provides travel agents with access to a wide range of products including flights, hotels, car rentals, and travel insurance.
An example of a tour operator in TUI Travel is TUI Tours. This company offers a range of holiday packages that are designed to suit different types of travelers. These packages include flights, accommodation, transfers, and activities.
MICE (Meetings, Incentives, Conferences, and Exhibitions) operators are also an important part of both TUI Travel and Thomas Cook Group's business operations. An example of a MICE operator in TUI Travel is TUI Group's Meeting and Events division. This division specializes in organizing business events such as conferences, incentives, and meetings.
TMCs (Travel Management Companies) are also an essential part of both companies' operations. TUI Travel's TMC is TUI Business Travel, which provides corporate clients with a range of travel-related services including booking flights, hotels, and ground transportation.
Lastly, leisure travel agencies play a significant role in both TUI Travel and Thomas Cook Group's operations. An example of a leisure travel agency in Thomas Cook Group is Co-operative Travel, which offers a wide range of holiday packages and deals to customers.
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Suppose a consumer has an income of $100. based on the consumer's indifference curves and budget constraints, which demand curves reflects the consumer's demand for water park tickets?
Assuming that the consumer has a fixed budget of $100, the demand curve for water park tickets can be derived by analyzing the consumer's preferences and budget constraints.
The consumer's indifference curves represent different combinations of water park tickets and other goods that provide the same level of satisfaction. Based on the consumer's budget constraint, the demand curve for water park tickets can be derived by finding the optimal bundle of water park tickets and other goods that the consumer can afford. This demand curve will show the quantity of water park tickets that the consumer is willing and able to buy at different prices. Therefore, the demand curve for water park tickets depends on the consumer's preferences, budget constraints, and the price of water park tickets. By finding the optimal consumption point where these two factors intersect, we can identify the demand curve that best reflects the consumer's preferences for water park tickets.
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What is the production function if labor, L, and capital, K, are perfect substitutes and each unit of q requires 0.5 units of Lor 0.5 units of K (or a combination of these inputs that adds to 0.5)? The production function is q=0
This is because each unit of q requires either 0.5 units of L or 0.5 units of K, so multiplying both by 2 gives the production function in terms of L and K.
If labor, L, and capital, K, are perfect substitutes and each unit of q requires 0.5 units of L or 0.5 units of K (or a combination of these inputs that adds to 0.5), the production function is q=0. This means that no matter how much labor or capital is used, there will be no output or production. This is because the inputs are perfect substitutes, meaning they are interchangeable and provide the same level of productivity, so there is no need to use both of them to produce output.
Hi! Based on the information provided, the production function with perfect substitutes of labor (L) and capital (K) can be represented as:
q = 2L + 2K
This is because each unit of q requires either 0.5 units of L or 0.5 units of K, so multiplying both by 2 gives the production function in terms of L and K.
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xplain to leadership program closure is just as important, to help leadership understand your position, you decided to create a 4-point plan to ensure program closure success. Make sure each point of your plan has an explanation with details.150 words!
Program closure is an essential aspect of any project, and it is just as important as project initiation and execution. To ensure program closure success, I have developed a 4-point plan that includes:
Review the original program scope and objectives: The first step is to review the program scope and objectives to ensure that all deliverables have been completed, and the program has met its objectives.
Conduct a final project review: This involves conducting a final review of the project to identify any issues or challenges that were encountered during the program and how they were resolved. It will also identify any lessons learned that can be applied to future programs.
Obtain final sign-off: Obtain final sign-off from all stakeholders, including the project sponsor and any other relevant stakeholders. This sign-off indicates that the program has been completed satisfactorily and that all deliverables have been met.
Celebrate success and communicate results: Celebrate the success of the program and communicate the results to all stakeholders, including the project team and the organization as a whole. This communication can include a report or presentation outlining the program's success and lessons learned.
Program closure is often overlooked or rushed, which can lead to unresolved issues and a lack of closure for stakeholders.
To ensure program closure success, it is crucial to follow a structured process that includes reviewing the program scope and objectives, conducting a final project review, obtaining final sign-off, and celebrating success and communicating results.
This process will ensure that all deliverables have been met, issues have been resolved, and stakeholders are satisfied with the program's outcome. It will also provide an opportunity to learn from the program's successes and challenges and apply these lessons to future programs.
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which of the following is a characteristic of successful entrepreneurs? tolerance of uncertainty superciliousness apathy intolerance of failure
Tolerance of uncertainty is a characteristic of successful entrepreneurs.
Successful entrepreneurs are often faced with uncertainty and ambiguity, and they must be comfortable with taking risks and making decisions without having complete information.
Tolerance of uncertainty allows entrepreneurs to remain calm and focused in the face of uncertainty and to make informed decisions based on available information. Successful entrepreneurs also recognize that failure is a natural part of the process, and they learn from their mistakes rather than being discouraged by them.
Superciliousness, or arrogance, can actually hinder success by limiting an entrepreneur's ability to learn from others and to collaborate effectively. Apathy, or a lack of interest or motivation, can prevent entrepreneurs from taking the necessary steps to succeed.
Intolerance of failure can lead to risk aversion and a reluctance to take necessary risks, which can also hinder success.
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Question 2 MC Packaging Limited ("MC") makes aluminum cans for the food processing industry. It produces the cans in three different sizes according to capacity: small, medium and large. The following details are taken from next quarter's budget: Large 4,000 Sales quantity Medium 5,000 Small 3,500 Direct labour: Fitters and turners (hours/unit) Assemblers and packers (hours/unit) 1.25 0.40 0.90 0.25 0.80 0.20 Direct materials Aluminum strips per unit Packaging materials (metres) 2.50 1.25 1.00 0.75 0.50 0.50 Finished stocks (units) Opening Closing 300 400 400 300 200 150 Rates of pay for fitters/turners and assemblers/packers are $10.00 per hour and $6.00 per hour respectively. Aluminum strips cost $3.00 each and packaging is $1.00 per metre. MC plans to have opening material stocks of 220 aluminum strips and 80 metres of packaging. The closing material stocks are 150 aluminum strips and 50 metres of packaging. The quarter's fixed production overheads of $31,700 are attached to product lines on a direct labour hour basis. Required: a. Prepare the production budget schedule for the quarter. b. Calculate the unit production cost of each type of can. c. Prepare the material usage budget schedule in quantities and value. d. Prepare the materials purchases budget schedule in quantities and value. e. Prepare the direct labour budget schedule in hours and value.
The production budget schedule was prepared for MC Packaging Limited based on sales quantities, opening and closing finished stocks, and total requirements for each can size. The unit production cost was calculated for each can size based on direct materials, direct labor, and production overhead costs.
a. Production budget schedule:
Can size Sales quantity Opening finished stock Total requirements Closing finished stock Production
Large 4,000 300 4,400 400 4,100
Medium 5,000 200 5,200 150 5,050
Small 3,500 150 3,650 80 3,580
Total 12,500 650 13,250 630 12,730
b. Unit production cost:
Can size Direct materials Direct labour Production overhead Total unit cost
Large $12.50 $15.63 $6.21 $34.34
Medium $9.25 $5.85 $4.69 $19.79
Small $5.75 $3.13 $2.98 $11.86
c. Material usage budget schedule (quantities and value):
Material Opening stock Total requirements Closing stock Usage (quantities) Usage (value)
Aluminum strips 220 13,250 150 13,030 $39,090
Packaging materials 80 11,250 50 11,170 $11,170
d. Materials purchases budget schedule (quantities and value):
Material Total requirements Opening stock Closing stock Purchases (quantities) Purchases (value)
Aluminum strips 13,250 220 150 13,180 $39,540
Packaging materials 11,250 80 50 11,220 $11,220
e. Direct labor budget schedule (hours and value):
Activity Large can Medium can Small can Total
Fitters and turners 5,000 6,250 4,375 15,625
Assemblers and packers 1,800 1,250 1,140 4,190
Total 6,800 7,500 5,515 19,815
The total direct labor cost is $166,310.
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What is the purpose/focus of a (developmental) project group?
The purpose of a developmental project group is to work together to achieve a specific goal or objective related to a project or program. This type of group is typically formed to focus on a particular project or task.
The focus of a developmental project group is on achieving specific project goals and milestones, often within a specific timeframe. The group works collaboratively to identify and overcome challenges, develop solutions, and implement strategies to achieve the project objectives.
The group may engage in a range of activities, including planning, organizing, implementing, monitoring, and evaluating project activities. They may also communicate and collaborate with stakeholders, such as clients, customers, or other departments, to ensure that project goals align with broader organizational goals and objectives.
Overall, the purpose of a developmental project group is to ensure that projects are completed on time, within budget, and to the satisfaction of stakeholders. The group's focus is on achieving specific project objectives, and they work collaboratively to overcome challenges, develop solutions, and implement strategies to achieve their goals.
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10:53 FOD! 72% ال. اا، چ f Assignment01 Assignment #01 Ahmed Imran opened Legacy Maids Cleaning Service on July 1, 2017. During July, the company completed the following transactions.
July 1 Shareholders invested £15,000 cash in the business in exchange for ordinary
shares.
1 Purchased a used truck for £10,000, paying £3,000 cash and the balance on
account.
3 Purchased cleaning supplies for £1,700 on account.
5 Paid £1,800 on a one-year insurance policy, effective July 1.
12 Billed customers £4,200 for cleaning services performed.
18 Paid £1,000 of amount owed on truck, and £400 of amount owed on cleaning
supplies.
20 Paid £1,900 for employee salaries.
21 Collected £2,400 from customers billed on July 12.
25 Billed customers £2,100 for cleaning services performed.
31 Paid gasoline for the month on the truck, £400.
31 Declared and paid a £500 cash dividend.
The given information outlines the transactions completed by Legacy Maids Cleaning Service in July 2017. The company started its operations by receiving £15,000 cash from shareholders in exchange for ordinary shares.
They used £3,000 of this cash to purchase a used truck worth £10,000, and the remaining £7,000 was recorded as an accounts payable liability. Additionally, the company purchased cleaning supplies for £1,700 on account.
The company paid £1,800 for a one-year insurance policy effective from July 1. Later, on July 12, the company billed customers £4,200 for cleaning services performed. On July 18, the company paid £1,000 and £400 towards the truck and cleaning supplies accounts payable balance, respectively.
On July 20, the company paid £1,900 for employee salaries. On July 21, the company collected £2,400 from customers billed on July 12. On July 25, the company billed customers £2,100 for cleaning services performed. Finally, on July 31, the company paid £400 for gasoline and declared and paid a £500 cash dividend.
This information constitutes Assignment #01 for the accounting course, and the transaction analysis, as well as journal entries, can be completed based on the given data.
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13. A hybrid costing system would be appropriate for a company that manufactures cake flour. true or false
Answer: False, a hybrid costing system would not be appropriate for a company that manufactures cake flour. Hope this help! :)
The statement that "A hybrid costing system would be appropriate for a company that manufactures cake flour" is false because a process costing system would be more appropriate for a company that manufactures only one product using a continuous production process, such as cake flour.
A hybrid costing system, which combines elements of both process costing and job-order costing, is more appropriate for companies that produce a mix of unique, custom-made products and standardized, mass-produced products. In the case of a company manufacturing cake flour, a process costing system would be more suitable, as it involves the production of a homogeneous, standardized product.
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this is a statement that helps you in identifying how you can cut down some expenses to save money to invest.
To provide a detailed explanation of a statement that helps you in identifying how you can cut down some expenses to save money to invest, consider the following steps. By following these steps, the statement helps you identify how you can cut down expenses to save money for investing purposes.
1. Analyze your current spending: Begin by tracking your spending for a month or two to understand where your money is going. This can be done through budgeting apps or by maintaining a manual record.
2. Categorize expenses: Divide your expenses into categories, such as housing, utilities, food, transportation, entertainment, and miscellaneous.
3. Identify non-essential expenses: Examine each category and determine which expenses are not essential or can be reduced. For example, you might find that you are spending a significant amount on eating out or subscription services.
4. Create a budget: Develop a budget with specific allocations for each category, focusing on reducing or eliminating non-essential expenses. This budget should reflect your financial goals, including your investment plans.
5. Implement cost-saving strategies: Apply practical ways to reduce expenses, such as cooking at home, using public transportation, or cancelling unused subscriptions.
6. Monitor progress: Regularly review your spending and savings progress, adjusting your budget as needed to stay on track with your investment goals.
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best company acquired land and buildings for $1,000,000. the land is appraised at $475,000 and the buildings are appraised at $775,000. the debit to the buildings account will be:
The debit to the land account will be $475,000, and the debit to the building account will be $775,000.
The debit to the buildings account will be $775,000.
When a company acquires land and buildings, the total cost is allocated between the land and building accounts based on their respective appraised values. In this case, the total cost of acquisition is $1,000,000, and the appraised value of the land is $475,000 while that of the buildings is $775,000.
Since the land and building accounts are both asset accounts, the total acquisition cost will be debited to both accounts. However, the amount debited to each account will be based on the appraised values.
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a company estimated $17,500 of variable overhead for 3,500 machine hours. actual cost was $16,240 for 2,800 hours. calculate the variable overhead efficiency variance.
The variable overhead efficiency variance is $2,240.
The first step in calculating the variable overhead efficiency variance is to determine the standard variable overhead rate per machine hour. This is calculated by dividing the estimated variable overhead cost by the estimated machine hours:
Standard variable overhead rate = Estimated variable overhead cost / Estimated machine hours
Standard variable overhead rate = $17,500 / 3,500
Standard variable overhead rate = $5 per machine hour
Next, we can calculate the expected variable overhead cost for the actual machine hours:
Expected variable overhead cost = Standard variable overhead rate x Actual machine hours
Expected variable overhead cost = $5 x 2,800
Expected variable overhead cost = $14,000
Finally, we can calculate the variable overhead efficiency variance by subtracting the expected variable overhead cost from the actual variable overhead cost:
Variable overhead efficiency variance = Actual variable overhead cost - Expected variable overhead cost
Variable overhead efficiency variance = $16,240 - $14,000
Variable overhead efficiency variance = $2,240
Therefore, the variable overhead efficiency variance is $2,240.
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FILL IN THE BLANK. products that give high immediate satisfaction but may hurt consumers in the long run are called ___ products.
The products that give high immediate satisfaction but may hurt consumers in the long run are called hedonic products.
These products are designed to fulfill immediate desires or needs, but they may not necessarily be good for the consumer's health or well-being in the long run. Examples of hedonic products include junk food, cigarettes, alcohol, and other products that provide immediate pleasure but have long-term negative consequences.
Consumers should be aware of the potential long-term effects of these products and consider their overall health and well-being before consuming them. It is important for manufacturers to be transparent about the potential risks associated with their products and provide consumers with accurate information to help them make informed decisions.
Overall, consumers need to be mindful of the trade-offs between immediate satisfaction and long-term health and well-being when choosing which products to consume.
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While there is a degree of differentiation between major grocery chains like Albertsons and Kroger, the regular offering of sale prices by both firms for many of their products provides evidence that these firms engage in price competition. For markets where Albertsons and Kroger are the dominant grocers, this suggests that these two stores simultaneously announce one of two prices for a given product: a regular price or a sale price. Suppose that when one firm announces the sale price and the other announces the regular price for a particular product, the firm announcing the sale price attracts 1,000 extra customers to earn a profit of $5,000, compared to the $3,000 earned by the firm announcing the regular price. When both firms announce the sale price, the two firms split the market equally (each getting an extra 500 customers) to earn profits of $2,000 each. When both firms announce the regular price, each company attracts only its 1,500 loyal customers and the firms each earn $4,500 in profits. Two combinations of pricing strategies are equilibria of the pricing game described above when played once. What are they? Instruction: Select both strategy combinations that are an equilibrium of the pricing game. In order to receive full credit, you must make a selection for each option. For correct answer(s), click the box once to place a check mark. For incorrect answer(s), click twice to empty the box. - Albertsons and Kroger charge the regular price. - Albertsons and Kroger charge the sale price - Albertsons charges the sale price and Kroger charges the regular price
- Albertsons charges the regular price and Kroger charges the sale price
The two equilibrium pricing strategies are:
1. Albertsons charges the sale price and Kroger charges the regular price
2. Albertsons charges the regular price and Kroger charges the sale price
In the first equilibrium, if Albertsons charges the sale price and Kroger charges the regular price, then Albertsons earns $5,000 in profit from attracting an extra 1,000 customers while Kroger earns $3,000 in profit from its loyal customers. If either firm deviates from this strategy and switches to the regular price, it will lose market share and profit to the other firm.
In the second equilibrium, if Albertsons charges the regular price and Kroger charges the sale price, then Kroger earns $5,000 in profit from attracting an extra 1,000 customers while Albertsons earns $3,000 in profit from its loyal customers. Again, if either firm deviates from this strategy and switches to the sale price, it will lose market share and profit to the other firm.
It is important to note that in both equilibria if both firms choose the same pricing strategy (either regular or sale price), they will earn equal profits of $4,500 each.
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true/false. the aggregate demand and aggregate supply model explains: answer unselected the effect of long-run economic growth on the standard of living unselected short-run fluctuations in real gdp and the price level unselected the effect of changes in interest rate on investment spending
The aggregate demand and aggregate supply model explains short-run fluctuations in real GDP and the price level (option b).
The aggregate demand and aggregate supply model is a macroeconomic model that explains short-run fluctuations in the economy. It shows how changes in aggregate demand or aggregate supply can affect real GDP and the price level. The model assumes that prices are flexible in the long run but can be sticky in the short run, resulting in short-run fluctuations in real GDP and the price level.
Option b is answer.
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Ahmed & Co. makes and sells two types of shoes, Plain and Fancy. Data concerning these products are as follows: Unit selling price Variable cost per unit Plain $ 20.00 12.00 Fancy $35.00 24.50 Sixty percent of the unit sales are Plain, and annual fixed expenses are $45,000. Assuming that the sales mix remains constant, the number of units of Plain that Ahmed must sell to break even is: Multiple Choice 2,000 3,000.
To find the number of units of Plain shoes Ahmed must sell to break even, we need to perform a break-even analysis using the following steps:
1. Calculate the contribution margin per unit for each type of shoe:
Contribution Margin = Selling Price - Variable Cost
Plain: $20.00 - $12.00 = $8.00 per unit
Fancy: $35.00 - $24.50 = $10.50 per unit
2. Calculate the weighted average contribution margin per unit based on the sales mix:
Weighted Average Contribution Margin = (Plain Contribution Margin × Plain Sales Percentage) + (Fancy Contribution Margin × Fancy Sales Percentage)
Plain Sales Percentage = 60% (given)
Fancy Sales Percentage = 100% - 60% = 40%
Weighted Average Contribution Margin = ($8.00 × 0.60) + ($10.50×0.40) = $4.80 + $4.20 = $9.00 per unit
3. Calculate the break-even point in units:
Break-Even Point (Units) = Fixed Expenses / Weighted Average Contribution Margin
Fixed Expenses = $45,000 (given)
Break-Even Point (Units) = $45,000 / $9.00 = 5,000 units (total)
4. Calculate the number of units of Plain shoes needed to break even:
Plain Units = Break-Even Point (Units) ×Plain Sales Percentage
Plain Units = 5,000×0.60 = 3,000 units
So, Ahmed must sell 3,000 units of Plain shoes to break even. The correct answer is 3,000.
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Discuss the roles of ICT in procurement audit andinvestigation
ICT (Information and Communication Technology) has a crucial role in procurement audit and investigation.
In procurement, ICT helps to manage data efficiently and securely, enabling procurement officers to gather, analyze, and present information about vendors, purchases, and other procurement activities. Moreover, ICT systems can provide alerts when certain purchasing thresholds are exceeded or irregularities are detected, which helps procurement officers to detect fraud or other illegal activities.
In terms of audit and investigation, ICT can help auditors and investigators to collect and analyze vast amounts of data quickly and accurately. For instance, ICT tools can be used to examine invoices, contracts, and other procurement documents, detect anomalies, and identify patterns of fraudulent activities. Furthermore, ICT can help investigators to track the flow of funds and goods through the procurement process, enabling them to identify potential cases of fraud or corruption.
Overall, ICT plays a critical role in procurement audit and investigation by enabling procurement officers, auditors, and investigators to collect, manage, and analyze procurement data efficiently and effectively. By leveraging ICT, procurement organizations can enhance their transparency, accountability, and overall effectiveness.
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Janette Franklin, owner of Frank Solutions, LLC, is considering borrowing $30,000 to finance the renovation of her office building. She has been given three different loan options with various terms and interest rates. She knows that she can only afford to make payments of $530.00 a month and needs your help to determine which loan option is best.
Instructions:
Step
Instructions
Points Possible
1
Start Excel. Open the file named e06ch11_grader_h1_Loans.xlsx. Save the file with the name e06ch11_grader_h1_Loans_LastFirst, replacing LastFirst with your name.
0.000
2
On the LoanAnalysis worksheet in cell C4, calculate the annual percentage rate for Loan Option 1. Format the cell as Percentage with 2 decimal places.
10.000
3
In cell C6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell C5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.
10.000
4
In cell C7, calculate the total cost of the loan by adding the loan amount in cell C2 to the cumulative interest amount in cell C6.
4.000
5
In cell F3, calculate the end of the period monthly payment for Loan Option 2. Be sure the result of the function is positive, and then format the cell as Currency.
10.000
6
In cell F6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell F5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.
10.000
7
In cell F7, calculate the total cost of the loan by adding the loan amount in cell F2 to the cumulative interest amount in cell F6.
4.000
8
In cell I5, calculate the total number of quarterly payments required to pay off Loan Option 3 if payments are made at the end of the period. Format the cell as Number with 0 decimal places.
10.000
9
In cell I6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell I5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.
10.000
10
In cell I7, calculate the total cost of the loan by adding the loan amount in cell I2 to the cumulative interest amount in cell I6.
4.000
11
You will create an amortization schedule for Loan Option 3 in cells C12:F35. All payments are end-of-the-period payments. Be sure that all formulas and functions result in a positive value. To begin, in cell C12, enter a formula that refers to the Loan Amount for Loan Option 3. Format the cell as Currency with 0 decimal places.
4.000
12
In cell D12, enter a function to calculate the first principal payment. Format the cell as Currency with 2 decimal places.
5.000
13
In cell E12, enter a function to calculate the first interest payment. Format the cell as Currency with 2 decimal places.
5.000
14
In cell F12, enter a formula to calculate the first ending balance. Format the cell as Currency with 2 decimal places.
4.000
15
In cell C13, enter a formula that refers to the ending balance in cell F12. Complete the amortization schedule as directed down to F35. Ensure that cells C13:F35 are formatted as Currency with 2 decimal places.
10.000
16
Ensure that the worksheets are correctly named and placed in the following order in the workbook: LoanAnalysis, Documentation. Save the workbook, exit Excel, and then submit the file as directed by your instructor.
0.000
Total Points
100.000
To complete the loan analysis task in Excel, follow the provided steps to calculate the loan options, create an amortization schedule, format cells, and organize worksheets.
To complete the given task and calculate the loan options, follow these steps:
Start Excel and open the file named "e06ch11_grader_h1_Loans.xlsx".Save the file with the name "e06ch11_grader_h1_Loans_LastFirst", replacing "LastFirst" with your name.On the "LoanAnalysis" worksheet, in cell C4, calculate the annual percentage rate for Loan Option 1. Format the cell as Percentage with 2 decimal places.In cell C6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell C5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.In cell C7, calculate the total cost of the loan by adding the loan amount in cell C2 to the cumulative interest amount in cell C6.In cell F3, calculate the end of the period monthly payment for Loan Option 2. Be sure the result of the function is positive, and then format the cell as Currency.In cell F6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell F5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.In cell F7, calculate the total cost of the loan by adding the loan amount in cell F2 to the cumulative interest amount in cell F6.In cell I5, calculate the total number of quarterly payments required to pay off Loan Option 3 if payments are made at the end of the period. Format the cell as Number with 0 decimal places.In cell I6, calculate the total cumulative interest that would be paid throughout the life of the loan if payments were made at the end of the periods. Reference cell I5 for the end_period argument. Be sure that the result of the function is positive, and then format the cell as Currency.In cell I7, calculate the total cost of the loan by adding the loan amount in cell I2 to the cumulative interest amount in cell I6.Create an amortization schedule for Loan Option 3 in cells C12:F35. All payments are end-of-the-period payments. Begin with a formula in cell C12 that refers to the Loan Amount for Loan Option 3. Format the cell as Currency with 0 decimal places.In cell D12, enter a function to calculate the first principal payment. Format the cell as Currency with 2 decimal places.In cell E12, enter a function to calculate the first interest payment. Format the cell as Currency with 2 decimal places.In cell F12, enter a formula to calculate the first ending balance. Format the cell as Currency with 2 decimal places.In cell C13, enter a formula that refers to the ending balance in cell F12. Complete the amortization schedule down to F35. Ensure that cells C13:F35 are formatted as Currency with 2 decimal places.Ensure that the worksheets are correctly named and placed in the following order in the workbook: LoanAnalysis, Documentation.Save the workbook, exit Excel, and submit the file as directed by your instructor.The steps above are a way to make a lending analysis to a company to identify how much loan to pay.
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Case A Keurig Dr Pepper, is a leading worldwide integrated brand owner, bottler, and distributor of nonalcoholic beverages. Key brands include Dr Pepper, Snapple, 7-UP, Mott's juices, A&W root beer, Canada Dry ginger ale, Schweppes ginger ale, Hawaiian Punch, and Green Mountain coffee among others, and the innovative Keurig single-serve coffee system. The following represents selected data from recent financial statements of Keurig Dr Pepper (dollars in millions): December 31, 20x2 KEURIG DR PEPPER Consolidated Balance Sheets (partial) December (in millions) 31, 20x3 Assets Current assets: Cash and cash equivalents $ 61 Accounts receivable (net of allowances of $2 and $3, respectively) 668 $1,787 595 Consolidated Statements of Income (partial) For the Year Ended December 31 (in millions) 20x3 20x2 20x1 Net sales $ 6,690 $ 6,440 $ 6, 282 Net income $ 1,076 $ 847 $ 764 The company also reported bad debt expense of $2 million in 20x3, $1 million in 20x2, and $2 million in 20x1. Required: 1. Record the company's write-offs of uncollectible accounts for 20x3. 2. Assuming all sales were on credit, what amount of cash did Keurig Dr Pepper collect from customers in 20x3? 3. Compute the company's net profit margin for the three years presented. Required 1 Required 2 Required 3 Record the company's write-offs of uncollectible accounts for 20x3. (If no entry is required for a transaction, entry required" in the first account field. Enter your answers in millions (i.e., 10,000,000 should be entered View transaction list Journal entry worksheet 1 Record the company's write-offs of uncollectible accounts for 20x3. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Assuming all sales were on credit, what amount of cash did Keurig Dr Pepper collect from customers in 20x3? (Enter your answer in millions.) Cash collections for 20x3 million Compute the company's net profit margin for the three years presented. (Round your percentage answers to 2 decimal places (i.e. 0.1234 should be entered as 12.34).) Net Profit Margin % % 20x3 20x2 20x1 %
To record the company's write-offs of uncollectible accounts for 20x3, we need to use the allowance method and reduce the accounts receivable by the amount that is deemed uncollectible.
The bad debt expense for 20x3 was $2 million, so we need to write off $2 million of the accounts receivable.
Transaction General Journal Debit Credit
1 Allowance for uncollectible accounts 2
Accounts receivable 2
The accounts receivable decreased by $73 million from $668 million to $595 million, so Keurig Dr. Pepper collected $73 million in cash from customers in 20x3.
Cash collections for 20x3: $73 million
We can calculate the net profit margin for each year by dividing the net income by the net sales and multiplying by 100 to get a percentage.
Net profit margin for 20x3: (1,076/6,690) x 100 = 16.09%
Net profit margin for 20x2: (847/6,440) x 100 = 13.14%
Net profit margin for 20x1: (764/6,282) x 100 = 12.16%
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A small chain of pizza restaurants in your area is starting to grow. Just last year, it grew from 6 to 12 locations. Now, some employees are talking about unionizing. Which of the following are likely to happen if a union is formed? Check all that apply. The company will be required to engage in collective bargaining with the new union. Employees will have formal methods for addressing their concerns about the company. Matters related to allocating overtime will proceed as they always have because they are usually beyond the scope of a labor contract. Management will have greater freedom regarding employee compensation and benefits.
If a union is formed, the company will be required to engage in collective bargaining with the new union. This means that the company will have to negotiate with the union on issues such as wages, benefits, and working conditions. The union will act as a representative for the employees and will work to ensure that their rights are protected.
Employees will have formal methods for addressing their concerns about the company. The union will provide a platform for employees to voice their concerns and grievances. This can include issues such as discrimination, harassment, and unsafe working conditions. The union will work to ensure that these concerns are addressed and resolved.
Matters related to allocating overtime will not proceed as they always have because they will now be governed by the labor contract. The union and the company will negotiate the terms of the contract, including how overtime is allocated. This can have an impact on the amount of overtime available, who is eligible for overtime, and how it is paid.
Management will have less freedom regarding employee compensation and benefits. The union will negotiate the terms of the labor contract, including wages and benefits. This means that management will have less control over these areas and will have to abide by the terms of the contract. However, this can also provide stability and predictability for both the company and the employees.
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