Answer:
In the early 1950s, the currency that Magnum Corporation carried out its business activities was the US Dollar.
Explanation:
The company has since expanded its operations worldwide. Magnum Corporate was a US-headquartered corporation. Its business model was founded on the production and sale of rearview mirrors, according to history. These days, many of its business activities are conducted across the globe. These also require interaction with other countries' currencies and the translation of its financial performances by the use of foreign exchanges.
Financial accounting information ________.
should be incomplete in order to confuse competitors
should be prepared differently by each company
provides investors guarantees about the future
summarizes what has already occurred
Pretty sure it is D. summarizes what has already occurred.
Definitely not A or B. And C is incorrect because this branch of accounting tracks passed transactions, and does not guarantee anything in the future. Hence D.
LDR manufacturing produces a pesticide chemical and uses process costing. There are three processing departments - Mixing, Refining, and Packaging. On January 1, 2012, the first department , Mixing, had a zero beginning balance. During January, 40000 liters of chemicals were started into production. During the month, 32,000 liters were completed, and 8000 remained in process, partially completed. In the mixing department, all raw materials are added at the beginning of the production process, and conversion costs are applied evenly through the process.
At the end of January, the equivalent unit data for the Mixing Department were as follows:
equivalent units | transferred in
units to account for
completed 32000 | 0
end bal WIP 8000 | 0
40000| 0
equivalent units
Direct Mtls Cost | conversion cost
32000 | 32000
8000 | 4800
40000 | 36800
In addition to the above, the costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs. Using this data, please calculate the full cost of the units that were transferred out of the Mixing Department and into the Refining Department.
a) $222400
b) $48000
c) $37200
d) $211600
Answer:
Total cost transferred to Refining would be $222400
Explanation:
The costs per equivalent unit were $1.20 for direct materials and $5.75 for conversion costs
Since all the materials are added in the beginning of the process the equivalent units for materials are 40,000
The Equivalents units transferred out are 32000 both for materials and conversion
So the total cost transferred to Refining would be
32000 * 1.20 = $ 38400
32000 * 5.75 = $ 184000
Total $222400
Suppose there are three firms in a market. The largest firm has sales of $50 million, and each of the other two firms has sales of $25 million. The Herfindahl-Hirschman Index of this industry is:________.
a. 2,500.
b. 3,750.
c. 2,550.
d. 3,125.
Answer:
b. 3,750.
Explanation:
The computation of the Herfindahl-Hirschman Index of this industry is shown below:
Herfindahl-Hirschman Index of this industry is
= ($50 million) ^2 + ($25 million) ^2 + ($25 million) ^2
= $2,500 + $625 + $625
= $3,750 million
Hence, the correct option is b. $3.750
We simply do the above calculation so that the index could come
Which of the following is the most authoritative source of tax law?
A. Income Tax Regulations.
B. Internal Revenue Code.
C. Letter Rulings.
Answer:
B. Internal Revenue Code.
Explanation:
The federal tax laws of the U.S. are jotted under Title 26 in the U.S. Code. The Internal Revenue Code has been headed under Title 26. The laws have been divided and organized separately. The income tax, gifts, and excise taxes are arranged by dividing them into subtitles. Internal Revenue Service has been assigned the task of looking into the implementation of the laws.
You have been asked to give a presentation to your co-workers in the digital marketing department at your current employer on what factors should be considered in assessing the effectiveness of your firm’s search and display ads more accurately. Choose any two of the five issues related to measuring the effectiveness of search and display ad that are discussed in the Digital Marketing reading and briefly outline what you will tell your co-workers.
Answer:
Five metrics for measuring the effectiveness of Display Ads are:
ImpressionsClick-Through RateViewersConversions/Return on Investment (ROI)Returning visitorsI will speak on item 1 and item 4 using the following outlines:
Item 1:
Unfilled ImpressionsFluctuating ImpressionsHow ad impressions are measured by GoogleItem 2:
How to calculate Conversions/ROI on Display ADsConversion TrackingImproving Conversion and ROI on Display ADsCheers!
You have $130,000 to invest in a portfolio containing Stock X and Stock Y. Your goal is to create a portfolio that has an expected return of 14.6 percent. Stock X has an expected return of 12.8 percent and a beta of 1.30, and Stock Y has an expected return of 7.8 percent and a beta of 1.05. a. How much money will you invest in Stock Y? (Do not round intermediate calculations. A negative answer should be indicated by a minus sign.) b. What is the beta of your portfolio? (Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.)
Answer:
Let X be the amount invested in stock A
Let 1-X be the amount invested in stock B
Expected rate = (Required rate of X* X) + (Required ratebof Y * (1-X))
0.146 = (0.128 * X) + (0.078 * (1-X))
0.146 = 0.128X + 0.078 - 0.078X
0.146 - 0.078 = 0.128X - 0.078X
X = 0.068/0.05
X = 1.36
Amount to be invested in Stick X = $130,000 * 1.36
= $176,000
Amount to be invested in Stock Y = (1-X) * Available amount
= (1-1.36) * $130,000
= $46,800
Therefore, the amount to be invested in Stick Y = -$46,800
Calculation of the portfolio beta
bp = w1b1 + w2b2 + ........ + wnbn
bp = (1.36*1.3) + ((-0.36) * 1.05)
bp = 1.768 - 0.378
bp = 1.29
Therefore, the portfolio beta is 1.39
A company uses the weighted average method for inventory costing. At the start of a period the production department had 28,000 units in beginning Work in Process inventory which were 44% complete; the department completed and transferred 169,000 units. At the end of the period, 26,000 units were in the ending Work in Process inventory and are 79% complete. The production department had conversion costs in the beginning goods is process inventory of $103,000 and total conversion costs added during the period are $726,925. Compute the conversion cost per equivalent unit.
Answer: $4.38
Explanation:
Conversion costs are based on completed units so those units that are yet to be completed will be converted into equivalent units.
Units produced = Units completed and transferred out + equivalent WIP
= 169,000 + (26,000 * 79%)
= 169,000 + 20,540
= 189,540 units
Total Conversion costs = beginning conversion costs + conversion costs added during period
= 103,000 + 726,925
= $829,925
Conversion cost per equivalent share
= 829,925/189,540
= 4.3786
= $4.38
The statement that "the unemployment rate will increase as the economy moves into a recession" is an example of:
Answer:
D. A generalization
Explanation:
here are the options to this question :
. A normative statement
B. A fallacy of composition
C. Loaded terminology
D. A generalization
A generalization is a statement that is true most time but not in all cases.
When comparing Real Estate Investment Trusts (REITs) to Real Estate Limited Partnerships (RELPs), which of the following statements are TRUE?I REITs allow for flow through of gainII RELPs allows for flow through of gainIII REITs allow for flow through of lossIV RELPs allow for flow through of lossa. I and II onlyb. III and IV onlyc. I, II, IVd. I, II, III, IV
Answer: c. I, II and IV
Explanation:
A real estate investment trust is a company which owns, and operates real estate while real estate limited partnership (RELP) is a real estate investment whereby several investors use their money to either develop or buy real estate.
Based on the information in the question, the true options are:
• REITs allow for flow through of gain
• RELPs allows for flow through of gain
• RELPs allow for flow through of loss
It should be noted that REITs doesn't allow for flow through of loss while RELP is a tax sheltered investment and therefore it gives room for gain and loss.
When Isaiah Company has fixed costs of $122,090 and the contribution margin is $29, the break-even point is
Answer:
Break-even point in units= 4,210 units
Explanation:
Giving the following information:
Isaiah Company has fixed costs of $122,090 and the contribution margin is $29.
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 122,090/29
Break-even point in units= 4,210 units
At the beginning of 2018, ABC began offering a 1-year warranty on its products. The warranty program was expected to cost ABC 4% of net sales. Net sales made under warranty in 2018 were $180 milion. Five percent of the units sold were returned in 2018 and repaired or replaced at a cost of $5.3 million. The amount of warranty expense on ABC's 2018 income statement is
A) $27.0 million.
D) S5.3 million.
B) S9.0 million.
C) S7.2 million.
Answer:
$7.2 million
Explanation:
Calculation for the amount of warranty expense on Angel's 2016 income statement
Using this formula
Warranty expense =Net sales ×Expected percentage of net sales
Let plug in the formula
Warranty expense=$180 million×4%
Warranty expense=$7.2 million
Therefore the amount of warranty expense on Angel's 2016 income statement will be $7.2 million
A registered representative conducts a seminar about investing in the meeting room of a local apartment complex. At the end of the talk, he hands out his business card and tells the attendees that if they want additional information, please write their contact information on the reverse side of the business card and return it to him. When he gets back to the office and starts to re-contact some of the attendees who returned the business card, he finds that one of them is blocked because the client name is on the National Do Not Call Registry. Which statement is TRUE
Answer:
This prospect can be called by the registered representative expressed consent.
Explanation:
Based on the policy information available, it possible for such a call to occur despite the fact the client is on the National Do Not Call Registry if the registered representative gains expressed consent from the client.
"Which statements are TRUE about IO tranches? I When interest rates rise, the price of the tranche falls II When interest rates rise, the price of the tranche rises III When interest rates fall, the price of the tranche falls IV When interest rates fall, the price of the tranche rises"
The available options are:
A. I and III
B. I and IV
C. II and III
D. II and IV
Answer:
C. II and III
Explanation:
IO tranche which is an acronym for Interest Only tranche is defined as a form of tranche which earns interest only from a secured loan which is derived from Principal Only tranche.
However, Interest Only tranche is quite different from a typical bond, simply because when market interest rate increases the rate of prepayment decreases, which in turn makes the rate of maturity to be longer. Thereby when interest rates increase, prices increase, and vice versa.
Hence the true statements are:
II When interest rates rise, the price of the tranche rises
III When interest rates fall, the price of the tranche falls
If 30,000 after-tax dollars are invested at 7% in a single-premium tax-deffered annuity, how many after-tax dollars will be accumulated in 20 years
Answer:
$72,000Explanation:
We need to first calculate the interest on investing $30,000 after 20 years at 7% in a single-premium tax-deffered annuity using the simple interest formula.
Simple interest = Principal * Rate * Time/100
Simple interest = $30,000*7*20/100
Simple Interest = $42,000
After-tax dollars that will be accumulated in 20 years = Initial investment + Interest = $30,000+$42,000 = $72,000
Hence, after-tax dollars that will be accumulated in 20 years is $72,000.
The following information is available for Shanika Company for 20Y6: Inventories January 1 December 31 Materials $457,760 $563,040 Work in process 823,970 765,730 Finished goods 791,920 782,630 Advertising expense $382,300 Depreciation expense-office equipment 54,050 Depreciation expense-factory equipment 72,630 Direct labor 867,080 Heat, light, and power-factory 28,720 Indirect labor 101,350 Materials purchased 850,190 Office salaries expense 296,720 Property taxes-factory 23,650 Property taxes-headquarters building 48,980 Rent expense-factory 39,980 Sales 3,980,690 Sales salaries expense 488,720 Supplies-factory 19,710 Miscellaneous costs-factory 12,390 Required: 1. Prepare the 20Y6 statement of cost of goods manufactured. Shanika Company Statement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6
Answer:
Shanika CompanyStatement of Cost of Goods Manufactured For the Year Ended December 31, 20Y6:
Materials:
Beginning Inventory $457,760
Purchases 850,190
Cost of materials available $1,307,950
Less Ending Inventory 563,040
Cost of materials used $744,910
Beginning Work in process 823,970
Direct Labor 867,080
Factory Overhead 298,430
Less Ending Work in process (765,730)
Cost of goods manufactured $1,968,660
Explanation:
1) Data and Calculations:
a) Shanika Company for 20Y6:
Inventories January 1 December 31
Materials $457,760 $563,040
Work in process 823,970 765,730
Finished goods 791,920 782,630
Advertising expense $382,300
Depreciation expense-office equipment 54,050
Depreciation expense-factory equipment 72,630
Direct labor 867,080
Heat, light, and power-factory 28,720
Indirect labor 101,350
Materials purchased 850,190
Office salaries expense 296,720
Property taxes-factory 23,650
Property taxes-headquarters building 48,980
Rent expense-factory 39,980
Sales 3,980,690
Sales salaries expense 488,720
Supplies-factory 19,710
Miscellaneous costs-factory 12,390
b) Factory Overhead:
Depreciation expense $72,630
Heat, light, and power 28,720
Indirect labor 101,350
Property taxes-factory 23,650
Rent expense-factory 39,980
Supplies-factory 19,710
Miscellaneous costs 12,390
Total Factory overhead $298,430
c) The cost of goods manufactured is made up of the costs of materials, direct labor, work in process, and manufacturing overhead.
If he earns 5 percent on his money, how much must he deposit at the start of his studies to be able to withdraw $9,000 a year for three years?
Answer:
He must deposit $24,509.23 at the start of his studies.
Explanation:
The amount to be deposited, PV is calculated as follows :
r = 5
Pmt = $9,000
P/yr = 1
n = 3
Fv = $ 0
Pv = ?
Using a Financial Calculator, the amount to be deposited, PV is $24,509.23.
A ceiling fan that was purchased at a local hardware store and then is attached to the ceiling becomes _______ to the property.
Answer:
The fixture, is the right answer.
Explanation:
The “fixture” is the correct answer because the term fixture refers to the piece of equipment or furniture that is fixed in the house or stays at a fixed position in the building. For example, there are many things in the house that are used only at its fixed position like the AC in the room. Once the AC is installed in the room then it is stationary, no one gonna move it from its original place. Likewise in the question, it is about the ceiling fan and the fan is also stationary as it stays at a fix position.
Long-term creditors are usually most interested in evaluating
a) liquidity and solvency.
b) solvency and marketability.
c) liquidity and profitability.
d) profitability and solvency.
Answer:
d) Profitability and Solvency
Explanation:
The long term creditors are transacting with the company for a long term. The long term creditors are looking to the company for paying debt in the future . So long term creditors are looking on profitability ratios and solvency ratio to study on it.
Long-term creditors are usually most interested in evaluating a) liquidity and solvency.
What is Long-term creditorsBanks and bondholders, who lend money for a long time, are worried about how likely a borrower is to pay back their debts over a long period of time. Assessing liquidity means checking if the borrower can pay off its short-term debts, like interest or loan amounts.
Creditors use liquidity and solvency assessments to understand if a borrower is financially stable and will be able to repay their debt on time. This helps the creditors feel confident in the borrower's ability to make payments.
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101. Present Value Find the present value that will grow to $5000 if interest is 3.5% compounded quarterly for 10 yr
Answer:
PV= $3,528.81
Explanation:
Giving the following information:
Future value= $5,000
Interest rate= 3.5% compounded quarterly
Number of periods= 10 years
First, we need to determine the quarterly interest rate and the number of periods:
i= 0.035/4= 0.00875
n=10*4= 40
Now, using the following formula, we can calculate the present value:
PV= FV/(1+i)^n
PV= 5,000/(1.00875^40)
PV= $3,528.81
The data provided here is of Stevenson Company. The tax rate is 30%. From this data, compute the gross margin percentage, net profit margin percentage, the return on total assets, and return on equity for the year 2016. (Data provided in attachment)
The gross profit P is the difference between the cost to make a product C and the selling price or revenue R.
P = R - C
The mark up percentage M is the profit P divided by the cost C to make the product.
M = P / C = ( R - C ) / C
The gross margin percentage G is the profit P divided by the selling price or revenue R.
G = P / R = ( R - C ) / R
HOPE THIS HELPS!!!!! :)
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In the commitment stage of the change process the individual level of commitment can continue to change.a) trueb) false
Answer:
True
Explanation:
In the commitment stage of the change process the individual level of commitment can continue to change.
The individual level of commitment can continue to change as the individual gains experience with the change and continues to find ways to refine and improve the change. The commitment stage is the threshold for change action.
Commitment to change is a force that propels an individual to take action that is deemed necessary for successful implementation of the change.
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called:
Answer:
Real GDP
Explanation:
A measure of GDP in which quantities produced are valued at the prices of a fixed base year is called "Real GDP"!
Real GDP measures the values of the output adjusted for price changes. It reflects the value of all goods and services which are produced in a particular year.
It is also known as "constant-price" GDP. Mathematically, Real GDP = nominal GDP/ deflator.
If the inflation rate is zero, changes in relative prices signal a change in the _____ for the economy.
Answer: desirable mix of output.
Explanation:
It should be noted that spending of consumers will rise when there's an healthy economy and growth in stock market. This implies that more goods are been bought by the people are therefore there'll be more demand for goods.
When inflation rate is at zero, it simply bmeans that there's no robust economy and the demand for goods is not competitive. Therefore, changes in relative prices signal a change in the desirable mix of output.
In the circular flow of income and spending, financial institutions …
[1] act as an intermediary between those who have surplus funds and those who have deficit funds.
[2] are not always useful, as households generally spend all their available funds.
[3] create an injection into the flow by collecting savings from participants with surplus units only; therefore, there is no need to provide funds to deficit units.
[4] generally exist to collect investment spending and transform it into savings.
Answer:
1] act as an intermediary between those who have surplus funds and those who have deficit funds.
Explanation:
Natraj Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department for the month of October appear below:Units % Complete for ConversionBeginning WIP Inventory 5,400 20%Transfers In during October 38,100 Completed / Transferred Out in October 37,800 Ending WIP Inventory 60%What were the equivalent units for conversion costs in the Lubricating Department in October?
Answer: $41,520
Explanation;
Equivalent units of production are used when some goods have not been fully processed but costs need to be attached to them. The incomplete ones will be converted to complete goods depending on how far along the production process they are.
Equivalent units for conversion costs = Transfers out during October + Ending WIP * Percentage completion
= 37,800 + (5,700 * 60%)
= $41,520
There are many activities in marketing that are interrelated and similar in purpose. These
activities are referred to as marketing
Explanation:
they are in the chain of distribution
channels of distribution aremanufacturer ---agent --- wholesale---retailer ---consumer
Lossing Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Actual Costs Variable overhead costs: Supplies $ 8,300 $ 8,490 Indirect labor 10,770 10,120 Fixed overhead costs: Supervision 16,110 14,540 Utilities 15,400 15,450 Factory depreciation 58,130 59,650 Total overhead cost $ 108,710 $ 108,250 The company based its original budget on 8,300 machine-hours. The company actually worked 8,260 machine-hours during the month. The standard hours allowed for the actual output of the month totaled 8,190 machine-hours. What was the overall fixed manufacturing overhead volume variance for the month?
Answer:
$1,188 unfavorable
Explanation:
Volume variance = Budgeted fixed overhead cost - Fixed overhead applied to work in process.
$89,640 ÷ 8,300 machine hours
= $10.8 per machine hours
= $89,640 - ( 8,190 machine hours * $10.8 per machine hours )
= $89,640 - $88,452
= $1,188 unfavorable
Which of the following interactions with vendors would potentially lead to inventory reductions?
a. reduced lead times
b. increased safety stock
c. less frequent purchases
d. larger batch quantities
e. longer order intervals
Answer: a. reduced lead times
Explanation:
Lead time in a process refers to the amount of time it takes from the process's initiation to its conclusion. In general in Business, the shorter the lead time of a process, the better for the business as it usually leads to higher productivity, output and revenue levels.
Same goes for the reduction of lead times in transaction with vendors. With a shorter lead time, the process of making goods available for sale would be less and thus the goods can be sold in the market quicker therefore reducing inventory levels.
Writer One Inc. manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2018 and 2019 was 8,000 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 2018 2019Units sold 6,500 9,000Units produced 8,000 8,000Costs: Variable factory overhead per unit $0.20 $0.20Fixed factory overhead $1,200 $1,200Variable marketing per unit $0.30 $0.30Fixed Selling and Administrative $320 $320Variable costing operating income for 2015 is calculated to be:a. $430.b. $655.c. $149.d. $1,030.e. $1,180.
Answer:
Results are belolw.
Explanation:
First, we need to calculate the total unitary variable cost:
Unitary variable cost= 0.2 + 0.3= $0.5
Income statement:
Sales= 8,000*0.8= 6,400
Total variable cost= (8,000*0.5)= (4,000)
Contribution margin= 2,400
Fixed factory overhead= (1,200)
Fixed Selling and Administrative= (320)
Net operating income= 880
Operating income is the actual income earned by the business from its regular business operations. It is determined from preparing the income statement at the end of the financial year.
The operating income through variable costing is $880.
The variable cost operating income is prepared by deducting all the variable costs from sales and from the contribution margin entire fixed costs are deducted to determine the net operating income.
The variable cost operating income statement is attached in the image below.
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A company’s loss control department identifies theft as a recurring loss type over the past year. Based on the department’s report, the Chief Information Officer (CIO) wants to detect theft of datacenter equipment.
Which of the following controls should be implemented?
A. Biometrics
B. Cameras
C. Motion detectors
D. Mantraps
Answer:
C.)Motion detectors
Explanation:
From the question, we were told about how a company’s loss control department identifies theft as a recurring loss type over the past year.
Based on this department’s report, the Chief Information Officer (CIO) wants to detect theft of datacenter equipment.
For the Chief Information Officer (CIO) to detect the theft of the datacenter equipment then a Motion detectors is required to be installed.
This Motion detectors make use of sensors to detect when there is a movement in a particular place, so this will help the CIO officer to curb the theft and detect the thief.