Answer:
Turn-key project
Explanation:
Based on this scenario, it can be said that the foreign entry mode being used is known as a Turn-key project. This term refers to when a construction project is completely undertaken by the developer and they take full responsibility of from the design to the completion of the entire project, thus handing the project to the buyer and in ready to use condition. Which is exactly what Southwest Petroleum is doing for its clients.
Which of the following was the result in Larry S. Lawrence v. Bainbridge Apartments, the case in the text in which the window washer argued that he was entitled to recover against the building owner for his injuries in a fall?
A. The window washer was entitled to workers' compensation as an employee.
B. The window washer was entitled to a recovery in tort based on the inherently dangerous activity at issue and the defendant's failure to take sufficient precautions.
C. The window washer was not entitled to recover because he took insufficient precautions for his own safety.
D. The window washer was entitled to no recovery based on his status as an independent contractor. p. 760
Background image
Answer:
D. The window washer was entitled to no recovery based on his status as an independent contractor.
Explanation:
The reason is that the employer is liable to have all safety measures in place to safeguard the employee from any type of injury at work. If despite all these safety measures, the employee gets injured then he is entitled to workers' compensation.
However, the employer is not liable to compensate independent contractors for accidents as the duty of care is not upon the employer in the case of independent contractors which means that the independent workers are obliged to take all necessary precautions to avoid any injury because it will not be compensated by the employer. Thus, the employer is not liable to compensate independent contractors and option D is correct.
The fixed cost of Widget Corp., a keyboard manufacturing company, is $600,000 per year. The cost of equipment and labor to make one keyboard is $10. If the customers would pay $25 to buy one keyboard, Widget Corp. needs to sell _____ keyboards to make profits.
Answer: more than 40000
Explanation:
Given : Fixed cost per year = $600,000
Cost of equipment and labor to make one keyboard = $ 10
Selling price of 1 keyboard = $25
Gain on each keyboard = Selling price - cost
= $25 - 410
= $15
Minimum number of keyboards need to sell to make profit = ( Fixed cost) ÷ (Gain)
= 600,000 ÷ 15
= 40000
Hence, Widget Corp. needs to sell more than 40000 keyboards to make profits.
You own 1,000 shares of stock in Avondale Corporation. You will receive a dividend of $1.04 per share in one year. In two years, Avondale will pay a liquidating dividend of $37.50 per share. The required return on Avondale stock is 15.8 percent. What will your dividend income be this year if you use homemade dividends to create two equal annual dividend payments? a. $19,270 b. $16,712 c. $18,667 d. $17,935 e. $20,400
Answer:
Dividend = $17,935
Explanation:
We need to calculate the current share price
Current share price = ({Dividend year 1} ÷ {1 + required return}) + ({Dividend year 2} ÷ {1 + required return}^2)
Current share price= ({1.04} ÷ {1 + 0.158}) + ({37.5} ÷ {1 + 0.158}^2)
Current share price= 0.898 + 27.96
Current share price= $28.86
To calculate income for 2 years
Share price is $28.86
Return is 15.8%
Current share price = ({Dividend year 1} ÷ {1 + required return}) + ({Dividend year 2} ÷ {1 + required return}^2)
28.86 = ({Dividend year 1} ÷ {1 + 0.158}) + ({Dividend Year 2} ÷ {1 + 0.158}^2})
28.86 * 1.158 * 1.341 = (Dividend * 1.158) + (Dividend * 1.341)
44.82 = 2.499 * (dividend)
Dividend = $17.935
So for 1,000 shares
Dividend = 1,000 * 17.935 = $17,935
. In one year, Hitech Microdevices will pay a common stock dividend of $4.35. You predict that you will be able to sell your Hitech stock for $57 per share after 1 year. If you require a rate of return of 16 percent on Hitech stock, how much would you be willing to pay now for a share of the stock?
Answer:
$52.89
Explanation:
To calculate the present value of a stock, we use the formula,
D + E
(1 + R)^Y
where, D = expected dividend, $4.35
E = expected stock price, $57
R = real rate of return, 16% or 0.16
Y = Number of years, 1
we have,
$4.35 + $57
(1 + 0,16) ^1 = $61.35 ÷ 1.16
= $52.887 ≈ $52.89.
The present value of the stock is $52.89.
Cheers.
A customer has purchased 5,000 shares of ABC corporation stock in lots of 100 shares over an extended period of time at varying prices. The customer now sells 500 of the shares. Which statement is TRUE
Answer:
c. IRS rules allow the taxpayer to specify which shares being sold
Explanation:
Given that
Number of shares purchased = 5,000
Number of lots for shares = 100
The Number of shares sold = 500
based on the above information,
According to the internal service revenue (IRS) the taxpayer should be permitted to specify that shares which are sold i.e 500 shares so the same is to be considered
hence, the option c is correct
Which of the following statements is true about the constant growth model?
A- the constant growth model can be used if a stock's expected constant growth rate is more than its required return
B- The constant growth model can be used if a stock's expected constant growth rateis less than its required return
Answer: The constant growth model can be used if a stock's expected constant growth rate is less than its required return.
Explanation:
The Constant Growth Model is a stock valuation method.
It assumes that a company's dividends are increasing at a constant growth rate indefinitely.
Formula: Current price = (Next dividend the company is to pay) ÷ (required rate of return for the company - expected growth rate in the dividend.
When expected constant < required return, then the constant growth model can be used.
Hence, the statement is true about the constant growth model :
The constant growth model can be used if a stock's expected constant growth rate is less than its required return.
If a stock's predicted constant growth rate is smaller than its needed return, the constant growth model can be utilized.
So, option B is correct.
Define constant growth model.The constant growth model is used to calculate a stock's inherent value depending on a succession of dividends that increase at a constant pace in the future.
Dividends per share, the growth rate of dividends per share, as well as the rate of return are the three inputs inside the constant growth model.
If a stock's predicted constant growth rate is smaller than its needed return, the constant growth model can be utilized.
So, option B is correct.
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Karl knows that TrueHeart Industries prides itself on using green processes to reduce its impact on the environment. During his interview with the hiring manager at TrueHeart, Karl recounted a story about the recycling program he set up in his dormitory at the university. By doing so, Karl was communicating to his potential employer that he has
Answer: character
Explanation:
From the question, we are informed that Karl knows that TrueHeart Industries prides itself on using green processes to reduce its impact on the environment and that during his interview with the hiring manager at TrueHeart, Karl recounted a story about the recycling program he set up in his dormitory at the university.
By doing so, Karl was communicating to his potential employer that he has character. Doing this will help leave a positive impression on the hiring manager.
Suppose you are the Purchasing Manager for a large chain of restaurants in the United States, and you need to make your semiannual purchase of tea. You pay $1,500,000 for a shipment of tea from an Indian tea producer.
(1) What is the impact of this purchase on US imports and capital flows?
(2) What is the impact of this transaction on US net exports?
Answer with Explanation:
Requirement 1.
The US import will increase by $1,500,000 due to purchase of indian tea product and this import of tea would result in increase of capital outflow as the Net export particular to importation is negative hence capital outflow is genuine effect.
Requirement 2.
The Net exports can be calculated as under:
Net Exports = Exports - Imports = 0 - $1,500,000 = - $1,500,000
The US Net Exports would decrease by $1,500,000.
What is the single most important factor in determining the success or failure
of a project?
O A. Communication
B. Schedule
C. Budget
D. Risk
SUBMT
Answer:
Answer Choice: A. Communication
Explanation:
Communication is the single most important factor in determining the success or failure of a project because the better you explain the project the higher your grade will be so, that will result in your grade being a A or a B so, that will cause you to pass, and the worst you explain the project the lower your grade will be so, that will result in your grade being a C or D or F (or an E depending on how your school grades) so, that will cause you to fail.
Answer:
here
Explanation:
Humble leaders display all of the following key qualities valued by employees except Multiple Choice appreciation of others. low self-awareness. openness to feedback. appreciation of the greater good. low self-focus.
The correct answer is B) low self-awareness.
Humble leaders display all of the following key qualities valued by employees except low self-awareness.
What employees value is high self-awareness, the appreciation of others, openness to feedback, appreciation of the greater good, and low self-focus.
A true leader is an individual who not only leads but teaches others how to lead to. For this to happen, trust is a key value so the employees can feel that indeed there is a true team atmosphere in the organization. Employees must feel appreciated, valued, and motivated through a common goal. That is why it is so important that the leader sets the example all the time.
Low self-awareness should not show the key qualities valued by employees.
The following information should be considered for key qualities:
Appreciation of others.Openness to feedback. Appreciation of the greater good. Low self-focus.Also, low self-awareness represents the value of an employee that should be harmful for everyone.
Therefore we can conclude that Low self-awareness should not show the key qualities valued by employees.
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The base year in the consumer price index (CPI) is:_________.
a) established by law.
b) given a value of zero.
c) a year chosen as a reference for prices in all other years.
d) always the first year in the current decade.
Answer:
C. a year chosen as a reference for prices in all other years.
Explanation:
Base year in the consumer price index (CPI) is a year chosen as a reference for prices in all other years.
Consumer Price Index (CPI) is a measure that is used to determine the weighted average of prices of a quantity of consumer goods and services.
Changes in the consumer price index helps to determine price changes associated with the cost of living. The consumer price index is one of the most frequently used statistics for identifying periods of inflation or deflation in an economy.
The formula used to calculate consumer price index for a product
= cost of purchasing the product in the given year ÷ cost of purchasing the product in the base year ×100
The base year or period refers to reference point in time iseda for comparison with other years or periods. It is used to measure financial and economic data.
period is a point in time used as a reference point for comparison with other periods. It is generally used as a benchmark for measuring financial or economic data.
Suppose you are looking at the 2006 results of how the Echo generation classified specified items as either luxuries or necessities. Do you expect the results to reflect how the Echo generation would classify items in 2020? Explain. No, many luxury brands will no longer exist in 2020, and will thus be unavailable for purchase. Newer luxury brands will dominate the lists. Yes, people's ideas of luxuries or necessities rarely change. No, the generation will have aged by 14 years and their perception of items as necessities or luxuries might well have changed by then. Yes, though the generation will have aged by 14 years, their perception of items as necessities or luxuries will not have changed by then. Yes, the costs of luxuries or necessities doesn't change that much with time, so they would still be considered luxuries or necessities in 2020.
Answer:
No, the generation will have aged by 14 years and their perception of items as necessities or luxuries might well have changed by then.
Explanation:
In this the individual perception important. That means if the person considered the necessity so it would not be the necessity after the age of 14 years and if the person considered the luxury so the necessity would be considered for the same person after the age of 14 years
So the necessity and the luxury would be changed as per the perception
Therefore the answer is no.
A buyer bought a house, received a deed, and moved into the residence but neglected to record the document. One week later, the seller died and the heirs in another city, unaware that the property had been sold, conveyed title to a relative, who recorded the deed. Who owns the property
Buyer because he neglected the documents.
In the given case, buyer owns the property because he neglected the documents.
Who is the buyer?Anyone in the financial or business fields who research, assesses, and buys things for businesses to sell or utilize in their operations is referred to as a buyer.
Buyers, often referred to as purchasing agents, have to stick to a budget and frequently haggle for reasonable prices on the goods they wish to purchase. A person can learn more about the clients' requirements and desires by using buyer personas. This makes it possible to appeal to those particular desires more successfully.
Therefore, due to his lack of the paperwork, the buyer in the above situation is the owner of the property.
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Mike worked for Frank's Pizza as a driver. His duties consisted of making deliveries along a designated route. One day Mike decided to see his girlfriend, Jackie, who lived 50 miles out of his pizza route. While driving to his girlfriend's, Mike injured a pedestrian, Chuck. The accident was caused because of Mike's negligent operation of the delivery truck. Chuck is now suing both Mike and Frank's for personal injuries. Under the circumstances:
Answer:
Frolic
Explanation:
According to the given situation, Mike is a driver of Frank Pizza. He used to deliver pizzas with designated route. Mike wanted to meet with her girlfriend who is living 50 miles out of the route of pizza. Mike injured a pedestrian, Chuck, while driving towards his girlfriend's. The accident was caused as a result of Mike's incompetent delivery truck service. Now chuck is trying to claim from Mile as well as Frank Pizza company.
Here, Frank pizza is not responsible as mike was frolic of his own. Mike was frolic as he want to meet his girlfriend which does not come to his duties.
Therefore, It will also clear his employer of any responsibility, since he at the time was not operating on the route designated.
A borrower expresses a reluctance to continue signing documents. The Notary Signing Agent may:A borrower expresses concern that once he signs all the documents he will be "stuck" with a second mortgage. A good response by a Notary Signing Agent could be to:
Answer:
Explanation:
In this scenario, a good response by a Notary Signing Agent could be to provide the Borrower with the Lender's contact information, and suggest that he call the Lender immediately before continuing with Signing. This will allow the borrower to clear up any doubts or misconceptions that he may be having which will in term persuade him to sign all the documentation.
During the market testing stage of the new-product process, a product may be tested multiple times with consumers to get their reactions with test marketing, one type of which is known as
Answer:
Simulated test markets.
Explanation:
During the market testing stage of the new-product process, a product may be tested multiple times with consumers to get their reactions with test marketing, one type of which is known as simulated test markets.
A simulated test market can be defined as a marketing research technique that involves the exposure of consumers to an unreal market in order to observe their reactions to a new product. It involves advertising in stages through a simulated market so as to determine a customer's purchase decision, forecast demand and market analysis for a new product.
Hence, a simulated test market is aimed at observing and analyzing potential customer's reaction to a new product before it's introduced to the market.
Brief Exercise 5-13 Bridgeport Company reported 2017 net income of $158,800. During 2017, accounts receivable increased by $18,000 and accounts payable increased by $9,740. Depreciation expense was $47,500. Prepare the cash flows from operating activities section of the statement of cash flows.
Answer:
The amount of cash flow provided by operating activities is $198,040
Explanation:
The cash flow from operating activities section of the statement of cash flows begins with net income with adjustments made for non-cash expenses as prepared below:
Net income $158,800
depreciation $47,500
increase in accounts receivable ($18,000)
increase in accounts payable $9,740
Cash generated from operating activities $198,040
A mortgage-loan officer persuades unsuspecting consumers to sign up for exotic mortgages, such as "option ARMs." These mortgages offer borrowers the choice to pay less than the required interest, which is then added to the principal while the interest rate can adjust upward. Because of this setup, many borrowers are unable to repay the mortgage once the interest rates go up. Which of the following phrases best describes this scenario? (CSLO 4)
A. legal but not ethical
B. legal and ethical
C. neither legal nor ethical
D. ethical but not legal
Answer: A. legal but not ethical
Explanation: Introducing mortgage plans to consumers in other to cater for their needs by a mortgage-loan officer is not a legal crime which will be penalized by the law. However, it is an ethical obligation on the path of the mortgage-loan officer to explain the modalities attached to a certain mortgage plan to consumers, both the advantages and the demerits. In the options ARM mortgage plan, it affords consumers to pay below the interest rate on the mortgage, this short paid interest are later added to the principal and the rates increases. This may cause a lot more harm than good to consumers who do not have detailed knowledge of this particular loan process.
Buyline is an e-commerce Web site. It has come up with a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced. In this case, it is evident that BuyLine is a _____.
Answer:
Group buying platform
Explanation:
Group buying platform is also known as collective buying and is when the prices of goods and services are significantly reduced on the condition that a minimum number of buyers make purchase.
Usually there is a deal of the day displayed that is activated when the minimum number of buyers has been reached.
In this scenario Buyline has a promotional offer where buyers get a 60 percent discount on refrigerators if a minimum of 100 buyers agree to buy the product within 24 hours of the offer being announced.
This is a group buying platform
Two common forms of a focused approach to corporate entrepreneurship include ______________ and _____________. Multiple Choice internal collaboration; internal venturing social capital; collaboration capital business incubators; new venture groups focus groups; business incubators
Answer:
Two common forms of a focused approach to corporate entrepreneurship include business incubators and new venture groups.
Explanation:
I found the answer to this on Quizlet, I hope this helps :)
Business incubators and new venture groups are two typical examples of a focused approach to corporate entrepreneurship. Thus option (C) is correct.
What is corporate?A corporation is a collection of people or a business that has been given legal status as a single entity by the state and is used for specific legal purposes. Early corporations were created with a charter. The majority of governments currently permit the registration of new corporations.
Corporate refers to a group of large enterprises or a specific large company. For corporate clients as opposed to private ones, interest rates are greater. Both the economy and business earnings are expanding. Corporate refers to a group of large enterprises or a specific large company.
Therefore, Thus option (c) is correct.
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Assuming that the physical output (i.e., the actual quantity of all final goods and services) of all final goods and services remains constant, if the general price level in the economy triples, so does nominal output.
a) true
b) false
Answer:
a) true
Explanation:
A rise in the general price level is called inflation and it affects the nominal value of the company's output. E.g. you sell pants and last year they sold at $10 and now since inflation rate is 10%, they sell at $11. But inflation only affects nominal values, it doesn't affect real values which are calculated using a base price of a certain year X, times the quantity sold. Following the example, your real output would not be $11 per pair of pants, instead it would still remain at $10 since the inflation is discounted.
Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2021. Power Drive has the following transactions affecting stockholders' equity in 2021.
March 1 Issues 55,000 additional shares of $1 par value common stock for $52 per share.
May 10 Purchases 5,000 shares of treasury stock for $55 per share.
June 1 Declares a cash dividend of $1.50 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.)
July 1 Pays the cash dividend declared on June 1.
October 21 Resells 2,500 shares of treasury stock purchased on May 10 for $60 per share.
Required:
Record each of these transactions.
Answer and Explanation:
The journal entries are shown below:
On March 1
Cash Dr (55,000 × $52) $2,860,000
To Common stock (55,000 × $1 per share) $55,000
To Additional paid in capital - common stock $2,805,000
(Bein the issuance of the common shares are recorded)
On May 10
Treasury stock Dr (5,000 shares × $55) $275,000
To Cash $275,000
(being the purchase of treasury stock)
On June 1
Dividend Dr (150,000 shares × $1.50) $225,000
To Dividend payable $225,000
(Being the cash dividend is declared)
On July 1
Dividend payable Dr (150,000 shares × $1.50) $225,000
To cash $225,000
(being the dividend paid is recorded)
On October 21
Cash Dr (2,500 shares × $60) $150,000
To Treasury stock (2,500 shares × $55) $137,500
To Additional paid in capital - treasury stock $12,500
(Being the reissuance of the treasury stock is recorded)
the difference between a secured loan and unsecured loan is that the secured loan is
Answer:
Explanation:
A secured loan is a type of loan on which the borrower uses some assets for collateral . That means it is secured on the assets in the case of any default in terms by the borrower.
An unsecured loan on the other hand is a type of loan that is not secured on any assets . The risks related to this type of loan is higher as there is no security to cover or minimize the loss in the situation of a default in terms.
Looking at the definition given above , the difference between a secured and unsecured loan is that assets are promised by the borrower as security over a secured loan , hence the cost can be lower while in the unsecured loan , no asset is promised as security and the cost can be higher
Answer:
has a lower interest rate
Explanation:
Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames is highly elastic. A tax of $1 per frame levied on picture frames will decrease the effective price received by sellers of picture frames by
Answer:
The decrease in the effective price received by sellers is between $0.51 and $1.
Explanation:
Given the demand for picture = Inelastic
The supply of picture frames = highly elastic
Levied tax on picutre frames = $1
It is given that the demand for the frames is highly inelastic therefore the response of the buyer will be less. That means the proportionate change in demand will be lower than the proportionate change in the price of a commodity. Thus, the answer will be between $0.50 and $1.
When property rights are well defined and markets are: competitive market equilibrium violates the conditions for economic efficiency.market equilibrium is consistent with economic efficiency.conditions necessary for economic efficiency no longer apply.quantity supplied will rarely equal the quantity demanded.
Complete Question:
When property rights are well defined and markets are competitive, the
Group of answer choices:
a. market equilibrium violates the conditions for economic efficiency.
b. market equilibrium is consistent with economic efficiency.
c. conditions necessary for economic efficiency no longer apply.
d. quantity supplied will rarely equal the quantity demanded.
Answer:
b. market equilibrium is consistent with economic efficiency.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Also, a competitive market is a type of market that comprises of numerous producers who compete with each other so as to satisfy or meet the material needs and wants of consumers at a specific period of time.
Hence, when property rights are well defined and markets are competitive, the market equilibrium is consistent with economic efficiency.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
Refer to Scenario 16.2. The makers of Whizz considered a new promotional method for their product. A small box of Whizz was placed in the mailbox of college students as they came on campus in the fall. Along with the Whizz, the students received a coupon for $1.00 off their next purchase. They could receive another coupon for $3.00 off if they went online and emailed five friends at another college, telling them about Whizz. The friends could then go to a website and print a coupon for $2.00 off their next purchase. The sample boxes given to the college students are an example of ____, while the emails to the five friends are an example of ____.
Answer: Sales promotion ; viral marketing
Explanation: Sales promotions may be explained as technique used by businesses to appease and lure their target market into buying and using their product through the use of appealing incentives such as cost or slash sales, free coupons or discount on purchase and various promotions which are normally not attached to buying the product. Viral marketing in the other hand simply employs the use of internet technology such as mail and social media in the spread of a business campaign and information. It is termed viral marketing as information dissemination can be so rapid when done via this channel.
Xerox, the U.S. Postal Service, and McDonald's have enjoyed significant market power in the past. List and explain three major factors that have eroded this market power. Market power is eroded when A. better substitutes become available because the market has less competition. B. fewer substitutes are available because the market has less supply. C. no substitutes are available because consumers have no choices. D. better substitutes become available because consumers will not be willing to pay as much for a good. E. fewer substitutes are available because consumers are more sensitive to prices.
Answer:
Correct Answer:
E. fewer substitutes are available because consumers are more sensitive to prices.
Explanation:
Market power is the ability of a company to successfully influence the pricing of its products or services in the overall marketplace. This is common among most big corporations that produces consumer goods and offer services.
This market power can be influenced by some factors. On the other-hand, the market power could be eroded leading to inability of the companies to influence prices do to the following:
1. Number of companies in the market: The lower the companies producing same product in the market, the higher the chances of the companies to be able to influence market prices. Otherwise, the market power will be eroded due to high number of companies.
2. Elasticity of demand: The persistent demand of a product by people helps to determine the market power of those companies. When this is lacking, the market power is eroded.
3. Product differentiation: The ability of a company to provide a unique product that offers good services in a market helps it to achieve market power. Lack of these erodes the market power.
A plant manager had taken a few measures to try to reduce worker turnover. For four months he monitored the implementation of the measures. He now finds that the turnover rate is reduced by 10 percent. Which step of the rational decision-making model is illustrated in the scenario
Answer:
Evaluating the results.
Explanation:
A Rational decision-making model is demonstrated as the structured and logical decision-making process consisting of various steps beginning from definition and identification of goals to reaching an effective solution after evaluation of plenty of alternatives.
In this situation, 'evaluating the results' is the step of rational-decision making process that is illustrated in this scenario as it aims to assess the effect of the implementation of the best solution selected in the previous step after assessing the problem and evaluating a number of alternatives. This step aims to test whether the solution worked and to give feedback on how to alter future decisions for better results according to this assessment.
Last year, the Corporation worked 19,400 actual direct labor-hours and incurred $156,400 of actual manufacturing overhead cost. They had estimated at the beginning of the year that 17,200 direct labor-hours would be worked and $154,800 of manufacturing overhead costs incurred. The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour. The Corporation's manufacturing overhead for the year was:
Answer:
Results are below.
Explanation:
Giving the following information:
Last year, the Corporation worked 19,400 actual direct labor-hours.
The Corporation had calculated a predetermined overhead rate of $9 per direct labor-hour.
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 9*19,400
Allocated MOH= $174,600
Now, we can determine the over/under allocation:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 156,400 - 174,600
Under/over applied overhead= $18,200 overallocated
Jerome says that he will spend exactly $25 (think sales/revenue) each month on new apps for his mobile device, regardless of the price of apps. Jerome’s demand for apps is a. Perfectly elastic. b. Unit elastic. c. Perfectly inelastic. d. Somewhat inelastic, but not perfectly inelastic.
Answer:
Option B, unit elastic.
Explanation:
The option “b” is correct because as per the expenditure method to calculate the elasticity of demand when the total expenditure (TE) remains the same regardless of the increase or decrease in the price or quantity then the elasticity is equal to one. Thus when elasticity is equal to one this is called the unit elastic demand. thus, option b is right.