A well-known fashion brand in Pakistan recently faced a scandal. The owner's husband got arrested for allegedly sending their employee away upon diagnosis of Corona virus. The Police claimed the designer and her husband should have notified the authorities and admitted the sick employee to a hospital. However, the couple claimed their duty was to just send the employee away after guiding him. The husband got released the very next day for which they thanked Prime Minister.
Answer:
ok
Explanation:
is this real ?? when did this happen ?
The standard price and quantity of direct materials are separated because a.direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department b.standard prices are more difficult to estimate than standard quantities c.standard quantities change more frequently than standard prices d.GAAP and IFRS reporting requires separation
Answer:
a.direct materials prices are controlled by the purchasing department and quantity used is controlled by the production department
Explanation:
In the case when the standard price and the quantity with respect to the direct material are distinct as the price of the direct material would be controlled by the purchasing department while on the other hand, the quantity would be controlled by the production department
Therefore as per the given situation, the correct option is a.
An assembly line with 15 tasks is to be balanced. The longest task is 2.9 minutes, and the total time for all tasks is 17 minutes. The line will operate for 450 minutes per day. a. What are the minimum and maximum cycle times
Answer:
Minimum ⇒ 2.9 minutesMaximum ⇒ 17 minutesExplanation:
Minimum cycle time ⇒ This is the time taken for the longest task to be completed. In this case that is 2.9 minutes.
Maximum cycle time ⇒ This is the time taken for all the tasks to be completed. In this case that is 17 minutes.
Mcniff Corporation makes a range of products. The company's predetermined overhead rate is $19 per direct labor-hour, which was calculated using the following budgeted data: Variable manufacturing overhead $ 32,000 Fixed manufacturing overhead $ 272,000 Direct labor-hours 16,000 Management is considering a special order for 730 units of product O96S at $67 each. The normal selling price of product O96S is $78 and the unit product cost is determined as follows: Direct materials $ 40.00 Direct labor 15.00 Manufacturing overhead applied 19.00 Unit product cost $ 74.00 If the special order were accepted, normal sales of this and other products would not be affected. The company has ample excess capacity to produce the additional units. Assume that direct labor is a variable cost, variable manufacturing overhead is really driven by direct labor-hours, and total fixed manufacturing overhead would not be affected by the special order. Required: The financial advantage (disadvantage) for the company as a result of accepting this special order would be:
An asset group is being evaluated for an impairment loss. The following financial information is available for the asset group: Carrying value $100,000,000 Sum of the undiscounted cash flows $95,000,000 Fair value $80,000,000 What amount of impairment loss, if any, should be recognized
Answer:
The amount of the impairment loss that should be recognized is:
$20,000.
Explanation:
a) Data and Calculations:
Undiscounted cash flows = $95,000
Carrying value = $100,000
Fair value = 80,000
Impairment loss = $20,000
b) Impairment loss for the asset group is the difference between the fair value and the carrying value. It is recognized when the fair value declines from the carrying value. This implies that the calculation to determine the impairment loss is achieved by deducting the fair value from the carrying value.
On January 1, year 1, Olinto created a $650,000 trust that provided his mother with a lifetime income interest starting on January 1, year 1, with the remainder interest to go to his son. Olinto expressly retained the power to revoke both the income interest and the remainder interest at any time. Who is taxed on the trust's year 1 income
Answer:
c. Olinto
Explanation:
Multiple choice "a. Olinto's mother, b. Olinto's son, c. Olinto, d. The trust"
As the income tax rules mandate the liability to pay tax on trustees, the tax can be levied and recovered from a representative assesse i.e., the trustee who is Olinto. Olinto is a grantor and thus as per section 676, he must be taxed on the income generated through revocable trust.
The regular pattern of collection of credit sales is 30% in the month of sale, 60% in the month following the month of sale, and the remainder in the second month following the month of sale. There are no bad debts. The budgeted accounts receivable balance on May 31 would be:
Answer:
$242,000
Explanation:
Calculation for what The budgeted accounts receivable balance on May 31 would be
Accounts Receivable
Debit side
April 320,000
May 300,000
Total $620,000
Credit side
April 96,000 (30% x 320,000)
April 192,000 (60% x 320,000)
May 90,000 (30% x 300,000)
Total=$378,000
The budgeted accounts receivable balance=$620,000-$378,000
The budgeted accounts receivable balance=$242,000
Therefore The budgeted accounts receivable balance on May 31 would be $242,000
The median price of existing homes: ___________
a. has increased over the past 30 years, thereby acting as a hedge against inflation.
b. has risen less than the Consumer Price Index.
c. always increases in value.
d. tends to be countercyclical, thereby acting as a hedge against the business cycle.
e. remains constant over time.
Answer:
C
Explanation:
The median price of existing homes always increases in value. This is so because as the year goes on, there is an ever increasing need for shelter. Because of the fact that people procreate and more people are living, there is the certain need, or say, demand for shelter. And as a result of this, there doesn't seem to be a decline in the demand, and most likely wouldn't be anytime soon either.
Objectives of AllocationSamantha and Rashida are planning a trip to Padre Island, Texas, during spring break. Members of the varsity volleyball team, they are looking forward to four days of beach volleyball and parasailing. They will drive Samantha's car and estimate that they will pay the following costs during the trip:Motel (4 nights at $145) $ 580Food (each) 150Gas in total 120Parasailing and equipment rental (each) 125They have reservations at the SeaScape Motel, which charges $115 per night for a single, $145 per night for a double, and an additional $10 per night if a rollaway $580 155 132 added to a double room. but thinks that four days of partying and relaxing on the beach would be a great way to unwind from the Samantha's little sister, Kallie, wants to go along. S rigors of school. She figures he isn't into sports that she could ride with Samantha and Rashida and share their room Required: 1. Using incremental costs only, what would it cost Kallie to accompany Samantha and Rashida? 2. Using the benefits-received method, what would it cost Kallie to go on the trip? If required, round your intermediate calculations and final answer to the nearest cent.
Answer:
Increase in Motel cost = $10 per night for additional bed * 4 day = $10 * 4 = $40
Additional food cost = $150
Therefore, total cost of including Kallie for the trip is $40 + $150 = $190
1. Incremental Analysis
Without K With K Incremental cost
Motel cost $580 $620 $40
Food $300 $450 $150
Gas in total $120 $120 -
Total Incremental cost $1,000 $1,190 $190
It would cost $190 for Kallie to accompany along
2. Cost to Kallie using benefits received method
Particulars Amount
Motel ($580 + 40)/3 $206.67
Food $150
Gas ($120/3) $40
Total $396.67
Thus, cost to Kallie using benefits received method would be $396.67.
What are some ways that businesses can implement internal accounting controls
Answer:
Segregation of Duties in the Cash Receipts Cycle.
Systems Access and Security.
Safeguarding Assets.
Approval Process.
Review Process.
Explanation:
Describe the technologies that contributed to the development and advancement of the newspaper from small, infrequent circulations of a few brief pages to the mass production of daily, extensive pages of news.
Answer: The industrial revolution came with the advent of the stream powered printing press, enabling newspapers to be produced in masses
Explanation:
The industrial revolution came with the advent of the stream powered printing press, enabling newspapers to be produced in masses. Improvement also took place in the inking process to aid speed up production also introduction of wood pulp helping drive production cost. One of the major advantage for this widespread growth was the relevance the newspaper gained globally as worthy news ready to be reported were available.
Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of 8 years. (1)Determine the (a) depreciable cost for straight rate, (b) straight-line rate, and (c) annual depreciation for the straight line rate (d) double declining balance depreciation amount for 1st year (2) Journalize the sale of the equipment at the end of the 4th year for $20,000 cash, if using the straight line rate.
Answer:
a) Depreciable cost = $61,200
b) Straight-line rate = 12.5%
c) Annual depreciation for the straight-line rate is:
$7,650.
d) The double-declining balance depreciation amount for the 1st year is:
$15,300.
e) Journal Entry of sale of equipment at the end of the 4th year for $20,000, using the straight-line rate:
Debit Sale of Equipment $65,000
Credit Equipment $65,000
To record the transfer of the equipment account.
Debit Accumulated Depreciation $30,600
Credit Sale of Equipment $30,600
To record the transfer of accumulated depreciation to the account.
Debit Cash Account $20,000
Credit Sale of Equipment $20,000
To record the cash received from the sale.
Debit Profit and Loss Account $14,400
Credit Sales of Equipment $14,400
To record the loss on sale of equipment.
Explanation:
a) Data and Calculations:
Cost of computer equipment = $65,000
Estimated residual value = 3,800
Depreciable value = $61,200
Estimated useful life = 8 years
Annual depreciation expense = $7,650 ($61,200/8) or $61,200 * 12.5%
Depreciable cost = $61,200 ($65,000 - $3,800)
Straight-line rate = 12.5% (100%/8)
Double-declining rate = 12.5% x 2 = 25%
Depreciation amount for the 1st year = $15,300 ($61,200 * 25%)
Book value of asset at the end of the 4th year, straight-line method:
Cost of equipment = $65,000
Accumulated Depreciation = $30,600 ($7,650 * 4)
Book value = $34,400
Sales proceed = $20,000
Loss on sale of asset = $14,400 ($34,400 - $20,000)
n the theory of perfect competition, the assumptions of many buyers and sellers, the production of a homogeneous product, and the possession of all relevant information by buyers and sellers imply that the perfectly competitive firm a. has a demand curve that is perfectly inelastic. b. has a demand curve that is perfectly elastic. c. sets the price it wishes. d. has a demand curve that is downward sloping
Answer:
b. has a demand curve that is perfectly elastic. c. sets the price it wishes
Explanation:
Elasticity of demand is a measure of the degree of change in quantity demanded to changes in price.
For a perfectly elastic demand it means that an infinite quantity of a product will be required by consumers at a particular price. The perfectly elastic demand curve is usually horizontal.
In perfectly competitive markets elasticity of demand is perfectly elastic because there are many buyers and sellers, production of a homogeneous product, and the possession of all relevant information by buyers and sellers.
So prices between products tend to be the same
During 2020, Sandeep had the following transactions: Salary $ 80,000 Interest income on City of Baltimore bonds 1,000 Damages for personal injury (car accident) 100,000 Punitive damages (same car accident) 200,000 Cash dividends from Chevron Corporation stock 7,000 Sandeep's AGI is: a.$387,000. b.$285,000. c.$287,000. d.$187,000.
Answer: c.$287,000.
Explanation:
City of Baltimore bonds are Municipal so their interest are tax exempt and so are Damages for personal injury.
Sandeep's AGI is therefore;
= Salary + Punitive damages + Cash dividends from Chevron
= 80,000 + 200,000 + 7,000
= $287,000
What are the three main categories of a tax return?
A.
allowances, deductions, and income
B.
credits, allowances, and withholding
C.
income, deductions, and credits
D.
allowances, deductions, and credits
Answer:C.
Explanation:
Explanation:
C.
income, deductions, and credits
Write an equation to solve and find the answer to the following rate problem. Show all of your work. A gardening store sells 6 plants per hour. How many plants they will sell in 5 hours?
Answer:
30 plants
Explanation:
The store sells six plants per hour; in 5 hours, the store will sell
i.e., 1 hr = 6 plants,
if 5 hr = 6 plants x 5
=30 plants
Answer:
21
Explanation:
The price of Good B increases by 4%, causing the quantity demanded of Good A to decrease by 6%. The cross-price elasticity of demand is ________, and the goods are ________.
Answer:
The answer is -1.5 and complementary goods
Explanation:
Cross price elasticity is the percentage decrease in quantity demanded divided percentage increase in price.
= -6/4
= - 1.5.
Because the sign is negative, the goods are complements. Complementary goods are directly related. As in they move in the same direction.
For example, car and fuel are complements. The increase in quantity demanded for car will increase the quantity demanded for fuel. Or if the price of car goes up, all things being equal, the quantity demanded of car will reduce and for fuel too.
Depreciation--Jerry Company purchased machinery for $315,000 on May 1,2020 . It is estimated that it will have an useful life of 5 years, and a salvage value of $15,000. the machine is expected to last 100,000 hours. The machine was used for 25,000 hours the first year. What is the depreciation for the first year assuming working hours method (activity method) is expected to be used
Answer:
The depreciation for the first year is $75,000
Explanation:
In working hours method the depreciation on a fixed asset is charged using the ratio of numbers of hours utilized by the asset in a period and lifetime working capacity in hours.
First, we need to calculate the Depreciable value
Depreciable value = Cost of Asset - Salvage value = $315,000 - $15,000 = $300,000
Depreciation = Depreciable value x Numbers of hours worked / Total working capacity of Asset = $300,000 x 25,000 / 100,000 = $75,000
______ occurs when an employee or an applicant is treated unfairly at work or in the job hiring process due to an identity group, condition, or personal characteristic.
Answer:
Workplace discrimination.
Explanation:
Workplace discrimination is an extremely negative situation that occurs due to certain characteristics of an individual. It may occur because the individual belongs to different ethnic groups, depending on nationality, color, religion, etc.
This situation is harmful to the organization as a whole, the discriminated individual is the one who suffers the most for having their equality rights violated and for feeling coerced and disrespected in a work environment that should be supported by criteria of equality, ethics and collaboration .
It is necessary for companies to be aware of possible loopholes in their policies that may corroborate with such illegal acts, revising them whenever necessary and strengthening the values of respect for personal individualities and equality among employees.
g 2018: US Bond A is issued at par with annual coupon of 2% and maturity of 5 years with face value of $1,000. 2019: Interest rates increase in the market 2020: US Bond B is issued at par today with annual coupon of 5% and a maturity of 3 years with face value of $1,000.What should the price of Bond A be today, 2020, with 3 years left to maturity, so that its yield to maturity is equal to the yield to maturity on Bond B
Answer:
$918.48
Explanation:
price of bond A after the interest rate increased to 5% and the time to maturity is 3 years:
PV of face value = $1,000 / (1 + 5%)³ = $863.84
PV of coupon payments = $20 x 2.7232 (PV annuity factor, 5%, 3 periods) = $54.46
Market value of bond A = $863.84 + $54.46 = $918.48
Since the market rate is higher than the coupon rate, the bond will sell at a discount.
A new sports car sells for $40,000. The value of the car decreases by 12% annually. After how many years will it be worth half of its selling price
Answer:
n= 6.11 years
Explanation:
Giving the following information:
Present value= $40,000
Future value= $20,000
Decrease rate= 0.12
To calculate the number of years for the car to reach a value of $20,000; we need to use the following formula:
n= ln(FV/PV) / ln(1+i)
n= ln(20,000/40,000) / ln(1.12)
n= 6.11 years
The efficient market hypothesis has several forms. The weak form states that past price data is unrelated to future prices. prices reflect all public information. all information both public and private is immediately reflected in stock prices. none of these options are true.
Answer:
past price data is unrelated to future prices.
Explanation:
The efficient market hypothesis (EMH) is a theory of investment in which it proves that it is unattainable to strike the stock market.
Here there are 3 forms that is a weak one, semi-strong one and strong one
In the weak form it implies that there is an efficient market that represent the market information also the market rate of return is independent but the the rates that are in past have no impact on the future rates
therefore the first option is correct
In the Month of March, Digby received orders of 182 units at a price of $15.00 for their product Deal, and in April receives an order for 46 units of their product Deal at $15.00. Digby uses the accrual method of accounting and offers 30 day credit terms. Digby delivers 0 units in March, 182 units in April and 46 units in May. They received payment for 182 units in April, and payment for 46 units in May. How much revenue is recognized on the March income statement from this order
Answer: 0
Explanation:
Accrual accounting method simply means when revenue or expenses are written down and recorded at the time that the transaction took place and not when payment was gotten.
The revenue that is recognized on the March income statement will be 0. This is because the delivery was in April and none took place in March.
Roy agrees to work as a financial advisor on a commission basis for Secure Investments, Inc., and signs an employment contract that includes an arbitration clause. A dispute arises over the amount of Roy's commission. Roy files a suit against Secure Investments, seeking $25,000 in unpaid commissions and $50,000 in other damages. Secure Investments insists that the parties submit the dispute to arbitration. On what Roy believes is insufficient evidence, the arbitrator awards Roy only $500 and issues a written opinion that includes an erroneous finding of fact and a mistaken conclusion of law. Can Roy successfully challenge this award in court
Answer:
Yes. Roy can successfully challenge this arbitration award in court.
Explanation:
According to the law, an arbitration clause is a part of the contract between Roy and Secure Investments, Inc. that deals with these parties' rights and options in the event of a legal dispute over their contract. Like in most arbitration clauses, Roy and Secure Investments, Inc. must have agreed not to sue each other but instead, to resolve their disputes through the arbitration process. But the res judicata effect produced through an arbitration can either be challenged and appealed against or enforced. Roy, depending on the merits of his case, can make a successful appeal against the arbitration award and not against the arbitration itself.
On June 1, 2021, Emmet Property Management entered into a 2-year contract to oversee leasing and maintenance for an apartment building. The contract starts on July 1, 2021. Under the terms of the contract, Emmet will be paid a fixed fee of $54,000 per year and will receive an additional 10% of the fixed fee at the end of each year provided that building occupancy exceeds 80%. Emmet estimates a 20% chance it will exceed the occupancy threshold, and concludes the revenue recognition over time is appropriate for this contract. Assume Emmet estimates variable consideration as the most likely amount. How much revenue should Emmet recognize on this contract in 2021? Multiple Choice $27,540 $54,000 $30,750 $27,000
Answer:
$27,540
Explanation:
Expected amount = Possible amount into probability
Expected amount = ($54,000*80%) + ($54,000+10%)*20%
Expected amount = $43,200 + ($54,000+$5,400)*20%
Expected amount = $43,200 + $59,400*20%
Expected amount = $43,200 + $11,880
Expected amount = $55,080
Revenue to be recognized on this contract in 2021 = $55,080 * 6/12 = $27,540.
If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will Group of answer choices Set price equal to marginal cost in both markets. Set price so as to equate the elasticity of demand across markets. Set a higher price in the market that is more elastic. Set a lower price in the market that is more price elastic.
Answer: Set a lower price in the market that is more price elastic.
Explanation:
It would be in the best interest of the firm with market power to set a lower price if the market is more price elastic.
Price elasticity is the measure of how much quantity demanded changes in response to a change in price.
If the firm with market power sets a lower price in a market that is more price elastic, it can expect that the quantity demanded will increase more which can give a higher profit.
5 poin
What do we call an interest-bearing account at a bank that pays a higher
interest rate than a regular savings account? *
Checking Account
Stocks
Money market
None of the above
PLEASEEE
Answer:
Money market account
Explanation:
Money market deposit account MMDA are high earning saving accounts offered by banks and credit unions. Financial institutions require a minimum amount to open an MMDA account. Customers are also required to maintain a specified balance in their accounts at all times. Withdrawals from money market deposit accounts are restricted.
Money market account pays a higher interest because financial institutions use the deposit from these accounts to invest in short-term money market securities. Examples of Money market securities include commercial papers, certificates of deposits, and treasury bills. They often offer high returns. The interest rates offered on MMDA is influenced by the interest earned on the money market securities.
The following information was taken from the 2021 financial statements of Waterway Industries: Bonds payable, January 1, 2021 $ 809000 Bonds payable, December 31, 2021 4830000 During 2021 • A $725000 payment was made to retire bonds payable with a face amount of $807000. • Bonds payable with a face amount of $319000 were issued in exchange for equipment. In its statement of cash flows for the year ended December 31, 2021, what amount should Waterway report as proceeds from issuance of bonds payable?
Answer:
the amount reported as proceeds from bond issuance is $4,509,000
Explanation:
The computation of the amount reported as proceeds from bond issuance is as follows
Total Bond Issued during 2021
= Bonds payable, December 31, 2021 - Bonds payable, January 1, 2021 + Bond Payable retired
= $4,830,000 - $809,000 + $807,000
= $4,828,000
Now
Bond issued for cash is
= Total bond issued - Bonds issued in exchange for Equipment
= $4,828,000 - $319,000
= $4,509,000
Hence, the amount reported as proceeds from bond issuance is $4,509,000
When an organization defines itself and its niche in an environment by the choice of what sector or field of the environment it will use its technology, products, and services to compete in and serve, it is describing its ______.
Answer:
Domain
Explanation:
It should be noted that When an organization defines itself and its niche in an environment by the choice of what sector or field of the environment it will use its technology, products, and services to compete in and serve, it is describing its Domain. Domain can be regarded as the chosen field of action for an organization/company, it encompass the part of the environment chosen by the organization which is vital to the organization, it involves the chosen niche of the organization in the environment.
discuss briefly what you understanding engineering
Answer:
Engineering is the application of science and math to solve problems. Engineers figure out how things work and find practical uses for scientific discoveries. Scientists and inventors often get the credit for innovations that advance the human condition, but it is engineers who are instrumental in making those innovations available to the world. Engineers design, evaluate, develop, test, modify, install, inspect and maintain a wide variety of products and systems. They also recommend and specify materials and processes, supervise manufacturing and construction, conduct failure analysis, provide consulting services and teach engineering courses in colleges and universities.