Answer:
Their earned income credit for the year is:
b. $5,920.
Explanation:
Rex's earned salary = $26,500
Interest income = 300
Dena's gross income = 0
Total earned income = $26,800
Two children aged seven and five
Since their earned income is less than $47,440 and they have two qualifying children, their earned income credit for 2020 is determined as $5,920 from the table of 2020 Income Limits and Range of Earned Income Tax Credit (EITC).
Following is information from Best Industries for Year 1. Total Year 1 revenue $1,977,040 Projected revenue growth rate, for next five years 3% Terminal revenue growth rate, after year 5 1% Net operating profit margin (NPM) 6.4% Net operating asset turnover (NOAT) 2.35 Projected Year 3 total revenue would be Select one:
Answer: $2,097,442.2
Explanation:
Projected Year 3 total revenue would be calculated thus:
Since the revenue will increase at the rate of 3% for every year and year 3, there'll be 2 years from year 1, this will then be expressed as:
= Total Year 1 revenue × (1 + 3%)²
= $1,977,040 × (1 + 0.03)²
= $1,977,040 × 1.03²
= $1,977,040 × 1.0609
= $2,097,442.2
is the sum of all the values that customers exchange for the benefits of having or using a product or service.
Price. It is the sum of all values that buyers exchange for the benefits of having or using a good or service. can be defined very narrowly as the amount of money charged for a product or a service. However, the price is really more than that.
Price is the sum of all the values that customers exchange for the benefits of having or using a product or service.
What is price?A price serves as the quantity of payment that is been set by one party in return for goods or services.
Therefore, price serces as the the sum of all the values that customers exchange for the benefits of services.
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Retro Rides, Incorporated, operates two divisions: (1) a Management Division that owns and manages classic automobile rentals in Miami, Florida and (2) a Repair Division that restores classic automobiles in Clearwater, Florida. The Repair Division works on classic motorcycles, as well as other classic automobiles. The Repair Division has an estimated variable cost of $60.50 per labor-hour and has a backlog of work for automobile restoration. They charge $80.00 per hour for labor, which is standard for this type of work. The Management Division complained that it could hire its own repair workers for $62.00 per hour, including leasing an adequate work area. What is the minimum transfer price per hour that the Repair Division should obtain for its services, assuming it is operating at capacity?
A) $28.50.
B) $30.00.
C) $39.00.
D) $48.00.
Answer:
D) $48
Explanation:
The minimum transfer price for the Repair division will be the variable cost which is standard for the same type of work. In the given scenario the price is $80 which is the maximum transfer price while $48 will be the minimum transfer price for Repair division.
The 6.5 percent preferred stock of Spotted Cow Brewery is selling for $42 a share. What is the firm's cost of preferred stock if the tax rate is 35 percent and the par value per share is $100
Answer:
the cost of the preferred stock of the firm is 0.1548 or 15.48%
Explanation:
The computation of the cost of the preferred stock of the firm is shown below:
But before that the preference dividend is
= $100 × 6.5%
= $6.50
Now the cost of the preferred stock is
= Dividend ÷ current price of the preferred stock
= $6.50 ÷ $42
= 0.1548 OR 15.48%
hence, the cost of the preferred stock of the firm is 0.1548 or 15.48%
A company’s flexible budget for last month shows that actual indirect materials cost, an overhead variable cost, was $31,178, and that the rate variance for indirect materials cost was $2,261 unfavorable. The company uses machine hours as its cost-allocation base for allocating manufacturing overhead. During that month, the company worked 11,900 machine-hours. Budgeted activity for the month had been 12,200 machine-hours. What must have been the standard rate per machine-hour for indirect materials?
Answer:
The right answer is "$2.43".
Explanation:
The given values are:
Overhead material cost,
= $31,178
Rate variance (unfavorable),
= $2,261
Company worked,
= 11,900 hours
Budgeted activity,
= 12,200 hours
Now,
The budgeted material cost will be:
= [tex]Overhead \ material \ cost-Rate \ variance[/tex]
= [tex]31178-2261[/tex]
= [tex]28917[/tex] ($)
hence,
For indirect materials, the rate per machine hour will be:
= [tex]\frac{Budgeted \ materials \ cost}{Company \ worked \ hours}[/tex]
= [tex]\frac{28917}{11900}[/tex]
= [tex]2.43[/tex]
You are cautiously bullish on the common stock of the Wildwood Corporation over the next several months. The current price of the stock is $64 per share. You want to establish a bullish money spread to help limit the cost of your option position. You find the following option quotes:
Wildwoood Corp Underlying Stock price: $64.00
Expiration Strike Call Put
June 59.00 9.90 3.40
June 64.00 5.20 4.40
June 69.00 2.70 8.90
Suppose you establish a bullish spread with the puts. In June the stock's price turns out to be $58. Ignoring commissions, the net profit on your position is__________.a. $100.b. $185.c. $628.d. $528.
Answer:
a. $100.
Explanation:
The wildwood Corp will consider the spot price to find the difference in call and put. The maximum price for profit is either 0 or $58 - $64
Profit = [ $58 - $64 - $69 - $64 ] * 100
McPhail Corporation $100 face value fixed-rate perpetual preferred stock pays an annual dividend of $5.75 per share. What is the value of one share of this stock to an investor who requires a rate of return of 6.25%
Answer:
$92
Explanation:
Value per share of preferred stock = Annual dividend / Required rate of return
Annual dividend = $5.75 per share
Required rate of return = 6.25%
Value of one share of this stock = $5.75/6.25%
Value of one share of this stock = $5.75/0.0625
Value of one share of this stock = $92
A company purchased an asset for $3,600,000 that will be used in a 3-year project. The asset is in the 3-year MACRS class. The depreciation percentage each year is 33.33 percent, 44.45 percent, and 14.81 percent, respectively. What is the book value of the equipment at the end of the project
Answer:
$266,760
Explanation:
According to the problem, calculation of the given data are as follows,
Purchase value = $3,600,000
Depreciation for 1st year = 33.33%
Depreciation for 2nd year = 44.85%
Depreciation for 3rd year = 14.81%
So, Book value = Purchase value × ( 1 - depreciation of all years)
By putting the value we get,
Book Value = $3,600,000 × ( 1 - 33.33% - 44.45% - 14.81% )
= $266,760
If the money supply is $60 billion, the velocity of money is 7, and real GDP is $336 billion, then the price level equals:
Answer:
$1.25
Explanation:
According to the quantity theory of money
money supply x velocity = real gdp x price
7 x 60 = 336 x p
p -1.25
velocity measures how fast money changes hand in the economy
real GDP is gdp adjusted for inflation
The key metric of the additional value generated by the productive capacity in a country during that period is the gross domestic product (GDP). As a reason, it also accounts for the revenue generated by that production, as well as the overall amount spent on final goods and services.
The correct answer for the price level is equal to $1.25
The quantity theory of money is a way to analyze price fluctuations in relation to a country's money supply. It claims that increasing the money supply hurts the economy and vice versa. The Irving Fisher model is a popular way to put the theory to the test.
According to the quantity theory of money,
[tex]\text{money supply} \times \text{velocity} = \text{real GDP} \times \text{price}[/tex]
[tex]7 \times 60 = 336 \times p[/tex]
price level = $1.25
Therefore, the price level at the given situation or the circumstances is $1.25
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Assume that if you advertise and your rival advertises, you each will earn $4 million in profits. If neither of you advertises, you will each earn $10 million in profits. However, if one of you advertises and the other does not, the firm that advertises will earn $1 million and the non-advertising firm will earn $5 million. If you and your rival plan to be in business for 10 years, then the Nash equilibrium is:
Answer:
The Nash Equilibrium is for both firms not to advertise
Explanation:
the payoff matrix should be something like this:
Firm B
to advertise not to advertise
to advertise $4 / $4 $1 / $5
Firm A
not to advertise $5 / $1 $10 / $10
Both firms' dominant strategy is not to advertise.
Estimated manufacturing overhead for the year $30,000 Estimated direct labor hours for the year 2,000 Two jobs were worked on during the year: Job A-101 and Job A-102. The number of direct labor-hours spent on Job A-101 and Job A-102 were 1,200 and 1,000, respectively. The actual manufacturing overhead was $37,000. What is the predetermined manufacturing overhead rate per direct labor hour for the year
Answer:
$15.00 per direct labor hour
Explanation:
predetermined manufacturing overhead rate = Budgeted overheads ÷ Budgeted Activity
= $30,000 ÷ 2,000 hours
= $15.00
thus,
The predetermined manufacturing overhead rate per direct labor hour for the year is $15.00 per direct labor hour
Initiate, Inc. a 501 organization, receives the following revenues and incurs the following expenses. Grant from Gates Foundation 70,000 Charitable contributions received 625,000 Expenses in carrying out its exempt mission 500,000 Net income before taxes of landscaping inc. 400,000 a wholly owned for profit subsidiary Landscaping Inc. remits all of its after tax profits each year to Initiate. Calculate the amount of the Federal income tax, if any, for Initiate for Landscaping.
Answer:
136,000
Explanation:
Calculation to the amount of the Federal income tax, if any, for Initiate for Landscaping.
Based on the information given the amount of $400,000 will be subjected to the corporate income tax rates totaling the amount of $136,000 which is calculated as ($400,000 x 34%).
Therefore the amount of the Federal income tax, if any, for Initiate for Landscaping will be $136,000
Lynne is responsible for training in a South Brunswick School District. Her job requirements are not associated with any particular management specialty. Lynne is working in what functional area? A) Operations B) Finance C) Production D) Marketing E) Administration
Answer:
E) Administration
Explanation:
An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.
Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).
Hence, while an employer may be the owner of a business firm or company, an employee is a subordinate employed to provide unwavering services to the employer while also, being professional and diligent at all times.
In this scenario, Lynne is saddled with the responsibility of training in a South Brunswick School District.
However, herr job requirements are not associated with any particular management specialty. Thus, Lynne is working in administration.
Administration is typically associated with the smooth tasks of a running a business
Hamix Co. is evaluating a new 4-year project. The equipment necessary for the project will cost $3,550,000 and can be sold for $720,000 at the end of the project. The asset is in the 5-year MACRS class. The depreciation percentage each year is 20.00 percent, 32.00 percent, 19.20 percent, 11.52 percent, and 11.52 percent, respectively. The company's tax rate is 35 percent. What is the aftertax salvage value of the equipment?
Answer:
3845y6374556439
Explanation:
On March 1, year 1, a suit was filed against Dean Company for patent infringement. Dean's legal counsel believes an unfavorable outcome is probable, and estimates that Dean will have to pay between $500,000 and $900,000 in damages. However, Dean's legal counsel is of the opinion that $600,000 is a better estimate than any other amount in the range. The situation was unchanged when the December 31, year 1 financial statements were released on February 24, year 2. How much of a liability should Dean report on its balance sheet at December 31, year 1 in connection with this suit
Answer:
$600,000
Explanation:
Based on the information given in a situation where the amount of $600,000 was a better estimate than any other amount given in the range by the legal counsel ( Dean) which means that the amount of LIABILITY that Dean should report on its balance sheet at December 31, year 1 in connection with this suit will be the estimated amount of $600,000.
What is the decrease in the overall value of an asset called?
A.
depreciation
B.
deceleration
C.
amortization
D.
disinvestment
Your firm has net income of $357 on total sales of $1,380. Costs are $760 and depreciation is $110. The tax rate is 30 percent. The firm does not have interest expenses. What is the operating cash flow
Answer:
See below
Explanation:
The operating cash flow is computed as seen below
Cost
Helen, age 17, wanted to buy a motorcycle. She did not have the money to pay cash but persuaded the dealer to sell a cycle to her on credit. The dealer did so partly because Helen said that she was 22 and showed the dealer an identification card that falsely stated her age as 22. Helen drove the motorcycle away. A few days later, she damaged it and then returned it to the dealer and stated that she voided the contract because she was a minor. The dealer said that she could not do so because (a) she had misrepresented her age and (b) the motorcycle was damaged. Can she void the contract
Answer:
Yes
Explanation:
Yes, based on the information given SHE CAN VOID THE CONTRACT due to FALSELY MISREPRESENTATION of her age from her real age of 17 to the false age of 22 to the dealer of the motorcycle which therefore means that she have to pay for the motorcycle damages cause by her reason been that only the person who initiated the contract CAN VOID THE CONTRACT due to the fact that its fraudulent.
Beyer Company is considering the purchase of an asset for $185,000. It is expected to produce the following net cash flows. The cash flows occur evenly within each year. Assume that Beyer requires a 12% return on its investments. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) Year 1 Year 2 Year 3 Year 4 Year 5 Total Net cash flows $ 87,000 $ 46,000 $ 72,000 $ 132,000 $ 41,000 $ 378,000 a. Compute the net present value of this investment. b. Should Beyer accept the investment
Answer:
a. $87,750.56
b. Accept the investment, because it gives a positive net present value.
Explanation:
the net present value is the today`s value of future cash flows. We determine the net present value by discounting the future cash flow using the required return or the cost of capital.
Using a Financial calculator this can be determined as :
- $185,000 CF0
$ 87,000 CF 1
$ 46,000 CF 2
$ 72,000 CF 3
$ 132,000 CF 4
$ 41,000 CF 5
i/yr = 12%
Then, SHIFT NPV gives $87,750.56
We accept an investment only and only if it has a positive net present value.
Bronks Co. had pension plan assets and PBO of $160,000 on 1/1/19. Service cost for the year was $40,000. It contributed $30,000 during the year and paid benefits of $20,000. The interest rate was 10%. The actual return was $15,000. Compute pension expense, PBO and PA at the end of the year.
Answer:
Pension expense:
= Service cost + Interest on PBO - actual return
= 40,000 + (10% * 160,000) - 15,000
= $41,000
PBO at end of year:
= Beginning PBO+ Service cost + Interest on PBO - Benefits paid
= 160,000 + 40,000 + (10% * 160,000) - 20,000
= $196,000
Pension Assets at end of year:
= Beginning PBO + Return + Contribution - Benefits
= 160,000 + 15,000 + 30,000 - 20,000
= $185,000
What are the implications of CIC’s approach to staffing project teams? Is the company using project teams as training grounds for talented fast-trackers, or as dumping grounds for poor performers?
Answer:
CIC's methodology to projects team employment is based on functional structure. It gathers team individuals from several departments. They grant team players very little influence. They are not permitted to review the effectiveness of task team participants however, operational heads are permitted to do so.
Training under this approach is a very positive thing and should be welcomed by the individuals. It gives the the candidates to enhance their skill and become appropriate for the job environment.
Apple’s Steve Jobs and Tim Cook have different leadership styles. Steve Jobs’ leadership is characterized as ___________ , whereas Tim Cook uses the ___________ style of leadership.
Answer: autocratic; democratic.
Explanation:
Steve Jobs has an autocratic leadership style. This is a type of leader whom dictates policies, controls all activities and decides on the goals that are to be achieved. Such leader has the full control of the team and doesn't consider the input from the subordinates.
On the other hand, Tim Cook uses a democratic leadership style. This is when the leader allows the subordinates participates and values their input. There's brainstorming which helps innovation and us required for decision making.
Which economic goal is encroached upon when the government taxes your wages in order to provide unemployment
benefits to help those out of work?
A. economic equity
B. economic stability
C. economic freedom
D. economic efficiency
Which of the following is untrue regarding professional corporations? A. State statutes permitting professional corporations all apply only to specified professions. B. All states have statutes which permit the practice of professions by duly licensed individuals in the corporate form. C. There is a supplement to the MBCA which deals with professional corporations. D. Professionals may avoid personal liability for corporate debts by incorporating.
Answer:
The following is untrue regarding professional corporations:
D. Professionals may avoid personal liability for corporate debts by incorporating.
Explanation:
The key difference between a professional corporation and other forms of business is that the professional will still be liable for personal liability that accrues out of his practice. The other professionals involved in the business may not be affected as a result of the misconduct of their partners. A professional corporation is usually the corporation of choice for lawyers, physicians, accountants, engineers, and other licensed professionals.
Example of job analysis template with answers
The Forest Organization successfully manages its prices by creating a pricing infrastructure within the company. Forest managers feel that creating the right pricing strategy is important. The Forest Organization does all of the following EXCEPT _______. a. search for ways to create greater customer value b. define pricing goals c. assign authority and responsibility for pricing decisions d. use traditional tools and systems to maintain current pricing decisions
Answer:
The correct answer is the option D: Use traditional tools and systems to maintain current pricing decisions.
Explanation:
To begin with, in the field of marketing and business the pricing strategy is a very important part of the four "Ps" that involves the marketing campaign that the company has to have in order to launch a product that will impact the market as good as possible. So that is whay that the organization has to have expertis in this area in order to achieve a price that can reflect not just the value of the product but also the purchasing power of the target audience that the company wants to reach. Therefore that the Forest Organization will search for ways to create greater customer value, define pricing goals and assign authority and responsibility for pricing decisions in order to achieve a right pricing strategy.
Impact of globalization on HR
California Covertibles has sales of $11,655,000, an ROE of 17.64%, and a total asset turnover of 2.89 times. What is the company’s net income if the firm has a debt-to-equity ratio of 1.43?
Answer: $292,754.76
Explanation:
The company's net income will be calculated thus:
First, we need to know the asset invested which will be:
Asset turnover = Net sales / Asset invested
2.89 = 11,655,000 / Asset
Asset invested = 11,655,000 /2.89
Asset invested = $4,032,871.97
Then, the weight of equity will be:
= 1 / (1+1.43)
= 1 /2.43
= 0.41152
Then, the equity will be:
= $4,032,871.97 × 0.41152
= $1,659,607.47
ROE = Net income / Equity
17.64% = Net income/Equity
0.1764 = Net Income / 1,659,607.47
Therefore, Net income will be:
= $1,659,607.47 × 0.1764
= $292,754.76
. True / False. The hedonic property value method can be used to estimate lost non-use value associated with oil pollution at remote, uninhabited locations. Explain. (3 points)
Answer:
False.
Explanation:
The hedonic property value method determines the extent that environmental or ecosystem factors affect the price of a home. This implies that the method cannot be used to estimate lost, non-use value associated with oil pollution at remote, uninhabited locations, as stated in the question. Since the hedonic property value method is used to estimate the housing prices that reflect the value of local environmental attributes, it is not useful for uninhabited, remote locations and properties.
A $1,000 face value coupon bond will pay 5 percent interest annually for 12 years. What is the percentage change in the price of this bond if the market yield rises to 6 percent from the current level of 5.5 percent
Answer:
-4.26%
Explanation:
The computation of the percentage change in the price of the bond is shown below:
When the rate of interest is 6%, so the present value is
Given that
FV = $1,000
PMT = $50
NPER = 12
RATE = 6%
The formula is shown below;
=-PV(RATE,NPER,PMT,FV,TYPE)
After applying the above formula, the present value is $916.16
Now When the rate of interest is 5.5%, so the present value is
Given that
FV = $1,000
PMT = $60
NPER = 12
RATE = 5.5%
The formula is shown below;
=-PV(RATE,NPER,PMT,FV,TYPE)
After applying the above formula, the present value is $956.61
So, the percentage change in the price is
= ($916.16 - $956.61) ÷ $956.61
= -4.26%