The demand for toys produced by the Miki Manufacturing Company has been collected in the Microsoft Excel Online file below. Use the Microsoft Excel Online file below to develop simple linear regression forecast and answer the following questions.
Simple Linear Regression Forecast
Period Actual Demand Forecast Formulas
1 1,600 #N/A
2 2,000 #N/A
3 1,800 #N/A
4 1,200 #N/A
5 2,300 #N/A
6 3,600 #N/A
7 3,300 #N/A
8 3,200 #N/A
9 4,000 #N/A
10 4,900 #N/A
11 4,500 #N/A
12 4,400 #N/A
13 #N/A
Intercept #N/A
Slope #N/A
1. What is the trend line? Round your answers to two decimal places. Do not round intermediate calculations.
2. Calculate the linear trend forecast for the periods from 1 to 13. Round your answers to the nearest whole number. Use unrounded intercept and slope values.
Period Forecast
1
2
3
4
5
6
7
8
9
10
11
12
13
Answers
Answer:
attached below is the required solution
Explanation:
1) Determine the trend line
The trendline ( Y ) = 319.58x + 989.39 ( attached below is a graph showing the trendline )
2) attached below is the table showing the calculation of Linear trend forecast
Related Questions
What do price controls give us?
Answers
Answer:
Price controls are government-mandated minimum or maximum prices set for specific goods and are typically put in place to manage the affordability of the goods. ... Over the long term, price controls can lead to problems such as shortages, rationing, inferior product quality, and black markets.
Explanation:
hope you get it right! ✋
One of the problems unions are experiencing today is the reluctance of autoworkers in southeastern United States to join unions. In a few instances, when the Auto Workers Union (AUW) gathered enough employee signatures to call for a union certification election, the employees have voted against unionization. Who conducted this election?
A. union members from other automobile plants
B. a committee made up of union and employer representatives as well as federal election inspectors
c. union officials whose sole responsibility is to conduct elections
D. the National Labor Relations Board
E. the auto manufacturer
Answers
Answer:
D. the National Labor Relations Board
Explanation:
The National Labor Relations Board would be empowered by the national labor relations act who has the responsibility for holding the elections in which the labor would decide whether they want to join the union or as represented by one
Now for approaching to the board for an election purpose there is a requirement to represent the enough proof from the workers so here AUW have to gather the sufficient signature of the employee
A company manufactures and sells three products. The products are all manufactured at the same facility. The controller of the company has decided to accumulate all budgeted overhead costs for the manufacturing facility into a single cost pool. The cost pool is then allocated to the three products based on the direct labor hours used by each product. What type of overhead rate has the controller most likely used in this allocation methodology?
Answers
Answer:
Plant-wide rate.
Explanation:
A plant-wide rate can be defined as a single overhead rate used by business firms or companies to allocate the manufacturing overhead costs to the level of output or productivity.
In this scenario, company manufactures and sells three products. The products are all manufactured at the same facility. The controller of the company has decided to accumulate all budgeted overhead costs for the manufacturing facility into a single cost pool. The cost pool is then allocated to the three products based on the direct labor hours used by each product.
Hence, the type of overhead rate the controller most likely used in this allocation methodology is the plant-wide rate.
Berkshire Inc. uses a periodic inventory system. At the end of 2017, it missed counting some inventory items, resulting in an inventory understatement by $610,000. Assume that Berkshire has a 30% income tax rate and that this was the only error it made. If undetected, what is the effect of this error on Berkshire's December 31,2017 balance sheet
Answers
Answer:
Since the inventory was understated, that means that the cost of goods sold was overstated. Since the COGS was higher, gross profits and operating income were lower. This results in lower than income taxes, and lower net income.
Lower net income results in understated retained earnings (by $427,000), also taxes payable, a liability, will also be understated by $183,000. On the other side of the balance sheet, assets ill be understated by $610,000.
Explanation:
From the following list, identify those that are likely to serve as source documents. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)
Sales ticket
Trial balance
Balance sheet
Telephone bill
Invoice from supplier
Company revenue account
Income statement
Bank statement
Prepaid insurance
Answers
Answer:
The Source Documents include:
Sales ticket
Telephone bill
Invoice from supplier
Bank statement
Explanation:
Source documents are the original documents through which business transactions are initiated. They include receipts, bills, invoices, statements, checks, etc. They usually document or initiate a transaction. Any time a business spends or receives money or enters into a contract with another party, a source document is created. Source documents form an integral part of the accounting and bookkeeping process, and auditors need them to trace records to the underlying transactions.
Merchandise inventory includes:__________
a. costs to purchase
b. costs to sell
c. shipping costs
d. costs to prepare for sale
e. cost of goods sold
Answers
Answer:
a. costs to purchase
c. shipping costs
d. costs to prepare for sale
Explanation:
Merchandise inventory is a commodity offered for sale. It is the cost of goods that is readily available at hand which is ready for sale From the options; the Merchandise inventory includes: costs to purchase, shipping costs and costs to prepare for sale.
The remaining options are addressed in the income statement.
Hardigree Corporation uses a job-order costing system. Beginning balance in Work in Process $ 36,000 (1) Raw materials purchased on account $207,000 (2) Direct materials requisitioned for use in production $161,000 (3) Indirect materials requisitioned for use in production $ 42,000 (4) Direct labor wages incurred $ 87,000 (5) Indirect labor wages incurred $101,000 (6) Depreciation recorded on factory equipment $ 42,000 (7) Additional manufacturing overhead costs incurred $ 57,000 (8) Manufacturing overhead costs applied to jobs $219,000 (9) Cost of jobs completed and transferred from Work in Process to Finished Goods $403,000 The total amount of manufacturing overhead actually incurred was: Multiple Choice
Answers
Answer:
$242,000
Explanation:
Calculation of the total amount of manufacturing overhead actually incurred:
Particulars Amount
Indirect Materials $42,000
Indirect labor $101,000
Depreciation On factory equipment $42,000
Additional Manufacturing Overhead $57,000
Total Manufacturing Overhead incurred $242,000
Consolidation among fuel providers serving airport facilities is viewed in the five forces model of competition as a(n): a. reduction of the airlines' ability to benefit from economies of scale. b. increase in switching costs because the airlines have no choice but to use jet fuel and other oil products. c. increase in the bargaining power of suppliers of a critical input. d. increase in the intensity of rivalry among airlines for scarce resources.
Answers
Answer:
c: increase in the bargaining power of suppliers of a critical input
Explanation:
Five Forces Framework by Porter's can be regarded as a method involving analysis of competition in a business. It's analysis dream through
industrial organization economics determine forces that are responsible for competitive intensity. The forces are;
✓potential new market entrants
✓number and power of a company's competitive rivals
✓ influence of suppliers, customers,on company's profitability.
It should be noted that Consolidation among fuel providers serving airport facilities is viewed in the five forces model of competition as a increase in the bargaining power of suppliers of a critical input.
Miller Corporation has a premium bond making semiannual payments. The bond has a coupon rate of 8 percent, a YTM of 6 percent, and 18 years to maturity. The Modigliani Company has a discount bond making semiannual payments. This bond has a coupon rate of 6 percent, a YTM of 8 percent, and also has 18 years to maturity. Both bonds have a par value of $1,000.
Required:
a. What is the price of each bond today?
b. If interest rates remain unchanged, what do you expect the price of these bonds to be 1 year from now? In 9 years? In 13 years? In 17 years? In 18 years?
Answers
Answer:
The function/formula for PV is PV(Rate,Nper,PMT,FV) where Rate = YTM, Nper = Period, PMT = Coupon Payment and FV = Face Value of Bonds.
a. Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 18*2 = 36, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,36,40,1000)
Bond Price = $1,218.32
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 18*2 = 36, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,36,30,1000)
Bond Price = $810.92
b. 1 Year from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 18*2 = 34, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,34,40,1000)
Bond Price = $1,211.32
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 17*2 = 34, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,34,30,1000)
Bond Price = $815.89
9 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 9*2 = 18, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,18,40,1000)
Bond Price = $1,137.54
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 9*2 = 18, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,18,30,1000)
Bond Price = $873.41
13 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 5*2 = 10, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,10,40,1000)
Bond Price = $1,085.30
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 5*2 = 10, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,10,30,1000)
Bond Price = $918.89
17 Years from Now
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 1*2 = 2, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,2,40,1000)
Bond Price = $1,019.13
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 1*2 = 2, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,2,30,1000)
Bond Price = $981.14
18 Years
Miller Bond
Here, Rate = 6%/2 = 3%, Nper = 1*2 = 2, PMT = 1,000*8%*1/2 = $40 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(3%,0,40,1000)
Bond Price = $1,000
Modigliani Bond
Here, Rate = 8%/2 = 4%, Nper = 0, PMT = 1,000*6%*1/2 = 30 and FV = $1,000 [we use 2 since the bond is semi-annual]
Bond Price = PV(4%,0,30,1000)
Bond Price = $1,000
Robert Rogers, CPA performed accounting services for a client in December. A bill was mailed to client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the income statement for the year ended December 31?
a. Accounts payable
b. Prepaid expense
c. Unread revenue
d. Service revenue
Answers
Answer:
D) Service Revenue
Explanation:
From the question we are informed about the Robert Rogers, CPA who performed accounting services for a client in December. A bill was mailed to client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the income statement for the year ended December 31 is Service revenue.
Service revenue can be regarded as
the income that is been generated by a company through the service they provide. This amount can be seen on the top of the company's income statement, and there is addition of this amount to the revenue gotten from
product earnings so that total revenue of company can be calculated for a specific period of time.
Mechem Corporation produces and sells a single product. In April, the company sold 1,900 units. Its total sales were $152,000, its total variable expenses were $79,800, and its total fixed expenses were $56,700.
Required:
a. Construct the company's contribution format income statement for April. (Do not round intermediate calculations.)
b. Redo the company's contribution format income statement assuming that the company sells 1,800 units.
Answers
Answer:
1. $15,500
2. $11,700
Explanation:
Given the following information,
the company sold 1,900 units
Total sales were $152,000
Total variable expenses were $79,800
Total fixed expenses were $56,700
The structure for Contribution income margin format is seen below;
Income statement:
Sales
- Total Variable cost
= Contribution margin
- Fixed costs
= Net Operating income
1. Income statement
Sales = $152,000
Less Total variable cost = ($79,800)
Contribution margin = $72,200
Less Total Fixed costs = ($56,700)
Net operating income = $15,500
2. Here, we need to calculate the unitary selling price and the unitary variable cost
Selling price = $152,000 ÷ 1,900 units = $80
Unitary Variable cost = $79,800 ÷ 1,900 units = $42
Therefore,
Sales = 1,800 units × $80
$144,000
Less total variable cost = 1,800 units × $42
$75,600
Contribution margin
$68,400
Less total fixed costs
$56,700
Net operating income
$11,700
A loan of $12,000 is to be repaid within one year with level monthly payments, due at the beginning of each month. The 12 payments equal $1,000 each. A finance charge of $632 is also due with the first payment. Which of the following is closest to the effective annual interest rate on the loan?
a. 12.7%
b. 12.9%
c.13.1%
d. 13.3%
e. 13.5%
Answers
Solution :
It is given : loan amount = $12,000
Time to repay = 12 months
Finance charge = $ 632
AT the interest rate, outflow = inflow
The present value of the loan amounts = loan amount
[tex]$1000+632+[1000 \times (PVAF (r ,11))]=12000$[/tex]
[tex]$1000 \times PVAF(r,11)=12000-1632$[/tex]
[tex]$PVAF(r,11)=\frac{10368}{1000}$[/tex]
[tex]$PVAF(r,11)=10.368$[/tex]
Now using the annuity table we get
PVAF(1%, 11)=10.9676
This is equal to 10.368 (approximately)
∴ [tex]$r=1$[/tex] % per month of compounded monthly
So the annual interest rate is :
[tex]$=[(1+0.01)^{12}]-1$[/tex]
[tex]$r=[(1.01)^{12}]-1$[/tex]
[tex]$r = 12.68$[/tex] %
= 12.70 %
Hence the correct option is (a).
[tex]\text{It is given : loan amount} = $12,000\\\text{Time to repay} = 12 months\text{Finance charge} = $ 632\\\text{At the interest rate, outflow = inflow}\\\text{The present value of the loan amounts = loan amount}[/tex]
[tex]1000 + 632 + [ (P.V (r.11))] = 12,000\\\\1000 \text { x } P.V (r,11) = 12,000 - 1,632\\\\P.V (r.11) = \frac{10,368}{1000}\\\\P.V (r,11) = 10.368[/tex]
[tex]\text{Now using the annuity table we get} \\P.V (0.01, 11) =10.9676\\\text{This is equal to 10.368 (approximately)}[/tex]
[tex]r = 0.01 \text{ per month}\\\text{ Annual Interest rate}:\\r= [(1+0.01}^{12}] - 1\\r= [(1.01}^{12}] - 1\\r= 12.68\\[/tex]
Therefore, the closest option among the following choices is an option (a), i.e., 12.7%
For more information about the annual interest rate, refer below
https://brainly.com/question/16544946
Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.She would be classified as:_________.
Answers
Answer:
structurally unemployed.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
1. Cyclical unemployment rate (CU).
2. Frictional unemployment rate (FU).
3. Structural unemployment rate (SU).
Structural unemployment can be defined as an involuntary unemployment that arises as a result of the incompatibility between a worker's skills set and requisite skills an employer seeks from the workers or due to technological changes.
This ultimately implies that, it describes a situation where an individual isn't able to secure a job as a result of insufficient number of jobs matching their qualifications, thus limiting their opportunities.
In this scenario, Monica Smith was unemployed because the steel company, where she worked, closed and moved overseas to a foreign country. Other steel companies have also closed. Her skills are not transferable to another industry and she is unable to get a job.
Hence, she would be classified as structurally unemployed.
how does coved-19 effect in how mangers make decisions?
Answers
Answer:
1. not all people want to wear a mask when they walk into their store
2. a lot of their workers probaly quit or have corona, this would make it harder to make decisions with not a lot people to work!
Explanation:
An animator needs a laptop for audio/video editing, and notices that he can pay $2600 for a Dell XPS laptop, or lease from the manufacturer for monthly payments of $75 each for four years. The designer can borrow at an interest rate of 14% APR compounded monthly. What is the cost of leasing the laptop over buying it outright
Answers
Answer:
C) Leasing costs $145 more than buying
Explanation:
Calculation for the cost of leasing the laptop over buying it outright
First step is to get find the Present value (PV) using financial calculator
Rate =1.17% ( ⁴ 14% ÷ 12 months)
NPER=48 months ( 4 years × 12 month)
PMT=$75
FV=$0.00
Hence,PV will be :.
PV=$2,744.59
Now let calculate the cost of leasing
Cost of leasing= $2,744.59 - $2,600
Cost of leasing= $144.59
Cost of leasing=$145 Approximately
Therefore the cost of leasing the laptop over buying it outright will be $145
The following table describes the production possibilities of two cities in the country of Baseballia:
Pairs of Red Socks per Worker per Hour Pairs of White Socks per Worker per Hour
Boston 3 6
Chicago 5 4
Without trade, the price of a pair of white socks (in terms of red socks) in Boston is_______ of red socks, and in Chicago it is ___________ of red socks. _________has an absolute advantage in the production of red socks, and _________ has an absolute advantage in the production of white socks. ___________has a comparative advantage in the production of red socks, and______ has a comparative advantage in the production of white socks.
If the cities trade with each other, Boston will export _________socks, and Chicago will export _________socks.
The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is _________of red socks per pair of white socks, and the lowest price that makes both cities better off is ________of red socks per pair of white socks.
Answers
Answer:
All the blanks are filled with explanation below.
Explanation:
Solution:
Let's extract the meaning of data from the data given.
Boston produces 3 red socks per worker per hour and 6 white socks per worker per hour
B = 1 worker = 1 hour = produces 3 pairs Red Socks
B = 1 worker = 1 hour = produces 6 pairs white socks
Boston = whites socks in terms of red socks
6 white socks = 3 red socks
white socks = 3/6 red socks
white socks = 0.5 pairs of red socks.
Chicago = white socks in terms of red socks
4 white socks = 5 red socks
white socks = 5/4 red socks
white socks = 1.25 red socks
C = 1 worker = 1 hour = produces 5 pairs Red socks
C = 1 worker = 1 hour = produces 4 pairs white socks
It means in Boston, we have advantage of producing white socks and in Chicago we have advantage of producing red socks.
Fill in the blanks: (Note: Bold words are blanks filled)
1. The price of pair of white socks (in terms of red socks) in Boston is 0.5 pairs of red socks of red socks, and in Chicago it is 1.25 red socks of red socks.
2.Chicago has an absolute advantage in the production of red socks, and Boston has an absolute advantage in the production of white socks.
3. Chicago has a comparative advantage in the production of red socks, and Boston has a comparative advantage in the production of white socks.
4. If the cities trade with each other, Boston will export white socks, and Chicago will export red socks.
5. The price of white socks can be expressed in terms of red socks. The highest price at which white socks can be traded that would make both cities better off is 1.25 of red socks per pair of white socks, and the lowest price that makes both cities better off is 0.5 of red socks per pair of white socks.
What are three important characteristics for an entrepreneur to have?
(Check all of the boxes that apply)
Popular
Hardworking
Optimistic
Healthy
Witty
Disciplined
Answers
Answer:
HardworkingOptimisticDisciplinedExplanation:
An entrepreneur starts and operates a new business. An entrepreneur develops a business idea in their mind. They then source for all that is required to transform the idea into a successful business.
Entrepreneurs take risks by investing their resources, time, and energy in the business idea. They undertake the investment because they are convinced it will work. It takes hard work and sacrifices for the new business to be successful. An entrepreneur must focus on their business for it to grow.
Answer:
2 3 6
Explanation:
Which description applies to the middle class in American society?
A. They tend to lack a high school education.
B. They tend to live off wealth that their parents accumulated.
C. They tend to live comfortably as long as they have jobs.
D. They tend to live without the means to find shelter.
Answers
Answer:
(C).They tend to live comfortably as long as they have jobs
Answer:
C. "They tend to live comfortably as long as they have jobs."
In 2017, Randa Merchandising, Inc., sold its interest in a chain of wholesale outlets, taking the company completely out of the wholesaling business. The company still operates its retail outlets. Indicate where each of the following income-related items for this company appears on its 2017 income statement.
1. Net sales
2. Gain on state's condemnation of company property, net of tax
3. Cost of goods sold
4. Income taxes expense
5. Depreciation expense
6. Gain on sale of wholesale business segment, net of tax
7. Loss from operating wholesale business segment, net of tax
8. Loss of assets from a meteor strike, net of tax
Required:
Prepare the income statement for the calendar year 2017.
Answers
Answer:
Randa Merchandising, Inc.
1. Indication of where each of the following income-related items for this company appears on its 2017 income statement.
Income Statement
1. Net Sales
2. Cost of goods sold
3. Depreciation expense
4. Income taxes expense
5. Gain on state's condemnation of company property, net of tax
6. Gain on sale of wholesale business segment, net of tax
7. Loss from operating wholesale business segment, net of tax
8. Loss of assets from a meteor strike, net of tax
Explanation:
Randa's income statement is prepared using a step-by-step approach. It starts with the net sales from which the cost of goods sold is deducted to arrive at the gross profit. Thereafter, the operating expenses are deducted to obtain the operating income. Based on this, income taxes are computed before arriving at the operating income after taxes. And then, the extraordinary items are disclosed (net of taxes) before arriving at the net income.
Based on your focus group, you ask your product research team to propose different formulas for turmeric meal replacement shakes. Keeping in mind that all In Fine Fettle's products use ingredients that are of higher quality than the competition's, your food scientists offer you three different formulations. Choose the formula that would be most attractive to the target market.
A. Has the highest turmeric content and anti—inflammatory properties
Made with quality ingredients
Taste rated as 5/10
B. Has the second-highest turmeric content and anti—inflammatory properties
Made with superior quality ingredients
Taste rated as 7/10
C. Has the lowest turmeric content and anti—inflammatory properties
Made with quality ingredients
Taste rated as 9/10
Answers
Answer: B. Has the second-highest turmeric content and anti-inflammatory properties
Made with superior quality ingredients
Taste rated as 7/10
Explanation:
The formula in B would be the most attractive because it is a compromise between the first and the second more 'extreme' formulas.
The first one for instance has the highest turmeric content but is lacking in taste. The third has the lowest content and is sweet. Consumers would most probably go for a compromise and pick the formula with the second highest content and not to bad taste wise whilst still being made of superior ingredients.
Those arguing against being socially responsible might make the claim that costs for social goals are ultimately
higher prices
Answers
A profit-maximizing entrepreneur rents an apple orchard for a day. He is a price taker in both the market for labor and the market for apples. Assume that a bushel of apples sells for $10. Laborers are hired by the day (the variable input) to pick apples (the product). The production function (the relationship between the number of laborers hired and the number of bushels of apples picked) looks like this:
Laborers hired per day Total product(bushels of apples per day)
4 52
5 60
6 66
7 70
8 72
Required:
How many laborers would the entrepreneur employ if the government raised the minimum wage to $75 per day?
a. 4
b. 8
c. 5
d. 7
e. 6
Answers
Answer:
c. 5
Explanation:
L Q MPL (ΔinQ/ΔinL) VMPL
4 52
5 60 8 80
6 66 6 60
7 70 4 40
8 72 2 20
Note: Labour hired per day = L, Total product = Q, Marginal Product of labor=MPL, VMPL =Price*MPL
A firm will maximize the profit by increasing the number of labor as long as VMPL is higher than or equal to the wage rate. In this case, we observe that VMPL ($80)>wage rate ($75) for L=5 but VMPL ($60)<wage rate ($75) for L=6. So, the optimal number of labor to be hired is 5.
Suppose you are deciding whether you should go to college. If you go to college, you will pay $10,000 total in tuition, textbooks, and room and board every year for 4 years, with the first payment being made immediately and then the next three payments 1 year apart. Upon graduating, you expect to get a job earning $50,000 per year for the next 40 years. Assume that your first paycheck arrives exactly 1 year after you start working and you continue getting paid annually thereafter. Also assume that there are no raises in that particular field. If you do not go to college, you can start working immediately. The pay, however, is lower. You would expect to work for 44 years and earn $34,000 per year, with your first paycheck arriving exactly 1 year from now, and you continue getting paid annually thereafter. For the questions below, round all numbers to two decimals.
Part 1 Assume the interest rate is 7%. If you were to attend college, the present value of your tuition payments would total _______ $
Part 2 Suppose you go to college and graduate after 4 years. Because you will work for 40 years after you graduate, and because 40 years is a long time, treating the stream of payments as a perpetuity will provide a reasonable approximation of the present value of the payment stream. The present value of your annual earnings of $50,000 as a college graduate is _______$
Part 3 The net present value of going to college is _____$
Part 4 If you do not go to college, you will be working even longer than before. Once again, you may treat the stream of income from your job as a consol or perpetuity. The present value of your annual earnings of $34,000 if you don't go to college is ________$
Answers
Answer:
Part 1. If you were to attend college, the present value of your tuition payments would total _______
$33,870.00
Part 2. The present value of your annual earnings of $50,000 as a college graduate is _______
$741,407.10
Part 3 The net present value of going to college is _____
$707,537.10
Part 4. The present value of your annual earnings of $34,000 if you don't go to college is ________
$719,270
Explanation:
a) Data and Calculations:
Annual Tuition, etc = $10,000
Number of college years = 4
Interest rate = 7%
Present Value Annuity Factor = 3.387
PV of $10,000 = $10,000 * 3.387 = $33,870
Annual salary after college in 4 years' time = $50,000
Number of years earning salary = 40 years
Present value annuity factor = 19.434 * 0.763 = 14.828142 (reduced to earnings after 4 years)
PV of $50,000 = $50,000 * 14.828142 = $741,407.10
NPV of going to college = $741,407.10 - $33,870 = $707,537.10
Annual salary without college = $34,000
Number of years earning salary without college = 44 years
Present value annuity factor = 21.155
PV of $34,000 in perpetuity = $34,000 * 21.155 = $719,270
The following information is available for Aikman Company.
January 1, 2017 December 31, 2017
Raw materials inventory $21,000 $30,000
Work in process inventory 13,500 17,200
Finished goods inventory 27,000 21,000
Materials purchased $150,000
Direct labor 220,000
Manufacturing overhead 180,000
Sales revenue 910,000
Required:
1. Compute cost of goods manufactured.
2. Prepare an income statement through gross profit.
Answers
Answer:
$537,300
$378,700
Explanation:
1. Cost of goods manufactured
Direct material Jan 1 2017
$21,000
Add purchases of raw materials
$150,000
Less raw materials December 2017
($30,000)
Materials used in production
$141,000
Direct labor
$220,000
Manufacturing overhead
$180,000
Total manufacturing cost
$541,000
Add work in process inventory at Jan
$13,500
Less ending work in process inventory
($17,200)
Cost of goods manufactured
$537,300
2. Income statement through gross profit
Sales revenue
$910,000
Less cost of goods sold:
Cost of goods manufactured
$537,300
Add: finished goods at 1 Jan 2017
$27,000
Less: finished goods at 31 2017
($21,000)
Gross profit
$378,700
Mulkeen Service Company, Inc., was incorporated by Conor Mulkeen and five other managers. The following activities occurred during the year:
a. Received $48,000 cash from the managers; each was issued 1,200 shares of common stock.
b. Purchased equipment for use in the business at a cost of $8,400; one-fourth was paid in cash and the company signed a note for the balance (due in six months).
c. Signed an agreement with a cleaning service to pay it $70 per week for cleaning the corporate offices, beginning next year.
d. Conor Mulkeen borrowed $15,000 for personal use from a local bank, signing a one-year note.
Required:
a. Create T-accounts for the following accounts: Cash, Equipment, Note Payable, and Contributed Capital.
b. Using the balances in the T-accounts, fill in the following amounts for the accounting equation:
Assest $_______ = Liabilities$ _______ + Stockholders Equity $_______
c. Explain your response to events (c) and (d).
Answers
Answer:
a)
cash common stock
48,000 48,000
2,100
45,900
equipment note payable
8,400 6,300
b)
Assets = Liabilities + Equity
$54,300 $6,300 $48,000
c)
there is no transaction in (c) and the corporation is a separate entity and Conor's personal accounts are not part of it.
You need to hire employees as you are finding yourself short. However, your budget allows you to have a specific
number for each department. You are permitted to have 20 servers, 8 bartenders, 8 bussers, 4 servers assistants, and 6 managers. You need
to fill the following slots: you need 7 servers, 3 bartender, 3 bussers, 0 server assistants, and 1 managers. How many of each do you
presently have?
13 servers, 5 bartenders, 5 bussers, 4 server assistants, 0 managers
Ob) 13 servers, 5 bartenders, 5 bussers, 4 server assistants, 5 managers
c) 13 servers, 5 bartenders, 7 bussers, 4 server assistants, 5 managers
d) 18 servers, 7 bartenders, 5 bussers, 1 server assistants, 6 managers
Answers
Answer:
13 servers, 5 bartenders, 5 bussers, 4 server assistants, 5 managers
Explanation:
When you need to fill a certain position at your organization, hiring is the process of looking for and evaluating individuals. On the other hand, recruiting entails ongoing study to locate the ideal workers for your business.
the beginning of hiring someone: The organization has recently had a number of hirings and firings.
The hiring process consists of several steps, including analyzing applications, identifying the best applicants for interviews. Hence option B is correct .
What is Hiring ?Testing candidates, making a decision between candidates, and carrying out other pre-employment exams and checks.
A human resources manager will take the following actions during the hiring process to find the ideal candidate for the position:
Examining job applicationsthe test takersSelected candidates are questionedCandidates should be chosen using predetermined selection criteria. Perform history and reference checksSend selected candidates for a health checkLearn more about hiring here
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Classify the following topics as relating to microeconomics or macroeconomics.
Topic Microeconomics Macroeconomics
The effect of rent control on the housing market.
The effect of an increase in income tax on national income.
A firm's decision on which production method to use.
The effect of externality on the quantity produced by the market.
A student's decision about how to allocate his time between studying two subjects.
Answers
Answer and Explanation:
Microeconomics is the study of the individual regarding the decision related to market demand and supply
While the macroeconomics would deals with the country like gross domestic product, national income etc
Based on this, the classification is as follows:
1. Microeconomics
2. Macroeconomics
3. Microeconomics
4. Microeconomics
5. Microeconomics
An income statement reports the revenues earned minus expenses incurred by a business over a period of time.
True or false ?
Answers
Answer:
True
Explanation:
This is an income statement. Ex: Rent expenses, salaries expense, total revenues, etc.
Your job includes ordering phone service for new employees. You are considering two phone plans. The first plan charges $23.35 per month for one phone line. The second plan charges $14.99 per month for the first three months and then $29.99 per month after that for a phone line. Over the first year, how much will you save on one phone line by choosing the better deal?
Answers
Answer:
$34.68
Explanation:
The total cost by following the first plan will be the charge per months times 12 months
= $23.35 x 12
= $280.2
The total cost from the second plan will be the cost of the first three months at $14.99 plus the cost of 9 months at $29.99
=($14.99 x 3) + ($29.99 x 9)
=$44. 97 +$269.91
=$314.88
The first plan is the better deal. It will save
= $314.88 - $280.2
=$34.68
The Treasury department issued a 10-year bond on January 1, 2015. The par value is $1,000 and the annual coupon rate is 10%. The bond pays two coupons every year, one at the end of June and one at the end of December. The required annual yield is 8%. An investor bought the bond on March 31, 2015. What is the price that he should pay for the bond
Answers
Answer:
$1,135.90
Explanation:
The bond price formula is given below, the formula implies that the price of the bond is the present value of future cash flows which are the semiannual coupons and the face value
Bond price=face value/(1+r)^n+semiannual coupon*(1-(1+r)^-n/r
face value=$1,000
r= semiannual yield to maturity=8%*6/12=4%
n=number of semiannual coupons in 10 years=10*2=20
semiannual coupon=face value*coupon rate*6/12=$1,000*10%*6/12=$50
bond price=$1,000/(1+4%)^20+$50*(1-(1+4%)^-20/4%
bond price=$1000/(1.04)^20+$50*(1-(1.04)^-20/0.04
bond price=$1000/2.191123143 +$50*(1-0.456386946 )/0.04
bond price=$1000/2.191123143 +$50*0.543613054/0.04
bond price= $456.38 +$679.52
= $1,135.90