Answer:
The answer is "711"
Explanation:
Calculated equation:
[tex]R(x) =(120-x)(342+9x)\\\\R(x) =-9x^2+738x+41040[/tex]
For maximum revenue [tex]R'(x)=0[/tex]
[tex]\to R'(x) =-18x+738\\\\\to 18x=738\\\\\to x=\frac{738}{18}\\\\\to x=41\\\\[/tex]
So, maximum revenue:
[tex]\to 342+9\times 41\\\\\to 342+369\\\\\to 711[/tex]
In the aftermath of the BP oil spill in 2010, the Associated Press interviewed an engineering professor at the University of California, Berkeley for his take on what could have led to such a disaster. According to this professor, the BP spill falls into the category of disasters that result when an organization, because of overconfidence and incompetence, simply ignores warning signs. Was this a rational decision
Answer:
BP Oil Spill in 2010
The decision by BP to ignore the warning signs was not a rational decision.
Explanation:
A rational decision-making process employs a structured or logical process to the act of decision-making. Its pillars include logic, objectivity, and analysis. A rational decision-making process does not favor subjectivity and individual insight but relies more on the insight obtained from data analysis. The claim of the professor is a rational one because it is based on objective evidence.
What is the best way to deal with a negative experience with a past employer or job if it comes up during your interview?
The best way to deal with a negative experience with a past employer or job is to answer honestly and briefly as possible without appearing to avoid the question.
What do you mean by Negative experience?A negative experience is an unpleasant, depressing, or harmful situation. Research says that negative experiences can help to boost meaning because they cause comprehension.
Try to use impartial language and end on a positive note if possible. You might include some positive experiences, something that you learned from the experience that will prove valuable for the current position you are seeking.
Provide a brief overview of your former employment, including how long you were working there, your duties, and any transferable skills you gained.
Therefore, Rather than complaining focus on your goals.
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Should I tell my parents I'm adopted?
Answer: Yes
Explanation:
It is important, when telling them about their adoption, to help them understand that they were born first—and that all children, adopted or not, are conceived and born in the same way. The birth came first, then the adoption. Waiting until adolescence to reveal a child's adoption to him or her is not recommended. “Halloween is the beginning of the holiday shopping season. That’s for women. The beginning of the holiday shopping season for men is Christmas Eve.”
—David Letterman
What is Quantitative method
Answer:
Quantitative methods emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques.
Explanation:
Summit Services Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at May 31, the end of the fiscal year, the following balances were taken from the ledger of Summit Services:
Fees Earned $243,000
Dividends 33,000
Rent Expense 50,800
Retained Earnings 540,000
Supplies Expense 12,400
Wages Expense 213,300
Miscellaneous Expense 5,900
Required:
Journalize the closing entries required to close the accounts.
Answer:
May-31
Dr Fees earned $243,000
Retained earnings $33,500
Cr Rent expense $50,800
Cr Supplies expense $12,400
Cr Wages expense $213,300
Cr Miscellaneous expense $ 4,300
May-31
Dr Retained Earnings $33,000
Cr Dividends $33,000
Explanation:
Preparation to Journalize the closing entries required to close the accounts.
May-31
Dr Fees earned $243,000
Retained earnings $33,500
($213,300+$12,400+$50,800-$243,000)
Cr Rent expense $50,800
Cr Supplies expense $12,400
Cr Wages expense $213,300
Cr Miscellaneous expense $ 4,300
(To close the Expenses )
May-31
Dr Retained Earnings $33,000
Cr Dividends $33,000
(To close the dividends )
Bunker Hill Mining Company has two competing proposals: a processing mill and an electric shovel. Both pieces of equipment have an initial investment of $750,000. The net cash flows estimated for the two proposals are as follows:
The estimated residual value of the processing mill at the end of Year 4 is $280,000.
Present Value of $1 at Compound Interest
Year 6% 10% 12% 15% 20%
1 0.943 0.909 0.893 0.870 0.833
2 0.890 0.826 0.797 0.756 0.694
3 0.840 0.751 0.712 0.658 0.579
4 0.792 0.683 0.636 0.572 0.482
5 0.747 0.621 0.567 0.497 0.402
6 0.705 0.564 0.507 0.432 0.335
7 0.665 0.513 0.452 0.376 0.279
8 0.627 0.467 0.404 0.327 0.233
9 0.592 0.424 0.361 0.284 0.194
10 0.558 0.386 0.322 0.247 0.162
Determine which equipment should be favored, comparing the net present values of the two proposals and assuming a minimum rate of return of 15%. Use the present value table appearing above. If required, round to the nearest dollar.
Processing Mill Electric Shovel
Present value of net cash flow total $ $
Less amount to be invested $ $
Net present value $ $
Answer:
the processing mill h as a higher NPV and it would be more preferred
Explanation:
Here are the cash flows
Net Cash Flow
Year Processing mill Electric Shovel
1 310000 330000
2 260000 325000
3 260000 325000
4 260000 320000
5 180000
6 130000
7 120000
8 120000
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable
Processing Mill
Cash flow in year 0 = $-750,000.
Cash flow in year 1 = 310000
Cash flow in year 2 = 260000
Cash flow in year 3 = 260000
Cash flow in year 4 = 260000
Cash flow in year 5 = 180000
Cash flow in year 6 = 130000
Cash flow in year 7 = 120000
Cash flow in year 8 = 120000
I = 10 %
NPV = 265,807.69
Electric shovel
Cash flow in year 0 = $-750,000.
Cash flow in year 1 = 330,000
Cash flow in year 2 = 325,000
Cash flow in year 3 = 325,000
Cash flow in year 4 = 320,000
I = 10%
NPV = 179,357.03
The NPV of the processing mill is higher and would be more preferred
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Which of the following is recorded in a country’s balance of payments accounts?
Answer:
Considering there are no options to pick from, the following accounts are recorded in a country’s balance of payments accounts:
1. the current account
2. the capital account
3. the financial account.
Explanation:
Therefore;
1. The current account is part of the country’s balance of payments accounts to define the inflow and outflow of goods and services into a particular country.
2. The capital account is also a country’s balance of payments account that documents all the international capital transfers of a country.
3. The financial account is part of the country’s balance of payments accounts where the international monetary flows concerning the investment in the business, real estate, bonds, and stocks are fully recordsd.
The Joint Stock Company is:
A) An association of persons
B) An association of funds
C) A mixture of an association of funds and persons
D) None of the above
what is the meaning of life
Answer:
To be totally honest... I cant tell you. All I know so far is that you are born to die
Explanation:
The nations of Pamland and Lillytonia can produce two goods, DVD
players and wheat. In a single year, Pamland can produce 150 DVD players
or 300 bushels of wheat and Lillytonia can produce 200 DVD players or
600 bushels of wheat. Which of the following deals would Pamland and
Lillytonia be willing to accept? *
A) There are no deals for trade that Lillytonia would be willing to accept because
Lillytonia could make more of both goods.
B) Lillytonia sells 1/4 bushels of wheat to Pam and gets 1 DVD player in return.
C) Lillytonia sells 4 bushels of wheat to Pam and gets 1 DVD player in return.
D) Lillytonia sells 2.5 bushels of wheat to Pam and gets 1 DVD player in return.
D) Lillytonia sells 2/5 bushels of wheat to Pam and gets 1 DVD player in return
Answer:
The best deal would be option B) that is
Lillytonia sells 1/4 bushels of wheat to Pam land and gets 1 DVD player in return.
Explanation:
STEP 1
The output of DVD per unit of labor for Pamland = 150.
The output of Bushels of wheat per unit of labor for Pamland= 300.
The output of DVD per unit of labor for Lillytonia = 200.
The output of Bushels of wheat per unit of labor for Lillytonia= 600.
STEP 2
To calculate the comparative advantage, we use the following formula:
Comparative Advantage = DVD Output / Wheat Output
STEP 3
In Pamland, the opportunity cost, or the comparative advantage, of DVD is
300 / 150 = 2 bushels of wheat.
The opportunity cost of wheat in Pamland is 120/ 300 = 0.5 DVDs.
In Lillytonia the opportunity cost, or comparative advantage, of DVD is 600/200 = 3 bushels of wheat, while
The opportunity cost of wheat in Lillytonia is 200/600 = 1/3 or 0.33333 DVDs
STEP 4
As is clear from the calculations, Pamland should produce more wheat because it has the lower opportunity cost during production 2 against 3 for Lillytonia. Conversly, Lillytonia has the lowest opportunity cost for the production of DVD clocking 1/3 against a higher 1/2 for Pamland.
The countries should therefore trade in such a way that Pamlan is selling it's Wheat while Lillytonia is selling it's DVDs.
STEP 5
Given that Pamland's 2 bushels of wheat will cost it 0.5 DVDs, 4 bushels will thus cost it 1 DVD. It is impracticable (in any case) to have 1/2 of a DVD player.
Cheers
7 reasons why businesses should be aware of the political legal environment
Answer:
7 reasons why businesses should be aware of the political legal environment are as follows:
1- Businesses do not cease to be part of a much larger environment, which is the nation as a whole, with which what happens in it will affect business to a greater or lesser extent.
2- Many times, the political interests of certain sectors can favor or harm certain businesses, with which businessmen must be attentive to those interests.
3- Politicians are the ones who give confidence in the country to foreign investors, with which their policies can increase or restrict competition from local investors.
4- The generation of employment that arises from a favorable political and legal environment means that businesses have the necessary workforce to maximize their production.
5- The political and economic stability allows the reinvestment of the profits of the entrepreneurs and their businesses.
6- The existence of productive development plans and other subsidies to productive companies can be used by businesses as a government aid to maximize their production.
7- In short, the stability of the nation will make it easier for businesses to prosper, while political stability usually entails economic stability.
The net book value of an asset represents the:
The amount at which an organization records an asset in its accounting records.
The netbook value of an asset represents the cost of the asset less depreciation.
Asset value reduces as a result of wear and tear. This is due to the usage of the asset and passage of time.
The monetary value of the part of the asset that have been used up over time, is what is regarded as accumulated depreciation, which means reduction in value.
Hence, the netbook value of an asset represents the cost of the asset less depreciation.Learn more about net book value on:
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On January 1, 2020, Jacobs Company sells land financed through an $80,000 note, issued by Andress Company. The note is an $80,000, 8%, annual interest-bearing note. Andress agrees to repay the $80,000 proceeds on December 31, 2021. The prevailing interest rate on similar notes is 11%. Assume that the cost of the land is equal to the fair value of the note.
Required:
Prepare all entries for Jacobs over the note term, including any year-end adjustments. Use the effective interest method to amortize the discount.
Answer:
Entries are shown below.
Explanation:
To record the journal entries, we first need to calculate interest payment and principal as per the present value. This is done below:
PV Factor Present Value
Interest Payment $6,400 1.7125 $10,960
Principal $80,000 0.8116 $64,928
$75,888
Journal Entries
Date Particular Debit ($) Credit ($) Working
Jan 1, 2020 Note Receivable 80,000
Discount on Receivable 4,112
Land 75,888
Dec 31, 2020 Cash 6,400
Discount on Receivable 1,948 (8348-6400)
Interest Revenue 8,348 (75888*11%)
Dec 31, 2021 Cash 6,400
Discount on Receivable 2,162 (4279-3600)
Interest Revenue 8,562
(75888+1,948)*11%
Dec 31, 2021 Cash 80,000
Notes Receivable 80,000
There are assumptions that currently and in the past alcohol and cigarettes advertisements were responsible for a very large percentage of sports bill boards in Namibia. What explanation can you offer for why these products are used to dominate the sports bill boards medium. Discuss with clear examples
Answer:
The advertisements make both drinking and smoking appear like casual and ordinary activities. The adverts function as a superpower by negligibly pressuring sports prayers and fans to consume alcohol and cigarettes. For instance, the adverts have messages to encourage viewers to us beer and switch to become champions like a winning football club.
Explanation:
Which of the following is the most profitable investment for a candy shop that earns $1 profit per pound of candy? (5 points) Group of answer choices:
Worker at $10 per hour, producing eight pounds of candy per hour
Worker at $12 per hour, producing 16 pounds of candy per hour
Machine with $5 per hour operating cost, producing 10 pounds of candy per hour Machine with $8 per hour operating cost, producing 14 pounds of candy per hour
Worker at $12 per hour, producing 16 pounds of candy per hour
Answer:
Worker at $12 per hour, producing 16 pounds of candy per hour
Explanation:
Brenda, a self-employed taxpayer, travels from Chicago to Barcelona (Spain) on business. She is gone 10 days (including 2 days of travel) during which time she spends 5 days conducting business and 3 days sightseeing. Her expenses are $1,500 (airfare), $200 per day (meals), and $400 per night (lodging). Because Brenda stayed with relatives while sightseeing, she only paid for 5 nights of lodging. What is Brenda's deduction for: If required, round your answers to the nearest dollar.
Answer:
Airfare $1,050
Meals $700
Lodging $2,000
Explanation:
Calculation to determine Brenda's deduction
a. Calculation to determine Brenda's deduction for Airfare
Airfare=(70% × $1,500)
Airfare=$1,050
Therefore Brenda's deduction for Airfare is $1,050
b.Calculation to determine Brenda's deduction for Meals
Meals=[(200/2)*7]
Meals=$700
Therefore Brenda's deduction for Meals is $700
c.Calculation to determine Brenda's deduction
for Lodging
Lodging= [400*5]
Lodging=$2,000
Therefore Brenda's deduction
for Lodging is $2,000
You own a portfolio that has $1,600 invested in Stock A and $2,700 invested in Stock B. Assume the expected returns on these stocks are 11 percent and 17 percent, respectively. What is the expected return on the portfolio
Answer:
the expected return on the portfolio is 14.77%
Explanation:
The computation of the expected return on the portfolio is shown below:
The expected return is
= ($1,600 ÷ $4,300) × 11% + ($2,700 ÷ $4,300) × 17%
= 14.767 %
= 14.77%
The $4,300 comes from
= $1,600 + $2,700
= $4,300
hence, the expected return on the portfolio is 14.77%
The same is considered
Marketers segment markets to achieve which of the following objectives?
a. To create an offer that best fits the desires of the groups that exist in the market
b. To identify the most appropriate media for advertising,
C. To better understand their target segments.
→Marketers segment markets to achieve which of the following objectives?
Choices:a. To create an offer that best fits the desires of the groups that exist in the market.
b. To identify the most appropriate media for advertising,
C. To better understand their target segments.
Answer:a. To create an offer that best fits the desires of the groups that exist in the market.Explanation:→marketing efficiency by directing effort specifically toward the designated segment in a manner consistent with that segment's characteristics.
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What does "opting out" enable people to do?
A. It allows them to sue companies who use deceptive advertising
techniques.
B. It allows them to let companies know that they do not want them
to share certain information with third parties.
C. It allows them to safeguard their children against hazardous
products.
D. It allows them to rest assured that they won't be discriminated
against when applying for employment.
Answer:
It allows them to let companies know that they do not want them to share certain information with third parties.
Explanation:
"Opting-out" allows people to let companies know that they do not want them to share certain information with third parties. Thus, the correct answer is option (B).
What is opting-out?A person must actively take steps to withdraw their consent for something in order to opt-out. For instance: The user must consciously check the boxes above if they do not want to receive any additional communications. They can opt-in by doing nothing.
There are a number of ways for people to opt out of getting unwanted information about goods or services. This choice is frequently connected to direct marketing initiatives like e-mail or direct mail marketing.
Therefore, people can let companies know that they do not want them to share certain information with third parties by opting out .
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On December 1, 2021, Coronado Industries exchanged 48000 shares of its $10 par value common stock held in treasury for a used machine. The treasury shares were acquired by Coronado at a cost of $45 per share, and are accounted for under the cost method. On the date of the exchange, the common stock had a fair value of $60 per share (the shares were originally issued at $35 per share). As a result of this exchange, Coronado's total stockholders' equity will increase by
Answer:
$2,880,000
Explanation:
Calculation to determine what Coronado's total stockholders' equity will increase by
Increase in total stockholders' equity =[(48000*45)-(48000 * (60-45))]
Increase in total stockholders' equity =$2,160,000+$720,000
Increase in total stockholders' equity =$2,880,000
Therefore the total stockholders' equity will increase by $2,880,000
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
a. Lorenzo recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.
b. Teresa is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full time job.
c. Neha just graduated from college and is looking for a full- time position with an investment banking firm.
Answer:
a. Structurally unemployed.
b. Cyclically unemployed.
c. Frictionally 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;
I. Natural Rate of Unemployment (NU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Cyclical unemployment rate (CU).
a. Structurally unemployed: Lorenzo recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.
b. Cyclically unemployed: Teresa is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full time job. A cyclical unemployment can be defined as a type of unemployment which is typically related to changes in the business, economy or industry cycle such as recession, governmental policies etc.
c. Frictionally unemployed: Neha just graduated from college and is looking for a full- time position with an investment banking firm.
You are looking to purchase a new car, and you expect to have annual maintenance costs to keep it running. According to your calculations, you expect to incur $150 maintenance costs in the first year and expect the costs to increase by $100 for the next 7 years. You plan to keep the car for 8 years in total. How much money should you have in your savings account today, so that you do not have to worry about maintenance? The savings account pays 2% per year, compounded annually.
Answer:
I should have $11,554.94 in my savings account today.
Explanation:
This can be calculated using the formula for calculating the present value (PV) of a growing annuity as follows:
PVga = (P / (r - g)) * (1 – ((1 + g) / (1 + r))^n) .................... (1)
Where;
P = maintenance costs in the first year = $150
r = interest per year = 2%, or 0.02
g = growth rate of maintenance costs = Expected annual increase in maintenance costs / maintenance costs in the first year = $100 / $150 = 0.666666666666667
n = useful life = 8
Substituting the values into equation (1), we have:
PVga = (150 / (0.02 - 0.666666666666667)) * (1 - ((1 + 0.666666666666667) / (1 + 0.02))^8)
PVga = 11,554.94
Therefore, I should have $11,554.94 in my savings account today.
Which of the following statements about computer viruses is most accurate?
Viruses could be completely eliminated if people would quit sharing infected files.
Wild rumors and sloppy reporting have exaggerated the threat computer viruses pose to typical computer users. Almost all real-world computer viruses turn out to be harmless practical jokes.
The Internet contains built-in safeguards that prevent programs with viruses from being downloaded.
Although antivirus software can help identify and eliminate known viruses, the software must be updated frequently to remain effective.
Answer:
The Internet contains built-in safeguards that prevent programs with viruses from being downloaded
Explanation:
This is the Answer
A computer virus is commonly described as a malicious software program loaded onto a user’s computer without the knowledge of the user and acts some malicious actions. The Internet contains built-in safeguards that prevent programs with viruses from being downloaded.
A computer virus is also described as malicious computer code set up to spread from device to device.
It is also a subset of malware, that are self-copying threats and are usually designed to damage a device or steal data.
Most computer viruses are made to harm your computer by damaging programs, deleting files, or reformatting the hard drive.
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Which of the following is an example of a market statement?
a. Married women.
b. Students attending college.
c. Adults living in a city.
d. Realtors selling homes under $130.000
Answer:
d
Explanation:
Answer:
d.
Explanation:
Market is where people buy and sell things. The only answer which talks about that is d.
Stork Associates paid $65,400 for a 20-seat skybox at Veterans Stadium for eight professional football games. Regular seats to these games range from $55 to $165 each. At one game, an employee of Stork entertained 18 clients. Stork furnished food and beverages for the event at a cost of $2,200. The game was preceded by a bona fide business discussion, and all expenses are adequately substantiated.
a. Stork can deduct $ for this event.
b. If there was no bona fide business discussion either preceding or after the event, there is and the deduction would be $.
Answer: a. $1100
b. $0
Explanation:
It should be noted that according to IRS, 50% of the expenses on business meals will be deducted by tax payers when some conditions are met such as:
• Expenses incurred shouldn't be costly or extravagant.
• Expenses are necessary.
• Expenses on meal were incurred separately from expenses on entertainment.
• The taxpayer was present there when the expenses were incurred.
Based on the above,
a. The amount that Stork can deduct will be:
= 50% × $2200
= 0.5 × $2200
= $1100
b. If there was no bona fide business discussion either preceding or after the event, the deduction will be $0 because in such case, no expenses were incurred on food or entertainment.
Sanchez Company was formed on January 1 of the current year and is preparing the annual financial statements dated December 31, current year. Ending inventory information about the four major items stocked for regular sale follows: ENDING INVENTORY, CURRENT YEAR Item Quantity on Hand Unit Cost When Acquired (FIFO) Net Realizable Value (Market) at Year-End A 30 $ 20 $ 15 B 55 40 44 C 35 52 55 D 15 27 32 Required: 1. Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis. 2. What will be the effect of the write-down of inventory to lower of cost or net realizable value on cost of goods sold for the year ended December 31, current year
Answer:
Sanchez Company1. The valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis is:
= $4,875.
2. The amount of the write-down is $150. It will increase the cost of goods sold for the year ended December 31 by $150.
Explanation:
a) Data and Calculations:
ENDING INVENTORY, CURRENT YEAR
Item Quantity on Hand Unit Cost When Net Realizable
Acquired (FIFO) Value (Market) LCNRV
at Year-End
A 30 $ 20 $ 15 $450 ($15*30)
B 55 40 44 2,200 ($40*55)
C 35 52 55 1,820 ($52*35)
D 15 27 32 405 ($27*15)
Total 135 $5,025 $5,275 $4,875
Inventory value based on acquisition cost = $5,025 (30*$20 + 55*$40 + 35*$52 + 15*$27)
Inventory value based on NRV = $5,275 (30*$15 + 55*$44 + 35*$55 + 15*$32)
Inventory write-down = Acquisition costs minus Net realizable values
= $150 ($5,025 - $4,875)
The valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis is $4,875.
Lower of cost or NRV1. Valuation
Item Total cost Total Net Realizable Lower of cost or NRV
A 600 450 450
( 30×20 =600) ( 30×15=450)
B 2,200 2,420 2,200
(55×40 =2,200) (55×44=2,420)
C 1,820 1,925 1,820
(35×52 =1,820) ( 35×55=1,925)
D 405 480 405
(15×27 =405) (15×32=480)
Total 5,025 5,275 $4,875
2. Cost of goods sold
Cost of goods sold increase by =5,025-$4,875
Cost of goods sold increase by =$150
Inconclusion the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item-by-item basis is $4,875.
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After a devastating hurricane, households try to secure loans to repair and rebuild. Other things equal, this would lead toan increase in interest rates of home repair loans as the demand for those loans increased.an increase in interest rates of home repair loans as the demand for those loans increased.an increase in interest rates of home repair loans as the supply for those loans decreased.an increase in interest rates of home repair loans as the supply for those loans decreased.a decrease in interest rates of home repair loans as the supply for those loans increased.
Answer:
Other things equal, this would lead to:
an increase in interest rates of home repair loans as the demand for those loans increased.
Explanation:
With an increase in the demand for house repair loans, as a result of the devastation wrought by the hurricane, the rate of interest on loans normally increases with demand. The concept of scarcity of loanable funds (or limited resources) is the root cause of this increase in house loan rate. The reverse becomes the case when there is a decrease in demand.
Heavy Products, Inc. (HPI) developed standard costs for direct material and direct labor. In 2020, HPI estimated the following standard costs for one of their major products, the 10-gallon plastic container. Budgeted quantity Budgeted price Direct materials 0.90 pounds $60 per pound Direct labor 0.10 hours $30 per hour During June, Heavy Products produced and sold 19,000 containers using 1,200 pounds of direct materials at an average cost per pound of $63 and 17,100 direct manufacturing labor-hours at an average wage of $31.25 per hour. The direct manufacturing labor price variance during June is: $3600 unfavorable $950,400 unfavorable $21,375 unfavorable $21,375 favorable
Answer:
C. $21,375 unfavorable
Explanation:
Standard rate = $30 per hour
Actual rate = $31.25
Actual time = 17,100 direct labor hours
Direct manufacturing labor price variance= Actual time * (Standard rate - Actual rate)
= 17,100 * ($30 - $31.25)
= 17,100 * (-$1.25)
= $21,375 Unfavorable
So, the Direct manufacturing labor price variance during June is $21,375 U.
On January 2, 2020, Pronghorn Company sells production equipment to Fargo Inc. for $52,000. Pronghorn includes a 2-year assurance warranty service with the sale of all its equipment. The customer receives and pays for the equipment on January 2, 2020. During 2020, Pronghorn incurs costs related to warranties of $890. At December 31, 2020, Pronghorn estimates that $640 of warranty costs will be incurred in the second year of the warranty.
Required:
Prepare the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
Answer:
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
Explanation:
Preparation of the journal entry to record this transaction on January 2, 2020, and on December 31, 2020.
January 2, 2020
Dr Cash $52,000
Cr Sales Revenue $52,000
December 31, 2020
Dr Warranty expense $890
Cr Cash $890
December 31, 2020
Dr Warranty expense$640
Cr Warranty Liabiltiy $640
6. Choose a good you are familiar with, and analyze its economic utility, using the questions below. NOTE: Choose a good for this exercise, not a service.
a. What type of good did you choose? (1 sentence. 1.0 points)
b. Describe the form utility of the product you chose. What makes its form useful? Can you think of any improvements that could be made to its form utility? (1-3 sentences. 2.0 points)
c. Describe the place utility of the product. Can you think of any improvements that could be made to its place utility? (1-3 sentences. 2.0 points)
d. Describe the time utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)
e. Describe the possession utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)
f. Describe the information utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points
DONT JUST PUT AN ANSWER FOR POINTS
Answer:
a. What type of good did you choose? (1 sentence. 1.0 points)
The good I chose was a tshirt.
b. Describe the form utility of the product you chose. What makes its form useful? Can you think of any improvements that could be made to its form utility? (1-3 sentences. 2.0 points)
The form utility of the t-shirt is that it is a ready-to-wear product. You don't need to look for other items to complete it.
c. Describe the place utility of the product. Can you think of any improvements that could be made to its place utility? (1-3 sentences. 2.0 points)
The place utility of a t-shirt is that it is easily accessible to the buying public. Nowadays, you have the option to go to shopping malls, boutiques, and even online stores to buy t-shirts.
d. Describe the time utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)
The time utility of a t-shirt is that it is can easily be bought when needed. There is no waiting time for a shirt to be completed. Because of its various styles, designs, colors, and sizes, it can cater to everybody's needs at anytime.
e. Describe the possession utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)
The possession utility of a t-shirt is that once it has already been paid for, customers immediately become its owner. You can immediately wear it after purchase without hassle.
f. Describe the information utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)
The information utility of a t-shirt is that because it is a staple in everybody's closet. From toddlers to adults, t-shirts are vastly available, accessible, and affordable. All economic utility of a t-shirt is good because it meets the needs and wants of the clients.
Explanation:
hope this helps :)