Answer:
true
Explanation:
yes United states has market economies
Explanation: The free enterprise system is an economic system in which the government only exhibits partial dominance over market-correlated decisions; communism is an economic system in which the government exhibits full dominance over market-correlated decisions. The U.S.A. acts on the free enterprise system.
I did this assignment. God bless.
1. Explain in details the five models of Database Structures:
2. Explain four types of database:
3. Explain what is data warehouse, data mining, and data mart:
Answer:
A
Explanation:
well because when you sit and think about it, it kinda would just make a little bit of sense to just be A because i guess pernally to me i just feel as if itll be that answer you know ? but when you think about the round square root beer to the 7up it just doesnt sprite there honesty
Answer:
Nepali database
A company purchases a 17,160-square-foot commercial building for $385,000 and spends an additional $56,000 to divide the space into two separate rental units and prepare it for rent. Unit A, which has the desirable location on the corner and contains 3,510 square feet, will be rented for $1.00 per square foot. Unit B contains 13,650 square feet and will be rented for $0.60 per square foot. How much of the joint cost should be assigned to Unit B using the value basis of allocation
Answer: $308,700
Explanation:
First find proportion of rental income that comes from Unit B out of the total:
= (13,650 * 0.60) / [(3,510 * 1) + (13,650 * 0.60)]
= 8,190 / 11,700
= 70%
Joint cost = 385,000 + 56,000
= $441,000
Proportion to be assigned to Unit B:
= 441,000 * 70%
= $308,700
Can someone please help me
Answer:
A. $1,178.705
B. $1,753.05
C. $1,474.305
Explanation:
a. Calculation to determine the monthly mortgage payment of $159,500, 25-year loan at 7.5 percent.
Using this formula
Installment=Loan amount/1,000*(Table value 7.5% for 25 years)
Let plug in the formula
Installment=$159,500/$1,000*7.39
Installment=$1,178.705
Therefore the monthly mortgage payment of $159,500, 25-year loan at 7.5 percent will be $1,178.705
b. Calculation to determine the monthly mortgage payment of $217,500, 20-year loan at 7.5 percent.
Using this formula
Installment=Loan amount/1,000*(Table value 7.5% for 20 years)
Let plug in the formula
Installment=$217,500/$1,000*8.06
Installment=$1,753.05
Therefore the monthly mortgage payment of $217,500, 20-year loan at 7.5 percent will be $1,753.05
c. Calculation to determine the monthly mortgage payment of $199,500, 25-year loan at 7.5 percent.
Using this formula
Installment=Loan amount/1,000*(Table value 7.5% for 25 years)
Let plug in the formula
Installment=$199,500/$1,000*7.39
Installment=$1,474.305
Therefore the monthly mortgage payment of $199,500, 25-year loan at 7.5 percent will be $1,474.305
Yong performs research, and creates models for proposed road improvement projects. Her job title is best described as . Roberta analyzes roads to find ways to improve their safety. Her job title is best described as . Timothy checks aircrafts to make sure they meet standards and regulations. His job title is best described as .
Yong performs research, and creates models for proposed road improvement projects. Her job title is best described as
✔ Transportation Planner
Roberta analyzes roads to find ways to improve their safety. Her job title is best described as
✔ Traffic Technician
Timothy checks aircrafts to make sure they meet standards and regulations. His job title is best described as
✔ Aviation Inspector
A job title defines the description of the responsibilities of the position. For all of the above statements, the job title that best describes them is as follows:
What do you mean by job title?A job title refers to a position that is associated with a specific set of responsibilities.
Young performs research and creates models for proposed road improvement projects. Her job title is best described as Transportation Planner. Roberta analyzes roads to find ways to improve their safety. Her job title is best described as Traffic Technician. Timothy checks aircraft to make sure they meet standards and regulations. His job title is best described as Aviation Inspector.
Learn more about the Job title here:
https://brainly.com/question/12174245
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Changes in Growth and Stock Valuation Consider a firm that had been priced using a 10 percent growth rate and a 13 percent required rate. The firm recently paid a $2.40 dividend. The firm has just announced that because of a new joint venture, it will likely grow at a 11 percent rate. How much should the stock price change (in dollars and percentage)
Answer:
Change in dollars $45.20
Change in percentage 51.36%
Explanation:
Calculation to determine How much should the stock price change (in dollars and percentage)
First step is to calculate the Price before change
Price before change= ($2.40*1.10)/(.13 - .10)
Price before change = $2.64/0.03
Price before change = $88
Second step is to calculate Price after change
Price after change=($2.40*1.11)/(.13 - .11)
Price after change=$2.664/0.02
Price after change = $133.2
Now let calculate the in dollars and percentage
Change in dollars=$133.2 -$88
Change in dollars=$45.20
Change in percentage=$45.20/$88
Change in percentage=0.5136*100
Change in percentage=51.36%
Therefore How much should the stock price change (in dollars and percentage) will be :
Change in dollars $45.20
Change in percentage 51.36%
ABC Corporation adopted the dollar-value LIFO method of inventory valuation on December 31, 2019. Its inventory at that date was $1,000,000 and the relevant price index was 1.00. Information regarding inventory for subsequent years is as follows: Date Inventory at Current Year Prices Price Index 12/31/2019 1,000,000 1.00 12/31/2020 1,285,200 1.08 12/31/2021 1,439,100 1.23 12/31/2022 1,625,000 1.30 What is the cost of the ending inventory at December 31, 2021 under dollar-value LIFO
Answer:
$1,209,100
Explanation:
The computation of the cost of the ending inventory as on Dec 31,2021 is shown below:
= Inventory as on Dec 31,2019 + {(Inventory as on Dec 31,2021 ÷ 2021 price index × 2019 price index) - Inventory as on Dec 31,2019} × 2021 price index ÷ 2019 price index
= $1,000,000 + {($1,439,100 ÷ 1.23 × 1) - $1,000,000} × 1.23 ÷ 1
= $1,000,000 + ($1,170,000 - $1,000,000) × 1.23
= $1,000,000 + $209,100
= $1,209,100
The Paralympic committee’s marketing team developed a mass-communication TV spot to raise awareness of the Paralympic brand. This type of TV spot is an example of ________.
A- Advertising
B- Guerilla marketing
C- Digital Marketing
25. On January 1, X9, Gerald received his 50 percent profits and capital interest in High Air, LLC, in exchange for $2,700 in cash and real property with a $3,700 tax basis secured by a $2,700 nonrecourse mortgage. High Air reported a $15,700 loss for its X9 calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation
Answer:
The amount of loss that Gerald
can deduct is $5,050, and how much loss must he suspend if he only applies the tax basis loss limitation is $2,700
Explanation:
Calculation to determine How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation
Calculation for Gerald's initial tax basis is
Gerald's initial tax basis= [$2,700 + $3,700 - $2,700 + (50% × $2,700)]
Gerald's initial tax basis= [$2,700 + $3,700 - $2,700 + $1,350]
Gerald's initial tax basis= $5,050
Calculation for Gerald allocation
Gerald 50% allocation =50%*$15,500
Gerald 50% allocation =$7,750
Calculation for the Remaining loss that would be suspended and carried forward indefinitely
Suspended loss= $7,750-$5,050
Suspended loss= $2,700
Therefore the amount of loss that Gerald
can deduct is $5,050, and how much loss must he suspend if he only applies the tax basis loss limitation is $2,700 ($7,750-$5,050)
Colbert operates a catering service on the accrual method. In November of year 1, Colbert received a payment of $9,000 for 18 months of catering services to be rendered from December 1st of year 1 through May 31st of year 3. When must Colbert recognize the income if his accounting methods are selected to minimize income recognition?
a. $500 is recognized in year 1, $6,000 in year 2, and $2,500 in year 3.
b. $500 is recognized in year 1 and $8,500 in year 2.
c. $9,000 is recognized in year 3.
d. $2,500 is recognized in year 1 and $6,500 in year 2.
e. $9,000 is recognized in year 1.
Answer:
b) $500 is recognized in year 1 and $8,500 in year 2.
Explanation:
Calculation to determine When must Colbert recognize the income if his accounting methods are selected to minimize income recognition?
Calculation for amount recognized in year 1
Payment in year 1= $9,000 ÷ 18 months
Payment in year 1= $500
Therefore Based on the above calculation the amount recognized in year 1 will be $500
Calculation for the amount recognized in year 2
Payment in year 2 = $9,000 - $500
Payment in year 2= $8,500
Therefore The amount recognized in year 2 will be $8,500
The management of National Inc. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2022, the accounting records show these data.
Inventory, January 1 (10,000 units) $35,000
Cost of 120,000 units purchased 468,500
Selling price of 98,000 units sold 750,000
Operating expenses 124,000
Units purchased consisted of 35,000 units at $3.70 on May 10; 60,000 units at $3.90 on August 15; and 25,000 units at $4.20 on November 20. Income taxes are 28%.
Required:
Prepare comparative condensed income statements for 2022 under FIFO and LIFO.
Answer:
National Inc.
Comparative condensed income statements for 2022
FIFO LIFO
Sales $750,000 750,000
Less Cost of Sales ($371,200) ($394,500)
Gross Profit $378,800 $355,500
Less Expenses
Operating expenses ($124,000) ($124,000)
Operating Profit $254,800 $231,500
Income tax expense ($71,344) ($64,820)
Net Income (Loss) $183,456 $166,680
Explanation:
FIFO
Assumes that the units to arrive first will be sold first. Therefore, the Cost of Goods Sold will be based on the earlier (old) prices.
Cost of Sales = 10,000 x $3.50 + 35,000 x $3.70 + 53,000 x $3.90 = $371,200
LIFO
Assumes that the units to arrive last will be sold first, Hence the Cost of Goods Sold will be based on the later (new) prices.
Cost of Sales = 25,000 x $4.20 + 60,000 x $3.90 + 15,000 x $3.70 = $394,500
Assume that your father is now 40 years old, that he plans to retire in 20 years, and that he expects to live for 25 years after he retires, that is, until he is 85. He wants a fixed retirement income that has the same purchasing power at the time he retires as $75,000 has today. (He realizes that the real value of his retirement income will decline year-by-year after he retires.) His retirement income will begin the day he retires, 20 years from today, and he will then receive 24 additional annual payments. Inflation is expected to be 4% per year from today forward; he currently has $200,000 saved; and he expects to earn a return on his savings of 7% per year, annual compounding. To the nearest dollar, how much must he save during each of the next 20 years (with deposits being made at the end of each year) to meet his retirement goal
Answer:
Explanation:
People deserve a break, Just give them time.
Gomez runs a small pottery firm. He hires one helper at $10,000 per year, pays annual rent of $4,000 for his shop, and spends $16,000 per year on materials. He has $40,000 of his own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn him $4,000 per year if alternatively invested. He has been offered $18,000 per year to work as a potter for a competitor. He estimates he could use his talents to earn an additional $2,000 per year in consulting fees if he were working full time as a potter. Total annual revenue from pottery sales is $65,000.
a. Calculate the accounting profit for Gomez’s pottery firm.
b. Now calculate Gomez's economic profit.
Answer:
$35,000
$11,000
Explanation:
Assume initially that the price of X (the quantity of which is measured on the horizontal axis) is $9 and the price of Y (the quantity of which is measured on the vertical axis) is $4. If the price of X now declines to $6, the budget line will Multiple Choice be unaffected. shift outward on the vertical axis. shift inward on the horizontal axis. shift outward on the horizontal axis.
Answer:
The budget line will shift outward on the horizontal axis.
Explanation:
One of the laws of the demand is that the lower the price of a good, the higher the quantity of that good that is purchased.
From the question, a decline in the price of X from $9 to $6, will lead to an increase in the quantity of X that is bought.
Since the price of Y still remains at $4, if the price of X now declines to $6, the budget line will shift outward on the horizontal axis.
The BCD Partnership plans to distribute cash of $20,000 to partner Brad at the end of the tax year. The partnership reported a loss for the year, and Brad's share of the loss is $10,000. At the beginning of the tax year, Brad's basis in his partnership interest, including his share of partnership liabilities, was $15,000. The partnership expects to report substantial income in future years.
Required:
a. What ordering rules are used to calculate Bradâs ending basis in his partnership interest?
b. How much gain or loss will Brad report for the tax year?
c. Will the deduction for the $10,000 loss be suspended? Why or why not?
d. Could any planning opportunities be used to minimize any negative tax ramifications of the distribution? Explain.
Answer:
See below
Explanation:
a.
The rules used here is called the ordering rules. It can also be called reduce basis distribution.
b.
For the tax year report , the gain would be $5,000
c.
The deduction for the loss of $10,000 could be suspended or put on hold.
The reason is that losses are not deductible to pay off shareholders
d.
It is true that there are planning opportunities, which could mitigate the negative tax ramifications of the distribution as are under tax diversification. Here, it will open more room for flexibility in order to optimally the most tax efficient method of liquidating assets.
Sunland Company is unsure of whether to sell its product assembled or unassembled. The unit cost of the unassembled product is $24 and Sunland would sell it for $62. The cost to assemble the product is estimated at $26 per unit and the company believes the market would support a price of $87 on the assembled unit. What decision should Sunland make
Answer: Sell before assembly, the company will be better off by $1 per unit.
Explanation:
To solve the above question, we need to calculate the incremental profit or loss first. This will be:
= After assembling sales value - Unassembled unit sales value - Coat if further processing
= $87 - $62 - $26
= -$1
Since there is an incremental loss of $1, then the correct answer is "Sell before assembly, the company will be better off by $1 per unit".
The E.N.D. partnership has the following capital balances as of the end of the current year: Pineda $ 180,000 Adams 160,000 Fergie 150,000 Gomez 140,000 Total capital $ 630,000 Answer each of the following independent questions: Assume that the partners share profits and losses 3:3:2:2, respectively. Fergie retires and is paid $183,000 based on the terms of the original partnership agreement. If the goodwill method is used, what is the capital balance of the remaining three partners
Answer:
Goodwill Calculation
Amount paid to Fergie $183,000
Less: Fergie Capital $150,000
Goodwill $33,000
Fergie's share is 20% in Goodwill. Total Goodwill = $33,000 / 20% = $165,000
Calculation of Capital Balance After Fergie's retirement
Pineda Adams Fergie Gomez Total
Opening Balance $180,000 $160,000 $150,000 $140,000 $630,000
Add: Goodwill $49,500 $49,500 $33,000 $33,000 $165,000
(Distributed - 3:3:2:2)
Less: Amount Paid - - ($183,000) - ($183,000)
Balance $229,500 $209,500 - $173,000 $612,000
Which of the following statements is false?
A)
Two common measures of the risk of a probability distribution are its variance and standard deviation.
B)
Most car loans, mortgages, and some bonds are annuities.
C)
An annuity is a stream of N equal cash flows paid at irregular intervals.
D)
A growing perpetuity is a cash flow stream that occurs at regular intervals and grows at a constant rate forever.
E)
The difference between an annuity and a perpetuity is that an annuity ends after some fixed number of payments.
Answer:
Which of the following statements is false?(A)
Explanation:
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Answer:
C
Explanation:
because an annuity is a stream of N equal cash
The gross domestic product (GDP) of the United States is defined as the __________all _____________ in a given period of time.
Based on this definition, indicate which of the following transactions will be included in (that is, directly increase) the GDP of the United States in 2018
a. Rotato, a U.S. tire company, produces a set of tires at a plant in Michigan on September 13, 2018. It sells the set of tires to Speedmaster for use in the production of a two-door coupe that will be made in the United States in 2018.
b. Zippycar, a U.S. automobile company, produces a convertible at a manufacturing plant in Minneapolis on January 21, 2018. It sells the car at a dealership in Houston on February 10, 2018.
c. Sofaland, a Swedish furniture company, produces a table at a plant in Virginia on December 5, 2018. It sells the table to a college student on December 24.
d. You chop down a cherry tree on your property in California and make a dining room table in 2018. A similar table sells for $800 in a local furniture store.
Answer:
MARKET VALUE OF
FINAL GOODS AND SERVICES, PRODUCED IN THE U.S.
NOT INCLUDED
INCLUDED
INCLUDED
NOT INCLUDED
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
a. the tire sold is not included in US GDP because it is an intermediate good. An intermediate good is a good that is used in the production of other goods. The tire is used as an input in the production of a two-door coupe
b. The car would be included as part of business spending in US GDP
C. The table would be included in GDP as part of consumption spending on durables
d. Services rendered to ones self is not recorded in GDP
You purchased five August 13 futures contracts on soybeans at a price quote of 1056′6. Each contract is for 5,000 bushels with the price quoted in cents and 1/8 ths of a cent per bushel. Assume the contract price is 1061′4 when you close out your contract six weeks from now. What will be your total profit or loss on this investment? A) $6,480.75 B) $1,187.50 C) $950.25 D) $24,000.00 E) $16,200.50
Answer:
B) $1,187.50
Explanation:
The computation of the total profit or loss on this investment is given below:
Expiration price = 1061'4 = 1061 + 4 ÷ 8 = 1061.50
Quoted price = 1056'6 = 1056 + 6 ÷ 8 = 1056.75
Now the profit is
= (1061.50 - 1056.75) × 5000 × 5
= $1,187.50
Hence, the profit on this investment is $1,187.50
Tisdale Incorporated reports the following amount in its December 31.2018. income statement.
Sales revenue $285,000 Income tax expense $27,000
Non-operating revenue 107,000 Cost of goods sold 187,000
Selling expenses 57,000 Administrative expenses 37,000
General expenses 47,000
Required:
Prepare a multiple-step income statement and analyze profitability
Answer and Explanation:
The preparation of the multiple-step income statement is presented below:
Sales revenue $285,000
Less:
cost of goods sold - $187,000
Gross profit $98,000
Less:
Selling expenses -$57,000
Administrative expenses -$37,000
General expenses -$47,000
Operating loss -$43,000
Non-operating revenue $107,000
Income before taxes $64,000
Less: income tax expense -$27,000
net income $37,000
since there is the net income so the Tisdale Incorporated would have the high profitable position
Martin Company purchases a machine at the beginning of the year at a cost of $160,000. The machine is depreciated using the double-declining-balance method. The machine’s useful life is estimated to be 4 years with a $13,300 salvage value. The machine’s book value at the end of year 3 is:
Answer:
$6,700.
Explanation:
How to find
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = $160,000 × (2 × 25%) = $80,000 (Depreciation Expense, year 1)
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $80,000) × (2 × 25%) = $40,000 (Depreciation Expense, year 2)
Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $120,000) × (2 × 25%) = $20,000 (Depreciation Expense, year 3) Depreciation Expense = Beginning of Year Book Value × Double Straight-line Rate
Depreciation Expense = ($160,000 − $140,000) × (2 × 25%) = $10,000, but this would reduce the book value to less than salvage. Therefore, depreciation expense in year 4 is limited to $6,700.
(Book value at the beginning of the year, $20,000, minus the $13,300 salvage.)
State of the Economy Probability of the States Percentage Returns Economic recession 25% 5% Moderate economic growth 50% 10% Strong economic growth 25% 13% The standard deviation from investing in the asset is:
Answer:
The standard deviation from investing in the asset is 14.40%.
Explanation:
Note: The data in the question are first sorted before answering the question as follows:
State of the Economy Probability of the States Percentage Returns
Economic recession 25% 5%
Moderate economic growth 50% 10%
Strong economic growth 25% 13%
The standard deviation from investing in the asset is:
The explanation of the answer is now given as follows:
Note: See the attached excel file for the calculation of Variance from investing in the asset.
From the attached excel file, we have:
Variance = 2.07%
Therefore, we have:
Standard deviation = Variance^0.5 = 2.07%^0.5 = 14.40%
Therefore, the standard deviation from investing in the asset is 14.40%.
Indicate what happens to the unemployment rate and the labor-force participation rate in each of the following scenarios.
Effect On...
Scenario Unemployment Rate Labor-Force Participation Rate
Kenji, a full-time college student, graduates and is immediately employed.
Lucia quits her job to become a stay-at-home mom.
Paolo has a birthday, becomes an adult, and starts looking for a job.
Sharon dies working long hours at the office.
Answer and Explanation:
The effects are as follows:
a. For kenji
The rate of unemployment would be decreased and the rate of Labor-Force Participation would be increased as the person is employed now
b. For Lucia
The rate of unemployment would be increased and therate of Labor-Force Participation would be decreased as the person is no more employed
c. For Paolo
The rate of unemployment would be increased and therate of Labor-Force Participation would also be increased
d. For sharon
The rate of unemployment would be increased and the rate of Labor-Force Participation would be decreased as the person is no more employed
Braxton Enterprises currently has debt outstanding of million and an interest rate of . Braxton plans to reduce its debt by repaying million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is , what is the interest tax shield from Braxton's debt in each of the next five years?
Answer:
Interest tax shield in year 0 = $1.155 million
Interest tax shield in year 1 = $0.924 million
Interest tax shield in year 2 = $0.693 million
Interest tax shield in year 3 = $0.462 million
Interest tax shield in year 4 = $0.231 million
Interest tax shield in year 5 = 0
Explanation:
Here is the complete question :
Braxton Enterprises currently has debt outstanding of $55 million and an interest rate of 6%. Braxton plans to reduce its debt by repaying $11 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 35%, what is the interest tax shield from Braxton's debt in each of the next five years?
interest tax shield is a reduction in tax paid as a result of interest paid on debt
interest tax shield = (debt amount x interest rate x tax rate)
Interest tax shield in year 0 = $55 million x 0.06 x 0.35 = $1.155 million
Debt in year 1 = $55 million - 11million = $44 million
Interest tax shield in year 1 = $44 million x 0.06 x 0.35 = $0.924 million
Debt in year 2 = $44 million - 11million = $33 million
Interest tax shield in year 2 = $33 million x 0.06 x 0.35 = $0.693 million
Debt in year 3 = $33 million - 11million = $22 million
Interest tax shield in year 3 = $22 million x 0.06 x 0.35 = $0.462 million
Debt in year 4 = $22 million - $11 million = $11 million
Interest tax shield in year 4 = $11 million x 0.06 x 0.35 = $0.231 million
Debt in year 5 = $11 million - $11 million = 0
Interest tax shield in year 5 = 0 x 0.06 x 0.35 = 0
You are looking at a one-year loan of $13,000. The interest rate is quoted as 9.6 percent plus three points. A point on a loan is 1 percent (one percentage point) of the loan amount. Quotes similar to this one are common with home mortgages. The interest rate quotation in this example requires the borrower to pay three points to the lender up front and repay the loan later with 9.6 percent interest.
Required:
What rate would you actually be paying here?
Answer: 10.3%
Explanation:
The borrower is to pay 3 points on the loan to get it which means that the effective total they are getting is:
= 13,000 * ( 1 - 3%)
= $12,610
The borrower will also have to pay an interest of 7% so the total to pay back is:
= 13,000 * ( 1 + 7%)
= $13,910
Interest actually paid:
= Amount to paid back / Amount to be received - 1
= (13,910 / 12,610) - 1
= 10.3%
During 2020, Vaughn Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Vaughn for a lump sum of $131,670 because it is discontinuing manufacturing operations and wishes to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are listed below.
Type No. of Chairs Estimated Selling
Price Each
Lounge chairs 880 $90
Armchairs 660 80
Straight chairs 1,540 50
During 2020, Sarasota sells 440 lounge chairs, 220 armchairs, and 264 straight chairs.
What is the amount of gross profit realized during 2020? What is the amount of inventory of unsold straight chairs on December 31, 2020?
Answer:Gross profit realized during 2020 =$30,899
amount of inventory of unsold straight chairs on December 31, 2020 =$63,800
Explanation:
A)Vaughn Furniture Company purchases a carload of wicker chairs at a cost of a lump sum of $131,670 in 2020
Now the total number of chairs purchased per type is;
Lounge chairs 880
Armchairs 660
Straight chairs 1,540
Total = 3,080 chairs purchased
Also, Vaughn sells
440 Lounge chairs at $90 each = 440 x 90=$39,600
220 Armchairs at $80 each= 220 x 80 =$ 17600
264 Straight chairs at $50 each = 264 x 50 =$13,200
Total selling price of 924 chairs =$39,600+$ 17600+$13,200 =$70,400
Now , if 3,080 chairs can be purchased for a-lump sum amount of $131,670
924 chairs can be puchased in a lump sum of (924 x 131,670) /3080
=$39,501
Remember that the Selling price for 924 chairs =$70,400
Gross profit realized during 2020 = $70,400 -$39,501=$30,899
b).
Estimated Selling Price value for straight chair =$50
Straight chairs remaining= 1540-264=1276
1276 at $50 each = 1276 X 50 =$63,800
Meiji Isetan Corp. of Japan has two regional divisions with headquarters in Osaka and Yokohama. Selected data on the two divisions follow: Division Osaka Yokohama Sales $ 10,200,000 $ 32,000,000 Net operating income $ 816,000 $ 3,200,000 Average operating assets $ 2,550,000 $ 16,000,000 Required: 1. For each division, compute the return on investment (ROI) in terms of margin and turnover. 2. Assume that the company evaluates performance using residual income and that the minimum required rate of return for any division is 17%. Compute the residual income for each division. 3. Is Yokohama’s greater amount of residual income an indication that it is better managed?
Answer: See explanation
Explanation:
1. The return on investment for Osaka will be:
= (816000/10200000) × (10200000 × 2550000)
= 32%
The return on investment for Yokohama will be:
= (3200000/32000000) × (32000000/16000000)
= 20%
2. See attachment
3. Yokohama’s greater amount of residual income is not an indication that it is better managed. Since Yokohama Division is bigger than Osaka Division, it's expected that Yokohama will have a greater residual amount.
Standard quantity 7.0 liters per unit Standard price $ 1.50 per liter Standard cost $ 10.50 per unit The company budgeted for production of 2,800 units in April, but actual production was 2,900 units. The company used 21,200 liters of direct material to produce this output. The company purchased 19,100 liters of the direct material at $1.60 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is
Answer:
$1,350U
Explanation:
Calculation to determine what The materials quantity variance for April is
Using this formula
Materials quantity variance=(AQ-SQ)*SP
Let plug in the formula
Materials quantity variance=[21,200 liters-(2,900 units*7.0 liters )*$ 1.50
Materials quantity variance{(21,200-20,300)*$1.50
Materials quantity variance=900*$1.50
Materials quantity variance=$1,350 U
Therefore the Materials quantity variance is $1,350 Unfavorable
By the time you turn 30 years old, what insurance do you expect to have?
Phone Insurance
Renter's Insurance
Homeowner's Insurance
Health Insurance
Life Insurance
Car Insurance
honestly you would need all of them because they are very important to have as you get older
Do you think it would be worth it to hire an interior designer to decorate your home? Why or why not?
Answer:
Yes..... Because you wouldn't have to get all the equipment they come prepared