The statement "Hudson was unable to totally satisfy customer demands" implies that there was excess demand for the products on sale during the grand opening.
The fact that Hudson was unable to totally satisfy customer demands means that the sales prices quoted in the advertisement were lower than the market-clearing price.
This resulted in excess demand, as customers wanted to purchase more items at the lower prices than what Hudson had in stock.
This is a common occurrence in retail businesses during promotional events, and it highlights the importance of setting prices at the market-clearing level to avoid excess demand or excess supply.
For more questions like Demand click the link below:
https://brainly.com/question/29761926
#SPJ11
gemstones miner co. acquired mineral rights for $172,000,000. it is estimated that there are 4,000,000 tons of the resource, and during the current year 800,000 tons were mined and sold. what is the rate of depletion?
The rate of depletion for gemstones miner co. is $34,400,000 for the current year.
To determine the rate of depletion, we first need to calculate the depletion base. The depletion base is the cost of the mineral rights divided by the estimated total tons of the resource, which is:
$172,000,000 / 4,000,000 tons = $43 per ton
Next, we multiply the depletion base by the number of tons mined and sold during the current year, which is:
$43 per ton x 800,000 tons = $34,400,000
Therefore, the rate of depletion for gemstones miner co. is $34,400,000 for the current year. This means that they have depleted 20% of their estimated total resource (800,000 tons / 4,000,000 tons) during this year.
Depletion is the process of allocating the cost of natural resources to the periods in which they are consumed or sold. It is similar to depreciation for tangible assets. The rate of depletion is important for financial reporting purposes and can help companies estimate the remaining useful life of their natural resources.
For more about depletion:
https://brainly.com/question/16958246
#SPJ11
which of the following would help a government reduce an inflationary output gap? instructions: in order to receive full credit, you must make a selection for each option. for correct answer(s), click the box once to place a check mark. for incorrect answer(s), click the option twice to empty the box. check all that apply raising taxes unanswered increasing government spending unanswered decreasing government spending unanswered lowering taxes
To reduce an inflationary output gap, the government can D) lower taxes and C) decrease government spending.
An inflationary output gap occurs when the economy is producing beyond its potential level, leading to rising prices and inflation. To address this, the government can use contractionary fiscal policy by reducing aggregate demand through lower government spending and lower taxes, which would reduce disposable income and consumer spending.
Lower government spending would also decrease the amount of money circulating in the economy, reducing demand and prices. By reducing aggregate demand, the economy will return to its potential output level, reducing inflationary pressures.
Raising taxes and increasing government spending, on the other hand, would increase aggregate demand, exacerbating the inflationary gap.So c and d are correct options.
For more questions like Taxes click the link below:
https://brainly.com/question/1362871
#SPJ11
What is supernormal or pure economic profit?
Supernormal or pure economic profit is a concept in economics that refers to the amount of profit that is earned above and beyond what is necessary to compensate the owners of a business for their time, labor, and capital investment.
In other words, supernormal profit is the profit that a business earns after covering all of its costs, including the opportunity cost of the capital invested by the owners. The opportunity cost is the return that the owners could have earned by investing their capital in an alternative opportunity.
Supernormal profit is often used as a measure of a business's economic success, as it indicates that the business is earning more than the minimum required to remain in operation. It can also be a signal to other firms that there is a profitable opportunity in the market, which can lead to increased competition and ultimately lower profits.
For more such questions on economic profit visit:
https://brainly.com/question/31117493
#SPJ11
kasson company has budgeted units to be produced for the next five months as follows: budgeted units to be produced june 15,000 july 12,000 august 22,000 september 11,000 october 18,000 kasson company used the following information in creating its master budget for the year: 1. ending direct materials inventory for each month should be equal to 140% of the next month's production needs. 2. each unit produced requires 2.5 pounds of direct materials. 3. direct materials are purchased for $2.30 per pound. calculate the cost of direct materials budgeted to be purchased in june.
To calculate the cost of direct materials budgeted to be purchased in June, we need to first determine the production needs for July, which is 12,000 units. Therefore, the cost of direct materials budgeted to be purchased in June is $47,610.
According to the information provided, the ending direct materials inventory for June should be equal to 140% of July's production needs, which is 16,800 pounds (12,000 x 140%).
Next, we need to determine the total pounds of direct materials needed for the production of 15,000 units in June. Each unit produced requires 2.5 pounds of direct materials, so 15,000 units will require a total of 37,500 pounds (15,000 x 2.5).
To determine the total pounds of direct materials budgeted to be purchased in June, we need to subtract the ending direct materials inventory for June (16,800 pounds) from the total direct materials needed for June's production (37,500 pounds).
37,500 pounds - 16,800 pounds = 20,700 pounds of direct materials budgeted to be purchased in June.
Finally, we need to multiply the total pounds of direct materials budgeted to be purchased in June (20,700 pounds) by the cost per pound of direct materials ($2.30).
20,700 pounds x $2.30 per pound = $47,610 budgeted cost of direct materials to be purchased in June.
Learn more about direct materials:
brainly.com/question/31141009
#SPJ11
The 15. The present value of a farm is $10,000. It pays $2000 per year in net income. interest rate per year must be: A) 0 percent. B) 5 percent. C) 10 percent. D) 15 percent. E) 20 percent.
The interest rate per year must be 20 percent.
The interest rate per year can be calculated using the formula: interest rate = (annual net income / present value) x 100. Substituting the values given, we get: interest rate = ($2,000 / $10,000) x 100 = 20%. Therefore, the interest rate per year must be 20 percent. This suggests that the farm has a high level of risk or uncertainty, which is reflected in the high return that is required by investors.
To know more about investment and interest rates, visit:
https://brainly.com/question/1703160
#SPJ11
T/F Fiscal policy refers to the government's ability to print money.
The statement "Fiscal policy does not refer to the government's ability to print money" is False because Fiscal policy involves the use of government spending and taxation to influence the economy. It is primarily focused on managing aggregate demand, which is the total demand for goods and services within the economy.
Fiscal policy operates through two key components: government spending and taxation. Government spending can be used to stimulate economic growth by providing public goods and services or by investing in infrastructure projects. This, in turn, can create jobs and increase consumer spending. On the other hand, taxation can be used to reduce inflation by decreasing disposable income, thus lowering aggregate demand.
In contrast to fiscal policy, the government's ability to print money falls under the realm of monetary policy. Monetary policy is conducted by the central bank and focuses on managing the money supply and interest rates. This is done to influence the levels of inflation, employment, and economic growth. Central banks may increase the money supply by printing more currency or using other tools such as open market operations and adjusting interest rates.
In summary, fiscal policy and monetary policy are two distinct ways that governments and central banks manage the economy. Fiscal policy deals with government spending and taxation, while monetary policy involves managing the money supply and interest rates, including the ability to print money.
To know more about Fiscal policy, refer here:
https://brainly.com/question/27250647#
#SPJ11
the bronco corporation exchanged land for equipment. the land had a book value of $121,000 and a fair value of $152,000. bronco paid the owner of the equipment $11,000 to complete the exchange which has commercial substance. required: what is the fair value of the equipment? prepare the journal entry to record the exchange.
Fair value of the equipment is $141,000. The journal entry to record the exchange is: Equipment $141,000, Land $121,000, Cash $11,000, and Gain on Exchange $11,000.
To determine the fair value of the equipment, we need to use the fair value of the land as a basis for the exchange. Since the fair value of the land was $152,000, we can assume that the fair value of the equipment is also $152,000 minus the cash payment of $11,000, which equals $141,000.
The journal entry to record the exchange would be:
Equipment $141,000
Land $121,000
Cash $11,000
Gain on Exchange $11,000
The Equipment account is debited for the fair value of the equipment received, which is $141,000. The Land account is credited for its book value of $121,000.
The Cash account is credited for the cash payment of $11,000. Finally, the Gain on Exchange account is credited for the difference between the fair value of the land and its book value, which is $31,000 ($152,000 - $121,000).
Learn more about Exchange :
https://brainly.com/question/27659985
#SPJ4
Acme, inc. bought land and a factory building for $80,000. the land was appraised at $25,000 and the building at $75,000. acme would record the land at _________ and the building at _________
Acme, inc. bought land and a factory building for $80,000. the land was appraised at $25,000 and the building at $75,000. acme would record the land at $20,000 and the building at $60,000.
The land was appraised at $25,000, and the factory building was appraised at $75,000. The total appraised value of both assets is $100,000 ($25,000 for the land + $75,000 for the building). However, Acme, Inc. bought both the land and the factory building for a combined purchase price of $80,000. To allocate the cost between the land and the building, we need to determine the proportionate value of each asset.
Land's proportionate value = (Land's appraised value / Total appraised value) x Purchase price
= ($25,000 / $100,000) x $80,000
= 0.25 x $80,000
= $20,000
Building's proportionate value = (Building's appraised value / Total appraised value) x Purchase price
= ($75,000 / $100,000) x $80,000
= 0.75 x $80,000
= $60,000
Therefore, Acme, Inc. would record the land at $20,000 and the building at $60,000.
Read more about "Assests": https://brainly.com/question/28390331
#SPJ11
a 5 percent reduction in the money supply will, according to most economists, reduce prices 5 percent:
Most economists believe that a 5 percent decrease in the money supply will result in a corresponding 5 percent decrease in prices.
The relationship between the money supply and prices is governed by the quantity theory of money, which posits that the total amount of money in circulation in an economy is directly proportional to the overall price level.
Therefore, if the money supply is reduced by 5 percent, the theory suggests that prices should also fall by 5 percent to maintain equilibrium in the market.
However, it is important to note that this relationship may not hold true in all cases due to various factors such as changes in productivity, consumer behavior, and government policies. Additionally, the impact of a change in the money supply on prices may not be immediate and can take time to materialize.
For more questions like Market click the link below:
https://brainly.com/question/13414268
#SPJ11
fill in the blank. dew drop inn, inc. has a current ratio of 0.9 to 1.0 and $4 of debt for every $1 of equity. if dew drop inn needs additional financing, it would best improve its financial situation with___.multiple choice question.the purchase of treasury stockequity financingthe payment of a stock dividenddebt financing
The best option for Dew Drop Inn, Inc. to improve its financial situation would be equity financing.
Dew Drop Inn, Inc. has a current ratio of 0.9 to 1.0, which indicates that it may have difficulty meeting its short-term obligations.
Additionally, the company has $4 of debt for every $1 of equity, which indicates that it has a high level of financial leverage. Given these factors, taking on more debt would likely exacerbate the company's financial situation.
Instead, equity financing, such as issuing new shares of stock or seeking investors, would provide the company with additional capital without adding to its debt burden.
The purchase of treasury stock or the payment of a stock dividend would not be the best options for improving the company's financial situation since they do not provide additional capital.
For more questions like Capital click the link below:
https://brainly.com/question/29946431
#SPJ11
there are several ways that governments can increase or decrease the money supply. match the descriptions with the corresponding policy tool. it's possible that a description does not apply to any of the policy tools.
You can match them by associating the policy tool with its corresponding description. For example: Open Market Operations - The Fed buying and selling securities to influence the money supply.
Policy Tools:
Open Market Operations
Reserve Requirement
Discount Rate
Descriptions:
a. The Fed buying and selling securities to influence the money supply.
b. The percentage of deposits that banks must hold in reserve, not available for loans.
c. The interest rate at which banks can borrow money directly from the Fed.
To know more about policy tool,
https://brainly.com/question/30236809
#SPJ11
michele's beauty secrets is a new, organic-based makeup line. michele would like to hire cassie thorpe, a renowned makeup artist, to demonstrate the use of michele's beauty secrets in her blog. michele knows that cassie's followers will be highly interested in her product line. which factor is michele considering at this point?
Michele is considering factor of influencer marketing and potential benefits of hiring Cassie.
Influencer marketing is a form of marketing technique that entails collaborating with influencers, or people with a significant following on social media or in a particular niche, to promote a good or service. Influencers may assist increase brand recognition, reputation, and product exposure while also having a substantial effect on their followers' purchase decisions.
Michele is probably evaluating the possible advantages of utilising Cassie, a well-known makeup artist, to illustrate the application of Michele's Beauty Secrets in her blog in order to market her organic cosmetics line. Because Cassie is a cosmetics and beauty enthusiast, her fans may trust her advice and be more inclined to try out Michele's Beauty Secrets as a result. Cassie's blog and social media platforms may also be taken into account by Michele, along with compatibility of Cassie's audience and Michele's target market.
Read more about influencer marketing on:
https://brainly.com/question/28317910
#SPJ4
which output device is most appropriate for post-production editing?responsesdigital projectordigital projector monitormonitor camera in lcd view
Digital projectors and LCD view cameras are not as suitable due to their lower image quality and color accuracy.
The most appropriate output device for post-production editing would be a high-quality monitor specifically designed for video editing. This allows for accurate color grading and detail assessment during the editing process. While a digital projector can be used for reviewing the final production, it may not provide the same level of precision as a dedicated editing monitor. A camera in LCD view would not be an output device, as it is used for capturing footage rather than displaying it.
For post-production editing, the most appropriate output device is a monitor. Monitors provide accurate color representation and high resolution, which are essential for making precise adjustments during the editing process. Digital projectors and LCD view cameras are not as suitable due to their lower image quality and color accuracy.
to learn more about Digital projectors click here:
brainly.com/question/19486217
#SPJ11
For the next fiscal year, you forecast net income of $50,000 and ending assests of $500,000. Your firm's payout ratio is 10%. Your beginning stockholders equity is $300,000 and your beginning total liabilities are $120,000. Your non-debt liabilites such as accounts payable are forecasted to increase by $10,000. What is you net new financing needed for next year?
Here is your helpful hint for the week: ( from professor)
Additions to equity = net income x retention ratio= 50,000 x (1-.10) = 45,000
Show all work
the net new financing needed for next year is $370,000.
To calculate the net new financing needed for next year, we need to first calculate the total assets and total liabilities for the next year, and then subtract the total assets from the total liabilities to get the net financing needed.
Beginning stockholders equity = $300,000
Beginning total liabilities = $120,000
Non-debt liabilities forecasted to increase by $10,000
Ending stockholders equity = Beginning stockholders equity + Additions to equity
Additions to equity = net income x retention ratio
Retention ratio = 1 - payout ratio = 1 - 0.10 = 0.90
Additions to equity = $50,000 x 0.90 = $45,000
Ending stockholders equity = $300,000 + $45,000 = $345,000
Total assets for the next year = Ending assets forecasted = $500,000
Total liabilities for the next year = Beginning total liabilities + Non-debt liabilities forecasted to increase = $120,000 + $10,000 = $130,000
Net new financing needed for next year = Total assets - Total liabilities
Net new financing needed for next year = $500,000 - $130,000 = $370,000
Learn more about liabilities here:
https://brainly.com/question/18484315
#SPJ11
Suppose that we observe the following change in the international market for USD: p USD Si S2 D Q In this case, what wopuld we expect to happen to the price of CAD if the CAD-USD exchange rate was flexible? The CAD woul depreciate. O The CAD woul appreciate.
The correct answer is: It is not possible to determine whether the CAD would appreciate or depreciate without additional information about the changes in the market for USD.
Based on the given information, we can see that there has been a decrease in the supply of USD (from S1 to S2) which has led to an increase in its price (from p to p USD). Assuming that the CAD-USD exchange rate is flexible, this change in the international market for USD would likely cause the CAD to depreciate. This is because the increase in the price of USD would make it more expensive for Canadians to purchase goods and services from the US, leading to a decrease in demand for the CAD and a subsequent depreciation of its value.
To know more about supply , visit:
https://brainly.com/question/29993574
#SPJ11
TRUE OR FALSE the closing process helps in measuring each period's net income separately from all other periods.
The given statement "the closing process helps in measuring each period's net income separately from all other periods" is TRUE.
The closing process involves closing temporary accounts such as revenue and expense accounts at the end of an accounting period. This allows for the measurement of each period's net income separately from all other periods, which is useful for financial analysis and decision-making.
This is achieved by transferring temporary account balances, such as revenues and expenses, to the permanent equity accounts at the end of each accounting period. This resets the temporary accounts to zero, allowing for the accurate measurement of net income in the subsequent period.
Thus, the closing process helps in measuring each period's net income separately from all other periods.
To know more about net income click here:
https://brainly.com/question/20938437
#SPJ11
the capacity of the stadium for the local baseball team, the uretown yokels, is fixed. what does this mean about the price of tickets? group of answer choices they are mainly determined by supply.
The fixed capacity of the stadium for the local baseball team means that the number of available seats is limited and cannot be increased or decreased. This means that the price is mainly determined by the supply of tickets available.
However, the price of tickets can also be influenced by the demand for them. If the demand for tickets is high, the price of tickets will tend to rise, as the supply is limited and people are willing to pay more to secure a seat.
Conversely, if the demand for tickets is low, the price of tickets may fall as the supply of available seats outstrips demand. Therefore, the price of tickets is determined by a combination of both demand and supply, with supply being the primary factor due to the fixed capacity of the stadium.
In summary, the fixed capacity of the stadium for the Uretown Yokels means that the price of tickets is mainly determined by the supply of tickets available, although the demand for tickets can also influence the price.
To know more about price refer here:
https://brainly.com/question/29976014#
#SPJ11
Complete Question:
The capacity of the stadium for the local baseball team, the Uretown Yokels, is fixed. What does this mean about the price of tickets?
A. They are determined entirely by demand.
B. They are determined entirely by supply.
C. They are determined by a combination of demand and supply.
D. They are mainly determined by supply.
The capacity of the stadium for the local baseball team, the Uretown Yokels, is fixed.
This means that the number of seats available for fans to attend games is limited and cannot be increased or decreased. In this situation, the price of tickets is mainly determined by supply.
Since the supply of tickets is fixed and cannot be changed, it is crucial to understand how this affects the price.
The demand for tickets will vary based on factors such as the team's performance, popularity, and the overall interest in attending the games. When demand is high and exceeds the fixed supply,
the price of tickets will likely increase. Conversely, when demand is low and does not meet the fixed supply, the price of tickets may decrease.
In summary, the fixed capacity of the stadium for the Uretown Yokels means that the price of tickets is primarily influenced by the supply, which is limited by the stadium's capacity.
As a result, the fluctuating demand for tickets will cause the prices to either increase or decrease, depending on the level of interest in attending the games.
To know more about Uretown Yokelsrefer here
https://brainly.com/question/2050604#
#SPJ11
with respect to the three criteria used to determine whether revenue on a long-term contract is recognized over time [i.e., (1) customer consumes services while performed, (2) customer controls asset as it is created, and (3) asset has no alternative use], revenue is recognized over time if: multiple choice question. all three criteria are satisfied any one of three criteria is satisfied two of the three criteria are satisfied
In accounting, revenue recognition on long-term contracts is determined based on three criteria.
The criteria for revenue recognition on long-term contractsThe first criterion is when the customer consumes services while they are performed. This means that revenue can be recognized over time as the services are being provided.
The second criterion is when the customer controls the asset as it is created.
In this case, revenue can be recognized over time as the customer takes control of the asset being created.
The third criterion is when the asset has no alternative use. If the asset being created has no alternative use, revenue can be recognized over time as it is being created.
Based on these criteria, revenue can be recognized over time if any one of the three criteria is satisfied, but it is preferred that all three criteria are satisfied before revenue recognition is made.
Learn more about revenue recognition at
https://brainly.com/question/30159425
#SPJ11
A "strategic move" is: A. any strategy choice in a game. B. any strategy choice in a sequential game. C. any strategy choice consistent with Nash equilibrium. D. a strategy choice that influences the subsequent strategy choice of another player.
The correct answer is D. a strategy choice that influences the subsequent strategy choice of another player.
A "strategic move" is a strategy choice that influences the subsequent strategy choice of another player. It is a move that takes into consideration not only the immediate outcome but also the potential reaction of other players in the game. Strategic moves are often used in game theory and are designed to create an advantage by anticipating and influencing the actions of other players. This type of move is often used in competitive settings, such as in business or politics, where players are constantly trying to outmaneuver their opponents to gain an advantage.
Learn more about influences here:
https://brainly.com/question/31375374
#SPJ11
cliff has been working at an after-school job so that he can buy a car. he is very careful with his money. when his mother offers to buy him a new laptop, however, he asks for one of the most expensive models on the market. after all, the costs of buying a new laptop have been:
However, he asks for one of the most expensive models on the market. after all, the costs of buying a new laptop have been externalized
Why is this so?Cliff could have been accumulating funds for an extended period towards only purchasing a car, as he is determined to make the purchase happen. Regrettably, it doesn't seem like a laptop was a top priority for him; accordingly, fiscal responsibility may not have been reflected in his purchases.
Nevertheless, Cliff might be drawn to beneficial specifications or features unique to pertinent models of laptops available on the market that would enhance his academic work proficiency or productivity at his job—an expenditure worth considering.
To conclude, we all have distinct priorities and encompass different values with respect to our spending habits. It remains solely at every individual's discretion to base their monetary resolutions upon fulfilling themselves and aim to fulfill their personal objectives.
Read more about costs here:
https://brainly.com/question/28147009
#SPJ1
Thomas Eisensee and David Stromberg wanted to measure how much news coverage of a foreign disaster impacted the amount of disaster relief provided by the U.S. government.
They argue that the simple relationship would be biased.
Let X = Minutes of News Coverage and Y= Disaster Aid. Choose a variable X2 that could bias the simple relationship. This variable should impact the amount of coverage and impact the amount of aid for reasons other than purely news coverage.
Eisensee and Stromberg introduce an instrument Z = During the Olympics. Explain how Z could satisfy the relevant and exogenous criteria.
Explain how you could use Z to estimate the impact of X on Y free from X2 bias. Hint: you should mention two stages.
In the study conducted by Thomas Eisensee and David Stromberg, they investigated the impact of news coverage (X) on disaster aid (Y) provided by the U.S. government. To address potential bias, they considered the possibility of a confounding variable (X2) that affects both news coverage and disaster aid.
A potential confounding variable (X2) could be the severity of the disaster. Severe disasters might receive more news coverage and more aid from the government due to their devastating effects.
Eisensee and Stromberg introduced an instrumental variable (Z), which is the occurrence of the disaster during the Olympics. This instrument is relevant because it affects news coverage (X) - disasters that occur during the Olympics might receive less coverage due to competing news stories. It is exogenous as it is unrelated to the amount of disaster aid (Y) provided by the government or the severity of the disaster (X2).
To estimate the impact of X on Y without the bias from X2, they used a two-stage process:
1. In the first stage, they regressed the minutes of news coverage (X) on the instrument (Z) to estimate the effect of Z on X. This allowed them to identify how the Olympics influenced news coverage.
2. In the second stage, they used the predicted values of X from the first stage and regressed disaster aid (Y) on these predicted values. This helped estimate the effect of news coverage on disaster aid, without the confounding influence of the severity of the disaster (X2).
By using this two-stage process with the instrumental variable Z, Eisensee and Stromberg could estimate the unbiased impact of news coverage (X) on disaster aid (Y) provided by the U.S. government.
Learn more about disaster here:
https://brainly.com/question/31364849
#SPJ11
jake receives a promotion at his law firm after winning an important case. this is an example of a: group of answer choices
Jake's promotion at his law firm is an example of a reward.
A reward is something given or received in recognition of one's efforts, achievements, or contributions. In this case, Jake's promotion was given to him as a recognition of his success in winning an important case. Rewards can take various forms such as monetary compensation, a promotion, a trophy, or a certificate.
They are often used to motivate individuals to perform better and to retain top performers within an organization. Rewards can also boost morale and create a sense of appreciation and satisfaction among employees.
When given appropriately and fairly, rewards can help create a positive work environment, encourage productivity, and improve overall organizational performance.
For more questions like Organization click the link below:
https://brainly.com/question/29694317
#SPJ11
Blue Spruce Company produces one product, a putter called GO-Putter. Blue Spruce uses a standard cost system and
determines that it should take one hour of direct labor to produce one GO-Putter. The normal production capacity for this putter
is 82,000 units per year. The total budgeted overhead at normal capacity is $697,000 comprised of $205,000 of variable costs and $492,000 of fixed costs. Blue Spruce applies overhead on the basis of direct labor hours.
During the current year, Blue Spruce produced 77,900 putters, worked 77,100 direct labor hours, and incurred variableoverhead costs of $209,900 and fixed overhead costs of $492,000.
a.Compute the predetermined variable overhead rate and the predetermined fixed overhead rate. (Round answers to 2 decimal places, e.g. 2.75.)
b.Compute the applied overhead for Blue Spruce for the year.
For question a. Predetermined fixed overhead rate will be $6.00 per direct labor hour. For question b: the applied overhead for Blue Spruce for the year is $655,350.
a. To determine the predetermined variable overhead rate, we divide the budgeted variable overhead costs by the budgeted direct labor hours at normal capacity:
Predetermined variable overhead rate = Budgeted variable overhead costs / Budgeted direct labor hours
Predetermined variable overhead rate = $205,000 / 82,000 hours
Predetermined variable overhead rate = $2.50 per direct labor hour
To determine the predetermined fixed overhead rate, we divide the budgeted fixed overhead costs by the budgeted direct labor hours at normal capacity:
Predetermined fixed overhead rate = Budgeted fixed overhead costs / Budgeted direct labor hours
Predetermined fixed overhead rate = $492,000 / 82,000 hours
Predetermined fixed overhead rate = $6.00 per direct labor hour
b. To compute the applied overhead, we need to multiply the actual direct labor hours worked by the predetermined overhead rates:
Applied variable overhead = Actual direct labor hours worked x Predetermined variable overhead rate
Applied variable overhead = 77,100 hours x $2.50 per hour
Applied variable overhead = $192,750
Applied fixed overhead = Actual direct labor hours worked x Predetermined fixed overhead rate
Applied fixed overhead = 77,100 hours x $6.00 per hour
Applied fixed overhead = $462,600
Applied overhead = Applied variable overhead + Applied fixed overhead
Applied overhead = $192,750 + $462,600
Applied overhead = $655,350
Therefore, the applied overhead for Blue Spruce for the year is $655,350.
Learn more about fixed overhead rate here:
https://brainly.com/question/15873861
#SPJ11
You were recently appointed as the group financial accountant of the Strawberry Ltd group ofcompanies. The accountants of the various companies in the group finalised the trial balances ofthe individual companies and handed them to you for preparation of the consolidated financialstatements for publication.The financial year-end of the group is 31 March 2021. The summarised trial balances are as follows:
Specific rules and regulations regarding the authentication of financial statements are provided by the Companies Act of 1994. The authentication was carried out correctly in accordance with the Companies Act of 1994.
To ensure the authenticity and correctness of financial statements, it is crucial to abide by the precise norms and regulations set forth in the Companies Act of 1994 regulating the authentication of financial statements.
According to the Companies Act of 1994, the following actions must be taken in order to authenticate.
The statement of financial position and profit or loss account. The Companies Act of 1994 and any other applicable laws and regulations must be followed in preparing the statement of financial position and profit or loss account. The statement of financial status and profit or loss account must be signed by the company's two directors and chief accountant.The statement of financial position and profit or loss account must be an accurate and fair portrayal of the company's financial situation and performance.
Complete question:
You were recently appointed as the group financial accountant of the Strawberry Ltd group of companies. The accountants of the various companies in the group finalised the trial balances ofthe individual companies and handed them to you for preparation of the consolidated financialstatements for publication.The financial year-end of the group is 31 March 2021. The summarised trial balances are as follows?
To know more about Authentication visit:
https://brainly.com/question/31467239
#SPJ4
Daniel Hamermesh and Stephen Donald studied the determinants of the earnings of college graduates years after they graduated. Which of the following is one result of their study? A) Students who took more Advanced Placement (AP) courses while still in high school earned significantly more income for each AP course they passed with a grade of 4 or 5. students. students who took no college economics courses. earned high grades in these courses earned about 10 percent more than students who took no B) The earnings of identical twins were about 9 percent higher than the earnings of all other C) Students who took at least three economics courses earned about 9 percent more income than D) Students who had taken 15 credits of upper-division science and mathematics courses and upper-division classes in these subjects.
One result of the study by Daniel Hamermesh and Stephen Donald on the determinants of earnings of college graduates is that students who took at least three economics courses earned about 9 percent more income than those who took no college economics courses.
This suggests that studying economics can be beneficial in terms of earning potential in the labor market. The study also found that students who had taken 15 credits of upper-division science and mathematics courses and upper-division classes in these subjects had higher earnings.
However, it's important to note that the study only shows correlation and not causation, and other factors could be at play in determining earnings.
It is interesting to note that the study did not find a significant correlation between the number of AP courses taken in high school and earnings. This suggests that while advanced courses in high school may be helpful for college admission and preparation, they may not have as much impact on earning potential in the long run.
Overall, the study provides insights into the factors that can influence earnings of college graduates, and highlights the potential benefits of studying certain subjects in college.
To know more about earnings of college refer here:
https://brainly.com/question/18371346#
#SPJ11
for a firm in the competitive market, marginal revenue is always equal to responses a total profit.total profit. b marginal cost.marginal cost. c total revenue.total revenue. d output price.
For a firm in the competitive market, marginal revenue is always equal to the output price.
In a perfectly competitive market, a firm is a price taker, meaning it has no control over the market price and must accept the prevailing price for its output.
This means that the price the firm receives for each additional unit of output sold, or the marginal revenue, is equal to the output price.
Marginal cost is the additional cost of producing one more unit of output, and while it does play a role in a firm's production decisions, it is not always equal to marginal revenue.
Total revenue is the total amount of money a firm receives from selling its output, and total profit is the difference between total revenue and total cost.
While these measures are important for assessing a firm's financial performance, they are not directly related to marginal revenue in a perfectly competitive market.
To know more about output price refer here
brainly.com/question/29663897#
#SPJ11
Reasonable assurance is : based on what a typical investor would consider to be reasonable a high, but not absolute level of assurance an absolute level of assurance
Reasonable assurance is a term used in auditing that refers to the level of confidence that an auditor has in the financial statements of a company.
It is based on what a typical investor would consider reasonable, meaning that the auditor has performed sufficient testing and obtained enough evidence to provide a high, but not the absolute level of assurance. This means that while the auditor has done everything possible to ensure that the financial statements are free from material misstatement, there is still a small chance that some errors or fraud may have gone undetected.
Therefore, reasonable assurance is not the same as an absolute level of assurance, which would be impossible to achieve in practice. Instead, it represents a realistic and practical approach to auditing that balances the need for accuracy and reliability with the limitations of time, cost, and available resources.
In summary, reasonable assurance is a detailed answer that describes the level of confidence that an auditor has in the financial statements of a company, based on what a typical investor would consider being reasonable.
Learn more about reasonable assurance:
brainly.com/question/23134612
#SPJ11
1. Explain the role played by price elasticity of demand in the
kinked demand curve model of oligopoly?
2. "OPEC the oil cartel has not been a formidable power in the
oil market as it once was." I
The kinked demand curve model of oligopoly is a theoretical framework used to explain the behavior of firms in an oligopolistic market, where a few large firms dominate the market.
In this model, the demand curve faced by each firm is "kinked" at the current market price level, indicating that the firm's rivals will not follow if it raises its prices, but they will likely match any price reduction. This kinked demand curve is based on the assumption that demand for the firm's product is relatively elastic above the current price level and relatively inelastic below it.
The price elasticity of demand plays a crucial role in the kinked demand curve model of oligopoly. The assumption of relatively elastic demand above the current price level implies that if a firm raises its price, it will lose a significant share of its customers to its rivals. On the other hand, the assumption of relatively inelastic demand below the current price level suggests that if a firm lowers its price, it will not gain many new customers because its rivals will also reduce their prices. Therefore, firms in an oligopolistic market tend to maintain the current price level and avoid price wars that could lead to lower profits for all firms.
Learn more about oligopolistic here:
https://brainly.com/question/14504554
#SPJ11
During the current year, merchandise is sold for $54,100 cash and $81,000 on account. The cost of the merchandise sold is $87,800. What is the amount of the gross profit?
The amount of gross profit is $47,300.
To calculate the gross profit, you need to subtract the cost of merchandise sold from the total sales.
To find the gross profit, we need to first calculate the net sales revenue, which is the total sales minus any returns or discounts. In this case, the total sales are the sum of the cash sales and sales on account:
Total sales = Cash sales + Sales on account
Total sales = $54,100 + $81,000
Total sales = $135,100
To calculate the net sales, we need to subtract any returns or discounts. Since there is no information given regarding returns or discounts, we will assume that there are none. Therefore, the net sales is equal to the total sales, which is $135,100.
Next, we need to calculate the cost of goods sold, which is the cost of the merchandise that was sold during the year. In this case, the cost of goods sold is given as $87,800.
Finally, we can calculate the gross profit by subtracting the cost of goods sold from the net sales:
Gross profit = Net sales - Cost of goods sold
Gross profit = $135,100 - $87,800
Gross profit = $47,300
Therefore, the amount of the gross profit is $47,300.
To learn more about Gross profit refer to:
https://brainly.com/question/18567528
#SPJ11
on the relatively flat part of the aggregate supply (as) curve:
On the relatively flat part of the aggregate supply (AS) curve, changes in aggregate demand (AD) have a relatively small impact on the price level but can significantly affect the level of real output.
On the relatively flat part of the aggregate supply (AS) curve, changes in aggregate demand (AD) have a relatively small impact on the price level but can significantly affect the level of real output. This is because in the short run, firms can increase production without raising prices by utilizing their existing resources more efficiently or hiring additional workers.
However, in the long run, as the economy reaches full employment and resource utilization, any increase in AD will lead to higher prices and a smaller increase in real output. Thus, policymakers can use changes in AD to stimulate economic growth and employment in the short run but must be mindful of the potential inflationary pressures in the long run.
Learn more about aggregate supply:
https://brainly.com/question/1490249
#SPJ11