Answer:
it is a communication that permits people to share their honest opinions even those which have,historically, been difficult to discuss in ways that get ideas out on the table but without offending others
Highgrove Industries must decide which process technology to adopt, given the information below. Cost Technology A Technology B Technology C Price per unit $3 $3 $3 Fixed costs per year $80,000 $120,000 $130,000 Variable costs per unit $2.20 $1.85 $1.65 Which one of the process technologies would you recommend they adopt if the expected demand is 100,000 units
Answer:
Technology C
Explanation:
Total Cost = Fixed Cost + Variable cost * (Number of Units)
Total Cost for Technology A = $80000 + $2.20*(100,000 units)
Total Cost for Technology A = $300,000
Total Cost for Technology B = $120,000 + $1.85*(100,000 units)
Total Cost for Technology B = $305,000
Total Cost for Technology C = $130,000 + $1.65*(100,000 units)
Total Cost for Technology C = $195,000
Conclusion: The minimum total cost for 100,000 Unit is for process technology C, Hence this technology would be recommended
Esquire Clothing is a manufacturer of designer suits. For June 2020, each suit is budgeted to take 4 labor-hours. The budgeted number of suits to be manufactured in June 2020 is 1,040. Esquire Clothing allocates fixed manufacturing overhead to each suit using budgeted direct manufacturing labor-hours per suit. Data pertaining to fixed manufacturing overhead costs for June 2020 are budgeted, $62,400, and actual, $63,916. In June 2020 there were 1,080 suits started and completed. There were no beginning or ending inventories of suits.
Required:
a. Compute the spending variance for fixed manufacturing overhead. Comment on the results.
b. Compute the production-volume variance for June 2017. What inferences can Esquire Clothing draw from this variance?
Answer:
a-1. Fixed overhead spending variance = $1,516 Unfavorable
a-2. The manufacturing was not able to reduce fixed overheads by eliminating inefficiency.
b-1. Production-volume variance = $2,400 Favorable
b-2. It is favrable becausde actual output is higher than budgeted output resulting in over allocation of fixed overhead.
Explanation:
a. Compute the spending variance for fixed manufacturing overhead. Comment on the results.
a-1. Fixed overhead spending variance = Actual fixed overhead – Budgeted fixed overhead = $63,916 - $62,400 = $1,516 Unfavorable
a-2. The fixed overhead spending variance is unfavorable because Actual fixed overhead is higher than Budgeted fixed overhead. The implication of this is that the manufacturing was not able to reduce fixed overheads by eliminating inefficiency.
b. Compute the production-volume variance for June 2017. What inferences can Esquire Clothing draw from this variance?
Allocated fixed overhead = (Budgeted fixed manufacturing overhead costs / Budgeted number of suits) * Actual number of suits = ($62,400 / 1,040) * 1,080 = $64,800
b-1. Production-volume variance = Fixed overhead volume variance = Allocated fixed overhead - Budgeted fixed overhead = $64,800 - $62,400 = $2,400 Favorable
b-2. Fixed overhead volume variance is favorable because the allocated fixed overhead is higher than the budgeted fixed overhead. This indicates that actual output is higher than budgeted output resulting in over allocation of fixed overhead.
Cheyenne Corp. is authorized to issue both preferred and common stock. The par value of the preferred is $50. During the first year of operations, the company had the following events and transactions pertaining to its preferred stock.
Feb. 1 Issued 48,000 shares for cash at $52 per share.
July 1 Issued 66,000 shares for cash at $56 per share.
Required:
Journalize the transactions.
Answer:
Feb. 1
Debit : Cash (48,000 x $52) $2,496,000
Credit : Preferred Stock (48,000 x $50) $2,400,000
Credit : Paid in excess of Par - Preferred Stock $96,000
July 1
Debit : Cash (66,000 x $56) $3,696,000
Credit : Preferred Stock (66,000 x $50) $3,300,000
Credit : Paid in excess of Par - Preferred Stock $396,000
Explanation:
With Par value stocks, any amount paid in excess of par is placed in a reserve - Paid in Excess of Par as shown in the journals above.
Candy or cookies? i want to know
Answer:
Candy
Explanation:
FOLLOW MY ACCOUNT PLS PLS
The Chilton Corporation specializes in manufacturing one type of desk lamp. Chilton allocates variable manufacturing overhead costs on the basis of machine hours. Chilton budgeted 0.5 machine hours per lamp and allocates overhead at a rate of $1.70 per machine hour. Last year Chilton manufactured 20,000 lamps, used 160,000 machine hours and incurred actual overhead costs of $192,000. What was Chilton's variable manufacturing overhead rate variance last year?
a. $24,000 favorable
b. $24,000 unfavorable
c. $210,900 unfavorable
d. $210,900 favorable
Answer:
Variable manufacturing overhead rate variance = 80,000 favorable
Explanation:
Given:
Overhead rate variance = $1.70 per hour
Total machine hour = 160,000 hour
Actual overhead costs = $192,000
Find:
Variable manufacturing overhead rate variance
Computation:
Variable manufacturing overhead rate variance = [Standard overhead rate - Actual overhead rate]Actual hour
Variable manufacturing overhead rate variance =[1.7 - (192,000 / 160,000)]160,000
Variable manufacturing overhead rate variance = [1.7 - (1.2)]160,000
Variable manufacturing overhead rate variance = [0.5]160,000
Variable manufacturing overhead rate variance = 80,000 favorable
The independent cases are listed below includes all balance sheet accounts related to operating activities:
Case A Case B Case C
Net income $314,000 $17,000 $424,000
Depreciation expense 44,000 154,000 84,000
Accounts receivable
increase (decrease) 108,000 (204,000) (24,000)
Inventory increase
(decrease) (54,000) 39,000 54,000
Accounts payable
increase (decrease) (54,000) 124,000 74,000
Accrued liabilities
increase (decrease) 64,000 (224,000 ) (44,000)
Show the operating activities section of cash flows for each of the given cases.
Answer:
Cash Flow from Operating Activities
Case A Case B Case C
Net Income $314,000 $17,000 $424,000
Adjustments to Reconcile Net income to
Net cash provided by Operating Activities
Depreciation $44,000 $154,000 $84,000
Changes in Assets and Liabilities
Accounts Receivable -$108,000 $204,000 $24,000
Inventory $54,000 -$39,000 -$54,000
Accounts Payable -$54,000 $124,000 $74,000
Accrued Liabilities $64,000 -$224,000 -$44,000
Net cash under Operating Activities $0 $236,000 $508,000
The partnership of Hendrick, Mitchum, and Redding has the following account balances: Cash $ 53,000 Liabilities $ 38,000 Noncash assets 138,000 Hendrick, capital 98,000 Mitchum, capital 73,000 Redding, capital (18,000 ) This partnership is being liquidated. Hendrick and Mitchum are each entitled to 40 percent of all profits and losses with the remaining 20 percent going to Redding. What is the maximum amount that Redding might have to contribute to this partnership because of the deficit capital balance
Answer:
$45,600
Explanation:
Particulars Amount
Redding capital $18,000
Potential loss of non-cash Assets (138,000*20%) $27,600
Maximum amount contributed by Redding, Capital $45,600
So, the maximum amount that Redding might have to contribute to this partnership because of the deficit capital balance is $45,600.
For each of the three independent situations below determine the amount of the annual lease payments. Each describes a finance lease in which annual lease payments are payable at the beginning of each year. Each lease agreement contains an option that permits the lessee to acquire the leased asset at an option price that is sufficiently lower than the expected fair value that the exercise of the option appears reasonably certain.
Situation 1 Situation 2 Situation 3
Lease term (years) 5 10 4
Lessor?s rate of return 10% 11% 9%
Fair value of leased asset $62,000 $421,000 $186,000
Lessor?s cost of leased asset $51,000 $421,000 $146,000
Bargain purchase option:
Option price $11,000 $51,000 $23,000
Exercisable at end of the year: 5 5 3
Required:
Determine the annual lease payments for each situation:
Answer:
a. The annual lease payment for Situation 1 is $12,774.47.
b. The annual lease payment for Situation 2 is $71,486.40.
c. The annual lease payment for Situation 3 is $57,412.37.
Explanation:
The annual lease payments can be calculated using the formula for calculating loan amortization as follows:
P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)
Where,
For Situation 1
P = Annual lease payments = ?
A = Fair value of leased asset = $62,000
r = interest rate = Lessor’s rate of return = 10%, or 0.01
n = Number of years of lease term = 5
Substituting all the figures into equation (1), we have:
P = ($62,000 * (0.01 * (1 + 0.01)^5)) / (((1+0.01)^5) - 1)
P = $12,774.47
Therefore, the annual lease payment for Situation 1 is $12,774.47.
For Situation 2
P = Annual lease payments = ?
A = Fair value of leased asset = $421,000
r = interest rate = Lessor’s rate of return = 11%, or 0.11
n = Number of years of lease term = 10
Substituting all the figures into equation (1), we have:
P = ($421,000 * (0.11 * (1 + 0.11)^10)) / (((1 + 0.11)^10) - 1)
P = $71,486.40
Therefore, the annual lease payment for Situation 2 is $71,486.40.
For Situation 3
P = Annual lease payments = ?
A = Fair value of leased asset = $186,000
r = interest rate = Lessor’s rate of return = 9%, or 0.09
n = Number of years of lease term = 4
Substituting all the figures into equation (1), we have:
P = ($186,000 * (0.09 * (1 + 0.09)^4)) / (((1 + 0.09)^4) - 1)
P = $57,412.37
Therefore, the annual lease payment for Situation 3 is $57,412.37.
Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $56,000
Sales tax 5,050
Shipment of machine 810
Insurance on the machine for the first year 510
Installation of machine 1,620
The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.
Required:
Record the above expenditures for the new machine.
Answer:
Debit : Machine $58,430
Debit : Insurance expense $510
Debit : Sales tax $5,050
Credit : Cash $63,990
Being Cost of machine recognized as well as other expenses on the machine
Explanation:
The cost of the machine includes the purchase price plus any costs directly incurred in putting the asset in the location and condition indented by the management.
Cost of Machine is calculated as :
Purchase price $56,000
Shipment of machine $810
Installation of machine $1,620
Total $58,430
Other Costs are recognized as expenses in the income statement and not as part of the asset.
JDog Corporation owns stock in Oscar Inc. valued at $2,000,000 at the beginning of the year and $2,200,000 at year-end. Jdog received a $10,000 dividend from Oscar Inc. What temporary book-tax differences associated with its ownership in Oscar stock will Jdog report for the year in the following alternative scenarios (income difference only-ignore the dividends-received deduction)?
a. JDog owns 5 percent of the Oscar Inc. stock. Oscar's income for the year was $500,000.
b. JDog owns 40 percent of the Oscar Inc. stock. Oscar's income for the year was $500,000.
Answer:
a. The temporary book-tax differences associated with 5 percent ownership in Oscar stock which Jdog will report for the year is $0.
b. The temporary book-tax differences associated with 40 percent ownership in Oscar stock which Jdog will report for the year is $190,000.
Explanation:
a. JDog owns 5 percent of the Oscar Inc. stock. Oscar's income for the year was $500,000
The 5 percent ownership implies that JDog has to report $10,000 in book income, and also report $10,000 in gross income. Therefore, we have:
Temporary book difference = Amount to report in book income – Amount to report in gross income = $10,000 - $10,000 = $0
Therefore, the temporary book-tax differences associated with 5 percent ownership in Oscar stock which Jdog will report for the year is $0.
b. JDog owns 40 percent of the Oscar Inc. stock. Oscar's income for the year was $500,000.
The 40 percent ownership implies that:
Amount to report in book income = $40% * $500,000 = $200,000
Amount to report in gross income = $10,000
Temporary book difference = Amount to report in book income – Amount to report in gross income = $200,000 - $10,000 = $190,000
Therefore, the temporary book-tax differences associated with 40 percent ownership in Oscar stock which Jdog will report for the year is $190,000.
what is human resource managment
Explanation:
Human resource management, or HRM, is defined as the process of managing employees in a company and it can involve hiring, firing, training and motivating employees.
An example of human resource management is the way in which a company hires new employees and trains those new workers.
noun
27
3
Answer:Human aid management is the strategic approach to the powerful management of people in a agency or corporation such that they assist their business gain a competitive benefit. it's far designed to maximise employee overall performance in provider of an corporation's strategic targets.
Explanation:
contribution marginJayleen Company makes two products: Carpet Kleen and Floor Deodorizer. Operating information from the previous year follows. Carpet Kleen Floor Deodorizer Units produced and sold 5,000 4,000 Machine hours used 5,000 2,000 Sales price per unit $ 7 $ 10 Variable cost per unit $ 4 $ 8 Fixed costs of $20,000 per year are presently allocated equally between both products. If the product mix were to change, total fixed costs would remain the same. The contribution margin per machine hour for Floor Deodorizer is:
Answer:
Contribution per machine hour = $4 per machine hour
Explanation:
The contribution per machine is the total contribution made divided by the total machine hours consumed.
Contribution per machine hour = Total contribution/Total machine hours
The total contribution made = Unit contribution × unit sold
unit contribution = selling price - variable cost
= 10-8= $2 per unit
Total contribution = $2× 4,000= $8,000
Total machine hour = 2,000
Contribution per machine hour= 8,000/2,000 = $4 per machine hour
Contribution per machine hour = $4 per machine hour
One of the defining characteristics of a matrix organizational structure is that it overlays two organizational structures in order to leverage the benefits of both. is the only structure that organizes employees around specific knowledge or other resources. uses self-directed work teams rather than individuals as the basic building block of organizations. is an alliance of several organizations for the purpose of creating a product or serving a client.
Answer:
overlays two organizational structures in order to leverage the benefits of both.
Explanation:
An organizational structure can be defined as the process which typically involves dividing an organization into various functional units.
Basically, the organizational structure comprises of three (3) main dimensions and these are;
I. The vertical dimension: this is typically the decision-making responsibilities (decentralization and centralization).
II. The horizontal dimension: this divides the organization into subunits.
III. Integrating mechanisms: it is based typically on the strategic mechanism that controls the various subunits within an organization.
A functional (departmental) organizational structure is a type of structure used to organize staffs by dividing them into various departments based on their skill set, roles or functions and knowledge.
These departments which are vertically structured may include, finance, IT, sales and marketing, research and development, customer service etc. Also, the various departments are headed by a functional manager who are saddled with the responsibility of overseeing, managing and reporting to the executive management.
A matrix organizational structure is a type work structure where reporting relationships between employees are set up as a matrix rather than the conventional hierarchy approach. This simply means, there are two (2) chains of command; employees have dual reporting relationships to both a project and functional manager.
The matrix organizational structure can be classified into three (3) categories, these are;
1. Weak matrix structure.
2. Balanced matrix structure.
3. Strong matrix structure.
One of the defining characteristics of a matrix organizational structure is that it overlays two organizational structures in order to leverage the benefits of both.
Overhead Application, Activity-Based Costing, Bid Prices Firenza Company manufactures specialty tools to customer order. Budgeted overhead for the coming year is:
Purchasing $40,000
Setups 37,500
Engineering 50,000
Other 40,000
Previously, Sanjay Bhatt, Firenza Company's controller, had applied overhead on the basis of machine hours. Expected machine hours for the coming year are 50,000. Sanjay has been reading about activity-based costing, and he wonders whether or not it might offer some advantages to his company. He decided that appropriate drivers for overhead activities are purchase orders for purchasing, number of setups for setup cost, engineering hours for engineering cost, and machine hours for other. Budgeted amounts for these drivers are 5,000 purchase orders, 500 setups, and 2,500 engineering hours. Sanjay has been asked to prepare bids for two jobs with the following information:
Job 1 Job 2
Direct materials $4,600 $9,340
Direct labor $1,200 $2,200
Number of purchase orders 15 20
Number of setups 3 4
Number of engineering hours 45 10
Number of machine hours 200 200
The typical bid price includes a 40 percent markup over full manufacturing cost.
Required:
1. Calculate a plantwide rate for Firenza Company based on machine hours.
2. Calculate activity rates for the four overhead activities. What is the bid price of each job using these rates?
3. Which bids are more accurate?
Answer:
Firenza Company
1. Plantwide overhead rate based on machine hours = $3.35
2. Overhead Rates:
Purchasing $8 per purchase order
Setups $75 per setup
Engineering $20 per engineering hour
Other $8 per machine hour
Plantwide rate ABC rates
Bid prices
Job 1 $6,470 $12,103
Job 2 $12,210 $19,320
3. The bids based on ABC rates are more accurate.
Explanation:
a) Data and Calculations:
Budgeted overhead for the coming year is:
Purchasing $40,000
Setups 37,500
Engineering 50,000
Other 40,000
Total overhead $167,500
Expected machine hours = 50,000
Plantwide overhead rate based on machine hours = $3.35 ($167,500/50,000)
Overhead Usage / Cost Driver Overhead Rates
Purchasing $40,000 5,000 purchase orders $8/purchase order
Setups 37,500 500 setups $75/ setup
Engineering 50,000 2,500 engineering hours $20/eng. hour
Other 40,000 5,000 machine hours $8 /machine hour
Job Costing based on Plantwide rate:
Job 1 Job 2
Direct materials $4,600 $9,340
Direct labor 1,200 2,200
Overhead costs: 670 670
Total production costs $6,470 $12,210
Job Costing based on ABC rates:
Job 1 Job 2
Direct materials $4,600 $9,340
Direct labor $1,200 $2,200
Overhead costs: $2,845 $2,260
Total costs of production $8,645 $13,800
Markup (40%) $3,458 $5,520
Selling price $12,103 $19,320
Number of purchase orders $120 (15*$8) $160 (20*$8)
Number of setups 225 (3*$75) 300 (4*$75)
Number of engineering hours 900 (45*$20) 200 (10*$20)
Number of machine hours 1,600 (200*$8) 1,600 (200*$8)
Overhead costs: $2,845 $2,260
In its most recent annual report, Appalachian Beverages reported current assets of $54,000 and a current ratio of 1.80. Assume that the following transactions were completed: (1) purchased merchandise for $6,000 on account, and (2) purchased a delivery truck for $10,000, paying $1,000 cash and signing a two-year promissory note for the balance.
Compute the updated current ratio (round answers to 2 decimal places)
Transaction (1) ________________
Transaction (2) ________________
Answer:
Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67
Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64
Explanation:
The current ratio is a measure of liquidity which measures the amount of current assets a business has to pay off each $1 of current liability. It is calculated as follows,
Current Ratio = Current Assets / Current Liabilities
We know the initial current ratio and current assets. The initial current liabilities will be,
1.8 = 54000 / Current Liabilities
Current Liabilities = 54000 / 1.8
Current Liabilities = $30000
Transaction 1
The result of transaction 1 will be that the current assets will increase by $6000 as inventory increases and the current liabilities will also increase by $6000 as accounts payable are increasing. The new current ratio will be,
Current Ratio - Transaction 1 = (54000 + 6000) / (30000 + 6000)
Current Ratio - Transaction 1 = 1.6666 rounded off to 1.67
Transaction 2
The result of transaction 2 will be that the current assets will decrease by $1000 as payment for truck which is a fixed asset is made partly by cash and the current liabilities will not increase as the note signed for the remaining payment of the truck is due after 2 years thus it is a non current liability. The new current ratio will be,
Current Ratio - Transaction 2 = (54000 + 6000 -1000) / (30000 + 6000)
Current Ratio - Transaction 2 = 1.6388 rounded off to 1.64
Should a room attendant share information with others about a guest if he/she thinks what the guest is doing is morally wrong?
Answer:
No, a room attendant should not share information with others about a guest if he/she thinks what the guest is doing is morally wrong.
Explanation:
Morality is a subjective issue. Even at that, what may be morally wrong can still be legal. Hence, there is no reason for a room attendant to share information with others about a guest if he/she thinks what the guest is doing is morally wrong.
For example, smoking shisha or drinking alcohol may be morally wrong to a room attendant, but it is legal for the guest to do in a guest house or hotel, hence the guest is within his rights to do so. Therefore, there is no need for a room attendant to inform others in as much it is legal.
Cedric Company recently traded in an older model computer for a new model. The old model's book value was $140,000 (original cost of $370,000 less $230,000 in accumulated depreciation) and its fair value was $210,000. Cedric paid $65,000 to complete the exchange, which has commercial substance.
Calculate the following values:
1. Amount to debit for new equipment
2. Amount to debit accumulated depreciation
3. Amount to credit to cash
4. Amount to credit for old equipment
5. Gain or loss on sale
Answer:
1. $210,000
2.$230,000
3. $65,000
4. $370,000
5. $135,000 loss
Explanation:
1. Amount to debit for new equipment
Use the Fair Value of Asset given
2. Amount to debit accumulated depreciation
Use the accumulated depreciation of asset given up.
3. Amount to credit to cash
Use the Cash Paid up
4. Amount to credit for old equipment
Use the cost of asset given up
5. Gain or loss on sale
Gain or loss = Carrying Amount - Fair Value - Cash traded up
Exercise 10-3 Lump-sum purchase of plant assets LO C1 Rodriguez Company pays $410,670 for real estate with land, land improvements, and a building. Land is appraised at $234,000; land improvements are appraised at $52,000; and a building is appraised at $234,000. Required: 1. Allocate the total cost among the three assets. 2. Prepare the journal entry to record the purchase.
Answer:
1. Allocation of Appraised % of total Total cost Apportioned
Total Cost Value appraised value of acquisition Cost
Land $234,000 45% $410,670 $184,801.50
Land $52,000 10% $410,670 $41,067
Improvements
Building $234,000 45% $410,670 $184,801.50
Total $520,000 100% $410,670
2. Date Accounts title and explanation Debit Credit
Land $184,801.50
Land Improvements $41,067
Building $184,801.50
Cash $410,670
(Lump-sum purchases recorded)
CHRO Conversations: SVP of HR Tim Richmond, AbbVie
People will work harder if they know their results are noticed and rewarded appropriately. At AbbVie, the Human Resources area places special emphasis on rewarding employees based on levels of contributions. This activity is important because it will examine how one company utilizes talent philosophies that differentiate rewards based on employee results.
The goal of this activity is to help you recognize how strategic goals of a company can be supported by HR activities that reward and recognize employees who produce at high levels. These rewards go well beyond salary and include opportunities for career growth and development.
At AbbVie, people want to know their ________ and results will be rewarded appropriately.
a) hard work
b) time off
c) verbal communication
d) philosophical ideals
At AbbVie, HR tends to think of "more and better and now" as it relates to career opportunities, human capital capabilities, and raising the bar on a continual basis for:__________
a) career growth.
b) higher salaries.
c) better benefits.
d) higher quantity outputs.
e) higher quality outputs.
The "talent philosophy" at AbbVie includes differentiating levels of:________
a) development and hiring.
b) performance and rewards.
c) rewards and terminations.
d) performance and hiring.
e) development and global travel.
AbbVie has a standard in hiring of "replacing every person who leaves with someone":________
a) younger.
b) with a college degree.
c) who has more experience.
d) better.
e) from another country.
AbbVie does not want to pay its ________ performers the same as it pays its higher performers.
a) older
b) more experienced
c) lower
d) international
e) specialized
Answer:
1. a) hard work
2. e) higher quality outputs
3. b) Performance and rewards
4. d) better
5. c) lower
Explanation:
AbbVie Human resource is mostly concerned with the performance of their employees and rewarding them according to their capabilities. The employees who perform better and completes their tasks within given time are rewarded more than those employees who fail to perform better.
The Human Resource department is an aspect of government that manages the people that work in the organization. The following answers to the prompts about the Human Resources at an organization called AbbVie have been indicated below;
At AbbVie, people want to know their (A. Hardwork) and results will be rewarded appropriately.At AbbVie, HR tends to think of "more and better and now" as it relates to career opportunities, human capital capabilities, and raising the bar on a continual basis for (A. career growth).The "talent philosophy" at AbbVie includes differentiating levels of (B. performance and rewards).AbbVie has a standard in hiring of "replacing every person who leaves with someone" (D. better).AbbVie does not want to pay its (C. lower) performers the same as it pays its higher performers
The excerpt above shows the policies that the Human Resource department of an organization has taken to move the system forward. They have resolved to reward only the top performers.
This will motivate the staff that are not doing well to get better at their jobs.
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Answer:
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Explanation:
Suppose Germany, a large country, imposes a tariff on tuna imports. Before the tariff, all the countries in the world are engaged in free trade in tuna. Explain why.
(1). The German consumers pay a higher price for tuna.
(2). The German producers receive a higher price for tuna.
(3). The world price of tuna increases.
(4). The tariff makes Vietnam, a tuna exporting country, worse off.
(5). Vietnamese tuna consumers suffer because of the tariff.
Answer:
1. This is true.
The Germans will pay a higher price for tuna because the tariff will increase the price of imported tuna and the reduction in completion with the local producers will lead to higher prices as the local producers take up their price.
2. This is true.
German producers no longer have to compete as much with imported tuna which was cheaper. They will therefore be able to raise their prices.
3. This statement is false.
The world price of Tuna DOES NOT increase because the tariff is only applicable in Germany. Other parts of the world will trade tuna as before. This is what is assumed.
4. This statement is true.
If Vietnam was exporting tuna to Germany, they will become worse off because they will see a decline in demand for their tuna on account of the tariffs making the tuna more expensive.
5. This is false.
Vietnamese tuna consumers will still pay the same price to get tuna because Vietnam produces the tuna. It is Vietnam's producers that will suffer not the consumers.
Determine aggregate expenditures (AE) in this economy when real GDP (Y) is equal to $1,500 billion, $2,000 billion, and $2,500 billion.
When Y = $1,500 billion, AE =
billion.
When Y = $2,000 billion, AE =
billion
When Y = $2.500 billion, AE =
billion.
Answer:
a) When Y = $1,500 billion, AE =$1050 billion
b)When Y = $2,000 billion, AE = $1400 billion
c) When Y = $2.500 billion, AE =$1750 billion
Explanation:
As we know,
Yd = Y- T
Y = national income (or GDP)
T = Tax Revenues = 0.3Y
a) When Y = $1,500 billion, AE = $1,500 -0.3*$1,500 = $1050 billion
b) When Y = $2,000 billion, AE =$2,000 - 0.3*$2,000 = $1400 billion
c) When Y = $2.500 billion, AE = $2.500 - 0.3 * $2.500 = $1750 billion
Assuming the economy to operate in equilibrium, the aggregate expenditure model explains that GDP is equal to the Aggregate expenditure. Therefore, the solutions are:
Y = $1,500 billion, AE = $1,500 billion.Y = $2,000 billion, AE = $2,000 billion.Y = $2,500 billion, AE = $2,500 billion.What is the aggregate expenditure model?The aggregate expenditure model explains the relationship between GDP and planned spending. The model states that:
[tex]\rm GDP = Planned \:spendings[/tex]
Therefore the Aggregate expenditure for the real GPDs is:
Y = $1,500 billion, AE = $1,500 billion.Y = $2,000 billion, AE = $2,000 billion.Y = $2,500 billion, AE = $2,500 billion.Learn more about the aggregate expenditure model here:
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Bill Smith is evaluating the performance of four large-cap equity portfolios: Funds A, B, C, and D. As part of his analysis, Smith computed the Sharpe ratio and the Treynor's measure for all four funds. Based on his finding, the ranks assigned to the four funds are as follows: Fund Treynor Measure Rank Sharpe Ratio Rank A 1 4 B 2 3 C 3 2 D 4 1 The difference in rankings for Funds A and D is most likely due to:
Question Completion with Options:
a. A lack of diversification in fund A as compared to fund D.
b. Different benchmarks used to evaluate each fund’s performance.
c. A difference in risk premiums.
Answer:
The difference in rankings for Funds A and D is most likely due to:
a. A lack of diversification in fund A as compared to fund D.
Explanation:
a) Data and Calculations:
Fund Treynor Measure Rank Sharpe Ratio Rank
A 1 4
B 2 3
C 3 2
D 4 1
b) The Sharpe ratio and the Treynor measure are two financial performance ratios that measure the risk-adjusted rate of return of an investment. Specifically, the Sharpe ratio helps investors to understand an investment's return profile when compared to its risk profile. On the other hand, the Treynor ratio measures the excess return generated for portfolio risk per unit.
In conclusion, the Sharpe ratio appears to be a better measure with a portfolio that is not properly diversified, while the Treynor ratio works better with a well-diversified portfolio.
Fiat money has value based on:
O A. the role it plays in traditional religious ceremonies.
O B. the type of material that was used to make it.
O C. a government declaring that it is a legal currency.
O D. an agreement that it can be exchanged for something else.
Answer:
D.an agreement that it can be exchanged for something else.
Explanation:
The value is given thanks to the people who trust the group or gov. that is emmiting this money.
Speed World Cycles sells high-performance motorcycles and motocross racers. One of Speed World’s most popular models is the Kazomma 900 dirt bike. During the current year, Speed World Cycles purchased eight of these bikes at the following costs.
Purchase Date Units Purchased Unit Cost Total Cost
July 1 2 $ 4,950 $ 9,900
July 22 3 5,000 15,000
Aug. 3 3 5,100 15,300
8 $ 40,200
On July 28, Speed World Cycles sold four Kazomma 900 dirt bikes to the Vince Wilson racing team. The remaining four bikes remained in inventory at September 30, the end of Speed World’s fiscal year.
Assume that Speed World Cycles uses a perpetual inventory system. (See the data provided.)
Required:
a-1. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using Average cost.
a-2. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using FIFO method.
a-3. Compute the cost of goods sold relating to the sale on July 28 and the ending inventory of Kazomma 900 dirt bikes at September 30, using LIFO method.
b-1. Which of the three cost flow assumptions will result in Speed World Cycles reporting the highest net income for the current year?
b-2. Which of the three cost flow assumptions minimizes the income taxes owed by Speed World Cycles for the year?
b-3. May Speed World Cycles use the cost flow assumption that results in the highest net income for the current year in its financial statements, but use the cost flow assumption that minimizes taxable income for the current year in its income tax return?
Answer:
Speed World Cycles
a. Average Cost FIFO LIFO
Cost of goods sold $20,100 $19,900 $20,300
Ending inventory $20,100 $20,300 $19,900
b-1. FIFO will result in Speed World Cycles reporting the highest net income for the current year, because of the reduced cost of goods sold.
b-2. LIFO minimizes the income taxes owed by Speed World Cycles for the year, because it reduces the income before taxes.
b-3. Yes. However, the cost flow assumptions self-correct in later years, by which time it is not allowed to be jumping from one cost flow assumption to another.
Explanation:
a) Data and Calculations:
Purchase Date Units Purchased Unit Cost Total Cost
July 1 2 $ 4,950 $ 9,900
July 22 3 5,000 15,000
Aug. 3 3 5,100 15,300
Total 8 $ 40,200
July 28 Sold 4
September 30 4 (8 - 4)
Average cost = $40,200/8 = $5,025
a-1. Cost of goods sold = $20,100 (4 * $5,025)
Ending inventory = $20,100 (4 * $5,025)
a-2. FIFO:
Ending inventory = $20,300 (3 * $5,100 + 1 * $5,000)
Cost of goods sold = Cost of goods available minus cost of ending inventory
= $40,200 - $20,300
= $19,900
a-3 LIFO:
Cost of goods sold = $20,300 (3 * $5,100 + 1 * $5,000)
Ending inventory = Cost of goods available minus cost of goods sold
= = $40,200 - $20,300
= $19,900
The following are selected 2017 transactions of Shamrock Corporation.
Sept. 1 Purchased inventory from Encino Company on account for $55,600. Shamrock records purchases gross and uses a periodic inventory system.
Oct. 1 Issued a $55,600, 12-month, 8% note to Encino in payment of account.
Oct. 1 Borrowed $55,600 from the Shore Bank by signing a 12-month, zero-interest-bearing $59,960 note.
Required:
Prepare journal entries for the selected transactions above.
Answer and Explanation:
The journal entries are shown below:
a.
On Sep-01
Purchases $55,600
Accounts Payable $55,600
(Being inventory is purchased)
On Oct-01
Accounts Payable $55,600
Notes Payable $55,600
(being note payable is issued)
On Oct-01
Cash $55,600
Discount on Notes Payable $4,360
Notes Payable $59,960
(Being amount is borrowed)
b
On Dec-31
Interest Expense $1,112 ($55,600 × 8% × 3 ÷ 12)
Interest Payable $1,112
(Being interest on the note is recorded)
On Dec-31
Interest Expense $1,090 ($4,360 ÷ 12 × 3)
Discount on Notes Payable $1,090
(Being discount on the note is recorded)
You are interested in investing your m0ney, but don't know much about
individual stocks or bonds. What kind of investment would be best for you?
A. Mutual fund
B. Shares of G0ogle or lBM
C. Treasury Bonds
D. Checking account
Answer: A. Mutual Fund
Explanation:
Mutual fund is the kind of investment would be best for a person. Thus, option A is correct.
What is the mutual fund?A mutual fund is a pool of money that is professionally managed by a Fund Manager. It is a trust that collects money from a group of investors with similar investment goals and invests it in stocks, bonds, money market instruments, and/or other securities.
A mutual fund is a type of investment vehicle that pools money from investors who share a common investment goal. Mutual funds make money primarily through sales charges that function similarly to commissions and by charging investors a percentage of assets under management (AUM).
Therefore, option A is correct, that a mutual fund is the best type of investment for a person.
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Where would you go to get information for your business plan?
Credible websites for planning, credible websites for research on business, and anything to improve your knowledge to be prepared.
Digital Solutions Inc. uses flexible budgets that are based on the following data:
Sales commissions 6% of sales
Advertising expense 14% of sales
Miscellaneous administrative expense $8,500 per month plus 5% of sales
Office salaries expense $54,000 per month
Customer support expenses $18,000 per month plus 32% of sales
Research and development expense $75,000 per month
Prepare a flexible selling and administrative expenses budget for October for sales volumes of $500,000, $750,000, and $1,000,000.
Answer:
Digital Solutions Inc.
Selling and Administrative Expenses Budget for October:
Sales volumes $500,000 $750,000 $1,000,000
Selling expenses:
Sales commissions 6% $30,000 $45,000 $60,000
Advertising expense 14% 70,000 105,000 140,000
Customer support expenses:
Fixed 18,000 18,000 18,000
Variable 32% of sales 160,000 240,000 320,000
Total selling expenses $278,000 $408,000 $538,000
Administrative expenses:
Miscellaneous administrative expense:
Fixed 8,500 8,500 8,500
Variable 5% of sales 25,000 37,500 50,000
Office salaries expense 54,000 54,000 54,000
Research and
development expense 75,000 75,000 75,000
Total administrative exp. $162,500 $175,000 $187,500
Total $440,500 $583,000 $725,500
Explanation:
a) Data and Calculations:
Sales commissions 6% of sales
Advertising expense 14% of sales
Miscellaneous administrative expense $8,500 per month plus 5% of sales
Office salaries expense $54,000 per month
Customer support expenses $18,000 per month plus 32% of sales
Research and development expense $75,000 per month
Sales volumes of $500,000, $750,000, and $1,000,000
Sales volumes $500,000 $750,000 $1,000,000
Selling and administrative expenses:
Sales commissions 6% $30,000 $45,000 $60,000
Advertising expense 14% 70,000 105,000 140,000
Miscellaneous administrative expense:
Fixed 8,500 8,500 8,500
Variable 5% of sales 25,000 37,500 50,000
Office salaries expense 54,000 54,000 54,000
Customer support expenses:
Fixed 18,000 18,000 18,000
Variable 32% of sales 160,000 240,000 320,000
Research and
development expense 75,000 75,000 75,000
Total $440,500 $583,000 $725,500
Which of the following situations would be a wrongful dissociation of a partner in a partnership? Multiple Choice Expulsion of a partner in accordance with the partnership agreement. Expulsion of a partner by a court at the request of the partnership. Expulsion of a partner who has transferred his transferable partnership interest. Expulsion of a partner with whom it is unlawful for the partnership to carry on its business.
Answer: Expulsion of a partner who has transferred his transferable partnership interest.
Explanation:
A partner can be expelled rightfully if it is done in accordance with the partnership agreement.
It is also fine to expel a partner if the Court orders the expulsion on advice it other partners.
Expelling a partner with whom it is unlawful to carry out business with is also fine because it is affecting the business negatively.
The correct answer must therefore be; expelling a partner who transferred their transferable partnership interest.