Mayor Cornett's initiative was well received nationally and locally because he cared for the public health of citizens in an innovative way.
Who is Michael Cornett?Michael Cornett (1958) is an American politician who served as the mayor of Oklahoma City between 2005 and 2018.
During his tenure, he had an innovative and unconventional initiative that he called This City Is Going On A Diet with which he sought to establish guidelines for good nutrition and a healthy lifestyle to reduce obesity rates in the city.
In general, this initiative was well received by the inhabitants of the city who joined efforts to lose weight. Additionally, this had a positive impact at the national level since the president's wife extolled her positive work for the health of citizens.
In this program, he founded a help website for people who were interested in getting professional weight loss support. There they found healthy food options, tips and other pertinent information to help them lose weight.
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Road Master Shocks has 15,000 units of a defective product on hand that cost $80,000 to manufacture. The company can either sell this product as scrap for $6 per unit or it can sell the product for $9 per unit by reworking the units and correcting the defects at a cost of $40,000. Prepare a schedule to show the effect of selling the defective units as scrap or rework.
Answer:
If the units are reworked, net income will increase by $5,000.
Explanation:
Giving the following information:
Number of units= 15,000
Sell as-is:
Selling price= $6 per unit
Rework:
Selling price= $9
Total cost= $40,000
The original production costs ($80,00) should not be taken into account because they remain constant for the two options.
Now, we will determine the effect on the income of both choices:
Sell as-is:
Effect on income= 6*15,000= $90,000 increase
Re-work:
Revenue= 15,000*9= 135,000
Total cost= (40,000)
Effect on income0 $95,000 increase
If the units are reworked, net income will increase by $5,000.
Hardy Company must maintain a compensating balance of $50,000 in its checking account as one of the conditions of its short-term 6% bank loan of $500,000. Hardy's checking account earns 2% interest. Ordinarily, Hardy would maintain a $20,000 balance in the account for transaction purposes. What is the loan's approximate effective interest rate
Answer:
The loan's approximate effective interest rate is 6.17%.
Explanation:
Interest expense = Short term bank loan * Short term bank loan interest rate = $500,000 * 6% = $30,000
Interest income = Balance in the account checking account * Interest rate on checking account balance = $20,000 * 2% = $400
Net interest expense = Interest expense - Interest income = $30,000 - $400 = $29,600
Available amount = Short term bank loan interest rate - Balance in the account checking account = $500,000 - $20,000 = $480,000
Effective interest rate = Net interest expense / Available amount = $29,600 / $480,000 = 0.0617, or 6.17%
Therefore, the loan's approximate effective interest rate is 6.17%.
The Tinslow Co. has 125,000 shares of stock outstanding at a market price of $93 a share. The company has just announced a 5-for-3 stock split. How many shares of stock will be outstanding after the split
Answer:
Total shares outstanding = 208,333 units
Explanation:
A stock split occurs where a company increases the the total unit of its existing shares by dividing them . It does this to achieve a cheaper nominal price of per unit of share without increasing the total nominal value
Total shares outstanding = 5/3× 125,000= 208,333.
Total shares outstanding = 208,333 units
A hospitality company is evaluating building a new hotel in Bloomington (capital project) that management forecasts will generate $45,000 each year over its six (6) year life. If the required rate of return given the project's identified risks is 12% (percent), and the project's up front costs are estimated at $165,000, should management go forward with the project?
a. Management should approve the new hotel since the project's NPV is positive.
b. Management should reject the new hotel project as the project's NPV is negative.
c. Unable to determine given information.
Answer:
A
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable.
When choosing between positive NPV projects, choose the project with the highest NPV first because it is the most profitable.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-165,000
Cash flow in year 1 - 6 = $45,000
I = 12%
NPV = $20,013.33
the project should be approved because NPV is positive
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
WILL GIVE BRAINLIEST PLS ANSWER (PERSONAL AND FAMILY FINANCE)
Yusef’s financial advisor tells him that he has made a great budget. Why was he MOST likely successful with his budget?
A.
He refused to accept any changes to it.
B.
He did not share the information with his family.
C.
He chose realistic amounts for each category.
D.
He was the only member of the family who crafted it.
Answer: A
Explanation:
Yusef’s financial advisor tells him that he has made a great budget. He is most likely successful with his budget because he refused to accept any changes to it. Option (a) is correct.
What do you mean by Budget?A budget is a financial plan that projects future earnings and costs.
The Personal and Family Finance assessment and certification will cover both foundational skills for personal and family finance careers as well as skills required for success in managing personal and family financial matters in daily life (a necessary skill set to maximize success in all career areas).
The phrase "personal finance" refers to managing your finances as well as saving and investing. It includes financial planning for retirement, taxes, and estates, as well as banking, insurance, mortgages, and investments.
Therefore, Option (a) is correct. He refused to accept any changes to it.
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1. You are evaluating the purchase of HypeToys, Inc. common stock that just paid an annual dividend of $1.80. You expect the dividend to grow at a rate of 12% per year, indefinitely. You estimate that a required rate of return 17.5% will be adequate compensation for this investment. Assuming that your analysis is correct, and the company pays dividends once a year, what is the most that you’re willing to pay for the common stock if you were to purchase it today? Round to the nearest $.01.
Answer:
$36.65
Explanation:
D1 = D*(1+g)
D1 = 1.8*(1+0.12)
D1 = 1.8(1.12)
D1 = $2.016
Price of stock P = D1 / (re - g)
Price of stock P = $2.016 / (0.175 - 0.12)
Price of stock P = $2.016 / 0.055
Price of stock P = $36.654545
Price of stock P = $36.65
So, $36.65 is the most that i will be willing to pay for the common stock if i am to purchase it today.
Assume that the quantity of X is measured on the horizontal axis, and the quantity of Y is measured on the vertical axis. Assume that the price of X is $60, the price of Y is $30 and Rafe has an weekly income of $180. Which of the following is true? He can afford 6 units of good Y. His budget line has a slope of 1/3. He can afford 6 units of good X. His budget line has a slope of −1/3.
Answer:
True : He can afford 6 units of good Y'
Explanation:
Budget Line is a combination of two goods, consumer can afford with entire given money income & prices.
Equation : p1 x1 +p2 x2 = m. Here p1 & p2 are prices of two goods, x1 & x2 are quantities of two goods, m is money income.
Intercept of budget line is max quantity of a good consumer can buy spending only on either good. Formula = m / p1 & m / p2
As : m = 180 , p1 (px) = 60 , p2 (py) = 30 . Intercepts (x & y) = 180 / 60 = 3 & 180 / 30 = 6 respectively.
So, 'He can afford 6 units of good Y' is True. 'He can afford 6 units of good X' is False.
Slope shows the trade off of goods, given money income & price. Formula = = p1 / p2 = px / py = 60 / 30 = (-) 2. 'His budget line slope = 1/3 or -1/3', both are False
Consumer surplus is Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. a positive in the case of a monopolist practicing perfect price discrimination. b zero for a single-price monopolist. c equal to the price minus the marginal cost. d less in the case of a single-price monopoly than in the case of a perfectly competitive industry.
Answer:
d less in the case of a single-price monopoly than in the case of a perfectly competitive industry.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
For example, a public power company is an example of a monopoly because they serve as the only source of power utility provider to the general public in a society.
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Generally, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.
Generally, consumer surplus is less in the case of a single-price monopoly than in the case of a perfectly competitive industry.
Which account option may require larger money contributions than usual but offers a higher interest rate than traditional savings?
Certificate of deposit
Checking
Money market
Saning
Answer:
Money Market
Explanation:
I just did this
examples of veriable costs
Answer:
Exmples are : labor wage, cost of inputs
Explanation:
Variable cost are the costs that are changing with changing in inputs or production.
This year Andrews achieved an ROE of 30.2%. Suppose management takes measures that increase Asset turnover (Sales/Total Assets) next year. Assuming Sales, Profits, and financial leverage remain the same, what effect would you expect this action to have on Andrews's ROE
Answer:
The answer is " Andrews ROE increases."
Explanation:
Please find the complete question in the attached file.
Using formula:
[tex]\text{ROE = Profit Margin} (\frac{Profit}{Sales}) \times \text{Total Asset Turnover} (\frac{Sales}{Assets}) \times \text{Equity Multiplier} (\frac{Assets}{Equity})[/tex]
As total asset sales (sales/assets) decline whereas other items remain constant, ROE decreases. Or we could assume that growth of asset turnover would result in increased ROE, culminating in much more sales per unit of asset held by the firm.
To compare statement of cash flows reporting under the direct and indirect methods, indicate whether each item is used in the direct method or the indirect method.
a. Accounts payable
b. Payments to employees
c. Cash collections from customers
d. Accounts receivable
e. Payments to suppliers
Answer:
Indirect Method
a. Accounts payable increase or decrease
d. Accounts receivable increase or decrease.
The above are both used in the Indirect method and fall under Cashflow from Operating activities.
Direct Method
b. Payments to employees
c. Cash collections from customers
e. Payments to suppliers
The direct method involves the above and they all fall under Cash generated from operations.
If Serena runs her own business and is responsible for everything, she is a/an
Answer:An entrepreneur
Explanation:
An entrepreneur is an individual who starts and runs a business with limited resources and planning, and is responsible for all the risks and rewards of her business venture.
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Answer:
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Nelson Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $112,000. The equipment will have an initial cost of $224,000 and have a 3 year life. If the salvage value of the equipment is estimated to be $87,000, what is the payback period
Answer:
2 years
Explanation:
Payback period is the length of time it takes for the future cash flows to equal the initial investment.
$224,000 = $112,000 + $112,000
therefore,
It takes 2 years for the cashflows to equal initial investment
Assume that the yen/dollar exchange rate quoted in London at 3:00 p.m. is ¥115 = $1. Rinaldo finds out that the rate quoted in New York at 10:00 a.m. (3:00 p.m. London time) is ¥135 = $1. Rinaldo decides to buy yen in New York and sell it in London. Rinaldo is engaging in
Answer: arbitrage
Explanation:
Based on the information given in the question, we can infer that Rinaldo is engaging in arbitrage.
This is an example of currency arbitrage as it involves Rinaldo buying and selling the currency pairs that's gotten from different brokers in order to be able to take advantage of mispriced rates.
Legos makes multiple lines of products, including Duplos (for toddlers), various Lego kits and games (for boys 7-12 years of age), Friends and Disney Princess Lego kits (for girls 7-12 years of age), Technics (automated kits for teenage boys), and Legos Architecture (for young adults and college students). For each of these product lines, Lego targets a specific segment of consumers and develops different promotional strategies to appeal to each segment. This illustrates:
Question Completion:
O an undifferentiated targeting strategy.
O a differentiated (multi-segment) targeting strategy.
O a concentrated targeting strategy.
O none of these.
O an non-concentrated targeting strategy.
Answer:
Legos
This illustrates:
O a differentiated (multi-segment) targeting strategy.
Explanation:
The company is using a differentiated, multi-segment targeting strategy. The multi-segments targeted are toddlers, boys 7-12 years of age, girls 7-12 years of age, teenage boys, and young adults and college students. With this differentiated multi-segment marketing, Legos targets each segment in a different way, providing unique benefits to the different market segments. The purpose is to maximize sales and profits by meeting the multivariate needs of the various segments.
Greg, a landscaper, is planning on opening his own landscaping company. He currently earns $50,000 per year working for his uncle but he will need to quit that job. He hires one employee at an annual wage of $15,000. He needs to pay rent of $8,000 per year. He plans to use $12,000 in savings to pay for the equipment he needs, the market value of the equipment at the end of the year is $10,000. Also he needs to buy $3,000 of goods and services from other firms. The current interest rate on savings is 7 percent. Greg predicts that the revenue from the new landscaping company is $80,000 a year. What is total opportunity cost incurred by Greg in running his own business
Answer: $52,840
Explanation:
The opportunity cost are the benefits he will give up to pursue his current venture of landscaping.
= Salary from working for uncle + Interest on the Savings to be used in business + Difference in market value if he waits till the end of the year
= 50,000 + (7% * 12,000) + (12,000 - 10,000)
= $52,840
The total opportunity cost incurred by Greg in running his own business is $52,840.
It should be noted that opportunity cost simply means the real cost of a foregone alternative. Opportunity cost arises as a result of scarcity of resources.
Therefore, the total opportunity cost incurred by Greg in running his own business will be:
= Salary from working for uncle + Interest on the Savings to be used in business + Difference in market value if he waits till the end of the year
= 50,000 + (7% × 12,000) + (12,000 - 10,000)
= 50000 + 840 + 2000
= $52,840
In conclusion, the opportunity cost is $52840.
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910. Show the relationship between short-run MC and MP1, and AYC and AP, mathematically
and graphically (1pts)
Explanation:
MC is at its minimum at the same output for which MP is at its maximum; AVC is at its minimum at the same output for which AP is at its maximum. A technological advance that increases productivity shifts the product curves upward and cost curves downward.
g at the close of its first year of operations, december 31, 2020, delaware company reported net realizable value of accounts receivable of $1,620,000. during 2020,the company had charges to bad debt expense of $270,000 and wrote off, as uncollectible, accounts receivable of $120,000. what should the company report on its balance sheet at december 31, 2020, as accounts receivable before the allowance for doubtful accounts
Answer:
$1,770,000
Explanation:
Given the above information, the computation of accounts receivable before the allowance is shown below;
= Beginning account receivable balance + Bad debt expense - Uncollectible accounts receivables
= $1,620,000 + $270,000 - $120,000
= $1,770,000
The bad debt is an expense hence will be added whereas the account receivable which is yet to be collected should be deducted the computation part.
Rubin Enterprises had the following sales-related transactions on a recent day:
a. Billed customer $27,500 on account for services already provided.
b. Collected $5,875 in cash for services to be provided in the future.
c. The customer complained about aspects of the services provided in Transaction a. To maintain a good relationship with this customer, Rubin granted an allowance of $1,500 off the list price. The customer had not yet paid for the services.
d. Rubin provided the services for the customer in Transaction b. Additionally, Rubin granted an allowance of $350 because the services were provided after the promised date. Because the customer had already paid, Rubin paid the $350 allowance in cash.
Required:
Prepare the necessary journal entry (or entries) for each of these transactions.
Answer:
Transaction a
Debit : Account Receivable $27,500
Credit : Sales Revenue $27,500
Transaction b
Debit : Cash $5,875
Credit : Deferred Revenue $5,875
Transaction c
Debit : Sales Revenue $1,500
Credit : Account Receivable $1,500
Transaction d
Debit : Deferred Revenue $5,875
Credit : Sales Revenue $5,525
Credit : Discount received $350
Explanation:
The journals have been prepared above.
A newspaper vendor is trying to determine how many daily papers to order. The cost to the vendor of a single paper is $0.75. The vendor sells each paper for $1.85. The value of the paper will drop to 0 the next day. If the daily demand for papers is normally distributed with a mean of 500 papers and a standard deviation of 100 papers. The newspaper vendor should order how many papers?
a. 500
b. 525
c. 559
d. 795
e. 475
Answer:c
Explanation:cuz it c
Nat is a salesman for a real estate developer. His employer permits him to purchase a lot for $75,000. The employer's adjusted basis for the lot is $45,000, and its normal selling price is $90,000. What is Nat's recognized gain and his basis for the lot
Answer:
Recognized gain = $15,000
Basis for lot = $90,000
Explanation:
According to the scenario, computation of the given data are as follows,
Purchase amount = $75,000
Adjusted basis = $45,000
Normal selling price = $90,000
So, Recognized gain = Normal selling price - Purchase amount
By putting the value, we get
Recognized gain = $90,000 - $75,000
= $15,000
Now, Basis for lot = Purchase amount + Recognized gain
= $75,000 + $15,000
= $90,000
Blue Corporation purchased a truck at the beginning of 2020 for $61,000. The truck is estimated to have a salvage value of $2,440 and a useful life of 195,200 miles. It was driven 28,060 miles in 2020 and 37,820 miles in 2021. Compute depreciation expense using the units-of-production method for 2020 and 2021.
Depreciation expense for 2020
Depreciation expense for 2021
Answer:
Depreciation expense for 2020 = $8,418
Depreciation expense for 2021 = $11,346
Explanation:
Depreciation expense using the units-of-production method is determined as follows :
Depreciation expense = Depreciation rate x annual usage
where,
Depreciation rate = (Cost - Salvage Value) ÷ Estimated usage
= ($61,000 - $2,440) ÷ 195,200 miles
= $0.30 per mile
thus,
Depreciation expense for 2020
Depreciation expense = $0.30 per mile x 28,060 miles
= $8,418
Depreciation expense for 2021
Depreciation expense = $0.30 per mile x 37,820 miles
= $11,346
Potts company uses a job costing system and had the following data available for 20X9.
Cost of raw materials purchased on account $ 75,000
Cost of raw materials requisitioned(includes
$2,000 of indirect materials) $ 43,000
Direct labor cost incurred $ 75,000
Manufacturing overhead costs incurred $ 95,000
Cost of goods completed $ 226,750
Cost of goods sold $ 138,000
Raw materials inventory, Jan. 1, 20X9 $ 15,000
Work in process inventory, Jan. 1, 20X9 $ 32,000
Finished goods inventory, Jan. 1, 20X9 $ 31,000
Pre-determined manufacturing overhead rate 125% (as a percent of direct labor cost)
Refer to Case 1.
The journal entry to record the total materials placed into production would include which of the following?
A) debit to manufacturing overhead for $41,000
B) debit to work in process for $43,000
C) debit to work in process for $41,000
D) credit to manufacturing overhead for $2.000
Refer to Case 2.
The journal entry to record the actual manufacturing overhead costs incurred would include which of the following?
A) debit to manufacturing overhead $95,000
B) debit to work in process for 93.750
B) credit to work in process $95,000
C) credit to manufacturing overhead $93,750
Answer:
1. C) debit to work in process for $41,000
2. A) debit to manufacturing overhead $95,000
Explanation:
1. The materials that were placed into production are:
= Cost of raw materials requisitioned - indirect materials
= 43,000 - 2,000
= $41,000
This will be debited to the Work in Progress as it is a direct cost.
2. Manufacturing overhead for the period is $95,000 and this will go to the manufacturing overhead account as a debit because it is an expense.
Customers have become increasingly anxious about breaches of privacy, and it is essential for marketing researchers to _________. Group of answer choices conceal consumers' addresses and phone numbers when they share information share information only with the sales department for follow-up respect and protect the privacy of customers without question refer to the company's code of ethics to determine what information can be released All of these
Answer:
All of these.
Explanation:
Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.
Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.
Over the years, customers have become increasingly anxious about breaches of privacy and compromise of their data by business firms. Thus, it is essential for marketing researchers to;
I. Conceal or hide consumers' addresses (both work and home) and phone numbers when they share information on any platform.
II. They should only share customer information with the sales department for follow-up.
III. Respect and protect the privacy of all of their customers without question or recourse.
IV They should always refer to the company's code of ethics so as to determine what information are permitted to be released for public consumptions.
Price rises from $10 to $11, and the quantity demanded falls from 100 units to 95 units. What is the price elasticity of demand using the midpoint formula between these two prices in absolute terms (round to 2 decimal places)
Answer:
0.54
Explanation:
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
change in quantity demanded = 100 - 95 = 5
average of both demands = (100 + 95) / 2 = 97.5
Midpoint change in quantity demanded = 5 / 97.5 = 0.051282
midpoint change in price = change in price / average of both price
change in price = $11 - $10 = 1
average of both price = ($11 + $10) / 2 = 10.5
midpoint change in price = 1 / 10.5 = 0.095238
Price elasticity of demand = 0.051282 / 0.095238 = 0.54
The options for closing inventory is
A. 10.50
B. 10
C. 10.25
Total cost options are
A. 8,050
B. 8,000
C. 8,200
Answer:
i think A
Explanation:
I hope this helps:)))
A company with 100,000 authorized shares of $7 par common stock issued 46,000 shares at $16. Subsequently, the company declared a 2% stock dividend on a date when the market price was $30 per share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend
Answer:
$27,600
Explanation:
Amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend:
= Shares issued * Percentage of stock dividend * Market price
= 46,000 shares * 2% * $30
= 46000*0.02*$30
= $27,600
Sutherland manufactures and sells 50,000 laser printers each month. A principal component part in each printer is its paper feed drive. Sutherland's plant currently has the monthly capacity to produce 80,000 drives. The unit costs of manufacturing these drives (up to 80,000 per month) are as follows. Variable costs per unit: Direct materials $ 23 Direct labor 15 Variable manufacturing overhead 2 Fixed costs per month: Fixed manufacturing overhead $ 1,300,000 Desk-Mate Printers has offered to buy 10,000 paper feed drives from Sutherland to be used in its own printers. a. Compute the average unit cost of manufacturing each paper feed drive assuming that Sutherland manufactures only enough drives for its own laser printers. b. Compute the incremental unit cost of producing an additional paper feed drive. c. Compute the per-unit sales price that Sutherland should charge Desk-Mate to earn $140,000 in monthly pretax profit on the sale of drives to Desk-Mate.
Answer:
Sutherland
a. The average unit cost of manufacturing each paper feed drive is:
= $56.25.
b. The incremental unit cost of producing an additional paper feed drive is:
= $170.
c. The per-unit sales price that Sutherland should charge Desk-Mate to earn $140,000 in monthly pre-tax profit on the sale of drives to Desk-Mate is:
= $184.
Explanation:
a) Data and Calculations:
Production and sales of laser printers per month = 50,000
Monthly production capacity for paper feed drives = 80,000
Unit costs of producing drives:
Variable costs per unit:
Direct materials $ 23
Direct labor 15
Variable manufacturing overhead 2
Variable cost per unit $40 $3,200,000 (80,000 * $40)
Fixed costs per month:
Fixed manufacturing overhead $1,300,000
Total production costs = $4,500,000
Average unit cost = $56.25 ($4,500,000/80,000)
Incremental unit cost of producing an additional paper feed drive:
Variable cost = $40 * 10,000 = $400,000
Additional fixed cost per month = $1,300,000
Total incremental costs = $1,700,000
Unit cost = $170 ($1,700,000/10,000)
Total incremental costs = $1,700,000
Monthly pre-tax target profit 140,000
Expected sales revenue = $1,840,000
Sales price per drive = $184 ($1,840,000/10,000)