Answer:
$160
Explanation:
The way 401(k) savings work is that employees can save from their earnings before tax is deducted, which means that on the $200 saved no tax is deducted, hence, the take of the employee reduces by $200
When there are savings, a tax of 20% would have been deducted from the $200, as a result, the employee would be left with $160($200-($200*20%)), which means that take-home would reduce by $40, the amount tax deducted.
The reduction in take-home=$200-$40
The reduction in take-home=$160
Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000 after deducting variable costs of $72,000 and fixed costs of $10,000. Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be
Answer:
Fixed Cost = $10,000
Variable Costs = $90,000
Explanation:
Variable Cost per unit = $72,000 ÷ 12,000
= $6
Variable Costs at 15,000 units = $6 x 15,000
= $90,000
Fixed Cost (given) = $10,000
Asteria earned a $27,000 salary as an employee in 2020. How much should her employer have withheld from her paycheck for FICA taxes
Answer:
$2,070
Explanation:
Calculation to determine How much should her employer have withheld from her paycheck for FICA taxes
Social security tax 6.2%
Medicare tax which is 1.45%
Social security tax = $27,000 x 6.2%
Social security tax = $1,674
Medicare tax = $27,000 x 1.45%
Medicare tax =$391.5
FICA taxes Paycheck withheld= - $1,674 + $391.5
FICA taxes Paycheck withheld=$2,065.5
FICA taxes Paycheck withheld=$2,070 (Approximately)
Therefore How much should her employer have withheld from her paycheck for FICA taxes will be $2,070
_______________ skills, though developed through job training and work experience, are generally acquired during the course of your formal education.
a. Interpersonal
b. Technical
c. Conceptual
d. Communication
Answer:
D
Explanation:
Jake lives in Detroit and runs a business that sells boats. In an average year, he receives $722,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $422,000; he also pays wages and utility bills totaling $268,000. He owns his showroom; if he chooses to rent it out, he will receive $2,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Jake does not operate this boat business, he can work as a paralegal, receive an annual salary of $21,000 with no additional monetary costs, and rent out his showroom at the $2,000 per year rate. No other costs are incurred in running this boat business.
Identify each of Felix’s costs in the following table as either an implicit cost or an explicit cost of selling guitars.
Implicit Cost Explicit Cost
The wholesale cost for the guitars that Felix pays the manufacturer
The rental income Felix could receive if he chose to rent out his showroom
The salary Felix could earn if he worked as a paralegal
The wages and utility bills that Felix pays
Complete the following table by determining Felix’s accounting and economic profit of his guitar business. Profit (Dollars)Accounting Profit Economic Profit
Answer:
Explicit Cost
The wholesale cost for the guitars that Felix pays the manufacturerThe wages and utility bills that Felix paysImplicit Cost
The salary Felix could earn if he worked as a paralegal The wages and utility bills that Felix paysAccounting profit = $32,000
Economic profit = $9,000
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business.
They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
Jayco has the following expected cash flows from a project. Calculate the payback period of the project. Year 0 (685,000) Year 1 255,000 Year 2 355,000 Year 3 455,000 Year 4 555,000
Answer:
2.16 years
Explanation:
When a market is in equilibrium, the: multiple choice 1 quantity demanded equals the price. quantity demanded equals the quantity supplied at the market price. quantity demanded equals the quantity supplied and they both equal the price. quantity supplied equals the price. The market for cell phones reaches equilibrium because cell phone sellers have an incentive: multiple choice 2 to decrease quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to rise and some cell phone consumers will not buy at higher prices, driving the price to equilibrium. to increase quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to fall and some cell phone consumers only buy at higher prices, driving the price to equilibrium.
ANSWER:
2 Batteries
Explanation:
Suppose there is a simple one good economy that only produces spinning rims. In 2015, the economy was able to produce 1 million sets of spinning rims at an amazing price of $500 per set. In 2016, the economy was able to produce 1 million sets of spinning rims at a price of $1,000 per set. By what amount did real GDP increase between 2015 and 2016 in the simple one good economy
Answer: 0
Explanation:
Firstly, we will calculate the nominal value in 2015 which will be:
= $500 x 1 million
= $500 million
The nominal value in 2016 will be:
= $1000 x 1 million
= $1 billion
Real GDP will be the price of the base year multiplied by the quantity of the current year which will be:
= $500 million x 1 million sets
= $500 million
Therefore, the increase in real GDP is zero.
Consider the following data and then calculate the half-life for this particular isotope:
Time Activity (cpm)
0 days 320,000
40 days 216,100
100 days 120,000
(A) 35.2 days.
(B) 75.6 days.
(C) 70.6 days.
(D) 62.9 days.
(E) None of these.
Answer:
D. 62.9 days
Explanation:
Half Life Cpm activity:
320,000 / 2 = 160,000
At 100 days cpm is 120,000 then cpm 160,000 will be at 62.9 days.
[320,000 - 216,100] / 40 days = 2,597.5
160,000 / 2,597.5 = 62.9 days.
rt, a $0.73 per share cash dividend was declared by the board of directors for it common stock. On 12/31, the date of declaration, there were 98,000 shares authorized, 59,000 shares issued, and 8,000 Treasury shares. On the date of the dividend declaration, what amount will Walmart record into their dividend account
Answer:
$36,792
Explanation:
Missing word "At Walmart, the board of directors declared a $0.73"
Outstanding stockholder = Issued stockholder - Treasury stock
Outstanding stockholder = 59,000 shares - 8,600 shares
Outstanding stockholder = 50,400 shares
Amount of Dividend = Declared per share cash dividend * Outstanding stockholder
Amount of Dividend = 50,400 shares * $0.73
Amount of Dividend = $36,792
So therefore, on the date of the dividend declaration, $36,792 shall be recorded by Walmart into their dividend account.
everyone makes mistakes sometimes. when we ask your most recent manager what types of mistakes you would be least likely to make on the job what will they say
Answer:
needs to be more spefic
Explanation:
A long-term investment classified as equity securities with controlling influence implies that the investor can exert a controlling influence over the investee. An investor who owns more than ____% of a company's voting stock has control over the investee.
Answer: 50%
Explanation:
The Equity Securities with controlling influence refers to the long-term investment whereby the investor exert controlling influence over the investee. In such case, the investors own 50% or more of the voting stock.
On the other hand, the Equity securities with significant influence refers to the long-term investment whereby the investor exerts significant influence over the investee. In such case, the investors own 20% or more of the voting stocks but should be less than 50%.
Explain the difference between the concepts of Business Management and Technology Management. Provide examples.
Answer:
Explanation:
There is a difference between business management and technology management.
Business management refers to managing the organization's business perspective so that the direct business objectives of the organization is served.
Business management involves managing the domain, employees, looking after the business processes of an organization, etc. whereas
While technology management is used to make the business process simple and convenient through various aspects like managing the technical aspect of each and every business process and that is possible by having details about the technical aspects that are involved in all the business process of the organization.
For an organization to be successful it should possess all the required management techniques that include the business and technical aspects both.
Today the way of doing business has changed a lot and hence the organizations need to be quite diligent and effective in order to sustain and remain competitive in the industry.
You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers you a free ticket to a Post Malone concert that you think is worth $80. What is the opportunity cost to you of going to the Drake concert instead of the Post Malone concert?a) $155b) $20c) $5d) $75e) $80
Answer: $80
Explanation:
The opportunity cost is regarded as the real cost of the alternative that was left or forgone.
Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.
Therefore, the correct option is E.
The specific actions to be taken in implementing a strategy.
The correct answer to this open question is the following.
Although there are no options attached we can say the following.
In general terms, the specific actions to be taken in implementing a strategy are the following.
First of all, the manager has to clearly define the strategic plan and its content.
Then, define the general goal, and specific goals. It is highly recommended to use the SMART formula. Goals have to be specific, measurable, attainable, realistic, and time-bound.
Then, define the Key Performing Indicators or KPI's. These will serve to define the results the company expects to accomplish with the plan.
Create a series of programs and specific actions to reach the goals.
Then, to implement the tactics or specific programs.
Monitoring the programs and then evaluate the results to provide feedback.
What percentage of authorized shares was issued by Coca-Cola at December 31, 2015, and by PepsiCo at December 26, 2015
Answer:
December 26
Explanation:
Because Pepsi Co is buy
Accounts receivable $ 18,000 Long-term notes payable $ 21,000 Accounts payable 11,000 Office supplies 2,800 Buildings 45,000 Prepaid insurance 3,560 Cash 7,000 Unearned services revenue 3,000 Compute Chavez Company's current ratio using the above information.
Answer: 2.24
Explanation:
Current ratio = Current Assets / Current liabilities
Current assets = Accounts receivable + Office supplies + Prepaid insurance + Cash
= 18,000 + 2,800 + 3,560 + 7,000
= $31,360
Current liabilities:
= Accounts payable + Unearned service revenue
= 11,000 + 3,000
= $14,000
Current ratio = 31,360 / 14,000
= 2.24
On December 31, 2020, Lipton, Inc. sold $3,000,000 (face value) of bonds. The bonds are dated December 31, 2020, pay interest annually on December 31, and will mature on December 31, 2020 The following schedule was prepared by the accountant for 2020 Annual Interest Period Interest to Interest be paid Expense Amortization Unamortized Amount $75,000 51.750 Bond Carrying Value $2,925,000 2,948,250 1 $240,000 $263,250 $23,250 On the basis of the above information, answer the following questions What is the stated interest rate for this bond issue? Stated interest rate SHOW LIST OF ACCOUNTS What is the market interest rate for this bond issun? Market interest rate 5 What is the market interest rate for this bond issue? Market interest rate % SHOW LIST OF ACCOUNTS What was the selling price of the bonds as a percentage of the face value? (Round answer to 1 decimal place, e.g. 52.7.) Selling price SHOW LIST OF ACCOUNTS tudy Prepare the journal entry to record the sale of the bond issue on December 31, 2020. (Credit account titles are autofnatically indented wh manually.) Debit Date Account Titles and Explanation Dec 31, 2020 Credit SHOW LIST OF ACCOUNTS Prepare the journal entry to record the payment of interest and amortization of discount on December 31, 2021. (Credit account titles an entered. Do not indent manually.) Account Titles and Explanation Debit Dec 31, 2021 Date Credit ly SHOW LIST OF ACCOUNTS
Answer:
Lipton, Inc.
1. Stated interest = Annual interest/Face value of bonds * 100
= $240,000/$3,000,000 * 100
= 8%
2. The market interest rate for this bond issue = Interest Expense/Price of issued bonds * 100
= $263,250/$2,925,000 * 100
= 9%
3. The selling price of the bonds as a percentage of the face value
= $2,925,000/$3,000,000 * 100
= 97,5%
4. Journal Entries:
Date Account Titles and Explanation Debit Credit
Dec 31, 2020 Cash $2,925,000
Bonds Discounts 75,000
Bonds Payable $3,000,000
To record the issuance of the bonds at a discount.
5. Journal Entries:
Date Account Titles and Explanation Debit Credit
Dec 31, 2021 Interest Expense $263,250
Amortization of bond discounts $23,250
Cash $240,000
To record the payment of interest and amortization of discount.
Explanation:
a) Data and Calculations:
December 31, 2020
Face value of issued bonds = $3,000,000
Interest payment = December 31 annually
Unamortized Amount = $75,000
Price of issued bonds = $2,925,000 ($3,000,000 - $75,000)
Discount on bonds = $75,000 ($3,000,000 - $2,925,000)
Schedule:
2020 Annual Interest Interest Expense Amortization Bond Carrying Value
$2,925,000
1 $240,000 $263,250 $23,250 2,948,250
1. Stated interest = Annual interest/Face value of bonds * 100
= $240,000/$3,000,000 * 100
= 8%
2. The market interest rate for this bond issue = Interest Expense/Price of issued bonds * 100
= $263,250/$2,925,000 * 100
= 9%
3. The selling price of the bonds as a percentage of the face value
= $2,925,000/$3,000,000 * 100
= 97,5%
Analysis:
December 31, 2020:
Cash $2,925,000 Bonds Discounts $75,000 Bonds Payable $3,000,000
December 31, 2021:
Interest Expense $263,250 Amortization of bond discounts $23,250 Cash $240,000
Assume that the current price of a stock is $100. A call option on that stock with an exercise price of $97 costs $7. A call option on the stock with the same expiration and an exercise price of $103 costs $3. Using these options what is the expiration profit of a bear call spread if the stock price is equal to $110
Answer:
-2
Explanation:
Gotham City acquires $25,000 of inventory on November 1, 20X7, having held no inventory previously. On December 31, 20X7, the end of Gotham City's fiscal year, a physical count shows $8,000 still in stock. During 20X8, $6,500 of this inventory is used, resulting in a $1,500 remaining balance of supplies on December 31, 20X8.
Based on the preceding information, what would be the correct account balances for 20X7 if Gotham City used the purchase method of accounting for inventories?
Answer:
$25,000; $8,000
Explanation:
Based on the information given , we were told that they acquires the amount of $25,000 of inventory on NOVEMBER 1, 20X7, in which on DECEMBER 31, 20X7, a PHYSICAL COUNT shows $8,000 was still in stock which means wthat the CORRECT ACCOUNT BALANCES for 20X7 if Gotham City used the PURCHASE METHOD of accounting for INVENTORIES will be Expenditure of the amount of $25,000 and Inventory of supplies of the amount of $8000.
Giannitti Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. Data for the upcoming year appear below:
Estimated machine-hours 72,900
Estimated variable manufacturing overhead $ 3.50 per machine-hour
Estimated total fixed manufacturing overhead 838,710
The predetermined overhead rate for the recently completed year was closest to:________.
A. $6.66 per machine-hour
B. $10.50 per machine-hour
C. $8.69 per machine-hour
D. $15.00 per machine-hour
Answer:
D. $15.00 per machine hour
Explanation:
The computation of the predetermined overhead rate for the recently completed year is seen below;
First, we will calculate the fixed overhead rate.
Fixed overhead rate = Estimated total fixed manufacturing overhead / Estimated machine - hours
Fixed overhead rate = $838,710 / 72,900
Fixed overhead rate = $11.50
Then,
Predetermined overhead rate = Fixed overhead rate + Variable overhead rate
Predetermined overhead rate = $11.50 + $3.50
Predetermined overhead rate for the recently completed year was closest to $15.00 per machine hour
A game has a saddle point when the maximin payoff value equals the minimax payoff value. true or false
Answer:
True
Explanation:
To answer this question, I'll use the following illustration.
Minimax = <10,18,15>
Maximax = <8,4,10>
The payoff of the minimax is 10 (i.e. the smallest) and the payoff of the maximax is 10 (i.e. the largest)
Both payoffs are equal; hence, 10 is the saddle point.
With so many workers habituated to using mobile devices for so much of their work, should company management develop apps for influencing subordinates? Explain your reasoning.
Answer:
This is not a yes or no answer.
The action of leadership/management would depend on their assessment of the impact of the habit on the results being delivered by the workers.
The questions to ask are:
Does the use of the mobile phone for their work reduce or increase productivity?Does what are the advantages? are there disadvantages?What would developing an app achieve for management?Explanation:
In trying to influence workers who are already habituated or accustomed to a particular way of doing things, it is best practice to study the culture and establish what its advantages are. This can then be compared to its demerits. If the demerits clearly and consistently present risks that make of no relevance the advantages, the leader(s) must move to correct such a risk.
So assuming that using mobile phones makes ICT risks (such as loss of company data, loss of company data, risk of unauthorised access etc) even more pronounced, whether or not the app is the best solution will depend on the total cost of that solution to the company weighed against other options.
Other options could simply be
- looking for an already existing app
- banning the using of mobile phone for office work using etc
- re-establishing the use of laptops as the preferred work tool
In any of the above scenarios, the leadership will succeed in influencing its workers positively if it:
plays its part well as a cultural shift role modelbecomes an arbiter of the policies modifying changes affecting work styleencourages the new workstyle by rewarding those that embrace it openly manage change by ensuring that there is a training platform that helps ease the transition into the new work style.Cheers
A company purchased factory equipment for $350,000. It is estimated that the equipment will have a $35,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be:_________ a. $140,000 b. $84,000. c. $126,000 d. $75,600
Answer:
Annual depreciation= $126,000
Explanation:
Giving the following information:
Purchase price= $350,000
Useful life= 5 years
Salvage value= $35,000
To calculate the annual depreciation under the double-declining balance, we need to use the following formula:
Annual depreciation= 2*[(book value)/estimated life (years)]
Annual depreciation= 2*[(350,000 - 35,000) / 5]
Annual depreciation= $126,000
Umatilla Bank and Trust is considering giving Kingbird, Inc. a loan. Before doing so, it decides that further discussions with Kingbird, Inc.’s accountant may be desirable. One area of particular concern is the Inventory account, which has a year-end balance of $253,450. Discussions with the accountant reveal the following.
1. Kingbird, Inc. sold goods costing $51,940 to Hemlock Company FOB shipping point on December 28. The goods are not expected to reach Hemlock until January 12. The goods were not included in the physical inventory because they were not in the warehouse.
2.The physical count of the inventory did not include goods costing $88,290 that were shipped to Kingbird, Inc. FOB destination on December 27 and were still in transit at year-end.
3. Kingbird, Inc. received goods costing $25,690 on January 2. The goods were shipped FOB shipping point on December 26 by Yanice Co. The goods were not included in the physical count.
4. Kingbird, Inc. sold goods costing $53,020 to Ehler of Canada FOB destination on December 30. The goods were received in Canada on January 8. They were not included in Kingbird, Inc. physical inventory.
5. Kingbird, Inc. received goods costing $46,060 on January 2 that were shipped FOB destination on December 29. The shipment was a rush order that was supposed to arrive December 31. This purchase was included in the ending inventory of $253,450.
Answer:
$286,100
Explanation:
Calculation to determine the correct inventory amount on December 31.
Using this formula
Correct Inventory amount=Ending Inventory+ Goods received shipping points + Goods shipped FOB destination-Goods received FOB destination
Let plug in the formula
Correct Inventory amount=$253,450+$25,690+$53,020-$46,060
Correct Inventory amount=$286,100
Therefore the correct inventory amount on December 31 is $286,100
Assume a market for a normal good is currently in equilibrium. If the government increases the taxes that firms must pay, then:
Answer:
The supply will decrease.
Explanation:
The supply will decrease because the application of taxes will make selling costly. Thus, when cost increases then producers supply less. Therefore, less quantity will be supplied in the market when tax is imposed and this will increase the prices of products.
The Molding Department of Boswell Company has the following production data: beginning work process 40,000 units (60% complete), started into production 730,000 units, completed and transferred out 690,000 units, and ending work in process 80,000 units (40% complete). Assuming conversion costs are incurred uniformly during the process, the equivalent units for conversion costs are:
Answer: 770,000 units
Explanation:
The Equivalent units for Conversion cost is calculated as:
= Total units completed and transferred out + Equivalent units of closing work in process
As the conversion costs were incurred uniformly during the process, the entire closing work in process would have already incurred conversion cost. Conversion cost closing equivalent units are therefore 80,000 units.
Equivalent units for Conversion cost = 690,000 + 80,000
= 770,000 units
lannigan Company manufactures and sells a single product that sells for $450 per unit; variable costs are $270. Annual fixed costs are $800,000. Current sales volume is $4,200,000. Compute the current margin of safety in dollars for Flannigan Company
Answer:
$2,200,000
Explanation:
Margin of safety means by how much sales can fall before a firm starts making a loss.
Margin of safety = Current Sales - Break even sales
where,
Break even sales = Fixed Cost ÷ Contribution margin ratio
= $800,000 ÷ 0.40
= $2,000,000
therefore,
Margin of safety = $4,200,000 - $2,000,000
= $2,200,000
As a researcher, what would you do if you set to reject the null and found the null to be true?
In the event that the null hypothesis was true, I would report my results honestly and transparently. If my results did not support my expectations, my goal as a researcher would be to learn as much as possible from them.
The first thing I would do is to make my data and my statistical analysis error-free. If my results were influenced by outliers or other unusual patterns in the data, I would check for them. I would recheck the statistical methods I used to ensure that they were appropriate and correct for the type of data I collected.
Once I was confident that my data and analysis were correct, I would consider whether there were any other explanations for the null hypothesis.
Therefore, In the event that the null hypothesis was true, I would report my results honestly and transparently.
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Depreciation, in accounting, is a process that results in: Multiple Choice an accurate measurement of the economic usefulness of an asset. depreciable assets being reported in the balance sheet at their fair value. accumulating cash for the replacement of the asset.
Answer:
spreading the cost of an asset over its useful life to the entity.
Explanation:
The depreciation is a non-cash expense that should be charged over the fixed assets i.e. land, buidling, car, etc
It is an expense so the same should be shown on the debit side of the income statement
Also the cost of an asset minus the salvage value divided by the useful life could be spreaded as the depredciation expense by using straight-line method
The management of Penfold Corporation is considering the purchase of a machine that would cost $360,000, would last for 10 years, and would have no salvage value. The machine would reduce labor and other costs by $50,000 per year. The company requires a minimum pretax return of 9% on all investment projects. Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to (Ignore income taxes.):
Answer:
the net present value is -$72,050
Explanation:
The computation of the net present value is shown below
= $50,000 per year ×PVIFA factor at 10 years for 9% - $360,000
= $50,000 ×5.7590 - $360,000
= $287,950 - $360,000
= -$72,050
hence, the net present value is -$72,050
So the same should be relevant and considered too
