Answer:
At what rate should the cars be rented to produce the maximum income?
$34 per day (170 cars rented)What is the maximum income?
$5,780Explanation:
number of cars rented rental price total income
190 $30 $5,700
185 $31 $5,735
180 $32 $5,760
175 $33 $5,775
170 $34 $5,780
165 $35 $5,775
160 $36 $5,760
155 $37 $5,735
150 $38 $5,700
145 $39 $5,655
140 $40
135 $41
130 $42
Issuing Stock
Professional Products Inc., a wholesaler of office products, was organized on February 5 of the current year, with an authorization of 50,000 shares of preferred 2% stock, $40 par and 1,000,000 shares of $8 par common stock. The following selected transactions were completed during the first year of operations:
Journalize the transactions.
Feb. 5. Issued 600,000 shares of common stock at par for cash.
Feb. 5
Feb. 5. Issued 1,500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
Feb. 5
Apr. 9. Issued 45,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $100,000, $310,000, and $85,000 respectively.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Apr. 9
June 14. Issued 30,000 shares of preferred stock at $53 for cash.
For a compound transaction, if an amount box does not require an entry, leave it blank.
June 14
Answer:
Feb. 5. Issued 600,000 shares of common stock at par for cash.
Dr Cash 4,800,000
Cr Common stock 4,800,000
Feb. 5. Issued 1,500 shares of common stock at par to an attorney in payment of legal fees for organizing the corporation.
Dr Organization costs 12,000
Cr Common stock 12,000
Apr. 9. Issued 45,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of $100,000, $310,000, and $85,000 respectively.
Dr Land 100,000
Dr Buildings 310,000
Dr Equipment 85,000
Cr Common stock 360,000
Cr Additional paid in capital: common stock 135,000
June 14. Issued 30,000 shares of preferred stock at $53 for cash.
Dr Cash 1,590,000
Cr Common stock 240,000
Cr Additional paid in capital: common stock 1,350,000
What are the portfolio weights for a portfolio that has 156 shares of Stock A that sell for $45 per share and 130 shares of Stock B that sell for $30 per share? (Do not round intermediate calculations and round your answers to 4 decimal places, e.g., .1616.)
Answer:
Total Stock price of Stock A = 156 x 45
Total Stock price of Stock A = $7,020
Total Stock price of Stock B = 130 x 30
Total Stock price of Stock B = $3,900
Hence, the total Stock price of Stock of A & B is $7,020 & $3,900 respectively.
Portfolio weight of Stock A = 7,020/ ( 7,020 + 3,900)
Portfolio weight of Stock A = 64%
Portfolio weight of Stock B = 3,900 / ( 7,020 + 3,900)
Portfolio weight of Stock B = 36%
Hence, the portfolio weight of stock A & B is 64% & 36% respectively.
Martine Piccirillo works as the payroll clerk for Centinix, a security company that hires many part-time and temporary workers who are paid on an hourly basis. What law governs the hiring or documenting of these workers?
Answer:
IRCA(Immigration Reform and Control Act of 1986)
FLSA(Fair Labor Standards Act)
Explanation:
The Immigration Reform and Control Act (IRCA) forbids employers from recruiting/hiring any foreign citizen that doesn't have a proper work authorization. That means that all Centinix's employees should have a green card.
The Fair Labor Standards Act (FLSA) sets the federal standards for minimum wage, overtime pay, record keeping, and child labor. This includes any full time or part time worker employed by Centinix.
Whistle Stop pays a constant annual dividend of $4 on its stock. The company will maintain this dividend for the next 3 years and will then cease paying dividends forever. What is the current price per share if the required return on this stock is 15.6 percent
Answer:
$9.04
Explanation:
Calculation for the current price per share
Using this formula
P0 = Annual dividend[1 − (1/1+Required return)]/ Required return
Let plug in the formula
P0=$4[(1- (1/1+0.156)]/.156
P0 = $4[1 − (1/1.1563)]/.156
P0 = $9.04
Therefore the current price per share will be $9.04
Kate decides to issue cash dividends on both the common stock and the preferred stock. Currently there are 50 outstanding preferred shares and 500 common shares outstanding. The dividends that Kate paid were $6 per share on the preferred shares and $2 per share on the common shares. Provide the journal entry for the payment of the cash dividends.
Answer:
Journal Entry for both type of shares is given below
Explanation:
DATA
Preference shares = 50
Common shares = 500
Dividend for preference shareholders = $6/share
Dividend for Common shareholders = $2/share
Entry DEBIT CREDIT
Dividend (for preference shares) $300
Dividend (for common shares) $1000
Cash $1,300
Working
Preference shares dividend = 50 x $6/share = $300
Common shares dividend = 500 x $2/share = $1000
One of the least desirable and routine tasks members of your team must do is taking minutes (notes) at team meetings. Proof that this task is disagreeable can be seen in the repeated arguments among team members before every meeting about who should take the minutes. Which of the following would be the most effective way for the team to address this stuation?
A. Ask your manager to decide in order to minimize any personal bias among team members.
B. Randomly assign a person to bé the official note taker at the beginig of each meeting
C. Create a rotating assignment so each team member shares note taking.
D. Assign note taking to whichever person enters last at each
Answer:
C. Create a rotating assignment so each team member shares note taking.
Explanation:
In the case noted in the question above, there is a situation that could be unpleasant if it were decided by some type of bias.
Therefore, the most appropriate alternative for the team to address this situation would be to create a rotating assignment for each team member to share the notes. This way it would not happen that a team member is always chosen to perform a task that causes dissatisfaction in the whole team. Creating a rotating assignment to carry out the task would guarantee the uniformity of the task assignment and avoid possible dissatisfactions, inequalities and interpersonal conflicts that could arise.
A simple random sample of 20 observations is derived from a normally distributed population with a known standard deviation of 3.2. You may find it useful to reference the z table.
a. Is the condition that X−X− is normally distributed satisfied?
Yes
No
b. Compute the margin of error with 95% confidence. (Round intermediate calculations to at least 4 decimal places. Round "z" value to 3 decimal places and final answer to 2 decimal places.)
c. Compute the margin of error with 90% confidence. (Round intermediate calculations to at least 4 decimal places. Round "z" value to 3 decimal places and final answer to 2 decimal places.)
d. Which of the two margins of error will lead to a wider interval?
The margin of error with 95% confidence.
The margin of error with 90% confidence.
Answer:
1. It is satisfied
2. 1.4
3. 1.18
4. 95% confidence is wider
Explanation:
1. It is normally distributed since n<30
2. Margin of error with 95% confidence
= Alpha = 1 - 0.95
= O.05
Alpha/2 = 0.025
Z(0.025) = 1.960
Margin of error = z(1.960)*SD/√n
= 1.960*(3.2/√20)
= 1.960 x 0.7156
= 1.4025
Approximately 1.4
3. At 90%
Alpha = 1 -0.9
= 0.10
Alpha/2 = 0.05
Z(0.05) =1.645
E = 1.645 x 3.2/√20
= 1.645 x 0.7176
= 1.177
Approximately 1.18
4. From the calculations in 2 and 3 it is obvious that the margin of error with 95% confidence interval is wider.
The Watkins Company is decentralized, and divisions are considered investment centers. Watkins specializes in sports equipment, and one division manufactures netting that is used for basketball hoops, soccer goals, and other sports equipment. The Netting Division reports the following information for a heavy-duty basketball hoop net:
Sales Price per Unit $18
Variable Cost per Unit 6
Contribution Margin per Unit 12
The Basketball Equipment Division can purchase a similar heavy-duty net from an outside vendor for $15.
Required:
a. Determine the negotiable range for the transfer price.
b. What is the minimum transfer price the Netting Division should consider if operating at capacity?
c. What is the maximum transfer price the Basketball Equipment Division should consider?
Answer and Explanation:
a. The negotiable range for the transfer price is lies between the $6 and $18 as the netting division is suffering from losses if the selling price is less than the variable cost per unit but at the same time the maximum price for transferring the product is equivalent to the selling price i.e $18
b. The minimum transfer price is $18 in the case when operating at capacity if it is below than the minimum transfer price is $6
c. The maximum transfer price should be equivalent to the purchase price that is purchased from the outside vendor i.e $15
A local county is considering purchasing some dump trucks for the trash pickups. Each truck will cost $55,000 and have an operating and maintenance cost that starts at $18,000 the first year and increases by $3,000 per year. Assume the salvage value is $12,000 at the end of 5 years and the interest rate is 10%. The equivalent annual cost of owning and operating each truck is most nearly equal to
Answer:
35,972
Explanation:
The equivalent annual cost can be calculated dividing NPV by the annuity factor
In order to find NPV first
Year1 Year2 Year3 Year4 Year5 Total
Operating and
Maintenance 18000 21000 24000 27000 30000 -
Discount factor(10%) 0.909 0.826 0.751 0.683 0.620 -
Discounted CFs 16362 17346 18024 18411 18600 88,713
Salvage 12000
Discount factor(10%) 0.620
Discounted salvage 7440 (7440)
Inital Cost (55,000) (55,000)
NPV 136,333
Calculation for EAC
NPV = 136,333
Annuity factor for 5 years = 3.790
Equivalent annual cost = NPV /Annuity factor
Equivalent annual cost = 136,333/3.790
Equivalent annual cost = 35,972
A manufacturing company has variable overhead costs of $2.50 per unit and fixed costs of $5,000 per month. Each unit requires 4 hours of direct labor and the company expects to produce 2,000 units each month. The standard overhead rate will be
Answer:
Standard Overhead rate is $1.25 per Direct labor hours
Explanation:
Total variable cost (2000 unit * $2.50) = $5,000
Total fixed cost = $5,000
Estimated Overhead cost = $10,000
Estimated Direct labor hour = 2000 unit * 4 hours = 8,000 hours
Standard Overhead rate = Estimated overhead cost / Estimated Direct labor hour
Standard Overhead rate = $10,000 / 8,000 hours
Standard Overhead rate = $1.25 per Direct labor hours
Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit ________.
Answer:intersect
Explanation:
The optimal order quantity is also referred to as the economic order quantity. It is used to know the optimal quantity that need to be ordered in order to avoid wastage and also reduce cost. It is a cost-effective strategy.
Optimal order quantities exist when the curves for the order-processing cost per unit and inventory-carrying cost per unit intersect.
The management of Nebraska Corporation is considering the purchase of a new machine costing $490,000. The company's desired rate of return is 10%. The present value factors for $1 at compound interest of 10% for 1 through 5 years are 0.909, 0.826, 0.751, 0.683, and 0.621, respectively. In addition to the foregoing information, use the following data in determining the acceptability: Year Income from Operations Net Cash Flow 1 $100,000 $180,000 2 40,000 120,000 3 40,000 100,000 4 10,000 90,000 5 10,000 120,000 The average rate of return for this investment is a.58% b.16% c.10% d.18%
Answer:
The average rate of return of this investment is 8%.
Note: Based on the information provided in the question, the average rate of return of this investment is 8% but it is not included in the option. Kindly confirm this from your teacher.
Explanation:
Note: The data in the question are merged and they therefore first sorted before answering the question as follows:
Year Income from Operations Net Cash Flow
1 $100,000 $180,000
2 40,000 120,000
3 40,000 100,000
4 10,000 90,000
5 10,000 120,000
The explanations to the answer is now given as follows:
Calculation of the average rate of return for this investment
Average rate of return (ARR) is a financial ratio that is used to determine the rate of return that is expected from an asset over its lifetime. ARR is calculated as the total income from the assets divided by the initial investment on the assets.
The average rate of return for this investment can be calculated as follows:
Total income form operations over five years = $100,000 + $40,000 + $40,000 $ $10,000 + $10,000 = $200,000
Average income = Total income form operations over five years / Number of years = $200,000 / 5 = $40,000
Average rate of return for this investment = Average income / Cost of Machine = $40,000 / $490,000 = 0.08, or 8%
Therefore, the average rate of return is 8%.
Someone offers to buy your car for four, equal annual payments, with the first payment coming 2 years from today. If you think that you could sell your car to another purchaser for an immediate payment of $9,000 and the interest rate is 10%, what is the minimum annual payment that you would accept from this buyer?
Answer:
4i8484884858585848484i
Your portfolio is comprised of 30 percent of stock X, 25 percent of stock Y, and 45 percent of stock Z. Stock X has a beta of 1.16, stock Y has a beta of 1.47, and stock Z has a beta of 0.42. What is the beta of your portfolio
Answer:
The beta of your portfolio is 0.9045
Explanation:
Hope this help :D
Beck Kubiak wishes to purchase new appliances for her home. The total cost for the appliances is $2,900. To finance the purchase, Becky must pay 20% down, with the balance being financed with a 24-month installment loan with an APR of 8.5%. Determine Becky's total finance charge and her monthly payment
Answer:
total finance charge = $203.08
her monthly payment = $105.13
Explanation:
The Loan amount = Cost of Appliance - Down Payment
= $2,900 - ($2,900 × 20%)
= $2,320
Change the APR to nominal compounding,
Using a Financial Calculator, this will be :
8.50 % Shift EFF%
12 Shift P/YR
Shift NOM % = 8.19%
Then calculate the monthly payment as follows :
Pv = $2,320
n = 24
p/yr = 12
r = 8.19%
Fv = $0
PMT = ?
Using a Financial Calculator, monthly payment, PMT is $105.13
Total Finance Charge will then be obtained from the amortization schedule from the First Period to the 24th Period and this will be : $203.08.
The current spot exchange rate Singapore dollar against U.S. dollar (SGD/USD) is 0.6000. After considerable study, an investor concluded that the Singapore dollar will appreciate against the U.S. dollar in the coming 90 days, probably to about 0.7000. She has the following options on the Singapore dollar to choose from:
Option Strike price Premium
Put on SGD 0.6500 0.00003
Call on SGD 0.65 0.00046
1. Should the investor buy a put on Singapore dollars or a call on Singapore dollars?
2. What is the investor's break-even price on the option purchased in part a?
3. Using your answer from part a, what is the investor's gross profit and net profit (including premium) if the spot rate at the end of 90 days is indeed 0.7000?
4.Using your answer from part a, what is the investor's gross profit and net profit (including premium) if the spot rate at the end of 90 days is 0.8000?
Answer:
i) Investor should buy a call option as expected spot price on SGD after 90 days is 0.7 which less than the strike price 0.65 under call option.
II) Break-even price on option selected
Strike price under call option 0.65000
Add : Premium 0.00046
Break even price 0.65046
iii) Actual spot rate after 90 days 0.70000
Less: Strike price under call option 0.65000
Gross profit 0.05000
Less: Call option premium 0.00046
Net profit 0.04954
iv) Actual spot rate after 90 days 0.80000
Less: Strike price under call option 0.65000
Gross profit 0.15000
Less: Call option premium 0.00046
Net Profit 0.14954
The managerial purpose of setting objectives include: Select one: a. Converting the strategic vision into specific performance targets b. Establishing deadlines for achieving performance results c. Challenging the organization to perform at full potential and deliver the best results d. All of these
Answer: d. All of these
Explanation:
Objectives are very important in ensuring that a company achieves that which it wants to achieve. With an objective in mind, the company is able to set deadlines that it can work towards to enable it achieve performance results. Without objectives, there would be no aim in sight to work towards which means that performance cannot truly be measured.
Objectives also help turn a company's strategic vision into actual performable targets which will enable the company achieve its long term goals by breaking the activities into doable segments.
Finally with an objective in mind, employees will be spurred towards it which will enable them to try to perform at full potential and deliver the best results so that they may reach the objectives set.
Say the marginal tax rate is 30 percent and that government expenditures do not change with output. Say also that the economy is at potential output and that the deficit is $200 billion.Required:a. What is the size of the cyclical deficit?b. What is the size of the structural deficit?c. How would your answers to a and b change if the deficit was still $200 billion but output was $200 billion below potential?d. How would your answers to a and b change if the deficit was still $200 billion but output was $100 billion above potential?
Answer:
a. The Cyclical deficit refers to the deficit arising from the difference between the potential output and the actual output.
The question assumes that the economy is producing at potential which means actual output equals potential output.
Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)
Cyclical Deficit = 0.3 * 0
Cyclical Deficit = $0
b. Structural deficit occurs even when the economy is at potential because it refers to Government deficits that happen when the economy is experiencing normal activity.
Structural Deficit = Actual deficit - Cyclical deficit
Structural Deficit = 200 billion - 0
Structural Deficit = $200 billion
c. Output is $200 billion below potential
Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)
Cyclical Deficit = 0.3 * 200
Cyclical Deficit = $60 billion
Structural Deficit = Actual deficit - Cyclical deficit
Structural Deficit = 200 billion - 60
Structural Deficit = $140 billion
d. Output is $100 billion above potential
Cyclical Deficit = Tax rate * ( Potential Output - Actual Output)
Cyclical Deficit = 0.3 * -100 as actual is above potential
Cyclical Deficit = -$30 billion
Structural Deficit = Actual deficit - Cyclical deficit
Structural Deficit = 200 billion - (-30)
Structural Deficit = $230 billion
The expected average rate of return for a proposed investment of $625,000 in a fixed asset with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $250,000 for the 5 years, is which of the following?
a.16%
b.50%
c.40%
d.18%
Answer:
C. 40%
Explanation:
Brik Products, located in Atlanta, Georgia, produces two lines of electric toothbrushes, Deluxe and Standard. Because Brik can sell all the toothbrushes it produces, the owners are expanding the plant. They are deciding which product line to emphasize. To make the decision, they assemble the following data.
Per Unit
Deluxe Toothbrush Standard Toothbrush
Sales price $94 $54
Variable expenses 22 16
Contribtion margin $72 $36
Contribution margin ratio 75.5% 70.4%
Requirements:
1) Identify the constraining factor for Brik products.
2) Prepare an analysis to show which product line to em
Complete Question:
Brik Products, located in Atlanta, Georgia, produces two lines of electric toothbrushes: Deluxe and Standard. Because Brik can sell all the toothbrushes it produces, the owners are expanding the plant. They are deciding which product line to emphasize. To make this decision, they assemble the following data:
Per Unit
Deluxe Toothbrush Standard Toothbrush
Sales price $94 $54
Variable expenses 22 16
Contribution margin $72 $36
Contribution margin ratio 75.5% 70.4%
After expansion, the factory will have a production capacity of 4.200 machine hours per month. The plant can manufacture either 68 Standard electric toothbrushes or 26 Deluxe electric toothbrushes per machine hour.
Requirements:
1. Identify the constraining factor for Brik Products.
2. Prepare an analysis to show which product line to emphasize.
Answer:
Brik Products
1. The constraining factor for Brik Products is the 4,200 machine hours.
2. Analysis to show which product line to emphasize:
Product Mix Analysis
Deluxe Standard
Sale price $94 $54
Variable expense 22 16
Contribution margin per unit $72 $38
Number of toothbrushes per hour 26 68
Total contribution margin per hour $1,872 $2,584
Decision: Brik Products should emphasize the production and sale of the Standard electric toothbrushes as this rakes in more contribution per the constraining factor, i.e. machine hours.
Explanation:
a) Data and Calculations:
Deluxe Standard
Sale price $94 $54
Variable expense 22 16
Contribution margin per unit 72 38 (not $36)
Contribution margin ratio 76.6% (not 75.5%) 70.4%
Number of toothbrushes per hour 26 68
Machine hours available = 4,200 hours
b) Analysis:
For Brik Products, the contribution margin per machine hour = contribution per unit x units per hour. Brik will generate a total contribution margin per product line without producing the other that is equal to the contribution margin per machine hour multiplied by total machine hours.
Assuming that Brik Products concentrates on the production of the standard electric toothbrushes alone, it will generate a total contribution margin of $10,852,800 ($2,584 x 4,200) as against the total contribution margin of $7,862,400 ($1,872 x 4,200) to be generated if only Deluxe electric toothbrushes are produced.
A company has a merit pay plan based on the relative performances of workers teams. Each worker is a team gets the same wage as other team members, but those in more productive teams get higher wages. Which of the following would NOT explain why this incentive might be better than other methods for motivating workers to work harder?
A) If a worker works harder, it increases the productivity of other team members.
B) If a team works harder, it does not affect the productivity of other teams.
C) One worker can easily sabotage the productivity of other workers.
D) One team can easily sabotage the productivity of other teams.
Answer:
C) One worker can easily sabotage the productivity of other workers.
Explanation:
This is a form of compensation by merit that comprises the performance of a team as a whole, so this is a way of motivating both group work and individual work.
In the scenario above, we can see that this compensation plan would be effective in leveraging the performance of individual workers, and of teams, because if each member of the team is more productive, it will benefit the team as a whole. And this method will not affect the productivity of other teams, as each team will be encouraged and engaged to do the best job possible to achieve merit pay.
The alternative that does not correspond to the question that this incentive may be better than other methods to motivate workers to work harder, is the one that says that a worker can sabotage the productivity of other workers, as that worker is also likely to be engaged in not sabotaging the work of other team members, as the remuneration bonuses depend on the effort of the entire team to work together, and not just one employee.
Various financial data for SunPath Manufacturing for 2015 and 2016 follow. 2015 2016 Output: Sales $ 300,000 $ 330,000 Inputs: Labor $ 40,000 $ 43,000 Raw Materials: $ 45,000 $ 51,000 Energy: $ 10,000 $ 9,000 Capital Employed: $ 250,000 $ 262,000 Other: $ 2,000 $ 6,000 What is the percentage change in the multifactor labor and raw materials productivity measure for SunPath between 2015 and 2016
Answer:
% change in multi-factor productivity = 2.88%
% change in raw materials productivity = -2.94%
% change in labor productivity = 2.33%
Explanation:
2015 2016
Output:
Sales $300,000 $330,000Inputs:
Labor $40,000 $43,000 Raw Materials: $45,000 $51,000 Energy: $10,000 $9,000 Capital Employed: $250,000 $262,000 Other: $2,000 $6,000multi-factor = total output / (labor costs + materials costs + overhead costs)
MFP 2015 = $300,000 / ($40,000 + $45,000 + $10,000 + $250,000 + $2,000) = 0.8646
MFP 2016 = $330,000 / ($43,000 + $51,000 + $9,000 + $262,000 + $6,000) = 0.8895
% change = (0.8895 - 0.8646) / 0.8646 = 0.0288 = 2.88%
raw materials productivity = total output / materials costs
raw materials productivity 2015 = $300,000 / $45,000 = 6.6667
raw materials productivity 2016 = $330,000 / $51,000 = 6.4706
% change = (6.4706 - 6.6667) / 6.6667 = -0.0294 = -2.94%
labor productivity = total output / labor costs
labor productivity 2015 = $300,000 / $40,000 = 7.5
labor productivity 2016 = $330,000 / $43,000 = 7.6744
% change = (7.6744 - 7.5) / 7.5 = 0.0233 = 2.33%
BMM Industries pays a dividend of $2 per quarter. The dividend yield on its stock is reported at 4.8%. What is the stock price?
What is the expected annual capital gain yield for Orange Corp stock, based on the Constant Dividend Growth Model
Complete Question:
What is the expected annual capital gain yield for Orange Corp stock, based on the Constant Dividend Growth Model? The company plans to pay an annual dividend of of $4.12 per share in one year. The expected annual growth rate of the dividend is 12.9%, and the required rate of return for the stock is 16.63%. Answer as a percentage, 2 decimal places (e.g., 12.34% as 12.34).
Answer:
12.9%
Explanation:
As we know that:
Capital Gain Yield = (P1 - P0) / P0
Step 1: Find P0
Po = D1 / (Ke - g)
Here
D1 is $4.12 per share
Ke is 16.63%
g is 12.9%
By putting values, we have:
Po = $4.12 / (16.63% - 12.9%)
= $110.46
Step 2: Find P1
P1 = D2 / (Ke - g)
Here
D2 = D1 * (1 + 12.9%) = $4.12 per share * (1 + 12.9%) = $4.65
Ke is 16.63%
g is 12.9%
By putting values, we have:
Po = $4.65 / (16.63% - 12.9%)
= $124.70
Step3: Find Annual Capital Gain Yield
Capital Gain Yield = (P1 - P0) / P0
Now by putting values, we have:
Capital Gain Yield = ($124.7 - $110.46) / $110.46
= 12.9%
3. “The International Monetary Fund (IMF) and the World Bank are two institutions that have outlived their usefulness”. Do you agree?
Answer:
“The International Monetary Fund (IMF) and the World Bank"
Have they outlived their usefulness?
No.
The IMF and the World Bank have not outlived their usefulness. They remain very useful and relevant to our world today. The problem they have experienced stem in part from the neglect of their purposes, because of the near-absence of the grassroot touch. They can refocus on their purposes and reduce elitistism, and then they continue to be useful.
But, they cannot rediscover and concentrate on their purposes without the cooperation of member-countries. Recalcitrancy does not allow any organized institutions without police power to function at their best. Member-countries must learn to cooperate with these bodies to achieve their purposes. There is still global poverty ravaging the world population, even among the rich and developed countries of the world.
In most developing countries, their national governments are traditionally entrenched as anti-developmental. While they make long and meaningless speeches at world fora, back home they do not walk their talk and so often renege on their promises. This is why it seems that the impact of these world bodies are not being felt. National governments must be able to show responsibility to allow the effects of monetary policies and agreements to benefit the poor and the vulnerable.
Explanation:
The World Bank is an international body of the United Nations with about 189 member-countries. It works with developing countries to reduce poverty, increase access to wealth, and promote global prosperity. The IMF is responsible for ensuring that the international monetary system is operational and stable to ginger sustainable global economic growth.
The Medicare Supplement Right of Return Provision (Free Look Period) allows the buyer a period of ________ to return a policy and receive a full refund.
Answer:
30 days
Explanation:
This right of return provision allows the buyer a period of 30 days. This period is referred to as the free look period. It is a must that these Medicare supplement policies have notices that that are boldly written on the number one page of the policy that states that the policy holder have the right to return the policy during a period of 30 days from when it was delivered and for the person to receive full refund.
Fiedler's contingency model of leadership has made an important and lasting contribution to the study of leadership because it: Group of answer choices suggests that organizations need to engineer the situation to fit the leader's preferred style. is the only theory to adopt the implicit leadership perspective. was the first theory to recognize the existence of leadership substitutes. discovered that effective leaders do not have a common set of competencies. is the only leadership theory to adopt a contingency approach.
Answer:
suggests that organizations need to engineer the situation to fit the leader's preferred style.
Explanation:
Fiedler is of the view that a person's leadership style is a product of experiences throughout their lifetime. So it is difficult to change it.
He suggested that instead of teaching a particular leadership style and forcing people to align with them, it is better to adjust the situation to an individual's leadership style.
The weakness of this is that the leader may be more effective in a particular situation and weak in another one
Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: The Marketing Department has estimated sales as follows for the remainder of the year (in units): July 30,000 October 20,000 August 70,000 November 10,000 September 50,000 December 10,000 The selling price of the beach umbrellas is $12 per unit. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectibleSales for June totaled $300.000. c. The company maintains finished goods inventories equal to 15% of the following month's sales. This requirement will be met at the end of June. d. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 5096 of the following month's production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: June 30 72,000 feetSeptember 30 ___ feete. Gilden costs $0.80 per foot. One-half of a month's purchases of Gilden is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $76,000. Required: 1. Prepare a sales budget, by month and in total, for the third quarter. (Show your budget in both units and dollars.) Also prepare a schedule of expected cash collections, by month and in total, for the third quarter. 2. Prepare a production budget for each of the months July-October. 3. Prepare a direct materials budget for Gilden, by month and in total, for the third quarter. Also prepare a schedule of expected cash disbursements for Gilden, by month and in total, for the third quarter.
Answer:
1(a). Budgeted sales value are as follows:
July = $360,000
August = $840,000
September = $600,000
Third Quarter = $1,800,000
1(b). Total scheduled cash collection are as follows:
July = $303,000
August = $486,000
September = $726,000
Third Quarter = $1,515,000
2. Units of production required are as follows:
July = 36,000 units
August = 67,000 units
September = 45,500 units
October = 18,500 units
3(a). Units of raw materials required to be purchased are as follows:
July = 206,000 units
August = 225,000 units
September = 128,000 units
Third Quarter = 559,000 units
3(b). Total Scheduled Cash Disbursement are as follows:
July = $158,400
August = $172,400
September = $141,200
Third Quarter = $472,000
Explanation:
Note: The data in the question are merged together. They are therefore first sorted before answering the question. See the attached Microsoft word file for the full question with the sorted data.
Also note: For all the budgets and schedules related to questions 1 to 3, see the attached excel file.
Petrus Framing's cost formula for its supplies cost is $1,700 per month plus $8 per frame. For the month of March, the company planned for activity of 610 frames, but the actual level of activity was 613 frames. The actual supplies cost for the month was $6,870. The activity variance for supplies cost in March would be closest to:
Answer:
The activity variance for supplies cost in March would be closest to $24 (Unfavorable)
Explanation:
The activity variance for supplies cost in March is calculated below
Activity variance = Planning Budget - Flexible Budget
= ($1,700 + ($8 * 610)) - ($1,700 + ($8 * 613))
= ($1,700 + $4,880) - ($1,700 + $4,904)
= $6,580 - $6,604
= $24U
The flexible budget is greater than the planning budget. Therefore, the variance is unfavorable (U)
If the Board of Governors of the Federal Reserve increases the reserve requirement then the money supply will decline. True False
Answer:
i think the answer is true please let me know if it is incorrect
Explanation:
