Answer:
only price and quantity matter in determining supply
all other determinants of supply are held constant
Explanation:
At the time of constructing the supply schedule, only price and quantity should be considered and other factors should remain the same because the factors that impacts the supply other than the price so it shifted the supply curve but when only the price changed so there should be the movement also law of supply represent the direct relationship between tfhe price and the supply
May 1. Sold merchandise on account to Taiwan Palace Co., $36,000. The cost of the merchandise sold was $23,540. Aug. 30. Received $10,380 from Taiwan Palace Co. and wrote off the remainder owed on the sale of May 1 as uncollectible. Dec. 8. Reinstated the account of Taiwan Palace Co. that had been written off on August 30 and received $25,620 cash in full payment. Required: Journalize the above transactions in the accounts of Arizona Interiors Company, a restaurant supply company that uses the allowance method of accounting for uncollectible receivables. Refer to the chart of accounts for the exact wording of the account titles. KNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. KNOW journals will automatically indent a credit entry when a credit amount is entered.
Answer: See explanation
Explanation:
The journal entry will be prepared as follows:
May 1:
Dr Account receivable $36000
Cr Sales $36000
(To record sales)
Dr Cost of goods sold $23540
Cr Inventory $23540
(To record cost of goods sold)
August 30:
Dr Cash $10380
Dr Allowance for doubtful accounts $25620
Cr Account receivable $36000
(To record collection and written off)
December 8:
Dr Account receivable $25620
Cr Allowance for doubtful accounts $25620
(To record reinstatement)
Dr Cash $25620
Cr Account receivable $25620
(To record collection)
Direct Materials Variances Bellingham Company produces a product that requires 12 standard pounds per unit. The standard price is $7 per pound. If 2,700 units used 31,100 pounds, which were purchased at $7.28 per pound, what is the direct materials (a) price variance, (b) quantity variance, and (c) cost variance? Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. a. Direct materials price variance $fill in the blank 1 b. Direct materials quantity variance $fill in the blank 3 c. Direct materials cost variance $fill in the blank 5
Answer and Explanation:
The computation is shown below:
a.
Direct material price variance is
= ($7 - $7.28) × 31,100
= $8,708 Unfavourable
b.
Direct material quantity variance is
= (2,700 × 12 - 31,100) × $7
= $9,100 Favourable
c.
Direct material cost variance is
= $9,100 - $8708
= $392 favorable
In this way, it should be calculated
ABC Company has two products: A and B. The company uses activity-based costing. The estimated total cost and expected activity for each of the company's three activity cost pools are as follows:
Expected activity cost
Activity Estimated cost Product A Product B Total
Activity1 $22,000 400 100 500
Activity2 $16,240 380 200 580
Activity3 $14,600 500 250 750
The activity rate under the activity-based costing system for Activity 3 is closest to:
a. $70.45.
b. $28.87.
c. $19.47.
d. $58.40.
Answer:
it's c. $19.47
Explanation:
$14,600 divided by 750
Iron Company collects cash in full from a customer who purchased merchandise last month on credit. To record the receipt of cash, Iron Company should make the following entries in the general journal. (Check all that apply.) Multiple select question. Credit to Accounts Receivable Debit to Accounts Receivable Debit to Sales Credit to Cash Debit to Cash
Answer:
Credit to Accounts Receivable Debit to CashExplanation:
Accounts Receivable is an asset account that represents the cash owed to the company by customers who bought goods or services on credit.
When the credit is paid, the accounts receivable account will reduce and so will be credited because assets are credited when they reduce.
Cash on the other hand will be debited to show that it has increased as assets are debited when they increase.
The sale of bonds above face value:_________
a. is a rare occurrence.
b. will cause the total cost of borrowing to be less than the bond interest paid.
c. will cause the total cost of borrowing to be more than the bond interest paid.
d. will have no net effect on Interest Expense by the time the bonds mature.
Answer: B. will cause the total cost of borrowing to be less than the bond interest paid
Explanation:
It should be noted that when a bond is sold above the face value, this will result into the total cost of borrowings to be less than the bond Interest that was paid.
The reason for the above is due to the fact that the borrower will not be required to repay the bond premium when the bond matures at its maturity date.
Therefore, the correct option is B.
One key characteristic that is distinctive of an oligopoly market is that Group of answer choices the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve. the decisions of one seller often influence the price of products, the output, and the profits of rival firms. there is only one firm that produces a product for which there are no good substitutes. there are many sellers in the market and each is small relative to the total market.
Answer:
The decisions of one seller often influence the price of products, the output, and the profits of rival firms.
Explanation:
An oligopoly is a market structure where there are only a few sellers. Therefore, around two or more firms have control over the market. Collectively, they can influence the prices and supply.
This ultimately results in high-level competition between these sellers. Since there are a few sellers in the oligopoly structure, each of these company's profit levels not only depends on the decisions made by them but also on the decisions made by their rival firms.
Hence, option no. 3 "the decisions of one seller often influence the price of products, the output, and the profits of rival firms" is correct.
Fictional Corp has an on-premises cloud in their data center that is typically able to handle the normal workload. However, occasionally the company will make headlines on the news or one of its social media posts will go viral and cause a lot more traffic to its website. Which of the following would best help with the capacity issues that only happen occasionally in the most cost-effective manner?
a. Add more servers to the cloud in the data center
b. Use cloudbursting techniques
c. Migrate everything to a cloud service provider
d. Stop posting on social media
Answer:
C.
Explanation:
As they only need the extra space occasionally and in spikes, cloud bursting is the best solution to their problem.
Activity-based costing uses Group of answer choices departmental pools and a single cost driver. numerous cost pools and numerous cost drivers. one plantwide pool and a single cost driver. one plantwide pool and numerous cost drivers
Answer:
numerous cost pools and numerous cost drivers.
Explanation:
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, a direct cost can be defined as any expense which can easily be connected to a specific cost object such as a department, project or product. Some examples of direct costs are cost of raw materials, machineries or equipments.
On the other hand, any cost associated with the running, operations and maintenance of a company refers to indirect costs. Some examples of indirect costs are utility bill, office accessories, diesel etc.
An activity-based costing (ABC) can be defined as a method of costing that identifies the numerous activities in a business firm and assigns the cost of each activity to their respective drivers based on their consumptions.
Activity-based costing (ABC) uses numerous cost pools and numerous cost drivers.
Generally, an activity-based costing uses multiple cost pools such as manufacturing cost or customer services and multiple cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
Cost pool is simply the amount of money spent by a firm on a particular activity.
In activity-based costing, the activity rate for an activity cost pool is calculated by using the following formula;
Activity rate = total overhead cost/activity for the activity cost pool.
A company's interest expense is $20,000. Its income before interest expense and income taxes is $140,000. Its net income is $58,800. The company's times interest earned ratio equals:
Answer:
7 times
Explanation:
Interest expense = $20,000
Income before interest and tax = $140,000
Time interest earned ratio = Income before interest and tax / Interest expense
Time interest earned ratio = $140,000 / $20,000
Time interest earned ratio = 7 times
The contribution margin ratio of Candle Corporation's only product is 75%. The company's monthly fixed expense is $456,000 and the company's monthly target profit is $42,000. Required: Determine the dollar sales to attain the company's target profit
Answer:
the dollar sales to attain the company's target profit is $664,000
Explanation:
The calculation of the dollar sales is given below:
= (Monthly fixed expense + monthly target profit) ÷ contribution margin ratio
= ($456,000 + $42,000) ÷ 0.75
= $664,000
Hence, the dollar sales to attain the company's target profit is $664,000
The same should be considered and relevant
Which of the following is one of the value gaps that can undermine customer experiences and can damage relationships?
Service Quality Gaps
Psychological Gaps
Language Gaps
Physical Gaps
Operational Gaps
Transition Gaps
Answer:
Service Quality Gaps
Explanation:
Service Quality Gaps is one of the value gaps that can undermine customer experiences and can damage relationships.
This is because, customer satisfaction can be measured based on the service quality the customer receives, and if the customer is adequately satisfied, he would continue to patronise the company, but if he is not satisfied, it could damage relationships.
Listed here are product costs for the production of soccer balls. Identify each cost (a) as either fixed or variable and (b) as either direct or indirect by selecting the appropriate dropdowns.
Variable or Fixed Direct or Indirect Product Cost
1. Machinery depreciation (straight-line)
2. Rubber core for soccer balls
3. Insurance on factory
4. Factory rent
5. Needles used in stitching soccer balls
6. Leather covers for soccer balls
7. Annual flat fee paid for office security
TechPro offers instructional courses in e-commerce website design. The company holds classes in a building that it owns.
Identify each of TechPro's costs below as
(a) variable or fixed and (b) direct or indirect by selecting the appropriate dropdowns. Assume the cost object is an individual class. Variable or Fixed Direct or Indirect
1. Advertising
2. Salesperson salary
3. Instructional manuals for students
4. Monthly internet connection cost
5. Travel expenses for salesperson
6. Instructor wage (per class)
Answer:
Product Cost Variable Or fixed Direct or indirect
1. Rubber core for soccer ball Variable Direct
2. Thread to hold leather together Variable Indirect
3. Taxes on factory Fixed Indirect
4. Wages on Assembly workers Variable Direct
5. Machinery depreciation Fixed Indirect
6. Annual flat fees paid for office security Fixed Indirect
7. Leather cover for soccer balls Variable
You have just made your first $5,600 contribution to your retirement account. Assume you earn a return of 11 percent per year and make no additional contributions. a. What will your account be worth when you retire in 39 years
Answer:
the account be worth when you retire in 39 years is $327.932.30
Explanation:
The calculation of the account be worth when you retire in 39 years is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
= $5,600 × (1 + 0.11)^39
= $327,932.30
Hence, the account be worth when you retire in 39 years is $327.932.30
Which among the following statements is correct?
RPA is meant for automating the Robots in any field.
BluePrism is an open source tool used for robotic process automation.
Automation Anywhere is a partner tool used in automation in all the
layers of ITPA.
AppDynamics is used for Application Performance Monitoring.
Automics is a Capgemini homegrown tool used for automating the
monitoring activity.
Click Submit to verify your answer.
Submit
Answer:
The correct statement is:
AppDynamics is used for Application Performance Monitoring.
Explanation:
AppDynamics is one of the Application Performance Monitoring (APM) tools available in the market. AppDynamics builds dashboards to automatically correlate application performance to business outcomes. With its streamlined and integrated solution, it can be used for visualizing, monitoring, and managing every application component, giving the user-organization code-level visibility. Other Application Monitoring tools include Datadog, Raygun, Pingdom, and New Relic.
Proverbial Corp. signed a 6-year note relating to the purchase of a new delivery fleet; annual payments are due at the end of the year. Proverbial's effective interest rate is 8%. At the time of purchase, the company recorded the fleet at $200,000. At the end of the first year, the net book value has decreased to $160,000, while the carrying value of the note is $164,000. Interest expense relating to the second year should be
Answer:
$13,120
Explanation:
The interest expense attributable to the second year is the carrying value of the note at the beginning of second year(at the end of the first year) multiplied by the effective annual rate in order to determine the cost of the loan to the company
interest expense in year 2=$164,000*8%
interest expense in year 2=$13,120
The interest expense would be shown as financial charge in the income statement for the second year
Activity A is worth $100, is complete, and actually cost $150. Activity B is worth $500, is 75% complete, and has actually cost $400 so far. Activity C is worth $500, is 25% complete, and has actually cost $200 so far. What is the estimated cost at completion for this project, assuming current variances are typical of future variances?
Answer:
$1,375
Explanation:
Budget at completion = Worth of activity A + Worth of activity B + Worth of activity C
Budget at completion = $100 + $500 + $500
Budget at completion = $1,100
Earned value = Worth of activity A*% completed + Worth of activity B*% completed + Worth of activity C*% completed
Earned value = $100*100% + $500*75% + $500*25%
Earned value = $100 + $375 + $125
Earned value = $600
Actual cost = Actual cost of Activity A + Actual cost of Activity B + Actual cost of Activity C
Actual cost = $150 + $400 + $200
Actual cost = $750
Cost performance Index = Earned value / Actual cost
Cost performance Index = $600 / $750
Cost performance Index = 0.80
Cost performance Index = 80%
Estimate at completion = Budget at completion / Cost performance Index
Estimate at completion = $1,100 / 0.80
Estimate at completion = $1,375
Which would be your best opener for a speech to to the statisticians of an insurance company looking to expand from the United States to Canada?
a. Emily Carr says, "It's wonderful to feel the grandness of Canada in the raw." Let's put that grandness to work for company growth.
b. Comedian Jim Carey says, "My upbringing in Canada made me the person I am. I will always be proud to be a Canadian." Do you think we can break in to that market?
c. The US has 1000 tornadoes on average compared to Canada's 100. How does that matter to you and our company's expansion to Canada?
d. Did you realize there are 36 million people in Canada? Think about us expanding sales there.
Answer: D. Did you realize there are 36 million people in Canada? Think about us expanding sales there
Explanation:
The best opener for a speech to to the statisticians of an insurance company looking to expand from the United States to Canada will be:
"Did you realize there are 36 million people in Canada? Think about us expanding sales there".
The above opener will be a source of motivation, a form of encouragement that will make the statistician realise that there are many people in Canada and that the company will benefit and improve its sales when it's located there.
How can a visual representation board help a person meet their financial goals?
Answer:
Answer to the following question is as follows;
Explanation:
Our goals are displayed in front of you on a virtual communication or represent board. Everything we need is laid out in front of you, and you can see it in person. Your objectives must be in line with your actions.
A vision board is a collection of photographs that reflect one's aspirations and desires. Vision boards can also assist us in imagining a brighter future for ourselves. Imagining a brighter future might help you feel more cheerful and optimistic.
A visual representation board can help someone meet their financial goals because the goals would be displayed in front of you, everything laid out in front of you, assisting people to help imagine why you have goals set.
The process cost summary is prepared for the following reasons. (Check all that apply.) Multiple select question. To determine the cost of individual jobs To help department managers control costs To help factory managers evaluate department managers' performances To provide cost information for financial statements To determine the ending balance of the three inventory accounts
Answer:
The process cost summary is prepared for the following reasons:
To help department managers control costs
To help factory managers evaluate department managers' performances
To provide cost information for financial statements
Explanation:
Processing costing is used when production involves a series of sequential processes with high level of standardization. In such a production environment, the products are produced in batches, with the prime costs tracked to the department or production batch instead of to individual products or jobs.
Williams Company uses the weighted-average method in its process costing system.
The Packaging Department started the month with 400 units in process that were 80% complete, receiving 3,000 units from the Cutting Department. The packaging department had 300 units in process at the end of the period that are 50% complete.
All materials are added at the beginning of the process and conversion is added uniformly.
From the Packaging Department, units are transferred to Finished Goods.
For direct material, the equivalent units of production for the Packaging Department is ________.
Answer:
Equivalent units of production for the finishing department: 3250
Answer:
Actually, the answer is 3400 units
Explanation:
First, determine how many units were completed and transfered out of the Packaging Department:
Completed & transferred out
= Beginning work-in-process + Transferred in – Ending work-in-process
= 400 + 3,000 – 300
= 3,100 units completed and transferred
Next, calculate the equivalent units of production for direct material:
Completed units:
3,100 units
x
100%
=
3,100 EUP for direct materials
In process units:
300 units
x
100%
=
300 EUP for direct materials
Total EUP for direct materials
=
3,400 EUP for direct materials
For in process units, use 100% becuse the direct materials are added at the beginning of the process If the units are started, then 100% of the materials have been added.
In 2012 the minimum wage in Arizona was $7.65. If we assume the growth of this minimum wage is exponential and is growing at the rate of 2%, then the length of time until the minimum wage reaches d dollars is modeled by which formula:________
Answer:
I don't what should you do otherwise please marks me as brainliests.Y3K, Inc., has sales of $6,349, total assets of $2,965, and a debt-equity ratio of 1.20. If its return on equity is 15 percent, what is its net income
Answer:
$202.16
Explanation:
Calculation to determine net income
First step
ROE = .15 = (Profit margin)(Total asset turnover)(Equity multiplier) = (PM)(S / TA)(1 + D/E)
Profit margin = [(ROE)(TA)] / [(1 + D/E)(S)]
Profit margin = [(.15)($2,965)] / [(1 + 1.20)( $6,349)]
Profit margin =444.75/13968
Profit margin = .03184
Now let determine the Net income
Profit margin = .03184 = Net income / Sales
Net income = .03184($6,349)
Net income = $202.16
Therefore the net income is $202.16
Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 170,000 shares of $6 par value common stock. During 2021, Roberto had the following transactions relating to stockholders' equity: Issued 17,000 shares of common stock at $8 per share. Issued 34,000 shares of common stock at $9 per share. Reported a net income of $170,000. Paid dividends of $85,000. Purchased 3,500 shares of treasury stock at $11 (part of the 34,000 shares issued at $9). What is total stockholders' equity at the end of 2021? a. $930,500. b. $522,500. c. $488,500. d. $1,100,500.
Answer:
c. $488,500
Explanation:
The computation of the total stockholder equity at the end of 2021 is given below:
Common stock issued (17000 × 8) $136,000.00
Another common stock issue (34000 × 9) $306,000.00
Net income $170,000.00
Less: Dividends $(85,000.00)
Less: Treasury stock purchase (3500 × 11) ($38,500.00)
Total Stock holder equity $488,500.00
Identify each person in the below as structurally, frictionally, cyclically, or seasonally unemployed.
a. Neha is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
b. Lorenzo worked as a lifeguard in Virginia Beach during the busy summer months. Now that fall has arrived, he finds himself looking for work as a swim instructor.
c. Antonio worked as a lifeguard in Virginia Beach during the busy summer months. Now that fall has arrived, he finds himself looking for work as a swim instructor.
Answer:
she is cyclically unemployed
seasonal unemployment
seasonal unemployment
Explanation:
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
Neha is unemployed because of the recession, she is seasonally unemployed
Troy and Devon discuss adding an automobile detailing service at their convenience store based on their customers' point of view. Which of the following is a statement that a customer might consider regarding "promotion" in the marketing mix model?
a. Customers want a high-quality automobile detail service to have their cars cleaned.
b. Customers prefer to pay a fair amount of money to receive excellent service.
c. Customers want to know the benefits of using Troy's automobile detail service.
d. Customers prefer to use services that are near their work and home.
Answer:
c. Customers want to know the benefits of using Troy's automobile detail service.
Explanation:
since in the question it is mentioned that the troy and devon wants to discuss for adding up the detaling service of the automobile so here the promotion means that the customer wants to know about the benefits for using the automobile detailing service as this service is also at their convenience store
So, the option c is correct
Myers Company uses a flexible budget for manufacturing overhead based on direct labor hours. Variable manufacturing overhead costs per direct labor hour are as follows.
Indirect labor $1.00
Indirect materials 0.70
Utilities 0.20
Fixed overhead costs per month are Supervision $4,000, Depreciation $1,000, and Property Taxes $500. The company believes it will normally operate in a range of 7,000–10,600 direct labor hours per month. Prepare a monthly manufacturing overhead flexible budget for 2017 for the expected range of activity, using increments of 1,200 direct labor hours.
Answer:
Myers Company
A Monthly Manufacturing Overhead Flexible Budget for 2017:
Operating Ranges Per Hour 7,000 8,200 9,400 10,600
Variable costs:
Indirect labor $1.00 $7,000 $8,200 $9,400 $10,600
Indirect materials 0.70 4,900 5,740 6,580 7,420
Utilities 0.20 1,400 1,640 1,880 2,120
Total variable costs $13,300 $15,580 $17,860 $20,140
Fixed overhead costs per month:
Supervision $4,000 4,000 4,000 4,000 4,000
Depreciation $1,000 1,000 1,000 1,000 1,000
Property Taxes $500 500 500 500 500
Total fixed costs $5,500 $5,500 $5,500 $5,500
Total costs $18,800 $21,080 $23.360 $25,640
Explanation:
a) Data and Calculations:
Variable manufacturing overhead costs per direct labor hour:
Indirect labor $1.00
Indirect materials 0.70
Utilities 0.20
Total variable per unit = $1.90
Fixed overhead costs per month:
Supervision $4,000
Depreciation $1,000
Property Taxes $500
Operation range of direct labor hours = 7,000 - 10,600
Increments of direct labor hours = 1,200
Your company converted an existing account receivable in the amount of $5,000 to a note receivable to allow an extended payment period. The note is due in one year and includes an annual interest rate of 5%. The customer repays the principal at the maturity date. The entry to record the receipt of the principal includes a debit to: A. Notes Receivable and credit to Accounts Receivable. B. Cash and credit to Interest Receivable. C. Cash and credit to Notes Receivable. D. Notes Receivable and credit to Cash.
Answer: C. Cash and credit to Notes Receivable
Explanation:
The customer paid off the note at maturity with cash which means that the cash account should be debited because asset accounts are debited when they increase.
Notes receivables are treated like revenue which means that they are to be credited when they increase. In this case therefore, Notes receivable will be credited to show that they increased when the customer paid.
TeleGlobal is an American firm producing TV sets. TeleGlobal imports TV set components from India and assembles them domestically. Suppose that in the United States, a TV set sells for $400 and that 80% of the TV set’s value comes from the value of the imported components. The United States imposes a 40% tariff on TV sets and a 10% tariff on the TV set’s components. Assume that costs of producing components are the same in the United States and India and that transit costs are nonexistent. Based on the information provided, the effective rate of protection that TeleGlobal receives from the tariff is
Answer:
135 %
Explanation:
Given that,
The selling price of T.V. set in the U.S. = $400
The Tariff imposed on T.V. sets = 30%
The Tariff on its imported components = 10%
To find,
The effective rate of protection gained from tariff = ?
Method:
As we know
Effective rate of protection
= tariff on finished imported good + cost/price of its components * (tariff on imported good - tariff on components imported)/(price of final good - price of its components)
So, by putting the given values in above formulae;
= 40% + 80% of 400 * (40% - 10 %)/(400 - 80% of 400)
= 40 + 320 * (30)/(400 - 320)
= 360 * 30/(80)
= 360 * 30/80
= 135%
Occasionally, companies disappoint their customers. Whenever possible, these problems should be addressed immediately. Choose the best answer for the following question about handling customer problems. What is the first step you should take when a problem arises?
a. Call the individual customer.
b. Disguise the problem as a "technical error."
c. Explain to the customer What they did that caused the problem.
Answer: Call the individual customer
Explanation:
When handling customer problems such as disappointing customers, the first step that should be taken when such problem arises is to call the individual customer.
It's vital for companies to control damage and also resolve customer problems as soon as possible by calling the customer involved, tell them the problem that occurred and then apologize and tell them.how such problem has been resolved and assure them that such problem won't occur again. This is necessary in promoting goodwill.
What are 3 reasons why government spending should be increased?
