An investment offers $6,700 per year for 15 years, with the first payment occurring one year from now. a. If the required return is 6 percent, what is the value of the investment today

Answers

Answer 1

Answer: $65070

Explanation:

Based on the information given in the question, the value of the investment today will be:

= amount × pvaf , 1/(1+ rate )^t

= 6700 × pvaf (1/1+6%) ^15

= 6700 × pvaf (1/1.06)^15

= 6700 × 9.712

= $65070

Therefore, the value of the investment today is $65070


Related Questions

A statement of cash flows helps answer all of the following: (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply What explains the changes in the cash account?unanswered Where does a company spends its cash?unanswered How can the company improve its operations?unanswered How does a company receives its cash?unanswered What are the changes in the non-cash accounts?

Answers

Answer:

What explains the changes in the cash account?Where does a company spends its cash?How does a company receive its cash?

Explanation:

The Statement of Cash Flows shows the actual cash that a company has by showing the various places that cash comes in from and how cash leaves. It therefore shows how the cash account changes.

In showing how cash leaves the company, the statement shows how the company spends its cash and in showing how money comes in, the statement shows how the company receives its cash as well such as through investments in other companies and net income.

The Statement of Cash Flows depicts a company's actual cash flow by displaying where the money originates from and where it goes. As a result, it depicts the movement of the cash account.

The statement indicates how money left the company and how it gets in, such as through investments in other companies and net income.

So, Option A, B, and D are correct.

The other Options are incorrect as:

Option C is incorrect as a cash flow does not show how a company improves its operation it only shows the transactions.

Option E is incorrect as cash flow does not represent changes in noncash accounts as cash flow represents only cash transactions.

A cash flow is a physical or digital transfer of capital: a payment, notably from one central bank fund to another, is a cash flow in its restricted sense; the word 'cash flow' is primarily used to denote the transfer of funds from one central bank account to another.

Thus Options A, B, and D are correct statements for cash flow.

For more information about Cash Flow refer to the link:

https://brainly.com/question/10714011

The benefits of portfolio diversification are highest when the individual securities have returns that Group of answer choices Are counter-cyclical Vary indirectly with the rest of the portfolio Are uncorrelated with the rest of the portfolio Vary directly with the rest of the portfolio

Answers

Answer:

Are uncorrelated with the rest of the portfolio

Explanation:

Portfolio diversification is the process of holding different asset and security classes in order to minimise the non systemic risk of the portfolio

Non systemic risk are risks that can be diversified away. they are also called company specific risk. Examples of this type of risk is a manager engaging in fraudulent activities.

The highest benefit of diversification is when the securities are uncorrelated

Correlation is a statistical measure used to measure the relationship that exists between two variables.

1. Positive correlation : it mean that the two variables move in the same direction. If one variable increases, the other variable also increases.

For example, there should be a positive correlation between quantity supplied and price

When there is a positive correlation, the graph of the variables is upward sloping

2. Negative correlation :  it mean that the two variables move in different direction. If one variable increases, the other variable decreases.

For example, there should be a negative correlation between quantity demanded and price

When there is a negative correlation, the graph of the variables is downward sloping

3. Zero correlation : there is no relationship between the variables

Roosevelt Corporation has a weighted-average unit contribution margin of $30 for its two products, Standard and Supreme. Expected sales for Roosevelt are 40,000 Standard and 60,000 Supreme. Fixed expenses are $1,800,000. How many Standards would Roosevelt sell at the break-even point?
A. 36,000
B. 40,000
C. 60,000
D. 24,000

Answers

Answer:

D. 24,000

Explanation:

Calculation to determine How many Standards would Roosevelt sell at the break-even point

First step

Total sales = 40000 + 60000

Total sales= 100000 units

Second step

Standard = 40000 / 100000

Standard= 0.4

Third step

Supreme = 60000 / 100000

Supreme= 0.6

Fourth step

Overall break even in units = 1800000 / 30

Overall break even in units= 60000 units

Now let calculate the Standards sales at break even point

Standards sales at break even point = 60000 *

0.4

Standards sales at break even point =24000 units

Therefore the Standards sales at break even point is 24000 units

McBride's Dairy has 200 gallons of heavy cream and 600 gallons of skimmed milk and has incurred $1,000 of joint costs at the split-off point. It can sell each product at the split-off point or process it further in relatively similar processes, so management has decided that the most appropriate method for allocating joint costs is the market value at split-off point. One gallon of cream sells for $15, while one gallon of milk sells for $4. How much of the joint cost is allocated to cream

Answers

Answer:

$560

Explanation:

Calculation to determine How much of the joint cost is allocated to cream

Units Selling price Sales value Percentage of sales value Allocated cost

Cream (200*15=3,000) (3,000/5,400 = 56%)

(1,000 x 56% = $560)

Skimmed milk (600*4=2,400) (2,400/5,400 = 44%) (1,000 x 44% = $440)

Total $5,400 100% $1,000

($3,000+$2,400=$5,400)

(56%+44%=100%)

($560+$440=$1,00)

Therefore the joint cost allocated to CREAM is $560

Bill operates a proprietorship using the cash method of accounting, and this year he received the following: $140 in cash from a customer for services rendered this year a promise from a customer to pay $192 for services rendered this year tickets to a football game worth $230 as payment for services performed last year a check for $178 for services rendered this year that Bill forgot to cash How much income should Bill realize on Schedule C

Answers

Answer:

$548

Explanation:

Calculation to determine How much income should Bill realize on Schedule C

Income realized=$140+ $230 + $178

Income realized= $548

Therefore How much income should Bill realize on Schedule C is $548

Eileen transfers property worth $200,000 (basis of $190,000) to Goldfinch Corporation. In return, she receives 80% of the stock in Goldfinch Corporation (fair market value of $180,000) and a long-term note (fair market value of $20,000) executed by Goldfinch and made payable to Eileen. Eileen recognizes gain on the transfer of:______.a. $0.b. $10,000.c. $20,000.d. $190,000.e. None of the above.

Answers

Answer:

b. $10,000

Explanation:

Calculation to determine Eileen recognizes gain on the transfer

Recognized gain=Basis -Fair market value

Recognized gain=$190,000 -$180,000

Recognized gain=$10,000 gain

Therefore Eileen recognizes gain on the transfer of:$10,000

Income statement information for Einsworth Corporation follows: Sales $1,500,000 Cost of goods sold 900,000 Gross profit 600,000 Prepare a vertical analysis of the income statement for Einsworth Corporation.

Answers

Answer:

A vertical analysis income statement uses Sales as a base and makes everything else a percentage of sales.

                                            Vertical Analysis Statement

                                                     Amount                     Percentage

Sales                                       $1,500,000                         100%

Cost of Goods sold                ($900,000)                          60%

Gross Profit                               $600,000                          40%

Cost of Goods sold percentage = 900,000 / 1,500,000

= 60%

Gross Profit percentage = 600,000 / 1,500,000

= 40%


Discuss the two differences of Theory X and Y. Give example

Answers

key difference between theory X and theory Y

The life of a sole proprietorship is limited. A sole proprietor can generally raise large sums of capital quite easily. Transferring ownership of a sole proprietorship is easier than transferring ownership of a corporation. A sole proprietorship is taxed the same as a C corporation. A sole proprietorship is the most regulated form of organization.

Answers

Answer: The life of a sole proprietorship is limited.

Explanation:

A sole proprietorship simply means a one man business where the owner manages, controls the business and enjoys the profits alone.

A sole proprietorship has a limited liability as its life is limited. Normally, the death of the owner would result in the end of the business and the owner bears the loss alone.

A A sole proprietorship is not taxed the same as a C corporation and it isn't the most regulated form of organization.

The resource-based view of competitive advantage states that for something to yield competitive advantage it must be ______.

Answers

Answer:

"Rare, hard to duplicate, as well as non-substitutable" is the correct response.

Explanation:

Assesses as well as interprets companies' financial capabilities as well as stresses capacities and knowledge throughout the formulation of strategy to provides provision tangible benefits, is considered as RBV.Inputs that always encourage employees to exercise their business might be viewed as significant commodities.

Mohave Corp. makes several varieties of beach umbrellas and accessories. It has been approached by a company called Lost Mine Industries about producing a special order for a custom umbrella called the Ultimate Shade (US). The special-order umbrellas with the Lost Mine Company logo would be distributed to participants at an upcoming convention sponsored by Lost Mine.
Lost Mine has offered to buy 1,500 of the US umbrellas at a price of $11 each. Mohave currently has the excess capacity necessary to accept the offer. The following information is related to the production of the US umbrella:
Direct materials $5.00
Direct labor 2.00
Variable manufacturing overhead 3.50
Fixed manufacturing overhead 2.50
Total cost $13.00
Regular sales price $19.00
Required:
1. Compute the incremental profit (or loss) from accepting the special order.
2. Should Mohave accept the special order?
3. Suppose that the special order had been to purchase 2,000 umbrellas for $9.00 each. Recompute the incremental profit (or loss) from accepting the special order under this scenario.
4. Assume that Mohave is operating at full capacity. Calculate the special-order price per unit at which Mohave would be indifferent between accepting or rejecting the special order.

Answers

Answer:

Mohave Corp.

1. The incremental profit from accepting the special order is:

= $750.

2. Mohave should accept the special order.

Explanation:

a) Data and Calculations:

Special order quantity = 1,500

Special order price = $11 per unit

Direct materials                             $5.00

Direct labor                                      2.00

Variable manufacturing overhead 3.50  $10.50

Fixed manufacturing overhead                   2.50

Total cost                                                   $13.00

Regular sales price                                   $19.00

Relevant costs:

Direct materials                             $5.00

Direct labor                                      2.00

Variable manufacturing overhead 3.50  $10.50

Incremental Analysis:

Special order price =          $11.00

Variable cost per unit =     $10.50

Incremental profit per unit $0.50

Total incremental profit = $750 ( $0.50 * 1,500)

Suppose a chair manufacturer finds that the marginal rate of technical substitution​ (MRTS) of capital for labor in her production process is substantially than the ratio of the wage rate for​ assembly-line labor​ (w) to the rental rate on machinery​ (r). How should she alter her use of labor and capital to minimize the cost of​ production? Holding output​ constant, the chair manufacturer should use ▼ less more labor and ▼ more less capital.

Answers

Answer:

The chair manufacturer should use less labor and more capital.

Explanation:

Note: This question is not complete because the important word less is omitted. The complete question is therefore provided before answering the question as follows:

Suppose a chair manufacturer finds that the marginal rate of technical substitution (MRTS) of capital for labor in her production process is substantially less than the ratio of the wage rate for assembly-line labor (w) to the rental rate on machinery (r). How should she alter her use of labor and capital to minimize the cost of production? Holding output constant, the chair manufacturer should use [less/more] labor and [more/less] capital.

Explanation of the answer is now provided as follows:

The marginal rate of technical substitution (MRST) is the amount by which the quantity of one input must be reduced when one more unit of another input is used to keep output constant.

In order to minimize cost of production while holding output constant, when the MRTS of capital for labor is substantially greater than the ratio of w to r, it implies that less capital and more labor should be used; but when the MRTS of capital for labor is substantially less than the ratio of w to r, it implies that more capital and less labor should be used.

Based on the above explanation, the chair manufacturer should use less labor and more capital.

A car dealer acquires a used car for $14,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include
$250 for transportation-in.
$300 for shipping insurance.
$900 for car import duties.
$150 for advertising.
$1,250 for sales staff salaries.
$180 for trimming shrubs.
For computing inventory, what cost is assigned to the used car? Included in Inventory Cost Expensed as incurred Cost 14.000 900 Cost Transportation in Import duties Insurance during shipment Advertising Sales staff salaries 300 150 1,250 16.850S 0 $

Answers

Answer: $15,450

Explanation:

The inventory cost of the car is every cost that was incurred to get it to the car dealer and ready for sale.

Total inventory cost assigned is:

= Cost of car + transportation-in + shipping insurance + car import duties

= 14,000 + 250 + 300 + 900

= $15,450

The Gear Division makes a part with the following characteristics:
Production capacity 25,000 units
Selling price to outside customers $ 18
Variable cost per unit $ 11
Fixed cost, total $ 100,000
Motor Division of the same company would like to purchase 10,000 units each period from the Gear Division. The Motor Division now purchases the part from an outside supplier at a price of $17 each. Suppose that the Gear Division is operating at capacity and can sell all of its output to outside customers. If the Gear Division sells the parts to Motor Division at $17 per unit, the company as a whole will be:
a. better off by $10,000 each period.
b. worse off by $20,000 each period.
c. worse off by $10,000 each period.
d. There will be no change in the status of the company as a whole.

Answers

Answer:

Effect on income= -10,000

Explanation:

Giving the following information:

Production capacity 25,000 units

Selling price to outside customers $ 18

Variable cost per unit $ 11

Fixed cost, total $ 100,000

First, we need to calculate the unitary total production cost:

Total unitary cost= (100,000/25,000) + 11

Total unitary cost= $15

The company can sell all of its production to outside customers and gain $3 from the sale. But, by selling to the Motor Division, it gains $2.

Now, the effect on income:

Effect on income= increase in income by not buying the part - decrease in sales revenue for not selling to outside customers

Effect on income= 10,000*2 - 10,000*3

Effect on income= 20,000 - 30,000

Effect on income= -10,000


To keep your business plan up-to-date, it should be revised every
A-month.
B-6 months.
C-year.
D-other year.

Answers

Answer:

A-month

Explanation:

by revising it monthly, it is the most up to date and can be consistently helpful to you as well as organized.

C-year.

Entrepreneur.com recommends that you do a thorough update to your business plan at least once annually.

Rick and Joe get together and start a mortgage brokerage business. They each contribute $25,000 of capital to the business. After the first year of operation, the total owners' equity is listed as $60,000. Most likely, the additional $10,000 of owners' equity is

Answers

Answer: a common stock.

Explanation:

Following the information given in the question, the additional $10,000 of owners' equity will be regarded as a common stock.

Commission stock is regarded as a corporate equity ownership and each share of stock simply means the holder has a small portion of ownership of that particular company. Every addition in owner's equity is common stock.

The following information is available for Lock-Tite Company, which produces special-order security products and uses a job order costing system. April 30 May 31 Inventories Raw materials$35,000 $60,000 Work in process 9,000 20,900 Finished goods 67,000 34,300 Activities and information for May Raw materials purchases (paid with cash) 171,000 Factory payroll (paid with cash) 200,000 Factory overhead Indirect materials 8,000 Indirect labor 46,000 Other overhead costs 108,000 Sales (received in cash) 1,300,000 Predetermined overhead rate based on direct labor cost 55% Compute the following amounts for the month of May using T-accounts. Cost of direct materials used. Cost of direct labor used. Cost of goods manufactured. Cost of goods sold\.\* Gross profit. Overapplied or underapplied overhead. *Do not consider any underapplied or overapplied overhead.

Answers

Answer:

Lock-Tite Company

Cost of direct materials used = $138,000

Cost of direct labor used = $154,000

Cost of goods manufactured = $364,800

Cost of goods sold = $397,500

Gross profit = $902,500

Overapplied or underapplied overhead = $77,300

Explanation:

a) Data and Calculations:

                                            April 30    May 31

Inventories

Raw materials                    $35,000 $60,000

Work in process                     9,000   20,900

Finished goods                    67,000   34,300

Activities and information for May

Raw materials purchases (paid with cash) 171,000

Factory payroll (paid with cash) 200,000

Factory overhead

Indirect materials 8,000

Indirect labor 46,000

Other overhead costs 108,000

Sales (received in cash) 1,300,000

Predetermined overhead rate based on direct labor cost 55%

T-accounts:

Raw materials

Date      Account Titles            Debit       Credit

April 30 Beginning balance $35,000

May       Cash                         171,000

May       Work in Process                     $138,000

May       Manufacturing overhead            8,000

May 31   Closing balance                     $60,000

Payroll Expenses

Date      Account Titles            Debit       Credit

May       Cash                   $200,000

May       Manufacturing overhead           $46,000

May       Work in Process                       $154,000

Work in process

Date      Account Titles            Debit       Credit

April 30 Beginning balance $9,000

May       Raw materials       138,000

May       Payroll expenses  154,000

May       Overhead              84,700

May       Finished goods                    $364,800

May 31  Closing balance                     $20,900

Finished goods

Date      Account Titles            Debit       Credit

April 30 Beginning balance  $67,000

May       Work in process      364,800

May       Cost of goods sold                $397,500

May 31  Closing balance                       $34,300

Income Summary

Date      Account Titles            Debit       Credit

May 31  Sales revenue                       $1,300,000

May 31  Cost of goods sold $397,500

May 31  Gross profit            $902,500

Manufacturing Overhead

Date      Account Titles            Debit       Credit

May      Raw materials         $8,000

May      Payroll expenses    46,000

May     Other overhead     108,000

May     Work in Process                     $84,700 ($154,000 * 55%)

May     Underapplied overhead          77,300

Samson Company reported total manufacturing costs of $320000, manufacturing overhead totaling $52000, and direct materials totaling $64000. How much is direct labor cost

Answers

Answer:

Direct labor cost is like $184000

Explanation is not my nation

CompuTop Company sells toy laptop computers for $30 each. If the variable cost for each laptop is $20 and fixed costs total $25,000, how much sales in dollars must it sell to generate a target income of $66,667

Answers

Answer:

the sales in dollars sell to generate the target income is $183,334

Explanation:

The computation of the sales in dollars sell to generate the target income is shown below:

= (Fixed cost + target income) ÷ (selling price - variable cost) ÷ selling price

= ($25,000 + $66,667) ÷ ($30 - $20) ÷ $20

= $91,667 ÷ 50%

= $183,334

Hence, the sales in dollars sell to generate the target income is $183,334

Your subscription to BusinessWeek is about to expire. You plan to subscribe to the magazine for the rest of your life. You can renew it by paying $50 annually, beginning immediately, or you can get a lifetime subscription for $500, also payable immediately. Assuming that you can earn 6.525% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?
a) 7.48.
b) 8.80.
c) 10.35.
d) 12.18.
e) 14.33.

Answers

Answer: 15 years

Explanation:

The number of years that would make the lifetime subscription a better buy would be the one that would cause the present value of paying $50 per year to equal $500.

You can use the NPER function on Excel to find this out.

Rate = 6.525%

Pmt = 50

Pv = -500

Fv = 0

Type = 1 because payment begins immediately.

= 14.9997 years

= 15 years

High-Low Method, Cost Formulas The controller of the South Charleston plant of Ravinia, Inc., monitored activities associated with materials handling costs. The high and low levels of resource usage occurred in September and March for three different resources associated with materials handling. The number of moves is the driver. The total costs of the three resources and the activity output, as measured by moves for the two different levels, are presented as follows: Resource Number of Moves Total Cost Forklift depreciation: Low 5,000 $1,600 High 15,000 1,600 Indirect labor: Low 5,000 $74,000 High 15,000 136,000 Fuel and oil for forklift: Low 5,000 $3,550 High 15,000 10,650 Required: If required, round your answers to two decimal places. Enter a "0" if required. 1. Determine the cost behavior formula of each resource. Use the high-low method to assess the fixed and variable components. Forklift depreciation: V $ F $ Y $ Indirect labor: V $ F $ Y $ + $ X Fuel and oil for forklift: V $ F $ Y $ X 2. Using your knowledge of cost behavior, predict the cost of each item for an activity output level of 8,000 moves. Forklift depreciation $ Indirect labor $ Fuel and oil for forklift $ 3. Construct a cost formula that can be used to predict the total cost of the three resources combined. If required, round your answers to two decimal places. Materials handling cost = $ + $ X Using this formula, predict the total materials handling cost if activity output is 8,000 moves. Y = $.

Answers

Answer:

South Charleston Plant of Ravinia, Inc.

1. Cost behavior formula:

Forklift depreciation = $1,600 + $0q

Indirect labor = $43,000 + $6.20q

Fuel and oil for forklift = $3,550 + $0.71 (q - 5,000)

2. Cost of each item for an activity output level of 8,000 moves:

Forklift depreciation = $1,600

Indirect labor =  $92,600

Fuel and oil for forklift = $5,680

3. Total cost formula = $48,150 + $6.47q

Materials handling cost = $99,880

Explanation:

a) Data and Calculations:

Resource                        Number of Moves   Total Cost

Forklift depreciation:    

Low                                           5,000                $1,600

High                                        15,000                   1,600

Indirect labor:

Low                                          5,000             $74,000

High                                       15,000              136,000

Fuel and oil for forklift:

Low                                        5,000               $3,550

High                                      15,000               10,650

Cost behavior formula for each resource:

Forklift depreciation:

Low                                           5,000                $1,600

High                                        15,000                   1,600

Difference                              10,000                  $0

Variable cost per unit = $0 ($0/10,000)

Fixed cost = $1,600

Cost behavior formula = $1,600 + $0q

Indirect labor:

Low                                          5,000             $74,000

High                                       15,000              136,000

Difference                             10,000               62,000

Variable cost per unit = $6.20 ($62,000/10,000)

Fixed cost = $43,000 ($74,000 - ($6.20*5,000))

Cost behavior formula = $43,000 + $6.20q

Fuel and oil for forklift:

Low                                        5,000               $3,550

High                                      15,000               10,650

Difference                            10,000               $7,100

Variable cost per unit = $0.71 ($7,100/10,000)

Fixed cost = $3,550 ($3,0 - ($0.71 * (15,000 - 5,000))

Step cost

Cost behavior formula = $3,550 + $0.71 (q - 5,000)

Forklift depreciation = $1,600 + $0 * 8,000 = $1,600

Indirect labor = $43,000 + $6.20 * 8,000 = $92,600

Fuel and oil for forklift = $3,550 + $0.71 (8,000 - 5,000) = $5,680

Total cost formula:            Fixed   +  Variable

Forklift depreciation =      $1,600 + $0 * 8,000 = $1,600

Indirect labor =              $43,000 + $6.20 * 8,000 = $92,600

Fuel and oil for forklift = $3,550 + $0.71 (8,000 - 5,000) = $5,680

                                      $48,150 + $51,730 = $99,880

= $48,150 + $6.47q ($51,730/8,000)

Materials handling cost = ($1600 + $43000) + ($6.20 + $0.71) X

= $44600 + $6.91 X

Y = $44600 + ($6.91 x 8000)

= $44600 + $55280

= $99880

Consider the markets for three products below. Indicate which characteristics of a competitive market are met by these markets.

Market : Gasoline
a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers

Market: barbershop haircuts

a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers

Market: bicycles

a. Large number of buyers
b. Standardized good
c. Full information
d. No transaction cost
e. Participants are price takers

Answers

Answer:

Market : Gasoline

b. Standardized good

c. Full information

e. Participants are price takers.

Market : Barbershop haircuts

a. Large number of buyers

c. Full information

Market : Bicycles

a. Large number of buyers

b. Standardized good

c. Full information

d. No transaction cost

Explanation:

The three markets will have different characteristics which will cause the competition. The Gasoline market has standardized product and the customers are price takers. Usually the prices are fixed for the products and there is no bargaining.

During a team meeting, a team member asks about the measurements that will be used on the project to assess performance. The team member feels that some of the measures related to the activities assigned to him are not valid measurements. The project is BEST considered to be in what part of the project management process?

Answers

Answer:

The answer is "Executing".

Explanation:

In this inquiry, it is stated that certain of the measurements used to evaluate a team member's efforts are deemed invalid. As a result, he'll have to work during the project's executing phase, when project deliverables are created and project participants execute the majority of the labor. During this team meeting, one of the members inquires about the project's performance measurements, that's why Executing is the correct choice.

Trevor is saving for a down payment to buy a house. The account earns 11.2% interest compounded monthly, and he wants to have $14,000 in 7 years. What must his principal be

Answers

Answer:

the principal amount is $6,415.35

Explanation:

The computation of the principal amount is given below:

Amount = Principal × (1 + rate of interest)^time period

$14,000 = Principal × (1 + 11.2% ÷ 12)^7× 12

$14,000 = Principal × (1.00933)^84

So, the principal is

= $14,000 ÷ 2.18227

= $6,415.35

hence, the principal amount is $6,415.35

Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it would probably make the business cycle more volatile.
a. True
b. False

Answers

False is the correct answer

Answer:

The statement is False.

Explanation:

What is a constitutional balanced budget amendment?

The balanced budget amendment's requirement that total government spending cannot exceed total receipts collected in the same year has far-reaching ramifications for Social Security.

What is Balanced Budget?

A balanced budget is one in which total revenues equal or exceed total costs. After a full year of revenues and expenses have been incurred and recorded, a budget can be declared balanced. Budget deficits, according to proponents of a balanced budget, burden future generations with debt.

Example of Balanced Budget-

If Michael and Jessica earn $75,000 per year but spend only $70,000, they have a balanced budget because their expenses are equal to or less than their income. They can use the extra $5,000 in their budget to pay off debt or meet their savings goals in this situation.

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Skysong Industries borrows $22000 at 5% annual interest for six months on October 1, 2022. Which is the appropriate entry to accrue interest if Skysong employs a December 31, 2022, fiscal year?

Answers

Answer and Explanation:

The journal entry is shown below:

Interest Expense [$22,000 × 5% × 3 ÷ 12] $275

                  To Interest payable $275

[Being accrued interest expense is recorded]

Here interest expense is debited as it increased the expense and credited the interest payable as it also increased the liability

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:
Total machine-hours 30,900 Total fixed manufacturing overhead cost $ 154,500 Variable manufacturing overhead per machine-hour $ 3
Recently, Job T687 was completed with the following characteristics:
Number of units in the job 10 Total machine-hours 30 rect materials $740 Direct labor cost $1,480
The amount of overhead applied to Job T687 is closest to: (Round your intermediate calculations to 2 decimal places.)
a. $240.00
b. $154.50
c. $48.00
d. $338.40

Answers

Answer:

a. $240.00

Explanation:

Total variable overhead estimated = $3 * 30,900

Total variable overhead estimated = $92,700

Total overhead estimated = Total variable overhead estimated + Total fixed overhead estimated

Total overhead estimated = $92,700 + $154,500

Total overhead estimated = $247,200

Predetermined overhead rate = $247,200 / 30,900

Predetermined overhead rate = $8

Total machine-hours = 30

Amount of overhead applied to Job T687:

= $8 * 30 hours

= $240.00

Mauro Products distributes a single product, a woven basket whose selling price is $19 per unit and whose variable expense is $15 per unit. The company’s monthly fixed expense is $12,000. Required: 1. Calculate the company’s break-even point in unit sales. 2. Calculate the company’s break-even point in dollar sales. (Do not round intermediate calculations.) 3. If the company's fixed expenses increase by $600, what would become the new break-even point in unit sales? In dollar sales? (Do not round intermediate calculations.)

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Selling price= $19

Unitary variable cost= $15

Fixed costs= $12,000

To calculate the break-even point in units and dollars, we need to use the following formulas:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 12,000 / 4

Break-even point in units= 3,000

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 12,000 / (4/19)

Break-even point (dollars)= $57,000

Now, the fixed costs are $12,600:

Break-even point in units= 12,600 / 4

Break-even point in units= 3,150

Break-even point (dollars)= 12,600 / (4/19)

Break-even point (dollars)= $59,850

Joe is currently selling 873 hamburgers per month at $5 per hamburger for total monthly sales of $4,365. The restaurant manager feels that a $1,000 monthly advertising budget would increase monthly sales by $3,000 to a total of 1,473 hamburgers. Should Joe add advertising

Answers

Answer:

Yes

Explanation:

Yes, as long as Joe is able to recover the money that he has spent on advertising and still increase his profit, then he should advertise. In this scenario, he wants to spend a fixed $1000 monthly on ads. If these ads generate an increase monthly sales of $3,000 as expected, then this means that Joe's restaurant will increase their total profits by $2,000 after recovering what they spent on the ads. This is what ads are for.

George Washington Carver developed new

A.military strategies
B. web 2.0 products
C. agricultural innovations
D. long-distance communication

Answers

I think the answer is C !!!!! I’m not 100% sure though

George Washington Carver developed new agricultural innovations. Thus, the correct answer is option (C).

Who was George Washington Carver?

George Washington Carver was an American agricultural scientist and inventor who advocated for non-cotton crops and ways to avoid soil depletion. He was a famous black scientist in the early twentieth century.

Carver created an agriculture extension in Alabama as well as an industrial research lab, where he worked tirelessly on the development of hundreds of novel plant applications. Carver created his crop rotation technique at Tuskegee, which alternated nitrate-producing legumes like peanuts and maize with cotton, which depletes the soil of nutrients. His innovations are attributed with ensuring the South's economic survival in the early twentieth century.

Therefore, George Washington Carver is considered to have made large contributions in agricultural innovations.

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