Answer: UTech Inc. creates more economic value than Micro Corp. does.
Explanation:
Economic value refers to the measure of the benefit that an economic agent such as an individual, firm or government gets when a good or service is consumed.
In this case, since consumers derive more economic value from the good, even though it's costlier, they'll be willing to pay a higher price.
Therefore, UTech Inc. creates more economic value than Micro Corp. does.
The law of comparative advantage says that a person should produce a good if he or she: Group of answer choices can produce the good at the same cost as another producer can. receives the highest marginal benefit from the good. has an absolute advantage in producing the good. has the lowest opportunity cost of producing the good. has the greatest desire to consume the good.
Answer:
has the lowest opportunity cost of producing the good
Explanation:
Comparative advantage is the capability of the one party in order to manufactured the goods or services at less opportunity cost as compared to the other party. It could be used for overall nations and thier economies
So as per the given situation, the above statement represent an answer
hence, the same is to be considered
Suppose a bank has $400 million in deposits and $25 million in required reserves, and it is holding no excess reserves. What is the required reserve ratio?
Answer:
the required reserve ratio is 6.25%
Explanation:
The calculation of the required reserve ratio is given below:
Required reserve ratio is
= required reserves ÷ deposits
= $25 ÷ $400
= 0.0625
= 6.25%
Hence, the required reserve ratio is 6.25%
The same is to be relevant and considered too
Nonmanufacturing costs are ______. Multiple choice question. always reported as inventory only reported as inventory under variable costing never reported as inventory only reported as inventory under full absorption costing
Answer:
never reported as inventory
Explanation:
Nonmanufacturing costs are never reported as inventory. This is because they are not tangible items that need to be stored, also these costs do not have anything to do with the production of the end product and are not resources to the production process. Instead, these costs revolve around everything not related to the product creation such as company personnel or shipping/storage costs. Therefore, it is never reported to inventory which is for products and resources.
At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player at full capacity that normally sells for $45. A foreign wholesaler offers to buy 3,000 units at $25 each. Bargain Electronics will incur special shipping costs of $3 per unit. Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order.
Answer:
Bargain Electronics
Bargain Electronics would realize a net income of $6,000 by accepting the special order.
Explanation:
a) data and Calculations:
Production costs of MP3 Player:
Variable cost = $20
Fixed cost = $10
Total costs = $30
Selling price = $45
Special order from a foreign wholesaler = 3,000 units
Special order selling price = $25 per unit
Additional special shipping costs per unit = $3
Variable production costs = $20
Total costs for the special order = $23 ($3 + $20)
Net income from special order = $6,000 ($2 * 3,000)
MC Qu. 97 K Company estimates that overhead costs for... K Company estimates that overhead costs for the next year will be $3,648,000 for indirect labor and $960,000 for factory utilities. The company uses direct labor hours as its overhead allocation base. Of 96,000 direct labor hours are planned for this next year, how much overhead would be assigned to a product requiring 5 direct labor hours
Answer:
Allocated MOH= $240
Explanation:
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (3,648,000 + 960,000) / 96,000
Predetermined manufacturing overhead rate= $48 per direct labor hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 48*5
Allocated MOH= $240
Analysis of Receivables Method At the end of the current year, Accounts Receivable has a balance of $670,000, Allowance for Doubtful Accounts has a debit balance of $6,000, and sales for the year total $3,020,000. Using the aging method, the balance of Allowance for Doubtful Accounts is estimated as $21,000. a. Determine the amount of the adjusting entry for uncollectible accounts. $fill in the blank 1 b. Determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense. Accounts Receivable $fill in the blank 2 Allowance for Doubtful Accounts $fill in the blank 3 Bad Debt Expense $fill in the blank 4 c. Determine the net realizable value of accounts receivable. $fill in the blank 5
Answer:
a. $27,000
b. $670,000
$21,000
$27,000
c.$649,000
Explanation:
a. Calculation to determine the amount of the adjusting entry for uncollectible accounts
Using this formula
Adjusting entry for Uncollectible accounts = Allowance for Doubtful Accounts - Debit balance on Allowance for doubtful accounts
Let plug in the formula
Adjusting entry for Uncollectible accounts= $21,000 + $6,000
Adjusting entry for Uncollectible accounts= $27,000
b. Calculation to determine the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense.
Accounts Receivable = $670,000
Allowance for Doubtful Accounts = $21,000
Bad Debt Expense =$21,000 + $6,000
Bad Debt Expense= $27,000
c. Calculation to determine the net realizable value of accounts receivable
Using this formula
Net realizable value of accounts receivable = Accounts receivables - Allowance for Doubtful Accounts
Let plug in the formula
Net realizable value of accounts receivable= $670,000 - $21,000
Net realizable value of accounts receivable= $649,000
Therefore the net realizable value of accounts receivable is $649,000
A materials requisition slip showed that direct materials requested were $58,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is:___________A) Work In Process Inventory 58,000Raw Materials Inventory 58,000B) Direct Materials 58,000Indirect Materials 9,000Work in Process Inventory 67,000C) Manufacturing Overhead 67,000Raw Materials Inventory 67,000D) Work In Process Inventory 58,000Manufacturing Overhead 9,000Raw Materials Inventory 67,000
Answer:
Work In Process Inventory 58,000Manufacturing Overhead 9,000Raw Materials Inventory 67,000
Explanation:
Account titles and explanation Debit Credit
Work In Process Inventory $58,000
Manufacturing overhead $9,000
Raw Materials Inventory $67,000
Direct Materials from the storeroom is recorded as work in process Inventory and is debited, Also Indirect materials is recorded as manufacturing overheads and debited. This should correspond with a credit to the raw material inventory.
1. As more people in India have access to higher education, explain
how potential GDP and aggregate supply will change in the long
run.
Answer:
As more people in India have access to higher education, the country's economic growth potential, both in its GDP per capita and in its aggregate demand, will increase.
This is so because the higher the levels of education, the greater the added value that each person introduces into their economic production, with which the country's GDP is in turn increased.
On the other hand, this same economic growth generates a greater availability of wealth for society, with which the greater the availability of money, the greater the demand for goods and services that will be produced in that country.
Sandia Corporation manufactures metal toolboxes. It adds all materials at the beginning of the manufacturing process. The company has provided the following information:
Beginning work in process (30% complete) 80,000
Direct materials $80,000
Conversion cost 190,000
Total cost of beginning work in process $270,000
Number of units started 152,000
Number of units completed and transferred to finished goods ?
Ending work in process (50% complete) 68,000
Current period costs
Direct materials $180,000
Conversion cost 314,000
Total current period costs $494,000
Required:
a. Reconcile the number of physical units worked on during the period.
b. Calculate the cost per equivalent unit.
Answer:
The solution to these questions can be defined as follows:
Explanation:
For point a:
[tex]Physical \ units\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ Physical\ units[/tex]
[tex]Beginning\ units\ \ \ \ \ \ \ \ \ \ \ \ 80000\ \ \ \ \ \ \ \ \ \ \ \ Units\ completed \ \ \ \ \ \ \ \ \ \ \ \ 164000\\\\Units \ started\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 152000\ \ \ \ \ \ \ \ \ \ \ \ Ending\ units\ \ \ \ \ \ \ \ \ \ \ \ \ \ 68000\\\\Total\ units\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 232000\ \ \ \ \ \ \ \ \ \ \ \ Total \ units \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 232000\\\\[/tex]
For point b:
[tex]Equivalent\ units[/tex]
[tex]Physical\ units \ \ \ \ \ \ \ \ \ \ Direct \ materials\ \ \ \ \ \ \ \ \ Conversion[/tex] [tex]Units \ completed\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 164000\ \ \ \ \ \ \ \ \ \ \ \ 164000\ \ \ \ \ \ \ \ \ \ \ \ 164000 \\\\Ending \ inventory\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 68000\ \ \ \ \ \ \ \ \ \ \ \ 68000\ \ \ \ \ \ \ \ \ \ \ \ 34000\\\\Total \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ 232000 \ \ \ \ \ \ \ \ \ \ \ \ 232000\ \ \ \ \ \ \ \ \ \ \ \ 198000[/tex]
Job analysis is important to HR managers because the information gathered in job analysis is used in so many HR activities/functions. Describe how job analysis information is used in four different HR activities/functions. Illustrate by specific examples in hospitality and tourism.
Answer:
Job analysis in tourism and hospitality include planning, making and providing, lodging recreation and travel related services.
Explanation:
Job analysis is a part of the procedure to identify the contents of the job interms of the acts involved and it provides information to the organization necessary to perform these activities. Procedure involves collecting of information. Being both task and work oriented.At the profit-maximizing level of output, what is the relationship between the total revenue (TR) and total cost (TC) curves? A. They cannot be tangent to each other. B. They must have the same slope. C. They must intersect, with TC cutting TR from above. D. They must intersect, with TC cutting TR from below. E. They must be tangent to each other.
Answer: They must have the same slope.
Explanation:
It should be noted that at the profit-maximizing level of output, the marginal revenue will be equal to the marginal cost.
Since the slope of the total revenue is the marginal revenue while the slope of the total cost us marginal cost, then at the profit-maximizing level of output, the relationship between the total revenue (TR) and total cost (TC) curves is that they must have the same slope.
Notes Receivable differ from Accounts Receivable in that Notes Receivable: A. are generally considered a weaker legal claim B. do not have to be created for every new transaction, so they are used more frequently C. are noncurrent assets D. generally charge interest from the day they are signed to the day they are collected
Answer: D. generally charge interest from the day they are signed to the day they are collected
Explanation:
The notes receivable refers to the written promise that an amount of money will be received at a future date.
It should be noted that such money consist of the principal and the interest accrued. It is written under the current assets section in the balance sheet.
On the other hand, the accounts receivable refers to the payment that a company will receive from the customers who have bought its goods on credit.
While the nite receivable charges interest, the account receivable doesn't. Therefore, notes receivable differ from accounts receivable in that notes receivable generally charge interest from the day they are signed to the day they are collected.
A machine with a cost of $100,000 has an estimated residual value of $8,000 and an estimated life of 7 years or 21,000 hours. What is the amount of depreciation for the second full year, using the double-declining-balance method
Answer:
$20,408.16
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/7
1st year= 2/7 x 100,000 = 28,571.43
book value = 100,000 - 28,571.43 = 71,428.57
2nd year = 2/7 x 71,428.57 = $20,408.16
An effective minimum wage law can be expected to clear the market for unskilled workers. increase employment for some affected workers. increase the number of firms in those industries where the law is effective. reduce the hours worked for some unskilled workers. all of the above
Answer:
all of the above
Explanation:
The law related to the effective minimum wage could be predicted for non-skilled workers market, it raised the employment for some workers that are impacted, the number of firms should be increased, it decreased the non-skilled workers hours
So all of the above options is correct as it included all
Income statement dataSales 6,900Cost of goods sold 6,100Balance sheet dataInventory 680Accounts receivable 300Accounts payable 460Calculate the accounts receivable period accounts payable period, inventory period and cash conversion cycle for the above firm. Use 365 days in a year, do not round intermediate calculations. Round your answers to 1 decimal placea. accounts receivable period _____daysb. account payable period _____daysc. inventory period _____daysd. cash conversion cycle __
Answer:
a. Accounts receivables period = 365 / (Credit sales/Average accounts receivables)
Accounts receivables period = 365 / (6900/300)
Accounts receivables period = 365 / 23
Accounts receivables period = 15.9 days
b. Accounts payable period = (365/(Cost of goods sold/Accounts payable)
Accounts payable period = 365 / (6100/460)
Accounts payable period = 365 / 13.26
Accounts payable period = 27.5 days
c. Inventory period = 365 / (Cost of goods sold/Inventory)
Inventory period = 365 / (6100/680)
Inventory period = 365 / 8.97
Inventory period = 40.7 days
d. Cash conversion cycle = Accounts receivables periods + Inventory period - Accounts payable periods
Cash conversion cycle = 40.7 + 15.9 - 27.5
Cash conversion cycle = 29.1 days
Fixed costs can be defined as costs thatGroup of answer choicesvary inversely with production.vary in proportion with production.are incurred only when production is large enough.are incurred even if nothing is produced.
Answer: are incurred even if nothing is produced.
Explanation:
Fixed costs are referred to as the cost that doesn't vary with the production level. Even if the company doesn't produce anything, the fixed cost will still be incurred.
The fixed cost is different from the variable cost which is the cost that varies along with production. Examples of fixed cost include salaries, rental lease payments, salaries, etc.
Carter Industries has two divisions: the West Division and the East Division. Information relating to the divisions for the year just ended is as follows: West East Units produced and sold 33,000 43,000 Selling price per unit $ 8 $ 15 Variable costs per unit 4 5 Direct fixed cost 51,000 113,000 Common fixed cost 43,000 43,000 Common fixed expenses have been allocated equally to each of the two divisions. Carter's segment margin for the West Division is:
Answer:
$81,000
Explanation:
Segment margin is derived by deducting all expenses that are directly traceable to the segment and it does not include corporate common expenses.
Particulars Amount
Contribution $132,000 [33,000*(8-4)]
Less: Direct fixed cost ($51,000)
Segment Margin $81,000
So, Carter's segment margin for the West Division is $81,000.
Marigold Industries has 8400 equivalent units of production for both materials and for conversion costs. Total manufacturing costs are $123880. Total materials costs are $97000. How much is the conversion cost per unit?a. $12.37. b. $5.10. c. $29.84.d. $17.47.
Answer:
Wow that’s a lot of numbers hold up
Explanation:
Black, Inc., acquired another company for $5,000,000. The fair value of all identifiable tangible and intangible assets was $4,500,000. Black will amortize any goodwill over the maximum number of years allowed. What is the annual amortization of goodwill for this acquisition
Answer:
The correct answer is "Zero (0)".
Explanation:
An applies specifically asset which is responsible for a different corporation's or business's extra purchasing amount, is considered as Goodwill.Goodwill commodities are confidential, intellectual properties or copyright and trademark awareness that aren't commonly produced. Therefore it isn't amortized.Thus, the above is the appropriate solution.
The benefit the goverment receives from tax can be measured by
Answer:
the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
Explanation:
The benefit that government receives from a tax is measured by a. b. c. d. the change in the equilibrium quantity of the good. the change in the equilibrium price of the good.
The revenue or benefits received from tax by the government of a Country can be measured by using the Tax-to-GDP ratio.
The Tax-to-GDP ratio provides an in-depth knowledge of the revenues generated from tax by the nation as it relates to the economy.
This ratio helps to pinpoint the benefits from taxation with relation to the size of the nations economy. for instance, if their is higher revenue from tax, it means that the Country can spend more money healthcare, education or infrastructure.
Hence, the Tax-to-GDP ratio, measures the benefit from tax in a nation, and a higher tax revenue of a nations gross domestic product (GDP) signifies economic growth.
You can get more insight about taxes here https://brainly.com/question/15090055?referrer=searchResults
Mary incurred a $20,000 nonbusiness bad debt last year. She also had an $18,000 long-term capital gain last year. Her taxable income for last year was $25,000. During the current year, she unexpectedly collected $12,000 on the debt. How should Mary account for the collection
Answer: $12000 income.
Explanation:
It should be noted that non business bad debts are regarded as short term capital loss. In the question given, the $18000 long-term capital gain will have to be offset against the bad debt of $20000.
In this case, the tax benefit will be $18000, therefore $12000 will be recognized as the income.
External costs occur because Group of answer choices Private costs do not reflect the full costs to society All costs are absorbed by the firm Firms make a choice other than the most cost-efficient production method Government failure increases costs for the firm
Answer:
Private costs do not reflect the full costs to society
Explanation:
External costs are costs incurred by third parties not involved in production or consumption activities
external cost can either be negative or positive
A good has negative externality if the costs to third parties not involved in production is greater than the benefits. an example of an activity that generates negative externality is pollution. Pollution can be generated at little or no cost, so they are usually overproduced.
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced.
Gross pay is: Multiple Choice Deductions withheld by an employer. Salaries after taxes are deducted. Total compensation earned by an employee before any deductions. Take-home pay. The amount of the paycheck.
Answer:
Total compensation earned by an employee before any deductions.
Explanation:
Gross pay is the total compensation earned by an employee before any deductions.
Net pay is the compensation after taxes and other deductions are removed
For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.
Answer:
d. $84,750.
Explanation:
Calculation to determine what Total selling expenses for the month of February are:
Sales commissions $15,000
($250,000 ×6%)
Sales manager's salary $50,000
Advertising expenses $15,000
Shipping expenses $2,500
($250,000 × 1%)
Miscellaneous selling expense $2,250
[$1,000 + ($250,000 × 0.5%)]
Total selling expenses $84,750
Therefore Total selling expenses for the month of February are:$84,750
If Company A has a lower debt ratio than Company B, then Company A is likely to have __________ than Company B.
a. a higher level of financial risk
b. a greater ability to borrow
c. more total assets
d. less financial flexibility
Answer:
b. a greater ability to borrow
Goods in transit are included in a purchaser's inventory:____.A. If the goods are shipped FOB destination. B. When the supplier is responsible for freight charges. C. When the purchaser is responsible for paying freight charges.D. At any time during transit.E. After the half-way point between the buyer and seller.
Answer:
B. When the supplier is responsible for freight charges.
Explanation:
Goods in Transit can be regarded as merchandise as well as other types of inventory which has already shipped out of shipping dock of the seller, but it has not gotten to the receiving dock of the buyer.This concept is utilized in order to know maybe the buyer or the seller of that particular goods has taken the possession of that particular goods and to know the party that Is paying for transport. The Freight charge, can be regarded as as freight rate, and this is amount that is been paid to a carrier company so that transportation of goods to agreed location will be possible.
It should be noted that Goods in transit are included in a purchaser's inventory When the supplier is responsible for freight charges.
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $790, and general factory use $660. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dr Work in Process Inventory $3460
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
Explanation:
Preparation of a summary journal entry to record raw materials used.
Based on the information given the summary journal entry to record raw materials used will be:
Dr Work in Process Inventory $3460
($970+$1700+$790)
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
($3460-$660)
(To record raw materials used)
How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
The purposeful use of symbols to allow multiple interpretations of messages is called:____.
a. strategic ambiguity.
b. crisis communication.
c. interaction management.
d. conflict management.
e. customer service management.
Answer:
a. strategic ambiguity.
Explanation:
The use of strategic ambiguity permits the views for diversify or interpretations also at the same time it promotes inclusiveness and unity
The mission and vision sttaement should be confused and normal in nature in order to provide the accomodation
So the use of symbols for permitting out the multiple interpretations of messages is known as the strategic ambiguity
Therefore the option a is correct
What is finance? The study of a business's past financial decisions The study of how to allocate assets to maximize returns The process of communicating financial information about a business The social science that analyzes the production, distribution and consumption of goods and services
Answer: The study of how to allocate assets to maximize returns
Explanation:
Finance refers to the study of how to allocate assets to maximize returns. Finance refers to the study, management, and creation of money and investments.
Finance simply explains how economic agents such as the individual, company or government gets money and how such money is being used.
