Answer:
Katherine Malloy
Personal Cash Budget for September, October, November, and December:
September October November December
Balance $7,560 $2,960 $3,060 $3,160
Apartment deposit return 500
Earnings (net of taxes) 940 940 940 940
Borrowing 340
Total Cash Receipts $8,500 $3,900 $4,000 $4,940
Season football tickets 100
Additional entertainment 260 260 260 260
Semester Tuition 4,100 4,100
Rent 370 370 370 370
Food 210 210 210 210
Apartment deposit 500
Total cash payment $5,540 $840 $840 $4,940
Balance $2,960 $3,060 $3,160 $0
Explanation:
Katherine Malloy's cash budgets for the months of September, October, November, and December give some snapshots of her cash receipts and payments, including the planned borrowing of no less than $340 that she must arrange in December in order to pay for her spring semester tuition on December 31. From the budget, she gets a clearer picture of her cash needs, receipts and expenses. She is comfortable from September till the end of the year. But, Katherine must arrange for some cash receipts, either in student loan or support or get another part-time work to increase her income, to enable settle her tuition in December.
Restricting imports Question 10 options: can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole. can protect United States final goods and services in the protected industry and increase economic welfare of the country as a whole. can protect United States jobs in the protected industry but will also lead to reductions in U.S. output and income. can protect United States final goods and services in the protected industry and makes consumers better off.
Answer: can protect United States jobs in the protected industry but will also lead to reductions in U.S. output and income
Explanation:
Imports are the goods that are purchased and brought from another country into one's home country. Restricting imports is a way by which the government helps to protect the industries at home.
It should also be noted that restricting imports will lead to reductions in the United States output and income as other people in other countries might stop purchasing ones products as well and this will affect the income of the United States.
Answer:
C. can protect United States jobs in the protected industry but will also lead to reductions in U.S. output and income.
Explanation:
Import restriction is a measure taken by some countries that want trade protectionism. They do this to limit importation of goods and services from foreign countries. To achieve this they may impose tariffs, quotas, develop policies, or give subsidies to the local producers, all in a bid to limit importation. In the United States, while restricting imports can protect jobs in the protected industries, it would also result to trade wars with other nations.
This is a situation where other countries reciprocate the import restriction. This would eventually result in a reduced Gross domestic product for the country and limited choices for the consumers who will want to settle with cheaper goods. A case is the situation between Japan and the United States
Net sales for the year were $1,050,000 and cost of goods sold was $735,000 for the company’s existing products. A new product is presently under development and will have an expected selling price of not more than $68 per unit in order to remain competitive with similar products in the marketplace. Required: a. Calculate gross profit and the gross profit ratio for the year.
Answer:
The answer is:
Gross profit is $315,000
Gross profit ratio is 30 percent
Explanation:
Gross profit equals net sales minus cost of sales
Net sales - $1,050,000
Cost of sales - ($735,000)
Gross profit -. $315,000
Gross profit ratio is:
(Gross profit / net sales) x 100 percent
($315,000 / $1,050,000) x 100 percent
0.3 x 100 percent
30 percent.
So we have:
Gross profit is $315,000
Gross profit ratio is 30 percent
For Gundy Company, units to be produced are 5,230 in quarter 1 and 6,100 in quarter 2. It takes 2.0 hours to make a finished unit, and the expected hourly wage rate is $15 per hour.
Required:
Prepare a direct labor budget by quarters for the 6 months ending June 30, 2017.
Answer:
Direct labor budget by quarters for the 6 months ending June 30, 2017
Quarter 1 Quarter 2
Expected Production (units) 5,230 6,100
Hours required per unit 2.0 2.0
Total Expected Hours 10,460 12,200
Cost per Hour $15 $15
Total Cost $156,900 $183,000
Explanation:
Total Expected Cost = Total Expected Hours × Total Cost per Hour
Consider a hypothetical closed economy in which households spend $0.65 of each additional dollar they earn and save the remaining $0.35. The marginal propensity to consume (MPC) for this economy is , and the spending multiplier for this economy is .
Answer:
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
Explanation:
The marginal propensity to consume (MPC) is the proportion of increased disposable income that consumers spend. It is a metric to quantify the induced consumption and how an increase in consumer spending occurs as a result of increase in income.
MPC is calculated as follows,
MPC = Change in consumer spending / change in income
MPC = 0.65 / 1
MPC = 0.65
To calculate the multiplier, we simply use the following formula,
Multiplier or k = 1 / (1 - MPC)
k = 1 / (1 - 0.65)
k = 2.85714 rounded off to 2.86
The marginal propensity to consume is a measure in economics that quantifies induced consumption, or the idea that private expenditure grows in tandem with disposable income.
The spending power is the amount of expendable cash spent on consumption by individuals.
The answers to the questions in the context are:
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
The proportion of extra discretionary income spent by the customer is defined as the level of consumption (MPC).
It's a statistic for measuring induced consumption, or how an increase in consumer spending occurs as a result of an increase in income.
MPC is calculated as follows,
MPC = [tex]\frac{\text{Change in consumer spending}}{\text{change in income}}[/tex]
MPC = 0.65 / 1
MPC = 0.65
To calculate the multiplier:
Multiplier or k = [tex]\frac{1}{1-MPC}[/tex]
k = [tex]\frac{1}{1-0.65}[/tex]
k = 2.85714 rounded off to 2.86
Therefore,
Marginal propensity to consume or MPC = 0.65
Multiplier or k = 2.85714 rounded off to 2.86
To know more about the calculations of the consumptions and the multiplier, refer to the link below:
https://brainly.com/question/13056771
he beginning share price for a security over a three-year period was $50. Subsequent year-end prices were $62, $58 and $64. The arithmetic average annual rate of return and the geometric average annual rate of return for this stock were:
Answer:
Arithmetic average rate of return = 9.30%
geometric average annual rate of return = 8.58%
Explanation:
share price at the beginning = $50
time = 3 year
price at the end of year 1 = $62
price at the end of year 2 = $58
price at the end of year 3 = $64
Annual rate of return in year 1 = ($62 / $50 - 1) x 100 = 24%
Annual rate of return in year 2 = ($58 / $62 - 1) x 100 = -6.45%
Annual rate of return in year 3 = \($64 / $58 - 1) x 100 = 10.34%
Arithmetic average rate of return = sum of annual rate of return / 3
Arithmetic average rate of return = (24% + -6.45% + 10.34%) / 3
Arithmetic average rate of return = 9.30%
geometric average annual rate of return = { (1 + r1) x (1 + r2) x (1 + r3) }^1/3 - 1
= (1.24) x (0.9355) x (1.1034)^1/3 - 1 = 8.58%
Acme Company’s production budget for August is 17,600 units and includes the following component unit costs: direct materials, $7.70; direct labor, $10.10; variable overhead, $6.20. Budgeted fixed overhead is $33,000. Actual production in August was 18,810 units. Actual unit component costs incurred during August include direct materials, $8.50; direct labor, $9.10; variable overhead, $6.90. Actual fixed overhead was $34,600. The standard direct material cost per unit consists of 11 pounds of raw material at $0.7 per pound. During August, 319,770 pounds of raw material were used that were purchased at $0.50 per pound.
Required:
Calculate the materials price variance and materials usage variance for August.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Actual production in August was 18,810 units.
During August, 319,770 pounds of raw material were used that were purchased at $0.50 per pound.
The standard direct material cost per unit consists of 11 pounds of raw material at $0.7 per pound.
To calculate the direct material price and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.7 - 0.5)*319,770
Direct material price variance= $63,954 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 18,810*11= 206,910
Direct material quantity variance= (206,910 - 319,770)*0.7
Direct material quantity variance= $79,002 unfavorable
Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include which of the following?
a) Energy Usage
b) Purchase Price
c) Product Liability Costs
d) Customer Dissatisfaction Costs
e) Warranty Costs
Answer:
a) Energy Usage
Explanation:
Total cost of ownership (TCO) can be defined as the summation of the purchase price (P) and operating costs (O) of an asset over the asset's lifespan.
Mathematically, it is given by the expression;
Ownership costs incurred after the initial purchase and associated with the ongoing use of the product or material purchased include an energy usage.
Energy refers to the amount or quantity of power which is being consumed by an individual, group of people or organization over a specific period of time. As the consumers continue to use energy, they're being charged or made to pay a utility fee regularly for their amount of consumption, which is usually calculated hourly (kilowatts per hour or kwh).
Becker Financial recently declared a 2-for-1 stock split. Prior to the split, the stock sold for $60 per share. If the firm's total market value is unchanged by the split, what will the stock price be following the split?a. $35.28b. $39.53c. $42.50d. $33.58e. $33.15
Answer:
$30
Explanation:
In a 2 for 1 split, for every 1 share owned, the shareholder receives 2 shares
share price after split = share price before split / 2 = $60 / 2 = $30
TB MC Qu. 7-137 Farris Corporation, which has ... Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 144 Units in beginning inventory 0 Units produced 9,350 Units sold 8,950 Units in ending inventory 400 Variable costs per unit: Direct materials $ 26 Direct labor $ 68 Variable manufacturing overhead $ 14 Variable selling and administrative expense $ 18 Fixed costs: Fixed manufacturing overhead $ 140,250 Fixed selling and administrative expense $ 9,600 What is the net operating income (loss) for the month under variable costing
Answer:
Net operating income= $11,250
Explanation:
Giving the following information:
Selling price $144
Units sold 8,950
Variable costs per unit:
Direct materials $26
Direct labor $68
Variable manufacturing overhead $14
Variable selling and administrative expense $18
Total variable cost= $126
Fixed costs:
Fixed manufacturing overhead $140,250
Fixed selling and administrative expense $9,600
Variable costing income statement:
Sales= 8,950*144= 1,288,800
Total variable cost= (126*8,950)= (1,127,700)
Contribution margin= 161,100
Fixed manufacturing overhead= (140,250)
Fixed selling and administrative expense= (9,600)
Net operating income= 11,250
Andrews Corp. ended the year carrying $153,576,000 worth of inventory. Had they sold their entire inventory at their current prices, how much more revenue would it have brought to Andrews Corp.?
Answer:
$153,576,000
Explanation:
The reason is that the company has sold maximum number of units that it can in the year. If it desires to sell all of its stock then it will have to decrease the cost of the product to increase the demand of the product. The least level of cost that the company can charge will be its finished goods recorded value which is the price at which the company breakevens.
Hence the additional sales would be $153,576,000 which is the carrying worth of inventory.
Suppose that we have the following information concerning the government's finances and the macroeconomy for a given year: Government Debt: $12 trillion Inflation: 10% Nominal Deficit: $1.5 trillion What is the real deficit for the year
Answer: $300 billion
Explanation:
The real deficit that a Government has is one that has been adjusted for inflationary effects. It is calculated by subtracting the inflation rate times the total debt from the nominal deficit.
= Nominal deficit - (Inflation rate * Total debt)
= 1.5 trillion - ( 10% * 12 trillion)
= 1.5 trillion - 1.2 trillion
= $300 billion
Your auto dealer gives you the choice to pay $15,500 cash now, or make three payments: $8,200 now, $4,200 in one year and $3,200 in two years. If your cost of money (discount rate) is 7.25%, what is the PV of the installment plan?
Answer:
The answer is $14,898.07
Explanation:
Assume that the cost of money (discount rate) of 7.25% is on annual basis.
Present value (PV) of the installment plan is:
PV = Down payment + PV(first installment) + PV(second installment)
= $8,200 + $4,200 / (1 + 7.25%) + $3,200 / (1 + 7.25%)^2 = $14,898.07
Obviously, the three payments option is more lucrative than the 100% down payment one.
ABC is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Container Corporation purchased computer equipment, installation and training for a total cost of $144,000 on March 15, 2021. Estimated standalone fair values of the equipment, installation and training are $90,000, $60,000 and $30,000 respectively. The journal entry to record the transaction on March 15, 2021 will include a
Answer:
ABCJournal Entries:Debit Cash or Accounts Receivable (Container Corporation) $144,000
Credit Sales Revenue $72,000
Credit Installation Revenue $48,000
Credit Training Revenue $24,000
To record the sale of goods and services worth $144,000.
Explanation:
a) Data and Calculations:
Performance Obligations and Contract Price:
Computer equipment = $90,000/$180,000 x $144,000 = $72,000
Installation = $60,000 x 0.80 = $48,000
Training = $30,000 x 0.80 = $24,000
Total purchase costs = $144,000
b) The performance obligations and the consideration prices are allocated accordingly based on their separate consideration values.
You have just joined the project management office after five years of working on projects. One of the things you want to introduce to your company is the need to create and utilize WBSs. Some of the project managers are angry that you are asking them to do "extra work". Which of the following would be the BEST thing you could tell the project managers to convince them to use WBSs?a. Tell them that it is not needed b. Tell them it is required only if the project involves contracts. c. Tell them it is the only way to identify risks. d. Tell them it will prevent work from slipping through the cracks
Answer: d. Tell them it will prevent work from slipping through the cracks
Explanation:
Work Breakdown Structures work to make a large and by extension all projects more manageable by dividing it into different portions that will then be managed individually to ensure that they are accomplished.
With different portions, various team members can be assigned to them which will lead to greater work efficiency as work is done simultaneously on a project.
Due to this division of the project and the micro-management that comes with it, tasks can be better monitored meaning that there will be less chances of work slipping through the cracks because all tasks will be assigned to different portions of the project and can therefore be traced easily and their completion will form part of the completion of a portion.
An investment adviser has a soft dollar arrangement with DEF Brokerage Company. An investment adviser representative brings a big new account to the RIA and the account owner tells the IAR to direct 50% of his trades to XYZ Brokerage Company. If execution is not an issue, then the IAR should:
Answer:
The remaining part of the question:
Which statement is TRUE?
A. Because the payment received by the IAR is small, there is no requirement to notify the client of the payment arrangement with the executing broker
B. Because the client has an investment objective of aggressive growth, requiring an active trading strategy, there is no requirement to notify the client of the payment arrangement with the executing broker
C. The IAR must notify the client of the payment arrangement with the executing broker
D. The IAR must notify RIA of the payment arrangement with the executing broker
Correct Answer:
C. The IAR must notify the client of the payment arrangement with the executing broker .
Explanation:
A company developed the following per unit materials standards for its product: 3 pounds of direct materials at $5 per pound. If 10000 units of product were produced last month and 31250 pounds of direct materials were used, the direct materials quantity variance was
Answer:
Direct material quantity variance= $6,250 unfavorable
Explanation:
Giving the following information:
Standard:
3 pounds of direct materials at $5 per pound.
10,000 units of product were produced last month and 31,250 pounds of direct materials were used.
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (3*10,000 - 31,250)*5
Direct material quantity variance= $6,250 unfavorable
Attributes of a company's competitive advantage, including land, capital, technological knowhow, and physical infrastructure, are known as:
Answer: Factor endowments
Explanation:
Factor endowment is amount of land, capital, labor, and entrepreneurship that is possessed by a country and which the country can use for production purpose.
Therefore, Attributes of a company's competitive advantage, including land, capital, technological knowhow, and physical infrastructure, are factor endowments.
An e-business can redefine its market by removing traditional marketplace intermediaries or by creating new ways to add value to business transactions.
a. True
b. False
Answer: True
Explanation:
An e-business is a kind of business whereby information is passed across on the internet. Since we live in a digital world, organizations now engage their customers online.
An e-business can redefine its market by removing traditional marketplace intermediaries or by creating new ways to add value to business transactions.
Martin Enterprises needs someone to supply it with 118,000 cartons of machine screws per year to support its manufacturing needs over the next five years, and you've decided to bid on the contract. It will cost you $785,000 to install the equipment necessary to start production costs will be $415,000 per year, and your variable production costs should be $10.05 per carton. You also need an initial investment in net working capitalof $68,000.If your tax rate is 24 percent and you require a return of 12 percent on your investment, whar bid price should you submit?
Answer:
$15.66 per carton
Explanation:
118,000 cartons of machine screws
equipment cost $785,000
depreciation per year = $785,000 / 5 = $157,000
fixed manufacturing costs $415,000 per year
variable costs per carton = $10.05 x 118,000 = $1,185,900
initial investment in net working capital $68,000
tax rate 24%
discount rate 12%
price per carton?
initial investment = -$853,000
CF₁ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320
CF₂ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320
CF₃ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320
CF₄ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 = 0.76R - $1,178,320
CF₅ = [(R - $1,600,000 - $157,000) x 0.76] + $157,000 + $68,000 = 0.76R + $1,110,320
$853,000 = (0.76R - $1,178,320) / 1.12 + (0.76R - $1,178,320) / 1.12² + (0.76R - $1,178,320) / 1.12³ + (0.76R - $1,178,320) / 1.12⁴ + (0.76R + $1,110,320 ) / 1.12⁵ = 0.6786R - $1,052,071.43 + 0.6059R - $939,349.49 + 0.541R - $838,704.90 + 0.483R - $748,943.66 + 0.4312R + $630,025.39
$853,000 = 2.7397R - $4,209,094.87
$5,062,094.87 = 2.7397R
R = $5,062,094.87 / 2.7397 = $1,847,682.18
total revenue = $1,847,682.18
revenue per carton = $1,847,682.18 / 118,000 = $15.6583 = $15.66
Suppose the real interest rate is 2.8%, and the inflation rate is 7%. (1) How much do you need to invest now in order to get $100 in a year? Please show two approaches to calculate the answers. (Round your final answer to two decimal places) (2) Suppose the U.S. Treasury issues 5% coupon, 3-year TIPS (Treasury Inflation-Protected Securities). What are the real cash flows on the 3-year TIPS each year? What are the nominal cash flows on the 3-years TIPS each year? (Round your final answers to two decimal places)
Answer:
1)
approach 1, using the approximate real and nominal interest rates:
nominal interest rate = real interest rate + inflation rate = 2.8% + 7% = 9.8%
present value = $100 / (1 + 9.8%) = $91.07
approach 2, using the exact real and nominal interest rates:
(1 + i) = (1 + r) × (1 + π)
(1 + i) = (1 + 2.8%) x (1 + 7%) = 1.09996
i = 1.09996 - 1 = 0.09996 = 9.996%
present value = $100 / (1 + 9.996%) = $90.91
2)
assuming a $1,000 TIPS, nominal cash flow year 1 = $50
new face value = $1,070
nominal cash flow year 2 = $53.50
new face value = $1,144.90
nominal cash flows year 3 = $57.25 + ($1,144.90 x 1.07) = $1,282.29
assuming a $1,000 TIPS, real cash flow year 1 = $50 / 1.07 = $46.73
new face value = $1,070
real cash flow year 2 = $53.50 / 1.07² = $46.73
new face value = $1,144.90
real cash flows year 3 = [$57.25 + ($1,144.90 x 1.07)] / 1.07³ = $1,282.29 / 1.07³ = $1,046.73
Previous Question Question 5 of 20 Next Question Which of the following items represents the net income/(loss) for the year? The difference between the revenues/gains and expenses/losses. The difference between the cash receipts and payments. The difference between the funds raised by stock issuance and the dividends paid. The difference between the net increase in assets and in liabilities.
Answer:
Option A. The difference between the revenues/gains and expenses/losses
Explanation:
The net income of an organization is the net value received by taking the difference of all the income earned and the losses borned by the organization.
Mathematically,
Net Income = Revenue - Expenses
It can be also calculated as under:
Net Income = Gains - Losses
If there is a market with the below noted market segmentation, what would the four firm market concentration ratio be?
Distribution of sales: 30%, 3%,10%, 5%,15%, 2%, 35%
a. 10
b. 90
c. 50
d. 40
Answer:
The correct answer is:
90 (b.)
Explanation:
A concentration ratio is the ratio of the combined market shares percentage held by the largest specified number of firms, compared to the given market size. The concentration ratio ranges from 0% to 100%. If the concentration ratio of an industry ranges from 0% to 50%, that industry is said to be perfectly competitive if the top 5 firms have a concentration ratio of 60% or more, oligopoly is said to occur, and if the competition ratio of one company is 100% it shows monopoly.
In our example, the concentration of the largest four market segments are:
35%, 30%, 15% and 10%
Therefore, the four firm market concentration ratio = 35 + 30 + 15 + 10 = 90
Answer:
b. 90
Explanation:
The concentration ratio is a term in business that is measured as the total summation of the market share percentage carried by the largest specified number of companies in an industry. The concentration ratio varies between 0% to 100%, and an industry's concentration ratio is considered to demonstrates the extent of competition in the industry.
However, the four-firm concentration ratio is calculated by summing the market shares—that is, the percentage of total sales—of the four largest companies in the given market.
Hence, in this case, we have 35%, 30%, 15% and 10% as the top four largest market share. There by, summation equals => 35+30+15+10 = 90.
Your client is 40 years old; and she wants to begin saving for retirement, with the first payment to come one year from now. She can save $5,000 per year; and you advise her to invest it in the stock market, which you expect to provide an average return of 9% in the future.
Answer:
14,000
Explanation:
im smart
Inventory at the end of April, 2008: 200 unitsExpected demand during April, 2008: 50 unitsProduction expected during April, 2008: 100 unitsWhat was the inventory at the end of March 2008?
Answer:
beginning inventory= 150 units
Explanation:
Giving the following information:
Endiing inventory= 200 units
Sales= 50 units
Production= 100
To calculate the beginning inventory, we need to use the following formula:
Production= sales + ending inventory - beginning inventory
100= 50 + 200 - beginning inventory
beginning inventory= 250 - 100
beginning inventory= 150 units
The following data were taken from the balance sheet of Nilo Company at the end of two recent fiscal years: Current Year Previous Year Current assets: Cash $655,500 $546,000 Marketable securities 759,000 614,300 Accounts and notes receivable (net) 310,500 204,700 Inventories 1,039,500 674,100 Prepaid expenses 535,500 430,900 Total current assets $3,300,000 $2,470,000 Current liabilities: Accounts and notes payable (short-term) $435,000 $455,000 Accrued liabilities 315,000 195,000 Total current liabilities $750,000 $650,000 a. Determine for each year (1) the working capital, (2) the current ratio, and (3) the quick ratio. Round ratios to one decimal place.
Answer:
1. Previous Year = $1,820,000, Current Year = $2,550,000
2. Previous Year = 3.80 times , Current Year = 4.40 times
3. Previous Year = 2.70 times, Current Year = 3.00 times
Explanation:
working capital = current assets - current liabilities
working capital (Previous Year) = $2,470,000 - $650,000
= $1,820,000
working capital (Previous Year) = $3,300,000 - $750,000
= $2,550,000
Current ratio = current assets ÷ current liabilities
working capital (Previous Year) = $2,470,000 ÷ $650,000
= 3.80 times
working capital (Previous Year) = $3,300,000 ÷ $750,000
= 4.40 times
Quick ratio = (current assets - inventory) ÷ current liabilities
working capital (Previous Year) = ($2,470,000 - 674,100) ÷ $650,000
= 2.70 times
working capital (Previous Year) = ($3,300,000 - 1,039,500) ÷ $750,000
= 3.00 times
Your Competitive Intelligence team is predicting that the Digby Company will invest in adding capacity to their Deal product this year. Assume Digby's product Deal invests in increasing its capacity by 10% this year. Because of this new information, your company anticipates all other products in the Core segment will increase their capacity by the same amount. How much can the industry produce in the Core segment the next year
Answer:
13,288
Explanation:
The computation of the amount that industry produced in the core segment is shown below:
It can be determined in two ways i.e.
= 6,444 + 6,444
= 13,288
And, the other method is
= 6,444 × 2
= 13,288
In both the methods, the answer would remain the same
Hence, the 13,288 should be produced by the industry for the next year production
While making purchase decisions, which of the following products is most likely to elicit the greatest reference group influence?
A) A car.
B) A medicine.
C) An award-winning novel.
D) A toothbrush.
Answer: a car
Explanation:
While making purchase decisions, the product that is most likely to elicit the greatest reference group influence will be a car.
This because when an individual has a car, other people see the person and use that as a reference group. It should also be noted that a good thatbis considered public good has a strong influence group.
While making purchase decisions, the product that is most likely to elicit the greatest reference group influence is A) A car.
What is a reference group?A reference group is a group that can influence an individual's buying preferences.
The influence wielded by a reference group depends on the level of conformity within the group.
Thus, while making purchase decisions, the product that is most likely to elicit the greatest reference group influence is A) A car.
Learn more about reference groups in consumer behavior at https://brainly.com/question/13362488
Poseidon Marine Stores Company manufactures special metallic materials and decorative fittings for luxury yachts that require highly skilled labor. Poseidon uses standard costs to prepare its flexible budget. For the first quarter of the year, direct materials and direct labor standards for one of their popular products were as follows:
Direct materials: pounds per unit; per pound
Direct labor: hours per unit; per hour
Poseidon produced units during the quarter. At the end of the quarter, an examination of the labor costs records showed that the direct labor cost variance was F. Which of the following is a logical explanation for this variance?
A. The company paid a lower cost for the direct materials than allowed by the standards.
B. The company used a lower quantity of direct materials than allowed by the standards.
C. The company paid a lower cost per hour for labor than allowed by the standards.
D. The company used fewer labor hours than allowed by the standards,
Answer:
The company paid a lower cost per hour for labor than allowed by the standards.
Explanation:
The labour cost variance is the difference between the standard labour cost allowed for the actual hours worked and the actual labor cost for the same hours
The labour cost variance compares the actual cost and the standard cost for the actual labour hours paid for.
Hence , Poseidon Marine Stores Company would have paid a sum for labour cost which is lower than the standard cost.
The company paid a lower cost per hour for labor than allowed by the standards.
_______ appraisals occur between managers and their subordinates whenever the need to discuss ongoing progress and areas for improvement arise.
Answer: Informal
Explanation: appraisals that occur between managers and their subordinates whenever the need to discuss ongoing progress and areas for improvement arise is known as an informal appraisal. Here, a manager provides significant feedback and direction to his employees outside of a formal review meeting thus providing opportunities for coaching and rapport building. It is carried out whenever the manager or supervisor deems it necessary.
The following information is available for Blossom Corporation for 2020.1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $124,000. This difference will reverse in equal amounts of $31,000 over the years 2021–2024.2. Interest received on municipal bonds was $9,300.3. Rent collected in advance on January 1, 2020, totaled $64,200 for a 3-year period. Of this amount, $42,800 was reported as unearned at December 31, 2020, for book purposes.4. The tax rates are 40% for 2020 and 35% for 2021 and subsequent years.5. Income taxes of $297,000 are due per the tax return for 2020.6. No deferred taxes existed at the beginning of 2020.Requried:Prepare the income tax expense section of the income statement for 2020.
Answer:
first we must determine taxable income = due income taxes / tax rate = $297,000 / 0.4 = $742,500
interest received on municipal bonds $9,300
unearned rent revenue = $42,800
deferred tax asset = $42,800 x 0.4 = $17,120
total pretax financial income = $742,500 + $9,300 + $124,000 - $42,800 = $833,000
deferred tax liability = $124,000 x .4 = $49,600
Income tax expense section
For the year ended December 31, 2020
Total pretax financial income $833,000
Income tax expense:
Income taxes $297,000Deferred tax liability $49,600Deferred tax asset -$17,120 -$329,480Net income $503,520
