Complete Question:
Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision:
Group of answer choices.
a. might increase profits if it attracts a better pool of workers to apply for jobs at his restaurant.
b. will reduce the excess supply of labor.
c. is an example of the benefits of a minimum-wage law.
d. All of the above are correct.
Answer:
a. might increase profits if it attracts a better pool of workers to apply for jobs.
Explanation:
Emeril is the owner of a restaurant. He decides to raise the wages of his workers even though he faces an excess supply of labor. His decision might increase profits if it attracts a better pool of workers to apply for jobs.
An excess supply of labor refers to the situation where there are too many number of people working in an organization at a particular period of time.
However, Emeril's decision to raise the wages of his workers might increase profits if he's able to recruit better pool of workers who will be willing and able to work more hours effectively and efficiently. As a result, this would help to boost the level of production and increase the rate at which the consumer's needs or wants are meet.
Carpenter Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,400 units. The costs and percentage completion of these units in beginning inventory were: 2 points Percent Complete 60% 55% Cost $ 7,000 $10,300 Materials costs Conversion costs 01:53:47 A total of 10,500 units were started and 8.900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: eBook Materials costs Conversion costs $ 96,800 $171,000 References The ending inventory was 85% complete with respect to materials and 70% complete with respect to conversion costs.
How many units are in ending work in process inventory in the first processing department at the end of the month?
a. 4,000
b. 1,800
c. 8.100
d. 1,600
Answer:
a. 4,000
Explanation:
Units in ending inventory
= Units in beginning work in process + Units started into production - Units transferred to the next department
= 2,400 + 10,500 - 8,900
= 4,000 units
Denver Company, a calendar year corporation, had the following actual income before income tax expense and estimated effective annual income tax rates for the first two quarters in year x8: quarter income before tax estimated tax rate first $100k 30% second $140k 24% Denver's income tax expense in its interim income statement for the second quarter should be:
Answer:
Denver Company
Income Tax Expense for the second quarter:
Pre-tax quarter income = $140,000
Estimated tax rate = 24%
Tax Expense = $140,000 x 24%
= $33,600
Explanation:
a) Data:
Quarter income before tax estimated tax rate
first $100k 30%
second $140k 24%
b) Denver's quarter second income tax expense is the product of the pretax income for the second quarter and the estimated income tax rate for the quarter. The resulting calculation shows the estimated income tax expense that has to be settled by Denver. If it is not settled in the quarter second period, it has to be carried forward to the next quarter as a liability under the heading, Income Tax Payable.
Disclosure of interest and income tax paid if the indirect method is used. Primary objectives of a statement of cash flows. Disclosure of noncash investing and financing activities.
Answer with Explanation:
The disclosure of interest and income tax paid if the indirect method is used is cited at FASB ACS 230-10-50-2 under the title "Statement of Cashflows-Overall Disclosure-Interest and Income Taxes Paid".The primary objectives of a statement of cash flows is cited at FASB ACS 230-10-10-1 under the title "Statement of Cashflows-Overall Objective".The disclosure of noncash investing and financing activities is cited at FASB ACS 230-10-50-3 under the title "Statement of Cashflows-Overall Disclosure-Noncash Investing and Financing Activities".Explain how you decided whether payments on foreign investment and government transfers counted on the positive or the negative side of the current account balance for the United Kingdom in 2001.
Answer:
The payments on foreign investment and the government transfers counted on the negative side of the current account balance for the United Kingdom in 2001.
Explanation:
A national records the nation's transactions with the rest of the world on exporting, importing, foreign incomes and current transfers, over a defined period of time. The country's current account balance can be positive as a surplus or negative as a deficit. Typically, the payments on foreign investments and the government transfers like foreign aids are rated as negative because they are monies transferred out of the country in a particular period of a time.
The simple rate of return is also called all of the following except ________. annual rate of return unadjusted rate of return accounting rate of return
Answer: annual rate of return
Explanation:
The simple rate of return is also called the unadjusted rate of return or the accounting rate of return.
The simple rate of return is calculated when the incremental net operating income for the year is taken and then divided by the initial investment.
It should be noted that it's not called the annual rate of return.
Lake Incorporated purchased all of the outstanding stock of Huron Company, paying $1,000,000 cash. Lake assumed all of the liabilities. Book values and fair values of acquired assets and liabilities were: Book Value Fair Value Current assets (net) $ 190,000 $ 125,000 Property, plant, equip. (net) 650,000 765,000 Liabilities 255,000 255,000 Lake would record goodwill of
Answer:
Lake would record goodwill of $365,000
Explanation:
Fair value of net assets = Fair value of current asset + Fair value of property, plant and equipment
Fair value of net assets = $125,000 + $765,000
Fair value of net assets = $890,000
Fair market value = Fair value of net assets - Liabilities assumed
Fair market value = $890,000 - 255,000
Fair market value = $635,000
Goodwill = Consideration - Fair market value
= $1,000,000 - $635,000
= $365,000
Hence, the amount of goodwill is $365,000.
How much would you have to deposit today if you wanted to have $60,000 in four years? Annual interest rate is 9%. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided.) b. Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 8% on your investments, how much would you have to deposit today to have $15,000 when you graduate? (Round your answer to 2 decimal places.)
Answer:
a. $42,505.51
b. $12,860.08
Explanation:
The computation of the present value is shown below:-
Present value = FV ÷ (1 + r) × n
= $60,000 ÷ (1 + 0.09) × 4
= 60,000 ÷ 1.411582
= $42,505.51
b. The computation of present value is shown below:-
Present value = FV ÷ (1 + r) × n
= 15,000 ÷ (1 + 0.08) × 2
= 15,000 ÷ 1.1664
= $12,860.08
Therefore we have applied the above formula.
Answer:A: 42,505
B: 12,860
Explanation:
Kashi Sales, L.L.C., produces healthy, whole-grain foods such as breakfast cereals, frozen dinners, and granola bars. Assume payroll for the month of January was $350,000 and the following withholdings, fringe benefits, and payroll taxes apply:_________.
Federal and state income tax withheld $ 120,000
Health insurance premiums (Blue Cross) paid by employer 11,500
Contribution to retirement plan (Fidelity) paid by employer 45,000
FICA tax rate (Social Security and Medicare) 7.65 %
Federal and state unemployment tax rate 6.20 %
Assume that Kashi has paid none of the withholdings or payroll taxes by the end of January (record them as payables), and no employee’s cumulative wages exceed the relevant wage bases.
Required:
1. Record the employee salary expense, withholdings, and salaries payable.
2. Record the employer-provided fringe benefits.
3. Record the employer payroll taxes.
Answer and Explanation:
The Journal entry is shown below:-
1. Salaries expense Dr, $350,000
To Income tax payable $120,000
To FICA tax payable $26,775 ($350,000 × 7.65%)
To Salaries payable $203,225
(Being employee salary expenses is recorded)
2. Salary expense Dr, $56,500
To Accounts payable-Blue cross $11,500
To Accounts payable-Fidelity $45,000
(Being employer-provided fringe benefits is recorded)
3. Payroll tax expenses Dr, $48,475
To FICA tax payable $26,775 ($350,000 × 7.65%)
To Unemployment tax payable $21,700 ($350,000 × 6.20%)
(Being employer payroll taxes is recorded)
Record the following transactions on the books of Splish Brothers Inc.a. On July 1, Splish Brothers Inc. sold merchandise on account to Waegelein Inc. for $16,100, terms 2/10, n/30. b. On July 8, Waegelein Inc. returned merchandise worth $4,900 to Splish Brothers Inc.c. On July 11, Waegelein Inc. paid for the merchandise.
Answer and Explanation:
The Journal entries are shown below:-
1. Accounts Receivable Dr, $16,100
To Sales $16,100
(Being sales is recorded)
2. Sales Returns and Allowances Dr, $4,900
To Accounts Receivable $4,900
(Being return of the merchandise is recorded)
3. Cash Dr, $10,976 ($16,100 - $4,900) × 98%
Sales Discounts Dr, $224 ($16,100 - $4,900) × 2%
To Accounts Receivable $11,200 ($16,100 - $4,900)
(Being cash collection on the account is recorded)
How much time, on average, would a server need to spend on a customer to achieve a service rate of 20 customers per hour?
Answer:
3 hour 18 minutes or 3 hour
Explanation:
According to the given situation, the computation of time on average is shown below:-
The Average waiting time in the system
= [tex]\frac{1}{\mu} -\gamma[/tex]
Now we will put the values into the above formula to reach the time on average which is here below:-
[tex]= \frac{1}{20} - 1[/tex]
[tex]= \frac{1}{19}[/tex]
= 0.053 × 60 minutes
= 3 hours 18 minutes
We assume [tex]\gamma[/tex] is 1 hour
Therefore for computing the time on average we simply applied the above formula.
Rent expense of $3,000 is allocated to Department A and Department B based on square footage. Department A has 5,000 square feet and Department B has 2,500 square feet.
The dollar amount of rent expense allocated to Department B is:_______
Answer:
$1,000
Explanation:
Calculation for the Dollar amount of rent expense allocated to department B
Using this formula
Expense allocated to Department B= Rent expense allocated to Department A and B* Department B square feet/Department A and Department B Square foot
Let plug in the formula
Expense allocated to department B =$3,000*2,500/5,000+2,500
Expense allocated to department B= $3,000 * 2,500 / 7,500
Expense allocated to department B =$7,500,000/7,500
Expense allocated to department B= $1,000
Therefore the Dollar amount of rent expense allocated to department B will be $1,000
A decline in the domestic real interest rate would cause a ________ in net exports and a ________ in the exchange rate.
Answer: fall; rise
Explanation:
The real interest rate is the rate of interest that is received by an investor, lender or after inflation has been taken into consideration.
The real interest rate is when the inflation rate is deducted from the nominal interest rate. A reduction in the domestic real interest rate would cause a fall in net exports and a rise in the exchange rate.
Consider the following: Year Population (Millions) Real GDP ($ Billions) GDP Deflator 2018 121 2019 125 Calculate the percentage change in per capita real GDP between 2018 and 2019: nothing%. (Enter your response as a percentage rounded to two decimal places.)
Answer: 3.59%
Explanation:
Real GDP per capita is the Real GDP divided by the population of the country.
Real GDP per Capita 2018
= 1,150,000,000/ 10,080,000
= 114.0873
= $114.0873
Real GDP per Capita 2019
= 1,430,000,000/ 12,100,000
= $118.1818
Percentage Change
= [tex]\frac{118.1818 - 114.0873}{114.0873}[/tex]
= 3.59%
Uchdorf Company invested $9,000,000 in a new product line. The life cycle of the product is projected to be 7 years with the following net income stream: $360,000, $360,000, $600,000, $1,080,000, $1,200,000, $2,520,000, and $1,444,000.
Required:
Calculate the ARR.
Answer:
Accounting rate of return = 24.10%
Explanation:
The accounting rate of return is the average annual income expressed as a percentage of the average investment.
The simple rate of return can be calculated using the two formula below:
Accounting rate of return
= Annual operating income/Average investment × 100
Average investment = (Initial cost + scrap value)/2
Average profit = Total profit over investment period / Number of years
Total profit = 360,000 + 360,000 + 600,000 +1,080,000, + 1,200,000 + 2,520,000 + 1,444,000 = 7,564,000.00
Average annual profit = 7,564,000/7 = 1,080,571.43
Average Investment = 9,000,000/2= 4500000
Accounting rate of return = 1,080,571.43 /4,500,000 × 100 = 24.10%
Accounting rate of return = 24.10%
Firms that tend to focus on conducting e-business with other businesses are referred to as having a B2B model.
A. True
B. False
Answer:
A. True
Explanation:
B2B model is when companies sell goods or services to other companies instead of a consumer. Also, these transactions can occur through the internet where businesses can generate a contact and make a transaction. Because of this, the statement that says that firms that tend to focus on conducting e-business with other businesses are referred to as having a B2B model is true because this model is about transactions between companies and they can happen through the internet.
Haver Company currently produces component RX5 for its sole product. The current cost per unit to manufacture the required 55,000 units of RX5 follows. Direct materials $ 5.00 Direct labor 9.00 Overhead 10.00 Total costs per unit 24.00 Direct materials and direct labor are 100% variable. Overhead is 70% fixed. An outside supplier has offered to supply the 55,000 units of RX5 for $20.00 per unit. Required: 1. Calculate the incremental costs of making and buying component RX5.
Answer:
If the company makes the component, $165,000 will be saved.
Explanation:
Giving the following information:
Units production= 55,000 units
Production costs:
Direct materials $5
Direct labor $9
Avoidable Overhead= 3
Direct materials and direct labor are 100% variable.
An outside supplier has offered to supply the 55,000 units of RX5 for $20.00 per unit.
We need to determine the total cost of making in-house and buying.
We will take into account only the variable cost (avoidable cost).
Make in-house:
Total cost= 55,000*(5 + 9 + 3)= $935,000
Buy:
Total cost= 55,000*20= $1,100,000
If the company makes the component, $165,000 will be saved.
The "TAO" approach to digital marketing analytics stands for.
Answer:
The "TAO" approach to digital marketing stands for the way through which digital marketers can make themselves heard in the digital world in the midst of all the digital noise. He believed that, apprenticeships is the best way.
This offers the person a great way to gain both knowledge and experience while getting paid at the same time. For example,there are more and more apprenticeship bodies someone can engage with like The Juice Academy and Arch Apprentices.
Explanation:
1. The Lounge Company manufactures slippers and sells them at $10 a pair. Variable manufacturing cost is $4.75 a pair, and allocated fixed manufacturing cost is $0.75 a pair. It has enough idle capacity available to accept a one-time-only special order of 30,000 pairs of slippers at $5.50 a pair. Lounge will not incur any marketing costs as a result of the special order. What would the effect on operating income be if the special order could be accepted without affecting normal sales: (a) $0, (b) $22,500 increase, (c) $142,500 increase, or (d) $165,000 increase? Show your calculations. 2. The St. Paul Company manufactures Part No. 498 for use in its production line. The manufacturing cost per unit for 25,000 units of Part No. 498 is as follows:
Answer:
1. The Lounge Company
The effect on operating income be if the special order could be accepted without affecting normal sales:
(b) $22,500 increase
2. Manchester
Explanation:
1. The Lounge Company:
Selling price = $10 per pair
Variable manufacturing cost = $4.75 per pair
Allocated fixed manufacturing cost = $0.75 per pair
Total manufacturing costs = $5.50
Special order of 30,000 pairs
Price of special order = $5.50 per pair
Sales value of special special order = $165,000 (30,000 x $5.50)
Manufacturing cost for special order:
Based on full cost = $165,000 (30,000 x $5.50)
Based on variable cost = $142,500 (30,000 x $4.75)
Contribution = $22,500 ($165,000 - $142,500)
The special order will not bring about any increase in operating income if the full cost is used to determine the net income. If, however, the variable cost is used, considering that The Lounge Company has idle capacity, then there is a contribution of $22,500 to the operating income.
The direct labor budget of Yuvwell Corporation for the upcoming fiscal year contains the following details concerning budgeted direct labor-hours:
1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Budgeted direct labor-hours 11,000 9,700 10,000 10,800
The company uses direct labor-hours as its overhead allocation base. The variable portion of its predetermined manufacturing overhead rate is $5.75 per direct labor-hour and its total fixed manufacturing overhead is $78,000 per quarter. The only noncash item included in fixed manufacturing overhead is depreciation, which is $19,500 per quarter.
Required:
a. Prepare the company’s manufacturing overhead budget for the upcoming fiscal year.
b. Compute the company’s predetermined overhead rate (including both variable and fixed manufacturing overhead) for the upcoming fiscal year.
Answer:
Manufacturing Overhead Budget
Quarter 1st 2nd 3rd 4th
Variable Overheads $63,250 $55,775 $57,500 $62,100
Fixed Overheads $78,000 $78,000 $78,000 $78,000
Total Overheads $141,250 $133,775 $135,500 $140,100
Explanation:
When Preparing the Manufacturing Overhead Budget Note the following :
The Manufacturing Overheads Include Both Fixed and Variable Overheads.Be careful to absorb the Variable overheads cost at the direct labor-hour.Fixed Overheads can Include both cash and non-cash items.How would you respond to the argument that it is impossible to judge how successful a project like this one would have been unless you actually do it
Answer:
Explain forecasting
Explanation:
This implies that I will have to let the other person know that it possible to judge how successful a project would be by doing what is called forecasting.
Forecasting allows one to project to a reasonable extent what the success level of a project would be, especially in terms of it's revenue, overall expenses before the project is carried out. A good forecasting tool is Forecast web application which provides future estimates of budget and task duration.
Suppose the 2020 adidas financial statements contain the following selected data (in millions). Current assets $4,575 Interest expense $200 Total assets 9,000 Income taxes 178 Current liabilities 3,050 Net income 236 Total liabilities 5,670 Cash 800 Compute the following values. (a) Working capital. $ millions (b) Current ratio. (Round to 2 decimal places, e.g. 6.25:1.) :1 (c) Debt to assets ratio. (Round to 0 decimal places, e.g. 62%.) % (d) Times interest earned.
Answer:
a. $1,525 million
b. 1.50 times
c. 29 %
Explanation:
Working capital = Current Assets - Current Liabilities
= $4,575 million - $3,050 million
= $1,525 million
Current Ratio = Current Assets ÷ Current Liabilities
= $4,575 million ÷ $3,050 million
= 1.50 times
Debt to Asset ratio = Interest bearing Debt / Total Assets × 100
= ($ 5,670 - $3,050) / $9,000 × 100
= 29 %
Firms with high capital intensity ratios have found ways to lower this ratio permitting them to achieve a given level of growth with fewer assets and consequently less external capital. For example, just-in-time inventory systems, multiple shifts for labor, and outsourcing production are all feasible ways for firms to reduce their capital intensity ratios. True or False
Answer: True
Explanation:
The capital intensity ratio of a company
is used to measure the amount of capital that is required per dollar of revenue. The capital intensity ratio is calculated when the total assets that a company has is divided by its sales.
It should be noted that firms that has high capital intensity ratios have found ways to lower this ratio which allows them to achieve a given level of growth with fewer assets and consequently less external capital.
You have learned at work that today’s successful companies at all levels have one thing in common: they are heavily committed to marketing and strongly ________.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) Obtaining the best CEOs
b) Increasing wealth to stockholders
c) Customer focused
d) Employee motivation
e) Social responsibility
And the correct answer is the option C: Customer focused.
Explanation:
To begin with, nowadays due to the fact of the globalization and the increase in the use of social networks and the huge impact of the use of the internet the companies had to adapt to the new conditions and in that part is where the marketing enters because is used as a huge instrument in the battle in order to obtain more customers. Therfore that the successful companies of today have one thing in common in all their levels inside the organization and is that the marketing is one of the most important weapons that they had and that they have to be strongly focused in their customers.
Eastern Corporation has $1,000 par value bonds with 4 years to maturity. The bonds pay an 8% coupon rate with semi-annual coupon interest payments. The bond's closing price is quoted at 101.25. Suppose you purchase the bond for the closing price. What is the bond's yield to maturity?
Answer:
7.64%
Explanation:
For computing the yield to maturity we have to applied the RATE formula i.e to be shown in the attachment
Given that,
Present value = $1,000 × 101.25 = $1,012.50
Future value or Face value = $1,000
PMT = 1,000 × 8% ÷ 2 = $40
NPER = 4 years × 2 = 8 years
The formula is shown below:
= Rate(NPER;PMT;-PV;FV;type)
The present value come in negative
So, after applying the above formula,
The yield to maturity is
= 3.82% × 2
= 7.64%
The bond's yield to maturity:
Given Information,
Present value = $1,000 × 101.25 = $1,012.50 Future value or Face value = $1,000 PMT = 1,000 × 8% ÷ 2 = $40 NPER = 4 years × 2 = 8 years
Yield to maturity = 3.82% × 2
Yield to maturity= 7.64%
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U.S. net capital outflow Group of answer choices is a source of the supply of loanable funds, and the source of the supply of dollars in the foreign exchange market. is a source of the supply of loanable funds, and a source of the demand for dollars in the foreign exchange market. is a part of the demand for loanable funds, and the source of the supply of dollars in the foreign exchange market. is a part of the demand for loanable funds, and a source of the demand for dollars in the foreign exchange market.
Answer:
Option D would be the correct choice.
Explanation:
The net capital outflow has been the discrepancy among purchasing foreign assets from a region, as well as selling domestic currency worldwide. Find a basket of products similar across both the United States or even just Taiwan. Such net capital outflows allude to something like the disparity between households and businesses acquiring overseas investments versus non-residents acquiring domestic currency.The other options in question aren't relevant to the particular context. So choice D is perhaps the right one.
You have invested 20 percent of your portfolio in Homer, Inc., 40 percent in Marge Co., and 20 percent in Bart Resources. What is the expected return of your portfolio if Homer, Marge, and Bart have expected returns of 2 percent, 18 percent, and 3 percent, respectively?
Answer:
Expected return = 8.2%
Explanation:
A portfolio is a collection of assets/ investment. The return on a portfolio is the weighted average of all the return of the individual assets weighted according to the percentage of total funds allocated to each assets.
Expected return on portfolio:
E(R) =( Wa*Ra) + (Wb*Rb) + (Wc*Rc) + Wn*Rn
W= Weight i.e proportion of fund invested in each asset class
Wa = 20%, Wb- 40%, Wc- 20%
Ra-2%, Rb-18%, Rc- 3%
E(R) = (0.2 *2%) + (0.4× 18%) + (0.2*3%) = 8.2%
Expected return = 8.2%
If network externalities exist in an industry, the ________ firm to enter the market is often the one that succeeds in dominating the industry.
Answer: first
Explanation:
Network externality simply has to with how the demand for a product by other consumers influences ones decision to buy that particular product or service.
When network externalities exist in an industry, it should be noted that the first firm to enter the market is often the one that succeeds in dominating the industry. This is because it is from this particular firm that the consumers will make purchases from .
If a perfectly competitive firm and a monopolistic competitor in long-run equilibrium face the same demand and cost curves, then the competitive firm will produce a
Answer: a. the former will earn zero economic profits, but the latter will earn positive economic profits.
Explanation:
In the long-run, conditions are different for Monopolies and Perfectly competitive firms.
In the long -run, a Perfectly competitive firm would see no economic profits due to the low barriers to entry in the market which will see companies coming into the market and increasing competition to a point where no single firm can make an economic profit.
With a Monopoly though, they are the single supplier in the market and as such will make economic profits in the long run from charging consumers are a rate higher than their marginal cost. As they are the only or major ones in the market, the price will not be challenged leading to an economic profit.
If a perfectly competitive firm and a Monopoly had the same demand and cost curves, the Perfect competition firm would make less as their cost curves would be close or at the same level with the demand but the cost curves would be less than demand for the Monopoly leading to economic profits.
A modified DCF analysis is best for evaluating and selecting the optimal strategic alternative when a company has ___ goal(s) and ___ measure(s).
Answer: single; quantitative
Explanation:
The discounted cash flow analysis is a method that is used to determine the value of a project, security, or assets by using time value of money.
The discounted cash flow analysis is used in real estate, investment finance, patent valuation etc. A modified DCF analysis is best for evaluating and selecting the optimal strategic alternative when a company has single goal(s) and quantitative measures.
Answer:
Multiple; quantitative
Explanation:
A modified DCF analysis is best for evaluating and selecting the optimal strategic alternative when a company has ___ goal(s) and ___ measure(s).
What transportation mode has very high initial investment costs but gives a very low cost per mile for products that are highly specialized and require no packaging?
Complete Question:
What transportation mode has very high initial investment costs but gives a very low cost per mile for products that are highly specialized and require no packaging?
Group of answer choices.
A. Highway
B. Rail
C. Water
D. Pipeline
E. Air
Answer:
D. Pipeline.
Explanation:
Pipeline transportation can be defined as the long-distance transportation of consumer fluid products such as liquefied natural gases or crude oil, through a system of interconnected pipes.
As a result of the long distance being covered, pipeline transportation mode has very high initial investment costs because it requires excavation of the soil to enable the laying of pipes running into several miles.
However, the advantage of the pipeline transportation mode is that it gives a very low cost per mile for products that are highly specialized and require no packaging.
