Answer:
Cost of goods purchased= $2,350,000
Explanation:
Giving the following information:
Beginning inventory 2006= ending inventory 2005= $200,000
Ending inventory 2006= $350,000
COGS 2006= $2,200,000
To calculate the purchases for 2006, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
2,200,000 = 200,000 + cost of goods purchased - 350,000
2,200,000 - 200,000 + 350,000 = cost of goods purchased
cost of goods purchased= $2,350,000
Suppose the government decides that every family should own its own home. To bring this about, the government decides to subsidize the home-construction industry by giving the home-construction companies $10,000 for every house that they build. As a result of this,
Answer: the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.
Explanation:
Since the government decides to subsidize the home-construction industry by giving the home-construction companies $10,000 for every house that they build, then the supply curve of new houses would shift rightward, since builders would be willing to produce and sell more houses at each given price.
Builders will be willing to produce more houses because they'll intend to get the $10000 given by the government and this will be a source of motivation. Therefore, the supply curve will shift to the right.
In 2020, Courtney, 16 and a dependent of her mother, had earned income of $4,000 and interest income (unearned) of $9,500. What is Courtney's federal income tax liability (before credits)? Courtney's mother is in the 35% marginal tax bracket.
Answer:
The Tax Liability is $1,400
Explanation:
Income is only taxable when it is earned. Any unearned income is not taxable
As unearned income is not taxable then there will be no tax on the unearned interest income of $9,500.
The only taxable income is earned income of $4,000
Use the following formula to calculate the tax liability
Tax liability = Taxable income x Tax rate
Where
Taxable income = $4,000
Tax rate = 35%
Placing values in the formula
Tax liability = $4,000 x 35%
Tax liability = $1,400
The model of decision making that explains how managers should make decisions, assuming managers will make logical decisions that will be the optimum in furthering the organization's best interests, is known as the ________. For example, a manager who uses this model may be personally opposed to outsourcing jobs overseas, but she nonetheless decides to outsource customer-service operations to India because doing so is in the company's best interests. Group of answer choices rational decision-making model solutions agenda focused decision-making model interpersonal-decision agenda employee relations model
Answer:
rational decision-making model
Explanation:
The rational decision-making model is a logical way of making decisions. These types of decisions are based on objectivity and not subjectivity. This means that a person makes decisions that are not based on emotions or personal opinions rather they are dependent on facts and realities.
Managers who use this model make decisions that minimize costs and maximize benefits. Therefore, their main aim in adopting this model is to make decisions that will be of utmost benefit to the organization.
The most long-lasting strategic alliances Multiple Choice (1) involve collaboration with suppliers or distribution allies, or (2) conclude that continued collaboration is in their mutual interest, perhaps because new opportunities for learning are emerging. aim at insulating the partners against the impacts of the five competitive forces and industry driving forces. are those whose purpose is helping a company master a new technology. are those formed to enable the partners to be consistent first movers or fast followers. aim at teaming up with world-class suppliers or else companies with world-class know-how in product innovation.
Answer:
(1) involve collaboration with suppliers or distribution allies, or (2) conclude that continued collaboration is in their mutual interest, perhaps because new opportunities for learning are emerging.
Explanation:
The strategic alliances that are long lasting should include the collaboration made with the suppliers also it is concluded that if there is continued collaboration so it is a mutual interest so new opportunities that are learned should be emerged
Therefore the first two options should be considered
Wardsworth, Inc., manufactures and sells two products: Product I9 and Product Z9. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product I9 700 6.0 4,200 Product Z9 900 8.0 7,200 Total direct labor-hours 11,400 The direct labor rate is $26.00 per DLH. The direct materials cost per unit for each product is given below: Direct Materials Cost per Unit Product I9 $ 226.10 Product Z9 $ 151.20 The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Activity Cost Pools Activity Measures Estimated Overhead Cost Expected Activity Product I9 Product Z9 Total Labor-related DLHs $ 463,980 4,200 7,200 11,400 Machine setups setups 9,814 300 400 700 Order size MHs 105,792 4,400 4,300 8,700 $ 579,586 The unit product cost of Product I9 under the company's traditional costing method in which all overhead is allocated on the basis of direct labor-hours is closest to: (Round your intermediate calculations to 2 decimal places.) rev: 03_25_2018_QC_CS-119201 Multiple Choice $466.22 per unit $626.30 per unit $687.14 per unit $455.06 per unit
Answer:
Predetermined overhead rate = Estimated overhead / Estimated direct labor hour
Predetermined overhead rate = $579,586 / 11400
Predetermined overhead rate = $50.84 per direct labor hour
Unit Product cost - Z9
Particulars Per unit cost
Direct material $151.20
Direct labor (8*$26) $208.00
Overhead (8*$50.84) $406.72
Unit Product Cost $765.92
Suppose the money market, drawn with the value of money on the vertical axis, is in equilibrium. If the money supply increases, then at the old value of money there is an a. excess demand for money that will result in a decrease in spending. b. excess demand for money that will result in an increase in spending. c. excess supply of money that will result in a decrease in spending. d. excess supply of money that will result in an increase in spending.
Answer: excess supply of money that will result in an increase in spending
Explanation:
The money market refers to the total amount of money that's in circulation in an economy at a particular time.
If the money supply increases, this implies that there'll be more money available for the people in the economy to spend. This ultimately leads to the increase in the demand for goods and services in an economy.
Therefore, the correct option will be "excess supply of money that will result in an increase in spending".
Employees will perceive that their opinions are more valued if Multiple Choice they're given personalized, closed-end question-type employee opinion surveys. they're provided settings where employees have the opportunity to converse with all levels of management. they're given emails from the CEO on a regular basis. the company emphasizes job simplification.
Answer:
they're provided settings where employees have the opportunity to converse with all levels of management.
Explanation:
In the case when the employees would perceive as per their opinion and their opinion are most valued so that means it gives the setting at the time when the employees have the opportunity for conversing the management levels
so as per the given options, the second one option is correct
And, all other options are wrong
Family Farms Inc., a company which deals in dairy products, adheres to a standard of behavior for its employees, and it follows certain practices that reflect the moral principles and values held by the company and that guide the conduct of the individuals in the company. Which practice is described in this scenario
Answer:
The right response is "Business ethics".
Explanation:
An ethics framework that always considers the moral standards as well as problems that occur mostly in a corporation but also function as a guide for the behavior of people throughout the organization.Meanwhile, corporation governments facilitate the collection of values and conventions governing as well as controlling the business of the company.A low-cost leader can translate its low-cost advantage over its rivals into superior profit performance by
Answer:
either using its low-cost edge to underprice competitors and attract price sensitive buyers in large enough numbers to increase total profits or refraining from price-cutting and using the low-cost advantage to earn a bigger profit margin on each unit sold.
Explanation:
Competitive advantage is the edge that a firm has over others in the same industry that results in higher profit margins for them.
One of the importance competitive advantages is price advantage.
This results from the firm being a low cost leader. Their cost of production is low enough for them to attract customers that are price sensitive leading to increased profits.
Also they can underprice their competitors or earn profit margins on the reduced cost of production per unit
Answer:
The low-cost leader can try to underprice the rest of the competition in order to attract more customers. Lower prices should increase total sales volume which will help to increase profits by offsetting fixed costs and increasing the total contribution margin. This strategy can be used as long as the firm is able to produce under economies of scale.
Explanation:
Mother and Daughter Enterprises is a relatively new firm that appears to be on the road to great success. The company paid its first annual dividend yesterday in the amount of $.28 a share. The company plans to double each annual dividend payment for the next three years. After that time, it is planning on paying a constant $1.50 per share indefinitely. What is one share of this stock worth today if the market rate of return on similar securities is 11.5%
Answer:
$12.43
Explanation:
Price of the stock can be determined by calculating the present value of the stock
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow in year 1 = 0.28 x 2
Cash flow in year 2 = 0.56 x 2
Cash flow in year 3 = 1.12 + 1.50 0.115
I = 11.5
PV = 12.43
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
On March 12, Klein Company, Inc. sold merchandise in the amount of $7,800 to Babson Company, with credit terms of 2/10, n/30. The cost of the items sold is $4,500. Klein uses the perpetual inventory system. On March 15, Babson returns some of the merchandise. The selling price of the returned merchandise is $600 and the cost of the merchandise returned is $350. The entry or entries that Klein must make on March 15 is:
Answer:
Date Account Title Debit Credit
March 15, Sales returns and allowances $600
Accounts Receivable $600
Merchandise Inventory $350
Cost of Goods Sold $350
Investment interest expense includes:
A. interest expense from loans to purchase corporate bonds and interest expense from loans to purchase stocks.
B. interest expense from loans to purchase corporate bonds.
C. interest expense from loans to purchase municipal bonds.
D. interest expense from loans to purchase municipal bonds and interest expense from loans to purchase corporate bonds.
E. interest expense from loans to purchase stocks.
Answer:
A)) interest expense from loans to purchase corporate bonds and interest expense from loans to purchase stocks.
Explanation:
An investment interest expense can be regarded as any amount of interest which is been paid on proceeds of loan that is been used in purchasing investments or securities. investment interest expense can be regarded as been deductible under some particular circumstances.
It should be noted that investment interest expense include;
✓interest expense from loans to purchase corporate bonds
✓ interest expense from loans to purchase stocks.
A lease agreement contains a clause that gives the tenant the right to purchase the property at a specified price. This type of agreement is called a
Answer: Finance Lease
Explanation:
There are two main types of leases which are operating leases and finance leases. Operating leases work much like an asset being rented so no ownership is passed from the person leasing to the leasee.
When it comes to finance leases however, the person leasing treats the asset as if it is their own. They record depreciation and list it as an asset in their balance sheets. At the end of the lease term, the leasee then has the option to purchase the asset.
Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: Acquired $30,000 cash from the issue of common stock. Borrowed $40,000 cash from National Bank. Earned cash revenues of $48,000 for performing services. Paid cash expenses of $25,000. Paid a $1,000 cash dividend to the stockholders. Acquired an additional $20,000 cash from the issue of common stock. Paid $10,000 cash to reduce the principal balance of the bank note. Paid $53,000 cash to purchase land. Determined that the market value of the land is $75,000.
Answer:
The accounting equation holds as follows:
Assets = Liabilities + Shareholders' Equity = $102,000
Explanation:
Note: This question not complete as the requirement is omitted. The requirement is therefore provided to complete the question before answering the question as follows:
Required:
Record the preceding transactions in the horizontal statements model. Also, in the Cash Flows column, classify the cash flows as operating activities (OA), investing activities (IA), or financing activities (FA).
The explanation of the answer is now provided as follows:
Note: See the attached excel file for the the horizontal statements in which the transactions are recorded.
From the attached excel file, we have:
Assets = Cash + Land = $49,000 + $53,000 = $102,000
Liabilities = Notes Payable = $30,000
Shareholders' Equity = Common Stock + Retained Earnings = $50,000 + $22,000 = $72,000
Liabilities + Shareholders' Equity = $30,000 + $72,000 = $102,000
Therefore, the accounting equation holds as follows:
Assets = Liabilities + Shareholders' Equity = $102,000
Also note that no figure is recorded for "Determined that the market value of the land is $75,000" because it does affect the horizontal statement since an asset must be recorded at the historical cost.
If both buyers and sellers expect the price of a commodity to fall in the future, it is likely that the market clearing price ________ and the equilibrium quantity ________.
Answer:
Fall; Can not be determined
Explanation:
Fall; Can not be determined
The fall in the prices of commodities in future will result in a decrease in demand at present and the seller will try to sell at the highest possible price so it will increase the supply. Resulting, the demand curve will shift leftwards and the supply curve will shift rightwards. But, the magnitude of shift in supply curve will decide the quantity. So, quantity can be increased or decreased. Thus prices will fall but quantity can not be determined.
Monetarists argue that the Federal Reserve System should
A. institute a prescribed rate of growth in the money supply.
B. self-correction is less effective than activist monetary policy.
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
D. since velocity is unstable, a fixed annual increase in the money supply will exacerbate inflation in the long run.
Answer:
C. policymakers should use monetary policy rather than fiscal policy to stabilize the economy.
Explanation:
Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy."
According to monetarists, a monetary policy is a policy that involves the regulation or control of money supply, including the rate of interest such that it regulates the microeconomic of a nation. Hence, Monetarists argue that the Federal Reserve System should "use monetary policy rather than fiscal policy to stabilize the economy, " because it helps in the control of inflation, consumption, development, and cash flow.
Which option will cause a business to lose money from a failing product
Group of answer choices.
A. Rebrand the product
B. Spin off the product
C. Discontinue the product
D. Continue the product
Answer:
D. Continue the product
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks etc.
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
A product that is at the decline stage is generally referred to as a failed product and wouldn't generate profit or much revenue for the manufacturer because it has little economic importance.
This ultimately implies that, continuing with a failed product is an option which will cause a business to lose money from a failing product.
Answer:
D. Continue the product
Explanation:
Which option will cause a business to lose money from a failing product Continue.
Suppose 1,000 students were split into two groups of 500. Both groups were first presented with an image of a new high-end pair of jeans produced by Tommy Hilfiger, a clothing company. The first group was given the following statement and then asked the following question: "The normal retail price of these jeans is $100. Would you be willing to pay $75 for them?" The second group was given the following statement and then asked the following question: "The normal retail price of these jeans is $250. Would you be willing to pay $75 for them?" Suppose that 24% of the students in the first group answered yes and that 73% of the students in the second group answered yes. It is likely that more students in the second group were willing to pay $75 for the pair of jeans because they were told the normal price was much higher. This is an example of a ________ effect in decision-making.
Question Completion:
A) clothing B) marketing C) utilitarian D) framing E) psychosomatic
Answer:
This is an example of a ___framing_____ effect in decision-making.
Explanation:
The framing effect in decision-making means that decisions are influenced by the different semantic descriptions of the same issue. This different framing of the same issue causes people to develop different risk preferences, indicating that their decisions are based on the potential value of losses they would suffer or gains they would garner rather than the final outcome.
Mrs. Young is currently enrolled in Original Medicare (Parts A and B), but she has been working with Agent Neil Adams in the selection of a Medicare Advantage (MA) plan. It is mid-September, and Mrs. Young is going on vacation. Agent Adams is considering suggesting that he and Mrs. Young complete the application together before she leaves. He will then submit the paper application before the start of the annual enrollment period (AEP). What would you say If you were advising Agent Adams
Answer:
Not good.
Explanation:
Mrs. Young is leaving on vacation in mid-September. Before Mrs. Young departs, Agent Adams is contemplating recommending that he and Mrs. Young finish the registration together.
This is a terrible plan. Prior to the beginning of the AEP, agents are typically barred from soliciting or receiving registration forms.
According to Garrett et al. (1975, 1988, 1989), language production proceeds through a series of processes: ______, ______, and ______.
Answer:
According to Garrett et al. (1975, 1988, 1989), language production proceeds through a series of processes: conceptualization , formulation , and articulation .
How long must one wait (to the nearest year) for an initial investment of $1,000 to triple in value if the investment earns 8% compounded annually
Answer:
t = 14 years
Explanation:
The computation of the time period is shown below:
As we know that
Future value = Present value ×(1 + rate of interest)^time period
$3,000 = $1,000 × (1 + 0.08)^time period
3 = 1.08^time period
Now multiply log to both sides
So,
lof(3) ÷ log(1.08) = t
t = 14 years
Si hacemos una compra en cuenta corriente ¿ obtenemos un "descuento" en el precio de un objeto o un recargo en el mismo ?
Answer:
Un recargo, pequeño, en el mismo.
Explanation:
Una cuenta corriente es una cuenta bancaria destinada a depósitos y retiros corrientes, y la utilización de cheques a tales fines. Dado que el uso de cheques como medio de pago ha disminuido a niveles muy bajos, la emisión de cheques ha disminuido y, en ocasiones, se ha abolido por completo. Sin embargo, la cuenta corriente a nombre sobrevive en algunos casos en el habla cotidiana.
El propósito de una cuenta de transacciones es usarse para una gran cantidad de depósitos y retiros. Los términos y condiciones de la cuenta normalmente incluyen el derecho a realizar un número ilimitado de transacciones con los fondos de la cuenta sin ningún tipo de bloqueo u otras medidas de limitación de liquidez. Por otro lado, el banco normalmente ofrece tasas de interés muy bajas o nulas sobre los fondos en circulación.
Hoy en día, la cuenta de transacciones a menudo está vinculada a varias formas de soluciones de banca por Internet para permitir pagos y otras transacciones a través de la computadora del cliente del banco. El banco también suele proporcionar tarjetas de cajero automático o tarjetas de débito a particulares con cuentas de transacciones.
June enters into a contract with Steeley Company to purchase a washer and dryer. She doesn’t understand the financing terms but signs the agreement anyway because she needs the appliances. The financing terms violate state laws on interest rate limits and she is unable to make all of her payments when they are due. Steeley sues when June breaches the contract. The court would:
Answer: be exercising judicial restraint if it requires June to pay as she promised, even if the agreement was unfair and unwise.
Explanation:
Judicial restraint simply means a situation whereby judges aren't allowed to inject their own preferences into rulings and legal proceedings. It simply means that judges should limit exercising their own power during legal proceedings.
In this case, since June doesn't understand the contract but still signed, the court would be exercising judicial restraint if it requires June to pay as she promised, even if the agreement was unfair and unwise. It's advisable for the court not to interfere in the matter and follow the normal proceedings.
Which is not one of the arguments that low-income countries might have an advantage in achieving greater worker productivity and economic growth in the future
Solution :
One of the argument that the low income countries will not have an advantage in achieving a high productivity of the workers as the economic growth in the near future is the increasing in marginal returns.
It occurs only when any addition in the variable input (i.e. labor) to a fixed input (i.e. capital) enables such variables input to be more productive. In other words, 2 workers are more than twice as productive as 1 worker and 4 workers are more than twice as productive as 2 workers.
3M, an American firm, manufactures adhesive tape in St. Paul, Minnesota, and ships the tape to South Korea for sale. According to this information, 3M uses ________ to deliver this product. A. exporting B. licensing C. franchising D. insourcing E. outsourcing
Answer: exporting
Explanation:
Exporting refers to the sale of products and services that are sources or made in a particular country to foreign countries. On the other hand, importing is the purchasing of goods and services from the foreign countries and then bringing them into the home country.
In this case since 3M manufactures adhesive tape in St. Paul, Minnesota, and ships the tape to South Korea for sale, this is exporting.
The emphasis of the Second New Deal was on a.economic recovery, creating government programs to address the immediate needs of the unemployed. b.protecting the rights of businesses, especially small businesses. c.economic security, in an effort to protect Americans against poverty and unemployment. d.civil rights for African-Americans.
The correct answer is A) economic recovery, creating government programs to address the immediate needs of the unemployed.
The emphasis of the Second New Deal was on economic recovery, creating government programs to address the immediate needs of the unemployed.
The Second New Deal included new programs to extend federal aid and stimulate the nation's economy, such as the Rural Electrification Administration.
In the decade of 1930s, rural America had no electricity and clear water. The Rural Electrification Administration hired Lester Beall, a graphic designer that created a series of posters describing the benefits of electrification for the communities.
Another example is President Roosevelt’s works progress administration of 1935 that considered many infrastructure programs for the benefit of the U.S. citizens. He also considered the Federal Project Number One. This was a program aimed to help writers, musicians, and artists. Roosevelt aimed to get jobs for these people in order to entertain the American citizens during those difficult times.
According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then a. the price level would be unchanged and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. both the price level and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.
Answer:
C
Explanation:
Quantity theory of money : money supply x velocity = price x output
money supply x velocity = nominal GDP
It is assumed that velocity is constant. So, if money supply increases, both the price level and real GDP would rise by 5 percent
The economic term that describes the satisfaction that consumers gain from consuming goods and services is
Answer:
utility
Explanation:
Answer:
Utility
Explanation:
I got the answer right on my test
What is the effect of inflation? A. During periods of inflation, just about everyone can make themselves better off by specializing in their own profession rather than dabbling as amateur economists and inflation forecasters and managing their investment portfolios. B. With inflation, everyone loses. C. The increased uncertainty of inflation misallocates resources. D. During periods of inflation, investment rises and economic growth increases.
Answer:
C. The increased uncertainty of inflation misallocates resources.
Explanation:
Inflation is referred as the situation of the economy in which the prices of the goods and services gets increased to an alarming rate. The amount used to purchase those products fail to meet the purchasing power. The economy is effected drastically. Inflation creates a situation in which there arises an uncertainty regarding investment and savings. There arises situations in which the shortages of food and basic amenities are experienced during inflation.
Skipper’s Pet Products was started by Steve to sell a range of dog food and treats made from fish. Due to fish being a very perishable product, different methods are used to preserve the life and quality of the product. Arguably, the best method, albeit the most labour intensive and time-consuming, is to dry the fish over several days. This process maintains the nutritional content of the fish, which is often lost using other methods, and it is this that enables Skipper’s to offer a product with a clear USP.
The company is based in Steve’s hometown of Grimsby and he is proud of the local fishing heritage. The fish used in Skipper’s products is sourced from the docks in Grimsby or nearby Hull. Steve says the location of the business means that raw materials and qualified labour are easy to source.
Skipper’s Pet Products have lots of competition, but the competitors buy low quality fish
in China and cook the treats at high temperatures which removes some nutrients so they
are not high quality, healthy dog treats like Skipper’s treats.
The company website allows Skipper’s to sell their dog treats to customers all over the UK. The website sales are increasing each month and generate a larger profit margin than Skipper’s sales to pet shops.
question: Evaluate whether locating Skipper’s close to raw materials was the most important
factor Steve should have considered when choosing a location for his business.
You should use your knowledge of the business as well as the information provided
Answer: Yes it was
Explanation:
When considering where you should set up location, it is best to look at the cost of locating your business from various perspectives such as raw material acquisition, transport to suppliers, transport to customers and accessibility.
Depending on the business, some factors would have to be given more weight. In the above scenario, raw material acquisition and transport from suppliers should be given a higher weight because the goods are perishable and so costs would be high if the location is too far from the source of the fish.
Given that technology has made it easier to sell from many places, transport to customers is not as major a factor as transport to suppliers. The most important factor to focus on for this business therefore is raw material acquisition and by locating the company so close to the source, the cost to acquire the raw material from suppliers was heavily reduced so this was the best option.
