The production possibilities model illustrates an inverse relationship between two goods or services because Group of answer choices of diminishing returns. some goods are more difficult to produce that others. the opportunity cost of producing more of something will rise. production of different types will compete for limited resources.
Answer:
production of different types will compete for limited resources.
Explanation:
The production possibilities curve (PPC) is also known as the production possibilities frontier (PPF) and its a curve which illustrates the maximum (best) combinations of two products that can be produce in an economy if they both depend on these factors;
1. Technology is fixed.
2. Resources are fixed.
Hence, the production possibilities curve represents maximum combinations of products available with fixed resources and technology.
Additionally, the production possibilities curve influences the choice of production used by companies and as such it helps to make the best decision regarding the optimum product mix for a company.
Basically, the production possibilities model illustrates an inverse relationship between two goods or services (an increase in the production of one good or service results in a decrease in the production of another and vice-versa) because production of different types will compete for limited resources.
This ultimately implies that the manufacturing or production of one item (product) is likely to rise or increase provided the production of the other item (product) falls or decreases.
The Most Brilliant Professor Mullen Company's past experience indicates that 60% of its credit sales are collected in the month of sale, 30% in the next month, and 5% in the second month after the sale; the remainder (5%) is never collected. Budgeted credit sales were: January $240,000 February 144,000 March 360,000 The cash inflow (CRJ) in the month of March is expected to be A) $271,200. B) $205,200. C) $216,000. D) $259,200.
Answer: A. $271,200
Explanation:
Cash inflow in March will be:
= (60% * March sales) + (30% * February sales) + (5% * January sales)
= (60% * 360,000) + (30% * 144,000) + (5% * 240,000)
= 216,000 + 43,200 + 12,000
= $271,200
DonCo. Inc. sold merchandise on January 14, and accepted a 90 day, 5% promissory note in the amount of $5,000. On January 14, the entry to record this transaction would include a debit to:
a. Cash in the amount of $5,000
b. Notes Receivable in the amount of $5,000
c. Accounts Receivable in the amount of $5,000
d. Sales in the amount of $5,000
Is increasing the entrepreneurial orientation of a firm always a good thing?
Answer:
Not always. It's a good thing to develop new business opportunities, but not if it leads to too many inefficiencies connected to resources and learning curves.
Slavery, as a business practice protected by state laws, provided unfair advantage against those employers not using slaves, and thus the economic incentives supported and sustained slavery within its sealed environment.
A. True
B. False
what is the various nation income meature
Explanation:
Concept of National Income
The National income is the total amount of income accruing to a country from economic activities in a year time. It includes payments made to all resources either in the form of wages, interest, rent, and profit.
Sandoval needs to determine its year-end inventory. The warehouse contains 33,000 units, of which 4,300 were damaged by flood and are not sellable. Another 3,300 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 5,300 units at a consignee's location. How many units should Sandoval include in its year-end inventory
Answer:
37,300
Explanation:
Calculation to determine How many units should Sandoval include in its year-end inventory
Using this formula
Year-end inventory units=(Warehouse units- Damaged units)+ Units purchased+ Units at consignee's location
Let plug in the formula
Year-end inventory units=(33,000 - 4,300) +3,300+5,300
Year-end inventory units=28,700+3,300+5,300
Year-end inventory units=37,300
Therefore How many units should Sandoval include in its year-end inventory is 37,300
g A company has beginning inventory of 16 units at a cost of $24 each on February 1. On February 3, it purchases 34 units at $26 each. 22 units are sold on February 5. Using the FIFO periodic inventory method, what is the cost of the 22 units that are sold
Answer:
$188
Explanation:
FIFO method assumes that the units to arrive first will be sold first. Hence the cost of sales will be valued using the prices of earlier or older units.
Cost of Sales = 16 units x $24 + 6 units x $26
= $188
Thus, the cost of the 22 units that are sold is $188.
A satellite radio company is the sole supplier of a brand-new service providing commercial-free music that competes with existing free, broadcast-radio music delivered via antennas. The service is automatically activated for a 6-month introductory free-trial period, and is only available to people who purchase a new car with a specially equipped receiver. After the trial period, customers must call the company to activate and retain the service. Match each customer below to the radio company’s best profit-maximizing price strategy.
a. Ricardo explains that he is indifferent to the new service, and has not yet sampled many of the stations.
b. Joe, who explains that he needs music to sing along with while he commutes two hours each day for work.
c. Natasha, who says that she likes the service, but who commutes less than a half hour each day for work.
1. high price
2. medium price
3. low price
The company's best profit-maximizing price strategy based on the views of their customers is:
Ricardo - Low price. Joe - High price. Natasha - Medium price. What is the company's best profit-maximizing price strategy?The company should charge more to customers that use the service a lot. This is why Joe should be charged the highest price.
Natasha would like to use the commercial music service more but she doesn't commute to work much so a medium price would be good.
Ricardo is indifferent and hasn't used the service much and so should get the lowest price.
Find out more on profit-maximization at https://brainly.com/question/15969466.
Pattison Products, Inc., began operations in October and manufactured 40,000 units during the month with the following unit costs:
Direct materials $5.00
Direct labor 3.00
Variable overhead 1.50
Fixed overhead 7.00
Variable marketing cost 1.20
Fixed overhead per unit 1.20
Total fixed factory overhead is $280,000 per month. During October, 38,400 units were sold at a price of $24, and fixed marketing and administrative expenses were $130,500.
Required:
1. Calculate the cost of each unit using absorption costing.
2. How many units remain in ending inventory? What is the cost of ending inventory using absorption costing?
3. Prepare an absorption-costing income statement for Pattison Products, Inc., for the month of October.
Answer:
Following are the responses to the given question:
Explanation:
For question 1:
Calculating the cost per unit:
[tex]\text{Direct material}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$5\\\\\text{Direct labor} \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$3\\\\\text{Variable overhead}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$1.5\\\\\text{Fixed overhead}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$7\\\\\text{Cost per unit}\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$16.5\\\\[/tex]
For question 2:
Calculating the ending inventory units:
[tex]= \text{Beginning inventory + units produced - ending inventory}\\\\= 0+40,000-38,400\\\\= 1600\ units\\\\[/tex]
Calculating the cost for the Ending inventory:
[tex]=1600\ units \times \$16.5\\\\=\$26,400\\\\[/tex]
For question 3:
Calculating the absorption costing for the income statement:
Particular Amount
Sales [tex](38,400\times \$24)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$921,600[/tex]
-COGS[tex](38,400\times \$16.5)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$633,600[/tex]
Gross profit [tex]\$288,000[/tex]
Cost of variable marketing [tex](\$1.2\times 38,400)\ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \ \$46,080[/tex]
marketing and administrative costs are fixed [tex]\$130,500[/tex]
Net income [tex]\$111,420[/tex]
Journal Entry
On November 1, the company rented space to another tenant. A check in the amount of $9,000, representing three months' rent in advance, was received from the tenant on that date. The payment was recorded with a credit to the Unearned Rent account. Complete the necessary adjusting entry for December 31 by selecting the account names and dollar amounts from the drop-down menus.
Date Account Title Debit Credit
Dec. 31 selectAccounts ReceivableAccumulated DepreciationCashDepreciation ExpenseEquipmentEquipment ExpenseRent RevenueSalaries ExpenseSalaries PayableService RevenueSuppliesSupplies ExpensesUnearned Rent Revenue select300060009000 select300060009000
selectAccounts ReceivableAccumulated DepreciationCashDepreciation ExpenseEquipmentEquipment ExpenseRent RevenueSalaries ExpenseSalaries PayableService RevenueSuppliesSupplies ExpensesUnearned Rent Revenue select300060009000 select300060009000
Answer:
Explanation:
unearned rent 6000 (debit)
Rent revenue. 6000 (credit)
to record 2 months of realized rent revenue
Unilever has a subsidiary in Japan. The valuation of this MNC should
rise when an event causes the expected cash flows from Japan to ____
and when JPY is expected to ____.
Answer: increase; appreciate.
Explanation:
A multinational firm is regarded as a firm that's located in different countries. It should be noted that the valuation of this multinational company should
rise when there's an event that causes the expected cash flows from Japan to increase and also when the currency JPY is expected to appreciate. Appreciate her simply means when there's an increase in the value of JPY.
The biggest question Sally has for you is about recovering the initial capital invested which she wishes to bundle as the initial building and land costs well as the future roof and common area expenses. The income stream for the apartment complex is only monthly rent money. How much should she charge for monthly rent in order to at least recover the bundled capital invested
Answer:
Sally should charge $1,280 per month for 18 months.
Explanation:
Sally has bought the land for $8,000 and she has invested in constructing the building $12,040. She has further invested $2,000 for future roof and common area expenses amount to $1,000. The total capital she has invested is $23,040. She should charge $1,280 per month for next 18 months in order to cover the bundled capital investment.
When real GDP grows more slowly than potential GDP, labor productivity falls. the unemployment rate rises. nominal GDP rises. the unemployment rate falls.
Answer:
the unemployment rate rises.
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Potential GDP is the GDP of an economy when labour and capital are employed at their sustainable rate.
Real GDP has been adjusted for inflation. It reflects the value of goods and services produced in an economy.
When the real GDP of an economy grows more slowly than potential GDP, it means that the resources in the economy, labour and capital are not employed at their sustainable rate. This is referred to as output gap. As a result of the output gap, the unemployment level rises
On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.
Required:
Journalize the adjusting entry on December 31 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles.
Answer:
Dr Amortization Expense $3,000
Cr Patents $3,000
Explanation:
Preparation of the journal adjusting entry on December 31 to recognize the amortization.
Dec. 31
Dr Amortization Expense $3,000
Cr Patents $3,000
(To record Amortization)
Amortization=(Patent rights/Useful life)*6/12
Amortization=($36,000/6)*6/12
Amortization=$3,000
(July 1 to Dec 31 =6months)
Newhard Company assigns overhead cost to jobs on the basis of 114% of direct labor cost. The job cost sheet for Job 313 includes $26,530 in direct materials cost and $10,500 in direct labor cost. A total of 1,400 units were produced in Job 313.
Required:
a. What is the total manufacturing cost assigned to Job 313?
b. What is the unit product cost for Job 313?
Answer:
Results are below.
Explanation:
Giving the following information:
Estimated overhead rate= 114% of direct labor cost.
Job 313:
Direct materials= $26,530
Direct labor= 10,500
Number of units= 1,400
First, we need to allocate overhead to Job 313:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 10,500*1.14= $11,970
Now, the total cost:
Total cost= 26,530 + 10,500 + 11,970
Total cost= $49,000
Finally, the unitary cost:
Unitary cost= 49,000 / 1,400
Unitary cost= $35
Marwick Corporation issues 8%, 5-year bonds with a par value of $1,100,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 6%.
What is the bond's issue (selling) price, assuming the following Present Value factors:
1n = i = Present value of an annuity Present value of 1
(Series of payments) (Single sum)
5 8% 3.9927 0.6806
10 4% 8.1109 0.6756
5 6% 4.2124 0.7473
10 3% 8.5302 0.7441
Answer: $1,193,838.80
Explanation:
The price of a bond is the sum of the present value of the coupon payments and the face value at maturity.
= Present value of coupon payments + Present value of face value at maturity
First adjust the variables for semi-annual:
Number of periods = 5 * 2 = 10 semi annual periods
Coupon payment = 8% * 1,100,000 * 1/2 years = $44,000
Yield = 6% / 2 = 3%
Present value of coupon payments:
The coupon payments are constant so are an annuity:
= Annuity * Present value of an annuity factor, 10 periods, 3%
= 44,000 * 8.5302
= $375,328.80
Present value of face value
= 1,100,000 * Present value of 1, 3%, 10 periods
= 1,100,000 * 0.7441
= $818,510
Selling price:
= 375,328.80 + 818,510
= $1,193,838.80
Fore Farms reported a pretax operating loss of $137 million for financial reporting purposes in 2021. Contributing to the loss were (a) a penalty of $5 million assessed by the Environmental Protection Agency for violation of a federal law and paid in 2021 and (b) an estimated loss of $12 million from accruing a loss contingency. The loss will be tax deductible when paid in 2022. The enacted tax rate is 25%. There were no tem
Answer: Hello your question is incomplete attached below is the complete question
answer:
1) attached below
2) Net operating income ( loss ) = - $104 million
Explanation:
Pretax operating loss = - $137 million
Non deductible Losses ; $5 million fine paid in 2021 ,
estimated $12 million loss from contingency that will be tax deductible in 2022
Enacted tax rate = 25%
Taxable operating income = - $120 million
attached below is the solution
pls help me with in this i just want the 3 and 4th one...
Answer:
3. The special concept reminded by the phrase "Exchanging Butter Cake for Dates" is:
Trade by barter.
4. The need fulfilled by this business is people's demand for Cake.
The want fulfilled by this business is the organization's supply of dates for its production of cake.
Explanation:
A trade by barter involves the exchange of one good or service by one trading party for another good or service from the coincidental trading party without the use of money or monetary mediums. Trade by barter enables people without money to fulfill their needs. The major problem with trade by barter is that there must be coincidence of wants by the two trading partners. This is not always feasible.
Burlington Construction Company is considering selling excess machinery with a book value of $281,000 (original cost of $400,100 less accumulated depreciation of $119,100) for $277,400, less a 5% brokerage commission. Alternatively, the machinery can be leased for a total of $284,300 for five years, after which it is expected to have no residual value. During the period of the lease, Burlington Construction Company's costs of repairs, insurance, and property tax expenses are expected to be $25,000.
Required:
Prepare a differential analysis, dated January 3, 2012, to determine whether Sure-Bilt should lease (Alternative 1) or sell (Alternative 2) the machinery.
Answer:
hiiiiiiiiiiiiiii how r u
Chang Co. issued a $50,000, 120-day, discounted note to Guarantee Bank. The discount rate is 6%. Assuming a 360-day year, the cash proceeds to Chang Co. are:________
a. $49,750
b. $47,000
c. $49,000
d. $51,000
Answer:
c. $49,000
Explanation:
Calculation to determine what the cash proceeds to Chang Co. are:
Cash proceed=$50,000-($50,000*6%*120/360)
Cash proceed=$50,000-$1,000
Cash proceed=$49,000
Therefore the cash proceeds to Chang Co. are:$49,000
Total planned expenditure (equals total output) is 14,000 when autonomous consumption expenditure is 450. When autonomous consumption expenditure falls to 400, total planned expenditure (equals total output) is 13,800. The marginal propensity to consume is _______. A) 0.89 B) 0.75 C) 0.99 D) 0.44
Answer:
The marginal propensity to consume = 0.25
Explanation:
Given:
Planned expenditure = 14,000
Consumption expenditure = 450
New consumption expenditure = 400
New planned expenditure = 13,800
Find:
The marginal propensity to consume
Computation:
The marginal propensity to consume = [Consumption expenditure - New consumption expenditure] / [Planned expenditure - New planned expenditure]
The marginal propensity to consume = [450 - 400] / [14,000 - 13,800]
The marginal propensity to consume = 50 / 200
The marginal propensity to consume = 0.25
Blooming Sun investment corporation is facing problems in their records
maintenance, So they have decided to launch a new Management Information
system. The cost of MIS includes 150 computers at $500 each, 5 Printers at
$400 each, 5 network connections at $900 each, 20 boxes of Papers and
stationery at $50 each, 5 Scanners at $2995 each. The training cost that is
required to be provided to the staff includes fringe benefits $50 each to 150
participants, 15 trainers at $ 500 each. Training room is required for three
sessions which will cost $750 per session and administrative cost is $300 per
session.
The experts have estimated that the new MIS will be helpful in adding $25000
per year in benefits.
Questions:
1. Identify the direct cost, Training cost and total cost of Management information system?
2. In how many years the breakeven of this project cost will be achieved?
Answer:
Achived that the breakeven
1. Direct cost is:
= $97,475
Training cost is:
= $18,150
Total cost of Management Information System is:
= $115,625
2. The number of years that the break-even of this project cost will be achieved is:
= 5 years.
Data and Calculations:
Cost of the MIS:
150 computers at $500 each, = $75,000 (150 x $500)
5 Printers at $400 each = 2,000 (5 x $400)
5 network connections at $900 each = 4,500 (5 x $900)
20 boxes of Papers and stationery at $50 each 1,000 (20 x $50)
5 Scanners at $2,995 each 14,975 (5 * $2,995)
Total direct costs of the new MIS = $97,475
The training costs:
Fringe benefits $50 each to 150 participants = $7,500 ($50 x 150)
15 trainers at $ 500 each. 7,500 ($500 x 15)
Training room cost $750 per session 2,250 ($750 x 3)
Administrative cost is $300 per session 900 ($300 x 3)
Total cost of training $18,150
Total cost of the Management Information System = $115,625 ($97,475 + $18,150)
Annual benefits = $25,000
Break-even project cost (payback period) will be achieved in 4.625 years ($115,625/$25,000)
= 5 years approximately
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True or false: Interest expense and income tax expense are considered general and administrative expenses and, therefore, are included on the general and administrative expense budget. True false question. True False
Answer: True
Explanation:
Interest expense and income tax expenses generally are stand-alone expenses but they fall under general and administrative expenses required to run the business.
Interest expense is charged on debt that was taken to run the company so will be an admin expense and tax is part of the expenses that a company has to take care of in order to run the company so it is an admin expense as well.
Asonia Co. will pay a dividend of $4.95, $9.05, $11.90, and $13.65 per share for each of the next four years, respectively. The company will then close its doors. If investors require a return of 9.2 percent on the company's stock, what is the stock price
Answer: $30.86
P = $4.95/(1 + .92) + $9.05/(1 + .92)^2 + $11.90/(1 + .92)^3 + $13.65/(1 + .92)^4
P = 4.53+7.59+ 9.14+ 9.60=$30.86
Explanation:
Dividend discount: Dividend year 1 divided by (1 plus the required rate of return)
PLUS Dividend year 2 divided by (1 plus the required rate of return) to the second power
PLUS Dividend year 3 divided by (1 plus the required rate of return) to the third power
PLUS Dividend year 4 divided by (1 plus the required rate of return) to the fourth power
how is corporate income tax similar to direct tax ? (2)
Answer:
Corporate tax is an expense of a business (cash outflow) levied by the government that represents a country's main source of income, whereas personal income tax is a type of tax governmentally imposed on an individual's income, such as wages and salaries.
Entries for Installment Note Transactions On the first day of the fiscal year, Shiller Company borrowed $63,000 by giving a five-year, 12% installment note to Soros Bank. The note requires annual payments of $17,773, with the first payment occurring on the last day of the fiscal year. The first payment consists of interest of $7,560 and principal repayment of $10,213. Journalize the entries to record the following:
a. Issued the installment note for cash on the first day of the fiscal year.
b. Paid the first annual payment on the note. For a compound transaction, if an amount box does not require an entry, leave it blank.
c. Explain how the notes payable would be reported on the balance sheet at the end of the first year.
Answer:
Shiller Company
Journal Entries:
a) Jan. 1 Debit Cash $63,000
Credit 12% Note Payable (Soros Bank) $63,000
To record the issuance of the five-year, 12% installment note.
December 31: Debit Note Payable (Soros Bank) $10,213
Debit Interest Expense $7,560
Credit Cash $17,773
To record the first repayment, including interest.
c. The notes payable would be reported as Long-term Liability at $52,787.
Explanation:
a) Data and Analysis:
Jan. 1 Cash $63,000 12% Note Payable (Soros Bank) $63,000
Issuance of a five-year, 12% installment note.
December 31: Note Payable (Soros Bank) $10,213 Interest Expense $7,560 Cash $17,773
Balance of Notes Payable on December 31:
Amount of note = $63,000
Repayment = (10,213)
Balance of note = $52,787
QS 8-4 Units-of-production depreciation LO P1 On January 1, the Matthews Band pays $65,800 for sound equipment. The band estimates it will use this equipment for four years and perform 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During the first year, the band performs 45 concerts. Compute the first-year depreciation using the units-of-production method.
Answer:
$14,355
Explanation:
Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)
(45/200) x ($65,800 - $2000) =
0.225 x 63800
$14355
Cash Dividends on Common and Preferred Stock Lemon Inc. has the following information regarding its preferred and common stock: Preferred stock, $30 par, 12% cumulative; 300,000 shares authorized; 150,000 shares issued and outstanding Common stock, $2 par; 2,500,000 shares authorized; 1,200,000 shares issued; 1,000,000 outstanding As of December 31, 2019, Lemon was 3 years in arrears on its dividends. During 2020, Lemon declared and paid dividends. As a result, the common stockholders received dividends of $0.45 per share. Required: 1. What was the total amount of dividends declared and paid during 2020? Total dividends declared and paid $fill in the blank c3f04df87fe8040_1 2. During 2020, what journal entry was made at the date of declaration?
Answer:
1. $2,610,000
2. Dr Dividends $2,610,000
Cr Dividends Payable $2,610,000
Explanation:
1. Calculation to determine the total amount of dividends declared and paid during 2020
Arrear Preferred Dividends $1,620,000 (150,000*30*12%*3 years)
Add Current Preferred Dividends $540,000 (150,000*30*12%)
Add Common stock Dividends $450,000 (1,000,000*$0.45 )
Total amount of dividends declared and paid $2,610,000
Therefore the total amount of dividends declared and paid during 2020 is $2,610,000
2. Preparation of the journal entry was made at the date of declaration
Dr Dividends $2,610,000
Cr Dividends Payable $2,610,000
Required: 1. What was ? Total dividends declared and paid $fill in the blank c3f04df87fe8040_1 2. During 2020, what journal entry was made at the date of declaration?
Summarise the five (5) types of directors in incorporated companies.
