Answer: budget deficit
Explanation:
From the question, we are informed that the total spending for the federal government of Lilliput for the last fiscal year was $1.06 billion and that the country collected $1.05 billion in taxes during this same fiscal year.
Since the expenditure of $1.06 billion is more than the revenue of $1.05 billion, this show that there was a budget deficit.
Given the following data: Average operating assets $ 504,000 Total liabilities $ 23,520 Sales $ 168,000 Contribution margin $ 85,680 Net operating income $ 45,360 Return on investment (ROI) is:
Answer:
9%
Explanation:
According to the given situation, the solution of return on investment is shown below:-
Return on investment = (Net operating income ÷ Average operating assets) × 100
now, we will put the values into the above formula
= ($45,360 ÷ $504,000) × 100
= 0.09 × 100
= 9%
Therefore for computing the return on investment we simply applied the above formula.
Data mining is important because any customer can become a brand advocate or adversary by freely expressing opinions and attitudes that reach millions of other customers on social media.a. Trueb False
Answer: False
Explanation:
Dta mining is the generation of new information by examining large databases that are already in existence. In data mining, raw data will be eventually turned to useful information which will be used to increase sales, develop marketing strategies, and decrease costs.
The information that data mining is important because any customer can become a brand advocate or adversary by freely expressing opinions and attitudes that reach millions of other customers on social media is false.
A loan is being repaid by 15 annual installments of 1,000 each. Interest is at an effective annual rate of 5%. Immediately after the fifth installment is paid, the loan is renegotiated. The revised amortization schedule calls for a sixth installment of 800, a seventh installment of (800 + K), with each subsequent installment increasing by K over the previous payment. The period of the loan is not changed. Determine the revised amount of the last installment.
Answer:
the last installment = $1,239.42
Explanation:
renegotiated agreement:
year payment
1 $1,000
2 $1,000
3 $1,000
4 $1,000
5 $1,000
6 $800
7 $800 + K
8 $800 + 2K
9 $800 + 3K
10 $800 + 4K
11 $800 + 5K
12 $800 + 6K
13 $800 + 7K
14 $800 + 8K
15 $800 + 9K
we must first determine the original loan and to do that we need the PV of the original payment schedule:
PV = $1,000 x 10.380 (PV annuity factor, 5%, 15 periods) = $10,380
now we find the present value of the first 5 installments:
PV = $1,000 x 4.3295 (PV annuity factor, 5%, 5 periods) = $4,329.50
$10,380 - $4,329.50 = $6,050.50
now to find K:
$6,050.50 = $800/1.05⁶ + ($800 + K)/1.05⁷ + ($800 + 2K)/1.05⁸ + ($800 + 3K)/1.05⁹ + ($800 + 4K)/1.05¹⁰ + ($800 + 5K)/1.05¹¹ + ($800 + 6K)/1.05¹² + ($800 + 7K)/1.05¹³ + ($800 + 8K)/1.05¹⁴ + ($800 + 9K)/1.05¹⁵ = 596.97 + 568.55 + 0.71K + 541.47 + 1.35K + 515.69 + 1.93K + 491.13 + 2.46K + 467.74 + 2.92K + 445.47 + 3.34K + 424.26 + 3.71K + 404.05 + 4.04K + 384.81 + 4.33K = $4,840.14 + 24.79K
$6,050.50 = $4,840.14 + 24.79K
$6,050.50 - $4,840.14 = 24.79K
$1,210.36 = 24.79K
K = $48.82
the last installment = $800 + 9K = $800 + (9 x $48.82) = $1,239.42
At December 31, 2018, Hull-Meyers Corp. had the following investments that were purchased during 2018, its first year of operations:
Cost Fair Value
Trading Securities:
Security A $ 930,000 $ 943,000
Security B 135,000 129,400
Totals $ 1,065,000 $ 1,072,400
Securities Available-for-Sale:
Security C $ 730,000 $ 807,000
Security D 930,000 946,200
Totals $ 1,660,000 $ 1,753,200
Securities to Be Held-to-Maturity:
Security E $ 520,000 $ 530,600
Security F 645,000 639,400
Totals $ 1,165,000 $ 1,170,000
No investments were sold during 2018. All securities except Security D and Security F are considered short-term investments. None of the fair value changes is considered permanent.Required:Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.)
Answer:
The Totals computed are as follows:
Current Assets = $2,399,400
Noncurrent Assets = $1,591,200
Net Income (I/S) = $7,400
Other Comprehensive income (OCI) = $93,200
Total Comprehensive Income = $100,600
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the full question.
The explanation to the answer is now provided as follows:
Required: Compute the below table to calculate the following. (Amounts to be deducted should be indicated with a minus sign.)
Note: See the attached Excel file for the computed table.
Also note the following:
1. In the computed table, all the Trading Securities and Securities Available-for-Sale are stated at Fair Value, and the Net Income (I/S) of each of the security is calculated by deducting the Cost of each of them their Fair Value.
2. Securities to Be Held-to-Maturity are stated at Cost and therefore, no profit is reported for them.
Suppose that in 1969, the U.S. economy was operating close to potential. The budget deficit experienced by the United States in 1969 was:
Answer: primarily cyclical deficit
Explanation:
Budget deficit occurs when the government expenditure for a certain year is more than the revenue the government makes.
Since the the United States economy was operating close to potential. The budget deficit experienced by the United States in 1969 was primarily cyclical deficit.
In recent years, industries with high four- and eight-firm concentration ratios include cars, cereal breakfast foods, and farm machinery.
a) true
b) false
Answer: True
Explanation:
The Four-Firm Concentration Ratio simply measures aggregate market share of the four biggest firms that are in a particular industry while the Eight-Firm Concentration Ratio measures that of the eight biggest firms.
It is true that in recent years, industries with high four- and eight-firm concentration ratios include cars, cereal breakfast foods, and farm machinery.
S Corporation makes 50,000 motors to be used in the production of its sewing machines. The average cost per motor at this level of activity is: Direct materials $ 10.90 Direct labor $ 9.90 Variable manufacturing overhead $ 4.15 Fixed manufacturing overhead $ 5.10 An outside supplier recently began producing a comparable motor that could be used in the sewing machine. The price offered to S Corporation for this motor is $28.15. If S Corporation decides not to make the motors, there would be no other use for the production facilities and none of the fixed manufacturing overhead cost could be avoided. Direct labor is a variable cost in this company. The annual financial advantage (disadvantage) for the company as a result of making the motors rather than buying them from the outside supplier would be: Multiple Choice $160,000 $367,500 ($95,000) $255,000
Answer:
If the company makes the motors, it will save $160,000.
Explanation:
Giving the following information:
Production= 50,000 units
Production costs:
Direct materials $10.90
Direct labor $9.90
Variable manufacturing overhead $4.15
The price offered to S Corporation for this motor is $28.15.
We will take into account only the avoidable costs:
Make in-house:
Total cost= 50,000*(10.9 + 9.9 + 4.15)= $1,247,500
Buy:
Total cost= 50,000*28.15= $1,407,500
If the company makes the motors, it will save $160,000.
Often the life of a whistleblower involves tremendous ridicule and scrutiny from others, despite doing the "right thing." Describe your views as to why whistleblowers face tremendous obstacles as a result of bringing the inappropriate actions of otehrs to light.
Answer:
Find the explanation below.
Explanation:
Whistleblowing is the act of raising an alarm over unethical or illegal acts committed by people holding political or public service positions. The whistleblower is most times motivated by the quest to end the injustice or negative impact suffered by the disadvantaged group. Whistleblowers suffer tremendous obstacles from the people they have exposed because;
1. The offender's source of illegal income has been withdrawn. Just like humans fight for survival when their source of livelihood is taken away, so would a person fight against whatever that tends to take away their illegal source of wealth.
2. Fear of being seen in a negative light by others. The person committing a crime usually puts up an act of innocence, thus presenting himself as a morally upright person. When the whistleblower tries to expose their true identity, it is only expected that they would try to shut him up.
_____ refers to the choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted marketsA. Segmentation
B. Supply chain
C. Logistics
D. Marketing mix
E. Media plan
Answer:
D. Marketing mix.
Explanation:
Marketing mix refers to the choices about product attributes, distribution strategy, communication strategy, and pricing strategy that a firm offers its targeted markets.
Generally, a marketing mix is made up of the four (4) Ps;
1. Products: this is typically the goods and services that gives satisfaction to the customer's needs and wants. They are either tangible or intangible items.
2. Price: this represents the amount of money a customer buying goods and services are willing to pay for it.
3. Place: this represents the areas of distribution of these goods and services for easier access by the potential customers.
4. Promotions: for a good sales record or in order to increase the number of people buying a product and taking services, it is very important to have a good marketing communication such as advertising, sales promotion, direct marketing etc.
RLW-II Enterprises estimated that indirect manufacturing costs for the year would be $60 million and that 12,000 machine hours would be used
Answer: $3,150,000
Explanation:
Total cost of production will be the total sum of the material costs, labor costs and indirect costs.
Indirect Costs
It was estimated that 12,000 machine hours would be used at a cost of $60 million.
Indirect cost per machine hour is;
= 60,000,000/12,000
= $5,000 per hour
With 200 machine hours, indirect cost is;
= 200 * 5,000
= $1,000,000
Total cost of production = 1,250,000 + 900,000 + 1,000,000
= $3,150,000
Division ABC has $750,000 invested in assets and earned $200,000 in income. Division XYZ has $800,000 invested in assets and earned $210,000 in income. The company's target rate is 10%. Which division has the highest residual income
The division that has the highest residual income is:.Division XYZ.
Residual incomeResidual income for ABC
Residual income=200,000-(0.10×750,000)
Residual income=200,000-75,000
Residual income=$125,000
Residual income for XYZ
Residual income=210,000 -(0.10×80,000)
Residual income=210,000-80,000
Residual income=$130,000
Inconclusion the division that has the highest residual income is:.Division XYZ.
Learn more about residual income here:https://brainly.com/question/22985922
How does technological change affect industry evolution? And how should firms manage product adoption and diffusion?
Answer:
How does technological change affect industry evolution?
Technological change greatly affects industry evolution. It is perhaps the most important factor in industry evolution, because technological advancements create new industries, and cause the death of other industries.
For example, the telephone industry replaced the telegraph industry, and the internet has made many technologies obsolete.
And how should firms manage product adoption and diffusion?
Firms should manage product adoption and diffusion in a strategic matter. Firms should look for new products with some anticipation in other to make a profit on customer and technological trends. Firms should also establish when to discard old products that are becoming obsolete in the market.
In a company's annual report, the section called Management Discussion and Analysis provides critical information for interpreting the financial statements and assessing the future of the company.
A. True
B. False
Answer:
A. True
Explanation:
The section called Management Discussion and Analysis in an annual report analyzes the performance of a company, includes comments from the management about the financial statements to allow the readers to understand the information in a better way and includes the future objectives and plans. According to this, the answer is that the statement that indicates that in a company's annual report, the section called Management Discussion and Analysis provides critical information for interpreting the financial statements and assessing the future of the company is true.
In the context of situational analysis, the ________ includes the attitudes and reactions of the general public, social and business critics, and other organizations, such as the Better Business Bureau.A) political environmentB) social environmentC) competitive environmentD) legal environment
Answer:
political environment
Explanation:
Situational analysis involves using various methods to check a business organization both internally and externally. Such an analysis would be used to know the strength, environment and customers of this organization.
The political environment in situational analysis includes the reaction and attitude of the general public, as well as critics (both business and social) and other organizations.
Occupational fraud comes in many shapes and sizes. The fraud at Rite Aid is one such case. On February 10, 2015, the U.S. Attorney's Office for the Middle District of Pennsylvania announced that a former Rite Aid vice president, Jay Findling, pleaded guilty to charges in connection with a $29.1 million dollar surplus inventory sales/kickback scheme. Another former vice president, Timothy P. Foster, pleaded guilty to the same charges and making false statements to the authorities. Both charges are punishable by up to five years' imprisonment and a $250,000 fine.
The charges relate to a nine-year conspiracy to defraud Rite Aid by lying to the company about the sale of surplus inventory to a company owned by Findling when it was sold to third parties for greater amounts. Findling would then kick back a portion of his profits to Foster.
Findling admitted he established a bank account under the name "Rite Aid Salvage Liquidation" and used it to collect the payments from the real buyers of the surplus Rite Aid inventory. After the payments were received, Findling would send lesser amounts dictated by Foster to Rite Aid for the goods, thus inducing Rite Aid to believe the inventory had been purchased by J. Finn Industries, not the real buyers. The government alleged Findling received at least $127.7 million from the real buyers of the surplus inventory but, with Foster's help, only provided $98.6 million of that amount to Rite Aid, leaving Findling approximately $29.1 million in profits from the scheme. The government also alleged that Findling kicked back approximately $5.7 million of the $29.1 million to Foster.
Foster admitted his role during the guilty plea stage of the trial. He voluntarily surrendered $2.9 million in cash he had received from Findling over the life of the conspiracy. Foster had stored the cash in three 5-gallon paint containers in his Phoenix, Arizona, garage.
Assume you are the director of internal auditing at Rite Aid and discover the surplus inventory scheme. You know that Rite Aid has a comprehensive corporate governance system that complies with the requirements of Sarbanes-Oxley and the company has a strong ethics foundation. Moreover, the internal controls are consistent with the COSO framework.
1. To encourage various groups to come forward and report fraud, Dodd-Frank extended whistle-blowing privileges and rewards to which of the following?
A. Internal auditors.
B. External auditors.
C. The CEO.
D. All of these are correct.
2. Whistleblowers who meet the criteria are eligible to receive an award based on what was collected as a result of the monetary sanctions. This can vary from_________.
a. 1 to 10 percent.
b. 10 to 30 percent.
c. 15 to 35 percent.
d. 1 to 50 percent, depending on the magnitude of the fraud.
Answer:
1. To encourage various groups to come forward and report fraud, Dodd-Frank extended whistle-blowing privileges and rewards to which of the following?
D. All of these are correct.
2. Whistleblowers who meet the criteria are eligible to receive an award based on what was collected as a result of the monetary sanctions. This can vary from_________.
a. 1 to 10 percent.
Explanation:
In whistleblowing against a fraud in a company or an organization, the maximum amount which the whistleblower can receive is 10% of the money recovered (or involved) while the least amount would be 1% of the said recovered money
Consider a $1,000-par-value 20-year zero-coupon bond issued at a yield to maturity of 10%. If you buy that bond when it is issued and continue to hold the bond as yields decline to 9%, the imputed interest income for the first year of that bond is
Answer:
$14.87
Explanation:
Computation the imputed interest income for the first year of the bond
First step
Using this formula
Imputed interest income= Par value/(1+yield to maturity)^Numbers of years
Let plug in the formula
Imputed interest income$1,000/(1.10)^20
Imputed interest income= $1,000/6.72749
Imputed interest income=$148.64
Second step
Imputed interest income=$1,000/(1.10)^19= Imputed interest income=$1,000/6.11590
Imputed interest income=$163.51
Hence,
Imputed interest income=$163.51 - $148.64
Imputed interest income= $14.87
Therefore the imputed interest income for the first year of the bond will be $14.87
Barney Corporation reported the following figures for their year ending December 31, 2019: Gross profit: 538,000 Cost of goods sold: 453,000 Net income: 230,000 Using the data above, calculate Barney Corp's 2019 Gross Profit Margin.
Answer:
Barney Corp.'s gross profit margin for 2019 = 54.29%
Explanation:
gross profit margin = (net sales - cost of goods sold) / net sales
net sales - cost of goods sold = gross profit = $538,000net sales = gross profit + cost of goods sold = $538,000 + $453,000 = $991,000gross profit margin = $538,000 / $991,000 = 0.5429 = 54.29%
Which item below is an incorrect statement about the difference between the discount rate and the federal funds rate? a) The federal funds rate has a higher interest rate than the discount rate to encourage borrowing b) The discount rate is the interest rate at which the Fed charges the bank for loans c) The federal funds rate is the interest rate at which banks charge each other for loans d) The discount rate is directly changed by the Fed while the federal funds rate is changed indirectly.
Answer:
a) The federal funds rate has a higher interest rate than the discount rate to encourage borrowing
Explanation:
The Feds fund rate is the rate at which banks borrow from each other usually overnight, while the discount rate is the interest rate charged by the Fed to commercial banks for borrowing directly from the Fed.
These borrowings help the commercial banks meet up their liquidity requirements.
The discount rate is higher than the Fed funds rate. This is to encourage banks to borrow from each other instead of borrowing directly from the Federal Reserve.
The Fed fund rate also tends to affect the prime lending rate (rate at which banks lend money to their clients).
So the statement - The federal funds rate has a higher interest rate than the discount rate to encourage borrowing. Is not correct
The Vice-President of ACME Corporation, an NYSE listed firm, places an order to buy 10,000 shares of ACME common at the market. 3 months later, ACME stock's price has increased by 20% and the officer places an order to sell. Which statement is TRUE
Answer: D. The officer must forfeit the profit on the sale
Explanation:
The Vice-president of ACME who is the one attempting to sell is an officer of ACME and as such falls under Rule 144 of the Securities Exchange Act of 1934 as a control person.
This Act is meant to curb market manipulation and so it places restrictions on some activities by officers of a company. One of which is that for the seller to claim any profits on such sales, they would have to had held the stock for at least 6 months so that they do not have a "short swing" profit. If they do so, they are to pay the profits accrued back to the Issuer of the stock so indeed, the officer must forfeit the profit on the sale.
Which one of the following are tools that company managers can use to promote operating excellence in performing value chain activities?
a. Benchmarking, cost effciency optimization, and value chain performance optimazation programs
b. Six signma programs, value chain performance optimazation programs, and best practice innovation programs
c. Total quality management, cost optimization, and value chain efficient programs
d. Business process reengineering, best practice standardization programs, and six sigma
e. adoption of best practices, TQM, and business process reengineering
Answer:
e. adoption of best practices, TQM, and business process reengineering
Explanation:
To promote operational excellence in the execution of value chain activities, the most appropriate tools to be implemented in an organization are the adoption of best practices, TQM and business process reengineering.
Total quality management refers to the continuous improvement of all operational processes, in order to reduce costs, failures, and waste, leading to the implementation, control and review of all organizational processes, including the adoption of advanced technology, adequate training for employees, etc.
Business process reengineering would also help the organization reevaluate its value chain and implement improvements that would increase the performance and functionality of each essential step in the value chain.
Therefore, these integrated tools would ensure continuous optimization at all stages of the value chain, which would mean for the company the effectiveness of the channels and activities for the company to produce the right product, in the right quantity, in the right place and at the right time.
You are planning to save for retirement over the next 30 years. To do this, you will invest $900 a month in a stock account and $600 a month in a bond account. The return of the stock account is expected to be 8 percent, and the bond account will pay 5 percent. When you retire, you will combine your money into an account with a return of 6 percent. How much can you withdraw each month from your account assuming a 15-year withdrawal period
Answer:
$15,533.69
Explanation:
the future value of your stock account = $900 x 1,490.48048 (FV annuity factor, 0.6667%, 360 periods) = $1,341,432.43
the future value of your bond account = $600 x 832.32019 (FV annuity factor, 0.4167%, 360 periods) = $499,392.11
after 30 years, the balance of your 2 accounts = $1,840,824.54
the monthly withdrawal = $1,840,824.54 / 118.50531 (PV annuity factor, 0.5%, 180 periods) = $15,533.69
A manufacturer of hospital supplies has a uniform annual demand for 500,000 boxes of bandages. It costs $10 to store one box of bandages for one year and $250 to set up the plant for production. How many times a year should the company produce boxes of bandages in order to minimize the total storage and setup costs?
Answer: company can produce boxes 100 times per year.
Explanation:
Ordering cost per order, S = $250
Annual demand, D = 500,000
Holding or carrying cost per unit, = $10
Economic order Quantity = [tex]\sqrt{2 x Annual demand X ordering cost /carrying cost}[/tex]
=[tex]\sqrt{ 2 X 500,000 X 250 /10}[/tex] = [tex]\sqrt{25,000,000}[/tex] = 5000
Optimal order quantity = 5000 boxes.
Number of times company can produce boxes = Annual Demand/ Optimal order quantity = 500,000 / 5000 = 100 times
Where can a Master Admin Accountant User view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant?
Answer:
The answer is below
Explanation:
A Master Administrator is normally the individual who is tasked at establishing the company file in QuickBooks Online.
In other words, Master Admin possesses access to all portions of the company file and can grant authorizations and access to other users.
Therefore, a Master Admin Accountant User can view the apps connected to a client’s QuickBooks Online account from within QuickBooks Online Accountant by doing the following:
1. Go to Settings
2. Select Manage Users.
3. Select Accounting firms.
4. Under the Company section, Select View Apps.
Answer:
Left Navigation Bar > Apps > Client Apps
Explanation:
For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual inventory (carrying and setup) cost is $400. What is the inventory carrying cost per unit per year for this item? $2.00 $3.00 $150.00 $1.00 not enough data to determine
Answer:
$2 per unit per year
Explanation:
The computation of the inventory carrying cost per unit per year is shown below:
Inventory Carrying cost per unit per year is
= Total Annual Inventory cost ÷ Economic order quantity
= $400 ÷ 200 units
= $2 per unit per year
By dividing the total annual inventory cost from the economic order quantity, the inventory carrying cost could come and the same is to be applied
Hence, the first option is correct
A production department’s beginning inventory cost includes $478,000 of conversion costs. This department incurs an additional $1,047,500 in conversion costs in the month of March. Equivalent units of production for conversion total 770,000 for March.Required:Calculate the cost per equivalent unit of conversion using the weighted-average method.
Answer: $1.98
Explanation:
Equivalent Units of Production are used when the manufacturers have not completely finished their products for the year. This helps them express it in terms of fully manufactured units.
Using the weighted average method, the cost per equivalent unit is;
= [tex]\frac{Beginning inventory cost + Cost of current production}{Equivalent units of production}[/tex]
= [tex]\frac{478,000 + 1,047,500}{770,000}[/tex]
= $1.98
Skolits Corp. has a cost of equity of 11.1 percent and an aftertax cost of debt of 4.65 percent. The company's balance sheet lists long-term debt of $375,000 and equity of $635,000. The company's bonds sell for 105.5 percent of par and market-to-book ratio is 3.01 times. If the company's tax rate is 35 percent, what is the WACC
Answer:
The WACC is 8.71%.
Explanation:
The weighted average cost of capital (WACC) is simply the average rate a firm is expected to pay as cost financing its assets to those who hold its securities.
The WACC can be computed as follows:
Total debt and equity = Debt + Equity = $375,000 + $635,000 = $1,010,000
WE = Weight of equity = Equity / Total debt and equity = $635,000 / $1,010,000 = 0.63, or 63%
WD = Weight of equity = Debt / Total debt and equity = $375,000 / $1,010,000 = 0.37, or 37%
CE = Cost of equity = 11.1%
ACD = After tax cost of debt = 4.65%
Therefore, we have:
WACC = (WE * CE) + (WD * ACD) = (63% * 11.1%) + (37% * 4.65%) = 6.99% + 1.72% = 8.71%
Therefore, the WACC is 8.71%.
Consider a firm Theta that spends $60 to produce goods in year 1. In year 2 it sells these goods for $100, but its customers pay their bills with a delay, therefore the payment is not received until year 3. What's the amount of net income recorded on the income statement for each year?
Answer:
Theta
Amount of net income for each year:
Year 1 = $0
Year 2 = $40 ($100 - $60)
Year 3 = $0
Explanation:
The net income to be recorded in Theta's income statement depends on the period in which revenue is recorded. In year 1, Theta would accumulated Ending Inventory of $60 being the cost of its finished goods inventory. Since it has not made any sales, there is no net income to record, which is always the difference between revenue and cost of goods or services sold. In year 2, the actual sales revenue was made and recorded in the accounts. This is the period for Theta to calculate its profit against the cost of goods sold. In year 3 when cash payment was received from customers, the accounts of Theta would record the receipt only in settlement of the customer debt. This transaction does not affect the revenue or the cost of goods sold, two important elements for determining the profit made.
Global Engineering's actual operating income for the current year is $50,000. The flexible budget operating income for actual volume achieved is $40,000, while the static budget operating income is $53,000. What is the sales volume variance for operating income
Answer:
$13,000 Unfavorable
Explanation:
Calculation for the sales volume variance for operating income of Global Engineering's
Using this formula
Sales volume variance for operating income=Static budget operating income -Fexible budget operating income
Where,
Static budget operating income =$53,000
Fexible budget operating income=$40,000
Let plug in the formula
Sales volume variance for operating income=$53,000-$40,000
Sales volume variance for operating income=$13,000 Unfavorable
Therefore the sales volume variance for operating income will be $13,000 Unfavorable
If we had a situation of Diminishing Marginal Productivity, then this would be great news for the firm. Senior management loves this kind of cost reduction outcome.
True or False
Answer:
The correct answer is the second option: False.
Explanation:
To begin with, the well known term of "Diminishing Marginal Productivity" is understood to be an economic law whose main purpose is to explain that given a certain level of an input, the production of the company will start to go down eventually after adding more and more of that variable. Therefore that this theory states that when a company adds more of a factor of production, everything else constant, when it reaches a certain level that input will start to affect the output of the good and with it the profits of the business. That is why that if the company is in a situation of diminishing marginal productivity the senior management would not be pleased.
Based on the criteria used by Bureau of labor statics,Identify each person status as employed,unemployed, not in labor force ,not in civilion labor force but still part of adult popoulation.
1. Bob is a 71-year-old professor. He teaches only one or two courses a year, but he's still pursuing an active research agenda. ___________.
2. Cho is a 42-year-old autoworker who was just laid off by her employer. She is trying to _________ any kind of job to help make ends meet. ___________.
3. Eric is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago. __________.
4. Lucia is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. ____________.
Kenji is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. __________.
Ginny is a 11-year-old student at East Valley Middle School. She babysits her younger brother and does other chores, so her parents give her an allowance of $25 per week.___________.
Answer and Explanation:
The classification is as follows
1. The bob is employed as he is an old professor
2. Cho is unemployed as she is laid off and she is trying to find any kind of job
3. Eric should not be counted in a labor force as he became so discouraged due to which he gave up for the job searching
4. Lucia is unemployed as she lost her job
5. Eric should not be counted in a labor force as he spent most of his time in gardening and reading
6. Ginny should not be counted in an adult population as she is only 11 years old
