Suppose that in 2011, per-person GDP in Singapore was $53,591, and in Egypt, it was $5,547, as measured in 2005 purchasing power parity U.S. dollars.
It is accurate to say that the income level in Singapore is higher / lower than in Egypt. Why is this comparison accurate?
a. There are significant differences in incomes between high- and low-income countries.
b. Egypt is characterized by a higher share of industrial production in total output than Singapore is.
c. Singapore is characterized by a larger share of household production in total output than Egypt is.
d. Egypt is characterized by a larger share of household production in total output than Singapore is.

Answers

Answer 1

Answer:

a. There are significant differences in incomes between high- and low-income countries.

Explanation:

Data provided in the question

Per person GDP in Singapore = $53,591

Per person GDP in Egypt = $5,547

Based on the above information

As we can see that the level of income in Singapore is higher than Egypt also when there is an important difference in the high income and low income countries the same is shown accurately

hence, the correct option is a.


Related Questions

Conventional wisdom says one should measure a manager's investment performance over an entire market cycle. What arguments support this contention? What arguments contradict it?

Answers

Answer:

In every form of analysis, it is always safer to take a macro or holistic view of the situation. This is true for the investment performance of a manager. One investment decision that went right does not suffice to classify an investment portfolio manager as proficient, neither is one that went south enough to tag him deficient.

The forecasting ability of managers, on the balance of probability, will vary for different cases, with a helicopter view of providing a more accurate measure of their performance.

However, if it was possible to analyse the market for volatility and adjust our forecasts it becomes unnecessary to look at and analyse all the information from a 12-month cycle before coming to terms about the performance of the manager.

Cheers!

During the year, Next Tec Corp. had the following cash flows: receipt from customers, $15,000; receipt from the bank for long-term borrowing, $6,500; payment to suppliers, $5,900; payment of dividends; $1,700, payment to workers, $2,900; and payment for machinery, $12,500. What amount would be reported for net financing cash flows in the statement of cash flows?

Answers

Answer:

$4,800

Explanation:

Next Tech corporation had the following cash flows

Receipt from customers= $15,000

Receipt from bank for long term borrowing= $6,500

Payment to suppliers= $5,900

Payment of dividend= $1,700

Payment to workers= $2,900

Payment for machinery= $12,500

Therefore, the amount that should be reported for the net financing cash flows in the statement of cash flow can be calculated as follows

= Receipt for bank long term borrowing-payment of dividend

= $6,500-$1,700

= $4,800

Hence the amount reported for net financing cash flows in the statement of cash flow is $4,800

A retail operation has an average gross margin of 35%. If the average monthly sales for the store is $200,000.00, what is the cost of goods sold?

Answers

Answer:

COGS= $130,000

Explanation:

Giving the following information:

A retail operation has an average gross margin of 35%.

Sales= $200,000.00

To calculate the cost of goods sold, we need to use the following formula:

Gross margin= sales - COGS

COGS= sales - gross margin

COGS= 200,000 - (200,000*0.35)

COGS= $130,000

One of the problems with licensing as a method of achieving international business is that it is a much more difficult procedure to implement than the other methods.
a. True
b. False

Answers

Answer: False

Explanation:

Licensing involves a company giving another company in another country/market permission to produce its products or use its likeness. The company that gets the license will then pay the parent company specified amounts for being able to do so.

This method of international business is cheap as the company licensing will see its brand spread to other countries without actually having to worry about set-up costs in the other country which can be very high. It is therefore one of the easiest methods of expanding to international markets there is.

Many managers describe performance appraisal as the responsibility that they like least. Why is this so? What could be done to improve the situation?

Answers

Answer:

Performance appraisal is by its very nature subjective.  To improve the situation, as much as it is possible, objectivity should be allowed to rule all appraisal processes.

Explanation:

Performance appraisal is the formal evaluation of employees by their managers for the purpose of aligning employees' performance to the achievement of corporate objectives.  To achieve goal congruence between employees who have different objectives for their work and the organization which wants to achieve profit and other corporate goals, performance appraisals are carried out periodically.  However, the process has been marred by manager's bias, incompetence, and other problems.

When the Performance appraisal is by its very nature subjective. then to boost true, the maximum amount because it is feasible, objectivity should  have been allowed to rule all appraisal processes.

How to describe Managers Performance?

The Performance of appraisal is the formal evaluation of employees by their managers for the aim of aligning employees performance to the achievement of corporate objectives. to realize goal congruence between employees who have different objectives for their work and also the organization which wants to realize profit and also other corporate goals, performance appraisals are allotted periodically. However, the method has been marred by the manager's bias, incompetence, and other problems.

Find out more information about Managers Performance here:

https://brainly.com/question/3431888

The Busby Corporation had a share price at the start of the year of $26.20, paid a dividend of $0.56 at the end of the year, and had a share price of $29.00 at the end of the year. Which of the following is closest to the rate of return of investments in companies with equal risk to The Busby Corporation for this period?

A) 5%
B) 7%
C) 9%
D) 13%

Answers

Answer:

D) 13%

Explanation:

Calculation for the percentage that is closest to the rate of return of investments

First step is to find the balance amount of the share price using this formula

Share price =(End of the year Share price + End of the year dividend)-Start of the year Share price

Let plug in the formula

Share price =($29.00+$0.56)-$26.20

Share price =$29.56-$26.20

Share price =$3.36

Second step is to find the rate of return of investments

Using this formula

Rate of return of investments= Share price/Start of the year Share price

Rate of return of investments

Let plug in the formula

Rate of return of investments=$3.36/$26.20

Rate of return of investments=0.13*100

Rate of return of investments=13%

Therefore the percentage that is closest to the rate of return of investments in companies with equal risk to The Busby Corporation for this perio will be 13%

Activity-Based Costing: Selling and Administrative Expenses Jungle Junior Company manufactures and sells outdoor play equipment. Jungle Junior uses activity-based costing to determine the cost of the sales order processing and the customer return activity. The sales order processing activity has an activity rate of $20 per sales order, and the customer return activity has an activity rate of $100 per return. Jungle Junior sold 2,500 swing sets, which consisted of 750 orders and 80 returns.

Required:
a. Determine the total sales order processing and customer return activity cost for swing sets.
b. Determine the per-unit sales order processing and customer return activity cost for swing sets. Round your answer to the nearest cent.

Answers

Answer: 1}ToTAL Activity cost =$23,000

2a)  Sales order Processing Activity per unit sale=$6.00

2b)customer return activity per unit sale=$3.20

Explanation:

a. total sales order processing and customer return activity cost for swing sets

Sales order Processing Activity =Number of orders x rate per sales order

                                       =750 x 20 =  $15,000

customer return activity  = Number of returns x rate per return

                                         = 80 x 100= $8,000

ToTAL Activity cost = Sales order Processing Activity +customer return activity= $15,000 + $8000 = $23,000

b)per-unit sales order processing and customer return activity cost for swing sets

Cost of Sale order processing = $15,000

Number of swing set sold = 2,500

Therefore Sales order Processing Activity per unit sale =  Cost of Sale order processing/ Number of swing set sold = $15,000/ 2,500= $6.00

customer return activity cost  = $8,000

Number of swing set sold = 2,500

Therefore customer return activity per unit sale=  customer return activity cost / Number of swing set sold = $8,000/ 2,500= $3.20

ToTAL Activity cost  per unit sale = Sales order Processing Activity  cost per unit +customer return activity cost per unit = $6.00 +  $3.20 = $9.20

Media Bias Inc. issued bonds 10 years ago at $1,000 per bond. These bonds had a 35-year life when issued and the annual interest payment was then 13 percent. This return was in line with the required returns by bondholders at that point in time as described below: Real rate of return 5 % Inflation premium 4 Risk premium 4 Total return 13 % Assume that 10 years later, due to good publicity, the risk premium is now 3 percent and is appropriately reflected in the required return (or yield to maturity) of the bonds. The bonds have 25 years remaining until maturity.

Answers

Answer:

remaining time to maturity 25 years, annual coupon

face value $1,000

when the bonds were issued, the market interest rate was 13%, which was identical to the coupon rate, therefore, the bonds were sold at par

now, 10 years later, the market interest rate is 12% (1% less), so the current market price is:

PV of face value = $1,000 / (1 + 12%)²⁵ = $58.82

PV of coupon payments = $130 x 7.8431 (PV annuity factor, 25 periods, 12%) = $1,019.63

bond's current market price = $58.82 + $1,019.63 = $1,078.45

An all-equity firm is considering the following projects:
Project Beta IRR
W .85 8.9%
X .92 10.8
Y 1.09 12.8
Z 1.35 13.3
The T-bill rate is 4 percent, and the expected return on the market is 11 percent.
a. Which projects have a higher expected return than the firm's 11 percent cost of capital?
b. Which projects should be accepted?
c. Which projects would be incorrectly accepted or rejected if the firm's overall cost of capital were used as a hurdle rate?

Answers

Answer:

Projects Y and Z

b. Projects W and Z

c. Projects W and Y

Explanation:

CAPM equation : Expected return = Risk free rate + Beta x (Expected market return - Risk free rate)

W = 4% + [0.85 x (11% - 4%)] = 9.95%

X = 4% + (0.92 x 7%) = 10.44%

Y = 4% + (1.09 x 7%) = 11.63%

Z = 4% + (1.35 x 7%) = 13.45%

Projects Y and Z have an expected return greater than 11%

b. Projects W and Z should be accepted because its expected return is higher than the IRR

c. Project W would be incorrectly rejected because the expected rate of return is less than the overall cost of capital (i.e. 9.95 is less than 11). But its expected rate of return is greater than the IRR

Y would be incorrectly accepted because its expected rate of return is greater  than the overall cost of capital but its expected rate of return is less than the IRR

What type of Decision Making Model has the goal of maximizing efficiency by picking the best alternative based on specific criteria

Answers

Answer:

Rational model.

Explanation:

Rational decision model uses logic and objectivity while trying to solve a problem. It is not subjective neither does it have to depend on intuition. It helps one to identify a problem and get a solution amongst different options. It maximizes efficiency through picking the best option amongst the rest based on a specific criteria. It is assumed that the person making this choice has enough information about the options.

Suppose an item sells for​ $125 in the United States and for​ 62,500 pesos in Chile. According to the law of one​ price, the nominal exchange rate​ (pesos/dollar) should be​ ________.

Answers

Answer:

$1 = 500 Pesos

1 Pesos = $0.002

Explanation:

$125 = 62,500 Pesos

$1 = 62,500 / 125

$1 = 500 Pesos

$1 = 500 Pesos

1 Pesos = $1 / 500

1 Pesos = $0.002

2. A constraint which represents a target value for a problem is called a a. fuzzy constraint. b. vague constraint. c. preference constraint d. soft constraint

Answers

Answer: soft constraint

Explanation:

The soft constraint is defined as

a constraint on a random variable (X)that permits overruling the constraint.a function from the domains in its scope(set of variables ) into a real number.

Hence, a  constraint which represents a target value for a problem is called a  soft constraint.

Thus the correct option is d. soft constraint.

EHealth 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 103.75. Suppose you purchase the bond for the closing price. What is the bond's yield to maturity?

Answers

Answer:

Yield to Maturity(YTM) = 3.47%

Explanation:

The yield to maturity is the required rate of return (discount rate) that would equate the price of the bond and cash outflow  expected from the bond.  The yield on the bond can be determined as follows using the formula below:  

YTM = C + F-P/n) ÷ 1/2 (F+P)  

YTM-Yield to maturity-  

C- coupon  

F- Face Value  

P- Current Price  

DATA  

Coupon = coupon rate × Nominal value = 1,000 × 8%× 1/2=40(note we divide by 2 because interest is paid semi-annually)

n= 4×2 = 8 (note there 2 half months in a year)

Face Value = 1000

YM-?, C-40, Face Value - 1,000, P-103.75/100×   1000 = 1037.5

YM = (40 + (1000-1037)/8) ÷ ( 1/2× (1000 + 1037.5  ) )  =0.0347

YM = 0.0347 × 100 = 3.47%  

Yield to Maturity = 3.47%

The advantages of using typedef do not include:a. Making programs more portable by allowing data types to be easily changed to meet system specifications.b. Making type names shorter.c. Making programs more readable.d. Increasing the efficiency of accessing struct member variables.

Answers

Answer:

d. Increasing the efficiency of accessing struct member variables.

Explanation:

In the programming language C and C++ there is a keyword i.e typedef that function is to provide a new name. It is to be used to develop an extra name for the other data type but it does not develop a new data type

Here the advantage of using typedef is as follows

1. It allows the data types for meeting the specifications of the system

2. The name would become shorter

3. Readable program

but it does not increase the efficiency

Hence, the last option is correct

Other things held constant, if a bond indenture contains a call provision, the yield to maturity that would exist without such a call provision will generally be____ the YTM with a call provision.

Answers

Answer:

Other things held constant, if a bond indenture contains a call provision, the yield to maturity that would exist without such a call provision will generally be lower than the YTM with a call provision.

Explanation:

That is the correct answer to the question asked about bond indenture.

Lone Wolf Technologies Inc. assembles circuit boards by using a manually operated machine to insert electronic components. The original cost of the machine is $60,400, the accumulated depreciation is $24,200, its remaining useful life is five years, and its residual value is zero. A proposal was made to replace the present manufacturing procedure with a fully automatic machine that will cost $113,800. The automatic machine has an estimated useful life of five years and no significant residual value. For use in evaluating the proposal, the accountant accumulated the following annual data on current and proposed operations: Current Operations Proposed OperationsSales $191,500 $191,500 Direct materials $65,200 $65,200 Direct labor 45,300 15,100 Power and maintenance 4,200 7,200 Taxes, insurance, etc. 1,500 5,000 Selling and administrative expenses 45,300 45,300 Total expenses $161,500 $137,800Required:Prepare a differential analysis report for the proposal to replace the machine. Include in the analysis both the net differential change in costs anticipated over the five years and the net annual differential change in costs anticipated.

Answers

Answer:

Differential analysis for 1 year

                                        Keep old              Change              Differential

                                        machine               machine             amount

sales revenue                  191,000                191,000               0

depreciation expense     -4,840                  -22,760               -17,920

per year

direct materials                -65,200               -65,200               0

direct labor                       -45,300               -15,100                 30,200

power and                        -4,200                 -7,200                  -3,000

maintenance

taxes and                          -1,500                 -5,000                  -3,500

insurance

S&A expenses                  -45,300              -45,300                0

total                                   24,660               30,440                  5,780

If the new machine is purchased, profits will increase by $5,780 every year.

Differential analysis for 5 years

                                        Keep old              Change              Differential

                                        machine               machine             amount

sales revenue                  955,000              955,000             0

depreciation expense     -24,200               -113,800              -89,600

per year

direct materials                -326,000             -326,000            0

direct labor                       -226,500            -75,500               151,000

power and                        -21,000               -36,000               -15,000

maintenance

taxes and                          -7,500                -25,000               -17,500

insurance

S&A expenses                  -226,500           -226,500              0

total                                   123,300             152,200                28,900

If the new machine is purchased, profits will increase by $28,900 for the 5 year period.

The following information pertains to J Company's outstanding stock for 2021:

Common stock, $1 par
Shares outstanding, 1/1/2021 10,000
2 for 1 stock split, 4/1/2021 10,000
Shares issued, 7/1/2021 5,000

Preferred stock, $100 par, 7% cumulative
Shares outstanding, 1/1/2021 4,000

What is the number of shares J should use to calculate 2018 basic earnings per share?

a. 20,000.
b. 22,500.
c. 25,000 .
d. 27,000.

Answers

Answer: b. 22,500

Explanation:

J should use the total number of outstanding common stock at end of year to calculate 2018 basic earnings.

As a result of the Stock-split, the shares are split into 2 for 1.

There were 10,000 shares split so;

= 10,000 * 2

= 20,000

On the 1st of July, 5,000 shares were issued. This means that up till December 2021, the stock was outstanding for 6 months.

This will reflected by;

= 5,000 * 6/12

= 2,500 shares

Total shares = 20,000 + 2,500

= 22,500 shares

Using the information below for Laurels Company; determine the cost of goods manufactured during the current year: Direct materials used $6,100 Direct Labor 8,100 Total Factory overhead 6,200 Beginning work in process 4,100 Ending work in process 6,200a. $19,700b. $16,900c. $18,300d. $12,800e. $14,800

Answers

Answer:

c. $18,300

Explanation:

The computation of cost of goods manufactured during the current year is shown below:-

Cost of goods manufactured during the current year = Direct material + Direct labor + Total factory overhead + Beginning Work in progress - Ending work in progress

= $6,100 + $8,100 + $6,200 + $4,100 - $6,200

= $24,500 - $6,200

= $18,300

Hence, the correct option is c. $18,300

In early January, Burger Mania acquired 100% of the common stock of the Crispy Taco restaurant chain. The purchase price allocation included the following items: $5 million, patent; $3 million, trademark considered to have an indefinite useful life; and $5 million, goodwill. Burger Mania's policy is to amortize intangible assets with finite useful lives using the straight-line method, no residual value, and a five-year service life. What is the total amount of amortization expense that would appear in Burger Mania's income statement for the first year ended December 31 related to these items

Answers

Answer:

$1,000,000 per year

Explanation:

We can infer from the above information that the intangible assets with indefinite period are checked annually, for impairment hence patent is a limited life intangible.

Therefore;

The amount of amortization of patent at the end of first year

= Patent value ÷ Useful life

= $5 million ÷ 5 years

= $1,000,000 per year

Therefore, the company should amortize $1,000,000 per year.

Your auto dealer gives you the choice to pay $15,500 cash now, or make three payments: $8,200 now, $4,200 in one year and $3,200 in two years. If your cost of money (discount rate) is 7.25%, what is the PV of the installment plan?

Answers

Answer:

The answer is $14,898.07

Explanation:

Assume that the cost of money (discount rate) of 7.25% is on annual basis.

Present value (PV) of the installment plan is:

PV = Down payment + PV(first installment) + PV(second installment)

= $8,200 + $4,200 / (1 + 7.25%) + $3,200 / (1 + 7.25%)^2 = $14,898.07

Obviously, the three payments option is more lucrative than the 100% down payment one.

Based on the following production and sales estimates for May, determine the number of units expected to be manufactured in May. Estimated inventory (units), May 1 30,000 Desired inventory (units), May 31 25,000 Expected sales volume (units): South region 20,000 West region 40,000 North region 20,000 Unit sales price $10 a.85,000 b.105,000 c.75,000 d.80,000

Answers

Answer:

Production= 75,000 units

Explanation:

Giving the following information:

Estimated inventory (units), May 1 30,000

Desired inventory (units), May 31 25,000

Expected sales volume (units):

South region 20,000

West region 40,000

North region 20,000

To calculate the production for May, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= (20,000 + 40,000 + 20,000) + 25,000 - 30,000

Production= 75,000 units

The following data relate to the Denver Company's operations for the year ended December 31, 20XX:

Direct Materials Purchases $100,000
Indirect meterial usage 10,000
Indirect labor 10,000
Direct Labor 300,000
Sales salaries 100,000
Administrative salaries 50,000
Factory water and electricity 20,000
Advertising expenses 60,000
Depreciation-sales and general office 40,000
Depreciation-factory 50,000

Beginning Inventories:
Direct Materials $20,000
Work In Progress 60,000
Finished goods 80,000

Ending Inventories:
Direct Materials $30,000
Work in Progress 50,000
Finished goods 60,000

Required:
Prepare a statement of cost of goods manufactured.

Answers

Answer:

Cost of goods manufactured= $490,000

Explanation:

Giving the following information:

Overhead:

Indirect material usage 10,000

Indirect labor 10,000

Factory water and electricity 20,000

Depreciation-factory 50,000

Total overhead= 90,000

To calculate the cost of goods manufactured, we need to use the following formula:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

Direct materials= 100,000 + 20,000 - 30,000= 90,000

cost of goods manufactured= 60,000 + 90,000 + 300,000 + 90,000 - 50,000

cost of goods manufactured= $490,000

Your investment has a 20% chance of earning a 30% rate of return, a 50% chance of earning a 10% rate of return, and a 30% chance of losing 6%. What is your expected return on this investment

Answers

Answer:

9.2%

Explanation:

expected return of the investment = potential return x chance of each return happening

Expected return of the investment:

20% chance of occurring x 30% potential return = 0.2 x 30% = 6%50% chance of occurring x 10% potential return = 0.5 x 10% = 5%30% chance of occurring x -6% potential return = 0.3 x -6% = -1.8%total expected return = 9.2%

Exercise 11-4 Stock issuance for noncash assets LO P1 Sudoku Company issues 7,000 shares of $7 par value common stock in exchange for land and a building. The land is valued at $45,000 and the building at $85,000. Prepare the journal entry to record issuance of the stock in exchange for the land and building.

Answers

Answer and Explanation:

The Journal entry is shown below:-

Land $45,000

Building Dr, 85,000

            To Common Stock $49,000  (7,000 shares × $7)

             To Paid-in capital in excess of par-Common stock $81,000

(Being issuance of the stock in exchange for the land and building is recorded)

Here we debited the land and building as it increases the assets and we credited the common stock and paid in capital in excess of par-common stock as it also increases the liabilities.

Busch Company has these obligations at December 31. For each obligation, indicate whether it should be classified as a current liability, noncurrent liability, or both.

(a) A note payable for $100,000 due in 2 years.
Current liabilityNoncurrent liabilityBoth

(b) A 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments.
BothCurrent liabilityNoncurrent liability

(c) Interest payable of $15,000 on the mortgage.
Noncurrent liabilityBothCurrent liability

(d) Accounts payable of $60,000.
Current liabilityNoncurrent liabilityBoth

Answers

Answer:

(a) A note payable for $100,000 due in 2 years.  - Noncurrent liability

Non-current liabilities are obligations of payments by the company that extend for over a year. This note payable is due in 2 years and so is a Non-current liability.

(b) A 10-year mortgage payable of $200,000 payable in ten $20,000 annual payments.  - Noncurrent liability

This obligation also extends for over a year thereby satisfying the definition of a Non-current liability

(c) Interest payable of $15,000 on the mortgage.  - Current liability

Current Liabilities being the opposite of Non-current liabilities are obligations that are due within a year. The $15,000 interest payment is the amount due for the year and so is a Current Liability.

(d) Accounts payable of $60,000.  - Current liability

Accounts Payable are payable within the year and as such are current liabilities.

Three phenomena that tend to bias the expected completion time of projects are inflated time estimates, activity time variability with path interdependencies, and resource dependence.


a. True

b. False

Answers

Answer: True

Explanation:

The expected completion time of a project is determined when the duration of every activity that takes place on the critical path is established.

Three phenomena that tend to bias the expected completion time of projects are inflated time estimates, activity time variability with path interdependencies, and resource dependence.

The manager of a crew that installs wood floors has tracked the crew's output over the past several weeks. Each worker works 40 hours per week and earns $17 per hour. The wholesale cost of lumber to the company is $5 per square foot and the company charges its customers $15 per square foot of flooring installed.
Week Crew Size Lumber Used (sq. ft.) Flooring Installed (sq. ft.)
1 4 480 420
2 3 351 325
3 2 250 238

a. Calculate labor productivity for each of the weeks.
b. Suppose that in addition to labor cost and wholesale lumber cost, the firm's overhead is 120% of its labor cost. Calculate multifactor productivity for each of the weeks shown.

Answers

Answer:

Week      Crew Size     Lumber Used     Flooring Installed

                                     (sq. ft.)                 (sq. ft.)

1                    4                 480                   420

2                   3                 351                    325

3                   2                 250                   238

a)

labor productivity = total output / number of employees

week 1 ⇒ 420 / 4 = 105 sq. ft. of floors installed per worker

week 2 ⇒ 325 / 3 = 108.33 sq. ft. of floors installed per worker

week 3 ⇒ 238 / 2 = 119 sq. ft. of floors installed per worker

b)

multi-factor productivity = total output in $ / (labor + materials + overhead)

week 1 ⇒ (420 x $15) / [(4 x 40 x $17) + (480 x $5) + (4 x 40 x $17 x 1.2) = $6,300 / ($2,720 + $2,400 + $3,264) = 0.75

week 2 ⇒ (325 x $15) / [(3 x 40 x $17) + (351 x $5) + (3 x 40 x $17 x 1.2) = $4,875 / ($2,040 + $1,755 + $2,448) = 0.78

week 3 ⇒ (238 x $15) / [(2 x 40 x $17) + (250 x $5) + (2 x 40 x $17 x 1.2) = $3,570 / ($1,360 + $1,250 + $1,632) = 0.84

Mauro Products distributes a single product, a woven basket whose selling price is $20 per unit and whose variable expense is $17 per unit. The company’s monthly fixed expense is $8,100. Required: If the company's fixed expenses increase by $600, what would become the new break-even point in dollar sales?

Answers

Answer:

the new break-even point in dollar sales is  $29,000.

Explanation:

Break even point is the level of activity where a firm makes neither a profit nor a loss.

Break even point (dollar sales) = Fixed Cost ÷ Contribution Margin Ratio

Where, Contribution Margin Ratio = Contribution ÷ Sales

                                                        = ($20 - $17) ÷ $20

                                                        = 0.30

New Break even point (dollar sales) = ($8,100 + $600) ÷ 0.30

                                                            = $29,000

Denise contracts with Long Life Insurance Co., agreeing to pay premiums in return for which the company agrees to pay $500,000 to Denise's husband Barn when Denise dies. Barn is a(n):

Answers

Answer:

Donee Beneficiary

Explanation:

In the scenario being described, it can be said that Barn is a Donee Beneficiary. This is a third-party beneficiary that occurs when the second party in the contract does not owe anything to the third party but wants to provide them with the benefit of the performance of the first party. Which since in this scenario, Denise wants to provide Barn with all the benefits of the contract even though she does not owe him anything, then it technically makes Barn a Donee Beneficiary to the Long Life Insurance Contract.

Kendra, Cogley, and Mei share income and loss in a 3:2:1 ratio. The partners have decided to liquidate their partnership. On the day of liquidation their balance sheet appears as follows.
KENDRA, COGLEY, AND MEI
Balance Sheet
May 31
Assets Liabilities and Equity
Cash $ 103,900 Accounts payable $ 258,000
Inventory 537,600 Kendra, Capital 76,700
Cogley, Capital 172,575
Mei, Capital 134,225
Total assets $641,500 Total liabilities and equity $641,500
Required:
For each of the following scenarios, complete the schedule allocating the gain or loss on the sale of inventory. Prepare journal entries to record the below transactions. (Do not round intermediate calculations. Amounts to be deducted or Losses should be entered with a minus sign. Round your final answers to the nearest whole dollar.)
(1) Inventory is sold for $608,400.
(2) Inventory is sold for $469,200.
(3) Inventory is sold for $358,800 and any partners with capital deficits pay in the amount of their deficits.
(4) Inventory is sold for $298,800 and the partners have no assets other than those invested in the partnership.
Complete this question by entering your answers in the tabs below.
Required:
Inventory
Complete the schedule allocating the gain or loss on the sale of inventory is $608,400.
1. Record the sale of inventory.
2. Allocate the gain(loss) on the sale of inventory to the partners.
3. Record the payment of the liabilities.
4. Record the disbursement of the remaining cash to the partners.

Answers

Answer

1)a

Dr Cash 608,400

Cr Inventory 537,600

Cr Gain on Sale of Inventory 70,800

b.

Dr Gain on Sale of Inventory 70,800

Cr Kendra' Capital 35,400

Cr Cogley's Capital 23,600

Cr Mei' Capital 11,800

c.

Dr Accounts Payable 258,000

Cr Cash 258,000

d.

Dr Kendra' Capital 112,100

Dr Cogley's Capital 196,175

Dr Mei, Capital 146,025

Cr Cash 454,300

2a.

Dr Cash 469,200

Dr Loss on Sale of Inventory 68,400

Cr Inventory 537,600

b.

Dr Kendra' Capital 34,200

Dr Cogley's Capital 22,800

Dr Mei' Capital 11,400

Cr Loss on sale of Inventory 68,400

c.

Dr Accounts Payable 258,000

Cr Cash 258,000

d.

Dr Kendra' Capital 42,500

Dr Cogley's Capital 149,775

Dr Mei' Capital 122,825

Cr Cash 315,100

3a.

Dr Cash 358,800

Dr Loss on Sale of Inventory 178,800

Cr Inventory 537,600

b.

Dr Kendra' Capital 89,400

Dr Cogley's Capital 59,600

Dr Mei' Capital 29,800

Cr Loss on sale of Inventory 178,800

c.

Dr Cash 12,700

Cr Kendra' Capital 12,700

d.

Dr Accounts Payable 258,000

Cr Cash 258,000

e.

Dr Cogley's Capital 17,100

Dr Mei' Capital 104,425

Cr Cash 121,525

4a.

Dr Cash 298,800

Dr Loss on Sale of Inventory 238,800

Cr Inventory 537,600

b.

Dr Kendra' Capital 119,400

Dr Cogley's Capital 79,600

Dr Mei' Capital 39,800

Cr Loss on sale of Inventory 238,800

c.

Dr Cogley's Capital 28,466

Dr Mei' Capital 14,234

Cr Kendra' Capital 42,700

d.

Dr Accounts Payable 258,000

Cr Cash 258,000

e.

Dr Cogley's Capital 64,509

Dr Mei' Capital 80,191

Cr Cash 144,700

Explanation:

Preparation of the Prepare journal entries to record the sales of inventory

1)a

Dr Cash 608,400

Cr Inventory 537,600

Cr Gain on Sale of Inventory 70,800

(608,000-536,600)

b

Dr Gain on Sale of Inventory 70,800

(608,000-536,600)

Cr Kendra' Capital 35,400

(3/6×70,800)

Cr Cogley's Capital 23,600

(2/6×70,800)

Cr Mei' Capital 11,800

(1/6×70,800)

c.

Dr Accounts Payable 258,000

Cr Cash 258,000

d.

Dr Kendra' Capital 112,100

(76,700+35,400)

Dr Cogley's Capital 196,175

(172,575+23,600)

Dr Mei, Capital 146,025

(134,225+11,800)

Cr Cash 454,300

(112,100+196,175+146,025)

2)Preparation of the Journal entries to Allocate the gain(loss) on the sale of inventory to the partners.

a.

Dr Cash 469,200

Dr Loss on Sale of Inventory 68,400

(469,200-537,600)

Cr Inventory 537,600

b.

Dr Kendra' Capital 34,200

(3/6×68,400)

Dr Cogley's Capital 22,800

(2/6×68,400)

Dr Mei' Capital 11,400

(1/6×68,400)

Cr Loss on sale of Inventory 68,400

c.

Dr Accounts Payable 258,000

Cr Cash 258,000

d.

Dr Kendra' Capital 42,500

(76,700-34,200)

Dr Cogley's Capital 149,775

(172,575-22,800)

Dr Mei' Capital 122,825

(134,225-11,400)

Cr Cash 315100

(42,400+149,775+122,825)

3)Preparation of the Journal entries to Record the payment of the liabilities

a.

Dr Cash 358,800

Dr Loss on Sale of Inventory 178,800

(358,800-537,500)

Cr Inventory 537,600

b.

Dr Kendra' Capital 89,400

(3/6×178,800)

Dr Cogley's Capital 59,600

(2/6×178,800)

Dr Mei' Capital 29,800

(1/6×178,800)

Cr Loss on sale of Inventory 178,800

(89,400+59,600+29,800)

c.

Dr Cash 12,700

Cr Kendra' Capital 12,700

(76,700 - 89,400)

d.

Dr Accounts Payable 258,000

Cr Cash 258,000

e.

Dr Cogley's Capital 17,100

(76,700-59,600)

Dr Mei' Capital 104,425

(134,225-29,800)

Cr Cash 121,525

(17,100+104,425)

4) Preparation of the Journal entries to Record the disbursement of the remaining cash to the partners

a.

Dr Cash 298,800

Dr Loss on Sale of Inventory 238,800

(298,800-537,600)

Cr Inventory 537,600

b.

Dr Kendra' Capital 119,400

(3/6×238,800)

Dr Cogley's Capital 79,600

(2/6×238,800)

Dr Mei' Capital 39,800

(1/6×238,800)

Cr Loss on sale of Inventory 238,800

(119,400+79,600+39,800)

c.

Dr Cogley's Capital 28,466

(2/3×42,700)

Dr Mei' Capital 14,234

(1/3×42,700)

Cr Kendra' Capital 42,700

(76,700 - 119,400)

d.

Dr Accounts Payable 258,000

Cr Cash 258,000

e.

Dr Cogley's Capital 64,509

(172,575 - 79,600 - 28,466)

Dr Mei' Capital 80,191

(134,225 - 39,800 - 14,234)

Cr Cash 144,700

(80,191+64,509)

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