The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2200 units, the actual direct labor cost was $65600 for 4100 direct labor hours worked, the total direct labor variance is

Answers

Answer 1

Answer:

400 favorable

Explanation:

The computation of total direct labor variance is presented below:-

Total direct labor variance = (Standard rate - Standard hours) × (Actual rate - Actual hours)

= ($15 × (2 × 2,200)) - $65,600

= ($15 × 4,400) - $65,600

= $66,000 - $65,600

= 400 favorable

Therefore for determining the total direct labor variance we simply applied the above formula.


Related Questions

You short-sell 200 shares of Rock Creek Fly Fishing Co., now selling for $50 per share. If you want to limit your loss to $2,500, you should place a stop-buy order at ____. A. $37.50 B. $62.50 C. $56.25 D. $59.75

Answers

Answer:

The answer is B. $62.5

Explanation:

A stop order is an order to either buy or sell a stock immediately the stock price reaches a certain price. This particular price is called stop price.

A buy stop order is an order to buy a stock immediately the its price reaches a certain stop price. When stop price is above the current market price, a buy stop order is made.

Let's now go back to the question;

Stop buy order will be placed at:

($2,500 / 200 shares) + $50

= $12.5 + $50

= $62.5

Suppose that hypothetically there are only two countries in the world: Japan and South Korea Now suppose that at the end of year 2, Japan has positive net exports of $20 billion against South Korea. In addition, Japan has earned $1 billion in interest from its South Korean assets over the course of year 2. Question: What are the respective balances for the current account, and the financial and capital account for Japan at the end of year 2

Answers

Answer:

i) $21 billion

ii) $0

iii) $0

Explanation:

GIVEN DATA : ( two countries )

At the end of year 2

net exports = $20 billion for Japan

Interest earned from assets = $1 billion  for Japan

i) The balances for the current account for Japan

export value + interest earned from assets

= $20 billion + $1 billion = $21 billion

ii) Financial account for Japan

Financial account for Japan will be zero because there is no increase or decrease in number of  its assets within the given period

iii) capital account for Japan

Capital account of Japan will will have a zero balance. this is because Capital account is used to record  foreign investments, local  investment and the reserve account as well. and there was no investment captured within the given time that was made by Japan

A manufacturing company is thinking about building a new factory. The new factory, if built, will give a return of $200 million in 4 years, and it would cost $125 million today to build. The company will decide to build the factory if the interest rate is

Answers

Answer:

The company will decide to build the factory if the interest rate is 12.47 %.

Explanation:

The required interest rate r, can be determined as follows ;

PV = - $125 million

n = 4

Pmt = $0

P/yr = 1

FV = $200 million

r = ?

Using a Financial Calculator, the required interest rate r, is 12.4683 or 12.47 % (2 decimal places)

IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,000. IP Company has a beginning loan balance of $12,000.
The ending loan balance is:________.

Answers

Answer: $7,000

Explanation:

From the question, we are informed that IP Company has a preliminary cash balance of $25,000 and an agreement with the bank that it will keep a minimum balance of $20,000 and that IP Company has a beginning loan balance of $12,000.

The ending loan balance will be:

= $20,000 + $12,000 - $25,000

= $32,000 - $25,000

= $7,000

Pauley Company needs to determine a markup for a new product. Pauley expects to sell 15,000 units and wants a target profit of $22 per unit. Additional information is as follows:

Variable product cost per unit $19
Variable administrative cost per unit 11
Total fixed overhead 13,500
Total fixed administrative 21,000

Using the variable cost method, what markup percentage to variable cost should be used?

Answers

Answer:

81%

Explanation:

Calculation for the markup percentage to variable cost that should be used

Using this formula

Markup percentage=[(Target profit + Fixed overhead costs + Fixed administrative costs) / Total variable costs

Let plug in the formula

Markup percentage=[($22*15,000 units)+$13,500+$21,000]/$30×15,000)

Markup percentage=($330,000+$13,500+$21,000)/$450,000

Markup percentage=$364,500/$450,000

Markup percentage=0.81*100

Markup percentage=81%

Calculation for Total variable costs

Variable product cost per unit $19

Variable administrative cost per unit $11

Total variable costs =$30

Therefore the markup percentage to variable cost that should be used will be 81%

On January 1, 2017, Hi and Lois Company purchased 12% bonds having a maturity value of $300,000, for $322,744.44. The bonds provide the bondholders with a 10% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Hi and Lois Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.a. Prepare the journal entry at the date of the bond purchase.
b. Prepare a bond amortization schedule.
c. Prepare the journal entry to record the interest revenue and the amortization at December 31, 2017
d. Prepare the journal entry to record the interest revenue and the amortization at December 31, 2018

Answers

Answer:

a. January 1, 2017, bonds are purchased at a premium

Dr Investment in bonds 300,000

Dr Premium on bonds receivable 22,744.44    

    Cr Cash 322,744.44    

b.

Date      Cash          Interest    Amortization       Bond          Carrying

             received    revenue   of premium         premium    value

1/1/18     $36,000    $32,274.44   $3,725.56   $19,018.88    $280,981.12

1/1/19     $36,000    $31,904.89   $4,095.11     $14,923.77    $285,076.23

1/1/20    $36,000    $31,492.38   $4,507.62    $10,416.15    $289,583.85

1/1/21     $36,000    $31,041.61     $4,958.39   $5,457.76     $294,542.24

1/1/22    $36,000    $30,542.24  $5,457.76    $0                 $300,000

amortization of bond premium = ($322,744.44 x 10%) - $36,000 = -$3,725.56

amortization of bond premium = ($319,018.88 x 10%) - $36,000 = -$4,095.11

amortization of bond premium = ($314,923.77 x 10%) - $36,000 = -$4,507.62

amortization of bond premium = ($310,416.15 x 10%) - $36,000 = -$4,958.39

amortization of bond premium = $10,416.15 - $4,958.39 = -$5,457.76

c.

December 31, 2017

Dr Interest receivable 36,000

    Cr Interest revenue 32,274.44

    Cr Premium on bonds receivable 3,725.56

d.

December 31, 2017

Dr Interest receivable 36,000

    Cr Interest revenue 31,904.89

    Cr Premium on bonds receivable 4,095.11

Harvey’s Hardware is thinking about starting a line of lawnmowers to serve its customer base in the summer. The lawnmowers would be priced at $100 and Harvey the manager believes that they would sell 3 units. They have the following estimated costs.
Units Produced Labor Cost Total cost
0 0 100
1 50 150
2 100 200
3 200 300
4 350 450
What is the marginal cost of producing the third unit?​
a. ​$400
b. ​$300
c. ​$200
d. $100

Answers

Answer:

Harvey's Hardware

Marginal cost of producing the third lawnmowers:

d. $100

Explanation:

Harvey's marginal cost for producing the third unit of lawnmowers is the additional cost that resulted when the total cost increased from $200 to  $300.  However, it can be deciphered from the case that the marginal cost for Harvey, which it is supposed to be  a variable cost, is traceable to the direct labor costs.  This implies that the fixed cost element for Harvey in the production of the lawnmowers has been relatively fixed at $100.  It does not vary with the volume of production, while the direct labor costs vary with the volume of lawnmowers produced by Harvey.

Each year, public schools are rewarded with bigger budgets for achieving a rating of "excellent" or "recommended" and are punished for rating "needs improvement." These ratings are based on meeting thresholds on a broad set of measures such as attendance rates, graduation rates, standardized test scores, SAT scores, and so on. True or False: This funding structure incentivizes schools to seek out and serve lower-performing students. True False

Answers

Answer:

Each year, public schools are rewarded with bigger budgets for achieving a rating of "excellent" or "recommended" and are punished for rating "needs improvement." These ratings are based on meeting thresholds on a broad set of measures such as attendance rates, graduation rates, standardized test scores, SAT scores, and so on. True or False

This funding structure incentivizes schools to seek out and serve lower-performing students. True False

Explanation:

The funding structure is meant to encourage public schools for improved performance in all the performance measures.  These performance measures are the means to judge whether proper application is being achieved with the funds provided by the government to such schools.  They also encourage healthy competition among public schools when followed judiciously.  Since they have some internal and external benchmarks, the performance measures are like a balanced scorecard for performance evaluation.

Brian Hickey uses his credit card in August to purchase the following college supplies: books for $425, your long bus pass for $175, food service meal ticket for $450, and season tickets to the basketball games for $125,. On September 1, he uses 650 of his financial aid check to reduce the balance. The issuing bank charges 1.2% interest per month and requires full payment within 36 months. Brian had a previous balance is zero and he makes no other purchases with his card. What is the minimum payment due September 1, and what is the balance due on October 1?

Answers

Answer:

Brian Hickey

a. Minimum due on September 1 is:

$510.90

b. Balance due on October 1 is:

$516.13

Explanation:

a) Data and Calculations:

Purchases in August:

Books =                    $425

Long bus pass =         175

Meal ticket =              450

Basketball games =   125

Total purchases = $1,175

Interest rate = 1.2% per month

Interest accrued         14.10

Total in debt       $1,160.90

September 1:

b) Debt reduction 650.00

Balance =            $510.90

Interest accrued       6.13

Ending Balance  $516.13

c) The credit card interest is calculated on the remaining debt after each transaction.  This interest is then added back to the debt to obtain the balance due.  If Brian Hickey does not carry out any other transaction with his credit card, the debt will continue to increase by 1.2% compounded monthly until the expiration of the 36-months period.

American corporations vary in numerous and varied degrees from corporations of other countries. For example, in Japan, the government limits the highest wages a corporate officer may receive based as a multiple of what the lowest wage earner in the corporation receives. At one point, the highest paid employee of a Japanese corporation could receive only sixty (60) times the wage of the lowest paid employee of the corporation. Is this a wise regulation, or does this somehow limit the competitiveness of Japanese corporations

Answers

Answer with Explanation:

The wage restrictions would limit the competition of Japanese firms as the Executive Directors will be under under-paid and they will looking for jobs else where. This demotivation due to low pays would affect the competition of Japanese firms as the employee's productivity will also be lowered. The employees rather they are of Executive Level or they belong to lower level, they must be paid according to their performance. Their might be a fixed portion and a performance based portion which would erge the employee to work hard.

Under Armour uses its website to sell its products, but Nathan Shriver, art director of Interactive, believes that what the website does, and what advertising does not do, is make the brand

Answers

Answer:

This question is incomplete, the options are missing. The options are the following:

a) Friendlier to the customer

b) Recognizable in retail stores

c) Seem special compare to off-label gear

d) Part of the consumer's daily life

e) Seem of higher quality than Nike

And the correct answer is the option D: Part of the consumer's daily life.

Explanation:

To begin with, when Nathan Shriver says that he believes that the website and advertising of the company does is to make the brand more part of the consumer's daily life refers that in the end it is that action what truly makes the company to increase its sales due to the fact that thanks to the marketing campaigns now the brand is more important in the life of the consumers and more due to the fact that those advertising make them understand that the use of Under Armour's products is essential to every day training and movement that the clients might face.

Which of the following promises is subject to the "strict performance" standard? Assume that performance of the promise is not an express condition of the promisee's duty to perform. cousrse hero

Answers

Answer:

A promise to deliver a deed

Explanation:

The term, 'strict performance' is used to describe a contract between two parties. A contract is an agreement between two parties, and it is legally binding. When discharging contracts involving services, 'substantial performance' is required. For example, if I tell a painter to paint my house blue except for the kitchen and storeroom which should be painted white, and he does accordingly but failed in painting the kitchen white, he has performed substantially even though there was a minor breach. The consequences of which would be borne by him.

'Strict performance' is required in contracts where the terms are stated in express terms and the standards are very high. A 'deed' is such a contract because it is a document specifying the legal rights of a person or the ownership of a property. It requires the signatures of the two parties. Therefore, strict performance and adherence to the contractual deed are required.

Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PB0 report from the actuary. The following information was included in the report: ending PBO, $110,000 benefits paid to retirees. $10,000, interest cost, $7,200. The discount rate applied by the actuary was 8%. What was the beginning PBO?
A) $100,000
B) $112,000.
C) $90,000.
D) $107,200.

Answers

Answer:

C) $90,000

Explanation:

Beginning PBO = Interest cost/Discount rate =

Beginning PBO = $7,200/8%

Beginning PBO = $90,000

Xie Company identified the following activities, costs, and activity drivers for 2017. The company manufactures two types of go-karts: Deluxe and Basic.Activity Expected Costs Expected Activity Handling materials $625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 orders Paying suppliers 175,000 500 invoices Insuring the factory 300,000 40,000 square feet Designing packaging 75,000 2 modelsAssume that the following information is available for the company’s two products for the first quarter of 2017.Production volume 10,000 units 30,000 unitsParts required 20,000 parts 30,000 partsBatches made 250 batches 100 batchesPurchase orders 50 orders 20 ordersInvoices 50 invoices 10 invoicesSpace occupied 10,000 sq. ft. 7,000 sq. ftModels 1 model 1 modelRequired:Compute activity rates for each activity and assign overhead costs to each product model using activity-based costing (ABC). What is the overhead cost per unit of each model?

Answers

Answer:

I can't understand this type of questions

Use the following selected financial information for Wilcox Corporation to answer questions 11-20. Wilcox Corporation Income Statement For the Year Ended December 31, 20XX Net sales $2,870 Cost of goods sold 1,985 Gross profit $ 885 Operating expenses 620 Operating profit $ 265 Interest expense 40 Earnings before taxes $ 225 Income tax expense 80 Net profit $ 145 Wilcox Corporation Balance Sheet December 31, 20XX Assets Liabilities and stockholders' equity Current assets Current liabilities Cash $ 25 Accounts payable $ 85 Short-term investments 15 Accrued liabilities 45 Accounts receivable 70 Total current liabilities 130 Inventory 150 Long-term debt 240 Total current assets 260 Total liabilities 370 Long-term assets Stockholders' equity Net PPE 390 Common stock and PIC 80 Goodwill 210 Retained earnings 410 Total stockholders' equity 490 Total assets $860 Total liabilities and equity $860 WilcoxCorporation Statement of Cash Flow Information For the Year Ended December 31, 20XX Cash from operating activities $150 Investing activities: Capital expenditures $ 60 Acquisitions $ 10 Financing activities: Proceeds from long-term borrowing $ 50 Payments on long-term borrowing $ 25 Payments of cash dividends $ 20 Cash paid for interest $ 10 Cash paid for income taxes $ 75 Wilcox’s average collection period is:

Answers

Answer:

Wilcox’s average collection period is 9 days.

Explanation:

The average collection period can be described as how long it takes a company to get paid by the amount of money its clients are owing it in terms of accounts receivable (AR).

Average collection period can be calculated using the following formula:

ACP = (Accounts receivable / Net sales) * 365 days .............. (1)

Where, for this question;

ACP = Average collection period = ?

Accounts receivable = $70

Net sales = $2,870

Substituting the values into equation (1), we have:

ACP = ($70 / $2,870) * 365 days

ACP = 0.024390243902439 * 365 days

ACP = 8.90 days, or approximately 9 days

Therefore, Wilcox’s average collection period is 9 days.

What must be the price of a $5,000 bond with a 6.6​% coupon​ rate, semiannual​ coupons, and two years to maturity if it has a yield to maturity of 10​% ​APR?

Answers

Answer:

Bond Price = $4698.59

Explanation:

The price of  a bond is equal to the present value of the interest payments, which are in form of an annuity, made by the bond plus the present value of the face value of the bond.

The formula to calculate the price of the bond is attached.

The semi annual coupon rate = 6.6% / 2 = 3.3%

Total period = 2 * 2 = 4

Semi annual YTM = 10% / 2 = 5%

Semi annual coupon payment = 5000 * 0.033 = 165

Bond Price = 165 * [( 1 - (1 + 0.05)^-4) / 0.05]  +  5000 / (1+0.05)^4

Bond Price = $4698.59

Pattison Corporation is a service company that measures its output by the number of customers served. The company has provided the following fixed and variable cost estimates that it uses for budgeting purposes. Fixed Element per Month Variable Element per Customer Served Revenue $5,500 Employee salaries and wages $46,300 $1,000 Travel expenses $ 500 Other expenses $32,500 When the company prepared its planning budget at the beginning of May, it assumed that 20 customers would have been served. However, 17 customers were actually served during May. The activity variance for "Travel expenses" for May would have been closest to:

Answers

Answer:

Pattison Corporation

Activity Variance for "Travel expenses" for May would have been closest to:

$1,500 Favorable

Explanation:

Data and Calculations:

                           Fixed Element         Variable Element per  

                              per Month              Customer Served

Revenue                                                        $5,500

Employee salaries

 and wages            $46,300                         $1,000

Travel expenses                                             $ 500

Other expenses    $32,500

The Travel Expenses Activity Variance = Actual cost minus budgeted cost

= $8,500 - $10,000

= $1,500 Favorable

Actual travel expenses = ($500 x 17)

= $8,500

Budgeted travel expenses =  ($500 x 20)

= $10,000

Pattison Corporation's activity variance for Travel Expenses for the month of May is the difference between the actual travel expenses and the budgeted travel expenses.  The budgeted expenses are based on budgeted number of customers served in May while the actual expenses are based on actual number of customers served in May.

TB MC Qu. 6-70 Awtis Corporation has a margin of ... Awtis Corporation has a margin of safety percentage of 25% based on its actual sales. The break-even point is $213,600 and the variable expenses are 45% of sales. Given this information, the actual profit is:

Answers

Answer:

$39,160

Explanation:

Awtis corporation has a margin of safety percentage of 25%

= 25/100

= 0.25

The break even point is $213,600

The variable expenses is 45%

= 45/100

= 0.45

The first step is to calculate the contribution margin ratio

Contribution margin ratio= 1-variable expenses

= 1-0.45

= 0.55

The fixed expenses can be calculated as follows

Fixed expenses= break even sales × contribution margin ratio

= $213,600×0.55

= 117,480

The total actual sales can be calculated as follows

= Break even sales/(1-margin of safety)

= $213,600/(1-0.25)

= $213,600/0.75

= $284,800

Therefore, the actual profit can be calculated as follows

Actual profit= Contribution margin ratio×sales - fixed expenses

= 0.55×284,800-$117,480

= $156,640-$117,480

= $39,160

Hence the actual profit is $39,160

If a company has the following data, is the budget variance favorable or unfavorable? Budgeted Sales $10,000 Actual Sales. $8,000

Answers

Answer:

$2,000 unfavorable

Explanation:

The computation of the budget variance is shown below:

Budget variance is

= Budgeted sales - actual sales

where,

Budgeted sales is $10,000

And the actual sales is $8,000

Now placing these values to the above formula

So, the budget variance is

= $10,000 - $8,000

= $2,000 unfavorable

Since the actual sales is less than the budgeted sales so the same is to be unfavorable else it is favorable

A 25-year old single client has just started his own small business and is not covered by a retirement plan. He has $5,000 to invest and currently has a low level of income. He wishes to start saving for retirement. The BEST recommendation is a:

Answers

Answer:

Roth IRA

Explanation:

Based on this scenario, it can be said that the best recommendation would be a Roth IRA. This is an individual retirement account that non-deductible tax-free growth for retirement at age 59 1/2. As of 2018, the yearly limit for a Roth IRA account is $5,500 meaning that the client in this scenario would not have any problem investing the entire $5000 as soon as they open the account. And since he is in a low tax bracket he should not have any problem opening an Account.

A firm has a market value equal to its book value. Currently, the firm has excess cash of $1,200 and other assets of $7,800. Equity is worth $9,000. The firm has 600 shares of stock outstanding and net income of $760. What will the new earnings per share be if the firm uses its excess cash to complete a stock repurchase?

Answers

Answer: $1.46

Explanation:

Earnings per share = Net Income/Number of shares

Value of shares at current = 9,000/600

= $15 a share

Excess cash is $1,200.

Using that, the following number shares can be purchases;

= 1,200/15

= 80 shares

New number of shares = 600 - 80

= 520 shares

New EPS

= 760/520

= $1.46

Ohno Company specializes in manufacturing a unique model of bicycle helmet. The model is well accepted by consumers, and the company has enough orders to keep the factory production at 10,000 helmets per month (80% of its full capacity). Ohno’s monthly manufacturing cost and other expense data are as follows.

Rent on factory equipment $11,600
Insurance on factory building 2,500
Raw materials (plastics, polystyrene, etc.) 79,700
Utility costs for factory 900
Supplies for general office 300
Wages for assembly line workers 63,700
Depreciation on office equipment 800
Miscellaneous materials (glue, thread, etc.) 1,200
Factory manager’s salary 6,400
Property taxes on factory building 500
Advertising for helmets 14,500
Sales commissions 10,600
Depreciation on factory building 1,600

Required:
Prepare an answer sheet with the following column headings:

Cost Item Direct Materials Direct Labor Manufacturing Overhead Period Costs

Answers

Answer:

Cost Item             Direct            Direct        Manufacturing      Period

                            materials       labor         overhead               costs

Rent on factory                                           $11,600

equipment

Insurance on                                               $2,500

factory building

Raw materials     $79,700

Utility costs                                                  $900

for factory

Supplies for                                                                               $300

general office  

Wages assembly                       $63,700

line workers  

Depreciation on                                                                        $800

office equipment  

Miscellaneous                                               $1,200          

materials  

Factory manager’s                                        $6,400

salary

Property taxes on                                          $500

factory building

Advertising for                                                                           $14,500

helmets

Sales commissions                                                                   $10,600

Depreciation on                                              $1,600

factory building                                                                                          

TOTALS                   $79,700        $63,700     $24,700         $26,200

Deployment Specialists pays a current (annual) dividend of $1.00 and is expected to grow at 20% for 2 years and then at 4% thereafter. If the required return for Deployment Specialists is 8.5%, what is the intrinsic value of its stock? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Answers

Answer:

$30.80

Explanation:

Intrinsic value

V0=D1/1+k +D2/(1+k)^2 +DH+PH/(1 +k)^H

Let plug in the formula

First step

V0=$1 × 1.2/(1+0.085) +($1 × 1.2)^2/(1+0.085)^2 +($1 × 1.2)^2*1.04/(0.085-0.04)*(1+0.085)^2

Second step

V0=1.2/1.085+1.44/1.007225+1.44*1.04/0.045*1.177225

Third step

V0=1.2/1.085+1.44/1.007225+1.4976/0.052975

Fourth step

V0=1.10599+1.42967+28.26993

V0=$30.80

Therefore the intrinsic value of its stock will be $30.80

Discuss three major factors that contribute to an employee's decision to join a union. Discuss the five reasons that have contributed to the trend of decline in unionization g

Answers

Answer:

The answer is below

Explanation:

Three major factors that contribute to an employee's decision to join a union.

1. Greater Bargaining Power

As an individual employee, it can be difficult to negotiate for wage increase or better working condition generally. However, being a member Union, together the group can negotiate and demand for what they feel is right for their members. In a rare occasion, the threat of a strike by a Union is a great tool to bargain well with the employer.

2. Minimize Discrimination

As a Union, it is easier to demand for equality in terms of wage, working condition, promotion, leave etc. Unlike individual employee, who may be facing discrimination from his or her supervisor as to employee related issue. Union can ensure the management used the right policies that seek for equality among all its employees without favoritism or discrimination.

3. Sense of Security

An employee may join the Union on the basis that, Union can save them against abrupt dismissal or other types of work insecurities including accident, injury, illness etc.

Also, Union can help secure retirement benefits and ensure the management improve on the employees' welfare generally.

Five reasons that have contributed to the trend of decline in unionization

1. Irrelevance appearance of the Union:

Many workers believe that Union is not necessary because in the time of economic boom, getting wage increase and other working benefits can be gotten be individual employee and not necessarily through a Union, and at the same time, during economic downturn, unions often times don't have the capacity to protect their members from layoffs, wage and benefit reductions and tougher working conditions.

2. Poor Image of the Union:

Many employers and employees tend to view union with negativity, in the sense that, often times, their demands can be unreasonable, and are characterized by issue of labor racketeering, mob influence and embezzlement.

3. Unions are Seen as Political:

For some employees, they believe that Union tend to use their money or Union dues to support a political candidate. This in turn has made some employees who are neutral, not wanting to join the Union.

4. Reliance on goverment:

Many employees now believe that, government, not Union gives better form of security and voice to air their opinions. These includes pensions, healthcare, protection.

5. Global competition and deregulation in Unionized industries:

Since most of the companies or industries that have union has been deregulated, this has increased its competition, there by, making the need for union not really necessary, because with or without Union, one may still faces sack.

True or false: At 2019 year-end, a government has $25,000 of outstanding encumbrances. The 2019 Budgetary Comparison Scheduled will include the $25,000 whether or not the encumbrances lapse at year-end.

Answers

Answer:

True.

Explanation:

The 2019 Budgetary Comparison Schedule will include the $25,000 whether or not the encumbrances lapse at the year-end, either as outstanding encumbrances or settled encumbrances.  These $25,000 encumbrances are budget reservations of appropriations so that they can be used to settle specified expenditures in the future.  The purpose of making these reservations is to signal that the expenditures have been earmarked so that their cash allocations are not used for other purposes.

SkyChefs, Inc., prepares in-flight meals for a number of major airlines. One of the company’s products is grilled salmon in dill sauce with baby new potatoes and spring vegetables. During the most recent week, the company prepared 5,100 of these meals using 2,000 direct labor-hours. The company paid its direct labor workers a total of $28,000 for this work, or $14.00 per hour. According to the standard cost card for this meal, it should require 0.40 direct labor-hours at a cost of $13.50 per hour. Required: 1. What is the standard labor-hours allowed (SH) to prepare 5,100 meals? 2. What is the standard labor cost allowed (SH × SR) to prepare 5,100 meals? 3. What is the labor spending variance? 4. What is the labor rate variance and the labor efficiency variance? (For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do no round intermediate calculations.)

Answers

Answer:

1. 2,040 Hours

2. $27,540

3. 460 U

4.Labor rate variance = 1,000 U , Labor efficiency variance = 540 F

Explanation:

1. Standard labor hour allowed = (5,100 * 0.40) = 2,040 Hours

2. Standard labor cost = (2,040 * $13.50) = $27,540

3. Labor spending variance = (Standard cost - actual cost)

Labor spending variance = (27,540 - 28,000)

Labor spending variance = 460 U

4. Labor rate variance = (Standard rate - Actual rate) * Actual hours

Labor rate variance = ($13.50 - $14) * 2000

Labor rate variance = 0.50 * 2,000 U

Labor rate variance = 1,000 U

Labor efficiency variance = (Standard hour - Actual hour) * Standard rate

Labor efficiency variance= (2,040 - 2,000) * $13.50

Labor efficiency variance = 40 * 13.50 F

Labor efficiency variance = 540 F

The problem with average-cost pricing regulation is that once it is in place, there is a tendency for the:________


a. ATC curve to shift upward.

b. MR curve to shift leftward.

c. D curve to shift leftward.

d. ATC curve to shift downward.

e. D curve to shift rightward.

Answers

Answer:

a.  ATC curve to shift upward

Explanation:

Average cost pricing is a form of pricing that appears as one of the ways in which the government operates a monopoly market. The government, however, may utilize average cost pricing as a tool to oversee prices monopolists may charge.

In other words, this implies that Monopolists always incline to produce less than the optimal amount boosting the prices up.

Hence, the problem with average-cost pricing regulation is that once it is in place, there is a tendency for the: "Average Total Cost curve to shift upward." This can be a result of an increase in output and reduction price

Consider the following scenario analysis:
Rate of Return
Scenario Probability Stocks Bonds
Recession 0.20 -5 % 14 %
Normal economy 0.60 15 8
Boom 0.20 25 4
Assume a portfolio with weights of .60 in stocks and .40 in bonds.
a. What is the rate of return on the portfolio in each scenario? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)
b. What are the expected rate of return and standard deviation of the portfolio? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Answers

Answer:

a. Rate of Return on the portfolio in each scenario:

Scenario Analysis:

Rate of Return

Scenario                Probability    Stocks     Bonds      Return of Return

Recession                  0.20         -5 %           14 %

= 0.20((-5% x 60%) + (14% x 40%)) = 0.0052 =               0.5%

Normal economy      0.60         15                8

= 0.60((15% x 60%) + (8% x 40%)) =  0.0732 =                7.3%              

Boom                         0.20        25               4

= 0.20((25% x 60%) + (4% x 40%) = 0.0332 =                 3.3%

Weights                     1.00          0.60          0.40

b. Expected rate of return =

Recession =                      0.0052

Normal economy =           0.0732

Boom =                             0.0332

Total expected returns = 0.1116 = 11.2%

Mean = 3.72% (11.2%/3)

Variance = 0.001168

Standard Deviation = 0.034 = 0.03

Explanation:

a) Data:

Scenario Analysis:

Rate of Return

Scenario                Probability    Stocks     Bonds

Recession                  0.20         -5 %           14 %

Normal economy      0.60         15                8

Boom                         0.20        25               4

Weights                     1.00          0.60          0.40

b) The rate of return for each portfolio is derived by weighing the securities, adding the resultant figures and applying the scenario probability.  The expected rate of return is the addition of the returns of all the portfolio under the three scenarios.  The step for obtaining the standard deviation is to calculate the mean, the variance, and getting the square root of the variance.

Japanese tourists come to experience the magic of Disney World and other attractions around Orlando, Florida. These tourists are:___________
[A] contributing to the United States’ deficit balance of payments.
[B] helping increase the balance of payments for Japan.
[C] exporting products and services back to Japan.
[D] further decreasing the United States’ balance of payments.
[E] helping the United States’ balance of payments.

Answers

Answer:

Option E, helping the United States’ balance of payments, is the right answer.

Explanation:

Option “E” is the correct answer because the balance of payment records all the transactions that occurred between the home country and the rest of the word. Therefore, if the foreign tourist spends in the country that means they are helping the balance of payment. This will increase the country’s surplus and the ability to pay the expenses because tourism is helping to generate revenue.

Bond X is a premium bond making semiannual payments. The bond pays a coupon rate of 9 percent, has a YTM of 7 percent, and has 15 years to maturity. Bond Y is a discount bond making semiannual payments. This bond pays a coupon rate of 7 percent, has a YTM of 9 percent, and also has 15 years to maturity. The bonds have a $1,000 par value. What is the price of each bond today

Answers

Answer:

Bond Price today

Bond X = $1183.920454 rounded off to $1183.92

Bond Y = $837.1111146 rounded off to $837.11

Explanation:

To calculate the price of the bond, we need to first calculate the coupon payment per period. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,

For Bond X

Coupon Payment (C) = 0.09 * 1/2 * 1000 = $45

Total periods (n)= 15 * 2 = 30

r or YTM = 7% * 1/2 = 3.5% or 0.035

The formula to calculate the price of the bonds today is attached.

Bond Price = 45 * [( 1 - (1+0.035)^-30) / 0.035]  +  1000 / (1+0.035)^30

Bond Price = $1183.920454 rounded off to $1183.92

For Bond Y

Coupon Payment (C) = 0.07 * 1/2 * 1000 = $35

Total periods (n)= 15 * 2 = 30

r or YTM = 9% * 1/2 = 4.5% or 0.045

Bond Price = 35 * [( 1 - (1+0.045)^-30) / 0.045]  +  1000 / (1+0.045)^30

Bond Price = $837.1111146 rounded off to $837.11

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