Answer:
Lawnmowers’ break-even point in units = 29,787 units
Weed-trimmers’ break-even point in units = 74,468 units
Chainsaws' break-even point in units = 44,681 unit
Explanation:
Given:
Sales Mix Unit Contribution Margin
Lawnmowers 20% $33
Weed-trimmers 50% $21
Chainsaws 30% $37
The number of units of each product that Yard Tools must sell in order to break even under this product mix can be computed using Weighted-Average Contribution Margin Ratio as follows:
Weighted contribution margin = (Sales Mix of Lawnmowers * Unit Contribution Margin of Lawnmowers) + (Sales Mix of Weed-trimmers * Unit Contribution Margin of Weed-trimmers) + (Sales Mix of Chainsaws * Unit Contribution Margin of Chainsaws) = (20% * $33) + (50% * $21) + (30% * $37) = $28.20
Total break-even point in units for the company = Fixed cost / Weighted contribution margin = $4,200,000 / $28.20 = 148,936 units
Therefore, we have:
Lawnmowers’ break-even point in units = Sales Mix of Lawnmowers * Total break-even point in units for the company = 20% * 148,936 = 29,787 units
Weed-trimmers’ break-even point in units = Sales Mix of Weed-trimmers * Total break-even point in units for the company = 50% * 148,936 = 74,468 units
Chainsaw’s break-even point in units = Sales Mix of Chainsaws * Total break-even point in units for the company = 30% * 148,936 = 44,681 units
which of the following would be included in the set of electrical plans for individual residence?
A. Individual romex cables
B. Power panels to be installed
C. routes of cables
D. Wire sizes
Answer:
A. Individual romex cables
Explanation:
Individual romex cables would be included in the set of electrical plans for individual residence.
This is because they are a non-metallic sheathed cables, and they are flexible electrical cables which are popularly used in residential setups.
This cable comes with two insulated wires that include a ground copper wire that ensures safe passage of electrical current in case of any unfortunate event.
Marion is a great manager and he has a number of special skills. In particular, Marion has the ability to get his subordinates to do more than would be normally expected. Which of the following terms best describes Marion?
a. Transactional leader
b. Supportive leader
c. Charismatic leader
d. People-oriented leader
Answer: c. Charismatic leader
Explanation:
Charismatic leaders are people who are capable of motivating other people by using their great interpersonal and communication skills, ability to charm others and the ease with which they can persuade people.
When they motivate others, those people are willing to do more than they normally do in relation to what they were being motivated for. In this case, Marion is therefore a charismatic leader as he is able to get employees to do more than they normally do.
Describe the main procedures of running a successful meeting
The Three Rules of Running a Meeting. Set the Agenda. ...
Control the Meeting, Not the Conversation. Let Them Speak. ...
Make Meetings Essential. Do a Meeting Audit.
Question
In 2 hours, China can produce 6 bottles of milk. In 5 hours, it can produce 15 batches of pumpkins. What is the country's
opportunity cost of producing 1 bottle of milk (in terms of batches of pumpkins)?
your answer below:
Answer:
China's opportunity cost of producing 1 bottle of milk is equal to one batch of pumpkins.
Explanation:
Given that in 2 hours, China can produce 6 bottles of milk, and in 5 hours, it can produce 15 batches of pumpkins, to determine what is the country's opportunity cost of producing 1 bottle of milk (in terms of batches of pumpkins), the following calculation must be performed:
Milk = 6/2 = 3 per hour
Batches of pumpkins = 15/5 = 3 per hour
3/3 = 1
Therefore, China's opportunity cost of producing 1 bottle of milk is equal to 1 batch of pumpkins.
The ABC Corporation makes collections on sales according to the following schedule: 45% in month of sale 50% in month following sale 5% in second month following sale The following sales have been budgeted: Sales April $ 160,000 May $ 180,000 June $ 170,000 Budgeted cash collections in June would be:
Answer: $170500
Explanation:
Based on the information given in the question, the budgeted cash collections in June would be calculated thus:
= (45% × $160000) + (50% × $180000) + (5% × $170000)
= $72000 + $90000 + $8500
= $170500
Therefore, the budgeted cash collections in June would be $170500
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT Multiple Choice inadequate resources. people are working on multiple projects and feel inefficient. frequent conflicts between managers. confused employees regarding which projects are more important. not enough projects within the portfolio to make a profit.
Answer:
All of the following are symptoms of organizations struggling with strategy disconnect and unclear priorities EXCEPT
not enough projects within the portfolio to make a profit.
Explanation:
Strategy disconnect does not support an organization to be consistent in its actions at every level. However, where the strategy is shared across board, there is an integrated and coordinated attempt at long-term planning with the organization positioned to exceed the needs of its customers and to achieve success. With strategy connect, the organization responds well to changes in its external environment and is able to allocate scarce resources for the improvement of its competitive position.
In January, Dieker Company requisitions raw materials for production as follows: Job 1 $970, Job 2 $1,700, Job 3 $790, and general factory use $660. Prepare a summary journal entry to record raw materials used. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dr Work in Process Inventory $3460
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
Explanation:
Preparation of a summary journal entry to record raw materials used.
Based on the information given the summary journal entry to record raw materials used will be:
Dr Work in Process Inventory $3460
($970+$1700+$790)
Cr Manufacturing Overhead $660
Cr Raw materials Inventory $2,800
($3460-$660)
(To record raw materials used)
On whom the trade bill drawn ?
The bill of exchange is drawn by the seller of the goods and is accepted by the buyer.
How does marketing satisfy your needs as a college student? Are certain aspects of your life influenced more heavily by marketing than others? Provide examples
A money market security that has a par value of $10,000 sells for $8,924.70. Given that the security has a maturity of two years, what is the investor's required rate of return?
Answer:
The answer is "5%".
Explanation:
[tex]\to \$8,924.70 = \frac{10,000}{(1 + r )^2}\\\\\to \$8,924.70 (1+r)^2= 10,000\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= \frac{10,000}{\$8,924.70}\\\\\to (1+r)^2= 1.1204\\\\\to (1+r)= 1.05\\\\\to r= 1.05-1\\\\\to r=0.05\\\\\to r=5\%\\\\[/tex]
Along any downward sloping straight-line demand curve: Group of answer choices both the price elasticity and slope are constant. both the price elasticity and slope vary. the price elasticity varies, but the slope is constant. the slope varies, but the price elasticity is constant.
Answer:
the price elasticity varies, but the slope is constant
Explanation:
The demand curve is a curve that shows the relationship between price and quantity demanded. The demand curve is negatively sloped because the higher the price, the lower the quantity demanded. This is in line with the law of demand.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
At the midpoint of the demand curve, demand is usually unit elastic. Above the midpoint of the demand curve, demand is elastic and blow the midpoint, demand is inelastic
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.
Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases
Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.
On January 1, 20Y2, Hebron Company issued a $175,000, five-year, 8% installment note to Ventsam Bank. The note requires annual payments of $43,830, beginning on December 31, 20Y2.Journalize the entries to record the following:
Answer and Explanation:
The journal entries are shown below:
1. Cash Dr $175,000
To note payable $175,000
(being note payable is issued)
2. Interest expense Dr (8% of $175,000) $14,000
To interest payable $14,000
(being interest expense is recorded)
3. Interest payable $14,000
Note payable $29,830
To cash $43,830
(being cash paid is recorded)
4. Interest expense $6,253
To interest payable $6,253
(being interest expense is recorded)
5. Interest payable $6,253
Note payable $37,577
To cash $43,830
(being cash paid is recorded)
The country of Bolivia had a Gross Domestic Product of $79 billion in 2016 and a population of 11 million people, the GDP per capita would be ________.
Answer:
The GDP per capita of country of Bolivia would be $7,181.82.
Explanation:
GDP Per capita refers to a measure that calculates a country's economic output per person by dividing its GDP by its population.
Therefore, we have:
GDP per capita = GDP / Population = $79 billion / 11 million = $79,000,000,000 / $11,000,000 = $7,181.82
Therefore, the GDP per capita of country of Bolivia would be $7,181.82.
On January 1, Parson Freight Company issues 7.0%, 10-year bonds with a par value of $4,500,000. The bonds pay interest semiannually. The market rate of interest is 8.0% and the bond selling price was $4,194,222. The bond issuance should be recorded as:
Answer: Debit Cash $4,194,222; Debit Discount on bonds payable $305,778; Credit Bonds payable $4,500,000
Explanation:
Based on the information given in the question, the journal entry will be prepared as follows:
Debit Cash $4,194,222
Debit Discount on bonds payable $305,778
Credit Bonds payable $4,500,000
Note that the discount on Bonds Payable was calculated as:
= $4,500,000 - $4,194,222
= $305,778
One key characteristic that is distinctive of an oligopoly market is that Group of answer choices the demand curve facing each firm is downward sloping, with a marginal revenue curve that lies below the firm's demand curve. the decisions of one seller often influence the price of products, the output, and the profits of rival firms. there is only one firm that produces a product for which there are no good substitutes. there are many sellers in the market and each is small relative to the total market.
Answer:
The decisions of one seller often influence the price of products, the output, and the profits of rival firms.
Explanation:
An oligopoly is a market structure where there are only a few sellers. Therefore, around two or more firms have control over the market. Collectively, they can influence the prices and supply.
This ultimately results in high-level competition between these sellers. Since there are a few sellers in the oligopoly structure, each of these company's profit levels not only depends on the decisions made by them but also on the decisions made by their rival firms.
Hence, option no. 3 "the decisions of one seller often influence the price of products, the output, and the profits of rival firms" is correct.
Activity A is worth $100, is complete, and actually cost $150. Activity B is worth $500, is 75% complete, and has actually cost $400 so far. Activity C is worth $500, is 25% complete, and has actually cost $200 so far. What is the estimated cost at completion for this project, assuming current variances are typical of future variances?
Answer:
$1,375
Explanation:
Budget at completion = Worth of activity A + Worth of activity B + Worth of activity C
Budget at completion = $100 + $500 + $500
Budget at completion = $1,100
Earned value = Worth of activity A*% completed + Worth of activity B*% completed + Worth of activity C*% completed
Earned value = $100*100% + $500*75% + $500*25%
Earned value = $100 + $375 + $125
Earned value = $600
Actual cost = Actual cost of Activity A + Actual cost of Activity B + Actual cost of Activity C
Actual cost = $150 + $400 + $200
Actual cost = $750
Cost performance Index = Earned value / Actual cost
Cost performance Index = $600 / $750
Cost performance Index = 0.80
Cost performance Index = 80%
Estimate at completion = Budget at completion / Cost performance Index
Estimate at completion = $1,100 / 0.80
Estimate at completion = $1,375
Ames Trading Co. has the following products in its ending inventory.Product Quantity Cost per Unit Market per UnitMountain bikes 11 $600 $550Skateboards 13 $350 $425Gliders 26 $800 $700Compute lower of cost or market for inventory applied separately to each product.
Answer:
Mountain Bikes
Market value is $550 and cost is $600.
Lower is market.
Inventory value is therefore:
= Quantity * Market
= 11 * 550
= $6,050
Skateboards
Market value is $425 and cost is $350.
Cost is lower.
Inventory value is:
= 13 * 350 cost
= $4,550
Gliders
Market value is $700 and cost is $800.
Inventory value is:
= 26 * 700 market value
= $18,200
For February, sales revenue is $250,000; sales commissions are 6% of sales; the sales manager's salary is $50,000; advertising expenses are $15,000; shipping expenses total 1% of sales; and miscellaneous selling expenses are $1,000 plus 1/2 of 1% of sales. Total selling expenses for the month of February are:_______.
a. $65,000.
b. $69,750.
c. $82,250.
d. $84,750.
Answer:
d. $84,750.
Explanation:
Calculation to determine what Total selling expenses for the month of February are:
Sales commissions $15,000
($250,000 ×6%)
Sales manager's salary $50,000
Advertising expenses $15,000
Shipping expenses $2,500
($250,000 × 1%)
Miscellaneous selling expense $2,250
[$1,000 + ($250,000 × 0.5%)]
Total selling expenses $84,750
Therefore Total selling expenses for the month of February are:$84,750
Notes Receivable differ from Accounts Receivable in that Notes Receivable: A. are generally considered a weaker legal claim B. do not have to be created for every new transaction, so they are used more frequently C. are noncurrent assets D. generally charge interest from the day they are signed to the day they are collected
Answer: D. generally charge interest from the day they are signed to the day they are collected
Explanation:
The notes receivable refers to the written promise that an amount of money will be received at a future date.
It should be noted that such money consist of the principal and the interest accrued. It is written under the current assets section in the balance sheet.
On the other hand, the accounts receivable refers to the payment that a company will receive from the customers who have bought its goods on credit.
While the nite receivable charges interest, the account receivable doesn't. Therefore, notes receivable differ from accounts receivable in that notes receivable generally charge interest from the day they are signed to the day they are collected.
You are buying a laptop and there is two payment plans to consider. Payment plan A is to pay $4,900 now and payment plan B is to pay $500 now and pay $210.30 per month for 30 months. Using an interest of 24%, which payment plan do you choose
Answer: Plan A has a lower present value and should be chosen.
Explanation:
Choose the one that has the lower present value because that means that it would be cheaper.
Present value of plan A = $4,900
Present value of plan B
= $500 + Present value of $210.30 per month for 30 months
$210.30 is constant so it is an annuity.
Periodic interest rate = 24%/12 = 2%
Present value of annuity = Annuity * ( 1 - (1 + rate)^-number of periods) / rate
= 210.30 * ( 1 - (1 + 2%)⁻³⁰) / 2%
= $4,709.97
Present value of plan B = 500 + 4,709.97
= $5,209.97
Choose Plan A because it has a lower present value.
Good afternoon. Kindly assist on the following please. Assignment due by 4:30pm Mike bookshop had the following structure. Share capital 500000 ordinary shares of $1 each. 300000 10% preference of $1 each. Reserves Share premium 200 000 General reserves 100 000 Retained earnings 400 000 8% debenture 100 000 During the year the following transaction took place. 01 January issue of 200 000 $1 ordinary shares at$1,20 and 100 000 preference shares at $2 each. 01 June a 1 for 4 right issue at a premium of $0,10c each per share. 01 December 1 for 5 bonus shares fully paid. All shares issued during the year qualified for bonus and the company wishes to leave the reserves in their flexible form. Required. Balance sheet extract.
Answer:
Mike Bookshop
Balance Sheet Extract as at December 31
Share capital:
1,050,000 ordinary shares of $1 each $1,050,000
400,000 10% preference of $1 each 400,000
Total share capital $1,450,000
Reserves:
Share premium 357,500
General reserves 100,000
Retained earnings 225,000
Total reserves $682,500
8% debenture $100,000
Explanation:
a) Data and Analysis:
Share capital:
500000 ordinary shares of $1 each.
300000 10% preference of $1 each.
Reserves:
Share premium 200 000
General reserves 100 000
Retained earnings 400 000
8% debenture 100 000
During the year the following transaction took place.
01 January Cash $240,000 Ordinary share capital $200 000 Share Premium $40,000
$1 ordinary shares at$1.20 and
01 January Cash $200,000 Preferred share capital $100 000 Share Premium $100,000
01 June Cash $192,500 Ordinary share capital $175,000 Share Premium $17,500
a 1 for 4 right issue at a premium of $0.10c each per share.
01 December Retained Earnings $175,000 Ordinary share capital $175,000
1 for 5 bonus shares fully paid.
Ordinary share capital:
Beginning balance $500,000
January 1 issue 200,000
June 1 rights issue 175,000
Dec. 1 bonus issue 175,000
Ending balance $1,050,000
Preferred share capital:
Beginning balance $300,000
January 1 issue 100,000
Ending balance $400,000
Share Premium:
Beginning balance $200,000
January 1 issues 140,000
June 1 rights issue 17,500
Ending balance $357,500
General reserves $100,000
Retained Earnings:
Beginning balance $400,000
Dec. 1 Bonus issue (175,000)
Ending balance $225,000
Granfield Company is considering eliminating its backpack division, which reported an operating loss for the recent year of $42,200. The division sales for the year were $963,800 and the variable costs were $477,000. The fixed costs of the division were $529,000. If the backpack division is dropped, 40% of the fixed costs allocated to that division could be eliminated. The impact on Granfield's operating income for eliminating this business segment would be:__________.
a. $275,200 increase
b. $486,800 decrease
c. $211,600 increase
d. $275,200 decrease
e. $486,800 increase
Answer:
d. $275,200 decrease
Explanation:
Calculation to determine what The impact on Granfield's operating income for eliminating this business segment would be:
Using this formula
Impact on operating income =Saving in relevant fixed cost -loss of Contribution margin of backpack Division
Let plug in the formula
Impact on operating income=($529,000*40%)-($963,800-$477,000)
Impact on operating income=$211,600-$486800
Impact on operating income=$275,200 decrease
Therefore The impact on Granfield's operating income for eliminating this business segment would be:$275,200 decrease
In the world oil market, oil is supplied up to the point where: Select one: A. the marginal cost of the last barrel is at a maximum B. the marginal cost of the last barrel is the greatest distance from the price buyers are willing to pay for that last barrel C. the marginal cost of the last barrel is zero D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Answer:
D. the marginal cost of the last barrel is just equal to the price buyers are willing to pay for that last barrel.
Explanation:
In the case of the oil market that oil is to be supplied to the point where the marginal cost of the previous barrel should be equivalent to the price where the pruchaser want to pay for that previous barrel
So as per the given situation, the option d is correct
ANd, the rest of the options seems incorrect
These are selected account balances on December 31, 2020. Land (location of the office building) $97000 Land (held for future use) 152000 Corporate Office Building 675000 Inventory 182000 Equipment 457000 Office Furniture 135000 Accumulated Depreciation 427000 What is the total net amount of property, plant, and equipment that will appear on the balance sheet
Answer:
$937,000
Explanation:
Calculation to determine the total net amount of property, plant, and equipment that will appear on the balance sheet
Land (location of the office building) $97000
Add Office Building 675000
Add Equipment 457000
Add Office Furniture 135000
Less Accumulated Depreciation (427000 )
Total Net Amount $937,000
Therefore the total net amount of property, plant, and equipment that will appear on the balance sheet is $937,000
odson Company manufactures a product with a standard direct labor cost of 2.3 hours of labor per unit at $10.60 per hour. Last month, 170 units were produced using 90 hours at $11.60 per hour. What was the company's labor quantity variance
Answer:
Direct labor time (efficiency) variance= $3,190.6 favorable
Explanation:
To calculate the direct labor quantity variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (391 - 90)*10.6
Direct labor time (efficiency) variance= $3,190.6 favorable
Standard quantity= 2.3*170= 391
Explain why, for income tax purposes, management of Dorsey Co. would want as little of the purchase price as possible allocated to land. (Select all that apply.)
Answer:
In simple words, any company operating a business do not want to allocate much price to the land as it is non current asset and also it does not depreciate in value over time.
The depreciation amount reduces the taxable income of the year which further results in less taxable amount. Thus, resulting in higher profits for the company.
Select the market segment that looks the most promising?
1. Luxury trenfollowers
Segment size 5,000(5%)
Growth rate 7%
2. School children
Segment size 35,000 (35%)
Growth rate 1%
3. University students
Segment size 24,099(24%)
Growth rate 5%
4. Outdoor enthusiasts
Segment size 14,000 (14%)
Growth rate 5%
5. Urban commuters
Segment size 20,000 (20%)
Growth rate 3%
Answer:
Luxury Trend followers
Explanation:
The consider which market segment shows the most or higest level of promise, we may have to the growth rate of each segment, which is the percentage change in earnings or revenue over a specific period of time. From the data given, the market segment with the greatest growth rate is the trend followers segment with a growth rate of 7%
Luxury trend followers : 7%
School children : 1%
University students : 5%
Outdoor enthusiasts : 5%
Urban Commuters : 3%
When the price of paintings is set at $500, the local art gallery supplies 20 paintings per week. When the price of paintings increases to $750, the gallery supplies 25 paintings. Calculate the price elasticity of supply using the mid-point formula. Instructions: Round your answer to two decimal places. If you are entering a negative number be sure to include a negative sign (-) in front of that number. The price elasticity of supply is: .
Answer:
the price elasticity of supply is 0.555
Explanation:
The computation of the price elasticity of supply is given below:
= Percentage change in quantity supplied ÷ percentage change in price
= (25 - 20) ÷ (25 + 20) ÷ 2 ÷ (750 - 500) ÷ (750 + 500) ÷ 2
= 5 ÷45 ÷ 250 ÷ 125
= 0.555
Hence, the price elasticity of supply is 0.555
The same is relevant
Which of the following is not an example of what creates a hostile work environment?
1. Displaying sexually suggestive pictures or posters
2. Making sexual comments to other employees
3. All of these
4.Dispensing Assignments based on merit.
Answer:
4.Dispensing Assignments based on merit.
Explanation:
Dispensing Assignments based on merit is not an example of what creates a hostile work environment.
There are examples of what could cause a hostile work environment which include sexual harassment, use of foul language, etc.
However, giving assignments based on merit is not one of those.
g Find the monthly payment and estimate the remaining balance (to the nearest dollar). Assume interest is on the unpaid balance. 5-year car loan for $9700 at 5%; remaining balance after 4 years.
Answer:
Monthly payment $102.88
Outstanding balance after year 4 $1,201.76
Explanation:
First and foremost, the car loan amount of $9,700 is the present value of all monthly payments for 5 years as shown below:
PV=monthly payment*(1-(1+r)^-n/r
PV=car loan amount=$9,700
monthly payment=unknown
r=monthly interest rate=5%/12=0.004166667
n=number of monthly payments in 5 years=5*12=60
$9700=monthly payment*(1-(1+0.004166667)^-120/0.004166667
$9700=monthly payment*(1-(1.004166667)^-120/0.004166667
$9700=monthly payment*(1-0.607161016 )/0.004166667
$9700=monthly payment*0.392838984 /0.004166667
$9700=monthly payment*94.28134862
monthly payment=$9700/94.28134862
monthly payment=$102.88
The outstanding balance after year 4 is the present value of monthly payments for the remaining 1 year(12 months)
PV=$102.88*(1-(1+0.004166667)^-12/0.004166667
PV=$102.88*(1-(1.004166667)^-12/0.004166667
PV=$102.88*(1-0.951328238 )/0.004166667
PV=$102.88*0.048671762 /0.004166667
PV=$1,201.76
