Answer:
. the value of the production per hour worked has to increase.
Explanation:
Productivity is a measure of output generated from per unit of input. It is a measure of the efficiency of a machine, worker, system, or factory in converting inputs to desired outputs. Productivity is calculated by dividing the average output per period by the incurred input (labor, time, capital, material, energy).
For productivity to increase, the value of production per hour has to increase. The output per hour has to increase compared to the input used.
Consider an espresso stand with a single barista. Customers arrive to the stand at the rate of 28 per hour. Service rate is 35 customers per hour. On average, each customer purchase $4.25. On average, how many minutes will a customer spend waiting in line
Answer:
6.86 minute
Explanation:
The arrival rate λ= 28
The service rate μ = 35
Average time a customer spends in the line for service is:
Wq = ( λ / μ(μ-λ)
Wq = ( 28 / 35 (35 - 28))
Wq = ( 28 / 35 (7))
Wq = ( 28 / 245)
Wq = 0.11429 hours
Wq = 0.11429 hours * 60
Wq = 6.8574 minute
Wq = 6.86 minute
The U.S. Senate has 100 members. Suppose there are 54 Republicans and 46 Democrats. A committee of 15 senators is selected at random. What is the expected number of Republicans on this committee? 9.0 7.1 8.1 6.7
Seven years ago, Lance Measy purchased a wooden statue of a Spanish Conquistador for $8,200 to put in his home office. Lance recently married a woman who he thinks has better taste then he does and she insists it has to go. He loves his new wife and agrees to sell the Conquistador statue on ebay and receives less than he paid for it, $7,000. What is his rate of return on the purchase of the statue? Hint, I/Y compounded annually
Answer:
-2.28%
Explanation:
we can use the future value formula:
FV = PV x (1 + r)ⁿ
$7,200 = $8,200 x (1 + r)⁷
(1 + r)⁷ = $7,000 / $8,200 = 0.853658536
⁷√(1 + r)⁷ = ⁷√0.853658536
1 + r = 0.9772
r = -0.0228 = -2.28%
There are Federal Reserve regional banks. Which of the following contributes to making the Federal Reserve an independent policymaking body? Members of the Board of Governors are appointed for 14-year terms. Its role is written into the U.S. Constitution. There are 12 Federal Reserve banks. The Federal Reserve's primary tool for changing the money supply is . In order to increase the number of dollars in the U.S. economy (the money supply), the Federal Reserve will government bonds.
Answer:
There are 12 Federal Reserve regional banks. A further explanation is given below.
Explanation:
The central U.S is the treasury department System. This isn't about a foreign company. Alternatively, the complete United States is broken across 12 treasury department regions, along with a federal reserve bank throughout the jurisdiction. The treasury department system is established by these 12 area federal reserve banks.So, there are many 12 area Federal Reserve banks.
Despite the latter's independence towards political interference, the federal reserve system is perceived to be autonomous. This is because a director of the Federal Reserve executive committee is named for a maximum term duration of 14 years. This starts and ends the duration of three or four U.S president and thereby actually protects the board against political control.
Representatives are named to the board of directors for a period of 14 years.
Open market activities are the main weapon of the Federal Reserve for adjusting the amount of money in circulation. The Federal Reserve would issue government securities to decrease the consumption of dollars from the U.S.Use the Keynesian cross to predict the impact on equilibrium GDP of a. An increase in government purchases. b. An increase in taxes. c. Equal-sized increases in both government purchases and taxes.
Answer:
An increase in government purchases
Explanation:
The Keynesian cross explains to us that fiscal policy has multiple impacts on income. The reason for this has been explained by many, according to consumption, that higher income is seen to lead to higher consumptions. Keynesian economics (KE) as an idea was developed before the aggregate demand/aggregate supply model was made popular.
The KE was explained using the expenditure-output approach which lays emphases on the total amount of spending in the economy
Consider the following scenario: Suppose that a cafe enjoys a large increase in customers whenever the jazz club next door features a band playing appealing music, because it can be easily heard from the cafe. The jazz club owner decides to purchase the cafe so that he can internalize this positive externality. Which of the following types of private solutions to the externality of appealing music has occurred in this case? Integration of different types of businesses through merger or acquisition Charities Contracts Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes .
Answer:
Integration of different types of businesses through merger or acquisition
negotiations among all of the parties too costly
Explanation:
Here is the complete second question : It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes (the market failure from the externality unimportant, coordinating negotiations among all of the parties too costly, government action the only viable solution).
Positive externality occurs when the benefits of economic activities to third parties exceeds the costs.
Government encourages activities that generates positive externalities by granting subsidies
The activities of the jazz club generates positive externality to the cafe.
How to internalise positive externality includes :
Integration of different types of businesses through merger acquisition : this is the step taken by the cafe by purchasing the jazz clubCharities ContractsKnowledge Check 01 Which of the following is deducted from the total selling and administrative expense budget to determine the cash disbursements for selling and administrative expense budget? Advertising expense Depreciation expense Selling commissions Utilities expense Knowledge Check 02 A company determines that the number of units sold is the cost driver for its variable selling and administrative expense budget. The product of its variable selling and administrative rate and budgeted unit sales will be ________. budgeted sales revenue total budgeted cash disbursements for selling and administrative expenses total budgeted fixed selling and administrative expenses total budgeted variable selling and administrative expenses
Answer:
Knowledge Check 01 Which of the following is deducted from the total selling and administrative expense budget to determine the cash disbursements for selling and administrative expense budget?
Depreciation expenseDepreciation expense is a non cash charge since there is no cash outflow associated to it. The same applies for amortization expense, asset impairments, stock based compensation and asset depletion (similar to depreciation but used by extracting companies like mines and oil companies).
Knowledge Check 02 A company determines that the number of units sold is the cost driver for its variable selling and administrative expense budget. The product of its variable selling and administrative rate and budgeted unit sales will be ________.
total budgeted variable selling and administrative expensesSince we are dealing with budgets, any calculation is also a budget or forecast. We are calculating here the total budgeted variable selling and administrative expense since we are multiplying the predetermined variable S&A per unit x budgeted units.
Suppose we express the amount of land under cultivation as the product of four factors:
Land = (land/food) x (food/kcal) X (kcal/person) X (population)
The annual growth rates for each factor are (1) the land required to grow a unit of food, - 1 percent (due to greater productivity per unit of land); (2) the amount of food grown per calorie of food eaten by a human, +0.5 percent (because with affluence, people consume more animal products, which greatly reduces the efficiency of land use); (3) the per capita calorie consumption, +0.1 percent; and (4) the size of the population, + 1.5 percent. At these rates, how long would it take to double the amount of cultivated land needed? At that time, how much less land would be required to grown a unit of food?
Answer:
t = 63.01338
46.74%
Explanation:
Using the exponential growth equation :
P = Po * exp(rt)
Rate factors are :
land required to grow a unit of food, = - 1%
amount of food grown/calorie of food = +0.5%
size of the population = 1.5 percent
the per capita calorie consumption, +0.1%
Σ growth rates = - 1 + 0.5 + 1.5 + 0.1 = 1.1% = 0.011
Time taken for Population to double ;
Population (P) = 2 * initial population (Po)
P = 2Po
P = Po * exp(rt)
Substitute 2Po for P
2Po = Po * exp(rt)
2 = exp (rt)
Take the In of both sides
In(2) = rt
0.6931471 = 0.011 * t
t = 0.6931471/ 0.011
t = 63.01338
At that time, how much less land would be required to grown a unit of food?
100 - exp(rt)
r = growth rate of land required to grow a unit of food, = - 1% = - 0.01
[1 - exp(-0.01 * 63.01338)]
[1 - 0.5325205]
= (0.4674795)
= (0.4674) * 100%
= 46.74%
A loan is being repaid with payments of $395 made at the beginning of each year for 17 years. Determine the effective annual rate of interest charged if the loan amount is $5081.27.
Answer:
3.76%
Explanation:
I did this computation using excels Rate function. I will show you how to do the same in this solution
From our question,
We have:
Loan amount = Present Value(PV) = -5081.27
Payments at periods PMT = $ 395
The Future Value (FV) = 0
We were given Period (NPER) = 17
The Type = 1 because payments are made at the start of each year.
To get rate = RATE (NPER, PMT,PV,FV,Type, Guess)
= RATE(17,395,-5081.27,0,1,0)
= 3.76%
The effective annual rate = 3.76%
Tangible resources include:
A. human assets and intellectual capital, which can include the talent of the work force and the creativity and innovativeness of certain personnel.
B. reputational assets, which can include the company's reputation for quality, service, and reliability as well as their reputation for fair dealings with suppliers.
C. relationships with alliances that provide access to technologies, specialized know-how, or geographic markets.
D. technological assets such as patents, copyrights, and trade secrets.
E. None of these.
Answer:
D.technological assets such as patents, copyrights, and innovation technologies.
Explanation:
Tangible resources are regarded as a physical asset with a set of value that are been owned by organization, companies. Tangible resources could be equipment, machinery, buildings, cash and so on.
It should be noted that Tangible resources can be in form of technological assets such as patents, copyrights, and innovation technologies.
They are important in finance because their utilization could be for very long time in the business.
:
5. Hazelwood School District is located in Sleepy Hollow Township. It is being sued by several teachers who applied for teaching positions with the school but were rejected. The plaintiffs, who are all African-Americans, produce the following evidence: a) 1.8 percent of the Hazelwood School District's certified teachers are African-American, whereas 15.4 percent of the certified teachers in Sleepy Hollow Township are African-American; and b) The hiring decisions by Hazelwood School District are based solely on subjective criteria. Will the plaintiffs prevail
Answer:
The plaintiffs will probably win because the school district is clearly discriminating against African American teachers.
Title VII of the Civil Rights Act establishes that it is illegal to discriminate against job applicants based on race, ethnic background, gender, sexual preferences, religion, etc.
Since 15.4% of all certified teachers in the district are African Americans, you would expect that the number of teachers employed by the school district would be similar. It doesn't have to be exact, but it should be a closer number, not 1.8%.
Hector and Maria Gonzales Hector a Maria have been married for almost one year now and are thinking about buying a house. Maria is an executive for a large, multi−national corporation with offices around the world. She has been told by her company that she will be transferred to a new location every three years. Hector is a car salesman and he is willing to move to wherever Maria gets transferred. Together they make $8,000 in gross monthly income and pay 40% in taxes and withholdings every month. Between them they have monthly payment of $400 in student loans and $700 in car loans, and their credit cards payments average $450 per month. They currently lease a luxury condo for $1,400 per month. They travel to Cancun every Christmas. Since they both work a lot of hours, they eat out at restaurants for most meals. They currently have nothing in savings but Hector's grandparents have said they will give them a 20% down payment for the new home. Based on t
Question Completion:
They have found a very nice townhouse available for $200,000. Assuming a 20% down payment and a 30-year fixed rate mortgage at 6.65%, what will their PITI be? Annual property taxes are $2,400 and homeowner's insurance premium is $900 per year.
Answer:
Hector and Maria Gonzales
Their PITI will be:
Mortgage Payment $1,027.14
Property Tax $200.00
Home Insurance $75.00
Total PITI = $1,302,14
NB: The rule states that Hector and Maria's PITI should not exceed 28% of their pre-tax monthly income.
Explanation:
a) Data and Calculations:
Home Price = $200000
Down Payment = 20
%
Loan Term = 30 years
Interest Rate = 6.65
%
Start Date = Jan 1, 2020
Annual Tax & Other Cost
s
Property Taxes = $2400
Home Insurance = $900
PMI Insurance = $0
HOA Fee = $0
Other Costs = $35400
b) Based on an online financial calculator:
Monthly Pay: $1,027.14
Monthly Total
Mortgage Payment $1,027.14 $369,771.77
Property Tax $200.00 $72,000.00
Home Insurance $75.00 $27,000.00
Other Costs $2,950.00 $1,062,000.00
Total Out-of-Pocket 4,252.14 $1,530,771.77
House Price $200,000.00
Loan Amount $160,000.00
Down Payment $40,000.00
Total of 360 Mortgage Payments $369,771.77
Total Interest $209,771.77
Mortgage Payoff Date Jan. 2050
c) The PITI is an acronym for principal, interest, taxes, and insurance—the sum components of a mortgage payment. It helps Hector and Maria Gonzales to determine the affordability of this mortgage. The Other Costs of $35,400 represent the annual costs of student and car loans, credit cards payments, and the condo, where they live.
Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 8,900 16,600 25,500 Revenues $ 1,450,000 $ 1,200,000 $ 2,650,000 Engineering hours 7,375 5,375 12,750 Engineering cost $ 402,500 $ 521,875 $ 924,375 Administrative costs $ 739,500 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the number of users to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service?
Answer: See explanation
Explanation:
a. Predetermined overhead rate will be:
= Administrative costs/Number of users
= 739,500/25,500
= $29 per user
Administrative costs applied to Toot will be:
= Number of users x Predetermined overhead rate
= 8900 x 29
= $258100
Administrative costs applied to Tix will be:
= Number of users x Predetermined overhead rate
= 16600 x 29
= $481400
b. For Toot
Revenue: $1,450,000
Less: Engineering cost: $402,500
Less: Administrative cost: $258,100
Profit = $789400
For Tix:
Revenue: $1,200,000
Less: Engineering cost: $521,875
Less: Administrative cost: $481,400
Profit = $196725
Urban Drapers Inc., a drapery company, has been successfully doing business for the past 15 years. It went public eight years ago and has been paying out a constant dividend of $3.52 per share every year to its shareholders. In its most recent annual report, the company informed investors that it expects to maintain its constant dividend in the foreseeable future and that dividends are not expected to increase. If you are an investor who requires a 25.50% rate of return and you expect dividends to remain constant forever, then your expected valuation for Urban Drapers stock today is ________ per share.Urban Drapers has a sister company named Super Carpeting Inc. (SCI). SCI just paid a dividend (D_0) of $2.64 per share, and its annual dividend is expected to grow at a constant rate (g) of 5.50% per year. If the required return (r_s) on SCI's stock is 13.75%, then the intrinsic value of SCI's shares is _______ per share. Which of the following statements is true about the constant growth model? When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to an increased value of the stock. When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to a decreased value of the stock.
Answer:
The answer is "$0.138 and $33.76".
Explanation:
[tex]\text{Value of urban drapers stock} = \frac{\text{Annual dividend}}{\text{Required rate of return}}[/tex]
[tex]= \frac{3.52}{25.50} \\\\= \$ 0.138[/tex]
[tex]\text{Intrinsic value of SCI share} = \frac{D_1}{ \text{Required rate - growth rate}}[/tex]
[tex]= \frac{( 2.64 \times 1.055)}{0.1375 - 0.055} \\\\= \frac{2.7852}{0.0825}\\\\ = \$ 33.76[/tex]
The manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,900 direct labor-hours will be required in January. The variable overhead rate is $7 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,230 per month, which includes depreciation of $3,530. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Answer:
$67,000
Explanation:
Calculation for the cash disbursements for manufacturing overhead
Using this formula
Cash disbursements = Variable + Fixed
Let plug in the formula
Cash disbursements= (3,900*$7) + (43,230 - 3,530)
Cash disbursements= 27,300+ 39,700
Cash disbursements=$67,000
Therefore the cash disbursements for manufacturing overhead will be $67,000
which of the following is the most common form of the research title
Operating a cash register is a _________ skill. (soft skill or hard skill)
Answer:
Also a hard skill.
Explanation:
A hard skill is something that you have to learn.
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,100 February 375 5,300 March 625 6,350 April 400 5,200 May 650 6,300 June 600 6,300 July 350 5,000 August 675 6,300 September 550 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 700 cavitie
Answer:
Results are below.
Explanation:
Giving the following information:
Month Number of Cavities Filled Total Cost
January 300 $5,100
February 375 5,300
March 625 6,350
April 400 5,200
May 650 6,300
June 600 6,300
July 350 5,000
August 675 6,300
September 550 6,000
To calculate the fixed and variable cost under the high-low method, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (6,350 - 5,000) / (675 - 300)
Variable cost per unit= $3.6
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 6,350 - (3.6*675)
Fixed costs= $3,920
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 5,000 - (3.6*300)
Fixed costs= $3,920
Now, for 700 units:
Total cost= 3,920 + 3.6*700
Total cost= $6,440
Economies of scope A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation. B. arise only from strategic fit relationships in the production portions of the value chains of sister businesses. C. are more associated with unrelated diversification than related diversification. D. are present whenever diversification satisfies the attractiveness test and the cost-of-entry test. E. arise mainly from strategic fit relationships in the distribution portions of the value chains of unrelated businesses.
Answer:
A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Explanation:
Economies of scope occur when a good is manufactured, the cost of manufacturing a related goods is reduced. It means that there would be reduction in the cost of production of a goods as a result of increase in variety of goods. It is a situation whereby the cost of producing two products is less compare to when that product is produce separately.
It should be noted that economy of scope are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
On the last day of December 2016, Camreyâs Trucks entered into a transaction that resulted in a receipt of $216,000 cash in advance related to services that will be provided during January 2017. During December of 2016, the company also performed $128,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the companyâs trial balance showed service revenue of $1,165,470 at December 31, 2016. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts receivable from prior months were collected.If Camrey's trucks makes the appropirate adjusting entry, how much will service revenue will be reflected on the december 31, 2016 income statement?If Camrey's Trucks makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 Balance sheet as unearned revenue?If Camrey's turcks make the appropriate adjusting entry, how much will be reported on the December 31, 2017 Balance sheet as accounts receivable?
Answer:
A. $ 1,293,470
B. $216,000
C. $128,000
Explanation:
A. Calculation for how much service revenue will be reflected on the december 31, 2016 income statement
Service Revenue show on the Trial Blance = $1,165,470
Add: Services which were neither billed nor paid = $ 128,000
Service Revenue reflected in the Dec.,31 2016 income statement =$ 1,293,470
Therefore how much service revenue will be reflected on the december 31, 2016 income statement will be $ 1,293,470
B. Calculation for how much will be reported on the December 31, 2016 Balance sheet as unearned revenue
Based on the information given we were told
that the company entered into a transaction which had resulted in the company receiving the amount of $216,000 as a cash in advance On the last day of the month of December 2016 which is related to services that will be provided during the month of January 2017 which means that the amount of $216,000 will be the amount of cash to be reported on December 31, 2016 Balance sheet as unearned revenue.
C. Calculation for how much that will be reported on the December 31, 2017 Balance sheet as accounts receivable
Based on the information given we were told that the During the month of December of 2016, the company as well rendered a service of the amount of $128,000 in which the service rendered were neither billed nor paid which means that the amount of cash the company will report on December 31, 2017 Balance sheet as accounts receivable will be $128,000.
The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $880,000, and it would cost another $19,500 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $463,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $14,500. The sprayer would not change revenues, but it is expected to save the firm $330,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 25%. A. What is the Year 0 net cash flow?
B. What are the net operating cash flows in Years 1, 2, and 3?
C. What is the additional Year-3 cash flow (i.e., the after-tax salvage and the return of working capital)?
D. Based on your IRR analysis, if the projectâs cost of capital is 12%, should the machine be purchased?.
Answer:
A. -1118000 B. Y1=375612Y2=418521Y3= 304148 C. 803657 D. 26%
Explanation:
Managerial Finance.
A.) 0 Year Net Cash Flow = -1080000-22500-15500= -1118000
B.) Y1=375612
Y2=418521
Y3= 304148
C.) 60500 + (605000-81695) * (.35) + 15500 = 803657
D.) IRR put the value of Net Present Value (NPV) as 0
NPV= -1118000 +375612/(1+r)^1 + 418521/ (1+r)^2 + (304148) + 803657) / (1+r) ^ 3
we get 25.87 or 26%
Yes.
PLEASE HELP!!! I need to come up with a store that would be convenient in a high school. It can be one that sells food, etc.
What documents the scope of the project, identifies major tasks and resources and describes any interrelationships with other projects
Answer:
"Project initiation" is the correct approach.
Explanation:
The start including its project would be the very first stage of project management which determines project priorities, scope statement, development plan, associated risks, monitoring mechanisms, interrelationship with several other processes mentioned. A team is formed during this development of the company, and perhaps a business case becomes developed to describe the campaign in depth.The following information applies to the questions displayed below.]Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow:DirectLabor-Hoursper unit AnnualProductionRims 0.30 26,000 unitsPosts 0.50 70,000 unitsAdditional information about the company follows:Rims require $15 in direct materials per unit, and Posts require $11.The direct labor wage rate is $15 per hour.Rims are more complex to manufacture than Posts and they require special equipment.The ABC system has the following activity cost pools:Estimated ActivityActivity Cost Pool Activity Measure EstimatedOverheadCost Rims Posts TotalMachine setups Number of setups $ 32,900 60 140 200Special processing Machine-hours $114,800 4,000 0 4,000General factory Direct labor-hours $1,404,000 6,000 72,000 78,000c.A security guard patrols the company grounds after normal working hours.d.Purchase orders are issued for materials to be used in production.e.Modifications are made to product designs.f.New employees are hired by the personnel office.g.Machine settings are changed between batches of different products.h.Parts inventories are maintained in the storeroom. (Each product requires its own unique parts.)i. Insurance costs are incurred on theRequired:1. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)Activity Cost Pool Activity RateMachine setups per setupSpecial processing per MHGeneral factory per DLHcompanyâs2. Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)Unit product cost of Rims Unit product cost of Posts
Answer:
Please sew below and attached.
Explanation:
1. Compute the activity rate for each activity cost pool.
2. Determine the unit product cost of each product according to the ABC system.
•The unit product cost for RIMS = $28.45 , while the unit product cost for POSTS = $37.34
Please find attached detailed solution to the above .
Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 190 units $ 410 June 10 200 units 580 June 15 200 units 650 June 28 200 units 510 $2150 A physical count of merchandise inventory on June 30 reveals that there are 270 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
Answer:
Ending inventory cost= $642.4
Explanation:
Giving the following information:
Date Number of units purchased Total cost
June 1 190 units $ 410 ($2.16)
June 10 200 units 580 ($2.9)
June 15 200 units 650
June 28 200 units 510
Ending inventory in units= 270
To calculate the value of ending inventory under the LIFO (last-in, first-out), we need to use the cost of the firsts units incorporated into inventory.
Ending inventory cost= 190*2.16 + 80*2.9
Ending inventory cost= $642.4
A city keeps track of the number of new small businesses which open in any given year, as well as how many of those
new businesses report profit in excess of their initial investment after one year's time. An example of the data collected
can be viewed in the table below.
2000
Year
New
1998
781
1999
699
626
217
2001
730
264
2002
762
244
Profitable
311
205
If 684 new small businesses opened in 2003, approximately how many of them could be expected to turn a profit in
excess of their initial investment by 2004?
a 200
b. 236
c. 247
d. 272
Answer:
It's 236
Explanation:
Edge2020 ignore the other guy
Which of the following is a way to use credit responsibly? Question 1 options: Paying only the minimum payment each month Understanding the account's interest rate Opening several different credit accounts
Understanding the account's interest rate is a way to use credit responsibly. Thus, option C is correct.
What is credit?Credit can be defined as an agreement that is seen between two parties. According to this agreement, there is a lender and a borrower. The person who gives the money is called a lender whereas the person who takes the money is called as a borrower. They give the money on the basis of a time period and sometimes on an interest rate.
To understand credit and its responsibilities by calculating and understanding what will be the monthly interest rate at which the money is being borrowed.
This represents the monthly payment the Lander has to be given. This will include the borrower's monthly payment of interest as well as the initial amount.
Therefore, option C is the correct option.
Learn more about credit, here:
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Metlock Inc. wishes to accumulate $1,380,000 by December 31, 2027, to retire bonds outstanding. The company deposits $200,000 on December 31, 2017, which will earn interest at 6% compounded quarterly, to help in the retirement of this debt. In addition, the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that $1,380,000 is available at the end of 2027. (The quarterly deposits will also earn at a rate of 6%, compounded quarterly.)
Answer:
Quarterly deposit= $18,743.98
Explanation:
i= 0.06/4= 0.015
n= 10*4= 40
First, we need to determine the future value of the $200,000 using the following formula:
FV= PV*(1+i)^n
FV= 200,000*1.015^40
FV= $362,803.68
Now, we calculate the quarterly deposit to cover for the difference:
Difference= 1,380,000 - 362,803.68= $1,017,196.32
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,017,196.32*0.015) / [(1.015^40) - 1]
A= $18,743.98
Accounting for Operating Activities in a New Business (the Accounting Cycle)
Penny’s Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first year’s busiest quarter ended September 30, 2013:
a. Placed and paid for $2,600 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter.
b. Cleaned pools for customers for $19,200, receiving $16,000 in cash with the rest owed by customers who will pay when billed in October.
c. Paid Pool Corporation, Inc., a pool supply wholesaler, $10,600 for inventory received by PPSS in May.
d. As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year’s pool cleaning service. PPSS received $10,000 from customers who took advantage of the discount.
e. Paid the office receptionist $4,500, with $1,500 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter’s amount was recorded as an expense and a liability Wages Payable.
f. Had the company van repaired, paying $310 to the mechanic.
g. Paid $220 for phone, water, and electric utilities used during the quarter.
h. Received $75 cash in interest earned during the current quarter on short-term investments.
i. Received a property tax bill for $600 for use of the land and building in the quarter; the bill will be paid next quarter.
j. Paid $2,400 for the next quarter’s insurance coverage.
Required:
1. For each of the events, prepare journal entries, checking that debits equal credits.
2. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30, 2013.
3. Calculate the net profit margin ratio at September 30, 2013 (using income before taxes in place of net income). What does this ratio indicate about the ability of PPSS to control operations?
1. Journal Entries for the events in Quarter ending September 30, 2013:
a. Debit Advertising Expense $2,600
Credit Cash $2,600
b. Debit Cash $16,000
Debit Accounts Receivable $3,200
Credit Service Revenue $19,200
c. Debit Accounts Payable (Pool Corporation) $10,600
Credit Cash $10,600
d. Debit Cash $10,000
Credit Unearned Service Revenue $10,000
e. Debit Wages Expense $3,000
Debit Wages Payable $1,500
Credit Cash $4,500
f. Debit Vehicle Repairs Expense $310
Credit Cash $310
g. Debit Utilities Expense $220
Credit Cash $220
h. Debit Cash $75
Credit Interest Revenue $75
i. Debit Property tax expense $600
Credit Property tax Payable $600
j. Debit Prepaid Insurance $2,400
Credit Cash $2,400
2. Classified Income Statement for the Quarter ended September 30, 2013:
Service Revenue $19,200
Advertising Expense $2,600
Wages Expense 3,000
Vehicle Repairs Expense 310
Utilities Expense 220
Property tax Expense 600 $6,730
Income from operations $12,470
Interest Revenue $75
Income before taxes $12,545
3. The net profit margin ratio = 64.95% ($12,470/$19,200 x 100)
3b. This ratio shows that PPSS is able to control the costs of its operations in such a way that it could convert as much as 65% income from its service revenue.
Data Analysis:
a. Advertising Expense $2,600 Cash $2,600
b. Cash $16,000 Accounts Receivable $3,200 Service Revenue $19,200
c. Accounts Payable (Pool Corporation) $10,600 Cash $10,600
d. Cash $10,000 Unearned Service Revenue $10,000
e. Wages Expense $3,000 Wages Payable $1,500 Cash $4,500
f. Vehicle Repairs Expense $310 Cash $310
g. Utilities Expense $220 Cash $220
h. Cash $75 Interest Revenue $75
i. Property tax expense $600 Property tax Payable $600
j. Prepaid Insurance $2,400 Cash $2,400
Learn more about calculating net profit margin at https://brainly.com/question/22024991
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable $ 10,100 Supplies inventory $ 4,600 Equipment $ 44,000 Accumulated depreciation $ 17,800 Accounts payable $ 3,800 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.
Answer:
Mecca Copy
Budgeted Balance Sheet
Ending Balances Cash $22,300
Accounts receivable $ 10,100
Supplies inventory $ 4,600
Equipment $ 44,000
Accumulated depreciation $ 17,800 $26,200
Total Assets $63,200
Accounts payable $ 3,800
Common stock $ 5,000
Retained earnings $54,400
Total Liabilities + Stockholders' Equity $63,200
Explanation:
a) Data and Calculations:
Ending Balances Cash ?
Accounts receivable $ 10,100
Supplies inventory $ 4,600
Equipment $ 44,000
Accumulated depreciation $ 17,800 $26,200
Total Assets $
Accounts payable $ 3,800
Common stock $ 5,000
Retained earnings ?
Beginning Retained Earnings = $37,000
Net Income = 21,700
Dividends = (4,300)
Ending Retained Earnings = $54,400
Cash = Total assets - Accounts receivable - Inventory - Equipment