Answer:
In 2020 because a check received IS considered a cash equivalent and a cash basis taxpayer must recognize the income when the check is RECEIVED.
Explanation:
Checks are basically cash, that is why you record a cash disbursement once you issue a check, not when the check is cashed. Once a check has been issued or received, a cash transaction has been made. A cash basis taxpayer must record revenue when it collects it, and collecting a check is equivalent to collecting cash.
A firm is considering purchasing two assets. Asset A will have a useful life of 15 years and cost $3 million; it will have installation costs of $400,000 but no salvage or residual value. Asset B will have a useful life of 6 years and cost $1.3 million; it will have installation costs of $180,000 and a salvage or residual value of $300,000. Which asset will have a greater annual straight-line depreciation
Answer:
Asset A provides a greater annual depreciation.
Explanation:
Giving the following information:
Asset A:
Useful life= 15 years
Purchase price= 3,000,000 + 400,000= 3,400,000
Salvage value= 0
Asset B:
Useful life= 6 years
Purchase price= 1,300,000 + 180,000= 1,480,000
Salvage value= 300,000
To calculate the depreciation expense, we need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Asset A:
Annual depreciation= 3,400,000/15= $226,666.67
Asset B:
Annual depreciation= (1,480,000 - 300,000) / 6
Annual depreciation= $196,666.67
Asset A provides a greater annual depreciation.
Which one of the following taxes are NOT a mandatory, or
required deduction from your paycheck?
Federal Income Tax
O Retirement Savings
O State Income Tax
O FICA
State Income Tax can be deducted from paycheck.
State Income Tax are NOT a mandatory, or required deduction from your paycheck. Thus, its C.
What is State Income Tax?The majority of U.S. states also levy a state income tax in addition to the federal income tax that the nation as a whole collects. Several municipal governments also charge an income tax, frequently based on calculations made for the state income tax.
Individuals are subject to income taxes in 42 states and several localities in the US. A ninth state, New Hampshire, levies an income tax on individuals on dividend and investment income but not on other types of income.
Eight states have no state income tax. The income of companies is taxed by 47 states and numerous cities.
A fixed or graduated rate of state income tax is levied on the taxable income of individuals, businesses, and certain charities and trusts. Both the state and entity type tax rates are different.
Learn more about State Income Tax, here
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4)
What is a rational economic decision?
A)
One in which there are no opportunity costs.
One in which marginal benefits exceed marginal costs.
One in which marginal costs exceed marginal benefits.
D)
One in which the benefits are unknown, but costs are low.
Answer:
One in which marginal benefits exceed marginal costs.
Explanation:
A ration decision implies a sensible or reasonable decision. A rational economic decision has undergone the process of comparing costs and benefits to determine the best option. A rational decision benefits outweigh or are equal to its costs.
Marginal benefit is the additional gain associated with the production or sale of one more unit, while the marginal cost is the expense of making or selling an extra product. A ration decision will have marginal benefit exceed or equal to marginal cost.
PLEASE HELP!!! I need to come up with a unique store that would be convenient in a high school. It can be one that sells food, etc.
BitcoinLotto:
Suppose the nation of Bitcoinia has decided to convert its national lottery to use Bitcoin. A trusted scratch-off ticket printing factory exists and will not keep records of any values printed. Bitcoinia proposes a simple design: a weekly run of tickets is printed with an address holding the jackpot on each ticket. This allows everybody to verify the jackpot exists.
The winning ticket contains the correct private key under the scratch material.
7.1. What might happen if the winner finds the ticket on Monday and immediately claims the jackpot? Can you modify your design to ensure this won’t be an issue?
7.2. Some tickets inevitably get lost or destroyed. So you’d like to modify the design to roll forward any unclaimed jackpot from Week n to the winner in Week n+1 .
Can you propose a design that works, without letting the lottery administrators embezzle funds? Also make sure that the Week n winner can’t simply wait until the beginning of Week n+1 to attempt to double their winnings.
Answer and Explanation:
1.Since we only want the winnings claimed by the end if the week, we would have to make sure the keys on the tickets are not activated until the end of the week, also verification of winnings occur by end of the week. This way someone cannot immediately unlock their bitcoin on a Monday but may just scratch the ticket.
2. Bitcoin wallets cannot be unlocked without the private key and so there is no other option when ticket is lost as bitcoin cannot be retrieved. Therefore it is important that tickets are secured properly during production and after when issued to contestants
The tickets are available to anybody. However, scratching should be permitted on the last day of the week, which is Saturday.
If any tickets are lost or destroyed, there is no method to recover the bitcoin due to the current bitcoin nature.
Bitcoin and ticket:The key to release the bitcoin should be date-protected and triggered on the week's last working day. So, even if someone buys a ticket on Monday and attempts to unlock it right away, he won't be able to till the end of the week. Fairness can be achieved in this manner.
The only method to avoid this is to protect the printing so that it cannot be stolen or destroyed during the ticket making process.
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The Aggie Graphics Company was organized on January 1, 2017.The trial balance before adjustment at December 31, 2017 contained the following account balances:Cash $9,500 Accounts Receivable 4,000 Prepaid Insurance 1,800 Equipment 45,000 Accumulated Depreciation 4,500Accounts Payable 3,500Notes Payable 18,000Common Stock 5,000Retained Earnings 12,000Dividend 2,000 Graphic Fees Earned 52,100Consulting Fees Earned 5,000Salaries Expense 30,000 Supplies Expense 2,700 Advertising Expense 1,900 Rent Expense 1,500 Utilities Expense 1,700 $100,100 $100,100Analysis reveals the following additional data: (Assume the books are only closed at year end)(A) The $2,700 balance in Supplies Expense represents supplies purchased in January. At December 31, there was $1,200 of supplies on hand.(B) The note payable was issued on September 1. It is a 3% 6-month note.(C) The balance in Prepaid Insurance is the premium paid on a one-year policy, dated March 1, 2017.(D) Consulting Fees are credited to revenue when received. At December 31, consulting fees of $1,000 contracted for January, 2017 have yet to be performed.(E) The equipment was purchased on January 1, 2017. It has a 10-year useful life and no salvage value.The entry to record (A) above would include a debit to: (Assume the company is only making one adjusting entry to record this information)A. Supplies for $1,500B. Supplies for $1,200C. Supply Expense for $1,200D. Prepaid Supply Expense for $2,7001 points QUESTION 2What is the balance in the interest payable account after adjustment?A. $ 45B. $180C. $90D. $2701 points QUESTION 3The correct entry to record (E) above is:A. Depreciation Expense 4,500Accumulated Depreciation 4,500B. Depreciation Expense 9,000Accumulated Depreciation 9,000C. Depreciation Expense 9,000Equipment 9,000D. Depreciation Expense 9,000Accumulated Depreciation 4,500Equipment 4,500
Answer: 1. B. Supplies for $1,200
2. $180
3. A. Depreciation Expense 4,500
Accumulated Depreciation 4,500.
Explanation:
• 1: The entry to record (A) above would include a debit to supplies for $1,200. It should be noted that all the supplies that were recorded by the company in January were recorded as supply expenses and supplied in hand were $1200 as at December 31st. This will be shown in the balance sheet as the supplies expenses will be reduced by $1200 which means supplies will be debited.
•2: The balance in the interest payable account after adjustment will be:
= $18,000 × 3% × 4/12
= $18000 × 0.03 × 1/3
= 180
Note that 4months out of 12 months was used as notes were issued on September 1 which is 4 months till December.
• 3: The correct entry to record (E) above is:
A. Depreciation Expense 4,500
Accumulated Depreciation 4,500
According to Herzberg, a major difference between motivator and hygiene factors includes: Select one: a. motivators are controlled by supervisors and hygienes are contained within the job b. hygiene factors allow self-actualization when present whereas motivation factors can only be activated when pay and benefits are acceptable c. hygiene factors deal with personal appearance and motivators concern negative aspects of the job environment d. motivators deal with job characteristics that are intrinsic to the job and hygiene factors deal with characteristics of the work environment or factors extrinsic to the job
Answer:
d. motivators deal with job characteristics that are intrinsic to the job and hygiene factors deal with characteristics of the work environment or factors extrinsic to the job
Explanation:
According to Herzberg's theory, heigene and motivators are the two crucial factors factors that determine job satisfaction as well as job dissatisfaction. Motivators provide positive satisfaction from the real nature condition of the job i.e the intrinsic factors. Theses intrinsic could be from recognition as well as achievement. These Motivators could be from rewards for one's achievement, making ones has part of people making decisions, making one as an important entity in the company.
On the other hand hygiene factors
could be as a result of organizational policies as well as supervision. Another factor is relationships with other employees. It should be noted that a major difference between motivator and hygiene factors includes motivators deal with job characteristics that are intrinsic to the job and hygiene factors deal with characteristics of the work environment or factors extrinsic to the job.
You are considering investing in a zero-coupon bond that will pay you its face value of $1,000 in eight years. If the bond is currently selling for $540.27, then the internal rate of return (IRR) for investing in this bond is closest to:
A. 7.0%
B. 8.0%
C. 9.1%
D. 10.2%
The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials . $15,000
Indirect labor . 130,000
Property taxes, factory .8,000
Utilities, factory .70,000
Depreciation, factory .240,000
Insurance, factory .10,000
Total actual manufacturing overhead costs incurred $473,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) - $400,000
Direct labor costs - $60,000
Inventories:
Raw materials, beginning - $20,000
Raw materials, ending - $30,000
Work in process, beginning - $40,000
Work in process, ending - $70,000
Manufacturing Overhead
Actual Overhead Applied Overhead
$473,000 $485,000
$12,000 was overapplied
HELP WITH THIS:
Prepare a schedule of cost of goods manufactured for the year.
Answer:
cost of goods manufactured= $890,000
Explanation:
Giving the following information:
Applied Overhead= $485,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) - $400,000
Direct labor costs - $60,000
Inventories:
Raw materials, beginning - $20,000
Raw materials, ending - $30,000
Work in process, beginning - $40,000
Work in process, ending - $70,000
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 20,000 + (400,000 - 15,000) - 30,000
Direct material used= 375,000
I deduct the indirect material included in manufacturing overhead.
cost of goods manufactured= 40,000 + 375,000 + 60,000 + 485,000 - 70,000
cost of goods manufactured= $890,000
John's Repair Shop has a monthly target operating income of $30,000. Variable expenses are 40% of sales, and monthly fixed expenses are $7,500. Read the requirementsLOADING.... Requirement 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. Begin by identifying the formula to compute the margin of safety. Target sales in dollars - Breakeven sales in dollars = Margin of safety in dollars (Round intermediate calculations up to the nearest whole dollar and your final answer to the nearest whole dollar.) The margin of safety is .
Answer:
$50,000
Explanation:
To calculate the margin of safety we need to calculate the break-even sales revenue first after calculating break-even sales revenue we will deduct that from the total sales revenue.
Total Sales Revenue = $62,500
Break-Even Sales Revenue = $12,500
Margin of Safety in Dollars = $50,000
Working
Target Income $30000
Fixed expenses $7500
Contribution margin $37500
If Variable cost 40% of the sale Contribution margin will be 60% of the sale
Total target Sales Revenue [37500 / 60%] = $62500
Fixed expenses $7500
Contribution margin ratio 60%
Break-Even Sale [7500/60%] $12500
The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.Equivalent Units of Production Direct Materials ConversionUnits transferred out 39,500 EUP 39,500 EUPUnits of ending work in process 4,000 EUP 2,400 EUPEquivalent units of production 43,500 EUP 41,900 EUPCosts per EUP Direct Materials ConversionCosts of beginning work in process$ 37,650 $ 4,620 Costs incurred this period 480,000 271,920 Total costs $ 517,650 $ 276,540 Units in beginning work in process (all completed during July) 3,500Units started this period 40,000Units completed and transferred out 39,500Units in ending work in process 4,000Prepare its process cost summary using the FIFO method.
Answer:
1. Total costs to account for $ 794,190
2.Total units to account for 43,500
Total units accounted for 43,500
3.Total Equivalent units of production
Material 40,000
Conversion 41,200
4.Cost per EUP
Material $ 12
Conversion $ 6.6
5. COST ASSIGNMENT AND RECONCILIATION
Total costs accounted for $794,190
Explanation:
Preparation of its process cost summary using the FIFO method.
1. Costs Charged to Production:
Costs of beginning work in process:
Direct materials $ 37,650
Conversion $ 4,620
$ 42,270
Costs incurred this period:
Direct materials $ 480,000
Conversion $ 271,920
$ 751,920
Total costs to account for $ 794,190
(751,920+42,270)
2 . UNITS COST INFORMATION
Units to ACCOUNT FOR
Beginning work in process 3,500
Units started this period 40,000
Total units to account for 43,500
Units ACCOUNTED FOR
Completed & transferred out 39,500
Ending work in process 4,000
Total units accounted for 43,500
3. DIRECT MATERIAL
Equivalent units of production:
Units to complete beginning WIP:
Direct materials 3,500*0% 0
Units started and completed
Direct materials (39,500-3,500) 36,000 Units of ending work in process:
Direct materials 4,000
Total Equivalent units of production 40,000
(36,000+4,000)
CONVERSION
Equivalent units of production:
Units to complete beginning WIP:
Conversion 3,500*80% 2,800
Units started and completed
Conversion (39,500-3,500) 36,000
Units of ending work in process:
Conversion 2,400
Total Equivalent units of production 41,200
(2,800+36,000+2,400)
4. Direct Materials Conversion
COST PER EUP
Costs incurred this period
$ 480 000 $ 271,920
÷EUP (from prior page)
40,000 41,200
=Cost per EUP $ 12 $ 6.6
5. COST ASSIGNMENT AND RECONCILIATION
Costs transferred out:
Cost of beginning work in process $ 42,270
Cost to complete beginning work in process:
Direct materials (0 EUP x $12 per EUP) $0
Conversion (2,800 EUP x $6.60 per EUP) $ 18,480
Total $18,480
Costs of units started and completed this period:
Direct materials (36,000 EUP x $12 per EUP) $ 432,000
Conversion (36,000 EUP x $6.60 per EUP) $ 237,600 $ Total $669,600
Total cost of work finished this period $ 688,080
( 669,600+ 18,480)
Costs of ending work in process:
Direct materials (4,000 EUP x $12 per EUP) $ 48,000
Conversion (2,400 EUP x $6.60 per EUP) $ 15,840 $ Total $63,840
Total costs accounted for $794,190
(42,270$ 688,080+63,840)
is when third parties reap the benefit of a good or service for which they did not pay. A Government resource B. Positive externality C Consumer reaction D. Negative externality Please select the best answer from the choices provided OA B OC D
Answer:
B. Positive externality
Explanation:
An externality is a benefit or a detriment to a third party created by the production or consumption of goods or services. A third party is everybody else other than the producer or consumer of a product. An externality is either positive or negative.
A positive externality is when consumption or production creates a benefit to a third party. The third-party does not meet the cost of products but indirectly enjoys its production.
Answer:
B. Positive externality
Explanation:
EDGE 2021
In the maturity stage of the product life cycle_________________________. companies typically don't advertise at all since brands are well known by consumers by now competition is very intense and many companies use price promotions extensively to win over competitors' customers profit margins are typically increasing at a high rate advertising focuses on educating consumers on how to use a product companies are not making any money at all
Answer:
By now competition is very intense and many companies use price promotion s to extensively win over competitors customers
Explanation:
There are five stages in the life cycle of any product. One of them is the maturity stage.
At this stage, competitors cause a reduction in profit due to price competition and firms are forced to spend a lot of money on advertising to sustain brand loyalty.
Some companies that can not survive the competition may be forced to leave the market.
In an effort to decrease the amount of industrial waste generated during production, Cerise wanted her company to use a new machine designed by one of the employees. She felt that the new machine could also bring down the company's costs. She tried to convince her supervisor and higher authorities to provide the resources needed to build and install the machine on a large scale. Cerise's role is that of a(n)
Answer:
C. product champion.
Explanation:
These are The options for the question
A. executive champion.
B. category captain.
C. product champion.
D. technical innovator.
We are told about an effort to decrease the amount of industrial waste generated during production,
and how Cerisee wanted her company to use a new machine designed by one of the employees. She felt that the new machine could also bring down the company's costs. She tried to convince her supervisor and higher authorities to provide the resources needed to build and install the machine on a large scale.
In this case , the Cerise's role is that of a product champion. product champion in an organization can be attributed to new product development in systematic approach as well as innovation. They gear up investors in investing or individual/firms to make decisions in selling as well as promotion of products.
Which of the following statements is NOT CORRECT? a. Sunk costs are the costs associated with "the road not taken". They represent the alternative cost of an asset if that asset were not already owned by the firm; therefore, these costs should be included in the capital budgeting analysis. b. Opportunity costs and sunk costs are tricky when analyzing capital budgeting projects. In summary, for a correct capital budgeting analysis, opportunity costs must be included in the analysis while sunk costs should be ignored—the money is gone whether the project is undertaken or not. c. Sunk costs are cash outlays a company has made in the past, and they can't be recovered whether the new project goes forward or not. Thus, you don't include these costs in the project's capital budgeting analysis. d. An opportunity cost represents the best return a company could get on an asset it already owns. It is the cost of losing out on something if you greenlight the project, so you want to include this cost in the capital budgeting analysis. e. While an opportunity cost is not an actual cash outlay, this cost must be added to the project's costs when you calculate its net present value.
Answer:
A
Explanation:
Sunk cost is cost that has already been incurred and cannot be recovered. It should not be considered in making future decisions.
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives. Opportunity costs are costs associated with "the road not taken".
An example of opportunity cost : you quit your job where you ern $50,000 to start your business. the opportunity cost of starting your business is $50,000 - your salary that you would be forgoing to start your business
Compare the monthly payments and total loan costs for the following pairs of loan options. Assume that both loans are fixed rate and have the same closing costs. You need a $ loan. Option 1: a 30-year loan at an APR of %. Option 2: a 15-year loan at an APR of %. Find the monthly payment for each option. The monthly payment for option 1 is $ nothing. The monthly payment for option 2 is $ nothing
Answer:
The numbers are missing, so I looked for similar questions to fill in the blanks:
You need a $300,000 loan. Option 1: a 30-year loan at an APR of 6%. Option 2: a 15-year loan at an APR of 4.5%.
We can use the present value of an annuity formula to calculate monthly payments.
present value = monthly payment x PV annuity factor
monthly payment = present value / PV annuity factor
present value = $300,000
option 1: PV annuity factor, 0.5%, 360 periods = 166.79161
option 2: PV annuity factor, 0.375%, 180 periods = 130.7201
monthly payment option 1 = $300,000 / 166.79161 = $1,798.65
monthly payment option 2 = $300,000 / 130.7201 = $2,294.98
Usage rate is Multiple Choice the percentage of total possible users divided by the total number of consumers who actually use a product or service. the number of times a customer uses or recommends a product or service annually. quantity consumed or patronage (store visits) during a specific period. the maximum number of times a customer has used a product or service historically. the profits a firm earns from customers who consume a particular product or service.
Answer:
Usage Rate
The usage rate is:
quantity consumed or patronage (store visits) during a specific period.
Explanation:
The usage rate is all about the quantity of an item consumed by a customer within a period of time. It is an index for gauging a consumer's patronage of a product or service. This rate is usually expressed as a percentage and guides marketing and sales managers in their integrated marketing communications with the customer.
Which is the opposite of -5?
5
15
−15
-5
Answer:
5
Explanation:
because on a number line on the opposite side of -5, it's 5.
The following data refers to Huron Corporation for the year 20x2.
Sales revenue .......................................................................................$2,105,000
Raw-material Inventory, 12/31/x1 ................................................................ 89,000
Purchases of raw material in 20x2 ............................................................. 731,000
Raw-material inventory, 12/31/x2 ..................................................................59,000
Direct-labor cost incurred ........................................................................... 474,000
Selling and administrative expenses ............................................................269,000
Indirect labor cost Incurred ...........................................................................150,000
Property taxes on factory ................................................................................90,000
Depreciation on factory building ....................................................................125,000
Income tax expense ........................................................................................25,000
Indirect material used ..................................................................................... 45,000
Depreciation on factory equipment ................................................................. 60,000
Insurance on factory and equipment ..............................................................40,000
Utilities for factory ...........................................................................................70,000
Work-In-process Inventory, 12/31/x1 ............................................................... -0-
Work-In-process inventory, 12/3/x2 .................................................................40000
Finished goods inventory, 12/31/xl .................................................................35,000
Finished-goods inventory, 12/31/x2 ................................................................40,000
Applied manufacturing overhead ................................................................. 577,500
Required:
1. Prepare Huronâs schedule of cost of goods manufactured for 20x2.
2. Prepare the companyâs schedule of cost of goods sold for 20x2. The company closes over applied or under applied overhead into Cost of Goods Sold.
3. Prepare the companyâs income statement for 20x2.
Answer:
1. schedule of cost of goods manufactured for 20x2
Beginning Work In Process Inventory $ 0
Direct Materials ($89,000 + $731,000 - $59,000 - $45,000) $716,000
Direct Labor $474,000
Applied manufacturing overhead $577,500
Less Ending Work In Process Inventory ($40,000)
cost of goods manufactured $1,727,500
2. schedule of cost of goods sold for 20x2.
Beginning Finished goods inventory $35,000
Add cost of goods manufactured $1,727,500
Less Ending Finished goods inventory ($40,000)
Cost of Goods Sold $1,722,500
Adjustment :
Less Under-applied Overheads ($2,500)
Adjusted Cost of Goods Sold $1,720,000
3. income statement for 20x2.
Sales revenue $2,105,000
Less Cost of Goods Sold ($1,720,000)
Gross Profit $385,000
Less Expenses :
Selling and administrative expenses ($269,000)
Net Profit Before tax $116,000
Income tax expense ($25,000)
Net Income after tax $91,000
Explanation:
Calculation of Actual Overheads Incurred
Indirect labor $150,000
Property taxes on factory $90,000
Depreciation on factory building $125,000
Indirect material used $45,000
Depreciation on factory equipment $60,000
Insurance on factory and equipment $40,000
Utilities for factory $70,000
Actual Overheads Incurred $580,000
Now,
Where Applied Overheads is $577,500 and Actual Overheads is $580,000, we have an underapplied situation of $2,500 ($580,000 - $577,500).
This under-applied amount is closed off to the cost of goods sold.
1. Computation of the cost of goods manufactured for 20x2
Direct Materials = Beginning Raw-material Inventory + Purchases of raw material - Closing Raw-material inventory - Indirect material used
Direct Materials = $89,000 + $731,000 - $59,000 - $45,000
Direct Materials = $716,000
Particulars Amount
Beginning Work In Process Inventory $0
Add: Direct Materials $716,000
Add: Direct Labor $474,000
Add: Applied manufacturing overhead $577,500
Less: Ending Work In Process Inventory ($40,000)
Cost of goods manufactured $1,727,500
2 .Computation of the cost of goods sold for 20x2
Actual Overheads Incurred = Indirect labor + Property taxes on factory + Depreciation on factory building + Indirect material used + Depreciation on factory equipment + Insurance on factory and equipment + Utilities for factory
Actual Overheads Incurred = $150,000 + $90,000 + $125,000 + $45,000 + $60,000 + $40,000 + $70,000
Actual Overheads Incurred = $580,000
Here, since the Applied Overheads is $577,500 and the Actual Overheads is $580,000, then, we have an under-applied value of $2,500 ($580,000 - $577,500)
Particulars Amount
Beginning Finished goods inventory $35,000
Add: Cost of goods manufactured $1,727,500
Less: Ending Finished goods inventory ($40,000)
Cost of Goods Sold $1,722,500
Adjustment of Cost of Goods Sold
Cost of Goods Sold $1,722,500
Less: Under-applied Overheads ($2,500)
Adjusted Cost of Goods Sold $1,720,000
3. Computation of the income statement for 20x2.
Particulars Amount
Sales revenue $2,105,000
Less: Cost of Goods Sold ($1,720,000
Gross Profit $385,000
Less: Selling and administrative expenses ($269,000)
Net Profit Before tax $116,000
Less: Income tax expense ($25,000)
Net Income after tax $91,000
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Suppose that Clancy, an economist from a university in Arizona, and Eileen, an economist from a public television program, are arguing over saving incentives. The following dialogue shows an excerpt from their debate: Eileen: I think it's safe to say that, in general, the savings rate of households in today's economy is much lower than it really needs to be to sustain an improvement in living standards. Clancy: I think a switch from the income tax to a consumption tax would bring growth in living standards. Eileen: You really think households would change their saving behavior enough in response to this to make a difference? Because I don't. The disagreement between these economists is most likely due to . Despite their differences, with which proposition are two economists chosen at random most likely to agree? Lawyers make up an excessive percentage of elected officials. Tariffs and import quotas generally reduce economic welfare. Minimum wage laws do more to harm low-skilled workers than help them.
Answer:
1. The disagreement between these economists is most likely due to .
scientific judgments.
2. Two economists chosen at random most likely are likely to agree on:
Lawyers make up an excessive percentage of elected officials.
Explanation:
Economists will disagree with each other regarding the appropriate size of the government, the power of trade unions, the adverse effects of unemployment and inflation, the equitable distribution of income, and whether a policy of tax cut is desirable or not. When economists disagree due to differences in scientific judgments, they disagree about a factual matter: the type of tax policy that would lower the budget deficit. In contrast, disagreements due to the differences in values reflect differing assessments on fairness or equity.
You work for an electronics store that is preparing for a special event to
celebrate the launch of a new game system. You will have demonstration
models set up for shoppers to try out games on the system. How can your
store use social media to prepare for this event?
A. By scheduling enough employees to work on the event day
B. By posting messages about the chance to try the new system
C. By getting permits required by the city or other local government
D. By posting messages about when employees need to be at work
Answer:
It’s B. For Apex - By posting messages about the chance to try the new system
Explanation Answered on apex
For stores, the use of social media for doing the necessary preparations for an event is by posting messages about the chance to try the new system. Hence, Option B is correct.
What is social media?On the internet, a platform is available which is called social media. This is the media, which is in electronic form, where people come together to share thoughts about a particular topic.
In the case of electronic stores which are preparing for a special event so that they can celebrate the launch of a new game system, they can make use of social media by utilising it as a platform for doing the necessary preparation.
They can do this by posting messages on social media about the chance opportunity for those who want to try out this new system. They can put up a video with him demonstrating the model so that it can attract shoppers for that system.
Therefore, Option B is correct.
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Illinois Furniture, Inc., produces all types of office furniture. The "Executive Secretary" is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for $130. There are minutes available during the day, and the average daily demand has been chairs. There are eight tasks: Task Performance Time (mins) Task Must Follow Task Listed Below A B C A, B D C E D F E G E H F, G This exercise only contains parts b, c, d, e, f, and g. b) The cycle time for the production of a chair = 9.23 minutes (round your response to two decimal places). c) The theoretical minimum number of workstations 6 (round your response up to the next whole number). d) The assignment of tasks to workstations should be: (Hint: Number workstations sequentially in terms of precedence relationships and combine any applicable tasks.) Task Workstation Number A Station 1 B Station 2 C Station 3 D Station 4 E Station 5 F Station 6 G Station 7 H Station 8 Were you able to assign all the tasks to the theoretical minimum number of workstations? No e) For this process, the total idle time per cycle = nothing minutes (enter your response as a whole number).
Answer:
hello your question is incomplete attached below is the missing table to your question
Illinois Furniture, Inc., produces all types of office furniture. The "Executive Secretary" is a chair that has been designed using ergonomics to provide comfort during long work hours. The chair sells for $130. There are 480 minutes available during the day, and the average daily demand has been 50 chairs. There are eight tasks
answer : a) 9.6 minutes
b) 5 work stations
c) choose initial task and task with maximum task time
d) 21 minutes
Explanation:
A) cycle time for the production of a chair
cycle time = (production time available per day ) / ( unit demand per day )
= 480 minutes / 50 chairs
= 9.6 minutes ≈ 10 minutes
B) theoretical minimum number of workstations
= Total task / cycle time
where total task = (4 + 7 + 6 + 5 + 6 + 7 + 8 + 6 ) = 49 minutes
cycle time = 9.6 minutes
hence theoretical minimum number of workstations = 49 / 9.6 = 5.1
≈ 5 workstations
C ) Assignment of tasks to workstations
attached below
you will choose the initial/first task and also the task with maximum tax time
D) For the process the total idle time per cycle
total idle time = summation of all idle times for the 8 tasks = 21 minutes
Task A, C = 0 minutes
Task B = 3 minutes
Task E = 4 MINUTES
Task F = 3
Task G = 2
Task H = 4
Task D = 5
A business owner will have to decide how selecting one thing over another will impact the business. This is an example of _____.
fixed costs
opportunity costs
variable costs
none of the above
Answer:
opportunity costs
Explanation:
Opportunity cost is the benefit sacrificed as a result of preferring one option over the other. Opportunity cost is an economic concept applied in decisions making. It entails considering the gains to be missed by not selecting a particular option. The advantage of the next best alternative to the preferred option is the opportunity cost.
For the businessman, deciding one thing over the other means sacrificing one of them. Analyzing the impact of the foregone benefits is considering the opportunity cost.
Answer:
Opportunity costs
Explanation:
EDGE 2021 Entreprenuership :D
NU YU announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $.59 a share. The following dividends will be $.64, $.79, and $1.09 a share annually for the following three years, respectively. After that, dividends are projected to increase by 3.9 percent per year. How much are you willing to pay today to buy one share of this stock if your desired rate of return is 13 percent? Multiple Choice $9.87 $12.45 $2.47 $13.04 $12.93
Answer:
$9.87
Explanation:
The first step is to find the present value of the dividend in the first stage
Present value can be found using a financial calculator
D1 = $.59
D2 = $.64
D3 = $.79
D4 = $1.09
I = 13%
Present value = $2.24
value in the stage of indefinite growth = $1.09(1.039) / (0.13 - 0.039) = 1.132510 / 0.091 = 12.45
Present vale of the stage of indefinite growth = 12.45 / 1.13^4 = 7.64
$7.64 + $2.24 = $9.87
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Fixed costs are _____.
costs that increase regardless of how much of a good or service is produced
costs that stay the same regardless of how much of a good or service is produced
costs that decrease regardless of how much of a good or service is produced
none of the above
Answer:
costs that stay the same regardless of how much of a good or service is produced
Explanation:
In the short run, fixed costs are the expenses that do not change regardless of the output level. In other words, fixed costs remain a constant amount throughout the financial period. Examples of fixed costs include rent, administrative salaries, insurance, and loan repayments. These amounts will be the same irrespective of production levels.
Fixed costs contrast with variable costs that vary depending on the output level.
What is financial risk?
Answer:
what are the options? then ill reply with an answer.
Financial risk refers to your business' ability to manage your debt and fulfil your financial obligations. This type of risk typically arises due to instabilities, losses in the financial market or movements in stock prices, currencies, interest rates, etc.
Example-Risks include external events and activities, such as natural disasters or disease breakouts leading to employee health issues.
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(Answered by Benjemin)
8. The goal of Full Employment provides
as many jobs as possible
more money for economic output
more tax revenue for the government
all of the above
Answer:
all of the above
Explanation:
Full employment is a macroeconomic objective that targets to have all available labor resources employed most efficiently. In a full-employment situation, there is a zero or very low unemployment rate. In reality, a 3 to 4 percent unemployment rate is considered full employment.
some of the benefits of pursuing full employment include
Improved living standards: Employment moves people from zero to at least the minimum income, thereby improving their living standards.Widen tax base: Government can collect more taxes with a larger number of employed people.Increase income: with increased incomes, there is increased consumption in the economy. The multiplier effect of increased spending is more job opportunities and higher earnings.Full employment relieves the government from the burdens of social support.It improves equity in wealth distribution.Which term describes the reliance of different functional areas upon each other? O A. Interpretation B. Independence O C. Inclination D. Interdependence
Answer:
D. Interdependence
Explanation:
Interdependence is a condition of mutual dependence among people or things. It is a situation where two or more individuals, companies, or countries rely on one another in various aspects. A state where multiple parties depend on each other to thrive.
When different functions or departments depend on each other to succeed, they are said to be interdependent. It implies that a function is likely to fail if it opts to operate on its own.
Black Cat Corporation manufactures a product with the following full unit costs at a volume of 4,000 units: Direct materials $200 Direct labor 80 Manufacturing overhead (30% variable) 150 Selling expenses (50% variable) 50 Administrative expenses (10% variable) 80 Total per unit $560 A company recently approached Black Cat’s management with an offer to purchase 450 units for $550 each. Black Cat currently sells the product to dealers for $800 each. Black Cat’s capacity is sufficient to produce the extra 450 units. No selling expenses would be incurred on the special order. If Black Cat’s management accepts the offer, profits will: Group of answer choices Decrease by $120,000 Increase by $66,800 Increase by $97,650 Decrease by $24,000
Answer:
Increase by $97,650
Explanation:
Increment Sale $247,500
(450 * $550)
Less Increment cost
Direct materials $90,000
(450 * $200)
Direct labor $36,000
(450 * $80)
Manufacturing overhead $20,250
(450 * $150 * 30%)
Administrative expenses $3,600 $149,850
(450 * $80 * 10%)
Profit will increase by $97,650
On January 1, 2016, Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $784,000 cash. At January 1, 2016, Sedona’s net assets had a total carrying amount of $548,800. Equipment (eight-year remaining life) was undervalued on Sedona’s financial records by $95,000. Any remaining excess fair over book value was attributed to a customer list developed by Sedona (four-year remaining life), but not recorded on its books. Phoenix applies the equity method to account for its investment in Sedona. Each year since the acquisition, Sedona has declared a $34,000 dividend. Sedona recorded net income of $113,000 in 2016 and $124,100 in 2017.
Selected account balances from the two companies’ individual records were as follows:
Phoenix Sedona
2018 Revenues $ 648,000 $ 335,000
2018 Expenses 412,000 234,000
2018 Income from Sedona 54,075
Retained earnings 12/31/18 347,075 236,500
What is consolidated net income for Phoenix and Sedona for 2018?
What is Phoenix’s consolidated retained earnings balance at December 31, 2018?
On its December 31, 2018, consolidated balance sheet, what amount should Phoenix report for Sedona’s customer list?
Answer:
a) Consolidated net income for Phoenix and Sedona for 2018
Phoenix revenues $648,000
-Phoenix expenses ($412,000)
Phoenix Net Income $236,000
2018 Income from Sedona $54,075
Consolidated net income for $290,075
Phoenix and Sedona for 2018
b) Phoenix’s consolidated retained earnings balance at December 31, 2018
Phoenix’s consolidated retained earnings balance at December 31, 2018 = $347,075.00 (same as Phoenix because of equity method use)
c) What amount should Phoenix report for Sedona’s customer list?
Consideration transferred at fair value $784,000
Book value acquired ($548,800)
Excess fair over book value $235,200
To Equipment $95,000
To customer list (4 year life) $140,200
Three years since acquisition of customer list = $140,200/4 years = $35,050. Hence, Phoenix report $35,050 as Sedona’s customer list.
