Answer:
A
Explanation:
When there is non satiation, a consumer is yet to be fully satisfied, thus the consumer would benefit from additional consumption up to the point that utility is reached.
completeness means that if a consumer prefers bundle b to c or choice c to b. the consumer is indifferent between both choices
Indifference means that a consumer does not mind various combination of two goods that are on the same indiffernce curve
During March, Pendergraph Corporation incurred $65,000 of actual Manufacturing Overhead costs. During the same period, the Manufacturing Overhead applied to Work in Process was $67,000. The journal entry to record the application of Manufacturing Overhead to Work in Process would include a:
Answer: Credit to manufacturing overhead of $67000.
Explanation:
The journal entry to record the application of Manufacturing Overhead to Work in Process would be:
Debit Work in Progress $67000
Credit Manufacturing overhead $67000.
( To record the application of manufacturing overhead to work in process).
Why do people establish their own business?
Answer:
financial freedom
Explanation:
the reasons people start their own business is usually because they desire financial freedom meaning they would like have more disposable resources for themselves.
5.Which of the following is a valid Excel formula?
a) =C4*D4
b) B4*D4
c) Both =C4* and B4*D4
d) Neither =C4* nor B4*D4
Cross Corp. had outstanding 2,000 shares of 11% preferred stock, $50 par. On August 8, 1992, Cross redeemed and retired 25% of these shares for $22,500. On that date, Cross' additional paid-in capital from preferred stock totaled $30,000. To record this transaction, Cross should debit (credit) its capital accounts as follows:
Preferred stock Additional paid-in capital Retained earnings
A. $25,000 $7,500 ($10,000)
B. $25,000
C. ($2,500) $25,000
D. ($2,500)
Answer:
C. ($2,500) $25,000
Explanation:
The computation is shown below:
The Preferred stock should be debited with $25,000 and the net effect on additional paid in capital is $2,500 credit i.e. ($25,000 - $2,500)
So,
Preferred stock $25,000
And, Additional paid in capital ($2,500)
Therefore the option c is correct
And, the same is relevant
Any help 70 points
What would happen to the supply of pizza if more businesses enter the pizza market?
Answer:
increase
Explanation:
ofc since the more pizze businnesses make pizza, the more pizza will be made and sold
Answer:
○increase
Explanation:
of pizza supplies more if more businesses enter the pizza market then the market will have to increase their supplies and staffs.
The June 1 work in process inventory consisted of 5,000 units with $16,000 in materials cost and $12,000 in conversion cost. The June 1 work in process inventory was 100% complete with respect to materials and 50% complete with respect to conversion. During June, 37,500 units were started into production. The June 30 work in process inventory consisted of 8,000 units that were 100% complete with respect to materials and 40% complete with respect to conversion. 3. How many units were completed and transferred to finished goods during the period?
Answer:
The units completed and transferred to finished goods during the period were:
= 34,500 units.
Explanation:
a) Data and Calculations:
Units Materials Cost Conversion Cost Total
Beginning work in process 5,000 $16,000 $12,000 $28,000
Degree of completion of WIP 100% 50%
Units started 37,500
Units available 42,500 (5,000 + 37,500)
Ending work in process 8,000 100% 40%
Units completed 34,500 (42,500 - 8,000)
Equivalent units using the weighted average method:
Materials Conversion
Units completed and transferred out 34,500 (100%) 34,500 (100%)
Ending work in process at June 30 8,000 (100%) 3,200 (40%)
Total equivalent units 42,500 36,700
When a union tries to create negative publicity surrounding an employer's behavior in a labor dispute to get other members of the community (business and financial partners, consumers, politicians, and government) to pressure it to settle, it is known as a(n) ________.
When a union tries to create negative publicity surrounding an employer's behavior in a labor dispute in order to get others to pressure the employer to settle, it is known as a public relations campaign or public relations offensive.
What is a public relation campaign?
A public relations campaign is a strategy used by an organization, such as a union, to create and maintain a positive image or reputation among its stakeholders, such as members of the community, business and financial partners, consumers, politicians, and government. A public relations campaign can involve a variety of tactics, such as media relations, public speaking, social media engagement, and community outreach, to communicate information about the organization and its activities.
The goal of a public relations campaign is to build and maintain a positive reputation and to gain support for the organization's goals and objectives. In the context of a labor dispute, a union might use a public relations campaign to create negative publicity about an employer's behavior in order to pressure the employer to come to a resolution that is favorable to the union.
Learn more about public relation campaign, here:
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"In 2012, Canadian farmers did not suffer from drought conditions that affected the United States, but they did enjoy the higher corn prices. Canadian farmers reacted to the higher price by planting more corn. Suppose that the price of corn increased by 30 percent and the Canadian farmers increased the quantity of corn they supply by 20 percent. The supply of corn is"
Answer: D) inelastic.
Explanation:
To find out the elasticity of the supply of corn, use the Price Elasticity of Supply (PES) formula. The price elasticity of supply shows how much quaintly supplied would change by if there was a change in price.
Price elasticity of supply = Change in quantity supplied / Change in price
= 20% / 30%
= 0.66
When the Price elasticity of supply is less than one, the supply is said to be inelastic. The PES here is less than 1 so corn is inelastic.
Which of the following is an objective of capital budgeting?
A. To eliminate all risk.
B. To discount all future and past cash flows.
C. To earn a satisfactory return on investment.
D. To reverse past decisions.
E. To reduce the number of investment activities.
Answer:
C. To earn a satisfactory return on investment.
Explanation:
The objective of the capital budgeting is that the company should have to do the investment in that thing which should be profitiable. In this, the company have the options i.e. either it selects the better investment or proposal for the enterprise
So as per the given situation, when the return on the investment is earn and it becames satisfactory so this represent the capital budgeting objective
Hence, the option c is correct
what is autocratic leadership
Answer:
An authoritarian leadership style is exemplified when a leader dictates policies and procedures, decides what goals are to be achieved, and directs and controls all activities without any meaningful participation by the subordinates. Such a leader has full control of the team, leaving low autonomy within the group.
Vincenzo Martin and Sasha Boudrakis have started a new firm, The Fan Base. Vincenzo is a well-known marketing guru who advises major league sports franchises on how to maximize the revenue from their teams' brands and logos. Sasha, meanwhile, is mostly silent in the operation. He has invested $2 million to get The Fan Base off the ground, and in return he receives 25% of the firm's annual profits. The Fan Base is organized as a Group of answer choices corporation. limited liability company (LLC). sole proprietorship. general partnership. limited partnership.
Answer: limited partnership
Explanation:
With the description given in the question, the The Fan Base is organized as a limited partnership. A limited partnership has a general partner, whom has an unlimited liability and a limited partner.
A limited partnership is when two or more partners go into business together, and in this case, the limited partners will be liable only up to the amount that they invested in the business.
Rudd Clothiers is a small company that manufactures tall-men's suits. The company has used a standard cost accounting system. In May 2017, 11,250 suits were produced. The following standard and actual cost data applied to the month of May when normal capacity was 14,000 direct labor hours. All materials purchased were used.
Cost Element Standard (per unit) Actual
Direct materials 8 yards at $4.40 per yard $375,575 for 90,500 yards
($4.15 per yard)
Direct labor 1.2 hours at $13.40 per hour $200,925 for 14,250 hours
($14.10 per hour)
Overhead 1.2 hours at $6.10 per hour $49,000 fixed overhead $37,000 variable
overhead (fixed $3.50; variable $2.60)
Overhead is applied on the basis of direct labor hours. At normal capacity, budgeted fixed overhead costs were $49,000, and budgeted variable overhead was $36,400
Compute the total, price, and quantity variances for (1) materials and (2) labor. (Round answers to 0 decimal places, e.g. 125.)
Answer: See explanation
Explanation:
1. The total, price, and quantity variances for materials will be:
Actual Production = 11250
Standard Quantity of Direct Material Required per unit = 8
Standard Quantity of Direct Material required (SQ) = 11250*l × 8 = 90000
Standard Price per Yard (SP) = 4.4
Actual Direct Material (AQ) = 90500
Actual Price per Pound (AP) = 4.15
Total Material Variance:
= (SP × SQ) - (AP × AQ)
= (4.40 × 90000) - (4.15 × 90500)
= 396000 - 375575
= 20425
Direct Material Price Variance:
= AQ × (SP - AP)
= 90500 × (4.40 - 4.15)
= 90500 × 0.25
= 22625 Favourable
Direct materials quantity variance:
= SP × (SQ - AQ)
= 4.40 × (90000 - 90500)
= 4.40 × -500
= -2200 Unfavourable
2. The total, price, and quantity variances for labor will be:
Actual Production = 11250
Standard Hours Required per unit = 1.2
Standard Hours required (SH) = 11250 × 1.20 = 13500
Standard Rate per Hour (SR) = 13.4
Actual Hours required (AH) = 14250
Actual Rate per Hour (AR) = 14.1
Total Labour Variance:
= (SR × SH) - (AR × AH)
= (13.40 × 13500) - (14.10 × 14250)
= 180900 - 200925
= -20025 Unfavourable
Dircet Labour RateVariance:
= AH × (SR - AR)
= 14250 × (13.40 - 14.10)
= 14250 × -0.7
= -9975 Unfavourable
Direct Labour efficiency variance:
= SR × (SH - AH)
= 13.40 × (13500 - 14250)
= 13.40 × -750
= -10050 Unfavourable
Crane Company, organized in 2019, has set up a single account for all intangible assets. The following summary discloses the debit entries that have been recorded during 2020.
1/2/20 Purchased patent (9-year life) $387,900
4/1/20 Purchase goodwill (indefinite life) 341,000
7/1/20 Purchased franchise with 10-year life; expiration date 7/1/30 421,000
8/1/20 Payment of copyright (5-year life) 145,200
9/1/20 Research and development costs 211,000
$1,506,100
Required:
Prepare the necessary entry to clear the Intangible Assets account and to set up separate accounts for distinct types of intangibles.
Answer:
Date Account title Debit Credit
12/31/2020 Patent $387,900
Goodwill $341,000
Franchise $421,000
Copyright $145,200
Research and Devel. Expense $211,000
Intangible Assets $1,506,100
The individual intangible asset accounts will be debited as shown above. Research and Development costs are not to be capitalized however according to U.S. GAAP and so will go to expenses.
Value stream mapping (VSM):_____.
a. is typically done once an organization has converted to a lean system.
b. facilitates identifying sources and causes of waste.
c. has the potential to increase the carbon footprint.
d. is applied only in push production systems.
Answer:
b. facilitates identifying sources and causes of waste
Explanation:
Value-stream mapping can be regarded as material and information flow mapping, it can be explained as
lean-management method used in
analyzing of the current state as well as designing of future state as regards
series of events that is involved in taking a product/service from the starting of the particular process until the product/service gets to the customer. It should be noted that Value stream mapping (VSM) facilitates identifying sources and causes of waste
Use the following information for Shafer Company to compute inventory turnover for year 2.
Year 2 Year 1
Net sales $657,500 $584,900
Cost of goods sold 390,500 361,040
Ending inventory 79,700 81,380
Answer:
4.85 times
Explanation:
The computation of the inventory turnover for the year 2 is shown below:
we know that
Inventory turnover = Cost of goods sold ÷ Average inventory
Here,
Average inventory is
= ($79,700 + $81,380 ÷ 2)
= $80,540
So,
The Inventory turnover is
= $390,500 ÷ $80,540
= 4.85 times
1- Introduction to Business class is to observe the use of groups in a large manufacturing business. The students notice that most groups are arranged by reporting relationships. Bill discovers a group of managers who have been placed together to study and recommend a course of action on a flextime schedule for employees. Jane finds that the executives of the company have formed a team consisting of themselves, some middle managers, and a few hourly employees to work on improving work processes and efficiency within the company. This group has been in existence for 5 years and is going strong . The group of managers that Bill discovers is an example of:
A) an informal interest group.
B) a formal group.
C) A fun group.
D) a quality group.
Answer:
Option B (a formal group) is the correct approach.
Explanation:
The formal groupings are created purposefully as well as deliberately together to focus group members' continued efforts, in particular their workers, towards achieving their corporate goals.It must be utilized to aid this same right decision-making, even though many persons come up with competing processes and strategies which would have been seen as superior choices.The other given choices are not connected to the given instance. So the above is the right choice.
The Upstart Company has the following production function.
Number of Workers Number of Cases Produced
0 0
1 10
2 19
3 26
4 31
5 34
If the company hires 4 workers, which of the following could be the real wage rate?
a. 2
b. 4
c. 6
d. 8
Answer:
b. 4
Explanation:
The computation of the real wage rate is as follows:
Number of workers Number of cases produced Marginal product
0 0 -
1 10 10
2 19 9
3 26 7
4 31 5
5 34 3
At optimal MP = real wage rate.
So,
For 4th worker , MP is 5
And for 5th worker ,MP is 3
So in the case when we hire 4 workers so the real wage rate should lies in between of 3 and 4
Therefore the real wage rate is 4
In a study of the reading habits of Waymarsh citizens conducted by the University of Waymarsh, most respondents said they preferred literary classics as reading material. However, a second study conducted by the same researchers found that the type of book most frequently checked out of each of the public libraries in Waymarsh was the mystery novel. Therefore, it can be concluded that the respondents in the first study had misrepresented their reading preferences.
a. True
b. False
Answer:
a. True
Explanation:
The first study might have misrepresented the reading preferences as the second research clearly indicated that most of the readers preferred mystery novels. The habits of Waymarsh citizens is reading and they visit library very frequently but they prefer reading mystery, suspense and thriller novels which create interest in eyes of readers. They firstly said that they prefer reading classics but when actual books most frequently read were researched then it was found that citizens prefer reading mystery books.
manufacturing costs for August when production was 1,000 units appear below: Direct material $12 per unit Direct labor $7,500 Variable overhead 6,000 Factory depreciation 9,000 Factory supervisory salaries 7,800 Other fixed factory costs 2,500 Compute the flexible budget manufacturing cost amount for a month when 900 units are produced.
Answer:
Total manufacturing Cost $42,250
Explanation:
The computation of the flexible budget manufacturing cost amount for a month when 900 units are produced is given below:
No. of units Produced 900 units
Direct material at $12 per unit $10,800
Direct labor (($7,500 ÷1,000) × 900) $6,750
Variable Overhead ($6,000 ÷ 1000) × 900 $5,400
Factory depreciation $9,000
Factory Supervisory salary $7,800
other fixed factory cost $2,500
Total manufacturing Cost $42,250
Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.) a.Calculate the OCF. (Do not round intermediate calculations.) b.What is the depreciation tax shield
Full question:
Fill in the missing numbers for the following income statement. (Input all amounts as positive values. Do not round intermediate calculations.)
Sales $ 687,900
Costs $442,800
Depreciation $115,400
EBIT $
Taxes (30%)
Net income $
OCF
What is the depreciation tax shield?
Answer:
Operating Cash Flow(OCF)= $206190
Depreciation tax shield = $34620
Explanation:
To calculate Depreciation tax shield:
Depreciation×tax rate= $115400×0.30=$34620
Operating Cash flow(OCF)= Earnings before interest and taxes(EBIT)+depreciation - income tax expense
So we calculate EBIT and Income tax expense
EBIT= Sales - cost of good sold - depreciation expense
= $ 687,900-$442,800-$115,400= $129,700
Income tax expense= (Sales - cost of goods sold - depreciation expense) × tax rate
=($687900-$442800-$115400)×0.30
=$38910
Therefore, Operating Cash flow(OCF)= $129,700+$$115,400-$38910= $206190
During March, Zea Inc. transferred $55,000 from Work in Process to Finished Goods and recorded a Cost of Goods Sold of $61,000. The journal entries to record these transactions would include a:
Answer:
See below
Explanation:
Given the above information, the journal entries to record these transactions would be ;
Finished goods Dr $55,000
______ Work in process Cr $55,000
(Being record of transfer from work in process to finished goods)
Cost of goods sold Dr $61,000
__________ Finished goods Cr $61,000
(Being record of cost of goods sold)
A small firm intends to increase the capacity of a bottleneck operation by adding a new machine. Two alternatives, A and B, have been identified, and the associated costs and revenues have been estimated. Annual fixed costs would be $36,000 for A and $31,000 for B; variable costs per unit would be $7 for A and $11 for B; and revenue per unit would be $18.
Requied:
a. Determine each alternativeâs break-even point in units.
b. At what volume of output would the two alternatives yield the same profit?
c. If expected annual demand is 10,000 units, which alternative would yield the higher profit?
Answer:
Results are below.
Explanation:
Giving the following information:
Alternative A:
Fixed costs= $36,000
Unitary variable cost= $7
Selling price= $18
Alternative B:
Fixed costs= $31,000
Unitary variable cost= $11
Selling price= $18
First, we need to calculate the break-even point in units for each alternative:
Break-even point in units= fixed costs/ contribution margin per unit
Alternative A= 36,000 / (18 - 7)= 3,273
Alternative B= 31,000 / (18 - 11)= 4,429
Now, we equal the indifference point:
36,000 + 7x = 31,000 + 11x
x= number of units
5,000 = 4x
1,250 = x
The indifference point is 1,250 units.
Finally, 10,000 units are sold:
Alternative A:
Net income= 10,000*(18 - 7) - 36,000
Net income= $74,000
Alternative B:
Net income= 10,000*(18 - 11) - 31,000
Net income= $39,000
When evaluating whether to purchase public stock (i.e. an investor), what ratio should be considered to be most important and WHY
Answer:
The price earnings ratio should be considered to be most important.
The reason is that the price earnings ratio indicates how much the market is ready to pay for a stock based on its current earnings.
Explanation:
The price earnings ratio is a market prospect ratio that compares the market price per share to the earnings per share to determine the market value of a stock in relation to its earnings. The P/E ratio is calculated using the following formula:
P/E ratio = Market price per share / Earnings per share
The price earnings ratio should be considered to be most important because it indicates how much the market is ready to pay for a stock based on its current earnings. It is frequently used by investors to estimate a stock's fair market value by forecasting future earnings per share. The rationale for this is that companies with larger future earnings are more likely to pay bigger dividends or have stock that appreciates in value.
The price to earnings ratio is also known as a price multiple or earnings multiple for this reason. This is because the ratio is used by investors to determine the value of a share based on its earnings multiple. In other words, how much they are willing to pay as a multiple of their incomes.
15. Assume that Bullen issued 12,000 shares of common stock, with a $5 par value and a $47 fair value, to obtain all of Vicker's outstanding stock. In this acquisition transaction, how much goodwill should be recognized
Answer:
$104,000
Explanation:
Note: The full question is attached as picture below
Fair value of net assets = Cash and receivables + Inventory + Land + Buildings (net) + Equipment (net) - Liabilities
Fair value of net assets = $70,000 + 210,000 + 240,000 + 270,000 + 90,000 - 420,000
Fair value of net assets = $460,000
Purchase consideration paid = 12,000*$47
Purchase consideration paid = $564,000
Goodwill recognized = Purchase consideration - Fair value of net assets
Goodwill recognized = $564,000 - $460,000
Goodwill recognized = $104,000
Identify a chart of accounts, using correct headings from the list of account titles below: Account Titles Chart of Accounts Accounts Payable Accounts Receivable Building Cash Equipment Insurance Expense Prepaid Insurance Rent Expense Service Fees Dunlop, Capital Dunlop, Drawing Supplies Wage Expense Wages Payable
Answer:
The question wants the given accounts to be grouped by what type of account they are. For instance, Accounts Payable is a liability.
Liabilities:
Accounts Payable Wages payableAssets
Accounts Receivable Building Cash Equipment Prepaid Insurance SuppliesExpenses
Insurance expense Rent expense Wage expenseRevenue
Service feesOwner's Equity
Dunlop, CapitalDunlop, DrawingYou have been asked to analyze a capital investment project for a new machine. The machine will cost $400,000, have an 8-year life and a salvage of $80,000. The new machine will generate annual net cash flows of $120,000. The accounting rate of return for the first year of using the new machine is:
Answer:
14%
Explanation:
Net cash flow = $120,000
Annual Depreciation = [(Cost + Salvage value) / Useful life]
Annual Depreciation = [($400000 + 80000) / 8 years]
Annual Depreciation = $64,000
Net Income = Net cash flows - Annual Depreciation
Net Income = $56,000
Investment amount = $400,000
Accounting rate of return = Net Income / Investment amount
Accounting rate of return = $56,000 / $400,000
Accounting rate of return = 14%
Quail Company's suppliers offer terms of 2/10, net 35. Using a 360-day year, what is the approximate cost of foregoing the discounts
Answer:
0.29
Explanation:
The computation of the approximate cost of foregoing the discounts is shown below:
Here we assume the balance to be $100
Now 2/10, net 35 means that if the person paid the amount within 10 days so he or she is eligible for the payment
So,
= $100 × (100 - 0.02)
= $98
The $98 should be paid in 10 days
or $100 for 35 days
So overall the $2 for borrowing and $98 for 25 days i.e. (35 - 10)
Now the annual percentage is
= $2 ÷ $98 × 360 days ÷ 25 days
= 0.29
Use this information for Train Corporation to answer the question that follow. The following financial information was summarized from the accounting records of Train Corporation for the current year ended December 31: Rails Division Locomotive Division Corporate Total Cost of goods sold $46,100 $29,000 Direct operating expenses 27,200 20,600 Sales 94,500 67,500 Interest expense $2,200 General overhead 19,400 Income tax 4,200 The net income for Train Corporation is:__________.
a. $13,300
b. $86,900
c. $70,900
d. $39,100
Answer:
a. $13,300
Explanation:
The computation of the net income for train corporation is given below:
= Sales - cost of goods sold - direct operating expense - interest expense - general overhead - income tax
= $94,500 + $67,500 - $46,100 - $29,000 - $27,200 - $20,600 - $2,200 - $19,400 - $4,200
= $13,300
Hence, the correct option is a.
Nathan, George, and Bill have formed a partnership and the partnership agreement states that Nathan will receive 40% of the profits and George and Bill will share the remainder equally. During the current year, the partnership earns $120,000. What is the closing entry to record the allocation of partnership income
Answer:
Profits will be distributed in the following way:
Nathan will receive $120,000 x 40% = $48,000
George will receive $120,000 x 30% = $36,000
Bill receive $120,000 x 30% = $36,000
Total = $120,000
Journal entry
Dr Income summary 120,000
Cr Capital, Nathan 48,000
Cr Capital, George 36,000
Cr Capital, Bill 36,000
The BRS Corporation makes collections on sales according to the following schedule:45% in month of sale50% in month following sale5% in second month following saleThe following sales have been budgeted:Sales April $ 160,000May $ 180,000June $ 170,000Budgeted cash collections in June would be:___________a) $170,800b) $166,500c) $170,000d) $174,500
Answer:
$170,500
Explanation:
Calculation to determine what the Budgeted cash collections in June would be
Cash collections for June:March credit sales collected in June ($160,000 × 45%)$72,000
February credit sales collected in June ($180,000 × 50%) $90,000
January credit sales collected in June ($170,000 × 5%) $8,500
Total cash collections in June $170,500
Therefore the Budgeted cash collections in June would be:$170,500
