When using the Waterfall Approach, development activities are performed in order, with possibly minor overlap, but with little or no iteration between activities.
Explanation:
There is a seamless execution of software operation with perhaps a slight variation, but little or no repetition. User standards are identified, requirements are described and the whole system is designed, intended and tested at one moment in time for ultimate delivery.
A document-based approach better suited to structures of strongly precedent and reliable requirements.
Sometimes referred known as the great linear and sequential model, the waterfall model is also quite linear and sequential for the activity flow in this model, as its title suggests.
In the context of software engineering, developing activities in sequence with limited overlap or iteration is characteristic of the Waterfall approach. The Waterfall model is a sequential process that progress downwards through various phases.
The software engineering approach that involves carrying out development activities in order, with little or possibly minor overlap, and with minimum to no iteration between activities is called the Waterfall approach. The Waterfall model is a sequential design process, where progress is seen as flowing steadily downwards (like a waterfall) through the phases of conception, initiation, analysis, design, construction, testing, production/implementation, and maintenance.
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Natalie owns a condominium near Cocoa Beach in Florida. This year, she incurs the following expenses in connection with her condo: Insurance $ 1,000 Advertising expense 500 Mortgage interest 3,500 Property taxes 900 Repairs & maintenance 650 Utilities 950 Depreciation 8,500 During the year, Natalie rented out the condo for 75 days, receiving $10,000 of gross income. She personally used the condo for 35 days during her vacation. Assume Natalie uses the Tax Court method of allocating expenses to rental use of the property. Assume 365 days in the current year. (Do not round apportionment ratio. Round all other dollar values to the nearest whole dollar amount.)
Using the original facts, complete Natalie’s Form 1040, Schedule E, for this property. Also, partially complete Natalie’s 1040, Schedule A, to include her from AGI deductions related to the condo.
Answer and Explanation:
Natalie's Gross Income = $10,000
75 + 35 = 110 days
Expenses:
Insurance Expense (75/110) x 1000 682
Advertising Expense 500
Mortgage Interest (75/110) x 3500 2386
Property Taxes (75/110) x 900 614
Repairs and Maintenance (75/110) x 650 443
Utilities (75/110) x 950 648
Depreciation (75/110) x 8500 5795
Until the depreciation expenses the total expenses accumulate to 5273. If we deduct that with the gross income total we get 4727. We can only deduct 4727 from the total portion of 5795 depreciation expense.
Therefore, for AGI deductions we take total of (5273 + 4727) = $10,000
For Natalie's personal deduction of AGI
Mortgage interest (35/110) x 3500 1114
Property taxes (35/110) x 900 286
Total personal deduction for AGI $1400
Natalie would calculate the rental portion of her expenses, and use those to compute her rental real estate loss as well as potential deductions on her Schedule A itemized deductions.
Explanation:Natalie would first calculate the rental portion of her expenses since the property is not used solely for rental. The Tax Court method divides the number of rental days by the total number of days the condo was used. In this case, it is 75 rental days divided by 110 total days or 0.6818 as the apportionment ratio.
Next, each expense is multiplied by this ratio:
For the personal portion of the mortgage interest and property taxes, Natalie would be able to include these in her Schedule A itemized deductions. Therefore, she could potentially deduct the remaining $1,114 (Mortgage Interest) and $287 (Property Taxes) on Schedule A.
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When AS is greater than AD, savings will be greater than investment and economic activity will _________..
Answer:
The correct answer is: decrease.
Explanation:
If Aggregate Supply (AS) is higher than Aggregate Demand (AD), it implies somehow consumers are keeping their income with them. Economic activity will contract as a result but to promote consumption, for instance, banks lower their interest rates on loans with the confidence that consumers will have enough money to cover their debts.
Samantha, who is single and has MAGI of $36,000, recently was employed by an accounting firm. During the year, she spends $1,650 for a CPA exam review course and begins working on a law degree in night school. Her law school expenses were $4,275 for tuition and $900 for books (which are not a requirement for enrollment in the course).
Assuming no reimbursement, how much can Samantha deduct for the:
a. CPA exam review course? $X
b. Law school expenses? $X
Answer:
a) $0
b) $4,000
Explanation:
a)
No deduction will be allowed to samantha for the amount spent on CPA exam review course.
So, Samantha can deduct $0.
b)
Under section 222 of IRS Code, maximum amount of deduction allowed to tax payer (whose adjusted gross income is less than $65,000) on account of tuition fees and other education expenses is $4,000.
So, Samantha can deduct $4,000.
Hope this helps!
Final answer:
Samantha may not be able to deduct expenses for her CPA exam review course unless such employee expense deductions are allowed, which are currently suspended by the Tax Cuts and Jobs Act. Her law school expenses also are not deductible as they are for education that qualifies her for a new profession. She may, however, be eligible for education credits like the Lifetime Learning Credit.
Explanation:
Samantha, who has a MAGI of $36,000 and is pursuing further education and professional development, can expect different tax treatments for her CPA exam review course and her law school expenses. The deductibility of these expenses depends on current tax laws and eligibility for education-related tax benefits.
For the CPA exam review course, if it maintains or improves skills required in her current job, she may be able to deduct it as an unreimbursed employee expense if such deductions still exist. However, if these deductions have been eliminated or suspended in the current tax law (e.g., by the Tax Cuts and Jobs Act which suspended these deductions for tax years 2018-2025), then she would not be able to claim a deduction.
Regarding law school expenses, she cannot deduct the tuition and related expenses as they are for education that qualifies her for a new profession, which is not deductible. Nonetheless, Samantha could potentially be eligible for education credits if she falls within the income threshold, such as the Lifetime Learning Credit, which may provide a credit of up to $2,000 for qualified education expenses.
Information from the records of the Conundrum Company for September 2018 was as follows:
Sales $307,500
Selling and administrative expenses 52,500
Direct materials used 66,000
Direct labor 75,000
Variable factory overhead 50,000
Factory overhead 51,250
Inventories
Sept. 1, 2018 Sept 30, 2018
Direct materials $ 8,000 $10,500
Work in process 18,750 21,000
Finished goods 17,250 14,250
Conundrum Corporation produced 20,000 units.
The prime costs per unit for September were
a.$7.05
b.$8.8125
c.$20.00
d.$14.7375
Answer:
The prime costs per unit for September were a. $7.05
Explanation:
The prime costs per unit for September were (consider the following calculation).
step 1. = ($66,000 + $75,000) / 20,000 units
step 2. = $141,000 / 20,000 units
step 3. = $7.05 per unit
Final answer:
The prime costs per unit of the Conundrum Company are calculated by adding the direct materials used ($66,000) with the direct labor ($75,000) and then dividing by the number of units produced (20,000 units), resulting in a cost of $7.05 per unit.
Explanation:
Prime Costs Calculation
The question involves calculating the prime costs per unit for the Conundrum Company. Prime costs consist of direct materials and direct labor. In the provided data, we have the following figures for the month of September 2018:
Direct materials used: $66,000
Direct labor: $75,000
To calculate the prime costs per unit, we add the direct materials used to the direct labor and then divide by the number of units produced. The calculation is as follows:
Prime Costs = Direct Materials + Direct Labor
Prime Costs = $66,000 + $75,000
Prime Costs = $141,000
Units Produced = 20,000
Prime Costs per Unit = Prime Costs / Units Produced
Prime Costs per Unit = $141,000 / 20,000
Prime Costs per Unit = $7.05
Therefore, the correct answer is (a) $7.05.
A tradable permit system: Group of answer choices
a. requires that each firm reduce its pollution by the same amount.
b. is difficult to implement because regulators do not know the marginal abatement costs of every company.
c. achieves a given amount of pollution reduction at the least cost because firms with lowest marginal abatement costs do most of the reduction.
d. increases pollution because the government gives firms permits that grant them the right to pollute.
Answer:
C.
Explanation:
Achieves a given amount of pollution reduction at the least cost because firms with lowest marginal abatement costs do most of the reduction.
A tradable permit system achieves pollution reduction at the least cost by allowing firms with the lowest marginal abatement costs to do most of the reduction. The correct answer is c.
The correct answer is: A tradable permit system, also known as a cap-and-trade system, is designed to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants.
Here's how it works: the government sets a cap on the total amount of pollution that can be emitted. Permits allowing a certain amount of pollution are then either given to firms or sold to them.
Firms that can reduce pollution at a lower cost will do so and sell their extra permits to firms for whom it is more costly to reduce pollution.
This ensures that the pollution reduction is achieved at the least possible cost to the industry and society.
By enabling firms with the lowest abatement costs to act first, tradable permits optimize overall cost-efficiency in reducing pollution.
Therefore, the correct answer is option c that is "achieves a given amount of pollution reduction at the least cost because firms with lowest marginal abatement costs do most of the reduction."
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances at a cost of $65,800. The band estimates it will use this equipment for four years, during which time it anticipates performing about 200 concerts. It estimates that after four years it can sell the equipment for $2,000. During year 2017, the band performs 45 concerts. Compute the year 2017 depreciation using the straight-line method.
Answer:
Annual depreciation= $15,950
Explanation:
Giving the following information:
On January 2, 2017, the Matthews Band acquires sound equipment for concert performances for $65,800.
The band estimates it will use this equipment for four years. It estimates that after four years it can sell the equipment for $2,000.
We need to use the following formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (65,800 - 2,000)/4= $15,950
In a company that employs continuous budgeting on a quarterly basis and has an accounting period that ends December 31 of each year, what period would the first revision and update to the January through December 2015 budget cover? Select one: a. February 2015-January 2016 b. March 2015-February 2016 c. December 2015-November 2016 d. April 2015-March 2016 e. January 2016-December 2016
Answer:
d. April 2015-March 2016
Explanation:
After March 2015, The Continuous budget will be updated for the 12-month, period starting from April 2015 to March 2016.
such that:
Quarter 1 - January to March
Quarter 2 - April to June
First revision and update will be on the basis of outcomes of Quarter 1, for the one year year period starting from Quarter 2.
Therefore, The period would the first revision and update to the January through December 2015 budget cover April 2015 to March 2016.
The Federal Open Market Committee (FOMC) makes decisions regarding the___________.
A. discount rate
B. reserve requirements
C. margin requirements on stock purchases (primarily common stock)
D. buying and selling of securities (primarily Treasury bonds)
Answer:
The correct answer is letter "D": buying and selling of securities (primarily Treasury bonds).
Explanation:
The Federal Open Market Committee or FOMC is a department of the Federal Reserve Board in charge of establishing monetary policy. There are different meetings within a year they held to determine to continue with the current policy or to change it. A change in monetary policy represents the purchase or sale of government securities (treasury bonds) on the open market to stimuli the economy.
Quick Fix-It Corporation was organized at the beginning of this year to operate several car repair businesses in a large metropolitan area.
The charter issued by the state authorized the following stock:
Common stock, $10 par value, 98,000 shares authorized
Preferred stock, $50 par value, 8 percent, 59,000 shares authorized
During January and February of this year, the following stock transactions were completed:
Sold 78,000 shares of common stock at $20 cash per share.
Sold 20,000 shares of preferred stock at $80 cash per share.
Bought 4,000 shares of common stock from a current stockholder for $20 cash per share.
Required:
Net income for the year was $210,000; cash dividends declared and paid at year-end were $50,000.
Prepare the stockholders' equity section of the balance sheet at the end of the year. (Amounts to be deducted should be indicated with a minus sign.)
The final stockholders' equity of Quick Fix-It Corporation at the end of the year is $1,860,000, calculated by adding the net common stock ($700,000), preferred stock ($1,000,000), and retained earnings ($160,000) together.
Explanation:The stockholders' equity section of the balance sheet can be calculated as follows:
Common stock: The company sold 78,000 shares at $10 par value each, which equals $780,000. However, they bought back 4,000 shares at $20 each, meaning they paid $80,000 for this. Therefore, the net common stock is $780,000 - $80,000 = $700,000.Preferred stock: The company sold 20,000 preferred shares at a par value of $50 each, which equals $1,000,000.There was also a net income of $210,000 for the year, but a payout of $50,000 in dividends. This means an addition to Retained Earnings of $160,000 ($210,000 - $50,000).Therefore, the final stockholders' equity is the sum of the net common stock, preferred stock, and the addition to retained earnings, which equals $1,860,000 ($700,000 + $1,000,000 + $160,000).
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If nothing changes except that producers sell more of a good or service when the price increases, we know this is an example of the law of
a. Increasing profit.
b. Supply.
c. Demand.
d. Opportunity cost.
e. Reduced real income.
Answer:
If nothing changes except that producers sell more of a good or service when the price increases, we know this is an example of the law of SUPPLY
Explanation:
The law of supply is simply termed as when there is an increase in quantity of goods also results into an increase in the price although every other factors must remain the same
1 year treasury investment yield 4%; while a high tech comonn stock investment yeilds 25%. the risk free rate of return is:______A. 0%B. 4%C. 21%D. 25%
Answer:
B. 4%
Explanation:
The risk free return is equal to the one year treasury investment yield because the treasury investment is a government bond and the people have a guarantee by the government that they will be paid what they are owed, thus a 1 year treasury investment yield is often looked at as a risk free rate of return. In this question the one year treasury yield is 4% so the risk free rate of return is also 4%.
During the current year, Eleanor earns $120,000 in wages as an employee of an accounting firm. She also earns $13,000 in gross income from an outside consulting service she operates. Deductible expenses paid in connection with the consulting service amount to $3,000. Eleanor also incurs a recognized long-term capital gain of $1,000 from the sale of a stock investment. She must pay a self-employment tax on:
Answer:
$10,000
Explanation:
Eleanor's self-employment tax will require an understanding of a few points.
1. Eleanor earns $120,000 as wages working for an accounting firm therefore, this wages do not qualify for self-employment tax
2. Eleanor earns $13,000 as gross income for her own consulting service and this is self-employment income. However, $3,000 qualify as deductible expenses from the gross income. Taxable self-employment income= $13,000-$3,000= $10,000
3. Long term capital gain tax incurred = $1,000. Ordinarily the capital gain tax should increase the tax. However, its inclusion will be based on the federal government's table for calculating payment of long-term capital gain tax for 2019 based on income for the year.
Looking at the table, income from $0 Up to $39,375 will attract 0% payment of long-term capital gain tax. Since, the self-employment income of Eleanor is $10,000, no long-term capital gain tax will be incurred.
It means only the 13,000-3,000= $10,000 will be tax for self employment
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed several standard designs for a group of similar transmission line towers. The detailed design for each tower is based on one of the standard designs. A transmission line project involving 46 towers has been approved. The estimated number of engineering hours needed to accomplish the first detailed tower design is 124. Assuming a 94% learning curve, what is your estimate of the number of engineering hours needed to design the eighth tower?
Answer:
102.99 hours needed
Explanation:
Zu = K (U^n)
Zu= estimation of tower which is for 8
U= number of tower which is 8
n= log0.94/log2
[tex]Zu= 124(8^{log0.94/log2} )= 102.99hours[/tex]
In the Month of March, Chester Corporation received orders of 156 units at a price of $15.00 for their product Cozy. Chester uses the accrual method of accounting and offers 30 day credit terms. Chester delivers 104 units in March and the balance of 52 units in April. They received payment for 52 units in March, 52 units in April, and 52 units in May. How much revenue is recognized on the March income statement from this order? How much in the April Income statement? (Answer in thousands)
a. $780 , $780
b. $1,560 , $780
c. $2,340 , 0
d. 0 , $2,340
Answer:
b. $1,560 , $780
Explanation:
Step 1. Given information.
Chester Corporation received orders of 156 units at a price of $15.00 for their product Cozy. Which means $2.340 income.104 units for march and remaining 52 in April.The payment is received in three periods: 52 march, 52 april and 52 May
Step 2. Formulas needed to solve the exercise.
Income in march = Units payed * price per unit
Income in April = Units payed * price per unit
Step 3. Calculation and step 4. Solution.
Income in march = 104 * 14 = $1560
Income in April= 52 * 15 = $780
Note: because receiving order does not mean the sale is done. the 52 unit is dispatched in april, so we will take sales for april as 52 x 15.
Evaluate the current China/Taiwan logistics costs. Assume a current total volume of 190,000 CBM and that 89 percent is shipped direct from the supplier plants in containers. Use the data from the case and assume that the supplier-loaded containers are 85 percent full. Assume that consolidation centers are run at each of the four port locations. The consolidation centers use only 40-foot containers and fill them to 96 percent capacity. Assume that it costs $480 to ship a 20-foot container and $600 to ship a 40-foot container. What is the total cost to get the containers to the United States? Do not include U.S. port costs in this part of the analysis.
Answer:
The total cost involved in shipping the containers to country U.S is $2,594,930
Explanation:
Consider the following information regarding Company WWG:
Total Current volume (CBM) = 190,000
Direct shipping percentage = 0.89
Direct ship Volume (CBM) = 169,100
Consolidation center volume = 190,000 - 169,100 = 20,900
Calculate the shipping cost of the company as shown below:
Shipping Cost calculations
Direct ship by Container type (in Feet) 20 40
Volume (%) 0.21 0.79
Volume (CBM) 169,100*0.21 169,100*0.79
= 35,511 =133,589
Container capacity used 85% 85%
Container center by container type
Volume (%) = 100
Volume (CBM) = 20,900
Container capacity used = 96%
Container capacity (CBM) (34)
Container shipped = 35,511/ (34*0.85) =1,229
Shipping Cost per container = $480
Shipping Cost by container size ($) = 1,229*480 4589,920
Container capacity (CBM) (67)
Container shipped = 133,589/ (0.85*67) + 20,900/ (0.96*67) = 2,671
Shipping Cost per container = $600
Shipping Cost by container size ($) = 2,671*600 = $1,602,600
Calculate the total shipping cost as shown below:
Total shipping cost = $589,920+$1,602,600 = $2,192,520
Calculate the consolidation center operating cost as shown below:
Number of centers = 4
Annual fixed cost per center = $75,000
Total annual fixed cost = $75,000*4 =$300,000
Variable cost per CBM = $4.9
Total annual variable cost = 20,900*$4.9 = $102,410
Total annual consolidation center costs = $300,000+$102,410= $402,410
Calculate the total cost involved in shipping containers to the Country U as shown below:
Total Cost = Total Shipping Cost + Total Annual Consolidation center Cost
= $2,192,520 + $402,410
= $2,594,930
Hence, the total cost involved in shipping the containers to country U.S is $2,594,930.
Final answer:
The total cost to get the containers to the United States is $4,138,960.
Explanation:
To calculate the total cost to get the containers to the United States, we need to consider the logistics costs involved. Let's break it down step by step:
First, we calculate the total volume of containers shipped direct from the supplier plants. 89% of the 190,000 CBM volume is shipped directly, which gives us 169,100 CBM.
Next, we calculate the number of containers needed for the supplier-loaded containers. Assuming the containers are 85% full, we divide the volume by the capacity of a 20-foot container. 169,100 CBM / 20 CBM = 8,455 containers.Now, we calculate the number of 40-foot containers used at the consolidation centers. Assuming the containers are filled to 96% capacity, we divide the number of 20-foot containers by 2 and multiply by 1.04. (8,455 / 2) * 1.04 = 4,402 containers.Finally, we calculate the total cost by multiplying the number of 20-foot containers by the cost to ship a 20-foot container, and the number of 40-foot containers by the cost to ship a 40-foot container. (8,455 * $480) + (4,402 * $600) = $4,138,960.Therefore, the total cost to get the containers to the United States is $4,138,960.
You go to a local mechanic to get your tires changed. The tires cost $300. There is a 6% sales tax, but you get a 10% discount. There is also a $10 non-taxable disposal fee for your old tires, which the mechanic tells you is not subject to discount. 18. Write a function, t(x) for the total purchase amount after taxes, ignoring any discounts and fees.
Answer:
X= cost of the tires
t(x)= (.9*X+10)*1.06
If x = 300, then the costo is (.9*300 + 10) *1.06 = (270 + 10)* 1.06 = 280 * 1.06 = $296.80
If the tax is appplied first and then the discount is applied, your formula would be:
t(x) = (x+10)*1.06 - (-1*x)
If x is equal to $300, the cost is $310 * 1.06 - .1*300 = $328.60 - $30 = $298.60
you pay mor if the tax is applied first.
Your discounted price of .9*x stems from x - .10*x which becomes (1-.10)*x wich becomes .9*x
Your cost with tax stems from y + .06*x =(1+.06)*y = 1.06*y
Y is the amount of the cost that is taxed.
if the discuount is applied first, then y is equal to (.9*x + 10)
if the discount is applied after, then y is equal to (x+10).
The difference is the tas on the discount
Explanation:
Answer:
[tex]t(x)= x+0.06x\\[/tex]
or
[tex]t(x)= 1.06*x[/tex]
Explanation:
if we take x as the tyre cost ($ 300)
Tax = 6%
the function ignoring the discounts and fees would be:
[tex]t(x)= x+0.06x[/tex]
Now including discounts and fees, can be done by two ways
1) adding taxes before discount
To the price 300 add 6% tax = 318
discount would be 318 * 10% = 31.8
then the cost is 318 - 31.8 = 286.2
2) adding taxes after discount
To the price (300) we will apply the 10% discount
discount would be 300 * 10% = 30
price now will be 300- 30 = 270
now to the calculated price add the 6% tax
270* 1.06 = 286.2
Tickets for the historical review of ballroom dancing at the Portsmouth Music Hall cost $42 for the main-floor seats and $25 for the balcony seats. Let m represent the number of tickets sold for the main-floor seats and let b represent the number of tickets sold for the balcony seats. What is the algebraic expression for each of the following amounts?
(a) The cost in dollars of all the main-floor seats that were sold
(b) The total number of seats that were sold for the performance
Answer:
(a) The cost in dollars of all the main-floor seats that were sold: 42m + 25b. (b) The total number of seats that were sold for the performance: m+b.
Explanation:
Its understood that 1 tickect is equal to 1 seat, therefore the number of seats = number of tickets regardless of the type of seat. With this assumption, the algebraic expressions can be done.
The data below relate to the month of April for Monroe, Inc., which uses a standard cost system and a two-variance analysis of factory overhead:
Actual direct labor hours used
16,500
Standard direct labor hours allowed
16,250
Actual total factory overhead
$53,200
Budgeted fixed factory overhead
$12,000
Budgeted activity in hours
16,000
Total overhead application rate per standard direct labor hour
$3.25
Variable overhead application rate per standard direct labor hour
$2.50
What was Monroe's production-volume variance for April?
a.
$187.50 favorable
b.
$187.50 unfavorable
c.
$437.50 favorable
d.
$437.50 unfavorable
Answer:
Fixed overhead absorption rate
= Budgeted fixed overhead
Budgeted activity level
= $12,000
16,000 hours
= $0.75 per hour
Production volume variance
= (Standard hours - Budgeted hours) x Fixed overhead rate
= (16,250 - 16,000) x $0.75
= $187.5(F)
The correct answer is A
Explanation:
First and foremost, we need to calculate fixed overhead absorption rate, which is the ratio of budgeted fixed overhead to budgeted hours. then, we will calculate the production volume variance, which is the difference between standard hours and budgeted hours multiplied by fixed overhead absorption rate.
Final answer:
Monroe, Inc. has a production-volume variance of $187.50 unfavorable for April. This variance is calculated by subtracting the applied fixed factory overhead based on the standard direct labor hours allowed from the budgeted fixed factory overhead. The negative result indicates less efficiency in production volume. Option B
Explanation:
To calculate the production-volume variance for Monroe, Inc., we assess the difference between the budgeted fixed factory overhead and the applied fixed factory overhead. The budgeted fixed factory overhead for April is given as $12,000. Since the total overhead application rate per standard direct labor hour is $3.25, and the fixed portion of this is the total rate minus the variable rate ($3.25 - $2.50), this gives us a fixed overhead rate of $0.75 per standard direct labor hour.
Next, we apply this fixed overhead rate to the standard direct labor hours allowed, which totals to $0.75 \* 16,250 hours = $12,187.50 as the applied fixed factory overhead for the production volume actually achieved.
The production-volume variance is then the difference between the budgeted and applied figures: $12,000 (Budgeted) - $12,187.50 (Applied) = -$187.50. This means that Monroe's production-volume variance for April is $187.50 unfavorable, as the company applied more fixed overhead than budgeted due to the production volume, indicating less efficiency.
Compare a hypothetical DVC with a hypothetical IAC. In the DVC, average per capita income is $5000 per year. In the IAC, average per capita income is $40,000 per year. If both countries have a savings rate of 10 percent per year, the amount of savings per capita in the DVC will be $ per person per year, while in the IAC it will be $ per person per year.
Answer:
The amount of savings per capita in the DVC will be $500 per year.
The amount of savings per capita in the IAC it will be $4,000 per year.
Explanation:
- The average savings per capita is calculated as:
* Average per capita income x saving rates.
- Thus, for DVC, amount of savings per capita is calculated as:
* Average per capita income of DVC x saving rates of DVC = $5,000 x 10% = $500.
- and for IAC, amount of savings per capita is calculated as:
* Average per capita income of IAC x saving rates of IAC = $40,000 x 10% = $4,000.
Lucy Corporation purchased and used 129,000 board feet of lumber in production, at a total cost of $1,548,000. Original production had been budgeted for 22,000 units with a standard material quantity of 5.7 board feet per unit and a standard price of $12 per board foot. Actual production was 23.500 units The direct materials quantity vanance is a $63,000 favorable b. $59,400 unfavorable c. $63,000 unfavorable d. $59.400 favorable
Final answer:
The direct materials quantity variance for Lucy Corporation is $59,400 favorable since they used fewer materials than the standard for the actual production level.
Explanation:
The question asks for the calculation of the direct materials quantity variance for Lucy Corporation. This requires understanding standard quantities and prices versus actual figures. The standard quantity for the actual production level (23,500 units at 5.7 board feet each) would be 133,950 board feet. The difference between the standard quantity and the actual quantity used (129,000 board feet) represents a favorable variance if the standard is higher. The standard cost of the variance is calculated as the difference in quantity multiplied by the standard price per board foot.
In this case, the variance is (133,950 - 129,000) board feet × $12 per board foot, amounting to 4,950 board feet × $12 per board foot = $59,400. Since the company used less than the standard quantity, the variance is favorable.
Your grandmother recently surprised you and gave you $15,000 expressly for the purpose of starting your retirement savings. Her only stipulation is that you have to invest the money now, and not touch any of it for the next 35 years (at which point you plan to retire). What will the value of this account be at the end of the 35 years under each of the following return assumptions (assume annual compounding)?
A. 6% per year
B. 10% per year
C. 14% per year
Answer:
A. $115,291.30
B. $421,536.55
C. $1,471,502.67
Explanation:
The expression that describes the final amount of a $15,000 investment compounded annually for 35 years is:
[tex]A = \$15,000*(1+i)^{35}[/tex]
A. 6% per year
i = 0.06
[tex]A = \$15,000*(1+0.06)^{35}\\A = \$115,291.30[/tex]
B. 10% per year
i = 0.10
[tex]A = \$15,000*(1+0.10)^{35}\\A = \$421,536.55[/tex]
C. 14% per year
i = 0.14
[tex]A = \$15,000*(1+0.14)^{35}\\A = \$1,471,502.67[/tex]
In EXtreme Programming (XP) the Customer works very closely with the development team and the development team uses "User Stories" to convey functionality.
A. True
B. False
Answer:
True
Explanation:
this is to ensure deeper understanding.
The statement is true: in Extreme Programming (XP), the customer closely collaborates with the development team, using User Stories to communicate functionality needs. This collaborative approach is a key component of agile methodologies.
The statement that in Extreme Programming (XP) the customer works very closely with the development team and that the team uses "User Stories" to convey functionality is true. This close collaboration is central to agile methodologies, of which XP is a prominent example. The Agile Manifesto reinforces the importance of customer collaboration over contract negotiation, highlighting the necessity for business people and developers to work together daily throughout a project. This approach shifts focus from a traditional contractual relationship to a partnership where the customer plays an active role in the development process, providing valuable input and helping in prioritizing work through direct involvement and communication.
User stories are a concise, simple language tool that allows customers to articulate their requirements without needing a deep knowledge of IT or system development. However, ensuring that the customer is sufficiently knowledgeable and prepared to be involved in this way can be a challenge, but it is crucial for setting sensible priorities and accurately reflecting customer needs within the product. Should a customer be unable or unwilling to participate to the required extent, it might be necessary for someone from the development side to represent the customer's perspective, running the risk that the real user needs might not be fully understood or met.
According to Agile principles, such as those outlined in Extreme Programming, effective communication is paramount, recommending face-to-face conversations as the most efficient way to convey information. The core idea is to integrate customer feedback continuously and iteratively to ensure that the end product delivers business value and meets the evolving needs of the customer, contrasting sharply with the traditional waterfall model, which emphasizes a sequential design process.
Lorenzo just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He's deciding between a Super and a Duper. The Super is priced at $23,599, and the Duper is priced at $18,999. After agonizing over the decision, he decides to buy the Duper. He writes the dealership a check for $4,000 and takes out a loan for the remainder of the purchase price.
Answer:
Please see attachment
Explanation:
Please see attachment
You're traveling in Ireland and are thinking about buying a new digital camera. You've decided you'd be willing to pay $150 for a new camera, but cameras in Ireland are all priced in Euros. If the exchange rate is 0.83 Euros per dollar, what's the highest price in Euros you'd be willing to pay for a camera? A. 124.50 Euros B. 174.70 Euros C. 180.72 Euros D. 128.65 Euros E. 120.35 Euros
Answer:
A. 124.50 Euros
Explanation:
Willingness to pay is can be considered as the consumers’ intent to pay for the product. More deeply, it is the maximum price or less than that maximum price that the consumers will pay and buy that product.
Now, if you have some money and you have willingness to pay for 150$ to buy new camera in Ireland but the case is that in Ireland, the currency is euro not dollar, so you will have to exchange some dollars to euro. You know that 1 dollar equals 0.83 euros and you just want to pay maximum 150 dollars for the camera. After all, it will equal to ==> 150*0.83=124.5 euros. As a result, your willingness to pay for the camera in Ireland will equal to 124.5 euros.
Final answer:
To determine the highest price in Euros the student is willing to pay, multiply their maximum dollar amount ($150) by the exchange rate (0.83 Euros/dollar), resulting in €124.50.
Explanation:
The student is asking about the highest price in Euros they would be willing to pay for a camera in Ireland, given an exchange rate and their maximum dollar amount they are willing to spend. We can calculate this by converting the maximum dollar amount they are willing to spend into Euros using the provided exchange rate of 0.83 Euros per dollar.
To find out how much €150 is worth in dollars, we multiply 150 by the exchange rate:
150 dollars * 0.83 (Euros/dollar) = 124.50 Euros.
Therefore, the highest price in Euros the student would be willing to pay for a camera is €124.50.
if a taxpayer's 2019 household income of $60,000 places the taxpayer at 350% of the federal poverty level, what is the taxpayer's normal expected contribution when calculating the refundable tax credit for which the taxpayer may be eligible under the ppaca to purchase a qualified health plan?
Answer:
The taxpayer's normal expected contribution when calculating the refundable tax credit for which the taxpayer may be eligible under the ppaca to purchase a qualified health plan is $57,000.
Explanation:
With an income of $ 600,000, the tax payer is at 350% of the Federal Poverty Level or FPL, so the normal expected contribution is 9.5% of his income.
The normal expected contribution = 9.5% of his income
= 600000*9.5%
= $57,000
Therefore, The taxpayer's normal expected contribution when calculating the refundable tax credit for which the taxpayer may be eligible under the ppaca to purchase a qualified health plan is $57,000.
When calculating the refundable tax credit for which the taxpayer may be eligible under the ppaca to purchase a qualified health plan, the taxpayer's normal expected contribution is $57,000.
The taxpayer's income is at 350 percent of the Federal Poverty Level, or FPL, thus the normal expected contribution is 9.5 percent of his earnings.
The computation of normally expected contribution (NEC):
[tex]=0.095 \text{ of his income}[/tex]
[tex]=600,000[/tex] × [tex]0.095[/tex]
[tex]= 57,000[/tex]
Note = 9.5% 04 0.095
As a result, when computing the refundable tax credit for which the taxpayer may be eligible under the ppaca to purchase a qualified health plan, the taxpayer's normal expected contribution is $57,000.
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Cash dividends are paid on the basis of the number of shares:
a. authorized.b. issued.c. outstanding.d. outstanding less the number of treasury shares.
Answer:
c. outstanding
Explanation:
The cash dividend is paid on the basis of the outstanding number of shares i.e issued shares minus treasury shares
It can't be paid on the basis of authorized, issued or outstanding less the number of treasury shares . The treasury shares are those shares that are held after buyback and do not retire them.
This dividend paid is reflected in the retained earnings statement which is to be deducted from the net income
The people assigned to your project have high billable rates, and the project budget doesn't provide much of a buffer over your estimated total project cost. Fortunately, the project finish date has some wiggle room. Which measure of progress is most important to track in this situation?
Explanation:
What are all the possible things which we can do in remaining duration are given below. We need not worry about actual duration or start date. We need to consider the remaining date and give out the best possible.
Call for a meeting and do the following:
Step 1: To identify the pending tasks and the person who is responsible
Step 2: Discuss the reason for delay
Step 3: Explain the current scenario
Step 4: Give tight deadlines and motivate the team to keep up the dates
Step 5: Re-insist on the quality factor
Step 6: Place the responsibility on the team shoulder
Step 7: Ask the team to restart with positive thoughts
Steps to be followed after meeting:
Follow up about the datesFollow up on qualityIdentify the need for hand-holdingMotivate throughoutThe measure of progress that is most important to track the budget here is remaining duration.
What is a remaining duration?In a project management, it means the period of expected or required time that is required to complete a particular activity.
When we employ the remaining duration, we need not worry about actual duration or start date, all that is consider is the remaining date to give out the best possible.
Therefore, the Option B is correct.
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The Giving Voice to Values framework distinguishes between organizational and individual values because:
1-Organizational values are influenced by ethical leadership while individual values are influenced by perceptions of organizational values.
2-Organizational values are internal to each individual while individual values are highly visible within the organization.
3-Organizational values are highly visible within the organization while individual values are internal to the very core of individuals.
4-Organizational values create perceptions of ethical leadership while individual values are innate to the individual.
Answer:
The correct answer is 3
Explanation:
GVV stands for Giving Voice to Values is an approach which is very innovative as the drives the leadership development in the business workplace and the education.
It is not regarding the people persuading to be more ethical but concerned that the organizational values should be highly visible in the organization wheras in the individual values, which are internal to the core of the individuals.
Sam comes home from work one day and finds two letters in his mailbox. One is an eviction notice from his landlord,Quinn, telling him he has to be out of the apartmentin 30 days because his barking device has been bothering the other tenants. It also states that Sam was not allowed to conduct a business from his apartment. Sam is angry because he specifically told Quinn that he was working on a new invention, and Quinn had wished him luck. The second letter is from the chain store, demanding that Sam deliver the promised 1,000 units immediately. Specifically,the following critical elements must be addressed:
A. Analyze the elements of this case to determine whether a valid contract exists between Sam and the chain store. Support your response by identifying the elements of a valid contract in your analysis.
B. Assume there is not a valid contract between Sam and the chain store. Analyze the elements of a quasi-contract and a promissory estoppel to determine whetherthe chain store would prevail on a claim of either. Why or why not? Include support for your analysis.
C. Identify the rights and obligations of both the landlord and tenant under a standard residential lease agreement.
D. Based upon those rights and obligations, does Sam’s landlord have groundsto evict? Why or why not?
E. Further, what defenses might Sam raise to an eviction action? Support your response.
Answer:
Consider the following explanations
Explanation:
Answer to the first question:
No valid contract exists between Sam and the chain store. For any contract to be valid, it should come under the purview of law. All the conditions and liabilities must be properly written down and registered and they should be agreed upon by both the parties. Though an oral contract is a valid one, it can be hard to prove the legality of such contract as there are no written legal bindings.
Answer to the second question:
The quasi contract case of the chain store will not prevail, as quasi contract is a contract which is enforced by a court of law upon the parties, whether they may agree to it or not. In this case, court's order was not involved.
Promissory Estoppel helps and affected party to recover from a loss suffered due to one's promise not kept. For legal enforcement, it must have the three elements, promisor, promisee and detriment suffered by the promisee. In this case, the promisee is the chain store which was promised by Sam, the promisor that he will ship 1000 instruments to the chain store. However, he was not able to supply the same because of the eviction notice given by the landlord of Sam. Hence, the detriment is suffered by the Chain store due to promise of Sam which was not kept. This needs to be proved by the chain store in a court with reasonable belief that they have actually suffered losses. If reasonable cause is produced by the chain store they have a strong case on the basis of promissory estoppel.
Answer to the third question:
Rights of landlord:
Access to property for inspection, repair and maintenance.
Timely receipt of rent payment with gradual increase in rent over a period of time.
Collection of security deposit before signing lease agreement.
Can restrict tenant from sub-letting his property.
Can evict tenant if property is damaged or lease contract terms are violated.
Obligations of landlord:
To provide tenant with a property with proper living conditions.
To provide tenant with electric and water supply.
To carry out necessary repair and maintenance of the property for which he is responsible under the contract.
To get the lease agreement registered with proper authority.
To provide the tenant with prior written notice before terminating the contract.
Rights of tenant:
To live a peaceful and happy life. If disturbance occurs due to some neighbor, he can ask them or the landlord to stop or can make a formal complaint.
Entitled for a standard accommodation with electric supply and water supply.
Entitled for privacy and landlord cannot enter his accommodation without his prior permission except in case of emergency.
Entitled for reimbursement for any repairs carried out for which the landlord is responsible.
Right to prior written notice for termination of contract or review in rent.
Obligations of tenant:
Pay the rent on time.
Pay the charges mention in the lease agreement.
Keep the property maintained and in good condition.
To inform the landlord for carrying out any repairs in the property.
To give access to the landlord for inspection, with prior appointment.
To live in a socialized manner without causing disturbance to the landlord and neighbors.
To comply with all the terms and conditions of the lease agreement.
To give prior written notice before evicting the property or ending the lease agreement.
Answer to the fourth question:
Based on the above rights and obligations of the tenant and landlord, Sam's landlord has proper ground to evict Sam from his property. As per the lease agreement, Sam was given the property for residential purpose only and not for carrying out any scientific work or invention. His work was causing nuisance and disturbance to the neighbors which was breach of terms of the lease agreement. Sam was entitled for use of the property only for living and peaceful purposes.
Answer to the fifth question:
Sam can raise his defense that he had told the landlord before signing the lease agreement that he was working on a new invention and at that time landlord never raised any objection. He also never questioned about the type of work that will be carried out by Sam in the rented property. He also did not include the terms in the lease agreement on which Sam was insisting hard, to avoid any future obligations.
Mercury Inc. purchased equipment in 2019 at a cost of $400,000. The equipment was expected to produce 700,000 units over the next five years and have a residual value of $50,000. The equipment was sold for $210,000 part way through 2021. Actual production in each year was: 2019 = 100,000 units; 2020 = 160,000 units; 2021 = 80,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.
Prepare the journal entry to record the sale.
Answer:
See explanation section
Explanation:
We know,
Annual depreciation rate under Units-of-production = Depreciable amount/Overall (expected) production
Given,
Purchase value = $400,000
Residual value = $50,000
Expected production = 700,000 units
Depreciable Amount = $(400,000 - 50,000) = $350,000
Annual depreciation rate = $350,000/700,000
Depreciation rate = $0.50
Thrrefore, Accumulated depreciation from 2019 to 2021 = (100,000 + 160,000 + 80,000)*$0.50
= $170,000
We know, Book value of asset = Cost price - Accumulated depreciation
Book value = $400,000 - $170,000 = $230,000
Again, Loss on sale of equipment = Book value - Sales price
Loss on sale of equipment = $230,000 - $210,000
Loss on sale of equipment = $20,000
The journal entry to record the sale =
Debit Cash $210,000
Debit Accumulated Depreciation $170,000
Debit Loss on sale $20,000
Credit Equipment $400,000
Answer:
YY 2021, disposal of equipment:
Dr Cash 210,000
Dr Accumulated depreciation 170,000
Dr Loss on disposal 20,000
Cr Equipment 400,000
Explanation:
depreciation per unit produced = (cost - resale value) / estimated production = ($400,000 - $50,000) / 700,000 units = $350,000 / 700,000 units = $0.50 per unit
the journal entries should be:
XX 2019, purchase of equipment:
Dr Equipment 400,000
Cr Cash 400,000
December 31, 2019, equipment depreciation:
Dr Depreciation expense 50,000 (= 100,000 units x $0.50)
Cr Accumulated depreciation - equipment 50,000
December 31, 2020, equipment depreciation:
Dr Depreciation expense 80,000 (= 160,000 units x $0.50)
Cr Accumulated depreciation - equipment 80,000
YY, 2019, equipment depreciation:
Dr Depreciation expense 40,000 (= 80,000 units x $0.50)
Cr Accumulated depreciation - equipment 40,000
YY 2021, disposal of equipment:
Dr Cash 210,000
Dr Accumulated depreciation - equipment 170,000
Dr Loss on disposal 20,000
Cr Equipment 400,000