Answer:
Equivalent units of conversion cost = 317,000 units
Explanation:
The equivalent unit is the notional whole units which represent incomplete work and is used to apportion cost between cost between work in progress and completed units
Item units Equivalent units
Opening WIP 80,000 (80,000× 80%) = 64,000
Fully worked 250,000 (250,000× 100) = 250,000
Closing WIP 30,000 (30,000× 10%) = 3,000
Total equivalent units 317,000.
1. DOC for opening inventory is 80%, that is 100%-20%. Remember that 20% work has been done in the previous period, so the balance is to be done in this current period
2. Fully work represent the units of inventory introduced in the current period and completed in the same period. Meaning 100% work was achieved in October .
3. Closing work is only 10% completed. This represent work started this period but not yet completed.
Multinational corporations operate in locations across the world. Each company has its own motive for its presence in different countries.
Consider the following case:
RTE Telecom Inc. is an American company that produces high-tech electronics. Its managers have decided to move some of its production facilities to Japan in an attempt to circumvent certain governmental regulations. Which of the following best describes the reason RTE Telecom Inc. has decided to go global?
a. To avoid political, trade, and regulatory hurdles
b. To broaden its markets
c. To seek production efficiency
Answer:
a. To avoid political, trade, and regulatory hurdles
Explanation:
The question states that RTE Telecom is opening a production facility in Japan to circumvent governmental regulations. Circumvent means to overcome a problem by going around the problem, in a deceitful way.
This means that RTE is trying to avoid some type of regulation or law either in Japan or the US. Many times MNCs move their operations to foreign countries to pay less taxes, avoid certain trade barriers, or avoid certain laws specially regarding the environment or other negative externalities generated by their production processes.
Tyson Foods is the largest U.S. beef and chicken supplier, processing more than 100,000 head of cattle and 40-plus million chickens weekly. Primary distribution channels are supermarket meat departments. However, the company is now expanding distribution into convenience stores. There are almost 150,000 gas stations and convenience stores where the company would like to sell hot Buffalo chicken bites near the checkout. This is a promising channel, as sales are growing considerably at these retail outlets and profit margins on prepared foods are higher than selling raw meat to grocery stores. Tyson will have to hire fifteen more sales representatives at a salary of $25 comma 000 each to expand into this distribution channel because many of these types of stores are independently owned. Each convenience store is expected to generate an average of $50,000 in revenue for Tyson. If Tyson's contribution margin is 40 percent on this product, what increase in sales will it need to break even on the increase in fixed costs to hire the new sales reps? The increase in the fixed costs is $ nothing. (Round to the nearest dollar.) The increase in sales is $ nothing. (Round to the nearest dollar.)
Answer:
i. Increase in sales to break even is $937,500
ii. Increase in sales is $125,000
iii Increase in fixed cost is $375,000
Explanation:
The increase in fixed deposit is computed as shown below;
=The Salary of each sales representative × The number of sales representative hired
= $25,000 × 15
= $375,000
The increase in sales is computed as ;
= Average revenue ÷ Contribution margin
= $50,000 ÷ 40%
=$125,000
The increase in sales to break even is therefore;
= Increase in fixed deposit ÷ Contribution margin
= $375,000 ÷ 40%
= $937,500
The following schedule relates the income statement with cash flows from operating activities, derived by both the direct and indirect methods. The amounts for income statement elements are missing. Cash Flows from Operating Activities Income Statement Indirect Method Direct Method Net income $ ? Adjustments: Sales $ ? Decrease in accounts receivable 12 Cash received from customers $ 612 Cost of goods sold ? Increase in inventory (24 ) Decrease in accounts payable (36 ) Cash paid to suppliers (420 ) Salaries expense ? Increase in salaries payable 12 Cash paid to employees (66 ) Depreciation expense ? Depreciation expense 18 (Not reported—no cash effect) Insurance expense ? Decrease in prepaid insurance 18 Cash paid for insurance (24 ) Loss on sale of land ? Loss on sale of land 12 (Not reported—no cash effect) Income tax expense ? Increase in income tax payable 12 Cash paid for income taxes (42 ) Net income $ ? Net cash flows from operating activities $ 60 Net cash flows from operating activities $ 60 Required: Deduce the missing amounts and prepare the income statement.
Find the complete income statement and complete table in the attachment.
Help: Income tax = Cash Paid for income taxes + increase in income tax payable
Addison Co. budgets production of 2,750 units during the second quarter. Other information is as follows: Direct labor Each finished unit requires 3 direct labor hours, at a cost of $7 per hour. Variable overhead Applied at the rate of $9 per direct labor hour. Fixed overhead Budgeted at $540,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget.
Answer:
Direct Labor Hours Budget 8250
Direct Labor Costs Budget $ 57750
Factory Overhead Budget $ 614250
Explanation:
We multiply the direct labor hours per unit to the number of units to get the total direct labor hours which are again multiplied with the direct labor cost per hour to get the total direct labor costs.
Addison Co.
Direct Labor Budget
Quarter II
Production units 2750
Direct Labor per unit 3
Direct Labor Hours 8250
Direct Labor Cost / Hr $7
Direct Labor Costs $ 57750
We multiply the direct labor costs with variable overhead per hour to get the variable costs which are added to the fixed costs per quarter to get the total factory overhead budget.
Addison Co.
Factory Overhead Budget
Quarter II
Direct Labor Hours 8250
Variable OH / Hr $ 9
Variable Overheads $ 74250
+Fixed Overheads $ 540,000
Factory Overhead Budget $ 614250
Rocoe Company produces a variety of garden tools in a highly automated manufacturing facility. The costs and cost drivers associated with four activity cost pools are given below: Activities: Unit Level Batch Level Product Level Facility Level Total Cost $40,800 $13,800 $9,600 $50,400 Total Cost Driver Volume 6,800 labor hours 276 set ups % of use 50,400 units Production of 10,000 units of a handheld tiller required 310 labor hours, 40 setups, and consumed 25% of the product sustaining activities. Assuming the company uses activity-based costing, how much total overhead will be allocated to this tool
Answer:
$16,260
Explanation:
The computation of total overhead is shown below:-
Unit level = $40,800 ÷ 6,800 × 310 $1,860
Batch level = $13,800 ÷ 276 × 40 $2,000
Product Level = $9,600 ÷ 100 × 25% $2,400
Facility level = $50,400 ÷ $50,400 × 10,000 units $10,000
Total overhead allocated $16,260
So, for computing the total overhead allocated we simply added the unit level, batch level, product level and facility level.
E11-8 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Abe's Steakhouse is the largest upscale steakhouse company in the United States, based on total company- and franchisee-owned restaurants. The company's menu features a broad selection of high-quality steaks and other premium offerings. Assume the information below is from a recent annual report: a. Common stock, $0.01 par value; 100,090,000 shares authorized; 23,563,356 issued and outstanding at the end of the current year, 23,405,356 issued and outstanding at the end of last year. b. Additional paid-in capital: $192,389,000 at the end of the current year and $170,431,000 at the end of last year. c. Retained earnings / (accumulated deficit): ($80,797,000) at the end of last year. d. In the current year, net income was $54,583,000 and a cash dividend of $7,138,000 was paid. Required: Prepare the stockholders’ equity section of the balance sheet to reflect the above information for the current year and last year. (Amounts to be deducted should be indicated with a minus sign.)
Answer:
Shareholders equity current year last year
Common stock: $235,563.56 $234,053.56
Capital in excess of par value: $192,389,000.00 $170,431,000.00
Retained earnings: -$33,352,000.00 -$80,797,000.00
Total shareholders' equity $159,272,563.56 $89,868,053.56
common stocks last year = 23,405,356 x $0.01 = $234,053.56
common stocks current year = 23,563,356 x $0.01 = $235,563.56
Capital in excess of par value last year = $170,431,000
Capital in excess of par value current year = $192,389,000
retained earnings last year = -$80,797,000.00
retained earnings current year = -$80,797,000 + $54,583,000 - $7,138,000 = ($33,352,000.00)
The Abe's Steakhouse Company will present the stockholders' equity section of the balance sheet as follows:
Stockholders' Equity Section
Current Year Last Year
Authorized Common Stock:
100,090,000 shares at $0.01 par value
23,563,356 shares, issued and outstanding $235,633.56 $234,053.56
Additional paid-in capital $192,389,000 $170,431,000
Retained earnings -$33,397,000 -$80,797,000
Total equity $159,227,633.56 $89,868,053.56
Data Analysis:
Retained earnings brought forward ($80,797,000)
Net income for the current year $54,583,000
Cash dividend paid in the current year ($7,138,000)
Retained earnings for the current year ($33,397,000)
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Mira offered to sell Peter a parking lot for $75,000. The offer was in writing and signed by Mira and provided that any acceptance by Peter must be within 5 days. On the fourth day, Mira accepted a better offer from Dean and transferred the parking lot to Dean on that day. Unaware of this sale, Peter telephoned Mira on the fifth day and accepted Mira’s offer. In an action by Peter against Mira for breach of contract, judgment for whom?
Answer:
Yes the agreement among Mira and Peter is legal because it is in inscription and each have acknowledged the terms of the agreement. It has the agreement of each the parties, a worth set, period is assumed for thought and is in inscription and onward might be a legal agreement. Mira signed the manuscript and then she has to anticipate the five days specified to Peter to finish and if he failed to reply once those 5 days, solely then Mira will select alternative provide. She is absolute to wait and provides the assets to Peter if he approves to the agreement before those five days. Therefore the agreement is effective and Mira is absolute to it.
The judgment would likely go in favor of Peter. Mira's transaction with Dean constituted a breach of contract, as Peter's acceptance on the fifth day was within the deadline specified by Mira.
Explanation:In this case, the judgment would likely go in favor of Peter. When Mira sent Peter the offer, it became a firm offer that couldn't be revoked within the time frame specified, which is 5 days in this case. Even though Mira sold the parking lot to Dean on the fourth day, the contract with Peter was already in existence from the moment Mira made the offer and the transaction with Dean thus constitutes a breach of contract. The acceptance by Peter on the fifth day was within the deadline specified by Mira, so, regardless of the transaction with Dean, Peter can successfully sue Mira for breach of contract.
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Warila Inc. has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.
Work in Process Finished Goods Cost of Goods Sold Total
Direct materials $2,620 $17,280 $44,130 $64,030
Direct labor 1,810 16,140 42,340 60,290
Manufacturing-
overhead applied 2,135 10,200 30,365 42,700
Total $6,565 $43,620 $116,835 $167,020
Manufacturing overhead for the month was underapplied by $1,200.
The Corporation allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the manufacturing overhead applied during the month in those accounts.
Required:
The work in process inventory at the end of September after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to $_____. (Round intermediate calculations to two decimal places.)
Answer:
$6,625
Explanation:
The computation of total Cost of WIP inventories is shown below:-
Manufacturing overhead under-applied = $1,200 × $2,135 ÷ $42,700
= $60
Total Cost of WIP inventories = Direct materials + Direct labor + Manufacturing overhead applied + Manufacturing overhead under-applied
= $2,620 + $1,810 + $2,135 + $60
= $6,625
Therefore for calculating the total Cost of WIP inventories we simply applied the above formula.
The Tinsley Company exchanged land that it had been holding for future plant expansion for a more suitable parcel located farther from residential areas. Tinsley carried the land at its original cost of $30,000. According to an independent appraisal, the land currently is worth $72,000. Tinsley paid $14,000 in cash to complete the transaction. Required: 1. What is the fair value of the new parcel of land received by Tinsley assuming the exchange has commercial substance? 2. Prepare the journal entry to record the exchange assuming the exchange has commercial substance. 3. Prepare the journal entry to record the exchange assuming the exchange lacks commercial substance. 4. Prepare the journal entry to record the exchange except that Tinsley received $9,000 in the exchange, and the exchange lacks commercial substance.
The fair value of the new land parcel Tinsley received is $72,000. The journal entries depend on whether the exchange has commercial substance, and they adjust for any cash paid or received during the transaction.
Explanation:The fair value of the new parcel of land received by Tinsley is the sum of the original cost of the land given up ($30,000) plus the additional cash paid ($14,000), which is $44,000, assuming the transaction has commercial substance. However, because the appraisal value of the land is $72,000, which is higher than the carrying amount plus the cash paid, the fair value of the new land is $72,000.
If the exchange has commercial substance, the journal entry to record the transaction would be:
If the exchange lacks commercial substance and no cash is received, the new land is recorded at the book value of the old land plus any cash paid, and no gain is recognized. The journal entry in this case would be:
If Tinsley received $9,000 in the exchange and the exchange lacks commercial substance, the journal entry would be:
The recognition of a gain is deferred in exchanges lacking commercial substance unless cash is received.
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Lott Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2017, Job No. 50 was the only job in process. The costs incurred prior to January 1 on this job were as follows: direct materials $ 20,000 , direct labor $ 12,000 , and manufacturing overhead $ 16,000 . As of January 1, Job No. 49 had been completed at a cost of $ 90,000 and was part of finished goods inventory. There was a $ 15,000 balance in the Raw Materials Inventory account.
During the month of January, Lott Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $ 122,000 and $ 158,000 , respectively. The following additional events occurred during the month.
1. Purchased additional raw materials of $ 90,000 on account.
2. Incurred factory labor costs of $ 70,000 . Of this amount $ 16,000 related to employer payroll taxes.
3. Incurred manufacturing overhead costs as follows: indirect materials $ 17,000 ; indirect labor $ 20,000 ; depreciation expense on equipment $ 12,000 ; and various other manufacturing overhead costs on account $ 16,000 .
4. Assigned direct materials and direct labor to jobs as follows.
Job No.
Direct Materials
Direct Labor
50 $ 10,000 $ 5,000
51 39,000 25,000
52 30,000 20,000
Answer:
1. N = 840.66 RPM
2. 1023 w
Explanation:
See attached images
Students are going through a three-step process to obtain their ID cards.
Each student will spend 2 minutes at the registration desk before going to
one of three cashiers to pay a fee for the card. After that, he/she will visit one
of four ID processing stations to have his/her picture taken and the ID card
printed. Registration takes 2 minutes. Visits to the cashier and ID processing
station take 10 and 20 minutes respectively. If the demand rate is 0.5 student
per minute, which of the following conclusions can be drawn if resources are
doubled at the processing station?
A. The cashier station becomes the bottleneck.
B. There will be no bottleneck in the process.
C.The processing station becomes the
bottleneck.
D. Registration becomes the bottleneck.
Answer:
The correct answer is both A and C
Explanation:
Solution
Given that:
The Process 1 Registration, Capacity = 0.5 registration per minute (1/2)
The Process 2 Cashier, Capacity = 1*3 / 10 = 3/10 = 0.3 payments per minute
The Process 3 , Photo ID, Capacity = 1*4 / 20 = 0.2 ID per minute
Now
The Time taken for process a unit is minimum of Demand rate / Lowest process capacity
so, the flow rate = 0.2 student per minute or 5 minute per student
Thus,
The total time = 20 * 5 = 100 minutes.
Final answer:
After doubling the resources at the ID processing stations and assuming more efficient processing, the cashier station become the new bottleneck as it now has the longest processing time in the student ID card issuance process.
Explanation:
When considering the three-step process for obtaining ID cards, we look at each time component: registration (2 minutes), cashier (10 minutes), and ID processing (20 minutes). Given that the demand rate is 0.5 student per minute, this means a student arrives every two minutes on average. Doubling the resources at the processing station means that the time per student at that station is potentially halved, assuming that the additional resources are used effectively and there is no downtime or inefficiency introduced.
If the processing time is effectively reduced while the cashier time remains unchanged, the bottleneck - the slowest stage of the process limiting the overall rate - would likely shift. Since registration is still at 2 minutes and the improved processing stations are now more efficient, the cashier station, taking 10 minutes, would become the new bottleneck as it would then be the longest single step in the process.
Therefore, the correct conclusion that can be drawn with the given information is:
A. The cashier station becomes the bottleneck.
C. The processing station becomes the
bottleneck.
The financial reporting carrying value of Boze Music's only depreciable asset exceeded its tax basis by $147,000 at December 31, 2021. This was a result of differences between straight-line depreciation for financial reporting purposes and accelerated depreciation for tax purposes. The asset was acquired earlier in the year. Boze has no other temporary differences. The enacted tax rate is 27% for 2021 and 40% thereafter. Boze should report the deferred tax effect of this difference in its December 31, 2021, balance sheet as:
Answer:
Boze should report the deferred tax effect of this difference in its December 31, 2021, balance sheet as a liability of $58,800
Explanation:
According to the given data Boze Music's only depreciable asset exceeded its tax basis by $147,000 and there is a rate of 40% thereafter.
Therefore, in order to calculate what amount Boze should report the deferred tax effect of this difference in its December 31, 2021, balance sheet, we would have to make the following calculation:
deferred tax liabilty= $147,000×40%
deferred tax liabilty=$58,800
Boze should report the deferred tax effect of this difference in its December 31, 2021, balance sheet as a liability of $58,800
The Bramble Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $55 a night. Operating costs are as follows: Salaries $6,600 per month Utilities $1,100 per month Depreciation $900 per month Maintenance $420 per month Maid service $11 per room Other costs $22 per room Determine the inn’s break-even point in number of rented rooms per month. Break-even point enter the break-even point in number of rented rooms rooms eTextbook and Media Determine the inn’s break-even point in dollars. Break-even point $enter the Break-even point in dollars
Answer:
410 rooms and $22,550
Explanation:
The computation of the break even point and in dollars is shown below:
Break even point in units is
= Fixed cost ÷ (Selling price - variable cost)
where,
Fixed cost is
= Salaries + Utilities + Depreciation + Maintenance
= $6,600 + $1,100 + $900 + $420
= $9,020
And, the selling price is $55
And the variable cost is
= Maid service + other cost
= $22 + $11
= $33
So, the break even point in points is
= ($9,020) ÷ ($55 - $33)
= 410 rooms
And the break even point in dollars is
= 410 rooms × $55
= $22,550
A business traveler joined the Starwood Preferred Guest Program in order to earn points each time he stayed overnight in a Westin or Sheraton hotel. Once he has accumulated enough points, he can trade in his points for a free night's stay. As a member of this program, the traveler receives periodic updates on new hotels and learns of ways to earn additional points. The marketing term that best describes this scenario is:_________.a. relationship marketing. b. customer satisfaction promotion
Answer:
Relationship Marketing
Explanation:
Relationship marketing is a form of marketing that involves building a strong relationship with the customers, It is focuses mainly on long term goals which helps to strengthen the brand loyalty.
Relationship marketing helps to create a positive awareness of the product to the customers, this form of marketing also enables the marketer to understand the customers better.
Customers that have a strong relationship with the brand can help in the expansion of the business by introducing the products to other people e.g. friends and family members.
Shrives Publishing recently reported $14,500 of sales, $5,500 of operating costs other than depreciation, and $1,250 of depreciation. The company had $3,500 of bonds that carry a 6.25% interest rate, and its federal-plus-state income tax rate was 35%. During the year, the firm had expenditures on fixed assets and net operating working capital that totaled $1,550. These expenditures were necessary for it to sustain operations and generate future sales and cash flows. What was its free cash flow
Answer:
i think the answer is 7
Explanation:
It is frequently possible to test the physical inventory prior to the balance sheet date whenA.the internal control system is no better at year-end than at an earlier point in time. B.the client counts inventory at interim dates. C.the perpetual inventory records are accurate and related controls operate effectively. D.year-end sales are small.
Answer: C.the perpetual inventory records are accurate and related controls operate effectively
Explanation: When the perpetual inventory records are accurate and related controls operate effectively, it is frequently possible to test the physical inventory prior to the balance sheet date. An auditor will generally decide whether the inventory count can be taken before year-end primarily on the basis of accuracy of the perpetual inventory master files.
Imagine you have been assigned a semester-long project in one of the courses you are enrolled in the university. It has been two months since you began and you have completed half of the work on the project.
Write a progress report to your instructor using the memo format to update him about the progress on the project.
Answer:
Student: Eastern University Student
Semester: Fall 2020
Supervisor: Mr. Michael Elhawaha
Introduction
I began my research work with respect to Alcoholism and Social Affiliation on 10th of March, 2020.
I have since
created my hypotheses with regard to the above topic which reads: People who are social drinkers are more likely to have better social and business networks than those who don'tcreated my research questions. They are 10 in number. Each question is designed to determine whether or not one is a social drinker, a heavy drinker or not a drinker at all. the question also speaks to how much drinking is considered heavy or social drinking. Two of the questions relate to how much socialising each person does per week. I have already forwarded the documents to your box for appraisal and corrections.Whilst waiting for your revert, I'm doing an extensive secondary research online on same topic to see what has been done and what hasn't. I have about 8 books by different authors that who have done some work on social drinking and it's effects.
I'm hopeful that these will help to add flesh to my research and that their works and findings will help me weave a strong background against which I will publish my findings.
If there is any information you'd like for me to furnish you with on my progress, I'd be happy to provide them at your request.
Cheers!
Zoe Daizymandias
Pacific Ink had beginning work-in-process inventory of $762,960 on October 1. Of this amount, $313,920 was the cost of direct materials and $449,040 was the cost of conversion. The 57,000 units in the beginning inventory were 25 percent complete with respect to both direct materials and conversion costs. During October, 120,000 units were transferred out and 39,000 remained in ending inventory. The units in ending inventory were 75 percent complete with respect to direct materials and 35 percent complete with respect to conversion costs. Costs incurred during the period amounted to $2,956,500 for direct materials and $3,737,220 for conversion. 1.value: 20.00 pointsRequired information Compute the costs of goods transferred out and the ending inventory using the weighted-average method.
Answer:
Cost of goods transferred =$6,388,147.07
Cost of ending inventory=$1,068,478.93
Explanation:
Equivalent unit of material = (120,000× 100%)+(39,000×75%)=149250
Cost per unit of material = Total cost /Total equivalent unit
=(313,920 +2,956,500)/149250 =21.912
Cost per conversion cost
Equivalent unit of conversion cost
= (120,000 × 100%) + ((39,000×35%)= 133,650
Cost per unit of conversion cost
= ($3,737,220 + $449,040)/133,650 = 31.322
Cost of goods transferred = 120,000× (21.912 + 31.322)= 6,388,147.07
Cost of Inventory = (75%*39,000×21.912)+(35%× 39,000×31.322)
= 1,068,478.93
Cost of goods transferred =$6,388,147.07
Cost of ending inventory=$1,068,478.93
=
Here I Sit Sofas has 8,000 shares of common stock outstanding at a price of $103 per share. There are 960 bonds that mature in 39 years with a coupon rate of 7.7 percent paid semiannually. The bonds have a par value of $2,000 each and sell at 113 percent of par. The company also has 6,900 shares of preferred stock outstanding at a price of $56 per share. What is the capital structure weight of the debt?
Answer:
0.64189
Explanation:
The computation of capital structure weight of the debt is shown below:-
Equity market value = number of shares × Price per share
= 8,000 × $103
= $824,000
Current debt value =Number of bonds × Price per bond
= 960 × (1.13 × $2,000)
= $2,169,600
Preferred stock value = Number of shares × Price per share
= 6,900 × $56
= $386,400
Total capital = Common equity value + Debt value + Preferred stock value
= $824,000 + $2,169,600 + $386,400
= $3,380,000
Weight of debt = Debt value ÷ Total capital
= $2,169,600 ÷ $3,380,000
= 64.18% or 0.64189
So, for computing the weight of the debt we simply applied the above formula.
A result of this country allowing international trade in crude oil is as follows: a. The effect on the well-being of the country is unclear in that domestic producer surplus increases, while the effect on domestic consumer surplus is unclear. b. The effect on the well-being of domestic crude-oil consumers is unclear in that they now buy more crude oil, but at a higher price per barrel. c. domestic consumers lose by more than domestic producers gain. d. The well-being of domestic crude-oil producers is now higher in that they now sell more crude oil at a higher price per barrel.
When a country allows international trade in crude oil, domestic producers often gain by selling more at higher prices, while domestic consumers may face higher prices, affecting their consumer surplus. The overall national well-being is complex and depends on various factors, including the success of producers and the ability of consumers to afford higher prices.
Explanation:The question you've asked pertains to the effects international trade, specifically in crude oil, has on consumer and producer surplus within a country. If a country allows international trade in crude oil, different economic outcomes can be expected:
With the introduction of international trade, domestic producers of crude oil may experience higher well-being as they are able to sell more oil at potentially higher prices on the global market, increasing their producer surplus.Domestic consumers might face higher prices due to global demand, which can lead to a reduction in their consumer surplus. However, they may benefit from a greater variety in supply and potentially more stable supply conditions.The overall effect on national well-being is complex and can vary. Successful producers in the country may see gains as they become part of a global supply chain, potentially increasing production and employment. However, some domestic consumers may face higher prices and reduced consumer surplus.It's important to note that while trade can lead to overall efficiency gains and increased total surplus in an economy, not all groups within the country will necessarily benefit equally, leading to winners and losers in different sectors of the economy. In any instance of introducing trade, considerations of both consumer surplus and producer surplus are essential to evaluate the net effect on societal welfare.
Which of the following statements is correct?
A. A spam will send a network packet that appears to come from a source other than its actual source.
B. SOC 1 reports provide the evaluations on a broader set of controls implemented by the service provider.
C. Fault tolerance uses redundant units to provide a system with the ability to continue functioning when part of the system fails.
D. Multi-factor authentication is less secure than requiring a user always entering a password to access a network.
Answer:
opton c: fault tolerance uses redundant units to provide a system with the ability to continue functioning when part of the system fails
Explanation:
Fault tolerance on a system is simply defined as a key feature that makes a computer system to continue with its operations even though there is a system failure on one part or a specific part of the system. A computer that is said to be fault tolerant system will operate well/ fine, after one of the power supplies fails,
A fault tolerant system is known to have no occurrence of Single point of failure, No single point repair takes the system down, fault isolation or identification and Fault containment, robustness or variability control
. Consider an economy that can produce two goods, apples and blue jeans. Each worker can produce 3 units of apples or 4 units of blue jeans per week. Suppose that when this economy is opened to trade, the price of apples is $10 per unit and the price of blue jeans is also $10 per unit. Suppose as well that each consumer spends one quarter of his/her income on blue jeans, and that there are 1 million workers in this economy. a. Construct the budget line for a typical worker in this economy. Explain how you arrived at the value of intersection with each axis. b. What does this economy export under trade, and how much does it export of it?
Answer:
ATTACHED GRAPH
It export jeans. it will export 3/4 of their production and keep the 1/4 for internal use.
1,000,000 jeans consumed --3,000,000 exported--
3,000,000 apples imported
Explanation:
The economy will export the good with the lower opportunity cost:
do 3 apple cost 4 jeas with a cost of $10 each total = 40
do 4 jean cost 3 apples with a cost of $10 each total = 30
The economy will focus in jeans and export to later purchase apple in the market.
Therefore will produce 4 jeans and sale them all to get 4 apple (X-axis intersection)
Or will produce 4 jeas and keep them (Y-Axis intersection)
That is produce 4 jeans x 1,000,000 worker = 4,000,000
And then, consume 1/4 = 1,000,000
and export the rest 3,000,000
Sharon knew that her established customers preferred her product much better than the one sold by her primary competitor. As Sharon was planning to expand into new markets, she was considering her pricing options. Over time and several discussions with customers, Sharon was leaning toward charging a higher price than competitors. She thought that the higher price would help demonstrate that hers was a high-quality product. Sharon was considering Group of answer choices
A. a top of market strategy.
B. the value of quality.
C. advantageous pricing.
D. premium pricing.
E. differential pricing.
Answer:
Premium pricing
Explanation:
Premium pricing can be defined as a pricing strategy in which the price of a product is increased. This increase in price is done against the competitors to create the perception that the high priced products have a greater quality.
Premium pricing is used at the inception of a new product into the market. It is utilized by various companies to maximise profit because the customers are willing to pay more money, to prevent competitors from entry into the market.
Answer:
its A trust me
Explanation:
On January 2, 2017, Lester Company, a calendar-year company, issued $40,000 of notes payable, of which $5,000 is due on January 2 for each of the next eight years the first payment is due January 2, 2018). The proper balance sheet presentation on December 31, 2017, is
a. Current Liabilities, $40,000.
b. Current Liabilities, $5,000; Long-Term Liabilities, $35,000.
c. Long-Term Liabilities, S40,000.
d. Current Liabilities, $35,000; Long-Term Liabilities, $5,000.
Answer:
The correct option is C)
Explanation:
The $ 40,000 must be recorded in full as at 31st December 2017 given that the first tranch of $5,000 is not yet due until 2nd January 2018.
It may be recognised as follows on December 31st 2018:
Current Liabilities: $5,000
Long-Term Liabilities: $35,000
Because as at that time, the $5,000 would have been paid (all factors remaining constant) while the $35,000 is recognised as payable in future.
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A bicycle manufacturer wants to know how many bicycles it must sell to break even. The break-even point (i.e. number of bicycles) is found by dividing total fixed expenses by: A) the contribution margin ratio percentage. B) the variable expenses dollar amount per bicycle. C) the sales price dollar amount per bicycle. D) the contribution margin dollar amount per bicycle.
Answer:
The contribution margin dollar amount per bicycle.
Explanation:
The break-even point refers to the point in which the costs and the earnings are equal which means that you don't lose or gain money. To calculate the break-even point on units, you have to divide the fixed costs by the contribution margin and the contribution margin is equal to the price of the product per unit minus the variable costs per unit.
According to this, the answer is that the break-even point (i.e. number of bicycles) is found by dividing total fixed expenses by: the contribution margin dollar amount per bicycle.
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Question 2
Using the information from Georgia's government and your economic knowledge, compose a two-to three-paragraph
email message to the governor's economic advisors that analyzes the economic impact of price controls. Your email
message should address these points:
Why does the government implement price controls? Be creative and come up with a specific example of the two
situations you listed in question 1.
• What types of goods or services do price controls cover? Tailor your response to the situation you are describing.
• Is this price control a price floor or a price ceiling?
• Who or what would benefit or be harmed by these price controls?
• Based on the overall benefit or harm to society and the economy, justify your opinion on whether the price control is
a benefit or hindrance to the economy.
Be sure to use proper grammar as well as a topic sentence and introductory and concluding statements.
Answer:
This is the sample answer
Explanation:
After a natural disaster, such as a major hurricane, there is increased demand for gasoline, lumber, bottled water, clothing, and other essential goods as people try to replace and rebuild what was lost. At the same time, the supply of these goods likely decreases because of disruptions to factories and transportation. Under normal market conditions, producers would raise their prices at the first sign of trouble, both to offset their own losses from the disaster and to obtain optimal profits.
However, people who have lost everything need to start rebuilding as soon as possible at a price they can afford to pay. The sooner the community is rebuilt and back to normal, the sooner the local economy will return to normal for both consumers and producers. For this reason, I think the government should introduce price ceilings on essential goods during a disaster. Many people would not be able to buy the goods they need without price ceilings. Although producers lose out on maximizing their profits, their actual losses are limited because they are allowed to raise prices to cover production and transportation costs driven up by the disaster.
Because citizens benefit so greatly from them, I think emergency price ceilings are beneficial to the economy as long as producers do not suffer significant losses from them.
Price controls are implemented by the government to regulate the prices of certain goods or services. They can be a benefit or a hindrance to the economy depending on the specific situation. One example is the implementation of price controls on water during a severe drought, which can protect consumers but harm some suppliers.
Explanation:Price controls are implemented by the government to regulate the prices of certain goods or services. They can be used to stabilize prices, protect consumers, or support specific industries. For example, during a time of severe drought, the government may implement price controls on water to ensure that it remains affordable for everyone, thus protecting the welfare of the population.
The types of goods or services that price controls cover can vary depending on the situation. In the case of the water shortage example, price controls would cover the price of water usage and potentially related products like water filters or bottled water.
In this scenario, the price control would be a price ceiling because it sets a maximum price that cannot be exceeded. Consumers would benefit from the price control as it ensures that water remains affordable during the drought. However, some suppliers or businesses may be harmed if they are unable to charge higher prices to cover production costs.
Based on the overall benefit or harm to society and the economy, the price control in this example can be seen as a benefit to the economy. It helps maintain access to an essential resource for the population while protecting vulnerable consumers from excessively high prices. However, it's important to consider the potential long-term effects and unintended consequences of price controls.
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Zeller Company estimates that 2017 sales will be $40,000 in quarter 1, $48,000 in quarter 2, and $58,000 in quarter 3. Cost of goods sold is 50% of sales. Management desires to have ending finished goods inventory equal to 10% of the next quarter’s expected cost of goods sold. Prepare a merchandise purchases budget by quarter for the first 6 months of 2017.
Answer and Explanation:
As per the data given in the question,
Quarter
1 2 6 month
Budgeted cost of goods sold (40,000×0.50) (48,000×0.50) $44,000
$20,000 $24,000
Add: Desired ending inventory (24,000×0.10) (58,000×0.10) $8,200
$2,400 $5,800
Total required units $20,000+$2,400 $24,000+$5,800 $52,200
$22,400 $29,800
Less: Begin. merchandise inv. $20,000×0.10 $24,000×0.10 $4,400
$2,000 $2,400
Budgeted purchase $20,400 $27,000 $47,800
Final answer:
This answer provides a detailed explanation of how to prepare a merchandise purchases budget for the first six months of 2017 based on the given sales and cost information.
Merchandise Purchases Budget for the First 6 Months of 2017:
Quarter 1: Purchases = ($40,000 x 50%) + (Quarter 2 expected cost of goods sold x 10%)
Quarter 2: Purchases = ($48,000 x 50%) + (Quarter 3 expected cost of goods sold x 10%)
Quarter 3: Purchases = ($58,000 x 50%) + (Quarter 4 expected cost of goods sold x 10%)
Last year, Arbor Corporation reported the following: Balance Sheet Total Assets $ 1,040,000 Total Liabilities 660,000 Total Shareholders' Equity $ 380,000 This year, Arbor is considering whether to issue more debt to fund a $100,000 project or to issue additional shares of common stock. Both options will bring in exactly $100,000. Arbor's current debt contracts contain a debt covenant that requires it to maintain a debt-to-equity ratio of 2.00 or less. Required: 1. Calculate Arbor's current debt-to-equity ratio. (Round your answer to 2 decimal places.)
Answer:
Arbor's current debt-to-equity ratio = 1.74
Explanation:
Given:
Total assets : $1,0400,000
Total liabilities : $660,000
Total Shareholders' Equity: $380,000
To calculate the current debt to equity ratio.
It is calculated as:
Total liabilities / Total Shareholders equity.
Therefore, the current debt to equity ratio will be :
$660,000/$380,000 = 1.74
Therefore, Arbor's current debt-to-equity ratio = 1.74
State Road Fabricators Inc. is considering eliminating Model A02777 because of losses over the past quarter. The past three months of information for Model A02777 are summarized below: Sales (1,100 units) $470,000 Manufacturing costs: Direct materials 160,000 Direct labor ($15 per hour) 80,000 Overhead 150,000 Operating loss ($80,000) Overhead costs are 75% variable and the remaining 25% is depreciation of special equipment for model A02777 that has no resale value. If Model A02777 is dropped from the product line, operating income will ________.
Answer :
The operation will decrease by $117,500
Explanation :
As per the data given in the question,
State road Fabricators Inc.
Income Statement
Particulars Amount
Sales $470,000
Less: Manufacturing cost
Direct materials $160,000
Direct Labor $80,000
Overhead Variable part $112,500 ($150,000 × 75%)
Operating income $117,500
Working notes
1) In overhead cost only variable part ($112,500) will be considered for decision
hence, variable cost of overhead is relevant cost.
2) Fixed part of overhead cost ($150,000*25% = $37,500) is unavoidable s it is a sunk cost.
3) Company should not drop the product line.
Mattress Wholesalers, Inc. is constantly trying to reduce inventory in its supply chain. Last year, cost of goods sold was $7.537.53 million and inventory was $1.551.55 million. This year, costs of goods sold is $8.638.63 million and inventory investment is $1.631.63 million. a) What was its weeks of supply last year? nothing weeks (round your response to two decimal places).
Answer:
Weeks supply = 10.70 million (Approx)
Explanation:
Given:
Last year, cost of goods sold = $7,537.53 million
Last year Inventory = $1,551.55 million
Computation:
Average cost of sold good on week basis = Cost of goods sold / Total number of weeks
Average cost of sold good on week basis = $7,537.53 million / 52
Average cost of sold good on week basis = 144.96 million
Computation of weeks supply:
Weeks supply = Last year Inventory / Average cost of sold good on week basis
Weeks supply = $1,551.55 million / 144.96 million
Weeks supply = 10.70 million (Approx)