Answer:
the entry is a provision in expenses: 96,000 debit (expenses provisions), 96,000 credit (liabilities accruals)
Explanation:
The total UPC codes that Wynn Company expects to redeem is 360,000. If 120,000 were redeemed, that 240,000 are pending to redeem. In terms of blocks, it means 80,000 pending to purchase and send to customers (240,000/3=80,000). The total net cost for those blocks is $96,000, as follows: total cost = 1.1+0.6-0.5=1.2 and then multiply for the number of blocks: 80,000*1.2 = $96,000. Finally, the entry is a provision in expenses: 96,000 debit (expenses provisions), 96,000 credit (liabilities accruals)
Adjusting entries are considered as a planned part of the accounting process, in order to adjust the extra amount of transaction.
What are Adjusting Entries?
Adjusting entries are essential toward the finish of a bookkeeping period to bring the record exceptionally.
Adjusting Entry:-
Expenses provisions 96,000
To liabilities accruals 96,000
(Being adjusting entry recorded)
Working Note:-
The total UPC codes that Wynn Company expects to redeem is 360,000. If 120,000 were redeemed, that 240,000 are pending to redeem.
In terms of blocks, it means 80,000 pending to purchase and send to customers (240,000/3=80,000).
The total net cost for those blocks is $96,000, as follows: total cost = 1.1+0.6-0.5=1.2 and then multiply for the number of blocks: 80,000*1.2 = $96,000.
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Joni Kingbird Inc. has the following amounts reported in its general ledger at the end of the current year.
Organization costs $24,200
Trademarks 16,500
Discount on bonds payable 37,200
Deposits with advertising agency for ads to promote goodwill of company 12,200
Excess of cost over fair value of net identifiable assets of acquired subsidiary 77,200
Cost of equipment acquired for research and development projects; the equipment has an alternative future use 87,200
Costs of developing a secret formula for a product that is expected to be marketed for at least 20 years 83,400
On the basis of this information, compute the total amount to be reported by Kingbird for intangible assets on its balance sheet at year-end.
Answer:
$93,700
Explanation:
Excess of cost over fair value of net identifiable assets of acquired subsidiary Shall be considered as good will and it will come under the head intangible assets.
Other are considered to be a expense.
Total amount reported for intangible assets:
= Trademarks + Excess of cost over fair value of net identifiable assets of acquired subsidiary
= $16,500 + $77,200
= $93,700
At the end of 2011, the government of China's debt was yen12.2 trillion. (yen is yuan, the currency of China). In 2012, the government spent yen12.7 trillion and ended the year with a debt of yen11.6 trillion. How much did the government receive in tax revenue in 2012? The government received ¥61 trillion in tax revenue in 2012.
Answer:. Y 13.6 trillion
Explanation:. Y
Total debt 2011 12.2 trillion
Expenditures 2012. 12.7
Total. 24.9
Less debts 2012. (11.6)
Balance. 13.6
The goverments spending if not from tax is supposed to increase the debts to Y24.9 trillion it's reduction to Y11.6 trillion means Y13.6 which is the difference was earned from tax to make expenditures.
Final answer:
The government received ¥61 trillion in tax revenue in 2012.
Explanation:
The government received ¥61 trillion in tax revenue in 2012.
To calculate the tax revenue, we need to find the difference between the beginning and the end of the government's debt for that year: ¥12.2 trillion - ¥11.6 trillion = ¥0.6 trillion. This means that the government's debt decreased by ¥0.6 trillion in 2012. The amount of tax revenue received is equal to the decrease in debt, which is ¥0.6 trillion. Therefore, the government received ¥0.6 trillion or ¥61 trillion in tax revenue in 2012.
Suppose selected comparative statement data for the giant bookseller Barnes & Noble are presented here. All balance sheet data are as of the end of the fiscal year (in millions). 2020 2019 Net sales $4,750 $5,501 Cost of goods sold 3,300 3,701 Net income 85 110 Accounts receivable 75 125 Inventory 1,150 1,250 Total assets 2,850 3,250 Total common stockholders’ equity 900 1,121 Compute the following ratios for 2020.
Answer:
See below
Explanation:
The following ratios are calculable with the information.
Profit margin
Margin = Net profit / Sales
2019 = 110 / $5,501 = 1.99%
2020 = 85 / 4750 = 1.79%
Assets Turnover
AT = Sales / Total assets
2019 = 5,501 / 3,250 = 1.69 times
2020 = 4750 / 2850 = 1.66 times
Inventory Turnover
IT = Cost of goods sold / {(opening Inventory + Closing Inventory)/2]
Inventory Turnover for 2020 = 3300 / [(1150+1250)/2]
Inventory turnover = 2.75 times
Gross margin
Gross profit = Gross profit / Sales
2019 = (5501-3701) / 5501 = 32.7%
2020 = (4750-3300) / 4750 = 30.5%
Hope these are what you are looking for.
On December 1, Williams Company borrowed $45,000 cash from Second National Bank by signing a 90-day, 9% note payable. a. Prepare Williams' journal entry to record the issuance of the note payable. b. Prepare Williams' journal entry to record the accrued interest due at December 31. c. Prepare Williams' journal entry to record the payment of the note on March 1 of the next year.
Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $45,000
To Notes payable A/c $45,000
(Being note is issued for cash)
b. Interest expense A/c Dr $333
To Interest payable A/c $333
(Being accrued interest adjusted)
The computation is shown below:
= Principal × rate of interest × number of days ÷ (total number of days in a year)
= $45,000 × 9% × (30 days ÷ 365 days)
= $333
The 30 days is calculated from December 1 to December 31
(C) Interest expense A/c Dr $665.75
Interest payable A/c Dr $333
Notes payable A/c Dr $45,000
To Cash A/c $45,998.75
(Being cash is paid on maturity)
The computation is shown below:
= Principal × rate of interest × number of days ÷ (total number of days in a year)
= $45,000× 9% × (60 days ÷ 365 days)
= $665.75
From January 1 to March 1 it would be 60 days
We assume 365 days a year.
The financial manager for Eastern Bay Brewery is working with the firm's marketing department to bring out a new line of pumpkin ale. The new product development and subsequent production will require a long-term investment of funds by the company. Which of the following sources of financing would be representative of such a long-term funding requirement?
a. Commercial paper
b. Issuance of bonds
c. Line of credit
d. Factoring
Answer:
The correct answer is letter "B": Issuance of bonds.
Explanation:
Firms tend to issue bonds when they need to raise funds to continue with their operations or to start the massive production of a new good. Bonds work like a loan between financial institutions and the companies. Financial institutions, typically banks, agree with the firms in providing an amount of money so that the firm will pay back within a specific time in the long term.
In the aggregate expenditures model if aggregate expenditures equal 800 billion and real GDP equals 600 there is a_________________
A. investment equals –$200 billion.
B. unplanned inventory accumulation equals $200 billion.
C. consumption plus investment equals $200 billion
Answer:
unplanned inventory accumulation equals -$200 billion.
Explanation:
As we know that
Unplanned inventory equals to
= Real GDP - aggregate expenditures
= 600 billion - 800 billion
= -$200 billion
It shows a difference between the real GDP and the aggregate expenditure
Since the real GDP is less than the aggregate expenditure, so the unplanned inventory should come in negative amount else it comes in a positive amount
Assume deflation is occurring in a nation; the implication(s):
Answer:
1) Demand for goods declines
2) Salaries declines
3) Bank loans reduces
4) Buyers' losses increase
5) Wages declines, debts increases
6) Interest rates go to zero
7) Business profits decrease
8) Unemployment increases
Explanation:
There are always reasons to beware of deflation. These are:
1) While consumers are not in a hurry to buy goods in the prospect of falling prices, there is a delay in demand, and demand for goods declines. In addition, prices are falling in response to a declining student.
2) Salary projections are also declining, and consumers are more likely to save than spend money. For example, 70% of US economic growth is based on consumption, which could lead to overall GDP decline in the country.
3) The volume of bank loans is also reduced, as repayment of interest rates that are larger than the loans themselves is not beneficial to the borrower.
4) Buyers are subject to a loss of value over time as the value of the goods they purchase.
5) The higher the debt of the borrower, the worse it is: during deflation, wages are reduced, and debt remains the same.
6) During inflation there is no upper limit of interest rates, and in deflation they go to zero. Banks do not offer 0% credit, and when rates are above zero, banks make money, but borrowers have to make losses here.
7) Companies' profits also decrease during deflation, which results in lower securities prices. This worries private investors who want to keep their profits out of dividends.
8) Unemployment increases while companies' struggles to make a profit, and their wages decrease. These processes have a negative impact on the economy as a whole.
The Fed has decided to expand the money supply, leading to lower interest rates. As a partner in a tech start-up, you react to these lower interest rates by deciding to expand your operations and begin marketing your new artificial intelligence prototype. What impacts would this decision have on the macroeconomy? Choose one or more: A. reducing unemployment B. raising GDP C. decreasing aggregate demand D. increasing the investment part of GDP E. increase net imports
Answer:
A, B and D
Explanation:
Expanding the money supply is an exercise of expansionary monetary policy.
This decision will first allow our tech startup to acquire cheaper loans and expand our operations, this expansion in operations will result in new employment opportunities and hence as a result, unemployment will be reduced assuming this is a general trend in the economy.
This decision also directly reflects an increased investment and hence the GDP on the whole and the investment part of GDP would both increase,
GDP = C + I + G + (X - M), where I = investment.
This change in macro economy will increase aggregate demand due to expansionary effects. Increase in imports is not conclusive as it may or may not happen depending upon the demand state.
Hope this helps.
As a manager of a chain of movie theaters that are monopolies in their respective markets, you have noticed much higher demand on weekends than during the week. You therefore conducted a study that has revealed two different demand curves at your movie theaters. On weekends, the inverse demand function is P = 20 – 0.001Q; on weekdays, it is P = 15 – 0.002Q. You acquire legal rights from movie producers to show their films at a cost of $25,000 per movie, plus a $2.50 "royalty" for each moviegoer entering your theaters (the average moviegoer in your market watches a movie only once).
a) What price should you charge on weekends?
b) What price should you charge on weekdays?
Answer:
11.25; 8.75
Explanation:
On weekends,
Inverse demand function: P = 20 – 0.001Q
On weekdays,
Inverse demand function: P = 15 – 0.002Q
Let quantity demanded tickets on weekend be Q1 and quantity demanded tickets on weekday be Q2,
Profit function:
= [(20 - 0.001Q1) × Q1] + [(15 - 0.002Q2) × Q2] - [25,000 + 2.5(Q1 + Q2)]
For maximizing profit, Differentiating profit w.r.t Q1 and Q2,
⇒ (20 - 0.002Q1) - 2.5 = 0
⇒ (15 - 0.004Q2) - 2.5 = 0
Hence, solving for Q1 and Q2, we get
Q1 = 8,750
Q2 = 3,125
Therefore,
Price during weekends: P = 20 - (0.001 × 8,750)
= 11.25
Price during weekdays: P = 15 - (0.002 × 3,125)
= 8.75
Suppose the government were to replace the income tax with a consumption tax so that interest on savings was not taxed. The result would be that the interest rate
a. and investment both would increase.
b. and investment both would decrease.
c. would increase and investment would decrease.
d. would decrease and investment would increase.
Answer:
d. would decrease and investment would increase.
Explanation:
In a free market mechanism where investment is equal to savings in aggregate level, and interest rate is the consequence of supply and demand of savings, a change in income tax rules would incentivize people to increase the level of savings. An increase in savings would decrease the interest rate
Joe's income is $500, the price of food (F, y-axis) is $2 per unit, and the price of shelter (S, x-axis)is $100. Which of the following represents his budget constraint?
A. 500 = 2F + 100S
B. F = 250 - 50S
C. S = 5 - .02F
D. All of the above.
Answer:
D. All of the above.
Explanation:
We can model his budget constraint by the following first order function.
2F + 100S = 500
In which F is the number of food items that he buys and S is the number of shelters that he pays.
So A. is correct.
If we want to write this equation with F as a function of S, it is also possible:
2F + 100S = 500
2F = 500 - 100S
F = 250 - 50s
So B. is also correct
Writing with S as function of F
2F + 100S = 500
100S = 500 - 2F
S = 5 - 0.02F
So C. is also correct
The correct answer is:
D. All of the above.
Final answer:
Joe's budget constraint, given his income and prices for food and shelter, is correctly represented by equation A. 500 = 2F + 100S, which indicates the combinations of food and shelter he can afford. However, B and C are simply different expressions of A, so the correct answer is D. All of the above.
Explanation:
The correct representation of Joe's budget constraint, given his income and the prices of food and shelter, is A. 500 = 2F + 100S. This equation describes the combinations of food (F) and shelter (S) that Joe can afford. The right-hand side of the equation (2F + 100S) represents total expenditures on food and shelter, with F being the quantity of food at $2 per unit and S being the quantity of shelter at $100 per unit. The left-hand side of the equation represents Joe's total income, which must be equal to his total expenditures if he spends his entire budget.
Choices B and C offer different mathematical expressions, but they are transformations of the original budget constraint and essentially convey the same physical constraint, just in terms of solving for one variable or the other. Therefore, the correct answer is D. All of the above. Each of these equations represents the same trade-offs between F and S that Joe can make, staying within his budget.
the risk that a portfolio's return will underperform the benchmark return is called the ____.
Answer:
tracking error
Explanation:
As per the subject matter of finance, tracking error refers to the risk metric in a stock portfolio related to the portfolio administrator's actively managed funds choices; it shows how strongly a portfolio matches the standard to which it is thoroughly tested.
The most common indicator is perhaps the standard deviation of the portfolio-index return gap.Tracking error relates to the measure of the divergence from the baseline. Tracking error will not take into account risk (return) which is just a market activity feature.
Choose the ideal cost of quality breakdown from the following options.
a. Prevention 15%, Appraisal 35%, Failure 50%
b. Prevention 5%, Appraisal 45%, Failure 50%
c. Prevention 50%, Appraisal 35%, Failure 15%
d. Prevention 25%, Appraisal 50%, Failure 25%
Answer:
The correct option is c.
Prevention 50%, Appraisal 35%, Failure 15%
Explanation:
A quality breakdown should have higher percentage of prevention, follow by Appraisal ,then small percentage of failures due to unforseen occurrences.
Answer:
Options A and B both represent ideal cost of quality (CoQ) breakdowns.
Explanation:
In trying to determine the financial benefit of quality in an organization, certain models can be adopted. One such model is the PAF model.
The PAF model tracks the resources spent in ensuring quality by preventing the occurrence of bad quality, appraising the products and processes and the internal and external costs of failure. It accounts for all of the activities that any typical company would perform in the name of providing good products or services to customers.
Prevention refers to costs associated with preventing a quality problem from occurring in the first place. Typical costs that are included in this category are; training, procedure writing, ISO related costs, and process or equipment automation.
Appraisal refers to any activity aimed at inspecting the quality of the product or service including calibration, instrumentation, and inspection and test personnel.
Internal Failure are those costs associated with recognizing a poor quality characteristic exists BEFORE the product leaves the factory. The most common cost in this category is scrap, followed closely by rework costs.
External failure is failure of a product or service at the delivery point or usage point of the customer. At this point, the product is fully burdened with cost, including transportation and storage costs. Reputation is impacted here too.
[tex]CoQ = Prevention + Appraisal + Failure[/tex]
The point where the sum of Prevention and Appraisal cost is equal to the Failure cost is referred to as minimal or ideal Cost of Quality point.
[tex]Prevention + Appraisal = Failure[/tex]
Clearly, in option A, [tex]15%+ 35% = 50%[/tex]
and in option B, [tex]5% + 45% = 50%[/tex].
The pension plan for GL Inc. requires a contribution to the plan administrator equal to 11% of employee salaries. Salaries were $575,600 for the period. The journal entry to record the pension benefit would include a.a debit to Cash for $63,316. b.a credit to Cash for $63,316. c.a debit to Postretirement Benefit Expense for $63,316. d.a credit to Salary Expense for $63,316.
Final answer:
The correct journal entry to record the pension contribution would be a debit to Postretirement Benefit Expense and a credit to Cash for $63,316, reflecting the pension plan's expense and the outflow of cash, respectively.
Explanation:
The student is dealing with a journal entry related to pension plan contributions in a business setting. With salaries totaling $575,600 and a pension contribution rate of 11%, the calculation for the contribution is $575,600 * 0.11, which equals $63,316.
The correct journal entry to record the employer's contribution to the pension plan would include a debit to Postretirement Benefit Expense for $63,316 and a corresponding credit to Cash for the same amount because the company is incurring the expense now and will be paying the amount to the plan administrator. Hence, the correct answer is: c. a debit to Postretirement Benefit Expense for $63,316.
An employee is dissatisfied with the resolution of an ethical conflict with his supervisor at his place of employment. According to the Institute of Management Accountants, the employee's next step should be to Select one: a. contact the IMA. b. contact the next level of management who is not involved in the ethical conflict. c. make the president of the company aware of the ethical conflict. d. report the incident to the State Board of Accountancy. e. resign from the company.
Answer and Explanation:
b. contact the next level of management who is not involved in the ethical conflict.
Patricia McDonald has determined that the value of her liquid assets is $4,500, the value of her real estate is $148,000, the value of her personal possessions is $62,000, and the value of her investment assets is $73,000. She has also determined the value of her current liabilities is $7,500 and the value of her long term liabilities is $98,000. What is Patricia's net worth?
Answer:
$182,000
Explanation:
Total assets:
= Value of her liquid assets + Real estate + Personal possessions + Investment assets
= $4,500 + $148,000 + $62,000 + $73,000
= $287,500
Total liabilities:
= Current liabilities + Long term liabilities
= $7,500 + $98,000
= $105,500
Net worth:
= Total assets - Total liabilities
= $287,500 - $105,500
= $182,000
Suppose France can produce 9,000 potatoes or 3,000 lemons per day, and that Italy can produce 3,000 potatoes or 3,000 lemons per day. Which of the following statements in this context is true?a.Italy has a comparative advantage in producing potatoes.b.Italy would be willing to trade one lemon for anything greater than one potato.c.Both countries would be willing to trade at a rate of one lemon for one potato.d.France has a comparative advantage in producing lemons.e.France has an absolute advantage in producing lemons
Answer:
a. Italy has a comparative advantage in producing potatoes
Explanation:
Let us compute opportunity costs (OC).
In France,
OC of potato = 3000/9000
= 0.33 lemon
OC of lemon = 9000/3000
= 3 potato
In Italy,
OC of potato = 3000/3000
= 1 lemon
OC of lemon = 3000/3000
= 1 potato
France can produce potato at a lower OC than Italy, so France has comparative advantage in potato. Italy has a comparative advantage in producing lemons.
Trade is mutually beneficial if terms of trade (relative price) lies between the OC.
0.33 < Relative price of potato < 1 lemon, Or
1 potato < Relative price of lemon < 3 potato
Therefore, Italy has a comparative advantage in producing potatoes.
Last year, Buckner & Jones Company incurred the following costs: Direct materials $42,000 Direct labor 63,000 Manufacturing overhead 94,500 Selling expenses 25,200 Administrative expenses 23,100 Buckner & Jones produced and sold 2,060 units at a sales price of $131.25 each. Assume that beginning and ending inventories of materials, work in process, and finished goods were zero. The total period expense was: a.$250,000. b.$24,000. c.$190,000. d.$48,300.
Answer:
Option (D) is correct.
Explanation:
Given that,
Direct materials = $42,000
Direct labor = 63,000
Manufacturing overhead = 94,500
Selling expenses = 25,200
Administrative expenses = 23,100
Buckner & Jones produced and sold 2,060 units at a sales price of $131.25 each.
Total period expense:
= Selling expenses + Administrative expenses
= $25,200 + $23,100
= $48,300
Therefore, the total period expense was $48,300.
The total period expense for Buckner & Jones Company is the sum of selling expenses and administrative expenses, which equals $48,300.
To calculate the total period expense for Buckner & Jones Company, we need to identify which costs are considered period expenses. Period expenses include selling expenses and administrative expenses. According to the given data, the selling expenses are $25,200 and the administrative expenses are $23,100. By adding these two together, we get the total period expense.
Total period expense = Selling expenses + Administrative expenses
Total period expense = $25,200 + $23,100
Total period expense = $48,300.
Therefore, the correct answer is d. $48,300.
By helping communicate about brands, advertising in the era of industrialization made previously unmarked commodities into differentiated product offerings, and ______a. Used electronic commerce to do so b. Created brand marks and identities c. Diminished the growth of wholesalers d. Inhibited the growth of retail chains markers
Answer:
b. Created brand marks and identities
Explanation:
Before industrialization, usual commodities (FMCG - fast moving consumer goods) were unmarked and not connected to a specific brand or image. Sugar was simply referred to as sugar for example, and the same applied to similar products.
Afterward, the notion of brand and brand identity emerged and products became differentiated by brand and company. People started to think and ask questions before buying: "Which brand of sugar should I buy?". The brand usually reflects the consumer's status, social position and preferences.
Final answer:
By helping communicate about brands, advertising in the era of industrialization made previously unmarked commodities into differentiated product offerings and created brand marks and identities. option B
Explanation:
By helping communicate about brands, advertising in the era of industrialization made previously unmarked commodities into differentiated product offerings and created brand marks and identities. This branding evolution was a response to the challenges faced by companies as they grew into national businesses.
Prior to the advent of strong brand identities, regional business expansion by salesmen could lead to inconsistent product quality and pricing, even to the extent of unethical practices like diluting products for personal profit.
The development of national brands offering consistent quality, such as Coca-Cola and Quaker Oats, became essential to corporate reputation and success. As the advertising industry grew, so did the methods of reaching customers. With expanded trade and mass production, businesses vied for consumer attention among a wide array of products.
This led to increased spending in advertising and innovations such as full-page newspaper ads and professional advertising agencies. Moreover, the importance of advertising was reinforced with the rise of print media and the development of television, both of which focused on creating visual connections with consumers through graphic images and recognizable brand logos.
Calculator Atlas Company provided the following information for last year: Operating income $ 92,000 Sales 235,000 Beginning operating assets 410,000 Ending operating assets 440,000 Which of the following is Atlas's return on investment (ROI) for last year? (Note: Round answer to two decimal places.)
a.0.50
b.0.22
c.0.15
d.0.32
e.0.41
Answer:
b.0.22
Explanation:
Return on investment (ROI) = Operating income/ Beginning Operating Asset = $ 92,000/ $440,000 = 0.22
____ leaders cause changes in individuals and social systems.
a. Transactional
b. Transformational
c. Transnational
d. Transregional
Answer:
b. Transformational leader
Explanation:
Transformational leadership in itself is an inspiring leadership style in which the leader encourages teams to identify areas and processes that need change. This enhances innovation and helps to create a vision to guide the change. This type of leader also ensures that the employees are thoroughly trained and gives them autonomy and room to be creative. It is most likely to result in company growth as it discourages complacency.
The negotiation process involves several steps such as: preparing for negotiation; knowing your walk-away point; and working towards a common goal.
a. True
b. False
Answer:
(A) True.
Explanation:
In the negotiation process, there are two parties with different goals that can be incompatible. If the expected outcome is not satisfactory that will be the walk-away point. If it is satisfactory they can adjust theirs positions to achieve a common goal.
The negotiation process can be said to be in four stages, which are:
preparation
opening
bargaining
closure.
The _______________ and the _____________________ along with the Funding Plan should be established early on in the Joint Capabilities Technology Demonstration (JCTD) to ensure that preparations are developed to facilitate movement of the JCTD into the acquisition process. Please choose from below to fill in the blanks.
A. Program Management Office and an Acquisition Strategy
B. Technical Support IPT and a Technical Integration Plan
C. Management Plan and Transition Plan
D. Contracting Officer and an Acquisition Plan
Answer:
The correct answer is A
Explanation:
Program Management Office is a function within a firm or organization, it is defined as the standards of the project management . And its main motive is to make sure that the project and the programs run in a standardized and in repeatable manner.
Acquisition strategy is the strategy or a plan which is comprehensive and integrated plan that is developed as a part of activities of the acquisition planning. It sates the technical, support and business strategies in order to manage the program risks and also to meet the objectives or goals of the program.
Therefore, the Program Management Office and the acquisition strategies with the Funding plan need to be created on the JCTD.
Andrews Corporation uses a process costing system for manufacturing. The following information is available for the February in its Polishing Department:Equivalent units of production—direct materials 110,000 EUPEquivalent units of production—conversion 95,000 EUPCosts in beginning Work in Process—direct materials $49,000Costs in beginning Work in Process—conversion $36,000Costs incurred in February—direct materials $414,000Costs incurred in February—conversion
The cost per equivalent unit of production for conversion is:A. $9.26B. $4.21C. $5.85D. $5.05E. $4.97
Answer:
C. $5.85
Explanation:
The computation of the conversion cost per equivalent unit is shown below:
= (Costs in beginning Work in Process - conversion + Costs in beginning Work in Process—conversion) ÷ (Equivalent units of production -conversion)
= ($36,000 + $520,000) ÷ (95,000 units)
= ($556,000) ÷ (95,000 units)
= $5.85
Simply we divide the total conversion cost by the conversion equivalent units
Where the agreement of the parties is contrary to any of the provisions or standards in a preprinted sales contract, it is BEST to:_____
a. Insert one or more special clauses in an addendum to the contract.
b. Renegotiate the contrary item(s) with the parties to the contract.
c. Line out the particular provision or standard affected.
d. Prepare a nonstandard contract.
Answer: Insert one or more special clauses in an addendum to the contract.
Explanation:
The standard provision are assumed to apply to every contract especially when signed on a pre-printed contract agreement that contains such standards.
In the above scenario the provision of the sales contract in a pre-printed sales contract applied to the parties.
To give validity to the contrary terms an addendum of it has to be added to the standard of the pre-printed sales contract.
Re- negotiating or listen the contrary terms does not give validity to it, neither does preparing a non standard contract.
Given the acquisition cost of product Z is $64, the net realizable value for product Z is $58, the normal profit for product Z is $5, and the market value (replacement cost) for product Z is $60, what is the proper per unit inventory price for product Z?
a. $64.
b. $60.
c. $53.
d. $58.
Answer:
option (d) $58
Explanation:
Data provided in the question:
Acquisition cost of product Z = $64
Net realizable value for product Z = $58
Normal profit for product Z = $5
Market value (replacement cost) for product Z = $60
Now,
Floor Net realizable value = Net realizable value - Normal profit
= $58 - $5
= $53
Proper per unit inventory price for product Z
= lower of [ cost , net reliable value ]
= lower of [ $64 , $58 ]
= $58
Hence,
The answer is option (d) $58
An investor is analyzing the risk of a possible investment by producing three different scenarios. Under a pessimistic scenario, the property would produce a BTIRRp of 8%; a most-likely scenario would produce a BTIRRp of 12%; and an optimistic scenario would produce a BTIRRp of 16%. The investor assigns the pessimistic scenario a 25% chance of occurring, the most-likely case a 60% chance of occurring, and the optimistic scenario a 15% chance of occurring. What is the standard deviation of the returns?
Answer:
Scenario R(%) P ER R - ER (R - ER)2 (R - ER)2.P
Optimistic 16 0.15 24.0 -17.2 295.84 44.376
Most-likely 12 0.60 7.2 -21,2 449.44 269.664
Pessimistic 8 0.25 2.0 -25.2 635.04 158.760
ER 33.2 Variance 472.80
Standard deviation of the return
= √472.80
= 21.74%
Explanation:
The expected return is the product of return and probability. The total expected return is the aggregate of individual expected return. R - ER is the difference between individual return and total expected return. Variance is (R - ER) raised to power 2 multiplied by probability.
Final answer:
The standard deviation of the investment's returns is calculated using the weighted average of the possible returns to determine the expected return, then calculating the variance for each scenario, and finally, taking the square root of the total variance to get the standard deviation.
Explanation:
The student is asking how to calculate the standard deviation of the returns for an investment under three different scenarios with different probabilities. To find the standard deviation, we first calculate the expected return, which is the weighted average of the possible returns, and then use this to calculate the variance and the standard deviation. The expected return E(R) can be calculated as follows:
E(R) = (0.25 × 8%) + (0.60 × 12%) + (0.15 × 16%)Once we have the expected return, we calculate the variance σ1(R) using the formula:
σ1(R) = Σ[probability × (return - expected return)^2]
For each scenario:
Variance for pessimistic scenario = 0.25 × (8% - E(R))^2Variance for most-likely scenario = 0.60 × (12% - E(R))^2Variance for optimistic scenario = 0.15 × (16% - E(R))^2Summing these gives the total variance, from which the standard deviation is the square root.
This process is a measure of risk and represents the volatility or uncertainty of returns from an investment. It's important for the investor to understand this concept, as higher standard deviation indicates greater risk and potential for variance in actual returns.
On their second date, Colby and Mac spend a considerable amount of time talking about their pasts, revealing their likes and dislikes, and exploring their compatibilities. Colby and Mac's interactions are indicative of which stage of relationship development?
contact
involvement
intimacy
dissolution
Answer:
The correct answer is letter "B": involvement.
Explanation:
In the involvement stage of relationships, people share personal information in detail such as past experiences and they start to show each other emotions and feelings. According to specialists, this happens because both parties are measuring the other's interest to find out how far the relationship could go.
1. A simple random sample of size 15 is drawn from a normal population whose standard deviation is assumed to be 8. What's the margin of error if you're going to construct a 95% confidence interval for the population mean?
Answer:
± 4.05
Explanation:
Data provided in the question:
Random sample size = 15
Standard deviation = 8
Confidence level = 95%
Now,
Margin of error is given as:
Margin of error = ± [ ( z × s ) ÷ √n ]
Here,
From standard z table for 95% confidence level z = 1.96
Margin of error = ± [ ( 1.96 × 8 ) ÷ √15 ]
or
Margin of error = ± [ 15.68 ÷ 3.873 ]
or
Margin of error = ± 4.05
The margin of error for constructing a 95% confidence interval for a population mean with a sample size of 15 and a standard deviation of 8 is approximately 4.05.
To find the margin of error for constructing a 95% confidence interval for a population mean when the standard deviation is known, you can use the following formula:
Margin of error (EBM) = Z × (σ / √n)
Where:
Z is the Z-value from the standard normal distribution for a 95% confidence level, which is 1.96.σ (sigma) is the population standard deviation, which is 8 in this case.n is the sample size, which is given as 15.Using these values, you can calculate the margin of error as follows:
EBM = 1.96 × (8 / √15)
First, calculate the standard error:
σ / √n = 8 / √15 ≈ 2.065
Then, calculate the margin of error:
EBM = 1.96 × 2.065 ≈ 4.05
Thus, the margin of error for constructing a 95% confidence interval for the population mean is approximately 4.05.
If your dog normally lives outside your home, which of the following preparedness activities offers the most practical protection when winter storms threaten?
a) Expand the dog house to a larger size so it can hold more heat.
b) Heat dog houses with electric blankets and space-heaters.
c) Insulate dog houses and put straw inside.
d) Allow the dog to sleep on the floor in the garage.
The most practical protection you can do to your dog is: C. Insulate dog houses and put straw inside.
Insulation is the easiest and fastest way among the choices that would really help to keep your dog warm inspite that he lives outside your home.
But if you really want to ensure for the safety of your dog, you let him sleep inside your home until the cold season is over. Dogs are family and they should be kept safe.
Final answer:
The most practical protection for a dog normally living outside in winter storms is to insulate the dog house and add straw, as it traps air to reduce heat loss and allows the dog to maintain body heat safely and steadily.
Explanation:
When preparing for winter storms to protect a dog that normally lives outside, it's important to consider the best methods for retaining heat and providing insulation. The most practical protection in this scenario would be to insulate dog houses and put straw inside (option c). Insulation helps to reduce heat loss and straw is a good material for maintaining warmth. Increasing the size of the dog house (option a) may actually make it harder to keep warm, and heating with electric blankets or space heaters (option b) can present fire hazards and may not be practical for outdoor settings. Allowing the dog to sleep in the garage (option d) could be an alternative, however, insulating the dog house and using straw provides consistent, safe warmth for the animal directly in its usual environment.
Insulation works by trapping air, which is a good insulator, reducing heat transfer through conduction. Similarly, straw also traps air and provides a warm bedding that can help the dog increase its body temperature through natural means such as the dog's own body heat. Thinking of examples where animals seek shelter to maintain body heat can help understand this concept. For instance, on cold nights, animals like horses will sleep under large trees to minimize heat loss. The method of insulation used for a dog house is akin to how well-designed homes maintain warmth with thick insulation.