Answer:
2.64%
Explanation:
It requires application of basic time value of money function
n = 17
FV = $308,700
PV = $198,300
FV = PV * (1 + r)n
$308,700 = $198,300 * (1 + r)^17
$308,700 / $198,300 = ($198,300 * (1 + r)^17) / $198,300
1.556732 = (1 + r)^17
Taking 17th root of equation
1.0264 = 1 + r
r = 2.64%
2. The Jasmine Tea Company purchased merchandise from a supplier for $43,338. Payment was a noninterest-bearing note requiring Jasmine to make six annual payments of $8,000 beginning one year from the date of purchase. What is the interest rate implicit in this agreement
Answer:
3%
Explanation:
Given the following :
Purchased merchandise = $43,338
Number of payments required = 6
Payment per period = $8,000
PV factor (PVIFA) = (purchased merchandise / payment per period)
PVIFA = (43,338 / 8000) = 5.41725
Using the PVIFA table, we locate the interest rate on PVIFA factor of 5.41725 for a period of 6 years.
For PVIFA of 5.4172, the interest rate is 3%
Hence the implicit Interest t rate = 3%
PVIFA = [1 - (1+r)^-n] ÷ r
If policy-makers want gasoline to be produced from corn-based ethanol, why would they have to subsidize it?
a) because automobiles run better on gasoline produced from ethanol
b) because food prices are lower when gasoline is produced from corn-based ethanol
c) because gasoline would not be produced if it was not subsidized
d) because it is costlier to produce gasoline from corn-based ethanol than from petroleum
Answer:
d) because it is costlier to produce gasoline from corn-based ethanol than from petroleum
Explanation:
Government subsidize certain industries because they want to increase the production and consumption of specific goods or services. In this case, if the government wants to increase the production of gasoline produced from ethanol, it must enable ethanol producers to be able to make a profit while selling their product. Or the government might subsidize the consumers by lowering the selling price, which would encourage more consumers to use ethanol based gasoline.
The whole reasoning behind the government having to subsidize either the producers or consumers of ethanol based gasoline is that the costs of producing it are higher than the costs of producing oil based gasoline. If it wasn't so, there would be no reason to subsidize it, the market would act by itself.
What is the after-tax cost of debt for a firm if it pays at 21% of tax rate, and pays 15% on its debt
Answer:
= 11.85%
Explanation:
After tax cost of debt = (1 - tax rate) x debt
(1 - 0.21) x 15%
0.79 x 15% = 11.85%
Using personal computers in auditing may affect the methods used to review the work of staff assistants because
Answer:
Audit documentation may not contain readily observable details of calculations.
Explanation:
This is because unlike paper based working documentation which tend to details each of the cost or expenses and profits made, utilizing personal computers in auditing may influence the techniques used to review the work of staff assistants because oftentimes using audit documentation may not comprise readily noticeable elements of calculations.
Hence, in this case, the correct answer is: Audit documentation may not contain readily observable details of calculations.
Personal computers in auditing can have an effect on the methods used because audit documentation may not contain readily observable details of calculations.
What is auditing?Auditing simply means an on-site verification activity like the inspection of a process or quality system, in order to ensure compliance to requirements.
The purpose of an audit is simply to form a view on whether the information that are presented in the financial report reflects the financial position of the organisation at a particular date.
Audit documentation simply means the principal record of auditing procedures applied, the evidence obtained, and conclusions that are reached by the auditor in the engagement.
In this case, the use of personal computers in auditing may affect the methods that are used to review the work of staff assistants.
In conclusion, the type, and content of audit documentation are matters of the professional judgement of the auditor.
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The process of developing budget estimates by requiring all levels of management to estimate sales, production, and other operating data as though operations were being initiated for the first time is referred to as:
Answer:
Zero-based budgeting
Explanation:
Zero-based budgeting is a method of expenses to be incurred must be justified and approved within each new period.
It is called zero based budgeting because at the beginning of every period budgeting starts at a zero base. Needs and cost attached to every function are are analysed afresh and funds allocated accordingly.
This process does not consider previous fund allocation to the function, rather it assumes sales, production, and other operating data as though operations were being initiated for the first time.
The following information pertains to the Moonlight Company pension plan:Employer contribution.............. $2,800Project benefit obligation at 1/1 ....... $72,000Assumed discount rate.......... 10%Service cost for the year....... 18,000Pension benefits paid during the year.... 35,000If no change in actuarial estimates occurred during the year, Moonlight's projected benefit obligation at December 31 of the current year was:_________a. $62,200b. $65,000c. $79,200d. $82,200e. $59,400
Answer:
$62,200
Explanation:
Moonlight's projected benefit obligation can be calculated by deducting the Pension benefits paid by the sum of the estimate of projected benefit obligation and Service Cost and Discount Factor.
the estimate of projected benefit obligation = $72,000
Discount Factor ( 10% of 72,000 ) = $7,200
Service cost = $18,000
Total = $97,200
Benefit paid = ( 35,000)
Projected benefit Obligation Dec 31 = $62,200
Simon Company’s year-end balance sheets follow.At December 31 2017 2016 2015Assets Cash $ 36,335 $ 42,472 $ 42,524 Accounts receivable, net 107,459 73,568 56,120 Merchandise inventory 139,163 102,226 60,994 Prepaid expenses 12,179 11,377 4,773 Plant assets, net 333,281 312,096 273,889 Total assets $ 628,417 $ 541,739 $ 438,300 Liabilities and Equity Accounts payable $ 159,605 $ 89,723 $ 59,013 Long-term notes payable secured bymortgages on plant assets 120,505 123,354 94,927 Common stock, $10 par value 162,500 162,500 162,500 Retained earnings 185,807 166,162 121,860 Total liabilities and equity $ 628,417 $ 541,739 $ 438,300 The company’s income statements for the years ended December 31, 2017 and 2016, follow.For Year Ended December 31 2017 2016Sales $ 816,942 $ 644,669 Cost of goods sold $ 498,335 $ 419,035 Other operating expenses 253,252 163,101 Interest expense 13,888 14,827 Income taxes 10,620 9,670 Total costs and expenses 776,095 606,633 Net income $ 40,847 $ 38,036 Earnings per share $ 2.51 $ 2.34 Calculate the company’s long-term risk and capital structure positions at the end of 2017 and 2016 by computing the following ratios.(1) Debt and equity ratios. Debt Ratio 1 Choose Denominator: Choose Numerator: = Debt Ratio Debt ratio 2017: 2016: Equity Ratio Choose Denominator: Choose Numerator: = Equity Ratio Equity ratio 2017: 2016:(2) Debt-to-equity ratio. Debt-To-Equity Ratio 1. Choose Denominator: Choose Numerator: Debt-To-Equity Ratio Debt-to-equity ratio to 1 2017: 2016: - = = = 1 1 to 1(3) Times interest earned. Times Interest Earned 1 Choose Denominator: Choose Numerator: Times Interest Earned Times interest earned times 2017: 2016: times
Answer:
(1) Debt Ratio in 2017 = 44.57%; Debt Ratio in 2016 = 39.33%; Equity Ratio in 2017 = 55.43%; and Equity Ratio in 2016 = 60.67%.
(2) Debt-To-Equity Ratio in 2017 = 80.42%; and Debt-To-Equity Ratio in 2016 = 64.83%.
(3) Times Interest Earned in 2017 = 4.71 times; and Times Interest Earned in 2016 = 4.22 times.
Explanation:
(1) Calculation of debt and equity ratios
Debt ratio is a ratio that is used to measure the ability of a company to pay off its liabilities with its assets. Debt ratio can be calculated using the following formula:
Debt Ratio = Total Debt / Total Assets
We can then calculate as follows:
Total debt = Accounts payable + Long-term notes payable secured by mortgages on plant assets
Total debt in 2017 = $159,605 + $120,505 = $280,110
Total debt in 2016 = $89,723 + $123,354 = $213,077
Total assets in 2017 = $628,417
Total assets in 2016 = $541,739
Debt Ratio in 2017 = $280,110 / $628,417 = 0.4457, or 44.57%
Debt Ratio in 2016 = $213,077 / $541,739 = 0.3933, or 39.33%
Equity ratio is a ratio that is used to measure the amount of assets of a company that are financed by the investments of the owners of the company. Equity ratio can be calculated using the following formula:
Equity Ratio = Total Equity / Total Assets
We can then calculate as follows:
Total equity = Common stock, $10 par value + Retained earnings
Total equity in 2017 = $162,500 + $185,807 = $348,307
Total equity in 2016 = $162,500 + $166,162 = $328,662
Equity Ratio in 2017 = 0.5543, or 55.43%
Equity Ratio in 2016 = 0.6067, or 60.67%
(2) Calculation of debt-to-equity ratio.
The debt-equity ratio provides the proportion of financing of a company that is contributed by creditors and investors. Debt-equity ratio can be calculated using the following formula:
Debt-To-Equity Ratio = Total Debt / Total Equity
Using the data in part (1) above, we can then calculate as follows:
Debt-To-Equity Ratio in 2017 = $280,110 / $348,307 = 0.8042, or 80.42%
Debt-To-Equity Ratio in 2016 = $213,077 / $328,662 = 0.6483, or 64.83%
(3) Calculation of times interest earned
The times interest earned ratio is a ratio that is used to determine the proportionate amount of income that that is required to cover interest expenses. The times interest earned ratio can be calculated using the following formula:
Times Interest Earned = Earnings before interest and tax (EBIT) / Interest expenses
We can then calculate as follows:
EBIT = Sales - Cost of goods sold - Other operating expenses
EBIT in 2017 = $816,942 - $498,335 - $253,252 = $65,355
EBIT in 2016 = $644,669 - $419,035 - $163,101 = $62,533
Interest expenses in 2017 = $13,888
Interest expenses in 2016 = $14,827
Times Interest Earned in 2017 = $65,355 / $13,888 = 4.71 times
Times Interest Earned in 2016 = $62,533 / $14,827 = 4.22 times
Residual Income = $23000 Operating income = 49,998 Cost of Capital = 12% What is return on investment?
Answer:
Return on investment = 27.35 %
Explanation:
Below is the given information.
Residual Income = $23000
Operating income = 49,998
Cost of Capital = 12%
Now calculate the invested amount. Here, below is the calculation of the investment amount.
Invetment amount = (Operating income- Residual income) / Cost of capital
= (49998 - 23000) / 12%
= $ 224983
Now calculate the return on investment by using below formula.
The Return on investment = (operating income ÷ investment)×100
=(49998 / 224983) × 100
= 22.22 %
Return on investment = 27.35 %
"I'll let you sell the Harley-Davidson designer clothes only if you'll also sell a new line of clothes designed by Paula Abdul, too." This statement made by a salesperson to a specialty retailer is potentially an example of _______ and may be in violation of the Clayton Act prohibition if the action substantially lessens competition.
Answer:
B)tie-in sales.
Explanation:
Theses are the options for the question;
A. misrepresentation.
B. tie-in sales.
C. reciprocity.
D. price discrimination.
E. kickbacks
From the question, we are informed about a statement ""I'll let you sell the Harley-Davidson designer clothes only if you'll also sell a new line of clothes designed by Paula Abdul, too."
This statement made by a salesperson to a specialty retailer is potentially an example of tie- sales and may be in violation of the Clayton Act prohibition if the action substantially lessens competition.
It should be noted that tie - in sales in finance means that when a cusumer buys a goods he/she must buy the other product, it simply means the products are tied, and this is opposite of Clayton Act which was set up to bring end to transactions that can lead to monopolies.
Famous Farm's payables deferral period (PDP) is 50 days (on a 365-day basis), accounts payable are $100 million, and its balance sheet shows inventory of $125 million. What is the inventory turnover ratio
Answer:
5.84
Explanation:
The formula for inventory turnover is
= Cost of goods sold / Inventory
However, we need to calculate first sales, using PDP equation, which is given as;
PDP = Receivables / [ Cost of goods sold / 365 ],
Alternatively,
Cost of goods sold =
365 [Payables] / DSO
Where ;
Payable = $100m
DSO = 50 days
Inventory = $125m
= (365 * $100) / 50
= $730m
Recall inventory turnover = Cost of goods sold / Inventory
= $730m / $125m
= 5.84
The horizontal aggregation of the individual labor supply curves for workers in a given location is known as the
Answer:
market supply of labor
Explanation:
The description provided is for a term known as the market supply of labor. In the context of economics, this term refers to the number of individual workers of a specific trait and with a specific skill level who supply their labor for varied prices. When dividing this by type of work it is the horizontal summation of the individuals' labor supply curves as can be seen in the graph shown attached.
Step Number Step in the Process As your personal circumstances change, redefine your goals and revise your plans and strategies. Develop and use financial statements to evaluate the results of your plans and budgets. Develop and implement budgets to control your progress toward your goals. Implement your financial plans and strategies. Define your financial goals. Develop the financial plans and strategies needed to achieve those goals.
Explanation:
Here are the steps in chronological other:
(1) Define your financial goals.
(2) Develop the financial plans and strategies needed to achieve those goals.
(3)Develop and use financial statements to evaluate the results of your plans and budgets.
(4) Develop and implement budgets to control your progress toward your goals.
(5) Implement your financial plans and strategies.
(6) As your personal circumstances change, redefine your goals, and revise your plans and strategies.
The fact that less than half of all equity fund managers beat the market in most years indicate that the stock market is _____.
Answer: largely efficient
Explanation:
The fact that less than half of all equity fund managers beat the market in most years indicate that the stock market is largely efficient.
According to the strong-form hypothesis of the efficient market, when there is an efficient market, all the private and public information would be reflected in the prices of the stock.
In which of the following choices are both the stock and options positions on the same side of the market?
A. Long call/long stock
B. Short call/long stock
C. Long put/short stock
D. Short put/short stock
Answer:
A. Long call/long stock
C. Long put/short stock
Explanation:
These two stock options are beneficial in the bull markets also they are for the same side i.e. the upside. The short call is when profitable when the market declines while on the other hand the long call should be when the market boost
Like this, the short put and short stock dealed with
And, the long put is profitable when the market declines and the short stock is profitable when the market declines
Therefore the option A and C is correct
Explain how economic forces such as employment, income, prices, interest rates, and consumer confidence influence the purchasing decisions you make as a consumer.
Answer:
Economics forces are the factors which consumer willingness and ability to buy goods and services.eg. interest rate, employment,income ,prices,consumer confidence. let us discuss factors one by one
Employment:employment effect the purchasing power, because if you are employed then you have steady income and have much disposable income to spend and a vice a versa will happen if you are unemployed
INCOME: Income is most important factore to determine consumer purchasing decisions. if your income is high then consumer is ready to spend on everything and vice a versa will happen if income is low.
PRICES: Prices also effect the consumer decisions. because if prices of a commodity is high than consumer is not willing to buy that commodity . in simple if prices rises quantity demanded by consumer decreses and if prices decresing quantity demanded by consumer increses
INTEREST RATES:Interst rate influences the cost of borrowings, lower the interest rate ,people are willing to borrow more to spend. while increasing interst rates makes borrowing more costly then people are not willing to spend and move in favour of savings.
CONSUMER CONFIDENCE:If a consumer is confident for future risk and income effect consumer decision.high level of consumer confidence effect consumer willingness to make major purchases like cars laptop etc overall demaand for consumer goods are incresing.and a vice a versa will happen if consumer are not sure for future and income
'Economic Forces' are characterized as the factors that directly affect the demand and supply chain in the economy.
The rise or fall in employment opportunities directly determines the demand for a specific good. If the consumer is earning well, his purchasing power would increase and he will purchase more and vice versa happens if he doesn't have an employment opportunity.Similarly, a rise in income will cause a hike in demand and enhance the purchasing power while a fall in income may restrict it. The interest rates and prices of goods are inversely proportional to the demand for a specific good or service in the market. The lower the price, the higher the demand, and the higher the price, the lower the demand. Consumer Confidence is also an important aspect because if a consumer is assured of his/her financial lookouts, he/she would purchase more but if their confidence is low, they might opt to save and demand less.Learn more about 'Economic Forces' here:
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Carver Company manufactures a component used in the production of one of its main products. The following cost information isavailable:
Direct materials: $410
Direct labor (variable): $110
Variable manufacturing overhead: $90
Fixed manufacturing overhead: $30
A supplier has offered to sell the component to Carver for $650 a unit. If Carver buys the component from the supplier, the released facilities can be used to manufacture a product that would generate a contribution margin of $20,000 annually. Assuming that Carver needs 3,000 components annually and that the fixed manufacturing overhead is unavoidable, what would be the impact on operating income if Carver outsources?
A. Operating income would decrease by $100,000
B. Operating income would incrase by $120,000
C. Operating income would decrease by $20,000
D. Operating income would increase by $20,000
Answer:
A. Operating income would decrease by $100,000
Explanation:
The computation is shown below:
(Amount in dollars, commas)
Particulars Per unit 3000 units
Make Buy Make Buy
Direct materials 410 1230000
Direct labor 110 330000
Variable
manufacturing
overhead 90 270000
Opportunity cost 20000
Purchase cost 650 1950000
Total cost 1850000 1950000
As we can see that the operating income is decreased by $100,000
You can afford monthly payments of $3,100. Current mortgage rates are 3.45% for a 30-year fixed rate loan. You are required to make a 20% down payment and have the cash to do it. What price home can you afford? g
Answer:
$868,331.25
Explanation:
price of house = P
principal of loan = P x (1 - 20%) = 0.8P
using the present value of an annuity formula:
present value of the loan = monthly payment x annuity factor
monthly payment = $3,100
annuity factor (PV, 0.2875%, 360 periods) = 224.0854839
present value of the loan = $3,100 x 224.0854839 = $694,665 = 0.8P
total value of the house = P = $694,665 / 0.8 = $868,331.25
Assume Baldwin is producing 713 units of Beetle next year. What would Beetle's plant utilization be?
Please find attachment, question slightly varies but mostly only by different figures and product used
Answer:
95% for answer in figures in attachment, 84% for question using figures above
Explanation:
Using figures from attachments, assuming Baldwin's products are Beetles
The plant capacity is 850 units for next round
Plant utilization if 808 units of Beetles are produced =
808/850*100=0.9506(to four decimal places)
95%( option C)
Plant utilization if 713 units of Beetles are produced=
713/850*100=0.8388(to four decimal places)
84%(using values from above)
___________________ are contracts that enforce expectations and responsibilities between two parties. They usually require a service, such as 24 hour support, to be performed in a timely and reliable manner to allow for agreed actions to be taken.
Complete Question:
_________________ are contracts that enforce expectations and responsibilities between two parties. They usually require a service, such as 24 hour support, to be performed in a timely and reliable manner to allow for agreed actions to be taken.
Group of answer choices
A. Security measures
B. Incident Response Plans
C. Business Continuity Plans
D. Service Level Agreements
Answer:
D. Service Level Agreements.
Explanation:
Service Level Agreements are contracts that enforce expectations and responsibilities between two parties. They usually require a service, such as 24 hour support, to be performed in a timely and reliable manner to allow for agreed actions to be taken.
Generally, a service level agreement (SLA) is usually between a service provider and its customers (end users).
In order to define and provide satisfactory service, organizations that provide services are expected to implement a service level agreement and it should comprise of the following parameters; responsibilities, expectations, metrics, time and frequency.
An example of a service level agreement is the mean time between failures (MTBF), mean time to repair or mean time to recovery (MTTR) which is generally used by telecommunications firms and internet service providers (ISP) for their respective customers.
Why is it important to note the exact variety of fresh produce desired, instead of merely noting the type of item needed
Answer and Explanation:
There are various reasons to make it significant which are as follows
1. As there are many different varieties are provided in the fresh produce which enables the several options for the manufacturer
2. Now if the items that are on the demanded are to be noted down so this indicates that these are only supplied no innovation is there
3. As it deals in different varieties so there are chances of high varieties in the same kind of product
4. The customer same demand could be met out by providing varieties of products
5. Also if the company offered varieties in the products that attract the customer and the demand could rise
6. With the help pf noting down the company could maximize its sales that result in maximize in its profits
Sea and Sand has a maximum 14 feet of front shelf space to devote to the four beverages combined. Tommy wants to use a minimum of two feet and a maximum of seven feet of front shelf space for each beverage. The contribution margin per case for Limeade is:
Answer:
$5.40
Explanation:
Calculation for the contribution margin per case for Limeade
First step is to find the Variable cost per case of Limeade using this formula
Variable cost per case of Limeade = Variable manufacturing cost per case + Variable selling cost per case
Variable cost per case of Limeade= 12.20 + 4
Variable cost per case of Limeade= $16.20
Now let calculate for Contribution margin per case for Limeade using the formula
Contribution margin per case for Limeade = Selling price per case of Limeade - Variable cost per case of Limeade
Contribution margin per case for Limeade= 21.60 - 16.20
Contribution margin per case for Limeade= $5.40
Therefore the Contribution margin per case for Limeade will be $5.40
Effective collaboration depends solely on implementing more collaborative software.
A. True
B. False
Answer:
B. False
Explanation:
This is the case because there are other strategies to achieve effective collaboration in teams rather than depending solely on implementing more collaborative software.
For example, instead of implementing new software, a manager can organize individual tasks for his employees, or even start a program of rewarding good performance among employees, etc
Refer to the Zumba Corporation data above. Compute the current ratio: Then compute the quick ratio
.51
1.20
1.98
.98
The balance sheet at December 31, 20X1 for Zumba Corporation (in thousands of dollars) follows:
Current Assets:
Cash and Cash Equivalents$ 2
Accounts Receivable, net 4,800
Inventories 2,200
Prepaid Rent 898
Total Current Assets 7,900
Land, Buildings and Equipment, net 7,400
Investments 500
Total Assets $15,800
Current Liabilities:
Accounts Payable $ 500
Current Portion Long-Term Debt 2,500
Accrued Salaries Payable 1,000
Total Current Liabilities 4,000
Long-Term Debt 8,000
Total Liabilities 12,000
Stockholders' Equity:
Common Stock 2,800
Retained Earnings 1,000
Total Stockholders' Equity 3,800
Total Liabilities and Stockholders' Equity $15,800
Additional information follows:
* Net income for the year ended December 31, 20X1 is $2,020.
* Cost of goods sold for the year ended December 31, 20X1 is $4,400.
* Accounts Receivable, net on January 1, 20X1 are $4,400.
* Total assets on January 1, 2X17 are $20,000.
* Net credit sales for the year ended December 31, 20X1 are $14,600.
Answer:
B) 1.20
Explanation:
To find the current ratio we will divide current assets with current liabilities and find the quick ratio we just need to deduct inventory and prepaid expense from current assets in the same current ratio formula.
Data
Current assets = $7,900
Prepaid rent = $898
Inventory = $2,200
Current liabilities = $4,000
Solution
Current ratio = current asset/curremy liability
Current ratio = $7900/$4000
Current ratio = 1.975
Quick ratio = current asset - Inventories -prepaid rent / current liability
Quick ratio=$7,900-$2,200-$898/$4,000
Quick ratio = 1.20
What is commercial cooking?
Answer:
Commercial Cooking- Commercial cooking operations are defined as kitchens that have cooking equipment that produces grease and grease-laden vapors. This includes flat grills, char broilers, and deep fat fryers.
Answer:
Commercial cooking is cooking on a large scale for money (commerce). Generally a commercial kitchen will have large-scale cooking apparatuses. In example I could be use side by side Tilt Grills, one searing 50 pounds of meat, while boiling 20 pounds of pasta in the other. 300 slices of bacon cooking in the ovens, and 30 gallons of stew in one of the tilt-kettles. On another wall I might have a mixer, mixing 30 pounds of cake batter, and 10 gallons of chile cooking in one of the small tilt kettles. I did generally get some help though, lol.
During an election year, why would a senator want to determine a mode?
This is the answer from E D G E N U I T Y and it is A.to determine which issue is most important to the general public
Have a nice day or night! uwu
Answer:
to determine which issue is most important to the general public
Explanation: I took the test and I got help from my teachers!!
Who Are Better Drivers? Do you consider yourself a "better" driver than most other drivers? Do you believe that men and women might answer this question differently? Discuss how you might collect information to test the following conjectures. For each conjecture, state specifically the null H0 and alternative HA hypotheses that would be of interest.
(a) Conjecture: More than 70% of male drivers think they are "better" drivers than most other drivers.
(b) Conjecture: Fewer than 70% of women drivers think they are "better" drivers than most other drivers.
(c) Conjecture: The percentage of male drivers who think they are "better" drivers than most other drivers is higher than the corresponding percentage for women drivers.
Answer:
Yes, men and women will answer this question differently.
Explanation:
The null and alternative hypothesis of interest for each conjecture would be:
(A) Conjecture: More than 70% of male drivers think they are "better" drivers than most other drivers.
H0: Less than 70% of male drivers are better drivers than most other drivers
HA: More than 70% of male drivers are better drivers than most other drivers
(B) Conjecture: Fewer than 70% of women drivers think they are "better" drivers than most other drivers.
H0: More than 70% of women are better drivers than most other drivers
HA: Fewer than 70% of women are better drivers than most other drivers
(C) Conjecture: The percentage of male drivers who think they are "better" drivers than most other drivers is higher than the corresponding percentage for women drivers.
H0: There is a lower % of male drivers who think they are better than most other drivers than the corresponding % for female drivers
HA: There is a higher % of male drivers who think they are better than most other drivers, than the corresponding % for female drivers
NOTE: In A and B, you measure the actual percentage of male and female drivers who are good at driving but in C, you measure the percentage of male drivers who think they are better than most other drivers and compare it to the percentage of female drivers who think they are better than most other drivers.
According to the Ending Inventory Report, how would you calculate the cost of Sales? Ending Inventory Report Administrative Salaries $ 100,000Amortization Expense $ 20,000 Beginning Inventory $ 75,000 Ending Inventory $ 60,000Office Supplies Expense $ 25,000 Purchases $ 125,000Travel & Entertainment Expense $ 5,000 A) 575,000 + 125,000 - 560,000 B) 5125,000 - 520,000 C) 575,000 + 125,000 - 560,000 + 520,000 D) 575,000 - 560,000 E) 575,000 + 125,000 - 560,000 - 520,000
Answer:
A. $575,000 + $125,000 - $560,000
Explanation:
According to the ending inventory report, cost of sales would be calculated as follow;
Cost of sales = Beginning inventory + Purchase - Ending inventory
Cost of sales = $575,000 + $125,000 - $560,000
Based on the costs incurred by the business, the cost of sales can be calculated to be A) $75,000 + 125,000 - $60,000
Cost of sales is found by:
= Beginning inventory + Purchases - Ending inventory
In the above:
Beginning inventory = $75,000Purchases = $125,000Ending inventory = $60,000Cost of sales is therefore:
= 75,000 + 125,000 - 60,000
In conclusion, option A is correct
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The following information is available for Fuller Manufacturing Company for the month ending October 31:__________.
Cost of direct materials used in production $1,323,600
Direct labor 1,680,000
Work in process inventory, October 1 455,300
Work in process inventory, October 31 378,100
Total factory overhead 3,544,200
Determine Fuller Manufacturing's cost of goods manufactured for the month ended October 31.
Answer:
Fuller Manufacturing's cost of goods manufactured for the month ended October 31 is $6,625,000.
Explanation:
Prepare a Cost of Goods Manufactured Schedule as follows :
Direct Materials $1,323,600
Direct labor $1,680,000
Total factory overhead $3,544,200
Add Opening Work in process inventory $455,300
Less Closing Work in process inventory ($378,100)
Cost of Goods Manufactured $6,625,000
Sky invests $90,000 today and receives a future value 8 years from now of $120,000. Interest is compounded twice per year. Her stated annual interest rate is _____ for this twice-a-year compounded investment.
Answer:
Annual interest rate= 3.63%
Explanation:
The rate of return earned on the investment can be worked out using the Future value of a lump sum formula.
The future value of a lump sum is the amount lump would amount to if interest is earned and compounded at a certain interest rate.
The formula is
FV = PV × (1+r)^(n)
PV = Present Value- 90,000
FV - Future Value, - 120,000
n- number of period- 8× 2 = 16 (note interest is compounded twice a year)
r- interest rate per period - ?
120,000 = 90,000× (1+r)^16
1+r)^16= 120.000/90,000= 1.333
(1+r)^16= 1.333
1+r= 1.333^(1/16)
r =1.333^(1/16) -1 = 0.01812
r =0.01812× 100= 1.812%
Bi-annual interest rate = 1.812%
Annual interest rate = Bi-annual rate × 2
Annual interest rate = 1.812% × 2 =3.63%
Annual interest rate= 3.63%
Maggie and Nate enter into a contract for the sale of a 1967 Ford Mustang, but Nate later refuses to deliver the car. Maggie asks a court to order Nate to perform as promised. Ordering a party to perform what was promised is
Answer:
an equitable remedy
Explanation:
Ordering a party to perform what was promised is an equitable remedy. This term refers to when there is an absence of law or regulation for a certain scenario, thus granting the judge authority to make the decision of what the law should be in that particular scenario. Therefore in a scenario like this one the judge can decide for himself/herself if they will make Nate perform what was promised or not.