Answer: Services to consumers.
Explanation:
The physical store is more beneficial to meet the needs of the customers to obtain the sports gear. The store is more effective in maintaining the relationship quality between consumers and Evo. Utilitarian values are maintained by shopping at the physical store instead of shopping online. Thus, e-commerce or web-based business proved to be ineffective at delivering services to consumers.
A notorious spendthrift, who was usually broke for that reason, received the following letter from his uncle, a wealthy and prudent man: "I understand you're in financial difficulties again. I promise to give you $5,000 on your birthday next month, but you'd better use it wisely or you'll never get another dime from me." The spendthrift thereupon signed a contract with a car dealer to purchase a $40,000 automobile and to make a $5,000 down payment on the day after his birthday. If the spendthrift sues the uncle for $5,000 after the latter learned of the car-purchase contract and then repudiated his promise, which of the following is the uncle's best defense?
A. A promise to make a gift in the future is not enforceable.
B. Reliance by the promisee on a promise to make a future gift does not make the promise enforceable unless the value of the promised gift is substantially equivalent to the promisee's loss by reliance.
C. Reliance by the promisee on a promise to make a future gift does not make the promise enforceable unless that reliance also results in an economic benefit to the promisor.
D. Reliance by the promisee on a promise to make a future gift does not make the promise enforceable unless injustice can be avoided only by such enforcement.
Answer:
D. Reliance by the promisee on a promise to make a future gift does not make the promise enforceable unless injustice can be avoided only by such enforcement.
Explanation:
Promissory estoppel is the legal doctrine that is used to enforce promises, but in order for a promise to be enforceable, some requisites must exist:
the promise must be clear and concrete ✓the promisee must act as a consequence of the promise ✓the promisee's expectations about receiving the gift are reasonable ✓not fulfilling the promise will result in an injury to the promisee XRequisite number 4 does not exist in this case, therefore, the promise is not enforceable.
Why is there an inherent conflict between planning and control uses of budgets?
Answer:
The main conflict that results between planning and control use of budgets is that managers might place their own personal interests before the interests of the company. This might result in budgets that are easily achievable (resulting in bonuses) or shifting income from one period to another in order to achieve certain budgets that will result in bonuses.
I will use a real life example that happened to me to explain this. I worked as a B2B sales representative for a large corporation (we were only 2 B2B salespeople + 1 manager) and when sales were slowing down, upper management would set up bonuses for achieving certain sales goals. The problem was that intentionally certain large sales that required management's approval were delayed and total sales would fall. Then suddenly the bonus show sup and all the large sales were approved and in two weeks the sales goals were achieved. Since B2B sales are not about selling to a lot of customers, but instead selling to the right customers a lot of products, a couple of delayed big sales made a huge difference and a 1% bonus meant changing your old car for a new one.
A company's income statement showed the following: net income, $134,000; depreciation expense, $30,000; and gain on sale of plant assets, $4,000. An examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $9400; merchandise inventory increased $18,000; prepaid expenses increased $6,200; accounts payable increased $3,400. Calculate the net cash provided or used by operating activities.
A. $141,000.
B. $96,600.
C. $156,60o.
D. $88,600.
E. $148.600.
Answer:
E. $148,600
Explanation:
Cash flow from operating activities.
Net income. $134,000
Add: Depreciation. $30,000
Less: Gain on sale ($4,000)
Changes in working
Capital
Add: decrease in
Accounts receivable $9,400
Less: increase in
Merchandise inv. ($18,000)
Less: increase in
Prepaid expenses ($6,200)
Add: increase in
Accounts payable $3,400 ($14,600)
Net cash provided used by $148,600
Operating activities
A broker-dealer that is registered in Illinois and that is not registered in any other State may effect transactions in securities:
Answer: with any existing customer who is a resident of Illinois and is on vacation anywhere in the United States.
Explanation:
A broker-dealer is an economic agent that purchases and also sells securities for either its own account or transacts on behalf of its customers.
A broker-dealer that is registered in Illinois and that is not registered in any other State may effect transactions in securities with any existing customer who is a resident of Illinois and is on vacation anywhere in the United States.
Suppose you deposit $1,682.00 into and account 4.00 years from today into an account that earns 5.00%. How much will the account be worth 18.00 years from today
Answer:
FV= $3,330.25
Explanation:
Giving the following information:
Initial investment= $1,682.00
Number of periods= 14 years
Interest rate= 5% compounded annually
To calculate the future value, we need to use the following formula:
FV= PV*(1+i)^n
PV= present value
i= interest rate
n= number of years
FV= 1,682*(1.05^14)
FV= $3,330.25
The defect rate for data entry of insurance claims at Sadegh Kazemi Insurance Co. has historically been about 1.50%. This exercise contains only parts a, b, c, d, and e. a) If you wish to use a sample size of 200, the 3-sigma control limits are:
Answer and Explanation:
Data provided in the question
defect rate i.e. [tex]\bar p[/tex] = 1.50%
the sample size = n = 200
Now
[tex]S_p = \sqrt{\frac{\bar p (1 - \bar p)}{n} } \\\\= \sqrt{\frac{1.50\% (1 - 1.50\%)}{200} }[/tex]
= 0.008595057
Now the 3 sigma control limits is
UCL_p = [tex]\bar p[/tex] + 35p
= 0.015 + 3 (0.008595057 )
= 0.04078517
LCL_p = [tex]\bar p[/tex] - 35p
= 0.015 - 3 (0.008595057 )
= 0
hence, the 3 sigma control limits are UCL 0.04078517 and LCL 0 respectively
The management of ABC Corporation is alarmed by their operating losses. They are considering dropping the B product line. The company accountants have prepared the following analysis to help make this decision.
Answer:
When you keep selling you will have a loss of $14000
And when you do not sell Product B you will have a profit of $ 8000.
So It is advisable to drop Product B.
Explanation:
ABC Corporation
Income Statement
Total A B
Sales 930,000 575,000 355,000
Variable Costs 507,000 267,000 240,000
Contribution Margin 423,000 308,000 115,000
Fixed Costs
Manufacturing 375,000 225,000 150,000
Selling & Administrative
62,000 45000 17000
Total F. Costs 437,000 270,000 167,000
Opertng Income (loss)(14000) 38,000 (52,000)
ABC Corporation
Differential Analysis
Keep Selling Does Not Difference
Keep Selling Variances
Sales 930,000 575,000 (355,000)
Var. Costs 507,000 267,000 240,000
C. M 423,000 308,000 (115,000)
Fixed Costs
Manufacturing 375,000 255,000 120,000
Selling &
Administrative 62,000 45000 17000
Total F. Cost 437,000 300,000 137,000
Oprting. P (loss) (14000) 8,000 (22,000)
We see that when the company is selling Product B it has a loss of $ 14000 and when it does not sell Product B it has a profit of $ 8000. Therefore it is advisable to stop selling product B. If we look at the variances the Sales revenue decreases by $ 355,000 and so do the variable costs by $ 240,000.There is a decrease in the Contribution Margin but there is an increase in the net income so the Product B must not be sold.
A company is considering several investment opportunities. The investments have been evaluated using payback period and break-even time. Only one project will be chosen and time value of money is important. The company should choose the project which the:_______.
Answer:
Break-even time is the shortest
Explanation:
Break-even time is an investment time base measurements which is used to evaluate the amount of time required before the present value of the net cash flows from an investment equals its initial cost. Thus, in this the project, the project with shortest break even time should be chosen by the company since time value of money is considered.
Fama and French (1992) found that the stocks of firms within the highest decile of book-to-market ratios had an average annual return of _______, while the stocks of firms within the lowest decile of book-to-market ratios had an average annual return of ________. Group of answer choices 13.2%; 16.4% 11.1%; 17.2% 15.6%; 13.1% 17.2%; 11.1%
Answer:
1. 17.2%
2. 11.1%
Explanation:
In a research study carried out by Fama and French in 1992 titled "The Cross‐Section of Expected Stock Returns." Their findings showed that the stocks of firms within the highest decile of book-to-market ratios had an average annual return of 17.2%, while the stocks of firms within the lowest decile of book-to-market ratios had an average annual return of 11.1%
Hence, the correct answer to the question is: 17.2% and 11.1% respectively.
During September, the capital expenditure budget indicates a $520000 purchase of equipment. The ending September cash balance from operations is budgeted to be $67000. The company wants to maintain a minimum cash balance of $35000. What is the minimum cash loan that must be planned to be borrowed from the bank during September?
Answer:
$488,000
Explanation:
He capital expenditure balance indicates a $520,000 purchase of equipment.
September ending cash balance is budgeted at $67,000
The company wants to maintain a minimum cash balance of $35,000
Therefore the minimum cash loan to be borrowed from the bank can be calculated as follows
= $520,000-$67,000+$35,000
= $488,000
Hence, the minimum cash loan that must be planned to be borrowed from the bank during September is $488,000
Answer:
the minimum cash loan that must be planned to be borrowed is $418,000.
Explanation:
The Cash Budget is prepared to highlight times for cash surpluses - allowing arrangements for investments of those surpluses to gain maximum return.
The Cash Budget also highlight times for Cash deficit - allowing for short term alternative sources of finance.
September Cash Budget Reconciliation :
Purchase of Equipment $520,000
Less Cash Balance ($67,000)
Less Minimum Cash Balance ($35,000)
Budgeted Loan Balance $418,000
Direct Materials, Direct Labor, and Factory Overhead identify the following costs as direct materials, direct labor, or factory overhead for a magazine publisher:______ a. Staples used to bind magazines b. Wages of printing machine employees c. Maintenance on printing machines d. Paper used in the magazine
Answer:
a. Staples used to bind magazines - Direct Material
The staples are integral to holding the magazines so is a direct material.
b. Wages of printing machine employees. - Direct Labor
The printing machine employees are directly related to the magazine's production as they print it.
c. Maintenance on printing machines. - Factory Overhead
This cost is not directly associated with the publishing of the magazine so is an overhead.
d. Paper used in the magazine. -Direct Material
Without paper, the magazine can not be published which makes it a direct material.
Surveys on the early warning signs of project failure indicate that a red flag for failure is: The time to complete the project lengthens. The low probability of achieving commercial objectives. The political forces have turned against the project. The benefits of the project won't be realized until the end.
Answer:
The low probability of achieving commercial objectives
Explanation:
Project failure is a term that describes the inability of a business to meet its objectives in terms of expected outcomes in relation to budget and time. The project failure can be a result of one or various factors.
Hence, various surveys on the early warning signs of project failure suggest that a red flag for failure actually indicates: The low probability of achieving commercial objectives.
According to the text, several new technologies are expected to have dramatic impacts on marketing. Among those cited are
Answer:
Internet of Things, autonomous vehicles, wearable technology, and artificial intelligence.
Explanation:
Among those cited are the Internet of Things, autonomous vehicles, wearable technology, and artificial intelligence. All of these are innovations that work together to make smart technology, these are technologies that use artificial intelligence and interconnect between one another and the internet in order to communicate, share, analyze, and store valuable information while at the same time learning and adapting.
The following events took place for Rushmore Biking Inc. during February, the first month of operations as a producer of road bikes:Purchased $480,000 of materials.Used $434,500 of direct materials in production.Incurred $125,000 of direct labor wages.Applied factory overhead at a rate of 40% of direct labor cost.Transferred $578,000 of work in process to finished goods.Sold goods with a cost of $550,000.Revenues earned by selling bikes, $910,000.Incurred $185,000 of selling expenses.Incurred $90,000 of administrative expenses.Required:a. Prepare the income statement for Rushmore Biking Inc. for the month ending February 28. Assume that Rushmore Biking Inc. uses the perpetual inventory method.b. Determine the inventory balances on February 28, the end of the first month of operations.
Answer: Please find answers in the explanation column
Explanation:
Using the perpetual inventory method.
Rushmore Biking Inc
Income Statement For the Month Ended February 28
Revenue $910,000
Cost of goods sold -$550,000
Gross profit $360,000
Selling and administrative expense:
Selling expense $185,000
Administrative expense $90,000
Total Selling and administrative expense $275,000
Operating income
(Gross profit -Total Selling and administrative expense)
$85,000
b) Inventory balance on Current assets for February 28
Direct Materials inventory
Purchases of materials- direct materials used in production
= $480,000- $434, 500= $45500
Work in process inventory
direct materials used in production+Direct labor wages incurred+Factory overhead applied-Transferred to finished goods
= $434500+125000+ ($125000*40%) - 578000
= $434500+125000+$50,000 - $578000
=$31,500
Finished goods inventory
Transferred to finished goods-Cost of goods sold
= $578,000-550,000= $28000
The preparation of the income statement and the balance of the inventory should be shown below.
a. Preparation of income statement:Rushmore Biking Inc
Income Statement For the Month Ended February 28
Revenue $910,000
Less:Cost of goods sold -$550,000
Gross profit $360,000
Selling and administrative expense:
Less: Selling expense $185,000
Less: Administrative expense $90,000
Total Selling and administrative expense $275,000
Operating income $85,000
Working note:
= Gross profit -Total Selling and administrative expense
= Operating income
b) The inventory balances on February 28:
Direct Materials inventory:
= Purchases of materials- direct materials used in production
= $480,000- $434, 500= $45500
Work in process inventory
= direct materials used in production+Direct labor wages incurred+Factory overhead applied-Transferred to finished goods
= $434500+125000+ ($125000*40%) - 578000
= $434500+125000+$50,000 - $578000
=$31,500
Finished goods inventory:
=Transferred to finished goods-Cost of goods sold
= $578,000-550,000= $28000
Find out more information about the inventory here: https://brainly.com/question/14184995?referrer=searchResults
Which of the following statements regarding the Securities and Exchange Commission (SEC) is not true?
a. SEC rules frequently require disclosures in addition to those required by GAAP.
b. The SEC has the authority to establish and enforce accounting rules for public companies.
c. Public companies must register with the SEC.
d. The SEC is a private professional organization.
Answer:
d. The SEC is a private professional organization.
Explanation:
SEC stands for Securities and Exchange Commission. It is the United States of America's federal government agency which regulates the market laws.
The main function of this body is to maintain fair and efficient market, protect the investors and facilitate the capital formation.
All the companies must be a part of the SEC agency as given by the federal law of the US.
Those characteristics of a product that make it superior to competitive substitutes are referred to as __________.
Answer:
Points of difference
Explanation:
The point of difference means the factors that created the differentiation with respect to the product and services. Here, differentiation means that the company products are differentiated from that of the competitors. It could be done with the quantity, price, quality, etc
Therefore according to the given situation, the term we called as a point of difference and the same is to be considered
A monopoly sells its good in the United States, where the elasticity of demand is negative 1.6 , and in Japan, where the elasticity of demand is negative 5.6 . Its marginal cost is $7 . At what price does the monopoly sell its good in each country if resales are impossible?
Answer:
a. The monopoly will sell its good in the United States at $18.67.
b. The monopoly will sell its good in Japan at $8.52.
Explanation:
For any firm, profit is maximized where marginal revenue (MR) is equal to marginal cost (MC), i.e. where;
MR = MC ................................. (1)
For a monopolist, relationship between MR, the price elasticity of demand, and the price that gives maximum profits is given as follows:
MR = P(1 + 1/E) .................... (2)
Where P denotes price and E denotes elasticity of demand.
Since from equation (1) we have MR = MC, it also implies that from equation (2):
MC = P(1 + 1/E) .................... (3)
Equation (3) will now be used to solve this question when it can price discriminate and also impossible to resell as follows:
a. Calculation of monopoly price in the United States
Given;
MC = $7
E = -1.6
Substituting the values into equation (3) and solve for P, we have:
$7 = P(1 + 1/(-1.6))
P = $7 / (1 - 0.625)
P = $7 / 0.375
P = $18.67
Therefore, the monopoly will sell its good in the United States at $18.67.
b. Calculation of monopoly price in the Japan
Given;
MC = $7
E = -5.6
Substituting the values into equation (3) and solve for P, we have:
$7 = P(1 + 1/(-5.6))
P = $7 / (1 - 0.178571428571429)
P = $7 / 0.821428571428571
P = $8.52
Therefore, the monopoly will sell its good in Japan at $8.52.
If you have a long position in a foreign currency, you can hedge with:______.
a) a short position in a currency forward contract.
b) borrowing in the domestic and foreign money markets.
c) a short position in an exchange-traded futures option.
d) a short position in foreign currency warrants.
Answer:
a) a short position in a currency forward contract
Explanation:
If you have long exposure, then you hedge it with short exposure in forward market. In future options, you need to pay a premium, but in the forward market, you don't need to pay any premium and it can be customized.
if you start making $265 monthly contributions today and continue them for four years, what is the furture value if the compounding rate is 9.75 percent APR?
Answer:
FV= $15,482.98
Explanation:
Giving the following information:
Monthly investment= $265
Number of periods= 12*4= 48
Interest rate= 0.0975/12= 0.00813
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {265*[(1.00813^48) - 1]} / 0.00813
FV= $15,482.98
What would be the future value of $15,555 invested now if it earns interest at 14.5 percent for seven years
Answer:
$40,133.63
Explanation:
we can use the future value formula:
future value = present value x (1 + interest rate)ⁿ
present value = $15,555interest rate = 14.5%n = 7 yearsfuture value = $15,555 x (1 + 14.5%)⁷ = $15,555 x 1.145⁷ = $15,555 x 2.580111097 = $40,133.63
The calculation for annual depreciation using the units-of-output method is:________
a. (Initial cost Estimated output) × Actual yearly output
b. (Depreciable cost Yearly output) × Estimated output
c. Depreciable cost Yearly output
d. (Depreciable cost Estimated output) × Actual yearly output
Answer:
d. (Depreciable cost Estimated output) × Actual yearly output
Explanation:
Units of Output depreciation = Cost - Residual Value × Period`s Production / Total Expected Production.
Note : Depreciation is dependable on depreciable cost (Cost less Residual Value)
The Option that is close to this formula is d.
What personal strengths have you discovered through your internship experience?
Answer:
The answer is below
Explanation:
An internship experience is expected to an individual in his or her area of study. Hence, considering the field of study is in finance, the internship experience has helped me to develop the following personal strengths amongst others:
1. My analytical skills have improved
2. I have developed leadership skills
3. My problem-solving skills have greatly increased
4. I have developed self-management skills
5. My professionalism in terms of approach to work has been greatly influenced.
Use your knowledge of emotions and emotional intelligence to select the word or phrase that best completes each of the following sentences. _____________has four components, including__________, which is the ability to connect to others, build positive relationships, respond to the emotions of others, and influence others. Managers with_________ emotional intelligence can undermine employee morale and hurt the organization.
Answer:
Emotional Intelligence_____________has four components, including____Empathy______, which is the ability to connect to others, build positive relationships, respond to the emotions of others, and influence others. Managers with__low_______ emotional intelligence can undermine employee morale and hurt the organization.
Explanation:
Emotional Intelligence, according to Peter Salovey and John Mayer, is "the ability to monitor one's own and other people's emotions, to discriminate between different emotions and label them appropriately, and to use emotional information to guide thinking and behavior".
The components include self-awareness, self-regulation or control, internal motivation or self-motivation, empathy, and social skills. The first three deals with the individual while the last two show how the individual relate with others. Somebody can be said to possess at one extreme, high emotional intelligence or at the other extreme, low emotional intelligence.
The market consensus is that Analog Electronic Corporation has an ROE = 9%, a beta of 1.25, and plans to maintain indefinitely its traditional plowback ratio of 2/3. This year’s earnings were $3 per share. The annual dividend was just paid. The consensus estimate of the coming year’s market return is 14%, and T-bills currently offer a 6% return. a. Find the price at which Analog stock should sell. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. Calculate the P/E ratio. (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. Calculate the present value of growth opportunities. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.) d. Suppose your research convinces you Analog will announce momentarily that it will immediately reduce its plowback ratio to 1/3. Find the intrinsic value of the stock.
Answer:
a. Stock Price is $10.60.
b. Trailing P/E ratio is 3.53, while Leading P/E ratio is 3.33.
c. Present value of growth opportunitiesis -$9.28.
d .Stock Price is $15.85.
Explanation:
The following are given in the question:
ROE = 9%
b = beta = 1.25
pr = Plowback ratio = 2/3 = 0.67
dpr = dividend payout ratio = 1- pr = 1/3 = 0.33
e0 = This year’s earnings per share = $3
mr = The coming year’s market return = 14%
tr = T-bills return = 6%
We can now proceed as follows:
a. Find the price at which Analog stock should sell. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
The stock price can be calculated using the following formula:
P0 = Stock Price = d * (1 + g) / (r - g) …………………………. (1)
Where;
d = dividend per share = e0 / dpr = $3 / (1 / 3) = $1
g = Sustainable growth rate = ROE * pr = 9% * 2/3 = 0.06
rf = Risk free rate = Return on T-bills = 6%
b = Beta = 1.25
mr = Market return = 14%
r = Required return on Equity = rf + b * (mr - rf) = 6% + 1.25 * (14% - 6%) = 0.16
Substituting the values into equation (1), we have:
Stock Price = $1 * (1 + 0.06) / (0.16 – 0.06)
Stock Price = $1 * 1.06 / 0.10
Stock Price = $1 * 10.60
P0 = Stock Price = $10.60
b. Calculate the P/E ratio. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Trailing P/E ratio = P0/E0 = $10.60 / $3 = 3.53
Leading P/E ratio = P0/e1 ………………………………………. (2)
Where;
e1 = e0 * (1 + g) = $3 * (1 + 0.06) = 3.18
Substituting the values into equation (2), we have:
Leading P/E ratio = $10.60 / 3.18 = 3.33
c. Calculate the present value of growth opportunities. (Negative amount should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to 2 decimal places.)
P0 = e1 / r + pvgo …………………………………… (3)
Where pvgo denotes present value of growth opportunities, and P0, e1 and r are as already obatained in part a and b.
Substituting the values into equation (2) and solve for pvgo, we have:
$10.60 = $3.18 / 0.16 + pvgo
$10.60 = $19.875 + pvgo
pvgo = $10.60 - 19.875
pvgo = -$9.28
d. Suppose your research convinces you Analog will announce momentarily that it will immediately reduce its plowback ratio to 1/3. Find the intrinsic value of the stock.
g = ROE * pr = 9% * (1 / 3) = 3%
dpr = 1 – pr = 1 - 1/3 = 2/3
d = dividend per share = e0 / dpr = $3 / (2 / 3) = $2
Stock Price = d * (1 + g) / (r - g) = $2 * (1 + 3%) / (0.16 – 3%)
Stock Price = $2 * (1 + 3%) / (0.16 – 3%)
Stock Price = $15.85
Polk Company manufactures basketballs.
Materials are added at the beginning of the production process and conversion costs are incurred uniformly.
Production and cost data for the month of July 2017 are as follows:
Production Data: Basketballs
Units Percent Complete
Work in process units, July 1 400 60%
Units started into production 1,090
Work in process units, July 31 540 40%
Cost Data: Basketballs
Work in process, July 1
Materials $760
Conversion costs 590
$1,350
Direct materials 2,630
Direct labor 1,590
Manufacturing overhead 1,110
Required:
1. Calculate the equivalent units of production for materials and conversion costs.
2. Calculate the unit costs of production for materials and conversion costs.
(Round unit costs to 3 decimal places)
3. Calculate the assignment of costs to units transferred out and in process at the end of the accounting period.
(Round answers to 0 decimal places)
4. Prepare a production cost report for the month of July for the basketballs.
(Round unit costs to 3 decimal places and all other answers to 0 decimal places)
Answer:
1. Material $1,490
Conversion $1,490
2. Material $1,490
Conversion $1,166
3.Cost of units transferred out $4,842
Cost of ending Work in process $1,838
4. $6,680
Explanation:
1.Computation of the Equivalent unit of production for material
Beginning Work In Process 400
Add Started during the year 1,090
Units to be accounted 1,490
Computation of the Equivalent unit of production for Conversion cost
Completed and transferred 950
(1,090+400 -540)
Add ending work in process 540
Units to be accounted for 1,490
2)Calculation for the unit costs of production for materials
Production units Materials
Completed& transferred 950 100% =950
Add Ending work in process 540 100%=540
Total 1,490 1,490
Calculation for the unit costs of production for conversion costs
Completed& transferred 950 100%=950
Add Ending work in process 540 40% =216
Total 1,490 1,166
3)Calculation for the assignment of costs to units transferred out and in process
Equivalent cost per unit Materials Conversion Cost Total
Beginning work in process
760 590 =1,350
Cost added during the year
2,630 2,700 =5,330
(1,590+1,110=2,700)
Total cost
3,390 3,290 6,680
÷Equivalent units of production 1,490 1,166
=Equivalent cost per unit
2.275 2.822
Cost of units transferred out=
950× (2.275+2.822)
Cost of units transferred out=950×5.097
Cost of units transferred out= 4,842
Cost of ending Work in process
Direct materials 540×2.275 =1,228
Conversion cost 216×2.822= 610
Total (1,228+610)= 1,838
4)Preparation of a production cost report for the month of July for the basketballs.
Production Cost Report
Direct Materials 1,350
Add cost added during the year 5,330
Cost to be accounted for 6,680
Cost to be accounted for
Cost transferred out 4,842
950× (2.275+2.822)
Add cost of ending WIP 1,838
Total 6,680
The Uniform Commercial Code ("UCC") recognizes explicit, stated promises as being ________ warranties.
Answer:
Express.
Explanation:
The uniform commercial code (UCC) is a set of standardized business laws which are put in place for the regulation of financial contracts and commercial transactions used across different states in the United States of America.
A warranty can be defined as a written promise or guarantee made by a manufacturer, lessor or seller about the identity or quality of goods and services or a property to a purchaser, promising him or her to repair or replace it if necessary within a specified time frame.
The Uniform Commercial Code ("UCC") recognizes explicit, stated promises as being express warranties. An express warranty is typically considered to be an affirmative promise about the quality or characteristics of an item that is being sold to a buyer and as such it is binding and enforceable by law.
M Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days. At December 31, 2021, M's unadjusted balance of liability for compensated absences was $28,200. M estimated that there were 200 total vacation days available at December 31, 2021. M's employees earn an average of $141 per day. In its December 31, 2021, balance sheet, what amount of liability for compensated absences is M required to report
Answer:
$28,200
Explanation:
M Corp. benefit plan provides employees 15 paid vacation days and M estimated that there were 200 total vacation days and each employee can earn $141 per day. The amount of liability for compensated absences can be calculated by multiplying the number of total vacation days with the wage per day
Liability = no. of days x wage per day
Liability = 200 days x $141
Liability = $28,200
Monica has found that her contribution margin per hour of time for her highest selling product is $2,500. She wants to dedicate an extra 40 hours a month to this product, but she needs to know the increase in contribution margin if she does this. The product generally sells for $100 a unit. What would be the increase in contribution margin for this product?
Answer:
$100,000
Explanation:
Calculation for what would be the increase in contribution margin for this product
Using this formula
Increase in contribution margin= Contribution margin per hour of time × Extra hours
Let plug in the formula
Increase in contribution margin=$2,500×40 hours
Increase in contribution margin=$100,000
Therefore What would be the increase in contribution margin for this product will be $100,000
"Which call covenant MUST be considered when computing the dollar price of a municipal premium bond quoted on a yield basis?"
Answer: In whole call
Explanation:
The yield basis is a method that is used to quote a fixed-income security price as a yield percentage. The yield basis allows bonds that has different characteristics to be compared easily. It is calculated when the coupon amount that is paid yearly is divided by bond purchase price.
The call covenant that must be considered when computing the dollar price of a municipal premium bond quoted on a yield basis is the in whole call. This is a form of callable bond whereby the entire issue will have to be called at once.
Why is it a good idea for the HR plan to consider changes recruiters have seen in the company’s workforce?
Answer:
It is a good idea because recruiter, by their vast experience, are well equipped to understand the changes in the organization's workforce, and ultimately key and reflect this changes as a drive for organization success.
Explanation:
It is important to understand the concept of human resource planning in an organization. Human resources planning is basically the procedure that ensure an organization has the right set of people with the right skill set in a bid to achieve the organizational objective. Hence, a critical aspect of human resources planning is identifying and forecasting of the requisite workforce with the required skill set the organization needs.
Employers, who represent the bulk of hr team and thus spearhead the planning process, understand the imperative of a good and competent workforce. Hence, they follow and monitor trends in a bid to tap and key into the new ways and methods of doing things. So, when these recruiters note these changes, it's a good idea to reflect such in the hr planning.