Answer:
a.rate variance
Explanation:
The labor rate variance arises when the rate is paid for the labor is different as compared with the standard rate
Also the variance could be favorable or unfavorable that based whether it is below the standard rate or higher standard rate as compared with the actual rate
hence, in the given situation, the correct answer is a. rate variance
"A customer places an order to sell 100 shares of ABC at the market. The initial execution report shows the trade occurring at $75.50. The firm later discovers that the trade occurred at $75.13. Which statement is TRUE?"
Answer: The customer will receive $7,513 less any applicable commissions
Explanation: Based in the description made in the scenario above, with the initial execution report carrying a trade value different from the actual trading value of the shares. Since the error actually occurred in the initial execution report and not in the actual trade bargain, the the customer will receive $75.13 which happens to be the actual trading price as opposed to the $75.50 as reported initially. Hence, the initially issued and faulty execution report is withdrawn and the customer is issued with a corrected copy carrying a value of $75.13.
An instrument through which a bank retains title to goods until they are paid for is called a (n):a.) bill of exchangeb.) commercial letter of creditc.) trust receiptd.) documentary draft
Answer:
c.) trust receipt
Explanation:
A trust receipt is a receipt i.e. to be considered a financial document attended by the bank and the business who has received the goods delivery and unable to pay the amount unless the inventory is sold
Here, the bank retains the goods unless it is to be paid
so this scenario represents the trust receipt and the same is to be considered
hence, the correct option is c. trust receipt
Suppose the direct quote for sterling in New York is $1.3110‑5. Then the direct quote for dollars in London is:
Answer:
0.7625-80
Explanation:
The computation of the direct quote for dollars in London is shown below:
Direct quote is
= 1 ÷ direct quote in new york
where,
direct quote in new york is 1.3115
Now place these values to the above formula
So, the direct quote is
= 1 ÷ 1.3115
= 0.7625-80
Hence, the direct quote for London in dollars is 0.7625-80
We simply applied the above formula
Good Firm is highly profitable and will grow rapidly in the future. Bad Firm faces the same risks but barely makes a profit and will not grow at all. In an efficient market, _____.
Answer: B.both stocks are equally good investments
Explanation:
The options are;
A.it is better to buy shares in Bad Firm
B.both stocks are equally good investments
C.it is better to buy shares in Good Firm
D.both stock prices react equally to the same information
From the question, we are informed that Good Firm is highly profitable and will grow rapidly in the future while Bad Firm faces the same risks but barely makes a profit and will not grow at all. It should be noted that In an efficient market, both stocks are equally good investments.
"This bond pays interest on January 1st and July 1st. How many days of accrued interest will the customer pay if today is Monday, March 9th, and the trade is executed this day regular way settlement?"
Answer:
70 days of accrued interest
Explanation:
The clean price of the bond is the market price of the bond without any accrued interests, while the dirty price includes accrued interests. In order to calculate the dirty price of the bond, we need to determine the time that passed between the last coupon payment and the settlement date:
when you use the regular way settlement, we consider a 360 day year, so every month has 30 days, and we must add 1 business day at the end:
30 days from January + 30 days from February + 9 days of March + 1 business day = 70 days
A US Bank has $500 million in deposits. The current reserve ratio is 10%. Velocity of money is 2. What is the impact on GDP
Answer:
GDP will increase by :
GDP increase = $5 billion * 2
= $10 billion
The impact on GDP given the scenario is that through the $500 million bank deposit alone, the GDP will increase by $10 billion.
Explanation:
a) Data and Calculations:
Bank deposits = $500 million
Current reserve ratio = 10%
Velocity of money = 2
Money supply by this bank deposit = Deposit/reserve ratio
= $500 million/0.1
= $5 billion
Therefore, impact on GDP:
GDP will increase by = $5 billion * 2
= $10 billion
b) The Velocity of money measures the rate at which money is exchanged in the US economy. It is calculated by dividing GDP by the money supply.
What is the future value of $3,400 in 18 years assuming an interest rate of 8.7 percent compounded semiannually?
Answer:
$15,747.34.
Explanation:
The Future Value of the Investment, FV can be determined using a financial calculator as follows :
Pv = - $3,400
n = 18 × 2 = 36
p/yr = 2
r = 8.70 %
Pmt = $0
Fv = ?
Using a Financial calculator, the Future Value of the Investment, FV is $15,747.34.
An example of a good that is non-rival but exclusive is A. a pay-TV channel. B. public radio. C. hunting in a public game area. D. national defense.
Answer:
A
Explanation:
A good is non rival if it can be used by many people.
A good is exclusive if it is not accessible to everybody. There are some criteria to be met before a person can assess the good or service.
A pay-tv channel is exclusive because you have to pay before you can enjoy the services but it is non rivalled because more than one person can enjoy the services
________ mark(s) a change of focus between phases or between the ongoing operations and execution of a branch of sequel.
Answer:
"Transitions" is the correct choice.
Explanation:
A transition meaning seems to be a concept as well as a sequence of characters that connect something else that occurred previously to what follows. The transition has become a transformation through one process or step to another. One illustration of something like a transition seems to be what occurs throughout active labor as well as the birth of an infant.Real-world economies get hit with lots of shocks to aggregate demand and real shocks. Categorize each scenario as an aggregate demand shock or a real shock. How does each shock affect the aggregate demand curve and the long run aggregate supply curve of United States Economy? (i.e., Increase A/D, Decrease A/D, Increase LRAS, Decrease LRAS). a) Steelworkers go on strike, so less steel is produced Select b) A tornado destroys factories in Louisiana. Select c) Consumer optimism increases. Select d) The stock market rallies to 52-week highs increasing consumer wealth.
Answer:
a) Decrease LRAS
b) Decrease LRAS
c) Increase AD
d) Increase AD
Explanation:
steel workers go on strike so less steel is produced : this will cause a decrease in the log run aggregate supply of steel in the economy
A tornado destroys factories in Louisiana.: this will cause a decrease in the log run supply of factory products and by-products in the economy
Consumer optimism increases.leads to an increase in the aggregate demand curve
The stock market rallies to 52-week highs increasing consumer wealth. this will definitely lead to an increase in the aggregate demand curve because with more money to spend the demand curve will increase
Because of greater uncertainties, misunderstandings and transport delays, safety stocks must be larger. Group of answer choices True False
Answer:
True
Explanation:
Safety stock is a term used in business or procurement operation to define an extra quantity of commodities or products that is kept or set aside in inventory of a company to prevent or guide against any unforeseen uncertainties, misunderstandings, and transport delays, that may arise during the business operation.
Hence, in this case, the correct answer is TRUE
Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine each of the following:
1. The specific seven-digit Codification citation (XXX-XX-XX) that contains discussion of the measurement of ending inventory using the lower of cost or net realizable value (LCNRV) rule and the lower of cost or market (LCM) rule.
2. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes the measurement of the ceiling using the lower of cost or market (LCM) rule.
3. The specific eight-digit Codification citation (XXX-XX-XX-X) that describes the measurement of the floor using the lower of cost or market (LCM) rule.
Answer:
FASB ASC 330-10-35
Explanation:
The correct answer to the given question is FASB ASC 330-10-35.
The specific seven digit codification citation for the measurement of ending inventory using lower of cost or net realisable value is FASB ASC 330-10-35. The codification is provided by FASB.
A Question of Ethics—Stare Decisis. On July 5, 1884, Dudley, Stephens, and Brooks—"all able-bodied English seamen"—and a teenage English boy were cast adrift in a lifeboat following a storm at sea. They had no water with them in the boat, and all they had for sustenance were two one-pound tins of turnips. On July 24, Dudley proposed that one of the four in the lifeboat be sacrificed to save the others. Stephens agreed with Dudley, but Brooks refused to consent—and the boy was never asked for his opinion. On July 25, Dudley killed the boy, and the three men then fed on the boy’s body and blood. Four days later, the men were rescued by a passing vessel. They were taken to England and tried for the murder of the boy. If the men had not fed on the boy’s body, they would probably have died of starvation within the four-day period. The boy, who was in a much weaker condition, would likely have died before the rest. [Regina v. Dudley and Stephens, 14 Q.B.D. (Queen’s Bench Division, England) 273 (1884)] (See Common Law Tradition.) 1. The basic question in this case is whether the survivors should be subject to penalties under English criminal law, given the men’s unusual circumstances. You be the judge and decide the issue. Give the reasons for your decision. 2. Should judges ever have the power to look beyond the written "letter of the law" in making their decisions? Why or why not?
Answer:
Considering the first question
As the judge my decision will be to penalize the man under the law for the crime they have committed
because the only justification for taking the life of another is self-defense, and given that the younger man didn't appears as a threat to the stronger man remaining man.
Considering the second question
It is obligation of the court to carry out their activities within the letter of the law.in addition to that for judges they know that the spirit of the law is crucial, so it is the obligation of the a judge to look beyond the letters of law to the intent of the law as it relates to the issues of the case they are settling
Explanation:
A supplier has offered to sell the component to Carver for per 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 annually. Assuming that Carver needs components annually and that the fixed manufacturing overhead is unavoidable, what would be the impact on operating income if Carver outsources?
Answer:
A. Operating income would decrease by $100,000
Explanation:
The computation of the impact on operating income if Carver outsources is shown below:-
Particulars Per unit 3,000 units
Make Buy Make Buy
Direct material 410 1,230,000
Direct labor 110 330,000
Variable manufacturing
overhead 90 270,000
Opportunity cost 20,000
Purchase cost 650 1,950,000
Total cost 1,850,000 1,950,000
Operating income would decrease
= $1,950,000 - $1,850,000
= $10,000
The income statements for Federer Sports Apparel for 2019 and 2018 are presented below Required Prepare a horizontal analysis for 2019 using 2018 as the base year. (Decreases should be indicated with a minus sign. Round your percentage answers to 1 decimal place.)
FEDERER SPORTS APPAR
Income Statement
For the Years Ended December 31
Increase Decrease Year
2019 2018
Amount % Net sales 18,800,000 15,500,000
goods 13,200,000 7,000,000
Gross prof 5,600,000 8,500,000
1,600,000 1,200,000
1,000,000 1,000,000 0
Loss (litigation 1,500,000 300,000
Cost of sold Operating expenses Depreciation expense Inventory 200,000
Answer:
FEDERER SPORTS APPAREL
Income Statement For the Years Ended December 31
Years Increase /(Decrease)
2019 2018 Amount %
Net sales 18,800,000 15,500,000 3,300,000 21.29%
Cost of goods sold 13,200,000 7,000,000 6,200,000 88.57%
Gross profit 5,600,000 8,500,000 (2,900,000) -34.12%
Operating expenses 1,600,000 1,200,000 400,000 33.33%
Depreciation expense 1,000,000 1,000,000 0 0
Inventory write-down 200,000 0 200,000 100%
Loss (litigation) 1,500,000 300,000 1,200,000 400%
Net Income $1,300,000 $6,000,000 (4,700,000) 78.33%
Explanation:
a) Federer Sports Apparel can use horizontal analysis as a technique for analyzing the financial statement changes over a period of time. It is a useful tool for Federer to evaluate its trend situations, using the financial statements of two years with the earlier year serving as the base year (or independent variable) while the latter year is the dependent variable.
The language of price controls Suppose that, in a competitive market without government regulations, the equilibrium price of milk is $2.50 per gallon. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding. Statement The government has instituted a legal minimum price of $3.00 per gallon for milk. The government prohibits grocery stores from selling milk for more than $2.30 per gallion There are many teenagers who would like to work at grocery stores, but they are not hired due to minimum-wage laws. Price Control Binding or Not Grade It Now Save & Continue Continue without saving.
Answer:
Price floor binding
b. price ceiling binding
price floor and binding
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
The minimum price of milk is above equilibrium price. So, it is a binding price floor
The maximum price of milk is below equilibrium price. It is binding price ceiling
If teenagers can't find jobs due to minimum wages law. It means that the minimum wage must be above equilibrium price. This is because it is when price is above equilibrium price that supply of labour outstrips demand. So, it is a binding price floor
[Tutorial] 888^210^2883 Fix Login Problems of QuickBooks Online on Chrome & Mac
Answer:
what is this can you explain?
"Long Margin Account Market Value: $210,000 Debit Balance: $100,000 If the debit balance in the account is reduced to $90,000, the market value where the account will be at minimum maintenance margin is?"
Answer:
25%
Explanation:
The formula to compute the equity in the long margin account is
long market value - debt = equity
Also we know that the account will be at maintenance if the equity is 25% of the long market value
Here 25% represents the equity so 75% would be debit
And, the drop in the market value is of
= $90,000 ÷ 0.75
= $120,000
So at this point, the equity is $30,000
Now the margin percentage is
= $30,000 ÷ $120,000
= 25%
When evaluating investments, you can get data from engineering, marketing and sometimes accounting. Do you think any of these organizations have internal biases? If so, as a member of the finance department, how would you deal with them?
Answer: The evaluation of investments is important for knowing the real picture of the financial status of the organization.
Explanation:
The organization may have an internal bias that presenting the data for evaluating the investment. Being a member of the finance department I will suggest the organization get the financial statements and other finance-related documents so as to detect the internal bias in the investment statement.
Peter's Audio has a yield to maturity on its debt of 7.8 percent, a cost of equity of 12.4 percent, and a cost of preferred stock of 8 percent. The firm has 105,000 shares of common stock outstanding at a market price of $22 a share. There are 25,000 shares of preferred stock outstanding at a market price of $45 a share. The bond issue has a total face value of $1.5 million and sells at 98 percent of face value. If the tax rate is 34 percent, what is the weighted average cost of capital?
Answer:
the weighted average cost of capital is 9.22 %.
Explanation:
Weighted average cost of capital is the weighted return required by all providers of permanent sources of finance to the Company.
WACC = ke × (e/v) + kp × (p/v) + kd × (d/v)
where,
ke = cost of equity
= 12.40 %
e/v = weight of equity
= ($22 × 105,000) ÷ ($22 × 105,000 + $45 × 25,000 + $1,500,000 × 98%)
= 0.4709
kp = cost of preference stock
= 8.00 %
p /v = weight of preference stock
= ($45 × 25,000) ÷ ($22 × 105,000 + $45 × 25,000 + $1,500,000 × 98%)
= 0.2294
kd = cost of debt
= Interest × ( 1 - tax rate)
= 7.80 % × (1 - 0.34)
= 5.148%
d/v = weight of debt
= ($1,500,000 × 98%) ÷ ($22 × 105,000 + $45 × 25,000 + $1,500,000 × 98%)
= 0.2997
Therefore,
WACC = 12.40 % × 0.4709 + 8.00 % × 0.2294 + 5.148% × 0.2997
= 9.22 %
You’re the manager of global opportunities for a U.S. manufacturer, who is considering expanding sales into Asia. Your market research has identi-
fied the market potential in Malaysia, Philippines, and Singapore as described next:
Success Level Big Mediocre Failure
Malaysia Probability 0.3 0.2 0.5
Units 1,200,000 384,000 0
Philippines Probability 0.4 0.3 0.3
Units 1,400,000 700,000 0
Singapore Probability 0.1 0.7 0.2
Units 500,000 300,000 0
The product sells for $10 and has unit costs of $8. If you can enter only one market, and the cost of entering the market (regardless of which market you select) is $250,000, should you enter one of these markets? If so, which one? If you enter, what is your expected profit?
Answer:
a) Yes.
b) Philippines
c) Expected profit is $1,540,000
Explanation:
a) Data and Calculations:
Market potential in Malaysia, Philippines, and Singapore as described next:
Success Level Big Mediocre Failure Expected units
Malaysia Probability 0.3 0.2 0.5
Units 1,200,000 384,000 0
Expected units 360,000 76,800 0 436,800
Philippines Probability 0.4 0.3 0.3
Units 1,400,000 700,000 0
Expected units 560,000 210,000 0 770,000
Singapore Probability 0.1 0.7 0.2
Units 500,000 300,000 0
Expected units 50,000 210,000 0 260,000
b) Determination of outcomes:
Malaysia Philippines Singapore
Expected units 436,800 770,000 260,000
Contribution per unit $2 $2 $2
Contribution margin $873,600 $1,540,000 $520,000
Cost of market entrance 250,000 250,000 250,000
Net Income $623,600 $1,290,000 $270,000
Mistor Co. amended its pension plan on January 2 of the current year. It also granted $600,000 of unrecognized prior service costs to its employees. The employees are all active and expect to provide 2,000 service years in the future, with 350 service years this year. What is Mistor's unrecognized prior service cost amortization for the year?
Answer: $105,000
Explanation:
Given, unrecognized prior service costs granted = $600,000
service years in future = 2,000
service years this year = 350
Mistor's unrecognized prior service cost amortization for the year = (unrecognized prior service costs granted) ÷ (service years in future) ×(service years this year )
= $(600000÷2000×350)
= $105,000
Hence, Mistor's unrecognized prior service cost amortization for the year = $105,000
The standard direct labor cost for producing one unit of product is 5 direct labor hours at a standard rate of pay of $20. Last month, 18000 units were produced and 88000 direct labor hours were actually worked at a total cost of $1584000. The direct labor quantity variance was
Answer:
Direct labor time (efficiency) variance= $40,000 favorable
Explanation:
Giving the following information:
The standard direct labor cost for producing one unit of product is 5 direct labor hours at a standard rate of pay of $20.
Last month, 18000 units were produced, and 88000 direct labor hours.
To calculate the direct labor quantity variance, we need to use the following formula:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Standard quantity= 18,000*5= 90,000
Direct labor time (efficiency) variance= (90,000 - 88,000)*20
Direct labor time (efficiency) variance= $40,000 favorable
Canada and Mexico are the same distance from the United States, but trade is higher between the U.S. and Canada than with Mexico because
Answer:
supply and demand i think
Explanation:
its supply and demand maybe people want more things from canada or its the import taxes from importing things from mexico to over here
Use the following information to determine the break-even point in units (rounded to the nearest whole unit): Unit sales 58,000 Units Unit selling price $14.90 Unit variable cost $8.30 Fixed costs $194,000
Answer:
29,394 units
Explanation:
The formula for break even point is given as Fixed cost / Contribution margin.
Where;
Contribution margin = Sales per unit - Variable cost per unit
Given that ;
Fixed cost = $194,000
Unit selling price = $14.90
Unit variable cost = $8.30
Therefore;
BEP(units) = $194,000 / $14.90 - $8.30
= $194,000 / $6.6
= 29,394 units
You determine that you have an increase in inventory of $5,600 at the end of the period. Which of the statements are true?
Answer:
Inventory is tracked by the organization/inventory was received during the period
Explanation:
having an increase in inventory by the end of the accounting year would only mean that new inventory was received during the relevant year. This can only be determined by the organization if there is an inventory management system in place to account for inventory: inventory level, inventory going out and inventory coming in such as inventory sales and orders. Inventory methods include:Economic order quantity, Minimum order quantity.
ABC analysis, Just-in-time inventory management., Safety stock inventory, FIFO and LIFO, Reorder point formula, Batch tracking. There also inventory softwares used by organizations I'm tracking inventory
Aryanna invests $30,000 today into an investment that earns 5% annually, but interest is compounded continuously. What is the future value of this investment 15 years from today
Answer:
Future Value =$62,367.85
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- 30,000
FV - Future Value, - ?
n- number of years- 15
r- interest rate - 5%
Future Value = 30,000× 1.05^15 =62,367.85
Future Value =$62,367.85
Miles, a software designer, received a performance review that he feels is incorrect. Miles would like to discuss his concerns with an impartial individual at his firm. What are the best two individuals for Miles to contact in this situation
Complete Question:
Miles, a software designer, received a performance review that he feels is incorrect. Miles would like to discuss his concerns with an impartial individual at his firm. What are the best two individuals for Miles to contact in this situation?
Group of answer choices
A) mediator and ombudsperson
B) HR manager and arbitrator
C) ombudsperson and HR manager
D) arbitrator and union steward
Answer:
C) ombudsperson and HR manager.
Explanation:
Since Miles feel the performance review he received is incorrect and as such would like to discuss his concerns with an impartial individual working at his firm. The two best individuals for Miles to contact in this situation are an ombudsperson and HR manager.
An ombudsperson refers to a public official who acts as an impartial or neutral intermediary between employees and the executive management by mediating in ethical manner during times of dispute or conflict in an organization.
On the other hand, HR manager is a human resource manager and is saddled with the responsibility of effectively managing the employees working in an organization and other employee-related activities such as training, recruitment, performance management, job design and functions.
Hence, an ombudsperson and HR manager are impartial and neutral and as such would provide a safe, comfortable, and confidential environment for Miles to discuss his concerns.
If one concurs with the school of ethical universalism, then one believes that:_______
A. The most fundamental concepts of what is right and what is wrong are universal and transcend most all cultures, societies, and religions; thus, it is entirely appropriate to expect all members of society (including all personnel of all companies worldwide) to conform to universal ethical standards.
concepts of right and wrong as they apply to business behavior are universally considered as being varying shades of gray, never absolute (i.e. black or white).
B. Because what is deemed right or wrong, fair or unfair, moral or immoral, ethical or unethical in business situations is universally regarded as somewhat flexible, then what constitutes ethical conduct should be judged in light of local customs and social mores and can legitimately vary from one culture or nation to another.
C. Since ethical standards are universally flexible, each company has a window within which it can define and implement its own ethical principles of right and wrong.
D. Since ethical standards are universally flexible, each country should have some degree of latitude in setting its own ethical standards for judging the ethical correctness of business actions/behaviors within its borders.
Answer: A. The most fundamental concepts of what is right and what is wrong are universal and transcend most all cultures, societies, and religions; thus, it is entirely appropriate to expect all members of society (including all personnel of all companies worldwide) to conform to universal ethical standards.
Explanation:
Ethical Universalism means that even though humans across most cultures and societies were divided by geography for ages and so developed in isolation for a time, they still adopted similar standards on what was right and what was wrong.
As a result, the most fundamental concepts of right and wrong are a shared variable across most cultures which means that in business, it is indeed possible to expect a global set of ethical standards that all people can subscribe to.
In terms of commonly traded organizational currencies, sharing tasks that increase someone's skills and abilities and letting others have ownership and influence are examples of ________-related currencies.
Answer:
Personal
Explanation:
Personal related currencies refers to the currencies that deals with the insipitration and the morality, vision, strength. It basically shows the needs of the person nd the value that actually what person could do
Since in the question it is mentioned that the if the tasks are shared that rise the skills and ablities of the person than this would represent the personal related currencies and hence the same is to be considered