Answer:
$15,284
Explanation:
First, you have to use the formula to calculate the future value to calculate the amount that Samantha will have after 25 years:
FV=PV*(1+r)^n
FV= future value
PV= present value= $4,643
r= rate of interest= 6%
n= number of periods of time=25
Now, you can replace the values in the formula:
FV=4,643*(1+0.06)^25
FV=4,643*(1.06)^25
FV=19,927
Then, you have to subtract the present value from the future value to find the amount of interest after 25 years:
19,927-4,643= 15,284
According to this, the amount of interest at 6% compounded annually after 25 years will be $15,284.
You haven't been able to spend much time talking with your team lately, but your workload should be back to normal soon. When you checked in with your team today, several associates joked about being surprised to see you. Assuming all options are possible, what would you be most and least likely to do? 1. Explain the issue to team members and praise them for their work while you've been out. Let them know that you will soon have more time. 2. Talk to your manager to explain the situation. Propose that you ease some of your commitments so that you can spend more time with your team. 3. Keep your other commitments and try to be more strategic about when you interact with your team, picking the best times to maximize impact. 4. Immediately start spending more time with your team, even though this requires additional hours, in order to keep your other commitments. Most Least
Answer & Explanation: Team bonding is an important part of work as it helps to build morale and improve productivity.
In this scenario, I will most likely 'Explain the issue to team members and praise them for their work while you've been out. Let them know that you will soon have more time". This will help the team members to be involved and understand the intention.
However, I will least likely 'Immediately start spending more time with your team, even though this requires additional hours, in order to keep your other commitments'. This will mean pleasing the team at my expense and may lead to breakdown.
Terrell and hi parents live in a home near San Francisco. Terrell has a Visa card, which he is using to pay for car insurance today. Write a short paragraph telling ways Terrell and his family are making use of the U.S. monetary systems and policies.
Answer:
Terrell is using credit, which is a US regulated monetary system.
Explanation:
When you use credit (I also study finance along with investing) your borrowing money and paying it back later. This is a system that banks and government agencies make lots of money from, and they make money long term, while Terrell gets to pay his insurance in the short term. (I would advise against putting more than 10% of your credit limit of your credit card. Yes I know about credit cards lml) *edit- Credit is a form of small loans unless its secured or prepaid*
A(n) ____ focuses on the need for service providers to build strong bonds with customers.
Answer:
Interpersonal relationship
Explanation:
Took business
Answer:
interpersonal relationship
You find a certain stock that had returns of 16 percent, −9 percent, 23 percent, and 24 percent for four of the last five years. The average return of the stock over this period was 14.4 percent. a. What was the stock’s return for the missing year? (Do not round intermediate calculations and enter your answer as a percent rounded to 1 decimal place, e.g., 32.1.) b. What is the standard deviation of the stock’s returns? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
stock's returns = (0.16 - 0.09 + 0.23 + 0.24 + x) / 5 = 0.144
0.16 - 0.09 + 0.23 + 0.24 + x = 0.144 x 5
0.54 + x = 0.72
missing return (x) = 0.72 - 0.54 = 0.18 = 18%
variance = [(0.16 - 0.144)² + (-0.09 - 0.144)² + (0.23 - 0.144)² + (0.24 - 0.144)² + (0.18 - 0.144)²] / 5 = (0.000256 + 0.054636257 + 0.007396 + 0.009216 + 0.001296) / 5 = 0.014560051
standard deviation = √0.014560051 = 0.1207 = 12.07%
Turrubiates Corporation makes a product that uses a material with the following standards:________. Standard quantity 6.5 liters per unit Standard price $1.00 per liter Standard cost $6.50 per unit The company budgeted for production of 2,300 units in April, but actual production was 2,400 units. The company used 16,410 liters of direct material to produce this output. The company purchased 18,600 liters of the direct material at $1.10 per liter. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for April is:________. a. $891 U b. $810 U c. $891 F d. $810 F
Answer:
Direct material quantity variance= $810 unfavorable
Explanation:
Giving the following information:
Standard quantity 6.5 liters per unit Standard price $1.00 per liter
Actual production was 2,400 units.
The company used 16,410 liters of direct material to produce this output.
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Standard quantity= 6.5*2,400= 15,600
Direct material quantity variance= (15,600 - 16,410)*1
Direct material quantity variance= $810 unfavorable
What is the monthly payment on a $110,000 mortgage? Assume a standard 30-year, 5.4% mortgage with monthly payments.
Answer:
the monthly payment on a $110,000 mortgage is $617.68.
Explanation:
The Monthly payments, PMT on the mortgage can be determined using a Financial Calculator as follows :
Pv = $110,000
n = 30 × 12 = 360
r = 5.4 %
P/yr = 12
Fv = $ 0
PMT = ?
Using a Financial Calculator, the Monthly payments, PMT on the mortgage is $617.68
Wolverine, Inc. began operations on January 1 of the current year with a $12,400 cash balance. 45% of sales are collected in the month of sale; 55% are collected in the month following sale. Similarly, 15% of purchases are paid in the month of purchase, and 85% are paid in the month following purchase. The following data apply to January and February:
January February
Sales $ 39,000 $ 59,000
Purchases 32,000 44,000
Operating expenses7,400 9,400
If operating expenses are paid in the month incurred and include monthly depreciation charges of $2,900, determine the change in Wolverine's cash balance during February.
a) $4,800 increase.
b) $7,700 increase.
c) $10,550 increase.
d) $13,450 increase.
e) Some other amount.
Answer:
$7,700 increase
Explanation:
We can determine the change in Wolverine's cash balance by deducting the cash disbursement and operating expenses from the cash receipts.\
Change in cash balance = Cash receipts - Cash disbursement - Operating expense
Change in cash balance = $48,000 - $33,800 -$6,500
Change in cash balance = $7,700
WORKING:
Cash Receipts
Sales
February ( 59,000 x 45%) $26,550
January ( 39,000 x 55%) $21,450
Total $48,000
Cash disbursement
Purchases
February ( 44,000 x 15%) $6,600
January ( 32,000 x 85%) $27,200
Total $33,800
Operating expenses
Incurred $9,400
Depreciation ($2,900)
Net $6,500
Greg and Joyce have an adjustable rate mortgage on their home. What is the key feature of this type of loan?
Answer: Interest rate can vary
Explanation: Based on the description of Greg's and Joyce's mortgage loan, the key term is the adjustable nature of the loan used to finance the mortgage. Being adjustable simply means not fixated. Hence, the interest on the loan is bound to change throughout the entire period of the loan. This type of mortgage loans are called ADJUSTABLE RATE MORTGAGE or FLOATING mortgage. The change in the interest rate applied on the outstanding balance of is usually at intervals which could be annually, semianually or monthly basis as the case may be.
Which of the following is not a function of Public Accounting firms?
A. Register public accounting firms that prepare audit reports of publicly traded companies.
B. Conduct inspections of registered public accounting firms.
C. Promulgate accounting principles.
D. Establish or adopt auditing standards.
Answer:
C. Promulgate accounting principles.
Explanation:
The public company accounting is a non profit organization, established by an act, which provides regulatory roles for auditors of firms who trade on the stock exchange market.
They are responsible for establishing standards for audits of financial company, sanction registered audit firms and to establish independence standards for auditors of public companies.
Therefore, option 'C' is odd because Financial Accounting Standards Board(FASB) is the only body responsible for promulgating accounting principles.
(True/False) An employee code of conduct will list illegal behaviors, but it will not list unethical behaviors.
Answer:
False
Explanation:
An employee code of conduct is a legal document that provides guidelines on acceptable behaviours of individuals in an organisation.
It contains what is deemed illegal, values and ethical conducts
Best's Bicycles manufactures three different types of bikes: the Tiny Tike, the Adult Aero, and the Mountain Monger. Given the information in the table, calculate the required capacity for this year's production. Note that the times are given for assembly lines, so capacity calculations should be in terms of the number of lines necessary. Assume that Best Bicycles operates three shifts, each with 2,000 hours per year.Bike Demand Forecast Processing Time Lot Size (# of bikes) Setup Time (units/year) (minutes/unit) (minutes/setup)Tiny Tike 14,000 8 15 50Adult Aero16,000 10 18 80Mountain 19,000 12 25 40Mongera. Determine the total setup timeb. Determine the total operating time availablec. Determine the number of assembly lines
Answer:
A.148,177.78
B.360,000 hours
C. 2.89
Explanation:
A. Calculation to Determine the total setup time
Determine the total setup time for each of the three different types of bikes
Tiny Bike= (14,000/15)×50
=933.3333×50
=46,666.67
Adult Aero (16,000/18)×80
=888.889×50
=71,111.11
Mountain Monger (19,000/25)×40
=760×40
=304,00
Total Setup Time=
Tiny Bike 46,666.67+Adult Aero 71,111.11+Mountain Monger 30,400
Total Setup Time=148,177.78
Therefore the total setup time will be 148,177.78
b. Calculation to Determine the total operating time available
Total Operating Time=3×2,000×60
Total Operating Time=360,000 hours
Therefore the total operating time be 360,000 hours
c. Calculation to Determine the number of assembly lines
Number of assembly lines=(532,000+148,178)/360,000)+1
Number of assembly lines=(680,178/360,000)+1
Number of assembly lines=1.88938333+1
Number of assembly lines=2.89
Therefore the number of assembly lines will be 2.89
"A customer has an existing short margin account with credits of $16,000 and a short position in ABC stock worth $12,000. The SMA in the account is $1,000. If the market value of ABC falls to $8,000, the equity is:"
Answer:
$8,000
Explanation:
Short sale is a transaction involving an investor who borrows shares to sell in the market in anticipation of buying back the shares in the future when the market prices decreases. Where there is a proceed in short sale transaction, such will be deposited in a short margin account.
With regards to the above, if the market value of ABC shares falls to , then the equity would be;
Equity = Short margin account credits -Short market value
Equity = $16,000 - $8,000
Equity = $8,000
For the coming year, Crane Inc. is considering two financial plans. Management expects sales to be $301,770, operating costs to be $266,545, assets to be $200,000, and its tax rate to be 25%. Under Plan A it would use 25% debt and 75% common equity. The interest rate on the debt would be 8.8%, but the TIE ratio would have to be kept at 4.00 or more. Under Plan B the maximum debt that met the TIE constraint would be employed. Assuming that sales, operating costs, assets, the interest rate, and the tax rate would all remain constant, by how much would the ROE change in response to the change in the capital structure
Answer:
increase in ROE due to plan B = 26.44% - 20.55% = 5.89%
Explanation:
currently EBIT = $301,770 - $266,545 = $35,225
TIE ratio = EBIT / interest expense
Plan A:
interest expense = ($200,000 x 25%) x 8,8% = $4,400
TIE ratio = $35,225 / $4,400 = 8
net income (assuming no taxes) = $30,825
ROE = $30,825 / $150,000 = 20.55%
Plan B:
TIE ratio = 4 = $35,225 / interest expense
interest expense = $35,225 / 4 = $8,806.25
total debt = $8,806.25 / 8.8% = $100,071
equity = $99,929
net income = $35,225 - $8,806.25 = $26,418.75
ROE = $26,418.75 / $99,929 = 26.44%
increase in ROE due to plan B = 26.44% - 20.55% = 5.89%
Kzinski warrants the mixers to be free of defects in material and workmanship for 1 year from the date of original purchase. If the mixer has such a defect, Kzinski will repair or replace the mixer free of charge for parts and labor. The product must be shipped prepaid to an authorized Kzinski service center. The consumer pays the cost to ship the mixer. The cost to return the product to the consumer is paid by Kzinski.
The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping to Boston for any mixers needing repair under Kzinski’s warranty terms. Based on past experience, Kzinski has found that approximately 10% of mixers are returned for repair or replacement. The average cost to ship a mixer to Boston is $60.
The following transactions take place in 2020 and 2021.
A total of 30 mixers are sold in 2020.
Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers to Boston is $210.
A total of 40 mixers are sold in 2021.
Two of the mixers sold in 2021 are returned for repair in 2021. The total shipping cost for returning these two mixers to Boston is $55.
1. Calculate Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.
2. Record the estimated warranty liability at December 31, 2020.
3. Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021.
4. Calculate Cookie Creations’ warranty liability at December 31, 2021.
Answer:
1. Calculate Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.
warranty liability = 30 x 10% x $60 = $180
2. Record the estimated warranty liability at December 31, 2020.
Dr Warranty expense 180
Cr Warranty liability 180
3. Prepare the summary journal entry (or entries) to record the shipment of the six mixers (four from the 2020 sales and two from the 2021 sales) for warranty repair in 2021.
Dr Warranty liability (= $210 + $55) 265
Cr Cash 265
4. Calculate Cookie Creations’ warranty liability at December 31, 2021.
warranty expense = ($210 - $180) + [(40 x 10% x $60) - $55] = $30 + $185 = $215
Dr Warranty expense 215
Cr Warranty liability 215
If the wage rate paid per hour differs from the standard wage rate per hour for direct labor, the variance is a a.rate variance b.variable variance c.quantity variance d.volume variance
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
Assume Intervale Railway is considering investing in Pale Co. stock for three months. The investment will represent 5% of the voting stock of Pale Co. How would the investment be classified?a. Significant interest investmentb. Trading investmentc. Held-to-maturity investmentd. Controlling interest investment
Answer:
Option b (trading investment) is the correct choice.
Explanation:
Usually, the word 'trade investment' becomes interpreted as another expenditure undertaken by a corporation in certain company's securities or debentures towards supporting the initial company's transaction either business.Trading securities involve commodities or assets which are already intended by the administrators to start buying to generate money initially.Which of the following is true?a. Currently, the food and fiber sector accounts for about 12% to 15% of gross domestic product (GDP). b. Off-farm income is important to agricultural producers today. c. Twenty percent of farmers produce 80% of the agricultural output in the food and fiber industry. d. The food and fiber industry is responsible for one out of every ten jobs.
Answer:
b. Off-farm income is important to agricultural producers today.
c. Twenty percent of farmers produce 80% of the agricultural output in the food and fiber industry.
Explanation:
The food and fiber industry is divided into 4 main sectors:
suppliers of farm inputs (including services and materials)farmers themselves (producers)processing and manufacturing of farm and fiber productsmarketing and distribution (wholesalers and retailers)In the US, the food and fiber industry represents approximately 5.4% of GDP. It employs roughly around 21 million workers (including direct and indirect employment). The food and fiber industry is a net exporter, since it exports more than it imports. Currently, most farming value is concentrated on large farms, where smaller farms generally produce more livestock output while larger farms produce crops.
After WW2, there has been a tendency to substitute labor for capital, and to have more larger farms and less smaller ones.
The percentage of homes in a given area that are watching television during a specific time period is referred to as:__________. A. households using television. B. ratings point. C. program rating. D. share of audience. E. total audience.
Answer:
A. households using television
Explanation:
Households using television is a term used by Nielson Media Research to represent the total number of households that have their televisions on in a particular area compared to the total number of houses with televisions.
For example this can be calculated in a one hour period to see the percentage of households that watch television within that time frame.
Rating on the other hand calculates number of households watching a particular programme.
The formula for this is
Household using television = Rating ÷ Share
Assume that an investor owns 35% of an investee, and accounts for its investment using the equity ethod. At the beginning of the year, the Equity investment was reported on the investor's balance sheet at $360,000. During the year, the investeee reported net income of $110,000 and paid dividends of $20,000 to he investor. In addition, the investor sold inventory to the investee, realizing a gorss profit of $36,000 on the sale. At the end of the year, 15% of the inventory remained unsold by the investee.
a) How much equity income should the investor report for the year?
b) What is the balance of the Equity Investment at the end of the year?
c) Assume that the inventories are all sold in the following year, The investeee reports $160,000 of net income. How much equity income will the investor report for the following year?
Answer:
a. Investors shares in Net Income = Net Income * Share percentage
= $110,000 * 35%
= $38,500
Share of unrealized gain = Gross profit * Percentage of remaining inventory * Share percentage
= $36,000 * 15% * 35%
= $1,890
Hence, Equity Income = Investors share in Net income - Investor share in unrealized gain on ending inventory
= $38,500 - $1,890
= $38,610
b. Equity investment balance at year end = Equity Investment in the beginning during the time+ Equity income to be reported - Dividend paid
= $360,000 + $36,610 - $20,000
= $376,000
c. Investor share in Net Income = Net income * Share percentage
= $160,000 * 35%
= $56,000
Share of unrealized gain = Gross profit * Percentage of remaining inventory * Share percentage
= $36,000 * 15% * 35%
= $1,890
Hence, Equity Income = Investor share in Net Income + Investor share in unrealized gain on beginnging inventory
= $56,000 + $1,890
= $57,890
The bullwhip effect occurs when slight to moderate demand variability becomes magnified as demand information is transmitted back upstream. True/False
Answer:
The given statement is "True".
Explanation:
The bullwhip effect has been characterized as either the production disruption that flows upstream again from supplier to something like the wholesaler as well as a distributor throughout the production process, given the differences of shipments that might have been broader than those of revenues. Because these, upstream advertisers usually experience a reduction in prediction performance while the gap between some of the consumer as well as the supplier grows.Determine the formula, then enter the amounts to calculate the equivalent units of production for direct materials and conversion costs
Answer:
Direct materials cost per equivalent unit=$0.75
Conversion cost per equivalent unit=$0.55
Explanation:
Computation of the cost per equivalent unit of production for direct materials.
Using this formula
Direct materials cost per equivalent unit = Direct materials costs /Equivalent units of materials
Let plug in the formula
Direct materials cost per equivalent unit = $48,750/65,000
Direct materials cost per equivalent uni=$0.75
Computation of the cost per equivalent unit of production for conversion costs.
Using this formula
Conversion cost per equivalent unit =Conversion costs/Equivalent units of conversion costs
Let plug in the formula
Conversion cost per equivalent unit = $24,750/45,000
Conversion cost per equivalent unit=$0.55
Therefore the Direct materials cost per equivalent unit will be $0.75 while
Conversion cost per equivalent unit will be $0.55
QUESTION 3 Project governance does NOT include Setting standards for project selection. Overseeing project management activities. Centralization of project processes and practices. Options for continuous improvement. Allowing project managers to plan the project the way they see fit.
Answer: Allowing project managers to plan the project the way they see fit.
Explanation: Project governance may be described as collectively adopted and designated framework or structure which is employed to serve as a guide or model during the entire process of project planning and development. The project governance model is often in tandem with the organizational management framework and provides the necessary guidance and protocol for project management. Hence, it includes setting standard benchmarks, continuous monitoring of project activities and Options for standard incorporation and continuous improvement.
Project governance does not include allowing project managers to plan the project the way they see fit.
What is project governance?
Project governance can be described as the management framework that allows for the making of decisions that regards projects.
The main objective of the project governance is to allow decision making that would be:
LogicalRepeatable RobustRead more about project governance on
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What does the income statement reflect?
A) The cash that has flowed in and out of the company over an accounting period.
B) Revenues minus expenses over an accounting period.
C) Both of the above.
D) None of the above.
Answer: B) Revenues minus expenses over an accounting period.
Explanation:
The Income statement lets the business know how much profit it made from its operations during the year.
It lists the revenue that was earned and then deducts all expenses that were incurred from that revenue including taxes and interest payment and then presents the net income/loss.
The first option refers to the Cashflow statement.
If the company is using the payback period method and it requires a payback of three years or less, which project(s) should be selected?
Answer: Project X
Explanation:
The Payback period is the amount of time it would take for the cash inflows accruing from an investment to payoff the cost of the investment.
Project X has a constant cashflow of $24,000 for 3 years and a cost of $68,000 for the Payback period is;
= 68,000/24,000
= 2.83 years
Project Y has an uneven cash flow with a cost of $60,000. Payback is calculated as;
= Year before payback + Amount left to be paid/cashflow in year of payback
Year before payback = 4,000 + 26,000 + 26,000
= $56,000
This means that the third year is the year before payback.
60,000 - 56,000 = $4,000
Payback period = 3 + 4,000/20,000
= 3.2 years
Based on a Payback period of 3 years, only Project X should be chosen as it pays back in less than 3 years.
How is your opportunity cost of taking this course online different than taking it on-campus?
Answer:
Online classes is new trend now these days. Both ways have their own advantage and disadvantages.
Explanation:
Now these days the trend of online classes are on top. This is not a longer novelty. This mode of learning changes the structure and experience of the class.
It is not necessary that the changes could be right for all. There are some advantage of online classes.
Flexible scheduleFaster completionTo study anytimeTo login from anywhereTo access the more collegesNo commuteIt has potentially lower cost
But in traditional classroom in campus, you have to attend the classes at campus. You will meet new people. Students get socialize with another students and new people
Both way of taking course have advantage and disadvantage.
Controls that prevent, detect, and correct transaction errors and fraud in application programs are called: A. Application controls B. General controls C. Preventive controls D. Detective controls
Answer:
A. Application controls
Explanation:
Application control refers to the practice that looks in the security issues that lingers over the data. It helps in restricting or blocking the applications that are unauthorized to become a threat to data security. When the data is transferred or shared among different applications, the application control helps in performing the function of a safeguard.
Mike says, "The possibility that my house may burn isa pure risk for me, but if I buy insurance, it is a speculativerisk for the insurance company." Do you agree? Why or
Answer:
I agree with Mike because pure risks involve only possible losses. Since he owns his house, the possibility of it burning down would represent only a loss to him.
But if he buys insurance, he will pay an insurance premium which means that if the house burns down, the company will lose money, but if the hose doesn't burn down, the insurance company will make a profit. This represents speculative risk because the possibility of a gain and a loss exist.
Levine, Inc., has a total debt ratio of 0.48. What is its debt-equity ratio?
Answer:Debt equity ratio= 0.92
Explanation:
Debt equity ratio is a company's liquidity ratio that compares its total debt to total equity showing how the proportion of the finance of the company proceeds from its creditors and investors.
its formulae is given by
Debt equity ratio= Total liabilities /Total shareholder's equity
= Debt/ total asset - debt
let the total asset = 100% = 1
Therefore,
Debt equity ratio=Debt/ total asset - debt
= 0.48/ 1 -0.48 = 0.48 /0.52 = 0.9231
How much can a Municipal Finance Professional (MFP) contribute to the "clean up" campaign to pay off campaign debt of an ex-issuer official that is now out of office because she lost the general election
Answer:
An unlimited amount
Explanation:
According to the Political contribution rule, Municipal Finance Professionals cannot make contribution of more than $250 to an elected official's campaign.
However in this case the ex-issuer official lost the general election and is not able to influence municipal securities of the MFP.
So they can contribute any amount to the clean up campaign since the official is out of office.
The Political contribution rule was instituted to prevent office holder from manipulating MFP securities in exchange for large contributions.
Company has a division that manufactures a component that sells for and has variable costs of and fixed costs of . Another division wants to purchase the component. What is the minimum transfer price if the division is operating at capacity?
Complete Question:
Palmo Company has a division that manufactures a component that sells for $66 and has variable costs of $29 and fixed costs of $19. Another division wants to purchase the component. What is the minimum transfer price if the division is operating at capacity?
A. $48
B. $66
C. $19
D. $29
Answer:
Option D. $66 per unit
Explanation:
The transfer price can be calculated using the following Formula if the division is working at full capacity:
Lowest Transfer Price = Variable cost per unit + Contribution lost Per unit
Here
Variable cost per unit is $29
Contribution lost Per unit = $66 - $29 = $37
By putting values in the above equation, we have:
Lowest Transfer Price = $29 + $37 = $66 per unit which is the market price of the company. If the company wasn't operating at full capacity then the minimum transfer price would be variable cost only because we will not have any contribution lost losses. This means that if the division is operation at full capacity the transfer price would be market price.