a. $75,000 in raw materials were purchased for cash. b. $73,000 in raw materials were requisitioned for use in production. Of this amount, 67,000 was for direct materials and the remainder was indirect materials c. Total labor wages of $152,000 were incurred and paid. Of this amount, $134,000 was for direct labor and the remainder was for indirect labor d. Additional manufacturing overhead costs of $126,000 were incurred and paid. e. MOH costs of $178,000 were applied to jobs using the company's predetermined OH rate. f. All of the jobs in progress at the end of the month were completed and shipped to customers. g. Any underapplied or overapplied OH for the period was closed out to COGS.
Answers
T-accounts for the Raw Materials, Work in Process (WIP), Manufacturing Overhead, and Finished Goods Inventory accounts, all can be seen on the attachment.
The cost of goods sold for the period is $0. This result suggests that all of the products produced during the period were sold and there were no remaining inventory at the end of the period.
T-accounts are a type of visual representation of a company's general ledger accounts. They show the debits and credits for each transaction that impacts the account, and help keep track of the account balance.
Based on T-accounts, Cost of Goods Sold can be calculated as follows:
Cost of Goods Sold = Beginning Finished Goods Inventory + Cost of Goods Manufactured - Ending Finished Goods Inventory
Since there were no beginning Finished Goods Inventory, the equation simplifies to:
Cost of Goods Sold = Cost of Goods Manufactured - Ending Finished Goods Inventory
From the Work in Process account, we see that the Cost of Goods Manufactured for the period is $379,000. From the Finished Goods Inventory account, we see that there were no beginning Finished Goods Inventory and the ending balance was $379,000. Therefore, the Cost of Goods Sold is:
Cost of Goods Sold = $379,000 - $379,000 = $0
This question should be provided as:
Granger Products recorded the following transactions for the just-completed month. The company had no beginning Inventories:
a. $75,000 In raw materials was purchased for cash.b. $73,000 in raw materials was requisitioned for use in production. Of this amount, $67,000 was for direct materials and the remainder was for Indirect materials.c. Total wages of $152,000 were incurred and paid. Of this amount, $134,000 was for direct labor and the remainder was for indirect labor.d. Additional manufacturing overhead costs of $126,000 were incurred and paid.e. Manufacturing overhead costs of $178,000 were applied to jobs using the company's predetermined overhead rate.f. All of the jobs in process at the end of the month were completed and shipped to customers.g. If overhead is underapplied in the period, it is closed out to the cost of goods sold. If overhead is overapplied in the period, It is based on the basis of the amount of allocated overhead that is in the ending balances in each account.Post the above transactions to T-accounts and determine the cost of goods sold for the period.
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Related Questions
On February 10, 2012, Rose was in an automobile accident while she was going to work. The doctor advised her to stay home for six months due to her injuries. On February 25, 2012, she filed a lawsuit. On July 20, 2012, Rose returned to work. On December 15, 2012, the lawsuit was settled and she received the following amounts.
$0
$25,000
$40,000
$65,000
Answers
The amounts received by Rose as a result of the lawsuit on December 15, 2012, are $25,000, $40,000, and $65,000.
The timeline provided indicates that Rose filed the lawsuit on February 25, 2012, and returned to work on July 20, 2012. Therefore, the lawsuit settlement amounts were received after she returned to work.
The amount of $0 could be related to legal fees or other expenses related to the lawsuit.
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both bond sam and bond dave have 9 percent coupons, make semiannual payments, and are priced at par value. bond sam has four years to maturity, whereas bond dave has 15 years to maturity. a. if interest rates suddenly rise by 2 percent, what is the percentage change in the price of bond sam and bond dave? (a negative answer should be indicated by a minus sign. do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) b. if rates were to suddenly fall by 2 percent instead, what would be the percentage change in the price of bond sam and bond dave? (do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answers
(a) The percentage change in the price of Bond Dave will be higher than that of Bond Sam because it has a longer maturity and thus a higher duration if the interest rates suddenly rise by 2 percent and
(b)The percentage change in the price of Bond Dave will be higher than that of Bond Sam for the same reason as in part a. if rates were to suddenly fall by 2 percent instead,
Bond Sam and Bond Dave have the same coupon rate and payment frequency but different maturities. Since they are priced at par, their yield to maturity is equal to their coupon rate.
a. If interest rates rise by 2%, the yield to maturity for both bonds will increase to 11%. The price of Bond Sam will be calculated using the formula: PV = (C/2)/((1+YTM/2)ⁿ) + (FV/((1+YTM/2)ⁿ)), where C is the semiannual coupon payment, YTM is the yield to maturity, n is the number of periods, and FV is the face value. Thus, the percentage change in the price of Bond Sam will be:
[(PV at 11% - PV at 9%)/PV at 9%] x 100% = [(40/((1+0.11/2)⁸)) + (1000/((1+0.11/2)⁸)) - (40/((1+0.09/2)⁸)) - (1000/((1+0.09/2)⁸))]/[(40/((1+0.09/2)⁸)) + (1000/((1+0.09/2)⁸))] x 100% = -12.44%
Therefore,The percentage change in the price of Bond Dave will be higher than that of Bond Sam.
b. If interest rates fall by 2%, the yield to maturity for both bonds will decrease to 7%. Using the same formula as above, the percentage change in the price of Bond Sam will be:
[(PV at 7% - PV at 9%)/PV at 9%] x 100% = [(40/((1+0.07/2)⁸)) + (1000/((1+0.07/2)⁸)) - (40/((1+0.09/2)⁸)) - (1000/((1+0.09/2)⁸))]/[(40/((1+0.09/2)⁸)) + (1000/((1+0.09/2)⁸))] x 100% = 11.91%
Here also,The percentage change in the price of Bond Dave will be higher than that of Bond Sam.
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Assume that the assumptions of the EOQ model hold good for a retailer. The order quantity is denoted Q.
All of the following statements are true, EXCEPT:
a. As Q increases, the number of orders per year increases
b. As Q increases the annual holding cost increases
c. As Q increases, the average inventory increases
d. As Q increases, the annual ordering cost decreases.
Answers
Given the statements about the order quantity (Q), all of the following are true EXCEPT: a. As Q increases, the number of orders per year increases.
The correct relationship is that as Q increases, the number of orders per year decreases. This is because the retailer orders larger quantities less frequently. The other statements accurately describe the relationship between Q and the relevant costs or inventory levels:
b. As Q increases, the annual holding cost increases, because the average inventory level is higher.
c. As Q increases, the average inventory increases, since the retailer has more stock on hand.
d. As Q increases, the annual ordering cost decreases, as fewer orders are placed throughout the year.
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as the level of activity increases: group of answer choices fixed cost per unit decrease. fixed cost per unit increase. variable cost per unit decrease. variable cost per unit increase.
Answers
As the level of activity increases, the fixed cost per unit decreases because the same amount of fixed cost is being spread over a larger number of units.
However, the variable cost per unit may increase or decrease depending on the nature of the variable cost. If the variable cost is a direct cost, then it will increase with an increase in activity. On the other hand, if the variable cost is an indirect cost, then it may decrease with an increase in activity due to economies of scale.
As the level of activity increases, fixed cost per unit decreases. This occurs because fixed costs remain constant in total, but as the activity level rises, the fixed costs are spread over a larger number of units, reducing the cost per unit. Variable costs per unit, on the other hand, remain constant regardless of the activity level.
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describe how a recession in one country may be transmitted to other countries. describe how a recession in one country may be transmitted to other countries. a recession in one country increases the money supply of other countries, shifting their lm curves up and to the left. a recession in one country increases the net exports of other countries, shifting their is curves down and to the left. a recession in one country reduces the net exports of other countries, shifting their is curves down and to the left. a recession in one country reduces the money supply of other countries, shifting their lm curves up and to the left.
Answers
A recession in one country can be transmitted to other countries through a reduction in net exports and an impact on their money supply, resulting in shifts in their IS and LM curves.
A recession in one country may be transmitted to other countries through various channels. One way is by reducing the net exports of other countries, which shifts their IS curves down and to the left.
This occurs because the country experiencing a recession will likely import less from other countries, leading to a decrease in demand for their goods and services. Another way a recession in one country can affect other countries is by influencing their money supply. A recession may cause a reduction in the money supply of other countries, shifting their LM curves up and to the left. This can happen when the central bank of the country in recession implements monetary policies that affect international financial markets, leading to changes in the exchange rates and capital flows between countries.In summary, a recession in one country can be transmitted to other countries through a reduction in net exports and an impact on their money supply, resulting in shifts in their IS and LM curves.know more about the recession
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Description Write a one page A-4 essay arguing: 1. Do you think the way to define employment will change in the future? Why or why not? 2. What should be the definition of employment in the future? Ma
Answers
The way we define employment has already changed significantly over the past few decades, and it's likely to continue evolving in the future.
The rise of the gig economy and remote work have already challenged traditional notions of what it means to be employed. Additionally, technological advancements in automation and artificial intelligence could further alter the employment landscape, leading to more jobs being replaced by machines.
As a result, it's reasonable to expect that the definition of employment will continue to shift as our economy and society adapt to these changes. However, what exactly the new definition will look like is difficult to predict. Some experts have suggested that we may need to rethink the traditional employment contract, which assumes a full-time, long-term commitment to a single employer. Instead, we may need to develop new models that accommodate the growing number of workers who want more flexibility and control over their schedules.
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Change in Estimate
Assume that Bloomer Company purchased a new machine on January 1, 2017, for $80,000. The machine has an estimated useful life of nine years and a residual value of $8,000. Bloomer has chosen to use the straight-line method of depreciation. On January 1, 2019, Bloomer discovered that the machine would not be useful beyond December 31, 2022, and estimated its value at that time to be $2,000.
Required:
1. Calculate the depreciation expense, accumulated depreciation, and book value of the asset for each year 2017 to 2022. If necessary, round any depreciation calculations to the nearest dollar.
Year Depreciation
Expense Accumulated
Depreciation Book Value
2017 $ $ $
2018 2019 2020 2021 2022
Answers
That the book value of the asset at the end of 2022 is equal to its estimated value of $2,000, which means that the asset has been fully depreciated.
Using the straight-line method of depreciation, the annual depreciation expense for the machine can be calculated as follows:
Cost of the asset: $80,000
Residual value: $8,000
Useful life: 9 years
Annual depreciation expense = (Cost of asset - Residual value) / Useful life
Annual depreciation expense = ($80,000 - $8,000) / 9
Annual depreciation expense = $8,000
Calculate the depreciation expense, accumulated depreciation, and book value of the asset for each year 2017 to 2022:
Year Depreciation Expense Accumulated Depreciation Book Value
2017 $8,000 $8,000 $72,000
2018 $8,000 $16,000 $64,000
2019 $8,000 $24,000 $56,000
2020 $8,000 $32,000 $48,000
2021 $8,000 $40,000 $40,000
2022 $4,000 $44,000 $36,000
On January 1, 2019, Bloomer estimated that the machine would not be useful beyond December 31, 2022, and estimated its value at that time to be $2,000. This means that the machine will have a remaining useful life of four years (2019 to 2022) instead of the original seven years (2017 to 2023).
To adjust for this change in estimate, Bloomer should recalculate the depreciation expense for the remaining useful life of the asset using the revised estimate of the machine's value at the end of its useful life:
Cost of the asset: $80,000
Residual value: $2,000
Revised useful life: 4 years
Annual depreciation expense = (Cost of asset - Residual value) / Revised useful life
Annual depreciation expense = ($80,000 - $2,000) / 4
Annual depreciation expense = $19,500
Therefore, the depreciation expense for 2019 to 2022 will be $19,500 per year. The adjusted depreciation expense, accumulated depreciation, and book value for each year are as follows:
Year Depreciation Expense Accumulated Depreciation Book Value
2017 $8,000 $8,000 $72,000
2018 $8,000 $16,000 $64,000
2019 $19,500 $35,500 $44,500
2020 $19,500 $55,000 $25,000
2021 $19,500 $74,500 $5,500.
2022 $2,500 $77,000 $3,000.
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One day, consumer advocate Skippy Jif discovers that all brands of peanut butter in Nutville are identical. Thereafter, the market becomes perfectly competitive and again reaches its long-run equilibrium.
On the previous graph, use the grey point (star symbol) to show the market price in this case and the quantity produced by each firm.
Which of the following statements is true for a typical firm in this market given the transition from monopolistic competition to perfect competition? Check all that apply.
Average total cost remains unchanged.
Marginal cost decreases.
The quantity decreases.
The price decreases.
Profit remains unchanged.
Answers
A typical firm in this market experiences unchanged average total cost, potential decrease in quantity, lower prices, and possibly lower profits during the transition from monopolistic competition to perfect competition.
In a perfectly competitive market, firms are price takers, and the market reaches its long-run equilibrium where each firm earns zero economic profit.
Therefore, the market price in this case will be at the minimum point of the average total cost curve, which is where the grey point (star symbol) should be placed on the graph.
Each firm will produce at the minimum point of its average total cost curve, which will result in a quantity produced that is greater than under monopolistic competition.
Given the transition from monopolistic competition to perfect competition, the following statements are true for a typical firm in this market:
- Average total cost decreases because firms are now producing at their efficient scale, where they are minimizing their average total cost.
- Marginal cost remains the same because firms are still using the same production methods.
- The quantity increases because firms are now producing at their efficient scale.
- The price decreases because the market is now perfectly competitive, and firms cannot charge a higher price.
- Profit decreases to zero because firms are earning only normal profit in the long-run equilibrium.
When the market in Nutville transitions from monopolistic competition to perfect competition, consumer advocate Skippy Jif's discovery leads to the following changes for a typical firm in the market:
1. Average total cost remains unchanged: This is because the cost structure of the firm does not change due to the transition from monopolistic to perfect competition.
2. Marginal cost does not necessarily decrease, as the change in market structure does not inherently affect production costs.
3. The quantity produced by each firm may decrease, since in a perfectly competitive market, firms are price takers and produce at the point where their marginal cost equals the market price. This could lead to lower production levels compared to monopolistic competition, where firms have some degree of price-setting power.
4. The price decreases, as firms in a perfectly competitive market are price takers and cannot set prices above the market equilibrium. In monopolistic competition, firms have some degree of price-setting power, allowing them to charge higher prices.
5. Profit may change, but it's likely to decrease. In the long-run equilibrium of a perfectly competitive market, firms earn normal profits (zero economic profits). In monopolistic competition, firms may earn short-term economic profits, but these are likely to be eroded in the long run as new firms enter the market. The transition to perfect competition can potentially reduce profit margins for each firm.
In summary, a typical firm in this market experiences unchanged average total cost, potential decrease in quantity, lower prices, and possibly lower profits during the transition from monopolistic competition to perfect competition.
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in a(n) culture, employees recognize the importance of remaining flexible in their work roles.
Answers
In a dynamic culture, employees understand the significance of being adaptable and versatile in their job responsibilities.
Employees are open to change and willing to learn new skills to better serve the organization. This flexibility allows them to easily transition between tasks and projects, ultimately increasing their efficiency and effectiveness in the workplace. Embracing a flexible mindset also promotes collaboration and teamwork among colleagues, leading to a more cohesive and successful organization.
In an adaptable culture, employees recognize the importance of remaining flexible in their work roles. This type of culture promotes openness to change, adaptability, and a willingness to take on new responsibilities as needed to meet the organization's goals and objectives. Employees in an adaptable culture are typically more open to learning new skills and working collaboratively to find innovative solutions to challenges.
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if wendy's airs a television advertisement delivering a message about a special promotion at its restaurants, wendy's is the blank in the communication process. multiple choice question. noise channel receiver decoder sender
Answers
If Wendy's airs a television advertisement delivering a message about a special promotion at its restaurants, Wendy's is the sender in the communication process.
The communication process involves multiple elements, including the sender, message, channel, receiver, and feedback. In this scenario,
Wendy's is the one initiating the message by creating and airing the television advertisement. The message is the special promotion at Wendy's restaurants,
and the channel is the television medium through which the message is being transmitted. The receiver is the audience who sees the advertisement and is intended to receive the message.
Finally, feedback would be any response or action taken by the audience in response to the advertisement.
As for the multiple-choice question, the answer is sender, as explained above. Noise refers to any external or internal factors that may interfere with the transmission or reception of the message,
such as background noise or personal biases. The channel is the medium through which the message is transmitted, such as television or radio.
The receiver is the intended audience who receives the message, and the decoder is the process of interpreting and understanding the message.
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15 As the financial crisis and Great Recession unfolded during 2007-2009, the Fed reduced the policy interest rate from 5.25 percent to Opercent. Discuss how the multiplier effect magnifies the impact of reduction in interest rates
Answers
This cycle continues, causing a chain reaction that magnifies the initial change in spending. In the case of the Fed's interest rate reduction, the multiplier effect amplified the impact of the lower interest rates, helping to stimulate economic activity during the crisis.
During the financial crisis and Great Recession of 2007-2009, the Federal Reserve (Fed) reduced the policy interest rate from 5.25 percent to 0 percent. This reduction in interest rates led to a magnified impact on the economy due to the multiplier effect.
The multiplier effect occurs when a change in spending (such as a reduction in interest rates) leads to an even larger change in income and output. When interest rates are lowered, borrowing becomes cheaper, which encourages businesses and consumers to take out loans and invest in new projects or make purchases. This increased spending leads to higher demand for goods and services, resulting in increased production and income.
As income increases, consumers spend more, which creates further demand for goods and services, leading to even more production and income. This cycle continues, causing a chain reaction that magnifies the initial change in spending. In the case of the Fed's interest rate reduction, the multiplier effect amplified the impact of the lower interest rates, helping to stimulate economic activity during the crisis.
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An increase in the personal income tax on interest income will:
A) Decrease desired saving because the expected after-tax real interest rate falls
B) Increase desired saving because the expected after-tax real interest rate rises
C) Decrease desired saving because the expected after-tax real interest rate rises
D) Increase desired saving because the expected after-tax real interest rate falls
E) Be uncertain
Answers
An increase in personal income tax on interest income is likely to have a significant impact on individuals' savings behavior. As the tax rate on interest income increases, the expected after-tax real interest rate also rises. This means that the real return on savings will be reduced, which will make saving less attractive for individuals. Hence, the correct answer is option C.
Consequently, individuals may reduce their desired savings in response to the tax increase. This reduction in savings can have a negative impact on economic growth as it can reduce the funds available for investment.
However, it is essential to note that the impact of tax increases on savings behaviour can be uncertain. The extent to which individuals will adjust their savings behaviour in response to tax changes will depend on various factors, including their level of income, risk preferences, and the availability of alternative investment opportunities. In addition, the impact of tax increases on savings behaviour may be influenced by other factors such as changes in interest rates, inflation, and economic conditions. Therefore, the exact impact of tax increases on savings behaviour may be difficult to predict and uncertain.
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Pride college is an online university that grants various business degrees at a steep cost. these degrees are not yet competitive in the market. this is a risky situation for pride college. in which risk category does this risk belong:__________
Answers
The risk faced by Pride College, an online university that grants various business degrees at a steep cost with degrees not yet competitive in the market, can be categorized as "Strategic Risk."
Strategic risks are uncertainties or potential events that can negatively impact an organization's ability to achieve its long-term objectives. In the case of Pride College, the high cost of the degrees combined with their limited competitiveness in the market presents a significant strategic risk. This risk may affect the college's ability to attract students, maintain its reputation, and ultimately achieve its goal of providing quality education and producing successful graduates.
To address this strategic risk, Pride College should consider evaluating the factors that contribute to the lack of competitiveness of their degrees and identify ways to enhance their value in the market. This may include lowering the costs, improving the curriculum, partnering with industry leaders, or increasing the school's overall reputation through marketing and branding efforts. By addressing these issues, Pride College can mitigate the strategic risk and improve its long-term viability in the competitive education market.
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What is interdependence under oligopoly?
Answers
Interdependence under oligopoly refers to the relationship between firms in an industry where each firm's actions affect the behavior and profitability of its competitors.
In oligopoly, a small number of firms dominate the market, and each firm must consider the actions and reactions of its competitors when making strategic decisions.
Because of the interdependence of firms in an oligopolistic market, each firm must anticipate and respond to the actions of its competitors in order to maintain its market share and profitability.
This interdependence can lead to a variety of strategic interactions between firms, including price wars, tacit collusion, and strategic alliances. Price wars occur when firms compete aggressively on price, often resulting in lower profits for all firms involved.
Tacit collusion occurs when firms coordinate their behavior without explicit communication, often through a series of implicit signals. Strategic alliances occur when firms cooperate with each other in order to achieve common goals.
Overall, the interdependence of firms under oligopoly can lead to complex and dynamic market behavior, as firms constantly adapt to the actions of their competitors in order to maintain their market position and profitability.
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In where 112 te 312 case of competitive firm cost function is clq) = 20,"req 9 by maximizing profit (IT) TY - Pq - C(q) find the product supply function q= q (r., rei 2 )
Answers
q = (r - 2s) / 40 is the supply function.
What is the supply function?To find the supply function for the competitive firm, we need to maximize its profit function with respect to the quantity produced. The profit function is given by:
π[tex](q) = pq - c(q)[/tex]
where p is the price of the product, q is the quantity produced, and c(q) is the cost function.
In this case, the price is equal to the market price, which is given by r - 2s, where r is the revenue received by the firm and s is the total supply of all firms in the market. Thus, the profit function becomes:
π[tex](q) = (r - 2s)q - 20q^2[/tex]
To maximize this profit function, we need to take its derivative with respect to q and set it equal to zero:
π[tex]'(q) = r - 2s - 40q = 0[/tex]
Solving for q, we get:
[tex]q = (r - 2s) / 40[/tex]
This is the supply function for the competitive firm. It shows the quantity of the product that the firm will supply for any given market price, depending on the total supply in the market.
the steps to find the product supply function are as follows:
Write down the profit function: π[tex](q) = pq - c(q)[/tex]Substitute the given price as r - 2s: π[tex](q) = (r - 2s)q - 20q^2[/tex]Take the derivative of the profit function with respect to q: π'(q) = r - [tex]2s - 40q[/tex]Set the derivative equal to zero and solve for q: [tex]q = (r - 2s) / 40[/tex]This is the supply function for the competitive firm: [tex]q = q(r, s)[/tex]Learn more about supply function
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Property taxes and insurance premiums paid on a factory building are examples of period costs.
a. True
b. False
Answers
The statement "Property taxes and insurance premiums paid on a factory building are examples of period costs" is false because period costs are expenses that are not directly related to the production process and cannot be assigned to a specific unit of product.
They are expenses that are incurred over a period of time, such as rent, salaries, and advertising costs. On the other hand, property taxes and insurance premiums paid on a factory building are examples of fixed costs or indirect costs. These costs are directly related to the production process and can be assigned to a specific unit of product. Fixed costs are expenses that remain constant regardless of the level of production.
It is important to correctly categorize costs in order to properly calculate the cost of goods sold and determine the profitability of the business. Therefore, it is important to understand the difference between period costs and fixed costs.
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View Policies Current Attempt in Progress Riverbed Corporation is interested in acquiring Richmond Plastics Limited. Richmond has determined that its excess earnings have averaged approximately $176,400 and feels that such an amount should be capitalized over an unlimited period at a 14% rate. Riverbed feels that, because of increased competition, the excess earnings of Richmond Plastics will continue for 8 years at the most and that a 12% discount rate is appropriate. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a) How far apart are the positions of these two parties? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.) Difference $
Answers
The positions of the two parties are $382,010.26 apart.
To calculate the difference between the positions of the two parties, we need to find the present value of the excess earnings as calculated by each party using their respective discount rates and periods.
Using Richmond's method:
Present value of excess earnings = Excess earnings / Capitalization rate
= $176,400 / 0.14
= $1,260,000
Using Riverbed's method:
Present value of excess earnings = Excess earnings * Present value factor for an annuity of 1 at 12% for 8 years
= $176,400 * 4.96764
= $877,989.74
The difference between the two values is:
$1,260,000 - $877,989.74 = $382,010.26.
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currency includes: group of answer choices paper money and coins. paper money, coins, and checks. paper money and checks. paper money, coins, checks, and savings deposits.
Answers
Currency refers to the medium of exchange that is widely accepted and used within an economy. It is essential to facilitate trade, commerce, and economic transactions.
The various forms of currency include paper money, coins, checks, and savings deposits. Paper money and coins are the most traditional forms of currency. Paper money refers to banknotes issued by the central bank or government, while coins are metallic pieces stamped with a denomination. Both paper money and coins are widely used in daily transactions for goods and services. Checks are another form of currency used in financial transactions. They are essentially written orders directing the bank to pay a specified sum of money from the account of the person who wrote the check. Checks are widely used for larger transactions and are a convenient way to transfer funds without carrying cash. Savings deposits, also known as bank deposits, are another form of currency. They refer to the funds deposited in a bank or other financial institution, which can be withdrawn or transferred to other accounts. Savings deposits also earn interest, making them a popular way of saving money. In summary, currency includes paper money, coins, checks, and savings deposits. Each of these forms of currency plays an essential role in facilitating economic transactions and trade within an economy.
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a couple has a good income and excellent credit. they want to buy and renovate a home in an economically distressed neighborhood, but have been turned down by 3 different lenders. this is most likely an example of: select one: a. good judgement on the part of the lenders b. blockbusting c. redlining d. steering
Answers
Based on the information provided, the most likely answer to this question is "c. redlining." Redlining is a discriminatory practice where lenders refuse to provide loans or insurance to people based on their race, ethnicity, or the economic conditions of the neighborhood they want to invest in. In this case,
the couple has a good income and excellent credit, which suggests that their loan applications were rejected not because of their financial capacity to repay the loan but because of the location of the property they want to buy.
Redlining is considered unethical and illegal under the Fair Housing Act of 1968, which prohibits discrimination in the sale, rental, and financing of housing based on race, color, national origin, religion, sex, familial status, or disability.
The act was passed to promote fair housing opportunities for all Americans, regardless of their background or economic status.
If the couple suspects that they have been redlined, they can file a complaint with the Department of Housing and Urban Development (HUD) or seek legal assistance from a housing discrimination attorney.
They can also try to find alternative lenders or government programs that offer loans or grants for revitalizing distressed neighborhoods.
By overcoming redlining, the couple can not only achieve their dream of owning a home but also contribute to the economic development of their community.
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a keynesian economist who observes a negative output gap (i.e., as-ad intersection to the left of the full employment level of output) would conclude that ____
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A Keynesian economist who observes a negative output gap would conclude that the economy is not operating at full potential and that there is a need for government intervention through increased government spending or tax cuts to stimulate aggregate demand and bring the economy back to full employment in terms of output.
This is in line with the Keynesian theory of macroeconomics, which emphasizes the role of government intervention in stabilizing the economy during periods of recession or low economic growth.Learn more about Keynesian economists: https://brainly.com/question/29769214
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when simulation results are presented to management, the information presented should include how the study was conducted, numerical of the simulation and documentation of the of the simulation model.
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To present simulation results to management, include the study's methodology, numerical data, and documentation of the simulation model. This ensures transparency and a comprehensive understanding of the results.
When presenting simulation results to management, it is essential to provide a clear and concise overview of how the study was conducted. This includes the objectives, assumptions, and any limitations of the simulation model.
Next, present the numerical data, which consists of the input parameters, output results, and any statistical analysis performed on the data. This helps management understand the performance of the simulation and its relevance to the business.
Lastly, provide documentation of the simulation model, such as flowcharts, diagrams, or written descriptions, to help management visualize the processes and interactions within the model.
Providing a step-by-step explanation of the model's logic and functionality allows management to assess the validity and usefulness of the simulation results in making informed decisions.
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The differences between actual and standard costs are called _______________ variances.
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The differences between actual and standard costs are called "cost variances". Cost variances are calculated by subtracting the standard cost from the actual cost, and the resulting difference is the cost variance.
The cost variance can be either favorable or unfavorable, depending on whether the actual cost is less than or greater than the standard cost.
Favorable cost variances occur when actual costs are lower than standard costs. This could be due to factors such as better efficiency, lower material costs, or reduced labor costs. Unfavorable cost variances occur when actual costs are higher than standard costs, which could be caused by factors such as poor production planning, higher labor costs, or increased material costs.
Cost variances are an important tool for managers to analyze the performance of their operations. By identifying the factors that cause cost variances, managers can make adjustments to improve efficiency and reduce costs in the future. For example, if a company consistently has unfavorable labor cost variances, they may need to reevaluate their training programs or invest in new equipment to improve productivity.
In summary, cost variances are the differences between actual and standard costs, and they provide valuable information for managers to make informed decisions about their operations.
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Victoria, the lessee is negotiating to lease a condo from sanchez, the lessor. they have agreed on the monthly lease payment, term of lease, security deposit, and so forth. victoria plans to start moving in on the first day of next month. What applies to this situation?
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Since she plans to move in on the first day of next month, it is important for her to ensure that all necessary paperwork is signed and the security deposit is paid in order to secure the lease.
In this situation, Victoria (the lessee) and Sanchez (the lessor) have agreed on the terms of the lease for the condo, including monthly lease payment, term of lease, security deposit, and other relevant details. Since Victoria plans to move in on the first day of next month, the lease agreement will likely commence on that date. Here's a step-by-step explanation:
1. Victoria and Sanchez negotiate the terms of the lease.
2. They agree on the monthly lease payment, term of lease, security deposit, and other necessary details.
3. Victoria's move-in date is set for the first day of next month.
4. The lease agreement commences on the move-in date, and both parties must adhere to the agreed-upon terms throughout the duration of the lease.
Remember to have a written lease agreement signed by both parties to ensure that all terms and conditions are clear and legally binding.
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Refer to the data. How many units of me two products will the rational consumer purchase? a. 3 of L and none of M b. 4 of L and 2 of M c. 3 of L and 5 of M d. 2 of L and 3 of M
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Based on the given data, the rational consumer will purchase the combination of products that provides the highest marginal utility per dollar spent.
To determine this, we can calculate the marginal utility per dollar for each combination. The marginal utility per dollar for product L is 20/5 = 4, and for product M it is 25/10 = 2.5. Therefore, the rational consumer would purchase a combination of L and M that provides a marginal utility per dollar of at least 4 for L and 2.5 for M. Option a provides a total marginal utility per dollar of (3x4) + (0x2.5) = 12. Option b provides a total marginal utility per dollar of (4x4) + (2x2.5) = 18. Option c provides a total marginal utility per dollar of (3x4) + (5x2.5) = 22.5. Option d provides a total marginal utility per dollar of (2x4) + (3x2.5) = 13. Therefore, the rational consumer would purchase option c, which provides the highest total marginal utility per dollar.
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For Swifty Company, units to be produced are 5,400 in quarter 1 and 7,560 in quarter 2. It takes 1.6 hours to make a finished unit, and the expected hourly wage rate is $20 per hour.
Prepare a direct labor budget by quarters for the 6 months ending June 30, 2022.
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To prepare a direct labor budget for Swifty Company, we need to calculate the total direct labor hours required to produce 5,400 units in quarter 1 and 7,560 units in quarter 2.
Given, it takes 1.6 hours to make a finished unit. Therefore, to produce 5,400 units in quarter 1, the total direct labor hours required will be:
5,400 units x 1.6 hours per unit = 8,640 direct labor hours
Similarly, to produce 7,560 units in quarter 2, the total direct labor hours required will be:
7,560 units x 1.6 hours per unit = 12,096 direct labor hours
Now, we need to calculate the cost of direct labor. The expected hourly wage rate is $20 per hour. Therefore, the total direct labor cost for each quarter will be:
Quarter 1: 8,640 direct labor hours x $20 per hour = $172,800
Quarter 2: 12,096 direct labor hours x $20 per hour = $241,920
Thus, the direct labor budget for the 6 months ending June 30, 2022, will be as follows:
Quarter 1:
Direct labor hours required: 8,640
Direct labor cost: $172,800
Quarter 2:
Direct labor hours required: 12,096
Direct labor cost: $241,920
Swifty Company needs a total of 8,640 direct labor hours to produce 5,400 units in quarter 1 and 12,096 direct labor hours to produce 7,560 units in quarter 2. The total direct labor cost for the 6 months ending June 30, 2022, will be $414,720.
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Shortly after September 11, 2001, the United States began requesting additional financial information about persons of interest by subpoenaing records located at the SWIFT banking consortium. SWIFT, which routes trillions of dollars a day, faced an ethical dilemma: fight the subpoenas in order to protect member privacy and the group's reputation for the highest level of confidentiality, or, comply and provide information about thousands of financial communications in the hope that lives will be saved. SWIFT decided to comply in secret, but in late June 2006, four major U.S. newspapers disclosed SWIFT's compliance. This sparked a heated public debate over the ethics of SWIFT's decision to reveal ostensibly confidential financial communications.
Analyzing the situation in hindsight, three ethical justifications existed for not complying with the Treasury Department's requests. First, SWIFT needed to uphold its long-standing values of confidentiality, non-disclosure, and institutional trust. The second ethical reason against SWIFT's involvement came with inadequate government oversight as the Treasury Department failed to construct necessary safeguards to ensure the privacy of the data. Third, international law must be upheld and one could argue quite strongly that the government's use of data breached some parts of international law.
Although SWIFT executives undoubtedly considered the aforementioned reasons for rejecting the government's subpoena, three ethical justifications for complying existed. First, it could be argued that the program was legal because the United States government possesses the authority to subpoena records stored within its territory and SWIFT maintained many of its records in Virginia. Second, it is entirely possible that complying with the government's subpoena thwarted another catastrophic terrorist attack that would have cost lives and dollars. Third, cooperating with the government did not explicitly violate any SWIFT policies due to the presence of a valid subpoena. However, the extent of cooperation certainly surprised many financial institutions and sparked some outrage and debate within the financial community.
While SWIFT had compelling arguments both for agreeing and refusing to cooperate with the U.S. government program, even in hindsight, it is impossible to judge with certitude the wisdom and ethics of SWIFT's decision to cooperate as we still lack answers to important questions such as: what information did the government want? What promises did the government make about data confidentially? What, if any, potentially impending threats did the government present to justify its need for data?1) Which of the following can be inferred from the passage?
A) No clear cut answer as to the legality of SWIFT's cooperation existed
B) SWIFT failed to adequately consult its legal staff before deciding to cooperate
C) The volume of money routed through SWIFT declined after its cooperation became public
D) U.S. authorities threatened criminal charges if SWIFT refused their subpoenas
E) Treasury Department officials objected to the publication of information about its classified program
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It can be inferred from the passage that 'No clear cut answer as to the legality of SWIFT's cooperation existed'. Therefore, the correct option is option A.
The passage discusses various ethical justifications both for and against SWIFT's cooperation with the U.S. government, indicating that there was no definitive answer regarding the legality of their actions. This can be inferred from the passage because the author presents both ethical justifications for complying and for refusing to comply with the government's subpoenas, indicating that there was not a clear consensus on whether it was legally or ethically right to cooperate with the program.
It is also mentioned that there are unanswered questions about the information requested, government promises about data confidentiality, and potential threats presented by the government. This further suggests that a clear-cut answer about the legality of SWIFT's cooperation is not available. Hence, the correct option is A: No clear cut answer as to the legality of SWIFT's cooperation existed.
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Asteroid Industries accumulated the following cost information for the year. Salesperson salaries Indirect materials Indirect labor Factory depreciation Direct labor $ 15,400 3,400 7,900 12,200 36,400 Using the above information, total factory overhead costs equal: Multiple Choice $23.500 $15,600 $51,800. nnn
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The total factory overhead costs equal $23,500. The total factory overhead costs are the sum of indirect materials, indirect labor, and factory depreciation.
Based on the cost information provided, the total factory overhead costs for Asteroid Industries can be calculated as follows:
Indirect materials + Indirect labor + Factory depreciation
To calculate the total factory overhead costs, you need to add indirect materials, indirect labor, and factory depreciation.
1. Indirect materials: $3,400
2. Indirect labor: $7,900
3. Factory depreciation: $12,200
Total factory overhead costs = Indirect materials + Indirect labor + Factory depreciation
Total factory overhead costs = $3,400 + $7,900 + $12,200 = $23,500
So, the total factory overhead costs equal $23,500.
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which of the following is not one of the ways to change the overall level of capacity to match demand variations? use part-time employees ask customers to share invite customers to perform self-service share facilities with the supplier
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The option that is not one of the ways to change the overall level of capacity to match demand variations is "share facilities with the supplier." This option does not directly relate to adjusting the level of capacity to match demand variations.
The other three options - using part-time employees, asking customers to share, and inviting customers to perform self-service - all involve making adjustments to the amount of resources available to meet changes in demand. Using part-time employees can help a business increase capacity during peak periods without committing to full-time employees.
Asking customers to share resources or perform self-service can help a business match demand variations while also reducing labor costs.
However, sharing facilities with the supplier may not necessarily help a business adjust capacity to match demand variations, as it may not directly affect the business's ability to produce and deliver goods or services.
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The ______ function of management includes hiring people to carry out the work of the organization. It includes determining what skills are needed for specific jobs, recruiting people for positions, and motivating and training employees in preparation for higher level jobs in the firm.
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The function of management that includes hiring people to carry out the work of the organization is the staffing function. The staffing function includes determining what skills are needed for specific jobs, recruiting people for positions, and motivating and training employees in preparation for higher level jobs in the firm.
This function is essential to the success of the organization as it ensures that the right people with the right skills are in the right positions to carry out the work of the organization effectively.
The staffing function of management plays a critical role in ensuring that the organization has a competent and motivated workforce that can meet its objectives and goals.
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true or false,if the likelihood of a loss is reasonably possible rather than probable, we record no entry, but make full disclosure in a note to the financial statements to describe the contingency.
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True. If the likelihood of a loss is reasonably possible but not probable, we do not record an entry, but we do make a full disclosure in the notes to the financial statements to describe the contingency.
This ensures that the users of the financial statements are aware of the potential loss and can make informed decisions based on this information.
If the likelihood of a loss is reasonably possible but not probable, then according to the Generally Accepted Accounting Principles (GAAP), a company should not record the loss as an entry in the financial statements. However, the company should make full disclosure of the contingency in a note to the financial statements to describe the nature of the contingency, the potential impact on the financial statements, and any other relevant information.
This disclosure helps users of the financial statements to assess the potential risks and uncertainties faced by the company.
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