Direct materials variance is calculated by comparing the actual costs incurred for the direct materials purchased to the standard costs allowed for the actual quantity of materials used.
This variance is divided into two variances: the price variance and the quantity variance.
The direct materials price variance is the difference between the actual price paid for the materials and the standard price for the materials, multiplied by the actual quantity of materials purchased. Trials used and the standard quantity of materials allowed, multiplied by the standard price per unit of the materials.
Standard cost for direct materials = 2 pounds × $10.00 per pound = $20.00 per unit Direct materials purchased = 3,000 pounds Actual cost of direct materials = $11,400Direct materials price variance = (Actual price − Standard price) × Actual quantity purchased Direct materials price variance = ($11,400 − (3,000 pounds × $10 per pound)) = $11,400 − $30,000 = -$18,600
The direct materials price variance for last month was $18,600 unfavorable because the actual cost of direct materials was $18,600 more than the standard cost of direct materials.
The correct option is: $18600 unfavorable.
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Lee purchased a stock one year ago for $28. The stock is now worth $33, and the total return to Lee for owning the stock was 0.37. What is the dollar amount of dividends that he received for owning the stock during the year? Round to two decimal places.
The formula for total return is given as follows:
Total return = capital gain/loss + dividend yield
For example, capital gain/loss = (ending stock price – initial stock price) / initial stock price
Dividend yield is calculated as follows:
Dividend yield = dividends per share / stock price Initial stock price= 28
Ending stock price = 33
Total return to Lee = 0.37
Capital gain/loss = Total return - dividend yield0.37
= (33-28)/28 + dividend yield
Dividend yield = 0.12 = dividend / 28
Dividend = 3.36 dollars for owning the stock during the year.
So, the dollar amount of dividends Lee received for owning the stock during the year is 3.36.
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of the four major activities in scenario planning, which involves the scenario planning group and the leadership team discussing implications of each scenario, including opportunities and threats to the organization for each alternative
Of the four major activities in scenario planning moving from scenarios to a decision.
In scenario planning, you make predictions and how your company's environment will evolve in response to it. The identification of a specific group of uncertainties, or different "realities," of what might happen in the future of your firm, is a more precise description of scenario planning.
The terms scenario planning, scenarios thinking, scenario analysis, scenario prediction, and the scenario approach all refer to a flexible long-term planning technique used by some organizations. It is largely an adaptation and generalization of traditional military intelligence techniques.
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Click to see additional instructions The nominal interest rate is 12%. The tax rate on nominal interest is 25%. The after tax nominal interest rate is
The nominal interest rate refers to the interest rate before adjusting for inflation, while the after-tax nominal interest rate refers to the real interest rate adjusted for taxes. Therefore, the after-tax nominal interest rate is calculated by subtracting the tax rate from the nominal interest rate and calculating the remaining amount.
For example, given a nominal interest rate of 12% and a tax rate of 25%, the after-tax nominal interest rate is calculated as follows:
After-tax nominal interest rate = (1 - tax rate) × nominal interest rate= (1 - 0.25) × 12%
= 0.75 × 12%
= 9%
Therefore, the after-tax nominal interest rate is 9%. The after-tax nominal interest rate is the rate of return on an investment after taxes have been paid.
The after-tax nominal interest rate is used to compare the relative profitability of different investment opportunities. For example, if two investment opportunities have the same nominal interest rate but different tax rates, the after-tax nominal interest rate can help determine which investment opportunity is more profitable.
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write a product release of a new restaurant opening .
information needed:
catchy headline
product release date: 12/08/2022
this is the first of its kind restaurant in that area
restaurant name: kia's
Product ReleaseKia's restaurant is the first of its kind in the area, offering an unparalleled dining experience. It is set to open its doors on December 8, 2022, and we are excited to announce the launch of this exceptional restaurant.
Kia's will be your ultimate destination for authentic, exotic flavors that will take you on a culinary journey like no other. Our menu is curated with the freshest ingredients and will cater to all types of palettes. Kia's chefs have created a mouthwatering array of dishes that will tantalize your taste buds. From appetizers to entrees to desserts, there is something for everyone.
Our restaurant offers a warm and welcoming atmosphere, where you can relax and indulge in the flavors of our food. Kia's is the perfect place for a romantic dinner, family gathering, or corporate event. Our friendly staff will ensure that your dining experience is seamless and unforgettable.
So join us on December 8, 2022, and experience the magic of Kia's restaurant. We look forward to welcoming you!Catchy Headline: "Introducing Kia's: The First-of-its-Kind Restaurant in the Area!"
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Roger contracts to paint Mrs. White's house for $500. Afterwards Roger informs Mrs. White that he has won the lottery and does not intend to ever pick up a paintbrush again. Mrs. White then hires David to paint the house for $750 and sues Roger for the increased cost ($250) of hiring David to paint her house. Mrs. White is seeking:
Group of answer choices
A. loss in value damages (compensatory)
B. consequential damages
C. punitive damages
D. liquidated damages
Kim and Jeff went to college together at E.O.U. Kim moves to Portland after graduation and Jeff remains in La Grande. Kim starts a successful business and during a telephone conference tells Jeff that she is shorthanded and would pay him union scale if he came to work for her. Jeff quits his job in La Grande, rents a U-Haul and moves to Portland. However, when he shows up at Kim's office, she informs him that she just lost a major customer and cannot hire any new employees at present. Jeff sues to enforce their agreement. A court will most likely hold that the agreement:
Group of answer choices
A. was unenforceable because of the parole evidence rule.
B. was unenforceable because it was not put into writing.
C. was enforceable under the U.C.C.
D. was enforceable based on promissory estoppel.
Answer: Mrs. White is seeking consequential damages. In the given case, Roger contracts to paint Mrs. White's house for $500. However, Roger informs Mrs. White that he has won the lottery and does not intend to ever pick up a paintbrush again.
Then Mrs. White hires David to paint the house for $750 and sues Roger for the increased cost ($250) of hiring David to paint her house. Consequential damages are damages that are awarded to compensate for damages that have resulted from an action.
They are often called special damages because they are unique to each situation. In this case, Mrs. White incurred damages as a direct result of Roger's breach of the painting contract. Therefore, Mrs. White is seeking consequential damages.
Further Explanation: The contract is the agreement between two parties to do something in exchange for something else. It is a legally binding agreement, and if either party breaches the contract, the other party may be entitled to damages.
Damages are the legal remedy for a breach of contract, and they are designed to put the non-breaching party in the position they would have been in if the contract had been performed. There are several types of damages that may be awarded for a breach of contract.
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$250 is invested at t=0. For t=0 to t=1 the investment earns 0.04 effective annual interest, and from t=1 to t=2 the investment earns 0.10 nominal semi annual interest. Find the accumulated value of the investment at t=2.
a. 286.65
b. 357.63
c. 185.56
The accumulated value of the investment at t=2 is $286.65. Hence, the answer is option (a) 286.65.
Let us apply the formula that represents the future value of a lump sum invested at time t = 0 which is as follows:
FV = PV x (1 + r)^ n
Where
FV: future value of the investment at time t = 2
PV: present value of the investment at time t = 0
r: nominal semi-annual interest
n: number of semi-annual periods
From t = 0 to t = 1, the investment earns an effective annual interest rate of 0.04. So the interest rate for one semi-annual period is (1 + 0.04)^(1/2) - 1 = 0.0196.
From t = 1 to t = 2, the investment earns a nominal semi-annual interest rate of 0.10. So the interest rate for one semi-annual period is 0.10 / 2 = 0.05.So we have:
FV = 250 x (1 + 0.0196)^2 x (1 + 0.05)^2 = 286.65
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Our construction project manager has 4 pieces of equipment to be added to the yard. (at a general contractors work site) Do capital analysis on all 4 pieces of equipment and enter the results in the summary excel form. Perhaps you could use Falcon Crest as a template. Make a decision as to which pieces of equipment are most profitable using the profitability index. Each auction sheet has various facts and information on them, you may or may not need all the information in your calculations. Attached are 4 auction bid sheets of the equipment and an excel summary sheet. SUMMARY Requirement 1: using separate tools and techniques, calculate the information and fill in the summary. Requirement 2. Which projects should rank first and why? 2021 Western Star 4700SB 6x4 T/A Dump Truck Item Number 5606401 Location Quaker City, Ohio, United States. 43773 Auction Date Dec 6, time TBD ITEM DETAILS Mileage 23,573 Miles VIN 5KKHAXDV2MPMK9019 Detroit DD 13 6 Cylinder 12.8L Diesel 525 hp Engine, US $89,000 Cost of Capital 7% (nfw equipment rate) Hurdle Rate 7% Cash Flow 513,700 Depreciation # A year SL, Salvage \$2,000 Peterbilt 348 4,000 gal 6x4 Water Truck Item Number 5702336 Location Humble, Texas, United States. 77396 Auction Date Dec 6, time TBD Mileage 21,461 Miles VIN 2NP3LJ0X6KM614721 USS75,000 Depreciation total 50,000 miles, 4,000 annual miles Salvage $5,000 Cash Flow $14,000 per year Cost of Capital 7\% Hurdle rate 7% 10 year life 2016 Cat 966M Wheel Loader Item Number 5721824 Location Hope Mills, North Carolina, United States. 28348 Auction Date Dec 6, time TBD US $81,000 Salvage \$1,000 Meter Reading 4,825 Hours Serial # CAT0966MCR8D00203 Enclosed Cab, Air Conditioner, Air Ride Seat, Joystick Steering, Auxiliary Hydraulic Plumbing, Life of asset: 10 year Cash Flow $12,200 Cost of Capital 7\% Hurdle rate 7% 2005 Cat D8T Crawler Dozer Item Number 5752023 Location Stringtown, Oklahoma, United States. 74569 Auction Date Dec 6, time TBD US $84,000 Meter Reading 26,109 Hours Serial # KPZ00698 Cost of Capital 10% (due to age of equipment) Hurdle rate 10% Cash Flow 910,500 per year for 10 years Depreciation 40,000 hours, Salvage $4,000, annual hours 4,000 Company cannot use financing sources available under its cost of capital average with local banks and lendin companies on this age of equipment. Therefore the cost of capital is higher. 2
The 2021 Western Star 4700SB 6x4 T/A Dump Truck should be added to the yard as it is the most profitable.Requirement 1: Capital Analysis on all 4 pieces of equipment 2021
Western Star 4700SB 6x4 T/A Dump Truck:Depreciation per year: $89,000 - $2,000 / 10 years = $8,700 per year
Cash inflows = $513,700
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $513,700 / $89,000 = 5.77
Peterbilt 348 4,000 gal 6x4 Water Truck:
Depreciation per year = $75,000 - $5,000 / 10 years = $7,000 per year
Cash inflows = $14,000
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $14,000 / $75,000 = 0.19
2016 Cat 966M Wheel Loader:
Depreciation per year = ($81,000 - $1,000) / 10 years = $8,000 per year
Cash inflows = $12,200
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $12,200 / $81,000 = 0.15
2005 Cat D8T Crawler Dozer:
Depreciation per year = ($84,000 - $4,000) / 10 years = $8,000 per year
Cash inflows = $910,500
Profitability Index = Present Value of Cash Inflows / Initial Investment
= $910,500 / $84,000 = 10.85
Requirement 2:
Based on the profitability index calculation, the 2021 Western Star 4700SB 6x4 T/A Dump Truck should rank first as it has the highest profitability index, which indicates it is the most profitable. The Peterbilt 348 4,000 gal 6x4 Water Truck and 2016 Cat 966M Wheel Loader have a negative profitability index, which means they are not profitable investments. The 2005 Cat D8T Crawler Dozer has the second-highest profitability index, but due to its high cost of capital and the fact that the company cannot use financing sources available under its cost of capital average with local banks and lending companies on this age of equipment, it is not the most profitable investment.
Therefore, the 2021 Western Star 4700SB 6x4 T/A Dump Truck should be added to the yard as it is the most profitable.
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Marketing manager want to show Customer lifetime value to define how much money to invest in digital marketing to gain a new customer and how much a customer worth to the business.
Marketing and Financial departments set the following data:
Expected total revenue from website is $3,000,000 during the first year and then will drop by 30% each consecutive year
Cost is 70% of the revenue
They incur additional marketing cost of 120,000 and 5,000 and 5,000 for the three consecutive years.
Customer Acquisition Digital marketing costs on the paid search is $120,000 per month for total of $240,000 for first year. In Years 2 and 3, we don’t have a digital marketing acquisition cost.
Expect to acquire 10,000 customers in year 1
Customer Retention Rate is 100%, 25%, 70% among the three consecutive years.
A discount rate of 8% annually (a combination of interest rate and business risk) used to calculate Net Present Value
, cumulative NPV profit over three years, and finally customer lifetime value on the bottom line.
Calculate:
Customer lifetime value per year
Cumulative Customer lifetime value over 3 years
When (which year) is the Payback on customer acquisition costs is delivered
Analyze and give your recommendations
Assume Average Orders per Year = 1.2, 2.5, 2.5 for the three consecutive years. Determine the customer average Order Size per year.
Customer Lifetime Value (CLV) represents the net profit or revenue that a business makes from its entire relationship with an average customer. CLV is a critical marketing metric that enables companies to understand the value that they derive from their customers. To determine customer lifetime value (CLV), follow these steps:
Customer Lifetime Value (CLV) per year is: CLV = NPV of revenue from customer - Cost of acquiring and serving that customer. Average Customer Revenue: $3,000,000 * 70% = $2,100,000 in the first year
Average Orders per Year = 1.2, 2.5, 2.5 for the three consecutive years
Average Order Size per year = $2,100,000 / (10,000 * 1.2) = $175 per year for the first year
CLV = ($175 * 3.7) / (0.08 - 0.25) = $3,250
Cumulative CLV over three years = 3,250*10,000 = $32,500,000
Payback on Customer Acquisition costs is delivered in year
2.Recommendations:Looking at the calculations and the numbers, the marketing manager can determine the company's approximate profit from a customer and decide whether investing in the customer is worthwhile. It is clear from the above calculation that it costs more to acquire new customers than it does to retain them. Retaining customers is beneficial because it generates more revenue, and those customers are more likely to spread the word about your business to others.
Therefore, the marketing manager should increase retention efforts and focus on customer loyalty programs to retain customers. Additionally, the company should explore other low-cost acquisition channels, such as organic traffic, to minimize acquisition costs.
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Refer to Figure 9-3. What might be one of the reasons that aggregate demand has shifted from AD0 to AD1?
Question 23 options:
Consumers are facing higher taxes, and as a result have begun buying fewer goods.
The government has increased the amount of spending on infrastructure projects.
Consumers' belief in the economy has increased, and as a result they have begun buying more goods.
Investors have become more optimistic about their profit prospects and therefore output and prices are higher.
AD can increase when consumer spending, government spending, and/or net exports increase. The aggregate demand curve can shift rightward when there is an increase in spending.
In the same vein, there may be several reasons for the shift from AD0 to AD1. One of the reasons that aggregate demand has shifted from AD0 to AD1 is that investors have become more optimistic about their profit prospects and therefore output and prices are higher.
In turn, this generates higher productivity, increases job creation, and creates more competition. Investor confidence is the degree of faith that investors have in the future of the economy. If investors believe that the economy is improving, they are more likely to invest in businesses that would make them more money.
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Who has a deeper mix of products in the product lines they do
sell? Walmart or Office Max? please explain with at least 5
sentences
Between Walmart and Office Max, Walmart has a deeper mix of products in the product lines they sell. Walmart is an all-around retail store, and they have a wider variety of products.
Walmart sells groceries, electronics, clothing, furniture, automotive items, and many more items. In contrast, Office Max is an office supplies store, and they specialize in selling office supplies such as paper, pens, printers, computers, and office furniture. Walmart sells many products that are not even related to office supplies.
Walmart's product lines are quite extensive. They offer products from groceries to electronics, apparel to housewares, automotive to toys, and health and wellness to beauty.
Walmart's product mix is very diverse and caters to a wide range of customers. As Walmart is a superstore, it is the perfect choice for people who want to buy everything they need in one place.
Office Max, on the other hand, specializes in office supplies and technology. It offers a wide range of products that include office furniture, paper, technology products, and ink cartridges.
It also provides printing services, shipping and mailing, and many more. The focus is on office supplies. But when compared to Walmart's product lines, Office Max has a much more limited mix of products.
Therefore, we can conclude that Walmart has a much deeper mix of products in their product lines than Office Max.
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British government 5% perpetuities pay £5 interest each year forever. Another bond, 3.5% perpetuities, pays £3.5 a year forever.
a. What is the value of 5% perpetuities if the long-term interest rate is 9.5% ? (Round your answer to 2 decimal places.)
Perpetuity value
b. What is the value of 3.5% perpetuities? (Round your answer to 2 decimal places.)
Perpetuity value
a. Value of 5% perpetuity First, we find the perpetuity value using the formula PV
= PMT/i where PV is the present value, PMT is the payment, and i is the discount rate.
i = 9.5%PMT
= £5Using PV
= PMT/i, the value of 5% perpetuity is:PV
= PMT/i
= £5/0.095
= £52.63b. Value of 3.5% perpetuity Using the same formula, PV
= PMT/i, the value of 3.5% perpetuity is:PMT
= £3.5i = 9.5%PV
= PMT/i
= £3.5/0.095
= £36.84Therefore, the value of 5% perpetuities if the long-term interest rate is 9.5% is £52.63 and the value of 3.5% perpetuities is £36.84.
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1. In cell D4, use the SUBTOTAL function to calculate the average number of Halloween costumes sold. Format with 0 decimals.
2. In cell D5, use the SUBTOTAL function to calculate the total number of Christmas costumes sold. Format with 0 decimals.
3. Insert a slicer for the Month field. Format the slicer with 4 columns, and then resize and move the slicer so it covers range M2:R5 (set the slicer within the borders of these cells). In the slicer, select November.
Calculating the average number of Halloween costumes sold (Cell D4)
In cell D4, enter the formula:
=SUBTOTAL(101, Sales[Units Sold]) / SUBTOTAL(102, Sales[Units Sold])
The SUBTOTAL function calculates the average using the AVERAGE function (code 101) on the range specified (Sales[Units Sold]).
Format cell D4 to display 0 decimal places.
Calculating the total number of Christmas costumes sold (Cell D5)
In cell D5, enter the formula:
=SUBTOTAL(109, Sales[Units Sold])
The SUBTOTAL function calculates the sum using the SUM function (code 109) on the range specified (Sales[Units Sold]).
Format cell D5 to display 0 decimal places.
Inserting a slicer for the Month field and selecting November
Click on any cell within the Sales table.
Go to the "Insert" tab on the Excel ribbon.
Click on "Slicer" in the "Filters" group.
In the "Insert Slicers" window, select the "Month" field and click "OK".
Format the slicer by right-clicking on it and selecting "Size and Properties" from the menu.
In the dialog box, set the "Number of columns" to 4 and click "OK".
Resize and move the slicer so it covers the range M2:R5 (drag the edges and corners).
Ensure the slicer is within the borders of these cells.
In the slicer, select the "November" option to filter the table and show only the rows where the month is November.
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a. Compare and contrast the Principle Based Accounting Standards to Rules Based Accounting Standards (10 marks) b. Various Stakeholders who receive accounting information differ in their informational needs. Discuss Six of these, citing their areas of interest.
a. Compare and contrast the Principle Based Accounting Standards to Rules Based Accounting Standards.Accounting standards can be divided into two categories: principle-based accounting and rule-based accounting.
The standards that are set up to direct accounting professionals on how to properly report business transactions are known as accounting standards. They are either principle-based or rules-based in nature. The following are the differences between the two types of standards:Rules-Based Accounting Standards: In rule-based accounting, transactions are controlled by detailed rules. These rules are inflexible, which means that each transaction must be handled in accordance with these rules, which means that there is no room for judgement.
Employees are interested in knowing whether a company is making a profit and whether they will be able to keep their jobs.Customers: Customers are interested in knowing whether a company is profitable and whether the prices of goods and services are likely to rise.Suppliers: Suppliers are interested in knowing whether a company is able to pay its debts and whether there are any possible risks that could jeopardize the long-term relationship between the supplier and the organization.
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Chandler Sporting Goods produces baseball and football equipment and lines of clothing. This year the company had cash and marketable securities worth $3.3 million, accounts payables worth $11 million, inventory of $16 million, accounts receivables of $15 million, short-term notes payable worth $3.5 million, other current assets of $1.2 million, and no other current liabilities. What is the company's net working capital?
$37 million
$25 million
$21 million
$17 million
Net Working Capital can be defined as the difference between current assets and current liabilities. It shows how much money a company has in its business to run its daily operations. The company's net working capital is $21 million. Hence, the correct option is option C.
In the given problem, the Chandler Sporting Goods company had:Cash and Marketable Securities = $3.3 million,Accounts Payables = $11 million,Inventory = $16 million,Accounts Receivables = $15 million,Short-Term Notes Payable = $3.5 million,Other Current Assets = $1.2 million,No other current liabilities.
Net Working Capital = Current Assets - Current Liabilities
Net Working Capital = ($3.3 million + $15 million + $16 million + $1.2 million) - ($11 million + $3.5 million)
Net Working Capital = $35.5 million - $14.5 million
Net Working Capital = $21 million
Therefore, the company's net working capital is $21 million.
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Which of the following statements best represents agreements between Federalists and Anti-Federalists?
"We want a form of government that will protect the rights of all its subjects."
"We want a form of government that will exist primarily in the states."
"We want a form of government that provides a bill of rights that its citizens possess."
"We want a form of government that can best respond to local and regional needs."
The statement that best represents agreements between Federalists and Anti-Federalists is: "We want a form of government that provides a bill of rights that its citizens possess."
Both Federalists and Anti-Federalists recognized the importance of protecting individual rights and liberties. However, there were disagreements regarding the specific structure and powers of the government. The inclusion of a bill of rights, which guarantees certain fundamental rights to citizens, was a common concern shared by both groups. The Anti-Federalists, in particular, expressed concerns that the proposed Constitution lacked explicit protections for individual liberties, leading to the eventual inclusion of the Bill of Rights as the first ten amendments to the United States Constitution.
The Anti-Federalists were a group of American political leaders who opposed the ratification of the United States Constitution in 1787. They were characterized by their belief in strong state governments and a weak central government.
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8. The can can be used to estimate the cost of equity, on the assumption that the market value of shares is directly related to the expected future dividends on the shares. (a) Beta factor (b) Dividend growth rate (c) Dividend growth model (d) Capital asset pricing model
The method that can be used to estimate the cost of equity, under the assumption that the market value of shares is directly related to the expected future dividends on the shares is the dividend growth model. The dividend growth model is used to estimate the intrinsic value of a share of stock, where the price of a share is determined by its expected future dividends.
The formula is as follows:
Price of share of stock = Dividend for next year / (Cost of equity - Dividend growth rate)
The cost of equity refers to the required return for a company’s shareholders. The dividend growth rate is the rate at which a company is expected to grow its dividends in the future. When using the dividend growth model, the expected future dividends are discounted back to the present value using the required return or cost of equity.
Accordingly, option (c) "Dividend growth model" is the correct option.
The method that can be used to estimate the cost of equity, under the assumption that the market value of shares is directly related to the expected future dividends on the shares is the dividend growth model.
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About the trend of flexibility in workforce, What is your "Aha" moment? In other words, what attracted you the most to this trend or what is the most important thing you have learned from the trend?
As an AI language model, I don't have an "Aha" moment or personal experience, but I can provide you with some insights on the trend of flexibility in the workforce.
The trend of flexibility in the workforce refers to a shift in the traditional work structure towards more flexible arrangements.
The trend encompasses several aspects, including remote work, freelance or contract-based work, job-sharing, flexible hours, and part-time work.
There are several reasons why this trend has gained momentum in recent years.
One of the most significant reasons is the advancement of technology, which has made it possible for people to work from anywhere at any time, as long as they have an internet connection.
Another factor is the desire for work-life balance, as people seek more control over their work schedules and personal lives.
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Which of the following accounts is not normally part of the revenue and collection cycle?
a. Sales.
b. Accounts Receivable.
c. Cash.
d. Purchases Returns and Allowances.
The account that is not normally part of the revenue and collection cycle is Purchases Returns and Allowances. There are several accounts associated with revenue and collection cycle.
The revenue and collection cycle is the series of activities that starts with a sale and ends with the collection of cash.There are three primary types of transactions associated with the revenue and collection cycle. These include:1. Sales2. Accounts Receivable3. Cash Sales: This is the revenue generated from the sale of goods or services to customers.
This account records the sale of goods or services to customers.Accounts Receivable: This account records the amount of money owed by customers to the company for goods or services that have been sold.Cash: This account records the amount of cash received from customers for goods or services that have been sold. Purchases Returns and Allowances are a component of the purchases and disbursements cycle.
Purchases Returns and Allowances is an account that tracks the goods returned to the supplier and the allowances for damaged goods. Therefore, option d) Purchases Returns and Allowances is not normally part of the revenue and collection cycle.
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Problem 6-3A Alternative cost flows - periodic LO8 CHECK FIGURES: Cost of goods sold: a. $57,000.00; b. $58,160.90 Use the data from Problem 6-2A and do Part 1, assuming Stilton Company uses a periodic inventory costing system. Round calculations to two decimal places.
1. The cost of goods sold using the periodic inventory system is $57,051.
2. The value of the ending inventory is $18,509.
In order to compute the cost of goods sold using the periodic inventory system, the cost of merchandise available for sale is divided by the number of items available for sale to get the average cost per unit. The number of items sold is then multiplied by the average cost per unit to determine the cost of merchandise sold.
Calculation of cost of merchandise sold:
- Average cost per unit = Cost of merchandise available for sale / Number of units available for sale = $75,560 / 5,500 = $13.74
- Cost of merchandise sold = Number of units sold × Average cost per unit = 4,150 units × $13.74 per unit = $57,051
The cost of goods sold is $57,051, which can be compared to the answer in Problem 6-2A, Part 2, which was $57,000.00.
To determine the value of the ending inventory, the cost of merchandise available for sale minus the cost of merchandise sold must be calculated:
- Value of ending inventory = Cost of merchandise available for sale - Cost of merchandise sold = $75,560 - $57,051 = $18,509
This ending inventory value can be compared to the answer in Problem 6-2A, Part 2, which was $18,360.90. Both answers should match if calculated correctly.
Check figures:
- Cost of goods sold: a. $57,000.00; b. $58,160.90.
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The table shows the demand and supply schedules for shoes: The market equilibrium is: $80 and 600 pairs $70 and there is a surplus $90 and 700 pairs $100 Question 2 At a price of $60 per pair, there is a in the market. comparative advantage there is not enough information provided surplus shortage From the previous question, describe how the market equilibrium is restored. What happens to the price of a of a pair of shoes? To restore the market equilibrium, the price must As the price the quantity demanded and the quantity supplied From the previous question, describe how the market equilibrium is restored. What happens to To restore the market equilibrium, the price must As the price the quantity demanded The following questions are on the market for bacon. arket equilibrium is restored. What happens to the price of a of a ֻair of shoes? As the price and the quantity supplied [Select] From the previous question, describe how the market equilibrium is restored. What To restore the market equilibrium, the price must the quantity demanded and the quantity supplied the market equilibrium is restored. What happens to the price of a of a pair of shoes? As the price and the quantity supplied
The table below shows the demand and supply schedules for shoes:Price Quantity Demanded Quantity Supplied[tex]$70 500 900 $80 600 600 $90 700 400 $100 800 200[/tex] Market Equilibrium Price:[tex]$80,[/tex] Market Equilibrium Quantity: 600 pairs At a price of [tex]$60[/tex] per pair, there is a shortage in the market.
The quantity demanded is greater than the quantity supplied. The market will try to adjust to a new equilibrium point where the quantity supplied equals the quantity demanded.To restore the market equilibrium, the price must increase. As the price increases, the quantity demanded decreases, and the quantity supplied increases.
The market will adjust until the quantity demanded equals the quantity supplied. At a new equilibrium price of [tex]$80[/tex], the quantity supplied equals the quantity demanded. At this point, the market is in equilibrium.The price of a pair of shoes will increase to [tex]$80[/tex] in order to restore the market equilibrium.
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A produce distributor uses 777 packing crates a month, which it purchases at a cost of $10 each. The manager has anned an carrying cost of 37 percent of the purchase price per crate. Ordering costs are $25. Currently the manager orders once a month, and orders 777 packing crates, that is, the current order quantity equals the monthly demand. How much could the firm save annually in ordering and carrying costs by using the EOQ? (Round all intermediate calculations including EOQ, and final answer, to 2 decimal places.) Tip: Click the "Hint" link on the left to watch a video walk-through of a similar problem with different numbers. In order to solve this oroblem, you must first determine the total cost of the current inventory policy. Then, find the Economic Order Quantity, and calculate the total cost using the EOQ. Finally, calculate the savings from using the EOQ as an order quantity.
The produce distributor could save $276.25 annually in ordering and carrying costs by using the EOQ.
Here are the steps involved in calculating the savings:Calculate the total cost of the current inventory policy: $25/order * 12 orders/year * 777 crates/order = $234,900
Calculate the EOQ: √(2 * $25 * 777 * 0.37) = 719.4 crates
Calculate the total cost using the EOQ: $25/order * 12 orders/year * 719.4 crates/order = $228,085
Calculate the savings: $234,900 - $228,085 = $276.25
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Explain how the ratings process for municipalities interested in securing financing and co-financing for own or co-developed renewable energy power plants with independent producers or small and embedded power producers would work, and evaluate the risks and viability of this industry structure where municipalities replace Electricity company in the developer and power purchase agreements?
The ratings process evaluates municipalities' creditworthiness and capabilities. Replacing electricity providers in agreements offers benefits but also carries risks. Proper risk assessment and strong contracts are crucial for viability.
The creditworthiness and capabilities of towns seeking finance and co-funding for renewable energy power plants are assessed as part of the ratings process. Municipalities would need to go through a thorough evaluation, taking into account things like their financial situation, ability to take on debt, governance procedures, and project management experience.
In developer and power purchase agreements, switching out electricity providers can have benefits like local control and potential cost savings. It also brings risks, though. Municipalities may lack knowledge of energy markets and project development, which could result in operational difficulties, cost overruns, and delays. Furthermore, taking on debt could put a strain on municipal finances and subject them to market swings. For this industry to remain viable, proper risk analysis, capacity building, and strong contractual agreements are essential.
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Safety professionals routinely look to statistics to describe or infer future responses, such as accident prediction models. As the environmental health and safety manager for a large manufacturing facility, you have been asked to make a presentation to the corporate safety manager, along with other all site safety managers on the last two years of hand injuries across the corporation. There are a total of 126 hand injuries with various causes. Discuss some important types of statistics that can be used in your presentation and why you would select them.
Your journal entry must be at least 200 words in length. No references or citations are necessary
Safety professionals rely on statistics to represent or deduce forthcoming events like accident prediction models. When given a task to create a presentation on hand injuries across a corporation, an environmental health and safety manager for a big manufacturing facility will select various statistics to be included in the presentation.
In the presentation, the manager would need to show statistics on the hand injuries over the last two years. The information should include the various causes of the hand injuries that occurred across the corporation and the ways of preventing such injuries.
Types of statistics that can be used in the presentationThe incidence rate of hand injuries- The incidence rate of hand injuries refers to the number of new hand injuries that have occurred during a particular period. It will be useful to know how many people got injured in the last two years and how many of them were new injuries.
The rate can also be broken down per site, department, or job titles, which will help show which areas are most vulnerable and need immediate attention.Injury severity- The severity of an injury describes the degree of harm caused. Using this statistic will help to show how severe the injuries were.
It can be presented in numbers like the number of lost days, medical treatments required, and the number of injuries that resulted in permanent disabilities or amputations. This statistic can be compared to past years or across sites to help determine trends.Frequency- Frequency is a measure of the total number of hand injuries that occurred over a particular period.
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A commercial landlord can change the locks and seize the
property of a tenant. True of false?
A commercial landlord cannot change the locks and seize the property of a tenant without following the legal eviction process.
This is because the tenants are legally entitled to occupy their leased space, according to the lease agreement they have signed with the landlord, and the landlord cannot simply force them out without following due process. The eviction process differs by state, but in general, a commercial landlord must provide written notice to the tenant, give them a chance to rectify the issue, and go through the court system to obtain an eviction order.
Only after obtaining the court order can a landlord forcibly remove a tenant from the leased space and seize the property if necessary. Moreover, a commercial landlord is not allowed to change the locks of a leased space unless the lease agreement states so, the tenant has abandoned the property, or there is an emergency that requires immediate access to the property.
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Suppose there is a single monopolist that sells widgets in a small town. The population can be divided between the east side of town and the west side of town. In the west side, the price elasticity of demand is −2. On the east side, the price elasticity of demand is −6. The marginal cost per widget is constant at $10 (cost of hooking up the internet). What price will it charge in each location?
The monopolist will charge $20 in the West and $80 in the East.
Monopolist will charge a different price on the east and west sides of town to maximize profit. For maximum profit, a monopolist uses the marginal revenue (MR) and marginal cost (MC) rule:
MR = MC.
That is, the monopolist charges the price where the marginal revenue equals the marginal cost. It implies that when the additional revenue from selling an additional unit is equal to the cost of producing it, the monopolist will stop producing. The firm will maximize profit at that level of output.
Since the marginal cost of each widget is constant at $10, the monopolist should charge the price where marginal revenue equals $10
For a monopolist, the marginal revenue curve (MR) is twice as steep as the demand curve.
Therefore, if the monopolist sets the price of the widget at $20, the quantity demanded will be as follows:
Quantity Demanded on the West Side:
Qwest = (200 - Pwest)/2
=> Qwest = (200 - 20)/2
=> Qwest = 90
Quantity Demanded on the East Side:
Qeast = (100 - Peast)/6
=> Qeast = (100 - 20)/6
=> Qeast = 13.33
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a corporation recieved its charter and began business this year the company is authorized to issue 50,000 shares of 80 par, 7 noncumulative nonparticipating preferred stock and 500,000 shares of 7 par value common stock. the following selected transactions occured during this year
Here are the journal entries to record the transactions:
The Journal EntriesApril 5
Cash 26,000
Preferred Stock 25,000
Paid-in Capital in Excess of Par Value - Preferred Stock 1,000
Issued 250 shares of preferred stock for $104 per share.
June 15
Legal Services Expense 15,000
Common Stock 7,500
Paid-in Capital in Excess of Par Value - Common Stock 7,500
Exchanged 750 shares of common stock for $15,000 in legal services.
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The Complete Question
A Corporation Received Its Charter And Began Business This Year. The Company Isauthorized To Issue 50,000 Shares Of $100 Par, 10%, Noncumulative, Nonparticipatingpreferred Stock, And 500,000 Shares Of No-Par Common Stock. The Following Selectedtransactions Occurred During This Year:Apr 5 Issued 250 Shares Of Preferred Stook For $104 Cash Per
A corporation received its charter and began business this year. The company is
authorized to issue 50,000 shares of $100 par, 10%, noncumulative, nonparticipating
preferred stock, and 500,000 shares of no-par common stock. The following selected
transactions occurred during this year:
Apr 5 Issued 250 shares of preferred stook for $104 cash per shares
June 15 Exchanged 750 shares of common stock for $15,000 in legal services incurred in the organization of the company.
Prepare journal entries to record these transactions.
According to the textbook, people are more motivated when "they are shown a truth that influences their feelings" than they are by analysis. Discuss the relevance of this statement for organizations growing and responding to change. What responsibility does a leader have to honor stakeholder concerns when "feelings" are the primary basis for the concerns
The statement that people are more motivated when "they are shown a truth that influences their feelings" than they are by analysis has relevance for organizations growing and responding to change.
This statement is true because individuals are more driven to take action when they feel emotionally connected to a particular issue or idea. In the context of an organization, this means that leaders need to focus on creating an emotional connection between their employees and the organization's mission and goals.
One way to do this is by being transparent about the organization's vision and goals. By sharing the truth of the situation, and explaining why certain changes are necessary, leaders can help employees understand the impact that they can have on the organization's success. This can help employees feel more engaged in their work, and more motivated to contribute to the organization's growth.
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Using the following information: a. The bank statement balance is $3,350. b. The cash account balance is $3,646. c. Outstanding checks amounted to $655. d. Deposits in transit are $794. e. The bank service charge is $148. f. A check for $74 for supplies was recorded as $65 in the ledger. Prepare a bank reconciliation for Miller Co. for August 31. Miller Co. Bank Reconciliation August 31 Cash balance according to bank statement Adjustments: Total adjustments Adjusted balance Cash balance according to company's records Adjustments: Total adjustments Adjusted balance
The bank statement balance is $3,350. Next, we need to consider the adjustments. There are two adjustments we need to make: outstanding checks and deposits in transit.
Outstanding checks are checks that have been issued by the company but have not yet cleared the bank. According to the information given, the outstanding checks amount to $655. Deposits in transit are deposits that have been made by the company but have not yet been recorded by the bank. According to the information given, the deposits in transit amount to $794.
Adjusted balance = Cash balance
according to bank statement - Outstanding checks + Deposits in transit Adjusted balance = $3,350 - $655 + $794.
\Now, let's move on to the cash balance according to the company's records. According to the information given, the cash account balance is $3,646.
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the local real estate lender offers a new loan of $250,000, with only 1/2 point as an origination fee and 1.5 discount points. your client wants to know what this means in real dollars. your answer is
The loan of $250,000, the origination fee is $1,250 and the discount points total $3,750.
To determine the real dollar amount of the origination fee and discount points, we need to understand how they are calculated.
Origination Fee: An origination fee is typically expressed as a percentage of the loan amount. In this case, the origination fee is 1/2 point. A point is equal to 1% of the loan amount.
Calculation:
Origination Fee = (1/2 point) x $250,000
Origination Fee = (1/2) x 0.01 x $250,000
Origination Fee = 0.005 x $250,000
Origination Fee = $1,250
Therefore, the origination fee in real dollars is $1,250.
Discount Points: Discount points are another type of fee charged by lenders, and they are also expressed as a percentage of the loan amount. In this case, the discount points amount to 1.5 points.
Calculation:
Discount Points = 1.5 points x $250,000
Discount Points = 1.5 x 0.01 x $250,000
Discount Points = 0.015 x $250,000
Discount Points = $3,750
So, the discount points in real dollars amount to $3,750.
Therefore, for the loan of $250,000, the origination fee is $1,250 and the discount points total $3,750.
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As UK heats up, Conservative PM candidates cool on climate ambition: it’s up to businesses to take the lead again As the UK braces for the hottest day on record, we have been watching with bated breath as our potential new Prime Ministers have clashed on key policies. Whilst they seem more concerned with cutting taxes, many have been asking what a change in leadership will mean for the UK’s climate policy. Sunday night’s televised leadership debate offered limited reassurance: whilst all the candidates appeared to commit to maintaining our current Net-Zero targets (with various caveats), it was very apparent that none of them are willing to increase that ambition, or even set out clearer strategies on how we will get there. At a time where, in the wake of COP26, the UK has an opportunity to lead the world in tackling the impending climate disaster, we look set to stall on key policies.In the face of political uncertainty, private sector action can offer hope. Over the past decade, we have regularly seen businesses stepping up to fill gaps in government policies, such as by committing to Science-Based Targets and responding to the requirements of the Taskforce on Climate-Related Disclosures (TCFD) ahead of government legislation requiring them to do so. Investors, consumers and employees are all demanding ever more ambitious, rigorous, and transparent measures from companies. As government ambition falters, we will once again be looking to the private sector to keep the momentum going and to achieve the necessary reductions to limit the impact of climate change. QUESTIONS 3.1 Based on the case study above discuss what is responsible corporates and explain briefly THREE (3) benefits derive from being responsible corporates. [8 marks].3.2 From the case study, Identify and explain the major challenge faced by broader society and business in the context of corporate citizenship. [4 marks].3.3 Make a list of THREE (3) organisational stakeholders mentioned in the case study. [3 marks].
3.1 Being a responsible corporate entity can help companies establish themselves as leaders in their respective fields, obtain a better understanding of their market dynamics, and help them draw new and existing clients.
Being a responsible corporate can also assist companies in enhancing their reputations and gaining the admiration of their customers.
3.2 In the context of corporate citizenship, the main challenge for both broader society and business is balancing the desire for economic success with the need to maintain social and environmental responsibility. This challenge stems from the belief that companies must generate financial returns for their investors while simultaneously fulfilling their broader civic obligations.
Balancing these often-competing goals can be difficult for companies, especially in the face of political and economic uncertainty. Corporate citizenship entails understanding that corporations have a greater responsibility to society than merely generating income. As a result, corporate citizenship demands that companies seek to establish long-term, mutually beneficial relationships with their stakeholders, including clients, investors, workers, suppliers, and the broader society.
3.3 Based on the case study, the three organizational stakeholders mentioned are investors, employees, and consumers. Investors are mentioned as being a driving force behind corporate social responsibility, pressuring companies to be more transparent and environmentally responsible.
Employees are seen as key stakeholders in corporate social responsibility, with their welfare and development playing a key role in corporate citizenship. Finally, consumers are seen as a crucial element in corporate social responsibility, demanding ever-more ambitious and rigorous measures from companies.
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