= 41,000 USD * 1+(2.5%-1.9%)
= 41,000 USD * 1.60
= 65,600
Net change 65,600 - 41,000 = $24,600
INCREASE IN HIS PURCHASING POWER!!!
OR 60% MORE IN HIS POCKET CHA-CHING!!Good luck!
#JmackTheInstructor
Net change in purchasing power next year is $24,600
Given:
Increase pay per year = 2.5% per year
Current salary = $41,000
Predicted inflation = 1.9%
Find:
Net change in purchasing power next year
Computation:
Value of money next year = 41,000[1+(2.5%-1.9%)]
Value of money next year = 41,000[1.60%]
Value of money next year = 65,600
Net change in purchasing power next year = 65,600 - 41,000
Net change in purchasing power next year = $24,600
Learn more:
https://brainly.com/question/23413478?referrer=searchResults
Do I look like Dababy be honest
Answer:
No
Explanation:
he does not have a head that looks like a dam football and just NOOOO
Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all of the toppings stored in one section of the warehouse. The company must provide its insurance company with an estimate of the amount of inventory lost. The following information is available from the company's accounting records:
Fruit Toppings Marshmallow Toppings Chocolate Toppings
Inventory, January 1, 2013 $22,000 $7,200 $3,200
Net purchases through Nov. 17 160,000 38,000 12,200
Net sales through Nov. 17 210,000 57,000 20,200
Historical gross profit ratio 20% 30% 30%
Required:
Calculate the estimated cost of each of the toppings lost in the fire.
Answer:
Estimated cost of Fruit Toppings lost in the fire = $14,000
Estimated cost of Marshmallow Toppings lost in the fire = $5,300
Estimated cost of Chocolate Toppings lost in the fire = $1,260
Explanation:
Fruit Marshmallow Chocolate
Toppings Toppings Toppings
Inventory, January 1, 2013 [a] 22,000 7,200 3,200
Net purchases through Nov. 17 [b] 160,000 38,000 12,200
Net sales through Nov. 17 [c] 210,000 57,000 20,200
Historical gross profit ratio [d] 20 30 30
Gross Profit [c*d%] [e] 42000 17,100 6,060
Cost of Good Sold [c-e] [f] 168,000 39,900 14,140
Inventory, Nov 17, 2013 [a+b-f] [g] 14,000 5,300 1,260
The focus groupis meeting on Tuesday.The policy is too old; itneeds to be revised.The management teamwants to hire new warehouse workers.If the customerbuys four or more items from the catalog, offer a price reduction.We should bothfeel comfortable with the final decision.The corporate directorsrecommends a full investigation.The board of directorshas approved the current ethics policy.The regional manager and the district supervisormakes all purchasing decisions.The writer of a well-designed e-mail messageuse correct grammar and spelling.The initial proposals the team submitted how hard they have worked.
Answer:
The verbs in these sentences are:
1. is
2. needs
3. wants
4. buys
5. feel
6. recommend
7. has
8. makes
9. uses
10. shows
Explanation:
Verb is a word in a sentence which describes an action of a person. It is the word which gives understanding about the task performance in a sentence. The verb can be single or multiple in a single sentence. The choice of verb is dependent on the noun. There are 4 forms of verb which are used in a sentence.
Steve has been given the charge of managing unskilled labor in the production units of his company. These workers are primarily motivated by financial incentives and other perks such as discount coupons and free movie or lunch days. In this scenario, which of the following power bases should Steve primarily use to influence the workers to improve their productivity?
a. Referent power
b. Expert power
c. Reward power
d. Information power
Answer:
c. Reward power
Explanation:
Reward power is the power to influence employees or to impress employees by giving them some reward for doing certain things. The reward is clear and vague . so correct option is c. Reward powerKristin Company sells 300 units of its products for $20 each to Logan Inc. for cash. Kristin allows Logan to return any unused product within 30 days and receive a full refund. The cost of each product is $12. To determine the transaction price, Kristin decides that the approach that is most predictive of the amount of consideration to which it will be entitled is the probability-weighted amount. Using the probability-weighted amount, Kristin estimates that (1) 10 products will be returned and (2) the returned products are expected to be resold at a profit. Indicate the amount of (a) net sales, (b) estimated liability for refunds, and (c) cost of goods sold that Kristen should report in its financial statements (assume that none of the products have been returned at the financial statement date).
Answer:
a. Net Sales = (300 units - 10 units return) * $20 each
Net Sales = 290 units * $20 each
Net Sales = $5,800
b. Liability for refunds = (10 units expected to be returned * $20 each)
Liability for refunds = $200
c. Cost of Goods Sold = (300 units - 10 return) * $12 per unit
Cost of Goods Sold = 290 units * $12 per unit
Cost of Goods Sold = $3,480
According to the circular-flow diagram GDP
Sheila Williams, a medical secretary, earns $2,437 monthly for a 34-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amounts:
a. The regular semimonthly earnings
b. The overtime earnings
c. The total earnings
Answer:
a. The regular semimonthly earnings
regular semimonthly earnings = [34 hours + 34 hours + (10 hours - 2 hours)] x [$2,437 / (34 hours x 4)] = 76 hours x $17.92/hr = $1,361.85
b. The overtime earnings
overtime earnings = 2 hours x [$2,437 / (34 hours x 4)] x 1.5 = $53.76
c. The total earnings
total earnings = $1,361.85 (regular earnings) + $53.76 (overtime earnings) = $1,415.61
Bruno's is analyzing two machines to determine which one it should purchase. The company requires a rate of return of 14.6 percent and uses straight-line depreciation to a zero book value over a machine's life. Ignore bonus depreciation and taxes. Machine A has a cost of $318,000, annual operating costs of $8,700, and a life of 3 years. Machine B costs $247,000, has annual operating costs of $9,300, and a life of 2 years. Whichever machine is purchased will be replaced at the end of its useful life. Which machine should Bruno's purchase and why
Answer:
Machine A; because it will save the company about $13,406 a year
Explanation:
The computation is shown below:
Equate Annual Cost = PV of Cash Outflow ÷ PVAF (r%, n)
For Machine A:
Year CF PVF at 14.6% Disc CF
0 $3,18,000.00 1.0000 $3,18,000.00
1 $ 8,700.00 0.8726 $7,591.62
2 $8,700.00 0.7614 $6,624.45
3 $ 8,700.00 0.6644 $ 5,780.50
PV of Cash Outflow $3,37,996.58
PVAF(14.6%,3) 2.2985
PV of Cash Outflow $1,47,053.69
For Machine B:
Year CF PVF at 14.6% Disc CF
0 $2,47,000.00 1.0000 $2,47,000.00
1 $9,300.00 0.8726 $8,115.18
2 $9,300.00 0.7614 $7,081.31
PV of Cash Outflow $2,62,196.49
PVAF(14.6%,2) 1.6340
PV of Cash Outflow $1,60,459.86
So the machine cost would be purchased as it lower the cost by $13,406.17
Brad Carlton operates Carlton Collectibles, a rare-coin shop in Washington, D.C., that ships coins to collectors in all 50 states. Carlton also provides appraisal services upon request. During the last several years, the appraisal work has been done either in the D.C. shop or at the homes of private collectors in Maryland and Virginia. Determine the jurisdictions in which Carlton Collectibles has sales and use tax nexus.
Answer: He would have sales based on his appraisal and would use tax collection based on he has commercial domicile there
Explanation:
Carlton would have sales based on the appraisal his work receives in Virginia and Maryland. Appraisals go a long way to promote sales in business especially comes from clients who tend to give feedback based on the product they have used. He would use tax collection in the district of Columbia due to he has a commercial domicile in that area.
4) (Economies of Scale) Suppose a firm has chosen its quantity so that its marginal cost is equal to the market price, and is making positive profits because its revenues exceed its costs. Is this firm operating in a range where it production exhibits economies of scale or diseconomies of scale
Answer:
The firm is operating in a product range that exhibits diseconomies of scale. A further explanation is given below.
Explanation:
The company operates within a target area where there have been efficiency gains throughout production. Since the company makes benefits and opportunities, which means that the profitability outweighs the amount, the price could perhaps outweigh the estimated price at either the amount of development. As well as the valuation is equivalent to the cost, and marginal cost should therefore significantly increase the overall value.Researchers understand exactly this because when market forces are already in place, marginal cost is already below the estimated price, such that, marginal cost would be below the estimated price. After all, once government subsidies have been in place because when efficiency gains are in place, marginal cost should be above total value, which indicates that sometimes marginal cost exceeds average cost whenever economies of level have been in place.Here is the ledger for Blossom Company.
Cash
Oct. 1 8,660 Oct. 4 2,060
Oct. 10 2,640 Oct. 12 3,160
Oct. 10 9,660 Oct. 15 360
Oct. 20 810 Oct. 30 410
Oct. 25 3,660 Oct. 31 610
Accounts Receivable
Oct. 6 910 Oct. 20 810
Oct. 20 1,030
Supplies
Oct. 4 2,060 Oct. 31 1,840
Equipment
Oct. 3 4,660
Notes Payable
Oct. 10 9,660
Accounts Payable
Oct. 12 3,160 Oct. 3 4,660
Common Stock
Oct. 1 8,660
Oct. 25 3,660
Dividends
Oct. 30 410
Service Revenue
Oct. 6 910
Oct. 10 2,640
Oct. 20 1,030
Salaries and Wages Expense
Oct. 31 610
Supplies Expense
Oct. 31 1,840
Rent Expense
Oct. 15 360
Required:
Reproduce the journal entries for only the transactions that occurred on October 1, 10, and 20.
b.Prepare a trial balance at October 31.
Answer:
1/Oct : Cash (Dr.) $8,660
Accounts Receivable (Cr.) $8,660
10/Oct : Equipment & Supplies (Dr.) $9,660
Notes Payable (Cr.) $9,660
20/Oct : Accounts Receivable (Dr.) $2,640
Service Revenue (Cr.) $2,640
Explanation:
Debits $16,960
Cash 6,600
Accounts Receivable 1,840
Supplies 1,840
Equipment 4,660
Dividend 2,020
Credits : $16960
Accounts Payable 4,660
Notes Payable 9,660
Service Revenue 2,640
Suppose Manuel is the only seller in the market for bottled water and Hubert is the only buyer. The following lists show the value Hubert places on a bottle of water and the cost Manuel incurs to produce each bottle of water:
Hubert's Value Manuel's Costs
Value of first bottle: $10 Cost of first bottle: $1
Value of second bottle: $7 Cost of second bottle: $3
Value of third bottle: $3 Cost of third bottle: $7
Value of fourth bottle: $1 Cost of fourth bottle: $10
The following table shows their respective supply and demand schedules:
Price Quantity Demanded Quantity Supplied
$1 or less 4 0
$1 to $3 3 1
$3 to $7 2 2
$7 to $10 1 3
More than $10 0 4
Use Raphae's supply schedule and Larry's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8.
A price of____brings supply and demand into equilibrium.
At the equilibrium price, consumer surplus is_____producer surplus is_____, and total surp is_____.
If Raphael produced and Larry consumed one less bottle of water, total surplus would_____.
if instead, Raphael produced and Larry consumed one additional bottle of water, total surplus would_____.
Answer:
Manuel and Hubert
A price of__$5__brings supply and demand into equilibrium.
At the equilibrium price, consumer surplus is__$2___producer surplus is__$2___, and total surplus is__$4___.
If Manuel produced and Hubert consumed one less bottle of water, total surplus would__$6___.
if instead, Manuel produced and Hubert consumed one additional bottle of water, total surplus would_$6____.
Explanation:
a) Data and Calculations:
Hubert's Value Manuel's Costs
Value of first bottle: $10 Cost of first bottle: $1
Value of second bottle: $7 Cost of second bottle: $3
Value of third bottle: $3 Cost of third bottle: $7
Value of fourth bottle: $1 Cost of fourth bottle: $10
The following table shows their respective supply and demand schedules:
Price Quantity Quantity
Demanded Supplied
$1 or less 4 0
$1 to $3 3 1
$3 to $7 2 2
$7 to $10 1 3
More than $10 0 4
Using Manuel's supply schedule and Hubert's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8.
Price Quantity Quantity
Demanded Supplied
$2 3 1
$5 2 2
$8 1 3
At the equilibrium price:
Consumer Surplus = $7 - $5 = $2
Producer Surplus = $5 - $3 = $2
Total surplus is $2 * 2 = $4
Match the vocabulary word with the correct definition
system for gathering and organizing marketing
information used in decision-making
specific actions which advance the strategy and achieve
an end result
specific, measureable, short-term expectations
objectives
goals
broad, long-term expectations for future achievements
structured research which uses the scientific method and
standardized questions to make generalizations and
predictions, includes questionnaires, surveys and
experiments
statements describing the overall approach to how goals
and objectives will be achieved
:: marketing information system
:: quantitative research
:: strategies
:: tactics
Answer:
e 552gbrbrnrbthrjhhbbb vt to o
Help please! Business questions
Answer:
1. National FFA.
2. DECA.
3. BPA
4. FEA (Educators Rising).
Explanation:
A career and technical student organization (CTSO) is an extracurricular group for students in CTE pathways to further their knowledge and skills by participating in activities, events, and competitions. The nine national CTSOs in the United States of America are;
National Future Farmers of America (National FFA). Distributive Education Clubs of America (DECA). Business Professionals of America (BPA). Health Occupations Students of America (HOSA) Family, Career, and Community Leaders of America (FCCLA). Future Business Leaders of America-Phi Beta LAMBDA (FBLA-PBLA). Technology Student Association (TSA). SkillsUSA. Future Educators of America (FEA).1. Marilyn is a middle-school student who wants to prepare for a career in farming: Therefore, Marilyn should join the National Future Farmers of America (FFA) organization.
2. Janice is a high-school student who wants to start her own business: she should join the Distributive Education Clubs of America (DECA) because they prepare students for business management and administration.
3. Abe is a high-school student who wants to become an information technology worker: Thus, Abe should join the Business Professionals of America (BPA) because they train students on citizenship and leadership in career clusters such as information technology.
4. Rene wants to teach middle-school classes: Therefore, Rene should join the Future Educators of America (FEA) because they prepare students who are interested in teaching.
Answer:
1) National FFA!
2) DECA!
3) BPA!
4) FEA!
Explanation:
Which of the statements is the best description of a business cycle? the relationship between the returns on Treasury securities and the time to maturity the time it takes a firm to convert raw materials into a final good or service alternating periods of increasing and decreasing economic output a calendar year divided into four quarters, each containing three months
Answer:
alternating periods of increasing and decreasing economic output
Explanation:
The business cycle represent the boom and recession period. At the time of boom, the company earned huge profits while at the time of recession period this situation would be reverse that leads to rise and reduction in the economic output
Therefore according to the options given, the last second option is correct as it denotes the business cycle
On January 1, 2017, Ayayai Company purchased 8% bonds having a maturity value of $200,000, for $216,849.76. The bonds provide the bondholders with a 6% yield. They are dated January 1, 2017, and mature January 1, 2022, with interest receivable January 1 of each year. Ayayai Company uses the effective-interest method to allocate unamortized discount or premium. The bonds are classified in the held-to-maturity category.On January 1, 2017, Ayayai Company purchasedOn January 1, 2017, Ayayai Company purchased Prepare the journal entry at the date of the bond purchase. (Enter answers to 2 decimal places, e.g. 2,525.25. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)
Answer:
1. 1/01/2017
Dr Bonds receivable 200,000
Dr Premium on bonds receivable 16,849.76
(216,849.76-200,000)
Cr Cash 216,849.76
2. Carrying amount of bonds
1/01/2017 216,849.76
1/01/2018 213,859.76
1/01/2019 210,691.35
1/01/2020 207,332.83
1/01/2021 203,772.8
1/01/2022 200,000
3. 31/12/2017
Dr Interest receivable 16,000
Cr Interest revenue 13,010
Cr Premium on bonds receivable 2,990
Explanation:
1. Preparation of the journal entry at the date of the bond purchase.
1/01/2017
Dr Bonds receivable 200,000
Dr Premium on bonds receivable 16,849.76
(216,849.76-200,000)
Cr Cash 216,849.76
2. Preparation of a bond amortization schedule.
Date Cash received Interest revenue Premium amortized Carrying amount of bonds
1/01/2017 216,849.76
1/01/2018 16,000 13,010 2,990 213,859.76
1/01/2019 16,000 12,831.59 3,168.41 210,691.35
1/01/2020 16,000 12,641.48 3,358.52 207,332.83
1/01/2021 16,000 12,439.97 3,560.03 203,772.8
1/01/2022 16,000 12,227.20 3,772.80 200,000
Workings;
1/01/2018
($200,000*8%)=16,000
($216,849.76*6%)=13,010
(16,000-13,010)=2,990
(216,849.76-2,990)=213,859.76
1/01/2019
($200,000*8%)=16,000
(213,859.76*6%)=12,831.59
(16,000-12,831.59)=3,168.41
(213,859.76-3,168.41)=210,691.35
1/01/2020
($200,000*8%)=16,000
(210,691.35*6%)=12,641.48
(16,000-12,641.48)=3,358.52
(210,691.35-3,358.52)=207,332.83
3.Preparation of the journal entry to record the interest revenue and the amortization on December 31, 2017.
31/12/2017
Dr Interest receivable 16,000
($200,000*8%)
Cr Interest revenue 13,010
($216,849.76*6%)
Cr Premium on bonds receivable 2,990
(16,000-13,010)
In the midst of closing procedures, Echo Corporation's accountant became ill and was hospitalized. You have volunteered to complete the closing of the books, and you find that all revenue and expense accounts have zero balances. The Dividends account has a debit balance of $18,750. The Retained Earnings accounts has a beginning credit balance of $134,000. Expenses totaled $325,500 and revenues totaled $364,400.
Prepare journal entries to complete the closing procedures as of year-end. To close the Dividends account.
Answer:
Revenues Dr $364,400
Income summary Cr $364,400
(Closing revenue accounts)
Income summary Dr $325,500
Expenses Cr $325,500
(Closing expense accounts)
Income summary Dr $38900
Retained earnings Cr $38900
(Transferring balance in income summary to retained earnings)
Dividends Dr $18,750
Retained earnings Cr $18,750
(Closing of dividends)
Smith Corporation has provided the following information: Cash sales totaled $135,000. Credit sales totaled $289,000. Cash collections from customers for services yet to be provided totaled $48,000. An $10,000 gain from the sale of property and equipment occurred. Interest income totaled $8,700. How much of these items were included in operating income
Answer:
$434,000
Explanation:
The total amount that should be included in the operating income as follows:
1. Cash sales $135,000
2. Credit sales $289,000
3. Gain from the sale of property and the equipment $10,000
Operating income $434,000
hence, the $434,000 should be included in the operating income
Explain two potential advantages to an airline of outsourcing inflight catering
Answer: See explanation
Explanation:
In-flight catering simply has to do with the delivery of food that have been already prepared and packaged for consumption while a particular airplane is in flight.
The two potential advantages to an airline of outsourcing inflight catering is that it helps in the reduction and of cost in the part of the airline. Outsourcing will help the airline cut costs.
Also, another reason is that the airline can focus on other aspects which are more important and work towards achieving organizational goals.
Urshela Company paid four months insurance on October 1, 2017 for $13,200. Urshela originally recorded the full insurance payment in the prepaid insurance account, Urshela operates on a calendar year basis. What adjusting journal entry would Urshela be required to make at 12/31 to properly recognize insurance expense for the year
999 trillion dollars in a year
A company is targeting its marketing by running an advertising campaign showing a Hmong family celebrating its traditions during the 4th of July holiday. The ad campaign features the company products being used by the children. What area of consumer decision influence is the marketing campaign using?
a. American culture, an ethnic subculture, and family
b. psychological aspects of belief and attitude
c. social class and word-of-mouth influence
Answer:
American culture, an ethnic subculture, and family
Explanation:
Oops! When you went in to make your deposit, the bank representative said the amount of required deposit reported in the advertisement was incorrect and should have read $22,500. This revision, which willreduce the interest rate earned on your deposited funds, will adjust your earned interest rate to
Answer: reduce; 2.67%
Explanation:
The original interest rate was:
= Annual Cashflow/ Present value
= 600 / 15,000
= 4%
The new interest rate is:
= 600 / 22,500
= 2.67%
We can see that the interest rate reduced from 4% to 2.67%.
This revision, which will reduce the interest rate earned on your deposited funds, will adjust your earned interest rate to 2.67%.
Focus groups an example of what type of research
Answer:
i think focus groups would be case studies? i'm not sure though
Explanation:
Methodology :
Types of research.
Correlational research.
Descriptive research.
Ethnographic research.
Cross-sectional studies.
Longitudinal studies.
Case studies.
Statement of stockholders' equity Financial information related to All Seasons Company for the month ended June 30, 20Y7, is as follows:_______.
Common stock, June 1, 20Y7 $30,000
Stock issued in June 20,000
Net income for June 87,500
Dividends during June 15,000
Retained earnings, June 1, 20Y7 145,000
Prepare a statement of stockholders' equity for the month ended June 30, 20Y7. If an amount is zero, enter "0"
Answer:
Stockholders' equity is $267,500.
Explanation:
Note: See the attached excel file for the statement of stockholders' equity.
The following are used to confirm the figures in the ayyached excel file:
Seasons Company
Statement of Stockholders' Equity
for the month ended June 30, 20Y7
Particular Amount ($)
Common stock (w.1) 50,000
Retained earnings (w.2) 217,500
Stockholders' equity 267,500
Workings:
w.1: Common stock June 30, 20Y7 = Common stock, June 1, 20Y7 + Stock issued in June = $30,000 + $20,000 = $50,000
w2: Retained earnings June 30, 20Y7 = Retained earnings, June 1, 20Y7 + Net income for June - Dividends during June = $145,000 + $87,500 - $15,000 = $217,500
From the list below, choose the items that are classified as a materials activity(You may select more than one answer.
1. Raw materials used
2. Raw materials beginning inventory
3. Raw materials purchases
4. Work in process beginning inventory
5. Goods manufactured
6. Direct labor used
7. Factor overhead used
Answer:
youuurrr mooomm
Explanation:
:D
Online recommendation engines typically are based on
Answer:
An online recommendation engine is a set of software algorithms that uses past user data and similar content data to make recommendations for a specific user profile. An online recommendation engine is a set of search engines that uses competitive filtering to determine what content multiple similar users might like.
Explanation:
Career choice, getting/keeping a job, career changes, career advancement skills are examples of
A. employability skills
B. diversity
C. professional image
D. transferable skills
Answer:
b
Explanation:
[The following information applies to the questions displayed below.]
Sara’s Salsa Company produces its condiments in two types: Extra Fine for restaurant customers and Family Style for home use. Salsa is prepared in department 1 and packaged in department 2. The activities, overhead costs, and drivers associated with these two manufacturing processes and the company’s production support activities follow.
Process Activity Overhead cost Driver Quantity
Department 1 Mixing $ 5,900 Machine hours 2,300
Cooking 12,500 Machine hours 2,300
Product testing 113,900 Batches 850
$ 132,300
Department 2 Machine calibration $ 320,000 Production runs 500
Labeling 19,000 Cases of output 150,000
Defects 8,000 Cases of output 150,000
$ 347,000
Support Recipe formulation $ 83,000 Focus groups 50
Heat, lights, and water 46,000 Machine hours 2,300
Materials handling 79,000 Container types 8
$ 208,000
Additional production information about its two product lines follows.
Extra Fine Family Style
Units produced 34,000 cases 116,000 cases
Batches 340 batches 510 batches
Machine hours 950 MH 1,350 MH
Focus groups 32 groups 18 groups
Container types 5 containers 3 containers
Production runs 250 runs 250 runs
Required:
1. Using a plantwide overhead rate based on cases, compute the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa.
2. Using the plantwide overhead rate, determine the total cost per case for the two products if the direct materials and direct labor cost is $10 per case of Extra Fine and $9 per case of Family Style.
3.a. If the market price of Extra Fine Salsa is $19 per case and the market price of Family Style Salsa is $13 per case, determine the gross profit per case for each product.
3.b. What might management conclude about the Family Style Salsa product line?
Answer:
1.$4.58 per cases
2. Extra Fine $14.58
Family Style $13.58
3a. Extra Fine $4.42
Family Style $0.58
3b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may inturn make the company to stop the production of the product in a situation where the cost are not reduced
Explanation:
1. Computation for the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa using Plantwide overhead rate
Using this formula
Overhead cost=Total overhead cost/Total volume
Let plug in the formula
First step is to calculate the Total overhead cost
Total overhead cost = $132,300+ $347,000+$208,000
Total overhead cost =$687,300
Second step is to calculate the Total volume
Total volume= 34,000 +116,000
Total volume=150,000 cases
Now let calculate the Overhead cost
Overhead cost=$687,300/150,000 cases
Overhead cost=$4.58 per cases (rounded)
Therefore since we are making use of plantwide rate which means that same overhead cost of the amount of $4.58per cases will be assigned to each of the two case .
2. Calculation to determine the total cost per case for the two products
Extra Fine Family Style
Direct materials + Direct Labor $ 10.00 $ 9.00
Add Overhead $4.58 $4.58
Manufacturing cost per case $ 14.58 $ 13.58
Therefore the the total cost per case for the two products will be:
Extra Fine $14.58
Family Style $13.58
3-A Calculation to determine the gross profit per case for each product.
Extra Fine Family Style
Selling price per case $ 19.00 $ 13.00
Less Manufacturing cost per case $14.58 $13.58
Gross profit (loss) per case $ 4.42 $ (0.58 )
Therefore the gross profit per case for each product will be ;
Extra Fine $4.42
Family Style $0.58
3-b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit because they are not profitable which may inturn make the company to stop the production of the product In a situation where the cost are not reduced .
The following are the typical classifications used in a balance sheet:
a. Current assets f. Current liabilities
b. Investments and funds g. Long-term liabilities
c. Property, plant, and equipment h. Paid-in-capital
d. Intangible assets i. Retained earnings
e. Other assets
Required:
For each of the following 2016 balance sheet items, use the letters above to indicate the appropriate classification category.
1. Equipment
2. Accounts payable
3. Allowance for uncollectable accounts
4. Land held for investment
5. Notes payable due in 5 years
6. Deferred rent revenue for the next 12 months
7. Notes payable due in 6 months
8. Income less dividend accumulated
9. Investment in xyz corporation
10. Inventories
11. Patents
12. Land in use
13. Accrued liabilities
14. Prepaid rent for next 9 months
15. Common stock
16. Cash
17. Building in use
18. Taxes payable
Answer:
a. Current assets
Allowance for uncollectable accounts
Inventories
Prepaid rent for next 9 months
Cash
b. Investments and funds
Investment in xyz corporation
c. Property, plant, and equipment
Equipment
Land in use
Building in use
d. Intangible assets
Patents
e. Other assets
Land held for investment
f. Current liabilities
Accounts payable
Deferred rent revenue for the next 12 months
Notes payable due in 6 months
Accrued liabilities
Taxes payable
g. Long-term liabilities
Notes payable due in 5 years
h. Paid-in-capital
Common stock
i. Retained earnings
Income less dividend accumulated
Explanation:
A Balance Sheet shows the balances of Assets, Liabilities and Equity as at the reporting date.
Assets
There are two major asset categories which are Current Assets and Non- Current Assets. Current Assets are assets not exceeding 12 months examples are Inventories and Cash. Whilst Non-Current Assets are assets exceeding a period of 12 months examples are Property, Plant and Equipment items such as Land, Investments and Intangible Assets
Liabilities
There are two major asset categories which are Current Liabilities and Non- Current Liabilities. Current Liabilities are liabilities due to be paid within a period not exceeding 12 months examples are Accrued liabilities and Accounts payable. Whilst Non-Current Liabilities are assets liabilities payable in a period exceeding 12 months examples are Notes payable due in 5 years.
Equity
We have Paid In Capital such as Common Stock and Retained Earnings comprising of Profits and dividends.
Classification of items as will be shown in the balance sheet will be done as above.
In each of the following cases, determine how supply or demand shifts and how the equilibrium changes.
Select the correct answer in each blank space (_______)
a. Smartphones: Microchips used in smartphones become less costly to produce. As a result, the __________________( *Supply of and demand for, *Supply of, or *Demand for) smartphones increase(s), causing the equilibrium price to (*Rise, *Fall, or *Rise, fall or remain unchanged) and the equilibrium quantity to (*Rise, fall or remain unchanged, *Rise, *Fall)
b. ALS medical research funds: The ALS ice bucket challenge goes viral, leading to greater awareness of the benefits of and need for ALS research. As a result, the _____________ ( *Supply of and demand for, *Supply of, or *Demand for) ALS research increase(s), causing the equilibrium price (or opportunity cost) of such research to __________ (*Rise, fall or remain unchanged, *Rise, *Fall) and the equilibrium quantity to __________ (*Rise, fall or remain unchanged, *Rise, *Fall)
Answer:
Supply of
fall
rise
b. demand for
rise
rise
Explanation:
A microchip is a complement in the production of smartphones
Complement goods are goods used together.
If the price of microchips reduces, the cost of making smartphones falls and as a result, the supply of smart phones increases. This would lead to a rightward shift of the supply curve. This leads to a decrease in equilibrium price and an increase in equilibrium quantity
Due to the awareness, the demand for ALS research would increase, this would lead to a rise in price and quantity demanded.