Answer:
The answer is below
Explanation:
The z core is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by:
[tex]z=\frac{x-\mu}{\sigma}\\\\where\ \mu=mean,\sigma=standard\ deviation[/tex], x = raw score
Given that mean (μ) = 15 minutes per car, standard deviation (σ) = 2.4 minutes.
1) For x > 18:
[tex]z=\frac{x-\mu}{\sigma} =\frac{18-15}{2.4} =1.25[/tex]
From normal distribution table, P(x > 18) = P(z > 1.25) = 1 - P(z < 1.25) = 1 - 0.8944 = 0.1056
2) For x < 10:
[tex]z=\frac{x-\mu}{\sigma} =\frac{10-15}{2.4} =-2.08[/tex]
From normal distribution table, P(x < 10) = P(z < -2.08) = 0.0188
3) For x > 12:
[tex]z=\frac{x-\mu}{\sigma} =\frac{12-15}{2.4} =-1.25[/tex]
For x < 16:
[tex]z=\frac{x-\mu}{\sigma} =\frac{16-15}{2.4} =0.42[/tex]
From normal distribution table, P(12 < x < 16) = P(z < 0.42) - P(z < -1.25) = 0.6628 - 0.1056 = 0.5572
Rossi Inc. has a materials price standard of $2.00 per pound. Six thousand pounds of materials were purchased at $2.20 a pound. The actual quantity of materials used was 6,000 pounds, although the standard quantity allowed for the output was 5,400 pounds.
Rossi, Inc.'s total materials variance is:______
Answer:
See below
Explanation:
Total materials variance is computed as
= [(AQ × AP) - (AQ × SP)]
AQ = Actual Quantity = 6,000
AP = Actual Price = $2.2
SP = Standard Price = $2
Then,
Rossi's inc. Materials price variance
= [(6,000 × $2.2) - (6,000 × $2)]
= $13,200 - $12,000
= $1,200 Unfavorable
Colorado Business Tools manufactures calculators. Costs incurred in making 9,940 calculators in February included $29,350 of fixed manufacturing overhead. The total absorption cost per calculator was $10.70.
Required:
a. Calculate the variable cost per calculator.
b. The ending inventory of pocket calculators was 750 units higher at the end of the month than at the beginning of the month. By how much and in what direction (higher or lower) would operating income for the month of February be different under variable costing than under absorption costing?
c. Express the pocket calculator cost in a cost formula.
Answer and Explanation:
The computation is shown below:
a)
Fixed manufacturing overhead per unit is
= $29,350 ÷ 9,940
= $2.95 per unit
Now
Variable cos per calculator is
= $10.70- $2.95
=$ 7.75 per calculator
b)Variable costing income will be lower by
= 750 units × $2.95
= $2,213
= Fixed cost + n × variable cost per calculator
c) The Cost formula (y) is
= $29,350 + 7.75 x
Cosmo breaks his fly rod while fly fishing in a remote area of Colorado. He goes to the local fly shop to buy a new rod, expecting to pay a considerable mark-up over the price he would pay at home in California. To his surprise, the price is exactly the same as at home. This is most likely due to
Answer:
Uniform pricing policy
Explanation:
Uniform pricing policy exists when a particular product has a uniform price across different markets and locations.
This was implemented by some businesses because of negative reactions from customers that resulted in decrease in sand in the long term.
When uniform price is used customers are confident prices will be the same anywhere.
In the given scenario Cosmos goes to the local fly shop to buy a new rod, expecting to pay a considerable mark-up over the price he would pay at home in California. To his surprise, the price is exactly the same as at home.
This is an example of uniform pricing.
The opposite of this is differential pricing where discrimination plays a part in product price
Administrative Management Group of answer choices emphasizes perspective of senior managers and that management, as a profession, can be taught. applied scientific methods to analyze work and determine how best to complete production tasks in an efficient manner in order to improve production efficiency. structured, formal network of relationships among specialized positions; rules and regulations to standardize behavior and; authority resides in positions not individuals; therefore organizations will realize efficiency and success by following established unbiased rules. build internal procedures and processes into operations to improve coordination efforts. was the first approach to emphasize informal work relationships and worker satisfaction.
Answer:
The correct answer is the first option: Emphasizes perspective of senior managers and that management, as a profession, can be taught.
Explanation:
To begin with, the term known as "Administrative Management" refers to the discipline whose main purpose is to focus in the efficient and effective organization of people, information and procedures inside the entity that will all lead to the completion of the tasks that are needed to be done in order to achieve the termination of the product or service that organization produces. This particular approach seeks for the employers to achieve the field in where the understand all the contents necessary to analyze what is happening around the organization and be able to work with that as good as possible.
Building Company adds a shipping dock to the property of Corporate Complex, but the owner does not pay. Building files a lien on Corporate property. The property a. must be returned to the debtor within a certain period of time. b. none of the choices. c. must be sold to provide payment of the debt. d. can be held to guarantee payment of the debt.
Answer:
d. can be held to guarantee payment of the debt.
Explanation:
In the case when the building company added the shipping dock to the complex property but the owner does not pay the same so building filed a lien on the complex property so the property could be held for the debt payment that should be guarantee
Therefore the option d is correct
An investor buys 100 shares of stock selling at $50 per share using a margin of 50%. The stock pays its annual dividends of $1.00 per share in 3 months. A margin loan can be obtained at an annual interest cost of 7.75%. Determine what return on invested capital the investor will realize if the stock price increases to $60 within six months
Answer:
The return on invested capital the investor will realize is 40.125%
Explanation:
First calculate the equity and borrowed fund investment
Equity investment = 100 shares x $50 x 50% = $2,500
Borrowed investment = 100 shares x $50 x 50% = $2,500
Now calculate the dividend and interest value
Dividend = 100 shares x $1 per share = $100
Interest paid = $2,500 x 7.75% x 6/12 = 96.875
Now calculate the price appreciation
Price apreciation = 100 Shares x ( $60 per share - $50 per share = $1,000
Now use the following formula to calculate the return on investment
Return on investment = ( Dividend - Interest payment + Price apprecaition ) / Equity Investment
Return on investment = ( $100 - $96.875 + $1,000 ) / $2,500
Return on investment = $1,003.125 / $2,500
Return on investment = 0.40125
Return on investment = 40.125%
Diego owns 1,000 shares of Carmen. If Carmen Company issues an additional 100,000 shares of common stock, how many additional shares does Diego have the opportunity to buy
Answer:
Number of additional shares Diego has the opportunity to buy is 500 shares.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Carmen Company has the following equity amounts and no dividends in arrears.
Preferred stock, $1,000 par $24 million
Common stock, $100 par $20 million
Paid-in capital in excess of par $36 million
Retained earnings $18 million
Diego owns 1,000 shares of Carmen. If Carmen Company issues an additional 100,000 shares of common stock, how many additional shares does Diego have the opportunity to buy?
a. 500 b. 1,000 c. 2,000 d. 3,000
The explanation of the answer is now given as follows:
Current number of Carmen's Common stock shares outstanding = Common stock value / Common stock par value = $20,000,000 / $100 = 200,000 shares
Current percentage of Diego ownership in Carmen = Current number of Diego;s shares / Current number of Carmen's Common stock shares outstanding = 1,000 / 200,000 = 0.005, or 0.50%
Number of additional shares Diego has the opportunity to buy = Number of additional shares Camen wants to issue * Current percentage of Diego ownership in Carmen = 100,000 * 0.50% = 500 shares
Jett Corp. had 600,000 shares of common stock outstanding on January 1, issued 900,000 shares on July 1, and had income applicable to common stock of $1,837,500 for the year ending December 31, 2007. Earnings per share of common stock for 2007 would be:_____.
a. $1.05.
b. $.50.
c. $.60.
d. $.70.
e. $.84.
Answer:
the earning per share is $2.45
Explanation:
The computation of the earning per share is given below;
= Net income ÷ outstanding shares
= ($1,837,500) ÷ (600,000 shares + 900,000 shares) ÷ 2
= $1,837,500 ÷ 750,000
= $2.45
hence, the earning per share is $2.45
This is the correct answer but the same is not provided in the given options
Scora, Inc., is preparing its master budget for the quarter ending March 31. It sells a single product for $60 per unit. Budgeted sales for the next three months follow. January February March Sales in units 1,400 2,200 1,300 Prepare a sales budget for the months of January, February, and March.
Answer and Explanation:
The preparation of the sales budget for the months of January, February, and March is presented below;
Particulars bud unit sales bud unit price bud total sales
january 1400 $60 $84,000
february 2200 $60 $132,000
march 1300 $60 $78,000
total for the quarter 4,900 $60 $294,000
A Ford Mustang GT costs $75000. Assuming the price of a Ford Mustang didn't change since 1985, calculate the current(2019) price of resale for Mustangs purchased over the years, subject to variable depreciation based on Year of Purchase.
YEAR OF PURCHASE ANNUAL DEPRECIATION
1985 - 1995 $2000
1996 - 2005 $1800
2006 - 2015 $1600
2016 - Present $1400
A Mustang bought in 1997 will depreciate by $1800 annually and will resell at $33600 in 2020 or a Mustang bought in 2008 will depreciate by $1600 annually and will resell at $55800 in 2020. Create an excel sheet that asks the user the year of purchase and calculates the resale value of the car in 2020.
Answer:
Explanation:
The excel was created. The User has to enter the year that the vehicle was purchased and it will automatically calculate the resale value of the vehicle where it says "Resale Value in 2020: ". The excel sheet and proof of output is attached below.
help asap please:)))!!!
Answer:
number 4
Explanation:
i used a calculator
You are planning to make monthly deposits of $500 into a retirement account that pays 6 percent interest compounded monthly. If your first deposit will be made one month from now, how large will your retirement account be in 40 years
Answer:
$995,745
Explanation:
PV = $0
PMT = $500
I/YR = 6
P/YR = 12
N = 40 x 12 = 480
your retirement account be in 40 years will be $995,745
Hammerhead Inc. uses practical capacity as the denominator to set the cost of supplying capacity and for the current period the budgeted cost per unit of supplying capacity was $42. Practical capacity was set at 10,000 units with theoretical capacity at 14,000 units. During the period, only 4,000 units were produced while the master budget assumed that the company would produce 9,000 units. What is the value of the manufacturing resources NOT used during the period
Answer:
the value of the manufacturing resources not used is $252,000
Explanation:
The computation of the value of the manufacturing resources not used is shown below
= (practical capacity - number of units produced) × budgeted cost per unit of supplying capacity
= (10,000 units - 4,000 units) × $42
= 6,000 units × $42
= $252,000
Hence, the value of the manufacturing resources not used is $252,000
Alberton Electronics makes inexpensive GPS navigation devices and uses a normal cost system that applies overhead based on machine hours. The following current year budgeted data are available:
Variable factory overhead at 100,000 machine hours $2,750,000
Variable factory overhead at 150,000 machine hours 4,125,000
Fixed factory overhead at all levels between 10,000 and 180,000 machine hours 3,168,000
Practical capacity is 180,000 machine hours; expected capacity is two-thirds of practical.
Required:
a. What is Alberton Electronics’ predetermined VOH rate?
b. What is the predetermined FOH rate using practical capacity?
c. What is the predetermined FOH rate using expected capacity?
d. During 2013, the firm records 110,000 machine hours and $2,710,000 of overhead costs. How much variable overhead is applied? How much fixed overhead is applied using the rate found in (b)? How much fixed overhead is applied using the rate found in (c)? Calculate the total under- or overapplied overhead for 2013 using both fixed OH rates.
Answer:
Alberton Electronics
a. Alberton Electronics' predetermined VOH rate = $27.50 ($1,375,000/50,000)
b. The predetermined FOH rate using practical capacity = $17.60 ($3,168,000/180,000)
c. The predetermined FOH rate using expected capacity = $26.40 ($3,168,000/120,000)
d. Variable overhead applied = $3,025,000 (110,000 * $27.50)
Fixed overhead applied using $17.60 FOH rate = $1,936,000 (110,000 * $17.60)
Fixed overhead applied using $26.40 FOB rate = $2,904,000 (110,000 * $26.40)
The Total under-or applied overhead for 2013:
a) Overapplied overhead = $2,251,000 ($4,961,000 - $2,710,000)
b) Overapplied overhead = $3,219,000
Explanation:
a) Data and Calculations:
Variable factory overhead at 100,000 machine hours $2,750,000
Variable factory overhead at 150,000 machine hours 4,125,000
Difference = 50,000 machine hours and $1,375,000
Variable overhead rate = $1,375,000/50,000 = $27.50
Fixed factory overhead between 10,000 and 180,000 machine hours = $3,168,000
Practical capacity = 180,000
Expected capacity = 120,000 (180,000 * 2/3)
a. Alberton Electronics' predetermined VOH rate = $27.50 ($1,375,000/50,000)
b. The predetermined FOH rate using practical capacity = $17.60 ($3,168,000/180,000)
c. The predetermined FOH rate using expected capacity = $26.40 ($3,168,000/120,000)
d. Variable overhead applied = $3,025,000 (110,000 * $27.50)
Fixed overhead applied using $17.60 FOH rate = $1,936,000 (110,000 * $17.60)
Fixed overhead applied using $26.40 FOB rate = $2,904,000 (110,000 * $26.40)
The Total under-or applied overhead for 2013:
a) Total overhead applied = $4,961,000 ($3,025,000 + $1,936,000)
Overapplied overhead = $2,251,000 ($4,961,000 - $2,710,000)
b) Total overhead applied = $5,929,000 ($3,025,000 + $2,904,000)
Overapplied overhead = $3,219,000 ($5,929,000 - $2,710,000)
Under variable costing, if a manager's bonus is tied to operating income, then increasing inventory levels compared to last year would result in: being unable to determine the manager's bonus using only the above information not affecting the manager's bonus increasing the manager's bonus decreasing the manager's bonus
Answer: not affecting the manager's bonus
Explanation:
Under Variable costing, fixed manufacturing overhead is not charged on inventories produced or not sold for the year which means that regardless of inventory level, the relevant inventory here when it comes to calculating operating profit is the one that was sold.
The manager's bonus will therefore not change as a result of higher inventory levels. Were this absorption costing where fixed overhead was charged to inventory that was not sold, the manager's bonus would increase because the higher inventory level would absorb more of the cost.
2. Interest Earned. Lisa is depositing $2,500 in a six-month CD that pays 4.25% interest. How much interest will she accrue if she holds the CD until maturity
Answer: $53.125
Explanation:
From the question, we are informed that Lisa is depositing $2,500 in a six-month CD that pays 4.25% interest. The amount of interest that she will accrue if she holds the CD until maturity will be calculated thus:
Interest = Principal × Rate × Time
= $2500 × 4.25% × 6months
= $2500 × 0.0425 × 6/12
= $53.125
Therefore, the amount of interest that she will accrue if she holds the CD until maturity is $53.125.
Menlove Corporation has provided the following cost data for last year when 100,000 units were produced and sold:
Raw materials $200,000
Direct labor 100,000
Manufacturing overhead 200,000
Selling and administrative expense 150,000
All costs are variable except for $100,000 of manufacturing overhead and $100,000 of selling and administrative expense. If the selling price is $10 per unit, the net operating income from producing and selling 110,000 units would be:
a. $450,000
b. $385,000.
c. $405,000.
d. $605,000
Answer:
Net operating income= $405,000
Explanation:
First, we need to calculate the unitary variable cost:
Total variable cost= 650,000 - 100,000 - 100,000= $450,000
Unitary variable cost= 450,000 / 100,000
Unitary variable cost= $4.5
Total fixed cost= 100,000 + 100,000= $200,000
Now, the net operating income for 110,000 units:
Sales= 10*110,000= 1,100,000
Total variable cost= 110,000*4.5= (495,000)
Total contribution margin= 605,000
Total fixed cost= 200,000
Net operating income= $405,000
84,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,300. Using the straight-line method, the book value at December 31, 2021, would be:
Answer:
$67,860
Explanation:
Depreciation = Cost - Residual amount ÷ Useful life
= ($84,000 - $3,300) ÷ 5
= $16,140
Book Value = Cost - Accumulated depreciation
therefore,
Book Value = $84,000 - $16,140
= $67,860
thus
The book value at December 31, 2021, would be: $67,860
Taylor Company issues bonds with a par value of $800,000 on their issue date at a market price of 91.9. The bonds mature in 5 years and pay 6% annual interest in semiannual payments. On the issue date, the market rate of interest (annual) is 8%. Compute the total interest expense for Taylor Company over the life of the bonds.
Answer:
$393,198
Explanation:
Bond Repayments (Coupons) include a capital payment and a finance charge (interest). These can only be separated in by constructing an amortization schedule.
Set the financial calculator as :
PV = - $919,000
FV = $800,000
PMT = ($800,000 x 6%) ÷ 2 = $24,000
P/YR = 2
N = 5 x 2 = 10
I/YR = 8 %
Thus
the total interest expense for Taylor Company over the life of the bonds is $393,198
On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $77 million at par and classified the securities as available-for-sale. On December 31, 2021, these bonds were valued at $72 million. Nine months later, on October 3, 2022, Jefferson Corporation sold these bonds for $93 million.
As part of the multistep approach to record the 2022 transaction Jefferson Corporation should next take the second step of:________
a. Reversing total accumulated unrealized holding gains of $25 milion.
b. Reversing total accumulated unrealized holding gains of $18 milion
c. Reversing total accumulated unrealized holding gains of S7 million
d. Reversing total accumulated unrealized holding gains of $11 milion
Answer:
a
Explanation:
Why south African post office taking private courier companies to court
Answer:
the south Africa post office (SAPO)
"S Company reported net income for 2021 in the amount of $460,000. The company's financial statements also included the following: Increase in accounts receivable $ 75,000 Decrease in inventory 62,000 Increase in accounts payable 230,000 Depreciation expense 103,000 Gain on sale of land 147,000 What is net cash provided by operating activities under the indirect method?"
Answer:
$633,000
Explanation:
Calculation to determine net cash provided by operating activities under the indirect method
Using this formula
Net cash provided by operating activities=Net income-(+Increase in accounts receivable)-(-Decrease in inventory )+Increase in accounts payable+Depreciation expense -Gain on sale of land
Let plug in the formula
Net cash provided by operating activities=$460,000 -(+$75,000)-(-$62,000) + $230,000 +$103,000 - $147,000
Net cash provided by operating activities=$633,000
Therefore net cash provided by operating activities under the indirect method is $633,000
A person buys X in one market and combines it with Y purchased in another market. The combination of X and Y gives Z, which the person sells in a third market for a higher price than the sum of the prices of X and Y. Which theory of profit is most consistent with this example
Answer:
arbitration
Explanation:
Arbitration occurs when the price of a security or a commodity varies significantly between different markets. For example, I purchase gold in the United Kingdom at a lower price than in the United States, and I bring it to the United States and make a profit. Arbitration opportunities result from market inefficiencies and a lack of a single price.
g The perfectly competitive firm's supply curve: Group of answer choices coincides with its perfectly elastic demand curve. is the firm's average total cost curve above the shutdown point. is perfectly inelastic at the market price. is the firm's marginal cost curve above the minimum point on the AVC curve.
Answer:
is the firm's marginal cost curve above the minimum point on the AVC curve.
Explanation:
In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.
This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.
Generally, a perfectly competitive market is characterized by the following features;
1. Perfect information.
2. No barriers, it is typically free.
3. Equilibrium price and quantity.
4. Many buyers and sellers.
5. Homogeneous products.
Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.
In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.
The law of supply states that the higher the price of goods and services, the lower the supply.
An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.
Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.
Hence, a perfectly competitive firm's supply curve is the firm's marginal cost (MC) curve above the minimum point on the average variable cost (AVC) curve.
An increase in total assets: means that net working capital is also increasing. requires an investment in fixed assets. means that stockholders' equity must also increase. must be offset by an equal increase in liabilities and stockholders' equity. can only occur when a firm has positive net income.
Answer:
Must be offset by an equal increase in liabilities and stockholders' equity
Explanation:
Accounting Equation is stated as :
Asset = Equity + Liabilities
thus
The Left Hand Side must always equal the Right Hand Side.
therefore,
An increase in total assets: must be offset by an equal increase in liabilities and stockholders' equity.
Ambassador Corp. sells household cleaners producing a revenue stream that has remained unchanged in the last few years. The firm does not expect any change in its earnings or dividends for the next several years. The stock is currently selling at $46.88. If the required rate of return is 16 percent, what is the dividend paid by this company
Answer:
$7.50
Explanation:
According to the scenario, computation of the given data are as follows,
Price of stock = $46.88
Required rate = 16%
So, we can calculate the dividend by using following formula,
Dividend = Price of stock × Required rate
By putting the value, we get
Dividend = $46.88 × 16%
= $7.50
Hence, dividend paid by this company is $7.50.
Which structure is used to supply customers (often other MNEs) in a coordinated and consistent way across various countries
Answer:
Global account structure.
Explanation:
Global account structure can be regarded as structure that enables the account that has been globally standardised or having compatible products as well as services in various locations at internationally level. Global Account Management enables Global account managers to navigate along with their teams the internal as well as external challenges. It should be noted that structure used to supply customers (often other MNEs) in a coordinated and consistent way across various countries is Global account structure.
Aquatic Equipment Corporation decided to switch from the LIFO method of costing inventories to the FIFO method at the beginning of 2009. The inventory as reported at the end of 2008 using LIFO would have been $60,000 higher using FIFO. Retained earnings had been reported at the end of 2008 as $780,000 (reflecting the LIFO method). The tax rate is 40%.Required:1. Calculate the balance in retained earnings at the time of the change (beginning of 2009) as it would have been reported if FIFO had been used in prior years.2. Prepare the journal entry at the beginning of 2009 to record the change in principle.
Answer:
A. $816,000
B. Dr Inventory $60,000
Cr Retained earning $36,000
Cr Tax payable $24,000
Explanation:
A. Calculation to determine the balance in retained earnings at the time of the change
Using this formula
Retained earnings = Beginning retained earning balance + Adjusted net income
Let plug in the formula
Retained earnings=$780,000+ $60,000 × (1 - 40%)
Retained earnings=$780,000+($60,000×60%)
Retained earnings=$780,00+ $36,000
Retained earnings= $816,000
Therefore the balance in retained earnings at the time of the change is $816,000
2. Preparation of the journal entry at the beginning of 2009 to record the change in principle.
Dr Inventory $60,000
Cr Retained earning $36,000
[$60,000 × (1 - 40%)]
Cr Tax payable $24,000
($60,000-$36,000)
(Being to record the change in principle)
Use the following Balance Sheet and Income Statement data of Bronson Corporation to calculate its debt to total assets ratio as of December 31, 2017:
Current assets $9,000 Net income $70,000
Current liabilities 4,000 Common stock 10,000
Average assets 28,000 Total liabilities 6,000
Total assets 30,000 Retained earnings 20,000
Write your response rounded to the nearest whole number only.
Answer:
20 %
Explanation:
The Debt to Total Assets ratio is used to measure financial risk, the higher the ratio the more financial risk there is.
Debt to Total Assets ratio = Total debt / Total Assets x 100
therefore,
Debt to Total Assets ratio = $6,000 / $30,000 x 100 = 20 %
thus,
The debt to total assets ratio as of December 31, 2017: 20 %
10 POINTS!! FINANCE
What do statistics show about most Americans’ financial management?
Statistics show that 46% of Americans couldn’t come up with at least $400 in an emergency and 60% will face an emergency in less than 12 months.