Answer:
a. In response to concerns from business leaders, a legislator has designed a new tariff on raw materials used by many manufacturing firms. The legislator felt the new tariff was necessary based on input from the private sector that new discoveries of natural resources abroad would threaten to put domestic producers of raw materials out of business. To meet this goal, this tariff will charge $1,500 on every crate of the imported goods plus an additional 6% of the total value of the imported goods.
protective tariff since it is designed to protect domestic industries from competition of out of state producers. It is designed to increase the price of imported goods.b. In an effort to balance next year's budget, a senator has proposed a new tariff. She proposed the new tariff with a goal of raising a total of $100 million, To meet this goal, this tariff will charge $2,000 on every ton that is imported.
revenue tariff since its main purpose is to increase government revenue, not to protect domestic industries.The first scenario describes protective tariff whereas the second scenario explains revenue tariff.
What is protective and revenue tariff?In international trade, protective tariffs are applied on the imported goods to protect and prevent the domestic industries from competition.
In scenario a, a tariff of $1,500 and additional of 6% was charged on imported goods to protect the domestic producers. Therefore the first scenario describes protective tariff.
The revenue tariff on the other hand refers to a tariff that is designed with an intention to increase revenues.
The scenario b describes a tariff that was applied to reach the target revenue of $100 million. Therefore it is a revenue tariff.
Learn more about protective and revenue tariff here:
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Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
a. 4.21
b. 15.00
c. 4.00
d. 3.75
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00d. 3.75
Suppose Dan’s cost of making pizzas is C(Q) = 4Q + (Q2/40), and his marginal cost is MC = 4 + (Q/20). Dan is a price taker. (a) What is Dan’s supply function? (b) What is Dan’s supply function if he has an avoidable fixed cost of $10? [HINT: Recall that Dan will not supply anything unless P > min AC(Q). So, as a first step, you need to find AC(Q) from C(Q). In part (a), finding min AC(Q) is easy and you should be able to do so just by looking at the formula for AC (Q). For part (b), you can find the minimum of AC by using the fact that AC(Q) = MC(Q) at the minimum point of AC.]
Answer:
(a) Dan’s supply function S(P) can be stated as follows:
S(P)= 0 If P<4.
And S(P) = 20P- 80 If P≥4
(b) Dan’s supply function S(P) can be stated as follows:
S(P)= 0 If P<5.
And S(P) = 20P- 80 If P≥5.
Explanation:
Note that the equations given in the question can be correctly stated as follows:
C(Q) = 4Q + (Q^2/40) .................. (1)
MC = 4 + (Q/20) ............................ (2)
Therefore, we can now proceed as follows:
(a) What is Dan’s supply function?
The upward portion of the MC curve is the supply function of Dan.
Equating equation (2) to P, we have:
P = 4+ (Q/20)
P- 4 = Q/20
Q = 20P -80
The shutdown rule is that P > AVCmin
AVC = C(Q) / Q .................. (3)
Substituting equation (1) into (3), we have:
AVC = ( 4Q + Q^2/40)/ Q
AVC = 4 + (Q/40) ............... (4)
Since MC cuts the AVC at its minimum, equations (2) and (4) are then equated to solve Q which is the output level at which AVC is minimum as follows:
4 + (Q/20) = 4 + (Q/40)
(Q/20) - (Q/40) = 4 - 4
(Q/20) - (Q/40) = 0
Q = 0
Substituting Q = 0 into equation (4), we have:
AVCmin = 4+ (0/40)
AVCmin = 4
This implies that Dan will produce at any price ≥ $4.
Therefore, Dan’s supply function S(P) can be stated as follows:
S(P)= 0 If P<4.
And S(P) = 20P- 80 If P≥ 4.
(b) What is Dan’s supply function if he has an avoidable fixed cost of $10?
Since there is now a fixed cost, equation (1) becomes:
C(Q) = 4Q + (Q^2/40) + 10 ................. (5)
And the average cost (AC) will be as follows:
AC = (4Q + (Q2/40) + 10)/Q
AC = 4 + (Q/40) + (10/Q) .................... (6)
Since AC = MC when AC at its minimum, equations (2) and (6) are therefore equated to solve for Q as follows:
4 + (Q/40) + (10/Q) = 4 + (Q/20)
(Q/40) + (10/Q) = (Q/20)
Q = 20
Divide through by Q, we have:
(1/40) + (10/Q^2) = (1/20)
10/Q^2 = (1/20) - (1/40)
10/Q^2 = 0.05 - 0.025
10/Q^2 = 0.025
Q^2 = 10 / 0.025
Q^2 = 400
Q = [tex]\sqrt{400}[/tex]
Q = 20
Substituting Q = 20 into equation (6), we have:
AC = 4 + (20/40) + (10/20)
AC = $5
This implies that Dan will produce at any price ≥ $5.
Therefore, Dan’s supply function S(P) can be stated as follows:
S(P)= 0 If P<5.
And S(P) = 20P- 80 If P≥ 5
Creating a Multimedia Presentation to Demonstrate Knowledge of Agriculture, Food, and Natural Resource Careers For this assignment, you will create a multimedia presentation on Agriculture, Food,
and Natural Resources tasks and work environments to demonstrate understanding
of these careers.
Useful references for gathering this information will be listed at the end of this
document. Your presentation should include a title slide, thirteen slides representing
tasks and work environments for specific Agriculture, Food, and Natural Resource
careers, and a works cited slide.
Assignment Instructions
Step 1: Gather materials and necessary information.
a) Use resources listed at the end of this document to create your multimedia
presentation for Agriculture, Food, and Natural Resource careers.
b) Be sure to keep a list of your references so you can cite them later.
c) Ask your teacher where you should save your presentation as you work on it.
Your teacher may also have specific guidelines about the file name you
should use.
Step 2: Create your title slide.
a) Begin by creating the title slide. On this slide, include the title of your
presentation, your name, your teacher’s name, and the due date of the presentation.b) Remember to save your work as you go.
Step 3: Provide information for Farmworkers and Laborers, Crop careers.
a) Create a slide titled Common Tasks for Farmworkers and Laborers, Crop.
b) Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop
that are listed as common tasks on the O*NET site. Add a picture of at least one of
these tasks to the slide.
c) Create a slide titled Common Work Activities for Farmworkers and
Laborers, Crop.
d) Create a bulleted list describing four work activities for Farmworkers and Laborers,
Crop that are listed as common work activities on the O*NET site. Add a picture of
at least one of these work activities to the slide.
e) Create a slide titled Common Work Contexts for Farmworkers and
Laborers, Crop.
f) Create a bulleted list describing work contexts for Farmworkers and Laborers,
Crop that are listed as common work contexts on the O*NET site. Add a picture of
at least one of these common work contexts to the slide.
Step 4: Provide information for Forester careers.
a) Create a slide titled Common Tasks for Foresters.
b) Create a bulleted list describing four tasks for Foresters that are listed as common
tasks on the O*NET site. Add a picture of at least one of these tasks to the slide.
c) Create a slide titled Common Work Activities for Foresters.
d) Create a bulleted list describing four work activities for Foresters that are listed as
common work activities on the O*NET site. Add a picture of at least one of these
work activities to the slide.
e) Create a slide titled Common Work Contexts for Foresters.
f) Create a bulleted list describing work contexts for Foresters that are listed as
common work contexts on the O*NET site. Add a picture of at least one of these
common work contexts to the slide.
Step 5: Provide information for Nursery and Greenhouse Managers.
a) Create a slide titled Common Tasks for Nursery and Greenhouse Managers.
Answer:
Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop that are listed as
common tasks on the O*NET site.
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Create a bulleted list describing four work activities for Farmworkers and Laborers, Crop that are listed
as common work activities on the O*NET site.
the slide.
• Handling and moving objects.
• Preforming general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Create a bulleted list describing work contexts for Farmworkers and Laborers, Crop that are listed as
common work contexts on the O*NET site.
to the slide.
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Create a bulleted list describing four tasks for Foresters that are listed as common tasks on the O*NET
site.
• Monitor contract compliance and results of forestry activities to assure adherence to
government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Create a bulleted list describing four work activities for Foresters that are listed as common work
activities on the O*NET site.
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Create a bulleted list describing work contexts for Foresters that are listed as common work contexts on
the O*NET site.
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Create a bulleted list describing four tasks for Nursery and Greenhouse Managers that are listed as
common tasks on the O*NET site.
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Create a bulleted list describing four work activities for Nursery and Greenhouse Managers that are
listed as common work activities on the O*NET site.
to the slide.
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Create a bulleted list describing work contexts for Nursery and Greenhouse Managers that are listed as
common work contexts on the O*NET site.
to the slide.
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Create a bulleted list describing four tasks for Veterinarians that are listed as common tasks on the
O*NET site.
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Create a bulleted list describing four work activities for Veterinarians that are listed as common work
activities on the O*NET site.
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Create a bulleted list describing work contexts for Veterinarians that are listed as common work
contexts on the O*NET site.
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation: hope this helps this is what I got
Answer:
“Architecture and Construction Workplaces and Tasks”
Four tasks for Farm workers and Laborers
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Four work activities for Farm workers and Laborers
• Handling and moving objects.
• Performing general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Work contexts for Farm workers and Laborers
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Four tasks for Foresters
• Monitor contract compliance and results of forestry activities to assure adherence to government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Four work activities for Foresters
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Work contexts for Foresters
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Four tasks for Nursery and Greenhouse Managers
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Four work activities for Nursery and Greenhouse Managers
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Work contexts for Nursery and Greenhouse Managers
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Four tasks for Veterinarians
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Work activities for Veterinarians
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Work contexts for Veterinarians
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation:
this is exactly what i turned in !!!! hope it helps
name 5 kids who helped the world
Answer:’
Explanation:
these are the choices fill in the blanks.
asset backed security.
bank run
credit default swap.
capital
bond.
credit
common stock.
credit crunch
mortgage-backed securities.
debt
mutual fund.
default
option.
equity
futures contract.
foreclosure
subprime mortgage.
leverage
central bank.
liquidity
commercial bank.
liquidity risk
hedge fund.
moral hazard
investment bank.
mortgage
fannie mae/ freddie mac.
nationalization
federal deposit insurance corporation.
regulation
federal reserve system.
return
private equity fund
risk
securitization
Organizations exchange information internally and externally. External messages go to customers, vendors, the government, and other business partners. Internal messages travel upward to supervisors, downward to employees, and horizontally among workers. Understanding the different types of business messages and following the 3-x-3 writing process will help you write more effective professional messages.
Match the message content area with the correct types of messages.
a. Sales pitches, requests for favors
b. Replies, goodwill messages, direct claims
c. Bad news, refusals
1. persuasive
2. positive
3. negative
Answer:
1. persuasive: a. Sales pitches, requests for favors
2. positive: b. Replies, goodwill messages, direct claims
3. negative: c. Bad news, refusals
Explanation:
a) A persuasive speech is one whose goal is to convince someone of something, so it is correct to say that in an organizational message where there are sales speeches and requests for favors, there is a need for a persuasive speech, whose message seeks to convince the sender of the benefits of make a sale for example.
b) A positive speech is one whose intention is to motivate, give praise, offer positive feedback, etc. Therefore, in responses, messages of goodwill, direct claims, positive speech will help in better understanding of the sender and in the positive positioning of the company.
c) A negative discourse occurs when there is bad news to be shared, it is necessary that this message is written in a soft way, with damping words and indirectly, because this way the acceptability can be greater.
On September 12, Vander Company sold merchandise in the amount of $3,950 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $2,725. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $340 and the cost of the merchandise returned is $240. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Vander makes on September 18 is:
Answer:
Date Account Debit Credit
September 18 Cash $3,537.80
Sales discount $ 72.20
Accounts Receivable $3,610
Explanation:
Net merchandise sold = 3,950 - 340
= $3,610
Sales discount is 2% if paid in 10 days which Jepson did.
= 2% * 3,610
= $72.20
Cash = Net sales - discount
= 3,610 - 72.20
= $3,537.80
Hughes Co. is growing quickly. Dividends are expected to grow at a rate of 22 percent for the next three years, with the growth rate falling off to a constant 5 percent thereafter. If the required return is 12 percent and the company just paid a $2.35 dividend, what is the current share price? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Answer: $53.94
Explanation:
Current share price is the present value of the dividends for the next 3 years and the terminal value in year 3.
Terminal value = D₄ / ( required return - growth rate)
= (2.35 * 1.22³ * 1.05) / (12 % - 5%)
= $64
D₁ = 2.35 * 1.22 = $2.867
D₂ = 2.867 * 1.22 = $3.49774
D₃ = 3.49774 * 1.22 = $4.2672428
Share price = (2.867 / (1 + 12%)) + (3.49774 / 1.12²) + (4.2672428 / 1.12³) + (64/1.12³)
= $53.94
Which of the following statements about real and nominal interest rates is correct? A. An increase in the real interest rate is necessarily accompanied by either an increase in the nominal interest rate, an increase in the inflation rate, or both. B. When the inflation rate is positive, the nominal interest rate is necessarily greater than the real interest rate. C. When the nominal interest rate is rising, the real interest rate is necessarily rising; when the nominal interest rate is falling, the real interest rate is necessarily falling. D. If the nominal interest rate is 4 percent and the inflation rate is 3 percent, then the real interest rate is 7 percent.
Answer:
B. When the inflation rate is positive, the nominal interest rate is necessarily greater than the real interest rate.
Explanation:
A real interest rate can be regarded as
an interest rate that adjustment has been made on in order to remove the effects of inflation so that the real cost of funds to the borrower as well as real yield to the lender can be reflected. A nominal interest rate on the other hand can be regarded as interest rates calculated before consideration of inflation. It should be noted that When the inflation rate is positive, the nominal interest rate is necessarily greater than the real interest rate.
Duncan, Inc.'s unadjusted book balance showed cash balance of $1,763 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $427, deposits in transit of $831, NSF check of $195, and interest earned on the bank account of $15, the company's up-to-date ending cash balance equals:$_____
Answer:
the up-to-date ending cash balance is $2,167
Explanation:
The computation of the up-to-date ending cash balance is shown below:
= Cash balance + deposit in transit - outstanding checks
= $1,763 + $831 - $427
= $2,167
Hence the up-to-date ending cash balance is $2,167
We simply applied the above formula
Maxim Corp. has provided the following information about one of its products: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 200 $ 140 6/5 Purchase 400 $ 160 11/10 Purchase 100 $ 200 During the year, Maxim sold 400 units. What is cost of goods sold using the average cost method
Answer:
$64,000
Explanation:
Calculation to determine the cost of goods sold using the average cost method
First step is to calculate the Average cost
Average cost = [(200 × $140) + (400 × $160) + (100 × $200)] ÷ 700 units
Average cost= $160
Now let calculate the Cost of goods sold
Cost of goods sold = $160 × 400 units
Cost of goods sold = $64,000
Therefore the cost of goods sold using the average cost method will be $64,000
On August 5, 2021, Carla Vista Furniture shipped 30 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $420 each. The cost of shipping the dining sets amounted to $4300 and was paid for by Carla Vista Furniture. On December 30, 2021, the consignee reported the sale of 20 dining sets at $920 each. The consignee remitted payment for the amount due after deducting a 7% commission, advertising expense of $670, and installation and setup costs of $850. The amount cash received by Carla Vista furniture is
Answer:
$15,592
Explanation:
Calculation to determine what The amount of cash received by Carla Vista furniture is
Cash received =[(20 × $920)*(100%-7%)] - $670 - $850
Cash received=($18,400*93%)-$670-$850
Cash received=17,112-$670-$850
Cash received=$15,592
Therefore The amount of cash received by Carla Vista furniture is $15,592
Grant Industries, a manufacturer of electronic parts, has recently received an invitation to bid on a special order for 20,500 units of one of its most popular products. Grant currently manufactures 41,000 units of this product in its Loveland, Ohio, plant. The plant is operating at 50% capacity. There will be no marketing costs on the special order. The sales manager of Grant wants to set the bid at $13 because she is sure that Grant will get the business at that price. Others on the executive committee of the firm object, saying that Grant would lose money on the special order at that price.
Units 41,000 61,500
Manufacturing costs:
Direct materials $123,000 $184,500
Direct labor 164,000 246,000
Factory overhead 328,000 430,500
Total manufacturing costs$615,000 $861,000
Unit cost $15 $14
Required:
1. What is the relevant cost per unit and the bid price?
2. What would the total opportunity cost be if by accepting the special order the company lost sales of 6,500 units to its regular customers?
Answer:
Missing word "What would the total opportunity cost be if by accepting the special order the company lost sales of 6,500 units to its regular customers? Assume the above facts plus a normal selling price of $24 per unit."
Variable factory overhead per unit = (430,500 - 328,000) / 20,500 = $5
Direct materials per unit = $123,000 / 41,000 = $3
Direct labor per unit = 164,000 / 41,000 = $4
1. Relevant cost per unit = Direct materials per unit + Direct labor per unit + Variable factory overhead
Relevant cost per unit = $5 + $4 + $3
Relevant cost per unit = $12
So, the bid price should be above $10 per unit
2. Total opportunity cost would be the total contribution margin lost for the lost sales to the regular customer
Total opportunity cost = Loss of regular sales revenue - Total relevant cost for lost sales
Total opportunity cost = (6,500*$24) - (6,500*$12)
Total opportunity cost = $156,000 - $78,000
Total opportunity cost = $78,000
1. The relevant cost per unit for Grant Industries is $7.00 ($123,000 + $164,000)/41,000 or ($184,500 + $246,000)/61,500.
2. The total opportunity cost of accepting the special order when the company lost sales of 6,500 units from its regular customers is $12,500.
What are the relevant costs and opportunity costs?The relevant costs describe the avoidable costs that could be stopped if a decision is taken.
For example, if Grant Industries decides to take the special order, the relevant decision-making cost is $7 per unit and not $14 per unit.
The opportunity costs are costs that are not incurred based on taking an alternative decision. It also describes the lost revenue when some sales are lost for the special order.
For example, the total opportunity costs incurred by Grant Industries for taking the special order instead of attending to the regular customers with 6,500 units demand is $12,500.
Data and Calculations:Special order = 20,500 units
Current production = 41,000 units
Current operational capacity = 50%
Total capacity = 82,000 (41,000/50%)
Bid price = $13 per unit
New production based on special order = 61,500 (41,000 + 20,500)
Production Data Per Unit Per Bid
Units 41,000 61,500
Manufacturing costs:
Direct materials $123,000 $184,500
Direct labor 164,000 246,000
Factory overhead 328,000 430,500
Total manufacturing costs $615,000 $861,000
Unit cost $15 $14
Question 2 Completion:Assume the above facts plus a normal selling price of $24 per unit."
The opportunity cost of lost sales:Lost sales units = 6,500
Contribution per unit = $17 ($24 - $7)
Total contribution margin = $110,500 ($6,500 x $17)
Contribution margin from special order = $123,000 ($13 - $7 x 20,500)
Thus, the opportunity cost of lost sales is $12,500 ($123,000 - $110,500).
Learn more about relevant and opportunity costs at https://brainly.com/question/14184614 and https://brainly.com/question/8846809
During May, Salinger Company accumulated 740 hours of direct labor costs on Job 200 and 900 hours on Job 305. The total direct labor was incurred at a rate of $20 per direct labor hour for Job 200 and $23 per direct labor hour for Job 305.Journalize the entry to record the flow of labor costs into production during May. If an amount box does not require an entry, leave it blank.
Answer:
May
Dr Work in Process $35,500
Cr Wages Payable $35,500
Explanation:
Preparation of the Journal entry to record the flow of labor costs into production during May
Based on the information given the Journal entry to record the flow of labor costs into production during May will be :
May
Dr Work in Process $35,500
Cr Wages Payable $35,500
Calculated as:
Labor costs = (740*20)+(900*23)
Labor costs=14,800+20,700
Labor costs=$35,500
Lopez Plastics Co. (LPC) issued callable bonds on January 1, 2018. LPC's accountant has projected the following amortization schedule from issuance until maturity: Date Cash Interest Effective Interest Decrease in balance Outstanding balance 1/1/2018 $207,020 6/30/2018 $7,000 $6,211 $789 206,230 12/31/2018 $7,000 6,187 813 205,417 6/30/2019 $7,000 6,163 837 204,580 12/31/2019 $7,000 6,137 863 203,717 6/30/2020 $7,000 6,112 888 202,829 12/31/2020 $7,000 6,085 915 201,913 6/30/2021 $7,000 6,057 943 200,971 12/31/2021 $7,000 6,027 971 200,000 What is the annual stated interest rate on the bonds
The Lopez Plastics Co. issued the callable bonds at the annual stated interest rate of 7%.
Data and Calculations:
Date Cash Interest Effective Interest Decrease Outstanding
in balance balance
1/1/2018 $207,020
6/30/2018 $7,000 $6,211 $789 206,230
12/31/2018 $7,000 6,187 813 205,417
6/30/2019 $7,000 6,163 837 204,580
12/31/2019 $7,000 6,137 863 203,717
6/30/2020 $7,000 6,112 888 202,829
12/31/2020 $7,000 6,085 915 201,913
6/30/2021 $7,000 6,057 943 200,971
12/31/2021 $7,000 6,027 971 200,000
Total cash interest per year = $14,000 ($7,000 + $7,000)
Annual stated interest rate = 7% ($14,000/$200,000 x 100)
This annual interest rate can also be worked out as 7% ($7,000/$200,000 x 100 x 2), while the effective interest rate is 6% ($6,027/$200,000 x 100).
Thus, Lopez Plastics Co. issued the callable bonds at the annual stated interest rate of 7%.
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A drawback to using stock options as part of manager compensation is that Group of answer choices it encourages managers to engage in empire building. All of the listed answers are true. None of the listed answers are true. it can create an incentive for mangers to manipulate information to prop up a stock price temporarily, giving them a chance to cash out before the price returns to a level reflective of the firm's true prospects. it encourages managers to undertake projects that will increase stock price.
Answer:
C. it can create an incentive for mangers to manipulate information to prop up a stock price
temporarily, giving them a chance to cash out before the price returns to a level reflective of
the firm's true prospects.
Explanation:
A management stock option gives enable managers to have legal right in order to purchase some certain number of shares with the fixed price during some time in future time. Though there are some condition that are needed to be satisfied such as continued employment. It should be noted that drawback to using stock options as part of manager compensation is that it can create an incentive for mangers to manipulate information to prop up a stock price
temporarily, giving them a chance to cash out before the price returns to a level reflective of the firm's true prospects.
Compute cost of goods sold for the period using the following information. Finished goods inventory, beginning $ 354,000 Work in process inventory, beginning 83,000 Work in process inventory, ending 77,100 Cost of goods manufactured 944,200 Finished goods inventory, ending 292,000
Answer:
the cost of goods sold is $1,006,200
Explanation:
The computation of the cost of goods sold is shown below:
As we know that
Cost of goods sold = Opening finished goods + cost of goods manufactured - closing finished goods
= $354,000 + $944,200 - $292,000
= $1,006,200
Hence, the cost of goods sold is $1,006,200
Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes Group of answer choices a price and a subject. a duration and a termination. specific quality standards. an offer and an acceptance.
Answer:
an offer and an acceptance.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In this scenario, Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes an offer and an acceptance.
A small town is considering paving paradise hotel to put up a parking lot. The land will cost $25,000 and the construction of the lot is estimated to be $150,000. Each year, costs associated with the parking lot are estimated to be $17,500. The income from the lot is expected to be $18,000 the first year and increase by $3,500 each year for the 12 year life of the lot. Determine the B/C ratio if interest rate is 12%. [4 points]
Answer:
0.71
Explanation:
The benefit cost ratio is used to determine the profitability of an investor. It is determined by dividing the present value of benefit by the present value of cost
Benefit cost ratio (BC) = present value of benefits / present value of costs
if BC is greater than 1, the project is profitable
If BC is less than 1, the project is not profitable
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Present value of the benefits
Cash flow in year 1 = $18,000
Cash flow in year 2 = $18,000 + 3500 = $21500
Cash flow in year 3 = $18,000 + (3500 x 2) = $25,000
Cash flow in year 4 = $18,000 + (3500 x 3) = $28500
Cash flow in year 5 = $18,000 + (3500 x 4) = $32,000
Cash flow in year 6 = $18,000 + (3500 x 5) = $35,500
Cash flow in year 7 = $18,000 + (3500 x 6) = $39,000
Cash flow in year 8 = $18,000 + (3500 x 7) = $42,500
Cash flow in year 9 = $18,000 + (3500 x 8) = $46,000
Cash flow in year 10 = $18,000 + (3500 x 9) = $49500
Cash flow in year 11 = $18,000 + (3500 x 10) = $53,000
Cash flow in year 12 = $18,000 + (3500 x 11) = $56,500
I = 12 %
PV = $202,331.70
Present value of the cost
Cash flow in year 0 = $25,000 + $150,000 = $175,000
Cash flow in year 1 to 12 = $17,500.
I = 12 %
PV = $283,401.55
B/C ratio = $202,331.70 / $283,401.55 = 0.71
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
A Giffen good is a good for which price and quantity demanded are positively related. A Giffen good arises when:_______.
a. the income effect and the substitution effect move quantity demanded in opposite directions, with the income effect outweighing the substitution effect.
b. the income effect and the substitution effect move quantity demanded in opposite directions, with the substitution effect outweighing the income effect.
c. the income effect and the substitution effect move quantity demanded in the same direction, with the income effect outweighing the substitution effect.
d. the income effect and the substitution effect move quantity demanded in the same direction, with the substitution effect outweighing the income effect.
Answer:
a
Explanation:
A giffen good is a good whose quantity demanded increases with price increase and reduces with price decreases. This leads to an upward sloping demand curve which is not in line with the law of demand
Example of a giffen good is bread.
For a giffen good there would a negative income effect and a positive substitution effect but the income effect would outweigh the substitution effect
Ann lives in Princeton, New Jersey, and commutes by train each day to her job in New York City (20 round trips per month). When the price of a round trip goes up from $10 to $20, she responds by consuming exactly the same number of trips as before, while spending $200 per month less on restaurant meals. Does the fact that her quantity of train travel is completely unresponsive to the price increase imply that Ann is not a rational consumer
Answer:
Yes
Explanation:
A company received 500 applications for a specific position.30 were given an assignment test. Only 15 were invited to an interview. The yield ratio of passing the interview is
a.
75%
b.
20%
c.
50%
d.
25%
Before preparing financial statements for the current year, the chief accountant for Oriole Company discovered the following errors in the accounts.
1. The declaration and payment of $47,000 cash dividend was recorded as a debit to Interest Expense $47,000 and a credit to Cash $47,000.
2. A 10% stock dividend (1,100 shares) was declared on the $10 par value stock when the market price per share was $19. The only entry made was Stock Dividends (Dr.) $11,000 and Dividend Payable (Cr.) $11,000. The shares have not been issued.
3. A 4-for-1 stock split involving the issue of 354,000 shares of $5 par value common stock for 91,750 shares of $20 par value common stock was recorded as a debit to Retained Earnings $1,835,000 and a credit to Common Stock $1,835,000.
Required:
Prepare the correcting entries at December 31.
Answer:
Oriole Company
Correcting Journal Entries:
1. Debit Dividends $47,000
Credit Interest Expense $47,000
To correct the error.
2. No corrections required
3. Debit Common Stock $1,835,000
Credit Retained Earnings $1,835,000
To correct the error.
Explanation:
a) Data and Analysis:
1. Dividends $47,000 Interest Expense $47,000
2. No corrections required
3. Common Stock $1,835,000 Retained Earnings $1,835,000
b) When a stock split is done, there is no journal entry involving an amount of money. What is recorded is just a memo entry. The memo entry serves to notify that the number of Oriole shares and the par value per share have changed to reflect the reality.
Hull Company reported the following income statement information for the current year: Sales $ 423,000 Cost of goods sold: Beginning inventory $ 151,500 Cost of goods purchased 286,000 Cost of goods available for sale 437,500 Ending inventory 157,000 Cost of goods sold 280,500 Gross profit $ 142,500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $33,000. Given this information, the correct gross profit would be:
Answer:
$109,500
Explanation:
Calculation to determine the correct gross profit would be:
Sales $ 423,000
Less: Corrected Cost of goods sold:($313,500)
(280,500 + $33,000)
Gross Profit $109,500
Therefore the correct gross profit would be:$109,500
Assume that a company cannot determine the market value of equipment acquired by reference to a similar purchase for cash. Explain how the company determines the cost of equipment purchased by exchanging it for each of the following 3 items: Bonds having an established market price. Bonds that do not have an established market price. Common stock not having an established market price. Similar equipment having a determinable market value.
Solution :
Let us suppose that a company cannot predict the market value of an equipment that acquired by the reference to the similar purchase for the cash. Thus the company finds cost of purchased of the equipment by exchanging :
-- the market price of the bonds when they have an established price in the market.
-- the market price of the bonds when the common stocks does not have a established market price.
-- market price of the equipment when the similar kind of an equipment have a determinable value in the market.
Rusty has been experiencing serious financial problems. His annual salary was $100,000, but a creditor garnished his salary for $20,000; so the employer paid the creditor (rather than Rusty) the $20,000. To prevent creditors from attaching his investments, Rusty gave his investments to his 21-year-old daughter, Rebecca. Rebecca received $5,000 in dividends and interest from the investments during the year. Rusty transferred some cash to a Swiss bank account that paid him $6,000 interest during the year. Rusty did not withdraw the interest from the Swiss bank account. Rusty also hid some of his assets in his wholly owned corporation that received $150,000 rent income but had $160,000 in related expenses, including a $20,000 salary paid to Rusty. Rusty reasons that his gross income should be computed as follows:
Salary received $80,000
Loss from rental property ($150,000-$160,000) (10,000)
Gross income $70,000
Compute rustys correct gross income for the year, and explain any differences between your calculation and rusty
Answer:
Rusty annual salary was $100,000.
Rusty will not be taxed on the interest and dividend amount of $5,000 as Rebecca is the owner of the assets that is producing this income.
Secondly, Rusty will also need to report the $6,000 interest income. This has to be reported even though it has not been withdrawn.
Thirdly, he received $20,000 as salary from his wholly owned corporation.
Salary from employer $100,000
Salary from wholly owned corporation $20,000
Dividends and interest from the investments $0
Interest from Swiss bank account $6,000
Rental loss incurred $0
Gross income $126,000
Adams Company manufactures two products. The budgeted per-unit contribution margin for each product follows: Super Supreme Sales price $ 95 $ 124 Variable cost per unit (58 ) (74 ) Contribution margin per unit $ 37 $ 50 Adams expects to incur annual fixed costs of $227,880. The relative sales mix of the products is 60 percent for Super and 40 percent for Supreme. Required Determine the total number of products (units of Super and Supreme combined) Adams must sell to break even. How many units each of Super and Supreme must Adams sell to break even
Answer:
Expected contribution as per sales mix = $37*0.60 + $50*0.40
= $22.20 + $20
= $42.20 per unit
Total number of products in total at break even point = Total fixed cost / Contribution per unit
= $227,880 / $42.20 per unit
= 5,400 units
How many units each of Super and Supreme must Adams sell to break even?
According to sales mix:
Super = 5,400 * 60% = 3,240 units
Supreme = 5,400 * 40% = 2,160 units.
makes a product with the following standards for direct labor and variable overhead: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct labor 0.20 hours $ 26.00 per hour $ 5.20 Variable overhead 0.20 hours $ 6.20 per hour $ 1.24 In November the company's budgeted production was 6500 units, but the actual production was 6300 units. The company used 1550 direct labor-hours to produce this output. The actual variable overhead cost was $8990. The company applies variable overhead on the basis of direct labor-hours. The variable overhead rate variance for November is:
Answer:
See
Explanation:
Given that;
Direct labor hours used to produce this output = 1,550
Actual variable overhead cost = $8,990
Variable overhead per hour = $6.2
The variable overhead rate variance for July is;
= Direct labor hours used to produce this out put × (Actual variable overhead rate per hour - Variable overhead per hour)
= 1,550 × ($8,990/1,550 - $6.2)
= 1,550 × ($5.8 - $6.2)
= 1,550 × (-$0.4)
= $620 favorable
Extend the application of a method or conclusion
a.Segmentation b.Extrapolate
c.Diffusion d.Multinational
Answer:
B - Extrapolate
Explanation:
Extrapolate means to extend the application of (a method or conclusion, especially one based on statistics) to an unknown situation by assuming that existing trends will continue or similar methods will be applicable.
d (i). Suppose that ZX Inc. is currently selling at $50 per share. You buy 200 shares, using $5,000 of your own money and borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 5%. What is the rate of return on your margined position (assuming again that you invest $5,000 of your own money) if ZX Inc. is selling after one year at $46 (use whole number percentage with two decimals rounded up/down - i.e. 0.3245 input 32.45) ? Group of answer choices -21% -20% -19% -18%
Answer:
-21%
Explanation:
Initial share price = $50
Share price after 1 year = $46
net return = (200 x $46) - $10,000 - ($5,000 x 5%) = $9,200 - $10,000 - $250 = -$1,050
rate of return of margined position = -$1,050 / $5,000 = -0.21 = -21%
when you operate on the margin, your earnings can increase or decrease dramatically. In this case, an 8% price decrease resulted in a 215 lose.