The correct answer is B. Necessary but not sufficient condition goal
Explanation:
A necessary condition for a goal refers to a condition or factor that is mandatory to achieve a goal. For example, to obtain a bachelor's degree a necessary condition is to complete a bachelor's program. Besides this, a condition is sufficient if no other conditions are required, this applies to the previous condition as the main requirement for a bachelor's degree is to complete all the courses or program.
In this context, inspiring and motivating people in the goal of making an organization that can learn and adapt is a necessary condition because organizations require cooperation and group work and this is achieved if people of the organization feel inspired and motivated. However, this is not the only condition, and therefore it is not sufficient as other factors such as a budget, a clear plan, etc. are needed.
________, which indicates free enterprise in the hands of the self-employed, was a contributory factor to the economic growth of newly industrialized countries (NICs). Multiple Choice Entrepreneurship Expropriation Privatization Socialization Nationalization
Answer: entrepreneurship
Explanation:
Entrepreneurship is the act of running a business despite the risk involved with the aim of making profit. The role of entrepreneurship in every economy cannot be understated.
It is a contributory factor to the economic growth of newly industrialized countries as it provides job opportunities, brings about economic growth and increase in welfare to the people.
One operator services a bank of five machines. Machine running time and service time are both exponential. Machines run for an average of 74 minutes between service requirements, and service time averages 26 minutes. The operator receives $25 per hour in salary and fringe benefits, and machine downtime costs $78 per hour per machine.
If each machine produces 65 pieces per hour while running, find the average hourly output of each machine, when waiting and service times are taken into account.(Round your answer to 2 decimal places.)
Average hourly output ______________________ pieces
Answer:
Average hourly output is 13.14 pieces.
Explanation:
Number of machines at the bank N = 5
Average service time T = 26 min
Machine runs for an Average R = 74 min
Number of servers M = 1
Service Factor, X = T / (T+R)
= 26 / (26+74)
= 0.26
Efficiency Factor, F = 0.683
Average Number of machine running A = N * F * (1 - X)
= 5 * 0.683 * (1 - 0.26)
= 2.52
Output rate = 26 * (A / N)
= 26 * ( 2.52 / 5)
= 13.14 per hour.
Q 7.24: A small grocery store has three employees working each shift, but they only have one checkout register. Depending on which employee is available when a customer is ready to check out, all three employees use the same register at various times of the day. Which principle of control activities does this grocery store violate
When Alice is assigned to host a work party for 100 employees with a modest $200 budget, she needs to be innovative and imaginative. In order for Alice to host a successful work party, she will need to utilize _____ intelligence.
Answer:
Creative intelligence
Explanation:
From the information given:
For Alice to be successful in hosting the work party. She needs her innovation and imagination to be grounded with Creative Intelligence. Creative intelligence is an iterative process that contains three major steps. These are ; frame, create and deliver
Frame deals with understanding the concept i.e having an imagination of what your are about to carry out.
Create: This is where the ideas,views and perspectives comes into play with different innovations such as scalability of products , automation etcetera.
Deliver; The implementation and monitoring stage where all the aim, goals and objectives are being attained.
Most creativity is social, just like connecting the dots. As such creative intelligence lies by connecting with people.
If Alice can utilize the above steps of Creative Intelligence; she will host a successful work party for 100 employees with a modest $200 budget.
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type
Structural
Frictional
Cyclical
1. Teresa is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Francisco Bay Area.
Automobile demand has fallen during a recent recession, and Beth has been laid off from her job on the assembly line.
2. Sam recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work.
3. He continues to look for a job, but he's considering going back to school for vocational training. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Unemployment Type Rate
(Percent)
Frictional 1.1
Cyclical 0.0
Structural 3.2
Total unemployment 4.3
This economy is not currently at its natural rate of unemployment.
a. True
b. False
Answer:
1. Teresa is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Francisco Bay Area. - Frictional
Frictional unemployment consists of the people who are in between jobs. Teresa is in between jobs because she moved to California, but she is expected to find new employment soon.
Automobile demand has fallen during a recent recession, and Beth has been laid off from her job on the assembly line. - Cyclical
Cyclical unemployment increases when the economy is in recession, and decreases when the economy is growing. In this case, Beth has been laid off because the market for automobiles is experiencing a downturn, thus, he is in cyclical unemployment.
Sam recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. - Structural
Structural unemployment occurs when a person's skills are mismatched with market demand. Sam's skills are not productive enough for him to be hired at the current minimum wage or above, therefore, he will have to acquire more skills in order to be hired again by another firm. He is in structural unemployment.
This economy is not currently at its natural rate of unemployment. - b. False
The natural rate of unemployment occurs when there is no cyclical unemployment, and there is only frictional and structural unemployment. In this case, the unemployment rate is 0.0, meaning that the economy is at its natural rate of unemployment.
Your accountant tells you that if you can continue to earn the current interest rate on your balance of $750 for the next three years, you will have $944.78 in your account. If your accountant is correct, then what is the current interest rate
Answer: 8%
Explanation:
current balance = $750
Period = 3years
Final amount at the end of the third year = $944.78
Rate =?
Using the compound interest formula :
A = P( 1 + r/n)^nt
Where : A= final amount plus interest
P = principal amount
r = interest rate
t = period
n = number of compounding periods per year = 1
A = P( 1 + r)^t
944.78 = 750(1 + r)^3
Divide both side by 750
944.78/750 = (1+r)^3
1.2597 = (1+r)^3
Take the cube root of both sides
1.07999 = 1+r
r = 1.07999 - 1
r = 0.07999
r = (0.07999) * 100%
r = 7.999% = 8%
Valerie promises Teresa that she will pay Teresa $50 if Teresa will clean Valerie's house by noon on Saturday. If Teresa cleans the house by noon on Saturday and Valerie pays the $50, then this is an implied, bilateral, executory contract.
a) true
b) false
Answer:
b) false
Explanation:
This could be considered a bilateral and executory contract because both parties agreed to perform and exchange consideration in the future (in this case, Saturday). But it cannot be considered an implied contract.
E.g., an implied contract happens when you enter a movie theater and a commercial relationship is established where the movie theater must allow you to see a movie and you must pay your ticket for doing so. The same applies for other public places restaurants, theme parks, etc.
But in this case, Valerie's house is not a place where any person is free to attend. You cannot just go into Valerie's house and start cleaning so that she pays you $50.
Implied contracts might also result from previous performances, e.g. Teresa cleans Valerie's house every Saturday for almost 2 years now. The past performance might result in an implied contract, but this wouldn't be the case here either.
Juanita makes $30 an hour at work . She has to take time off work to purchase her suit, so each hour away from work costs her $30 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. Ignore the cost of gasoline and depreciation of her car when traveling.
Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location.
Store Opportunity Cost of Time (Dollars) Price of a Suit (Dollars per suit) Total Cost (Dollars)
Local Department Store ___________________ 114 _________
Across Town ___________________ 86 _________
Neighboring City ____________________ 60 _________
Assume that Juanita takes opportunity costs and the price of the suit into consideration when she shops. Juanita will minimize the cost of the suit of she buys it from the _____
Answer:
Juanita should purchase the suit at the store across town because the total economic cost will be lowest.
Explanation:
three options:
local store 15 minutes away and a price of $114across town 30 minutes away and a price of $86neighboring city 1 hour away and a price of $60Juanita makes $30 per hour at her work, and her purchase decision includes the opportunity cost of lost wages:
total economic cost:
local store = $114 + [1/4 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $144across town = $86 + [1/2 hours x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $131neighboring city = $60 + [1 hour x 2 (round trip) x $30] + (1/2 hours x $30 spent shopping) = $135Juanita should purchase the skirt at the store across town because the total economic cost will be lowest ($131)
Opportunity costs are the benefits lost or extra costs incurred for choosing one activity or investment over another alternative. Economic costs include both accounting costs and opportunity costs.
Based on the information given, the opportunity cost of time in the local department store will be $144.
Solving the opportunity cost.The opportunity cost of time across town will be:
= 1.5 × 30 = $45.
The total cost will be:
= $45 + $86 = $131
The opportunity cost of time in the neighboring city will be:
= 2.5 × 30 = $75
The total cost will be:
= $75 + $60 = $135
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In Appellia, it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons, and so on. The need for increasing resources is an example of
Answer:
diminishing returns to specialization
Explanation:
The law of diminising returns states that with each additional unit of input used in the production process, there will be a point at which additional unit of input will result in less output. Marginal output starts to decrease.
In the given scenario it takes 10 units of resources to increase its output of sugar from 12 tons to 13 tons, but 11 units of resources to increase output from 13 tons to 14 tons, and 12 units of resources to increase output from 14 tons and 15 tons.
There is need of 10 units of input to increase one unit of output, then we need 11 units to do the same, and finally 12 units to increase output by 1.
This is an example of how input increase loses efficacy and it is an example of diminishing returns to specialization.
A property buyer should object to any defects in the title to the property A) within one year of the transfer of title. B) before acceptance of the deed. C) before recording the deed from the seller. D) no later than 90 days of the recording of the deed from the seller.
The correct answer is B) Before acceptance of the deed.
Explanation:
The deed is a legal document that ratifies the ownership of a property; in this way, the document is used in the process of buying a property to show the buyer is the new owner. Besides this, once the deed is accepted and signed the property does not belong to the original owner, and therefore, she/he has not any responsibility related to the title. This means after the deed the buyer cannot object any defects in the title. Thus, any objections or new conditions in the process of buying the property should occur before acceptance of the deed.
A property buyer should object to any defects in the title of the property before the acceptance of deed leading to a contract. So, the correct option that matches with the above statement is B.
After the deed for such property has been accepted by both the parties the contract becomes valid from such date of acceptance. If any defect is to be objected, it would not bring into the seller's liability.
A contract becomes valid after it is accepted by both the parties to a contract and if there is any objection made after such acceptance it will not be void ab initio to the conditions of contract.The liability of the title of the property becomes transferrable in the hands of the buyer of the goods as soon as the conditions of the deed are fulfilled.The acceptance of the deed will be assumed by the seller to the defects been accepted by the buyer as it is the duty of the buyer to check all the factors of the property.Hence, the correct statement is B that the defects to the title of the property shall be able to be objected by the buyer only before the acceptance of such property.
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Jack,an HR manager at an electronics firm,has been informed that he needs to hire twenty technicians immediately.Which of the following would most likely be the best method for quickly attracting experienced technicians?
A) job fair
B) event recruiting
C) radio advertisement
D) newspaper advertisement
Answer: Radio advertisement
Explanation:
From the question, we are informed that Jack,an HR manager at an electronics firm, has been informed that he needs to hire twenty technicians immediately.
The best method to get quality technicians will be through advertising on radio. Through this method, a larger number of people will be reached and radio advertisement is usually effective.
Cajun Cookin' sits on a large landscaped lot. Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take care of the landscape. They pay $200 per month for this service. After two weeks had gone by with no service, Brian called the company only to find out that the owner and the crew had decided to take a vacation and would not be back to do the landscaping for another two weeks. Lovely Landscapes:
Options:
A.) has discharged its obligation to Brian.
B.) is liable for specific performance.
C.) will likely have to pay Brian damages if Brian decides to sue them.
D.) will not likely have to pay Brian damages if Brian decides to sue them.
Answer: C.) will likely have to pay Brian damages if Brian decides to sue them.
Explanation: According to the information presented in the scenario above, Lovely Landscapes are contracted to Brian and Soria and as such responsible for mowing the lawn of Brian's landscape. Lovely landscape's failure to show up or contact Brian and Soria explaining why they won't be able to fulfil their contract terms could be attached to a breach of contract which could involve Lovely Landscapes paying Brian and Soria damages for their no-show if Brian intends to pursue a case or sue Lovely landscapes.
A company bought new heating system for $42,000 and was given a trade-in of $2,000 on an old heating system, so the company paid $40,000 cash with the trade-in. The old system had an original cost of $37,000 and accumulated depreciation of $34,000. If the transaction has commercial substance, the company should record the new heating system at:
Major American car manufacturers are offering buying incentives to newly graduated college students who traditionally have little or no credit. Car manufacturers are using which of the following market modification strategies?
a) finding new users
b) increasing use by existing customers
c) modifying the product
d) creating new use situations
Answer:
a) finding new users
Explanation:
In this specific scenario, these car manufacturers are looking to find new users with these strategies. By providing these incentives the newly graduated college students are enticed by the offer since they want to buy a car but other manufacturers do not have these options to help the students finance their purchase. Therefore these students would choose these Major American car manufacturers thus becoming new users for them.
uan Perez, who is turning age 65 next month, intends to work for several more years at Smallcap, Incorporated. Smallcap has a workforce of 15 employees and offers employer-sponsored healthcare coverage. Juan is a naturalized citizen and has contributed to the Medicare system for over 20 years. Juan asks you if he will be entitled to Medicare and if he enrolls how that will impact his employer-sponsored healthcare coverage. How would you respond?
Answer:
The common requirements to qualify for Medicare are:
US citizen or permanent resident for at least 5 years.Currently receiving social security benefits or qualified to receive them in the futureYour spouse is employed by the government and he/she has paid Medicare payroll taxes.Apparently "J"uan Perez complies with them since he is a US citizen and has been contributing to Medicare for more than 20 years. Therefore, he should be eligible for it and Medicare would become his primary healthcare insurer. After Juan is enrolled in Medicare, his employer will no longer be required to provide sponsored health coverage.
Ted is risk manager of XYZ Company. He is concerned his company might be sued by current or former employees alleging wrongful termination, failure to promote, racial or gender discrimination, or sexual harassment. What type of liability insurance can Ted purchase to cover these types of claims
Answer: Employment-related practices liability insurance
Explanation:
Employment practices liability is a law that deals with wrongful termination, discrimination, sexual harrassment issues, invasion of privacy, breach of contracg, work time violations.
This rule was introduced to help employees to be able to have a say when being abused by their employers and also to help employees not to ride on employees but respect their choice of working for them, failure to do so on the side of each party would draw this law into action.
Q 8.25: Both Fowler Landscaping and Stanley Cleaning Services have estimated their uncollectible accounts for 2018 to be $3,500. In addition, both companies use the allowance method for uncollectible accounts. If Stanley Cleaning Services has to record a larger adjusting entry for their Allowance for Doubtful Accounts account at the end of 2017, what can you assume about the balance of the Allowance for Doubtful Accounts account for each company
Answer:
If both companies have similar bad debt expenses, but the adjustment entries vary, that means that the ending balances (for 2017) of the allowance for doubtful accounts was different.
Explanation:
For example, the ending balances (2017) for the allowance for doubtful accounts for both firms were:
Fowler Landscaping: $500 debit balance
Stanley Cleaning Services: $500 credit balance
the adjustment entry for Fowler Landscaping:
December 31, adjustment entry for bad debt expense
Dr Bad debt expense 4,000
Cr Allowance for doubtful accounts 4,000
the adjustment entry for Stanley Cleaning Services:
December 31, adjustment entry for bad debt expense
Dr Bad debt expense 3,000
Cr Allowance for doubtful accounts 3,000
QUESTION 1
All of the following are barriers to entering global markets EXCEPT:
A. Protectionism
B. Restrictions on trans-border data flow
C. Protection of intellectual property
D. FDA regulations on imported products
E. Cultural barriers and adaptation
Help ASAP!!!!!
Answer:
D. FDA regulations on imported products
Explanation:
The barriers to entering global markets are; protectionism, restrictions on trans-border data flow, protection of intellectual property and cultural barriers and languages. Most counties that uses the aforementioned does so basically to protect their home industries from foreign competition and also to safeguard the interest and wellbeing of its citizenry. However, no country can stand on its own as countries have comparative advantages over each other in production of certain products.
With regards to the above, FDA(food and drug adminstration) regulations on imported product is not a barrier to entering global market. FDA are body that makes regulations that all imported products must meet the same standard as the local goods hence must be safe to eat, pure, wholesome and manufactured under clean conditions. It also state that drugs, cosmetics must be produced from approved materials hence must meet standards already established by the board. They are basic requirements that must be meet before foreign products are allowed into the country.
Windsor, Inc. just took its physical inventory. The count of inventory items on hand at the company’s business locations resulted in a total inventory cost of $301,000. In reviewing the details of the count and related inventory transactions, you have discovered the following tems that had not been considered.
1. Dobler has sent inventory costing $29,120 on consignment to Phillips Company. All of this inventory was at Phillips’s showrooms on December 31.
2. The company did not include in the count inventory (cost, $20,800) that was sold on December 28, terms FOB shipping point. The goods were in transit on December 31.
3. The company did not include in the count inventory (cost, $13,520) that was purchased with terms of FOB shipping point. The goods were in transit on December 31.
Compute the correct December 31 inventory.
Answer:
Actual Inventory $ 343640
Explanation:
FOB Shipping point means as soon as the goods are sold they are the buyer's property and must be excluded from the inventory.
FOB destination means that the goods are the seller's property and responsibility unless the goods reach the destination. They are included in the seller inventory unless the buyer gets them.
Inventory sent on consignment is also counted in the cosigner's inventory.
The inventory costing $20,800 that was sold on December 28, terms FOB shipping point will not be included in the seller's inventory. They are now the buyer's responsibility.
Windsor, Inc
Inventory Stock Count on 31 Dec $301,000
Add inventory sent on consignment $29,120
Add Inventory purchased FOB shipping $13,520
Actual Inventory $ 343640
A company is evaluating the use of insurance to mitigate its risk in the event of a market downturn. The company estimates that it has a total risk of 20% impact to its net income if a market downturn occurs, and the company currently has a net income of $150,000. At what cost should the company take out insurance to mitigate this risk?
Available Options are:
a. $25,000 premium
b. $100,000 premium
c. $150,000 premium
d. $200,000 premium or above
Answer:
Option A. $25,000 Premium
Explanation:
The risk of loosing 20% of the company net income would be = $150,000 * 20% = $30,000
Now this is the highest cost the company could bear to insure the 20% downturn in the market. The cost below $30,000 amount available in the option is $25,000 is the right option here.
Hence Option A is correct.
________________ focuses on explaining the differences between planned and actual contribution margins. a.Contribution margin analysis b.The unit cost factor c.The quantity factor d.The unit price factor
Answer: A.) Contribution Margin analysis
Explanation: The contribution margin analysis could be explained as an analytical tool in accounting which helps managers in observing variation or differences in the budgeted and actual contribution margin of a product. The contribution margin is used to determine the revenue made on a product after deducting the fixed cost incurred in it's production. It is also used to evaluate the performance of individual product derived from the amount of residual profit after deducting necessary production cost.
Accrual basis accounting recognizes ___ (equity/revenues/expenses) when the service or product is delivered and records ___ (revenues/expenses/liabilities) when ___ (incurred/paid) in order to adhere to the matching principle.
Answer: revenues ; expenses ; incurred
Explanation: Accrual basis of accounting from the english word 'accrue' means accumulation or gathering over a certain period of time. Hence, when investments, purchases are gathered or compiled over a certain time period.
In other to adhere to the matching principle under accrual basis of accounting :
Revenues should be recorded once the service or product is earned or delivered and not until when cash is paid. Expenses are recorded correspondingly irrespective of when the cash is paid out. Therefore, in accrual accounting, once obligation or expenses is incurred, expenses is recorded.
Item 28Item 28According to the _________ concept, a firm must (1) find out what customers want and provide it, (2) make sure everyone in the organization has customer satisfaction as an objective, and (3) provide goods and services that will earn a profit.
Answer:
Marketing concept.
Explanation:
The marketing concept can be defined as a concept which suggests a firm to examine the needs of customers, satisfy their needs, and work to earn profit. The concept of marketing emerged after the World War 2 when customers had a choice to buy a certain product that meet their changing needs.
There are five types of marketing concepts.
The Production ConceptThe Product ConceptThe Selling ConceptThe Marketing ConceptThe Societal Marketing ConceptSo, the correct answer is that it is the marketing concept that performs the stated functions.
Wendy has had a life insurance policy for five years with her spouse listed as the person who receives the benefit if she dies. She was recently divorced. Which of the following provisions should she take action on?
a) Incontestability clause
b) Misstatement of age provision
c) Naming a beneficiary
d) Policy reinstatement
e) The grace period
Answer:
Option C
Explanation:
In simple words, A designated beneficiary , often termed as named beneficiary, refers to a person who is stipulated by a signed legal contract and who has the right to receive money from a fund, insurance fund, pension scheme account, IRA, or some other digital currency. By the point of transaction several designated owners of a single property would share in the profits.
Which type of inflation occurs when prices are high, then drop due to lower demand, and then are restored to a previous high level? a) hyperinflation b) disinflation c) inflation d) reflation
Answer:
Reflation
Explanation:
The type of inflation which occurs when prices are high, then drop due to lower demand, and then are restored to a previous high level is known to be as reflation Option(d) is correct generally and actually.
What does Reflation means?Reflation is utilized to portray an arrival of costs to a past pace of expansion.
One use portrays a demonstration of invigorating the economy by expanding the cash supply or by diminishing expenses, looking to bring the economy explicitly the cost level back up to the drawn out pattern.
In this point of view, reflation, is diverged from expansion (barely talking) over the some drawn out pattern line, while reflation is a recuperation of the cost level when it has fallen beneath the pattern line.
For instance, on the off chance that expansion had been running at a 3% rate, yet for one year it tumbles to 0%, the next year would require 6% expansion (really 6.09% because of building) to get back up to the drawn out pattern. This higher than typical expansion is viewed as reflation, since it is a re-visitation of pattern, not surpassing the drawn out pattern.
This qualification is predicated on a hypothesis that financial development, where there is long haul development in the economy and cost level, is both feasible and alluring. Similarly as disinflation is viewed as an adequate remedy to high expansion, reflation is viewed as a cure to flattening.
Therefore Option(d) is correct.
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A parent company is a company that ________. A. has any level of investment in another company B. is controlled by another corporation C. is the first to begin operations in an industry D. owns a controlling interest in another company
_____________which refers to a process that continuously identifies, understands, and adapts outstanding processes found inside and outside an organization. Well-run organizations compare not only against competitors (where possible) but against best-in-class organizations as well.
Answer:
Benchmarking.
Explanation:
Benchmarking refers to a process that continuously identifies, understands, and adapts outstanding processes found inside and outside an organization. Well-run organizations compare not only against competitors (where possible) but against best-in-class organizations as well.
This ultimately implies that, benchmarks are used to measure a firm's products, services, or processes performance in comparison with another business firm that are considered or assumed to be the best in that industry.
Hence, many business firms use benchmarking as a tool to identify and explore opportunities lying within them (internal opportunities).
The campus barber faces stiff competition from the large number of shops that surround the campus area, and for all practical purposes the market is perfectly competitive. He charges $10 for a haircut and cuts hair for 18 people a day. His shop is open for 5 days a week.
Calculate his weekly total revenue $__.
Calculate his average revenue per haircut $__.
Calculate his marginal revenue per haircut. $__.
Answer:
$900
$10
$10
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In a perfect competition, price = marginal revenue = average revenue
if price is $10, marginal and average revenue is $10.
total revenue = price per haircut x total number of people he attends to in a week.
total number of people he attends to in a week = 18 x 5 = 90
Total revenue = $10 x 90 = $900
Frames, Inc. manufactures large wooden picture frames. Each frame requires $19 of direct materials and $40 of direct labor. Variable manufacturing overhead cost is $9 per frame produced, and variable selling and administrative expense is $13 per frame sold. The company produces 5,000 units each month and total fixed manufacturing overhead cost per month is $15,000. The unit product cost of each frame using variable costing is:_______.
Answer:
Unitary production cost= $68
Explanation:
Giving the following information:
Each frame requires $19 of direct materials and $40 of direct labor. Variable manufacturing overhead cost is $9 per frame produced.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Unitary production cost= 19 + 40 + 9= $68
A customer opens a long margin account with only 1 position, consisting of 100 shares of ABC stock valued at $20 per share. There is no debit balance in the account. If the customer buys 100 shares of XYZ at $60 per share, the margin call will be
Answer:
The margin call will be $6,000.
Explanation:
Since there is no debit balance in the customer's margin account, it implies that the customer is not owing the broker on margin. The additional purchase of the 100 shares of XYZ necessitates the margin call by the broker for the customer to fund his margin account by paying additional funds worth $6,000 to cover the purchase of XYZ shares by the broker on his behalf.
A margin account is an account maintained by a broker on behalf of his customer through which the customer is able to buy and sell securities using his own funds and the broker's. The implication is that the customer's equity in the account is equal to the market value of the securities minus the borrowed funds from the broker.