Countries like China and other developed economies are in the Neo classical zone. What is the best option for these countries to sustain their economies?
a.
Decrease aggregate demand
b.
Increase aggregate supply
c.
Move back to Keynesian Zone
d.
Move back to intermediate zone
Answer:
c. Move back to Keynesian Zone
Explanation:
The Keynesian zone is a model that states the stable level of GDP is far from potential GDP and that economy is in a period of recession. Unemployment is high and the demands shift from the right to left of the curve. It can be determined by the level of output and employment. The Neoclassical zone will occur when the right side of the curve is fairly vertical, a rise in demand will affect the process but will indirectly impact the output.Exercise 3-1 Prepare Journal Entries [LO3-1] Larned Corporation recorded the following transactions for the just completed month. $75,000 in raw materials were purchased on account. $73,000 in raw materials were used in production. Of this amount, $59,000 was for direct materials and the remainder was for indirect materials. Total labor wages of $116,000 were paid in cash. Of this amount, $102,000 was for direct labor and the remainder was for indirect labor. Depreciation of $194,000 was incurred on factory equipment.
Answer:
Journal 1
Debit : Raw Materials $75,000
Credit : Accounts Payable $75,000
Journal 2
Debit : Work In Process - Direct Materials $59,000
Debit : Work In Process - Indirect Materials $14,000
Credit : Raw Materials $73,000
Journal 3
Debit : Work In Process - Direct Labor $102,000
Debit : Work In Process - Indirect Labor $14,000
Credit : Cash $116,000
Journal 4
Debit : Work in Process - Depreciation expense $194,000
Credit : Accumulated Depreciation $194,000
Explanation:
All costs incurred during production are recorded on the debit of the work in process account as shown above.
As the question says just provide modalities for compensating the victims of the accident. Do not try to attribute reasons for the cause of the accident, i.e. who is wrong or responsible for the accident. Try to come up with the various kinds of victims and decide what they get. To say that everybody that was killed should get the same amount is not realistic. Think about the families of those involved in September 11 disaster. Did all the families get the same amount?
Answer:
No, all families cannot get the same amount of compensation as this is dependent on the loss of the misfortune family.
Explanation:
The amount of compensation for the victims of September 11 disaster should be different for every person. The number of family members will be different for every victim. The compensation is based on the number of dependents of the victim family and those are paid high compensation who have their widows and children left behind.
Synovec Corp. is experiencing rapid growth. Dividends are expected to grow at 25 percent per year during the next three years, 15 percent over the following year, and then 6 percent per year, indefinitely. The required return on this stock is 12 percent and the stock currently sells for $94 per share. What is the projected dividend for the coming year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
$26.86
Explanation:
Calculation to determine the projected dividend for the coming year
First step is to calculate the Dividend(D0)=
D0 = $94 * 0.12
Dividend(D0)= $11.28
Second step is to calculate the Expected Dividend growth rate for 3 years (D3) using this formula
Expected Dividend growth rate for 3 years (D3) =D0 (1+g)
Let plug in the formula
D3=$11.28* (1+0.25)^3
D3=$22.03125
Third step is to calculate Dividend in 4th year(D4
Dividend in 4th year(D4)=$22.03125 *1.15
D4 =$25.3359
Now let calculate the Dividend in 5th year(D5
Dividend in 5th year(D5)=$25.3359 * 1.06
Dividend in 5th year(D5)=$26.86
Therefore the Projected Dividend for the coming year will be $26.86
During 2022 Swifty Corporation had sales on account of $765000, cash sales of $312000, and collections on account of $512000. In addition, they collected $8900 which had been written off as uncollectible in 2021. As a result of these transactions the change in the accounts receivable indicates a $244100 increase. $568000 increase. $565000 increase. $253000 increase.
Answer:
$253,000 increase
Explanation:
With regards to the above, there would be an increase in transaction. See computation below;
Given that;
Sales on account = $765,000
Collections on account = $512,000
Then,
The change in account receivables would be;
= Sales on account - Collections on account
= $765,000 - $512,000
= $253,000 increase.
Suppose that the cross price elasticity of demand between movie tickets and popcorn is −0.10. What would you expect to happen to the sales of popcorn if the price of movie tickets rises by 30 percent? The demand for popcorn would fall fall rise by 33 percent (Enter your response rounded to one decimal place.)
Answer:
fall
3%
Explanation:
The foreign exchange market is a market for converting the currency of one country into that of another country.
a. True
b. False
Answer:
a. True
Explanation:
The foreign exchange market is a market for converting the currency of one country into that of another country.
For example, the conversion of dollars of the United States of America can be converted into naira (Nigeria) at the foreign exchange market.
Efficient market school is the market school which argues that forward exchange rates do the best possible job for forecasting future spot exchange rates, so investing in exchange rate forecasting services would be a waste of time because it is impossible to have a consistent alpha generation on a risk adjusted excess returns basis as market prices are only affected by new informations.
The efficient market school also known as the efficient market hypothesis (EMH) is a hypothesis that states that asset (share) prices reflect all information and it is very much impossible to consistently beat the market.
Also, forward exchange rates are exchange rates controlling foreign exchange transactions at a specific future date or time.
Barbur, Inc. reported net income of $20.35 million. During the year the average number of common shares outstanding was 3.7 million. The price of a share of common stock at the end of the year was $5. There were 680,000 shares of preferred stock outstanding on average and no dividends were declared and the preferred stock is non-cumulative.
1A. Use the information above, the EPS is approximately:_____.
a. $0.40.b. $1.76.c. $1.86.d. $2.00.
1B. Use the information above, the Price/Earnings ratio is approximately:_____.a. 2.00.b. 2.50.c. 2.84.d. 12.50.
Answer and Explanation:
The computation is shown below:
a. EPS = Net income ÷ Outstanding shares
= $20,350,000 ÷ 3,700,000 shares
= $5.50 per share
b. Price/Earnings ratio = Price of common stock ÷ EPS
= $5 ÷ $5.50
= 0.9091
Hence, the above represent the answer and the options that are given are incorrect
Tambe Electric entered into a written agreement with Home Depot to provide copper wire to Tambe at a price set forth in the writing, and allowed the contractor the option of paying for the wire over a period of time. Tambe later tried to purchase such wire on a payment plan but Home Depot refused. As Home Depot did not fulfill this written agreement, Tambe sued for $68,000, the additional cost it had to subsequently pay to obtain copper wire for its work. Home Depot defended that it had made an oral condition precedent requiring payment in full by Tambe at the time it accepted the price quote in the written agreement. The result is that:_________
Answer:
Tambe will win.
Explanation:
The Statue of Frauds requires that contracts over $500 are written, and both companies had a written contract. Home Depot later argues that they had orally agreed to modify the written contract. That modification will not hold since it cannot contradict the written contract. In order to legally modify a written contract, you must do it in writing, not orally.
53) In the current year, Borden Corporation had sales of $2,000,000 and cost of goods sold of $1,200,000. Borden expects returns in the following year to equal 8% of sales. The unadjusted balance in Inventory Returns Estimated is a debit of $6,000, and the unadjusted balance in Sales Refund Payable is a credit of $10,000. The adjusting entry or entries to record the expected sales returns is (are):
Answer: See explanation
Explanation:
The adjusting entry or entries to record the expected sales returns are:
Debit: sales return and allowance = $150,000
Credit: Sales refund payable = $150,000
The above $150,000 was gotten as:
= ($2,000,000 × 8%) - $10,000
= ($2,000,000 × 0.08) - $10,000
= $160,000 - $10,000
= $150,000
Also,
Debit: Inventory returns estimated = $90,000
Credit: Cost of goods sold = $90,000
The above $90,000 was gotten as:
= ($1,200,000 × 8%) - $6,000
= ($1,200,000 × 0.08) - $6,000
= $96,000 - $6,000
= $90,000
Bank Reconciliation and Related Journal entries.
The book balance in the checking account of Lyle's Salon as of November 30 is $3,292.08. The bank statement shows an ending balance of $2,118.00. By examining last month's bank reconciliation, comparing the deposits and checks written per books and per bank in November, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found:
A) An ATM withdrawal of $150 on November 18 by Lyle for personal use was not recorded on the books.
B) A bank debit memo issued for an NSF check from a customer of $19.50.
C) A bank credit memo issued for interest of $19 earned during the month.
D) On November 30, a deposit of $1,177 was made, which is not shown on the bank statement.
E) A bank debit memo issued for $17.50 for bank service charges.
F) Checks No. 549, 561, and 562 for the amounts of $185, $21, and $9.40, respectively, were written during November but have not yet been received by the bank.
G) The reconciliation from the previous month showed outstanding checks totaling $271.95. One of those checks, No. 471 for $18.65, has not yet been received by the bank.
H) Check No. 523 written to a creditor in the amount of $372.90 was recorded in the books as $327.90.
Required:
1. Prepare a bank reconciliation as of November 30.
2. Prepare the required journals entries.
Answer:
Cash (Dr.) $19
Interest Revenue (Cr.) $19
Cash (Dr.) $150
Bank (Cr.) $150
Bank Charges (Dr.) $17.50
Cash (Cr.) $17.50
Explanation:
Bank Reconciliation Statement
Balance as per Bank statement $2,118.00
Less: ATM withdrawals $150
Less: Bank debit memo $19.50
Add: Interest Earned $19
Add: Deposits $1,177
Less: Bank service Charges $17.50
Less: Checks no.549 not presented $185
Less: Checks no.561 not presented $21
Less: Checks no.562 not presented $9.40
Less: Outstanding Checks $271.95
Add: Error in recording $45
Adjusted balance for the reconciliation $2,684.65
TVLand sells home entertainment systems and also offers a complementary installation service. The same service is offered by other vendors for $50 on average, and TVLand typically charges approximately 40% more than other vendors for similar services on a stand-alone basis. Using the adjusted market assessment approach, the stand-alone selling price of the installation service is:
Answer:
$70
Explanation:
Calculation to determine what the stand-alone selling price of the installation service is:
Stand-alone selling price= $50 + (40%*$50)
Stand-alone selling price=$50+$20
Stand-alone selling price= $70
Therefore the stand-alone selling price of the installation service is:$70
Posting to T-Accounts Post the amounts for the following transactions (a) through (f) to the appropriate T-accounts.
a. Receive merchandise inventory costing $9,000, purchased with cash.
b. Sell half of inventory in (a) for $7,500 on credit.
c. Place order for $5,000 of additional merchandise inventory to be delivered next month.
d. Pay employee $4,000 for compensation earned during the month.
e. Pay $7,000 rent for use of premises during the month.
f. Receive full payment from customer in part (b).
Answer:
T-accounts
Cash Account
Account Titles Debit Credit
a. Inventory $9,000
d. Salaries Expense 4,000
e. Rent Expense 7,000
f. Sales Revenue $7,500
Inventory
Account Titles Debit Credit
a. Cash $9,000
b. Cost of goods sold $4,500
Cost of Goods Sold
Account Titles Debit Credit
b. Inventory $4,500
Accounts Receivable
Account Titles Debit Credit
b. Sales revenue $7,500
f. Cash $7,500
Sales Revenue
Account Titles Debit Credit
b. Accounts receivable $7,500
Salaries Expense
Account Titles Debit Credit
d. Cash $4,000
Rent Expense
Account Titles Debit Credit
e. Cash $7,000
Explanation:
a) Data and Analysis:
a. Inventory $9,000 Cash $9,000
b. Cost of goods sold $4,500 Inventory $4,500
b. Accounts receivable $7,500 Sales revenue $7,500
c. No effect.
d. Salaries Expense $4,000 Cash $4,000
e. Rent Expense $7,000 Cash $7,000
f. Cash $7,500 Accounts receivable $7,500
Journalize the following transactions for the Evans Company. Assume the company uses a perpetual inventory system.
a. Sold merchandise for $645 cash. The cost of goods sold was $375.
b. Sold merchandise for $432 and accepted VISA as the form of payment. The cost of goods sold was $195.
c. Sold merchandise on account for $670. The cost of goods sold was $438.
d. Paid credit card fees for the month of $85.If an amount box does not require an entry, leave it blank.
Answer:
Evans Company
General Journal
Part a.
Debit : Cash $645
Debit : Cost of goods sold $375
Credit : Sales Revenue $645
Credit : Merchandise $375
Part b.
Debit : Cash $432
Debit : Cost of goods sold $195
Credit : Sales Revenue $432
Credit : Merchandise $195
Part c.
Debit : Accounts Receivable $670
Debit : Cost of goods sold $438
Credit : Sales Revenue $670
Credit : Merchandise $438
Part d.
Debit : Credit Card fees $85
Credit : Cash $85
Explanation:
The Perpetual inventory system calculates the cost of sale and inventory balance on each and every sale made hence the journals above.
Milliken Company paid $3.00 million to purchase stock in another company, $1.40 million to repurchase treasury shares, $1.50 million to buy short-term investments, sold used equipment for $0.84 million when its book value was $1.20 million, and purchased new equipment for $3.8 million. What was the net cash flow from investing activities
Answer:
Net cash flow from investing activities is -$7.46 million.
Explanation:
Cash Flow from Investing Activities refers to the section of the cash flow statement of an organisation that shows the amount that been utilized in or made from making investments durin a particular accounting period. Examples of investing activities are purchases and sales of investments, long-term assets like property, plant, and equipment, etc.
Net cash flow from investing activities for Milliken Company can be calculated as follows:
Milliken Company
Calculation of net cash flow from investing activities
Details Amount ($'million)
Purchase stock in another company (3.00)
Buy short-term investments (1.50)
Sold used equipment 0.84
Purchased new equipment (3.80)
Net cash flow from investing activities (7.46)
Therefore, net cash flow from investing activities is -$7.46 million.
Alvis Construction Supply Company has a department that manufactures wood trusses (wood frames used in the construction industry). The following information is for the production of these trusses for the month of February:
Work-in-process inventory, February 1 4,000 trusses
Direct materials: 100% complete $10,480
Conversion: 20% complete $15,258
Units started during February 18,000 trusses
Units completed during February and transferred out 17,000 trusses
Work-in-process inventory, February 29
Direct materials: 100% complete
Conversion: 40% complete
Costs incurred during February
Direct materials $59,040
Conversion $92,092
Required:
Using the FIFO method, calculate the following:
1. Costs per equivalent unit.
2. Cost of goods completed and transferred out.
3. Cost remaining in the ending work-in-process inventory.
Answer:
Part 1
M = $3.28
C = $5.06
Part 2
$141,780
Part 3
$26,520
Explanation:
1. Costs per equivalent unit.
Step 1 ; Equivalent units
Materials = 4,000 x 0 % + 13,000 x 100 % + 5,000 x 100 % = 18,000 units
Conversion Costs = 4,000 x 80 % + 13,000 x 100 % + 5,000 x 40 % = 18,200 units
Step 2 : Cost per Equivalent units
Materials = $59,040 / 18,000 units = $3.28
Conversion Costs = $92,092 / 18,200 units = $5.06
Total = $3.28 + $5.06 = $8.34
2. Cost of goods completed and transferred out.
Cost of goods completed and transferred out = 17,000 trusses x $8.34 = $141,780
3. Cost remaining in the ending work-in-process inventory.
Ending work-in-process inventory = $3.28 x 5,000 + $5.06 x 2,000 = $26,520
Cost of manufacturing is the total cost incurred by the manufacturing unit or the entire department for the production of goods. It is classified into three main categories: direct material cost, direct labor cost, and manufacturing overhead.
Using the FIFO method, the answers are:
1. Cost per equivalent unit:
For the material is $3.28
For the conversion is $5.06
2. Cost of goods completed and transferred out is $141,780
3. Cost remaining in the ending work-in-process inventory is $26,520
Computations:
1. Cost per equivalent unit:
Material:
[tex]\begin{aligned}\text{Cost per equivalent unit}&=\frac{\text{Total Cost}}{\text{Equivalent Units}}\\&=\frac{\$59,040}{18,000\;\text{units}}\\&=\$3.28\end{aligned}[/tex]
Conversion:
[tex]\begin{aligned}\text{Cost per equivalent unit}&=\frac{\text{Total Cost}}{\text{Equivalent Units}}\\&=\frac{\$92,092}{18,200\;\text{units}}\\&=\$5.06\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total cost per equivalent unit}&=\text{Cost per unit for material}+\text{Cost per unit for conversion}\\&=\$3.28+\$5.06\\&=\$8.34\end{aligned}[/tex]
2. Cost of goods completed and transferred out:
[tex]\begin{aligned}\text{Cost of goods completed}&=\text{Units Completed}\times\text{Total Cost of equivalent units}\\&=17,000\;\text{trusses}\times\$8.34\\&=\$141,780\end{aligned}[/tex]
3. Cost of remaining ending work in process inventory:
[tex]\begin{aligned}\text{Ending Work in Process Inventory}&=[\left( \text{Costs per equivalent unit for material}\times\text{Units}\right )\\&+\left( \text{Costs per equivalent unit for conversion}\times\text{Units}\right )]\\&=\left(\$3.28\times5,000\;\text{units}\right )+\left(\$5.06\times2,000\;\text{units} \right ) \\&=\$26,520\end{aligned}[/tex]
To know more about the cost of manufacturing, refer to the link:
https://brainly.com/question/17111259
consider ktu as a production system in which the final product is graduate for this
a) define quality form the producers and consumers perspective
b) develop fitness for use description for final product quality
c) give examples of the cost of poor quality ( internal and and external failure cost ) and the cost of quality assurance ( prevention and appraisal) costs.
Applying the Cost of Goods Sold Model The following amounts were obtained from Stanwick Company's accounting records. 2019 2020 Net sales $388,600 $427,460 Cost of goods sold: Beginning inventory $36,800 (d) Purchases (a) 296,700 Goods available for sale (b) (e) Ending inventory 42,060 (f) Cost of goods sold (c) 295,390 Gross margin $117,960 (g)
Answer:
See below
Explanation:
2020 Beginning inventory
Beginning inventory
Add: Purchases
$296,700
Cost of goods available for sale
$296,700
Less: Ending inventory
($1,310)
Cos of goods sold
$295,390
2019 Purchases
Purchases = Ending inventory - Beginning inventory
Purchases = $42,060 - $36,800
Purchases = $5,260
Which phrase best completes the list?
Characteristics of Short-Term Savings Strategies
Earn low rates of interest
Include savings accounts at banks
?
O A. Are used mostly for retirement savings
O B. Are used to pay for expenses as they arise
O C. Include keeping money in your home
O D. Have a high risk of losing initial investments
Answer:
B
Explanation:
The Characteristics of Short-Term Savings Strategies Earn low rates of interest Include savings accounts at banks are used to pay for expenses as they arise. The correct option is (B).
What do you mean by the Short term savings?Short-term objectives typically have a five-year time frame. With a specific objective in mind or to establish a safety net in case an unforeseen expense arises, you might open a short-term savings account. Examples of short-term objectives a reserve account.
Depending on the investment firm, short-term investments typically offer an investment period of less than a year. This benefit is strongly connected to benefit. You can withdraw from short-term investments at any time, especially in an emergency, due to their flexibility.
Marketable securities, commonly referred to as temporary investments or short-term investments, are financial investments that can be quickly converted to cash, usually within five years.
Therefore, the Characteristics of Short-Term Savings Strategies Earn low rates of interest Include savings accounts at banks are used to pay for expenses as they arise.
To know more about the Short term savings, visit:
https://brainly.com/question/10206346
#SPJ2
Keystone, Inc., replaced its truck-and-dolley system of moving inventory around its plant with a computer-controlled conveyor system. The costs associated with this equipment replacement were as follows: Purchase price of conveyor system$1,300,000 Book value of truck-and-dolley system50,000 Installation cost of new conveyor system85,000 The truck-and-dolley system was sold for scrap for $70,000. What value should be capitalized to the balance sheet of Keystone, Inc., as the cost basis of the new conveyor system
Answer: See explanation
Explanation:
The cost basis for the new conveyor system will be:
Purchase price = $1,300,000
Add : Installation cost = $85,000
Therefore, Cost of new conveyor system will be:
= $1,300,000 + $85,000
= $1,385,000
The gain on the sale of old truck will be $70000 - $50000 = $20,000 whcinwill be credited to the income statement.
The following scenario applies to the next three questions. At the start of the current period, Alberich Jewelers had an inventory of three identical gold rings. The cost of the gold ring purchased first is $640, the gold ring purchased next had a cost of $720, and the most recent purchase had a cost of $750. During the current period one of the gold rings was sold for $1,400. Alberich expects this gold ring will be a fast seller and he is thinking about ordering more of the same model for $780 each. If Alberich elects the FIFO method of inventory, after selling one ring for $1,400, compute the gross profit he should report. Post your response without any special characters. So an answer of $1,000 would be expressed as 1000
Answer:
Alberich Jewelers
The gross profit that Alberich should report is 760.
Explanation:
a) Data and Calculations:
Cost of gold ring purchased first = $640
Cost of gold ring purchased next = $720
Cost of gold ring purchased recently = $750
Sale of one gold ring = $1,400
Using the FIFO method of inventory, the gross profit for the gold ring sold is based on the first gold ring purchased, as follows:
= Sales Revenue - FIFO cost of inventory
= $1,400 - $640
= $760
Consider each argument for limiting international trade:
The national security argument suggests that national security requires that strategically important goods be produced domestically.
The infant industry argument suggests that protection can help infant industries develop.
The unfair competition argument suggests that anti‑dumping laws prevent unfair competition.
The fair standards argument suggests that trade should not enable firms to skirt regulations.
Determine which argument each statement is related to and whether the statement supports or opposes the argument.
a. "Industries that are protected from foreign competition often never develop to a point where they can compete internationally." This statement _________the ______________argument.
b. 'If foreign importers do not meet U.S. requirements regarding child labor, safety, and the environment, they will have an unfair cost advantage over domestic firms." This statement ___________ the________ argument.
Answer:
a. opposes the infant industry argument.
b. supports the fair standard arguments.
Explanation:
The companies are regulated by the standards. There are certain standards which businesses need to follow in order to achieve regulatory compliance. The companies are regulated but there should be fair competition which enables firms to promote healthy competition in order to develop their business.
Digital Prosper, a web services firm, has experienced a 7 percent decline in revenues in consecutive quarters. In an effort to reduce operating costs, managers reduced the customer service staff from 12 employees to 6. Management also enlisted the remaining employees to help produce a new company vision: to give customers of all budgets a customizable, stress-free web hosting experience. What is wrong with this scenario
Answer: c. Digital Prosper's organizational structures do not align with the vision.
Explanation:
Digital Prosper have reduced their staff by 50% and yet go on to advertise through their vision, that they are able to cater for all types of customers regardless of their budgets.
This purpose of this vision is to bring in more customers and if it succeeds, the remaining employees in customer service will be swamped with work. This might lead to the employees being inefficient thereby creating stress for the customers.
The organizational structure of Digital Prosper therefore does not align with the vision.
Answer:
Marigold's organizational structures do not align with the vision
Explanation:
The internal stakeholders would be designers, manufacturing, assembly, etc here the internal stockholder would be invested that defines the vision so here the organizational structure would not be aligned with the vision as they attempt to provide the better service for the customer as half the originial staff
In most restaurants, waiters receive a large portion of their compensation through tips from customers. Generally, the size of the tip is decided by the customers. However, many restaurants receive a 15% tip for parties of eight or more. Using the concept from this chapter, discuss (a) why the practice of tipping has emerged as a major method of compensating the wait staff, (b) why the customer typically decide on the amount of the tip, and (c) why restaurants require tips from large parties
Answer:
a) tipping is seen as a reward for a good service provided. It is also a way of passing labor costs directly to the customer, which increases the restaurants' profits.
b) generally, most restaurant charge a fixed fee for tips. Maybe in the past customers could decide the tip, but that is not true now for most places. Although, customers are better judges of the service that they receive. By the way, the 15% is the minimum tip, customers can choose to increase that amount.
c) if the restaurants did not require tips, their labor costs would increase significantly.
Explanation:
what do you understand by marketing mix
Explanation:
When I think about the term marketing mix, I think about a set of tools that firms use to increase their profits such as price, product, promotion and place.
A firm with two factories one in Michigan and one in Texas has decided that it should produce a total of 500 units of output in order to maximize profit. The firm is currently producing 200 units in the Michigan factory and 300 units in the Texas factory. At this allocation between plans the last units of output produced in Michigan added $5 to total cost while the last units of output products in Texas added $3 to total the firm
a. is maximizing profit should keep producing 200 units in Michigan and 300 units in Texas
b. should produce 250 units in each factory
c. should produce more in the Michigan factory and less in the Texas factory
d. should produce more in the Texas factory and less in the Michigan factory
Answer: d. should produce more in the Texas factory and less in the Michigan factory
Explanation:
A company stands to benefit more if it produces at less cost because then it can produce more goods or rather make more profit.
This company is is spending $3 to make an additional unit in Texas than in Michigan where it is spending $5.
It is spending less in Texas and should therefore shift more production to Texas so that it can spend even less when producing and therefore become more profitable.
which body develops independence rules that apply to engagements performed under gagas?
Answer:
The Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as the "Yellow Book", are produced in the United States by the Government Accountability Office (GAO). The standards apply to both financial and performance audits of government agencies. Five general standards are included: Independence.
Explanation:
looked up in internet :)
LOL :) Brainliest please
Government Accountability Office (GAO) is the body that develops independence rules that apply to engagements performed under gagas.
The following information should be considered;
The Generally Accepted Government Auditing Standards (GAGAS), commonly referred to as the Yellow Book, are generated in the United States by the Government Accountability Office (GAO). Government Accountability Office (GAO) created independence rules that apply to engagements performed under generally accepted government auditing standards (GAGAS).Learn more: brainly.com/question/16911495
Doug is filing singly. His net taxable income is $80,575. Every week, $304 is withheld from his earnings for income tax. Based on the table below, what can Doug expect when his taxes are due? Between 80,550 and 80,600 dollars, for filing single, the amount of taxes is 16,539 dollars. a. Doug will receive a refund of $123. b. Doug will receive a refund of $2,977. c. Doug will owe an additional $1,125. d. Doug will owe an additional $731. Please select the best answer from the choices provided A B C D
Between 80,550 and 80,600 dollars, for filing single, the amount of taxes is 16,539 dollars Doug will owe an additional $731. The correct option is D.
How are tax liabilities calculated?Your gross tax liability is equal to your taxable income less your tax deductions. Your total income tax liability is equal to your gross tax liability less any tax credits you are eligible for.
Given
the amount of taxes is $16,539
Every week =$304 income withdrawal for tax.
Required to calculate the amount of taxes =?
The total amount of tax in a year = 304 x 52 = $15,808
amount of taxes = amount of taxes - amount already deposited
amount of taxes = 16539 - 15808 = $731
Thus, Doug will owe an additional $731. The total amount of tax owed to federal, state, and local governments by individuals and organizations in a given period is referred to as tax liability. Tax liabilities are short-term liabilities that are recorded on a balance sheet and paid within a year.
Thus, the ideal selection is D.
Learn more about tax liabilities here:
https://brainly.com/question/28192343
#SPJ6
Answer: D
Explanation:
ik
Marigold Company uses the periodic inventory method and had the following inventory information available:
Units Unit Cost Total Cost
1/1 Beginning Inventory 98 $4 $392
1/20 Purchase 490 $5 2,450
7/25 Purchase 98 $7 686
10/20 Purchase 294 $8 2,352
980 $5,880
A physical count of inventory on December 31 revealed that there were 343 units on hand. Answer the following independent questions.
1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $____the value of the ending inventory in dollars.
2. Assume that the company uses the average cost method. The value of the ending inventory on December 31 is $____the value of the ending inventory in dollars.
3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $_____the value of the ending inventory in dollars 4.
A) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method $enter the amount of difference 4.
B) Would income have been greater or less?
Answer:
1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $2,695.
2. Assume that the company uses the average cost method. The value of the ending inventory on December 31 is $2,058.
3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $1,617.
A) The difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method is $1,078.
B) The income would have been greater.
Explanation:
Total units available for sale = 980
Total cost of units available for sale = $5,880
Ending inventory units = 343
Units of inventory sold = Total units available for sale - Ending inventory = 980 - 343 = 637
1. Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is $____the value of the ending inventory in dollars.
Value of the ending inventory using FIFO method = Total cost of 294 units purchased on 10/20 + Value of remaining 49 (i.e. 343 - 294 = 49) units at $7 cost per unit of 7/25 Purchase = $2,352 + (49 * $7) = $2,695
2. Assume that the company uses the average cost method. The value of the ending inventory on December 31 is $____the value of the ending inventory in dollars.
Average cost per unit = Total cost of units available for sale / Total units available for sale = $5,880 / 980 = $6 per unit
Value of the ending inventory using average cost method = Ending inventory units * Average cost per unit = 343 * $6 = $2,058
3. Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is $_____the value of the ending inventory in dollars.
Value of the ending inventory using LIFO method = Total cost of 98 units of 1/1 Beginning Inventory + Value of remaining 245 (i.e. 343 - 98 = 245) units at $5 cost per unit of 1/20 Purchase = $392 + (245 * $5) = $1,617
A) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method $enter the amount of difference
This can be determined as follows:
Difference = Value of the ending inventory using FIFO method - Value of the ending inventory using LIFO method = $2,695 - $1,617 = $1,078
B) Would income have been greater or less?
Since the Value of the ending inventory using FIFO method of $2,695 is greater than the Value of the ending inventory using LIFO method of $1,617, this implies that the income would have been greater.
This is because the cost of goods sold to be deducted from the sales revenue would have been lower with the higher Value of the ending inventory using FIFO method of $2,695. This would make the income to be greater.
Suppose that Perry and Taimur both produce poems and novels. Perry’s productive capabilities are as follows. He can produce 12 poems if he spends all of his time writing poems or he can write 2 novels if he spends all of his time writing novels. He can also produce any linear combination in between. Taimur’s productive capabilities are as follows. He can produce 12 poems if he spends all of his time writing poems or he can write 4 novels if he spends all of his time writing novels. He can also produce any linear combination in between.
A. Which person can produce poems at lower opportunity cost? Explain. Which person can produce novels at a lower opportunity cost? Explain.
B. Suppose that Perry and Taimur make the following deal. Perry will spend all of his time making poems and Taimur will spend all of his time making novels. Taimur will then send 1 novel to Perry and in return Perry will send Taimur 4 poems. How many poems and novels will Perry have after this trade? How may poems and novels will Taimur have after this trade?
C. I claim that after trading with Taimur, Perry can now consume a combination of poems and novels that he never could have produced for himself. Likewise, Taimur can now consume a combination of poems and novels that he never could have produced for himself after trading with Perry. Use equations and a couple of simple calculations to demonstrate that I am correct.
D. What do you think is going on here? Why can both Perry and Taimur now consume a quantity of goods that they never could have produced for themselves?
Answer:
Answer is explained in the explanation section below.
Explanation:
Solution:
a.
Perry poems = 12
Taimur Poems = 12
Perry Novels = 2
Taimur Novels = 4
Opportunity cost of Poems for Perry = 2/12 = 1/6
Opportunity cost of Poems for Taimur = 4/12 = 1/3
Opportunity cost of Novels for Perry = 12/2 = 6
Opportunity cost of Novels for Taimur = 12/4 = 3
As opportunity cost of poems for Perry < Opportunity Cost of Poems for Taimur
So,
Perry can produce poems at lower opportunity cost.
And,
Opportunity cost of Novels for Taimur < Opportunity cost of Novels for Perry
SO,
Taimur can produce novels at lower opportunity cost.
b.
Perry spend all time in making poems = 12 poems
Taimur Spend all time in novel making = 4 novels
Trade ---> Taimur send 1 novel, So, he will left with 3 novels, in exchange he will get 4 poems.
So, after trade, we have:
Perry = 8 novels and 1 Poem
Taimur = 4 poems and 3 novels.
c.
The claim is correct.
This is because, Perry makes 8 poems, he is left with with only 4 novels of productivity and as his opportunity cost of novel is 6, he won't be able to produce even 1 novel, if he doesn't trade.
Let's assume Perry and Taimur both have 12 hours of time each.
Productivity of Perry ---> Poems: 12 hours/12 units = 1 Novels: 12/2 = 6
i.e. Perry need 1 hour to produce 1 poem
and 6 hours to produce 1 novel .
So, when Perry produce 8 poems, he exhaust his 8 hours. Now, he is left with 4 hours. So he cannot produce 1 novel, which require 6 hours to complete. So, after trade, he is better off.
d.
As both Perry and Taimur, produce the good, in which they have comparative advantage it lead to specialization. And when they trade the good, in which they have specialization which will lead them expand this consumption possibilities.