Molson Beer was produced in Canada. Coors was manufactured in the United States. A merger of the two breweries gave each brand access to a significantly larger market. To effectively reach both markets, the merged company needed to coordinate its promotional mix to produce a consistent, unified, and customer-focused message. In other words, the brewery needed to use

Answer:

Integrated marketing communication.

Explanation:

Integrated Marketing Communication (IMC) is a process through which organizations create seamless branding and coordination of their marketing and communication objectives with its business goals and target audience or consumers. The communication tools used in IMC are both digital and traditional media such as billboards, search engine optimization, magazines, television, blog, radio, webinars etc.

The receiver is any individual who is able to read, hear or see and process the message being sent or communicated in the IMC communication process. Any interference the IMC communication process is known as noise.

An organization can analyze and measure the effectiveness of the IMC communication process by considering market share, sales, and customer loyalty.

In this scenario, Molson Beer was produced in Canada. Coors was manufactured in the United States. A merger of the two breweries gave each brand access to a significantly larger market. To effectively reach both markets, the merged company needed to coordinate its promotional mix to produce a consistent, unified, and customer-focused message. In other words, the brewery needed to use integrated marketing communication.

Marsha is 23 years old and single. She cannot be claimed as a dependent by another taxpayer. Marsha earned wages of $18,500 and had $1,500 of federal income tax withholding in tax year 2020. Marsha gave birth to Shelby on November 10, 2020. Marsha paid all the cost of keeping up a home and support for Shelby. Shelby and Marsha are U.S. citizens and have valid Social Security numbers. Marsha filed Single with no dependents on her 2019 tax return and received a $1,200 Economic Impact Payment in May 2020.
1. Which of the following statements is true?
a. Marsha is required to file a tax return.
b. Marsha is not required to file a tax return, but should file a tax return to claim a
refund of her federal income tax withholding.
c. Marsha does not qualify for the earned income credit because she is under the
age of 25.
d. Both a and c.
2. Marsha qualifies for the recovery rebate credit of $500 for Shelby.
Note: Congress may have enacted additional legislation that will affect taxpayers
after this publication went to print. Please answer questions based on the information
provided in Publication 4491, VITA/TCE Training Guide and Publication 4012, VITA/
TCE Resource Guide.
a. True
b. False

Sheen Co. manufactures laser printers. It has outlined the following overhead cost drivers. Overhead Costs Pool Cost Driver Overhead Cost Budgeted cost driver Quality control Number of inspections $ 64,800 1,080 Machine operation Machine hours 132,000 1,100 Materials handling Number of batches 900 30 Miscellaneous overhead cost Direct labor hours 48,000 4,000 Sheen Co. has an order for 1,000 laser printers that has the following production requirements: Number of Inspections 175 Machine Hours 180 Number of Batches 5 Direct Labor Hours 650 Use activity-based costing to determine a unit cost for the laser printers

Virginia Enterprises makes all purchases on account, subject to the following payment pattern: Paid in the month of purchase: 30% Paid in the first month following purchase: 65% Paid in the second month following purchase: 5% If purchases for April, May, and June were $200,000, $160,000, and $250,000, respectively, what was the firm's budgeted payables balance on June 30

On October 28, 2018, Mercedes Company committed to a plan to sell a division that qualified as a component of the entity according to GAAP regarding discontinued operations and was properly classified as held for sale on December 31, 2018, the end of the company's fiscal year.
The division's loss from operations for 2018 was $2,000,000. The division's book value and fair value less cost to sell on December 31 were $3,000,000 and $2,500,000, respectively. What before-tax amount(s) should Mercedes report as loss on discontinued operations in its 2018 income statement?

A company had the following items and amounts in its unadjusted trial balance as of December 31 of the current year: (3 points)
Debit Credit
Cash sales……………………………………………….. $188,000
Credit sales……………………………………………… 275,000
Accounts receivable…………………………………….. $76,000
Allowance for doubtful accounts……………………….. 1,000
Prepare the adjusting entry to estimate bad debts assuming an aging analysis estimates that 8% of the outstanding accounts receivable will be uncollectible.

Extend the application of a method or conclusion


a.Segmentation b.Extrapolate


c.Diffusion d.Multinational

On October 29, 2012, Lobo Co. began operations by purchasing razors for resale. Lobo uses the perpetual inventory method. The razors have a 90-day warranty that requires the company to replace any nonworking razor. When a razor is returned, the company discards it and mails a new one from Merchandise Inventory to the customer. The company's cost per new razor is S20 and its retail selling price is S75 in both 2012 and 2013. The manufacturer has advised the company to expect warranty costs to equal 8% of dollar sales. The following transactions and events occurred.

2012
Nov. 11 Sold 105 razors for S7,875 cash.
30 Recognized warranty expense related to November sales with an adjusting entry.
Dec. 9 Replaced 15 razors that were returned under the warranty.
16 Sold 220 razors for S16,500 cash.
29 Replaced 30 razors that were returned under the warranty.
31 Recognized warranty expense related to December sales with an adjusting entry.

2013
Jan. 5 Sold 150 razors for S11,250 cash.
17 Replaced 50 razors that were returned under the warranty.
31 Recognized warranty expense related to January sales with an adjusting entry.

Required:
a. Prepare journal entries to record these transactions and adjustments for 2012 and 2013.
b. How much warranty expense is reported for November 2012 and for December 2012?
c. How much warranty expense is reported for January 2013?
d. What is the balance of the Estimated Warranty Liability account as of December 31, 2012?

Kentucky Lumber and MillWork Company contracted to supply Rommell Company millwork for use in the construction of a school building. While the work was in progress the Kentucky Lumber mill was destroyed by fire. For two months thereafter, Kentucky Lumber and Millwork Company supplied Rommell with mill work purchased by it from a third party. The Kentucky Lumber mill did not wish to continue this plan and declared that the contract was ended. Rommell Company brought an action against Kentucky Lumber to enforce the contract. How will the court decide?

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

Sarasota Company sells on credits goods that cost $310,000 to Ricard Company for $409,500 on January 2, 2020. The sales price includes an installation fee, which has a standalone selling price of $42,500. The standalone selling price of the goods is $367,000. The installation is considered a separate performance obligation and is expected to take 6 months to complete. (a) Prepare the journal entries (if any) to record the sale on January 2, 2020

The manager at the Overton Hotel in Lubbock believes that the success of the Texas Tech Red Raider Basketball team has an impact on the occupancy rate at the hotel during the first quarter of every year. Below are the number of victories for the Red Raiders in during the last three seasons and the hotel occupancy rate. This year, (year 4) the Red Raiders Basketball Team is expected to have another phenomenal season and win 31 games and the manager at the Overton has asked you to determine their first quarter occupancy rate for the upcoming year (year 4) using associative forecasting, given that the SLOPE = 0.0474 and the INTERCEPT =0.4743

Year Wins First Quarter Occupancy Rate
1 15 60%
2 28 90%
3 31 93%

a. 93.4%
b. 88.1%
c. 91.7%
d. 36.9%
e. 90.0%

Brown Cow Dairy uses the aging approach to estimate bad debt expense. The ending balance of each account receivable is aged on the basis of three time periods as follows:
(1) not yet due, $13,000;
(2) up to 120 days past due, $6,000; and
(3) more than 120 days past due, $5,500. Experience has shown that for each age group, the average loss rate on the amount of the receivables at year-end due to uncollectibility is
(1) 2 percent,
(2) 12 percent, and
(3) 30 percent, respectively.
At December 31 (end of the current year), the Allowance for Doubtful Accounts balance is $710 (credit) before the end-of-period adjusting entry is made. Data during the current year follow:
a. During December, an Account Receivable (Patty's Bake Shop) of $660 from a prior sale was determined to be uncollectible; therefore, it was written off immediately as a bad debt.
b. On December 31, the appropriate adjusting entry for the year was recorded.
Required:
1. Give the required journal entries for the two items listed above.
2. Show how the amounts related to Accounts Receivable and Bad Debt Expense would be reported on the income statement and balance sheet for the current year. Disregard income tax considerations.

A nation's GDP at purchasing power parity (PPP) exchange rates refers to:_____.
a. the value of the GDP divided by the population of the country.
b. the value of all the goods and services produced by a country in a single year.
c. the value of the GDP adjusted for purchasing power.
d. a country's average achievements in health, knowledge, and standard of living.
e. the sum value of all goods and services produced in the country valued at prices prevailing in the United States.

You just won a lottery that promises to pay you $1 million exactly 10 years from today. Because the $1 million payment is guaranteed by the state in which you live, opportunities exist to sell the claim today for an immediate lump-sum cash payment. What is the least you will sell your claim for if you could earn 8.73 % on similar-risk investments during the 10-year period

The following information is from Amos Company for the year ended December 31, 2019. Retained earnings at December 31, 2018 (before discovery of error), $858,000. Cash dividends declared and paid during the year, $18,000. Two years ago, it forgot to record depreciation expense of $42,600 (net of tax benefit). The company earned $220,000 in net income this year. Prepare a statement of retained earnings for Amos Company. (Amounts to be deducted should be indicated with a minus sign.)

Kapono Farms exchanged an old tractor for a newer model. The old tractor had a book value of $15,000 (original cost of $34,000 less accumulated depreciation of $19,000) and a fair value of $9,600. Kapono paid $26,000 cash to complete the exchange. The exchange has commercial substance. Case B. Kapono Farms exchanged 100 acres of farmland for similar land. The farmland given had a book value of $530,000 and a fair value of $760,000. Kapono paid $56,000 cash to complete the exchange. The exchange has commercial substance.

Required:
a. What is the amount of gain or loss that Kapono would recognize on the exchange of the land?
b. What is the amount of gain or loss that Kapono would recognize on the exchange of the tractor?
c. Assume the fair value of the old tractor is $20,000 instead of $9,600. What is the amount of gain or loss that Kapono would recognize on the exchange? What is the initial value of the new tractor?

Trade credit and discounts are important strategies used by firms in the daily operations of their business. Calculate the cost of a firm's trade credit in each of the following situations (answers should be carried out to 2 decimal points, e.g. 35.78%, not 35% or 36% !) a) 2/12, Net 32 b) 3/15, Net 36 c) 2.5/18, Net 35 d) 2.25/20, Net 38

Lowell Corporation paid $80,000 to acquire all of Boston Company's net assets. Boston reported assets with a book value of $60,000 and fair value of $98,000 and liabilities with a book value and fair value of $23,000 on the date of combination. Lowell also paid $3,000 to a search firm for finder's fees related to the acquisition. What amount will be recorded as goodwill by Lowell Corporation while recording its investment in Boston

Gideon Company uses the allowance method of accounting for uncollectible accounts. On May 3, the Gideon Company wrote off the $2,000 uncollectible account of its customer, A. Hopkins. On July 10, Gideon received a check for the full amount of $2,000 from Hopkins. On July 10, the entry or entries Gideon makes to record the recovery of the bad debt is:________
A. Accounts Receivable-A. Hopkins 2,000
Allowance for Doubtful Accounts 2,000
Cash
Accounts Receivable-A. Hopkins 2,000
B. Cash 2.000
Bad debts expense 2,000
C. Accounts Receivable-A. Hopkins
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins
D. Accounts Receivable-A. Hopkins 2,000
Bad debts expense 2,000
Cash 2,000
Accounts Receivable-A. Hopkins 2,000
E. Allowance for Doubtful Accounts 2,000
Accounts Receivable-A. Hopkinse 2,000
Accounts Receivable-A. Hopkins 2,000
Cash 2,000
F. Cash 2,000
Accounts Receivable-A. Hopkins 2,000

Company X paid Company Y $1.85 million for a new plant. During the same accounting period, Company X experienced the following changes in its balance sheet: Cash decreased by $353,000, Accounts Receivable increased by $321,800, Inventory increased by $276,300, Property, Plant, and Equipment increased by $753,400, and Bonds Payable increased by $2 million. The net cash flow provided by financing activities is:

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]

Which of the following typically occurs during an expansionary phase of a business cycle?
A. Nominal interest rates decrease.
B. Income taxes decrease.
C. The price level decreases.
D. Government transfer payments increase.
E. Employment increases.

Sheridan Enterprises reported cost of goods sold for 2020 of $1,322,900 and retained earnings of $4,854,000 at December 31, 2020. Sheridan later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $106,470 and $36,820, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings. Corrected cost of goods sold $enter a dollar amount Corrected 12/31/20 retained earnings $enter a dollar amount

You want to save at least $10,000 for a down payment on a new car. In cell B6, enter a formula to calculate how much you will have saved by putting away $500 per month for 24 months at a 1.5% annual interest rate. Use the appropriate cell references. Remember to use a negative value for the Pmt argument. There is no money in the account yet and payments are applied at the end of every month, so omit both the Pv and Type arguments. (Hint: Use the FV function.)

Mortensen Industries, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records:
Total equivalent units of materials: 5,000
Total equivalent units of conversion: 4,400
Units started and completed during the period: 3,500
On the basis of this information, the ending work-in-process inventory's stage of completion is:_____.
a. 80%.b. 70%.c. 60%.d. 40%.

A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $500 each month for the three-month season. The team pays the players and manager a total of $2500 each month. The team charges $10 for each ticket, and the average customer spends $6 at the concession stand. Attendance averages 100 people at each home game.

The team earns an average of $_________ in revenue for each game and $_____________ of revenue each season. With total costs of $___________ each season, the team finishes the season with $____________ of profit.

The expected average rate of return for a proposed investment of $5,330,000 in a fixed asset, using straight-line depreciation, with a useful life of 20 years, no residual value, and an expected total net income of $15,990,000 over the 20 years is (round to two decimal points). a.1.50% b.15.00% c.60.00% d.30.00%

At Eady Corporation, maintenance is a variable overhead cost that is based on machine-hours. The performance report for July showed that actual maintenance costs totaled $10,110 and that the associated rate variance was $310 unfavorable. If 5,600 machine-hours were actually worked during July, the standard maintenance cost per machine-hour was:

Which scenarios provided would cause a change in demand for grape jelly?
A)
The price of grape jelly increases considerably.
B)
Grape jelly is placed on sale at a local supermarket.
The prices of peanut butter and bread increase substantially.
D)
Summer is approaching and more people prefer sandwiches for lunch.
E)
The federal government releases a report on the positive health benefits of
grape jelly

Richards Corporation uses the weighted-average method of process costing. The following information is available for October in its Fabricating Department:

Units:
Beginning Inventory: 94,000 units, 80% complete as to materials and 25% complete as to conversion.
Units started and completed: 278,000.
Units completed and transferred out: 372,000.
Ending Inventory: 37,000 units, 40% complete as to materials and 15% complete as to conversion.

Costs:
Costs in beginning Work in Process - Direct Materials: $47,200.
Costs in beginning Work in Process - Conversion: $89,700.
Costs incurred in October - Direct Materials: $759,920.
Costs incurred in October - Conversion: $929,300.

Required:
Calculate the cost per equivalent unit of materials.