Raw materials inventory was $5,000 at the beginning of the year and $12,000 at the end of the year. During the year, a total of $27,000 in raw materials were purchased, including $4,000 of indirect materials that were put into manufacturing overhead during the period. Calculate the cost of direct materials used during the period.

Answer:

a. Did you purchase or lease the vehicle?  CATEGORICAL DATA

b. What price did you pay?  QUANTITATIVE DATA

c. What is the overall attractiveness of your vehicle's exterior? (Unacceptable, Average,  Outstanding, or Truly Exceptional)  CATEGORICAL DATA

d. What is your average miles-per-gallon?  QUANTITATIVE DATA

e. What is your overall rating of your new vehicle? (l- to 10-point scale with 1 Unacceptable and 10 Truly Exceptional) QUANTITATIVE DATA

Explanation:

Quantitative data can be measured in numbers, e.g. 20 miles per gallon. While categorical data refers to non-numerical responses, e.g. higher quality, better looks, and is generally obtained by choosing one response from a group of available answers.

Answer:

a. Tom purchases a brand new Volkswagen from Germany for his start up ride sharing business for $20,000. He provides ride-sharing services earning him revenues of $40,000. During the course of the year, the Volkswagen depreciates by $2,000. Tom has no other costs.

GDP increases by $20,000:

It will increase $40,000 by the services provided (consumption) but will decrease $20,000 due to the imported car (negative net exports).

b. An army battalion is deployed to the border to repel a threatened Canadian invasion. The soldiers earn wages of $10,000 and use ammunition that the government bought for $5,000. The ammunition was produced using $2,000 of imported steel and 100 hours of work, for which the workers were paid $1,000. Hint: two things are produced in this example, what is the value added for each of them?

GDP increases by $13,000:

Government spending increases by $15,000.

Net imports decrease by $2,000.

c. The government collects $1000 in income taxes from Pam.

GDP doesn't change. Taxes are not included in the GDP

d. Pam earns $4000 for working as a babysitter and pays $1000 in income taxes.

GDP increases by $4,000 (consumption).

Answer:

When a company is using conventional costing methods, the costs are allocated based on volume so those products with a high volume will get a higher share of the costs.

When Activity-based costing is used however, costs are assigned more accurately which will lead to the actual products that are causing the costs incurring them instead of those high-volume products so it will appear as though overhead costs have shifted from high-volume products to low-volume products.

Complete Question:

Suppose an event has occurred that has decreased money demand. This will cause the equilibrium interest rate to: Multiple Choice decrease, but equilibrium quantity to remain constant. decrease, but equilibrium quantity to increase. increase, but equilibrium quantity to decrease. Increase, but equilibrium quantity to remain constant.

Answer:

Suppose an event has occurred that has decreased money demand. This will cause the equilibrium interest rate to:

decrease, but equilibrium quantity to increase.

Explanation:

Money demand equilibrium occurs at the interest rate at which the quantity of money demanded equals the quantity of money supplied.  This implies that all other things unchanged, a shift in money demand will lead to a change in the equilibrium interest rate.  This result will come about because with the reduced interest rate, more consumers and businesses will be angling for more loans.

Answer:

a. In August, 2021 a worker was injured in the factory in an accident partially the result of his own negligence. The worker has sued Barkley Co. for $800,000. Counsel believes it is reasonably possible that the outcome of the suit will be unfavorable and that the settlement would cost the company from $250,000 to $500,000.

b. A suit for breach of contract seeking damages of $3,000,000 was filed by an author against Henderson Co. on October 4, 2018. Henderson's legal counsel believes that an unfavorable outcome is probable. A reasonable estimate of the award to the plaintiff is between $1,000,000 and $2,250,000. No amount within this range is a better estimate of potential damages than any other amount.

c. Kroft is involved in a pending court case. Kroft’s lawyers believe it is probable that Kroft will be awarded damages of $1,000,000.

Liability is a type of debt that the business is required to pay at the present time or in any future date.

a. The company would not be in condition to accrue the liability of paying injured labor due to his own negligence as the amount is not probably determined.

b. The company would again not have any accrued liability as liability has not yet been incurred.

c. The liability to pay for damages is probable which would be incurred in the future; thus, should be recorded in the accounts of the business.

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Answer:

B. 10.5%

Explanation:

The computation of the return on assets is shown below:

As we know that

Return on assets = Net income ÷ total assets

where,

Total assets is

Total asset turnover = Sales ÷ Total assets

1.5 = $2,000 ÷ Total assets

So, the total assets is $1,333.33

Now the return on assets is

= $140 ÷ $1,333.33

= 10.5%

Answer:

False

Explanation:

In autocratic leadership, the leader or manager does not allow the team members to contribute to the group's decisions. It is also known as authoritarian leadership. The leader issues command-like instructions that must be followed by everyone.

In general, workers do not like authoritarian leaders. Authoritarian leaders do not consider workers' opinions, nor do they value their inputs in decision making. Discouraging group inputs stifles creativity and innovation. Workers are always demoralized as they do not feel part of the team and its decisions.

Answer:

False!

Explanation:

I just took the test right now!

Answer:

The answer is "Option C".

Explanation:

In the US, mental illnesses have increasingly been on the rise, including patterns that are highly valuable in most modern societies. Anorexia and bipolar disorder are also included. These are complicated, severe but potentially destructive. These are also the result of a complex confluence of things such as biology, cell biology, sociology, culture, and the environment.

Answer:

B

Explanation:

Substitution effect is the change in demand as a result of the change in the price of a good relative to the price of another good.

As a result of the increase in price of Pepsi, the demand for coke increases. This is an example of substitution effect

Answer:

10%

Explanation:

Formula for computation of equivalent taxable yield is r = rm/1-t. Where the tax rate is t, rm is Yield on municipal bond and r is Tax equivalent yield

r = rm/1-t

r = 6.50% / 1 - 35%

r = 6.50% / 0.65%

r = 10%

So, the equivalent taxable yield of this bond to a taxpayer in a 35% combined tax bracket is 10%

Answer:

False

Explanation:

In the case when the maturity of the bond is shorter the risk of the rate of interest would be less and on the other hand when the maturity of the bond is longer so the risk of the rate of the interest would be high this creates a negative impact on the bond price

So as per the given situation the given statement is false

Answer:

a.

Date Received        Present Value            Value in 1 year    Value in 2 years

Today                                1,000                           $1,050               $1,102.50

In 1 year                           $952.38                      $1,000

In 2 years                        $907.03                                                  $1,000

Future value in 1 year if $1,000 is received today:

= 1,000 * (1 + 5%)

= $1,050

Future value in 2 years:

= 1,000 * ( 1 + 5%)²

= $‭1,102.5‬

Present value if $1,000 received in a year:

= 1,000/(1 + 5%)

= $952.38

If received in 2 years:

= 1,000 / (1 + 5%)²

= $907.03

b. The present value of the gift is smaller if you get engaged in two years than it is if you get engaged in one year.

Answer:

A) One of the most professional ways of acquiring information from a client during an interview is to approach the exercise in a semi-structured manner.

B) In order to accommodate conflicting responses from the same procedure from two different people, it is important to seek to understand what their interests are.

Explanation:

A) Semi-structured questions allow flexibility. Though the business analyst comes to the table with a set of pre-determined questions, they must be prepared to go outside of that list in order to get to the root of the problem which the clients needs to solve.

Another job of the analyst is to see beyond the immediate needs of the client and communicate to them, based on the information they provided any other problem that needs to be catered to.

Recording all information provided by the respondent is mission-critical.

B) Clarity of interests helps the analyst to determine what approach is best for accomodating both responses.

Cheers

Answer:

c

Explanation:

There are some Companies that lend money and treat loans. The type of firms lend to businesses needing capital or long-term funds is Commercial finance companies.

Commercial finance company is simply known to be a type of finance institution where loans are made available to manufacturers and wholesalers.

Conclusively, this Commercial finance company gives loans that can be paid back in a longer run to people who want to start up business.

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Answer:

O  Sophie earned a degree in survey methodology

Explanation:

Sophie is a manager in the survey company. Her team is made up of researchers who analyze the effectiveness of survey methodologies.    For  Sophie to effectively manage a team of researchers, she needs to be good at research work. This suggests that Sophie must have graduated with a degree in survey methodology. The minimum requirement for a manager in many professions is a degree in the relevant field of study.

The answer is NOT:

Sophie earned a professional researcher certification.

Question Completion with Options:

a. Political action committees

b. Professional organizations

c. Corporations

d. Labor unions

Answer:

The group from which Cote could solicit funds to maximize donations to his primary campaign, thereby allowing him the option of declining money from the Presidential Election Campaign Fund is called:

Political action committees

Explanation:

A political action committee is a committee set up primarily to raise funds for the political campaign of a candidate.  The committee collects funds from various individuals, better called contributors, and then distributes the funds to candidates who support the same ideals as the contributors.  The establishment of a political action committee by supporters of a political aspirant enables the committee to collect funds for distribution to a candidate's political course.  The committee is established based on ideology and political interests.

Answer:

Make sure you don't copy and paste. Have a good day!!!

Explanation:

1. Customers

Find and keep your own customers – you have to be able to solve their real problems & sell yourself effectively.

Too many businesses rely on ‘being in the supply chain’, have too few major customers and do not invest personal time and effort in developing and maintaining customer relations – remember, ‘people buy people’.

Check their credit rating and monitor their speed of payment.

You have not made a sale until they’ve paid the bill. Some customers have bad habits over slow payment; some are big enough to know better. Some will go under before they pay – avoid them.

2. Risks

Assess risks & their potential impact – e.g. customer or supplier closure

Develop contingency plans to mitigate risks

We live in a risky business environment. Don’t assume everything will be OK – look at the potential risks, pitfalls and liabilities for your business and at how you can reduce the biggest risks or anticipate how you will respond if the worst happens.

3. Opportunities

Look for ways to create new value  – e.g. new pricing, products & offers to stimulate demand

It often takes longer and costs more than you think to innovate or do anything new.

Use the technology – social media, tablet computing and smartphones are constantly changing the ways we can do business

There are always new opportunities and growing confidence in the economy accelerates these. Many of the most attractive are not in the UK but are international.

Innovation and new approaches can open up promising opportunities but experience tells us that when doing anything new often costs more and takes longer to implement than you first expect, so be prepared to increase your investment of time and money for those new ideas. That means doing your research to find out just how attractive an opportunity it is in the first place.

4. Money in – manage cash and break even

Forecast and monitor your cash flow very closely

Aim to maintain/increase profit margins rather than just increasing sales turnover (bottom line not top line)

Monitor breakeven on the business, customers, products, staff.

Beware of ‘buying’ work at cut-throat margins. Profitable businesses can fail because they run out of money, often suffering from slow payment and lack of credit. Aim to be cash-positive and you will sleep better at night. Break-even is the point at which the business, a person or a contract starts making a profit and is always an important measure.

5. Money out – manage costs and debt

Keep your fixed costs down: avoid costs which are not essential.

Aim to grow sales on a variable cost basis – borrow, rent or lease assets but don’t buy things or hire people you don’t need.

Keep in contact with creditors & lenders to avoid nasty surprises.

Businesses can be wasteful; you don’t need to be. Invest your money only in assets and projects which will provide a strong return. The worst time to ask a lender for more money is when you really need it. Up to date management accounts are essential and you must read them to monitor the health of the business.

6. People

Optimism – positive, realistic leadership with open communications

Set & monitor clear & realistic targets – sales, costs, project completion, debt etc.

Move unproductive people & customers out of the business.

At the end of the day it’s all about how you manage relationships with people. You can tell a lot about a business from the quality of interactions between its managers, employees, customers and suppliers.

Answer:

Explanation:

No business can survive for a significant amount of time without making a profit, though measuring a company's profitability, both current and future. Without sufficient capital or the financial resources used to sustain and run a company, business failure is imminent.

Answer:

Total FV= $34,947.44

Explanation:

Giving the following information:

Cash flows:

1= $6,400

2= $6,450

3= $7,225

4= $7,500

Opportunity cost= 10%

To calculate the future value of the cash flows, we need to use the following formula on each cash flow:

FV= Cf*(1+i)^n

i= opportunity cost

FV1= 6,400*1.1^4= 9,370.24

FV2= 6,450*1.1^3= 8,584.95

FV3= 7,225*1.1^2= 8,742.25

FV4= 7,500*1.1= 8,250

Total FV= $34,947.44

Answer:

OPTION 1:

net income = $100,000

return on equity = $100,000 / $400,000 = 25%

OPTION 2:

net income = $100,000 + $50,000 - ($160,000 x 8%) = $150,000 - $12,800 = $137,200

return on equity = $137,200 / $400,000 = 34.3% (yields highest returns but also increases risk)

OPTION 3:

net income = $100,000 + $50,000 = $150,000

return on equity = $150,000 / ($400,000 + $160,000) = $150,000 / $560,000 = 26.79%

Answer: b. It can identify transactions where the transaction date is in a future period and the cleared date is in the statement period .

Explanation:

QuickBooks online uses machine learning based on the transactions that it conducts with its millions of users so that it provides a better experience for those same users.

One way machine learning is used is in reconciliation where it identifies transactions that may have a future date but by virtue of their clearing dates should be in the current period and so may have been hidden.

Answer:

Business forms strategy to earn profits. Formal economy restricts business from extra ordinary profits and the business activities are regulated by government.

Explanation:

Formal economy focuses on commercial activities that generate government taxes. In informal economy the businesses are not regulated and taxes are not paid. The competition is distorted in the market and business make unfair profits. Informal economy poses a threat to formal economy system.

Answer:

The ending balance after the first five payments of the notes payable is $1.70.

Explanation:

Note: See the attached excel file for the installment payments schedule for the first five payments of the notes payable.

In the attached excel file, the following are calculated as follows:

Beginning balance for the year 2022 = Value of the note payable

For other years, Beginning balance for a particular year = Previous year's ending balance

Interest expense for each year = Beginning balance for each year * Interest rate

Principal paid for each year = Annual installment - Interest expense for each year

Ending balance for each year = Beginning balance for each year - Principal paid for each year

From the attached excel file, the ending balance after the first five payments of the notes payable is $1.70.

Answer:

d) The number of units you need to sell, taking into account variable costs, in order to cover fixed costs.

Explanation:

Breakeven analysis can be defined as a financial accounting method or technique used for determining the number of units a business firm must sell at a specific price so as to cover all of its costs. It is a concept that allow business owners or financial experts to determine and know what they need to sell either on a monthly or annual (yearly) basis, in order to be able to cover the costs of doing the business.

Basically, it helps us to determine the amount of revenue required for the smooth operation of a business, amount of money needed to cover both fixed and variable costs. Using the breakeven analysis, production costs can be categorized as;

1. Variable costs: these are costs that usually change with respect to changes in the level of production or output. Examples are direct labor, maintenance of equipment or machines, raw materials costs etc.

2. Fixed costs: these are the costs which are not directly related to the level of production or not affected by the quantity of output in an organization. Examples are rent, depreciation, administrative cost, research and development costs, marketing costs etc.

Hence, a good market research can help you determine your break-even point, which typically is the number of units you need to sell, taking into account variable costs, in order to cover fixed costs.

Answer:

b. less than $300,000

Explanation:

Based on the information given since the proceeds of 6% bonds is lower than 7% market rate of interest which means that it will lead to a discount reason been that discount will often occur in a situation where the cost of bonds

is lower than the bonds face value which simply indicate that the value of the bonds will be lower than the face value of the amount of $300,000.

Answer:

$3,857

Explanation:

From the above, we do know that;

Revenue - Expenses = Net income

But

Expenses = Revenue - Cost of goods sold - Admin expenses - Depreciation expenses

Also,

Net income tax = Income before taxes × ( 1 - tax rate)

Since we do not know Net income taxes,

Net income - Dividends = Change in retain earnings

Net income = $2,810 + $700

= $3,510

Income before taxes = $3,510 / 0.79

= $4,443

$37,800 - $23,200 - $6,300 - Depreciation expenses = $4,443

Therefore,

Depreciation expenses = $3,857

Answer:

the absolute value is -0.33 and it is inelastic

Explanation:

The computation is shown below:

The Absolute value of Price Elasticity of Demand (PED) is

= Percentage Change in Quantity Demanded ÷ Percentage Change in Price

= 0.05 ÷ (-0.15)

= -0.33

Since the price elasticity of demand is less than one so here there is an inelastic demand

Therefore the absolute value is -0.33 and it is inelastic

The absolute value is -0.33 and the price elasticity of demand is inelastic .

"Price Elasticity of Demand"

Formula :

Therefore , the price elasticity of demand is less than one so here there is an inelastic demand.

So, the absolute value is -0.33 and it is inelastic demand.

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Answer:

Current Assets :

Work in process inventory          23,000

Raw materials inventory              17,000

Finished goods inventory           35,000

Supplies                                            500

Accounts receivable                     4,000

Prepaid expenses                         2,000

Short-term investments              25,000

Cash                                            22,000

Total                                           128,500

Explanation:

Current Assets are always shows in the order of their liquidity in the Balance Sheet. That is the order in which they are quickly be converted into cash within a period of less than 12 months. Start with the Inventories to cash and cash equivalents as shown above.

Answer:

The correct response will be "$600".

Explanation:

The given problem is incomplete. Please find attachment of the complete query.

The given values are:

Normal earning,

= 11000

Rate of interest,

r = 8%

Now,

The abnormal earning will be:

= [tex]Normal \ earning-Net \ income[/tex]

= [tex]11000-((150000-20000)\times 8 \ percent)[/tex]

= [tex]11000-((130000)\times 8 \ percent)[/tex]

= [tex]600[/tex] ($)

Answer:

A market economy is an economic system in which economic decisions and the pricing of goods and services are guided by the interactions of a country's individual citizens and businesses. There may be some government intervention or central planning, but usually this term refers to an economy that is more market oriented in general.