Answer:
1. Collected accounts receivable = (a) an operating activity
2. Declared and paid dividends on common stock = (c) a financing activity
3. Sold long-term investments for cash = (b) an investing activity
4. Issued stock for equipment = (d) a noncash investing and financing activity
5. Repaid five year note payable = (c) a financing activity
6. Paid employee wages = (a) an operating activity
7. Converted bonds payable to common stock = (d) a noncash investing and financing activity.
8. Acquired long-term investment with cash = (b) an investing activity
9. Sold buildings and equipment for cash = (b) an investing activity
10. Sold merchandise to customers = (a) an operating activity
Explanation:
The Operating Activities include those activities that occurs within the course of business.
The Investing Activities include any cash movement in capital expenditure items.
The Financing Activities included activities that involve sourcing of funds and changes in ownership activities.
Suppose that a baseball player eligible for free agent status signs a contract with a new team that promises to pay him $100,000 more than his current team for each of the next three years. Assuming the discount rate is 6 percent, what is the maximum the current costs of moving could be and still have this investment be worthwhile?
Answer:
Maximum current cost = $267,301.19
Explanation:
The maximum current costs of his moving would be worth of the $100,000 annuity in today's dollars, that is the present value.
The present value of the annuity would be determined as follows:
PV = A × (1- (1+r)^(-n) )/ r
Annual cash flow, n- number of years, r-rate of interest
A- 100,000, r- 6%, n- 3
PV - 100,000 × (1- 1.06^(-3))/0.06
PV = $ 267,301.19
Maximum current cost = $267,301.19
Maggie's Muffins, Inc., generated $2,000,000 in sales during 2015, and its year-end total assets were $1,400,000. Also, at year-end 2015, current liabilities were $1,000,000, consisting of $300,000 of notes payable, $500,000 of accounts payable, and $200,000 of accruals. Looking ahead to 2016, the company estimates that its assets must increase at the same rate as sales, its spontaneous liabilities will increase at the same rate as sales, its profit margin will be 7%, and its payout ratio will be 50%.
Required:
How large a sales increase can the company achieve without having to raise funds externally; that is, what is its self-supporting growth rate?
Answer:
The Sales will increase by $350,000 (2000,000 * 17.5%)
Explanation:
As we know that,
Self Supporting Growth Rate = Return on Equity * (1 - Payout Ratio) ...Eq1
Here
Payout ratio given is 50%
and
Return on Equity = 35% (Step 1)
By putting values in Eq1, we have:
Self Supporting Growth Rate = 35% * (1 - 50%)
Self Supporting Growth Rate = 17.5%
Which means that Sales will increase by $350,000 (2000,000 * 17.5%) which is 17.5%.
Step 1: Find Return on Equity
We know that:
Return on Equity = Net Income / Equity ..............Eq2
As we are not given value of Net Income we can not calculate the value of return on equity. But there is another way that we can calculate by simply multiplying and dividing by sales on Left hand side of the Eq2 equation.
Return on Equity = Net Income / Equity * Sales / Sales
By rearranging, we have:
Return on Equity = Net Income / Sales * Sales / Equity
Now here,
Net Income / Sales = Profit Margin
By putting this in the above equation, we have:
Return on Equity = Profit Margin * Sales / Equity
Here
Profit Margin is 7% given in the question.
Sales were $2,000,000
And
Equity is $400,000 (Step 2)
By putting values, we have:
Return on Equity = 7% * $2,000,000 / $400,000
Return on Equity = 35%
Step 2. Find Equity
Equity = Assets - Liabilities
Here,
Assets are worth $1,400,000
Liabilities are standing at $1,000,000 which includes only current liabilities because company doesn't have any long term borrowings
By putting the values, we have:
Equity = $1,400,000 - $1,000,000 = $400,000
Brother, don't forget to rate the answer.
State the immediate effect of each of the following actions on M1 and M2: Instructions: If there is no change in M1 or M2, enter zero as your response. a. Barry writes his plumber a check for $200. The plumber takes the check to the bank, keeps $50 in cash, and deposits the remainder in his savings account. M1 declines by $ 0 . M2 does not change by $ 0 . b. Maureen deposits the $1,000 from her CD in a money market mutual fund. M1 does not change by $ 0 . M2 does not change by $ 0 . c. Sylvia withdraws $50 in cash from her savings account. M1 rises by $ 0 . M2 does not change by $ 0 .
Answer:
M1 is a measure of money that includes the most liquid of cash instruments such as physical cash, checkable deposits, and traveler's checks.
M2 is the next level in the money hierarchy and includes M1 along with less liquid instruments such as savings deposits, certificates of deposits, as well as money market funds.
a. Barry writes his plumber a check for $200. The plumber takes the check to the bank, keeps $50 in cash, and deposits the remainder in his savings account.
M1 declines by $150.
Barry's Checkable deposit was reduced by $200 and only $50 remained as cash with the plumber with the rest going to a savings account. that $50 is the only M1 measure left as savings do not fall under M1.
M2 does not change
Both M1 and savings fall under M2 so this does not change.
b. Maureen deposits the $1,000 from her CD in a money market mutual fund.
Both M1 and M2 do not change.
Neither CDs nor Money Market Mutual funds fall under M1 so it is not affected.
Both CDs and Money Market Mutual funds fall under M2 so it is not affected as well.
c. Sylvia withdraws $50 in cash from her savings account.
M1 rises by $50
Cash increased by $50 and cash is an M1 measure so M1 will increase by $50.
M2 does not change.
Both the Savings Account and M1 are part of M2 so M2 does not change.
The financial statements of Sunland Manufacturing Company report net sales of $1226400 and accounts receivable of $57000 and $111000 at the beginning and end of the year, respectively. What is the average collection period for accounts receivable in days
Answer:
2.8 billon
Explanation:
cheating
The vice-president of marketing of G Street Fabrics has been told to invest the company's advertising dollars wisely. Which of the following measures could be used to compare the cost of its advertising expenditures for different media?a. Reachb. Ratingc. GRPsd. CPMe. frequency
Answer: d. CPM
Explanation:
CPM is a acronym for cost per thousand impressions. This is a term that is utilized in advertising either by online advertising, traditional advertising media, and marketing that are related to web traffic and it
refers to cost of traditional advertising, email advertising or internet marketing campaigns whereby the advertisers will have to pay every time an advertisement is displayed.
It is a measurement of the amount of money a company will have to pay in order to get across to its listeners, viewers, readers, or visitors. Since the vice-president of marketing of G Street Fabrics has been told to invest the company's advertising dollars wisely, he can use the CPM.
On December 31, Strike Company has decided to discard one of its batting cages. The initial cost of the equipment was $219,818.00 with an accumulated depreciation of $197,836.20. Depreciation has been taken up to the end of the year. The following will be included in the entry to record the disposal.
Select the correct answer.
Equipment Cr. $219,818.00
Loss on Disposal of Asset Dr. $197,836.20
Accumulated Depreciation Dr. $219,818.00
Gain on Disposal of Asset Cr. $21,981.80
\Answer:
Equipment Cr. $219818.00 is the correct answer.
Explanation:
The asset costed $219818 and when an asset is disposed off, it is written off from the books and its account is closed. The cost of asset is credited in the asset account. Thus, $219818.00 will be credited.
The amount of sales proceed is unknown so we cannot determine if the asset was sold for a loss or gain. Thu option b and d cannot be the right answer.
The amount of accumulated depreciation is given till year end as $197836.20 and this amount will be debited in the correct entry. Thus option c is incorrect.
Regarding partnering in cooperative alliances, entrepreneurial new companies may seek_____________ while more established companies may need__________.
Answer:
Investment capital; new technological knowledge.
Explanation:
Regarding partnering in cooperative alliances, entrepreneurial new companies may seek investment capital while more established companies may need new technological knowledge.
Cooperative alliances are self-governing and independent association of individuals who voluntarily come together, in order to solve their common cultural, social and economical challenges and aspirations via the jointly owned entity.
When entrepreneurial new companies they would require an investment capital in order to float their respective businesses and as such would request for such capital from the cooperative alliance they belong to.
On the other hand, more established companies would be very much interested in seeking for new technological knowledge since they're well grounded in the business financially. The new technological knowledge would help them to operate efficiently and achieve their organizational goals, aims and objectives.
Computing first-year depreciation and book value
At the beginning of the year, Austin Airlines purchased a used airplane for $33,500,000. Austin Airlines expects the plane to remain useful for five years (4,000,000 miles) and to have a residual value of $5,500,000. The company expects the plane to be flown 1,100,000 miles during the first year.
Requirements
1. Compute Austin Airlinesâs first-year depreciation expense on the plane using the following methods:
a. Straight-line
b. Units-of-production
c. Double-declining-balance
2. Show the airplaneâs book value at the end of the first year for all three methods.
Answer:
1. Compute Austin Airlines' first-year depreciation expense on the plane using the following methods:
a. Straight-line
depreciation expense for first year = ($33,500,000 - $5,500,000) / 5 = $5,600,000 per year
b. Units-of-production
depreciation per mile = ($33,500,000 - $5,500,000) / 4,000,000 = $7 per mile
depreciation expense for first year = $7 x 1,100,000 = $7,700,000
c. Double-declining-balance
depreciation expense for first year = 2 x 1/5 x $33,500,000 = $13,400,000
2. Show the airplane's book value at the end of the first year for all three methods.
a. Straight-line
book value at end of first year = $27,900,000
b. Units-of-production
book value at end of first year = $25,800,000
c. Double-declining-balance
book value at end of first year = $20,100,000
Explanation:
Purchase cost = $33,500,000
useful life of 5 years (or 4,000,000 miles) and residual value of $5,500,000
expected use during first year of 1,100,000 miles
Creative Canopies (CC) is a manufacturer of flexible canopies for athletic facilities. CC has contracts with 3 universities to install and maintain the canopies on their baseball field bleachers. The fields are essentially identical, so CC management has assumed that all costs would be equal for each customer. However, after missing budget predictions this year, the CFO decided to use ABC costing principles to evaluate the profitability of their customers. The cost accounting team has put together the following estimates regarding specific cost activities related to maintenance of the canopies:
Support Activity Driver Cost per Driver Unit
Major refinishes: Hours on jobs $55
Minor touchups: Number of visits $400
Communication: Number of calls $25
The universities are all out-of-state but relatively equidistant from the manufacturing plant, so per-trip travel costs are not considered to be significantly different. However, each university has different expectations regarding maintenance of the canopy, and CC has collected the following data for each customer:
University Hours (major) Visits (minor Calls
USD 100 7 12
USC 90 5 15
UCLA 120 6 9
(Assume that each of the three customers produces gross profits of $10,000).
Which customer is the least profitable?
A. USD
B. UCLA
C. USC
Answer:
Creative Canopies (CC)
With gross profits of $10,000, the least profitable is:
B. UCLA
Explanation:
a) Maintenance Costs of Canopies:
Support Activity Driver Cost per Driver Unit
Major refinishes: Hours on jobs $55
Minor touchups: Number of visits $400
Communication: Number of calls $25
b) Customer Data:
University Hours major Visits minor Calls=
USD 100 7 12
USC 90 5 15
UCLA 120 6 9
c) Calculation of the Cost of Canopy Maintenance for each customer:
University Hours Major Minor Major Minor Commun- Total
Visits Calls Refinishes Touchups ication
USD 100 7 12 $5,500 $2,800 $300 $8,600
USC 90 5 15 $4,950 $2,000 $375 $7,325
UCLA 120 6 9 $6,600 $2,400 $225 $9,225
d) Calculation of net income from each customer:
University Gross Profit Maintenance Cost Net Income
USD $10,000 $8,600 $1,600
USC $10,000 $7,325 $2,675
UCLA $10,000 $9,225 $775
In the model of monopolistic competition, there can be short-run:____________.
a. losses or profits, but there must be profits in long-run equilibrium.
b. profits, but there must be losses in long-run equilibrium.
c. losses or profits, but there must be losses in long-run equilibrium.
d. losses or profits, but there must be neither profits nor losses in long-run equilibrium.
e. losses, but there must be profits in long-run equilibrium.
12. Problems and Applications Q12 A drought around the world reduces the total revenue that farmers receive from the sale of grain if demand is . Why would a drought only in Kansas most likely reduce the total revenues that Kansas farmers receive? A drought in Kansas is not significant enough to affect the worldwide price of grain. A drought in Kansas would significantly lower the worldwide price of grain. A drought in Kansas would significantly raise the worldwide price of grain.
Answer:
Elastic
A drought in Kansas would significantly raise the worldwide price of grain
Explanation:
Elastic demand means that quantity demanded is sensitive to price changes. If there's a small change in price, there's a greater change in quantity demanded.
If there's a drought in kansas, the amount of grains produced would fall. This would make grains scarce and increase the price of grain. If the elasticity of demand for grain is elastic, the price increase would lead to a reduction in quantity demanded. As a result, the revenue received by farmers would fall.
I hope my answer helps you
The overall economic performance of developing countries is expected to outpace that of the United States over the coming years. A customer that wishes to profit from this should receive which recommendation and accompanying risk disclosures?
A.
The customer should be recommended a special situations fund, as long as the customer is willing to assume regulatory risk and market risk
B.
The customer should be recommended a specialty fund, as long as the customer is willing to assume credit risk and extension risk
C.
The customer should be recommended an emerging markets fund, as long as the customer is willing to assume political risk and exchange rate risk
D.
The customer should be recommended a sector fund, as long as the customer is willing to assume unsystematic risk and market risk
Answer: C. The customer should be recommended an emerging markets fund, as long as the customer is willing to assume political risk and exchange rate risk
Explanation:
In order to take advantage of the opportunity that presents itself from developing countries outpacing that of the US in years to come, the customer should invest in an Emerging Markets fund. This fund invests in securities from the more rapidly developing countries like China and Brazil so the customer will be poised to take advantage of the opportunities offered by this.
However, they should be wary of Exchange rate risks as their currencies are not as strong as the US dollar and can be unstable.
They also need to worry about political instability as quite a lot of developing countries do not have strong democracies and Economic decisions are influenced by political decisions a bit too much.
Marin operates a manufacturing business, and this year the three-year-old van she used in the business was destroyed in a fire. The van was originally purchased for $23,000 and the adjusted basis was $5,425 at the time of the accident. Although the van was worth $6,300 at the time of accident, insurance only paid Marin $1,575 for the loss. What is the amount of Marin's casualty loss deduction
Answer: $3850
Explanation:
From the question, we are informed that Marin operates a manufacturing business, and this year the three-year-old van she used in the business was destroyed in a fire. We are further told that the van was originally bought for $23,000 and the adjusted basis was $5,425 at the time of the accident and that although the van was worth $6,300 at the time of accident, insurance only paid Marin $1,575 for the loss.
The amount of Marin's casualty loss deduction will be the difference between the adjusted basis and the amount paid to Marin by the insurance company for the loss. This will be:
= $5425 - $1575
= $3850
Which of the following least likely describes a firm that is experiencing economies of scale?
Select the correct answer below
A) A firm produces hand-painted plates. The firm has no fixed costs, any worker for the firm takes the same amount of time to paint one item regardless of how many items they paint, and the firm cannot receive any discounts for ordering raw materials in bulk.
B) In order to manufacture its product, a firm must purchase one very expensive piece of equipment. Once it has that piece of equipment, the firm can produce as much of the product as it wants at almost no additional cost.
C) As the number of workers at a firm increases, the firm has almost unending opportunities to further specialize the tasks its workers complete, and in each case specialization leads to greater efficiency
D) In order to supply a utility to a house, a utility company must connect the house to some part of its existing infrastructure
Answer:C
Explanation:the firm enjoys the numerical advantage of having division of lab our and diversification in job descriptions
Suppose the government taxes the wealthy at a higher rate than it taxes the poor and then develops programs to redistribute the tax revenue from the wealthy to the poor. This redistribution of wealth is a. is more efficient and more equal for society. b. is more efficient but less equal for society. c. is more equal but less efficient for society. is less equal and less efficient for society.
Bridget drinks three soda during a particular day. The marginal benefits she enjoys from drinking the third soda. a. can be thought of as the total benefit Bridget enjoys by drinking three sodas minus the total benefit she would have enjoyed by drinking just two sodas. b. determines Bridget's willingness to pay for the third soda. c. is likely different from the marginal benefit provided to Bridget by the second soda.
Answer:
1. c. is more equal but less efficient for society
2. All of the above
Explanation:
1. When taxes reduce the income going to the wealthy and instead redistributes it to the poorer members of society, it increases equality because the poorer members will have some form of income to bridge the gap between them and the rich. However, this may not be good for the efficiency of the society. This is because increasing the income on the wealthier will both reduce the income they have for investment as well as their willingness to work knowing that they will lose some of their rewards to taxes. These 2 things will reduce the output of the society thereby hurting its efficiency.
2. Marginal benefit in terms of production for instance is the extra benefit gained from producing one extra good. It can therefore be calculated by subtracting the total benefit of all the other produced goods from the total benefits of all produced goods including the additional one. In the same way, the marginal benefit of Bridget drinking the third soda can be thought of as the total benefit Bridget enjoys by drinking three sodas minus the total benefit she would have enjoyed by drinking just two sodas.
The marginal benefit that Bridget will get from drinking the third soda will indeed determine what she will pay for it. If she feels that it costs more to her than what she will benefit, she will not buy.
As more of a good is consumed, the marginal benefit decreases in general and is almost never the same. For Bridget therefore, the marginal benefit of the third soda is likely different from the marginal benefit provided to Bridget by the second soda.
Prescott Football Manufacturing had the following operating results for 2019: sales = $30,174; cost of goods sold = $21,740; depreciation expense = $3,512; interest expense = $544; dividends paid = $849. At the beginning of the year, net fixed assets were $20,046, current assets were $3,029, and current liabilities were $3,776. At the end of the year, net fixed assets were $23,077, current assets were $4,447, and current liabilities were $3,077. The tax rate for 2019 was 21 percent.
a. What is net income for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)Net income $b. What is the operating cash flow for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)Operating cash flow $c. What is the cash flow from assets for 2016? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)Cash flow from assets $Assume no new debt was issued during the year.d. What is the cash flow to creditors for 2016? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)Cash flow to creditors $e. What is the cash flow to stockholders for 2016? (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)Cash flow to stockholders $
Answer:
Prescott Football Manufacturing
a. Net Income for 2019:
2019: sales = $30,174
cost of goods sold = $21,740
depreciation expense = $3,512
interest expense = $544
Pre-tax Income = $4,378
21% Tax = 919-38
Net Income = $3,459
b) Operating cash flow
Net Income = $3,459
Non-cash:
Depreciation Expense 3512
Increase in current assets -1,418
Decrease in current liabilities -699
Net operating cash flow $4,854
c) Cash flow from assets:
Increase in Assets -$3,031`
d) Cash flow to creditors:
Decrease in liabilities -$699
e) Cash flows to stockholders:
Dividends paid = -$849
Explanation:
a) 2019: sales = $30,174
cost of goods sold = $21,740
depreciation expense = $3,512
interest expense = $544
Pre-tax Income = $4,378
21% Tax = 919
Net Income = $3,459
dividends paid = $849.
b) Balance Sheet:
At the beginning of the year,
net fixed assets were $20,046,
current assets were $3,029, and
current liabilities were $3,776.
c) Balance at the end of the year,
At the end of the year,
net fixed assets were $23,077,
current assets were $4,447, and
current liabilities were $3,077.
Prescott Football Manufacturing
Part A:
Net Income for 2016:
Sales = $30,174 Cost of goods sold = $21,740 Depreciation expense = $3,512 Interest expense = $544 Pre-tax Income = $4,378 21% Tax = 919-38Net Income = $3,459
Working Notes:
sales = $30,174 cost of goods sold = $21,740 depreciation expense = $3,512 interest expense = $544 Pre-tax Income = $4,378 21% Tax = 919 Net Income = $3,459 dividends paid = $849.Part B:
Operating cash flow
Net Income = $3,459Non-cash:
Depreciation Expense 3512 Increase in current assets -1,418 Decrease in current liabilities -699 Net operating cash flow $4,854
Working Notes :
At the beginning of the year, Net fixed assets were $20,046, Current assets were $3,029, Current liabilities were $3,776.Part C:
Cash flow from assets:
Increase in Assets -$3,031`
Working Notes :
Balance at the end of the year, At the end of the year, net fixed assets were $23,077, current assets were $4,447, current liabilities were $3,077.
Part D :
Cash flow to creditors:
Decrease in liabilities = -$699
Part E :
Cash flows to stockholders:
Dividends paid =-$849
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In a buying center, __________ affect the buying decision, usually by helping define the specifications for what is bought.
Answer:
Influencers, is the right answer.
Explanation:
In the business-to-business context, all the decisions for buying are made in groups. This group which play an active role in buying decision in a company is called the Decision-Making Unit or DMU. The term buying centre is used to refer to a group of a company which decided the purchase of a good or service for the entire company. Users, influencers, buyers, deciders and gatekeepers are the five main roles in a buying centre. The one who tries to affect the final decision with their opinion is called the influencer.
Suppose the most you would be willing to pay to have a freshly washed car before going out on a date is $8.00. The smallest amount for which you would be willing to wash someone else's car is $5.50. You are going out this evening and your car is dirty. How much economic surplus would you receive from washing it
Answer:
1. The most you would be willing to pay for having a freshly washed car before going out on a
date is $6. The smallest amount for which you would be willing to wash someone else's car is
$3.50. You are going out this evening, and your car is dirty. How much economic surplus
would you receive from washing it?
The economic surplus from washing your dirty car is the benefit you receive from doing so ($6)
minus your cost of doing the job ($3.50), or $2.50.
2. To earn extra money in the summer, you grow tomatoes and sell them at the farmers' market
for 30 cents per pound. By adding compost to your garden, you can increase your yield as
shown in the table below. If compost costs 50 cents per pound and your goal is to make as much
money as possible, how many pounds of compost should you add?
Pounds
of
compost
Pounds
of
tomatoes
Marginal
Cost
($)
Marginal
Benefit
(pounds)
Marginal
Benefit
($)
Net
Benefits
Marginal
Net
Benefits
0 100 ---- 0 --- 0 ---
1 120 0.50 20 6.00 5.50 5.50
2 125 0.50 5 1.50 6.50 1.00
3 128 0.50 3 0.90 6.90 0.40
4 130 0.50 2 0.60 7.00 0.10
5 131 0.50 1 0.30 6.80 - 0.20
6 131.5 0.50 0.5 0.15 6.45 - 0.35
The benefit of adding a pound of compost is the extra revenue you’ll get from the extra tomatoes
that result. The cost of adding a pound of compost is 50 cents. By adding the fourth pound of
compost you’ll get 2 extra pounds of tomatoes, or 60 cents in extra revenue, which more than
covers the 50-cent cost of the extra pound of compost. But adding the fifth pound of compost
gives only 1 extra pound of tomatoes, so the corresponding revenue increase (30 cents) is less than
the cost of the compost. You should add 4 pounds of compost and no more.
3. Residents of your city are charged a fixed weekly fee of $6 for garbage collection. They are
allowed to put out as many cans as they wish. The average household disposes of three cans of
garbage per week under this plan. Now suppose that your city changes to a "tag" system. Each
can of refuse to be collected must have a tag affixed to it. The tags cost $2 each and are not
reusable. What effect do you think the introduction of the tag system will have on the total
quantity of garbage collected in your city? Explain briefly.
In the first case, the cost is $6/week no matter how many cans you put out, so the cost of
disposing of an extra can of garbage is $0. Under the tag system, the cost of putting out an extra
can is $2, regardless of the number of the cans. Since the relevant costs are higher under the tag
system, we would expect this system to reduce the number of cans collected.
Explanation:
Required information Going on a Business Trip to China Business professionals who are high in cultural intelligence possess skills and attributes to work effectively with members of other cultures. They respect, recognize, and appreciate cultural differences; possess curiosity and interest in other cultures; avoid inappropriate stereotypes; adjust conceptions of time and show patience; manage language differences to achieve shared meaning; understand cultural dimensions; establish trust and show empathy across cultures; approach cross-cultural work relationships with a learner mind-set; and build co-cultures of cooperation and innovation. In this exercise, you evaluate the experiences of an operations manager going to China to examine factories and potentially take bids for some of your company's operations. You will notice differences in communication across cultures and analyze the interactions in terms of cultural intelligence and the following cultural dimensions: individualism and collectivism, egalitarianism and hierarchy, future orientation, assertiveness, and humane orientation. Read the case below and answer the questions that follow. Recently, senior managers at Judith Carey's company concluded that some of the company's operations needed to be produced in lower-wage locations for the company to stay profitable. They placed Judith in charge of learning about options in China, a country she had never visited. After several months of making contacts via phone and email, Judith traveled to China to meet some potential manufacturers. She brought two of her staff members along with her on the trip. She also asked Mei, one of the company's sales representatives in China, to join the group and act as an interpreter. Mei had joined the company's sales department in China two years ago. Because she gained a marketing degree in a Canadian university, Mei's English was excellent. The first stop on the trip would be with representatives of the Shunde Manufacturing (SDM) Company, a potential manufacturer for the company's line of dolls. After a long plane trip and a sleepless night at a hotel in Shanghai, Judith started the first day of work in China tired and slightly disoriented. Her team first met the company's president, Bo Chen, and seven other men from SDM for lunch. Judith was seated next to the company's president for the duration of the two-hour lunch, which included course after course of foods Judith had never seen or eaten before. Judith sampled most of the dishes but was clearly uncomfortable. During the meal, the company president asked Judith, "Ms. Carey, what are your impressions of China?" Judith replied, "Well, Bo, I don't really know too much. I'm not quite used to the air here, with all of the pollution. Of course, I've always known about the one-child policy, but not much else. Do you think the policy is fair?" Bo stated, "China and America must solve their problems in their own ways." Then, he talked about the final dish for the meal—a fish. He explained that ending the meal with the fish had special symbolism in China and signaled a prosperous future for their relationship. Near the end of lunch, Bo told Judith, "We'll meet for dinner and a reception later at 6 p.m. I've arranged a tour for you this afternoon. Several of our staff members will take you for a walk along the river, to some beautiful Chinese gardens, and to the Shanghai Museum." Judith was a bit dismayed. She wasn't really in the mood for touring. Rather, she wanted to get down to business, but she obliged for the afternoon tour. During the tour, Judith asked Mei, her interpreter, "What should I do this evening to make sure we can talk about business?" Mei replied, "Tonight, you should make friends with President Chen. Give him a nice toast in front of his employees. Enjoy the wonderful food. Tomorrow you can talk about business." That evening, Judith and her team were taken to a large private room at a restaurant. The SDM Company was now represented by more than 20 employees. Judith and Bo spent most of the dinner discussing family and professional experiences. Judith enjoyed the food, gave a toast mentioning "future cooperation" and thanking "President Chen for his hospitality," and even sang karaoke when invited. The next day, Judith arrived at the company's headquarters. She and her team discussed options for a partnership with SDM representatives for the duration of the day. At the end of the day, both parties agreed to continue their conversations in approximately one month. The first day of the visit is largely spent with lavish banquets and events. Which of the following cultural dimensions can best explain this situation? A-future orientation B-assertiveness C-egalitarianism and hierarchy D-individualism and collectivism
Answer:
The answer is D. individualism and collectivism
Explanation:
Individualism and collectivism looks at the relationship the individual has with others. In high individual ranking, individuality and individual rights are paramount within the society. Judith is from the US where society appreciates a more individualistic attitude and relatively loose bonds with others. On the other hand, Bo is from China where people are integrated from birth into strong cohesive in-groups and the extended family – grandparents, uncles and aunts – is protected in exchange for unquestioned loyalty.
The market for electric cars is growing substantially. By contrast, after recent scandals involving high pollution levels, Diesel cars are becoming less popular and may eventually leave the market entirely. Diesel cars appear to be in the ____ stage of the product life cycle.
Answer:
decline.
Explanation:
The decline stage of the product's life cycle is marked by declining sales and product profitability. Generally, in this phase, the product begins to be replaced by new technologies, becomes outdated and goes into disuse.
It is important for companies to be aware that when entering this phase, the product needs redesign planning, so that improvements are implemented that make it updated to be relaunched in the market and then start another life cycle.
You Save Bank has a unique account. If you deposit $8,000 today, the bank will pay you an annual interest rate of 3 percent for 5 years, 3.6 percent for 4 years, and 4.3 percent for 8 years. How much will you have in your account in 17 years
Answer:
Total money after 17 years = $14962
Explanation:
Given present value or mount deposited today = $8000
Annual interest rate for 5 years = 3 %
Annual interest rate for 4 years = 3.6 %
Annual interest rate for 8 years = 4.3 %
Now we have to calculate the total amount after 17 years. Below is the calculation.
[tex]Total \ amount = 8000(1 + 0.03)^{5} (1+ 0.036) ^{4} (1+ 0.043 ) ^{8} \\Total \ amount = $14962[/tex]
Dartford Company reported the following financial data for one of its divisions for the year; average investment center total assets of $4,100,000; investment center income $700,000; a target income of 12% of average invested assets. The residual income for the division is:
Answer:
$208,000
Explanation:
Calculation for Dartford Company residual income
Using this formula
Residual income=Investment center income -(Target income percentage of average invested assets ×Average investment center total assets)
Let plug in the formula
Residual income =$700,000-(12%×$4,100,000)
Residual income =$700,000 - $492,000
Residual income =$208,000
Therefore The residual income for the division is: $208,000
The company United Usury Services advertises credit terms that are not actually available. Rather, they are used merely to attract potential buyers. This practice is known as
Answer:
Bait and switch advertising
Explanation:
Bait-and-switch advertising refers to a situation in which a company advertises a good or service at a low price and when customers try to buy the product or service, they find out that it is not available and then, the company try to convince the customers to buy something different that is more expensive. According to this, the answer is that this practice is known as bait and switch advertising because United Usury Services advertised credit terms that they were not actually providing to find people interested and offer them something else.
You often find that employees choose a health care plan without carefully considering their options. In fact, sometimes employees realize they are spending too much for health care or that they lack health care options, and they end up blaming you for not informing them sufficiently of their options ahead of time. You want employees to attend the fair and take the time to carefully weigh their options. Which of the following statements is most likely to attract employees to the fair to do so?
A. This presentation helps you choose which of the five health insurance options works best for your family.
B. This presentation discusses the relative benefits and costs of each health care option.
C. In this presentation, we provide you with the answers you need about the five health insurance options.
Answer: This presentation helps you choose which of the five health insurance options works best for your family.
Explanation:
From the question, we are informed that employees usually choose a health care plan without carefully considering their options and they end up blaming someone else for not informing them sufficiently of their options ahead of time.
Due to this reason, the person want the employees to attend a fair and take the time to carefully weigh their options. Of the options given, the correct answer is that "this presentation helps you choose which of the five health insurance options works best for your family".
Emphasis is been placed on choice as the employees can choose what works best for them. A simple language is also used to pass the message across.
When an organization has an annual ceremony to reward the past year’s outstanding employees, this ritual is a manifestation of the organization's culture called a(n) _______. Group of answer choices
Answer:
Espoused value.
Explanation:
The espoused value can be defined as the values expressed on behalf of the organization. For example, the set of practices and procedures adopted by employees of an organization that provide positive results and value for a company.
Therefore, when an organization holds a ceremony to reward outstanding employees of the year, it is manifesting and promoting in the organizational culture the maintenance of moral conduct and corporate values necessary to maintain and enhance positive standards of conduct to achieve organizational success .
There are zero coupon bonds outstanding that have a YTM of 5.97 percent and mature in 19 years. The bonds have a par value of $10,000. If we assume semiannual compounding, what is the price of the bonds
Answer:
market price = $1,104.20
Explanation:
yield to maturity of zero coupon bonds = (face value / market price)¹/ⁿ - 1
YTM = 5.97%n = 19 x 2 = 38face value = $10,000(face value / market price)¹/ⁿ = YTM + 1
face value / market price = (YTM + 1)ⁿ
market price = face value / (YTM + 1)ⁿ
market price = $10,000 / 1.0597³⁸ = $10,000 / 9.0563 = $1,104.20
Single plantwide factory overhead rate Bach Instruments Inc. makes three musical instruments: flutes, clarinets, and oboes. The budgeted factory overhead cost is $126,480. Overhead is allocated to the three products on the basis of direct labor hours. The products have the following budgeted production volume and direct labor hours per unit: Budgeted Production Volume Direct Labor Hours Per Unit Flutes 2,100 units 0.4 Clarinets 800 1.5 Oboes 1,400 1.2 If required, round all per unit answers to the nearest cent. a. Determine the single plantwide overhead rate. $ per direct labor hour b. Use the overhead rate in (a) to determine the amount of total and per-unit overhead allocated to each of the three products. Total Factory Overhead Cost Per Unit Factory Overhead Cost Flutes $ $ Clarinets Oboes Total $
Answer:
Bach Instruments Inc.
a. Single plantwide factory overhead rate:
= Total overhead/total labor hours = $126,480/3,720 = $34 per hour
b. Total Factory Overhead Cost
Labor Per Unit Cost Product units Total Costs
Hours (Labor hours x $34) per product
Flutes 0.4 $13.60 2,100 $28,560
Clarinets 1.5 51.00 800 40,800
Oboes 1.2 40.80 1,200 57,120
Total $126,480
Explanation:
a) Data & Calculations:
Budgeted factory overhead = $126,480
Budgeted Direct labor Total
Production Volume hours per unit Hours
Flutes 2,100 units 0.4 840
Clarinets 800 1.5 1,200
Oboes 1,400 1.2 1,680
Total hours 3,720
c) Plantwide overhead allocation per unit = $126,480/3,720 = $34
d) The plantwide overhead rate is the dividend from total overhead costs and total labor hours. This rate is applied to the products based on the number of hours used to product a unit to obtain the per unit cost rate for each product. The resulting rate is further applied to the units produced in each product type to get the total cost of overhead for each product.
A current account deficit implies that A. exports of goods and services exceed imports of goods and services. B. secondary income is positive. C. the financial account is in surplus. D. the financial account is negative.
Answer:
D. the financial account is negative.
Explanation:
A current account deficit occurs when import exceeds export
A current account surplus implies that exports of goods and services exceed imports of goods and services. the financial account is in surplus
I hope my answer helps you
Zhao Co. has fixed costs of $403,200. Its single product sells for $183 per unit, and variable costs are $120 per unit. If the company expects sales of 10,000 units, compute its margin of safety in dollars and as a percent of expected sales.
Answer:
Margin of safety in dollars = $658800
Margin of safety percentage = 0.36 or 36%
Explanation:
The margin of safety in dollars is the number of revenue that a business earns in excess of its break even level of revenue. Thus, the formula for the margin of safety in dollars is,
Margin of safety in dollars = Revenue at current sales level - Revenue at break even sales level
We must first determine the level of sales at the break even point.
The break even point in dollars can be calculated as follows,
Break even in dollars = Fixed cost / Contribution margin ratio
Where,
Contribution margin ratio = (Selling price per unit - Variable cost per unit) / Selling price per unit
Break even in dollars = 403200 / [(183 - 120) / 183]
Break even in dollars = $1171200
Margin of safety in dollars = (10000 * 183) - 1171200
Margin of safety in dollars = $658800
Break even point in units = 1171200 / 183 = 6400 units
Margin of safety as a percentage of expected sales is,
Margin of safety percentage = (10000 - 6400) / 10000
Margin of safety percentage = 0.36 or 36%
Matthews Fender, which uses a standard cost system, manufactured 20 comma 000 boat fenders during 2018, using 143 comma 000 square feet of extruded vinyl purchased at $ 1.30 per square foot. Production required 400 direct labor hours that cost $ 16.00 per hour. The direct materials standard was seven square feet of vinyl per fender, at a standard cost of $ 1.35 per square foot. The labor standard was 0.028 direct labor hour per fender, at a standard cost of $ 15.00 per hour. Complete the costs and efficiency variances for Direct materials and direct labor. Does the pattern of variances suggest Pro Fender's managers have been making trade-offs? Explain.
Answer:
Its hard to ans
Explanation: