Answer:
d. $132,000
Explanation:
Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.
$100,000 + $40,000 * 80% = $132,000
Bob Jensen Inc. purchased a $650,000 machine to manufacture specialty taps for electrical equipment. Jensen expects to sell all it can manufacture in the next 10 years. To encourage capital investments, the government has exempted taxes on profits from new investments. This legislation is to be in effect for the foreseeable future. The machine is expected to have a 10-year useful life with no salvage value. Jensen uses straight-line depreciation. Jensen uses a 10% discount rate in evaluating capital investments, the investment is subject to taxes, and the projected pretax operating cash inflows are as follows:
Data
Purchase price of machine $650,000
Expected useful life in years 10
Expected net cash inflow per year $150,000
Discount rate 12%
Required:
Compute the payback period, under the assumption that cash inflows occur evenly throughout the year.
Answer:
?????????????????????
Explanation:
Cash Flows from Investing Activities would involve all of the following except:
A. The purchase of buildings.
B. The receipt of interest income on short-term investments.
C. The purchase of marketable securities.
D. The proceeds from the sale of equipment.
Answer:
B
Explanation:
there are three types of cash flows:
1. Investing cash flow - It involves the use of long term cash. it is the cash flow generated from the purchase and sale of fixed asset e.g. Sale of plant assets.
2. operating cash flow - it shows the net amount of cash generated from a company's normal business operation
3. financing cash flow - it shows the net amount of funding a company receives over a given period e.g. issuance of common stock
On-The-Go Merchandiser sells luxury carry-on travel bags for $1,200 each. The firm's fixed operating costs are $600,000 when 5,000 or fewer bags are produced, and its variable cost ratio is 80 percent (i.e., variable cost per unit is 80 percent of the selling price). What is On-The-Go's operating breakeven point
Answer:
On-The-Go Merchandiser
Operating break-even point:
a) in sales dollars = $3,000,000
b) in sales unit = 2,500 units
Explanation:
a) Data and Calculations:
Selling price per unit = $1,200
Fixed operating costs = $600,000
Capacity level = 5,000
Variable cost ratio = 80%
Variable cost per unit = $960 ($1,200 * 80%)
Contribution margin per unit = $240 ($1,200 - $960)
Contribution margin ratio = $240/$1,200 = 0.2
Operating break-even point:
a) in sales dollars = Fixed operating costs/Contribution margin ratio
= $600,000/0.2 = $3,000,000
b) in sales unit = Fixed operating costs/Contribution margin per unit
= $600,000/$240 = 2,500 units
An insurance company is obligated to pay a policyholder $500 in one year and $2,000 in 3 years. The insurance company has decided to employ the dedication strategy. The following assets are available: 1 year zero coupon bond with annual effective yield of 7%. 3 year zero coupon bond with annual effective yield of 8%. Determine the cost of establishing the asset portfolio.
Answer:
The total cost of establishing the portfolio is $2054.95.
Explanation:
The present value of a bond is given as
[tex]PV=FV\times\dfrac{1}{(1+r)^n}[/tex]
For 1 year zero-coupon bond is
FV is 500r is 7% or 0.07n is 1So the value is
[tex]PV=FV\times\dfrac{1}{(1+r)^n}\\PV=500\times\dfrac{1}{(1+0.07)^1}\\PV=500\times\dfrac{1}{(1.07)}\\PV=500\times0.9346\\PV=\$ 467.29[/tex]
Similarly, for 3 years zero-coupon bond is
FV is 2000r is 8% or 0.07n is 3So the value is
[tex]PV=FV\times\dfrac{1}{(1+r)^n}\\PV=2000\times\dfrac{1}{(1+0.08)^3}\\PV=2000\times\dfrac{1}{(1.08)^3}\\PV=2000\times0.7938\\PV=\$ 1587.66[/tex]
So the total cost is
Total Cost=Cost of 1-year zero-coupon bond+Cost of 3-years zero-coupon bond
Total Cost=$ 467.29+$ 1587.66
Total Cost= $ 2054.95
So the total cost of establishing the portfolio is $2054.95.
Copy Center pays an average wage of $13 per hour to employees for printing and copying jobs, and allocates $19 of overhead for each employee hour worked. Direct materials are assigned to each job according to actual cost. If Job M-47 used $365 of direct materials and took 15 direct labor hours of labor to complete, what is the total cost that should be assigned to the job
Answer:
See below
Explanation:
Given that:
Direct materials = $365
Direct labor = ($13 × 15) = $195
Factory overhead = ($19 × 15) = $285
Total cost is computed as
= Direct material + Direct labor + Factory overhead
= $365 + ($13 × 15) + ($19 × 15)
= $365 + $195 + $285
= $845
Therefore the total cost that should be assigned to the job is $845
any waste material on the floor should be
Answer:
Cleaned...it's waste
ABC issues 1,000 shares of 6%, $100 par value preferred stock at the beginning of 2017. All remaining shares are common stock. The company was not able to pay dividends in 2017, but plans to pay dividends of $18,000 in 2018. Assuming the preferred stock is noncumulative, how much of the $18,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders in 2018
Answer and Explanation:
The computation of the dividend paid to preferred stockholder and common stockholder is given below;
Since the preference dividend would be
= 1,000 shares × $100 × 6%
= $6,000
For 2 years, it would be $12,000
Now the remaining shares left is
= $18,000 - $12,000
= $6,000
hence, the dividend paid to preferred stockholder and common stockholder is $12,000 and $6,000 respectively
Stunning Motors, Ltd. makes economy autos for the world market. Stunning has decided to branch out and produce economical, fuel efficient motor bikes. They are exploring a joint venture With Bay Bikes, a Chinese motorbike company active in the Chinese market. In the meantime, before any formal agreement on a joint venture is reached, Bay Bikes is working with Stunning's R&D engineers to create a feasibility study on the Chinese market potential. This is an example of ___________
a. product differentiation
b. non-equity-based strategic alliance
c. sole proprietorship
d. entrepreneurial orientation
Answer:
b. non-equity-based strategic alliance
Explanation:
In the case of the non-equity strategic alliance, the organizations develop the agreement for sharing the resources without developing the distinct entity or equity i.e. shared.
Non-equity alliances are considered to be loose and not formal as compared to the partnership involving equity.
So as per the given situation, the option b is correct
Carrolton Oil and Gas, an independent oil and gas producer, is approved to use a 20% of gross in-come depletion allowance. The write-off last year was $700,000 on its horizontal directional drill wells. Determine the estimated total reserves in barrels if the volume pumped last year amounted to 1% of the total and the delivered-product price averaged $75 per barrel.
Answer: 5,000,000 barrels
Explanation:
First, we need to calculate the last year income which will be:
= $700,000 / 20%
= $700,000 / 0.2
= $3,500,000
Since the average price is $75, the total barrels sold last year was:
= $3,500,000 / 70
= 50,000 barrels
Since it's 1% of the total reserve, then the total reserve will be
= 50,000 / 1%
= 50,000 / 0.01
= 5,000,000 barrels
The journal entry to record June production activities for direct material usage is: Debit Raw Materials Inventory $87,000; credit Accounts Payable $87,000. Debit Raw Materials Inventory $87,000; credit Finished Goods Inventory $87,000. Debit Work in Process Inventory $87,000; credit Raw Materials Inventory $87,000. Debit Work in Process Inventory $87,000; credit Cost of Goods Sold $87,000.
Answer:
Debit Work in Process Inventory $87,000; credit Raw Materials Inventory $87,000
Explanation:
The journal entry to record the usage of the direct material is
work in process inventory $87,000
To raw material inventory $87,000
(Being the usage of the direct material is recorded)
here the work in process inventory is debited as it increased the assets and credited the raw material inventory as it decreased the assets
Therefore the third option is correct
Key Corporation is considering the addition of a new product. The expected cost and revenue data for the new product are as follows: Annual sales 2,500 units Selling price per unit $ 304 Variable costs per unit: Production $ 125 Selling $ 49 Avoidable fixed costs per year: Production $ 50,000 Selling $ 75,000 Allocated common fixed corporate costs per year $ 55,000 If the new product is added, the combined contribution margin of the other, existing products is expected to drop $65,000 per year. Total common fixed corporate costs would be unaffected by the decision of whether to add the new product. At what selling price would the new product be just breaking even
The Key Corporation's selling price for the new product to break even should be $272.
Data and Calculations:
Annual sales = 2,500 units
Selling price per unit = $304
Variable costs per unit:
Production $ 125
Selling $ 49
Variable costs per unit = $174 ($125+ $49)
The total variable costs for 2,500 units = $435,000 (2,500 x $174).
Avoidable fixed costs per year:
Production $ 50,000
Selling $ 75,000
The total Avoidable fixed costs = $125,000 ($ 75,000 + $50,000).
Allocated common fixed = $55,000
Loss of contribution margin = $65,000
The total common fixed costs = $120,000 ($65,000 + $55,000).
The total fixed costs (Avoidable and Common) = $245,000 ($125,000 + $120,000).
Key Corporation incurs a total production cost for 2,500 units in the year = $680,000 ($435,000 + $245,000).
Thus, for Key Corporation to break even, the selling price should be = $272 ($680,000/2,500).
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10 POINTS!!!! PERSONAL FINANCE// WILL GIVE BRAINLIEST
Starting a small business or engaging in gambling are pure risks because both offer the possibility of success and/or failure.
A.
True
B.
False
B. False
Since both starting a small business and engaging in gambling offer the potential for both success and failure, they cannot be considered pure risks.
Starting a small business and engaging in gambling are not considered pure risks. Let's understand the concepts of pure risk and the nature of these activities to see why this statement is false.
Pure risk refers to situations where there is only the possibility of loss or no loss, but no possibility of gain. Examples of pure risk include natural disasters, accidents, and illness. In these cases, there is no opportunity for financial gain, only the potential for financial loss.
On the other hand, both starting a small business and engaging in gambling involve the possibility of both success and failure. In a small business, there is an opportunity for financial gain through successful operations, attracting customers, and generating profits. However, there is also the risk of failure, where the business may not generate enough revenue or face challenges that lead to financial loss.
Similarly, gambling involves the possibility of winning money, which is a potential gain. However, there is also the risk of losing money, which is a potential loss.
Option B is the correct answer.
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Identify an example of an obstacle to the success of global information system. a. An organization might be unable to develop products that appeal to customers in all countries. b. An organization might have the resources to implement a worldwide integrated system but not be able to change an existing telecommunication infrastructure. c. An organization might use training and education to train analysts. d. An organization might adjust content on their Web site to address cultural differences in different countries.
Answer:
b. An organization might have the resources to implement a worldwide integrated system but not be able to change an existing telecommunication infrastructure.
Explanation:
An information system interacts with the overall system by receiving data in its raw forms and information in a usable format.
Information system can be defined as a set of components or computer systems, which is used to collect, store, and process data, as well as dissemination of information, knowledge, and distribution of digital products.
Generally, it is an integral part of human life because individuals, organizations, and institutions rely on information systems in order to perform their duties, functions or tasks and to manage their operations effectively. For example, all organizations make use of information systems for supply chain management, process financial accounts, manage their workforce, and as a marketing channels to reach their customers or potential customers.
Additionally, an information system comprises of five (5) main components;
1. Hardware.
2. Software.
3. Database.
4. Human resources.
5. Telecommunications.
Hence, the information system relies on the data it receives from its environment, processes this data into formats that are usable by the end users.
Similarly, a global information system avails end users the ability to interact and connect across the world, irrespective of their location.
An example of an obstacle to the success of global information system is that, an organization might have the resources to implement a worldwide integrated system but not be able to change an existing telecommunication infrastructure. This may be due to factors such as costs, span of control, amount of users, topology, etc.
Refer to Exhibit 16-5. If a positive externality exists, then curve 1 represents the ____, curve 2 represents the ____, curve 3 represents the ____ and Q1 represents the ____.
Answer:
Curve 1 - Marginal private cost curve
Curve 2 - demand curve
Curve 3 - Marginal Social Benefit Curve
Q1 - Market Output
Explanation:
Marginal cost is the cost for one additional unit production. It is U shaped because when more units are produced the marginal cost will decline. When more units are produced and sold the marginal cost will be lower. There fore demand curve should be inclining when marginal cost needs to be lower.
Hammerstein Corporation offers a variety of share-based compensation plans to employees. Under its restricted stock award plan, the company, on January 1, 2021, granted 2 million of its $1 par common shares to various division managers. The shares are subject to forfeiture if employment is terminated within four years. The common shares have a market price of $20.8 per share on the award date. Required: 1. Determine the total compensation cost from these restricted shares. 2.
Answer:
1. $41,600,000
2. No Entry
3. Dr Compensation Expense 10,400,000
Cr Paid-In-Capital- Restricted Stock 10,400,000
4.$35,360,000.
Explanation:
1. Calculation to the total compensation cost from these restricted shares.
Total compensation cost =$20.8 * 2M Shares
Total compensation cost = $41,600,000
Therefore the total compensation cost from these restricted shares is $41,600,000
2. & 3. Preparation of the appropriate journal entries
2. No Entry
3. Dr Compensation Expense 10,400,000
($41,600,000/ 4yrs)
Cr Paid-In-Capital- Restricted Stock 10,400,000
4. Calculation to determine the total compensation cost, assuming the company follows the fair value approac
Total compensation cost=$20 * 2M Shares * (100%-15%)
Total compensation cost=$20 * 2M Shares * 85%
Total compensation cost= $41,600,000*85%
Total compensation cost= $35,360,000
Therefore the total compensation cost, assuming the company follows the fair value approach is $35,360,000
Which of the following is not an advantage of delegating authority at Red Frog Events?
a
Delegation helps develop subordinates
b
Subordinates learn how to make decisions
c
Some managers are too disorganized to delegate appropriately
d
An event manager can get more work done
Answer:
c. Some managers are too disorganized to delegate appropriately
Explanation:
Generally, the advantage of delegating authority in a firm can be numerous. Hence, considering the question, the benefit of delegating authority at Red Frog Events is no different.
Therefore, considering the available options, the statement that is NOT an advantage of delegating authority at Red Frog Events is "Some managers are too disorganized to delegate appropriately."
In contrast, some of the advantages of delegating authority are:
1. Delegation helps develop subordinates: as subordinates take more authority in some cases, they grow in decision-making and overall growth.
2. Subordinates learn how to make decisions: as subordinates are allowed to make decisions, they learn to understand how to make proper decisions
3. An event manager can get more work done: when subordinates are delegated with authority, it helps the manager focus more on other areas that need his attention, thereby getting more work done.
A financial manager's goal of maximizing current or short-term earnings may not be appropriate because:___________.
A. it fails to consider the timing of the benefits.
B. increased earnings may be accompanied by unacceptably higher levels of risk.
C. earnings are subjective; they can be defined in various ways such as accounting or economic earnings.
D. all of the other answers are correct
Answer:
The correct answer is the option D: All of the other answers are correct.
Explanation:
To begin with, the fact that it is not reasonable to think in short periods of time when it comes to business management is because basically the short term earnings can be very subjective principally depending on how the company define it, being the accounting and the economic ways of doing it very different and impacting differently as well on the company's way of thinking. Moreover, a company's primary focus must always be on the long run due to the timing that the benefits really impact in the company's accounts and therefore in the pocket of the shareholders or owners.
Luker Corporation uses a process costing system. The company had $174,500 of beginning Finished Goods Inventory on October 1. It transferred in $851,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $172,200. The entry to account for the cost of goods manufactured during October is:
Answer:
See below
Explanation:
Given:
Beginning finished goods inventory
$174,500
Add: transfer units completed during the period
$851,000
Less: Ending finished goods inventory
($172,200)
Cost of goods sold
$853,300
Journal entry
Cost of goods sold Dr $853,300
-------------- Finished goods Cr $853,300
Cost of goods sold is only recorded when sales of products are made.
Rounding in the calculation of monthly interest rates is discouraged. Such rounding can lead to answers different from those presented here. For long-term loans, the differences may be pronounced. Assume that you take out a $2000 loan for 30 months at 9% APR. How much of the first month's payment is interest
Answer:
the first month payment of interest is $74.70
Explanation:
The computation of the first month payment of interest is shown below
Given that
PV = $2,000
NPER = 30
RATE = 9% ÷ 12 = 0.75%
FV = $0
The formula is given below:
= -PMT(RATE;NPER;PV;FV;TYPE)
After applying the above formula, the monthly interest payment is $74.70
hence, the first month payment of interest is $74.70
Wainwright Corporation had the following activities in 2020. Sale of land for $120,000. Purchase of inventory for $645,000. Purchase of treasury stock for $52,000. Purchase of equipment for $315,000. Issuance of common stock for $620,000. Sale of available-for-sale debt securities for $85,000. Compute the amount Wainwright should report as net cash provided (used) by investing activities in its 2020 statement of cash flows.
Answer:
net cash used by investing activities = $280,000
Explanation:
Cash flow from Investing Activities :
Proceeds from Sale of Land $120,000
Purchase of Equipment ($315,000)
Proceeds from Sale of debt securities ($85,000)
Net Cash used by Investing activities ($280,000)
therefore,
Wainwright should report as net cash used by investing activities in its 2020 statement of cash flows of $280,000
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 $10,370 and that the associated rate variance was $340 unfavorable. If 5,900 machine-hours were actually worked during July, the standard maintenance cost per machine-hour was:
Answer:
See below
Explanation:
$10,370 - $340 = $10,030
For 2020, X Company's production budget was 3,500 units of finished product, and the budget for direct material costs was $24,080. Actual production in 2020 was 2,500 units of finished product, and actual direct material costs were $17,230. What was the static budget for direct material costs in 2020
Answer: $24,080
Explanation:
The Static budget is based on a particular level of production and once it is prepared, it does not change even if the assumptions used in the calculation of the budget changes.
In this case, the budgeted direct material cost is $24,080 for a production level of 3,500 units of finished goods. This material cost is therefore based on a certain production level which makes it the static budgeted amount for materials.
Understanding Relationships between Overhead Variances, Budgeted Amounts, and Actual Units Produced and Direct Labor Hours Worked Last year, Gladner Company had planned to produce 140,000 units. However, 143,000 units were actually produced. The company uses direct labor hours to assign overhead to products. Each unit requires 0.9 standard hour of labor for completion. The fixed overhead rate was $11 per direct labor hour, and the variable overhead rate was $6.36 per direct labor hour. The following variances were computed:
Fixed overhead spending variance $24,000 U
Variable overhead spending variance $9,196 U
Fixed overhead volume variance 29,700 F
Variable overhead efficiency variance 1,272 U
Required:
1. Calculate the total applied fixed overhead.
2. Calculate the budgeted fixed overhead.
3. Calculate the actual fixed overhead.
4. Calculate the total applied variable overhead.
5. Calculate the number of actual direct labor hours.
6. Calculate the actual variable overhead.
Answer:
Explanation:
1) Fixed Overhead applied = Actual unit produced * Standard hour * Direct labor hour
Fixed Overhead applied = 143,000 * 0.9 * $11
Fixed Overhead applied = $1,415,700
2) Budgeted fixed overhead = 140,000 * 0 .9 * $11
Budgeted fixed overhead = $1,386,000
3) Actual fixed overhead = Spending variance + Budgeted overhead
Actual fixed overhead = $24,000 + $1,386,000
Actual fixed overhead = $1,410,000
4) Applied variable overhead = 143000*0.9*$6.36
Applied variable overhead = $818,532
5) Variable efficiency variance = (AH*SR) - (SH*SR)
1272 = (AH * 6.36) - 818,532
1272 + 818,532 = AH *6.36
AH = 819804/ 6.36
Actual hours = 128,900 hours
6) Variable spending variance = AH*(AR -SR)
9196 = 128,900( AR - 6.36)
9196 /128,900 = AR - 6.36
0.07134 = AR - 6.36
AR = 0.07134 + 6.36
AR = $6.43 per labor hour
Actual overhead = $6.43 * 128,900
Actual overhead= $828,827
1.
Total fixed Overhead applied is
= 143000 × .9 × 11
= $ 1,415,700
2.
Budgeted fixed overhead is
= 140,000 × .9 × 11
= $ 1,386,000
3.
The actual fixed overhead is
= Spending variance + Budgeted overhead
= $24000 + $ 1,386,000
= $ 1,410,000
4.
The total applied variable overhead is
= 143000 × .9 × 6.36
= $818,532
5.
The variable efficiency variance = (Actual hours × Standard rate) - (Standard hours × Standard rate)
1272 = (Actual hours × 6.36 ) - 818,532
1272 +818,532 = Actual hours × 6.36
Actual hours = 819804÷ 6.36
= 128,900 hours
6.
The actual variable spending variance = Actual Hours(Actual rate -Standard rate)
9196 = 128,900(Actual rate - 6.36)
9196 ÷ 128,900 = Actual rate - 6.36
0.07134 = Actual rate - 6.36
Actual rate = 0.07134 + 6.36
= 6.43 Per labor hour
Now
Actual overhead = 6.43 × 128,900
= $828,827
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Valdez Company is considering eliminating its kitchen division, which reported an operating loss of $53,000 for the past year. Kitchen division sales for the year were $1,040,000, and its variable costs were $775,000. The fixed costs of the division were $318,000. If the kitchen division is dropped, 60% of the foxed costs allocated to it could be eliminated. The impact on Valdez's operating income from eliminating this business segment would be:________
Answer:
$200,000
Explanation:
The impact on Valdez's operating income from eliminating this business segment would be:
= Saving in fixed costs - Loss of contribution margin
= ($775,000*60%) - ($1,040,000 - $775,000)
= $465,000 - $265,000
= $200,000
A project has a beta of 0.83, the risk-free rate is 2.9%, and the market risk premium is 6.5%. The project's expected rate of return is ____%.
Answer:
The project's expected rate of return is 8.3%
Explanation:
The following question would be solved using the CAPM (Capital Asset Pricing Module) formulae, which is calculated as follows:
Ra = Rrf + [Ba x (Rm - Rrf)}
Where:
Ra = Project's Expected rate of return
Rrf = Risk-free rate
Ba = Beta
Rm = Expected return of the market
Note: We have been provided with risk premium which is calculated by deducting Risk-free rate from Expected return of the market (Rm - Rrf = Risk premium).
Ra = 2.9% + [0.83 x 6.5%]
Ra = 2.9% + 5.4% (rounded off from 5.395%)
Ra = 8.3%
what is responsibility accounting perspective?
Answer:
Responsibility accounting involves the separate reporting of revenues and expenses for each responsibility center in a business. Doing so improves the management of operations.
Answer:
[tex] \huge{ \boxed{ \boxed{ \tt{answer}}}}[/tex]
The term responsibility accounting refers to an accounting system that collects, summarizes, and reports accounting data relating to the responsibilities of individual managers.#Carryonlearning
Consider the market for seedless green grapes. The current price of a pound of seedless green grapes is $3. Two consumers, Leyla and Margaret, are willing to pay $4 and $5, respectively, for a pound of seedless green grapes. Two farmers are willing to sell seedless green grapes for as little as $2 and $3 per pound. How much is the consumer surplus in this market assuming each consumer purchases one pound of grapes and each farmer sells one pound of grapes
Answer:
$3
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Consumer surplus of Leyla = $4 - $3 = $1
Consumer surplus of Margaret = $5 - $3 = $2
total surplus = $1 + $2 = $3
Riley has worked for Centrum Springs, Inc., for many years and has now been given the opportunity to advance in the company. His manager is retiring and hopes that Riley will take over for him. However, even though Riley is an experienced employee, there are many things that he still needs to learn. Riley has trained many new employees, but he has never held a management position. Riley needs to have a general understanding of what it takes to be a manager. There are many problems in Riley's department. There are no plans to fall back on in case the initial plan fails. Riley also will need to learn how to direct people in such a way that makes them want to do more than they absolutely have to. Riley feels that this is a great opportunity, and he is anxious to learn everything to be a great manager. He knows that if he performs well in this position, he will have the opportunity to move up the corporate ladder.
Refer to Centrum Springs, Inc. Riley's usual duties represent which of these areas?
a. Financial management
b. Operations management
c. Marketing management
d. Human resources management
e. Administrative management
Answer:
B. I hope i helped!
Explanation:
Use the table below to answer the question. Price Quantity Supplied of T-shirts Quantity Demanded of T-shirts $5 0 300 $10 100 100 $25 300 50 $50 400 0 The equilibrium price for T-shirts is _____. $5 $10 $25
Answer:
The equilibrium price for T-shirts is $10
Explanation:
The equilibrium price refers to the price at which the quantity demanded equals quantity supplied as an equilibrium is a point where the market demand is met by market supply at a certain price. We can see that at price $5, the market is willing to supply 0 T-Shirts while the quantity demanded at this price is 300. However, at price $10, the market is supplied with 100 T-Shirts and the quantity demanded in market at this price is also 100. Thus the market is in equilibrium when price is $10.
You are considering investing in a bank account that pays a nominal annual rate of 7%, compounded monthly. If you invest $3,000 at the end of each month, how many months will it take for your account to grow to $150,000?
Answer:
44 months
Explanation:
RATE = 7%/12
PMT = -3000
PV = $0
FV = 150000
We solve for Nper using MsExcel.
No of months = NPER(Rate, -Pmt, Pv, Fv)
No of months = NPER(7%/12, -3000, 0, 150000)
No of months = 44.00213535
No of months = 44
So, it take 44 months for the account to grow to $150,000.