Answer:
D. Smith is incorrect, because Benson paid part of the purchase price and took possession.
Explanation:
Since in the question, there is a contract between the Smith and Benson for the sale of land but after paying the $400,000 the Benson takes the land possession. but according to the Smith it is an unenforceable contract under the statute of frauds.
So as Benson pay the amount of $400,000 and take the possession so in this case the Simon is incorrect
Hence, the option d is correct
Put'er There manufactures baseball gloves. Each glove requires $22 of direct materials and $18 of direct labor. Variable manufacturing overhead cost is $7 per unit and fixed manufacturing overhead cost is $19,000 in total. Variable selling and administrative costs are $11 per unit sold and fixed selling and administrative costs are $13,200. Last period, 800 gloves were produced, and 585 gloves were sold. The unit product cost is:_______.
a. $70.75 per unit.
b. $47 per unit.
c. $58 per unit.
d. $81.75 per unit.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Each glove requires $22 of direct materials and $18 of direct labor. Variable manufacturing overhead cost is $7 per unit and fixed manufacturing overhead cost is $19,000 in total.
There are two methods to calculate the unitary production costs. The variable costing method and the absorption costing method.
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Variable costing method:
Unitary product cost= 22 + 18 + 7= $47
Absorption costing method:
Unitary fixed costs= 19,000/800= 23.75
Unitary product cost= 47 + 23.75= $70.75
A Notary Signing Agent consistently follows the practice of obtaining borrowers’ thumbprints in his or her journal, but is commissioned in a state that does not require journal thumbprints. A borrower has complied with all other notarization requirements, but objects to leaving her thumbprint in the journal. What should the Notary Signing Agent do?
Answer:
the Notary Signing Agent should just complete the Signing assignment
Explanation:
In this specific scenario, the Notary Signing Agent should just complete the Signing assignment. This is mainly due to the fact that the Notary agent is commissioned in a state that does not require journal thumbprints, therefore since the borrower has all the correct paperwork requirements the Notary agent would not be breaking any laws by completing the signing assignment, even though it breaks his consistent practice.
Abby sells real property for $300,000. The buyer pays $5,000 in property taxes that had accrued during the year while the property was still legally owned by Abby. In addition, Abby pays $15,000 in commissions and $3,000 in legal fees in connection with the sale. How much does Abby realize (the amount realized) from the sale of her property? a.$287,000 b.$300,000 c.$282,000 d.$277,000
Answer:
a. $287,000
Explanation:
According to the given situation, the computation of the amount realized is shown below:-
Amount realized = Sale value consideration + Property taxes paid by the buyer - Commission - Legal fees
= $300,000 + $5,000 - $15,000 - $3,000
= $305,000 - $18,000
= $287,000
Therefore for computing the amount realized we simply above formula.
hoose the statement that is incorrect. A. The consensus is that the crowding-out effect is strong enough to make the government expenditure multiplier less than 1. B. The government expenditure multiplier is the quantitative effect of a change in government expenditure on real GDP. C. The tax multiplier is the quantitative effect of a change in taxes on real GDP. D. The demand-side effects of a tax cut are likely to be larger than an equivalent increase in government expenditure
Answer: D. The demand-side effects of a tax cut are likely to be larger than an equivalent increase in government expenditure
Explanation:
There is now a consensus amongst economists that an increase in Government spending will have larger demand-side effects than a tax cut. This is because Government spending goes directly into the economy and stimulates growth through the ripple effect that it has that will see money multiplied.
Tax cuts on the other hand are only effective if consumers either consume the tax savings or invest them. While they will do this for most of the savings, there is a high probability that they will save some of them instead of spending them.
Mr. Torres has a small savings account. He would like to pay for his monthly Part D premiums with an automatic monthly withdrawal from his savings account until it is exhausted, and then have his premiums withheld from his Social Security check. What should you tell him?
Answer:
In general, Mr Torres must select a single Part D premium payment mechanism that will be used throughout the year.
Explanation:
Given the situation above, the best advice to give Mr. Torres, is that, all things being equal, it is imperative generally, that he must select a single Part D premium payment mechanism that will be used throughout the year.
This is because, it will be a lot easier, with less stress of constant monitoring his savings account and often time, it is more beneficial to use.
A television manufacturer in South Korea had to simplify its televisions before introducing them to the Nigerian markets, as the country lacked the skills to repair the product in case of a malfunction. The local salesforce also did not have the sufficient knowledge about the installation of the product. The requirement that is influencing product adaptation in this scenario is
Answer:
The correct answer is "Technological Requirements ".
Explanation:
Throughout the field of computing and development of systems, technological requirements are considerations necessary to produce a request to make or action from such an organization to determine the expectations and needs of either a customer. Technical specifications may apply to technologies such as software, hardware as well as software-driven electronic equipment.So that the given scenario is "Technological Requirements "
The biomedical division needs to hire the best biomedical engineers in the world to be competitive in this global industry, and competition to attract talent is stiff. Many of the most innovative engineers work for startups. What would be the most appropriate HRM approach
Answer:
Explanation:
Based on the information provided, it can be said that the most appropriate approach would be to acquire startups with talented employees and integrate these employees into the company's culture. These startup's would not only already have the talented employees that the biomedical division needs but those employees would also already have become accustomed to the team that they have been working within the startup. This would drastically increase their efficiency.
Rolando works for an S corporation for which he is the sole shareholder. Although he provides an extensive amount of services on behalf of the S corporation, he does not pay himself any salary, electing only to make distributions to himself at year end. How might the IRS treat those distributions
Answer:
The IRS treats an S corporation as a pass through entity, this means that it is not taxed directly like a C corporation, instead, its shareholders are taxed. In this specific case, Rolando must pay taxes as ordinary income for all the net profits (or losses if the case) that result from the S corporation's activity.
Francisco and Maria have three children and want to complete a detailed worksheet to determine the amount of life insurance they need to purchase. They will consider factors such as Social Security and liquid assets. Which method are they using to determine their life insurance needs?
Answer: Family need method
Explanation:
The family need method is used to estimate the life insurance needs based on what the family really needs.
From the question, we are informed that Francisco and Maria have three children and want to complete a detailed worksheet to determine the amount of life insurance they need to purchase and they considered factors such as Social Security and liquid assets. This shows that the family needs method is utilized.
Etsuro is a management consultant. Baker Corp. asks him to evaluate their company, and he finds that the difference between the cost of producing the firm's products and the value of those products is extremely narrow. What should Etsuro suggest that Baker Corp. management do? Find a way to pass on as much profit as possible to suppliers and customers. Find a way to widen the gap between cost and value. Shore up the company's strong position by erecting entry barriers. Encourage customers to buy complements to their products.
Answer:
find a way to widen the gap between cost and value
Explanation:
Since in the question, it is mentioned that Baker Corp wants to evaluate the company and determine the difference between the cost for producing the products and the value
So here Baker corp should find a way to broaden the gap between the gap and value so that the company could able to find out where is the mistake is done so that it could be improved
Hence, the second option is correct
OceanGate sells external hard drives for $260 each. Its total fixed costs are $30 million, and its variable costs per unit are $210. The corporate tax rate is 30%. If the economy is strong, the firm will sell 2 million drives, but if there is a recession, it will sell only half as many.
a.
What is the firms' degree of operating leverage (defined as the ratio of the percent change in EBIT to the percent change in sales)?
Degree of operating leverage
b.
If the economy enters a recession, what will be the firm’s after-tax profit? (Enter your answer in millions.)
After-tax profit $ million
Answer:
a. in order to calculate this we must assume that the economy entered a recession:
degree of operating leverage = [($20 - $70)/$70] / [($260 - $520)/$520] = -0.7143 / -0.5 = 1.43
b. $14 million
Explanation:
strong economy:
total sales $520 million
variable costs $420 million
gross profit $100 million
fixed costs $30 million
EBIT $70 million
income taxes $21 million
net income $49 million
weak economy:
total sales $260 million
variable costs $210 million
gross profit $50 million
fixed costs $30 million
EBIT $20 million
income taxes $6 million
net income $14 million
Gilroy Crackers enjoys a competitive advantage as a cost leader because high demand for its products has allowed it to operate at the minimum efficient scale. Which of the following scenarios would be most concerning to the managers of Gilroy Crackers?
A) Gilroy's leading competitor develops a new low-sodium product.
B) Gilroy's most reliable production worker takes a job in another industry.
C) A major winter storm shuts down Gilroy's production for several days.
D) A wheat shortage raises input costs across the industry.
Answer:
The answer is C. A major winter storm shuts down Gilroy's production for several days
Explanation:
Being a cost leadership means one has a competitive advantage by producing at the lowest cost in the industry. Cost leadership is characterised by company efficiency, size etc.
Gilroy Crackers would be most concerned about a major winter storm shuts down Gilroy's production for several days because Gilroy won't be able to utilize its capacity and the raw materials already bought might turn to a waste through to lack of usage.
Also, some of its needed machineries might have also been rendered useless by the storm.
prime factorization of 1624
Answer:
1624 = 2, 4, 8, 7, 56, 29, 1624 divided by 2, 2, 2, 7, 29
Explanation:
start by dividing the number by the first prime number which is 2.and continue dividing. only can divide by prime numbers since it's prime factorization.
Last year real GDP per person in the imaginary nation of Olympus was 4,250. The year before it was 4,100. By about what percentage did Olympian real GDP per person grow during the period?
Answer:
3.6585%
Explanation:
(4250 - 4100) / 4100 = 0.036585 = 3.6585%
Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $317,500 Number of purchase orders Scheduling 217,400 Number of production orders Materials handling 429,500 Number of moves Product development 738,800 Number of engineering changes Production 1,506,700 Machine hours Number of Purchase Orders Number of Production Orders Number of Moves Number of Engineering Changes Machine Hours Number of Units Disk drives 3,860 300 1,330 15 1,800 2,500 Tape drives 2,500 135 740 7 8,300 3,600 Wire drives 12,600 790 4,100 30 10,200 2,500 The activity rate for the procurement activity cost pool is
Answer:
Panamint Systems Corporation
Activity rate for the procurement activity cost pool:
= Procurement/Number of purchase orders
= $317,500/18,960
= $16.75
Explanation:
a) Data:
Activity Pools Disk Drives Tape Drives Wire Drives
Number of Purchase Orders 3,860 2,500 12,600
Number of Production Orders 300 135 790
Number of Moves 1,330 740 4,100
Number of Engineering Changes 15 7 130
Machine Hours 1,800 8,300 10,200
Number of Units 2,500 3,600 2500
Activity rate for the procurement activity cost pool:
= Procurement/Number of purchase orders
= $317,500/18,960
= $16.75 per order
The Panamint Systems Corporation activity rate for the procurement activity cost pool is the total procurement cost divided by the number of purchase orders across the three product lines. This produces a rate for obtaining the procurement cost for each product line of disk drives, tapes drives, and wire drives, using the activity-based costing (ABC) system.
You have been providing a pre-Thanksgiving meal during sales presentations in November for many years and your clients look forward to attending this annual event. When marketing Medicare Advantage and Part D plans, what are you permitted to do with respect to meals?
Answer: Provide light snacks
Explanation:
In a Medicare advantage, a proper meal will not be allowed, the focus of the program is targeted at the Medicare section, so preparing a normal Neal would serve as a distraction to the purpose of the program, even those requesting would be prohibited for such, so what's required would be normal snacks which won't attract attention and individuals can focus on the program: Medicare.
Answer:
b.
You may provide light snacks, but a Thanksgiving style meal would be prohibited, regardless of who provides or pays for the meal.
Explanation:
A meal is considered a distraction to the presentation material, snacks only
In the principal-agent relationship, the agent is:__________.
A) the person who places his resources in professional hands in exchange for the professional's promise to act on the resource owner's behalf.
B) the owner of a resource that has hired another party to act on his behalf.
C) the person who is placed in control over resources that are not his own and agrees to compensate the resource owner in the event of outcomes that do not satisfy the resource owner.
D) the person who is placed in control over resources that are not his own, with a contractual obligation to use these resources in the interests of some other party.
Answer: A) the person who is placed in control over resources that are not his own with a contractual obligation to use these resources in the interests of some other party.
Explanation:
Principal-agent relationship is
a legal arrangement in which one party appoints another party to act on its behalf.The agent acts on behalf of the principal and have to follow all the instruction provided by the principal.So, In the principal-agent relationship, the agent is the person who places his resources in professional hands in exchange for the professional's promise to act on the resource owner's behalf.
Hence, the correct option is (A).
14. Two alternative measures of the overall level of prices are a. the inflation rate and the consumer price index. b. the inflation rate and the GDP deflator. c. the GDP deflator and the consumer price index. d. the cost of living index and nominal GDP
Answer:
c. the GDP deflator and the consumer price index.
Explanation:
Two alternative measures of the overall level of prices are the GDP deflator and the consumer price index.
The GDP deflator can be defined as a measure of the changes in prices for all of the finished goods and services produced domestically in an economy in a particular period of time, usually a year. This simply means that, the gross domestic product deflator measures the inflation in an economy.
Consumer price index (CPI) can be defined as a measure of the aggregate or average changes in price level of a weighted market basket of finished goods and services that consumers purchased over a specific period of time. The CPI is also a measure of the inflation in an economy over a specific period of time.
Robust Inc. has the following information related to an item in its ending inventory. Product 66 has a cost of $812, a replacement cost of $775, a net realizable value of $800, and a normal profit margin of $50. What is the final lower-of-cost-or-market inventory value for product 66
Answer:
$775
Explanation:
In inventory valuation , inventory are valued at the lower of cost to replace an item of inventory and the net realizable value.
The net realizable value is the proceed earned from the disposal of an inventory less the cost related to the disposal.
In the scenario described in the question , The replacement cost for product 66 is $775 while the net realizable value is $800. Therefore , the final inventory valuation will be the lower of $775 and $800 which is $775
A good layout requires determining: Group of answer choices Environment and aesthetics All of the above Material handling requirements Cost of moving between various work areas Capacity and space requirements
Answer:
All of the above.
Explanation:
All alternatives are correct with regard to organizational layout.
Layout planning must be aligned with organizational needs, ensuring the optimization of processes and flow related to the company's productive resources.
To be effective, the layout must combine environment, functionality, resources and costs, in order to optimize the arrangement and activities of the functional areas, allowing correct communication between departments, monitoring the flow of people and materials, reducing idleness and costs and improving the use of available space as a whole.
Sam draws a $100 check on his account at Bank A which is then deposited in Bank B. When this check is cleared Group of answer choices Neither Bank As or Bank Bs deposits or reserves are affected. Bank A gains reserves equal to $100 and Bank B gains deposits equal to $100. Bank A gains reserves and deposits equal to $100 Bank B loses reserves and deposits equal to $100 Bank A loses reserves and deposits equal to $100
Answer:
C) Bank A loses reserves and deposits equal to $100
Explanation:
Since in the question it is mentioned that sam draws a check for $100 on his account at Bank A and then it is deposited in bank B. Now the check is cleared when B lost reserves and deposits equaled to $100 as the amount is deposited to the bank
Therefore, the correct answer is C
As the rest options are wrong
Analyzing existing workforce demographics, comparing them to relevant labor markets, and setting goals for correcting under representation describes __________, a requirement of Title VII of the Civil Rights Act of 1964.
Answer:
Affirmative action
Explanation:
Affirmative actions are a set of actions set aside by either the government or voluntary programs that helps to correct the ills of discrimination example :workplace discrimination and it was
a requirement of the Title VII of the civil rights act of 1964.
The civil rights act of 1964 is an act signed into law in 1964 , the act brought an end to the unending discrimination on the bases of sex,religion and race in relation to employment. it also prohibited discrimination of people in public places
Your sister recently opened a swanky three-floor cheese market, Fromagerie, which is quickly gaining attention from locals, the press, and restaurateurs in the area. Located near a college town, Fromagerie specializes in rare international cheeses; and on the top floor, there is a bistro where patrons can take cooking lessons, meet new people, dine, and sample some of the world's most savory cheeses before they make a purchase decision. The bistro element of the Fromagerie is primarily an example of your sister's retail strategy in the area of:______
a. merchandising
b. atmospheric
c. location
d. customer services
e. promotion
Answer:
customer service
Explanation:
In simple words, h Customer care or service refers to the immediate each-on-one relationship between a paying customer and the subject company's marketing agent. This direct engagement is seen by most merchants as a key factor in maintaining customer loyalty and promoting repeat sales.
Thus, from the above we can conclude that the given case relates to customer service.
An insured's disability income policy includes an additional monthly benefit rider. For how many years can the insured expect to receive payment from the insurer before Social Security benefits begin?
Answer:
1 Year
Explanation:
This is because, the additional monthly benefit rider stipulates that the insurer will only pay benefits comparable to what Social Security would pay. Therefore, after a year, the insurer ends the benefit and assumes that Social Security will begin benefit payment.
Hence, the insured expect to receive payment from the insurer for ONE YEAR before Social Security benefits begin.
"Whenever Andrew considers upgrading his personal computer system, he consults with Jeremy, a knowledgeable friend who always has the newest technology. For Andrew, Jeremy is a(n) __________ in the diffusion of innovation curve."
Answer: innovator
Explanation:
From the question, we are informed that whenever Andrew considers upgrading his personal computer system, he normally consults with Jeremy, a knowledgeable friend who always has the newest technology.
Regarding the question, Jeremy is an innovator. An innovator is someone who has embraced new ideas and is always trying out new gadgets and technology.
Marguerite had been asked by her manager to write a summary of a seminar she had attended. Marguerite’s summary explained that the speaker’s thick accent and excessive use of jargon made it hard for her to follow his presentation. It’s clear that Marguerite experienced _____ barriers during the seminar.
Answer:
language barriers
Explanation:
Since in the question, it is mentioned that there is excessive use of jargon which results in difficulty to understand what the speaker wants to communicate and due to which it becomes harder to her to follow his presentation.
Here jargon means unique words which unable to understand by the group of people
Therefore this is a language barrier during the seminar
You are the production manager for the toy manufacturing process at the abc company. lumber company right arrow→ abc toy manufacturing company right arrow→ toy store at the mall an example of an internal supplier is
a. the toy store at the mall.
b. the receiving department at abc.
c. the shipping department at abc.
d. the lumber company.
Answer:
b. the receiving department at abc.
Explanation:
The given production process involves a process flow from Lumber Company to ABC Toy Manufacturing to Toy Store at the Mall.
The Lumber company and Toy Store are external parties in this process, with Lumber Company being the External Supplier and Toy Store at the Mall being the External Customer.
Internally we have the Receiving Department at ABC, that receives input from the Lumber Company. Processes it and sends to the Shipping Department.
Therefore internally the Receiving Department at ABC is the supplier to the Shipping Department.
In March 2012, the state of California started requiring that all packaging for food and drink with the additive 4-methylimidazole (4-MI) be clearly labeled with a cancer warning. Because of this, both Pepsi and Coke changed their formula to eliminate 4-MI as an ingredient. If Pepsi and Coke did NOT change their formula, holding all else constant, what would have happened to the demand for these goods, assuming Pepsi and Coke were in a competitive market
Answer:
The demand curve for Pepsi and Coke would have shifted to the left, causing the price of both products to decrease and the profits for both companies to fall.
Explanation:
As in the question it is mentioned that the if the Pepsi and Coke do not change the formula and all other things being constant so the demand for the goods in case of the competitive market is that the demand curve is shifted to the left which results in a decrease in the price of both goods also due to price falls the profits for both companies dropped.
Distinguish among operating, investing, and financing activities for the statement of cash flows indirect method) Aurum Investments specializes in low-risk government bonds. Identify each of Vanderpool's transactions as operating (O), investing (I), financing (F), non-cash investing and financing (NIF), or a transaction that is not reported on the statement of cash flows (N). Indicate whether each item increases (+) or decreases (minus) cash. The indirect method is used for operating cash flows.
A. Acquisition of equipment by issuance of note payable
B. Purchase of long-term investment with cash
C. Issuance of long-term note payable to borrow cash
D. Increase in prepaid expenses
E. Decrease in accrued liabilities
F. Loss of sale of equipment
G. Decrease in accounts receivable
H. Depreciation of equipment
I. Increase in accounts payable Amortization of intangible assets
K. Purchase of treasury stock
L. Payment of long-term debt
M. Increase in salary payable
N. Cash sale of land
O. Sale of long-term investment
P. Acquisition of building by cash payment
Q. Net income
R. Issuance of common stock for cash
S. Payment of cash dividend
Answer and Explanation:
The cash flow statement includes three categories of activities which are listed below:
1. Operating activities: This covers all transactions that after net income impact the working capital. This will subtract the rise in current assets and a reduction in current liabilities, while adding the decline in current assets and a rise in current liabilities.
It will manage some adjustments in working capital. For addition, the depreciation expenses are applied to the net profit and the loss on the selling of assets is added, while the profit on the sale of assets is deducted
2. Investing activities: it tracks operations that involve purchasing and selling long-term properties. The buying is a cash outflow while the sale is a cash inflow
3. Financing operations: it tracks transactions that have an impact on long-term debt and equity balance of shareholders. Share issue is a cash inflow while redemption and dividends are cash outflows.
Based on the above explanation, the classification is as follows
A. , non-cash investing and financing (NIF), as it does not involve any cash transactions
B. Investing activity as this reflects the cash outflows
C. Financing activity as this reflects the cash inflows
D. Operating activity as this reflects the cash outflows
E. Operating activity as this reflects the cash outflows
F. Operating activity as this reflects the cash inflows
G. Operating activity as this reflects the cash inflows
H. Operating activity as this reflects the cash inflows
I. Operating activity as this reflects the cash inflows
J. Operating activity as this reflects the cash inflows
K. Financing activity as this reflects the cash outflows
L. Financing activity as this reflects the cash outflows
M. Operating activity as this reflects the cash inflows
N. Investing activity as this reflects the cash inflows
O. Investing activity as this reflects the cash inflows
P. Investing activity as this reflects the cash outflows
Q. Operating activity as this reflects the cash inflows
R. Financing activity as this reflects the cash inflows
S. Financing activity as this reflects the cash outflows
Offshore oil-drilling operations entail an unavoidable risk of an oil spill, but importing oil on tankers presently entails an even greater such risk per barrel of oil. Therefore, if we are to reduce the risk of an oil spill without curtailing our use of oil, we must invest more in offshore operations and import less oil on tankers.
Which of the following, if true, most seriously weakens the argument above.
A) Tankers can easily be redesigned so that their use entails less risk of an oil spill.
B) Oil spills caused by tankers have generally been more serious than those caused by offshore operations.
C) The impact of offshore operations on the environments can be controlled by careful management.
D) Offshore operations usually damage the ocean floor, but tankers rarely cause such damage.
E) Importing oil on tankers is currently less expensive than drilling for it offshores.
Answer:
A) Tankers can easily be redesigned so that their use entails less risk of an oil spill.
Explanation:
The option that if true most seriously weakens the argument above is: tankers can easily be redesigned so that their use entails less risk of an oil spill because the statement says that importing oil on tankers entails a greater risk of an oil spill than offshore oil-drilling and the option chosen directly talks about that and says that the tankers can easily be redesigned to decrease the risks of an oil spill which goes against the argument given.
The other options are not right because the options B and C support the argument given. Also, options D and E doesn't talk about oil spill which is the topic on the argument presented.