Answer:
1. Greece, Germany
2. 2.2 barrels of oil, 0.45 pairs of shoes
3. d. 10 barrels of oil per pair of shoes
Explanation:
a) Data and Calculations:
To produce a pair of shoes costs Greece 5 barrels of oil
To produce a pair of shoes costs Germany 11 barrels of oil
b) This means that it costs Germany more than Greece to produce a pair of shoes, and Germany produces a lot of oil to the extent that she is willing to exchange her 11 barrels of oil for a pair of shoes while Greece can only exchange 5 barrels of oil for a pair of shoes.
A company has two departments, Y and Z that incur wage expenses. An analysis of the total wage expense of $43,000 indicates that Dept. Y had a direct wage expense of $6,800 and Dept. Z had a direct wage expense of $10,700. The remaining expenses are indirect and analysis indicates they should be allocated evenly between the two departments. Departmental wage expenses for Dept. Y and Dept. Z, respectively, are:
Answer:
$19,550 and $10,250
Explanation:
Calculation to determine what Departmental wage expenses for Dept. Y and Dept. Z, respectively, are:
First step is to calculate the Indirect wages
Indirect wages = [43,000 - (6800+10700)]/2
Indirect wages= 43,000-17500/2
Indirect wages=24,500/2
Indirect wages = 12,750
Now let calculate Departmental wage expenses for Dept. Y and Dept. Z,
Departmental wage expenses for Dept. Y
=6800 + 12,750
Departmental wage expenses for Dept. Y = $19,550
Departmental wage expenses for Dept. Z=10,700 + 12,750
Departmental wage expenses for Dept. Z= 23450
Therefore Departmental wage expenses for Dept. Y and Dept. Z, respectively, are:$19,550 and $10,250
Chester's balance sheet has $77,842,000 in equity. Further, the company is expecting net income of 3,000,000 next year, and also expecting to issue $4,000,000 in new stock. If there are no dividends paid what will beChester's book value
Answer:
$84,842,000
Explanation:
The book value is total assets less total liabilities
Book value = initial equity + equity issued + net income
$77,842,000 + $4,000,000 + $3,000,000 = $84,842,000
At the beginning of the year, Sigma Company's balance sheet reported Total Assets of $366,000 and Total Liabilities of $28,300 and Total Paid-in capital of $113,200. During the year, the company reported total revenues of $435,000 and expenses of $336,500. Also, dividends during the year totaled $86,000. Assuming no other changes to Retained earnings, the balance in the Retained earnings account at the end of the year would be:
Answer:
I don't really know
Explanation:
I have absolutely no clue. good luck.
You are deciding where to eat dinner tonight. Eating at Soup Plantation costs $15 and it gives you $20 worth of benefit. Eating at Del Taco costs $5 and gives you $7 worth of value. What is the opportunity cost of eating at Soup Plantation
Answer: $7
Explanation:
Due to scarcity of resources, economic agents have to make choices and the real cost of the forgone alternative when a choice is made is referred to as the opportunity cost.
Based on the information given, the opportunity cost of eating at Soup Plantation will be the $7 worth of value that will be gotten when one eats at Del Taco.
Millington Materials is a leading supplier of building equipment, building products, materials, and timber for sale, with over 200 branches across the Mid-South. On January 1, 2021, management decided to change from the average inventory costing method to the FIFO inventory costing method at each of its outlets. The following table presents information concerning the change. The income tax rate for all years is 40%.
Income before Income Tax
FIFO Average Cost Difference
Before 2015 $35 million $28 million $7 million
2015 48 million 25 million 23 million
2016 30 million 29 million 1 million
Requied:
a. Prepare the journal entry to record the change in accounting principle.
b. Determine the net income to be reported in the 2016–2015 comparative income statements.
Answer:
A. Dr Inventory $30
Cr Income tax payable $12
Cr Retained earnings $18
B. 2016 Net income $18
2015 Net income $28.80
Explanation:
a. Preparation of the journal entry to record the change in accounting principle.
Dr Inventory $30
Cr Income tax payable $12
Cr Retained earnings $18
b. Calculation to Determine the net income to be reported in the 2016–2015 comparative income statements
Balance at Jan ,2015 $21.00 millions
[35 millions- (35 millions* 40%)]
NET INCOME $28.80 millions
Cash dividends ($4.20) millions
Balance At December 31,2015 $45.60 millions
NET INCOME $18 millions
Cash dividends ($4.20) millions
BALANCE AT DECEMBER 31,2016 $59.40 millions
Therefore the net income to be reported in the 2016–2015 comparative income statements will be:
2016 Net income $18
2015 Net income $28.80
The journal entry to record the change in accounting principle will be:
Debit Inventory $30 million
Credit Income tax $12 million
Credit Retained earnings $18 million
(To record error correction)
It should be noted that the income tax will be credited in the amount below:
= 40% × ($7 million + $23 million)
= 40% × $30 million.
= 0.4 × $30 million
= $12 million
The retained earnings will be:
= $30 million - $12 million
= $18 million
The net income to be reported in the 2016–2015 comparative income statements will be $18 million and $28.8 million.
The net income for 2016 will be:
= $30 million - $12 million
= $18 million
The net income for 2015 will be:
= $48 million - (40% × $48 million)
= $45 million - $19.2 million
= $25.8 million
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Tradable permits are likely to result in less inefficiency, relative to a pollution tax, when ... a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable. b. the marginal costs of damages are steep and the marginal costs of pollution reduction are steep. c. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are relatively stable. d. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are steep. e. the marginal costs of damage are elastic and the marginal costs of pollution reduction are also elastic.
Answer:
a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
Explanation:
Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.
Offset trading refers to a type of trading system that is typically designed for the realization of more efficient pollution control.
This ultimately implies that, an offset trading is a strategic program that allows emerging business firms to pay existing business firms in order to significantly reduce their emissions or pollutants below a specific standard.
Free market in tradable pollution permits simply means giving manufacturing companies and individuals the legal right to pollution of the environment. For example, XYZ company is purchasing the permit of 500 units of carbon dioxide (CO2) pollution annually, this simply means it is permitted to pollute the environment by 500 units of CO2 annually.
Additionally, a free market in tradable pollution permits has some sort of benefits as companies can resell their unused permits or devise a cheaper means of reducing pollution. It also compensate companies that significantly reduces its pollution of the environment.
A pollution tax can be defined as a type of tax imposed on business firms that causes pollution and damages to the environment. It is also referred to as Pigovian tax which is a tax on goods with negative externality.
Hence, tradable permits when compared with pollution tax are likely to result in less inefficiency, when the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
Suppose there are two breakfast restaurants in your college town, Waffle Kingdom and Flip's Flapjacks, and they decide to operate collusively as a cartel. If both restaurants abide by the cartel's agreement, each will earn $80000 in profit. If both restaurants cheat on the cartel's agreement, both will earn $15000 in profit. If one restaurant cheats and the other abides by the agreement, the cheater will earn a profit of $120000, while the restaurant that abides will have a loss of $7500. The most profitable combined outcome for the two restaurants would be:____________
a. for both restaurants to abide by the cartel’s agreement.
b. for both restaurants to cheat on the cartel’s agreement.
c. for Waffle Kingdom to cheat on the agreement and Flip’s Flapjacks to abide by the agreement.
d. There is not a profitable outcome for both restaurants.
Answer:
a. for both restaurants to abide by the cartel’s agreement.
Explanation:
As per the given situation, the most profitable outcome i.e. combined for the two restaurants is that the both restaurant should be abide via cartel agreement as in the both cases the earnings is $80,000 so this represent the most profitable condition for these two restaurants
Hence, the option a is correct
And, the rest of the options are wrong
Many restaurants do not take reservations. You simply arrive and wait your turn. If you arrive at 7:30 in the evening, you have at least an hour wait. Notwithstanding that fact, a few people arrive, speak quietly with the maître d’, hand him some money, and are promptly seated. At some restaurants that do take reservations, there is a month wait for a Saturday evening, three weeks for a Friday evening, two weeks for a Tuesday through Thursday, and virtually no wait for Sunday or Monday evening. How do you explain these events using demand and supply?
You have deposited $1,200 into an account that will earn an interest rate of 8% compounded semiannually. How much will you have in this account at the end of 10 years
Answer:
$2,629.35
Explanation:
The amount in future for the dollar invested today is known as the Future Value (FV)
We can simply calculate the Future Value using a Financial Calculator as follows :
PV = - $1,200
PMT = $0
P/YR = 2
I = 8 %
N = 10 x 2 = 20
FV = ??
Therefore,
The Future Value (FV) will be $2,629.35
You will have $2,629.35 in this account at the end of 10 years.
What is the purpose of using predetermined overhead rates: Variation in cost assignment due to short-term variations in volume can be prevented Delays in product costing can be avoided Variation in cost assignment due to seasonality can be prevented. All of the answers are correct.
Answer:
All of the answers are correct.
Explanation:
At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated
The purpose of using pretermined overhead rates are
Delays in product costing can be avoided
Variation in cost assignment due to seasonality can be prevented
Variation in cost assignment due to short-term variations in volume can be prevented
The Use of predetermined overhead rates serves all the above purposes
Hence, all answers are correct.
The estimated beta for RDG is 0.74. The risk free rate of return is 4 percent and the Equity Risk Premium is 5 percent. What is the required rate of return for RDG using the CAPM
Answer:
7.7%
Explanation:
Given :
Risk free rate of return = 4%
Risk premium = 5%
Estimated beta = 0.7
Using the CAPM relation :
The expected return = Risk free rate + (Risk premium * Estimated Beta)
Expected Return = 4% + (5% * 0.74)
Expected Return = 4% + 3.7%
Expected Return = 7.7%
Suppose a three-factor model is appropriate to describe the returns of a stock. Information about those three factors is presented in the following chart: What is the systematic risk of the stock return
Answer:
The answer is "[tex]6.33\%[/tex]"
Explanation:
The systematic portion of the return can be defined as follows:
[tex]\to 0.0000734(\$17,863?\$17,034)?0.90(2.60\%?2.80\%)?0.32(3.50\%?3.70\%)[/tex]
[tex]= 0.0000734 (829) - .90 (-.002) - .32(-.002)\\\\= 0.0608486 + 0.0018 + 0.00064\\\\= 0.0633 \\\\ = 6.33\%[/tex]
About 5% of hourly paid workers in a region earn the prevailing minimum wage or less. A grocery chain offers discount rates to companies that have at least 30 employees who earn the prevailing minimum wage or less. Complete parts (a) through (c) below.
a. Company A has 285 employees. What is the probability that Company A will get the discount? (Round to four decimal places as needed.)
b. Company B has 502 employees. What is the probability that Company B will get the discount? (Round to four decimal places as needed.)
c. Company C has 1033 employees. What is the probability that Company C will get the discount? (Round to four decimal places as needed.)
Answer:
a. 0.0000
b. 0.1841
c. 0.9992
Explanation:
a. n = 285
p = 5% = 0.05
μ = np = 285 x 0.05
= 14.25
we fnd the standard deviation
sd = √np(1-p)
= [tex]\sqrt{285*0.05*0.95}[/tex]
= 3.6793
we find the z score
x = 30-0.5 = 29.5
[tex]z=\frac{29.5-14.25}{3.6793} \\= 4.14[/tex]
using the microsoft excel function
1-NORMSDIST(4.14)
probability = 1 -0.999982
= 0.0000
b.
n = 502
p = 0.05
np = 502x0.05
= 25.1
sd = [tex]\sqrt{np(1-p)}[/tex]
= [tex]\sqrt{502*0.05*0.95} \\= 4.8831[/tex]
x = 29.5
[tex]z = \frac{29.5-25.1}{4.8831} \\= 0.90[/tex]
1 - NORMSDIST(0.90)
= 1 - 0.815939875
PROB = 0.1841
c. n = 1033
p = 0.05
np = 1033*0.05
= 51.65
sd [tex]\sqrt{np(1-p)} \\= \sqrt{1033*0.05*0.95}[/tex]
= 7.0048
x = 29.5
[tex]z=\frac{29.5-51.65}{7.0048} \\= -3.16[/tex]
probability =
1 - normsdist(-3.16)
= 1 - 0.000788846
= 0.9992
if potential output declines while actual output remains unchanged, what does the Taylor rule imply that policymakers should do to the fed funds rate
Answer:
Increased
Explanation:
In the case when there is a fall in the potential output and at the same time the actual output remains the same so here the fund rate should be increased as per the taylor rule as it decrease the output that result in the output gap to fall
So as per the given situation, the fed fund rate should be increased
Hence, the same is to be increased
- True or False: Professional shoplifters steal primarily for the excitement.
Chin purchases five protein bars at a price of $3 each. The marginal benefit he receives from each bar is $5 for the first bar, $4.50 for the second bar, $4 for the third bar, $3.50 for the fourth bar, and $3 for the fifth bar. The marginal cost of producing the bars is $2 each. What is Chin's total consumer surplus from the five bars that he purchased
Answer:
$5
Explanation:
When actions by individuals in a organization are directed toward the goal of furthering their own self-interests, it is termed as
Answer:
Organizational politics.
Explanation:
An interest group can be defined as a group of people sharing common aims, ideas and concerns, which seeks to influence government or a public policy.
This ultimately implies that, the interest groups consists of individuals who are only concerned about influencing public policy of the government on the basis of a particular common aim and interest.
Similarly, when actions by individuals in a organization are directed toward the goal of furthering their own self-interests such as being promoted, traveling to get estacodes, training, courses, etc., it is generally termed as organizational politics. Thus, you will see such employees (individuals) getting closer to top the executive management and patronizing them, in order to be in their good books.
Assume the total cost of a college education will be $184,061 when your child enters college in 19 years. You presently have $49,327 to invest. What annual rate of interest must you earn on your investment to cover the cost of your child's college education? Enter answer as 3 decimal places (e.g. 0.123)
Answer:
Interest rate = 0.9313
Explanation:
Future value or the cost of edcuation after 19 years = $184061
Present value, money in hand at present = $49327
Time period, n = 19
Future value = Present value (1 + r)²
184061 = 49327 (1 + r )²
(1 + r )² = 184061 ÷ 49327
(1 + r )² = 3.73
(1 + r) = √3.73
(1 + r) = 1.9313
r = 1.9313 - 1
r = 0.9313
Or Interest rate = 0.9313
The Get Well Health Care Company directors noticed a significant drop in the company’s customer service ratings. It was determined that an Agile Lean approach to improving the methods for receiving, processing, and resolving customer questions and complaints as needed. The CEO of the company is anxious to get the effort underway. You have been appointed to lead this effort. You are told by the CEO when she appoints you that the employees of the customer service unit are unaware of the change that is to occur, nor are they aware of the drop in the customer service ratings. You decide to use the ADKAR Model to assist the employees in this unit address the change.
In this assignment, you are to list and explain each step of the ADKAR Model. You are to then describe what action(s) you would take under each of these steps to help the employees of the customer service unit navigate this change.
Answer:
ADKAR is
A : is the awareness to need a change
D : is the desire to change
K : is the knowledge of how to change
A : is the ability to change
R : is the reinforcement to change
Explanation:
In order to improve methods of customer service a change is required in the Get Well Health Care Company and I will be using ADKAR model to implement this change.
ADKAR is
A : is the awareness to need a change
D : is the desire to change
K : is the knowledge of how to change
A : is the ability to change
R : is the reinforcement to change
Firstly the change is required in Get Well Heath Care Company because there is a significant drop in customer service ratings which will make the company lose business.The change is desired because the company and its employees wants to continue to provide better health care to its customers.The employees needs to understand how to satisfy the customer with their service to get a better customer service rating.Are the employees able to implement this change? are they enough motivated to provide a better customer service?Are the employees going to reinforce the change implemented or will they go back to their old practices of customer service?a sale is made at a lumber company for goods costing a total of $13,359 (which includes 9.5% sales tax). in the books of the lumber company revenue should be credited for what amount
Answer:
$12,200
Explanation:
Sales including sales tax = $13,359
Sales tax rate = 9.5%
Let the sales be = $X
Sales tax payable = Sales * Sales tax rate
Sales tax payable = X * 9.5%
Sales tax payable = 0.095X
Sales + Sales tax = Sales including sales tax
X + 0.095X = 13,359
1.095X = 13,359
X = 13,359/1.095
X = $12,200
So, Sales = $12,200. Thus, in the books of the lumber company, Revenue should be credited for $12,200
Gibson Electronics identifies licensees in various countries who produce and sell the company's products in their countries in return for a royalty fee on every unit sold. Gibson Electronics’ approach is risky because of the problems associated with:_______
a. increased production costs.
b. doing business in a different culture where the rules of the game may be very different.
c. an increase in transportation costs, especially for those products that have a low value-to-weight ratio.
d. the possibility of an increase in trade barriers such as import tariffs or quotas.
e. sharing valuable technological know-how with a potential competitor.
Answer:
E) sharing valuable technological know-how with a potential competitor.
Explanation:
From the question we are informed about Gibson Electronics who identifies licensees in various countries who produce and sell the company's products in their countries in return for a royalty fee on every unit sold. Gibson Electronics’ approach is risky because of the problems associated with sharing valuable technological know-how with a potential competitor. Technological know-how in organization can be regarded as sets of knowledge as well as skills which is developed by that participants and is used to guide the acquisition as well as creation, and operation of computer-based systems which gives enablements or brings about facilitation of the performance of business processes, sharing this with competitors in business could be dangerous potential competitors can embrace it to move their business forward which will affect the owner of the Technological know how Businesses in the market.
If the reserve requirement was 13% and a bank customer makes a deposit of $440 at the Springfield Bank, the initial result would be: Group of answer choices
Answer:
O a $382.8 increase in excess reserves and a $57.2 increase in required reserves.
Explanation:
Here is the complete question :
If the reserve requirement was 13% and a bank customer makes a deposit of $440 at the Springfield Bank, the initial result would be:
O a $57.2 increase in excess reserves and a $382.8 increase in required reserves.
O a $382.8 increase in excess reserves and a $57.2 increase in required reserves.
O a $57.2 increase in required reserves and a $2,944.6 increase in excess reserves.
O a $440 increase in required reserves and a $2.944.6 increase in excess reserves.
Reserves is the total amount of a bank's deposit that is not given out as loans
There are two types of reserves
Required reserveExcess reserveRequired reserves is the percentage of deposits required of banks to keep as reserves by the central bank
Required reserves = reserve requirement x deposits
0.13 x $440 = $57.20
Excess reserves is the difference between reserves and required reserves
$440 - $57.20 = $382.80
Helen Ming receives a travel allowance of $120 each week from her company for time away from home. If this allowance is taxable and she has a 28 percent income tax rate, what amount will she have to pay in taxes for this employee benefit
Answer:
$1,747.2
Explanation:
Calculation to determine what amount will she have to pay in taxes for this employee benefit
First step is to determine the Annual travel allowance
Using this formula
Annual travel allowance=Weekly allowance × 52 weeks
Let plug in the formula
Annual travel allowance=$120 × 52 weeks
Annual travel allowance=$6,240
Now let determine the Annual tax
Using this formula
Annual tax=Annual travel allowance × Tax rate
Let plug in the formula
Annual tax=$6,240 × 0.28
Annual tax=$1,747.2
Therefore the amount that she will have to pay in taxes for this employee benefit is $1,747.2
A major U.S. manufacturer of children's toys believes its main competitive advantage lies in its continuing the creation of innovative toys and games. The company is facing increasing competition on price, and it is strongly considering outsourcing to offshore firms as a means of reducing costs. The LAST function this firm should consider outsourcing is: Group of answer choices research and development. operations. supply-chain management. distribution.
Answer:
research and development
Explanation:
Since in the given situation, it is mentioned that the company faced the increased in the competition and also it considered an outsourcing in order to offshore the firm so that the cost can be minimized so here the last function the firm should considered outsourcing is the research and development as there is the outsourcing so there would be the research and development also it deals with innovation & introduction of new products & services
Use solver to answer the following question: A corrupt shipping concern wishes to maximize the revenue they make from an analytics-bereft manufacturing concern, which has 4 factories and 3 warehouses. Factory 1 supplies 1000 units per week and is charged $5, $3, and $4 to ship each unit to Warehouses 1, 2, and 3 respectively. Factory 2 supplies 1200 units each week and is charged $4, $3, and $3 to ship to Warehouses 1, 2, and 3. Factory 3 supplies 1500 units and is charged $6, $2, and $5 to ship to the three warehouses. Factory 4 supplies 1800 units and is charged $6, $2, and $4. If Warehouse 1 requires 3000 units per week, Warehouse 2 demands 1000, and Warehouse 3 demands 1500, what is the maximum it would cost them in shipping to fulfill each warehouse's demand?
For airlines that sell flights from New York City to Boston, Amtrak trains are primarily a __________ Group of answer choices Potential entrant Buyer Supplier Rival Substitute product
Answer: rival
Explanation:
For airlines that sell flights from New York City to Boston, Amtrak trains are primarily a rival.
A rival in a business environment simply refers to ones competitor. In this case, the companies are all in the same industry and competes against each other, seeks competitive advantage over one another and seeks to capture a bigger market.
Several artists in Charleston, South Carolina, show and sell their work in an art gallery downtown. The gallery is owned by an art lover who does not buy the paintings but displays the work of various artists. She collects a percentage on each piece sold. In terms of the marketing channel, the gallery is Multiple Choice an ultimate consumer. a manufacturer. a wholesaler. an agent. a clearinghouse.
Which of the following items is an implicit transaction? Recognizing a gain on the sale of equipment Recording payment of monthly interest on loan Recognizing impairment on an intangible asset Recognizing deferred revenue through delivery of goods
Answer:
The correct answer is the second option: Recording payment of monthly interest on loan.
Explanation:
To begin with, the term known as "implicit transaction" in the field of business management and accounting refers specifically to the situation where the "transaction" was not intended in the first place as a directly situation to get, therefore that it is said to be an opportunity cost that happens when the company uses another resources in order to do another activities. For example the situation where the monthly interest on the loan is paid back to the company.
Poole Co. acquired 100% of Mullen Inc. on January 3, 2021. During 2021, Poole sold goods to Mullen for $2,500,000 that cost Poole $1,850,000. Mullen still owned 30% of the goods at the end of the year. Cost of goods sold was $11,200,000 for Poole and $6,600,000 for Mullen. What was consolidated cost of goods sold?
a) $15,105,000.
b) $15,300,000.
c) $15,495,000.
d) $17,800,000.
Answer:
c) $15,495,000.
Explanation:
Calculation to determine the consolidated cost of goods sold
First step is to calculate the Intra-Entity Gross Profit Deferred
Intra-Entity Gross Profit Deferred =($2,500,000 − $1,850,000)*30%
Intra-Entity Gross Profit Deferred =$650,000 × (30%)
Intra-Entity Gross Profit Deferred =$195,000
Now let calculate the Consolidated COGS
Using this formula
Consolidated COGS = Parent's COGS+Subsidiary's COGS -COGS in Intra-Entity Transfer+Intra-Entity Gross Profit Deferred
Let plug in the formula
Consolidated COGS=$11,200,000+ $6,600,000− $2,500,000+ $195,000
Consolidated COGS= $15,495,000
Therefore the consolidated cost of goods sold is
$15,495,000
The current assets of Sheridan Company are $292400. The current liabilities are $116960. The current ratio expressed as a proportion is
The current ratio expressed as a proportion is 2.5
Explanation:
Given :
The current assets = $292400
The current liabilities are $116960.
To find :
The current ratio
Solution :
Current Ratio =
[tex]\sf{\dfrac{Current \: Assets }{Current \: Liabilities}}[/tex]
[tex]\sf{\implies{\dfrac{292400}{116960}}}[/tex]
[tex]\implies[/tex] 2.5
Therefore, The current ratio expressed as a proportion is 2.5