Answer:
Direct material used= $102,000
Cost of goods manufactured= $327,000
COGS= $347,000
Explanation:
First, we need to calculate the cost of direct material used:
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 28,000 + 105,000 - 31,000
Direct material used= $102,000
Now, the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 40,000 + 102,000 + 130,000 + 105,000 - 50,000
cost of goods manufactured= $327,000
Finally, the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 80,000 + 327,000 - 60,000
COGS= $347,000
Riverbed Company had $151,800 of net income in 2016 when the selling price per unit was $151, the variable costs per unit were $91, and the fixed costs were $575,800. Management expects per unit data and total fixed costs to remain the same in 2017. The president of Riverbed Company is under pressure from stockholders to increase net income by $64,300 in 2017.
1. Compute the number of units sold in 2016. (Round answer to 0 decimal places, e.g. 1,225.)
2. Compute the number of units that would have to be sold in 2017 to reach the stockholders' desired profit level.
3. Assume that Naylor Company sells the same number of units in 2017 as it did in 2016. What would the selling price have to be in order to reach the stockholders? (Round answer to 2 decimal places, e.g. 12.25.)
Answer:
Riverbed Company
1. The number of units sold in 2016:
= 12,127
2. The number of units that would have to be sold in 2017 to meet desired profit level of stockholders:
= 13,199
3. Assuming that Naylor Company sells the same number of units in 2017 as it did in 2016, the selling price have to increase to $156.30 per unit, in order to achieve stockholders' desire for more profitability.
Explanation:
a) Data and Calculations:
2016 net income = $151,800
Selling price = $151
Variable cost per unit = $91
Contribution = $60
Fixed costs = $575,800
Units sold = 12,127 ($575,800 + 151,800)/$60
When net income increases by $64,300, the units sold will increase by 1,072 ($64,300/$60)
Sales volume = 13,199 (12,127 + 1,072)
To achieve the same level of profitability ($216,100) at the same level of units sold, the price will increase by $5.30 ($64,300/12,127) to $156.30.
At the end of 2009, the following information is available for Clobes Company, Snyder Company, and Welz Company (you must show your calculations to receive full credit): Required: Which company has the highest level of financial risk? Using an appropriate ratio, support your answer. Which company is the most profitable from the owners' perspective? Using an appropriate ratio, support your answer. (3) Which company is getting the greatest return on assets? Show calculations.
Answer:
Answer is explained in the explanation section below.
Explanation:
Note: This question is incomplete and lacks necessary data to solve for this question. However I have found similar question on the internet and I will be using that data. Besides, I have attached the data used in the attachment below.
Solution:
1. The debt-to-equity ratio is the best way to assess financial risk. A higher debt-to-equity ratio indicates a higher level of financial risk. This ratio represents the willingness of the equity of the owners to fulfil their obligations.
Formula used:
Debt-to-equity ratio = Total liabilities divided by owner's equity
For Clobes:
Total liabilities = 100,000
Owners' equity = 200,000
Debt-to-equity ratio = 100000/200000 = 0.5
For Snyder:
Total liabilities = 300,000
Owners' equity = 200,000
Debt-to-equity ratio = 300000/200000 = 1.5
For Welz:
Total liabilities = 300,000
Owners' equity = 100,000
Debt-to-equity ratio = 300000/100000 = 3
Welz faces the greatest financial risk because it has the highest debt-to-equity ratio. It has a debt-to-equity ratio of three. Even though it depends on the industry, a company's debt-to-equity ratio should be between 1 and 1.5 if it is considered optimal. In this case, Welz's financial risk is considerably higher.
2. calculate Return on Equity(ROE)
Formula used:
ROE = Net income / Owner's equity
For Clobes:
Net income = 25,000
Owners' equity = 200,000
ROE = 25,000 / 200000 = 0.125
For Snyder:
Net income = 30,000
Owners' equity = 200,000
ROE = 30000 / 200000 = 0.15
For Welz:
Net income = 20,000
Owners' equity = 200,000
ROE = 20000 / 100000 = 0.2
Welz has the highest return of equity (ROE) of 0.2.
As a result, Welz is the most profitable company.
3. Return on assets:
Formula used
Return on Assets = Net income / Total assets
For Clobes:
Net income = 25,000
Total assets = 300,000
Return on Assets = 25,000 / 300000 = 0.08
For Snyder:
Net income = 30,000
Total assets = 500000
Return on Assets = 30000 / 500000 = 0.06
For Welz:
Net income = 20,000
Total assets = 400,000
Return on Assets = 20000 / 400000 = 0.05
Hence,
Clobes has the highest return on assets, which is 0.08.
ASC 480-10 provides guidance on determining whether (1) certain financial instruments with both debt-like and equity-like characteristics should be accounted for outside of equity (i.e., as liabilities or, in some cases, assets) by the issuer and (2) SEC registrants should present certain redeemable equity instruments as temporary equity. Examples of contracts and transactions that may require evaluation under ASC 480-10 include:________
Answer:
. Redeemable shares.
• Redeemable noncontrolling interests.
• Forward contracts to repurchase own shares.
• Forward contracts to sell redeemable shares.
• Written put options on own stock.
• Warrants (and written call options) on redeemable equity shares.
• Warrants on shares with deemed liquidation provisions.
• Puttable warrants on own stock.
• Equity collars.
• Share-settled debt (this term is used to describe a share-settled obligation that is not in the legal form of debt but has the same economic payoff profile as debt).
• Preferred shares that are mandatorily convertible into a variable number of common shares.
• Unsettled treasury stock transactions.
• Accelerated share repurchase programs.
• Hybrid equity units.
Explanation:
ASC 480-10 is used when an issuer, in the declaration of its financial position, has to categorize some financial instruments that share the characteristics of liabilities and equities. The issuer always classifies legal-form debt as liability and this makes it not applicable under the ASC 480-10.
Under the ASC 480-10, three types of financial instruments are meant to be classified and they include;
1. Mandatorily redeemable financial instruments
2. Obligations to repurchase the entity’s equity shares by transferring assets, and
3.Certain obligations to issue a variable number of equity shares
The United States is said to have an absolute advantage in producing food compared with Japan. What does that mean?
It must import most of its food from Japan.
It produces food more efficiently than Japan.
It produces food at a higher cost than Japan.
It must export most of its food to Japan.
Answer:
It produces food more efficiently than Japan.
Explanation:
Given that an ABSOLUTE ADVANTAGE is when a country or company can produce the same quantity of goods more efficiently than another country or company with lesser input or produce more quantities of goods with more efficiently with the same input.
Hence, in this case, when it is said that the United States has an absolute advantage in producing food compared with Japan, it means that "It produces food more efficiently than Japan."
The correct answer would be B: It produces food more efficiently than Japan
Equipment was sold for $50,000. The equipment was originally purchased for $85,000. At the time of the sale, the equipment had accumulated depreciation of $30,000. Calculate the gain or loss to be recorded on the sale of equipment. Multiple Choice Gain of $5,000. Loss of $35,000. Gain of $20,000. Loss of $5,000.
Answer:
Loss of $5,000
Explanation:
loss to be recorded on the sale of equipment is $5,000
If a local-level fair housing group wins a fair housing lawsuit against a landlord, who gets the money from the resulting judgment? When landlords are fined, the money goes to the Texas state treasury. All judgment awards, minus attorney fees, go to the individuals who actually suffered the discrimination. The money goes to the fair housing group that brought the lawsuit. The money goes into a fund established to help victims of discrimination statewide.
Answer: The money goes to the fair housing group that brought the lawsuit.
Explanation:
The fair housing group that brought the suit is the one that incurred the costs of litigation. They will therefore be rightly expected, to be the ones to enjoy the benefits of litigation as the money won in the suit would go to them.
They would in most cases however, spend some of this money on victims of discrimination at their own discretion. The region affected by the lawsuit would still gain fairer laws even if they did not gain money like the group did.
Equity securities acquired by a corporation which are accounted for by recognizing unrealized holding gains or losses in the income statement are:______
a. equity method investments where a company has holdings of less than 20%.
b. trading securities where a company has holdings of less than 20%.
c. equity method securities where a company has holdings of between 20% and 50%.
d. consolidated investments where a company has holdings of more than 50%.
Answer:
a.equity method investments where a company has holding of less than 20 %
Theory Enterprises uses a standard cost system and prepared the following budget for May when 24,000 machine hours of activity were anticipated: variable overhead, $48,000; fixed overhead: $240,000. Actual data for May were: Standard machine hours allowed for output attained: 25,000 Actual machine hours worked: 24,000 Variable overhead incurred: $50,000 Fixed overhead incurred: $250,000 The variable-overhead spending and efficiency variances for Theory are: Variable-Overhead Spending Variance Variable-Overhead Efficiency Variance A. $ 0 $ 0 B. $ 0 $ 2,000 unfavorable C. $ 2,000 unfavorable $ 0 D. $ 2,000 favorable $ 2,000 unfavorable E. $ 2,000 unfavorable $ 2,000 favorable
Answer:
See below
Explanation:
a. Variable overhead spending variance
= AH × ( AR - SR)
Where
AH = Actual Hours worked = 24,000
AR = Actual variable overhead rate = $50,000
SR = Standard variable overhead rate = $48,000
Therefore,
Variable overhead spending variance
= 24,000 × ($50,000 - $48,000)
= $48,000
Budgeted sales for the month at 4,600 units. Budgeted variable selling and admin expense is $7.30 per unit. Budgeted fixed selling and admin expense is $51,980 of which $6,440 is depreciation. What is the budgeted cash disbursement amount for selling and administrative expense for the month?
Answer:
$79,120
Explanation:
Calculation for the budgeted cash disbursement amount for selling and administrative expense for the month
First step is to calculate the Total variable selling and administrative expense
Using this formula
Total variable selling and administrative expense= Budgeted unit sales for August × variable selling and administrative expense per unit
Let plug in the formula
Total variable selling and administrative expense= 4,600 × $7.30
Total variable selling and administrative expense= $33,580
Second step is to calculate the Total fixed selling and administrative expense
Total fixed selling and administrative expense
= Budgeted fixed selling and administrative expense - Depreciation per month
Let plug in the formula
Total fixed selling and administrative expense= $51,980 - $6,440
Total fixed selling and administrative expense=$45,540
Now let calculate the budgeted cash disbursement amount for selling and administrative expense for the month
Using this formula
Budgeted cash disbursement = Total variable selling and administrative expense + Total fixed selling and administrative expense
Let plug in the formula
Budgeted cash disbursement= $33,580 + $45,540
Budgeted cash disbursement= $79,120
Therefore the budgeted cash disbursement amount for selling and administrative expense for the month will be $79,120
The resource based view (RBV) of the firm combines which two perspectives: Group of answer choices The primary and support activities of the firm. The interrelationships among the primary activities of the firm and corporate management. The internal analysis of the firm as well as the external analysis of the industry and competitive environment. The industry and the competitive environment.
Answer:
The internal analysis of the firm as well as the external analysis of the industry and competitive environment.
Explanation:
Environmental scanning is a management strategy that focuses on systematically acquiring informations about occasions, trends, events or patterns through surveys and analysis of these information in an organisation's external and internal environment. The informations acquired through environmental scanning is then used by the executive management in strategically planning the organisation's future and exploitation of available opportunities for the success of the organization.
Generally, the internal environmental scanning offers an organization strength and weakness while the external environmental scanning provides information about opportunities and threats while the external environmental scanning gives an overview of the opportunities in the market as well as potential threats to an organization.
A resource based view can be defined as a strategic model or framework used by a business firm to determine the various resources that to be exploited in order to achieve competitive advantage.
Hence, the resource based view (RBV) of the firm combines the internal analysis of the firm as well as the external analysis of the industry and competitive environment.
Marigold Corp. took a physical inventory on December 31 and determined that goods costing $155,000 were on hand. Not included in the physical count were $28,000 of goods purchased from Pelzer Corporation, FOB shipping point, and $21,800 of goods sold to Alvarez Company for $30,400, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What amount should Marigold report as its December 31 inventory
Answer: $204,800
Explanation:
When a good is shipped FOB shipping point, it means that the buyer assumes responsibility for the goods as soon as the goods reach the place they will be shipped from. The purchase from Pelzer should therefore be included in inventory because it has already been shipped.
A good shipped FOB Destination means that the buyer only assumes responsibility after the goods have been delivered to them. As the sale to Alvarez was still in transit, it is still the responsibility of Marigold and should be included in inventory.
Inventory is therefore:
= 155,000 + 28,000 + 21,800
= $204,800
is it possible for a company to be too liquid
Answer:
yes it is possible ......
Answer:
A company can have too much liquidity, which may be a sign that it's holding onto cash that could be invested. In a sense, even borrowing money is another typical source of liquidity for businesses. To meet its obligations, the ability to take out loans will be a factor in its liquidity.
Explanation:
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used 7 workers, who together produced an average of 70 carts per hour. Workers receive $15 per hour, and machine cost was $40 per hour. With the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $10 per hour while output increased by 4 carts per hour.a. Compute labor productivity under each system. Use carts per worker per hour as the measure of labor productivity. (Round your answers to 2 decimal places.) Before _____ carts per worker per hourAfter ______carts per worker per hourb. Compute the multifactor productivity under each system. Use carts per dollar cost (labor plus equipment) as the measure. (Round your answers to 2 decimal places.)Before ______ carts/dollar costAfter _______ carts/dollar costc. Comment on the changes in productivity according to the two measures. (Round your intermediate calculations and final answers to 2 decimal places. Omit the "%" signs in your response.)Labor productivity by _____%Multifactor productivity by _____ %
Answer:
Before buying the new equipment:
Number of workers = 7
Production = 70 carts per hour
Worker wage = $15 per hour
Machine cost = $40 per hour
After buying the new equipment:
Number of workers = 6
Production = 74 carts per hour
Worker wage = $15 per hour
Machine cost = $50 per hour
(a) Labor productivity
Labor productivity = Number of carts produced per hour / Number of workers
Labor productivity (Before) = 70 / 7
Labor productivity (Before) = 10 carts per worker per hour
Labor productivity (After) = 74 / 6
Labor productivity (After) = 12.33 carts per worker per hour
(b) Multifactor productivity
Multifactor productivity = Carts produced / (Labor cost + Equipment cost)
Multifactor productivity = Carts produced / [(Number of workers x Worker wage) + Equipment cost)
Multifactor productivity (Before) = 70 / [(7*$15) + $40]
Multifactor productivity (Before) = 0.48 carts/dollar cost
Multifactor productivity (After) = 74 / [(6*$15) + $50]
Multifactor productivity (After) = 0.53 carts/dollar cost
(c) Increase in productivity
Increase in productivity = [(New productivity - Old productivity) / Old productivity] * 100
Increase in labor productivity = [(12.33 - 10) / 10] * 100
Increase in labor productivity = 0.233 * 100
Increase in labor productivity = 23.30%
Increase in multifactor productivity = [(0.53 - 0.48) / 0.48] * 100
Increase in multifactor productivity = 0.104167 * 100
Increase in multifactor productivity = 10.42%
TryFit Co. uses process costing to account for the production of energy food bars. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory consisted of $13,000 in materials and $10,000 in conversion costs. April costs were $42,000 for materials and $46,000 for conversion costs. During April 14,000 units were completed. Ending work in process inventory was 10,000 units (100% complete for materials, 50% for conversion). The value of ending inventory using the weighted average method would be closest to: (Round your intermediate calculations to four decimal places.) Multiple Choice $30,487.40 $37,654.00 $79,520.80 $46,454.00
Answer:
$37,654.00
Explanation:
beginning WIP = $13,000 + $10,000 = $23,000
costs added during the month = $42,000 + $46,000 = $88,000
total materials costs = $55,000
materials cost per EUP = $55,000 / 24,000 units = $2.29
total conversion costs = $56,000
conversion cost per EUP = $56,000 / 19,000 = $2.95
ending inventory = (10,000 x $2.29) + (10,000 x $2.95 x 50%) = $37,650
The Heating Division of Kobe International produces a heating element that it sells to its customers for $40 per unit. Its variable cost per unit is $20, and its fixed cost per unit is $8. Top management of Kobe International would like the Heating Division to transfer 14,500 heating units to another division within the company at a price of $30. The Heating Division is operating at full capacity. Assume that the units being requested are special high-performance units and that the division's variable cost would be $28 per unit (rather than $20). What is the minimum transfer price that the Heating Division should accept
Answer:
$48
Explanation:
Calculation the minimum transfer price that the Heating Division should accept
Using this formula
Minimum transfer price=[New UVC + (Lost USP - Regular UVC)]
Let plug in the formula
Minimum transfer price=$28+ ($40- $20)
Minimum transfer price=$28+20
Minimum transfer price= $48
Therefore the minimum transfer price that the Heating Division should accept is $48
A congresswoman from a state with several semiconductor factories argues that the government should impose a tariff on semiconductors because they are a necessary input into the production of various weapons. Free trade, she contends, would make the United States overly dependent on foreign countries for the supply of semiconductors and thus, in case of war, unable to make enough weapons to defend itself. Which of the following justifications is the senator using to argue for the trade restriction on semiconductors?
a. Infant-industry argument
b. Using-protection-as-a-bargaining-chip argument
c. Jobs argument
d. Unfair-competition argument
e. National-security argument
Answer:
National-security argument
Explanation:
Governments may intervene in markets for any reason at all.
A tariff is simply known as a tax
that is imposed on imports. There are various reasons why trade is restricted for product or services. The different arguments for restricting trade includes:
1. jobs argument
2. national security argument
3. infant-industry argument
4. unfair-competition argument
5. protection-as-bargaining-chip argument
The national security argument state that industries or product important to national security should be protected from foreign competition and not allow to focus mainly on dependence on imports that could be scattered during wartime.
The National Security Response is said to be as good as long as we base policy on true security needs.
Management wants a list of vendors with account balances as of 12/15/2024, sorted from the smallest to the largest amount outstanding. The following columns are to be included, from left to right: Active Status, Name (Vendor), Balance Total, Vendor Type, and Terms. Hint: Use the Vendor tab of the Vendor Center. Then change the view to include only vendors with open balances prior to sorting and printing.
Required:
Prepare and print the list requested by management.
Answer:
The vendor list can be created by using the spreadsheet. The column 1 will show all the names of the vendor, the column next to the names of vendor will show the active status. This can be shown using the symbols or signs present in the tool bar of the spreadsheet.
Explanation:
Spreadsheet makes the work easier for accountants. The list of vendor can be created with ease and it is easy for the user to sort and filter the data by just one click on the options. The vendor list will show the active list of the vendors along with their vendor type and balance totals.
One of the typical characteristics of management fraud is: Multiple Choice Illegal acts committed by management to evade laws and regulations. Falsification of documents in order to misappropriate funds from an employer. Victimization of investors through the use of materially misleading financial statements. Conversion of stolen inventory to cash deposited in a falsified bank account.
Answer:
Victimization of investors through the use of materially misleading financial statements
Explanation:
Management fraud is when the management of a company defrauds either their investors and creditors by using misleading financial statement
Because testing of nuclear bombs was halted internationally in 1992, the Department of Energy has developed a laser system that allows engineers to simulate (in a laboratory) conditions in a thermo-nuclear reaction. Due to soaring cost overruns, a congressional committee undertook an investigation and discovered that the estimated development cost of the project increased at an average rate of 2% per six-months over a 5-year period. If the original cost was estimated to be $3.1 billion 5 years ago, what is the expected cost today?
Answer:
The estimated development cost of the project will increase from the original cost of $3.1 billion 5 years ago to $3.7727 billion today.
Explanation:
Data and Calculations:
Original estimated development cost = $3.1 billion
Average rate of interest = 2% per six months or 4% per year (2 * 2%)
Period of project = 5 years using 4% or 10 using 2%
Using a future value factor of 1.217 from a future value table at 4% per year for 5 years:
The expected cost today = $3.1 billion * 1.217 = $3.7727 billion
Using an online financial calculator:
Results:
FV = $3,778,882,701.98
Total Interest $678,882,701.98
N (# of periods) 10
I/Y (Interest per year) 4
PV (Present Value) $3,100,000,000
PMT (Periodic Payment) 0
Settings
P/Y (# of periods per year) 2
C/Y (# of times interest compound per year) 2
Pearl Corporation reported net income of $49,100 in 2020. Depreciation expense was $17,200. The following working capital accounts changed.
Accounts receivable $11,200 increase
Available-for-sale debt securities 16,900 increase
Inventory 7,300 increase
Nontrade note payable 14,400 decrease
Accounts payable 13,300 increase
Required:
Compute net cash provided by operating activities. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Answer:
Net operating cash flow $68,300
Explanation:
Operating cash flow is the amount of cash generated by a company from its main and normal business activity. This cash flow is useful to gauge the financial viability of a firm's business activity; the larger the better.
It is essentially computed as the net movement of cash inflow and outflow in respect of a business activities.
It is computed as follows:
$
Net income 49,000
Add deprecation 17,200
Less increase in receivable (11.200)
add increase in payables 13,300
Net operating cash flow 68,300
Note that only items that relate to trading which is the core business area of the Pearl Corporation are considered. Depreciation is added because it is a non-cash item initially deducted from net income.
An increase in receivable means a reduction in cash while an increase in payables implies cash savings
Net operating cash flow $68,300
Where will god show his lindings tgis will be a great amertica
On January 1, 2021, The Barrett Company purchased merchandise from a supplier. Payment was a noninterestbearing note requiring five annual payments of $20,000 on each December 31 beginning on December 31, 2021, and a lump-sum payment of $100,000 on December 31, 2025. A 10% interest rate properly reflects the time value of money in this situation.Required:Calculate the amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2021.
Answer:
Barrett Company
The amount at which Barrett should record the note payable and corresponding merchandise purchased on January 1, 2021 is:
= $125,500.
Explanation:
a) Data and Calculations:
Non-interest-bearing note annual payment = $20,000
Date of annual payments = December 31
Lump sum payment on December 31, 2025 = $100,000
Interest rate reflecting the time value of money = 10%
The amount for the note payable and corresponding merchandise on January 1, 2021 is:
PV annuity factor for 4 years at 10% = 3.170
Total PV of annual payments = $63,400 ($20,000 * 3.170)
PV of lump-sum payment = 62,100 ($100,000 * 0.621)
Total PV of payments = $125,500
Assume that a $1,000,000 par value, semiannual coupon U.S. Treasury note with five years to maturity (YTM) has a coupon rate of 3%. The yield to maturity of the bond is 8.80%. Using this information and ignoring the other costs involved, calculate the value of the Treasury note:
Answer:
$775,751
Explanation:
the effective semiannual rate = 1.088 = (1 + r)²
r = 4.3072%
we must first determine the present value of the face value = $1,000,000 / (1 + 4.3072%)¹⁰ = $655,927.02
now the present value of the coupon payments = $15,000 x [1 - 1/(1 + i)ⁿ ] / i = $15,000 x [1 - 1/(1 + 0.043072)¹⁰ ] / 0.043072 = $119,823.98
market price = $775,751
Olivia wants to buy some vacant land for investment purposes. She currently cannot afford the full purchase price. Instead, Olivia pays the landowner $8,000 to obtain an option to buy the land for $175,000 anytime in the next four years. Fourteen months after purchasing the option, Olivia sells the option for $10,000. What is the amount and character of Olivia's gain or loss
Answer:
$2,000 gain
Explanation:
Calculation to determine the amount and character of Olivia's gain or loss
Based on the information given we were told that she pays the landowner the amount of $8,000 in order for her to obtain an option to buy a land in which after purchasing the option she sells the option for the amount of $10,000 making her to gain the amount of $2,000.
Olivia's gain =$10,000-$8,000
Olivia's gain =$2,000
Therefore The amount and character of Olivia's gain will be $2,000
Answer: $2000
Explanation:
The amount and character of Olivia's gain or loss will be gotten by calculating the amount that Olivia paid the landowner $8,000 to obtain an option to buy the land and the amount she eventually sold the option. This will be:
= $10000 - $8000
= $2000
Therefore, she had a capital gain of $2000
After reading the article, select the statements that are correct. Choose one or more: A. Elizabeth Warren has proposed using a new inflation measure that outpaces the current one used. B. The former program trustee argues that the current inflation measure overcompensates seniors since it ignores the substitution effect. C. According to advocates for seniors, the 2020 COLA is not enough to compensate for rising healthcare costs. D. Next year, the average monthly Social Security payment will be almost $1,800. E. The cost-of-living adjustment for 2020 is more than what it was in 2019.
Answer:
A). Elizabeth Warren has proposed using a new inflation measure that outpaces the current one used.
B). The former program trustee argues that the current inflation measure overcompensates seniors since it ignores the substitution effect.
C). According to advocates for seniors, the 2020 COLA is not enough to compensate for rising healthcare costs.
Explanation:
In the context of the article titled 'Social Security checks to rise modestly amid a push to expand benefits,' the first three statements assert the appropriate claims. It correctly states the new course of action for dealing with inflation as proposed by Elizabeth Warren after Blahous and seniors' complaint about the problems associated with the present rate for adjusting inflation as it ignored the impact created by substitution. Since the present program(COLA) could not fulfill the compensation needs of the seniors, the new program has been proposed to overcome these flaws and compensate them appropriately.
name two considerations by the Minister of finance when setting up a budget
Answer:
1. Revenue
2. Expenditure
Explanation:
Given that a country's budget is a robust plan usually prepared by the government of the country under the watchful eye of the Minister of Finance which thereby is used in presenting the country's expected or predicted revenues and proposed expenditure for the subsequent financial year.
Hence, two considerations by the Minister of finance when setting up a budget are REVENUE and EXPENDITURE.
Suppose that a hot dog vendor uses a cart (K) and his time (L) to make and sell hot dogs. The vendor's production function is , where Q is the number of hot dogs per day. Suppose that the rental on hot dog carts is $50 per day and that the vendor wants to produce 500 hot dogs per day. The demand for labor is ____.
Answer:
L = 2084.75 W^-0.3
Explanation:
The computation of the demand of the labor is shown below:
At the optimum input
As we know that
MRTS = MPL ÷ MPK = w ÷ r
0.7(K ÷ L)^0.3 ÷ 0.3(L ÷ K)^0.7 = w ÷ 50
7K ÷ 3L = w ÷ 50
K = (3 ÷ 350)wL
Now apply the production function
Q = K^0.3L^0.7
500 = ((3 ÷ 350)wL)^0.3 L^0.7
500 = (3 ÷ 350)^0.3 × w^0.3 × L
L = 2084.75 × w^-0.3.
Beyond grades, what else would make a student stand out to an admissions counselor?
Answer:
Extracurricular Activity
Colleges prefer students who are active in academics as well as off it. This shows diversity in the student and is a trait that the counselors would be looking for.
Extracurricular activities like after-school jobs, sports and even volunteering at NGOs weigh heavily in the assessment of a student's ability to fit in a college and if you had great grade whilst doing these activities, you will have a better chance at being admitted.
Flagstaff Company has budgeted production units of 7,900 for July and 8,100 for August. The direct materials requirement per unit is 2 ounces (oz.). The company requires to have safety stock of direct materials on hand at the end of each month to complete 20% of the units of budgeted production in the following month. There was 3,160 ounces of direct material in inventory at the start of July. The total ounces of direct materials to be purchased in July is:
a. 15,720 oz.
b. 15,880 oz.
c. 16,200 oz.
d. 15,800 oz.
e. 19,040 oz.
Answer:
Purchases= 15,880 ounces
Explanation:
Giving the following information:
Production:
July= 7,900
August= 8,100
The direct materials required per unit are 2 ounces (oz.).
Desired ending inventory= 20% of the units of budgeted production in the following month.
Beginning inventory= 3,160 ounces
To calculate the direct material purchase, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
Purchases= 7,900*2 + (8,100*2)*0.2 - 3,160
Purchases= 15,880 ounces
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Answer:
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