Answer: True
Explanation:
Tourism is regarded as one of the largest economic components of Hawaii.
Tourism is known to generate about 21% of the revenue that Hawaii earns in its economy. The country has many tourist attraction and there are always visitors who come into the country.
Tourism generates employment opportunities for the people, revenue for the government and.bribgs about economic growth.
Consider a five-person family consisting of a father, mother, twin 16-year-old sons attending high school, and an 85-year- old grandfather. The grandfather receives Social Security but has no other sources of income. The father and mother provide the majority of the grandfather's financial support because of his expensive in-home medical care. In 2017, before the change in the tax laws, what is the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions
The correct answer to this open question is the following.
Unfortunately, you forgot to attach the options for this question.
However, trying to help, we can say the following.
In 2017, before the change in the tax laws, the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions was $16,000.-
In the federal government taxation regulations periodically changes and adjust to consider new circumstances. That is why the IRS continually makes adjustments.
In December 2017, Congress passed the Jobs Act and Tax Cuts, modifying credits work and tax deductions of American families. Among the most important changes that started to be valid in 2018 was the removal of exemptions. That is why, before this removal of exemptions was valid, the head of the family could get personal exceptions for qualified family members such as the wife and children, or any other dependent.
Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,000 Permanent differences (16,100 ) 162,900 Temporary difference-depreciation (11,100 ) Taxable income $ 151,800 Cumulative future taxable amounts all from depreciation temporary differences: As of December 31, 2020 $ 14,000 As of December 31, 2021 $ 25,100 The enacted tax rate was 27% for 2020 and thereafter. What should Kent report as the current portion of its income tax expense in the year 2021
Answer:
the current portion of the income tax expense is $40,986
Explanation:
The computation of the current portion of the income tax expense is shown below:
= Taxable income × enacted tax rate
= $151,800 × 27%
= $40,986
hence the current portion of the income tax expense is $40,986
We simply applied the above formula
A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal
utility decreases after the first loaf, how might the baker get her customers to buy more
than one loaf?
Answer: Sell at lower price
Explanation:
Marginal Utility is the amount of satisfaction that her customers will get with every additional unit of bread purchased.
If the marginal utility decreases, her customers will buy less bread because to them, it is not as valuable anymore. If she offers her bread at lower prices, the customers would buy more because the new price will align with the lower utility the customers get from the additional loaves.
Sugarland Company is using new cost drivers for its accounting system. One driver material handling for unit variable costs and number of inspections for a pool of batch-level costs. Data for the past year follow. Budget Actual Material handling 180,000 225,000 Number of inspections 6,000 6,600 Unit variable cost pool$810,000 $1,035,000 Batch-level cost pool$115,200 $126,060 What is the total flexible budget dollar amount for the actual level of material handling and actual number of inspections
Answer:
The total flexible budget dollar amount for the actual level of material handling and actual number of inspections is $1,139,220.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question as follows:
Budget Actual
Material handling 180,000 225,000
Number of inspections 6,000 6,600
Unit variable cost pool $810,000 $1,035,000
Batch-level cost pool $115,200 $126,060
The explanation of the answer is now given as follows:
These actual amounts are the flexible budget amount with two pools.
Flexible budget dollar amount for the actual level of material handling = (Budgeted Unit variable cost pool / Budgeted Material handling) * Actual Material handling = ($810,000 / 180,000) * 225,000 = $1,012,500
Flexible budget dollar amount for the actual number of inspections = Budgeted Batch-level cost pool / Budgeted Number of inspections) * Actual Number of inspections = ($115,200 / 6,000) * 6,600 = $126,720;
Total flexible budget dollar amount = Flexible budget dollar amount for the actual level of material handling + Flexible budget dollar amount for the actual number of inspections = $1,012,500 + $126,720 = $1,139,220
Therefore, the total flexible budget dollar amount for the actual level of material handling and actual number of inspections is $1,139,220.
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. Manufacturing costs Direct materials $ 35 per unit Direct labor $ 55 per unit Overhead costs Variable $ 40 per unit Fixed $ 6,600,000 (per year) Selling and administrative costs for the year Variable $ 725,000 Fixed $ 4,250,000 Production and sales for the year Units produced 110,000 units Units sold 80,000 units Sales price per unit $ 350 per unit 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing
Answer:
Results are below.
Explanation:
Absorption vs Variable 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).
1) First, we need to calculate the total unitary variable cost:
Unitary production variable cost= 35 + 55 + 40= $130
Selling and administrative costs for the year Variable $ 725,000
Unitary total variable cost= 130 + (725,000 / 80,000)= $139.06
Now, the variable income statement:
Sales= 80,000*350= 28,000,000
Total variable cost= (80,000*139.06)=(11,124,800)
Total contribution margin= 16,875,200
Fixed overhead= (6,600,000)
Fixed Selling and administrative costs = (4,250,000)
Net operating income= 6,025,200
2) First, we need to calculate the unitary production cost:
Unitary production cost= 130 + (6,600,000/110,000)= $190
Now, the absorption costing income statement:
Sales= 28,000,000
COGS= 80,000*190= (15,200,000)
Gross profit= 12,800,000
Total Selling and administrative costs= (725,000 + 4,250,000)= (4,975,000)
Net operating income= 7,825,000
Compare the following sets of message openers. Circle the letter of the opener that illustrates a direct opening. Write an appropriate subject line for each opening paragraph. An e-mail announcing a low-cost day-care program:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
b. For several years we have studied the possibility of offering a day-care option for those employees who are parents. until recently, our management team was unable to agree on the exact parameters of this benefit, but now some of you will be able to take advantage of this option.
Answer:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
Explanation:
Subject line: HR orientation regarding new day-care program.
The problem with message (b) is that it is not direct and includes a lot of information that should go further down the email, not as an opener. Information regarding previous options or how difficult this project do not belong here.
Presented below are transactions related to Carla Vista Company.
1. On December 3, Carla Vista Company sold $622,200 of merchandise on account to Flint Co., terms 4/10, n/30, FOB destination. Carla Vista paid $330 for freight charges. The cost of the merchandise sold was $372,100.
2. On December 8, Flint Co. was granted an allowance of $20,300 for merchandise purchased on December 3.
3. On December 13, Carla Vista Company received the balance due from Flint Co.
Prepare the journal entries to record these transactions on the books of Carla Vista Company using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
No. Date Account Titles and Explanation Debit Credit
1. (To record credit sale) (To record cost of merchandise sold)
2.
3. Dec 13
Assume that Carla Vista Company received the balance due from Kingbird Co., on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
Date Account Titles and Explanation Debit Credit
Answer:
1. Dec 3
Dr Account receivable-Novak Co $622,200
Cr Sales revenue $622,200
Dec 3
Dr Cost of goods sold $372,100
Cr Inventory $372,100
Dec 3
Dr Freight out $330
Cr Cash $330
2. Dec 8
Dr Sales allowance $20,300
Cr Account receivable-Novak Co $20,300
3. Dec 13
Dr Cash 599,492
Dr Sales discount 2,408
Cr Account receivable-Novak Co 601,900
2. January 2
Dr Cash 601,900
Cr Casta Vista co 601,900
Explanation:
Preparation for the journal entries to record these transactions on the books of Carla Vista
1. Dec 3
Dr Account receivable-Novak Co $622,200
Cr Sales revenue $622,200
(To record credit Sales)
Dec 3
Dr Cost of goods sold $372,100
Cr Inventory $372,100
(To record cost of merchandise sold)
Dec 3
Dr Freight out $330
Cr Cash $330
(To record freight charges)
2. Dec 8
Dr Sales allowance $20,300
Cr Account receivable-Novak Co $20,300
(To record sales allowance)
3. Dec 13
Dr Cash 599,492
(601,900-2,408)
Dr Sales discount 2,408
[($622,200-$20,300)*4%]
Cr Account receivable-Novak Co 601,900
($622,200-$20,300)
2. Preparation of the journal entry to record the receipt of payment on January 2
January 2
Dr Cash 601,900
Cr Casta Vista co 601,900
($622,200-$20,300)
Duncan, Inc.'s unadjusted book balance showed cash balance of $1,763 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $427, deposits in transit of $831, NSF check of $195, and interest earned on the bank account of $15, the company's up-to-date ending cash balance equals:$_____
Answer:
the up-to-date ending cash balance is $2,167
Explanation:
The computation of the up-to-date ending cash balance is shown below:
= Cash balance + deposit in transit - outstanding checks
= $1,763 + $831 - $427
= $2,167
Hence the up-to-date ending cash balance is $2,167
We simply applied the above formula
Amanda, one of Abigail's fellow workers at BOSS, was surprised to learn that her department's schedule was changed from a standard 8 a.m. to 5 p.m. day, with an hour for lunch, to a work day that began at 8 a.m. and ended at 6 p.m., and that included a two-hour lunch. BOSS was located in the far suburbs, and there was little Amanda could do during the two-hour lunch period. What especially upset Amanda was the realization that when she got off work at 6 p.m. and drove 30 minutes to pick up her child at day care, she would be at least an hour late for daycare and would have to pay a very costly penalty. There were no day care facilities closer to the job, so Amanda had little recourse. She raised this concern to her supervisor, and when she was told that the new schedules were going to remain 8-6 with a two-hour lunch, Amanda began a campaign to pressure BOSS to change that schedule back. She wrote letters to the local newspaper, and called a local TV station. When Amanda's employer learned of Amanda's actions, it discharged her under Employment at Will (EAW). Amanda filed suit for wrongful discharge, claiming that this was a public policy exception to EAW because it constrained her Constitutional First Amendment right to Freedom of Speech. Which of the following is most correct?
a. Amanda will not win her lawsuit for wrongful discharge.
b. Amanda will not win her lawsuit for wrongful discharge unless the court decides that Amanda had legal standing to bring the case.
c. Amanda will win her lawsuit for wrongful discharge unless the court decides that BOSS had legitimate business necessity for changing the schedule.
d. Amanda will win her lawsuit for wrongful discharge.
Answer: A. Amanda will not win her lawsuit for wrongful discharge.
Explanation:
Based on the information that was provided, Amanda will not win her lawsuit for wrongful discharge.
The employer-at-will simply means that an employer can dismiss his or her worker as long as it's not illegal. In this case, Amanda will not win because she's hired "at will," and in such cases, the courts will deny her any loss claim that results from her dismissal.
An investor believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics. One stock is trading in yen in Japan and the other stock is a stock trading in dollars in the United States. Should the investor purchase the Japanese stock?
Answer:
No. The investor will lose money in the currency exchange if the U.S. dollar gains strength relative to the Japanese yen.
Explanation:
From the question, we are informed about An investor who believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics. One stock is trading in yen in Japan and the other stock is a stock trading in dollars in the United States. In this case , the investor should not purchase the Japanese stock this is because he will lose money in the body of currency exchange, especially in a case whereby U.S. dollar gains strength in relative to Japanese yen.
Creating a Multimedia Presentation to Demonstrate Knowledge of Agriculture, Food, and Natural Resource Careers For this assignment, you will create a multimedia presentation on Agriculture, Food,
and Natural Resources tasks and work environments to demonstrate understanding
of these careers.
Useful references for gathering this information will be listed at the end of this
document. Your presentation should include a title slide, thirteen slides representing
tasks and work environments for specific Agriculture, Food, and Natural Resource
careers, and a works cited slide.
Assignment Instructions
Step 1: Gather materials and necessary information.
a) Use resources listed at the end of this document to create your multimedia
presentation for Agriculture, Food, and Natural Resource careers.
b) Be sure to keep a list of your references so you can cite them later.
c) Ask your teacher where you should save your presentation as you work on it.
Your teacher may also have specific guidelines about the file name you
should use.
Step 2: Create your title slide.
a) Begin by creating the title slide. On this slide, include the title of your
presentation, your name, your teacher’s name, and the due date of the presentation.b) Remember to save your work as you go.
Step 3: Provide information for Farmworkers and Laborers, Crop careers.
a) Create a slide titled Common Tasks for Farmworkers and Laborers, Crop.
b) Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop
that are listed as common tasks on the O*NET site. Add a picture of at least one of
these tasks to the slide.
c) Create a slide titled Common Work Activities for Farmworkers and
Laborers, Crop.
d) Create a bulleted list describing four work activities for Farmworkers and Laborers,
Crop that are listed as common work activities on the O*NET site. Add a picture of
at least one of these work activities to the slide.
e) Create a slide titled Common Work Contexts for Farmworkers and
Laborers, Crop.
f) Create a bulleted list describing work contexts for Farmworkers and Laborers,
Crop that are listed as common work contexts on the O*NET site. Add a picture of
at least one of these common work contexts to the slide.
Step 4: Provide information for Forester careers.
a) Create a slide titled Common Tasks for Foresters.
b) Create a bulleted list describing four tasks for Foresters that are listed as common
tasks on the O*NET site. Add a picture of at least one of these tasks to the slide.
c) Create a slide titled Common Work Activities for Foresters.
d) Create a bulleted list describing four work activities for Foresters that are listed as
common work activities on the O*NET site. Add a picture of at least one of these
work activities to the slide.
e) Create a slide titled Common Work Contexts for Foresters.
f) Create a bulleted list describing work contexts for Foresters that are listed as
common work contexts on the O*NET site. Add a picture of at least one of these
common work contexts to the slide.
Step 5: Provide information for Nursery and Greenhouse Managers.
a) Create a slide titled Common Tasks for Nursery and Greenhouse Managers.
Answer:
Create a bulleted list describing four tasks for Farmworkers and Laborers, Crop that are listed as
common tasks on the O*NET site.
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Create a bulleted list describing four work activities for Farmworkers and Laborers, Crop that are listed
as common work activities on the O*NET site.
the slide.
• Handling and moving objects.
• Preforming general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Create a bulleted list describing work contexts for Farmworkers and Laborers, Crop that are listed as
common work contexts on the O*NET site.
to the slide.
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Create a bulleted list describing four tasks for Foresters that are listed as common tasks on the O*NET
site.
• Monitor contract compliance and results of forestry activities to assure adherence to
government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Create a bulleted list describing four work activities for Foresters that are listed as common work
activities on the O*NET site.
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Create a bulleted list describing work contexts for Foresters that are listed as common work contexts on
the O*NET site.
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Create a bulleted list describing four tasks for Nursery and Greenhouse Managers that are listed as
common tasks on the O*NET site.
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Create a bulleted list describing four work activities for Nursery and Greenhouse Managers that are
listed as common work activities on the O*NET site.
to the slide.
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Create a bulleted list describing work contexts for Nursery and Greenhouse Managers that are listed as
common work contexts on the O*NET site.
to the slide.
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Create a bulleted list describing four tasks for Veterinarians that are listed as common tasks on the
O*NET site.
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Create a bulleted list describing four work activities for Veterinarians that are listed as common work
activities on the O*NET site.
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Create a bulleted list describing work contexts for Veterinarians that are listed as common work
contexts on the O*NET site.
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation: hope this helps this is what I got
Answer:
“Architecture and Construction Workplaces and Tasks”
Four tasks for Farm workers and Laborers
• Harvest plants, and transplant or pot label them.
• Harvest fruits and vegetables by hand.
• Set up and operate irrigation equipment.
Four work activities for Farm workers and Laborers
• Handling and moving objects.
• Performing general physical activities.
• Getting information.
• Identifying objects, actions, and events.
Work contexts for Farm workers and Laborers
• Spend Time Using Your Hands to Handle, Control, or Feel Objects, Tools, or
Controls
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Spend Time Standing
Common Tasks for Foresters
Four tasks for Foresters
• Monitor contract compliance and results of forestry activities to assure adherence to government regulations.
• Plan and supervise forestry projects, such as determining the type, number and
placement of trees to be planted, managing tree nurseries, thinning forest and
monitoring growth of new seedlings.
• Establish short- and long-term plans for management of forest lands and forest
resources.
• Determine methods of cutting and removing timber with minimum waste and
environmental damage.
Four work activities for Foresters
• Getting Information
• Identifying Objects, Actions, and Events
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
Common Work Contexts for Foresters
Work contexts for Foresters
• Electronic Mail
• Face-to-Face Discussions
• Telephone
• Freedom to Make Decisions
Common Tasks for Nursery and Greenhouse Managers
Four tasks for Nursery and Greenhouse Managers
• Collect and record growth, production, and environmental data.
• Manage nurseries that grow horticultural plants for sale to trade or retail customers, for
display or exhibition, or for research.
• Direct and monitor trapping and spawning of fish, egg incubation, and fry rearing,
applying knowledge of management and fish culturing techniques.
• Direct and monitor the transfer of mature fish to lakes, ponds, streams, or commercial
tanks
Common Work Activities for Nursery and Greenhouse Managers
Four work activities for Nursery and Greenhouse Managers
• Making Decisions and Solving Problems
• Organizing, Planning, and Prioritizing Work
• Communicating with Supervisors, Peers, or Subordinates
• Scheduling Work and Activities
Common Work Contexts for Nursery and Greenhouse Managers
Work contexts for Nursery and Greenhouse Managers
• Face-to-Face Discussions
• Outdoors, Exposed to Weather
• Freedom to Make Decisions
• Structured versus Unstructured Work
Veterinarians
Four tasks for Veterinarians
• Treat sick or injured animals by prescribing medication, setting bones, dressing wounds,
or performing surgery.
• Inoculate animals against various diseases, such as rabies or distemper.
• Examine animals to detect and determine the nature of diseases or injuries.
• Collect body tissue, feces, blood, urine, or other body fluids for examination and
analysis.
Work activities for Veterinarians
• Making Decisions and Solving Problems
• Getting Information.
• Updating and Using Relevant Knowledge
• Identifying Objects, Actions, and Events
Common Work Contexts for Veterinarians
Work contexts for Veterinarians
• Face-to-Face Discussions
• Telephone
• Indoors, Environmentally Controlled
• Contact with others
Explanation:
this is exactly what i turned in !!!! hope it helps
On January 1, Mitzu Co. pays a lump-sum amount of $2,700,000 for land, Building 1, Building 2, and Land Improvements 1. Building 1 has no value and will be demolished. Building 2 will be an office and is appraised at $660,000, with a useful life of 20 years and a $80,000 salvage value. Land Improvements 1 is valued at $540,000 and is expected to last another 18 years with no salvage value. The land is valued at $1,800,000. The company also incurs the following additional costs. Cost to demolish Building 1 $ 346,400 Cost of additional land grading 187,400 Cost to construct Building 3, having a useful life of 25 years and a $400,000 salvage value 2,242,000 Cost of new Land Improvements 2 having a 20-year useful life and no salvage value 168,000 2. Prepare a single journal entry to record all the incurred costs assuming they are paid in cash on January 1.
Answer:
Land (Dr.) $1,800,000
Land Improvements $540,000
Building 2 $660,000
Building 1 demolish expense $346,400
Land grading expense $187,400
Building 3 construction cost $2,242,000
Land 2 improvement cost $168,000
Cash (Cr.) $22,143,800
Explanation:
Mitzu Co. has paid lump sum amount for 2 buildings and land. The building 1 has no value so its value is considered as zero and all the amount will be attributed to land and building 2. The company has also incurred costs for the demolish of building 1 which will be charged in the books of accounts as one off expense.
The annual demand for a product has been projected at 2000 units. This demand is assumed to be constant throughout the year. The ordering cost is $20 per order, and the holding cost is 20 percent of the purchase cost. The purchase cost is $40 per unit. There are 250 working days per year. Whenever an order is placed, it is known that the entire order will arrive on a truck in 6 days. Currently, the company is ordering 500 units each time an order is placed. What level of safety stock would give a reorder point of 60 units? A. 12 B. 18 C. 10 D. 14
Answer: 12
Explanation:
The level of safety stock that would give a reorder point of 60 units goes thus:
Firstly, we should note that the formula that'll be used in calculating the reorder point will be:
= dxL + Safety stock
where,
Reorder point = 60
dxL = (2000/250) x 6 = 48
Safety stock = Unknown
We then put the values gotten into the formula which will be:
Reorder point = dxL + Safety stock
60 = 48 + safety stock
Safety stock = 60 - 48
Safety stock = 12 units
Refer to the data below to answer the following questions:
Expenditure Income
C. Consumer goods and services $11,502 Wages and salaries $8,868
Corporate profits 1,686
I: Investment in plants, equipment, and inventory 2,670 Proprietor's income 1,348
G. Government goods and services 3,125 Rents 59
Interest 619
X: Exports 2,260 Taxes on output and import 1,147
Depreciation 2,647
M: Imports (2,757) Statistical discrepancy (106)
GDP: Total value of output $16,800 = Total value of income $16,800
Required:
What share of U.S. total income in 2013 consisted of
a. Wages and salaries
b. Corporate profits
Answer:
What share of U.S. total income in 2013 consisted of Wages and salaries?
The share = Wages and salaries /Total income * 100
The share = $8,868 / $16,800 * 100
The share = 0.5278571 * 100
The share = 52.79%
What share of U.S. total income in 2013 consisted of Corporate profits?
The share = Corporate profits /Total income * 100
The share = $1,686/$16,800 * 100
The share = 0.100357 * 100
The share = 10.03%
The presence of media hubs, coalitions focusing on specific environmental challenges, and headquarters for multinational corporations in major cities help explain how such cities... *
Answer: B
Explanation: Are linked globally in ways that transcend national political boundaries
Answer:b
Explanation:
Huelskamp Corporation has provided the following data concerning its overhead costs for the coming year: The company has an activity-based costing system with the following three activity cost pools and estimated activity for the coming year: The Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining costs. The distribution of resource consumption across activity cost pools is given below: The activity rate for the Assembly activity cost pool is closest to:
Answer:
$2.85 per labor hours
Explanation:
Note: Full question is attached below as picture
Total Overhead = Wages + Depreciation + Rent
Total Overhead = (360,000*25%) + (120,000*15%) + (180,000*35%)
Total Overhead = $90,000 + $18,000 + $63,000
Total Overhead = $171,000
Activity rate = Total Overhead / Assembly
Activity rate = $171,000 / 60,000
Activity rate = $2.85 per labor hours
1. Gross domestic product is
a. the total value of all goods produced in a year.
b. the total value of all final goods and services produced in a year.
c. the total value of all services produced in a year.
d. none of the above.
ost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: Sales $1,326,700 Gross profit 358,200 Indirect labor 119,400 Indirect materials 49,100 Other factory overhead 22,600 Materials purchased 676,600 Total manufacturing costs for the period 1,464,700 Materials inventory, end of period 49,100 Using the above information, determine the following missing amounts: a. Cost of goods sold $fill in the blank 1 b. Direct materials cost $fill in the blank 2 c. Direct labor cost $fill in the blank 3
Answer and Explanation:
The computation is shown below
a . The cost of goods sold is
= Sales - cost of goods sold
= $1,326,700 - $358,200
= $968,500
b. The direct material cost is
= Material purchased - ending inventory - indirect materials
= $676,600 - $49,100 - $49,100
= $578,400
c, The direct labor cost is
= Total manufacturing overhead cost - other factory overhead - direct material cost - indirect material - indirect labor
= $1,464,700 - $22,600 - $578,400 - $49,100 - $119,400
= $695,200
Aerotron Electronics has just bought a used delivery truck for $15,000. The small business paid $1,000 down and financed the rest, with the agreement to pay nothing for the entire first year and then to pay $ 506.83 at the end of each month over years 2, 3, and 4 (first payment is in thirteenth month).
a. What nominal interest rate is Aerotron paying on the loan? %
b. What effective interest rate are they paying? %
c. How much of the fourteenth month's payment is interest? How much is principal? payment interest = $ , and principal = $
d. How much of the eighteenth month's payment is interest? How much is principal? payment interest = $ , and principal = $
e. How much of the twenty-second month's payment is interest? How much is principal? payment interest = $ , and principal= $
Answer:
a) 12.23%
b) 12.94%
c) 14th month payment interest = $157.33
14th month principal = $369.50
d) 18th month payment interest = $142.04
18th month payment interest = $384.79
e) 22nd month payment interest = $126.12
22nd month payment interest = $400.71
Explanation:
price of truck = $15000
down payment = $1000
Loan amount = $14,000
assume monthly interest rate = r%
Loan amount after 1 year will be = 14000 * (1+r%)12
next we will determine the annuity factor = [ (1/r)-[(1/r)*(1/ (1+r)t)] ]
r = periodic interest rate , t = number of payments
monthly loan payment = $14000*(1+r%)12 / [ (1/r)-[(1/r)*(1/ (1+r)36)] ]
hence r = 1.019%
a) nominal interest rate
= 1.019% *12 = 12.23%
b) effective interest rate
= (1+1.019%)^12 -1 = 12.94%
attached below is the Amortization schedule
c) 14th month payment interest = $157.33
14th month principal = $369.50
d) 18th month payment interest = $142.04
18th month payment interest = $384.79
e) 22nd month payment interest = $126.12
22nd month payment interest = $400.71
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $23,500 Assets $121,000 Debt $31,600 Costs 16,700 Equity 89,400 Taxable income $6,800 Total $121,000 Total $121,000 Taxes (24%) 1,632 Net income $5,168 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,560 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,300. What is the external financing needed?
Answer:
$20,370.5
Explanation:
Net Profit Margin = Net Profit / Sales= 5,168 / 23500 = 0.219915 = 21.99%
Dividend Payout Ratio = Dividends / Net profit = $1,560/$5,168 = 0.3018576 = 30.19%
Increase in Assets = Total Assets / Current Sales * Change in Sales
Increase in Assets = 121,000 /23,500 * (28,300-23,500)
Increase in Assets = 5.1489362 * 4800
Increase in Assets = $24714.89
Increase in Current Liabilities = Current Liabilities / Current Sales * Change in Sales = 0
Earnings Retained = Revised sales * Net profit margin * (1- dividend payout ratio)
Earnings Retained = $28,300 * 21.99% * (1 - 30.19%)
Earnings Retained = $28,300 * 0.2199 * 0.6981
Earnings Retained = $4344.39497
Earnings Retained = $4344.39
External Financing Needed = Increase in Assets - Increase in Current Liabilities - Earnings Retained
External Financing Needed = $24714.89 - $0 - $4344.39
External Financing Needed = $20,370.5
ecause of coronavirus, demand for Vitamin C tablets increased significantly at CVS. CVS started to observe a weekly demand of 85 boxes of Vitamin C tablets with a standard deviation of 50 boxes. The cost of placing an order is $200, and the time from ordering to receipt is 4 weeks. The procurement cost (wholesale price) of the product is $15. The annual inventory carrying cost is 10% of the procurement cost of the product. What is the reorder point if it wants to achieve a stock out probability of 5%
Answer:
505 boxes approximately
Explanation:
The weekly demand is = d = 85 boxes
Standard deviation s = 50
Cost of placing order = $200
Ordering time = lead time L = 4 weeks
Stock out probability = 5% = 1-0.05 = 0.95
The reorder point has this formula:
(D*L)+(Z*s*√L)
To get the value of Z we use this excel function NORMSINV(0.95) = 1.644853672
When we put in values into the formula we have:
(85x4)+(1.644853672x50x2)
= 340 + 164.485
= 504.5
Approximately 505 boxes
Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes Group of answer choices a price and a subject. a duration and a termination. specific quality standards. an offer and an acceptance.
Answer:
an offer and an acceptance.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In this scenario, Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes an offer and an acceptance.
At the International Toy Fair, you decide to study retailers to understand how to improve their experience at your booth. You recruit 100 attendees each day of the three-day convention who agree to evaluate 10 booths of their choosing and record their evaluations on digital tablets. You take pictures of each of the booths evaluated, and tally the results of these 300 online surveys. Totally you have 3,000 booth evaluations, covering more than 120 different booths. You designed a:________
a. monitoring study
b. qualitative research study
c. quantitative research study
d. causal-explanatory study
e. descriptive study
Answer:
quatitative research study
Explanation:
In Business budgets and a demand for speed usually needs or dictate a single-methodology study.
Case study is simply defined as a form of qualitative or mixed method research and it uses a form of an intense examination of an individual, group, or organization. It is often refered to as an ABA design. In single-case experimental design, it baseline data are obtained (A) the IV is introduced and behavior is measured again (B) thereafter the IV is withdrawn and behavior is observed a third time. (A)
The purpose of the equivalent-unit computation is to ________. Group of answer choices satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent-units convert completed units into the amount of partially completed output units that could be made with that quantity of input predict the future production capabilities of the organization use a common metric to estimate the amount of work done on units in a period
Answer:
B)assist the business in determining the cost assigned to ending inventory and work-in-process inventory
Explanation:
THIS IS THE COMPLETE QUESTION BELOW
The purpose of the equivalent-unit computation is to ________.A)convert completed units into the amount of partially completed output units that could be made with that quantity of inputB)assist the business in determining the cost assigned to ending inventory and work-in-process inventoryC)predict the future production capabilities of the organizationD)satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent unit.
, Equivalent units in cost accounting helps to know the amount of material/ laborthat are been tied up in units as far as production is concerned it can be regarded as multiplication of units in production with percentage of units which are complete or with the one that are in process. It should be noted that The purpose of the equivalent-unit computation is to assist the business in determining the cost assigned to ending inventory and work-in-process inventory
On December 31, 2014, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 11% is imputed.
Instructions:
Prepare the entries that would be recorded by Oakbrook Inc. for the sale and for the receipts and interest on the following dates. (Assume that the effective-interest method is used for amortization purposes.)
(a) December 31, 2014.
(b) December 31, 2016.
(c) December 31, 2018.
(d) December 31, 2015.
(e) December 31, 2017.
Answer:
(a) December 31, 2014.
Dr Cash 40,000
Dr Notes receivable 80,000
Cr Service revenue 102,049
Cr Discount on notes receivable 17,951
(b) December 31, 2016.
Dr Cash 20,000
Dr Discount on notes receivable 5,376
Cr Notes receivable 20,000
Cr Interest revenue 5,376
(c) December 31, 2018.
Dr Cash 20,000
Dr Discount on notes receivable 1,982
Cr Notes receivable 20,000
Cr Interest revenue 1,982
(d) December 31, 2015.
Dr Cash 20,000
Dr Discount on notes receivable 6,825
Cr Notes receivable 20,000
Cr Interest revenue 6,825
(e) December 31, 2017.
Dr Cash 20,000
Dr Discount on notes receivable 3,768
Cr Notes receivable 20,000
Cr Interest revenue 3,768
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
a. 4.21
b. 15.00
c. 4.00
d. 3.75
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00d. 3.75
Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 Provided $45,000 of cleaning services on account. Collected $39,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Events Affecting Year 2 Wrote off a $300 account receivable that was determined to be uncollectible. Provided $62,000 of cleaning services on account. Collected $61,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.
Question Completion:
Show the effects of the transactions on the accounting equation for each year.
Answer:
Rosie Dry Cleaning
Effects on the accounting equation of Assets = Liabilities + Equity:
Year 1:
Assets (Accounts Receivable +$45,000) = Liabilities + Equity (Retained earnings: Service Revenue +$45,000)
Assets (Cash +$39,000; Accounts Receivable -$39,000) = Liabilities + Equity
Assets (Accounts Receivable ($450)) = Liabilities + Equity (Retained Earnings - Bad Debt Expense ($450))
Year 2:
Assets (Accounts Receivable ($300)) = Liabilities + Equity (Retained Earnings: Bad Debts Expense ($300))
Assets (Accounts Receivable +$62,000) = Liabilities + Equity (Retained Earnings: Service Revenue +$62,000)
Assets (Cash +$61,000; Accounts Receivable -$61,000) = Liabilities + Equity
Assets (Accounts Receivable ($620)) = Liabilities + Equity (Retained Earnings: Bad Debt Expense ($620))
Explanation:
a) Data and Analysis:
Year 1:
Accounts Receivable $45,000 Service Revenue $45,000
Cash $39,000 Accounts Receivable $39,000
Accounts Receivable ($450) Bad Debt Expense ($450)
Year 2:
Accounts Receivable ($300) Bad Debts Expense $300
Accounts Receivable $62,000 Service Revenue $62,000
Cash $61,000 Accounts Receivable $61,000
Accounts Receivable ($620) Bad Debt Expense ($620)
b) The accounting equation is an important concept of accounting which explains that at every given time, the assets of the business are equal to its liabilities and equity. The implication is that the entity's assets are funded by a combination of debts to third parties and owners' equity (capital contributions + retained earnings).
Which of the statements is not true about a bank run? Fears leading to bank runs can be self-fulfilling. There was a wave of bank runs during the Great Depression. Bank runs are bad for the bank affected and usually good for the bank's competitors. Deposit insurance is designed to reduce the risk of bank runs for depository banks. Since the Great Depression the government has set up regulation that has eliminated most bank runs.
Answer:
Bank runs are bad for the bank affected and usually good for the bank's competitors
Explanation:
A bank run happens when bank depositors withdraw their money deposited due to fear of the bank's solvency.
Bank runs can work as a self fulfilling prophecy. For example, if there a rumour that a bank is insolvent and it is not, depositors would start withdrawing their monies. This would eventually lead to the bank being insolvent.
Bank runs affect other banks and can lead to the collapse of the whole financial system. Bank runs occurred during the great depression
Bank runs led to the establishment of deposit insurance. The aim of deposit insurance is to increase the confidence of depositors in banks because depositors know their deposits are insured
Hubert lives in San Francisco and runs a business that sells boats. In an average year, he receives $842,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $452,000; he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Hubert does not operate this boat business, he can work as an accountant, receive an annual salary of $48,000 with no additional monetary costs, and rent out his showroom at the $38,000 per year rate. No other costs are incurred in running this boat business.
Identify each of Hubert's costs in the following table as either an implicit cost or an explicit cost of selling pianos.
Implicit Cost Explicit Cost
The wholesale cost for the pianos that Hubert pays the manufacturer
The salary Hubert could earn if he worked as an accountant
The wages and utility bills that Hubert pays
The rental income Hubert could receive if he chose to rent out his showroom
Complete the following table by determining Hubert's accounting and economic profit of his piano business.
Profit
(Dollars)
Accounting Profit
Economic Profit
If Hubert's goal is to maximize his economic profit, he( should, should not) stay in the piano business because the economic profit he would earn as an accountant would be $______.
Answer:
Explicit costs are normal costs of operating a business.
Implicit costs are opportunity costs meaning that they are the benefits foregone by engaging in a certain course of action.
The wholesale cost for the pianos that Hubert pays the manufacturer ⇒ EXPLICIT COST.
The salary Hubert could earn if he worked as an accountant ⇒ IMPLICIT COST.
The wages and utility bills that Hubert pays ⇒ EXPLICIT COST
The rental income Hubert could receive if he chose to rent out his showroom. ⇒ IMPLICIT COSTS
Accounting Profit = Revenue - Explicit costs
= 842,000 - 452,000 - 301,000
= $89,000
Economic Profit = Revenue - Explicit costs - Implicit costs
= 842,000 - 452,000 - 301,000 - 38,000 - 48,000
= $3,000
If Hubert's goal is to maximize his economic profit, he should stay in the piano business because the economic profit he would earn as an accountant would be -$3,000.
Economic profit as accountant = Salary + rental income - accounting profit from piano
= 48,000 + 38,000 - 89,000
= -$3,000
Detrich Products is planning to upgrade an aging manufacturing operation five years from now at a cost of $100,000. If the company plans to deposit money into an account each year for four years beginning two years from now (first deposit is in year 2) to pay for the expansion, the amount of the deposit at 10% per year interest is closest to
Answer:
$21,547.08
Explanation:
To get the amount of the deposit, we use the PMT function of MS Excel
Rate = 10%
Nper = 4
Pv = 0
FV = -100000
PMT = ?
The amount of the deposit = PMT(Rate, Nper, PV, -FV)
The amount of the deposit = PMT(10%, 4, 0, -100000)
The amount of the deposit = 21547.08037
The amount of the deposit = $21,547.08
So, the amount of the deposit at 10% per year interest is closest to $21,547.08