Answer:
7.139
Explanation:
From the given information:
By using the center of gravity method, we can calculate the optimal x-coordinate.
The center of gravity technique evaluates existing facilities, the distances and the length between them, and the amounts of products to be shipped when citing single facilities.
Center of gravity method can be expressed as:
[tex]X - coordinate = \dfrac{\sum X \times W}{\sum W}[/tex]
[tex]\implies \dfrac{(8 \times 100)+(2\times 220) + ( 6\times 80)+(4 \times 180) +(12\times 350)}{100+220+80+180+350}[/tex]
[tex]\implies \dfrac{(800)+(440) + ( 480)+(720) +(4200)}{930}[/tex]
[tex]\implies \dfrac{6640}{930}[/tex]
=7.139
Which types of post secondary education are examples of traditional academic education? Check all that apply
A. Associate Degree
B. Apprenticeship
C. Bachelor’s Degree
D. Technical School Degree
Write about why it is important for world leaders to make just decisions for their people and to treat neighboring countries with respect.
Answer: Approaches to authority and decision making are not the only ways in which cultures differ, but they are arguably the most important in the leadership context. ... (For a more general treatment of cultural differences, take a look at my May 2014 ... with companies in those countries, you might have noticed that a lot of people ...
Explanation:
Which individuals is exempt from licensure under Florida statute 475?
Answer:
Explanation:
The plumber must first be licensed under F.S. 475, Part II. Persons appointed by a court of law to perform real estate services are exempt from real estate licensing requirements when employed by government agencies, railroads, rural electric cooperatives, or public utilities.
Steve and Stephanie Pratt purchased a home in Spokane, Washington, for $575,000. They moved into the home on February 1 of year 1. They lived in the home as their primary residence until June 30 of year 5, when they sold the home for $927,500. (Leave no answer blank. Enter zero if applicable.)
a. What amount of gain on the sale of the home are the Pratts required to include in taxable income?
Recognized gain
b. Assume the original facts, except that Steve and Stephanie lived in the home until January 1 of year 3 when they purchased a new home and rented out the original home. They finally sell the original home on June 30 of year 5 for $927,500. Ignoring any issues relating to depreciation taken on the home while it was being rented, what amount of realized gain on the sale of the home are the Pratts required to include in taxable income?
Recognized gain
c. Assume the same facts as in part (b), except that the Pratts lived in the home until January of year 4 when they purchased a new home and rented out the first home. What amount of realized gain on the sale of the home will the Pratts include in taxable income if they sell the first home on June 30 of year 5 for $927,500?
Recognized gain
d. Assume the original facts, except that Stephanie moved in with Steve on March 1 of year 3 and the couple was married on March 1 of year 4. Under state law, the couple jointly owned Steve’s home beginning on the date they were married. On December 1 of year 3, Stephanie sold her home that she lived in before she moved in with Steve. She excluded the entire $102,500 gain on the sale on her individual year 3 tax return. What amount of gain must the couple recognize on the sale in June of year 5?
Recognized gain
Answer:
Steve and Stephanie Pratt
a. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
b. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
c. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
d. The amount of gain on the sale of the home that the Pratts are required to include in their taxable income is:
= $352,500
Explanation:
a) Data and Calculations:
Initial purchase cost of a home in Spokane = $575,000
Selling price of the home on June 30 of Year 5 = $927,500
Recognized gains = Selling price of the home Minus Initial Purchase Cost
= $352,500 ($927,500 - $575,000)
On February 28, 2009, $5,000,000 of 6%, 10-year bonds payable, dated December 31, 2008, are issued. Interest on the bonds is payable semiannually each June 30 and December 31. If the total amount received (including accrued interest) by the issuing corporation is $5,060,000, which of the following is correct?
a) The bonds were issued at a premium.
b) The amount of cash paid to bondholders on the next interest date, June 30, 2009, is $300,000.
c) The amount of cash paid to bondholders on the next interest date, June 30, 2009, is $50,000.
d) The bonds were issued at a discount.
Answer:
a) The bonds were issued at a premium.
Explanation:
Given that
There are the bonds of $5,000,000
And, if the total amount received that involved the accrued interest also so the amount of the bond is $5,060,000
This means the bond is issued at premium as the value is increased i.e. fro m $5,000,000 the value is now $5,060,000
So, the option a is correct
And, the rest of the options would be incorrect
On December 31, 2020, Ayayai Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Ayayai Co. agreed to accept a $296,600 zero-interest-bearing note due December 31, 2022, as payment in full. Hayduke is somewhat of a credit risk and typically borrows funds at a rate of 12%. Ayayai is much more creditworthy and has various lines of credit at 6%.
1.) Prepare the journal entry to record the transaction of December 31, 2020, for the Ed Abbey Co.
2.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2021.
3.) Assuming Ed Abbey Co.’s fiscal year-end is December 31, prepare the journal entry for December 31, 2022.
Answer:
Ed Abbey Co. (Ayayai Co.)
Journal Entries:
1. December 31, 2020:
Debit Accounts receivable $296,600
Credit Consulting revenue $296,600
To record consulting services performed on account.
December 31, 2020:
Debit Notes receivable $296,600
Credit Accounts receivable $296,600
To record the acceptance of notes.
December 31, 2021:
Debit Interest receivable $35,592
Credit Interest revenue $35,592
To accrue interest on notes receivable.
December 31, 2022:
Debit Interest receivable $35,592
Credit Interest revenue $35,592
To accrue interest on notes receivable.
Debit Cash $367,784
Credit Notes receivable $296,600
Credit Interest receivable $35,592
To record the full settlement of principal and interests.
Explanation:
a) Data and Analysis:
December 31, 2020: Accounts receivable $296,600 Consulting revenue $296,600
December 31, 2020: Notes receivable $296,600 Accounts receivable $296,600
December 31, 2021:
Interest receivable $35,592 Interest revenue $35,592
December 31, 2022:
Interest receivable $35,592 Interest revenue $35,592
Cash $332,192 Notes receivable $296,600 Interest receivable $35,592
The price of gasoline is $1 per gallon and the price of a hamburger is $4. If you currently receive marginal utility of 5 from gasoline and marginal utility of 8 from a hamburger, you should buy less gasoline and more hamburgers.
a. True
b. False
Answer:
false
Explanation:
Marginal utility is the additional utility derived from consuming one more unit of a good
the consumption decision is to consume more units of a good that gives the higher utility per good.
Marginal utility per good = marginal utility / price of the good
gasoline = 5 / 1 = 5
hamburger = 8/4 = 2
gasoline gives a higher utility per good. Thus, more of gasoline should be purchased
If anyone knows about businesses can you help me please
Answer:
I believe it is team standard
Explanation:
One way a group of people can become an effective team is to create team standards. These are essentially the rules that govern how the team works and behaves. To be effective, the team standards need to be set and agreed to by the team members and not dictated to them by a boss or manager.
Keynesian economics:__________
a. focuses on the long run rather than the short run.
b. stresses the importance of savings to increase investment and long-run aggregate supply.
c. emphasizes that the economy is inherently stable and self-correcting.
d. maintains that prices and wages are fully flexible.
e. focuses on spending, or aggregate demand, as the fundamental factor in the economy.
Answer:
The correct answer is the option E: focuses on spending, or aggregate demand, as the fundamental factor in the economy.
Explanation:
To begin with, in the economics field the Keynesian theory was developed by John Keynes after the Great Depression in 1929 due to the fact that by then the economics area was conducted by neoliberal economists and it lead to the situation in which they found themself then so Keynes proposed the intervention of the government as more important for the economy and focusing primarily in the spending of this one with the purpose of creating more jobs and therefore the people will increase the demand because they would have money now.
Presente perOW IS INTormation rerarea Orrounder company.
Retail
Cost
$148,740
1,359,000
Beginning inventory
Purchases
Markups
Markup cancellations
Markdowns
Markdown cancellations
Sales revenue
$285,000
2,148.000
96.200
16,300
31,800
4,700
2,209,000
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, eg.
78% and final answer to O decimal places, eg. 28,987.)
Ending inventory using conventional retail inventory method
$
Answer:
Note: "The complete and organized question is attached below as picture"
Conventional Inventory Method
Particulars Cost Retail
Beginning inventory A $148,740 $285,000
Purchases $1,359,000 $2,148,000
Markups-net $79,900
Current year's addition B $1,359,000 $2,227,900
Goods available for sale C=A+B) $1,507,740 $2,512,900
Markdown-net ($27,100)
Sales ($2,209,000)
Ending inventory at retail $276,800
Cost-to-retail percentage = $1,507,740 / $2,512,900*100
Cost-to-retail percentage = 0.6 * 100
Cost-to-retail percentage = 60%
Ending inventory at cost = Ending inventory at retail * Cost-to-retail percentage
Ending inventory at cost = $276,800 * 60%
Ending inventory at cost = $166,080
On October 1, 2021, Sonoma Company leased equipment from Napa Inc. in lease payable in five equal annual payments of $540,000, beginning Oct 1, 2022. Similar transactions have carried an 11% interest rate. The right-of-use asset would be recorded at:________ (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Answer:
$1,995,786
Explanation:
Calculation to determine what The right-of-use asset would be recorded at:
Using this formula
Right-of-use asset=Annual payments*PV ordinary annuity
Where,
Annual payments=$540,000
PV ordinary annuity of $1: n = 5; i = 11%=3.69590
Let plug in the formula
Right-of-use asset= $540,000 × 3.69590
Right-of-use asset = $1,995,786
Therefore The right-of-use asset would be recorded at:$1,995,786
How do family environment influence moral development during adolescence?
Answer:
Explanation:
In the family environment, children come to consider their actions not only in terms of justice but also in terms of emotional needs. Children learn the value of social support from their families and develop motivations based on kindness, generosity, and empathy, rather than on only personal needs and desires.
Answer:
In the family environment, children come to consider their actions not only in terms of justice but also in terms of emotional needs. Children learn the value of social support from their families and develop motivations based on kindness, generosity, and empathy, rather than on only personal needs and desires.
Explanation:
During January, Deluxe Printing pays employee salaries of $0.83 million. Withholdings in January are $76,000 for the employee portion of FICA, $210,000 for federal and state income tax, and $40,000 for the employee portion of health insurance (payable to Blue Cross/Blue Shield). The company incurs an additional $48,000 for federal and state unemployment tax, and $20,000 for the employer portion of health insurance.
The journal entry to record employer-provided fringe benefits includes:______.
Answer:
Credit to accounts payable (blue cross/blue shield) of $20,000
Explanation:
Based on the information given we were told that the amount of $20,000 is the amount for the employer portion of health insurance which therefore means that The appropiate journal entry to record employer-provided fringe benefits includes:
CREDIT To Accounts Payable (blue cross/blue shield) of $20,000.
Based on the following petty cash information, prepare
a. the journal entry to establish a petty cash fund
b. the journal entry to replenish the petty cash fund.
On January 1, 2021, a check was written in the amount of $200 to establish a petty cash fund. During January, the following vouchers were written for cash removed from the petty cash drawer:
Voucher No. Account Debited Amount
1 Phone Expense $17.50
2 Automobile Expense 33.00
3 Joseph Levine, Drawing 54.00
4 Postage Expense 12.50
5 Charitable Contributions Expense 15.00
6 Miscellaneous Expense 49.00
Answer:
a. Date Description Debit Credit
Jan 1 Petty cash $200
Cash $200
(Establishment of petty cash fund)
b. Date Description Debit Credit
Jan 31 Phone Expense $17.50
Automobile Expense $33
Joseph Levine, Drawing $54
Postage Expense $12.50
C. Contributions Expense $15
Miscellaneous Expense $49
Petty cash $181
(Replenishment of petty cash fund)
Your boss is considering a 5-year investment project. If the project is accepted, it would require an immediate spending of $678 to buy all necessary production equipment. This equipment would be sold at the end of the project and bring your company estimated $144 in sale proceeds after taxes (or after-tax salvage value). Your boss's consulting team estimated that the annual after-tax profits (or operating cash flows) would equal $173. The team also recommends immediately setting aside $58 in cash to cover any unforeseen expenses. The required annual rate of return is 8.1%.
Calculate the Net Present Value of this proposed investment project. (Do NOT use "S" in your answer. Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your answer to TWO decimal places. For example, 1,000,23 or -1,000.23) Focus E- 17 786 words English (United States)
Answer:
$50.47
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = - ($678 + $58 ) = -736
Cash flow in year 1 - 4 = $173
Cash flow in year 5 = $173 + $144
I = 8.1
NPV = 50.47
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Raposa, Inc., produces a special line of plastic toy racing cars. Raposa, Inc., produces the cars in batches. To manufacture a batch of the cars, Raposa, Inc., must set up the machines and molds. Setup costs are batch-level costs because they are associated with batches rather than individual units of products. A separate Setup Department is responsible for setting up machines and molds for different styles of car.
Setup overhead costs consist of some costs that are variable and some costs that are fixed with respect to the number of setup-hours. The following information pertains to June 2015:
Actual amount Static-budget Amounts
Amounts Units produced and sold 15,700 11,950
Batch size (number of units per batch) 325 265
Setup-hours per batch 3 4.25
Variable overhead cost per setup-hour $48 $45
Total fixed setup overhead costs $11,310 $9,010
Calculate the efficiency variance for variable overhead setup costs. (Round all intermediary calculations two decimal places and your final answer to the nearest whole number.)
a. $435 unfavorable
b. $4,810 favorable
c. $4,810 unfavorable
d. $435 favorable
Answer:
b. $4,810 favorable
Explanation:
Efficiency variance for variable overhead setup cost:
A. ((Actual units/Budget batch size)*Budget setup hours) * Budgeted overhead cost) = (((15700/265)*4.25)*$45 = $11,330.66
B . ((Actual units/Actual batch size)*Budget setup hours) * Budgeted overhead cost) = (((15700/325)*3)*$45 = $6,521.53
Efficiency variance for variable overhead setup cost = A - B
Efficiency variance for variable overhead setup cost = $11,330.66 - $6,521.53
Efficiency variance for variable overhead setup cost = $4.809.13 Favorable
The Consumer Division lost $28,000 and the Industrial Division had operating income of $58,000. Management has analyzed the situation and wants you to do a differential analysis to determine the increase or decrease in overall operating income based on the following:
Expected decrease in revenues $280,000
Expected decrease in total variable costs $200,000
Expected decrease in fixed costs $102,000
a. $2,000 increase in operating income
b. $80,000 decrease in operating income
c. $22,000 increase in operating income
d. $80,000 decrease in operating income
Answer: c. $22,000 increase in operating income
Explanation:
Expected decrease in revenues -$280,000
Expected decrease in total variable costs (-$200,000)
Expected decrease in fixed costs (-$102,000)
Expected increase(decrease) in operating income $22,000
Costs are to be deducted from revenues so if the costs are decreasing, the mathematical treatment would be to add the decrease to the revenues which is how the above was calculated.
Gard Inc. has compiled the following information related to its five products. Costs of disposal are estimated to be 10% of selling price, and gross profit is estimated to be 25% of the selling price. Determine the value of inventory applying the lower-of-cost-or-market rule to each individual inventory item.
Answer:
Item Inventory at the lower-of-cost-or-market
#1 $214.50
#2 $240.00
#3 $266.50
#4 $315.00
#5 $422.50
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See attached pdf file for the complete question.
Also note: See the attached excel file for the determination of the value of inventory by applying the lower-of-cost-or-market rule.
From the attached excel file, we have:
Item Inventory at the lower-of-cost-or-market
#1 $214.50
#2 $240.00
#3 $266.50
#4 $315.00
#5 $422.50
Purchasing power parity does not hold in the short to medium run because:____.
Answer:
some goods aren't internationally traded
Explanation:
Purchasing power parity is most popularly known as the PPP. It may be defined as the measure of the prices of the various countries which makes use of the price of some specific goods in order to compare the absolute purchasing capability or power for the countries' currencies.
It is used to measure and compare prices at different locations.
The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.
Tickets Today contracts with the producer of Riverdance to sell tickets online. Tickets Today charges each customer a fee of $6 per ticket and receives $15 per ticket from the producer. Tickets Today does not take control of the ticket inventory. Average ticket price for the event is $150. How much revenue should Tickets Today recognize for each Riverdance ticket sold?
a. $6 because the $15 from the producer is similar to a negative cost of goods sold
b. $150 because the $135 is cost of goods sold paid to the Riverdance producer
c. $21 because both the fee from the customer and the producer are earned
d. $156 because the $135 is cost of goods sold paid to the Riverdance producer
e. None of the above
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 28.0 Process time 1.0 Inspection time 0.4 Move time 3.2 Queue time 5.1 The delivery cycle time was: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 36.3 hours 8.3 hours 37.7 hours 3.2 hours
Answer:
37.7 hours
Explanation:
Calculation to determine what The delivery cycle time was:
Using this formula
Delivery cycle time=Wait time +Throughput time
Where,
Wait time=28.0
Throughput time=Process time 1.0+ Inspection time 0.4+ Move time 3.2 +Queue time 5.1=9.7
Let plug in the formula
Delivery cycle time=28.0+9.7
Delivery cycle time=37.7
Therefore Delivery cycle time was 37.7
You obtain the following estimates for an AR(2) model of some returns data
yt = 0.803yt−1 + 0.682yt−2 + ut
Where ut is a white noise error process. By examining the characteristic equation, check the estimated model for stationarity.
Answer:
AR(2) model is not stationary
Explanation:
Given model : Yt = 0.803yt-1 + 0.682yt-2 + ut ---- ( 1 )
ut = noise error process
Aim : Check estimated model for stationarity
step 1 : represent the estimated polynomial of the model ( where: ut ∪ N(o,б^2 ) rewrite equation 1
Yt - 0.803yt-1 - 0.682yt-2 = ut ------- ( 2 )
hence the polynomial can be represented as :
( 1 - 0.803B - 0.682B^2 )Yt = ut
Characteristic of the obtained polynomial can be represented as ;
1 - 0.803λ - 0.682λ^2 - 1 = 0
attached below is the remaining part of the solution
Using Present Value Concepts for Decision Making
You have just won the state lottery and have two choices for collecting your winnings. You can collect $105,000 today or receive $20,700 at the end of each year for the next seven years. A financial analyst has told you that you can earn 9% on your investments.
Required:
1. Calculate the present value of both the options (FV of $1, PV of $1, FVA of $1, and PVA of $1).
2. Which alternative should you select?
Answer:
1. Option 1: Present value of cash winnings collected today = $105,000 * 1 = $105,000
Option 2: Present value of annual cash collections = $20,700 * 5.033 = $104,183
2. Option 1 should be selected.
Explanation:
a) Data and Calculations:
Cash winnings collected today = $105,000
Annual cash collection = $20,700
Discount factor = 9%
Period of annual cash flows = 7 years
Present Value Annuity Factor at 9% for 7 years = 5.033
Present value of cash winnings collected today = $105,000 * 1 = $105,000
Present value of annual cash collections = $20,700 * 5.033 = $104,183
NPV = ($817)
b) Option 1 is worth more in present value terms than option 2. The present value consideration is all about taking into account the time value of money. Using a present value annuity factor of 5.033, the annual cash inflows are determined to their present value to be $104,183. This is less than the $105,000 cash collected today in bulk.
Paul had a great job as a bank executive. Unfortunately, his bank came under scrutiny by federal regulators, and although Paul had done nothing illegal, he ended up being fired. Unfortunately for Paul, he had a number of debts. Among his assets were a house worth $250,000 on which he owed $150,000 to a bank that held a security interest; three vehicles; an expensive watch worth $5,000; and $120,000 in an Individual Retirement Account (IRA). He owed $900 per month in child support to his ex-wife Suzy and was behind on payments in the amount of $1,800. He also owed $2,000 in wages consisting of four months of back pay to Bob who took care of Paul's landscaping needs and swimming pool care. All creditors angrily demanded payment from liquidation of Paul's assets. Paul, on the other hand, claims that he needs all the above-mentioned assets and that he should not have to give up anything. Only federal bankruptcy exemptions apply to Paul's case. Which of the following is true regarding Paul's claim to his Individual Retirement Account (IRA)?
a. The IRA is entirely exempt from the claims of creditors.
b. The IRA is entirely subject to the claims of creditors.
c. The IRA is exempt up to $1,000.
d. The IRA is exempt up to $10,000.
e. The IRA is exempt up to $100,000.
Answer:
The answer is "Choice a".
Explanation:
Accounts payable increase $9,000
Accounts receivable increase 4,000
Salaries payable decrease 3,000
Amortization expense 6,000
Cash balance, January 1 22.000
Cash balance, December 31 15,000
Cash paid as dividends 29,000
Cash paid to purchase land 90,000
Cash paid to retire bonds payable at par 60,000
Cash received from issuance of common stock 35,000
Cash received from sale of equipment 17,000
Depreciation expense 29,000
Gain on sale of equipment 4,000
Inventory decrease 13,000
Net income 76,000
Prepaid expenses increase 2,000
Cash Flow statement - indirect method
Cash Flow
Net Income 76,000.00
Gain on Sale of Equipment $(4,000.00)
Depreciation 29,000.00
Amortization Expense 6,000.00 $31,000.00
Adjustments
Decrease in inventory $13,000.00
Gain On sale of equipment (4,000.00)
Decrease In accrued Liability (3,000.00)
Increase in prepaid expenses (2.000.00)
Increase in Accounts Payable 9,000.00 13,000.00
120,000.00
Determine which of the above affects the Investing Activities (IA) and which affects the Financing Activities (FA). Note: Insert IA or FA next to the information above, or fill in the information below.
Answer:
a. The items that affect Investing Activities (IA) are as follows:
Cash paid to purchase land 90,000
Cash received from sale of equipment 17,000
b. The items that affect Financing Activities (FA) are as follows:
Cash paid as dividends 29,000
Cash paid to retire bonds payable at par 60,000
Cash received from issuance of common stock 35,000
Explanation:
Using the items that affect the Investing Activities (IA) and the Financing Activities (FA) in the answer above, the indirect cash flow statements can be completed as follows:
Cash Flow statement - indirect method
For the Year Ended December 31, ...
Details $ $
Net Income 76,000.00
Gain on Sale of Equipment (4,000.00)
Depreciation 29,000.00
Amortization Expense 6,000.00
Adjustments
Decrease in inventory 13,000.00
Gain On sale of equipment (4,000.00)
Decrease In accrued Liability (3,000.00)
Increase in prepaid expenses (2.000.00)
Increase in Accounts Payable 9,000.00
Cash flows from operating activities 120,000.00
Investing Activities (IA)
Cash paid to purchase land (90,000.00)
Cash received from sale of equipment 17,000.00
Cash flows from investing activities 73,000.00
Financing Activities (FA)
Cash paid as dividends (29,000.00)
Cash paid to retire bonds payable at par (60,000.00)
Cash from common stock issued 35,000.00
Cash flows from financing activities 54,000.00
Net cash outflows for the year (7,000.00)
Cash balance, January 1 22,000.00
Cash balance, December 31 15,000.00
which research aims at finding a solution for an immediate problem facing a society or an industry/business organisation
Answer:
Applied research
Explanation:
Applied research can be regarded as methodology that is used in solving a specific as well as practical issue that has effect on an individual or group.
This particular scientific method of study and research could be used in business, education, as well as medicine in order to create solutions which may improve health as well as solving scientific problems to development of new technology.
Applied research which is a research methodology used in creation of practical solutions for specific problems. It should be noted that Applied research aims at finding a solution for an immediate problem facing a society or an industry/business organisation
Suppose a profit-maximizing monopoly is able to employ group price discrimination. The marginal cost of providing the good is constant and the same in both markets. The marginal revenue the firm earns on the last unit sold in the market with the lower price will be:_________
Answer:
The description as per the given question is described in the below section.
Explanation:
The investor receives upon that final unit offered on the organization at the maximum bidder, equivalent to the average income.⇒ [tex]MR=MC[/tex]
Whenever such monopoly generates a lesser volume, [tex]MR > MC[/tex] could generate greater margins at these production additions to lowering production.Dillon rented his personal residence at Lake Tahoe for 14 days while he was vacationing in Ireland. He resided in the home for the remainder of the year. Rental income from the property was $4,800. Expenses associated with use of the home for the entire year were as follows:_______.
Real property taxes $ 3,050
Mortgage interest 12,125
Repairs 1,325
Insurance 1,510
Utilities 5,040
Depreciation 12,400
a. What effect does the rental have on Dillon’s AGI
Effect of rental activity on Dillon's AGI
b. What effect does the rental have on Dillon’s itemized deductions?
Itemizable real property taxes
Itemizable mortgage interest
a. Effect of rental activity on Dillon's AGI is $0.
b. Itemizable real property taxes -$3,050
Itemizable mortgage interest- $12,125
What is real property?Real property is defined as a parcel of land and everything permanently attached to it. The owner of real property has complete ownership rights, including the ability to possess, sell, lease, and enjoy the land.
Dillon rented his personal residence for a period not more than 15 days. He stayed for more than 15 days. If a taxpayer rented a house for less than 15 days and lived in it for more than 15 days, he is not required to include gross receipts in rental income in his AGI.
Dillon can deduct $3,050 in real estate taxes and $12,125 in mortgage interest as itemized deductions.
Therefore, Dillon does not require to include the rental income from the property in his AGI.
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The Jessica Co. has the following errors on its books as of December 31, 2018. The books for 2018 have not yet been closed.
a. On January 1, 2016, a machine had been purchased for $6,500. The machine had an estimated life of five years, but it was expensed in error. Straight-line depreciation with no salvage value should have been used.
b. On January 1, 2017, the company bought a four-year insurance policy for $800 and immediately charged the full premium to expense.
Required:
Prepare journal entries to correct these errors on December 31, 2018. Ignore income taxes.
Answer and Explanation:
The journal entry is given below;
a. Machine or equipment $6,500
To Accumulated depreciation ($6,500 × 3 ÷ 5) $3,900
To Retained earnings $2,600
(being the correction of the error is recorded)
b. Prepaid insurance Dr ($800 ÷ 4 × 2 ) $400
To Retained earnings $400
(being the correction of the error is recorded)
These two entries should be recorded to correct the given errors
Patriot Company produces flak jackets for military use. The company recently adopted a standard costing system and set the following standards for materials per unit of product:
Materials (Ballistic Nylon): 8 yards
$4 per yard During the most recent month, Patriot produced 5,500 units of flak jackets. Actual materials purchased and used were 40,000 yards at the price of $4.20 per yard. Based on the information above, answer the following questions: L 5 points]
(1) What was the total material costs incurred by the company during the month (i.e, actual costs of materials)?
(2) What should be the total material costs allowed for the production during the month (i.e., standard costs of materials)?
(3) What is the total variance for materials to be reported during the month? Is it favorable (F) or unfavorable (U)? materials price and quantity (usage) variances below. Indicate whether each variance is favorable (F or unfavorable (U
(4) Using either the template (columnar) approach or the formula approach, compute direct
Answer:
Patriot Company
1. The total material costs incurred by the company during the month (actual costs of materials) = $168,000
2. The total material costs allowed for the production during the month (i.e., standard costs of materials) = $176,000
3. The total variance for materials to be reported during the month is $8,000 F.
4. The Direct material price variance is = $8,000 U
5. The Direct material quantity variance is = $16,000 F
Explanation:
a) Data and Calculations:
Standard for materials per unit:
Materials (Ballistic Nylon): 8 yards $4 per yard = $32 per unit
Production in the most recent month = 5,500 units
Actual materials purchased and used = 40,000 yards at $4.20 per yard
1. The total material costs incurred by the company during the month (actual costs of materials) = $168,000 (40,000 * $4.20)
2. The total material costs allowed for the production during the month (i.e., standard costs of materials) = $176,000 (8 * 5,500 * $4.00)
3. The total variance for materials to be reported during the month = $8,000. It is favorable (F)
4. Direct materials price variance = (Standard price - Actual price) * Actual quantity
= ($4.00 - $4.20) * 40,000
= $8,000 U
5. Direct materials quantity variance = Standard quantity - Actual quantity * Standard price
= (44,000 - 40,000) * $4
= 4,000 * $4
= $16,000 F