Answer:
The answer is c
Explanation:
Answer:
The answer is c
Explanation:
Simplex Company has the following estimated costs for next year:Direct Materials $15,000Direct Labor $55,000Sales Commissions $75,000Salary of Production Manager $35,000Indirect Materials $5,000Advertising Expense $11,000Rent on Factory Equipment $16,000Simplex estimates that 10,000 direct labor and 16,000 machine-hours will be worked during the year. If overhead is applied on the basis of machine-hours, the overhead rate per hour will be:
Answer:
$3.5 per machine hour.
Explanation:
Per the above, we will need to calculate first Estimated manufacturing overhead , which is given as;
Estimated manufacturing overhead = Salary of production supervisor + Indirect materials + Rent on factory equipment
= $35,000 + $5,000 + $16,000
= $56,000
Predetermined overhead rate
= Estimated manufacturing overhead / Estimated machine hours
= $56,000 / 16,000 hours
= $3.50 per machine hour
The following information is available for Bandera Manufacturing Company for the month ending January 31:
Cost of goods manufactured $131,860
Selling expenses 44,050
Administrative expenses 23,290
Sales 280,560
Finished goods inventory, January 1 31,700
Finished goods inventory, January 31 28,900
For the month ended January 31, determine Bandera's
(a) cost of goods sold,
(b) gross profit, and
(c) net income
(a) Bandera Manufacturing Company Cost of Goods Sold January 31
(b) Bandera Manufacturing Company Gross Profit January 31
(c) Bandera Manufacturing Company Net Income January 31
Operating expenses:
Total operating expenses
The following events took place for Digital Vibe Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
a. Purchased $48,300 of materials
b. Used $37,200 of direct materials production.
c. Incurred $55,500 of direct labor wages.
d. Incurred $78,200 of factory overhead. process to finished goods.
e. Transferred $129,900 of work
f. Sold goods for $232,300.
g. Sold goods with a cost of $103,400.
h. Incurred $59,400 of selling expenses .
Incurred $26,100 of administrative expense.
Using the information given, complete the following:
a. Prepare the January income statement for Digital Vibe Manufacturing Company. Digital Vibe Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses: Total operating expenses
b. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations. Digital Vibe Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31: Materials Work in process Finished goods
Answer:
Bandera Manufacturing Company
a) Cost of goods sold:
Finished goods inventory, January 1 31,700
Cost of goods manufacturing 131,860
Finished goods inventory, January 31 28,900
Cost of goods sold $134,660
b) Gross profit
Sales $280,560
Cost of goods sold 134,660
Gross profit $145,900
c) Net Income
Gross profit $145,900
Selling expenses 44,050
Administrative expenses 23,290
Net Income $78,560
Digital Vibe Manufacturing Company
Digital Vibe Manufacturing Company:
Sales Revenue $232,300
Cost of goods sold 103,400
Gross profit 128,900
Selling expenses 59,400
Administrative exp. 26,100
Net Income $43,400
a. Income Statement for the month ended January 31:
Operating expenses:
Selling expenses 59,400
Administrative exp. 26,100
Total operating expenses 85,500
b. Digital Vibe Manufacturing Company
Inventory Balances For the Month Ended January 31
Inventory balances on January 31:
Raw materials 11,100
Work in process 41,000
Finished goods 26,500
Explanation:
a) Data and Calculations:
Digital Vibe Manufacturing Company
Purchases $48,300
less Inventory 11,100
Cost of materials used 37,200
Direct labor 55,500
Factory overhead 78,200
Cost of manuf. 170,900
Transferred to
finished goods 129,900
WIP inventory 41,000
Transferred to
finished goods 129,900
Cost of goods sold 103,400
Inventory of finished 26,500
Selling expenses 59,400
Administrative exp. 26,100
Do you think that MTV's future lies mostly in its international operations?
Answer:
Yes.
I think that "MTV's future lies mostly in its international operations." This is where the market is for cable TV. The domestic market is already saturated. For an organization of its kind, the best it can do is to expand beyond the domestic market, which it has already done. For example, its African channel is booming. It is also a way to project American culture to the world to help create cross-cultural understanding, while also importing some outside culture to the US in a globalized world.
Explanation:
As a giant American multinational cable channel, MTV focuses on original reality programming which targets teenagers and young adults. This defines its vision and mission. This implies that the company has already identified its purpose. There are teenagers and young adults over the world. This is why its outreach should not be restricted to the domestic US market alone.
Yes, I believe MTV's future lies mostly in its international operations. This is because the domestic market is almost saturated.
MTV, which is one of the foremost music television channels, can expand and grow its marketing operations by establishing and drawing international markets.
This is because making their output and contents align with the international markets such as Europe, Africa, Asia, and Latin America would generate more income.
Not only that, most international markets like Africa and Asia are still developing in terms of music and exposure to American content. Thus MTV has more space to develop.
Again, MTV can promote and develop the other continents' arts and culture in the American markets.
Hence, in this case, it is concluded that MTV's future lies mostly in its international operations.
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A country has passed a law setting a minimum wage for factory workers 5% below the equilibrium price. How will this law impact the labor market?
A.) The law will likely cause a shortage of labor.
B.) The law will likely increase unemployment.
C.) The law will have no impact on the market.
D) The law will increase prices without affecting quantity.
Answer:
C.) The law will have no impact on the market.
Explanation:
The minimum wage refers that the producers could charge high amount as compared with the wages i.e. minimum also the equilibrium wage would be more than the minimum wage so this represents that the market is an equilibrium point and hence there is no impact on the market
Therefore the option C is correct
And, hence all the other options are wrong
Which of the following is included in the seven common questions asked to determine if there is 'just cause' for termination:
1. How much money is the employee paid?
2. Is there any evidence of quilt, even if the evidence is very small and inadmissible in Court?
3. Was the employee for-warned about the consequences of his/her actions?
4. How long was the employee employed with the employer?
5. Was the employee originally hired as an 'at will' employee?
Answer:
3. Was the employee for-warned about the consequences of his/her actions?
2. Is there any evidence of quilt, even if the evidence is very small and inadmissible in Court?
Explanation:
The above questions are used to determine if there is a 'just cause' for the termination of the contract of an employee by his or her employer.
Responsibility for the financial statements and other information found in the annual report lies with
Answer:
Management
Explanation:
The Management of the company are appointed as stewards by the owners of the company (shareholders). They have a role in reporting the entity`s operations and ensuring that they provide a good return for the shareholders investments.
Which one of the following is not part of the task of checking a diversified company's business?
A. Determining which business units have value chain match-ups that offer opportunities to transfer competitively valuable resources/capabilities from one business to another and which business lack such opportunities (and therefore have inadequate resource fit).
B. Determining whether one or more businesses soak up a disproportionate share of the corporate parent's financial resources, make subpar or inconsistent bottom-line contributions, are too small to make a material earnings contribution, or are unduly risky (such that the financial well-being of the whole company could be jeopardized in the event such businesses fall upon hard times).
C. Determining whether the corporate parent's resources and parenting capabilities are poorly matched to the needs/requirements of one or more of the businesses it has diversified into.
D. Determining whether the company has adequate financial strength to fund its different businesses, pursue growth via new acquisitions, and maintain a healthy credit rating.
E. Determining whether the company's resources and capabilities are being stretched too thinly by the resource/capability requirements of one or more of its businesses.
Answer:
All the above options are correct.
Explanation:
Value chain match-ups give rise to competitive advantage if it allows sister companies to leverage economies of scale by sharing production resources to the end that costs are significantly reduced, skills and technology are transferred and information grows within the system.
If any sub-business within a diversified group is taking more resources than it is contributing, it should be evaluated for possible course correction, "tune-ups" and or turn around interventions.
When there is a poor match between the parent company and the newly acquired company, there is often the need to re-evaluate the decision. If it is possible to effect a turnaround, at the least cost possible, the parent company would most likely do that otherwise, it "disconnects the umbilical cord".
Finance is a critical factor with maintaining a diverse array of businesses. Ideally, each business should be responsible for it's financial health. However the collective financial health of each sub-business is also reflective of the ability to monitor the progress of each subsidiary an make good business calls.
Cheers!
Explain the accounting function within a firm. What does this function do, and why is it important?
Answer and Explanation:
Accounting can defined as the process of keeping financial records of transactions of an organization, summarizing, analysing and reporting these financial transactions to interest entities who use these reports inaking financial decisions pertaining to the organization. In other words, the accounting function encompasses keeping accurate financial records with the aim of communicating and utilizing this financial information in making good financial decisions.
The accounting function is important because through accounting:
We are able to keep records of financial transactions on a day to day basis
We are able to know the financial position of our business and tell where something may be going wrong financially such as any fraudulent activities
We are able to make more informed decisions given the financial information at our disposal
According to J.C. Penney's "Statement of Business Ethics" all of the following are acceptable except:
Explain how aggregate demand changes when the government increases taxes by $100 billion. Aggregate demand ______.
Answer: D. decreases by less than $100 billion because the tax multiplier is negative
Explanation:
If the Government were to increase taxes then it would reduce the amount of money for spending (disposable income) that people have to be able to buy goods and services.
As a result they will buy less goods and services but this would be less than the $100 billion tax imposed on them because the effect of the tax multiplier is negative.
Tax Multiplier = -Marginal Propensity to Consume / (1 - MPC)
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as
Answer: template method
Explanation:
The bottom-up approach for estimating times and costs that uses costs from past projects that were similar to the current project is known as template method.
It should be noted that estimating time and cost are vital because it helps schedule work, develop needs of cash flow and show progress of a project.
"Al quit his job as a manager at North End Savings bank where he earned $105,000 a year. He cashed in $300,000 in corporate bonds that earned 2% interest annually to set up a gym. Al has decided to buy a store front and set up exercise classes. There are 900 people who will pay $1200 a year for unlimited classes; $850 from each person goes for"
Answer:
the question is incomplete, so I looked for more information:
"...for instructors, rent, maintenance, equipment, insurance, depreciation etc.
Write your answers to the following questions on the answer sheet.
A. What are Al’s total revenues?
B. What are Al’s explicit costs?
C. What is his accounting profit?
D. List 2 in numbers 2 implicit costs that Al has not included.
E. What is Al ’s pure economic profit (or loss) in numbers?"
a) Al's total revenues = 900 x $1,200 = $1,080,000
b) Al's explicit costs = 900 x $850 = $765,000
c) accounting profit = $1,080,000 - $765,000 = $315,000
d) implicit costs = $105,000 (in lost wages) + $6,000 (in lost interests) = $111,000
e) pure economic profit = $315,000 - $111,000 = $204,000
ABC Production ABC Production, a consumer products firm with a functional structure, is expanding from a single product line into several diverse product groups, with most sales within one country. What form of departmentalization should it eventually adopt to manage the new conditions most effectively
Answer:
Divisional product structure
Explanation:
Divisional product structure is also referred to as a product based structure. Employee are shared into divisions based on products they manufacture and sell within a particular geographic location.
The advantage of this structure is that employees work efficiently on the production and sale of one particular product.
This is ideal for ABC production that are expanding from a single product line into several diverse product groups, with most sales within one country.
A company's balance sheet shows: cash $39,000, accounts receivable $45,000, equipment $80,000, and equity $87,000. What is the amount of liabilities?A. $83,000.B. $251,000.C. $77,000.D. $151,000.E. $164,000.
Answer:
C. $77,000
Explanation:
Calculation for the amount of liabilities
Using this formula
Amount of liabilities=(Cash+Account receivable +Equipment) -Equity
Let plug in the formula
Amount of liabilities=($39,000+$45,000+$80,000)-$87,000
Amount of liabilities=$164,000-$87,000
Amount of liabilities=$77,000
Therefore the Amount of liabilities will be $77,000
A(n) ____ is a document used to solicit proposals from prospective suppliers.
a. RFQ
b. RFP
c. COW
d. SOW
Answer:
Request for proposal (RFP)
Explanation:
Request for proposal is a document released by a business that seeks proposals from suppliers. Usually suppliers are selected through a bid process.
Suppliers are required to procure a commodity, service, or an asset.
RFP is submitted early in the project cycle as it is important on getting a lot of materials for the project.
RFP is usually used when there is need for specialised skill or when the commodity is difficult to obtain
Answer:
b. RFP
Explanation:
Request for proposal (RFP) as the name suggest, is a document usually posted by organizations like government agencies or enterprises to get proposal requests from would be vendors. The request for proposal contains details about a project; solutions a customer wants and also spell out criteria upon which a supplier's bid/proposal would be assessed.
The document is used to compare responses from vendors objectively hence determines which supplier might be best qualified to handle a project.
alley Spa purchased $10,800 in plumbing components from Tubman Co. Valley Spa signed a 60-day, 10% promissory note for $10,800. If the note is dishonored, but Tubman intends to continue collection efforts, what is the journal entry to record the dishonored note
Answer: Please see explanation column for answer
Explanation:
Interest amount =Principal (note amount) x rate x period
= $10,800 x 10% x 60/360 = $180
journal entry to record the dishonored note
Account Debit Credit
Account receivable - valley spa $10,980
Interest Revenue $180
Notes receivable $10,800
Account receivable= $10,800 +$180 =$10,980
Here, the company intends to continue with collection efforts, so the amount would be classified as the dishonored note as part of accounts receivable by Debiting the accounts receivable which would be the total of the principle and interest owed also crediting the notes receivable account for the principle amount and the interest revenue account for the interest amount.
The fact that one should not add or subtract money unless it occurs at the same point in time is an illustration of what concept
Answer:
B. Time value of money
Explanation:
A) Economy of scale
B) Time value of money
C) Pareto principle
D) Marginal return
Time value of money is a concept which illustrate that one should not add or subtract money unless it occurs at the same point in time.
Time value of money is also known as present discounted value. The time value of money illustrate that people will prefer to receive an amount of money today rather than receive the same amount of money at a later time (future).
This is because money tends to increase in value over a period of time though interest rate. For example, if a person receives $100 today and deposit the money in a savings account at 5% interest rate quarterly. The $100 of today will be worth more than than a $100 of next year because of the compounded interest rate.
There are zero coupon bonds outstanding that have a YTM of 6.09 percent and mature in 17 years. The bonds have a par value of $10,000. If we assume semiannual compounding, what is the price of the bonds?
Answer:
$3,606.49
Explanation:
the price of a zero coupon bond = maturity value / (1 + i)ⁿ
maturity value = $10,000i = 6.09% / 2 = 3.045% semiannual interest raten = 17 years x 2 semiannual compounding = 34 periodsthe price of a zero coupon bond = $10,000 / (1 + 3.045%)³⁴ = $10,000 / 1.03045³⁴ = $10,000 / 2.772779928 = $3,606.49
the formula we used to determine the market price of a zero coupon bond is basically the present value
If the expected ROE on reinvested earnings is equal to k, the multistage DDM reduces to:_______A. VO= (Market return in year 1)/k. B. VO= (Treasury bond yield in year 1)/k. C. VO= (expected dividend yield in year 1)/k. D. VO= (expected EPS in year 1)/k.
Answer:
VO = ( expected EPS in year 1 )/k ( D )
Explanation:
The multistage DDM reduces to, VO = ( expected EPS in year 1 )/k, The expected ROE on reinvested earnings been equal to K shows that the ROE is constant. since it is constant the value on returned earnings would be zero.
this simply means that EPS = DPS
Which one of the following statements on the remuneration of the factors of production is true?
[1] The remuneration for capital is profit, as the business aims to earn a profit on its financial investments.
[2] The remuneration for labour is rent, as workers are able to pay their rent with the money they earn.
[3] The remuneration for entrepreneurship is a salary, as entrepreneurs are also rewarded for their efforts.
[4] The remuneration for natural resources is rent, as natural resources consist of all gifts of nature.
Answer: The remuneration for natural resources is rent, as natural resources consist of all gifts of nature
Explanation:
Factors of production consists of the resources that are used to production to take place. They include land, labor, capital and the enterprise.
The remuneration for natural resources is rent, as natural resources consist of all gifts of nature.
The remuneration for labor is wages and salaries. The remuneration for capital is interest while the remuneration for entrepreneur is profit.
A ______ policy focuses on the unintentional or purposeful release of information from a corporation without authorization.
Answer:
Data Loss Prevention (DLP)
Explanation:
Data Loss Prevention or DLP is the set of processes that aims to protect an organisation's information and prevents end users from transferring key information outside the network.
DLP also allows a system administrator monitor information that shared by employees.
When an employee transfers unauthorised information from the network DLP detects it and relevant action can be taken against the employee.
Causes of data loss are carelessness, misuse, and theft.
Suppose that people’s expectations in 2013 are rational. If the Federal Reserve engages in a fourth round of quantitative easing, then the inflation rate will [Increase, Decrease, or remain the same] and the unemployment rate will [increase, decrease, or remain the same] in the short run.
These changes occur as a result of the aggregate demand curve [increasing, decreasing, or remaining the same] and the aggregate supply curve [increasing, decreasing, or remaining the same]
Answer:
If the Federal Reserve engages in a fourth round of quantitative easing, then the inflation rate will [Increase, Decrease, or remain the same] and the unemployment rate will [increase, decrease, or remain the same] in the short run.
These changes occur as a result of the aggregate demand curve [increasing, decreasing, or remaining the same] and the aggregate supply curve [increasing, decreasing, or remaining the same].
Explanation:
The Federal Reserve's fourth round of Quantitative Easing (QE) is the central bank monetary policy which enables it to buy government bonds and other assets from the open market in order to inject more money or increase the money supply in the economy, thereby expanding economic activity by encouraging lending and investments. QE can cause inflation if demand grew faster than supply as it takes longer for the velocity of money – the speed at which capital zooms through the economy and turns over – that is, to permeate the economy.
Jobs grouped according to traditional business tasks such as marketing, manufacturing, and personnel are departmentalized by
Answer:
business function.
Explanation:
A business function is a term that describes a form of business activities or jobs division or grouping, which is solely and distinctly based or departmentalized according to traditional business tasks such as marketing, manufacturing, and human resources.
Therefore, going by the definition above, the correct answer to the question above is simply BUSINESS FUNCTION
If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:
The question is incomplete. The complete question is stated below.
If the marginal propensity to consume is equal to 0.85, then a $500 increase in disposable income leads to a:
a. $400 increase in consumption spending
b. $75 increase in consumption spending
c. $425 increase in personal saving
d. $75 increase in personal saving
Answer:
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving. Thus, option D is the correct answer.
Explanation:
The marginal propensity to consume or MPC is the percentage of the additional income that will be used for consumption spending. It is a concept that is used to calculate how much of an increase in income will be used in consumption and saving. The formula to calculate MPC is,
MPC = Change in consumer spending / Change in income
0.85 = Change in consumer spending / 500
500 * 0.85 = Change in consumer spending
Change in consumer spending = $425
If a $500 increase causes an increase of $425 in consumer spending, the rest of $75 is the increase in personal saving.
Use the information below to answer the following questions about the Canary Cruises Corporation. The Canary Cruises Corporation Income Statement Accounts for the year ending December 31, 2017 Account Balance Cost of goods sold $345,000 Interest expense $79,000 Taxes $57,100 Revenue $836,000 Selling, general, and administrative expenses $93,000 Depreciation $126,000 Refer to the Canary Cruises Corporation Income Statement Accounts. What is the net income for the Canary Cruises Corporation for 2017
Answer:
$135,900
Explanation:
The net income is computed as follows;
Revenue - Costs of goods sold - Selling and general expenses - depreciation - interest expense - taxes
Net income = $836,000 - $345,000 - $93,000 - $126,000 - $79,000 - $57,100
= $135,900
Answer:
Net income = $135,900
Explanation:
Canary Cruises Corporation
Income Statement
For the year ended December 31, 2017
Revenue $836,000
Cost of goods sold ($345,000)
Gross profit = $491,000
S&A expenses ($93,000)
Depreciation ($126,000)
EBIT = $272,000
Interest expense ($79,000)
Net income before taxes = $193,000
Taxes ($57,100)
Net income = $135,900
One common feature of agile projects is the "walk-around meeting".
A. True
B. False
Answer:
A
Explanation:
Agile means able to move around quickly
The "walk-around meeting" is a regular characteristic in agile projects, and this is accurate.
What is a characteristic?The distinctive qualities or traits of anything are its characteristics. Consider traits as the attributes that set one object or a person apart from another. One trait of the chameleon, for instance, is its capacity for camouflage.
Agile lets teams offer value to their clients more quickly and with fewer difficulties through an iterative approach to project management and software development. An agile team produces work in manageable, small-scale increments rather than staking all on a "big bang" launch.
Therefore, The "walk-around meeting" is a regular characteristic in agile projects, and this is accurate.
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Nonprobability sampling is an objective procedure in which the probability of selection for the population units can be determined.
A. True
B. False
Answer:
False
Explanation:
Nonprobability sampling is a type of sampling where there is zero chance of selection in the population unit. In this type of sampling, the probability of selection cannot be accurately determined.
In nonprobability sampling, the use of quota or convenience can be used as non-random criteria for unit selection.
Probability sampling involves random selection while nonprobability sampling does not involve random selection.
Under Regulation Crowdfunding:
I The maximum investment amount is $100,000.
II The maximum investment amount is $500,000.
III The maximum offering amount is $1,000,000.
IV The maximum offering amount is $5,000,000.
A. I and III.
B. I and IV.
C. II and III.
D. II and IV.
Answer: A. . I and III.
Explanation:
In Regulation Crowdfunding, eligible companies are allowed to offer and sell their securities by using crowdfunding. This is done by placing all the transactions online.
Under Regulation Crowdfunding:
I The maximum investment amount is $100,000.
III The maximum offering amount is $1,000,000.
Which of the following production functions exhibit constant returns to scale?I. Q=6−q^4II. Q=2K+LIII. Q=K^0.8 L^0.2
Answer:
Option 3
Explanation:
This is because the sum of the powers of both labour (L) and capital (K) equals 1
0.8 + 0.2 = 1
On January 1 of the current year, Jimmy's Sandwich Company, Inc. reported stockholders' equity totaling $122,500. During the current year, total revenues were $96,000 while total expenses were $85,500. Also, during the current year the business paid $20,000 to the stockholders. No other changes in equity occurred during the year. If, on December 31 of the current year, total assets are $196,000, the change in stockholders' equity during the year was:_________
a) A decrease of $9,500.
b) An increase of $9,500.
c) An increase of $30,500.
d) A decrease of $30,500.
e) An increase of 73,500.
A.nswer:
a) A decrease of $9,500.
Explanation:
Calculation for the change in total stockholders' equity
Using this formula
Change in total stockholders' equity = Total Revenues amount - Total Expenses amount - Dividends amount
Let plug in the formula
Change in total stockholders' equity =$96,000 - $85,500 - $20,000
Change in total stockholders' equity = Decrease of $9,500
Therefore the change in total stockholders' equity during the year was: a decrease of $9,500