A price-taker firm is able to sell additional units of output without having to lower its price, while a price-searcher firm must lower its price in order to sell additional units.
This is because price-taker firms are unable to influence the market price, and must accept the price set by other market participants, while price-searcher firms are able to set the market price and therefore can lower the price to increase their sales.
In other words, price-taker firms must accept the price that the market sets and do not have the ability to change it, while price-searcher firms can set the market price and adjust it as needed in order to maximize their profits. Price-taker firms cannot lower their prices, while price-searcher firms can.
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Lighthouse Paper Company manufactures newsprint. The product is manufactured in two departments, Papermaking and Converting. Pulp is first placed into a vessel at the beginning of papermaking production. The following information concerns production in the Papermaking Department for March:
ACCOUNT Work In Process-Papermaking Department
Balance
Date Item Debit Credit Debit Credit
Mar. 1 Bal., 2,600 units, 35% completed 9,139 31 Direct materials, 105,000 units 330,750 339,889 31 Direct labor 40,560 380,449 31 Factory overhead 54,795 435,244 31 Goods transferred, 103,900 units ? ? 31 Bal., 3,700 units, 80% completed ? Required:
A. On March 31, prepare the following journal entries for the Papermaking Department:*
1. The materials charged to production.
2. The conversion costs charged to production.
3. The completed production transferred to the Converting Department.
B. Determine the Work in Process—Papermaking Department March 31 balance.
Materials Charged to Production:
Debit Work in Process-Papermaking Department: $330,750
Credit Raw Materials Inventory: $330,750
What does "work in progress" mean?"Work in progress" (WIP) refers to the partially completed goods that a company has started producing but has not yet finished. It represents the cost of the direct materials, direct labor, and manufacturing overhead applied to the production process up to a certain point in time. In accounting, WIP is typically accounted for as an inventory asset on the balance sheet until the finished goods are completed and ready for sale.
Conversion costs charged to production:
Work in Process - Papermaking Department $40,560
Wages Payable $40,560
Work in Process - Papermaking Department $54,795
Manufacturing Overhead $54,795
Completed production transferred to Converting Department:
Work in Process - Papermaking Department?
Work in Process - Converting Department?
To calculate the amount to be transferred, we can use the following formula:
Cost of goods transferred = Beginning work in process inventory + Total manufacturing costs - Ending work in process inventory
Cost of goods transferred = $9,139 + $435,244 - (3,700 units x $339,889 / 2,600 units) = $548,940
Therefore, the journal entry for the completed production transferred to Converting Department is:
Work in Process - Papermaking Department $548,940
Work in Process - Converting Department $548,940
B. Work in Process - Papermaking Department March 31 balance:
To calculate the Work in Process - Papermaking Department March 31 balance, we need to take into account the units in process and the costs incurred during the period.
Units in process on March 1: 2,600 units, 35% completed
Units started during March: 105,000 units
Units account for 107,600 units
Units completed and transferred: 103,900 units
Units in process on March 31: 3,700 units, 80% completed
Total manufacturing costs incurred during March:
Direct materials: $330,750
Direct labor: $40,560
Factory overhead: $54,795
Total: $426,105
Using the weighted average method, we can calculate the cost per equivalent unit as follows:
Cost per equivalent unit = Total manufacturing costs / Units to account for
Cost per equivalent unit = $426,105 / 107,600 = $3.96 per unit
The Work in Process - Papermaking Department March 31 balance can be calculated as follows:
Cost of beginning work in process inventory: $9,139
Cost of units started during March: 105,000 units x $3.96 per unit = $416,160
Total cost to account for $425,299
Cost of units completed and transferred: 103,900 units x $3.96 per unit = $411,264
Cost of ending work in process inventory: 3,700 units x 80% x $3.96 per unit = $11,678
Work in Process - Papermaking Department March 31 balance: $425,299 - $411,264 - $11,678 = $2,357
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Gayne Corporation's contribution margin ratio is 16% and its fixed monthly expenses are $45,500. If the company's sales for a month are $302,000, what is the best estimate of the company's net operating income? Assume that the fixed monthly expenses do not change
The best estimate of the company's net operating income is $2,820.
The contribution margin ratio is defined as the contribution margin divided by sales. We can use this formula to find the contribution margin:
Contribution margin ratio = contribution margin / sales
Solving for the contribution margin, we get:
Contribution margin = contribution margin ratio x sales
Contribution margin = 0.16 x $302,000
Contribution margin = $48,320
The net operating income can be calculated by subtracting the fixed expenses from the contribution margin:
Net operating income = contribution margin - fixed expenses
Net operating income = $48,320 - $45,500
Net operating income = $2,820
Therefore, the required answer is $2,820.
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Kolobetso runs a clothing and textile manufacturing firm, which employs 20 seamstresses. The company is going through financial difficulties. Kolobetso wrote a memo to her employees to inform them of her intention to reduce the workforce. The relevant part of the memo reads as follows:
‘I intend to reduce the size of the workforce as the firm is operating at a loss. I will terminate contracts of employment of 15 employees. The basis for termination shall be work performance. Those who have consistently failed to meet targets should look for work elsewhere. The decision is the sole prerogative of management and it is final. The redundancies are immediate.’
Thabologo works as a seamstress for Kolobetso. She is Kolobetso’s longest serving employee. She is one of 15 employees who have just received the redundancy memo. She wishes to challenge the redundancy and has come to you for advice.
Advise Thabologo on her chances of successfully challenging the redundancy
Thabologo may have a chance of successfully challenging the redundancy depending on the facts of her case.
What is case ?A case is a legal dispute between opposing parties that seek a resolution, usually in the form of a court judgment. Cases may involve disputes between individuals, businesses, or governmental entities and can involve any number of claims or issues. Cases typically begin with the filing of a complaint by one or more parties and culminate in a resolution, whether through a settlement, court judgment, or other form of dispute resolution. Cases can involve civil law, criminal law, administrative law, or other areas of the law.
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you borrowed $500,000 for your new house with a 30-year fixed-rate loan at an annual interest rate of 4.2%. the first mortgage payment is due exactly one month after you signed the contract. your monthly mortgage payment is .
The monthly mortgage payment for a borrowed amount of $500,000 for a new house with a 30-year fixed-rate loan at an annual interest rate of 4.2% is $2,448.93.
Loan details -:
Loan amount = $500,000 Tenure = 30 years
Annual interest rate = 4.2%
Monthly interest rate = (4.2/100) / 12 = 0.0035
Formula to calculate the monthly mortgage payment
The formula to calculate the monthly mortgage payment is given below:
P = L[c(1 + c)n]/[(1 + c)n - 1] Where, P = monthly payment L = loan amount c = monthly interest rate n = total number of payments
The value of c and n will be different based on the loan tenure and payment frequency. So, let's substitute the values into the formula for calculating the monthly payment.
P = 500000[(0.0035)(1 + 0.0035)^360]/[(1 + 0.0035)^360 - 1]P = 500000[0.0035(1.0035)^360]/[(1.0035)^360 - 1]P = 500000[0.0035(5.553) / (5.553 - 1)]P = 500000[0.0194] / 4.553P = $2,448.93
Therefore, the monthly mortgage payment is $2,448.93.
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_____ focuses on smoothing transitions along the supply chain so that the firm can satisfy its customers with quality products and services
Supply chain management focuses on smoothing transitions along the supply chain so that the firm can satisfy its customers with quality products and services.
Supply chain management deals with a system of procurement, operations management, logistics and marketing channels so that the raw materials can be converted into a finished product and delivered to the end customer.
Supply chain management is the coordination of all activities involved in the production and delivery of a product or service to customers. The goal of supply chain management is to ensure that the right products are delivered to the right customers at the right time and at the right cost.
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in the corn futures contract, the following delivery months are available: march, may, july, september, and december. state the contract that should be used for hedging when the expiration of the hedge is in a) june, b) july, and c) january.
In the corn futures contract, the available delivery months are March, May, July, September, and December. When the expiration of a hedge is in June, the July contract should be used for hedging. This is because July is the closest delivery month to June.
The futures contract is an agreement between two parties to buy or sell a specific commodity at a predetermined price on a future delivery date. Futures contracts are often used for hedging against price risks, meaning a company or investor can lock in a price for a certain commodity in the future and protect against any unfavorable price changes.
By using a futures contract, an investor can purchase or sell a commodity at a predetermined price. This helps them to offset potential losses and guarantee profits.
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g draw the market for labor in the food service industry below where $25 is the highest wage that any firm would demand labor and $5 is the lowest wage accepted by any worker that supplies their labor to the market. the equilibrium wage is $10/hour and quantity of labor employed is 18.4 million workers.
The graph shows the market for labor in the food service industry.
To draw the market for labor in the food service industry, we need to consider the supply and demand curves for labor. The supply curve for labor represents the willingness of workers to supply their labor at different wage rates, while the demand curve for labor represents the willingness of firms to demand labor at different wage rates. The equilibrium wage and quantity of labor employed are determined by the intersection of the supply and demand curves.
In this case, the highest wage that any firm would demand labor is $25, and the lowest wage accepted by any worker is $5. This means that the demand curve for labor will slope downward from $25 to $5, while the supply curve for labor will slope upward from $5 to $25. The equilibrium wage is $10/hour, and the quantity of labor employed is 18.4 million workers. This means that the supply and demand curves will intersect at the point ($10, 18.4 million).
The graph shows the market for labor in the food service industry.
The vertical axis represents the wage rate, while the horizontal axis represents the quantity of labor employed. The demand curve for labor is labeled D, while the supply curve for labor is labeled S. The equilibrium wage and quantity of labor employed are indicated by the point E, where the supply and demand curves intersect.
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Which of the following financial interests would impair a covered member's independence in such a manner that it could not be reduced to an acceptable level through the use of safeguards: (A) The covered member owned an immaterial direct financial interest in an attest client prior to but not during the period of the professional engagement. (B) The covered member owned an immaterial indirect financial interest in an attest client during the period of the professional engagement. (C) The covered member owned a material indirect financial interest in an attest client during the period of the professional engagement. (D) The covered member owned a material indirect financial interest in an attest client prior to but not during the period of the professional engagement.
The financial interest that would impair a covered member's independence in such a manner that it could not be reduced to an acceptable level through the use of safeguards is owning a material indirect financial interest .The correct option is (C).
Independence is a crucial factor when performing attestation engagements. A covered member is a person or entity responsible for initiating or making decisions for the accountant's or accounting firm's auditing or attestation clients, which can significantly affect the accountant's or accounting firm's professional reputation.
In such cases, safeguards can help reduce the threat to an acceptable level. The safeguards should be sufficient to overcome the risk of independence impairment. When the safeguards are inadequate to overcome the risk of independence impairment, an independence breach occurs.
It is, therefore, vital to analyze the safeguard's effectiveness to ensure the auditor's independence isn't compromised. The correct option is (C).
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What are three things to consider when bringing a new product or service to the market place?
When bringing a new product or service to the market, three things that should be considered are market research, positioning, and pricing strategy.
1. Market research: It is essential to conduct market research and identify the potential target market, and evaluate their needs, preferences, and behavior. Market research will help the organization understand the competition and the demand for the product/service.
2. Positioning: The product/service should be positioned in a way that it is perceived as unique and different from the competition. The organization should create a unique selling proposition (USP) that sets it apart from the competition.
3. Pricing strategy: Pricing should be done in a way that it is affordable to the target market and profitable for the organization. The organization should consider the costs of production, competitors' pricing, and the value provided by the product/service to determine the price.
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Assume that you will be up for a promotion next month and you'd like to impress your boss with your data analytic skills. The company you work for normally books the current month's bad debt for the same amount as the prior month's actual accounts receivable write-offs. Using your general accounting knowledge, explain why this process is not the best method. Next, assuming that you will use a regression analysis, explain the process and describe the data/information you would request or include to perform the analysis.
It can be done by using regression analysis to forecast bad debt, I would be able to provide more accurate and data-driven insights to my boss, which could help improve the company's financial performance and decision-making.
What is the best method?Booking the current month's bad debt for the same amount as the prior month's actual accounts receivable write-offs is not the best method because it assumes that bad debt will remain constant from month to month, which is not a realistic assumption.
Bad debt is affected by various factors such as economic conditions, customer creditworthiness, and changes in the company's credit policies, among others. Therefore, using the same amount as the prior month's write-offs could lead to underestimating or overestimating the actual bad debt for the current month.
To perform a regression analysis to forecast bad debt, I would first gather historical data on accounts receivable write-offs and various factors that could impact bad debt, such as economic indicators, customer credit scores, payment history, and other relevant financial metrics. I would also consider any qualitative factors such as changes in the company's credit policies, customer service issues, or other non-financial factors that could impact bad debt.
Next, I would analyze the data using regression analysis, which is a statistical method that identifies the relationship between two or more variables. In this case, I would use multiple regression analysis to identify the factors that are most strongly correlated with bad debt and to estimate the magnitude of their impact.
The process of multiple regression analysis involves the following steps:
Identify the dependent variable - in this case, the bad debt amount
Identify the independent variables - in this case, the economic indicators, customer credit scores, payment history, and other financial metrics, as well as any relevant qualitative factors.
Collect and organize the data - this may involve gathering data from various sources and organizing it in a spreadsheet or database.
Clean and prepare the data - this may involve removing any outliers or missing data, standardizing variables, and transforming variables as necessary.
Run the regression analysis - this involves using statistical software to analyze the relationship between the dependent and independent variables, and to estimate the coefficients of the independent variables.
Interpret the results - this involves interpreting the coefficients to understand the direction and magnitude of the relationship between each independent variable and bad debt, and to identify which variables are most strongly correlated with bad debt.
Validate the model - this involves testing the model on new data to ensure that it is accurate and reliable.
Overall, by using regression analysis to forecast bad debt, I would be able to provide more accurate and data-driven insights to my boss, which could help improve the company's financial performance and decision-making.
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A bond has duration of 6.51 and sells for $1051.36. The average monthly change in its yield is 0 basis points and the standard deviation of such changes is 26.6 basis points. The value at risk (VAR) at the 95% confidence level is estimated to be $27.82. The appropriate critical value is 1.65. What is the bond's yield, to the nearest 0.01%? E.g., if your answer is 8.575%, record it as 8.58.
Yield is equal to 5.7% minus 0.000267, or 5.70% to the closest 0.01%.
What is the bond's yield, to the nearest 0.01%?We may use the modified duration method to determine the bond's yield because it connects the percent change in bond price to the change in yield:
%ΔP = -D × Δy
where%P is the change in the bond's price in percentage, D is its duration, and y is the change in its yield. When this formula is changed, we obtain:
Δy = -%ΔP / D
Using the critical value and VAR, we can estimate%P:
Critical value: %P = VAR D
Inputting the values provided yields:
%P is calculated as follows: 27.82 / 1051.36 6.51 1.65 = 0.0267 or 2.67 basis points
We divide this by 100 to convert it to a percentage:
%ΔP = 0.0267 / 100 = 0.000267
The bond's yield can then be calculated by adding the following modification to its present yield:
yield equals current yield plus y.
yield equals current yield minus 0.000267.
We are unable to give an exact response because we are not given the current yield. However, we may calculate the yield using the stated selling price. The bond's current yield, assuming a par value of $1,000, is approximately:
annual coupon payment / selling price equals yield.
yield is equal to 60/1051.36, or 0.057, or 5.7%
yield is equal to 5.7% minus 0.000267, or 5.70% to the closest 0.01%.
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nelter corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 114 units in beginning inventory 375 units produced 6,480 units sold 6,450 units in ending inventory 405 variable costs per unit: direct materials $ 40 direct labor $ 25 variable manufacturing overhead $ 3 variable selling and administrative expense $ 18 fixed costs: fixed manufacturing overhead $ 103,680 fixed selling and administrative expense $ 58,050 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. required: a. prepare a contribution format income statement for the month using variable costing. b. prepare an income statement for the month using absorption costing.
Revenue: 6,450 units x $114 = $729,100
Variable Costs: 6,450 units x ($40 direct materials + $25 direct labor + $3 variable manufacturing overhead + $18 variable selling and administrative expense) = $542,850
Contribution Margin: $729,100 - $542,850 = $186,250
Fixed Costs: $103,680 fixed manufacturing overhead + $58,050 fixed selling and administrative expense = $161,730
Net Income: $186,250 - $161,730 = $24,520
Revenue: 6,450 units x $114 = $729,100
Cost of Goods Sold: 375 units in beginning inventory x ($40 direct materials + $25 direct labor + $3 variable manufacturing overhead + $18 variable selling and administrative expense) = $22,875
+ 6,480 units produced x ($40 direct materials + $25 direct labor + $3 variable manufacturing overhead + $18 variable selling and administrative expense) = $563,450
+ $103,680 fixed manufacturing overhead = $667,325
Gross Profit: $729,100 - $667,325 = $61,775
Selling and Administrative Expense: $58,050 fixed selling and administrative expense
Net Income: $61,775 - $58,050 = $3,725
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Each year after a regular spring cleaning, maria spruces up her home a little by retexturing and repainting the walls of one room in her house. In a given year, she spends $22 on magazines to get ideas about wall textures and paint shades, $42 on newly produced texturing materials and tools, $31 on new paintbrushes and other painting equipment, and $177 on newly produced paint. normally, she preps the walls, a service that a professional wall-texturing specialist would charge $202 to do, and applies two coats of paint, a service that a painter would charge $333 to do, on her own
A. Her annual spring texturing and painting activity contributes $280 to GDP.
B. Her spring painting activity adds $200 + $210 = $410 to GDP
C. Her spring painting activity adds $550 to GDP.
How did we get the values?a) In a given year, Maria spends $25 + $45 + $35 + $175 = $280 on newly produced materials and tools required for her spring texturing and painting activity. Additionally, she spends $0 on services since she does all the work on her own. Therefore, her annual spring texturing and painting activity contributes $280 to GDP.
b) In this scenario, Maria hires someone else to do the texturing work for her, which is a service that contributes to GDP. The cost of the service is $200, which is what a professional wall-texturing specialist would charge. Additionally, Maria spends $35 + $175 = $210 on materials and tools, and she also does the painting herself. Since she is not paying anyone for the painting service, it does not contribute to GDP. Therefore, her spring painting activity adds $200 + $210 = $410 to GDP.
c) In this scenario, Maria hires someone else to do all the work using the materials she has already purchased. The cost of the service is $200 + $350 = $550, which includes the cost of both texturing and painting services. Since Maria is not doing any work herself, she does not contribute to GDP in this scenario. Therefore, her spring painting activity adds $550 to GDP.
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The complete question goes thus:
Each year after a regular spring cleaning, Maria spruces up her home a little by retexturing and repainting the walls of one room in her house. In a given year, she spends $25 on magazines to get ideas about wall textures and paint shades, $45 on newly produced texturing materials and tools, $35 on new paintbrushes and other painting equipment, and $175 on newly produced paint. Normally, she preps the walls, a service that a professional wall-texturing specialist would charge $200 to do, and applies two coats of paint, a service that a painter would charge $350 to do, on her own.
a. When she purchases her usual set of materials and does all the work on her home by herself in a given spring, how much does Maria’s annual spring texturing and painting activity con- tribute to GDP?
b. Suppose that Maria hurt her back this year and is recovering from surgery. Her surgeon has instructed her not to do any texturing work, but he has given her the go-ahead to paint a room as long as she is cautious. Thus, she buys all the equipment required to both texture and paint a room. She hires someone else to do the textur- ing work but does the painting herself. How much would her spring painting activity add to GDP?
c. As a follow-up to part (b), suppose that as soon as Maria bends down to dip her brush into the paint, she realizes that painting will be too hard on her back after all. She decides to hire someone else to do all the work using the materials she has already purchased. In this case, how much will her spring painting activity contribute to GDP?
Title: Factors of influencing financial literacy of University
students in Malaysia
Need write about 100-200 words of Conclusion of study
(Find some information and use your own words to
write)
In conclusion, financial literacy is very important for university students in Malaysia. The study found out that financial knowledge and experience, demographics, and financial education programs are significant factors influencing financial literacy among university students.
About financial literacyThe study recommends that the Malaysian government should introduce financial education in schools to develop financial literacy among students. Also, the study recommends that universities in Malaysia should provide courses on financial literacy to students to help them develop financial management skills.
Additionally, the study suggests that financial institutions should work with universities to promote financial literacy among university students in Malaysia. Finally, the study encourages further research to investigate the effectiveness of financial education programs on financial literacy among university students. financial literacy.
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what is the yield to maturity of a(n) eight-year, $5,000 bond with a 4.4% coupon rate and semiannual coupons if this bond is currently trading for a price of $4,723.70? group of answer choices 5.255% 2.628% 6.319% 2.632% 5.264%
The yield to maturity of a 8-year, $5,000 bond with a 4.4% coupon rate and semiannual coupons, if the bond is currently trading for a price of $4,723.70, is 5.264%.
Yield to maturity (YTM) is the rate of return earned on a bond if held to maturity, including all periodic payments and taking into account the purchase price, coupon payments and the face value of the bond. It is the internal rate of return of a bond, or the discount rate at which the present value of all the bond’s future cash flows, or payments, is equal to its current market price.
The calculation of YTM requires solving for the rate at which the present value of the bond’s cash flows (the coupon payments plus the face value of the bond) equal its current market price. This rate is the YTM. The YTM of a bond can be found using either a financial calculator or a mathematical formula.
The formula for calculating YTM is:
YTM = (C/P) + [((FV + C)/2) - P] / T
Where C is the coupon payment, P is the current price, FV is the face value, and T is the time to maturity.
Using the given parameters, the yield to maturity of the bond would be 5.264%:
YTM = (220/4723.7) + [((5000 + 220) /2) - 4723.7] / 8
YTM = 0.04644 + 0.00050 = 0.04694 = 5.264%
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P22-38A Preparing an operating budget-sales, production, direct materials, direct labor, overhead, COGS, and S&A expense budgets The Langley Batting Company manufactures wood baseball bats. Langley's two primary products are a youth bat, designed for children and young teens, and an adult bat, designed for high school and college-aged players. Langley sells the bats to sporting goods stores, and all sales are on account. The youth bat sells for $40; the adult bat sells for $65. Langley's highest sales volume is in the first three months of the year as retailers prepare for the spring baseball season. Langley's balance sheet for December 31, 2018, follows: LANGLEY BATTING COMPANY Balance Sheet December 31, 201 Assets Current Assets: Cash Accounts Receivable Raw Materials Inventory Finished Goods Inventory Total Current Assets 30,000 16,700 6,000 21,300 $ 74,000 Property, Plant, and Equipment Equipment Less: Accumulated Depreciation 130,000 (50,000) 80,000 S 154,000 Total Assets Liabilities Current Liabilities: $15,200 Accounts Pavable Stockholders' Equity Common Stock, no par Retained Earnings 90,000 48,800 Total Stockholders' Equity Total Liabilities and Stockholders' Equity 138,800 S154,000 Other data for Langley Batting Company for the first quarter of 2019: a. Budgeted sales are 1,200 youth bats and 2,600 adult bats b. Finished Goods Inventory on December 31, 2018, consists of 300 youth bats at $14 each and 950 adult bats at $18 each. c. Desired ending Finished Goods Inventory is 350 youth bats and 300 adult bats; FIFO inventory costing method is used. d. Direct materials requirements are 48 ounces of wood per youth bat and 56 ounces of wood per adult bat. The cost of wood is $0.25 per ounce e. Raw Materials Inventory of December 31, 2018, consists of 24,000 ounces of wood at $0.25 per ounce. f. Desired ending Raw Materials Inventory is 24,000 ounces (indirect materials are insignificant and not considered for budgeting purposes) g. Each bat requires 0.7 hours of direct labor; direct labor costs average $18 per hour h. Variable manufacturing overhead is $0.30 per bat i. Fixed manufacturing overhead includes $1,300 per quarter in depreciation and $20,140 per quarter for other costs, such as insurance and property taxes. j. Fixed selling and administrative expenses include $9,000 per quarter for salaries; $2,500 per quarter for rent; $1,000 per quarter for insurance; and $200 per quarter for depreciation k. Variable selling and administrative expenses include supplies at 2% of sales. Kequirements 1. Prepare Langley's sales budget for the first quarter of 2019. 2. Prepare Langley's production budget for the first quarter of 2019. 3. Prepare Langley's direct materials budget, direct labor budget, and manufacturing overhead budget for the first quarter of 2019. Round the predetermined overhead allocation rate to two decimal places The overhead allocation base is direct labor hours. POHR $10 4. Prepare Langley's cost of goods sold budget for the first quarter of 2019 Adult bats COGS $72,540 5. Prepare Langley's selling and administrative expense budget for the first quarter of 2019. Solution: Requirement 1 LANGLEY BATTING COMPANY ales Budget For the Quarter Ended March 31, 2019 Youth BatsAdult BatsTotal Requirement 2 LANGLEY BATTING COMPANY Production Budget For the Quarter Ended Harch 31, 2019 uth BatsAdult Bats al Requirement 3 LANGLEY BATTING COMPANY Direct Materials Budget For the Quarter Ended Harch 31, 2019 Youth Bats Adult Bats LANGLEY BATTING COMPANY Direct Labor Budget For the Quarter Ended March 31, 2019 Youth Bats Adult Bats Total Pagejz LANGLEY BATTING COMPANY Manufacturing Overhead Budget For the Quarter Ended Harch 31, 2019 Total Requirement 4 Calculations for Cost of Goods Sold Budget: Bats in beginning inventoryxCost per bat Cost of bats in beginning Youth Bats: Adult Bats: Bats sold in 1st quarter ofBats in beginning Bats produced and sold 1st quarter o Youth Bats: Adult Bats Manufacturing cost per ba Youth Bat: Adult Bats Bats produced and sold IN 1st quarter Cost of bats produced and sold in 1st quarter of 2 xManufacturing at Youth Bats: Adult Bats: LANGLEY BATTING COMPANY Cost of Goods Sold Budget For the Quarter Ended Harch 31, 2019 outh Bats Adult Bats Requirement 5 LANGLEY BATTING COMPANY Selling and Administrative Expense Budget For the Quarter Ended Harch 31, 2019
Budget for Sales LANGLEY BATTING BUSINESS Budget for Sales for the Quarter Ending March 31, 2019 Junior Bats Adult Bats Unit sales total: 1,200, 2,600, 3,800 Price for sale: $40 $65 $48,000, $169,000, $217,000 in total sales.
Which of the following is a direct labour example?Every employee directly involved in a product's manufacturing is referred to as direct labour. Assemblers, welders, painters, and machine operators are examples of direct labourers.
What is the cost of the direct labour?What the cost of direct labour is. Direct labour costs are the salaries paid to employees who are directly involved in manufacturing goods or providing consumer services. The total cost of direct labour exceeds wages paid by a wide margin.
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when cash from operating activities is presented using the indirect method, net income must be adjusted for increases and decreases in balance sheet accounts that relate to multiple choice question.
When cash from operating activities is presented using the indirect method, net income must be adjusted for increases and decreases in balance sheet accounts that relate to operating activities. This includes changes in accounts receivable, accounts payable, inventory, and other current assets and liabilities. These adjustments are made to accurately reflect the cash flows from operating activities during the period.
For example, an increase in accounts receivable would be subtracted from net income, as it indicates that the company has not yet received the cash from sales made during the period. Conversely, an increase in accounts payable would be added to net income, as it indicates that the company has not yet paid for expenses incurred during the period.
The indirect method is one of two methods used to present cash flows from operating activities on the statement of cash flows, the other being the direct method. The indirect method is more commonly used, as it is easier to prepare and provides a reconciliation of net income to cash flows from operating activities.
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For applying the equity method, we assess whether the
investor company enjoys significant influence over the investee
company or not . Access the FASB Codification and describe what the
guidance of FASB?
According to the search results, FASB provides guidance on how to determine whether an investor company has significant influence over an investee company in order to apply the equity method. Accounting Standards Codification (ASC) 323-10-15 provides guidance on this matter.
ASC 323-10-15 explains that an investor company should use judgment to determine whether it has the ability to exercise significant influence over the investee company. The guidance includes factors that should be considered in making this determination, such as the investor company's representation on the investee company's board of directors, the investor company's participation in the investee company's policy-making process and the extent of intercompany transactions.
Once significant influence is determined to exist, the investor company should use the equity method to account for its investment in the investee company. The equity method requires the investor company to recognize its share of the investee company's net income or losses in the investor company's income statement, and to adjust the carrying amount of the investment for the investor company's share of the investee company's changes in equity.
It is important to note that the guidance provided in ASC 323-10-15 is not exhaustive, and that judgment needs to be exercised in each specific case to determine if the investor company has significant influence over the investee company.
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differentiation allows a company to: group of answer choices respond to demands of deep price demands from powerful buyers and still make money. charge a premium price for its good or service, should it choose to do so. initiate a price war to grow volume and drive its weaker rivals out of the industry. lower its cost structure. charge low prices and still make profits.
Differentiation allows a company to charge a premium price for its good or service, should it choose to do so.
The term differentiation refers to the strategy used by organizations to develop or promote unique characteristics that distinguish them from their rivals in the same industry. It enables a company to charge a premium price for its good or service, should it choose to do so. The distinct attributes of the item or service can range from novel characteristics to attractive designs, modern packaging, or a high level of customer service.
Furthermore, differentiating the product allows the firm to earn more profits and make more sales by allowing it to reach a broader range of consumers. However, companies must strike a balance between differentiation and cost, as an overemphasis on differentiation could raise the cost of production or service, causing the price to be too high for many consumers. Hence, a good strategy to ensure success in differentiation is to focus on key features that are beneficial to consumers and allow the business to stand out from its competitors.
Differentiation allows a company to charge a premium price for its good or service, should it choose to do so.
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BUSI2021 - Business Simulation Capstone Mid-Term Assignment3−20%This is an individual assignment, not a group assignment. Please make sure to complete the assignment on your own. Due to the statutory holiday in Canada on February 20, 2023, the assignment will now be due at 9 pm on February 27 , 2023. Please make sure to upload your assignment before the cut-off time as late submissions will not be accepted and will receive a grade of zero. This assignment is intended to test your understanding of the CAPSIM business simulation that you have participated in so far. To complete this assignment, please follow these guidelines: 1. Summarize your CAPSIM company's performance for rounds one to three by using the comprehensive reports provided at the end of each round. In your summary, identify your team's name and include five performance indicators. (Weight:15%). 2. Describe three decisions you would change to make your CAPSIM company more profitable in subsequent rounds. Be clear and specific in your explanations. (Weight:
15%) . 3. Identify three ways that competition in the industry might have impacted your CAPSIM company's performance. Again, be specific and provide clear explanations. (Weight: 15\%). 4. Explain how your CAPSIM company's performance would change if customers were more loyal to your products. Provide three specific examples. (Weight:15%). 5. Identify your worst-performing product, and explain the impact on your CAPSIM company's performance if you a) increased the product's price by 15%, b) stopped selling the product, or c) reduced the price of the product by 10% . (Weight:15%). The assignment format, including cover letter, executive summary, and table of contents, is worth
10% of your grade. (Weight:10%) Content that is clear, concise, and to the point is worth 15% (Weight:15%). Please submit your assignment in Microsoft Word format. (Note: PDF files or other formats will not be accepted.) Remember that your grade will be based on clarity, relevance, practicality, and integration of the concepts learned. Please answer all questions in your own words and be sure to fully comply with the academic integrity policy. Plagiarism is strictly prohibited and will result in a grade of zero. This assignment is an opportunity for you to demonstrate your learning and creativity. We encourage you to showcase your best work and strive for excellence in your answers.
Review the extensive reports and select the product with the lowest sales or profits to identify your worst-performing item. Then, think about how each of the three options—raising the price, stopping sales, or lowering the price—would affect how well your business does.
What is meant by Extensive Reports?Comprehensive documents that provide in-depth information on a specific project, issue, or topic are called extensive reports. They may cover a variety of topics, including background information, methodology, findings, and conclusions, and typically include a substantial amount of data, analysis, and recommendations. In business, government, and academic settings, extensive reports are frequently used to explain complex information to stakeholders and support decision-making. They can be made in a variety of formats, like written reports, multimedia formats, or presentations, and they can be made for executives, investors, or the general public.
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What is under the modified accrual basis of accounting?
Under the modified accrual basis of accounting, revenues are recognized when they are both measurable and available, while expenditures are recognized when they have been incurred and the amount can be determined with reasonable accuracy.
This method is frequently used by government organizations, and it differs from the accrual basis of accounting in that it focuses on the flow of present financial resources rather than future financial obligations.
The modified accrual basis of accounting is a method of accounting that is commonly utilized in government and nonprofit entities. It has been established to make the accounting process more understandable and to create consistency in financial statement reporting.
The modified accrual basis of accounting necessitates the use of a number of accounts, such as accounts receivable, accounts payable, and accrued expenses, to track the flow of money into and out of the organization. The use of these accounts enables organizations to keep track of where their money is going and where it is coming from, which is critical in maintaining sound financial practices.
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Outline two problems that this business could face as a consequence of launching very few new products
Two problems that a business could face as a consequence of launching a very few new products is that of brand messaging and product positioning in the market.
Your language and positioning should be directed towards your target audience rather than your brand or product, even though you want to promote your items. Explain the benefits that your audience will receive from these features. You won't have any trouble effectively communicating your message if you make it about the audience.
Your new product has been created. The first challenge is convincing customers that they need your products. The majority of companies have trouble connecting with their target market through communication. They fail to choose the proper brand messaging and properly position their new product. Finally, they are unsuccessful in selling their new product.
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during its 2024 fiscal year, jacobsen corporation reported before-tax income of $624,000. this amount does not include the following two items, both of which are considered to be material in amount: unusual gain $ 204,000 loss on discontinued operations (304,000) the company's income tax rate is 25%. jacobsen corporation prepares its financial statements applying u.s. gaap. in its 2024 income statement, jacobsen would report income from continuing operations of:
In the fiscal year 2024, the income from continuing operations of Jacobsen Corporation is $447,000.
The income from continuing operations for Jacobsen Corporation during its 2024 fiscal year with the given details can be calculated as follows:The before-tax income is $624,000.The unusual gain is $204,000.The loss on discontinued operations is ($304,000). The income tax rate is 25%. The income from continuing operations of Jacobsen Corporation during its 2024 fiscal year is $447,000 (rounded off to the nearest dollar).The income from continuing operations of Jacobsen Corporation during its 2024 fiscal year can be calculated as follows:Income from continuing operations = Before-tax income + Unusual gain - Loss on discontinued operations - Income tax expenseIncome tax expense = Income before taxes x Income tax rateIncome tax expense = $320,000 ($624,000 x 25%)Income from continuing operations = $624,000 + $204,000 - ($304,000) - $320,000Income from continuing operations = $447,000Therefore, the income from continuing operations of Jacobsen Corporation during its 2024 fiscal year is $447,000 (rounded off to the nearest dollar).Learn more about income tax: https://brainly.com/question/26316390
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Art Company issued 6%, 5 year bonds, with par value of $1,600,000, paying semiannual interest for $1,470,226. The annual market rate of interest on the date of issue was 8%. Assuming effective interest method of amortization, calculate the bond interest expense on the first interest payment date
With par value of $1,600,000 and annual market rate of 8%, The bond interest expense on the first interest payment date will be 58,809
Bond interest expense is the total amount of interest paid on an organization's payable bonds over the course of a reporting period. This expense includes the amortisation of any discount or premium levied on bonds issued during the reporting period. Interest expense is an accounting item that is incurred as a result of repaying debt. Frequently, interest expenses are treated favourably by the tax code. The potential influence on a company's profitability grows as interest costs rise. Use coverage ratios to learn more.
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suppose that in 2018, the total value of all final services produced in a nation was $300 billion; the total value of all final goods produced in that nation was $400 billion; and the total value of all final goods and services produced by that nation's firms in other countries was $300 billion. gross domestic product (gdp) was $800 billion. $700 billion. $900 billion. $500 billion.
The Gross Domestic Product (GDP) will be $1,000 billion, which is not mentioned in any option.
The Gross Domestic Product (GDP) of a nation is calculated as the total value of all final goods and services produced by that nation's firms, including production within the country's borders and overseas. In the year 2018, the total value of all final services produced in a nation was $300 billion; the total value of all final goods produced in that nation was $400 billion; and the total value of all final goods and services produced by that nation's firms in other countries was $300 billion.
What was the GDP?In the year 2018, the GDP of that nation was $1,000 billion. This can be calculated as follows:
GDP = Value of all final services produced in the nation + Value of all final goods produced in the nation + Value of all final goods and services produced by that nation's firms in other countries
GDP= $300 billion + $400 billion + $300 billion= $1,000 billion
Therefore, the correct answer is $1,000 billion.
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Name the five forces identified by Porter’s five forces model anddescribe their relation to an organization’s internal and externalenvironments.
As per Porter, there are five variables that influence rivalry within a sector. The threat of replacement, buyer and supplier power, the threat of new entrance, and competitive rivalry are a few of them.
What do each of the five Porter's forces mean and what are they?
These forces, which have an impact on a company's profitability, include potential new market entrants, suppliers, customers, and replacement products. They also take into account the number and power of a company's competitors.
Are the five forces described by Porter internal or external?
The five components that make up Porter's 5 Forces are as the name implies. They have nothing to do with the internal organization of a firm because they are wholly external: Business competition: As the level of competition increases, the influence of rival companies.
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1. Why is business growth and development very uneven in our
world?
2. What are the risks of ‘too much emphasis’ on the Profit
objective of business? or why should business not only pursue economic
1. Business growth and development is very uneven in our world due to a variety of factors, including differences in resources, infrastructure, and government policies.
Some countries or regions may have more access to capital, technology, or skilled labor, while others may be limited by a lack of these resources. Additionally, government policies can play a role in creating a favorable or unfavorable business environment, such as through tax incentives or regulations.
2. The risks of placing too much emphasis on the profit objective of business include a focus on short-term gains at the expense of long-term sustainability, negative impacts on stakeholders such as employees and the environment, and a lack of trust from customers and society. Business should not only pursue economic objectives, but also consider social and environmental impacts, and work towards sustainable and responsible growth.
By taking a more holistic approach to business, companies can build stronger relationships with stakeholders and create more value over the long term. Additionally, a focus on social and environmental responsibility can help companies attract and retain talent, improve brand reputation, and access new markets.
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Suppose that $2700 is deposited in an account that earns 4% interest. How much is in the account (a) after 5 years? (b) after 10 years? (c) after 20 years? (d) after 50 years? (e) after 100 years?
(a) After 5 years, the amount in the account will be $ 3271.36
(b) After 10 years, the amount in the account will be $ 4025.52
(c) After 20 years, the amount in the account will be $ 6053.35
(d) After 50 years, the amount in the account will be $ 28,091.11
(e) After 100 years, the amount in the account will be $ 2,576,183.55
Simple interest is a type of interest calculation method where the interest is calculated only on the initial principal amount of a loan or investment, without taking into account any accumulated interest over time.
We can use the formula for compound interest to answer these questions. The formula is:
A = P(1 + r/n)^(nt)
Where:
A = the amount of money in the account after t years
P = the initial deposit (principal)
r = the interest rate (as a decimal)
n = the number of times interest is compounded per year
t = the number of years
(a) After 5 years:
A = 2700(1 + 0.04/1)^(1*5)
A = 2700(1.04)^5
A = 3271.36
(b) After 10 years:
A = 2700(1 + 0.04/1)^(1*10)
A = 2700(1.04)^10
A = 4025.52
(c) After 20 years:
A = 2700(1 + 0.04/1)^(1*20)
A = 2700(1.04)^20
A = 6053.35
(d) After 50 years:
A = 2700(1 + 0.04/1)^(1*50)
A = 2700(1.04)^50
A = 28,091.11
(e) After 100 years:
A = 2700(1 + 0.04/1)^(1*100)
A = 2700(1.04)^100
A = 2,576,183.55
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how would you describe the target audience of a product? planners largely rely on primary data to determine consumer target audience. the target audience of a product does not include potential customers. a product's target audience is the same as its target market. a product's target audience is considerably larger than its target market. media planners typically use geodemographic classifications to define their target audiences.
The target audience of a product can be described as a group of people who are more likely to buy or use that product. In this context, the planners mainly rely on primary data to determine the consumer target audience. A product's target audience is not the same as its target market. Also, it does not include potential customers.
The product's target audience is a considerably larger group of people than its target market. The media planners usually use geodemographic classifications to define their target audiences. In general, a product's target audience may vary depending on various factors like age, gender, income, location, lifestyle, behavior, and preferences.
Therefore, the product developers and marketers should analyze these factors and design the product that meets the specific needs and interests of the target audience. Additionally, the target audience research and analysis can help the marketers to develop the product's branding, messaging, advertising, and promotional campaigns that appeal to the target audience.
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date activity cost per unit jan 5 purchase 50 units $120 jan 20 purchase 100 units $135 jan 27 purchase 75 units $140 jan 30 sell 150 units to be determined the above transactions reflect your new company, which started its operation on jan 1st, with $0 beginning inventory. find the costs of goods sold for the month of january. assume that your warehouse manager uses fifo, periodic. type your answer without the dollar sign, for example: 13,500 should be typed as 13500
The cost of goods sold for the month of January will be $19,500.
To calculate the cost of goods sold using the FIFO method, we need to determine the cost of goods sold for each batch of units sold. Based on the information provided, we can calculate the cost of goods sold as follows:On January 30th, 50 units from the Jan 5 purchase and 100 units from the Jan 20 purchase were sold. The cost of goods sold for these units is:50 units x $120 + 100 units x $135 = $6,000 + $13,500 = $19,500
The remaining 25 units from the Jan 20 purchase and all 75 units from the Jan 27 purchase are still in inventory.Therefore, the correct cost of goods sold for the month of January is $19,500.Learn more about FIFO method: https://brainly.com/question/24137318
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