An estate distributes an asset to its sole Income beneficiary. The distribution was not a specific bequest. The basis of the asset to the estate is $1,000, and the assel's fair market value is $5,000. Distributable net income of the estate is $9,500. No other distributions are made, nor was an election made by the fiduciary with respect to this distribution. 10. The basis of the asset to the beneficiary after the distribution is: a. $1,000. b. $4,000. c. $5,000. d. $9,500.

Answers

Answer 1

The basis of the asset to the beneficiary after the distribution is $9,500 (option d).

The premise of the resource for the recipient after the circulation relies upon the kind of resource and the relevant principles for ascertaining the premise. For this situation, the conveyance was not a particular estate, meaning it was not explicitly assigned for the recipient.

Assuming the resource dispersed is a capital resource, the common guideline is that the recipient's premise would be the honest evaluation of the resource at the hour of dissemination, which is $5,000 for this situation.

This would permit the recipient to possibly understand a capital addition or misfortune when they sell or discard the resource later on.

In any case, in the event that the resource is viewed as pay in regard of a decedent (IRD), unique principles apply. IRD resources incorporate things like neglected compensation, money due, and other pay that the departed individual would have gotten assuming they were alive.

On account of an IRD resource circulation, the recipient takes a premise equivalent to the distributable net income (DNI) of the domain, which is $9,500 in this situation.

Consequently, in this particular case, the premise of the resource for the recipient after the circulation would be $9,500 (choice d). It is critical to talk with an expense proficient or survey the particular duty guidelines to guarantee precise assurance of the premise in some random circumstance.

To learn more about  Distributable Net income (DNI), refer:

https://brainly.com/question/23453940

#SPJ4


Related Questions

shepherd franklin purchased 130 shares of stock for $90 a share. james also paid a $55 commission. what was the total purchase price for this transaction?

Answers

The total purchase price for the transaction was $11,755.

To calculate the total purchase price, we multiply the number of shares purchased (130) by the price per share ($90). This gives us the total cost of the shares, which is $11,700. Additionally, we need to consider the commission paid by James, which is $55. Therefore, we add the commission to the cost of the shares to get the total purchase price, which is $11,700 + $55 = $11,755.

In conclusion, the total purchase price for Shepherd Franklin's transaction, including the cost of the shares and the commission, amounts to $11,755. This reflects the combined expenses associated with acquiring the 130 shares of stock at $90 per share, along with the additional $55 commission.

You can learn more about transaction  at

https://brainly.com/question/1016861

#SPJ11

Regarding sales manager's need for training: A. Most sales managers have already had all the training they need when they become managers. B. Generally, companies that provide excellent training for salespeople provide similar training for their sales managers. C. Almost all companies provide training for their new sales managers D. Sales manager candidates need training to do their jobs

Answers

The correct option is D. Sales manager candidates need training to do their jobs.

Among the options provided, option D is the most accurate statement. Sales manager candidates typically require training to effectively perform their job responsibilities. While it is true that some sales managers may have received training prior to their managerial role (option A), it is not a universal scenario. Option B suggests a correlation between excellent sales training for salespeople and training for sales managers, but it does not imply that all companies follow this practice. Option C is an overgeneralization, as not all companies provide training for their new sales managers. Overall, option D best reflects the common understanding that sales manager candidates benefit from training to enhance their skills and abilities in their managerial roles.

Therefore, the correct option is D. Sales manager candidates need training to do their jobs.

For more such questions on sales manager:

https://brainly.com/question/24198737

#SPJ11

the product is expected to have a market life of one year, at the end of which all production and sales would be discontinued. ace has a target rate of return on sales of 0.10. how many units must ace sell to earn the target rate of return?

Answers

To earn the target rate of return, Ace needs to sell (C / (1 - 0.10)) units of the product.

To calculate the number of units Ace must sell to earn the target rate of return, we need to consider the profit margin and the total investment. The target rate of return on sales of 0.10 means that Ace aims to earn a 10% return on the sales revenue.

Let's assume the cost per unit to produce the product is C and the selling price per unit is P. The profit per unit would be (P - C). Since Ace wants to earn a 10% return on sales, the profit margin per unit should be 10% of the selling price, which can be represented as 0.10P.

Now, let's consider the total investment Ace has made in producing the product. If Ace is discontinuing production and sales after one year, we can assume there are no further costs or investments after that period. Therefore, the total investment can be calculated as the total cost of producing all units.

To earn the target rate of return, Ace needs to cover the investment and make a profit. So, we can set up the following equation:

Total Investment + (Number of Units × Profit per Unit) = Number of Units × Selling Price × Target Rate of Return

Mathematically, this can be expressed as:

Total Investment + (Number of Units × (P - C)) = Number of Units × P × 0.10

Since the total investment is equal to the cost per unit multiplied by the number of units, the equation becomes:

C × Number of Units + (Number of Units × (P - C)) = Number of Units × P × 0.10

Simplifying further:

C × Number of Units + P × Number of Units - C × Number of Units = Number of Units × P × 0.10

P × Number of Units = Number of Units × P × 0.10

Dividing both sides by P and rearranging the equation:

Number of Units = (C / (1 - 0.10))

Therefore, to earn the target rate of return, Ace needs to sell (C / (1 - 0.10)) units of the product.

To learn more about the rate of return

https://brainly.com/question/1789817

#SPJ11

The following accounts were taken from the Adjusted Trial Balance columns of the end-of-period spreadsheet:
Accumulated Depreciation $ 2,342
Fees Earned 14,693
Depreciation Expense 819
Insurance Expense 445
Prepaid Insurance 4,745
Supplies 1,006
Supplies Expense 3,188
Net income for the period is
a.$2,148
b.$7,899
c.$4,452
d.$10,241

Answers

The net income for the period is $10,241, which corresponds to option d.

To calculate the net income for the period, we need to consider the revenues (income) and expenses listed in the given accounts.

In this case:

Fees Earned = $14,693 (revenue)

Depreciation Expense = $819 (expense)

Insurance Expense = $445 (expense)

Supplies Expense = $3,188 (expense)

Net Income = Revenues - Expenses

Net Income = Fees Earned - (Depreciation Expense + Insurance Expense + Supplies Expense)

Net Income = $14,693 - ($819 + $445 + $3,188)

Net Income = $14,693 - $4,452

Net Income = $10,241

Therefore, the net income =  $10,241 ( option d ).

Learn more about net income here:

https://brainly.com/question/28390284

#SPJ11

Required: Conduct relevant research on the accounting standard IFRS 13 Fair Value Measurement and
critically analyze and:
1.Identify areas where the company has not complied with the requirements of the
accounting standard which is IFRS 13 Fair Value Measurement.
Support your research findings with the listed companiy in Fiji that is Fijian Holdings Ltd.

Answers

IFRS 13 Fair Value MeasurementIFRS 13 Fair Value Measurement provides a consistent standard for measuring fair value, improving consistency and comparability in financial reporting.

Fair value measurement is used to identify the price that would be received for an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. This standard applies to the financial and non-financial assets and liabilities that are measured at fair value in the financial statements.

The standard is widely adopted in most countries. The following are areas where the company (Fijian Holdings Ltd) has not complied with the requirements of IFRS 13 Fair Value Measurement.1. Fair value measurements: Fijian Holdings Ltd did not disclose fair value measurements by level.

Learn more about  accounting Here-  

https://brainly.com/question/26690519

#SPJ4

nation security stragety. write a post on how pillars are being
implimented today in the INDO-PACIFIC region

Answers

The Indo-Pacific region is a geostrategic concept that connects the Indian and Pacific Oceans. There are four major pillars .The first pillar is military power, the second is economic influence, the third is alliances and partnerships, and the fourth is diplomacy and information.

Military Power: Several countries such as the US, Japan, and Australia have deployed significant military forces to the Indo-Pacific region, increasing the need for a cooperative defense strategy. These countries have focused on developing their naval forces in particular.Economic Influence: The Indo-Pacific region is home to some of the world's fastest-growing economies. The region also contains some of the world's largest economies, including the US, Japan, and China. These countries are working together to create an economic order that benefits all nations.Alliances and Partnerships: Countries in the Indo-Pacific region are forming alliances and partnerships to promote stability and cooperation. The US has alliances with Japan, South Korea, and Australia. India and Japan are also building a strategic partnership.Diplomacy and Information: Diplomacy and information are essential in building trust and understanding between nations. Diplomats from countries such as the US, Japan, and Australia are working to establish relationships with countries in the Indo-Pacific region.

For more such questions on partnerships

https://brainly.com/question/14034519

#SPJ11

PLEASE HELP ASAP PLEASE IN 30 MINS
Universal builders is an Auckland based builder specializing in house and land package around North and south Island. The new built houses were checked for defects and leaks in a sample by the buildin

Answers

Universal builders is a company that focuses on building homes and land packages in North and South Island. They specialize in building high-quality homes and ensuring that they are free from defects and leaks. To ensure this, they have a process in place where a sample of the new homes built are checked for any defects and leaks.

This process is essential in ensuring that the new homeowners are satisfied with the quality of their new homes. The company takes pride in delivering quality homes to their clients, and this process ensures that they meet their clients' expectations.

Building a new home is a significant investment for many people, and it is essential that the homes are built to the highest standards. This is what Universal builders aim to do, and they do this by having a process in place that ensures that the homes are free from any defects and leaks.

In conclusion, Universal builders is a company that focuses on building high-quality homes and ensuring that they meet the expectations of their clients. They do this by having a process in place where they check a sample of the new homes built for any defects and leaks. This ensures that the new homeowners are satisfied with the quality of their new homes.

To know more about process visit :

https://brainly.com/question/14832369

#SPJ11

If Sales is $208,000 and Variable expenses = $144,000 and Fixed
expenses = $56,000 and Net operating income = $8,000, what is the
contribution margin?
Group of answer choices
a. $64,000
b. $56,000
c. $8,000
d. $5

Answers

The contribution margin is $64,000, option A. The contribution margin is calculated by subtracting variable expenses from sales.

Contribution Margin: Contribution margin is defined as the amount of money that is left over from sales after variable expenses are paid.

The contribution margin can be used to cover fixed expenses and generate profits for a company. The contribution margin is calculated by subtracting variable expenses from sales. Variable Expenses: Variable expenses are costs that change based on the level of production or sales. Examples of variable expenses include direct materials, direct labor, and sales commissions. Variable expenses can be controlled by the management, but they cannot be eliminated completely without affecting production and sales.

Therefore, the contribution margin for a given company can be calculated by subtracting variable expenses from sales. The given data can be used to calculate the contribution margin as follows:

Sales = $208,000

Variable expenses = $144,000

Fixed expenses = $56,000

Net operating income = $8,000

Contribution Margin = Sales - Variable expenses Contribution Margin = $208,000 - $144,000

Contribution Margin = $64,000

Therefore, the contribution margin is $64,000, option A.

Learn more about Contribution Margin here.

https://brainly.com/question/29674918

#SPJ11

Suppose that in the community of Pavement Narrows, the demand for electricity in a typical household is given by the function. P-400-0.1 Q Where Q is the units of electricity consumed. Suppose that there are currently 10,000 households in Pavement Narrows. The government has fixed the price of electricity at $10 per unit. However, the current capacity to produce electricity for this community is 3600 units. To eliminate the shortage, the government has suggested building a small dam on the Dinsdale River which runs by Pavement Narrows. The dam would cost $180,000 to build. A local policy analyst, Anne Elke, has stated, "The government would be better off not to build the dam and instead raise the price of electricity to $40 per unit. Using the concept of consumer surplus, show whether Anne Elke is correct or not.

Answers

Anne Elke is not correct. Building the dam and maintaining the price at $10 per unit would result in a higher consumer surplus compared to raising the price to $40 per unit.

How to find if Anne Elke is correct

Consumer surplus represents the difference between what consumers are willing to pay for a good or service and what they actually pay.

Calculating the consumer surplus under the current situation:

Consumer Surplus at $10 per unit:

Consumer surplus = 0.5 * (Q1-Q2) * (P2-P1)

Substituting the values:

Consumer surplus = 0.5 * (3600 - 10,000) * ($10 - ($400 - 0.1Q))

Consumer surplus = 3,200 * ($390 - 0.1Q)

Consumer surplus = 3,200 * $390 - 3,200 * 0.1Q

Consumer surplus = $1,248,000 - 320Q

Calculating the consumer surplus under the proposed situation of $40 per unit:

Consumer Surplus at $40 per unit:

Consumer surplus = 0.5 * (Q1-Q2) * (P2-P1)

Substituting the values:

Consumer surplus = 0.5 * (3600 - 10,000) * ($40 - ($400 - 0.1Q))

Consumer surplus = 3,200 * ($360 - 0.1Q)

Consumer surplus = 3,200 * $360 - 3,200 * 0.1Q

Consumer surplus = $1,152,000 - 320Q

Comparing the consumer surplus under the current situation ($1,248,000 - 320Q) with the consumer surplus under the proposed situation ($1,152,000 - 320Q), we can see that the consumer surplus is higher under the current situation.

Therefore, Anne Elke is not correct. Building the dam and maintaining the price at $10 per unit would result in a higher consumer surplus compared to raising the price to $40 per unit.

Learn more about consumer surplus at https://brainly.com/question/13136036

#SPJ1

Conboy Corporation disclosed in the notes to its financial statement that a siginificant number of its unsecured trade account receivables are with companies that operate in the same industry. this disclosure is required to inform financial statement users of the existence of

Answers

Conboy Corporation disclosed in the notes to its financial statement that a significant number of its unsecured trade account receivables are with companies that operate in the same industry.

This disclosure is required to inform financial statement users of the existence of the concentration of credit risk. A company's financial statements provide important information to both internal and external users. The company's financial position, performance, and cash flow are all disclosed in the financial statements. To provide complete and useful information, some disclosures are required to be made in the financial statements notes. These notes contain important details that aid users in comprehending the company's financial statements better.

Credit risk concentration disclosures, for example, are included in the notes to the financial statements. The concentration of credit risk refers to the risk of loss when many similar investments or businesses, such as trade accounts receivables, are located in the same geographical region, industry, or economic climate, and there is a chance that a significant number of these may default on their debt obligations. These disclosures inform users about the credit risk associated with the company's accounts receivables and the measures that management has taken to mitigate such risk.

To learn more about financial statement, visit here

https://brainly.com/question/14951563

#SPJ11

The bank is paying 39.83% compounded annually. The inflation is expected to be 9.67% per year. What is the inflation free interest rate? Enter your answer as percentage, without the % sign. Provide 2 decimal places. For example, if 12.34%, enter: 12.34 0.1 pts

Answers

The inflation-free interest rate can be calculated by subtracting the inflation rate from the nominal interest rate. In this case, the nominal interest rate is 39.83% compounded annually, and the inflation rate is 9.67% per year. Therefore, the inflation-free interest rate is 30.16%.

To calculate the inflation-free interest rate, we need to adjust the bank's welfare rate by subtracting the inflation rate.

Let's denote the bank's interest rate as r and the inflation rate as i.

The inflation-free interest rate can be calculated using the formula:

Inflation-free interest rate = (1 + r) / (1 + i) - 1

Given:

Bank interest rate (r) = 39.83% = 0.3983

Inflation rate (i) = 9.67% = 0.0967

Plugging in the values into the formula:

Inflation-free interest rate = (1 + 0.3983) / (1 + 0.0967) - 1

Calculating:

Inflation-free interest rate = 1.3983 / 1.0967 - 1

Inflation-free interest rate ≈ 0.2737

The inflation-free interest rate is approximately 27.37%.

To know more about inflation please refer:

https://brainly.com/question/29104154

#SPJ11

subject: Analysis of financial statements
Note: Please solve full question and also share working
notes..
this is full question
Problem: INCOME STATEMENT Net sales Cost of goods Gross profit Income from Short term Investment Operating Expenses Financial Expenses Depreciation expense Income before tax Income tax expense Net inc

Answers

Income statement is a financial statement that reports a company's revenues and expenses and the resulting net income or loss for a given period. Gross profit, operating expenses, depreciation expense, income before tax, income tax expense, net income are all the components of the income statement.

The income statement is the financial statement that reports a company's revenues and expenses and the resulting net income or loss for a given period. The components of the income statement include net sales, cost of goods, gross profit, income from short term investment, operating expenses, financial expenses, depreciation expense, income before tax, income tax expense, net income. All these are interlinked components of an income statement that reflect the profitability of a company. The gross profit is computed by deducting the cost of goods from the net sales, and then operating expenses are subtracted from gross profit to arrive at income before tax. After adjusting for income tax expense, net income is arrived at, which reflects the company's profitability.

Know more about Income statement, here:

https://brainly.com/question/14890247

#SPJ11

Which of the following are included in the Services Account of the U.S. Balance of Payments? O a. Travel, tourism, and interest payments on debt O b. Tourism, entertainment, and merchandise trade O c. Entertainment, travel, and unilateral transfers O d. Unilateral transfers, merchandise trade, and interest payments on debt In the foreign exchange (FX) market: Select one: O a. Buying a currency in the same as supplying it O b. Selling a currency is the same as demanding it O c. Buying a currency is the same as demanding it O d. Currencies can neither be bought nor sold

Answers

The correct option is entertainment, travel, and unilateral transfers

Services Account of the U.S. Balance of Payments.

The U.S. Balance of Payments' Services Account comprises a variety of transactions relating to services like travel, tourism, communication, and entertainment.

These transactions involve the buying or selling of services between nationals and foreigners. Foreign aid or remittances from people working abroad are examples of transfers of money that are sent without the expectation of receiving anything in return, or unilateral transfers.

Based on the explanations above, we can conclude that entertainment, travel, and unilateral transfers is included in the Services Account of the U.S. Balance of Payments.

Learn more on Services Account of the U.S. Balance of Payments here: https://brainly.com/question/30567419

#SPJ4

Which of the following statements is true? O A fixed charge is usually created over the immovable assets of the company and it allows the company to deal with and dispose these assets in the ordinary course of business. O A floating charge is usually created over the movable assets of the company and it prevents the company to dispose these assets without the bank's approval. O The company can dispose its movable assets when it foresees that the mortgagee is going to crystallise the floating charge. O None of the options.

Answers

The correct statement among the following is: A floating charge is usually created over the movable assets of the company, and it allows the company to deal with and dispose of these assets in the ordinary course of business. The correct answer is option(b).

A floating charge is a type of security interest that a lender can take over a company's assets. It applies to the general assets of a company and is not linked to a specific asset, unlike a fixed charge. The floating charge is known as floating since the assets it secures change from time to time. A fixed charge is a security interest that allows a lender to take control of a company's assets to ensure that the loan is repaid.

It is a fixed charge on an asset that is given to a lender to guarantee a loan. This ensures that the asset can be sold to pay off the loan if the borrower defaults. The company can dispose of its movable assets when it foresees that the mortgagee is going to crystallize the floating charge. A floating charge becomes fixed when the lender takes steps to enforce the security interest. The assets covered by a fixed charge cannot be sold by the company without the lender's permission.

To know more about floating charge refer to:

https://brainly.com/question/29357655

#SPJ11

Prepare a comprehensive brief and a thumbnail brief using the IRAC method for Marbury v. Madison 5 U.S. 137 (1803).

Answers

IRAC is an acronym for Issue, Rule, Application, and Conclusion. This method is commonly used by law students and lawyers to organize their legal analysis and thoughts.

Here is a comprehensive brief and a thumbnail brief using the IRAC method for Marbury v. Madison 5 U.S. 137 (1803). IRAC Comprehensive Brief for Marbury v. Madison 5 U.S. 137 (1803) Issue: Whether the United States Supreme Court can declare an act of Congress unconstitutional? Rule: Article III, Section 2 of the U.S. Constitution grants the Supreme Court the authority to hear cases arising under the Constitution, and laws made under it.

The court has the power of judicial review, which includes the power to declare acts of Congress unconstitutional. Application: William Marbury was one of the so-called "midnight judges" appointed by outgoing President John Adams.

However, the new Secretary of State, James Madison, failed to deliver the commission to Marbury. Marbury sought a writ of mandamus, asking the Supreme Court to compel Madison to deliver the commission. Chief Justice John Marshall held that Section 13 of the Judiciary Act of 1789, which authorized the Supreme Court to issue writs of mandamus, was unconstitutional. T

he court could not expand its original jurisdiction beyond what was granted by the Constitution. Conclusion: The Supreme Court has the power of judicial review, which includes the power to declare acts of Congress unconstitutional.

The Judiciary Act of 1789 was unconstitutional to the extent that it expanded the original jurisdiction of the Supreme Court. Therefore, the court did not have the authority to issue a writ of mandamus.

IRAC Thumbnail Brief for Marbury v. Madison 5 U.S. 137 (1803)I = The power of judicial review R = The court cannot expand its original jurisdiction beyond what was granted by the Constitution A = The Judiciary Act of 1789 was unconstitutional C = The court did not have the authority to issue a writ of mandamus.

To know more about lawyers visit:

https://brainly.com/question/13671471

#SPJ11

Using the Rule of 72, what approximate annual rate of return will an investor receive over a 15-year period if their original investment quadruples in value? Enter your answer as a decimal out to four decimal places. As an example, you would enter 1.146 % as 0.0146.

Answers

Therefore, the approximate annual rate of return that the investor will receive over the 15-year period is approximately 9.6%, expressed as a decimal to four decimal places, it is 0.0960.

The Rule of 72 is a simplified method used to estimate the number of years it takes for an investment to double, given a fixed annual rate of return.To estimate the annual using the Rule of 72, we divide 72 by the number of years it takes for the investment to double.

In this case, the original investment quadruples in value over a 15-year period. Since quadrupling is equivalent to doubling twice, we can divide 15 by 2 to determine the approximate number of years it takes for the investment to double.

Number of years to double = 15 / 2 = 7.5 years

Now, to estimate the annual rate of return, we divide 72 by the number of years to double:

Approximate annual rate of return = 72 / 7.5 ≈ 9.6

the approximate annual rate of return that the investor will receive over the 15-year period is approximately 9.6%,

Learn more about the rate of return.

https://brainly.com/question/14156102

#SPJ11

Bond Y is a premium bond with a coupon rate of 8 percent. Bond Z is a discount bond with a coupon rate of 6.1 percent. Both bonds make annual payments and have a YTM of 7.1 percent, a par value of $1,000, and six years to maturity.

Requirement 1: What is the current yield for Bond Y? For Bond Z?

Requirement 2: If interest rates remain unchanged, what is the expected capital gains yield over the next year for Bond Y? For Bond Z? (Hint: find the value of the bond 1 year from today)

Answers

1. The current yield for Bond Y is approximately 7.57%, and for Bond Z, it is around 6.47%.

2. The expected capital gains yield over the next year for Bond Y is approximately 2.65%, and for Bond Z, it is approximately 3.37%.

How to calculate current yield?

The current yield is calculated as the annual coupon payment divided by the current market price of the bond, expressed as a percentage.

For Bond Y:

Coupon rate = 8% (0.08)

Par value = $1,000

YTM = 7.1% (0.071)

Current yield for Bond Y = (Coupon payment / Market price) * 100

Since Bond Y is a premium bond, its market price will be higher than the par value. To calculate the market price, we need to find the present value of the bond's cash flows.

Coupon payment for Bond Y = Coupon rate * Par value = 0.08 * $1,000 = $80

The bond pays the coupon payment annually for six years, and the par value is returned at maturity. Using the formula for the present value of an ordinary annuity and the present value of a lump sum:

Market price of Bond Y = [($80 / (1 + 0.071)^1) + ($80 / (1 + 0.071)^2) + ... + ($80 / (1 + 0.071)^6)] + ($1,000 / (1 + 0.071)^6)

Calculating this value using a financial calculator or spreadsheet, we find the market price of Bond Y to be approximately $1,057.28.

Current yield for Bond Y = ($80 / $1,057.28) * 100 ≈ 7.57%

For Bond Z:

Coupon rate = 6.1% (0.061)

Par value = $1,000

YTM = 7.1% (0.071)

Current yield for Bond Z = (Coupon payment / Market price) * 100

Since Bond Z is a discount bond, its market price will be lower than the par value. Using the same formula for the present value of an ordinary annuity and the present value of a lump sum:

Market price of Bond Z = [($61 / (1 + 0.071)^1) + ($61 / (1 + 0.071)^2) + ... + ($61 / (1 + 0.071)^6)] + ($1,000 / (1 + 0.071)^6)

Calculating this value using a financial calculator or spreadsheet, we find the market price of Bond Z to be approximately $942.39.

Current yield for Bond Z = ($61 / $942.39) * 100 ≈ 6.47%

How to determine expected capital gains yield?

The expected capital gains yield over the next year can be calculated as the difference between the expected future market price and the current market price, expressed as a percentage.

For Bond Y, we need to find the future market price of the bond after one year. Using the same formula for the present value of an ordinary annuity and the present value of a lump sum, but substituting five years instead of six:

Future market price of Bond Y = [($80 / (1 + 0.071)^2) + ($80 / (1 + 0.071)^3) + ... + ($80 / (1 + 0.071)^6)] + ($1,000 / (1 + 0.071)^6)

Calculating this value, we find the future market price of Bond Y to be approximately $1,085.25.

Expected capital gains yield for Bond Y = (Future market price - Current market price) / Current market price * 100

Expected capital gains yield for Bond Y = ($1,085.25 - $1,057.28) / $1,057.28 * 100 ≈ 2.65%

For Bond Z, we

follow the same procedure to find the future market price after one year:

Future market price of Bond Z = [($61 / (1 + 0.071)^2) + ($61 / (1 + 0.071)^3) + ... + ($61 / (1 + 0.071)^6)] + ($1,000 / (1 + 0.071)^6)

Calculating this value, we find the future market price of Bond Z to be approximately $974.12.

Expected capital gains yield for Bond Z = (Future market price - Current market price) / Current market price * 100

Expected capital gains yield for Bond Z = ($974.12 - $942.39) / $942.39 * 100 ≈ 3.37%

Therefore, the expected capital gains yield over the next year for Bond Y is approximately 2.65% and for Bond Z is approximately 3.37%.

Learn more about: current yield

brainly.com/question/16748047

#SPJ11

arry age 36 is a Master welder who works for Oklahoma welding Company, his wife Kay also 36 yrs old has a job with the local oil company.

Larry's Salary: $40,000

Kay's Salary: $20,000

Larry's 401K deferral: $4000

Kay's 401K deferral: $2000

Both have a student loan interest of $290

They both file "Married filed jointly" and so take a standard deduction of $24,400

With the above information, calculate the taxable income of Larry family:

Group of answer choices

$60,000

$54,000

$29,310

$53,710

Answers

Acording to the details about Larry and Kay's household, we can pin the taxable income of the family to: $53,710

What is taxable income?

Taxable income refers to the income by a household that is subject to taxation. This is calculated by subtracting the adjusted gross income from the gross income of the family.

The adjusted gross income of this family is 60,000 and this is obtained by summing the salaries of the two individuals. Next, we calculate the items that are not taxable as follows:

4000 + 2000 + 290 = 6,290

Now, we subtract the total or gross income from the non-taxable income to have $53,710.

Learn more about taxable income here:

https://brainly.com/question/1160723

#SPJ4

Below is the information about companys selling price, fixed cost and variable variable cost per unit= 55$ fixed cost=10000 sales price 100$ COLLEGE. a) Find BEP of the company in terms of units sold and dollars sold? b) How do you interpret BEPS? c) what are your suggestions to lower BEP?

Answers

a)  The value of contribution margin is 22222.22 dollars.

b) BEP is the point where the total revenue equals the total cost, meaning the company is breaking even.

c) Suggestions to lower BEP include: increasing the selling price, decreasing variable costs, or decreasing fixed costs.

a) In order to calculate the BEP in terms of units sold, we can use the following formula:BEP (units) = fixed cost / contribution per unit

Contribution per unit = selling price per unit - variable cost per unit

Contribution per unit = 100 - 55 = 45BEP (units) = 10000 / 45BEP (units) = 222.22 units

To calculate the BEP in terms of dollars sold, we can use the following formula:BEP (dollars) = fixed cost / contribution margin

Contribution margin = selling price per unit - variable cost per unit

Contribution margin = 100 - 55 = 45BEP (dollars) = 10000 / 0.45BEP (dollars) = 22222.22 dollars

b) This is important because it helps the company understand the minimum amount of units or dollars they need to sell in order to not lose money.

c) The company could also look into improving efficiency or finding ways to increase demand for their product. By doing any of these things, the company could lower their BEP and become more profitable.

To know more about contribution margin click on below link:

https://brainly.com/question/29534784#

#SPJ11

Topic: The Customer-Defined Experience Customer building strategies allow a company to get to know its customers and in turn determine better strategies to improve customer service based on customer needs and wants. You practiced with these concepts in the learning activity. Now you will apply what you learned. Read the scenario and then respond to the bulleted items. Hello CSR, I just ordered towels and cannot seem to get the website to provide assurance that the color of these items I chose and the bath sheet size I wanted are in fact the same items that are going to arrive. Also, I got no confirmation the order went through. Can you assist since I need these as soon as possible? Regards, Raúl • How would you define the customer service problem above using your CSR toolbelt found in the learning activities? • How could the CSR resolve the problem using the CSR toolbelt? • How could this company ensure customer-defined service going forward? • What would they need to change and why?

Answers

By improving communication, transparency, and the accuracy of information, the company can ensure a customer-defined service experience that meets customer needs and expectations.

The customer service problem described above involves a lack of communication and transparency regarding the customer's order. The customer is concerned about not receiving confirmation that the order went through and is unsure if the selected color and size will match the items that will be delivered. This creates a sense of uncertainty and dissatisfaction for the customer.To resolve the problem using the CSR toolbelt, the customer service representative (CSR) can employ several strategies. First, the CSR should apologize for the inconvenience caused and empathize with the customer's urgency. They should then confirm the customer's order details, including the chosen color and bath sheet size, by cross-referencing it with the customer's preferences and the company's inventory. The CSR should assure the customer that they will investigate and provide accurate information about the order.This will help customers make informed choices and avoid any discrepancies between expectations and reality.

For more such questions on communication

https://brainly.com/question/25020821

#SPJ11

Question 3 (Marks: 20)

As a result of Covid‐19, imports have been restricted and Rosebank College has numerous issues regarding the supply of textbooks which impacts students’ academic journey, particularly the completion of assessments.

Q.3.1 In your own words, discuss any three of the various sources available to identify the right suppliers in relation to Rosebank College. (12)

Q.3.2 Briefly discuss any two purchasing and supply management process risks that Rosebank College may be experiencing. (8)

Answers

1. Sources that can be used to identify the right suppliers in relation to Rosebank College are online directories, trade publications, and social media platforms

2. Purchasing and supply management process risks that Rosebank College may be experiencing are supply chain disruption risk and quality risk.

1. Various sources available to identify the right suppliers in relation to Rosebank College are:

1. Online directories: Several online directories provide a list of suppliers, allowing the college to browse through the list and choose one that meets their requirements. Some directories are specialized in certain industries, while others are more general and encompass a variety of sectors. For example, ThomasNet and Alibaba.

2. Trade publications: Trade publications provide insights into industry trends, upcoming events, and news about suppliers, which can be useful for identifying the right suppliers. For example, IndustryWeek and Supply Chain Digest.

3. Social media platforms: Social media platforms are a good source to find and engage with potential suppliers. For instance, LinkedIn is a professional social media platform where suppliers can promote their products or services, post content about their company, and interact with customers.

2. Two purchasing and supply management process risks that Rosebank College may be experiencing are:

1. Supply chain disruption risk: The COVID-19 pandemic has created significant supply chain disruptions, which can affect the availability and delivery of goods and services. The college may face difficulties in getting textbooks delivered on time, leading to delays in the completion of assessments.

2. Quality risk: If the college is unable to identify the right supplier, they may receive textbooks that do not meet their quality standards. This can lead to students receiving inadequate or incorrect information and can impact their academic journey negatively.

Learn more about Supply chain:

https://brainly.com/question/17517887

#SPJ11

H Problem Walk-Through A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 8% semiannual coupon, are callable in 6 years at $1,060.37, and currently sell at a price of $1,113.

Answers

The nominal yield to maturity (YTM) is approximately 5.41%.

The nominal yield to call (YTC) is approximately 6.54%.

To calculate the nominal yield to maturity (YTM) and the nominal yield to call (YTC) for the given bond, we will use the following formula:

Yield = (Annual Interest Payment + [(Face Value - Purchase Price) / Years]) / Purchase Price

Nominal Yield to Maturity (YTM):

The bond has a maturity of 12 years, a face value of $1,000, and an 8% semiannual coupon. To calculate the YTM, we first need to determine the annual interest payment and the number of years.

Annual Interest Payment = (Coupon Rate * Face Value) / 2

Annual Interest Payment = (0.08 * $1,000) / 2

Annual Interest Payment = $40

Years = Maturity in years = 12

Purchase Price = $1,113 (given)

YTM = (Annual Interest Payment + [(Face Value - Purchase Price) / Years]) / Purchase Price

YTM = ($40 + [($1,000 - $1,113) / 12]) / $1,113

YTM ≈ 0.0541 or 5.41% (rounded to two decimal places)

Therefore, the nominal yield to maturity is approximately 5.41%.

Nominal Yield to Call (YTC):

The bond is callable in 6 years at a price of $1,060.37. We need to calculate the YTC using the same formula but with the number of years equal to the call period, and the purchase price as the call price.

Years = Call Period = 6

Purchase Price (for YTC) = Call Price = $1,060.37 (given)

YTC = (Annual Interest Payment + [(Face Value - Purchase Price) / Years]) / Purchase Price

YTC = ($40 + [($1,000 - $1,060.37) / 6]) / $1,060.37

YTC ≈ 0.0654 or 6.54% (rounded to two decimal places)

The nominal yield to call is approximately 6.54%.

Therefore,

The nominal yield to maturity (YTM) is approximately 5.41%.

The nominal yield to call (YTC) is approximately 6.54%.

The question should be:-

H Problem Walk-Through A firm's bonds have a maturity of 12 years with a $1,000 face value, have an 8% semiannual coupon, are callable in 6 years at $1,060.37, and currently sell at a price of $1,113. What is nominal yield to maturity and nominal yield to call?

Learn more about Yield to maturity here:-

https://brainly.com/question/457082

#SPJ11

Which of the following budgets can be used for control? Budgeted
income statement Production budget All of these Selling and
administrative expense budget Cash budget

Answers

All of these budgets are valuable tools for control purposes, allowing management to compare actual performance with the budgeted figures, identify discrepancies, and make informed decisions to ensure financial stability and efficiency.

How can these budgets be used for control?

All of the budgets mentioned can be used for control purposes.

1. Budgeted Income Statement: This budget provides an overview of expected revenues and expenses for a specific period. By comparing the actual income statement with the budgeted one, management can identify variations and take corrective actions if necessary. It helps in controlling costs, monitoring profitability, and making strategic decisions.

2. Production Budget: The production budget outlines the estimated number of units to be produced during a given period. By comparing the actual production with the budgeted figures, management can evaluate the efficiency of production processes, identify any deviations, and adjust production levels accordingly.

3. Selling and Administrative Expense Budget: This budget estimates the expected costs associated with selling and administrative activities, such as marketing, sales, and general administrative expenses. Monitoring actual expenses against the budgeted amounts helps in controlling and managing these costs, ensuring they remain within acceptable limits.

4. Cash Budget: The cash budget forecasts the cash inflows and outflows for a specific period, helping management to assess the organization's cash position. By comparing actual cash flows with the budgeted amounts, it allows for better control over cash management, identifying potential cash shortages or surpluses, and taking appropriate actions to maintain liquidity.

In summary, all of these budgets are valuable tools for control purposes, allowing management to compare actual performance with the budgeted figures, identify discrepancies, and make informed decisions to ensure financial stability and efficiency.

learn more about budget: https://brainly.com/question/6663636

#SPJ4

explain the differences that exist between incorporating the tbl framework into the service industry and the manufacturing industry, and why.

Answers

The main difference between incorporating the TBL (Triple Bottom Line) framework into the service industry and the manufacturing industry lies in the nature of their operations.

The service industry primarily deals with intangible products and focuses on delivering experiences, while the manufacturing industry produces tangible goods. Consequently, the TBL framework implementation will vary based on their distinct impacts on social, environmental, and economic aspects.

In the service industry, incorporating the TBL framework involves emphasizing social and environmental considerations in the delivery of services. It focuses on aspects such as employee welfare, community engagement, customer satisfaction, and environmental sustainability in service operations. Economic aspects are also important but may be more indirectly related to the service value proposition.

In the manufacturing industry, the TBL framework encompasses a broader scope, including the supply chain, production processes, and product life cycle. It involves integrating sustainable practices throughout the value chain, optimizing resource efficiency, reducing waste, and ensuring fair labor practices. Economic viability remains crucial, but it is often tied more closely to cost management, efficiency, and product quality.

Overall, while both industries can benefit from adopting the TBL framework, their specific implementation will differ based on the unique nature of their operations and the areas of impact they prioritize.

Learn more about industry  here:

https://brainly.com/question/30454410

#SPJ11

Unemployment e Page(s) 647-648 20.1. Whal are the major reasons for unemployment? Due to labor-market regulations that make it difficult for young workers to break into the labor force, Spain has the highest level of youth unemployment (age 15-24) in Europe. The youth unemployment rate peaked in 2013 at 55.7% and has since fallen, but as of 2018 it was still 33.4% (ILO estimates). Based on this information, select whether the following suggested measures would reduce or increase Spanish youth unemployment. Reduce(s) Youth Unemployment Drag appropriate answer(s) here increase Social Security contributions by companies enable youth to leave high school at a younger age + make it easier for companies to break fixed- term contracts to lay off workers encourage students to stay in the education system longer lower the age at which students can enter dedicated skills-training programs increase the number of jobs that are covered by fixed-term contracts offer a government subsidy for companies that hire long-term unemployed youth Drag appropriate answer(s) here Increase(s) Youth Unemployment

Answers

Based on the given information, the following measures would reduce Spanish youth unemployment: Make it easier for companies to break fixed-term contracts to lay off workers: This would allow companies to hire more young workers, as they would not have to worry about being stuck with them if the economy took a downturn.

Encourage students to stay in the education system longer: This would give young people the skills they need to compete for jobs in the modern economy. Offer a government subsidy for companies that hire long-term unemployed youth: This would make it more attractive for companies to hire young people who have been out of work for a long time.

The following measures would increase Spanish youth unemployment:

Increase Social Security contributions by companies: This would make it more expensive for companies to hire young workers and could lead to them hiring fewer young people.

Enable youth to leave high school at a younger age: This would reduce the number of young people with the skills they need to get a job.

Lower the age at which students can enter dedicated skills-training programs: This would make it more difficult for young people to get a job, as they would be competing with older workers who have more experience.

It is important to note that these are just a few of the measures that could be taken to reduce youth unemployment. There are many other factors that contribute to youth unemployment, and it is likely that a combination of measures would be needed to make a significant difference.

In addition to the measures listed above, other things that could be done to reduce youth unemployment include:

Investing in education and training: This would give young people the skills they need to get a job.

Creating more jobs: This would obviously help to reduce unemployment, but it is also important to create jobs that are suitable for young people.

Removing barriers to employment: This could include things like discrimination and lack of access to transportation.

By taking these steps, it is possible to reduce youth unemployment and give young people the opportunity to build a better future for themselves.

Learn more about government subsidies here:- brainly.com/question/30582017

#SPJ11

johnson has a policy of maintaining 40% of the following month's estimated cost of sales on hand in merchandise inventory at the end of each month. the cost of goods sold is 60% of sales. what is the cost of the merchandise inventory that johnson needs to purchase in may?

Answers

Johnson would need to purchase $24,000 worth of merchandise inventory for May.

To calculate the cost of merchandise inventory that Johnson needs to purchase in May, we first need to estimate the cost of goods sold for May. We can do this using the following formula:

Cost of Goods Sold = 60% * Sales

To determine the required merchandise inventory for May, we need to find 40% of the estimated cost of goods sold for June. Since Johnson maintains 40% of the following month’s estimated cost of sales on hand in inventory each month and we are trying to determine the merchandise inventory for May, we need to estimate the June cost of goods sold.

Assuming the estimated sales for June are $100,000, the June cost of goods sold would be:

Cost of Goods Sold = 60% * $100,000 = $60,000

To determine the required merchandise inventory for May, we need to find 40% of the June cost of goods sold:

Merchandise Inventory = 40% * $60,000 = $24,000

Therefore, Johnson would need to purchase $24,000 worth of merchandise inventory for May to maintain its policy of keeping 40% of the following month’s estimated cost of sales on hand.

for more such questions on inventory

https://brainly.com/question/26533444

#SPJ11

Bristo Corporation has sales of 1,000 units at $50 per unit Variable expenses are 40% of the selling price. If total fixed expenses are $20.000 the degree of operating leverage is
1)5.00
2)2.17
3)3.00
4)2.00

Answers

Bristo Corporation has sales of 1,000 units at $50 per unit. Variable expenses are 40% of the selling price. If total fixed expenses are $20,000, the degree of operating leverage is calculated as follows:

Degree of Operating Leverage (DOL)

= Contribution Margin/Net Operating IncomeIf we know that variable expenses are 40% of the selling price, the contribution margin can be calculated by subtracting variable expenses from sales. Therefore, Contribution Margin

= Sales - Variable Expenses. Thus,Contribution Margin

= $50 x 1,000 units - 0.40 x $50 x 1,000 units

= $30,000The next step is to calculate the net operating income.

Net Operating Income = Contribution Margin - Fixed Expenses, thereforeNet Operating Income

= $30,000 - $20,000

= $10,000Finally, the degree of operating leverage (DOL) can be calculated by dividing the contribution margin by the net operating income. Hence,DOL

= $30,000/$10,000

= 3Therefore, the degree of operating leverage for Bristo Corporation is 3.00, which is option 3.

To know more about Variable visit:
https://brainly.com/question/15078630

#SPJ11

Students are expected to read Chapter 8, Section 1 called Interpersonal Communication including Table 8.1 and think of a time they didn't use the most appropriate medium of communication. Then, make an initial post describing the communication, listing the medium of communication used and sharing how they could have used an alternative medium of communication to best relay the message.

Answers

Interpersonal communication is the type of communication that takes place between two people or a group of people. It includes sending and receiving messages between individuals with the intention of developing mutual understanding.

Interpersonal communication is an essential aspect of human interaction and can take various forms, including verbal and nonverbal communication.

The most common types of interpersonal communication include face-to-face communication, texting, email, and phone calls. In my experience, I once sent a text message to my boss to inform him that I was going to be late for work. It was early in the morning, and I didn't want to disturb him with a phone call. I used texting as a medium of communication because I thought it would be more convenient for both of us.

it is essential to choose the appropriate medium of communication depending on the context and the nature of the message. It is also necessary to consider the recipient and their preferences when choosing the medium of communication to use

interpersonal communication plays a crucial role in human interaction. Using the most appropriate medium of communication is key to developing mutual understanding and building strong relationships.

To know more about Interpersonal communication visit:-

https://brainly.com/question/13361885

#SPJ11

On January 1, 2019, Hamad Town Co. purchased a machine for $240,000. It is estimated that the machine will have a 10-year unelul e or 100,000 units over its und Me Salvage valon at the t useful te is

Answers

Depreciation expense for the year ended December 31, 2019, using units of the production method of depreciation would b $26,400.

How to solve

The formula for depreciation using the units of production method is:

Depreciation expense = (Cost of asset - Salvage value) / Total units of production * Actual units produced

The asset is priced at $240,000, with a $20,000 salvage value, and a total production capacity of 100,000 units. However, only 12,000 units were actually produced in 2019.

Therefore, the depreciation expense for 2019 is:

Depreciation expense = (240,000 - 20,000) / 100,000 * 12,000 = $26,400

Read more about depreciation expense here:

https://brainly.com/question/28108679

#SPJ1

The Complete Question

On January 1, 2019, Hamad Town Co. purchased a machine for $240,000. It is estimated that the machine will have a 10-year unelul e or 100,000 units over its und Me Salvage valon at the t useful te is estimated to be $20,000 Assuming the company produced 12,000 units in 2019 Depreciation expense for the year ended December 31, 2019 using units of production method of depreciation would b OA $40,000 O $26.400 OC None of these answers OD $22.000

Which is a characteristic of quasi-experimental research designs that is considered a weakness, compared with experimental designs?

Answers

One of the major characteristics of quasi-experimental research designs that is considered a weakness when compared with experimental designs is the lack of randomization.

This weakness stems from the fact that quasi-experimental research designs do not randomly assign participants to groups, which can lead to a lack of internal validity.In experimental designs, randomization is used to ensure that participants are assigned to groups based on chance, which helps to control for confounding variables that may affect the outcome of the study.

Quasi-experimental designs, on the other hand, do not use randomization, which makes it difficult to determine whether the results of the study are due to the intervention or some other factor that was not controlled for.This lack of randomization can lead to several threats to internal validity, including selection bias, history, maturation, regression to the mean, and testing effects.

These threats can make it difficult to draw accurate conclusions from the study and can limit the generalizability of the results to other populations.Therefore, it is important for researchers to carefully consider the strengths and weaknesses of quasi-experimental research designs when planning their studies. While quasi-experimental designs can be useful in certain situations where it is not feasible or ethical to conduct a true experimental design, they may not be the best choice for all research questions.

Know more about experimental designs here:

https://brainly.com/question/28145500

#SPJ11

Other Questions
Find the inverse of the following matrix. Write entries as integers or fractions in lowest terms. If the matrix is not invertible, type "N" for all entries. -5-1021 A = -2-5 9 1 2 -4 Helppp meee I will give brailiest A whale is at the surface of the ocean to breathe. What is the whale's elevation? Which of the following equations is balanced correctly and has the correct products for the reactants RbNO3 and BeF2? Saving on real estate expenses and leveraging knowledge of many different markets are benefit ofa- Self-Managed teamsb- Virtual Teamsc- Cross-Functional Teamd- Informal Group Complete the sentence. In Ancient Greek drama, all actors were____. Find the value of x and find whether the angles or supplementary or complementary. Your grandmother always has a jar of cookies on her counter. One day while you are visiting, you eat 5 cookies from the jar. In the equation below, c is the number of cookies remaining in the jar and b is the number of cookies in the jar before your visit. 14.Existen palabras en espaol con las combinaciones [qua] y [quo]? a. s b. no 15. Cierto o Falso, La consonante [r] puede producir un sonido suave y fuerte? 16.Es posible tener combinaciones de doble consonantes en espaol? Ej. [ss], [pp], [ph] a. s b. no 17. Cuntas letras tiene el abecedario en espaol? a. 25 b. 30 c. 26 18. Cmo se llama la lnea (~) que va arriba de la consonante [] para darle sonido? a. acento b. tilde c. diresis 19.Cierto o Falso La [y] se puede usar como consonante y como vocal? Ej. yate, soy II. Clasifica las siguientes combinaciones como diptongo o hiato 20. a ___________________ 21. oe ___________________ 22. iu ____________________ 23. ee ___________________ 24. ie ____________________ III. Identifica la palabra como diptongo o hiato. 25. materialista d h 26. cartapacio (binder) d h 27. viaje d h 28. juego d h 29. aeropuerto d h 30. sobresaliente d h El SINGULAR Y PLURAL DE LOS SUSTANTIVOS Escribe el plural de las siguientes palabras: 31. italiano ____intalianos___ 32. ingls _________________ 33. lpiz _________________ 34. escritor _________________ Ben and Alex, ages 12 and 14, live with their biological parents in a middle-class neighborhood. This is an example of: ________ Price discrimination exists when a firm sells_____ goods at more than one price to_____ groups of customers. A.identical; different B.existing; distinct C.discounted; large D.different; similar lE.imited; restricted 2. What is the proper way ofwashing hands?I suppose__________ __________ is defined as pays out or distributes (usually money).A.GrantB.IncomeC.BankruptD.DisbursesPlease select the best answer from the choices providedABCD What does the best fit line estimate for the y value when x is 100 A 0.5 MHz antenna carried by an airplane flying in air over the ocean generates a plane wave that is normally incident upon the air-water interface. The amplitude of the incident electromagnetic wave is 3 (kV/m). The airplane is trying to communicate with a submarine which is submerged below the ocean surface. The submarine's receiver requires a minimum signal amplitude of 0.01 (mu V/m). Ocean water has the following material properties epsilon _r = 81 mu _r =1 sigma = 5 S/m From this information, what is the maximum depth d of the submarine for which successful communication is possible? Prove that Newton-Raphson method for solving the equation [tex]x^{k} e^{x} = 0[/tex] (where k is constant) is given by this formula: [tex]x _{n +1} = \frac{(K-1)x_n + x_n^{2} }{K+x_n}[/tex] Which dot plot represents the data in this frequency table?Number 3 4 5 7 8Frequency 3 2 4 2 3 Find the general solution to the differential equation dy xoay + 3y = x2 dx b) Find the particular solution to the differential equation dy dx = (y + 1)(3x2 1) E subject to the condition that y = 0 at x = 0 c) Find the particular solution to the differential equation dy dx = y X- subject to the condition that y = 2 at x = 1 A certain statistic b is being used to estimate a population parameter B. The expected value of b is equal to B. What property does b exhibit? Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $18 each and used a budgeted selling price of $18 per unit. Actual Budgeted Units sold 45,000 units 31,000 units Variable costs $161,000 $150,000 Fixed costs $44,000 $50,000 What is the static-budget variance of variable cost