1.41 is the income elasticity of demand for snow blowers.
The income elasticity of demand is calculated by dividing the percent change in quantity demanded by the percent change in income. Airline tickets, movies, restaurant meals, and automobiles are examples of income elastic products. As income rises, demand for income inelastic products and services rises only somewhat.
This category includes consumer essentials like toothpaste as well as'sin' products like tobacco and alcohol. The income elasticity of demand in economics refers to the responsiveness of the quantity sought for a good to changes in consumer income. It is calculated as the percentage change in quantity demanded divided by the percentage change in income.
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Which of the following procedures would not be performed in a review of financial statements of a non-issuer? Multiple Choice
Inquire about the accounting system and procedures
Perform analytical procedures to identify relationships and individual items that appear to be unusual Obtain an attorney's letter regarching litigation and unasserted claims Study the financial statements for indications that they conform to generally accepted accounting principles
Of the procedures listed, obtaining an attorney's letter regarding litigation and unasserted claims would not typically be performed in a review of financial statements of a non-issuer.
This is because non-issuers are not required to disclose legal proceedings or claims in their financial statements, unlike issuers who must disclose all material litigation and claims.
However, the other procedures listed - inquiring about the accounting system and procedures, performing analytical procedures to identify relationships.
And individual items that appear to be unusual, and studying the financial statements for indications that they conform to generally accepted accounting principles - are all important steps. in reviewing the financial statements of a non-issuer to ensure their accuracy and compliance with accounting standards.
It is crucial for an individual conducting the review to have a thorough understanding of these procedures in order to effectively assess the financial statements of a non-issuer.
A review of financial statements typically involves inquiring about the accounting system and procedures, performing analytical procedures to identify unusual relationships and individual items,
and studying the financial statements to ensure they conform to generally accepted accounting principles. Obtaining an attorney's letter is more common in an audit, which provides a higher level of assurance than a review.
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Suppose that, in a perfectly competitive market, the market equilibrium quantity is Qe = 20. We know that Total Surplus is not maximized at a quantity of Q = 30 because
1. At Q = 30 , the Producers’ Reservation Price, which represents the marginal cost of production, exceeds the Consumers’ Reservation Price, which represents the marginal cost of consumption.
2. At Q = 30, the Consumers’ Reservation Price, which represents the marginal cost of consumption, exceeds the market equilibrium price.
3. At Q = 30 , the Producers’ Reservation Price, which represents the marginal cost of production, is exceeded by the market equilibrium price.
4. At Q = 30, the Consumers’ Reservation Price, which represents the marginal cost of consumption, exceeds the Producers’ Reservation Price, which represents the marginal cost of production.
In a perfectly competitive market the market equilibrium quantity is Qe = 20. We know that Total Surplus is not maximized at a quantity of Q = 30 because At Q = 30, the Consumers’ Reservation Price, which represents the marginal cost of consumption, exceeds the Producers’ Reservation Price, which represents the marginal cost of production.The correct option is (4).
Option 1 is incorrect because it implies that the marginal cost of production exceeds the marginal cost of consumption at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 2 is incorrect because it implies that the marginal cost of consumption exceeds the market equilibrium price at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 3 is incorrect because it implies that the market equilibrium price exceeds the marginal cost of production at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 4 is correct because it implies that the marginal cost of consumption exceeds the marginal cost of production at Q = 30, which means that the total surplus will decrease if the quantity is increased from Qe = 20 to Q = 30.Therefore, the correct answer is option 4.
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In a perfectly competitive market the market equilibrium quantity is Qe = 20. We know that Total Surplus is not maximized at a quantity of Q = 30 because At Q = 30, the Consumers’ Reservation Price, which represents the marginal cost of consumption, exceeds the Producers’ Reservation Price, which represents the marginal cost of production.The correct option is (4).
Option 1 is incorrect because it implies that the marginal cost of production exceeds the marginal cost of consumption at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 2 is incorrect because it implies that the marginal cost of consumption exceeds the market equilibrium price at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 3 is incorrect because it implies that the market equilibrium price exceeds the marginal cost of production at Q = 30, which is not necessarily true in a perfectly competitive market.
Option 4 is correct because it implies that the marginal cost of consumption exceeds the marginal cost of production at Q = 30, which means that the total surplus will decrease if the quantity is increased from Qe = 20 to Q = 30.Therefore, the correct answer is option 4.
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burger king’s restaurants are independently owned, yet their managers adhere strictly to the policies laid out by the brand owner. this channel structure is called a(n):
The channel structure that Burger King follows is called a franchising model. In this model, the brand owner (Burger King) grants the right to operate its restaurants to independent owners (franchisees) who adhere strictly to the policies and guidelines set forth by the brand owner.
This allows for consistency and uniformity across all Burger King restaurants, while still giving individual owners the freedom to run their businesses as they see fit within the guidelines provided.
The channel structure described in the question is a franchise system. In a franchise system, the brand owner (in this case, Burger King) grants the right to use its trademark, products, and business methods to independent business owners (franchisees) in exchange for a fee and ongoing royalties. The franchisees operate their own businesses while adhering to the policies, procedures, and standards established by the brand owner. This allows the brand owner to expand its business without having to invest in new locations or manage the day-to-day operations of the franchises.
Franchising is a common business model used in many industries, including fast food, retail, and service businesses. Franchisors typically provide franchisees with training, ongoing support, and access to marketing and advertising materials, as well as a proven business model. In exchange, franchisees pay an initial franchise fee and ongoing royalties based on their revenue.
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Journalize in summary form the requisition of direct materials and the assignment of direct labor and the allocation of manufacturing overhead to job 423. wages are not yet paid. ( Record debits first, then credits exclude explanations from any journal entry)
To journalize in summary form the requisition of direct materials, assignment of direct labor, and allocation of manufacturing overhead to job 423, you would create the following journal entries (assuming you have specific dollar amounts for each component):
1. Requisition of direct materials:
Debit: Work in Process - Job 423 (Direct Materials Cost)
Credit: Raw Materials Inventory
2. Assignment of direct labor:
Debit: Work in Process - Job 423 (Direct Labor Cost)
Credit: Direct Labor Payable
3. Allocation of manufacturing overhead:
Debit: Work in Process - Job 423 (Manufacturing Overhead)
Credit: Manufacturing Overhead Allocated
In these journal entries, you are recording the movement of costs associated with direct materials, direct labor, and manufacturing overhead to the specific job (Job 423). The debits increase the cost of work in process for that job, while the credits decrease the balances in raw materials inventory, increase the direct labor payable, and allocate the manufacturing overhead, respectively.
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what single amount at the end of the fifth year is equivalent to a uniform annual series of $3,000 per year for 10 years if the interest rate is 9om pounded annually?
The single amount at the end of the fifth year that is equivalent to a uniform annual series of $3,000 per year for 10 years at an interest rate of 9% compounded annually is $14,000.
To solve this problem, we can use the formula for the present value of an annuity: PV = C × [(1 - (1 + r)^-n) / r], where PV is the present value, C is the annual payment, r is the interest rate, and n is the number of payments.
In this case, we have an annual payment of $3,000 for 10 years, so C = $3,000 and n = 10. The interest rate is 9% compounded annually, so r = 0.09.
Using the formula, we can find the present value of the annuity to be $22,150.45.
Now we need to find the single amount that is equivalent to this annuity after 5 years. To do this, we can use the formula for the future value of a single amount: FV = PV × (1 + r)^n. In this case, we want to find the present value (PV) that will grow to $22,150.45 after 5 years. So, n = 5 and FV = $22,150.45.
Solving for PV, we get:
PV = FV / (1 + r)^n
PV = $22,150.45 / (1 + 0.09)^5
PV = $14,000
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Facial expressions are among the most reliable indicators of whether a negotiator is lying.
A. True
B. False
The given statement is false because facial expressions can provide some cues to a negotiator's emotional state, research has shown that they are not necessarily reliable indicators of deception. The correct option is B.
In fact, skilled liars may be able to control their facial expressions to appear genuine, while truthful people may exhibit nervousness or anxiety that could be misinterpreted as signs of deception.
Therefore, relying solely on facial expressions to determine if a negotiator is lying is not a reliable approach, and it is important to consider other factors, such as verbal cues and situational context, when assessing honesty in negotiations.
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When break-even units are 5000, and fixed costs are $100,000, what is the per unit contribution margin?
a. $100
b. $20
c. $50
d. $200
The per unit contribution margin is $200. The correct option is d. 200.
To calculate the per unit contribution margin, we first need to understand what it represents. The contribution margin is the amount of money left over after deducting variable costs from revenue, and it is used to cover fixed costs and generate profits. The per unit contribution margin is simply the contribution margin per unit sold.
In this case, we are given that the break-even units are 5000, which means that the total revenue generated from selling 5000 units is equal to the total costs (fixed and variable). We also know that the fixed costs are $100,000.
To calculate the per unit contribution margin, we can use the formula:
Per Unit Contribution Margin = (Total Revenue - Total Variable Costs) / Number of Units
Since the break-even point occurs when revenue equals total costs, we can substitute in the following values:
Total Revenue = Total Costs
Total Revenue = Fixed Costs + Total Variable Costs
Total Revenue = $100,000 + Total Variable Costs
We also know that the number of units at the break-even point is 5000, so we can rewrite the formula as:
Per Unit Contribution Margin = ($100,000 + Total Variable Costs) / 5000
Now we just need to solve for Total Variable Costs. We can do this by subtracting the fixed costs from the total costs:
Total Costs = Fixed Costs + Total Variable Costs
Total Costs - Fixed Costs = Total Variable Costs
$100,000 = Total Variable Costs
Substituting this back into the formula, we get:
Per Unit Contribution Margin = ($100,000 + $100,000) / 5000
Per Unit Contribution Margin = $200
Therefore, the correct answer is d. $200.
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Zhao Co. has fixed costs of $286,200. Its single product sells for $163 per unit, and variable costs are $110 per unit. If the company expects sales of 10,000 units, compute its margin of safety in dollars and as a percent of expected sales. Dollars Percent Margin of safety _____ _____ %
The margin of safety for Zhao Co. in dollars and as a percent of expected sales is $749,800 and 46% respectively.
To compute Zhao Co.'s margin of safety in dollars and as a percent of expected sales, we'll need to follow these steps:1. Calculate the contribution margin per unit:
Contribution margin per unit = Selling price per unit - Variable cost per unit
Contribution margin per unit = $163 - $110 = $53 per unit
2. Calculate the break-even point in units:
Break-even point in units = Fixed costs / Contribution margin per unit
Break-even point in units = $286,200 / $53 = 5,400 units
3. Calculate the margin of safety in units:
Margin of safety in units = Expected sales in units - Break-even point in units
Margin of safety in units = 10,000 - 5,400 = 4,600 units
4. Calculate the margin of safety in dollars:
Margin of safety in dollars = Margin of safety in units * Selling price per unit
Margin of safety in dollars = 4,600 * $163 = $749,800
5. Calculate the margin of safety as a percent of expected sales:
Margin of safety as a percent of expected sales = (Margin of safety in dollars / (Expected sales in units * Selling price per unit)) * 100%
Margin of safety as a percent of expected sales = ($749,800 / ($163 * 10,000)) * 100% = 46%
So, the margin of safety for Zhao Co. is $749,800 in dollars and 46% as a percent of expected sales.
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Fennick Company reports net income of $98,750 in 2022. However, ending inventory was understated by $6,690.. What is the correct net income for 2022? The correct net income $______
The correct net income for Fennick Company in 2022 is $105,440.
To find the correct net income for Fennick Company in 2022, we need to adjust the reported net income to account for the understated ending inventory.
Step 1: Identify the reported net income and understated ending inventory.Step 3: Calculate the correct net income.
Correct net income = $105,440
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3. what categories of professionals are permitted membership on the medical staff?
The categories of professionals are permitted membership on the medical staff are: Physicians, Nurse Practitioners, Physician Assistants, Clinical Psychologists, Dentists, Dietitians, Audiologists, Optometrists.
What is medical staff?Medical staff are healthcare professionals who provide direct or indirect patient care services. They may be employed in hospitals, physician's offices, nursing homes, home healthcare, and other settings. Medical staff includes nurses, physicians, pharmacists, therapists, dietitians, technicians, and others. They are responsible for assessing, diagnosing, and treating patients. Medical staff also collaborate with other healthcare professionals to develop treatment plans and coordinate care. They are responsible for communicating with patients, families, and other medical professionals to ensure that patients receive the best care possible. Medical staff must be knowledgeable and up-to-date on the latest medical technology and treatments. They must be compassionate and have excellent communication and interpersonal skills. Medical staff are essential members of any healthcare team and play a crucial role in the health and well-being of patients.
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Which statement regarding apps is false?
A user can browse for specific apps by name or category
Apps can enhance user experience
Many apps come with a fee
Apps are associated with QuickBooks
The statement regarding apps is false is the following Apps are associated with QuickBooks.
What is QuickBook?A quickbook is a software that is used to record the accounting transactions of a company, this software is widely used in companies accounts department.
Apps are not associated with Quickbooks as apps are developed individually and these are not inter-related with the software quickbook.
There are many different types of apps, also there are different types of accounting software, the most widely used software includes oracle, SAP and Quickbooks. All the three software are used in companies and the software can be used by not only Finance department but also other departments of a company.
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According to survey data, which is the least-often cited dividend policy consideration? Firms want to avoid dividend reductions. O Firms would prefer to raise new funds rather than reduce dividends. Firms desire a smooth dividend policy. O Firms avoid dividend policy reversals.
The least-often cited dividend policy consideration, according to survey data, is firms' desire to avoid dividend reductions.
According to research studies, firms prioritize maintaining a stable and predictable dividend policy, avoiding dividend cuts and reversals to prevent negative signals to shareholders and the market. Additionally, firms tend to prefer raising new funds through external financing rather than reducing dividend payments, as dividend reductions can lead to a decrease in stock price and a loss of investor confidence. Therefore, while firms aim to avoid negative impacts on their reputation and shareholder value through dividend policy decisions, the desire to avoid dividend reductions is not typically cited as a key consideration in the decision-making process.
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Assume the supply function for good X can be written as Qs = -100 + 27Px - 5Py - 1.8W, where px=the price of x, Py=the price of good y, and w = wage index for workers in industry x. According to this equation: 1. each one unit increase in price causes quantity supplied to increase by 73 units. 2. x and y are complements. 3. x and y are substitutes 4. decrease in wages would cause a decrease in the quantity supplied at each price.
The correct answer is 4. A decrease in wages would cause a decrease in the quantity supplied at each price.
The supply function for good X can be written as:
Qs = -100 + 27Px - 5Py - 1.8W
where Qs is the quantity supplied of good X, Px is the price of good X, Py is the price of good Y, and W is the wage index for workers in industry X.
False: The coefficient of Px in the supply function is 27, which means that each one unit increase in Px causes the quantity supplied to increase by 27 units, not 73 units.
False: We cannot determine whether X and Y are complements or substitutes from this equation, as the coefficient of Py could be positive or negative depending on the specific values.
False: We cannot determine whether X and Y are complements or substitutes from this equation, as explained above.
True: The coefficient of W in the supply function is negative (-1.8), which means that a decrease in wages (i.e., a decrease in W) would cause an increase in the quantity supplied at each price, as the cost of production would decrease.
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a distribution that is more sharply peaked (i.e., thinner tails) than a normal distribution has an excess kurtosis greater than zero (0). (True or False)
True. A distribution with thinner tails than a normal distribution is said to have higher peakedness or a higher degree of kurtosis.
The excess kurtosis measures the degree to which the tails of a distribution differ from those of a normal distribution.
A distribution with a more sharply peaked shape and thinner tails than a normal distribution is considered leptokurtic.
Leptokurtic distributions have excess kurtosis greater than zero (0), which means they have more data concentrated around the mean and fewer extreme values than a normal distribution.
Therefore, a distribution with more sharply peaked characteristics than a normal distribution will have an excess kurtosis greater than zero.
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A prior period adjustment should be reflected, net of applicable income taxes, in the financial statements of a business entity in the:
a. retained earnings statement after net income but before dividends b. retained earnings statement as an adjustment of the opening balance c. income statement after income from continuing operations d. income statement as part of income from continuing operations
A prior period adjustment is best reflected in the retained earnings statement as an adjustment of the opening balance, ensuring the accuracy and consistency of the financial statements. A prior period adjustment is a correction of an error made in a prior accounting period that affects the beginning balance of retained earnings.
This adjustment is made to ensure the accuracy and completeness of financial statements. The adjustment is reflected net of applicable income taxes to provide a true and fair view of the financial position of the business entity.
The retained earnings statement is a financial statement that shows the changes in retained earnings during a period. It includes the beginning balance of retained earnings, net income, dividends paid, and any prior period adjustments.
The adjustment is reflected as an adjustment of the opening balance in the retained earnings statement to show the impact of the error correction on the financial position of the business entity.
In conclusion, a prior period adjustment should be reflected, net of applicable income taxes, in the retained earnings statement as an adjustment of the opening balance to ensure the accuracy and completeness of financial statements.
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An organization with a product innovation competitive advantage would likely seek a core workforce of research and development employees who have which quality?a. conservative valuesb. a high aversion to taking risksc. a shorter-term focusd. a low tolerance for ambiguitye.an entrepreneurial mindset
An organization with a product innovation competitive advantage would likely seek a core workforce of research and development employees who have an entrepreneurial mindset.
This is because an entrepreneurial mindset is characterized by creativity, innovation, risk-taking, and a long-term focus, all of which are crucial for developing and implementing new and innovative products. Such employees are more likely to be willing to take calculated risks and explore new ideas, which can ultimately lead to a competitive advantage for the organization.
Hi! An organization with a product innovation competitive advantage would likely seek a core workforce of research and development employees who have an entrepreneurial mindset. This is because employees with entrepreneurial qualities are more likely to be innovative, take calculated risks, and adapt to ambiguity, all of which are crucial for maintaining a competitive advantage through product innovation.
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Warren Corporation is interested in a three-year, 11% annual coupon bond. A broker quotes a price of $930.35. What is the yield to Maturity? о 13% 14% o 10% 011% 12%
The yield to maturity is approximately 12%.
The yield to maturity is the rate of return anticipated on a bond if it is held until maturity. It takes into account the current market price, face value, coupon rate, and time to maturity.
To calculate the yield to maturity of the Warren Corporation bond, we can use the bond pricing formula and solve for the yield rate that makes the present value of all future cash flows (coupons and face value) equal to the current market price of $930.35. Using this approach, the yield to maturity for this bond is approximately 12%.
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the table shows te amount, in millions of dollars, of balances of various current accout components. Use the information in the table to calculate the current account balance for Year 5:
Goods Services Income Payments Unilateral
Transfers
Current
Account Balance
Year 1 –$13975 $5148 $2894 –$3363 Year 5 $7908 $6957 $3734 −$4638 $________million
The table provided shows the amounts in millions of dollars for various current account components. The current account balance for Year 5 is $13961 million. To calculate the current account balance for Year 5, we need to use the formula:
Current Account Balance = Goods + Services + Income Payments + Unilateral Transfers
Plugging in the values from the table, we get:
Current Account Balance = $7908 + $6957 + $3734 - $4638
Current Account Balance = $13961 million
Therefore, the current account balance for Year 5 is $13961 million.
The current account is an important component of a country's balance of payments. It reflects the net flow of goods, services, and transfers in and out of a country. A positive current account balance indicates that a country is exporting more goods and services than it is importing, while a negative balance suggests the opposite.
In the case of Year 5, the current account balance is negative, indicating that the country is importing more goods and services than it is exporting. This could be due to a variety of factors such as increased demand for foreign goods, lower competitiveness of domestic industries, or changes in exchange rates.
It is important for countries to monitor their current account balances to ensure that they are maintaining a sustainable balance of trade.
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Tanisha, the owner of a local fitness gym, has asked you to explain the five forces model of industry attractiveness to her. What would you advise her to eliminate from her consideration of the five forces in the fitness industry?Multiple Choicecompetitive pressures from the relative bargaining power of buyers of gym membershipscompetitive pressures from the relative bargaining power of suppliers to the fitness industrycompetitive pressures from changes in local and state laws governing employment practices and minimum wagescompetitive pressures from the threat of new rivals entering the fitness industrycompetitive pressures from the providers of at-home fitness workouts and equipment
The five forces model of industry attractiveness is an important concept for understanding the competitive pressures in the fitness industry. However, among the options provided, it is advisable to eliminate "competitive pressures from changes in local and state laws governing employment practices and minimum wages" i.e. option C from your consideration of the five forces in the fitness industry.
Here is a brief explanation of the five forces model for your understanding:
1. Competitive pressures from the relative bargaining power of buyers of gym memberships: This refers to the influence that customers have on pricing and service offerings in the industry.
2. Competitive pressures from the relative bargaining power of suppliers to the fitness industry: This involves the influence that suppliers, such as equipment manufacturers and service providers, have on the fitness industry's costs and resources.
3. Competitive pressures from the threat of new rivals entering the fitness industry: This refers to the potential for new competitors to enter the market and challenge existing gyms and fitness centers.
4. Competitive pressures from the providers of at-home fitness workouts and equipment: This force considers the competition from alternative fitness solutions, such as home workout programs and equipment, which may affect the demand for gym memberships.
The eliminated option, "competitive pressures from changes in local and state laws governing employment practices and minimum wages," is not part of the five forces model, as it relates more to the overall business environment rather than competitive pressures within the fitness industry. Therefore, option c is the right one.
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Friendly Ice Cream Corporation operates and franchises full-service restaurants from Maine to South Carolina. The company also manufactures the ice cream that is served in its restaurants and sold in supermarkets and other retail stores. Indicate whether each of the following costs that Friendly’s might incur would be considered a product or a period cost. If the cost is a product cost, classify it as direct materials, direct labor, indirect materials, indirect labor, or other manufacturing overhead.
The cost of milk used in the manufacturing of ice cream Friendly Ice Cream Corporation operates
and fProduct Cost-Direct materials/ Product Cost-Indirect labor/ Product Cost-Other manufacturing overhead/ Product Cost-Indirect materials/ Product Cost-Direct labor/ Period Cost
b. Salaries paid to the graphic artists responsible for the design of the corporate website Friendly Ice Cream Corporation operates
and fProduct Cost-Indirect materials/ Product Cost-Direct labor/ Product Cost-Other manufacturing overhead/ Period Cost/ Product Cost-Direct materials / Product Cost-Indirect labor
c. Salary paid to the shift supervisor in the ice cream plant Friendly Ice Cream Corporation operates
and fProduct Cost-Direct labor/ Period Cost/ Product Cost-Direct materials/ Product Cost-Other manufacturing overhead/ Product Cost-Indirect labor/ Product Cost-Indirect materials
d. Wages paid to production line workers in the ice cream plant Friendly Ice Cream Corporation operates
and fProduct Cost-Other manufacturing overhead/ Product Cost-Indirect materials/ Product Cost-Direct labor/ Period Cost/ Product Cost-Direct materials/ Product Cost-Indirect labor
e. Wages paid to the forklift drivers who load the filled ice cream cartons into storage freezers awaiting delivery to customers Friendly Ice Cream Corporation operates
and fProduct Cost-Indirect labor / Product Cost-Direct materials/ Product Cost-Indirect materials/ Product Cost-Direct labor/ Product Cost-Other manufacturing overhead/ Period Cost
f. The cost of empty ice cream cartons Friendly Ice Cream Corporation operates
and fProduct Cost-Indirect labor/ Period Cost/ Product Cost-Indirect materials/ Product Cost-Direct labor/ Product Cost-Other manufacturing overhead/ Product Cost-Direct materials
g. The cost of hairnets worn by production line workers Friendly Ice Cream Corporation operates
and fProduct Cost-Indirect materials/ Product Cost-Direct materials/ Product Cost-Direct labor/ Product Cost-Other manufacturing overhead/ Product Cost-Indirect labor/ Period Cost
h. The cost of glue used to seal filled ice cream cartons Friendly Ice Cream Corporation operates
and fPeriod Cost/ Product Cost-Indirect materials/ Product Cost-Direct materials/ Product Cost-Indirect labor/ Product Cost-Direct labor/ Product Cost-Other manufacturing overhead
i. The cost of toner for the sales department’s laser printer Friendly Ice Cream Corporation operates
and fProduct Cost-Indirect materials/ Product Cost-Other manufacturing overhead/ Product Cost-Direct labor/ Period Cost/ Product Cost-Direct materials/ Product Cost-Indirect labor
j. The cost of life insurance policies for top corporate executives Friendly Ice Cream Corporation operates
and fProduct Cost-Direct materials/ Product Cost-Indirect materials/ Period Cost/ Product Cost-Direct labor/ Product Cost-Indirect labor/ Product Cost-Other manufacturing overhead
a. Product Cost-Direct materials b. Period Cost c. Product Cost-Direct labor d. Product Cost-Direct labor e. Product Cost-Indirect labor f. Product Cost-Indirect materials g. Product Cost-Indirect materials h. Product Cost-Indirect materials i. Period Cost j. Period Cost
a. The cost of milk used in the manufacturing of ice cream at Friendly Ice Cream Corporation is a Product Cost-Direct Materials.
b. Salaries paid to the graphic artists responsible for the design of the corporate website at Friendly Ice Cream Corporation are considered Period Costs.
c. Salary paid to the shift supervisor in the ice cream plant at Friendly Ice Cream Corporation is a Product Cost-Indirect Labor.
d. Wages paid to production line workers in the ice cream plant at Friendly Ice Cream Corporation are classified as Product Cost-Direct Labor.
e. Wages paid to the forklift drivers who load the filled ice cream cartons into storage freezers at Friendly Ice Cream Corporation are considered Product Cost-Indirect Labor.
f. The cost of empty ice cream cartons at Friendly Ice Cream Corporation is classified as Product Cost-Direct Materials.
g. The cost of hairnets worn by production line workers at Friendly Ice Cream Corporation is considered Product Cost-Indirect Materials.
h. The cost of glue used to seal filled ice cream cartons at Friendly Ice Cream Corporation falls under Product Cost-Indirect Materials.
i. The cost of toner for the sales department's laser printer at Friendly Ice Cream Corporation is considered a Period Cost.
j. The cost of life insurance policies for top corporate executives at Friendly Ice Cream Corporation is classified as a Period Cost.
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a. Product Cost-Direct materials b. Period Cost c. Product Cost-Direct labor d. Product Cost-Direct labor e. Product Cost-Indirect labor f. Product Cost-Indirect materials g. Product Cost-Indirect materials h. Product Cost-Indirect materials i. Period Cost j. Period Cost
a. The cost of milk used in the manufacturing of ice cream at Friendly Ice Cream Corporation is a Product Cost-Direct Materials.
b. Salaries paid to the graphic artists responsible for the design of the corporate website at Friendly Ice Cream Corporation are considered Period Costs.
c. Salary paid to the shift supervisor in the ice cream plant at Friendly Ice Cream Corporation is a Product Cost-Indirect Labor.
d. Wages paid to production line workers in the ice cream plant at Friendly Ice Cream Corporation are classified as Product Cost-Direct Labor.
e. Wages paid to the forklift drivers who load the filled ice cream cartons into storage freezers at Friendly Ice Cream Corporation are considered Product Cost-Indirect Labor.
f. The cost of empty ice cream cartons at Friendly Ice Cream Corporation is classified as Product Cost-Direct Materials.
g. The cost of hairnets worn by production line workers at Friendly Ice Cream Corporation is considered Product Cost-Indirect Materials.
h. The cost of glue used to seal filled ice cream cartons at Friendly Ice Cream Corporation falls under Product Cost-Indirect Materials.
i. The cost of toner for the sales department's laser printer at Friendly Ice Cream Corporation is considered a Period Cost.
j. The cost of life insurance policies for top corporate executives at Friendly Ice Cream Corporation is classified as a Period Cost.
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on january 1, 2020, corgan company acquired 80 percent of the outstanding voting stock of smashing, inc., for a total of $980,000 in cash and other consideration. at the acquisition date, smashing had common stock of $700,000, retained earnings of $250,000, and a noncontrolling interest fair value of $245,000. corgan attributed the excess of fair value over smashing's book value to various covenants with a 20-year remaining life. corgan uses the equity method to account for its investment in smashing.
Corgan's acquisition of 80% of Smashing's outstanding voting stock for $980,000 in cash and other consideration has resulted in the recognition of goodwill in Corgan's financial statements.
Based on the given information, it is clear that Corgan Company has acquired 80% of the outstanding voting stock of Smashing, Inc. for a total of $980,000 in cash and other consideration on January 1, 2020. At the acquisition date, Smashing had common stock of $700,000, retained earnings of $250,000, and a noncontrolling interest fair value of $245,000.
Since Corgan has acquired a controlling interest in Smashing, it is required to consolidate its financial statements. However, Corgan uses the equity method to account for its investment in Smashing, which means that it recognizes its share of Smashing's net income or loss in its own financial statements.
Corgan attributed the excess of fair value over Smashing's book value to various covenants with a 20-year remaining life. This excess of fair value is recognized as goodwill in Corgan's financial statements. Goodwill is an intangible asset that represents the excess of the purchase price over the fair value of the net assets acquired. It is recorded as an asset on the balance sheet and is subject to impairment testing.
In summary, Corgan uses the equity method to account for its investment in Smashing, which means that it recognizes its share of Smashing's net income or loss in its own financial statements.
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how might construction industry job losses affect incomes in the clothing and travel industries?
Construction industry job losses can affect incomes in the clothing and travel industries by reducing consumer spending. When people lose their jobs in the construction sector, they may have less disposable income to spend on clothing and travel, leading to decreased demand and potentially lower revenues for businesses in these industries. This can result in further job losses and a negative impact on overall economic growth.
The construction industry is a significant contributor to the economy and job market. If there are job losses in the construction industry, it can have a ripple effect on other industries. One way that construction industry job losses may affect incomes in the clothing and travel industries is through decreased consumer spending. With fewer people employed in construction, there may be less money circulating in the economy, and people may be less likely to spend money on non-essential items such as clothing and travel. As a result, the clothing and travel industries may experience a decline in sales and revenue, leading to reduced incomes for those who work in those industries. In short, the interconnectedness of different industries means that job losses in one area can have a wider impact on the economy as a whole.
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Construction industry job losses can affect incomes in the clothing and travel industries by reducing consumer spending. When people lose their jobs in the construction sector, they may have less disposable income to spend on clothing and travel, leading to decreased demand and potentially lower revenues for businesses in these industries. This can result in further job losses and a negative impact on overall economic growth.
The construction industry is a significant contributor to the economy and job market. If there are job losses in the construction industry, it can have a ripple effect on other industries. One way that construction industry job losses may affect incomes in the clothing and travel industries is through decreased consumer spending. With fewer people employed in construction, there may be less money circulating in the economy, and people may be less likely to spend money on non-essential items such as clothing and travel. As a result, the clothing and travel industries may experience a decline in sales and revenue, leading to reduced incomes for those who work in those industries. In short, the interconnectedness of different industries means that job losses in one area can have a wider impact on the economy as a whole.
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Melanie and Rebekah Inc. bonds have a face value of $1,000 and are currently quoted at 92.725. The coupon rate for these bonds is 8 percent. What is the current yield on these bonds?
a) 8.63%
b) 8.00%
c) 9.27%
d) 8.94%
e) 9.14%
The current yield on these bonds is 8.63%. The correct option is a.
The current yield is the annual interest payment divided by the current market price of the bond.
First, we need to calculate the annual interest payment:
Coupon rate = 8%
Face value = $1,000
Annual interest payment = Coupon rate x Face value = 8% x $1,000 = $80
Next, we need to calculate the current market price of the bond based on the quote of 92.725%:
Current market price = Quote x Face value = 0.92725 x $1,000 = $927.25
Now we can calculate the current yield:
Current yield = Annual interest payment / Current market price = $80 / $927.25 = 0.0863 = 8.63%
Therefore, option (a) 8.63% is correct.
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identify three business or sociocultural considerations in translating your marketing plan for use in a foreign market.
The three business or sociocultural considerations in translating your marketing plan for use in a foreign market are language and cultural differences, legal and regulatory framework and market saturation and competitors
Language and Cultural Differences: Language barriers and cultural differences can have a significant impact on how a marketing message is perceived in a foreign market. This means that companies must ensure that their message is translated accurately and effectively, taking into account the cultural nuances and sensitivities of the local population.
Legal and Regulatory Framework: Different countries have different legal and regulatory frameworks, which may impact the marketing tactics that can be used. For example, some countries may have strict laws around advertising, promotions, or product labeling that need to be taken into account.
Market Saturation and Competitors: The level of competition and market saturation in a foreign market should be carefully considered. Understanding the existing players, their positioning, and how they communicate with consumers can help companies tailor their marketing messages to stand out in the market.
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The following data are from an independent-measures experiment comparing two treatment conditions.Treatment 1 Treatment 24 195 1112 1810 1010 127 14a) Does the data indicate a significant difference between the treatments at the 0.05 level of significance?b) Compute R^2 to measure the size of the treatment effect.c) Explain how the outcome of the hypothesis test and the measure of effect size would appear in a research report?
The value of the firm is 68.51 million dollars and the present value of the horizon value is 72 million dollars.
The value of a firm refers to the estimated worth of the company, based on its assets, liabilities, and future earnings potential. It is typically calculated by discounting the company's future cash flows to their present value using a discount rate, such as the weighted average cost of capital (WACC). The resulting value represents the amount that an investor or buyer would be willing to pay for the company.
To calculate the value of the firm, we need to use the formula for the present value of the cash flows.
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hildegard bought a bond that will pay her $45 each year in interest plus $1000 at maturity. the bond was quoted at $1,008.45, and she paid a dealer $1,010.34 for the bond. what ist he $1,010.34 calle?
The $1,010.34 that Hildegard paid for the bond is called the "purchase price." This includes the bond's quoted price of $1,008.45 and any additional fees or charges from the dealer.
The purchase price is the sum of money used to buy a certain item or piece of property. The agreed-upon price is the amount at which the ownership of the asset or piece of property is transferred between the buyer and the seller. The asset's worth, market circumstances, the seller's desperation to sell, and the buyer's negotiating prowess can all have an impact on the acquisition price. In several financial transactions, including sales of real estate, purchases of stocks, and purchases of businesses, the purchase price is a crucial factor.
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discussion questions
a. If some shareholders complained that you and your co-managers have not been spending enough money on social responsibility and corporate citizenship, what would you tell them?
b. In the event your athletic footwear company had the opportunity to diversify into other products or businesses of your choosing, would you opt to pursue related or unrelated diversification or both? Explain why.
a. We are always open to exploring opportunities to make a positive impact in the communities we operate in and will take these concerns into consideration when making future business decisions.
b. Any decision to diversify would be based on careful analysis of market trends, customer demand, and potential profitability.
a. If shareholders complained about our company's lack of spending on social responsibility and corporate citizenship, I would explain to them that our decisions regarding expenditures are always made in consideration of the best interests of the company and its shareholders. While we understand the importance of social responsibility, our first priority is to ensure the long-term success and profitability of the business. That being said, we are always open to exploring opportunities to make a positive impact in the communities we operate in and will take these concerns into consideration when making future business decisions.
b. If given the opportunity to diversify our athletic footwear company, I would likely pursue related diversification. This means expanding into products or services that are related to our current offerings, such as athletic apparel or accessories. This approach would allow us to leverage our existing expertise and resources to expand our product line and increase our market share. However, I would not rule out unrelated diversification entirely, as long as the new products or services aligned with our company's overall mission and values. Ultimately, any decision to diversify would be based on careful analysis of market trends, customer demand, and potential profitability.
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(a) what entry would swifty make to record the sale of the machine for $31,720 cash? (b) what entry would swifty make to record the sale of the machine for $21,720 cash?
If the cash received is greater than the original cost, it is a gain. If the cash received is less than the original cost, it is a loss.
For (a), Swifty would make the following entry to record the sale of the machine for $31,720 cash: Cash $31,720
Machine $20,000
Gain on sale of machine $11,720
The cash account is debited for the amount received in cash from the sale. The machine account is credited for its original cost of $20,000. Lastly, the gain on sale of machine account is credited for the difference between the cash received and the machine's original cost.
For (b), Swifty would make the following entry to record the sale of the machine for $21,720 cash: Cash $21,720
Machine $20,000
Loss on sale of machine $1,720
The cash account is debited for the amount received in cash from the sale. The machine account is credited for its original cost of $20,000. Lastly, the loss on sale of machine account is credited for the difference between the cash received and the machine's original cost.
It is important to note that the gain or loss on the sale of an asset is calculated by subtracting the asset's original cost from the amount received in cash from the sale.
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Tangshan Mining has common stock at par of $200,000, paid in capital in excess of par of $400,000, and retained earnings of $280,000. In states where the firm’s legal capital is defined as the par value of common stock, the firm could pay out ________ in cash dividends without impairing its capital. a. $200,000 b. $880,000 c. $600,000 d. $680,000
The maximum amount Tangshan Mining could pay out in cash dividends without impairing its capital would be equal to its retained earnings of $280,000. Therefore, the answer is a. $200,000.
In states where legal capital is defined as the par value of common stock, a firm cannot pay out dividends that would reduce its legal capital. Therefore, the maximum amount Tangshan Mining could pay out in cash dividends without impairing its capital would be equal to its retained earnings of $280,000. Therefore, the answer is a. $200,000.
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The maximum amount of cash dividends that can be paid out without impairing the firm's legal capital is $200,000. Option A is the correct answer.
Tangshan Mining has common stock at par of $200,000, paid-in capital in excess of par of $400,000, and retained earnings of $280,000. To calculate the amount of cash dividends that can be paid out without impairing the firm's legal capital, we need to consider the par value of common stock, which is $200,000. Therefore, the maximum amount of cash dividends that can be paid out without impairing the firm's legal capital is $200,000. Option A is the correct answer.
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An economy is operating near full employment and the government cuts both spending and taxes by $500. In this situation, the RGDP will decrease by:
a) exactly $500
b) less than $500
c) more than $500
The correct answer is b) less than $500. When the government cuts spending and taxes by $500, it reduces the overall demand in the economy.
As a result, businesses will produce less and employ fewer workers, causing a decrease in RGDP. However, the decrease will not be exactly $500 because there will be some multiplier effect as the reduced spending and taxes will also affect consumer spending and investment. Therefore, the decrease in RGDP will be less than $500.The decrease in spending leads to lower demand, and the reduction in taxes may not entirely offset this effect. Consequently, the overall impact on the economy is greater than the initial cut, leading to a larger decrease in RGDP.
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