Answer: See explanation
Explanation:
a. Prepare a CVP income statement that shows both total and per unit amounts.
CVP INCOME STATEMENT
Per unit. Total
Sales (500 units). 400. 200,000
Variable expense 280 140,000
Contribution margin. 120 60,000
Fixed expense. 48,000
Net operating Income. 12,000
b. Compute Norton's breakeven in units.
Breakeven point = 48000 / 120 = 400
c. Prepare a CVP income statement for the break-even point that shows both total and per unit amounts.
CVP income statement for the break-even point
Per unit. Total
Sales (400 units). 400. 160,000
Variable expense 280 112,000
Contribution margin. 120 48000
Fixed expense. 48,000
Net operating Income. 0
Jackson is preparing for his hearing before the Federal Communications Commission (FCC) involving a complaint that was filed against him by the FCC regarding the interruption of radio frequency. The order to "cease and desist" using the radio frequency has had a detrimental impact on his business.
Can Jackson request that the matter be settled, even if a hearing date has been scheduled?
Yes, Jackson can still request that the matter be settled outside of the adjudication process.
No, once the matter has been scheduled for a hearing, the matter cannot be settled.
Answer:
Yes, Jackson can still request that the matter be settled outside of the adjudication process.
Explanation:
If the Federal Communications Commission (FCC) agrees with Jackson that the legal matter be settled outside of the adjudication process, then Jackson can have his way. Adjudication refers to the final judgment or pronouncement in a case. This final judgment usually determines the course of action that the FCC can take regarding the interruption of radio frequency by Jackson. But if it seems that Jackson's request for the out-of-court settlement is just an abuse of process, aimed at occasioning some delay, then it behooves the FCC to disagree with his request and proceed with the adjudication process. Each matter should be based on its merits and the facts of the case.
Jostens Co. had 200,000 shares of common stock, 20,000 shares of convertible preferred stock, and $1,000,000 of 10% bonds outstanding during 2017. The preferred stock is convertible into 20,000 shares of common stock. During 2017, Jostens paid endives of $1.20 per share on its common stock and $3.00 per share on its preferred stock. Each $1,000 bond is convertible into 30 shares of common stock. The net income for the year ended December 31,2017 was $80,000. Assume the income tax rate was 30%. Diluted earnings per share of 2017 (rounded to the nearest penny) are: Select one:
a. $3.64
b. $3.72
c. $3.36
d. $3.48
e. $3.22
Answer:
$3.46 per share
Explanation:
The computation of the diluted earning per share is shown below:
But before that the earning per share is
= ($800,000 - (20,000 shares × 3)) ÷ (200,000 shares)
= $3.70 per share
The diluted earning per share is
= ($800,000 - $60,000 + $60,000+ (1,000,000 × 10% ) × (1- 0.30)) ÷ (250,000 shares)
= $865,000 ÷ 250,000 shares
= $3.46 per share
This is the answer but the same is not provided in the given options
. 21 Century Skills You will employ online tools for research
Directions
Read the instructions for this self.checked activity Type in your response to each question, and check your armer
a brief evaluation of your work
Activity
Conduct an online research on any consumer services industry to determine the competitive nature of the indu
global. Also analyze the role of the economic system that the industry operates in and the local and internationa
industry. Write an essay of about 500 words on your findings,
B
1
U
X
Font Sizes
A
Answer:
(Answer may vary but should include some of these points.)
Mi familia es muy unida. Nos juntamos los fines de semana a almorzar en la casa de mi abuela. Mi abuela nos quiere mucho y nos prepara postres muy ricos. Mis padres son muy independientes. Mi madre trabaja y mi padre también. Mi hermano estudia en la universidad y tiene una novia desde hace cinco años. Se quieren casar en noviembre. Mis abuelos están muy felices porque quieren ver crecer a los hijos de sus nietos. Me gusta mi familia porque somos todos muy unidos.
Explanation:
Low interest rates result in:
a. Facilitating a greater supply of money for borrowers
b. Reducing the cost of financing the nfedral budget deficit
c. Encouraging a higher rate of savings
d. Bringing more investment avenues
E. Improve the standard kof living
Answer:
a. Facilitating a greater supply of money for borrowers
Explanation:
Interest rates represent the cost of borrowing money. Low interest implies a reduced cost of borrowing money. Households and firms will be encouraged to borrow more when interest rates are low.
Increased borrowing results in an increase in consumer spending and investments. The amount of money supply in the economy increases as individuals and businesses borrow.
Paulson Manufacturing Company uses the perpetual inventory system to account for its manufacturing inventories. The following are Paulson's transactions during July 2016
July 5 Received material costing $1,000 from a supplier. The material was purchased on account.
9 Requisitioned $3,000 of material for use in the factory, consisting of $2,500 of direct material and $500 of indirect material.
11 Recorded the factory payroll: $6,750 of direct labor and $750 of indirect labor.
17 Incurred various overhead costs totaling $7,000. (Credit Accounts Payable.)
20 Applied $10,000 of manufacturing overhead to the products being manufactured.
23 Completed product costing $8,000 and moved it to the warehouse.
26 Sold goods with a product cost of $1,500 on account for $2,500.
Required:
Record the transactions listed above in general journal form
Answer:
Paulson Manufacturing Company
General Journal
Date Accounts Titles Debit Credit
July 5 Raw materials inventory $1,000
Accounts payable $1,000
To record the purchase of materials on account.
July 9 Work-in-Process $2,500
Manufacturing overhead 500
Raw materials inventory $3,000
To record the requisitioning of materials.
July 11 Work-in-Process $6,750
Manufacturing overhead 750
Factory Wages $7,500
To record the factory payroll.
July 17 Manufacturing overhead $7,000
Accounts payable $7,000
To record various overhead costs incurred on account.
July 20 Work-in-Process $10,000
Manufacturing overhead $10,000
To record the application of overhead to products.
July 23 Finished Goods $8,000
Work-in-Process $8,000
To record the completion of production.
July 26 Cost of goods sold $1,500
Finished Goods $1,500
To record the cost of goods sold.
July 26 Accounts Receivable $2,500
Sales Revenue $2,500
To record the sale of goods on account
Explanation:
The general journal is a multi-purpose journal. It is used to record business transactions as they occur daily. It is the first record kept of business transactions. It shows the accounts to be debited and the others to be credited.
Presently, Stock A pays a dividend of $1.00 a share, and you expect the dividend to grow rapidly for the next four years at 20 percent. Thus, the dividend payments will be Year Dividend 1 $1.20 2 1.44 3 1.73 4 2.07 After this initial period of super growth, the rate of increase in the dividend should decline to 2 percent. If you want to earn 6 percent on investments in common stock, what is the maximum you should pay for this stock?
Answer:
We should pay $46.50 for this stock.
Explanation:
The stock value is the present value of all the future dividends associated with the stock.
Following is the working to calculate the stock value.
Dividend
Year Dividend
_1 ____$1.20
_2 ___ $1.44
_3 ___ $1.73
_4 ___ $2.07
Use following formula to calculate the present value of all the dividends
Present value of Dividend = Dividend value x ( 1 + Expected interest rate )^numbers of years
Now calculate the present value of al the dividends
Year __Working ___________________________ Present values
_1 ____$1.20 x ( 1 + 6% )^-1 ____________________ $1.132
_2 ___ $1.44 x ( 1 + 6% )^-2 ____________________ $1.282
_3 ___ $1.73 x ( 1 + 6% )^-3 ____________________ $1.453
_4 ___ $2.07 x ( 1 + 6% )^-4____________________ $1.640
_5 to onward ___ [$2.07 / ( 6% - 2% )] x ( 1 + 6% )^-4 _ $40.991
Total _____________________________________$46.498
We should pay $46.50 for this stock.
Why does a company's budget need to be closely linked to the needs of good strategy execution? Provide at least two examples of companies that have used strategic priorities to drive how capital allocations are made.
Explanation:
A company's budget need to be closely linked to the needs of good strategy execution as the company
might utilize the budget as per the strategy to expand, gain capital from divesting to utilize in new initiatives.
The key here is to gain access to capital from different sources in order to utilize them in other present or future investments that will provide the best return. So, it is strategically very relevant to prioritize the budget earnings and spend as per the company strategy.
transporting goods by shipping is a low-cost mode of transportation that can carry a wide variety of goods but is very slow. Which of the following would be the best situation to transport the goods by ship.
A. a batch of t-shirts going from a producer in China to a retailer in California who needs to stock the merchandise on shelves next week.
B. a batch of t-shirts going from a producer in China to a retailer in California who won't be stocking the merchandise on shelves for another 2 months.
C. a batch of t-shirts going from a producer in Montana to a retailer in millions who won't be stocking the merchandise on shelves for another two months.
D. a t-shirt going from a retailer in California to a consumer in texas who wants overnight delivery.
Answer:
A
Explanation:
The transporting of the goods and services by the shipping is a low cost by ship as T-shirts going from china to a retailer in California would stock them on shelves for next week. Thus option A is correct.
What is shipping?Shipping is a freight transportation and involves the process of transporting commodities and including the merchandised goods and cargo.
The shipment usually refers to the transport by sea. Now it extends to land and air as well. Shippmnet made by rail includes 2% of the total type of transpration. The D2D refers to the door-to-door shipping that is domestic shipping of cargo.
Find out more information about the shipping.
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A firm reports net income of $456,325.00 for 2013. The firm has a dividend payout ratio of 20.00%. The firm currently has $994,000.00 in debt, and $1,628,000.00 in shareholder equity. The firm pays 6.00% annual interest on their outstanding debt. The firm wants to maintain its debt to equity ratio. Based on the interest rate on debt, how much more interest will the firm pay in 2014
Answer:
$433,550.00
Explanation:
let me know if I'm wrong
how does coved-19 effect in how mangers make decisions?
Answer:
1. not all people want to wear a mask when they walk into their store
2. a lot of their workers probaly quit or have corona, this would make it harder to make decisions with not a lot people to work!
Explanation:
Sandhill Co. received proceeds of $583500 on 10-year, 8% bonds issued on January 1, 2019. The bonds had a face value of $550000, pay interest annually on December 31, and have a call price of 102. Sandhill uses the straight-line method of amortization. Sandhill Co. decided to call the bonds on January 1, 2021. What amount of gain or loss would Sandhill report on their 2021 income statement?
Answer:
$15,800 gain
Explanation:
Calculation for the amount of gain or loss would Sandhill report on their 2021 income statement
First step is to calculate Annual Amortization
Annual Amortization=($583,500 - $550000) ÷ 10 Annual Amortization= $3,350
Now let calculate the amount of gain or loss
Gain or loss= ($550,000 × 1.02) - [$583,500 - ($3350 × 2)]
Gain or loss= $561,000-($583,500-$6,700)
Gain or loss=$561,000-$576,800
Gain or loss=$15,800 Gain
Therefore the amount of gain or loss would Sandhill report on their 2021 income statement will be $15,800 Gain
Town of Willingdon adopted the following General Fund budget for the fiscal year beginning July 1: Estimated revenues: Taxes $ 15,000,000 Intergovernmental revenues 1,000,000 Licenses and permits 400,000 Fines and forfeits 150,000 Miscellaneous revenues 100,000 Total estimated revenues $ 16,650,000 Appropriations: General government $ 8,000,000 Public safety 6,000,000 Public works 1,550,000 Health and welfare 950,000 Miscellaneous 100,000 Total appropriations $ 16,600,000 Required a-1. Prepare the general journal entries to record the adopted budget at the beginning of the fiscal year.
Answer and Explanation:
a-1 The journal entry is given below:
Estimated revenue Dr $16,650,000
To Budgetary fund balance $50,000
To Appropriations $16,600,000
(Being estimated revenue is recorded)
Here the estimated revenue is debited while on the other hand, the budgetary fund and appropriation is credited
A stadium sold 4000 tickets at 75$/ticket, 5350 tickets at 62$/ticket and, 7542 tickets at 49$/ticket. What was the total ticket sales revenue?
Answer:
4000x70=280000
5350x62=331700
7542x49=369558
add that all up to get $981258
Hope this helps!
Yeager Corporation has used regression analysis to perform price elasticity analysis. In doing so management regressed the quantity demanded (y variable) against price (x variable) with the following results:
Multiple R 0.86798
Adjusted R squared 0.72458
Standard error 542.33
Intercept 56400.5
Price coefficient –4598.20
1. What percentage of the variation in quantity demanded is explained by price?
a. 86.798%
b. 72.458%
c. 56.4%
d. 54.233%
2. Calculate the predicted quantity demanded if price is set at $7.00.
a. 24,213
b. 88,588
c. 31,234
d. 18,454
Answer:
b). 72.458 %
a). 24, 213
Explanation:
1). The second option i.e. 72.458% correctly measures the variance percentage brought in the dependent variable(regressed the quantity demanded) by manipulating the independent variable(price elasticity). The first option is wrong as it shows R multiple which is rather the coefficient. The third and the last options are incorrect as they display the intercept employed to determine the quantity and the key error of calculating the standard deviation.
2). The predicted quantity demanded would be 24,213 if the price is fixed at $7.00.
It can be calculated using the formula;
Quantity demanded = Intercept + (Adjusted R squared * Price coefficient)
∵ Quantity Demanded = 56,400.50 + (7 X -4,598.2)
= 24,213
Differentiate an ordinary manager and a business entrepreneur?
Answer:
A manager is an employee hired to oversee daily administration of the business. while the entrepreneur owns the business
Answer:
An ordinary manager is a leader in a company that does not belong to him/her while an entreprenur is the owner of his/her company.
An ordinary manager is not a risk-taker as they maintain the status quo of the company while an enterpreur is a risk-taker who bears all the risk.
Integrating management theories (Lead)
Management at Work
You are the proud owner of a small vintage clothing store. Your store, Fantastic 40s, specializes in clothing from the 1940s. You have four great employees, Rebecca, Rachel, Roberto, and Rafael. At first, business was good, but, recently, you have noticed that sales are sleeping. Puzzle, your turn to your management textbook for some ideas on how to turn things around.
Identify each management strategy in the following table with a management theory.
Classical Humanistic Management Contingency
Management Management Science Theory
Strategy Theory Theory
You measure sales over time and
realize that the months of July, August,
and September are particularly slow.
As a result, you ask two of your sales
clerks if they would be willing to work
part-time during those months.
You make sure that when you hire new
people, you get input from each of the
existing team members. If they are happy
with the new hire, they are more likely to
make that person part of the team, and
the team will sell more.
You notice that when customers have too
many choices, they are less likely to make
a decision about what to buy, so you tell all
of your employees to bring out only three
things at one time. In addition, you start to
pay your employees a commission for every
item that they sell.
A customer survey shows that the men who
come into the store would prefer to be left alone
while they shop, but the women who come into
the store want to be asked if they need assistance.
You tell your employees to leave men alone and ask
women if they want help.
Answer:
Identifying each Management Strategy with a Management Theory:
Management Strategies: Management Strategy
1. You measure sales over time and 4. Contingency Theory
realize that the months of July, August,
and September are particularly slow.
As a result, you ask two of your sales
clerks if they would be willing to work
part-time during those months.
2. You make sure that when you hire new 3. Management Science
people, you get input from each of the
existing team members. If they are happy
with the new hire, they are more likely to
make that person part of the team, and
the team will sell more.
3. You notice that when customers have too 2. Humanistic
many choices, they are less likely to make Management Theory
a decision about what to buy, so you tell all
of your employees to bring out only three
things at one time. In addition, you start to
pay your employees a commission for
every item that they sell.
4. A customer survey shows that the men who 1. Classical Management
come into the store would prefer to be left alone Theory
while they shop, but the women who come into
the store want to be asked if they need assistance.
You tell your employees to leave men alone
and ask women if they want help.
Explanation:
Management Theories:
1. Classical Management Theory concentrates on specialization of labor, centralized leadership and decision-making, and profit maximization.
2. Humanistic Management Theory is a people-based management that seeks profits for human ends and not for the sake of profit as an end in itself.
3. Management Science concentrates on problem solving and decision making in human organizations.
4. Contingency Theory is a situational management practice without set rules, but depends on the prevailing moment.
Waterway Industries purchased land as a factory site for $1330000. Waterway paid $112000 to tear down two buildings on the land. Salvage was sold for $8000. Legal fees of $5140 were paid for title investigation and making the purchase. Architect's fees were $46900. Title insurance cost $3900, and liability insurance during construction cost $4200. Excavation cost $15760. The contractor was paid $4200000. An assessment made by the city for pavement was $9700. Interest costs during construction were $251000.
a. The cost of the land that should be recorded by Wilson Co. is:_________
b. The cost of the building should be recorded by Wilson Co. is:______
Answer:
A. $1,487,840
B. $4,517,860
Explanation:
a. Calculation for The cost of the land that should be recorded by Wilson Co
Cost of Land=$1,330,000+$112,000-$8,000+$5,140+$39,00+$9,700
Cost of land=$1,487,840
Therefore The cost of the land that should be recorded by Wilson Co. is:$1,487,840
b. Calculation for The cost of the building should be recorded by Wilson Co
Cost of building=$46,900 + $4,200 + $15,760 + $4,200,000 + $251,000
Cost of building=$4,517,860
Therefore The cost of the building should be recorded by Wilson Co. is: $4,517,860
An internal control system is used to do which of the following:
a. Protect assets
b. Prevent all losses
c. Ensure reliable accounting
d. Control the entire operation
Answer:
a. Protect assets
b. Ensure reliable accounting
Explanation:
One of the major purpose of internal control is the safeguarding of an organization's assets. This means that any institutions or organization that has what is called internal control system, such must ensure the safe keeping and protection of the company's assets from theft, obsolesce, wear and tear etc.
Also, a strong internal control system create a process whereby, the accounting system an organization becomes reliable. This means that where an internal control is well carried out, such implies that the accounting system of such organization could be relied upon.
On April 1st, an automobile manufacturer had no beginning inventories and, it purchased 8,400 batteries at a cost $90 per battery. It withdrew 7,800 batteries from the storeroom during the month. Of these, 50 were used to replace batteries in cars being used by the company's traveling sales staff. The remaining batteries withdrawn from the storeroom were installed in cars being manufactured by the company. Of the cars in production during April, 80 percent were completed and transferred from work in process to finished goods. Of the cars completed during the month, 20 percent were unsold at April 30th. How much of the total battery cost would be recorded as Selling Expense for the month of April
Answer:
The total battery cost recorded as Selling Expense = $4,500 ($90 * 50 batteries)
Explanation:
a) Data and Calculations:
Work-in-process Inventory
Units Unit Cost Total
Purchase of batteries = 8,400 $90 $756,000
Used batteries:
Selling staff (50) $90 4,500
Production (7,750) $90 697,500
Ending inventory 600 $90 54,000
Finished goods inventory:
Production (7,750) $90 697,500
Finished goods (80%) 6,200 $90 558,000
Cost of goods sold and ending inventory of finished goods:
Cost of batteries sold 4,960 $90 $446,400
Ending inventory 1,240 $90 $111,600
b) The cost of batteries recorded as Selling Expense is the cost for the 50 batteries used by the company's traveling sales staff. It is determined by multiplying 50 by $90, the unit cost of each battery.
Corporation made sales of million during . Of this amount, collected cash for million. The company's cost of goods sold was million, and all other expenses for the year totaled million. Also during , paid million for its inventory and million for everything else. Beginning cash was million.
Carter's top management is interviewing you for a job and they ask two questions:
Required:
a. How much was Carter's net income for 2016?
b. How much was Carter's cash balance at the end of 2016?
Answer:
A. $405 million
B. $332 million
Explanation:
A. Calculation for How much was Carter's net income for 2016
Using this formula
2016 Net income=Sales revenue - Cost of goods sold - Other expenses
Let plug in the formula
2016 Net income= $900 million - $270 million - $225 million
2016 Net income = $405 million
Therefore How much was Carter's net income for 2016 is $405 million
B. Calculation for How much was Carter's cash balance at the end of 2016
Using this formula
2016 Ending cash balance =Beginning balance + Cash receipts - Payments
Let plug in the formula
2016 Ending cash balance=$ 110 millon + $872 million- $375million - $275million
2016 Ending cash balance= $332million
How much was Carter's cash balance at the end of 2016 is $332million
Alton Company uses a process-costing system for its single product. Material A is added at the beginning of the process; in contrast, material B is added when the units are 75% complete. The firm's ending work-in-process inventory consists of 6,000 units that are 80% complete. Which of the following correctly expresses the equivalent units of production with respect to materials A and B in the ending work-in-process inventory?
a. A, 4,800; B, 0.
b. A, 4,800; B, 4,800.
c. A, 6,000; B, 0.
d. A, 6,000; B, 4,800.
e. A, 6,000; B, 6,000.
Answer:
e. A, 6,000; B, 6,000.
Explanation:
At the beginning of the process Materials A are added. Therefore it won't matter if the process is 80% or less/more is complete, the materials A have already been added and would be equivalent to the ending work-in-process inventory i.e. 6,000 units.
Materials B are added when the units are 75% complete. Since the ending work-in-process are 80% complete, then this means that the Materials B equivalent to 6,000 units have already been added to the ending inventory.
Hence, both materials A and B have been added to the ending work-in-process inventory for 6,000 units. Therefore, option E is correct.
The answer that correctly expresses the equivalent units of production with respect to materials A and B in the ending work-in-process inventory is: E) A, 6,000; B, 6,000.
Equivalent units of production
Materials A
Ending work-in-process inventory=6,000 units x 100%
Ending work-in-process inventory=6,000
Materials B
Ending work-in-process inventory=6,000 units x 100%
Ending work-in-process inventory=6,000
Inconclusion the answer that correctly expresses the equivalent units of production with respect to materials A and B in the ending work-in-process inventory is: E) A, 6,000; B, 6,000.
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PLS HELP!! from least expensive to most.
Answer:
lowest budget
most expensive first class
Explanation:
there self explanatory
have a good rest of your day
On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method?
Cost Retail
May 1 Inventory $125,000 $166,667
May 1-31 Purchases $235,000 313,333
May 1-31 Sales 230,000
a. $250,000
b. $187,500
c. $172,500
d. $360,000
Answer:
b. $187,500
Explanation:
Using the retail method, we calculate the estimated cost of inventory on the 31st of May.
Calculation of retail value of the ending inventory Amount ($)
Retail price/value of the beginning inventory on May 1 (A) 166,667
Retail price/value of the goods purchased during May (B) 313,333
Retail price/value of the goods available for sale (C) 480,000
(C) = (A) + (B)
Total sales during May (D) 230,000
Retail value of ending inventory (E) 250,000
(E) = (C) - (D)
Now calculating the ratio of cost to the price ratio :
[tex]$\text{Cost to reatil price ratio} = \frac{\text{cost}}{\text{retail price}}$[/tex]
[tex]$=\frac{(F+G)}{(H+I)}$[/tex]
Here, F = cost of beginning inventory = $125,000
G = cost of inventory purchased = $235,000
H = retail value of beginning inventory = $166,667
I = retail value of goods purchased during the period = $313,333
The cost to retain ratio [tex]$=\frac{(F+G)}{(H+I)}$[/tex]
[tex]$=\frac{(125,000+235,000)}{(166,667+313,333)}$[/tex]
[tex]$=0.75$[/tex]
Now the estimated cost of the inventory on May 31st = cost to retail price ratio x retail value of ending inventory
= 0.75 x 250,000
= $ 187,500
Accounts receivable arising from sales to customers amounted to $40,000 and $32,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $110,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is:
A. $118,000.
B. $110,000.
C. $102,000.
D. $150,000.
Credit memos from the bank
decrease a bank customer's account
are used to show a bank service charge
show that a company has deposited a customer's NSF check
show the bank has collected a note receivable for the customer
Answer: $118,000 ;
show the bank has collected a note receivable for the customer
Explanation:
Based on the information given in the question, we can see that there is a reduction in the accounts receivables which will be:
= $40,000 - $32,000
= $8,000
This will then be added to the bet income in order to get the value for the cash flows from operating activities which will be:
= $110,000 + $8,000
= $118,000
Credit memo shows the payment or interest for a particular thing. This can be used to show that a particular bank has received a note, also can be used to show that an interest has been earned on the deposit made. Therefore, the correct option is "show the bank has collected a note receivable for the customer"
a rightward shift of an entire demand curve could be the result of an increase in
Patricia decides to buy a pair of boots for $85.00. She was willing to pay $110.00. When her friend Cecilia sees the boots, she loves them and thinks they are worth $170.00. So she offers Patricia $135.00 for the boots, and Patricia accepts. Patricia and Cecilia are both thrilled with the exchange.
The total surplus received by both Patricia and Cecilia is $ _________
Answer:
$60
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
Consumer surplus received by Patricia = $110 - $85 = $25
Consumer surplus received by Cecilia = $170 - $135 = $35
Sum of the surpluses = $25 + $35 = $60
The demand for toys produced by the Miki Manufacturing Company has been collected in the Microsoft Excel Online file below. Use the Microsoft Excel Online file below to develop simple linear regression forecast and answer the following questions.
Simple Linear Regression Forecast
Period Actual Demand Forecast Formulas
1 1,600 #N/A
2 2,000 #N/A
3 1,800 #N/A
4 1,200 #N/A
5 2,300 #N/A
6 3,600 #N/A
7 3,300 #N/A
8 3,200 #N/A
9 4,000 #N/A
10 4,900 #N/A
11 4,500 #N/A
12 4,400 #N/A
13 #N/A
Intercept #N/A
Slope #N/A
1. What is the trend line? Round your answers to two decimal places. Do not round intermediate calculations.
2. Calculate the linear trend forecast for the periods from 1 to 13. Round your answers to the nearest whole number. Use unrounded intercept and slope values.
Period Forecast
1
2
3
4
5
6
7
8
9
10
11
12
13
Answer:
attached below is the required solution
Explanation:
1) Determine the trend line
The trendline ( Y ) = 319.58x + 989.39 ( attached below is a graph showing the trendline )
2) attached below is the table showing the calculation of Linear trend forecast
A company's written promise to pay (in the form of a promissory note) a future amount is a(n):
Multiple Choice
Unearned revenue.
Prepaid expense
Credit account
Note payable.
Account receivable.
Based on accounting principles, a company's written promise to pay a future amount is known as "Note payable."
This is because a Note Payable is a term that describes a financing tool or tender used by one party to depict his promises in writing to pay a specific amount of money to the other.
A note payable is often written with a defined date, which may be determined by the receiver of the debt payment on agreed terms.
Hence, in this case, it is concluded the correct answer is option D. "note payable."
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Using the earliest due date (EDD) rule, the average flow time for the five jobs is _____.
a. more than 10 but less than or equal to 20 days
b. more than 20 but less than or equal to 30 days
c. more than 30 but less than or equal to 40 days
d. more than 40 days
Answer:
a. more than 10 but less than or equal to 20 days
Explanation:
The earliest due date is most popularly known as the EDD rule in the industry. It is defined as the rule that gives the job with an earliest due date which is based on the assigned due dates to the highest priority. These rules are applied by the workers who specializes in the low volume production to medium volume production. It also utilizes batch processes or job processes.
Using the EDD or earliest due date rule, an average flow time for 5 jobs should be more than ten days but it should be less than twenty days or equal to twenty days.
The following transactions were completed by the company.
A. The company completed consulting work for a client and immediately collected $6,200 cash earned.
B. The company completed commission work for a client and sent a bill for $4,700 to be received within 30 days.
C. The company paid an assistant $1,750 cash as wages for the period.
D. The company collected $2,350 cash as a partial payment for the amount owed by the client in transaction b.
E. The company paid $840 cash for this period's cleaning services.
Required:
Enter the impact of each transaction on individual items of the accounting equation.
Answer:
The impact of each transaction on individual items of the accounting equation:
A. The company completed consulting work for a client and immediately collected $6,200 cash earned.
Assets (Cash + $6,200) = Liabilities + Equity (Retained Earnings + $6,200)
B. The company completed commission work for a client and sent a bill for $4,700 to be received within 30 days.
Assets (Accounts Receivable + $4,700) = Liabilities + Equity (Retained Earnings + $4,700)
C. The company paid an assistant $1,750 cash as wages for the period.
Assets (Cash -$1,750) = Liabilities + Equity (Retained Earnings -$1,750)
D. The company collected $2,350 cash as a partial payment for the amount owed by the client in transaction b.
Assets (Cash +$2,350 and Accounts Receivable -$2,350) = Liabilities + Equity
E. The company paid $840 cash for this period's cleaning services.
Assets (Cash -$840) = Liabilities + Equity (Retained Earnings -$840)
Explanation:
The accounting equation is that assets are always equal to liabilities and equity before and after every business transaction. It is an important principle of accounting and the fulcrum of the double-entry system of accounting. It establishes the two sides to every transaction. It can be used to show the impact of daily business transactions on the assets, liabilities, and stockholders' equity.
The following accounting equation will be used for every transaction Total Assets = Total Liabilities + (Stockholders Equity + Retained earnings)
The balance in each account after analyzing the effect of the transaction on the accounting equation is shown below
Assets = Liabilities + Owners Equity
Contr. Capital + Retained Earnings
Cash+Accounts = Accounts +Common Dividends+Revenue-Expense
Receivable payable Stock
A. $6,200 $6,200
B. $4,700 $4,700
Bal $6,200 $4,700 $0 $0 $10,900
C. -$1,750 -$1,750
Bal $4,450 $4,700 $0 $0 $10,900 -$1,750
D. $2,350 -$2,350
Bal $6,800 $2,350 $0 $0 $10,900 -$1,750
E. -$840 -$840
Bal $5,960 $2,350 $0 $0 $0 $10,900 -$2,590
For better understanding, an image of the table is attached below:
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