Answer:
Sheffield Corp
Retained Earnings Statement for the year ended December 31, 2017:
Net Income $10,400
Retained Earnings, January 1 17,000
Dividends (6,700)
Retained Earnings, December 31 $20,700
Explanation:
Sheffield's statement of retained earnings shows the net income after tax, which is added to the Retained Earnings at the beginning of the period. Then the dividends paid are deducted to arrive at the Retained Earnings at the end of the period. The statement shows the distribution of net income to stockholders.
You can buy a car that is advertised for $24,600 on the following terms: (a) pay $24,600 and receive a $4,600 rebate from the manufacturer; (b) pay $410 a month for 5 years for total payments of $24,600, implying zero percent financing. a. Calculate the present value of the payments for option (a) if the interest rate is 1.25% per month. b. Calculate the present value of the payments for option (b) if the interest rate is 1.25% per month. (Do not round intermediate calculations. Round your answer to 2 decimal places.) c. Which is the better deal? Option a Option b
Answer:
A. $20,000
B. $17,234.18
C.Option (b)
Explanation:
Obviously, the option with lower Present Value would be the best option to buy the car. The Present Value of the options can find out as following
REQUIREMENT A
Price of car = $24,600
Rebate = $4,600
Present value of the payments for option = Price of the car – rebate
Present value of the payments for option (a) = $24,600 - $4,600
Present value of the payments for option = $20,000
REQUIREMENT B
We can use the following Present Value of an Annuity formula to calculate the present value of the payments
PV of the payments for option = PMT * [1-(1+i) ^-n)]/i
PV of the payments for option (b) (PV) =?
Monthly payment PMT =$410 per month
Number of payments n = 5 years *12 months = 60
Monthly interest rate i=1.25% per month or 0.0125
PV of the payments for option = $410 x [1- (1+0.0125) ^-60]/0.0125
PV of the payments for option = $17,234.18
REQUIREMENT C.
Which is the better deal?
Option (b) is better deal as the present value of payments ($17,234.18) is less than Present value of the payments for option (a); $20,000.
. You have room for up to two fruit-bearing trees in your garden. The fruit trees that can grow in your garden are either apple, orange, or pear. The cost of maintenance is $100 for an apple tree, $70 for an orange tree, and $120 for a pear tree. Your food bill will be reduced by $130 for each apple tree you plant, by $145 for each pear tree you plant, and by $90 for each orange tree you plant. You care only about your total expenditure in making any decisions. (a) List the set of possible actions, related outcomes, and the payoff of each action/outcome. What is your optimal action
Answer:
you should have 2 apple trees
Explanation:
you can have savings costs net payoff
no tree at all 0 0 0
1 apple tree $130 $100 $30
1 orange tree $90 $70 $20
1 pear tree $145 $120 $25
2 apple trees $260 $200 $60
2 orange trees $180 $140 $40
2 pear trees $290 $240 $50
1 apple + 1 pear tree $275 $220 $55
1 apple + 1 orange tree $220 $170 $50
1 orange + 1 pear tree $235 $190 $45
Zander Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed to cost of goods sold at the end of the month. In July the company completed job F21X that consisted of 28,350 units of one of the company's standard products. No other jobs were in process during the month. The job cost sheet for job F21X shows the following costs: Beginning balance $79,380 Direct materials $895,860 Direct labor cost $309,015 Manufacturing overhead cost applied $518,805 During the month, the actual manufacturing overhead cost incurred was $513,135 and 18,900 completed units from job F21X were sold. No other products were sold during the month. The unadjusted cost of goods sold (in other words, the cost of goods sold BEFORE adjustment for any underapplied or overapplied overhead) for July is closest to:___________.
a) $1,202,040
b) $1,199,240
c) $1,723,680
d) $1,803,060
Answer:
COGS= $1,202,040
Explanation:
First, we need to calculate the manufacturing cost:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 79,380 + 895,860 + 309,015 + 518,805 - 0
cost of goods manufactured= $1,803,060
Now, the cost of goods sold:
COGS= (Total cost/total units)*units sold
COGS= (1,803,060/28,350)*18,900
COGS= $1,202,040
Thad, Jamarcus, and Willy have been working for Davidson International each for three years. While the trio started together as analysts and are all still on the same team, Jamarcus has recently been made a team lead, while Willy and Thad are still in their respective positions, although Willy did receive a small raise after his last performance evaluation. When Thad complained about not getting a raise, he was experiencing which attitude
Answer:
A) cognitive
Explanation:
Since in the question it is mentioned that three persons are working for DavidSon international. All three have in their positions in the company but Willy received a small raise after considering the evaluation of last performance
In case when Thad complained regarding the raise so he was experiencing a cognitive attitude that deals in belief, knowledge, thoughts of a particular person
hence, the correct option is A.
True or False: A price ceiling below $25 per box is not a binding price ceiling in this market. True False Because it takes many years before newly planted orange trees bear fruit, the supply curve in the short run is almost vertical. In the long run, farmers can decide whether to plant oranges on their land, to plant something else, or to sell their land altogether. Therefore, the long-run supply of oranges is much more price sensitive than the short-run supply of oranges. Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a that is in the long run than in the short run.
Answer:
1. False
2. Shortage; Larger
Explanation:
1. A binding price ceiling is one that prevents the market from reaching its equilibrium. In this market, the equilibrium price is $25 therefore anything below $25 will be binding. A price ceiling below $25 per box is a binding ceiling.
2. Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a shortage that is larger in the long run than in the short run.
In the long run, supply is more sensitive because farmers can decide to plant oranges on their land, to plant something else, or to sell their land altogether.
This means that a price ceiling in the long run will be less attractive to farmers so they might leave the market. If they do this then the shortage will be more as there are now less supplies in the market.
Kluth Corporation has two manufacturing departments--Molding and Customizing. The company used the following data at the beginning of the year to calculate predetermined overhead rates:
Molding Customizing Total
Estimated total machine-
hours (MHs) 9,000 3,600 12,600
Estimated total fixed
manufacturing overhead
cost $36,000 $13,320 $49,320
Estimated variable
manufacturing overhead
cost per MH $2.50 $3.00
During the most recent month, the company started and completed two jobs--Job C and Job M. There were no beginning inventories. Data concerning those two jobs follow:
Job C Job M
Direct materials $16,700 $9,900
Direct labor cost $23,400 $10,300
Molding machine-hours 2,700 6,300
Customizing machine-hours 3,000 600
Required:
Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both production departments. Further assume that the company uses a markup of 20% on manufacturing cost to establish selling prices. Calculate the selling prices for Job C and for Job M.
Answer:
Kluth Corporation
Calculation of the Selling price of:
Job C Job M
Direct materials $16,700 $9,900
Direct labor cost $23,400 $10,300
Total overhead costs $37,650 $44,970
Total job cost $77,750 $65,170
20% Markup 15,550 13,034
Selling prices $93,300 $78,204
Explanation:
a) Data and Calculations:
Molding Customizing Total
Estimated total machine- hours (MHs) 9,000 3,600 12,600
Estimated total fixed manufacturing
overhead cost $36,000 $13,320 $49,320
Estimated variable manufacturing
overhead cost per MH $2.50 $3.00
Variable manufacturing overhead $22,500 $10,800 $33,300
Total manufacturing overhead $58,500 $24,120 $82,620
Predetermined overhead rate $6.50 $6.70
Jobs started and completed: Job C Job M
Direct materials $16,700 $9,900
Direct labor cost $23,400 $10,300
Molding machine-hours 2,700 6,300
Customizing machine-hours 3,000 600
Overhead costs:
Molding (2,700 * $6.50) $17,550 $40,950 (6,300 * $6.50)
Customizing (3,000 * $6.70) $20,100 $4,020 (600 * $6.70)
Total overhead costs $37,650 $44,970
Total job cost $77,750 $65,170
20% Markup 15,550 13,034
Selling price $93,300 $78,204
Which of the following are examples of limited resources on the part of consumers?
O product and space
O money and product
time and money
space and time
Answer:
Time and money
Answer:
Time and money
Explanation:
Consider that you are a member of a work team but feel that you are carrying a much heavier workload than another team member. You also feel that other team members are not invested in the team initiative, as they show up late to meetings, if they show up at all. Last week, a different team member also criticized you in a disrespectful manner in front of the rest of the team. Your team leader is completely unaware of all of these issues. In what manner and in what order would you resolve all of the above conflicts and why
Explanation:
Analyzing the conflicts exposed in the scenario above, it is possible to identify a communication failure between the team. Therefore, the first way to solve these problems would be to make room for dialogue, using an assertive approach, exposing the facts and seeking the best solution for team integration and the pursuit of common goals.
The ideal would also be to communicate to the team leader about conflicts, so that he could assist in the best strategy for solving problems and delegating tasks to members, so as not to overload any collaborator and each one contribute in the best way to success team's.
Partial adjusted account balance data for Swifty Corporation at December 31, 2017, includes the following accounts: Retained Earnings $17,000, Dividends $5,500, Service Revenue $36,300, Salaries and Wages Expense $14,700, Insurance Expense $1,830, Rent Expense $3,810, Supplies Expense $1,410, and Depreciation Expense $800. The balance in Retained Earnings is the balance as of January 1. Prepare a retained earnings statement for the year assuming net income is $15,787.
Answer:
Swifty Corporation
Retained Earnings Statement for the year ended December 31, 2017:
Net Income $15,787
Retained Earnings, January 1, 2017 17,000
Less Dividends (5,500)
Retained Earnings, Dec. 31, 2017 $27,287
Explanation:
a) Data and Calculation:
Service Revenue $36,300
less expenses:
Salaries and Wages Expense $14,700
Insurance Expense 1,830
Rent Expense 3,810
Supplies Expense 1,410
Depreciation Expense 800
Total expenses $22,550
Net income is supposed to be $13,750 and not $15,787.
The Retained Earnings Statement is prepared with the given net income of $15,787. It shows the movement in earnings and distribution to stockholders.
The list includes all balance sheet accounts related to cash from operating activities.
Case X Case Y Case Z
Net income $4,000 $100,000 $72,000
Depreciation expense 30,000 8,000 24,000
Accounts receivable increase (decrease) 40,000 20,000 (4,000)
Inventory increase (decrease) (20,000) (10,000) 10,000
Accounts payable increase (decrease) 24,000 (22,000) 14,000
Accrued liabilities increase (decrease) (44,000) 12,000 (8,000)
For each separate company, compute cash flows from operations using the indirect method. (Amounts to be deducted should be indicated by a minus sign.)
Answer: Please see answers in explanation column
Explanation:
Using the indirect method.
Balance Sheet Accounts Case X Case Y Case Z
Net Income $4,000 $100,000 $72,000
Adjustments to reconcile net income to net cash provided by operations:
Depreciation $30,000 $8,000 $24,000
Account Receivables $-40,000 $-20,000 $4,000
Inventory $20,000 $10,000 -$10,000
Account Payable $24,000 -$22,000 $14,000
Accrued Liability -$44,000 $12,000 -$8000
Cash Flows from operating
activities -$6,000 $88,000 $96,000
Eaton Electronic Company’s treasurer uses both the capital asset pricing model and the dividend valuation model to compute the cost of common equity (also referred to as the required rate of return for common equity). Assume: Rf = 3 % Km = 6 % β = 1.1 D1 = $ 0.50 P0 = $ 15 g = 5 % a. Compute Ki (required rate of return on common equity based on the capital asset pricing model). (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
Answer:
Ki = 0.063 or 6.30%
Explanation:
The CAPM or Capital asset pricing model is an approach to calculate the required rate of return of a stock. The required rate of return or cost of equity is the minimum return required by the investors o invest in a stock based on the systematic risk of the stock. The formula to calculate the required rate of return of a stock using the CAPM is,
Ki = Rf + β * (Km - Rf)
Where,
Rf is the risk free rateβ is the beta of the stockKm is the expected return on the marketKi = 0.03 + 1.1 * (0.06 - 0.03)
Ki = 0.063 or 6.3%
6. The Center for Child Care reports on 539 children and the marital status of
their parents. There are 333 married, 182 divorced, and 24 widowed parents.
What is the probability a particular child chosen at random will have a parent
who is divorced? Which approach did you use?
Answer:
0.338
Explanation:
The probability of an event happening is between o and 1. A 1 guarantees the event will happen while 0 means it won't happen.
In this case, The total number of students is 539. One hundred eighty-two have divorced parents. The probability of getting a child with divorced parents is 182 in a population of 539.
It is represented as a decimal as below
=182/539
=0.33766
=0.338
1. Jones files a lawsuit against BigMoney, LLC, a brokerage firm registered with the Securities and Exchange Commission. In the lawsuit the plaintiff alleges that BigMoney violated the Securities Exchange Act by engaging in fraudulent excessive trading. BigMoney files a motion to dismiss the lawsuit because Jones had signed an agreement with BigMoney consenting to the terms of the agreement which stated all disputes between the parties must be resolved through arbitration. Jones argues that because of the nature of BigMoney’s conduct she is entitled to file a lawsuit and the arbitration clause in the agreement should be nullified. Which party in this lawsuit is right and why?
Answer:
Jones is right in this lawsuit
Explanation:
Arbitration is the process by which disputes are settled between parties. When there is a disagreement between parties an arbitrator comes in to give a fair and unbiased view of the situation.
A solution that is agreed to by all parties is agreed upon to settle.
In this scenario where Jones is filing a lawsuit against BigMoney LLC for violating the Securities Exchange Act by engaging in fraudulent excessive trading, this is a violation of the law and not a dispute between parties.
So the arbitration clause is is not binding and the arbitration clause should be nullified.
The right party in this lawsuit is Jones because BigMoney is engaged in Excessive Trading and Churning.
What are Excessive Trading and Churning?Excessive Trading and Churning is a situation when a stockbroker excessively trades in a customer's account to earn more commissions. As it is unethical, illegal, and a violation of Securities and Exchange Commission rules, Jones is entitled to file the lawsuit instead of resolving the issue through arbitration.
The arbitration clause applies for business dispute resolution and not for seeking redress when an illegal act is committed by the stockbroker.
Thus, the right party in this lawsuit is Jones.
Learn more about fraudulent practices by stockbrokers at https://brainly.com/question/25572872
Bledsoe Corporation has provided the following data for the month of November: Inventories: Beginning Ending Raw materials $ 25,800 $ 21,800 Work in process $ 17,800 $ 10,800 Finished Goods $ 48,800 $ 56,800 Additional information: Raw materials purchases $ 72,800 Direct labor cost $ 92,800 Manufacturing overhead cost incurred $ 42,880 Indirect materials included in manufacturing overhead cost incurred $ 4,080 Manufacturing overhead cost applied to Work in Process $ 41,800 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.
Answer:
cost of goods manufactured= $218,400
COGS= $210,400
Explanation:
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 17,800 + (25,800 + 72,800 - 21,800) + 92,800 + 41,800 - 10,800
cost of goods manufactured= $218,400
Now, we can determine the cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 48,800 + 218,400 - 56,800
COGS= $210,400
Suppose that, in a competitive market without government regulations, the equilibrium price of donuts is $1.50 each. Complete the following table by indicating whether each of the statements is an example of a price ceiling or a price floor and whether it is binding or nonbinding.
Statement Price Control Binding or Not
1. Due to new regulations, donut shops that would like to pay better wages in order to hire more workers are prohibited from doing so.
2. Price ceiling Binding The government has instituted a legal minimum price of $1.10 each for donuts.
3. Price floor Non-binding The government prohibits donut shops from selling donuts for more than $1.10 each.
just saying hi hint use google like i do
Explanation:
Which of the following statements about the Arbitrage Pricing Theory (APT) are correct? Check all that apply. The APT maintains that the realized return on any stock depends on changes unique to the firm. The APT identifies all relevant factors that affect the realized returns on stocks. The APT model maintains that the realized returns on stocks depend on unexpected changes in fundamental economic factors. The APT is more general than the Capital Asset Pricing Model (CAPM).
Answer: The APT identifies all relevant factors that affect the realized returns on stocks.
Explanation:
Arbitrage pricing theory (APT) is an idea that has to do with the fact when the linear relationship between the macroeconomic variables and the expected return of an asset are analysed, such assets return can be forecasted.
In arbitrage pricing theory, several risk factors are used in determining prices. It also identifies all relevant factors that affect the realized returns on stocks.
A company producing apps for a social networking site is deciding which path to pursue. The first is to create an app that has universal appeal but faces a crowded market. This app, A, would have sales of 100,000 copies at $1 each under ideal conditions, but under tough conditions would have sales of only 60,000 copies at $.80 each. The other app, B, would have sales of 500,000 units at $.50 each under ideal conditions but sales would be reduced to 10,000 units at $.50 each under tough conditions. If ideal and rough conditions occur with the same frequency, which app should the company produce? Note: both apps cost the same amount to develop.
Answer:
The company should produce App B.
Explanation:
a) Data and Calculations:
App A
Ideal condition Sales = 100,000 at $1 = $100,000
Tough condition Sales = 60,000 at $0.80 = $48,000
Expected Sales Revenue under ideal = $100,000 * 50% = $50,000
Expected Sales Revenue under tough = $48,000 * 50% = $24,000
Total sales = $74,000
App B:
Ideal condition Sales = 500,000 at $0.50 = $250,000
Tough condition Sales = 10,000 at $0.50 = $5,000
Expected Sales Revenue under ideal = $250,000 * 50% = $125,000
Expected Sales Revenue under tough = $5,000 * 50% = $2,500
Total sales = $127,500
b) App B will yield a total expected sales revenue of $127,500. This is far better than App A's $74,000.
A social networking service is referred to as an online platform that allows people to develop social networks or relationships with others who have identical academic or work goals, hobbies, experiences, or real-life contacts. The format and number of options provided by social networking services differ.
The answer is the company should produce App B.
a) Data and Calculations:
App A
Ideal condition Sales = 100,000 at $1 = $100,000
Tough condition Sales = 60,000 at $0.80 = $48,000
Expected Sales Revenue under ideal = $100,000 * 50% = $50,000
Expected Sales Revenue under tough = $48,000 * 50% = $24,000
Total sales = $74,000
App B:
Ideal condition Sales = 500,000 at $0.50 = $250,000
Tough condition Sales = 10,000 at $0.50 = $5,000
Expected Sales Revenue under ideal = $250,000 * 50% = $125,000
Expected Sales Revenue under tough = $5,000 * 50% = $2,500
Total sales = $127,500
b) App B yields a total expected sales revenue of $127,500 as compared to App A's $74,000.
To know more about the calculation of both the apps, refer to the link below:
https://brainly.com/question/6431651
Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead $361,260 Estimated machine-hours 2,700 Actual manufacturing overhead $354,700 Actual machine-hours 2,660 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The overhead for the year was: Noreen 4e Recheck 2017-16-03a) $5,352 underappliedb) $5,352 overappliedc) $1,208 underappliedd) $1,208 overapplied
Answer:
Acton Corporation
The overhead for the year was:
$1,208 overapplied
Explanation:
a) Data and Calculations:
Estimated manufacturing overhead $361,260
Estimated machine-hours 2,700
Predetermined overhead rate = $361,260/2,700 = $13.38
Actual manufacturing overhead $354,700
Actual machine-hours 2,660
Overhead applied = Actual machine hours * Predetermined overhead rate
= 2,660 * $13.38
= $355,908
Overapplied overhead = Overhead applied minus Actual overhead
= $355,908 - $354,700
= $1,208
Carla Vista Energy Company owns several gas stations. Management is looking to open a new station in the western suburbs of Baltimore. One possibility that managers at the company are evaluating is to take over a station located at a site that has been leased from the county. The lease, originally for 99 years, currently has 73 years before expiration. The gas station generated a net cash flow of $87,460 last year, and the current owners expect an annual growth rate of 6.3 percent. If Carla Vista Energy uses a discount rate of 13.8 percent to evaluate such businesses, what is the present value of this growing annuity
Answer:
The present Value of the growing annuity= $1,158,092.68
Explanation:
The present value of the growing annuity is going to be computed as follows:
PV = A/(r-g) × (1- (1+g/1+r)^n)
A- annual cash flow- $87,460
g- growth rate - 6.3%
n- number of years =73
r- discount rate - 13.8%
I will break out the formula into two parts to make the workings very clear to follow. So applying this formula, we can work out the present value of the growing annuity as follows.
A/(r-g) = 87,460/(0.138-0.063) =1,166,133.33
(1- (1+g/1+r)^n) = 1- (1.063/1.138)^73 =0.9931
PV = A/(r-g) × (1- (1+g/1+r)^n)
166,133.33× 0.9931 = 1,158,092.68
The present Value of the growing annuity= $1,158,092.68
Which one of the following actions by a financial manager is most apt to create an agency problem? Increasing current profits when doing so lowers the value of the company's equity Refusing to expand the company if doing so will lower the value of the equity Refusing to lower selling prices if doing so will reduce the net profits Agreeing to pay bonuses based on the market value of the company's stock rather than on its level of sales Refusing to borrow money when doing so will create losses for the firm
Answer: Increasing current profits when doing so lowers the value of the company's equity.
Explanation:
The main purpose of a company is to increase the wealth of shareholders. In their capacity as stewards for the company, managers should be working therefore to achieve this goal.
When management neglects this goal and begins to seek an improvement in their welfare and wealth instead of the shareholder', this is an Agency problem.
If a Financial manager is increasing current profits even though doing so will lower the value of the company's equity, this can create an agency problem because the shareholders are suffering but the finance manager might get rewarded for increasing profits.
Which of the following is true of the management function of directing? Group of answer choices Directing involves determining and administering appropriate rewards and recognition. Telling employees what to do and when to do it is against the principles of directing. Directing designs the map that lays the groundwork for the other managerial functions. All managers are involved in directing, but it is most important for top-level managers. Good directing does not require the implementation setting deadlines.
Answer:
Directing involves determining and administering appropriate rewards and recognition.
Explanation:
The true statement about the management function of directing is that, directing involves determining and administering appropriate rewards and recognition.
Directing can be defined as a management function which typically involves the process of instructing, motivating, guiding, supervising, controlling, counseling and overseeing the performances of the various employees working in an organization in order to successfully achieve the organization's aim, set goals and objectives.
Generally, managers or the senior executive members are the individuals who are saddled with the responsibility of directing the affairs of business and employees working in an organization through the process of developing, establishing and administering appropriate rewards such as allowance, salaries, vacations etc and recognition such as awards, promotions, training etc.
Hence, these rewards and recognition go a long way to motivate the employees to give their best at their place of work.
Recall that an exchange rate is the price of one currency in another. For example, it may take US $1.35 to buy 1 British Pound. Also recall the interest rates affect exchange rates. What do you predict will happen to the foreign exchange rate if interest rates in the United States increase more than in the UK? (In other words, which currency will become stronger?) How would such a change affect US exports to the UK? Would it be less expensive for an American tourist to take a vacation to London after the interest rate change? Be sure to clearly explain and justify your reasoning.
Answer:
Exchange Rate and Interest Rate
1. If interest rates in the United States increase more than in the UK, the exchange rate of the US dollars will increase relative to the UK pounds, thus causing the UK pounds to become stronger than the US dollars.
2. US exports to the UK would become cheaper in UK.
3. It would be more expensive for an American tourist to take a vacation to London after the interest rate change because they would need more money to handle the differences.
Explanation:
Generally, higher interest rates in an economy offer investors some higher returns when compared to other countries. These higher interest rates attract foreign capital and cause the exchange rate to rise. When this happens, the cost of goods and services in the country with the higher interest and exchange rates. The opposite becomes the case when the interest and exchange rates are lower relative to other countries.
If interest rates in the United States increase more than in the UK, the United states currency would become stronger or appreciate against the British Pound.
As a result of the increase in the value of the US currency, export to the UK would decline because export would become more expensive. It would be less expensive for American tourist to take a vacation to London.
Exchange rate is the rate at which one currency is exchanged for another currency.
If interest rates in the United States increase more than in the UK, there would be an increase in foreign investments in the US. As a result, the demand for the dollar would increase and this would lead to an appreciation of the dollar against the GBP.
As a result of the appreciation of the dollar, export goods to the UK becomes more expensive and imports to the US from the UK becomes cheaper.
To learn more, please check: https://brainly.com/question/14039990
Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (7,400 units) $ 251,600 $ 34.00 Variable expenses 140,600 19.00 Contribution margin 111,000 $ 15.00 Fixed expenses 55,100 Net operating income $ 55,900 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 70 units? 2. What would be the revised net operating income per month if the sales volume decreases by 70 units? 3. What would be the revised net operating income per month if the sales volume is 6,400 units?
Answer:
Whirly Corporation
1. Revised net operating income per month if the sales volume increases by 70 units:
Whirly Corporation’s contribution format income statement for the most recent month is shown below:
Total Per Unit
Sales (7,470 units) $ 253,980 $ 34.00
Variable expenses 141,930 19.00
Contribution margin 112,050 $ 15.00
Fixed expenses 55,100
Net operating income $ 56,950
2. Revised net operating income per month if the sales volume decreases by 70 units:
Whirly Corporation’s contribution format income statement for the most recent month is shown below:
Total Per Unit
Sales (7,330 units) $ 249,220 $ 34.00
Variable expenses 139,270 19.00
Contribution margin 109,950 $ 15.00
Fixed expenses 55,100
Net operating income $ 54,850
3. Revised net operating income per month if the sales volume is 6,400 units:
Whirly Corporation’s contribution format income statement for the most recent month is shown below:
Total Per Unit
Sales (6,400 units) $ 217,600 $ 34.00
Variable expenses 121,600 19.00
Contribution margin 96,000 $ 15.00
Fixed expenses 55,100
Net operating income $ 40,900
Explanation:
a) Data and Calculations:
Whirly Corporation’s contribution format income statement for the most recent month is shown below:
Total Per Unit
Sales (7,400 units) $ 251,600 $ 34.00
Variable expenses 140,600 19.00
Contribution margin 111,000 $ 15.00
Fixed expenses 55,100
Net operating income $ 55,900
According to an article in the Wall Street Journal, in 2016, Moody's Investors Service has agreed to pay $130 million to end a prominent lawsuit alleging crisis-era misconduct ... The article also noted that, The industry's business model ... remains in place. Source: Timothy W. Martin, Moody's to Pay Calpers $130 Million to Settle Lawsuit, Wall Street Journal, March 9, 2016. All of the following factors contributed to the misconduct cited in the article, except: A. Rating agencies provided high ratings primarily to ensure firms would continue to hire them. B. Analysts anticipated how severe the housing crisis would be. C. Many of the mortgage-backed securities had complicated structures. D. Analysts at the rating agencies were reluctant to require issuers to provide sufficient information to rate the securities. Which of the following does NOT explain why the industry's business model remains in place? A. Governments include bond ratings in their regulation of banks. B. New restrictions on conflicts of interest have been placed on the agencies. C. Ratings agencies are shielded from investor lawsuits. D. Investors still rely heavily on the agencies.
Answer:
All of the following factors contributed to the misconduct cited in the article, except:
D. Analysts at the rating agencies were reluctant to require issuers to provide sufficient information to rate the securities.
Which of the following does NOT explain why the industry's business model remains in place?
C. Ratings agencies are shielded from investor lawsuits.
Explanation:
Crombie Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. The company has provided the following data for June:
Direct materials $44,250
Direct labor cost 76,750
Manufacturing overhead
cost incurred $69,500
Manufacturing overhead
cost applied $73,330
Inventories: Beginning Ending
Work in process $17,700 $27,160
Finished goods $67,680 $36,400
The unadjusted cost of goods sold (in other words, cost of goods sold before adjusting for any underapplied or overapplied overhead) for June is closest to:_____.
a. $216,150.
b. $212,320.
c. $194,330.
d. $184,870.
Answer:
COGS= $216,150
Explanation:
First, we need to calculate the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 17,700 + 44,250 + 76,750 + 73,330 - 27,160
cost of goods manufactured= $184,870
Now, we can determine the unadjusted cost of goods sold:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 67,680 + 184,870 - 36,400
COGS= $216,150
Lewisburg Corporation had 12,000 units of beginning inventory in its Forming Department on July 1. The units were 100 percent complete with respect to direct materials requirements but only 40 percent complete with respect to conversion requirements. On July 31, the company had 9,000 units of inventory remaining in its Forming Department. These units were 100 percent complete with respect to their direct materials requirements but only 70 percent complete with respect to conversion. The Forming Department’s direct materials cost for July totaled $500,000, or $25 per equivalent unit consumed. Its conversion costs for July totaled $352,000, or $16 per equivalent unit. Determine how many units were started and completed in the Forming Department during July.
Answer:
the total number of units started and completed = 11,000 units
Explanation:
total materials costs incurred during the month = $500,000
if materials are added at the beginning of the process, beginning WIP already had 100% of materials costs added, therefore, materials costs were applied only to the total number of units started
total number of units started = $500,000 / $25 cost per EUP = 20,000 units
the total number of units started and completed = units started - ending WIP = 20,000 - 9,000 = 11,000 units
total number of units completed = beginning WIP + units started - ending WIP = 12,000 + 20,000 - 9,000 = 23,000 units
On July 1, 2017, Lopez Company paid $1,200 for six months of insurance coverage. No adjustments have been made to the Prepaid Insurance account, and it is now December 31, 2017. Zim Company has a Supplies account balance of $5,000 on January 1, 2017. During 2017, its purchase $2,000 of supplies. As of December 31, 2017, a supplies inventory shows $800 of supplies available. Prepare the journal entries to reflect expiration of the insurance and correctly report the balance of the Supplies account and the Supplies Expense account as of December 31, 2017.
Answer and Explanation:
The journal entries are shown below:
1. Insurance expense Dr $1,200
To Prepaid insurance $1,200
(Being the insurance expense is recorded)
2. Supplies expense Dr ($5,000 + $2,000 - $800) $6,200
To Supplies $6,200
(Being the supplies expense is recorded)
These two above entries should be recorded and the same is to be considered
"An individual is unique and does not speak for or represent anything other than themselves." This statement is an argument against ______.
a.
Gender
b.
Diversity
c.
Stereotypes
d.
Ethnicity
"An individual is unique and does not speak for or represent anything other than themselves." This statement is an argument against Stereotypes. Hence, option C is appropriate.
What is the meaning of Stereotypes?A stereotype is a generalized opinion about a specific group of people that are used in social psychology. People may have this expectation of every member of a given group.
Stereotypes are traits that society automatically ascribes to particular groups of people to categorize them according to factors like age, weight, occupation, skin tone, gender, etc. In sexual stereotyping, different and occasionally opposing sets of traits are assigned to males and girls.
The word stereotype is derived from the French adverb stéréotype and means "solid imprint on one or even more ideas/theories" from the Greek words (stereos), "firm, solid," and (typos), "impression." Social stereotypes are ideas that certain behaviors or attributes are typical of specific social groupings.
Hence, option C is Correct.
Learn more about the Stereotypes here:
https://brainly.com/question/13281670
#SPJ6
Swifty Corporation is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6340000 on March 1, $5260000 on June 1, and $8950000 on December 31. Swifty Corporation borrowed $3200000 on January 1 on a 5-year, 14% note to help finance construction of the building. In addition, the company had outstanding all year a 12%, 3-year, $6380000 note payable and an 13%, 4-year, $12050000 note payable. What are the weighted-average accumulated expenditures
Answer:
The weighted-average accumulated expenditures is $7,913,333.
Explanation:
Note: See the attached excel file for the calculation of the the weighted-average accumulated expenditures.
Kimberly Young started her own consulting firm, Young Consulting Inc., on May 1, 2022. The following transactions occurred during the month of May. May 1 Stockholders invested $18,900 cash in the business in exchange for common stock. 2 Paid $756 for office rent for the month. 3 Purchased $630 of supplies on account. 5 Paid $189 to advertise for the month in the County News. 9 Performed services for customer for $1,764 cash. 12 Paid $252 cash dividend. 15 Performed $5,292 of services on account. 17 Paid $3,150 for employee salaries. 20 Paid for the supplies purchased on account on May 3. 23 Received a cash payment of $1,512 for services performed on account on May 15. 26 Borrowed $6,300 from the bank on a note payable. 29 Purchased office equipment for $2,520 paying $252 in cash and the balance on account. 30 Paid $236 for utilities.
Show the effects of the above transactions on the accounting equation using the following format. Assume the note payable is to be repaid within the year. Include margin explanations for any changes in revenues or expenses. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
Answer:
I used an excel spreadsheet to answer this question.
