for an organization
Hugo Munsterberg suggested that psychological tests could be helpful in
For an organization
Answer:
"Selecting employees" would be the right approach.
Explanation:
Although psychological testing could potentially allow the organization to generate leads as well as establish business-promoting advertisements, Munsterberg didn't investigate these possible outcomes. Conversely, he started to look at either the practitioners of someone using statistical models to attract and retain employees who've been highly probable to compete at a high level, attempting to producing "selecting employees" the appropriate approach.Domkowski began operations on January 1 of the current year. The company uses a process-costing system, and conversion cost is incurred evenly throughout manufacturing. By January 31, the firm had completed 56,000 units. Which of the following statements is true about the ending work-in-process inventory if equivalent units for conversion cost totaled 59,000 units?
a) There is no ending work-in-process inventory.
b) The ending work-in-process inventory totaled 3,000 physical units.
c) The ending work-in-process inventory of 10,000 physical units was 30% complete.
d) The ending work-in-process inventory of 20,000 physical units was 85% complete.
Answer:
Domkowski
The statement that is true about the ending work-in-process inventory is, if equivalent units for conversion cost totaled 59,000 units:
c) The ending work-in-process inventory of 10,000 physical units was 30% complete.
Explanation:
a) Data and Calculations:
Units started and completed during the current period = 56,000 units
Total equivalent units of production = 59,000 units
Therefore, the ending units inventory = 3,000 (59,000 - 56,000) units.
Since the 3,000 units are equivalent units and still in process, this implies that many more units are attributable to the ending inventory. The nearest explanation is that there are 10,000 units under process and only 30% complete. This results in having 3,000 units (10,000 * 30%) as the ending work-in-process.
Explain one concept of entrepreneur?
Answer:
Entrepreneurship refers to the concept of developing and managing a business venture in order to gain profit by taking several risks in the corporate world.
If Avon and Merck joined together to produce a cream that slows down the aging process, this would be called a(an)
I think you are asking what type of business this is. This is referred to as a "partnership". This is an ownership structure in which a single business is owned by two or more people. All individuals involved in a partnership are expected to contribute money, property, labor, or skill and share risks associated with operating a business. I hope this answers what you are looking for. :)
Most people recognize that, as a group, consumers are the pivotal participants in the economy, The _____________decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the_______ markets.
Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. ___________in the level of consumer spending is usually credited with causing __________and all benefits or costs that go with it.
Options:
a. selling OR purchasing
b. goods and services OR financial
c. an increase OR stagnation
d. economic decline OR economic growth
e. goods and services OR monetary payments
f. goods and services OR monetary payments
g. inputs OR outputs
h. goods and services OR money
i. sellers OR buyers
j. sellers OR buyers
Answer:
1. purchasing
2. Financial.
3. An increase.
4. Economic growth.
Explanation:
Economics can be classified into two (2) categories, namely;
1. Macroeconomics can be defined as the study of behaviors, performance and factors that affect the entire economy. Hence, it focuses on aggregate phenomena such as price level, economic growth, Gross Domestic Product (GDP), inflation, unemployment and national income levels with respect to the central bank, demand or supply shocks, government policies, aggregate spending and savings.
2. Microeconomics can be defined as the study of the effect of price and quantity levels through interactions between individual buyers and sellers in various markets. It focuses on analyzing or evaluating the decisions of consumers (buyers) and those of firms (sellers) such as methods of production, pricing; and the manner in which government policies affect those decisions.
Most people recognize that, as a group, consumers are the pivotal participants in the economy, The purchasing decisions made by consumers determine which goods and services will be produced by businesses, just as their investment and saving decisions will strongly influence conditions in the financial markets.
Another indication of the importance of consumers is the effect their collective spending has on the economic activity level observed in the economy. An increase in the level of consumer spending is usually credited with causing economic growth and all benefits or costs that go with it.
Which of the following statements accurately describe the phases of a business cycle? Check all that apply.
a. A contraction phase is when an economy exhibits decreasing levels of production and consumption.
b. A period of expansion is when an economy exhibits decreasing levels of production and spending.
c. A trough occurs at the end Of the contraction phase and the beginning of the expansion phase.
d. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.
A contraction period is characterized by the following attributes: businesses that are operating lower productive capacity, __________unemployment, low retail sales, ____________prices and interest rates, a declining stock market, and expectations of _______ business profits.
Contraction periods tend to end with a ______________,while expansion periods tend to end with a ____________
Answer:
Which of the following statements accurately describe the phases of a business cycle? Check all that apply.
a. A contraction phase is when an economy exhibits decreasing levels of production and consumption.
c. A trough occurs at the end Of the contraction phase and the beginning of the expansion phase.
d. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.
A contraction period is characterized by the following attributes: businesses that are operating lower productive capacity, HIGH unemployment, low retail sales, LOWER prices and interest rates, a declining stock market, and expectations of LOWER business profits.
Contraction periods tend to end with a TROUGH, while expansion periods tend to end with a PEAK.
One of the problems unions are experiencing today is the reluctance of autoworkers in southeastern United States to join unions. In a few instances, when the Auto Workers Union (AUW) gathered enough employee signatures to call for a union certification election, the employees have voted against unionization. Who conducted this election?
A. union members from other automobile plants
B. a committee made up of union and employer representatives as well as federal election inspectors
c. union officials whose sole responsibility is to conduct elections
D. the National Labor Relations Board
E. the auto manufacturer
Answer:
D. the National Labor Relations Board
Explanation:
The National Labor Relations Board would be empowered by the national labor relations act who has the responsibility for holding the elections in which the labor would decide whether they want to join the union or as represented by one
Now for approaching to the board for an election purpose there is a requirement to represent the enough proof from the workers so here AUW have to gather the sufficient signature of the employee
Loggers are much___________ likely to supply wood to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed.
a. A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.
b. A single public utilities company is responsible for supplying electricity for an entire state.
c. As a result, the utilities company can set the price of electricity.
Answer:
1. Loggers are much____more____ likely to supply wood to the market if property rights are enforced. In the presence of market failures, public policy can improve economic efficiency.
2. Classification of the sources of market failure in each case:
a. A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons.
Negative externalities
b. A single public utilities company is responsible for supplying electricity for an entire state.
Lack of public goods (as a result of the existence of a monopoly)
c. As a result, the utilities company can set the price of electricity.
Abuse of monopolistic powers.
Explanation:
There are many sources of market failure, including positive and negative externalities, environmental concerns, lack of enough public goods, underprovision of merit goods, overprovision of demerit goods, and abuse of monopolistic powers through the imposition of unwholesome prices and restricted supply. For example, smokers in a restaurant impose negative externalities (or costs without compensation) on other restaurant patrons. Monopolies create artificial scarcity of goods and services, intentionally and unintentionally, in order to maximize prices (revenue).
Once expenses have been identified, they can be categorized as either fixed expenses or variable expenses.
For example, your mortgage would be considered a _______ expense, because ______. Conversely, grocery bills would be considered _____, because the actual amount is ______.
Answer:
Once expenses have been identified, they can be categorized as either fixed expenses or variable expenses.
For example, your mortgage would be considered a __fixed__ expense, because _the total amount does not vary_. Conversely, grocery bills would be considered _variable_, because the actual amount is _varies_.
Explanation:
Fixed expenses are fixed in total within a relevant range. The amount remains the same from one period to the next. The element of the fixed expense that changes is the cost per unit and not the total amount. On the other hand, variable expenses vary in total because of their quantities vary but their costs per unit remain fixed.
Peach Company uses a weighted-average process-costing system. Company records disclosed that the firm completed 40,000 units during the month and had 10,000 units in process at month-end, 20% complete. Conversion costs associated with the beginning work-in-process inventory amounted to $231,000, and amounts that relate to the current month totaled $966,000. If conversion is incurred uniformly throughout manufacturing, Peach's equivalent-unit cost is:
Answer:
D. $28.50
Explanation:
Owners of a local restaurant are concerned about their ability to provide quality service as they continue to grow and attract more customers. They have collected data from Friday and Saturday nights, their busiest times of the week. During these time periods, about 140 customers arrive per hour for service. Given the number of tables and chairs, and the typical time it takes to serve a customer, the owners estimate they can serve, on average, about 120 customers per hour.
Required:
During these nights, are they in the zone of service, the critical zone, or the zone of nonservice?
Answer:
During these nights, they are in the zone of non-service.
Explanation:
a) Data From Friday and Saturday nights:
Number of customers arriving per hour for service = 140
Estimated capacity for serving average number of customers = 120/h
b) Determination of service zones:
1) The "Zone of Service" occurs when service is below 70% of capacity, there is little or no wait time for customers, and customers will be happy.
2. The "Critical Zone" is when service is between 70-100% capacity. All their customers will be attended to without hassles, and customers will be satisfied.
3. The "Zone of Non-Service" occurs when the capacity of service is beyond 100%. Many customers will wait, some may not be attended to, and many others will not be happy nor satisfied.
How do courts apply traditional jurisdiction concepts to cases involving internet transaction
Answer:
look it
Explanation:
U P
kosher Pickle Company acquires all the outstanding stock of Midwest Produce for $19.5 million. The fair value of Midwest's assets is $14.6 million. The fair value of Midwest's liabilities is $2.6 million. Calculate the amount paid for goodwill. (Enter your answer in millions rounded to 1 decimal place (i.e., 5,500,000 should be entered as 5.5).)
Answer:
$7.5 million
Explanation:
Fair value of acquired asset = $14.6 million
Fair value of liabilities = $2.6 million
Fair value of net assets = $14.6 million - $2.6 million = $12 million
Purchase price = $19.5 million
Fair value of identifiable asset = $12 million
Amount paid for goodwill = Purchase price - Fair value of identifiable asset
Amount paid for goodwill = $19.5 million - $12 million
Amount paid for goodwill = $7.5 million
LNS Corporation generated a minimum tax credit of $100,000 in 2017. LNS has a regular tax liability of $80,000 in 2018. How much of the 2017 minimum tax credit is refundable to LNS in 2018?
Answer:
$10,000
Explanation:
Calculation for How much of the 2017 minimum tax credit is refundable to LNS in 2018
Refundable minimum tax credit=($100,000-$80,000)*50%
Refundable minimum tax credit=$20,000*50%
Refundable minimum tax credit=$10,000
Note that the 50% represent the refund of the minimum tax credit that is still remaining
Therefore How much of the 2017 minimum tax credit is refundable to LNS in 2018 will be $10,000
Bob's Performance Pizza is a small restaurant in Chicago that sells gluten-free pizzas. Bob's very tiny kitchen has barely enough room for the four ovens in which his workers bake the pizzas. Bob signed a lease obligating him to pay the rent for the four ovens for the next year. Because of this, and because Bob's kitchen cannot fit more than four ovens, Bob cannot change the number of ovens he uses in his production of pizzas in the short run.
However, Bob's decision regarding how many workers to use can vary from week to week because his workers tend to be students. Each Monday, Bob lets them know how many workers he needs for each day of the week. In the short run, these workers________ are inputs. inputs, and the ovens are _______ inputs
Answer:
✓VARIABLE input
✓FIXED input
Explanation:
From the question, we are informed about Bob's performance pizza, and how Bob signed a lease obligating him to pay the rent for the four ovens for the next year. We were told that "Bob's kitchen cannot fit more than four ovens" which means the oven is a " Fixed input".
✓✓A fixed input can be regarded as factor of production, resources by an organization/ firms which cannot be altered in short run, because any change will alter the quantity of output that will be produced by the firm. There are alot of firms having several fixed input in short run as regards to production. This could be equipment as well as building.
We were also informed that Bob's decision regarding how many workers to use can vary from week to week because his workers tend to be students. In this case, the workers are the " Variable input"
✓✓variable input can be regarded as factor of production that is not dependent of level of production. It can be changed and this on the basis of how much it is chosen to produce, hence the cost can be changed too. Variable input could be machinery as well as labor
.
Technician A says wheel runout is usually measured with a dial indicator measuring in .001. Technician B says runout can occur only in the tire, not the wheel or axle. Who is correct?
Answer:
Neither Technician A or B are correct
Explanation:
Wheel runout is a term that involves a vehicle tire that's not perfectly round again. Thus, this will mean that the balance of the tires will be thrown off.
In this wheel runout, it can't be measure with a dial indicator and neither can it occur only in the tire..
Gutierrez, which uses a process-costing system, adds all material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The information that follows relates to the period just ended: Units started and completed: 75,000 Units in ending work-in-process inventory: 15,000, 60% complete Which of the following choices correctly expresses the total equivalent units of production with respect to material and conversion cost? Material Conversion
A. 130,000 130,000
B. 139,540 139,540
C. 145,900 136,360
D. 145,900 139,540
E. 145,900 145,900
Answer:
Materials ⇒ 90,000 units Conversion ⇒ 84,000 unitsExplanation:
Materials
Material is added at the beginning of production which means that it is complete at period end.
Equivalent unit of production for Materials:
= Units started and completed + Units in ending WIP
= 75,000 + 15,000
= 90,000 units
Conversion
Ending WIP is only 60% complete conversion wise.
Equivalent unit is therefore:
= Units started and completed + Units in ending WIP
= 75,000 + (15,000 * 60%)
= 84,000 units
Present entries to record the following transactions:
a. Established a petty cash fund of $235.
b. The petty cash fund now has a balance of $42.80. Replenished the fund, based on the following disbursements as indicated by a summary of the petty cash receipts: office supplies, $74.50; miscellaneous administrative expense, $92.75; and miscellaneous selling expense, $18.60.
c. Increased the petty cash fund to $300.
Answer:
Please see below
Explanation:
a.
Dr Petty cash. $235
Cr Cash $235
b.
Dr Office supplies. $74.5
Dr Miscellaneous Administrator expenses $92.75
Dr Miscellaneous selling expenses $18.60
Dr Cash short and over $6.35
Cr. Cash $192.20
C.
Dr Petty cash $65
Cr. Cash $65
Daguio corporation uses direct labor hours in its predetermined overhead rate. at the beginning of the year, the total estimated manufacturing overhead was $224,580. At the end of the year actual direct labor hours for the year were 18,200 hours manufacturing overhead for the year was under applied by 12,100, and the actual manufacturing overhead was $219,580. The predetermined overhead rate for the year must have been closest to:_____
Answer:
$11.40 per direct labor-hour
Explanation:
Calculation for predetermined overhead rate for the year must have been closest to
First step is to calculate the Manufacturing overhead applied using this formula
Manufacturing overhead applied = Actual overhead - Underapplied overhead
Let plug in the formula
Manufacturing overhead applied=$219,580 - $12,100
Manufacturing overhead applied= $207,480
Now let calculate the Predetermined overhead rate using this formula
Predetermined overhead rate = Estimated total manufacturing overhead / Estimated total amount of the allocation base
Let plug in the formula
Predetermined overhead rate = $207,480 / 18,200 direct labor-hours
Predetermined overhead rate = $11.40 per direct labor-hour
Therefore The predetermined overhead rate for the year must have been closest to:$11.40 per direct labor-hour
Coronado Industries is contemplating the replacement of an old machine with a new one. The following information has been gathered:
Old Machine New Machine
Price $400000 $800000
Accumulated Depreciation 120000 -0-
Remaining useful life 10 years -0-
Useful life -0- 10 years
Annual operating costs $320000 $240000
If the old machine is replaced, it can be sold for $32000. The company uses straight-line depreciation with a zero salvage value for all of its assets. The net advantage (disadvantage) of replacing the old machine is:_______
Answer:
$32,000
Explanation:
Net advantage = Annual operating cost
Net advantage = [(Old machine - New machine)*10 life] - New machine cost + Old machine cost
Net advantage = [($320000 - $240000)*10] - $800000 + $32000
Net advantage = [($80000)*10 - $768,000
Net advantage = $800,000 - $768,000
Net advantage = $32,000
So, the net advantage of replacing the old machine is $32,000
Case
Demand/supply
To the right/left
More /less (Q)
Income decrease
1
2
3
Price of raw materials decrease
4
5
6
Price of competitors decrease
7
8
9
Fill in the blanks with the correct behavior of the demand/supply curves
Type in the number relevant to it's location when answering,
ex: 1= when income decreases, supply will... and demand will...
8= When competitors price decrease, the curve will shift to the ....
Answer:
Je ne sais pas
Explanation:
Producers use market research in order to do what?
O A. Make better investment decisions
O B. Drive other companies out of business
C. Keep the costs of production low
D. Find out what consumers want to buy
Answer:A
Explanation:
Hilton's, a home-improvement store chain, reported these summarized figures:_______.
LOADING...(Click the icon to view the income statement.)LOADING...(Click the icon to view the balance sheets.)
a. Compute 's current ratio at December 31, 2017 and 2016.
b. Did 's current ratio improve, deteriorate, or hold steady during ?
a. Compute 's current ratio at December 31, 2017 and 2016. (Round your answers to two decimal places.)
First enter the formula, then compute the current ratio for each year.
_______ I _______ = Current ratio
Answer:
a. 2017 ⇒ 1.50
2016 ⇒1.58
b. Deteriorate
Explanation:
a. Current ratio 2017
= Current Assets / Current liabilities
= 6,708,700 / 4,470,000
= 1.50
Current ratio 2016
= 5,848,000 / 3,700,000
= 1.58
b. The current ratio went from 1.58 in 2016 to 1.50 in 2017 which would mean that it deteriorated.
Is accounting conservatism appropriate
Answer:
Yes, accounting conservatism is appropriate because it makes firms more cautious when registering and reporting financial information. This increased cautiousness is likely to make accounting information more accurate.
Under the principle of accounting conservatism, losses are registered when they are found to be probable, while earnings are only added when they have been fully realized. As a result, this principle results in prudent and more trustworthy financial information for all stakeholders.
Classify the following topics as relating to microeconomics or macroeconomics.
Topic Microeconomics Macroeconomics
The effect of rent control on the housing market.
The effect of an increase in income tax on national income.
A firm's decision on which production method to use.
The effect of externality on the quantity produced by the market.
A student's decision about how to allocate his time between studying two subjects.
Answer and Explanation:
Microeconomics is the study of the individual regarding the decision related to market demand and supply
While the macroeconomics would deals with the country like gross domestic product, national income etc
Based on this, the classification is as follows:
1. Microeconomics
2. Macroeconomics
3. Microeconomics
4. Microeconomics
5. Microeconomics
Consider the following data on U.S. GDP:
Year GDP
(Billions of current dollars) (Billions of 2012 dollars)
2014 17,521.7 16,899.8
2015 18,219.3 17,386.7
2016 18,707.2 17,659.2
2017 19,485.4 18,050.7
2018 20,494.1 18,566.4
The percentage change in nominal GDP from 2016 to 2017 was:_________
The percentage change in real GDP from 2014 to 2015 was__________
The percentage change in real GDP from 2014 to 2015 was higher than the percentage change in real GDP from 2015 to 2016.
a. True
b. False
Answer:
A. 4.16%
B. 2.88%
C. True
Explanation:
A. Calculation for The percentage change in nominal GDP from 2016 to 2017
Change in nominal GDP from 2016 to 2017
Change in nominal GDP= 19,485.4 / 18,707.2- 1
= 4.16%
B. Calculation for The percentage change in real GDP from 2014 to 2015
The percentage change in real GDP from 2014 to 2015
Percentage change in real GDP= 17,386.7 / 16,899 .8 - 1
Percentage change in real GDP= 0.0288 *100
Percentage change in real GDP= 2.88%
Calculation for percentage change in real GDP from 2015 to 2016 .
percentage change in real GDP= 17,659.2 / 17,386.7 - 1
percentage change in real GDP= 1.57%
TRUE The percentage change in real GDP from 2014 to 2015 which is 2.88% was higher than the percentage change in real GDP from 2015 to 2016 which is 1.57%
Businesses can be classified into the following forms: sole proprietorship, partnership, corporation, limited liability company (LLC), and limited liability partnership (LLP). Different forms of businesses have different characteristics. Which of the following characteristics would apply to a partnership?
a) Subject to unlimited personal liability
b) Income is allocated on a pro rata basis
c) Can easily raise large amounts of capital
d) Taxed at individual level
e) Chartered by a state and is its own legal entity separate and distinct from its owners and managers
f) Legal arrangement between two or more people
Answer:
b) Income is allocated on a pro rata basis
Explanation:
A partnership is an agreement between two or more people to oversee a business and share in the profit and losses made by the business.
In a partnership when income comes in it is shared.on a pro rata basis.
This means income is given based on the level of ownership of the business.
For example a partner that has 60% ownership of the partnership is expected to collect 60% of the business income.
Pro rata is also called proportional rate.
Johnson Inc. is a job-order manufacturing company that uses a predetermined overhead rate based on direct labor hours to apply overhead to individual jobs. For the current year, estimated direct labor hours are 95,000 and estimated factory overhead is $617,500. The following information is for September of the current year. Job A was completed during September, and Job B was started but not finished.
Beaver Company purchased land as a factory site for $400,000. The process of tearing down two old buildings on the site and constructing the factory required 6 months. The company paid $42,000 to raze the old buildings and sold salvaged lumber and brick for $6,300. Legal fees of $1,850 were paid for title investigation and drawing the purchase contract. Beaver Company paid $2,200 to an engineering firm for a land survey, and $68,000 for drawing the factory plans. The land survey had to be made before definitive plans could be drawn. Title insurance on the property cost $1,500, and a liability insurance premium paid during construction was $900. The contractor's charge for construction was $2,740,000. The company paid the contractor in two installments: $1,200,000 at the end of 3 months and $1,540,000 upon completion. Interest costs of $170,000 were incurred to finance the construction.
Instructions:
Determine the cost of the land and the cost of the building as they should be recorded on the books of Beaver Company. Assume that the land survey was for the building.
Answer:
When it comes to capitalizing assets, all expenses that relate to the acquisition and installation of the asset will be capitalized.
Land
= Cost of land + razing cost + Legal fees + Title insurance - Salvaged lumber
= 400,000 + 42,000 + 1,850 + 1,500 - 6,300
= $439,050
Building
= Survey cost + Drawn up factory plans + liability insurance + Construction cost + interest cost
= 2,200 + 68,000 + 900 + 2,740,000 + 170,000
= $2,981,100
Fatzinger Corporation has two production departments, Milling and Assembly. The company uses a job-order costing system and computes a predetermined overhead rate in each production department. The Milling Department's predetermined overhead rate is based on machine-hours and the Assembly Department's predetermined overhead rate is based on direct labor-hours. At the beginning of the current year, the company had made the following estimates:
Milling Assembly
Machine-hours 20,000 14,000
Direct labor-hours 2,000 7,000
Total fixed manufacturing overhead cost $137,000 $57,400
Variable manufacturing overhead per machine-hour $ 2.30
Variable manufacturing overhead per direct labor-hour $3.40
The predetermined overhead rate for the Assembly Department is closest to:__________.
Answer: $11.60
Explanation:
Predetermined overhead rate = Fixed overhead rate + Variable manufacturing overhead per direct labor-hour
Assembly Department's predetermined overhead rate is based on direct labor-hours.
Fixed overhead rate = Total fixed manufacturing overhead cost for Assembly / Direct labor hours for Assembly
= 57,400 / 7,000
= $8.20 per labor hour
Predetermined overhead rate for Assembly = 8.20 + 3.40
= $11.60
