Answer: Sending a condolence card signed by all the employees of Sue's franchise to any customer whose dog dies
Explanation:
An organization's culture is.made up of the beliefs, values, attitudes, and the behaviors which employees share and is used on daily basis in their workplace. The culture helps employees determine how they work, and understand the organization.
Sending a condolence card signed by every employees of Sue's franchise to the customer whose dog dies expresses a value of Camp Bow Wow's culture. Camp Bow Wow expresses the service of the organization and its value through empathizing with the customer on their loss.
The following is an excerpt from the Sherman Act of 1890: "Every person who shall monopolize, or attempt to monopolize, or combine or conspire with any other person or persons, to monopolize any part of the trade or commerce . . . shall be deemed guilty of a misdemeanor, and, on conviction thereof, shall be punished by fine . . . or by imprisonment . . . or by both said punishments, in the discretion of the court."
The Sherman Act of 1890 is an example of which of the following?
a) Antitrust lawsb) Price regulations
Answer:
A. Antitrust Laws
Explanation:
Antitrust laws also known as Competition laws are rules and regulations set forth by the government of the United States to prevent the monopolization of a market as well to promote fair competition by all stakeholders in a market. The Sherman Antitrust Act of 1890 falls into this category.
The Act seeks to prohibit the monopolization of a particular trade or other acts that seek to limit trade. If found guilty by a competent court, a fine up to the tune of $10,000,000 can be imposed on organizations, $350,000 for individuals or even a 3 years time in jail.
The Federal Commissions Act, and The Clayton Act are other examples of Antitrust laws.
Brian lives in Denver and runs a business that sells pianos. In an average year, he receives $704,000 from selling pianos. Of this sales revenue, he must pay the manufacturer a wholesale cost of $404,000. He also pays wages and utility bills totaling $286,000. He owns his showroom; if he chooses to rent it out, he will receive $3,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Brian does not operate this piano business, he can work as an accountant and receive an annual salary of $20,000 with no additional monetary costs. No other costs are incurred in running this piano business.
1. Identify each of Brian's costs in the following table as either an implicit cost or an explicit cost of selling pianos:
Implicit Cost Explicit Cost
The wholesale cost for the pianos that Brian pays the manufacturer
The salary Brian could earn if he worked as an accountant
The wages and utility bills that Brian pays
The rental income Brian could receive if he chose to rent out his showroom
2. Complete the following table by determining Brian's accounting and economic profit of his piano business.
Profit $
Accounting Profit
Economic Profit
If Brian's goal is to maximize his economic profit, should he stay in the piano business or rather work as an accountant?
Answer:
Explicit cost :
The wholesale cost for the pianos that Brian pays the manufacturer
The wages and utility bills that Brian pays
Implicit cost:
The salary Brian could earn if he worked as an accountant
The rental income Brian could receive if he chose to rent out his showroom
Accounting profit = $14,000
Economic profit = $-9,000
He should stop selling painos. He should work as an accountant
Explanation:
Explicit cost is total actual cost incurred in running a business.
Implicit cost is the opportunity cost of running the piano business. It is the cost of the next best option forgone when one alternative is chosen over other alternatives.
Accounting profit = Total revenue - Total explicit cost
Total revenue = $704,000
Total explicit cost = $404,000 + $286,000 = $690,000
Accounting profit = $704,000 - $690,000 = $14,000
Economic profit is accounting profit less implicit cost or opportunity cost.
Economic profit = Accounting profit - Opportunity cost
Opportunity cost = $20,000 + $3,000 = $23,000
Economic profit = $14,000 - $23,000 = $-9,000
He should work as an accountant instead since his economic profit is negative. He would earn more working as an accountant than selling pianos
I hope my answer helps you.
During the month of July, Clanton Industries issued a check in the amount of $712 to a supplier on account. The check did not clear the bank during July. In preparing the July 31 bank reconciliation, the company should:
Answer:
The multiple choices are:
A) Deduct the check amount from the book balance of cash.
B) Add the check amount to the book balance of cash.
C) Deduct the check amount from the bank balance.
D) Add the check amount to the bank balance
The correct option is c,deduct the check amount from the bank balance
Explanation:
The check of $712 was already deducted from the cash balance in the cash book when issued,in order to reflect in the bank balance too,it would be appropriate to deduct from the bank balance so as to have a like-for-like situation.
This implies that the accountant at Clanton industries would begin bank reconciliation with bank balance in order to arrive at cash balance not the other way round.
Tom, age 13, is claimed as a dependent by his parents. Tom has unearned income of $3,400 and $300 of income from mowing lawns in the neighborhood. If the first $2,600 of Tom's net unearned income is taxed at 10%, what is Tom’s 2019 income tax liability?
Answer:
$260
Explanation:
First, we need to calculate the Taxable income as follow
Taxable income = income unearned + Income earned - Standard deduction Taxable income = $3400 + $300 - $1100
Taxable income = $2600
Now Multiply the tax rate to the taxable income to calculate the tax liability.
Tax Liability = Taxable income x Tax Rate
Tax Liability = Taxable $2,600 x 10% = $260
Using the table below, select "X" in the column that corresponds to the type of activity level referred to in each scenario.Unit Batch Product Customer Organizationala. Setting up a machine for a production run of 500 units b. Conducting a seminar for local doctors on the benefits of a new drug c. Embossing a company logo on every product made d. Seating a party of 11 at a restaurant e. Providing technical support for two years following a sale f. Managing a corporation's accounting department g. Attaching a price tag to each product h. Issuing an invoice i. Developing a corporate advertising campaign j. Recalling a defective product
Answer: Please refer to Explanation
Explanation:
There are different activities involved in making a final product by a company to get a good ready.
These Activities are divided into the levels, Unit, Batch, Product, Customer and Organizational.
Unit Level Activities are activities that are performed on the individual units. If you see an activity that focuses on a singular unit at a time, it is a Unit Level Activity.
Batch Level Activity. When units are put together in a set, they form a batch. Batch Level Activity therefore refers to those activities on a set of units at a particular time.
Product Level Activity. When taling about activities related to the entire product this is where they fall under. The entire product refers to what is being produced exactly. For instance, out of 300 units of Ford Mustangs produced, the product is the Ford Mustang. Recalling all Ford Mustangs is a Product Level Activity.
Customer Level Activities are those related to what the company does regarding those who buy it's products. As long as the activity has to do with a customer, it is a Customer Level Activity.
Finally, an Organizational Activity refers to an activity that encapsulates or affects the organization as a whole.
Classifying the above therefore,
a. production run of 500 units. BATCH LEVEL ACTIVITY as it involves multiple units.
b. Conducting a seminar for local doctors on the benefits of a new drug. PRODUCT LEVEL ACTIVITY as it speaks to the entire product.
c. Embossing a company logo on every product made. UNIT LEVEL ACTIVITY as it speaks of putting a logo on EACH UNIT.
d. Seating a party of 11 at a restaurant. BATCH LEVEL because in this case each person is a unit and putting them together creates a batch.
e. Providing technical support for two years following a sale. CUSTOMER LEVEL ACTIVITY as it involves services related to the customer.
f. Managing a corporation's accounting department. ORGANIZATIONAL LEVEL ACTIVITY as it speaks to the management of an organization wide system.
g. Attaching a price tag to each product. UNIT LEVEL ACTIVITY as it speaks to an activity related to a single unit.
h. Issuing an invoice. CUSTOMER LEVEL ACTIVITY as it deals with issuing invoices which is done to customers who have bought a good.
i. Developing a corporate advertising campaign. ORGANIZATIONAL LEVEL ACTIVITY because it is at a Corporate Level thereby affecting the entire organization. Had it been a specific product advertisement it would be a Product Level Activity.
j. Recalling a defective product. PRODUCT LEVEL ACTIVITY as it concerns the entire product in question.
Which of these statements about cycle inventory is BEST? A. Cycle inventory exists to avoid customer service problems. B. Cycle inventory is used to compensate for cycles in supply or demand. C. A change in lead time does not necessarily entail a change in cycle inventory. D. Longer lead times entail more cycle inventory is needed.
Answer:
A. Cycle inventory exists to avoid customer service problems.
Explanation:
Cycle inventory is the part of inventory kept by a supplier, that shows the amount of inventory available to satisfy demand. Cycle inventory allows the supplier to keep track of his available inventory so as to remove the problem of not meeting customers demand, which can led to loss of customers. And also to reduce the problem of over-storage that can lead to additional holding charge.
4. Valuing semiannual coupon bonds Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amount of cash flow decreases by half. Using the values of cash flows and number of periods, the valuation model is adjusted accordingly. Assume that a $1,000,000 par value, semiannual coupon US Treasury note with three years to maturity has a coupon rate of 3%. The yield to maturity (YTM) of the bond is 7.70%. Using this information and ignoring the other costs involved, calculate the value of the Treasury note: $876,205.93 $744,775.04 $1,051,447.12 $552,009.74 Based on your calculations and understanding of semiannual coupon bonds, complete the following statement: The T-note described in this problem is selling at a .
Answer:
T-note described in this problem is selling at a price of $876,205.93
Explanation:
The price of the bond can be computed using pv formula in excel as stated thus:
=-pv(rate,nper,pmt,fv)
rate is the semiannual yield which is the annual yield of 7.70% divided by 2
nper is the number of coupons payable by the bond over its three years' tenure given that coupon is paid twice a year i.e 3*2=6
pmt is the semiannual coupon payment=$1,000,000*3%*6/12=$15000
fv is the face value of $1,000,000
=-pv(7.70%/2,6,15000,1000000)=$876,205.93
Tina enrolls in additional training for her personal development. Which quality is she demonstrating?
Α.
integrity
B.
cooperativeness
C. loyalty
D.
honesty
E.
self-management
The quality she is demonstrating is self management Option(e) is correct.
What does self management means?Laborers' self-management, likewise alluded to as work management and hierarchical self-management, is a type of hierarchical management in light of self-coordinated work processes.
There are numerous varieties of self-management. In certain variations, all the laborer individuals deal with the venture straightforwardly through gatherings while in different structures laborers practice management works by implication through the appointment of expert supervisors.
Self-management might incorporate laborer oversight and oversight of an association by chose bodies, the appointment of particular supervisors, or self-coordinated management with next to no specific directors in that capacity.
The objectives of self-management are to further develop execution by giving laborers more noteworthy independence in their everyday tasks, lifting everyone's spirits, lessening distance and disposing of double-dealing when matched with representative proprietorship.
Therefore Option(d) is correct.
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If you followed Taguchi’s principles, and you wanted to investigate a design with 5 factors at 2 levels, how many experiments do you need? How many would you need if you used 5 factors at 2 levels in Classical Statistics with full factorial experiments; half factorial as well as Saturated ? Some of the students can try their own numbers such as 3 factors at 2 levels; 2 factors at 2 levels; 2 factors at 3 levels, 3 factors at 3 levels, etc… I would like each student to have a unique set of factors and levels so I can be sure that everyone understands the Taguchi principles in DoE.
Answer:
Number of full factorial experiments needed as per classical statistics is 5
Explanation:
We can use the following method to solve the given problem
Number of experiments needed as per Taguchi's principles:
No. of factors, F= 5
No. of levels, L = 2
No. of experiments, E = 1 + F*(L-1)
= 1 + 5*(2-1) = 1 + 5*1 = 6
Number of full factorial experiments needed as per classical statistics:
E = L^F
= 2^5
= 32
On its income statement for a recent year, American Airlines Group, Inc., the parent company of American Airlines, reported a net loss of $1,834 million from operations. On its statement of cash flows, it reported $675 Real World million of cash flows from operating activities. Explain this apparent contradiction between the loss and the positive cash flows. State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows
Retired $400,000 of bonds, on which there was $3,000 of unamortized discount, for $411,000.
Answer:
Find explanations below:
Explanation:
It must be understood that cash flow does not necessarily imply profit or loss.
A company may have been experiencing positive cash flows due selling mostly on a cash basis, whereas the price charged is lower than cost of per unit,hence it would have high amount of cash, whereas the bottom-line is nothing to write home about.
The cash paid on retirement which is $411,000 would impact financing activities as an outflow.
The $3000 unamortized discount would be deducted from net income
Arundel Company disclosed the following information for its recent calendar year.
Income Statement Data Selected Year-End Balance Sheet Data
Revenues $120,000 Accounts receivable decrease $29,000
Expenses: Purchased a machine for cash 20,000
Salaries expense 74,000 Salaries payable increase 24,000
Utilities expense 30,000 Other accrued liabilities decrease 15,000
Depreciation expense 29,000 Other expenses 8,500
Net loss $(21,500 )
Requried:
Prepare the operating activities section of the statement of cash flows using the indirect method.
Answer:
The Cash flows from operating activities is the following:
Net loss ($21,500)
Depreciation expense $29,000
Accounts receivable decrease $29,000
Salaries payable increase $24,000
Accrued liabilities decrease ($15,000)
Net cash provided by operating activities= $45,500
Explanation:
Accordfing to the given data, the operating activities section of the statement of cash flows using the indirect method would be as follows:
Cash flows from operating activities
Net loss ($21,500)
Depreciation expense $29,000
Accounts receivable decrease $29,000
Salaries payable increase $24,000
Accrued liabilities decrease ($15,000)
Net cash provided by operating activities= $45,500
The Net cash provided by operating activities is $45,000
Cullumber Company is considering buying equipment for $220000 with a useful life of 5 years and an estimated salvage value of $6000. If annual expected income is $28000, the denominator in computing the annual rate of return is $226000. $110000. $113000. $220000.
Answer:
Average investment(denominator) = $113,000
Explanation:
Annual rate of return is the average annual income as a percentage of average investment . It is the proportion of the average investment that is earned, on the average, as annual income.
Annual rate of return = annual net income/ average investment
Average investment =( Initial,cost + scrap value)/2
Average investment = (220,000 + 6,000)/2= $113,000
Average investment(denominator) = $113,000
If Local Co. had an increase in selling expenses of $300,000, how would that affect each of its margins?
A. Selling expenses only affect the operating margin, but the increase in such expenses will not affect the other margins.
B. Selling expenses only affect the gross margin, but the increase in such expenses will not affect the other margins.
C. Selling expenses only affect the net profit margin, but the increase in such expenses will not affect the other margins.
D. Selling expenses do not affect the gross margin, but the increase in such expenses will decrease the other margins.
Answer:
D. Selling expenses do not affect the gross margin, but the increase in such expenses will decrease the other margins.
Explanation:
As Selling expenses are charged after gross Income or profit. So, it will not effect the gross income / profit. Other margin are calculated after adjusting the selling expenses, so that will be effected. Operating Margin and Net profit margin are both effected by change in the selling expenses.
Following is the Format of income statement
Sales
Less: Cost of Sales
Gross income / Profit
Less: Operating expenses
Admin Expenses
Selling Expenses
Other Expense
Operating Income / Profit
Less: Interest expense
Less: Tax
Net Income / Profit
When there is an increase in selling expenses, we can expect that D. Selling expenses do not affect the gross margin, but the increase in such expenses will decrease the other margins.
Gross margins are calculated by deducting the cost of production or purchasing from the revenue made by the company and not selling expenses.
Gross margins are therefore not affected by selling expenses but other margins such as net margins incorporate selling expenses and so will be affected by them.
In conclusion, option D is correct.
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Atlas Transportation is considering installing temperature logger in all its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $40,000 per year for 5 years how much should the company be willing to spend now if it uses an interest rate of 12% compounded quarterly
Answer:
$144191.05
Explanation:
Solution
Recall that:
The insurance claim reduction is =$40,000
The time = 5 years
The interest rate = 5%
Now,
We find how much the company be willing to spend if it uses an interest rate of 12% compounded quarterly.
The present value is computed as follows:
The Present Value of the saving (PV) = 40000/(1+12%) + 40000/(1+12%)2 +40000/(1+12%)3 +40000/(1+12%)4 +40000/(1+12%)5
= $144191.05
Hence, the maximum amount the company should be freely spend is
= $144191.05
Carmelita Inc., has the following information available: COST FROM BEGINNING INVENTORY direct materials $2,500 Conversion cost $6,200 COST FROM CURRENT PERIOD direct materials $22,252 conversion costs $150,536 At the beginning of the period, there were 500 units in process that were 60 percent complete as to conversion costs and 100 percent complete as to direct materials costs. During the period 4,500 units were started and completed. Ending inventory contained 340 units that were 30 percent complete as to conversion costs and 100 percent complete as to materials costs. (Assume that the company uses the FIFO process cost method.) The cost of completing a unit during the current period was:__________
Answer:
The cost of completing a unit during the current period was?
$35.95 per unit
Explanation:
COST FROM BEGINNING INVENTORY 500 units:
direct materials $2,500, 100% complete
Conversion cost $6,200, 60% complete
COST FROM CURRENT PERIOD 4,500 units started and completed, 340 units left in ending inventory:
30% complete to conversion cost100% complete to direct materialscurrent period costs:
direct materials $22,252 conversion costs $150,536equivalent units of production:
direct materials = 4,500 + 340 = 4,840conversion costs = 4,500 + (500 x 40%) + (340 x 30%) = 4,802cost per equivalent unit:
$22,252 / 4,840 = $4.60 per unit$150,536 / 4,802 = $31.35 per unittotal = $4.60 + $31.35 = $35.95 per unitThe loss associated with the fact that at the profitminusmaximizing quantity consumers value the goods more than it cost to produce them is called A. Lerner Loss. B. comparative loss. C. deadweight loss. D. Consumer Value Loss.
Answer:
deadweight loss.
Explanation:
Deadweight loss can also be referred to excess burden. Deadweight loss occurs when there is an inefficiency in the market as a result of reduction in optimal production of goods and services, in this situation the equilibrium of demand and supply is distorted.
For example, deadweight loss can result from raise in price of goods and services as a result of tax. When price is raised as a result of tax, buyers tend to reduce consumption and this can reduce the production of goods. The reduced production of goods and the reduced consumption can reduce the size of the market less than optimum equilibrium.
Kline Construction is an all-equity firm that has projected perpetual EBIT of $316,000. The current cost of equity is 12.2 percent and the tax rate is 39 percent. The company is in the process of issuing $932,000 worth of perpetual bonds with an annual coupon rate of 6.4 percent at par. What is the value of the levered firm
Answer:
ANSWER IS BELOW :)
Explanation:
idk but I think its $12,560 we had a math test on it.
A stock index is currently 990, the risk-free rate is 5%, and the dividend yield on the index is 2%. Use a three-step tree to value an 18-month American put option with a strike price of 1,000 when the volatility is 20% per annum. How much does the option holder gain by being able to exercise early
Answer:
$17.27
Explanation:
As you can see in the attachment a binomial tree is made by given values
Price of the option will be $87.51
Option buyer should exercise the option in one year at lowest mode
Option holder Gain = $253.9-$236.63
= $17.27
Which of the following is NOT acceptable to use as proof of insurance when you're stopped by the police?
Answer:
A recent call from your insurance provider
Explanation:
A paper fl insurance ID is just as good as an electronic one weather its on your passengers phone and or your phone. A recent call from insurance provider could mean anything, therefore it will not stand as proof of insurance.
I hope u get what ur looking for and I wish u give me brainlist But I know u won't cuz everyone say that . But thank you so much if u put for me and It would be a very appreciated from you and again thank you so much
Sincerely Caitlin,
Thank you
Answer:
A recent call from your insurance provider
Explanation:
Flvs
Ways to address the occurrence of negative net factor income from abroad
Answer: The net factor income can be positive or negative.
Explanation:
The net factor income becomes negative when income obtained by the foreigners or native of abroad from our country is more than the income earned by us while working in abroad. This can be positive when former is less than the later.
The ways to address the negative net factor income are as follows:
1. Availing compensation from employers.
2. Earning on direct investment.
Abbott Landscaping purchased a tractor at a cost of $42,000 and sold it three years later for $21,600. Abbott recorded depreciation using the straight-line method, a five-year service life, and a $3,000 residual value. Tractors are included in the Equipment account.Required:1. Record the sale.2. Assume the tractor was sold for $13,600 instead of $21,600. Record the sale of equipment.
Answer:
Hi
Explanation:
Hi
Answer:
Please need help, to answer this question. thanks
Explanation:
An asset's book value is $21,600, on January 1, Year 6. The assets is being depreciated $300 per month using the straight-line method. Assuming the asset is sold on July 1, year 7 for $14,200, the company should record:
Wexell Framing's cost formula for its supplies cost is $1,230 per month plus $10 per frame. For the month of October, the company planned for activity toward 592 frames, but the actual level of activity was 597 frames. The actual supplies cost for the month was $7,050. The activity variance for supplies cost in October would be closest to
Answer:
Activity variance= $150 favorable
Explanation:
Giving the following information:
Standard:
Fixed costs= $1,230
Variable cost per unit= $10
Actual:
The actual level of activity was 597 frames.
The actual supplies cost for the month was $7,050.
To calculate the activity variance, we need to use the following formula:
Activity variance= actual costs - standard cost*actual activity
Standard costs= 1,230 + 10*597= 7,200
Activity variance= 7,050 - 7,200
Activity variance= $150 favorable
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department: Units: Beginning Inventory: 29,000 units, 100% complete as to materials and 60% complete as to conversion. Units started and completed: 118,000. Units completed and transferred out: 147,000. Ending Inventory: 32,000 units, 100% complete as to materials and 25% complete as to conversion. Costs: Costs in beginning Work in Process - Direct Materials: $47,000. Costs in beginning Work in Process - Conversion: $52,850. Costs incurred in February - Direct Materials: $320,650. Costs incurred in February - Conversion: $603,150. Calculate the cost per equivalent unit of conversion.
Answer:
Cost per equivalent unit = $4.23 per unit
Explanation:
Under the weighted average method of valuation, to account for completed units, it is assumed that the entire degree of work required is done in the period under consideration. So there is no separation of the completed units into opening inventory and fully worked.
Cost per equivalent unit = cost / total equivalent units
To determine the cost per equivalent unit of conversion cost , we follow the steps below
Step 1
Determine the total equivalent units
Item Equivalent units
Transferred out 100%× 147,000 = 147,000
closing inventory 25% × 32,000 = 8000
Total Equivalent unit 155,000
Step 2: cost per equivalent units
Cost per equivalent units= Total conversion cost/Equivalent units
= ( $52,850+ $603,150)/155,000 units= $4.23 per unit
Cost per equivalent unit = $4.23 per unit
=
Setrakian Industries needs to raise $71.8 million to fund a new project. The company will sell bonds that have a coupon rate of 5.78 percent paid semiannually and that mature in 25 years. The bonds will be sold at an initial YTM of 6.46 percent and have a par value of $2,000. How many bonds must be sold to raise the necessary funds
Answer:
39,183 bonds
Explanation:
In order to determine the number of bonds that must be sold to realize cash of $71.8 million,the price per bond needs to be established using pv formula in excel as found below:
=-pv(rate,nper,pmt,fv)
rate is yield to maturity of 6.46% divided by 2
nper is the number of coupon payments which is 25 years multiplied by 2 i.e 50
pmt is the amount of semiannual coupon i.e $2000*5.78%*6/12=$57.8
fv is the face value of $2000 per bond
=-pv(6.46%/2,50,57.8,2000)=$ 1,832.43
number of bonds to be issued=$71,800,000/$ 1,832.43 = 39,183 bonds
Processing of the mRNA begins before transcription of eukaryotic mRNA\'s is complete. The end of the mRNA is prepared for recognition by the ribosomes of the cell and protected from exonuclease degradation by a process called \"capping\". During this multi-step process a nucleoside is added to the end of the mRNA and then modified.
Complete the following statements about the capping process.
Capping occurs at:____
5' the end of the mRNA.
3' the end of the mRNA.
The nucleoside added is:____________ .
The nucleoside is connected to the mRNA through a:___________.
The added nucleoside is modified by methylation at:_____________ .
The mRNA is modified by methylation of:____________.
Answer:
(1) occurs at 5' end of the mRNA (2)Guanosine (3) A triphospate linkage, (4) nitrogen atom (5) methylation of ribose residues at the 2' hydroxy position
Explanation:
Solution
Given:
(1) The capping occurs at 5' end of the mRNA
(2) The nucleoside added is guanosine
(3) he nucleoside is connected to the mRNA through a triphosphate linkage
(4) The added nucleoside is modified by methylation at a nitrogen atom
(5) The mRNA is modified by methylation of ribose residues at the 2' hydroxy position
Suppose that Mystic Energy and E-Storm are the only two producers of hydrogen fuel cells. The market inverse demand curve for hydrogen fuel cells is P = 1,300 – 0.08Q, where Q is the number of fuels cells per month and P is the price per fuel cell. The marginal cost is constant at $500. Acting as a cartel, the owners of Mystic Energy and E-Storm agree to evenly split the market output. In this case, each firm produces ____.
Answer:
The amount each firm produces would be 2,500 units per month
Explanation:
According to the given data we have the following:
demand curve for hydrogen fuel cells= P = 1,300 – 0.08Q
marginal cost=$500
Therefore, in order to calculate the amount each firm produces we would have to use the following formula:
MR = MC
This gives 1300 - 0.16Q = 500 or Q = 5000 units
Therefore, The amount Each of them would be producing= 5,000/2 = 2500 amount Each of them would be producing=2,500 units per month
The amount each firm produces would be 2,500 units per month
The following events occurred for Favata Company: a. Received $13,000 cash from owners and issued stock to them. b. Borrowed $10,000 cash from a bank and signed a note due later this year. c. Bought and received $1,100 of equipment on account. d. Purchased land for $18,000; paid $1,600 in cash and signed a long-term note for $16,400. e. Purchased $6,000 of equipment, paid $1,600 in cash and charged the rest on account. Required: For each of the events (a) through (e), perform transaction analysis and indicate the account, amount, and direction of the effect (+ for increase and - for decrease) on the accounting equation. (Enter any decreases to account balances with a minus sign.)
Answer and Explanation:
The indication of the account, amount and the direction of the effect are as follows
As we know that
Accounting equation is
Total assets = Total liabilities + stockholder equity
Based on this, the indication and the direction aare as follows
Assets = Liabilities + Stockholders' Equity
A) $13,000 = 0 + $13,000
It increased both the assets and the stockholder equity i.e capital
B) $10,000 = $10,000 + 0
It increased both the assets and the liabilities
C) $1,100 = $1,100 + 0
It increased both the assets and the liabilities
D) +$18,000 -$1,600 = $16,400 + 0
It increased the land by $18,000 and decreased the cash by $1,600 and at the same time it increased the liabilities by $16,400
E) +$6,000 -$1,600 = $4,400 + 0
It increased the equipment by $6,000 and decreased the cash by $1,600 and at the same time it also increased the liabilities by $4,400
Total $44,900 = $31,900 + $13,000
Voltaic Electronics uses a standard part in the manufacture of different types of radios. The total cost of producing 36 comma 000 parts is $ 110 comma 000, which includes fixed costs of $ 50 comma 000 and variable costs of $ 60 comma 000. The company can buy the part from an outside supplier for $ 2 per unit and avoid 20% of the fixed costs. Assume that the company can use the freed manufacturing space to make another product that can earn a profit of $ 15 comma 000. If Voltaic outsources, what will be the effect on operating income?
Answer:
The net income will increase by $13,000 is the part is out source.
Explanation:
Giving the following information:
Units= 36,000 parts
Total variable cost= $60,000
Total fixed costs= $50,000
The company can buy the part from an outside supplier for $ 2 per unit and avoid 20% of the fixed costs.
Assume that the company can use the freed manufacturing space to make another product that can earn a profit of $15,000.
We need to calculate the effect on the income of buying the part.
First, we will calculate the current cost:
Production:
Total cost= total variable cost + avoidable fixed cost
Total cost= 60,000 + 10,000= $70,000
Buy:
Total cost= 36,000*2 - 15,000= $57,000
The net income will increase by $13,000 is the part is out source.
An internal control system consists of all policies and procedures used to protect assets, ensure reliable accounting, promote efficient operations, and urge adherence to company policies. Evaluate each of the following statements and indicate which are true and which are false regarding the objectives of an internal control system.
1. Separating the responsibility for a transaction between two or more individuals or departments will help prevent someone from creating a fictitious invoice and paying the money to herself or himself.
2. Separation of for assets from the custody over assets will likely increase theft and fraud.
3. The primary objective of internal control procedures is to grow the assets of the business.
4. Separation of recordkeeping for assets from the custody over assets will not prevent collusion between two or more employee to commit fraud.
Answer:
Explanation:
Evaluation of the listed internal control procedure.
1. Yes
Separating the responsibility for a transaction between two or more individuals or department known as segregation of duties will help to prevent creating of fictitious invoice for the benefit of an individual, As the role of on of these individuals is subjected to review and oversight by other people in that line of action, falsified records and actions can easily be discovered.
2.No
Separation of record keeping of assets from the custody over assets will not increase theft and fraud but rather prevent it . As different individuals are in charge of the records and the custody of the assets , it will be hard for theft and fraud of assets to take place unless there is a collusion between the people involved. If the custodian steals an assets , the record keeper can easily detect it , and a record keeper can not steal an asset as it is not in his custody
3. No
Even though the safe keeping of an asset is part of the objectives of internal control procedures , the primary objectives is not to grow assets but to safeguard the entire organization and ensure its economic, effectiveness and efficiency of its operation towards achieving its performance objectives.
4. Yes.
In as much as this is an internal control procedure to prevent fraud and theft , this can still be bypassed through collusion with employees involved to commit and cover up a fraud . While the custodian of assets release the assets , the record keeper adjusts his record to accommodate the theft of assets.
Beech Soda, Inc. uses a perpetual inventory system. The company's beginning inventory of a particular product and its purchases during the month of January were as follows: Quantity Unit Cost Total Cost Beginning inventory (Jan. 1) 16 $ 10 $ 160 Purchase (Jan. 11) 14 $ 12 168 Purchase (Jan. 20) 23 $ 15 345 Total 53 $ 673 - On January 14, Beech Soda, Inc. sold 25 units of this product. The other 28 units remained in inventory at January 31. Assuming that Beech Soda uses the LIFO cost flow assumption, the 28 units of this product in inventory at January 31 have a total cost of:
Answer:
$304
Explanation:
LIFO means last in first out. It means that it is assumed that it is the last purchased inventory that is the first to be sold.
There was a total of 53 inventories before any sales. The 25 units sold would be sold from the last purchased inventories. That is the inventory purchased on Jan 20 and 11.
The remaining inventory =
12 × $12 = $144
16 × $10 = $160
Total = $304
I hope my answer helps you
