The question is incomplete. The complete question is :
Shepherd Company manufactures two types of shoes - sneakers and boots. Each sneaker requires 2 direct labor hours and boots require 1.5 direct labor hours. The overhead rate per direct labor hour is $2. Direct materials for sneakers and boots is $15 and $20, respectively. Direct labor for sneakers and boots is $5 and $7, respectively. The total unit cost for each product is:
Solution :
The total unit cost for a product = direct materials cost + direct labor cost + overhead cost
The total unit cost for the sneakers and the boots are :
Particulars Sneakers Boots
Direct material cost $15 $20
Direct labor cost $5 $7
Overhead cost $4 $3
Total unit cost $24 $30
The overhead rate per direct labor hour is $2
So, the overhead cost per unit of :
Sneakers : 2 hours at the rate $2 per hour = $4
Boots : 1.5 hours at the rate of $2 per hour = $3
Hence the answer is : total unit cost = Sneakers: $24; Boots: $30
Fredrick purchased a property worth $150,000 on mortgage. He paid $30,000 as a down payment on this property. However, a recent slump in real estate prices forced Fredrick to sell the property for $115,000 only 2 months later. This sale is termed a(n): Group of answer choices
Answer:
Real estate short sale
Explanation:
Real estate is defined as a piece of land and any attached property that is constructed on it.
In real estate business a real estate short sale occurs when the person that owns a property decides to sell the property at a price that is less than the amount on the mortgage.
This usually occurs as a result of financial distress of the owner.
In the given scenario the property has a mortgage value of $150,000 and down payment of $30,000 has been made.
The mortgage amount is now $150,000 - $30,000 = $120,000
However they now sell the property for $115,000 which is less than the remaining mortgage value of $120,000.
This is and example of real estate short sale.
Historically, investments in the ________ have experienced the greatest returns.
Bond market
Real estate market
Stock market
Money market
Answer:
C. Stock market.
Explanation:
Stock market have experienced the greatest returns, even tho they are long term. ♥
formula for calculating weekly salary from yearly salary?
Small businesses that are just getting off the ground often have problems with the difference between cash coming into the business and cash going out of the business. For example, if the company allows far too lenient credit sales terms, customers do not pay on time, which could cause cash to come in too slowly. That's why the __________ is a key financial statement of any business.
Answer: cash flow
Explanation:
Cash flow refers to the net amount of cash and cash equivalents which is being transferred into and out of a business.
The cash flow is an important financial statement of any business. It's vital for all businesses to keep a watch on their cash flows. This is vital in knowing if the business is making a profit or loss.
Some argue that ____________ is actually in the long-term best interests of the corporation. This argument, referred to as ____________, is based on the notion that socially responsible corporations benefit by creating ____________ for themselves, thus motivating consumers to purchase their products, investors to buy their stock, and lawmakers to grant them further legal advantages.
Answer:
social responsibility; enlightened corporate self-interest; goodwill.
Explanation:
Corporate social responsibility (CSR) can be defined as a strategic management concept which typically involves socially contributing to the growth and development of the people, community and the world at large. Thus, it's an organization's obligation to act in a manner that benefits and adds significant value to the society, usually it has its business operations.
Some examples of CSR programs are building of roads, provision of electricity, water supply, establishing health care centers, awarding scholarships, etc.
A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.
Corporations can be sold to investors through stocks or shares, as a public entity. Thus, a company that engages in the sales of ownership shares to many investors is referred to as a corporation.
Actually, some economists argue that social responsibility is in the long-term best interests of any corporation that is engaged in it. This argument is simply referred to as enlightened corporate self-interest, posits that a corporation that is socially responsible benefit by creating goodwill for itself. Consequently, this would motivate consumers to purchase its products, investors to buy its stock, and lawmakers to grant the corporation further legal advantages.
Petty cash is disbursed by Manuela Luisina in the Cashier's Office. Manuela also maintains records of disbursements, places requests to the Finance Department to replace expended funds, and periodically reconciles the petty cash balance. This represents a(n) ________ segregation of duties.
Answer: Ineffective
Explanation:
Handling many job roles at the same time is one of the greatest way to be ineffective in them. When you have someone to do so many task at the same time they won't perform their best in any of the task or all of the task and would struggle most times and could wear out.
Manuela Luisina is handling so much at Petty cash which makes the segregation of duties ineffective
Zhang Industries sells a product for $700 per unit. Unit sales for May were 700 and each month's unit sales are expected to grow by 3%. Zhang pays a sales manager a monthly salary of $4,500 and a commission of 2% of sales. Compute the budgeted selling expense for the manager for the month ended June 30.
Answer: $14594
Explanation:
The budgeted selling expense for the manager for the month ended June 30 will be calculated thus:
The unit sales for June will be:
= [700 × (1 + 3%)]
= 700 × (1 + 0.03)
= 700 × 1.03
= 721 units
Commission will be:
= 2% × (721 × 700)
= $10,094
Therefore, the selling expenses to be reported will be:
= $10,094 + $4500
= $14594
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources Group of answer choices only if buyers and sellers really care, personally, about economic efficiency. even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use. even if business firms fail to produce goods efficiently. if, and only if, businesses recognize their social obligation to keep costs low and use resources wisely.
Answer:
even when each market participant cares only about their own self interest rather than about the overall efficiency of resource use.
Explanation:
A capitalist economy also referred to as free-enterprise system, pure capitalism, or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a capitalist economy is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.
Simply stated, a capitalist economy is a type of economy that is completely driven by demand and supply of goods and services.
The invisible hand principle indicates that competitive markets can help promote the efficient use of resources even when each market participant such as producer and suppliers cares only about their own self interest rather than about the overall efficiency of resource use.
The "invisible hand" concept asserts that, the self-interest by producers and suppliers of resources in a market system will automatically promote the public interest as well.
This ultimately implies that, public and private interest will always coincide assuming there exist competition in a free market system.
In conclusion, the invisible hand concept is a metaphorical description of the unforeseen forces that typically moves a free market system or economy.
Why must successful managers recognize opportunities and threats in their company external environment? a. If they identify all of the environmental threats, they are guaranteed to acquire large market share. b. If they identify all of the environmental opportunities, they are guaranteed to acquire large market share. c. If they misread the market, they are likely to become rich. d. If they miscalculate the market, opportunities will be lost.
Answer:
d. If they miscalculate the market, opportunities will be lost.
Explanation:
The external environment is the environment that cannot control by the organization. It can be in form of opportunities and threats which company have to take care off
So in the case when the managers recognize these things in the external environment so this means if they didnot calculate the market properly so the opportunities could be lost due to which they cant capture the market share of the market and the competitor took this advantage,
Betty heads the production department at Riffer Inc., a firm that stresses the importance of maintaining regular contact with customers. Betty is expecting a labor surplus in the future. Mike, a supervisor, recommends downsizing as an option to deal with this labor surplus, however, Betty rejects this option. Which statement will validate that Betty made the right decision?
Answer: Downsizing would hurt long-term organizational effectiveness.
Explanation:
Downsizing as much as to cut labour is not really a good plan on the long run due to the company gets to miss their best talents at a larger rate. One of the best way to control a labour surplus is by limiting intakes into the organization until there is a great need for one. This is what Betty made the right decision by not downsizing which would hurt the organization on a long term.
A company that uses the accrual method of accounting started the fiscal year with assets of $600,000 and liabilities of $400,000. During the fiscal year the company recorded credit sales of $250,000, of which $8,000 remained to be collected at year end, and incurred expenses of $90,000, of which $72,000 was paid in cash. A stock dividend valued at $10,000 was declared and issued to stockholders during the year. What is the year-end balance of total equity
Answer:
$360,000
Explanation:
Calculation to determine What is the year-end balance of total equity
First step
Beginning equity = Total assets - Total liabilities.
Beginning equity= $600,000 - 400,000
Beginning equity= $200,000
Second step
Net income = Revenues - Expenses
Net income= $250,000 - $90,000
Net income= $160,000
Last step
Ending balance of Equity = Beginning equity + Net income
Ending balance of Equity = $200,000 + $160,000
Ending balance of Equity = $360,000
Therefore the year-end balance of total equity is $360,000
which of the following strategies for conflict managment assumes that many conflicts are win-win conflicts
Answer: resolving
Explanation:
Conflict resolution refers to the process whereby two or more parties find a peaceful solution to a conflict. There are several ways to resolve conflict such as arbitration, negotiation, and mediation.
Resolving of a conflict is a win-win situation for both parties. This is because both parties eventually have a satisfactory outcome.
What is the percent change in price when the price drops from $6 to $5? What is the percent change in price when the price drops from $6 to $5? Assume your answer is a percent and answer a numeric value only.
Answer:
16.7%
Explanation:
100/6 = 16.666666667% = 1/6
6-5 = 1
1/6 of the price is taken away so 1/6 is the percent it dropped.
Assuming number 6, then answer in numerical value in 16.7%.
What is the price?
Pricing is a very important factor in determining how well-liked a product is in the market.
100/6 = 16.666666667%
= 1/6
6-5 = 1
The price reduced by 1/6, or 1/6 of the original amount.
As a result, 16.7% is accurate.
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Which statement accurately depicts an advantage that small business has over big business? Multiple Choice If the small business owner can project his business as being big, if not very similar to big businesses that sell in the same industry, then he will realize a significant advantage. The size of the business (small being better in this case) is an important consideration in the management of legal, payroll, and tax concerns. The slower pace of small businesses translates into better quality for its customers. A small business can maneuver and change quicker than most large businesses can. It can react to market conditions and customer concerns much faster.
Answer:
It can react to market conditions and customer concerns much faster.
Explanation:
Small businesses have either of the the following characteristics
they are privately owned partnerships or corporationsthey are sole proprietorshipthey require less capital they do not have a large number of workforceLarge businesses have either of the the following characteristics
they are usually publicly ownedthey have a large number of workforceAdvantages of Small businesses over large businesses
they are more flexible they have a better customer relationthey are better able to specialise in a particular area there is greater opportunity for employee developmentEconomic profit is defined as _____ Question 17 options: a) total revenue plus what must be paid to resources to attract them from their best alternative use. b) total revenue divided by what must be paid to resources to attract them from their best alternative use. c) the price of the goods sold minus the quantity of goods sold. d) total revenue minus what must be paid to resources to attract them from their best alternative use. e) total revenue minus the cost of the goods produced.
Answer:
d) total revenue minus what must be paid to resources to attract them from their best alternative use.
Explanation:
In Financial accounting, the total operating income can be defined as the sum total of the profit of a business firm (company) after its regular, recurring costs and expenses have been deducted. Thus, it's the amount of revenue generated by a business firm (company) after subtracting all operating expenses and cost of goods sold (COGS).
Mathematically, the total operating income of a business is calculated by subtracting the indirect expenses incurred by the business firm from its total direct operating margin.
On a related note, profit is calculated by subtracting the cost price of an item from the selling price of the item. Thus, a profit is generated when the operating costs are subtracted from the total revenue generated.
In conclusion, economic profit is defined as total revenue minus what must be paid to resources to attract them from their best alternative use.
On January 1, year 1, Eber Co. leased equipment under a four-year capital lease. The present value of minimum lease payments is $348,680. The equipment had a five-year economic life and a $20,000 guaranteed residual value. The equipment reverted to the lessor at the end of the lease. What amount should Eber report as depreciation expense at December 31, year 1?
Answer:
$87,170
Explanation:
Calculation to determine What amount should Eber report as depreciation expense at December 31, year 1
Using this formula
Depreciation expense at December 31, year 1=Present value of minimum lease payments /Capital lease years
Let plug in the morning
Depreciation expense at December 31, year 1= $348,680 / 4 years
Depreciation expense at December 31, year 1= $87,170
Therefore Depreciation expense at December 31, year 1 is $87,170
Electronic Wonders reports net income of $96,500. The accounting records reveal Depreciation Expense of $50,200 as well as increases in Prepaid Rent, Accounts Payable, and Income Tax Payable of $38,500, $23,900, and $20,400, respectively. Prepare the operating activities section of Electronic Wonders' statement of cash flows using the indirect method. (Amounts to be deducted and negative values should be indicated by minus sign.)
Answer:
$152,500
Explanation:
Preparation of the operating activities section of Electronic Wonders' statement of cash flows using the indirect method
Cash flows from operating activities:
Net Income $96500
Adjustments for noncash effects:
Depreciation expense $50,200
Changes in current assets and current liabilities:
increase in accounts payable $23,900
Increase in income tax payable $20,400
Less Increase in prepaid rent ($38,500)
Net cash flows from operating activities $152,500
Therefore the operating activities section of Electronic Wonders' statement of cash flows using the indirect method is $152,500
The Sarbanes-Oxley Act: Group of answer choices protects American consumers from fraudulent foreign business practices. imposes penalties on foreign firms that try to bribe U.S. officials. requires that financial officers and CEOs personally certify the validity of their financial statements. prevents workplace discrimination based on age, gender, or race.
Answer:
requires that financial officers and CEOs personally certify the validity of their financial statements
Explanation:
Consider an economy described by the combined Solow and Romer model. If this economy is on its balanced growth path when an exogenous permanent increase in the depreciation rate occurs: Group of answer choices the level of output per capita on the new balanced growth path will remain unchanged the growth rate of output per capita will remain unchanged there will be an immediate growth effect the economy will not exhibit transition dynamics
Answer:
there will be an immediate growth effect
Explanation:
In the case of Solow model, if there is an increase in the growth rate of population so it improves the growth of the aggregate output but at the smae time there is no impact on growth of per capita production in the long term
Also, the level of per capita output of steady rate should declines when the growth rate of population increased
Therefore the above statement should be the answer
A travel company sells tours in Costa Rica on its website. Instead of designing the website themselves, the company hired an outside software development company to design, run, and manage the website for them. This is an example of Multiple choice question. accessing capabilities through a collaborative partnership. matching organizational structure to strategy. acquiring capabilities through mergers and acquisitions. internal development.
Time Remaining 28 minutes 51 seconds00:28:51 Item 6 Time Remaining 28 minutes 51 seconds00:28:51 A high-level manager gathers his team of supervisors together to create a new office policy that will affect all employees at the company. After receiving a verbal okay from the supervisors, he then proceeds to pass around a written form of the new policy and asks all members of the team to initial it. He explains to the supervisors that the new policy will be posted in the break rooms on each floor of corporate headquarters. If you were a part of this work team, which question would you ultimately ask yourself before initialing your approval of this policy?
Answer: How will it make me feel about myself?
Explanation:
The options to the question include:
A. Is it legal?
B. Is it balanced?
C. How will it make me feel about myself?
D. Is it a lose-lose situation?
If I were a part of this work team, the question that I would ask myself before initialing the approval of this policy is that "how will this make me feel about myself?"
In this case, I'll need to know the impact of the policy and his I could be affected by it if I initial it and how I'll eventually feel about it.
Nintendo built a security chip into its game console hardware and then licensed the right to develop games to outside firms. These firms paid a royalty to Nintendo for each copy of the game sold. This is an example of Nintendo using ________ products. a. complement b. substitute c. differentiated d. unrelated
Answer:
a. complement
Explanation:
A product can be defined as any physical object or material that typically satisfy and meets the demands, needs or wants of customers. Some examples of a product are mobile phones, television, microphone, microwave oven, bread, pencil, freezer, beverages, soft drinks, etc.
In this scenario, Nintendo built a security chip into its game console hardware and then licensed the right to develop games to outside firms. Subsequently, royalties are then paid by the business firms to Nintendo for each copy of the game sold. Thus, this is an example of Nintendo using complement products.
A complementary product can be defined as any product that's typically used in conjunction with another product and as such it adds value to the other product.
Classify the following exchanges as "Qualifying" or "Not Qualifying" as a like-kind exchange under § 1031. Qualifies / Not Qualifying a. Improved for unimproved real estate b. Rental house for personal residence c. Business land for rental house (held for investment) d. Warehouse for office building (both used for business) e. Truck for computer (both used in business) f. Rental house for land (both held for investment) g. Office furniture for office equipment (both used in business) h. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain i. General partnership interest for a general partnership interest
Answer:
a. Improved for unimproved real estate
Classification: Qualifying
b. Rental house for personal residence
Classification: Not Qualifying
c. Business land for rental house (held for investment)
Classification: Qualifying
d. Warehouse for office building (both used for business)
Classification: Qualifying
e. Truck for computer (both used in business)
Classification: Not Qualifying
f. Rental house for land (both held for investment)
Classification: Qualifying
g. Office furniture for office equipment (both used in business)
Classification: Not Qualifying
h. Unimproved land in Jackson, Mississippi, for unimproved land in Toledo, Spain
Classification: Not Qualifying
i. General partnership interest for a general partnership interest
Classification: Not Qualifying
In 2003, the fraudulent accounting practices at ____________, a Houston-based energy company, was the largest of several business scandals of the early 21st century, in which corporate executives inflated company revenues for self-gain and ultimately created widespread distrust of corporate culture, costing investors billions of dollars as well as employees their pensions.
Answer: Enron
Explanation:
Enron scandal was an accounting scandal that involved Enron Corporation, which was an American energy company that was based in Houston, Texas.
Enron hid huge amount of trading losses, which led to its bankruptcy. The company used fraudulent accounting practices in order to inflate the revenue of the company and.hid the debt that the company incurred.
4. Please describe the five types of financial ratio analyses. Please provide and briefly discuss 2 ratios from each of the five types of analysis. Please perform each of the above five types of analysis using two ratios from each for any publicly traded company that you wish except, Pepsico, Apple, and Kroger. Please go to Yahoo finance, type in the name of the company, go to financial statements as summarized on Yahoo. You can use the latest quote as the stock price for any valuation ratios that you use involving stock price. You cannot provide ratios already provided in the stock summary.
Answer:
We have five broadly categorized financial ratio analyses like Leverage, Liquidity, Profitability, Efficiency, and market price ratios. The liquidity Ratio gives us information over what proportion of current liabilities are being paid off by the corporate annually and the way effectively current assets are put to use. We use the present ratio to urge to understand the company's ability to pay off short-term liabilities.
Market price ratios consider calculating shareholders' value with reference to the dividend they provide, earnings, and market value. Earning share per Price may be a ratio where analysts consider calculating for the aim of knowing what proportion of income is being generated for every share. PE ratio is that the Price Earnings ratio which is employed in comparative analysis among industries and corporations. The profitability ratio determines what proportion maybe a company ready to produce using its assets and equity.
Return on Assets calculates what proportion returns are the assets are ready to produce the cash flows, also Return on Equity calculates what proportion returns are often generated as a profit or gain to the shareholders. Efficiency ratios discuss how capable are the assets in producing the returns or gains. Inventory Turnover Ratio discusses what proportion the last time inventory has been sold off. The assets ratio is beneficial in going to skills much credit given to the purchasers must be gained.
If a 10 percent increase in income induced a group of consumers to reduce their yearly purchases of eggs by 5 percent, for these consumers, Group of answer choices the income elasticity of eggs equals approximately 1.05. the income elasticity of eggs is 0.5. eggs are a luxury good. eggs are an inferior good.
Answer:
the income elasticity of eggs is 0.5.
Explanation:
Inferior goods are goods whose demand falls when income rises and increases when income falls.
Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.
income elasticity = percentage change in quantity demanded / percentage change in income
5/10 = 0.5
If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.
If the absolute value of income elasticity of demand is less than one, it means demand is inelastic.
Carrington Company uses the allowance method for recording bad debts. On February 1, Carrington wrote off a $3,500 customer account balance when it became clear that the particular customer would never pay. On May 29, Carrington unexpectedly received a check for $3,500 from the customer. On May 29, Carrington will: A. Debit Allowance for Doubtful Accounts and credit Accounts Receivable for $3,500; debit Cash and credit Bad Debt Expense for $3,500. B. Debit Allowance for Doubtful Accounts and credit Bad Debt Expense for $3,500; debit Cash and credit Accounts Receivable for $3,500. C. Debit Accounts Receivable and credit Allowance for Doubtful Accounts for $3,500; debit Cash and credit Accounts Receivable for $3,500. D. Debit Cash and credit Bad Debt Expense for $3,500; debit Accounts Receivable and credit Allowance for Doubtful Accounts for $3,500.
Answer:
C. Debit Accounts Receivable and credit Allowance for Doubtful Accounts for $3,500; debit Cash and credit Accounts Receivable for $3,500.
Explanation:
The journal entry is given below:
Account receivable Dr $3,500
To allowance for doubtful debts $3,500
(being the account receivable is recorded)
Here account receivable is debited as it increased the assets and credited the allowance as it decreased the assets
Cash dr $3,500
To account receivable $3,500
(being collection is recorded)
Here cash is debited as it increased the assets and credited the account receivable as it decreased the assets
On January 1, 2016, Weaver Company purchased as held-to-maturity debt securities $500,000 face value of Park Corporation's 8% bonds for $456,200. The bonds were purchased to yield 10% interest and pay interest annually. The bonds mature on January 1, 2021. Weaver uses the effective interest method of amortization. What amount should Weaver report on its December 31, 2016, balance sheet as an investment in held-to-maturity debt securities
Answer:
$461,820
Explanation:
Calculation to determine What amount should Weaver report on its December 31, 2016, balance sheet as an investment in held-to-maturity debt securities
First step
Amortization of discount= Purchased value of bond × interest rate of return - face value of bond × interest rate
Amortization of discount= $456,200 × 10% - $500,000 × 8%
Amortization of discount= $45,620 - $40,000
Amortization of discount= $5,620
Now the amount reported is
investment in held-to-maturity debt securities= Purchased value + discount amortization
investment in held-to-maturity debt securities= $456,200 + $5,620
investment in held-to-maturity debt securities= $461,820
Therefore What amount should Weaver report on its December 31, 2016, balance sheet as an investment in held-to-maturity debt securities is $461,820
Mutt and Jeff each have a 50% interest in Keni Partnership. The partnership and the individuals file on a calendar-year basis. For its Year 4 tax year, Keni had a $30,000 loss. Mutt's adjusted basis in the partnership interest on January 1, Year 4, was $8,000. In Year 5, Keni partnership had a profit of $28,000. Assuming that there were no other adjustments to Mutt's basis in the partnership in Year 4 and Year 5, what amount of partnership income (loss) would Mutt show on his Year 4 and Year 5 individual income tax returns
Answer:
A partner's distributive share of partnership loss is allowed only to the extent of the adjusted basis of the partner's partnership interest:
Computation:
Year 4 Year 5
Mutt's share of profit(loss) at 50% ($15,000) $14,000
Basis 8,000 0
Unallowed loss (carryover) ($ 7,000) ($ 7,000)
Taxable income(loss) allowed ($ 8,000) $ 7,000
How do I view my work schedule Six Flags?
Answer:
you should have an username and password and just log in with six flag . try going to https://six.flag.team
Explanation:
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