Answer:
$98,254.57
Explanation:
Value after 8 years
Future Value of Annuity = P * ((1 + r)^n - 1 ) / r
Future Value of Annuity = 6500 * ((1 + 6.8%)^8 - 1) / (6.8%)
Future Value of Annuity = 6500 * [(1.69266113113-1) / 0.068]
Future Value of Annuity = 6500 * 10.18619
Future Value of Annuity = $66,210.24
Value after 14 years
FV = PV * (1 + r )^n
FV = 66210.26*(1+ 6.8%)^6
FV = 66210.26 * 1.483978
FV = $98,254.57
So, the amount that will be there in the account 14 years from today is $98,254.57.
MC Qu. 163 Flagstaff Company has budgeted production... Flagstaff Company has budgeted production units for July of 7,500 units. Variable factory overhead is $1.3 per unit. Budgeted fixed factory overhead is $17,000, which includes $2,600 of factory equipment depreciation. Compute the total budgeted overhead to be reported on the factory overhead budget for the month.
Answer:
$26,750
Explanation:
Computation for the total budgeted overhead to be reported on the factory overhead budget for the month.
Using this formula
Total budgeted overhead=Variable factory overhead +Fixed factory overhead X
Let plug in the formula
Total budgeted overhead=($1.3*7,500 units)+$17,000X
Total budgeted overhead=$9,750+$17,000X
Total budgeted overhead=$26,750
Therefore the total budgeted overhead to be reported on the factory overhead budget for the month is $26,750
What happens in the foreign exchange market when a surplus of dollars exists? When there is a surplus of dollars in the foreign exchange market, _______.
Answer:
prices will decrease
Explanation:
The forex market is balanced when there exists when the quantity supply of any currency is equal to the quantity demanded. If the market has a surplus or shortages the rates will adjust accordingly.All companies try to have happy workers as they know the relationship between satisfaction and performance. This is why they are focusing on motivating their employees in a variety of ways. From what you have learned please suggest what companies should do to have a working place that could effectively motivate their employees.
Answer:
1. Reward and incentivize workers
2. Set smaller weekly or biweekly goals for them.
3. Foster trust between the managers and workers.
Explanation:
In order to have workers who are motivated to put in their best in the company, employers should take certain positive actions. These actions include;
1. Reward and incentivize workers: Rewards which could be monetary, as word of praise, or formal recognition can move workers to give their best. Humans are motivated when their efforts are recognized and praised. Therefore, incentivizing workers is a good way to get them motivated.
2. Set smaller weekly or biweekly goals for them: Setting humongous goals and targets can scare off and pressurize the workers. But when these large goals are broken into smaller goals, they can then be motivated to reach those goals.
3. Foster trust between the managers and workers: When workers have a sense of belonging and know that they are trusted, they will be in a more relaxed frame to achieve their goals. Unwarranted allegations and suspicions can put the workers on edge.
Rajiv loves watching Downton Abbey on his local public TV station, but he never sends any money to support the station during its fundraising drives. Economists would call Rajiv a . True or False: The government can solve the problem caused by people like Rajiv by sponsoring the show and paying for it with tax revenue collected from everyone. True False True or False: The private market can solve this problem by broadcasting Downton Abbey on cable TV, since then the good would be excludable and thus no longer a public good. True False
Answer:
free rider
true
true
Explanation:
The free rider problem is a form of market failure. It occurs when people benefit from a good or service of communal nature and do not pay to enjoy these services.
Downtown abbey can be classified as a public good, if it is made a private good, the problem would be solved
A public good is a good that is non excludable and non rivalrous.
A private good is a good that is excludable and rivalrous. They are usually exchanged in the market by private sector businesses. It
Synovec Co. is growing quickly. Dividends are expected to grow at a rate of 24 percent for the next three years, with the growth rate falling off to a constant 7 percent thereafter. If the required return is 11 percent, and the company just paid a dividend of $2.05, what is the current share price
Answer:
$84.18
Explanation:
The current share price can be determined using the two-stage dividend growth model.
In the two-stage dividend growth model, the first stage is characterised by high growth rate. In the second stage, the high growth rate falls to a steady or normal growth rate
dividend in Y1 = 2.05 x 1.24 = 2.54
dividend in Y2 = 2.05 x 1.24^2 = 3.15
dividend in Y3 = 2.05 x 1.24^3 = 3.91
Y3 = (3.91 X 1.07) / (0.11 - 0.07) = 104.59
Find the present value of these cash flows
(2.54 / 1.11) + (3.15 / 1.11²) + (3.91 / 1.11³) + (104.59/1.11³) = 84.18
Mary is currently buying apples and oranges such that the last unit of apples has 30 units of utility and the last unit of oranges has 40 units of utility. She has allocated her entire budget. If the price of an apple is 10 cents and the price of an orange is 20 cents, to maximize her utility, what should Mary do
Answer:
Buy more apples and fewer oranges
Explanation:
Utility is defined as the level of enjoyment or satisfaction that a person gets from consumption of a good or service.
Consumers logically try to maximise utility.
In the given instance we need to get the level of utility for apples and oranges to see which has more utility per unit cash spent.
For apples utility per cash spent = 30 units of utility ÷ 10 cents= 3 utility per cent
For oranges utility per cash spent = 40 units of utility ÷ 20 cents = 2 utility per cent
As apples have a higher utility per cent spent, it will be best Mary buys more apples and fewer oranges
Under absorption costing, which of the following costs would not be included in finished goods inventory? a.overtime wages paid to factory workers b.the salaries for salespeople c.hourly wages of assembly worker d.straight-line depreciation on factory equipment
Answer:
b.the salaries for salespeople
Explanation:
Absorption costing is the method of costing that tries to itemise all factors that are used in manufacturing a product. These include direct materials, direct labour, and overhead.
However there is no provision for items under contributing margin (that is costs that are derived from sales revenue). Such costs can include salaries of sales people that are taken out of sales revenue.
Other items such as overtime wages paid to factory workers, hourly wages of assembly worker, and straight-line depreciation on factory equipment are all included in absorption costing
An electronics store introduces three new types of music players to its customers. Each of the new music players are priced at $99, $79, and $59. Which psychological pricing approach is the store using to price the music players
Answer: The case of the number nine
Explanation:
Studies have shown that the human brain prefers to buy things whose prices end with the number 9 as opposed to zero such as 10 or 100.
The brain apparently interprets the number 9 at the end of a price to mean that the person is saving money and getting better value by buying the product. In making all three prices end in nine, the electronics store is using this psychological pricing strategy.
Production Budget
Pasadena Candle Inc. projected sales of 800,000 candles for the year. The estimated January 1 inventory is 35,000 units, and the desired December 31 inventory is 20,000 units.
Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Pasadena Candle Inc.
Production Budget
For the Year Ending December 31
Total units available
Total units to be produced
Answer:
Pasadena Candle Inc.
Pasadena Candle Inc.
Production Budget
For the Year Ending December 31
Total units available:
Project sales 800,000
Desired ending inventory 20,000 820,000
Beginning inventory 35,000
Total units to be produced 785,000
Explanation:
a) Data and Calculations:
Projected sales of candles for the year = 800,000 candles
January 1 inventory = 35,000 units
Desired December 31 inventory = 20,000 units
Units available for sale = 820,000 (800,000 + 20,000)
Production for the year = 785,000 (820,000 - 35,000)
Tora Co. plans to produce 1,020 units in July. Each unit requires two hours of direct labor. The direct labor rate is $20 per hour. Prepare a direct labor budget for July.\
Answer: $40,800
Explanation:
Each unit requires 2 hours of direct labor.
1,020 units would therefore require:
= 1,020 * 2
= 2,040 hours of labor
The direct labor rate is $20 per hour. If there are 2,040 hours to be worked, the cost would therefore be:
= 20 * 2,040
= $40,800
Standish Company manufactures consumer products and provided the following information for the month of February:
Units produced 131,000
Standard direct labor hours per unit 0.20
Standard fixed overhead rate (per direct labor hour) $2.50
Budgeted fixed overhead $65,000
Actual fixed overhead costs $68,300
Actual hours worked 26,350
Required:
a. Calculate the fixed overhead spending variance using the formula approach.
b. Calculate the volume variance using the formula approach.
Answer and Explanation:
The computation is shown below:
a. Fixed overhead Spending Variance is
= Budgeted Fixed Overhead - Actual Fixed overhead
= $65000 - $68300
= - $3300 (unfavorable)
b.
Fixed Overhead Volume Variance is
= (131000 × 0.20 × $2.50) - $65000
=$65500 - $65000
= $500 Favorable
In this way these can be determined
Bailey Corporation purchased a building on December 31, 2003 for $2,500,000. The building was placed in service on January 1, 2004 and was assumed to have an estimated useful life of 50 years and a zero salvage value. Bailey uses the straight line method for computing depreciation, and all applicable depreciation has been recorded through December 31, 2017. During 2018, an examination of the building by an engineering firm revealed that the remaining estimated useful life is now 15 years. What amount should Bailey record for building depreciation expense in 2018
Answer: $120,000
Explanation:
The annual depreciation will be calculated as:
= Cost/Estimated Life
= 2500000/50
= 50000
The depreciation up to 2017 will be:
= 50000 × 14
= 700000
The book value at the end of 2017 will be:
= Cost - Depreciation up to 2017
= 2500000 - 700000
= 1800000
Then, the annual depreciation with the revised life will be:
= Book Value at the End of 2017/Remaining Life
= 1800000/15
= 120000
Therefore, the amount of depreciation for 2018 will be $120000
In Washburn's factory, what is the break-even point for the new line of guitars if the retail price is (a) $349, (b) $389, and (c) $309? Also, (d) if Washburn achieves the sales target of 2,000 units at the $349 retail price, what will its profit be?
Answer:
a. 186 units
b. 156 units
c. 232 units
d. $370,000
Explanation:
a. Calculation to determine the break-even point for the new line of guitars if the retail price is $349
Using this formula
Break-even point quantity = Fixed cost / Unit price – Unit variable cost
Let plug in the formula
Break-even point quantity = ($14,000 + $4,000 + $20,000) / $349 – ($25 + $120)
Break-even point quantity= $38,000 / $349 - $145
Break-even point quantity= $38,000 / $204
Break-even point quantity= 186.27
Break-even point quantity= 186 units
Therefore the break-even point for the new line of guitars if the retail price is $349 will be 186 units
b. Calculation to determine the break-even point for the new line of guitars if the retail price is $389
Break-even point quantity = ($14,000 + $4,000 + $20,000) / $389 – ($25 + $120)
Break-even point quantity= $38,000 / $389 - $145
Break-even point quantity= $38,000 / $244= 155.74
Break-even point quantity = 156 units (Approximately)
Therefore Therefore the break-even point for the new line of guitars if the retail price is $389 will be 156 units
c. Calculation to determine the break-even point for the new line of guitars if the retail price is $309
Break-even point quantity=($14,000+$4,000+$20,000)/$309 – ($25 + $120)
Break-even point quantity= $38,000 / $309 - $145
Break-even point quantity= $38,000 / $164
Break-even point quantity= 231.71
Break-even point quantity = 232 units (Approximately)
Therefore the break-even point for the new line of guitars if the retail price is $309 will be 232 units
d. Calculation to determine what will its profit be
if Washburn achieves the sales target of 2,000 units at the $349 retail price
Using this formula
Profit = Total revenue – Total cost
Profit= (P x Q) – [FC + (UVC x Q)]
Let plug in the formula
Profit= ($349 x 2000) – [$38,000 + ($145 x 2,000)]
Profit= $698,000 – $328,000
Profit= $370,000
Therefore the profit will be $370,000
Geraldo is a customer care executive at a telecommunications service provider. He receives a complaint from a customer about an unnecessary $20 charge on his phone bill. If the company follows the customer service management process, Geraldo is most likely to _____.
Answer:
Provide a quick response to the customer using customer care software.
Explanation:
Software Programs
This is simply regarded as a service tool or software distribution model where software applications are hosted by a vendor or service provider and made available to customers over a network that is often the internet.
There are some of the software that is available. They includes the following:
Inventory managementReceivingStore Replenishment POS etc.Marketing Channel
This is used by individuals and firms involved in making a product or service available for use or consumption by consumers or industrial users.
Recessions in China and India would cause:________
a. the U.S. price level to fall and real GDP to rise.
b. the U.S. price level to rise and real GDP to fall.
c. the U.S. price level and real GDP to fall.
d. the U.S. price level and real GDP to rise.
Answer:
b. the U.S. price level to rise and real GDP to fall.
Explanation:
A recession can be regarded as macroeconomic term which is used to describe significant decline that occur in general economic activity within a designated region. It can be regarded as economic decline of two consecutive quarters which is been reflected by GDP along with some monthly indicators, this indicators could be a rise in unemployment.
For, instance Recessions in China and India would cause the U.S. price level to rise and real GDP to fall.
You view tea and scones as perfect complements, and you prefer to consumer one cup of tea with one scone. Also, your indifference curves are plotted with tea on the vertical axis. If you presently have two cups of tea and one scone, what this the marginal rate of substitution (MRS) at this point
Answer:
Infinity
Explanation:
In the case when the tea and scones are considered to be the perfect complements also you give preference one cup of tea over the one scone
Plus the indifferent curve with tea should be plotted on the vertical axis
So in the case when there is 2 cups of tea with one scone so at this point, the MRS should be at infinity as the indifference curve should be in downward sloping because we presume that there is preferences done at monotonicity
Define each of the following investment rules and discuss any potential shortcomings of each. In your definition, state the criterion for accepting or rejecting independent projects under each rule. a. Payback period. b. Average accounting return. c. Internal rate of return. d. Profitability index. e. Net present value
internal rate of return
In a hotel, 50 percent of the guests pay by American Express credit card. Suppose the first X-1 guests use NON-American Express credit cards while the Xth guest is the first to use an American Express. Then P(X>2)=0.5.
A. True
B. False
Answer:
A. True
Explanation:
Since in the question it is mentioned that in a hotel, the guest pay 50% of the amount via using the american express credit card so this means every second person could able to pay with it
so the equation should be
P(X>2) = 0.50 or 50%
Therefore the given statement is true
Hence, it cant be false
Thus, the option a is correct
Rachel is preparing to open her own raft rental business, cleverly named Rachel's Rafts. She figures out that her fixed costs will be $7,500 and her unit variable costs are $2 per raft. She plans to rent all 2,500 rafts she has on hand. What is Rachel's breakeven price
Answer:
selling price= $5
Explanation:
Giving the following information:
Fixed cost= $7,500
Unitary variable cost= $2
Break-even point= 2,500 units
The break-even point is the number of units to sell to cover the fixed costs. At this level, net income is zero.
So given the costs structure and 2,500 units to sell, the selling price that provides the break-even point is:
Break-even point in units= fixed costs/ (selling price - unitary variable cost)
2,500 = 7,500 / (selling price - 2)
2,500selling price - 5,000 = 7,500
2,500selling price = 12,500
selling price = 12,500 / 2,500
selling price= $5
Denny works for Engineers, P.A. While working on an Engineers project, Denny is injured. Under state workers' compensation laws, he will be compensated only if the injury was:________.
a. incidental
b. material
c. accidental
d. intentional
Answer:
c. Accidental
Explanation:
Since in the given situation it is mentioned that denny worked for enginners and at the time of working on an engineer project denny is injured so as per the state worker compensation loan he would be compensated only when the injury is to be considered as an accidental as the compensation is only to be provided when there is an accidental injuries
Therefore the option c is correct
Identify a key concept or foundational theory from the first four weeks of class and in half a page discuss how it applies to your current work environment or a recent social, political or business event. Include the chapter and sub topic from your textbook. g
Answer:
TQM
Explanation:
TQM concept we learned about in the first few weeks of class. For TQM to get successful, all workers need to get involved. One great practice that TQM uses is decision-making as a group. This process promotes an open conversation with productivity as people sheltering their opinions.You were asked to read U.S. Statistics in 1912 and in your writing journal, you reflected upon how different your life would be had you lived 100 years ago. The learning objective of this assignment was:__________
Explanation:
Hi, you've asked an incomplete question. However, based on inference, after consult relevant academic material, the learning objective on this particular assignment is stated below;
"To think about things like your education, career goals, romantic relationships, how you get around, and your physical health, write at least one paragraph explaining how such aspects of your life would have changed had you lived in the early 1900s."
October 1 October 31 Raw materials $ 30,000 $21,000 Work in process 48,000 37,000 Finished goods 108,000 90,000 During October, purchases of direct materials were $36,000. Direct labor and factory overhead costs were $60,000 and $84,000, respectively. What is the cost of goods manufactured
Answer:
Cost of goods manufactured= $200,000
Explanation:
Giving the following information:
October 1 October 31
Raw materials $ 30,000 $21,000
Work in process 48,000 37,000
Direct material purchase= $36,000
Direct labor= $60,000
Factory overhead costs= $84,000
First, we need to calculate the direct material used:
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 30,000 + 36,000 - 21,000
Direct material used= $45,000
Now, the cost of goods manufactured:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
cost of goods manufactured= 48,000 + 45,000 + 60,000 + 84,000 - 37,000
cost of goods manufactured= $200,000
A study has been conducted to determine if one of the departments in Mary Company should be discontinued. The contribution margin in the department is $50,000 per year. Fixed expenses charged to the department are $65,000 per year. It is estimated that $40,000 of these fixed expenses could be eliminated if the department is discontinued. These data indicate that if the department is discontinued, the company's overall net operating income would: Group of answer choices
Answer:
It is better to continue
Explanation:
Did my research
Lila Harrison is the sole employee of ABC Grocers. Her gross pay for the week was $400. She had deductions of $50 for federal income tax, $24.80 for social security tax, and $5.80 for Medicare tax. The journal entry to record her gross pay would include:
Answer:
Debit to salary expense for $400.00
Explanation:
In the case when a company is preparing the profit and loss statement so they first have the gross salary
The net salary should be
= Gross salary - deductions - taxes
Now in order to record the gross pay we have to debit to the salary expense for $400 as it increased the expense and expense contains the normal debit balance
Is increasing the entrepreneurial orientation of a firm always a good thing?
Answer:
Not always. It's a good thing to develop new business opportunities, but not if it leads to too many inefficiencies connected to resources and learning curves.
Elbert uses FedEx in a scheme to defraud Global Sales Company by obtaining merchandise to which he is not entitled. Found guilty of mail fraud, Elbert can be punished by
Answer: None of the choices.
Explanation:
The options to the question are:
a. imprisonment for up to fifty years.
b. imprisonment for up to twenty years and/or fines.
c. fines up to $5 million.
d. none of the choices
Based on the questions asked, the options provided aren't correct. It should be noted that Elbert can be punished by imprisonment in this case for a period of your to about five years as well as a fine of up to $1000.
Bramble Corp.’s cost of goods sold is $280000 variable and $170000 fixed. The company’s selling and administrative expenses are $160000 variable and $220000 fixed. If the company’s sales is $1080000, what is its net income?
Answer:
the net income is $250,000
Explanation:
The computation of the net income is given below:
= Sales - variable cost of goods sold - fixed cost of goods sold - variable selling & admin expense - fixed selling & admin expense
= $1,080,000 - $280,000 - $170,000 - $160,000 - $220,000
= $250,000
Hence, the net income is $250,000
The above formula should be applied for the same
QS 8-1 Cost of plant assets LO C1 Kegler Bowling buys scorekeeping equipment with an invoice cost of $190,000. The electrical work required for the installation costs $20,000. Additional costs are $4,000 for delivery and $13,700 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,850. What is the total recorded cost of the scorekeeping equipment
Answer: $227,700
Explanation:
The total recorded cost would include the actual cost of the equipment as well as every other cost that was incurred to transport the equipment and get it ready fir use.
Cost that will be recorded is therefore:
= Invoice cost + Installation cost + Delivery cost + Sales tax
= 190,000 + 20,000 + 4,000 + 13,700
= $227,700
Given the following information, determine the cost of goods sold at December 31 using the LIFO periodic inventory method:
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.
a. $51.75
b. $94.00
c. $50.75
d. $83.22
e. $41.30
Answer:
COGS= $297
Explanation:
Giving the following information:
December 2: 5 units were purchased at $7 per unit.
December 9: 10 units were purchased at $9.40 per unit.
December 11: 12 units were sold at $35 per unit.
December 15: 20 units were purchased at $10.15 per unit.
December 22: 18 units were sold at $35 per unit.
First, we need to calculate the number of units sold:
Number of units sold= 12 + 18= 30
Now, under the LIFO (last-in, first-out) method, the cost of goods sold is calculated using the cost of the lasts units incorporated into inventory:
COGS= 20*10.15 + 10*9.4
COGS= $297
