Answer:
the desire to develop all of the required resources internally.
Explanation:
Once you have collected data for a message, you’ll need to find a way to organize it. Well-organized messages group similar ideas together, allowing readers to see relationships and follow arguments. You can use two primary techniques for organizing your information: a scratch list and an outline. Answer the question based on the following scratch list.
1. The Boston Hotel
2. High-end linens
3. 600-thread-count sheets
4. Coffeemaker and selected teas
5. Imported beer
6. Fresh-squeezed juices
7. Affordability
8. Food and drink
9. Double-thick bath towels
10. Silk pillowcases
11. Raw silk curtains with gold embellishments
12. $100/night four-star rooms
13. Free snacks, shampoo, and conditioner
14. Free wireless Internet
Which group includes specific supporting detail that could be added to the previous scratch list?
a. High-end linens; free wireless Internet; free snacks, shampoo, and conditioner
b. Safety, comfort, half-price Tuesday
c. Sparkling water, evening wine tasting, four-star hotel restaurant
d. Business messages typically follow either a direct strategy or an indirect strategy. The direct strategy, or frontloading, places the main idea at the beginning of a message.
e. Using a direct opening strategy .
f. An indirect strategy places the main idea after an explanation or reason.
Answer:
c. Sparkling water, evening wine tasting, four-star hotel restaurant
Explanation:
The scratch list in general includes a series of services that are provided by a Hotel (the Boston Hotel). Because of the items included in the list, it seems that the Hotel is quite fancy.
Numeral c would be a good addition to the scratch list, because it lists items that would fall in place for the type of Hotel being described: sparking water, evening wine tasting, and a the mention of a four-star hotel restaurant.
The Caraway Seed Company grows heirloom tomatoes and sells their seeds. The heirloom tomato plants are preferred by many growers for their superior flavor. At the end of the most recent year the firm had current assets of $49,700, net fixed assets of $248,300, current liabilities of $28,400, and long-term debt of $101,600.
A. Calculate Caraway's stockholders' equity.B. What is the firm's net working capital?
Answer:
A.
$168,000
B.
$21,300
Explanation:
A.
As per accounting equation
Assets = Liabilities + Equity
Equity = Assets - Liabilities
Placing values in the equation
Equity = ( Current assets + Net Fixed Assets ) - ( Current Liabilities + Long term debt )
Equity = ( $49,700 + 248,300 ) - ( 28,400 + 101,600)
Equity = $168,000
B.
Net Working capital is the net of current assets and current liabilities of the company.
Use following formula of net working capital
Net working capital = Current assets - current liabilities
Net working capital = $49,700 - 28,400
Net working capital = $21,300
At NikeID, you can design your own athletic shoes by selecting the material, choosing the color and even adding other personal touches. This method of using machines to do multiple tasks to produce a variety of products is known as _______ manufacturing.
Answer: flexible manufacturing
Explanation: Flexible manufacturing is the type of manufacturing system employed at NikelD, wherein customers through customization can design their own athletic shoes. As such, there is usually equipment and computerized systems configured to manufacture a variety of parts and handling changing levels of production. Doing this serves to improve efficiency while lowering the company's production costs significantly and is a characteristic feature of make-to-order strategies requiring a high degree of customization by customers. This system of manufacturing also creates a method of production designed to adapt to changes in the type and quantity of the product being manufactured very easily.
Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company.
Assume the following account balances at January 1, 2019
Accounts Receivable (control account) $7,880
Accounts Receivable-John Gibrone 4, 780
Accounts Receivable-Jim Garcia 2,090
Accounts Receivable-June Lin. 1,01
General Journal
Date 2019 Description Post Debit Credit
Ref
Jan 8 Cash 470
Accounts Receivable/John Gibrone 470
Received partial payment or account from John Gibrone
20 Sales Returns and Allowances 300
Sales Tax Payabl 24
Accounts Receivable/3im Garcia 324
Accept return of defective merchandis, Credit
Memorandum 121; original sale
made on Sales S1ip 11102 of
December 27, 2018 1.
Prepare a schedule of accounts recelvable for Calderone Company at January 31, 2019. 2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account in the general ledger at January 31, 2019?
Answer:
1. Prepare a schedule of accounts receivable for Calderone Company at January 31, 2019.
Since there is not enough room here, I prepared an excel spreadsheet. Since we are not told the credit terms of the sales, I assumed all the sales were more not past due.
2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account in the general ledger at January 31, 2019?
Of course, the balance of the accounts receivable control account should equal the total balance of the accounts receivable schedule. Even if some accounts are written off (bad debt), both the accounts receivable schedule and the general ledger accounts receivable should show that write off.
Explanation:
You have just turned 30 years old, have just received your MBA, and have accepted your first job. Now you must decide how much money to put into your retirement plan. You are required to specify a fixed percentage of your salary that you want to contribute. Assume that your starting salary is $ 70 comma 000 per year and it will grow 1.8 % per year until you retire. Every dollar in the plan earns 6.5 % per year. You cannot make withdrawals until you retire on your sixty-fifth birthday. After that point, you can make withdrawals as you see fit. You decide that you will plan to live to 100 and work until you turn 65. You estimate that to live comfortably in retirement, you will need $ 97 comma 000 per year starting at the end of the first year of retirement and ending on your 100th birthday. What percentage of your income do you need to contribute to the plan every year to fund your retirement income?
Answer:
Find attached
Explanation:
The present value of $97,000 per year after retirement for 35 years is computed thus:
=-pv(rate,nper,pmt,fv)
rate is the plan rate of return of 6.5%
nper is 35 years(years after retirement)
pmt is the amount required per year
fv is not applicable is taken as zero
=-pv(6.5%,35,97000,0)=$1,327,634.80
The amount needed in the account at retirement is the future value of the plan.
Regular yearly payment into the plan is =pmt
=pmt(rate,nper,-pv,fv)
=-pmt(6.5%,35,0,1327634.80)=$ 10,703.74
The percentage of income that must be contributed is found in the attached
On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $480 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.
Required:
Determine the price of the bonds on September 30, 2018.
Answer:
The price of the bonds today is $397.64 million (rounded off to two decimal places)
Explanation:
The price of a bond is calculated as the present value of the face value of the bond discounted at the market interest rate plus the present value of the annuity of interest payments related to the bond discounted at the market interest rate or the Yield to Maturity (YTM).
The formula for the price of the bond is attached hereby.
Semi annual coupon rate = 8%/2 = 4%
Semi annual market interest rate = 10% / 2 = 5%
Number of semi annual interest periods = 20 * 2 = 40 periods
The interest paid by the bond semi annually is = 480 * 0.04 = $19.2 million
Price of the bond = 19.2 * [(1 - (1+0.05)^-40) / 0.05] + 480 / (1+0.05)^40
Price of the bond = $397.6363855 million rounded off to $397.64 million
A consumer has $130 in monthly income to be spent on two goods Z and B. The price of good Z (Pz) is $8.00. The Marginal Rate of Transformation (MRT) is equal to minus−2. That is 2 units of good B can be traded for 1 unit of good Z. What is the price of good B in $?
Answer:
Price of B is $4
Explanation:
Marginal rate of transformation is defined as the amount of a good x has to stop being produced inorder to produce a certain amount of a good y. Factors of production and technology used are assumed to be constant.
In this scenario the marginal rate of transformation is -2, that is 2 units of good B can be traded for 1 unit of good Z, mathematically
2 * Pb = Pz
Substitute price of Z
2* Pb = $8
Pb= 8 ÷ 2
On= $4
Bond X is noncallable and has 20 years to maturity, a 9% annual coupon, and a $1,000 par value. Your required return on Bond X is 8%; if you buy it, you plan to hold it for 5 years. You (and the market) have expectations that in 5 years, the yield to maturity on a 15-year bond with similar risk will be 8.5%. How much should you be willing to pay for Bond X today
Answer:
$954.54
Explanation:
The price of the bond today is the present value of the promised cash inflows of coupon payment and repayment of face value which is computed using fv formula in excel below:
Price in 5 years time:
=-pv(rate,nper,pmt,fv)
rate is 8.5% in 5 years' time
nper is 15 years in 5 years' time
pmt is the annual coupon=$1000*9%=$$90
fv is the face value of $1000
=-pv(8.5%,15,90,1000)=$ 1,041.52
Price today:
=-pv(8%,20,90,1,041.52)=$954.54
If the Apple corporation sells a bond it is a. selling shares of ownership directly to the public. b. borrowing indirectly from the public. c. borrowing directly from the public. d. selling shares of ownership indirectly to the public.
Answer:
c. borrowing directly from the public.
Explanation:
If the Apple corporation sells a bond it is borrowing directly from the public. That is because corporate bonds are exactly that, they are bonds issued by a corporation in which the individual buying them is basically loaning money to the corporation which they will receive back the full amount that they loaned out as soon as the bond matures. Therefore by buying a corporate bond you are directly loaning that corporation money to finance their operations.
If Apple Corporation sells a bond, it is borrowing indirectly from the public. Therefore, the correct option is b.
A bond is a debt instrument issued by a corporation or government entity to raise funds. When Apple sells a bond, it is essentially borrowing money from investors or the public. In return, Apple promises to repay the principal amount of the bond along with periodic interest payments. Bonds do not involve selling shares of ownership in the company, as in the case of issuing stocks. Instead, bonds represent a form of debt financing for the issuer.
Thus, the ideal selection is option b.
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You have been asked to analyze the bids for 200 polished disks used in solar panels. These bids have been submitted by three suppliers: Thailand Polishing, India Shine, and Sacramento Glow. Thailand Polishing has submitted a bid of 3,000 baht. India Shine has submitted a bid of 3,000 rupee. Sacramento Glow has submitted a bid of $3,000. You check with your local bank and find that $1=10 baht , and $1=8 rupee. The final destination for the disks is New Delhi, India and there is a 35% import tax. Thailand Polishing and Sacramento Glow are based outside of India and India Shine is based in India.A .What is the price per unit in dollars, including import tax for Thailand polishing?B. What is the price per unit for India Shine?C. What is the price per unit for Sacramento Glow?
Answer:
(a) Thailand polishing price per unit is $2.03
(b) India shine price per unit is $1.88
(c) Sacramento glow price per unit is $15
Explanation:
(a) Thailand polishing:
Thailand polishing has submitted a quote of 3000 baht
$1 = 10 bhat
1 bhat = $ 0.1
Thailand polishing submitted bid = 3000 × $0.1 =$300
Import tax = 35%
Total cost = 1.35 × 300 = $405
Cost per unit = 405 ÷ 200 = $2.03
(b) India shine:
India shine has submitted a bid of 3000 rupees
$1 = 8 rupees
1 Rupee = $0.125
India shine submitted bid = 3000 × 0.125 = $375
Price per unit = 375 ÷ 200 = $1.88
(c) Sacramento Glow submitted bid = $3,000
price per unit = $3,000 ÷ 200
= $15
Kelly received a $60,000 salary during 2017. Her federal income tax withholding rate was 20%, and the Social Security base amount for 2017 was $118,500.What is the total amount that her employer should have withheld in 2017?
A. $15,390
B. $16,590
C. $15,979
D. $6,849
Answer: B. $16,590
Explanation:
The FICA tax rate which is the combined Social Security and Medicare rate for 2017 was 7.65%.
Assuming a base of $118,500 this means that you are taxed on your first $118,500 in earnings.
Kelly only made $60,000 so the tax rate will apply to her $60,000.
Adding that to the 20% that she is due to pay on Federal Income tax the total amount her employer withheld was,
= (60,000 * 20%) + (60,000 * 7.65%)
= 12,000 + 4,590
= $16,590
Option B is correct.
Which conditions would allow Country X to have an absolute advantage over Country Y in the
production of automobiles?
O Country X's workers eam higher wages
O Country X can manufacture cars more cheaply.
O Country Y has a protective tariff on car imports.
O Country Y subsidizes its automobile industry.
Next
Answer:
O Country Y has a protective tariff on car imports.
Explanation:
A protective tariff is "a tariff imposed to protect domestic firms from import competition "
Answer:
Country X can manufacture cars more cheaply.
Explanation:
took test
An engineer analyzing cost data about hydrogen sulfide monitors discovered that the information for the first three years was missing. However, he knew the cost in year 4 was $1250 and that it increased by 5% each year thereafter. If the same trend applied to the first three years, the cost in year 1 was:
Answer:
Find below full question:
An engineer analyzing cost data about hydrogen sulfide monitors discovered that the information for the first three years was missing. However, he knew the cost in year 4 was $1250 and that it increased by 5% each year thereafter. If the same trend applied to the first three years, the cost in year 1 was:
a. $1312.50
b. $1190.48
c. $1028.38
d. $1079.80
Option D,$ 1,079.80 is correct
Explanation:
The present value formula can be used to determine the cost in year one as follows:
PV=FV*(1+r)^-n
FV is the future cost in year 4 which is $1,250
r is the growth rate of cost per year which is 5%
n is the duration of time involved,it is 3 because the difference between year 4 and year 1 is 3
PV=$1250*(1+5%)^-3
PV=$1250*(1.05)^-3
PV=$1250*0.863837599
PV=$ 1,079.80
The cost of the hydrogen sulfide monitor in year one is $ 1,079.80
In essence option D,$ 1,079.80 is correct
A shoe manufacturer is producing at a point where its marginal costs are $5 and its fixed costs are $5000. At the current price of $10 it is producing 500 pairs. If the demand goes down, such that they can now only charge $8 per pair, should they continue production in the short run?
Answer:
In a short time, as long as the product line can be sold with a positive contribution margin, the company should continue selling it.
Explanation:
Giving the following information:
UNitary variable cost= $5
Fixed costs are $5000.
Sales= 500 units
Selling price= $8
First, we need to calculate the current income:
Income= 500*(8-5) - 5000= -$3,500
In a short time, as long as the product line can be sold with a positive contribution margin, the company should continue selling it. Demand can increase and income could become positive.
Which is not an example of an intangible asset?
1_A trademark
2_A computer
3_A patent
4_A copyright
An intangible asset excludes a computer. Thus the correct answer is (2).
What is an intangible asset?An intangible asset is referred to as a thing that an individual is unable to see or touch. An intangible asset is a lack of physical appearance. One can not transfer them from one location to another.
One can able touch or see a personal computer so it is not an intangible asset. Therefore, option (2) is appropriate.
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Identify the information that the current Generally Accepted Accounting Principles and Auditing Standards require the financial statements of an entity to show for the reporting period:_________.1. Budgeting vs actual comparisons of key balance sheet and income statement accounts2. Market value of the entity's net assets3. Number of people employed by the entity4. Investments by and distribution to owners (ex: stockholders) during the period5. Financial Position at the end of the period6. Cash flows during the period7. Earnings for the period
Answer:
4. Investments by and distribution to owners (ex: stockholders) during the period.
5. Financial Position at the end of the period.
6. Cash flows during the period.
7. Earnings for the period.
Explanation:
The information that the current Generally Accepted Accounting Principles (GAAP) and Auditing Standards require the financial statements of an entity to show for the reporting period are;
1. Investments by and distribution to owners (ex: stockholders) during the period.
2. Financial Position at the end of the period.
3. Cash flows during the period.
4. Earnings for the period.
The Financial Accounting Standards Board (FASB) issued some standards, accounting principles, and procedures to be followed by public companies in the United States of America for reporting and recording statements of income, this is known as the Generally Accepted Accounting Principles (GAAP).
The GAAP is also adopted by the Securities and Exchange Commission (SEC) to measure, analyze and regulate the stock market.
Use the following 10% interest factors. Present Value of Ordinary Annuity Future Value of Ordinary Annuity 7 periods 4.86842 9.48717 8 periods 5.33493 11.43589 9 periods 5.75902 13.57948 What amount should be recorded as the cost of a machine purchased December 31, 2020, which is to be financed by making 8 annual payments of $16000 each beginning December 31, 2021? The applicable interest rate is 10%. $182974 $92144 $85359 $112000
Answer:
The cost of the machine will be $85,358.88
Explanation:
To calculate the present value of the machine is given by:
Present value=$16000*Present value of annuity factor(10%,8)
=$16000*5.33493
= $85,358.88
Marx and Springsteen provides hair-cutting services in the local community. In February, the business cut the hair of 200 clients, earned $ 5,100 in revenues, and incurred the following operating costs:
Hair saloon expense: $500
Building rent expense: 1458
Utilities expense: 200
Depreciation expense--- Equipment: 50
Required:
What was the cost of service to provide one haircut?
Answer:
Cost of service to provide one haircut is $ 11.04
Explanation:
Hair saloon expense: $500
Building rent expense: $1,458
Utilities expense: $200
Depreciation expense --- Equipment: $50
Total operating cost = Hair saloon expense + Building rent expense + Utilities expense + Depreciation expense
= $500 + $1,458 + $200 + $50
= $ 2,208
Total hair cuts = 200
Therefore, cost per hair cut = Total operating cost ÷ Total hair cuts
= $2,208 ÷ $200
= $ 11.04
11. Which ones of the four examples below is an example of value-migration? a. No one buys typewriters anymore, but they buy PCs even to type. b. HP now produces laser printers that can accept emailed inputs as well. c. Honda used its expertise in small engines to enter the lawn-mower market d. Sony lost share in the video recorder market, but gained the camcorder market.
Answer:
a. No one buys typewriters anymore, but they buy PCs even to type.
Explanation:
Value migration can be described as the change in the value-creating forces due to the migration of value from products or business models that are outmoded to business designs that able to give better satisfaction to the priorities of customers.
Therefore, the correct option is "no one buys typewriters anymore, but they buy PCs even to type" because typewriters are outmoded while PCs are the new designs.
Eagle Adventures, Inc. stock is quite cyclical. In a boom economy, the stock is expected to return 30%, 12% in a normal economy, and negative (20%) in a recessionary period. The probability of a recession is 15%. There is a 30% chance of a boom economy. The remainder of the time, the economy will be at normal levels. What is the overall expected value of the returns on Eagle Adventures, Inc. stock
Answer:
Expected Value of the return = 12.6%
Explanation:
The expected rate of return is the weighted average of all the possible returns associated with an investment decision. The returns are weighted using the probability associated with their outcomes.
Expected return = WaRa + Wb+Rb + Wn+Rn
W- weight of the outcome, R - return of the outcome
W- Probability of the expected outcome, R- expected return under a circumstance
The probability of having a normal economy
Note that the sum of the probability of different outcomes should equal to one. Hence, the probability of economy being normal is
= 100% -(15%+30%)= 55%.
Expected Value of the return
(0.3× 30%) + (0.55× 12%) + (0.15 × -20%) =0.126
=0.126 × 100
= 12.6 %
Expected Value of the return = 12.6%
Prince Electronics, a manufacturer of consumer electronic goods, has five distribution centers in different regions of the country. For one of its products, a highspeed modem priced at $330 per unit, the average weekly demand at each distribution center is 70 units. Average shipment size to each distribution center is 350 units, and average lead time for delivery is 2 weeks. Each distribution center carries 2 weeks' supply as safety stock but holds no anticipatory inventory.a. On average, how many dollars of pipeline inventory will be in transit to each distribution center?b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers?
Answer:
a. $231,000
b. 2,450 units
Explanation:
a. On average, how many dollars of pipeline inventory will be in transit to each distribution center?
This is the inventory level that has to be in transit every 2 weeks in order to meet average demand. This can be calculated as follows:
Pipeline inventory = Number of distribution centers * Price per unit * Average weekly demand * Average delivery lead time = 5 * $330 * 70 * 2 = $231,000.
Therefore, the dollars of pipeline inventory that will be in transit to each distribution center is $231,000.
b. How much total inventory (cycle, safety, and pipeline) does Prince hold for all five distribution centers?
Inventory in hand = Average shipment size * Number of distribution centers = 350 * 5 = 1,750
Safety inventory = Number of distribution centers * Average weekly demand * Average delivery lead time = 5 * 70 * 2 = 700
Note: Safety inventory is the inventory held in the store for the purpose of meeting rise in demand or for overcoming delay in supply.
Inventory cycle = Inventory in hand - safety inventory = 1,750 - 700 = 1,050
Pipeline inventory = Number of distribution centers * Average weekly demand * Average delivery lead time = 5 * 70 * 2 = 700
Total inventory held = Inventory cycle + Safety inventory + Pipeline inventory = 1,050 + 700 + 700 = 2,450 units.
Therefore, the total inventory (cycle, safety, and pipeline) Prince holds for all five distribution centers is 2,450 units.
Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $483,000, has an estimated useful life of 10 years and an estimated residual value of $63,000. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation?
Answer: $42,000
Explanation:
Using a straight line Depreciation method means that the Equipment will be depreciated uniformly throughout it's life. i.e by the same amount.
Depreciation = (Cost - Residual Value) / Useful Life
= (483,000 - 63,000) / 10
= 420,000/10
= $42,000
The annual Depreciation amount for Year 1 - 3 is $42,000 and will be the same as long as the Equipment is in service.
Peterson Corporation wanted to run an ad campaign that featured popular songs sung by the original singer. The aim was to make an emotional connection with people who remembered the songs. When Bette was approached to sing for the commercial, she refused saying she did not "do" commercials. Peterson Corporation still wanted to use the song, so they hired a backup singer for Bette and she was told to "sound as much as possible like the Bette record." The backup singer did the commercial, and people, even close acquaintances of Bette, thought it was her. Bette sued Peterson Corporation for wrongfully appropriating her likeness.
Required:
Is this a valid example of misappropriation. Why or why not.
Answer:
Misappropriation refers to the use of another person's intellectual property including their name or likeness without prior permission from the person which can then cause harm to that person.
This is indeed an example of misappropriation because the company tried to use Bette's likeness in the commercial. After being rebuffed by Bette saying that she does not do commercials for whatever business or personal reasons known to her, they still sought to use her popularity and image to make their products more popular.
To do so they hired a backup singer and told her to sing as much like Bette as she could so much so that even Bette's close acquaintances thought that it was Bette. If her close acquaintances could think it was her, imagine the general public.
They therefore made it seem as though Bette did their commercial which then would mean that Bette does in fact do commercials which would do damage her assertion that she does not do same. This would bring harm to her business relationships if for instance she had rebuffed other companies in the past when they sought her to do their commercials.
This is a case of Misappropriation and Bette should sue.
James Company began the month of October with inventory of $19,000. The following inventory transactions occurred during the month:
A. The company purchased merchandise on account for $28,000 on October 12. Terms of the purchase were 3/10, n/30. James uses the net method to record purchases. The merchandise was shipped f.o.b. shipping point and freight charges of $540 were paid in cash.
2. On October 31, James paid for the merchandise purchased on October 12.
3. During October merchandise costing $18,600 was sold on account for $28,800.
4. It was determined that inventory on hand at the end of October cost $28,100.
Required:
1. Assuming that the James Company uses a periodic inventory system, prepare journal entries for the above transactions including the adjusting entry at the end of October to record cost of goods sold.
2. Assuming that the James Company uses a perpetual inventory system, prepare journal entries for the above transactions.
Answer:
1. Entries using periodic inventory system
October 12
J1
Purchases $28,000 (debit)
Trade Payable$28,000 (credit)
j2
Freight Charges $540 (debit)
Cash $540 (credit)
October 31
Trade Payable $28,000 (debit)
Cash $28,000 (credit)
October 31
Trade Receivable $28,800 (debit)
Revenue $28,800 (credit)
October 31
Inventory $28,100 (debit)
Cost of Goods Sold $28,100 (credit)
2. Entries using periodic inventory system
October 12
J1
Merchandise $28,000 (debit)
Trade Payable$28,000 (credit)
j2
Freight Charges $540 (debit)
Cash $540 (credit)
October 31
Trade Payable $28,000 (debit)
Cash $28,000 (credit)
October 31
J1
Trade Receivable $28,800 (debit)
Revenue $28,800 (credit)
J2
Cost of Sales $18,600 (debit)
Merchandise $18,600 (credit)
October 31
Merchandise $28,100 (debit)
Cost of Goods Sold $28,100 (credit)
Explanation:
1. Entries using periodic inventory system
With periodic system, inventory valuation is done at end of a specific period.
2. Entries using periodic inventory system
Perpetual system is the method of recalculating the value of goods held after each transaction
Dollar-value LIFO:
a. Starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
b. Increases the recordkeeping costs of LIFO.
c. Only is allowed for internal reporting purposes.
d. None of these answer choices are correct.
Answer:
a. Starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
Explanation:
Dollar-value LIFO refers a technique of accounting that employed for inventory based on the last-in-first-out model.
To obtain the dollar-value LIFO, the conversion price index that will be used to calculate the LIFO cost layer for each period must be calculated first.
Therefore, Dollar-value LIFO starts with ending inventory measured at current costs and re-creates LIFO layers for measuring inventory costs.
Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her _____.
Answer: B) customer value
Explanation:
Customer Value refers to the perception of what the good in question is worth to the customer buying it as opposed to other alternatives. Essentially, how much is it worth to the buyer vs the opportunity costs of buying it. The customer values a good when they feel like they gained more benefits than they paid for or that it was an equal trade-off and so do not mind the cost.
Laurie gained confidence and felt beautiful as a result of the attire and so decided that the cost was worth it.
Worth refers to whether the consumer feels he or she received more benefits and services than he or she paid for.
What is the customer Value?Customer value is the financial compensation that a customer receives in exchange for the amount paid for a market item.
In general, a client evaluates the net benefits of one item to those of its prospective alternatives. It aids in determining whether the client believes they received adequate value for the cost of the offering.
Thus, Option B is correct about Laurie.
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A company began its fiscal year with inventory of $191,000. Purchases and cost of goods sold for the year were $950,000 and $984,000, respectively. What was the amount of ending inventory
Answer:
Ending inventory= $157,000
Explanation:
Giving the following information:
Beginning inventory= $191,000.
Purchases and cost of goods sold for the year were $950,000 and $984,000.
To calculate the ending inventory, we need to use the following formula:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
984,000= 191,000 + 950,000 - ending inventory
984,000= 1,141,000 - ending inventory
Ending inventory= $157,000
Ravelo Corporation has provided the following data from its activity-based costing system:
Activity Cost Pools Total Cost Total Activity
Assembly $498,520 44,000 machine-hours
Processing orders $54,263 1,100 orders
Inspection $77,589 1,100 inspection-hours
Data concerning the company's product L19B appear below:
Annual unit production and sales 430
Annual machine-hours 990
Annual number of orders 70
Annual Inspection hours 20
Direct materials cost $37.74 per unit
Direct labor cost $10.45 per unit
According to the activity-based costing system, the average cost of product L19B is closest to:
a. $4819 per unit
b. $82.31 per unit
c. $85.56 per unit
d. $7753 per unit
Answer:
Activity Cost Pools Total Cost Total Activity
Assembly $498,520 44,000 machine-hours
Processing orders $54,263 1,100 orders
Inspection $77,589 1,100 inspection-hours
Explanation:
Activity Cost Pools Total Cost Total Activity
Assembly $498,520 44,000 machine-hours
Processing orders $54,263 1,100 orders
Inspection $77,589 1,100 inspection-hours
Fox Co. has identified an investment project with the following cash flows. Year Cash Flow 1 $ 1,150 2 1,030 3 1,520 4 1,880 a. If the discount rate is 11 percent, what is the present value of these cash flows
Answer:
The answer is $4,221.77
Explanation:
Present value = Cash flow/(1+r)^n
where n is the number of years
Cash flow 1:
$1,150/1.11^1
=$1,036
Cash flow 2:
$1,030/1.11^2
=$835.97
Cash flow 3:
$1,520/1.11^3
=$1,111.41
Cash flow 4::
$1,880/1.11^4
=$1,238.39
Present Value of all the cash flows is
$1,036 + $835.97 + $1,111.41 + $1,238.39
=$4,221.77
A beekeeper lives adjacent to an apple orchard. The orchard owner benefits from the bees because each hive pollinates about one acre of apple trees. The orchard owner pays nothing for this service, however, because the bees come to the orchard without his having to do anything. Because there are not enough bees to pollinate the entire orchard, the orchard owner must complete the pollination by artificial means, at a cost of $10 per acre of trees. Beekeeping has a marginal cost
MC = 10 + 5Q
where Q is the number of beehives. Each hive yields £50 worth of honey.
A) Assuming the beekeeper wishes to maxmise his profits, how many beehives will the beekeeper maintain?
B) What is the socially effiecient number of hives?
Answer:
A. The number of beehives to be maintained is 8
B. The socially effiecient number of hives is 10
Explanation:
A. In order to calculate the amount of beehives that the beekeeper will maintain assuming the beekeeper wishes to maxmise his profits we would have to use the equality of MC and the price and can be calculated as follows:
P=MC
50=10 + 5Q
Q=8
The number of beehives to be maintained is 8
B. To calculate the socially effiecient number of hives we would have to equating the marginal social benefit and marginal cost as follows:
The orchard owner must complete the pollination by artificial means, at a cost of $10 per acre of trees, therefore,
MSB=MC
50+10=10 + 5Q
Q=10
The socially effiecient number of hives is 10
