In this scenario, The court will decide in favor of the dryer company.
This is because the offer of the business to Katz involved both a task of freedom and a designation of obligations. Even though Jones appointed Katz the obligation to make installments under the agreement with Dryer Organization, she stays at risk to Dryer Organization for Katz's inability to perform and should make the portion installments to Dryer Organization on the off chance that Katz doesn't do as such.
Judgment for Dryer. Jones designated to Katz the obligation to make installments, however, she stays at risk to Dryer Organization for Katz's inability to perform and should make the portion installments on the off chance that Katz doesn't do as such.
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FOR JOURNALISM!!
Please post detailed answers to the following questions. Please use complete sentences.
There are many news organizations that cater to a specific audience or perspective. Give an example of one of these and explain the positive and negative consequences of this kind of specialized media
An example of one of these can be Fox news. Fox News is a news organization with a conservative slant that presents news from a conservative viewpoint.
One benefit of specialized media like Fox News is that it can cater to the preferences and interests of a particular audience. Specialized media can present a distinct viewpoint that may not be featured in mainstream media. For instance conservative viewers might value the chance to read news articles with a conservative slant because it can make them feel more informed and involved.
Specialized media can also have unfavorable effects. It may result in an "echo chamber" where viewers only hear one viewpoint, which could reinforce preexisting biases and impede critical thinking. Specialized media outlets may also spread propaganda and false information which can exacerbate political polarization and undermine trust in more established news organizations.
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a small-business owner must deal with ongoing worries about competition, employee problems, rent increases, or changing market demand. all of these are contributing factors to which disadvantage of small-business ownership?
One of the significant disadvantages of small-business ownership is the inherent uncertainty and risk associated with running a business.
A small-business owner must deal with various challenges, including competition, employee problems, rent increases, and changing market demand. These challenges can make it challenging to predict and control business outcomes, which can lead to financial and personal stress.
In particular, the competition can be a significant challenge for small-business owners. Small businesses often lack the economies of scale that larger firms enjoy, which can make it harder to compete on price or to offer a broader range of products or services.
Employee problems, such as low morale or high turnover, can also impact a small business's ability to operate efficiently and effectively.
Furthermore, rent increases and changing market demand can disrupt a small business's operations and profitability. Rent increases can eat into the business's bottom line, while changing market demand may require the business to adapt quickly to remain competitive.
Overall, small-business ownership can be challenging and uncertain, and business owners must be prepared to manage these risks to succeed in the long term.
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cross price elasticity measures group of answer choices the change in quantity demanded for one good due to a change in the price of another good. how sensitive quantity demanded is to a change in price. the change in quantity demanded when income changes. how complements and substitutes differ from one another
Cross price elasticity measures the change in quantity demanded for one good due to a change in the price of another good. It measures how sensitive quantity demanded is to a change in price.
Cross price elasticity measures the percentage change in the quantity demanded for one good, in response to a percentage change in the price of another good. It is important to note that cross price elasticity does not measure the change in quantity demanded due to a change in income.
Complements are goods that are typically used in conjunction with one another. Examples of complements include a peanut butter and jelly sandwich, cars and gasoline, and laptops and software. A change in the price of one good will affect the demand of the other good.
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Both employer and employee are responsible for paying a set percentage of the employee's earnings. What is the name of this payroll tax? Select one: a. Federal Insurance Contributions Act withholdings b. Family Medical Leave Act withholdings c. Employee Retirement Income Security Act withholdings d. Consolidated Omnibus Budget Reconciliation Act withholdings
The payroll tax that is responsible for the employer and employee paying a set percentage of the employee's earnings is known as "Federal Insurance Contributions Act withholdings". Option A is the answer.
The Federal Insurance Contributions Act (FICA) is a payroll tax levied on both workers and employers in the United States to fund Social Security and Medicare programs. The amount of FICA tax withheld from an employee's paycheck is determined by the employee's income and the current FICA tax rate.
The employer and employee each contribute half of the total FICA tax, which is a set percentage of the employee's gross earnings.The Federal Insurance Contributions Act withholdings option (a) is the correct answer to the given question.
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granite company purchased a machine costing $118,800. granite paid freight charges of $2,000. the machine requires special mounting and wiring connections costing $10,000. when installing the machine, $1,300 in damages occurred. compute the cost recorded for this machine.
To compute the cost recorded for this machine, we need to add the purchase price, freight charges, and installation costs, and subtract the amount of damages incurred during installation.
Purchase price: $118,800
Freight charges: $2,000
Installation costs: $10,000
Less damages: $1,300
Total cost recorded for the machine: $118,800 + $2,000 + $10,000 - $1,300 = $129,500. Therefore, the cost recorded for this machine is $129,500. This amount represents the total cost of acquiring and installing the machine and includes all the direct costs associated with the purchase, delivery, and installation, as well as any adjustments made for damages incurred during installation.
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Payback and ARR Each of the following scenarios is independent. All cash flows are after-tax cash flows. Required: 1. Brad Blaylock has purchased a tractor for $96,250. He expects to receive a net cash flow of $32,500 per year from the investment. What is the payback period for Jim? Round your answer to two decimal places. __ years 2. Bertha Lafferty invested $357,500 in a laundromat. The facility has a 10-year life expectancy with no expected salvage value The laundromat will produce a net cash flow of $117,000 per year. What is the accounting rate of return? Enter your answer as whole percentage value (for example, 16% should be entered as "16" in the answer box). ___ % 3. Melannie Bayless has purchased a business building for $337,000. She expects to receive the following cash flows over a 10- year period: Year 1: $42,500 Year 2: $57,500 Year 3-10: $86,400 What is the payback period for Melannie? Round your answer to one decimal place. __ years/ What is the accounting rate of return? Enter your answer as a whole percentage value (for example, 16% should be entered as "16" in the answer box). __ %
The payback period for Brad's tractor investment is approximately 2.96 years, Bertha's laundromat investment has an accounting rate of return of 3.28%, and Melannie's building investment has a payback period of approximately 3.98 years and an accounting rate of return of 22.05%.
The payback period for Brad's tractor investment can be calculated by dividing the initial cost of the tractor ($96,250) by the expected annual net cash flow ($32,500).
Payback period = Initial cost / Annual net cash flow = $96,250 / $32,500 = 2.96 years (rounded to two decimal places)
Therefore, it will take Brad approximately 2.96 years to recover the initial cost of the tractor.
The accounting rate of return (ARR) for Bertha's laundromat investment can be calculated by dividing the average annual profit by the initial investment and expressing the result as a percentage.
Average annual profit = Net cash flow / Useful life = $117,000 / 10 years = $11,700 per year
ARR = (Average annual profit / Initial investment) x 100% = ($11,700 / $357,500) x 100% = 3.28% (rounded to two decimal places)
Therefore, the accounting rate of return for Bertha's laundromat investment is 3.28%.
To calculate the payback period for Melannie's building investment, we need to calculate the cumulative net cash flow for each year until it equals the initial cost of the building.
Year 1 cumulative net cash flow = $42,500
Year 2 cumulative net cash flow = $100,000 ($42,500 + $57,500)
Year 3 cumulative net cash flow = $186,400 ($100,000 + $86,400)
Year 4 cumulative net cash flow = $272,800 ($186,400 + $86,400)
Year 5 cumulative net cash flow = $359,200 ($272,800 + $86,400)
Year 6 cumulative net cash flow = $445,600 ($359,200 + $86,400)
Year 7 cumulative net cash flow = $532,000 ($445,600 + $86,400)
Year 8 cumulative net cash flow = $618,400 ($532,000 + $86,400)
Year 9 cumulative net cash flow = $704,800 ($618,400 + $86,400)
Year 10 cumulative net cash flow = $791,200 ($704,800 + $86,400)
Since the cumulative net cash flow exceeds the initial cost of the building ($337,000) in year 4, but not in year 3, the payback period is between 3 and 4 years. To estimate the exact payback period, we can use linear interpolation:
Payback period = Year before payback + (Unrecovered cost at the start of the year / Net cash flow during the year)
Payback period = 3 + [(337,000 - 186,400) / 86,400] = 3.98 years (rounded to one decimal place)
Therefore, it will take Melanie approximately 3.98 years to recover the initial cost of the building.
To calculate the accounting rate of return for Melannie's building investment, we need to calculate the average annual profit and divide it by the initial investment, and express the result as a percentage.
Average annual profit = (Net cash flows for years 1-10) / 10 = ($42,500 + $57,500 + ($86,400 x 8)) / 10 = $74,350 per year
ARR = (Average annual profit / Initial investment) x 100% = ($74,350 / $337,000) x 100% = 22.05% (rounded to two decimal places)
Therefore, the accounting rate of return for Melannie's building investment is 22.05%.
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Long-Term Financing NeededAt year-end 2019, Wallace Landscaping's total assets were $2. 40 million, and its accounts payable were $405,000. Sales, which in 2019 were $3. 2 million, are expected to increase by 35% in 2020. Total assets and accounts payable are proportional to sales, and that relationship will be maintained. Wallace typically uses no current labitles other than accounts payable. Common stock amounted to $475,000 in 2019, and retained earnings were 5235,000. Wallace has arranged to sell $55,000 of new common stock in 2020 to meet some of its financing needs. The remainder of its financing needs will be met by Issuing new long-term debt at the end of 2020. (Because the debt is added at the end of the year, there will be no additional interest expense due to the new debt. ) Its net profit margin on sales is 6%, and 45% of earnings will be paid out as dividends. A. What was Wallace's total long-term debt in 2019? Do not round Intermediate calculations. Enter your answer in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round your answer to the nearest dollar, What were Wallace's total abilities in 2019? Do not found intermediate calculations, enter your answer in dollars. For example, an answer of $2 million should be entered as 2,000,000. Round your answer to the nearest dollar b. How much new long-term debt financing will be needed in 2007 in N New stock. Now long term debt. ) Do not found intermediate calculations. Enter your answer in dolara For example, an answer of $2 million should be entered an 2,000,000, Round your answer to the nearest dollar
Wallace did not have any long-term debt at the end of 2019. The new long-term debt financing needed in 2020 will be $3,050,479.
a. To calculate Wallace's total long-term debt in 2019, we need to first calculate its total liabilities. We know that its total assets were $2.40 million, and its accounts payable were $405,000. We are also given that total assets and accounts payable are proportional to sales, so we can use this information to calculate the total liabilities:
Total assets = $2.40 million
Accounts payable = $405,000
Sales = $3.2 million
Accounts payable as a percentage of sales = $405,000 ÷ $3.2 million = 0.1266
Total liabilities as a percentage of sales = accounts payable as a percentage of sales = 0.1266
Total liabilities = total assets × total liabilities as a percentage of sales = $2.40 million × 0.1266 = $303,840
To calculate the total long-term debt, we need to subtract the current liabilities (accounts payable) from the total liabilities:
Total long-term debt = Total liabilities - Accounts payable = $303,840 - $405,000 = -$101,160
It's important to note that a negative result for total long-term debt indicates that the company did not have any long-term debt at the end of 2019.
b. We know that Wallace will sell $55,000 of new common stock in 2020, so we can use this information along with the projected increase in sales to calculate the financing needed from new long-term debt:
Projected sales for 2020 = $3.2 million × 1.35 = $4.32 million
Projected total assets for 2020 = $2.40 million × 1.35 = $3.24 million
Projected total liabilities for 2020 = projected total assets × total liabilities as a percentage of sales = $3.24 million × 0.1266 = $410,544
Projected accounts payable for 2020 = projected total liabilities × accounts payable as a percentage of total liabilities = $410,544 × 0.1266 = $52,009
To calculate the total financing needed, we need to subtract the projected increase in equity (from the new common stock sale) and the projected increase in retained earnings from the projected total assets:
Projected increase in equity = $55,000
Projected increase in retained earnings = (6% net profit margin × $4.32 million) × (1 - 45% dividend payout ratio) = $82,512
Financing needed = projected total assets - projected increase in equity - projected increase in retained earnings - accounts payable = $3.24 million - $55,000 - $82,512 - $52,009 = $3,050,479
Therefore, the new long-term debt financing needed in 2020 will be $3,050,479.
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question 9 what is the goal of market research? to identify stakeholders and how to best meet their needs to gain goodwill with consumers by utilizing public relations to increase competitiveness by clarifying relationships that affect the marketing decisions to conduct studies on customer responses to the marketing mix to determine which research method will deliver the most effective results
The goal of market research is to conduct studies on customer responses to the marketing mix to determine which research method will deliver the most effective results.
The goal of market research is to conduct studies on customer responses to the marketing mix in order to gain insights into customer behavior, preferences, and needs. The primary objective of market research is to provide companies with information that can be used to make informed decisions about product development, pricing, promotion, and distribution.
By understanding the target market and their needs, companies can create more effective marketing strategies and improve their overall competitiveness. Market research can help companies identify opportunities for growth, evaluate the effectiveness of current marketing efforts, and develop new products and services that meet the needs of customers.
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planned investment spending, a component of aggregate demand, is equal to a. fixed investment plus unplanned inventory investment. b. fixed investment. c. fixed investment plus planned inventory investment. d. fixed investment plus actual inventory investment.
Planned investment spending, a component of aggregate demand, is equal to fixed investment plus planned inventory investment. Option (1)
This represents the total amount that firms plan to invest in new capital equipment, structures, and inventories over a certain period of time. Fixed investment refers to the purchase of long-term assets such as machinery, buildings, and land, while planned inventory investment is the amount of inventory that firms plan to hold in order to meet anticipated sales. T
This planned investment spending can be influenced by various factors such as interest rates, business expectations, and government policies, and can have a significant impact on the overall level of economic activity.
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Full Question: planned investment spending, a component of aggregate demand, is equal to
a. fixed investment plus unplanned inventory investment
b. fixed investment.
c. fixed investment plus planned inventory investment.
d. fixed investment plus actual inventory investment.
SBI communicates voluntary retirement scheme to all itsemployees. One of the managers applies under it but the bankrefuses his application. Is the bank manager entitled to any rightagainst the bank
Whether or not the bank manager is entitled to any rights against the bank would depend on the specific terms and conditions of the voluntary retirement scheme (VRS) offered by the SBI, as well as any applicable employment laws and regulations.
If the bank manager applied for the VRS and met all the eligibility criteria laid out in the scheme, but was still refused by the bank, they may have grounds to challenge the bank's decision. However, if the bank manager did not meet the eligibility criteria or if the VRS scheme explicitly states that the bank has the right to refuse applications, then the bank may be within its rights to reject the application.
It's important to note that employment laws and regulations vary by jurisdiction, and legal advice may be necessary to determine the specific rights of the bank manager in this situation.
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Mary hears from a friend that green tea can provide extensive health benefits. On her way to work, she sees a billboard advertising the newest brand of green tea by Mildone. Later that day, at the supermarket, Mary sees a promotional offer on Mildone's green tea and decides to try out this brand to see whether green tea really has the benefits its users advocate. Which of the following statements is true with regard to this scenario?
a. Mary's purchase of the green tea was independent of any marketinginfluence.
b. Mary experienced group, marketing, and situational influences in thispurchase.
c. Mary's experience of viewing the billboard was the group influence inthis scenario
Option b is true in this scenario.
Mary was influenced by three factors, which are group, marketing, and situational influences, leading to her purchase of the Mildone green tea. Mary's friend's recommendation about the health benefits of green tea is an example of group influence. Mary's friend is a member of Mary's reference group, and her suggestion had an impact on Mary's decision-making process. The billboard advertising the Mildone brand is an example of marketing influence.
The billboard caught Mary's attention, and it influenced her decision to purchase the product. Finally, the promotional offer at the supermarket is an example of situational influence. Mary may have been planning to purchase a different brand of green tea or no green tea at all, but the promotional offer made her change her mind and choose the Mildone brand.
In conclusion, Mary's purchase of the Mildone green tea was influenced by group, marketing, and situational factors, and it was not independent of any marketing influence, as stated in option a. Option c is incorrect because the viewing of the billboard is just one of the marketing influences that led to Mary's purchase, and it is not an example of group influence.
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A company's current assets are $32,420, its quick assets are $17,490 and its current liabilities are $13,120. its acid-test ratio equals:
The acid-test ratio of the company would be 1.33. This means that for every dollar of current liabilities, the company need to $1.33 of quick assets available to pay them off.
The acid-test ratio, also known as quick ratio, measures a company's ability to pay off its current liabilities with its quick assets.
The formula for acid-test ratio is:
Acid-test ratio = (Quick assets) / (Current liabilities)
Substituting the given values:
Acid-test ratio = $17,490 / $13,120
Acid-test ratio = 1.33
Therefore, the acid-test ratio of the company is 1.33. This means that for every dollar of current liabilities, the company has $1.33 of quick assets available to pay them off.
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Differences in Will Eisner’s A Contract with God story and mainstream (such as Marvel DC, Fawcett, EC) comic books. whats the difference in both stories.
The main differences between Will Eisner's A Contract with God and mainstream comic books like Marvel, DC, Fawcett, and EC are in their storytelling approach, themes, and artistic style.
The differences between Will Eisner's A Contract with God and mainstream comic booksThere are several notable distinctions.
For one, A Contract with God is often considered one of the first graphic novels, as it is a book-length work that tells a complete story. In contrast, mainstream comic books are often serialized and released in single-issue installments over a period of time.Another difference is the subject matter and tone. A Contract with God deals with more mature themes such as mortality, faith, and community, whereas mainstream comic books often focus on superheroes and fantastical adventures. Additionally, A Contract with God is more focused on character development and introspection, while mainstream comics often prioritize action and spectacle.There are also differences in the visual style and storytelling techniques used. A Contract with God features a more realistic and detailed art style, and Eisner employs various techniques such as using panels of different shapes and sizes to convey mood and emotion. Mainstream comic books often use a more stylized and iconic art style, and may rely on flashy visuals and splash pages to create excitement and draw readers in.Learn more about DC Comics at
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Assume that prior to January 1, 2019, a Reporting Company owned a 15 percent interest in a Legal Entity. The Reporting Company acquired its 15 percent ownership interest in the Legal Entity on June 15, 1998 for $45,000, and correctly accounted for this investment under the cost method (i. E. , it was a passive investment and it was not marketable). On January 1, 2019, the Reporting Company purchased an additional 30 percent interest in the Legal Entity for $180,000. As a result of an evaluation of the facts and circumstances on Janu-ary 1, 2019, the Reporting Entity determined that the Legal Entity is a variable interest entity (VIE) and that the Reporting Company is the primary beneficiary of the VIE. The Reporting Company also determined that, on January 1, 2019, the fair value of the previously held 15 percent interest is $90,000. In addition, in-dependent appraisals revealed that the fair value of the noncontrolling interest (i. E. , the 55 percent not owned by the Reporting Company) is $330,000. On January 1, 2019, the Legal Entity has reported book values for its identifiable net assets equal to $399,000 and fair values for its identifiable net assets equal to $570,000.
Assume that the Legal Entity is not a "business," as that term is defined in FASB ASC 805 ("Business Combinations"). Related to the initial consolidation of the Legal Entity on January 1, 2019, determine the following amounts:
Note: Use a negative sign with your answer in part b. To indicate a gain on initial consolidation of Legal Entity, if applicable.
Account
Amount
a. Goodwill Answer
b. (Gain) Loss on initialconsolidation of Legal Entity Answer
A- The amount of goodwill recognized on initial consolidation of the Legal Entity is $30,000 and the B- gain on initial consolidation of the Legal Entity is $345,000 with a positive sign, indicating a gain on initial consolidation of the Legal Entity.
a. Goodwill: To calculate goodwill, we first need to determine the total consideration paid by the Reporting Company for the Legal Entity. This includes the cost of the previously held 15 percent interest ($45,000) and the cost of the additional 30 percent interest ($180,000), for a total consideration of $225,000.
The fair value of the previously held 15 percent interest on January 1, 2019, was determined to be $90,000. Therefore, the fair value of the additional 30 percent interest is $135,000 ($225,000 total consideration - $90,000 fair value of previously held interest).
The fair value of the noncontrolling interest is $330,000, which represents 55 percent of the fair value of the Legal Entity. Therefore, the fair value of the Legal Entity is $600,000 ($330,000 / 55% = $600,000).
The Legal Entity has identifiable net assets with a fair value of $570,000, which represents 95 percent of the fair value of the Legal Entity ($600,000 x 95% = $570,000). Therefore, the implied fair value of goodwill is $30,000 ($600,000 fair value of Legal Entity - $570,000 fair value of identifiable net assets = $30,000).
Thus, the amount of goodwill recognized on initial consolidation of the Legal Entity is $30,000.
b. (Gain) Loss on initial consolidation of Legal Entity:
To determine the gain or loss on initial consolidation, we need to compare the total consideration paid by the Reporting Company to the fair value of the identifiable net assets of the Legal Entity.
The total consideration paid by the Reporting Company for the Legal Entity is $225,000.
The fair value of the identifiable net assets of the Legal Entity is $570,000.
Therefore, the gain on initial consolidation of the Legal Entity is $345,000 ($570,000 fair value of identifiable net assets - $225,000 total consideration paid). Since the gain is positive, the answer is $345,000 with a positive sign, indicating a gain on initial consolidation of the Legal Entity.
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What type of money are included in the M2 category? Check all that apply
Currency
Saving account
Checking accounts
Commodity money
Short-tears investment accounts
Answer:
Currency, saving accounts, checking accounts, and short-term investment accounts are included in the M2 category. Commodity money is not included in the M2 category.
projects a and b are mutually exclusive. project a has a npv of -$10,000 and project b has a npv of -$15,000. which project(s) should be accepted?
By choosing Project A, the company will have to incur a smaller loss than if it chooses Project B.
To determine which project should be accepted, we need to compare their net present values (NPV) and choose the project with the higher NPV.
Project A has a NPV of -$10,000, which means that the present value of its cash inflows is less than the present value of its cash outflows by $10,000.
Project B has a NPV of -$15,000, which means that the present value of its cash inflows is less than the present value of its cash outflows by $15,000.
Since both projects have negative NPVs, accepting either project would result in a loss. However, if a company has to choose between the two projects, it should choose Project A, since it has the smaller negative NPV of -$10,000 compared to Project B's negative NPV of -$15,000.
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Mei is extremely upset because she has been falsely accused of stealing money from her employer. Her lawyer has suggested that mei take a polygraph test to prove her innocence. She asks you wheather she should agree to the test. Based on the research into the accuracy of polygraphs, you should tell mei that polygraphs:.
Based on the research into accuracy of polygraphs, you should tell Mei that polygraphs just measure overall arousal levels and are not reliable indicators of if or not people are lying. The right answer is b.
A polygraph is a device or process that measures and records multiple physiological signs while a person is asked and responds to a series of questions, yet it is frequently wrongly referred to as a lie detector test. These physiological indicators include blood pressure, pulse, respiration, and skin conductivity.
Although there are not any specific physiological reactions linked to lying, it can be challenging to identify factors that distinguish people who are lying with those who are telling the truth. This is due to the misconception that deceptive answers will result in physiological responses that can be distinguished from the ones associated with non-deceptive answers, which is the basis for the use of the polygraph.
The correct answer is option b.
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The question seems incomplete. The complete question is:
Mei is extremely upset because she has been falsely accused of stealing money from her employer. Her lawyer has suggested that Mei take a polygraph test to prove her innocence. She asks you whether she should agree to the test. Based on the research into the accuracy of polygraphs, you should tell Mei that polygraphs
a.are extremely accurate, and if Mei is truly innocent, she will pass with no problem.
b.only measure overall arousal levels and are not reliable indicators of whether or not people are lying.
c.sometimes wrongly indicate that innocent people are guilty, but are 100% accurate in detecting guilt.
d.sometimes wrongly indicate that guilty people are innocent, but are 100% accurate in detecting innocence.
"Normative Ethics" examines human decision making. * False True
The statement "Normative Ethics" examines human decision making is True because it correctly defines the concept of Normative Ethics.
Normative ethics is one of the four branches of ethics that deals with the principles of right and wrong in the present-day society. It studies human action and decision-making processes and prescribes ethical standards that ought to govern human behavior. Therefore, it is safe to say that the statement "Normative Ethics" examines human decision making is true. Normative ethics considers moral theories, concepts, and moral principles to establish moral norms that will regulate people's conduct.
Some moral theories considered in normative ethics include utilitarianism, deontology, virtue ethics, and consequentialism. Utilitarianism promotes the idea of maximizing the greatest good for the greatest number of people. Deontology prioritizes duty over consequences. Virtue ethics seeks to cultivate moral character in individuals, while consequentialism argues that the end justifies the means.
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during the first month of operations ended may 31, big sky creations company produced 55,750 designer cowboy boots, of which 52,650 were sold. operating data for the month are summarized as follows: 1 sales $789,750.00 2 manufacturing costs: 3 direct materials $395,825.00 4 direct labor 117,075.00 5 variable manufacturing cost 61,325.00 6 fixed manufacturing cost 55,750.00 629,975.00 7 selling and administrative expenses: 8 variable $26,325.00 9 fixed 26,325.00 52,650.00 during june, big sky creations produced 49,550 designer cowboy boots and sold 52,650 cowboy boots. operating data for june are summarized as follows: 1 sales $789,750.00 2 manufacturing costs: 3 direct materials $351,805.00 4 direct labor 104,055.00 5 variable manufacturing cost 54,505.00 6 fixed manufacturing cost 55,750.00 566,115.00 7 selling and administrative expenses: 8 variable $26,325.00 9 fixed 26,325.00 52,650.00 required: 1. using the absorption costing concept, prepare income statements for (a) may and (b) june. 2. using the variable costing concept, prepare income statements for (a) may and (b) june. 3a. explain the reason for the differences in operating income in (1) and (2) for may. 3b. explain the reason for the differences in operating income in (1) and (2) for june. 4. based on your answers to (1) and (2), did big sky creations company operate more profitably in may or in june? explain.
Big Sky Creations Company produced and sold designer cowboy boots in May and June, with different manufacturing costs and expenses. Using both absorption costing and variable costing concepts, the company's profitability is compared, and the reasons for the differences in operating income are explained.
1a. Income Statement for May using Absorption Costing Concept:
Sales: $789,750.00
Cost of Goods Sold:
Direct Materials: $395,825.00
Direct Labor: $117,075.00
Variable Manufacturing Cost: $61,325.00
Fixed Manufacturing Cost: $55,750.00
Total Cost of Goods Sold: $630,975.00
Gross Profit: $158,775.00
Selling and Administrative Expenses:
Variable: $26,325.00
Fixed: $26,325.00
Total Selling and Administrative Expenses: $52,650.00
Operating Income: $106,125.00
1b. Income Statement for June using Absorption Costing Concept:
Sales: $789,750.00
Cost of Goods Sold:
Direct Materials: $351,805.00
Direct Labor: $104,055.00
Variable Manufacturing Cost: $54,505.00
Fixed Manufacturing Cost: $55,750.00
Total Cost of Goods Sold: $566,115.00
Gross Profit: $223,635.00
Selling and Administrative Expenses:
Variable: $26,325.00
Fixed: $26,325.00
Total Selling and Administrative Expenses: $52,650.00
Operating Income: $170,985.00
2a. Income Statement for May using Variable Costing Concept:
Sales: $789,750.00
Variable Cost of Goods Sold:
Direct Materials: $395,825.00
Direct Labor: $117,075.00
Variable Manufacturing Cost: $61,325.00
Total Variable Cost of Goods Sold: $574,225.00
Contribution Margin: $215,525.00
Fixed Manufacturing Cost: $55,750.00
Gross Profit: $159,775.00
Selling and Administrative Expenses:
Variable: $26,325.00
Fixed: $26,325.00
Total Selling and Administrative Expenses: $52,650.00
Operating Income: $107,125.00
2b. Income Statement for June using Variable Costing Concept:
Sales: $789,750.00
Variable Cost of Goods Sold:
Direct Materials: $351,805.00
Direct Labor: $104,055.00
Variable Manufacturing Cost: $54,505.00
Total Variable Cost of Goods Sold: $510,365.00
Contribution Margin: $279,385.00
Fixed Manufacturing Cost: $55,750.00
Gross Profit: $223,635.00
Selling and Administrative Expenses:
Variable: $26,325.00
Fixed: $26,325.00
Total Selling and Administrative Expenses: $52,650.00
Operating Income: $170,985.00
3a. The reason for the difference in operating income in May using absorption costing and variable costing is the treatment of fixed manufacturing overhead. Absorption costing allocates fixed overhead costs to units of production, while variable costing treats fixed overhead costs as period expenses. In May, the fixed overhead cost of $55,750 was allocated to the 55,750 boots produced, resulting in a higher cost of goods sold and lower gross profit using absorption costing. However, variable costing resulted in a higher contribution margin due to the exclusion of fixed overhead costs from the cost of goods sold.
3b. The reason for the difference in operating income in June using absorption costing and variable costing is the same as in May. The allocation of fixed overhead costs to the cost of goods sold using absorption
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Select the statement that correctly explains the relationship between interest rates and present or future value
The relationship between interest rates and present or future value is, "Assuming other variables stay the same, if the interest rate decreases, the future value of an investment increases."
This means that as the interest rate decreases, the investment grows at a faster rate, resulting in a higher future value. This is because when the interest rate decreases, the cost of borrowing decreases, making it easier for individuals and businesses to invest and borrow money. As a result, the value of an investment in the future is higher when the interest rate is lower.
It is important to note that the interest rate and the future value of an investment are inversely related. This means that when the interest rate goes up, the future value of an investment goes down, assuming all other variables stay the same. Similarly, assuming other variables stay the same, if the interest rate decreases, the present value of an investment decreases. Therefore, the correct option is Assuming other variables stay the same, if the interest rate decreases, the future value of an investment increases.
The complete question is:
Select the statement that correctly explains the relationship between interest rates and present or future value.
Assuming other variables stay the same, if the interest rate decreases, the future value of an investment increases.
The interest rate and the future value of an investment are inversely related.
Assuming other variables stay the same, if the interest rate decreases, the present value of an investment decreases.
Assuming other variables stay the same, if the interest rate increases, the future value of an investment increases.
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A pie graph uses _________to represent information. a. lines c. odd numbers b. dots d. percentages please select the best answer from the choices provided a b c d
A pie graph uses percentages to represent information. The correct option is d. percentages.
A pie graph, also known as a pie chart, is a circular chart that uses percentages to represent information. The chart is divided into slices, with each slice representing a category or a portion of the whole. The size of each slice is proportional to the percentage of data it represents. This makes it easy to visualize data and compare different categories at a glance.
Pie charts are commonly used in business, economics, and statistics to represent data in a visually appealing way. They are particularly useful for showing relative proportions of data and can be an effective way to communicate complex information to a non-technical audience. Overall, a pie graph is an important tool for presenting data in a clear and concise manner. The correct option is d. percentages.
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4. Problems and Applications Q4 Consider two policies: a tax cut that will last for only one year and a tax cut that is expected to be permanent. True or False: A tax cut that is expected to be permanent will have a greater impact on aggregate demand than a tax cut that will last for only one year
The given statement "A tax cut that is expected to be permanent will have a greater impact on aggregate demand than a tax cut that will last for only one year" is true as people's spending patterns vary depending on their perceived steady income.
Tax reductions are a type of fiscal expansion. By raising household disposable income, which will lead to higher levels of expenditure, they will raise aggregate demand. The long-term tax reduction will increase expenditure and have a bigger effect on total demand.
Lifetime earnings are not significantly impacted by a brief tax cut. Lower income tax rates boost consumer purchasing power and can boost aggregate demand, which can boost economic growth. Reducing income taxes boosts disposable income for individuals, boosts spending, and boosts aggregate demand.
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You need to have $32,500 in 20 in years. you can earn an annual interest rate of 5 percent for the first 6 years, 5.6 percent for the next 5 years, and 6.3 percent for the final 9 years. how much do you have to deposit today?
Using the present value formula, you need to deposit approximately $37,510.14 today in order to have $32,500 in 20 years, considering the different interest rates over that period.
To calculate how much you need to deposit today, you can use the present value formula:
PV = FV / [tex](1 + r)^n[/tex]
where PV is the present value (the amount you need to deposit today), FV is the future value (the amount you need in 20 years), r is the annual interest rate, and n is the number of years.
First, let's calculate the future value using the different interest rates:
For the first 6 years:
FV1 = 32,500 / [tex](1 + 0.05)^6[/tex]= 46,969.36
For the next 5 years:
FV2 = 46,969.36 / [tex](1 + 0.056)^5[/tex]= 64,292.56
For the final 9 years:
FV3 = 64,292.56 / [tex](1 + 0.063)^9[/tex] = 113,343.03
Now, we can calculate the present value:
PV = 113,343.03 /[tex](1 + 0.063)^{20}[/tex] = $37,510.14
Therefore, you need to b$37,510.14 today to have $32,500 in 20 years, given the different interest rates over that period of time.
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You are surveying a piece of your land to plant raspberry bushes and want to know the number of acres you
will be using. You partition off 10 rows, each of which are 66 inches wide and 1,214 feet long. What is the
area of this partitioned land, to the nearest hundredth of an acro?
The area of this partitioned land is 1.533 acres.
To solve this, first convert the measurements into feet.
Each row is 66 inches, which is equal to 5.5 feet.
Therefore, Each row = 5.5 x 1214
Each row = 6,677 feet
To calculate the area, we can multiply the number of rows (10) by the length of each row (6,677).
Therefore, the area of the partitioned land = 10 x 6,677
The area of the partitioned land = 66,770 square feet
To convert this to acres, we can divide the number of square feet by 43,560 (the number of square feet in an acre).
Therefore, 66,770/43,560 = 1.533 acres.
Finally, we can round this to the nearest hundredth of an acre, which is 1.533 acres.
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Why is it that practice of giving unfair salaries still exists today? will ther be any possibility that it will end?
Due to a number of factors, including corporate greed, a lack of government restrictions, and unequal bargaining power between employers and employees, unfair salary practices still occur today. There may also be a pervasive culture in some industries that devalues particular sorts of work or workers.
However, there is a chance for change with growing awareness and advocacy for fair wages and labour practices. Better pay and benefits for workers can be negotiated and implemented by governments and labour organisations. Additionally, customers can consciously choose to support businesses that value fair labour practises. In the end, it will require a team effort to put an end to unfair trade practices and make sure that employees are fairly compensated for their services to their respective industries.
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You can purchase software you need to work your project for $40,500 which requires the purchase of hardware (servers) with a cost of $52,000. the purchased software has a yearly maintenance fee of $3,000 starting after the first year. the servers have a monthly operating cost $250 starting the month of purchase. on the other hand, you can contract with a cloud services provider for an initial setup fee of $7,000 and a $3,000 a month utilization charge starting the first month and charged until the end of the contract. right now, at the planning stage of your project, your project schedule estimates that the project will be completed in three years from today. you started analyzing risks on your work breakdown structure (wbs) deliverables and have determined that half of the activities carry at least one high negative risk associated with it. your mitigation plan may include extending the project to manage those high risks. also, you know that your company will not use the software once the project is over.
89500 + 500x = 7000 + 3000x
in which month does the purchase cost is the same as the lease cost?
a. what is your decision as a project manager, should you lease or should you buy? explain the reason for your decision.
b. weighing the risk factors and the mitigating plan for those factors, you have the potential of finishing early by six months. what is your decision at 2.5 years? explain.
c. you know that if you purchased the software, you will continue to accrue expenses after the project is completed. what are those expense costs? what factors would affect this decision?
a. As a project manager, you should compare the costs of purchasing vs leasing the software and hardware for the estimated project duration of 3 years. Purchasing involves a $40,500 software cost, $52,000 hardware cost, and a $3,000 yearly maintenance fee after the first year. The servers have a monthly operating cost of $250 starting from the first month. Leasing involves a $7,000 initial setup fee and a $3,000 monthly utilization charge.
Purchasing cost for 3 years:
$40,500 + $52,000 + ($3,000 x 2) + ($250 x 36) = $95,000 + $6,000 + $9,000 = $110,000
Leasing cost for 3 years:
$7,000 + ($3,000 x 36) = $7,000 + $108,000 = $115,000
In this case, purchasing is the cheaper option by $5,000, so you should buy.
b. If the project finishes six months early at 2.5 years, the leasing cost will be:
Leasing cost for 2.5 years:
$7,000 + ($3,000 x 30) = $7,000 + $90,000 = $97,000
At 2.5 years, purchasing is still cheaper by $13,000, so you should continue with the decision to buy.
c. If you purchased the software, the expenses after the project completion would include the yearly maintenance fee and the monthly operating cost for the servers. The factors affecting this decision would be the company's plans for the software and hardware after the project, potential resale value, and alternative uses of the resources within the company.
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A 20 year bond has an annual effective yield rate of 6.00%. coupons are paid semi-annually at 5.75%. the bond is redeemed at par value of 10,000 at maturity. how much would the price increase if the yield rate changes to 6.25% convertible semi-annually
The price of the bond would decrease by approximately $44.60 if the yield rate changes to 6.25% convertible semi-annually.
The bond has a face value of $10,000, and a yield rate of 6.00% per annum, paid semi-annually at 5.75%. This means that the bond pays a coupon of $287.50 every six months (5.75% of $10,000/2). We can use the formula for the present value of a bond to calculate its price:
Price = (C/((1 + r/n)^nt)) + (F/((1 + r/n)^nt))
where C is the coupon payment, r is the yield rate, n is the number of coupon payments per year, t is the number of years, and F is the face value.
Using this formula, we can calculate that the price of the bond is $10,358.99.
If the yield rate changes to 6.25%, we can calculate the new price of the bond using the same formula:
Price = (C/((1 + r/n)^nt)) + (F/((1 + r/n)^nt))
where r is now 6.25%. Plugging in the numbers, we get a new price of $10,314.39.
The price of the bond has therefore decreased by $44.60.
To elaborate further, when the yield rate increases, the present value of the bond decreases because the fixed coupon payments become less attractive compared to the new higher rates available in the market. In other words, if a new bond is issued with a higher yield rate, investors will demand a higher rate of return from the existing bond to compensate for the difference in yield.
When we calculate the new price of the bond using the higher yield rate of 6.25%, we can see that the price decreases by $44.60, which is a small decrease relative to the face value of $10,000. This suggests that the bond is relatively insensitive to changes in yield rates and is therefore less volatile than other bonds with longer maturities or lower coupon rates.
It is also worth noting that the bond is callable, meaning that the issuer has the right to redeem the bond before maturity. This feature may affect the price of the bond and should be taken into account when analyzing its risk and return profile.
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walkrun inc. is unlevered and has a value of $400 billion. an otherwise identical but levered firm finances 25% of its capital structure with debt at an 8% interest rate. no growth is expected. assume the corporate tax rate is 25%. use the mm model with corporate taxes to determine the value of the levered firm.
The value of the levered firm is $425 billion, which is higher than the value of the unlevered firm due to the tax shield provided by debt.
The MM model with corporate taxes suggests that the value of a levered firm is equal to the value of an unlevered firm plus the tax shield provided by debt.
In this case, we know that walkrun inc. is unlevered and has a value of $400 billion. The otherwise identical but levered firm finances 25% of its capital structure with debt at an 8% interest rate.
First, we need to calculate the tax shield provided by debt. The interest on the debt is tax deductible, so the tax shield is equal to the interest payment multiplied by the corporate tax rate. Therefore, the tax shield is 0.08 x 0.25 = 0.02.
Next, we can use the MM model to calculate the value of the levered firm. The formula is: Vl = Vu + TD, where Vl is the value of the levered firm, Vu is the value of the unlevered firm, T is the tax shield, and D is the amount of debt.
Plugging in the values, we get: Vl = 400 + (0.02 x 400 x 0.25/0.08) = 400 + 25 = $425 billion.
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coy, inc. initially issued 360,000 shares of $1 par stock for $1,800,000 in 2019. in 2020, the company repurchased 36,000 shares for $360,000. in 2021, 18,000 of the repurchased shares were resold for $288,000. in its balance sheet dated december 31, 2021, coy, inc.'s treasury stock account shows a balance of:
Coy, Inc.'s treasury stock account balance as of December 31, 2021 is $1,728,000.
Treasury stock refers to the shares of a company's stock that it has bought back from its shareholders. The treasury stock account is a contra-equity account and is shown as a deduction from the total amount of shareholders' equity.
In this case, Coy, Inc. initially issued 360,000 shares of $1 par stock for $1,800,000 in 2019. This means that the original issue price was $5 per share ($1,800,000/360,000 shares). In 2020, the company repurchased 36,000 shares for $360,000.
This means that the cost per share was $10 ($360,000/36,000 shares). In 2021, 18,000 of the repurchased shares were resold for $288,000, which implies a sale price of $16 per share ($288,000/18,000 shares).
To calculate the balance of the treasury stock account, we need to subtract the cost of the repurchased shares from the initial proceeds received from issuing the stock, and then add back the proceeds from the resale of the shares.
Therefore, the balance of the treasury stock account as of December 31, 2021 would be:
$1,800,000 - ($360,000) + ($288,000) = $1,728,000
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The owner of a bike shop would like to analyze the sales data to determine if the business is growing, declining, or remaining flat. The owner has the following data:
Sales Revenue Last Year =$125,000
Sales Revenue Current Year = $150, 000
What is the Sales Growth?
Do not forget to type the % symbol after multiplying your result by 100 to convert to percentage!
Hint: Your answer will NOT have decimal point.
Example: 75%
