Based on the selling price of the car and the cost to work on it, Savion should sell the car now for $3,800.
Why should Savion sell the car?The profit if he works on the car is:
= Selling price - Addtional work cost
= 5,800 - 2,400
= $3,400
The profit from selling the car is $3,800 which is more than the profit if additional work is done of $3,400.
The $4,000 is irrelevant as it is a sunk cost.
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Morse Company reports total contribution margin of $68,640 and pretax net income of $13,200 for the current month. The degree of operating leverage is:
The degree of operating leverage is [tex]0.83[/tex].
What is the degree of operating leverage?How much a company's operating income alters in reaction to a change in sales is measured by the level of operating leverage.Analysts can assess the effect of any change in sales on business earnings using the DOL ratio.Due to the high percentage of fixed expenditures in an organization with high operating leverage, a significant increase in sales may result in outsized changes in profitability.Operating leverage formula:[tex]\frac{FC}{TC} = \frac{FC}{FC+VC}[/tex]
Where FC is a fixed cost, TC is the total cost and VC is a variable cost.
Solution -Contribution margin is $68,640 and pretax net income is $13,200.
So, applying the values in the formula we will get:
[tex]\frac{68,640}{13,200+68,640}[/tex]
[tex]0.83[/tex]
Therefore, the degree of operating leverage is [tex]0.83[/tex].
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What is the purpose of cost accounting iss?
The main purpose of cost accounting is to find out the cost of the various processes in the business so that selling prices can be fixed appropriately.
What is cost accounting?
This is an accounting method that allows companies to find out the cost of various processes and transactions they embark on.
Knowing these costs will enable the company to know the price it can charge on goods so that it can recoup these costs and make profits.
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Which form of personal power is used by leaders?
The form of personal power is used by leaders is Referent power.
What is Referent power?Referent power can be described as a kind of power that can be gotten by the leader's ability to influence and inspire those that he is leading especially in government.
It can be regarded as the adoration and respect that the leader gets as a result of his influence on his subordinates and other managers that are below him in the organization.
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Control over cash disbursents is generally more effective when
The control over cash disbursements is generally more effective when payments are made by check.
What is a cash disbursements?Also known as cash payment, its refers to the outflow of cash paid in exchange for the provision of goods or services
Hence, the control over cash disbursements is generally more effective when payments are made by check.
Therefore, the Option D is correct.
Missing option a) all bills are paid in cash. b) disbursements are made by the accounts payable subsidiary clerk. c) all purchases are made on credit. d) payments are made by check.
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The field of accounting that focuses on providing information for external decision makers is.
Identify a true statement about modern managers in Western society They view their task as one of motivating employees to do their best They are of the view that the practice of threatening employees is usually productive They function as enforcers and disciplinarians They believe that trust and respect should be demanded
A true statement on western modern managers is that They view their task as one of motivating employees to do their best.
How do western managers try to lead employees?Studies have shown that employees are more productive when they are motivated.
As a result, modern managers in the West try to motivate their employees to give their best so that the company can be more productive.
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Oriole industries had sales in 2021 of $7,480,000 and gross profit of $1,210,000. management is considering two alternative budget plans to increase its gross profit in 2022. plan a would increase the selling price per unit from $8.00 to $8.40. sales volume would decrease by 137,500 units from its 2021 level. plan b would decrease the selling price per unit by $0.50. the marketing department expects that the sales volume would increase by 143,000 units. at the end of 2021, oriole has 47,000 units of inventory on hand. if plan a is accepted, the 2022 ending inventory should be 43,000 units. if plan b is accepted, the ending inventory should be equal to 78,000 units. each unit produced will cost $1.50 in direct labor, $1.30 in direct materials, and $1.20 in variable overhead. the fixed overhead for 2022 should be $2,086,000. prepare a sales budget for 2022 under each plan.
The sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
Sales Budget for 2022Plan A
Sales (units) 797,500
($7,480,000/$8=937,500)
(935,000-137,500=797,500)
Selling Price $8.40
($8.00 + $0.40)
Sales (dollars) $6,699,000
(797,500×$8.40)
Plan B
Sales (units) 1,078,000
(935,000+ 143,000=1,078,000)
Selling Price $7.50
($8.00 - $0.50)
Sales (dollars) $8,085,000
(1,078,000×$7.50)
Therefore the sales budget for Plan A is $6,699,000 and Plan B is $8,085,000.
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Government provisioned goods and services for the poor, such as food or medical services, job training, or subsidized child care, are known as ________.
Government provisioned goods and services for the poor, such as food or medical services, job training, or subsidized child care, are known as Welfare or Consumer Subsidies
What are Welfare ?
Welfare are the subsidies the government pays to the fraction of people who are unemployed, poor, or ill. The payment which is paid by the government for welfare purpose i.e.; for poor people or jobless people.
What is Consumer Subsidies ?Subsidy means government pays part of the cost. Now, consumer subsidies means the government gives the subsidy to the consumer to reduce the price of goods and services .A subsidy is an incentive given by the government to individuals or businesses in the form of cash, grants, or tax breaks that improve the supply of certain goods and services.
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When the market rate is 12%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually. When the bonds mature, the issuer records its payment of principal with a debit to _______ in the amount of _______.
When the market rate is 12%, a company issues $50,000 of 9%, 10-year bonds and pay interest semiannually. When the bonds mature, the issuer records the journal entry of its payment of principal with a debit to cash in the amount of $50,000.
What is a journal entry?A systematic way of making and maintaining the record of the financial transactions in the journal books of an organization, with a proper narration of the same, is known as a journal entry.
Hence, option C holds true regarding the journal entry.
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When gas prices are $2.73 per gallon, the annual supply for gas in New York State is 135 billion gallons and the annual
demand is 141 billion gallons. When the price increases to $3.26 per gallon, the annual supply increases to 147 billion gallons and the
demand decreases to 137 billion gallons.
(a) Assuming that the supply and demand equations are linear, Ofind the supply and demand equations.
Supply Equation p =
Demand Equation p =
Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity (in billions).
The slope and y-intercept should include 3 decimal places, or be left as fractions.
(b) Find the market price and quantity.
market price p =
market quantity q =
Note: The market price and quantity should include 3 decimal places (or left as fractions), and the market price should include a dollar
sign.
The supply equation is p = 0.044q - 3.21.
How to compute the supply equation?The supply will be:
p = mq + b
2.73 = 135m + b
3.26 = 147m + b
Subtract both equations
12m = 0.53
m = 0.53/12
m = 0.044
We'll substitute it and this will be:
2.73 = 135m + b
2.73 = 135(0.044) + b
2.73 = 5.94 + b
b = -5.94 + 2.73 = -3.21
The supply equation will be
p = mq + b
p = 0.044q - 3.21
The demand equation will be:
2.73 = 141m + b
3.26 = 137m + b
Subtract the equations
4m = -0.53
m = -0.1325
2.73 = 141m + b
2.73 = 141(-0.1325) + b
b = 2.73 + 18.68
b = 21.41
The demand equation will be
p = -0.1325q + 21.41.
The equilibrium condition will be:
0.044q - 3.21 = -0.1325q + 21.41.
0.044q + 0.1325q = 21.41 + 3.21
0.1765q = 24.62
q = 140
Equilibrium quantity = 140
The market price will be:
p = 0.044q - 3.21
p = 0.044(140) - 3.21
p = 2.95
The market price is 2.95.
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Assume that the market for pencils is perfectly competitive. The market equilibrium price is $0.50 and Perry's Pencil Company has been selling 10,000 pencils per month. If he sells one more pencil, his marginal revenue will be
The marginal revenue is $0.5 which is being earned if the company sells one more pencil.
What is total revenue?Total revenue is the amount being obtained by the firm after selling the goods and services in the market.
Given values:
Quantity sold: 10,000 units
Marginal quantity: 10,001 units
Equilibrium price: $0.50
Computation of marginal revenue earned:
[tex]\rm\ Marginal \rm\ revenue=\frac{ \rm\ Additional \rm\ revenue-\rm\ Total \rm\ revenue}{\rm\ Total \rm\ quanitiy - \rm\ Additional \rm\ quantity} \\\rm\ Marginal \rm\ revenue=\frac{ 10,001 \times\ \$0.50 - 10,000 \times\ \$0.50}{10,001-10,000} \\\rm\ Marginal \rm\ revenue=\frac{\$5,000.50-\$5,000}{1} \\\rm\ Marginal \rm\ revenue=\$0.50[/tex]
Therefore, when the company sells one more pencil then it earned a marginal revenue of $0.50.
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Since 1950, the number of employees who work in the federal bureaucracy has ________ and the number of employees who work in both state and local government has ________.
Since 1950, the number of employees who work in the federal bureaucracy has decreased and the number of employees who work in both state and local government has increased.
What is the federal bureaucracy?
This is the term that is used to refer to the administrative body of the executive government of the United States.
From time it has been said that the people working here has reduced and that of the local government has grown.
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On January 1, a company's allowance for doubtful accounts had a credit balance of $21,000. During the year, it had net credit sales of $800,000 and it had $25,000 of uncollectible accounts receivable that were written off. Past experience indicates that the allowance should be 8% of the balance in receivables (percentage-of-receivables basis). If the accounts receivable balance at December 31 is $300,000, what is the bad debt expense for the year
Based on the percentage of the receivables that go to the allowance account and the accounts receivable balance, the bad debt expense is $24,000.
How can the bad debt expense be found?This is found as:
= (Accounts receivable balance x Percentage of receivables ) + (Amount written off - Credit balance on allowance account)
Solving gives:
= (300,000 x 8%) + (25,000 - 21,000)
= 24,000 + 4,000
= $28,000
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A. the ability to merely project one's abilities in the lack of actual accomplishments B. the ability to reduce the dependence of team members on each other C. the ability to induce the team members to focus on individual goals rather than collective goals ormal leadership D. the ability to influence a group toward the achievement of a vision or set of goals E. the ability to use factors like training and experience to reduce dependence on f
A leadership is best described as the ability to influence a group toward the achievement of a vision or set of goals.
What is a leadership?In a formal setting, this refers to individual ability to influence, lead and guide others people to accomplish a predetermined mission in the manner desired.
Hence, it is best described as the ability to influence a group toward the achievement of a vision or set of goals.
Therefore, the Option D is correct.
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A company can learn a great deal by analyzing the degrees of brand loyalty. For example, ________ can show the firm which brands are most competitive with its own.
A company can learn a great deal by analyzing the degrees of brand loyalty. For example, split loyals can show the firm which brands are most competitive with its own.
Brand loyalty: what is it?A customer's positive attitude toward a particular brand is known as brand loyalty. Customers may continuously choose a specific brand if they have a high level of brand loyalty when they need a product from this category. Brand recognition, brand preference, and brand insistence are the three levels of brand loyalty.
What levels of brand loyalty are there?Here are the phases of brand loyalty in brief:
Focused on creating awareness and leads, attractionTurning leads into customers is known as conversion.Engaging with new clients through follow-up.Reward devoted clients by providing them with greater benefits.What five traits define a brand's loyalty?These include dedication, brand trust, customer satisfaction, and customer perceptions of value.
What in marketing is split loyalty?Split Loyals: Individuals that support two or three brands. Shifting Loyals is the act of switching brands. Switchers: unreliable individuals (possibly "deal prone", constantly looking for bargains or "vanity prone", looking for something different).
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Miracle Pill. Katie advertised that she had developed a pill for women that would result in weight loss, wrinkle loss, and improved vitality; and for men would result in all those things, plus hair growth. Her television advertisement showed miracle results allegedly obtained by consumers. Katie cautioned, however, that ingestion of the pill for six months was required before results would be evident. The pill was wildly popular. The Federal Trade Commission, however, investigated and determined that Katie had failed to have a reasonable basis for the claims she made in advertisements. Katie claimed that she was merely involved in the use of generalities and clear exaggerations. The Federal Trade Commission disagreed and issued a formal administrative complaint against her. After a hearing, the Federal Trade Commission issued an order requiring that Katie stop advertising and selling the pills. After losing all appeals, Katie continued selling the pills until she was fined by the Federal Trade Commission. She has since left the country and cannot be located. Who would have presided over the hearing involving the administrative complaint filed against Katie by the Federal Trade Commission?a) A state circuit court judgeb) A federal district court judgec) An administrative law judged) A panel of commissioners of the Federal Trade Commissione) The full commission of the Federal Trade Commission
An administrative law judged would have presided over the hearing involving the administrative complaint filed against Katie by the Federal Trade Commission.
What is Administrative law?Administrative law serves as the branch of our law that support the administrative agencies, with power so they can imposes certain requirements on them to be able to gives solutions to when there is wrongful administrative acts.
Federal Trade Commission can be considered as an agency here and that was why it can make an order requiring that Katie stop advertising and selling the pills.
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explain the different process for the development of decision making skill?
The relationship between the number of years for the mortgage / home loan and the monthly payment amount.
Answer:
If A = { a , c , e } , B = { b , c , d ) and C = { a , c , d , f ) , find n ( A n B n C)
how would it help the company where you worked to maximize profits if you received advanced training
If i received advanced training the company would benefit and have more profits because less people will be needed to be employed as a result of my professionalism.
What is the benefit of advanced training?Advance training are those training that can improve ones knowledge in the field of work.
However, undergoing this training especially in the financial sector can help the trainee to be able to use the knowledge to maximize the profit such as getting some certification in financial field.
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A ________ is used in the final step of identifying viable Six Sigma improvement projects in order to easily select the priority projects based upon business criteria. Select one: a. Project Viability Model b. Selection Matrix c. Any of the Above d. None of the Above
Project Viability Model is used in the final step of identifying viable Six Sigma improvement projects in order to easily select the priority projects based upon business criteria.
What is Six Sigma program?A set of six management techniques, which are used by business organizations in order to detect and avoid the errors of a business process and improve efficiency, is a part of the six sigma program.
Hence, option A holds true regarding six sigma program.
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d) Identify and explain two reasons why accurate market research
information should be accurate
Answer:
When businesses are deciding how to develop their products and services, they undertake market research. Market research can either be done by the company itself or taken from elsewhere. Having reliable market research data is essential. Basing decisions on unreliable research can be very costly to a business. For research to be reliable, it must have a high level of validity. This means that the facts and evidence gathered are accurate.
Two reasons why market research should be accurate:
Business Risks: Regular market research will be your way to check in with your current customers and potential customers to ensure that you’re still meeting their needs. If it is accurate business risks are reduced but if inaccurate, it could lead to the crash of your business.
Decision-making: The need for and importance of marketing research frequently comes up when making tough business decisions. Instead of having arbitrary criteria for the decisions you make as a business owner, you can always go back to your market research report. Based on that report, will this decision lead to more customers? Will you be able to reach more people who are likely to buy from you? Will it be clear to them that your business can meet their needs? With an accurate market research, the business can make properly informed decisions but with inaccurate market research, the business will be making unwise decisions
Coca-Cola costs the consumer about the same as Pepsi, Dr Pepper, and other soft drinks. The soft drink industry generally follows a status quo pricing policy, which means that it _______. a. enables management to recover its product development costs quickly b. discourages or blocks competition from entering a market c. charges a price identical to or very close to the competition's price d. expands production with the use of technological innovations and tools
Coca-Cola costs the consumer about the same as Pepsi, Dr Pepper, and other soft drinks. The soft drink industry generally follows a status quo pricing policy, which means that: option c, it charges a price identical to or very close to the competition's price.
What does the term status quo mean?This is a term that has to do with the current state of affairs or the way that things may seem at the moment.
From the definition that we have here, it can be said that Coca cola is charging at the current state that similar products are charging.
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Gross domestic product calculations count only final goods and services because ______.
Gross domestic product calculations count only final goods and services because counting all intermediate goods and services would lead to double-counting of many activities.
What is gross domestic product?The GDP of a country is what measures the total output of goods and services produced in a country. In other words, it measures the standard of living of a country's citizen.
The gross domestic product is a broad monetary measure of a nation’s overall economic activity.
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A key contribution of ________ was the identification of the major functions of management which are planning, leading, organizing, and controlling. A key contribution of ________ was the identification of the major functions of management which are planning, leading, organizing, and controlling. the behavioral viewpoint
A key contribution of the administrative management was the identification of the major functions of management which are planning, leading, organizing, and controlling.
What is an administrative management?It should be noted that the administrative management is important in ensuring that the organization is moving towards the attainment of its goals.
In this case, key contribution of the administrative management was the identification of the major functions of management which are planning, leading, organizing, and controlling
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A company that has socially responsible human resources management is Multiple choice question. likely to perform better financially likely to perform worse financially going to lose money by providing pay raises going to save money by not hiring those who are disabled
A company that has socially responsible human resources management is likely to perform better financially
What is social responsibility?Social responsibility include an individual contribution to his or her environment.
When a company is socially responsible it means the company is contribute immensely t the social life of the employee and the environment.
They will perform better financially because they will always get positive feedback for every of their investment towards their staff.
Therefore, A company that has socially responsible human resources management is likely to perform better financially
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When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as ______.
When an organization evaluates people based on the economic or productive potential of their knowledge, experience, and actions, the organization is viewing them as human capital.
What is human capital organization?Human capital is referred to as an intangible asset for any firm but is absent from the balance sheet of a corporation. Human capital, which includes an employee's education, health, intelligence, punctuality, values, ethics, corporate citizenship, and loyalty, is the economic value of their knowledge, abilities, and experience.
Thus, it is human capital.
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A firm’s mixture of debt and equity financing is the result of its ______ decisions.
Explanation:
Its answer is capital structure
companies using _____ revenue model charge a fee based on the value of the service provided on the web.
Companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
What is service charge?Service charge is certain amount of money paid by an individual for a service rendered.
The amount is paid based on the charge pose on the individual.
Therefore, companies using fee-for-service revenue model charge a fee based on the value of the service provided on the web.
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Compared to coffee, we would expect the cross elasticity of demand for: Group of answer choices tea to be positive, but negative for cream. tea to be negative, but positive for cream. both tea and cream to be negative. both tea and cream to be positive.
Tea to be negative, but positive for cream is the cross elasticity of demand as compared to the coffee.
What is cross elasticity demand?When the price of one of the items varies, the cross elasticity of demand analyzes the link between the two. It illustrates how the relative shift in demand for one good changes as the cost of the other increases or decreases.
Thus, option B is correct.
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a 12oupon bond, semiannual payments, is callable in 3 years. the call price is $1,120; if the bond is selling today for $1,110, what is the yield to call?
Based on the coupon rate, the call price and the selling price, the yield to call is 11.06%.
How is the yield to call found?The formula to find it is:
= (Coupon + (Call price - Current price) / Number of periods ) / ( (Call price + Current price) / 2 ) x 2
Solving gives:
=( (12%/2 x 1,000) + (1,120 - 1,110) / 6 semi annual periods ) ) / ( (1,120 + 1,110) / 2) x 2
= (61.667 / 1,115) x 2
= 11.06%
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