Answer:
there are no available options, but the complete journal entry to record a credit card sale is:
Dr Cash account 98% of sale
Dr Credit card fees 2% of sale
Cr Sales revenue 100% of sale
Explanation:
Since VISA payments are automatic, you can debit cash directly. There is no need to debit accounts receivable and then once the payment is confirmed, debit cash. Some credit cards do not pay automatically, and in those cases you should debit accounts receivable.
Instead of credit card fees, some people use credit card discount, or credit card expense, but all these accounts are basically the same. They are all expense accounts.
The journal entry to record the transfer of units to the next department in process accounting is a(n):
Answer:
Decrease in one asset and an increase in another asset
Explanation:
The journal entry to record the transfer of units to the next department in process accounting is a(n):
i. Decrease in one asset
ii. Increase in another asset
If a buyer accepts defective goods and wants to hold the seller liable, the buyer must give the seller notice of the defect:______.
a. within a reasonable time after detecting the defect.
b. within the same financial year of the purchase.
c. when the contract is made.
d. only in writing.
Answer:
A. within a reasonable time after detecting the defect.
Explanation:
If a buyer accepts defective goods and wants to hold the seller liable, the buyer must give the seller notice of the defect within a reasonable time after detecting the defect.
If the buyer takes a longer time to notify the seller, the buyer may be held responsible for damaging the goods and deprived of any refund or compensation attached to defective goods.
You are valuing a bank. The bank currently has assets of $325 per share. Five years from now (that is, at the end of five years), you expect their assets per share to be $485. After Year 5, you expect their assets per share to grow at 3.25 percent per year forever. The bank has an ROA of 1.4 percent and an ROE of 12.5 percent. The bank's cost of equity is 12.0 percent. What is the value of the bank's stock? Use the free cash flow to equity model to value this stock. Do not round intermediate calculations. Round your answer to the nearest cent.
Answer and Explanation:
To calculate free cash flow to equity
Calculate net income given return on assets 2% and assets $475
Return on assets = Net income / Assets
Substitute:
= 2 % = Net income / $ 475
=$ 475 x 0.02 = $ 9.5
Calculate net income given return on assets 2% and assets $320
Return on Assets = Net income / Assets
Return on assets = 2 % = Net income / $ 320
=$ 320 x 0.02 = $ 6.4
Given return on equity =13
Return on equity = Net income / Equity
Substitute:
13 = $ 9.5 / Equity
Equity = $ 9.5 / 13
Equity = $ 0.73 ( at end of 5 years)
Therefore free cash flow to equity in year 0=
13 = $ 6.4 / Equity
= $ 6.4 / 13
= $ 0.49
To calculate to total value of stock = beginning value given by FCFE(0)*(1+g)/(r-g) + terminal value, we find
Compounded annual growth rate in 5 years = ($ 475 / $ 320)1/5 - 1
= 0.082
= 8.2 %
Beginning value= FCFE(0) x (1+g) / (r - g)
= 0.49 x ( 1+ 0.082 ) / (0.12 - 0.082)
= 0.49 x 1.082 / 0.038
= $ 13.95
Terminal value = $ 0.73 x (1+ 0.04) / ( 0.12 - 0.04) x (1.12)5
= $5.42
Total value = beginning value + Terminal value = $ 13.95 + $ 5.42 = $ 19.37
Discuss the different cost–benefit analyses that companies must take into account when they formulate an IT strategic plan.
Answer:
The various cost-benefit analyses that companies must take into account when they formulate an IT strategic plan are:
Analysts use the net present value (NPV) Return on Investment (ROI) Breakeven analysisExplanation:
To formulate an IT strategic plan means to create an IT plan that helps with the organization's long-term and short-term objectives. Many times there are several alternatives to select from. The alternative with the greatest amount of benefit and at the least cost to the organization is the best.
A comparison between the cost and the benefits of each alternative is called cost-benefit analyses. Note that "analyses" is plural.
Some of the methods that are utilized to evaluate each alternative plant for costs against benefits are:
Net Present Value (NPV) approach adopts the investment point of view in the analysis of the cost and the benefits accruable from an IT Strategic Plan.
NPV examines the present value of cash inflows and the present value of cash outflows over a period of time with a view to compare the difference between both factors. When applied to IT strategies, it is assumed that the benefits accruable from the IT project can be compared in monetary terms. A project with a positive NPV is a viable project. Those with zero NPV will return exactly the amount invested. A negative NPV is a loss. The project with the highest NPV is the most valuable in terms of cost versus benefits.
Return on Investment (ROI)
This approach is similar to the NPV. The project with the highest ROI and the least cost will pass for the best IT strategy.
Return on Investment is simply the result of dividing the Net Profits by the Initial cost of the investment. It is measured in percentages. The IT plan with the highest percentage is the best.
Breakeven Analysis
This also assumes that the expected results from the IT plan are measurable in monetary terms. A company is said to have broken even when they have recovered the exact amount invested into a business.
The shorter the breakeven period, the better the business/IT strategy.
Cheers
What are Cartels? (1 pt.)
A cartel is a group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals.
What factors should be considered for a leader when delegating responsibilities to committee members?
a. Politics and personnel
b. Money and connections
c. Trust and respect
d. Character and job code
What should be considered as key elements when planning the logistics of your event?
a) location, contracts, parking
b) date, director, charity
c) date, location, budget
d) location, budget, profit
What should you do during the development phase regardless of the type of event you are implementing?
a) identify your goals and objectives
b) identify the charity for the event profits
c) identify the location of the event
d) identify who will be the master of ceremonies
Which responsibility best describes the responsibility of the media or marketing director?
a. contracts
b. public relations
c. risk management
d. venue selection
Answer:
1) Character and job code
2) date, location, budget
3) identify your goals and objectives
4) public relations
Explanation:
When considering a committee member for a certain delegated role, a leader must select a person judged to have impeccable character and whose job code corresponds to the role you want to delegate to him/her.
When planning the logistics of an event, a suitable date must be chosen, an accessible and suitable location must be selected and the budget must be fair and manageable.
At the development phase of event planning, the event planner must identify exactly what the goals and objectives of the event are before other factors are considered.
The media or marketing director has the important role of promoting the image of the organization by engaging the public in issues regarding the organization. Hiss/her primary role has to do with public relations.
Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Materials inventory, March 31 8,000 Direct labor 25,000 Factory overhead 37,000 Work in process inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000
Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31
,Answer:
Zoe Corporation
Statement of Cost of Good Manufactured For the Month Ended March 31
Work in Process Inventory 22,000
Direct Materials:
Materials inventory, March 1 6,000
Purchases 92,000
Less Materials inventory, March 31 ( 8,000)
Cost of Materials used in Production 90,000
Direct Labor 25,000
Factory Overhead 37,000
152,000
Total Manufacturing Cost 174,000
Less Work in Process Inventory, March 31 (23,500)
Cost of Goods Manufactured 150,500
CDF Appliances has assembly plants in Atlanta and Fort Worth where it produces a variety of kitchen appliances, including a 12-cup coffee maker and a cappuccino machine. In each hour at the Atlanta plant, 160 of the coffee makers and 200 of the cappuccino machines can be assembled, and the hourly cost is $600. In each hour at the Fort Worth plant, 800 of the coffee makers and 200 of the cappuccino machines can be assembled, and the hourly cost is $2400. CDF Appliances expects orders each week for at least 80,000 of the coffee makers and at least 28,000 of the cappuccino machines. How many hours per week should each plant be operated in order to provide inventory for the orders at minimum cost
Answer:
Cappuccino machines should be produced in Atlanta and coffee makers in Fort Worth. The Fort Worth facility would need to operate 100 hours per week and the Atlanta facility would need to operate 140 hours per week.
Total costs associated to operating the facilities = ($2,400 x 100) + ($600 x 140) = $324,000
Explanation:
Since there is not constraint regarding the total number of labor hours that each plant can operate, then we must choose the plant that operates at the lower cost. The only restriction is total time = 7 days x 24 hours = 168 hours per week:
production costs Atlanta:
coffee maker = $600 / 160 = $3.75 per unit
cappuccino machine = $600 / 200 = $3 per unit
production costs Fort Worth:
coffee maker = $2,400 / 800 = $3 per unit
cappuccino machine = $2,400 / 200 = $6 per unit
Cappuccino machines should be produced in Atlanta and coffee makers in Fort Worth. The Fort Worth facility would need to operate 100 hours per week and the Atlanta facility would need to operate 140 hours per week.
Assume the appropriate discount rate for the following cash flows is 9.9 percent.
Year Cash Flow
1 $1,950
2 1,850
3 1,550
4 1,350
Required:
What is the present value of the cash flows?
Answer:
Total PV= $5,399.2
Explanation:
Giving the following information:
Year Cash Flow
1 $1,950
2 1,850
3 1,550
4 1,350
Discount rate= 9.9%
To calculate the present value, we need to use the following formula on each cash flow:
PV= Cf/(1+i)^n
PV1= 1,950/1.099= 1,774.34
PV2= 1,850/1.099^2= 1,531.71
PV3= 1,550/1.099^3= 1,167.72
PV4= 1,350/1.099^4= 925.43
Total PV= $5,399.2
f Quail Company invests $46,000 today, it can expect to receive $12,000 at the end of each year for the next seven years, plus an extra $6,800 at the end of the seventh year. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Enter negative net present values, if any, as negative values. Round your present value factor to 4 decimals.) What is the net present value of this investment assuming a required 12% return on investments
Answer:
NPV = $11841.05313 rounded off to $11841.05
Explanation:
The Net Present value or NPV is a metric for investment appraisal purposes. It calculates the present value of cash inflows less any cash outflow made at the start of the project to generate those cash inflows. The formula to calculate the NPV is,
NPV = CF1 / (1+r) + CF2 / (1+r)^2 + .... + CFn / (1+r)^n - Initial Outlay
Where,
CF1, CF2 and so on represents the cash flow in year 1 , year 2 and so on.r is the discount rate or required rate of returnNPV = 12000 / (1+0.12) + 12000 / (1+0.12)^2 + 12000 / (1+0.12)^3 +
12000 / (1+0.12)^4 + 12000 / (1+0.12)^5 + 12000 / (1+0.12)^6 +
(12000 + 6800) / (1+0.12)^7 - 46000
NPV = $11841.05313 rounded off to $11841.05
Imagine that Scott has asked your opinion about whether Barcelona should try to reduce involuntary turnover. What is an advantage of the current practice of firing a large percentage of employees?
a. Barcelona can replace less effective performers with better performers.
b. Barcelona can develop a monoculture in which all employees behave similarly.
c. Barcelona saves money on training costs.
d. Barcelona can gain valuable feedback about deficiencies in the company by conducting exit interviews.
Answer:
a. Barcelona can replace less effective performers with better performers.
Explanation:
As per the conversation i.e. you cant give the training to the people for enthusiastic them as you want to hire them also it is a transient business
So here you need to fire the old employees who are less effective and hire new employees who are enthusiastic that ultimately benefits the company
Therefore option a is correct
and the same is to be considered
A company is planning to move to a larger office and is trying to decide if the new office should be owned or leased. Cash flows for owning versus leasing are estimated as follows. Assume that the cash flows from operations will remain level over a 10 year holding period. If purchased, the company will invest $385,000 in equity and finance the remainder with an interest-only loan that has a balloon payment due in year 10. The after-tax cash flow from sale of the property at the end of year 10 is expected to be $750,000. What is the incremental rate of return on equity to the company, if the property is owned instead of leased
Answer: 13.26%
Explanation:
Year 0 Investment = $385,000
Incremental Cash flow every year = Cashflow if owned - Cashflow if leased
= 164,000 - 133,000
= $31,500
Incremental cashflow in Year 10 = Incremental Cashflow + Cashflow from sale of property
= 31,500 + 750,000
= $781,500
Using Excel and the IRR function, the rate is = 13.26%
Paula has sales that qualify to be reported on the installment basis. In year 2, installment sales were $40,000 with a cost of $30,000. In year 3, installment sales were $50,000 with a cost of $25,000. Collections in year 2 were in the amount of $30,000. Collections in year 3 were $10,000 on the year 2 sales and $30,000 on the year 3 sales. How much deferred gross profit exists as of the end of year 2
Answer: $2500
Explanation:
Gross profit is gotten when costs are subtracted from sales. Deferred gross profit is the cash that hasn't been gotten by a business.
The percentage on gross profit percentage will be calculated as:
= ($40000-$30000)/$40000 × 100
= $10,000/$40,000 × 100
= 0.25 × 100
= 25%
Deffered gross profit will now be calculated by multiplying the gross profit percentage by the cash to be cash to be collected. This will be:
=$10000 × 25%
= $2500
The deferred gross profit that exists as of the end of year 2 is $2500
g Consider the income-expenditure model. Suppose that the marginal propensity to consume is equal to 0.8. A reduction in taxes of $100 billion will cause output to:
Answer:
increase by 400 billion dollars
Explanation:
marginal propensity to consume = mpc
tax multiplier = -mpc/1-mpc
from our question we were given mpc to be 0.8
-0.8/1-0.8
= -0.8/0.2
= -4
change in output = -4(-100)
= 400 billion dollars
for a $100 tax decrease, output will increase by $100 billion x 4
= $400 billion
The Plastics Division of Weston Company manufactures plastic molds and then sells them for $70 per unit. Its variable cost is $30 per unit, and its fixed cost per unit is $10. Management would like the Plastics Division to transfer 10,000 of these molds to another division within the company at a price of $40. The Plastics Division is operating at full capacity. What is the minimum transfer price that the Plastics Division should accept?
Answer:
The right solution is "$30".
Explanation:
Unless the Plastic Division requires additional production, the Plastic Division would at minimum try to offset its operating expenses even though they have excess extra units which offer. The variable price seems to be $30 per item, so $30 seems to be the minimum determine the prevalence or transferable price.Calculate GDP loss if equilibrium level of GDP is $8,000, unemployment rate 8.8%, and the MPC is 0.80. Hint: (Use Okun's law to calculate GDP loss)
Answer:
Loss of gdp = 7.6%
Eliminate gdp loss = 121.6
Explanation:
According to Okun's law , 12% loss of gdp.
Natural rate of unemployment=5%
Cyclical unemployment = Actual unemployment - Rate of Unemployment
Cyclical unemployment = 8.8% - 5%
Cyclical unemployment =3.8%
Loss of gdp = 3.8%(2)
Loss of gdp = 7.6%
Loss of gdp = (7.6%(8,000)
Loss of gdp = 608
Spending multiplier = 1/(1 - mpc)
Spending multiplier = 1/(1 - 0.8)
Spending multiplier = 1/ 0.2
Spending multiplie = 5
So,
Eliminate gdp loss = 608/5
Eliminate gdp loss = 121.6
Use the following for this question and the next one. You will need your answer for this question to complete the next question. Hampton Inn hotel uses an average of 600 sheets during reorder time (from placing order to arrival). This demand is normally distributed with a standard deviation of 35 sheets. The hotel expects a 97% service level to satisfy high quality standards. What is the safety stock required
Answer:
safety stock = 76 units
Explanation:
z-score for 97% = 2.17009
standard deviation of lead time = 35/600 = 5.83%
average demand during lead time = 600 sheets
safety stock = Z-score x standard deviation of lead time x average demand during lead time
safety stock = 2.17009 x 0.058333 x 600 = 75.95 units ≈ 76 units
Safety stock refers to the number of extra units that a company needs to have in inventory in order to avoid stockouts.
Matt's parents decide to set up a college fund on his 10th birthday. They would like for the fund to be worth $36,273 on his 18th birthday. The make semi-annual payments into an account earning interest at an annual rate of 4.4%, compounded semi-annually. Find the size of the semi-annual payments required in order for the parents to have saved the desired amount by Matt's 18th birthday. Find the total amount deposited by the parents. As of Matt's 18th birthday, find the total amount of interest earned by the account. Enter the answer to Part c in the box below. Round your answer to the nearest dollar.
Answer:
a. $1,916.00
b. $30,656
c. $7,617
Explanation:
a. As they are depositing a set amount every 6 months, this is an annuity. The $36,273 is the future value of the annuity in 8 years.
n = 8 years * 6 = 16 semi annual periods
rate = 4.4/ 2 = 2.2% every 6 months
Future value = Amount * (([1 + i]^n) - 1 )/i
36,273 = Amount * (([1 + 2.2%]^16) - 1 )/2.2%
36,273 = Amount * 18.931485
Amount = 36,273/18.931485
= $1,916.00
b. Total amount deposited
= 16 * 1,916
= $30,656
c. Total amount of interest earned;
= Amount in fund - Total deposited
= 38,273 - 30,656
= $7,617
On May 1, 2019, Mary Smith signed a promissory note with Continental Bank. The note is due in one year with % interest. What journal entry should Continental Bank prepare on May 1, 2019?
a. Debit Cash for $10,000 and credit Notes Payable for $10,000.
b. Debit Notes Receivable for $10,700 and credit Cash for $10,700.
c. Debit Notes Receivable for $10,000 and credit Cash for $10,000.
d. Debit Cash for $10,700 and credit Accounts Receivable for $10,700.
Answer: c. Debit Notes Receivable for $10,000 and credit Cash for $10,000
Explanation:
Here is the completed question:
On May 1, 2019, Mary Smith signed a $10,000 promissory note with Continental Bank. The note is due in one year with 7% interest. What journal entry should Continental Bank prepare on May 1, 2019?
The journal entry shows the transactions incurred by Mary Smith. It should be noted that a journal shows both the debit and credit side.
Based on the information in the question, the journal entry will be:
Debit Notes Receivable for $10,000 and credit Cash for $10,000
Therefore, option C is the correct answer.
Check the attachment for further detail.
You’ve been called in to consult with a small startup company that needs advice on how to set up its computer systems and network. The startup company does not have a lot of money to invest in a large IT infrastructure, but it will have 30 employees that use computers to run a variety of applications, many of which are server-based. The company already has cabling and switches in place to connect its computer to a LAN, and it has a 50 Mbps Internet connection. a. What do you advise for this small business to satisfy its IT needs?
Answer:
focus on a client-server model
Explanation:
In this scenario, the best advice that can be given would be to focus on a client-server model. Since almost all of the applications that will be used by the employees are server-based it would be best to focus on only implementing the minimum necessary hardware for the 30 employees. So much so that they are able to access the server correctly but without adding excessive hardware power that would simply be overkill. Since the company already has all the necessary LAN switches it would be fairly simple to connect all of these machines together and 50 Mbps is more than enough for data transfer.
In 2014, Dallas Company had sales of $600,000; cost of sales of $430,000; interest expense of $12,000; and a gain on the sale of a component of $52,000; For its income statement, Dallas uses the single-step format and the all-inclusive concept. What was Dallas's reported pretax income from continuing operations
Answer:
$158,000
Explanation:
Sales $600,000
Less: Cost of goods sold $430,000
Less: Interest expenses $12,000
Pretax income from $158,000
continuing operations
B. Panuto: Isulat sa patlang kung ano ang tinutukoy sa pangungusap.
1. Ang tawag sa taong nagnenegosyo.
2. Ang panimulang salapi na ginagamit sa
pagnenegosyo.
3. Ang isang entrepreneur ay dapat magkaroon nito
upang ang produkto o serbisyo ay kumita ng
maganda
4. Alamin ang pagtatayuan ng negosyo.
5. Mahalaga ito upang maihatid at makilala ang
bagong produkto sa pamilihan.
Explanation:
1.negosyante.
2.kapital.
3.ng sapat na kaalaman sa pang negosyo.
4.inquiry
5.flayears
Hlleym762 Inc. is a merchandising company. Last month the company's cost of goods sold was $62,600. The company's beginning merchandise inventory was $16,600 and its ending merchandise inventory was $25,200. What was the total amount of the company's merchandise purchases for the month?
Answer:
Purchases = $71200
Explanation:
Using the Cost of Goods Section from the Income statement, we can calculate the Purchases of merchandise for the month. The cost of Goods sold is calculated as follows,
Cost of Goods Sold = Opening Inventory + Purchases - Closing Inventory
As we already have values for Cost of Goods Sold, Opening inventory and closing inventory, we can plug the values in the above formula to calculate the value of purchases.
62600 = 16600 + Purchases - 25200
62600 + 25200 - 16600 = Purchases
Purchases = $71200
Velocity, a consulting firm, enters into a contract to help Burger Boy, a fast-food restaurant, design a marketing strategy to compete with Burger King. The contract spans eight months. Burger Boy promises to pay $96,000 at the end of each month. At the end of the contract, Velocity either will give Burger Boy a refund of $32,000 or will be entitled to an additional $32,000 bonus, depending on whether sales at Burger Boy at year-end have increased to a target level. At the inception of the contract, Velocity estimates an 80% chance that it will earn the $32,000 bonus and calculates the contract price based on the expected value of future payments to be received. At the start of the fifth month, circumstances change, and Velocity revises to 60% its estimate of the probability that it will earn the bonus. At the end of the contract, Velocity receives the additional consideration of $32,000.
Answer:
the journal entries:
to record the contract
Dr Accounts receivable 96,000
Dr Bonus receivable 2,400
Cr Service revenue 98,400
to record adjustment of bonus receivable at month 5:
Dr Service revenue 6,400
Cr Bonus receivable 6,400
to record service revenue for the fifth month:
Dr Accounts receivable 96,000
Dr Bonus receivable 800
Cr Service revenue 96,800
to record getting the bonus:
Dr Cash 32,000
Cr Bonus receivable 6,400
Cr Service revenue 25,600
Explanation:
total value of the contract:
[($96,000 x 8) + $32,000] x 0.8 = $640,000
[($96,000 x 8) - $32,000] x 0.2 = $147,200
total expected value = $787,200
expected value of the bonus = $787,200 - ($96,000 x 8) = $19,200, monthly bonus receivable $19,200 / 8 = $2,400
the adjustments required during the fifth month:
[($96,000 x 8) + $32,000] x 0.6 = $480,000
[($96,000 x 8) - $32,000] x 0.4 = $294,400
total expected value = $774,400
expected value of the bonus = $774,400 - ($96,000 x 8) = $6,400, monthly bonus receivable $6,400 / 8 = $800
which 2 statements regarding intuit approved quickbooks online apps are true
Answer:
1. It is recommended that the master administrator of the quick-books company complete the setup.
2. You can connect an existing quick-books payments, Go payment or intuit merchant services account.
Explanation:
The Work in Process inventory account of a manufacturing company shows a balance of $2,600 at the end of an accounting period. The job cost sheets of the two uncompleted jobs show charges of $400 and $200 for direct materials, and charges of $300 and $500 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor cost ($) of:
Answer: 150%
Explanation:
Based on the question,
Direct materials = $400 + $200 = $600
Direct labor cost = $300 + $500 = $800
Overhead = Closing WIP - Direct material cost - Direct labor cost
= $2600 - $600 - $800
= $1200
The predetermined overhead rate based on the direct labor will be calculated as:
= Overhead / Direct labour cost
= $1200/$800
= 1.50
= 150%
Mickler Productions uses process costing. Its Mixing Department incurred conversion costs of $650,820 during January, and had a beginning Work in Process inventory of $30,430 for conversion costs. 54,000 units were transferred out of the department, and the ending inventory consisted of 2,500 units that are 20% complete with respect to conversion costs. What is the conversion cost per equivalent unit during January? $12.05 $12.62 $12.17 $12.50
Answer:
$12.50
Explanation:
Calculation of Equivalent units of production with respect to conversion costs
Ending Work In Process (2,500 × 20%) 500
Completed and Transferred Out (54,000 × 100%) 54,000
Equivalent units of production with respect to conversion costs 54,500
Calculation of the conversion cost per equivalent unit
cost per equivalent unit = Total Cost ÷ Total Equivalent Units
= ($30,430 + $650,820) ÷ 54,500
= $12.50
Goal-Setting, Expectancy, Reinforcement, and Equity Theory
Goal-Setting, Expectancy, Reinforcement, and Equity Theories all serve Theory Y managers in understanding how employees can be motivated at work. Employees seek interesting and challenging work in a fair work environment that allows for autonomy. There should be a system to engage everyone in the organization in goal setting and implementation as well as an expectation that effort expended will result in a positive outcome and be balanced from one employee to another (given the same work). Managers can also find success in fairness and a reward system that all employees value.
Goal-setting theory is based on the premise that employees are motivated when they are clear about the goals they are working toward. More importantly, they are more likely to engage to attain these goals if they collaborate with management in planning. Management by Objectives (MBO) is the process of discussion, review, and evaluation of goals between a manager and employee. Expectancy theory is based on the premise that the amount of effort employees exert on a specific task depends on their expectations of the outcome. Reinforcement theory states that individuals act to receive rewards and avoid punishment. A manager may attempt to surface good behaviors through rewards and extinguish poor behaviors through punishment. Equity theory zeros in on how employees' perceptions of fairness affect their willingness to perform.
Roll over each employee name to read a scenario. Match the scenario with the respective theory on the left by dragging the employee name to the corresponding theory.
1. Nathaniel has been late so much this month that he was not put on the project he requested to lead.
2. Robert does not want to go into work on his day off because he does not really need the overtime pay and that is the only benefit his boss offered.
3. Angela will be offered the role of team leader if she prepares a year-end profit and loss statement in Excel for the department, but she has not been trained to use Excel.
4. Rebecca's manager gave her a gift card to her favorite restaurant for having the highest value of sales in her department last month.
5. Gwen was glad she could sit down with her boss and plan the best schedule to accomplish her goals and objectives for the first quarter of the year.
6. Ruth found of that Liz is getting paid more per hour for doing the same job! Ruth has been with the company longer and her output is higher.
7. Jason is meeting with his manager to review the list of goals they spelled out last month to see what he has accomplished so far.
8. Daniel gave up his day off to help is boss hoping he would be appointed team leader, but the position was awarded to a co-worker who never helps out on the weekends!
A. Goal-setting
B. Expectancy
C. Reinforcement
D. Equity
Answer:
Goal-Setting, Expectancy, Reinforcement, and Equity Theories
Matching the scenario with respective theories:
A. Goal-setting : Gwen, Jason
B. Expectancy : Robert, Daniel
C. Reinforcement : Angela, Rebecca
D. Equity : Nathaniel, Ruth
Explanation:
Below are summaries of the different theories that can "serve Theory Y managers in understanding how employees can be motivated at work:"
A. Goal-setting Theory = setting clear goals
B. Expectancy Theory = acting based on the expected outcome
C. Reinforcement Theory = acting based on rewards and punishment
D. Equity Theory = willing to perform is based on perceived fairness
Match the scenario:
Part A. Goal-setting: Gwen, Jason
Part B. Expectancy: Robert, Daniel
Part C. Reinforcement: Angela, Rebecca
Part D. Equity: Nathaniel, Ruth
What is Equity?
In finance, equity is the right of assets that may have debts or other liabilities connected to them. Equity is estimated for accounting purposes by subtracting liabilities from the importance of the assets.
Descending are summaries of the different approaches that can "serve Theory Y managers in understanding how employees can be motivated at work:"
When the Goal-Setting, Expectancy, Reinforcement, and also Equity Theories
When the Matching the scenario with respective theories are:
Part A. Goal-setting Theory is = setting clear goals
Part B. Expectancy Theory is = acting based on the expected outcome
Part C. Reinforcement Theory is = acting based on rewards and punishment
Part D. Equity Theory is = willing to perform is based on perceived fairness
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A U.S. business sells milk to consumers in France. Which situation would
most likely cause demand for milk to decline in France?
A. A popular French nutrition author claims that milk is bad for
people's health.
B. French consumers expect the price for milk to increase in the
future.
C. Cheese and other products made from milk become more popular
in France
D. The French population grows steadily due to years of economic
prosperity
The situation that cause the demand for falling in france should be option A. A popular French nutrition author claims that milk is bad for people's health.
The reason why it cause demand for milk:
The various consumers believes on expert's suggestion to select between products. Marketers know this, and that is why they incorporate doctors and other professionals in advertisements. Should the popular nutrition author provides a negative opinion on milk products, the demand for milk in France will decline.
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Answer:
A
Explanation:
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The following transactions occurred in April at Steve’s Cabinets, a custom cabinet firm. Purchased $19,500 of materials on account. Issued $1,150 of supplies from the materials inventory. Purchased $11,900 of materials on account. Paid for the materials purchased in transaction (1) using cash. Issued $14,300 in direct materials to the production department. Incurred direct labor costs of $23,500, which were credited to Wages Payable. Paid $21,900 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing plant. Applied overhead on the basis of 130 percent of $23,500 direct labor costs. Recognized depreciation on manufacturing property, plant, and equipment of $10,700. The following balances appeared in the accounts of Steve’s Cabinets for April. Beginning Ending Materials Inventory $ 30,690 ? Work-in-Process Inventory 7,300 ? Finished Goods Inventory 33,900 $ 28,990 Cost of Goods Sold 53,730 Required: a. Prepare journal entries to record the transactions. b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
Answer:
Steve's Cabinets
a. Journal Entries:
Debit Raw materials $19,500
Credit Accounts Payable $19,500
To record the purchase of raw materials on account.
Debit Manufacturing Overhead $1,150
Credit Raw materials $1,150
To record the issue of supplies from inventory.
Debit Raw materials $11,900
Credit Accounts Payable $11,900
To record the purchase of raw materials on account.
Debit Accounts Payable $19,500
Credit Cash Account $19,500
To record payment for raw materials on account.
Debit Work in Process $14,300
Credit Raw materials $14,300
To record the issue of raw materials to production.
Debit Work in Process $23,500
Credit Wages Expense $23,500
To record the transfer of factory wages to production.
Debit Utilities, etc expense $21,900
Credit Cash Account $21,900
Debit Manufacturing overhead $21,900
Credit Utilities, etc expenses $21,900
To record miscellaneous plant expenses.
Debit Work in Process $30,550
Credit Manufacturing overhead $30,550
To apply 130% of direct labor cost of #23,500 to production.
Debit Manufacturing Overhead $10,700
Credit Depreciation Expense $10,700
To recognize depreciation expense.
b. T-accounts
Raw Materials
Account Titles Debit Credit
Beginning balance $ 30,690
Accounts Payable 19,500
Manufacturing overhead $1,150
Accounts Payable 11,900
Work in Process 14,300
Ending balance $ 46,640
$62,090 $62,090
Accounts Payable
Account Titles Debit Credit
Raw materials $19,500
Raw materials 11,900
Cash Account $19,500
Ending balance 11,900
Manufacturing Overhead
Account Titles Debit Credit
Raw materials $1,150
Expenses 21,900
Depreciation 10,700
Work in Process $30,550
Underapplied: Cost of goods sold 3,200
Work in Process
Account Titles Debit Credit
Beginning balance $ 7,300
Raw materials $14,300
Direct labor 23,500
Manuf. Overhead 30,550
Finished Goods $48,820
Ending balance $26,830
Finished Goods Inventory
Account Titles Debit Credit
Beginning balance $ 33,900
Work in Process 48,820
Cost of goods sold $53,730
Ending balance $ 28,990
Cost of goods sold
Account Titles Debit Credit
Finished goods $53,730
Manufacturing overhead:
Underapplied 3,200
Income Statement $56,930
Explanation:
a) Data and Calculations:
Account Balances of Steve’s Cabinets for April.
Beginning Ending
Materials Inventory $ 30,690 ?
Work-in-Process Inventory 7,300 ?
Finished Goods Inventory 33,900 $ 28,990
Cost of Goods Sold 53,730
