Answer:
iv
iii
i
ii
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
a. this is not a perfect competition because the sweatshirts are not homogenous. they differ in quality and style
b. this is not a perfect competition because there are not plenty firms. this is more of a duopoly
c. this is a perfect competition. there are many tutoring services with homogenous products
d. the company is a monopoly. there is no free entry into the industry as a result of the government permit
Journalize the entries to record the following selected bond investment transactions for Hall Trust (refer to the Chart of Accounts for exact wording of account titles):
Apr. 1 Purchased for cash $240,000 of Medina City 6% bonds at 100 plus accrued interest of $3,600, paying interest semiannually.
June 30 Received first semiannual interest payment.
July 31
Sold $120,000 of the bonds at 98 plus accrued interest of $600.
CHART OF ACCOUNTSHall TrustGeneral Ledger
ASSETS
110 Cash
111 Petty Cash
120 Accounts Receivable
121 Allowance for Doubtful Accounts
131 Notes Receivable
132 Interest Receivable
141 Merchandise Inventory
145 Office Supplies
161 Investments-Medina City Bonds
165 Valuation Allowance for Trading Investments
166 Valuation Allowance for Available-for-Sale Investments
181 Land
193 Office Equipment
194 Accumulated Depreciation-Office Equipment
LIABILITIES
210 Accounts Payable
221 Notes Payable
231 Interest Payable
241 Salaries Payable
EQUITY
311 Common Stock
312 Paid-In Capital in Excess of Par-Common Stock
321 Preferred Stock
322 Paid-In Capital in Excess of Par-Preferred Stock
331 Treasury Stock
332 Paid-In Capital from Sale of Treasury Stock
340 Retained Earnings
350 Unrealized Gain (Loss) on Available-for-Sale Investments
351 Cash Dividends
352 Stock Dividends
390 Income Summary
REVENUE
410 Sales
611 Interest Revenue
612 Dividend Revenue
631 Gain on Sale of Investments
641 Unrealized Gain on Trading Investments
EXPENSES
511 Cost of Merchandise Sold
512 Bad Debt Expense
516 Cash Short and Over
520 Salaries Expense
531 Advertising Expense
534 Selling Expenses
535 Rent Expense
537 Office Supplies Expense
562 Depreciation Expense-Office Equipment
590 Miscellaneous Expense
710 Interest Expense
731 Loss on Sale of Investments
741 Unrealized Loss on Trading Investments
Answer:
1) Dr Investments-Medina City Bonds $240,000
Cr Interest Receivable $3,600
Cr Cash $243,600
2) Dr Cash $7,200
Cr Interest Receivable3600
Cr Interest Revenue $3,600
3) Dr Cash $118,200
Dr Loss on sale of investments $2,400
($120,000+$600-$118,200)
Cr Interest Revenue $600
Cr Investments- medina city bonds $120,000
Explanation:
Preparation of the journal entries
1) Dr Investments-Medina City Bonds $240,000
Cr Interest Receivable $3,600
Cr Cash$243,600
($240,000+$3,600)
2) Dr Cash $7,200
($240,000 x 6% x ½ =$7,200)
Cr Interest Receivable $3,600
Cr Interest Revenue $3,600
($7,200+$3,600)
3) Dr Cash $118,200
[ (120,000 x .98)-$600]
Dr Loss on sale of investments $2,400
($120,000+$600-$118,200)
Cr Interest Revenue $600
Cr Investments- medina city bonds $120,000
____ is the measure of how much money you can make off each sale.
Answer:
Profit or net profit is the answer.
Explanation:
LJM Corporation includes two divisions, Shay Division and Patty Division. The Shay Division makes specialized filters, including one that could be used by the Patty Division. Costs for the filter are variable costs, $16; fixed costs, $20. Shay Division has capacity to make 20,000 of the filters, and it is operating at capacity. It sells the filters to other companies for $52 each. The Patty Division needs 8,000 filters per year, and it has been purchasing them from another company for $45 each. Required: 1) If a transfer were to occur between Shay Division and Patty Division, what is the maximum that Patty Division should be willing to pay for the filters? 2) If a transfer were to occur between Shay Division and Patty Division, what is the minimum price that Shay Division should be willing to accept?
Answer:
LJM Corporation
1. The Maximum price that Patty Division should be willing to pay for the filters is: $45.
2. Minimum price that Shay Division should be willing to accept is: $52.
Explanation:
a) Data and Calculations:
Shay Division Patty Division
Costs:
Variable costs $16
Fixed costs 20
Sales/purchase price 52 $45
Capacity/requirement 20,000 8,000
Maximum price that Patty Division should be willing to pay for the filters is: $45.
Minimum price that Shay Division should be willing to accept is: $52.
b) The minimum transfer price should be determined based on the variable costs and the opportunity costs. The opportunity cost for Shay Division is $36 ($52 - $16). For Patty Division, the maximum price it should be willing to pay is the opportunity cost, which is the price Patty pays when it buys the filters from the market.
Forever Ready Company expects to operate at 85% of productive capacity during May. The total manufacturing costs for May for the production of 34,000 batteries are budgeted as follows:
Direct materials $330,600
Direct labor 121,600
Variable factory overhead 34,000
Fixed factory overhead 68,000
Total manufacturing costs $554,200
The company has an opportunity to submit a bid for 3,000 batteries to be delivered by May 31 to a government agency. If the contract is obtained, it is anticipated that the additional activity will not interfere with normal production during May or increase the selling or administrative expenses.
What is the unit cost below which Forever Ready Company should not go in bidding on the government contract? Round your answer to two decimal places.
Answer:
$14.3
Explanation:
Calculation to determine the unit cost which Forever Ready Company should not go in bidding on the government contract.
Direct materials $9.72
($330,600/34,000)
Direct labor $3.58
($121,600/34,000)
Variable factory overhead $1
($34,000/34,000)
Total per unit cost $14.3
($9.72 + $3.58 + $1)
Therefore, the unit cost which Forever Ready Company should not go in bidding on the government contracts is $14.3
Ice House Industries, Inc. has three operating departments: Cooking, Churning and Freezing. Indirect factory costs for the current period were Administrative, $560,000 and Maintenance, $98,000. Administrative costs are allocated to operating departments based on the number of workers and maintenance costs are allocated to operating departments based on square footage occupied.
cooking depart churning depart freezing depart
number of employees 2,940 employees 4,900 employees 1,960 employees
square feet occupied 33,250 Sq Ft 38,000 Sq Ft 23,750 Sq Ft
1. Based on the above data, determine the administrative cost allocated to each operating department of Ice House Industries, Inc.
(A) Cooking: $168,000 Churning: $280,000 Freezing: $112,000
(B) Cooking: $186,666 Churning: $186,666 Freezing: $186,666
(C) Cooking: $112,000 Churning: $280,000 Freezing: $168,000
(D) Cooking: $280,000 Churning: $112,000 Freezing: $168,000
(E) Cooking: $219,333 Churning: $219,333 Freezing: $219,333
A. Choice A
B. Choice B
C. Choice C
D. Choice D
E. Choice E
2. Based on the above data, determine the maintenance cost allocated to each operating department of Ice House Industries, Inc.
(A) Cooking: $219,333 Churning:$219,333 Freezing: $219,333
(B) Cooking: $230,00 Churning: $263,200 Freezing:$164,500
(C) Cooking: $33,250 Churning: $38,000 Freezing:$23,750
(D) Cooking: $32,666 Churning: $32,666 Freezing:$32,666
(E) Cooking:$34,300 Churning: $39,200 Freezing:$24,500
A. Choice A
B. Choice B
C. Choice C
D. Choice D
E. Choice E
Answer:
1. (A) Cooking: $168,000 Churning: $280,000 Freezing: $112,000
2. (E) Cooking:$34,300 Churning: $39,200 Freezing:$24,500
Explanation:
The computation is shown below:
a. For administrative cost allocated to each operating department is
Cooking
= $560,000 × 2,940 ÷ (2,940 + 4,900 + 1,960)
= $168,000
Churning
= $560,000 × 4,900 ÷ (2,940 + 4,900 + 1,960)
= $280,000
Freezing
= $560,000 × 1,960 ÷ (2,940 + 4,900 + 1,960)
= $112,000
b. For maintenance cost allocated to each operating department is
Cooking
= $98,000 × 33,250 ÷ (33,250 + 38,000 23750)
= $34,300
Churning
= $98,000 × 38,000 ÷ (33,250 + 38,000 23750)
= $39,200
And, for freezing
= $98,000 × 23,750 ÷ (33,250 + 38,000 23750)
= $24,500
Suppose Germany, a large country, imposes a tariff on tuna imports. Before the tariff, all the countries in the world are engaged in free trade in tuna. Explain why.
(1). The German consumers pay a higher price for tuna.
(2). The German producers receive a higher price for tuna.
(3). The world price of tuna increases.
(4). The tariff makes Vietnam, a tuna exporting country, worse off.
(5). Vietnamese tuna consumers suffer because of the tariff.
Answer:
1. This is true.
The Germans will pay a higher price for tuna because the tariff will increase the price of imported tuna and the reduction in completion with the local producers will lead to higher prices as the local producers take up their price.
2. This is true.
German producers no longer have to compete as much with imported tuna which was cheaper. They will therefore be able to raise their prices.
3. This statement is false.
The world price of Tuna DOES NOT increase because the tariff is only applicable in Germany. Other parts of the world will trade tuna as before. This is what is assumed.
4. This statement is true.
If Vietnam was exporting tuna to Germany, they will become worse off because they will see a decline in demand for their tuna on account of the tariffs making the tuna more expensive.
5. This is false.
Vietnamese tuna consumers will still pay the same price to get tuna because Vietnam produces the tuna. It is Vietnam's producers that will suffer not the consumers.
Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners. They are tenants with the right to survivorship. Lizzi transfers her one-quarter interest in the building to a private charity organization owned by Stella. Which form of concurrent ownership would allow Karen, Kelsey, and Rita to become the owners of the property following Lizzi's death without the inclusion of the private charity organization run by Stella?
a) a tenancy in common
b) a tenancy by entirety
c) a joint tenancy
d) a community property
Answer:
Option C: A Joint tenancy
Explanation:
Joint Tenancy
This is simply a type of a concurrent estate. This is the process by which the cotenants have acquired four unities of title. That is the: the unity of Time, the unity of Title, the Unity of Interest and the Unity of Possession. The cotenants must received these unities from the same transferor(s) and each joint tenant is has equal right to the primary benefit of a joint tenancy such as the right of survivorship. It is the property that belongs to two or more people, even if married or unmarried.
This Joint tenancy deals with 2 or more tenants who owns the land altogether, in all. No tenant has more than the other.
The right of survivorship
It is stated that upon death of a joint tenant, the deceased's interest transfers straight to the surviving joint tenant or tenants-one less owner
Select the education and qualifications that are most helpful for Warehousing and Distribution Center Operations careers. Check all that apply.
high school degree
stamina
leadership
patience
concentration skills
associate degree
creativity
Answer:
High school degree
Stamina
Patience
Concentration skills
Explanation:
Just did it on edg.
The education and qualifications that are most helpful for Warehousing and Distribution Center Operations careers are:
High school degreeStaminaPatienceConcentration skillsWhat is Warehousing and Distribution Center Operation?Distribution centers offer value-added services such product mixing, order fulfilment, cross-docking, kitting, and packing in addition to the primary function of storing items in warehouses. Distribution centers, in contrast to warehouses, also only keep the necessary quantity of goods for a shorter amount of time.
Because they primarily support B2B enterprises as a conduit between suppliers and customers, distribution centers are more customer-centric. Distribution centers are in charge of effectively meeting customer demands and expectations; warehouses are in charge of safely keeping products.
Operations at distribution centers are therefore more complicated than those at warehouses. Distribution centers use state-of-the-art technology for order processing, inventory management, warehouse management, and transportation management.
Define concentration."The ability to direct your thinking in any direction you choose and to hold it for as long as you choose" is the definition of concentration.
Concentration is the capacity to narrow the field of awareness to one particular idea or subject while rejecting all other distractions.
One of the most crucial skills anybody should have is the capacity to concentrate. However, the majority of people find it difficult to focus. They frequently can't focus on one thing for a reasonable amount of time since their attention tends to wander.
This is a problem that can be solved. The capacity for concentration can be improved, just like any other talent. A person who practices mental discipline may concentrate without being interrupted by thoughts, sounds, or anything else.
While you might occasionally appear to be reading or concentrating on your work, if your attention is diverted you probably won't be able to retain the information for long enough to use it properly to produce something intelligible.
If you find the subject matter to be "boring," you're too sleepy or hungry, you have too much on your plate, you lack motivation for a long-term or short-term goal, or you're very concerned or worried and easily distracted, your ability to focus may be affected.
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Like all companies, McDonald's needs to continue identifying, developing, and introducing new products. One recent concept McDonald's identified is a vegan burger. After assessing the concept, McDonald's research and development kitchen developed a vegan burger that they felt would be appealing to the 13% of Americans that are vegetarian or vegan. Before rolling the vegan burger out, McDonald's wanted to examine the viability in the real world, but on a limited basis. McDonald's next step should be to ________ the vegan burger.
a. test market
b. concept test
c. field exam
d. commercialize
Answer:
a. test market
Explanation:
The test market consists of a strategy used by organizations to assess how consumers will be receptive to a new product or service launched. In this step, companies select a group of consumers or a specific region with a profile aligned with the new product, to feel the reaction of the market, and then be able to distribute the product on a large scale. After defining the target audience of the test market, the companies monitor the promotion and distribution strategies, carrying out a kind of test to verify the errors and successes of the marketing campaign and the possibilities of the insertion of the new product in the mass market to be successful .
This is an advantageous strategy for companies, due to the lower cost associated with a large-scale launch, the monitoring of high risks, and the possibility of feeling the market, making corrections and checking the demand for the product.
The petty cash fund of Ricco's Automotive contained the following items at the end of September 2021:
Currency and coins $58
Receipts for the following expenditures:
Delivery charges $16
Printer paper 11
Paper clips and rubber bands 8 35
Lent money to an employee 25
Postage 32
Total $150
The petty cash fund was established at the beginning of September with a transfer of $150 from cash to the petty cash account.
Required:
Prepare the journal entry to replenish the fund at the end of September.
Answer:
Date Account titles and Explanation Debit Credit
Sep 30 Delivery expenses $16
Offices supplies $19
Postage expenses $32
Receivables from employees $25
Cash $92
(To record replenishment of petty cash fund)
An even numbered card is chosen randomly from a set of cards labeled with the numbers 1 through 8. A second even numbered card is chosen after the first card is replaced. Are these dependent or independent events?
a.
dependent
b.
independent
Answer:
independent. This is a fun question. I never thought about how I would explain it before.
Explanation:
Can you think of anything that might influence the second even card being drawn?
Let's make the question a whole lot easier. Suppose you have a coin and it's a fair one just coming from the mint. Suppose you toss it and you get either heads or tails. Can you think of a reason why you should get the same thing again or put another way, can you guess what you are going to get next?If you can't then the tosses are independent of each other. You haven't replaced anything, like once you get a tails, you weight the coin so you can never get tails again. That would be a dependent event.If you can guess consistently, you better submit a written paper to a math journal.Now go back your your question. You replaced the card. The odds are the same as for the first toss. Is there anything that has changed your mind about being able to guess.
You can't guess, so the events are independent.
For each of the three independent situations below determine the amount of the annual lease payments. Each describes a finance lease in which annual lease payments are payable at the beginning of each year. Each lease agreement contains an option that permits the lessee to acquire the leased asset at an option price that is sufficiently lower than the expected fair value that the exercise of the option appears reasonably certain.
Situation 1 Situation 2 Situation 3
Lease term (years) 5 10 4
Lessor?s rate of return 10% 11% 9%
Fair value of leased asset $62,000 $421,000 $186,000
Lessor?s cost of leased asset $51,000 $421,000 $146,000
Bargain purchase option:
Option price $11,000 $51,000 $23,000
Exercisable at end of the year: 5 5 3
Required:
Determine the annual lease payments for each situation:
Answer:
a. The annual lease payment for Situation 1 is $12,774.47.
b. The annual lease payment for Situation 2 is $71,486.40.
c. The annual lease payment for Situation 3 is $57,412.37.
Explanation:
The annual lease payments can be calculated using the formula for calculating loan amortization as follows:
P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)
Where,
For Situation 1
P = Annual lease payments = ?
A = Fair value of leased asset = $62,000
r = interest rate = Lessor’s rate of return = 10%, or 0.01
n = Number of years of lease term = 5
Substituting all the figures into equation (1), we have:
P = ($62,000 * (0.01 * (1 + 0.01)^5)) / (((1+0.01)^5) - 1)
P = $12,774.47
Therefore, the annual lease payment for Situation 1 is $12,774.47.
For Situation 2
P = Annual lease payments = ?
A = Fair value of leased asset = $421,000
r = interest rate = Lessor’s rate of return = 11%, or 0.11
n = Number of years of lease term = 10
Substituting all the figures into equation (1), we have:
P = ($421,000 * (0.11 * (1 + 0.11)^10)) / (((1 + 0.11)^10) - 1)
P = $71,486.40
Therefore, the annual lease payment for Situation 2 is $71,486.40.
For Situation 3
P = Annual lease payments = ?
A = Fair value of leased asset = $186,000
r = interest rate = Lessor’s rate of return = 9%, or 0.09
n = Number of years of lease term = 4
Substituting all the figures into equation (1), we have:
P = ($186,000 * (0.09 * (1 + 0.09)^4)) / (((1 + 0.09)^4) - 1)
P = $57,412.37
Therefore, the annual lease payment for Situation 3 is $57,412.37.
$165,000 to $198,600. Variable costs and their percentage relationship to sales are sales commissions 7%, advertising 5%, travel 3%, and delivery 1%. Fixed selling expenses will consist of sales salaries $35,400, depreciation on delivery equipment $6,700, and insurance on delivery equipment $1,300. Prepare a monthly selling expense flexible budget for each $11,200 increment of sales within the relevant range for the year ending
Answer:
see explanation
Explanation:
Use the $11,200 increment of sales only. Then effect expenses dependable on the sales. Find the total.
Question 5 of 10 Atax added to the cost of an item bought at a store is ain) O A credit tax 2. income tax c. property tax D sales tax
A tax added to the cost of an item bought in a store is a sales tax. Thus, option D is correct.
What is a sales tax?A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority. The sale and use tax is frequently exempted for some goods and services, including food, education, and medical. A sales tax is similar to a value-added tax (VAT) that is levied on products and services. Key distinctions can be found in the comparison with sales tax. The sale of this item is subject to a retail sales tax of 8.5%, which is shown on the cash register receipt.
Therefore, we can conclude that option D is correct.
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According to behavioral economics, consumers A. do not always behave rationally because they ignore sunk costs. B. always behave rationally because they take into account monetary costs and nonmonetary opportunity costs. C. do not always behave rationally because they fail to ignore sunk costs . D. always behave rationally because they are overly optimistic about their future behavior. E. do not always behave rationally because they take into account nonmonetary opportunity costs.
Answer:
A. do not always behave rationally because they ignore sunk costs.
Explanation:
Behavioral economics can be defined as a branch of economics that typically deals with the study of market transactions in which consumers of goods and services make choices or buying decisions that doesn't look economically rational.
According to behavioral economics, consumers do not always behave rationally because they ignore sunk costs i.e being overly optimistic about their behavior in the future while ignoring the fact that the money has been spent on purchase and cannot be recovered again.
Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered. Thus, because a sunk cost has been incurred by an individual or organization it can't be recovered and as such it is irrelevant in the decision-making process such as investments, projects etc.
Basically, sunk costs are referred to as fixed costs.
Which type of interview presents the interviewee with a project which the interviewee must create and carry out a plan for?
Select the best answer choice:
A.
Behavioral interview
B.
Informational interview
C.
Case interview
D.
Panel interview
Answer:C
Explanation:
A behavioral interview is obviously based on behavior.
A informational interview is where you have to know more.
A case interview is where you basically work as an employee to see how you can manage or do the job.
A panel interview is where there’s many interviewers and one candidate
V Boutique is a fashion house that designs, manufactures, and sells evening gowns. Their lowest-selling design is a vibrant green strapless gown in Dupioni silk. V Boutique is considering lowering the selling price of the gown to stimulate demand. However, before lowering the price, they must evaluate the total costs associated with the gown.
. Fabric and materials - $62/gown
. Labor to construct the gown - $40/gown
. Equipment cost for these gowns (steamer and sewing machines) $3,000
V Boutique anticipates selling 500 gowns after lowering the selling price. Assuming their projection is accurate, what is the total average cost they will incur per gown?
Answer:
V. Boutique
Assuming their projection of 500 gowns is accurate, the total average cost they will incur per gown is:
= $108.
Explanation:
a) Data and Calculations:
Unit variable costs:
Fabric and materials per gown = $62
Labor cost per gown to construct the gown = $40
Total unit variable costs per gown = $102
Unit fixed costs:
Equipment cost = $3,000/500 $6
Total average costs per gown = $108
b) The average cost per gown equals the unit costs (variable costs per unit and the fixed costs per unit). V. Boutique incurs a total equipment cost of $3,000 for the 500 gowns. This means that each gown consumes $6 ($3,000/500) in equipment costs.
On July 31, 2017, Crane Company had a cash balance per books of $6,355.00. The statement from Dakota State Bank on that date showed a balance of $7,905.80. A comparison of the bank statement with the Cash account revealed the following facts.
1. The bank service charge for July was $19.00.
2. The bank collected $1,630.00 for Crane Company through electronic funds transfer.
3. The July 31 receipts of $1,309.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.
4. Company check No. 2480 issued to L. Taylor, a creditor, for $394.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $349.00.
5. Checks outstanding on July 31 totaled $1,979.10.
6. On July 31, the bank statement showed an NSF charge of $685.00 for a check received by the company from W. Krueger, a customer, on account.
Question Completion:
Prepare a bank reconciliation statement as of July 31, 2017.
Answer:
Crane CompanyBank Reconciliation Statement as of July 31, 2017
Balance as per bank statement $7,905.80
Add Uncredited deposits 1,309.30
Less Checks outstanding 1,979.10
Balance as per adjusted cash book $7,236.00
Explanation:
a) Data and Analysis:
July 31, 2017:
Cash balance per books of $6,355.00
Bank statement balance = $7,905.80
Reconciling items:
1. Bank service charge$19.00
2. Direct EFT receipt $1,630.00
3. Uncredited deposits $1,309.30
4. Understated check No. 2480 $45
5. Checks outstanding $1,979.10
6. NSF charge of $685.00 (W. Krueger)
Cash Book Adjustment as of July 31, 2017
Balance as per cash book $6,355.00
add: Direct EFT receipt 1,630.00
less: Bank service charge 19.00
Understated check No. 2480 45.00
NSF charge 685.00
Adjusted Cash Book balance $7,236.00
You are sitting around the fire at a lodge in Dillingham, Alaska, discussing a fishing expedition you are planning with your colleagues at Great Alaska Adventures (GAA). Earlier in the day you received a fax from the president of BlueNote, Inc. The president wants to reward her top management team by taking them on an all-expense-paid fly-fishing adventure in Alaska. She would like GAA to organize and lead the expedition.
You have just finished a preliminary scope statement for the project (see below).
You are now brainstorming potential risks associated with the project.
1. Brainstorm potential risks associated with this project. Try to come up with at least five different risks.
2. Use a risk assessment form similar to Figure 7.6 to analyze identified risks.
3. Develop a risk response matrix similar to Figure 7.8 to outline how you would deal with each of the risks.
PROJECT SCOPE STATEMENT
PROJECT OBJECTIVE
To organize and lead a five-day fly-fishing expedition down the Tikchik River system in Alaska from June 21 to 25 at a cost not to exceed $35,000.
DELIVERABLES
• Provide air transportation from Dillingham, Alaska, to Camp I and from Camp II back to Dillingham.
• Provide river transportation consisting of two eight-man drift boats with outboard motors.
• Provide three meals a day for the five days spent on the river.
• Provide four hours fly-fishing instruction.
• Provide overnight accommodations at the Dillingham lodge plus three fourman tents with cots, bedding, and lanterns.
• Provide four experienced river guides who are also fly fishermen.
• Provide fishing licenses for all guests.
MILESTONES
1. Contract signed January 22.
2. Guests arrive in Dillingham June 20.
3. Depart by plane to Base Camp I June 21.
4. Depart by plane from Base Camp II to Dillingham June 25.
TECHNICAL REQUIREMENTS
1. Fly in air transportation to and from base camps.
2. Boat transportation within the Tikchik River system.
3. Digital cellular communication devices.
4. Camps and fishing conform to state of Alaska requirements.
LIMITS AND EXCLUSIONS
1. Guests are responsible for travel arrangements to and from Dillingham, Alaska.
2. Guests are responsible for their own fly-fishing equipment and clothing.
3. Local air transportation to and from base camps will be outsourced.
4. Tour guides are not responsible for the number of King Salmon caught by guests.
CUSTOMER REVIEW
The president of BlueNote, Inc.
Solution :
Risk management first involves the identification of the potential risk that may be involved. It should focus both on the objectives as well as events that could cause the consequences.
Some of the major risks that can be involved are :
• sudden weather conditions which may not support the flight travel.
• Embargo on fishing by the State or local authority suddenly
• any kind of physical injury to the members of the group
• there may be forest fire around the lake
• technical error that might occur during the course of adventures
The impact for the risk that includes the majuere risk will be very high for all the parameters that can increase the cost by 40%, it can also lead to increase in time by about 20% which can cancel the expedition. . These types of risk will not be covered under any scope.
For the physical risk, the impact will be moderate for the parameters.
Risk Response Matrix
Risk Response Contigency plan Trigger Who is responsible
Force Mitigate Choosing another Situation is Nils
Majuere destination as a back not clear in
up. 24 hours.
Physical Mitigate Proper training and After observing Eddie
injury safety kits the participants
Sable, Inc. has budgeted direct materials purchases of $400,000 in March and $500,000 in April. Past experience indicates that the company pays for 60% of its purchases in the month of purchase and the remaining 40% in the next month. Other costs are all paid during the month incurred. During April, the following items were budgeted: Wages expense $120,000 Purchase of office equipment 200,000 Selling and administrative expenses 126,000 Depreciation expense 18,000 Compute the amount of budgeted cash disbursements for April.
Answer:
$906,000
Explanation:
Cash disbursements for April.
Purchases - 60 % $300,000
Purchases - 40 % $160,000
Wages expense $120,000
Purchase of office equipment $200,000
Selling and administrative expenses $126,000
Total $906,000
therefore,
the amount of budgeted cash disbursements for April is $906,000
Trends such as more frequent shipments, lighter-weight shipments, and higher-value shipments:_________
a. help standardize rates on air and ocean shipments for incoming and outgoing freight
b. make ocean freight more effective than it has been in the past
c. increase the growth of airfreight traffic
d. have decreased the cost of containerization
Answer:
B
Explanation:
B is the answer I am not 100 percent sure
Bonita Industries financed the purchase of a machine by making payments of $29000 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.86660. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was the cost of the machine to Bonita?
Answer:
Cost of Machine today = $115788.59
Explanation:
To calculate the cost of machine to Bonita in today's term, we need to calculate the present value of annuity. We know that the payments made are in form of an ordinary annuity because the amount of payment is fixed (29000) , the payments are made after equal interval of time (at the end of each year) and are made in finite number (5 years).
We will multiply the annuity payment per period by the PV of ordinary annuity factor as provided in the question to calculate the value or price of machine today.
Cost of Machine today = 29000 * 3.99271
Cost of Machine today = $115788.59
Question 8 of 10
Which of the following features might a kiosk use to engage shoppers?
O A. Several endcaps
OB. A touch screen computer
OC. A billboard
OD. Point-of-sale signs
SUBMIT
Answer:B. A touch screen computer
Explanation:
A screen touch computer might a kiosk use to engage shoppers. Thus, the correct answer is option B.
What is a computer?A computer is a machine that can be programmed to automatically perform sequences of arithmetic or logical operations (computation). Programs are generic sets of operations that modern digital electronic computers can perform. These programmes allow computers to perform a variety of tasks.
A touch screen is a type of electronic display screen that also functions as an input device. A user interacts with a computer, tablet, smartphone, or touch-controlled appliance by tapping pictures, moving elements, or typing words on the screen with hand gestures and fingertip movements.
Therefore, a touch screen computer is useful for kiosk to engage shoppers.
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1. Please mention the relationship between demand and supply
2. Please use at least one demand and supply curve
3. Please mention the change for demand and supply curve
Answer:
1.It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise. There is an inverse relationship between the supply and prices of goods and services when demand is unchanged.
2.Supply and demand, in economics, relationship between the quantity of a commodity that producers wish to sell at various prices and the quantity that consumers wish to buy.
3.A demand curve shows the relationship between quantity demanded and price in a given market on a graph. ... A supply curve shows the relationship between quantity supplied and price on a graph. The law of supply says that a higher price typically leads to a higher quantity supplied.
Ahmed Company purchases all merchandise on credit. It recently budgeted the following month-end accounts payable balances and merchandise inventory balances. Cash payments on accounts payable during each month are expected to be: May, $1,200,000; June, $1,500,000; July, $1,400,000; and August, $1,400,000
Accounts Payable Merchandise Inventory
May 31 $150,000 $260,000
June 30 130,000 500,000
July 31 300,000 300,000
August 31 120,000 330,000
(1) Compute the budgeted amounts of merchandise purchases.
(2) Compute the budgeted amounts of cost of goods sold.
Answer:
1. Computation of Budgeted amount of Merchandise Purchases
Particulars June July August
Ending Accounts Payable $130,000 $300,000 $120,000
Payments on account $1,500,000 $1,400,000 $1,400,000
$1,630,000 $1,700,000 $1,520,000
Beginning Accounts Payable $150,000 $130,000 $300,000
Purchases $1,480,000 $1,570,000 $1,220,000
2. Computation of Budgeted amount of Cost of Goods Sold
Particulars June July August
Beginning inventory $260,000 $500,000 $300,000
Purchases $1,480,000 $1,570,000 $1,220,000
Cost of goods AFS $1,740,000 $2,070,000 $1,520,000
Ending Inventory $500,000 $300,000 $330,000
Cost of goods sold $1,240,000 $1,770,000 $1,190,000
On January 1, Cheyenne Corp. had 61,400 shares of no-par common stock issued and outstanding. The stock has a stated value of $4 per share. During the year, the following transactions occurred.
Apr. 1 Issued 11,250 additional shares of common stock for $11 per share.
June 15 Declared a cash dividend of $1.90 per share to stockholders of record on June 30.
July 10 Paid the $1.90 cash dividend. Dec. 1 Issued 5,000 additional shares of common stock for $12 per share.
Dec. 15 Declared a cash dividend on outstanding shares of $2.00 per share to stockholders of record on December 31.
Required:
Prepare the entries, if any, on each of the three dates that involved dividends.
Answer:
Journal entry
Date Account & Explanation Debit Credit
June 15 Cash dividend $138,035
(61400+11250)*$1.9
Dividend payable $138,035
(To record dividend declared)
July 10 Dividend payable $138,035
Cash $138,035
(To record dividend paid)
Dec 15 Cash dividend $155,300
(61400+11250+5000)*2
Dividend payable $155,300
(To record dividend declared)
The shadow banking system refers to:______.
a. Non-bank financial firms that acted as banks by borrowing and lending of U.S. Treasury bills in an effort to make a profit.
b. Non-bank financial firms that acted as banks by borrowing and lending in an effort to make a profit.
c. Non-bank financial firms that acted as stock brokers by buying and selling stocks in an effort to make a profit.
d. Non-bank financial firms that provide profit advice to hedge fund managers.
Answer:
b. Non-bank financial firms that acted as banks by borrowing and lending in an effort to make a profit.
Explanation:
A shadow banking system can be described as a group of non-bank financial intermediaries that render services that are similar to the services that normal commercial banks render but the members of the group are not subject to normal banking regulations.
In addition, a shadow baking system can also be described as unregulated services rendered by regulated institutions.
Structured investment vehicles (SIVs), limited-purpose finance companies (LPFCs), asset-backed commercial paper (ABCP) conduits, and among others are examples of shadow banks.
Based on this explanation, the correct option is b. Non-bank financial firms that acted as banks by borrowing and lending in an effort to make a profit.
The Gecko Company and the Gordon Company are two firms whose business risk is the same but that have different dividend policies. Gecko pays no dividend, whereas Gordon has an expected dividend yield of 6 percent. Suppose the capital gains tax rate is zero, whereas the income tax rate is 40 percent. Gecko has an expected earnings growth rate of 10 percent annually, and its stock price is expected to grow at this same rate.
Required:
If the aftertax expected returns on the two stocks are equal (because they are in the same risk class), what is the pretax required return on Gordon’s stock?
Answer:
12.4%
Explanation:
After-Tax Return = Capital Gains Growth Rate (g) + Dividend Yield*(1-Tax Rate)
Capital Gains Growth Rate (g) = After-Tax Return - Dividend Yield*(1-Tax Rate)
Capital Gains Growth Rate (g) = 10 - 6*(1-40%)
Capital Gains Growth Rate (g) = 6.4%
Pre-Tax Return = Capital Gains Growth Rate (g) + Dividend Yield
Pre-Tax Return = 6.4% + 6%
Pre-Tax Return = 12.4%
Hence, the pretax required return on Gordon’s stock is 12.4%
Marketing and distributing the company's product are categorized as
Answer:
thye are categorized as a channel
Explanation:
Units-of-activity Depreciation A truck acquired at a cost of $160,000 has an estimated residual value of $10,350, has an estimated useful life of 41,000 miles, and was driven 3,300 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost $fill in the blank 1 (b) The depreciation rate $fill in the blank 2 per mile (c) The units-of-activity depreciation for the year $fill in the blank 3
Answer:
Cost of Truck = $160,000
Residual Value = $10,350
Useful Life = 41,000 miles
a. Depreciable Cost = Cost of Truck / Residual Value
Depreciable Cost = $160,000 - $10,350
Depreciable Cost = $149,650
b. Depreciation Rate = Depreciable Cost / Useful Life
Depreciation Rate = $149,650 / 41,000
Depreciation Rate = $3.65 per mile
c. Number of miles driven during the year = 3,300
Depreciation for the Year = Depreciation Rate * Number of miles driven during the year
Depreciation for the Year = $3.65 per mile * 3,300
Depreciation for the Year = $12,045