Answer:
withdrawal of official recognition from an organization or country.
plz mark me as brainliest
The Michael Miller Corporation has a sales budget for next month of $200,000. Cost of goods sold is expected to be $125,000. All goods are paid for in the month following their purchase. The beginning inventory of merchandise is $8,000, and an ending inventory of $6,000 is desired. Beginning accounts payable is $26,000. How much merchandise inventory will The Michael Miller Corporation need to purchase next month
Answer:
the inventory to be purchased next month is $123,000
Explanation:
The computation of the inventory to be purchased next month is shown below:
= Cost of goods sold + closing inventory - opening inventory
= $125,000 + $6,000 - $8,000
= $123,000
hence, the inventory to be purchased next month is $123,000
We simply applied the above formula so that the purchase value of the inventory could come
ob 412 was one of the many jobs started and completed during the year. The job required $9,700 in direct materials and 45 hours of direct labor time at a total direct labor cost of $10,600. If the job contained four units and the company billed at 65% above the unit product cost on the job cost sheet, what price per unit would have been charged to the customer
Answer:
the price per unit that should be charged to the customer is $8,373.75
Explanation:
The computation of the price per unit that should be charged to the customer is shown below
Unit product cost = ($9,700 + $10,600) ÷ 4 units
= $5,075 per unit
Now the price per unit is
= Unit product cost × given percentage
= $5,075 × 165%
= $8,373.75
hence, the price per unit that should be charged to the customer is $8,373.75
It costs Bonita Industries $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 3100 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Bonita has sufficient unused capacity to produce the 3100 scales. If the special order is accepted, what will be the effect on net income?
a. $46500 increase.
b. $6200 increase.
c. $6200 decrease.
d. $9300 decrease.
Answer:
Effect on income= $6,200 increase
Explanation:
Because it is a special offer, and there is unused capacity, we will not take into account the fixed costs:
Total unitary variable cost= 12 + 1= $13
Selling price per unit= $15
To calculate the effect on income, we need to use the following formula:
Effect on income= number of units*unitary contribution margin
Effect on income= 3,100*(15 - 13)
Effect on income= $6,200 increase
AN IMPLIED CONTRACT CAN BEST BE DEFINED AS: WILL NOT BE RECOGNIZED AS ENFORCEABLE BY THE COURTS A TRUE FORM OF A FORMAL CONTRACT THE INTENTIONS OF THE PARTIES ARE INFERRED FROM THEIR CONDUCT BY THE COURT AS WELL AS THE CIRCUMSTANCES OF THE CONTRACT WHICH EXISTS IN THE EYES OF THE LAW, EVEN THOUGH THE PARTIES HAVE NOT IN ANY WAY INTENDED TO FORM THE CONTRACT
Answer: the intentions of the parties is inferred from their conduct by the court as well as the circumstances of the contract
Explanation:
An implied contract is referred to as an agreement that's legally-binding which was created due to the actions, or circumstances of the parties that were involved.
In an implied contract, the parties typically possess no written contract, but an obligation is created by the law based on the conduct of the parties involved.
A plant asset was purchased on January 1 for $140000 with an estimated salvage value of $20000 at the end of its useful life. The current year's Depreciation Expense is $10000 calculated on the straight-line basis and the balance of the Accumulated Depreciation account at the end of the year is $40000. The remaining useful life of the plant asset is
Answer:
useful life= 12 years
Explanation:
Giving the following information:
Purchase price= $140,000
Salvage value= $20,000
Annual depreciation= $10,000
To calculate the useful life, we need to use the straight-line method formula:
Annual depreciation= (original cost - salvage value)/estimated life (years)
10,000= (140,00 - 20,000) / useful life
10,000useful life = 120,000
useful life= 120,000 / 10,000
useful life= 12 years
Perfect Patties, Inc. has several divisions. One division provides birthday parties at their facility. Each party sold provides entertainment, decorations, food, and party favors for 10 children. The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results.
Perfect Parties
Birthday Party Division Analysis of Revenues and Costs
For the Month Ended June 30
Planning Budge Actual Results Variances
Number of parties 80 92
Revenue $36,000 $39,560 $3,560 F
Expenses:
Food costs 7,200 8,648 1,448 U
Party supplies 3,200 3404 204 U
Party worker wages 6,400 7,728 1,328 U
Administrative salaries 3,700 3,500 200 F
Equipment depreciation 1,200 1,200 - None
Rent 5,000 5,000 - None
Total expense 26,700 29,480 2,780 U
Net operating income $9,300 10,080 $780 F
Food costs, party supplies, and party worker wages are variable costs.
Administrative salaries, equipment depreciation and rent are fixed costs.
Prepare a new report for June using the flexible budget approach.
Answer:
Perfect Parties, Inc.
Birthday Party Division
Analysis of Revenues and Costs
For the month ended June 30
Flexible Budget Actual Results Variances
Number of parties 80 92
Revenue $41,400 $39,560 $1,840 U
Expenses:
Food costs 8,280 8,648 368 U
Party supplies 3,680 3,404 276 F
Party worker wages 7,360 7,728 368 U
Administrative salaries 3,700 3,500 200 F
Equipment depreciation 1,200 1,200 - None
Rent 5,000 5,000 - None
Total expense 29,220 29,480 260 U
Net operating income $12,180 $10,080 $2,100 U
Explanation:
a) Data and Calculations:
Birthday Party Division Analysis of Revenues and Costs
For the Month Ended June 30
Planning Budget Actual Results Variances
Number of parties 80 92
Revenue $36,000 $39,560 $3,560 F
Expenses:
Food costs 7,200 8,648 1,448 U
Party supplies 3,200 3404 204 U
Party worker wages 6,400 7,728 1,328 U
Administrative salaries 3,700 3,500 200 F
Equipment depreciation 1,200 1,200 - None
Rent 5,000 5,000 - None
Total expense 26,700 29,480 2,780 U
Net operating income $9,300 10,080 $780 F
Flexing the variable revenue and costs:
Revenue $36,000/80 * 92 = $41,400
Food costs 7,200/80 * 92 = $8,280
Party supplies 3,200/80 * 92 = $3,680
Party worker wages 6,400/80 * 92 = $7,360
Topic: How Banks Create Money
Skill: Definition
33) Suppose the required reserve ratio is 20%, A $40 million cash deposit will, at most, allow an
expansion of the money supply to
Answer:
$200 million
Explanation:
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = amount deposited /required reserve requirement
Required reserve requirement is the percentage of deposits required of banks to keep as reserves by the central bank
$40 million / 0.2 = $200 million
Batista Company management wants to maintain a minimum monthly cash balance of $19,900. At the beginning of April, the cash balance is $19,900, expected cash receipts for April are $244,400, and cash disbursements are expected to be $253,300. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance
Answer:
the amount must be borrowed is $8,900
Explanation:
The computation of the amount must be borrowed is shown below:
Opening cash balance $19,900
Add: cash receipts $244,400
Less: cash disbursements -$253,300
Cash balance after disbursements $11,000
Minimum monthly cash balance $19,900
Amount to be borrowed $8,900
hence, the amount must be borrowed is $8,900
The PPP theory fails in reality for all of the following reasons EXCEPT Group of answer choices monopolistic or oligopolistic practices in goods markets. restrictions on trade. inflation rates are unrelated to money supply growth. transport costs. the inflation data reported in different countries are based on different commodity baskets.
Answer:
inflation rates are unrelated to money supply growth.
Explanation:
purchasing power parity which is regarded as (PPP) is a macroeconomic analysis metric which gives comparison between economic productivity aas well as standards of living existing between countries. It can be regarded as economic theory which gives comparison of currencies of different countries using an approach of "basket of goods". The PPP theory can hold in reality for instance, when inflation rates are unrelated to money supply growth.
EXCEPT Group of answer choices monopolistic or oligopolistic practices in goods markets. restrictions on trade. the inflation data reported in different countries are based on different commodity baskets.
Karl's Keychain Company produces keychains that sell in its stores for $1 each. On January 1, 2015, the company had inventory of 10,000 keychains. During 2015, the company produced 900,000 keychains. At the end of the business year on December 31, 2015, the company's inventory of keychains was 8,000. What was the value of Karl's inventory investment in 2015
Answer:
$2,000
Explanation:
Calculation to determine the value of Karl's inventory investment in 2015
On January 1, 2015, beginning inventory $10,000
Less December 31, 2015, ending inventory $8,000
2016 value of Karl's inventory investment $2,000
Therefore the value of Karl's inventory investment in 2015 will be $2,000
Interest rates on 4-year Treasury securities are currently 5.55%, while 6-year Treasury securities yield 7.7%. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below. Open spreadsheet If the pure expectations theory is correct, what does the market believe that 2-year securities will be yielding 4 years from now? Calculate the yield using a geometric average. Do not round your intermediate calculations. Round your answer to two decimal places.
Answer:
12.13%
Explanation:
Calculation to determine what the market believe that 2-year securities will be yielding 4 years from now using a geometric average
Yield=((1+6 year rate)^6/(1+4 year rate)^4)^(1/2)-1
Yield =((1+7.7%)^6/(1+5.55%)^4)^(1/2)-1
Yield =0.1213*100
Yield =12.13%
Therefore what the market believe that 2-year securities will be yielding 4 years from now
using a geometric average will be 12.13%
Black Horse Transportation's sales budget for the first quarter follows: January$125,000 February 300,000 March290,000 All sales are on account (credit) with 50% collected in the month of sale, 30% collected in the following month after sale, and 20% collected in the second month after sale. There are no uncollectable accounts. The March cash receipts are:
Answer:
$260,000
Explanation:
Cash Receipts Calculation - March
March Credit Sales ($290,000 x 50%) $145,000
February Credit Sales ($300,000 x 30%) $90,000
January Credit Sales ($125,000 x 20%) $25,000
Total $260,000
Therefore,
The March cash receipts are $260,000
At a movie theater box office, all tickets are sequentially prenumbered. At the end of each day, the beginning ticket number is subtracted from the ending number to calculate the number of tickets sold. Then, ticket stubs collected at the theater entrance are counted and compared with the number of tickets sold. Which of the following situations does this control detect?
a. Some customers presented tickets purchased on a previous day when there wasn't a ticket taker at the theater entrance (so the tickets didn't get torn.)
b. A group of kids snuck into the theater through a back door when customers left after a show.
c. The box office cashier accidentally gives too much change to a customer.
d. The ticket taker admits his friends without tickets.
Cisco Systems Inc. reported the following in its income statement for the year ended July 30, 2016: Basic earnings per share of $2.13 and diluted earnings per share of $2.11. There were 5,053 million weighted average basic shares were outstanding during the year. What approximate net income, did the company report for 2016
Answer:
$10,762,890
Explanation:
Earnings per Share = Net Income attributable to Common Stock holders ÷ Weighted Average Number of Common Stocks
Now, since we have basic earnings per share we an use that to find net income. Net Income is Profit after tax and interest and only available in basic earnings per share calculation.
Net Income attributable to Common Stock holders = Earnings per Share x weighted average basic shares = ($2.13 x 5,053,000) = $10,762,890
Wright Corp. is considering the purchase of a new piece of equipment, which would have an initial cost of $1,000,000 and a 5-year life. There is no salvage value for the equipment. The increase in cash flow each year of the equipment's life would be as follows: Year 1 $ 379,000 Year 2 $ 354,000 Year 3 $ 289,000 Year 4 $ 234,000 Year 5 $ 189,000 What is the payback period
Answer:
The payback period is 2 years and 337 days to cover the initial investment.
Explanation:
Giving the following information:
Cash flows:
Year 1 $ 379,000
Year 2 $ 354,000
Year 3 $ 289,000
Year 4 $ 234,000
Year 5 $ 189,000
Initial investment= $1,000,000
The payback period is the time required for the cash flows to cover the initial investment:
Year 1= 379,000 - 1,000,000= -621,000
Year 2= 354,000 - 621,000= -267,000
Year 3= 289,000 - 267,000= 22,000
To be more accurate:
(267,000 / 289,000)= 0.923*365= 337
The payback period is 2 years and 337 days to cover the initial investment.
Your bank card has an APR of 21% and there is a 3% fee for cash advances. The bank starts charging interest on cash advances immediately. You get a cash advance of $500 on the first day of the month. You get your credit card bill at the end of the month. What is the approximate total finance charge you will pay on this cash advance for the month
Answer:
Total finance charge=$23.75
Explanation:
The amount charged for the use of the fund by a bank is called interest rate. Here it is quoted as 21% per annum but we will need to determine the approximate monthly rate by dividing by 12.
The total finance charge will be equal = Interest rate + advance fee
Monthly interest rate = 21/12 =1.75%
Interest payment = 1.75%× $500=$8.75
Advance fee = 3%× $500= $15
Total finance charge = $8.75 + $15= $23.75
Total finance charge=$23.75
what's an opportunity cost?
Answer:
opportunity cost is the loss or the benefit that could have been enjoyed if the best alternative choice was chosen. As a representation of the relationship between scarcity and choice, the objective of opportunity cost is to ensure efficient use of scarce resources.
Explanation:
At the end of 2017, Buckeyes Industries had a deferred tax asset account with a balance of $28 million attributable to a temporary book-tax difference of $70 million in a liability for estimated expenses. At the end of 2018, the temporary difference is $75 million. Buckeyes has no other temporary differences. Taxable income for 2018 is $200 million and the tax rate is 40%
Prepare the journal entry(s) to record income taxes assuming it is more likely than not that one-fourth of the deferred tax asset will not ultimately be realized.
Taxation is a term for when a taxing authority, usually a government, levies or imposes a financial obligation on its citizens or residents. Since ancient times, paying taxes to governments or officials has been a fundamental aspect of civilisation.
Deferred tax assets and liabilities are categorized in what ways on the balance sheet?If a reporting firm submits a classified balance sheet, deferred tax assets, liabilities, and any associated valuation allowance shall be classified as noncurrent.
Asset/liability strategy : Financial Accounting Standard (FAS) 109 Accounting for Income Taxes (FASB, 1992) outlines the current accounting for deferred taxes and mandates that firms account for taxes using the asset/liability model.
A delayed tax liability typically arises when the government's accounting practices diverge from those of a conventional business. One frequent illustration is the depreciation of fixed assets. Companies often use a straight-line depreciation approach to disclose depreciation in their financial accounts.
A "temporary difference" is the distinction between the carrying value and the tax base. The temporary difference is multiplied by the tax rate to determine the deferred tax liability. The only thing left to do is to calculate the difference once the deferred tax due has been established.
Answer : Taxes total 200, however there are additionally 70 million and in 2018 there is also.
To Learn more about Tax, Refer:
https://brainly.com/question/26316390
#SPJ2
Dog Bone Bakery, which bakes dog treats, makes a special biscuit for dogs. Each biscuit uses 0.75 cup of pure semolina flour. They buy 4,000 cups of flour at $0.55 per cup. They use 3,588 cups of flour to make 4,800 biscuits. The standard cost per cup of flour is $0.54. A. What are the direct materials price variance, the direct materials quantity variances, and the total direct materials cost variance
Answer:
Results are below.
Explanation:
To calculate the direct material rate and quantity variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (0.55 - 0.54)*4,000
Direct material price variance= $40 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (0.75*4,800 - 3,588)*0.55
Direct material quantity variance= $6.6 favorable
Finally, the total variance:
Total direct material variance= 40 + 6.6= $46.6 favorable
You won the lottery when the jackpot was $3,300,000 (annual payments of $165,000 paid for 20 years). Your choice is to take the annual payments for 20 years or take the lump sum payout today. The lottery administration uses a 4% interest rate. What is the value of the lump sum payout
Answer:
Lump sum= $2,242,403.85
Explanation:
First, we need to calculate the future value of the annual payments using the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual payment
FV= {165,000*[(1.04^20) - 1]} / 0.04
FV= $4,913,382.97
Now, the lump sum is the present value of the annual payments:
PV= FV / (1 + i)^n
PV= 4,913,382.97 / (1.04^20)
PV= $2,242,403.85
The following information is given from The Gathering Sound, Inc. for the month of August, 2020: Beginning raw materials inventory $21,600 Ending raw materials inventory $18,600 Beginning work in process inventory $35,000 Ending work in process inventory $37,450 Beginning finished goods inventory $29,340 Ending finished goods inventory $28,995 Raw material purchases $88,210 Direct materials used $89,300 Direct labor used $51,730 Total factory overhead applied $62,076 Calculate the Cost of Goods Sold. a. $203,106 b. $203,656 c. $201,001 d. $200,311 e. $200,656
Answer:
Explanation:
Step 1 : Cost of Goods Manufactured
Step 2 : Cost of Goods Sold
Opening Finished Goods Inventory $29,340
Add Cost of Goods Manufactured
Less Finished Goods Inventory ($28,995)
Cost of Goods Sold
Bankruptcy, Chapter 7. Gigantic Furniture is having its annual "Going Out of Business Sale." If Gigantic Furniture is filing under Chapter 7, will it be back next year for another going out of business sale? (Select the best response.) A. No, Chapter 7 bankruptcy is for the selling off of all the assets of the firm and ceasing all business operations. B. No, Chapter 7 bankruptcy is for restructuring the firm's debt and it does not allow to have more than one "Going Out of Business Sale." C. Yes, Chapter 7 bankruptcy is for restructuring the firm's debt and buying new inventory. D. Yes, Chapter 7 bankruptcy is for the selling off of all the assets of the firm and ceasing all business operations.
Answer:
A. No, Chapter 7 bankruptcy is for the selling off of all the assets of the firm and ceasing all business operations.
Explanation:
In the chapter of Bankruptcy, chapter 7, the firm Gigantic Furniture is going to have its annual " Going Out of Business Sale". Now if the Gigantic Furniture is filing under the Chapter 7, it will not be back for the next year for an another going out of the business sale because Gigantic Furniture is selling off all of its assets and ceasing all its business operations.
A portfolio is composed of two stocks, A and B. Stock A has a standard deviation of return of 23%, while stock B has a standard deviation of return of 29%. Stock A comprises 70% of the portfolio, while stock B comprises 30% of the portfolio. If the variance of return on the portfolio is 0.042, the correlation coefficient between the returns on A and B is _________. Multiple Choice 0.088 0.304 0.213 0.091
Answer:
0.304
Explanation:
The calculation has been done step by step in order to understand the final result. Note that (p) in the below working refers to the correlation coefficient between Stock A and B.
0.042 = (0.70^2)(0.23^2) + (0.30^2)(0.29^2) + 2(0.70)(0.30)(0.23)(0.29)p
0.042 = 0.0259 + 0.0076 + 0.028p
0.042 = 0.0335 + 0.028p
0.042 - 0.0335 = 0.028p
0.0085 = 0.028p
p = 0.0085 / 0.028
p = 0.304
The classical dichotomy is the separation of real and nominal variables. The following questions test your understanding of this distinction.
Deborah spends all of her money on magazines and donuts. In 2008 she earned $27.00 per hour, the price of a magazine was $9.00, and the price of a donut was $3.00.
Which of the following give the nominal value of a variable? Check all that apply.
a. The price of a donut is 0.33 magazines in 2008.
b. The price of a donut is $3.00 in 2008.
c. Deborah's wage is 3 magazines per hour in 2008.
Which of the following give the real value of a variable? Check all that apply.
a. The price of a magazine is $9.00 in 2008.
b. The price of a magazine is 3 donuts in 2008.
c. Deborah's wage is $27.00 per hour in 2008.
Suppose that the Fed sharply increases the money supply between 2008 and 2013. In 2013, Deborah's wage has risen to $54.00 per hour. The price of a magazine is $18.00 and the price of a donut is $6.00.
In 2013, the relative price of a magazine is:________
Between 2011 and 2016, the nominal value of Maria's wage _______________and the real value of her wage ____________________-
Monetary neutrality is the proposition that a change in the money supply ___________________ nominal variables and _____________real variables.
Answer:
Nominal variable - Price of a donut is $3.00 in 2008
Real variable- Price of a magazine is 3 donuts in 2008.
Explanation:
In 2008 the price of a magazine was $9.00. While the price of a donut was $3.00. Deborah's income was $27.00 per hour.
Nominal variable's are those which are expressed in terms of money. While, real variables are those variables which are expressed in terms of other goods or services.
The nominal variables will include:
a. The price of a donut is $3.00 in 2008.
The other two options are not nominal variables as they are expressed in terms of the other variable.
The following variables give us the real value of a variable:
b. The price of a magazine is 3 donuts in 2008.
Deborah's wage and price of a magazine are both nominal variables. They are not expressed in terms of any other variable.
In 2013, Deborah's wage is $54.00. The price of a magazine is $18.00 and price of a donut is $6.00.
Relative price is the price price of a good expressed in terms of the other good. The price of magazine in 2013 is $18.00. While, price of donut is $6.00.
[tex]Relative price = \frac{Price of a magazine}{Price of a donut} \\ = \frac{18}{6}\\ = 3[/tex]
Thus, in 2013, the relative price of a magazine is 3 donuts.
As can be seen that from 2008 - 2013, the wage doubles. But at the same time the price of both magazine and donuts also doubles. This can be seen from the relative purchasing power of income. So, between 2008-2013 the nominal value of wage increased and the real value of her wage remained the same.
Monetary neutrality is the proposition that a change in the money supply affects nominal variables and does not affect real variables.
Juan works for you in the Customer Service Department. He hates answering incoming customer calls and prefers to respond to customer emails. Juan is scheduled to answer the phones today and insists that you let him switch with Shawna, who is assigned to e-mail duty. Although you have refused to allow Juan to switch schedules in the past, you agree to do so today. What is your style for handling this conflict
Answer:
Accommodating Style
Explanation:
It is correct to say that the style of accommodation was chosen to deal with the conflict exposed in the question above. This style understands that a party agrees to meet a person's needs for the sake of the relationship.
Accommodation in conflict resolution can be effective when the final result will not be as impacted by what you want to accept, as in the case of the question, since the change in the roles of Juan and Shawna will not affect the final result.
Transformational leaders enhance performance of employees by ________. Group of answer choices Restricting creativity among employees Focusing on short-term goals for employees Instilling pride in employees and gaining their respect and trust Establishing goals, roles, and requirements
Answer:
gaining their respect and trust establishing goals roles and requirements
You manage a cable company that offers 2 channels - NBC and Fox. You face 2 types of customers (type A and type B) and there are 100 customers of each type. Their respective values for each channel are:
Type A Type B
NBC $10 $15
Fox $3 $7
Suppose that you sell each channel separately. You should set a price of $__________ for NBC and a price of $_________ for Fox.
Answer:
You should set a price of $___15_____ for NBC and a price of $___7___ for Fox.
Explanation:
a) Data and Calculations:
Customer Type A Type B Maximum Price
NBC $10 $15 $15
Fox $3 $7 $7
Combined value $13 $22
b) The cost of each channel would have enabled a better decision outcome to be reached. However, it is better to set the maximum prices since individual values can change based on the forces of demand and supply.
What macroeconomic goal is Real GDP used to measure for?
Answer:
"Economic growth " would be the correct answer.
Explanation:
Throughout a particular year, real GDP tests the overall production as well as commodities of the economy, including light of the price adjustments.People should measure or equate GDP throughout the year as inflation would be factored into the equation which would be a fair predictor about wherever the market cycle goes.Thus the above is the right answer.
jasmine has too many files in her math folder and can't easily find her class notes. what should she do to help her find her notes easily?
Answer:
used folders or sticky notes in a binder. Notes saying what they are help too.
Explanation:
What types of decision need to be made by groups?