The majority of the crude oil and petroleum products that the United States bought in 2017 came from Canada.
What are the top 5 countries that the US imports crude oil from?In 2021, the top five source nations for the United States' gross petroleum imports were Mexico, Canada, Russia, Saudi Arabia, and Colombia. Recall that the table's rankings are determined by gross imports by nation of origin. Due to independent data rounding, net import volumes in the table could not match gross imports minus exports.
Although the United States exports petroleum to 180 nations, Mexico and Canada are its two biggest export destinations. U.S. petroleum imports and exports have been significantly impacted by the recent rise in domestic oil output, particularly since 2010.
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According to the above material, there exist large differences between economic growth rate using traditional expenditure approach and the satellite night-light data. How do you evaluate the night-light data method? and can you identify several reasons why there exists such differences?
The use of satellite night-light data as a method to evaluate economic growth has both strengths and limitations. Reasons for Differences between Traditional Expenditure Approach and Night-light Data: Informal Economy, Data Limitations, Urbanization Bias and Structural Changes.
Here is an evaluation of the night-light data method and several reasons for the differences observed between the traditional expenditure approach and the night-light data:
Evaluation of the Night-light Data Method:
Objective and Timely: Satellite night-light data provides an objective and timely measure of economic activity. Wide Coverage: Night-light data can cover large geographical areas, including remote and inaccessible regions. Granularity: The data can be analyzed at a fine-grained level, allowing for detailed spatial analysis of economic patterns. This can help identify pockets of growth and disparities within regions.Reasons for Differences between Traditional Expenditure Approach and Night-light Data:
Informal Economy: The traditional expenditure approach relies on official economic data, which may not fully capture the informal sector. Data Limitations: Night-light data has its limitations. It primarily measures economic activity related to lighting, which may not capture other dimensions of economic growth such as services or knowledge-based industries. Urbanization Bias: Night-light data tends to be more representative of urban areas with higher population density and greater access to electricity. Structural Changes: The traditional expenditure approach focuses on consumption and investment, while night-light data primarily captures the energy consumption associated with lighting.For such more question on economic:
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What is a college campus CERT is most likely to focus on?
A. Campus emergency situations
B. Student security
C. Community service hours
D. Weather-related situations
The college campus CERT is most likely to focus on Student security. Therefore, option B is the correct option.
What is CERT?The CERT is the acronym for “Community Emergency Response Team”. The CERT is a security team that handles the security incidents related to disasters and hazards which affect the health, life, and wealth of the people. Therefore, this preparedness is important.
The Community Emergency Response Team prepared the communities who face and experience the disasters themselves and many times the assistance gets delayed which causes more harm. Preparing the community is a more reliable and sustainable alternative when dealing with disasters.
Student security is most likely to be the focus of the college campus CERT. As a result, choice B is the best one.
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Answer:Campus Emergency Situations
Explanation:
Some universities have a campus CERT as part of their emergency management program. A campus CERT generally focuses on campus emergency situations but may choose or be asked to participate in assisting their greater community depending upon their organization.
What is the term for a loan with a co-signer?
A)A automobile loan
B)A guaranteed loan
C)A consignment loan
D)A contractual loan
Dillon Company incurred the following costs while producing 480 units: direct materials, $9 per unit; direct labor, $22 per unit; variable manufacturing overhead, 12 per unit; total fixed manufacturing overhead costs, $7,680; variable selling and administrative costs, $4 per unit; total fixed selling and administrative costs, $4,320. There are no beginning inventories.
What is the unit product cost using variable costing?
A. $72 per unit
B. $59 per unit
C. $47 per unit
D. $43 per unit
Answer:
The unit cost is $43 per unit
Explanation:
Required
Determine the unit product cost?
Using variable costing, the unit product cost is:
\(Unit = DM+ DL + VMO\)
\(DM = Direct\ Materials =\$9\)
\(DL = Direct\ Labor =\$22\)
\(VMO = Variable\ Manufacturing\ Overhead = \$12\)
So, we have:
\(Unit = \$9 + \$22 + \$12\)
\(Unit = \$43\)
Hence, the unit cost is $43 per unit
the united states measures its economy by how many goods and services are produced in a ___.; true or false? money is a factor of production.; economically, a \" need\" is something __________.; road building and purchasing military equipment are examples of purchasing by
1. The United States measures its economy by the amount of goods and services produced in a given year.
The size of a country's overall economy is typically measured by its GDP, which is the value of all final goods and services produced within a country in a given year.
Measuring GDP entails calculating the total dollar value of the production of millions of different goods and services smartphones, cars, music downloads, computers, steel, bananas, college educations, and all other new goods and services produced in the current year.
2. Capital is commonly used in economics to refer to money. Money, on the other hand, is not a factor of production because it is not directly involved in the production of a good or service. As a result, the answer is False.
Capital, on the other hand, facilitates production processes by allowing entrepreneurs and business owners to purchase capital goods or land or to pay wages.
3. A "need" in economic terms is something that is required to sustain life.
Simply put, a need is something that is required in order to survive. In economics, the concept of survival is real, which means that someone would die if their needs were not met. This includes necessities such as food, water, and shelter.
4. Road construction and military equipment purchases are examples of government purchases.
The government is in charge of purchasing military equipment and constructing roads. These purchases are classified as gross investment expenditures. The government treats this as its own asset when it invests. The government also purchases infrastructure projects such as roads and civil servant payrolls.
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Economics
Many manufacturing companies are investing in robots to complete the work traditionally done by employees. How would this have an impact on the companies' fixed and variable costs?
Investment in robots will increase the fixed cost and reduce the variable cost.
What is the impact on fixed and variable cost?
Fixed cost is the cost that remains constant regardless of the level of output. Variable cost is the cost that is determinant on the level of output. It increases with the level of output.
Investment in robots would be expensive for the firm. This would increase the fixed cost but cost of using the robots do not depend on their output. Thus variable cost will be reduced.
On the other hand, using employees would reduce fixed cost and increase the variable cost. Employees are usually paid based on their level of output. This would increase the variable cost. There is little or no upfront cost required with employing labor. Thus fixed cost is low.
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(
Which of the following are characteristics of commercial paper?
a. Long term; government issued
O b. Medium term; mortgage backed
c. Short term; government issued
O d. Short term; unsecured
D.) Short Term; Unsecured
B.) Medium Term; Mortgage backed
Short-term; unsecured are the characteristics of commercial paper. The correct option is D. Commercial paper is a type of promissory note that is unsecured and pays a set interest rate.
What are the advantages and disadvantages of commercial paper?Commercial paper is a productive approach for businesses to obtain funding directly from investors. On the other hand, commercial paper is unsecured and entails more significant risk than other forms of debt. Commercial paper is another short-term financing option, although it lacks the solidity of longer-term financial instruments.
An unsecured, short-term debt product is commercial paper. Businesses frequently provide it to cover their wages, accounts payable, inventories, and other short-term liabilities. On commercial paper, maturities can be as short as one day and as long as 270 days, with a 30-day average.
Thus, the ideal solution is option D.
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16. All ideas deserve to exist and must be in the market place. True/False
Answer:
True
All ideas deserve to exist and must be in a market place
In order to be fully rested before Angel’s big History test, she should get at least________hours of sleep.
a.
8
c.
9
b.
7
d.
10
Please select the best answer from the choices provided
A
B
C
D
Answer:
B. 7 hours
Explanation:
right on edg
Answer: B. 7 hours
Explanation: On Edge!
Please Help!
Rosa works as an administrative assistant for a clothing company. Which of the following tasks might she do in her
job?
Teaching young children how to read
Arranging travel plans for clients
Manage schedules and help with office meetings
Answer:
C. Manage schedules and help with office meetings
What was the commission system?
An elected commission system, often made up of three, five, or seven commissioners, is in charge of administering commission. Each commissioner is also in charge of a department or departments.
However, the council-manager system has replaced the commission system in the majority of cities. In a city commission, a small governing body known as a commission with both legislative and executive authority to run the municipality is composed of independently elected officials system. There are a certain number of members on the commission, typically five or seven. A type of variable-pay compensation for goods or services sold are commissions. Salespeople are frequently encouraged and rewarded with commissions.
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Pappy’s Potato has come up with a new product, the Potato Pet (they are freeze-dried to last longer). Pappy’s paid $120,000 for a marketing survey to determine the viability of the product. It is felt that Potato Pet will generate sales of $835,000 per year. The fixed costs associated with this will be $204,000 per year, and variable costs will amount to 20 percent of sales. The equipment necessary for production of the Potato Pet will cost $865,000 and will be depreciated in a straight-line manner for the 4 years of the product life (as with all fads, it is felt the sales will end quickly). This is the only initial cost for the production. Pappy’s has a tax rate of 23 percent and a required return of 13 percent. Calculate the payback period, NPV, and IRR. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter your IRR answer as a percent.)
Answer:
NPV: $84,659.21
Payback Period: less than 1 year
IRR: 32.17%
Explanation:
To calculate the payback period, we need to find out how long it will take to recover the initial investment of $120,000. We will do this by calculating the annual cash flows until the initial investment is fully recovered.
First, let's calculate the annual cash flows for each year:
Year 0:
-Initial investment: -$120,000
Year 1:
-Sales: $835,000
-Variable costs: $167,000 (20% of sales)
-Fixed costs: $204,000
-Depreciation: $216,250 ($865,000 / 4 years)
-EBT (Earnings before taxes): $247,750 ($835,000 - $167,000 - $204,000 - $216,250)
-Taxes: $56,972 (23% of $247,750)
-Net Income: $190,778 ($247,750 - $56,972)
-Annual Cash Flow: $311,028 ($190,778 + $120,000)
Year 2:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
Year 3:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
Year 4:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
The total cash inflow for the four years is $1,244,112 ($311,028 x 4 years). The payback period is the time it takes to recover the initial investment, which in this case is less than one year (around 0.39 years). Therefore, the payback period for this project is less than one year.
To calculate the NPV, we need to discount the annual cash flows to their present value using the required rate of return of 13%. The formula for NPV is:
NPV = -Initial Investment + (CF1 / (1+r)^1) + (CF2 / (1+r)^2) + ... + (CFn / (1+r)^n)
where CF is the annual cash flow, r is the required rate of return, and n is the number of years.
Substituting the values, we get:
NPV = -$120,000 + ($311,028 / 1.13^1) + ($311,028 / 1.13^2) + ($311,028 / 1.13^3) + ($311,028 / 1.13^4)
NPV = $84,659.21
Therefore, the NPV of the project is $84,659.21.
To calculate the IRR, we need to find the discount rate that makes the NPV equal to zero. We can do this using trial and error or by using the IRR function in Excel. Using Excel, we can calculate the IRR as 32.17%.
With an NPV of $304,883.82 and an IRR of around 19.47%, the Potato Pet project has a payback period of roughly 2.75 years. These findings imply that Pappy's Potato should take the project into consideration as it is anticipated to provide a profit.
What is the payback method and payback period?The payback method calculates the amount of time needed to "payback" or repay the initial expenditure. The time it takes for an investment to create enough cash revenues to cover its associated financial outflow(s), usually expressed in years, is known as the payback period.
To calculate the payback period, we need to determine how long it will take for the project to generate enough cash inflows to recover the initial investment of $985,000 ($120,000 + $865,000).
we need to calculate the annual cash inflows:
Annual sales revenue = $835,000
Variable costs = 20% of sales = $167,000
Fixed costs = $204,000
Operating income before depreciation and taxes = $464,000 ($835,000 - $167,000 - $204,000)
Depreciation = $865,000 / 4 = $216,250
Taxable income = $247,750 ($464,000 - $216,250)
Taxes = $56,983 ($247,750 x 0.23)
Net income = $190,767 ($247,750 - $56,983)
Annual cash inflows = Net income + Depreciation = $407,017 ($190,767 + $216,250)
Now, we can calculate the payback period:
Year 1 cash inflows = $407,017
Cumulative cash inflows after Year 1 = $407,017
Year 2 cash inflows = $407,017
Cumulative cash inflows after Year 2 = $814,154
Year 3 cash inflows = $407,017
Cumulative cash inflows after Year 3 = $1,221,231
Year 4 cash inflows = $407,017
Cumulative cash inflows after Year 4 = $1,628,308
The payback period is between Year 3 and Year 4, as the cumulative cash inflows exceed the initial investment of $985,000 in Year 3 and total $1,221,231. The payback period is approximately 2.75 years (or 2 years and 9 months).
To calculate the NPV, we need to discount the annual cash inflows at the required rate of return of 13%.
Year 1 PV factor = 1 / (1 + 0.13)^1 = 0.885
Year 2 PV factor = 1 / (1 + 0.13)^2 = 0.783
Year 3 PV factor = 1 / (1 + 0.13)^3 = 0.693
Year 4 PV factor = 1 / (1 + 0.13)^4 = 0.613
NPV = ($407,017 x 0.885) + ($407,017 x 0.783) + ($407,017 x 0.693) + ($407,017 x 0.613) - $985,000
NPV = $304,883.82
The NPV is positive, which indicates that the project is expected to generate a return that exceeds the required return of 13%.
To calculate the IRR, we need to find the discount rate that results in an NPV of zero. We can use a financial calculator or Excel to do this. The IRR for this project is approximately 19.47%.
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what is the purpose of the Statement of Understanding
Answer:
It ensures that when consumers sign the Medicare Advantage and/or Part D Enrollment Application, they are acknowledging their understanding that they are actually enrolling, in which plan they are enrolling, and standard disclosures.
Explanation:
If a firm is interested in altering their D/E ratio they can engage in a ______.
If a firm is interested in altering their D/E ratio they can engage in a reducing/increasing their debt level.
What is known as D/E ratio?In accounting, the Debt-to-equity ratio refers to an accounting tool that compares a company’s total liabilities with its shareholder equity and can be used to assess the extent of its reliance on debt.
The financial metric is used to evaluate a company’s financial leverage and is calculated by dividing a company’s total liabilities by its shareholder equity. It is important as its measure the degree to which a company is financing its operations with debt rather than its own resources.
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Characteristics of Business performance Analysis
Answer:
In a nutshell, performance analysis is observing workflows, projects, and other pertinent day-to-day activities in order to identify strengths and weaknesses. This big picture analysis helps give company directors more focus and clarity into how their teams work.
Testbank Multiple Choice Question 122 On January 1, 2012, Bramble Corp. purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $36000. Bramble has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $137500. As a result of this sale, Bramble should recognize a gain of
Answer: $28,300
Explanation:
The gain that Bramble will recognize will goes thus:
First and foremost, we have to calculate the accumulated depreciation on the equipment and this will be:
= (768,000 - 36,000)/10 x 9
= 658,800
After that, we would find the value of the net Bmbook value on Dec 31, 2020 and this will be:
= 768,000 - 658,800
= 109,200
The gain will then be:
= Sales value - Net book value
= 137,500 - 109,200
= 28,300
2020 quantity
cost
PRICE
2021 quantity
cost
PRICE
Brocoli Cauliflowe Carrots
100
200
50
75
1.5
80
120
1.5
75
2
75
225
3
300
500
50
0.1
500
100
0.2
100
325
475
CPI base year 2020
100
146.154
46%
Inflation rate
The inflation rate can be calculated using the Consumer Price Index (CPI) formula, which measures the change in the price of goods and services over time. In this case, the base year is 2020, and we want to calculate the inflation rate for 2021.
First, we need to calculate the CPI for 2020 and 2021:
CPI 2020 = (1001.5) + (2002) + (503) = 500
CPI 2021 = (751.5) + (1201.5) + (2253) = 975
Next, we can use the formula to calculate the inflation rate:
Inflation rate = ((CPI 2021 - CPI 2020) / CPI 2020) x 100%
Inflation rate = ((975 - 500) / 500) x 100%
Inflation rate = 95%
Therefore, the inflation rate between 2020 and 2021 is 95%.
Please post about a time when your attitude made a positive difference.
Developing a positive mindset at work can help you achieve success. It has happened for me several times in my career.
One of the instances I'd like to tell is when I was vying for the position of manager in my workplace as an employee.
In a telecom company, I managed the sales department. I had been working there for 7 years with no success; three of the employees put in less time than I did yet managed to get the top position. I was demotivated by the thought that perhaps there is something I am not doing correctly when I repeatedly lost the post to them. Even though my sales figures were strong, luck evaded me in some way.
Since there had been no advancement, it had been ten years. Nonetheless, I never wavered from my commitment to keep trying. I consistently adhered to the fundamentals and worked to become a better seller. My sales started to rise considerably.
Ultimately, the figures were significant enough to turn the proper heads. Finally, I received a promotion, but guess what? It was to the position of Area Retail Head, which is much more important than Manager. While it took ten years, I am still happy with my accomplishments. It's still as delicious as it was before.
Therefore, being positive in all those years, not looking back or getting discouraged paid dividends and made a huge difference in my life.
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Suppose that there is a tax of $1 per unit, and the elasticity of supply is 3 and the elasticity of demand is 2 (in absolute value). How much of the $1 tax is paid by sellers?
Answer:
The amount of the $1 tax that is paid by sellers is $0.40.
Explanation:
The amount of tax paid by the sellers can be calculated using the following 2 steps:
Step 1: Calculation of the tax burden of the seller
This can be calculated using the following formula:
Tax burden of the seller = Elasticity of demand / (Elasticity of demand + Elasticity of supply) ............... (1)
Where;
Tax burden of the seller = ?
Elasticity of demand = 2
Elasticity of supply = 3
Substituting the values into equation (1), we have:
Tax burden of the seller = 2 / (2 + 3) = 2 / 5 = 0.40, or 40%
Step 2: Calculation of the amount of the $1 tax that is paid by sellers
This can be calculated using the following formula:
Tax paid by the sellers = Tax amount * Tax burden of the seller .................. (2)
Where;
Tax amount = $1
Tax burden of the seller = 40%
Substituting the values into equation (2), we have:
Tax paid by the sellers = $1 * 40% = $0.40
Therefore, the amount of the $1 tax that is paid by sellers is $0.40.
Additional note:
The answer above clearly demonstrates what obtains in economics that when supply is more elastic than demand, sellers will bear less of the tax burden, and when demand is more elastic than supply, sellers will bear more of the tax burden.
From the question, the fact that the elasticity of supply is 3 and the elasticity of demand is 2 (in absolute value) indicates that supply is more elastic than demand. This makes the sellers to bear only 40% of the tax burden while the buyers bear the remaining 60%.
Click to review the online content. Then answer the question(s) below, using complete sentences. Scroll down to view additional
questions.
Online Content: Site 1
What is the main difference in the way that "earned income" and "capital gains (or portfolio income)" are acquired?
The main difference in the way that "earned income" and "capital gains (or portfolio income)" are acquired is:
Earned income is money gained though occupation.Capital additions are medium of exchange gained though investment(s).Salary, bonuses, commissions, and tips that you receive from an employer or the company are examples of earned money.
Capital gains are funds received as a result of the sale of an investment such as stocks or real estate. Earned income is often taxed more heavily than gains from investments, which are taxed less heavily.
As a result, the significance of the main difference in the way that "earned income" and "capital gains (or portfolio income)" are acquired are the aforementioned.
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difine the benefit of work schedule
Explanation:
25 25uedniaaaaaaaaaaaaaaaaaaaaaa
A batch of 100 parts contains 6 defects. If two parts are drawn randomly one at a time without replacement, what is the probability that both parts are defective?
The present value of the tax cost associated with the current sale of inventory for 50,000 and subsequent of Owl stock for 70,000
According to the question the present value of the tax cost would be $162,500.
What is tax cost?Tax cost is the amount of money paid to the government in the form of taxes. It is the amount of money that individuals, businesses, and other organizations must pay to the government based on their income, profits, or other activities. Tax costs can include income taxes, property taxes, sales taxes, payroll taxes, and other forms of taxes. Depending on the country or jurisdiction, different types of taxes may be included in the tax cost calculation.
The present value of the tax cost associated with the current sale of inventory for $50,000 and subsequent sale of Owl stock for $700,000 depends on the applicable tax rate in your jurisdiction.
Assuming a tax rate of 25%, the present value of the tax cost would be $162,500
($50,000 x 25% + $700,000 x 25%).
= $162,500.
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what is the change in total profit of cleaning the fifth driveway if the price Mr. Plow can charge is $10 per driveway
Answer:
Explanation:-1
Bonita Companyâs sales budget projects unit sales of part 198Z of 9,000 units in January, 10,600 units in February, and 11,900 units in March. Each unit of part 198Z requires 4 pounds of materials, which cost $2 per pound. Bonita Company desires its ending raw materials inventory to equal 40% of the next monthâs production requirements, and its ending finished goods inventory to equal 20% of the next monthâs expected unit sales. These goals were met at December 31, 2021.
(a)
Prepare a production budget for January and February 2022.
BONITA COMPANY
Production Budget
choose the accounting period For the Month Ending January 31, 2022For the Two Months Ending February 28, 2022For the Quarter Ending February 28, 2022
January
February
select an opening production budget item Cost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryDesired Ending Finished Goods InventoryBeginning Direct MaterialsDirect Materials PurchasesDirect Material Pounds Per UnitTotal Required UnitsTotal Pounds Needed for ProductionRequired Production UnitsTotal Materials RequiredTotal Cost of Direct Materials PurchasesExpected Unit SalesUnits To Be Produced
enter a number of units
enter a number of units
select between addition and deduction AddLess: select an item Total Required UnitsDesired Ending Finished Goods InventoryCost Per PoundTotal Cost of Direct Materials PurchasesDesired Pounds in Ending Materials InventoryBeginning Direct MaterialsTotal Pounds Needed for ProductionRequired Production UnitsDirect Materials PurchasesDirect Material Pounds Per UnitUnits To Be ProducedBeginning Finished Goods InventoryExpected Unit SalesTotal Materials Required
enter a number of units enter a number of units
select a summarizing line for the first part Total Cost of Direct Materials PurchasesRequired Production UnitsDesired Pounds in Ending Materials InventoryTotal Required UnitsTotal Materials RequiredTotal Pounds Needed for ProductionDirect Material Pounds Per UnitDirect Materials PurchasesDesired Ending Finished Goods InventoryUnits To Be ProducedBeginning Direct MaterialsExpected Unit SalesCost Per PoundBeginning Finished Goods Inventory
enter a total number of units for the first part
enter a total number of units for the first part
select between addition and deduction AddLess: select a production budget item Direct Material Pounds Per UnitDirect Materials PurchasesTotal Pounds Needed for ProductionBeginning Direct MaterialsCost Per PoundDesired Ending Finished Goods InventoryRequired Production UnitsTotal Materials RequiredUnits To Be ProducedTotal Required UnitsTotal Cost of Direct Materials PurchasesBeginning Finished Goods InventoryDesired Pounds in Ending Materials InventoryExpected Unit Sales
enter a number of units enter a number of units
select a closing production budget item Desired Ending Finished Goods InventoryTotal Pounds Needed for ProductionExpected Unit SalesTotal Materials RequiredBeginning Direct MaterialsTotal Required UnitsDirect Material Pounds Per UnitCost Per PoundDesired Pounds in Ending Materials InventoryBeginning Finished Goods InventoryTotal Cost of Direct Materials PurchasesUnits To Be ProducedDirect Materials PurchasesRequired Production Units
enter a total number of units enter a total number of units
The sales budget for Bonita Company forecasts 9,000 unit sales of component 198Z in January, 10,600 units in February. Required Production Units The date is January 9, 320. February 10,860.
A sales budget is a financial plan that forecasts a company's total revenue for a given time period. It forecasts the company's performance based on two factors: the quantity of items sold and the price at which they are sold. The company's management predicted sales of $ 5,000 in quarter one, $ 6,000 in quarter two, $ 7,000 in quarter three, and $ 8,000 in quarter four, with the selling price of $ 6 for the first two quarters and $ 7 for quarter three and quarter four. The sales budget is a planning technique that enables businesses to manage resources and earnings in accordance with predicted sales.
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At the end of a reporting period, a company determines that its ending inventory has a cost of $300,000 and a net realizable value of $230,000. What would be the effect(s) of the adjustment to write down inventory to net realizable value?
Answer:
1.Cost of Goods Sold Increase by $70,000
2.Gross Profit and Net Profit decrease by $70,000
3.Inventory in balance sheet decrease by $70,000
Explanation:
IAS 2 requires inventory to be measured at the lower of cost or net realizable value.
In our case the inventory will be valued at net realizable value of $230,000 because this is lower.
The effect with this is :
1.Cost of Goods Sold Increase by $70,000
2.Gross Profit and Net Profit decrease by $70,000
3.Inventory in balance sheet decrease by $70,000
Outline and describe the main types of Communication in your own words. Give one practical example for each type to support your discussion.
Answer:
There are four main types of communication: verbal, nonverbal, written, and visual.
1. Verbal communication involves the use of words to convey a message. This can be done through spoken or written language. Verbal communication can be formal or informal, and it is often used in face-to-face conversations, meetings, presentations, and interviews. A practical example of verbal communication is a teacher giving a lecture to a classroom full of students.
2. Nonverbal communication involves the use of body language, facial expressions, and other nonverbal cues to convey a message. This can include gestures, eye contact, posture, and tone of voice. Nonverbal communication is often used in conjunction with verbal communication to reinforce a message or convey meaning. A practical example of nonverbal communication is a job interview, where the interviewer may use body language to convey their interest or disinterest in a candidate.
3. Written communication involves the use of written words to convey a message. This can include emails, memos, reports, and letters. Written communication is often used in business and academic settings, where a permanent record of the communication is required. A practical example of written communication is a business proposal that is sent to a potential client.
4. Visual communication involves the use of images, graphics, and other visual aids to convey a message. This can include charts, diagrams, videos, and photographs. Visual communication is often used in advertising, marketing, and design, where visual impact is important. A practical example of visual communication is a billboard that advertises a new product.
In summary, each type of communication has its own strengths and weaknesses, and they are all important in different contexts. Effective communication requires a combination of these four types, depending on the situation and the message that needs to be conveyed.
Jack indicates high self-efficacy when he says, "I am the greatest." "I know that I will make a superior PowerPoint presentation." "I can handle anything." "I do poorly on technical tasks."
Answer: "I know that I will make a superior PowerPoint presentation."
Explanation:
Self-efficacy is the belief in one's ability to be able to accomplish a specific task that can help them to deal with a certain situation.
By stating that he knows he will make a superior PowerPoint presentation, Jack is showing high self-efficacy because the task is quite specific unlike saying he can handle anything and that he is the greatest which are quite general.
The Reverend Petros receives an annual salary of 51,000 as full-time minister this includes 5000 designated as a rental allowance River and Pedro is not exempt from employment tax how much must he include figuring that income for self-employed tax
If the Reverend Petros receives an annual salary of 51,000 as full-time minister that includes 5000 designated as a rental allowance. The amount that must be include figuring that income for self-employed tax is : $51,000.
What is annual salary?Annual salary can be defined as the amount a person earn as salary per year.
On the other hand self employed tax can be defined as the tax a person that is solely working for his/her self without working for any other person remit to the government.
Therefore the amount that must be include figuring that income for self-employed tax is the amount of $51,000.
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