Kropf Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours.
Inputs Standard Quantity or Hours Standard Price or Rate
per Unit of Output
Direct materials
7.60 liters $ 7.20 per liter
Direct labor 0.60 hours 23.70 per hour
Variable manufacturing overhead 0.60 hours $ 6.10 per hour
The company has reported the following actual results for the product for September:
Actual output 9,800 units
Raw materials purchased 75,200 liters
Actual cost of raw materials purchased $ 564,500
Raw materials used in production 74,500 liters
Actual direct labor-hours 5,500 hours
Actual direct labor cost $ 135,302
Actual variable overhead cost $ 29,314
Required:
a. Compute the materials price variance for September.
b. Compute the materials quantity variance for September.
c. Compute the labor rate variance for September.
d. Compute the labor efficiency variance for September.
e. Compute the variable overhead rate variance for September.
f. Compute the variable overhead efficiency variance for September.

Answer:

1. a. A bond issued by a government that is engaged in a civil war.

2. 1. The Standard & Poor's 500 is an example of a stock index.

Explanation:

A key part of the interest rate on a bond is the risk attached to the issuer of the bond. A government engaged in civil war is definitely riskier than the stable government of Japan because there is a chance that they might not even pay if they are defeated and a new government comes in. Such a government will therefore issue at a higher rate to cater for this risk.

The Standard and Poor's 500 is indeed an example of a stock index and it is used to gauge the performance of 500 large companies on various exchanges in the U.S. A corporation can either increase, decrease or maintain stock price by issuing stock so option 2 is wrong. Option 3 is wrong as well because trading stock on an organized exchange does not bring in any revenue for the issuing firm.

One of the reasons that could be causing this balance is that the client has added transactions in the Banking Center without assigning an account to them.

This refers to the financial activity of keeping financial records of a company for accounting purposes.

The second reason can be that the client entered an Opening Balance when creating a new Other Current Asset account

Opening balances were included when importing Customers, using the Import Data tool

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Answer:

both numbers one and two

Answer:

D. Interdependence​

Explanation:

Interdependence is a condition of mutual dependence among people or things. It is a situation where two or more individuals, companies, or countries rely on one another in various aspects. A state where multiple parties depend on each other to thrive.

When different functions or departments depend on each other to succeed, they are said to be interdependent. It implies that a function is likely to fail if it opts to operate on its own.

The net cost of the item, after applying the series trade discount, is $63.41.

To calculate the net cost of the item, we need to apply the series trade discount provided. The series trade discount is given as 10/10/19, which means there are three successive discounts applied.

Let's break down the discounts:

To find the net cost, we need to calculate the price after each discount.

Step 1: Apply the first discount of 10%

List price - (10% of list price)

List price - (10/100 * List price)

List price - 0.1 *

List price = 0.9 * List price

Step 2: Apply the second discount of 10%

0.9 * List price - (10% of 0.9 * List price)

0.9 * List price - (10/100 * 0.9 * List price)

0.9 * List price - 0.09 * List price

0.81 * List price

Step 3: Apply the third discount of 19%

0.81 * List price - (19% of 0.81 * List price)  

0.81 * List price - (19/100 * 0.81 * List price)

0.81 * List price - 0.1539 * List price

0.6561 * List price

Now, to find the net cost, we multiply the list price by the result of the series of discounts:

Net cost = List price * 0.6561

Given that the list price is $96.60, we can calculate the net cost:

Net cost = $96.60 * 0.6561

Calculating this, we find:

Net cost = $63.41 (rounded to the nearest cent)

Therefore, the net cost of the item, after applying the series trade discount, is $63.41.

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Answer:

The current answer is Liquidity Ratio

Explanation:

Other examples of Liquidity ratios are cash ratio and working capital ratio.

Current Ratio = Current Assets/Current Liabilities

Cash Ratio = Cash + Cash equivalens/Current Liabilities

Working Capital Ratio = Sales (or Revenue)/ Working Capital

All the above ratios help the financial analyst or the entrepreneur gauge the financial health of a business concerning its ability to pay up short-term debts obligations.

Cheers!

Short-term debts or current liabilities are the liabilities that are termed as the firm's obligations that are to be paid off within the financial year in order to avoid the debt burden on the legal entity as well as the owner of the company.

The correct  answer is Liquidity Ratio

Other examples of Liquidity ratios are the cash ratio and working capital ratio.

Current Ratio = \(\begin{aligned}\frac{\text{Current Assets}}{\text{Current Liabilities}}\end{aligned}\)

Cash Ratio = Cash + \(\begin{aligned}\frac{\text{Cash Equivalent}}{\text{Current Liabilities}}\end{aligned}\)

Working Capital Ratio = \(\begin{aligned}\frac{\text{Sales (revenue)}}{\text{Working Capital}}\end{aligned}\)

The above ratios help the financial analyst or the entrepreneur gauge the financial health of a business concerning its ability to pay up short-term debts obligations.

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Answer:

If the first rule is observed, the database is said to be in "first normal form." If the first three rules are observed, the database is considered to be in "third normal form." Although other levels of normalization are possible, third normal form is considered the highest level.

If the corporate plan contains exaggerated financial data and is intentionally confusing, an investor should analyze it before investing.

All of the liabilities and assets of an economy's many sectors are included in a complete set of stock or flow data called financial statistics.

If that's so, you're not the only one. The 2021 Modern Prosperity Survey by Schwab found that only 33% of Americans had a written financial plan.

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Answer:

Explanation:

Efficient Transport. Your firm may be losing money and resources by sticking with an outdated shipping model.

Increased Customer Satisfaction.

Opportunity For Innovation.

Information On Technology Updates.

Industry-Specific Expertise.

Answer:

The broker normally doesn't loan you the money.

The mortgage broker doesn't sell you the property.

The mortgage broker simply brings the home buyer and the lender together.

SRC: Quizlet

Explanation:

Credit card bill from ABC credit have listed a number of expenses made, these needs to be posted according to the relevant accounting heads.

Accounting is the calculation of cash, in other terms it is the study of debit and credit. The accounting teaches the treatment of different transactions, the transactions are divided in different heads, asset, expense, income, liability and capital.

T Accounts should be made as follows.

Assets

DR $1500 Computers

DR $650 Furniture

DR $334 Van Payment

Expenses

DR $420 Office Supplies

DR $250 Electric Company

DR $100 Water

DR $250 Office Supplies

Petty Expenses

DR $150 Steak House

DR $100 Fuel Stop

The expenses are distributed among the heads that they are relevant to, petty expenses only contains the payment for expenses that are immaterial in nature and amount, Asset account have the payments made for assets.

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The administrative position of human resources entails multiple tasks, including payroll, hiring, recruiting, preserving the work environment, and others.

Human resources professionals hire, interview, and screen job prospects as well as designate positions for newly hired personnel. They could also be in charge of pay and benefits, employee relations, and training. Professionals in labor relations supervise and assess employment contracts.

Processing payroll, writing job descriptions, establishing workplace norms, and purchasing benefits are all common HR administration tasks.

Thus, the administrative position is in human resources.

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Answer:

-a salaried job

-a part-time job

-a job with benefits

-an advanced job

Explanation:

salaried job

part-time job

job with benefits

an advanced job

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Answer:

$266.42

Explanation:

$318.59-$52.17=$266.42

The economic system that allows for private ownership of property and resources is the Free Market system.

What is difference between free market system and traditional system ?

"Free market", "traditional", and "restrictive" are three different terms that describe different economic systems or policies.

A free market system is an economic system in which the prices of goods and services are determined by supply and demand without significant government intervention. In a free market, individuals and businesses have the freedom to own and control property, resources, and means of production, and are free to produce, sell, and consume goods and services as they see fit.

A traditional economic system is an economic system that relies on customs, traditions, and beliefs to allocate resources and determine economic activity. In a traditional economy, production and distribution of goods and services is based on inherited customs and traditions, with little room for innovation or change.

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Answer: C. $ 2,750 net increase in operating income

Explanation:

Income if Blackberry syrup is sold as is;

= Sales price * No. of units

= 2.90 * 1,900

= $5,510

Income if Blackberry Syrup is processed further;

= (Sales price * No. of units) - Processing costs

= ( 5.4 * 1,900) - 2,000

= 10,260 - 2,000

= $8,260

Difference;

= 8,260 - 5,510

= $2,750

The financial crisis in 2008 could've been avoided in some ways by Regulating the housing market, Proper regulation banks and financial institutions, Introduction of better accounting standards, Encouraging greater transparency, and Regulating credit rating agencies.

The global financial crisis of 2008 was a significant economic event that had a far-reaching impact on the worldwide economy. The crisis resulted in the collapse of numerous leading financial institutions, which led to unprecedented losses in the stock market, a decline in economic growth, and high levels of unemployment. It is commonly believed that the crisis could have been avoided if appropriate measures had been taken at the right time.

Here are some ways the financial crisis in 2008 could have been avoided:

1. Regulating the housing market: The financial crisis of 2008 originated from the housing market collapse. Banks and financial institutions had given loans to people who could not afford them, and when the housing bubble burst, a massive number of mortgages went into default. If the government had regulated the housing market more effectively, the financial institutions would not have been able to give out loans to risky borrowers, and the housing market would not have collapsed.

2. Proper regulation of banks and financial institutions: If banks and financial institutions were regulated more effectively, they would not have been able to engage in risky financial practices that led to the crisis. Regulators would have spotted the risky activities early on and would have been able to take corrective action before it was too late.

3. Introduction of better accounting standards: During the financial crisis of 2008, banks and financial institutions engaged in creative accounting practices to hide their losses. This deception made it difficult to ascertain the real situation of the banks and financial institutions, leading to a lack of confidence in the market. If better accounting standards had been introduced, this could have been avoided.

4. Encouraging greater transparency: The financial crisis of 2008 was partly caused by a lack of transparency in the market. If regulators had encouraged greater transparency, there would have been more information available to investors, which could have led to greater confidence in the market.

5. Regulating credit rating agencies: Credit rating agencies played a significant role in the financial crisis of 2008. They gave high ratings to toxic financial products, which misled investors and led to the collapse of the market. If credit rating agencies were regulated more effectively, they would not have been able to give high ratings to risky products, and the market would have been more stable.

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Answer: No, a depression is indicated when the recession is exceptionally long.

Explanation:

Answer and Explanation:

The computation and the preparation is presented below:

1.

Particulars  Dept. M    Dept. N    Dept. O     Dept. P      Dept. T     Total

Sales           $66,000                    $59,000     $45,000                    $170,000

Expenses

Avoidable    $11,300                     $23,300       $15,500                     $50,100

Unavoidable  $53,000   $14,400  $4,500       $31,200    $11,900    $115,000

Total expense $64,300   $14,400   $27,800    $46,700   $11,900   $165,100

Net income

or loss             $1,700          -$14,400   $31,200  -$1,700  -$11,900  $4,900

2.

Particulars  Dept. M    Dept. N    Dept. O     Dept. P      Dept. T     Total

Sales           $66,000                    $59,000                                     $125000

Expenses

Avoidable    $11,300                     $23,300                                     $34,600

Unavoidable  $53,000   $14,400  $4,500       $31,200    $11,900    $115,000

Total expense $64,300   $14,400   $27,800    $31,200   $11,900   $149,600

Net income

or loss             $1,700          -$14,400   $31,200  -$31,200 -$11,900  -$24,600

Following are the emerging issues in organization design and architecture:Technology and Globalization, Customer Relations,Technical Knowledge, Flexibility, Employee's Well-being.

Following are the emerging issues in organization design and architecture:

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Gas, water, and electricity are examples of UTILITIES

Answer:

Utilities since they are essential services

Explanation:

Answer: C.

Explanation: When you pay any bill, you don't borrow money, you give your own money to the company or whoever you are giving the money to.

Answer: the value of its underlying investments may fall overall.

Explanation:

On the plus side, international collaboration may pool the resources and knowledge of several nations, promoting increased productivity, lower prices, and improved innovation. Access to cutting-edge scientific research, a pooling of resources, and financial support from several nations can all be advantageous for NASA.

NASA science is concentrated on better understanding Earth through the Earth Observing System,[8] advancing heliophysics through the Science Mission Directorate's Heliophysics Research Program,

exploring bodies throughout the Solar System with knowledge cutting-edge robotic spacecraft like New Horizons and planetary rovers like Perseverance,

and researching astrophysics topics, such as the Big Bang, through the James Webb Space Telescope and the Great Observatories.

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Under the 7-to-1 rule, the maximum salary that would be paid to the highest-paid manager is $105,000.

Data and Calculations:

Lowest-paid employee's annual earnings =$15,000

Maximum-Minimum Salary Rule = 7-to-1

The maximum salary paid to the highest-paid manager = $105,000 ($15,000 x 7).

Thus, the maximum salary paid to the highest-paid manager under the company's 7-to-1 rule is $105,000.

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Factors of production are the parts of the economy that Option C. are necessary for creating goods and services.

Factors of production are the essential elements that contribute to the creation of goods and services within an economy. Factors of production are necessary for creating goods and services.

These factors include land, labor, capital, and entrepreneurship. Land refers to the natural resources used in production, such as water, minerals, and fertile soil. Labor involves the human effort and skills applied to produce goods and services. Capital includes the tools, machinery, and infrastructure required for production, while entrepreneurship involves the innovation, risk-taking, and management skills necessary to organize and operate a business.

Together, these factors of production work in harmony to transform raw materials into goods and services that can be consumed by individuals, businesses, and governments. The efficiency and effectiveness of these factors determine the overall productivity of an economy, as well as its ability to grow and generate wealth.

In summary, factors of production are essential components of an economy that enable the creation of goods and services. By utilizing land, labor, capital, and entrepreneurship, societies can generate valuable products and services that contribute to economic growth and improved standards of living. Therefore, the correct option is C.

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