Answer:
a. Interest revenue = $2,700
b. Weighted-average accumulated expenditures = $54,000
c. Avoidable interest = $6,480
d. Total interest cost to be capitalized = $6,480
Explanation:
The computation of interest revenue, weighted-average accumulated expenditures, avoidable interest, and total interest cost to be capitalized is shown below:-
a. Interest revenue = (Issued notes payable - Interest payable) × Short-term marketable securities × From 1 Aug to 31 Oct ÷ Total number of months in a year
= ($324,000 - $216,000) × 10% × 3 months ÷ 12
= $108,000 × 10% × 3 months ÷ 12
= $2,700
b. Weighted-average accumulated expenditures = Interest payable × Short-term marketable securities × From 1 Aug to 31 Oct ÷ Total number of months in a year
= $216,000 × 3 months ÷ 12
= $54,000
Here we will not consider 1 Nov because it contains 0 months so answer is $54,000
c. Avoidable interest = Weighted-average accumulated expenditures × Notes payable percentage
= $54,000 × 12%
= $6,480
d. Total interest cost to be capitalized = Weighted-average accumulated expenditures × Notes payable percentage
= $54,000 × 12%
= $6,480
We simply applied the above formulas
Which of the following should be considered last when searching for financing? Question 1 options: Family members Banks Commercial finance companies Credit cards
Answer:
Credit cards
Explanation:
A credit card can be defined as a small rectangular-shaped plastic card issued by a financial institution to its customers, which typically allows them to purchase goods and services on credit based on the agreement that the amount would be paid later with an agreed upon interest rate.
Credit cards should be considered last when searching for financing.
The main sources of finance are; Family members, Banks Commercial and finance companies.
Mary, a college student, needs to borrow $8,000 today for her tuition. She agrees to pay back the loan in a lump-sum payment upon graduating, 4 years from today. The lender agrees to lending at a fixed 3.85% interest rate during the loan period. What is the total cost of Mary's student loan?
Answer:
$ 9,304.99
Explanation:
The applicable formula is
A = P x (1 + r)^n
where A is the amount after 4 years
P is principal amount $8000
r is interest rate = 3.85% or 0.0385
n = number of periods: 4
A = $8000 x ( 1 + 0.0385) ^4
A = $8000 x (1.0385)^4
A = $8000 x 1.163123
A =$9,304.99
WHO IS THE BEST ENTREPRENEUR OF ALL TIMES?
John D. Rockefeller was the best entrepreneur of all time, According to most metrics, the richest person in history. Through horizontal and vertical integrations that turned Standard Oil into a monopoly,
What is Business?An innovative company or group that engages in professional activities is referred to as a business. They could be industrial, commercial, or something else. Businesses that are for-profit operate to make a profit, whereas those that are nonprofit do so to further a philanthropic cause.
He gained his wealth by squeezing out efficiencies. The cost of petrol, however, has significantly decreased for the average customer. In 1911, the government permanently dismantled Standard Oil.
Therefore, First Entrepreneur does a remarkable job of carefully examining and showcasing Washington's significant entrepreneurial culture.
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Discuss why positive thinking is critical in starting the entrepreneurship journey
Haas Company manufactures and sells one product. The following information
pertains to each of the company's first three years of operations:
Variable costs per unit:
Manufacturing:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Fixed costs per year:
Fixed manufacturing overhead
Fixed selling and administrative expenses
A A A A
20
12
4
2
$
Book
$ 960,000
$ 240,000
int
During its first year of operations, Haas produced 60,000 units and sold 60,000 units.
During its second year of operations, it produced 75,000 units and sold 50,000 units.
In its third year, Haas produced 40,000 units and sold 65,000 units. The selling price
of the company's product is $58 per unit.
int
ences
Required:
1. Compute the company's break-even point in unit sales.
2. Assume the company uses variable costing:
a. Compute the unit product cost for year 1, year 2, and year 3.
b. Prepare an income statement for year 1, year 2, and year 3.
3. Assume the company uses absorption costing:
a. Compute the unit product cost for year 1, year 2, and year 3.
b. Prepare an income statement for year 1, year 2, and year 3.
While the sales revenue of $960,000 is a crucial piece of information, it is only one component in assessing the financial performance of Haas Company.
Based on the provided information, it can be inferred that Haas Company manufactures and sells only one type of product. The total amount of sales revenue for this product is $960,000. However, this information alone is not sufficient to determine the profitability or financial health of the company.
In order to assess the financial performance of Haas Company, additional information such as the cost of goods sold, operating expenses, and net income is needed.
The cost of goods sold refers to the direct costs associated with the production and sale of the product. This includes materials, labor, and overhead expenses. By subtracting the cost of goods sold from the total sales revenue, the gross profit can be determined. The gross profit indicates the profitability of the product, before taking into account any operating expenses.
Operating expenses are the indirect costs associated with running the business, such as rent, utilities, salaries, and advertising. After subtracting the operating expenses from the gross profit, the net income can be determined. The net income represents the overall profitability of the company after all expenses have been accounted for.
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I generally bounce back from tough conversations well, but occasionally find it difficult to be resilient. Agree or disagree
People can be tough sometimes. I generally bounce back from tough conversations well, but occasionally find it difficult to be resilient. I disagree.
What is Emotional resilience?This is known as the ability of a person to recover quickly from any kind of bad news or traumas as a result of illness or misfortune.
If a person can bounce back from tough conversations, it means they are strong and despite any point or issue thrown at them, they can withstand and be tough in that situation.
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Company Dept. A Dept B. Predetermined overhead rate per direct labor hour $2.10 $2.40 $1.80 Direct labor hours hours worked on Job ABC 30 17 13 Based on this information, the overhead applied to Job ABC using multiple predetermined overhead rates is ______.
Answer:
Total applied overhead= $64.2
Explanation:
Giving the following information:
Dept. A Dept B.
Predetermined overhead rate per direct labor hour $2.40 $1.80
Job ABC:
Direct labor hours Dept A= 17
Direct labor hours Dept B= 13
We need to use the departmental predetermined overhead rates.
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Dept A= 2.4*17= $40.8
Dept B= 1.8*13= $23.4
Total applied overhead= $64.2
Joey has opened a restaurant. He paid a large amount of money up front to get the business started. He only sells products that are licensed by someone else. What type of business opportunity is Joey a part of?
Question 9 options:
1: Franchise
2: Dealership
3: Licensing
4: Network marketing
Answer:
Franchise
Explanation:
The answer is FRANCHISE
s
d. The amount a person would have to deposit today to be able to take out $500 a year for 5 years from an
account earning 8 percent. (Round your factor to 3 decimal places and final answer to 2 decimal places.)
The amount which would allow a person to take out $500 per year for 5 years from an account at 8 % would be $ 1, 996.36
How to find the amount ?The amount that would allow a person to be able to access $ 500 every year for 5 years in an account earning 8 % would be the present value of that amount of $ 500 for five years.
This $ 500 is an annuity so the present value would be the present value of an annuity.
The present value would be :
= Amount deposited x Present value interest factor of annuity, 8%, 5 years
= 500 x 3.9927100370781
= $ 1, 996.36
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Mr.and Mrs.Hawell want to file thier income tax return together. Which filling status should they use?
Answer:
married
Explanation:
dont really have one
Answer:
I took that test, the examples to choose from are:
1.)Head of House Hold
2.) Married Filing Jointly
3.) Married Filing Separately
And I know that Answer is:
2.) Married Filing Jointly
Explanation:
Married filing jointly alludes to a filing status for married couples that have marry before the finish of the assessment year. When documenting under wedded documenting mutually status, couples can record their individual earnings, exceptions and derivations on a similar assessment form. Married filing jointly is ideal if just a single life partner has a critical salary.
Who here watches black butler (the anime show) also what is 500 x 44 +56 - 4 -9 x 566
Answer: 16,958
(I don’t watch anime)
Explanation:
Identifying the Purpose of the Goal Seek Feature For which task is the Goal Seek feature most helpful? O selecting random values for the result of a formula O identifying calculations that are missing from a function O adjusting a formula to export its result to a separate worksheet O working backward to identify the input values for a specific result
Answer: O working backward to identify the input values for a specific result
Explanation: I got it right
Answer:
D
Explanation:
Assume Larry, Moe, and Curly each own 33.33 % of a general partnership. The partnership shows $126,000 in net income for the 2018 year. Which of the following statements is true
Larry, Moe, and Curly will report 1/3 of what remains of net income after the tax on their partnership is levied
Larry, Moe, and Curly will each report $42,000 of taxable income on their personal tax returns
The partnership will be taxed for any applicable income taxes on these earnings.
Larry, Moe, and Curly will each report partnership earnings of $126,000 on their personal tax returns
Larry, Moe, and Curly will report 1/3 of what remains of net income after the tax on their partnership is levied is true. A general partnership is a type of partnership.
Which all of the partners are personally liable for the partnership's activities. Active owners, known as general partnership, have unlimited liability for all business debts in a general partnership. For example, suppose Fred and Melissa decide to open a bakery. F&M Bakery is the name of the net income . Fred and Melissa are both general partners in the business, F&M Bakery, because they opened a store together. The primary distinction between these partnerships is that general partners have complete operational control over a business and unlimited liability.
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discuss five engagement-specific controls to be instituted by an audit firm to ensure quality control
Answer:
The quality control policies and procedures applicable to a firm's accounting and auditing practice should encompass the following elements:
Independence, Integrity, and Objectivity.
Personnel Management.
Acceptance and Continuance of Clients and Engagements.
Engagement Performance.
Monitoring.
Given the diagram depicted to the right, which of the following statements is true? Environmental Quality B a. b. Energy The MRS from point A to point B must be lower (in absolute value) than the MRS from point B to point The level of satisfaction associated with point A is greater than the level of satisfaction associated with either points B or C. The MRS from point A to point B must be greater (in absolute value) than the MRS from point B to point C. This consumer prefers environmental quality over energy. c. d
The MRS from point A to point B must be greater (in absolute value) than the MRS from point B to point C.
There are several different mathematical contexts where the absolute value of real numbers can be generalized. A definition of an absolute value, for instance, is also provided for complex numbers, quaternions, ordered rings, fields, and vector spaces. In a variety of mathematical and physical situations, the notions of magnitude, distance, and norm are intimately related to the concept of absolute value. Without taking into account direction, absolute value describes how far a number is from zero on the number line. A number's absolute value can never be negative. Look at some illustrations. 5 is the sum of its absolute values. In mathematics, the phrase "absolute value" is used to describe how far a point or number is from the origin (also known as the zero point) of a number line or coordinate system. Both scalar and vector quantities are affected by this.
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how does a persons work experience affect their pay wage?
Answer:
Up to a certain point, more experience typically translates into higher income. Similar to the last example, if the job requires someone with 10 years of expertise in a specific field and you don't satisfy those qualifications, you can find yourself working at the lower end of the wage scale.
Explanation:
TRUE OR FALSE a decline in the net fixed assets account between year-end 2016 and year-end 2017 is a clear indication that fixed assets were sold during 2017.
"A decline in the net fixed assets account between year-end 2016 and year-end 2017 is a clear indication that fixed assets were sold during 2017." The given statement is false.
A decline in the net fixed assets account between year-end 2016 and year-end 2017 is not necessarily an indication that fixed assets were sold during 2017.
A long-term tangible asset or piece of equipment that a business owns and employs in its operations to make money is referred to as a fixed asset. These assets are sometimes shown on the balance sheet as property, plant, and equipment because it is not anticipated that they would be sold or used within a year (PP&E).
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Advise business on the role of intermediaries in the distribution process.
Here are some key advantages of intermediaries:
Market Reach
Efficiency and Expertise
Cost Savings
Market Information
Risk Management
Intermediaries play a crucial role in the distribution process of a business. They act as a link between producers and consumers, facilitating the movement of goods and services from the point of production to the point of consumption. Here are some key advantages of intermediaries:
Market Reach: Intermediaries, such as wholesalers, retailers, and distributors, have established networks and access to a wide customer base. They can help businesses reach a larger market and expand their customer reach.
Efficiency and Expertise: Intermediaries specialize in distribution activities, including logistics, warehousing, transportation, and marketing. They possess knowledge and expertise in these areas, allowing businesses to benefit from their efficiency and experience.
Cost Savings: By utilizing intermediaries, businesses can reduce their own costs associated with storage, transportation, and marketing. Intermediaries often benefit from economies of scale, allowing them to provide cost-effective solutions.
Market Information: Intermediaries are in direct contact with customers and have valuable insights into market trends, consumer preferences, and competitor activities. They can provide businesses with market intelligence that helps in strategic decision-making.
Risk Management: Intermediaries can help businesses mitigate risks associated with distribution, such as inventory management, payment collection, and product returns. They assume some of the risks and provide financial and logistical support.
However, businesses should carefully select and manage their intermediaries to ensure alignment with their objectives and maintain control over their brand and customer relationships. Regular evaluation and communication with intermediaries are essential to optimize the distribution process and achieve business goals.
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__________ are inputs used by organizations. Group of answer choices Raw materials Trademarks Incentives Contingencies Esprit de corps
Raw materials are inputs used by organizations
What are raw materials?They are some of the inputs used to produce an output or products in an organization.
They are products are required by company ] to generate a profit by selling.
Therefore, Raw materials are inputs used by organizations
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What is a firm's weighted-average cost of capital if the stock has a beta of 1.45, Treasury bills yield 5%, and the market portfolio offers an expected return of 14%? In addition to equity, the firm finances 30% of its assets with debt that has a yield to maturity of 9%. The firm is in the 35% marginal tax bracket.
A firm's weighted-average cost of capital if the stock has a beta of 1.45, is 12.705%.
The average rate of return a company anticipates paying to all of its investors debt and equity to fund its assets is known as the weighted-average cost of capital (WACC).
According to Capital Asset Pricing Model,
Cost of Equity =
Risk-Free Rate of Return + Beta × (Market Rate of Return –Risk-Free Rate of Return)
Risk-Free Rate of Return=5%= 0.05
Beta=1.45
Market Rate of Return=14%=0.14
therefore, cost of equity
\(= 0.05 + 1.45 * (0.14 - 0.05) \\= 0.05 + 0.1315 = 0.1815 =18.15%\)%
After-tax cost of debt =(risk-free rate of return + credit spread)*(1 - tax rate)
After-tax cost of debt\(= 0.09 * (1 - 0.35) = 0.0585 = 5.85%\)%
WACC = (proportion of equity * cost of equity) + (proportion of debt * after-tax cost of debt)
\(WACC = (E/V * Re) + ((D/V * Rd) * (1 - T))\)
\(WACC = (0.7 * 0.1815) + (0.3 * 0.0585) = 0.12705 =12.705%\)%
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How many guests may a temporary member bring to a private club?
three guests
Explanation:
A temporary member may enjoy the club's services and privileges for a period of not more than three days per invitation. A temporary member may bring not more than three guests to the club and must remain in their presence while they are at the club.
A temporary member of a private club can invite maximum upto 3 members.
What is a Private club?
A private club is a place where people of similar interest meet, spend time, hang out, do some activities. The word "Private" is used to indicate that not everyone can go to the club, only the persons who have joined the club can go there.
What the the criteria to be allowed?The manager or the in-charge may allow only after when he check that the visitor have the valid ID proof and valid temporary membership card. They shall also pay the fee, if any applicable by the pre-decided rules of the club members.
What are temporary members?Temporary members are those who have not joined the group completely instead they have have issued a temporary card and participate in some of the activities for the time being.
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QUESTION 19
Duplication of data and lack of communication in an organization are usually the result of:
O a. Process complexity
Ob. Product complexity
O c. Network complexity
O d. Customer complexity
Oe. Range complexity
Duplication of data and lack of communication in an organization are usually the result of network complexity. The Option C is correct.
What does the term Network complexity means?The number of nodes and alternative paths in a computer network, as well as the variety of communication media, communications equipment, protocols, and hardware and software platforms found in the network, all contribute to network complexity.
A simple network is a small LAN with no alternative paths, a single communication protocol, and identical hardware and software platforms across nodes.
A complex network is defined as an enterprise-wide network that uses multiple communication media and communication protocols to connect geographically dispersed networks with disparate hardware and software platforms.
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Precision Systems manufactures CD burners and currently sells 18,500 units annually to producers of laptop computers. Jay Wilson, president of the company, anticipates a 15 percent increase in the cost per unit of direct labor on January 1 of next year. He expects all other costs and expenses to remain unchanged. Wilson has asked you to assist him in developing the information he needs to formulate a reasonable product strategy for next year.
You are satisfied that volume is the primary factor affecting costs and expenses and have separated the semivariable costs into their fixed and variable segments. Beginning and ending inventories remain at a level of 1,000 units. Current plant capacity is 20,000 units. The following are the current-year data assembled for your analysis.
Sales price per unit $100
Variable costs per unit:
Direct materials $10
Direct labor $20
Manufacturing overhead and selling and administrative expenses 30 60
Contribution margin per unit (40%) $40
Fixed costs $390,000
Required:
a. What increase in the selling price is necessary to cover the 15 percent increase in direct labor cost and still maintain the current contribution margin ratio of 40 percent?
b. How many units must be sold to maintain the current operating income of $350,000 if the sales price remains at $100 and the 15 percent wage increase goes into effect?
c. Wilson believes that an additional $700,000 of machinery (to be depreciated at 20 percent annually) will increase present capacity (20,000 units) by 25 percent. If all units produced can be sold at the present price of $100 per unit and the wage increase goes into effect, how would the estimated operating income before capacity is increased compare with the estimated operating income after capacity is increased? Prepare schedules of estimated operating income at full capacity before and after the expansion.
a. An increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b.The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The required sales volume is 18,500 units.
c. The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units
a. To maintain the current contribution margin ratio of 40 percent, the selling price per unit needs to be increased by 20 percent [(15 percent wage increase) / (current contribution margin ratio)].
Therefore, an increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.
b. To maintain the current operating income of $350,000, the number of units that must be sold can be calculated using the contribution margin ratio.
The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The formula for calculating the required sales volume is:
(Number of units) = (Fixed costs + Desired operating income) / Contribution margin per unit
Plugging in the values, we have:
(Number of units) = ($390,000 + $350,000) / $40 = 18,500 units
c. Before the capacity expansion, the estimated operating income can be calculated using the current production and sales volume of 18,500 units.
The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units.
The schedules of estimated operating income at full capacity before and after the expansion can be prepared by multiplying the respective sales volumes with the contribution margin per unit and subtracting the fixed costs and the wage increase.
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assuming a conservative interest rate of 5.3 how much would you need to save each year to reach 105,000 in 14 years
To calculate how much you need to save each year to reach $105,000 in 14 years with a conservative interest rate of 5.3%, you can use the formula for compound interest. The formula for calculating compound interest is A = P(1+r/n)^(nt), where A is the final amount, P is the principal amount, r is the interest rate, n is the number of times the interest is compounded per year, and t is the time in years.
In this case, we know that the principal amount (P) is $0 (since we are starting from scratch), the interest rate (r) is 5.3%, the time (t) is 14 years, and we want to end up with $105,000 (A). We don't know the number of times the interest is compounded per year (n), so let's assume it's compounded annually.
Plugging in the values into the formula, we get:
A = P(1+r/n)^(nt)
$105,000 = $0(1+0.053/1)^(1*14)
Simplifying the formula, we get:
105,000 = 0(1.053)^14
105,000 = 0(2.094)
105,000 = 0
This is obviously incorrect. The reason for this is that we need to calculate how much we need to save each year, not the starting principal. To do this, we need to rearrange the formula:
A = P(1+r/n)^(nt)
P = A/(1+r/n)^(nt)
In this case, we want to find P, which is the amount we need to save each year. Plugging in the values, we get:
P = A/(1+r/n)^(nt)
P = 105,000/(1+0.053/1)^(1*14)
P = 105,000/1.946
P = $53,930.50 (rounded to the nearest cent)
Therefore, to reach $105,000 in 14 years with a conservative interest rate of 5.3%, you would need to save $53,930.50 each year. Keep in mind that this is assuming the interest rate remains constant and there are no additional fees or charges.
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In order to keep the government running smoothly and able to fund various programs, it must collect money. What is the MOST common way to do this?
host telethons to raise money
sell useful items for a profit
collect taxes from citizens
invest money in the stock market
Answer:collect taxes from citizens
Explanation:
Answer:
Collect taxes from citizens
Explanation:
Collecting taxes and fees is a fundamental way for countries to generate public revenues that make it possible to finance investments in human capital, infrastructure, and the provision of services for citizens and businesses.
what type of marketing concept did Vaseline use
Answer:
Segmentation, targeting, positioning in the Marketing strategy of Vaseline – Vaseline Petroleum Jelly targets the families particularly the ones that have children. Demographics for the brand include 18-60 years old Female preferably with children, Single females who are career driven and are always on the go.
Joy Lee works in the accounting department of Campton Manufacturing.
Today she will use the firm's ledger to summarize information that was
posted over the most recent time period. Her goal is to determine if the
accounts are balanced as required by the double-entry method of
bookkeeping. To be sure they are correct, Joy Lee will prepare a(n)
O trial balance.
account analysis.
balance sheet.
statement of cash flows.
To be sure they are correct, Joy Lee will prepare a(n) trial balance.
Why will the trial balance be made?Joy Lee will prepare a(n) trial balance to determine if the accounts are balanced as required by the double-entry method of bookkeeping. A trial balance is a statement that lists all the accounts in the ledger and their balances, to ensure that the total debit balance equals the total credit balance.
It is used to verify the accuracy of the accounting records and to identify any errors that may have occurred during the posting process. An account analysis is a detailed review of an individual account, whereas a balance sheet and statement of cash flows are financial statements that report a company's financial position and cash flows, respectively.
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Which of the following statement is TRUE?
(1 Point)
Developmental programs improve conceptual skills of managers for the future job.
Training programs improve conceptual skills of nonmanagers for the future job.
Developmental programs improve technical skills of nonmanagers for the current job.
Training programs improve technical skills of mangers for the current job.
'Developmental programs improve conceptual skills of managers for the future job' is true. The right answer is a.
The goals and content of training and development are different from one another. While "development" refers to a long-term method through which managerial personnel understand conceptual and theoretical knowledge for broad reasons, "training" is a short-term process through which non-managerial personnel acquire technical knowledge and skills for a specific purpose.
Development covers the process through which managers and executives build capacity for both future managing roles as well as skills and competence for their current ones.
The correct answer is option a.
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Strong _______ skills influence hiring decisions and job performance, while at the same time promoting good relations in your personal life.
What are the resources og microeconomics?
Answer:
resources like land, tools, money, time, labor and enterprise