Superior Micro Products uses the weighted-average method in its process costing system. Data for the Assembly Department for May appear below: Materials Labor Overhead Work in process, May 1 $ 28,300 $ 46,299 $ 225,522 Cost added during May $ 171,980 $ 30,866 $ 150,348 Equivalent units of production 2,400 2,300 2,200 Required: Compute the cost per equivalent unit for materials, labor, overhead, and in total. (Round your answers to 2 decimal places.)
Answers
Answer:
materials labor overhead
May 1 $28,300 $46,299 $225,522
Cost added during May $171,980 $30,866 $150,348
total $200,280 $77,165 $375,870
Cost per equivalent unit:
EU materials = $200,280 / 2,400 = $83.45 per EU
EU labor = $77,165 / 2,300 = $33.55 per EU
Eu overhead = $375,870 / 2,200 = $170.85 per EU
Related Questions
how can i implement sponsorship to launch a sports brands
Answers
Consider the kind you want. Selecting the ideal sponsorship might be difficult at times because there are so many factors to take into account. Finding Companies Wanting to brands Sponsor Athletes and Selecting the Best Athlete Sponsor.
Make an effort to find sponsors. Supporting events has a number of advantages for businesses, most notably the following: increased brand awareness thanks to media coverage, event advertising, and the event itself. Sponsorship chances during events that assist build their brand equity. Direct interaction with a warm lead brands audience. When seeking corporate support, be sure to emphasise how your initiatives will further the company's greater charitable objectives.
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A successful data-driven market segmentation program depends on each of the following except:
a.
the rejection of tradiitional marketing research techniques
b.
the use of transactional and event data
c.
a common definition of market segments across all areas of the business
d.
developing a centralized and accessible CRM (Customer Relationship Management) database
Answers
A successful data-driven market segmentation program depends on the "use of transactional and event data", "a common definition of market segments", "and the development of a centralized CRM database" but it does not depend on "the rejection of tradiitional marketing research techniques".
The correct option to the given question is option a.
Traditional marketing research techniques, such as surveys, focus groups, and interviews, have long been used to gather insights about consumer behavior and preferences. While these techniques may have limitations, they still play a valuable role in understanding customer motivations and attitudes. Data-driven market segmentation programs can benefit from a combination of both traditional and data-driven research approaches. The use of transactional and event data is crucial for a data-driven market segmentation program. This type of data provides valuable information about customer behaviors, purchase patterns, and interactions with the business.
Having a common definition of market segments across all areas of the business ensures consistency and alignment in marketing efforts. This allows for targeted and personalized messaging that resonates with each segment. It also facilitates coordination between different departments, such as marketing, sales, and customer service, leading to a more cohesive and effective customer experience.
Finally, developing a centralized and accessible CRM database is essential for managing and analyzing customer data. It enables the integration of data from various sources, such as transactions, interactions, and demographic information, into a single platform. This centralized database provides a comprehensive view of customers, enabling more accurate segmentation and personalized marketing initiatives.
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Banks are financial intermediaries because they Group of answer choices print money as needed for borrowers whether business, individual, or government entities. hold all the money in the economic system in currency form. link savers who deposit money and borrowers who seek loans.
Answers
Answer: link savers who deposit money and borrowers who seek loans.
Explanation:
Loans are simply savings that someone else put into a bank. Without the bank however, it would be hard to connect the people who did the saving with the people who wanted to borrow.
The bank therefore acts as an intermediary for these people. Those who want to save, put money in a bank and those who want to get money, will then be loaned it by the bank. Because the banks has developed expertise in borrowing, it also protects the savings of the savers by not loaning out money to those that might not pay back. This is just one advantage of having the bank as an intermediary.
speedy motors LDT
identify the micro and the macro challenges of SM from the scenario
Answers
Based on the fact that Speedy Motors is in the automotive industry, some micro and macro challenges include:
Macro challenges - Government regulation and Economic growth. Micro challenges - Lack of liquidity and Retaining good labor. What are micro challenges?Micro challenges are those that affect a company alone and not the economy.
Companies in the automobile industry face the micro challenge of having poor liquidity because cars might not be sold fast enough. They also have issues with retaining good labor which can help them remain competitive.
What are macro challenges?These affect the economy and industry at large and so affect the company as well.
Some challenges here include government regulation that is aimed at reducing pollution. This will force an auto company to invest in more expensive equipment to comply.
If economic growth is poor, a car company will experience less sales as well.
In conclusion, there are several challenges affecting Speedy Motors.
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Research topic: Zimbabwe's hyperinflation
Policy intervention: Dollarization
a)Economic analysis. This section focuses on the economic dimension of the recent policy
intervention. While the goal of the policy intervention may have been to correct
domestic market conditions, your economic analysis should focus on the international
implications (either direct or indirect).
You should put the policy intervention in the context of the
economic theory (e.g., interest rate parity, DD-AA model) to determine if the
policy intervention had the expected impact on economic variables like price
levels, output, and exchange rates.
Recommendation/Critique.
b)In this section, provide a critique of the policy intervention.
Does it make sense given the Economic analysis provided above? Would other policy choices make more sense?
Answers
a) Economic analysis: Zimbabwe's hyperinflation was caused by a combination of factors such as government mismanagement, excessive money printing, and a decline in agricultural output.
b) Recommendation/Critique: Dollarization was a necessary policy intervention to curb Zimbabwe's hyperinflation and stabilize the economy.
a)In response, Zimbabwe adopted dollarization in 2009, which involved replacing the Zimbabwean dollar with foreign currencies, primarily the US dollar. The policy intervention had direct international implications as it resulted in increased demand for foreign currencies and reduced demand for the Zimbabwean dollar. Economic theories such as the DD-AA model suggest that dollarization would lead to a decrease in the exchange rate of the Zimbabwean dollar and an increase in output and price levels.
b)However, it has also led to some negative consequences, such as reduced flexibility in monetary policy and increased transaction costs. Additionally, the dependence on foreign currencies makes Zimbabwe vulnerable to external shocks, such as changes in exchange rates and trade policies. Therefore, other policy choices such as adopting a basket of currencies or implementing structural reforms to improve the domestic economy's productivity could be considered to address these issues.
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Jones Corporation switched from the LIFO method of costing inventories to the FIFO method at the beginning of 2017. The LIFO inventory at the end of 20X0 would have been $80,000 higher using FIFO. Reported retained earnings at the end of 2016 were $1,750,000. Jones’s tax rate is 21%. Tax law requires a company using LIFO for tax purposes to use it for financial reporting as well. So, when Jones changes from LIFO to FIFO, it will have to do the same for tax purposes. Further, Jones must recognize taxable income equal to the amount by which it increases the inventory valuation when it makes the change. As a result, Jones will pay tax on an additional $80,000 of taxable income in 2017.
Required:
a. Calculate the balance in retained earnings at the time of the change (beginning of 2017) as it would have been reported had FIFO been previously used.
b. Prepare the journal entry to record the change in accounting principle at the beginning of 2017.
Answers
Answer:
a. Calculate the balance in retained earnings at the time of the change (beginning of 2017) as it would have been reported had FIFO been previously used.
$1,813,200b. Prepare the journal entry to record the change in accounting principle at the beginning of 2017.
Dr Inventory 80,000 Cr Income taxes payable 16,800 Cr Retained earnings 63,200Explanation:
inventory under FIFO would have been $80,000 higher, that means that COGS were overstated by $80,000 and net earnings were understated by $80,000.
retained earnings 2016 = $1,750,000
tax rate 21%
Dr Inventory 80,000
Income taxes payable 16,800
Retained earnings 63,200
Retained earnings = $1,750,000 + $63,200 = $1,813,200
When companies change from LIFO to FIFO, they must adjust their income statement and balance sheet in a prospective way because it will affect the future value of their accounts. But when a company changes from FIFO to LIFO, no adjustment is required.
What is the first step in preparing a bank reconciliation?
A. comparing the adjusted balances
B. preparing journal entries
C. adjusting the balance per books
D. adjusting the balance per bank
Answers
Answer:
The first step in reconciling a bank statement is to compare financial record activities with bank statement activities
Explanation:
You have a credit card bill from ABC Credit for a total of $3,754. Please group the transactions within the appropriate T-Accounts based on the chart of accounts in your resources section. Within that balance the following transactions are listed:
$420 Office Supplies
$334 Auto (company van payment)
$1500 123 Computers to Go
$250 Electric Company
$100 Water
$150 Good Steak House (company luncheon)
$250 ABC Office Supplies
$100 Fuel Stop
$650 Furniture
Answers
Credit card bill from ABC credit have listed a number of expenses made, these needs to be posted according to the relevant accounting heads.
What is Accounting?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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In the classical model of decision making, the most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is known as the _______ decision. intuitive creative heuristic subjective optimum
Answers
Answer:
Optimum
Explanation:
The Classical approach to decision making is specific on making decisions to achieve required outcome. Under this approach, decisions are rationl and geared towards one stable and sustainable goal. The most appropriate decision possible in light of what is believed to be the most desirable consequences for the organization is the Optimum. The decision maker always makes decisions based on what is the best interests of that organization.
Timothy wants to cut costs in his company to increase the profitability of production. Which tactic should Timothy utilize to cut the costs and maintain the quality of output?
A.
using shorter transport routes
B.
use low-grade raw materials
C.
overworking the employees
D.
overstocking the input
Answer right gets
Answers
Answer:
A
Explanation:
Answer:
A) using shorter transport routes
Explanation:
I took the test, and just got it correct
The list price of an item is $96.60. The supplier is offering a series trade discount of 10/10/19. Find the net cost.
The net cost of the item is $
(Round to the nearest cent as needed.)
Answers
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:
The first discount is 10%.The second discount is 10%.The third discount is 19%.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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Lunar, Inc., plans to issue $900,000 of 10% bonds that will pay interest semiannually and mature in 5 years. Assume that the effective interest rate is 12% per year compounded semiannually. Compute the selling price of the bonds. Use Tables 2 and 3 in Appendix A near the end of the book.
Answers
Answer:
Bond Price = $833759.2165 rounded off to $833759.22
Explanation:
To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,
Coupon Payment (C) = 900000 * 0.1 * 6/12 = $45000
Total periods (n) = 5 * 2 = 10
r or YTM = 0.12 * 6/12 = 0.06 or 6%
The formula to calculate the price of the bonds today is attached.
Bond Price = 45000 * [( 1 - (1+0.06)^-10) / 0.06] + 900000 / (1+0.06)^10
Bond Price = $833759.2165 rounded off to $833759.22
According to the box “Making Ethical Decisions: Loyalty or Profitability?," a firm must give its employees __________ before closing and/or moving to another location
Answers
"Making Ethical Decisions: Loyalty or Profitability?" requires a firm to give its employees at least a notice period of 60 days before it can close shop or move to another location.
This requirement enables the employees to get prepared for the effects of the action on their employment status or relocation decisions.Typically, firms give the following reasons for making a relocation decision:
to reach new marketsto upgrade facilities or equipmentto lower costs or increase cash flowto start another line of business not suitable in the present locationto consider the quality of life of its employees.Thus, no matter the reason for closing or moving to another location, the firm should endeavor to give 60 days' notice to its employees.
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Bob just graduated from college and is now in the market for a new car. He has saved up $4,000 for a down payment. He has the decision narrowed down to a Cord and a Fevvy. The Cord is priced at $23,599, and the Fevvy is priced at $18,999. After agonizing over the decision, he decides to buy the Fevvy. He writes the dealership a check for $4,000 and takes out a loan for the remainder of the purchase price.
Identify what role money plays in each of the following parts of the story.
Hint: Select each role only once.
Answers
The role played by the money in each case is as follows:-
Medium of exchange.Comparison of values.Saving element.What is money?Money is a good that is widely acknowledged as a means of economic exchange. It serves as the medium for expressing values and pricing. It is the primary indicator of wealth since it moves from person to person and country to country, allowing trade.
In the above scenario, Bob wanted to purchase a car on loan and has to make a purchase decision among the two cars that are Fevvy and Cord.
The role played by the money in each case is mentioned as follows:-
Bob issues a $4000 check which states that money act as the medium of exchange as it is used to purchase a car.
Bob can easily ascertain that the Cord is more expensive than the Fevvy which states that money is used to compare the values of two cars, the unit of account.
Bob currently has $4,000 in savings, which shows the saving habits that will help in future needs.
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Your question is incomplete, probably the complete question was...
Identify what role money plays in each of the following parts of the story. (Medium of exchange, unit of account, or store of value)
A. Bob writes a check for $4,000.
B. Bob can easily determine that the price of the Cord is more than the price of the Fevvy.
C. Bob has saved $4,000 in his checking account.
1. A creditor's claim to the property of an individual or business is called
a. an equity
b. an asset
ca liability
d. a credit
Answers
Answer:
c. liabilities.
Explanation:
liabilities are the creditors claims to the assets of the business/property.
In 1967, Gary Jones purchased a house on North Bryan Street in Little Rock, Arkansas.
He and his wife lived in the house until they separated in 1993. Jones then moved into an
apartment in Little Rock, and his wife continued to live in the house. Jones paid his
mortgage each month for 30 years. The mortgage company paid the property taxes on the
house. After Jones paid off his mortgage in 1997, the property taxes went unpaid. In
April 2000, the Arkansas Commissioner of State Lands (Commissioner) attempted to
notify Jones of his tax delinquency and his right to redeem the property by paying the
past-due taxes. The Commissioner sought to provide this notice by mailing a certified
letter to Jones at the North Bryan Street address. Arkansas law approved the use of such a
method of providing notice. The packet of information sent by the Commissioner stated
that unless Jones redeemed the property, it would be subject to public sale two years
later. No one was at home to sign for the letter. No one appeared at the post office to
retrieve the letter within the next 15 days. The post office then returned the unopened
packet to the Commissioner with an “unclaimed” designation on it. In the spring of 2002,
a few weeks before the public sale scheduled for Jones's house, the Commissioner
published a notice of public sale in a local newspaper. No bids were submitted, meaning
that under Arkansas law, the state could negotiate a private sale of the property.
Several months later, Linda Flowers submitted a purchase offer. The Commissioner then mailed
another certified letter to Jones at the North Bryan Street address, attempting to notify him that
his house would be sold to Flowers if he did not pay his delinquent taxes. As with the first letter,
the second letter was returned to the Commissioner with an “unclaimed” designation. Flowers
purchased the house. Immediately after the expiration of the 30-day period in which Arkansas
the law would have allowed Jones to make a post-sale redemption of the property by paying the
past-due taxes, Flowers had an eviction notice delivered to the North Bryan Street property. The
notice was served on Jones's daughter, who contacted Jones and notified him of the tax sale.
Jones then filed a lawsuit in Arkansas state court against the Commissioner and Flowers. In his
lawsuit, Jones contended that the Commissioner's failure to provide notice of the tax sale and of
Jones's right to redeem resulted in the taking of his property without due process. The trial court
ruled in favor of the Commissioner and Flowers, and the Arkansas Supreme Court affirmed. The
U.S. Supreme Court agreed to decide the case and its central question of whether Jones was
afforded due process. How did the U.S. Supreme Court rule?
Answers
The ruling in Gary Kent Jones, Petitioner v. Linda K. Flowers et al. was that an actual notice was not required so long as the state had made some reasonable efforts to notify the party of their rights.
What was the argument?The argument in the case, Jones vs Flowers was that Jones had moved out of his house and did not receive several tax letters from the government stating that if he did not remit his taxes, the house would be sold.
Since Jones was not residing there and did not receive the letters, the house was sold. Jones argued that this violated the Fourteenth Amendment but the Supreme Court gave the above ruling.
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Jane is a customer service manager. She has been collecting information about customers and their experiences at her place of work for the past six months. She has noticed that consumers are interested in more online options so she hired a web developer to expand the company Web site. What has Jane used to improve customer experiences? Performance Based Evaluation (PBE) Performance Based Evaluation (PBE) Customer Satisfaction Analysis (CSA) Customer Satisfaction Analysis (CSA) Customer Relationship Management (CRM) Customer Relationship Management (CRM) Key Performance Indicators (KPIs)
Answers
The tool that allowed Jane to notice that consumers are interested in more online options and made her to hired a web developer to expand the company Web site is known as Customer Satisfaction Analysis; this analysis thus, helped her to improve customer experiences.
What is a Customer Satisfaction Analysis?Basically, the Customer Satisfaction Analysis stemmed from the measurement of Customer satisfaction which helps to determines how happy customers are with a company's products, services, capabilities etc.
The analysis often uses a data collected through a survey or questionnaire to identify behaviors that lead to happy or unhappy customers. Through these analysis, firms may spot trends causing dissatisfaction and implement changes to retain current customers.
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Which person would most likely have a bad credit report?
A. Oliver pays off the balance on his credit card every month and
recently closed an account he doesn't use.
B. In the past year, Brendan paid some of his bills late, and he has
several credit cards he never uses.
O C. Josie declared bankruptcy 10 years ago, has been in the me job
for eight years, and shays all her bills on time.
D. Mark has lived in the same house for 10 years, and he always pays
his bills on time,
Answers
Answer:
b. He has five credits cards with high balances.Explanation:A VantageScore is a credit score model that shows the probability that someone will pay the loans. A 400 VantageScore is very poor and people can get this score for different situations like bankruptcies as they will appear in your report for up to 10 years, having high utilization rates on your credit card and missing payments. According to this, the answer is that the factor that could be the cause is: he has five credits cards with high balances because he would have a high utilization rate which hurts the credit score. The other options are not right because a bankruptcy appears in the report for up to 10 years, a low debt to credit ratio shows that you use your credit in a responsible form and it won't hurt your credit acore. Also, if someone doesn't have a credit history, there is no score because there is no data to define that.
Explanation:
Answer:
d. because it's the in that makes the most sense
She wants a career that lets her travel to different companies and show workers there how to use complex software. Which term BEST describes Mara’s career goal? team-building specialist external trainer internal trainer cohesion specialist
Answers
The term that describes Mara’s career goal is to be an external trainer. Option (b) is correct.
What do you mean by cohesion specialist?Plan social cohesion activities centered around your neighborhood, ensuring the use of Do No Harm and conflict-sensitive strategies is a Cohesion specialist.
External training is distinguished by the possibility that the instructors have more extensive training backgrounds and more in-depth theoretical and practical knowledge. Employees can get a different perspective and learn about new methods thanks to external training, which also brings ideas from outside the organization.
Therefore, Option (b) is correct.
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What is the safest action you could take if you receive a resume on LinkedIn from a candidate who is interested in a position at your organization
Answers
If you receive a resume on Lin-kedIn from a candidate who would be interested in a position at your company, save the attachment immediately to their candidate profile.
This enables you to study the candidate's profile and recruiting activity before determining whether to pursue the candidate further. When uploading your resume online, you should also choose trusted sources that have a direct link to legitimate firms and recruiters.
You can also forward the message to the employment site that was used and advise them that if someone is interested in a position at your organization, they may want to remove the listing.
As a result, the significance of the safest action you could take if you receive a resume on the candidate are the aforementioned.
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Kathy is the chief marketing officer for a big law firm. After looking at the company's sales data, she recognizes that most of the cases her company represented were to clients who lived in the neighboring city. She decides she will boost advertisements in the neighboring city to increase their case numbers. What did Beth determine by looking at her company's sales data?
options:
1. Value proposition
2. Pricing
3. Target market
4. Revenue
Answers
Answer: 3. Target Market
Explanation:
A target market is a group of consumers or organizations most likely to buy a company's products or services. Because those buyers are likely to want or need a company's offerings, it makes the most sense for the company to focus its marketing efforts on reaching them. I also had this question :)
Answer:
it is target market just to confirm :D
Scheduling personnel is an example of an operations management:
A. mission implementation
B. operational decision
C. organizational strategy
D. functional strategy
E. tactical decision
Answers
Answer:
B. operational decision
Explanation:
Scheduling personnel is an example of an operations management: operational decision
Scheduling personnel represents an example of an operations management of an operational decision.
The following information should be considered:
The staff-level decisions should be made from the lower level to the hierarchy level.Many decisions should be taken at many hierarchy levels.In this, the authority is present for taking the decisions.The lower level should take the decisions with respect to the employees.Therefore the other options are incorrect.
Hence we can conclude that scheduling personnel represents an example of an operations management of an operational decision.
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Suppose the required reserve ratio is 3 percent, and currency and reserves total $10 million. The maximum money supply that can be supported is:
Answers
Answer:
$333.33 million
Explanation:
the required reserve ratio is the ratio of deposits that a bank must keep in its vaults as a required reserve
the maximum amount of deposit = $10 million / 0.03 = $333.33 million
4.2.9 Quiz: Selecting a Candidate and Making an Offer
Question 9 of 10
Which of the following is a way for an HR department to ensure it is following
up with job candidates in an EEO-compliant manner?
OA. They ensure that they have asked job candidates about their
willingness to work weekends.
OB. They ensure that have look at their budget before making a firm
offer on the wage or salary.
OC. They ensure that they ask job candidates about why they left their
last job or position.
OD. They ensure job candidates have been recruited from a wide
variety of minority channels.
Answers
One way that an HR department can ensure it is following up candidates right is D. They ensure job candidates have been recruited from a wide variety of minority channels.
What is EEO Compliance ?It is crucial for organizations to maintain a diverse candidate pool as it upholds EEO compliance, thereby preventing discrimination and enabling equal opportunities, adopting various minority channels in the recruitment process guarantees unbiased consideration of applicants from distinct backgrounds, which counters traditional recruitment methods that may be partial to certain groups.
Through this approach, HR departments can ensure impartiality and inclusivity in their hiring processes while serving the organization's overall best interests.
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Which of the following statements about capital structure are correct? Select ALL correct answers.
A company needs to consider the current economic climate when making decisions on debt and equity proportions.
A company should always finance its business using as much debt as possible in order to optimize the capital structure.
Having too much equity may dilute earnings and the value of the original investors.
Having too little debt may increase the risk of default in repayment.
?
Answers
Having too much equity may dilute returns and the value of the original investors capital structure are correct.
What is the capital structure?
Capital structure refers to the specific mix of debt and equity used to invest a company's assets and operations. From a corporate perspective, equity denotes a more expensive, permanent source of capital with more significant financial flexibility.
What is capital structure and why is it important?
Capital structure relates to how much money—or capital—is helping a business, financing its assets, and funding its operations. It can also show company investments and capital expenditures that can affect the business's bottom line.
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In Year 1, the investor acquired 10% ownership of investee and applied fair value method to account for the investment. In Year 2, the investor acquired another 30% ownership and applied equity method to account for the investment (40% ownership). In Year 3, the investor sold 35% ownership of the investee and started using fair value method again to account for the investment (5% ownership). Should the investor apply retrospective adjustment in Year 2 and Year 3
Answers
Answer:
b
Explanation:
For each of the following accounts indicate the effects of a debit and a credit on the account and the normal balance of the account
Answers
The following accounts indicate the effects of a debit and a credit on the account and the normal balance of the account.
What are accounts?Accounting is not pure mathematics. Simple multiplication, division, and addition are involved. There might be a little elementary algebra, but that's it. You are not required to comprehend calculus.
1. accounts payable - Debit effect: Decrease
Credit effect: Increase
Normal Balance: Credit
2. advertising expense - Debit effect: increase
Credit effect: decrease
Normal Balance: debit
3. service revenue - Debit effect: decrease
Credit effect: increase
Normal Balance: credit
Therefore, As a result, The normal bank account is referred as the following charts.
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(214) 1. Distinguish between technical efficiency and allocative efficiency. Use the two concepts of efficiency to compare a perfect market structure with a monopoly.
Answers
Technical efficiency refers to the ability to produce the maximum output from a given set of inputs or resources. It focuses on the production process and achieving the highest output level with the least amount of resources wasted. Technical efficiency emphasizes optimizing the production process to minimize costs and maximize productivity.
Allocative efficiency, on the other hand, relates to the allocation of resources in a way that maximizes overall social welfare. It refers to the ideal allocation of resources that matches consumers' preferences and demands. Allocative efficiency ensures that resources are allocated so that goods and services align with consumer preferences. This results in the best outcome for society.
When comparing an ideal market structure with a monopoly in terms of efficiency, there are significant differences. In an ideal market structure, characterized by complete competition, both technical and allocative efficiency is typically achieved. Many buyers and sellers exist, information is freely available, and no single entity controls the market. Competition drives firms to produce at the lowest cost and offer goods and services that match consumer preferences, leading to technical and economic efficiency.
In contrast, a monopoly represents a market structure where a single firm dominates the industry and has substantial market power. In terms of technical efficiency, a monopoly may not necessarily achieve the same level as a perfectly competitive market. Due to the lack of competition, a monopoly may not have the same incentive to minimize costs or innovate as efficiently as possible. This can result in higher production costs and lower technical efficiency.
Regarding allocation efficiency, monopolies often fail. Without competition, a monopolistic firm can set prices higher than the marginal cost of production, resulting in a suboptimal allocation of resources. The monopolist may prioritize maximizing profits rather than satisfying consumer preferences. This leads to a less efficient allocation of resources than in a perfectly competitive market.
Overall, an ideal market structure exhibits higher levels of technical and allocative efficiency than a monopoly. When true competition promotes resource optimization and consumer satisfaction, resulting in more efficient resource allocation.
Sales revenue $440,000 Advertising expense 60,000 Interest expense 10,000 Salaries expense 55,000 Utilities expense 25,000 Income tax expense 45,000 Cost of goods sold 180,000 What is operating income
Answers
Answer:
Lake's operating income is $120000
Explanation:
Operating income is the income generated by the operations of company less its operating cost. Another name that is used for operating income is Earnings before interest and tax (EBIT). The charges or income relating to non operating or financing activities is not included in the operating income and nor is the tax deduction included.
The formula for operating income = Sales - Cost of Sales - operating expenses.
The operating expenses here, are = Advertising + Salaries + Utilities
Thus, operating expenses = 60000 + 55000 + 25000 = $140000
The Operating Income = 440000 - 180000 - 140000 = $120000
Operational income is calculated as follows: sales, cost of sales, and operational expenditures.
Here, the running costs are calculated as follows: marketing + salaries + utilities
Operating expenditures thus equal $60,000 plus $55,000 plus $25,000 for a total of $140000.
Operating Income: ($120000) = (440,000 - 188,000 - 148,000)
An accounting concept known as operational income assesses the amount of profit generated by a company's activities after operating costs like salaries, depreciation, and cost of goods sold (COGS) have been subtracted.
Operating income, also known as income from operations, is calculated by deducting all operating costs from a company's gross income, which is equal to total sales less COGS. Operating costs are those incurred by a business during regular business operations and include things like office supplies and electricity.
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What does the Myers-Briggs Type Indicator classification of "E or I" stand for?
Answers
The Myers-Briggs Type Indicator classification of "E or I" stand for: C) extroverted/introverted.
What is Myers-Briggs personality trait?Myers-Briggs personality trait simply refers to a type of personality indicator or a self-report inventory that was designed and developed by Isabel Myers and Katherine Briggs to identify an individual's personality type, preferences, and strengths.
Additionally, the Myers-Briggs Type Indicator classification comprises the following four (4) categories:
Introversion or extraversion.Sensing or intuition.Thinking or feeling.Judging or perceiving.According to the Myers-Briggs personality trait, the type indicator classification of "E or I" simply represents extroverted or introverted.
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Complete Question:
What does the Myers-Briggs Type Indicator classification of "E or I" stand for?
A) extroverted/intuitive
B) emotional/introverted
C) extroverted/introverted
D) emotional/intuitive
E) sane/reflective