Two different forecasting techniques (F1 and F2) were used to forecast demand for cases of bottled water. Actual demand and the two sets of forecasts are as follows:
PREDICTED DEMAND
Period Demand F1 F2
1 68 63 62
2 75 66 61
3 70 73 70
4 74 65 71
5 69 71 73
6 72 69 73
7 80 70 76
8 78 72 80
a.
Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal place.)
MAD F1
MAD F2
(Click to select)F1F2None appears to be more accurate.
b.
Compute the MSE for each set of forecasts. Given your results, which forecast appears to be more accurate? (Round your answers to 2 decimal places.)
MSE F1
MSE F2
(Click to select)F1F2None appears to be more accurate.
c.
In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other?
Either one might already be in use, familiar to users, and have past values for comparison. If (Click to select)control chartstracking signals are used, MSE would be natural; if (Click to select)tracking signalscontrol charts are used, MAD would be more natural.
d.
Compute MAPE for each data set. Which forecast appears to be more accurate? (Round your intermediate calculations to 2 decimal places and and final answers to 2 decimal places.)
MAPE F1
MAPE F2
Answers
Answer:
a. Compute MAD for each set of forecasts. Given your results, which forecast appears to be more accurate?
I used an excel spreadsheet (attached as MAD).
F1 seems to be more accurate.
b. Compute the MSE for each set of forecasts.
I used an excel spreadsheet (attached as MSE).
F2 seems to be more accurate.
c. In practice, either MAD or MSE would be employed to compute forecast errors. What factors might lead a manager to choose one rather than the other?
Either one might already be in use, familiar to users, and have past values for comparison.
If control charts are used, MSE would be natural; if tracking signals are used, MAD would be more natural.d. Compute MAPE for each data set. Which forecast appears to be more accurate?
I used an excel spreadsheet (attached as MAPE).
F2 seems to be more accurate.
Explanation:
Period Demand F1 F2
1 68 63 62
2 75 66 61
3 70 73 70
4 74 65 71
5 69 71 73
6 72 69 73
7 80 70 76
8 78 72 80
Related Questions
If cotton is used to produce towels, an increase in the price of cotton will result in which of the following changes in the towel market?
(A) A decrease in the demand for towels, which leads to a shortage of towels followed by an upward pressure on the price of towels
(B) A decrease in the demand for towels, which leads to a surplus of towels followed by a downward pressure on the price of towels
(C) a decrease in the supply of towels, which leads to a shortage of towels followed by upward pressure on the price of towels
(D) an increase in the supply of towels, which leads to a surplus of towels followed by downward pressure on the price of towels
(E) an increase in both the demand and supply of towels, which leads to a surplus of towels followed by upward pressure on the price of towels
Answers
The correct answer is (C) a decrease in the supply of towels, which leads to a shortage of towels followed by upward pressure on the price of towels.
What kind of fabric are towels?
The majority of towels are made of cotton, although they have also been fashioned from silk, synthetic materials, nettle, and wood. Cotton is a common fallback because, after processing, it is hydrophilic.
A reduction in towel supply causes a scarcity of towels and subsequent pressure on prices.
Therefore, Towels that are the nicest, smoothest, and most absorbent are made from premium Turkish and Egyptian cotton.
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The right response is (C) a reduction in towel supply that causes a shortage in towels and subsequent pricing pressure.
How does pressure work?Pressure is the term for the pressure exerted on the an unit of area of a surface. It operates opposite to the surface being applied pressure on. • Pressure is a force and the space it affects.
Describe a force?An object is going to be at rest or in motion as a result of forces. Think of a football lying still on the ground as an illustration. You must exert some force on the ball in order to move it in any direction
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Percentage of sales budgeting can also be called _____.
arbitrary budgeting
objective and task budgeting
rule of thumb budgeting
competitive budgeting
Answers
Answer:
promotional budget is set as a percentage of current or anticipated sales
Typical percent of sales is 2%-5%
Explanation:
so I would have to say arbitrary budgetingBob Martino has a home mortgage on a vacation home with ABC Co., a local credit union. Which condition would allow him to work on the firm's audit of ABC?
1) No condition would allow him to work on the audit.
2) He will charge less than 20 hours to the credit union's audit.
3) His loan is not material to his net worth.
4) He is not the lead engagement partner or manager on the account.
Answers
Based on the information, the condition that would allow him to work on the firm's audit of ABC is His loan is not material to his net worth. Thus the correct option is D.
Bob Martino would need permission from ABC management in order to participate in the corporate audit of ABC Co., a financial institution.
Bob Martino would need permission to refrain from using any private information gained from the credit union audit for his or her own benefit in order to qualify for the exemption.
The auditing company would need to determine whether his loan is material to his net worth in order to make sure he is not swayed by his own financial interests.
Therefore, option D is appropriate.
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Beech's managers have made the following additional assumptions and estimates:
25
points
eBook
Print
1. Estimated sales for July, August, September, and October will be $210,000, $230,000, $220,000, and $240,000, respectively.
2. All sales are on credit and all credit sales are cofected. Each month's credit sales are collected 35% in the month of sale and 65%
In the month following the sale. All of the accounts receivable at June 30 will be collected in July,
3. Each month's ending inventory must equal 30% of the cost of next month's sales. The cost of goods sold is 60% of sales. The
company pays for 40% of its merchandise purchases in the month of the purchase and the remaining 60% in the month following
the purchase. All of the accounts payable at June 30 will be paid in July.
4. Monthly selling and administrative expenses are always $60,000. Each month $5,000 of this total amount is depreciation expense
and the remaining $55,000 relates to expenses that are pald in the month they are incurred,
5. The company does not plan to borrow money or pay or declare dividends during the quarter ended September 30. The company
does not plan to issue any common stock or repurchase its own stock during the quarter ended September 30,
References
Required:
1. Prepare a schedule of expected cash collections for July, August, and September
2-a. Prepare a merchandise purchases budget for July, August, and September
. Also compute total merchandise purchases for the
quarter ended September 30.
2-6. Prepare a schedule of expected cash disbursements for merchandise purchases for July, August, and September.
Dronare an income statement that comnite nat nerating income for the cuarter andart Sentomhar an
Answers
1. The preparation of the schedule of expected cash collections for July, August, and September for Beech Corporation is as follows:
Cash Collections:July August September
Estimated sales $210,000 $230,000 $220,000
Cash collection:
35% sales month $178,500 $80,500 $77,000
65% month following 140,000 136,500 149,500
Total cash collections $318,500 $217,000 $226,500
2. The preparation of a schedule of merchandise purchases for July, August, and September for Beech Corporation is as follows:
Merchandise Purchases:July August September
Estimated sales $210,000 $230,000 $220,000
Cost of goods sold $126,000 $138,000 $132,000
Ending inventory $69,000 $66,000 $72,000
Goods available $195,000 $204,000 $204,000
Beginning inventory 60,500 69,000 66,000
Purchases $134,500 $135,000 $138,000
The total merchandise purchases for the quarter ended September 30 is $407,500 ($134,500 + $135,000 + $138,000).
2-b. The preparation of a schedule of expected cash disbursements for merchandise purchases for July, August, and September for Beech Corporation is as follows:
Cash Disbursements:July August September
Purchases $134,500 $135,000 $138,000
Cash payment for purchases:
40% month of purchase $53,800 $54,000 $55,300
60% month following 88,000 $80,700 81,000
Total cash payment $141,800 $134,700 $136,300
3. The preparation of an income statement showing the net operating income for the quarter for Beech Corporation is as follows:
Beech's Corporation
Income Statement:July August September Total
Estimated sales $210,000 $230,000 $220,000 $660,000
Cost of goods sold $126,000 $138,000 $132,000 396,000
Gross profit $84,000 $92,000 $88,000 $264,000
Expenses:
Selling and admin. $60,000 $60,000 $60,000 $180,000
Net income $24,000 $32,000 $28,000 $84,000
Data and Calculations:Sales Budget and Cash Collections
July August September October
Estimated sales $210,000 $230,000 $220,000 $240,000
Cash collection:
35% sales month $178,500 $80,500 $77,000 $84,000
65% month following 140,000 136,500 149,500 143,000
Total cash collections $318,500 $217,000 $226,500 $227,000
July August September October
Estimated sales $210,000 $230,000 $220,000 $240,000
Cost of goods sold $126,000 $138,000 $132,000 $144,000
Ending inventory $69,000 $66,000 $72,000
Goods available $195,000 $204,000 $204,000
Beginning inventory 60,500 69,000 66,000
Purchases $134,500 $135,000 $138,000
Cash payment for purchases:
40% month of purchase $53,800 $54,000 $55,300
60% month following 88,000 $80,700 81,000
Total cash payment $141,800 $134,700 $136,300
Beech Corporation
Balance Sheet at June 30:Assets:
Cash $75,000
Accounts receivable 140,000 143,000
Inventory 60,500
Plant and Equipment 227,000
Total assets $508,500
Liabilities:
Accounts Payable $88,000 $82,700
Common Stock 311,000
Retained Earnings 109,500
Total liabilities & equity $508,500
Thus, the net operating income for the quarter ended September 30 for Beech Corporation is $84,000.
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NPV and maximum return A firm can purchase new equipment for a $ 17,000 initial investment. The equipment generates an annual after-tax cash inflow of $ 4,000 for 7 years. a. Determine the net present value (NPV) of the asset, assuming that the firm has a cost of capital of 13%. Is the project acceptable? b. Determine the maximum required rate of return that the firm can have and still accept the asset. a. The net present value (NPV) of the new equipment is $ 690.44. (Round to the nearest cent.) Part 2 Based on its NPV, is the new equipment acceptable? (Select the best answer below.) Yes Your answer is correct. No Part 3 b. The maximum required rate of return the firm can have and still accept the new equipment is enter your response here%. (Round to two decimal places.)
Answers
The net present value (NPV) of the new equipment is $ 690.44. .
Based on the NPV, the project is acceptable.
The maximum required rate of return the firm can have is 14.29%.
What is the NPV?Net present value is the present value of after-tax cash flows from an investment less the amount invested. Only projects with a positive NPV should be accepted. A project with a negative NPV should not be chosen because it isn't profitable
Net present value = -17,000 + 4000 / 1.13 + 4000 / 1.13² + 4000 / 1.13³ + 4000 / 1.13^4 + 4000 / 1.13^5 + 4000 / 1.13^6 + 4000 / 1.13^7 = $690.44
The maximum required rate of return is the internal rate of return. Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
IRR = 14.29%
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Another factor influencing business ethics is _____, or what is fair according to prevailing standards of society.
Group of answer choices
equity
utilitarianism
validity
righteousness
justice
Answers
Answer: Justice.
Explanation: Justice is a moral principle that leads people to act in the correct way according to established laws. When speaking at the business level, justice seeks that people are paid in a reasonable way according to their functions, that there is no inequality, and that everyone can receive the treatment they deserve.
Where would revenue be maximized for a company facing a linear demand curve
Answers
Answer:
at equilibrium point
Explanation:
equilibrium when price is reasonable to both sellers and buyers. They are willing to buy and sell at optimal quantity, so that firm can maximize revenue
The shorter your term length, the
the total interest you will pay.
*
your monthly payments, and the
O higher, lower
O higher, higher
O lower, lower
lower, higher
Answers
Answer:
lower, higher
Explanation:
For a term loan, the longer the repayment duration, the more interest one pays.
Longer loan terms have a lower interest rate that seems attractive and affordable to customers. Long terms loans will also have low monthly repayments. Short-term loans have high-interest rates and high monthly repayments. However, the total interest paid on long-term loans is usually higher than that of short term loans. Lenders consider long term loans as riskier and will design them to attract more interest.
What ethical questions do you think you should ask when you compose material for marketing and outreach?
How would you counter “smears” like these?
Answers
Answer:
By adopting appropriate marketing ethics, brands can engage prospects with high credibility, customer loyalty, significant market share, improved brand value, better sales, and better revenue. These ethical practices will place their right towards achieving both short-term and long-term goals with perfection.
A smear campaign, also referred to as a smear tactic or simply a smear, is an effort to damage or call into question someone's reputation, by propounding negative propaganda.[1] It makes use of discrediting tactics.
Question 4
A) Monopolistically competitive markets and perfectly competitive markets share some similarities but differ in a number of ways. One such difference between the two is that monopolistically competitive firms _____.(1 point)
face some barriers to entry
face no barriers to entry
feature homogeneous products
feature differentiated products
Question 5
A) A health-care firm is looking to expand to international markets in an effort to increase profits. One potential location has only a few competing health-care providers, each holding a significant percentage of market share. Licensing requirements are high, but the firm may consider establishing a presence in the new location to enjoy _____.(1 point)
the high prices that arise from monoplistic competition
the high prices that arise from perfect competition
the horizontal demand curves
the downward-sloping demand curves
Answers
Answer:
A) is feature differentiated products B) is the downward sloping demand curves
Explanation:
Just took the quiz
Monopolistically competitive markets and perfectly competitive markets share some similarities but differ in a number of ways. One such difference between the two is that monopolistically competitive firms is:
A) is feature differentiated productsLicensing requirements are high, but the firm may consider establishing a presence in the new location to enjoys:
B) is the downward sloping demand curvesAccording to the questions, we can see that a monopolistic market and a competitive one are similar in some ways and also have their differences in which one of them is that they sell differentiated products.
When a market is said to be monopolistic, it means that it has no competition from other markets and it is the sole distributor of a particular product to the public.
Some of the disadvantages of this include::
Higher prices of goodsFewer choices for the customer to choose fromThe advertising is sometimes misleading, etcTherefore, the correct answers are options A and B
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Reconcilling supply and demand has four overlapping activities, indicate these activites
Answers
To reconcile supply and demand, there are four overlapping activities. The four overlapping activities that help reconcile supply and demand are as follows:
Activity 1: Forecasting - The first step is forecasting, which entails predicting demand for goods and services. It is a quantitative process that includes data gathering, data cleansing, and mathematical modelling.
Activity 2: Planning - Planning is the second step. Planning involves identifying the resources needed to meet the anticipated demand, as well as allocating the available resources efficiently.
Activity 3: Execution - Execution is the third step. Execution entails efficiently managing the flow of goods and services from suppliers to customers, ensuring that the appropriate product and service is provided at the correct location, and ensuring that demand is satisfied.
Activity 4: Monitoring - Finally, the process includes monitoring the performance of the activities and the supply chain as a whole. It entails comparing actual performance to expected performance and identifying areas for improvement.
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Three different methods for assembling a product were proposed by an industrial engineer. To investigate the number of units assembled correctly with each method, 30 employees were randomly selected and randomly assigned to the three proposed methods in such a way that each method was used by 10 workers. The number of units assembled correctly was recorded, and the analysis of variance procedure was applied to the resulting data set. The following results were obtained: SST = 10,730; SSTR = 4520.
Answers
The analysis of variance (ANOVA) table is a tabular representation of the findings. It details each source of variation's sources of variation, degrees of freedom, sum of squares, mean squares, and F-ratio.
The ANOVA tableTo set up the ANOVA table, we need the following information:
Total sum of squares (SST): 10,800
Sum of squares between treatments (SSTR): 4560
Calculating the sum of squares within treatments (SSE):
SSE = SST - SSTR
SSE = 10,800 - 4560
SSE = 6240
For degrees of freedom (df),
Total degrees of freedom (dfTotal) = Total number of observations - 1
Treatment degrees of freedom (dfTreatment) = Number of treatments - 1
Error degrees of freedom (dfError) = dfTotal - dfTreatment
In this case.
Total number of observations = 30
Number of treatments = 3
dfTotal = 30 - 1
= 29
dfTreatment = 3 - 1
= 2
dfError = 29 - 2
= 27
Calculating mean squares (MS),
MST = SSTR / dfTreatment
MSE = SSE / dfError
MST = 4560 / 2 = 2280
MSE = 6240 / 27 ≈ 231.85
Calculating the F-ratio,
F-ratio = MST / MSE
F-ratio = 2280 / 231.85
≈ 9.83
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Question:
Three different methods for assembling a product were proposed by an industrial engineer. To investigate the number of units assembled correctly with each method. 30 employees were randomly selected and randomly assigned to the three proposed methods in such a way that each method was used by 10 workers. The number of units, assembled correctly was recorded, and the analysis of variance procedure was applied to the resulting data set. The following results were obtained: SST = 10,800. SSTR = 4560. Set up the ANOVA table for this problem. Using alpha = .05. test for any significant difference in the means for the three assembly methods.
A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. As a result, some business owners have become successful, while others have not.
In an essay, you will choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world.
Answers
The entrepreneur that is chosen for this argument is Steve Jobs. Steve Jobs was one of the co-founders of Apple, which is now a trillion-dollar company.
The free enterprise system was necessary for Steve Jobs to make an impact on the business world. Steve Jobs did not come from a wealthy background, but he had a passion for technology. The free enterprise system allowed him to start a business without any restrictions from the government.
He was able to create innovative products, such as the iPhone and iPad, and sell them to consumers. The supply and demand of consumers determined the success or failure of his business endeavors. Steve Jobs was able to create a successful company and become a billionaire because of the free enterprise system.
Without the free enterprise system, Steve Jobs may not have been able to start a successful business and make an impact on the business world.
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On June 25, Ritts Roofing extended an offer of $250,000 for land that had been priced for sale at $300,000. On July 9, Ritts accepted the seller’s counteroffer of $275,000. On October 1, the land was assessed at a value of $280,000 for property tax purposes. On December 22, Ritts was offered $305,000 for the land by a national retail chain. At what value should the land be recorded in Ritts Roofing's records? $ fill in the blank 1
Answers
Answer:
$275,000
Explanation:
The computation of the value that should the land be recorded is shown below:
= Value at which rits accepted the counteroffer of the seller
= $275,000
Hence, the alue that should the land be recorded is $275,000
Basically it records the cost value as per the cost concept
The same should be considered
List TWO consequences for a company if they receive a qualified audit opinion
Answers
The Bountiful Bakery is considering hiring another pastry chef. The bakery knows the average product of its chefs currently is 15 dozen croissants per day. It also believes that the next chef hired will produce an extra 12 dozen croissants per day. A dozen croissants sell for $30. The bakery should hire another worker:
Answers
Answer: only if the new chef's daily wage is $360 or less.
Explanation:
It should be noted that the decision with regards to hiring a new chef will be made by the company when the marginal value product is more than the marginal cost.
The marginal value product here will be: = (12 × $30) = $360. Therefore, The bakery should hire another worker only if the new chef's daily wage is $360 or less.
Hi can someone help!
The most direct wat for Johnathan to gain on the job experience and earn money while attending school is to apply for:
a. Private Loan
b. A work study program
c. Federal financial aid
d. Scholarships
Answers
Answer:
a work study program...........
Rainbow Products is considering the purchase of a paint-making machine to reduce labor costs. The savings are expected to result in additional cash flows to Rainbow of $5000 per year. The machine costs $35,000 and is expected to last for 15 years. Rainbow has determined that the cost of capital for such an investment is 12%.
Instead of the service contract, Rainbow engineers have devised a different option to preserve and actually enhance the capability of the machine over time. By investing 20% of the annual cost savings back into new machine parts, the engineers can increase the cost savings at a 4% annual rate. For example, at the end of year one, 20% of the $5,000 cost savings is reinvested in the machine; the net cash flow is thus $4,000. Next year the cash flow from cost savings grows by 4% to $5,200 gross, or $4,160 net of the 20% investment. As long as the 20% reinvestment continues, the cash flows continue to grow at 4% in perpetuity. What should Rainbow do?
A. What is NPV?
B. What is IRR?
C. What is payback?
Answers
Answer:
In finance, the net present value or net present worth applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate. NPV accounts for the time value of money.
The internal rate of return is a measure of an investment’s expected future rate of return. As the IRR is an estimate of a future annual rate of return, IRR should not be confused with the actual achieved investment return of an historical investment.
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mark me as brainliesatDifference between planning organising leading controlling
Answers
Explanation:
Planning and Decision Making: Determining Courses of Action,
Organizing: Coordinating Activities and Resources, Leading: Managing, Motivating and Directing People, Controlling: Monitoring and Evaluating activities.
Answer:
Planning is the process of setting goals and defining the actions required to achieve the goals.
Organizing means to arrange or order things so that they can be found or used easily and quickly
Leading means like a leader or coming or ranking first place
Someone who is “controlling” tries to control situations to an extent that is unhealthy or tries to control other people
Explanation:
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Magnificent Blooms is a florist specializing in floral arrangements for weddings, bo graduations, and other events. Magnificent Blooms has a fixed cost associated with space and equipment of $100 per day. Each worker is paid $50 per day. The daily production § function for Magnificent Blooms is shown in the accompanying table. © Macmil Submit All Quantity of labor (workers) 0 1 2 3 4 5 a. Calculate the marginal product of each worker. Quantity of floral arrangements 0 5 9 12 14 15 Marginal product Quantity of labor (workers) 1 2
Answers
The marginal product of each worker for Magnificent Blooms is as follows: Worker 0: N/A: Worker 1: 5: Worker 2: 4: Worker 3: 3: Worker 4: 2: Worker 5: 1
To calculate the marginal product of each worker for Magnificent Blooms, we need to determine the change in the quantity of floral arrangements resulting from each additional worker.
Here's how to calculate the marginal product for each worker:
Worker 0: Since there are no workers (0 workers), the quantity of floral arrangements is 0. Therefore, the marginal product for worker 0 cannot be calculated.
Worker 1: The quantity of floral arrangements with 1 worker is 5. To calculate the marginal product for worker 1, we subtract the quantity of floral arrangements with 0 workers from the quantity with 1 worker: 5 - 0 = 5.
Worker 2: The quantity of floral arrangements with 2 workers is 9. To calculate the marginal product for worker 2, we subtract the quantity of floral arrangements with 1 worker from the quantity with 2 workers: 9 - 5 = 4.
Worker 3: The quantity of floral arrangements with 3 workers is 12. To calculate the marginal product for worker 3, we subtract the quantity of floral arrangements with 2 workers from the quantity with 3 workers: 12 - 9 = 3.
Worker 4: The quantity of floral arrangements with 4 workers is 14. To calculate the marginal product for worker 4, we subtract the quantity of floral arrangements with 3 workers from the quantity with 4 workers: 14 - 12 = 2.
Worker 5: The quantity of floral arrangements with 5 workers is 15. To calculate the marginal product for worker 5, we subtract the quantity of floral arrangements with 4 workers from the quantity with 5 workers: 15 - 14 = 1.
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The Montgomerys borrowed $107,000 at 7.50% for 30 years to purchase a house. Find the total interest the Montomerys will pay if they pay the loan on schedule. Click the icon to view the monthly payment of principal and interest table. OA. $162,254.80 OB. $149, 158.00 OC. $177,662.80 OD. $168,803.20
Answers
The total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
To find the total interest the Montgomerys will pay over the course of the loan, we can calculate the monthly payment and then subtract the principal borrowed.
First, we need to calculate the monthly payment using the loan amount, interest rate, and loan term. We can use the formula for calculating the monthly payment on an amortizing loan:
Monthly payment =\(P * r * (1 + r)^n / ((1 + r)^n - 1)\)
Where:
P = Principal amount borrowed = $107,000
r = Monthly interest rate = Annual interest rate / 12 = 7.50% / 12 = 0.625%
n = Total number of payments = 30 years * 12 months/year = 360 months
Plugging in the values, we have:
Monthly payment = $107,000 * 0.00625 * (1 + 0.00625)^360 / ((1 + 0.00625)^360 - 1)
≈ $750.20
The monthly payment of principal and interest is approximately $750.20.
To find the total interest paid, we can multiply the monthly payment by the total number of payments and subtract the principal borrowed:
Total interest paid = (Monthly payment * Total number of payments) - Principal borrowed
= ($750.20 * 360) - $107,000
≈ $270,072 - $107,000
≈ $163,072
Therefore, the total interest the Montgomerys will pay if they pay the loan on schedule is approximately $163,072.
None of the provided answer options match the calculated value. However, based on the calculation, the closest option is OA. $162,254.80.
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Wickland Company installs a manufacturing machine in its production facility at the beginning of the year at a cost of $156,000. The machine's useful life is estimated to be 20 years, or 110,000 units of product, with a $1,000 salvage value. During its second year, the machine produces 4,400 units of product. Determine the machines' second-year depreciation under the straight-line method.
Multiple Choice
$7,800.
$6,240.
$6,200.
$7,850.
$7,750.
Answers
Answer:
Explanation:
Annual depreciation=(cost-salvage value)/useful life
Annual depreciation =(156,000-1000)/20
Annual depreciation =$7750/year
Hence Depreciation for second year=$7750.
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:
Selling price
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative expense
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative expense
The total gross margin for the month under absorption costing is:
$
$
$
$
143
e
2,820
2,770
50
47
23
14
11
$95,880
$19,390
Answers
The total gross margin for the month under absorption costing is $16,120.
What is the total gross margin?Total variable cost per unit:
Direct materials cost per unit = $44Direct labor cost per unit = $19Variable manufacturing overhead per unit = $13Variable selling and administrative expenses per unit = $12Total variable cost per unit:
= Direct materials cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Variable selling and administrative expenses per unit
= $44 + $19 + $13 + $12
= $88
Total fixed costs:
Fixed manufacturing overhead = $85,260Fixed selling and administrative expenses = $16,440Total fixed costs:
Fixed manufacturing overhead + Fixed selling and administrative expenses
= $85,260 + $16,440
= $101,700
Total gross margin:
= (Selling price per unit - Total variable cost per unit) * Units sold - Total fixed costs
= ($131 - $88) * 2,740 - $101,700
= $43 * 2,740 - $101,700
= $117,820 - $101,700
= $16,120.
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Using the readings for this unit as a guide, discuss what you see as the role of ethics as it pertains to management and managers. Does management, in your view, help shape the values and ethics of an organization? What about an organization’s sustainability efforts and commitment? On whom does the responsibility to consider sustainability fall? Is employee behavior, ethical or not, a by-product of the organization's ethical climate? What ideally is the manager's role in helping to create and maintain organizational integrity?
Answers
Managers must be committed to making decisions in accordance with core values such as honesty, integrity, respect for others, taking responsibility for their actions and being accountable for them. To be an effective, ethical leader, managers must learn how to spot ethical issues in their organization.
Social responsibility is a business's duty to make ethical decisions that positively impact society. Organizations need to consider how their actions affect communities to create long-lasting trusting relationships. In order to be socially responsible, companies must strictly follow their codes of ethics.
define equity in accounting
Answers
Equity is equivalent to total assets minus entire liabilities. All of these figures can be found in the balance sheet of a business. The worth of a homeowner's home less any outstanding debt or liabilities would be their equity.
What is meant by accounting?The practice of recording a business's financial transactions is known as accounting. As part of the accounting process, these transactions are collated, reviewed, and reported to oversight agencies, regulatory authorities, and tax collection agencies.
Accounting for businesses, the public sector, governmental agencies, forensic investigations, etc are types of accounting.
Thus, Equity is equivalent to total assets minus entire liabilities.
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QUESTION 2 10 poir if an investment account gives 5% interest annually, how much equal annual deposits you have to make for 10 years starting year 1 to have a $271,384 at your account at the end of this investment
Answers
To accumulate $271,384 in 10 years with a 5% annual interest rate, you would need to make annual deposits of $166,599.50.
To calculate the annual deposits needed to accumulate $271,384 in 10 years with a 5% annual interest rate, we can use the formula for future value of an annuity:
FV = PMT x ((\((1 + r)^n - 1) / r)\)
where:
FV = future value of the investment
PMT = annual deposit amount
r = annual interest rate
n = number of periods
In this case, we know that FV = $271,384, r = 0.05 (5% expressed as a decimal), and n = 10 (10 years).
Substituting these values into the formula, we get:
$271,384 = PMT x (((1 + \(0.05)^10 - 1)\)/ 0.05)
Simplifying the equation, we get:
$271,384 = PMT x (1.6289)
Dividing both sides by 1.6289, we get:
PMT = $166,599.50
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If Rogers, Incorporated, has an equity multiplier of 1.55, total asset turnover of 1.90, and a profit margin of 6.5 percent, what is its ROE
Answers
Rogers, Incorporated ROE is 19.14%
What is return on equity?
Return on equity (ROE) is the measure of a company's net income divided by its shareholders' equity. ROE shows a corporation's profitability and how efficiently it generates those profits.
Return on equity(ROE) is computed as:
= Profit margin * Total asset turnover * Equity multiplier
Given that:
Profit margin = 6.5%
Total asset turnover = 1.90
Equity multiplier = 1.55
Then,
Return on equity(ROE)
= (1.55 * 1.9 * 0.065)
= 19.14%
Hence, Rogers Incorporated ROE is 19.14%
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In the circular flow diagram with government, what does the government provide directly to firms?
A. expenditures
B. factors of production
C. taxes
D. goods and services
Answers
In the circular flow diagram, the government provides goods and services directly to firms. The correct option is D.
In the circular flow diagram, the government provides goods and services directly to firms. This is represented by the flow of resources from the government sector to the business sector.
The government plays a significant role in the economy by providing public goods and services that are necessary for the functioning of the society as a whole.
Public goods include infrastructure projects like roads, bridges, and public utilities, as well as services such as defense, law enforcement, and education.
These goods and services are not typically provided by private firms, so the government steps in to ensure their provision.
By supplying goods and services directly to firms, the government facilitates the production process and supports the overall functioning of the economy.
This enables businesses to operate efficiently and effectively, contributing to economic growth and development.
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The City of Cambridge is concerned about the number of wild MIT students who will be partying on Halloween and wants to limit the number of parties in order to curb the costs of policing underage drinking and noise violations. The city has asked you to evaluate the welfare implications of policies they are considering. Think of price here as the amount of money party hosts will collect at the door from party-goers. The demand for parties is given by . The supply of parties is given by .
Find the equilibrium price and quantity in the market for Halloween parties.
Answers
Based on the demand and supply functions for the market for Halloween parties attended by MIT students, the equilibrium price is $100 and the quantity is 100.
What are the equilibrium price and quantity for Halloween parties?The equilibrium price and quantity can be found by equating supply and demand.
This gives:
Price = Quantity
Price = 300 - 2p
300 = 3 x Price
Price = 300 / 3
= $100
The quantity would also be 100 parties.
The rest of the question is:
Think of price here as the amount of money party hosts will collect at the door from party-goers. The demand for parties is given by Q =300−2p. The supply of parties is given by Q = p.
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The following options describe costs incurred by owners of a given business. Identify which would be considered a sunk cost for a firm that is considering exiting a market. a. the cost of two riding lawnmowers for Luke's Lawn Care b. the cost of taking two online photography classes by Philipe of Philipe's Photography Shop c. a new large billboard sign displaying "Shantel's Shoes" for Shantel's Shoe Shop d. fireworks for Frida's Fireworks Displays e. four wedding cakes for Carlos's Cakes Shop
Answers
A sunk cost for companies looking to exit the market is the new big billboard sign displaying "Shantel's Shoes" in the Shantel's Shoe Shop.
What is sunk cost?Sunk costs, also called retroactive costs, indicate investments that have already made and cannot be recovered.
Examples of corporate sunk costs include: Advertising expenses: When you promote a new product, that money is gone and you can't get it back. New product research. Labor costs. Installation of new software systems and working methods. Loss of reputation and business relationships.
How do you calculate sunk cost?To calculate the sunk cost of a replacement device, find the current new market price. Then try to find out how much the item is worth in its current state. This should be possible with a little online research. Determine sunk costs by subtracting the current value from the original price.
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