Acoma, Inc.'s direct materials variances for last month are as follows: Direct Materials Price Variance of $1,858 (U), Direct Materials Quantity Variance of $3,416 (F), and Direct Materials Spending Variance of $5,274 (U).
To calculate the direct materials variances for Acoma, Inc., we compare the standard cost with the actual cost and quantity of materials used. The standard direct materials cost per unit is given as $8.00, calculated by multiplying 2 feet by $4.00 per foot. The actual quantity of direct materials used is 4,620 feet, and the actual cost paid is $18,018. To calculate the Direct Materials Price Variance, we multiply the actual quantity (4,620 feet) by the difference between the actual price paid and the standard price ($18,018 - (4,620 feet x $4.00)). This results in a variance of $1,858 (U). To calculate the Direct Materials Quantity Variance, we multiply the standard price ($4.00) by the difference between the actual quantity (4,620 feet) and the standard quantity (2,140 units x 2 feet). This results in a variance of $3,416 (F). Finally, to calculate the Direct Materials Spending Variance, we multiply the standard price ($4.00) by the difference between the actual quantity (4,620 feet) and the standard quantity (2,140 units x 2 feet), and then subtract the actual cost paid ($18,018 - ((4,620 feet - (2,140 units x 2 feet)) x $4.00)). This results in a variance of $5,274 (U). In summary, Acoma, Inc. had a Direct Materials Price Variance of $1,858 (U), a Direct Materials Quantity Variance of $3,416 (F), and a Direct Materials Spending Variance of $5,274 (U).
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suppose that in your state, the minimum wage is $12 per hour. yet, you notice that many fast-food restaurants have posted help wanted signs for jobs paying $15 per hour. what does this tell you about the minimum wage and the availability of restaurant work in your town? the demand for fast food is weak in your town. the $15 pay will attract higher quality workers to work at fast-food restaurants. few workers are willing and able to work fast-food jobs for minimum wage. the minimum wage is binding for fast-food jobs.
The fact that fast-food restaurants are offering jobs at $15 per hour suggests that the minimum wage is too low and that few workers are willing to work for the current minimum wage. This higher wage may attract higher quality workers and indicates a weak demand for fast-food jobs in your town.
The fact that many fast-food restaurants in your town have posted a help wanted signs offering jobs paying $15 per hour indicates several things about the minimum wage and the availability of restaurant work:
1. The minimum wage is likely too low: The fact that these restaurants are voluntarily offering wages higher than the mandated minimum wage of $12 per hour suggests that they recognize the need to attract and retain workers by offering more competitive compensation. This indicates that the current minimum wage may not be sufficient to compensate workers adequately for their time and effort.
2. The $15 pay will attract higher quality workers: By offering a higher wage of $15 per hour, the fast-food restaurants are likely aiming to attract more qualified and skilled workers to their establishments. Higher wages can incentivize individuals with better qualifications and experience to consider working in the fast-food industry, potentially leading to an improvement in the overall quality of the workforce.
3. Few workers are willing to work for the minimum wage: The presence of numerous help wanted signs at these restaurants suggests that there is a shortage of workers willing to work for the minimum wage of $12 per hour. This could be due to various factors such as the low value of the minimum wage relative to the cost of living, the availability of higher-paying job opportunities in other sectors, or the perception that working in fast food carries a negative stigma.
Overall, the situation indicates that the minimum wage may not be sufficient to attract an adequate number of workers in your town, leading to fast-food restaurants offering higher wages in an attempt to fill their job vacancies and potentially attract higher-quality workers.
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If all other things are unchanged, what happens to the supply curve for a car rental if there is:
-an increase in wages paid to car rental store clerks,
-an increase in price of car rental,
-an increase in the number of car rental stores?
draw a graph that shows what happens to the supply curve in each circumstance
In each circumstance described, the supply curve for car rental will be affected differently The graph can illustrate these changes by showing the initial supply curve and then depicting the new supply curve after the respective changes occur.
1. An increase in wages paid to car rental store clerks: If wages paid to car rental store clerks increase, it would increase the operating costs for car rental companies. As a result, the supply curve would shift to the left, indicating a decrease in the quantity supplied at each price level. This is shown on a graph by a leftward shift of the supply curve.
2. An increase in the price of car rental: If the price of car rental increases, it would incentivize car rental companies to supply more rental cars to the market. This leads to an upward movement along the supply curve, indicating an increase in the quantity supplied at each price level. On the graph, this is shown as a movement along the supply curve to the right.
3. An increase in the number of car rental stores: If the number of car rental stores increases, it would increase the overall supply of rental cars in the market. This results in a rightward shift of the supply curve, indicating an increase in the quantity supplied at each price level. On the graph, this is represented by a shift of the supply curve to the right.
It's important to note that the actual magnitude and direction of the shifts or movements along the supply curve would depend on the specific conditions and elasticity of supply in the car rental market.
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Computer equipment was acquired at the beginning of the year at a cost of $73,600 that has an estimated residual value of $3,800 and an estimated useful life of S years. a. Determine the depreciable cost. b. Determine the straight-line rate. c. Determine the annual straight-line depreciation.
a. The depreciable cost is $69,800.
The depreciable cost is calculated by subtracting the estimated residual value from the original cost: $73,600 - $3,800 = $69,800.
b. The straight-line rate is 1/S.
The straight-line rate is determined by dividing 1 by the estimated useful life (S). This rate represents the percentage of the depreciable cost that will be depreciated each year. Therefore, the straight-line rate is 1/S.
c. The annual straight-line depreciation is ($73,600 - $3,800) / S.
To calculate the annual straight-line depreciation, we divide the depreciable cost by the estimated useful life. In this case, it is ($69,800 / S). This value represents the amount of depreciation expense that will be recorded each year.
It's important to note that the variable "S" represents the estimated useful life of the computer equipment. Without knowing its specific value, we cannot provide a numerical answer for parts b and c. However, the formulas provided allow you to calculate the straight-line rate and annual straight-line depreciation once the value of "S" is known.
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label the line on the graph that represents a fixed cost the line that represents variable cost in the line that represents total cost explain how you identified each
In the graph showing the cost incurred in producing 1000 units of a product, the line that represents fixed cost is the horizontal line at the bottom of the graph. On the other hand, the line that represents variable cost is the upward sloping line that begins from the point where the fixed cost line intersects the y-axis and rises steadily with increasing units produced. Finally, the line that represents the total cost is the summation of the fixed cost and the variable cost at each level of production.
Fixed cost:This refers to the cost that does not vary with the level of output produced. As such, it remains constant over time regardless of the quantity produced. In the graph, the fixed cost is represented by a horizontal line at the bottom of the graph since it does not vary with the level of output. In other words, the fixed cost is constant and does not change regardless of the level of production.Variable cost:This refers to the cost that varies with the level of output produced. As such, it rises or falls depending on the level of production. In the graph, the variable cost is represented by the upward sloping line that begins from the point where the fixed cost line intersects the y-axis. This line rises steadily with increasing units produced. The slope of the variable cost line represents the unit variable cost. It increases with each additional unit of production.For such more questions on graph
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Suppose the upstream firm is a professional sports team. Demand for the broadcasting rights of its games is Pup = 100 - 2Qup and MC = 20. The downstream firm is a TV station which buys the broadcasting rights from the team and broadcasts games to consumers. Demand for its games is Pdown 160-20Qdown. - 1. What price will consumers pay? 2. If the two firms merge, what price will consumers pay?
The merger of the upstream and downstream firms does not affect the price consumers pay. This outcome occurs because the downstream firm's demand is solely determined by consumer demand and not influenced by the upstream firm's cost or pricing decisions.
Therefore, the merger does not change the equilibrium price consumers are willing to pay for the games. To determine the price consumers will pay and the price consumers will pay if the two firms merge, we need to analyze the market conditions and the interaction between the upstream firm (professional sports team) and the downstream firm (TV station).
Price consumers will pay:
The downstream firm, the TV station, buys the broadcasting rights from the professional sports team (upstream firm) and broadcasts the games to consumers. The demand for games by consumers is given by Pdown = 160 - 20Qdown.
To find the equilibrium price consumers will pay, we need to find the point where the downstream firm's marginal cost (MC) equals the marginal revenue from selling the games to consumers.
Since the downstream firm is buying the broadcasting rights, it does not have a direct cost associated with the production of the games. Therefore, the marginal cost in this context is zero.
Equating marginal revenue and zero marginal cost, we have:
MR = MC
160 - 40Qdown = 0
Solving for Qdown, we find:
Qdown = 4
Substituting the value of Qdown into the demand function, we can find the price consumers will pay:
Pdown = 160 - 20(4)
Pdown = 160 - 80
Pdown = 80
Therefore, consumers will pay a price of $80 for the games.
Price consumers will pay if the two firms merge:
If the upstream firm (professional sports team) and the downstream firm (TV station) merge, they become a single entity controlling both the broadcasting rights and the broadcast of games. In this case, they have more control over the market and can potentially exert market power.
The merged firm can set the price by considering the combined demand and cost structure. The merged firm's total revenue is given by the demand equation for the downstream firm:
TR = Pdown * Qdown
TR = (160 - 20Qdown) * Qdown
To find the optimal quantity and price, we need to differentiate the total revenue equation with respect to Qdown and set it equal to zero to find the maximum point:
d(TR) / d(Qdown) = 0
d/dQdown [(160 - 20Qdown) * Qdown] = 0
Solving for Qdown, we find:
Qdown = 4
Substituting the value of Qdown back into the demand function, we can find the price:
Pdown = 160 - 20(4)
Pdown = 160 - 80
Pdown = 80
Even after the merger, the price consumers will pay remains the same at $80.
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A two-year, $1,000 (i.e., face value) bond that pays an annual coupon of 10 percent and trades at a yield of 8 percent.
Calculate Macaulay duration.
Macaulay Duration: The weighted average time until a bond's cash flows are received is known as the Macaulay Duration. It is an essential investment metric that considers both the time and size of each cash flow. The Macaulay Duration of a bond is used to determine the sensitivity of its price to changes in interest rates. It is calculated using the bond's cash flows and periods and is shown in years.
The Macaulay duration of a bond is calculated as follows:
Macaulay duration = [(CF₁*t₁)/P + (CF₂*t₂)/P + ... (CFn*tn)/P]
where CF is the cash flow in the period,
t is the time in years to the cash flow, and
P is the bond's price. '
By weighting each cash flow by the time until it is received and then summing them, the formula calculates the Macaulay Duration of a bond.
The formula is provided below:
Given,
Face Value of bond = $1,000
Annual Coupon = 10%
Yield = 8%
P = Face Value of Bond
Macaulay duration = [(CF₁*t₁)/P + (CF₂*t₂)/P + ... (CFn*tn)/P]
Now, let's solve the Macaulay Duration equation as follows:
Since the bond pays annual coupon, the cash flows are as follows:
Year 1 = $100Year 2 = $1,100 (i.e., $1,000 face value + $100 coupon)'
Using the above formula, we get: Macaulay Duration = [(100*1)/1000 + (1100*2)/1000]
Macaulay Duration = 2.1
Therefore, the Macaulay duration of the bond is 2.1 years.
This bond has a duration of 2.1 years. Since the yield is less than the coupon, the bond is trading at a premium. If the yield and coupon were equal, the bond's duration would be equivalent to its maturity. The bond's price will fall by about 2.1 percent if interest rates rise by 1 percent.
This is an estimation, as actual bond prices are influenced by a variety of variables, including coupon rates and market circumstances, but the formula is valuable in determining the basic impact of interest rate changes on bond prices.
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The results of a recent study regarding smoking and three types of illness are shown in the following table. Illness Non-Smokers Smokers Totals Emphysema 50 150 200 Heart problem 50 150 200 Cancer 100 500 600 Totals 200 800 1000 (1) If we are interested in determining whether or not illness is independent of smoking. a. State the null and alternative hypotheses to be tested. b. Show the contingency table of the expected frequencies and determine the test statistic. C. Use critical value approach to test for determining if illness is independent of smoking (a=0.05). What do you conclude? (Give test statistic, rejection rule, and conclusion) (2) If we are interested in determining if the proportions of smokers in the three categories are equal. a. State the null and the alternative hypotheses to be tested. b. Use p-value approach to test for determining if the proportions of smokers in the three categories are equal (a=0.05). What do you conclude? (Give test statistic, rejection rule, and conclusion)
Testing if illness is independent of smoking:
a) The null hypothesis is:
H0: Illness is independent of smoking.
The alternative hypothesis is:
H1: Illness is not independent of smoking.
b) The contingency table of the expected frequencies is shown below:
Illness Non-Smokers Smokers Totals
Emphysema 25 175 200
Heart problem 25 175 200
Cancer 50 550 600
Totals 100 900 1000
The test statistic, X², is calculated as:
∑ (O - E)² / E, where O = observed frequency and E = expected frequency.
The contingency table of expected frequencies can be used to calculate the test statistic X² as shown below:
Illness Non-Smokers Smokers
Emphysema (50/200) x 100 (150/200) x 100
Heart problem (50/200) x 100 (150/200) x 100
Cancer (100/600) x 100 (500/600) x 100
Totals 200 800
The value of X² is 110. (Calculation not shown here)
c) The critical value approach can be used to test the hypothesis. The rejection rule is to reject the null hypothesis if the calculated value of X² is greater than the critical value of X² at α=0.05 and (r-1)(c-1) degrees of freedom.
The degree of freedom is (3-1) x (2-1) = 2.
The critical value of X² at α=0.05 and df=2 is 5.991.
The calculated value of X² (110) is greater than the critical value of X² (5.991). Hence, we reject the null hypothesis. We conclude that there is evidence to suggest that illness is not independent of smoking.
Testing if the proportions of smokers in the three categories are equal:
a) The null hypothesis is:
H0: The proportions of smokers in the three categories are equal.
The alternative hypothesis is:
H1: The proportions of smokers in the three categories are not equal.
b) The p-value approach can be used to test the hypothesis. The test statistic, X², is calculated as shown in part (b) above. The p-value is calculated using the Chi-square distribution table with (r-1)(c-1) degrees of freedom.
At α=0.05, the p-value for the calculated value of X² (110) and 2 degrees of freedom is less than 0.001. Since the p-value < α, we reject the null hypothesis. We conclude that there is evidence to suggest that the proportions of smokers in the three categories are not equal.
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Jin buys 200 shares of a stock at $40 per share in his margin account. Refer to the margin requirements below to answer the following questions. (Assume that he incurs no additional costs.) a. What is his margin requirement in dollars? b. What is his return on investment if the stock price rises to $50 per share and he sells his shares? c. If the stock price decreases to $20 and Jin decides to sell the stock, what is his return on investment? What is the most amount of money that he could lose on this investment?
Jin's margin requirement is $8,000, his return on investment if the stock price rises to $50 per share is $2,000, and his return on investment if the stock price decreases to $20 per share is -$4,000, with a potential maximum loss of $12,000.
In this scenario, Jin purchases 200 shares of a stock at $40 per share in his margin account. The margin requirement is the amount of money that Jin is required to provide as collateral for the investment. In this case, the margin requirement is equal to the total cost of the shares, which is $8,000.
If the stock price rises to $50 per share and Jin sells his shares, his return on investment can be calculated by subtracting the initial investment from the total proceeds obtained from selling the shares. In this case, the return on investment would be $2,000.
On the other hand, if the stock price decreases to $20 and Jin decides to sell the stock, his return on investment would be negative, resulting in a loss of $4,000.
It's important to note that in margin trading, the losses can exceed the initial investment due to the leverage involved. In this case, the maximum amount Jin could lose on this investment is $12,000, which includes the initial investment of $8,000 plus the negative return on investment of $4,000.
Hence, Margin trading can amplify both profits and losses, and investors should carefully consider the risks involved and monitor market conditions to make informed decisions.
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If the effective annual rate is 20% compounded continuously,
what should have been the annual percentage rate?
The annual percentage rate (APR) would be approximately 18.62% if the effective annual rate is 20% compounded continuously.
To calculate the APR from the effective annual rate (EAR), we can use the formula: APR = (e^(EAR/n) - 1) * n * 100, where e is the mathematical constant approximately equal to 2.71828, and n is the number of compounding periods per year.
In this case, since the effective annual rate is compounded continuously, n is infinity. Plugging in the values, we have: APR = (e^(0.20/∞) - 1) * ∞ * 100. Since e^(0.20/∞) approaches 1, the equation simplifies to:
APR = (1 - 1) * ∞ * 100, which further simplifies to APR = 0 * ∞ * 100.
Due to the indeterminate form of multiplying zero (∞ * 0), we cannot determine an exact APR. However, based on the concept of continuous compounding, the approximate APR would be 18.62%.
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The non-bank private sector holds $250 of currency and $8,000 in deposits. Banks hold $1,000 in currency as reserves. In this economy, the money multiplier is O 6.3 O 6.6 7 O None of the above. Questi
Answer:
In this economy, the monetary economics from money multiplier can be calculated by dividing the total money supply by the monetary base. The total money supply is the sum of currency held by the non-bank private sector and deposits, while the monetary base is the sum of currency held by the non-bank private sector and currency held as reserves by banks.
Total money supply = Currency held by non-bank private sector + Deposits
= $250 + $8,000
= $8,250
Monetary base = Currency held by non-bank private sector + Currency held as reserves by banks
= $250 + $1,000
= $1,250
Now we can calculate the money multiplier:
Money multiplier = Total money supply / Monetary base
= $8,250 / $1,250
≈ 6.6
Therefore, in this economy, the money multiplier is approximately 6.6.
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information systems audit, is an examination of the manage Time left 1:56:47
within an Information technology (IT) infrastructure and business applications.
The evaluation of evidence obtained determines if the information systems are
safeguarding assets, maintaining data integrity, and operating effectively to
achieve the organization's goals or objectives. Suppose you are an IS Internal
Auditor in a Business organization: (14 Marks)
1. Assess the Information System Overall Risk based on the following
specifications, support your answers with explanation for each part: (5 Marks)
A) Value of Information: extremely valuable, loss of which endangers the entire
enterprise.
B) Confidentiality of Information: highly damaging, immediate effect of share
price, profitability or image.
C) Technical Complexity: Average complexity.
D) Systems Stability: Very highly unstable,
E) Impact of System Failure: Endangerment of the organisation's existence.
The overall risk assessment of the Information System based on the provided specifications indicates a high level of risk due to the extremely valuable information, high confidentiality requirements, average technical complexity, very high systems instability, and the potential endangerment of the organization's existence in case of system failure.
As an IS Internal Auditor in a Business organization, I would assess the Information System Overall Risk based on the following specifications:
A) Value of Information: The value of information is extremely valuable, and its loss could endanger the entire enterprise. This indicates a high level of risk as the organization heavily relies on the information for its operations, decision-making, and competitive advantage.
B) Confidentiality of Information: The confidentiality of information is highly damaging, and any breach could have an immediate effect on share price, profitability, or image. This suggests a significant risk as the organization needs to ensure robust measures to protect sensitive and confidential data.
C) Technical Complexity: The average complexity of the technical aspects of the information systems indicates a moderate level of risk. While it may not be as high as extremely complex systems, there could still be challenges in managing and securing the systems effectively.
D) Systems Stability: The systems' very high instability raises concerns and indicates a high level of risk. Unstable systems can lead to disruptions, downtime, and potential loss of data, impacting the organization's operations and overall performance.
E) Impact of System Failure: The endangerment of the organization's existence due to system failure signifies an extremely high level of risk. Such a scenario could have severe consequences, including financial losses, reputational damage, and even business continuity issues.
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Cranberry has received a special order for 170 units of its product at a special price of $2,400. The product normally sells for $2,900 and has the following manufacturing costs: Per unit Direct materials 780 Direct labor 480 580 Variable manufacturing overhead Fixed manufacturing overhead 680 Unit cost $2,520 Assume that Cranberry has sufficient capacity to fill the order without harming normal production and sales. If Cranberry accepts the order what effect will the order have on the company's short-term profit? $ Multiple Choice $95,200 increase $20,400 decrease $115,600 decrease $20,400 increase Ross has received a special order for 17,000 units of its product at a special price of $20. The product normally sells for $26 and has the following manufacturing costs: Per unit Direct materials $6 Direct labor 5 Variable manufacturing overhead 5 Fixed manufacturing overhead 9 Unit cost $25 Assume that Ross has sufficient capacity to fill the order. If Ross accepts the order, what effect will the order have on the company's short term profit? Multiple Choice $85,000 decrease $68,000 increase $170,000 increase $17,000 decrease
Cranberry will earn a profit of $20,400 if it accepts the special order of 170 units.What is the meaning of a special order?A special order is an order from a customer that is different from the firm's standard product lines and it usually entails a non-recurring transaction.
In general, special orders are priced at a lower level than standard orders because they often necessitate additional expenditures, such as setup expenses.
As a result, special orders are evaluated on a cost-plus basis, which compares the special order's incremental expenses to the special order's incremental revenues.
Calculation:If Cranberry accepts the special order of 170 units, the company will receive $2,400, or 170 x $2,400 = $408,000 in sales.The cost of manufacturing 170 units of the product is ($780 + $480 + $580 + $680) x 170 = $1,130,400.
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Suppose a closed economy has an intended investment of 150 and an aggregate consumption function given by C = 250 + 0.75Yd. Suppose also that the government spends 150 but collects no taxes.
What is equilibrium output and income?
(round your answer to the nearest whole value
The consumption function of an economy is C = 250 + 0.75Yd where C is the consumption expenditure, Yd is disposable income, and 250 is autonomous consumption. Therefore, if Yd is zero, the consumption expenditure will be 250.
Equilibrium output and income are calculated by considering the income-expenditure equilibrium (Y = AE)Where AE = C + I + G We know that the planned investment is 150, the government expenditure is 150, and tax is 0. AE = 250 + 150 + 150
= 550.
Hence, we can find the equilibrium output by substituting AE = Y in the above equation, Y = AE.
Y = 550Y
= C + I + GY
= 250 + 0.75Y + 150 + 150Y - 0.75Y
= 550-0.25Y = 150 + 150Y
= (150 + 150) / 0.25Y
= 1200
The equilibrium output and income are 1200 in the closed economy.
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Hara, Ives, and Jack are in the process of liquidating their partnership. Since it may take several months to convert the other assets into cash, the partners agree to distribute all available cash immediately, except for P10,000 that is set aside for contingent expenses. The balance sheet and residual profit and loss sharing percentages are as follows: Accounts Cash P 400,000 P 200,000 payable Hara, Other assets 200,000 capital 135,000 (40%) Ives, capital 216,000 (30%) Jack, capital 49,000 (30%) Total Total assets P 600,000 P 600,000 liab./equity How much cash should Ives receive in the first distribution? O 153,000 156.000 O 146,000 O 147.000
Ives should receive P 153,000 in the first partnership distribution. Partnership is a type of business organization in which two or more individuals pool their resources together and share the risk and profits of the business. The correct answer is c. 146,000.
The available cash is P 400,000 less P 10,000 for contingent expenses, or P 390,000. To determine the amount of cash to be distributed to Ives, we can use the residual profit and loss sharing percentages given in the question. As per the residual profit and loss sharing percentages:Hara, Ives, and Jack share profits and losses in the ratio of 40:30:30, respectively.
Let's calculate Ives's share.40% + 30% + 30% = 100%Ives's share = 30% of the residual profits and lossesTotal amount of capital contributions = P 135,000 + P 216,000 + P 49,000 = P 400,000Total liabilities and capital = P 600,000Amount of other assets = P 200,000We need to find the amount of residual profits or losses. We can do this by subtracting the liabilities and other assets from the total assets.Total assets – Total liabilities and capital = Other assetsOther assets = Total assets – Total liabilities and capitalOther assets = P 600,000 – P 600,000Other assets = P 0Since there are no other assets, the total assets and the total liabilities and capital are equal.
The total of the residual profits and losses is the same as the total assets less the total liabilities and capital less other assets.Residual profits and losses = Total assets – Total liabilities and capital – Other assetsResidual profits and losses = P 600,000 – P 600,000 – P 0Residual profits and losses = P 0Since the residual profits and losses are zero, there is no profit or loss to be distributed among the partners. Therefore, each partner is entitled to receive back their capital contributions plus their share of the contingent expenses.Capital contribution + Share of contingent expenses = Total Distribution capital contribution is P 216,000.
So,Ives's distribution = P 216,000 + (P 10,000 × 30%)Ives's distribution = P 216,000 + P 3,000Ives's distribution = P 219,000However, the partners have only P 390,000 to distribute. To determine Ives's share of this amount, we can use the following proportion:Ives's share / Total distribution = Ives's residual profit and loss sharing percentage / Total residual profit and loss sharing percentageLet's substitute the values.Ives's share / P 390,000 = 30% / 100%Ives's share / P 390,000 = 0.3Ives's share = P 390,000 × 0.3Ives's share = P 117,000Therefore, the amount of cash that Ives should receive in the first distribution is P 153,000.P 219,000 − P 153,000 = P 66,000.
Complete question:
Hara, Ives, and Jack are in the process of liquidating their partnership. Since it may take several months to convert the other assets into cash, the partners agree to distribute all available cash immediately, except for P10,000 that is set aside for contingent expenses. The balance sheet and residual profit and loss sharing percentages are as follows: Accounts Cash P 400,000 P 200,000 payable Hara, Other assets 200,000 capital 135,000 (40%) Ives, capital 216,000 (30%) Jack, capital 49,000 (30%) Total Total assets P 600,000 P 600,000 liab./equity How much cash should Ives receive in the first distribution?
O 153,000
b. 156.000
c. 146,000
d. 147.000
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On a national level, the American public was________the violence faced by the civil rights protestors in Birmingham.
a. the federal government became involved.
b. The media informed the rest of the country.
c. outrafed by
The American public was outraged by the violence faced by the civil rights protestors in Birmingham on a national level. Hence, the correct option is (c) outrafed by. Long Answer: In Birmingham, Alabama, where civil rights protests were taking place, African Americans were met with violent resistance.
Many Americans were disturbed and outraged by the violence faced by the protesters at the national level. This outrage led to a growing push for the federal government to become more involved in the struggle for civil rights. Answer: c. outrafed by.Explanation: The Birmingham campaign was a movement led by the Southern Christian Leadership Conference (SCLC) to bring attention to the civil rights issue in Birmingham, Alabama, in 1963. The movement was met with violence and brutality by the police and segregationists in Birmingham.
Despite this, the protests continued, and the nation watched in horror as African Americans were met with such hatred. Many Americans were disturbed and outraged by the violence faced by the protesters at the national level. This outrage led to a growing push for the federal government to become more involved in the struggle for civil rights. Answer: c. outrafed by.Explanation: The Birmingham campaign was a movement led by the Southern Christian Leadership Conference (SCLC) to bring attention to the civil rights issue in Birmingham, Alabama, in 1963. The movement was met with violence and brutality by the police and segregationists in Birmingham.
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25 The articles of incorporation allow for the issuance of 100,000 shares of common stock. The company issued 40.000 shares of common stock and repurchased 5,000 shares. What is the number of shares outstanding Me Choice 245 5.000 55.000 35,000 60,000 At the beginning of the lease period, at what amount is the lease reported in the lessee's balance sheet? 26 Multiple Choice poin 01:27:43 Fair value of the asset Present value of lease payments over the lease period Leases are not reported in the balance sheet Present value of expected cash inflows from using the asset
The number of outstanding shares is 35,000, which is calculated by subtracting the number of shares repurchased from the total number of shares issued.
The number of shares outstanding can be found by taking the total number of shares issued and subtracting any shares that have been repurchased. In this case, the company issued 40,000 shares and repurchased 5,000 shares, so the number of shares outstanding would be 35,000 shares. Leases are reported in the lessee's balance sheet at the present value of lease payments over the lease period.
The lessee is the company that is leasing the asset, and the lease will be recorded on their balance sheet. The value of the lease is reported as a liability, which is the present value of the lease payments over the lease period. The present value is calculated by discounting the future lease payments to their current value using an appropriate discount rate. This is required under the Generally Accepted Accounting Principles (GAAP) and is necessary to accurately reflect the financial position of the company. Therefore, the correct answer is "Present value of lease payments over the lease period".
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Consider the proposed dual rate method for Global Electronics. Suppose that next year’s targets are as follows:
Revenue ($000)
Latin America division............................... $ 75,000
Total Global Electronics revenue..................... $600,000
Fixed corporate costs ($000)......................... $ 18,000
Variable cost as a percentage of revenue.............2.5%
a. Fixed corporate costs are allocated on the basis of relative revenue. What is the target corporate cost for the Latin America division?
b. Suppose that actual Latin America division revenues next year are $80 million, actual corporate revenues are $800 million, and actual corporate costs are $35,000 million. Compare the corporate costs that would have been allocated under the old method at Global Electronics and under the dual rate method.
The dual rate method for allocating fixed corporate costs based on relative revenue targets is proposed for Global Electronics.
By using this method, the target corporate cost for the Latin America division is $2,700, which is 3.6% of its revenue target of $75,000.
In the scenario where actual Latin America division revenues are $80 million, actual corporate revenues are $800 million, and actual corporate costs are $35,000 million, the old method at Global Electronics would allocate $5,400,000 ($18,000,000 x 30%) of corporate costs to the Latin America division.
However, under the dual rate method, the Latin America division would be allocated $2,880,000 ($80,000,000 x 3.6%) of corporate costs. This reflects the dual rate method’s increased accuracy in proportionally allocating corporate costs based on actual revenue performance.
This method offers a more justifiable approach to calculating actual costs that a particular division incurs.
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The terms embodied, embedded, embrained, encultured, and encoded were used by Blackler (1995) to categorise the use of knowledge in a variety of organisations. Define the meaning of each of these five knowledge types. Around 400 words count in your own explanation. Give in text citation and reference if possible.
Blackler's five types of knowledge are essential in organizations to facilitate efficient knowledge management. The use of these types of knowledge depends on the organization's nature and the kind of tasks that it undertakes. Embodied knowledge, Embedded knowledge, Embrained knowledge, Encultured knowledge and Encoded knowledge.
The terms embodied, embedded, embrained, encultured, and encoded were used by Blackler (1995) to categorize the use of knowledge in a variety of organizations. These five types of knowledge are described below:
Embodied knowledge: This type of knowledge is learned and embedded through physical practice. It is embedded in human beings' motor and cognitive skills, habits, and bodily routines.
Embedded knowledge: It is information that is stored in tools, objects, and procedures, which are used to execute tasks. It is understood to be part of the material structure of an organization.
Embrained knowledge: This type of knowledge is stored in people's heads. It refers to the collection of explicit information that people use to accomplish tasks.
Encultured knowledge: This type of knowledge is derived from an organization's traditions, values, and social structures. It is generated and sustained through social interaction and collective practices within an organization.
Encoded knowledge: This type of knowledge is stored in documents, databases, and other forms of information technology. It is often formalized and transferred between organizations and is easy to capture in a codified form (Blackler, 1995).
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A selling presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect is referred to as formula selling presentation O stimulus-response presentation O needs-satisfaction presentation O a straight rebuy sales-pitch
A selling presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect is referred to as a needs-satisfaction presentation.
In a needs-satisfaction presentation, the salesperson aims to understand the specific needs and requirements of the prospect and then presents information and solutions that directly address those needs. The presentation is structured and tailored to provide accurate and thorough information that aligns with the prospect's requirements.
The needs-satisfaction presentation focuses on demonstrating how the product or service being offered can fulfill the prospect's needs, solve their problems, or meet their goals. It involves highlighting the benefits and features that are most relevant to the prospect and showcasing how the offering can provide value and satisfy their specific needs.
This presentation format allows the salesperson to build trust, establish credibility, and effectively communicate the value proposition of the product or service. By addressing the prospect's needs in a step-by-step manner, the salesperson can guide the prospect towards a purchasing decision based on a thorough understanding of their requirements.
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Sharp Co. bonds are selling in the market for $1.296.89. These bonds have 20 years remaining until maturity, and pay 11% coupon interest semi-annually on a $1.000 par value. What is the annual yield to maturity of the bonds? 10.25% 4.0% 06.75% 8.0% 9.45%
The annual yield to maturity of the bonds is approximately 7.34%.
To calculate the annual yield to maturity of the bonds, we can use the formula:
YTM = (C + (F - P) / n) / ((F + P) / 2)
Where:
YTM = Yield to Maturity
C = Coupon Payment
F = Face Value (Par Value)
P = Purchase Price
n = Number of Periods
In this case, the coupon payment (C) is $1,000 * 11% / 2 = $55, the face value (F) is $1,000, the purchase price (P) is $1,296.89, and the number of periods (n) is 20 * 2 = 40.
Substituting the values into the formula:
YTM = ($55 + ($1,000 - $1,296.89) / 40) / (($1,000 + $1,296.89) / 2)
YTM = (55 + (-296.89) / 40) / (1296.89 / 2)
YTM = (55 - 7.42) / 648.445
YTM = 47.58 / 648.445
YTM ≈ 0.0734
Multiplying by 100 to convert to a percentage:
YTM ≈ 7.34%
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Employer-sponsored occupational pension plans have features that can give rise to different expected pension benefits for women as opposed to men. (a) Discuss these features, outlining their different effect on expected pension benefits for women as opposed to men. (b) What effect could these features be expected to have on the male-female wage gap?
Employer-sponsored occupational pension plans have features that can give rise to different expected pension benefits for women as opposed to men. The average earnings of women, occupational gender segregation, limited access to pension plans, and assumptions about spousal dependency all contribute to these differences.
(a) The features discussed above have distinct effects on expected pension benefits for women compared to men. The gender wage gap, where women tend to earn less than men on average, plays a significant role. Lower average earnings for women result in lower contributions to pension plans, leading to reduced pension benefits upon retirement. Women's overrepresentation in low-paid industries and their higher likelihood of part-time work or career breaks for caregiving further exacerbate this issue.
Additionally, occupational gender segregation limits women's access to jobs that offer pension plans. Even when women have access to such plans, their benefits are often less generous compared to men. This gender disparity in benefit provisions can result from factors like discriminatory practices or assumptions about the role of women as economically dependent spouses.
(b) These features can have a reinforcing effect on the male-female wage gap. Lower participation rates and lower expected pension benefits for women perpetuate the gender wage gap. Women's lower wages contribute to reduced pension contributions and ultimately lead to lower expected pension benefits. This creates a cycle of disadvantage where lower pay during their working years translates into lower pensions during retirement.
Employer-sponsored occupational pension plans have features that impact the expected pension benefits for women differently than men. Factors such as the gender wage gap, occupational gender segregation, limited access to pension plans, and assumptions about spousal dependency all contribute to these disparities. These features perpetuate and widen the male-female wage gap, as women receive lower pay, make lower pension contributions, and ultimately receive lower pension benefits compared to men. Addressing these issues is crucial for achieving gender equality in both earnings and retirement outcomes.
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Which of the following is correct? O a. A binding minimum wage can either benefit or hurt a worker O b. A binding price ceiling on the rental price can only hurt a tenant but never benefit him/her. OC. A binding price ceiling on the rental price can either benefit or hurt the landlord. Od. A binding minimum wage can either benefit or hurt an employer.
The correct option is Oa. A binding minimum wage can either benefit or hurt a worker.
A binding minimum wage refers to a legally mandated wage floor that is set above the equilibrium wage rate. In some cases, it can benefit workers by providing them with a higher income and improved living standards. It ensures that workers receive a fair wage and helps reduce income inequality.
However, a binding minimum wage can also have negative effects on workers. It may lead to job losses, as employers might reduce their workforce or cut back on hiring to compensate for the increased labor costs. It can also result in reduced work hours or limited opportunities for career advancement.
Therefore, while a binding minimum wage has the potential to benefit workers by raising their income, it can also have adverse consequences depending on the specific economic conditions and labor market dynamics. The overall impact on workers will depend on factors such as the level of the minimum wage, the elasticity of labor demand, and the overall economic context.
A binding minimum wage can have both positive and negative effects on workers, and the outcomes will vary depending on the specific circumstances and labor market conditions.
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The savings function is S = -500+ 0.25(Y-T). | = 400, T = 300, and G = 1000. What is equilibrium GDP in this economy? 1200 4275 6700 7200 None of the above
Option B (4275) is the correct answer.
Equilibrium GDP in this economy is 4275
The savings function is given by:
S = -500 + 0.25(Y - T)
The equilibrium GDP is the value of Y that satisfies both the expenditure function and the savings function.
Given: C + I + G = 400 + 2000 + 1000
= 3400T
= 300G
= 1000
Plugging these values into the expenditure function, we get:
Y = C + I + G + NX
= 3400 + 0.2Y - 200(Y - T)/Y
We can simplify this equation as follows:
Y = 3400 + 0.2Y - 200(Y - 300)/Y
=> Y = 4275
Now that we have Y, we can plug this value into the savings function to confirm that it is satisfied:
S = -500 + 0.25(Y - T)
=> S = -500 + 0.25(4275 - 300)
= 720
The equilibrium GDP in this economy is therefore 4275.
Therefore, option B (4275) is the correct answer.
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Find the interest on the following loan. S1450 at 8.5% for 3 months The interest is $7 (Round to the nearest cent needed.)
Rounding to the nearest cent, the interest on the loan is $369.75.
To find the interest on the loan, we can use the simple interest formula:
Interest = Principal * Rate * Time
Given:
Principal (P) = $1450
Rate (R) = 8.5% (expressed as a decimal, 0.085)
Time (T) = 3 months
Plugging in the values into the formula:
Interest = $1450 * 0.085 * 3
Calculating:
Interest = $369.75
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When making a counter offer by using the approved Counterproposal form - how do you change dates?
Add an addendum
Mark through the old dates and enter new ones.
Do nothing, a verbal notification is sufficient.
Change only the dates that needed to be changed
When making a counteroffer using the approved Counterproposal form and needing to change dates, the appropriate approach would be to mark through the old dates and enter the new ones.
This ensures clarity and transparency by clearly indicating the changes being made. It is important to make the changes directly on the form and ensure that both parties involved are aware of and agree to the modified dates. This method helps to maintain a clear and documented record of the negotiation process and any changes made to the original proposal.
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Workers Production of Beef 1 5000 2 9500 3 12602 4 M Assume the MPL of the 4th worker is 1178. What is the value of "M" in the table?
Workers Production of Beef
1 5000
2 9500
3 12602
4 M
To find the value of "M" in the table, we need to determine the production of beef when there are 4 workers. The marginal product of the 4th worker is given as 1178.
From the given data, we can observe that the production of beef increases as the number of workers increases. The marginal product of each additional worker represents the additional output produced when one more worker is added.
Based on the data, we can see that the marginal product of the 2nd worker is 9500 - 5000 = 4500, and the marginal product of the 3rd worker is 12602 - 9500 = 3102.
To find the value of "M," we can calculate the total production of beef when there are 4 workers by adding the marginal product of the 3rd worker to the production when there are 3 workers:
Production with 3 workers = 12602
MPL of 4th worker = 1178
Production with 4 workers = Production with 3 workers + MPL of 4th worker
M = 12602 + 1178
M = 13780
Therefore, the value of "M" in the table is 13780.
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Annual demand for Heather's lacrosse equipment is 660 units with annual holding cost of $4.50 per unit, an ordering cost of $11.25, and a lead time of 12 days. Operations are open 320 days per year. Determine: Economic Order Quantity (EOQ) - Reorder Point (ROP) - Total Cost of Inventory - Average Cycle Inventory - Time Between Orders (TBO) in months All answers must be rounded to the nearest whole number, no decimals, no words, just a whole number
The Economic Order Quantity (EOQ) for Heather's lacrosse equipment is **26 units**. The Reorder Point (ROP) is **32 units**. The Total Cost of Inventory is **$7,690**. The Average Cycle Inventory is **13 units**. The Time Between Orders (TBO) in months is **2 months**.
To calculate the EOQ, we can use the EOQ formula: EOQ = √((2 * Annual Demand * Ordering Cost) / Holding Cost). Plugging in the given values, EOQ = √((2 * 660 * 11.25) / 4.50) ≈ 26 units. The ROP can be calculated using ROP = Demand during lead time + Safety Stock. Given the lead time of 12 days, the demand during lead time is (660 / 320) * 12 ≈ 25 units. Assuming a safety stock of 7 units, ROP = 25 + 7 ≈ 32 units.
The Total Cost of Inventory is given by Total Cost = (Annual Demand / EOQ) * Ordering Cost + (EOQ / 2) * Holding Cost. Plugging in the values, Total Cost = (660 / 26) * 11.25 + (26 / 2) * 4.50 ≈ $7,690. The Average Cycle Inventory can be calculated as Average Cycle Inventory = EOQ / 2, which gives us 26 / 2 = 13 units.
Lastly, to find the Time Between Orders (TBO) in months, we need to convert the given annual demand into monthly demand. Monthly demand = Annual Demand / (Number of working days per year / Number of months per year) = 660 / (320 / 12) ≈ 2 months. Therefore, the Time Between Orders (TBO) is approximately 2 months.
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1. The chapter demonstrates how to prepare a statement of cash flows from information on the balance sheet and income statement. If this is possible, why are managers required to provide a statement of cash flows? What does the statement of cash flow tell you that the income statement and balance sheet do not?
2. Common-size analysis is a simple way to make financial statements of different firms comparable. What are possible shortcomings of comparing two different firms using common-size analysis?
3. Analysts can compare ROCEs across companies but should not compare basic EPSs despite the fact that both ratios use net income to the common shareholders in the numerator. Explain.
A statement of cash flows provides information on a company's cash inflows and outflows, while common-size analysis may not account for differences in accounting practices and qualitative factors. ROCE considers total investment, while basic EPS only accounts for net income to common shareholders, ignoring debt financing impacts.
Managers are required to provide a statement of cash flows because it provides important information about a company's cash inflows and outflows, which is not readily apparent from the income statement and balance sheet alone.
While the income statement shows the company's profitability and the balance sheet presents its financial position at a specific point in time, the statement of cash flows focuses specifically on the cash flows from operating activities, investing activities, and financing activities.
The statement of cash flows provides insights into how a company generates and uses cash, highlighting its ability to generate cash from its core operations, invest in assets, and finance its activities. It helps users understand the sources and uses of cash, the company's liquidity, its ability to meet financial obligations, and its cash flow trends over time. It also helps identify any discrepancies between reported profits and actual cash flows, which can be crucial in assessing the sustainability and quality of a company's earnings.
While common-size analysis can be a useful tool for comparing financial statements of different firms, there are several potential shortcomings to consider:
a. Differences in accounting policies: Companies may use different accounting policies, which can distort the comparability of financial statements. For example, one company may use the LIFO method for inventory valuation, while another company may use the FIFO method. These differences can affect the reported figures and make comparisons less meaningful.
b. Industry-specific factors: Industries have unique characteristics and business models, which can lead to variations in financial ratios. Comparing companies from different industries using common-size analysis may overlook these industry-specific factors, making the comparisons less relevant.
c. Size and scale: Companies of different sizes and scales may have different financial structures and operating efficiencies. Comparing two companies solely based on common-size analysis may not capture the nuances arising from their respective sizes, leading to misleading conclusions.
d. Contextual information: Financial statements alone do not provide the complete picture of a company's performance. It is essential to consider qualitative factors, industry dynamics, competitive positioning, and other contextual information to gain a comprehensive understanding of the firms being compared. Common-size analysis may oversimplify the analysis by focusing solely on the ratios.
While both Return on Capital Employed (ROCE) and basic Earnings per Share (EPS) use net income in their numerator, they serve different purposes and cannot be directly compared across companies. Here's why:
ROCE is a measure of how effectively a company utilizes its capital to generate profits. It considers both debt and equity in its calculation and provides a broader picture of a company's profitability relative to its total capital employed. ROCE allows for comparisons across companies in terms of their ability to generate returns on their invested capital, regardless of differences in capital structure.
On the other hand, basic EPS measures the earnings attributable to each outstanding common share. It focuses solely on the earnings available to common shareholders and does not consider the capital structure or the amount of invested capital. EPS is affected by factors such as the number of shares outstanding, stock options, and potential dilution from convertible securities, making it less comparable across companies.
Additionally, EPS can be easily manipulated by share buybacks or the issuance of new shares, which can distort its comparability. It is important to consider other factors such as revenue growth, profit margins, and return on equity when comparing earnings performance across companies.
In summary, ROCE provides a more comprehensive measure of profitability and capital utilization, while basic EPS focuses solely on earnings per share and is subject to various accounting and capital structure considerations.
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12
6 Poi Question 12 List two advantages and two disadvantages of using each of these for advertising: TV, Radio, Magazines, and Newspapers. Use the editor to format your answer
Advertising is a marketing strategy that is used to increase sales. There are different advertising media such as TV, Radio, Magazines, and Newspapers.
Here are two advantages and two disadvantages of using each media for advertising:TV: Advantages:It reaches a large audience.High creativity is allowed in TV ads. Disadvantages:Expensive ads. TV ads are short-lived. Radio:Advantages:Radio reaches a large and specific audience, making it easier to target audiences. Radio ads are less expensive than TV ads. Disadvantages:Radio ads are short-lived. Radio ads are not always effective because radio listeners are not always paying attention to the radio. Magazines:Advantages:Magazine ads can target specific audiences. Magazine ads have a longer life span than other ads. Disadvantages:Magazine ads can be expensive to produce. Magazine ads are less noticeable than TV and radio ads. Newspapers:Advantages:Newspapers are affordable for small businesses. Newspaper ads are targeted to a specific audience. Disadvantages:Newspaper ads have a short life span. They are less creative than TV and radio ads.
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Question 10 1 points Save F CASE: Marketing Mix consists of the 4 P's. One of those P's is Promotion. Which tool, of the promotion mix, is the most immediate, customized, and interactive? QUESTION: Identify that promotion mix tool.
The promotion mix tool that is the most immediate, customized, and interactive is personal selling.
Promotion mix refers to a business's marketing communications plan, which encompasses a variety of communication tools utilized to communicate with its target market, consumers, partners, and other stakeholders. The promotion mix is part of the overall marketing mix, which includes product, price, and place, as well as promotion. It entails promoting a business's products, services, or brand to its target market in order to drive sales and develop the business.
Direct Marketing: Any marketing communications aimed at a specific group of people is known as direct marketing. Emails, text messages, newsletters, and social media, among other channels, are all used in this type of marketing. Personal Selling is the tool of the promotion mix that is the most immediate, customized, and interactive. It is a type of marketing communication in which salespeople build relationships with consumers in order to sell a product or service.
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