Answers
Answer:
Please find the required diagram in the attached image
Explanation:
Only a change in the price of a good leads to a movement along the demand curve of that good. Also, only a change in the price of the good would lead to an increase or decrease in the quantity demanded of that good.
Other factors other than the change in the price of the good would lead to a shift of the demand curve. Some of those factors include :
1. a change in consumers' expectation
2. a change in the taste of consumers
3. a change in income
As a result of the study, there would be an increase in the demand for coffee. This would shift the demand curve to the right. As a result, there would an increase in equilibrium price and quantity
Related Questions
Assume each firm within an industry has similar operations and financial structures as the industry as a whole. Which one of these statements related to beta is correct given this assumption?
a. Industry betas are less reliable than firm betas.
b. Firms should use their own betas rather than the industry beta.
c. Betas should be computed on an annual basis.
d. The error in beta estimation for a single security exceeds the error for a portfolio of securities.
e. All firms in the industry will have the same beta.
Answers
Answer: D. The error in beta estimation for a single security exceeds the error for a portfolio of securities.
Explanation:
If each firm within an industry has identical operations and thesame financial structures as the industry as a whole, then the error in beta estimation for a single security exceeds the error for a portfolio of securities.
It should be noted that all the firms in the industry will not have the same beta. Also, betas should not be computed on an annual basis. Therefore, the correct option is D.
Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department:
Units: Beginning Inventory: 25,000 units, 100% complete as to materials and 55% complete as to conversion.
Units started and completed: 110,000.
Units completed and transferred out: 135,000.
Ending Inventory: 30,000 units, 100% complete as to materials and 30% complete as to conversion.
Costs:
Costs in beginning Work in Process - Direct Materials: $43,000.
Costs in beginning Work in Process - Conversion: $48,850.
Costs incurred in February - Direct Materials: $287,000.
Costs incurred in February - Conversion: $599,150.
Required:
Calculate the equivalent units of conversion.
a. 110,000
b. 140,000
c. 144,000
d. 130,250
e. 165,000
Answers
Solution :
UNITS TO ACCOUNT FOR :
[tex]\text{Beginning Work}[/tex] in Process units $ [tex]25,000[/tex]
[tex]\text{Add: Units Started}[/tex] in Process $ [tex]14,000[/tex]
Total Units to account for $ [tex]165,000[/tex]
UNITS TO BE ACCOUNTED FOR:
[tex]\text{Units completed}[/tex] and transferred out $ [tex]135,000[/tex]
[tex]\text{Ending Work}[/tex] in Process $ [tex]30,000[/tex]
[tex]\text{Total Units}[/tex] to be accounted for $ [tex]165,000[/tex]
[tex]\text{Equivalent units}[/tex]
Material cost Conversion
% of completion Units % of completion Units
[tex]\text{Units started}[/tex] [tex]100\%[/tex] $[tex]135,000[/tex] [tex]100\%[/tex] $[tex]135,000[/tex]
and completed.
[tex]\text{Ending Work}[/tex] in Process [tex]100\%[/tex] [tex]30,000[/tex] [tex]30\%[/tex] [tex]9000[/tex]
[tex]\text{Total equivalent units}[/tex] [tex]165,000[/tex] [tex]144,00[/tex]
Therefore, the equivalent units of conversion is [tex]144,000 \text{ units}.[/tex]
Pace Company has the following plan information available for 2019: Month Total Sales January $166,000 February $150,000 March $136,000 April $182,000 May $152,000 June $135,000 July $110,000 The normal pattern of cash collections on sales is 10% in the month of the sale, 50% in the month following the sale and 40% in the second month following the sale. The expected total cash collections for May should be
Answers
Answer:
the expected total cash collections for May is $160,600
Explanation:
The computation of the expected total cash collections for May is given below
= 10% of $152,000 + 50% of $182,000 + 40% of $136,000
= $15,200 + $91,000 + $54,400
= $160,600
Hence, the expected total cash collections for May is $160,600
The same should be considered
Which of the following relationships is NOT valid? A. When marginal cost is above average variable cost, AVC is rising. B. Rising marginal cost implies that average total cost is also rising. C. When marginal cost is below average total cost, the latter is falling. D. None of the above
Answers
Answer:
b
Explanation:
According to Laurent, managers in Sweden, Denmark, and Great Britain believe that employees should ________. A. adopt a collectivist mindset B. participate in problem solving C. be "fed" all the answers by their superiors D. not be involved in the decision-making process
Answers
Answer:
B. participate in problem solving
Explanation:
André Laurent published the Cross Cultural Puzzle of International Human Resource Management.
This citation looks at how managers in different cultures interact with their employees based on the prevalent sociological tendencies of the country.
People from different cultures tend to perceive communication differently when they interact in the workplace.
He found that employees for Sweden, Denmark, and Great Britain like to participate in problem solving.
On June 10, Pais Company purchased $9,000 of merchandise from MacGyver Company, on account, terms 3/10, n/30. Pais pays the freight costs of $400 on June 11. Goods totaling $600 are returned to MacGyver for credit on June 12. On June 19, Pais Company pays McGiver Company in full, less the purchase discount. Both companies use a perpetual inventory system. Journalize perpetual inventory entries. Instructions a. Prepare separate entries for each transaction on the books of Pais Company. b. Prepare separate entries for each transaction for MacGyver Company. The merchandise purchased by Pais on June 10 cost MacGyver $5,000, and the goods returned cost McGiver $310.
Answers
Solution :
Pais Company
June 10 Inventory 9000
Accounts payable 9000
June 11 Inventory 400
Cash 400
No entry 0
June 12 Accounts payable 600
Inventory 600
June 19 Accounts payable 8400
Inventory 252 = 8400 x 3%
Cash 8148
McGiver Company
June 10 Accounts Receivable 9000
Sales revenue 9000
Cost of goods sold 5000
Inventory 5000
June 12 Sales return and allowances 600
Accounts receivable 600
Inventory 310
Cost of goods 310
June 19 Cash 8148
Sales discount 252 =8400 x 3%
Account receivable 8400
You are an economist studying the small country of Mardodus. As you look at the data, you see Mardodus has experienced an influx of updated technology to its manufacturing plants, service industry and the medical field in the last three years. This change boosted the growth of the country’s productivity by 75%, yet you see that wages have been very slow to respond to this growth. As you begin to analyze the natural unemployment rate for this time frame, what do you most likely discover?
Answers
Answer: Natural rate of unemployment will decrease because the productivity growth in the short term has passed up wage growth.
Explanation:
The natural unemployment rate simply means the lowest unemployment rate where the inflation in the economy is stable.
Based on the information given in the question, if the natural unemployment rate for this time frame.is analyzed, the natural rate of unemployment will reduce due to the fact that the productivity growth in the short term has passed up wage growth.
Rizio Co. purchases a machine for $9,600, terms 2/10, n/60, FOB shipping point. Rizio paid within the discount period and took the $192 discount. Transportation costs of $217 were paid by Rizio. The machine required mounting and power connections costing $664. Another $313 is paid to assemble the machine and $40 of materials are used to get it into operation. During installation, the machine was damaged and $245 worth of repairs were made.
Required:
Compute the cost recorded for this machine.
Answers
Answer:
$10,642
Explanation:
Computation to determine the cost recorded for this machine.
Amount included in the cost of equipment
Invoice price of machine $9,600
Less: Discount (9600 x 2%) ($192)
Net purchase price $9,408
($9,600-$192)
Freight charges $217
Mounting and power connections $664
Assembly $313
Materials used in adjusting $40
Total cost to be recorded $10,642
Therefore the cost recorded for this machine is $10,642
The following data are available for product no. CK74, manufactured and sold by Ruby Corporation:
Maximum capacity with present facilities 11,000 units
Total fixed cost (per period) $ 851,400
Variable cost per unit $ 120.00
Sales price per unit $ 186.00
Required:
The number of units of CK74 that Ruby must sell to break- even is:________.
a. 12,900.
b. 4,577.
c. 7,095.
d. 6,050.
Answers
Answer:
Break-even point in units= 12,900
Explanation:
Giving the following information:
Total fixed cost (per period) $ 851,400
Variable cost per unit $ 120.00
Sales price per unit $ 186.00
To calculate the break-even point, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 851,400 / (186 - 120)
Break-even point in units= 12,900
Answer: 12900
Explanation:
From the information given, we'll first calculate the contribution per unit which will be:
= Selling price per unit - variable cost per unit
= $186 - $120
= $ 66
Then, the break even sales in units will be: = Fixed cost/Contribution per unit
= 851,400 / 66
= 12,900
Therefore, the breakeven is 12900
If a real estate license holder wants to assist a property owner by soliciting tenants, collecting rents, and being responsible for property maintenance, which specialization would the license holder likely choose?
Answers
Answer: Property management
Explanation:
Property management refers to the operation, oversight and the maintenance of real physical properties and real estate.
Since the real estate license holder wants to assist a property owner by soliciting tenants, collecting rents, and being responsible for property maintenance, the license holders should be specialized in property management.
Calculate the geometric average return earned by an investor over three years if she earned 6% in the first year of an investment, 12% in the second year and 10% in the third year. 9.36% 9.27% 9.30% 9.33%
Answers
Answer:
Calculate the geometric average return earned by an investor over three years if she earned 6% in the first year of an investment, 12% in the second year and 10% in the third year. 9.36% 9.27% 9.30% 9.33%
Explanation:
Calculate the geometric average return earned by an investor over three years if she earned 6% in the first year of an investment, 12% in the second year and 10% in the third year. 9.36% 9.27% 9.30% 9.33%
9.33% is the geometric average return earned by an investor over three years if she earned 6% in the first year of investment, 12% in the second year, and 10% in the third year. The correct option is D.
What is the geometric average return in finance?The formula for the geometric average return, also known as the geometric mean return, can be used to figure out the average rate of return on an investment that is compounded over a number of time periods. The geometric average return, to put it simply, accounts for compound interest over a number of periods.
Given
Return rate = 6%, 12%, and 10% respectively in years 1, 2, and 3.
The average rate of return = Sum of All year's return / Number of Years
= 6 + 12 + 10 / 3 = 9.33%
The geometric average return is 9.33%
Thus, the ideal selection is option D.
Learn more about the geometric average return here:
https://brainly.com/question/28562900
#SPJ5
The budget director of Feathered Friends Inc., with the assistance of the controller, treasurer, production manager, and sales manager, has gathered the following data for use in developing the budgeted income statement for December 2016:
Estimated sales for December:
Bird house 3,200 units at $50 per unit
Bird feeder 3,000 units at $70 per unit
Estimated inventories at December 1:
Direct materials:
Wood 200 ft.
Plastic 240 lbs.
Finished products:
Bird house 320 units at $27 per unit
Bird feeder 270 units at $40 per unit
Desired inventories at December 31:
Direct materials:
Wood 220 ft.
Plastic 200 lbs.
Finished products:
Bird house 290 units at $27 per unit
Bird feeder 250 units at $41 per unit
Direct materials used in production:
In manufacture of Bird House:
Wood 0.80 ft. per unit of product
Plastic 0.50 lb. per unit of product
In manufacture of Bird Feeder:
Wood 1.20 ft. per unit of product
Plastic 0.75 lb. per unit of product
Anticipated cost of purchases and beginning and ending inventory of direct materials:
Wood $7.00 per ft.
Plastic $1.00 per lb.
Direct labor requirements:
Bird House:
Fabrication Department 0.20 hr. at $16 per hr.
Assembly Department 0.30 hr. at $12 per hr.
Bird Feeder:
Fabrication Department 0.40 hr. at $16 per hr.
Assembly Department 0.35 hr. at $12 per hr.
Estimated factory overhead costs for December:
Indirect factory wages $75,000
Depreciation of plant and equipment 23,000
Power and light $6,000
Insurance and property tax 5,000
Estimated operating expenses for December:
Sales salaries expense $70,000
Advertising expense 18,000
Office salaries expense 21,000
Depreciation expense—office equipment 600
Telephone expense—selling 550
Telephone expense—administrative 250
Travel expense—selling 4,000
Office supplies expense 200
Miscellaneous administrative expense 400
Estimated other income and expense for December:
Interest revenue $200
Interest expense 122
Estimated tax rate: 30%
1. Prepare asales budget for December.
2. Prepare a production budget for December.
Answers
Answer:
1. Sales Budget:
Bird House 3,200 units * $50 per unit = $160,000
Bird feeder 3,000 units * $70 per unit = $210,000
Total Revenue = $370,000
Explanation:
2. Production Budget:
Bird House
Expected units to be sold = 3,200
Less: Desired ending finished goods = 290
Total Units to be produced = 3,490
Less: Beginning Units = 320
Units to be produced = 3,170
Bird Feeder
Expected units to be sold = 3,000
Less: Desired ending finished goods = 250
Total Units to be produced = 3,250
Less: Beginning Units = 270
Units to be produced = 2,980
Jamie is single. In 2020, she reported $108,000 of taxable income, including a long-term capital gain of $5,800. What is her gross tax liability
Answers
Answer:Jamie's gross tax liability is $19,572.50
Explanation:
Since Jamie is single with taxable income of $108,000 which includes $5,800 long term capital gain.
Therefore $102,200 (108,000 -5,800) will be taxed under normal tax rates and $5,800 would be under long term capital gain tax rate.
With regards the 2020 tax schedule, Since her ordinary income is $102,200, Jamie falls under 24% rate tax bracket under filing for single status.
qd
Tax liability on ordinary income =$14,382.50 plus 24% of any income you made above $84,200
14,382.50 + 0.24 (102,200 - 84,200)
14,382.50 + 0.24 x 18000
= 14,382.50 + 4,320
= $18,702.50
Also, according to her income, longterm capital gain tax applicable in 2020 is 15%
Tax on long term capital gain = 5,800 × 0.15
= $870
Jamie's gross tax liability is $18,702.50 + 870 = $19,572.50
Find the next year's net income for XYZ Inc. Next year, the sales grow by 25%. The current sales $300 million, and the current profit margin is 10% and you expect it to remain constant.
Answers
Answer: $37.5 million
Explanation:
The next year's net income for XYZ will be calculated as follows:
Current sales = $300 million
Current Profit margin = 10%
Sales Growth rate = 25%
The next year's sales will be:
= Current Year's Sales × (1 + Sales Growth rate)
= $300 million × (1 + 0.25)
= $300 million × 1.25
= $375 million
Next Year's Net Income will then be:
= $375 million × 10%
= $37.5 million
In its recent income statement, Smith Software Inc. reported paying $12 million in dividends to common shareholders, and in its year-end balance sheet, Smith reported $386 million of retained earnings. The previous year, its balance sheet showed $372 million of retained earnings. What was the firm's net income during the most recent year
Answers
Answer:
$26 million
Explanation:
Given the above information, net income
= Ending retained earnings - Beginning retained earnings + Dividend paid to shareholders
Ending retained earning = $386 million
Beginning retained earning = $372 million
Dividend paid to shareholders = $12 million
Then,
Net income earnings = $386 million - $372 million + $12 million
Net income earnings = $26 million
Therefore, the firm's net income during its most recent year is $26 million
A project manager has just assigned a team that comes from many countries, including Brazil, Japan, the United States, and Britain. What is her BEST tool for success?
Answers
Answer: Communication and well-developed people skills
Explanation:
Since the team comprises of workers who come from different countries, the best tool is the communication and well developed people skill.
These skills are vital when interacting and communicating with others. Since they're from different countries, communication skill is required to build a relationship with them, motivate them and achieve organizational goals.
Assume that the price of the sub sandwiches is $4 and the price of tacos is $2. When Harry's income is $14 he buys two Italian sub sandwiches and three tacos. The last column lists the values of the marginal utility per dollar for tacos when the price of tacos decreases to $1. Complete this statement: As a result of the change in price, the marginal utility of each taco Harry consumes increases and:__________
a. the substitution effect of the price change will cause Harry to buy more tacos if they are a normal good, and fewer tacos if they are an inferior good.
b. the substitution effect will cause Harry to buy another sub because his purchasing power has increased.
c. the substitution effect of the price change will cause Harry to buy more tacos and fewer subs.
d. the substitution effect will cause Harry to buy fewer tacos.
Answers
Answer:
c. the substitution effect of the price change will cause Harry to buy more tacos and fewer subs.
Explanation:
Since the price of tacos decreased, subs became relatively more expensive. The substitution effect occurs when a consumer (Harry in this case) changes his consumption habits because the price of the goods changes. In this case, tacos become cheaper, and therefore, Harry will obtain more utils per dollar.
A 5-year treasury bond with a coupon rate of 8% (paid semiannually) has a face value of $1,000. What is the semiannual coupon payment
Answers
Answer:
$40
Explanation:
Coupon payment = Face value * Coupon rate * 1/2
Coupon payment = $1,000 * 8% * 1/2
Coupon payment = $1,000 * 0.08 * 1/2
Coupon payment = $40
So, the semiannual coupon payment is $40.
Cyclical unemployment arises when:______.
a. the agriculture sector completes the cycle of planting, cultivating, and harvesting the nation's food supply.
b. labor unions strike for higher wages.
c. the business cycle enters an expansionary phase.
d. business activity in the macroeconomy declines.
Answers
Answer:
D
Explanation:
types of unemployment
structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition. Structural unemployment tends to be permanent.
The geologist lost his hob permanently due to increase in wages (polices)
Frictional unemployment: the period of time a person is unemployed from the period he leaves his current job and the time he gets another job. Eg. when a real estate agent who leaves a job in Texas and searches for a similar, higher-paying job in California.
Voluntary unemployment: e.g. worker at a fast-food restaurant who quits work and attends college.
Cyclical unemployment: it occurs as a result of fluctuations in the economy. Unemployment would be high in a downturn and low in a boom
What is implication for the Government in the tax policy ?
Answers
Answer:
ax policy is the choice by a government as to what taxes to levy, in what amounts, and on whom. It has both microeconomic and macroeconomic aspects. The macroeconomic aspects concern the overall quantity of taxes to collect, which can inversely affect the level of economic activity; this is one component of fiscal policy.
Explanation:
......
Answer:
To meet their expenses, government need income, called "revenue," which it raises through taxes. In our country, governments levy several different types of taxes on individuals and businesses. The Federal Government relies mainly on income taxes for its revenue. State governments depend on both income and sales taxes
Explanation:
In order to use moving averages to forecast a time series, the first step is to select the order k, the number of time series values to be included in the moving average.
a) true
b) false
Answers
Using the high-low method and the Millco data above, what is the approximate fixed cost component of the monthly maintenance costs? Group of answer choices
Answers
Millco Inc. manufactures electronic parts They are analyzing their monthly maintenance costs to determine the best way to budget these costs in the future. They have collected the following data for the last six months:
Months Machine Hours Maintenance Costs
January 30,000 $67,500
February 40,000 74,500
March 37,500 65,900
April 39,000 68,750
May 42,300 74,000
June 35,000 64,500
Answer:
Millco Inc.
The approximate fixed cost component of the monthly maintenance costs is:
$51,600.
Explanation:
a) Data and Calculations:
Months Machine Hours Maintenance Costs
January 30,000 $67,500
February 40,000 74,500
March 37,500 65,900
April 39,000 68,750
May 42,300 74,000
June 35,000 64,500
High-low:
May 42,300 $74,000 for highest
January 30,000 67,500 for lowest
Difference 12,300 $6,500
Variable costs = $0.53 ($6,500/12,300)
Using May, the total variable cost = 42,300 * $0.53 = $22,419
Fixed cost = $51,581 ($74,000 - $22,419)
or approximately $51,600
The following condensed balance sheet is for the partnership of Hardwick, Saunders, and Ferris, who share profits and losses in the ratio of 4:3:3, respectively:
Cash $83,000 Accounts payable $208,000
Other assets 765,000 Ferris, loan 44,000
Hardwick, loan 34,000 Hardwick, capital 280,000
Saunders, capital 180,000
Ferris, capital 170,000
Total assets $882,000 Total liabilities and capital $882,000
The partners decide to liquidate the partnership. Forty percent of the other assets are sold for $240,000. Prepare a proposed schedule of liquidation at this point in time.
Answers
Answer:
Here the answer is given as follows,
Consider a country in which most of the productive resources are collectively owned by the state. As this country moves toward a system of private property rights, we can expect economic growth to ________ due to a(n) ________ in productivity
Answers
Answer:
Increase ; Upward movement along
Explanation:
In simple words, The greater the range of intellectual interests the greater the motivation to labor, preserve, as well as reinvest, because the more efficient the economy's functioning will be. The more efficiently an economy runs, the further development it produces for any given pool of assets, resulting in upward motion of the productivity function.
Based on a predicted level of production and sales of 12,000 units, a company anticipates reporting operating income of $26,000 after deducting variable costs of $72,000 and fixed costs of $10,000. Based on this information, the budgeted amounts of fixed and variable costs for 15,000 units would be
Answers
Answer:
Fixed Cost = $10,000
Variable Costs = $90,000
Explanation:
Variable Cost per unit = $72,000 ÷ 12,000
= $6
Variable Costs at 15,000 units = $6 x 15,000
= $90,000
Fixed Cost (given) = $10,000
You are considering a stock that is expected to pay dividends during the next five years of $0.50, $0,52, $0,54, $0,56 and $0.58. You estimate that you can sell the stock for $100 at the end of five years. Your required rate of return is 15% and the stock is currently selling for $65. If you purchase the stock, what rate of return do you expect to earn
Answers
Answer:
9.7%
Explanation:
The rate of return can be determined using a financial calculator
Cash flow in year 0 = -65
Cash flow in year 1 = $0.50
Cash flow in year 2 = $0.52
Cash flow in year 3 = $0.54
Cash flow in year 4 = $0.56
Cash flow in year 5 = $0.58 + $100
Rate of return = 9.7%
To find the rate of return using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
At February 1, 2022, the balance in Wildhorse Co. supplies account was $3780. During February Wildhorse purchased supplies of $3240 and used supplies of $4320. At the end of February, the balance in the Supplies account should be
Answers
Answer: $2,700
Explanation:
The balance in Supplies account at the end of February can be calculated using the formula:
= Beginning balance + Supplies purchased in the month - Supplies used in the month
= 3,780 + 3,240 - 4,320
= $2,700
A company that sells multiple types of products has a selling price per composite unit of $150, variable cost per composite unit of $50 and total fixed costs of $25,000. The contribution margin per composite unit is $ .
Answers
Answer:
See below
Explanation:
With regards to the above information, the contribution margin is computed as seen below.
Contribution margin per composite unit = Selling price per composite unit - Variable cost per composite unit
= $150 - $50
= $100
Hence, the contribution margin per composite unit is $100
A(n) ______ cost requires a future outlay of cash and is relevant for current and future decision making. Multiple choice question. opportunity sunk historical out-of-pocket
Answers
Answer:
out-of-pocket
Explanation:
In Accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
Cost pool is simply the amount of money spent by a firm on a particular activity.
Generally, an activity-based costing uses numerous cost pools such as manufacturing cost or customer services and numerous cost drivers such as direct labor hours worked, number of changes used in engineering department, etc.
Generally, an out-of-pocket cost requires that an individual or business outlay their future cash-flow and it must be relevant for current and future decision making.
The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:
Answers
Answer: $160
Explanation:
Taxable income = Pretax income + (Non deductible expenses) - Deductible expenses
= Pretax income + Overweight fees + Depreciation expense - Depreciation in the tax return
= 195 + 5 + 70 - 110
= $160
