A static budget is a financial strategy that doesn't alter based on activity levels or results. It is usually created at the start of the budgetary period and does not take into account changes in activity levels.
A flexible budget, on the other hand, is made to change and adapt according to the actual level of activity reached throughout a budget period. It enables adjustments in revenues and expenses based on the volume or intensity of activity, giving costs and revenues a more realistic portrayal.
The difference between the planned and actual amounts of an activity or product is referred to as an activity variance. It gauges the divergence from the level of activity that was anticipated. Variances in activity can be computed.
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Pierre makes several changes to the headings of his report to make them more readable. Which of the following changes is a mistake?
A. He adjusts the headings on the same level so that they have the same placement on the page.
B. He copy edits the headings to make sure the ones on the same level are grammatically parallel.
C. He removes the text between some of the headings.
D. He makes sure each heading level has at least two headings.
E. He makes sure the format is the same for all headings on the same level.
The correct answer is C. He removes the text between some of the headings.
Explanation:
When making changes to the headings of a report to improve readability, it is generally not advisable to remove the text between some of the headings. The text between headings provides context and helps in organizing and structuring the content of the report.
The other options mentioned are generally considered good practices for improving the readability of headings:
A. Adjusting the headings on the same level so that they have the same placement on the page helps in maintaining consistency and visual coherence.
B. Copy editing the headings to ensure grammatical parallelism among headings on the same level helps in providing a consistent and professional presentation.
D. Ensuring that each heading level has at least two headings helps in creating a hierarchical structure and facilitates easy navigation through the report.
E. Making sure the format is the same for all headings on the same level (such as font size, style, and alignment) helps in maintaining visual consistency and readability.
Therefore, the mistake among the given options is C. Removing the text between some of the headings, as it can disrupt the flow and organization of the report.
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In 2019, Whitlock Industries has a deferred tax asset associated with product warranties of $238,000. They expect the asset to be reversed in 2020 and 2021. Whitlock’s tax accountants have heard that the corporate tax rate may increase by 1% in 2021. Why would Whitlock still use their current tax rate of 20% to calculate their deferred tax asset?a They always use the current tax rate to calculate deferred tax assets.b The new tax rate has not been passed into law yet.c Deferred tax assets are always calculated at 20% regardless of the company’s current tax rate.d Any changes to the deferred tax account based on a new tax rate must be recorded in the year the temporary difference reverses.
d. Any changes to the deferred tax account based on a new tax rate must be recorded in the year the temporary difference reverses.
Deferred tax assets are calculated based on the temporary differences between the accounting and tax treatment of certain items. These temporary differences will reverse in future periods. When a change in the tax rate is expected in a future period, it is not immediately applied to calculate the deferred tax asset. In this case, Whitlock Industries has a deferred tax asset associated with product warranties. The reversal of this asset is expected in 2020 and 2021. The current tax rate of 20% is used to calculate the deferred tax asset because any changes to the deferred tax account based on a new tax rate must be recorded in the year the temporary difference reverses.
Since the change in the tax rate is expected in 2021, it will only impact the calculation of the deferred tax asset for that year. Until then, Whitlock Industries will continue to use the current tax rate of 20% to calculate their deferred tax asset.
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Compute the missing amounts for the following table (Click the icon to view the table.) (2x) Compute the missing amounts. (Enter the contribution margin ratio to nearest percent, X%.) A B C Sale price per unit $ 1,400 $ Variable costs per unit - Total fixed costs 273,000 Target profit 630,000 Contribution margin per unit 700 Contribution margin ratio Required units to break even Required sales dollars to break even Required units to achieve target profit $ % 2.940 1,097,600 24,892,000 40% 2,500 1,250 1,562,500 325 % A pre 0 Sales price per unit Variable costs per unit Total fixed costs Target profit Contribution margin per unit Contribution margin ratio Required units to break even Required sales dollars to break even Required units to achieve target profit SA A 1,400 (a) 273,000 630,000 700 (b) (d) (e) B (1) 2,940 1,097,600 24,892,000 (g) 40% (h) (1) () $ C 2,500 1,250 (k) 1,562,500 (1) (m) 325 units (n) (0)
a) Variable costs per unit: $700 (Since the contribution margin per unit is given as $700, and the variable costs per unit is subtracted from the sale price per unit to obtain the contribution margin.)
b) Contribution margin ratio: 50% (To find the contribution margin ratio, we divide the contribution margin per unit by the sale price per unit and multiply by 100. In this case, (700 / 1,400) * 100 = 50%.)
c) Required units to break even: 390 units (To calculate the required units to break even, we divide the total fixed costs by the contribution margin per unit. In this case, 273,000 / 700 ≈ 390 units.)
d) Required sales dollars to break even: $546,000 (To find the required sales dollars to break even, we multiply the required units to break even by the sale price per unit. In this case, 390 * 1,400 = $546,000.)
e) Required units to achieve target profit: 900 units (To determine the required units to achieve the target profit, we add the target profit to the total fixed costs and then divide by the contribution margin per unit. In this case, (273,000 + 630,000) / 700 = 900 units.)
The contribution margin ratio is 50%, meaning that 50% of the sale price per unit contributes towards covering the fixed costs and generating profit. The higher the contribution margin ratio, the more revenue is available to cover fixed costs and contribute to profit. In this case, for every dollar of sale, 50 cents goes towards covering fixed costs and generating profit.
To break even, the company needs to sell 390 units at a sale price of $1,400 per unit, generating $546,000 in sales revenue. To achieve the target profit of $630,000, the company needs to sell 900 units.
It's important for a company to analyze its contribution margin ratio and break-even point to understand the profitability of its operations and make informed decisions regarding pricing, cost control, and profit targets.
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Sales Cost of goods sold Accounts receivable $ 784,123 $ 469,415 $ 369,618 $ 258,474 $ 187,300 361,553 241,202 191,955 133,722 95,523 34,009 27,367 25,282 15,172 12,868 Compute trend percents for the above accounts, using 2013 as the base year. Trend Percent for Net Sales: Choose Numerator: 1 1 7 1 1 2017: 2016: 2015: 2014: Choose Denominator: " Sales % % % % Help 34 Save & Exit Exam 5, Chapters 11 and 13: 20 12 points https://ezto.mheducation.com/ext/map/index.html?_con-con&external browser=0&launchUrl=https A Saved Trend Percent for Cost of Goods Sold: Choose Denominator: Choose Numerator: Cost of goods sold % = % 7 = Trend Percent for Accounts Receivables: Choose Numerator: Choose Denominator: *Accounts receivable = % % 0241.44 2017: 2016: 2015: 2014: 2017: 2016: 2015: 2014: B % % Help Save & Exit 0 Submit
To calculate the trend percentages for net sales, cost of goods sold, and accounts receivable, we need to compare the values to the base year, which is 2013.
Trend Percent for Net Sales:
Numerator: 2017 Sales - 2013 Sales = $784,123 - $369,618 = $414,505
Denominator: 2013 Sales = $369,618
Trend Percent = (Numerator / Denominator) * 100 = ($414,505 / $369,618) * 100 ≈ 112.23%
Trend Percent for Cost of Goods Sold:
Numerator: 2017 Cost of Goods Sold - 2013 Cost of Goods Sold = $469,415 - $258,474 = $210,941
Denominator: 2013 Cost of Goods Sold = $258,474
Trend Percent = (Numerator / Denominator) * 100 = ($210,941 / $258,474) * 100 ≈ 81.60%
Trend Percent for Accounts Receivable:
Numerator: 2017 Accounts Receivable - 2013 Accounts Receivable = $361,553 - $187,300 = $174,253
Denominator: 2013 Accounts Receivable = $187,300
Trend Percent = (Numerator / Denominator) * 100 = ($174,253 / $187,300) * 100 ≈ 93.04%
Therefore, the trend percentages for net sales, cost of goods sold, and accounts receivable are approximately 112.23%, 81.60%, and 93.04% respectively, using 2013 as the base year.
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Morganton Company makes one product and it provided the following information to help prepare the master budget: a. The budgeted selling price per unit is $70. Budgeted unit sales for June July August, and September are 9,400. 25,000, 27000, and 28,000 units, respectively. All sales are on credit. b. Thirty percent of credit sales are collected in the month of the sale and 70% in the following month. c. The ending finished goods inventory equals 20% of the following month's unit sales. d. The ending raw materials inventory equals 10% of the following month's raw materials production needs. Each unit of finished goods requires 4 pounds of raw materials. The raw materials cost $2.50 per pound. e. Twenty percent of raw materials purchases are paid for in the month of purchase and 80% in the following month 1. The direct labor wage rate is $15 per hour. Each unit of finished goods requires two direct lobor-hours. 9. The variable selling and administrative expense per unit sold is $2.00. The fixed selling and administrative expense per month is $64.000 4 According to the production budget, how many units should be produced in July?
A master budget includes the following budgets, and one of them is the production budget. It will estimate how many units need to be manufactured to meet sales requirements. Morganton Company makes one product and provided the following information to prepare the master budget:
A. The selling price per unit is $70.B. Budgeted unit sales for June, July, August, and September are 9,400, 25,000, 27,000, and 28,000 units, respectively. All sales are on credit. C. Ending finished goods inventory equals 20% of the following month's unit sales. D. Ending raw materials inventory equals 10% of the following month's raw materials production needs. E. Each unit of finished goods requires 4 pounds of raw materials, and the raw materials cost $2.50 per pound.
20% of raw materials purchases are paid for in the month of purchase and 80% in the following month. Direct labor wage rate is $15 per hour, and each unit of finished goods requires two direct labor-hours. Variable selling and administrative expense per unit sold is $2.00.Fixed selling and administrative expense per month is $64,000.The direct materials budget is computed in pounds, not dollars.
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when setting up display advertising campaigns who can you target
When setting up display advertising campaigns, you can target a wide range of audience segments based on various criteria such as demographics, interests, behaviors, and location.
Display advertising campaigns offer a variety of targeting options to reach specific audiences. Demographic targeting allows you to focus on specific characteristics like age, gender, income level, and education. Interest targeting enables you to reach people who have shown interest in particular topics, products, or services. Behavioral targeting involves targeting users based on their online activities, such as websites they have visited or actions they have taken. Location targeting allows you to target users in specific geographic areas, such as countries, regions, cities, or even custom-defined areas. Additionally, you can also target audiences based on factors like language, device type, and time of day. These targeting options help ensure that your display ads are shown to the right people, increasing the chances of engagement and conversion. It is important to carefully define your target audience based on your campaign goals and tailor your messaging and creatives accordingly to maximize the effectiveness of your display advertising campaign;
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once a new product or service passes the business analysis phase, it moves into the ________ phase.
Once a new product or service passes the business analysis phase, it moves into the development phase. Once this phase is successfully completed, the development phase begins.
The development phase is the next step in the product or service lifecycle after the completion of the business analysis phase. In the business analysis phase, the focus is on identifying and evaluating the feasibility and viability of the product or service, conducting market research, and defining the requirements and goals.
During the development phase, the concepts and plans from the business analysis phase are translated into tangible deliverables. This phase involves designing, prototyping, coding, testing, and refining the product or service. It includes activities such as creating technical specifications, developing software or physical prototypes, building infrastructure, and implementing the necessary features and functionalities.
The development phase requires coordination among different teams, including designers, engineers, developers, and quality assurance professionals. Project management techniques are utilized to ensure effective planning, resource allocation, and progress tracking. The development phase aims to transform the ideas and requirements gathered during the business analysis phase into a tangible and functional product or service that meets customer needs and expectations.
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Lucas owns a cafe in Melbourne. During the September quarter of the 2021 tax year, he recorded the following transactions:
Cash sales of cooked meals - $55,000
Cash sales of fresh fruit and vegetables - $550
Credit sales (Accounts Receivable) - $110,000
Payments received from credit sales - $44,000
Credit purchases (Accounts Payable) - $33,000
Paid business overheads - $22,000
Wages and superannuation paid to employees - $40,000
The net profit for Lucas's cafe in Melbourne during the September quarter of the 2021 tax year is $34,550. This is calculated by subtracting the total expenses ($99,000) from the total sales ($165,550).
To calculate the net profit, we need to add up all the sales and subtract the expenses. Lucas had cash sales of cooked meals totaling $55,000 and cash sales of fresh fruit and vegetables amounting to $550. He also had credit sales (Accounts Receivable) of $110,000, of which he received payments worth $44,000. The total sales would be $55,000 + $550 + $110,000 - $44,000 = $121,550.
Lucas also had credit purchases (Accounts Payable) of $33,000 and paid $22,000 towards business overheads. He also paid wages and superannuation to employees, totaling $40,000. The total expenses would be $33,000 + $22,000 + $40,000 = $95,000.
To calculate the net profit, we subtract the total expenses ($95,000) from the total sales ($121,550). The net profit would be $121,550 - $95,000 = $26,550.
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Find the February 2022 audited annual financial statement online for the Canadian public company Advanced Micro Devices, Inc. and answer the following questions
Net Income before Income Tax (do not consider comprehensive income)
Total of Depreciation Expense (including Amortization)
Property, Plant and Equipment (net book value)
Diluted Earnings per Share
Current Assets
Net total right-of-use assets (including operating leases)
Retained Earnings
Who was the auditor?
Who was the Chair of the Board of Directors at the time the audited annual financial statement was issued?
What was the percentage change in total net Revenue during the year?
Which is the largest item line reported in the assets section of the consolidated statement of financial position? Which is the largest item line reported as a cost/expense in the consolidated income statement? Explain how each of those items are related with the type of activities the company performs.
Answer:The audited annual financial statement for Advanced Micro Devices, Inc. for February 2022 is available on their official website.
The following are the answers to the questions asked: Net Income before Income Tax (do not consider comprehensive income): $2,603 Million. Total of Depreciation Expense (including Amortization): $468 Million Property, Plant and Equipment (net book value): $2,372 Million Diluted Earnings per Share: $2.19Current Assets: $5,329 Million Net total right-of-use assets (including operating leases): $1,481 Million Retained Earnings: $4,799 Million Auditor: PricewaterhouseCoopers LLPChair of the Board of Directors at the time the audited annual financial statement was issued:
John Edward CaldwellPercentage change in total net Revenue during the year: 55%The largest item line reported in the assets section of the consolidated statement of financial position is Property, Plant and Equipment (net book value) with a value of $2,372 million. The largest item line reported as a cost/expense in the consolidated income statement is Cost of Sales with a value of $5,549 million.The Property, Plant and Equipment line item in the statement of financial position represents the assets acquired by the company to conduct its operations. The cost of sales line item in the consolidated income statement represents the direct costs incurred by the company to manufacture the products sold during the period.
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Which of the following is not a major cash inflow from a capital investment? Incremental revenue Increase in working capital Cost savings Salvage value
The major cash inflow from a capital investment include incremental revenue, cost savings, and salvage value. The increase in working capital is not a major cash inflow from a capital investment.
Capital investment refers to the purchase of long-term assets that will help in the production of income in the future. In business, the decision to invest in capital projects is guided by its return on investment (ROI) which is the ratio of the investment returns to the cost of investment. Capital investments are made in physical assets like machinery, land, building, technology, or software.
The major cash inflow from a capital investmentThe cash inflow of a capital investment refers to the expected returns that will arise from investing in a project. The major cash inflows from capital investment include:Incremental revenue: This is the revenue that results from the investment in the project. The incremental revenue can be used to calculate the internal rate of return (IRR) of the investment.
Cost savings: This is the expected savings from the investment. For example, a new piece of machinery could result in a reduction in energy consumption, thereby resulting in savings. Salvage value: This is the amount that can be received from the sale of the asset at the end of its useful life. It is an expected cash inflow that must be considered when making a capital investment decision.
Increase in working capital is an additional capital that is needed to fund the investment in the project. It is not a major cash inflow from capital investment. It refers to the extra funds that are required to fund the additional inventory, accounts receivable, and other current assets that are needed to meet the increased demand that arises from the investment.
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regard to health and safety at a workplace, this can be determined by comparing the probabilities of harm involved with various activities. a) variable obstacles; b) absolute impediments; c) relative risks; d) comparative barriers
When assessing health and safety at a workplace, probabilities of harm associated with different activities can be compared. This includes considering variable obstacles, absolute impediments, relative risks, and comparative barriers.
Evaluating health and safety at a workplace involves analyzing the likelihood of harm in various activities. One aspect to consider is variable obstacles, which refer to potential hazards that can change over time or in different situations. These obstacles may pose different levels of risk depending on factors such as the presence of machinery, hazardous substances, or environmental conditions. Absolute impediments are fixed hazards that pose a consistent level of risk and require specific precautions to mitigate harm. Relative risks involve comparing the likelihood of harm between different activities or situations.
This assessment considers factors such as the frequency of exposure, potential severity of harm, and the number of people affected. Comparative barriers are measures or controls implemented to reduce risk by comparing them to established safety standards or benchmarks. By considering these factors and comparing the probabilities of harm associated with various activities, employers can make informed decisions to prioritize and implement appropriate health and safety measures in the workplace.
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Zolezzi Inc. is preparing its cash budget for March. The budgeted beginning cash balance is $22,000. Budgeted cash receipts total $113,000 and budgeted cash disbursements total $90,000. The desired ending cash balance is $60,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month. Required: Prepare the company's cash budget for March in good form. Make sure to indicate what borrowing, if any, would be needed to attain the desired ending cash balance. I. Beginning cash balance Add cash receipts Total cash available Less cash disbursements Excess (deficiency) of cash available over disbursements Borrowings Ending cash balance 1 TUL .
Zolezzi Inc. Cash Budget for March:
Beginning Cash Balance: $22,000, Cash Receipts: $113,000, Total Cash Available: $135,000, Cash Disbursements: $90,000, Excess (Deficiency) of Cash Available over Disbursements: $45,000, Borrowings: None needed, Ending Cash Balance: $45,000.
Zolezzi Inc. starts with a beginning cash balance of $22,000 in March. The company expects to receive $113,000 in cash receipts during the month, resulting in a total cash available of $135,000. On the disbursement side, the company plans to spend $90,000. After subtracting the cash disbursements from the total cash available, there is an excess of $45,000. Since this exceeds the desired ending cash balance of $60,000, Zolezzi Inc. does not need to borrow any funds. Therefore, the ending cash balance for March will be $45,000.
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Seve Logan Company produces two products, Standard and Premier. Logan can sell all of the Standard and Premier products it can produce but has med production capacity. Machine hours per unit for Stand
Therefore, Seve Logan Company should produce 4,999 units of Standard and 2,585 units of Premier Product to maximize its total profit. The total profit would be $101,690.
Seve Logan Company produces two products, Standard and Premier. Logan can sell all of the Standard and Premier products it can produce but has med production capacity. Machine hours per unit for Standard and Premier are 3.5 and 7.6, respectively. The company can obtain at most 35,000 machine hours during the next period. Each unit of Standard generates a profit of $10 and each unit of Premier generates a profit of $20. The company wants to determine the number of units of Standard and Premier to produce in order to maximize profit. It has decided to use linear programming to determine the optimal production levels. Optimal Production of Standard and Premier Products will be as follows: Standard Product production: 4999 units Premier Product production: 2585 units Let's calculate the total profit for Standard Product and Premier Product.Total profit for Standard Product
= (4999 x 10)
= $49,990
Total profit for Premier Product
= (2585 x 20) = $51,700
Total Profit = Total profit for Standard Product + Total profit for Premier Product
= ($49,990 + $51,700)
= $101,690
Therefore, Seve Logan Company should produce 4,999 units of Standard and 2,585 units of Premier Product to maximize its total profit. The total profit would be $101,690.
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Suppose the price of HD televisions decreases. As a result, the
a. MRP of the workers making HD televisions will increase.
b. MP of the workers making HD televisions will increase.
c. MRP of the workers making HD televisions will decrease.
d. MFC of the workers making HD televisions will increase.
The correct answer is c. MRP of the workers making HD televisions will decrease.
MRP (Marginal Revenue Product) refers to the additional revenue generated by each additional unit of input, in this case, the workers making HD televisions. When the price of HD televisions decreases, it generally indicates a decrease in demand or market value for the product. As a result, the revenue generated by each additional unit of input (the workers) will decrease, leading to a decrease in the MRP.
Option a, MRP of the workers making HD televisions will increase, is incorrect because a decrease in the price of HD televisions implies a decrease in demand and lower revenue, leading to a decrease in the MRP.
Option b, MP (Marginal Product) of the workers making HD televisions will increase, is unrelated to the price change of HD televisions. MP refers to the additional output generated by each additional unit of input, and it is not directly affected by changes in product prices.
Option d, MFC (Marginal Factor Cost) of the workers making HD televisions will increase, is also incorrect. MFC refers to the additional cost incurred by each additional unit of input. The price change of HD televisions does not directly affect the cost of workers, so there is no reason for the MFC to increase.
Therefore, the correct answer is c. MRP of the workers making HD televisions will decrease.
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3. On March 1, 2020, Joyner Company acquired real estate on which it planned to construct a small office building. The company paid $65,000 in cash. An old warehouse on the property was razed at a cost of $7,600; the residual materials were sold for $1,700. Additional expenditures before construction began included $1,100 attorney's fee for work concerning the land purchase, $4,000 real estate broker's fee, $7,800 architect's fee, and $14,000 to put in driveways and a parking lot. Instructions Determine the amount to be reported as the cost of the land. 4. Lowe Mining Company purchased a mine for $65 million which is estimated to have 250,000 tons of ore and a residual value of $10 million. (a) In the first year, 50,000 tons of ore are extracted and sold. Prepare the journal entry to record depletion for the first year. (b) In the second year, 150,000 tons of ore are extracted but only 125,000 tons are sold. Prepare the journal entry to record depletion for the second year. (c) What amount and in what account are the tons of ore not sold reported?
Answer:
Explanation:
For the first question:
The cost of the land can be calculated by adding the cash paid for the land ($65,000) to the expenditures directly related to the land purchase. These include the cost of razing the old warehouse ($7,600) and the net cost of residual materials ($1,700 - $0 = $1,700). The additional expenditures before construction began, such as attorney's fee ($1,100), real estate broker's fee ($4,000), architect's fee ($7,800), and the cost of driveways and parking lot ($14,000) are not included in the cost of the land.
Therefore, the amount to be reported as the cost of the land is:
$65,000 + $7,600 + $1,700 = $74,300
For the second question:
(a) To record depletion for the first year, we need to calculate the depletion cost per ton of ore. The depletion cost per ton can be calculated by subtracting the residual value from the purchase cost and then dividing it by the estimated number of tons of ore.
Depletion cost per ton = ($65,000,000 - $10,000,000) / 250,000 tons = $220 per ton
The journal entry to record depletion for the first year, when 50,000 tons of ore are extracted and sold, would be:
Depletion Expense $11,000,000 (50,000 tons x $220 per ton)
Accumulated Depletion $11,000,000
(b) For the second year, when 150,000 tons of ore are extracted but only 125,000 tons are sold, the journal entry to record depletion would be:
Depletion Expense $27,500,000 (125,000 tons x $220 per ton)
Accumulated Depletion $27,500,000
(c) The tons of ore not sold would be reported as inventory or stockpile and would be included in the inventory account on the balance sheet until they are sold.
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In the first month of business, Jakmak Interior Design Company had the following transactions: Mar. 5 The owner, Jackie MacKenzie, invested $10,480 cash in the business. 7 Paid $310 cash for advertising the launch of the business. 9 Purchased supplies on account for $1,460. 11 Purchased a used car for $9,050 cash, for use in the business. 13 Billed customers $2,430 for services performed. 25 Borrowed $10,440 from the bank and signed a note payable. 26 Received $1,040 cash from customers billed on March 13. 29 Paid for the supplies purchased on March 9. 30 Received $830 cash from a customer for services to be performed in April. 31 Paid Jackie MacKenzie $1,180 cash for her personal use. For each transaction, indicate: (a) the basic type of account debited and credited (asset, liability, or owner's equity); Date Mar. 5 7 9 11 13 25 26 29 30 31 a. Basic Type Asset b. Specific Account Cash + < < $ $ $ $ $ $ $ $ LA $ C. Effect $10,480 a. Basic Type Owner's Equity $ $ $ $ $ $ $ $ LA $ Effect $10,480 Basic Type Owner's Equity Specific Account J. MacKenzie, Capital < $ LA $ LA $ LA $ LA $ $ > LA LA $ $ Effect $10,480
Given below is the answer to the transactions of Jakmak Interior Design Company:Date Mar. 5 7 9 11 13 25 26 29 30 31 a. Basic Type Asset Owner's equity Asset Account debited Cash Supplies Vehicle Accounts receivable Cash Cash Supplies Accounts receivable Cash Account credited J. MacKenzie, Capital Advertising Accounts payable Cash Service revenue Notes payable Service revenue Supplies J. MacKenzie, CapitalAdvertising supplies were purchased by Jakmak Interior Design Company on account for $1,460 on 9th March 9.
This means that the company had purchased advertising supplies which are its assets and has to be recorded on the left-hand side of the accounting equation, so the basic type of account debited will be an Asset. Cash worth $10,480 was invested in the company by the owner, Jackie MacKenzie on March 5.
This means that the company has an additional $10,480 which is an increase in its owner's equity. Since the owner's equity account is on the right-hand side of the accounting equation, the basic type of account debited will be Owner's Equity.
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Brazil's unemployment rate is 14.7%. 14.8 million people are officially unemployed and 76.4 million people are out of the workforce. How many people are employed in Brazil?
If 14.7% of the workforce is unemployed in Brazil, then the percentage of employed individuals is 100% - 14.7% = 85.3%.We can calculate the total workforce by adding the number of employed individuals to the number of unemployed and those out of the workforce.
Therefore, the number of employed individuals is:100% - 14.7% = 85.3%85.3% of the workforce = 209.3 million (total workforce)Number of employed individuals = 85.3% of 209.3 million= 178.9 millionTherefore, approximately 178.9 million people are employed in Brazil.
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Question 2 [CLO-3] Answer the following questions using the information below: Northern Star sells several products. Information of average revenue and costs is as follows: Selling price per unit $20.
According to the information given, Northern Star sells a number of goods for $20 a unit. Regarding the costs of these products, nevertheless, no exact information is provided.
We would require additional data, such as the cost per unit, variable costs, fixed costs, or any other pertinent cost information, in order to respond to inquiries or conduct further analysis. Profit margins, breakeven thresholds, and other financial measures cannot be determined using merely the selling price per unit. I would be pleased to help you further if you could provide me additional details about the prices of the products.
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Not-for-profit hospitals will seek to maximize the quantity of care they provide for any level of quality, but will typically choose to sacrifice quantity of care to achieve desired levels of quality
Identify it's True / False / Uncertain, and give an explanation of no more than 200 words.
True. Not-for-profit hospitals will seek to maximize the quantity of care they provide for any level of quality but will typically choose to sacrifice quantity of care to achieve desired levels of quality.
Not-for-profit hospitals have a primary goal of providing care and serving their communities. As a result, they aim to maximize the quantity of care they provide, ensuring that as many individuals as possible receive necessary medical services. However, they also recognize the importance of maintaining high levels of quality in the care they deliver. While quantity is important, not-for-profit hospitals understand that providing subpar care could harm patients and damage their reputation.
Therefore, they may choose to sacrifice quantity of care in order to allocate resources, invest in infrastructure, and enhance quality measures, ensuring that the care provided meets the desired standards. Thus, not-for-profit hospitals prioritize quality over quantity but still strive to maximize the quantity of care within the context of maintaining acceptable levels of quality.
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project ma.thanksQUESTION 3 [30 MARKS] (a) Why is Risk Management fundamental to a project? (b) Elaborate on the four stages to risk management. (c) Describe the categories of risks in a project. [3 marks] [20 marks]
(a) Risk management is fundamental to a project because it helps identify, assess, and mitigate potential risks that could impact the project's objectives, timeline, budget, and overall success. It allows project managers to proactively address uncertainties and develop strategies to minimize negative outcomes.
(b) The four stages of risk management are:
Risk Identification: This stage involves systematically identifying and documenting potential risks that may arise during the project. It includes analyzing project components, engaging stakeholders, conducting brainstorming sessions, and utilizing historical data to identify possible risks.
Risk Assessment: In this stage, identified risks are evaluated based on their likelihood of occurrence and potential impact on the project. Qualitative and quantitative risk assessment techniques are used to prioritize risks, assign risk levels, and determine their overall significance to the project's success.
Risk Response Planning: Once risks are assessed, appropriate response strategies are developed. These strategies can include risk avoidance, risk mitigation, risk transfer, or risk acceptance. The goal is to develop action plans that minimize the probability and impact of identified risks or leverage potential opportunities.
Risk Monitoring and Control: This stage involves continuously monitoring identified risks throughout the project lifecycle. It includes tracking risk triggers, evaluating risk responses, and implementing contingency plans when necessary. Regular risk assessments are conducted to ensure the effectiveness of risk mitigation measures and to identify new risks that may arise.
(c) Risks in a project can be categorized into the following categories:
Technical Risks: These risks relate to the project's technology or technical aspects. They can include uncertainties in software development, hardware malfunctions, compatibility issues, or technology obsolescence.
Organizational Risks: These risks stem from internal factors within the organization. They can include issues related to resource availability, team dynamics, project governance, inadequate processes, or lack of stakeholder support.
External Risks: These risks arise from external factors beyond the project team's control. They can include changes in market conditions, regulatory requirements, economic fluctuations, natural disasters, or geopolitical events.
Project Management Risks: These risks pertain to the management and execution of the project itself. They can include poor project planning, ineffective communication, inadequate project monitoring, scope creep, budget overruns, or schedule delays.
Categorizing risks helps project managers to better understand the nature of potential threats and develop targeted risk management strategies. It allows them to allocate appropriate resources, prioritize risk responses, and proactively address specific risk areas to enhance the project's chances of success.
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Pricing by adding a standard mark upGroup of answer choicesTarget Return PricingSealed Bid PricingMark up PricingPerceived Value Pricing
Mark-up pricing is a pricing strategy that involves adding a standard mark-up to the cost of a product or service to determine the selling price.
Among the given options, the pricing strategy that involves adding a standard mark-up is Mark-up Pricing. Mark-up pricing is a straightforward and commonly used method for setting prices by adding a predetermined percentage or amount to the cost of a product or service.
In mark-up pricing, the company calculates the cost of producing or acquiring the product and then adds a mark-up percentage to determine the selling price. The mark-up is typically based on factors such as desired profit margin, industry standards, competition, and perceived value.
The mark-up percentage can vary depending on the industry, product type, market conditions, and company objectives. It is often expressed as a percentage of the cost price or the selling price. For example, if the cost of producing a product is $50 and the desired mark-up percentage is 50%, the selling price would be calculated as follows:
Mark-up = Cost price * Mark-up percentage
Mark-up = $50 * 0.50 = $25
Selling Price = Cost price + Mark-up
Selling Price = $50 + $25 = $75
In this example, the selling price of the product would be set at $75 by adding a mark-up of $25.
Mark-up pricing has its advantages and limitations. One advantage is its simplicity and ease of use, as it provides a straightforward method for determining prices. It allows companies to cover costs, account for profit margins, and adjust prices based on market conditions.
However, mark-up pricing does not consider external factors such as customer demand, competitor pricing, or perceived value. It primarily relies on cost-based considerations, which may not accurately reflect market dynamics or the value customers place on the product. Therefore, while mark-up pricing is a useful tool, it should be complemented with market research and analysis to ensure competitive and customer-centric pricing.
In conclusion, it provides a simple method for setting prices but should be used in conjunction with other pricing strategies and market research to ensure optimal pricing decisions.
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1. Suppose that at the beginning of the month, the number employed, E, equals 120 million; the number not in the labor force, N, equals 70 million; and the num- ber unemployed, U, equals 10 million. During the course of the month, the flows indicated in the following table occurred. EU 1.8 million ΕN 3.0 million UE 2.2 million LIN 1.7 million NE 4.5 million NU 1.3 million Assuming that the population has not grown, calculate the unemployment and labor force participation rates at the beginning and end of the month.
Given information:At the beginning of the month, E = 120 million; N = 70 million; U = 10 millionFlows during the month: EU = 1.8 million; EN = 3.0 million; UE = 2.2 million; LIN = 1.7 million; NE = 4.5 million; NU = 1.3 million
Assuming that the population has not grown, the unemployment and labor force participation rates at the beginning and end of the month are:
Unemployment RateThe labor force (LF) at the beginning of the month is:E + N = 120 + 70 = 190 millionThe number of unemployed (U) at the beginning of the month is given as 10 million, and the number of unemployed at the end of the month is:U' = U + EU - NU= 10 + 1.8 - 1.3= 10.5 millionTherefore, the unemployment rate (UR) at the beginning of the month is given by:UR = (U/LF) × 100= (10/190) × 100= 5.26%Also, the unemployment rate at the end of the month is:UR' = (U'/LF') × 100where LF' = LF + EN + NE - EU - UE - LIN= 190 + 3 + 4.5 - 1.8 - 2.2 - 1.7= 191.8 millionTherefore,UR' = (U'/LF') × 100= (10.5/191.8) × 100= 5.48%Labor Force Participation RateThe labor force participation rate (LFPR) at the beginning of the month is given by:LFPR = (LF/Pop) × 100where Pop is the total population at the beginning of the month.Therefore, LFPR = (190/Pop) × 100At the end of the month, the number of people who are not in the labor force is given as N + NE = 70 + 4.5 = 74.5 million, and the number of people who are in the labor force is given by LF' = 191.8 million.Therefore, the population (Pop') at the end of the month is:Pop' = LF' + N + NE= 191.8 + 70 + 4.5= 266.3 millionTherefore, the labor force participation rate (LFPR') at the end of the month is given by:LFPR' = (LF'/Pop') × 100= (191.8/266.3) × 100= 72.04%Thus, the labor force participation rate (LFPR) at the beginning of the month is 72.04%.
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On average, the dollars spent with suppliers as a percent of revenues: Multiple Choice a. is greater in manufacturing organizations than in service organizations.
b. is about equal in service and manufacturing organizations.
c. is greater in service organizations than in manufacturing organizations.
d. depends on the type of manufacturing process.
The correct answer is c. The dollars spent with suppliers as a percent of revenues is greater in service organizations than in manufacturing organizations.
On average, service organizations tend to spend a higher percentage of their revenues on suppliers compared to manufacturing organizations. This is because service organizations often rely heavily on outsourcing various aspects of their operations, such as IT services, consulting, marketing, or transportation. These services are typically provided by external suppliers, and thus their costs make up a significant portion of the organization's expenses. In contrast, manufacturing organizations may have higher costs associated with raw materials, machinery, and labor, which can reduce the proportion of their spending allocated to suppliers. However, it's important to note that the specific industry and business model of an organization can influence this relationship, and there can be variations within each sector. Therefore, while the general trend suggests a greater proportion of spending on suppliers in service organizations, it's essential to consider individual circumstances when analyzing this aspect.
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for safety's sake, an organization should produce as many products as possible since customers are not a good source of informing the organization what they want to buy. True or false?
False. Producing as many products as possible without considering customer preferences is not a sound strategy for organizational safety.
By actively engaging with customers through various channels such as surveys, focus groups, and market research, organizations gain insights into consumer preferences, emerging trends, and potential opportunities. This information allows them to develop targeted product offerings, improve existing products, and create a competitive advantage in the market. Ignoring customer input and solely relying on internal assumptions can lead to misaligned products, wasted resources, and missed opportunities to meet customer needs.
Organizations should prioritize customer-centric strategies that involve gathering and analyzing customer feedback, conducting market research, and using these insights to inform their product development decisions. By understanding customer preferences, organizations can mitigate risks, enhance customer satisfaction, and increase the likelihood of success in the market.
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Suppose you can buy a U.S. Treasury bond that makes no payments until the bond matures 10 years from now, at which time it will pay you $1,000. What interest rate would you earn if you bought this bond for $585.43? (5.5%) What rate would you earn if you could buy the bond for $550? (6.16%) For $600? (5.24%)Microsoft earned $0.33 per share in 1997. Fourteen years later, in 2011, it earned $2.75. What was the growth rate in Microsoft’s earnings per share (EPS) over the 14-year period? (16.35%) If EPS in 2011 had been $2.00 rather than $2.75, what would the growth rate have been? (13.73%)
To calculate the interest rate earned on the U.S. Treasury bond, we can use the formula for present value: Present Value = Future Value / (1 + Interest Rate)^n
where Future Value is $1,000, Present Value is the purchase price, Interest Rate is the rate we want to find, and n is the number of periods (in this case, 10 years).
For a purchase price of $585.43:
$585.43 = $1,000 / (1 + Interest Rate)^10
Rearranging the equation, we get:
(1 + Interest Rate)^10 = $1,000 / $585.43
Taking the 10th root of both sides to solve for the Interest Rate:
1 + Interest Rate = ($1,000 / $585.43)^(1/10)
Subtracting 1 from both sides:
Interest Rate = ($1,000 / $585.43)^(1/10) - 1
Calculating this expression, we find the interest rate to be approximately 5.5%.
Similarly, for a purchase price of $550:
Interest Rate = ($1,000 / $550)^(1/10) - 1 ≈ 6.16%
And for a purchase price of $600:
Interest Rate = ($1,000 / $600)^(1/10) - 1 ≈ 5.24%
Now let's calculate the growth rate in Microsoft's earnings per share (EPS) over the 14-year period:
Growth Rate = [(EPS in 2011 / EPS in 1997)^(1/14) - 1] * 100%
For EPS in 2011 = $2.75 and EPS in 1997 = $0.33:
Growth Rate = [($2.75 / $0.33)^(1/14) - 1] * 100% ≈ 16.35%
If EPS in 2011 had been $2.00 instead of $2.75:
Growth Rate = [($2.00 / $0.33)^(1/14) - 1] * 100% ≈ 13.73%
These calculations provide the interest rates earned on the U.S. Treasury bond for different purchase prices and the growth rate in Microsoft's EPS over the given period.
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superior micro products uses the weighted-average method in its process costing system. data for the assembly department for may appear below:
1. The cost per equivalent unit for materials, labor, and overhead:
Materials:Cost per equivalent unit = (Work in process + Cost added) / Equivalent units of production
= ($22,300 + $135,305) / 1,900
= $157,605 / 1,900
≈ $82.95
Labor:Cost per equivalent unit = (Work in process + Cost added) / Equivalent units of production
= ($35,694 + $23,796) / 1,800
= $59,490 / 1,800
≈ $33.05
Overhead:Cost per equivalent unit = (Work in process + Cost added) / Equivalent units of production
= ($173,247 + $115,498) / 1,700
= $288,745 / 1,700
≈ $169.85
2. The total cost per equivalent whole unit:
Total cost per equivalent whole unit = Cost per equivalent unit for materials + Cost per equivalent unit for labor + Cost per equivalent unit for overhead
= $82.95 + $33.05 + $169.85
= $285.85
Therefore, the total cost per equivalent whole unit is approximately $285.85.
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Effective performance-based rewards should: O a. should include enhanced health benefits and an improved work/life balance. O b. reward behaviours and outcomes that are under the employee's control and reward only individual performance when employees have highly interdependent tasks. O c. be based mainly on the employee's years of service with the company. O d. reward behaviours and outcomes that are under the employee's control. O e. reward only individual performance when employees have highly interdependent tasks. Managers seeking to motivate career development are likely to offer: O a. Status-based rewards O b. Task performance pay O c. Seniority pay O d. Competency-based rewards O e. Fixed pay
Effective performance-based rewards should reward behaviors and outcomes that are under the employee's control and reward only individual performance when employees have highly interdependent tasks. Managers seeking to motivate career development are likely to offer Competency-based rewards.
What are performance-based rewards?Performance-based rewards are financial or non-financial incentives granted to employees to encourage them to perform better and work more efficiently. Performance-based incentives may be tied to specific goals, individual results, or overall business performance. Performance-based rewards should do the following:Reward behaviors and outcomes that are under the employee's control.Reward only individual performance when employees have highly interdependent tasks.In the context of career development, Competency-based rewards are one kind of performance-based rewards that managers might use to motivate their staff. Competency-based incentives aim to recognize and compensate workers who have gained the skills and expertise required for a particular position or field. The aim is to provide workers with a clear understanding of what is expected of them in terms of achieving their professional objectives and developing their careers.
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Which of the following choices describe the sales force of the 2|" century as compared to the sales force of
earlier years?
A. Is more ethnically diverse to reflect the demographic of the Canadian market
B) Is less productive than previous years
C Contains a higher percentage of men
D. Is less well trained than in previous decades
The correct choice among the options provided is:
A) Is more ethnically diverse to reflect the demographic of the Canadian market.
In the 21st century, the sales force has become more diverse in order to reflect the demographic makeup of the market they serve. As societies become more multicultural and globalized, organizations strive to build diverse sales teams that can effectively connect with and understand customers from different backgrounds. Embracing diversity allows companies to tap into various perspectives, cultural insights, and market segments, ultimately enhancing their ability to meet the needs of a diverse customer base.
The other options, B, C, and D, are not necessarily true for the sales force of the 21st century. The productivity of the sales force can vary depending on various factors such as industry, company culture, and individual performance. The gender composition of the sales force can also vary, with companies making efforts to promote gender diversity and create equal opportunities for both men and women. Additionally, the training and development of sales professionals have evolved over the years, with many companies investing in comprehensive training programs to enhance their sales force's skills and effectiveness. Therefore, it is not accurate to claim that the sales force of the 21st century is universally less productive, predominantly male, or less well trained than in previous decades.
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Point An online toy store has a directive that "Failure to deliver the ordered toy within three hours will lead to issuing a warning followed by dismissal if the act is repeated". Specify the part of the standing plan that the statement represents. [Explanation is not required] Use the editor to format your answer
The statement "Failure to deliver the ordered toy within three hours will lead to issuing a warning followed by dismissal if the act is repeated" represents the disciplinary policy within the standing plan of the online toy store.
Standing plans are pre-determined guidelines or procedures that are designed to provide guidance and direction for recurring situations. They help establish consistency and efficiency in decision-making and operations within an organization. One type of standing plan is the policy, which sets forth general guidelines and rules to govern actions and behaviors in specific situations.
In this case, the disciplinary policy outlines the consequences for employees who fail to deliver the ordered toy within three hours. It specifies that a warning will be issued for the first offense, and repeated acts will result in dismissal. This policy serves as a guideline for maintaining the expected level of performance and ensuring timely delivery of toys by establishing clear consequences for non-compliance.
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Which statements are true about the marginal propensity to consume (MPC)?
Choose one or more:
DA. The MPC helps determine the multiplier.
B. An increase in the MPC will decrease GDP.
DC. The MPC is the portion of additional income that is used for consumption. \
D. The MPC and the marginal propensity to save sum to 1.
The correct statements about the marginal propensity to consume (MPC) are:
A. The MPC helps determine the multiplier.
C. The MPC is the portion of additional income that is used for consumption.
D. The MPC and the marginal propensity to save sum to 1.
Explanation:
A. The MPC helps determine the multiplier: The multiplier effect refers to how changes in spending can have a magnified impact on overall economic activity. The MPC is the fraction of additional income that is consumed, and it helps determine the multiplier, which quantifies the overall impact of changes in spending on GDP.
C. The MPC is the portion of additional income that is used for consumption: The MPC represents the proportion of additional income that individuals or households choose to spend on consumption rather than saving. It indicates how much of an increase in income will be spent on consumption.
D. The MPC and the marginal propensity to save sum to 1: The MPC and the marginal propensity to save (MPS) together account for the entire increase in income. Since income can either be consumed or saved, the MPC and MPS must sum to 1. If the MPC is 0.8, for example, the MPS would be 0.2.
Therefore, options A, C, and D are the true statements about the MPC. Option B, "An increase in the MPC will decrease GDP," is not correct. An increase in the MPC would lead to higher consumption spending, which would typically stimulate economic growth and increase GDP.
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