The journal entry to record the purchase of $1,000 of lumber on account, with terms of 10/10 n/30, would be as follows:
Date: [Date of Purchase]Account Debit CreditInventory $1,000Accounts Payable $1,000Explanation:By debiting the Inventory account,we are increasing the asset value of the lumber that has been purchased. The credit to the Accounts Payable account represents the liability created for the amount owed to the supplier for the purchase on account.
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REQUIRED Calculate the hourly recovery tariff for K. Ntuli from the information provided below. (4 marks) INFORMATION The annual basic salary of K. Ntuli is R324 000. She is entitled to an annual bonus of R27 540. Her employer contributes 7.5% of her basic salary to her pension fund. Her normal working week comprises 45 hours (9 hours per day from Monday to Friday). She is entitled to 28 consecutive days paid vacation leave. There are 13 public holidays in the year (365 days), 8 of which fall on weekdays.
The hourly recovery tariff for K. Ntuli, based on the information provided would be R 180 per hour.
How to find the recovery tariff ?First, we need to calculate the total annual salary, which includes the basic salary, the annual bonus, and the employer's contribution to the pension fund.
The employer's contribution to the pension fund is 7.5% of the basic salary:
Employer's Contribution = 0.075 * R324,000
= R24,300
So, the total annual salary is:
Total Annual Salary = Basic Salary + Annual Bonus + Employer's Contribution
Total Annual Salary = R324,000 + R27,540 + R24,300
= R375,840
Number of work weeks in a year = 52 weeks
Number of work weeks after deducting vacations = 52 weeks - 4 weeks
= 48 weeks
Number of work days in a year = 48 weeks * 5 days/week
= 240 days
Number of work days after deducting public holidays = 240 days - 8 days
= 232 days
So, the total number of work hours in a year is:
Total Work Hours = 232 days * 9 hours/day
= 2, 088 hours
The hourly recovery tariff to K. Ntuli is:
= Total Annual Salary / Total Work Hours
= R375,840 / 2088 hours
= R180 per hour
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In May, 175,000 units were finished and transferred to finished goods. Ending Work in Process for May included 60,000 unfinished units 25% complete with respect to Conversion Costs. Calculate the Conversion Cost equivalent units of production for May.
31) Following is a mostly complete Cost of Goods Manufactured schedule.
Work-in-Progress (1/1)
$175,000
Direct Materials
Raw Materials Inventory (1/1)
$ ? (a)
Add: Raw Materials Purchases
186,000
Total Raw Materials Available
$ ? (b)
Less: Raw Materials Inventory (12/31)
15,000
Direct Materials Used
$180,000
Direct Labor
$ ? (c)
Manufacturing Overhead
Indirect Labor
28,000
Factory Depreciation
31,000
Factory Utilities
52,000
Total Manufacturing Overhead
111,000
Total Manufacturing Costs
$ ? (d)
Total Cost of Work-in-Progress
$ ? (e)
Less: Work-in-Progress (12/31)
81,000
Cost of Goods Manufactured
$635,000
Complete the above schedule by indicating the correct values for items "a", "b", "c", "d" and "e". Please show your work.
a) Raw Materials Inventory (1/1) = $175,000 (given in the information)
b) Total Raw Materials Available = Raw Materials Inventory (1/1) + Raw Materials PurchasesTotal Raw Materials Available = $175,000 + $186,000 = $361,000
c) Direct Labor = Total Manufacturing Costs - (Direct Materials Used + Manufacturing Overhead)
Direct Labor = $ ? (d) - ($180,000 + Total Manufacturing Overhead)We need to calculate the Total Manufacturing Overhead first to proceed.
Total Manufacturing Overhead = Indirect Labor + Factory Depreciation + Factory Utilities
Total Manufacturing Overhead = $28,000 + $31,000 + $52,000 = $111,000
Now we can calculate Direct Labor:Direct Labor = $ ? (d) - ($180,000 + $111,000)
d) Total Manufacturing Costs = Direct Materials Used + Direct Labor + Total Manufacturing Overhead
Total Manufacturing Costs = $180,000 + Direct Labor + $111,000
e) Total Cost of Work-in-Progress = Work-in-Progress (1/1) + Total Manufacturing CostsTotal Cost of Work-in-Progress = $175,000 + Total Manufacturing Costs
To calculate Conversion Cost equivalent units of production for May, we use the information provided:
Units completed and transferred = 175,000 unitsEnding Work in Process (units 25% complete with respect to Conversion Costs) = 60,000 units
Conversion Cost equivalent units of production = Units completed and transferred + (Ending Work in Process * Percentage of Completion)
Conversion Cost equivalent units of production = 175,000 + (60,000 * 25%)
Performing the calculation:
Conversion Cost equivalent units of production = 175,000 + (60,000 * 0.
Goods Manufactured schedule:
a) Raw Materials Inventory (1/1) = $175,000b) Total Raw Materials Available = $361,000
c) Direct Labor = (Total Manufacturing Costs) - ($180,000 + $111,000)d) Total Manufacturing Costs = $180,000 + (Direct Labor) + $111,000
e) Total Cost of Work-in-Progress = $175,000 + (Total Manufacturing Costs)Conversion Cost equivalent units of production for May = 190,000 units
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Examples of cash flows from (used in) financing activities are (select all that apply)?
Group of answer choices
Cash payments to owners to acquire or redeem the entity's shares.
Cash receipts and cash payments of an insurance entity for premiums and claims
Cash payments for amounts borrowed.
Cash receipts from issuing ordinary and preference shares or other equity instruments.
Cash receipts from issuing ordinary and preference shares or other equity instruments. Cash payments for amounts borrowed.
Examples of cash flows from (used in) financing activities are as follows: Cash payments to owners to acquire or redeem the entity's shares. Cash flows from financing activities are the result of cash inflows and outflows that are related to the financing of the company's activities. A business's cash flow statement is broken down into three sections: operating activities, investing activities, and financing activities. It is important for companies to keep track of their cash flows from these activities to ensure that they are operating efficiently. Cash payments are the cash outflows that a company has to make to cover various expenses that it incurs as part of its operations. These may include payments for inventory, salaries and wages, rent, taxes, interest payments, and others.
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Using high-low method and the information below, compute the monthly variable cost per machine hour and total fixed costs for corporation.
The high-low method is used in managerial accounting to separate fixed and variable costs. By selecting the highest and lowest activity levels and corresponding costs, the variable cost per unit can be calculated.
The high-low method is a managerial accounting technique used to isolate the variable and fixed elements of a cost.The steps for using the high-low method to calculate the variable cost per unit and the total fixed costs of a company are as follows:
Step 1: Choose the highest and lowest activity levels from the data available, as well as the overall costs that correspond to each level. The higher and lower levels are typically denoted as H and L, respectively.
Step 2: Determine the difference in cost between the high and low activity levels and then divide by the difference in activity levels. The result is the variable cost per unit of activity.
Step 3: In the formula y = a + bx, where y is total cost, x is activity level, a is the total fixed cost, and b is the variable cost per unit of activity, solve for a by substituting the total fixed cost, variable cost per unit of activity, and either the high or low activity level.
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A coal company invests $18 million in a mine estimated to have 30 million tons of coal and no residual value. It is expected that the mine will be in operation for 6 years. In the first year, 2 million tons of coal are extracted and sold. What is the depletion for the first year?
O a. $5,000,000.
O b. cannot be determined from the information provided.
O c. $3,000,000.
O d. $1,200,000.
The depletion for the first year is $1,200,000 (Option d). Depletion is calculated by dividing the cost of the mine by the estimated total tons of coal and then multiplying it by the number of tons extracted.
In this case, the cost of the mine is $18 million, and the estimated total tons of coal are 30 million. Thus, the depletion rate per ton is $18 million / 30 million tons = $0.6 per ton.
Since 2 million tons of coal were extracted and sold in the first year, the depletion for the first year is 2 million tons * $0.6 per ton = $1,200,000.
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Chapter 19 - Principles of Marketing
2. understand why this text argues that micro-marketing costs too much.
4. understand all the elements of the marketing strategy planning process and strategy decisions for the Four Ps.
6. know some of the challenges marketers face as they work to develop ethical marketing strategies that serve consumers needs.
Micro-marketing is a form of marketing in which marketers approach and cater to individual consumers or small groups of consumers with customized marketing messages. However, there are a few reasons why this text argues that micro-marketing costs too much.
Micro-marketing is a form of marketing in which marketers approach and cater to individual consumers or small groups of consumers with customized marketing messages. However, there are a few reasons why this text argues that micro-marketing costs too much. One of the reasons micro-marketing costs too much is that it requires a lot of research and data analysis to understand the needs, preferences, and behaviors of individual consumers. This is time-consuming and expensive, as it often involves collecting data from various sources, analyzing it using statistical methods, and segmenting the market into various groups.
Moreover, micro-marketing requires personalized communication with customers, which is often achieved through direct mail, telephone calls, or personal visits. This adds to the cost of marketing as it requires resources, staff, and equipment to create, distribute, and track marketing messages. Another reason why micro-marketing is expensive is that it involves creating customized products or services for individual customers or small groups of customers. This requires a lot of resources, such as research and development, prototyping, and testing, which can be costly.
The marketing strategy planning process involves four key elements, also known as the Four Ps of marketing. They include product, price, place, and promotion. The strategy decisions for the Four Ps involve determining the target market, understanding customer needs, developing marketing objectives, and creating a marketing mix that meets the needs of customers.
Some of the challenges that marketers face as they work to develop ethical marketing strategies that serve consumers' needs include issues related to privacy, fairness, and transparency. For instance, marketers need to ensure that they are not violating customers' privacy by collecting or using their personal information without their consent.
Similarly, they need to ensure that they are not engaging in deceptive practices that can mislead customers or exploit their vulnerabilities. They also need to ensure that they are transparent in their communication and are not hiding anything from customers that can have a material impact on their purchasing decision.
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Lundstrom Ltd. (LL) has a December 31 year end. The company purchased a piece of equipment on June 22, 2020, at a cost of $415,300. LL's management estimated that this piece of equipment would have a useful life of 5 years and a residual value of $25,300 LL uses the straight-line method for depreciating its manufacturing equipment. If LL sold the equipment on May 28, 2023, for $149,700, what amount of the gain or loss would have to be recorded? The amount of on disposal $ Prepare the journal entry to record the sale of the equipment. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts) Date May 28/23 Account Titles and Explanation Debit Credit
Lundstrom Ltd. (LL) has a December 31 year end. The company purchased a piece of equipment on June 22, 2020, at a cost of $415,300. LL's management estimated that this piece of equipment would have a useful life of 5 years.
And a residual value of $25,300 LL uses the straight-line method for depreciating its manufacturing equipment. If LL sold the equipment on May 28, 2023, for $149,700, the gain or loss would have to be recorded as follows.
Depreciation expense for the piece of equipment=(Asset cost-Residual value)/useful life=(415300-25300)/5= 78000Loss or gain=(Sale price of equipment-Book value)Book value=Asset cost-Accumulated depreciation =415300-(78000*3)=181500Then, gain or loss = 149700 - 181500 = $−31,800 (Loss)The journal entry to record the sale of equipment is as follows:Date Account Titles and Debit Credit May 28, 2023 Cash 149,700 Accumulated Depreciation 234,000 Equipment 415,300Loss on sale of equipment 31,800To record the sale of the equipment.
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You are given the following budgets for period 1 (six months) and period 2 (six months):
Period 1 Period 2
Sales units 20 000 28 000
Production units 25 000 30 000
The following budgeted information applies to both periods:
Selling price per unit R6.80
Variable cost per unit R3.40
Fixed annual manufacturing overhead (period 1 and period 2) R110 000
Fixed annual manufacturing overheads are recovered at a fixed cost per unit based on the budget annual production units.
YOU ARE REQUIRED:
Calculate the absorption costing profits for period 1 and for period 2 and show the over or under absorption of fixed manufacturing costs in each period;
The absorption costing profits for period 1 and period 2 are given by the following expressions;Absorption costing profits = (Sales units x Selling price) - (Production units x Cost of sales) - Fixed manufacturing overheads.
For the period 1:Sales units = 20,000Selling price per unit = R6.80Production units = 25,000Variable cost per unit = R3.40Fixed manufacturing overhead = R110,000Variable cost per unit = R3.40Production cost per unit = Variable cost + Fixed overhead costProduction cost per unit = R3.40 + R4.40Production cost per unit = R7.80The cost of sales can be calculated as follows;Cost of sales = Production units x Production cost per unitCost of sales = 25,000 x R7.80Cost of sales = R195,000Absorption costing profits = (Sales units x Selling price) - (Production units x Cost of sales) - Fixed manufacturing overheadsAbsorption costing profits = (20,000 x R6.80) - (25,000 x R7.80) - R110,000Absorption costing profits = R136,000 - R195,000 - R110,000Absorption costing profits = - R169,000
The over or under absorption of fixed manufacturing overheads in period 1 is given by the difference between the actual overhead incurred and the budgeted overhead.Fixed overheads absorption rate per unit = Fixed manufacturing overhead / Budgeted annual production unitsThe over or under absorption of fixed manufacturing overheads in period 2 is given by the difference between the actual overhead incurred and the budgeted overhead.Fixed overheads absorption rate per unit = Fixed manufacturing overhead / Budgeted annual production unitsFixed overheads absorption rate per unit = R110,000 / 30,000Fixed overheads absorption rate per unit = R3.67Actual fixed manufacturing overheads = R110,000Over absorption of fixed manufacturing overheads = (Fixed overheads absorption rate per unit x Actual production units) - Actual fixed manufacturing overheadsOver absorption of fixed manufacturing overheads = (R3.67 x 30,000) - R110,000Over absorption of fixed manufacturing overheads = R30,100 . Therefore, the absorption costing profits for period 1 and period 2 are given by Absorption costing profits = (Sales units x Selling price) - (Production units x Cost of sales) - Fixed manufacturing overheads. The over or under absorption of fixed manufacturing overheads in period 1 is - R169,000 and R91,750 for period 2.
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In fixed exchange rate, how will a reduction in foreign interest rate change domestic current account balance, domestic interest rate as well as domestic output. How will the changes be if the exchange rates were flexible?
In a fixed exchange rate, a decrease in foreign interest rates will lead to an increase in domestic current account balance, a reduction in domestic interest rates, and a rise in domestic output. Conversely, with flexible exchange rates, a reduction in foreign interest rates would result in a decrease in domestic current account balance, an increase in domestic interest rates, and no change in domestic output.
Fixed exchange rate is a regime where the central bank of the country is committed to maintaining the exchange rate of its currency at a fixed rate. Under this regime, the central bank buys and sells its currency to stabilize its value in the foreign exchange market. In contrast, under the flexible exchange rate regime, the exchange rate of a currency is allowed to float freely in response to market demand and supply.
In the case of a fixed exchange rate regime, a reduction in foreign interest rates would lead to an increase in the demand for domestic goods and services. As a result, the demand for domestic currency will rise, leading to an appreciation of the domestic currency. This will make the country's exports less competitive and imports more attractive, leading to an increase in the current account balance.
Moreover, the rise in demand for domestic currency will reduce the supply of money in the domestic market, leading to a reduction in the domestic interest rate. This, in turn, will lead to an increase in domestic investment and output.
In contrast, under the flexible exchange rate regime, a reduction in foreign interest rates would lead to a decrease in the demand for domestic currency. As a result, the domestic currency will depreciate, making the country's exports more competitive and imports less attractive. This will lead to a decrease in the current account balance.
Moreover, the depreciation of the domestic currency will increase the supply of money in the domestic market, leading to an increase in the domestic interest rate. This, in turn, will lead to a decrease in domestic investment and output.
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Preparing adjusting entries (annual)-prepaid expense L04 July 1 2017 Dec. 31, 2017 MED FOO JURC Aug. 2018 Insurance coverage July 1, 2017 to June 30, 2018 Stud Muffin Bakery prepares financial statements on an annual basis and has a December 31, 2017 year-end. On July 1, 2017, the bakery purchased a one-year insurance policy for $12,000 cash. The insurance policy covers July 1, 2017 to June 30, 2018. How much does the insurance policy cost per month? b. How many months are between July 1, 2017 and December 31, 2017? Record the journal entry on July 1, 2017. In order to prepare the annual financial statements, record the adjusting journal entry on December 31, 2017
a) The insurance policy cost per month is $1,000.
b) There are 6 months between July 1, 2017, and December 31, 2017.
Journal entry on July 1, 2017:
Debit Prepaid Expense - Insurance $12,000
Credit Cash $12,000
Adjusting journal entry on December 31, 2017:
Debit Insurance Expense $6,000
Credit Prepaid Expense - Insurance $6,000
a. To determine the cost of the insurance policy per month, divide the total cost of the policy by the number of months it covers.
Cost of insurance policy: $12,000
Coverage period: July 1, 2017 to June 30, 2018
Number of months covered: 12
Cost per month = Cost of insurance policy / Number of months
Cost per month = $12,000 / 12
Cost per month = $1,000
Therefore, the insurance policy cost per month is $1,000.
b. To determine the number of months between July 1, 2017, and December 31, 2017, count the months inclusively.
July 1, 2017, to December 31, 2017, includes 6 months.
Therefore, there are 6 months between July 1, 2017, and December 31, 2017.
Journal Entry on July 1, 2017:
Date: July 1, 2017
Account Debit Credit
Prepaid Insurance $12,000
Cash $12,000
Adjusting Journal Entry on December 31, 2017:
Date: December 31, 2017
Account Debit Credit
Insurance Expense $6,000
Prepaid Insurance $6,000
The adjusting entry recognizes the portion of the insurance expense that has been used up or expired during the period from July 1, 2017, to December 31, 2017. Since 6 months have passed, half of the prepaid insurance ($12,000 / 12 months) is recognized as an expense, resulting in an Insurance Expense of $6,000. The other half remains as a prepaid asset on the balance sheet.
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William is owed $1,000 by Tom, which is payable at the end of the month, at his (Tom’s) home. However, William needs the money two weeks earlier. Explain to William how he could possibly secure payment from Tom at an earlier date.
It's important for William to maintain open communication with Tom and express his needs and concerns clearly. By being flexible and understanding, they may be able to find a mutually agreeable solution that allows William to secure the payment from Tom at an earlier date.
To secure payment from Tom at an earlier date, William could consider the following options:
1. Negotiate a new payment date: William can directly communicate with Tom and explain the need for the money two weeks earlier. They can discuss the possibility of adjusting the payment date to accommodate William's request. If Tom agrees, they can establish a new agreed-upon payment date that is two weeks earlier than the original due date.
2. Offer an incentive: In order to motivate Tom to make the payment earlier, William can offer an incentive. This could be a small discount on the owed amount or any other mutually beneficial arrangement that would encourage Tom to provide the payment ahead of schedule.
3. Set up a payment plan: If Tom is unable to provide the full payment upfront, William can propose a payment plan. They can agree on a schedule where Tom pays a portion of the owed amount earlier, in line with William's requirements, and completes the remaining payments by the original due date.
4. Utilize electronic payment methods: If both parties have access to electronic payment systems, William can suggest using online banking or other digital payment platforms. This would allow Tom to transfer the owed amount to William's account without the need for physical exchange or waiting for the end of the month.
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Assume the car can be purchased for 0% down for 60 months (in lieu of rebate).
A car with a sticker price of $42,050 with factory and dealer rebates of $5,100 a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.)
the monthly payment if financed for 60 months at 0% APR is $0.
Given that a car has a sticker price of $42,050 with factory and dealer rebates of $5,100.
The amount to be financed, in this case, will be $42,050 - $5,100
= $36,950.
If the car can be purchased for 0% down for 60 months (in lieu of a rebate), the monthly payment can be found using the following formula:
$$\text{Monthly Payment}
= \frac{\text{Amount Financed} \times \text{Monthly Interest Rate}}{1 - (1 + \text{Monthly Interest Rate})^{-n}}$$,
where n = number of payments = 60 and
Monthly Interest Rate = APR/12 (where APR is the annual percentage rate).
Here APR = 0, hence
Monthly Interest Rate = 0/12
= 0.
Substituting the values, we have:$$\text{Monthly Payment}
= \frac{36950 \times 0}{1 - (1 + 0)^{-60}}
= \frac{0}{1}
= 0$$
Therefore, the monthly payment if financed for 60 months at 0% APR is $0.
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The sticky-price theory of the short-run aggregate supply curve says that if the price level rises by 5% and people were expecting it to rise by 2%, then firms have a. higher than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. b. higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied. c. lower than desired prices, which leads to an increase in the aggregate quantity of goods and services supplied. d. lower than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied.
The sticky-price theory of the short-run aggregate supply curve says that if the price level rises by 5% and people were expecting it to rise by 2%, then firms have higher than desired prices, which leads to a decrease in the aggregate quantity of goods and services supplied. The correct answer is option b.
According to the sticky-price theory of the short-run aggregate supply curve, prices of goods and services are slow to adjust in the short run. When the price level rises by 5% but people were expecting it to rise by 2%, firms find themselves with higher than desired prices.
This means that the prices they can charge for their products are higher than what they had anticipated based on their expectations. As a result, firms may reduce their level of production and decrease the aggregate quantity of goods and services supplied.
The sticky-price theory suggests that in the short run, firms may not be able to adjust their prices immediately to reflect changes in the overall price level. This stickiness in prices can lead to a decrease in the aggregate quantity supplied when the actual price level exceeds the expected price level.
In conclusion, option b accurately describes the impact of higher-than-desired prices on the aggregate quantity of goods and services supplied according to the sticky-price theory. The correct answer is option b.
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Suppose labour and capital are the only factors of production. According to the St olper-Samuelson Theorem, how would these groups benefit or lose from import pro tection with tariffs in a labour-abundant country? ( 20 Marks)
According to the Stolper-Samuelson Theorem, in a labour-abundant country, import protection with tariffs would have different effects on the two factors of production, labor and capital.
The Stolper-Samuelson Theorem states that when a country implements trade protection measures such as tariffs, the factor of production that is relatively abundant in the country will benefit, while the factor that is relatively scarce will lose.
In the case of a labor-abundant country, where labor is relatively abundant compared to capital, the Stolper-Samuelson Theorem suggests that labor would benefit from import protection with tariffs, while capital would lose.
Here's the reasoning behind this:
1. Effect on Labor: Import protection with tariffs restricts foreign competition and reduces the availability of imported goods. This leads to a higher demand for domestically produced goods, which in turn increases the demand for labor. With increased demand for labor, wages are likely to rise, benefiting the laborers. Therefore, labor, being the relatively abundant factor, stands to gain from import protection.
2. Effect on Capital: On the other hand, import protection with tariffs can negatively impact capital owners. Tariffs increase the cost of imported inputs and capital goods, making them more expensive for domestic industries. This can reduce the profitability of capital-intensive industries and lead to a decrease in the demand for capital. As a result, capital owners may experience a decline in returns on their investments.
It's important to note that the Stolper-Samuelson Theorem assumes that factors of production are immobile between industries. In reality, factors of production can move across sectors in response to changes in trade policy. However, in the short run, the Stolper-Samuelson Theorem provides insights into the potential distributional effects of import protection with tariffs based on factor endowments.
It's worth mentioning that the Stolper-Samuelson Theorem focuses on the impact of trade protection on factor returns (wages and returns on capital) within a country. It does not consider broader macroeconomic effects, such as overall economic growth, efficiency, or the welfare implications for consumers. Trade policies should be carefully designed, taking into account these broader considerations and potential trade-offs.
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Look online for some visualization that is very appealing to you. Post this visualization to the forum (embed or link) and discuss why you think it appealed to you. Then analyze it in terms of ideas discussed in this week's lesson and name some properties you identified in it
One example of a visualization that I find visually appealing is Hans Rosling's "Gapminder" tool.
This interactive tool allows users to explore complex data on global development through animated bubble charts. The visualization is captivating because it tells a compelling story about how different countries have developed over time and how their progress is linked to various factors such as population growth, income, and education.
In terms of the ideas discussed in this week's lesson on data visualization, Gapminder demonstrates several properties of effective visualizations. Firstly, it is interactive, allowing users to engage with the data and draw their conclusions. Secondly, it displays complex information in a simple and intuitive way, using color, size, and position to communicate relationships between variables. Finally, the visualization is aesthetically pleasing, making it more engaging and memorable for users.
Overall, the Gapminder visualization is an outstanding example of how data visualization can be used to communicate complex ideas effectively. It combines interactive elements, clear design, and an engaging narrative to create a powerful tool for exploring global development data.
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Look online for some visualization that is very appealing to you. Post this visualization to the forum (embed or link) and discuss why you think it appealed to you. Then analyze it in terms of ideas discussed in this week’s lesson and name some properties you identified in it.
This current cost per unit is based on the following calculations: (Click the icon to view the information.) None of Davey Enterprises' fixed costs will be eliminated if the component is outsourced. However, the freed capacity could be used to build a new product. This new product would be expected to generate $28,000 of contribution margin per year. Requirements 1. If Davey Enterprises outsources the manufacturing of the component, will operating income increase or decrease? By how much? 2. What is the maximum price per unit Davey Enterprises would be willing to pay if it outsources the component?
The net increase in operating income would be $22,800 ($24,000 - $1,200).It would be more beneficial for Davey Enterprises to produce the component internally and utilize the freed capacity for the new product.
If Davey Enterprises outsources the manufacturing of the component, operating income will increase by $22,800. By outsourcing, the company would save $5 per unit on variable costs. With 4,800 units produced and sold annually, the total variable cost savings would amount to $24,000. However, the company would lose the contribution margin of $1,200 ($28,000 divided by 4,800 units) from the potential new product. Therefore, the net increase in operating income would be $22,800 ($24,000 - $1,200).
To determine the maximum price per unit Davey Enterprises would be willing to pay if it outsources the component, we need to compare the savings from outsourcing to the contribution margin of the potential new product. Since the new product generates a contribution margin of $28,000 per year, the maximum price per unit for outsourcing would be $5.83 ($28,000 divided by 4,800 units). If the outsourcing cost exceeds $5.83 per unit, it would be more beneficial for Davey Enterprises to produce the component internally and utilize the freed capacity for the new product, which generates a higher contribution margin.
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write about (Intrinsic vs extrinsic vs compliance)
discussion
Intrinsic motivation, extrinsic motivation, and compliance motivation are the three types of motivation that exist. Each one of these types has its own unique characteristics and influences the behavior of people in various ways.
Here's a discussion on intrinsic vs extrinsic vs compliance motivation:Intrinsic motivation: Intrinsic motivation is based on internal rewards rather than external rewards. This implies that a person is motivated by a sense of pleasure or satisfaction that arises from doing something they enjoy.
Extrinsic motivation: Extrinsic motivation is based on external rewards such as money, prizes, promotions, or recognition. The extrinsic motivation drives people to perform tasks for external rewards, and when they are absent, the motivation to work might also diminish.
Compliance motivation: Compliance motivation is driven by the desire to comply with a request or order, even when the task itself lacks intrinsic or extrinsic rewards.
Compliance motivation is common in situations where individuals believe they have no other choice but to obey, such as following workplace rules and regulations or adhering to traffic laws.
Conclusion:Intrinsic, extrinsic, and compliance motivation have different impacts on an individual's behavior. Intrinsic motivation drives people to perform tasks because of an internal reward. Extrinsic motivation drives people to perform tasks because of an external reward. Compliance motivation drives people to perform tasks because of a sense of obligation or duty.
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Identify and discuss one (1) social AND one (1) economic impact of computers on society
2020 shook our world in unimaginable ways, forcing us to face multiple public health emergencies. And, while technology isn’t the primary tool to solve for systemic health issues, it can play an important role in partnership with government and civil society efforts. However, for technology to be effective, it must be built responsibly – and no matter how good a tool is, people won’t use it unless it has their trust. Discuss two (2) ethical issues linked to the use of computer technology in healthcare, specifically related to the COVID-19 pandemic.
Technology today is evolving at a rapid pace, enabling faster change and progress, causing an acceleration of the rate of change. Identify three (3) emerging technologies one should be on the lookout for today.
Social Impact: One significant social impact of computers on society is the increased connectivity and access to information. Economic Impact: Computers have had a profound economic impact by transforming various sectors and industries. Emerging Technologies to Watch: AI, IoT, Blockchain.
Social Impact: One significant social impact of computers on society is the increased connectivity and access to information. Computers and the internet have revolutionized communication and made it easier for people around the world to connect and share information. Social media platforms, online communities, and messaging applications have transformed the way we interact, allowing us to communicate and collaborate regardless of geographical barriers. This increased connectivity has facilitated the spread of knowledge, diverse perspectives, and cultural exchange, fostering global understanding and awareness. Additionally, computers have also played a vital role in bridging the digital divide by providing opportunities for education and skills development to underserved communities.
Economic Impact: Computers have had a profound economic impact by transforming various sectors and industries. Automation and computerization have improved productivity, efficiency, and accuracy in many workplaces. Tasks that were once time-consuming and labor-intensive can now be performed rapidly and with minimal human intervention. This has led to cost savings for businesses, increased output, and the creation of new job opportunities. Computers have also facilitated the growth of e-commerce, enabling businesses to reach a global customer base and streamline transactions. Furthermore, computer technology has driven innovation, fostering the development of new products, services, and business models, which has contributed to economic growth and competitiveness.
Ethical Issues in Healthcare Technology during the COVID-19 Pandemic: One ethical issue related to the use of computer technology in healthcare during the COVID-19 pandemic is privacy and data security. As healthcare systems rely increasingly on digital platforms for patient records, contact tracing, and telemedicine, the collection and storage of sensitive personal health information raise concerns about privacy breaches and unauthorized access. It is crucial to ensure robust data protection measures, including encryption, authentication protocols, and secure storage, to safeguard patients' confidentiality and prevent misuse of their data.
Another ethical issue is the digital divide and inequitable access to healthcare technology. During the pandemic, the reliance on telehealth and remote consultations has highlighted disparities in access to necessary technology and internet connectivity. Not everyone has equal access to computers, smartphones, or high-speed internet, which can limit individuals' ability to receive adequate healthcare services. This digital divide exacerbates existing healthcare inequalities, disproportionately affecting marginalized communities and individuals with limited resources. Efforts should be made to bridge this gap and ensure equitable access to healthcare technology, particularly during public health emergencies.
Emerging Technologies to Watch: Three emerging technologies to keep an eye on today are:
1. Artificial Intelligence (AI): AI is rapidly advancing and has the potential to transform various industries, including healthcare, transportation, and finance. AI-powered systems can analyze vast amounts of data, recognize patterns, and make informed decisions, enhancing efficiency and accuracy in decision-making processes.
2. Internet of Things (IoT): IoT refers to the network of interconnected devices and objects that can collect and exchange data. IoT has the potential to revolutionize everyday life by enabling smart homes, wearable devices, and connected infrastructure. In healthcare, IoT can facilitate remote patient monitoring, personalized medicine, and efficient resource management in healthcare facilities.
3. Blockchain: Blockchain technology, initially associated with cryptocurrencies like Bitcoin, has broader applications beyond finance. It provides a decentralized and secure way of recording and verifying transactions, data, and contracts. In healthcare, blockchain can enhance data security, interoperability, and patient control over their medical records, while also enabling efficient supply chain management and combating counterfeit drugs.
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Leadership is the ability to influence others to achieve organizational goals. Organizations spend billions of dollars each year to improve the leadership skills of their employees. Leadership skills are needed within organizations to execute the vision, mission, and strategic goals of the organization. Visit the MindTools Web site and complete the short Leadership Skills exercise. Explore your strengths and areas for growth. Step 2 - Post a Response Respond to the following. What are your strengths? Where do you have opportunities to grow your leadership skills? Based on your assessment results, propose three things you can do to improve your leadership skills.
Strengths:
Identifying your strengths in leadership skills is important for leveraging and building upon them. Reflect on your experiences and consider aspects such as effective communication, ability to inspire and motivate others, strategic thinking, problem-solving, decision-making, adaptability, or emotional intelligence.
these strengths can help you focus on areas where you excel as a leader.
Areas for Growth:
Identifying areas for growth is equally important for continuous improvement. Consider areas such as active listening, delegation, conflict resolution, time management, mentoring or coaching skills, building and maintaining relationships, or managing change. Recognizing these areas provides opportunities for development and growth as a leader.
Proposed Actions to Improve Leadership Skills:
1. Seek feedback: Actively seek feedback from colleagues, superiors, and subordinates to gain insights into your leadership strengths and areas for improvement. This feedback can help you understand how your actions are perceived and identify areas to focus on.
2. Continuous learning: Engage in continuous learning by attending workshops, seminars, or leadership development programs. Explore online resources, books, and podcasts on leadership to gain new perspectives, insights, and strategies. Embrace a growth mindset and actively seek out opportunities to learn and expand your knowledge.
3. Practice self-reflection and self-awareness: Regularly reflect on your own leadership behaviors and actions. Develop self-awareness by assessing your strengths and weaknesses, understanding your values and beliefs, and recognizing how they influence your leadership style. This self-reflection can help you identify areas for improvement and guide your personal and professional growth as a leader.
Remember, leadership skills can be developed and refined over time with conscious effort, practice, and a commitment to continuous improvement.
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Suppose you are a website designer who prefers to be paid in the cryptocurrency Bitcoin rather than in USD. Today on March 15, 2022, you make a deal with a client to create them their webs
Here's an example of how you might go about setting up a Bitcoin wallet and making a payment to your client:
Choose a Bitcoin wallet: There are many different types of Bitcoin wallets available, including software wallets, hardware wallets, and mobile wallets. You'll want to choose one that suits your needs and preferences. Popular options include Blockchain.com Wallet, Mycelium Wallet, and Trezor Wallet.
Obtain a Bitcoin address: Once you have chosen a wallet, you'll need to obtain a Bitcoin address to receive payments. This address is similar to a bank account number and is used to send and receive Bitcoin.
Request payment from the client: When your client requests payment, they will need to provide you with their Bitcoin address. You can then transfer the Bitcoin to this address using your wallet.
Verify the payment: Once the payment has been sent, you can verify that it has been received by your wallet. You can do this by checking the transaction history in your wallet or by using a blockchain explorer such as Blockchain.info or CoinGecko.
Complete the project: Once the payment has been received and verified, you can complete the project and provide the client with the finished website.
It's important to note that the process for accepting Bitcoin payments may vary depending on the payment processor you use and the terms of your agreement with the client. Be sure to carefully review any contracts or agreements before accepting payment in Bitcoin.
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Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table Year 1 2 Registrations (000) 3.0 6.0 3 40 4 5 6 7 40 10.0 9.0 7.0 A 90 9 10 11 12.0 16.0 17.0 This exercise contains only parts a db a) Using a 3-year moving average, the forecasted registrations (in thousands) for years 4 through 12 are round your responses to one decimal place) Year 6 7 8 D 10 11 12 9.3 123 15.0 Forecast 43 47 60 b) Using a 3-year weighted moving average in which the registrations in the most recent year are given a weight of 2, and registrations in the other 2 years are each given a weight of 1, the forecasted registrations in thousands) for years 4 through 12 are fround your responses to one decimal place 4 5 0 7 8 9 10 11 12 Year Forecast 2 M W M W W
(a) Using a 3-year moving average, the forecasted registrations (in thousands) for years 4 through 12 are:
Year 4: (3.0 + 6.0 + 40) / 3 = 16.7
Year 5: (6.0 + 40 + 5) / 3 = 17.0
Year 6: (40 + 5 + 6) / 3 = 17.0
Year 7: (5 + 6 + 7) / 3 = 6.0
Year 8: (6 + 7 + 40) / 3 = 17.7
Year 9: (7 + 40 + 10.0) / 3 = 19.0
Year 10: (40 + 10.0 + 9.0) / 3 = 19.3
Year 11: (10.0 + 9.0 + 7.0) / 3 = 8.7
Year 12: (9.0 + 7.0 + 40) / 3 = 18.7
(b) Using a 3-year weighted moving average, where the registrations in the most recent year are given a weight of 2 and registrations in the other 2 years are each given a weight of 1, the forecasted registrations (in thousands) for years 4 through 12 are:
Year 4: ((3.0 * 1) + (6.0 * 1) + (40 * 2)) / 4 = 18.5
Year 5: ((6.0 * 1) + (40 * 2) + (5 * 1)) / 4 = 21.5
Year 6: ((40 * 2) + (5 * 1) + (6 * 1)) / 4 = 27.0
Year 7: ((5 * 1) + (6 * 1) + (7 * 2)) / 4 = 11.0
Year 8: ((6 * 1) + (7 * 2) + (40 * 1)) / 4 = 20.0
Year 9: ((7 * 1) + (40 * 1) + (10.0 * 2)) / 4 = 22.0
Year 10: ((40 * 1) + (10.0 * 2) + (9.0 * 1)) / 4 = 23.0
Year 11: ((10.0 * 1) + (9.0 * 1) + (7.0 * 2)) / 4 = 12.0
Year 12: ((9.0 * 1) + (7.0 * 2) + (40 * 1)) / 4 = 20.0
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Listen Which of the following is not a barrier to increasing employee involvement? a) a knowledge gap between union an employer leaders b) an adversarial relationship between the parties c) labour relations legislation d) the inability of employees to be involved and remain loyal to the union e) attitudes and beliefs of unions and employers
Labour relations legislation is not a barrier to increasing employee involvement.
Labour relations legislation refers to the laws and regulations that govern the relationship between employers, employees, and labor unions. While labour relations legislation may outline certain rights, responsibilities, and procedures for employee involvement, it is not inherently a barrier to increasing employee involvement. In fact, labour relations legislation often provides a framework for promoting and protecting employee rights and participation in decision-making processes.
On the other hand, the knowledge gap between union and employer leaders, an adversarial relationship between the parties, the inability of employees to be involved and remain loyal to the union, and attitudes and beliefs of unions and employers can act as barriers to increasing employee involvement. These factors can create conflicts, lack of trust, and resistance to change, making it difficult to foster a culture of employee involvement and engagement in decision-making processes within the organization.
While labour relations legislation sets the legal framework within which employee involvement takes place, it is not a direct barrier to increasing employee involvement. Instead, it provides guidelines and protections to ensure fair and equitable practices in labor relations.
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If county A has a higher rate of inflation compared to country B this means that:
Country A’s currency appreciates
Country B’s currency appreciates
Country A’s currency depreciates
Country B’s currency depreciates
Currencies of both countries appreciate
This is because the purchasing power of a unit of currency in such countries diminishes, as goods and services become more expensive.
If county A has a higher rate of inflation compared to country B, this means that Country A’s currency depreciates. The reason behind this phenomenon is that if Country A has a higher inflation rate, the price of goods and services will increase at a faster rate compared to Country B. As a result, there will be a decrease in the purchasing power of the Country A currency. With the same amount of currency, a person in Country A can buy fewer goods than a person in Country B.
In contrast, if the inflation rate of Country B is higher compared to Country A, Country B’s currency depreciates. In this case, goods and services will increase in price at a faster rate compared to Country A. As a result, the purchasing power of the Country B currency decreases.
With the same amount of currency, a person in Country B can buy fewer goods than a person in Country A.A higher inflation rate in a country tends to lead to a decline in its currency value relative to others.
This has the effect of making imports cheaper, but it also makes it more expensive for that country to export products, making exports less competitive.
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Which of the following is NOT an option for the IRS tax compliance auditor when it is determined that taxes wereunderpaid?
Civil fines can be assessed.
Penalties can be levied.
The case can be referred to the IRS's Criminal Investigation Division.
Charges can be pressed in the courts.
: Charges can be pressed in the courts.
When it is determined that taxes were underpaid, the IRS tax compliance auditor has the authority to take various actions.
include assessing civil fines, levying penalties, and referring the case to the IRS's Criminal Investigation Division if there is suspicion of criminal activity related to tax evasion or fraud.
However, the IRS tax compliance auditor does not have the authority to press charges in the courts. The decision to pursue criminal charges ultimately rests with the appropriate legal authorities, such as the Department of Justice, who would handle any potential criminal prosecution related to tax offenses. The IRS's role is primarily focused on the assessment and collection of taxes, as well as ensuring compliance with tax laws through audits and penalties.
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Suppose the budget constraint is given by 200P + 50S = 400, where P is pizza and S is spinach. If the prices of S and P increase by 10% each then the budget curve will shift to the A) Right with the same slope B) left with the same slope C) Right but the slope will be different than before D) Left but the slope will be different than before Say a consumer always consumed peanut butter and jelly in fixed proportions (for a perfect peanut and jelly sandwich). Then the indifference curves for peanut butter and jelly for this consumer would be A )L shaped B) A straight line with positive slope C) A straight line with negative slope D) Convex
left with the same slope and Option D: ConvexExplanation:Budget Constraint is given as 200P + 50S = 400.Now, Prices increase by 10% then the new Budget Constraint becomes 220P + 55S = 400,Here, the budget constraint is in terms of P and S,So, by putting the values of P and S in the equation we will get the graph as shown below:Therefore, the budget curve will shift to the left with the same slope.
Hence, option B is correct.For the second part of the question, a consumer always consumed peanut butter and jelly in fixed proportions (for a perfect peanut and jelly sandwich), then the indifference curves for peanut butter and jelly for this consumer would be Convex. Therefore, option D is correct.Long Answer:Budget Constraint: A budget constraint is a visual representation of how a change in the price of one product affects the quantity demanded of another product, given that consumer income and the price of the other product remain constant. A budget line is the graph of this relationship. The budget line is typically a straight line.
If the price of one product increases, the budget line will rotate inward, and if it decreases, the budget line will rotate outward. In this situation, prices of S and P are increased by 10% each. Hence, the new budget line is 220P + 55S = 400. As the budget line is in terms of P and S, we can assume the values of P and S and get the following values.1. If P=0, then the value of S will be 400/55 = 7.272. If S=0, then the value of P will be 400/220 = 1.81Now we have two points (0,7.27) and (1.81,0) which we can plot on a graph and then connect it to obtain the budget line. Then, the shift in the budget line can be observed.The shape of the Indifference curve: Indifference curve is a graph of all possible combinations of two commodities that a consumer is indifferent to. It is also called an iso-utility curve or an equal satisfaction curve. The shape of the indifference curve depends on the nature of the goods. It can be straight, convex, or concave. If the goods are perfect substitutes, then the indifference curve is straight. If the goods are perfect complements, then the indifference curve is L-shaped. If the goods are neither perfect substitutes nor complements, then the indifference curve is convex, and if the goods are substitutes, then the indifference curve is concave.
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Job-lock has been a serious problem for those with pre-existing conditions, because they cannot move onto another/new job out of fear of losing their coverage. The following laws have significantly reduced this problem. Please choose all that apply. Group of answer choices A) PSDA B)PPACA C)Hill Burton Act D)ADA E)HIPAA
The laws that have significantly reduced the problem of job-lock for those with pre-existing conditions are:
B) PPACA (Patient Protection and Affordable Care Act)
E) HIPAA (Health Insurance Portability and Accountability Act)
The PPACA, also known as Obamacare, introduced several provisions to protect individuals with pre-existing conditions. It prohibits health insurers from denying coverage or charging higher premiums based on pre-existing conditions. It also established health insurance marketplaces where individuals can compare and purchase insurance plans regardless of their health status.
HIPAA, on the other hand, ensures portability and continuity of health coverage for individuals who switch jobs. It restricts the ability of group health plans to exclude coverage for pre-existing conditions when an individual transitions from one job to another.
The other options mentioned, PSDA (Patient Self-Determination Act), Hill Burton Act, and ADA (Americans with Disabilities Act), are important laws in the healthcare field but do not specifically address the issue of job-lock for individuals with pre-existing conditions.
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In a particular economy, currency held by the public is 1,000 shekels, bank reserves are 200 shekels, and the desired reserve-deposit ratio is 0.2. what is the money supply? How is the money supply affected if the central bank prints 100 shekels and uses this new currency to buy government bonds from the public? Assume that the public does not wish to change the amount of currency it holds.
In a particular economy, if the currency held by the public is 1,000 shekels, the bank reserves are 200 shekels, and the desired reserve-deposit ratio is 0.2, the money supply is $<<800=1,000-200>>800$ shekels.
If the central bank prints 100 shekels and uses this new currency to buy government bonds from the public, the money supply will increase by $100\cdot\frac{1}{0.2} = 500$ shekels. The money supply will increase by $100\cdot\frac{1}{0.2}=500$ shekels. The money supply will rise by five times the amount of the new money created.
This occurs since the ratio of reserves to deposits is 0.2, therefore 100 new shekels will generate an additional 400 shekels of new money. This increase in the money supply occurs since the central bank acquires the bonds by issuing new currency to the public and increasing the money supply.
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5. What are industry examples of a specific risk management requirement in the preventive action clause?
One industry example of a specific risk management requirement in the preventive action clause is the healthcare industry's focus on infection control and prevention.
In this context, a risk management requirement could include implementing measures to prevent the spread of healthcare-associated infections (HAIs) within healthcare facilities.
Healthcare organizations are required to establish comprehensive infection control programs that identify potential risks and implement preventive measures. This includes conducting regular risk assessments, implementing proper hand hygiene protocols, ensuring proper disinfection and sterilization practices, monitoring and managing the use of antibiotics, and implementing effective isolation procedures. These preventive actions aim to minimize the risk of HAIs and protect the health and safety of patients, healthcare workers, and visitors.
Another example can be found in the manufacturing industry, specifically in the context of product quality and safety. Manufacturers are often required to implement preventive actions to mitigate the risk of product defects or failures that could pose safety hazards to consumers. This may involve implementing quality control measures throughout the production process, conducting regular inspections and testing, implementing corrective actions based on identified risks, and ensuring compliance with relevant industry standards and regulations.
Overall, specific risk management requirements in the preventive action clause can vary across industries depending on the nature of the risks involved. The key principle is to identify potential risks, establish measures to prevent them, and continuously monitor and evaluate the effectiveness of these preventive actions to ensure a safe and secure operating environment.
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Partners A and B share profits and losses equally and have capital balances of $50,000 and $70,000 respectively. Partner C is admitted and acquired a 30 percent interest in the capital of the new partnership by investing $60,000 in cash. What is the new capital balance of Partner B after admitting the new partner assuming the partners agreed to revalue the assets of the A & B partnership?
the answer is not 73000
The new capital balance of Partner B, after admitting Partner C and revaluing the assets, would be $116,666.67.
After admitting Partner C and revaluing the assets of the A & B partnership, the new capital balance of Partner B can be calculated as follows:
Partner A's capital balance before revaluation: $50,000
Partner B's capital balance before revaluation: $70,000
Partner C invests $60,000 and acquires a 30% interest in the new partnership. This implies that the total capital of the new partnership is $60,000 divided by 30%, which is $200,000.
To revalue the assets, the total capital of the partnership is adjusted to $200,000. Therefore, Partner A's capital balance after revaluation would be ($50,000 / $120,000) x $200,000 = $83,333.33.
Partner B's capital balance after revaluation would be ($70,000 / $120,000) x $200,000 = $116,666.67.
So, the new capital balance of Partner B, after admitting Partner C and revaluing the assets, would be $116,666.67.
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True or false:
1.Supervisors' wages are a product-level activity.
2.In an organization that makes furniture, direct labor is high value-added.
3.Square footage would be an appropriate cost driver of supplies used in the factory.
4.In a volume-based costing system, dual allocation combines fixed and variable overhead allocation.
5.Opportunity costs are not relevant for decision making.
1. False: Supervisors' wages are not a product-level activity because they are indirect costs. Instead, they are a period-level activity.2. True: Direct labor is a high value-added activity in the organization that manufactures furniture. It involves labor costs directly associated with the production of goods.
3. False: The square footage is an inappropriate cost driver of supplies used in the factory. A suitable cost driver could be labor hours or machine hours used in the production of furniture.4. False: In a volume-based costing system, dual allocation does not combine fixed and variable overhead allocation.
It involves two-stage allocation that first allocates the overhead to the departments before allocating them to the products.5. False: Opportunity costs are relevant for decision making. Opportunity cost refers to the potential benefit that a business foregoes by choosing one option over another. Thus, considering opportunity cost helps decision-makers in selecting the most profitable option based on all the costs involved.
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