The statement is true. If you rate shop within a 60-day window, it will only count as one inquiry on your credit report.
When you apply for credit, such as a loan or credit card, the lender typically requests your credit report from a credit bureau. Each time a lender requests your credit report, it is recorded as an inquiry on your credit history. Multiple inquiries within a short period can potentially have a negative impact on your credit score.
However, there is a practice known as rate shopping that allows consumers to compare loan or credit card offers from multiple lenders without it significantly impacting their credit scores. Under the rate shopping rule, if you make inquiries for the same type of credit within a specific timeframe, typically 14 to 45 days but can vary depending on the credit scoring model, those inquiries are treated as a single inquiry.
In the case of rate shopping within a 60-day window, it is true that the inquiries will only count as one on your credit report. This is beneficial for consumers as it allows them to shop around for the best loan or credit card terms without having multiple inquiries negatively affect their credit scores.
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1. Why is sport management such a competitive field, and how can you prepare yourself for success?
2. What are some resources that you could use in seeking employment in sport management?
3. Identify 3 skills you currently feel you are above average in proficiency that will help you succeed in the sport management field. Explain why.
4. Identify 5 skills you need to improve on or learn in order to succeed in the sport management field. What steps will you need to take to develop or learn those skills?
5. Identify 1 person in the sport industry that would serve as a role model for you. Explain
The sports industry has grown to be more than just sports teams playing in games, but now includes merchandise sales, broadcasting, advertising, sponsorships, and ticket sales, among others. Preparing yourself for success in the sports management field would require gaining more knowledge about the industry.
getting hands-on experience through internships, volunteering or part-time work, and developing soft skills such as networking, communication, and problem-solving. Building a network of industry contacts is critical and attending sports industry conferences, seminars, and workshops could provide valuable opportunities to meet people and gain more knowledge.
Some resources that one could use in seeking employment in sport management include online job boards such as Indeed and Glassdoor, professional networking sites like LinkedIn, sports industry conferences and seminars, personal networking.
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Assume the marginal propensity to consume (MPC) is 0.75 and
consumption is $600 million when income equals to zero and
autonomous investment is $300 million. What is the value of
national income?
Aggregate expenditure (AE) is equal to national income (Y), we can conclude that the value of national income is $900 million.
To find the value of national income, we can use the formula for aggregate expenditure (AE):
AE = C + I + G + (X - M)
Where:
C = consumption
I = investment
G = government spending
X = exports
M = imports
In this case, the question provides us with the values for consumption (C) and investment (I), but not for government spending, exports, or imports. However, we can assume that they are not given because they are not relevant to the calculation.
Given that the marginal propensity to consume (MPC) is 0.75, we can calculate the value of consumption (C) using the formula:
C = MPC * (Y - T)
Where:
Y = national income
T = taxes
In the question, it states that consumption is $600 million when income equals zero. This implies that taxes are also zero. Substituting these values into the equation, we have:
$600 million = 0.75 * (0 - 0)
Simplifying the equation, we get:
$600 million = 0.75 * 0
Since any number multiplied by zero is zero, we can conclude that the value of consumption (C) is zero when national income (Y) is zero.
Now, let's find the value of national income (Y) using the equation for aggregate expenditure:
AE = C + I
Substituting the given values into the equation, we have:
AE = $600 million + $300 million
Simplifying the equation, we get:
AE = $900 million
Since aggregate expenditure (AE) is equal to national income (Y), we can conclude that the value of national income is $900 million.
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In a perfectly competitive labor market, employers will not pay more than the market wage because: there would be a shortage of workers at a wage above equilibrium. good workers would go to other firms. plenty of good workers are available at the market wage. other firms would also pay the higher wage.
In a perfectly competitive labor market, the wage rate is determined by the interaction between the demand for labor and the supply of labor. The equilibrium wage rate is the wage rate that equates the quantity of labor demanded by firms with the quantity of labor supplied by workers.
Employers in a perfectly competitive labor market will not pay more than the market wage because plenty of good workers are available at the market wage. If an employer tries to pay more than the market wage to attract more workers, other firms will do the same. This will cause the wage rate to increase until it reaches the market equilibrium wage rate.
At a wage rate above the equilibrium wage rate, there will be a surplus of labor, meaning that there will be more workers willing to work at that wage rate than there are jobs available. This will cause the wage rate to fall back down to the equilibrium wage rate, as firms will be able to hire workers at a lower wage rate.
Therefore, employers will not pay more than the market wage because plenty of good workers are available at the market wage. This is because if they try to pay more than the market wage, they will not be able to attract more workers, as other firms will also be paying the same higher wage rate.
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Khaled has developed a new technology device that is so exciting he is considering quitting his job in order to produce and market it on a large-scale basis Khaked will rent a small factory for 2,000dhs per month for production purposes. Utilites will cost 500dh per month. Khaled has already taken an industrial design course at Dubai Men's College to help prepare for this venture. The course cost 800 dhs. Khaled will rent production equipment at a monthly cost of 4,000 dhs. He estimates the material cost per unit will be 20dhs, and the labor cost will be 10 dhs per unit He will hire workers and spend his time promoting the product. To do this he will quit his job which pays 20,000 dhs per month Advertising and promotion will cost 3.500dh per month Required 2. Calculate the sotal Fixed cost = 3- Calculate the total variable cost per unit: 4. If the machine max production capacity is 1000 units per month, what is the selling price he should set to break even monthiy? 5. If Khaled to eam a profit equal to his current salary, for how much he should sell the unit?= 6- What is the fixed cost per unit for maximum production? 7. What is the total variable cost for maximum production?= 8- iff Khalid set the selling price for 70 DHS on max production and managed to reduce the total foced cost by 2% what is the profit increase percentagen 9. If Khalid set the sellina price for 700HS on max production and managed to reduce the total variable cost by 2% what is the proft increase percentage=
The selling price for 700dhs on maximum production and manages to reduce the total variable cost by 2%, we need to calculate the new total variable cost.
The new total variable cost is 30,000dhs - (2% of 30,000dhs) = 29,400dhs.
1. To calculate the total fixed cost, we add up the costs that do not change regardless of the number of units produced.
In this case, the total fixed cost is the sum of the rent for the factory, the cost of the industrial design course, and the monthly cost of renting production equipment. So, the total fixed cost is 2,000dhs + 800dhs + 4,000dhs = 6,800dhs.
2. The total variable cost per unit is the sum of the material cost per unit and the labor cost per unit. So, the total variable cost per unit is 20dhs + 10dhs = 30dhs.
3. To calculate the selling price required to break even monthly, we need to consider the total fixed cost and the total variable cost per unit. Since the machine's maximum production capacity is 1000 units per month, the total variable cost for 1000 units would be 30dhs * 1000 units = 30,000dhs.
4. To earn a profit equal to his current salary, Khaled needs to consider his current salary of 20,000dhs per month. Since the total fixed cost remains the same, the total variable cost per unit remains the same as well.
5. The fixed cost per unit for maximum production is calculated by dividing the total fixed cost by the maximum production capacity. In this case, the fixed cost per unit is 6,800dhs / 1000 units = 6.8dhs.
6. The total variable cost for maximum production is calculated by multiplying the total variable cost per unit by the maximum production capacity. In this case, the total variable cost for maximum production is 30dhs * 1000 units = 30,000dhs.
7. If Khaled sets the selling price for 70dhs on maximum production and manages to reduce the total fixed cost by 2%, we need to calculate the new total fixed cost. The new total fixed cost is 6,800dhs - (2% of 6,800dhs) = 6,656dhs.
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nsurance policy. The company will pay all of the premiums: $3,900 2. Employment related expenses for 2021 are estimated to be as follows: Hotels $11,800 Air Travel $8,300 Meals incurred while travelling $8,800 Advertising and Promotion $19,000 Entertaining Clients $5,700 3. Whether it is the employer's automobile or her own personal vehicle, she would use the car throughout all of 2021. 57,000 KM are estimated to be driven in total for 2021 44,000 KM are anticipated by Ms. Jackson to be related to employment activities. 4. Ms. Jackson will be required to provide a home office where she will have a separate room used exclusively to meet clients on a regular basis. The employer will sign and provide a T2200 for the year. The annual costs related to her home are provided below: House Insurance $1,200 Property Taxes $4,000 House Heating Costs $2,500 Mortgage Interest $18,800 House Power Costs $2,200 Painting (office space) $160 Purchase of Laptop Computer $2,500 Total Square Footage of Personal House: 2,000 Total Square Footage of Home Office: 150 Required: 1. (a) Calculate Ms. Jackson's minimum Net Employment Income for the year ending December 31, 2021 for the employment offer from Company A.(provide all calculations and explanations) 1. (b) Calculate Ms. Jackson's minimum Net Employment Income for the year ending December 31, 2021 for the employment offer from Company B. (provide all calculations and explanations) 2. Explain one advantage and one disadvantage from each employment offer.
To calculate Ms. Jackson's minimum for the year ending December 31, 2021, we needed Employment Income. Jackson's minimum Net Employment Income for the year ending December 31, 2021, is $34,550.
(a) Calculation for Company A: To determine Ms. Jackson's minimum Net Employment Income for Company A, we need to consider the following expenses and deductions:
Insurance Policy: The company will pay all premiums, so this expense will not affect her income.
Employment-Related Expenses: We will consider the deductible expenses for Company A. Hotels: Not deductible for tax purposes.
Air Travel: Deductible.
Meals incurred while traveling: Deductible at 50%.
Advertising and Promotion: Deductible.
Entertaining Clients: Deductible at 50%.
Automobile Expenses: Total Kilometers Driven: 57,000 KM
Kilometers Related to Employment Activities: 44,000 KM
Home Office Expenses: Square Footage of Home Office: 150
Total Square Footage of Personal House: 2,000
Using the above information, we can calculate Ms. Jackson's minimum Net Employment Income for Company A. Air Travel: $8,300
Meals incurred while traveling: $8,800 * 50% = $4,400
Advertising and Promotion: $19,000
Entertaining Clients: $5,700 * 50% = $2,850
Total Deductible Expenses: $8,300 + $4,400 + $19,000 + $2,850 = $34,550
Kilometers related to employment activities: 44,000 KM
Using the prescribed automobile expenses per kilometer, we can calculate the deductible automobile expenses:
$0.59 per kilometer for the first 5,000 KM
$0.53 per kilometer for additional kilometers
Deductible Automobile Expenses: (5,000 KM * $0.59) + ((44,000 KM - 5,000 KM) * $0.53) = $23,30
The proportion of Home Office Space: 150 sq ft / 2,000 sq ft = 0.075
Deductible Home Office Expenses:
House Insurance: $1,200 * 0.075 = $90
Property Taxes: $4,000 * 0.075 = $300
House Heating Costs: $2,500 * 0.075 = $187.50
Mortgage Interest: $18,800 * 0.075 = $1,410
House Power Costs: $2,200 * 0.075 = $165
Total Deductible Home Office Expenses: $90 + $300 + $187.50 + $1,410 + $165 = $2,152.50
Finally, we can calculate Ms. Jackson's minimum Net Employment Income for Company A:
Gross Employment Income - Deductible Expenses
Gross Employment Income: Provided information is missing the gross employment income for Company A. Please provide the gross income to proceed with the calculation.
(b) Calculation for Company B:
Similarly, we need the gross employment income for Company B to calculate the net employment income. Please provide the gross income for Company B.
Advantages and disadvantages of each employment offer:
The advantages and disadvantages of each employment offer would depend on various factors such as salary
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What initiatives would you organize together with Touristic actors such as hotels and DMCs? What are the val
When organizing initiatives with touristic actors such as hotels and DMCs, there are several valuable opportunities to consider. Here are a few initiatives you could organize together:
1. Collaborative marketing campaigns: Develop joint marketing campaigns to promote the destination, showcasing the unique offerings of hotels and DMCs. This can include social media collaborations, content partnerships, and cross-promotions to reach a wider audience.
2. Training and workshops: Organize training sessions and workshops for hotel staff and DMC employees to enhance their skills and knowledge. This can cover topics such as customer service, cultural sensitivity, sustainability practices, and destination expertise.
3. Sustainable tourism initiatives: Work together to implement sustainable practices within the tourism industry. This can involve initiatives like waste reduction, energy conservation, water management, and promoting local and responsible tourism activities.
4. Product development: Collaborate on developing new tourism products and experiences that cater to different types of travelers. This can include packages that combine accommodation, tours, and activities, tailored to specific target markets or niche segments.
5. Tourism research and data sharing: Conduct research and share valuable data to understand tourism trends, visitor preferences, and market demands. This information can be used to improve services, identify new opportunities, and make data-driven decisions.
By organizing these initiatives together, touristic actors such as hotels and DMCs can benefit from increased visibility, improved service quality, and a more sustainable and competitive tourism industry.
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Production Possibility Frontier Points For country A, the opportunity cost of producing ONE X is 3Y S 2/3YS 5Ys 5/2γs What is true about this situation? The opportunity cost for 1 Cheese for England is 5 units of wine England has the absolute advantage in producing both goods France will export Cheese because it has comparative advantage in making Cheese England will export Cheese because it has comparative advantage in making Cheese France will export Wine because it has absolute advantage in making Wine England will export Wine because it has absolute advantage in making Wine
In this situation, France will export Cheese because it has a comparative advantage in making Cheese.
The opportunity cost is a key concept in determining comparative advantage. The opportunity cost represents the amount of one good that must be given up to produce an additional unit of another good. In this case, the opportunity cost of producing ONE X (Cheese) is 3Y (units of Y) for country A.
Comparative advantage refers to a country's ability to produce a good at a lower opportunity cost compared to another country. Based on the given information, the opportunity cost for country A to produce ONE X (Cheese) is 3Y.
Therefore, country A has a higher opportunity cost of producing Cheese compared to country B, which means country B (France) has a comparative advantage in making Cheese.
Since France has a comparative advantage in making Cheese, it will export Cheese to country A. Comparative advantage determines which country specializes in the production of a particular good and benefits from trade by exporting that good.
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If McDonald's Corp. had earnings of $4,986,320,000 in the last year, calculate the Price to Earnings ratio assuming the price per share is $54.7 and there are 1,126,600,000 shares outstanding. Choose the closest value. 11 12 20 91,000,000
If McDonald's Corp. had earnings of $4,986,320,000 in the last year, calculate the Price to Earnings ratio assuming the price per share is $54.7 and there are 1,126,600,000 shares outstanding. The closest value is 12, so the Price to Earnings ratio is 12.
To calculate the Price to Earnings (P/E) ratio, you need to divide the market price per share by the earnings per share. The formula is:
P/E ratio = Market Price per Share / Earnings per Share
First, calculate the earnings per share by dividing the total earnings by the number of shares outstanding:
Earnings per Share = Total Earnings / Number of Shares Outstanding
Earnings per Share = $4,986,320,000 / 1,126,600,000
Earnings per Share ≈ $4.42
Now, you can calculate the P/E ratio by dividing the market price per share by the earnings per share:
P/E ratio = $54.7 / $4.42
P/E ratio ≈ 12.39
The closest value is 12, so the Price to Earnings ratio is 12.
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john and peggy recently bought a house. They financed the house with a R125000, 30-year mortgage with a nominal interest rate of 7%. Mortgage payments are made at the end of each month. What total dollar amount of their mortgage payments during the first three years will go towards repayment of principal. Do not use excel
To calculate the total dollar amount of John and Peggy's mortgage payments that will go towards repayment of principal during the first three years, we need to first calculate the monthly mortgage payment using the loan amount, interest rate, and loan term.
To find the monthly interest rate, we divide the nominal interest rate by 12 (number of months in a year): 7% / 12 = 0.5833%. To find the number of months in the loan term, we multiply the number of years by 12: 30 years * 12 = 360 months. Using the formula for calculating the monthly mortgage payment (PMT), we can find the principal portion of the payment.
Now that we have the monthly mortgage payment, we can calculate the total principal repayment during the first three years. First, we need to find the number of payments made in three years the total dollar amount of John and Peggy's mortgage payments that will go towards repayment of principal during the first three years is approximately.
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ind the future values of the following ordinary annulties: a. FV of $400 gaid each 6 months for 5 years at a nominal rate of 15% compounded semiannually. Do not round intermediate calculations. Round your answer to the nearest cent. \$ b. FV of $200 pald each 3 months for 5 years at a nominal rate of 15% compounded quarterly, Do not round intermediate calculations. Hound your answer to the nearest cent. C. These annuities receive the same amount of cahh duiring the s-year period and eam interest at the same nominal rate, yet the annuity in part b ends up larger than the one in part a. Why does this occur?
The future values of the annuities can be calculated using the formula mentioned above. The frequency of compounding affects the final future value of the annuity, with more frequent compounding leading to a higher future value.
The future value of an ordinary annuity can be calculated using the formula[tex]:FV = P * [(1 + r/n)^(n*t) - 1] / (r/n)[/tex]
Where:
FV is the future value
P is the payment amount
r is the nominal annual interest rate
n is the number of compounding periods per year
t is the number of years
a. To find the future value of the annuity where $400 is paid every 6 months for 5 years at a nominal rate of 15% compounded semiannually, we can substitute the values into the formula:
P = $400
r = 15% = 0.15
n = 2 (compounded semiannually)
t = 5
[tex]FV = $400 * [(1 + 0.15/2)^(2*5) - 1] / (0.15/2)[/tex]
Simplifying the equation will give you the future value.
b. To find the future value of the annuity where $200 is paid every 3 months for 5 years at a nominal rate of 15% compounded quarterly, we can use the same formula:
P = $200
r = 15% = 0.15
n = 4 (compounded quarterly)
t = 5
[tex]FV = $200 * [(1 + 0.15/4)^(4*5) - 1] / (0.15/4)[/tex]
Simplifying the equation will give you the future value.
c. The reason the annuity in part b ends up larger than the one in part a is because the compounding periods are different. Compounding more frequently (quarterly in part b) allows for more frequent accumulation of interest on the annuity payments, resulting in a larger future value.
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Define the following terms: a. Trading Cities b. Comparative Advantage c. Absolute Advantage d. Labor Productivity 2. Explain factors contributing to labor productivity among regions and how it can lead to development of cities?
a. Trading Cities: Urban areas that serve as important hubs for commercial activities, facilitating trade and exchange of goods between different regions or countries.
b. Advantage: The ability of a country or region to produce a particular good or service at a lower opportunity cost compared to other countries or regions, enabling them to specialize in producing and exporting that good or service.
c. Absolute Advantage: When a country or region can produce a good or service more efficiently and with fewer resources than another country or region.
d. Labor Productivity: A measure of the efficiency and output per unit of labor input, indicating how much a worker produces in a given time period.
Factors contributing to labor productivity among regions include technological advancements, access to education and skills training, infrastructure development, efficient production processes, and supportive government policies. These factors can enhance workers' skills, provide better tools and machinery, improve transportation and communication networks, and create a conducive environment for economic activities.
Labor productivity can lead to the development of cities in several ways. Firstly, higher labor productivity attracts business and investments, as it implies higher output and profitability. This leads to job creation and economic growth, attracting more people to migrate to cities in search of employment opportunities.
Secondly, increased labor productivity often results in higher wages, improving living standards for workers. This can stimulate consumer demand, leading to the growth of local markets and the development of various industries and services in cities.
Thirdly, cities benefit from economies of scale and agglomeration effects. Concentration of industries and business in urban areas allows for knowledge spillovers, specialization, and efficient supply chains. This clustering effect further enhances productivity and innovation, attracting more firms and workers to cities.
Overall, labor productivity contributes to the growth and development of cities by fostering economic prosperity, improving living standards, and creating a dynamic environment for innovation and entrepreneurship.
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You will receive a payment of $100 by the end of each year for 5 years. What is the present value of this annuity given an interest rate of 5%?
The present value of this annuity, given an interest rate of 5%, is $432.97.
The present value of an annuity can be calculated using the formula:
PV = PMT * (1 - (1 + r)^-n) / r
where PV is the present value, PMT is the payment received each year, r is the interest rate, and n is the number of years.
In this case, the payment received each year is $100, the interest rate is 5% (or 0.05), and the annuity lasts for 5 years.
Plugging these values into the formula:
PV = $100 * (1 - (1 + 0.05)^-5) / 0.05
Calculating the exponential part first:
(1 + 0.05)^-5 = 0.783526166
Substituting this value back into the formula:
PV = $100 * (1 - 0.783526166) / 0.05
Simplifying:
PV = $100 * 0.216473834 / 0.05
PV = $432.97
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You have taken out a loan, but you will not have to start making payments until period 3. From period 3-7 you will make
It is important to carefully read and understand the terms of your loan agreement to ensure that you make the appropriate payments at the appropriate times. This will help you to avoid late fees and additional charges that may be imposed by the lender.
If you have taken out a loan, but will not have to start making payments until period 3, from period 3-7, you will make interest payments. Interest payments are the amount of money that a borrower pays to a lender for borrowing a sum of money. The amount of interest charged depends on the principal amount borrowed, the interest rate charged by the lender, and the duration of the loan. Typically, interest payments are made in addition to the principal payments that are made over the life of the loan.In this scenario, since you will not have to start making payments until period 3, you will not be required to make any principal payments during this time.
Instead, you will be required to make interest payments during the period from 3-7. During this period, the lender will charge you interest on the principal amount of the loan, which will accumulate until you make your first principal payment in period 8. To avoid accumulating interest during the period from 3-7, you may choose to make interest-only payments. This means that you will only pay the interest that is due on the loan, rather than paying the principal amount as well. Overall, it is important to carefully read and understand the terms of your loan agreement to ensure that you make the appropriate payments at the appropriate times. This will help you to avoid late fees and additional charges that may be imposed by the lender.
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Cost Classifications (Algo) [The following information applies to the questions displayed below] Kubin Company's relevant range of production is 17,000 to 26,500 units. When it produces and sells 21,750 units, its average costs per unit are as follows: Direct materials Direct labor variable manufacturing overhead Fixed manufacturing overhead Fixed selling expense Fixed administrative expense Sales commissions Variable administrative expense Average Cost per Unit $7.00 $4.80 $2.30 $5.00 $4.30 53.30 $1.30 $1.30 Exercise 1-9 (Algo) Fixed, Variable, and Mixed Costs (LO1.4) Required: 1. f 17.000 units are produced and sold, what is the variable cost per unit produced and sold? 2.126.500 units are produced and sold, what is the variable cost per unit produced and sold? 3. 1 17.000 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 4 1 26,500 units are produced and sold, what is the total amount of variable cost related to the units produced and sold? 5.1 17,000 units are produced, what is the average fixed manufacturing cost per unit produced? 6.26.500 units are produced, what is the average fixed manufacturing cost per unit produced? 7.1 17,000 units are produced, what is the total amount of fixed manufacturing overhead incurred to support this level of production? 8.1 26.500 units are produced, what is the total amount of fixed manufacturing overhead incurred to support this level of production? (Round per unit values to 2 decimal places.) 17.000 Units 26,500 Units 1. & 2. Variable cost per unit produced and sold 3.& 4. Total amount of variable cost related to units produced and sold 5. & 6. Average fixed manufacturing cost per unit produced 7. & 8. Total amount of fixed manufacturing overhead
To calculate the required values, we'll refer to the given average costs per unit:
Direct materials: $7.00
Direct labor: $4.80
Variable manufacturing overhead: $2.30
Fixed manufacturing overhead: $5.00
Fixed selling expense: $4.30
Fixed administrative expense: $53.30
Sales commissions: $1.30
Variable administrative expense: $1.30
Now, let's calculate the values for each question:
If 17,000 units are produced and sold, the variable cost per unit produced and sold is the sum of direct materials, direct labor, and variable manufacturing overhead costs. Therefore:
Variable cost per unit produced and sold = Direct materials + Direct labor + Variable manufacturing overhead
= $7.00 + $4.80 + $2.30
= $14.10
If 26,500 units are produced and sold, the variable cost per unit produced and sold remains the same as calculated above:
Variable cost per unit produced and sold = $14.10
If 17,000 units are produced and sold, the total amount of variable cost related to the units produced and sold is the variable cost per unit produced and sold multiplied by the number of units:
Total variable cost = Variable cost per unit produced and sold * Number of units produced and sold
= $14.10 * 17,000
= $239,700
If 26,500 units are produced and sold, the total amount of variable cost related to the units produced and sold remains the same as calculated above:
Total variable cost = $239,700
If 17,000 units are produced, the average fixed manufacturing cost per unit produced is calculated by subtracting the variable cost per unit produced and sold from the average cost per unit:
Average fixed manufacturing cost per unit produced = Average cost per unit - Variable cost per unit produced and sold
= $53.30 - $14.10
= $39.20
If 26,500 units are produced, the average fixed manufacturing cost per unit produced remains the same as calculated above:
Average fixed manufacturing cost per unit produced = $39.20
If 17,000 units are produced, the total amount of fixed manufacturing overhead incurred to support this level of production is calculated by multiplying the average fixed manufacturing cost per unit produced by the number of units:
Total fixed manufacturing overhead = Average fixed manufacturing cost per unit produced * Number of units produced
= $39.20 * 17,000
= $667,400
If 26,500 units are produced, the total amount of fixed manufacturing overhead incurred to support this level of production remains the same as calculated above:
Total fixed manufacturing overhead = $667,400
(Rounded per unit values to 2 decimal places.)
Summary of Results:
& 2. Variable cost per unit produced and sold: $14.10
& 4. Total amount of variable cost related to units produced and sold: $239,700
& 6. Average fixed manufacturing cost per unit produced: $39.20
& 8. Total amount of fixed manufacturing overhead: $667,400
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What is the value lodoy of a series of $1,275 payments, to be received of the end of eoch month for 4 yeans, when dilicounted at b percent?
Using an interest rate of 5%, but the actual value would depend on the specific interest rate ("b") given in the problem.
The value, or present value, of a series of 1,275 payments received at the end of each month for 4 years, when discounted at "b" percent, can be calculated using the formula for the present value of an ordinary annuity.
The formula for the present value of an ordinary annuity is:
PV = PMT x (1 - (1 + r)^(-n)) / r
where PV is the present value, PMT is the payment amount, r is the interest rate per period, and n is the number of periods.
In this case, the payment amount (PMT) is 1,275, the interest rate per period (r) is b percent, and the number of periods (n) is 4 years.
To find the value (PV), you would substitute these values into the formula and solve for PV.
Here's an example:
Let's say the interest rate per period (b) is 5%. We would convert this to a decimal by dividing by 100, so b = 0.05.
Using the formula, the present value (PV) would be:
PV = 1,275 x (1 - (1 + 0.05)^(-4)) / 0.05
Simplifying the calculation, we get:
PV = 1,275 x (1 - (1.05)^(-4)) / 0.05
PV = 1,275 x (1 - 0.8227) / 0.05
PV = 1,275 x 0.1773 / 0.05
PV = 1,275 x 3.546
PV = 4,518.75
So, the value (or present value) of the series of 1,275 payments received at the end of each month for 4 years, when discounted at 5% per period, is 4,518.75.
Please note that I've provided an example calculation using an interest rate of 5%, but the actual value would depend on the specific interest rate ("b") given in the problem.
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Consider the market for gasoline. Demand for gas is represented by the inverse demand curve, Pgas d=160−2Qgas d, and the supply of gas is represented by the inverse supply curve, Pgas s=6Qgas s. Assume that Q is measured in gallons of gas. (a) What is the equilibrium price and quantity in this market? (b) How much surplus do producers and consumers each receive? Now, suppose that the government imposes a $40 /gallon tax on gas stations (i.e., suppliers). (c) What is the new equilibrium price and quantity after the tax is introduced? (d) How does consumer and produce surplus change as a result of the tax? (e) How much tax revenue goes the government collect? (f) What is the size of the deadweight loss associated with this tax? (g) To what extent does the burden of this tax fall on consumers versus firms? In other words, what proportion of the tax revenue comes from consumers paying a higher price, versus firms receiving a lower price? (h) How would the consumer and firm tax burdens you calculated in the previous part change if the tax had been charged to consumers (as opposed to suppliers)? Show your work.
(a) The equilibrium price in the market is $80 per gallon, and the equilibrium quantity is 40 gallons.
(b) Producers receive a surplus of $1,600, and consumers receive a surplus of $1,600.
(c) After the tax is introduced, the new equilibrium price is $96 per gallon, and the new equilibrium quantity is 36 gallons.
(d) Consumer surplus decreases by $288, and producer surplus decreases by $576.
(e) The government collects $1,440 in tax revenue.
(f) The deadweight loss associated with the tax is $144.
(g) Consumers bear 40% of the tax burden, while firms bear 60%.
(h) If the tax were charged to consumers instead of suppliers, the consumer tax burden would increase by $144, and the firm tax burden would decrease by $144.
(a) To find the equilibrium price and quantity, we set the quantity demanded equal to the quantity supplied:
160 - 2Qgas d = 6Qgas s.
By solving this equation, we find that the equilibrium quantity is 40 gallons. Substituting this value into either the demand or supply equation gives us the equilibrium price, which is $80 per gallon.
(b) Consumer surplus is the area above the equilibrium price and below the demand curve, and producer surplus is the area below the equilibrium price and above the supply curve. Both consumers and producers receive a surplus of $1,600, calculated as the area of the triangles formed by the equilibrium quantity.
(c) With the $40/gallon tax imposed on suppliers, the supply curve shifts upward by $40. The new equilibrium quantity is 36 gallons, and the new equilibrium price can be found by substituting this quantity into the demand or supply equation, resulting in a price of $96 per gallon.
(d) Consumer surplus decreases due to the higher price, resulting in a decrease of $288. Producer surplus decreases due to the lower price received by suppliers, resulting in a decrease of $576.
(e) The tax revenue collected by the government is calculated by multiplying the tax per unit ($40/gallon) by the new equilibrium quantity (36 gallons), resulting in $1,440.
(f) The deadweight loss associated with the tax represents the loss of total surplus due to the reduction in quantity traded. It is calculated as half the tax per unit ($20/gallon) multiplied by the difference between the original equilibrium quantity (40 gallons) and the new equilibrium quantity (36 gallons), resulting in a deadweight loss of $144.
(g) The burden of the tax is shared between consumers and firms. Consumers bear 40% of the tax burden, as their surplus decreased by $288 out of the total tax revenue of $1,440. Firms bear 60% of the tax burden, as their surplus decreased by $576 out of the total tax revenue.
(h) If the tax were charged to consumers instead of suppliers, the consumer tax burden would increase by the full amount of the tax, resulting in a decrease in consumer surplus by $144. The firm tax burden would decrease by the same amount, as their price received would remain unchanged.
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For the next 5 (five) questions, consider the imaginary country. In 2019, the country was a closed economy. For that year, total consumption (C) was $20 million, investment (I) was $10million, and government expenditure (G) was $5 million. In 2020, however, the country decided to open its economy, ending that year with a total consumption (C) of $15 million, investment (I) of $20million, government expenditure (G) of $25 million, exports (X) of $5 million, and imports of (M) of $7 million.
What was the country’s GDP in 2019? In 2020?
What was the country’s trade balance in 2019 and 2020, respectively?
How did opening the economy affected the country’s GDP?
For the year of 2020, suppose that the country’s businesses located in other countries produced $1 million in goods and services, and foreign companies based in that country produced $0.5 million. What is the Gross National Product (GNP) for the country in 2020?
Calculate the expected healthcare cost - e(cost) - under this scenario (round to two decimal places; use numbers only; do not put a $ before the numbers):
Under this scenario, the estimated cost of healthcare is $2,046.62.
We need to divide the probability of each outcome by the cost of that outcome to get the expected cost of healthcare.
Given:
- The likelihood of remaining healthy: 0.83
- Likelihood of becoming ill: 1 - 0.83 = 0.17
- How much it costs to stay healthy: $0
- Sickness expenses: $24,671.82
We use the following formula to determine the anticipated cost:
E(Cost) = (Probability of Staying Healthy * Cost of Staying Healthy) + (Probability of Getting Sick * Cost of Getting Sick)
E(Cost) = (0.83 * $0) + (0.17 * $24,671.82) = $0 + $4,192.26 = $4,192.26 However, due to the fact that the question requires an answer that is rounded to two decimal places and does not include a dollar sign, the anticipated cost of healthcare is
This estimation considers the probabilities of remaining solid (83%) and becoming ill (17%), alongside their individual expenses. Taking into account the probabilities and costs associated with each outcome, the expected cost represents the average amount spent over the course of time.
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The complete question is
Calculate the expected healthcare cost - E(Cost) - under this scenario (round to two decimal places; use numbers only; DO NOT put a $ before the numbers): Outcome Probability Cost Stay Healthy 0.83 $ 0 Get sick. 1-0.83 $24671.82
The blood platelet counts of a group of women have a bell-shaped distribution with a mean of 257.4 and a standard deviation of 61.1 (All units are 1000 cells/ /L ) Using the empirical rule, find each approximate percentage below. a. What is the approximate percentage of women with platelet counts within 2 standard deviations of the mean, or between 135.2 and 379.6 ? b. What is the approximate percentage of women with platelet counts between 74.1 and 440.77
a. The approximate percentage within two standard deviations, which is approximately 95%. b. To find the approximate percentage of women with platelet counts between 74.1 and 440.77, we can calculate the z-scores for the lower and upper limits and then use the standard normal distribution table. Once we have the z-scores, we can look up the corresponding probabilities in the standard normal distribution table and subtract the lower probability from the higher probability to get the approximate percentage.
a. To find the approximate percentage of women with platelet counts within 2 standard deviations of the mean, or between 135.2 and 379.6, we can use the empirical rule. According to the empirical rule, approximately 68% of the data falls within one standard deviation of the mean, approximately 95% falls within two standard deviations, and approximately 99.7% falls within three standard deviations.
In this case, we want to find the approximate percentage within two standard deviations, which is approximately 95%.
b. To find the approximate percentage of women with platelet counts between 74.1 and 440.77, we can calculate the z-scores for the lower and upper limits and then use the standard normal distribution table.
Lower z-score:z = (lower limit - mean) / standard deviation
z = (74.1 - 257.4) / 61.1
Upper z-score:
z = (upper limit - mean) / standard deviation
z = (440.77 - 257.4) / 61.1
Once we have the z-scores, we can look up the corresponding probabilities in the standard normal distribution table and subtract the lower probability from the higher probability to get the approximate percentage.
Please note that I can provide you with the calculations for the z-scores and the probabilities, but I am unable to provide the exact values from the standard normal distribution table since it requires looking up specific values from the table.
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Chris Guthrie was recently hired by S&S Air, Inc to assist the company with its financial planning and to evaluate the company's performance. Chris graduated from college five years ago with a finance degree. He has been employed in the finance department of a Fortune 500 company since then. S&S Air was founded 10 years ago by friends Mark Sexton and Todd Story. The company has manufactured and sold light airplanes over this period, and the company's products have received high reviews for safety and reliability. The company has a niche market in that it sells primarily to individuals who own and fly their own airplanes. The company has two models: the Birdie, which sells for $53,000, and the Eagle, which sells for $78,000. While the company manufactures aircraft, its operations are different from commercial aircraft companies. S&S Air builds aircraft to order. By using prefabricated parts, the company can complete. In contrast, a commercial airplane may take one and one-half to two years to manufacture once the order is placed. Mark and Todd have provided the following financial statements. Chris has gathered the industry ratios for the light airplane manufacturing industry. LTE S&S AIR, INC 2019 Income Statement Sales $26,501,600 Cost of goods sold $19,780,200 Other expenses $3,166,700 Depreciation $864,500 FRIT 11:54 Done Assignment-3_5a23dcc1f2cfcc... www S&S AIR, INC 2019 Income Statement Sales $26,501,600 Cost of goods sold $19,780,200 Other expenses $3,166,700 Depreciation $864,500 EBIT $2,690,200 Interest $479,200 Taxable Income $2,211,000 Taxes (21%) $464,310 Net Income $1,746,690 Dividends $270,600 Additions to retained earnings $1,476,090 S&S AIR, INC 2019 Balance Sheet Assets Equity Current Assets Liabilities Liabilities and Cash Accounts payable $944,698 Account receivable $2,025,778 payable $1,909,248 Inventory current Liab $2,853,946 $481,852 $1,634,820 LTE $5,060,000 Total Current $4,149 150 Current Notes Long-term debt Total 11:55 1 Done Assignment-3_5a23dcc1f2cfcc... $5,060,000 Total Current Assets $4,142,450 Shareholder equity $190,000 Fixed Assets earnings $12,295,202 Net plant and $12,485,202 Current Ratio 1.43 equipment Total Assets Liabilities and equity $20,399,148 1.89 Quick Ratio 0.84 Cash Ratio 0.21 Light Airplane Industry Ratios Lower Quartile Median 1.05 Upper Quartile 0.50 0.39 Total asset turnover 0.85 1.13 Inventory turnover 6.15 10.89 Long-term debt $16,256,698 Receivable turnover 11.51 9.82 Total debt ratio 0.52 Common stock 0.61 Debt-equity ratio 1.56 $20,399,148 1.08 Equity multiplier 2.08 2.56 Times interest earned 8.06 9.83 Cash coverage ratio 0.64 0.08 Retained Total Equity 0.068 4.89 6.27 0.31 0.58 LTE 1.58 5.18 11:55 1 Done Assignment-3_5a23dcc1f2cfcc... Equity multiplier 2.56 2.08 Times interest earned 8.06 9.83 Cash coverage ratio 8.43 10.27 Profit margin 6.75% 8.47% Return on assets 10.53% 13.21% Return on equity 16.54% 26.15% 1.58 5.18 5.84 4.05% 6.05% 9.93% LTE Questions 1. Calculate the ratios for S&S Air that are shown for the industry? 2. Mark and Todd agree that a ratio analysis can provide a measure of the company's performance. They have chosen Boeing as an aspirant company. Would you choose Boeing as an aspirant company? Why or why not? 3. Company the performance of S&S Air to the industry. For each ratio, comment on why it might be viewed as positive or negative relative to the industry. Suppose you create an inventory ratio calculated by inventory divided by current liabilities. How do you think S&S Air's ratio would compare to the industry average? 4. Calculate the internal growth rate and sustainable growth rate for S&S Air. What do these numbers mean?
Calculate the ratios for S&S Air that are shown for the industry: Current Ratio: S&S Air's current ratio is Total Current Assets divided by Total Current Liabilities, which is $4,142,450 / $2,853,946 = 1.45.
Quick Ratio: S&S Air's quick ratio is (Total Current Assets - Inventory) divided by Total Current Liabilities, which is ($4,142,450 - $1,634,820) / $2,853,946 = 0.85.
Cash Ratio: S&S Air's cash ratio is Cash divided by Total Current Liabilities, which is $481,852 / $2,853,946 = 0.17.
Total Asset Turnover: S&S Air's total asset turnover is Sales divided by Total Assets, which is $26,501,600 / $20,399,148 = 1.30.
Inventory Turnover: S&S Air's inventory turnover is Cost of Goods Sold divided by Inventory, which is $19,780,200 / $1,634,820 = 12.09.
Receivable Turnover: S&S Air's receivable turnover is Sales divided by Accounts Receivable, which is $26,501,600 / $2,025,778 = 13.09.
Total Debt Ratio: S&S Air's total debt ratio is Total Liabilities divided by Total Assets, which is $5,060,000 / $20,399,148 = 0.25.
Debt-Equity Ratio: S&S Air's debt-equity ratio is Total Debt divided by Total Equity, which is $5,060,000 / $190,000 = 26.63.
Equity Multiplier: S&S Air's equity multiplier is Total Assets divided by Total Equity, which is $20,399,148 / $190,000 = 107.36.
Times Interest Earned: S&S Air's times interest earned is EBIT divided by Interest, which is $2,690,200 / $479,200 = 5.61.
Cash Coverage Ratio: S&S Air's cash coverage ratio is (EBIT + Depreciation) divided by Interest, which is ($2,690,200 + $864,500) / $479,200 = 7.62.
Profit Margin: S&S Air's profit margin is Net Income divided by Sales, which is $1,746,690 / $26,501,600 = 6.59%.
Return on Assets: S&S Air's return on assets is Net Income divided by Total Assets, which is $1,746,690 / $20,399,148 = 8.56%.
Return on Equity: S&S Air's return on equity is Net Income divided by Total Equity, which is $1,746,690 / $190,000 = 918.83%.
Whether to choose Boeing as an aspirant company depends on various factors such as industry similarity, size, operations, and financial characteristics. Since the information provided does not include details about Boeing or specific criteria for selecting an aspirant company, it is not possible to determine if Boeing is a suitable choice.
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the CAPPA, a. What is the expected return of Intel slock? b. What is the expected return of Boeing stock? c. What is the beta of a portfolio that consists of 60% Intel stock and 40% Boeing stock? d. What is the expected return of a portfolio that consists of 60% intel stock and 40% Boeing stock? (There are two ways to solve this.) a. What is the expected return of Intel stock? Inter's expected return is (Round to one decimal place) b. What is the expected return of Boeing stock? Booing's expected return is 6. (Round to one decimal place.) c. What is the beta of a portfolio that consists of 60% intel stock and 40% Boeing stock? The portiolio beta is (Round to two decimal places.)
To answer these questions, I would need access to up-to-date financial information and specific data on the expected returns and betas of Intel and Boeing stocks. As an AI language model, I don't have real-time data. However, I can explain the concepts and provide a general approach for calculating expected returns and portfolio beta.
a. Expected return of Intel stock: The expected return of a stock is typically calculated using a weighted average of the possible returns based on their probabilities. Without specific data, I cannot provide an accurate expected return for Intel stock.
b. Expected return of Boeing stock: Similar to Intel stock, the expected return of Boeing stock would require specific data on the probabilities and possible returns. Without this information, I cannot provide an accurate expected return for Boeing stock.
c. Beta of a portfolio: The beta of a portfolio is a measure of its systematic risk or sensitivity to market movements. It is calculated as the weighted average of the individual asset betas, where the weights correspond to the portfolio's asset allocation.
To calculate the beta of a portfolio consisting of 60% Intel stock and 40% Boeing stock, you would need the individual betas of both stocks. Beta values are usually available from financial sources or calculated using regression analysis.
d. Expected return of the portfolio: There are two common approaches to calculating the expected return of a portfolio:
1. Weighted Average Approach: Multiply the weight of each stock by its expected return and sum the results. Assuming you have the expected returns for Intel and Boeing stocks, you can use the following formula:
Expected Return of Portfolio = (Weight of Intel * Expected Return of Intel) + (Weight of Boeing * Expected Return of Boeing)
2. Beta Approach: Multiply the beta of each stock by its expected excess return (the difference between the expected return of the stock and the risk-free rate), and sum the results. The risk-free rate is typically represented by the yield on a government bond.
Expected Return of Portfolio = Risk-Free Rate + (Beta of Intel * Expected Excess Return of Intel) + (Beta of Boeing * Expected Excess Return of Boeing)
Without specific data on expected returns, betas, and the risk-free rate, I cannot provide an accurate calculation of the expected return for the portfolio.
To obtain precise answers for these questions, it is recommended to consult reliable financial sources or utilize financial analysis tools that provide real-time data and calculations.
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The follewire in the unacyasted trial balance for Oriole Lodge Led, at its year end. May 31,2021 . The company adjusts its accounts monithly tartart. 5. Customen must pay a $100 deposit if they wase to book a room in advance daring the peak period. An analysis of these bookings indicates that 175 deporits were reccired and credited to Deferred flevenue. fly May 31 , 25 of the depositi were earned. 6. On May 25, a local business contracied with Oriele Lodge to rent one of its houvelureplig units for four inonths, startien Junn 1. ata rate of $2.929 ger montz. An advance paptent equal to one manteh's rent was paid on May 25 and eredited to Rowet income 7. On May 31. Geide iodse has earned $1,819 of rent incone trom dustomers who are curre0tiy staylag at the lodge. The cutomers will pay the anociat owing ond y whice thercheckeua in earfy fune. 14. Saries of $1.491 are unpold at My31. 9. Interet on the mortgade payable is $665 for the month of May and due lune 1 : 10. The Myy utily till of 92.322 hat nof yet veenrecorded ar paiat 11. Adstienal inicome tax is estimated to be 1930 No Date fccount Tites and Explanation May 31 (b) The parts of t9is pution mant be completed in order. Ths qurt wim be avditable whien you compere the part abowe.
The provided information appears to be an unformatted and incomplete trial balance for Oriole Lodge Led.
It seems that there are some missing details and errors in the given data. Additionally, the information is not well-structured and contains typos and inconsistencies, making it difficult to accurately analyze and adjust the accounts.
To effectively assess the trial balance and make the necessary adjustments, it would be helpful to have the information presented in a clear and organized format. Each account should be listed separately with their corresponding balances and explanations of any relevant transactions or adjustments.
Please provide the trial balance in a more structured format, and include all the necessary details and account balances so that I can assist you further with adjusting entries and analyzing the financial information.
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1- If the dividend in year 2 is $1.50 and the growth rate is 5%, then the dividend in Year 8 is equal to?
2- The capital gains yield, as used for dividend growth period in the non-constant dividend growth model, is equal to?
3- A is expected to pay their first annual dividend three years from now. That payment will be a shareStarting in year four, the company will increase the dividend by 5% per yearThe required return is 10%What is the estimated value of this stock today?
In 1 the dividend in Year 8 is approximately $1.84. 2.) Capital gains yield = Total return - Dividend yield. 3). The estimated value of this stock today is approximately $32.20.
1- To calculate the dividend in Year 8, we need to apply the growth rate of 5% per year for six years (from Year 2 to Year 8).
Starting with the dividend in Year 2, which is $1.50, we can calculate the dividend in Year 8 as follows:
Dividend in Year 8 = Dividend in Year 2 * ([tex]1 + growth rate) ^ number of years[/tex]
Dividend in Year 8 = $1.50 *[tex](1 + 0.05) ^ 6[/tex]
Dividend in Year 8 ≈ $1.84
Therefore, the dividend in Year 8 is approximately $1.84.
2- The capital gains yield in the non-constant dividend growth model refers to the rate of increase in the stock's price. It is calculated by subtracting the dividend yield from the total return on the stock.
Capital gains yield = Total return - Dividend yield
3- To estimate the value of the stock today, we can use the dividend discount model (DDM) and discount the future dividends back to the present value. The DDM formula is:
Stock value = Dividend / (Required return - Growth rate)
In this case, we need to find the value of the stock today, given the first annual dividend will be paid three years from now and will increase by 5% per year starting from year four.
Stock value = Dividend in Year 4 / (Required return - Growth rate)
To calculate the dividend in Year 4, we can use the dividend in Year 2 ($1.50) and apply the growth rate of 5% per year for two years:
Dividend in Year 4 = Dividend in Year 2 * [tex](1 + growth rate) ^ 2[/tex]
Dividend in Year 4 = $1.50 * [tex](1 + 0.05) ^ 2[/tex]
Dividend in Year 4 ≈ $1.61
Now, we can calculate the estimated value of the stock today using the formula:
Stock value = $1.61 / (0.10 - 0.05)
Stock value ≈ $32.20
Therefore, the estimated value of this stock today is approximately $32.20.
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Zochary Blooks beiys boxiks and magasinen orectly from poblishers and distabifes them to grocery stores. The violesuler expects to piechise the following irvertiory: Zachary Bookdi accountant prepared the following schedule of cash payments for liveritory purchsses. Zachary Blooks' suipetiers Tequire that 95 percent of porchases on accosint be pasd in the month of purchase, the remain ang percent are palf in the mont forbuing the month of parchone. Required 0. Complete the schediste of Cash payments for inventory purchisses by filing in the missing arnounts. Complete this question ty entering your answers in the tabs betow. Zachary Books buys books and magazines directly from publishers and distributes them to grocery stores. The wholesaler expects to purchase the following inventory: Zachary Books' accountant prepared the following schedule of cash payments for inventory purchases. Zachary Books' suppliers require that 95 percent of purchases on account be paid in the month of purchase; the remalning 5 percent are paid in the month following the month of purchase. Required a. Complete the schedule of cash payments for inventory purchases by filling in the missing amounts. b. Determine the amount of accounts payable the company will report on its pro forma balance shect at the end of the second quarter. Complete this question by entering your answers in the tabs below. Determine the amoint of accounts payable the company will report on its pro forma balance sheet at the end of the second
The question states that 95 percent of purchases on account are paid in the month of purchase.
a. To complete the schedule of cash payments for inventory purchases, we need to fill in the missing amounts.
and the remaining 5 percent are paid in the month following the month of purchase.
b. To determine the amount of accounts payable the company will report on its pro forma balance sheet at the end of the second quarter, we need additional information.
Please provide the relevant information for the second quarter, such as purchases made and payments made during that period.
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When does a corporation need a board of advisors (BOA) and/or board of directors (BOD)? Who should and should not serve on BOA versus BOD? What about other stakeholders, such as environmentalists, union representatives, or community leaders?
2.2 What are corporate governance, social responsibility (ESG), and fair trade? What is the purpose of a code of conduct? What are community-improving activities? What is faith-based investing?
2.3 What is environmental, social, and corporate governance and triple bottom line (people, planet, and profit)?
A corporation typically needs a Board of Directors (BOD) when it is established. The BOD is responsible for making major decisions, setting corporate strategy, and overseeing the company's operations. They are usually elected by shareholders and have fiduciary duties towards them.
A Board of Advisors (BOA) is optional and can be established when a corporation seeks additional guidance or expertise. BOA members are not involved in decision-making but provide advice and support to the company's management.
When selecting members for the BOA, it is important to consider individuals with specialized knowledge or experience relevant to the company's goals. The BOD, on the other hand, should consist of individuals who can effectively govern and represent the interests of the shareholders.
Regarding other stakeholders, corporations can involve environmentalists, union representatives, or community leaders in various ways. This can include forming committees, engaging in dialogue, or seeking their input on specific matters.
A code of conduct is a set of guidelines that outlines the expected behavior of employees within a company. It helps promote ethical conduct, protect the company's reputation, and ensure compliance with laws and regulations.
Community-improving activities are initiatives undertaken by a corporation to benefit the communities in which they operate.
Faith-based investing involves aligning investment decisions with religious or ethical beliefs.
Environmental, social, and corporate governance (ESG) refers to a framework that measures a company's sustainability and ethical impact. The triple bottom line (people, planet, profit) is a concept that considers the social, environmental, and financial aspects of a company's performance. It recognizes that corporations should be accountable for their impact on people, the planet, and their profitability.
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Which of the following combinations of financial reporting quality and earnings quality cannot coexist?
a.
HIGH financial reporting quality and HIGH earnings quality.
b.
HIGH earnings quality and LOW financial reporting quality.
c.
LOW earnings quality and HIGH financial reporting quality.
d.
LOW financial reporting quality and LOW earnings quality.
The combination of LOW earnings quality and Low financial reporting quality cannot coexist. The correct option is D.
Financial reporting quality refers to the accuracy and reliability of financial information presented in a company's financial statements. It involves adhering to accounting standards and principles, maintaining proper internal controls, and providing transparent and unbiased information to stakeholders.
Earnings quality, on the other hand, represents the reliability and sustainability of a company's reported earnings. It reflects the degree to which reported earnings reflect the economic reality of a company's operations and financial performance.
When financial reporting quality is HIGH, it means that the company follows best practices in preparing and presenting its financial statements.
This includes having robust internal controls, accurate recording of transactions, and compliance with accounting standards. This high level of financial reporting quality enhances the reliability and credibility of the financial statements.
In contrast, when earnings quality is LOW, it implies that reported earnings are not a true reflection of the company's actual performance.
This could be due to aggressive accounting practices, income smoothing, or the manipulation of financial results to meet certain targets. Low earnings quality undermines the usefulness and reliability of the reported earnings.
Therefore, the combination of LOW earnings quality and HIGH financial reporting quality cannot coexist. If a company has high financial reporting quality, it means that it follows best practices in preparing its financial statements, which would also require accurate and reliable reporting of earnings.
Low earnings quality would contradict the objective of high financial reporting quality, as it undermines the credibility and usefulness of the reported earnings.
Therefore, The correct option is D.
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Community Recreational Tourism
Discuss economic or political challenges to CRT. (Answer not less than 500 words)
Community Recreational Tourism (CRT) is a form of tourism that offers recreational opportunities to visitors in the community. It is also a form of tourism that encourages local participation and contributes to the local economy. CRT has many benefits, including economic growth, cultural exchange, and social interaction. However, it also faces economic and political challenges that can hinder its growth and sustainability.
Economic challenges
One of the primary economic challenges to CRT is funding. The development of CRT requires significant investment, including the construction of facilities, the development of infrastructure, and the promotion of tourism. In many cases, the local government or private investors fund this investment. However, the availability of funds may be limited, especially in developing countries or regions where there is little support for tourism development.
Another economic challenge to CRT is competition. As more communities recognize the benefits of tourism, the number of tourist destinations is increasing. Thus, competition among these destinations is growing. The result is that smaller or less well-known destinations may struggle to attract visitors, especially those who are seeking unique experiences.
Political challenges
The political challenges to CRT are related to regulations, policies, and attitudes toward tourism. One of the primary political challenges to CRT is regulatory barriers. Local or national governments may regulate CRT, and these regulations may be strict and limiting, making it difficult for the tourism industry to flourish.
Another political challenge to CRT is cultural sensitivity. CRT involves the interaction between visitors and the local community. In some cases, visitors may have cultural or language barriers, which can lead to misunderstandings or conflicts. Thus, it is essential to promote cultural sensitivity and respect, which can be achieved through education and training.
In conclusion, Community Recreational Tourism has many economic and political challenges that hinder its growth and sustainability. However, these challenges can be addressed through proper planning, investment, and regulation. Additionally, promoting cultural sensitivity and respect can help ensure that CRT contributes positively to the local community and economy.
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Statement of Cash Flows A list of Fischer Company's cash flow activities is presented here: a. Patent amortization expense, $3,500 b. Machinery was purchased for $39,500 c. At year-end, bonds payable with a face value of $20,000 were issued for $17,000 d. Net income, $47,200 e. Dividends paid, $16,000 f. Depreciation expense, $12,900 9. Preferred stock was issued for $13,600 h. Investments were acquired for $21,000 1. Accounts receivable increased by $4,300 j. Land was sold at cost, $11,000 k. Inventories increased by $15,400 1. Accounts payable increased by $2,700 m. Beginning cash balance, $19,400 Operating Activities: Net income ✓∨ Adjustments for differences between net income and cash flows from operating activities: Add: Depreciation expense V Add: Patent amortization expense ✓v Add: Increase in accounts payable ✓✓ Less: Increase in accounts receivable ✓ Less: Increase in inventories ∨∨ Net cash provided by operating activities ✓ Investing Activities: Payment for purchase of machinery ✓ Rayment for purchase of investments ✓ Receipt from sale of land ✓v Net cash used for investing activities v Financing Activities: Payment of dividends ✓ Receipt from issuance of bonds ✓ Receipt from issuance of preferred stock V Net cash provided by financing activities ✓ Net increase in cach =v Net cash provided by operating activities ∼∨ nvesting Activities: Payment for purchase of machinery ✓ Payment for purchase of investments Receipt from sale of land ✓∨ Net cash used for investing activities ∨∨ Financing Activities: Payment of dividends ✓ Receipt from issuance of bonds ✓ Receipt from issuance of preferred stock ∨∨ Net cash provided by financing activities v Net increase in cash ∨ Cash, January 1→v Cash, December 31∼∨ Feocback
The statement of cash flows is one of the financial statements that disclose the cash inflows and outflows during a certain accounting period. The cash flow statement of Fischer Company for the current year is shown below. The net increase in cash at the end of the year is also shown here.
The given statement of cash flows shows the details of all the cash inflows and outflows in Fischer Company during the current year. The cash flow activities are segregated into three categories, namely operating activities, investing activities, and financing activities. These categories classify cash activities based on the nature of activities. The operating activities include all the cash flows arising from the primary activities of the company, investing activities include the cash inflows and outflows arising from long-term investment activities, and financing activities include all the cash flows arising from the long-term capital of the company. The operating activities are further segregated into the direct method and indirect method of cash flow calculation.
In the given statement, the net cash provided by operating activities is calculated using the indirect method, which is the difference between the cash inflows and outflows of operating activities. The net cash provided by investing activities is calculated by adding up all the cash inflows and outflows of the investing activities, and similarly, the net cash provided by financing activities is calculated by adding up all the cash inflows and outflows of financing activities. The net increase in cash is the difference between the cash balance at the beginning of the year and the end of the year. Therefore, the statement of cash flows of Fischer Company for the current year is as follows:
Statement of cash flows
Net increase in cash for the year: $16,400
Opening balance of cash: $19,400
Closing balance of cash: $35,800
The company has a net increase in cash of $16,400 during the current year, which has increased the cash balance to $35,800 at the end of the year.
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Research the following questions regarding virtual currency, and write your answers in the form of a set of "frequently asked questions" (FAQs) suitable for the website of your CPA firm. As part of your research, consider the IRS’s FAQs on virtual currency transactions (irs.gov/individuals/international -taxpayers/frequently-asked-questions-on-virtual-currency-transactions) and Rev.Rul. 2019−24 (2019−44 I.R.B. 1004).
a. Since taxpayers want to easily track virtual currency and use it to acquire goods and services, how do taxpayers typically "hold" their virtual currency?
b. Janice acquired bitcoin in 2017 and 2019. This year, she used a portion of her bitcoin holdings to acquire 100 litecoin. What are the tax implications of this transaction? What do you recommend Janice do to help track her acquisition and use of virtual currency (in order to have records readily available about these investments and their tax consequences)?
c. Rajiv acquired $20 worth of bitcoin in 2016 using an automatic teller machine that converted cash to bitcoin. He has never used any of this currency. How should Rajiv answer the virtual currency question on Form 1040 this year? Why? Consider the possibility that there was a "hard fork" or an "airdrop" associated with Rajiv’s bitcoin (also explain these terms in your FAQs)
Frequently Asked Questions (FAQs) on Virtual Currency Transactions
Q1: How do taxpayers typically "hold" their virtual currency?
A: Taxpayers can hold their virtual currency in different ways, such as in a digital wallet, on a cryptocurrency exchange, or in a hardware wallet. These methods allow for easy tracking and storage of virtual currency.
Q2: What are the tax implications if Janice used a portion of her bitcoin holdings to acquire 100 litecoin?
A: When Janice uses her bitcoin to acquire litecoin, it is considered a taxable event. The transaction is subject to capital gains tax, and Janice must report the fair market value of the litecoin at the time of the transaction. She should consult with a tax professional to determine the exact tax implications based on her individual circumstances.
To track her acquisition and use of virtual currency, Janice should maintain detailed records of her bitcoin holdings, including dates of acquisition, purchase prices, and fair market values. This information will help her accurately calculate her capital gains or losses when she disposes of virtual currency in the future.
Q3: How should Rajiv answer the virtual currency question on Form 1040 this year if he acquired bitcoin in 2016 but never used it?
A: Rajiv should answer the virtual currency question on Form 1040 affirmatively, indicating that he did engage in a virtual currency transaction. Even though Rajiv has never used his bitcoin, he still acquired it, which qualifies as a transaction. Failure to report virtual currency transactions accurately can result in penalties and potential audit.
If there was a "hard fork" or an "airdrop" associated with Rajiv’s bitcoin, he may have received additional virtual currency. A hard fork occurs when a cryptocurrency splits into two separate currencies, and an airdrop is when new virtual currency is distributed to existing holders. Rajiv should consult with a tax professional to determine the tax implications of these events and accurately report them on his tax return.
Please note that it is important for taxpayers to consult with a tax professional or CPA for personalized advice and guidance regarding virtual currency transactions and their specific tax situation.
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Harbour Company makes two models of electronic tablets, the Home and the Work. Basic production information follows: Work Home Direct materials cost per unit 48 30 Direct labor cost per unit 20 30 Sales price per unit 300 500 Expected production per month 700 units 400 units Harbour has monthly overhead of $175,200, which is divided into the following cost pools Setup costs 68,800 58,400 Quality control 48,000 Maintenance Total $175,200 The company has also compiled the following information about the chosen cost drivers Home Work Total 42 Number of setups 58 100 Number of inspections 340 390 730 Number of machine hours 1,700 1.300 3,000
The Allocated overhead cost per unit for each tablet model are $376.25 per unit and $202.04 per unit.
To allocate the overhead costs using activity-based costing (ABC), we need to determine the cost allocation rates for each cost pool based on the respective cost drivers.
Let's calculate the allocation rates for the three cost pools: setup costs, quality control, and maintenance.
Setup costs: Number of setups: Home = 42, Work = 58, Total = 100
Allocation rate for setup costs per setup = Setup costs / Total number of setups
= $68,800 / 100
= $688 per setup
Quality control: Number of inspections: Home = 340, Work = 390, Total = 730
Allocation rate for quality control costs per inspection = Quality control costs / Total number of inspections
= $48,000 / 730
≈ $65.75 per inspection
Maintenance: Number of machine hours: Home = 1,700, Work = 1,300, Total = 3,000
Allocation rate for maintenance costs per machine hour = Maintenance costs / Total machine hours
= $175,200 / 3,000
= $58.40 per machine hour
Now that we have the allocation rates, we can allocate the overhead costs to each product based on their respective cost drivers.
For the Home tablet: Setup costs: Home allocation rate per setup = $688 per setup
Setup cost allocated to the Home tablets = Home number of setups * Home allocation rate per setup
= 42 * $688
= $28,896
Quality control: Home allocation rate per inspection = $65.75 per inspection
Quality control cost allocated to the Home tablets = Home number of inspections * Home allocation rate per inspection
= 340 * $65.75
= $22,325
Maintenance: Home allocation rate per machine hour = $58.40 per machine hour
Maintenance cost allocated to the Home tablets = Home number of machine hours * Home allocation rate per machine hour
= 1,700 * $58.40
= $99,280
For the Work tablet: Setup costs: Work allocation rate per setup = $688 per setup
Setup cost allocated to the Work tablets = Work number of setups * Work allocation rate per setup
= 58 * $688
= $39,904
Quality control: Work allocation rate per inspection = $65.75 per inspection
Quality control cost allocated to the Work tablets = Work number of inspections * Work allocation rate per inspection
= 390 * $65.75
= $25,607.50
Maintenance: Work allocation rate per machine hour = $58.40 per machine hour
Maintenance cost allocated to the Work tablets = Work number of machine hours * Work allocation rate per machine hour
= 1,300 * $58.40
= $75,920
The total allocated overhead costs for each product are as follows:
Home tablet: Setup costs: $28,896, Quality control: $22,325, Maintenance: $99,280
Total allocated overhead costs for the Home tablet = $28,896 + $22,325 + $99,280 = $150,501
Work tablet: Setup costs: $39,904, Quality control: $25,607.50, Maintenance: $75,920
Total allocated overhead costs for the Work tablet = $39,904 + $25,607.50 + $75,920 = $141,431.50
Therefore, the allocated overhead costs per unit for each tablet model are as follows:
Home tablet: Allocated overhead cost per unit = Total allocated overhead costs for the Home tablet / Expected production per month (Home)
= $150,501 / 400
≈ $376.25 per unit
Work tablet: Allocated overhead cost per unit = Total allocated overhead costs for the Work tablet / Expected production per month (Work)
= $141,431.50 / 700
≈ $202.04 per unit
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