The project chosen for analysis is the Apollo 11 Mission.
The Apollo 11 Mission, which successfully landed the first humans on the moon, involved numerous risks that had to be carefully managed. Two risk assessment methodologies that could have been employed are the Failure Mode and Effects Analysis (FMEA) and the Monte Carlo Simulation.
FMEA would have allowed the mission team to identify and evaluate potential failure modes in various aspects of the mission, such as the spacecraft, launch vehicle, life support systems, communication systems, and lunar module. By assessing the severity, occurrence probability, and detection capability of each failure mode, the team could prioritize risks and develop mitigation strategies.
Monte Carlo Simulation, on the other hand, could have been used to analyze the uncertainties associated with critical mission parameters, such as navigation, fuel consumption, trajectory calculations, and re-entry dynamics. By running multiple simulations with randomized input variables, the team could quantify the probabilities of success and failure, helping them understand the potential outcomes and adjust their plans accordingly.
In terms of a risk management plan, it would have included risk identification, assessment, mitigation, monitoring, and contingency planning. The plan would have established clear roles and responsibilities, outlined communication protocols, and defined decision-making processes. It would have emphasized regular monitoring of risks throughout the mission, allowing for timely adjustments and the implementation of contingency measures if unforeseen events occurred.
Overall, the Apollo 11 Mission required a robust risk management approach to address the complexities and uncertainties associated with space exploration. Through careful assessment and proactive mitigation strategies, the mission team was able to successfully navigate the risks and achieve one of humanity's most remarkable feats.
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Capital structure refers to a measure of how long it takes to convert inventory into cash. True False
Capital structure refers to a measure of how long it takes to convert inventory into cash - False.
Capital structure alludes to the various kinds of financing that an organization uses to fund its activities and development. The capital structure is the way an organization funds its overall activities and development by utilizing various kinds of funds. It comprises of all the long-term and short-term debts and equity of the company in question.
Inventory is a record of the current assets of a company, which comprises of all the goods or materials that are either ready for sale or are in the production process. It is the set of resources held by a company in stock for trading, for the production of goods, or for the provision of services.
Usually, the value of the inventory is considered as a current asset in the balance sheet of a company. It is calculated based on the historical cost or fair market value of the assets.The statement "Capital structure refers to a measure of how long it takes to convert inventory into cash" is incorrect. Therefore, the given statement is False.
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True or false. Elton Mayo believed that a strict relationship between management and employees with all orders and direction flowing unchallenged from the manger to the managed. He proved that innovation was more likely to come out of this type of management environment?
False. Elton Mayo, a sociologist and researcher, is known for his work in the Hawthorne Studies conducted at the Western Electric Hawthorne Works in the 1920s and 1930s.
Mayo's findings challenged the traditional view of strict top-down management and highlighted the importance of social and human factors in the workplace.
Mayo's research showed that productivity and employee satisfaction could be improved by factors such as social interaction, teamwork, and a sense of belonging. He emphasized the significance of communication, employee involvement, and the psychological aspects of work. Mayo argued that a more participatory and inclusive management approach, where employees have a voice and their needs are considered, could lead to increased motivation and innovation.
In summary, Mayo did not support the idea of a strict relationship between management and employees with unchallenged orders. Instead, he demonstrated that a more collaborative and supportive management style could foster innovation and improve overall workplace outcomes.
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Fixed costs, on a per-unit basis, have a directly proportional relationship with changes in sales or production. (In other words, Fixed Cost per unit do not change when the level of sales/production changes.)True or False?
The given statement is False because Fixed costs, on a per-unit basis, do not have a directly proportional relationship with changes in sales or production.
Fixed costs are constant and do not change based on the level of sales or production. As production or sales volume increases, the fixed costs are spread over a larger number of units, resulting in a decrease in the fixed cost per unit.
Conversely, when production or sales volume decreases, the fixed cost per unit increases as the same fixed costs are allocated to a smaller number of units.
Therefore, the fixed cost per unit is inversely proportional to changes in sales or production, rather than directly proportional.
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Which of the following is NOT true?
a. A firm can directly affect its cost of capital by changing its capital structure, by changing its dividend policy and by changing its investment policy.
b. Firms with riskier projects generally have a higher WACC.
c. The WACC only represents the "hurdle rate" for all projects. Therefore, the project's WACC should not be adjusted to reflect the project's risk.
d. Accounts payable is NOT a capital component when calculating the weighted average cost of capital (WACC) for use in capital budgeting.
The option that is not true is c. Only the "hurdle rate" for all projects is represented by the WACC. As a result, the WACC for the project shouldn't be changed to account for risk.
This statement is not true. The WACC (Weighted Average Cost of Capital) represents the average rate of return required by all of a company's investors. It is used as a discount rate for evaluating the feasibility of investment projects. However, different projects may have different levels of risk, and the discount rate used should reflect the riskiness of each individual project. Therefore, the project's WACC may need to be adjusted to reflect the project's specific risk characteristics.
The other options are true:
a. A firm can directly affect its cost of capital by changing its capital structure (e.g., using more debt or equity), changing its dividend policy, and changing its investment policy.
b. Firms with riskier projects generally have a higher WACC because investors require a higher rate of return to compensate for the increased risk.
d. Accounts payable is not considered a capital component when calculating the WACC for use in capital budgeting. The WACC includes the cost of equity, cost of debt, and cost of preferred stock, if applicable. Accounts payable is a short-term liability and is not considered a long-term source of capital.
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Hammond Supplies expects sales of 203,965 units per year with carrying costs of $4.79 per unit and ordering cost of $5.02 per order. Assuming the level of inventory is stable, what is the optimal average number of units in inventory? Round to the nearest whole number.
The optimal average number of units in inventory that Hammond Supplies should maintain is 2020 units.
Total sales = 203,965 units per year Cost of carrying one unit in inventory per year = $4.79 Cost of ordering one unit = $5.02 We can find the optimal order quantity using the Economic Order Quantity (EOQ) model. Using this model, we can find the optimal order quantity using the following formula: [tex]EOQ = sqrt((2DS)/H)[/tex] Where D = Demand per year S = Ordering cost per order H = Cost of holding one unit in inventory per year.
Substituting the given values in the formula, [tex]EOQ = sqrt((2 x 203,965 x 5.02)/4.79)EOQ = 2020.39 ≈ 2020[/tex] units Therefore, the optimal average number of units in inventory that Hammond Supplies should maintain is 2020 units.
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Assume that Stacey Bauer clipped from a newspaper advertisement a coupon for $2 off any 20" pizza from Rosa & Gene’s Pizzeria. Stacey ordered a 20" pizza with three toppings for $18.75. When the pizza arrived, Stacey gave the delivery person $20.
a. How much change should Stacey receive from the delivery person? Round your answer to two decimal places.
$fill in the blank 1
b. How much would Rosa & Gene’s Pizzeria record for the sale of the pizza to Stacey? Round your answer to two decimal places.
$fill in the blank 2
c. Did Rosa & Gene’s Pizzeria incur a liability when it placed the $2-off coupon advertisement in the newspaper?
YesNo
A. Stacey should receive $3.25 in change.
B. The company would record $16.75 in its Sales revenue.
C. Yes, Rosa & Gene’s Pizzeria incurred a liability when it placed the $2-off coupon advertisement in the newspaper.
a. To calculate the cost of the pizza after the coupon is applied, subtract $2 from the original price:
$18.75 - $2 = $16.75
Thus, the cost of the pizza Stacey ordered is $16.75.Since Stacey paid $20, the change she should receive would be the difference between what she paid and the cost of the pizza:
$20 - $16.75 = $3.25
Therefore, the amount of change Stacey should receive from the delivery person is $3.25. This is the final answer, which has been rounded to two decimal places.
b. Rosa & Gene’s Pizzeria would record $16.75 for the sale of the pizza to Stacey. This is because the total cost of the pizza ($18.75) minus the coupon discount ($2) is $16.75.
Therefore, the company would record $16.75 in its sales revenue.
c. Yes, Rosa & Gene’s Pizzeria incurred a liability when it placed the $2-off coupon advertisement in the newspaper. A liability is an obligation to pay for goods or services that a company has already received. In this case, the company has offered a discount to its customers in the form of a coupon, which means that it will have to reduce the price of its products when customers use the coupon. This creates an obligation for the company to provide discounts to its customers and hence, it incurs a liability.
The liability would be recorded in the company's books as an expense that reduces its net income. However, since the coupon discount is offered after the sale has been made, the liability is recognized as a reduction in sales revenue instead of an expense. Therefore, when Stacey used the coupon to purchase the pizza, Rosa & Gene’s Pizzeria had to reduce the sales revenue by $2 to reflect the discount offered to Stacey.
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The Following Data Is Provided For Garcon Company And Pepper Company For The Year Ended December 31 . 1. Compute The Total Prime Costs For Both Garcon Company And Pepper Company. 2. Compute The Total Conversion Costs For Both Garcon Company And Pepper Company. \& Answer Is Complete But Not Entirely Correct. Complete This Question By Entering Your Answers In
1. Prime CostsPrime costs refer to the sum of direct materials and direct labor expenses that are involved in production. These costs are referred to as prime costs because they are directly connected to the manufacturing process.
Prime costs of Garcon Company are $70,000 ($40,000 + $30,000) and the prime costs of Pepper Company are $120,000 ($70,000 + $50,000).2. Conversion Costs Conversion costs refer to the sum of direct labor and indirect manufacturing expenses. Conversion costs are a measure of the costs that are involved in converting raw materials into a finished product. Conversion costs of Garcon Company are $60,000 ($30,000 + $30,000) and the conversion costs of Pepper Company are $95,000 ($45,000 + $50,000).
Explanation:To calculate the prime costs of a company, one must add the costs of direct materials and direct labor for a given period. In the case of Garcon Company, the direct materials cost $40,000 and the direct labor cost $30,000 for a total of $70,000 in prime costs. Similarly, for Pepper Company, the direct materials cost $70,000 and the direct labor cost $50,000 for a total of $120,000 in prime costs.The conversion costs refer to the sum of direct labor and manufacturing overhead. To calculate the conversion costs of a company, one must add the direct labor cost to the overhead cost for a given period.
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TRUE / FALSE. "6-Company compulsory deductions can be taken from an employnes
pay without their permission.
False. Compulsory deductions, such as taxes and Social Security contributions, can be taken from an employee's pay without their explicit permission, as they are required by law.
However, other types of deductions may require the employee's consent before they can be taken out of their pay.
For example, some employers offer benefits such as health insurance or retirement plans that require employee contributions. In these cases, the employer must obtain the employee's approval before deducting any amounts from their paycheck.
It is important for employers to follow all applicable laws and regulations regarding payroll deductions, including obtaining proper authorization from employees for any requested deductions. Failing to do so could result in legal consequences and damage to the employer-employee relationship.
Additionally, it is important for employers to clearly communicate with employees about which deductions will be taken from their paycheck and why. This information should be provided in writing, such as in a detailed pay stub, so that employees can easily understand where their money is going and how much is being deducted.
In summary, while compulsory deductions such as taxes and Social Security can be taken from an employee's pay without their explicit permission, other types of deductions may require employee consent. It is important for employers to follow all applicable laws and regulations and to clearly communicate with employees about payroll deductions.
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Suspect Company issued $600,000 of 9 percent first mortgage bonds on January 1, 20X1, at 103. The bonds mature in 20 years and pay interest semiannually on January 1 and July 1. Prime Corporation purchased $400,000 of Suspect’s bonds from the original purchaser on January 1, 20X5, for $396,800. Prime owns 60 percent of Suspect’s voting common stock.
There is a loss of $4,200 on the extinguishment of debt.
The journal entry on January 1, 20X1 for Suspect Company is given below:
Cash 618,000 [$600,000*1.03]
Discount on bonds payable 18,000 [$618,000 - $600,000]
Bonds payable 600,000On July 1, 20X1, the company will record interest expense as follows:
Interest expense ($600,000 * 9% * 6/12) 27,000
Discount on bonds payable 1,500 ($18,000 * 6/120)
Cash 25,500On January 1, 20X5, the amortized cost of the bonds payable was
$618,000 + $1,500 + $1,500 = $621,000.
The journal entry made by Prime Corporation is as follows:
Bonds payable 396,800
Loss on extinguishment of debt 4,200 ($400,000 * 1.05 * 0.06)
Cash 396,800
Prime Corporation will record interest revenue on July 1, 20X5, as follows:
Interest revenue ($400,000 * 9% * 6/12) 18,000
Investment in bonds payable ($396,800 * 0.6) 238,080 ($396,800 * 0.4)
To record bond interest received on investment in Suspect bonds payable.
The investment in bonds payable account has an amortized cost of
$400,000 - $4,200 = $395,800
after the purchase on January 1, 20X5.
The gain or loss from extinguishment of debt is the difference between the purchase price and the amortized cost of the bonds payable.
Here, the bonds were purchased for $396,800, which is less than the amortized cost of $400,000.
Hence it is a loss of $4,200
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Consider a town with three residents. The residents' demand curves for various acres of a public park are shown below. The public is willing to pay $14 for the _____ acre of parkland.
The demand curves of three residents for parkland in a town are given, and the public is willing to pay $14 per acre. We need to determine the quantity of parkland demanded.
To determine the quantity of parkland demanded, we need to find the total quantity demanded at the price of $14 per acre. We can calculate this by examining the points where each resident's demand curve intersects the price line.
Looking at the graphs, we can see that the first resident's demand curve intersects the price line at 8 acres, the second resident's curve intersects at 6 acres, and the third resident's curve intersects at 4 acres. To find the total quantity demanded, we sum up these quantities: 8 + 6 + 4 = 18 acres.
Therefore, the correct answer would be the 6th option (c) - 18th acre, as it represents the total quantity of parkland demanded by the three residents at the given price of $14 per acre.
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The demand curves of three residents for parkland in a town are given, and the public is willing to pay $14 per acre. We need to determine the quantity of parkland demanded.
To determine the quantity of parkland demanded, we need to find the total quantity demanded at the price of $14 per acre. We can calculate this by examining the points where each resident's demand curve intersects the price line.
Looking at the graphs, we can see that the first resident's demand curve intersects the price line at 8 acres, the second resident's curve intersects at 6 acres, and the third resident's curve intersects at 4 acres. To find the total quantity demanded, we sum up these quantities: 8 + 6 + 4 = 18 acres.
Therefore, the correct answer would be the 6th option (c) - 18th acre, as it represents the total quantity of parkland demanded by the three residents at the given price of $14 per acre.
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CASE STUDY [30 Marks] Ramona Smith, is not authorised by Fawaz Blane to act as an agent. Ramona is aware that Fawaz is trying to purchase a piece of property of the coast of Cape Town to undertake property development. Ramona becomes aware of a profitable investment opportunity involving elite property on the coast of Cape Town. Unfortunately, Ramona must ask quickly and is not given the opportunity to confirm her intentions prior to acting. Ramona informs the seller that she is Fawaz's agent and quickly secures the sale of that prime property. Thereafter Ramona informs Fawaz that she acted as his agent and he must ratify the act. Fawaz is overjoyed and excited to do so, he acquires the property and gives Ramona a gift of R50000.00 as a token for his appreciation. In light of the above answer the following questions Answer ALL the questions in this section. Question 1 Using examples, identify and explain the requirements that must be adhered to when a principal ratifies an act conducted by an agent. Question 2 Discuss the circumstances under which termination of agency will occur.
A. When a principal ratifies an act conducted by an agent, certain requirements must be adhered to for the ratification to be valid. B. The termination of agency can occur under various circumstances, including Fulfillment of the purpose ,Expiration of the term , Mutual agreement, Revocation by the principal .
Lets see each part in more details The principal must have full knowledge of the act that was performed by the agent on their behalf. They should be aware of the nature, terms, and consequences of the act. In the given case study, Fawaz must have knowledge of the sale of the property and the role Ramona played as his agent. Also, The principal must express their intention to ratify the act. They should clearly communicate their agreement and acceptance of the act performed by the agent. In the case study, Fawaz informs Ramona that he acted as his agent and asks him to ratify the act. most importantly he principal must have the legal capacity to ratify the act. They should be of sound mind and have the legal authority to confirm or validate the act. In the case study, Fawaz has the capacity to ratify the act as he is the owner of the property.
In general , Fulfillment of the purpose involves The agency relationship terminates when the purpose for which the agency was created has been fulfilled. For example, if an agent was appointed to sell a specific property, once the property is sold, the agency terminates. Expiration of the term is An agency can be terminated when the agreed-upon term or period for which the agency was established expires. The agency relationship ends automatically at the end of the specified term. Mutual agreement The principal and the agent can mutually agree to terminate the agency at any time. Both parties must consent to the termination, and it is recommended to have the agreement in writing. The principal has the right to revoke the agency at any time, as long as it does not violate any contractual obligations. The revocation must be communicated to the agent, and it takes effect upon receipt of the notice.
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Please explain the results of DuPont Results and provide judgment about company A's financial position based on the below table.
Please explain where is company A strong after reviewing the below financial ratio results?
Is it possible that ROE in profitability Ratio, differs from the DuPont Framework ratio when data-driven from XBRL? Why?
DuPont Framework
Company A Market Comparison
Year 2014 2015 2016 Return on Equity (ROE)=net Sales/Average shareholders' equity Company A Company B Company C
Ratio 0.15 0.2 0.26 0.26 0.42 1.42
Year 2014 2015 2016 Profit margin (PM) on sales=Net income/net sales Company A Company B Company C
Ratio 1.4 1.7 1.69 1.69 0.31 0.21
Year 2014 2015 2016 Asset Turnover (AT) = Net Sales /Average Total Assets Company A Company B Company C
Ratio 0.06 0.06 0.09 0.09 0.48 1.03
Year 2014 2015 2016 Equity multiplier (EM) =Average total assets/average total equity Company A Company B Company C
Ratio 1.2 1.23 1.23 1.23 2.39 5.2
DuPont Framework
ROE=PMxATxEM 0.19 0.36 1.12
DuPont Analysis is an important tool that helps to assess the financial position of a company. The formula for DuPont analysis is ROE = PM x AT x EM. The analysis is based on three key financial ratios: profit margin, asset turnover, and equity multiplier.
Let's look at the results of DuPont Analysis for Company A:Company A's DuPont Analysis Results:2014: ROE = 1.4% x 6% x 1.2 = 0.1%2015: ROE = 1.7% x 6% x 1.23 = 0.12%2016: ROE = 1.69% x 9% x 1.23 = 0.19%
As we can see from the table above, Company A's ROE has been increasing over the years. This suggests that the company is becoming more efficient in generating profits from its assets. The company has been able to improve its profitability by increasing its profit margins and asset turnover.
At the same time, the company has not been increasing its leverage, which is reflected in the equity multiplier that has remained stable over the years. Based on the above table, we can conclude that Company A is strong in terms of profitability and efficiency.
The company has been able to maintain its profitability over the years and has been able to generate more profits from its assets. The company has not been relying heavily on leverage to improve its profitability.
Overall, Company A's financial position appears to be strong. ROE in profitability Ratio, differs from the DuPont Framework ratio when data-driven from XBRL because the XBRL data is based on reported financial statements which can be distorted by various accounting practices such as deferred revenue recognition, non-recurring items, and accruals.
These items may not be reflected in the DuPont Framework ratio which is based on the normalized financial statements.
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Question (3): Answer the following problem: The owners of a bakery have determined that they need to expand their facility in order to meet their increased demand for baked goods. The decision is whether to expand now with a large facility or expand small. The owners have estimated the following chances for demand: - The likelihood of demand being high is 0.70. - The likelihood of demand being low is 030 . Profits for each alternative have been estimated as follows: - Large expansion has an estimated profitability of either $80000 or $50000 depending on whether demand turns out to be high or low. - Small expansion has a profitability of $40000, assuming demand is low. - Small expansion with an occurrence of high demand would require considering whether to expand further. If the bakery expands at this point the profitability is to be $50000, if does not expand further, the profitability is expected to be $30000. 2 Required: a- Draw a decision tree showing the decisions, chance events, and their probabilities, as well as the profitability of outcomes. ( 4 marks) b. Compute the expected value of the small and large expansions. ( 6 marks)
a) Decision Tree:
|--------- High (0.70) --------------|
| |
Large Expansion Small Expansion
| | | |
$80,000 $50,000 Low (0.30) High (0.70)
| |
Small Expansion Small Expansion
($40,000) | |
| |
$30,000 $50,000
b) Expected Value Calculation:
For the small expansion:
Expected value = (Profitability of low demand * Probability of low demand) + (Profitability of high demand * Probability of high demand)
Expected value = ($40,000 * 0.30) + ($50,000 * 0.70)
Expected value = $12,000 + $35,000
Expected value = $47,000
For the large expansion:
Expected value = (Profitability of low demand * Probability of low demand) + (Profitability of high demand * Probability of high demand)
Expected value = ($50,000 * 0.30) + ($80,000 * 0.70)
Expected value = $15,000 + $56,000
Expected value = $71,000
Therefore, the expected value of the small expansion is $47,000, and the expected value of the large expansion is $71,000.
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Gudas Corporation manufactures and sells a single product. Cost data for the product are given below: Variable costs per unit: Direct materials Direct labor $12 Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month 15 Units Produced 25,000 $750,000 $36 250,000 $1.000.000 The product sells for $120 per unit. Production and sales data for August follow: There was no beginning inventory. Units Sold 20,000 Required: a) Determine the unit product cost under: • Absorption costing • Variable costing b) Prepare a variable costing income statement for August. c) Prepare an absorption costing income statement for August. d) Explain why the operating income is different in parts (a) and (b).
A) Total unit product cost under absorption costing is; $103. B) Variable Costing Income Statement for August is; -$830,000. C) Absorption Costing Income Statement for August is; $605,000. D)The operating income is different in parts (a) and (b) because absorption costing allocates fixed manufacturing overhead as a cost of inventory.
Unit Product Cost under Absorption Costing:
Direct materials per unit: $12
Direct labor per unit: $36
Variable manufacturing overhead per unit: $15
Total variable cost per unit: $12 + $36 + $15 = $63
Fixed manufacturing overhead per unit: $1,000,000 / 25,000 units = $40 per unit
Total unit product cost under absorption costing: $63 + $40 = $103
Unit Product Cost under Variable Costing:
Total variable cost per unit: $63
Variable Costing Income Statement for August:
Sales Revenue: 20,000 units × $120 = $2,400,000
Variable Expenses:
Variable Cost of Goods Sold: 20,000 units × $63 = $1,260,000
Variable Selling and Administrative Expenses: 20,000 units × $36
= $720,000
Contribution Margin: $2,400,000 - $1,260,000 - $720,000
= $420,000
Fixed Expenses:
Fixed Manufacturing Overhead: $1,000,000
Fixed Selling and Administrative Expenses: $250,000
Operating Income: $420,000 - $1,000,000 - $250,000
= -$830,000
Absorption Costing Income Statement for August:
Sales Revenue: 20,000 units × $120 = $2,400,000
Cost of Goods Sold:
Beginning Inventory: 0 units × $103 = $0
Manufacturing Costs: 20,000 units × $103 = $2,060,000
Total Cost of Goods Available for Sale: $2,060,000
Ending Inventory: 5,000 units × $103 = $515,000
Cost of Goods Sold: $2,060,000 - $515,000
= $1,545,000
Gross Profit: $2,400,000 - $1,545,000 = $855,000
Selling and Administrative Expenses: $250,000
Operating Income: $855,000 - $250,000
= $605,000
The operating income is different in parts (a) and (b) because absorption costing allocates fixed manufacturing overhead as a cost of inventory (in this case, ending inventory), while variable costing treats fixed manufacturing overhead as the period expense. The difference in inventory levels between the two methods causes the discrepancy in operating income.
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All of the following are symptoms of Groupthink EXCEPT which one? Vulnerability Perception of unanimity Stereotyping Moral superiority Question 10 ( 1 point) The symbolic frame for nonprofit leaders pays most attention to
The answer to the question is "Stereotyping." Groupthink is a phenomenon that occurs when group members prioritize group consensus over critical thinking and rational decision-making. Members of a group experiencing groupthink tend to suppress dissenting opinions and ideas in order to maintain harmony and cohesion within the group.
As a result, their decision-making abilities may become compromised and lead to poor decisions.The symptoms of groupthink include the following:Vulnerability Perception of unanimity Stereotyping Moral superiority Self-censorship Illusion of invulnerability Mindguards Illusion of morality Rationalization Pressure to conformThe symbolic frame for nonprofit leaders pays most attention to organizational culture, values, and identity, as well as the symbols and meanings that reflect these concepts. In other words, the symbolic frame looks at how an organization communicates its mission, vision, and values to its stakeholders and how these elements shape the organization's culture and identity. It also focuses on the symbols and artifacts that represent these concepts, such as logos, slogans, and visual displays.
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Here is a small part of the order book for Mesquite Foods Bid Ask Price Size Bizo $.97 100 $96.50 360 5.95 720 Price $97.50 $97.80 360 360 $ 98 620 $93.80 540 $98.50 640 a. Georgina Sloberg submits a market order to sell 180 shares. What price will she receive? Price b. Norman Pilbarra submits a market order to buy 720 shares. What is the maximum price that he will pay? Note: Round your answer to 2 decimal places. Maximum price c. Carlos Ramirez submits a limit bid order at 99. Will it execute immediately? O Yes O No Here is a small part of the order book for Mesquite Foods: Bid Ask Price Size 360 Size $97 180 96.50 360 $95 Price $97.50 $97.80 $98 360 720 620 $93.80 540 $ 98.50 640 a. Georgina Sloberg submits a market order to sell 180 shares. What price will she receive? Price b. Norman Pilbarra submits a market order to buy 720 shares. What is the maximum price that he will pay? Note: Round your answer to 2 decimal places. Maximum price c. Carlos Ramirez submits a limit bid order at 99. Will it execute immediately? OYes O No
a. Georgina Sloberg submits a market order to sell 180 shares. The price she will receive is the highest bid price available, which is $97.50.
b. Norman Pilbarra submits a market order to buy 720 shares. The maximum price he will pay is the lowest ask price available, which is $97.80.
c. Carlos Ramirez submits a limit bid order at 99. Whether his order will execute immediately or not depends on the current market conditions. In the provided order book, the highest bid price available is $98, which is lower than Carlos Ramirez's limit bid price of 99. Therefore, his order will not execute immediately because there are no matching ask prices at or below his limit bid price. Carlos Ramirez's limit bid order will remain in the order book until a seller is willing to sell at or below his bid price of 99. Once a matching ask price becomes available, his order will execute.
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The objectives of the FCPA were to stop U.S. MNCs from initiating or perpetuating corruption in foreign governments and to upgrade the image of both the United States and its businesses abroad. True False 16. The current move toward privatization by an increasing number of countries is an example of the changing international regulatory environment. True False 17. Trade agreements do not require that trade benefits accorded to one nation be extended to other nations' parties to that agreement. True False 18. Embedded learning technology will allow thinking to occur in machines. True False 19. One reason for the rapid increase in telecommunications services is that many countries believe that without an efficient communications system, their economic growth may stall. True False 20. Technology does not have the potential to displace employees holding positions traditionally reserved for human thinking. True False
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16. The statement is true. The increasing number of countries moving toward privatization is indeed an example of the changing international regulatory environment.
17. The statement is false. Trade agreements typically require that trade benefits accorded to one nation be extended to other nations' parties to that agreement.
18. The statement is true. Embedded learning technology has the potential to enable thinking in machines.
19. The statement is true. Many countries believe that an efficient communications system is necessary for economic growth, leading to the rapid increase in telecommunications services.
20. The statement is false. Technology does have the potential to displace employees holding positions traditionally reserved for human thinking.
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Cash Payback Period for a Service Company Jane's Clothing Inc. is evaluating two capital investment proposals for a retail outlet, each requiring an investment of $175,000 and each with an eight-year life and expected total net cash flows of $280,000. Location 1 is expected to provide equal annual net cash flows of $35,000, and Location 2 is expected to have the following unequal annual net cash flows:
Year 1 $79,000
Year 2 60,000 Year 3 36,000
Year 4 34,000
Year 5 25,000
Year 6 19,000 Year 7 15,000 Year 8 12,000 Determine the cash payback period for both location proposals.
Location 1 years
Location 2 years
The initial investment is $175000, the net annual cash flow is $35000 and the payback period is 5.00. The cash flows are attached in the image below:
Cash flow is the net amount of cash and cash equivalents coming into and going out of a business. Inflows are represented by money received, and outflows are represented by money spent.
Fundamentally, a company's capacity to produce positive cash flows—more precisely, its capacity to maximize long-term free cash flow (FCF)—determines its capacity to provide value for shareholders. After deducting any funds used for capital expenditures (CapEx), FCF is the cash a firm generates from its regular business activities.
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CASE STUDY
The boxes containing the raw materials belonging to PaL Company, just arrived at the premises of the company in Kumasi in the two containers, a whole week late. Issah, the operations manager is furious and says to Ussif, the procurement manager; ‘is this the best you can do? I expect you to do better.’
Issah continued; we are an organization with all the capabilities. We have some of the best trained drivers, none of whom has had any accident in the past eight years. Our facilities, equipment and machines are well maintained, and our staff are always battle ready to give off their best. How could you cause a two-day break in production? You decided to engage the services of a Third-party Logistics Company to move these raw materials instead of engaging our efficient transport unit, now look at what happened.
Ussif apologizes and says, sir, what happened reminds me of the difference between the practical and the theoretical or academic approaches to management and is a test case for our strategic direction. Management had been thinking of outsourcing the transport function to SLik Logistics Limited, the company I engaged to bring in this consignment. At the last management meeting, which you had permission to be absent from because you were on leave, the performance of our transport unit was called into question. Management complained that they were inefficient because it took them an average three days to move to Accra and bring in our raw materials when those materials are cleared from the port. This according to management was not good enough. The general manager indicated that he had benchmarked the performance of our transport unit with that of SLiK Logistics Limited and they are able to bring in materials from Accra in a day. This makes our transport unit inefficient. We all know that if one group of similar elements can achieve more than another group, they are more efficient than them: simple. I reminded them that the way they were thinking is what is referred to as the theoretical or academic approach to managing affairs. Then I told them that our drivers had speed limits, overtaking rules and compulsory rest-stops and that could account for the time they take. I also reminded them that at least we can boast of having an accident-free record of eight years and we have never gone beyond three days. The safety stock is always able to keep production going till our materials arrive. For the past eight years, production has never halted because of delays in the arrival of raw materials. Taking all that into account in judging the performance of a unit is what is referred to as the practical approach to management. The general manager still insisted that they were inefficient and so all I said was ignored. The transport manager was also absent and therefore I was alone trying to defend the transport unit. At the end, it was decided that as part of the strategic shift in the organization’s operations, the transport function was to be outsourced to SLiK Logistics Limited. In line with this intended strategic move, I was practically ordered to contract SLiK Logistics Limited to transport this consignment and I had no choice than to carry out the order.
SLiK dedicated two flatbed trucks to bring the two 40ft containers to us. One had a jammed crutch at Sekyere and the other had an accident at Asankare when an on-coming saloon car run into its path and caused it to fall into a ditch. SLiK sent their maintenance staff to repair the spoilt truck and another truck to take over the load from the accident truck. Given that the truck fell into a ditch, the container cut open and the boxes containing the materials fell off, it took the loading staff three whole days to transfer the boxes onto the new truck. The repair of the spoilt truck also took longer than expected. I had to visit both scenes to ascertain what was going on. I reported the situation to management. You perhaps did not hear about it because you had just returned from leave.
The case study is about the PaL Company, which just received the boxes containing the raw materials a week late. The Operations Manager, Issah, is infuriated by this late arrival, and he blames the Procurement Manager, Ussif, for hiring the services of a third-party Logistics Company.
SLiK Logistics Limited, to transport the raw materials instead of the company's transport unit.Issah explains that the company is an organization with all the capabilities, including some of the best trained drivers who haven't had any accidents in the past eight years, well-maintained facilities, equipment, and machines, and staff always prepared to give their best. The company's transport unit is highly efficient, and it's shocking to see a two-day break in production due to the late arrival of raw materials. Ussif apologizes and explains that management was considering outsourcing the transport function to SLiK Logistics Limited due to the transport unit's inefficiency.
Issah explains that the performance of the transport unit was called into question at the last management meeting, and it took them an average of three days to move materials from Accra to Kumasi. Management found the unit inefficient and inefficient compared to SLiK Logistics Limited. However, Issah defends the unit, stating that the drivers adhere to speed limits, overtaking rules, and compulsory rest-stops. He also reminds management that the company's transport unit has an accident-free record of eight years and has never gone beyond three days. The safety stock can keep production running until raw materials arrive.
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Suppose that in an economy the (aggregate) money demand is given by
Md=$Y(0.25-i)
where the total GDP (and therefore income) of the economy $Y is$200 and i denotes the interest rate in decimal form.
Also, suppose that the supply of money given by the money emitted by the central bank and multiplied in the financial sector is $25.
Calculate the equilibrium interest rate (as a percentage)
If the Central Bank wants to increase the interest rate by 10 percentage points (0.1 in decimal form) over and above the equilibrium interest rate determined above, at what level should it set the money supply?
To increase the interest rate by 10 percentage points, the central bank should set the money supply at $30.
To find the equilibrium interest rate, we need to equate money demand with money supply:
Md = Ms
$Y(0.25-i) = $25
Substituting the value of Y as $200, we get:
$50 - $200i = $25
Solving for i, we have:
$200i = $25 - $50
$200i = -$25
i = -0.125 or -12.5%
Therefore, the equilibrium interest rate is -12.5%.
To increase the interest rate by 10 percentage points above the equilibrium rate, the central bank needs to decrease the money supply in the economy. We can use the same equation as before and solve for the new level of money supply:
$Y(0.25 - (i + 0.1)) = Ms'
$200(0.15) = Ms'
Ms' = $30
Therefore, to increase the interest rate by 10 percentage points, the central bank should set the money supply at $30.
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Using common sizing as the measure, use the following data to determine which company is likely to be underperforming. Hi Lo sales 50,000,000, net profit 10,000,000, Brooklyn sales 80,000,000, net profit 16,000,000, general food sales 19,000,000, net profit of 18,000,000, wong R John sales 120,000,000, net profit 22,000,000 (A)Food General (B)Brooklyn (C)Wong R. John (D)hi lo
Based on common sizing as the measure, the company likely underperforming is Hi Lo.
To determine the company that is likely underperforming, we need to compare the net profit margin (net profit divided by sales) of each company. By calculating the net profit margin for each company, we can identify the one with the lowest margin.
For Hi Lo, the net profit is $10,000,000, and the sales are $50,000,000. Therefore, the net profit margin is 10,000,000 / 50,000,000 = 0.2 or 20%.
For Brooklyn, the net profit is $16,000,000, and the sales are $80,000,000. The net profit margin is calculated as 16,000,000 / 80,000,000 = 0.2 or 20%.
For General Food, the net profit is $18,000,000, and the sales are $19,000,000. The net profit margin is calculated as 18,000,000 / 19,000,000 = 0.947 or 94.7%.
For Wong R. John, the net profit is $22,000,000, and the sales are $120,000,000. The net profit margin is calculated as 22,000,000 / 120,000,000 = 0.1833 or 18.33%.
Among the given companies, Hi Lo has the lowest net profit margin of 20%. This suggests that Hi Lo is likely underperforming compared to the other companies. The higher net profit margins of Brooklyn, General Food, and Wong R. John indicate better profitability in their respective operations.
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Identify TWO (2) audiovisual equipment frequently used in seminars and state their precise use. (4 marks) B. State TWO (2) advantages and TWO (2) disadvantages of the following sales tools: i. Direct mail ii. Personal calls iii. Social media (6 marks) C. The meetings and events industry is being affected by several trends. Cite TWO (2) and explain how they have been affecting the industry.
A. Two frequently used audiovisual equipment in seminars are projectors and microphones. Projectors are used to display visual content such as presentations, videos, and slideshows on a screen or wall. Microphones are used to amplify the speaker's voice and ensure clear communication with the audience.
B. i. Direct mail's advantages include targeted marketing and the ability to provide tangible materials. Disadvantages include high costs and potential for being considered "junk mail". ii. Personal calls allow for personalized communication and immediate feedback. Disadvantages include time-consuming and limited reach. iii. Social media advantages include wide reach and low cost. Disadvantages include lack of control over the platform and potential for negative feedback.
C. Two trends affecting the meetings and events industry are virtual events and sustainability. Virtual events have been affecting the industry by offering flexibility, cost savings, and increased accessibility. Sustainability has been affecting the industry by promoting environmentally friendly practices, reducing waste, and enhancing social responsibility.
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Beginning inventory: WIP = $125,000; Finished goods = $90,000
Ending inventory: WIP = $75,000; Finished goods = Not given
Cost of goods sold = $480,000; Finished goods inventory turnover = 4.0; Direct material = $200,000; Actual overhead = $220,000; Applied overhead = $210,000
Question: Calculate the direct labor added to work-in-process
a. $90,000
b. $70,000
c. $100,000
d. $80,000
e. None of the other answers are correct
The direct labor added to work-in-process, we need to consider the change in work-in-process (WIP) inventory. The formula for calculating direct labor added to WIP is:
Direct Labor Added to WIP = Ending WIP Inventory - Beginning WIP Inventory - Direct Material - Actual Overhead + Applied Overhead
From the given information:
Beginning WIP Inventory = $125,000
Ending WIP Inventory = $75,000
Direct Material = $200,000
Actual Overhead = $220,000
Applied Overhead = $210,000
Using the formula, we can calculate the direct labor added to WIP:
Direct Labor Added to WIP = $75,000 - $125,000 - $200,000 - $220,000 + $210,000 = -$260,000
The result is negative, which indicates that more costs were removed from WIP than added. It is unusual for direct labor to have a negative value. Therefore, none of the provided answers (a, b, c, d) accurately represents the direct labor added to work-in-process.
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Operational auditing has grown in importance over the last few decades.
a. Define operational auditing.
b. Who are the major users of operational audit reports.
c. List the phases of an operational audit.
Operational auditing, a term that has gained significance in recent decades, refers to a systematic examination and evaluation of an organization's operational processes, procedures, and systems. Its purpose is to assess the efficiency, effectiveness, and economy of operations, and to identify areas of improvement and risk mitigation.
The major users of operational audit reports include management at various levels, such as senior executives, department heads, and operational managers. These individuals rely on the findings and recommendations presented in the audit reports to make informed decisions, implement corrective actions, and enhance overall organizational performance.
The phases of an operational audit typically involve planning, data gathering and analysis, evaluation of internal controls, identification of operational issues and risks, development of recommendations, and reporting of audit findings to the appropriate stakeholders. Throughout these phases, auditors work closely with the auditee to understand the operational context, gather relevant data, assess compliance with policies and regulations, and provide valuable insights for enhancing operational efficiency and effectiveness.
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The purpose of this assignment is to assess and analyze the current issues regarding the STP (segmentation, targeting, and positioning) and develop the STP strategy for the brand.
Recently, Dean Foods, the largest milk company in the United States, has announced to file bankruptcy. Got milk? Americans turn to alternatives like soda, juice, and almond milk. Please address the followings:
Please identify the milk companies in the United States, and analyze American’s milk consumption/ alternatives and Develop the strategy either for the U.S. market or another country (select one country) focusing on segmentation, targeting, and positioning
The United States milk market is undergoing a significant transformation, with milk alternatives gaining popularity among customers who prioritize health and lifestyle. Therefore, milk companies in the United States must adapt to the changing market and focus on innovation and customer segmentation to remain competitive.
Dean Foods, which was the biggest milk company in the United States, has declared bankruptcy. Americans have started looking for alternatives like almond milk, soda, and juice. As a result, this assignment will assess and analyze the current issues with the STP (Segmentation, Targeting, and Positioning) strategy, as well as create the STP strategy for the brand. The United States is home to a variety of milk firms. The following are the most common milk brands in the United States: Danone (Silk), which offers plant-based milk alternatives including soy, almond, and coconut milk.
Organic Valley is a producer of natural and organic milk and dairy products such as butter, yogurt, and cream. Bo Deans Baking Group is a major supplier of buttermilk in the United States. Dairy Farmers of America is the world's largest milk co-op and also provides the services of a milk brand. They sell cheese, ice cream, and butter, among other products. According to reports, Americans are turning to milk alternatives like soda, juice, and almond milk for a variety of reasons. Some people may be lactose intolerant, while others may choose to go vegan or have a personal preference.
As a result, the following STP strategy is suggested for the United States: Segmentation: The segmentation approach for the United States market can be based on the lifestyle and health of the customer. This is because almond milk and other milk alternatives are popular among people who are health-conscious. Targeting: The strategy for the United States should be aimed at health-conscious customers, including young adults and women who are more concerned about their health.
In addition, the vegan and lactose-intolerant population should also be targeted. Positioning: The company should focus on the health benefits of their products and how it can help reduce the risk of diseases while also being environment-friendly. By offering plant-based milk alternatives, the company can differentiate itself from the rest.
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Which of the following is not one of the flaws of the 1999 Disinflation and Stabilization Program?
a. it completely disregarded the famous impossible trinity,the coexistence of free capital mobility, pegged exchange rate, and monetary policy.
b. it overestimated the role of forein direct investments
c. the targeted pace of disinflation
d. in addition to targeting the exchange rate, it set specific inflation targets.
The statement that is not one of the flaws of the 1999 Disinflation and Stabilization Program is: b. it overestimated the role of foreign direct investments.
The other statements (a, c, and d) highlight actual flaws of the program based on the given information. However, the statement in option b is not specifically mentioned as a flaw of the program. It is important to note that the absence of a flaw in this particular statement does not necessarily imply that foreign direct investments were accurately assessed or played a significant role in the program.
The flaws mentioned in options a, c, and d are more directly tied to the program's shortcomings. These flaws include disregarding the impossible trinity, issues with the targeted pace of disinflation, and the potential limitation of setting specific inflation targets alongside exchange rate targeting.
Therefore, the statement in option b is the one that is not presented as a flaw of the 1999 Disinflation and Stabilization Program based on the given information.
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Job Order Costing is one of the first costing systems developed by scholars to accommodate the needs of cost-centric industries in competitive markets. Earlier, when the industries tend to manufacture goods, they were driven by the cost of the goods where the profit margin when added to the manufacturing cost resulted in the selling price of the produced unit. This system has had major setbacks, the market when it is under diligent competition and prices are to be formulated addressing the market prices set by the competition. As a solution, the Job Order Costing (JOC) was developed. Job Order Costing aids to determine the cost of producing individual units in a manufacturing factory while figuring out this cost is a staged process including direct working hands, raw goods, and the overhead costs calculated for the production. Aggressively used in this sector at that time, the JOC was used to determine how much profit a job is. Monitor the equipment utilization and make decisions based on the data generated. Although this was the most used costing system model, it had disadvantages too where overheads were too complex to be determined and supervised due to extensive paperwork and estimate-based overheads. These conflicts and miscalculations can result in wrong customer invoicing and wrong job cost allocations subjecting us to losses ahead in time with a bad company reputation. In contrast to JOC, the Activity-Based Costing (ABC) methodology accounts for the indirect cost associated with the goods as well as the services. It acknowledges the relationship among the factors responsible for cost changes such as labor, raw goods, and overhead costs. The activity in the ABC is the cost-driven element used for service and manufacturing. ABC approach takes charge of the wide range of pool by activity against a single pooled job as well as creates volume bases for overhead costs altering the nature of several indirect costs. Write an Executive summary for the above given paragraph with a word limit of 300 words
While Job Order Costing was a widely used costing system, it had limitations in handling complex overheads and cost allocations.
Job Order Costing (JOC) was developed as a costing system to address the needs of cost-centric industries in competitive markets. Initially used in manufacturing industries, JOC helped determine the cost of producing individual units by considering direct labor, raw materials, and overhead costs. However, JOC faced challenges in accurately determining and monitoring complex overheads, leading to potential errors in customer invoicing and job cost allocations.
To overcome these limitations, the Activity-Based Costing (ABC) methodology emerged as an alternative. ABC recognizes the relationship between cost drivers and cost changes, encompassing both indirect costs associated with goods and services. It focuses on activities as the cost-driven element for both manufacturing and service sectors. By allocating costs to a wide range of activity pools rather than a single job, ABC creates volume bases for overhead costs, enabling a more accurate allocation of indirect costs.
The implementation of ABC provides a more comprehensive understanding of cost dynamics by considering various factors like labor, raw materials, and overhead costs. It enhances decision-making processes by providing detailed insights into equipment utilization and profitability analysis for each job. With ABC, companies can better adapt to competitive markets by aligning prices with market standards and optimizing cost-efficiency.
In conclusion, while Job Order Costing was a widely used costing system, it had limitations in handling complex overheads and cost allocations. The Activity-Based Costing methodology emerged as a more sophisticated approach, considering a wider range of cost drivers and providing a more accurate reflection of indirect costs. By adopting ABC, companies can gain a competitive advantage through improved cost management, better pricing strategies, and enhanced decision-making capabilities.
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W.T. Ginsburg Engine Company manufactures part ACT30107 used in several of its engine models. Monthly production costs for 1,090 units are as follows: Direct materials $41,000 6,500 Direct labor Variable overhead costs 32,500 Fixed overhead costs 23,000 Total costs $103,000 It is estimated that 10% of the fixed overhead costs assigned to ACT30107 will no longer be incurred if the company purchases ACT30107 from the outside supplier. W.T Ginsburg Engine Company has the option of purchasing the part from an outside supplier at $93.75 per unit. A. $103,000 B. $80,000 C. $82,300 D. $105,300 Swan Textiles Inc. produces and sells a decorative pillow for $104 per unit. In the first month of operation, 2,300 units were produced and 1,800 units were sold. Actual fixed costs are the same as the amount budgeted for the month. The fixed cost budget is based on the production of 2,300 units. Other information for the month includes: Variable manufacturing costs $22.00 per unit Variable marketing costs $8 per unit Fixed manufacturing costs $15 per unit Administrative expenses, all fixed $23 per unit Ending inventories: Direct materials - 0 - WIP -0- Finished goods 500 units What is the contribution margin using variable costing? OA. $136,600 B. $133,200 C. $147,600 O D. $172,800 Somerset Finishing produces and sells a decorative pillow for $104 per unit. In the first month of operation, 2,100 units were produced and 1,750 units were sold. Actual fixed costs are the same as the amount budgeted for the month. The fixed cost budget is based on the production of 2,100 units. Other information for the month includes: Variable manufacturing costs $22.00 per unit Variable marketing costs $3.90 per unit Fixed manufacturing costs $14.00 per unit Administrative expenses, all fixed $20.00 per unit Ending inventories: Direct materials - 0 - WIP - 0- Finished goods 350 units What is cost of goods sold per unit using variable costing? A. $22.00 B. $39.90 C. $59.90 D. $25.90
Here are the answers to your questions: If W.T. Ginsburg Engine Company purchases 1,090 ACT30107 parts from the outside supplier per month, then its monthly cost of goods sold will be $82,300.
Code snippet
Cost of goods sold if manufactured internally:
Direct materials $41,000
Direct labor 6,500
Variable overhead costs 32,500
Fixed overhead costs 23,000
Total cost of goods sold $103,000
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Cost of goods sold if purchased from outside supplier:
Code snippet
Purchase price 93.75 * 1,090 = $93,612.50
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Change in cost of goods sold:
Code snippet
$103,000 - $93,612.50 = $9,387.50
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The contribution margin using variable costing is $147,600.
Code snippet
Contribution margin = Sales revenue - Variable costs
= 1,800 units * $104 per unit - 2,300 units * $22 per unit - 1,800 units * $8 per unit
= $187,200 - $50,400 - 14,400
= $147,600
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The cost of goods sold per unit using variable costing is $25.90.
Code snippet
Cost of goods sold per unit = Variable manufacturing costs + Fixed manufacturing costs per unit
= $22 per unit + $14 per unit
= $25.90 per unit
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in
lonable market
question 7 is If the government exogenously increases its government purchases,
then what would happen to the national savings and investment? And
indicate the crowding-out effects Now assume that private investment does not depend on the real interest rate. Explain how the effect of an increase in government purchases is different compared to the case in Question 7 (and Questio
An exogenous increase in government purchases would lead to a decrease in national savings and an increase in investment, with potential crowding-out effects.
When the government exogenously increases its purchases, it typically needs to finance this increase through borrowing, which reduces national savings. This decrease in national savings is because the government is diverting funds away from the private sector, which would have otherwise been available for private investment. As a result, there is a crowding-out effect where government borrowing "crowds out" private investment by competing for available funds in the financial market.
However, in this scenario, where private investment does not depend on the real interest rate, the effect of an increase in government purchases is different. Without interest rate sensitivity, private investment is not influenced by changes in the cost of borrowing. As a result, the increase in government purchases does not directly impact private investment decisions. Instead, the primary effect is the decrease in national savings due to increased government borrowing. This reduced pool of savings available in the financial market may still indirectly affect private investment by potentially leading to higher interest rates or limited availability of funds for investment, depending on the response of lenders and investors in the market.
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2. Capital assets a. What is a capital asset (in your own words)? b. What are the taxable rates applied (define each and under what circumstances). c. When the sale of a capital asset generates a loss, can the taxpayer deduct it directly in their tax return? 3. Name three Deductions above the line. I 4. An individual taxpayer can deduct up to $1,000 in charity donations made in cash, regardless of whether they itemize deductions or not. (True or false).
2a. Capital assets are assets that are used in business and have a useful life of more than one year. Examples of capital assets include land, buildings, furniture, and equipment.
2b. Tax rates for capital assets are divided into long-term capital gains rates and short-term capital gains rates.
Long-term capital gains tax applies to assets held for more than one year, while short-term capital gains tax applies to assets held for less than a year.
2c. When a capital asset is sold at a loss, the taxpayer can deduct the loss from their tax return, provided they do not use it to offset other types of income taxes.
Deductions "above the line" are deductions that can be subtracted from gross income to calculate adjusted gross income.
These deductions include contributions to an Individual Retirement Account (IRA), student loan interest, and self-employment taxes and expenses, among others.
The statement" An individual taxpayer can deduct up to $300 in cash contributions made to qualified charitable organizations, regardless of whether they itemize deductions or not" is false.
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