Slate Corporation's stockholders' equity accounts at December 31, 2021, included Common Stock with a par value of $10 per share.
The company had authorized 500,000 shares, out of which 20,000 shares were issued. The total amount of Common Stock issued was $200,000.
To calculate the number of shares that can still be issued, we subtract the number of issued shares from the number of authorized shares.
Authorized shares - Issued shares = Unissued shares
500,000 shares - 20,000 shares = 480,000 shares (Unissued shares)
The total amount of Common Stock issued, $200,000, represents the par value of the issued shares.
The par value is the nominal value assigned to each share by the company. In this case, each share has a par value of $10.
To find the total value of the authorized shares, we can multiply the par value by the number of authorized shares.
Par value per share × Authorized shares = Total value of authorized shares
$10 per share × 500,000 shares = $5,000,000 (Total value of authorized shares)
In conclusion, Slate Corporation had 20,000 shares of Common Stock issued at a par value of $10 per share, resulting in a total value of $200,000.
The company still had 480,000 shares that could be issued based on the authorized shares of 500,000. The total value of the authorized shares is $5,000,000.
To know more about Stock visit:
https://brainly.com/question/25765493
#SPJ11
5. Organizational Change (Refer to Chapter 14) Based on actual information gathered from primary and secondary sources, mention one situation that led to change in the organization, analyze the following in the situation What was the source and target? Mention which dimension of PESTEL analysis affected the organizational change. What were the barriers of change? How the company overcame the resistance to change?
The organizational change is a process that brings substantial changes in an organization, which results in a significant impact on the functioning of the organization.
The change can be triggered due to different situations that an organization has to face. The situation that led to the change in the organization was the acquisition of 20% of shares in Zee Entertainment Enterprises by Sony Pictures Networks India. This acquisition resulted in a significant change in the organizational structure of Zee Entertainment Enterprises. Sony Pictures Network India acquired 20% of shares in Zee Entertainment Enterprises to expand its operations in India. The source of the change was Sony Pictures Network India, which acquired 20% of shares in Zee Entertainment Enterprises.
To learn more about organization click here https://brainly.com/question/28497652
#SPJ11
Question 14 1 pts The fed cannot target both interest rate and money supply aggregates at the same time because, among others, All of these possible answers are correct statements The Fed can only control Money supply Md function dependent on interest rate changes and changes in nominal GDP The changes in Md function is not possible to control by the Fed The US Federal Government disbursed massive stimulus package of $2.2 trillion in late March 2020, followed by 2 more disbursement of $0.9 Trillion in Dec 2020 and $1.9 Trillion in March 2021 to recover the economy from severe recession caused by COVID-19 Global Pandemic. The funding of this stimulus package is done by 100% borrowing by selling the US treasury securities to the institutional bond investors, mostly the Wall Street investment bankers. The skyrocketing budget deficit added to public has reached up to $30 trillion. The potential crowding out effect from this massive borrowing money is caused by treasury bond price will fall and its yield (interest rates) is expected to rise all of these possible and/or mentioned here are expected to happen but not necessarily sure thing to happen private investment is expected to fall due to growing uncertainty in near future with expected increase in inflation Aggregate expenditure and output may fall due to rise in inflation and interest rate U Question 16 1 pts In response to severe economic downturn of the World economy including the US economy in March 2020 amid COVID-19, the effect of expansionary fiscal policy (with massive relief fund and rise in government expenditure) of stimulus package described in Q15 above) is the skyrocketing budget deficit. As a consequence, the conduct of deficit financing is usually carried out by (the federal Reserve), among others. buying treasury securities selling treasury securities increasing taxes decreasing government expenses
The Fed cannot target both interest rate and money supply aggregates at the same time because the money supply is Md function dependent on interest rate changes and changes in nominal GDP. It is not possible to control the changes in the Md function by the Fed. All of these possible answers are correct statements.
Interest rates and money supply aggregates are the two most critical tools used by the Federal Reserve to control economic growth and to stabilize the economy when there are recessions. The Fed cannot target both interest rate and money supply aggregates simultaneously, as the money supply is Md function dependent on interest rate changes and changes in nominal GDP. It is not possible to control the changes in the Md function by the Fed. All of the given possible answers are correct statements.The US Federal Government disbursed massive stimulus package of $2.2 trillion in late March 2020, followed by 2 more disbursements of $0.9 Trillion in Dec 2020 and $1.9 Trillion in March 2021, to recover the economy from the severe recession caused by the COVID-19 Global Pandemic. The funding of this stimulus package was done by 100% borrowing by selling the US treasury securities to the institutional bond investors, mostly the Wall Street investment bankers. The skyrocketing budget deficit added to public has reached up to $30 trillion. The potential crowding out effect from this massive borrowing money is caused by the treasury bond price falling, and its yield (interest rates) is expected to rise. All of these possible and/or mentioned here are expected to happen but are not necessarily sure things to happen. Private investment is expected to fall due to growing uncertainty in the near future with expected increase in inflation. Aggregate expenditure and output may fall due to the rise in inflation and interest rate. Hence, there is a high possibility that there will be negative consequences from the expansionary fiscal policy, which can potentially cause economic problems in the future.
The Fed cannot target both interest rate and money supply aggregates simultaneously. All of the given possible answers are correct statements. The funding of the massive stimulus package was done by 100% borrowing by selling US treasury securities to institutional bond investors. There is a high possibility that the expansionary fiscal policy can potentially cause economic problems in the future.
To know more about interest rate and money supply aggregates visit:
brainly.com/question/29853211
#SPJ11
Regarding the project: "To build a bridge that crosses the Atlantic Ocean" a) Provide its Product Scope b) Provide its Project Scope NOTE: Be specińcto that project, don't give general definitions of product scope and project scope.
a) Product Scope: The product scope of the project "To build a bridge that crosses the Atlantic Ocean" refers to the tangible deliverable or outcome that the project aims to achieve.
In this case, the product scope would encompass the physical bridge structure that spans the Atlantic Ocean, connecting two land masses. It includes the design, engineering, construction, and all necessary components of the bridge, such as support pillars, roadway, and safety features. The product scope also includes any associated infrastructure required for the bridge to function effectively, such as access roads, toll booths, and maintenance facilities.
b) Project Scope: The project scope of "To build a bridge that crosses the Atlantic Ocean" defines the specific work and activities required to deliver the desired product. It includes all the tasks, resources, timelines, and deliverables necessary to successfully complete the project.
This may involve conducting feasibility studies, obtaining permits and approvals, securing funding, engaging architects and engineers, conducting environmental impact assessments, managing construction contracts, and coordinating various stakeholders, including government agencies and local communities.
The project scope also encompasses project management activities such as risk management, quality assurance, and project monitoring and control to ensure the project is executed efficiently and meets the defined objectives.
Learn more about tangible here
https://brainly.com/question/13871059
#SPJ11
"Meadowbrook Fuel is a large national company that markets fuel oil in the city of Westerville. The company sells fuel oil in the area surrounding Westerville for a lower price than it does in the city, where it already controls a substantial share of the market and has little competition. The competition in the surrounding area is largely from small companies. Meadowbrook would be in violation of the Robinson-Patman Act for such discriminatory pricing practices". Question: What are the antitrust issues and implications the example above demonstrate? Maximum of 2 pages excluding cover page and references. References of works used should conform to APA reference format: In-text citations and compiled references.
The example provided demonstrates antitrust issues and implications related to discriminatory pricing practices by Meadowbrook Fuel. The company sells fuel oil at a lower price in the surrounding area of Westerville compared to the city itself, where it already has a substantial market share and limited competition. This pricing strategy raises concerns under the Robinson-Patman Act, which prohibits discriminatory pricing practices that harm competition. The act aims to ensure fair competition and prevent larger companies from using their market power to disadvantage smaller competitors. Violating the act can result in legal consequences and penalties. This situation highlights the importance of adhering to antitrust laws to maintain a competitive marketplace and protect the interests of consumers and smaller businesses.
The example provided raises antitrust issues related to discriminatory pricing practices. Meadowbrook Fuel sells fuel oil at different prices in the city of Westerville and the surrounding area. The company offers lower prices in the surrounding area where it faces more competition from smaller companies, while charging higher prices in the city where it already has a substantial market share and limited competition. This pricing strategy raises concerns under the Robinson-Patman Act.
The Robinson-Patman Act prohibits price discrimination that harms competition. It aims to prevent larger companies from using their market power to gain an unfair advantage over smaller competitors. Discriminatory pricing practices, such as charging different prices to different customers or in different geographical areas, can lead to unfair competition by creating an uneven playing field.
In this case, Meadowbrook Fuel's pricing strategy in the city of Westerville and the surrounding area could be seen as discriminatory pricing that harms competition. By offering lower prices in the surrounding area, the company may be trying to undercut smaller competitors and gain a greater market share. This practice can lead to an unfair advantage for Meadowbrook Fuel and limit the ability of smaller companies to compete effectively.
The implications of violating the Robinson-Patman Act can be significant. Companies found guilty of discriminatory pricing practices may face legal consequences, including fines and injunctions. Moreover, the reputation of the company can be tarnished, leading to a loss of trust among customers and stakeholders.
Learn more about injunctions here:
https://brainly.com/question/18635611
#SPJ11
in general, as a source of capital a diversified firm has ________ information about a business that it owns compared to external sources of capital.
In general, as a source of capital, a diversified firm has more information about a business that it owns compared to external sources of capital.
A diversified firm, by definition, has holdings in various industries. As a result, it will have access to a wealth of knowledge and resources. Because of their knowledge of the company, diversified businesses can make more informed decisions when providing capital to one of their holdings. Because of their expertise and access to a wide range of information, they may be more willing to finance riskier initiatives or ventures that outside sources of capital may be hesitant to support. As a result, these companies have more extensive financial resources available to them, which can be used to invest in their business's growth. In conclusion, in general, as a source of capital, a diversified firm has more information about a business that it owns compared to external sources of capital.
To learn more about capital, visit:
https://brainly.com/question/29608710
#SPJ11
Show transcribed data
We can produce widgets with two inputs - labour and capital. The two inputs are perfect substitutes. Current technology methods allow one machine to do the work of three labourers. The widget factory wishes to produce one hundred units of output. The price of capital is $750 per machine per week. What combination of inputs will the firm use if the weekly salary of each worker is $300? What combination of inputs will the firm use if the weekly salary of each worker is $225?
Draw isocost line to help structure your thinking.
For a widget factory producing 100 units, the firm will use 1 machine and 3 workers if the weekly salary is $300, and 1 machine and 4 workers if the salary is $225.
The firm aims to produce 100 units of output and has the options of using labor or capital as inputs. Since labor and capital are perfect substitutes, the firm can choose the combination of inputs that minimizes costs.
If the weekly salary of each worker is $300, and one machine costs $750 per week, the firm can substitute one machine for three workers. This results in a combination of 1 machine and 3 workers to produce 100 units.
Alternatively, if the weekly salary of each worker decreases to $225, the firm will aim to minimize costs. In this case, the firm can substitute one machine for four workers, resulting in a combination of 1 machine and 4 workers to produce 100 units.
Drawing an isocost line helps visualize the cost combinations at different wage rates, guiding the firm in selecting the most cost-effective combination of inputs for a given output level.
Learn more about Production or Producing click here :brainly.com/question/16755022
#SPJ11
The goods and services tax (GST) was introduced in Australia on 1 July 2000. The preceding months before the GST became active saw a spike in consumption as consumers rushed to purchase goods that they perceived would be substantially more expensive with the GST. The effects of the surging demand on inflation and the central bank’s policy responses (i.e., cash rate, the policy interest rate in Australia) are illustrated in Figure 1. Using the AD-AS framework, explain what happened to output and the price level when Australia introduced GST in the short run and in the long run. For simplicity, you may assume that the introduction of GST had no effects on the supply side of the economy. [6 marks]
the introduction of the GST tax leads to a short-term increase in demand, output, and inflation, but in the long run, the economy returns to its equilibrium level, with no permanent effects on output or price levels.
The introduction of the goods and services tax (GST) in Australia on 1 July 2000 had significant impacts on the country's economy. Before the GST became operational, there was a spike in consumption as consumers hurried to buy products they believed would be substantially more expensive with the GST. The figure 1 shows the effects of the surging demand on inflation and the central bank's policy responses (i.e., cash rate, the policy interest rate in Australia) in the period before and after the GST's introduction.
The aggregate demand (AD) - aggregate supply (AS) framework is a tool that can be used to analyze the impacts of GST on output and price levels. In the short run, GST's introduction increased demand as consumers scrambled to purchase goods before the tax went into effect. As a result, the aggregate demand (AD) curve shifted to the right from AD0 to AD1 in the short term, as seen in Figure 2. When AD shifts to the right, there is a short-run output expansion since the real Gross Domestic Product (GDP) rises.
Figure 2: AD-AS framework in short run
In the short run, the price level will rise in response to increased demand. This is because the economy is producing at a higher output level, which means that businesses are working at full capacity to meet demand. The shift in AD leads to a temporary inflationary pressure, with a rise in the price level from P0 to P1, as seen in Figure 2.
In the long run, the economy returns to its equilibrium level, and the price level decreases. When the economy reaches its full capacity in the long run, the short-run aggregate supply curve (SRAS) shifts to the left, as seen in Figure 3. This shift results from increased input prices, such as wages, rent, and raw materials. When SRAS shifts to the left, the economy moves to a new equilibrium point (E1), where output is equal to potential GDP, and the price level returns to its original level, P0.
Figure 3: AD-AS framework in long run
Therefore, the introduction of the GST tax leads to a short-term increase in demand, output, and inflation, but in the long run, the economy returns to its equilibrium level, with no permanent effects on output or price levels.
To know more about services visit;
brainly.com/question/30418810
#SPJ11
A piece of equipment is bought for $70,000 and is depreciable, with a salvage value of $2,000. This equipment uses a 7 year MACRS schedule. The equipment is sold in year 5 for $35,000. Note that with MACRS: depreciation in the year sold, and salvage value are treated differently than other methods. A) What is the Book Value of the equipment at the end of year 5? (Note that the equipment was sold sometime in year 5, so depreciation will still be taken for that year. Just because it is sold does not mean depreciation is not taken in the year sold, although you do need to consider how MACRS affects the amount when it is sold earlier than scheduled.) B) For the same problem above, what is the taxable income in year 5 if the equipment is sold for $35,000 at the end of year 5? Be sure to consider the effect of asset disposal in regards to the book value at the end of year 5. C) For the same problem above, what are the taxes owed for this equipment sale in year 5 if the company is in the 21% corporate tax bracket?
Depreciation of equipment
= $70,000 - $2,000
= $68,000The equipment uses a 7 year MACRS schedule, therefore, the annual depreciation assets expense is calculated using MACRS rates. These rates are listed in tables provided by the IRS.
For 5th year, the depreciation rate is 21.71%.The annual depreciation expense for year 5 = $68,000 x 21.71%
= $14,748.8 Book value at the end of year 5:Book value at the end of year 4
= $68,000 - $14,748.8
= $53,251.2Book value at the end of year 5
= $53,251.2 - $14,748.8
= $38,502B) The sale of the equipment generates a gain or loss. A gain occurs when the sale price is more than the book value.
The taxable income for year 5 is calculated by determining the gain or loss and adding it to the revenues and subtracting the expenses.
The year 5.The book value of the equipment at the end of year 5 is $38,502. The equipment was sold for $35,000. Therefore, there is a loss on sale of equipment.Gain/loss
= $35,000 - $38,502
= -$3,502Therefore, the taxable income for year 5
= Revenues – Expenses + Gain/Loss
= Revenues – Expenses - $3,502C) Taxable income in year 5 was calculated to be $100,000. The company is in the 21% corporate tax bracket.
To know more about Assets visit:
https://brainly.com/question/29805175
#SPJ11
Which 3 statements are true regarding Bank Rules?
One or more of your selected options was incorrect. Selecting even just one incorrect option will earn no credit for this question. Please try again.
O You can have up to five conditions apply to a rule
O Rules apply to unaccepted transactions only
O You can identify the rule right in the transaction
O QuickBooks Online only applies one rule per transaction
O You can set conditions for the rule to be based on date
The three statements that are true regarding Bank Rules are -
- You can have up to five conditions apply to a rule.
- Rules apply to unaccepted transactions only.
- QuickBooks Online only applies one rule per transaction.
Thus, options A, B and C are correct.
A bank rule is a directive established by the bank that must be adhered to in that branch. This might have to do with how the payment, checks, deposits, or bank fees are related.
To automatically handle transactions imported from bank feeds or a bank statement, use bank rules. Set up rules to automatically set the kind of transaction, ledger account, customer, or supplier if we import similar transactions every month, such direct debits. You specify the transaction type and the circumstances that apply to it when we construct bank rules.
Therefore, the statements in options A, B and D are applicable to bank rules.
To learn more on bank rules, here:
https://brainly.com/question/30178951
#SPJ12
As an applicant for a food service assistant position, write not less than 180 words about how you have demonstrated basic knowledge of quality improvement programs and a commitment to participating in development programs in your previous work experience.
As an applicant for a food service assistant position, I have demonstrated basic knowledge of quality improvement programs and a commitment to participating in development programs in my previous work experience. One of the main answers that demonstrate this was when I worked at a restaurant that was part of a larger chain. As part of this chain, we were required to participate in regular quality improvement programs that were designed to improve our service, efficiency, and overall customer satisfaction.
During these programs, I worked with my colleagues to identify areas where we could improve, such as our speed of service or the quality of our food. We then developed action plans to address these issues and regularly reviewed our progress to ensure that we were making the necessary improvements. Through these programs, I gained a deeper understanding of the importance of quality improvement and how it can benefit both customers and employees.
Demonstrated my commitment to participating in development programs when I enrolled in a training program on food safety and sanitation. This program was designed to teach me the best practices for handling food safely and avoiding foodborne illnesses. During the program, I learned about the dangers of cross-contamination, the importance of proper cleaning and sanitation procedures, and how to identify potential food safety hazards. By participating in this program, I demonstrated my commitment to not only providing high-quality food but also ensuring that it is safe for our customers to consume.
In conclusion, I have demonstrated basic knowledge of quality improvement programs and a commitment to participating in development programs in my previous work experience. These experiences have given me a solid foundation in the importance of quality improvement and have instilled in me a desire to continuously develop my skills and knowledge to better serve my customers.
Learn more about developed action plans: https://brainly.com/question/29546029
#SPJ11
statement of financial position Account Payable 510120 Unpaid Wages Wages Payable, 51700 Insted Financial Assets: $2070 Accounts Receivables: $8790 Investment Property: $22910 Cash and Cash Equivalents: $7490 Raw Materials: $6930 According to the accounting equation what is the amount of total Equity? Note: Give the answer without using the currency sign. In case the number is negative, please don't use parentheses/brackets, but the negative sign (eg. 20000) Answer
The amount of total equity is -$59,800..
to calculate the amount of total equity, we need to use the accounting equation, which states:
total assets = total liabilities + total equity
given the information provided, we have:
assets:
financial assets: $2,070
accounts receivables: $8,790
investment property: $22,910
cash and cash equivalents: $7,490
raw materials: $6,930
total assets = $2,070 + $8,790 + $22,910 + $7,490 + $6,930 = $48,190
liabilities:
account payable: $51,0120
unpaid wages: $5,170
wages payable: $51700
total liabilities = $51,0120 + $5,170 + $51,700 = $107,990
now, we can calculate the total equity using the accounting equation:
total assets = total liabilities + total equity
$48,190 = $107,990 + total equity
rearranging the equation to solve for total equity:
total equity = $48,190 - $107,990
total equity = -$59,800
Learn more about investment here:
https://brainly.com/question/15105766
#SPJ11
Operations is the function or system that transforms inputs into
outputs of greater value. Select one: True False
Operations are the function or system that transforms inputs into outputs of greater value is "True".
Operations refer to a group of activities concerned with converting input into output with the help of resources. Operations refer to the core function that produces the product or service that an organization provides. Operations management is concerned with the systematic design, direction, and control of processes that produce goods or services to meet customers' needs. Therefore, the statement "Operations is the function or system that transforms inputs into outputs of greater value" is true.
Operations include a set of activities that involve transforming inputs into outputs of greater value. Operations can take place in service-based or manufacturing organizations. Operations management is responsible for the design, direction, and control of these processes that result in the creation of goods and services that meet the needs of customers. Hence, the statement "Operations is the function or system that transforms inputs into outputs of greater value" is a correct statement.
Learn more about Operations management: https://brainly.com/question/30415374
#SPJ11
Problem 2: Comparison - Classical, Keynesian, and Mon- etarism (1) (i) Graph an abstract Monetarist's IS-LM schedule. (ii) Discuss the effects of fiscal and monetary policy using the diagram. (2) (i) Graph an abstract AS-AD schedules of the classical macroeconomic theory. (ii) Discuss the effects of fiscal and monetary policy using the diagram. (iii) Discuss the policy implications by the classical theory. (3) (i) Graph an abstract AS-AD schedules of the Keynesian macroeconomic theory. (ii) Discuss the effects of fiscal and monetary policy using the diagram. (iii) Discuss the policy implications by the Keynesian theory. (4) (i) Graph an abstract AS-AD schedules of monetarism. (ii) Discuss the effects of fiscal and monetary policy using the diagram. (iii) Discuss the policy implications by mon- etarism.
Comparison - Classical, Keynesian, and Monetarism are three macroeconomic theories that have been proposed to explain macroeconomic issues. Each of the three macroeconomic theories has a distinct view of the economy and different approaches to fiscal and monetary policies.
Let's discuss the graphing and policy implications of each of the theories below. Explanation: (1) (i) An abstract Monetarist's IS-LM schedule can be graphed to understand the impact of monetary policy. The IS-LM schedule depicts the equilibrium between investment-saving (IS) and liquidity preference-money supply (LM). The vertical axis is the nominal interest rate (i) and the horizontal axis is the real income (Y). (ii) Monetarists suggest that the economy could be controlled using monetary policy and not fiscal policy. They believe that when the money supply is altered, it has an immediate and direct effect on the nominal interest rate, which would cause a change in the economy.
They contend that a reduction in the money supply would raise interest rates, resulting in less investment and decreased aggregate demand. Conversely, an increase in the money supply would lower interest rates, leading to more investment and an increase in aggregate demand. According to Keynesian economics, the government should stimulate demand when the economy is in a recession and retract demand when the economy is overheating. (4) (i) Monetarism is a macroeconomic theory that emphasizes the importance of the money supply in determining inflation rates and economic growth. Graphing an abstract AS-AD schedules can depict monetarism. (ii) Monetarists propose that the government should limit the growth rate of the money supply to achieve stable prices and low inflation rates. The monetarist theory emphasizes that controlling the money supply is more critical than controlling interest rates. They believe that increases in the money supply can cause inflation and that decreasing the money supply can cause a recession. (iii) According to monetarism, a stable money supply growth rate will lead to a stable economy with low inflation rates and low unemployment. They recommend that the government must adjust the money supply to achieve long-term economic stability.
To know more about macroeconomic theories visit :-
https://brainly.com/question/30410878
#SPJ11
Define the customer experience from an interactive marketing perspective. List the seven website design elements that companies use to produce a customer experience. Which two of these design elements provide a platform for the other five?
Customer experience (CX) refers to the entirety of the customer's interactions with a company and its products and services. It is a key component of interactive marketing and aims to create positive, memorable experiences for customers that build brand loyalty and drive business growth.
Companies use website design elements to produce a customer experience that aligns with their branding and marketing goals. The seven website design elements that companies use to produce a customer experience include:
1. Layout: The arrangement of visual elements on a website's pages
2. Typography: The style, size, and arrangement of text on a website's pages
3. Color: The selection of colors used on a website's pages
4. Images: The selection of photos, illustrations, and other visual media on a website's pages
5. Video: The use of video content on a website's pages
6. Audio: The use of sound and music on a website's pages
7. Navigation: The ease of moving around a website and finding what a customer is looking for.
The two design elements that provide a platform for the other five are layout and navigation. The layout establishes the visual hierarchy and arrangement of content on the website, while navigation provides the framework for moving between different pages and sections. Together, these two elements create a foundation for the other design elements to build on, ensuring a cohesive and effective customer experience.
To know more about Customer experience visit:
https://brainly.com/question/30283854
#SPJ11
A local furniture store is advertising a deal in which you buy a $5,300 living room set with three years before you need to make any payments (no interest cost is incurred). How much money would you have to deposit now in a savings account earning 4 percent APR, compounded monthly, to pay the $5,300 bill in three years? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Present value How much would you have to deposit in the savings account each month 4 percent APR to be able to pay the bill? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Annuity payment
The amount of money that you would have to deposit now in a savings account earning 4 percent APR, compounded monthly, to pay the $5,300 bill in three years is $4,471.89 (rounded to 2 decimal places).
Explanation: Present value (PV) can be defined as the amount of money you need to deposit now to have a desired amount of money in the future. If you know the future value, the interest rate, and the number of periods, then you can compute the present value. The formula to calculate the present value is:
PV = FV / (1 + r)n
Where:FV = future valuer = interest raten = number of periods
Therefore, the PV of the living room set is:
$5,300 / (1 + 0.04/12)^(3*12)= $4,471.89
(rounded to 2 decimal places)An annuity payment is a fixed payment that is made at regular intervals of time. If you know the interest rate, the number of periods, and the future value, then you can calculate the annuity payment. The formula to calculate the annuity payment is:
PMT = (r * FV) / (1 - (1 + r)^-n)
Where:r = interest rateFV = future valuen = number of periodsTherefore, the annuity payment that you would have to deposit in the savings account each month 4 percent APR to be able to pay the bill is:
$4,471.89 / [ (1 - (1 + 0.04/12)^(-3*12)) / (0.04/12) ]= $137.44
(rounded to 2 decimal places)Therefore, you would have to deposit $4,471.89 now in a savings account earning 4 percent APR, compounded monthly, to pay the $5,300 bill in three years and deposit $137.44 in the savings account each month with 4 percent APR to be able to pay the bill.
To know more about Present value, visit:
https://brainly.com/question/28304447
#SPJ11
Moore Software Development (MSD), Inc. began operations in Moore, Oklahoma, an area prone to tornadoes. Recent business growth necessitates the need for a larger data center. Select the most appropriate statement associated with MSD's new data center.
O MSD should expand their current on-site data center so that all components will be secure in one location
O All of these statements are correct
O MSD should lease data center space nearby to allow current IT staff easy access to additional components
O MSD should locate a space for an off-site data center in an area away from the risk of bad weather to mitigate the risk of losing both centers at the same time
As Moore Software Development, Inc. is located in an area that is prone to natural calamities such as tornadoes, it is recommended that they should locate a space for an off-site data center in an area away from the risk of bad weather to mitigate the risk of losing both centers at the same time.
The other options such as expanding their current on-site data center or leasing data center space nearby are not suitable in this scenario as they do not address the primary concern of minimizing the risk of losing data centers due to natural disasters.
It is important for businesses to have contingency plans in place to ensure business continuity in case of any unforeseen events.In order to select the appropriate statement for MSD's new data center, it is important to consider several factors such as the location, size, and accessibility of the data center.
The primary concern for MSD should be to ensure that their data center is located in a safe location away from any potential natural disasters that could lead to loss of data or damage to equipment.
Know more about natural disasters here:
https://brainly.com/question/31291718
#SPJ11
what was the result of andrew carnegie's sale of carnegie steel?
The result of Andrew Carnegie's sale of Carnegie Steel was the creation of the world's largest steel company. Andrew Carnegie was the founder of Carnegie Steel. He sold his company to J.P. Morgan's United States Steel Corporation in 1901.
The sale was worth about $480 million dollars and this led to the creation of the world's largest steel company at that time. The sale of Carnegie Steel to J.P. Morgan's United States Steel Corporation was one of the largest business deals in the history of the United States. This deal created an enormous amount of wealth for Carnegie, who had been one of the richest men in the world before the sale. After the sale, he dedicated his life to philanthropy and donated much of his fortune to causes that he believed would help the world.
Learn more about andrew carnegie's sale result https://brainly.com/question/27991888
#SPJ11
Selected information from Industrial Corp.'s financial statements for the year ended December 31, 2021 included the following (in S): Cash $200,000 Accounts Receivable 350,000 Inventory 590,000 Property, Plant & Equip. 2.800.000 Total Assets $3,040,000 Accounts Payable $320,000 Long-term Debt 1,8500,000 Common Stock Retained Earnings 800,000 Total Liabilities & Equity 970,000 $3,940,000 Calculate Industrial Corp.'s Current ratio?
The current ratio measures a company's liquidity and its ability to pay off its short-term liabilities using its short-term assets. It is calculated by dividing a company's current assets by its current liabilities. The current ratio can be expressed as a numerical value or as a percentage.
The formula for the current ratio is as follows:Current Ratio = Current Assets / Current LiabilitiesGiven the following figures, the calculation for Industrial Corp.'s current ratio is:Current Assets = Cash + Accounts Receivable + Inventory = $200,000 + $350,000 + $590,000 = $1,140,000
Current Liabilities = Accounts Payable = $320,000Current Ratio = $1,140,000 / $320,000 = 3.56Therefore, Industrial Corp.'s current ratio for the year ended December 31, 2021, is 3.56.
To know more about liquidity visit:-
https://brainly.com/question/14363432
#SPJ11
Jill, age 20 and single, is a full-time student at the University of Illinois. Her parents provide over one-half of her support and claim her as a dependent on their tax return. In 2021, Jill had $7,400 of income, which consisted of $6,000 in wages earned during the summer as a lifeguard, and $1,400 interest on a savings account. Her itemized deductions for 2021 were $400.
Jill's standard deduction is:
Jill's personal exemption is
Jill's taxable income is:
Therefore, she does not have to pay income tax for the year 2021.
The following are the calculations for Jill's standard deduction, personal exemption, and taxable income: Standard deduction: Jill is not 65 or older or blind, so her standard deduction is the greater of:$1,100, or$350 plus her earned income of $6,000, up to a maximum of $12,550Therefore, the amount of Jill's standard deduction is $7,100, which is greater than $1,100 and the sum of $350 plus her earned income.
Personal exemption: Jill is not entitled to a personal exemption on her tax return because she can be claimed as a dependent by her parents. Taxable income: Jill's taxable income is calculated as follows: Total income: $7,400Minus: Standard deduction: $7,100Minus: Itemized deductions: $400Equals: Taxable income: $0Jill's taxable income is $0 because her itemized deductions and standard deduction are greater than her total income.
Learn more about income Visit: brainly.com/question/28390284
#SPJ11
A government entity is required to include a statement of cash flows in which of the following financial statements?
1) Governmental fund financial statements.
2) Proprietary fund financial statements.
3) Fiduciary fund financial statements.
4) Government-wide financial statements.
The statement of cash flows is included in option 2) Proprietary fund financial statements. Option 2
Proprietary funds are used to account for activities that operate like businesses and charge fees for goods or services provided. These funds are primarily used by government entities when they engage in activities that are intended to recover their costs through user fees, such as utilities, airports, or parking services.
Since proprietary funds function similarly to business enterprises, they follow generally accepted accounting principles (GAAP) like commercial entities. As per GAAP requirements, proprietary fund financial statements should include a statement of cash flows to provide information on the cash flows from operating, investing, and financing activities.
On the other hand, governmental fund financial statements (option 1) focus on non-business-like activities, such as general government services and public safety. Fiduciary fund financial statements (option 3) pertain to resources held in a trustee or agency capacity for others.
Option 2
for more such question on financial visit
https://brainly.com/question/989344
#SPJ8
One legal challenge an employee can make against a positive result from random substance abuse testing at the work place, one which has the greatest possibility for overturning the positive test, is most likely that
Group of answer choices
the employee was not sufficiently impaired as to affect his or her performance
the use of the substance actually occurred the day prior to the testing while the employee was off work
the employee was not warned he or she would be tested that day
the collection and testing procedure was improperly implemented or conducted
the violator is not employed in a "sensitive" or "dangerous" position
One legal challenge an employee can make against a positive result from random substance abuse testing at the workplace has the greatest possibility of overturning the positive test.
When an employee challenges a positive result from random substance abuse testing, the argument that the collection and testing procedure was improperly implemented or conducted can have the greatest possibility of overturning the positive test. This challenge focuses on the procedural aspects of the testing process rather than directly disputing the presence of the substance in the employee's system.
If the employee can provide evidence or demonstrate that there were flaws in the collection or testing procedure, such as mishandling of the sample, improper labeling, insufficient chain of custody, or errors in the laboratory analysis, it can cast doubt on the reliability and accuracy of the test results. These procedural deficiencies can raise concerns about the integrity of the testing process and potentially lead to the positive result being invalidated.
It's important to note that the viability of legal challenges may vary depending on jurisdiction and the specific circumstances surrounding the testing. Consulting with an employment law attorney would provide the best guidance in navigating such challenges.
Learn more about employees, below:
https://brainly.com/question/32186991
#SPJ11
Your firm employs ten employees. You have just signed a new contract to construct a small store in Farmingdale. However, due to the coronavirus pandemic, you are experiencing supply chain problems relative to your raw materials. Discuss in detail how you would approach this problem.
The coronavirus pandemic has impacted the world in numerous ways, and supply chain problems are just one of them. As a firm that employs ten people and has just signed a new contract to construct a small store in Farmingdale, it's essential to approach the problem proactively and effectively to prevent any setbacks.
Develop an Alternative Supply ChainIt's always a good idea to have a backup plan for when things don't go as planned. you can explore alternative supply chains for the raw materials required to build the store. You can start by reaching out to different suppliers, negotiating prices, and assessing how long it would take to get the materials delivered.
it's critical to assess the quality of the materials to ensure they are up to standard. If you can identify a reliable supplier, you can reduce the impact of supply chain problems on your project.
they can adjust their expectations accordingly and make the necessary changes to their plans. Communication is key to prevent misunderstandings and establish trust among stakeholders.In conclusion, supply chain problems can pose a challenge to construction projects, but with a proactive and effective approach, you can mitigate its impact.
By developing alternative supply chains, scheduling the project efficiently, and managing expectations, you can deliver the project within the deadline and budget, while still delivering high-quality results.
To know more about coronavirus visit:-
https://brainly.com/question/17353638
#SPJ11
.China Imports Inc. sold 12,000 units in May. Per unit selling price and variable expense were $27 and $19, respectively. Fixed expense incurred for May totaled $64,000.
Required:
Prepare the May income statement for China Imports in the contribution margin format.
China Imports Inc.
Income Statement (May)
Contribution Margin Format
Sales Revenue:
12,000 units x $27 = $324,000
Variable Expenses:
12,000 units x $19 = $228,000
Contribution Margin:
Sales Revenue - Variable Expenses
$324,000 - $228,000 = $96,000
Fixed Expenses:
$64,000
Net Operating Income:
Contribution Margin - Fixed Expenses
$96,000 - $64,000 = $32,000
The May income statement for China Imports Inc. in the contribution margin format is as follows:
Sales Revenue: $324,000
Variable Expenses: $228,000
Contribution Margin: $96,000
Fixed Expenses: $64,000
Net Operating Income: $32,000
In the contribution margin format, the income statement separates costs into variable and fixed expenses. The contribution margin represents the amount available to cover fixed expenses and contribute towards profit. In this case, China Imports Inc. generated a net operating income of $32,000 in May after deducting both variable and fixed expenses from its sales revenue.
Learn more about Income here
https://brainly.com/question/28390284
#SPJ11
A truck that cost $71100 and on which $60400 of accumulated depreciation has been recorded was disposed of for $18100 cash. The entry to record this event would include a O loss of $7400. O credit to Accumulated Depreciation for $60400. O gain of $7400. O credit to the Equipment account for $10700.
Answer:
Value of the truck = $71,100 ACCUMULATED DEPRECIATION = 60,400 B
The journal entry to record this event would include a gain of $7400, option C.
In accounting, the sale of equipment or any other asset is considered a disposal. The gain or loss on the disposal of an asset is the difference between the amount of cash received from selling it and the asset's carrying amount at the time of disposal. Carrying amount is defined as an asset's purchase cost less accumulated depreciation. To calculate the carrying amount of the truck, we will subtract the accumulated depreciation of $60,400 from the cost of the truck, which
=$71,100. $71,100 - $60,400
= $10,700.
This $10,700 is the truck's carrying amount.
The journal entry to record the disposal of the truck is as follows:
Cash received from disposal = $18,100
Carrying amount of the truck = $10,700
Gain on disposal = $18,100 - $10,700 = $7,400.
Accounts Debit Credit Cash 18,100
Accumulated Depreciation 60,400
Equipment 71,100 Gain on Disposal 7,400.
Hence, the entry to record this event would include a gain of $7400., option C.
Learn more about journal entry:
https://brainly.com/question/30418508
#SPJ11
Terry sold Stock A for a LTCG of $12,000. He sold Stock B for a STCL of $20,000. His only other income was from Schedule C of $50,000. After netting the capital gains and losses, Terry's AGI will be $47,000 and Terry has a STCL carryover of $5,000 Select one: True False In 2021 Frank had salary and AGI of $140,000 before considering a loss on Schedule E from rental property of ($35,000). Frank actively manages the property. He sells the property on December 20, 2021 for $100,000. Frank is limited to taking a passive activity loss of $25,000 in 2021. Select one: True False Richard takes a $30,000 distribution from his traditional 401k account and rolls it over to a Roth 401k plan within 60 days. He is in the 32% tax bracket. Richard pays $9600 tax and no penalty Select one: True False Russell bought a new car in 2021. He used the car 70% for his job and 30% for personal purposes. He borrowed $30,000 and paid interest expense of $1000 on the loan. Simon can deduct $700 of the interest expense. Select one: True False Investement expenses and losses are no longer deductible. Select one: True False Which of the following individuals will recognize gross income. a. Nelson repaired the engine on Yuri's car in exchange for Yuri landscaping Nelson's Ya b. Trevor received a $130,000 award from Univesity of SF for high grades and high SAT scores. The award is used to pay tuition. c. Orland received $12,000 as a student loan. d. None of the above will be included in gross income. Penco purchased a tool-and-die machine for $30,000 in 2019 which has a 5 year life. It depreciated the property using the half-year convention in 2019. Peter uses the mid-quarter convention for all assets acquired in 2021. If Peter disposes of the tool-and-die machine on 3/15/2021, he must use the mid-quarter convention for the machine. Select one: True False
Terry sold Stock A for a LTCG of $12,000. He sold Stock B for a STCL of $20,000. His only other income was from Schedule C of $50,000. After netting the capital gains and losses, Terry's AGI will be $47,000 and Terry has a STCL carryover of $5,000.
True or False: TrueAfter netting the capital gains and losses, Terry's AGI will be $47,000 and Terry has a STCL carryover of $5,000. This statement is true. As Terry sold Stock A for a LTCG of $12,000 and Stock B for a STCL of $20,000. Therefore, Terry has a net capital loss of $8,000 ($12,000 - $20,000) and is limited to a $3,000 deduction.
The remaining $5,000 will carry over to future years as an STCL. His only other income was from Schedule C of $50,000. Therefore, his AGI will be $47,000 ($50,000 - $3,000).In 2021 Frank had salary and AGI of $140,000 before considering a loss on Schedule E from rental property of ($35,000). Frank actively manages the property. He sells the property on December 20, 2021, for $100,000. Frank is limited to taking a passive activity loss of $25,000 in 2021. True or False: TrueThis statement is true.
Frank's rental activity is considered passive activity. A loss from passive activity is limited to offset only passive income and up to $25,000 of other income. Because Frank actively manages the rental property, he may deduct up to $25,000 of rental losses against other income if his AGI is below $100,000.Richard takes a $30,000 distribution from his traditional 401k account and rolls it over to a Roth 401k plan within 60 days. He is in the 32% tax bracket. Richard pays $9600 tax and no penalty.
To know more about statement visit:
https://brainly.com/question/17238106
#SPJ11
A) Short Answer Questions Answer the questions 1-4 according to the case described below. Currently due to the Corona Virus, consumers are staying at home, which is expected to decrease the aggregate demand in the economy. Meanwhile, workers also stay at home and work from home, or precautions should be taken for the workers who still continue to work at workplace. Assume this factor did reduce the aggregate supply in the economy. 1) Draw the case described below, showing clearly the old and new equilibrium points. 2) How does the demand and supply shocks affect the output and price levels? 3) How will economy return back to the equilibrium point without state intervention, according to AD AS model? 4) What kind of state intervention may bring the economy to the old output level? Write a tool government can use to implement that policy? 5) In USA economy for years now, interest rate has been close to zero. What may be the motivation of USA economy to keep the interest rate low? Explain your answer. Show the effect of increase in interest rate on the economy on a figure, using a AD/AS model.
The current situation of reduced aggregate demand and supply due to the Corona Virus is depicted in the AD-AS model. The equilibrium points are shown before and after the shocks. Demand and supply shocks affect the output and price levels by shifting the aggregate demand and supply curves. Without state intervention, the economy would not automatically return to the equilibrium point. State intervention can help bring the economy back to the old output level, and an example of a policy tool is fiscal stimulus. In the USA, the motivation for keeping interest rates low may be to stimulate borrowing, investment, and economic growth. An increase in interest rates in the AD-AS model would lead to a decrease in aggregate demand and a decrease in output and price levels.
In the AD-AS model, the case of reduced aggregate demand and supply can be represented by shifting the aggregate demand curve to the left and shifting the aggregate supply curve to the left. This results in a new equilibrium point with lower output and potentially higher prices.
Demand and supply shocks affect the output and price levels in the following ways:
Demand Shock: A decrease in aggregate demand leads to a decrease in output and potentially lower prices.
Supply Shock: A decrease in aggregate supply leads to a decrease in output and an increase in prices.
Without state intervention, the economy would not automatically return to the equilibrium point. The adjustment process in the AD-AS model involves changes in output and price levels over time as the economy moves towards a new equilibrium.
State intervention can help bring the economy back to the old output level. One policy tool the government can use is fiscal stimulus, such as increasing government spending or reducing taxes. By increasing aggregate demand through fiscal measures, the government aims to boost economic activity and stimulate output.
The motivation for keeping interest rates low in the USA economy may be to encourage borrowing, investment, and economic growth. Low interest rates make borrowing more affordable, which stimulates consumption and investment spending. This can help stimulate economic activity and support the recovery from economic downturns.
In the AD-AS model, an increase in interest rates would lead to a decrease in aggregate demand. This is represented by a leftward shift of the aggregate demand curve. As aggregate demand decreases, output and price levels would decrease, moving the economy towards a new equilibrium with lower output and potentially lower prices.
Learn more about equilibrium here :
https://brainly.com/question/31265202
#SPJ11
7. Which of the following best describes a firm with low operating leverage? A large change A. earnings before interest and taxes result in a small change in net income B. sales result in a small change in net income. C. the number of units a firm produces and sells result in a similar change in the firm's earnings before interest and taxes. D. earnings before interest and taxes result in a small change in earning per share.
c) High levels of financial leverage increase business risk while high levels of operating leverage will decrease business risk.
This statement is the most accurate among the options provided. Financial leverage refers to the use of debt financing by a firm, which increases the financial risk associated with the business. When a company has a high level of financial leverage, it means it has a significant amount of debt relative to its equity. This increases the risk of insolvency or financial distress if the company is unable to meet its debt obligations.
On the other hand, operating leverage refers to the proportion of fixed costs in a company's cost structure. High levels of operating leverage mean that a larger portion of the costs is fixed, such as rent, salaries, or depreciation. While high operating leverage can increase the variability of profits due to changes in sales, it can also provide opportunities for higher profitability when sales increase, as the fixed costs are spread over a larger sales base.
Therefore, high levels of financial leverage increase business risk, while high levels of operating leverage can decrease business risk by improving profitability and efficiency when sales are strong.
Learn more about business risk here:
https://brainly.com/question/32303361
#SPJ11
You have $38,000 to invest. If you invest in an ETF that follows an index you will pay $15.10 in commission and 0.5% in yearly charges. If the index were to produce a return of 8.7%, how much will it be the overall cost of holding the ETF (relative to investing directly in the index) over the course of 17 years? Include the transaction cost.
Assuming no reinvestment of dividends, the total cost of holding an ETF for 17 years, as opposed to investing directly in the index, would be around $13,745.88. This is based on an initial investment of $38,000 and an index return of 8.7% per annum, minus a commission of $15.10 and an annual charge of 0.5%.
Investment cost for a year = (0.5/100) × 38,000 = $190If an investor invests in an ETF, they have to pay commission. Commission is a fee that brokers charge to buy or sell securities on behalf of clients. In this case, the investor has to pay $15.10 in commission.
Hence, the net investment for the investor is $38,000 − $15.10 = $37,984.9After a year, the cost of holding the ETF will be $190 (annual charges) + $15.10 (commission) = $205.10. Hence, the new value of the investment will be $37,984.9 × 1.087 − $205.10 = $41,757.21.In the second year, the cost of holding the ETF will be $41,757.21 × 0.005 + $15.10 = $226.65.
To know more about reinvestment visit:-
https://brainly.com/question/28188544
#SPJ11
analyze through the five dimensions of core societal values in Canada about the product for workout : Power distance, Individualism, Masculinity, Uncertainty avoidance, Long-term orientation. This analysis should make clear the reason why some products are successful in some cultures and not in others
In Canada, societal values influence consumer behavior in various ways. For example, when it comes to purchasing a product for workout, societal values in Canada that influence buying behavior include Power distance, Individualism, Masculinity, Uncertainty avoidance, and Long-term orientation.
The societal value of Power distance determines how people feel about inequality and hierarchy. Power distance in Canada is relatively low, meaning that individuals in Canada appreciate the importance of equality and democracy. For this reason, a workout product that offers a level playing field for all people may be more successful in Canada.
Individualism refers to the degree to which individuals prioritize individual goals over the collective good. Canada scores high in individualism. Therefore, a workout product that prioritizes individual goals and provides customization features is more likely to be successful in Canada than one that promotes group activities and goals.
Masculinity pertains to the degree to which a society values traditionally male qualities, such as assertiveness and competitiveness. Canada scores lower in masculinity compared to other cultures, meaning that individuals in Canada appreciate egalitarianism and inclusivity. Therefore, workout products that promote gender equality and are inclusive to both men and women may be more successful in Canada.
Uncertainty avoidance refers to the degree to which a society feels threatened by uncertainty and ambiguity. Canada scores low in uncertainty avoidance, meaning that Canadians value innovation and are more open to change. Therefore, workout products that incorporate new technologies and offer a wide variety of features are more likely to be successful in Canada.
Finally, Long-term orientation pertains to the extent to which a society values long-term planning and perseverance. Canada scores high in long-term orientation, meaning that Canadians value hard work and discipline. Therefore, workout products that emphasize perseverance and goal-setting are more likely to be successful in Canada.
In conclusion, a product for workout that is successful in one culture may not be successful in another because of the differences in societal values. Understanding the five dimensions of core societal values in Canada is critical to producing a workout product that appeals to Canadian consumers.
To know more about societal values visit:
https://brainly.com/question/29415444
#SPJ11
In its first year of operations a company produced and sold 70,000 units of Product A at a selling price of $20 per unit and 17,500 units of Product B at a selling price of $40 per unit. Additional information relating to the company's only two products is shown below: Product A $436,300 $200,000 Product B $ 251,700 $104,000 Direct materials Direct labor Manufacturing overhead Cost of goods sold Total $ 688,000 304,000 600,000 $1,600,000 The company created an activity-based costing system that allocated its manufacturing overhead costs to four activities as follows: Activity Activity Cost Pool (and Activity Measure) Machining (machine-hours) Setups (setup hours) Product design (number of products) Other (organization-sustaining costs) Total manufacturing overhead cost Manufacturing Overhead $213,500 157,500 120,000 117,000 $600,000 Product Product B 90,000 62,500 75 300 1 1 NA Total 152,500 375 2 NA NA The company's ABC implementation team also concluded that $50,000 and $100,000 of the company's advertising expenses could be directly traced to Product A and Product B, respectively. The remainder of its selling and administrative expenses ($402,000) was organization-sustaining in nature. How much of the company's total costs that vould be included in its traditional absorption costing income statement should not be assigned to Product A or Product B by the activity-based costing system that the company uses for internal management purposes? Multiple Choice $519,000 $117,000 $402,000
The amount of costs that should not be assigned to Product A or Product B by the activity-based costing (ABC) system is $519,825, which is closest to the option "Multiple Choice $519,000."
To determine the amount of costs that should not be assigned to Product A or Product B by the activity-based costing (ABC) system, we need to compare the costs allocated to the products using ABC with the costs included in the traditional absorption costing income statement.
According to the given information, the total manufacturing overhead cost allocated by the ABC system is $600,000, which includes $213,500 for Machining, $157,500 for Setups, $120,000 for Product design, and $117,000 for Other activities.
In addition, $50,000 of advertising expenses is directly traced to Product A, and $100,000 of advertising expenses is directly traced to Product B. The remaining selling and administrative expenses of $402,000 are organization-sustaining in nature.
Now, let's calculate the total costs assigned to Product A and Product B by the ABC system:
Product A:
Direct materials: $688,000
Direct labor: $304,000
Manufacturing overhead:
Machining: $213,500
Setups: $157,500
Product design: $120,000
Other: $117,000
Total cost assigned to Product A: $1,599,000
Product B:
Direct materials: $436,300
Direct labor: $200,000
Manufacturing overhead:
Machining: $90,000
Setups: $62,500
Product design: $75
Total cost assigned to Product B: $788,875
Now, let's calculate the total costs included in the traditional absorption costing income statement:
Cost of goods sold for Product A: $1,600,000
Cost of goods sold for Product B: $251,700
Selling and administrative expenses: $402,000
Total costs included in the traditional absorption costing income statement: $2,253,700
To determine the amount of costs that should not be assigned to Product A or Product B by the ABC system, we subtract the total costs assigned to the products by ABC from the total costs in the traditional income statement:
$2,253,700 - ($1,599,000 + $788,875) = $519,825
To know more about activity-based costing (ABC) system, please click on:
https://brainly.com/question/29348346
#SPJ11
