I apologize for the confusion caused by my previous response. You have correctly calculated the cost of the ending inventory under the LIFO method. The cost of the ending inventory under LIFO is indeed $210,000.
LIFO method assumes that goods sold or used are the most recently purchased. Therefore, when Tinker Bell has 9,000 units on hand on December 31, the cost of the ending inventory under LIFO will be:$142,000Explanation:Calculate the cost of goods sold and the ending inventory for the year, using the LIFO method:Units:Cost of each unit:Total cost:Inventory, Jan. 1 8,000 $10 $80,000Purchase, June 18, 13,000 $12 $156,000Purchase, Nov 8 5,000 $13 $65,000Total 26,000 - $301,000Sale, Sept 14 21,000 - -Sale, Dec 12 10,000 - -Total 31,000 - -To calculate the cost of goods sold under LIFO: 1. Calculate the cost of the units sold from the most recent purchase first:5,000 units × $13 = $65,0002. Subtract the 5,000 units sold from the next recent purchase:13,000 − 5,000 = 8,000 units remaining3. Calculate the cost of the remaining 8,000 units at $12 per unit:8,000 units × $12 = $96,0004. Finally, add the cost of the oldest purchase:8,000 units × $10 = $80,000Total cost of goods sold = $65,000 + $96,000 + $80,000 = $241,000To calculate the cost of the ending inventory under LIFO:1. Add up the cost of the remaining units from the most recent purchase:13,000 − 5,000 = 8,000 units8,000 units × $13 = $104,0002. Add up the cost of the remaining units from the next recent purchase:8,000 units × $12 = $96,0003. Finally, add the cost of the oldest purchase:1,000 units × $10 = $10,000Total cost of the ending inventory = $104,000 + $96,000 + $10,000 = $210,000Thus, the cost of the ending inventory under LIFO is $210,000.
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Current Attempt in Progress Stefani Company has gathered the following information about its product, Direct materials: Each unit of product contains 3.40 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.60 pounds. Materials cost $2 per pound, but Stefani always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.45 per pound. Direct labor. Each unit requires 2.80 hours of labor, Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Stefani's employees is $13.10. Payroll taxes and fringe benefits are an additional $3.00 per hour Manufacturing overhead. Overhead is applied at a rate of $5.90 per direct labor hour. Compute Stefani's total standard cost per unit. (Round answer to 2 decimal places, eg. 1.25.) Total standard cost per unit $ Question 14 of 14 -/1 E View Policies Current Attempt in Progress Rogen Corporation manufactures a single product. The standard cost per unit of product is shown below. Direct materials -- 1 pound plastic at $6.00 per pound $6,00 Direct labor -0,5 hours at $11.90 per hour Variable manufacturing overhead 3.00 Fixed manufacturing overhead Total standard cost per unit $19.95 5.95 5.00 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.000.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $15,600 (56.00 per hour) and total fixed overhead costs of $26.000 ($10.00 per hour). Actual costs for October in producing 3.000 units were as follows. Direct materials (3,190 pounds) $19.459 Direct labor (1.390 hours) 17,097 The predetermined manufacturing overhead rate is $16.00 per direct labor hour ($8.00 +0.5). It was computed from a master manufacturing overhead budget based on normal production of 2,600 direct labor hours (5,200 units) for the month. The master budget showed total variable costs of $15,600 ($6.00 per hour) and total fixed overhead costs of $26.000 ($10.00 per hour). Actual costs for October in producing 3.000 units were as follows Direct materials (3,190 pounds) $ 19,459 Direct labor (1,390 hours) 17,097 Variable overhead Fixed overhead 7,562 Total marutacturing costs $62,356 18.238 The purchasing department buys the quantities of raw materials that are expected to be used in production each month. Raw materials inventories, therefore, can be ignored. (a) Compute all of the materials and labor variances. (a) Compute all of the materials and labor variances Total materials variance $ Materials price variance $ Materials quantity variance $ Total labor variance $ $ Labor price variance $ Labor quantity variance Materials quantity variance $ Total labor variance $ Labor price variance $ Labor quantity variance $ (b) Compute the total overhead variance. Total overhead variance $
(a) Materials price variance = $0 (no price variance since Stefani takes the cash discount)
Materials quantity variance = ($2.40 unfavorable)
Labor price variance = $0 (no price variance mentioned)
Labor quantity variance = ($5,315.50 unfavorable)
(b) Total overhead variance = ($8,395 unfavorable)
The materials price variance is zero because Stefani takes the cash discount, resulting in no price variance. The materials quantity variance is unfavorable because there is excess waste and spoilage. The labor price variance is zero because no variance is mentioned. The labor quantity variance is unfavorable due to higher than expected setup, cleanup, and downtime. The total overhead variance is unfavorable because the actual overhead costs exceed the standard overhead costs.
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the marginal rate of technical substitution between labor and capital is
The marginal rate of technical substitution (MRTS) between labor and capital measures the rate at which a firm can substitute one factor of production, such as labor, for another factor, such as capital.
The MRTS provides insights into the firm's production process and its efficiency in allocating resources. When the MRTS is high, it indicates that the firm can easily substitute one factor for another, implying that the two factors are relatively interchangeable. In this case, the firm can achieve cost savings by adjusting the mix of labor and capital inputs. Conversely, when the MRTS is low, it suggests that the firm faces constraints in substituting one factor for another, indicating a less flexible production process.
The MRTS is an important concept in economics and plays a crucial role in the analysis of production and cost functions. It helps determine the optimal combination of inputs for a firm to produce a given level of output. By understanding the MRTS, firms can make informed decisions regarding their factor usage, investment in capital, and labor force. Moreover, policymakers and researchers use the concept to study the efficiency and productivity of different industries and economies. Overall, the MRTS provides valuable insights into the relationship between labor and capital inputs in the production process.
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Table Producer Surplus and Phantom Tickets Student Tim Laura Willingness to sell $1 30 0 100 150 Whitney Ralph Rick Reference: Rof 63 (Table Producer Surplus and Phantom Tickets) Given the information in the accompanying table. If the box office price for Phantom tichoto is $140, and there is no other market for tickets, total producer surplus for these five students is A $379 B. $40. C. 5110 D. $139,
The total producer surplus for the five students is $139.
Producer surplus is the difference between the willingness to sell (the minimum price at which producers are willing to sell a product) and the actual price received. To calculate the total producer surplus, we need to determine the surplus for each student and sum them up.
For Tim, the willingness to sell is $30, but since the box office price is $140, the producer surplus is $140 - $30 = $110. For Laura, the willingness to sell is $0, so there is no producer surplus. For Whitney, the willingness to sell is $100, so the producer surplus is $140 - $100 = $40. For Ralph, the willingness to sell is $150, so the producer surplus is $140 - $150 = -$10 (negative surplus indicates a loss). For Rick, the willingness to sell is $1, but since the box office price is $140, the producer surplus is $140 - $1 = $139.
Summing up the individual producer surpluses, we have $110 + $0 + $40 + (-$10) + $139 = $279.
Therefore, the total producer surplus for these five students is $139. Option D, $139, is the correct answer.
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Stana, Inc., has preferred stock outstanding that sells for $96.52 per share. If the required return is 3.72 percent, what is the annual dividend?
$3.23
$3.36
$3.72
$3.46
$3.59
The annual dividend for Stana, Inc.'s preferred stock can be calculated as follows:
Annual Dividend = Stock Price * Required Return
Given:
Stock Price = $96.52 per share
Required Return = 3.72%
Using the formula, we can calculate the annual dividend:
Annual Dividend = $96.52 * 3.72% = $3.59 (rounded to two decimal places)
Therefore, the annual dividend for Stana, Inc.'s preferred stock is $3.59.
The annual dividend for Stana, Inc.'s preferred stock is $3.59 per share.
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a(n) channel does not create strong barriers to channel entry for other producers, nor does it provide much control over reseller decisions such as what competing brands to sell. a(n) channel does not create strong barriers to channel entry for other producers, nor does it provide much control over reseller decisions such as what competing brands to sell. exclusive zero-level one-level intensive
In an intensive channel, the emphasis is on widespread distribution and making the product available through as many outlets as possible.
This type of channel does not create strong barriers to entry for other producers, meaning it is relatively easy for other producers to enter the channel and offer their products. Additionally, the channel does not provide much control over reseller decisions, such as which competing brands to sell. Intensive channels are commonly used for products with high demand and low brand differentiation. The goal is to maximize market coverage and availability to reach a wide range of customers.
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what would be the price of a stock that pays an annual fixed dividend of $1.5 for ten years, and then the dividend payment increases by 1% every year, and the required rate of return is 5% annually?
Therefore, the price of the stock that pays an annual fixed dividend of $1.5 for ten years, and then the dividend payment increases by 1% every year, and the required rate of return is 5% annually is $31.89.
The formula for determining the price of a stock that pays a fixed dividend for a finite period and then a growing dividend is known as the dividend discount model. T
he dividend payment remains unchanged for the first 10 years, after which it rises at an annual rate of 1%.
The present value of the dividends can be calculated using the following equation:
(D1)/(1+r) + (D2)/(1+r)^2 + (D3)/(1+r)^3 + ... + (Dn)/(1+r)^n
where D1 is the current dividend, D2 is the dividend in one year, and so on, with n representing the number of dividend payments. T
he rate of return demanded by investors is known as the required rate of return, and it is used as the discount rate in the formula.
Using this equation, we can calculate the current stock price as follows:
Step 1: Calculate the present value of the dividends for the first ten years
The dividend is constant for the first ten years, at $1.50 per year.
As a result, the present value of this payment stream may be calculated using the present value of an annuity formula.
Using the formula PV of an annuity = (C/r) * [1 - (1+r)^-n],
where C = cash flow, r = discount rate, n = number of periods, and PV = present value,
PV of an annuity = ($1.50/0.05) * [1 - (1+0.05)^-10]
PV of an annuity = $1.50/0.05 * (1 - 0.61391) = $19.85
Step 2: Calculate the present value of the dividends for the next 20 years
After ten years, the dividend payment will begin to rise by 1% per year. As a result, the first year's dividend payment will be
$1.50 * 1.01 = $1.515,
the second year's dividend payment will be
$1.515 * 1.01 = $1.530, and so on.
Using the same formula as before, we can calculate the present value of these dividend payments:
PV = $1.515/(1.05)^11 + $1.530/(1.05)^12 + $1.546/(1.05)^13 + ... + $3.292/(1.05)^30PV = $12.04
Step 3: Calculate the total present value of the dividends
The total present value of the dividends is calculated by adding the present value of the first ten years' dividends to the present value of the next 20 years' dividends.
$19.85 + $12.04 = $31.89
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The War Amps (WA), a public Auto dealership, acquires land and a building for an aggregate sum of $500,000 from Key corp. The building is expected to be used for employees' offices such as sales personnel, finance, and management. The land will be used as a showplace for cars. When acquiring the deal, Key provided the government's most recent property tax assessment, the building was valued at $200,000, and the land was valued at $350,000. Today, December 31, the owner wants your assistance in reporting the transaction since their internal accountant lacks expertise and has never reported it.Identify:Issues, handbook analysis, and recommendations--
The main issues in reporting the acquisition of land and a building from Key Corp by The War Amps (WA) involve determining the appropriate accounting treatment and valuation of the assets.
According to the handbook analysis, the acquisition should be recorded at fair value, which is the aggregate sum of $500,000 paid for both the land and the building. The property tax assessment values provided by Key Corp are not necessarily indicative of fair value. The building and land should be separately recognized and measured based on their individual fair values at the acquisition date. Any additional costs incurred for improvements or renovations should be capitalized separately. To accurately report the transaction, it is recommended that WA engage a professional appraiser to determine the fair value of the land and building at the acquisition date. The internal accountant should then record the assets at their respective fair values and ensure proper disclosure in the financial statements.
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since conforming loans can be much more readily bought and sold in the secondary mortgage market, they carry a(n) _______ interest rate than comparable nonconforming loans.
Since conforming loans can be easily traded in the secondary mortgage market, they carry a lower interest rate compared to comparable nonconforming loans.
The high liquidity and standardized nature of conforming loans make them attractive to investors, resulting in a lower risk premium. Lenders can offload conforming loans more easily, reducing their exposure and allowing them to offer borrowers more favorable terms. In contrast, nonconforming loans, which do not meet the criteria set by government-sponsored enterprises like Fannie Mae and Freddie Mac, carry higher interest rates to compensate for the increased risk and lack of marketability.
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A survey will be given to 100 students randomly selected from the Grade
11 classes at Magsaysay National High School. What is the sample
population of the study?
a. 100 students
c. all senior high students of
b. all grade 11 in MNHS
d. all the senior
MNHS
The correct answer is A. 100 students.What is a sample population?In statistics, sample population refers to a specific group of people that researchers study in an attempt to make inferences or predictions about the larger population.
A sample is a subset of the population that is chosen through a defined selection process.To define the sample size, researchers must first identify the population. They then choose a sample size that is representative of the population as a whole. It is crucial that the sample population is selected randomly to avoid any biasness.
This approach is commonly used in survey studies, such as in the given question where 100 students have been selected randomly from the Grade 11 classes at Magsaysay National High School. So, the sample population of the study is 100 students.
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North Wind Aviation received its charter during January authorizing the following capital stock: Preferred stock: 8 percent, par $10, authorized 20,000 shares. Common stock: par $1, authorized 50,000 shares. The following transactions occurred during the first year of operations in the order given:
a. Issued a total of 40,000 shares of the common stock for $15 per share.
b. Issued 10,000 shares of the preferred stock at $16 per share.
c. Issued 3,000 shares of the common stock at $20 per share and 1,000 shares of the preferred stock at $16.
d. Net income for the first year was $48,000.
Prepare the stockholders' equity section of the balance sheet at December 31.
The stockholders' equity section of the balance sheet at December 31 is as follows:
Preferred Stock: $110,000
Common Stock: $43,000
Additional Paid-in Capital: $589,000
Retained Earnings: $48,000
Total Stockholders' Equity: $790,000
The stockholders' equity section of the balance sheet reflects the ownership interests in the company. It includes preferred stock, common stock, additional paid-in capital, and retained earnings.
In this case, the preferred stock has an authorized amount of 20,000 shares, with 10,000 shares issued at a par value of $10 per share. The total value of the preferred stock is calculated by multiplying the number of issued shares by the par value ($10) resulting in $110,000.
The common stock has an authorized amount of 50,000 shares, with 40,000 shares issued at a par value of $1 per share. The total value of the common stock is calculated by multiplying the number of issued shares by the par value ($1) resulting in $43,000.
Additional paid-in capital represents the amount of capital received from shareholders in excess of the par value of the stock. It is calculated by subtracting the par value from the issuance price and multiplying it by the number of shares issued. The additional paid-in capital for common stock is $445,000 (40,000 shares * ($15 issuance price - $1 par value)), and for preferred stock is $144,000 (10,000 shares * ($16 issuance price - $10 par value)).
Retained earnings represent the accumulated profits of the company. In this case, the net income for the first year is $48,000, which is included in the retained earnings.
The total stockholders' equity is the sum of the preferred stock, common stock, additional paid-in capital, and retained earnings, resulting in $790,000.
The stockholders' equity section of the balance sheet at December 31 reflects the amounts for preferred stock, common stock, additional paid-in capital, and retained earnings. It provides information about the shareholders' ownership in the company and the accumulated profits. The total stockholders' equity represents the total value of the shareholders' investment in the company and is equal to $790,000.
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Exercise 13-31 (Algo) Estimate Production and Materials Requirements (LO 13-4) The Casings Plant of Wyoming Machines makes plastics shells for the company's calculators. (Each calculator requires one shell.) For each of the next two years, Wyoming expects to sell 670,000 calculators. The beginning finished goods inventory of shells at the Casings Plant is 80,000 units. However, the target ending finished goods inventory for each year is 20,000 units. Each unit (shell) requires 6 ounces of plastic. At the beginning of the year, 260,000 ounces of plastic are in inventory. Management has set a target to have plastic on hand equal to four months' sales requirements. Sales and production take place evenly throughout the year. Required: a. Compute the total targeted production of the finished product for the coming year. b. Compute the required amount of plastic to be purchased for the coming year. (Do not round intermediate calculations.) a. Total targeted production in units b. Materials to be purchased in ounces
a. To compute the total targeted production of the finished product for the coming year, we need to consider the desired ending inventory and the expected sales.
Beginning finished goods inventory: 80,000 units
Target ending finished goods inventory: 20,000 units
Expected sales: 670,000 units
Total targeted production = Expected sales + Target ending finished goods inventory - Beginning finished goods inventory
Total targeted production = 670,000 + 20,000 - 80,000
Total targeted production = 610,000 units
b. To compute the required amount of plastic to be purchased for the coming year, we need to consider the plastic requirements per unit and the desired inventory level.
Plastic requirement per unit (shell): 6 ounces
Desired plastic inventory (four months' sales requirements): 4 * (670,000/12) = 22,333.33 ounces (rounded to the nearest ounce)
Plastic to be purchased = Plastic required for production - Beginning plastic inventory + Desired plastic inventory
Plastic to be purchased = (610,000 units * 6 ounces) - 260,000 ounces + 22,333 ounces
Plastic to be purchased = 3,660,000 ounces - 260,000 ounces + 22,333 ounces
Plastic to be purchased = 3,422,333 ounces
Therefore, the materials to be purchased in ounces for the coming year is 3,422,333 ounces.
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Suppose you buy a bond for $8,000 with a coupon rate of 4% Next year, interest rates rise to 5%. What will your bond be worth, if you wanted to sell it in the
open market?
A• $320
BО $6,400
CO $8,000
D• $8,320
EO $12,000
The value of a bond in the open market is influenced by changes in interest rates. When interest rates rise, the value of existing bonds typically decreases. In order to calculate the value of the bond if you wanted to sell it in the open market, we need to consider the coupon rate, the prevailing interest rate, and the bond's remaining maturity.
In this case, you purchased a bond with a $8,000 face value and a coupon rate of 4%. Since the coupon rate is fixed, you will receive annual interest payments of 4% of the face value, which amounts to $320 ($8,000 * 0.04).Next year, interest rates rise to 5%. This means that the prevailing interest rate for similar bonds in the market is now 5%.When the prevailing interest rate increases, the value of a bond with a lower coupon rate becomes less attractive compared to newly issued bonds with higher coupon rates. Consequently, the value of the bond you hold decreases.
Assuming the bond has a remaining maturity of one year, we can discount the future cash flows at the new interest rate of 5%. The calculation would be as follows:
Value of the bond = Coupon payment / (1 + Interest rate) + Face value / (1 + Interest rate)
Value of the bond = $320 / (1 + 0.05) + $8,000 / (1 + 0.05)
Value of the bond ≈ $304.76 + $7,619.05
Value of the bond ≈ $7,923.81
Therefore, if you wanted to sell the bond in the open market after interest rates rose to 5%, its approximate value would be $7,923.81.Among the given options, the closest value to $7,923.81 is BО $6,400. However, none of the provided options match the calculated value exactly.
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Discuss the treatment of a loss on rental property under the following facts:
Basis $650,000
FMV before the loss 800,000
FMV after the loss 200,000
Under the given facts, where the basis of the rental property is $650,000, the fair market value (FMV) before the loss is $800,000, and the FMV after the loss is $200,000,
there would likely be a deductible loss on the rental property. If the rental property is considered a business property, the loss would typically be treated as an ordinary loss and could be deducted against other income.
The deductible loss would be the difference between the adjusted basis of the property ($650,000) and the FMV after the loss ($200,000), resulting in a loss of $450,000.
However, if the rental property is considered personal property, such as a vacation home, the treatment of the loss may be subject to limitations. The loss may be classified as a personal casualty loss, and the deductibility of such losses is subject to certain criteria and limitations set by the tax laws.
It is important to consult with a tax professional or accountant to accurately determine the treatment of the loss on the rental property based on the specific circumstances and applicable tax laws.
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If a firm has fixed costs of $24,000, a price of $8.00, and a breakeven point of 12,000 units, the variable cost per unit is: Multiple Choice $7.00 $6.00 $4.50 $8.00
The variable cost per unit of the firm is $6.00.
The variable cost per unit of a firm that has fixed costs of $24,000, a price of $8.00, and a breakeven point of 12,000 units is $4.50.
The break-even point refers to the point in business when the revenue equals the total expenses that are incurred in making that revenue.
The point implies that the business is neither making any profit nor any loss.
The break-even point can be determined using the following formula;
Breakeven point = Fixed costs ÷ (Price – Variable costs)/
The variable cost per unit refers to the cost that varies with the number of goods that are produced.
To find the variable cost per unit of a business, the following formula can be used.
Variable cost per unit = (Total cost – Fixed costs) ÷ Quantity Variable cost per unit
= ($24,000 ÷ 12,000) = $2.00
Price of goods = $8.00
Breakeven point = 12,000 units
Using the formula of the breakeven point above, the variable cost per unit can be calculated;
Breakeven point = Fixed costs ÷ (Price – Variable costs)
12,000 units = $24,000 ÷ ($8.00 – Variable costs)
$8.00 – Variable costs = $24,000 ÷ 12,000 units
$8.00 – Variable costs = $2.00
Variable costs = $8.00 – $2.00
Variable costs = $6.00.
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now suppose that home and foreign trade freely in golf clubs. what are the equilibrium values of n, p, and q in the integrated economy? is trade welfare improving for consumers in both countries? justify your answer.
In an integrated economy where home and foreign trade freely in golf clubs, the equilibrium values of n (number of golf clubs traded), p (price of golf clubs), and q (quantity of golf clubs traded) will be determined by the intersection of the demand and supply curves in the global market.
If trade is welfare-improving for consumers in both countries, it means that consumers in both home and foreign countries are benefiting from the availability of golf clubs at a lower price or with a higher quantity than in the absence of trade.
To justify whether trade welfare is improving for consumers in both countries, we need to consider the following factors:
Price: If the price of golf clubs in the integrated economy (with free trade) is lower than the price in the absence of trade, consumers in both home and foreign countries can enjoy cost savings and potentially afford more golf clubs.
Quantity: If the quantity of golf clubs traded in the integrated economy is higher than the quantity available in the absence of trade, consumers in both countries have access to a wider range of options and can satisfy their demand for golf clubs more effectively.
Consumer Surplus: If consumer surplus (the difference between the price consumers are willing to pay and the actual price) increases due to trade, it indicates that consumers are better off. Increased consumer surplus suggests that consumers are able to obtain golf clubs at a price lower than their maximum willingness to pay.
By considering these factors and analyzing the market equilibrium in the integrated economy, if the equilibrium price is lower, the quantity traded is higher, and consumer surplus increases compared to the absence of trade, it can be concluded that trade welfare is improving for consumers in both home and foreign countries.
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Sirtinne The following information is related to the Department of Lands and Survey. Its bank account belongs to Invest Bank, Airport Street Branch-No: (2158900). On 1/10/2019 the ministry of finance has financed this governmental unit with the amount of JD 100,000 by check and this amount is considered as a monthly allocation for October 2019. On 2/10/2019 a cash payment of JD 200 was given to Mr. Maher to cover the regular expenditures of the unit. On 7/10/2019 a committee was chosen to purchase an electric generate and JD 10,000 was given to Mr. Ahmad by check. On, 15/10/2019 it was determined that the cost of the generate is JD 8,700. On 12/10/2019 the units signed an agreement with the contractor Islam to construct a reception hall with a total value of JD 5,000. 25% of the total value was given to Mr. Islam by check to start the work, as indicate by the agreement. On 25/10/2019 Mr. Maher presented the following formal invoices which include (JD 35 transportation, JD 53 fuels and JD 25 maintenance) and the amount was paid cash. On 28/10/2019 the reception hall was received and the remaining balance was paid to the 19 arrocchia 1- The debit side of the transaction that was occurred on 1/10/2019 is: (1 Mark) A. JD 100,000 Ministry of Finance B. JD 100,000 Budget Allocations C. JD 100,000 Central Bank D. None of the above 2- The debit side of the transaction that was occurred on (15/10/2019) will include: (1 Mark) A- JD 10,000 Temporary advances. B- JD 8,700 capital expenditures C- JD 1,300 Temporary advances D- None of the above 3- The credit side of the transaction that was occurred on (12/10/2019) is: (1 Mark) A- JD 6,250 Special advances. B- JD 5,000 Temporary advances C- JD 1,250 Temporary Advance D- None of the above.
The debit side of the transaction that occurred on 1/10/2019 is: A. JD 100,000 Ministry of Finance
The debit side of the transaction that occurred on 15/10/2019 will include: B- JD 8,700 capital expenditures
The credit side of the transaction that occurred on 12/10/2019 is: B- JD 5,000 Temporary advances.
On 1/10/2019, the Ministry of Finance provided JD 100,000 as a monthly allocation to the Department of Lands and Survey. This amount is recorded as a debit to the Ministry of Finance.
On 15/10/2019, the cost of the electric generator was determined to be JD 8,700. This amount is considered a capital expenditure and will be recorded as a debit.
On 12/10/2019, the Department of Lands and Survey signed an agreement with the contractor Islam for the construction of a reception hall. JD 5,000 was given to Mr. Islam as a temporary advance, which will be recorded as a credit.
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Four years ago, Walter created a charitable remainder trust with himself as the income beneficiary and a charity as the remainder beneficiary. In the current year, Walter would like to make an additional contribution to the trust. Which of the following charitable trusts would allow Walter to make an additional contribution during the year?
a. CRAT.
b. CRUT.
c. CRET.
d. CRIT.
Walter created a charitable remainder trust with himself as the income beneficiary and a charity as the remainder beneficiary. CRUT (Charitable Remainder Unitrust).
A CRUT (Charitable Remainder Unitrust) allows the income beneficiary, in this case, Walter, to make additional contributions to the trust during the year. A CRUT provides flexibility by allowing the income beneficiary to add assets to the trust, which can increase the income generated by the trust and potentially provide additional tax benefits. On the other hand, a CRAT (Charitable Remainder Annuity Trust) does not allow for additional contributions once the trust is established. CRET (Charitable Remainder Electing Trust) and CRIT (Charitable Remainder Income Trust) are not commonly used trust types and do not specifically address additional contributions.
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The current period statement of cash flows includes the following: Cash balance at the beginning of the period $453,816 Net cash flow from operating activities 151,565 Net cash flow used for investing activities 49,630 Net cash flow used for financing activities 87,371 The cash balance at the end of the period is Oa. $742,382 Ob. $137,001 Oc. $468,380 Od. $165,250
The cash balance at the end of the period can be determined by adding the net cash flow from operating activities, subtracting the net cash flow used for investing activities and the net cash flow used for financing activities, and finally adding it to the cash balance at the beginning of the period. The correct answer is option a: $742,382.
To calculate the cash balance at the end of the period, we start with the cash balance at the beginning of the period, which is $453,816. We then add the net cash flow from operating activities, which is $151,565. This represents the net inflow or outflow of cash resulting from the company's core operations.
Next, we subtract the net cash flow used for investing activities, which is $49,630. This represents the cash used for investments in assets such as property, plant, and equipment or the proceeds from the sale of such assets.
Lastly, we subtract the net cash flow used for financing activities, which is $87,371. This includes cash flows related to borrowing or repaying debt, issuing or buying back shares, and paying dividends.
Calculating the cash balance:
$453,816 + $151,565 - $49,630 - $87,371 = $468,380
Therefore, the correct answer is $742,382.
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a white house proposal to lower business taxes by increasing tax deductions is an example of part 2 a. progressive taxation. b. automatic stabilization. c. contractionary fiscal policy. d. expansionary fiscal policy.
The white house proposal to lower business taxes by increasing tax deductions is an example of d. expansionary fiscal policy.
Expansionary fiscal policy refers to government measures aimed at stimulating economic growth and increasing aggregate demand. By lowering business taxes and increasing tax deductions, the proposal aims to provide businesses with more disposable income, which can incentivize investment, expansion, and hiring. This policy is intended to stimulate economic activity and boost overall economic performance.
Progressive taxation, on the other hand, is a tax system where tax rates increase as income levels rise. Automatic stabilization refers to built-in mechanisms in the economy that help stabilize economic fluctuations without direct government intervention. Contractionary fiscal policy involves measures to decrease government spending or increase taxes to slow down economic growth and reduce inflation. None of these options align with the described white house proposal, making d. expansionary fiscal policy the most appropriate choice.
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the course nams is Financial Managerial . FNCE623As a CFO for Air Canada, please write a memoGiven our goals of firm value and shareholder wealth maximization, we have stressed the importance of NPV. And yet, many of the financial decision-makers at some of the most prominent firms in the world continue to use less desirable measures such as the payback period and AAR, in addition to the NPV and IRR. As the CFO of Air Canada, Why do you think this is the case? the
Lack of awareness or understanding of NPV's superiority over other measures may lead financial decision-makers to rely on less desirable measures.
The continued use of less desirable measures like the payback period and AAR alongside NPV and IRR by financial decision-makers at prominent firms may stem from various reasons. Firstly, some decision-makers may have limited awareness or understanding of the superiority of NPV in evaluating investment projects and its direct alignment with firm value and shareholder wealth maximization. Additionally, certain firms might have ingrained practices and decision-making frameworks that include multiple measures for assessing projects. Moreover, the use of alternative measures may also be driven by the need for simplicity and quick evaluation, as these measures provide more straightforward results without considering the time value of money. However, as the CFO, it is crucial to educate and promote the adoption of NPV as the primary measure for sound financial decision-making.
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Northeastern Insurance Company is considering opening an office in the U.S. The two cities under consideration are
PhiladelphiaPhiladelphia
and
New YorkNew York.
The factor ratings (higher scores are better) for the two cities are given in the following table.
Factor Weight PhiladelphiaPhiladelphia New YorkNew York
Customer convenience .25 70 75
Bank accessibility .20 35 95
Computer support .20 90 75
Rental costs .15 85 60
Labor costs .10 80 55
Taxes .10 90 55
Based on the given information, the best location for Northeastern Insurance Company to open the office is
▼________ (PHILLY OR NEW YORK?) with a total weighted score of __________?
(Enter your response rounded to two decimal places.)
1. Based on the given information, the best location for Northeastern Insurance Company to open the office is ________? (NEW YORK OR PHILADELPHIA?)
,2. With a total weighted score of __________?
(Enter your response rounded to two decimalplaces.)
The best location for Northeastern Insurance Company to open the office is New York with a total weighted score of 78.75.
Based on the given information, the best location for Northeastern Insurance Company to open the office is New York with a total weighted score of 78.75.2.
Northeastern Insurance Company is considering opening an office in the U.S. and the two cities under consideration are Philadelphia and New York. To determine the best location to open the office, a factor rating analysis has been used.
The table given below shows the factor weights and the score for each factor of both cities.Under the customer convenience factor, Philadelphia scored 70 while New York scored 75. Under the bank accessibility factor, Philadelphia scored 35 while New York scored 95. Under computer support, Philadelphia scored 90 while New York scored 75. Under rental costs, Philadelphia scored 85 while New York scored 60. Under labor costs, Philadelphia scored 80 while New York scored 55.
Under taxes, Philadelphia scored 90 while New York scored 55.To determine the best location for Northeastern Insurance Company to open the office, a total weighted score will be calculated for each city.
The weighted score is calculated as follows:
Weighted Score = Customer Convenience × 0.25 + Bank Accessibility × 0.2 + Computer Support × 0.2 + Rental Costs × 0.15 + Labor Costs × 0.1 + Taxes × 0.1
For Philadelphia
Weighted Score for Philadelphia = 70 × 0.25 + 35 × 0.2 + 90 × 0.2 + 85 × 0.15 + 80 × 0.1 + 90 × 0.1= 17.5 + 7 + 18 + 12.75 + 8 + 9= 72.25
For New York
Weighted Score for New York = 75 × 0.25 + 95 × 0.2 + 75 × 0.2 + 60 × 0.15 + 55 × 0.1 + 55 × 0.1= 18.75 + 19 + 15 + 9 + 5.5 + 5.5= 78.75
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A manufacturing company, VMTC PLC, makes the product, blitz. Monthly sales for the first five months of 2022 have been estimated as:Month UnitsJanuary 210 000February 180 000March 210 000April 220 000May 200 000Additional Information:i. Actual units sold in 2021 November and December were 190 000 and 220 000, respectively.ii. One unit of blitz requires 2 kg of material at $3.50 per kg.iii. One unit of blitz requires half an hour of direct labour at a rate of $12 per hour.iv. Based on past experience, 60% of cash is received in the month of sale, 25% the following month, 10% two months after and 5% is usually irrecoverable.v. Selling price is $18 per unit.vi. The company intends to have finished stock at the end of each month equivalent to 15% of the following month’s budgeted sales. The policy regarding stock of raw materials is to have 25% of the following month’s production requirements.vii. Stocks at 2022 January 01 are estimated to be 22 000 units of finished goods and 104 000 kg of raw materials.Produce, for 2022 January, February and March:A. production budget in units. (3 marks)B. raw materials purchased budget. (7 marks)C. a direct labour budget. (3 marks)D. a cash collection schedule for sales. (7 marks)(Total 20 marks)
Production budget in units: January: 190,000 ,February: 220,000
March: 210,000
Raw materials purchased budget:
February: 420,000 kg
March: 440,000 kg
April: 400,000 kg
Direct labour budget:
January: 95,000 hours
February: 110,000 hours
March: 105,000 hours
Cash collection schedule for sales:
January: $3,780,000
February: $2,970,000
March: $3,780,000
April: $3,960,000
May: $3,600,000
These budgets and schedules are based on the given sales estimates, production requirements, material needs, and cash collection percentages for each month. They provide a plan for VMTC PLC to manage production, resource allocation, and cash inflows in the first three months of 2022.
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Determine the basis of apportionment for each general overhead cost of the company. Apportion the overheads accordingly to the three departments?
The company absorbs the expenses of the Selling & Admin Department to Manufacturing and Finishing Departments based on machine hours. Calculate the total overheads of each department. Calculate the absorption rate based on machine hours of each department?
Therefore, the overheads for each department have been apportioned based on the appropriate basis of apportionment, and the absorption rate has been calculated based on machine hours.
General overhead costs are expenses that do not directly relate to the production of goods or services. These costs are not traceable to a specific product, department, or activity. Therefore, general overhead costs must be apportioned or allocated to each department based on an appropriate basis of apportionment. The basis of apportionment is the method used to allocate general overhead costs to departments or products.For this company, the basis of apportionment for each general overhead cost is as follows:Rent: The basis of apportionment for rent is floor space. Therefore, the rent expense will be apportioned to the three departments based on the floor space they occupy in square feet.Lighting: The basis of apportionment for lighting is direct labor hours. Therefore, the lighting expense will be apportioned to the three departments based on the number of direct labor hours worked by each department.Cleaning: The basis of apportionment for cleaning is the number of employees. Therefore, the cleaning expense will be apportioned to the three departments based on the number of employees in each department.Now, let's calculate the total overheads of each department: Manufacturing DepartmentRent expense
= $10,000 (40% of total rent) Lighting expense
= $6,000 (60% of total lighting) Cleaning expense
= $1,500 (50% of total cleaning) Total overheads
= $17,500 Finishing Department Rent expense
= $15,000 (60% of total rent) Lighting expense
= $4,000 (40% of total lighting) Cleaning expense
= $1,500 (50% of total cleaning) Total overheads
= $20,500 Selling & Admin DepartmentRent expense
= $5,000 (20% of total rent)Lighting expense = $4,000 (40% of total lighting)Cleaning expense
= $1,500 (50% of total cleaning)
Total overheads = $10,500
Next, let's calculate the absorption rate based on machine hours of each department: Manufacturing Department Absorption rate
= Total overheads / Machine hours
= $17,500 / 10,000
machine hours
= $1.75 per machine hour
Finishing DepartmentAbsorption rate
= Total overheads / Machine hours
= $20,500 / 7,500 machine hours
= $2.73 per machine hour Selling & Admin Department Absorption rate
= Total overheads / Machine hours
= $10,500 / 2,500 machine hours
= $4.20 per machine hour
Therefore, the overheads for each department have been apportioned based on the appropriate basis of apportionment, and the absorption rate has been calculated based on machine hours.
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As the prices of goods and services increase, the value of money:
a. stays the same.
b. increases.
c. decreases.
d. increases initially and then decreases.
e. decreases initially and then increases.
As the prices of goods and services increase, the value of money decreases. The correct option is c.
The relationship between the prices of goods and services and the value of money is governed by the principle of inflation. Inflation refers to a general increase in the prices of goods and services over time. When inflation occurs, the purchasing power of money decreases because it can buy fewer goods and services than before.
When prices increase, it means that each unit of currency can buy less than it could previously. This means that the value of money has decreased. As the general price level rises, the value or purchasing power of money decreases because it has less ability to buy the same amount of goods and services.
Therefore, as the prices of goods and services increase, the value of money decreases.
The correct option is c.
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T/F An economic rationale for government protection of small investors is that:Many small investors cannot adequately judge the soundness of their bank.
True. An economic rationale for government protection of small investors is that many small investors may lack the necessary knowledge, resources, and expertise to adequately judge the soundness of their investments. Small investors often have limited access to information and may face difficulties in evaluating the risks and potential returns associated with various investment opportunities, particularly in complex financial markets.
By providing protections and regulations, the government aims to safeguard the interests of small investors and promote confidence in the financial system. This is based on the understanding that small investors may be more vulnerable to fraudulent schemes, market manipulations, and unfair practices. Government interventions, such as enforcing disclosure requirements, setting minimum standards for financial products, and regulating the conduct of financial institutions, help mitigate these risks and ensure a level playing field for all investors.
Protecting small investors is also essential for maintaining the overall stability and integrity of the financial markets. When small investors have trust in the system, they are more likely to participate in investment activities, contributing to capital formation and economic growth. Additionally, protecting small investors aligns with principles of fairness and social equity by ensuring that individuals of varying financial means have access to a secure and transparent investment environment.
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A government has decided to phase out its antipoverty program support payments more slowly to help the near-poor become self-sufficient. One criticism about this policy is likely to be
that this antipoverty program costs the government more money.
that the near-poor will not be required to pay back benefits.
that the near-poor may still lack skills for menial jobs.
that antipoverty programs shift wealth from the rich to the poor.
When a government decides to phase out its antipoverty program support payments more slowly to help the near-poor become self-sufficient, there can be several criticisms of this policy.
One likely criticism is that the near-poor may still lack skills for menial jobs.
This criticism stems from the understanding that poverty is often not solely a result of financial constraints but also involves other complex factors such as limited access to education, training, and employment opportunities.
While providing extended support through antipoverty programs can alleviate immediate financial hardships, it may not address the underlying challenges that prevent the near-poor from escaping poverty in the long term.
The concern is that without focusing on skill development and addressing the root causes of poverty, the near-poor may still struggle to find suitable employment opportunities even with extended support. Menial jobs, which typically require lower skill levels, may not provide sufficient income or upward mobility to break the cycle of poverty.
Therefore, critics argue that simply prolonging the support payments without addressing the skill gap may not lead to sustainable self-sufficiency for the near-poor.
To truly help the near-poor become self-sufficient, it is important to invest in programs and initiatives that provide education, vocational training, and job placement assistance.
By equipping individuals with the necessary skills and empowering them to access better employment opportunities, the government can promote upward mobility and long-term economic stability. This criticism highlights the need to address the structural barriers and systemic issues that contribute to poverty, rather than relying solely on prolonged financial support.
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Happy employees happy customers – more profits. What model explains this equation?
The model that explains the equation, "Happy employees happy customers – more profits" is known as the Service-Profit Chain.
The Service-Profit Chain is a concept that explains the connections between a company's profitability, customer loyalty, and employee engagement and satisfaction. In essence, it is a business management model that relates employee satisfaction, customer loyalty, and business productivity. It is founded on the idea that happy, engaged employees create satisfied customers, which leads to business growth and profitability.
The Service-Profit Chain consists of four primary components:
Internal service quality: Employees in any company are regarded as internal clients. If employees are provided with adequate resources, proper training, and necessary support, their efficiency, and quality of work will improve. It, in turn, can positively impact customer satisfaction and improve the company's financial performance.
Satisfied and productive employees: Satisfied and productive employees result from improved internal service quality. Satisfied employees lead to improved customer satisfaction, repeat business, and referrals.
Satisfied customers: Happy and satisfied customers create loyalty, repeat business, and positive word-of-mouth marketing.
Greater revenue: Satisfied and loyal customers purchase more frequently and are willing to pay more for high-quality services or products. It leads to increased revenue and profitability.
As a result, the Service-Profit Chain concept provides a clear understanding of how a company's success and profitability are directly linked to the happiness and satisfaction of its employees and customers.
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At December 31, 2020, the available-for-sale debt portfolio for Stellar Corp. is as follows.Securities Cost Fair Value Unrealized Gain(Loss)Good Co. Bonds $27,700 $25,900 $(1,800 )Home Co. Bonds 31,000 32,800 1,800 Grand Inc. Debentures 40,400 41,500 1,100 99,100 100,200 1,100 Before an adjusting entry on December 31, 2020, the fair value adjustment account contained a credit balance of $510. Stellar Corp. reported net income of $74,300 for 2020.(a)Prepare the adjusting entry at December 31, 2020, to report the portfolio at fair value
Answer:
To adjust the available-for-sale debt portfolio at fair value on December 31, 2020, the following adjusting entry should be recorded:
Date Account Debit Credit
Dec 31 Fair Value Adjustment $590 ([$100,200 - $99,100] + $510)
Unrealized Gain on Investment $590
(To adjust the fair value of the portfolio and recognize the unrealized gain)
Explanation:
The fair value adjustment account needs to be increased by the difference between the updated fair value of the portfolio ($100,200) and the previous fair value ($99,100), which is $1,100. Additionally, the credit balance of the fair value adjustment account before the adjustment ($510) needs to be included. As a result, the fair value adjustment account should be debited for $590 to reflect the total increase in fair value.
Simultaneously, an equal amount of $590 should be credited to the Unrealized Gain on Investment account. This entry recognizes the unrealized gain related to the increase in the fair value of the portfolio.
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In creating DFDs, a context diagram OA Is not necessary. OB Includes multi transformation processes. ocIncludes only one major process. ODIs very detailed.
In creating DFDs, a context diagram Option C. includes only one major process.
A context diagram is a type of data flow diagram (DFD) that depicts the system's external entities, major processes, and data flows between them.
It depicts the scope of the system, defining its limits and boundaries, and is the highest level of DFD, which means it is at the top of the hierarchy, followed by other levels of DFD.
In creating DFDs, a context diagram includes only one major process.
The context diagram has only one process symbol that represents the entire system or the process being studied.
The process symbol can be simple or complex, but it should be general rather than detailed.
Context diagrams do not contain any transformation processes or any detailed information about them, as this would go into the lower levels of the DFD hierarchy.
They simply show how the system interacts with the external environment, indicating inputs and outputs to the system, and can be used to help analysts understand the system's basic structure and objectives.
A context diagram is a useful tool for communicating complex information in a simple way, and is often used in system analysis and design to help teams understand the scope and requirements of the system.
Therefore, the correct Option is C. Includes only one major process.
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Why are the interest rates of U.S. Treasury notes less than the interest rates of equivalent corporate bonds?
A) The U.S. government has a high credit spread.
B) There is significant risk that the U.S. government will default.
C) U.S. Treasury securities are widely regarded to be risk-free.
D) U.S. Treasury securities are generally used to determine interest rat
The interest rates of U.S. Treasury notes are less than the interest rates of analogous corporate bonds because U.S. Treasury securities are widely considered to be risk-free. Thus, option C is correct.
The interest rates in the U.S. Treasury notes are much lower when compared with corporate bonds. Because they are one of the safest investments in the world with good returns and the investors will show interest to invest in the bonds because of the low-risk factor.
Investors mainly focus on virtually risk-free bonds, so they choose U.S. Treasury securities, and also the demand is also too high for these Treasury securities. The major reason is they lower their interest rates.
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