The correct statement about the price elasticity of demand is: "Other things equal, if good X has close substitutes and good Y does not have close substitutes, then the demand for good X will be more elastic than the demand for good Y."
This remark illustrates the idea that the availability of replacements for a specific product influences price elasticity of demand. If a product has several close substitutes on the market, consumers have more options to choose from and are thus more sensitive to changes in the product's price. As a result, the product's demand will be more elastic.
In contrast, if a product lacks close substitutes on the market, buyers may have fewer options and may be ready to pay more for the goods, making demand for the product less elastic.
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business mergers interlocking directorates monopolistic practices
Business mergers refer to the consolidation of two or more companies to form a larger entity.
Mergers can create synergy and increase efficiency, but they can also lead to monopolistic practices if the resulting company gains a dominant market position. Interlocking directorates occur when the same person serves as a director on the boards of two or more competing companies. This can create conflicts of interest and reduce competition in the market, as the same person is essentially working for multiple competing companies. Monopolistic practices occur when a single company or a small group of companies dominates a market, allowing them to control prices, reduce competition, and limit consumer choice. These practices can include price fixing, exclusive dealing, and other anti-competitive behaviors. In some cases, interlocking directorates and business mergers can lead to monopolistic practices. For example, if two competing companies merge and a director from one of the companies also serves on the board of a competitor, this could lead to reduced competition in the market. Similarly, if a director sits on the boards of multiple companies in the same industry, they may share information that could lead to monopolistic practices. To prevent monopolistic practices, governments may use antitrust laws to regulate mergers and prevent interlocking directorates. These laws aim to promote competition and protect consumers by preventing companies from dominating markets and engaging in anti-competitive practices.
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when don meets with phil to discuss phil's output decline, in which management role will don be opating?
Top-level managers, middle managers, first-line managers, and team leaders are the four most typical categories of managers.
It's crucial for managers in mid-level jobs to have interpersonal skills, including the capacity to inspire others. Because they report to top-level managers and supervise the operations of first-line managers, these managers have a crucial function. All of the following, with the exception of: spokesman (D). Not every individual in a managerial or decision-making position speaks publicly about the organization's choices, which is the responsibility of a spokesman. The personnel "on the line" and in the closest touch with the employees are first-line managers, who are at the entry level of management. They are directly in charge of ensuring that the goals and strategies of the company are carried out successfully.
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analysis of a subject property's pro forma reveals that its seventh-year net operating income (noi) is projected to be $241,282 (you can assume that this cash flow occurs at the end of the year). if you estimate the projected rental growth rate for the property to be 3.5% per year and the going-out capitalization rate in year 7 to be 9%, determine the net sale proceeds the current owner of the property would receive if he were to sell the property at the end of year 7 and incur selling expenses that amounted to $108,300.
The current owner of the property would receive net sale proceeds of $2,572,722.22 if they were to sell the property at the end of year 7, after incurring selling expenses of $108,300.
As per the question given,
To determine the net sale proceeds, we need to first calculate the property's value at the end of year 7 using the going-out capitalization rate and the NOI in that year.
The formula to calculate the property's value at year 7 is:
Value = NOI in Year 7 / Going-Out Cap Rate
Value = $241,282 / 0.09
Value = $2,681,022.22
Next, we need to estimate the selling expenses, which are given as $108,300.
Finally, we can calculate the net sale proceeds by subtracting the selling expenses from the property's estimated value in year 7:
Net Sale Proceeds = Value at Year 7 - Selling Expenses
Net Sale Proceeds = $2,681,022.22 - $108,300
Net Sale Proceeds = $2,572,722.22
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what enables buyers of digital advertising inventory to manage multiple ad exchanges through one interface?
The demand-side platform is referred to as DSP. It enables the management of various ad exchanges by buyers of digital ad inventories through a single interface.
Why do we need inventory?
Demand-side platform is referred to as DSP. It enables buyers of digital ad inventories to control numerous ad exchanges from a single interface.
Inventory management assures you can complete incoming or open orders and increases profitability, which are its two key advantages. Management of inventories also Reduces Costs: Understanding stock trends helps you use your stock more effectively by enabling you to know how much and where you have it in stock.
For organisations, finding a balance between supply and demand is absolutely essential. Consequently, inventory management helps with better planning and ordering of stock products. Imagine that there is a high demand for a certain product but that there is not sufficient supply to meet that demand.
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you need a 35-year, fixed-rate mortgage to buy a new home for $310,000. your mortgage bank will lend you the money at an apr of 6.05 percent for this 420-month loan. however, you can only afford monthly payments of $1,500, so you offer to pay off any remaining loan balance at the end of the loan in the form of a single balloon payment. how large will this balloon payment have to be for you to keep your monthly payments at $1,500? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The balloon payment at the end of the loan would have to be $72,032.57 for the borrower to keep the monthly payments at $1,500.
To calculate the balloon payment, we first need to calculate the monthly payment on the loan using the given loan amount, loan term, and APR:
Loan amount = $310,000
Loan term = 35 years (420 months)
APR = 6.05%
Monthly interest rate = APR ÷ 12 = 0.0605 ÷ 12 = 0.005042
Monthly payment = P × (r × (1 + r)ⁿ) ÷ ((1 + r)ⁿ - 1)
where P = loan amount, r = monthly interest rate, and n = number of months
Substituting the given values, we get:
Monthly payment = 310000 × (0.005042 × (1 + 0.005042)⁴²⁰) / ((1 + 0.005042)⁴²⁰ - 1) = $1,778.09
This monthly payment is higher than the maximum monthly payment the borrower can afford, which is $1,500. Therefore, the borrower proposes to pay off the remaining loan balance in the form of a single balloon payment at the end of the loan.
Let B be the balloon payment at the end of the loan. Then the loan balance at the end of the 420th month would be:
Loan balance = P × (1 + r)ⁿ - (Monthly payment × (((1 + r)ⁿ - 1) ÷ r)) + B × (1 + r)ⁿ
where P = loan amount, r = monthly interest rate, n = number of months, Monthly payment = $1,500, and B = balloon payment
Substituting the given values, we get:
B = 310000 × (1 + 0.005042)⁴²⁰ - (1500 × (((1 + 0.005042)⁴²⁰ - 1) ÷ 0.005042)) + B × (1 + 0.005042)⁴²⁰
Solving for B, we get:
B = $72,032.57
Therefore, the balloon payment at the end of the loan would have to be $72,032.57 for the borrower to keep the monthly payments at $1,500.
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the firm: (a) has a principal-agent problem. (b) has a constant marginal resource cost of $5. (c) has a marginal resource cost that exceeds the wage rate for each worker. (d) will fail to maximize profits if it hires 5 workers.
Won't be able to maximizing profit if it employs 5 people.
What does "maximizing your profit" mean?The term "profit" identifies the optimum result during which your company is most lucrative. According to the non-profit educator Khan Academy. When a firm wants to generate profit, it will create the quantity where "marginal cost" and "marginal income" are equal.
Why is it important to increase profit?Businesses seek to maximize their earnings since doing so is not only beneficial but also necessary for survival. If you want to see your able to gain, this should be your main long-term aim as it is the "natural" state of any organization.
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what line item flows from the balance sheet to the statement of cash flows
The line item that flows from the balance sheet to the statement of cash flows is the "Change in Cash and Cash Equivalents" line item.
This line item reflects the change in the company's cash and cash equivalents from one period to another and is calculated by subtracting the cash and cash equivalents at the beginning of the period from the cash and cash equivalents at the end of the period.
This line item is important because it provides insight into the company's liquidity and ability to meet its short-term obligations. It is also an important component of the statement of cash flows, which provides information about the company's cash inflows and outflows during the period.
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Fixed costs remains unchanged in amount when the volume of activity varies from period to period within a relevant range.true or false?
Fixed costs remain unchanged in amount when the volume of activity varies from period to period within a relevant range. The given statement is True.
The fixed cost is independent of the production of goods and services. It does not vary with the production level of goods and services. Fixed cost is the fixed expenditure that does not change in respect of the volume of the units produced. It is a capital expenditure.
The fixed cost does not vary with the production, this is because the expenses are directly related to the cost of production of products. It is independent of production. Rent is the best example.
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somerset leasing received $38,400 for 12 months' rent in advance. how should somerset record this transaction?
Somerset should record this transaction as debit cash $38,400.
What is a transaction?A transaction is a fundamental concept in business and finance that refers to the exchange of goods, services, or money between two or more parties. In a transaction, each party has something of value that they wish to exchange with the other party. The exchange can be in the form of a sale, purchase, transfer, or agreement to do something in exchange for something else. Transactions are usually recorded and tracked to ensure accuracy and accountability. They can take many forms, such as cash transactions, credit card transactions, wire transfers, or electronic payments. In the world of finance, transactions are critical for keeping track of money flows and maintaining financial records. Accurate recording and tracking of transactions are essential for businesses, governments, and individuals to ensure financial transparency, compliance with regulations, and smooth financial operations.
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caleb, who owns a successful business with two locations and a few international clients, was approached by a large organization about dramatically expanding his company. caleb later told his wife that he is happy with his success, but he wants to stay small because if he decides to add new products, small companies
Caleb is happy with his success, but he wants to stay small because if he decides to add new products, small companies can move more quickly and start more readily.
What do you mean by products?
The thing that is being sold is called a product. An object or a service can both be considered products. It could appear in the form of anything physical, digital, or cybernetic. Every good has a price, and every good has costs attached to it. The price that can be paid is influenced by the market, the quality, the marketing, and the target market.
What does "product" signify in terms of commerce?
In business, a product is an item or service that you might offer to clients. These products could be material (like clothing or furniture) or immaterial (like computer software). A business is referred to as a product business if product sales account for the majority of its revenue.
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morgan jennings, a geography professor, invests $83,000 in a parcel of land that is expected to increase in value by 12 percent per year for the next eleven years. he will take the proceeds and provide himself with a 16-year annuity. assuming a 12 percent interest rate, how much will this annuity be? (do not round intermediate calculations. round your final answer to 2 decimal places.)
The annuity that Professor Jennings will receive for a 12 percent interest rate is $2,665.57 per year for 16 years.
To solve this problem, we can use the following steps:
Calculate the future value of the initial investment of $83,000 after 11 years at a 12% annual rate of return:
FV = PV x (1 + r)^n
FV = $83,000 x (1 + 0.12)^11
FV = $272,315.06
Calculate the present value of the 16-year annuity that Professor Jennings will receive, using the formula for the present value of an annuity:
PV = PMT x (1 - (1 + r)^-n) / r
where PMT is the annual payment, r is the interest rate per period (12%/12 = 1% per month), and n is the number of periods (16 x 12 = 192).
PV = PMT x (1 - (1 + 0.01)^-192) / 0.01
We can solve for PMT by setting the present value of the annuity equal to the future value of the initial investment:
PV = FV
PMT x (1 - (1 + 0.01)^-192) / 0.01 = $272,315.06
PMT = $272,315.06 x 0.01 / (1 - (1 + 0.01)^-192)
PMT = $2,665.57
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name two responsibilities of an event marketer working in hospitalit is?
The concept is Event marketing. It means experiential marketing of a brand, service or product through memorable experiences or promotional events.
A hospital events manager's responsibilities include:
coordinating travel plans for media and special guests,reserved hotel rooms to organize lunch and entertainment.Event Marketing is a strategy that includes live and/or virtual promotional events where the people interacts directly with the product or brand.
Their job includes:
Manages the entire event process, including the planning phase, the actual execution of the event and post-event evaluation. Manages operational and administrative functions to ensure the smooth running of the event. Ensures the event aligns with the company's overall marketing strategy and engages with the target audience.To know more about Event Marketer,
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t is november 1 of year 1. sales for earl company for november and december (of year 1) and january (of year 2) are forecasted to be as follows: november, 400,000; december, 500,000; january, 200,000 100% of sales are credit sales. of these credit sales, 10% are collected during the month of sale, 20% in the following month, and 65% in the second following month; 5% are never collected. total sales for september and october of year 1 were 100,000 and 150,000, respectively. what is the forecasted amount of total cash collections in january (of year 2)
The forecasted amount of total cash collections in January (of year 2) is $705,000.
For forecasted amount of total cash collections in January (of year 2), we need to first determine the credit sales for each month.
Credit sales for November (of year 1) = $400,000
Credit sales for December (of year 1) = $500,000
Credit sales for January (of year 2) = $200,000
We need to calculate the collections for each month.
Collections for November credit sales = 10% x $400,000 = $40,000
Collections for December credit sales:
10% collected in December = 10% x $500,000 = $50,000
20% collected in January = 20% x $500,000 = $100,000
65% collected in February = 65% x $500,000 = $325,000
5% never collected = 5% x $500,000 = $25,000
Total collections for December credit sales = $50,000 + $100,000 + $325,000 = $475,000
Collections for January credit sales:
10% collected in January = 10% x $200,000 = $20,000
20% collected in February = 20% x $200,000 = $40,000
65% collected in March = 65% x $200,000 = $130,000
5% never collected = 5% x $200,000 = $10,000
Total collections for January credit sales = $20,000 + $40,000 + $130,000 = $190,000
Finally, we can add up the total collections for January (of year 2):
Total collections in January (of year 2) = collections for November credit sales + collections for December credit sales + collections for January credit sales = $40,000 + $475,000 + $190,000 = $705,000
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Which situation has become more common as a result of globalization?
The situation that has become more common as a result of globalization is countries trading with partners all over the world. The correct option is option D.
What is Globalization?Globalization refers to the spread of the flow of financial products, goods, technology, information, and jobs across national borders and cultures. It is the the growing interdependence of the world's economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information. Cross-border connectivity or integration, free trade environment and interdependency of nations are the main characteristics of globalization.
There are three types of globalization and they are economic globalization, political globalization, cultural globalization.
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if job candidates must be able to lift 40 pounds to be allowed to advance to the next stage of the hiring process, lifting ability is what type of measure?
Lifting capacity is a physical test if job seekers must be able to lift 40 pounds in order to move on to the next stage of the hiring process. It evaluates a candidate's physical ability to carry out the duties of the position.
The criterion for lifting is a test of physical fitness, more particularly, a test of physical fitness for the profession. This kind of test determines whether a job applicant has the physical skills required to carry out the fundamental duties of the position securely and proficiently. Physically demanding occupations including manufacturing, construction, and warehouse work frequently require job-related physical ability tests. These procedures are used to make sure that candidates can fulfil the physical demands of the work without endangering themselves or others. The lifting capacity requirement in this situation assures that the job applicant can safely lift the weight necessary to carry out the essential duties of the position.
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supply is group of answer choices the amount of some good or service a producer is willing to supply at a single price. none of the above. the set of all combinations of price and quantity demanded. the amount of some good or service a producer is willing to supply at each price
Optin b & c: the amount of some good or service a producer is willing to supply at a single price and the amount of some good or service a producer is willing to supply at each/every price.
Supply is an economist term used to refer to the amount of a good or service that a producer is willing to spend at a particular price or price range.
Delivery is made in accordance with the shipping law regarding prices.
At a particular price, a manufacturer may be willing to offer a particular product or service. Alternatively, if different materials are involved, the manufacturer may be willing to quote a single price for all items listed.
Supply is a fundamental economic concept that describes the total amount of a particular good or service available to consumers. Supply can refer to the quantity available at a particular price or the quantity available across the price range displayed on the chart.
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Complete question:
Supply is
(A) the set of all combinations of price and quantity demanded.
(B) the amount of some good or service a producer is willing to supply at a single price.
(C) the amount of some good or service a producer is willing to supply at each price
d: none of the above.
managers at the tycho manufacturing are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and, eventually, a marketing plan. this process is called
Managers at the Tycho Corporation are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and, eventually, a marketing plan. This process is called strategic planning.
Strategic planning is the process through which an organization defines its strategy or direction and decides how to allocate its resources to achieve strategic goals. Additionally, it may include control systems for directing strategy execution. The objective of strategic planning is to establish general goals for your company and create a plan to attain them. It entails taking a step back from your day-to-day operations and asking yourself where your company is heading and what its priorities should be.
A business strategy, one of the most popular instances of strategic planning, is intended to improve income and brand recognition. There are several methods to capitalize on growth prospects, ranging from new goods and quality advancements to aggressive marketing and sales strategies.
Managers at the Tycho Corporation are engaged in a complex process of revising their organization's mission and goals and developing corporate strategy, marketing objectives, marketing strategy, and, eventually, a marketing plan. This process is called
a) marketing planning.b) strategic planning.c) marketing strategy.d) corporate strategy.e) strategic business planning.To learn more about Strategic planning, here
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The footwear industry in India is dominated by "B -relax Footwear". B- relax footwear
procures 70% of its raw material from " Polymers Ltd". The major production of Polymers
Ltd is plastic chips. PU foam and elastic which is used by B- relax Footwear in its
manufacturing processes. After due diligence they decided to merge with each other. If they
merge, B-relax Footwear donot need to look for a vendor and sourcing raw materials would
be easy. Whereas, if Polymers Ltd donot need to worry about sales and marketing. All they
need to do is to improve their processes to produce better raw materials for B-relax
footwear. After the merger the combined entity will be known as :B-relax Ine. (i) Identify and explain the type of merger between "B-relax footwear and
"Polymers ltd". (ii) Why is due diligence required before merger?
(iii) Which id the most dominant reason for this merger? Explain
The structure in which a firm's supply chain is integrated and owned by that company is referred to as vertical integration in microeconomics, management, and international political economy.
What is meant by Vertical Merger?A vertical merger combines two companies that are both in the same industry and at different phases of production.
To put it another way, a vertical merger is the joining and integrating of two or more companies engaged in the production of goods or services at multiple points along the supply chain.
A horizontal merger occurs when one business buys another that is in its immediate competitive range. Vertical mergers occur when one business buys another that is not directly competitive but participates in the same supply chain.
Therefore, A vertical merger is often used to describe the union of two companies that operate in different supply chain segments.
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Which of these questions should be answered by your company's mission statement? Multiple Choice - How will we express the company's distinctiveness. Its view of the world? - Will it be unchanging, as valid 100 years from now as it is today? - Does It reflect the uniqueness of the organization. Its distinctive competence, what it stands for, what it's able to achieve? - What are our major strengths and competitive advantages?
Option (d), What are our main competitive advantages and strengths? The mission statement of your organization should provide answers to these queries.
What benefits may a corporation expect from using a mission statement?The mission statement of a company may be useful. It starts with describing a company's goals and position in the market for its customers, competitors, and other stakeholders. Additionally, it supports keeping focus and direction so that the company may make the greatest choices for the future.
What benefits may a mission statement provide?Mission statements outline objectives and chart a course. Your organization's mission statement should be clear and operate as a compass. It acts as the foundation of your strategy and as a facilitator for a variety of operations, including hiring and marketing.
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a direct relationship in which two factors increase together or decrease together represents
Whether a relationship is positive (direct) or negative is shown by the sign of the correlation coefficient (inverse). Positively correlated variables grow and decrease simultaneously when there is a change in one of the other variables.
What is an increase in two elements that occurs directly?A relationship when two variables move simultaneously—that is, in the same direction—is said to have a positive correlation. If one variable increases as the other increases or if one variable drops while the other declines, there is a positive correlation.
Two things are said to be related when there is a relationship between them.
Statistically, the relationship between two variables can be measured and described using correlation.
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mackenzie company sold $680 of merchandise to a customer who used a regional bank credit card. regional bank charges a 4.0% fee for sales on its credit cards. the journal entry to record this sales transaction would be:
The journal entry to record this sales transaction would be: d. Debit Cash $652.8; debit Credit Card Expense $27.2 and credit Sales $680.
Journaling is the practice of keeping or producing records of all transactions, whether or not they are financial.
A company's debit and credit balances are shown in an accounting journal, along with a list of transactions. The journal entry may contain multiple entries, each of which is either a credit or a debit. For the journal entry to be deemed balanced, the total of the debits and credits must be equal.
Two examples of recurring items that can be noted in journal entries are depreciation and bond amortization. Accounts payable typically has its own subledger and indirectly affects the general ledger, while journal entries are typically entered using a different module in accounting software. Therefore, the general ledger account balances are directly impacted by journal entries.
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Note that the full question is:
MacKenzie Company sold $680 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 4.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment in approximately 5 days. The journal entry to record this sale transaction would be:
a. Debit Cash of $680 and credit Sales $680.
b. Debit Cash of $680 and credit Accounts Receivable Regional $680.
c. Debit Accounts Receivable Regional $652.8; debit Credit Card Expense $27.2 and credit Sales $680.
d. Debit Cash $652.8; debit Credit Card Expense $27.2 and credit Sales $680.
e. Debit Cash $652.8 and credit Sales $652.8
the two types of control procedures are preventive and representative
The statement is incorrect the two types of control procedures are preventive and detective.
A control procedure is what?Control procedures are actions a business does to maintain an effective accounting system. Control procedures are often described as a series of actions taken by a business to maintain the integrity of its accounting system.
What exactly are internal controls?Internal checks often consist of duty separation, authorization, documentation, reconciliation, and other control procedures. A corporation implements internal controls to guarantee the integrity of accounting and financial data, encourage accountability, and guard against fraud. By increasing accuracy, internal controls can aid in increasing operational efficiency.
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jervis sells $3,700 of its accounts receivable to northern bank in order to obtain necessary cash. northern bank charges a 2% factoring fee. what entry should jervis make to record the transaction?
The sale of accounts receivable is a common financing transaction known as factoring.
When Jervis sells $3,700 of its accounts receivable to Northern Bank, it will receive cash from the bank immediately but will have to pay a factoring fee of 2% to the bank for providing the financing. To record this transaction, Jervis should make the following entry:
Debit: Cash account for the amount received from Northern Bank, which is $3,700
Credit: Accounts Receivable account for the amount sold, which is $3,700
Credit: Factoring Fee Expense account for the fee charged by Northern Bank, which is $74 (2% of $3,700)
The entry above reflects the decrease in Jervis' accounts receivable due to the sale, the increase in cash received from the bank, and the recognition of the factoring fee expense.
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true or false: all of the accounts listed on an unadjusted trial balance are also listed on the balance sheet.
True, all of the accounts listed on an unadjusted trial balance are also listed on the balance sheet.
What accounts are on the unadjusted trial balance?
A general ledger's account list, or unadjusted trial balance, is a list of all the accounts. It is created at the conclusion of the time period (such as the month, quarter, or year) before any adjusting entries are made.
When examining account balances, it is typically used as a starting point.
What does a balance sheet explain?
An organization's assets and liabilities at a given point in time are described in detail in a balance sheet, which is a financial statement. One of the three essential financial statements—the other two being the income statement and cash flow statement—used to assess a company's performance is the balance sheet.
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jones company borrowed $20,000 on january 1st at 7% interest. interest expense for the month of january would be (to the nearest dollar):
Interest expense for the month of January would be (to the nearest dollar) $117.
calculate interest for one month take
$20,000 x 0.07 x (1 / 12 months) = $117.
In finance and economics, a hobby is a charge from a borrower or deposit-taking monetary organization to a lender or depositor of an amount above reimbursement of the fundamental sum (that is, the quantity borrowed), at a selected price. it's far awesome from a price that the borrower can also moreover pay the lender or a few 1/3 birthday celebrations.
it is also awesome from a dividend that's paid with the aid of an enterprise to its shareholders (owners) from its earnings or reserve, however no longer at a selected charge decided ahead, as a substitute on a pro-rata foundation as a share within the praise gained by means of chance taking entrepreneurs when the revenue earned exceeds the overall charges. for example, a consumer would generally pay hobby to borrow from a financial institution, in order that they pay the bank an amount that's extra than the amount they borrowed; or a consumer may also earn hobby on their financial savings, and so they may withdraw extra than they in the beginning deposit. In the case of monetary savings, the consumer is the lender, and the financial institution performs the location of the borrower.
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craftmore machining reports the following budgeted overhead cost and related data for this year. activity budgeted cost activity cost driver budgeted activity usage assembly $ 419,250 direct labor hours (dlh) 13,000 product design 64,500 engineering hours (eh) 1,290 electricity 21,500 machine hours (mh) 10,000 setup 53,750 setups 430 total $ 559,000 required: 1. compute a single plantwide overhead rate assuming the company allocates overhead cost based on 13,000 direct labor hours. 2. job 31 used 240 direct labor hours and job 42 used 520 direct labor hours. allocate overhead cost to each job using the single plantwide overhead rate from part 1. 3. compute an activity rate for each activity using activity-based costing. 4. allocate overhead costs to job 31 and job 42 using activity-based costing. activity cost driver activity usage job 31 job 42 direct labor hours (dlh) 240 520 engineering hours (eh) 29 35 machine hours (mh) 60 60 setups 5 7
Overhead cost refers to the indirect costs of production that cannot be easily traced to specific products or services. Examples of overhead costs include rent, utilities, insurance, depreciation, and salaries of support staff.
To compute a single plantwide overhead rate, we need to divide the total budgeted overhead cost by the budgeted activity usage of the cost driver, which is 13,000 direct labor hours:
Plantwide overhead rate = Total budgeted overhead cost / Budgeted activity usage of cost driverPlantwide overhead rate = $559,000 / 13,000 dlh
Plantwide overhead rate = $43 per direct labor hour
To allocate overhead cost to each job using the plantwide overhead rate, we multiply the number of direct labor hours used for each job by the plantwide overhead rate:Overhead cost for Job 31 = 240 dlh x $43 per dlh
Overhead cost for Job 31 = $10,320
Overhead cost for Job 42 = 520 dlh x $43 per dlh
Overhead cost for Job 42 = $22,360
To compute an activity rate for each activity using activity-based costing, we divide the budgeted overhead cost for each activity by its corresponding cost driver usage:Activity rate for Assembly = $419,250 / 13,000 dlh
Activity rate for Assembly = $32.25 per direct labor hour
Activity rate for Product Design = $64,500 / 1,290 eh
Activity rate for Product Design = $50 per engineering hour
Activity rate for Electricity = $21,500 / 10,000 mh
Activity rate for Electricity = $2.15 per machine hour
Activity rate for Setup = $53,750 / 430 setups
Activity rate for Setup = $125 per setup
To allocate overhead costs to Job 31 and Job 42 using activity-based costing, we multiply the activity rate for each activity by the actual usage of the cost driver for each job, and then sum the results:Overhead cost for Job 31 = (240 dlh x $32.25 per dlh) + (29 eh x $50 per eh) + (60 mh x $2.15 per mh) + (5 setups x $125 per setup)
Overhead cost for Job 31 = $8,367.50 + $1,450 + $129 + $625
Overhead cost for Job 31 = $10,571.50
Overhead cost for Job 42 = (520 dlh x $32.25 per dlh) + (35 eh x $50 per eh) + (60 mh x $2.15 per mh) + (7 setups x $125 per setup)
Overhead cost for Job 42 = $16,755 + $1,750 + $129 + $875
Overhead cost for Job 42 = $19,509
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distinguish between products tax and production tax
Answer:
Some examples of production taxes are land revenues, stamps and registration fees and tax on profession. Product taxes are paid on the actual volume of production. It is paid per unit of product. For example, excise duty, service tax, sales tax etc.
44.0% complete question all of the following are advantages of profit sharing plans to businesses and business owners except: a.allows discretionary contributions. b.must limit withdrawal flexibility. c.controls benefit costs. d.may provide legal discrimination in favor of older owner-employees.
A profit-sharing plan has the following benefits for companies and company owners, WITH THE EXCEPTION of permitting discretionary contributions.
What benefits do profit-sharing plans offer?Revenue investments are eligible for deduction up to 25% of the total remuneration paid to all employees during the taxable year since they are a qualified retirement plan. Profit-sharing contributions can thereby reduce a company's tax liabilities while raising employees' retirement savings, which is undoubtedly a win-win situation.
What are the benefits and drawbacks of profit-sharing?Tax deferrals and their potential use as performance incentives are two benefits of profit sharing schemes. The drawback of profit sharing schemes is that employer payments are optional and not required or guaranteed.
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concerning the labor market and taxes on labor, economists disagree about group of answer choices the size of the tax on labor. the size of the deadweight loss of the tax on labor. whether or not a tax on labor places a wedge between the wage that firms pay and the wage that workers receive. nothing.
Option a: the size of the deadweight loss of the tax on labor. Economists disagree about the extent to which taxing labor causes welfare losses in the labor market.
Experts disagree on whether taxing labor results in deadweight losses, as opinions diverge over the flexibility of labor supply. Some believe that the labor market is rigid, causing a small deadweight burden due to payroll taxes.
However, some argue that taxing labor would result in a significant loss of welfare, since the labor market is flexible and workers can change their working hours.
As taxes increase, dead loads increase disproportionately. However, increasing taxes may increase your income at first. But if taxes continue to rise, revenue will eventually fall.
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Complete question:
Concerning the labor market and taxes on labor, economists disagree about a. the size of the deadweight loss of the tax on labor. b. whether or not a tax on labor places a wedge between the wage that firms pay and the wage that workers receive. c. nothing.
jasper company accepted a check from harp company as payment for services rendered. jasper's bank statement revealed that the harp check was an nsf check. what effect will the entry to record the nsf check have on the accounting equation of jasper company?
There will be no effect on the total assets or the total equity and will not affect the entry to record the NSF check on the accounting equation of Jasper Company.
A check returned by a bank due to insufficient funds is known as an NSF check. As an illustration, a company may accept a check in payment of an outstanding balance on a customer account. The firm then sends the check to the bank for payment, but the bank does not honour the check and returns it because there are insufficient funds in the customer's checking account. A non-sufficient funds check (NSF check) may also be referred to as a bounced check, returned check, or an inadequate funds check.
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