Answer:
a
Explanation:
Unemployment rates that had been rising quickly have since slowed down. This economic indicator most strongly suggests that an economy is experiencing the trough phase of the business cycle. Hence, option A is appropriate.
What is the meaning of the Business Cycle?Business cycles are made up of coordinated cyclical upswings and downswings in output, employment, income, and sales, which are four broad indices of economic activity. In the business cycle, expansions and contractions alternate (recessions).
Economic activity goes through periods of boom and then contraction during business cycles. Two-quarters of negative GDP growth is occasionally used as the formal definition of a recession. The four stages of an economic cycle—also known as a business cycle—are expansion, peak, contraction, and trough.
The repeated economic shifts that occur in a nation over time are called business cycles. It can be recognized by changes in the GDP and other macroeconomic indicators. The business cycle has four phases: expansion, peak, contraction, and trough.
Hence, option A is correct.
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Green Landscaping Inc. is preparing its budget for the first quarter of 2017. The next step in the budgeting process is to prepare a cash receipts schedule and a cash payments schedule. To that end the following information has been collected.
Clients usually pay 60% of their fee in the month that service is performed, 30% the month after, and 10% the second month after receiving service. Actual service revenue for 2021 and expected service revenues for 2022 are November 2021, $80,000; December 2021, $90,000; January 2022, $100,000; February 2022, $120,000; and March 2022, $140,000.
Purchases of landscaping supplies (direct materials) are paid 60% in the month of purchase and 40% the following month. Actual purchases for 2021 and expected purchases for 2022 are December 2021, $14,000; January 2022, $12,000; February 2022, $15,000; and March 2022, $18,000.
Prepare the following schedules for each month in the first quarter of 2017 and for the quarter in total:
January February March Quarter
November
December
January
February
March
Total collections
Answer:
a-1. Total cash collection for the Quarter Ending March 31, 2022 = $336,000
a-2. Total cash payment for the Quarter Ending March 31, 2022 = $43,400
b-1. Account receivable balance = $68,000
b-2. Account payable balance = $7,200
Explanation:
Note: This question is not complete and contains different dates (2017 and 2022). The complete question is therefore provided and 2022 is picked as the date before answering the question. See the attached pdf file for the complete question with 2022 as the date.
The explanation of the answer is now given as follows:
a-1. Schedule of expected cash collections from clients.
Note: See part a-1 of the attached excel file for the Schedule of expected cash collections from clients.
From the attached excel file, we have:
Total cash collection for the Quarter Ending March 31, 2022 = $336,000
a-2. Schedule of expected payments for landscaping supplies.
Note: See part a-2 of the attached excel file for the Schedule of expected payments for landscaping supplies.
From the attached excel file, we have:
Total cash payment for the Quarter Ending March 31, 2022 = $43,400
b. Determine the following balances at March 31, 2022:
b-1. Accounts receivable
Account receivable balance = ($120,000*10%) + ($140,000*40%) = $68,000
b-2. Accounts payable
Account payable balance = $18,000*40% = $7,200
Weighted Average Method, FIFO Method, Physical Flow, Equivalent Units Heap Company manufactures a product that passes through two processes: Fabrication and Assembly. The following information was obtained for the Fabrication Department for September: All materials are added at the beginning of the process. Beginning work in process had 86,300 units, 30 percent complete with respect to conversion costs. Ending work in process had 19,300 units, 40 percent complete with respect to conversion costs. Started in process, 105,900 units. Required: 1. Prepare a physical flow schedule.
Answer:
Physical flow schedule
Inputs
Beginning Work in Process 86,300
Add Units Started 105,900
Total 192,200
Outputs
Units Completed and Transferred 172,900
Units in Ending Work in Process 19,300
Total 192,200
Explanation:
A physical flow schedule is simply a schedule of units introduced into the process and units outputs without expressing them to equivalent units.
Units Introduced must always be equal to units outputs in physicals terms.
Units Completed and Transferred = Beginning Inventory + Units Started - Units in Ending Work in Process
= 86,300 + 105,900 - 19,300
= 172,900
Pitney Co. purchased an office building, land, and furniture for $639,300 cash. The appraised value of the assets was as follows:
Land $136,043
Building 179,004
Furniture 400,969
Total $716,016
Required:
a. Compute the amount to be recorded on the books for each asset.
b. Show the purchase in a horizontal statements.
c. Prepare the general journal entry to record the purchase.
Solution :
a). Amount to be recorded on the books for each of the assets.
Working Allocated cost($)
Land (639,300 / 716,016 )x 136,043 121467
Building (639,300 / 716,016 )x 179,004 159825
Furniture (639,300 / 716,016 )x 400,969 358008
Total 639,300
b). Statement model
Assets : Cash + Land + Building + Furniture
639,300 + 121,467 + 159825 + 358008
Cash flow = 639,300
c). Journal entry
General journal Debit($) Credit($)
Land 121,467
Building 159,825
Furniture 358,008
Cash 639,300
two ways in which best bank can adapt to the challenges of the macro environment
Answer:
Mergers or Information Management
Explanation:
Mergers-In order to respond to certain challenges, businesses may choose to merge with another business. The new business will have a larger market share than either of the original businesses did.
Information management -All changes lead to new information that needs to be distributed to all the relevant parties.
Information must be managed efficiently and a system must be in place so that the relevant staff can easily access it.
Information must be protected and kept secure to protect the company's intellectual property.
If Sandy doesn't find a job soon she will need to borrow money from someone to pay her bills
Answer:
same but I dont have bills because I'm still young and have a chance
An employee earns $28 per hour and 1.5 times that rate for all hours in excess of 40 hours per week. Assume that the employee worked 46 hours during the week. Assume that the FICA tax rate is 7.5% and that federal income tax of $200 was withheld. a. Determine the gross pay for the week. $fill in the blank 1 b. Determine the net pay for the week. Round intermediate calculations and your final answer to the nearest cent. $fill in the blank 2
Answer and Explanation:
a. The computation of the gross pay for the week is shown below
Regular pay ($28 ×40 hours) $1,120
Overtime pay (6 hours × $28 × 1.5) $252
Total gross pay $1,372
b. The computation of the net pay for the week is given below:
Gross pay $1,372
Less:
FICA ($1,372 × 7.5%) $103
Federal income tax $200
Net pay $1069.10
Your bank card has an APR of 21% and there is a 3% fee for cash advances. The bank starts charging interest on cash advances immediately. You get a cash advance of $500 on the first day of the month. You get your credit card bill at the end of the month. What is the approximate total finance charge you will pay on this cash advance for the month
Answer:
Total finance charge=$23.75
Explanation:
The amount charged for the use of the fund by a bank is called interest rate. Here it is quoted as 21% per annum but we will need to determine the approximate monthly rate by dividing by 12.
The total finance charge will be equal = Interest rate + advance fee
Monthly interest rate = 21/12 =1.75%
Interest payment = 1.75%× $500=$8.75
Advance fee = 3%× $500= $15
Total finance charge = $8.75 + $15= $23.75
Total finance charge=$23.75
Core Corporation reported current earnings and profits of $250,000. Core distributed a building with an adjusted basis of $170,000 and a fair market value of $230,000 to its sole shareholder. The building had a mortgage of $90,000, which the shareholder will assume. What is the amount of the dividend received by the shareholder?
A. $80,000.
B. $140,000.
C. $230,000.
D. $250,000.
Answer:
B. $140,000
Explanation:
The total cost of acquiring an asset, including the installation, commission, transportation and other relevant fees is known as adjusted basis. The fair market value is the value an asset would yield when sold. It is an amount that would be received in return when an asset is sold.
Therefore, the shareholders would receive dividend at the fair market value adjusted for the mortgage balance
= $230,000 - $90,000
= $140,000
You may file a complaint with OSHA if you believe a violation of any of the following situations exist in your workplace.
Safe conditions
Job Hazard Analysis
Imminent Danger
• No Hazards
Answer: Imminent Danger
Explanation:
A complaint with OSHA can be filed with the existence of the following workplace situation C. Imminent Danger.
What is OSHA?OSHA stands for the federal government's regulatory agency known as the Occupational Safety and Health Administration. OSHA is one of the agencies of the United States Department of Labor. It has powers to inspect, examine workplaces, and impose sanctions.
Thus, employees can file complaints with OSHA when there is an imminent danger, but they do not need to do so where safe conditions, job hazard analysis, and no hazards exist.
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difference between real flows and monetary flows
Which of the following is/are true about kanban? A. The purpose of the kanban system is to ensure that parts are produced JIT to support subsequent processes. B. Some companies control the movement of the containers by using two types of kanban cards, production cards and withdrawal cards. C. Kanban cards take the place of shop paperwork used in traditional repetitive mass production. D. a and b are true
Answer:
c
Explanation:
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You manage a cable company that offers 2 channels - NBC and Fox. You face 2 types of customers (type A and type B) and there are 100 customers of each type. Their respective values for each channel are:
Type A Type B
NBC $10 $15
Fox $3 $7
Suppose that you sell each channel separately. You should set a price of $__________ for NBC and a price of $_________ for Fox.
Answer:
You should set a price of $___15_____ for NBC and a price of $___7___ for Fox.
Explanation:
a) Data and Calculations:
Customer Type A Type B Maximum Price
NBC $10 $15 $15
Fox $3 $7 $7
Combined value $13 $22
b) The cost of each channel would have enabled a better decision outcome to be reached. However, it is better to set the maximum prices since individual values can change based on the forces of demand and supply.
Amber Company had $153,200 of net income in 2016 when the selling price per unit was $153, the variable costs per unit were $93, and the fixed costs were $574,100. Management expects per unit data and total fixed costs to remain the same in 2017. The president of Naylor Company is under pressure from stockholders to increase net income by $62,200 in 2017.
a) Compute the number of units sold in 2016.
b) Compute the number of units that would have to be sold in 2017 to reach the stockholders' desired profit level.
c) Assume that naylor company sells the same number of units in 2017 as it did in 2016. What would the selling price have to be in order to reacch the stockholders' desired profit level?
Answer and Explanation:
The computation is shown below:
1) Number of unit sold in 2016 is
As we know that
Total contribution margin is
= Fixed cost + Net income
= $153,200 + $574,100
= $727,300
And, the Contribution margin per unit is
= $153 - $93
= 60 per unit
So, the Number of unit sold in 2016 is
= $727,300 ÷ 60
= 12,122 Units
2) Number of unit sold is
= ($574,100 + $153,200 + $62,200) ÷ 60
= 13,158 Units
3) The selling price is
Break even = (Fixed cost + Desired profit) ÷ Contribution margin
12,122 = ($574,100 + $153,200 + $622,00) ÷ (X - $93)
12,122X - $1,127,346 = $789,500
12,122X = $1,916,846
X(Selling price) = $1,916,846 ÷ 12122
= $158 per unit
Performance management includes standards for measuring how well
individual performance supports the company's goals, practices for
measuring performance against those standards, and .
O A. procedures for giving feedback to employees
0 B. preparation for moving into managementjobs
O C. hands-on learning methods
0 D. presentations by a trainer
the answers A, procedures for give feedback to employees.
Performance management includes standards for measuring how well individual performance supports the company's goals, practices for measuring performance against those standards, and procedures for giving feedback to employees.
What is an employee?
A worker or manager who works for a business, group, or community is referred to as an employee. The organization's personnel consists of these people. There are various types of employees, but in general, any individual engaged by an employer to do a specific task in exchange for remuneration is considered an employee.
An employee benefit plan known as a pension is one that offers retirement income or postpones income until the end of covered employment or beyond. It may be developed or managed by an employer, an employee group (such as a union), or both.
The process of ensuring that a set of actions and outputs achieves the objectives of an organization effectively and efficiently is known as performance management. Performance management can be used to evaluate an employee, a department, a whole business, or the systems in place to handle certain tasks.
Therefore, Thus option (A) is correct
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g You are looking for a dividend security to provide yourself with additional steady income. You have found a company with an expected dividend next year of $1.20. You have done an analysis on the company's past dividends and the dividend amount has increased at a constant rate of 3.4 percent for the last eight years and you have no expectation of a change in growth rate. If you require a 9 percent rate of return on your investments, what should you be willing to pay today for the stock
Answer: See explanation
Explanation:
The following information can be gotten from the question:
Expected dividend, D1 = $1.20
Required rate of return, r = 9%
Growth rate = 3.4%
Then, the formula to get the price will be:
= D1/(r-g)
= 1.2/(9%-3.4%)
= 1.2/5.6%
= $21.4
The amount to pay due the stock is less than $24.00
The difference between accrual-basis accounting and cash-basis accounting is timing. Under accrual-basis accounting, we record revenues when we provide goods and services to customers, and we record expenses when costs are used in company operations.
a. True
b. False
Answer:
A. True
Explanation:
The main difference between accrual and cash basis accounting lies in the timing of when revenue and expenses are recognized. The cash method is a more immediate recognition of revenue and expenses, while the accrual method focuses on anticipated revenue and expenses.
The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow:
Fees earned $975,760
Office expense 224,425
Miscellaneous expense 19,515
Wages expense 468,365
Accounts payable 24,395
Accounts receivable 68,300
Cash 256,740
Common stock 135,000
Land 312,000
Supplies 11,710
Cash dividends of $37,100 were paid during the year. Retained earnings as of June 1, 20Y5, were $263,000.
Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.
Answer:
Paradise Travel Service
Balance Sheet as at May 31, 20Y6.
ASSETS
Non - Current Assets
Land 312,000
Total Non - Current Assets 312000
Current Assets
Supplies 11,710
Accounts receivable 68,300
Cash 256,740
Total Current Assets 336750
TOTAL ASSETS
EQUITY AND LIABILITIES
EQUITY
TOTAL EQUITY
LIABILITIES
Non - Current Liabilities
Total Non - Current Liabilities
Current Liabilities
Accounts payable 24,395
Total Current Liabilities
TOTAL LIABILITIES
EQUITY
Common stock 135,000
Retained Earnings 468,365
TOTAL EQUITY 603365
TOTAL EQUITY AND LIABILITIES
Explanation:
Profit = Sales - Expenses
= $975,760 - (224,425 + 19,515 + 468,365)
= $263,455
Retained Earnings Calculation
Opening Balance $263,000
Add Profit for the Year $263,455
Less Dividends ($37,100)
Ending Balance $489,355
Answer each questions.
1. Do internet search enhance our knowledge in animal/fish raising?
2. Search in the internet a picture that demonstrates a skill in harvesting/capturing animal/fish?. Paste the picture below.
Answer:
1. Yes.
2. The answer is in the attached picture
Explanation:
Yes, it is TRUE that internet searches enhance our knowledge in animal/fish raising. Due to the latest technology in gathering information through the web searches such as góóglé, people can easily find knowledge about the cultivating and harvest of animal or fish farming.
This is proven by easily getting a picture that depicts the skills in harvesting a fish in a pond or river
Delta Importers has a pure discount loan with a face value of $180,000 due in one year. The assets of the firm are currently worth $265,000. The shareholders in this firm basically own a _____ option on the assets of the firm with a strike price of _____. Group of answer choices Put; $180,000 Put; $265,000 Warrant; $265,000 Call; $180,000 Call; $265,000
Answer: Call; $180,000
Explanation:
A Call option gives the holder the right to buy an asset if they want to at a certain set price.
In this scenario the shareholders of this firm can buy the assets of this company in order to pay off the debt of $180,000 which in essence makes $180,000 the strike price thereby making this a call option.
g Pix Company has the following production data for March: no beginning work in process, units started and completed 29,000, and ending work in process 3,300 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $7 and unit conversion cost is $10. The total costs to be assigned are $529,300, prepare the cost section of the production cost report for Pix Company using the FIFO approach.
Answer:
Pix Company
Production cost report - extract
Outputs
Units Costs
Costs assigned to completed units 29,000 $493,000
Units Still in Process 3,330 $36,630
Total 32,330 $529,630
Explanation:
Step 1 : Equivalent Units of Production
Materials
To Finish Work in Process 0
Started and Completed (29,000 x 100%) 29,000
Ending Work in Process (3,330 x 100%) 3,330
Equivalent units of Production in Materials 32,330
Conversion Costs
To Finish Work in Process 0
Started and Completed (29,000 x 100%) 29,000
Ending Work in Process (3,330 x 100%) 1,332
Equivalent units of Production in Materials 30,332
Step 2 : Costs assigned to completed units and units still in process
Costs assigned to completed units = Units Completed x total units cost
= 29,000 x $17
= $493,000
Units Still in Process = Materials Cost + Conversion Costs
= 3,330 x $7 + 1,332 x $10
= $36,630
On the first day of its fiscal year, Chin Company issued $10,000,000 of five-year, 7% bonds to finance its operations of producing and selling home improvement products. Interest is payable semiannually. The bonds were issued at a market (effective) interest rate of 8%, resulting in Chin Company receiving cash of $9,594,415.
a. Journalize the entries to record the following:
1. Issuance of the bonds.
2. First semiannual interest payment. The bond discount amortization is combined with the semiannual interest payment. (Round your answer to the nearest dollar.)
3. Second semiannual interest payment. The bond discount amortization is combined with the semiannual interest payment. (Round your answer to the nearest dollar.)
Bonds Payable is always recorded at face value. Any difference in issue price is reflected in a premium or discount account. The straight-line method of amortization provides equal amounts of amortization over the life of the bond.
b. Determine the amount of the bond interest expense for the first year.
$
c. Why was the company able to issue the bonds for only $9,594,415 rather than for the face amount of $10,000,000.?
Answer:
Chin Company
Journal Entries
1. Issuance of the bonds:
Debit Cash $9,594,415
Debit Bond Discounts $405,585
Credit Bonds Liability $10,000,000
To record the issuance of the bonds at a discount.
2. June 30:
Debit Bond Interest Expense $383,777
Credit Cash $350,000
Credit Amortization of Bond Discount $33,777
To record the first interest payment and amortization of bond discount.
3. December 31:
Debit Bond Interest Expense $385,128
Credit Cash $350,000
Credit Amortization of Bond Discount $35,128
To record the second interest payment and amortization of bond discount.
b. The amount of the bond interest expense for the first year:
June 30: Bonds' Interest expense = $383,777
Dec. 31: Bonds' Interest expense = $385,128
Total bond interest expense for the first year = $768,905
c. Chin Company was able to issue the bonds for only $9,594,415 rather than for the face amount of $10,000,000 because the bonds were issued at a discount and not face value. Bonds can be issued at face value, discount, or premium, depending on the prevailing investor's sentiments and the attractiveness of the bonds to investors.
Explanation:
a) Data and Calculations
Face value of bonds = $10 million
Discounted value (Cash receipt) = $9,594,415
Total amount of discount = $405,585
Bond's interest rate = 7%
Market yield = 8%
Bond maturity period = 5 years
Payment period = semiannually
Issuance of the bonds:
Cash $9,594,415 Bond Discounts $405,585 Bonds Liability $10,000,000
June 30:
Cash payment for interest = $350,000 ($10,000,000 * 3.5%)
Bonds' Interest expense = $383,777 ($9,594,415 * 4%)
Amortization of bond discount = $33,777 ($383,777 - $350,000)
Bond book value = $9,628,192 ($9,594,415 + $33,777)
December 31:
Cash payment for interest = $350,000 ($10,000,000 * 3.5%)
Bonds' Interest expense = $385,128 ($9,628,192 * 4%)
Amortization of bond discount = $35,128 ( $385,128 - $350,000)
Bond book value = $9,663,410 ($9,628,192 + $35,218)
Before expiration, the time value of a call option is equal to Group of answer choices zero. the actual call price minus the intrinsic value of the call. the intrinsic value of the call. the actual call price plus the intrinsic value of the call.
Answer: the actual call price minus the intrinsic value of the call.
Explanation:
The actual price of a call is calculated as the sum of the intrinsic value of the call and the time value of the call option in the manner:
Price of call = Intrinsic value of call + Time value of call
The Time value of the call is therefore:
Change subject of below formula:
Price of call = Intrinsic value of call + Time value of call
Time value of call = Price of call - Intrinsic value of call
Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows:
Direct materials: 5 pounds at $8.00 per pound $40.00
Direct labor: 2 hours at $14 per hour 28.00
Variable overhead: 2 hours at $5 per hour 10.00
Total standard cost per unit $78.00
The planning budget for March was based on producing and selling 25,000 units. However, during March the company actually produced and sold 30,000 units and incurred the following costs:
a. Purchased 160,000 pounds of raw materials at a cost of $7.50 per pound. All of this material was used in production.
b. Direct laborers worked 55,000 hours at a rate of $15.00 per hour.
c. Total variable manufacturing overhead for the month was $280,500.
Required:
a. What raw materials cost would be included in the company's planning budget for March?
b. What raw materials cost would be included in the company's flexible budget for March?
c. What is the materials price variance for March?
Answer:
Results are below.
Explanation:
Giving the following information:
Direct materials: 5 pounds at $8.00 per pound $40.00
The planning budget for March was based on producing and selling 25,000 units.
a)
The material cost included in the planning budget is the standard cost multiplied for the budgeted production.
Direct material requiered= 25,000*5= 100,000 pounds
Standard cost per pound= $5
Direct material budget= 100,000*5= $500,000
b)
The raw material's flexible budget adapts to the actual production level.
Direct material flexible budget= standard cost*actual material used in production
Direct material flexible budget= 5*160,000
Direct material flexible budget= $800,000
c)
To calculate the direct material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (5 - 7.5)*160,000
Direct material price variance= $400,000 unfavorable
Last year Rennie Industries had sales of $270,000, assets of $175,000 (which equals total invested capital), a profit margin of 5.3%, and an equity multiplier of 1.2. The CFO believes that the company could reduce its assets by $51,000 without affecting either sales or costs. The firm finances using only debt and common equity. Had it reduced its assets by this amount, and had the debt/total invested capital ratio, sales, and costs remained constant, how much would the ROE have changed? Do not round your intermediate calculations. a. 3.03% b. 3.07% c. 4.04% d. 4.52% e. 4.08%
Answer:
c. 4.04%
Explanation:
Calculation to determine how much would the ROE have changed
First step is to Calculate last year Last year profit
Last year profit = $270,000 × 5.3%
Last year profit = $14,310.00
Second step is to calculate Last year equity
$175,000/Last year equity = 1.2
Last year equity = $175,000/1.2
Last year equity= $145,833.33
Third step is to calculate Last year ROE
Last year ROE = $14,310.00/$145,833.33
Last year ROE= 0.0981*100
Last year ROE= 9.81%
Fourth step is to Calculate New asset value
New asset value = $175,000 - $51,000
New asset value = $124,000
Fifth step is to calculate Equity after asset reduction
Equity after asset reduction = $124,000/1.2
Equity after asset reduction = $103,333.33
Sixth step is to calculate ROE after asset reduction
ROE after asset reduction = $14,310.00/$103,333.33
ROE after asset reduction =0.1385*100
ROE after asset reduction =13.85%
Now let calculate amount of change in ROE
Using this formula
Change in ROE = ROE after asset reduction - Last year ROE
Let plug in the formula
Change in ROE = 13.85% - 9.81%
Change in ROE = 4.04%
Therefore how much would the ROE have changed is 4.04%
Partnership business examples
Answer:
GoPro & Red Bull.
Pottery Barn & Sherwin-Williams.
Casper & West Elm.
Kanye and Adidas.
BMW & Louis Vuitton.
Starbucks & Spotify.
Apple & MasterCard.
A process with no beginning work in process, completed and transferred out 84300 units during a period and had 50300 units in the ending work in process inventory that were 20% complete. The equivalent units of production for the period for conversion costs were:
Answer:
$94,360
Explanation:
Calculation to determine what The equivalent units of production for the period for conversion costs were
Equivalent units of production=[$84,300+ ($50,300 * 20% ]
Equivalent units of production=$84,300+$10,060
Equivalent units of production=$94,360
Therefore The equivalent units of production for the period for conversion costs were $94,360
1.What is Barbara's net monthly income?
2.How much are Barbara’s regular monthly expenses?
3.How much does Barbara have left over after she pays her regular monthly expenses?
4.What are Barbara’s short term goals?
5.What is her long term (longer than 1 year) goal?
6.If the party Barbara is giving will cost $135, how much money will she have left over this month?
7.How much would Barbara have left over this month is she paid her regular expenses, saved for Christmas, and had a party for Sara?
8.How much do you think Barbara would need to put into savings every month to reach her long term goal?
Answer:
1. 389.60
2. 160 a month
3. 229.60
4. Party clothes, Saving for Christmas, and MP3 Repair
5. College
6. 94.60
1. True or false. The first word of your answer has to be either true or false. If the first word of your answer is not true or false, you receive 0 points. If the statement is true you are finished answering. If your answer is false, briefly explain why it is false. a. "If leisure is a normal good, a rise in the wage rate must lead to an increase in the number of hours that an individual wishes to work." b. "A good is inferior only if quantity demanded falls as price falls." c. " If the income effect is greater than the substitution effect and leisure is an inferior good, the labor supply curve will be negatively sloped."
Answer:
a. FALSE, since leisure is a normal good, an increase in the wage rate will result in both substitution and income effect which will decrease the number of hours worked and increase the leisure hours.
b. TRUE
c. FALSE, if leisure is an inferior good, as rise in wages will result in more working hours and les leisure hours, meaning that the labor supply has a positive slope.
Consider a series of end-of-period CFs spanning 2040-2050, which increase by a fixed amount each period. The amount of the first CF in the series is $149 and the increment is $76. The nominal interest rate is 1.3%; compounding occurs 5 times per year. What is the equivalent value of this series at the beginning of 2040
Answer:
The equivalent value of the series=$ 10,536.61
Explanation:
An annuity is a series of equal payment or receipt occurring for certain number of period.
The series of cash flows of $149 and the increase $76 occurring for 10 years are example of ordinary annuity.
So we can workout their present value using the formula stated below:
This is done as follows:
The Present Value of annuity = A × (1- (1+r)^(-n))/r
Present value of series of fixed amount cashflow
A- periodic cash flow-149, r- semi annual rate of interest - 1.3/5= 0.26%
n- number of period- (10×5) = 50.
Present value = 149× (1-1.0026^(-50)/0.0026=6,977.57
Present value of the increment series of cashflow
A- periodic cash flow-76, r- semi annual rate of interest - 1.3/5= 0.26%
n- number of period- (10×5) = 50.
Present value = 76× (1-1.0026^(-50)/0.0026=3,559.03
The equivalent value of the series = Present value of the fixed amount + present value of the increment= 6,977.57 + 3,559.03= 10536.61
The equivalent value of the series=$ 10,536.61
Pix Company has the following production data for March: no beginning work in process, units started and completed 25,500, and ending work in process 4,400 units that are 100% complete for materials and 40% complete for conversion costs. Pix uses the FIFO method to compute equivalent units. If unit materials cost is $5 and unit conversion cost is $12, determine the costs to be assigned to the units transferred out and the units in ending work in process. The total costs to be assigned are $476,620.
Answer:
Ending Work In Process Cost = $43,120
Units Transferred out Cost = $433,500
Explanation:
Step 1 : Equivalent units calculation
Materials
Ending Work in Process = 4,400 x 100% = 4,400 units
Conversion
Ending Work in Process = 4,400 x 40% = 1,760 units
Step 2 : Total Costs assigned to Ending Work In Process
Ending Work In Process Cost = Materials + Conversion Costs
= 4,400 x $5 + 1,760 x $12
= $43,120
Step 3 : Total Cost of Units Transferred out
Units Transferred out = Total Unit Cost x Units transferred
= $17.00 x 25,500
= $433,500