Answer: $46666.67
Explanation:
From the question, we are informed that Henri earned a salary of $50,000 in 2001 and $70,000 in 2006 and that the consumer price index was 177 in 2001 and 265.5 in 2006.
For us to calculate Henri's 2006 salary in 2001 dollars, we have to multiply Henri's 2001 real salary by the price in 2001. This will be:
= (70000/265.5) × 177
= $46666.67
Seal Polymer Industries sold two freight containers of latex gloves to Med-Express, Inc., a com- pany based in North Carolina. When Med-Express failed to pay the $104,000 owed for the gloves, Seal Polymer sued in an Illinois court and obtained a judgment against Med-Express. Med-Express argued that it did not have minimum contacts with Illinois and therefore the Illinois judgment based on per- sonal jurisdiction was invalid. Med-Express stated that it was incorporated under North Carolina law, had its principal place of business in North Carolina, and therefore had no minimum contacts with Illinois.
Required:
Was this statement alone sufficient to prevent the Illinois judgment from being collected against Med-Express in North Carolina?
Answer:
Seal Polymer Industries (SPI) can sue Med-Express in an Illinois court due to the minimum contacts doctrine. This is an actual court case that the North Carolina Court of Appeals ruled in favor of SPI. The minimum contacts rule states that in order for a business to be sued in another jurisdiction it must have maintained minimum contacts with residents of that state. Minimum contacts may include making business with individuals or companies that reside in the other state, visiting the other state or incorporating in the other state. In this case, Med-Express made business with SPI, and SPI is a resident of Illinois.
A loan is being amortized by means of level monthly payments at an annual effective interest rate of 8%. The amount of principal repaid in the 12th payment is 1,000 and the amount of principal repaid in the t^th payment is 3700.a) 198b) 204c) 210d) 216e) 228
Answer:
d) 216
Explanation:
We need to equate the value of 12th payment and t^th payment through the below formula.
=> 1000*(1+8%)^[(t-12)/12] =3700
=> (1.08)^[(t-12)/12] =3.7
=> [(t-12)/12] =17
=> t=216
Abbey Co. sold merchandise to Gomez Co. on account, $35,000, terms 2/15, net 45. The cost of the merchandise sold was $24,500. Abbey Co. issued a credit memo for $3,600 for merchandise returned that originally cost $1,700. Gomez Co. paid the invoice within the discount period. What is the amount of gross profit earned by Abbey Co. on the above transactions?
A- $10,500
B- $30,772
C- $7,972
D- $ 31,400
Answer:
Gross profit earned = $7,972
Explanation:
Net sales = $35,000 - 3,600
Net sales = $31,400
Merchandise cost = $24,500 - 1,700
Merchandise cost = 22,800
Discount allowed = [$31,400]2%
Discount allowed = 628
Gross profit earned = $31,400 - $22,800 - $628
Gross profit earned = $7,972
Please write at least 400 word reply.
British grocery retailer Tesco isnât accustomed to failure, but after spending five years and about $1.61 billion, Tesco managers began preparing to sell or close the companyâs 199 Fresh & Easy markets and get out of the United States for good. Fresh & Easy was a novel format for Americansâstores that were larger than convenience stores but smaller than supermarkets and that focused on selling fresh foods. As it turned out, Americans found the format neither fresh nor easy. Managers imported British favorites instead of adapting to American tastes, and each store carried the same selection of prepackaged meals and other products, no matter its location. There was no deli section where food could be made to order. Prepackaged sandwiches are commonplace to the British, but to American shoppers they seemed like something from a vending machine. The timing didnât help either. Fresh & Easy opened in the United States just before the recession devastated many of the areas in California, Arizona, and Nevada where it located its earliest stores. The chain never turned a profit.
Case Question
Based on this caselet and the concepts learned in this topic, which kind of international strategy do you think Tesco was applying in America? Tesco has now decided to open its stores in India. As a manager at Tesco, how will you do things differently this time to save the company from being a failure in India?
Answer:
1. Tesco was applying a standardization strategy in America. It treated the US domestic market as if it were the same as the British domestic market. It failed to recognize that American shoppers' tastes are different. Again, it preferred to deal with prepackaged food, an offering that is not very agreeable to the American shoppers. It also failed to domesticate the sources of its supply of grocery, preferring to import from Britain. Tesco should have purchased the grocery from the local market to make them fresh and agreeable to the local taste.
2. I will advise that the stores that are opened in India should not be patterned on the failed American strategy. Tesco should deploy a multidomestic international strategy by customizing its products, stores, and processes to the Indian market. The aim is to meet the taste of Indian shoppers. Tesco must understand that Indians prefer cooking their meals.As a result, the company must not delve into prepackaged food, but concentrate on selling Indian grocery and spices.
Explanation:
Companies employ a standardization strategy by treating the whole world as one market with little meaningful variation with the assumption of meeting people’s needs with one product. This strategy is best for some standardized products like equipment. Here, there is high global integration of markets with low local responsiveness.
On the other hand, multidomestic strategy is employed by companies to customize products or processes to the specific conditions in each country and to meet local customer tastes. For grocery shops that require the products to be fresh, a multidomestic strategy would be preferred. This strategy employs high local responsiveness with high global integration.
On December 28, 2021, Tristar Communications sold 17 units of its new satellite uplink system to various customers for $25,000 each. The terms of each sale were 2/10, n/30. Tristar uses the gross method to account for sales discounts.In what year will income before tax be affected by discounts, assuming that all customers paid the net-of-discount amount on January 6, 2022. By how much in 2022ï¼ income before tax will be reduced byï¼
Answer:
Since the company records its transactions using hte gross method, any discounts will affect 2022 earnings. The journal entries to record these sales are:
December 28, 2021, 17 units sold
Dr Accounts receivable 425,000
Cr Sales revenue 425,000
January 6, 2022, invoices collected
Dr Cash 416,500
Dr Sales discounts 8,500
Cr Accounts receivable 425,000
If your company matches 75 cents on the dollar,and you contribute $200 a paycheck, how much will your employee match?
Please answer ASAP
Barney bought a small retail business a month ago. He plans to advertise it with the help of billboards and flyers to attract customers. Which type of expense would Barney’s business incur in the form of advertising?
A. Non operating expense
B. Selling expense
C. Administration expense
D. Logistic expense
E. Production expense
Answer:
The answer is B.Selling expense
One year ago, you purchased 162 shares of Best Wings stock at a price of $39.44 per share. The company pays an annual dividend of $0.79 per share. Today, you sold for the shares for $38.03 a share. What is your total percentage return on this investment?
Answer:
the total percentage return on this investment is -1.57%
Explanation:
The computation of the total percentage return on this investment is shown below:
The total return Per Share is
= [(Price at End - Price at Beginning) + Dividend ]
= [($38.03 - $39.44) + $0.79]
= -0.62
Now the total percentage return on this investment is
= Total return per share ÷ initial investment × 100
= -$0.62 / $39.44 × 100
=-1.57%
Hence, the total percentage return on this investment is -1.57%
What are some actions that may be taken by a nation to reduce interest rates in a country?
Answer:
The solution to this question can be defined as follows:
Explanation:
Its federal reserve of a nation will undertake several measures mostly on a bid to avoid the interest rate in the world. Using an exchange rate process, they increase the supply of money, lessen the number of discounts or even the money supply. Each of these steps raises the availability of resources as well as the rate of interest on the economy drops with a primary component of capital.
Why is it important to choose a bank that is a member of the FDIC? a. The FDIC is the regulatory body that licenses banks, so a non-FDIC bank is illegal. b. The FDIC is a union that prevents banks from taking advantage of customers, so you will receive better service with an FDIC bank. c. The FDIC is a government bureau that insures the money that customers deposit in the bank, so your money is safer in an FDIC bank. d. Only FDIC banks are legally allowed to issue loans, so if you ever anticipate needing a loan, you will need to use an FDIC bank. Please select the best answer from the choices provided A B C D
Answer:
(C) The FDIC is a government bureau that insures the money that customers deposit in the bank, so your money is safer in an FDIC bank.
Explanation: I completed the test and got a 100 on EDG. 2020
Answer:
c
Explanation:
Larkspur, Inc. reports net income of $91,800 in 2022. However, ending inventory was understated $7,800. What is the correct net income for 2022?
Answer:
$99,600
Explanation:
If the ending inventory was understated that means that they have less of the inventory than they had originally expected, this means that they sold more than they have calculated and therefore have not included the $7,800 in the net income. Therefore, we would need to add this amount to the actual reported net income to get the correct net income for 2022...
$91,800 + $7,800 = $99,600
The correct net income for 2022 is $99,600
Mohave Corp. is considering outsourcing production of the umbrella tote bag included with some of its products. The company has received a bid from a supplier in Vietnam to produce 9,000 units per year for $8.00 each. Mohave has the following information about the cost of producing tote bags:
Direct materials $5.00
Direct labor 1.00
Variable manufacturing overhead 1.00
Fixed manufacturing overhead 2.00
Total cost per unit $9.00
Mohave has determined that all variable costs could be eliminated by outsourcing the tote bags, while 70 percent of the fixed overhead cost is unavoidable. At this time, Mohave has no specific use in mind for the space currently dedicated to producing the tote bags.
Required:
a. Compute the difference in cost between making and buying the umbrella tote bag.
b. Based strictly on the incremental analysis, should Mohave buy the tote bags or continue to make them?
Answer:
Please see below
Explanation:
1. The level of production for the subject analysis is 9,000 units per year
Options for outsourcing
Variable unit costs = $8.00
Unavoidable unit fixed costs = 70% × $2 = $1.4
Total : $8 + $1.4 = $9.4 per unit
In house option:
Direct materials = $5
Direct labor = $1
Variable manufacturing overhead = $1
Fixed manufacturing overhead = $2
Total : $9
The cost of buying the umbrella outside is $9.4 , which is $0.4 higher than making it in-company.
2. Mohave should continue to make the tote bags instead of buying them.
Hanson Inc. has the following variable manufacturing overhead standard to manufacture one Zippy:
1.5 standard hours per Zippy at $3.00 per direct labor hour
Last week, 1,550 hours were worked to make 1,000 Zippies, and $5,115 was spent for variable manufacturing overhead.
1. Hanson’s rate variance (VMRV) for variable manufacturing overhead for the week was:_______.
a. $465 unfavorable.
b. $400 favorable.
c. $335 unfavorable.
d. $300 favorable
2. Hanson’s efficiency variance (VMEV) for variable manufacturing overhead for the week was:______.
a. $435 unfavorable.
b. $435 favorable.
c. $150 unfavorable.
d. $150 favorable.
Answer:
Variable manufacturing overhead rate variance= $465 unfavorable
Variable overhead efficiency variance= $150 unfavorable
Explanation:
Giving the following information:
Standard:
1.5 standard hours per Zippy at $3.00 per direct labor hour
Actual:
1,550 hours to make
1,000 Zippies
$5,115 was spent
To calculate the variable overhead rate variance, we need to use the following formula:
Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity
Actual rate= 5,115/1,550= $3.3
Variable manufacturing overhead rate variance= (3 - 3.3)*1,550
Variable manufacturing overhead rate variance= $465 unfavorable
To calculate the variable overhead efficiency variance, we need to use the following formula:
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (1.5*1,000 - 1,550)*3
Variable overhead efficiency variance= $150 unfavorable
All of the following are true regarding long-term notes payable except:
a.The note’s carrying value at any time equals its face value minus any unamortized discount or plus any unamortized premium.
b.Notes payable are usually issued by a single lender.
c.The market rate of interest at the time of issuance determines the periodic cash payment amount.
d.Over the life of the note, the interest expense allocated to each period is computed by multiplying the market rate by the beginning-of-period balance.
e.The equal total payments pattern has changing amounts of both interest and principal.
A long-term note is a promissory note that reflects a loan from a bank or other creditor, option c. is not a long-term note.
What does it mean to have a long-term note?A long-term note is a promissory note that reflects a loan from a bank or other creditor, but a bond is a more complicated financial instrument that typically entails debt to a number of creditors.
Option c. The periodic cash payment amount is determined by the market rate of interest at the time of issuance.
Learn more about long-term notes here:
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During the current month, Wacholz Company incurs the following manufacturing costs.
a. Purchased raw materials of $18,000 on account.
b. Incurred factory labor of $40,000. Of that amount, $31,000 relates to wages payable and $9,000 relates to payroll taxes payable.
c. Factory utilities of $3,100 are payable, prepaid factory property taxes of $2,700 have expired, and depreciation on the factory building is $9,500.
Required:
Prepare journal entries for manufacturing costs.
Answer and Explanation:
The journal entries are shown below:
a. Raw material inventory Dr $18,000
To Account payable $18,000
(Being raw material purchase as on account)
b. Factory labor expense $40,000
To Wages payable $31,000
To Payroll tax payable $9,000
(Being factory labor expense is recorded)
c. Manufacturing overhead Dr $15,300
To Utilities payable $3,100
To Prepaid factory property tax $2,700
To Accumulated depreciation - factory building $9,500
(being manufacturing overhead is recorded)
The basic promotion objectives and adoption process fit very neatly with an action-oriented model, which is called the
A) bricks and clicks model.
B) bait and hook model.
C) AIDA model.
D) DAGMAR model.
E) economic buyer model.
Answer:
C) AIDA model.
Explanation:
AIDA model which the complete words are
✓attention( seek the attention of potential buyer)
✓interest(know their interest)
✓desire
✓action.
Can be regarded as a model that has been in existence since 19th century, which is engaged in marketing to analyze the process the steps/process that consumer follow when making a purchase on a particular goods/product. It should be noted that the The basic promotion objectives and adoption process fit very neatly with an action-oriented model, is called the AIDA model.
What is the break even quantity for the following situation? FC is $1,200 per week, Variable cost is $2 per unit and Revenue is $6 per unit.A) 100.
B) 200.
C) 600.
D) 1,200.
E) 300.
Answer:
he Break-even quantity is 300 units.
Explanation:
The computation of the break even quantity is shown below
Given that
Fixed costs, FC = $1,200 per week
Variable costs, VC = $2 per unit
Revenue = $6 per unit
Based on the above information
Let us assume the break-even quantity be Z
As we know that
Total Costs = Total Revenue
Fixed costs + Variable costs = Price per unit × Quantity sold
$1,200 + ($2 x Z) = ($6 × Z)
1200 + 2Z = 6Z
4Z = 1200
Z = 300
Hence, the Break-even quantity is 300 units.
Concert Production is planning an appearance of the top band Iggy Wiggy. They plan to buy custom desgined T-shirts to sell at the stadium where the concert will take place. The T-shirt will sell for $25 and the cost per shirt is $8. Previous experience at the Concert Productions suggests that after the concert is over, T-shirts can still be sold, but the selling price will only be $5 per shirt. Based on analysis of previous similar concerts, the company estimates sales of the T-shirt will be 6,000 units. However, the analysis also shows that the standard deviation in similar situations is 800 units.
How many Iggy Wiggy T-shirts should the company order?
Answer:
Iggy Wiggy T-shirts should order 6,829 units of T-shirt
Explanation:
Cost per T-shirt = $8.00
Selling Price per T-shirt = $25
Marginal Profit = 25 - 8 = $17
Marginal Loss when t-shirt is sold for $5 = $8 - $5 = $3
Mean = 6000 units
Standard deviation = 800 units
Using the News Vendor Model
Q = MP / MP + ML
Q = 17 / (17+3)
Q = 17 / 20
Q = 0.85
Using NORMINV in Ms excel
= NORMINV (probability, mean, standard deviation)
= NORMINV(0.85,6000,800)
= 6829.14 units
Thus, Iggy Wiggy T-shirts should order 6829 units of T-shirt.
The ________ summarizes the tasks to be accomplished and who is responsible for what on a project.
Answer:
Responsibility matrix
Explanation:
The responsibility matrix deals with the various kind of the responsibilities that specified the task that should be achieved and the type of responsibility that each one of them is responsible for their work
It is also known as the linear responsibility chart
Therefore the responsibility matrix is the answer and the same is to be considered
To make effective decisions in today's fast-moving world, managers need to ________.
Custom Cars purchased some $39,000 of fixed assets two years ago that are classified as 5-year MACRS property. The MACRS rates are 20 percent, 32 percent, 19.2 percent, 11.52 percent, 11.52 percent, and 5.76 percent for Years 1 to 6, respectively. The tax rate is 34 percent. If the assets are sold today for $19,000, what will be the aftertax cash flow from the sale?
Answer:
$18,904.80
Explanation:
Calculation for what will be the aftertax cash flow from the sales
First step is to calculate the Accumulated Depreciation
Accumulated Depreciation = (0.2 + 0.32)*39,000 Accumulated Depreciation= 0.52*39,000
Accumulated Depreciation = $20,280
Second Step is to calculate the Book Value using this formula
Book Value = Initial Cost –Accumulated Depreciation
Let plug in the formula
Book Value = $39,000 - $20,280
Book Value = $18,720
Third step is to calculate the profit using this formula
Profit = Sales value–Book Value
Profit= $19,000 - $18,720
Profit = $280
Fourth Step is to calculate the taxes
Taxes = 0.34*280
Taxes = $95.20
Last step is to calculate the aftertax cash flow from the sale using this formula
Aftertax cash flow from the sale=Assets sold today-Taxes
Let plug in the formula
Aftertax cash flow from the sale= 19,000 - $58.80
Aftertax cash flow from the sale= $18,904.80
Therefore the Aftertax cash flow from the sale will be $18,904.80
A corporate bond currently yields 8.5 percent. Tax-except municipal bonds with the same risk, maturity, and liquidity currently yield 5.5 percent. At what tax rate would investors be indifferent between the two bonds? a. 35.29% b. 40.00% c. 24.67% d. 64.71% e. 30.04%
Answer:
a. 35.29%
Explanation:
The computation of the tax rate that could be non-different between the two bonds is shown below:
Given that
Corporate Bond yield = 8.5%
Municipal bonds yield = 5.5%
based on the above information
Tax Rate is
= 1 - ( Municipal bonds yield - Corporate Bond yield)
= 1 - (5.5% ÷ 8.5%)
= 35.29%
Hence, the tax rate is 35.29%
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Jolly Giant Burgers purchased a commercial dishwasher by paying cash of $8,000. The dishwasher's fair value on the date of the purchase was $10,000. The company incurred $600 in transportation costs, $500 installation fees, and paid $300 annual insurance on the equipment. For what amount will Jolly Giant Burgers record the dishwasher?
Answer:
$9,100
Explanation:
Calculation for what amount will Bahama record the dishwasher
Using this formula
Amount to record
dishwasher=Cash+Transportation costs+Installation fees
Let plug in the formula
Amount to record dishwasher=$8,000 + $600 + $500
Amount to record dishwasher = $9,100
Therefore the Amount to record dishwasher will be $9,100
Changing views on older employees in the workforce can be summed up by saying that companies used to A) offer pay raises as employees rose through the ranks, but are starting to decrease pay for elderly workers due to changes in Social Security benefits. B) regard older workers as a positive influence in the workforce, but with the aging of baby boomers, this perspective is undergoing a shift. C) encourage retirement to save money, but now are eager to benefit from older workers' knowledge, experience, and positive work ethic D) continue training workers up until the point of retirement, but today they recognize that this is a poor use of resources. E) value the knowledge, experience, and positive work ethic of older employces, but now are encouraging retirement in order to save money
Answer:
The changing views on older employees in the workforce can be summed up by saying that companies used to:
C) encourage retirement to save money, but now are eager to benefit from older workers' knowledge, experience, and positive work ethic.
Explanation:
Older employees have got the wisdom and experience to function effectively in their roles. This is why employers are now trying to derive the best value from older workers. The knowledge and wisdom that employers access from their older workers can be used to encourage the younger workers to attain stellar performance. They also use the older workers to showcase the exemplary conducts which are expected from the younger workers.
The Economy Tomorrow Suppose a person who is developing an app crowdfunds $20,000 and holds this as cash for future expenses. If this $20,000 comes from donors' checking accounts, by how much will the money supply fall of the reserve ratio is 10 percent? Instructions: Enter your response as a whole number The money supply will decrease by $___________.
Answer:
Decrease in money supply = $200,000
Explanation:
Given:
Check account balance = 20,000
Reserve ratio = 10 percent
Find:
Money supply will decrease
Computation:
Decrease in money supply = Decrease in check account balance[1/reserve ratio]
Decrease in money supply = $20,000[1/0.10]
Decrease in money supply = $200,000
If, at a good's current price, the quantity demanded is 2,000 units and the quantity
supplied is 1,000 units then:
A) the current price is below the equilibrium price.
B) producers are not responsive to price changes.
C) the current price is above the equilibrium price.
Answer:
C.
Explanation:
Because there is more demand with this good, the current price projects how the sellers are reacting to the market. If there is a shortage of goods being supplied to a market then this means that the sellers price is too high because more people (who arent willing to pay for it for so much) are wanting the product.
Suppose you invest $1,600 for six years at an annual percentage rate of 9 percent. a. What is the future value if interest is compounded annually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. What is the future value if interest is compounded semiannually? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What is the future value if interest is compounded monthly? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) d. What is the future value if interest is compounded continuously? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
a. Principal amount = $1,600
rate of interest = 9% compounded annually
Period = 6 years
Future value = P (1+r)^t
= $1,400 (1+0.09)^6
= $1,600 * 1.6771
= $2683.36
b. Principal amount = $1,600
rate of interest = 9% compounded semi annually, semi annual rate of interest = 9*6/12 = 4.5%
Time = 6 years, semiannual period = 6*2 =12
Future value = P (1+r)^t = $1,400 (1+0.045)^12
= $1,600 * 1.6959
= $2713.44
c. Principal amount = $1,600
Rate of interest = 9% compounded monthly, monthly rate of interest = 9/12 = 0.75%
Time = 6 years, monthly period = 6*12 =72
Future value = P (1+r)^t
= $1,600 (1+0.0075)^72
= $1,600 * 1.7125
= $2740
d. Principal amount = $1,400
Rate of interest = 9% compounded continuously
Period = 6 years
Future value = P * e^rt
= $1,600 (2.71828)^(0.09*6)
= $1,600 * 1.7160
= $2745.60
A project has the following projected outcomes in dollars:______. $210, $340, and $520. The probabilities of their outcomes are 20%, 50%, and 30% respectively. What is the expected value of these outcomes?
Answer:
Expected value of these outcomes is $368
Explanation:
Expected value is the weighted average value of random variable. It is the sum of all the probable outcome.
Expected value can be calculated as follow
Outcomes ________ Probabilities _________ Expected values
$210 _______________ 20% ________________ $42
$340 _______________ 50% ________________ $170
$520 _______________ 30% ________________ $156
Total ____________________________________ $368
Last year, Brian bought a bond for $10,000 that promises to pay him $800 per year. This year, he can buy a bond for $10,000 that promises to pay $900 per year. If Brian wants to sell his old bond, what is its price likely to be?
Answer:
the price likely to be $8,889
Explanation:
The computation of the price likely to be is shown below:
The rate of interest in the last year
= $800 ÷ $10,000
= 8%
Now this year the rate of interest it would be
= $900 ÷ $10,000
= 9%
Now the price likely to be is
= $800 ÷ 9%
= $8,889
hence, the price likely to be $8,889
hence, the same is to be considered
What is the price of a stock today if it pays a Dividend TODAY of $2. Its growth rate is 5%, and its market return is 12%?
Answer:
$30.00
Explanation:
The price of the stock can be derived from the stock theoretical price formula given and explained below:
stock price=expected dividend/(market return-growth rate)
expected dividend=dividend paid today*(1+growth rate)
expected dividend=$2*(1+5%)
expected dividend=$2.10
market rate of return=12%
growth rate=5%
stock price=$2.10/(12%-5%)
stock price=$2.10/7%
stock price=$30.00