According to the sectoral shifts hypothesis:_______.
a. frictional unemployment will cause workers to extend their temporary lay-offs.
b. most unemployed workers will return to their previous job because the firm knows the skills of the worker.
c. there will always be a pool of unemployed workers who experience spells of unemployment because they do not aggressively search for work cyclical unemployment will always exceed frictional unemployment.
d. there will be always be some level of unemployment because the skills of the workers do not match the skill requirements of employers.

Answers

Answer 1

Answer:

a. frictional unemployment will cause workers to extend their temporary lay-offs.

Explanation:

Remember, frictional unemployment is a type of unemployment that is self-inflicted by workers who want to change jobs (sectorial shifting) within the same economy; thus, they quit their present job in search of a new one.

However, due to uncontrolled circumstances, they may extend their temporary layoffs or period of unemployment, making them become frictionally unemployed.


Related Questions

What is a green thumb?
An ability to care for animals
An ability to climb trees
An ability to care for plants
An interest in the environment

Please help

Answers

An ability to care for plants. Gardener’s green thumb

Answer:

It is the ability to care for plants.

Explanation:

The president of the Super Sip Soda Corporation asks you, as the company economist, to forecast changes in consumer root beer purchases associated with a proposed price change. You conduct a survey and find that if the price of a six-pack increases from $8.50 to $10.50, the quantity demanded will decrease from 2,500 units to 2,350 units a month

Answers

Answer:

the price elasticity of demand (midpoint formula) = % change in quantity demanded / % change in price = {(2,350 - 2,500) / [(2,350 + 2,500)/2]} / {(10.50 - 8.50) / [(10.50 + 8.50)/2]} = (-150 / 2,425) / (2 / 9.50) = -0.0619 / 0.2105 = -0.294 or |0.294| in absolute terms, price inelastic

this means that for every 1% that price increases, total quantity demanded will decrease by only 0.294%.

You can increase total revenue by increasing the price of beer:

previous revenue = $8.50 x 2,500 = $21,250

new revenue = $10.50 x 2,350 = $24,675

It is actually a very good idea to go ahead and increase the price.

1. What are the different types of economic measurements used to analyze most
economies?​

Answers

Answer:

Government borrowing/national debt.

Real disposable incomes.

Income inequality (Gini coefficient)

Labour productivity.

Investment levels.

Exchange rate.

Misery index (inflation rate + Unemployment rate)

Poverty levels.

Explanation:

hope this helps :)

and i did it on a test and got it right! pls make me Brainiest!!!!

According to the video, which of these skills and abilities will help a worker succeed in this career cluster? Check all
that apply

being alert

being a quick learner

having good
communication skills

being assertive

being flexible

being confident

Answers

Answer:

B, C, E

Explanation:

Answer:

B. being a quick learner

C. having good communication skills

E. being flexible

Explanation:

There is a new country called Saffron where the people's political opinions lead them to divide themselves into five different groups, representing different outlooks on how the legislature should approach public policy. These five groups based on political convictions in turn result in the formation of five political parties (each named after a type of food). The five parties are listed below in order from most liberal to most conservative. In the first election for the legislature in this country the people vote for their candidates and their parties as follows, with the vote in the whole country being the same as the vote in every part of it:
Fruit 28%Soup 14%Bread 12%Meat 20%Vegetable 26%If after the first election process is complete the Vegetable party has some seats in the legislature and the Meat party has none, then the election system is which of the following?A. Proportional representation.B. Single member districts and majority winners.C. Single member districts and plurality winners.

Answers

Answer: B. Single member districts and majority winners.

Explanation:

This is a Single member district majoritarian system because that is the only way that Vegetable party would have some seats in the legislature and the Meat party would have none.

In a Single member district majoritarian system, only 1 member will be chosen per district and this would be the person with the majority of votes in the first election process.

In this case therefore, Vegetable party won the majority in some districts that it ran in and Meat did not win the majority in any.

On June 1, 2017, Pharoah Company was started with an initial investment in the company of $22,350 cash. Here are the assets, liabilities, and common stock of the company at June 30, 2017, and the revenues and expenses for the month of June, its first month of operations:


Cash $5,010 Notes payable $12,820
Accounts receivable 4,290 Accounts payable 790
Service revenue 7,910 Supplies expense 1,030
Supplies 2,370 Maintenance and repairs expense 630
Advertising expense 400 Utilities expense 270
Equipment 26,410 Salaries and wages expense 1,810
Common stock 22,350

In June, the company issued no additional stock but paid dividends of $1,650.

Required:
Prepare an income statement for the month of June.

Answers

Answer:

                            Pharaoh Company

                             Income statement  

                 For the year ended June 30, 2017  

Revenue & Gains                                              Amount

Service Revenue                                               $7,910

Total revenue & gains (A)                                 $7,910

Expense and losses:

Salaries and wages expense         $1,810

Advertising expense                       $400

Supplies expense                            $2,370

Utilities expense                              $270

Maintenance and repair expense  $630

Total expense (B)                                            $5,480

Net Income (A - B)                                          $2,430

how do you determine a bond premium or discount

Answers

A premium is likeand a discount i

ASSUMPTIONS
Sales Price per Unit $49.99
Gross Margin = (Revenues - cost of goods sold) / Revenues 25%
Depreciation & amortization as a % of capital expenditures 25%
Tax Rate 35%
Year 2014 2015 2016 2017 2018
Units Sold 200,000
Growth Rate Of Unit Sold 5% 13% 15% 9%
Operating Expenses as % of Sales (2014 Only) 10%
Operating Expense Growth Rate 4% 4% 4% 4%
Capital Expenditures $1,750,000 $1,775,000 $1,800,000 $1,825,000 $1,850,000
Interest Expense $0 $10,000 $10,000 $10,000 $12,500
Income Statement
Year 2014 2015 2016 2017 2018
Units Sold
Price per Unit
Revenue
Cost of goods sold
Gross Profit (defined as Revenue - COGS)
Operating Expenses
Earnings Before Interest Taxes Depreciation And Amortization (Ebitda)
EBITDA / Revenue (%)
Depreciation and Amortization
Operating Income (defined as EBITDA - Depreciation and Amortization)
Interest Expense
Pre-tax Net Income (Operating Income - Interest Expense)
Income Taxes
Net Income (Pret-tax Net Income - Income Taxes)
If Depreciation & Amortization as a % of Capital Expenditures is changed to 30%, what is Net Income in 2017?

Answers

Answer:

Income Statement

Year                    2014          2015            2016            2017             2018

Units Sold     200,000      210,000       237,300      272,895       297,456

Price per Unit  $49.99        $49.99          $49.99         $49.99         $49.99  

Revenue   $9,998,000 $10,497,900 $11,862,627 $13,642,021 $14,869,825

COGS       $7,498,500   $7,873,425  $8,896,970  $10,231,516  $11,152,369

G/Profit    $2,499,500   $2,624,475 $2,965,657  $3,410,505    $3,717,456

Operating

Expenses   999,800     1,039,792      1,081,384      1,124,639      1,169,624

EBITDA   $1,499,700   $1,584,683   $1,884,273  $2,285,866  $2,547,832

EBITDA / Revenue

(%)               15%                15.1%             15.9%           16.8%             17.1%

Depreciation and Amortization

                $437,500     $443,750    $450,000     $456,250     $462,500

Operating

Income $1,062,200 $1,140,933 $1,434,273 $1,829,616 $2,085,332

Interest

Expense $0              $10,000      $10,000      $10,000      $12,500

Pre-tax $1,062,200   $1,130,933   $1,424,273    $1,819,616   $2,072,832

Net Income (Operating Income - Interest Expense)

Income (35%)

Taxes    $371,770     $395,827     $498,495     $636,866      $725,491

Net       $690,430      $735,106     $925,778    $1,182,750    $1,347,341

Income (Pret-tax Net Income - Income Taxes)

Explanation:

a) Data and Calculations:

Sales Price per Unit $49.99

Gross Margin = (Revenues - cost of goods sold) / Revenues 25%

Depreciation & amortization as a % of capital expenditures 25%

Tax Rate 35%

Year                    2014          2015            2016            2017             2018

Units Sold     200,000      210,000       237,300      272,895       297,456

Growth Rate

Of Unit Sold                          5%                13%             15%             9%

Sales

Revenue $9,998,000 $10,497,900 $11,862,627 $13,642,021 $14,869,825

COGS       $7,498,500   $7,873,425 $8,896,970  $10,231,516  $11,152,369

Operating

Expenses     999,800     1,039,792      1,081,384      1,124,639      1,169,624

as % of Sales (2014 Only) 10%

Operating Expense Growth Rate 4% 4% 4% 4%

Capital

Expenditures $1,750,000 $1,775,000 $1,800,000 $1,825,000 $1,850,000

Interest Expense $0              $10,000      $10,000      $10,000      $12,500

Depreciation   $437,500    $443,750   $450,000   $456,250   $462,500

G/Profit = (Gross Profit defined as Revenue - COGS)

COGS = Cost of Goods Sold

Assume these events happened to Bakko, Inc. in Year 4. Bakko uses December 31 for the annual reporting period. At the beginning of Year4, Bakko owns 12 donut stores and 30 gas stations. Each of the 42 businesses is a separate business component. Bakko sells 2 donut stores in Year4 on October 1. The disposition is not considered to be a strategic shift. Bakko sells 6 gas stations in urban areas on May 1. The disposition is considered to be a strategic shift.
Match each of the following descriptions to where it would most likely be reported on Bakko's corporate income statement for Year 4.
1. Gain of $12,000 on sale of some equipment from one of the gas stations that Bakko still owns at 12/31/Year 4.
2. Bakko receives $5,000 for a fuel contract that will begin in Year 5.
3. Bakko has $100,000 gain on the sale of the gas stations on May 1, Year 4.
4. Operating results through April 30,Year 4 for the gas stations that were sold.
5. Bakko has a $20,000 loss on the sale of the donut stores on October 1.
A. Part of income from continuing operations.
B. As a discontinued operation.
C. Not part of net income for Year 4.

Answers

Answer:

1. Gain of $12,000 on sale of some equipment from one of the gas stations that Bakko still owns at 12/31/Year 4.  - Part of income from continuing operations.

The gas station is still owned by Bakko so the gain received will form part of income from continuing operation.

2. Bakko receives $5,000 for a fuel contract that will begin in Year 5.  - Not part of net income for Year 4

As per the Revenue Recognition principle of Accounting, revenue is only to be recorded when earned which means that this revenue will be in the Year 5 income.

3. Bakko has $100,000 gain on the sale of the gas stations on May 1, Year 4.  - As a discontinued operation.

The gas station has been sold and so is a discontinued operation.

4. Operating results through April 30,Year 4 for the gas stations that were sold.  - As a discontinued operation.

The gas station has been sold and so is a discontinued operation. Will be reported in the Income statement as such.

5. Bakko has a $20,000 loss on the sale of the donut stores on October 1. - As a discontinued operation.

The donut store was sold and is no longer a part of Bakko so is a discontinued operation.

Tootsie Roll Industries is engaged in the manufacture and sale of candy. Major products include Tootsie Roll, Tootsie Roll Pops, Tootsie Pop Drops, Tootsie Flavor Rolls, Charms, and Blow-Pop lollipops. The following items were listed on Tootsie Roll's recent income statement and balance sheet. Mark each item from the balance sheet as an asset (A), liability (L), or shareholders' equity (SE) and each item from the income statement as a revenue (R) or expense (E).

a. Notes payable to banks
b. General and administrative
c. Accounts payable
d. Dividends payable
e. Retained earnings
f. Cash and cash equivalents
g. Accounts receivable
h. Provision for income taxes[1]
i. Cost of goods sold

Answers

Answer:

Matching the financial statement items to financial statement categories:

Financial Statement Items                          Financial statement

a. Notes payable to banks                             Liability (L)

b. General and administrative                       Expense (E)

c. Accounts payable                                       Liability (L)

d. Dividends payable                                      Liability (L)

e. Retained earnings                                       Shareholders' equity (SE

f. Cash and cash equivalents                        Asset (A)

g. Accounts receivable                                  Asset (A)

h. Provision for income taxes[1]                     Expense (E)

i. Cost of goods sold                                     Expense (E)

Businesses in the United States are governed by laws that provide rights to all citizens regardless of their race, color, religion, gender, or country of origin. The U.S. Constitution established three branches of government to ensure that no one group or individual could control all the power. The three branches—legislative, executive, and judicial—act as a system of checks and balances. The goal of this activity is to determine which branch of government regulates each human resource management issue. The three branches of government in the United States influence human resource management (HRM) practices such as recruitment, selection, compensation, and performance management. This activity is important because Individuals need to be aware of the legal system and legislation governing HRM practices in the workplace.

Match the brach of the Fedral goverment with the followings.

a. Retirement
b. Best Buy
c. Labor Relations
d. Affirmative Action
e. Ford
f. Education
g. Oil Pipeline
h. Starbucks
i. Equal Employment

1. Judicial Branch
2. Executive Branch
3. Legislative Branch

Answers

Answer:

Executive Branch: Affirmative Action, Oil Pipeline, Equal Employment

Judicial Branch: Labor Relations, Best Buy, Starbucks

Legislative Branch: Ford, Education, Retirement

Northstar Company uses ABC to account for its chrome wheel manufacturing process.
Company managers have identified four manufacturing activities that incur manufacturing overhead costs: materials handling, machine setup, insertion of parts and finishing.
The budgeted activity costs for the upcoming year and their allocation bases are as follows:
Activity Total Budgeted Allocation Base
Manufacturing
Overhead Cost
Materials handling $12,000 Number of parts
Machine setup 3,400 Number of setups
Insertion of parts 48,000 Number of parts
Finishing 80,000 Finishing direct labor hours
Total $143,400
Northstar expects to produce 1,000 chrome wheels during the year.
The wheels are expected to use 3,000 parts, require 10 setups and consume 2,000 hours of finishing time.
Job 420 used 150 parts, required 2 setups and consumed 100 finishing hours.
Job 510 used 500 parts, required 4 setups and consumed 310 finishing hours.
Required:
1. Compute the cost allocation rate for each activity.
2. Compute the manufacturing overhead cost that should be assigned to Job 420.
3. Compute the manufacturing overhead cost that should be assigned to Job 510.

Answers

Answer:

Instructions are below.

Explanation:

First, we need to calculate the predetermined overhead rate for each activity:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Materials handling= 12,000/3,000= $4 per part

Machine setup= 3,400/10= $340 per setup

Insertion of parts= 48,000/3,000= $16 per part

Finishing= 80,000/2,000= $40 per finishing direct labor hour

Job 420 used 150 parts, required 2 setups and consumed 100 finishing hours.

Job 510 used 500 parts, required 4 setups and consumed 310 finishing hours.

To allocate costs, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job 420:

Materials handling= 4*150= $600

Machine setup= 340*2= $680

Insertion of parts= 16*150= $2,400

Finishing= 40*100= $4,000

Total allocated cost= $7,680

Job 510:

Materials handling= 4*500= $2,000

Machine setup= 340*4= $1,360

Insertion of parts= 16*500= $8,000

Finishing= 40*310= $12,400

Total allocated cost= $23,760

Why is investing in gold beneficial?
A. It is easy to mine.
B. It is considered a stable investment
C. Gold is more expensive than stocks.
D. The value of hold is subject to inflation.

Answers

Answer:

B

Explanation:

The value of gold is usually very consistent especially when accounting for inflation

A company issued 800 shares of $4 par value preferred stock for $5 per share. What is true about the journal entry to record the issuance

Answers

Answer:

This question is incomplete. I tried looking for the full question but i could not find it.

However, I have provided the notes below to help you with important principles on the issuance of Par Value stated Preference Stock.

Notes :

It is important to remember that any amount paid in excess of par value when it comes to par value stated stocks is accounted for in a stock premium reserve.

Journal Entry to record issuance of preferred stock  is :

Cash $4,000 (debit)

Preference Stock $3,200 (credit)

Paid In Excess of Par  $800 (credit)

Thus, of the $5 , 1$ was paid in excess and the total to go in the reserve is $800.

What businesses have the biggest contribution to socioeconomic development of the philippines

Answers

Answer:

Philippine chemicals industry.

Explanation:

Philippine chemical industry strives to turn the raw resources of the country into a wide variety of higher-demand goods that serve the best consumer benefit for domestic and global business needs. It can achieve sustainable growth by constantly developing goods and processes, and thereby lead to the employment generation and socio-economic prosperity of the country.

A landowner has just acquired 370 acres of new land, and is using the Cost-Benefit Principle to decide between three alternative uses for the land: growing corn, growing soybeans, or renting it to a local farmer. If corn is planted, the landowner expects to earn $980 per acre, while soybeans pay only $575 per acre. Renting the land earns the landowner $400 per acre. In addition, the cost of growing and harvesting corn is estimated to be $203,500, while only $88,800 for soybeans. We can assume there are no costs associated with renting the land.

Required:
a. For this landowner, the opportunity, or implicit cost of growing corn is $___________ from____________
b. The opportunity, or implicit cost of growing soybeans is $___________ from ___________
c. The landowner maximizes economic surplus by ____________

Answers

Answer:

See explanation below.

Explanation:

a. Opportunity cost is a term in economic, which is used to express cost, in terms of forgone alternatives.

For this landowner , the opportunity , or implicit cost of growing corn is $148,000 [$400 per acre × 370 acres] from renting the land.

b. The opportunity cost or implicit cost of growing soya beans is $148,000 [$400 × 370 acres] from renting the land.

c. The landowner maximizes economic surplus by renting the land.

Kirtland Corporation uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records for the most popular item in inventory showed the following;Transactions Units Unit CostBeginning Inventory Jan 1, 2015 400 $3.00Transactions during 2015:a) Purchase, Jan 30 300 $3.40b) Purchase, May 1 460 $4.00c) Sale ($5 each) (160)d) Sale ($5 each) (700)Compute the amount of goods available for sale.Goods available for sale _____________Compute the amount of ending inventory and cost of goods sold at December 31 under Average cost, First-in, first-out, Last-in, first-out, Specific identification of the inventory costing methods. For Specific identification, assume that the first sale was selected two-fifths from the beginning inventory and three-fifths from the purchase of January 30. Assume that the second sale was selected from the remainder of the beginning inventory, with the balance from the purchase of May 1. (Do not round intermediate calculations. Round your answers to the nearest whole dollar amount.)Average Cost First-In, First Out Last-In, First-Out Specific IdentificationEnding Inventory Cost of goods sold

Answers

Answer:

Goods available for sale = 300 units

ending inventory under:

FIFO = $1,200LIFO = $900weighted average = $1,050specific identification = $981.60

COGS under:

FIFO = $2,860LIFO = $3,160weighted average = $3,010specific identification = $3,078.40

Explanation:

Transactions                                       Units        Unit Cost      Total

Beginning Inventory Jan 1, 2015        400          $3.00         $1,200

a) Purchase, Jan 30                            300          $3.40         $1,020

b) Purchase, May 1                              460          $4.00         $1,840

c) Sale                                                 (160)          $5.00                      ($800)

d) Sale                                                (700)          $5.00                     ($3,500)

total                                                      300                             $4,060

ending inventory under:

FIFO = 300 x $4 = $1,200

LIFO = 300 x $3 = $900

weighted average = ($4,060 / 1,160) x 300 = $1,050

specific identification = $4,060 - $3,078.40 = $981.60

COGS under:

FIFO = 300 x $4 = $4,060 - $1,200 = $2,860

LIFO = 300 x $3 = $4,060 - $900 = $3,160

weighted average = $4,060 - $1,050 = $3,010

specific identification = (160 x 2/5 x $3) + (160 x 3/5 x $3.40) + (240 x $3) + (460 x $4) = $3,078.40

when opening a bank account it asks you for a proof of address, can I put an address as the proof one but use a different address to actually get it shipped to a hotel? ...outta town​

Answers

No. The answer is No.
No....... just, yeah, no

Taco Bell processes on average 1,500 customers per day (15 hours). On average there are 75 customers in the restaurant (waiting to place the order, waiting for the order to arrive, eating, etc.). How long does an average customer spend at Taco Bell and what is the average customer turnover

Answers

Answer:

1.333 customers per hour

Explanation:

The computation of average customer turnover is shown below:-

number of customers processed per hour = 1,500 ÷ 15

= 100 customers per hour

Now,

Average time spend by the customer is given as the ratio I/R = 75  ÷  100

= 0.75 hours

or

= 45 minutes

Customer turnover = 100  ÷  75

= 4/3

or

= 1.333 customers per hour

At December 31, 2019, Concord Corporation had the following stock outstanding.
10% cumulative preferred stock, $100 par, 107,956 shares $10,795,600
Common stock, $5 par, 4,068,220 shares 20,341,100
During 2020, Concord did not issue any additional common stock. The following also occurred during 2020.
Income from continuing operations before taxes $22,234,700
Discontinued operations (loss before taxes) $3,457,200
Preferred dividends declared $1,079,560
Common dividends declared $2,404,100
Effective tax rate 35%
Compute earnings per share data as it should appear in the 2020 income statement of Concord Corporation.

Answers

Answer:

                                 Concord Corporation

                                   Income Statement

                                         31-Dec-20

Particulars                                                    Amount

Net Income:  

Income from continuing operation             $22,234,700

before income tax

Income Tax (35%)                                          $7,782,145    

Income from continuing operation  $14,452,555

Discontinued operations

Losses before taxes        $3,457,200.00  

Less: Income tax (35%)    $1,210,020.00      $2,247,180

Net Income                                                    $12,205,375

Preferred dividend declared                                 $1,079,560

Weighted average common share outstanding  4,068,220

Earning per share = Income from continuing operation - Discontinued operation, net of tax

Where Income from continuing operation = ($14,452,555 - $1,079,560) / 4068220 = $3.29. Discontinued operation, net of tax  = ($2,247,180/4068220) = -$0.55

Earning per share = $3.29 - $0.55

Earning per share = $2.74

In each of the following cases, determine how much GDP and each of its components is affected, if at all:
A. Debbie spends $200 to buy her husband dinner at the finest restaurant in Boston.
B. Sarah spends $1800 on a new laptop to use in her publishing business. The laptop was built in China.
C. Jane spends $1200 on a computer to use in her editing business. She got last year’s model on sale for a great price from a local manufacturer.
D. General Motors builds $500 million worth of cars, but consumers only buy $470 million worth of them.
Computing GDP: 2018 (base year) 2019 2020 P Q P Q P QGood A $30 $900 $31 $1000 $36 $1050Good B $100 $192 $102 $200 $100 $205
2. Use the above data to solve these problems:A. Compute nominal GDP in 2018.B. Compute real GDP in 2019.C. Compute the GDP deflator in 2020.

Answers

Answer:

Follows are the solution to this question:

Explanation:

In option A, Its increase in consumption and GDP is $200.

In option B, Investment decisions increase about $1800, net exports drop by $1800 and therefore GDP should remain constant.

In option C, GDP or investment wasn’t increasing only at present because estimates were produced last year.

In option D, Market growth is $470 million, options trading is rising by $30 million but GDP is growing by $500 million.

GDP is just a misleading indicator, it does not take into account recreation, environmental protection, education and health rates, non-market behaviors, changes in wealth disparity, increases of variety or rises in innovation. HDI's social progress Index could be used to highlight a need for people or their ability to assess national growth as the supreme requirement.

On January 2, Chaz transfers cash of $143,400 to a newly formed corporation for 100% of the stock. In its initial year, the corporation has net income of $35,850. The income is credited to its earnings and profits account. The corporation distributes $10,755 to Chaz.
A. How do Chaz and the corporation treat the $10,755 distribution?
B. Assume instead that Chaz transfers to the corporation cash of $71,700 for stock and cash of $71,700 for a note of the same amount. The note is payable in equal annual installments of $7,170 and bears interest at the rate of 6%. No distributions are made during the year to Chaz. However, at the end of the year, the corporation pays an amount to meet the loan obligation(i.e., the annual $7,170 principal payment plus the interest due). Determine the total amount of the payment and its tax treatment to Chaz and the corporation.
The corporate payment to Chaz totals $_____. Chaz has interest of $______ and a note repayment of $____ of which $____is taxable to Chaz. The corporation has a deduction of $____$ of which $ is taxable to Chaz. The corporation has a deduction of $.

Answers

Answer: See explanation

Explanation:

A. Chaz has a taxable dividend of $10,755 and the corporation has a deduction of $0.

It should be noted that the dividend will be taxable once it gets to the receivers hand while the corporation will have a deduction of 0

B. The corporate payment to Chaz totals $11472. Chaz has interest of $4302 and a note repayment of $7170 of which $4302 is taxable to Chaz. The corporation has a deduction of $4302

Notes:-

Interest = $71700 × 6%

= $71700 × 0.06

= $4302

Total repayment:

= First installment + Interest

= $7170 + $4302

= $11472

Vintage Fun reproduces old-fashioned style roller skates and skateboards. The annual production and sales of roller skates is 1,000 units, while 1 skates require 1.5 direct labor hours per unit, while skateboards require 1:25 direct labor hours per unit. The total estimated overhead for the period used an activity-based costing system, it would have the following three activity cost pools: Expected activity Estimated overhead cost $6,550 $16,000 $91450 Activity cost pool Roller skates Skateboards Total Setup costs 345 320 665 Engineering costs Maintenance costs 490 630 1,120 2,175 2,178 4,353 The overhead cost per skateboard using an activity-based costing system would be closest to (Round all answers to two decimal places.)
A. $45.14
B. $57.91
C. $114.72
D. $33.47

Answers

Answer:

D. $33.47

Explanation:

The computation of overhead cost per skateboard using an activity-based costing system is shown below:-

                                    Total          Expected           Activity

Activity pool cost      Overheads    Activity               Rate

Setup cost                     $6,550           665                9.85

Engineering cost          $16,000        1,120                14.29

maintenance cost        $91,450        4,353               21.01

Activity pool cost          Rate             Driver         Overhead cost  

Setup cost                       9.85              320              3,152  

Engineering cost             14.29             630             9,002.7

maintenance cost            21.01              2,178           45,759.78  

Total Overheads cost                                               57,914.48

Number of units                                                               1,730

Overhead cost per unit                                                $33.48

Therefore for computing the overhead cost per unit we simply divide the total overhead cost by number of units.

A new aluminum part production facility opened for business, selling products for $9,000 each. The rent on the facility building is $5,000/month and additional utilities cost $15,000/month. The production line is open 24 hours every day of the month (calculate with 30 days per month). Each day has three 8-hour shifts with 10 workers present in each of these snifts. All workers get paid $30/hour. The materials used for your product cost $2,500/product. Your accountant advises you that your corporate taxes are estimated to be $500/product.
Calculate, how many products you must make and sell in one month to make a $1,000,000 profit per month.

Answers

Answer:

Break-even point in units= 172 units

Explanation:

Fixed costs=  5,000 + 15,000= $20,000

Direct labor cost= [(10*8)*3]*30= $7,200

Tax= $500 per unit

Direct material= $2,500 per unit

To calculate the number of units to be sold, we need to use the following formula:

Break-even point in units= (fixed costs + desired profit) / contribution margin per unit

Break-even point in units= (20,000 + 7,200 + 1,000,000) / (9,000 - 500 - 2,500)

Break-even point in units= 172 units

Prove:

Sales= 172*9,000= 1,548,000

Variable costs= 172*3,000= (516,000)

Contribution margin= 1,032,000

Fixed costs= 27,200

Net income= 1,004,800

Prepare the necessary adjusting entries at December 31, 2019 for the Washington Apple Company. Assume that no adjustments were made during the year. Use the journal below.

a. On October 1, 2019 the company purchased for cash a one year fire policy for $4000.
b. The company had depreciation on equipment of $12,500 for the year.
c. On December 28, 2019 the company received $4000 cash for products. The entire $4000 was counted as revenues for the year when the transaction was made. One half of the product was shipped on December 30, 2019 and the other half won't be produced and shipped until mid-January.

Answers

Answer:

Entries are given

Explanation:

Fire policy will be debited as it is an asset for the company. Depreciation is always debited as it is a non-cash expense and accumulated depreciation will be credited related to the equipment depreciated. Revenue will be recognized to the extent of value the company has provided as a service or a product.

                                                                         DEBIT         CREDIT

Fire policy                                                        $4,000

cash                                                                                      $4,000

Depreciation expense                                    $12,500

Accumulated depreciation (equipment)                            $12,500

Cash                                                                   $4.000

Revenue                                                                                $2,000

Unearned revenue                                                               $2.000

The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials $15,300
Indirect labor 133,000
Property taxes, factory 8,300
Utilities, factory 73,000
Depreciation, factory 152,100
Insurance, factory 10,300
Total actual manufacturing overhead costs incurred $392,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) $403,000
Direct labor cost $63,000
Inventories: Raw materials, beginning $20,300
Raw materials, ending $30,300
Work in process, beginning $40,300
Work in process, ending $70,300
The company uses a predetermined overhead rate of $20 per machine-hour to apply overhead cost to jobs. A total of 20,000 machine-hours were used during the year.
Required:
a. Compute the amount of under-applied or over-applied overhead cost for the year.
b. Prepare a schedule of cost of goods manufactured for the year.

Answers

Answer:

See explanations below.

Explanation:

a. It is over applied overhead cost because applied overhead cost is more than the actual overhead cost.

Applied overhead cost = 20,000 hours × $20 = $400,000.

b. Please find attached schedule of cost of goods manufactured as requested.

The PE ratio is useful because it measures: A. how much an investor is willing to pay for $1 of earnings. B. how much a stock is expected to earn. C. how much earnings are going to grow.

Answers

Answer:

A. how much an investor is willing to pay for $1 of earnings.

Explanation:

The formula used to calculate the price earnings ratio (PE) = market price of the stock / earnings per stock. E.g. a company that earns $2 per stock and its stock is worth $50 has a PE ratio = $50 / $2 = 25.

The higher the PE ratio, the higher the expected growth rate. Earnings of a company that has a PE ratio of 25 should grow at a much higher rate than a company with a PE of 10.

A very high PE ratio can mean that:

the company's growth rate is very highthe company's stock is overvalued

Investors generally compare a company's PE ratio against the industry's average, e.g. the average PE ratio of companies that list in the S&P 500 is between 13-15.

The following selected accounts appear in the adjusted trial balance for Deane Company.Indicate the financial statement on which each account would be reported.Account (a) Accumulated Depreciation. (b) Depreciation Expense. (c) Retained Earnings (beginning). (d) Dividends. (e) Service Revenue. (f) Supplies. (g) Accounts Payable. Financial Statements:1. Balance Sheet2. Income Statement3. Retained Earnings Statement

Answers

Answer:

          Accounts                                      Financial Statements

(a) Accumulated Depreciation               Balance sheet

(b) Depreciation Expense                       Income statement

(c) Retained Earnings (beginning)          Retained earnings statement

(d) Dividends                                            Retained earnings statement

(e) Service Revenue                                Income statement

(f) Supplies                                               Balance sheet

(g)Accounts Payable                               Balance sheet

Considering all of the factors listed in the preceding SWOT analysis question, which of the following strategies would make the most sense for the Cubs in the upcoming season? A. Assume that as the players age, they will continue to produce at their current levels. B. Keep the Cubs intact and do not hire any new players because the team was good enough to win the World Series. C. Sign a free-agent outfielder to bolster the current roster and sign the current pitchers to long-term contracts. D. Trade the Cubs’ current pitchers to another team for minor-league prospects who aren’t ready for the major league.

Answers

Answer:

b. Sign a free-agent outfielder to bolster the current roster and sign the young pitchers to long-term contract.

Explanation:

Sign a free-agent outfielder to bolster the current roster and sign the young pitchers to long-term contract. Keeping the existing strength will provide a competitive advantage to the firm. This strategy will help to add strength to the existing team as well as prepare a long term team.

Consider two neighboring island countries called Euphoria and Bellissima. They each have 4 million labor hours available per week that they can use to produce jeans, corn, or a combination of both. The following table shows the amount of jeans or corn that can be produced using 1 hour of labor.Country Jeans Corn (Pairs per hour of labor) (Bushels per hour of labor)Euphoria 5 20Bellissima 8 16Initially, suppose Bellissima uses 1 million hours of labor per week to produce jeans and 3 million hours per week to produce corn, while Euphoria uses 3 million hours of labor per week to produce jeans and 1 million hours per week to produce corn. Consequently, Euphoria produces 15 million pairs of jeans and 20 million bushels of corn, and Bellissima produces 8 million pairs of jeans and 48 million bushels of corn. Assume there are no other countries willing to trade goods, so in the absence of trade between these two countries, each country consumes the amount of jeans and corn it produces.Euphoria’s opportunity cost of producing 1 pair of jeans is of corn, and Bellissima's opportunity cost of producing 1 pair of jeans is of corn. Therefore, has a comparative advantage in the production of jeans, and has a comparative advantage in the production of corn.Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces jeans will producemillion pairs per week, and the country that produces corn will producemillion bushels per week.In the following table, enter each country's production decision on the third row of the table (labeled "Production"). Euphoria Bellissima Jeans Corn Jeans Corn (Millions of pairs) (Millions of bushels) (Millions of pairs) (Millions of bushels)Without TradeProduction 15 20 8 48Consumption 15 20 8 48With TradeProduction Imports/Exports Consumption Gains from TradeIncrease in Consumption Suppose the country that produces jeans trades 18 million pairs of jeans to the other country in exchange for 54 million bushels of corn.In the previous table, use the dropdown menus across the row labeled "Imports/Exports" to select the amount of each good that each country imports and exports. Then enter each country’s final consumption of each good on the line labeled "Consumption."When the two countries did not specialize, the total production of jeans was 23 million pairs per week, and the total production of corn was 68 million bushels per week. Because of specialization, the total production of jeans has increased bymillion pairs per week, and the total production of corn has increased bymillion bushels per week.Because the two countries produce more jeans and more corn under specialization, each country is able to gain from trade.Calculate the gains from trade—that is, the amount by which each country has increased its consumption of each good relative to the first row of the previous table. Enter this difference in the boxes across the last row (labeled "Increase in Consumption").

Answers

Answer:

Country Jeans Corn

Euphoria 5 20 (15 + 20)

Bellissima 8 16 (8 + 48)

Bellisima's opportunity cost:  

Production of corn per million hours of labor = 8 / 16 = 0.5 pairs of jeans Production of jeans per million hours of labor = 16 / 8 = 2 bushels of corn

Euphoria's opportunity cost:  

Production of corn per million hours of labor = 5 / 20 = 0.25 pairs of jeans Production of jeans per million hours of labor = 20 / 5 = 4 bushels of corn

Euphoria has a comparative advantage int he production of corn while Bellisima has a comparative advantage in the production of jeans.

If both countries specialize:

Euphoria will produce 80 million bushels of corn. Bellisima will produce 32 million pairs of jeans.

Total production of corn has increased by 12 million bushels.

Total production of jeans has increased by 9 million pairs.

Assuming that Bellisima trades 18 million pairs of jeans and Euphoria exchanges 54 million bushels of corn, then:

Euphoria's consumption of jeans will increase by 3 million pairs, while their consumption of corn will increase by 6 million bushels. Bellisima's consumption of jeans will increase by 10 million pairs, while their consumption of corn will increase by 6 million bushels.

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