Answer:
$11,220 Unfavorable
Explanation:
As we know that:
Labor Time Variance = Standard rate per hour * (Standard time for actual output - Actual time worked)
Here,
Standard rate per hour= 12.75$
Standard time for actual units = 978 units * 7.1 hour per unit = 6,944 Hours
Actual hours worked are 7,824 hours
By putting the above values, we have:
Labour time variance = $12.75 * (6,944 - 7,824) = $11,220 Unfavorable
Farmers in developing countries claim that the U.S. government, through farm subsidies, is responsible for the artificially low global price of wheat. Because the U.S. government buys whatever wheat American farmers are unable to sell on the open market, American farmers have no incentive to modulate the size of their crops according to the needs of the global market. As a result, American farmers routinely produce more wheat than the global market can absorb and the global price of wheat is kept low. Without these subsidies, the farmers in developing economies claim, American farmers would produce only the amount of wheat that they could sell on the open market and the global price of wheat would rise.
Which of the following, if true, most weakens the claims of the farmers in developing countries regarding the price of wheat?
(A) Wheat that is not processed for consumption is often used for certain industrial applications.
(B) Non-governmental buyers of wheat and wheat products are able to predict how much wheat they will need several years in advance.
(C) The U.S. government offers similar subsidies to soybean farmers, though the global price of soybeans is significantly higher than that of wheat.
(D) Other countries, such as Canada and Russia, are likely to produce more wheat if the United States were to reduce its output.
(E) The price of sorghum, a crop for which the U.S. government offers no subsidies, is lower than that of wheat.
Answer:
Correct Answer:
(D) Other countries, such as Canada and Russia, are likely to produce more wheat if the United States were to reduce its output.
Explanation:
The farmers narrative on the reason on why the price of wheat on the global market is low is justified due to their reason. Unfortunately, that logic would greatly be weaken if the farmers in United States reduces their output while farmers in other countries such as Canada and Russia increases their own output due to incentives from their governments.
This action would still lead to the global price of wheat continually being low.
Gilroy Crackers enjoys a competitive advantage as a cost leader because high demand for its products has allowed it to operate at the minimum efficient scale. Which of the following scenarios would be most concerning to the managers of Gilroy Crackers?
A) Gilroy's leading competitor develops a new low-sodium product.
B) Gilroy's most reliable production worker takes a job in another industry.
C) A major winter storm shuts down Gilroy's production for several days.
D) A wheat shortage raises input costs across the industry.
Answer:
The answer is C. A major winter storm shuts down Gilroy's production for several days
Explanation:
Being a cost leadership means one has a competitive advantage by producing at the lowest cost in the industry. Cost leadership is characterised by company efficiency, size etc.
Gilroy Crackers would be most concerned about a major winter storm shuts down Gilroy's production for several days because Gilroy won't be able to utilize its capacity and the raw materials already bought might turn to a waste through to lack of usage.
Also, some of its needed machineries might have also been rendered useless by the storm.
A multiple-channel queuing system with a Poisson arrival rate and exponential service time has an average arrival rate of four customers per hour and an average service time of 18 minutes per customer. The minimum number of servers required to avoid an overloaded system is
Answer:
1.2
Explanation:
The computation of the minimum number of servers required to avoid an overloaded system is shown below:-
Average service time = Average service time ÷ number of minutes in a hour
18 min = 18 ÷ 60 per hr
= 0.3 hr per customer
Now for four customers, it would be
min servers = 4 × 0.3
= 1.2
So, the correct answer is min servers = 2 as servers cant be in fractions
Therefore we have applied the above formula.
Caroline is an artist. She purchases canvas, paints, brushes, and accessories for $75. She sells one of her original paintings to an art gallery for $1,500, even though an art lover would pay $4,500 for that painting. How much value does Caroline add
Answer:
1.425 dollars of value added
Explanation:
The value of the painting added by Caroline is between the $75 dollar of raw materials and the $1,500 which is the amount at which she sold the canvas in the art gallery.
If, over the course of time the canvas market value increase this will not change the value added by Caroline.
1,500 - 75 = 1.425 dollars
Elinor is asked to invest $5100 in a friend's business with the promise that the friend will repay $5610 in one year. Eleanor finds her best alternative to this investment, with similar risk, is one that will pay her $5508 in one year. U.S. securities of similar term offer a rate of return of 7%. What is the opportunity cost of capital in this case
Answer:
the opportunity cost of capital in this case is 8%
Explanation:
From the information given :
Elinor is asked to invest $5100 in a friend's business with the promise that the friend will repay $5610 in one year.
Eleanor finds her best alternative to this investment, with similar risk, is one that will pay her $5508 in one year.
U.S. securities of similar term offer a rate of return of 7%.
The opportunity cost of capital can be determined by using the expression:
[tex]A = P ( \dfrac{1+r}{100})^n[/tex]
where;
A = amount = $5508
P = Principal = $5100
r = opportunity cost of capital = ???
n = number of years = 1 year
[tex]5508= 5100 ( {1+ \dfrac{r}{100})^1[/tex]
[tex]\dfrac{5508}{5100}= ( {1+ \dfrac{r}{100})^1[/tex]
[tex]1.08 = ( {1+ \dfrac{r}{100})[/tex]
[tex]1.08 = \dfrac{100 + r}{100}[/tex]
1.08 × 100 = 100 + r
108 = 100 + r
r = 108 - 100
r = 8%
Therefore; the opportunity cost of capital in this case is 8%
Samantha is a marketing manager and researcher at a beverage company. Her company plans to launch a new health drink in the market to target athletes. Samantha has assembled a group of 60 local athletes and has given them a topic related to their interests. As the group discusses the topic, Samantha is taking notes. What type of primary research is Samantha using to collect market research data? A. personal interviews B. focus groups C. behavior observation D. mail survey
Answer:
B on PLATO
Explanation:
i got it correct
When an organization with a functional structure diversifies into related product-markets, it generally Multiple Choice maintains its functional structure. develops a divisional structure. develops a matrix structure. develops a worldwide product-division structure.
Answer:
B). Develops a divisional structure.
Explanation:
A functional organizational structure aims to bifurcate the teams or groups on the basis of the functional or specialized area of the employees while a divisional structure organizes the teams in different divisions as per market, product, etc. Therefore, when an organization having a functional structure begins to diversify into product-related markets, it usually develops a 'divisional structure' as it is now focusing on the organization of teams corresponding to the end product or service offered by the organization. Thus, option B is the correct answer.
GeoMines Corp. has the following costs related to a mine it acquired this year. Cost of land and natural resource rights $100,000 Development cost before production begins 20,000 Future cost to restore land after mining 15,000 Equipment used for mining 80,000 Exploration and drilling costs 30,000 What amount should be included as an asset for natural resources
Answer:
$165,000
Explanation:
The cost of an asset is derived by considering every cost related to the purchase of an item and putting the asset to use, These costs include the original purchase price , site preparation ,transportation ,installation and testing , warranties and the future cost of restoring dismantling and restoring the land at the completion of its useful life time.
Looking at the given scenario , the related cost of the natural resources as an asset are the cost of the land and the natural resources , development cost ,future cost of land restoration and the cost of exploration and drilling.
The depreciation value of the equipment used for mining will be charged as an expense for the operation year.
Cost of natural resources = 100,000+20,000+15,000+30,000=165,000
A workstation must produce 200 units an hour. It takes 45 minutes to receive the necessary material for production from the previous workstation. Output is moved between workstations in containers holding 30 units. If the process uses a safety factor of 20%, then the number of kanbans that should be circulating between this workstation and the previous workstation is: Group of answer choices
Answer:
The number of Kanbans circulating between this workstation and the previous workstation is 6 Containers
Explanation:
Given demand = 200 unit / hour
45 minutes between one workstation to another
Container size = 30
Safety factor = 20% = 0.2
Demand during lead time of 45 minutes = 45minute / 60minute * 200 units = 150 units
Number of Kanbans = Demand during lead time ( 1 + Safety factor) / Container size
= 150 (1 + 0.20) / 30
= 150 (1.20) / 30
= 180 / 30
= 6 Containers
Fancy Furniture produced a batch of 2,000 coffee tables at a cost of $355,000. It was discovered that the entire batch was finished improperly. Fancy can sell the tables as seconds for $305,000 or spend an additional $315,000 to refinish them and sell them for $605,000.
Which of the following is not relevant to management's decision regarding refinishing the tables or selling them as is?
a) The additional $300,000 revenue that can be generated if the tables are refinished.
b) The $355,000 manufacturing cost of the tables already incurred.
c) The additional $315,000 cost to refinish the tables.
d) The effect of selling "seconds" on Fancy's reputation as a fine-furniture manufacturer.
Answer:
b) The $355,000 manufacturing cost of the tables already incurred.
Explanation:
The Business has already incurred this expense in making the coffee tables, this can not be done. Therefore, it does not make sense to consider this when considering whether to complete the
Tables, or sell them as they now are
All other points contribute either directly or indirectly to the decision that the company is about to take in this regard.
So, the correct answer is b
A municipal bond dealer buys 100M of 30 year non-callable 9% General Obligation bonds at par less 1 point. After holding the bonds in inventory for a week, the dealer reoffers the bonds on an 8.90 basis. The dealer's approximate profit or loss per bond on this transaction is:
Answer:
gain = $26.24 per bond
Explanation:
trading bonds 100M, means $100,000 in bonds
the trader purchased the bonds at a discount, at 100 - 1.5 = 98.5%
the coupon rate is 9%, if the bonds are sold at 8.9%, then they will be sold at a premium.
to try to determine an approximate selling price = 9%/8.9% = 1.01123
profit per bond = sales price - purchase price = ($1,000 x 1.01123) - ($1,000 x 0.985) = $1,011.24 - $985 = $26.24 per bond
total profit = $26.24 x 100 = $2,624
Jon had adjusted gross income of $25,000 in 2019. During the year, he incurred and paid the following medical expenses: - Drugs and medicines prescribed by doctors $300 - Health insurance premiums $750 - Doctors' fees $2,250 - Eyeglasses $75 Jon received $900 in 2019 as a reimbursement for a portion of the doctors' fees. If Jon were to itemize his deductions, what would be his allowable medical expense deduction after the adjusted gross income limitation is taken into account?
Answer:
The allowable medical deduction after Adjusting Total Income is $0
Explanation:
Particulars Amount
Drugs and Medicines prescribed by doctors $300
Add:- Health insurance premium $750
Add:- Doctors Fees $2,250
Add:- Eyeglasses $75
Less:- Reimbursement of doctors fees received ($900)
$2,475
Less :- Adjusted Gross Total Income of $25,000 $2,500
Allowable medical deduction after adjusting -25
total Income
Therefore, as the resultant amount is negative. The allowable medical deduction after Adjusting Total Income is $0
Workings
Adjusted Gross Total Income of $26,000
= $26000 × 10%
= $2,600
With the impending retirements of very talented senior staff, Katherine was concerned that PTO Inc., her employer, was not planning for the future. Spurred on by her concern, Katherine convinced management to budget and build a knowledge management system to create, acquire, store, and transfer knowledge in order to modify PTO's behavior to reflect new knowledge and insights. Two years later, Katherine was proud to reflect on her success in helping the company become a(n) ________ organization.
Answer:
Learning.
Explanation:
Since the very talented senior staff would be retiring soon, Katherine was concerned that PTO Inc., her employer, was not planning for the future. Spurred on by her concern, Katherine convinced management to budget and build a knowledge management system to create, acquire, store, and transfer knowledge in order to modify PTO's behavior to reflect new knowledge and insights.
Two years later, Katherine was proud to reflect on her success in helping the company become a learning organization.
A learning organization is an organization that acquires knowledge very quickly or rapidly, so it can be innovative and have a competitive advantage over other organizations in the same industry. It is characterized by the rapid acquisition, sharing, and use of information by its employees.
A questionnaire is an example of push marketing pull marketing primary market research secondary market research
Answer:
push
Explanation:
A tenant’s broker knows that his client (the tenant) has recently lost his job and that his financial situation is less than perfect. The tenant is interested in a landlord’s property but the rent is so high the broker does not think the tenant would be able to afford it for very long. Can the broker tell the landlord about the tenant’s financial situation?
Answer:
Yess, the broker tell the landlord about the financial situation of the tenant.
Explanation:
The reason is that the broker acts as an agent and its agent's fiduciary duty to act in the best interest of its principle. The duty of care owed by the agents to principle must not be breached because the breach of duty of care would affect the principle in the form of financial or non financial loss or losses. As the tenant is financially strugling to meet his both ends and that the rent is significantly high. The chances exist that the tenant will not be able to pay rentals in the near future which will affect the landlord. Hence the broker must tell the landlord about the tenant's financial position.
Jonathan is a blind widower whose home is valued at $110,000. He is homesteaded and under 65. His School taxes are 10.23 mils, his county taxes 6.789 mils, and his city taxes are 8.78 mils. What are his annual taxes?
Answer:
Jonathan's taxes depend on which state he lives in. Generally, widowers (male spouses who lost their wife while still married) are eligible for a homestead exemption, but the amount varies depending on the state.
For example, if Jonathan lives in Florida, the homestead exemption is up to the first $50,000, but in Texas it only includes the first $25,000.
Assuming that Jonathan lives in Florida, he can use his homestead exemption to reduce both his city and county taxes by $50,000:
city taxes = [($110,000 - $50,000) / $1,000] x 8.78 = $526.80county taxes = [($110,000 - $50,000) / $1,000] x 6.789 = $407.34the homestead exemption is reduced by half for school taxes:
school taxes = [($110,000 - $25,000) / $1,000] x 10.23 = $869.55total real estate taxes = $1,803.69
Rebecca Siddoway own and operate Country Candies. Siddoway specializes in making rich, creamy toffees that she packages in attractive gift boxes and sells through the mail. What would her first step be if she decides to incorporate her business to make it easier to find investors?
Answer:
To write the articles of incorporation
Explanation:
An article of incorporation involves a set of documents being filed with the government or a government body with respect to the legal documentation or registration or establishment of a corporation.
Also known as the certificate of corporation, it usually contains general and important information about the corporation. This information includes name of company, type of company, business of the company, the type of stock to be issued, etc.
As regards Rebecca Siddoway, writing an article of incorporation means her company, Country candies has been formally and legally registered with the government. This will attract investors as the certificate of corporation will serve as a show of commitment on the part of the firm as well as the confidence that the company is not trying to swindle him or her.
Cheers
If the world price of a good is below its domestic price, the country will: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices import that good. export that good. put a price floor on that good. have a surplus of that good.
Answer:
import that good
Explanation:
International trade involves the exchange of goods and services between countries.
Due to comparative advantage that some countries have in producing goods they incur less cost than other countries when manufacturing such goods.
In the give scenario where world price of a good is below its domestic price, the country does not have comparative advantage in producing the good. Their cost of production is higher than world price.
The best option will be to import the good. This will save the country high cost of production locally
A property buyer should object to any defects in the title to the property A) within one year of the transfer of title. B) before acceptance of the deed. C) before recording the deed from the seller. D) no later than 90 days of the recording of the deed from the seller.
The correct answer is B) Before acceptance of the deed.
Explanation:
The deed is a legal document that ratifies the ownership of a property; in this way, the document is used in the process of buying a property to show the buyer is the new owner. Besides this, once the deed is accepted and signed the property does not belong to the original owner, and therefore, she/he has not any responsibility related to the title. This means after the deed the buyer cannot object any defects in the title. Thus, any objections or new conditions in the process of buying the property should occur before acceptance of the deed.
A property buyer should object to any defects in the title of the property before the acceptance of deed leading to a contract. So, the correct option that matches with the above statement is B.
After the deed for such property has been accepted by both the parties the contract becomes valid from such date of acceptance. If any defect is to be objected, it would not bring into the seller's liability.
A contract becomes valid after it is accepted by both the parties to a contract and if there is any objection made after such acceptance it will not be void ab initio to the conditions of contract.The liability of the title of the property becomes transferrable in the hands of the buyer of the goods as soon as the conditions of the deed are fulfilled.The acceptance of the deed will be assumed by the seller to the defects been accepted by the buyer as it is the duty of the buyer to check all the factors of the property.Hence, the correct statement is B that the defects to the title of the property shall be able to be objected by the buyer only before the acceptance of such property.
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Assume that the Fitzgerald Corporation uses the indirect method to depict cash flows. Indicate where, if at all, a stock dividend declared and issued would be classified on the statement of cash flows.
a. Does not represent a cash flow.
b. Financing activities section.
c. Investing activities section.
d. Operating activities section.
Answer:
b. Financing activities section.
Explanation:
Paid dividends are part of the financing activities of a cash flow statement since they affect the company's paid in capital. This section also includes any stocks issued or repurchased, as well as any changes in the company's long term debts. The company's statement of cash flows generally begins with operating cash flows, then investing cash flows and finally financing cash flows.
Q 6.19: Switzer, Inc. has 8 computers which have been part of the inventory for over two years. Each computer cost $600 and originally retailed for $900. At the statement date, each computer has a current replacement cost of $400. What value should Switzer, Inc., have for the computers at the end of the year
Answer:
The value of computer at the end of year is $3200
Explanation:
Total number of computers = 8
The original cost of computers = $600 per computer.
Original retailed = $900
The replacement cost = $400
Since the replacement cost of the market value is $ 400. Therefore, the value of all computers can be calculated by multiplying the $400 with the number of units.
The value of computer at the end of the year = $400 × 8 = $3200
he following production data were taken from the records of the Finishing Department for July: Inventory in process, July 1, 30% completed 5,000 units Transferred to finished goods during July 40,500 units Ending work in process during July, 40% completed 4,000 units Determine the total equivalent units for conversion costs, assuming that the first-in, first-out method is used to cost inventories. Assume that all direct materials are placed in process at the beginning of production.
Answer:
The total equivalent units for conversion costs is 40,600.
Explanation:
Under the first-in, first-out method, units that were incomplete for last year are the first to be completed, followed by units started during the year.
Calculation of the total equivalent units for conversion costs :
To Finish Opening Work In Process (5,000 × 70%) = 3,500
Started and Completed ((40,500 - 5,000) × 100 %) = 35,500
Closing Work In Process ( 4,000 × 40%) = 1,600
Total equivalent units for conversion costs = 40,600
Conclusion :
The total equivalent units for conversion costs is 40,600.
A 70-year-old male pays $79.79 per month for his term life policy while an 80-year-old pays $349.30 per month. What is the percent of increase in premium costs from age 70 to age 80?
Answer:
337%
Explanation:
The percent of increase in premium costs from age 70 to age 80 is 337.77%.
Percentage based problem:What information do we have?
Amount paid in 70's age = $79.79
Amount paid in 80's age = $349.30
Extra amount paid in 80's age = $349.30 - $79.79
Extra amount paid in 80's age = $269.51
Percentage increase = [269.51 / 79.79]100
Percentage increase = [3.377]100
Percentage increase = 337.77% (Approx.)
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You have been selected to be part of the buying center for a new golf club collection to be resold by your company. You both agree to the product specifications and negotiate the terms of the purchase agreements with the club manufacturer, so you are the
Answer:
B. buyer.
Explanation:
In this specific scenario, you would be the buyer. This can be deduced from the phrase stating "You both agree to the product specifications and negotiate the terms of the purchase agreements" in the question. Meaning that you have gone over all the details and accepted to purchase the product from the club manufacturer, thus making you the buyer in this specific situation while the club manufacturer is the seller.
Austin was often late to work, despite his manager, Ben, warning him against it several times. As a last resort, Ben reduced Austin's salary in proportion to the hours he missed at work by being late. It turned out to be the right thing to do as Austin was never late to work after the incident. Which of the following best explains this scenario?
a. positive reinforcement
b. negative reinforcement
c. instrumentality
d. valence
Answer:
b. negative reinforcement
Explanation:
Negative reinforcement refers to the response that helps in eradicating or removing certain behaviors in the individual. Some discomforting or disturbing action is taken that helps in the enhancement of a behavior.
In the given excerpt, Austin's behavior of coming late to the office is removed when his manager, Ben applied negative reinforcement. When Austin's salary was deducted because of being late at the office, helped him of improving his nature.
A church put advertisements in its weekly bulletins to encourage its members to participate in the services by telling a brief, positive story about how fellow members have helped them during times of need. Jack volunteered and shared his story during a service. Afterwards, he felt joyous. Was this an exchange in a marketing sense
Answer: Yes
Explanation: In the scenario shared above, an element of exchange exists which is the key aim of marketing by providing a trade platform for consumers and sellers to coexist and make exchange of goods and services for money, satisfaction or other things in return. In the scenario above, the church provided a marketing platform for people to share their thought and air their views. Jack made use of the platform and shared his thought and had a feeling of satisfaction and church members also read in other to learn or derive pleasure and the cycle continues.
The concentration ratio provides a measure of the extent to which an industry Question 63 options: produces a useful product. is dominated by a small number of firms. is earning economic profits. is earning accounting profits.
Answer:
"The concentration ratio provides a measure of the extent to which an industry is dominated by a small number of firms.
Explanation:
Let us assume that there are 20 firms in the paper milling industry with a total sales of $40 billion per annum. From these 20 firms, 4 firms have annual sales totalling $25 billion. With these assumptions made, we can calculate the concentration ratio as the "Annual sales of the 4 firms divided by the Industry's annual sales, and then multiplied by 100." Our calculation produces a concentration ratio of 62.5%. This concentration ratio shows the dominance of these four firms in the paper milling industry. The remaining 16 firms control 37.5% (100% - 62.5%) of the annual sales in the industry. This examples explains what a concentration ratio is and how the calculation can be carried out.
Effective managers should: increase the amount of conflict among employees. remove all forms of conflict from the organization, because it saps productivity. remove manifest conflict as well as negative conflict outcomes even though the sources of conflict remain in place. convince employees to engage in relationship conflict rather than the other forms of conflict. minimize the relationship conflicts that exist in the organization.
Answer:
minimize the relationship conflicts that exist in the organization.
Explanation:
Relationship conflict is a type of conflict that occurs as a result of personality clashes due to different personalities or negative emotional interactions. An effective manager ought to minimise it.
Not all forms of conflicts should be eliminated because some forms of conflicts can be beneficial to the organisation. For example, constructive conflicts helps employees to know new views, opinions and ways of doing things.
Eliminating manifest conflict without addressing the root cause of the conflict would not bring lasting solution
Aspen, Inc. developed a new horse transport device and incurred research and development costs of $250,000. Rather than continue with their own research, Aspen decided to purchase a patent for a similar design from Vail, Inc. for $350,000. What are the total assets and expenses for these developments
Answer:
Total assets= $350,000
Total expenses= $250,000
Explanation:
Aspen incorporation developed a new horse transport device
During the period of the research and development of this transport device a lot of costs were incurred
Expenses can be described as the amount of money that is spent by a company inorder to generate profit
In the scenario described above, Aspen incorporation incurred $250,000 during the period of the transport device development
Hence the total amount of expenses is $250,000
Patent can be described as a type of intangible assets that, although this type of assets is a bit hard to estimate it's value, it is still grouped as an asset.
It is a full right that is given to an organisation, it gives them complete control and access to manufacture or produce a particular product for a long time.
In the scenario described above, Aspen purchased an identical design from Vail incorporation for $350,000
Hence the total assets is $350,000
Loan X has a principal of $10,000x and a yearly simple interest rate of 4%. Loan Y has a principal of $10,000y and a yearly simple interest rate of 8%. Loans X and Y will be consolidated to form Loan Z with a principal of $(10,000x + 10,000y) and a yearly simple interest rate of r%, where r = (4x+8y)/(x+y). In the table, select a value for x and a value for y corresponding to a yearly simple interest rate of 5% for the consolidated loan. Make only two selections, one in each column.
..........X..........Y..........Value
(A)..............................21
(B)..............................32
(C)..............................51
(D)..............................64
(E)..............................81
(F)..............................96
Answer:
X = 96 and Y = 32
Explanation:
Data provided in the question
X amount = 4%
Y amount = 8%
Now based on this the equation is
r = (4x + 8y) ÷ (x+y)
Now put 5% at the rate place
The x and y is
5 = (4x + 8y) ÷ (x + y)
5x + 5y = 4x + 8y
x = 3y
Now looking the options as we can see that if X = 96 so Y would be 32
Therefore X = 96 and Y = 32