Answer:
25.55 days
Explanation:
first we must calculate the accounts receivable turnover ratio = net sales / average accounts receivable
net sales = $1,000,000
average accounts receivable ($80,000 + $60,000) / 2 = $70,000
accounts receivable turnover ratio = $1,000,000 / $70,000 = 14.286
average collection period = 365 days / accounts receivable turnover ratio = 365 / 14.286 = 25.55 days
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type
Structural
Frictional
Cyclical
Lucia just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal.
Kenji recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.
Sharon is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Unemployment Type Rate
(Percent)
Frictional 1.0
Cyclical 0.0
Structural 3.1
Total unemployment 4.1
This economy is not currently at full employment.
a. True
b. False
Answer:
Lucia just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal. - Frictional
Frictional unemployment includes those people who are in between jobs, like Lucia. These are people who are recently unemployed and are expected to find employment soon, because their skills are wanted.
Kenji recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. - Structural
Kenji does not have enough skills, or is not productive enough, to be hired at any wage set above or equal to the minimum wage. Kenji will have to increase his skills in order to get hired, thus, he is in structural unemployment.
Sharon is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job. - Cyclical
Cyclical unemployment corresponds to unemployment that is directly related to economic cycles, hence the name. When the economy is in a downturn, this type of unemployment rises, and when the economy is expanding, this type of unemployment falls.
Sharon is unemployed because the real estate market in her area is in recession.
This economy is not currently at full employment. b. False
Full employment occurs when the unemployment rate is at the natural rate, which is the sum of frictional and structural unemployment. This means that for an economy to at full employment, cyclical unemployment must be zero, as it is the case in this question.
ABC issues $10 million in bonds on January 1, 2018. The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 1/1/2018 $8,640,967 6/30/2018 $300,000 $345,639 $45,639 8,686,606 12/31/2018 300,000 347,464 47,464 8,734,070 6/30/2019 300,000 349,363 49,363 8,783,433 12/31/2019 300,000 351,337 51,337 8,834,770 What is the stated annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six month rate. (round to nearest whole percentage, just put in the number with no %)
Answer:
6%
Explanation:
Calculation of the stated annual rate of interest on the bonds
Using this formula
Annual rate of interest = (Cash paid /Bonds Amount)× 2 payments per year
Where,
Cash paid=$300,000
Bonds amount =$10,000,000
Let plug in the formula
Annual rate of interest=($300,000/$10,000,000) × 2 payments per year
Annual rate of interest= 0.03×2 payments per year =6%
Note the 2 payment per year is June 30 and December 31
Therefore stated annual rate of interest on the bonds will be 6%
Joe's Jalopies sold one of its warehouses for $300,000 cash plus a tractor with a fair market value of $25,000. The building had a mortgage against it for $50,000 that was assumed by the buyer and an adjusted basis of $130,000. Joe's had to pay $20,000 in sales commissions to the Realtor who coordinated the sale. What is the amount realized by Joe's Jalopies
Answer:
$355,000
Explanation:
Joe's jalopies sold one of its warehouse for $300,000 and a tractor that has a fair market value of $25,000
The warehouse had a mortgage of $50,000 against it.
The adjusted basis was $130,000
Joe had to make a payment of $20,000 in sales commission to the realtor
Therefore, the amount realized by Joe's jalopies can be calculated as follows
=$300,000+$25,000+$50,000-$20,000
= $375,000-$20,000
= $355,000
Hence the amount that was realized by Joe's jalopies is $355,000
A non-discriminating monopolist will find that marginal revenue:
A. Exceeds average revenue or price
B. Is identical to price
C. Is sometimes greater and sometimes less than price
D. Is less than average revenue or price
Answer:
is less than average revenue or price
Vernon Inc. would like to set the best price for a new product. The firm conducts an experimental study by selling the new product at two different prices in two different locations keeping other factors constant to see if a lower price results in better sales. This is most likely an example of ________ research.
When the firm conducts an experimental study by selling the new product at two different prices in two different location, this is most likely an example of casual research.
What is casual research?A causal Research refers to type of conclusive research a research that want to establish a cause and effect relationship between two or more variables in order to draw a conclusion.
Hence, the type of research done by the firm is an example of causal research.
Read more about casual research
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Suppose you are the Purchasing Manager for a large chain of restaurants in the United States, and you need to make your semiannual purchase of tea. You pay $1,500,000 for a shipment of tea from an Indian tea producer.
(1) What is the impact of this purchase on US imports and capital flows?
(2) What is the impact of this transaction on US net exports?
Answer with Explanation:
Requirement 1.
The US import will increase by $1,500,000 due to purchase of indian tea product and this import of tea would result in increase of capital outflow as the Net export particular to importation is negative hence capital outflow is genuine effect.
Requirement 2.
The Net exports can be calculated as under:
Net Exports = Exports - Imports = 0 - $1,500,000 = - $1,500,000
The US Net Exports would decrease by $1,500,000.
Ringler Corporation exchanges one plant asset for a similar plant asset and gives cash in the exchange. The exchange is not expected to cause a material change in the future cash flows for either entity. If a gain on the disposal of the old asset is indicated, the gain will
Answer:
Explanation:
In this scenario, If a gain on the disposal of the old asset is indicated, the gain will effectively reduce the amount to be recorded as the cost of the new asset. This is because the old asset was exchanged but Ringler Corporation still had to spend some money during the transaction to acquire the new asset, therefore any gain on the disposal of the old asset will ultimately recover some of those costs thus reducing the recorded cost.
Scott Company sells merchandise with a one-year warranty. Sales consisted of 2,500 units in Year 1 and 2,000 units in Year 2. It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will be made in Year 1 and 70% in Year 2 for the Year 1 sales. Similarly, 30% of repairs will be made in Year 2 and 70% in Year 3 for the Year 2 sales. In the Year 3 income statement, how much of the warranty expense shown will be due to Year 1 sales?
Answer:
$0
Explanation:
Scott Company must record the warranty expense and liability regarding the products sold during the years that they occur. For example, the following journal entry must be made to record the warranty expense for year 1:
Dr Warranty expense 25,000
Cr Warranty liability 25,000
During year 2, they will record the warranty expense for that year:
Dr Warranty expense 20,000
Cr Warranty liability 20,000
That means that during year 3, the only warranty expense recorded will be the one related to the goods sold during that year.
Suppose first main street bank, second republic bank, and third fidelity bank all have zero excess reserves. the required reserve ratio is 20%. the federal reserve buys a government bond worth $1,500,000 from hubert, a client of first main street bank. he deposits the money into his checking account at first main street bank.
Complete Question:
Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 20%. Hubert, a client of First Main Street Bank, deposits $1,500,000 into his checking account at First Main Street Bank.
Complete the following table to reflect any changes in First Main Street Bank's T-account (before the bank makes any new loans).
Answer:
Dr Assets Reserves $1,500,000
Cr Liabilities Deposits $1,500,000
Explanation:
When the bank borrowed $1.5 million, it increased its cash reserves and the liability with the same amount. The increase in the assets side of T-account was $1,500,000 which increased the bank reserves and the increase in the liability side of the T-account was also $1,500,000 which increased the demand deposits.
The addition of reserves means that the bank can make loans to borrowers and earn interest on it. Likewise, the demand deposit can be withdrawn if Hubert wants to withdraw the amount because the bank is the borrower.
The double entry would be as under:
Dr Assets Reserves $1,500,000
Cr Liabilities Deposits $1,500,000
Coercive power is the Multiple Choice power exercised by use of fear of punishment for errors of omission or commission by employees. power of persuasion exercised by a charismatic leader to get compliance from reluctant subordinates. arises from manager access, control, and distribution of information that is not freely available to everyone in an organization. ability of the leader or manager to confer rewards for positive behaviors or outcomes.
Answer:
power exercised by use of fear of punishment for errors of omission or commission by employees.
Explanation:
Coercive power is characterized because the use of force to get a worker to obey an order or command, where control comes from one's right to threaten the employee for non - adherence. Like that this power is in place when a person worked an order in fear of losing their job or their benefits package.
Answer:
the power exercised by use of fear of punishment for errors of omission or commission by employees
Explanation:
In simple words, Coercive control is characterised as the utilization of coercion to compel an individual to obey a directive or command, whereby power derives with one's right to discipline the worker for violations. Of instance, this control is in place when an individual performs an instruction in fear of being attacked or their signing income.
Thus, from the above we can conclude that the correct option is A.
(n) ____________ consists of the marketing intermediaries that transport and store goods as they move through their path from producer to final user.hat assist in the movement of goods and services from producer to industrial and consumer users are known as
Answer:
Channel of distribution
Explanation:
Channel of distribution consists of the marketing intermediaries that transport and store goods as they move through their part from the producer to final user.These channels include the distributors , wholesalers ,retailers and the internet.
The main purpose of the channel of distribution is to connect production to consumption and also to create time , place and possession utilities which constitutes the added value of production.
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,000 defective units that cost $5.40 per unit to manufacture. The units can be a) sold as is for $2.80 each, or b) reworked for $4.60 each and then sold for the full price of $8.20 each. What is the incremental income from selling the units as scrap and reworking and selling the units
Answer:
Incremental income for Sale as scrap is $36,400 and Rework is $46,200
Explanation:
Sale as scrap Rework
Sales of reworked units (13000*8.2) $106,000
Sales of scrap units (13000*2.8) $36,400
Cost to rework units (13000*4.6) ($59,800)
Opportunity cost of not making new units
Incremental income (loss) $36,400 $46,200
Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead rate for allocating overhead to products. However, management is considering moving to a multiple department rate system for allocating overhead. Overhead Total Direct Labor Hours DLH per Product A B Painting Dept. $241,200 11,300 2 11 Finishing Dept. 60,900 11,800 3 3 Totals $302,100 23,100 5 14 The single plantwide factory overhead rate for Adirondack Marketing Inc. is
Answer:
Predetermined manufacturing overhead rate= $17,115.80
Explanation:
Giving the following information:
Overhead Total Direct Labor Hours DLH per Product A B
Painting Dept. $241,200 11,300 2 11
Finishing Dept. 60,900 11,800 3 3
Totals $302,100 23,100 5 14
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Total direct labor hours= 5 + 14= 19
Total overhead= 302,100 + 23,100= $325,200
Predetermined manufacturing overhead rate= 325,200/19
Predetermined manufacturing overhead rate= $17,115.80
In terms of the global marketplace, there are three primary types of companies: international firms, multinational firms, and transnational firms. The key factor that distinguishes one from another is
Answer: the firm's orientation toward and strategy for global markets and marketing.
Explanation:
The options to the question are:
A. the firm's financial capacity to take risks.
B. the willingness and ability to embrace diversity.
C. the firm's orientation toward and strategy for global markets and marketing.
D. the relative position of the product or service in terms of its life cycle.
E. the relative size of the firm both in financial terms and in production capacity.
International firms are the firms that have their headquarter in a particular country but still maintain vital investments outside that particular country.
A multinational company is a company that has factories in different parts of the world but has centralized head office. The centralized head office handles the global management.
A transnational firm is a firm that does business in several countries and does not consider any country its home.
The key factor that distinguishes one from another is the firm's orientation toward and strategy for global markets and marketing.
what do firms get from households
Answer:
Households supply labor to firms and are paid wages in return. Firms use that labor to produce pizzas and sell those pizzas to households. There is a flow of goods (pizzas) from firms to households and a flow of labor services (worker hours) from households to firms.
Explanation:
. In one year, Hitech Microdevices will pay a common stock dividend of $4.35. You predict that you will be able to sell your Hitech stock for $57 per share after 1 year. If you require a rate of return of 16 percent on Hitech stock, how much would you be willing to pay now for a share of the stock?
Answer:
$52.89
Explanation:
To calculate the present value of a stock, we use the formula,
D + E
(1 + R)^Y
where, D = expected dividend, $4.35
E = expected stock price, $57
R = real rate of return, 16% or 0.16
Y = Number of years, 1
we have,
$4.35 + $57
(1 + 0,16) ^1 = $61.35 ÷ 1.16
= $52.887 ≈ $52.89.
The present value of the stock is $52.89.
Cheers.
The exchange rate is: the price of one nation's currency in terms of the currency of another nation. the amount households will spend on imports. the amount of foreign capital a nation receives when there is a trade surplus. the amount charged by bankers for loanable funds
Answer: the price of one nation's currency in terms of the currency of another nation.
Explanation: The rate of exchange can simply be explained as the worth or value of a country's currency in terms of the currency of another country. It gives an aggregate amount of the value of currency held by a certain person or spent in a particular country in terms of the currency of choice in another country. The exchange rate of currencies is usually determined by the market forces of demand and supply even though some aren't. For example, the rate at which one can convert a certain amount of British pounds to it's equivalent amount in U.S dollar is the exchange rate of British pounds to U.S dollars.
Carolina, the accountant for Duke Manufacturing, tells her friend, Jacob, who works in customer service for Duke, that she is writing journal entries to transfer costs to products. Carolina is referring to the
Answer:
cost allocation process
Explanation:
Cost allocation process is the process of identifying and allocating cost to products. These products in which the cost are assigned are products in which they want to measure how much was spent to produce the product and the profit incurred form that product. Normally cost allocation process is based on approximations, it can only be done to be as close as possible to the incurred cost
____________ tend to focus on the logical soundness and preciseness of ideas, rather than the ideas’ practical values; they tend to work in research and planning units.
A. Convergers
B. Divergers
C. Assimilators
D. Accomodators
Answer:Assimilitors
Explanation:
The assimilators are the individuals who depend on the reflective observation and conceptualization on abstracts.
These are the set of individuals who seems to more concerned about the abstract ideas and concepts rather than concerned about about other people. The assimilators also focus on how precise and logically sound an idea is, rather than focusing on the practical values of the ideas. .
You own a franchise of rental car agencies in Florida. You recently read a report indicating that about 80 percent of all tourists visit Florida during the winter months in any given year, and that 60 percent of all tourists traveling to Florida by air rent automobiles. Travelers not planning ahead often have great difficulty finding rental cars due to high demand. However, during nonwinter months tourism drops dramatically and travelers have no problem securing rental car reservations. Determine the optimal pricing strategy for this situation. Block pricing Peak-load pricing Randomized pricing Two-part pricing
Answer:
Peak-load pricing
Explanation:
Prices are set in a way that high sales turnover are attracted and profit maximized. This makes it necessary for market situation to be studied and analysed during price setting for best pricing decision.
The optimal pricing situation for the situation in the scenario is Peak - load pricing.
In Peak-load pricing , higher prices are charged when demand is at its peak with few competitors in the market , and the price is dropped when the market suffers a drop in demand of such goods,
The aim to to take an advantage of the peak period in making a maximum income.
Which of the following statements are true of middlemen? Agent middlemen provide sales records and customer information. Only an agent middleman can offer both import and export services. Merchant middlemen increase the seller's credit risk. The main goal of merchant middlemen is to increase sales and profits on their merchandise.
Answer:
The main goal of merchant middlemen is to increase sales and profits on their merchandise.
Explanation:
An agent middleman is different form a merchandise middle man as merchants are the intermediates that buy and sell the products or merchandise with their own name and make a return of profit out of it. They also take ownership of their product. Agent middlemen can specialize in different types of products and make their money commission.The campus barber faces stiff competition from the large number of shops that surround the campus area, and for all practical purposes the market is perfectly competitive. He charges $10 for a haircut and cuts hair for 18 people a day. His shop is open for 5 days a week.
Calculate his weekly total revenue $__.
Calculate his average revenue per haircut $__.
Calculate his marginal revenue per haircut. $__.
Answer:
$900
$10
$10
Explanation:
A perfect competition is characterised by many buyers and sellers of homogeneous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
In a perfect competition, price = marginal revenue = average revenue
if price is $10, marginal and average revenue is $10.
total revenue = price per haircut x total number of people he attends to in a week.
total number of people he attends to in a week = 18 x 5 = 90
Total revenue = $10 x 90 = $900
Risk management refers to the practice of identifying potential risks in advance, analyzing them and taking precautionary steps to reduce or curb the risk.
Answer:
True
Explanation:
Risk management is the practice of identification of number of risks that the organization faces and then assessing each of them. After assessment of the risks, the organization try to find ways to eliminate or reduce each single risk so that the business operations do not get affected. The precautionary measures can be simply avoid the risk, face the risk, share the risk (Insurance) and reduce the risk to acceptable level.
31. People might withdraw money from interest-bearing accounts,
a. making the interest rate fall, if there is a surplus in the money market.
b. making the interest rate rise, if there is a surplus in the money market.
c. making the interest rate fall, if there is a shortage in the money market.
d. making the interest rate rise, if there is a shortage in the money market.
Answer:
The correct answer is D. People might withdraw money from interest-bearing accounts, making the interest rate rise, if there is a shortage in the money market.
Explanation:
In case of a shortage of money in the economy, where people who need to consume and produce do not have immediate liquid money to carry out their economic activities, individuals will withdraw the money invested in their accounts to have cash to cover their immediate needs. Thus, the level of money in circulation will increase, but at the same time the liquidity of investment accounts will fall, with which banks will tend to raise interest rates to recover investors and therefore cover the losses in their accounts.
If throughout an accounting period the fees for legal services paid in advance by clients are recorded in an account called Unearned Legal Fees, the end-of-period adjusting entry to record the portion of those fees that has been earned is
Answer:
e. Debit Unearned Legal Fees and credit Legal Fees Earned.
Explanation:
As we know that unearned legal fees contain a credit balance as it is a liability
Now if the portion of an unearned legal fees is earned so the portion of it would be debited and on the other side the legal fees is credited
The journal entry is shown below:
Unearned legal fees Dr XXXXX
To Legal fees earned XXXXX
(Being the adjusting entry is passed)
Hence, the correct option is e.
Q 9.17: Martha Beyerlein Company incurred $150,000 of research and development costs in its laboratory to develop a patent granted on January 2nd, 2017. On July 31st, 2017, Beyerlein paid $35,000 for legal fees in a successful defense of the patent. The total amount debited to Patents through July 31st, 2017, should be
Answer:
$35,000
Explanation:
The computation of the total amount debited to patent is shown below:
The Patent refers to the intellectual property in which the person has the right to stop the other people by using or making their creation
Here the $150,000 is spent on the research and development while the $35,000 is spent on legal fees
So the total amount debited should be $35,000 only so that the patent could be obtained
" One of the difficulties in measuring the effectiveness of IMC efforts is the _______________, where consumers do not act immediately after receiving a marketing communication. Group of answer choices"
Answer:
lagged effect
Explanation:
Integrated marketing communication is one that involves the use of all form of communication to obtain a more effective promotion by a company.
The use of combination of promotion tools gives a better effect than each one in isolation.
A major difficulty in measuring IMC is the lagging effect.
Lagging effect is the difference in time between when marketing effort is made and when customers respond to these efforts.
For example consumers do not act immediately after receiving a marketing communication.
In an ad for Pluto's superior sun protection moisturizer, a dermatologist's report states, "A year of incidental sun equals baking for a week at the beach!" This is an example of a(n) _____ style of execution.
Answer: Technical evidence
Explanation:
From the question, we are informed that an in an advertisement for Pluto's superior sun protection moisturizer, a dermatologist's report states that "a year of incidental sun equals baking for a week at the beach!"
The dermatologist report is an example of an example of a technical evidence style of execution. This is an evidence from an expert in the field regarding skin and he gave a fact in the advertisement.
Assume a firm's resources and capabilities are costly to imitate. This is because rival companies do not clearly understand the relationship between the resources and capabilities controlled by the firm. In this case, the firm's competitive advantage is protected against imitation by causal ambiguity. dependence complexity. social complexity. path dependence.
Answer:
Option A (Causal ambiguity) is the correct choice.
Explanation:
Causal ambiguity seems to be the circumstance in which it would be difficult to properly link the results or potential impact of some kind of occurrence including its initial values as well as triggers in strategic decisions and therefore in the formulation of strategy.A category of instruments used throughout economic analysis to assess the competitive advantage of a firm is very much at its fingertips.The other given choice are not related to the given instance. So that option would be the appropriate choice.
In this case, the firm's competitive advantage is protected against imitation by causal ambiguity. Thus, option C is appropriate.
According to Einhorn and Hogarth (1986), causal ambiguity is a state of uncertainty that includes a lack of understanding and knowledge. However, performance turns into a matter of luck rather than strategy if no one within or outside of an organization is aware of the causal relationships between resources, activities, and outcomes.
A lack of comprehension of resource-competitive advantage cause-and-effect connections is referred to as causal ambiguity. Imitability is constrained by causal ambiguity.
Causal ambiguity simply means that it's not quite evident where your benefit came from.
Thus, option C is correct.
Learn more about the Causal ambiguity here:
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Purves Corporation is using a predetermined overhead rate that was based on estimated total fixed manufacturing overhead of $121,000 and 10,000 direct labor-hours for the period. The company incurred actual total fixed manufacturing overhead of $113,000 and 10,900 total direct labor-hours during the period. The predetermined overhead rate is closest to
Answer:
Predetermined manufacturing overhead rate= $12.1 per direct labor hour
Explanation:
Giving the following information:
Estimated total fixed manufacturing overhead= $121,000
Estimated direct labor hours= 10,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 121,000/10,000
Predetermined manufacturing overhead rate= $12.1 per direct labor hour