Suppose a union successfully negotiates an increase in the wages of workers producing computer chips. This would lead to (a decrease, an increase) in the supply of computers, causing the price of computers to (rise, fall) . Because computers and computer software are (substitutes, complements) , this change in price would cause the demand for computer software to (increase, decrease) . However, computers and typewriters are (substitutes, complements) , so the change in the price of computers would (decrease, increase) the demand for typewriters.

Answer:

Decrease

rise

complements

decrease

substitutes

increase

Explanation:

As a result of the increase in wages would lead to an increase in the cost of production and as a result a fall in supply. As a result of the fall in supply, the price of computers would rise.

Complement goods are goods that can be used together. computers and computer software are used together. As a result of the rise in price of the computers, which would lead to fall in demand for computers, there would be less demand for the software. So, the demand for software would fall.

Substitute goods are goods that can be used in place of another good. A rise in price of computers would lead to a rise in demand for typewriters.

Rustafson Corporation is a diversified manufacturer of consumer goods. The company's activity-based costing system has the following seven activity cost pools:

Activity Cost Pool Estimated Overhead Cost Expected Activity
Labor-related $31,200 5,000 direct labor-hours
Machine-related $1,250 5,000 machine-hours
Machine setups $36,000 1,200 setups
Production orders $18,000 500 orders
Product testing $22,000 1,100 tests
Packaging $42,900 3,900 packages
General factory $56,000 5,000 direct labor-hours

Required:
a. Compute the activity rate for each activity cost pool.
b. Compute the company's predetermined overhead rate, assuming that the company uses a single plantwide predetermined overhead rate based on direct labor-hours.

The bookkeeper for Wildhorse Co. asks you to record the following accrual adjustments at December 31 in the tabular summary that follows. (If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign (or parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.)
(a) Interest on notes payable of $350 is accrued.
(b) Services performed but unbilled totals $1,850.
(c) Salaries of $700 earned by employees have not been recorded.
Assets Liabilities Stockholders' Equity Accounts_ Interest Payable +Payable Sal./Wages ^ Com Stock Adjustment Receivable + Rev. Exp Div

As energy costs continue to rise, power efficiency is increasingly important. Acme Chemical is evaluating 2 different electric motors to drive a mixing motor and needs to perform a present economy study. The motor will produce 75 hp and will be operated 8 hours per day, 365 days for one year (maintenance will be performed on second shift—assume no down time during operation), after which time the motor will have no value. Select the most economical motor. Assume Acme’ s electric power costs $0.16 per kWh. (1 hp = 0.746 kW).
Motor A Motor B
Purchase price $3,200 $5,900
Annual maintenance cost $250 $450
Efficiency 75% 85%

The reason that we want to develop a confidence interval for the population mean is because:_____.
1. the sample mean is an efficient estimate of the population mean.
2. the chance that the sample mean is equal to the population mean is zero.
3. the sampling distribution of the sample mean is normally distributed.
4. the standard error of the sample mean is an efficient estimate of the population error.
5. the value of the sample mean varies from sample to sample.

As the manager of a company, you are concerned that not all customer orders are being shipped. To test whether all orders for the year have been shipped, you would:__________.
A. Review all customer order and make sure that each has a related bill of lading
B. Review all customer order and make sure that each has a related sales invoice
C. Review all bills of lading and make sure that each has a related sales invoice
D. Review all sales invoice to make sure that they have been posted in the related journal
E. Review all customer orders to make sure that each has been posted in the related journal

In 1990, Ivanhoe Company completed the construction of a building at a cost of $800,000 and first occupied it in January 1991. It was estimated that the building would have a useful life of 40 years and a salvage value of $24,000 at the end of that time. Early in 2001, an addition to the building was constructed at a cost of $200,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $8,000.

In 2019, it is determined that the probable life of the building and addition will extend to the end of 2050, or 20 years beyond the original estimate.

Required:
a. Using the straight-line method, compute the annual depreciation that would have been charged from 1991 through 2000:
b. Compute the annual depreciation that would have been charged from 2001 through 2018.
c. Prepare the entry, if necessary, to adjust the account balances because of the revision of the estimated life in 2019.

The accounting department of your company has just delivered a draft of the current year's financial statements to you. The summary is as follows:

Beginning of the Year End of the Year
Total Assets $550,000 $573,000
Total Liabilities 210,000 217,000
Total Equity 340,000 356,000
Net Income for the Year 101,900
Common Shares Outstanding 22,000 22,000

You discovered that they have not adjusted for estimated bad debt expenses of $8,500. For each of the following ratios, calculate:

a. The ratio that would have resulted had the error not been discovered (i.e. the incorrect ratio).
b. The correct ratio.

1. ROE
2. ROA
3. Debit ratio
4. EPS

Five years ago, Diane secured a bank loan of $310,000 to help finance the purchase of a loft in the San Francisco Bay area. The term of the mortgage was 30 years, and the interest rate was 8%/year compounded monthly on the unpaid balance. Because the interest rate for a conventional 30-year home mortgage has now dropped to 6.5%/year compounded monthly, Diane is thinking of refinancing her property.

Required:
a. What is Diane's current monthly mortgage payment?
b. What is Diane's current outstanding principal?
c. If Diane decides to refinance her property by securing a 30-year home mortgage loan in the amount of the current outstanding principal at the prevailing interest rate of 6.5%/year compounded monthly, what will be her monthly mortgage payment?
d. How much less will Diane's monthly mortgage payment be if she refinances?

Duke Company's records show the following account balances at December 31, 2021:
Sales revenue $15,800,000
Cost of goods sold 9,400,000
General and administrative expense 1,040,000
Selling expense 540,000
Interest expense 740,000
Income tax expense has not yet been determined. The following events also occurred during 2018. All transactions are material in amount.
a. $480,000 in restructuring costs were incurred in connection with plant closings.
b. Inventory costing $580,000 was written off as obsolete. Material losses of this type are considered to be unusual.
c. It was discovered that depreciation expense for 2017 was understated by $68,000 due to a mathematical error.
d. The company experienced a negative foreign currency translation adjustment of $380,000 and had unrealized gains on investments of $360,000.
Required:
Prepare a single, continuous multiple-step statement of comprehensive income for 2021. The company's effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income should be displayed net of tax. Ignore EPS disclosures. (Amounts to be deducted should be indicated with a minus sign.)

Bill was severely injured when he was hit by a car while jogging. He spent one month in the hospital and missed three months of work because of the injuries. Total medical costs were $54,000. Bill received the following payments as a result of the accident:
His employer-provided accident insurance reimbursed him for $43,200 of the medical costs and provided him with $3,800 in sick pay while he was out of work.
A private medical insurance policy purchased by Bill paid him $10,800 for medical costs.
His employer gave Bill $7,200 to help him get through his re-habilitation period.
A separate disability policy that Bill had purchased paid him $3,800.
How much gross income does Bill have as a result of the payments received for the accident?

Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data:_______. Total machine-hours 30,300 Total fixed manufacturing overhead cost $575,700 Variable manufacturing overhead per machine-hour $ 4.00 Recently, Job T687 was completed with the following characteristics:_______. Number of units in the job 10 Total machine-hours 30 Direct materials $ 730 Direct labor cost $1,460 If the company marks up its unit product costs by 40% then the selling price for a unit in Job T687 is closest to:_______.

Suppose 60 students are candidates for four scholarships – one for $500, one for $750, one for $1000 and the fourth for $1200:
a)How many way can four students get selected from the 60 candidates?
b)If you, your brother, and two sisters are four of the 60 candidates, what is the probability all four of you will get the four scholarships?

What is Your Fav song and Singer??

Aka:My Song is 10,000 hours and singer is Taylor swift but she dont sing that song!

Im a county person and a Farm girl im in 6th grade but me and my mom and dad moved into the city its not fun because i dont get to have horses and stuff.

George runs a small retail business. He sells brands that another business manufactures. George’s retail store uses the logos and trademarks of that business to attract customers. George thus acts as a dealer on behalf of the manufacturing business. Which type of franchise model does George’s retail business follow? A. trademark franchise B. product distribution franchise C. manufacturing franchise D. management franchise E. business format franchise

Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received a $17,000 bill from her accountant for consulting services related to her small business. Reese can pay the $17,000 bill anytime before January 30 of next year without penalty. Assume Reese’s marginal tax rate is 32% this year and will be 37% next year, and that she can earn an after-tax rate of return of 11% on her investments.
A. What is the after-tax cost if she pays the $31,000 bill in December?
B. What is the after-tax cost if she pays the $31,000 bill in January?

The following cost data relate to the manufacturing activities of Chang Company during the just completed year Manufacturing overhead costs incurred Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory Insurance, factory Total actual manufacturing overhead costs incurred $ 15,000 130,000 8,000 70,000 240,000 10,000 $473,000 Other costs incurred Purchases of raw materials (both direct and indirect) Direct labor cost $400,000 $60,000 Inventories: Raw materials, beginning. Raw materials, ending Work in process, beginning Work in process, ending $20,000 $30,000 $40,000 $70,000 The company uses a predetermined overhead rate of $25 per machine-hour to apply overhead cost to jobs. A total of 19,400 machine-hours were used during the year. Required: 1. Compute the amount of underapplied or overapplied overhead cost for the year 2. Prepare a schedule of cost of goods manufactured for the year

Alan works as a salesperson for an insurance company. Recently, he sold an insurance policy to a new customer. During their conversation, Alan made a list of all the benefits that the policy would offer the customer. He politely asked the customer to list the various drawbacks of buying the policy. In the end, Alan was able to close the sale because the benefits greatly outnumbered the drawbacks. Which closing technique did Alan use in this scenario?
A.
assumptive close
B.
Ben Franklin close
C.
porcupine close
D.
Sharp Angle close

An increase in the market price of​ men's haircuts, from ​$ per haircut to ​$ per​ haircut, initially causes a local barbershop to have its employees work overtime to increase the number of daily haircuts provided from to . When the ​$ market price remains unchanged for several weeks and all other things remain equal as​ well, the barbershop hires additional employees and provides haircuts per day.

Required:
What is the short-run price elasticity of supply?

Cycles started with 5 bicycles that cost $8 each. On August 16, California bought 30 bicycles at $55 each. On August 30, California sold 20 bicycles for $105 each.
Requirements
1. Prepare ​Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method.
2. Journalize the purchase of merchandise inventory on account and the sale of merchandise inventory on account.

The company's adjusted trial balance includes the following accounts balances: Cash, $15,000; Equipment, $85,000; Accumulated Depreciation, $25,000; Accounts Payable, $10,000; Retained earnings, $59,000; Dividends, $2,000; Fees Earned, $56,000; Depreciation Expense, $25,000; and Salaries Expense, $23,000. All accounts have normal balances.

Required:
Prepare the first closing entry.

No Date General Journal Debit Credit
1 Dec 31 No Transaction recorded

Prepare financial statements from an adjusted trial balance (LO3-5) [The following information applies to the questions displayed below.]
The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below.
Accounts Debit Credit
Cash $ 11,200
Accounts Receivable 142,000
Prepaid Rent 5,200
Supplies 26,000
Equipment 320,000
Accumulated Depreciation $ 127,000
Accounts Payable 11,200
Salaries Payable 10,200
Interest Payable 4,200
Notes Payable (due in two years) 32,000
Common Stock 220,000
Retained Earnings 52,000
Service Revenue 420,000
Salaries Expense 320,000
Rent Expense 16,000
Depreciation Expense 32,000
Interest Expense 4,200
Totals 847,800 876,600
Required:
Prepare an income statement for the year ended December 31, 2021.
FIGHTIN' BLUE HENS CORPORATION
Income Statement
For the Year Ended December 31, 2021
Expenses:
Total expenses

Champion Company purchased and installed carpet in its new general offices on March 31 for a total cost of $18,000. The carpet is estimated to have a 15-year useful life and no residual value.

Required:
a. Prepare the journal entries necessary for recording the purchase of the new carpet.
b. Record the December 31 adjusting entry for the partial-year depreciation expense for the carpet assuming that Champion Company uses the straight-line method.

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company’s inventory balances were as follows:

Raw materials $ 40,000
Work in process $ 18,000
Finished goods $ 35,000

The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company’s predetermined overhead rate of $16.25 per direct labor-hour was based on a cost formula that estimated $650,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:

a. Raw materials were purchased on account, $510,000
b. Raw materials use in production, $480000. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $600,000; indirect labor, $150,000; selling and administrative salaries, $240,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $367,000
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $500,000.
f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
g. Jobs costing $1,680,000 to manufacture according to their job cost sheets were completed during the year.
h. Jobs were sold on account to customers during the year for a total of $2,800,000. The jobs cost $1,690,000 to manufacture according to their job cost sheets.

Required:
1. What is the journal entry to record the labor costs incurred during the year?
2. What is the total amount of manufacturing overhead applied to production during the year?
3. What is the total manufacturing cost added to Work in Process during the year?
4. What is the journal entry to record the transfer of completed jobs that is referred to in item g above?
5. What is the ending balance in Work in Process?
6. Is manufacturing overhead underapplied or overapplied for the year? By how much?
7. What is the ending balance in Finished Goods?
8. Assuming that the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for the year?
9. What is the gross margin for the year?
10. What is the net operating income for the year?

Assume that Atlas Sporting Goods Inc. has $1,040,000 in assets. If it goes with a low-liquidity plan for the assets, it can earn a return of 14 percent, but with a high-liquidity plan the return will be 11 percent. If the firm goes with a short-term financing plan, the financing costs on the $1,040,000 will be 8 percent, and with a long-term financing plan the financing costs on the $1,040,000 will be 9 percent.
a. Compute the anticipated return after financing costs with the most aggressive asset-financing mix.
Anticipated return $
b. Compute the anticipated return after financing costs with the most conservative asset-financing mix.
Anticipated return $
c. Compute the anticipated return after financing costs with the two moderate approaches to the asset-financing mix.
Anticipated Return
Low liquidity $
High liquidity $

Your company is estimated to make dividends payments of $2.2 next year, $3.8 the year after, and $4.8 in the year after that. The dividends will then grow at a constant rate of 6% per year. If the discount rate is 13% then what is the current stock price

During 2019, John was the chief executive officer and a shareholder of Maze, Inc. He owned 60% of the outstanding stock of Maze. In 2016, John and Maze, as co-borrowers, obtained a $100,000 loan from United National Bank. This loan was secured by John’s personal residence. Although Maze was listed as a co-borrower, John repaid the loan in full in 2019. On Maze’s Form 1120 tax returns, no loans from shareholders were reported. Discuss whether John is entitled to a bad debt deduction for the amount of the payment on the loan.

Five hundred small almond growers operate in areas with plentiful rainfall. The marginal cost of producing almonds in these locations is given by MC = .02Q, where Q is the number of crates produced in a growing season. Three hundred almond growers operate in drier areas where costly irrigation is required. The marginal cost of growing almonds in these locations is given by MC = .04Q.
A. What is the individual supply curve for each type of almond grower?
B. "Add up" the individual supply curves to derive the market supply curve.
C. If the market demand for almonds is Qa = 105,000 – 2,500P, what will the equilibrium price of almonds be?
D. How many almonds will each type of almond grower produce at that price?
E. Find producer surplus by each type of grower.
F. Find producer surplus by the entire market.

Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable; Supplies; Office Equipment; Accounts Payable; Jason Payne, Capital; Jason Payne, Drawing; Fees Earned; Rent Expense; Advertising Expense; Utilities Expense; Miscellaneous Expense.

Oct. 1. Paid rent for the month, $5,100.
3. Paid advertising expense, $3,230.
5. Paid cash for supplies, $1,380.
6. Purchased office equipment on account, $21,200.
10. Received cash from customers on account, $6,920.
15. Paid creditors on account, $2,030.
27. Paid cash for miscellaneous expenses, $880.
30. Paid telephone bill (utility expense) for the month, $320.
31. Fees earned and billed to customers for the month, $46,100.
31. Paid electricity bill (utility expense) for the month, $550.
31. Withdrew cash for personal use, $3,500.

Required:
Journalize the selected transactions for October 2019.

Peartree Inc. provides the following​ data:
2015 2014
Cash $47,000 ​$25,000
Accounts​ Receivable, Net 99,000 ​62,000
Merchandise Inventory 79,000 ​50,000
​Property, Plant, and​
Equipment, Net 181,000 ​ 120,000
Total assets $406,000 ​$257,000
Additional​ information:
Net sales $530,000
Cost of Goods Sold 150,000
Interest expense 24,000
Net income 181,000
Calculate the return on total assets for the year 2015.
A.​ 62.03%.B.​ 45.79%.C.​ 50.74%.D. ​71.98%.

Trade Theories, a Historical Approach
Read the overview below and complete the activities that follow.
Free trade refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country, or what they can produce and sell to another country. The economic arguments surrounding the benefits and costs of free trade in goods and services are not abstract academic ones. International trade theory has shaped the economic policy of many nations for the past 50 years.
The textbook reviews six main trade theories: Adam Smith's theory of absolute advantage; David Ricardo's theory of comparative advantage; the Heckscher-Ohlin theory and the product life-cycle theory, which extend various aspects of Ricardo's theory; the new trade theory explaining the benefits from trade without national differences in resource endowments or technology; and Michael Porter's theory of national competitive advantage that draws attention to an international success in a particular industry. All these theories identify the specific benefits of international trade, help to explain the patterns of international trade, and government trade.
Match the correct theory with its corresponding description and time period in the evolution of international trade theory.1. Established in 1776, Adam Smith stated in this theory that countries should specialize in the production of goods and services for which they can produce most efficiently and then trade these for goods produced by other countries.A. Absolute advantage theory.B. New trade theory.C. Heckscher-Ohlin theory.D. National competitive advantage theory.E. Comparative advantage theory.F. Product life-cycle theory2. In 1817, David Ricardo stated that it makes sense for a country to specialize in the production of those goods that it produces most efficiently and to buy the goods that it produces less efficiently from other countries.A. Absolute advantage theory.B. New trade theory.C. Heckscher-Ohlin theory.D. National competitive advantage theory.E. Comparative advantage theory.F. Product life-cycle theory3. In the early 1900s, this theory predicts that countries will export those goods that make intensive use of factors that are locally abundant and import goods that make intensive use of factors that are locally scarce.A. Absolute advantage theory.
B. New trade theory.
C. Heckscher-Ohlin theory.
D. National competitive advantage theory.
E. Comparative advantage theory.
F. Product life-cycle theory4. In the mid-1960s, a theory initially proposed by Raymond Vernon, points out that where a new product is introduced is important. Over time, cost considerations start playing a greater role in the competitive process.A. Absolute advantage theory.B. New trade theory.C. Heckscher-Ohlin theory.D. National competitive advantage theory.E. Comparative advantage theory.F. Product life-cycle theory5. Emerging in the 1970s, this theory states that through its impact on economies of scale, trade can increase the variety of goods available to consumers while decreasing the average cost of those goods.A. Absolute advantage theory.B. New trade theory.C. Heckscher-Ohlin theory.D. National competitive advantage theory.E. Comparative advantage theory.F. Product life-cycle theory6. The most current theory was developed by Michael Porter and states that four broad attributes of a nation shape the environment in which local firms compete, and these attributes promote or impede the creation of competitive advantage.A. Absolute advantage theory.B. New trade theory.C. Heckscher-Ohlin theory.D. National competitive advantage theory.E. Comparative advantage theory.F. Product life-cycle theory