Answer:
a. TC = 15Q
Explanation:
The cost function must include all the costs incurred by a business. Generally it includes a variable part and a fixed part. In this case, since Jack had no fixed costs, his costs are only variable: labor = $10 per hour
in total, Jack's business shoveled 10 x 14 = 140 walks, since he paid his friends $2,100 in total, the variable cost of shoveling one walk = $2,100 / 140 = $15
that means that last years cost function = $15 x number of walks shoveled, or
TC = 15Q (where Q is the number of walks shoveled)
An investor can design a risky portfolio based on two stocks, A and B. Stock A has an expected return of 21% and a standard deviation of return of 39%. Stock B has an expected return of 14% and a standard deviation of return of 20%. The correlation coefficient between the returns of A and B is 0.4. The risk-free rate of return is 5%. The standard deviation of the returns on the optimal risky portfolio is :_______
a. 25.5%
b. 22.3%
c. 21.4%
d. 20.7%
Answer:
Option c (21.4%) is the right approach.
Explanation:
As we know.
wA and wB = weights of the securities SDA and SDB = standard deviations Cor(A,B) = correlation coefficient.On applying the formula:
⇒ [tex]SD \ Portfolio = [wA^2\times SDA^2+wB^2\times SDB^2+2\times wA\times wB\times SDA\times SDB\times Cor(A,B)]^{0.5}[/tex]
On substituting the values, we get
⇒ [tex](0.29^2\times 39^2+0.71^2\times 20^2+2\times 0.29\times 0.71\times 39\times 20\times 0.4)^{0.5}[/tex]
⇒ [tex]21.40 \ Percent[/tex] (%)
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.
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
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
Answer:
It is the ability to care for plants.
Explanation:
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
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
1. What are the different types of economic measurements used to analyze most
economies?
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!!!!
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
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
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.
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
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
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.
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.
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
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.
The City of Breukelen maintains a rapid transit system, which is accounted for in a proprietary fund called Breukelen RTS. Based on the following excerpt from the trial balance, prepare a statement of revenues, expenses, and changes in net position for the Breukelen RTS for the year ended December 31, 2019, using the appropriate format.
Revenues from fares $3,150,000
Train operating expenses 2,430,000
Track and train maintenance expenses 565,000
Depreciation 325,000
Investment income 50,000
Interest expense on long-term debt 320,000
Cash subsidy from the City of Breukelen 500,000
Net position, January 1, 2019 7,430,000
Answer:
The City of Breukelen
Breukelen RTS
Statement of revenues, expenses, and changes in net position
For the year ended December 31, 2019
Particulars Amount$ Amount$
Revenues
Operating Revenue 3,150,000
Operating Expenses
Train operating expenses 2,430,000
Track and maintenance expenses 565,000
Depreciation expenses 325,000
Total operating expenses 3,320,000
Operating loss (170,000)
Non-Operating revenue (Expenses)
Investment income 50,000
Interest expenses 320,000
Total Non-operating (expenses) (270,000)
Loss before transfer (440,000)
Transfer from City of B 500,000
Change in net assets 60,000
Total net position (beginning) 7,430,000
Total net position (ending) 7,490,000
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.
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
Self-disclosure is considered a major theme of interpersonal relations because
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?
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
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.
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
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
Answer:
Goods available for sale = 300 units
ending inventory under:
FIFO = $1,200LIFO = $900weighted average = $1,050specific identification = $981.60COGS under:
FIFO = $2,860LIFO = $3,160weighted average = $3,010specific identification = $3,078.40Explanation:
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
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
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.
Hokies uses the following accounts:
Accounts Payable
Equipment
Supplies
Rent Expense
Notes Payable
Salaries
Expense
Accounts
Receivable
Utilities
Expense
Service
Revenue
Retained
Required:
Indicate which accounts should be debited and which should be credited for the following transactions of Hokies companies.
1. Pay a cash dividend.
2. Pay rent in advance for the next three months.
3. Provide services to customers on account.
4. Purchase office supplies on account.
5. Pay salaries for the current month.
6. Issue common stock in exchange for cash.
7. Collect cash from customers for services provided in (3) above.
8. Borrow cash from the bank and sign a note.
9. Pay for the current month's utilities.
10. Pay for office supplies purchased in (4) above.
Answer:
Transaction Account Debited Account Credited
1. Pay a cash dividend. Dividends Cash
2. Pay rent in advance for the next Prepaid Rent Cash
three months.
3. Provide services to customers Accounts Receivables Service revenue
on account.
4. Purchase office supplies on Supplies Accounts receivables
account.
5. Pay salaries for the current Salaries Account Payables
month.
6. Issue common stock in Cash Common stock
exchange for cash.
7. Collect cash from customers for Cash Account Receivables
services provided in (3) above.
8. Borrow cash from the bank Cash Notes payable
and sign a note.
9. Pay for the current month's utilities. Utilities Cash
10. Pay for office supplies purchased Account payables Cash
in (4) above.
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.
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
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.
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.
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
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)
how do you determine a bond premium or discount
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.
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.
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.
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.
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
Answer:
Executive Branch: Affirmative Action, Oil Pipeline, Equal Employment
Judicial Branch: Labor Relations, Best Buy, Starbucks
Legislative Branch: Ford, Education, Retirement
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.
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 overvaluedInvestors 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.
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
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.
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
Answer:
B, C, E
Explanation:
Answer:
B. being a quick learner
C. having good communication skills
E. being flexible
Explanation:
A company understated its ending inventory balance by $4,000 in 2021. What impact will this error have on cost of goods sold and gross profit in 2021 and 2022?
Answer:
Cost of goods sold will be overstated by $4,000 in 2021.
Gross profit will be understated by $4,000 in 2022.
Explanation:
If ending inventory is underestimated, then the cost of goods sold would increase by same amount of underestimated inventory I.e $4,000.
However, since cost of goods would increase by $4,000 in 2021, the gross profit will be underestimated by $4,000 in 2022. This is because the overstatement of cost goods sold have eroded the extra profit that should have been added to the gross profit.
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.
Answer:
B
Explanation:
The value of gold is usually very consistent especially when accounting for inflation