Answer: b. The quantity supplied exceeds the quantity demanded at a given price.
Explanation:
A market surplus is a situation where suppliers have supplied to the market, more goods than the demand can take at a given price.
This will lead to the suppliers having unsold goods and they will respond by reducing their prices so that they may be able to sell because the law of demand shows that when prices reduce for normal goods, quantity demanded increases.
Beth and Bob Martin have total take-home pay of $5,000 a month. Their monthly expenses total $4,360. Calculate the minimum amount this couple needs to establish an emergency fund.
Answer:
the minimum amount that required to create an emergency fund is $13,080
Explanation:
The computation of the minimum amount that required to create an emergency fund is as follows:
= Monthly expenses × minimum months
= $4,360 × 3 months
= $13,080
hence, the minimum amount that required to create an emergency fund is $13,080
The same is relevant and considered too
The Big Black Bird Company (BBBC) has a large order for special plastic-lined military uniforms to be used in an urgent military operation. Working the normal two shifts of 40hours each per week, the BBBC production process usually produces 2 comma 600uniforms per week at a standard cost of $125each. 72 employees work the first shift and 32the second. The contract price is $240per uniform. Because of the urgent need, BBBC is authorized to use around-the-clock production six days per week. When each of the two shifts works 72hours per week, production increases to 3 comma 800 uniforms per week but at a cost of $152 each.
a. Did the multifactor productivity ratio increase, decrease or remain the same? If it changed, by what percentage did it change?
b. Did the labor productivity ratio increase decrease or remain the same? If it changed, by what percentage did it change?
c. Did weekly profits increase decrease, or remain the same?
Answer:
first we must calculate the original value of the goods produced = $240 x 2,600 = $624,000
original cost = $125 x 2,600 = $325,000
original amount of labor used = (72 + 32) x 40 = 4,160 hours
value of goods after change = 3,800 x $240 = $912,000
cost after change = 3,800 x $152 = $577,600
labor used after change = (72 + 32) x 72 = 7,488 hours
a) original multifactor productivity = $624,000 / $325,000 = $1.92 per dollar spent
multifactor productivity after change = $912,000 / $577,600 = $1.58 per dollar spent
multifactor productivity decreased by 17.71%
b) original labor productivity = $624,000 / 4,160 hours = $150 per labor hour
labor productivity after change = $912,000 / 7,488 hours = $121.79 per labor hour
labor productivity decreased by 18.81%
c) change in weekly profits = ($912,000 - $577,600) - ($624,000 - $325,000 = $35,400 increase
Suppose you knew that there was going to be 25 percent inflation between now and five years from now, and suppose you knew that the current minimum wage of $7.50 was only enough to get a family of three to 70 percent of the poverty line. In order to make the minimum wage earn enough to be at that poverty line in five years, the minimum wage in five years would have to be
Answer:
In order to make the minimum wage earn enough to be at that poverty line in five years, the minimum wage in five years would have to be:
$9.38.
Explanation:
a) Data and Calculations:
Current minimum wage = $7.50
Inflation rate between now and five years from now = 25%
The minimum wage in five years should be $9.38 ($7.50 * 1.25)
b) When the minimum wage increases from $7.50 to $9.38 in five years, it will match the inflation rate between now and give years' time of 25% because the difference in minimum wage of $1.88 (9.38 - $7.50) is equal to 25% ($1.88/$7.50 * 100). If the minimum wage of $9.38 is earned the wage earner will be able to get a family of three to 70% of the poverty line, just as $7.50 is able to get the family of three to 70% of the poverty line in the current year.
0 1 2 3 $600 $1,200 $1,800 At an annual interest rate of 7%, the present value of this timeline in year 0 is closest to:
Answer:
Total PV= $3,078.22
Explanation:
Giving the following information:
Cash flows:
Cf1= $600
Cf2= $1,200
Cf3= $1,800
Interest rate= 7%
To calculate the present value, we need to apply the following formula to each cash flow:
PV= Cf/(1+i)^n
PV1= 600/1.07= 560.75
PV2= 1,200/(1.07^2)= 1,048.13
PV3= 1,800/(1.07^3)= 1,469.34
Total PV= $3,078.22
The present value of the cash flows at an interest rate of 7% is approximately $3,080.
What is the present value?Present value is the concept that states the amount of money today is worth more than the amount of money in the future. The formula to calculate the present value of cash flows is:
[tex]\rm PV = FV\dfrac{1}{(1+r)^n}[/tex], where PV is the present value, FV is the future value, r is the rate of return and n is the number of periods.
The present value of $600 at the end of first year is:
[tex]\rm PV = 600\dfrac{1}{(1+0.07)^1}\\\\PV = 600\dfrac{1}{(1.07)^1}\\\\PV = \$512.82[/tex]
The present value of $1,200 at the end of the second year is:
[tex]\rm PV = 1,200\dfrac{1}{(1+0.07)^2}\\\\PV = 1,200\dfrac{1}{(1.07)^2}\\\\PV = \$1,048.13[/tex]
The present value of $1,800 at the end of the third year is:
[tex]\rm PV = 1,800\dfrac{1}{(1+0.07)^3}\\\\PV = 1,800\dfrac{1}{(1.07)^3}\\\\PV = \$1,469.34[/tex]
Therefore the total present value of the cash flows is:
[tex]\rm Total\:PV= \$560.75+\$1,048.13+\$1,469.34\\\\\rm Total\:PV= \$3,078.22[/tex]
Therefore the correct option is $3,080.
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Carmen Company has an asset that cost $5,000 and currently has accumulated depreciation of $2,000. Suppose the firm sold the asset for $2,500 and is subject to a 30% income tax rate. The loss on disposal would be: $500. $350. $2,500. None, because the transaction produced a gain. $650.
Answer:
The loss on disposal would be: $500
Explanation:
The computation is shown below;
= Cost of the asset - accumulate depreciation - sale value
= $5,000 - $2,000 - $2,500
= $500
This $500 represent the short term capital loss
So the $500 would be loss on disposal
Hence, the first option is correct
And, the same is relevant
A long year-end status report for work is 138 pages long. You need to print 13 copies for a meeting next week. How much is the paper going to cost for those reports
Answer:
The paper that cost for those reports is $3.59
Explanation:
The computation of the paper that cost for those reports is shown below:
= (Number of pages in long × number of copies printed) ÷ (paper sold in ream)
= (138 pages × 13 copies) ÷ (500 pages)
= 1,794 ÷ 500 pages
= $3.59
Hence, the paper that cost for those reports is $3.59
The same is to be relevant
6. Microeconomics and macroeconomics Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics. Microeconomics Macroeconomics The effect of government regulation on a monopolist's production decisions The effect of an increase in the money supply on the rate of inflation The government's decision on how much to spend on public projects
Answer:
Macroeconomics are for economic events that affect the entire economy not just singular parties in it while Microeconomics studies the effects of economic events on the parties in the economy such as consumers and companies.
The effect of government regulation on a monopolist's production decisions ⇒ MICROECONOMICS
This concerns the effect of an economic event (government regulation) on a party in the system which are monopolists.
The effect of an increase in the money supply on the rate of inflation ⇒ MACROECONOMICS
This concerns the effect of an increase of money supply on the rate of inflation for the whole country which makes it Macro.
The government's decision on how much to spend on public projects ⇒ MACROECONOMICS
Public works will affect the entire country and its economic system so the decision to see how much to spend is a Macroeconomic activity.
On-Time Delivery Company acquired an adjacent lot to construct a new warehouse, paying $42,000 and giving a short-term note for $307,000. Legal fees paid were $2,335, delinquent taxes assumed were $11,900, and fees paid to remove an old building from the land were $19,800. Materials salvaged from the demolition of the building were sold for $5,200. A contractor was paid $1,061,000 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet.
Answer:
$377,835
Explanation:
The cost of an assets include Purchase Costs and other costs directly related to place to asset in the location and condition intended for use by the management.
Thus, calculation of the Cost of the Land will be as follows :
Cash payment $42,000
Short term note $307,000
Legal Costs $2,335
Delinquent taxes $11,900
Fees to remove old buildings ($19,800 - $5,200) $14,600
Total $377,835
Conclusion :
Therefore, the cost of the land to be reported on the balance sheet is $377,835
year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. Is the
Answer:
1.84 %
Explanation:
Given,
Forward rate of British pound = $1.60
Spot rate of British pound= $1.63
We have to find forward discount.
Now,
The spot rate is greater than the forward rate then it is forward discount.
Forward discount= [tex]\dfrac{1.63-1.60}{1.63}[/tex]
= 1.84 %
Hence, forward discount percent is 1.84%.
The question is incomplete. The complete question is :
The one-year forward rate of the British pound is quoted at $1.60, and the spot rate of the British pound is quoted at $1.63. The forward ________ is _______ percent.
Solution :
The future yield of any bond is known as the Forward Rate. It is the interest rate that is applicable to any financial transaction which will occur in the future.
According to the question,
The forward rate of the British pound for one year is = $ 1.60
The spot rate of the British pound is = $ 1.63
Therefore,
[tex]$=\frac{\text{Forward rate}}{\text{spot rate}}-1$[/tex]
[tex]$=\frac{1.60}{1.63}-1$[/tex]
= 0.98 - 1
= -0.018
Thus it is forward discount and the percentage is 1.8 %
BE6.10 (LO 4) Henry Quincy wants to withdraw $30,000 each year for 10 years from a fund that earns 8% interest. How much must he invest today if the first withdrawal is at year-end
Answer:
$201,302
Explanation:
Calculation for How much must he invest today if the first withdrawal is at year-end
First step is to calculate (FVF-OAn,i) using financial calculation
R = 30,000
n = 10
i = 8%
(FVF-OAn,i)=(6.71008)
Now let calculate the amount to be Invested today using this formula
Investment today = R (FVF-OAn,i)
Let plug in the formula
Investment today= 30,000 (6.71008)
Investment today = $201,302
Therefore the amount he must invest today if the first withdrawal is at year-end is $201,302
Apart from the extent of the re-engineering, the principal factors that affect re-engineering costs are: The quality of the software to be re-engineered. The tool support available for re-engineering. The extent of data conversion required. The availability of expert staff. Select one: a. Only 1, 2 are Correct b. Only 2, 3, 4 are Correct c. All 1, 2, 3, 4 are Correct d. All 1, 2, 3, 4 are Incorrect
Answer:
C. All of 1, 2, 3, 4 are correct
Explanation:
Software reengineering can be defined as examining and altering a system so as to reconstitute it to be in a newer form.
The cost factors which are to be considered here are:
1. Quality of this software which is going to be reengineered.
2. Consideration on whether expert staffs are available
3. Tool support availability
4. The extent of the required data conversion.
Therefore all the options are correct
In a market economy resources tend to be allocated optimally. Discuss how the interaction of consumers and producers makes this happen
Answer:
In a market economy resources tend to be allocated optimally is discussed below in detail.
Explanation:
In a market economy, resource allocation is circumscribed by the supply and request forces. In other speeches, the allocation of resources is determined using the payment mechanism. The resource allocation in a projected economy, on the other hand, is circumscribed by management or a central administration.
A corporation's earnings are taxed as corporate earnings and as dividends to the stockholders. This is known as:
Answer:
Double taxation.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
There are three (3) types of taxation used by the government, these are;
1. Progressive taxation: it involves charging individuals having higher incomes a higher percentage of their total income.
- For instance, John pays 30% on $70,000 and Joyce pays 10% on $45.000.
2. Proportional taxation: it involves charging both lower and higher income earners equally in proportion to their income.
- For instance, John pays 20% on $50,000 and Joyce pays 20% on $36,000.
3. Regressive taxation: it involves charging individuals with low incomes a higher percentage of their total income and vice-versa.
- For instance, John pays 15% on $60,000 and Joyce pays 20% on $36,000.
In this scenario, a corporation's earnings are taxed as corporate earnings and as dividends to the stockholders. This is known as double taxation.
Double taxation can be defined as a phenomenon in which an individual or business entity pays income tax twice on the same income source such as corporate earnings and as dividends to their stockholders.
Manufacturing overhead was applied to production at 60 percent of the direct labor cost of $10,000. The entry under perpetual inventory procedure is
Answer:
Dr Work in Process Inventory for $6,000
Cr Manufacturing $6,000
Explanation:
Preparation of The journal entry under perpetual inventory procedure
Based on the information given if the Manufacturing overhead was applied to production at 60% of the direct labor cost of the amount of $10,000 which means that The journal entry under perpetual inventory procedure is :
Dr. Work in Process Inventory for $6,000
Cr Manufacturing $6,000
(60%*$10,000)
slader When you decided to start your consulting company, you were previously earning $ 50,000/year working forthe large private consulting company Accenture. When you started the business it cost $ 100,000 to rent anoffice building, purchase computers, furniture and other office equipment. What was your opportunity costof opening your own consulting company
Answer:
Opportunity cost refers to value of sacrifice one make for making a particular decision. Here, the cost of opportunity of leaving a job to start a business will be = Salary lost due to starting a business + Money initially spend on setting up of business + interest lost on initial investment (which you could have otherwise earned had you invested the money elsewhere) - potential profit from the business
Calculating the annual opportunity cost
Salary lost per year = $50,000
Money initially spend = $100,000
Let us assume the interest rate to be 2% and at this rate as i have not spend the money on starting the business. So interest per year = 100,000 * 2 * 1 / 100 = $2000
Thus, opportunity cost = $50,000 + $100,000 + $2000 - potential profit from the business. So therefore, Opportunity Cost is $152,000 - potential profit from the business per year.
What term is used to refer to the decision about whether to report an item in the financial statements
Answer:
Recognition.
Explanation:
Recognition is a term used to refer to the decision about whether to report an item in the financial statements.
The expense recognition principle is an accounting principle which is typically used on accrual basis accounts and it states that expenses incurred by an individual or business entity should be recognized and matched in the same period with respect to the revenues they are related to.
For instance, company XYZ purchases a property worth $90,000 in June, it was then sold in July for $250,000. Based on the expense recognition principle, the $90,000 cost shouldn't be recognized by company XYZ as an expense until July, when the related revenue would be recognized also. Else, if recognized, its expenses would be overstated by $90,000 in June, and consequently understated to the tune of $250,000 in July.
Additionally, the expense recognition principle helps business owners to calculate their taxes and profits or losses properly.
The percentage of accounts receivable method multiplies the current accounts receivable balance by the estimated uncollectible percentage to arrive at ________.
Answer: Adjusted allowance for bad debts
Explanation:
The Percentage of Accounts receivable method estimates the allowance for bad debt in a period by multiplying the current receivable balance by an uncollectible percentage which is estimated by the business based on its history with bad debts.
This allowance is then posted to the Allowance for doubtful debt accounts and removed from the Accounts receivable.
What is policy vacuum? Why is it difficult to fill policy vacuums?
Answer:
A policy vacuums is said to exist when there is no sufficiently standard policy to govern a given situation
Explanation:
filling policy vacuums is not a simple process of applying known lows and principles to entities that can be subsumed under them ... to fill policy vacuums created by computer and information technology with traditional norms may prevent the creation of new ways of doing things
g A bank offers to lend you for 1 year on a loan contract that calls for you to make interest payments of at the end of each month and then pay off the principal amount at the end of the year. What is the effective annual rate on the loan
Answer: 12.68%
Explanation:
First find the nominal interest rate per month:
= Interest payment/Loan
= 100/ 10,000
= 1%
Effective annual rate is:
= (1 + Interest rate per quarter)^no. of compounding periods - 1
= (1 + 1%)¹² - 1
= 12.68%
A stock sells for $10 per share. You purchase 100 shares for $10 a share (i.e., for $1,000), and after a year the price rises to $17.50. What will be the percentage return on your investment if you bought the stock on margin and the margin requirement
Answer:
300% returns
150% returns
100% returns
Explanation:
given data
stock sells = $10 per share
purchase = 100 shares
price rises = $17.50
solution
Profit per share is =17.5 - 10 = 7.5
Total profit is = 100 × 7.5 = 750
if here margin requirement is 25%
then here you invest = 100 ×10 × 25% = $250
Percent of return = Profit ÷ Capital
return % = (750 ÷ 250) × 100
and get return = 300%
and
if here margin requirement is 50%
then here you invest = 100 ×10 × 50% = $500
Percent of return = Profit ÷ Capital
return % = (750 ÷ 500) × 100
and get return = 150%
and
if here margin requirement is 75%
then here you invest = 100 ×10 × 75% = $750
Percent of return = Profit ÷ Capital
return % = (750 ÷ 750) × 100
and get return = 100%
Which of the following data analysis models use optimization techniques? Group of answer choices Prescriptive analytics Predictive analytics Diagnostic analytics Descriptive analytics
Answer:
Prescriptive analytics.
Explanation:
Prescriptive analytics can be defined as a type of data analysis model which typically comprises of descriptive data and forecasting techniques used for identifying the decisions that are most likely to yield an optimum or best performance.
Hence, prescriptive analytics is a data analysis model that use optimization techniques.
For example, prescribing a car that is capable of finding the best route for a road trip.
Prescriptive analytics.
Prescriptive analytics is a type of data analysis model that often includes descriptive data and forecasting approaches for finding the decisions that are most likely to produce the best or optimum results. Prescriptive analytics is a data analysis approach that employs optimization methods.For instance, prescribing an automobile capable of determining the most efficient route for a road trip.Prescriptive analytics use optimization techniques
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can frictional unemployment by itself explain the fact that the late 2010s saw more job openings than unemployed workers
Answer:
Frictional unemployment cannot by itself explain the fact that the late 2010s saw more job openings than unemployed workers.
Instead, frictional unemployment points to the fact that some people are unemployed because they are just entering the labor market for the first time after a long period of absence.
Explanation:
As a part of natural unemployment, frictional unemployment arises when workers search for new jobs or transition from one job to another. During economic recession, there is no increase in frictional unemployment. Typical examples of frictional unemployment are caused by graduating students who join the labor force and are unemployed until they find work and parents who rejoin the workforce after taking sometime to stay at home and raise their children.
On April 1, Garcia Publishing Company received $2,448 from Otisco, Inc. for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Garcia Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period
Answer:
the amount of revenue recorded for the first year is $612
Explanation:
The computation of the amount of revenue recorded for the first year is shown below:
= Amount received × given months ÷ total number of months
= $2,448 × 9 months ÷ 36 months
= $612
The 9 months are considered from April 1 To December 31
hence, the amount of revenue recorded for the first year is $612
You are offered an investment opportunity in which you will receive $25,000 in one year in exchange for paying $23,750 today. Suppose the risk-free interest rate is 6% per year. Should you take this project
Answer:
It is more profitable to receive $23,750 today than $25,000 in one year.
Explanation:
Giving the following information:
Future Value= $25,000
Present Value= $23,750
Risk-free interest rate= 6%
We need to calculate the future value of $23,750. If it is higher, it is more convenient to receive $23,750 today.
FV= PV*(1+i)^n
FV= 23,750*(1.06^1)
FV= $25,175
It is more profitable to receive $23,750 today than $25,000 in one year.
37.Ralph is known throughout the company as being an old curmudgeon. But, he is without a doubt the most knowledgeable person in the fraud analysis department. The system project you are working on has to have an interface to various fraud applications. How should you prepare for an interview with Ralph
Answer:
Make Ralph understand WHY he needs to be interviewed. Make sure he understands the business value of the proposed system and why his input is vital. Send him questions in advance; talk to somebody who knows him so you can understand him more.
Explanation:
In the given scenario Ralph was described as an old curmudgeon. This means he is an ill tempered person that generally expresses no joy.
However he is without a doubt the most knowledgeable person in the fraud analysis department.
In preparation to interview him there is a need to make him understand why there needs to be an interview. When he sees the need for the interview he will be more engaged.
This can be done by explaining business value of the proposed system and why his input is vital.
Also questions can be sent to him ahead of the interview songs can better prepare
Describe the philosophy and practice of integrated marketing communications (IMC) and the five key features of IMC.
Answer: Profile the identified target market, Using relevant media channels,
Achieve communication synergy–this is speaking with a single voice, Influence target market’s behaviour, Build customer relationships
Explanation:
1. Profile the identified target market. IMC starts with profiling and understanding customer (‘outside-in’) needs, wants, opinions, interest, purchase behaviours and media habits to determine those communication methods that will best serve the customers’ information needs and motivate them to purchase the brand.
2.Using relevant media channels.
That is, carefully select those toolsthat are most appropriate for the communications objective at hand
and relevant to your brand’s target audience.
3 Achieve communication synergy–this is speaking with a single voice.
All brand elements must strive to present the same message and convey that message consistently across diverse message channels, or points of contact.
4.Influence target market’s behaviour.
Marketing communications must do more than just awareness but rather try to move people to action
5.Build customer relationships.
Successful relationships betweencustomers and brands lead to repeat purchasing and perhaps evenloyalty toward a brand. One way to build brand/customer relationships is the use of frequency, loyalty, or ambassador programs.
In a market economy, why must the government play a primary role in dealing with pollution, vaccinations, and medical research
Answer:
Explanation:
The government needs to be on top of these situations because each of these factors plays a huge role in the wellness and size of a population. A market economy needs a certain healthy and large population in order to function correctly. The population needs to produce the products and services while at the same time purchasing those products and services from one another in order for the market cycle to function. If such factors as disease and pollution make people sick it will severely cripple the market economy.
When are winner-take-all markets good for consumers?
Denise works in the quality control section of a large shipping company. In this capacity, she monitors and reports on how well (or how poorly) the system operates and how well the subsystems of the company relate to each other. With what does Denise provide her organization
Answer:
Feedback loops
Explanation:
In the given situation since it is mentioned that denise who works in the quality control section and she monitors and reports how well or how poor the system operates so here she provide the feedback loops to the organization as it deals with the event that varies from the response
So according to the given situation, the feedback loops is the answer
Chilly Company is considering investing $110,000 in a new refrigerator, designed to keep food extra crispy. The refrigerator will have a useful life of 10 years, a salvage value of $10,000, and is expected to generate an annual after tax net income of $15,000 in each year of its useful life. Chilly will use the straight-line method of depreciation. What is the accounting rate of return
Answer:
25%
Explanation:
depreciation expense per year = ($110,000 - $10,000) / 10 = $10,000
average annual investment = $60,000 (carrying value after the end of year 5 or half the life of the project)
average net profit per year = $15,000
accounting rate of return = average net profit per year / average investment = $15,000 / $60,000 = 0.25 = 25%