Answer: False
Explanation:
The statement that as people become more powerful, they tend to become less goal-oriented, less motivated, and more focused on gaining additional power is false.
When people become more powerful, such people become motivated to achieve organizational aims and achieve greater things. Also, they become more empowered which helps in increasing their job satisfaction and morale.
Refer to the following data: Net sales, first month $13,000 Normal gross profit as a percentage of sales 45% Inventory, start of period $8,000 Net purchases, first month $7,000 Using the gross profit method of inventory estimation, the amount of normal gross profit would be:______.a. $5,850.b. $3,600. c. $6,750. d. $15,000.
Answer:
a. $5,850
Explanation:
Using the gross profit method of inventory estimation, the amount of normal gross profit would be;
= Net sales × Normal gross profit margin percentage
= $13,000 × 45%
= $5,840
Aaker Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $168 Units in beginning inventory 0 Units produced 9,550 Units sold 8,150 Units in ending inventory 1,400 Variable costs per unit: Direct materials $35 Direct labor $66 Variable manufacturing overhead $16 Variable selling and administrative $16 Fixed costs: Fixed manufacturing overhead $229,200 Fixed selling and administrative $138,550 What is the unit product cost for the month under absorption costing
Answer:
Unitary production cost= $141
Explanation:
Giving the following information:
Units produced 9,550
Direct materials $35
Direct labor $66
Variable manufacturing overhead $16
Fixed manufacturing overhead= $229,200
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary fixed manufacturing overhead:
unitary fixed manufacturing overhead= 229,200/9,550
unitary fixed manufacturing overhead= $24
Unitary production cost= 35 + 66 + 16 + 24
Unitary production cost= $141
Financial information for Forever 18 includes the following selected data (in millions): ($ in millions) 2018 2017 Net income $ 156 $ 188 Preferred stock dividends $ 23 $ 18 Average shares outstanding (in millions) 300 400 Stock price $ 11.87 $ 10.82 Required: 1-a. Calculate earnings per share in 2017 and 2018
Answer:
$0.4433 and $0.425
Explanation:
The computation of the earning per share is shown below:
Earning per share is
= (Net income - preference dividend) ÷ (average shares outstanding)
For 2017, it is
= ($156 - $23) ÷ (300 shares)
= $0.4433
For 2018, it is
= ($188 - $18) ÷ (400 shares)
= $0.425
We simply applied the above formula so that the earning per share could be come for both the years
Lasso Corporation manufactures Part B89 in its internal processing division. Lasso produces units of Part B89 annually. The annual costs to produce Part B89 at the level of units include: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Total cost All of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier. Assuming Lasso can purchase units of the part from the Nadal Parts Company for each, and the facilities currently used to make the part could be rented out to another manufacturer for a year, what should Lasso do? A. Make the part and save per unit. B. Buy the part and save per unit. C. Make the part and save per unit. D. Buy the part and save per unit.
Answer:
Make the part and save $3.00 per unit.
Explanation:
The numbers are missing, so I looked for a similar question to fill in the blanks:
The annual costs to produce Part B89 at the level of 9,000 units include:
Direct materials $3.00 Direct labor $8.00 Variable manufacturing overhead $4.00 Fixed manufacturing overhead $3.00 (non-avoidable)Total cost $18.00All of the fixed manufacturing overhead costs would continue whether Part B89 is made internally or purchased from an outside supplier. Assuming Lasso Corporation can purchase 9,000 units of the part from the Nadal Parts Company for $20.00 each, and the facilities currently used to make the part could be rented out to another manufacturer for $18,000 a year, what should Lasso Corporation do?
we need to determine how much we can save by buying from Nadal = all avoidable costs can be saved = $18 - $3 = $15 per unit
net cost to buy = $20 - ($18,000 / 9,000) = $20 - $2 = $18 per unit
since the purchase cost is higher than the production costs, Lasso Corporation should keep producing the product.
Concord Corporation has several outdated computers that cost a total of $18000 and could be sold as scrap for $6000. They could be updated for an additional $2900 and sold. If Concord updates the computers and sells them, net income will increase by $9000. What amount would be considered sunk costs?
Answer:
$18,000
Explanation:
Sunk costs refers to a cost that has been expended and cannot be recovered or recouped.
With regards to the above, $18,000 was expended concord by corporations to purchase computers hence cannot be recovered. Therefore, it is a sunk cost.
Havermill Co. establishes a $330 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated receipts on that date represent $81 for Office supplies, $153 for merchandise inventory, and $30 for miscellaneous expenses. The find has a balance of $66. On October 1, the accountant determines that the fund should be increased by $66. The journal entry to record the reimbursement of the fund on September 30 Includes a:
a. Debit to Office Supplies for $81.
b. Credit to Merchandise Inventory for $153.
c. Credit to Cash for $330.
d. Debit Petty Cash for $264.
e. Credit to Cash for $66.
Answer:
a. Debit to Office Supplies for $81.
Explanation:
The journal entry for recording the reimbursement of the fund includes the office expense for $81 as it is used during the month of December also the same is to be debited i.e. office supplies for $81 with respect to the expenses incurred
Therefore the correct option is a
And, hence all the other options are incorrect
Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the first year of operations, Jackson produced 4,100 tons of plastic and sold 3,280 tons. In 2017, the production and sales results were exactly reversed. In each year, the selling price per ton was $2,400, variable manufacturing costs were 17% of the sales price of units produced, variable selling expenses were 11% of the selling price of units sold, fixed manufacturing costs were $3,075,000, and fixed administrative expenses were $500,000. a. Prepare income statements for each year using variable costing. b. Prepare income statements for each year using absorption costing. c. Reconcile the differences each year in net income under the two costing approaches.
Answer:
a.Income Statement using variable costing
2016 2017
Sales $7,872,000 $9,840,000
Less Cost of Sales ($1,338,240) ($1,672,800)
Opening Stock $0 $334,560
Add Cost of Goods Manufactured $1,672,800 $1,338,240
Less Closing Stock ($334,560) $0
Contribution $6,533,760 $8,167,200
Less Expenses :
Fixed manufacturing costs ($3,075,000) ($3,075,000)
Selling Expenses : Variable ($862,920) ($1,082,400)
Selling Expenses : Fixed ($500,000) ($500,000)
Net Income / (loss) $2,095,840 $3,509,800
b.Income Statement using absorption costing
2016 2017
Sales $7,872,000 $9,840,000
Less Cost of Sales ($3,798,240) ($5,362,800)
Opening Stock $0 $949,560
Add Cost of Goods Manufactured $4,747,800 $4,413,240
Less Closing Stock ($949,560) $0
Gross Profit $4,073,760 $4,477,200
Less Expenses :
Selling Expenses : Variable ($862,920) ($1,082,400)
Selling Expenses : Fixed ($500,000) ($500,000)
Net Income / (loss) $2,710,840 $2,894,800
c. Reconciliation of Absorption costing Net Income to variable costing profit
2016 2017
Absorption Costing Net Income $2,710,840 $2,894,800
Fixed Manufacturing Cost in Opening Stock $0 $615,000
Fixed Manufacturing Cost in Closing Stock ($615,000) $0
Variable Costing Net Income $2,095,840 $3,509,800
Explanation:
Part a.
Under Variable Costing, Only Variable Manufacturing Costs are treated as Product costs. Fixed Manufacturing costs and All Non-Manufacturing Costs are treated as period costs.
Part b
Under Absorption Costing, Both Variable Manufacturing Costs and Fixed Manufacturing costs are treated as Product costs. All Non-Manufacturing Costs are treated as period costs.
Part c.
The difference between the Net Income under Absorption Costing and Variable Costing is due to Fixed Manufacturing Costs that are deferred in Inventory. This needs to be reconciled accordingly.
Upon review of the effectiveness of a strategic business decision using evidence-based analytics, business leaders may reverse course. Refer to Highlight, "Unanticipated Consequences at FedEx" What factor(s) led to reversal of the new scheduling system? a) Restrictions on international air space were were not accounted for in the decision making b) The cost of upgrading the technology infrastructure was cost prohibitive. c) The new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours d) There was an inadequate number of aircraft to accommodate the new schedule
Answer: c. The new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours
Explanation:
Upon review of the effectiveness of a strategic business decision using evidence-based analytics, business leaders may reverse course.
The factor that led to the reversal of the new scheduling system is that the new system contained assumptions that did not consider critical factors such as changes in time zones, travel time across hemispheres, and pilot flying hours.
D. When incorporating, it is important to consider whether or not the company will conduct business internationally. 1. Summarize the impact of foreign exchange rates on the company’s financial statements. What risks do foreign exchange rates pose? Provide academically supported example(s) in your response
Answer with Explanation:
Foreign exchange rates can have significant impact on the company's financial statements because the spot rate at that date can be affect the value of the company's assets. It is very common in consolidated financial statement of a multinational companies.
The impact on the financial statements can be as under:
The fluctuation in currency value can under or over statement of assets, liabilities and Income & Expenses.The fluctuation makes the analysis of the financial statements meaningless. The performance of the company in a consolidated statement will be in a state that would not be better understood or time consuming by experts to develop understanding of what the financial statement is saying. It would be difficult for an ordinary person to understand the performance of the business.It can also also manipulate the value of the assets of the company because increase in devaluation of the currency means increase in inflation and vice versa.The value of the company acquired can be affected significantly which means that the investment (value of whole company) can turn into significant losses which means it can result reporting losses of in a consolidated financial statement. This would also result in decrease in the stock value of the group as a whole.The Herbertson Company leases machines to clients. Annual rentals are paid each year, with the first payment due on the day the lease begins. A machine with a book value of $12,000 is leased. Unguaranteed salvage value is $1,500. Lease term is six years. Herbertson's interest rate is 5%. What is the approximate annual lease payment? "Coursehero"
Answer:
$2,251.63
Explanation:
Calculation for the approximate annual lease payment
Since we looking for the approximate annual lease payment this means that our annual lease payment will be x and since the interest rate is 5% and we were been told that the first payment occured at the beginning of lease in which balance of 5 payments at the end of each year which means that we would find the PVA factors of (5%,5)
Hence,
x + x × Present value annuity factor (5%,5)
= $12,000
x + x(5.3295) = $12,000
5.3295x = $12,000
Now let divide the PVA of 5.3295 by $12,000 in order to get the approximate annual lease payment
x = $12,000 / 5.3295
x = $2,251.63
Therefore the approximate annual lease payment will be $2,251.63
New issues of municipal short term notes are available in which form?
Answer: book entry
Explanation:
A municipal bond, which is commonly referred to as a muni bond, can be defined as a bond that is issued by a particular territory or local government in order to finance public projects like airports, schools, roads, museums, seaports, and infrastructure. It should be noted that new issues of municipal short term notes are available in book entry form.
Quaker State Inc. offers a new employee a single-sum signing bonus at the date of employment. Alternatively, the employee can receive $8,600 at the date of employment plus $26,000 at the end of each of his first three years of service. Assuming the employee's time value of money is 8% annually, what lump sum at employment date would make him indifferent between the two options
Answer: $75,604.60
Explanation:
The lump sum that would make the employee indifferent between the two option is the one that is equal to the present value of the part payments.
Given a constant payment of $26,000 per year this will be the present value of an annuity.
Present Value of the Annuity = 26,000 * Present Value interest factor of an annuity, 3 years, 8%
= 26,000 * 2.5771
= 67,004.60
Total present Value = 8,600 + 67,004.60
= $75,604.60
If the lump sum offered was $75,604.60, employee would be indifferent.
In 2020, a customer buys 1 GE 10%, $1,000 par debenture, M '35, at 115. The interest payment dates are Jan 1st and Jul 1st. The bond is first callable in 2030 at 102. The yield to call on the bond is
Answer:
8.02%
Explanation:
the yield to call = {coupon + [(call price - market price)/n]} / [(call price + market price)/2]
coupon = $50call price = $1,020market price = $1,150n = 10 x 2 = 20YTC = {50 + [(1,020 - 1,150)/20]} / [(1,020 + 1,150)/2]
YTC = 43.50 / 1,085 = 4.01% x 2 (annual interest) = 8.02%
During the current year, Orr Company incurred the following costs: Research and development services performed by Key Corp. for Orr $ 150,000 Design, construction, and testing of preproduction prototypes and models 200,000 Testing in search for new products or process alternatives 175,000 In its income statement for the current year, what amount should Orr report as research and development expense
Answer:
$525,000
Explanation:
The amount to be recognized as research and development expense for the year includes the cost of research and development services performed by Key Corp. for Orr, the cost incurred on testing of pre-production prototypes and models as well as the cost of testing in search for new products or process alternatives,
In other words, all costs incurred would be expensed since no of them met the capitalization criteria as per generally acceptable accounting principles
On june the 1st 2016 falcon corp decided to repurchase its 10,000,000, 8% bond issue, maturing in 2023. the market price for the bonds on june 1st was 98. The carrying value at the time fof repurchase was 10,230,000. Make journal entries for repurchase of the bonds.
Answer:
June 1, 2016, outstanding bonds are repurchased at 98
Dr Bonds payable 10,000,000
Dr Premium on bonds payable 230,000
Cr Cash 9,800,000
Cr gain on extinguishment of bonds 430,000
Explanation:
Bonds have to be reported at historical cost plus any premiums or minus any discounts. Since the bonds were sold at a premium, the market interest must have been lower than the bonds' coupon. But market interest rates change over time, and now they are higher than the coupon that the bonds pay. This will result in a lower market price, and if the company repurchases them, the transaction will result in a gain since the bonds' carrying value is higher than the price paid to repurchase them.
One major benefit of using the Bank Feeds feature in QuickBooks Online is that as you _________________ or __________________ transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked ___________________. This makes the end-of-period bank reconciliation more efficient. Fill in the missing words in this statement.
Answer:
1. Exclude
2. Add
3. Reconciled
Explanation:
QuickBooks Online supports Bank feeds features, which in turn allows a user to perform ADDITION or EXCLUSION of transactions online, which results in such transaction are marked RECONCILED.
Hence, one of the major benefits of using the Bank Feeds feature in QuickBooks Online is that as you EXCLUDE or ADD transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked RECONCILED. This makes the end-of-period bank reconciliation more efficient.
What effective time management tools should human resources managers use to make effective use of their time when it comes to coping with demands, constraints, and choices confronting them
Answer:
The answer is below
Explanation:
They are various Time Management Tools in which an individual can use to manage his or her time effectively. Thus, human resources managers can use any of the listed time management tools in order to make effective use of their time when it comes to coping with demands, constraints, and choices confronting them:
1. To Do List
2. Calendar
3. Address Book
4. Notebook
Seth Silver had the following items of income during the taxable year: Interest income from a checking account $1,000 Interest income from corporate bonds purchased 5 years ago $2,050 Interest income from a municipal bond he purchased during the current year $250 Interest income from federal bonds (which are not Series EE bonds) purchased 2 years ago $750. On his current year tax return, what amount is taxable income?
a. $3,050
b. $3,300
c. $3,800
d. $4,050
Answer:
c. $3,800
Explanation:
Calculation for the amount of taxable income
Using this formula
Taxable income =Interest income from a checking account+Interest income from corporate bonds +Interest income from federal bonds
Let plug in the formula
Taxable income =$1,000+$2,050+$750
Taxable income=$3,800
Therefore on his current year tax return the amount of his taxable income will be $3,800
Wireless Solutions reports operating expenses of $855,000. Operating expenses include both rent expense and salaries expense. Prepaid rent increases during the year by $17,000 and salaries payable increases by $13,500. What is the cash paid for operating expenses during the year
Answer:
$858,500
Explanation:
Cash paid for operating expenses = Operating expenses + Prepaid rent increase - Salaries payable increase
= $855,000 +$17,000 - $13,500
= $858,500
The authorized service center is located in Boston. Because Cookie Creations values serving its customers, it pays the shipping to Boston for any mixers needing repair under Kzinski’s warranty terms. Based on past experience, Kzinski has found that approximately 10% of mixers are returned for repair or replacement. The average cost to ship a mixer to Boston is $60.The following transactions take place in 2020 and 2021.1. A total of 30 mixers are sold in 2020.2. Four of the mixers sold in 2020 are returned for repair in 2021. The total shipping cost for returning these four mixers to Boston is $210.3. A total of 40 mixers are sold in 2021.4. Two of the mixers sold in 2021 are returned for repair in 2021. The total shipping cost for returning these two mixers to Boston is $55.Calculate Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.Warranty liability $
Answer:
$180
Explanation:
Calculation to determine Cookie Creations’ warranty liability for the shipping costs at December 31, 2020.
Using this formula
Warrant liability=Numbers of mixers sold × Percentage of mixers returned for repair or replacement ×The average cost to ship a mixer
Let plug in the formula
Warrant liability=30 x 10% x $60
Warrant liability=$180
Therefore Cookie Creations’ warranty liability for the shipping costs at December 31, 2020 will be $180
The three-component model of creativity proposes that individual creativity essentially requires expertise, creative thinking skills, and ________.
Answer:
intrinsic task motivation.
Explanation:
The three-component model of creativity proposes that individual creativity essentially requires expertise, creative thinking skills, and intrinsic task motivation.
According to Teresa M. Amabile in her work at the Harvard Business school titled: "Componential theory associated with creativity" she stated that, the three (3) components or elements that individual creativity essentially requires are;
1. Dominant relevant expertise: it is expected that for an individual to be creative, he or she must have be a expert or even a professional in the field (domain).
2. Creative thinking skills: a creative individual is one who possess such abilities and skills to think out of the box and has great cognitive skills to process his thoughts individually.
3. Intrinsic task motivation: an individual who is creative is determined to achieve the best outcome or success in a task out of volition or personally developed interest.
Answer:
The three-component model of creativity proposes that individual creativity essentially requires expertise, creative thinking skills, and intrinsic task motivation.
Which of the following statements regarding when and where online consumers shop and buy is most accurate?
a. Eighty percent of online sales occur on weekdays.
b. The busiest shopping day is Saturday.
c. Only 55 percent of consumers say they visit Web sites from their place of work.
d. Most people buy online when they are depressed.
e. Favorite Web Sites for workday shopping and buying feature shoes or work attire.
Answer:
The correct answer is the option A: Eighty percent of online sales occur on weekdays.
Explanation:
To begin with, an study done by a group of different consultant companies have demostrated that when it comes to online shopping the consumers tend to buy more at web sites the days of the week from Monday to Friday, more specifically being Wednesday the most busy day of shopping from the consumers and reaching a peek of eighty percent of the online sales. Moreover, the same study have found that the most visited web sites and stores where the people buy were the ones related to travelling and tickets sales of events, so that means that the entertainment was the most searched sector. And finally only a thirty percent of the whole said that they shop online from their work place.
If a gourmet cooking store encourages customers to sample fresh baked apple pie in order to encourage purchases of pie pans and rolling pins they are engaging in
Answer:
Sensory retailing.
Explanation:
If a gourmet cooking store encourages customers to sample fresh baked apple pie in order to encourage purchases of pie pans and rolling pins they are engaging in sensory retailing.
In marketing, sensory retailing can be defined as a strategic process which involves the creation of an atmosphere that attracts potential customers and has a positive influence or effect on them.
Generally, sensory retailing involves the process of appealing to the customer's taste, smell, sight, tactile, and olfactory senses, thus, affecting their perception, judgment and behavior positively.
Hence, when properly designed, harnessed and applied, it boost purchasing behaviors, increases sales revenues, improve customer loyalty, and enhances good vibes or mood among end consumers.
Some investment projects require that a company increase its working capital. Under the net present value method, the investment and eventual recovery of working capital should be treated as:
Answer:
Both an initial cash outflow and future cash inflow
Explanation:
Net value cash flow is the different cash flows that happens at different times. It takes into account the initial cash outflow or capital investment and the amount that it would be getting in the future that is the future cash inflow.
The net present value gives us a difference between cash inflows and cash outflows in their present values over a period of time.
You establish a straddle on Fincorp using September call and put options with a strike price of $80. The call premium is $7.00 and the put premium is $8.50. a. What is the most you can lose on this position
Answer: $15.50
Explanation:
From the question, we are informed that someone establish a straddle on Fincorp using September call and put options with a strike price of $80 and that the call premium is $7.00 and the put premium is $8.50.
The most that can be lose on this position will be the addition of the call premium and the put premium. This will be:
= $7.00 + $8.50
= $15.50
Average fixed cost A. increases as output rises. B. remains constant as output rises. C. equals marginal cost for the first unit of output. D. decreases as output rises.
Answer:
D
Explanation:
Average fixed cost = total fixed cost / output
Fixed cost is cost that does not vary with output.
for example electricity tariff
for example, total fixed cost is $10,000. what is average fixed cost when output is 500 and 1000
$10,000 / 500 = $20
$10,000 / 1000 = $10
We can see that average fixed cost decreased as output increased
Ottawa, Inc. provides the following data: 2019 2018 Cash Accounts Receivable, Net Merchandise Inventory Property, Plant, and Equipment, Net Total Assets For the year ending December 31, 2019: Net Credit Sales Cost of Goods Sold () Gross Profit Calculate the days' sales in inventory for 2019. (Use 365 days for any calculations. Round any intermediate calculations and your final answer to two decimal places.)
Answer:
days sales in inventory = 85.88 days
Explanation:
The numbers are missing, so I looked for a similar question:
"Ottawa, Inc. provides the following data: 2019 2018 Cash $23,000 $22,000 Accounts Receivable, Net 37,000 37,000 Merchandise Inventory 55,000 25,000 Property, Plant, and Equipment, Net 127,000 96,000 Total Assets $242,000 $180,000 For the year ending December 31, 2019: Net Credit Sales $300,000 Cost of Goods Sold (170,000) Gross Profit $130,000"
first we must determine the inventory turnover ratio:
inventory turnover ratio = COGS / average inventory
average inventory = ($55,000 + $25,000) / 2 = $40,000
COGS = $170,000
inventory turnover ratio = $170,000 / $40,000 = 4.25
days sales in inventory = 365 / inventory turnover ratio = 365 / 4.25 = 85.88 days
A firm's total cost of production is: a. marginal cost plus average cost. b. variable cost plus fixed cost. Please select the best answer from the cho
Answer:
b is the best answer ok plz
Suppose marginal cost is constant and equal to 50 and marginal revenue equals 100 - 10Q. A profit-maximizing monopolist will set quantity equal to:
Answer: 5
Explanation:
From the question, we are informed that the marginal cost is constant and equal to 50 and marginal revenue equals 100 - 10Q.
For a profit-maximizing monopolist, we should note that the marginal revenue will be equated to the marginal cost. Therefore:
100 - 10Q = 50
100 - 50 = 10Q
50 = 10Q
Q = 50/10
Q = 5
Therefore, a profit-maximizing monopolist will set quantity equal to 5.
e can deposit $5,000 at the end of each six-month period for the next 12 years and earn annual interest of 8.5%, compounded semi-annually. What will the value of the investment be after 12 years
Answer:
$201,805.67
Explanation:
The formula for calculating future value = A (B / r)
B = [(1 + r)^n] - 1
A = amount
R = interest rate = 8.5 / 2 = 4.25%
N = number of years = 12 x 2 = 24
(1.0425^24 - 1 ) / 0.0425 = 40.361134
40.361134 x $5,000 = $201,805.67