How are wages for a particular job determined?

by the federal Wage and Hour Department

by the amount of inflation in the economy

by the equilibrium between supply and demand for workers

by advertisements in the newspaper or online

Answers

Answer 1

Answer:

by the equilibrium between supply and demand for workers

Explanation:

Wages are the amount to pay workers for a particular job when employed. Therefore, determining the wages for a particular job is mostly dependent "on the equilibrium between supply and demand for workers, " and sometimes location.

This is because the higher the number of workers available, the lesser the employers would be willing to increase the wage level of employees given the fact that they can easily find another employee. However, where there is a lesser number of employees for a particular job, the employers would be willing to increase the employees' wages to entice them.

Answer 2

According to the labor market equilibrium, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

The term "labor market," sometimes referred to as the "job market," describes the supply and demand for labor, with employers meeting the demand and employees meeting the supply.

The supply and demand of labor, which are met by employees and employers respectively, are referred to as the labor market.Both macroeconomic and microeconomic perspectives on the labor market are important because they provide useful information on employment and the state of the economy as a whole.Two crucial macroeconomic indicators are labor productivity rates and unemployment rates.

Therefore, The wages for a particular job are determined by the equilibrium between supply and demand for workers. Thus, the correct answer is option (c).

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Related Questions

Question 11 (3 points)
When considering the costs and benefits of a decision, you should do something as
long as
a) the benefits are less than the costs
b) the costs are less than the benefits
c) the costs and benefits are both high
d) the costs and benefits are both low

Answers

Answer:b

Explanation:

I think it is


Logan is working on a game development team that will be in charge of creating
storyboards and documenting the game plot, ultimately creating the design
documents needed to make the game. What specific team is Logan working on?

1)production team
2)pre-production team
3)post-production team
4)art design team

Answers

Logan is working in the Pre-Production team

Cindy's apartment complex is offering renters insurance through their insurance company. The insurance company charges an annual premium of $565.00 which can be paid in equal payments throughout the year with her monthly rent. Cindy's monthly rent is currently $789.00. What will Cindy's new rent be if she includes the renters insurance?

Answers

Answer:

$836.08 per month

Explanation:

In order to calculate Cindy's new monthly rent, we would simply need to divide the renter's insurance by 12 since there are 12 months in a year. and then add that product to her monthly rent like so...

565.00 / 12 = 47.08

789 + 47.08 = 836.08

Finally, we can see that Cindy's new rent after including the renters insurance would be $836.08 per month

Kapoor Company uses job-order costing. During January, the following data were reported:
a. Materials purchased on account: direct materials, $98, 500: indirect materials, $14, 800.
b. Materials issued: direct materials, $82, 500: indirect materials, $8, 800.
c. Labor cost incurred: direct labor, $67, 000: indirect labor, $18, 750.
d. Other manufacturing costs incurred (all payables), $46, 200.
e. Overhead is applied on the basis of 110 percent of direct labor cost.
f. Work finished and transferred to Finished Goods Inventory cost $230, 000.
g. Finished goods costing $215, 000 were sold on account for 140 percent of cost.
h. Any over-or under applied overhead is closed to Cost of Goods Sold.
1. Prepare journal entries to record these transactions.
2. Prepare a T-account for Overhead Control. Post all relevant information to this account. What is the ending balance in this account?
3. Prepare a T-account for Work-in-Process Inventory. Assume a beginning balance of $10, 000, and post all relevant information to this account. Did you assign any actual overhead costs to Work-in-Process Inventory? Why or why not?

Answers

Answer:

a. Direct Material Purchases (Dr.) $98,500

Indirect Material Purchase (Dr.) $14,800

Accounts Payable (Cr.) $113,300

b. Direct Material Issued (Dr.) $82,500

Indirect Material Issued (Dr.) $8,800

Cost of Goods Manufactured (Cr.) $91,300

c. Direct Labor Cost Incurred (Dr.) $67,000

Indirect Labor Cost Incurred (Cr.) $18,750

Manufacturing Conversion Cost (Cr.) $85,750

d. Manufacturing Overhead (Dr.) $46,200

Factory Overhead (Cr.) $46,200

Explanation:

Journal entries are prepared for the issuance of material and labor cost to the manufacturing department. These transactions are recorded to identify the cost of factory overhead and conversions costs.

The following transactions took place for Smart Solutions Inc. 2017 a. July 1 Loaned $71,000 to an employee of the company and received back a one-year, 9 percent note. b. Dec. 31 Accrued interest on the note. 2018 c. July 1 Received interest on the note. (No interest has been recorded since December 31.) d. July 1 Received principal on the note. Required: Prepare the journal entries that Smart Solutions Inc. would record for the above transactions.

Answers

Answer:

Jul 1, 2017

Dr Notes receivable $71,000

Cr Cash $71,000

Dec 31, 2017

Dr Interest receivable $3,197

Cr Interest revenue $3,197

Jul 1, 2018

Dr Cash $6,390

Cr Interest receivable $3,197

Cr Interest revenue $3,197

Jul 1, 2018

Dr Cash $71,000

Cr Notes receivable $71,000

Explanation:

Preparation of the journal entries that Smart Solutions Inc. would record

Jul 1, 2017

Dr Notes receivable $71,000

Cr Cash $71,000

(Being To record given loan to employee and receipt a note)

Dec 31, 2017

Dr Interest receivable $3,197

(71000*9%*6/12)

Cr Interest revenue $3,197

(Being To record interest accrued)

Jul 1, 2018

Dr Cash $6,390

(3197+3197)

Cr Interest receivable $3,197

Cr Interest revenue $3,197

(71000*9%*6/12)

(Being To record receipt of the interest on maturity date)

Jul 1, 2018

Dr Cash $71,000

Cr Notes receivable $71,000

(Being To record receipt of the full principal)

You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semi-annual interest payment. The bond rate is 6.6% per year payable semi-annually. You plan to hold the bond for 4 years, selling the bond immediately after you receive the interest payment. If your desired nominal yield is 3% per year compounded semi-annually, what will be your minimum selling price for the bond?

Answers

Answer:

Minimum selling price for the bond = $11350.38

Explanation:

Given - You have just purchased a municipal bond with a $10,000 par

             value for $9,500. You purchased it immediately after the previous

             owner received a semi-annual interest payment. The bond rate is

             6.6% per year payable semi-annually. You plan to hold the bond for

             4 years, selling the bond immediately after you receive the interest

              payment. If your desired nominal yield is 3% per year compounded

              semi-annually.

To find - What will be your minimum selling price for the bond?

Proof -

Formula for Bond value is -

Bond value = [tex]\frac{Coupon Amount}{( 1+ Interest rate)^{1} } + \frac{Coupon Amount}{( 1+ Interest rate)^{2} } + \frac{Coupon Amount}{( 1+ Interest rate)^{3} } + .....\frac{Coupon Amount}{( 1+ Interest rate)^{n} }[/tex]

As given,

Coupon Rate = 6.6%

⇒Coupon Rate for semi-annual = 3.3%

and hereby time period becomes double i.e 8 years.

Now,

Interest rate = 3%

For semi-annual , interest = 1.5%

Now,

Coupon amount = 10,000×3.3% = 330

Now,

Bond value = 330 ×PVIF(1.5% , 8) + 10,000×IVAF(1.5%, 8)

                   = 330×7.486 + 10,000×0.888

                   = 11350.38

∴ we get

Minimum selling price for the bond = $11350.38

Which aspect of production planning might make use of a Gantt chart?
A.
routing
B.
loading
C.
scheduling
D.
dispatching
E.
inspection

Answers

I think it would be C

define liquidity risk.​

Answers

Explanation:

Liquidity risk occurs when an individual investor, business, or financial institution cannot meet its short-term debt obligations.

Six Sigma programs: Group of answer choices suggest that all activities can be controlled, employee empowerment is the best control tool, and 100 percent control is possible. consist of a disciplined, statistics-based system aimed at producing not more than 2.5 defects per million iterations for a manufacturing or assembly process. All of these. are based on three principles: (1) all work is a statistically controllable process; (2) no well-controlled process allows variability; and (3) defect-free work requires tight statistical controls. utilize advanced statistical methods to improve quality by reducing defects and variability in the performance of business processes.

Answers

Answer: utilize advanced statistical methods to improve quality by reducing defects and variability in the performance of business processes.

Explanation:

Six Sigma simply refers to a set of tools that are utilized for the process improvement. They are the management techniques that are used for the enhancement of the business processes through the reduction in the occurence of an error. This helps in boosting the performance and the improvement in the company's profits, and as well boosting the morale of employees.

From the options given, the answer is that six sigma programs "utilize advanced statistical methods to improve quality by reducing defects and variability in the performance of business processes".

Choose the correct category for the items from Sun Company's perspective.
1) Real Assets
2) Financial Assets
a. Land purchased by Sun Company from a local finance company
b. Sun Company's administration building, which houses the finance department
c. Sun Company's inventories of raw materials
d. Accounts receivable: money owed to Sun Company by other companies who have purchased products on credits
e. Sun Company's corporate checking accounts

Answers

Answer:

a. Land purchased by Sun Company from a local finance company

1) REAL ASSETS, the land exists as a physical asset regardless of the company's transaction.

b. Sun Company's administration building, which houses the finance department

1) REAL ASSETS, the building exists as a physical asset regardless of the company's transaction.

c. Sun Company's inventories of raw materials

1) REAL ASSETS, the inventories exists as a physical asset regardless of the company's transaction.

d. Accounts receivable: money owed to Sun Company by other companies who have purchased products on credits

2) FINANCIAL ASSETS, accounts receivable is a financial concept, not a physical asset

e. Sun Company's corporate checking accounts

2) FINANCIAL ASSETS, checks is a financial concept that represent money, not a physical asset

Cincinnati Exporters wants to raise $40 million to expand its business. To accomplish this, it plans to sell 22-year, $1,000 face value, semiannual coupon bonds. The bonds will be priced to yield 6.85 percent and coupon rate of 5.72 percent. What is the minimum number of bonds it must sell to raise the money it needs

Answers

Answer:

Minimum number of units to be issued = 45,791.4 units

Explanation:

The units of the bonds to be sold to raise the money equals to the price of the bonds divided by the sum to be raised

The price of a bond is the present value (PV) of the future cash inflows expected from the bond discounted using the yield to maturity.

These cash flows include interest payment and redemption value

The price of the bond can be calculated as follows:

Step 1

PV of interest payment

Semi-annual coupon rate = 5.72/2 = 2.86 %

Semi-annual Interest payment =( 2.86 %×$1000)= $28.6

Semi annual yield = 6.85%/2 = 3.42%

PV of interest payment  

= A ×(1- (1+r)^(-n))/r

A- interest payment, r- yield -3.42%, n- no of periods- 2 × 22 = 44 periods

= 28.6× (1-(1.0342)^(-44)/0.0342)= 645.82

 

Step 2  

PV of redemption value (RV)

PV = RV × (1+r)^(-n)

RV - redemption value- $1000, n- 7, r- 4.5%  

= 1,000 × (1+0.0342)^(-2×22)

= 1000 × 1.0342^(-44)= 227.7

Step 3

Price of bond = PV of interest payment + PV of RV

645.82 + 227.7= 873.525

Minimum number of units to be issued = $40 million/873.5= 45,791.4 units

 

Minimum number of units to be issued = 45,791.4 units

When the number of units produced equals the number of units sold, ______. Multiple select question. absorption costing net income is greater than variable costing net income absorption costing total expense is greater than variable costing total expense absorption costing net income is equal to variable costing net income all fixed overhead incurred flows to the income statement under both costing methods absorption costing total expense is less than variable costing total expense absorption costing net income is less than variable costing net income

Answers

Answer:

absorption costing net income is equal to variable costing net income.

Explanation:

A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.

Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.

Additionally, negotiated transfer prices can be defined as the final price reached between the buyer (consumer) of finished goods and services and the trader (seller) of such goods and services.

When the number of units produced equals the number of units sold, absorption costing net income is equal to variable costing net income as all the fixed overhead are entered into the income statement and thus, there wouldn't be any change in inventory.

An example of two way communication

Answers

Answer:

Radio, telephone, and computer-aided dispatch systems etc.

Explanation:

Hope it helps,

Pls mark me as the brainliest

Thank you

Name one thing you're afraid of when you think of college and career.

Answers

Answer:

finances

Explanation:

College is expensive and people that go to college have an expectation of landing a great paying job.  Reality is that is not always the case.  Often leading to a long time of paying of student debts.

Cahuilla Corporation predicts the following sales in units for the coming four months:
April May June July
Sales in units 240 280 300 240
Each month's ending Finished Goods Inventory in units should be 40% of the next month's sales. March 31 Finished Goods inventory is 96 units. A finished unit requires five pounds of direct material B at a cost of $2.00 per pound. The March 31 Raw Materials Inventory has 200 pounds of direct material B. Each month's ending Raw Materials Inventory should be 30% of the following month's production needs. The budgeted purchases of pounds of direct material B during May should be:_________.
a. 1,008 lbs.
b. 1,854 lbs.
c. 1,422 lbs.
d. 276 lbs.
e. 288 lbs.

Answers

Answer:

Purchases= 1,854 pounds

Explanation:

To calculate the direct material purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Production= 280*5 + (300*0.4)*5= 2,000 pounds

Desired ending inventory= [(300*0.6)*5* + (240*0.4)*5]*0.3= 414 pounds

beginning inventory= (280*0.4)*5= (560) pounds

Purchases= 1,854 pounds

a) What do you understand by the term qualitative research?
-) Briefly examine five differences between qualitative and
JESTION THREE (3)
What is a research problem and why is it important?
Examine five (5) characteristics of a good problem stater​

Answers

Answer:

Kindly check explanation

Explanation:

An indepth analysis or research which involves non-numerical findings and as such may involve the use of categorical variables such as texts and other non-numerical data in its analysis may be termed as a qualitative research. It is aimed at establishing a comprehensive distinction or categorization of variables in a non-numerical format.

The main differences between qualitative and quantitative research include :

Qualitative research are in textual or non-numeric format while quantitative are numeric

Qualitative research have fixed responses as they use discrete or continous numeric variables while quantitative research aren't fixed and are usually unstructured.

Qualitative research cannot be subjected to statistical analysis as they are non-numeric while quantitative research can be subjected to statistical evaluation.

When conducting a research, the intended problem which one aims to solve with the outcome of the research is referred to as the problem statement.

A good research problem should be clear and lucid enough.

It should address a very specific area of research

It should be rendered in an interpretable manner and open to data collection.

It should be be robust to lead to further investigation.

PLEASE HELP WITH THIS

Answers

Answer:

1: B

2: A

3: D

4:C

5: C

6: C

7: D

8: Q

Explanation:

I'm leaning this rn

A multinational engineering consulting firm that wants to provide resort accommodations to special clients is considering the purchase of a three-bedroom lodge in upper Montana that will cost $220,000. The property in that area is rapidly appreciating in value because people anxious to get away from urban developments are bidding up the prices. If the company spends an average of $400 per month for utilities and the investment increases at a rate of 0.75% per month, how long would it be before the company could sell the property for $100,000 more than it has invested in it

Answers

Answer:

59.5 months

Explanation:

initial investment x (1 + appreciation rate)ⁿ = initial investment + $100,000 + ($400 x n)

$220,000 x (1 + 0.75%)ⁿ = $320,000 + $400n

1.0075ⁿ = $320,000/$220,000 + $400n/$220,000

1.0075ⁿ = 1.4545 + 0.001818n

I tried to solve it by trial and error:

50 months:

1.453 ≠ 1.5454

60 months:

1.566 ≈ 1.564 ⇒ Almost

61 months:

1.577 ≠ 1.565

59 months:

1.554 ≈ 1.562 ⇒ Almost

59.5 months:

1.56 = 1.56  

Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers. Calculate Ramon and Sammy's opportunity cost of each task. Please round each answer to the nearest tenth.

Answers

Answer and Explanation:

The computation is shown below:

It is given that Ramon would completed an essay question in approx 15 minutes and for graphing question it finished approx 30 minutes

On the other hand Sammy would completed an essay question in approx 20 minutes and for graphing question it finished approx 35 minutes

a) Ramon's opportunity cost of completing an essay question is

= 15 ÷30

= 0.5 graphing question

b) Ramon's opportunity cost of completing a graphing question is

= 30 ÷ 15

= 2 essay question

c) Sammy's opportunity cost of completing an essay question is

= 20 ÷ 35

= 0.57 graphing question

d) Sammy's opportunity cost of completing a graphing question is

= 35 ÷ 20

= 1.75 essay question

Organizers of an outdoor summer concert in Toronto are concerned about the weather conditions on the day of the concert. They will make a profit of $42,000 on a clear day and $12,000 on a cloudy day. They will make a loss of $6,000 if it rains. The weather channel has predicted a 52% chance of rain on the day of the concert. Calculate the expected profit from the concert if the likelihood is 11% that it will be sunny and 37% that it will be cloudy.

Answers

Answer:

$5,940

Explanation:

Calculation for the expected profit

Expected profit= (42,000*0.11)+(12,000*0.37)+(-6,000*0.52)

Expected profit=4,620+4,440+(-3,120)

Expected profit=$5,940

Therefore Expected profit will be $5,940

Income Statement Project
2018 2019 2020
Revenue:
Book Sales
Ticket Sales
Total Revenue:
Expenses:
Salary
Depreciation
Supplies
Rent Insurance
Total Expense:
Net Income/Loss:
Directions: Build an income statement using the steps provided below.
1) The book store received $50,000 in book sales for 2018, with a 20% increase in revenue each year.
2) Jack's book store received $15,000 each year in ticket sales to book signing events.
3) Find the Total Revenue each year for 2018-2020 using cell referencing.
4) Jack's book store paid $16,000 in employee salaries in 2018. Each year his employee salary cost increased by 25%.
*5) Jack purchased store furniture for $25,000 that is expected to be used over the next 5 years.
6) Jack bought $3,000 in supplies in 2018 and supplies costing $1,000 were used up each year.
'7) Jack signed a contract to pay $800/month for rent between 2018-2020.
8) Jack's book store pays $500 each month to cover insurance.
9) Find the Total Expense each year for 2018-2020 using the SUM function.
10) Find the Net Income/Loss using cell referencing.

Answers

Answer:

Jack's Bookstore

Income Statement Projection:

                                    2018          2019         2020

Revenue:

Book Sales               $50,000    $60,000    $72,000

Ticket Sales                 15,000       15,000       15,000

Total Revenue:        $65,000    $75,000     $87,000

Expenses:

Salary                       $16,000     $20,000    $25,000

Depreciation               5,000          5,000         5,000

Supplies                       1,000           1,000          1,000

Rent                            9,600          9,600         9,600

Insurance                   6,000          6,000         6,000

Total Expense:      $37,600       $41,600    $46,600

Net Income/Loss: $27,400       $33,400    $40,400

Explanation:

a) Data and Calculations:

Book Sales for 2019  = $60,000 ($50,000 * 1.20)

Book Sales for 2020 = $72,000 ($60,000 * 1.20)

Salaries for 2019 = $20,000 ($16,000 * 1.25)

Salaries for 2020 = $25,000 ($20,000 * 1.25)

Depreciation expense per year = $5,000 ($25,000/5) using the straight-line method

Supplies Expense per year = $1,000 ($3,000/3)

Rent Expense per year = $9,600 ($800 * 12)

Insurance Expense per year = $6,000 ($500 * 12)

Amrik started a business on 1 January 2017 and purchased a machine costing $18 000. He decided to depreciate the machine at 20% per annum using the reducing (diminishing) balance method. No depreciation was to be charged in the year of disposal. The machine was up sold for \$13 30 300 on 1 July 2018. What was the profit or loss on the sale of the machine? A Loss $1100 B Loss $4700 C Profit $1780 D Profit $2500 ОА Ов Ос OD

Answers

Answer: A. Loss $1,100

Explanation:

Value at the end of the first year after depreciation:

= 18,000 * (1 - 20%)

= $14,400

No depreciation was charged in the year of sale which is 2018 so only a year of depreciation applies.

Profit (loss) = Sales price - Net book value

= 13,300 - 14,400

= -$1,100

Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as:
a.
External user reports.
b. External purpose financial statements
c. Non-specific user reports
d. General purpose financial​

Answers

Answer:

General purpose financial reports

Explanation:

From the word 'General', a financial statements which is issued to include a range of fonacila reports without a focus on a certain or specific aspect of a financial disclosure is called a general purpose financial report. The general purpose accounting report is usually issued in other to serve as an investment report to external users, lenders or investors. These accounting report usually incorporates reports including ; Statement of cashflow, balance sheet, shareholders equity, audit report income statement and other available reports.

The term that describes Financial reports which is prepared for a variety of external users that could not get accounting information for their own specific needs are D: General purpose financial.

In accounting, General purpose financial report are been prepared variety of external users especially those that couldn't obtain the accounting information for their own specific needs.

It serves as financial reports that serve many variety of function in domain of accounting.

Therefore, option D is correct.

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Megasoft Corporation develops, produces, and markets a wide range of computer software including the Windows operating system. Megasoft reported the following information about Net Sales Revenue and Accounts Receivable (all amounts in millions).June 30, 2016 June 30, 2015Accounts Receivable, Net of Allowance for Doubtful Accounts of $310 and $360 $ 16,950 $ 15,700Net Revenues 68,000 62,000According to its Form 10-K, Megasoft recorded Bad Debt Expense of $22 and did not recover any previously written-off accounts during the year ended June 30, 2016.Required:What amount of accounts receivable was written off during the year ended June 30, 2016? (Enter your answer in millions.)What was Megasoft’s receivables turnover ratio in 2016? (Round your answer to 1 decimal place.)

Answers

Answer:

Megasoft Corporation

1. The amount of accounts receivable that was written off during the year ended June 30, 2016 was:

= $72 million

2. Receivable Turnover Ratio in 2016

= 2016 Net Sales/Average receivables

= $68,000/$16,660 = 4.1

Explanation:

a) Data and Calculations:

                                        June 30, 2016   June 30, 2015

Net Sales Revenue              $68,000            $62,000

Accounts Receivable

(all amounts in millions)      $17,260             $16,060

Allowance for

Doubtful Accounts of                  310                    360

Net Accounts receivable   $ 16,950             $ 15,700

Bad Debts Expense = $22

Allowance for Doubtful Accounts

Date                 Account Titles          Debit      Credit

June 30, 2015 Beginning balance                  $310

2016                 Bad Debts Expense  22

2016                 Accounts receivable                  72

June 30, 2016 Ending balance    $360

Accounts Receivable

Date                 Account Titles          Debit      Credit

June 30, 2015 Beginning balance $16,060

2016                 Net sales                 68,000

2016                 Allowance for Doubtful               $72

2016                 Cash                                       66,728

June 30, 2016 Ending balance                     $17,260

Average receivables = $16,660 ($16,060 + $17,260)/2

Receivable Turnover Ratio in 2016

= 2016 Net Sales/Average receivables

= $68,000/$16,660 = 4.1

Cootributions of political institutions​

Answers

Answer:

Contributions of political institutions are diverse, and very important for any society.

Explanation:

Institutions contribute to the law and order of a nation. They also help define and determine the government structure of a place. Institutions also promote economic development by incentivizing investment if certain specific institutions are in place, like property rights enforcement, and impartial laws. In fact, this last aspects has been explored at length by economists like Amartya Sen and Daron Acemoglu.

The 2021 income statement of Adrian Express reports sales of $20,710,000, cost of goods sold of $12,600,000, and net income of $1,980,000. Balance sheet information is provided in the following table.
ADRIAN EXPRESS
Balance Sheets
December 31, 2021 and 2020
2021 2020
Assets
Current assets:
Cash $840,000 $930,000
Accounts receivable 1,775,000 1,205,000
Inventory 2,245,000 1,675,000
Long-term assets 5,040,000 4,410,000
Total assets $ 9,900,000 $8,220,000
Liabilities and Stockholders' Equity
Current liabilities $ 2,074,000 $1,844,000
Long-term liabilities 2,526,000 2,584,000
Common stock 2,075,000 2,005,000
Retained earnings 3,225,000 1,787,000
Total liabilities and stockholders' equity
$9,900,000 $8,220,000
Industry averages for the following profitability ratios are as follows:
Gross profit ratio 45 %
Return on assets 25 %
Profit margin 15 %
Asset turnover 8.5 times
Return on equity 35 %
Required:
1. Calculate the five profitability ratios listed above for Adrian Express. (Round your answers to 1 decimal place.)
2. Do you think the company is more profitable or less profitable than the industry average?
More profitable
Less profitable

Answers

Answer:

Adrian Express

1. Five Profitability Ratios:

Gross profit ratio: = 39.2%

Return on assets = 20%

Profit margin = 9.6%

Asset turnover = 2.1 times

Return on equity = 37.4%

2. I think the company is:

Less profitable

than the industry average.

Explanation:

a) Data and Calculations:

Sales Revenue        $20,710,000

Cost of goods sold $12,600,000

Gross profit                $8,110,000

Net income               $1,980,000

ADRIAN EXPRESS

Balance Sheets

December 31, 2021 and 2020

                                                                          2021                  2020

Assets

Current assets:

Cash                                                              $840,000            $930,000

Accounts receivable                                     1,775,000            1,205,000

Inventory                                                      2,245,000            1,675,000

Current assets                                          $4,860,000          $3,810,000

Long-term assets                                        5,040,000            4,410,000

Total assets                                             $ 9,900,000         $8,220,000

Liabilities and Stockholders' Equity

Current liabilities                                     $ 2,074,000          $1,844,000

Long-term liabilities                                   2,526,000           2,584,000

Common stock                                          2,075,000           2,005,000

Retained earnings                                    3,225,000             1,787,000

Total Equity                                               5,300,000           3,792,000

Total liabilities & stockholders' equity   $9,900,000         $8,220,000

Industry averages for the following profitability ratios are as follows:

Gross profit ratio 45 %

Return on assets 25 %

Profit margin 15 %

Asset turnover 8.5 times

Return on equity 35 %

Gross profit ratio: = Gross profit/Sales * 100

= $8,110,000/$20,710,000 * 100

= 39.2%

Return on assets = Net income/Assets * 100

= $1,980,000/$9,900,000 * 100

= 20%

Profit margin = Net Income/Sales * 100

= $1,980,000/$20,710,000 * 100

= 9.6%

Asset turnover = Sales/Total Assets

= $20,710,000/$9,900,000 = 2.1 times

Return on equity = Net Income/Total Equity * 100

= $1,980,000/$5,300,000 * 100

= 37.4%

in the united states ,dollar bills, , and dimes are representative money

Answers

Answer:

In the United States, dollar bills, nickels, and dimes are Representative money It can be exchanged for a valuable good, was used in systems involved a "gold standard", and can be traded for a commodity such as silver.

The following data from the just completed year are taken from the accounting records of Mason Company: Sales $ 659,000 Direct labor cost $ 88,000 Raw material purchases $ 135,000 Selling expenses $ 104,000 Administrative expenses $ 49,000 Manufacturing overhead applied to work in process $ 209,000 Actual manufacturing overhead costs $ 221,000 Inventories Beginning Ending Raw materials $ 8,600 $ 10,200 Work in process $ 5,400 $ 20,200 Finished goods $ 78,000 $ 25,600 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement.

Answers

Answer:

1. Schedule of cost of goods manufactured.

Beginning Work in Process                                                      $ 5,400

Direct labor cost                                                                      $ 88,000

Direct Material Costs :

Beginning Inventory                                             $ 8,600

Add Raw material purchases                           $ 135,000

Less Ending Inventory                                      ($ 10,200)    $ 133,400

Manufacturing Overhead applied                                       $ 209,000

Ending Work in Process                                                        ($ 20,200)

Cost of goods manufactured                                                 $415,600

Under-applied overheads = $12,000 ($ 221,000 - $ 209,000)

2. Schedule of cost of goods sold.

Beginning Finished Goods Inventory                                   $ 78,000

Add Cost of Goods Manufactured                                       $ 415,600

Less Ending Finished Goods Inventory                               ($ 25,600)

Cost of goods sold                                                                $467,400

Add Under-applied overheads                                               $12,000

Adjusted Cost of goods sold                                                $479,400

3. Income statement.

Sales                                                                   $ 659,000

Less Cost of Goods Sold                                  ($479,400)

Gross Profit                                                          $179,600

Less Expenses

Selling expenses                          $ 104,000

Administrative expenses              $ 49,000     ($153,000)

Net Income (Loss)                                                $26,600

Explanation:

See the schedules including the income statement prepared above.

In 2020, Simon, age 12, has interest income of $7,500 on funds he inherited from his grandmother, and no earned income. He has no investment expenses. His parents have a taxable income of $82,250 and file a joint return. Assume that no parental election is made. If required, round the tax computations to the nearest dollar.
Simon's net unearned income is $.
Simon's allocable parental tax is $.
Simon's total tax is $.

Answers

Answer:

Simon's net unearned income is $5,300. Simon's allocable parental tax is $1,166. Simon's total tax is $1,276.

Explanation:

Simon net unearned income = Earned income - Standard deduction - Statutory deduction

= 7,500 - 1,100 - 1,100

= $5,300

Parents filling together with a gross income of $82,250 will fall under the 22% tax bracket.

Simon allocable parental tax = 5,300 * 22%

= $1,166

At kiddie tax rates, maximum unearned income to be taxed is $2,200.

Simon falls under 10% range in 2020.

Tax = (2,200 - $1,100 deduction) * 10%

= $110

Simon total tax = Allocable parental tax + tax on unearned income

= 1,166 + 110

= $1,276

If a company's scope is too big what is likely to happen?

Answers

Answer:

The company will lose direction and focus.

Explanation: ;)

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