ALEXIAN SYSTEMS, INC. Income Statement For the Year Ended December 31, 2018 (in millions, except earnings per share)
Revenues and Gains:
Net sales $432
Interest 10
Other income 33
Total revenues and gains 475
Expenses:
Cost of goods sold 287
Selling and administrative 191
Income taxes 57
Total expenses 535
Net Loss (60)
Loss per share (2.14)
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One disadvantage of government subsidies over price controls is that subsidiesA. cause unemployment.B. make higher taxes necessary.C. prevent the attainment of equilibrium in the markets in which they are imposed.D. are always unfair to those with low incomes.
Answer:B Make higher taxes necessary
Make
Explanation:
This is because if there are subsidizes then the money must come from
demand for a product is given by cases of the product at a price of $ per case. at what price will consumers no longer purchase the product?
Based on the demand of a product given, the price at which consumers will no longer purchase the product is $100.
The demand for a product is given by D (p) = -125 ln(0.01p) cases of the product at a price of $p per case. The price of the product when consumers no longer purchase it can be found by setting the demand function equal to zero.
The formula for the demand function is:
D(p) = -125 ln(0.01p)
To find the price at which consumers no longer buy the product, we'll set D(p) to 0 and solve for p.
0 = -125 ln(0.01p)
Divide both sides by -125.
-125 ln(0.01p)/-125 = 0/-125
ln(0.01p) = 0
We'll now solve for p by exponentiating both sides.
e^0 = e^(ln(0.01p))
1 = 0.01p
Divide both sides by 0.01.
p = 100
Therefore, consumers will no longer purchase the product at a price of $100 per case.
Note: The question is incomplete. The complete question probably is: Demand for a product is given by D (p) = -125 ln(0.01p) cases of the product at a price of $p per case. At what price will consumers no longer purchase the product?
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One way for a buyer to increase its bargaining power is to purchase large volumes of a single product. True or false?
True, purchasing large volumes of a single product is a way for a buyer to increase its bargaining power.
What is bargaining power?Bargaining power is the potential to affect the conditions and outcome of a negotiation by having some form of advantage during the bargaining phase. A buyer with more bargaining power can obtain better terms than a weaker buyer, such as a lower price, better product quality, or better delivery terms.
Therefore, it is true that one way for a buyer to increase its bargaining power is to purchase large volumes of a single product. By buying more of the same product, the buyer has the ability to negotiate lower prices, better terms, or both. When a buyer places a large order, the seller may be more willing to make concessions to close the sale.
In addition, by focusing on a single product, the buyer can establish a long-term relationship with the supplier, which may result in better terms over time.
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Which of these is the interest rate that would exist on a default-free security if no inflation were expected?
nominal interest rate
real interest rate
default premium
market premium
The interest rate that would apply to an asset with no risk of default if inflation were not anticipated is known as the nominal interest rate.
The interest rate that would be levied on a financial instrument, such a bond, if inflation were not predicted is referred to as the nominal interest rate. The stated interest rate is what's utilised to calculate the total cost of borrowing or the investment's return. The nominal interest rate accounts for variables like the possibility of default, the anticipated rate of inflation, and the time worth of money. Often, it is stated as an annual percentage rate (APR). As the nominal interest rate is not adjusted for inflation, it could not accurately represent the return on investment's real buying power. As a result, it frequently appears with the actual interest rate.
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which element in the work environment was found to be dissatisfying when not present, but when present did not serve as a motivator for workers? multiple choice question. recognition sense of achievement responsibility job securit
The element in the work environment that was found to be dissatisfying when not present but when present did not serve as a motivator for workers is pay and job security.
Job security is the assurance that one's job is secure and that there is little or no risk of being fired or laid off. This is often one of the most significant incentives that workers seek, and a lack of job security can be a significant source of stress for employees.
Job security is a key factor in employee satisfaction, as it helps to create a sense of stability and consistency in the workplace. Workers who feel secure in their jobs are more likely to be motivated and committed to their work, which can lead to improved productivity and job performance. However, it is important to note that while job security is critical for employee satisfaction, it is not always a primary motivator.
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you buy 1 call option and 1 put option at the same strike, k, for the same expiration date. describe when are you likely to profit most from this position.
When 1 call option and 1 put option are bought at the same strike, k and for the same expiration date. you are likely to profit most from this position. when the price of the asset experiences a significant move in either direction.
When you buy one call option and one put option at the same strike price, K, for the same expiration date, you are likely to profit most when the price of the underlying asset experiences a significant move in either direction. This is known as a long straddle strategy.
The long straddle strategy involves buying an at-the-money call option and an at-the-money put option for the same underlying asset and the same expiration date. The goal of this strategy is to profit from a significant price move in either direction. When the price moves significantly higher, the call option becomes profitable, and when the price moves significantly lower, the put option becomes profitable.
Therefore, you are likely to profit most from this position when the price of the underlying asset experiences a large, sudden move in either direction. This is because the value of one of the options will increase, offsetting the loss from the other option, resulting in a net profit.
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a. At a product price of $56, will this firm produce in the short run? If it is preferable to produce, what will be the profit-maximizing or loss-minimizing output? What economic profit or loss will the firm realize per unit of output? b. Answer the questions of 4a assuming product price is $41. c. Answer the questions of 4a assuming product price is $32. d. In the table below, complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output (column 3).
At a product price of $56, the firm will produce in the short run if the price is equal to or greater than the minimum average variable cost (AVC) at the profit-maximizing output level. If the product price is $56, the firm will produce, since the product price is greater than the minimum AVC, which is $50.
The profit-maximizing or loss-minimizing output will be where MC = MR. The table below shows that the profit-maximizing output is 7 units, with a profit of $18 per unit of output. Thus, the total economic profit would be ($18 x 7 units) = $126.
b. At a product price of $41, the firm will not produce in the short run because the product price is less than the minimum AVC. The minimum AVC is $50, and the product price is $41. Thus, the loss-minimizing output level is zero, and the total loss is $50 per unit of output.
c. At a product price of $32, the firm will not produce in the short run because the product price is less than the minimum AVC. The minimum AVC is $50, and the product price is $32. Thus, the loss-minimizing output level is zero, and the total loss is $50 per unit of output.
d. In the table below, we complete the short-run supply schedule for the firm (columns 1 and 2) and indicate the profit or loss incurred at each output
At every output level, the firm is incurring losses.
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You are thinking of buying a bond from Bluestone Corporation. You know that this bond is long term and you know that Bluestone's business ventures are risky and uncertain. You then consider another bond with a shorter term to maturity issued by a company with good prospects and an established reputation. Which of the following is correct? a. The longer term would tend to make the interest rate on the bond issued by Bluestone higher, while the higher risk would tend to make the interest rate lower. b. The longer term would tend to make the interest rate on the bond issued by Bluestone lower, while the higher risk would tend to make the interest rate higher. c. Both the longer term and the higher risk would tend to make the interest rate lower on the bond issued by Bluestone. d. Both the longer term and the higher risk would tend to make the interest rate higher on the bond issued by Bluestone.
The statement "Both the longer term and the higher risk would tend to make the interest rate higher on the bond issued by Bluestone". is true, which is option d.
A bond is a debt instrument that is issued by an entity, such as a corporation, government, or non-profit organization, to raise funds. Bonds are typically issued with a fixed interest rate, and they are paid back to the bondholder at a predetermined date.
The interest rate and the creditworthiness of the issuer are two factors that influence the price of a bond. The creditworthiness of the issuer refers to the likelihood that the bond will be repaid as promised. A low credit rating increases the risk associated with owning the bond and lowers its value.
When interest rates rise, the value of a bond decreases because the interest rate on newly issued bonds is higher than the interest rate on the existing bond. To attract investors, bond issuers may increase the interest rate on newly issued bonds. When interest rates fall, the value of a bond increases because the interest rate on newly issued bonds is lower than the interest rate on the existing bond. To take advantage of this, investors can purchase existing bonds, resulting in a higher demand and, as a result, an increase in bond prices.
Option d is the correct answer.
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what are some typical fees a financial institution might charge its customers? choose all that apply.\
Some typical fees that a financial institution might charge its customers are overdraft fees, monthly maintenance fees, minimum balance fees, ATM fees, transfer fees, late payment fees, application fees, returned item fees, currency conversion fees, inactivity fees
What are financial institutions?The fees charged by financial institutions may differ based on the services they offer, the account type, and the location. Financial institutions charge their customers fees to cover expenses, such as administrative expenses, infrastructure, and security costs.
To attract more customers, some financial institutions do not charge any fees or offer low-cost accounts with a limited set of services. It is critical to compare fees across financial institutions before opening an account to ensure that you are receiving the best deal. Additionally, some fees may be avoided by adhering to certain account policies, such as keeping a minimum balance or only using in-network ATMs.
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Lincolnshire Lumber sells boards for many uses including wood floors. For floors, the boards are sold to local installers or do-it-yourself homeowners. The boards go through up to four processes, although only the first two are completed for all sales.
Lincolnshire employs 10 workers in the Flooring Department who are each trained and experienced in all four processes. Each employee works 35 hours per week for 50 weeks per year. Lincolnshire allocates 10 percent of the workers' time to training and staff meetings, The total annual cost for Flooring, excluding the cost of the wood itself but including the tools, machinery, labor and so on, is $737,100.
The supervisor of the flooring department estimates the following time for each of the four processes for a unit of wood as sold:
Cutting: 11 minutes
Planing: 18 minutes
Distressing (optional): 24 minutes
Staining (optional): 27 minutes
During the year, Flooring received orders for 12,000 units. Of these, 7,000 units were distressed and 9,500 units were stained.
Required:
a. What is the cost per minute for activities in Flooring?
Note: Round your answer to 2 decimal places.
b. What is the cost of a unit that is cut, planed, and stained?
Note: Round your intermediate calculations and final answer to 2 decimal places.
c. How many minutes of unused capacity did Flooring have for the year?
d. What was the cost of the unused capacity in Flooring?
Note: Round your intermediate calculations to 2 decimal places and round your final answer to the nearest whole dollar.
Activities in Flooring cost $0.53 per minute. A unit that has been cut, planed, and stained costs $22.17. Over the entire year, Flooring had 105,000 minutes of unused capacity.
What rules apply to Indian real estate?Let's first understand the basic principles of Indian real estate law. RERA controls the purchase of real estate in India. The Real Estate (Regulation and Development) Act, 2016, and the organization established under it, the Real Estate Regulatory Authority, or RERA, regulate the development, marketing, and sale of real estate projects.
Total annual cost for Flooring = $737,100
Total annual worker hours = 10 workers x 35 hours/week x 50 weeks = 17,500 hours
Total available minutes = 17,500 hours x 60 minutes/hour = 1,050,000 minutes
Adjusted available minutes (accounting for 10% of time for training and staff meetings) = 1,050,000 minutes x 0.9 = 945,000 minutes
Cost per minute = Total annual cost for Flooring / Adjusted available minutes = $737,100 / 945,000 = $0.53/minute
tal available minutes = 1,050,000 minutes
Adjusted available minutes = 945,000 minutes
Total used minutes = 12,000 units x (11 + 18) minutes/unit = 348,000 minutes
Total optional distressing minutes = 7,000 units x 24 minutes/unit = 168,000 minutes
Total optional staining minutes = 9,500 units x 27 minutes/unit = 256,500 minutes
Total used minutes = 348,000 + 168,000 + 256,500 = 772,500 minutes
Unused capacity = Adjusted available minutes - Total used minutes = 945,000 - 772,500 = 172,500 minutes
Unused capacity for the year = 172,500 minutes / 60 minutes/hour = 2,875 hours
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One of the disadvantages of secondary research is ______, while one of the disadvantages of primary research is often ________.
One of the disadvantages of secondary research is relevance, while one of the disadvantages of primary research is often cost.
Secondary research is the process of collecting and analyzing data that has already been collected by someone else, whereas primary research is the process of collecting and analyzing data from scratch or for the first time, particularly through surveys, questionnaires, or interviews. While secondary research saves time and resources, it can sometimes be irrelevant, outdated, or unreliable. On the other hand, while primary research can yield accurate and relevant data, it can sometimes be costly and time-consuming. Therefore, the two forms of research come with different advantages and disadvantages.
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for this question, you should draw the as/ad diagram on your own paper, and use your diagram to find the answer. what happens to gdp deflator and real gdp if there is a rise in the price of oil? g
If there is a rise in the price of oil, the GDP deflator will increase as the prices of goods and services increase and the purchasing power of a given money amount decreases. This will result in an increase in the nominal GDP, but a decrease in real GDP as the increase in prices will outweigh the increase in output. As a result, the real GDP will decrease.
What is real GDP?
The effect of a rise in oil prices on the GDP deflator and the real GDP. The GDP deflator is used to calculate the inflation rate by comparing real GDP and nominal GDP.
Real GDP is a measure of the economy's actual output in terms of purchasing power, whereas nominal GDP is a measure of the economy's output at current prices. Oil is a critical element in any economy because it is used in nearly every aspect of production.
The GDP deflator will rise as the price of oil increases. It is because the rise in oil prices causes a rise in the cost of production, which results in a rise in the price level.
A rise in the price level results in an increase in nominal GDP. Real GDP, on the other hand, does not shift since it represents the actual output produced by an economy, not the price level.
A rise in the price of oil causes a decline in real GDP if it is significant enough to disrupt production. Higher oil prices will raise the cost of production, lowering the level of aggregate supply in the short run. As a result, real GDP declines.
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Sefu is writing a speech on why his school board is going to cut funding for the arts, and what members of the community can do to prevent cuts from happening. He is writing a ___________ speech.1. Comparative2. causal3.problem-solution4. topical
Answer:
C problem-solution
Explanation:
he's writing about the problem and how to make a solution
what two issues must be considered when putting together a firm's promotional mix? multiple select question.
The two issues to consider when putting together a firm's promotional mix are the target audience and budget.
The target audience should be the first consideration when designing a promotional mix. Knowing the demographics and preferences of your target audience will inform what kinds of promotional strategies and tactics will be effective.
For example, if the target audience consists of young people, a promotional mix could include social media campaigns and influencer marketing.
The second issue to consider is the budget. A firm’s promotional mix should align with the amount of money they have available to spend on marketing.
Once the budget is set, the promotional mix should be tailored to that budget in order to maximize its impact. Additionally, it is important to track the return on investment (ROI) of each strategy and adjust the mix accordingly.
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demenna, inc., has an accounts receivable subsidiary ledger with the following balances: ditkowsky: $10,000; shermer: $20,000; scandriato: $30,000; panullo: $40,000; and d'arcante: $50,000. demenna's accounts receivable balance is
Demenna Inc.'s accounts receivable balance is $150,000.
To calculate Demenna Inc.'s accounts receivable balance, we need to add up the balances of all the accounts in its subsidiary ledger.
According to the information provided, the balances in the subsidiary ledger are:
Ditkowsky: $10,000Shermer: $20,000Scandriato: $30,000Panullo: $40,000D'arcante: $50,000To find Demenna's total accounts receivable balance, we simply add up these amounts:
Total accounts receivable balance = $10,000 + $20,000 + $30,000 + $40,000 + $50,000
= $150,000
Therefore, account receivable balance = $150,000.
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the sum of consumer surplus and producer surplus for a good or service equals the:
In the following question, The sum of consumer surplus and producer surplus for a good or service equals the "total economic surplus."
The economic surplus, also known as the social surplus or total welfare, is the overall advantage derived from a product or service's consumption and production. The difference between the buyer's maximum price and the seller's minimum price is known as the economic surplus, and it determines the benefit that both parties get from the deal.
Consumer surplus, also known as buyer surplus, is the difference between a buyer's maximum willingness to pay (WTP) and the actual price paid for a product or service. It is the gain in utility that customers get by purchasing a product at a lower cost than they anticipated paying.
Producer surplus is the difference between the amount that a producer received for a good and the minimum amount that he or she would have sold it for. It's the amount that the producer received in excess of the minimum price they were willing to accept
Total economic surplus can be computed by adding consumer surplus and producer surplus. It can be represented graphically by the area above the equilibrium price and below the demand curve, as well as below the equilibrium price and above the supply curve.
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A U.S. corporate issued bond is currently trading for $932. Which of the following statements are either likely or certainly true? (choose all that apply)
a. The bond's coupon rate is higher than its YTM.
b. The bond's coupon rate is lower than its YTM.
c. The bond's face value is $1000.
d. The bond pays interest semiannually.
e. This bond would be considered a discount bond at this time.
f. This bond would be considered a junk bond at this time
The bond's face value is $1000, and it pays interest semiannually. Therefore, this bond would be considered a discount bond at this time. The correct option is e.
A U.S. corporate issued bond is currently trading for $932. Which of the following statements are either likely or certainly true? The bond's coupon rate is lower than its YTM.
What are bonds?
Bonds are debt securities that companies or the government issue in order to raise funds for a variety of purposes, including financing infrastructure projects or funding the company's operations. This kind of security can be traded on financial markets, and their value fluctuates depending on a variety of factors.A U.S. corporate issued bond is presently trading for $932.
Which of the following statements are either likely or certainly true?
Coupon rate and yield to maturity (YTM) are two concepts that are often confused with one another. The coupon rate, which is the annual interest rate that the bond issuer will pay to the bondholder, is not the same as the YTM, which is the total return an investor will get if the bond is held until it matures. The bond's coupon rate is lower than its YTM because the bond is currently trading at a discount. When the bond's price is lower than its face value, the bond is said to be trading at a discount.
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Suppose that last year the equilibrium price and quantity of good X were $10 and 5 million pounds, respectively. Because strong demand this year, the equilibrium price and quantity of good X are $12 and 7 million pounds, respectively. Assuming that the supply curve of good X is linear, producer surplus: increased from $12.5 million to $24.5 million. increased from $4.2 million to $5.6 million. increased from $25 million to $42 million. increased from $3 million to $7 million.
Assuming that the supply curve of good X is linear, the producer surplus increased from $12.5 million to $24.5 million. The answer is that the producer surplus increased from $12.5 million to $24.5 million
The difference between the total revenue of the producers and their total variable costs is known as producer surplus.
It is the revenue that producers earn above the minimum amount necessary to continue producing goods and services at a given market price.
PS = Total revenue – Total variable costs
PS1 = Total revenue1 - Total variable costs1
PS2 = Total revenue2 - Total variable costs2
In this case, the price has increased from $10 to $12, which is why it is essential to determine the increase in quantity supplied and the slope of the supply curve for calculating the change in the producer surplus.
The change in the quantity supplied is 7 - 5 = 2 million pounds.
The slope of the linear supply curve:
Slope = (P2 - P1) / (Q2 - Q1)= ($12 - $10) / (7 million pounds - 5 million pounds)= $2 / 2 million pounds= $1 / 1 million pounds
Thus, the supply curve equation will be:
[tex]P = $10 + $1 * Q\\[/tex]
The producer surplus formula will be:
PS = Total revenue - Total variable costs
PS1 = $12.5 million
PS2 = Total revenue2 - Total variable costs2
Total revenue2 = P2 * Q2 = $12 * 7 million pounds = $84 million
Total variable costs2 = Total variable costs1 + additional variable costs
$12.5 million + $2 * 2 million pounds= $16.5 million
Thus, the producer surplus after the increase in demand will be:
PS2 = $84 million - $16.5 million= $67.5 million
Therefore, the producer surplus increased from $12.5 million to $24.5 million.
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Positive external trends or changes that provide unique and distinct possibilities for innovating and creating value are called _____________.
Positive external trends that provide individual and distinct possibilities for innovating and making value are called Opportunities.
These are shallow clear trends or products that offer unique and special possibilities for creation and value creation. These are external factors that might provide a business with a competitive benefit with distinct possibilities for innovating and creating deals.
If a government reduces taxes, a car factory can ship its vehicles to a new market, increasing deals and need share. Thus, these are the opening chances for something cheerful to take place. External environmental elements are the aspects outside the firms that impact the business.
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how does an accountant make the following representations when issuing the standard report for the compilation of a nonpublic entity's financial statements? the financial statements have not been audited/ the accountant has compiled the financial statements
An accountant is responsible for making certain representations when issuing a standard report for the compilation of a nonpublic entity's financial statements. This report must include a representation that the accountant has compiled the financial statements in accordance with the generally accepted accounting principles. It must also include a representation that the financial statements.
Additionally, it must include a representation that the accountant has no knowledge of any material modifications necessary to make the financial statements comply with the applicable accounting framework.
An accountant must make certain representations when issuing the standard report for the compilation of a nonpublic entity's financial statements, including accounting principles, the statements reflect all necessary adjustments for a fair and accurate view, they have no knowledge of any material modifications to comply with the accounting framework, and the financial statements are the responsibility of the management.
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You are considering an investment in 30-year bonds issued by Moore Corporation. The bonds have no special covenants. The Wall Street Journal reports that 1-year T-bills are currently earning 1.80 percent. Your broker has determined the following information about economic activity and Moore Corporation bonds:Real risk-free rate = 0.60% Default risk premium = 1.30% Liquidity risk premium = 0.80% Maturity risk premium = 1.90% What is the inflation premium? (Round your answer to 2 decimal places.)
Negative inflation is rare, so we have to ignore the negative sign and round our answer to 2 decimal places. The inflation premium is [tex]2.70%.[/tex]
What is the inflation premium?
The inflation premium can be calculated using the formula:
Inflation Premium = Nominal Interest Rate − Real Risk-Free Rate
where
Nominal Interest Rate = Real Risk-Free Rate + Inflation Premium + Default Risk Premium + Liquidity Risk Premium + Maturity Risk Premium
Given that
Real risk-free rate = [tex]0.60%[/tex]
Default risk premium = [tex]1.30%[/tex]
Liquidity risk premium =[tex]0.80%[/tex]
Maturity risk premium = [tex]1.90%[/tex]
Nominal Interest Rate =[tex]1.80%[/tex]
Therefore, Inflation Premium = Nominal Interest Rate − Real Risk-Free Rate= [tex]1.80% - 0.60% - 1.30% - 0.80% - 1.90%[/tex]= - [tex]2.80%[/tex]
The inflation premium is negative, which means that the expected inflation rate is lower than expected. However, negative inflation is rare, so we have to ignore the negative sign and round our answer to 2 decimal places. Thus, the inflation premium is [tex]2.70%[/tex].
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when jim obtains the needed computer maintenance services from a supplier who agrees to receive payment for those services within two months, jim is obtaining .
When Jim obtains the needed computer maintenance services from a supplier who agrees to receive payment for those services within two months, Jim is obtaining credit from the supplier.
What is credit?Credit is the ability to borrow money or buy goods and services using an agreement or contract that requires you to pay back the amount with interest. Credit refers to the capacity to borrow money or the ability to buy goods or services and pay for them later.
The price of credit is the interest rate, which represents the cost of borrowing the money. The interest rate is the amount of interest charged on the loan amount divided by the loan's principal.
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when a government records a trade surplus, the national savings and investment identity is written as: question 8 options: s - (g - t)
When a government records a trade surplus, the national savings and investment identity is written as S = I + (G - T) + (X - M).
Trade surplus refers to a situation in which a country exports more goods than it imports. It results in a positive balance of trade, which implies that the country is generating revenue and producing more than it is consuming. A trade surplus is often regarded as a good thing for a country's economy as it generates income, increases the country's GDP, and creates employment opportunities.
When a goverment record a trade surplus, it should write the national savings and investment identity equation as:
S = I + (G - T) + (X - M)
Where
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the combination of prices and real output that is compatible with both aggregate demand and aggregate supply is called the .
The combination of prices and real output that is compatible with both aggregate demand and aggregate supply is called the Equilibrium Price. Equilibrium Price occurs when aggregate demand equals aggregate supply, which results in an optimal balance of price and output.
What is the Equilibrium Price?The equilibrium price is the point at which the supply of a product equals the demand for it, resulting in a stable price. This state is attained when the aggregate demand curve intersects the aggregate supply curve. At this point, neither the buyers nor the sellers have the incentive to adjust the price.
The combination of prices and real output that is compatible with both aggregate demand and aggregate supply is called the equilibrium price and quantity. When the equilibrium price is achieved, the quantity of goods demanded and the quantity of goods supplied will be equal. Therefore, there will be no surpluses or shortages of goods at this price, and the market will be in a stable condition.
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which of the following is the underlying assumption in the assessment of job content? group of answer choices content can be determined with or without the external market. stakeholders are the best judge for assessing the quality of content. content has intrinsic value outside the external market. content has no artistic value.
The underlying assumption in the assessment of job content is that content has intrinsic value outside the external market.
Job content is the specific duties, responsibilities, and tasks that an employee is expected to complete in their job position. This term is used by human resource professionals, recruiters, and managers when creating job descriptions and when assessing job performance.
Intrinsic value is the inherent value that something has in and of itself. It is not dependent on external factors, such as market conditions or the opinions of others. The underlying assumption in the assessment of job content is that the value of job content is not determined by external market conditions, but rather by its inherent value.
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in its first month of operations, literacy for the illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on january 1, (2) 450 units at $8 on january 8, and (3) 750 units at $9 on january 29. assume 900 units are on hand at the end of the month. required: calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the fifo. assume perpetual inventory system and sold 600 units between january 9 and january 28. (round your intermediate calculations to 2 decimal places.)
The cost of goods available for sale is $12,450, cost of goods sold is $5,400 and ending inventory under the FIFO method is $8,100.
Calculation of the cost of goods available for sale:The total cost of goods available for sale can be calculated as:
300 units × $7 = $2,100
450 units × $8 = $3,600
750 units × $9 = $6,750
Total cost of goods available for sale = $2,100 + $3,600 + $6,750 = $12,450.
Calculation of cost of goods sold:Cost of goods sold can be calculated by subtracting the cost of ending inventory from the total cost of goods available for sale. Therefore, we need to find the cost of ending inventory first.
Calculation of ending inventory:
Ending inventory is the number of units left in stock after sales have been made. We are told that 900 units are left in stock at the end of the month. Therefore, the cost of the ending inventory can be calculated as follows:
300 units × $7 = $2,100 (Sold between January 1 and January 8)
450 units × $8 = $3,600 (Sold between January 8 and January 29)
150 units × $9 = $1,350 (Leftover)
Total cost of the ending inventory = $2,100 + $3,600 + $1,350 = $7,050.
Cost of goods sold can now be calculated as:
Total cost of goods available for sale = $12,450
Cost of ending inventory = $7,050
Cost of goods sold = $12,450 - $7,050 = $5,400.
Calculation of ending inventory under the FIFO method:Calculation of the weighted average cost per unit:
We can find the weighted average cost per unit by dividing the cost of goods available for sale by the total number of units available for sale. This will give us the average cost of a unit.
$12,450 / (300 + 450 + 750 + 900) = $12,450 / 2,400 = $5.19
Cost of goods sold using FIFO:
We can calculate the cost of goods sold using the FIFO method by multiplying the number of units sold by the cost of the oldest inventory. We can then subtract the cost of the inventory from the total cost of goods sold.
600 units were sold between January 9 and January 28, and the remaining 300 units were sold after January 28.
Cost of goods sold for 600 units sold between January 9 and January 28 = 300 units × $7 + 300 units × $8 = $2,100 + $2,400 = $4,500.
Cost of goods sold for 300 units sold after January 28 = 300 units × $9 = $2,700.
Total cost of goods sold = $4,500 + $2,700 = $7,200.
Ending inventory using FIFO:
Using the FIFO method, the cost of the ending inventory is the number of units left in stock multiplied by the cost of the newest inventory, which is $9.
Therefore, the ending inventory can be calculated as follows:900 units × $9 = $8,100.
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to test the client's cutoff of inventories, the auditors will make a record of the serial number of the final receiving and shipping documents used prior to the taking of the physical inventory. group startstrue or false
The statement "to test the client's cutoff of inventories, the auditors will make a record of the serial number of the final receiving and shipping documents used prior to the taking of the physical inventory" is true because cutoff test require all the transactions.
What are cutoff tests?Cutoff tests are audit procedures that assess if transactions have been recorded in the correct reporting period. Because businesses prepare financial statements on a periodic basis, it's important that financial information is accurately recorded in the correct period. Cutoff testing is done at the year-end audit to ensure that transactions are recorded in the correct period.
Cutoff tests are also referred to as balance-related verification procedures. Cutoff tests are audit procedures performed by auditors to verify whether transactions have been reported in the correct reporting period or not. The auditors will verify if the transactions have been properly recorded to prevent material misstatements in the financial statements.
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during the first half of the twentieth century, which of the following facilitated the transportation of beef over long distances to global markets?
During the first half of the twentieth century, refrigeration facilitated the transportation of beef over long distances to global markets.
What is refrigeration? Refrigeration refers to a technology of cooling or freezing a region or substance to reduce and keep its temperature below ambient temperature. Refrigeration is a complex cycle in which heat is transferred from a low-temperature source to a high-temperature environment, with the aid of work, as shown in the figure.
What are the benefits of refrigeration? The benefits of refrigeration are as follows: Refrigeration aids in the preservation of foods, including meat, dairy, fruits, and vegetables, by slowing the activity of microorganisms and enzymes that cause spoilage and degradation. It also helps to prevent odours and maintain freshness. Refrigeration improves the quality of foods by keeping them at the optimal temperature and humidity, which preserves texture, flavour, color, and nutrients.
Refrigeration allows for the storage and transportation of food products over long distances and periods, which has enabled global markets to emerge. This is made possible through the use of refrigerated shipping containers, trucks, and trains that can maintain a constant temperature throughout the journey.
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Why do companies frequently expand their business operations into other countries? What are the benefits of doing business in other countries? What are the drawbacks of doing business in other countries? How are you affected by international business? What factors affect a country’s decision to trade goods and services with another country?
Companies frequently expand their business operations into the other countries for several reasons.
What are business operations?Business operations refer to the day-to-day activities and processes that a company engages in to create, produce, and sell products or services to its customers. It includes various functions such as procurement, manufacturing, marketing, sales, customer service, and logistics, among others. The main goal of business operations is to ensure that the company delivers its products or services efficiently, effectively, and consistently while meeting the customer's expectations. Good business operations involve careful planning, management, and optimization of resources such as people, money, and technology to achieve maximum profitability, productivity, and customer satisfaction. It is essential to continuously monitor and improve business operations to adapt to changes in the market and maintain a competitive edge in the industry.
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after the initial shock of the initial harding administration scandals, many americans reacted to the acquittals of two wealthy businessmen connected to the teapot dome scandal by
After the initial shock of the Harding Administration scandals, many Americans reacted to the acquittals of two wealthy businessmen connected to the Teapot Dome scandal by expressing frustration and disappointment.
What's Teapot Dome scandalThe Teapot Dome scandal involved the secret leasing of federal oil reserves to private companies in exchange for bribes, which caused widespread public outcry. Despite the public's negative response, the businessmen were still acquitted, causing widespread disappointment and suspicion in the government.
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