1) Regarding Extract 3A, it appears that the government is planning to increase public spending by 10%, which could lead to demand-pull inflation. As prices increase, individuals with fixed incomes or low wages may struggle to afford basic necessities, leading to a decline in their standard of living.
2) To address this inflation, the Central Bank and National Treasury may consider implementing monetary policy measures, such as increasing interest rates or reducing the money supply, to reduce demand and control inflation.
1) Demand-pull inflation occurs when demand exceeds the available supply of goods and services, causing prices to rise. The increase in public spending could result in increased demand for goods and services, thereby driving up prices.
This type of inflation can have a significant impact on the distribution of income and wealth among economic participants. As prices increase, individuals with fixed incomes or low wages may struggle to afford basic necessities, leading to a decline in their standard of living. Additionally, those who hold assets that appreciate with inflation, such as real estate or stocks, will benefit from the inflation, potentially widening the wealth gap.
2) To address this inflation, the Central Bank and National Treasury may consider implementing monetary policy measures, such as increasing interest rates or reducing the money supply, to reduce demand and control inflation. Fiscal policy measures, such as reducing government spending or increasing taxes, could also help address the inflation. However, these measures may also have an impact on the economy and should be carefully considered to ensure they do not cause unintended consequences. Overall, it is important to address inflation in a timely and effective manner to maintain economic stability and promote equitable distribution of income and wealth.
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ABC, a U.S. company sends by fax an offer to sell to XYZ, a French company, 1,000,000 widgets for $1.00 a widget. XYZ sends back a counter offer of $.75 a widget. ABC rejects the counter offer and sells the widgets to GHK Inc. instead. XYZ then sends an acceptance of the original offer of $1.00. ABC has a contract with XYZ and must give them the 1,000,000 widgets for $1.00 a wideget because they accepted the offer.
A. True
B. False
Answer:
The correct option is B. False.
Further explanation is given below in the explanation section.
Explanation:
Offer From ABC Company to XYZ Company:
1,000,000 widgets to sell.
Selling Price of 1 widget = $1.00
Total Price = $1,000,000
Counter Offer from XYZ company to ABC Company.
Selling Price = $0.75
Total Price = 0.75 x 1,000,000 = $750,000
But in the end, ABC company sold its widgets to GHK company.
The correct option to this question is false.
This case is false because here ABC sends an original offer of $1 but XYZ sent a counter offer of $0.75. This counter offer was then duly rejected by ABC.
XYZ cannot again confirm and accept the original offer of ABC because they have already rejected your claim and thus XYZ have to wait until ABC make them another offer.
Jenna Jeffries started her business baking dog treats by investing cash of $1,000. During May, its first month of operations, Jenna's Barkery had revenues of $3,000, all of which was collected in cash. She paid her assistant $1,000 in cash and purchased $200 of supplies on account. The business paid cash dividends of $500.
Required:
Determine the balance in Cash at the end of the month.
Answer:
Cash balance= $500
Explanation:
Giving the following information:
Started her business baking dog treats by investing cash of $1,000.
Had revenues of $3,000.
She paid her assistant $1,000 in cash.
The business paid cash dividends of $500.
The cash account is affected by every entrance or exit of money. For example, if a purchase is made on account, the cash balance is not affected.
Cash balance= -1,000 + 3,000 - 1,000 - 500
Cash balance= $500
The balance in cash at the end of the month is $500.
Calculation of the closing cash balance:Since Jenna Jeffries started her business baking dog treats by investing cash of $1,000. During May, its first month of operations, Jenna's Barkery had revenues of $3,000, all of which was collected in cash. She paid her assistant $1,000 in cash and purchased $200 of supplies on account. The business paid cash dividends of $500.
So, the ending cash balance is
= -1,000 + 3,000 - 1,000 - 500
= $500
Hence, the balance in cash at the end of the month is $500.
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provide one concluding statement and two recommendations on the issue if human rights violation to communities
Human rights are fundamental rights that every person is entitled to, regardless of race, sex, nationality, religion, or any other characteristic. Human rights violation is a significant concern, especially for communities that suffer from discrimination, poverty, and marginalization. The following are a concluding statement and two recommendations on the issue of human rights violations to communities.
Concluding statement
Human rights violations to communities are a global problem that affects many people. Governments and societies must come together to protect these vulnerable communities from any form of abuse, exploitation, and discrimination. It is essential to promote respect for human rights and ensure that human dignity is upheld.Recommendations
Promote awareness and education about human rights: Promoting education and awareness on human rights can help to prevent human rights violations. Educating communities on their rights can empower them to advocate for their rights and hold accountable those who violate their rights. Governments can invest in campaigns that sensitize communities on their rights and establish policies that support and protect human rights.Strengthen human rights institutions: Human rights institutions play a vital role in protecting human rights. Governments should invest in these institutions to enable them to carry out their mandates effectively. It is essential to ensure that the institutions are independent, have adequate resources, and are staffed with skilled and professional individuals. Governments should also provide a framework that allows these institutions to collaborate and share information on human rights violations.For such more questions on Human rights
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Bailey Corporation began business on January 2, 2019, with five employees. Its sick leave and vacation policy follow: Each employee is allowed 8 days of sick leave each year and one day of paid vacation leave for each month worked. The accrued vacation cannot be taken until the employee has been with the company 1 year. The sick leave, if not used accumulates to an 18- day maximum. The vacation leave accumulates for 5 years, but at any time the employee may request compensation in lieu of taking paid vacation leave. The company records its liability for both compensated absences on a quarterly basis. The daily gross wages for each employee are $180. Instructions: 1. Prepare the journal entries to record the compensated absences for the first quarter of 2019. Three sick days were used by employees in the first quarter. 2. Prepare a partial interim balance sheet showing the liability balances for compensated absences at March 31, 2019.
Answer:
Answer is explained in the explanation section below.
Explanation:
Given Data:
Business Began on = 2, January, 2019
Number of employees = 5
Sick leaves and vacation Policy:
Allowed Sick Leaves for each employee = 8 days/year
Paid Leave = 1 day/Month worked
Accrued Vacation condition = Worked for company for at least 1 year
Sick leaves if not used = 18 days accumulated.
Daily Gross Wages = $180 for each employee.
Part 1:
So, we know that,
The company records its liability to compensated absences for both sick leave.
on quarterly basis (5 x 2 = 10 days).
pay per each employ = $180.
The company records its liability to compensated absences for both sick leave.
On quarterly basis = 10 x 180 = $1800.
In a quarter each employee is allowed to avail 3 vacation days, so the total vacations days for 5 employees for a quarter 3 x 5=15 days
gross wage for each employee is $180 per day
for vacation days= 15 x 180= $2700
To record this transaction the journal entry is:
wages expenses $2700
Accumulated wages $2700
Part 2:
The partial interim balance compensation for future absences at March 31, 2019
= $1800 + $2700
= $4500.
In large organizations, safety compliance is usually managed by the HR department.
O A. True
O B. False
Answer:
B. False
Explanation:
hope this helps
g Novak Corp. started the year with $73200 in its Common Stock account and a credit balance in Retained Earnings of $53700. During the year, the company earned net income of $58600, and declared and paid $24400 of dividends. In addition, the company sold additional common stock amounting to $34200. As a result, the balance in retained earnings at the end of the year would be
Answer:
the ending retained earnings balance is $87,900
Explanation:
The computation of the ending retained earnings balance is shown below:
= opening retained earning balance + net income - dividend paid
= $53,700 + $58,600 - $24,400
= $87,900
Hence, the ending retained earnings balance is $87,900
We simply applied the above formula
The management of a company finds that while the cost of making a component part is Rs. 15, the same is available in the market at Rs. 13 with an assurance to continuous supply. The cost information for production is as follows:
Rs.
(i) Material
3.50
(ii) Direct labour
5.50
3.00
(iii) Other variable expenses
(iv) Fixed expenses
3.00
Total
15.00
Give a suggestion whether to make or buy this part. Give also your views in case the supplier reduces the price form Rs. 13 to Rs. 11.
In this scenario, it would be advisable for the company to continue buying the component from the supplier, as it offers a cost advantage over the in-house production. Moreover, the continuous supply assurance remains a valuable benefit.
To determine whether the company should make or buy the component part, we need to compare the costs of both options and consider other factors that may influence the decision.
In this case, the cost of making the component part is Rs. 15, which consists of material costs (Rs. 3.50), direct labor (Rs. 5.50), other variable expenses (Rs. 3.00), and fixed expenses (Rs. 3.00). On the other hand, the component is available in the market for Rs. 13 with a continuous supply assurance.
Initially, the company should consider buying the part rather than making it. The market price of Rs. 13 is lower than the cost of production at Rs. 15. By buying the component, the company can save Rs. 2 per unit. Additionally, the assurance of a continuous supply eliminates the potential risks associated with production delays or quality issues.
However, if the supplier reduces the price from Rs. 13 to Rs. 11, the decision becomes more nuanced. At this reduced price, the cost of buying the component would be lower than the cost of production. Buying the part for Rs. 11 would result in a cost saving of Rs. 4 per unit compared to making it in-house.
It's important to note that the decision should not be based solely on cost considerations. Other factors, such as the company's core competencies, capacity utilization, quality control, lead times, and strategic priorities, should also be taken into account.
However, based on the cost information provided, the company should initially buy the part and continue to do so even if the supplier reduces the price to Rs. 11.
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An organization expresses its reason for being, what it aspires to be, and the values it wants to emphasize in its mission, vision, and values statements, respectively. This activity is important because these three statements are the necessary foundation for a successful organizational planning process.
The goal of this exercise is to challenge your knowledge of important components of organizational mission, vision, and values statements.
Read the descriptions and select whether the description pertains to a mission, vision, or value statement.
1. Describes the image the organization wants to project
Values Statement Vision Statement Mission Statement
2. Inspires enthusiasm and encourages commitment
Vision Statement Values Statement Mission Statement
3. Illuminates the organization’s attitude toward its employees
Values Statement Vision Statement Mission Statement
4. Is intended to guide all of the actions in the organization
Vision Statement Mission Statement Values Statement
5. Is easily understood and well-articulated
Vision Statement Mission Statement Values Statement
6. Outlines the organization’s customer base
Values Statement Vision Statement Mission Statement
7. Expresses the company’s worldview
Vision Statement Mission Statement Values Statement
8. Is appropriate for the times and for the organization
Mission Statement Values Statement Vision Statement
9. Limits itself to a small number that employees can recall when making decisions
Mission Statement Vision Statement Values Statement
10. Articulates the geographical locations where the company competes
Vision Statement Mission Statement Values Statement
11. Unchanging; As applicable in 100 years as it is today
Vision Statement Mission Statement Values Statement
12. Reflects high ideals
Mission Statement Vision Statement Values Statement
Answer:
1. Describes the image the organization wants to project
Statement: Mission Statement
2. Inspires enthusiasm and encourages commitment
Statement: Vision Statement
3. Illuminates the organization’s attitude toward its employees
Statement: Mission Statement
4. Is intended to guide all of the actions in the organization
Statement: Values Statement
5. Is easily understood and well-articulated
Statement: Vision Statement
6. Outlines the organization’s customer base
Statement: Mission Statement
7. Expresses the company’s worldview
Statement: Values Statement
8. Is appropriate for the times and for the organization
Statement: Vision Statement
9. Limits itself to a small number that employees can recall when making decisions
Statement: Values Statement
10. Articulates the geographical locations where the company competes
Statement: Mission Statement
11. Unchanging; As applicable in 100 years as it is today
Statement: Values Statement
12. Reflects high ideals
Statement: Vision Statement
​"A permanent increase in government purchases has a larger effect than a temporary increase of the same​ amount." Use the​ saving-investment diagram to evaluate this​ statement, focusing on effects on​ consumption, investment, and the real interest rate for a fixed level of output. ​(​Hint: The permanent increase in government purchases implies larger increases in current and future taxes​.)
Answer:
here
Explanation:
JDI, Inc. is trying to decide whether ro make-or-buy a part (#J-45FPT). Purchasing the part would cost them $1.50 each. If they design and produce it themselves, it will result in a per unit cost of $0.75. However, the design investment would be $50,000. Further, they realize that for this type of part, there is a 30% chance that the part will need to be redesigned at an additional cost of $50,000. Regardless of whether they make-or-buy the part, JDI will need 100,000 of these parts. Using decision trees analysis and EMV, what should JDI do? Show the decision tree.
Answer:
JDI should buy the part
Explanation:
The decision tree is shown in the file attached below.
From the information given:
Provided that the expected values denote the costs; JDI is expected to select the lowest expected value and make the part.
JDI expected monetary cost = $140000
Its buy decision = $150000
Kirk Enterprises offers rug cleaning services to business clients. Below is the adjustments data for the year ended July 31.Adjustments:
a. Depreciation expense, $1,000.
b. Wages accrued, but not paid, $2,000.
c. Supplies on hand, $8,000.
d. Of the unearned revenue, 75% has been earned.
e. Unexpired insurance at July 31, $9,000.
Question Completion:
KIRK Enterprises
Trial Balance as of July 31:
Account Titles Debit Credit
Cash 36,000
Prepaid Insurance 12,000
Fees Receivable 56,000
Supplies 12,000
Equipment 60,000
Accumulated Depreciation 12,000
Unearned Revenue 20,000
Accounts Payable 32,000
Common Stock 84,000
Dividends 4,000
Service Revenue 80,000
Advertising Expense 28,000
Wage Expense 20,000
Totals 228,000 228,000
Required:
Using this information along with the spreadsheet below, record the adjusting entries in proper general journal form.
Answer:
Kirk Enterprises
Unadjusted Adjustments Adjusted
Trial Balance Trial Balance
Account Titles Debit Credit Debit Credit Debit Credit
Cash 36,000 36,000
Prepaid Insurance 12,000 3,000 9,000
Fees Receivable 56,000 56,000
Supplies 12,000 4,000 8,000
Equipment 60,000 60,000
Accumulated Depreciation 12,000 1,000 13,000
Unearned Revenue 20,000 15,000 5,000
Accounts Payable 32,000 32,000
Wages Payable 2,000 2,000
Common Stock 84,000 84,000
Dividends 4,000 4,000
Service Revenue 80,000 15,000 95,000
Advertising Expense 28,000 28,000
Wage Expense 20,000 2,000 22,000
Insurance Expense 3,000 3,000
Supplies Expense 4,000 4,000
Depreciation Expense 1,000 1,000
Totals 228,000 228,000 25,000 25,000 231,000 231,000
Explanation:
a) Adjustments:
Depreciation expense $1,000 Accumulated Depreciation $1,000
Wages expense $2,000 Wages payable $2,000
Supplies expense $4,000 Supplies $4,000 ($12,000 - $8,000)
Unearned revenue $15,000 Service Revenue $15,000 ($20,000 * 75%)
Insurance expense $3,000 Prepaid Insurance $3,000 ($12,000 - 9,000)
All of the following are examples of prospecting methods EXCEPT:
a) Public exhibitions and demonstrations
b) cold canvas
experimentation
d) endless chain
e) observation
Answer:
c and e
Explanation:
those are 2 examples of it
The example that is excepted from the prospecting methods is given in option (C), that is experimentation is not part of prospecting methods.
What are prospecting methods?Identification of prospective clients, often known as prospects, is the first step in the sales process.
Creating a database of potential consumers and communicating with them regularly in the hope of turning them from potential customers into existing customers is the aim of prospecting.
The prospecting methods include demonstrations, exhibitions, canvasing, observations, the endless chain of marketing, the center of influence, direct mail, and lot more.
As per the given options, the prospecting here is applicable for political elections, therefore, options (a): "Public exhibitions and demonstrations," (b): "Cold canvas," (c): "observation," and (d): "endless chain," are examples of prospecting methods.
However, as per the need of the question, the example that is not included in the prospecting methods is given in option (c): "experimentation."
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You are the General Manager of a US owned plant located in Northern Mexico. The firm manufactures semiconductors and uses temporary employees from the local area to fulfill production labor requirements. Each quarter employees are hired and released depending upon production requirements and needs. The firm has a maximum storage capacity of 1,000,000 semiconductors. Agreements with the Mexican Government require that at least 325 workers must be on the payroll each quarter. There are currently 375 employees on the payroll and 120,000 semiconductors in storage. Sales forecast provided by the marketing department are estimated as follows for the upcoming year:
QUARTER PRODUCTION DAYS PREDICTED SALES FORECAST
First 59 940,000
Second 62 1,215,000
Third 55 860,000
Fourth 58 430,000
Inventory holding cost are $.25 per semiconductor per quarter. The holding cost applies to excess inventory after demand is fulfilled. Thus, assume inventory produced in the quarter to fulfill demand in that quarter is not subjected to holding cost.
The firm would like to have at least 100,000 semiconductors in stock at the end of the year. Each employee produces an average of 30 semiconductors per day. The cost of hiring a new worker is $200, and the cost of releasing a worker is $400. Determine a production plan that minimizes total cost and meets demand forecasts. This production plan must indicate the amount of inventory to produce, store and the amount of workers to hire and release each quarter. Use LP to determine a solution for this problem.
Answer:
tables to display the required information:
[tex]\left[\begin{array}{ccccccc}$quarter&$beg workers&$hired&$lay-off&$total&$working days&$production\\1st&375&174&0&549&59&971730\\2nd&549&23&0&572&62&1063920\\3rd&572&0&50&522&55&861300\\4th&522&0&196&326&58&567240\\\end{array}\right][/tex]
[tex]\left[\begin{array}{ccccc}$quarter&$beginning&$production&$demand&$ending\\1st&120000&971730&940000&151730\\2nd&151730&1063920&1215000&650\\3rd&650&861300&860000&1950\\4th&1950&567240&430000&139190\\\end{array}\right][/tex]
Total cost:
hiring cost: (174 + 23)*200 = 39,400
lay-off cost: (50 + 196) * 400 = 98,400
inventory cost: ending inventory * $0.25 = 73,380
Total cost: $211,180
Explanation:
We solve this using Excel SOLVER which uses linear programming.
First, build a table for workers and production.
[tex]\left[\begin{array}{ccccccc}\\A&B&C&D&E&F&G\\$quarter&$beg workers&$hired&$lay-off&$total&$working days&$production\\1st&375&&&B + C - D &59&E \times 30 \times F\\2nd&E_1&&&B + C - D&62&E \times 30 \times F\\3rd&E_2&&&B + C - D&62&E \times 30 \times F\\4th&E_3&&&B + C - D&62&E \times 30 \times F\\\end{array}\right][/tex]
Then we build a table for inventory:
[tex]\left[\begin{array}{ccccc}\\A&B&C&D&E\\quarter&beginning&production&demand&ending\\1st&120000&&&B+C-D\\2nd&E_1&&&B+C-D\\3rd&E_2&&&B+C-D\\4th&E_3&&&B+C-D\\\end{array}\right][/tex]
Last the cell for total cost we want to minimize:
=SUM(hired) x 200 + SUM(lay-off) x 400) + SUM(ending inventory) x 0.25
Our requirement is:
1)ending inventory of 100,000 or more
2) total worker of 325 or above
3) fulfill all demand so ending must be zero or higher than zero
4) hiring and lay-off are Natural numbers (we can't hire 0.5 employees)
Choose a side. Based on the evidence, which perspective do you agree with more? Write a paragraph to identify your position. Use evidence to explain your choice.
Claim: The Federal Reserve plays a positive role in the U.S. economy by effectively managing monetary policy and promoting economic stability and growth.
How does the Federal Reserve contribute to economic stability?The Federal Reserve has main role of maintaining price stability, promoting full employment and fostering sustainable economic growth. Through its control over monetary policy, the Federal Reserve uses various tools such as open market operations.
Its control reserve requirements and interest rate adjustments to manage the money supply and influence interest rates. By doing so, the Federal Reserve aims to stabilize inflation and minimize fluctuations in economic activity.
The evidence suggests that the Federal Reserve's actions have had a positive impact on the U.S. economy. For instance, during the 2008 financial crisis, its implemented extraordinary measures to stabilize the financial system including providing liquidity support to banks and implementing unconventional monetary policies like quantitative easing.
Full question:
Make a claim about the positive role the Federal Reserve serves in the U.S. economy. Use evidence from your research to support your claim ased on the evidence, which perspective do you agree with more?
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When submitting the completed project, please show all work and number each answer accordingly.
When calculating the NPV use the following five columns (use for ALL NPV calculations):
Item
Year(s)
Cash Flow
Discount Factor
Present Value of Cash Flows
1. Tony Skateboards is considering building a new plant. James Bott, the company’s marketing manager, is an enthusiastic supporter of the new plant. Michele Martinez, the company’s chief financial officer, is not so sure that the plant is a good idea. Currently the company purchases its skateboards from foreign manufacturers. The following figures ere estimated regarding the construction of the new plant.
Cost of plant
$4,000,000.00
Estimated useful life
15 years
Annual cash inflows
$4,000,000.00
Salvage value
$2,000,000.00
Annual cash outflows
$3,550,000.00
Discount rate
11%
James Bott believes that these figures understate the true potential value of the plant. He suggests that by manufacturing its own skateboards the company will benefit from a “buy American” patriotism that he believes is common among skateboarders. He also notes that the firm has had numerous quality control problems with the skateboards manufactured by its suppliers. He suggests that the inconsistent quality has resulted in lost sales, increased warranty claims, and some costly lawsuits. Overall, he believes sales will be $200,000 higher than the projected above, and that the savings from lower warranty costs and legal costs will be $80,000 per year.
Required:
a. Compute the Cash Payback period for the project based on the original projections.
b. Compute the net present value of the project based on the original projections.
c. Compute the Cash Payback period for the project incorporating James’ estimates of the value of the intangible benefits.
d. Compute the net present value of the project incorporating James’ estimates of the value of the intangible benefits.
e. Comment on your findings.
2. The partnership of Michele and Mark is considering the following long-term capital investment proposal. Relevant data on the project is listed below. Salvage value is expected to be zero for the project. Depreciation is computed by the straight-line method. The company’s rate of return is the company’s cost of capital which 12%.
Brown
Capital Investment
$200,000.00
Annual Net Income:
Year 1
$25,000.00
Year 2
$16,000.00
Year 3
$13,000.00
Year 4
$10,000.00
Year 5
$8,000.00
Total
$72,000.00
Required:
a. Compute the cash payback period for the project. (round to two decimal places)
b. Compute the net present value for the project (round to the nearest dollar)
c. Compute the annual rate of return for the project.
d. Compute the profitability index for the project.
1
The Cash Payback period for the project incorporating James’ estimates of the value of the intangible benefits is 2.74 years.
Cash Payback Period = (Total Initial Investments- Salvage Value)/Net Annual Cash Flows
Cash Payback Period = (4000000-2000000)/(4000000-3550000)
Cash Payback Period = 4.44 years
The Cash Payback period for the project based on the original projections is 4.44 years.
Cash Payback Period = Total Initial Investments/Net Annual Cash Flows
Cash Payback Period = (4000000-2000000)/(4200000-3470000)
Cash Payback Period = 2.74 years
The Cash Payback period for the project incorporating James’ estimates of the value of the intangible benefits is 2.74 years.
Simply divide the initial cash outlay of a project by the amount of net cash inflow that the project generates annually to find how to calculate payback period in practice. You might assume that the net cash inflow is constant each year in order to calculate the payback period formula.
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Samantha has the following assets and liabilities. What is her net worth?
Assets
car - $4,200
savings account - $200
cash - $20
Liabilities
car loan - $1,500
credit card - $100
A farmer has developed a new type of fertilizer. This new fertilizer
costs 20 percent more to produce than the old fertilizer but has
better results: The same land now produces 25 percent more
crops each year.
Which statement best describes one way the farm will be
affected by using this new fertilizer?
A. The farm's opportunity cost for using fertilizer will increase.
B. The farm's opportunity cost for using fertilizer will decrease.
C. The farm's marginal cost for fertilizer will increase.
D. The farm's marginal cost for fertilizer will decrease.
The farm's marginal cost for fertilizer will increase. The correct answer is option C.
What is marginal cost?Because it aids in determining the ideal level of production and pricing, marginal cost is a crucial topic in economics and business decision-making. Businesses can decide on production levels, pricing tactics, and resource allocation by comparing the marginal cost to the marginal revenue, or the extra money made by selling one more unit.
The additional expense incurred while manufacturing one more unit of a good or service is referred to as the marginal cost. The farmer in this instance is utilizing a brand-new fertilizer that is 20% more expensive to generate than the previous fertilizer. The marginal cost of fertilizer for the farm therefore rises as a result of the new fertilizer's higher cost of production per unit.
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Suppose that when the price of gasoline is $3.50 per gallon, the total amount of gasoline purchased in the United States is 6 million barrels per day. Also, suppose that when the price of gas decreases to $3 per gallon, the total amount of gasoline purchased is 8 million barrels per day. Based on these numbers and using the midpoint formula, the price elasticity of demand for gasoline is:
By definition, the price elasticity of demand for gasoline is -2.33.
Price elasticity of demandThe price elasticity of demand is a measure used to show the responsiveness, or elasticity, of the quantity demanded of a good or service to changes in the price of that good or service.
That is, the price elasticity of demand indicates to what extent changes in price alter the demand for specific products or services.
The price elasticity of demand is calculated by dividing the percentage change in demand by the percentage change in price, resulting in the following expression:
[tex]Elasticity=\frac{percentage change in quantity demanded}{percentage change in price}[/tex]
[tex]Elasticity=\frac{\frac{deltaQ}{Q} }{\frac{deltaP}{P} }[/tex]
where:
deltaQ means the absolute change in quantities demanded.Q represents quantity.deltaP represents the absolute change in price.P represents the price.Price elasticity of demand for gasolineKnowing that:
When the price of gasoline is $3.50 per gallon, the total amount of gasoline purchased in the United States is 6 million barrels per day. When the price of gas decreases to $3 per gallon, the total amount of gasoline purchased is 8 million barrels per day.First, the percentage change in quantities is calculated as follows:
The absolute change in quantities deltaQ is obtained by first subtracting the final demand from the initial demand, that is (8 million – 6 million = 2 million)Now dividing this value by the initial demand, you obtain 2 million÷6 million=0.333, which, taken to a percentage value, finally shows that the percentage change in quantity demanded is 0.333×100%= 33.3%.Now the percentage change in price is determined as follows:
The absolute change in the deltaP price is obtained by subtracting the final price from the initial price, that is (3 – 3.5= -0.5).Now dividing this value by the initial price -0.5/3.5, we obtain -0.143, which, taken as a percentage value, shows that the percentage variation in the price is -0.143x100%= -14.3%.Finally, the price elasticity of demand is calculated as:
[tex]Elasticity=\frac{33.3}{-14.3}[/tex]
Solving:
Elasticity= -2.33
In summary, the price elasticity of demand for gasoline is -2.33.
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Membership in the Cape Fear Health Club has been recorded for the past nine years. Management wants to determine the trend of membership in order to project future space needs. This estimate would help the club determine whether a future expansion will be needed. Given the following time series data, develop a regression equation relating memberships to years. Based on your regression equation, what is your forecast for 2020 memberships? Memberships are in hundreds.
Year > 2011 2012 2013 2014 2015 2016 2017 2018 2019
#'s > 11 13 15 17 16 18 20 19 23
a. 22.b. 24.6.c. 23.3.d. 11.e. 25.9.
Answer:
c). 23.3
Explanation:
Period Demand X Y XY [tex]$X^2$[/tex]
1 11 1 11 11 1
2 13 2 13 26 4
3 15 3 15 45 9
4 17 4 17 68 16
5 16 5 16 80 25
6 18 6 18 108 36
7 20 7 20 140 49
8 19 8 19 152 64
9 23 9 23 207 81
∑ 45 152 837 285
Intercept[tex]$(B_0) = \Sigma Y \times \Sigma X^2 - \Sigma X \times \frac{\Sigma XY}{(N\times \Sigma X^2 - \Sigma X^2)} $[/tex]
Intercept [tex]$= (152\times 285)-\frac{45 \times 837}{(9 \times 285)-45^2}$[/tex]
= 10.47
Slope [tex]$(B_1)= ((N\times \Sigma XY) - (\Sigma X \times \Sigma Y)-(N \times \SIgma X^2 - \Sigma X^2)$[/tex]
Slope [tex]$=((9\times837)-\frac{(45 \times 152)}{(9 \times 285)-45^2} $[/tex]
= 1.28
Therefore, the equation is
Y = intercept + slope(X)
[tex]$Y=10.47 + (1.25 \times X)$[/tex]
For [tex]$X=10$[/tex] forecast [tex]$= 10.47 + (1.28 \times 10)$[/tex]
= 23.27 or 23.3
Total and unit cost, decision making. Gayle’s Glassworks makes glass flanges for scientific use. Materials cost $1 per flange, and the glass blowers are paid a wage rate of $28 per hour. A glass blower blows 10 flanges per hour. Fixed manufacturing costs for flanges are $28,000 per period. Period (nonmanufacturing) costs associated with flanges are $10,000 per period and are fixed.
1. Graph the fixed, variable, and total manufacturing cost for flanges, using units (number of flanges) on the x-axis.2. Assume Gayle’s Glassworks manufactures and sells 5,000 flanges this period. Its competitor, Flora’s Flasks, sells flanges for $10 each. Can Gayle sell below Flora’s price and still make a profit on the flanges?3. How would your answer to requirement 2 differ if Gayle’s Glassworks made and sold 10,000 flanges this period? Why? What does this indicate about the use of unit cost in decision making?
Answer:
1. this is a graph. i have added it as an attachment
2. gayles glass work cannot sell below floras flask and still make profit.
3. here gayles glasswork can sell below floras flask and still make profit. unit cost helps in decision making concerning selling price and profit
Explanation:
1. please check the attachment for the graph. we have number of flanges on the x axis of the graph and costs of manufacturing on the y axis.
2. 10 flanges at $1 + $28/hr
= $38
the variable cost for manufacturing per unit of flange = 38/10 = $3.8
[tex]total cost per flange = (3.8 +\frac{28000}{5000} )+\frac{10000}{5000}[/tex]
= $11.40
so if Gayle's should manufacture and sell 5000 flanges, it would have total cost per flange as 11.40 dollars. while floras flask has 10 dollars per flask. Gayle's glasswork should not sell below 10 dollars as it would not be able to make profit.
3. If gayles glasswork sold and made 10000 flanges this period
[tex]total cost per flange=[3.80+\frac{28000}{10000} ]+\frac{10000}{10000}[/tex]
= $7.60
the selling price of flora flask is = 10 dollars with Gayle's = 7.60 dollars. Gayle's can make profit by keeping selling price less than flora flask. therefore Gayle can make profit by selling below flora flask.
What does this indicate about the use of unit cost in decision making?
we saw how unit cost fell fro 11.40 dollars to 7.6 dollars as fixed and period costs remained unchanged, not withstanding the number of units that was being manufactured. this shows that unit cost plays a great role in decision making concerning selling price, profit as well as feasibility of the product.
thank you!
Sandhill Co. began operations on January 2, 2020. It employs 13 people who work 8-hour days. Each employee earns 11 paid vacation days annually. Vacation days may be taken after January 10 of the year following the year in which they are earned. The average hourly wage rate was $19 in 2020 and $20.25 in 2021. The average vacation days used by each employee in 2021 was 10. Sandhill Co. accrues the cost of compensated absences at rates of pay in effect when earned.
Prepare journal entries to record the transactions related to paid vacation days during 2020 and 2021.
Answer:
2020
Dr Wages expense $21,836
Cr To vacation wages payable $18,720
On 2021
Dr Wages expense $1,300
Dr Vacation wages payable $19,760
Cr Cash $21,060
2021
Dr Wages expense $23,166
Cr To vacation wages payable $23,166
Explanation:
Preparation of the journal entries to record the transactions related to paid vacation days during 2020 and 2021.
2020
Dr Wages expense $21,836
(13 × 8 hrs × 11 days × $19)
Cr To vacation wages payable $18,720
(Being to record wages expense )
2021
Dr Wages expense $1,300
($21,060-$19,760)
Dr Vacation wages payable $19,760
(13 × 8 hrs × 10 days × $19)
Cr Cash $21,060
(13 × 8 hrs × 10 days × $20.25)
(Being to record cash paid )
2021
Dr Wages expense $23,166
(13 × 8 hrs × 11 days × $20.25)
Cr To vacation wages payable $23,166
(Being to record wages expense )
If Black Diamond has teams of employees working on projects from nations around the world with varying cultural backgrounds and differing outdoor interests, then this is an example of:
a. Generational differences
b. Surface-level diversity
c. Stereotypes
d. Deep-level diversity
Use your knowledge of the different organizational concepts to classify each of the following statements.
If Black Diamond were to have different contracts for its workers such that some people are paid $15.10 an hour and others are paid $9.25 an hour to perform the same job then this would be an example of:______
Answer:
d. Deep-level diversity
Explanation:
The term diversity includes the differences that are possessed by the individuals and that distinguishes them from each other. The variation in physical attributes, beliefs, nationality, religion and other such aspects helps in building what is termed to be diversity.
Deep-level diversity is characterized with the attributes that are non-observable. The beliefs, ideas, values and religion are the attributes of deep-level diversity.
According to the given excerpt, the cultural backgrounds and outdoor interests are the aspects that are unobservable and therefore grouped under deep-level diversity.
Which of the following statements is not true? Many Fortune 500 U.S. firms derive more than half their revenues from foreign operations. Technology companies are particularly dependent on offshore revenue. Eighty percent of the toys sold in the United States are manufactured in China. Most PCs manufactured in China use microprocessor chips manufactured in Korea. In 2017, 60 percent of Apple's revenue was generated outside of the United States.
Answer:
B
Explanation:
Brainliest?
Gonzalez, Inc. has a fiscal year-end of September 30th. On March 1, 2018, Gonzalez authorized $800,000 of bonds payable, with a term of 12 years. The bonds carry a stated interest rate of 6%, with interest to be paid semi-annually on February 28th and August 31st. On August 1, 2019, Gonzalez issued three-quarters of the bonds for cash, at a premium of $25,400.
Required:
Prepare the journal entries that would be required relating to the bonds over period March 1, 2018 through September 30, 2019.
Answer:
August 1, 2019
Dr. Cash $625,400
Cr. Premium on Bond $25,400
Cr. Bond Payable $600,000
August 31, 2019
Dr. Interest Expense $16,941.67
Dr. Premium on Bond $1,058.33
Cr. Cash __________$18,000
September 30, 2019
Dr. Interest Expense $2,823.61
Dr. Premium on Bond $176.39
Cr. Cash __________$3,000
Explanation:
August 1, 2019
As the Bond was issued on August 1, 2019, So the first entry will be made at the issuance
Issuance of Bond = Total authorized x 3/4 = $800,000 x 3/4 = $600,000
Cash receipt = Face value + Premium on Bond = $600,000 + $25,400 = $625,400
August 31, 2019
As interest is paid on this date.
Interst payment = Face value x Coupon rate = $600,000 x 6% x 6/12 = $18,000
Amortization of Bond Premium ( Straight line ) = Premium on Bond / ( Years to maturity x Coupon payment period per year ) = $25,400 / ( 12 years x 2 periods per year ) = $1,058.33
September 30, 2019
On this date interest of one month is accrued which needs to be recorded.
Interest payable = 600,000 x 6% x 1/12 = $3,000
Amortization of Bond Premium ( Straight line ) = ( 25,400 / 24 ) / 6 = $176.39
Veneer Corporation has a competitive advantage in contract manufacturing of small electrical components and expects their competitive advantage to last two years through calendar 2021. The competitive advantage will allow it to increase sales by 20% annually for 2020 and 2021, and, after that, its sales will grow at the same rate as the increase in nominal GDP.
Prepare a proforma income statement, balance sheet, and firm free cash flow for Veneer for 2020 and 2021 (the planning period) using the following assumptions:
Sales are expected to grow by 20% annually.
Cost of goods sold and operating expenses are a constant percent of revenues, interest is 5% of Beginning of Year (BOY) long-term debt plus short-term debt, depreciation is 10% of BOY total fixed assets (gross, not net) and income taxes are 35% of income before tax.
The projected cash balances will change to balance the balance sheet, and the remaining current assets increase in proportion to sales.
Gross fixed assets increase 5% each year.
Accounts payable increases in proportion to sales.
Short-term debt remains the same each year of the planning period. Long-term debt is payable, beginning at the end of the year 2020 and continuing at the end of each year, in equal annual principal payments of $540.
Retained earnings increases by net income and decreases by dividends. The dividend payout ratio is 25%.
During 2021, capital stock with a par value of $1 per share will be sold for $1 per share or a total of $500. There are no other sales of capital stock.
Veneer's Balance Sheet and Income Statement for 2018 and 2019 is shown below:
Veneer Corporation
Balance Sheets
December 31, 2018 and 2019
Historical
ASSETS 2018 2019
Current Assets:
Cash 368 1,823
Accounts receivable 1,622 1,599
Inventories 544 590
Total Current Assets 2,534 4,012
Fixed Assets
Total Fixed Assets (Gross) 7,800 8,474
Accumulated depreciation (580) (730)
Net Fixed Assets 7,220 7,744
TOTAL 9,754 11,756
LIABILITIES AND SHAREHOLDERS' EQUITY
Current Liabilities:
Accounts payable 370 512
5% Short-term debt 1,800 2,288
Total Current Liabilities 2,170 2,800
5% Long-term debt 5,070 5,392
Shareholders' Equity:
Common stock 1,000 1,000
Additional paid-in capital 2,000 2,000
Retained earnings (250) 797
Total 2,750 3,797
Treasury stock (233) (233)
Total Shareholders' Equity 2,517 3,564
TOTAL 9,757 11,756
Statements of Income
Historical
2018 2019
Revenues 16,389 18,210
Cost of goods sold 10,832 12,035
Gross profit on sales 5,558 6,175
Operating expenses 3,521 3,912
Depreciation 150 150
EBIT 1,887 2,113
Interest expense 603 502
Income Taxes 449 564
Net Income 834 1,047
Answer:
Assets 2018 2019 2020 2021
Current Assets:
Cash 368 1,823 1,721 2,270
Account Receivavle 1,622 1,599 1,919 2,303
Inventories 544 590 708 850
Current Assets 2,534 4,012 4,348 5,422
Fixed Assets
Fixed Assets 7,800 8,474 8,898 9,343
Accumulated depreciation -580 -730 -847 -890
Net Fixed Assets 7,220 7,744 8,050 8,453
Total 9,754 11,756 12,398 13,875
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Account Payable 370 512 614 737
Short term debt 1,800 2,288 2,288 2,288
Total Current liabilities 2,170 2,800 2,902 3,025
Long Term Debt 5,070 5,392 4,852 4,312
Shareholders' Equity:
Common Stock 1,000 1,000 1,000 1,500
Additional paid in capital 2,000 2,000 2,000 2,000
Retained earnings -250 797 1,876 3,270
Total 2,750 3,797 4,876 6,770
Treasury stock -233 -233 -233 -233
Total Shareholders' Equity: 2,517 3,564 4,643 6,537
Total 9,757 11,756 12,398 13,875
-3 0 0 0
Statements of Income
2018 2019 2020 2021
Revenues 16,389 18,210 21,852 26,222
Cost of goods sold 10,832 12,035 14,442 17,330
Gross profit on sales 5,558 6,175 7,410 8,892
Operating expenses 3,521 3,912 4,694 5,633
Depreciation 150 150 117 42
EBIT 1,887 2,113 2,598 3,216
Interest expense 603 502 384 357
Income Taxes 449 564 775 1,001
Net Income 835 1,047 1,439 1,859
Explanation:
Assets 2018 2019 2020 2021
Current Assets:
Cash 368 1,823 1,721 2,270
Account Receivavle 1,622 1,599 1,919 2,303
Inventories 544 590 708 850
Current Assets 2,534 4,012 4,348 5,422
Fixed Assets
Fixed Assets 7,800 8,474 8,898 9,343
Accumulated depreciation -580 -730 -847 -890
Net Fixed Assets 7,220 7,744 8,050 8,453
Total 9,754 11,756 12,398 13,875
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Account Payable 370 512 614 737
Short term debt 1,800 2,288 2,288 2,288
Total Current liabilities 2,170 2,800 2,902 3,025
Long Term Debt 5,070 5,392 4,852 4,312
Shareholders' Equity:
Common Stock 1,000 1,000 1,000 1,500
Additional paid in capital 2,000 2,000 2,000 2,000
Retained earnings -250 797 1,876 3,270
Total 2,750 3,797 4,876 6,770
Treasury stock -233 -233 -233 -233
Total Shareholders' Equity: 2,517 3,564 4,643 6,537
Total 9,757 11,756 12,398 13,875
-3 0 0 0
Statements of Income
2018 2019 2020 2021
Revenues 16,389 18,210 21,852 26,222
Cost of goods sold 10,832 12,035 14,442 17,330
Gross profit on sales 5,558 6,175 7,410 8,892
Operating expenses 3,521 3,912 4,694 5,633
Depreciation 150 150 117 42
EBIT 1,887 2,113 2,598 3,216
Interest expense 603 502 384 357
Income Taxes 449 564 775 1,001
Net Income 835 1,047 1,439 1,859
The original purpose of counties was to?
Answer:
The original purpose of the counties was to establish an intermediate governmental structure between that of the cities and that of the states, bringing together several cities in a single entity, the County, which would centralize basic services such as courts, hospitals, universities, etc. and it would represent these cities before the State in a more forceful way than if each city did so on its own initiative.
In the digital-age workplace, lines of authority are less defined. The availability of information to all employees has increased, as has the prevalence of collaboration. While hierarchical divisions have diminished, you still may communicate messages downward and upward as well as horizontally. Pay special attention to the tone of the messages you write to persuade within your organization. Build interest by emphasizing benefits, and use strategies to overcome resistance. A successful persuasive message flowing downward requires a
Does a picture come with it
Last year Kruse Corp had $440,000 of assets (which is equal to its total invested capital), $403,000 of sales, $28,250 of net income, and a debt-to-total-capital ratio of 39%. The new CFO believes the firm has excessive fixed assets and inventory that could be sold, enabling it to reduce its total assets and total invested capital to $252,500. The firm finances using only debt and common equity. Sales, costs, and net income would not be affected, and the firm would maintain the same capital structure (but with less total debt). By how much would the reduction in assets improve the ROE
Answer:
The reduction in assets would improve the ROE by 7.81%.
Explanation:
This can be calculated as follows:
Previous equity = (100% - Debt-to-total-capital ratio) * Previous total invested capital = (100% - 39%) * $440,000 = 61% * $440,000 = $268,400
Previous return on equity (ROE) = (Net income / Previous equity) * 100 = ($28,250 / $268,400) * 100 = 10.53%
New equity = (100% - Debt-to-total-capital ratio) * New total invested capital = (100% - 39%) * $252,500 = 61% * $252,500 = $154,025
New ROE = (Net income / New equity) * 100 = ($28,250 / $154,025) * 100 = 18.34%
Change in ROE = New ROE - Previous ROE = 18.34% - 10.53% = 7.81%
Since change in ROE is 7.81% and positive, this implies that the reduction in assets would improve the ROE by 7.81%.
what is financial ratio?
Answer:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
Explanation:
financial ratio or accounting ratio is a relative magnitude of two selected numerical values taken from an enterprise's financial statements. Often used in accounting, there are many standard ratios used to try to evaluate the overall financial condition of a corporation or other organization.
For the next 3 questions, use the following scenario: The graph below depicts the market for widgets. The government has imposed a tax on the production of widgets. Before the tax, the equilibrium price was $20 and the equilibrium quantity was 4. After the tax, the quantity is 2, the price the consumers face is $28, and the price the producers receive is $12.
Which of the following areas represents government revenue raised by the tax?
Group of answer choices
F
The sum of C and E
The sum of B and D
A
Flag question: Question 22
Question 224 pts
Calculate the amount of deadweight loss as a result of the tax.
Group of answer choices
16
32
12
20
Flag question: Question 23
Question 234 pts
Which of the following areas represents consumer surplus before the tax?
Group of answer choices
The sum of D, E, and F
A
The sum of A, B, and C
F
Q21) The area that represents government revenue raised by the tax is the sum of B and D, Hence, Option (C) is correct.
The government revenue is the part between what the consumer pays and what the producer gets and in the graph that portion is the B&D
Q22) The amount of dead-weight loss is $16, Hence, option (A) is correct.
To calculate the amount of deadweight loss as a result of the tax, we need to find the triangle that represents the loss of consumer and producer surplus due to the reduction in quantity. The deadweight loss is equal to half the base of the triangle multiplied by the height.
Given that the original equilibrium quantity was 4 and the new quantity after the tax is 2, the reduction in quantity is 4 - 2 = 2.
The base of the triangle is 2 (quantity reduction), and the height can be calculated as the difference between the price consumers faces ($28) and the price producers receive ($12), which is 28 - 12 = 16.
The deadweight loss = (1/2) * base * height = (1/2) * 2 * 16 = 16.
Therefore, the amount of deadweight loss as a result of the tax is $16.
Q23) The area that represents consumer surplus before the tax is the sum of A, B, and C. Hence, Option (C) is correct
Consumer surplus refers to the portion above the equilibrium price or the price and below the demand curve.
Before taxation, this portion is A, B & C.
Thus, Q21) Option (C) is correct, Q22) Option (A) is correct, Option (C) is correct
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