EntertainMe Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows:
January February March
Unit Data
Beginning inventory 0 150 150
Production 1,500 1,400 1,520
Sales 1,350 1,400 1,530
Variable costs
Manufacturing cost per unit produced $1,000 $1,000 $1,000
Operating (marketing) cost per unit sold $800 $800 $800
Fixed costs:
Manufacturing costs $525,000 $525,000 $525,000
Operating (marketing) costs $130,000 $130,000 $130,000
The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to the cost of goods sold in the month in which it occurs.


Requirements

1. Prepare income statements for EntertainMe in January, February, and March 2017 under (a) variable costing and (b) absorption costing.

2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing.

Answer: Cash flow can be positive or negative.

Explanation:

Positive cash flow means a company has more money moving into it than out of it. Negative cash flow indicates a company has more money moving out of it than into it.

Answer:

Do not twist or turn the body; instead, move your feet to turn. Your hips, shoulders, toes, and knees should stay facing the same direction. Keep the load as close to your body as possible with your elbows close to your sides. If you feel fatigued, set the load down and rest for a few minutes.

Explanation:

The process for making a selection decision that involves a very high score on one type of assessment making up for a low score on another is called compensatory model.

The compensatory model is a decision-making process that involves taking into account various factors, including strengths and weaknesses, when making a decision. It is a selection method that allows candidates with weak areas in one area to compensate for it with strong results in another. In other words, a high score in one area can compensate for a low score in another.

The following are some of the advantages of the compensatory model: It can be used to select candidates for positions that require a wide range of skills and abilities. It is more objective than other selection models since it considers a variety of factors in the decision-making process. It encourages candidates to excel in all areas rather than focusing on specific areas of strength.

The following are some of the disadvantages of the compensatory model: It can be difficult to compare candidates who score differently on each assessment component. There is a danger of relying too heavily on one or two assessment components, thereby ignoring the candidate's overall ability and suitability for the position. It can be time-consuming and difficult to administer.

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Considering the situation described above, the statement that is true of NEHunt in this scenario is that "It sells differentiated products from a standardized platform."

This is because differentiated products are products that make a brand stands outs from the competition.

A standardized platform is a platform in which one vendor sells various products.

Therefore, given that NEHunt sells various products with a secure payment system, this is an example of a vendor selling differentiated products from a standardized platform.

Hence, in this case, it is concluded that the correct answer is option A.

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Answer:

External labor demand

Explanation:

Human resources management (HRM) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.

Hence, human resources managers are saddled with the responsibility of recruiting, managing and improving the welfare and working conditions of the employees working in an organization.

External labor demand is the term which best describes the type and number of competitors' job openings when looking at supply and demand within human resources (HR).

Basically, an external labor demand gives a description of the number and type of employees that are required by a rival company in the same industry.

Liabilities are classified on the balance sheet as current or long-term.

Current liabilities are obligations that are expected to be settled within the next operating cycle or within one year, whichever is longer. Examples of current liabilities include accounts payable, short-term loans, and accrued expenses.

These are debts that a company owes and expects to pay off in the near future, typically using current assets or by generating revenue from its normal business operations.

Long-term liabilities, on the other hand, are obligations that are not expected to be settled within the next operating cycle or within one year. These are debts that will be paid off over a longer period, usually more than a year. Examples of long-term liabilities include long-term loans, bonds payable, and deferred tax liabilities.

The classification of liabilities as either current or long-term is important because it helps users of the financial statements, such as investors and creditors, to understand the company's short-term and long-term financial obligations. It also provides insights into the company's ability to meet its short-term obligations using its current assets.

To summarize, liabilities are classified on the balance sheet as either current or long-term depending on their expected settlement timeline. Current liabilities are expected to be settled within the next operating cycle or within one year, while long-term liabilities are expected to be settled over a longer period.

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It is true that a person is guilty of an attempt to commit a crime when, with intent to commit a crime he/she engages in conduct which tends to try to get the crime committed.

If a criminal intends to commit a crime and makes a significant step towards carrying it out, but the ultimate resultant crime does not happen for unintended reasons, the effort to conduct the crime has occurred.

A specific crime is an attempt to commit it, which is typically seen as being of equal or lesser seriousness to the specific act committed. The two components of an attempted crime are intent and some activity that points towards the commission of the crime.

Therefore, the appropriate answer is "True".

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A short-term goal is defined as: A. tasks that you set to accomplish specific things in a short period of time.

A short-term goal is a specific and achievable task or objective that a person sets out to accomplish within a relatively short period of time, usually less than a year.

These goals are intended to be completed quickly, helping individuals to move closer towards their long-term aspirations and provide a sense of progress and accomplishment. Short-term goals are often the building blocks towards larger, more significant achievements, and can help individuals stay motivated and focused on their overall objectives.

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Answer:

Fund or an Exchange Traded Fund (ETF)

Explanation:

This group of investments are generally called a Fund or an Exchange Traded Fund (ETF). These are various assets investments that are bundled together and sold as a single entity which investors can easily buy as one investment. This fund gives the investor easy exposure and diversification to these various assets in their portfolio, but also safety since each individual price affects the overall price of the fund but also protects the one another, meaning if one asset's price falls the other assets in the fund can even out the ROI with an increase in price.

Among the options provided, laws against the recreational use of marijuana (option d) may be more prone to widespread violation compared to the others.

Determining which specific law is most likely to see widespread violation is challenging, as it depends on various factors such as societal norms, enforcement efforts, and cultural attitudes.

The prohibition of marijuana has historically faced challenges in terms of compliance and enforcement. Despite legal frameworks that criminalize its recreational use in certain jurisdictions, the widespread availability and cultural acceptance of marijuana use in many communities have led to significant non-compliance with these laws. Additionally, the evolving landscape of marijuana legalization and decriminalization further complicates the enforcement and adherence to such laws, leading to a higher likelihood of violations.

It is important to note that this analysis does not undermine the severity or significance of other laws listed. Violations of laws against murder, driving under the influence, pollution in manufacturing processes, and child abuse are all grave offenses with serious consequences. However, based on trends and social dynamics surrounding marijuana usage, laws prohibiting its recreational use may encounter a higher prevalence of violations.

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Answer:

Explanation: A budget is an estimation of revenue and expenses over a specified future period of time and is usually compiled and re-evaluated on a periodic basis.

The amount of money that a business had to spend on the production of its goods or services is known as the cost.

How does financial planning use budgeting?

The method of planning a company's earnings and expenses over a specific time period is known as financial budgeting. The management's financial plans are outlined in budgets.

The cost of a business's products or services is the sum of money that was required to produce them. Among other things, this entails allocating financial means and figuring out how much cash is available to spend.

Therefore, A financial budget is one that is concerned with the balance sheet of the business, which also includes the cash budget.

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The globalisation of production refers to the tendency of businesses to seek suppliers of goods and services from all over the world in order to capitalise on national differences in price and quality of production factors.

Globalization of production refers to the free flow of capital, labour, trade, and other components of economic production around the world. It refers to the manufacture of goods in more than one location.

Globalization enables businesses to find lower-cost manufacturing methods. It also increases global competition, which drives down prices and gives consumers more options. Lowering costs enable people in both developing and developed countries to live more comfortably on less money.

Nike, for example, outsources footwear production to Asian firms, and Dell outsources production of the components and peripheral devices that comprise its personal computers to suppliers worldwide.

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C r i m e is a complex social phenomenon that requires a multidisciplinary approach to understand and address. Creating laws and co di f ying c r i m e s is an essential component of the criminal justice system and can help address societal problems such as C y b e r b u l l y i n g.

Part A: Crime Study:

Understanding crime and its causes is critical in developing effective crime prevention strategies and maintaining social order. The study of crime also involves understanding the criminal justice system, which is responsible for maintaining law and order and punishing offenders. Law enforcement agencies are responsible for investigating crimes, arresting offenders, and bringing them to trial. The courts are responsible to determine guilt and administer punishment. The correctional institutions are responsible of rehabilitating offenders.

In conclusion, crime is a complex social phenomenon that requires a multidisciplinary approach to understand and address. Understanding the causes of crime and the criminal justice system is critical in developing effective crime prevention strategies. Creating laws and codifying crimes is an essential component of the criminal justice system and can help address societal problems such as c y b e r b u l l y i n g.

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Data mining is the phrase used by IBM to describe the process of using data to discover patterns, get insights, and comprehend what is going on in your organization.

Data mining, also known as knowledge discovery in data (KDD), is the practise of mining massive data sets for patterns and other relevant information.

Because of the advancement of data warehousing technologies and the rise of big data, the use of data mining techniques has accelerated during the last several decades, supporting businesses in translating raw data into valuable knowledge.

Through smart data analytics, data mining has enhanced corporate decision-making. The data mining techniques that enable these studies serve two purposes: they may either describe the target dataset or forecast outcomes using machine learning algorithms.

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Answer:

(B) Management expertise and economic soundness are among the factors that should be considered in evaluating real estate limited partnerships.

Explanation:

The limited partnership in a real estate allows to have a general partner if there is no conflict of interest, it do not impose any restriction on a corporation having limited liability.

Further all the operating costs are wholly deductible and the costs associated with acquiring land are not deductible.

Management shall be expert in the work they perform also their soundness to business provides extra benefit to real estate business, as it is all about getting maximum contracts.

Answer:

Carl's Insurance Expense Deduction for Year 2

Since he took advantage of the 12-month prepayments rule, his Year 2 Insurance deduction was deducted in Year 1.

While his deduction should have been equal to

= Annual Insurance Expense/12 x 9 = $3,300/12 x 9 = $2,475

In Year 2, it is equal to $0 since he did not make any payment for Insurance.

Explanation:

Under the cash method of accounting, two rules govern how someone can deduct prepaid expenses:

1. The General Rule

2. The 12-Month Rule

1. The General Rule

Under the general rule, you cannot deduct the full amount of an advance payment covering more than 12 months. You must deduct a portion of the payment in the year to which it applies.

Example: The General Rule.

Carl is a cash method taxpayer on a calendar year.

On October 1, 2018 Carl pays $3,600 in advance for business insurance covering three years.

Coverage begins October 1, 2018.

Coverage ends September 30, 2021.

Result:

The general rule applies.

The advance payment covers more than 12 months (36 months).

A portion of the $3,600 must be deducted ratably over the three-year period.

To find the portion of the $3,600 Carl deduct each tax year:

First, divide the $3,600 by 36 (months) to find the monthly premium amount.

Then, multiply the number of months remaining in each tax year by the monthly premium

Monthly premium: $3,600 / 36 = $100 per month.

Oct. 1, 2018 - Dec. 31, 2018: 3 x $100 = $300 deduction for 2018

Jan. 1, 2019 - Dec. 31, 2019: 12 x $100 = $1,200 deduction for 2019

Jan .1, 2020 - Dec. 31, 2020: 12 x $100 = $1,200 deduction for 2020

Jan. 1, 2021 - Sep. 30, 2021: 9 x $100 = $900 deduction for 2021

The 12-Month Rule

The 12-month rule says that Carl may deduct the full amount of an advance payment in the year the payment is made if it creates rights or benefits for the taxpayer that do not extend beyond the earlier of:

12 months after the right or benefit begins, or

The end of the tax year after the tax year in which payment is made.

Example 1: The 12-Month Rule.

Carl is a cash basis taxpayer on a calendar year.

On October 1, 2018 he pays $2,000 for business insurance covering one year.

The policy begins October 1, 2018 and ends September 30, 2019.

Result:

The 12-month rule applies.

Deduct the full $2,000 in 2018

The benefit does not extend beyond 12 months after the right to receive the benefit begins - October 1, 2018.

The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.

This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.

The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.

The number of qualified persons may become more than the job that is available for the people to do in the long run.

Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.

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Answer:

Business incubator.

Explanation:

Answer: 3. I might not be assigned to the college dormitory of my choice.

Explanation:

A senior slum refers to a condition that some high school seniors experience where they lose academic focus and begin to perform worse in academics.

A senior slump by definition, affects high school seniors which means that not being assigned to a college dormitory cannot be a consequence of it because that would require being a college student in the first place.

As the people affected are still in high school, a serious consequence would be one that affects their high school results such that they don't get into college in the first place after which they can then begin to worry about dormitories.

Answer:

3. I might not be assigned to the college dormitory of my choice.

Explanation:

Hope this helps

After the implementation of the North American Free Trade Agreement (NAFTA), the United States reduces its tariff on Mexican tortillas from 25% to 0. While the price of tortillas in the United States is expected to fall after the tariff reduction, it may not decrease by the exact amount of the tariff. The actual price reduction will depend on various market factors and conditions.

Tariffs are taxes imposed on imported goods, which increase the price of those goods for consumers. When a tariff is reduced or eliminated, it typically leads to a decrease in the price of imported goods. However, the exact price reduction may not necessarily be equal to the tariff rate.

In this case, when the U.S. tariff on Mexican tortillas decreases from 25% to 0, the price of tortillas in the United States is expected to decrease. The graph representing the supply and demand for tortillas will illustrate this.

Before the tariff reduction, the supply curve of Mexican tortillas is shifted upward by the amount of the tariff (25%), resulting in a higher price for tortillas in the United States. After the tariff reduction, the supply curve shifts back to its original position, leading to a decrease in price. However, the price reduction may not be exactly equal to 25% because there are other factors affecting the price of tortillas, such as production costs, transportation costs, and market competition.

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The down payment less the closing charges less the purchase price is the mortgage loan's principle.

When you enter into a mortgage with a lender, you give the lender the right to seize the property if they are unable to make the loan amount back plus the interest. You might be able to get a mortgage loan that will enable you buy a new house using the worth of the an existing home as security.

Mortgage loans assist people in financing the purchase of real estate by taking a small portion of the property's overall worth as payment. How Do Mortgages Work A mortgage is a loan used to pay for the upkeep of a home, piece of land, or other kinds of rental properties.

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Its well-known folding hamper took 1,200 labor hours to produce 20,000 pieces, 50 setups, and 20% of the product-level cost pool. The product will receive a 7500 unit-level cost allocation.

The cost is the total amount of money spent by a company on the creation or production of goods or services. The profit margin markup is not included. The cost of a product manager, the cost of product design, the cost of product packaging design, the cost of issuing an engineering change order, and the cost of product advertising are a few examples of product-level operations.

The cost, as seen from the seller's viewpoint, is the total quantity of money used to produce a thing or product.

Unit level cost = (30000/12000*3000)

= 7500

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So, the leverage on your investment was approximately 37:1.

A. To calculate the amount of money in the margin account, we first need to calculate the change in the futures price.

The change in price is:

$980 - $978.43 = $1.57

Since the initial margin requirement is $27 per contract, and the change in price is $1.57, the change in the margin account is:

$27 - $1.57 = $25.43

So, the amount of money in the margin account at the close of day Tuesday is:

$27 - $1.57 = $25.43

B. The leverage on your investment is the ratio of the face value of the futures contract to the initial margin requirement. In this case, the face value of the futures contract is $1,000 and the initial margin requirement is $27, so the leverage is:

$1,000 / $27 = 37.04

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Multidomestic strategy requires that a firm differentiate its products and marketing strategy from country to country, even though it may raise costs.

A multidomestic strategy is an international business approach where a company customizes its products, services, and marketing strategies to meet the specific needs and preferences of each local market it operates in. This strategy acknowledges the cultural, economic, and regulatory differences across countries and tailors the company's offerings to fit the unique demands of each market. While implementing a multidomestic strategy may increase costs due to the need for customization and localized operations, it can provide significant benefits. By adapting products and marketing strategies to match local preferences, companies can enhance customer satisfaction, gain a competitive advantage, and achieve higher market penetration in each country. Multidomestic strategy recognizes the importance of local responsiveness and acknowledges that what works in one market may not work in another. It allows companies to address the diverse needs and tastes of customers in different countries, leading to improved brand loyalty and market success.

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Answer:

rental

Explanation:

Business EDG 2021

A salary is an example of labor income. Thus, option A is correct.

An income can be defined as the amount which is earned by a person. It can be with respect to any job that he or she has done. It can also be from an investment. It is the amount that is taxable and is being paid to the government

Salary can be defined as the amount an employee or a person who renders a service gets paid. It is for the person who has some expertise in a particular role, and for that, they get a salary.

A salary is an example of labor income. It is because most salaries are based on the services provided. A labor income is also one who renders their service. As a result, salary will be a separate column which will be present.

Therefore, option A is the correct option.

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