Lime manufactures two products, Regular and Premium, and applies
overhead on the basis of machine hours. Anticipated overhead and
machine hour time for the upcoming accounting period are $700,000
and

Answers

Answer 1

Lime is a manufacturing company that produces two products, Regular and Premium. The company applies overhead based on machine hours. For the upcoming accounting period, the expected overhead is $700,000 and machine hour time is 50,000 hours. The company uses the predetermined overhead rate to apply overhead to the products.

Predetermined overhead rate is calculated by dividing the estimated overhead cost by the estimated machine hours. In this case, the predetermined overhead rate would be $700,000 / 50,000 machine hours = $14 per machine hour.

Once the predetermined overhead rate is calculated, the company can apply overhead to the products based on the machine hours used in producing them. For example, if the Regular product requires 10 machine hours to produce and the Premium product requires 20 machine hours to produce, the overhead applied to each product would be as follows:

Regular: 10 machine hours x $14 per machine hour = $140 overhead applied
Premium: 20 machine hours x $14 per machine hour = $280 overhead applied

By applying overhead based on machine hours, the company can ensure that the cost of producing each product includes a fair share of the overhead costs. This helps the company to accurately determine the cost of each product and make informed decisions about pricing, production, and profitability.

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Related Questions

What is a swot anaylasis

Answers

SWOT analysis is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.

I hope this helped!! <3

Answer:

a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.

Explanation:

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if a business onwer wanted to create a banner ad for his business on website

Answers

By developing, a business owner can run a program in a web browser to make a banner ad for his or her company on their website.

What is a banner advertisement?

The term "banner ad" refers to the lengthy commercial that appears at the top of a website when you are browsing online. A page's top or side will have a thin bar with banner advertisements in it. Web banners and display adverts are other names for these paid advertisements.

What are the prices of banner ads?

You want to know how much it will cost you to run  banner advertising if you're going to put in the time and effort to do so. PPC advertisements and banner ads both function similarly.

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Referring to an individual as “a person with schizophrenia,” as opposed to “a schizophrenic,” is an example using _____________ language.

Diagnostic
People-first
Inappropriate
Boundary-safe

Answers

Answer:

People-first

Explanation:

People-first language is a form of linguistic medication style involving a speaker putting a person before describing the actual diagnosis, that is, what a person "has" rather than asserting what a person "is."

For example, “a man walks with crutches” rather than” he is disabled.” Person-first language tends to be positive and promotes abilities rather than limitations.

Hence, in this case, Referring to an individual as “a person with schizophrenia,” as opposed to “a schizophrenic,” is an example using PEOPLE-FIRST Language.

Everything else held constant, an increase in the excess reserves ratio causes the m1 money multiplier to ________ and the money supply to ________.

Answers

The M1 money multiplier decreases and the money supply decreases when the required reserve ratio on checkable deposits rises, all else being equal.

What is the reserve ratio?

The percentage of deposits that commercial banks must retain in cash under the guidance of the central bank is known as the cash reserve ratio.

How is reserve ratio determined?The country's central bank, in the instance of the United States, the Federal Reserve, determines the reserve ratio requirement. The calculation for a bank can be obtained by dividing the bank deposits by the cash reserve held with the central bank, and it is expressed as a percentage.What is an example of the reserve ratio?

The required reserve ratio is directly correlated to how much a bank expands the money supply. For instance, if a bank has deposits totaling $1,000,000 and a reserve ratio of 10%, it can lend out $900,000.

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Which supply chain planning process is defined as hierarchical planning process that translates annual business plans, marketing plans, and demand forecasts into a production?
a) Master Production Scheduling (MPS)
b) Sales and Operations Planning (S&OP)
c) Aggregate Production Planning (APP)
d) Material Requirements Planning (MRP)

Answers

Sales and Operations Planning (S&OP) supply chain planning process is defined as hierarchical planning process that translates annual business plans. The answer is option B

Aggregate Production Plan (APP) is a hierarchical planning technique that creates a production plan for a family of products in a plant or facility based on annual business, marketing, and demand planning. Production, distribution, warehousing, transportation, inventory management, forecasting.

Performance management are only a few of the primary functional areas of supply chain planning that are covered by the phrase "hierarchical and supply chain planning." With these planning techniques, you must first create a planning hierarchy for the information structure in order to plan its main figures.

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Services’ marketing is not as advanced as products marketing.
true or false

Answers

Answer:

false

Explanation:

Question 2. Small Town Sweets—audit planning analytics (4%)
Small Town Sweets is based in Molong, NSW, and produces a range of high-quality confectionery for the East Coast market. Small Town Sweets operates in a low-margin environment, which typically means that large volumes are required to cover overhead costs and generate profits. It also means that overheads need to be kept under control to ensure that a net profit is generated from its operations. Debt is also kept to a minimum to ensure that interest costs are low and that there is sufficient margin to protect solvency during downturns.
The company did not reach industry profitability benchmarks in the previous year and budgeted to do better in the current year. It thought that it could do so by keeping its costs down in relation to sales while allowing its gross margin to drop, evidently planning to generate a larger volume of sales. The company also planned to better manage its working capital by reducing inventory and accounts receivable levels, indicating that it expected to produce a healthy cash flow to enable it to do so. As part of the planning process MCA has produced the following analytical information:
Ratio Actual Budgeted Prior Year Industry
Return on equity % 12.9 16.6 14.8 15.5
Return on total assets % 10.7 14.2 13.1 14.5
Gross margin % 8.5 9.0 9.5 9.0
Marketing expense/sales % 2.6 1.8 2.0 2.2
Admin expenses/sales % 1.6 1.6 1.8 2.0
Interest coverage ratio 5.4 8.1 6.4 6.0
Days in inventory 33.1 30.4 31.1 30.0
Days in accounts receivable 50.0 48.0 49.7 45.0
Current ratio 1.3 1.2 1.2 1.5
Quick asset ratio 0.81 0.77 0.77 1.0
Debt to equity ratio 0.51 0.33 0.41 0.40
Required
With reference to ASA 315 and the information above, identify and justify:
the three ratios that would be of most interest in the planning of the audit.
the account balance that is most at risk for each ratio identified in 1.
the assertion most at risk for each account balance identified in 2.
Answer this question using the following headings:
1. Ratio
2. Account balance
3. Assertion

Answers

Ratio:

a) Return on equity %

b) Days in inventory

c) Days in accounts receivable

Account balance:

a) Net income

b) Inventory

c) Accounts receivable

Assertion:

a) Existence

b) Valuation

c) Completeness

Justification:

Ratio:

a) Return on equity %: Return on equity is a key profitability ratio that measures the company's ability to generate profits for shareholders. It is of interest to auditors as it provides insight into the effectiveness of the company's management team in generating profits. A lower than expected return on equity could indicate mismanagement or fraudulent activity.

b) Days in inventory: Days in inventory is a ratio that measures the average number of days it takes for inventory to be sold. It is of interest to auditors as it provides insight into the efficiency of the company's inventory management system. A high number of days in inventory could indicate that inventory is not being managed efficiently, leading to potential overstatement of inventory and understatement of cost of sales.

c) Days in accounts receivable: Days in accounts receivable is a ratio that measures the average number of days it takes for customers to pay their bills. It is of interest to auditors as it provides insight into the efficiency of the company's accounts receivable management system. A high number of days in accounts receivable could indicate that the company is not collecting receivables in a timely manner, leading to potential overstatement of accounts receivable and understatement of bad debts.

Account balance:

a) Net income: Net income is the primary measure of a company's profitability. It is at risk if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.

b) Inventory: Inventory is a major component of cost of sales and is at risk if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.

c) Accounts receivable: Accounts receivable represent amounts owed to the company by customers. They are at risk if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.

Assertion:

a) Existence: The existence assertion is at risk for net income if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.

b) Valuation: The valuation assertion is at risk for inventory if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.

c) Completeness: The completeness assertion is at risk for accounts receivable if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.

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Which of the following factors is most likely to result in delivery delays?


Forecast of bad weather or road closures

Answers

The forecast of bad weather or road closures is most likely to result in delivery delays. These factors affect transportation, causing delays in the delivery process. It is important for businesses to monitor weather and road conditions and adjust delivery schedules accordingly to minimize the impact.

Forecast of bad weather or road closures can significantly impact delivery schedules, leading to delivery delays. Bad weather can cause unsafe road conditions, which can slow down or even halt transportation. For example, heavy snowfall, thunderstorms, hurricanes, and other weather events can make roads impassable or dangerous for drivers, leading to delays in delivery.

Road closures or construction can also cause delays, as drivers may need to take alternate routes or deal with traffic congestion. These factors can be especially problematic for time-sensitive shipments, where even minor delays can have a significant impact on the recipient's schedule. In such cases, shipping companies and logistics providers may need to adjust their delivery schedules, reroute shipments, or employ other strategies to ensure timely delivery.

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Periodic Inventory Using FIFO, LIFO, and Weighted Average Cost Methods
The units of an item available for sale during the year were as follows:
Jan. 1, Inventory = 13 units at $3,100 = $40,300
Aug. 7, Purchase = 20 units at $3,400 = 68,000
Dec. 11, Purchase = 14 units at $3,600 = 50,400
Total = 47 units = $158,700
There are 19 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using (a) the first-in, first- out (FIFO) method; (b) the last-in, first-out (LIFO) method; and (c) the weighted average cost method (Round per unit cost to two decimal places and your final answer to the nearest whole dollar).
a. First-in, first-out (FIFO) $______
b. Last-in, first-out (LIFO) $______
c. Weighted average cost $______

Answers

The inventory costs calculated using the periodic inventory system are as follows: FIFO ($61,950), LIFO ($56,550), and weighted average cost ($59,010).

a. First-in, first-out (FIFO) method:

Under the FIFO method, it is assumed that the first units purchased are the first ones sold. Therefore, the cost of the ending inventory consists of the cost of the most recent purchases. Calculating the FIFO inventory cost:

13 units from Jan. 1 at $3,100 = $40,300

6 units from Aug. 7 at $3,400 = $20,400

19 units from Dec. 11 at $3,600 = $68,400

= $61,950

b. Last-in, first-out (LIFO) method:

The LIFO method assumes that the last units purchased are the first ones sold. Hence, the cost of the ending inventory consists of the cost of the earliest purchases. Computing the LIFO inventory cost:

14 units from Dec. 11 at $3,600 = $50,400

19 units from Aug. 7 at $3,400 = $64,600

6 units from Aug. 7 at $3,400 = $20,400

= $56,550

c. Weighted average cost method:

Under the weighted average cost method, the cost of the ending inventory is determined by calculating the weighted average cost per unit and applying it to the number of units in the inventory. The weighted average cost per unit is obtained by dividing the total cost of available units by the total number of units. Computing the weighted average cost inventory:

Total cost of available units = $158,700

Total number of units = 47

Weighted average cost per unit = $158,700 / 47 = $3,370.21

Number of units in ending inventory = 19

Weighted average cost inventory = $3,370.21 * 19 = $63,931.99 ≈ $59,010 (rounded to the nearest whole dollar)

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how would you defend an organizational commitment to business ethics

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Defending an organizational commitment to business ethics involves emphasizing the importance and benefits of ethical conduct in various aspects of the organization's operations. Here are some key points to consider when defending an organizational commitment to business ethics:

Reputation and Stakeholder Trust: Ethical behavior helps build and maintain a positive reputation for the organization. By demonstrating a commitment to ethical practices, the organization can earn the trust and confidence of stakeholders, including customers, employees, investors, and the community.

Long-Term Sustainability: Ethical behavior is essential for long-term sustainability and success. Unethical actions may lead to legal issues, financial penalties, and reputational damage that can harm the organization's prospects in the long run. Demonstrating ethical conduct promotes stability, growth, and resilience.

Employee Engagement and Retention: An organizational commitment to business ethics contributes to a positive work environment. Employees feel proud to be associated with an ethical organization and are more likely to be engaged and committed to their work. Ethical practices also enhance employee retention, as individuals prefer to work for companies that align with their personal values.

Customer Loyalty and Satisfaction: Ethical behavior is highly valued by customers. When organizations act ethically, they earn the trust and loyalty of customers who appreciate transparency, fair practices, and a focus on social responsibility. Ethical conduct enhances customer satisfaction and can lead to increased customer loyalty and positive word-of-mouth.

Legal Compliance and Risk Mitigation: Ethical behavior ensures compliance with laws, regulations, and industry standards. Organizations that prioritize ethics are more likely to mitigate legal and regulatory risks, avoiding costly penalties and potential damage to their reputation.

Competitive Advantage: Ethical behavior can serve as a unique selling proposition for the organization. It differentiates the organization from competitors, attracting customers and partners who value ethical practices. It can also provide a basis for marketing and branding strategies that highlight the organization's commitment to ethics.

Social Responsibility: Organizations have a responsibility to contribute positively to society. By adhering to ethical principles, organizations can make a meaningful impact by considering environmental sustainability, promoting diversity and inclusion, supporting local communities, and engaging in philanthropic activities.

Ethical Leadership: Demonstrating ethical behavior starts at the top with strong ethical leadership. When leaders prioritize and model ethical conduct, it sets the tone for the entire organization. Ethical leadership fosters a culture of integrity, accountability, and responsible decision-making.

By articulating these points and showcasing the tangible benefits of ethical behavior, you can effectively defend an organizational commitment to business ethics. Emphasizing that ethics is not just a moral imperative but also a strategic advantage can help garner support and buy-in from stakeholders at all levels.

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1 Determine the cost recorded in the journal for the following situation;

Blazing Co. is looking for a new stove and has narrowed down their purchase to two different stoves.

Stove 1 cost 1,500

Stove 2 costs 1,700

Negotiated cost for Stove #2 1,400


They ran the numbers and decided that they want to purchase stove #1

They were able to negotiate the price on stove #1 to be $50.00 cheaper.


Cost of Stove

Answers

The information that must be recorded in the accounting book of the Blazing Co. company is the final price of stove #1, that is, $1,450.

What is the final price of stove #1?

To calculate the price of stove #1 we must discount $50.00 (discount) from its initial sale price.

$1,500 - $50 = $1,450

According to the above, its final price would be $1,450

What information do we record in the ledger?

The information that we must record in the accounting book of the Blazing Co. company is the price at which the stove was purchased, that is, $1,450.

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Last year, lagunes outdoor issued $1 million in unsecured, noncallable debt. this debt pays an annual interest payment of $55 and matures six years from now. the face value is $1,000 and the market price is $1,020. which one of these terms correctly describes a feature of this debt?

Answers

The feature of this debt that is correctly described by the given information is that it is trading at a premium.The face value of the debt is $1,000, which is the amount that will be paid back to the lender at maturity.

The fact that the market price is $1,020 means that investors are willing to pay more than the face value of the debt to acquire it. This premium is likely due to the fact that the annual interest payment of $55 represents a higher yield than other comparable investments available in the market.The fact that the debt is unsecured and noncallable means that it is not backed by any collateral and cannot be called back by the issuer prior to maturity. These are also important features of the debt, but they are not specifically indicated by the given information.

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Your friends sees your answer #1 and assumes that each of those people has a high credit score . Why is your friend incorrect ?

Answers

Answer:

To have a high credit score, you must have been consistent with your debt repayment since you started taking loans.

Your friend would therefore be incorrect in assuming that all those who did not miss a payment in one single year will all high credit scores because your friend is not taking into account the previous years.

Some of those people might have delayed or defaulted on previous loans for one reason or the other but were able to keep up with new payments in 2015. Whilst this would improve their credit score, it would still be low as a result of the actions of the previous years that decreased it.

Your friends sees your answer #1 and assumes that each of those people has a high credit score . Why

write a real life experience that illustrates the process of recruiting, selecting, and training employees.​

Answers

I am not sure I’m sorry

Answer:

Being an astronaut

Explanation:

Hilton Corp. has revenues of $1,214,800, costs of $816,355, and pays a tax rate of 32 percent. If the firm pays out 50 percent of its earnings as dividends every year, what is the amount of retained earnings

Answers

Answer:

its $133,471.30

Explanation:

From the perspective of access to capital, the best form of business organization is the?

Answers

From the perspective of an access to the capital, the best form of business organization is the corporation.

A corporation is a government-approved company separate from its owners (also called shareholders).

Companies can be owned by individuals and/or other legal entities, and ownership can be easily transferred through the sale of shares.

Because the corporation is a separate legal entity, it can take legal action on its own in the event of a lawsuit, shielding the owner from personal liability.

Corporate benefits include personal liability protection, business security and continuity, and easy access to capital.

Corporate disadvantages include time and double taxation, as well as strict procedures and protocols that must be followed.

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How is a credit union different from a bank?
O Acredit union offers services to companies instead of individuals.
A credit union only offers credit, it does not store money.
Acredit union is usually larger than a bank.
O A credit union is owned by its customers.

Answers

Answer:

a credit union is owned by its costumers (D)

Explanation:

i took the assignment!!

Why might'some people still prefer manually saving their money
manually transfer or deposit money into their savings account?

Answers

People prefer to do things the way they want. A lot or some people still prefer manually saving their money because;

They do not know much about banking or the importance of having a savings account.They need Emergency funds.So as to Keep track of their spending. Avoid using credit to pay one's bills

Why do people find it  difficult saving money? Many would not be about to track your spending when it comes to saving and as such they become difficult when ask to save it.

A lot of people do not want to pay the bank charges and so do not want to open an account. Many also are not aware of the importance of saving in a bank. Awareness to the people therefore will handle the issue of manual savings.

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The company announce a three-for-one tock plit. You will wind up with 1,500 hare after the plit. How many hare did you have before the plit?

Answers

You would have had 500 shares before the three-for-one stock split.

A stock split occurs when a company increases the number of shares outstanding by issuing more shares to current shareholders. In a

three-for-one stock split, for every one share a shareholder owns, they will receive two additional shares. This results in a tripling of the number of shares outstanding and a corresponding reduction in the per-share price of the stock. In the scenario provided, it is stated that you will wind up with 1,500 shares after the split. To determine the number of shares you had before the split, you can divide the number of shares you will have after the split by the split ratio. In this case, the split ratio is 3-for-1, so to find the number of shares before the split, you divide 1,500 by 3 which is equal to 500 shares.

It's worth noting that stock split doesn't change the underlying value of the company, the market capitalization of a company will remain the same before and after a split. Also, stock split is generally used by companies whose stock is trading at a high price per share, to make it more accessible to a larger number of investors.

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you went on the job interview for the sales associate position at the store. What are four questions you could ask yourself to help you evaluate how well you did in the interview?

Answers

You attended the interview for the job of sales associate at the shop. A small introduction, strengths and weaknesses, skills, and an evaluation of your performance in the interview are the four questions you can use to gauge your performance.

What is the main query in the interview for the post of sales associate at the store?

Introduce yourself with strengths and weaknesses, skills, and an evaluation of your performance. shortly.

What is your history as a sales associate in terms of consistently reaching quotas?

What criteria do you employ to decide whether a product is suitable for your target market?

Tell me about a time when you dealt with a customer who was irate because there was a lack of a product they wanted to purchase.

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All else equal, when a government increases an excise tax on a good or service, tax revenue
a. increases.
b. does not change.
c. changes uncertainly.
d. decreases.

Answers

When a government increases an excise tax on a good or service, the tax revenue decreases.

An excise tax is a tax on a specific good or service that is imposed by the government.

It is usually added to the price of the good or service,

so the consumer pays the tax, but the supplier or manufacturer is responsible for collecting and remitting it to the government.

The amount of excise tax imposed on a good or service depends on the government's policy goals.

It may be intended to raise revenue for the government, discourage the consumption of certain goods or services,

or correct market externalities caused by the production or consumption of the good or service.

All else being equal, when a government increases an excise tax on a good or service, the tax revenue decreases.

This is because the increase in the tax makes the good or service more expensive, which reduces the quantity demanded by consumers.

The reduction in demand leads to a decrease in sales and tax revenue.

In addition, the increase in the tax may encourage consumers to switch to substitute goods or services that are not taxed as heavily,

further reducing the demand for the taxed good or service.

As a result, the government may not achieve its revenue-raising goal,

and may instead end up collecting less revenue than before the tax increase.

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What type of economic system am I part of?

Answers

I currently live in a country with a mixed-market economic system. My state maintains this industrial structure by offering inhabitants a variety of economic opportunities.

What makes a mixed economy crucial?

Private placement is permitted in a communist system, encouraging healthy competition and the prospect of profit. Additionally, it promotes the nationalization of the industrial sector, which might help the government achieve its welfare aims.

Why do we use foreign investment?

Actually, the Indian government allocates and makes use of resources by encouraging foreign investment. As a result, it can reduce cyclical variations, prevent gaps, and improve production efficiency. Personal property comes first in the guarantee.

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Please give a thorough explanation of the following with good examples:
With all that is known about New Product Development (NPD), with real-world examples of what it takes to successfully launch a product, and with the cautionary tales about what not to do, why do so many new products fail? In your response, discuss how knowledge of the R-W-W Framework and the role of innovation may lead to more new product success stories.

Answers

Many new products fail despite knowledge of NPD, but the R-W-W Framework and innovation can improve success rates by addressing market needs and providing a structured approach.

The failure of new products can be attributed to several factors. One common reason is a lack of understanding of the target market and customer needs. If a product does not solve a significant problem or meet a genuine need, it is likely to struggle in the market. Additionally, inadequate planning and execution can lead to failures, including insufficient market research, ineffective marketing strategies, and poor product positioning.

Innovation plays a crucial role in the success of new products. By introducing unique features, functionality, or design elements, innovative products have a better chance of capturing customers' attention and creating a competitive advantage. Innovation can also address unmet needs or provide improved solutions, making the product more appealing to the target market.

The R-W-W Framework, which stands for Real, Win, and Worth It, provides a structured approach to evaluate new product opportunities. It emphasizes the importance of assessing market realities, competitive advantages, and value propositions. By following this framework, companies can gain a better understanding of the market dynamics, identify their unique selling points, and ensure that the product offers significant value to customers.

Incorporating the R-W-W Framework along with a focus on innovation increases the likelihood of new product success. It encourages companies to conduct thorough market research, identify gaps and opportunities, develop compelling value propositions, and create products that align with customer preferences and market demand. This approach minimizes the risk of launching products that are unlikely to succeed and increases the chances of delivering successful innovations that resonate with customers.

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Spending plans are divided into three categories with roughly ______% of the after tax budget going to the category of needs and _____________ % of the after tax budget going to wants, with the rest going to esi.

Answers

Spending plans are divided into three categories with roughly 50% of the after tax budget going to the category of needs and 30 % of the after tax budget going to wants, with the rest going to ESI.

More about Spending plans:

A spending plan is a way to allocate your income to the assortment of needs and wants. You can effectively manage your finances and choose where to spend your money by making a spending plan in advance.

In the spending plan daily costs and short-term spending are your needs. Consider your rent or mortgage payment, groceries, gas, auto payments, and so on. You must budget for these expenses because, well, you can end up in some serious financial difficulty if you don't.

The items and experiences you want and wish to budget for are often your wants. Taking a trip with friends or family over the weekend, attending a concert, or going out to dinner are some examples.

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We've Come a Long Way From Where We Began

Answers

Answer:

oh ill tell you all about it when i see you again

Explanation:

A debt-free firm has net income of $71,600, taxes of $31,500, and depreciation of $11,000. what is the net cash flow?

Answers

A debt-free firm has a net income of $71,600, taxes of $31,500, and depreciation of $11,000 so the net cash flow is $78400

Depreciation refers to two aspects of the same concept: first, the actual decrease in the fair value of the asset, such as the decrease in the value of plant equipment each year as it is used. and depreciation, and secondly, the allocation on the statement of the historical cost of the asset over the useful life of the asset (allocation according to the principle of attachment).

Thus, depreciation is the decrease in value of an asset and the method used to reallocate or "depreciate" the cost of a tangible asset (such as equipment) over its useful life. its use. Companies depreciate long-lived assets for accounting and tax purposes.

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It’s a good idea to use a _____ to track your job hunting efforts.


map

scrapbook

journal

calendar

Answers

answer is journallll

A study was conducted to determine if consumers are more likely to choose a vice product (e.g., a candy bar) when their arm is flexed (as when carrying a shopping basket) than when their arm is extended (as when pushing a shopping cart). The study measured choice scores (on a scale of 0 to 100 , where higher scores indicate a greater preference for vice options) for consumer shopping under each of the two conditions. The average choice score for consumers with a flexed arm was 60 , while the average for consumers with an extended arm was 43 . For both conditions, assume that the standard deviation of the choice scores is 6 . Also assume that both distributions are approximately normally distributed. Complete parts a. and b. a. In the flexed arm condition, what is the probability that a consumer has a choice score of 57 or greater? The probability that a consumer in the flexed arm condition has a choice score of 57 or greater is (Round to three decimal places as needed.)

Answers

The probability that a consumer in the flexed arm condition has a choice score of 57 or greater is approximately 0.692.

To determine the probability that a consumer in the flexed arm condition has a choice score of 57 or greater, we can use the standard normal distribution.Given that the average choice score for consumers with a flexed arm is 60, and the standard deviation is 6, we can calculate the z-score for a choice score of 57 using the formula:

z = (X - μ) / σ

where X is the choice score, μ is the mean, and σ is the standard deviation.

In this case, X = 57, μ = 60, and σ = 6. Plugging these values into the formula, we get:

z = (57 - 60) / 6

z = -0.5

Using a standard normal distribution table or a calculator, we can find the corresponding probability for a z-score of -0.5. The probability is the area under the curve to the right of the z-score.

Looking up the z-score of -0.5 in the standard normal distribution table, we find that the probability is approximately 0.6915.

Therefore, the probability that a consumer in the flexed arm condition has a choice score of 57 or greater is approximately 0.692.

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Mary accepts Joe's offer to buy 100 comic books. She sends her acceptance via fax. Mary and Joe live in a jurisdiction that applies the majority rule. When does her fax become effective?

Answers

Mary's acceptance of Joe's offer to buy 100 comic books becomes effective when it is received by Joe via fax. Under the majority rule, the acceptance is considered effective upon dispatch only if it is properly addressed, packaged, and has the necessary postage.

However, in this case, Mary's acceptance was sent via fax, and therefore, it becomes effective upon receipt by Joe. This means that Joe must have received Mary's acceptance for the offer to be considered legally binding.

It is essential to note that the majority rule is not applicable in all jurisdictions. Some jurisdictions follow the minority rule, which requires that the acceptance is effective upon receipt, regardless of how it is sent. Therefore, it is crucial to understand the applicable rule in your jurisdiction to ensure that your acceptance is legally binding.

In conclusion, Mary's acceptance of Joe's offer to buy 100 comic books becomes effective when it is received by Joe via fax. It is essential to understand the applicable rule in your jurisdiction to ensure that your acceptance is legally binding.

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Use the sum-of-year depreciation method to calculate the depreciation for the
following scenario. Company XYZ bought a new machine for $100,000 and
expects the machine will last for 10 years.

Answers

Answer:

20%

Explanation:

How to Calculate Straight Line Depreciation

The straight line calculation steps are:

Determine the cost of the asset.

Subtract the estimated salvage value of the asset from the cost of the asset to get the total depreciable amount.

Determine the useful life of the asset.

Divide the sum of step (2) by the number arrived at in step (3) to get the annual depreciation amount.

Straight Line Example

Company A purchases a machine for $100,000 with an estimated salvage value of $20,000 and a useful life of 5 years.

The straight line depreciation for the machine would be calculated as follows:

Cost of the asset: $100,000

Cost of the asset – Estimated salvage value: $100,000 – $20,000 = $80,000 total depreciable cost

Useful life of the asset: 5 years

Divide step (2) by step (3): $80,000 / 5 years = $16,000 annual depreciation amount

Therefore, Company A would depreciate the machine at the amount of $16,000 annually for 5 years.

The depreciation rate can also be calculated if the annual depreciation amount is known. The depreciation rate is the annual depreciation amount / total depreciable cost. In this case, the machine has a straight-line depreciation rate of $16,000 / $80,000 = 20%.

Use the sum-of-year depreciation method to calculate the depreciation for thefollowing scenario. Company
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