Answer:
Raw material purchased = $1,161,000
Explanation:
Raw material purchase budget is determined by adjusting the raw material usage budget for opening and closing inventory of materials.
Purchase budget = usage budgeted + closing inventory - Opening inventory
Purchase budget = 1,098,000 + 626,000 - 563,000= $1,161,000
Note the closing inventory represents the stock of materials needed to be kept, hence it will increase the purchase budget. So we added.
On the other hand hands, the opening inventory represented what already existed , hence we subtracted it as it will reduce what will be required.
Raw material purchased = $1,161,000
Factors of production are the parts of the economy that:
O A. protect consumers during difficult economic times
O B. prevent the government from interfering with the economy.
O C. are necessary for creating goods and services.
D. measure the health of an economy at any time.
SUBM
Factors of production are the parts of the economy that Option C. are necessary for creating goods and services.
Factors of production are the essential elements that contribute to the creation of goods and services within an economy. Factors of production are necessary for creating goods and services.
These factors include land, labor, capital, and entrepreneurship. Land refers to the natural resources used in production, such as water, minerals, and fertile soil. Labor involves the human effort and skills applied to produce goods and services. Capital includes the tools, machinery, and infrastructure required for production, while entrepreneurship involves the innovation, risk-taking, and management skills necessary to organize and operate a business.
Together, these factors of production work in harmony to transform raw materials into goods and services that can be consumed by individuals, businesses, and governments. The efficiency and effectiveness of these factors determine the overall productivity of an economy, as well as its ability to grow and generate wealth.
In summary, factors of production are essential components of an economy that enable the creation of goods and services. By utilizing land, labor, capital, and entrepreneurship, societies can generate valuable products and services that contribute to economic growth and improved standards of living. Therefore, the correct option is C.
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6. Why do employees often feel that appraisals “highlight all the bad things they did all year?”
Answer:
Explanation:
Performance appraisal is the method by which the performance of an employee is determined by the employer. It's main purpose is to eliminate the performance deficiencies of the employees. It is a part of career management.
The appraisals stress on the need to have more efficient employee and the deficiencies of the employee pointed out by the appraisal are overcome by the employee by taking the required training. Thus the employees feel that appraisals highlight all the bad things they did al year.
Interim financial statements:
A. Are always prepared before any adjustments have been recorded.
B. Show the liabilities above assets.
C. Cover less than one year, usually spanning one-, three-, or six-month periods.
D. Report revenues when incurred and expenses when earned
Question 5 of 10 Atax added to the cost of an item bought at a store is ain) O A credit tax 2. income tax c. property tax D sales tax
A tax added to the cost of an item bought in a store is a sales tax. Thus, option D is correct.
What is a sales tax?A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority. The sale and use tax is frequently exempted for some goods and services, including food, education, and medical. A sales tax is similar to a value-added tax (VAT) that is levied on products and services. Key distinctions can be found in the comparison with sales tax. The sale of this item is subject to a retail sales tax of 8.5%, which is shown on the cash register receipt.
Therefore, we can conclude that option D is correct.
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Describe business ethics. Provide an example to show the role they play in the workplace.
Mo’yur lawn landscaping worksheet
Answer:
Company Chart of AccountsAssets100 Cash110 Accounts Receivable120 Inventory125 Supplies128 Prepaid Insurance129 Prepaid Rent130 Computers & Software132 Accumulated Depreciation -Computers & Software136 Company Vehicles137 Accumulated Depreciation - Vehicles138 Office Building139 Accumulated Depreciation - Office Building140 Land150 Intangible Assets (Patents, Copyrights, etc.)Liabilities200 Accounts Payable210 Wages Payable220 Taxes Payable230 Short-term Loan240 Unearned Revenue220 Long-term LoanOwner's Equity300 Owner's Capital Contribution310 Owner's Draws320 Retained EarningsRevenue400 Merchandise Sales410 Fees Earned420 Other RevenueExpenses500 Wages Expense510 Rent Expense520 Utilities Expense530 Office Supplies Expense540 Depreciation Expense550 Meals & Entertainment Expense560 Maintenance & Repair Expense570 Postage Expense580 Printing Expense590 Miscellaneous Expense
5. Show that the cardinal and ordinal approaches have basically the same equilibrium conditions.
The ordinal utility theory, a consumer reaches equilibrium if the indifference curve tangents the budget line. The cause is that, given the consumer's constraints, that position gives amount of benefit.
In India, however many cardinals are there?Two important archbishops, one from each of Syro-Malabar and Syro-Malankara churches, as well as one of the four Latin Church titular patriarchs are among the bishops of India. Five of the six Indian cardinals are elected.
What does the word "cardinal" mean?Nicholas was made a cardinal in 1448. A pledge from Cardinal Winning gave them hope. The golden rule for a salesperson is to go above and beyond to please a customer.
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Roger is almost done with his feasibility study and is concerned about the financing. Up until this point, he has been operating using his own finances. He is confident that he will get the money from the investor, but he is worried that he should do something quickly to justify the money he will be getting.
Answer: work to generate ideas for a product line
Explanation:
Why do overhead costs often shift from high-volume products to low-volume products when a company switches from a conventional costing method to activity-based costing
Answer:
When a company is using conventional costing methods, the costs are allocated based on volume so those products with a high volume will get a higher share of the costs.
When Activity-based costing is used however, costs are assigned more accurately which will lead to the actual products that are causing the costs incurring them instead of those high-volume products so it will appear as though overhead costs have shifted from high-volume products to low-volume products.
Hunter has just completed his first year of operation as a sole proprietor of a successful sporting goods store. There were
challenges but he was excited about getting to keep all the profits of the venture to himself.
A) Advantage of a sole proprietorship
B)Disadvantage of a sole proprietorship
Some of the advantages and disadvantages of sole proprietorship include:
Advantage - keep all the profits Disadvantage - personally liable for any debtsWhat are the advantages and disadvantages of sole proprietorship?One of the advantages of a sole proprietorship is that the business owner gets to keep all the profits of the business for themselves. This is because the owner has complete control over the business and is not required to share the profits with any other partners or shareholders.
One of the disadvantages of a sole proprietorship is that the business owner is personally liable for any debts or legal issues that arise in the course of business.
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If Congress wanted to use contractionary fiscal policy to combat inflation, they wouldQuestion 10 options:Raise taxes and cut spendingCut taxes and raise spendingRaise taxes and raise spendingCut taxes and cut spendingDestroy moneyPrint money
If Congress wanted to use contractionary fiscal policy to combat inflation, they would raise taxes and cut spending.
Contractionary fiscal policy refers to measures taken by the government to reduce the size of the economy by decreasing the amount of money circulating in the economy. This policy is often used to combat inflation, which occurs when the general price level of goods and services is rising. Inflation can lead to a decrease in the purchasing power of money and erode the value of savings.
To implement a contractionary fiscal policy, Congress would raise taxes and cut spending.
Raising taxes means increasing the amount of money the government collects from individuals and businesses. This action reduces disposable income, leading to less consumer spending and a decrease in aggregate demand. As a result, the demand for goods and services decreases, which helps to lower inflation.
On the other hand, cutting government spending means reducing the amount of money the government spends on various programs and services. This action directly reduces the demand for goods and services in the economy, as the government is a significant spender. When government spending decreases, it further contributes to the reduction in aggregate demand, which in turn helps to combat inflation.
In summary, to use contractionary fiscal policy to combat inflation, Congress would raise taxes and cut spending. This action would reduce disposable income and decrease aggregate demand, leading to a reduction in the general price level of goods and services, and ultimately help to control inflation.
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The adjusted trial balance of Parsons Company at December 31, 2020, includes the following accounts: Common Stock $15,600, Dividends $7,000, Service Revenue $37,000, Salaries and Wages Expense $16,000, Insurance Expense $2,000, Rent Expense $4,000, Supplies Expense $1,500, and Depreciation Expense $1,300.
Required:
Prepare an income statement for the year.
Answer:
$12,200
Explanation:
Preparation of an income statement for the year.
PARSONS COMPANY Income Statement
For the year ended December 31,2020
Service Revenue $37,000
Expenses:
Salaries and wages $16,000
Insurance Expense $2,000
Rent Expense $4,000
Supplies Expense $1,500
Depreciation Expense $1,300
Total Expenses $24,800
Net Income $12,200
($37,000-$24,800)
Therefore income statement for the year is $12,200
A sneaker outlet has made the following wholesale purchases of new running shoes: 12 pairs at $45, 18 pairs at $40, and 20 pairs at $50. An inventory taken last week indicates that 23 pairs are still in stock. Calculate the cost of this inventory by FIFO.
The cost of this inventory by FIFO will be $ 1120 for the sneaker outlet making purchases for pairs of shoes.
An inventory strategy known as "first in, first out" (FIFO) makes the assumption that the first items purchased are also the first items sold. This implies that more established stock will get delivered out before fresher stock and the costs or upsides of each piece of stock addresses the most reliable assessment.
Given:
12 pairs at $45
18 pairs at $40
20 pairs at $50
23 units = 20+ 3 pairs
Lost of ending inventory = 20 x $ 50 + 3 x $ 40
= $1000 + $120
= $ 1120
The likelihood of accurate results is higher with FIFO. This is due to the fact that calculating profit from stock is simpler, which makes it simpler to update your financial statements and saves time and money. Additionally, it ensures that outdated stock is not re-counted or left underutilized for an excessive amount of time.
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Select the sentence that is completely correct. Group of answer choices Todd is unsure of whether he should except the position or go into business himself. Todd is unsure of whether he should accept the position or go in to business himself. Todd is unsure whether he should accept the position or go into business himself.
Answer:
The completely correct sentence is:
Todd is unsure of whether he should accept the position or go in to business himself.
Explanation:
The adjective unsure goes with the preposition, 'of' to indicate what the subject is not certain of. Option 1 with 'except' is completely wrong. It is not the correct verb form of the word. Some people, however, omit the preposition, 'of,' but this is not completely correct.
Jerry, a partner with 30 percent capital and profits interest, received his Schedule K-1 from Plush Pillows, LP. At the beginning of the year, Jerry's tax basis in his partnership interest was $44,000. His current-year Schedule K-1 reported an ordinary loss of $9,000, long-term capital gain of $4,600, qualified dividends of $3,600, $2,100 of non-deductible expenses, a $26,000 cash contribution, and a reduction of $5,600 in his share of partnership debt. What is Jerry's adjusted basis in his partnership interest (outside basis) at the end of the year
Answer: $61,500
Explanation:
Jerry's adjusted basis in his partnership interest at the end of the year is determined by adding his cash contributions, long-term capital gain, and qualified dividends to the original tax basis.
There will also be deductions of the non-deductible expenses, ordinary loss and his share of the reduction in partnership debt.
Jerry's adjusted basis at the end of the year = ( 44,000 + 26,000 + 3,600 4,600) - ( 2,100 + 9,000 + 5,600)
= 78,200 - 16,700
= $61,500
Oriole Company has a new product going on the market next year. The following data are projections for production and sales: Variable costs $430000 Fixed costs $450000 ROI 16% Investment $2200000 Sales 200000 units What is the markup percentage
Answer:
The markup percentage is 40%
Explanation:
The computation of the markup percentage is shown below:
Markup percentage is
= Return on investment ÷ Total cost
= ($2,200,000 × 16%) ÷ ($430,000 + $450,000)
= $352,000 ÷ $880,000
= 40%
Hence, the markup percentage is 40%
We simply applied the above formula
And, the same is to be considered
Sales would be ignored in this case
what is the assumption of a fixed pie? describe the fixed pie mentality on options for mutual gains.
The researchers defined "fixed pie perceptions" as the notion held by negotiators that their own interests and goals are directly at odds with those of the counterparty.
What is negotiation?Negotiation is a conversation between two or more parties in order to resolve one or more contentious issues. It involves interactions between entities that aim to reach consensus on issues of shared interest.
The deal may be advantageous to all or some of the participants. To improve their chances of closing transactions, preventing conflicts, developing connections with other parties, or maximizing mutual benefits, the negotiators should identify their own needs and objectives while also attempting to understand those of others involved.
Negotiation's objectives include resolving issues of contention, gaining an advantage for an individual or group, or creating solutions that fulfill a range of interests.
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The Jackson-Timberlake Wardrobe Co. just paid a dividend of $1.10 per share on its stock. The dividends are expected to grow at a constant rate of 5 percent per year indefinitely. Investors require a return of 11 percent on the company's stock. a. What is the current stock price
Answer:
the current stock price is $19.25
Explanation:
The computation of the current stock price is shown below:
= Dividend × (1 + growth rate) ÷ (Required rate of return - growth rate)
= $1.10 × (1 + 0.05) ÷ (11% - 5%)
= $1.155 ÷ 6%
= $19.25
hence, the current stock price is $19.25
We simply applied the above formula
The brand changes form part of a strategic plan the group conceived in September last year called Ekuseni (the Zulu word for “dawn”)”
“Pick n Pay and its new CEO are taking the fight to competitors in a strategy..”
“Pick n Pay yesterday launched a new strategic plan…”
Evaluate the proposed strategy that Pick n Pay is planning to implement, including in your evaluation, the potential risks attached to the proposed new strategy
Pick n Pay's proposed strategy, known as Ekuseni, aims to implement changes in their brand and take the fight to competitors. The strategy, conceived in September last year, focuses on strategic planning and was launched recently. While the strategy holds potential for success, there are risks associated with its implementation.
1. Pick n Pay's proposed strategy, called Ekuseni, includes changes to their brand and a competitive approach to rivals. This strategic plan was conceived in September last year, with the term Ekuseni referring to "dawn" in Zulu.
2. The strategy aims to revamp the brand image and position Pick n Pay as a strong competitor in the market. By taking the fight to competitors, the company intends to gain a competitive edge and attract more customers.
3. The launch of the new strategic plan indicates that Pick n Pay is committed to implementing this strategy and achieving its goals. It demonstrates the company's intention to adapt and stay relevant in the evolving market.
4. However, like any strategic plan, there are potential risks associated with its implementation. These risks include customer resistance to changes in the brand, increased competition from rivals, and potential financial strains due to the cost of rebranding and marketing efforts.
5. Customer resistance is a common risk when brands undergo significant changes. If the proposed strategy doesn't resonate with Pick n Pay's target market, it could lead to a decline in customer loyalty and affect sales.
6. Additionally, taking the fight to competitors may trigger retaliatory actions from rival companies. This could result in intensified competition, price wars, and potential market share loss for Pick n Pay.
7. Finally, implementing a new strategic plan involves financial investments. The cost of rebranding, marketing campaigns, and operational changes may strain the company's resources, potentially impacting its financial stability.
In conclusion, while Pick n Pay's proposed strategy holds promise for the company's growth and competitiveness, there are risks involved. Proper planning, market research, and effective execution will be crucial to mitigating these risks and ensuring the success of the strategy.
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A person who wants to make sure that his or her family will have money if that person dies unexpectedly would most likely purchase____insurance.
A. liability
B. title
C. disability
D. Life
Answer:D
Explanation:
The type of insurance that a person would most likely purchase to ensure that their family will have money if they die unexpectedly is life insurance.
Life insurance is designed to provide financial support to the family or beneficiaries of the insured person in the event of the policyholder's death. It can help to cover expenses such as funeral costs, outstanding debts, mortgage payments, and other financial obligations.
Liability insurance is coverage that protects the policyholder from financial losses that may arise from legal liabilities, such as damages or injuries caused by the policyholder to others.
Title insurance is a type of insurance that protects the policyholder from financial losses resulting from defects in the title to a property.
Disability insurance provides coverage for loss of income due to a disability that prevents the policyholder from working.
Therefore, option D. Life insurance is the correct answer to the question.
he statement, “I have always wanted to work for your company,” demonstrates how an applicant can benefit the employer. Please select the best answer from the choices provided
The statement, “I have always wanted to work for your company,” demonstrates how an applicant can benefit the employer is false.
What is application as a worker?An application for employment is a typical business form that contains questions that employers think pertinent. It is employed to select the most qualified applicant for a certain position inside the business.
The claim that an applicant can get something from the employer by saying, "I have always wanted to work for your company," is untrue.
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complete question;
The statement, “I have always wanted to work for your company,” demonstrates how an applicant can benefit the employer. Please select the best answer from the choices provided
a. True
b. False
Glen, a CFO of a large corporation notes that the business’s current assets add up to $18,900. Additionally, there is a fleet of trucks which is listed as a $780,000 debit on the balance sheet (there is also $246,000 of accumulated depreciation). The only other asset is a building which is debited for $1,050,000 (104,000 of accumulated depreciation). The book value of the corporation’s shares is $920,000 while retained earnings currently have a $210,000 credit balance. How much, in total, does the corporation owe to banks, suppliers, and other parties?
Based on the company's assets and equity, the amount that it owes various stakeholders is $368,900
Amount owed by companyYou can find this using the accounting formula:
Assets = Liabilities + Equity
Expanding the formula gives:
Current assets + Book value of fixed assets = Liabilities + Book value of shares + Retained earnings
18,900 + (780,000 - 246,000) + (1,050,000 - 104,000) = Liabilities + 920,000 + 210,000
Liabilities = 8,900 + (780,000 - 246,000) + (1,050,000 - 104,000) - 920,000 - 210,000
= $368,900
In conclusion, liabilities are $368,900
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Increased access to workplace tools and information means work hours may be more _____________.
Answer:
flexible
Explanation:
thats my answer
Increased access to workplace tools and information means work hours may be more flexible.
What is workplace?Workplace refer to the place where an individual works and spend his most of the time in order to earn the money. The workplace should be clean and fewer hazards by nature in order to ensure safe working environment to the people of the organization.
The labor or the worker working in the factory is the example of the workplace. An employee works in the office. In recent times, people used to work from home instead of coming to the office.
In the workplace, there are strict rules and regulations to be followed by each and every individual to ensure the smooth running of the business and to maintain the decorum of the organization. The rules are some of each and every employee.
There is no such flexible hours of working as it depends on from organization to organization. However, the Work hours may be more flexible due to increased access to tools and information at the workplace.
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What should you remember when you
are scheduled for a job interview?
A. Look them in the eye while you speak to them.
B. You do not need to take documents with you as you
would have submitted them beforehand.
C. Get there on time or a bit late so you don't have to
wait.
D. Frequently look at your watch so they know your
time is valuable.
Answer:
A
Explanation:
Wildhorse Company established a petty cash fund on May 1, cashing a check for $125. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.55. Receipts: delivery expense $27.45, postage expense $36.25, and miscellaneous expense $55.60. July 1: Cash in fund $4.15. Receipts: delivery expense $18.90, entertainment expense $52.25, and miscellaneous expense $49.70. On July 10, Wildhorse increased the fund from $125 to $155. Prepare journal entries for Wildhorse Company.
Answer:
journal entries for Wildhorse Company are given below
Explanation:
Wildhorse Company established a petty cash fund on May 1,
DEBIT CREDIT
Petty cash $125
Cash $125
The company reimbursed the fund on June 1
DEBIT CREDIT
delivery expense $27.45
postage expense $36.25
miscellaneous expense $55.60
Cash under/over $2.15
Cash ($125-$3.55) $121.45
The company reimbursed the fund on July 1
DEBIT CREDIT
delivery expense $18.90
entertainment expense $52.25
miscellaneous expense $49.70
Cash ($125 - 4.15) $120.85
Wildhorse increased the fund from $125 to $155
DEBIT CREDIT
Petty cash $30
Cash $30
I need to create a ERD on diagram
Answer:
nice
Explanation:
omeowner's Insurance Premium
Home Owner's Policy Comparison Deductible
Policy 1 $1,600
Policy 2 $2,000
Which statement below correctly compares the premium prices for these insurance policies?
A. Policy 2 will have a higher premium because it has a lower
deductible than Policy 1.
B. Policy 1 will have a higher premium because it has a lower
deductible than Policy 2.
C. Policy 2 will have a higher premium because it has a higher
deductible than Policy 1.
D. Policy 1 will have a lower premium because it has a lower
deductible than Policy 2.
The correct statement that compares the premium prices for these insurance policies is:
B. Policy 1 will have a higher premium because it has a lower deductible than Policy 2.
In the context of insurance policies, the deductible is the amount the policyholder must pay out of pocket before the insurance coverage kicks in.
A lower deductible means the insurance company will have to cover a larger portion of the claim, which typically leads to a higher premium.
Policy 1 has a lower deductible of $1,600 compared to Policy 2's deductible of $2,000.
Therefore, Policy 1 will likely have a higher premium because the insurance company would bear a greater portion of the claim costs.
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The U.S. Department of Agriculture guarantees dairy producers that they will receive at least $1.00 per pound for butter they supply to the market. Below is the current monthly demand and supply schedules for wholesale butter (in millions of pounds per month). Market for Wholesale Butter Price (dollars per pound) Quantity of Butter Demanded (millions of pounds) Quantity of Butter Supplied (millions of pounds) $0.80 107 63 0.90 104 71 1.00 101 79 1.10 98 87 1.20 95 95 1.30 92 103 1.40 89 111 1.50 86 119 1.60 83 127 1.70 80 135 1.80 77 143 Instructions: Round your answer for price to 2 decimal places. Enter your answers for quantity as a whole number. a. What are the equilibrium price and quantity in the wholesale butter market? P = $ Q = million pounds b. What is the monthly surplus created in the wholesale butter market due to the price support (price floor) program? 22 million pounds Zero 79 million pounds 11 million pounds Suppose that a decrease in the cost of feeding cows shifts the supply schedule to the right by 40 million pounds at every price. c. Fill in the new supply schedule given the change in the cost of feeding cow
Answer:
1. Equilibrium price ,p = $1.20 per pound, equilibrium quantity = 95 million pounds.
2. Surplus = 0
Explanation:
1. From the question,
the equilibrium price = 1.20
The equilibrium quantity = 95 million per pounds.
Equilibrium is gotten when Quantity supplied = quantity demanded.
2. When price floor == $1.00
Quantity demanded = 101
Quantity supplied = 79
Monthly surplus = 79 - 101 = -22
Quantity demanded > quantity surplus.
This implies that there is no surplus.
Surplus = 0
3. If a decrease in cost of feeding cows shift supply by 40 million we will have new supply schedule =
New qs = Qs + 40
63+40 = 103
71+40= 111
79+40 = 119
87+40= 127
95 + 40 = 135
103 + 40 = 143
111+40 = 151
119 + 40 = 159
127 + 40 = 167
135 + 40 = 175
143 + 40 = 183
Diversity in the corporate world is business strategy?
10. What happens during a bank run?
The price of gold suddenly increases, which devalues bank deposits.
States charter more banks than needed.
The government orders a bank to close.
Customers attempt to withdraw more money than the bank has on hand.
The thing which happens during a bank run is:
Customers attempt to withdraw more money than the bank has on hand.What is a Bank Run?This refers to the mass withdrawal of funds by a large number of customers where the banks are unable to pay everyone because they do not have the capacity to make such large withdrawals.
With this in mind, we can see that during a bank run, the main thing which pushes people is the fear of insolvency so that they would not lose their money.
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