The value of the global arts and crafts business was estimated by Yahoo Finance to be close to $57 billion in 2021. By 2027, it's projected to be worth roughly $70 billion. Every year on March 4, the global scrapbooking industry is honoured on International Scrapbooking Industry Day. Despite the availability of digital scrapbooking, scrapbooking is still tremendously popular all over the world.
Find out the scrapbook kit's retail price.
To demonstrate what has been stated
A markup rate of 65% is used by one craft store retailer.
A $20 scrapbooking kit.
The decimal representation of 65 percent is used.
= 0.65
Price markup = 0.65 x 20
= $ 13
Scrapbook kit cost plus markup price equals the selling price.
= 13 + 20
= $33
Consequently, the scrapbook kit costs $33 to buy.
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Prepare an accrual basis income statement for the 6 month
The repair shop equipments was purchased on November 1 and has an estimated useful life of 4 years . Lease payments to the landlord are made at the beginning of each month. The part time helper is owed 420 at April 30, for unpaid wage. At April 30.2022
The net income for Oriole Company based on the information is $14063
What is the income statement about?The accrual technique for calculating income statements means that revenues are recorded (recognized) on the income statement in the accounting period in which they are earned, which is frequently different from the period in which payment from customers is received.
Instead of recording when money actually changes hands, accrual accounting tracks income and costs as they are incurred (when an invoice is made or a bill is received).
Kindly note that the income statement have been attached.
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Oriole Company, a ski tuning and repair shop, opened on November 1, 2021. The company carefully kept track of all its cash receipts and cash payments. The following information is available at the end of the ski season, April 30, 2022.
Cash
Receipts Cash
Payments
Issuance of common shares
$20,000
Payment to purchase repair shop equipment
$9,220
Rent payments to landlord
1,295
Newspaper advertising payment
340
Utility bill payments
815
Part-time helper’s wage payments
2,150
Income tax payment
10,500
Cash receipts from ski and snowboard repair services
30,100
Subtotals
50,100 24,320
Cash balance
25,780
Totals
$50,100
$50,100
The repair shop equipment was purchased on November 1 and has an estimated useful life of 5 years. Lease payments to the landlord are made at the beginning of each month. The part-time helper is owed $490 at April 30, 2022, for unpaid wages. At April 30, 2022, customers owe Oriole Company $475 for services they have received but have not yet paid for
Baird Company manufactures molded candles that are finished by hand. The company developed the following standards for a new line of drip candles:
Amount of direct materials per candle 1.20 pounds
Price of direct materials per pound $ 0.60 Quantity of labor per unit 0.90 hours
Price of direct labor per hour $ 7.60 /hour
Total budgeted fixed overhead $ 117,000 During 2017, Baird planned to produce 26,000 drip candles. Production lagged behind expectations, and it actually produced only 19,000 drip candles. At year-end, direct materials purchased and used amounted to 24,100 pounds at a unit price of $0.55 per pound. Direct labor costs were actually $7.10 per hour and 20,100 actual hours were worked to produce the drip candles. Overhead for the year actually amounted to $89,300. Overhead is applied to products using a predetermined overhead rate based on estimated units.
Required
a.&b. Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle.
c.&d. Compute the actual cost per candle for direct materials, direct labor, overhead and also the total actual cost per candle.
e. Compute the price and usage variances for direct materials and direct labor.
f. Compute the fixed cost spending and volume variances.
Compute the standard cost per candle for direct materials, direct labor, overhead and also the total standard cost for one drip candle. (Round your answers to 2 decimal places.)
Cost Standard cost per unit
Direct material Direct labor Overhead Total per candle Cost Actual cost per unit
Direct material Direct labor Overhead Total per candle Cost Variance Fav or Unfav
Direct materials: Price variance Usage variance Direct labor: Price variance Usage variance Fixed MOH cost Variance Fav or Unfav
Spending variance Volume variance
"Favorable variance" and "unfavorable variance" are terms used in variance analysis, which is a tool used by management accountants to analyze the difference between actual performance and expected performance.
a. Direct materials:
Standard cost per pound = $0.60
Standard quantity per candle = 1.20 pounds
Standard cost for direct materials per candle = $0.60 x 1.20 = $0.72
b. Direct labor:
Standard cost per hour = $7.60
Standard quantity per candle = 0.90 hours
Standard cost for direct labor per candle = $7.60 x 0.90 = $6.84
c. Overhead:
Predetermined overhead rate = Total budgeted fixed overhead / Total budgeted units
= $117,000 / 26,000
= $4.50 per unit
Standard cost for overhead per candle = $4.50
d. Total standard cost per candle:
Direct materials per candle + Direct labor per candle + Overhead per candle
= $0.72 + $6.84 + $4.50
= $12.06
e. Actual cost per candle:
Direct materials:
Actual cost per pound = $0.55
Actual quantity used per candle = 24,100 pounds / 19,000 candles = 1.27 pounds
Actual cost for direct materials per candle = $0.55 x 1.27 = $0.70
Price variance = (Standard price - Actual price) x Actual quantity
= ($0.60 - $0.55) x 1.27
= $0.06 F
Usage variance = (Standard quantity - Actual quantity) x Standard price
= (1.20 - 1.27) x $0.60
= $0.042 U
Direct labor:
Actual cost per hour = $7.10
Actual quantity per candle = 20,100 hours / 19,000 candles = 1.06 hours
Actual cost for direct labor per candle = $7.10 x 1.06 = $7.53
Price variance = (Standard price - Actual price) x Actual quantity
= ($7.60 - $7.10) x 1.06
= $0.53 F
Usage variance = (Standard quantity - Actual quantity) x Standard price
= (0.90 - 1.06) x $7.60
= $1.216 U
f. Overhead:
Spending variance = Actual overhead - Budgeted overhead
= $89,300 - $117,000
= $27,700 U
Volume variance = (Actual units - Budgeted units) x Predetermined overhead rate
= (19,000 - 26,000) x $4.50
= $31,500 F
F represents Favorable variance and U represents Unfavorable variance.
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please help i only have 10 points left now
Using the examples Pine gave, explain the difference between real fake and fake real?
The difference between the two is that real fake is something that is not real but made to look real, while fake real is something that is real but made to look more valuable or significant than it is.
Who is Pine and what is their relevance to the topic being discussed?Without similarly context, I can not be certain which "Pine" is being noted, as it's far a common surname and could talk to some of people. It might be helpful to recognize the whole call of the person in question and the specific subject matter being mentioned to offer an accurate solution.
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I will give brainliest and ratings if you get this correct
a. The profit-maximizing level of price is 7.5, and the profit-maximizing level of output is 4.5.
b. The maximum profit of the firm at an equilibrium price level is 20.25.
How to calculate the valuea. Setting the derivative of profit with respect to quantity equal to zero, we find the optimal level of output:
d((P(Q) * Q) - 3Q) / dQ = 0
=> d(12Q - Q^2 - 3Q) / dQ = 0
=> 12 - 2Q - 3 = 0
=> Q = (12 - 3) / 2 = 4.5
With this level of output, the profit-maximizing level of price can be found using the inverse demand function:
P(Q) = 12 - Q
=> P(4.5) = 12 - 4.5 = 7.5
So, the profit-maximizing level of price is 7.5, and the profit-maximizing level of output is 4.5.
B. The maximum profit can be found by substituting the profit-maximizing level of price and output into the profit equation:
Profit = (P(Q) * Q) - (Q)
=> Profit = (7.5 * 4.5) - 3 * 4.5
=> Profit = 33.75 - 13.5
=> Profit = 20.25
So, the maximum profit of the firm at an equilibrium price level is 20.25.
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The type of experience necessary to produce changes in a skill is called____ and the relatively permanent changes are called____.a. performance capacity; practice
b. their social environment
c. principle of quality
d. practice; learning
Option d: Practice, learning. The type of experience necessary to produce changes in a skill is called practice and the relatively permanent changes are called learning.
Practice is the repeated rehearsing of behaviors in order to learn and ultimately master the skill.
Experience refers to conscious events generally and perceptions more specifically, or the practical knowledge and familiarity produced by these processes.
Experience, understood as a conscious event in its broadest sense, is a subject in which various objects are presented. In this sense, seeing a yellow bird perched on a branch presents the subject with the objects 'bird' and 'branch', and the relationship between them and the attribute 'yellow'.
It may also contain unrealistic objects that occur when experiencing hallucinations or dreams. A narrower understanding counts only sensory perceptions as experiences.
In this sense, experience is usually equated with perception and contrasted with other types of conscious events such as thought and imagination.
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Effects of fiscal policy Assume that the economy is currently producing at its potential output. Suppose the government decided to decrease government purchases, but everything else in the economy remained the same. On the following graph, shift the aggregate demand curve (AD), the short-run aggregate supply curve (SRAS), or both to show the intended short-run effect of this fiscal policy on the economy Note: Select and drag one or both of the curves to the desired position. Curves will snap into position, so if you try to move a curve and it snaps back to its original position, just drag it a little farther. SR AD SRAS AD REAL GDP ,they will beeffective as fiscal policy than anticipated Because temporary tax changes Grade It Now Save & Continue
In this scenario, the aggregate demand curve should be shifted to the left. This will cause a decrease in real GDP in the short run. The SRAS curve should remain in the same position.
This decrease in real GDP will be less than anticipated, as the SRAS curve will shift to the right due to increased business confidence and a potential reduction in prices. From AD 1 to AD 3, a shift to the left of the aggregate demand curve denotes a decline in the quantity of real GDP desired at the same price levels. A change in the price level does not affect changes in aggregate demand. Instead, they result from shifts in the demand for any of the real GDP's constituents. In this section, the discussion will briefly outline two major categories that could cause AD curves to shift: modifications to consumer or business behaviour and modifications to governmental tax or spending policies.
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FMR ULC, or Fidelity investments, is the holding company for Fidelity.com, a large online investment company. Run by CEO Abby Johnson, Fidelity provides its clients with investment advice, retirement planning, portfolio guidance, and other financial products and services. Fidelity clients include individuals, institutions, and financial intermediaries. As of September 30, 2014, the company was actively managing
$1,741
billion in mutual funds. Fidelity employees do everything they can to help Fidelity funds grow. In addition, they are committed to education, actively supporting local schools through volunteer work. Although Fidelity is a privately owned firm, held closely by the Johnson family, various Fidelity funds use boards of trustees to help supervise management activities. These boards are generally comprised of senior-level executives from Fidelity and other organizations Who have the wisdom to help Fidelity managers run their companies effectively, In 2015 , Fideliny had approximately 41,000 workars.
FMR ULC, or Fidelity Investments, is a large and well-known financial services company that provides investment and financial advice to a diverse range of clients, including individuals, institutions, and financial intermediaries.
The company actively manages over $1.7 trillion in mutual funds as of September 30, 2014. Fidelity is a privately owned company, held closely by the Johnson family, and is run by CEO Abby Johnson.
Fidelity is committed to helping its clients achieve their financial goals, and their employees work hard to help Fidelity funds grow. The company also has a strong commitment to education, actively supporting local schools through volunteer work.
To ensure effective management of its funds, various Fidelity funds use boards of trustees comprised of senior-level executives from Fidelity and other organizations. These boards provide guidance and supervision to Fidelity managers to ensure that the funds are being managed effectively.
As of 2015, Fidelity had approximately 41,000 employees. The company's size and influence in the financial services industry have made it a major player in the investment world, with many investors turning to Fidelity for their investment and retirement planning needs.
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Which of the following would be consequences of more rental properties in the United States being subject to binding price ceilings?
a. a shortage of apartments
b. the quantity demanded of apartments will exceed
c. the quantity supplied
Options A and C are correct. The following would be consequences of more rental properties in the United States being subject to binding price ceilings -
A. a shortage of apartments
B. the quantity demanded of apartments will exceed
Quantity demand is how much a specific decent or administration that is wanted by purchasers at a particular cost and time. Not entirely set in stone by looking at the shopper's readiness and capacity to buy the thing at a given cost. It is vital to consider financial matters and is utilized to decide the organic market of labour and products on the lookout. Amount request is impacted by different factors, for example, customer pay, shopper tastes and inclinations, the accessibility of substitutes, and the cost of the great or administration. Changes in any of these elements can cause an adjustment of the amount requested by buyers.
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Complete Question -
Which of the following would be the consequences of more rental properties in the United States being subject to binding price ceilings: Select the two correct answers below.
Select all that apply:
A. a shortage of apartments
B. the quantity demanded of apartments will exceed the quantity supplied
C. a surplus of apartments
D. the quantity supplied of apartments will exceed the quantity demanded
Modern capitalism emerged from the enlightenment in what way? it grew out of absolutism, and the enlightenment favored absolutism and rejected the guild system. Enlightenment satirists such as voltaire shredded the old mercantile system. Most enlightenment thinkers worked to disprove socialism. The value of government interference in the market was questioned in the scottish enlightenment.
Modern capitalism emerged from the enlightenment as the writings of Adam Smith set forth the theory of capitalism. Thus, option (e) is correct.
What is enlightenment?The term “Enlightenment” refers to the Age of Reason. The Enlightenment was established in the 17th and 18th centuries. The Enlightenment defines the movement of culture intellectually. The Enlightenment's main motives were liberty, happiness, and humanity.
Adam Smith is gave the theory of modern capitalism from the enlightenment. Adam Smith was the economist and philosopher. He was the research on the economy and the society concept.
As a result, the significance of the enlightenment are the aforementioned. Therefore, option (e) is correct.
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Your question is incomplete, but most probably the full question was.
Modern capitalism emerged from the enlightenment in what way?It grew out of absolutism, and the enlightenment favored absolutism and rejected the guild system. Enlightenment satirists such as voltaire shredded the old mercantile system.Most enlightenment thinkers worked to disprove socialism.The value of government interference in the market was questioned in the Scottish enlightenment.The writings of Adam Smith set forth the theory of capitalism.Read the following paragraphs about four films and then identify the purpose of each paragraph.
According to the paragraph, (1) The paragraph of the conclusion made to evaluate. (2) To Summarize. (3) To Synthesize. (4) To Analyze.
What is the main purpose of each paragraph?Your paragraphs help to clarify, establish, and support your thesis statement or argument while also directing the reader through the document.
An successful paragraph should always have the following four components: unity, coherence, a topic sentence, and adequate development. One main topic or point should be covered in each paragraph.
Therefore, After reading the following paragraphs about four films and then identifying the purpose of each paragraph the conclusion made is:
To Evaluate.To Summarize.To Synthesize.To Analyze.To know more about the paragraph, visit:
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The complete question is attached:
Jerry : 11,400 x ( 1 + 0.12/4)^(4 x 5) = 24,978.80
Elaine : 14,400 x (1 + 0.06/2)^(2 x 5) = 19,352.40
Explanation:
I am not understand the formula to get this process done. I know that Jerry is quarterly and Elaine is semiannually? please help me with this
It should be noted that the formula for compounded interest is based on the principal, P, nominal interest rate, i, and the number of compounding periods. The formula you would use to calculate the total interest if it is compounded is P[(1+i)^n-1].
How to explain the informationInterest compounded semiannually means that the principal of a loan or investment at the start of the compounding period, for instance, six months, includes the entire interest from each prior period.
The amount of interest due on simple interest loans and investments solely determines the initial principal sum. In this case, the first one is quarterly and the second one is semi annually.
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What affects the consumer decision making process
Explanation:
Audience demographics such as age, culture, profession, age and background
Maple Enterprises sells a single product with a selling price of $75 and variable
costs per unit of $30. The company’s monthly fixed expenses are $22,500.
The company's break-even point is 500 units and $37,500 . In order to earn a profit of $45,000 Maple needs to sell 1500 units. Maple needs to have a sales of $112,500 to have the target profit of $45,000.
What is break-even point?In economics, business, and specifically cost accounting, the break-even point is the point at which total cost and total revenue are equal, i.e. "even". There is no net loss or gain, and one has "broken even," despite the fact that opportunity costs were incurred and capital received the risk-adjusted, expected return.
The calculations are shown below:-
Given,
Selling price= $75,
Variable costs per unit = $30, and
Monthly fixed expenses = $22,500.
a) Break-even point = Fixed cost ÷ Contribution margin
Break-even point= 22,500/ (75 - 30) = 500 units
b) Break-even point ( in dollars) = Fixed cost ÷ Contribution Margin
Break-even point = 22,500/(45/75 ) = $37,500
c) Contribution margin income statement:
Sales (75 × 900) 67,500
Variable cost (900 × 30) (27,000)
Contribution margin 40,500
Fixed costs (22,500)
Net operating income 18,000
d) The break-even point in units and dollars when profit is $45,000.
Break-even point= Fixed cost + Target profit ÷ Contribution Margin
= 67,500/45
= 1,500 units
e) Break-even point ( in dollars)
= Fixed cost + Target Profit ÷ Contribution Margin ratio
= 67,500/(45/75)
= $112,500
f) Contribution margin income statement:
Sales 150,000
Variable cost (2,000× 30) (60,000)
Contribution margin 90,000
Fixed costs (22,500)
Net operating income 67,500
Therefore, all the required information for Maple Enterprise is calculated above.
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Your question is incomplete, but most probably the full question was,
Maple Enterprises sells a single product with a selling price of $75 and variable costs per unit of $30. The company's monthly fixed expenses are $22,500.
What is the company's break-even point in units?
What is the company's break-even point in dollars?
Construct a contribution margin income statement for the month of September when they will sell 900 units.
How many units will Maple need to sell in order to reach a target profit of $45,000?
What dollar sales will Maple need in order to reach a target profit of $45,000?
Construct a contribution margin income statement for Maple that reflects $150,000 in sales volume.
Would it be legal for the hotel to exclude some customers from the restrictions?
Explanation:
Accordingly, under common law, hotels must accept guests unless there is a reasonable or non-arbitrary reason for rejecting a guest.
How does chemical hazard affect the employee, employer and other stakeholders
The way that Chemical hazards affect these groups of persons have been listed below
How does chemical hazard affect the employee, employer and other stakeholdersChemical hazards can have a significant impact on a wide range of stakeholders, including employees, employers, and the general public.
Employees:Exposure to hazardous chemicals can result in a range of health effects, including skin and eye irritation, respiratory problems, and even more serious long-term health problems such as cancer, birth defects, and organ damage.In addition, workers may be at risk of accidental injury or death if there is a chemical spill or release.Employers:
Employers have a legal responsibility to provide a safe working environment for their employees and to ensure that hazardous chemicals are properly managed and stored.If an employee is injured or becomes ill due to exposure to hazardous chemicals, the employer may be liable for medical costs and compensation.Employers may also face financial penalties if they fail to comply with relevant health and safety regulations.Other Stakeholders:The local community and environment may also be affected by chemical hazards, especially in the event of a spill or release.This can result in property damage, pollution of soil and water, and harm to wildlife and other living organisms.In addition, emergency response and cleanup costs can be significant, and the reputation of the company responsible for the chemical hazard may be negatively impacted.It is important for employers to take chemical hazards seriously and to implement appropriate measures to minimize the risk to employees, the community, and the environment. This can include providing appropriate training and protective equipment, conducting regular risk assessments, and having contingency plans in place to respond to chemical incidents.
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Which of the following statements about a ledger is false?
A. The journal page number is written in the "Post Ref." column of the ledg
B. Each account is listed on a separate general ledger account form.
C. Both the debit and credit parts of the transaction are recorded on the sa
page in the ledger.
D. The account title and account number appear in the heading of a ledger
The false statement about a ledger is
A. The journal page number is written in the "Post Ref." column of the ledger.
What is ledger?A ledger is a book or computerized accounting system used to record and classify financial transactions of a business. Ledgers provide a summary of financial transactions in various accounts, such as assets, liabilities, revenues, expenses, and equity, and are used to prepare financial statements.
The Post Ref. column of a ledger is used to record the page number in the journal where the original transaction was recorded, which helps to trace back the transaction to the journal. However, the journal page number is typically recorded in the "Journal" or "Jour." column of the ledger rather than the "Post Ref." column.
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Emma is writing a customer survey for a new diet pill that her company has just released. As she is working on the
survey questions, she is including questions that ask about how colorful and creative the product's packaging is and
how enticing it is for the customer to pick that product. This type of survey question BEST describes what research
limitation?
The sort of survey question Emma is putting in the customer survey for the new diet pill, focused on how eye-catching and imaginative the product's packaging is and how alluring it is for the consumer to choose that product, displays a restriction connected to researcher bias.
What are the limitations?When a researcher's personal beliefs, opinions, or preferences are taken into account during the design, collection, analysis, or interpretation of a study, it is referred to as researcher bias. In this instance, Emma's inquiries appear to be focused on the product's packaging's visual appeal, which may be affected by her own tastes or presumptions about what buyers find appealing. This might restrict the applicability of the study findings since the survey may not adequately capture the variables that actually affect consumer behavior or product satisfaction.
Use of impartial, objective metrics and thorough consideration of potential sources of bias during the research design and data collecting process are crucial for preventing researcher bias and enhancing the caliber of research.
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A list of potential projects, several criteria weights for those criterio, and criterio scores for those projects are all typically included on ain) matrix Multiple Choice a. Project screening b. Multiple criteria c. project assessmentd. Project selection e. Project eimination
The list of potential projects, criteria weights, and criteria scores are typically included in a project assessment matrix.
A project assessment matrix is a tool used to evaluate and compare potential projects based on multiple criteria. It typically includes a list of potential projects, several criteria weights for those criteria, and criteria scores for those projects. The criteria weights are assigned to reflect the relative importance of each criterion, and the criteria scores are assigned to each project based on how well it meets each criterion. The matrix allows decision-makers to compare and rank the potential projects based on their scores and make informed decisions about which project to pursue. The process of creating a project assessment matrix is often part of project selection, which involves choosing the best project from a list of potential options based on predetermined criteria. The matrix can also be used as a tool for project screening and project elimination, helping to narrow down a list of potential projects to a more manageable size.
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Based on the description for our new investment advice platform, what capabilities or innovations are missing that you want included?
analyze tools and our metrics that a liter or manager should use to ensure that they are aligned and working together
One tool that a leader or manager can use to ensure alignment and collaboration among their team is setting clear and concise goals. Defining specific, measurable, attainable, relevant, and time-bound (SMART) goals helps to ensure that everyone on the team is working towards the same objective.
What is the importance of SMART goals?SMART objectives, according to those who support their use, provide a clear road map for both the person setting the goal and the person evaluating their progress (e.g. employee and employer, or athlete and coach).
The person who sets the goal is said to have a clear understanding of what needs to be delivered, and the person who evaluates can then assess the outcome based on defined criteria. SMART criteria are frequently associated with Peter Drucker's concept of management by objectives.
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Mary hopes to accumulate an amount of $75,000.00 by the end of Year 10.
Mary’s Grand-Mother – Sally - gave Mary $10,000.00 on Day I of Year I as a birthday present.
On Day I of Year II, Mary invested the $10,000.00 at a rate of 6% for each year from Year II to the end of Year 10.
Required:
(a)Will Mary be successful in achieving her goal of $75,000.00 by the end of Year 10? Why or why not….explain your answer. {3 marks]
(b)If Mary is not successful under (a), at what rate of interest would Mary need to invest the $10,000 on Day I of Year II in order to achieve her goal of $75,000 at the end of Year 10? [2 marks]
Mary would need to invest the $10,000.00 on Day I of Year II at an interest rate of 18.11% in order to achieve her goal of $75,000.00 at the end of Year 10.
(a) To determine if Mary will be successful in achieving her goal of $75,000.00 by the end of Year 10, we need to calculate the future value of the $10,000.00 investment at 6% interest rate. Using the formula for compound interest, we have:
FV = PV * (1 + r)^n
Where,
FV is the future value,
PV is the present value,
r is the interest rate, and
n is the number of periods.
Substituting the values, we get:
FV = $10,000.00 * (1 + 0.06)^9 = $16,273.99
Therefore, the total amount that Mary will have at the end of Year 10 is $10,000.00 + $16,273.99 = $26,273.99, which is less than her goal of $75,000.00. Therefore, Mary will not be successful in achieving her goal.
(b) To determine the interest rate at which Mary would need to invest the $10,000.00 on Day I of Year II in order to achieve her goal of $75,000.00 at the end of Year 10, we can use the same formula for compound interest and solve for the interest rate. We have:
FV = PV * (1 + r)^n
Substituting the values, we get:
$75,000.00 = $10,000.00 * (1 + r)^9 * (1 + r0)
Where r0 is the required interest rate. Solving for r0, we get:
r0 = (75,000/10,000)^(1/9) - 1 = 0.1811 or 18.11%
Therefore, Mary would need to invest the $10,000.00 on Day I of Year II at an interest rate of 18.11% in order to achieve her goal of $75,000.00 at the end of Year 10.
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A company's ledger accounts and their end-of-period balances before closing entries are posted are shown below. What amount will be posted to Wilson Peters, Capital in the process of closing the Income Summary account? (Assume all accounts have normal balances.)
A firm asks for your help in the analysis of some production decisions. The firm would like to know whether its decision to increase total production from 6,000 to 8,000 units was a wise move. It is revealed that at 6,000 units produced, the production costs for the firm totaled 58,000. At 8,000 units produced, production costs now total 85,000. You have performed additional research and discovered that each unit that the firm produced sold for an average of $10 per unit. If the firm wants to maximize profits, should it continue production at this level?
No, because marginal cost is now greater than marginal revenue.
yes, because marginal cost is now greater than marginal revenue.
No, because marginal cost is now less than marginal revenue.
yes, because marginal cost is now less than marginal revenue.
No, because marginal cost is now greater than marginal revenue.
By marginal revenue, what do you mean?
The additional money made from the sale of one more unit of output is referred to as marginal revenue.
The law of diminishing returns dictates that marginal revenue will eventually begin to decline as output level rises, even though it can remain constant above a certain threshold of output.
What makes it marginal?
When something is marginal, it usually means that it has a minor impact and exists outside of a larger system. It has a tendency to minimize the significance of anything considered to be trivial.
So for 1 unit increase in production, the cost has increased by $(27,000 ÷ 2000)
= $13.5.
But we have marginal revenue which equal price to be $10.
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What industry phase is the short stay peer-to-peer vacation industry in? How might this affect future planning at AirBnB?
AirBnB is the market leader in the short-term peer-to-peer holiday sector. This growing trend in the business will undoubtedly benefit the company. AirBnB is already seen as a disruptor in the hospitality business, and it will work hard to keep that reputation with the assistance of its innovations.
What is peer to peers?P2P computing or networking is a distributed application architecture that divides duties or workloads among peers. Peers are network participants who are equally privileged and capable. They are believed to create a node-to-node network.
Peers make a portion of their resources, like processing power, disk storage, or network bandwidth, directly available to other network members, eliminating the need for server or stable host cooperation. In contrast to the classic client-server model, where consumption and provision of resources are split, peers are both suppliers and consumers of resources.
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The total advertising budget for Beza Media is Birr 200,000. The following gives the costs per exposures per ad package (with all numbers in thousands). Medium I 10 Cost/package and Exposures/package 3,100,000 Medium II 4 Cost/package and Exposures/package 2,000,000 Medium III 5 Cost/package and Exposures/package 2,500,000 If the maximum number of Medium I, Medium II and Medium III packages that can be purchased is 18, 10, and 12, respectively.
How many of each ad package should be purchased to maximize the number of ad exposures?
To increase the number of ad exposures, 4 ad packages should be purchased if the maximum numbers of medium 1, medium 2, and medium 3 packages that can be purchased are 18, 10, and 12, respectively.
An estimate of a company's promotional costs for a specific time period is referred to as an advertising budget. The amount of money a business is prepared to set aside in order to achieve its marketing goals is more crucial. The sum of money set aside for marketing and advertising is known as an advertising budget. Money spent on advertising must be compared to the potential earnings those dollars could bring in. Profiles can be created using demographic analysis and customer segmentation to assist in maximising the returns on advertising investments.
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Correct question:
The total advertising budget for a firm is $200,000. The following table gives the costs per ad package for each medium and the number of exposures per ad package (with all numbers in thousands).
Medium 1
Medium 2
Medium 3
cost/package
10
4
5
exposures/
package
3100
2000
2400
If the maximum numbers of medium 1, medium 2, and medium 3 packages that can be purchased are 18, 10, and 12, respectively, how many of each ad package should be purchased to maximize the number of ad exposures?
The relative proportion of each type of cost in an organization is known as the company's ___ ___
A cost structure means the types and relative proportions of fixed and variable costs incurred by the company.The company's employees cooperate for a common goal in order to achieve clearly defined objectives.
A company, frequently abbreviated as "co.," is a legal designation for a collection of individuals with a shared objective who may be either natural, legal, or a combination of the two. Companies can take many different forms, including:voluntary groups with a profit motive, such as for-profit businesses, banks, programmes, and nonprofits, as well as educational institutionsA business may be constituted as a legal entity so that the company itself has limited liability as members fulfil or fail to fulfil their obligations in accordance with the publicly stated incorporation, or published policy. After a business has closed, it could be required to liquidate it in order to
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The following data from the just completed year are taken from the accounting records of Mason Company:
Sales $ 651,000
Direct labor cost $ 84,000
Raw material purchases $ 136,000
Selling expenses $ 103,000
Administrative expenses $ 46,000
Manufacturing overhead applied to work in process $ 205,000
Actual manufacturing overhead costs $ 222,000
Inventories Beginning Ending
Raw materials $ 8,700 $ 10,400
Work in process $ 5,200 $ 20,200
Finished goods $ 75,000 $ 25,100
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.
Required 1
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Mason Company
Schedule of Cost of Goods Manufactured
Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs 0
Cost of goods manufactured Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Mason Company
Schedule of Cost of Goods Sold
Prepare an income statement.
Mason Company
Income Statement
0
Selling and administrative expenses: 0
$0
Direct labour and productive labour are the terms used to describe the workers who actually handle and process the various materials, either directly or with the help of machines.
What is meant by direct labor?Direct labour costs are a part of the wage bill or payroll that can be specifically and consistently linked to or allocated to the production of a commodity, a particular work order, or the provision of a service. The salaries and wages given to workers who are directly involved in the production of a particular good or in rendering a service are referred to as direct labour.
Regular working hours, overtime hours, associated payroll taxes, social welfare, Medicare, unemployment, worker's benefits, retirement plan contributions, medical coverage, and other expenses are all considered to be direct labour costs.
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Compute the income elasticity of demand for each good and use the dropdown menus to complete the first column in the following table. Then, based on its income elasticity, indicate whether each good is a normal good or an inferior good. (Hint: Be careful to keep track of the direction of change. The sign of the income elasticity of demand can be positive or negative, and the sign confers important information.) Good Income Elasticity of Demand Normal or Inferior Good Flops Spades Diamonds > Which of the following goods is most likely to be classified as a luxury good ? Spades Flops O Diamonds
Demand elasticity quantifies the impact of variables like price and income on consumer demand for a given good. The elasticity of demand for an item is affected by a consumer's changing income, and this is measured by the income elasticity of demand.
Demand Elasticity (YED) is defined as: % change in quantity demanded / % change in income.
What is meant by Income Elasticity ?The term "income elasticity of demand" describes how responsive a given good's quantity demand is to changes in the real income of the customers who purchase it.
The percent change in quantity demanded divided by the percent change in income is the formula for determining the income elasticity of demand. With the aid of income elasticity of demand, you may determine if a certain commodity is a luxury or a need.
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Bataille
Question 10
If the market equilibrium is at price = $11/hour, and the government imposes a minimum wage of $14, we
will have a
The market equilibrium is at price $11/hour. The government imposes a minimum wage of $14. The new equilibrium will be Binding and we will have a surplus. The correct option is b.
What is market equilibrium?Market equilibrium is a market state where the supply in the market is equal to the demand in the market. The equilibrium price is the price of a good or service when the supply of it is equal to the demand for it in the market.
If a market is at equilibrium, the price will not change unless an external factor changes the supply or demand, which results in a disruption of the equilibrium.
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Your question is incomplete, but the full question probably is:
The market equilibrium is at price $11/hour. The government imposes a minimum wage of $14. The new equilibrium will be
A. Not binding and we will have neither a surplus nor a shortage.
B.Binding and we will have a surplus.
C.Not binding and we will have a shortage
D.Binding and we will have a shortage.
If the interest paid on an account is 14% compounded annually, $__________ now is basically equivalent to $12,000 six (6) years from now.
A.4652
B.6321
C.8521
D.5467
The correct option is option A
If the interest paid on an account is 14% compounded annually, $4652 now is basically equivalent to $12,000 six (6) years from now.
To calculate the present value of $12,000 in six years, we can use the formula:
Present Value = Future Value / (1 + r)n
Where,
Future Value is $12,000
r is the annual interest rate (14%)
n is the number of years (6 years)
Therefore,
Present Value = 12000 / (1 + 0.14)6
Present Value = $4,652
The present value (PV) of a future stream of payments is a financial concept that relates to its current value. In other terms, it is the amount of money that a certain amount of money is currently worth. The PV is calculated by multiplying the future payments by a fixed rate of return. Typically, the rate of return chosen is the investor's necessary rate of return.
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