addison company budgets production of 2,400 units during the second quarter. information on its direct labor and its variable and fixed overhead is as follows: direct labor each finished unit requires 4 direct labor hours, at a cost of $20 per hour. variable overhead budget at the rate of $11 per direct labor hour. fixed overhead budget at $450,000 pe quarter. 1. prepare a direct labor budget. 2. prepare a factory overhead budget.

True. A budget system that can be kept on notebook paper or accounting paper is called a written budget. A written budget is a basic budgeting tool that can help individuals or organizations plan and track their income and expenses. It is a simple and effective way to manage finances without the need for complex software or tools.

With a written budget, you can identify your sources of income, estimate your expenses, and allocate your money accordingly. It also helps you to stay within your means and avoid overspending. However, while a written budget can be a great start to financial management, it may not be suitable for more complex financial situations. In such cases, a more advanced budgeting system that involves accounting software or tools may be necessary. An accounting budget system involves the use of software to create and track a budget plan. This type of budgeting allows for more accurate tracking of expenses and income, as well as more sophisticated analysis of financial data. It is particularly useful for businesses, organizations, and individuals with complex financial situations.
In conclusion, a written budget is a simple and effective budgeting tool that can be kept on notebook paper or accounting paper. It is suitable for individuals or organizations with basic financial situations. However, more complex financial situations may require a more advanced budgeting system such as an accounting budget system.

To learn more about budget refer the link:

https://brainly.com/question/15865418

#SPJ11

True. gross material requirements do not take into account the amount of inventory on hand.

Gross material requirements are a planning tool used in manufacturing to calculate the total amount of raw materials needed to meet production targets. These requirements are based on the amount of finished goods that need to be produced, along with information about the bill of materials (BOM) for each product, which specifies the types and quantities of raw materials needed.

However, gross material requirements do not take into account the amount of inventory on hand. Instead, they are calculated based solely on the production schedule and the BOM for each product. This means that if there is already a large amount of inventory on hand, the gross material requirements calculation may result in a higher amount of raw materials needed than is actually necessary.

To address this issue, some manufacturing organizations use net material requirements planning, which subtracts the current inventory levels from the gross material requirements to calculate the actual amount of raw materials that need to be ordered or produced. This can help prevent over-ordering or over-production of raw materials, which can tie up capital and increase storage costs.

Learn more about inventory here

https://brainly.com/question/26977216

#SPJ11

A scalpers' market is likely to exist if the event organizers set the official ticket price at a relatively low amount such as $20.

If the official ticket price is set too low, scalpers can easily buy up a large number of tickets and then drive up the price on the secondary market, leading to a scalpers' market.  

When the official ticket price is set at $20, it creates a significant price disparity between the official market and the secondary market. This encourages scalpers to buy tickets at the official price and resell them at inflated prices to eager buyers who are willing to pay more to attend the event. The low official price creates a profit opportunity for scalpers, leading to a scalpers market.

In contrast, if the official ticket price is set at $40, $50, or $60, it is closer to the perceived value or demand for the event. This reduces the incentive for scalpers to purchase tickets at the official price and resell them at significantly higher prices. The price difference between the official market and the secondary market is smaller, making it less profitable for scalpers to operate.

Learn more about price disparity here: brainly.com/question/28905365

#SPJ11

The term that is used in a cash conversion cycle analysis is the inventory adjustment period. The cash conversion cycle is a financial metric that measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

It is calculated by subtracting the inventory adjustment period from the average collection period and adding the payables deferral period.The inventory adjustment period is the amount of time it takes for a company to adjust its inventory levels. This could be due to changes in demand, production, or supply chain disruptions. A longer inventory adjustment period can lead to higher carrying costs, lower inventory turnover, and reduced profitability.The inventory turnover ratio is also used in financial analysis, but it measures the number of times a company's inventory is sold and replaced over a period of time. It is calculated by dividing the cost of goods sold by the average inventory value. A higher inventory turnover ratio indicates that a company is selling its products quickly and efficiently, while a lower ratio could mean excess inventory or slow sales.The payables turnover ratio measures how quickly a company pays its suppliers for goods and services. It is calculated by dividing the cost of goods sold by the average accounts payable balance. A higher payables turnover ratio suggests that a company is managing its cash flow effectively and taking advantage of credit terms, while a lower ratio could indicate that a company is struggling to pay its bills on time.

To know more about cash visit:

brainly.com/question/31754110

#SPJ11

A reddening of the skin of the face that intensifies when exposed to the sun is characteristic of rosacea.

Rosacea is a chronic skin condition that primarily affects the face, causing redness, flushing, and sometimes bumps and pimples. It typically occurs in individuals over the age of 30 and is more common in women than in men. The cause of rosacea is unknown, but it is thought to be related to a combination of genetic and environmental factors, such as exposure to sunlight, extreme temperatures, and certain foods and drinks. The redness associated with rosacea is often triggered by sun exposure, stress, and other factors, and can be accompanied by a burning or stinging sensation. Treatment for rosacea typically involves avoiding triggers, such as sunlight and spicy foods, as well as using topical and/or oral medications to reduce inflammation and redness. While rosacea is a chronic condition, it can be managed with appropriate treatment and lifestyle modifications.

Learn more about intensifies here

https://brainly.com/question/4629584

#SPJ11

A multidomestic strategy is most common for C. food industries. This is because food preferences and tastes often vary significantly across different countries and cultures, making it essential for food companies to adapt their products and marketing strategies to cater to local tastes and preferences.

In the context of multinational corporations, a multidomestic strategy refers to a localization approach where a company adapts its products and marketing strategies to fit the local market conditions of each country it operates in.

Know more about the multidomestic strategy

https://brainly.com/question/25878979

#SPJ11

The best alternative is option B. To calculate the level of real money demand in this economy, we need to use the equation of the quantity theory of money, which is MV=PY. In this equation, M represents the money supply, V represents velocity, P represents the price level, and Y represents real output.

Rearranging this equation to solve for M, we get M = PY/V. Substituting the given values, we get M = 1.5 x 9000 / 3 = 4500. However, this is the nominal money demand. To calculate the real money demand, we need to divide it by the price level. So, the real money demand in this economy is 4500 / 1.5 = 3000.
In this economy, the level of real money demand is determined by the quantity theory of money, which suggests that the nominal money demand is directly proportional to the price level and real output, and inversely proportional to velocity. The real money demand represents the amount of purchasing power that people want to hold in the form of money, after adjusting for inflation.

to know about real money demand visit:

https://brainly.com/question/30736446

#SPJ11

The total sales revenue of a small business is determined by various factors, including the price of the product or service, credit terms offered to customers, sales volume, and expenses incurred. However, the two primary factors that have the most significant impact on the total sales revenue are sales volume and price.

Sales volume refers to the quantity of products or services sold by the business in a given period. It is directly proportional to the total sales revenue of the business, meaning that the higher the sales volume, the higher the revenue. Therefore, the business should focus on increasing its sales volume by attracting more customers, retaining existing ones, and expanding its market reach.Price, on the other hand, refers to the amount of money charged by the business for its products or services. It is a crucial factor that affects the total sales revenue since it directly impacts the profit margin of the business. The business should set a price that is competitive, reasonable, and profitable. If the price is too high, it may deter customers from buying, resulting in lower sales volume and revenue. On the other hand, if the price is too low, it may attract more customers, but the profit margin may be too small to sustain the business.
Credit terms, although an important factor, do not have a direct impact on the total sales revenue since they only affect the timing of the revenue received. If the business offers favorable credit terms, it may attract more customers, but it may also increase the risk of bad debt and delay in payments, affecting the cash flow of the business.

To know more about business visit:

brainly.com/question/15826604

#SPJ11

As of 2010, the per capita GDP in the United States was approximately 4.5 times the world average.

This means that the average income of individuals in the United States was significantly higher than the average income of individuals worldwide. The reason for this can be attributed to the United States being one of the largest economies in the world, with a highly developed and diverse economy.

Additionally, the United States has a relatively high standard of living and a strong focus on innovation and technology, which has contributed to its high GDP per capita.

However, it is important to note that this gap has likely changed since 2010 due to various global economic and political changes.

To know more on GDP visit:

https://brainly.com/question/30504843

#SPJ11

The basic postulate of economics refers to a fundamental principle that underlies economic theories and models. Among the options given, the one that is often referred to as the basic postulate of economics is B: Incentives matter - individuals respond in predictable ways to changes in personal costs and benefits.

This postulate suggests that people's decisions and behaviors are influenced by the incentives they face. Incentives can be either positive (rewards) or negative (penalties), and they can come in various forms such as monetary, social, or psychological. According to this postulate, when people face higher costs or lower benefits, they are less likely to engage in a particular activity, whereas when they face lower costs or higher benefits, they are more likely to do so. This idea has important implications for economic analysis because it allows economists to predict how people will behave under different circumstances and how they will respond to policy interventions. For instance, if the government imposes a tax on a certain product, the basic postulate of economics would predict that people will buy less of that product because the tax increases its cost. On the other hand, if the government offers a subsidy for a particular activity, people are more likely to engage in it because the subsidy lowers the costs.

To know more about economics visit:

brainly.com/question/31640573

#SPJ11

The after-tax salvage value of the machine is $5,386.89, if the lathe can be sold for $5,700 at the end of year 3.

The first step in finding the after-tax salvage value is to calculate the depreciation for each year using the MACRS 3-year class life method. The depreciation percentages for each year are 33.33%, 44.45%, and 14.81% respectively. Using these percentages, the depreciation for each year is:

Year 1: $57,000 x 33.33% = $19,011

Year 2: $57,000 x 44.45% = $25,343

Year 3: $57,000 x 14.81% = $8,437

The total depreciation over the three years is $52,791.

Next, we can calculate the after-tax salvage value. The machine will be sold for $5,700 at the end of year 3. The book value of the machine at that time will be $57,000 - $52,791 = $4,209. Thus, the sale of the machine will result in a taxable gain of $1,491 ($5,700 - $4,209). The tax on this gain will be 21% x $1,491 = $313.11.

The after-tax salvage value is therefore $5,700 - $313.11 = $5,386.89.

To know more about discount rate, here

https://brainly.com/question/13660799

#SPJ4

To an economist, freeway congestion is a sign that the price to drive on the freeway is too low.

Economists view freeway congestion as a market failure resulting from an imbalance between supply and demand. When the demand for freeway travel exceeds the supply of available lanes, traffic congestion occurs, resulting in slower travel times, wasted fuel, increased air pollution, and decreased productivity. Economists argue that the problem of freeway congestion could be addressed by charging drivers a higher price to use the freeway during peak travel times, through mechanisms such as tolls or congestion charges. By increasing the price of freeway use during peak hours, the demand for freeway travel could be reduced, resulting in less congestion and more efficient use of existing infrastructure. This approach, known as congestion pricing, is based on the economic principle that when a good or service is underpriced, demand will exceed supply, resulting in market inefficiencies such as congestion.

Learn more about Economists  here:

https://brainly.com/question/29410708

#SPJ11

The president of a private company sharing a new five-year strategic plan with her VPs is an example of internal communication.

Internal communication is the transmission of information within an organization through formal and informal channels. It includes all communication inside a company, such as employee communication, management communication, and crisis communication.

The goal of internal communication is to enhance the functioning of the organization as a whole through more effective communication with employees and other stakeholders.

This type of communication is used for sharing goals and plans, making announcements, and keeping all employees informed about what is going on in the company.

Learn more about communications channel at:

https://brainly.com/question/32151539

#SPJ11

The given statement is true because, the basis of inventory distributed to a partner cannot exceed the inventory's adjusted basis to the partnership.

In a nonliquidating distribution of inventory, the basis of the inventory that is distributed to a partner cannot exceed the inventory's adjusted basis to the partnership. The adjusted basis to the partnership is the original cost of the inventory plus any additional costs such as shipping, handling, or storage.

If the partner receives inventory with a basis that exceeds the adjusted basis to the partnership, the excess basis must be allocated to other distributed assets or recognized as a gain by the partner.

To know more about partnership, here

https://brainly.com/question/12983082

#SPJ4

The description provided in the question is most likely referring to closed-end funds.

Closed-end funds are investment companies that raise capital through an initial public offering (IPO) and then issue a fixed number of shares that trade on an exchange. Unlike mutual funds, closed-end funds do not continually issue new shares or redeem existing ones. As a result, the number of outstanding shares remains fixed, which can lead to the shares trading at a premium or discount to the fund's net asset value (NAV). When the market price of the fund's shares is lower than the NAV per share, it is said to be trading at a discount.

Investors can buy shares of a closed-end fund at a discount to the NAV, which can potentially provide higher returns. However, closed-end funds can also be riskier than other types of investments, as they are subject to market volatility and changes in interest rates. As with any investment, investors should carefully consider the risks and benefits before investing in a closed-end fund.

Learn more about funds here

https://brainly.com/question/30236770

#SPJ11

The accrual basis of accounting is a method of recognizing revenue and expenses that is widely used in the business world. It involves recognizing revenue when it is earned and expenses when they are incurred, regardless of when cash changes hands. In this way, it provides a more accurate picture of a company's financial position.

The purpose of the accrual basis of accounting is to provide a more accurate picture of a company's financial position. By recognizing revenue and expenses when they are earned or incurred, rather than when cash changes hands, the accrual basis of accounting ensures that a company's financial statements reflect the true economic activity of the business. For example, if a company provides services to a customer in one month but does not receive payment until the following month, the accrual basis of accounting would recognize the revenue in the month in which the services were provided, even though the cash was not received until the following month. This provides a more accurate picture of the company's financial performance for that month. Similarly, if a company incurs expenses in one month but does not pay for them until the following month, the accrual basis of accounting would recognize the expenses in the month in which they were incurred, rather than the month in which the cash was paid. This ensures that the company's financial statements reflect the true costs of running the business.

In conclusion, the purpose of the accrual basis of accounting is to provide a more accurate picture of a company's financial position by recognizing revenue and expenses when they are earned or incurred, rather than when cash changes hands. This method ensures that a company's financial statements reflect the true economic activity of the business and provides a more reliable basis for decision-making.

To learn more about accrual basis of accounting, visit:

https://brainly.com/question/30764846

#SPJ11

Anything that a firm does especially well compared to rival firms is referred to as a core competency.

Core competencies are unique strengths or abilities that a firm possesses which sets it apart from its competitors.

Know more about the Core competencies

https://brainly.com/question/30689973

#SPJ11

The market price of the bond is $2,150.99. lincoln park company has a bond outstanding with a coupon rate of 5.98 percent and semiannual payments.

To calculate the market price of a bond, you need to use the present value formula. This involves discounting the future cash flows (coupon payments and principal repayment) back to their present values using the yield to maturity (YTM) as the discount rate. In this case, the bond has a coupon rate of 5.98%, semiannual payments, a maturity of 18 years, and a par value of $2,000. The YTM is 5.5%.

First, calculate the total number of coupon payments over the life of the bond: 18 years x 2 semiannual payments per year = 36 coupon payments.

Next, calculate the semiannual coupon payment: $2,000 x 5.98% / 2 = $59.80.

Using the formula for the present value of an annuity, calculate the present value of the coupon payments: PV = C x ((1 - (1 / (1 + r)^n)) / r), where PV is the present value, C is the semiannual coupon payment, r is the YTM divided by 2 (since it's a semiannual payment), and n is the total number of coupon payments. Plugging in the values, we get: PV = $59.80 x ((1 - (1 / (1 + 0.055 / 2)^36)) / (0.055 / 2)) = $1,451.95.

Using the formula for the present value of a single payment, calculate the present value of the principal repayment: PV = F / (1 + r)^n, where PV is the present value, F is the par value, r is the YTM divided by 2, and n is the total number of periods. Plugging in the values, we get: PV = $2,000 / (1 + 0.055 / 2)^36 = $699.04.

Finally, add the present values of the coupon payments and principal repayment to get the market price of the bond: $1,451.95 + $699.04 = $2,150.99. Therefore, the correct answer is b. $2,150.99.

Learn more about market price here

https://brainly.com/question/29894533

#SPJ11

A chief operating officer (COO) is typically considered a part of a firm's top management team.

They are responsible for overseeing the day-to-day operations of the company and ensuring that the organization runs smoothly and efficiently. The COO works closely with other senior executives, such as the CEO and CFO, to develop and implement strategies that align with the company's goals and objectives.

In larger firms, the COO may also be responsible for managing specific business units or departments. They may work closely with department heads to identify areas for improvement and implement changes to improve efficiency and productivity.

Overall, the COO plays a critical role in the success of a firm by ensuring that the organization is operating at peak performance. They are responsible for driving growth, improving profitability, and delivering value to customers and stakeholders.

To know more about officer  visit

https://brainly.com/question/6691571

#SPJ11

FALSE. Emerging markets such as India and South Africa do consider sustainability critical to business.

In recent years, there has been a growing awareness and emphasis on sustainability in emerging markets. This is due to various factors such as increasing consumer demand for sustainable products, global efforts to address climate change, and the recognition that sustainable practices can lead to long-term profitability.

Many companies in emerging markets are adopting sustainable practices in areas such as energy efficiency, waste reduction, and responsible sourcing of raw materials. Additionally, there are government policies and regulations in place to encourage and enforce sustainable practices. For example, India has introduced policies such as the National Action Plan on Climate Change and the Swachh Bharat Abhiyan (Clean India Mission) to promote sustainability.

Overall, it is clear that emerging markets are taking sustainability seriously and recognizing its importance to business success and long-term growth.

Learn more about sustainable practices: https://brainly.com/question/141936

#SPJ11

A shortage that occurs under a binding price ceiling increases over time because the ceiling prevents the market price from rising to its equilibrium level, leading to an imbalance between supply and demand.

A binding price ceiling is a government-imposed price control that sets the maximum allowable price for a good or service below the equilibrium market price.

This artificial cap on prices discourages suppliers from producing more of the good or service, as they are unable to charge a higher price to cover their costs.

On the other hand, the lower price encourages consumers to demand more of the good or service.

As a result, the quantity demanded exceeds the quantity supplied, creating a shortage.

Over time, this shortage will increase as the imbalance between supply and demand persists.

Summary: In conclusion, a binding price ceiling leads to an increasing shortage over time because it keeps the market price below the equilibrium level, causing a persistent imbalance between supply and demand.

Learn more about costs click here:

https://brainly.com/question/25811981

#SPJ11

A property and casualty insurer's loss reserve includes estimates for all of the following EXCEPT claims incurred but not yet reported to the company.

The loss reserve is an estimate of the amount of money that an insurer sets aside to cover the cost of claims that have been reported and adjusted but not yet paid, and claims that have been reported and filed but not yet adjusted. It also includes an estimate of claims that have been anticipated but not yet incurred.

Claims incurred but not yet reported to the company are not included in the loss reserve because they are not yet known to the insurer. These claims may not be reported for several months or even years after the loss has occurred, so it is difficult for insurers to estimate the cost of these claims accurately. Insurers use various statistical and actuarial techniques to estimate the value of claims that have been incurred but not yet reported.

Learn more about property here

https://brainly.com/question/28689752

#SPJ11

Senior citizen housing project is housing intended for and solely occupied by persons 62 years of age or older (option a). This means that only individuals who are 62 years old or above are allowed to live in these housing projects.

Senior citizen housing projects are specifically designed to cater to the needs of older adults.

These facilities may include various amenities such as meal services, housekeeping, and transportation.

Additionally, these housing projects may offer social and recreational activities that are tailored to the interests of senior citizens.

In summary, senior citizen housing projects are housing intended for and solely occupied by persons 62 years of age or older. These facilities are designed to meet the unique needs of older adults and may offer various amenities and activities.

Learn more about interest click here:

https://brainly.com/question/25793394

#SPJ11

Yes, Quail, Inc. is subject to federal income tax. Quail is a separate taxable entity, and its income is subject to a 21% income tax rate.

Quail, Inc., although a wholly owned subsidiary of Roadrunner, an exempt medical organization, is still subject to federal income tax. This is because Quail operates as a separate taxable entity, engaging in unrelated business activities (sporting goods retailing) that are not directly tied to Roadrunner's exempt purpose. As a result, Quail's taxable income of $550,000 is subject to a 21% income tax rate. After paying taxes, Quail can remit its earnings to Roadrunner to support the exempt purpose of the parent organization. In this scenario, the income tax paid by Quail does not affect Roadrunner's exempt status, but it does reduce the net earnings that are contributed to Roadrunner's cause.

Calculation Steps:
1. Calculate Quail's income tax liability: $550,000 (taxable income) x 0.21 (tax rate) = $115,500 (income tax owed).
2. Calculate the net earnings remitted to Roadrunner: $550,000 (taxable income) - $115,500 (income tax owed) = $434,500 (net earnings remitted to Roadrunner).

To know more about the Quail visit:

https://brainly.com/question/15281811

#SPJ11

The correct answer is a) true. Capital expenditures refer to investments made by a company in productive facilities, such as buildings, machinery, and equipment, that are expected to generate long-term benefits and increase the company's productive capacity.

These expenditures are typically significant and involve a substantial outlay of cash or financing. In contrast, operating expenditures are expenses incurred in the day-to-day operations of a business, such as salaries, rent, and utilities, that are necessary to keep the business running but do not involve significant capital investment. It is important for companies to carefully evaluate and plan their capital expenditures to ensure that they are making wise investments in their future growth and profitability.

Know more about Capital expenditures here:

https://brainly.com/question/32154085

#SPJ11

The United States' growing trade deficit reflects a number of factors which exclude- C. the enormous cost of military operations in the Middle East .

This is because the trade deficit mainly involves increased imports from China (A), a seemingly insatiable consumer demand for imported goods (B), the services trade surplus (D), and record goods sales to developing countries (E).

Military operations, although a significant expense, do not directly impact the trade deficit as they are not related to the import and export of goods and services between countries.

Hence, the answer is C.

To know more about Trade deficit visit:

https://brainly.com/question/28388041

#SPJ11

Based on the given information, Avigail's team task role can be identified as an "energizer". Option C.

An energizer is someone who motivates and inspires the team to achieve their goals by boosting morale, keeping the team focused and engaged, and increasing their enthusiasm and commitment to the task at hand. This role involves providing emotional support, creating a positive and productive environment, and encouraging team members to work towards achieving their full potential. Therefore, among the given options, "energizer" best describes the team task role that Avigail is filling.

Learn more about energizer

https://brainly.com/question/14938532

#SPJ4

The demand for business products is characterized as derived demand because it is a result of the demand for consumer goods or services that use those business products as inputs.

The demand for business products is characterized as derived demand because it is a result of the demand for consumer goods or services that use those business products as inputs. In other words, businesses demand goods and services from other businesses in order to produce their own goods or services.

For example, a company that produces cars will require a variety of inputs, such as steel, rubber, glass, and electronics. The demand for these inputs is derived from the demand for cars. If the demand for cars increases, the demand for these inputs will also increase. Conversely, if the demand for cars decreases, the demand for these inputs will also decrease.

Therefore, the demand for business products is closely tied to the overall economic conditions and the demand for consumer goods and services. Changes in consumer demand can have a ripple effect on the demand for business products and can impact the entire supply chain.

Visit to know more about Demand:-

brainly.com/question/1245771

#SPJ11

In a project team, the individual who typically leads the early phases of systems development is the systems analyst. The systems analyst is responsible for identifying the requirements of the proposed system and translating those requirements into a functional design.

The analyst works closely with the project team members and stakeholders to gather and document the requirements and constraints of the system. The systems analyst also develops a preliminary design of the system, including data flows, data structures, and system processes. The analyst then presents this design to the project team and stakeholders for review and feedback.

The systems analyst is critical to the success of systems development projects because they ensure that the system meets the needs of all stakeholders and is designed to function effectively and efficiently. The analyst is also responsible for communicating with team members, stakeholders, and end-users to ensure that the system is developed on schedule and within budget. The analyst works with project managers and other team members to create project plans, schedules, and budgets, and they provide guidance and leadership throughout the systems development process.

Learn more about project team here:

brainly.com/question/31795668

#SPJ11

CPFR, or Collaborative Planning, Forecasting, and Replenishment, is an inventory management system that is used to streamline the supply chain and improve operational efficiency.

It is based on the principle of collaboration between trading partners in the supply chain to share information and coordinate activities such as planning, forecasting, and replenishment. The term CPFR refers to four key metrics that are used to measure the success of the system: cost, profit, frequency, and return. Cost refers to the reduction in operational costs that can be achieved through the implementation of CPFR, while profit refers to the increased profitability that can be achieved through better planning and coordination. Frequency refers to the speed at which orders can be fulfilled, and return refers to the ability of the system to generate a positive return on investment. In summary, CPFR is a powerful tool for optimizing inventory management and achieving better outcomes in terms of cost, profit, frequency, and return.

To know more about CPFR visit :-

https://brainly.com/question/31266000

#SPJ11