Microeconomics: is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms.
Macroeconomics : the branch of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
$1,000 of supplies were purchased at the beginning of the month. $300 were used during the month. (The Supplies account was increased at the time of the initial purchase.) Demonstrate the required adjusting journal entry by selecting from the choices below. (Check all that apply.) Multiple select question. Supplies would be credited for $300. Supplies would be debited for $300. Supplies expense would be debited for $300. Supplies expense would be debited for $700. Supplies expense would be credited for $300.
Answer:
Supplies expense would be debited for $300 and Supplies would be credited for $300
Explanation:
The adjusting entry for supplies is shown below:
Supplies expense Dr $300
To Supplies $300
(Being the supplies is adjusted)
Here we debited the supplies expense as it increased the expense and credited the supplies as it also increased the asset so that the proper journal entry could be recorded and proper posting could be done
The Alpine House, Inc., is a large retailer of snow skis. The company assembled the information shown below for the quarter ended March 31: Amount Sales $ 924,000 Selling price per pair of skis $ 420 Variable selling expense per pair of skis $ 46 Variable administrative expense per pair of skis $ 18 Total fixed selling expense $ 135,000 Total fixed administrative expense $ 115,000 Beginning merchandise inventory $ 75,000 Ending merchandise inventory $ 105,000 Merchandise purchases $ 310,000 Required: 1. Prepare a traditional income statement for the quarter ended March 31. 2. Prepare a contribution format income statement for the quarter ended March 31. 3. What was the contribution margin per unit?
Answer:
Results are below.
Explanation:
First, we need to determine the units sold:
Units sold= 924,000/420= 2,200
Absorption costing income statement:
Sales= 924,000
COGS= (46*2,200)= (101,200)
Gross profit= 822,800
Total administrative expense= (18*2,200) + 115,00= (154,600)
Total fixed selling expense= (135,000)
Net operating profit= 533,200
Variable costing income statement:
Sales= 924,000
Variable cost= (46 + 18)*2,200= (140,800)
contribution margin= 783,200
Total administrative expense= (115,000)
Total fixed selling expense= (135,000)
Net operating profit= 533,200
Contribution margin per unit= 420 - (46+18)= $356
What are some ways to build relationships within the core team?
Answer:
some of these ways are included in the answers below
Explanation:
To build relationship within the core team:
1. You have to recognize and acknowledge the individual motives and effort of team members
2. You have to make room for open communication in the team
3. You have to develop a way of sharing values in the team
4. Everyone should be carried along when it comes to meaningful project learning
5. At periods of success, you have to celebrate such.
6. Communicate well and properly especially when it come to periods of conflicts.
Commitment either you do or you don’t there’s no in between
What does this quote mean to you? (3-5 sentences )
What is motivation?
Answer:
The answer is A.
Explanation:
Motivation is the urge to perform a certain act.
Motivation can be caused by perervance, beliefs, ect.
Motivation is the energy and desire to act in a certain way. The mental components powering individuals' conduct with regards to work objectives could incorporate a longing for cash Option(A) is correct.
What does Motivation means?Motivation is the justification behind which people and different creatures start, proceed, or end a way of behaving at a given time.
Motivational states are normally perceived as powers acting inside the specialist that make a demeanor to participate in objective coordinated conduct It is much of the time held that different mental states rival one another and that hands down the most grounded state decides conduct. This implies that we can be spurred to accomplish something without really getting it done.
The paradigmatic mental state giving motivation is want. Be that as it may, different states, for example, convictions about what one should do or expectations, may likewise give motivation. Motivation is gotten from the word 'intention,' which signifies an individual's necessities, wants, needs, or inclinations.
Therefore Option(A) is correct.
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Gil is a Baxley Co. salesman desperate to make quota by the end of year 3. On the afternoon of December 31, year 3, he convinces a longtime customer with excellent credit to sign a contract to accept delivery of Baxley Co.’s Widgetron Deluxe. Gil promises the customer a deep discount off the list price that they can ‘hash out later’ if the customer is 100% happy with the product. Gil does not tell the customer that the company’s policy in such cases is to offer the maximum discount of 30%. The customer states he will have to consult an astrologer and a groundhog to determine if he is happy with the product. Gil oversees the delivery that evening of the Widgetron Deluxe. Should the revenue from this sale be recognized in year 3? Why or why not?
Answer:
No, the revenue should not be recognized in year 3.
Explanation:
In this case, the client has a right to return the Widgetron Deluxe (the product sold). Apparently the client isn't even convinced that he wants to buy it and consulting an astrologer and a groundhog on whether he should keep it or not is not something normal. Gil didn't even tell the customer the price of the Widgetron Deluxe which makes things even more messy.
Revenue from this specific sale should only be recognized after the right to return expires or both the groundhog and the astrologer are happy with it.
The cost of a purchased building includes all of the following except:________. a. closing costs. b. real estate broker's commission. c. remodelling costs. d. All of these are included.
Answer:
B because the broker pays their part of comission if I'm correct
The initial solution to a transportation problem can be generated several ways, so long as:_______.
A) it minimizes cost
B) it ignores cost
C) all supply and demand conditions are satisfied
D) degeneracy does not exist
E) all cells are filled
Answer:
c
Explanation:
because why wouldnt u pay
The initial solution to a transportation problem can be generated several ways, so long as: all supply and demand conditions are satisfied. Thus option (C) is correct.
What is transportation?Transportation is the movement of goods from one location to another. The main motive of transportation is to supply goods from the producers to the consumers for consumption.
For example, one location might be the place where we have source raw materials (like Kuwait for oil) or where we have source goods from a manufacturing facility ( like in California).
We will transport these goods through these goods through different modes like waterways or railways to the end consumers like in Mexico or India. We call such a location a node in the supply chain. There is then a series of such nodes or locations to finally get to the end customer.
The initial solution to a transportation problem can be generated several ways, so long as: all supply and demand conditions are satisfied. Therefore, option (C) is correct.
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Vertis Corporation is interested in cutting the amount of time between when a customer places an order and when the order is completed. Details for the first quarter of the year are provided here. Choose the correct answer from the options provided. Days Wait time 14 Inspection time 0.6 Process time 5 Move time 0.4 Queue time 6 What is the throughput time
Answer:
12
Explanation:
Computation for throughput time
Using this formula
Throughput time = Process time + Inspection time + Move time + Queue time
Let plug in the formula
Throughput time=5+0.6+0.4+6
Throughput time=12
Therefore the Throughput time will be 12
You are part of a knowledge management team that is interested in improving the user experience for your organization. The team members know you have taken a course in informatics and ask your advice about how to get started with usability in the organization. You recommend:___a. talking to the CEO about her ideas.b. examining the support call lists and system change requests.c. working with only physicians, since they have been the most vocal about issues withthe EHR.d. hiring a consultant.
Answer:
b. examining the support call lists and system change requests.
Explanation:
Remember, we are told the team member is part of a knowledge management team that has taken a course in Informatics.
We need to also note that Informatics involves activities meant to collect, organize, analyze, and preserve data records relevant to an organization.
Thus, the only activity among the options which could help the team member learn about the usability in the organization would be to examine the support call lists and system change requests.
Exporting only after receiving unsolicited foreign inquiries is best described as:________.a. Direct exporting.b. Indirect exporting.c. Passive or sporadic exporting.d. Inactive exporting.e. None of the above.
Answer:
c. Passive or sporadic exporting
Explanation:
Passive or sporadic exporting is a business operations related term that is used in describing a form of exporting activities or carrying out an exchange of commodities stimulated by unrequested examinations from abroad.
Hence, in this case, the correct answer is Exporting only after receiving unsolicited foreign inquiries is best described as "Passive or sporadic exporting"
New entrants to an industry are more likely when:a. differentiation among existing competitors is highb. access to distribution channels is limitedc. switching costs for consumers are lowd. capital requirements to enter the industry are highe. expected retaliation from existing competitors is high
Answer:
c. switching costs for consumers are low
Explanation:
New entrants to an industry are when new firms enter into an industry.
When it is easy for consumers to change product, it would be easy for consumers to switch to a new product. This would create a market for the new entrant.
Jones company lends Alabater Inc. $85,000 on August 6, 2018. This loan was memorialized with a signed note receivable with a repayment term of 90- days with a 10% interest rate. When the loan comes due, Alabaster Inc, must repay the $85,000 principle and $_____in interest. Calculate the amount of interest that Alabaster Inc. must pay Jones Company.
A) $8,500.
B) $2,095.
C) $2,125.
Answer:C) $2,125.
Explanation:
Interest = Principal x rate x time (period)
using days in a year = 360 days
Interest = $85,000 X 10% x 90/360
=$2,125
Therefore, Alabaster Inc, must repay the $85,000 principle and $2,125 in interest
Job qualifications refers to the education, work experience, and skills appearing on a job opening.
1)true
2)false
Answer:
The term job qualifications refers to the education, work experience, and skills appearing on a job opening. Recruiters and hiring managers use the list of required and desired job qualifications when selecting applicants for an interview, so its true.
Your current assignment at York Foods is to find the major benefits people look for in the packaged goods market, the kinds of people who look for each benefit, and the major brands that deliver each benefit. Your assignment involves an analysis of the __________ element of the marketing mix. Question 4 options: people price product promotion
Answer:
People
Explanation:
People is the component of the marketing mix that deals with what the customer wants and how to effectively tailor products to meet those needs
It gives rise to segmentation of customers based on their preferences. Customers within a given segment are effectively catered for by because the company has an understanding of how to satisfy them.
In this scenario we want to find the major benefits people look for in the packaged goods market, the kinds of people who look for each benefit, and the major brands that deliver each benefit.
Social media:_____.
a. cannot be compared to traditional advertising in any meaningful way.
b. is thought of by most people as any tool or service that assist conversation.
c. has less sophisticated ways of measuring how marketers meet and interact with consumers than traditional advertising.
d. offer more one-to-one ways to meet consumers than traditional marketing media.
Answer:
d. offer more one-to-one ways to meet consumers than traditional marketing media.
Explanation:
Social media gives the opportunity to meet and communicate with consumers more easy. One can contact a consumer by sending a direct message. This opportunity is not available with traditional media such as newspapers, radios and television adverts.
Social media also makes it easy to find potential customers. A marketer can send a message advertising ones products
Explain how the Pizza Hut website uses the seven website design elements.
Answer:
Context
Website Content
Integrated Marketing
Website communication
Website customization
Pop ups
Live Chat options
Explanation:
Pizza hut is one of the leading restaurant chains of the world. It has designed its website in such a way that it is easy for the customers to access it. The website design has unique and different layout which makes it easy for its customers to place orders and find information regarding its products. The website opens with pizza picture display which makes a person hungry at the moment and he is unable to control his crave for pizza. This is good marketing tool with which every visitor is inspired. Live chat options are available if a customer wants to ask any question regarding the products and their queries are instantly resolved.
Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is $1 per can, the price of a hamburger is $2, Bill's marginal utility from Pepsi is 4, and his marginal utility from hamburgers is 6. Bill could increase his utility by:
Answer:
INCREASE the consumption of Pepsi and REDUCE the consumption of Hamburger
Explanation:
Based on the information given we were told that Bill uses his whole budget to purchase the following :
5 cans of Pepsi
3 Hamburgers per week
And the following were the price:
Pepsi costs $1 per can
Hamburger cost $2
Bill marginal utility:
Pepsi 4
Hamburgers 6
Based on the above details this means that Bill could increase his utility by INCREASING Pepsi consumption and REDUCING hamburger consumption reason been that 5 cans of Pepsi costs $1 per can which will gives us income of $5 ($5×1) while 3 Hamburgers per week cost $2 which will give us income of $6 ($3×2) which typically means that the Hamburgers has more income that Pepsi.
Secondly since the marginal utility for Pepsi is 4 while that of Hamburgers is 6 which means that Hamburgers has higher MARGINAL UTILITY than that of Pepsi because the consumption of Hamburgers is higher than the consumption of Pepsi.
Therefore the best thing that Bill could do in order to increase his Pepsi utility is for Bill to increase Pepsi consumption and reduce hamburger consumption.
The account balances of Paradise Travel Service for the year ended May 31, 20Y6, follow: Fees earned $944,970 Office expense 217,345 Miscellaneous expense 18,900 Wages expense 453,585 Accounts payable 23,625 Accounts receivable 66,150 Cash 253,375 Common stock 135,000 Land 302,000 Supplies 11,340 Cash dividends of $35,900 were paid during the year. Retained earnings as of June 1, 20Y5, were $255,000. Prepare the balance sheet as of May 31, 20Y6. When entering assets, enter them in order of liquidity.
Answer:
Retained earnings as of May 31, 20Y6 = $474,240
Net Assets = Total Owners' Equity = $609,240
Explanation:
To do this, the income statement is first prepared to determine the Retained earnings as of May 31, 20Y6 as follows:
Paradise Travel Service
Income Statement
for the year ended May 31, 20Y6
Particulars $
Fees earned 944,970
Office expense (217,345)
Miscellaneous expense (18,900)
Wages expense (453,585)
Net income 255,140
Cash dividends paid (35,900)
Retained earning for the year 219,240
Retained earnings as of June 1, 20Y5 255,000
Retained earnings as of May 31, 20Y6 474,240
The Balance Sheet is now prepared as follows:
Paradise Travel Service
Balance Sheet
for the year ended May 31, 20Y6
Particulars $
Fixed Assets
Land 302,000
Current Assets
Cash 253,375
Accounts receivable 66,150
Supplies 11,340
Total Assets 632,865
Liability
Accounts payable (23,625)
Net Assets 609,240
Owners' Equity:
Common stock 135,000
Retained earnings as of May 31, 20Y6 474,240
Total owners' equity 609,240
Note that Net Assets and Total Owners' Equity are both equal to $609,240. This is as required in accounting and it shows the Balance Sheet is accurately prepared.
g Which of the following IS NOT an issue with alternative investment decision tools? Said another way, which of the following is a false statement? Group of answer choices IRR takes into account relative scale/size of cash flows IRR struggles to handle cash flows shifting from negative to positive to negative to positive Payback rule is simple and favors shorter term projects IRR does not take adequately into account relative timing of cash flows
Answer:
IRR does not take adequately into account relative timing of cash flows
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested .
When cash flows shift from negative to positive to negative to positive, it can lead to the multiple IRR problem
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash flows
Payback does not take adequately into account relative timing of cash flows
Chip Wilson, Lululemon's founder, envisioned creating high-quality sportswear, found low-cost producers, realized sales that exceeded those of competitors, established a corporate culture, and formulated a marketing strategy. Of these activities, which would be first and last in the strategic planning process?
Answer:
d. envisioning high-quality sportswear and realizing high sales
Explanation:
At the first step of strategic planning process he identifies the opportunity which lies in high quality sportswear. At the last step execution is done for making the opportunity being realized by achieving the high sales.
Options to the question are: " a. finding producers and establishing a corporate culture ; b. establishing a corporate culture and formulating a marketing strategy ; c. formulating a marketing strategy and envisioning high-quality sportswear ; d. envisioning high-quality sportswear and realizing high sales
Use the following information to answer the next 6 questions. Suppose you have $1000 side money. You have two options: spend this money today, or save it for the future. You are offered the following investment opportunity that if you lend the $1000 out today, you will receive $1200 dollars one year later. You think this is a good deal, accept it, and lend your money out. To keep a track of the price level, you check the Bureau of Labor Statistics webpage, and find that the CPI for today is 100. Your nominal interest rate from this investment is
Answer:
20%
Explanation:
The nominal interest rate is the interest rate that you receive for a deposit or an investment without considering any type of adjustment due to inflation.
nominal interest rate = [(future value / present value) - 1] x 100 = [($1,200 / $1,000) - 1] x 100 = 0.2 x 100 = 20%
If you want to calculate the real interest rate, you must adjust your nominal interest rate by the period's inflation rate.
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,057. A total of 37 direct labor-hours and 194 machine-hours were worked on the job. The direct labor wage rate is $24 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $33 per machine-hour. The total cost for the job on its job cost sheet would be: Multiple Choice $6,722 $9,347 $6,303 $11,492
Answer:
B. $9,347
Explanation:
Total direct labor = 37 direct labor hours * $24
Total direct labor = $888
Total overhead = $33 * 194 machine hours
Total overhead = $6,402
Total cost for the job = Direct materials + Direct labor + Overheads
Total cost for the job = 2057+888+6402
Total cost for the job = $9,347
Which of these Nonforfeiture Options continue a build-up of cash value?a. Waiver of Premiumb. Extended Termc. Reduced Paid-Upd. Cash Surrender
Answer:
Reduced Paid-Up
Explanation:
Nonforfeiture provision in insurance allows for a partial or full refund of premiums paid in case of non payment by the client over a period of time.
Refunds are made before the policy expires.
Reduced Paid-Up option allows the original death benefit to remain without future payments of premiums.
So when there is non payment of premiums over time the original amount going to the beneficiary remains and increases in value
The following amounts were reported by Howe Company before adjusting its immaterial overapplied manufacturing overhead of $16,000. Raw Materials Inventory $80,000 Finished Goods Inventory $120,000 Work in Process Inventory $200,000 Cost of Goods Sold $1,460,000. What is the amount Howe will report as cost of goods sold after it disposes of its overapplied overhead
Answer:
$1,444,000
Explanation:
Given the data as seen below,
Over applied manufacturing overhead = $16,000
Raw materials inventory= $80,000
Finished goods inventory = $120,000
Work in process inventory = $200,000
Cost of goods sold = $1,460,000
Therefore, the amount Howe will report as cost of goods sold after it disposes off its overhead applied will be;
= Cost of goods sold - over applied manufacturing overhead
= $1,460,000 - $16,000
= $1,444,000
Reynold's Grocery has fixed costs of $350,000, the unit selling price is $29, and the unit variable costs are $20. What is the break-even sales (units) if the variable costs are decreased by $4?
Answer:
26,923
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / price – variable cost per unit
variable cost per unit = $20 - $4 = $16
$350,000 / ($29 - $16) = 26,923
Tammy, a resident of Virginia, is considering whether to purchase a North Carolina bond, face amount $100,000, that yields 4.6% before tax. She is in the 35% Federal marginal tax bracket and the 5% state marginal tax bracket. Tammy is aware that State of Virginia bonds of comparable risk are yielding 4.5%. Virginia bonds are exempt from Virginia tax, but the North Carolina bond interest is taxable in Virginia. Which of the two options will provide the greater after-tax return to Tammy? Tammy can deduct all state taxes paid on her Federal income tax return
Answer:
It should purchase the Virginia Bonds.
Explanation:
As the bonds are from another State they will be subject to taxation from both, the state and the Federal Government:
We comparethe after-tax yields:
North Carolina
0.046 x (1 - 0.40) = 0.0276 = 2.76% after-tax
Virginia
0.045 x (1 - 0.35) = 0,02925 = 2.925% after-tax
As the bond within the state provides a better yields Tammy should purchase there.
Typically, low inflation is a sign of a healthy economy because it results from a steady rise in demand. a healthy economy because it results from a steady rise in supply. a struggling economy because it results from a steady fall in demand. a struggling economy because it results from a steady fall in supply.
Inflation is a general progressive increase in the price of goods and services in an economy. Hence each unit of currency buys fewer units of goods and services.
A healthy economy is one that has a steady rise in demand and supply. Inflation is the steady rise in prices over a time period and if you have taken a loan, and income is fixed it can lead to problems.Hence the option A is correct.
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Answer:
option A
Explanation:
A "trade secret" Group of answer choices is legally equivalent to a patent or copyright. need not be treated confidentially by the company in order to be protected. can be almost any information not generally known if it is valuable to its possessor and treated confidentially. is a narrow, precise concept that the law defines in great detail.
Answer:
can be almost any information not generally known if it is valuable to its possessor and treated confidentially
Explanation:
Trade secret is any information that is not known by the public and it gives the firm an edge over its competitors and gives the firm that has the secret economic benefits.
There is an active effort to keep trade secret confidential
What is considered as a trade secret differs by region.
An example of a trade secret is a secret recipe used in making a pie. No one knows this recipe apart from the owner. This recipe gives the pie made a distinct taste that attract customers
Which of the following are trade-offs faced by a family deciding whether to buy a new car? Check all that apply. The same vehicle model is available at various car dealerships. A newer model offers better protection and functions but is more expensive than an older model. The vehicle is available in several colors.
Answer:
A newer model offers better protection and functions but is more expensive than an older model.
Explanation:
A trade-off is the opportunity cost of a decision. It is the next best option forgone when one alternative is chosen over other alternatives.
If the family buys the new car, it would not be able to buy the newer, better and more expensive model which is the next best option
