Laurie saved for six months to have enough money to buy a new designer outfit to wear to a special party. She had to travel to a larger city to purchase this outfit, but it was worth it to her because it made her feel beautiful and confident. The difference between the benefits Laurie perceived from this purchase and the cost to her to acquire these benefits describes her _____.

Answers

Answer 1

Answer: B) customer value

Explanation:

Customer Value refers to the perception of what the good in question is worth to the customer buying it as opposed to other alternatives. Essentially, how much is it worth to the buyer vs the opportunity costs of buying it. The customer values a good when they feel like they gained more benefits than they paid for or that it was an equal trade-off and so do not mind the cost.

Laurie gained confidence and felt beautiful as a result of the attire and so decided that the cost was worth it.

Answer 2

Worth refers to whether the consumer feels he or she received more benefits and services than he or she paid for.

What is the customer Value?

Customer value is the financial compensation that a customer receives in exchange for the amount paid for a market item.

In general, a client evaluates the net benefits of one item to those of its prospective alternatives. It aids in determining whether the client believes they received adequate value for the cost of the offering.

Thus, Option B is correct about Laurie.

For more information about Customer Value refer to the link:

https://brainly.com/question/15236362


Related Questions

If the price of chocolate-covered peanuts decreases from $1.15 to $0.90, the quantity demanded does not change, and other things are unchanged, the absolute value of the price elasticity of demand, using the midpoint method, is:

Answers

Answer:

price-elasticity = 0

Explanation:

The formula for mid-point elasticity will be as follows:

[tex]\frac{q_1-q_2}{\frac{q_1+q_2}{2}} \div\frac{p_1-p_2}{\frac{p_1+p_2}{2}}[/tex]

Now, as quantity did not change we get:

q1 = q2

thus q1 + q2 = 2q1

and q1 - q2 = 0

[tex]\frac{0}{\frac{2q_1}{2}} \div\frac{1.15-0.90}{\frac{1.15+0.90}{2}}[/tex]

As we are getting a zero the end result will be zero which makes complete sense as there was no change in quantity the demand is completely inelastic.

Valley Technology Balance Sheet As of March 11, 2020 (amounts in thousands) Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100 Use T-accounts to record the transactions below, which occur on March 12, 2020, close the T-accounts, and construct a balance sheet to answer the question. 1. Buy $15,000 worth of manufacturing supplies on credit 2. Issue $85,000 in stock 3. Borrow $63,000 from a bank 4. Pay $5,000 owed to a supplier 5. Receive payment of $12,000 owed by a customer What is the final amount in Total Liabilities?

Answers

Answer:

total liabilities = accounts payable $11,500 + unearned revenue $7,500 + debt $65,900 + other liabilities $800 = $85,700

Explanation:

Cash 9,700 Accounts Payable 1,500 Accounts Receivable 4,500 Debt 2,900 Inventory 3,800 Other Liabilities 800 Property Plant & Equipment 16,400 Total Liabilities 5,200 Other Assets 1,700 Paid-In Capital 7,300 Retained Earnings 23,600 Total Equity 30,900 Total Assets 36,100 Total Liabilities & Equity 36,100

1. Buy $15,000 worth of manufacturing supplies on credit

Supplies                                           Accounts payable

debit                credit                       debit                credit

15,000                                                                       1,500

                                                                                  15,000

                                                                                  16,500

2. Issue $85,000 in stock

Cash                                                 Paid-In Capital

debit                credit                       debit                credit

9,700                                                                        7,300

85,000                                                                    85,000

94,700                                                                     92,300

3. Borrow $63,000 from a bank

Cash                                                 Debt

debit                credit                       debit                credit

94,700                                                                      2,900

63,000                                                                    63,000

157,700                                                                    65,900

4. Pay $5,000 owed to a supplier

Cash                                                 Accounts payable

debit                credit                       debit                credit

157,700                                                                     16,500

                        5,000                      5,000                          

152,700                                                                     11,500

5. Receive payment of $12,000 owed by a customer

Cash                                                 Accounts receivable

debit                credit                       debit                credit

152,700                                            4,500                        

12,000                                                                     12,000

164,700                                                                     7,500

Due to some strange reason, accounts receivable has a debit balance (= $4,500 - $12,000). Since that is not possible, the remaining part $7,500 must be included under unearned revenue:

Accounts receivable                       Unearned revenue

debit                credit                       debit                credit

                        7,500                                               0                        

7,500                                                                       7,500

0                        0                                                      7,500

 

A small business produces a single product and reports the following​ data: Sales price $ 8.50 per unit Variable cost $ 5.30 per unit Fixed cost $ 21 comma 000 per month Volume 10 comma 000 units per month The company believes that the volume will go up to 13 comma 000 units if the company reduces its sales price to $ 7.25. How would this change affect operating​ income?

Answers

Answer:

If the current price is reduced from $8.50 to $7.25 per unit, operating income will decrease by $6,650 (from $11,000 to $4,350). This happens because variable costs will increase dramatically while total revenue will only increase a little.

Explanation:

current revenue = $8.50 x 10,000 = $85,000

- variable costs = $5.30 x 10,000 = ($53,000)

- fixed costs = ($21,000)

operating income = $11,000

alternative price = $7.25 x 13,000 = $94,250

- variable costs = $5.30 x 13,000 = ($68,900)

- fixed costs = ($21,000)

operating income = $4,350

Ataxia Fitness Center is considering an investment in some additional weight training equipment. The equipment has an estimated useful life of 4 years with no salvage value at the end of the 4 years. Ataxia's internal rate of return on this equipment is 5%. Ataxia's discount rate is also 5%. The payback period on this equipment is closest to (Ignore income taxes.):
Click here to view Exhibit 13B-1 and Exhibit 13B-2, to determine the appropriate discount factorfs) using the tables provided.
a. 4 years
b. 3.55 years
c. 2.00 years
d. 4.65 years

Answers

Answer:

b. 3.55 years

Explanation:

The payback period is basically the amount of time an investor needs to recover his/her initial investment.

lets assume initial investment = $1,000

when you calculate IRR, the present value of the cash flows = initial investment

the present value of an annuity for 4 years and 5% is 3.5460

$1,000 = yearly cash flow x 3.546

yearly cash flow = $1,000 / 3.546 = $282

payback period = $1,000 / 282 = 3.546 years ≈ 3.55 years

Waterway Enterprises reported cost of goods sold for 2020 of $1,385,600 and retained earnings of $5,415,900 at December 31, 2020. Waterway later discovered that its ending inventories at December 31, 2019 and 2020, were overstated by $103,320 and $38,040, respectively. Determine the corrected amounts for 2020 cost of goods sold and December 31, 2020, retained earnings.

Answers

Answer:

b. Corrected 2020 cost of goods sold = $ 1,320,320.

b. Corrected retained earnings = $5,377,860.

Explanation:

a. Determine the corrected amounts for 2020 cost of goods sold

An overstatement of the beginning inventory has to be deducted from the reported cost of good sold since the amount of the overstatement was added to the cost of goods sold initially.

On the other hand, an overstatement of the ending inventory has to be added to the reported cost of good sold since the amount of the overstatement was deducted to the cost of goods sold initially.

Therefor, we have:

Corrected 2020 cost of goods sold = $1,385,600 - $103,320 + $38,040 = $ 1,320,320.

b. Determine the corrected amounts for December 31, 2020, retained earnings

In this case, the amount of overstatement of the ending inventory has to be deducted from the reported retained earning since the retained earning was initially overstated by that amount.

Therefore, we have:

Corrected retained earnings = $5,415,900 - $38,040 = $5,377,860

James is the landlord of an apartment containing 22 houses which are to be maintained by him and Lily is one of the tenants. In which of the following cases would the tenant be liable for an injury occurring on the leased premises?A) James was negligent in repairing the broken step on which Lily tripped and broke her ankle.B) Lily's nephew cut his finger with the knife that was negligently kept in Lily's kitchen.C) A little child at the apartment almost choked himself by consuming the paint that was chipping off the common wall between Lily's apartment and her neighbor's.D) The entire apartment caught fire and the fire extinguisher could not be used since it was installed only in Lily's rented house and she was out shopping.E) Lily's visitor got into the common lift in the apartment that suddenly crashed leading to severe injuries to Lily's visi

Answers

Answer: B) Lily's nephew cut his finger with the knife that was negligently kept in Lily's kitchen.

Explanation:

James as the landlord will be responsible for the structural or other defects of the house so long as it is the house that is the problem.

Activities that go on inside a tenants house that are caused by the actions of the tenants will not be a liability on the path of the landlord.

If an elevator is damaged or there weren't enough fire extinguishers or there was a broken step or poor quality paint was used, these are all defects related to the house itself and as such will result in negligence on the part of the landlord.

A child getting injured by a knife that Lily as a tenant left, in her apartment will.be the fault of Lily and the negligence can only be on her because it was due to actions by her as a tenant in her leased property.

The following information is available for Flounder Corp. for the year ended December 31, 2017: Other revenues and gains Other expenses and losses Cost of goods sold Other comprehensive income $10,000 Sales revenue 14,900 Operating expenses 246,400 Sales returns and allowances 5,500 $641,300 231,800 40,000
Prepare a multiple-step income statement for Flounder Corp and comprehensive income statement. The company has a tax rate of 30%. This rate also applies to the other comprehensive income. Flounder Corp. Income Statement For the Year Ended December 31, 2017 Revenues Sales Revenue 641300 Less . Sales Returns and Allowances 40000 Net Sales $ 601300 Cost of Goods Sold 246400 Gross Profit 354900 Operating Expenses 231800 Income From Operations 123100 Other Revenues and Gains $ 10000 Other Expenses and Losses 14900

Answers

Answer:

Flounder Corp. Income Statement For the Year Ended December 31, 2017

Revenues:

Sales Revenue                               $ 641,300

Less Sales Returns and Allowances 40,000

Net Sales                                       $ 601,300

Cost of Goods Sold                         246,400

Gross Profit                                     354,900

Operating Expenses                        231,800

Income From Operations              $123,100

Income Tax on operations                36,930

Net Income after Income Tax        $86,170

Comprehensive Income Statement:

Revenues:

Sales Revenue                               $ 641,300

Less Sales Returns and Allowances 40,000

Net Sales                                       $ 601,300

Cost of Goods Sold                         246,400

Gross Profit                                     354,900

Operating Expenses                        231,800

Income From Operations             $123,100

Other Revenues and Gains           $ 10,000

Less other Expenses and Losses    14,900

Income from Operations &

other comprehensive income    $118,200

Income Tax                                    $35,460

Net Income after Tax                   $82,740

   

Explanation:

a) A multi-step income statement arranges the revenue and expenses sequentially in order to bring out some financial performance measurement elements, like the gross profit, income from operations, etc.

b) A Comprehensive income statement is a financial statement that includes both standard income and expenses and other comprehensive income and expenses.

Suppose the demand for Digital Video Recorders (DVRs) is given by Q = 250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does the quantity demanded for DVRs change if the p rises by $40?

Answers

The question is incomplete. Here is the complete question

Suppose the demand for Digital Video Recorders (DVRs) is given by Q = 250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does the quantity demanded for DVRs change if the p rises by $40? A) drops by 10,000 DVRs B) increases by 16,000 DVRs C) drops by 2,500 DVRs D) increases by 4,000

Answer:

Drops by 10,000 DVRs

Explanation:

The demand for digital video recorders is expressed by

Q= 250- .25p+4pc

Where

Q represents the quantity demanded by the customers

P represents the price of DVR

pc represents the price of cable television

Since the factor of p in the expression above is negative, this implies that the quantity of DVR demanded in the market will reduce

If the price of DVR increase by $40, then the quantity demanded will reduce by

= 0.25×40×1000

= 10×1000

= 10,000 units

Hence the quantity of DVRs drops by 10,000 DVRs if the price is increased to $40

2. Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye’s asset is $1200. In one year they will be worth either $800 or $1400. The going rate on T-bill is 4 percent. What is the value of debt, equity, and interest rate on debt?

Answers

Answer:

Buckeye Industries has a bond issue with a face value of $1000. The value of Buckeye’s asset is $1200. In one year they will be worth either $800 or $1400. The going rate on T-bill is 4 percent. What is the value of debt, equity, and interest rate on debt?

Explanation:

In 2016, Hudson Corp. sold 3,000 units at $150.00 each. Variable expenses were $113.00 per unit, and fixed expenses were $58,240. The same variable expenses per unit and fixed expenses are expected for 2017. If the company cuts selling price by 6.00%, what is its break-even point in units for 2017?

Answers

Answer:

Break even in units (2017) = 2080 units

Explanation:

The break even point in units is the number of units where the total revenue equals total cost. It is a point of no profit and no loss. The break even point in units is calculated as follows,

Break even in units = Fixed cost / Contribution margin per unit

Contribution margin per unit = Selling price per unit - Variable cost per unit

A cut in selling price of 6% would mean that the new selling price will be,

New selling price = 150 - (150 * 0.06)  = $141

Contribution margin per unit = 141 - 113  = $28

Break even in units = 58240 / 28

Break even in units (2017) = 2080 units

Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 157,000 Fixed manufacturing overhead cost $ 650,000 Variable manufacturing overhead cost per machine-hour $ 4.40 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials $ 320 Direct labor cost $ 230 Machine-hours used 37 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 50 units, what is the unit product cost for this job

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

Estimated machine-hours= 157,000

Estimated fixed manufacturing overhead= $650,000

Variable manufacturing overhead cost per machine-hour $4.40

First, we need to calculate the predetermined overehad rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (650,000/157,000) + 4.4

Predetermined manufacturing overhead rate= $8.54 per machine-hour

Job 400:

Direct materials $320

Direct labor cost $230

Machine-hours used 37

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated overhead= 8.54*37= $315.98

Finally, we need to determine the unitary cost for Job 400:

Total cost= 320 + 230 + 315.98= $865.98

Unitary cost= 865.98/50= $17.32

Mario and Johnny want to start a business. They have very little capital. They are new partners and largely unfamiliar with each other’s management practices. They are happy, however, to be organizing a business together in order to avoid full liability for the business. Which detail of this situation is a good reason for Mario and Johnny to create a general partnership?
A) Unfamilar with each other's managment practices
B) Avoiding full liability
C) Little Capital
D) Sharing profits

Answers

Answer:

All Options ..... if not possible then D) Sharing profits

Explanation:

A General Parnership refers to a business arrangement in which the individuals agree to share all the as assets, profits, and financial and legal liabilities of a jointly-owned business. Therefore in this scenario all of the options listed are valid reasons to want to create a general partnership between Mario and Johnny, but if only one option can be chosen then the best reason would be Sharing profits. That is because the entire reason for starting a business is to make money, and thus protecting your entitled profits is the most important.

Based on guidelines established by the accounting manager, Jaime, the accounts payable clerk, makes payments to vendors in order to maximize discounts. What type of decision does this represent?

Answers

Answer:

Programmed.

Explanation:

This is a form of decision that is has been made or is been made by as manager just like Jaime the account managing clerk which is repetitive or occurs steadily and over and over. The fact that it happens this steadily makes it a programmed decision.

This decision making are always taken in accordance with some establishment habit, regulations or procedures while the nature of problem that requires a non programmed decision is unstructured and something different. It needs a higher management participation.

In programmed decision making, there could likely be no error in the decisions because it is a routine and managers usually have the information they need to create rules and guidelines to be followed by others.

The Delta Manufacturing Company has a marginal tax rate of 21 %. The last dividend paid by Delta was $2.60. The expected long-run growth rate is 4%. If investors require 11% rate of return, what is the current price of the stock (P0)?

Answers

Answer:

The stock price is 38.63

Explanation:

We use the gordon model to calculate the horizon value and with htat the value of the stock:

[tex]\frac{D_1}{r-g} = PV\\\frac{D_0(1+g)}{r-g} = PV\\[/tex]

D1 = 2.60 x 1.04 = 2.704

rate of return 11% = 0.11

grow rate = 4% = 0.04

[tex]\frac{2.704}{0.11-0.04} = PV\\[/tex]

P0 = 38.62857143

The taxes should be ignored as the gordon model do not include them in the calculations

Sweet, Inc. issued a $140,000, 4-year, 12% note at face value to Flint Hills Bank on January 1, 2017, and received $140,000 cash. The note requires annual interest payments each December 31.

Required:
Prepare Coldwell's journal entry record:

a. the issuance of the note
b. the December 31 interest payment.

Answers

Answer:

The double entry is given below alongwith its explanation

Explanation:

On January 1, 2017, the receipt of money by the issuance of the 12% note would be recorded as increase in liability which would be credited and increase in cash receipt is increase in asset which must be debited. The entry to record the issuance of note is as under:

Dr Cash   $140,000

Cr Loan Note $140,000

On December 31, 2017, the Payment of interest of 12% on note would be recorded as increase in expense which must be debited and decrease in cash due to payment is decrease in asset and it must be credited. The entry to record the payment of interest is as under:

Dr Interest Expense $16,800

Cr Cash Account             $16,800

Find the present value of $10,000 received at the start of every year for 20 years if the interest rate is J1 = 12% p.a. and if the first payment of $10,000 is received at the end of 10 years

Answers

Answer:

$ 26,935.56

Explanation:

The key to this question is that present value of those cash flows in year ten is the future value today.

PV=PMT*(1/i-1/i*(1+i)^n)*(1+i)

PMT is the annual amount receivable which is $10,000

i is 12% or 0.12

n is 20 years

1/i*(1+i)^=1/0.12*(1+0.12)^20=1/(0.12*9.646293093 )=0.863889709

1/i=1/0.12=8.333333333

1+i=1+0.12=1.12

PV=10,000*(8.333333333 -0.863889709 )*1.12

PV=10,000*7.469443624*1.12=$83,657.77  

The PV In ten years' time is future value today, hence we need to discount that future value to today's terms

PV=FV*(1+r)^-n

n is ten

r is 12%

PV=$83,657.77*(1+12%)^-10=$ 26,935.56  

Listed below are several transactions. For each transaction, indicate whether the ca financing, or noncash activity. Also, indicate whether the transaction is a cash inflow
Also, indicate whether the transaction is a cash inflow or cash outflow, or has no effect on cash. 1. Payment of employee salaries. 2. Sale of land for cash. Investing 3. Purchase of rent in advance. 4. Collection of an account receivable. 5. Issuance of common stock. 6. Purchase of inventory 7. Collection of notes receivable. 8. Payment of income taxes. 9. Sale of equipment for a note receivable. 10. Issuance of bonds. 11. Loan to another firm. 12. Payment of a long-term note payable. 13. Purchase of treasury stock. 14. Payment of an account payable. 15. Sale of equipment for cash.

Answers

Answer:

1. Operating and Cash outflow: Payment of employee salaries.

2. Investing and Cash inflow: Sale of land for cash. Investing

3. Operating and Cash outflow: Purchase of rent in advance.

4. Operating and Cash inflow: Collection of an account receivable.

5. Financing and Cash inflow: Issuance of common stock.

6. Operating and Cash outflow: Purchase of inventory

7. Investing and Cash inflow: Collection of notes receivable.

8. Operating and Cash outflow: Payment of income taxes.

9. Noncash activity, so no effect: Sale of equipment for a note receivable.

10. Financing and Cash inflow: Issuance of bonds.

11. Investing and Cash outflow: Loan to another firm.

12. Financing and Cash outflow: Payment of a long-term note payable.

13. Financing and Cash outflow: Purchase of treasury stock.

14. Operating and Cash outflow: Payment of an account payable.

15. Investing and Cash inflow: Sale of equipment for cash.

Explanation:

A statement of cash flow is a financial statement that gives the aggregate cash inflow and cash outflow in an organization during an accounting period. The three categories of statement of cash flows are investing activities, financing activities, and operating activities.

1. Investing activities are essentially the cash activities with respect to non-current assets such as sale of equipment for cash.

2. Financing activities refers to cash activities with respect to owners’ equity and non-current liabilities such as purchase of treasury stock.

3. Operating activities are mainly the cash activities with respect to net income such as payment of employee salaries.

Logan Company can sell all of the standard and premier products they can produce, but it has limited production capacity. It can produce 8 standard units per hour or 4 premier units per hour, and it has 36,600 production hours available. Contribution margin per unit is $20.00 for the standard product and $23.00 for the premier product. What is the total contribution margin if Logan chooses the most profitable sales mix

Answers

Answer:

The most profitable sales mix is 288,000 standard units and 0 premier units.

Explanation:

8 standard units per hour

4 premier units per hour

36,600 production hours available

For standard units, contribution margin per hour = 8 x $20 =  $160

For premier units, contribution margin per hour = 4 x $23 = $92

Therefore,  most profitable sales mix = 36,000 hours x 8 units per hour of standard product

= 288,000 standard units and 0 premier units.

You own shares in Yahoo that were purchased at a price of $ 24 per share. Microsoft has offered to purchase Yahoo and buy your shares at a price of $ 34 per share. What will be your return if you tender your shares to Microsoft and the deal is​ completed

Answers

Answer:

Return  = 41.67%

Explanation

The return on a share is the sum of e capital gains and the dividend received all expressed as a percentage of the of the amount invested.

In the absence of the payment of dividend, the return

Return = capital gain/ Price of share × 100

Capital gain= Price of shares now - cost of shares

Capital gain = 34- 24 = 10

Return = 10/24 × 100 = 41.66666667

Return (%) = 41.67%

g A stock will issue a dividend of $20 one year from today. Dividends will shrink by 3% per year for the next two years after that, and then remain constant forever. Find the current price of one share of this stock, given an effective annual rate of 6%.

Answers

Answer:

Current price = $341.943

Explanation:

The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.

PV dividend in year 1 = 20 × 1.03^(-1)= 19.41747573

PV of dividend in year 2 = 97%× 20 × 1,03^(-2)= 18.28636064

PV of dividend in year 3 = 97%× 97%×  20× 1.03^(-3) = 17.22113575

PV of dividend from year 4  and beyond

This will be done in two steps

PV (in year 3 terms

(97%× 97%×  20× 1.03^(-3))/0.06 =313.6333333

PV in year o terms

PV = A/r

A= 313.63, r = 6%

313.63× 1.03^(-3)= 287.0189291

Price of stock = 19.41 +18.28 +  17.221 +  17.221= 341.943

Current price = $341.943

You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: guppy gummies raskels, and cannies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-Mills provides your marketing firm with the following data: When the price of guppy gummies increases by 5%, the quantity of raskels sold decreases by 4% and the quantity of cannes sold increases by 5%. Your job is to use the cross-price elasticity between guppy gummies and the other goods to determine which goods your marketing firm should advertise together Complete the first column of the following table by computing the cross-price elasticity between guppy gummies and raskels, and then between guppy gummies and cannies. In the second column, determine if guppy gummies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with guppy gummies. Relative to Guppy Gummies Cross-Price Elasticity of Demand Complement or Substitute Recommend Marketing with Guppy Gummies Raskels Cannies

Answers

Answer:

See explanation below

Explanation:

Here, when the price of guppy gummies increases by 5%, the quantity of raskels sold decreases by 4% and the quantity of cannes sold increases by 5%.

i.e, % change in price of guppy grummies = 5%

% change in quantity of raskels = -4%

% change in quantity of cannes = 5%

i) Find the Cross price elasticity of demand between guppy grummies and raskels. Use the expression below.

% change in quantity demanded of raskels / % change in price of guppy gummies

= -4% / 5%

= -0.8

Substitute goods have a negative cross price elasticity of demand. Since, the cross price elasticity of demamd here is negative, the goods are substitute.

It is recommended not to advertise raskels with guppy grummies

ii) Find the Cross price elasticity of demand between guppy grummies and cannes. Use the expression below.

% change in quantity demanded of cannes / % change in price of guppy gummies

= 5% / 5%

= 1

Complement goods have a positive cross price elasticity of demand. Since, the cross price elasticity of demamd here is positive, the goods complement each other.

It is recommended to advertise cannes with guppy grummies.

Burrito King (a new fast-food franchise opening up nationwide) has successfully automated burrito production for its drive-up fast-food establishments. The Burro-Master 9000 requires a constant 30 seconds to produce a batch of burritos. It has been estimated that customers will arrive at the drive-up window according to a Poisson distribution at an average of one every 45 seconds. To help determine the amount of space needed for the line at the drive-up window

A. What is the average line length (in cars)?

B. What is the average number of cars in the system (both in line and at the window)?

C. What is the expected average time in the system?

Answers

Answer:

(A)0.6600 (B) 1.325 (C) 0.997 or 1 minute

Explanation:

Solution

Given that:

The constant rate = 30 seconds

The arrival rate according to Poisson distribution is = 45 seconds

Now,

(A) We solve for the average length line of cars

The formula is given below:

Lq = λ²/ 2μ ( μ -λ)

Here,

λ = this is the mean time of arrival rate

μ = This is the mean service rate

Thus we compute for the mean time arrival rate which is given below:

The mean arrival rate λ = arrival rate/ 60 seconds

= 60/45

= 1.33 customer per minute

Then we solve for the means service rate which is given below

The mean service rate μ = 60 seconds/ mean rate

= 60/30 = 2 customer per minute

We will now solve for the average line length in cars which is shown below:

Lq = λ²/ 2μ ( μ -λ)

Lq = 1.33²/2*2 (2-1.33)

Lq = 1.7689/4 (0.67)

Lq = 1.7689/2.68

Lq = 0.6600

Therefore the average length in line for cars is 0.6600 cars

(B) We solve for the average number of cars in the system

Ls =Lq + λ /μ

Ls =0.600 + 1.33/2

Ls =0.6600 + 0.665

Ls = 1.325

(C) Finally we need to find the expected average time in the system which is shown below:

Ws = Ls/λ

Ws= 1.325/1.33 = 0.997 or 1.00

The expected time average  in the system is 0.997 or 1.00 minutes.

(A) The average length in line for cars is 0.6600 cars

(B) Ls = 1.325  

(C)The predicted time standard in the system is 0.997 or 1.00 minutes.

What is Average Time?

The constant rate = 30 seconds

The arrival rate according to Poisson disbandment is = 45 seconds

(A) We solve for the average stature line of cars

The formula is given below:

Lq = λ²/ 2μ ( μ -λ)

Here,

λ = this is the meantime of arrival rate

μ = This is the mean service rate

Thus we compute for the meantime arrival rate which is given below:

The mean formation rate λ = arrival rate/ 60 seconds

= 60/45

= 1.33 customer per minute

Then we solve for the concessions service rate which is given below

The mean service rate μ = 60 seconds/ mean rate

= 60/30 = 2 consumer per minute

We will now solve for the average line length in cars which is shown below:

Lq = λ²/ 2μ ( μ -λ)

Lq = 1.33²/2*2 (2-1.33)

Lq = 1.7689/4 (0.67)

Lq = 1.7689/2.68

Lq = 0.6600

Hence the average length in line for cars is 0.6600 cars

(B) We solve for the average number of cars in the system

Ls =Lq + λ /μ

Ls =0.600 + 1.33/2

Ls =0.6600 + 0.665

Ls = 1.325

(C) Finally we need to find the anticipated average time in the system which is shown below:

Ws = Ls/λ

Ws= 1.325/1.33 = 0.997 or 1.00

The predicted time standard in the system is 0.997 or 1.00 minutes.

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Laworld Inc. manufactures small camping tents. Last year, 200,000 tents were made and sold for $60 each. Each tent includes the following costs: Direct materials $18 Direct labor 12 Manufacturing overhead 16 The only selling expenses were a commission of $2 per unit sold and advertising totaling $100,000. Administrative expenses, all fixed, equaled $300,000. There were no beginning or ending finished goods inventories. There were no beginning or ending work-in-process inventories. Required: 1. Calculate (a) the product cost for one tent and (b) the total product cost for last year. 2. CONCEPTUAL CONNECTION: (a) Prepare an income statement for external users. (b) Did you need to prepare a supporting statement of cost of goods manufactured? Explain. 3. CONCEPTUAL CONNECTION: Suppose 200,000 tents were produced (and 200,000 sold) but that the company had a beginning finished goods inventory of 10,000 tents produced in the prior year at $40 per unit. The company follows a first-in, first-out policy for its inventory (meaning that the units produced first are sold first for purposes of cost flow). (a) What effect does this have on the income statement? (b) Prepare a cost of goods sold statement.

Answers

Answer:

1. Calculate (a) the product cost for one tent

$46

and (b) the total product cost for last year.

$9,200,000

2. (a) Prepare an income statement for external users.

                                    Laworld Inc.

                                Income Statement

Total revenue                                                          $12,000,000

Cost of goods sold:

Direct materials $3,600,000Direct labor $2,400,000Manufacturing overhead $3,200,000        

Total COGS                                                             ($9,200,000)

Gross profit                                                               $2,800,000

Operating expenses:

Sales commissions $400,000Advertising expenses $100,000Administrative expenses $300,000

Total operating expenses                                        ($800,000)

Net profit from operations                                      $2,000,000

(b) Did you need to prepare a supporting statement of cost of goods manufactured? Explain.

No, since the COGS were fairly simple (no beginning or ending inventory) you can just squeeze the information.

3. Suppose 200,000 tents were produced (and 200,000 sold) but that the company had a beginning finished goods inventory of 10,000 tents produced in the prior year at $40 per unit. The company follows a first-in, first-out policy for its inventory (meaning that the units produced first are sold first for purposes of cost flow). (a) What effect does this have on the income statement?

Both gross profit and net profit would increase since COGS would be lower: COGS = (10,000 x $40) + (190,000 x $46) = $9,140,000, which is $60,000 less.

(b) Prepare a cost of goods sold statement.

Incurred costs:

Direct materials                                                            $3,600,000

Direct labor                                                                   $2,400,000

Manufacturing overhead                                             $3,200,000

Cost of goods manufactured                                      $9,200,000

Beginning inventory of finished units                            $400,000

Ending inventory of finished units                                ($460,000)

Cost of goods sold                                                       $9,140,000

Explanation:

revenue = 200,000 x $60 = $12,000,000

manufacturing costs:

Direct materials $18 x 200,000 = $3,600,000Direct labor $12 x 200,000 = $2,400,000Manufacturing overhead $16 x 200,000 = $3,200,000total = $9,200,000

product cost per unit = $18 + $12 + $16 = $46

S&A expenses:

sales commission of $2 x 200,000 = $400,000advertising totaling $100,000administrative expenses $300,000total $800,000

If a fixed asset, such as a computer, were purchased on January 1st for $1,832.00 with an estimated life of 6 years and a salvage or residual value of $123.00, what is the journal entry for monthly expense under straight-line depreciation?

Answers

Answer:

Dr depreciation expense  $ 23.74  

Cr accumulated depreciation              $ 23.74  

Explanation:

The depreciation per month would be first thing to determine:

Yearly depreciation =Cost of asset-residual value/useful life

cost of asset is $1,832.00

residual value which is disposal value at the end of useful life is $123.00

Useful life is 6 years

yearly depreciation charge= ($1,832.00-$123.00)/6=$ 284.83  

Monthly depreciation expense=yearly depreciation charge/12=$284.83/12=$23.74  

The journal entry monthly would be a debit to depreciation expense and a credit to accumulated depreciation

Sterile Feral, Inc. is a nonprofit organization that catches wild or stray cats, and then neuters, vaccinates, and releases them back into the wild. In recent years, nonprofit organizations such as Sterile Feral have turned to marketing to help:__________.
a. receive additional government funding.
b. expand its business to stray dogs.
c. maintain its nonprofit status.
d. achieve organizational goals.
e. compete with other similar organizations.

Answers

Answer:

d. achieve organizational goals.

Explanation:

Sterile Feral, Inc. being a non-profit organization that catches wild or stray cats, and then neuters, vaccinates, and releases them back into the wild.

If Sterile Feral Inc. then turns to marketing, this simply means that they're more interested in achieving organizational goals of saving endangered cats.

Also, as a non-profit organization, Sterile Feral Inc. isn't operating solely to make money or profits, it is rather literally trying to impact positively the cat world.

The following inventory balances relate to Lequin Manufacturing Corporation at the beginning and end of the year: Beginning Ending Raw materials $14,000 $19,000 Work in process $31,000 $7,000 Finished goods $25,000 $23,000 Lequin's total manufacturing cost was $543,000. What was Lequin's cost of goods sold?

Answers

Answer:

Cost of goods sold  = $564,000

Explanation:

The cost of goods sold would be determined as follows:

                                                                                 $

Opening inventory

Raw material =                                                   14,000

Work in progress                                                 31,000

Manufacturing cost                                            543,000

                                                                            588,000

Add open inventory of Finished goods              25,000

Less Closing inventory

raw material                                                          ( 19,000)

Work in progress                                                 ( 7,000)

Total cost of goods available for sale               587,000

Less closing inventory of finished goods           23,000      

Cost of goods sold                                              564,000

Note that the opening inventory of raw material  and work in progress would increase the manufacturing cost while their respective closing inventory represent cost incurred on production during the period on inventories not yet completed

Crowding out is associated with:

a. an increase in business investment resulting from an increase in government borrowing and higher interest rates.
b. a reduction in business investment resulting from an increase in government borrowing and higher interest rates.
c. an increase in private savings caused by higher future tax liabilities when government increases borrowing.
d. a decrease in government spending caused by a shortage of available credit.

Answers

Answer:

b. a reduction in business investment resulting from an increase in government borrowing and higher interest rates.

Explanation:

According to the crowding out theory, when there is an increase in government spending, private spending would be reduced.

When the government borrows, real interest rate would increase and this would reduce private sector spending.

I hope my answer helps you

How can economies of scale benefit you as a customer and society as a whole? Can the taxicab industry, in large cities, be subject to significant economies of scale? Are ride-sharing services, such as Uber and Lyft, able to take advantage of economies of scale? How or why not?

Answers

Answer:

The answer to this question can be described as follows:

Explanation:

The economy scale with cost activity and total volumes of sales, which lowers the overall product prices as a result, and grows all economies of scale, because consumers purchase the stuff like those, who pay even less than the amount they expect to receive.  

It is the transition, the same saved money it's spent on other commodities and the overall deficit as well as the actual boosting of financial social assistance that generates income as a whole. It also increases outlays and creates more jobs, and benefits people with higher median income levels and a decent standard of living, For example  

Uber often encourages ride-sharing, in which the car is capable of serving 3-4 people simultaneously. This gives a win-win situation to all sides and generates economies of scale. Throughout the market like India, Uber already is introducing it and being extremely successful.

Crazy Mountain Outfitters Co., an outfitter store for fishing treks, prepared the following unadjusted trial balance at the end of its first year of operations:

Crazy Mountain Outfitters Co. Unadjusted Trial Balance April 30, 20Y5

Debit Balances Credit Balances
Cash 11,400
Accounts Receivable 72,600
Supplies 7,200
Equipment 112,000
Accounts Payable 12,200
Unearned Fees 19,200
Common Stock 20,000
Retained Earnings 117,800
Dividends 10,000
Fees Earned 305,800
Wages Expense 157,800
Rent Expense 55,000
Utilities Expense 42,000
Miscellaneous Expense 7,000
475,000 475,000

For preparing the adjusting entries, the following data were assembled:
a. Supplies on hand on April 30 were $1,380.
b. Fees earned but unbilled on April 30 were $3,900.
c. Depreciation of equipment was estimated to be $3,000 for the year.
d. Unpaid wages accrued on April 30 were $2,475.
e. The balance in unearned fees represented the April 1 receipt in advance for services to be provided. Only $14,140 of the services was provided between April 1 and April 30.

Required:

1. Journalize the adjusting entries necessary on April 30. 2016.
2. Determine the revenues, expenses, and net income of Crazy Mountain Outfitters before the adjusting entries.
3. Determine the revenues, expense, and net income of Crazy Mountain Outfitters G after the adjusting entries.
4. Determine the effect of the adjusting entries on Retained Earnings.

Answers

Answer:

Required 1.

a.

Supplies Inventory $1,380 (debit)

Income Statement $1,380 (credit)

b.

Cash $3,900 (debit)

Un-earned Fees $3,900 (credit)

c.

Depreciation $3,000 (debit)

Accumulated Depreciation $3,000 (credit)

d.

Wages Expenses $2,475 (debit)

Wages Accrued $2,475 (credit)

e.

Unearned Fees $14,140 (debit)

Fees Earned $14,140 (credit)

Required 2.

Fees Earned                                305,800

Less Expenses :

Wages Expense                          (157,800)

Rent Expense                               (55,000 )

Utilities Expense                          (42,000 )

Miscellaneous Expense                (7,000)

Net Income / (loss)                        44,000

Required 3.

Fees Earned (305,800 + 14,140)       319,940

Less Expenses :

Wages Expense (157,800  + 2,475) (160,275)

Rent Expense                                    (55,000 )

Utilities Expense                               (42,000 )

Miscellaneous Expense                      (7,000)

Depreciation                                        (3,000)

Net Income / (loss)                              52,665

Required 4.

Effect = Increase by $8,665

Explanation:

Required 3.

Make the following Adjustments :

Increase the Fees EarnedIncrease the Wages ExpenseInclude the Depreciation Expense in Net Income calculation.

Required 4

Adjust the Retained Earnings with items affecting the Income Statement.

Retained Earnings                            $117,800

Less Depreciation Expense             ($3,000)

Less Wages Accrued                       ($2,475)

Add Fees Earned                              $14,140

Adjusted Retained Earnings           $126,465

Conclusion  :

Effect = Increase

Amount = $126,465 - $117,800 = $8,665

A local theater company sells 1,500 season ticket packages at a price of $250 per package. The first show in the 10-show season starts this week. (a) The sale of the season tickets before the first show. (b) The revenue from fulfilling the performance obligation by putting on the first show.

Answers

Answer:

Dr cash    $375,000

Cr unearned revenue      $375,000

Dr unearned revenue     $37,500

Cr revenue                                    $37,500

Explanation:

The total amount realized from the sale of tickets is  $375,000($250*1500)

However,the cash proceeds should be debited to cash while it is also credited to unearned revenue

The revenue from fulfilling the performance obligation=1/10*$375,000=$37,500

The $37,500 is debited to unearned revenue and credited to sales revenue as that amount has now been earned

a) The cash realized from the sale for all the season tickets is $375,000.

b) The revenue to be recognized after fulfilling the performance obligation of the first show is $37,500.

Data and Calculations:

Selling price per ticket package = $250

Number of ticket packages sold = 1,500

Number of show seasons = 10

On the average, each show season will take = 150 tickets (1,500/10)

Proceeds from sale of season tickets = $375,000 ($250 x 1,500)

Revenue from first show = $37,500 ($375,000/10) or (150 x $250)

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