1. Master budget: it is an integrated set of operating and financing budgets for a period of time.
2. Production budget: it estimates the number of units to be manufactured to meet sales and inventory levels.
3. Flexible budget: it shows expected results at several activity levels.
4. Sales budget: it begins by estimating the quantity of sales.
5. Static budget: it shows expected results at only one activity level.
A budget can be defined as a financial plan that is used for the estimation of revenue and expenditures of an individual, organization or government, especially for a specified period of time, often one (1) year.
Basically, there are different types of budget and this include:
1. Master budget: it comprises an integrated set of both investing, operating and financing budgets for a specified period of time, often one (1) year.
2. Production budget: it estimates the number of units to be manufactured by a business firm, so as to meet budgeted sales and inventory levels.
3. Flexible budget: it shows expected results of a business firm (responsibility center) at several activity levels.
It is also referred to as variable budget and it's used both before and after a period's activities are completed.4. Sales budget: it begins by estimating the quantity of sales.
Once the quantity of sales are estimated, the sales revenue that are expected is calculated by multiplying the expected unit sales price by the volume.5. Static budget: it shows expected results of a business firm (responsibility center) at only one activity level.
A static budget is usually based on a predicted amount of sales or any other measure of activity.Read more on budget here: https://brainly.com/question/8976831
A man who had been living with a woman in an old farmhouse left without warning. In a note, he told her that he was not coming back other than to get his possessions in the spring, and he told her not to touch them. Among his possessions was an extensive set of woodworking tools that he kept in a workshop. During the winter, the cost of heating the farmhouse, which the two had previously shared, became too high for the woman to pay. The manager of the local heating oil company agreed to provide heating oil in exchange for unlimited use of the woodworking tools. The man learned that the tools were being used by the manager of the heating oil company and sued the woman for conversion. No harm was done to the tools. If the woman prevails, what is the most likely reason
Answer: No harm was done to the tools
Explanation:
Most times people tend to bridge agreement that they had with other person's, especially when they find out the agreement will favour them. The woman had no right to give out the property of her co-tenant to oil company man, while the co-tenant has every right to sue her, but what would be her escape would be that the tools were still intact, while her reason would be that she wanted to maintain their stay there, which the option was a way to do it.
The endpoints (horizontal and vertical intercepts) of the budget line: Group of answer choices represent the quantity of each good that could be purchased if all of the budget were allocated to that good. measure the rate at which one good can be substituted for another. measure its slope. indicate the highest level of satisfaction the consumer can achieve. measure the rate at which a consumer is willing to trade one good for another.
Answer:
represent the quantity of each good that could be purchased if all of the budget were allocated to that good.
Explanation:
The budget line is a graph which shows the two combinations of goods a consumer can consume given price and income level
Properties of the budget line
When income increases, the budget line shifts outward and shifts inward when income decreasesthe horizontal and vertical intercepts represent the quantity of each good that could be purchased if all of the budget were allocated to that good.the budget line is a straight line. This indicates that the marginal rate of substitution is constant the budget line is negatively slopedwhat account is a affected when goods are sold on credit
Answer: account receivable account
Explanation:
The accounts receivable account simply refers to an asset account on the balance sheet which represents the money that is due to a business in the short term. It should be noted that the accounts receivables are created when goods are bought on credit by the buyer.
In such case, when the goods are sold on credit to the buyer, this will lead to a debit on the account receivable account and this will bring about an increase to the company's assets.
In one of the case studies in the textbook, Jerry Harkanell worked as an administrative assistant for a large San Antonio hospital, where his clerical duties included the submission of the payroll information for his unit. He found that he could add hours to the timesheets and receive extra pay. He continued to alter his timesheets until he was finally caught. What red flag was present that should have made someone suspicious
Answer:
There could have been multiple red flags in this overall case conduct like :
1. Continuous overtime from an employee should have been checked as what would be the reason behind it.
2. Ground reality should have been evaluated, like what are actual timings of Jerry's coming into office and going out.
3. Sheets of person-ell in second shift after Jerry should have also been checked.
The relation between quality & the human resource function
Explanation:
Human resource management play a crucial part in the whole quality management project implementation. The benefits of TQM procedures include increased quality, efficiency, and customer happiness, with Human Resource Management playing a key part in facilitating TQM activities.
Britain taxed windows from 1696 until 1851. Under the 17471757 tax​ rates, you would pay no tax if your home had 09 ​windows, but if your home had 1014 windows you would pay a tax of 6 pence per window for every window in your home. The window tax is similar to the U.S. income tax in that both are​ ___________. A. progressive taxes. B. regressive taxes. C. sales taxes. D. proportional taxes.
Answer:
A
Explanation:
A tax is a complusory sum levied byb the government or an agency of the government on goods and services.
Taxes increases the price of goods and services
Types of taxes
1. A progressive tax is a tax structure where those who earn higher income are taxed more and those that earn less pay less amount of tax.
A progressive tax ensures vertical equity.
The British system of taxation is an example of a progressive tax. This is because the more windows your house has, the wealthier the individual is. Individual with more windows, would pay a higher tax rate
2. Regressive tax system is a tax system where those that earn lower income pay more tax and those that earn higher income pay less tax.
A graduated income tax is also known as progressive tax
3. A proportionate tax taxes everyone the same regardless of the amount earned.
4. A sales tax is an example of consumption tax. It is levied on the sales of goods and services
Country A is a developing country that has a significant population and represents a sizable market for a wide range of products. It has a strong growth rate and is considered a regional economic driver. Based on this information, Country A can be classified as a ________ market.
Answer:
big emerging
Explanation:
An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.
Basically, there are four (4) main types of economy and these are;
I. Mixed economy.
II. Command economy.
III. Traditional economy.
IV. Pure capitalism economy.
In this scenario, Country A is a developing country with a significant population that indicates a sizable market for a wide range of products. Also, the growth rate of clCountry A is very strong and is considered a regional economic driver.
Based on this information, Country A can be classified as a big emerging market because it's capable of growing very fast to compete with other markets.
In ________ organizational cultures, more individuality is shown through the organization's rules being less strictly applied.
Answer:
weak
Explanation:
An organization's culture describe the behavior of an organization. It comprised of the beliefs and values that should be shared in the organization
In the case when there is a weak organization culture so here the rules of the organization should be less strictly followed instead of more strictly followed as it is a weak organization structure
Therefore the weak should be the term that should be applied in the current situation
You want to invest in a riskless project in Sweden. The project has an initial cost of SKr3.86 million and is expected to produce cash inflows of SKr1.76 million a year for three years. The project will be worthless after three years. The expected inflation rate in Sweden is 3.2 percent while it is 2.8 percent in the U.S. A risk-free security is paying 4.1 percent in the U.S. The current spot rate is SKr7.7274. What is the net present value of this project in Swedish krona if the international Fisher effect applies
Answer:
Skr 978,177
Explanation:
The computation of the net present value is given below:
Given that
Inflation in USA = 2.80%
The Nominal rate in USA = 4.10%
As we know that
Real rate = Nominal rate - inflation
Real rate = 4.10% - 2.80%
= 1.3%
Now nominal rate in Sweden should be
= Real rate + Inflation
= 1.3% + 3.20%
= 4.50%
Net present value = initial outlay + Present value (Cash Flow)
NPV(in SKr million) = -3.86 + 1.76 ÷ (1+0.045) + 1.76 ÷ (1+0.045)^2 + 1.76 ÷ (1+0.045)^3
= -3.86 + 4.838177
= 0.978177 million
= Skr 978,177
important of doctor any five
Answer:
saving life, extending life, humanitarian work, controlling epidemic and conducting research
Sheridan Company is planning to sell 900 boxes of ceramic tile, with production estimated at 670 boxes during May. Each box of tile requires 44 pounds of clay mix and a 0.25 hour of direct labor. Clay mix costs $0.40 per pound and employees of the company are paid $20 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Sheridan has 3400 pounds of clay mix in beginning inventory and wants to have 4600 pounds in ending inventory. What is the total amount to be budgeted for manufacturing overhead for the month?
Answer:
$3,685
Explanation:
Calculation to determine the total amount to be budgeted for manufacturing overhead for the month
Using this formula
Total budgeted for manufacturing overhead =(Estimated boxes)(Quarter Hour Direct labor)(Per hour cost)*(Overhead applied rate)
Let plug in the formula
Total budgeted for manufacturing overhead =(670) (.25) ($20) (1.1)
Total budgeted for manufacturing overhead =$3,685
Therefore the total amount to be budgeted for manufacturing overhead for the month is $3,685
Ludwig borrowed $700,000 for a
period of 2 years. His interest rate is
10%. How much interest will
Ludwig pay in all?
$[?]
Answer:
$140000
Explanation:
Principle = $700000
Rate = 10%
Time = 2 years
Simple interest = P x R x T / 100
Simple interest = 700000 x 10 x 2 / 100
Simple interest = 70000 x 2
Simple interest = $140000
Eloise, a medical equipment sales rep, purchases a quick snack to eat on the way to work. She buys lunch while on the road visiting customers, and grabs bread and milk on the way home when she stops to buy gas. Eloise probably does the majority of this shopping at a
Answer:
convenience store
Explanation:
A convenience store is a retail store that usually sells a large range of everyday items to customers.
The amounts of these products are usually in small amounts (not wholesale).
Items sold could include drinks, coffee, snacks, over the counter drugs, milk, bread, and so on.
In the given scenario Eloise purchases a quick snack, lunch, bread,, milk, and gas during the day.
She is most likely making purchases from a convenience store
Calculate the WACC for the following data: A company raised $100,000,000. $50,000,000 came from the sale of bonds which have a current yield of 8%. $25,000,000 came from the sale of common stock which has a cost equal to 14%. The final $25,000,000 came from the sale of preferred stock which has a cost equal to 10%. The company's tax rate is 50%.Group of answer choices
Answer:
WACC = 8%
Explanation:
WB = Weight of bond = Amount raised from bond / Total amount raised = $50,000,000 / $100,000,000 = 0.50
WC = Weight of common stock = Amount raised from common stock / Total amount raised = ($25,000,000 / $100,000,000) = 0.25
WP = Weight of preferred stock = Amount raised from preferred stock / Total amount raised = ($25,000,000 / $100,000,000) = 0.25
CB = Cost of bond = Current yield of the bond * (100% - Tax rate) = 8% * (100% - 50%) = 4%
CC = Cost of common stock = 14%
CP = Cost of preferred stock = 10%
Therefore, weighted average cost of capital (WACC) can be calculated as follows:
WACC = (WB * CB) + (WC * CC) + (WP * CP) = (0.50 * 4%) + (0.25 * 14%) + (0.25 * 10%) = 0.08, or 8%
If the​ firm's average cost curves are​ U-shaped, why does its average variable cost curve achieve its minimum at a lower level of output than the average total cost​ curve? The average variable cost curve will achieve its minimum at a lower level of output than the average total cost curve because A. average total cost equals average variable cost plus average fixed​ cost, and the average fixed cost curve continues to fall as more output is produced. B. average total cost equals average variable cost minus average fixed​ cost, and the average fixed cost of production reaches its minimum at a higher level of output than the average variable cost curve . C. average total cost equals average variable cost plus average fixed​ cost, and the average fixed cost of production is constant . D. average total cost equals average variable cost plus average fixed​ cost, and the decrease in average fixed costs with output is always smaller than eventual increases in average variable costs with output. E. average total cost equals average fixed cost plus marginal​ cost, and the marginal cost curve continues to fall as more output is produced.
Answer:
A. average total cost equals average variable cost plus average fixed cost, and the average fixed cost curve continues to fall as more output is produced.
Explanation:
The average cost is defined as the total cost of a product or item divided by the total number of the product produced. The average cost refers to how many firms or organizations choose to price their products.
The average cost curve is always a U-shaped curve.
The average total cost = average variable cost + average fixed cost
When we graph them, the average fixed cost is the difference between the U-shape ATC (average total cost) and the AVC (average variable cost).
The average variable cost is sloping downwards at all the levels of the output and as a result the average fixed cost also also continues to fall.
Thus the correct option is (A).
Although Kemal attempted to create a strong Turkish economy, how did his policies only add to the international global depression? a. Kemal tried to discourage Turks from buying foreign goods. b. High tariffs on imported goods only hurt other nations involved in the global depression. c. Goods from Europe and American were banned in Turkey. d. Government subsidies kept Turkish goods cheap in the nation and discouraged foreign imports. e. Kemal tried to create a totally domestic solution to the economic problems.
Answer:
b. High tariffs on imported goods only hurt other nations involved in the global depression
Explanation:
Although Kemal attempted to create a strong Turkish economy, his policies only add to the international global depression due to the placement of "High tariffs on imported goods."
Kemal who was once the President of the new Turkey from the old Ottoman Empire had series of reforms including economic policies that favor internal production and discourage reliance on importation. However, his administration was around the global depression period, and his policies of high tariffs on imported goods only hurt other nations involved in the global depression.
Abba, Inc. is considering dropping a product line. During the prior year, the line had sales of $207,000 and a contribution margin of $124,000. Fixed expenses consist of: Salaries $60,000 Rent 50,000 Advertising 20,000 Administrative 35,000 Total fixed expenses $165,000 The product line manager's $60,000 salary is avoidable as is the $20,000 of advertising. Of the administrative expenses, $10,000 is avoidable. The rest are general allocated expenses that will not change if the product is dropped. The rent expense is allocated to product lines based on sales and represents a share of the total cost for the building. If this product line is dropped overall net operating income will:
Answer:
Overall net income will decrease by $34,000.
Explanation:
Calculation to determine net operating income
Using this formula formula
Net operating income=Contribution margin -Avoidable costs
Where,
Contribution margin =$124,000
Avoidable costs= Salaries $60,000
+Advertising $20,000+Administrative expenses $10,000
Let plug in the formula
Net operating income=$124,000-($60,000+$20,000+$10,000)
Net operating income=$124,000-$90,000
Net operating income=$34,000 Decrease
Therefore If this product line is dropped overall net operating income will:decrease by $34,000
how can foreign employment play a significant role in raising the economic standard of people? (●-●)
Answer:
Answer to the following question is as follows;
Explanation:
Foreign work raises people's living standards and has become a significant source of international money. Foreign employment helps a country's unemployment crisis. Due to a lack of suitable employment opportunities in the domestic labour market, about 800,000 youngsters have gone abroad until Asar 2064.
The manager of a clothing store in the mall has hired five new employees for the summer. All of them have just graduated from high school and will only work the three summer months before leaving for college. After the initial week of training, the manager continues to scrutinize and direct them in every detail of their job. Each time they make a mistake they are reprimanded, told their pay may be docked, and reminded that there are always other people who will gladly take their place. This manager is using the approach to management known as:
Answer:
Theory X
Explanation:
It is correct to say that this manager is using the management approach known as theory X, which is a philosophy that says employees work only for the benefits they receive, and that they avoid job responsibilities, so management must be inflexible and follow the hierarchy of functions, with the manager being responsible for a high degree of supervision of the work and the responsibility of the employee for any error.
Theory X may not be ideal for the current administration, where the focus of organizations are people and the formation of a culture focused on innovation and collaboration.
Johni is the CEO of a struggling company. She has listened to her employee's complaints and concerns about where the corporation is going and has developed a new vision that she feels will help develop a common bond throughout the organization. Johni then hosted a company-wide picnic where she delivered an inspiring speech about the new plans for the business, including her plans for more open communication between management and employees. After her speech, management and employees all participated in trust building exercises and each employee had a one-on-one conversation with Johni. What type of leadership theory most resembles Johni's actions
Answer: Transformational Leadership
Explanation:
Transformational Leadership could be described as a process where a leader is able to communicate plans, aim and goals with his or her team and they respond with improvement and rapid growth. Their growth was as a result of the leaders effect among them.
Johni can be seen as carrying out a transformational leadership due to she's able to turn around the tide of the with her employees as they now perform better based on her leadership pattern.
Michelle is attending a university where tuition for one year costs $17,300. She has a scholarship worth $5,000 per year. She earns $2,700 per year at her part-time job. She plans to take out a loan to cover the remaining tuition costs. Tuition will increase by $500 each year. If she completes college in 4 years, how much money will Michelle need to borrow
Answer:
$41,400
Explanation:
Tuition will increase by $500 each year
Year 1 tuition = $17,300
Year 2 tuition = $17,800
Year 3 tuition = $18,300
Year 4 tuition = $18,800
Total = $72,200
Scholarship per year = $5000
Total scholarship for 4 years = 4 * $5000
= $20,000
Earnings per year = $2,700
Total earnings for four years = 4 * $2,700
= $10,800
She plans to take out a loan to cover the remaining tuition costs
Loan = Total tuition - (Total scholarship for 4 years + Total earnings for four years)
= $72,200 - ( $20,000 + $10,800)
= 72,200 - (30,800)
= 72,200 - 30,800
= 41,400
Loan = $41,400
Michelle need to borrow $41,400
The principal represents an amount of money deposited in a savings account subject to compound interest at the given rate. Principal Rate Compounded Time $ 7000 8 % annually 4 years A. Find how much money there will be in the account after the given number of years. B. Find the interest earned.
Answer:
Results are below.
Explanation:
Giving the following information:
Present value(PV)= $7,000
Number of periods (n)= 4 years
Interest rate (i)= 8% annually
To calculate the future value of the investment, we need to use the following formula:
FV= PV*(1 + i)^n
FV= 7,000*(1.08^4)
FV= $9,523.42
Now, the interest earned:
Interest earned= FV - PV
Interest earned= 9,523.42 - 7,000
Interest earned= $2,523.42
Y Corporation's password protection policy requires all employees to change their passwords every week. Because of this requirement, technical support spent a significant amount of time solving password problems for employees who forgot their passwords. To increase efficiency, the CEO of Y Corporation canceled the policy and subsequently required employees to change their passwords once a year
a. collusion
b. management override
c. external events beyond an organization's control
d. unsuitable objectives for internal control
e. human error
f. cost v. benefit
The Brazilian government wants to build a global satellite transmission system. The manufacturer will receive $500,000 above actual development costs, whatever those costs may be. Payment to the manufacturer of the satellite transmission system has been determined using:
Answer: cost-plus-fixed-fee pricing
Explanation:
The cost-plus fixed fee pricing refers to the pricing whereby the contractor is paid for the normal expenses that's incurred plus an additional fixed fee.
In this case, the satellite manufacturer will get a mutually agreed upon profit which is above all the costs that was involved in the project. Therefore, this refers to the cost-plus-fixed-fee pricing.
ECO Jeans, Inc. had a mission to become the leading producer of environmentally friendly blue jeans, an emerging and in-demand category in the apparel industry. Its strategy involved leveraging a network of organic cotton farmers and suppliers of environmentally responsible synthetic materials to create a product that is durable, attractive, affordable, and 100% recyclable. However, because it did not upgrade its outdated production facilities, ECO Jeans could not assemble its products at a low-enough cost to offer the jeans at a price that was attractive to customers. ECO Jeans’ strategy failed because
Answer: it was not backed up with strategic commitments.
Explanation:
The reason why ECO Jeans’ strategy failed is because the strategy was not backed up with strategic commitments.
Strategic commitments refers to the decisions that are taken by a company which have a long-term impact on the company.
Since ECO jeans could not upgrade its outdated production facilities, the company could not assemble its products at a low-enough cost to offer the jeans at a price that was attractive to customers. This could have had a positive impact on the company for a long term.
What is the difference between productive and service oriented professions Explain with examples
Answer:
Explanation:
Product vs Service Business
While it may seem to go against traditional thinking, in some ways there is very little difference between product based and service based companies. In actuality, both sell a product. The distinction between the two is that the product business sells a physical, tangible product, while the service business owner sells his skills as the primary product. In the service-based business, customers purchase the skills of a service provider or owner, such as a plumber or lawyer, This type of business has a strong emphasis on the client relationship and makes the customer's user experience very important. Product-based businesses, on the other hand, deliver physical products that are reasonably consistent in quality for each customer, making the customer experience fairly predictable.
Local or Global Consumer Markets
In general, when consumers are looking for new solutions they try to distinguish the different services/products of business and industry in the locality where they reside. As such, businesses need to target their product and service based businesses to the appropriate markets. Consumers located anywhere in the global market can purchase a product via the internet as long as they can have their purchase delivered locally and cost effectively. However, most service businesses can only provide services to customers within their local target market. For example, while a computer store can ship computers all over the world, a hairstylist will only attract clients within a reasonable driving distance from her home or business. As a result, businesses need to consider how their customer base will influence their marketing efforts.
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Suppose a consumer only purchases food and clothing, and food is plotted along the horizontal axis of the consumer's indifference map. If the price of clothing increases and the price of food and income do not change, then the budget line changes by rotating: Group of answer choices clockwise about the fixed horizontal axis intercept. clockwise about the fixed vertical axis intercept. counter-clockwise about the fixed vertical axis intercept. counter-clockwise about the fixed horizontal axis intercept. none of these options is correct.
Answer:
counter-clockwise about the fixed horizontal axis intercept.
Explanation:
An indifference curve is a graph that shows the two combinations of goods for which an individual is indifferent in its consumption.
Points on an indifference curve represents various combination of goods to which an individual is indifferent to
higher indifference curve represents higher level of utility
An indifference map is a graph of various indifference curves
On the indifference map, indifference curves that are higher would be more preferred to those that are lower
At her new job, Nicole developed a supportive relationship with Sheila, who worked with the same real estate agency for several years. Nicole talked with Sheila about a problem she was facing in the workplace. Sheila suggested possible solutions and they discussed the strengths and weaknesses of each. This is an example of
Answer:
mentoring.
Explanation:
This is an example of mentoring.
The United States Food and Drug Administration requires manufacturers of processed foods to publish nutrition information on the packaging at a considerable cost to the firms. How does this requirement affect economic​ efficiency? A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize. B. It moves the market toward economic efficiency by reducing the market failure caused by a lack of​ information, enabling consumers to make better informed decisions regarding nutrition. C. It moves the market away from economic efficiency because the additional cost of​ labeling, which is not accounted for in the market​ price, creates a market failure. D. It moves the market away from economic efficiency because the additional cost of labeling adds little value but raises the price of food above marginal cost.
Answer:
A. It moves the market toward economic efficiency because the additional information represents a positive externality that the FDA is forcing firms to internalize.
Explanation:
The US food and drug administration needs to follow some standard procedure such as the placing of labels and identifying marks on the products so as to provide additional information to the consumers and clients. This helps both consumers and the company by setting up goodwill and enhances their productivity.Sort the list below according to whether or not an item is an assumption made under perfect competition (aka pure competition or competitive industry).Assumed in perfect Competition------------------Not Assumed in perfect Competition-A small number of producers-Significant barriers to entry-Many buyers-Firms selling similar but different goods-Price taking behavior
Answer:
Assumed in perfect Competition
Many buyers
Price taking behavior
Not assumed in perfect Competition
A small number of producers
Significant barriers to entry
Firms selling similar but different goods
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
