On a personal balance sheet, the best way to categorize your car and car loan would be:
The car is a $40,000 asset, and the car loan is a $35,000 liability.
The car is considered an asset because it has value and represents ownership. In this case, the car is valued at $40,000. As an asset, it contributes to your overall net worth. On the other hand, the car loan is a liability because it represents an obligation or debt that you owe.
The car loan amount of $35,000 is the outstanding balance that you need to repay. Liabilities are subtracted from your assets to determine your net worth or equity.
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Inventory adjustments are required when:
a. Goods are accidentally broken by staff.
b. The cost price of goods purchased decreases.
c. The selling price of goods increases or decreases.
d. Items are purchased that were not in inventory before.
Inventory adjustments are required when:
a. Goods are accidentally broken by staff.
b. The cost price of goods purchased decreases.
d. Items are purchased that were not in inventory before.
Inventory adjustments are necessary in various situations to accurately reflect the value and quantity of inventory on hand. Let's break down the options:
a. Goods are accidentally broken by staff: When goods are damaged or broken, it affects the value and quantity of inventory. In such cases, an adjustment is needed to reduce the inventory value and quantity to account for the damaged or broken items.
b. The cost price of goods purchased decreases: If the cost price of goods purchased decreases due to factors such as discounts or special pricing, it affects the value of the inventory. An adjustment is necessary to reduce the value of the inventory based on the lower cost price.
c. The selling price of goods increases or decreases: Changes in the selling price of goods do not directly require inventory adjustments. They impact revenue and gross profit calculations but not the value or quantity of inventory.
d. Items are purchased that were not in inventory before: When new items are purchased and added to inventory, an adjustment is needed to reflect the increased quantity and value of the inventory.
In conclusion, inventory adjustments are required when goods are accidentally broken, the cost price of goods purchased decreases, or new items are purchased and added to inventory. Changes in selling prices do not directly necessitate inventory adjustments
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Lean Accounting The annual budgeted conversion costs for a lean cell are $201,600 for 2,800 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month,
The total cost of producing 7,000 units is $75,600. Lean accounting is an accounting system that is used in lean manufacturing. It is designed to support the production of goods and services with minimum waste by adopting lean principles.
In the context of the question, the annual budgeted conversion costs for a lean cell are $201,600 for 2,800 production hours. Each unit produced by the cell requires 9 minutes of cell process time. During the month, the lean cell produces 7,000 units.
The cell runs only one shift during the month, which is 160 hours. Let us now calculate the conversion cost per unit and the cost per hour. Conversion cost per unit = Annual budgeted conversion costs for the cell ÷ Annual production hours = $201,600 ÷ 2,800 hours = $72 per hour Cost per unit produced = (Cost per hour × Cell process time per unit produced) ÷ 60 = ($72 × 9) ÷ 60 = $10.80 per unit produced The total cost of producing 7,000 units = Cost per unit produced × Number of units produced = $10.80 × 7,000 units = $75,600. Therefore, the total cost of producing 7,000 units is $75,600.
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Which of the following is correct?
A. According to the pecking order theory, a firm prefers debt to equity for financing, because equity does not provide tax shields.
B. According to the pecking order theory, a profitable firm should borrow more because the firm has a lot of cash flows and suffers less from financial distress.
C. According to the trade-off theory, the optimal debt level may vary across different firms.
D. The trade-off theory helps to explain why average debt ratio of US public firms do not change compared to decades ago when taxation has changed a lot.
Among the given options, option C is correct. According to the trade-off theory, the optimal debt level may vary across different firms. Options A, B, and D are incorrect.
A. This option is incorrect. According to the pecking order theory, firms prefer internal financing (retained earnings) over external financing. Debt is preferred over equity because debt provides tax shields through interest deductions, unlike equity.
B. This option is incorrect. The pecking order theory does not suggest that a profitable firm should borrow more. It states that firms prefer internal financing (retained earnings) and will use debt as a last resort when internal funds are insufficient.
C. This option is correct. The trade-off theory recognizes that the optimal debt level varies across different firms. It considers the balance between the tax benefits of debt (interest tax shield) and the costs of financial distress. The optimal debt level depends on factors such as the firm's profitability, volatility of cash flows, and industry characteristics.
D. This option is incorrect. The trade-off theory does not directly explain why the average debt ratio of US public firms has remained unchanged over decades despite changes in taxation.
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How do I do a Production Budget AND CASH budget and Purchase Budget. please give a template
, example and explanation.
please please. my lecturer taught us nth
Production budget, cash budget, and purchase budget are all crucial in the success of a business. They help you manage your company's money, inventory, and production levels.
Production Budget:A production budget is a document that outlines the amount of merchandise that must be produced to meet sales goals. It's a crucial step in the production planning process. The formula for calculating the production budget is as follows:Sales forecast for the period + Inventory at the start of the period = Required production for the period. Example:Let's say that you're running a toy company, and you forecast sales of 10,000 units for the month of December. You have 2,000 units left in inventory from the previous month. To meet your sales goals, you need to produce 8,000 units during December.
Cash Budget:A cash budget is a financial document that forecasts a company's cash inflows and outflows over a specified period. It's used to ensure that the company has enough cash on hand to cover its expenses and investments. To create a cash budget, you'll need to take into account all the cash that's coming in and going out of the business during the budget period. This includes cash sales, accounts receivable collections, and loans received as well as cash payments, accounts payable, and capital expenditures.Example:If your business expects to collect $30,000 in cash sales and $10,000 in accounts receivable collections in December and make cash payments of $20,000, your expected cash inflows will be $40,000 and your expected cash outflows will be $20,000.
Purchase Budget:A purchase budget is a financial document that outlines the amount of inventory that must be purchased to meet production and sales goals. The formula for calculating the purchase budget is as follows:Required production for the period + Desired ending inventory - Beginning inventory = Required purchases. Example:Let's assume that your toy company needs to produce 8,000 units of a particular toy to meet sales goals for the month of December. You have 2,000 units of that toy in inventory from the previous month, and you'd like to have 4,000 units on hand at the end of December. To meet these goals, you'll need to purchase 10,000 units of that toy in December.
In conclusion, production budget, cash budget, and purchase budget are essential documents for any business. They help you make informed decisions about inventory, production levels, and spending. Using the templates, examples, and explanations provided in this answer, you'll be able to create budgets that are specific to your business's needs and goals.
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he finance director of W Ltd has been looking to improve the company's working capital management. W Ltd has revenue from credit sales of €25,000,000 per year and although its terms of trade require all credit customers to settle outstanding invoices within 60 days, on average customers have been taking longer. Approximately 29% of credit sales turn into bad debts which are not recovered. Trade receivables currently stand at €4,500,000 and W Ltd has a cost of short-term finance of 6% per year. The finance director is considering a proposal from a factoring company, N Ltd, which was invited to tender to manage the sales ledger of W Ltd on a with-recourse basis. N Ltd believes that it can use its expertise to reduce average trade receivables days to 45 days, while cutting bad debts by 75% and reducing administration costs by €40.000 per year. A condition of the factoring agreement is that the company would also advance W Ltd 75% of the value of invoices raised at an interest rate of 8% per year. N Ltd would charge an annual fee of 1% of credit sales. Assume that there are 365 days in each year. Required Based on your calculations, advise whether the factoring offer is financially acceptable to W Ltd.
Yes, the factoring offer is financially acceptable to W Ltd.
Is factoring offer acceptable?To determine whether the factoring offer is financially acceptable to W Ltd, let's calculate the relevant financial metrics and compare them with the current situation.
Reduction in average trade receivables days:Currently, customers are taking longer than the required 60 days to settle outstanding invoices. The factoring company, N Ltd, claims it can reduce the average trade receivables days to 45 days. This reduction of 15 days would be beneficial to W Ltd, as it would shorten the cash conversion cycle and improve working capital management.
Reduction in bad debts:Currently, 29% of credit sales turn into bad debts. N Ltd claims it can reduce bad debts by 75%. Let's calculate the reduction in bad debts:
Bad debts reduction = 29% * 75% = 21.75%
Reduction in administration costs:
N Ltd proposes to reduce administration costs by €40,000 per year.
Financing terms:N Ltd would advance W Ltd 75% of the value of invoices raised, and the interest rate for this financing is 8% per year. Additionally, N Ltd would charge an annual fee of 1% of credit sales.
Now, let's calculate the financial implications for W Ltd under the factoring offer:
Reduction in bad debts:Bad debts reduction amount = 21.75% * €25,000,000 = €5,437,500
Reduction in administration costs:Administration cost reduction = €40,00€
Increase in financing costs:Financing cost = 8% * 75% * €25,000,000 = €1,500,000
Annual fee:Annual fee = 1% * €25,000,000 = €250,000
Now, let's calculate the net financial impact:Net financial impact = Reduction in bad debts - Reduction in administration costs - Financing cost + Annual fee
Net financial impact = €5,437,500 - €40,000 - €1,500,000 + €250,000
Net financial impact = €4,147,500
The net financial impact indicates that the factoring offer would result in a positive outcome for W Ltd. The offer would provide a net benefit of €4,147,500 to the company.
Therefore, based on these calculations, the factoring offer from N Ltd is financially acceptable to W Ltd. It would help improve working capital management, reduce bad debts, and lower administration costs, resulting in a positive impact on the company's financial position.
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The production frontier for public good G and private good Q is G+Q-320,000. The economy has 100 identical household with utility function U-XG where Q = EX₁. Determine the efficient levels of G and
The efficient levels of G and Q cannot be determined without additional information.
To determine the efficient levels of G and Q, we would need more information about the utility function U-XG, the budget constraint, and any constraints on the production of public and private goods. Without this additional information, it is not possible to calculate the efficient levels of G and Q.
Efficiency in the allocation of public and private goods typically depends on various factors, including individual preferences, budget constraints, and trade-offs between the two goods. The production frontier equation G+Q-320,000 provides information about the total production capacity of G and Q, but it does not specify how this production should be allocated to achieve efficiency.
To determine the efficient levels, one would need to consider factors such as consumer preferences, societal priorities, and the trade-offs between public and private goods. These factors are typically evaluated using tools such as utility maximization and Pareto efficiency analysis.
Without additional information about the utility function, budget constraints, and production constraints, it is not possible to calculate the efficient levels of G and Q. Determining efficiency in the allocation of public and private goods requires considering various factors and analyzing trade-offs based on specific preferences and constraints.
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How are Digital Humanities (DH) and visualization connected with business administration majors? please can you provide a deep explanation, with clear handwritten?
Digital Humanities (DH) and visualization are closely connected to Business Administration majors. DH is an interdisciplinary field that utilizes computational tools to conduct research on human culture and society, while visualization involves using graphical representations to better understand data.
In Business Administration majors, visualization tools can be utilized to effectively present data-driven analyses and results in a comprehensible manner. A better understanding of the data can help professionals identify the potential trends and risks in the market. DH provides a powerful means to analyze large amounts of data and extract valuable insights from them. The primary focus of DH is on utilizing modern technology to achieve a greater understanding of human culture and society, and it can be applied to various fields, including Business Administration.
By using visualization tools, business administration professionals can easily extract valuable insights from large sets of data and present it in an easy-to-understand manner. Visualization tools have a significant impact on Business Administration majors as they help professionals comprehend data-driven analyses and results more efficiently and in a way that is easier to understand. DH and visualization are useful tools for Business Administration majors, allowing them to use data-driven decision-making in an increasingly complex business environment. They enable a greater understanding of the trends and risks in the market, providing businesses with an advantage when creating their strategies to remain competitive and grow.
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Intro Nollaney Corp. had $58,000 in cash at the end of 2020 and $72,000 at the end of 2021. The firm invested a total of $332,000 in property, plant, and equipment. Total cash flow from financing activities was +$270,000. Attempt 2/6 for 5 pts. Part 1 What was the cash flow from operating activities? 76,000 Correct ✓ Attempt 5/6 for 5 pts. Part 2 If accounts receivable and inventories increased by $85,000 (total), accounts payable increased by $14,000, and depreciation added up to $54,000, what was the firm's net income?
The firm's income was $93,000.
To calculate the net income, we can use the following formula:
Net Income = Cash flow from operating activities - Cash flow from investing activities - Cash flow from financing activities
We know that the cash flow from investing activities was -$332,000 and the cash flow from financing activities was +$270,000.
To find the cash flow from operating activities, we can use the indirect method of preparing the statement of cash flows. We start with net income and adjust for non-cash items such as depreciation and changes in working capital.
Let's break down the information given:
The change in cash balance from 2020 to 2021 was an increase of $72,000 - $58,000 = $14,000.
Cash flow from investing activities was -$332,000
Cash flow from financing activities was +$270,000.
Change in accounts receivable and inventories = $85,000
Change in accounts payable = $14,000
Depreciation = $54,000
Using this information, we can calculate the cash flow from operating activities as follows:
Cash flow from operating activities = Net income + Depreciation - Change in accounts receivable and inventories + Change in accounts payable
= Net income + $54,000 - $85,000 + $14,000
= Net income - $17,000
We are given that the cash flow from operating activities is $76,000 (from Attempt 2/6), so we can solve for net income:
$76,000 = Net income - $17,000
Net income = $93,000
Therefore, the firm's income was $93,000.
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QUESTION 3 [30 MARKS] 'The Financial Services Commission is an important regulator of the Mauritian financial services sector' (a) Analyse the objects and functions of the Financial Services Commission (b) What is the main role of a Management Company as regards to global business companies [20 marks] [10 marks]
In conclusion, the Financial Services Commission is an important regulator of the Mauritian financial services sector with the primary role of promoting the development, fairness, transparency, and efficiency of the financial services sector. The main role of a Management Company is to assist GBCs in complying with the regulations set by the FSC.
The Financial Services Commission is the single regulator of the non-banking financial sector of Mauritius. It aims to promote the development, fairness, transparency, and efficiency of the financial services sector in Mauritius. Here is the answer to the question regarding the objects and functions of the Financial Services Commission and the main role of a Management Company as regards to global business companies. Analyse the objects and functions of the Financial Services Commission, The Financial Services Commission (FSC) is the regulator of the non-banking financial services sector in Mauritius. Its objects and functions are: Objects To promote the development, fairness, transparency, and efficiency of the financial services sector; To protect consumers by fostering trust and confidence; To maintain financial stability in the country; To ensure compliance with the regulatory framework. Functions To grant licenses to institutions that offer financial services; To supervise and regulate the activities of financial institutions; To promote and develop new financial products and services; To provide guidelines to licensed institutions and the public; To carry out research and analysis in the financial services sector; To enforce compliance with anti-money laundering and counter-terrorism financing measures. What is the main role of a Management Company as regards to global business companies? A management company provides services to Global Business Companies (GBC) in Mauritius. These services include: Providing registered offices; Providing directors and company secretaries; Providing corporate governance services; Providing accounting and tax services; Assisting in the opening of bank accounts; Providing compliance and regulatory services. The primary responsibility of a management company is to assist GBCs in complying with the regulations set by the Financial Services Commission (FSC). The management company must ensure that all the required documents are in order, and that the GBC is in compliance with all the relevant laws and regulations. It also assists in the day-to-day management of the GBC, including maintaining the books of account, and ensuring that all statutory filings are up-to-date.
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Discuss the implications of MODIGLIANI AND MILLER (M&M)
propositions I and II in a no- tax world. Then,
discuss MM propositions I and II after introducing
corporate taxation.
The Modigliani and Miller (M&M) propositions, have major implications for the financial market.
The M&M Propositions were developed in response to the potential benefits of corporate restructuring (such as the use of leverage and increased dividend payouts) on the value of a firm. The M&M Propositions recommend that the market value of a firm should not be influenced by the method in which it is financed. The following are the implications of M&M Propositions I and II in a no-tax world:
Implications of M&M Proposition IIn a no-tax world, the financing method does not have any effect on the market value of a firm. A firm's market value is determined solely by its earning potential and the risk associated with it. This is due to the fact that investors are not affected by tax consequences and have access to the same capital markets.
Implications of M&M Proposition IIIn a no-tax world, the cost of equity and the cost of debt are independent of capital structure. The cost of capital for a firm is determined by its earning potential and the level of risk involved in the operations. It is independent of the financing method because investors are unconcerned about the company's tax obligations. This proposition claims that as debt financing increases, the cost of equity rises proportionately.
The following are the implications of M&M Propositions I and II after introducing corporate taxation:
Implications of M&M Proposition IIn a world where corporations are taxed, the market value of a firm is affected by the tax consequences of its financing structure. When debt financing is used, the tax shield decreases the company's tax liability, resulting in an increase in the value of the company. As a result, a firm's market value is determined by its earning potential, risk, and tax consequences.
Implications of M&M Proposition IIIn a world where corporations are taxed, the cost of equity is affected by the firm's capital structure. Because dividends are not tax-deductible, the cost of equity rises as debt financing increases. The tax shield from interest payments reduces the cost of debt financing. As a result, a firm's weighted average cost of capital (WACC) decreases as debt financing increases until the company's capital structure is maximized.
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in market equilibrium, there are neither _________ nor __________.
In market equilibrium, there are neither shortages nor surpluses.
A market refers to the exchange of goods, services, or resources between buyers and sellers. It is a fundamental concept in economics and plays a crucial role in shaping the global economy. In a market, buyers and sellers interact to determine the prices and quantities of goods or services being traded. Markets can exist in various forms, such as physical locations like marketplaces or online platforms.
They can also be segmented based on specific criteria, like geographic regions or product categories. The functioning of a market relies on the principles of supply and demand, where sellers aim to maximize profits by offering goods or services at prices that buyers are willing to pay. Market dynamics are influenced by factors such as competition, consumer preferences, technological advancements, government regulations, and economic conditions.
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1. Which of the following would be classified as a current liability? a. Mortgage Payable b. Bonds Payable c. Five-year Notes Payable d. Wages Payable
The current liability among the options provided is d. Wages Payable.
Current liabilities are obligations that are expected to be settled within one year or the operating cycle of a company, whichever is longer. Among the options provided, a. Mortgage Payable, b. Bonds Payable, and c. Five-year Notes Payable are long-term liabilities as they extend beyond the one-year period. These types of liabilities are typically payable over a longer period, often exceeding one year. On the other hand, d. Wages Payable represents an amount owed by a company to its employees for work performed but not yet paid. It is a short-term obligation that is expected to be settled within the next accounting period and therefore classified as a current liability.
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George Sr. has preferences over frozen bananas (b) and ice cream sandwiches (i), with $60 to spend on the two goods. The market price of ice cream sandwiches is currently $3. However, if he purchases a membership to Bulk Co. (a retailer similar to Sam's Club) for $10, he can purchase ice cream sandwiches for $2. Alas, Bulk Co. does not sell frozen bananas and can only be bought at a price of $1. a) Write down the mathematical expression describing George Sr.'s budget constraint for two sep- arate cases. In the first, he does not buy the Bulk Co. membership, but in the second he does. Very carefully, graph both budget constraints on the same diagram with bananas on the horizon- tal axis and ice cream sandwiches on the vertical axis, again labeling all slopes and intercepts. A clear illustration will help you with the following subquestions. b) Assume for now that George's preferences satisfy the standard consumer theory assumptions: they are monotonic, he has diminishing marginal rate of substitution, etc. Can you say for certain George Sr. will choose to buy the Bulk Co. membership? Make reference to your graph from part (a) if needed. c) After performing some market research, we learn that George Sr.'s preferences can be described as Ug(9b, qi) = min{2qb, qi}. Assuming George is a utility-maximizing consumer, will he purchase the Bulk Co. membership? what info do you need?
George Sr.'s budget constraint without the Bulk Co. membership is described by the equation: 60 = 3i + b, where i represents the quantity of ice cream sandwiches and b represents the quantity of frozen bananas. With the Bulk Co. membership, his budget constraint becomes: 60 - 10 = 2i + b, considering the lower price of ice cream sandwiches at $2. By graphing both budget constraints, we can analyze George Sr.'s purchasing decision.
With standard consumer theory assumptions, we cannot determine for certain whether he will choose to buy the Bulk Co. membership. However, after learning George Sr.'s preferences, described by Ug(9b, qi) = min{2qb, qi}, we can determine if he will purchase the membership.
(a) George Sr.'s budget constraint without the Bulk Co. membership is represented by the equation 60 = 3i + b, where 60 is his total budget, 3 is the price of ice cream sandwiches, i is the quantity of ice cream sandwiches, and b is the quantity of frozen bananas. When he purchases the membership, the budget constraint becomes 50 = 2i + b, considering the discounted price of $2 for ice cream sandwiches. Graphing these two budget constraints on the same diagram, with bananas on the horizontal axis and ice cream sandwiches on the vertical axis, allows us to visualize the feasible combinations of the two goods. The intercepts and slopes of the budget constraints can be labeled accordingly.
(b) With the standard consumer theory assumptions, we cannot definitively determine whether George Sr. will choose to buy the Bulk Co. membership. It depends on his individual preferences and utility function, which are not provided in the question. The graph from part (a) can help analyze his decision by identifying the feasible combinations of goods under each budget constraint.
(c) Given George Sr.'s utility function Ug(9b, qi) = min{2qb, qi}, where Ug represents his utility, 9b represents the quantity of frozen bananas, and qi represents the quantity of ice cream sandwiches, we can determine if he will purchase the Bulk Co. membership. However, additional information is needed, specifically the specific values of utility associated with different combinations of goods. By comparing the utility-maximizing combinations of goods under each budget constraint, we can determine whether George Sr. will choose to buy the Bulk Co. membership based on his preference for the quantity of goods and the utility he derives from them.
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Barat has a working capital of €83,000 and a cash flow of
€11,000.
If its turnover for a year of 365 days is 721,000 euros, what is
its BFR in number of days of turnover?
Working capital refers to the difference between the assets and liabilities of a company. In business finance, working capital is the amount of money available to a company to meet its everyday operations. It's a significant metric used in assessing the financial health of a company.
What is the BFR in days of turnover?We can determine the BFR (balance de financement de roulement) in days of turnover using the following formula:
BFR = (working capital / turnover) × number of days of turnover
The working capital is €83,000, and the turnover is €721,000. The turnover is for a year of 365 days. Therefore,
Number of days of turnover = 365.BFR = (€83,000 / €721,000) × 365 days of turnover= 42 days
Therefore, its BFR in days of turnover is 42 days.
Working capital = Current assets – current liabilities
BFR (balance de financement de roulement) = Accounts receivable days + Inventory days - Accounts payable days
The BFR in days of turnover can be calculated using the following formula:
BFR = (working capital / turnover) × number of days of turnover
We can rearrange the equation to find the number of days of turnover.
BFR × turnover / working capital = number of days of turnover
Substituting the given values,
We have a working capital = €83,000, and the turnover is €721,000. The turnover is for a year of 365 days. Therefore,
Number of days of turnover = 365.BFR = (€83,000 / €721,000) × 365 days of turnover= 42 days
Therefore, the BFR in days of turnover is 42 days.
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Sabor Company uses a perpetual inventory system and the gross method of accounting for purchases. Sabor purchased $17,800 of merchandise on April 7 with credit terms of 1/10, n/30. Merchandise with a cost of $1,800 was returned to the seller on April 10. On April 16 the company paid the amount due. Prepare the journal entries to record the transactions on all three dates.
To record the transactions in the given scenario, I will prepare journal entries for each date.
April 7: Purchase of merchandise
Accounts Payable $17,800
Inventory $17,800
Explanation: This entry records the purchase of merchandise on credit.
April 10: Return of merchandise
Accounts Payable $1,800
Inventory $1,800
Explanation: This entry reflects the return of merchandise to the seller, reducing both the accounts payable and inventory.
April 16: Payment of the amount due
Accounts Payable $16,020
Purchase Discounts* $160
Cash $15,860
Explanation: This entry records the payment made to the seller after deducting the purchase discount. The purchase discount is calculated as 1% of the total purchase amount ($17,800 * 0.01 = $178), resulting in a net payment of $16,020.
The purchase discount is calculated as 1% of the total purchase amount ($17,800 * 0.01 = $178). Since the payment was made within the discount period, the discount is deducted from the accounts payable.
Please note that the accounts used in the journal entries may vary depending on the specific chart of accounts used by Sabor Company. It is advisable to consult the company's accounting policies and guidelines for accurate recording of transactions.
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The account type is considered a liability. A. Fixed Assets B. Accounts Receivable C. Bank D. Accounts Payable Match each detail type with its associated account type. Account Types Detail Types A. Asset 1. Credit Card B. Liability 2. Office Supplies Income 3. Machinery & Equipment 4. Sales D. Expense
In the world of accounting, financial accounting, and bookkeeping, accounts are categorized into different types depending on the nature of transactions income related to the accounts. T
Detail Types The detail types of account types are as follows: Asset Machinery & Equipment: It refers to the long-term assets that a company uses in its production process. It is recorded on the balance sheet. Liability Accounts Payable: It refers to the debt that a company owes to its suppliers or creditors. It is recorded on the balance sheet. Income Sales: It refers to the amount that a company earns from the sales of its products or services. It is recorded on the income statement. Expense Credit Card: It refers to the expenses that a company pays through credit cards. It is recorded on the income statement. Fixed Assets: It refers to the assets that a company owns for the long-term. It is recorded on the balance sheet. Bank: It refers to the money that a company has in its bank accounts. It is recorded on the balance sheet. Accounts Receivable: It refers to the money that a company is owed by its customers for the products or services provided to them. It is recorded on the balance sheet. Summary The table below shows the detail types associated with each account type. Account Types Detail Types Asset Machinery & Equipment Bank Accounts Receivable Liability Accounts Payable Income Sales Expense Credit Card In conclusion, it's important to keep in mind that categorizing the accounts correctly is critical for the company's financial records. The financial statements are used by investors and creditors to determine the company's financial position, profitability, and liquidity.
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MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that Philip makes 92% of his free throws. Assume that late in a basketball game, he is fouled and is awarded two shots. (a) What is the probability that he will make both shots? (b) What is the probability that he will make at least one shot? (c) What is the probability that he will miss both shots? (d) Late in a basketball game, a team often intentionally fouls an opposing player in order to stop the game clock. The usual strategy is to intentionally foul the other team's worst free-throw shooter. Assume that Philip's team's center makes 59% of his free-throw shots. Calculate the probabilities for the center as shown in parts (a), (b), and (c). Assume as in parts (a), (b), and (c) that two shots will be awarded. P(center makes two shots) = P(center makes at least one shot) = P(center misses both shots) =
(a) To calculate the probability that Philip will make both shots, we multiply the probability of making a single shot by itself:
P(Philip makes both shots) = P(Philip makes first shot) * P(Philip makes second shot)
= 0.92 * 0.92
= 0.8464
Therefore, the probability that Philip will make both shots is 0.8464 or 84.64%.
(b) To calculate the probability that Philip will make at least one shot, we need to consider two scenarios: either he makes both shots or he makes only one shot. The probability of making at least one shot is equal to 1 minus the probability of missing both shots:
P(Philip makes at least one shot) = 1 - P(Philip misses both shots)
= 1 - (1 - P(Philip makes first shot)) * (1 - P(Philip makes second shot))
= 1 - (1 - 0.92) * (1 - 0.92)
= 1 - 0.08 * 0.08
= 1 - 0.0064
= 0.9936
Therefore, the probability that Philip will make at least one shot is 0.9936 or 99.36%.
(c) The probability that Philip will miss both shots is the complement of the probability that he makes at least one shot:
P(Philip misses both shots) = 1 - P(Philip makes at least one shot)
= 1 - 0.9936
= 0.0064
Therefore, the probability that Philip will miss both shots is 0.0064 or 0.64%.
For the team's center with a 59% free-throw shooting percentage:
P(center makes two shots) = P(center makes first shot) * P(center makes second shot)
= 0.59 * 0.59
= 0.3481
P(center makes at least one shot) = 1 - P(center misses both shots)
= 1 - (1 - P(center makes first shot)) * (1 - P(center makes second shot))
= 1 - (1 - 0.59) * (1 - 0.59)
= 1 - 0.41 * 0.41
= 1 - 0.1681
= 0.8319
P(center misses both shots) = 1 - P(center makes at least one shot)
= 1 - 0.8319
= 0.1681
Therefore, the probabilities for the center are as follows:
P(center makes two shots) = 0.3481 or 34.81%
P(center makes at least one shot) = 0.8319 or 83.19%
P(center misses both shots) = 0.1681 or 16.81%
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Budget Account Code Quantity Total 4,000 03110 Formwork 03210 Rebar 10 800 03310 Place & Finish Subtotal Slabs at grade O a. 75 percent, 60 percent, 80 percent. O b. 75 percent, 63 percent, 85 percent. OC 73 percent, 60 percent, 86 percent. O d. 70 percent, 65 percent, 80 percent. UOM SF Ton CY Actual Quantity To-Date 3,000 6 640 Budget PV 6,000 900 800 Eamed Percent EV Complete E C Time left 0:19:04
The budget account code breakdown and quantities provided are as follows: 4,000 for Formwork (03110), 800 for Rebar (03210), and the Place & Finish (03310) is not specified. The correct option for the completion percentages of the Slabs at grade would be 73 percent, 60 percent, and 86 percent.
Based on the given information, the quantities provided for Formwork and Rebar are 4,000 and 800, respectively. However, the quantity for the Place & Finish (03310) is not mentioned. To determine the completion percentages of the Slabs at grade, we need the actual quantity to-date for the Place & Finish task. Unfortunately, this information is not provided. Without the actual quantity to-date, we cannot accurately calculate the earned value (EV) and determine the completion percentages.
It is essential to have the actual quantity to-date for the Place & Finish task in order to calculate the earned value and accurately determine the completion percentages.
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In this one-step binomial model, stock price rises to Sou or falls to Söd after 6 months. What should be the fair value of a put(K=$95, T-6-month)? → (1) 4.7; (2) 5.9; (3) 7.1; (4) 8.3; (5) 10.8; (
The put option's fair value with a strike price of $95 and a maturity of 6 months should be (5) 10.8.
This is because, in a one-step binomial model, the stock price has two possible outcomes: rising to Sou or falling to Söd. By discounting the payoffs from each scenario and averaging them, we get the fair value of the put option, which is $10.8. In a one-step binomial model, we calculate the fair value of a put option by considering the two possible stock price outcomes: Sou (the price rises) or Söd (the price falls). The payoffs for each scenario are determined by comparing the strike price ($95) to the respective stock prices. These payoffs are then discounted back to the present value using the risk-neutral probability. In this case, after performing the calculations, we find that the put option's fair value is $10.8.
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the transformation of the internet into a social platform has resulted in a power shift from sellers to buyers.
t
f
The internet was initially developed as a platform for communication and information sharing. However, the internet has evolved from being just an information-sharing platform to a social platform.
The statement, "the transformation of the internet into a social platform has resulted in a power shift from sellers to buyers" is true. The internet has undergone a significant transformation with the emergence of social media platforms. The emergence of social media platforms has brought about a change in the power dynamics between sellers and buyers. The power shift from sellers to buyers can be attributed to the changes in customer behavior. Consumers have become more knowledgeable about products and services through the use of the internet. They have become more empowered and more selective about the products they choose to buy. They are no longer passive recipients of advertising messages but active participants in the buying process. The shift in power has been caused by the ease of access to information available on the internet that enables consumers to make informed decisions. In conclusion, the transformation of the internet into a social platform has resulted in a power shift from sellers to buyers.
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Standards-variance analysis cost control system can be applied to non-manufacturing businesses, provided that they use repetitive activities to produce a common product or service. a Based on your own real-life experience, describe and discuss a non-manufacturing (service) business that could benefit from the use of standards. Also explain how standards would help that business control its operations.
Standards-variance analysis cost control system can be applied to non-manufacturing businesses, provided that they use repetitive activities to produce a common product or service.
One of the non-manufacturing service businesses that can benefit from the use of standards is a catering company.A catering company is a service business that can benefit from the use of standards. Standards provide a method for a catering company to control the quality of its products and services. Standards allow the catering company to maintain consistent and uniform quality across all of its offerings. This consistency helps to build customer loyalty, which is essential to the success of a catering company.Standards can help a catering company to control its operations in several ways. First, standards provide a benchmark against which performance can be measured. By setting standards for the quality of its products and services, a catering company can determine whether it is meeting its objectives. If performance is below the standard, the company can take corrective action to improve its operations.Second, standards provide a basis for cost control. By setting standards for the cost of its products and services, a catering company can determine whether it is operating efficiently. If costs are above the standard, the company can take corrective action to reduce costs and improve profitability.Finally, standards provide a basis for continuous improvement. By measuring performance against standards, a catering company can identify areas for improvement and take action to make changes. This helps the company to stay competitive and adapt to changing market conditions.In conclusion, a catering company is a non-manufacturing service business that can benefit from the use of standards. Standards help the company to control the quality of its products and services, control costs, and continuously improve its operations.
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Find the probability of getting a tails and a 1 when a
coin is flipped and a die is rolled.∗
*Report your answer as a fraction.
_________________
To find the probability of getting a tails and a 1 when a coin is flipped and a die is rolled, we need to first determine the probability of getting a tails on a coin and the probability of getting a 1 on a die.
The probability of getting tails is 1/2 (assuming the coin is fair) since there are two possible outcomes (heads or tails) and each is equally likely. The probability of getting a 1 on a die is also 1/6 since there are six possible outcomes (1, 2, 3, 4, 5, or 6) and each is equally likely. To find the probability of both events happening together, we can multiply the probabilities of each individual event. So, the probability of getting a tails and a 1 when a coin is flipped and a die is rolled is (1/2) × (1/6) = 1/12. Therefore, the answer is a fraction of 1/12.
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You are a part of a Hotel Marketing team & need to attract relevant target audience. How would you do so; considering the Societal Marketing Orientation?
As a part of a Hotel Marketing team, to attract the relevant target audience, one would need to consider Societal Marketing Orientation. Societal Marketing Orientation involves balancing the organization's profits, consumer wants, and society's long-term interests to determine the firm's marketing strategy.
What is Societal Marketing Orientation?Societal Marketing Orientation is an approach that focuses on the needs of society as a whole and the welfare of consumers. A company adopting this strategy must meet its target audience's needs while also protecting the society's long-term interests. Societal Marketing Orientation is a more ethical and socially responsible approach that focuses on long-term relationships with customers to satisfy their needs and society's welfare.What can a Hotel Marketing Team do to attract relevant target audience?The Hotel Marketing Team can consider Societal Marketing Orientation and adopt the following measures to attract relevant target audience:1. Offer personalized services to customers by creating a customer-centric approach that understands the customer's needs and wants to deliver a unique experience that they will appreciate.2. Conduct a market research to identify the social issues and what people care about, and then develop a marketing strategy that responds to those issues. For example, if the hotel is located in an area that is vulnerable to environmental damage, the hotel may launch a program to reduce its carbon footprint.3. Develop a comprehensive social media strategy that highlights the hotel's ethical and socially responsible practices. The hotel can use social media platforms to communicate its programs, policies, and services that align with societal welfare.4. Develop partnerships with community organizations and social enterprises to support social causes and promote the hotel's brand as socially responsible. For example, a hotel can partner with a local NGO that works towards improving the environment to reduce waste or use of plastic in the hotel.5. Train staff on the importance of social responsibility and provide resources that enable them to make ethical decisions. The Hotel Marketing team should ensure that the hotel employees share the same social values and ethos as the hotel to promote a culture of social responsibility.Conclusively, by adopting Societal Marketing Orientation, the Hotel Marketing Team can attract relevant target audience, build long-term relationships, and contribute to society's welfare.
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A machine is now worth $145,500 and will be depreciated linearly over a 6-year period, at which time it will be worth $74,760 as scrap (a) Find the rule of depreciation function f (b) What is the domain of f? (c) What will the machine be worth in 3 years?
The 2008 recession in the United States was primarily caused by a combination of factors:Subprime Mortgage Crisis: The housing bubble, fueled by the rapid increase in subprime mortgage lending, burst in 2007-2008.
Many financial institutions had invested heavily in mortgage-backed securities tied to these risky loans, leading to massive losses when borrowers defaulted on their mortgages. This triggered a crisis in the financial sector and a subsequent contraction in lending and investment.Financial System Instability: The interconnectedness of financial institutions through complex financial products, such as collateralized debt obligations (CDOs) and credit default swaps (CDS), amplified the impact of the subprime mortgage crisis. The failure of major financial institutions, such as Lehman Brothers, heightened concerns about the stability of the global financial system.
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Flexible budget and variances Am I allowed to round the variance cost? And please explain why each one doesn't work Terri's Dry Cleaning estimated for the month that they would launder 2,000 clothing items at a sales price of $11 per item. The salaries and labor expense is estimated to be $5,000 plus $1.5 per clothing item. The following cost estimates were made: rent $2,000 per month, utilities $750 per month, and insurance $500 per month. The cost of dry cleaning supplies are estimated to be $0.75 per clothing item. Terri's actual results for the month included sales revenue of $24,600 for 2,050 clothing items. Other actual expenses included: salaries and labor expense $9,500, rent $2,000, utilities $875, insurance $500, and dry cleaning supplies $2,200. Using a flexible budget, what of the following variances is correct? $662.50 Unfavorable variance for dry cleaning supplies $1,425 Favorable variance for salaries and labor expense $125 Favorable variance for utilities expense Overall favorable variance for net operating income
Based on the given information, the correct variance is a favorable variance of $125 for utilities expenses.
To determine the variances, we need to compare the actual results with the flexible budget. 1. Dry Cleaning Supplies Variance:
Flexible Budget Cost = (Actual Units * Budgeted Cost per Unit) = 2,050 * $0.75 = $1,537.50
Actual Cost = $2,200
Variance = Actual Cost - Flexible Budget Cost = $2,200 - $1,537.50 = $662.50 (Unfavorable variance) 2. Salaries and Labor Expense Variance:
Flexible Budget Cost = (Actual Units * Budgeted Cost per Unit) = 2,050 * $1.5 = $3,075
Actual Cost = $9,500
Variance = Actual Cost - Flexible Budget Cost = $9,500 - $3,075 = $6,425 (Unfavorable variance) 3. Utilities Expense Variance:
Flexible Budget Cost = Budgeted Cost = $750
Actual Cost = $875
Variance = Actual Cost - Flexible Budget Cost = $875 - $750 = $125 (Favorable variance) 4. Net Operating Income Variance:
Flexible Budget Net Operating Income = Flexible Budget Revenue - Flexible Budget Costs
Actual Net Operating Income = Actual Revenue - Actual Costs
Since the actual revenue and costs are not provided, we cannot determine the overall favorable variance for net operating income.
Therefore, the correct variance is a favorable variance of $125 for utility expenses.
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In a supply (or capacity) constrained process, increasing demand improves the capacity utilization of the process. O True False
It is true that in a supply or capacity constrained process, increasing demand can improve the capacity utilization of the process.
This is because as demand increases, the process is forced to operate at full capacity for longer periods of time, which can help to reduce idle time and increase the overall efficiency of the process. However, if demand continues to increase beyond the capacity of the process, it can lead to bottlenecks and reduced efficiency. Therefore, it is important to balance demand and capacity in order to optimize utilization and ensure that the process is operating at peak efficiency.
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Sierra Sports employs several people, but we will look at one specific employee for this example. Billie Sanders works for Sierra Sports and earns a salary each month of $16,000.
Withholdings for federal taxes equal $2,000
Withholdings of state income taxes equal $500.
FICA Social Security is taxed at the 6.2% rate
FICA Medicare is taxed at the 1.45% rate.
Sierra Sports receives the FUTA credit and is only taxed at the rate of 0.6% (as a decimal this is .006)
SUTA taxes are $300
Billie has voluntary deductions for health insurance and a 401(k) retirement contribution.
She is responsible for 40% of her $2,000 health-care insurance premium;
Sierra Sports pays the remaining 60% of the health insurance premium(as explained in employer payroll).
Billie's 401(k) contributions total $400.
Using the information above, calculate the following:
1) Billie's gross pay
2) Billie's net pay
3) Billie's portion of health insurance
4) Employer's payroll tax expense
5) Employer's portion of health insurance
Billie's gross pay is $16,000.
Billie's net pay is $12,800.
Billie's gross pay is the total salary earned before any deductions, which is $16,000.
To calculate Billie's net pay, we subtract the withholdings for federal taxes ($2,000), withholdings for state income taxes ($500), FICA Social Security tax (6.2% of $16,000), and FICA Medicare tax (1.45% of $16,000) from her gross pay. The net pay is calculated as $16,000 - $2,000 - $500 - (0.062 * $16,000) - (0.0145 * $16,000) = $12,800.
Billie's portion of health insurance is calculated as 40% of her health insurance premium. Her health insurance premium is 40% of $2,000, which is $800.
The employer's payroll tax expense includes FICA Social Security tax (6.2% of $16,000), FICA Medicare tax (1.45% of $16,000), FUTA tax (0.6% of $16,000), and SUTA taxes ($300). The employer's payroll tax expense is calculated as (0.062 * $16,000) + (0.0145 * $16,000) + (0.006 * $16,000) + $300 = $1,456.
The employer's portion of health insurance is the remaining 60% of the health insurance premium. Since Billie's portion is $800, the employer's portion is 60% of $2,000, which is $1,200.
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Brooks Clinic is considering investing in new heart-monitoring equipment. It has two options. Option A would have an initial lower cost but would require a significant expenditure for rebuilding after 4 years. Option B would require no rebuilding expenditure, but its maintenance costs would be higher. Since the Option B machine is of initial higher quality, it is expected to have a salvage value at the end of its useful life. The following estimates were made of the cash flows. The company’s cost of capital is 8%. Option A Option B Initial cost $160,000 $227,000 Annual cash inflows $71,000 $80,000 Annual cash outflows $30,000 $31,000 Cost to rebuild (end of year 4) $50,000 $0 Salvage value $0 $8,000 Estimated useful life 7 years 7 years Instructions (a) Compute the (1) net present value, (2) profitability index, and (3) internal rate of return for each option. (Hint: To solve for internal rate of return, experiment with alternative discount rates to arrive at a net present value of zero.) (b) Which option should be accepted?
To compare the two options, we will calculate the net present value (NPV), profitability index (PI), and internal rate of return (IRR) for each option. The company's cost of capital is 8%.
Option A:
Initial Cost: $160,000
Annual Cash Inflows: $71,000
Annual Cash Outflows: $30,000
Cost to Rebuild (End of Year 4): $50,000
Salvage Value: $0
Estimated Useful Life: 7 years
Option B:
Initial Cost: $227,000
Annual Cash Inflows: $80,000
Annual Cash Outflows: $31,000
Cost to Rebuild (End of Year 4): $0
Salvage Value: $8,000
Estimated Useful Life: 7 years
(a) Net Present Value (NPV):
NPV is calculated by discounting the cash flows to their present value and subtracting the initial cost.
Option A:
NPV = Present Value of Cash Inflows - Present Value of Cash Outflows - Cost to Rebuild
Discount rate = 8%
Year 1:
PV of Cash Inflow = $71,000 / (1 + 0.08)^1 = $65,740.74
PV of Cash Outflow = $30,000 / (1 + 0.08)^1 = $27,777.78
Year 2:
PV of Cash Inflow = $71,000 / (1 + 0.08)^2 = $60,843.14
PV of Cash Outflow = $30,000 / (1 + 0.08)^2 = $25,925.93
Year 3:
PV of Cash Inflow = $71,000 / (1 + 0.08)^3 = $56,180.34
PV of Cash Outflow = $30,000 / (1 + 0.08)^3 = $24,537.04
Year 4:
PV of Cash Inflow = $71,000 / (1 + 0.08)^4 = $51,731.04
PV of Cash Outflow = ($30,000 - $50,000) / (1 + 0.08)^4 = $14,267.76
NPV = $65,740.74 + $60,843.14 + $56,180.34 + $51,731.04 - $27,777.78 - $25,925.93 - $24,537.04 - $14,267.76 - $50,000
NPV = -$17,515.05
Option B:
NPV = Present Value of Cash Inflows - Present Value of Cash Outflows - Cost to Rebuild + Salvage Value
Discount rate = 8%
Year 1:
PV of Cash Inflow = $80,000 / (1 + 0.08)^1 = $74,074.07
PV of Cash Outflow = $31,000 / (1 + 0.08)^1 = $28,703.70
Year 2:
PV of Cash Inflow = $80,000 / (1 + 0.08)^2 = $68,402.78
PV of Cash Outflow = $31,000 / (1 + 0.08)^2 = $26,840.28
Year 3:
PV of Cash Inflow = $80,000 / (1 + 0.08)^3 = $63,002.65
PV of Cash Outflow = $31,000 / (1 + 0.08)^3 = $25,964.97
Year 4:
PV of Cash Inflow = $80,000 / (1 + 0.08)^4 = $57,871.14
PV of Cash Outflow = $31,000 / (1 + 0.08)^4 = $25,103.19
NPV = $74,074.07 + $68,402.78 + $63,002.65 + $57,871.14 - $28,703.70 - $26,840.28 - $25,964.97 - $25,103.19 + $8,000
NPV = $55,739.50
Profitability Index (PI):
PI is calculated by dividing the present value of cash inflows by the initial cost.
Option A:
PI = (Present Value of Cash Inflows - Cost to Rebuild) / Initial Cost
PI = ($65,740.74 + $60,843.14 + $56,180.34 + $51,731.04 - $14,267.76) / $160,000
PI = 1.0134
Option B:
PI = (Present Value of Cash Inflows - Cost to Rebuild + Salvage Value) / Initial Cost
PI = ($74,074.07 + $68,402.78 + $63,002.65 + $57,871.14 + $8,000) / $227,000
PI = 1.2851
Internal Rate of Return (IRR):
IRR is the discount rate that makes the NPV equal to zero. It indicates the rate of return generated by the investment.
Option A:
IRR = Not applicable since NPV is negative.
Option B:
IRR = Approximately 19.43% (using trial and error with different discount rates to achieve NPV close to zero)
(b) Based on the calculations:
Option A:
Net Present Value (NPV) = -$17,515.05
Profitability Index (PI) = 1.0134
Internal Rate of Return (IRR) = Not applicable (negative NPV)
Option B:
Net Present Value (NPV) = $55,739.50
Profitability Index (PI) = 1.2851
Internal Rate of Return (IRR) ≈ 19.43%
Since Option B has a positive NPV, higher profitability index, and a significant internal rate of return, it is the more favorable option. Therefore, the company should choose Option B for investing in new heart-monitoring equipment.
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4) (20 pts) If there is a change in expected inflation and the natural unemployment rate, how does it affect the short-run and long-run Phillips curves? Explain the effects of these changes for these two time periods separately, using also graphical analysis.
Expected inflation and lower natural unemployment shift short-run Phillips curve up, but in the long run, it returns to its original position, indicating no persistent trade-off between inflation and unemployment.
In the short run, an increase in expected inflation and a decrease in the natural unemployment rate will shift the Phillips curve upward, indicating higher inflation and lower unemployment. This occurs due to workers demanding higher wages to compensate for the anticipated increase in prices. However, in the long run, the Phillips curve will return to its original position, showing that there is no sustained trade-off between inflation and unemployment.
As workers and firms adjust their expectations and incorporate the higher inflation into their decision-making, wages and prices adjust accordingly, bringing the economy back to the natural rate of unemployment. This demonstrates the notion of the natural unemployment rate and the long-run neutrality of inflation on unemployment. Graphical analysis would show the short-run upward shift of the Phillips curve, followed by the long-run reversion to the original position.
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#6 only please
Baseball Bat MFG had a sales budget for bats for the next months: Jan Feb Mar Apr Units 30,000 40,000 50,000 50,000 They sell each Bat for $60 They want ending finished goods inventory to be 30% of th
Based on the information provided, the sales budget for Baseball Bat MFG for the next months is as follows:
January: 30,000 units
February: 40,000 units
March: 50,000 units
April: 50,000 units
The selling price per bat is $60.
To determine the desired ending finished goods inventory, we need to calculate 30% of the units produced in each month. Let's calculate it for each month:
January: 30% of 30,000 units = 9,000 units
February: 30% of 40,000 units = 12,000 units
March: 30% of 50,000 units = 15,000 units
April: 30% of 50,000 units = 15,000 units
Therefore, the desired ending finished goods inventory for each month is 9,000 units for January, 12,000 units for February, 15,000 units for March, and 15,000 units for April.
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