The museum will earn $600 on a weekday.
What is an art museum?A structure or area designated for the exhibition of art, typically from the museum's own collection, is known as an art museum or gallery. It may be owned by the government or a private individual, and access may be open to everyone or subject to limitations.Who are executives?An executive manages operational activities for their company or organization and is typically in charge of developing policies and strategies to achieve organizational objectives. Executives frequently travel to conferences, meetings, and local, regional, national, and worldwide offices.Solution -
Adults willing to pay = 100 and their fees = $12.
Students are willing to pay = 200 and their fees = $8.
Operating cost of museum = $2,200.
To find the profit, do the following:
[tex](100 * 12) + (200 * 8) = 1200 + 1600 = 2800\\2800 - 2200 = 600[/tex]
Therefore, the museum will earn $600 on a weekday.
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A bond has an average return of 6.3 percent and a standard deviation of 3.8 percent. What range of returns would you expect to see 68 percent of the time on this security
The range would be 2.5 percent to 10.1 percent.
What is Expected return?
Expected return is an important financial concept investors use when determining where to invest their funds. Calculating the expected return of a specific investment or portfolio allows you to anticipate the profit or loss on that investment based on its historical performance.
FormulaExpected return = (return A x probability A) + (return B x probability B).
Since the bond holds that 68% of data lies within 1 standard deviation of the mean, the range will be +/- 1 standard deviation from the mean.
Expected return = (return A x probability A) + (return B x probability B)
Expected return = (6.3%-3.8%) to (6.3%+3.8%)
Expected return = 2.5 percent to 10.1 percent
Hence, The range would be 2.5 percent to 10.1 percent.
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When a pizza maker lists the price of a pizza as $10, this is an example of using money as a:
When a pizza maker lists the price of a pizza as $10, this is an example of using money as a unit of account
What is a unit of account?A unit of account is a standard numerical unit of money used for measuring goods and services.
According to the question, the price of the pizza is a unit of account because it was used to measure the price of the goods.
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Otool Incorporated is considering using stocks of an old raw material in a special project. The special project would require all 160 kilograms of the raw material that are in stock and that originally cost the company $1,936 in total. If the company were to buy new supplies of this raw material on the open market, it would cost $8 per kilogram. However, the company has no other use for this raw material and would sell it at the discounted price of $6.95 per kilogram if it were not used in the special project. The sale of the raw material would involve delivery to the purchaser at a total cost of $83 for all 160 kilograms. What is the relevant cost of the 160 kilograms of the raw material when deciding whether to proceed with the special project
The relevant cost of the 160 kilograms of the raw material when deciding whether to proceed with the special project is $1,029.
Relevant costUsing this formula
Relevant cost=(Numbers of kilogram of raw material × Discounted price per kilogram)- Delivery cost
Let plug in the formula
Relevant cost=( 160 kilograms× $6.95 per kilogram) -$83
Relevant cost=$1,112-$83
Relevant cost=$1,029
Therefore the relevant cost of the 160 kilograms of the raw material when deciding whether to proceed with the special project is $1,029.
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Explain way economic deals with allocation and efficient utilization of scarce resources only?
Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature. Hence, to utilize the resources in the optimum possible way and meet the demands of humans, the economy allocates scarce resources.
How Microeconomics allocates scarce resources?Microeconomics analyses how scarce resources are allotted efficaciously to the production of products and services. It facilitates in resolving the critical financial issues of the economic system at an individual level.
Thus, in this manner, Economics deals with the allocation and efficient utilization of scarce resources as human wants are unlimited and resources to satisfy those needs are limited in nature.
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Multiple Choice Question Tresses, Inc., which has a December 31 year end, lent $1,000 on December 1 to an employee at 6% due in 6 months. When will Tresses record Interest Revenue? It will record ______. Multiple choice question. an adjusting entry on December 31 with a debit to Interest Receivable and credit to Interest Revenue for the interest generated in December a daily entry with a debit to Interest Receivable and credit to Interest Revenue for each day's interest generated interest earned on the payment date with a debit to Cash and credit to Interest Revenue for the 6 months of interest generated
Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.
What is an Adjusting entry?Adjusting entries and journal entries used in accounting and accounting to assign income and expenditure to the period in which they actually occurred. They are often made at the end of an accounting period. Under accrual-basis accounting, the revenue recognition principle serves as the foundation for adjusting entries related to unearned and accrued revenues. Because they are done on balance day, they are occasionally referred to as balance day adjustments.Revenues and related costs are recorded in the same accounting period according to the matching concept of accrual accounting. The actual money, however, can be received or paid at a separate period.What is Interest receivable?The amount of interest that has been earned but has not yet been paid out in cash is known as interest receivable. Many organizations won't record this number because they believe it to be irrelevant.Therefore, it will record an Adjusting entry on December 31 with a debit to Interest receivable and credit to Interest Revenue for the interest generated in December.
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How does risk management differ from quality managemtn
A risk management differs from quality management because the risk management identifies areas of operational and financial loss.
What is a risk management?This refers to the layer of protection at the beginning of the process to identify hazards before production even begins.
What is quality management?This is the section involved in overseeing all activities that must be accomplished to maintain a desired level of excellence in a firm.
In conclusion, the risk management differs from quality management because the risk management identifies areas of operational and financial loss.
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At the __________ stage in the personal selling process, a salesperson's physical appearance, speech habits, personality, and even hygiene will have the greatest effect.
At the "approach stage" in the personal selling process, a salesperson's physical appearance, speech habits, personality, and even hygiene will have the greatest effect.
What is approach stage of the personal selling process?Approach refers to the salesperson meeting the prospect in person and engaging in face-to-face conversation to better understand them.
The approaches of personal selling includes-
stimuli reaction, mental processes, need fulfilment, issue resolution, and consultative methodsTherefore, the sales process' delicate and crucial stage of approach determines whether the deal will be closed or not.
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Kevin is looking at two brands of washing machines. Between water and electricity, a Brand C washer uses about $0.65 per load, and a Brand D washer uses about $0.27 per load. Kevin averages about five loads of laundry per month. After one year, how much more would the utility costs for a Brand C washer be than the utility costs for a Brand D washer
Based on the utility costs of Brand C and D, there will be a difference in utility costs at the end of the year of $22.80.
How much more would Brand C cost in utility costs?First find the utility cost for Brand C in a year:
= 0.65 x 5 x 12 months
= $39
Utility cost of Brand D:
= 0.27 x 5 x 12 months
= $16.20
The difference would be:
= 39 - 16.20
= $22.80
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suppose a worker quits her job in order to look for new work. after a week or two of looking, she finds a new job. during her brief job search, she experienced _____.
Suppose a worker quits her job in order to look for new work. after a week or two of looking, she finds a new job. during her brief job search, she experienced frictional unemployment
What is frictional UnemploymentFrictional unemployment occurs when an individual is temporarily unemployed as a result of searching for new or better job.
This is a time of transition usually from an existing job to a new one.
Therefore, Suppose a worker quits her job in order to look for new work. after a week or two of looking, she finds a new job. during her brief job search, she experienced frictional unemployment
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Sheridan Company budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2021 to June 30, 2022: June 30, 2022 June 30, 2021 Raw Materials 3000 kilos 2000 kilos Three kilos of raw materials are needed to produce each unit of finished product. If Sheridan Company plans to produce 480000 units during the 2021-2022 fiscal year, how many kilos of materials will the company need to purchase for its production during the year?
The number of kilos of materials that the company will need to purchase for its production during the year is: $1,441,000.
Number of kilos of materials to purchase
Using this formula
Kilos of materials=(Units to produce×Number of kilos of raw materials)+Ending kilo of raw material-Beginning kilo of raw material
Let plug in the formula
Kilos of materials=(480000×3)+3,000-2,000
Kilos of materials=1,440,000+1,000
Kilos of materials=$1,441,000
Therefore the number of kilos of materials that the company will need to purchase for its production during the year is: $1,441,000.
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Fyllor Inc., a manufacturer of office equipment such as fax machines and printers, regularly imports component parts and then assembles them to make finished products. A recent increase in the import duty on component parts has led to an increase in the price of the firm's products, and this in turn has led to a drop in sales. In this scenario, the drop in sales for Fyllor Inc. can be attributed to its:
In this scenario, the drop in sales for Fyllor Inc. can be attributed to its general environment.
What does the general environment refer to?A business's general environment refers to the external influences that shape business activities.
Some of the general environment or external influences include the environment, technology, political factors, economic conditions, demographics, and socio-cultural forces (PESTEL).
Thus, in this scenario, the drop in sales for Fyllor Inc. can be attributed to its general environment.
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The branch of economics that examines the economy as a whole is called.
The branch of economics that examines the economy as a whole is called Macroeconomics.
What is macroeconomics?Macroeconomics studies the function of the entire economy of a nation, group of nations, or the world.
Microeconomics deals with individuals, households, organizations, and businesses as they interact within an economic system.
Thus, the branch of economics that examines the economy as a whole is called Macroeconomics.
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You own a portfolio that has $1,720 invested in Stock A and $3,470 invested in Stock B. The expected returns on these stocks are 13.7 percent and 8.0 percent, respectively. What is the expected return on the portfolio
The expected return is 9.8% on the portf
What is the Expected return?The expected return is the amount of profit or loss an investor can anticipate receiving on an investment.
Calculation of expected return of Portfolio:
Stock A = $1,720 Expected return on Stock A is 13.7% =1,720 x 13.7% =$235.64
Stock B = $3,470 Expected return on Stock B is 8% = 3,470 x 8% =$277.6
Expected portfolio return = returns on each stock divided by incesting value.
Total return of each stock = $235.64 + $277.6 = $513.2
Total Invested value = $1,720 + $3,470 = $5,190
Expected portfolio return = $513.2 divide by $5,190 =9.8%
Thus, the expected return on the portfolio is 9.8%.
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How are time tickets and materials requisition slips similar?
Time tickets and materials requisition slips are similar to. The cost associated with both must be credited to the Work in Process Inventory. Option A. This is further explained below.
What are time tickets?Generally, A time ticket is a form filled out by workers to keep track of their working hours.
In conclusion, Both time tickets and materials requisition forms have certain similarities. Both must be accounted for in the Work in Process Budget.
Complete QuestionHow are time tickets and materials requisition slips similar?
The cost associated with both must be credited to the Work in Process Inventory. Costs associated with both must be recorded in the general ledger and job cost sheets.
Costs associated with both must be debited to Manufacturing Overhead.
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Consider a hypothetical market for salt in Canada. If the world price of salt is $40 per ton and Canada allows free trade, Blank______ tons of salt would be imported to Canada. Suppose the Canadian government imposes a tariff of $20 per ton on salt. The new price would be equal to Blank______.
Based on the world price of $40, if Canada engaged in free trade, the tons of salt imported would be 1,200 tons.
If a tariff of $20 per ton was imposed, the new price would be $60.
How much salt would Canada import?Canada would import:
= Domestic demand at $40 - Domestic supply at $40
= 1,800 - 600
= 1,200 tons
If the government imposed $20 tariffs on salt, the price would go to:
= Price of salt + tariff
= 40 + 20
= $60
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With no trade, the equilibrium price of grapes is $2 per pound in Macroland and $4 per pound in Econoland. Government leaders in Macroland are negotiating a free trade agreement with Econoland to increase trade between the two countries. Who among consumers and producers is likely to support and who is likely to oppose the free trade agreement
Those in Macroland and Econoland who would support or oppose the free trade agreement are:
Consumers in Econoland - Support. Producers in Econoland - Oppose. Consumers in Macroland - Oppose. Producers in Macroland - Support. Who would support the free tade agreement?Consumers in Econoland would support the agreement because they would get cheaper grapes. Producers in the nation would lose market share as a result so they would oppose it.
Producers in Macroland would love to sell more grapes to another market so they would support. Consumers in the nation would oppose because grape prices might go up.
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question content area in recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is:
In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
What are inventory?Inventory include taken records of goods that are sold and the once that are available.
For goods that are sold they are removed from the available goods including the cost and added to the inventory as sold.
Therefore, In recording the cost of goods sold for cash, based on data available from perpetual inventory records, the journal entry is debit Cost of Goods Sold; credit Inventory.
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. _____ is defined as the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them. a. Value b. Equity c. Turnover d. Revenue
Value is defined as the perception of the benefits associated with a good, service, or bundle of goods and services in relation to what buyers are willing to pay for them
Value is characterized as the monetary value of an item owned, a product purchased, or a service provided. It refers to how consumers perceive the advantages of a good, service, or combination of goods and services in proportion to the price they are prepared to pay for them. It is the sum a customer is willing to spend on a specific product or service. In other words, it refers to the monetary value of a good, the amount that may be paid for a good, etc.
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You are feeling somewhat conflicted. As the manager of a sub sandwich and soup shop, you know the employees hate to be micromanaged and you want to empower them. At the same time, however, you want to ensure consistency in the products they serve, such as portion size and ingredient freshness, and you know from experience how easy it is to get off track. How can you accommodate these needs
You can accommodate these needs by training the employees well and conducting periodic checks of the food preparation area, employees, and orders.
Who are the employees?An employee is someone who has been hired by a company to do a certain activity. The employee is hired by the company after being chosen as an employee through an application and interview process. The candidate is chosen once the company determines that they are the most qualified candidate for the post in question.Who is an employer?The term "employer" refers to a person or a corporate entity that employs and compensates workers in the public, private, nonprofit, or business sectors. Employers, as the authority inside an organization, set the working conditions for employees and provide the agreed-upon terms, such as remuneration.Therefore, You can accommodate these needs by training the employees well and conducting periodic checks of the food preparation area, employees, and orders.
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The ____ is a private corporation owned by a consortium of commercial banks and industrial companies, but the ____ is a self-sustaining government agency formed in 1971. a.Overseas Private Investment Corporation (OPIC); Ex-Im Bank b.Overseas Private Investment Corporation (OPIC); Private Export Funding Corporation (PEFCO) c.Private Export Funding Corporation (PEFCO); Ex-Im Bank d.Private Export Funding Corporation (PEFCO); Overseas Private Investment Corporation (OPIC)
The answer choice which represents what should fill the blank spaces respectively is; Choice B; b.Overseas Private Investment Corporation (OPIC); Private Export Funding Corporation (PEFCO).
What is OPIC and PEFCO?The Overseas Private Investment Corporation (OPIC) although aided by the government is a private corporation established in 1984 while the Private Export Funding Corporation (PEFCO) is a government agency formed in 1971.
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A decision that involves doing a little more or a little less of something is called a:.
Answer:
Marginal decision.
The process of influencing people to work toward a common goal is.
Answer:
Leading/Leadership
Explanation:
Leadership inspires, influences and motivates people to work towards a goal and achieve it.
Budgets are created using expenses vs.
incoming revenue. What is another word for
revenue?
A. profit
B. sales
C. cost
Answer:
B. Sales
Are sales and revenue the same?The key difference between revenue and sales is that revenue refers to the total income a business entity generates from selling goods or providing services, as well as other income earned in the normal course of business. Sales, on the other hand, refers to the proceeds received by the company from selling goods or providing services. Although revenue and sales are sometimes conflated, there is a difference between the two. Revenue is the collective sum of money a business makes. Sales are the total compensation that a business receives from providing goods or services. Sales are a subset of revenue. In rare circumstances, revenue may be less than sales. Sales are when a customer pays a price for a company's products or services. Large businesses usually have additional revenue streams in addition to sales, including investments, services, interest, royalties, fees, and donations, to name a few. Although they may be easily distinguished in accounting terms, revenue and sales are often used interchangeably.
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which statement is not true regarding a critical asset in the enterprise environment
The statement that is not true regarding a critical asset in the enterprise environment is:
It can easily be replacedWhat is a critical asset?Critical assets are the main resources that sustain the daily operation of a business.
These assets are the lifeblood of the business so any attempt to replace them can significantly damage the smooth running of the organization. So, critical assets cannot be replaced.
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Fixed expenses are $531,000 per month. The company is currently selling 4,000 units per month. The marketing manager would like to cut the selling price by $14 and increase the advertising budget by $35,000 per month. The marketing manager predicts that these two changes would increase monthly sales by 500 units. What
The overall effect on the company's monthly net operating income of this change is A. decrease of $18,000.
What is break-even analysis?The break-even analysis is an accounting tool to determine the point at which cost and income are equal and there is neither profit nor loss.
Using the break-even technique, companies can evaluate production and sales decisions to arrive at optimal decisions.
Data and Calculations:Fixed costs per month = $531,000
Sales units per month = 4,000 units
Reduction in selling price = $14
New selling price = $186 ($200 - $14)
New fixed costs = $566,000 ($531,000 + $35,000)
News Sales units per month = 4,500 units (4,000 + 500)
New Contribution margin per unit = $146 ($186 - $40)
New Contribution margin ratio = 78.5% ($146/$186 x 100)
Determination of Change in Net Operating Income:Old New Difference
Total Contribution $640,000 $657,000 $17,000
($160 x 4,000) ($146 x 4,500)
Fixed costs 531,000 566,000 -$35,000
Net operating income $109,000 $91,000 -$18,000
Question Completion with Answer Options:Data concerning Pellegren Corporation's single product appear below:
Per Unit Percent of Sales
Selling price $200 100%
Variable expenses 40 20%
Contribution margin $160 80%
What should be the overall effect on the company's monthly net operating income of this change?
A. decrease of $18,000
B. increase of $38,000
C. decrease of $38,000
D. increase of $58,000
Thus, the overall effect on the company's monthly net operating income of this change is A. decrease of $18,000.
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why should social media managers begin the budgeting process for their social marketing program well before final budget numbers are settled?
Social media managers ought to begin the budgeting process for their social marketing program well before final budget numbers are settled because: they must collect all relevant data to enable them make a plausible case for how the numbers will be expended and the return or marketing investment.
Who is a social media manager?
A social media manager is a person who manages an aspect of marketing for a company that is related to the use of social media to reach the target audience.
It is crucial to note that budgeting is a very crucial aspect of social media marketing.
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Seth has just decided to replace his computer. His old computer cost him $1,433 when he bought it exactly seven years ago. Seth paid for it with his credit card, which has an APR of 11.70%, compounded monthly. He made no other purchases with the card and paid off his balance after two and a half years of making identical monthly payments. The computer consumed about $0.79 of electricity every day. In total, what percentage of the lifetime cost of the computer did the electricity make up
Based on the cost of the computer in terms of electricity, and the amount he paid for it, the percentage of the cost that the electricity made up is 54.898%.
What percentage of the cost did the electricity use?First find the amount that Seth paid over the two and half years:
= Monthly payment x 2.5 years x 12 months a year
= 55.32 x 2.5 x 12
= $1,659.60
The cost of the computer over 7 years is:
= (0.79 per day x 365 x 7)
= $2,018.45
The percentage that electricity takes is:
= 2,018.45 / (2,018.45 + 1,659.60)
= 54.88%
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Answer: correct answer is D on edge 2020
Explanation: In total, the electricity made up 54.898% of the lifetime cost of the computer thank you best of luck!!
When conducting an immediate charge on 2023 ariya, what is the first step if the timer is set?.
The first step to perform when conducting an immediate charge is to press the immediate charge switch on the lower left dash.
What is an immediate charge?This is a vehicle features that allows a quick charge of the engine.
However, the first step to perform when conducting an immediate charge is to press the immediate charge switch on the lower left dash.
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Which feature is used to summarize data from multiple worksheets but does not require that the data be in the same location on every worksheet?
Consolidate data from each worksheet into a single worksheet to summarize and report results from several worksheets.
What is worksheet?
A group of cells arranged into rows and columns is referred to as a "worksheet" in Excel documents.
Data consolidation makes it possible to combine the information from various worksheets into one master worksheet.
In other words, the Data Consolidation function compiles information from a number of worksheets or workbooks into a single worksheet that you can quickly update.
As a result, data consolidation is summarizing data from multiple worksheets.
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explain the different process for the development of decision making skill?
