The total fixed cost for the month of September for S&P Enterprises was $63,000.
How do you calculate the total fixed cost?To calculate the total fixed cost for the month of September, we need to add up the fixed manufacturing overhead, fixed selling expense, and fixed administrative expense:
Fixed manufacturing overhead = $30,000
Fixed selling expense = $15,000
Fixed administrative expense = $18,000
Total fixed cost = Fixed manufacturing overhead + Fixed selling expense + Fixed administrative expense
Total fixed cost = $30,000 + $15,000 + $18,000
Total fixed cost = $63,000
Therefore, the total fixed cost for the month of September for S&P Enterprises was $63,000.
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Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, Number 5888 for $1,066 and Number 5893 for $491. Check Number 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,500 9,968 11,611 20,143 CHECKS AND DEBITS DEPOSITS AND CREDITS Date Number Amount Date Amount 09/03 5888 1,066 09/05 1,168 09/04 5902 792 09/12 2,293 09/07 5901 1,820 09/21 4,146 09/17 673 NSF 09/25 2,309 09/20 5905 919 09/30 15 IN 09/22 5903 426 09/30 1,680 CM 09/22 5904 2,115 09/28 5907 274 09/29 5909 1,883 From Chavez Company’s Accounting Records Cash Receipts Deposited Date Cash Debit September 5 1,168 September 12 2,293 September 21 4,146 September 25 2,309 September 30 1,790 11,706 Cash Payments Check Number Cash Credit 5901 1,820 5902 792 5903 426 5904 2,074 5905 919 5906 993 5907 274 5908 411 5909 1,883 9,592 Cash Account Number 101 Date Explanation PR Debit Credit Balance August 31 Balance 16,943 September 30 Total receipts R12 11,706 28,649 September 30 Total payments D23 9,592 19,057 Additional Information (a) Check Number 5904 is correctly drawn for $2,115 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,074. (b) The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. (c) The credit memorandum (CM) is from the collection of a $1,680 note for Chavez Company by the bank. The collection is not yet recorded.
$ 18,160 is the adjusted bank balance as well as the adjusted amount per book.
The majority of savings account issuers as well as some credit card companies use the adjusted balance technique to determine the interest due.
Steps for calculation:
Balance on Bank Statement in Cr: $18,359
Add: Sept. 30 Dr. 1,689 deposit
Deduct:
No. 5893 Dr. 506 Check
No. 5906 Dr. 1,002 Check
Check No. 5908 Dr. 380
Adjusted Bank Balance Cr $18,160
$17,291 in Book Balance Cr
Add: Earned Interest Dr 16
Note Proceeds Dr 1,550
Subtract: NSF Error Dr 656
(Check 5904) Dr. 41
Adjusted Book Balance Cr $18,160
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Correct question:
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,032 and No. 5893 for $506. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement
PREVIOUS BALANCE 17,000
TOTAL CHECKS AND DEBITS 9,975
TOTAL DEPOSITS AND CREDITS 11,334
CURRENT BALANCE 18,359
CHECKS AND DEBITS DEPOSITS AND CREDITS
09/035888 1,032 09/05 1,109
09/045902 759 09/12 2,226
09/075901 1,898 09/21 4,086
09/17 656NSF 09/25 2,347
09/205905 946 09/30 16IN
09/225903 383 09/30 1,550CM
09/225904 2,149
09/285907 258
09/295909 1.894
Cash Receipts Deposited
Sept. 5 1,109
Sept. 12 2,226
Sept. 21 4,086
Sept. 25 2,347
Sept. 30 1,689
11,457
Cash payments
5901 1,898
5902 759
5903 383
5904 2,108
5905 946
5906 1,002
5907 258
5908 380
5909 1,894
9,628
Cash Explanation PR Debit Credit Balance
Aug 31. Balance 15,462
Sept 30. Total Receipts. R12 11,457 26,919
Sept 30. Total Payments. D23 9,628 17,291
Prepare the September 30 bank reconciliation for this company.
Which statement regarding the shadow price of the Labor Hour constraint is true? O A. The shadow price of the first constraint is zero because the shadow price of a slack constraint is always O B. The shadow price of the first constraint is negative because the shadow price of a slack constraint is always negative. O C. There is no way to know about the shadow price of the first constraint without the sensitivity report. O D. The shadow price of the first constraint is positive because the shadow price of a slack constraint is always positive.
The shadow price of a constraint indicates the increase in the objective function value associated with a one-unit increase in the right-hand side of the constraint.
If the constraint is binding (i.e., the optimal solution uses all of the available resources of the constraint), then the shadow price represents the marginal value of an additional unit of the constrained resource. If the constraint is non-binding (i.e., there is slack in the constraint), then the shadow price is zero because the constraint is not affecting the optimal solution. Therefore, the statement "The shadow price of the first constraint is zero because the shadow price of a slack constraint is always zero" is generally true for a slack constraint, while the statement "The shadow price of the first constraint is negative because the shadow price of a slack constraint is always negative" is not necessarily true. Similarly, the statement "The shadow price of the first constraint is positive because the shadow price of a slack constraint is always positive" is also not necessarily true. The statement "There is no way to know about the shadow price of the first constraint without the sensitivity report" is also not entirely accurate, as the shadow price can be calculated directly from the dual solution of the linear programming problem. However, the sensitivity report can provide a more comprehensive and detailed analysis of the impact of changes in the right-hand side values of the constraints on the optimal solution and the shadow prices.
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Zach bought 200 shares of goshen stock years ago for $21. 35 per share. He sold all 200 shares today for $43 per share. What was his gross capital gain?.
200 shares were purchased for a total of $4270; they were sold for a total of $8600; and a capital gain of $4330 resulted from the sale of the 200 shares.
Why do you use the term shares?Shares are fractional ownership interests in a corporation. For certain businesses, shares are a type of financial instrument that allows for the equitable distribution of any declared residual income in the form of rewards.
Given that Zach purchased 200 shares 20 years ago,
Price of 1 share = $21.35
a) The 200 shares' total acquisition price was:
= 200 × $21.35
= $4270
b) The fact that Zach traded 200 shares today is a given.
Price of 1 share = $43
The 200 shares were sold for a total of:
= 200 × $43
= $8600
c) The 200 shares' capital gain was as follows:
= $8600 - $4270
= $4330
Therefore , the answers are :
a) The cost of the 200 share was $4270 in total.
b) The 200 shares were sold for a total of $8600.
c) The 200 shares' capital gain came to $4330.
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The Complete Question :
Zach bought 200 shares of Goshen stock 20 years ago for $21.35 per share. He sold all 200
shares today for $43 per share.
a. What was the total purchase price for the 200 shares?
b. What was the total selling price for the 200 shares?
C. What was the capital gain for the 200 shares?
What will people buy? What should Target offer?
Target is a large retailer with which you are familiar. Target has a reputation for merchandising thousands of inexpensive yet chic products for the home, including apparel, furniture, electronics, sporting goods and toys. Management is looking into opening stores in major European cities but due to limited floor space, it is unable to offer all of its usual products. You have been hired as a consultant to decide which products to offer. What criteria would you apply to decide which products? Which products would you definitely offer...and which not.
Target offer should Criteria for selection of a product .
What is Target retail?
Stewart K. Widdess, the PR director at Dayton, came up with the moniker "Target" with the intention of keeping customers from confusing the new chain of cheap stores with the department store.
An audience that plans to purchase a good or service is referred to as a target. Consumer, industrial, and reseller markets are the three categories that exist. However, a retailer only cares about the consumer market, also referred to as the retailer's target market.
Examples of the retail target market?
Customers of small enterprises are frequently segmented by age or gender. An example is a store that sells women's apparel and targets women with its advertising.
On the other hand, a huge and tall men's store targets tall and heavy men with their marketing efforts. Likewise, some small businesses target particular age groups when marketing.
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Which of the following is a part of the interpersonal communication model that led to the communication breakdown between Jane and the customer?a. inadequate or poor communication
b. busy business environment
c. avoiding blaming the customer
The interpersonal communication model that caused the breakdown in communication between Jane and the customer includes the busy business environment. So (b) is the correct answer.
The term "business environment" refers to the sum or collection of all internal and external factors, including people working in the company, customer needs and expectations, supply and demand, management, clients, suppliers, and owners, as well as government actions, technological innovation, social trends, market trends, and economic changes. These elements have a direct or indirect impact on how a firm operates and performs its functions. These factors taken together have an impact on the environment and situation of businesses or corporate entities.
Business environment increases overall performance, growth, and profitability of the organisation by assisting in the identification of business prospects, utilising helpful resources, and assisting in planning. Business environments come in a variety of forms, including macro and micro environments.
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The project team members are temporarily assigned to the project and report to the project manager. The manager heading the project coordinated its activities with other departments and reports directly to top management. Project managers receive high visibility in a firm and are a key element in the planning, scheduling and control of project activities. Elaborate with an appropriate example, any FIVE (5) contents of final project close out report that the project manager are directly responsible.
The final stage of a project is called project closure. The project manager must confirm that the client, stakeholder, or customer has approved the project deliverables at this point.
Project Closing Steps:
Managing a project is an experience you can continuously learn from. It's not just about tasks and resources, money and deadlines.As mentioned, initiatives produce reams of paperwork. Stakeholders will need to sign off on and approve these documents.You put together a team for the project, and now it's time to let them go. They are now free to move on to the following project thanks to this formal and important process.The reason you meet with your team frequently throughout the project and reflect on the process afterwards is that there are lessons to be learned from previous projects.You're not doing your job if you think it's absurd. It is not absurd to give your staff a reward for a job well done.To learn more about project closure visit;
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What is managment SUPPLY Chane
Explanation:
management Supply chain is management of the flow of goods, data, and finances related to a product or service, from the procurement of raw materials to the delivery of the product at its final destination.
A person who sells goods and/or services to a customer is called:
In order to determine GDP the expenditures approach, all spending on ___ goods and services, not intermediate goods, is added up.
In order to determine GDP the expenditures approach, all spending on final goods and services, not intermediate goods, is added up.
The value of a nation's total production of products and services minus the value of the raw materials utilised for a given period of time, usually one year, is known as a country's gross domestic product (GDP). One way to determine GDP which is a metric of the total value of products produced inside a nation's borders during a specific time period is the expenditures approach.
The expenditures approach involves adding up all final product purchases made throughout the measurement period to determine GDP. Spending by individuals, companies, governments and overseas consumers is included in this. Whereas, spending on intermediate products is not taken into account because their worth is already factored into the final price of the finished commodities that are used in the manufacturing of other products.
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Put the goods in the correct column, indicating whether the demand for them is elastic or inelastic. Think about each good in terms of the average person's quantity demanded. Items (7 items) (Drag and drop into the approprlate area below |Tropicana orange blood pressure cigarettes if you public water. other utilities -restaurant |drive-through atl Cocoa Pebbles fast food in the food court at the | mall and diabetes medication smoke 3 packs a day 3 am.
Elasticity of demand refers to the degree to which the quantity demanded of a good or service changes in response to a change in its price.
Elastic Demand Inelastic Demand
Tropicana orange juice Diabetes medication
Fast food in the food court at the mall Cigarettes if you smoke 3 packs a day
Drive-through fast food Public water
Cocoa Pebbles Other utilities (e.g. gas, electricity)
Restaurant meals
Blood pressure medication
If a small change in price results in a large change in quantity demanded, the demand is said to be elastic. If a change in price has little effect on the quantity demanded, the demand is said to be inelastic.
Note: It's important to keep in mind that the elasticity of demand can vary depending on the specific circumstances and individuals involved. These categorizations are based on general tendencies and assumptions about the average person's quantity demanded.
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A company issued 10-year bonds three years ago with a coupon of 7 percent. If the current
market rate is 8 percent and the bonds make annual coupon payments, what is the current
market value of one of these bonds? what is the current market value of one of these bonds if it
was a zero-coupon rate? (2.5 Marks)
The current market value of one of these bonds with a 0% coupon rate is approximately $540.60.
What is market value?Market value is the amount that an asset would sell for on the open market or the estimation that the financial community makes of a specific equity or company.
To calculate the current market value of a bond with a coupon rate, we can use the present value of an annuity formula:
P = C / r * (1 - 1 / [tex](1 + r)^n[/tex]) + FV / [tex](1 + r)^n[/tex]
For a bond with a face value of $1,000, a coupon rate of 7%, and a market interest rate of 8%, the annual coupon payment is $70 ($1,000 x 7%).
The number of years to maturity is 7 (10 years - 3 years). Using these values in the formula, we get:
P = $70 / 0.08 x (1 - 1 / [tex](1 + 0.08)^7[/tex]) + $1,000 / [tex](1 + 0.08)^7[/tex]
P = $70 / 0.08 x 4.868 + $1,000 / [tex]1.08^7[/tex]
P = $70 / 0.08 x 4.868 + $508.43
P = $759.73
Therefore, the current market value of one of these bonds with a 7% coupon rate is approximately $759.73.
For a zero-coupon bond, we can use the formula:
P = FV / [tex](1 + r)^n[/tex]
P = $1,000 / [tex](1 + 0.08)^7[/tex]
P = $540.60
Therefore, $540.60 is the current market value of one of these bonds with a 0% coupon rate.
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Make a job cost sheet for the standard units. use the following direct materials and direct labor information. - direct materials $7,740 - direct labor $5,492 for overhead, computer overhead rates for each of the three activities. hint, you will divide each activitys budgeted cost by the total amount of that activity's cost driver. you will have to calculate 3 different rates, one for each activity. (round activity rate and cost per unit answers to 2 decimal places.) your job cost sheet will include: direct materials direct labor overhead for purchasing overhead for designing overhead for shipping
Per units cost is 2.96(round to 2 decimal places) as per the requirement.
Job cost sheet for Standard units:
Job cost sheet for Standard Units
Direct Material
$7,846.00
Direct labor
$6,540.00
Overheads:
Purchasing
$30,000.00
Designing
$41,400.00
Shipping
$45,000.00
Total overheads
$116,400.00
Total job cost
$130,786.00
Divide by Units produced
$44,254.00
Per Cost unit
$2.96
Formula snip: for the Job cost sheet.
Job cost sheet for Standard Units
Direct Material
7846
Direct labor
6540
Overheads:
Purchasing
=(93000/7750)*2500
Designing
=(92000/10000)*4500
Shipping
=(87000/5800)*3000
Total overheads
=SUM(B5:B7)
Total job cost
=SUM(C2:C8)
Divide by Units produced
44254
Per Cost unit
=C9/C10
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the insurance information and privacy protection act is designed to limit or direct the information collection activities of all of the following, except:
Option A. Insurance regulators are one of the entities that the Insurance Information and Privacy Protection Act is designed to regulate.
The Insurance Information and Privacy Protection Act is a federal law designed to regulate the collection, use, and disclosure of personal information by insurance companies. The law requires insurance companies to provide certain notices to consumers regarding their information collection and sharing practices. Additionally, the law provides individuals with certain rights over their personal information, such as the right to access, correct, and control the use of their information.
One of the main objectives of the Insurance Information and Privacy Protection Act is to protect the privacy of consumers. To achieve this goal, the Act limits or directs information collection activities of insurance companies, insurance regulators, and domestic companies. By regulating the information collection practices of these entities, the Act aims to prevent the misuse or unauthorized disclosure of personal information.
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The insurance information and privacy protection act is designed to limit or direct information collection activities of all the following except:
A. Insurance regulators
B. Commissioner of Insurance
C. Domestic Companies
D. Replacement
Can you fully solve the picture provided
If the income is $9 and the prices or X and Y are $2 and $1, the quantities of each that will be purchased will be 2 units of X and 5 units of Y.
The total utility is 105.
When the other things remain unchanged and the price of X is $1, the quantities of X and Y to be purchased will be 4 units of X and 5 units of Y.
What is utility maximization?The idea behind utility maximization is that people and organizations should aim to get the most happiness possible out of their financial choices. Utility maximization is a crucial idea in consumer theory because it demonstrates how customers choose how to distribute their income.
It should be noted that the total utility was calculated as:
= (23 + 16) + (18 + 16 + 14 + 10 + 8)
= 105
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When you perform a budget analysis you compare a 'projected budget' with a/an_________ budget.
When you perform a budget analysis you compare a 'projected budget' with a/an Actual budget.
What does an Actual budget mean?The actual budget is the actual revenue you achieve, which usually differs slightly from the static budget prediction due to unforeseeable changes in spending and financial activity from quarter to quarter.
The process of comparing your organization's predicted budget to the amount you actually have in order to determine the variance, or difference, is known as budget vs. actual. The static budget for your company is the amount you expect to earn based on past earnings and expenses.
Bookkeepers perform a budget vs. actual variance analysis to monitor the difference between the static budget predicted at the beginning of each fiscal period, and the actual amount after.
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The director decides to move forward to fix this issue.
"I'd like you to come up with a strategy to fix this misperception by consumers. I want this strategy to create an almost involuntary reaction in the consumer of thinking 'good-tasting cookie' whenever they see 'Cocoa Cremes'."
"I think once they learn and remember that the cookie brand stands for an enjoyable eating experience, we may see an increase in sales."
Which strategy would you recommend to the director?
You will recommend developing an advertising strategy that pairs image of people eating and enjoying cookies .
Elaborating:This is primarily due to the fact that the company is compelled to show customers a product commercial with two pictures of people eating and enjoying cookies bearing the brand name. which will undoubtedly recall the advertising campaign and brand name.
Every time they see advertising that uses the brand name, customers would be encouraged to try the product. Your brand's exposure through this strategy will undoubtedly result in increased sales. Customers will begin to view the brand in a more favorable light as a result of this positive influence.
Despite the fact that managers frequently employ both mental models, they frequently fail to recognize the differences. Additionally, decision-makers fall prey to mental pitfalls as a result of this lack of awareness. We can avoid falling into these traps and make better decisions if we understand backward and forward thinking.
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implications of cellular biology on hospitality and tourism management research: sustainable develpoment goal perspective
___________ Accounting allows internal users to determine what information they need to make planning and control decisions and is not rules-based
The answer is Managerial accounting.
Managerial Accounting allows internal users to determine what information they need to make planning and control decisions and is not rules-based.
Managerial accounting, also known as management accounting, is the act of identifying, measuring, analyzing, interpreting, and conveying financial information to internal users such as managers and executives to aid in planning and control decisions. It is not controlled by widely recognized accounting rules (GAAP), but rather by the special demands of the company and its management. Managerial accounting information is typically used to make decisions that affect the day-to-day operations and long-term strategy of the firm.
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How are government wide financial statements different from fund basis financial statements?
Government-wide financial statements focus on the overall financial position and activities of the entire government, while fund basis financial statements focus on individual funds.
Government-wide financial statements are prepared using accrual accounting and consolidate all of the financial activities of the entire government, including its various funds, departments, and agencies. This allows for a more comprehensive view of the government's financial position and performance. In contrast, fund basis financial statements are prepared using modified accrual accounting and focus on individual funds, which are separate accounting entities with their own specific purposes and restrictions. Fund basis financial statements provide detailed information about each fund's financial activities and resources. While government-wide financial statements are more useful for evaluating the overall financial health of the government, fund basis financial statements are necessary for assessing the financial position and activities of each individual fund.
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Article Analysis.
In most cases, the food truck industry is an example of monopolistic competition. Read the article and answer the questions below. "The mobile food industry is just like any other fledgling industry -- it has many success stories, but it also has many stories of failure. To run a food truck, you need to be on the streets six or seven days a week serving lunch and dinner, not to mention the need to be present at any food truck event that pops up. Owning a food truck means working the majority of your waking hours, especially at the start of your business...
Because the mobile food industry is seeing huge popularity and expansion, some people think that opening a food truck has become the next get-rich-quick business model. Yes, food trucks can earn a lot of money. However, most of them typically spend almost all they make. Unfortunately, your fixed costs don't change, and your bills come due every month. Your staff still needs to be paid, too. You must load your truck up with food for every shift, so you must pay for your ingredients, fuel, and insurance. Unless you already own your commercial kitchen, you're going to owe rent to your kitchen landlord...
You can earn a decent living as a food truck owner only if you intend to work in the truck. Many people think they'll open a food truck and draw a paycheck without actually cooking, managing, or working at the service window."
1. Identify two characteristics that the food truck industry shares with perfectly competitive industries.
2. Identify two characteristics that the food truck industry shares with monopolies or other imperfectly competitive industries.
3. Identify two different strategies that food trucks use to earn more profit 1 point than their competitors.
4. Explain the difference between explicit costs and implicit costs and underline one example of each of them in the article above.
5. Assuming that there are few government regulations, explain why food trucks owners would likely earn no economic profit in the long run.
Today, there are many distinct types of food production, ranging from modest, labor-intensive family-run businesses to massive, capital-intensive, and highly automated food industry enterprises.
Several food-related enterprises are significantly reliant on regional agriculture, livestock, produce, and/or fisheries. The majority of the food consumed by the world's population is provided by the food industry, a vast, global network of multiple firms.Finding a comprehensive plan to deal with every area of food production and delivery is difficult. It is referred to as "the full food business" by the UK Food Standards Agency and includes farming, food manufacturing, packaging, and distribution, as well as retail and catering. food industry The USDA's Economic Research Service employs the same language as the food
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how do you know the people (messengers) delivering the information are credible?
There are some elements that are checking the author's and the source's credentials and affiliations, Analyze the sources that the author cited, check to see if the source is current and Look at the testimonials and reviews the source has got.
What is delivering the information?Information delivery describes reporting activities such as organized, interactive data distribution and organization. In essence, it refers to the methods used to transfer information from one party to another, whether that party is a client or another individual within a company.
The most common way of disseminating information is through written form. Any type of written information that is meant to be read and comprehended by a readership, such as a blog post, an article, an ebook, or another format, can be used.
Thus, checking the author's and the source's credentials.
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Privacy advocates are not questioning whether Axon's software will transform the legal and lethal limits of policing but how it will change policing and who will profit the most from these changes.
Group of answer choices
True
False
Privacy advocates are not questioning whether Axon's software will transform the legal and lethal limits of policing but how it will change policing and who will profit the most from these changes. The statement is True.
What are Privacy advocates?Individuals having authority and expertise concerned with information leaks and exploitation are said to be privacy advocates who called for prior obtaining consent and claimed that technology could be employed by customers to automatically transmit their privacy choices.
An individual who actively supports a certain method of proceeding or strategy is known as an advocate and makes the argument for increased standards, regulations, enforcement, and regulation of all parties.
Therefore, the statement is True.
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Carlos can produce the following combinations of X and Y: 10X and 10Y, 5X and 15Y, and OX and 207. The opportunity cost of one unit of X for Carlos is a) 1 unit of Y. b) 2 units of Y. O c) 1/2 unit of Y. d) 1/4 unit of Y. e) none of the above
For Carlos, one unit of X has an opportunity expense of one unit of y. The correct answer is option (a).
What is opportunity cost?The value of what you forgo when choosing between two or more choices is known as opportunity cost. Every decision involves trade-offs, and opportunity cost refers to the gains you could have gained by going in one way rather than the other.
Opportunity cost is the value of other products or services you must forgo in order to purchase your desired item. The term "cost" as used by economists typically refers to opportunity expense. Using the word "cost" in everyday speech or the news is widespread.
Opportunity cot = What we give up/What we gain
OC = Give up(y)
= 15 - 10
= 5y
= 5/5
= 1y/x
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Francis takes 20% of his income and puts it aside for rainy days, this called?
I think investing
i think that becasue he is saving it and investing means: expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture.
Cheryl is single, has one child (age six), and files as head of household during 2022. Her salary for the year is $21,700. She qualifies for an earned income credit of the following amount.
a.$0.
b.$3,733.
c.$3,483.
d.$3,493.
Cheryl is single, has one child (age six), and files as head of household during 2022. Her salary for the year is $21,700. She qualifies for an earned income credit of the $3,493. Thus, option (d) is correct.
What is earned income credit?Earned Income Tax Credit (ETC) was the main motive to the low- to moderate-income workers and the tax was the break to the earned to the income on the tax break. It was the based on the retirement income, unemployment benefits, alimony, and the child support.
According to the earned income credit was the Cheryl is single child are the age is six. The head of the qualifies for an earned income credit of the $3,493. Her salary was the $21,700.
The maximum amount of credit for Tax Year 2022 is:
$7,430 with three or more qualifying children$6,604 with two qualifying children$3,493 with one qualifying child$600 with no qualifying children.As a result, the significance of the earned income credit are the aforementioned.
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For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Big Winner is charging $350 per room per night.
If average household income increases by 25%, from $40,000 to $50,000 per year, the quantity of rooms demanded at the Big Winner (FALLS/RISES) from _____ rooms per night to____ rooms per night. Therefore, the income elasticity of demand is (NEGATIVE/POSITIVE) , meaning that hotel rooms at the Big Winner are (AN INFERIOR GOOD/ A NORMAL GOOD) .
If the price of an airline ticket from SFO to LAS were to increase by 20%, from $250 to $300 roundtrip, while all other demand factors remain at their initial values, the quantity of rooms demanded at the Big Winner (FALLS/RISES) from ____ rooms per night to ____ rooms per night. Because the cross-price elasticity of demand is (NEGATIVE/POSITIVE) , hotel rooms at the Big Winner and airline trips between SFO and LAS are (SUBSTITUTES/COMPLEMENTS) .
Big Winner is debating decreasing the price of its rooms to $325 per night. Under the initial demand conditions, you can see that this would cause its total revenue to (DECREASE/INCREASE) . Decreasing the price will always have this effect on revenue when Big Winner is operating on the (ELASTIC/INELASTIC) portion of its demand curve.
If typical household income grows by 25%, between $40,000 to $50,000 per year, the number of rooms requested at the Big Winner Skyrockets from ____ rooms per night to____ rooms per night.
Therefore, the income elasticity of demand is POSITIVE, meaning that hotel rooms at the Big Winner are A NORMAL GOOD. Explanation: An increase in average household income will increase the purchasing power of consumers, which may lead to increased demand for hotel rooms at the Big Winner. The positive income elasticity of demand suggests that hotel rooms at the Big Winner are a normal good, as consumers will demand more hotel rooms when their income increases. If the cost of a one-way plane ticket from SFO to LAS rises by 20%, from $250 to $300, but all other demand parameters stay constant, the number of rooms required at the Big Winner FALLS from ___ rooms per night to ___ rooms per night. Hotels at the Big Winner and plane tickets between SFO and LAS are COMPLEMENTS because of merge demand elasticity is NEGATIVE. Explanation: An increase in the price of airline tickets will make it more expensive for consumers to travel to SFO, which may decrease the demand for hotel rooms at the Big Winner. The inverse merge elasticity of demand implies that hotel rooms at the Big Winner and airline journeys between SFO and LAS are complementary, since a change in the cost of one commodity (airline tickets) affects want for the other (hotel rooms). Big Winner is considering lowering its accommodation rates to $325 per night. Under the original market dynamics, you observe that its total revenue would INCREASE. Since Big Winner is functioning on the ELASTIC section of its demand curve, lowering the price always has this effect on revenue. Explanation: When the price elasticity of demand is elastic, a decrease in price will lead to an increase in quantity demanded that is proportionately greater than the decrease in price, resulting in an increase in total revenue. Therefore, if Big Winner is operating on the elastic portion of its demand curve, a decrease in price will lead to an increase in total revenue.
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a) Prepare a horizontal analysis of the balance sheet data for Nike, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.5%.)
NIKE, INC.
Condensed Balance Sheet
May 31
($ in millions) Assets
Assets 2022 2021 Increase ( Decrease) Percentage (Change)
Current Assets $9,600 $8,730 $ %
Property, plant, and equipment (net) 1,910 1,830 $ %
Other assets 1,470 1,620 $ %
Total assets $12,980 $12,180 $ %
Liabilities and Stockholders' Equity
Current Liabilities $3,210 $3,370 $ %
Long-term liabilities 1,254 1,330 $ %
Stockholders’ equity 8,516 7,480 $ %
Total liabilities and stockholders' equity $12,980 $12,180 $ %
b) Prepare a vertical analysis of the balance sheet data for Nike for 2022.
NIKE, INC.
Condensed Balance Sheet
May 31
$ (in millions) Percent
Assets
Current Assets $9,600 %
Property, plant, and equipment (net) 1,910 %
Other assets 1,470 %
Total assets $12,980 %
Liabilities and Stockholders' Equity
Current Liabilities $3,210 $
Long-term liabilities 1,254 $
Stockholders’ equity 8,516 $
Total liabilities and stockholders' equity $12,980 $
Condensed Balance sheet
May 31
2022 2021 Increase( drop) Percent change from 2021
means
Current means 9600 8730 87010.0
Property, factory, and outfit( net) 1910 1830 804.4
Other means 1470 1620-150-9.3
Total means 12980 12180 8006.6
arrears and Stockholders' Equity
Current arrears 3210 3370-160-4.7
Long- term arrears 1254 1330-76-5.7
Stockholders ’ equity 8516 7480 103613.9
Total arrears and stockholders' equity 12980 12180 8006.6
b
Condensed Balance distance
May,2022
$ in millions Percent
means
Current means 960074.0
Property, factory, and outfit( net) 191014.7
Other means 147011.3
Total means 12980100.0
arrears and Stockholders' Equity
Current arrears 321024.7
Long- term arrears 12549.7
Stockholders ’ equity 851665.6
Total arrears and stockholders' equity 12980100.0
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opportunities and challenges when participating in international economic integration
Economic integration typically results in lower trade costs, increased availability of goods and services, and efficiency gains that lead to increased purchasing power.
The challenges are as follows: (a) port and customs quality, (b) trade and investment barriers, (c) development gaps, and (d) nascent regional economic governance.
What is economic integration?Economic integration is the collaboration of two or more countries to reduce or eliminate trade barriers and promote political and economic cooperation.
The benefits include:-
Assists developing countries in taking advantage of economies of scale by integrating with developed countries.Increases production capacity and opens up new opportunities.The disadvantages are as follows:
Trade diversions may deflect small countries' economies and land while benefiting member countries.Developing countries become dependent on more developed countries, resulting in depressed areas.Therefore, opportunities and challenges when participating in international economic integration are mentioned above.
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You (or your parents) purchase a used car for $15,867. 00 plus 5. 25% sales tax. The down payment is 10% of the total cost and you (or your parents) have an excellent credit rating. What is your principal balance at the start of the loan?.
$6267.51 is the principal balance at the start of the loan if the car is purchased for $15,867. 00 plus 5. 25% sales tax if they are having an excellent credit rating.
The given data is as follows:
The price of the car = $15,867
Sales Tax = 5.25%
Down payment = 10% of the total cost
The information given here is that they have excellent credit ratings.
Excellent secured APR: 5.25% = 0.417% for 1 month
The total purchasing price = price of the car * sales tax
The total purchasing price = $15,867 * (1.052/100) = $16,700
Downpayment = 10% of the total cost
Downpayment = $16,700 * (10/100) = $1670
Subtracting the downpayment from the total cost,
price = $16,700 - 1670 = $15030
The principal balance at the start of the loan = $15030 * 0.417
principal balance = $6267.51
Therefore, we can conclude that $6267.51 is the principal balance at the start of the loan.
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The manager of the commercial mortgage department of a large bank has collected data during the past two years concerning the number of commercial mortgages approved per week. The results from these two years
(104
weeks) are shown to the right.
Compute the standard deviation.
c. What is the probability that there will be more than one commercial mortgage approved in a given week?
Number Approved
Frequency
0
13
1
25
2
33
3
17
4
9
5
5
6
1
7
1
The standard deviation is approximately 1.37 commercial mortgages per week.
The probability of more than one commercial mortgage being approved in a given week can be found by adding the frequencies for all weeks with more than one approval (25+33+17+9+5+1+1) and dividing by the total number of weeks (104). This gives a probability of approximately 0.77 or 77%.
How does the standard deviation of commercial mortgages approved per week compare to the average number approved?Without knowing the specific data, it is difficult to give a precise answer. However, in general, if the standard deviation is relatively low compared to the average number approved, it indicates that the number of commercial mortgages approved per week is consistent and close to the average. On the other hand, a high standard deviation would suggest that there is a large variation in the number of commercial mortgages approved per week, which may be a cause for concern. Ultimately, the relationship between the standard deviation and the average number approved provides insight into the level of stability and predictability in the data.
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