Answer:
C
Explanation:
According to Heidi Ganahl , Organizational culture is defined as what the outside world perceives of the company and its brand.
In other words , it is believed that a company and its brand is the reflection of the value , belief and the attitudes shared by the employees , as well as the internal control system of the organization which represents the view it portrays to the general public .
14) Ruben intends to sell his customers a special round-trip airline ticket package. He is able to purchase the package from the airline carrier for $170 each. The round-trip tickets will be sold for $200 each and the airline intends to reimburse Ruben for any unsold ticket packages. Fixed costs include $5,140 in advertising costs. For every $27,000 of ticket packages sold, operating income will increase by ________.
Answer:
$4,050
Explanation:
Ticket packages sold $27,000
×
Round-trip tickets $200 -Purchase the package $170 /Round-trip tickets $200
Hence:
$27,000×$30/$200
=$810,000/$200
Therefore the operating income will increase by $4,050
Storytime Park competes with Splash World by providing a variety of rides. Storytime sells tickets at $ 100 per person as a one-day entrance fee. Variable costs are $ 60 per person, and fixed costs are $ 254 comma 000 per month. Compute Storytime Park's contribution margin ratio. Carry your computation to two decimal places. Use the contribution margin ratio approach to determine the sales revenue Storytime Park needs to break even.
Answer:
contribution margin ratio= 0.4
Break-even point (dollars)= $635,000
Explanation:
Giving the following information:
Storytime sells tickets at $ 100 per person as a one-day entrance fee.
Variable costs are $ 60 per person, and fixed costs are $254,000 per month.
To calculate the contribution margin ratio, we need to use the following formula:
contribution margin ratio= contribution margin/selling price
contribution margin ratio= (100 - 60)/100
contribution margin ratio= 0.4
To calculate the sales required to break even, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 254,000/0.4
Break-even point (dollars)= $635,000
eCompeteUSA is a competitive video gaming tournament company headquartered in Palo Alto, California. Video game tournaments are organized competitions where multiplayer video games are played for cash prizes of up to $500,000. Gamers and fans are flocking to tournaments both in-person and virtually. Recently, an eSports tournament housed at the Staples Center sold out in under an hour, which surprised even industry insiders.
Answer: Set up a meeting with the VP of marketing and other involved parties to define the problem that needs to be solved.
Explanation:
Here is the complete question:
eCompeteUSA is a competitive video gaming tournament company headquartered in Palo Alto, California. Video game tournaments are organized competitions where multiplayer video games are played for cash prizes of up to $500,000. Gamers and fans are flocking to tournaments both in-person and virtually. Recently, an eSports tournament housed at the Staples Center sold out in under an hour, which surprised even industry insiders.
eSports is gaining popularity worldwide with audience sizes exceeding 134 million. The industryis currently valued at over $747 million, and many predict that the value will top $1.9 billion by 2020.The industry is currently dominated by males (85% male, 15% female) and young people (60% of viewers are under 35 years old). Currently, eCompeteUSA has a relatively small share of the market, but the company feels there are significant opportunities for growth and profitability. You have recently been hired as a research analyst reporting to the VP of Marketing,whose task is to help eCompeteUSA grow its business.
You consider the situation, roll up your sleeves, and get to work. What should be the first step you take in obtaining the information you need to help eCompeteUSA move up in the eSports industry?
a. Examine the secondary sources you have at hand (public and internal databases) to establish exactly what data you already have and what data you need to obtain.
b. Set up a meeting with the VP of marketing and other involved parties to define the problem that needs to be solved.
Solution:
The main objective in the question is to grow eCompeteUSA business. Based on this, the 1st step to take is to define the problem which needs to be solved. Hence, one has to meet with the VP of marketing and every other involved parties.
This is necessary so that every impediments that can affect the growth can be solved. Hence, the first step is to set up a meeting with the VP of marketing and other involved parties to define the problem that needs to be solved.
Indicate how each of the following would shift the (1) marginal-cost curve, (2) average-variable-cost curve, (3) average-fixed-cost curve, and (4) average-total-cost curve of a manufacturing firm. In each case specify the direction of the shift.
a. A reduction in business property taxes.b. An increase in the nominal wages of production workers.c. A decrease in the price of electricity.d. An increase in insurance rates on plant and equipment.e. An increase in transportation costs.
Answer:
a. A reduction in business property taxes: MC-No change; AVC-No change; AFC-Shift down; ATC-Shift down. (Fixed cost)
b. An increase in the nominal wages of production workers: MC-Shift up; AVC-Shift up; AFC-No change; ATC- Shift up. (Variable cost)
c. A decrease in the price of electricity: MC-Shift down; AVC-Shift down; AFC-No change; ATC-Shift down. (Variable cost)
d. An increase in insurance rates on plant and equipment: MC-No change; AVC-No change; AFC-Shift up; ATC-Shift up. (Fixed cost)
e. An increase in transportation costs: MC-Shift up; AVC-Shift up; AFC-No change; ATC-Shift up. (Variable cost)
Explanation:
Where;
MC is the Marginal Cost.
AVC is the Average Variable Cost.
AFC is the Average Fixed Cost.
ATC is the Average Total Cost.
1. Marginal Cost (MC) can be defined as the cost incurred in the production of one unit of a product.
2. Average Variable Cost (AVC) can be defined as the total variable cost per unit of production. It is calculated by dividing total variable cost (TVC) by total output of production (Q);
AVC = \frac{TVC}{Q}
3. Average Fixed Cost can be defined as the fixed cost per unit of production. It is calculated by dividing fixed cost (FC) by total output of production (Q);
AFC = \frac{FC}{Q}
4. Average Total Cost (ATC) can be defined as the overall cost of production divided by total output of production. It is calculated by dividing total cost by total output of production or by adding TVC and TFC.
[tex]ATC = TVC + TFC[/tex]
A corporate bond has a face value of $1,000 and a coupon rate of 9.5%. The bond matures in 12 years and has a current market price of $1,100. If the corporation sells more bonds it will incur flotation costs of $48 per bond. If the corporate tax rate is 35%, what is the after-tax cost of debt capital
Answer:
5.71%
Explanation:
The after tax cost of debt=pretax cost of debt*(1-t)
where t is the tax rate of 35% or 0.35
pretax cost of debt=yield to maturity
The yield to maturity can be determined using rate formula in excel as below:
=rate(nper,pmt,-pv,fv)
nper is the number of coupon interest payable by the bonds i.e 12 coupons in 12 years
pmt is the annual coupon=$1000*9.5%=$95
pv is the current market price-flotation cost=$1,100-$48=$1052
fv is the face value of $1000
=rate(12,95,-1052,1000)=8.78%
After tax cost of debt=8.78% *(1-0.35)=5.71%
During 2016, the Tastee Partnership reported income before guaranteed payments of $92,000. Stella owns a 90% profits interest and works 1,600 hours per year in the business. Euclid owns a 10% profits interest and performs no services for the partnership during the year. For services performed in 2016, Stella receives a "salary" of $6,000 per month. Euclid withdrew $10,000 from the partnership during the year.
If required, round your answers to the nearest dollar.
a. What is the amount of guaranteed payments made by the partnership during 2016?
b. How much is the partnership’s ordinary income after any deduction for guaranteed payments?
c. For 2016, how much income will Stella and Euclid report?
Stella: $___________
Euclid: $___________
Expert Answer
Answer: a. $72,000
b) $20,000
c) Stella $90,000
Euclid $2,000
Explanation:
a) The guaranteed payments in this scenario will be the salary that Stella receives per month. Stella is said to receive $6,000 per month.
The period is determined to be a year so she received $6,000 per month for 12 months.
= 6,000 * 12
= $72,000
b) With an income of $92,000, the partnership made guaranteed payments to Stella to the tune of $72,000. The amount after the payment is,
= 92,000 - 72,000
= $20,000
c) The Income after the Payments is $20,000.
Stella is said to have 90% of that so she gets,
= 20,000 * 90%
= $18,000.
Adding that to the $72,000 she was paid,
= 72,000 + 18,000
= $90,000
Stella will report $90,000 as income.
Euclid with 10% of the profit sharing ratio will report,
= 10% * 20,000
= $2,000
Euclid will report $2,000 as Net Income.
The $10,000 withdrawn by Euclid is not considered income.
During 2021, its first year of operations, a company provides services on account of $256,000. By the end of 2021, cash collections on these accounts total $133,000. The company estimates that 11% of accounts receivable will be uncollectible. Record the adjustment for uncollectible accounts on December 31, 2021.
Answer:
The Record for the adjustment for uncollectible accounts on December 31, 2021 would be the following:
31/12/2021 Debit Credit
Bad Debts Expense $ 9,250.00
Allowance for doubtful accounts $ 9,250.00
(To record bad debt expense)
Explanation:
In order to Record the adjustment for uncollectible accounts on December 31, 2021 we would have to make the following calculation:
Bad Debts Expense=(services on account-cash collections)*11%
Bad Debts Expense=($256,000-$133,000)*11%
Bad Debts Expense=$13,5330
Therefore, the journal entry would be the following:
31/12/2021 Debit Credit
Bad Debts Expense $ 9,250.00
Allowance for doubtful accounts $ 9,250.00
(To record bad debt expense)
A&D Inc. is projecting the following increases and decreases over the next year: Inventory
- increase by $3 million Accounts receivable
- decrease by $2 million Accrued payroll taxes
- increase by $1 million Fixed assets
- increase by $5 million Long term debt
- increase by $4 million Revenues
- increase by $6 million As a result of its projections,
A&D Inc. can expect it's net working capital to:
a. increase by $7 million
b. Increase by $1 million.
c. Decrease by $1 million
d. Not change.
Answer:
The question is is properly formatted ,find below question:
A&D inc is projecting the following increases and decreases over the next year.
Inventory - increases by $3 million
accounts receivable - decrease by $2 million
Accrued payroll taxes - increase by $1 million
fixing assets - increase by $5 million
long term debt - increase by $4 million
revenues - increase by $6 million
The correct option is D,not change
Explanation:
The change in net working capital=change in current assets - change n current liabilities
change in current assets=increase in inventory-decrease in accounts receivable=$3 m-$2m=$1m
Change in current liabilities=increase in payroll taxes=$1m
Change in net working capital=$1m-$1m=$0
The correct option is d,not change since the change in net working capital expected is $0
Option C is wrong because that is change in both current assets and current liabilities respectively
A company is set to launch a new product line. At first, only the brand's logo is displayed in various media, without any explanation of what the brand is or what the brand does. Greater familiarity with the logo, in and of itself, tends to make consumers like the brand more. This strategy is known as:
Answer:
Mere exposure effect.
Explanation:
Just as the name sounds "mere exposure", this is explained to be a phenomenon where trust is build on familiarity. Constant usage, constant familiarizing with a particular person, object or product makes a person trust it more than others or its substitutes. This effect according to research and natural order is seen to be psychological that is why the company in the case above used only their logo in all media sampling and other adverts first just to trap the minds of those familiar with their brands before the advert. Simply here, a user can easily trust to buy the new product based on the older products.
Suppose a company, Re-Tire, has come out with a new approach to solve the problems of punctures. Its new wheel, which is made of steel, allows rubber "tread segments" of tire tread to be bolted directly to the wheel (see image; tire not actual size). No air is required, so the tire can’t go flat, and if one of the segments becomes damaged, the operator using basic hand tools can merely replace the segment without removing the wheel and dismounting and reinstalling the reparied tire. With an ordinary tire, the wheel has to be removed and the tire dismounted at a shop using special tools. The benefit is that the operator can be back to work almost immediately.Assume Re-Tire has a patent on the technology to create the wheel and tread segments, which requires extensive computer simulation in the design of the tread segments. Assume as well that because the technology for creating the rubber segments is less complex than that for air-filled tires, the cost of production for Re-Tire is approximately 20% lower than for regular tires. The steel wheels for the segments are roughly equivalent in cost to those used for regular air-filled tires (the wheels are not interchangeable). Around the world there are about 800,000 skid steer loaders in operation in various industries, and 90% of them use one of just two tire sizes. The replacement tire market for the loaders is over $700 million per year. What price should Re-Tire set for its combination wheel/tread segment product? Assume the standard wheel/air tire combination is $250.
Answer:
The description of the given question is described in the explanation section below.
Explanation:
Throughout my personal view, the cost including its combination wheel/tread sequence good or service should be set at $200 for Re-Tire. As the conventional wheel/air gear combined effect is $250 as well as the level of manufacture besides Re-Tire is about 20% lower than those for frequent tires.The profit of such a 20% reduction costs should be managed to pass forward with employees to gain the start promoting including the latest design and technical method that used produce such tires, and several other costs associated with that as well.The value proposition and perhaps even the accessibility added benefit will surely make clients consider buying but also setting up such tires, and also becoming frequent or long-term buyers of Re-Tire.Identify Postings from Cash Payments Journal
Using the following cash payments journal, identify each of the posting references, indicated by a letter, as representing (1) a posting to a general ledger account, (2) a posting to a subsidiary ledger account, or (3) that No posting is required.
CASH PAYMENTS JOURNAL Page 46
Date Ck.No. Account Debited Post.Ref. Other AccountsDr. Accounts Payable Dr. Cash Cr.
20Y1
July 3 611 Energy Systems Co. (a) 4,000 4,000
July 5 612 Utilities Expense (b) 310 310
July 10 613 Prepaid Rent (c) 3,200 3,200
July 16 614 Flowers to Go, Inc. (d) 1,250 1,250
July 19 615 Advertising Expense (e) 640 640
July 22 616 Office Equipment (f) 3,600 3,600
July 25 617 Echo Co. (g) 5,500 5,500
July 26 618 Office Supplies (h) 250 250
July 31 619 Salaries Expense (i) 1,750 1,750
July 31 9,750 10,750 20,500
(j) (k) (l)
Answer:
Explanation:
The general ledger shows the record for every financial transaction which an organization does. The subsidiary ledger is just used to support the general ledger control account as it gives vital informations on sales, discounts, etc.
Based on the above explanation, the references, indicated by the letter will be posted thus:
a. This will be posted to the subsidiary ledger account.
b. This will be posted to the general ledger account.
c. This will be posted to the general ledger account.
d. This will be posted to the subsidiary ledger account.
e. This will be posted to the general ledger account.
f. This will be posted to the general ledger account.
g. This will be posted to the subsidiary ledger account.
h. This will be posted to the general ledger account
i. This will be posted to the general ledger account.
j. For this, there will be no posting required.
k. This will be posted to the general ledger account.
l. This will be posted to the general ledger account
Vintage Audio Inc. manufactures audio speakers. Each speaker requires $127 per unit of direct materials. The speaker manufacturing assembly cell includes the following estimated costs for the period:
Speaker assembly cell, estimated costs:
Labor $45,050
Depreciation 6,040
Supplies 2,200
Power 1,655
Total cell costs for the period $54,945
The operating plan calls for 185 operating hours for the period. Each speaker requires 20 minutes of cell process time. The unit selling price for each speaker is $344. During the period, the following transactions occurred:
Purchased materials to produce 530 speaker units.
Applied conversion costs to production of 505 speaker units.
Completed and transferred 480 speaker units to finished goods.
Sold 460 speaker units.
There were no inventories at the beginning of the period.
a. Journalize the summary transactions (1)-(4) for the period. Do not round interim calculations.
1.
2.
3.
4. Sale
4. Cost
b. Determine the ending balance of raw and in process inventory and finished goods inventory.
Raw and In Process Inventory, ending balance $
Finished Goods Inventory, ending balance $
Answer:
A.1.
Dr Raw and In Process Inventory 67,310
Cr Accounts Payable 67,310
2
Dr Raw and In Process Inventory 49,995
Cr Conversion cost 49,995
3
Dr Finished goods inventory 108,480
Cr Raw and In Process Inventory 108,480
4a
Dr Accounts receivables 158,240
Cr Sales 158,240
4b
Dr Cost of goods sold 103,960
Cr Finished goods inventory 103,960
b.
Raw and In Process Inventory, ending balance
=$3,540
Finished Goods Inventory, ending balance
= $4520
Explanation:
Solution a:
Budgeted conversion cost per unit =
$54,945 / 185 *20/60
=$297*20/60
= $99 per unit
Vintage Audio Inc. Journal Entries
1.
Dr Raw and In Process Inventory 67,310
Cr Accounts Payable 67,310
(530*$127)
2
Dr Raw and In Process Inventory 49,995
Cr Conversion cost 49,995
(505*$99)
3
Dr Finished goods inventory 108,480
(480*$226)
Cr Raw and In Process Inventory 108,480
4a
Dr Accounts receivables 158,240
(460*$344)
Cr Sales 158,240
4b
Dr Cost of goods sold 103,960
(460*$226)
Cr Finished goods inventory 103,960
b.
Raw and In Process Inventory, ending balance =$54,945+$49,995-$108,480
=$3,540
Finished Goods Inventory, ending balance
$108,480-103,960
= $4520
Estimating Share Value Using the DCF Model Following are forecasts of Whole Foods sales, net operating profit after tax (NOPAT), and net operating assets (NOA) as of September 25, 2016.
Reported Horizon Period
$ millions 2016 2017 2018 2019 2020 Terminal Period
Sales $15,724 $15,881 $16,199 $16,523 $16,853 $17,022
NOPAT 526 524 535 545 556 562
NOA 3,466 3,500 3,570 3,642 3,715 3,752
Answer the following requirements assuming a discount rate (WACC) of 6%, a terminal period growth rate of 1%, common shares outstanding of 318.3 million, and net nonoperating obligations (NNO) of $242 million.
(a) Estimate the value of a share of Whole Foods' common stock using the discounted cash flow (DCF) model as of September 25, 2016.
Rounding instructions:
Round answers to the nearest whole number unless noted otherwise. Use your rounded answers for subsequent calculations.
Do not use negative signs with any of your answers.
Reported Forecast Horizon
($ millions) 2016 2017 2018 2019 2020 Terminal Period
Increase in NOA Answer Answer Answer Answer Answer
FCFF (NOPAT - Increase in NOA) Answer Answer Answer Answer Answer
Discount factor [1 / (1 + rw)t ] (Round 5 decimal places) Answer Answer Answer Answer
Present value of horizon FCFF Answer Answer Answer Answer
CUMULATIVE present value of horizon FCFF $ Answer
Present value of terminal FCFF Answer
Total firm value Answer NNO Answer
Firm equity value $ Answer
Shares outstanding (millions) Answer (Round one decimal place)
Stock price per share $ Answer (Round two decimal places)
(b) Whole Foods stock closed at $30.96 on November 18, 2016, the date the 10-K was filed with the SEC. How does your valuation estimate compare with this closing price? What do you believe are some reasons for the difference?
A. Stock prices are a function of many factors. It is impossible to speculate on the reasons for the difference.
B. Our stock price estimate is only a few cents lower than the Whole Foods market price, indicating that we believe that Whole Foods stock is accurately priced. Our stock price estimate is lower than the Whole Foods market price, indicating that we believe that Whole Foods stock is overvalued.
C. Stock prices are a function of expected NOPAT and NOA, as well as the WACC discount rate. Our lower stock price estimate might be due to more optimistic forecasts or a lower discount rate compared to other investors' and analysts' model assumptions.
D. Our stock price estimate is lower than the Whole Foods market price, indicating that we believe that Whole Foods stock is undervalued. Stock prices are a function of expected NOPAT and NOA, as well as the WACC discount rate. Our lower stock price estimate might be due to more optimistic forecasts or a lower discount rate compared to other investors' and analysts' model assumptions.
Answer:
Check the explanation for the answer
Explanation:
The price been estimated is bit lower than trading price
The price of the stock is also bit lower with the cents than the whole Foods market price, this indicate that we agree that Whole Foods stock is fixed priced.
Further calculations are been done in the file attached using excel
You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: splishy splashies, flopsicles, and cannies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-Mills provides your marketing firm with the following data: When the price of splishy splashies decreases by 1%, the quantity of flopsicles sold decreases by 18% and the quantity of cannies sold increases by 3%. Your job is to use the cross-price elasticity between splishy splashies and the other goods to determine which goods your marketing firm should advertise together. Complete the first column of the following table by computing the cross-price elasticity between splishy splashies and flopsicles, and then between splishy splashies and cannies. In the second column, determine if splishy splashies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with splishy splashies.
Answer:Please refer to Explanation
Explanation:
Cross Price Elasticity of Demand is a very useful tool in Economics to ascertain if goods are compliments or Substitutes.
Cross Price Elasticity of Demand (CPSD) measures the change in demand in one good due to a change in price is the other good.
If the CPSD is negative then the goods are Compliments meaning that they are used together which is why when the price of one good goes down, the demand of the compliment goes up because more of the original good will be bought due to the lower price.
If the CPSD is Positive, it means that they are Substitutes and a Decrease in price in one good leads to a decrease in demand for the other good because people will demand less of it and switch to the former (now cheaper) good.
The formula is,
= % change in Quantity Demanded of Product A /% change in Price of Product B
a. Splishy splashies and Flopsicles
CPSD = -18%/-1%
= 18%
The CPSD for both these products is 18% which is a positive figure. This means that they are Substitutes and should not be marketed together.
b. Splishy Splashies and Flopsicles
CPSD = 3%/-1%
= -3%
With the CPSD being a negative figure here, these goods are Compliments.
Splishy Splashies and Flopsicles should be Marketed together as they compliment each other.
Joe lost a substantial amount gambling at a race track today. On the last race of the day, he decides to make a large enough bet on a longshot so that, if he wins, he will make up for his earlier losses and break even on the day. His friend Sue, who is up for the day, makes just a small final bet so that she will end up ahead for the day even if she loses the last race. This is typical race track behavior for winners and losers. Would you explain this behavior using over-confidence bias, prospect theory, or some other principle of behavioral economics? Joe and Sue's behavior can be explained by A. the gambler's fallacy because they do not believe past events affect current, independent outcomes. B. overconfidence because they are overconfident they will win on the day's last bet. C. the certainty effect because they place too little weight on outcomes that they consider to be certain relative to risky outcomes. D. the reflection effect because their attitudes toward risk are symmetric for gains and losses. E. prospect theory because they are making decisions relative to their wealth at the start of the day.
Answer:
A. the gamblers fallacy
Explanation:
This is because he is down a lot but he is still going to take the shot.
Jetz is the leading manufacturer of personal computers. In a recent year, it reported the following in dollars in millions: Net sales revenue $ 76,131 Cost of sales 59,344 Beginning inventory 1,760 Ending inventory 1,860 Required: Determine the inventory turnover ratio and average days to sell inventory for the current year. (Use 365 days a year. Round your intermediate calculations and final answers to 2 decimal places.)
Answer:
Results are below.
Explanation:
Giving the following information:
Net sales revenue $ 76,131
Cost of sales 59,344
Beginning inventory 1,760
Ending inventory 1,860
First, we need to calculate the average inventory:
Average inventory= (beginning inventory + ending inventory)/2
Average inventory= (1,760 + 1,860)/2
Average inventory= 1,810
Now, the inventory turnover ratio:
inventory turnover ratio= cost of goods sold/ average inventory
inventory turnover ratio= 59,344/1,810
inventory turnover ratio= 32.79
Finally, the average days to sell inventory:
average days to sell inventory= 365/inventory turnover
average days to sell inventory= 365/32.79
average days to sell inventory= 332.21 days
An insurer wishes to compare the information given in an insurance application with previous insurance applications by the same applicant but for different companies. What organization can help the insurer accomplish this?
Answer:
The Medical Information Bureau
Explanation:
The Medical Information Bureau, established in 1902 has the responsibility of holding in their database, and crosschecking the past information records of applicants and determining if there are any errors or irregularities in documentation. They make this information available through a code so as to ensure the maintenance of privacy.
So, when an Insurer wants to crosscheck the information given in an insurance application, with previous insurance applications by the same applicant, the right place to go to would be the Medical Information Bureau, because they have the database.
As a project manager for a large construction company, Kevin decided to make the performance appraisal process as painless as possible for his crew. He spent a considerable amount of time creating performance standards he felt were reasonable, and after six months’ time, he scheduled individual appointments with each worker to discuss strengths and weaknesses and areas that needed improvement according to the standards he privately set. Some employees were sent to vestibule training, and one even got a promotion with additional compensation. What did Kevin fail to do correctly? Provide a pleasant environment for the appraisal such as a restaurant setting. Dismiss at least 10% of the work crew. Communicate the performance standards to the employees so they know what is expected. Copy the HR department on all the results, within 24 hours of each appraisal
Answer:
Kevin failed to do this correctly:
Communicate the performance standards to the employees so they know what is expected.
Explanation:
Performance standards are the accepted levels of performance by an employee on the job. They should be based on the position and tasks, and not the individual. They should specify indicators of success for each skill within a competency map and illustrate “what a good job looks like”.
In setting performance standards and evaluating actual performance of subordinates against the set standards, it is a good practice to communicate the standards' requirements to those who will be evaluated on them.
The communication of performance standards enables the manager to obtain desired outcomes, improve employees' performances, and develop new skills, in the employees and herself.
a company had no office supplies available at the beginning of the year. during the year, the company purchased $370 worth of office supplies. on december 31, $125 worth of office supplies remained. how much should the company report as office supplies expense for the year
A company had no office supplies available at the beginning of the year. during the year, the company purchased $370 worth of office supplies. on december 31, $125 worth of office supplies remained. The company report $245 as office supplies expense for the year.
What do you mean by Company?A company is a legal body created by a group of people to conduct and manage a business enterprise, whether it be commercial or industrial. Depending on the corporate legislation of its jurisdiction, a corporation may be set up in a variety of ways for tax and financial liability reasons.
Supplies expense = Supplies purchased during the period - Ending balance of supplies on hand
Supplies expense = 370-125
Supplies expense = $ 245
Therefore, $245 is reported by the company as office supplies expense for the year.
Learn more about Company, here;
https://brainly.com/question/29354835
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One year ago, you purchased a newly-issued TIPS bond that has a 6% coupon rate, five years to maturity, and a par value of $1,000. The average inflation rate over the year was 4.2%. What is the amount of the coupon payment you will receive, and what is the current face value of the bond
Answer:
Amount of the coupon payment $62.52
Current face value of the bond $1,042
Explanation:
The bond price, which will be indexed to the inflation rate will be:
$1,000*1.042
= $1,042
The coupon interest payment will be based on the coupon rate as well as the new face value.
Therefore the interest amount will be:
$1,042*.06
= $62.52
Paul Company had 100,000 shares of common stock outstanding on January 1, 2016. On September 30, 2016, Paul sold 50,000 shares of common stock for cash. Paul also had 11,000 shares of convertible preferred stock outstanding throughout 2016. The preferred stock is $100 par, 5%, and is convertible into 3 shares of common for each share of preferred. Paul also had 520, 8%, convertible bonds outstanding throughout 2016. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at face value. Reported net income for 2016 was $320,000 with a 40% tax rate. Common shareholders received $2.20 per share dividends after preferred dividends were paid in 2016. RequiredCompute basic and diluted earnings per share for 2016. (Round your answers to 2 decimal places.)
Answer:
basic earnings per share (EPS) = $2.36
diluted EPS = $1.64
Explanation:
weighted average common stocks:
January 1: 100,000 shares x 12/12 = 100,000
September 30: sold 50,000 shares x 3/12 = 12,500
total 112,500
net income = $320,000
preferred dividends = $100 x 5% x 11,000 = $55,000
diluted shares:
preferred stocks = 11,000 x 3 = 33,000
convertible bonds = 520 x 30 = 15,600
total 48,600
basic earnings per share (EPS) = (net income - preferred dividends) / weighted average shares = ($320,000 - $55,000) / 112,500 = $2.36
diluted EPS = (net income - preferred dividends )/ (weighted average shares + convertible preferred stocks + convertible bonds) = ($320,000 - $55,000) / (112,500 + 48,600) = $1.64
Duck Company produces a product which sells for $40. Variable manufacturing costs are $18 per unit. Fixed manufacturing costs are $5 per unit based on the current level of activity, and fixed selling and administrative costs are $4 per unit. A selling commission of 15% of the selling price is paid on each unit sold. The contribution margin per unit is:Multiple Choice$22$16$7$17
Answer:
Contribution margin = $16
Explanation:
Contribution is the difference between the selling price and the variable cost.
Contribution margin = (Sales - variable cost )
Variable cost = Variable manufacturing + Variable selling cost
Variable cost = 18 + (15%× 40) = 24
Contribution margin = 40 - 24 = $16
Contribution margin = $16
When the accounts of Daniel Barenboim Inc. are examined, the adjusting data listed below are uncovered on December 31, the end of an annual fiscal period.
1. The prepaid insurance account shows a debit of $5,280, representing the cost of a 2-year fire insurance policy dated August 1 of the current year.
2. On November 1, Rent Revenue was credited for $1,800, representing revenue from a subrental for a 3-month period beginning on that date.
3. Purchase of advertising materials for $800 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $290 are on hand.
4. Interest of $770 has accrued on notes payable.
Instructions
Prepare the following in general journal form.
a. The adjusting entry for each item.
b. The reversing entry for each item where appropriate.
Answer:
1. The prepaid insurance account shows a debit of $5,280, representing the cost of a 2-year fire insurance policy dated August 1 of the current year.
Dr Insurance expense 1,100 (= $5,280 x 5/24 months) Cr Prepaid insurance 1,100Five months of insurance expense must be recorded for August - December.
2. On November 1, Rent Revenue was credited for $1,800, representing revenue from a subrental for a 3-month period beginning on that date.
Dr Rent revenue 600 (= $1,800 x 1/3 months) Cr Unearned revenue 600Rent revenue corresponding to January cannot be recorded as earned yet, so it must be recorded as unearned revenue (liability).
3. Purchase of advertising materials for $800 during the year was recorded in the Advertising Expense account. On December 31, advertising materials of $290 are on hand.
Dr Advertising supplies (or materials) 290 Cr Advertising expense 290Unused advertising material is considered an asset that can be used during the next period, the same as any other supplies.
4. Interest of $770 has accrued on notes payable.
Dr Interest expense 770 Cr Interest payable on notes payable 770Accrued interest must be recorded as an expense during the period in which it occurs (accrual principle).
Listed below are several transactions that took place during the first two years of operations for the law firm of Pete, Pete, and Roy. Year 1 Year 2 Amounts billed to clients for services rendered $182,000 $232,000 Cash collected from clients 166,000 196,000 Cash disbursements Salaries paid to employees for services rendered during the year 96,000 106,000 Utilities 33,000 46,000 Purchase of insurance policy 61,800 0 In addition, you learn that the firm incurred utility costs of $38,000 in year 1, that there were no liabilities at the end of year 2, no anticipated bad debts on receivables, and that the insurance policy covers a three-year period. Required: 1. Calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model.
2. Prepare an income statement for each year according to the accrual accounting model.
Requirement 1:
Calculate the net operating cash flow for years 1 and 2 and determine the amount of receivables from clients that the company would show in its year 1 and year 2 balance sheets prepared according to the accrual accounting model. (Net cash outflows should be indicated by a minus sign). Year 1 Year 2
1. Net operating cash flow
3. Receivables
Requirement 2
Prepare an income statement for each year according to the accrual accounting model.Pete, Pete, and ROoy
Income Statements
Year 1 Year 2Revenues
Expenses:
Salaries
Utilities
Insurance
Net income (loss)
Answer:
Pete, Pete, & Roy
1. Net Operating Cash Flow for years 1 and 2:
Year 1 Year 2
Cash from Customers $166,000 $196,000
Cash to employees -96,000 -106,000
Utilities paid -33,000 -46,000
Insurance -68,000 0
Net Operating Cash Flow -31,000 44,000
2. Pete, Pete, and Roy Income Statements
Year 1 Year 2
Revenues $182,000 $232,000
Expenses:
Salaries -96,000 -106,000
Utilities -38,000 -41,000
Insurance -20,600 -20,600
Net income (loss) 27,400 64,400
3. Accounts Receivables
Year 1 Year 2
Beginning Balance $0 $16,000
Service Revenue $182,000 $232,000
Cash Collection -166,000 -196,000
Balance $16,000 $52,000
Explanation:
1. The net operating cash flow is the difference between the cash inflows and the cash outflows during the period. The inflows represent cash collections while the outflows represent cash disbursements.
2. The net income is a function of service revenue minus all business expenses incurred during the period, whether actually paid for or not.
3. Receivable balance is the difference between the value of services rendered to customers and the cash collections from the customers. The second year's receivables will include the first year's balance.
QUESTION 1
St Georges Company, manufactures industrial valves. It is engaged in interstate commerce and
has an annual cedi volume of sales of GH10,000,000. The company employs 1,000 people: 900
wage- and 100 salary-based employees. In 2009 the company paid a minimum wage of
GH¢7.25). For work over 40 hours a week (1.e, over 8 hours in any weekday), the company paid
one-half times the regular rate. The company also paid twice the regular rate for work on
weekends (Saturdays, Sundays) and holidays. Let us assume John Smith, an assembly-line
mechanic, worked the following hours during the week of January 23, 2009:
1) 40 regular time hours;
2) 8 overtime hours; and
3) 8 weekend-holiday hours.
Required
Calculate Smith's wage.
Answer:
It dosent show a question.
Describe how to make an electronic payment
urn on eifiAnswer:
just t
Explanation:
Answer:
Each bank as similar ways when it comes to making an electronic payment. Once you are in your bank information on your phone or computer, you can set up a payment in the payments/bills section. You add the information to the bill you wish to pay and then you send the amount you want to pay ont he date you schedule it for
Explanation: Set up an account - register your details and follow the instructions.
Connect a bank card - enter your credit or debit card details.
Current assets for Bush Corporation are $260,000.00 and total assets are $600,000.00. Current liabilities are $170,000.00 and total liabilities are $300,000.00. Included in the current assets are merchandise inventory and prepaid expenses of $25,000.00 and $15,000.00, respectively. What is the acid-test ratio? A. 1.56 B. 0.87
Answer:
The acid test ratio is 1.38
Explanation:
The acid test ratio gives an indication of how easy it is for the company to pay back its short term obligations without considering inventory.
Acid test ratio=current assets-merchandise inventory/current liabilities
current assets is $260,000
current liabilities is $170,000
merchandise inventory is $25,000
acid test ratio=($260,000-$25,000)/$170,000= 1.38
The acid test ratio is 1.38 which is not of the options given
The only that is not as liquid as other current assets is merchandise inventory,hence deducted from current assets.
The journal entry to record the cost of goods sold in process costing is a(n):______
a) decrease in assets and a decrease in liabilities
b) decrease in an asset and an increase in an expense
c) increase in assets and an increase in an expense
d) increase in assets and an increase in equity
Answer: b) decrease in an asset and an increase in an expense
Explanation:
In process costing when recording the Cost of Goods sold, goods are to be transferred from the finished goods account to the Costs of Goods sold account to signify that the goods are ready for sale.
In such a situation the account to be debited is the Cost of Goods Sold account. The Account to be credited is the Finished Goods account.
The Cost of Goods sold is an Expense Account and Expense accounts increase when debited so this will result in an increase in Expenses.
The Finished Goods account is an Asset account and asset accounts reduce when they are credited. This will therefore reduce the Assets in the firm.
Presented below are data for Cullumber Company
2020 2021
Assets, January 1 $4220 $5100
Liabilities, January 1 2570 ?
Stockholders' Equity, Jan. 1 ? ?
Dividends 864 634
Common Stock 761 661
Stockholders' Equity, Dec. 31 ? ?
Net Income 855 669
Stockholders' Equity at January 1, 2020 is:_______.
a) $243 loss.
b) $726 income.
c) $180 income.
d) $726 loss.
Answer:
$1,650.
Note: The correct asnwer is $1,650 based on the information provided in the question but it is not included in the option. Kindly confirm this from your teacher.
Explanation:
Stockholders' Equity at January 1, 2020 can be obtained using the accounting equation stated as follows:
Assets = Stockholders' Equity + Liabilities
Since on January 1, 2020, we have:
Assets = $4,220
Stockholders' Equity = ?
Liabilities = $2,570
Substituting the values into the accounting equation above, we have:
$4,220 = Stockholders' Equity + $2,570
Rearranging, we have:
Stockholders' Equity = $4,220 - $2,570 = $1,650
Therefore, Stockholders' Equity at January 1, 2020 is $1,650.
Direct Materials Variances The following data relate to the direct materials cost for the production of 10,000 automobile tires: Actual: 145,000 lbs. at $2.80 per lb. Standard: 150,000 lbs. at $2.75 per lb. a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Direct Materials Price Variance $ Direct Materials Quantity Variance $ Total Direct Materials Cost Variance $ b. The direct materials price variance should normally be reported to the . If lower amounts of direct materials had been used because of production efficiencies, the variance would be reported to the . If the favorable use of raw materials had been caused by the purchase of higher-quality raw materials, the variance should be reported to the .
Answer:
direct materials price variance = $7,250
direct materials quantity variance = - $13,750
total direct materials cost variance = - $6,500
The direct materials price variance should normally be reported to the Purchasing Manager.
Variance in direct materials used would be reported to the Production Manager
The favorable variance caused by purchase of higher-quality raw materials would be reported to Purchasing Manager
Explanation:
direct materials price variance = (Aq × Ap) - (Aq × Sp)
= (145,000 × $2.80) - (145,000 × $2.75)
= $7,250 A
direct materials quantity variance = (Aq - Sp) - (Sq × Sp)
= (145,000 × $2.75) - (150,000 × $2.75)
= $13,750 F
total direct materials cost variance = direct materials price variance + direct materials quantity variance
= $7,250 A + $13,750 F
= $6,500 F
The direct materials price variance should normally be reported to the Purchasing Manager.
Variance in direct materials used would be reported to the Production Manager
The favorable variance caused by purchase of higher-quality raw materials would be reported to Purchasing Manager
Note
Variances are reported to responsible managers.