The dollar value of the ending inventory is given as $264
How to solve for the dollar value of ending inventoryThrough the specific identification system, we can identify units through the use of accounting principles.
We have to multiply the number of units of inventory by the amount that it costs.
Hence we have
2 * 12 + 4 * 15 + 10 * 18
This gives us $264 as the dollar value of the inventory.
Complete questionAssume that Sparks uses a perpetual specific identification inventory system. Its ending inventory consists of 2 units from beginning inventory, 4 units from the Jan. 5 purchase, and 10 units from the Jan. 30 purchases. Calculate the dollar value of its ending inventory.
Jan 1
Beginning Inventory
10 at $12
Jan 5
Purchase
10 at $15
Jan 30
Purchase
10 at $18
Feb 8
Sale
14 units
$186
$264
$160
$450
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Answer:$264
Explanation:
An army pilot from State A was injured when his helicopter crashed due to a defect in the tail rotor. The helicopter was manufactured by a contractor, a private company incorporated and with its principal place of business in State B. The contractor produced equipment for use by the military pursuant to contracts with the United States government. The army pilot brought a strict products liability action in federal district court in State B against the contractor, alleging $200,000 in damages. The contractor seeks to assert a defense recognized and developed by federal courts for private defense contractors involved in contracts with the United States government. Although not set forth by federal statute or other federal rule, the defense has been used to allow private defense contractors to avoid tort liability under state law. State B does not recognize this defense. What law should the federal district court apply to this issue
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classical economists saw the depression as a political problem, not an economic problem. why?
Classical economists saw the depression as a political problem, because they believed labor unions were stopping the wage level from moving to the right level.
Classical economistsThe Classical economists believe that the great depression experience was as a result of as a political problem.
The reason why they believe it was political problem was because they felt the labor unions who is the union responsible for fight for the right of workers were the one that stop or prevent the wage level from moving to the right level.
Therefore they believed that labor unions were stopping the wage level from rising.
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Which group of people ultimately determines the products that a command economy produces?.
The group of people that ultimately determines the products that a free enterprise economy produces is Consumers. Read below about Enterprise economy produces.
What is an Enterprise economy?Enterprise economy is an economy in which people take risks when they invest their money, start new businesses, etc. Free enterprise refers to an economy where the market determines prices, products, and services rather than the government. Businesses and services are free of government control.
Therefore, the correct answer is as given above.
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What is a negative externality
Answer:
exists when a production or consumption of a product results in a coast of third party
For economics class the answer is : Negative externalities occur when the social cost of a good or service is higher than the private cost.
:)
Barnes Corporation introduces a new e-book reader that carries a two-year warranty against manufacturer's defects. Based on industry experience with similar product introductions, warranty costs are expected to be approximately 10 percent of sales. By the end of the first year of selling the product, total sales are $5 million, and actual warranty expenditures are $100,000. What amount should Barnes report as a liability at the end of the year?
Based on the total sales and the actual warranty liability, the amount that Barnes should report as a liability is $400,000.
How much should Barnes report?This can be found as:
= (Total sales x Warranty cost percentage) - Actual warranty expenditures
Solving gives:
= (5,000,000 x 10%) - 100,000
= 500,000 - 100,000
= $400,000
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Janelle, her husband Maxwell, and their unmarried adult son Jared live together under one roof. This is an example of which cultural influence?
extended family
nuclear family
cultural baggage
subculture
Assume that a company buys a new machine for $220,000 that has a useful life of five years and a $20,000 salvage value. The new machine will replace an old machine that can be sold for a salvage value of $10,000. The machine will generate incremental contribution margin of $37,500 per year. The only fixed expense associated with the new machine is its annual depreciation of $40,000 per year. What is the payback period for this investment
= $ 220000 – 10000
= $ 210,000
Annual Cash inflow = Contribution margin = $ 52500Payback period = Initial cost of investment /Annual cash inflow=$210000 / 52500
= 4.0 years
Answer = 4.0 yearsHence, in four years pay back period for this investment will take place
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which statement best describes one of the ethical principles in the gao's yellow book?
The statement that describes one of the ethical principles in the gao's yellow book is: D. Government information, resources, and positions should not be used for the auditor's personal gain.
What is ethical principles ?Ethical principles can be defined as the right things or behavior which a person is expected to follow or abide to.
The ethical principle in the gao's yellow book stated that auditors should not use the following for the selfish interest:
Government informationGovernment resources, and positionsTherefore the correct option is D.
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what happens during the storming stage of team development?
During the storming stage, people start to push against the established boundaries.
What is Team Development?Team development is the process if assembling a group of people who work together to achieve a common goal.
Before a Team is developed it must have passed through different stages which ensure a long lasting team.
During team development, there are five critical stages that must occur. They include
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describe the required qualifications occupation of dentist
Answer:
The following steps are necessary to meet dentist degree requirements and licensing standards:
Obtain 4-year bachelor's degree, usually in a science-related field
Take Dental Admissions Test (DAT)
Apply to and enroll in dental school
Complete classroom study and clinical experience
Pass licensing exams
Degree Required: Doctoral
Education Field of Study: Dental medicine, dental surgery
Job Growth (2016-2026): 19% (much faster than average)*
In enterprise systems, supply chain management is tied to the conversion of ______ to finished product
In enterprise systems, supply chain management is tied to the conversion of raw materials to finished product.
What are raw materials?This are materials that are used in production process to manufacture a product.
Raw materials are often transformed to finished product that is purchased by consumers.
Supply chain monitor the activity of converting raw material to finished product.
Therefore, In enterprise systems, supply chain management is tied to the conversion of raw materials to finished product.
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Proponents of a fixed exchange rate system point out that a major drawback of a floating exchange rate is that it is responsible for creating trade deficits. helps eliminate the uncertainty about the value of a currency. leads to uncertainty about the value of goods traded internationally. keeps a nation from trading fairly with other nations. is based on the value of gold held by a nations.
Proponents of a fixed exchange rate system point out that a major drawback of a floating exchange rate is that it C. leads to uncertainty about the value of goods traded internationally.
What is a floating exchange rate?A floating exchange rate refers to the foreign exchange rate as determined by the forex market based on supply and demand relative to other currencies.
A floating exchange rate system gives the government more scope to use monetary and fiscal policies to achieve domestic economic stability, unlike a fixed exchange rate regime.
Thus, proponents of a fixed exchange rate system point out that a major drawback of a floating exchange rate is that it C. leads to uncertainty about the value of goods traded internationally.
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Adrian, a single man who wants to buy a house in five years, read an article that recommended a down payment of 20 percent. With a large income and little debt, Adrian can afford to save a substantial amount of money every month. He is asking you for advice to help him reach his goal. It is now five years later, and Adrian has saved enough money for a 20 percent down payment on a house. He will have to borrow $135,000 in a 30-year loan with an annual interest rate of 6 percent compounded monthly. What will his monthly mortgage payment be
Based on the amount that Adrian borrowed and the annual interest, his monthly mortgage payment would be $809.39.
What is the monthly mortgage payment?The monthly payment is an annuity because it will be constant so we can use the present value of an annuity formula.
Periods:
= 30 x 12
= 360 months
Interest:
= 6% / 12 months
= 0.5%
Monthly amount is:
135,000 = Amount x (1 - (1 + 0.5%)⁻³⁶⁰) / 0.5%
Amount = 135,000 / 166.791614392335294
= $809.39
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On January 1, Ramirez Supply leased a car for a four-year period, at which time possession of the car will revert back to the lessor. Annual lease payments are $14,100 due on December 31 of each year, calculated by the lessor using a 10% discount rate. Negotiations led to Ramirez guaranteeing the lessor a $42,300 residual value at the end of the lease term although Ramirez estimates that the residual value after four years will be $40,200. What is the amount to be added to the right-of-use asset and lease payable under the residual value guarantee
Based on the amount that Ramirez guaranteed the lessor and the estimated residual value, the amount to be added to the right-of-use asset is $1,434.33.
What amount should be added to the right-of-use asset?This would be the present value of the difference between the guaranteed amount and the estimated residual value.
= 42,300 - 40,200
= $2,100
Present value:
= 2,100 / (1 + 10%)⁴
= 1,434.328
= $1,434.33
In conclusion, the right-of-use asset amount to be added is $1,434.33.
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g
Question 4
Sally purchased a Ford Fusion for $25,000 in 2018. Today, Sally sold the car to Darien for
$18,000. How does this affect the CURRENT GDP?
Answer:
It doesn't affect it because it's a used good
Explanation:
Used goods ARE NOT counted. Goods are only counted in GDP during the year when they were produced, and/or the first time they are sold.
The selling of the used car by Sally will not have any effect on the GDP because such transaction has already been accounted earlier during the time of production and selling. Hence, no changes in GDP.
Why used goods are not included in GDP?Expenditure on used goods isn't always a part of GDP due to the fact those items had been a part of GDP withinside the duration wherein they had been produced and all through which time they had been new items.
Counting the sale of used items might be double-counting and might distort the authentic degree of manufacturing for a given duration.
Hence, no changes in GDP as the selling of the used car by Sally has already been accounted earlier.
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During a period of economic expansion, when expected profitability is high, the: select one: a. Equilibrium price of bonds increases. B. Equilibrium interest rate falls
During a period of economic expansion, the demand curve for bonds shifts to the left.
What is the effect of an economic expansion?During an economic expansion, the supply of money in the economy rises and the demand for money also increases. This leads to an increase in the interest rate and the price of the bonds would fall.
If expected profitability is expected to be high, people would prefer to hold more risky investment. Thus, there would be a fall in the demand for bonds. The demand curve for bonds would shift to the left.
Here are the options to this question:
A) the demand curve for bonds shifts to the left.
B) the supply curve of bonds shifts to the right.
C) the equilibrium interest rate falls.
D) the equilibrium price of bonds rises.
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After a prolonged period of high inflation the government of Atlantia decides to set a target of 0% inflation going forward. As the new assistant economic minister, you are tasked with critiquing this policy. Which criticism of the 0% inflation target is best supported by the economic literature
The best support against a 0% inflation target given by the economic literature is c. A 0% inflation target could lead to deflation.
Why is a 0% inflation target risky?If 0% inflation is targeted, the policy might be so effective that inflation becomes negative and deflation happens.
When deflation happens, the economy will experience hardships with lower production levels that will impact other sectors of the economy.
Options for this question include:
a. It is undisputed that too little inflation interferes with the downward adjustment of real wages.
b. Moderate to high inflation is popular among consumers.
c. A 0% inflation target could lead to deflation
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The approach used when overhead is applied to jobs by multiplying a predetermined overhead rate by the actual amount of the allocation base incurred by the jobs is called.
A method of costing whereby overhead costs are allocated to a job by multiplying the actual cost of the allocation base incurred by the job by a specified overhead rate is known as Normal Costing.
What is predetermined overhead rate?
An allocation rate known as the predetermined overhead rate allocates a specific amount of manufacturing overhead to job orders or goods.
Predetermined overhead is frequently calculated at the start of each reporting period by dividing the anticipated manufacturing overhead expenses by an allocation base.
The allocation base refers to the time taken to perform an activity such as the machine hours, direct labor hours etc.
Normal Costing also known as the product costing method in which the several cost such as the direct cost, material cost, manufacturing overhead cost as well as the work in progress is added.
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Kim, Chris, and Beth are all partners in a cosmetics firm. Kim is leaving the partnership and wants to sell her shares of the business, including the property owned by the partnership, to Chris and Beth. The three partners own the property with the right of survivorship should one or more of them die. The remaining partners are not interested in buying Kim's interests. Kim has been unable to find a buyer for her share of the partnership. She has now resorted to asking the court to either sell her shares or sell the entire property. What form of concurrent ownership applies
It is a Joint Tenancy form of concurrent ownership.
What is joint tenancy ownership?Joint tenancy is a type of shared ownership of property, where each and every owner has an undivided interest in the property.
This type of ownership provides a right of survivorship to the partners , which means that when one owner dies, the other owners hold the interest of the deceased owner.
Basically, it is a legal agreement in which two or more people own a property together with equal rights.
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CAT is an online forum where professionals who work with Caterpillar equipment and engines can exchange ideas and information, find answers, and get expert advice from their peers. To help members get the most out of the community, CAT members offer feedback and suggestions. All of the following are true about online simultaneous product development EXCEPT that the internet _______. a. allows for input from multiple partners b. does not allow for assessing new products c. allows for input from a variety of locations d. offers a variety of R
CAT is online forum for professionals who work with Caterpillar equipment and engines can exchange ideas and information where the internet "does not allow for assessing new products".
What is Classroom Assessment Techniques (CAT)?Teachers utilise classroom assessment techniques, sometimes known as CATs, to determine how well their students are understanding important concepts during a lesson or a course. The methods are intended to be a kind of formative assessment that also enables teachers to modify a lesson based on the requirements of pupils.
The advantages of using classroom assessment techniques are-
The focus on student learning is aided by classroom assessment for teachers. In order to address the needs of that group in terms of learning, teachers can better focus the class by identifying what the students have understood and what is unclear. This can include going over some topics again or devoting less time to others.To know more about formative assessment, here
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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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In order to maximize total utility for a selection of products, each time we should select the product with a MU/P ratio that is
In order to maximize the total utility we get from a product, we should select products that have a MU/P ratio that is higher.
How can we maximize utility?Utility can be maximized when we pick products that give us a higher utility per price.
The MU/P ratio shows the marginal utility we get from an item per the amount we spend on it. We should therefore pick products that have a higher ratio.
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Lorenzo and Lila own all of the Double L Corporation's stock. The stock of this corporation is not sold to the general public. Lorenzo and Lila own a(n)
Owners of the company.
What is a stock of a company?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.What is an owner of a company?A company's "owner" is a person who owns all of the shares. In contrast, a "co-owner" shares ownership of a business with one or more partners. The owner, who is frequently the company's founder, is free to run their business however they like.Therefore, Lorenzo and Lila are owners of the Double L Corporation.
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Consider these statements about annuities and perpetuities and decide which is accurate. Group of answer choices The future value of a perpetuity can be computed using low discount rates.. A perpetuity comprised of $200 monthly payments is worth more than an annuity comprised of $200 monthly payments, given an interest rate of 12 percent, compounded monthly. Most business loans are a form of an amortized loan. An ordinary annuity is worth more than an annuity due given equal annual cash flows for eleven years at 8 percent interest, compounded annually.
The accurate statements on annuities and perpetuities are:
A perpetuity comprised of $200 monthly payments is worth more than an annuity comprised of $200 monthly payments, given an interest rate of 12 percent, compounded monthly. Most business loans are a form of an amortized loan.What is true of annuities and perpetuities?A perpertuity's present value is:
= Amount / periodic rate
= 200 / (12% / 12 months)
= $20,000
This is larger than the present value of an annuity of the same amount if the payment period is not long.
Business loans come as amortized loans for the most part because the business will have to pay back a specific amount every period that includes interest and principal repayment.
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Ensuring that every fact fits with every other fact best describes: A. the impartiality characteristic a systems analyst needs during requirements determination. B. the reframing characteristic a systems analyst needs during requirements determination. C. the attention to details characteristic a systems analyst needs during requirements determination. D. the impertinence characteristic a systems analyst needs during requirements determination. E. the relaxing of constraints characteristic a systems analyst needs during requirements determination.
Ensuring that every fact fits with every other fact best describes: the attention to details characteristic a systems analyst needs during requirements determination.
What is requirement determination?The process of determining needs entails researching the current system in order to identify its requirements, functioning, and potential areas for improvement.
Requirement determination involves following activities:
The system is being examined, and its attributes are being recorded for future research.At the core of system analysis, fact-finding methods, prototyping, and computer-aided tools are used to record and describe system features.The important characteristics of requirement determination-
The first stage is acquiring information.The second stage is creating the draft.The third stage is to examine the draft.The Code is formally approved in step four.Presenting the Code is step five.Sixth step is implementing the Code.To know more about fact-finding technique to obtain various information, here
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Cinnamon Toast Crunch cereal and Just Right cereal are considered substitute goods. Accordingly, one could predict that, holding all else constant, if the price of Cinnamon Toast Crunch cereal increases, we would see: Select one: a. the demand curve for Just Right cereal shift to the left. b. the demand curve for Just Right cereal shift to the right. c. the demand curve for Cinnamon Toast Crunch cereal shift to the left. d. the demand curve for Cinnamon Toast Crunch cereal shift to the right.
b. the demand curve for Just Right cereal shifts to the right
What causes the demand curve to shift to the right?
When a factor other than price affects demand, the demand curve will shift. It happens when the price doesn't change but the demand for goods and services does.
If the determinant raises demand, the curve moves to the right. This indicates that even while the price remains the same, there is a greater demand for the commodity or service. The incomes of consumers will increase as the economy is flourishing. Despite the fact that prices haven't increased, people will purchase more of everything.
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Regulating banks and savings and loans differently (specifically limiting the amount of interest that a savings and loan can offer to potential savers) causes:
a: banks to have a competitive disadvantage
b: savings and loans to have a competitive advantage.
c: savings and loans to be equally competitive
d: savings and loans to have a competitive disadvantage
e: banks close
Regulating banks and savings and loans differently causes savings and loans to have a competitive disadvantage
What is the effect of the difference in regulation?When banks and savings and loans have different regulation, the party with the stricter regulation has a competitive disadvantage while the party with the less strict regulation has a competitive advantage.
Limiting the amount of interest that a savings and loan can offer to potential savers would lead to savers preferring the which can offer higher interests.
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Governments use tariffs in order to:
A. increase the cost of products imported from foreign countries.
B. promote completely free trade in all countries around the world.
C. invest government funds into a struggling domestic industry.
D. agree on the conditions of trade with another country.
PLEASE HELP :’)
Answer:Why do governments impose tariffs?
To protect newly established industries from total and premature collapse, the imposition of tax has to be made to curtail excessive demand for foreign-made goods.
Explanation:
Governments use tariffs in order to increase the cost of products imported from foreign countries. Thus the correct option is A.
What is Government?The government is referred to as an administrative body that helps to perform the function of the country by maintaining peace and order and implementing rules and laws described in the constitution and working for the welfare of its citizens.
If there were significant tariffs, the US would become less dependent on imports. By exploiting the significance of tariffs and raising taxes on imported items, domestic goods are given preference.
Tariffs is referred to taxes applied on imported goods that increase the cost of foreign goods in the country. Due to high price of foreign goods customer shift to domestic goods which helps in improving the economy.
Therefore, option A is appropriate.
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The owner of a national software company has been watching current economic information for the past two quarters and a rapid rise in demand for its software suites. Last month 30 new software engineers were hired to meet the demand. Even though these new hires will finish their project work in a few months, the owner plans to retain them in anticipation of future demand. Why is the owner making these type of decisions for the long-run
The owner is making this long-run decision based on his rational expectations of economic growth to meet future demands.
What are long term decisions?They are a strategic process that means designing an economic scenario based on perspectives, vision and organizational goals, with short-run decisions being the actions present to achieve long-run objectives.
Therefore, the owner is making long-run decisions in line with his expectations for the future of the business by looking at the current economic scenario.
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The government raises money on the federal level through which taxes? check all that apply.
The different ways the government raises money in the federal level are:
Income taxes, Tariff Taxes, Occupational Taxes, Excise Taxes, Corporate Taxes.What is Taxation?This refers to the process of collecting taxes from people in a given population in order to solve a social problem and increase the standard of living.
Hence, we can see that the government raises money through different types of taxes and they include: Income taxes, Tariff Taxes, Occupational Taxes, Excise Taxes, Corporate Taxes.
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