Answer:
$4,000
Explanation:
Calculation for what The overhead applied to a job completed during 2021 that used 200 direct labor-hours was
First step is to calculate The predetermined overhead rate
Predetermined overhead rate = $100,000/5,000 direct labor-hours
Predetermined overhead rate = 20 per direct labor-hour
Now let calculate The overhead applied to the job
Overhead applied to the job = $20 per direct labor-hours *200 direct labor-hours
Overhead applied to the job= $4,000
Therefore The overhead applied to a job completed during 2021 that used 200 direct labor-hours was $4,000
what is the main aims of forming a maize milling company
Answer:
to provide I
or produce mealie meal for the country and improve the country's production in food and farming.
How to make someone's hair fall out
Answer:
just pull it!
Explanation:
just pull the piece of hair with your hand
Accrued revenues: Multiple Choice At the end of one accounting period result in cash receipts in a future period. At the end of one accounting period often result in cash payments in the next period. Are also called unearned revenues. Are listed on the balance sheet as liabilities. Are recorded at the end of an accounting period because cash has already been received for revenues earned.
Answer:
At the end of one accounting period result in cash receipts in a future period.
Explanation:
Accrued revenues is money owed by customers for goods bought or services purchased.
Accrued revenue is recorded as an asset on the balance sheet as receivables.
For example, if a customer buys a dress and is yet to pay for the dress. the amount the customer is supposed to pay is recorded as an accrued revenue at the end of the accounting period
Unearned revenue is money received by a company for services that are yet to be rendered.
In addition, the direct machine hours (dmh) used to produce a unit of each product in each department were determined from engineering records, as follows: Commercial Residential Assembly Department 2.0 dmh 3.0 dmh Testing Department 6.0 1.5 Total machine hours per unit 8.0 dmh 4.5 dmh a. Determine the per-unit factory overhead allocated to the commercial and residential motors under the single plantwide factory overhead rate method, using direct machine hours as the allocation base.
Answer:
A. Per unit overhead allocated to Commercial $960
Per unit overhead allocated to Residential $540
B. Total Costs Commercial$1,100
Total Costs Residential $450
C. Option 2
Explanation:
a. Calculation to Determine the per-unit factory overhead allocated to the commercial and residential motors
First step is to calculate the Plantwide overhead rate
Plantwide overhead rate = 1,080,000 / 9,000
Plantwide overhead rate= $120 per machine hour
Now let calculate the Per unit overhead allocated to Commercial and Residential
Per unit overhead allocated to Commercial = 120 x 8
Per unit overhead allocated to Commercial = $960
Per unit overhead allocated to Residential = 120 x 4.5
Per unit overhead allocated to Residential = $540
b. Calculation to Determine the per-unit factory overhead allocated to the commercial and residential motors
First step is to calculate the Departmental overhead rate in Assembly and Testing
Departmental overhead rate in Assembly = 280,000 / 4,000
Departmental overhead rate in Assembly= $70 per machine hour
Departmental overhead rate in Testing = 800,000 / 5,000
Departmental overhead rate in Testing = $160 per machine hour
Now let calculate the Costs Allocated to Product using Department overhead rate
Costs Allocated to Product using Department overhead rate:
Commercial Residential
Assembly Department 140 210
(2 x 70=140) (3 X 70=210)
Testing Department 960 240
(160 X6=960) (160 X 1.5=240)
Total Costs $1,100 $450
(140+960=$1,100) (210+240=$450)
c. Based on the information given OPTION 2 which says that the management shall tend to consider SINGLE plantwide factory overhead rate methods reason been that this method helps to calculates cost very accurately taking into factor that overheads are evenly applied on basis of direct labor hours. Which is why OPTION 2 will be Recommend to management as a product costing approach, based on the analyses in (a) and (b).
how do I create a marketing plan
LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The following data pertain to one of its largest departments for the month of March 2021: Cost Retail Beginning inventory $ 46,000 $ 66,000 Purchases 213,000 406,000 Freight-in 15,558 Purchase returns 7,000 9,000 Net markups 6,400 Net markdowns 4,100 Normal breakage 9,000 Net sales 286,000 Employee discounts 2,400 Sales are recorded net of employee discounts. 2. Recompute the cost-to-retail percentage using the average cost method.
Answer:
Cost to retail ratio = 57.05%
Explanation:
Particulars Cost Retail
Beginning Inventory $46,000 $66,000
Add: Purchases $213,000 $406,000
Less: Purchases Return $7,000 $9,000
Freight In $15,558 -
Net Markups - $6,400
Good Avail. for Sales (Without markdowns) $267,558 $469,000
Cost to retail ratio = $267,558/$469,000
Cost to retail ratio = 0.570486
Cost to retail ratio = 57.05%
A manufacturer of programmable calculators is attempting to determine a reasonable free- service period for a model it will introduce shortly. The manager of product testing has indicated that the calculators have an expected life of 30 months. Assume product life can be described by an exponential distribution.
a. If service contracts are offered for the expected life of the calculator, what percentage of those sold would be expected to fail during the service period?
b. What service period would result in a failure rate of approximately 10 percent?
Answer:
a. P(failure before T) = 1 - e^(-(T/MTBF)).................(1)
Where e = value obtained from table, T = Length of service before failure, MTBF = 30, Mean time before failure = 30 months
P = 1 - e^(-(T/MTBF))
P = 1 - e^(-(30/30))
P = 1 - 0.3679
P = 0.6321
So, 63.21% of sold product would all during the service period if service contracts are offered for expected life of the calculator
b. Here, the value of P is given. P = 10% = 0.10
1 - e^(-(T/MTBF)) = 0.10
e^(-(T/30) = 0.90
T/30 = 0.10
T = 0.10*30
T = 3 months
So, the service period would be 3 month that result in failure rate of 10%
Suppose one-seventh of the employees of a certain company work in the Southeastern region. If the company employs 256 workers in that region, what is the total number of employees working for the company?
Answer:
1792
Explanation:
256 is 1 out of 7.
so 7 times 256 is 7 out of 7
256 x 7 = 1792
Langler, Inc., is evaluating two capital projects. Langler has a capital budget of $50 million. Project P has an internal rate of return of 24% and a net present value of $5 million. Project Q has an internal rate of return of 18% and a net present value of $12 million. Project P will cost $15 million, and Project Q will cost $48 million. Based on this information, Langler should accept:
Answer: Project Q
Explanation:
If the company can accept only one project, they should accept Project Q because it has a higher net present value than Project P. This is because a higher Net Present value takes precedence to IRR as it discounts cashflows at the company's cost of capital and is already adjusted for cost.
With the company budget at $50 million, accepting Project Q which costs $48 million means that they will be unable to accept Project P. That is fine because Project Q as earlier mentioned, provides a higher NPV.
what are the 4 P's of storytelling
Answer:
I believe it is People, Passion, Purpose and Product
Explanation:
Answer:
People, Passion, Purpose, and Product.
Explanation:
When crafting a good story you need to keep the following four elements in mind: People, Passion, Purpose, Product.
People – Your story should describe the role you play in people’s lives. Therefore, your story needs to resonate with the listener. To do so, first write for the emotions you want to elicit then find the words that help you convey them.
Passion – Effective storytelling helps erase doubts in a prospect’s mind. Since what you’re really doing when you’re agvocating is selling you and your industry, a properly crafted story can garner attention, dispel doubts and solidify the truth, help build critical relationships, and resonate enough to leave a lasting impression. Finding the fodder for a well-crafted story means drawing on the passion and belief you have in your life’s work and speaking from the heart.
Purpose – Stories can help increase the value of a product. In a 2009 experiment, a couple of researchers bought $129 worth of junk at garage sales then put it all up for sale on eBay, but only after they added a ‘background’ story about each piece. They ended up making $3,600 on $129 worth of stuff due to people connecting emotionally with each piece through the story. Your purpose as an agvocate is to not only spread correct information about Canadian agriculture, but to elevate the brand by demonstrating its value to individuals and society.
Product – Don’t focus solely on the product. While it might be the best thing since sliced bread (and I think we can all agree farming is pretty great – who doesn’t love or need to eat?!), an amazing product in and of itself doesn’t necessarily make a great story. The reason behind (the passion, the benefits) the product, however, can be captivating.
Type the correct answer in the box. Spell all words correctly.
Complete the sentence using the correct term.
Heavy industrialization is polluting a natural lake in a certain area. The lake is a habitat for various natural flora and fauna. The local government is looking for ways to improve the condition of the lake and make it a tourist attraction. They should seek the help of a(n)
Answer:
(i know this is late) im taking the test on plato and I think it's a hydrologist
Explanation:
Accounts receivable decreased $350,000 during the year. 2. Prepaid expenses increased $160,000 during the year. 3. Accounts payable to suppliers of merchandise decreased $300,000 during the year. 4. Accrued expenses payable decreased $90,000 during the year. 5. Administrative expenses include depreciation expense of $50,000. Prepare the operating activities section of the statement of cash flows using the direct method.
Answer:
Cash flow from Operating Activities
Net Income $1,030,000
Adjustment for Non Cash Items
Add Depreciation Expense $50,000
Adjustment for Working Capital Changes :
Decrease in Accounts receivable $350,000
Increase in Prepaid expenses ($160,000)
Decrease in Accounts payable ($300,000)
Decrease in Accrued expenses payable ($90,000)
Net Cash from Operating Activities $880,000
Explanation:
The Indirect method is required for this question. The Indirect method reconciles the Net Income to the Operating Cash flow by adjusting for 1. Non Cash items Previously included in Net income and 2. Changes in working capital items as shown above.
Match each business structure with the scenario that illustrates it.
Tiles
sole proprietorship
corporation
limited liability corporation
partnership
Pairs
Bob just finished school in auto mechanics. He and two
of his friends graduated at the top of their class and
made several good contacts in their community. They
just purchased a garage and plan to open their own
shop. They meet daily to decide how many employees
they need, how they will advertise, and how they will
divide the profits.
Sandra worked as a nurse in a major hospital for 20
years. She enjoyed her work, and was good at it, but
she didn’t like how short-term stays didn’t give her the
opportunity to help her patients with their health care
over time. She decides to start a home health care
business. Because she is well known as an excellent
nurse, Sandra has had no trouble finding eight patients
whom she visits daily to monitor their ongoing health.
She has decided to use her initial profits to buy a van so
she can transport medical equipment to patients when
needed.
Anita and Marco own three popular restaurants. They
are doing well financially but lately have begun to
worry about lawsuits because of food poisoning. It
seems that bacteria such as E.coli are in the news
quite often. Anita and Marco know that none of their
children want to take over the business when they
retire, and they have no interest in selling stock in
their business. They decide to transition their business
to a business structure that better meets their needs.
The Anderson sisters have built their 10 athletic stores
from the ground up. They know that the concept for
their stores is successful and have plans to expand
even urther. But they need money and professional
advice. The sisters decide to restructure their business
so they will be able to eventually sell stock and have
more people to advise them.
Answer:
Sample Answer
Explanation:
Executive Enterprises Inc. produces keyboard synthesizer workstations used in the production of movie sound effects. Until recently, they manufactured products in anticipation of sales orders based on historical data, which led to significant inventory stockpiling. Their average annual sales are $273 million, cost of goods sold is 66% of sales, and their inventory turnover ratio is currently 4.0.
If Executive Enterprises Inc. were to adopt a new inventory management system that allowed component parts to be delivered mere hours before they were required for assembly, the company would increase its inventory turnover ratio to 6.0. What would the reduction in inventory be if the company adopted this system?
a. $15.0 million
b. $9.0 million
c. $14.5 million
d. $10.0 million
Answer:
a. $15.0 million
Explanation:
COGS = 66%*Sales = 66% * $273 million = $180.18 million
Old inventory = COGS/Inventory Ratio = $180.18/4 = $45.045 million
New Inventory = COGS/Inventory Ratio = $180.18/6 = $30.03 million
Reduction in inventory = Old inventory - New inventory = $45.045 million - $30.03 million = $15.015 million = $15 million
Selected balance sheet and income statement information for EKG Corporation and AMP Company follows ($ millions). Company EKG Corp AMP Company 2017 Sales $37,006 47,409 2017 NOPAT $1,292 1,716 2017 Net Operating Assets $10,007 8,781 Compute the 2017 net operating asset turnover (NOAT) for each company. A) EKG NOAT: B) AMP NOAT: Page 7 of 17 2016 Net Operating Assets $9,437 7,818
Answer:
See below
Explanation:
Net operating asset turnover ratio is computed as;
= Net sales / Average net operating assets
Company EKG Corp.
Net operating asset turnover ratio = $37,006 / [($1,292 + $10,007)/2]
= $37,006 / $5,650
= 6.55
Corp AMP Company
Net operating asset turnover ratio = $47,409 / [($1,716 + $8,781)/2]
=$47,409 / $6,107
= 7.76
assume the cost of a college education would be to 325,000 when your child enters college 17 years. You presently have $51,000 to
Answer:
11.51 %
Explanation:
The computation of the interest rate is shown below:
As we know that
Amount = P (1 + rate)^number of years
$325,000 = $51,000 (1+r)^17
(1+r)^17 = $325,000 ÷ $51,000
(1+r)^17 = 6.372549
(1+r) = (6.372549)^1 ÷ 17
1 + r = 1.115097
r = 1.115097 - 1
r = 0.115097
= 11.51 %
Selected balance sheet information for the Wolf Company at November 30, and December 31, 2018, is presented below. The company uses the perpetual inventory system and all sales to customers are made on credit.
Nov. 30 Dec. 31
Debits Credits Debits Credits
Accounts receivable 9,900 2,900
Prepaid insurance 4,900 7,400
Inventory 6,900 5,900
Accounts payable 11,900 14,900
Salaries and wages payable 4,900 2,900
The following cash flow information also is available:
A. Cash collected from credit customers, $79,000.
B. Cash paid for insurance, $4,900.
C. Cash paid to suppliers of inventory, $59,000 (the entire accounts payable amounts relate to inventory purchases).
D. Cash paid to employees for salaries and wages, $9,900.
Required:
1. Determine the following for the month of December:
2. Prepare summary journal entries to record the month’s sales and cost of those sales.
Determine the following for the month of December:
a. Sales revenue
b. Cost of goods sold
c. Insurance expense
d. Salaries and wages expense
Answer:
Wolf Company
1. Determining the following for the month of December:
a. Sales Revenue = $72,000
b. Cost of goods sold = $63,000
c. Insurance Expense = $2,400
d. Salaries & Wages Expense = $11,900
2. Journal Entries to record the month's sales and cost of sales:
Debit Accounts Receivable $72,000
Credit Sales Revenue $72,000
To record the sales for the month of December.
Debit Cost of Goods Sold $63,000
Credit Inventory $63,000
To record the cost of goods sold for the month of December.
Explanation:
a) Data and Calculations:
List of balances:
Nov. 30 Dec. 31
Debits Credits Debits Credits
Accounts receivable 9,900 2,900
Prepaid insurance 4,900 7,400
Inventory 6,900 5,900
Accounts payable 11,900 14,900
Salaries and wages payable 4,900 2,900
Transactions:
A. Cash $79,000 Accounts Receivable $79,000
B. Prepaid insurance $4,900 Cash $4,900
C. Accounts payable $59,000 Cash $59,000
D. Salaries & Wages Payable $9,900 Cash $9,900
T-accounts:
a. Sales Revenue:
Accounts receivable
Accounts Titles Debit Credit
Beginning balance 9,900
Sales revenue 72,000
A. Cash 79,000
Ending balance 2,900
b. Cost of goods sold
Accounts Payable
Accounts Titles Debit Credit
Beginning balance 11,900
Cash 59,000
Purchases 62,000
Ending balance 14,900
Cost of goods sold:
Inventory
Accounts Titles Debit Credit
Beginning balance 6,900
Purchases 62,000
Cost of goods sold 63,000
Ending balance 5,900
c. Insurance Expense:
Prepaid Insurance
Accounts Titles Debit Credit
Beginning balance 4,900
Cash 4,900
Insurance expense 2,400
Ending balance 7,400
Salaries & Wages Expense
Salaries & Wages Payable
Accounts Titles Debit Credit
Beginning balance 4,900
Cash 9,900
Salaries and Wages 11,900
Ending balance 2,900
How do working conditions and company's image motivate employees?
Answer:
Work environment, in a nutshell, not only contributes to higher performance of employees, but also influences motivation of employees. Working environment influences a person in his/her work, work process, hence outcomes of work, interest in the outcomes, and frequently influences private life of a person as well.
Explanation:
Employee motivation is key to an organisation's success. It's the level of commitment, drive and energy that a company's workers bring to the role everyday. Without it, companies experience reduced productivity, lower levels of output and it's likely that the company will fall short of reaching important goals too.
Answer:
Employee motivation is key to an organisation's success. It's the level of commitment, drive and energy that a company's workers bring to the role everyday. Without it, companies experience reduced productivity, lower levels of output and it's likely that the company will fall short of reaching important goals too.
pleASe mark my answer as brainlist
XYZ Company completed the following selected transactions:
2018
Jul. 1 Sold merchandise inventory to Go-Mart, receiving a $43,000, nine-month, 16% note. Ignore Cost of Goods Sold.
Oct. 31 Recorded cash sales for the period of $23,000. Ignore Cost of Goods Sold.
Dec. 31 Made an adjusting entry to accrue interest on the Go- Mart note.
31 Made an adjusting entry to record bad debts expense based on an aging of accounts receivable. The aging schedule shows that $14,900 of accounts receivable will not be collected. Prior to this adjustment, the credit balance in Allowance for Bad Debts is $10,700.
2019
Apr. 1 Collected the maturity value of the Go-Mart note.
Jun. 23 Sold merchandise inventory to Allure, Corp., receiving a 60-day, 6% note for $7,000. Ignore Cost of Goods Sold.
Aug. 22 Allure, Corp. dishonored its note at maturity; the business converted the maturity value of the note to an account receivable.
Nov. 16 Loaned $20,000 cash to Tench, Inc., receiving a 90-day, 8% note.
Dec. 5 31 Collected in full on account from Allure, Corp. Accrued the interest on the Tench, Inc. note.
Record the transactions in the journal of XYZ. Explanations are not required. (Round to the nearest dollar.)
Provide all of the journal entries:
Answer:
2018
Date Account Tiles Debit$ Credit$
Jul.1 Notes receivable- Gp-Mart 43,000
Sales 43,000
Oct.31 Cash 23,000
Sales 23,000
Dec.31 Interest Receivable 3,440
Interest revenue 3,440
(43,000*16%*6/12)
Dec.31 Bad Debt Expense 4,200
Allowance for Bad Debt 4,200
(14,900 - 10,700)
2019
Date Account Tiles Debit$ Credit$
Apr.1 Cash 48,160
Notes receivable- Gp-Mart 43,000
Interest Revenue 1,720 (43,000*16%*3/12)
Interest Receivable 3,440
Jun.23 Note Receivable- Allure, Corp 7,000
Sales 7,000
Aug.22 Accounts receivable -Allure, Corp 7,070
Note Receivable- Allure, Corp 7,000
Interest revenue 70 (7,000*6%*60/360)
Nov.16 Note receivable - Tench . Inc 20,000
Cash 20,000
Dec.5 Cash 7,070
Accounts receivable -Allure, Corp 7,070
Dec.31 Interest Receivable 200
Interest revenue 200
(20,000*8%*45/360)
On January 1, 2021, Oliver Foods issued stock options for 47,000 shares to a division manager. The options have an estimated fair value of $7 each. To provide additional incentive for managerial achievement, the options are not exercisable unless Oliver Foods' stock price increases by 6% in four years. Oliver Foods initially estimates that it is not probable the goal will be achieved. How much compensation will be recorded in each of the next four years
Answer:
$82,250
Explanation:
the compensation per year = 47,000 x 1/4 x$7 per stock = $82,250
The compensation must be allocated proportionally to every year included in the plan, regardless of the conditions specified by the plan. The stock price already implicitly includes the most probable market conditions for the company, so that is the price that has to be used to record the compensation plan.
Drag the tiles to the correct boxes to complete the pairs.
Match the correct economic terms to their descriptions.
Federal government's way to influence the economy through taxes
Federal reserve's tool to influence the money supply in the economy
A market where firms buy services related to production
A market where finished goods and services are traged
As a company owner, you are trying to grow your party supply sales by reaching new customers. You know most of your customers are college students in their early 20s, but you conduct more research of your sales and discover customers who are business with events. This market is located within a 25 mile radius, they are mid- to small-sized companies with main holiday events and smaller birthday and retirement parties. You have just contacted customer:_________
A) targeting
B) segmentation
C) customization
Answer:
B)segmentation
Explanation:
Market segmentation can be regarded as process involving sectioning of heterogeneous market into a homogenous segments using some kind of parameters such as psychographic, geographic as well as
behavioural and others factors
Cover Me, Inc. sells umbrellas in three cities. Management assumes that annual rainfall is the primary determinant of umbrella sales, and it wants to generate a linear regression equation to estimate potential sales in other cities. Given the data below, what is the estimated amount of sales for 96 inches of rain utilizing a linear regression equation? Round to nearest whole number.
Rainfall in X Sales in Dollars of Umbrellas
City A 35 2800
City B 30 2000
City C 12 800
Answer:
7602.28
Explanation:
Given the data:
Rainfall in X Sales in Dollars of Umbrellas
City A 35 2800
City B 30 2000
City C 12 800
Using the linear regression calculator :
The linear model obtained for the data is :
y = - 226.424 + 81.549x
Using the model, the predicted sales for 96 inches of rain will be:
X = 96
y = - 226.424 + 81.549(96)
The predicted sales is 7602.28
A yield can be paid in form of what
Answer:
Interest and dividends.
Explanation:
Rate of return can be defined as the percentage of an interest or dividends earned on an amount of money that is invested.
In Financial accounting, a return refers to the amount of profit generated by an investor on an investment over a specific period of time.
Basically, the rate of return which is typically expressed as a percentage of the initial costs of an investment can either be a gain or a loss on an investment. Therefore, a positive rate of return on an investment over a specific period of time, simply means that an investor is making a profit (gains) while a negative rate of return on an investment over a specific period of time, indicates that the investor is running at a loss.
A yield can be defined as an amount of money gained from an investment.
Hence, a yield can be paid in form of interest and dividends.
Calico Corporation produced 2,000 units in Job 903. The following data is provided for Job 903 for the year:
Direct materials used $2,300
Direct labor costs $700
Actual manufacturing overhead rate per direct labor hour $17.15
Predetermined manufacturing overhead rate per direct labor hour $18.30
Direct labor hours used in Job 903 35
Direct labor rate per hour $20
Required:
What is the total cost of Job 903?
Answer:
Explanation:
$2,300 + $700 + ($18.30 X 35) = $3,640.50
DM used + DL + actual MOH per Dl hour* dl hours
On November 1, 2021, Aviation Training Corp. borrows $51,000 cash from Community Savings and Loan. Aviation Training signs a three-month, 6% note payable. Interest is payable at maturity. Aviation’s year-end is December 31.
Required:
1. Record the necessary entries .
2. Record the issuance of note.Record the adjustment for interest.
3. Record the repayment of the note at maturity.
Answer:
1. November 01,2021
Dr Cash 51000
Cr Notes Payable 51000
2. December 31,2021
Dr Interest expense 510
Cr Interest Payable 510
3. February 01,2022
Dr Interest expense 510
Dr Interest Payable 255
Dr Notes Payable 51000
Cr Cash 51,765
Explanation:
Preparation of to record the necessary entries
1. November 01,2021
Dr Cash 51000
Cr Notes Payable 51000
(Being to Record the issuance of note)
2. December 31,2021
Dr Interest expense 510
(51,000*6%*2/12)
Cr Interest Payable 510
(Being to record the adjustment for interest)
3. February 01,2022
Dr Interest expense 510
Dr Interest Payable 255
(51,000*6%*1/12)
Dr Notes Payable 51000
Cr Cash 51,765
(510+255+51000)
(Being to Record the repayment of the note at maturity)
Suppose the current price of a good is $55. At this price, the quantity supplied is 165 units, and the quantity demanded is 240 units. For every $1 increase in price, the quantity supplied increases by 5 units and the quantity demanded decreases by 10 units. At the current price, the quantity demanded isgreater than the quantity supplied. This means that the market is currently experiencing asurplus . In order to adjust, the market price willincrease until the quantity demanded and quantity supplied are equal. The result is an equilibrium quantity of and an equilibrium price of $ .
Answer:
190
$60
Explanation:
Equilibrium price is the price at which quantity demanded equals quantity supplied
Equilibrium quantity is the quantity at which quantity demanded equals quantity supplied
Let x = change in quantity supplied
the following equations can be derived from the question
165 + 5x = total change in quantity supplied
240 - 10x = total change in quantity demanded
At equilibrium, quantity demanded equals quantity supplied. So,
165 + 5x = 240 - 10x
collect like terms and solve for x
15x = 75
x = 5
this means that quantity supplied would have to increase 5 times : 165 + 5(5) = 190
and quantity demanded would have to decrease 5 times : 240 + 10(5) = 190
equilibrium quantity is 190
equilibrium price = $55 + 1(5) = $60
Suppose that France and Sweden both produce oil and cheese. France's opportunity cost of producing a pound of cheese is 3 barrels of oil while Sweden's opportunity cost of producing a pound of cheese is 11 barrels of oil.
By comparing the opportunity cost of producing cheese in the two countries, you can tell that ? has a comparative advantage in the production of cheese and ? has a comparative advantage in the production of oil.
Supposed that France and Sweden consider trading cheese and oil with each other. France can gain from specialization and trade as long as it receives more than ? of oil for each pound of cheese it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than ? of cheese for each barrel of oil it exports to France. Based on your answer to the last question, which of the following terms of trade (that is, price of cheese in terms of oil) would allow both Sweden and France to gain from trade?
a. 6 barrels of oil per pound of cheese
b. 13 barrels of oil per pound of cheese
c. 4 barrel of oil per pound of cheese
d. 2 barrels of oil per pound of cheese
Answer:
FRANCE has a comparative advantage in the production of cheese and SWEDEN has a comparative advantage in the production of oil.
Comparative advantages result form the lowest opportunity costs. In this case, France's opportunity cos tot produce cheese is lower, while Sweden's opportunity cost of producing oil is lower.France can gain from specialization and trade as long as it receives more than 3 BARRELS of oil for each pound of cheese it exports to Sweden. Similarly, Sweden can gain from trade as long as it receives more than 1/11 POUNDS of cheese for each barrel of oil it exports to France.
Based on your answer to the last question, which of the following terms of trade (that is, price of cheese in terms of oil) would allow both Sweden and France to gain from trade?
a. 6 barrels of oil per pound of cheese c. 4 barrel of oil per pound of cheeseAmy borrowed $10,500 to purchase a new Toyota Yaris and agreed to pay back $14,320 in
220days. What ordinary interest rate was she paying? (Round your answer to the pearest tenth
of a percent.)
Answer: 60.36%
Explanation:
Interest = Amount - Principal
= 14320 - 10500
= 3820
Time = 220 days
Rate = Unknown
Interest = PRT/100
3820 = (10500 × R × 220/365)/100
3820 = (10500 × R × 0.6027397)/100
3820 = 6328.7671R/100
Cross multiply
3820 × 100 = 6328.7671R
R = 382000/6328.7671
R = 60.36%
The ordinary interest rate was 60.36%
The following data is available for Everest Company:
Credit Sales $1,702
Net Income $112
Total Current Assets $366
Total Current Liabilities $226
Accounts Receivable, current year $160
Accounts Receivable, prior year $156
Total Stockholders' Equity, current year $550
Total Stockholders' Equity, prior year $500
Retained Earnings, current year $366
Retained Earnings, prior year $346
Market price per share $50
Average Number of Common Shares Outstanding during year 46
Required: Compute the following ratios:
A) current ratio
B) average collection period in days
C) return on stockholders' equity
D) price-earnings ratio
E) dividend yield
Answer:
a. Current ratio = Total current assets / Total current liabilities = $366 / $226 = 1.62 to 1
b. Average receivable = (Beginning receivables + Ending receivables) / 2 = ($156 + $160) / 2 = $158
Average collection period = Number of days in year / Credit sales * Average accounts receivable = 365 / $1,702 * $158 = 33.88 days
c. Average Stockholder's equity = (Beginning equity + Ending equity) / 2 = ($500 + $550) / 2 = $525
Return on stockholder's equity = Net income / Average stockholder's equity = $112 / $525 = 21.33%
d. Earnings per share = Net income / Common shares outstanding = $112 / 46 = $2.43 per share
Price earnings ratio = Market price per share / Earnings per share = $50 / $2.43 = 20.58 times
e. Dividends per share = Dividends / Common shares outstanding = $92 / 46 = $2.00 per share
Dividend yield ratio = Dividend per share / Market price per share = $2.00 / $50 = 4.00%
Workings
Beginning retained earnings $346
Add: Net income $112
Less: Ending retained earnings -$366
Dividends $92