Answer: Inventory turnover ratio =10.52
Days sale inventory =34.70 days
Explanation:
Inventory turnover ratio = Cost of goods sold / Average inventory for same period
First Calculating Average inventory, we have that
Beginning inventory+ Ending inventory / 2
= ($92000 + $78000)/2 = $170,000 /2 = $85,000
Therefore, Inventory turnover ratio = $894, 000 / $85,000 = 10.5178 rounded to 10.52
2) Days' sale inventory = 365 / Inventory turnover ratio
= 365 / 10.52 = 34.70 days
Answer:
1. 10.52 times
2. 34.70 days
Explanation:
(1) the inventory turnover ratio
the inventory turnover ratio = Cost of goods sold ÷ Average Inventory
= $894,000 ÷ ( $92,000 + $ 78,000)/2
= 10.52 times
(2) the number of days' sales in inventory
number of days' sales in inventory = Average Inventory ÷ (Cost of goods sold/365)
= $85,000 ÷ ($894,000 /365)
= 34.70 days
The quantity demanded of frozen strawberries decreased from 1,800 to 1,550 when the price of fresh strawberries decreased from $2.35 to $2.15. What is the cross-price elasticity of demand for the strawberries
Answer:
1.63
Explanation:
Cross price elasticity = percentage change in quantity demanded of frozen strawberries / percentage change in price of fresh strawberries
percentage change in quantity demanded of frozen strawberries = 1550/ 1800 - 1 = -0.1389 = -13.89%
percentage change in price of fresh strawberries = 2.15 / 2.35 - 1= -0.0851 = -8.51%
-13.89% / -8.51% = 1.63
The chart indicates the tasks of three individuals working in the Human Services career cluster.
Daily Tasks of Three Employees in Human Services
Which best describes the pathway each works for?
A Kaia is in Early Childhood Development, Nori is in Family and Community Services, and Erik is in Consumer Services.
B Kaia is in Family and Community Services, Nori is in Personal Care Services, and Erik is in Personal Care Services.
C Kaia is in Early Childhood Development, Nori is in Counseling and Mental Health Services, and Erik is in Personal Care Services.
D Kaia is in Counseling and Mental Health Services, Nori is in Consumer Services, and Erik is in Family and Community Services.
In the human services career cluster, tasks including counselling and mental health services, family and community services, personal care, and consumer services are all related to addressing human needs. Hence option C is correct .
What is Human Services career cluster ?Workers in human services provide care for others by attending to their psychological, social, and physical needs. They work to promote safe, healthy communities and higher quality of life. These professionals can be found in a range of places, including barbershops, spas, daycare facilities, hospitals, colleges and universities, or government organisations.
The Human Services Cluster offers different job paths:
Services for Mental Health and Counseling
Examples of careers in this field: Psychologist with clinical or counselling experience, sociologist, career coach, school counsellor; Mental health counsellor, substance abuse and behavioural disorder counsellorResidential Advisor; Marriage, Child, and Family Counselor; Licensed Professional Counselor; Vocational Rehab Counselor; Employment Counselor;
Services for Personal Care
Examples of careers in this field: Barber, cosmetologist, hairdresser, manicurist, funeral director, mortician, personal and home care assistant, spa attendant, personal trainer, and massage therapist
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Every month, each employee in your department is expected to give a brief oral presentation on the status of his or her ongoing projects. However, your department has recently hired an employee who has a severe speech impediment that prevents people from understanding most of what he has to say. As assistant department manager, how will you resolve this dilemma
Answer:
I will resolve it by being a mentor, Provide coaching and assistance, Identify the limitations of speech impediment and monitor and take some/ do some try out presentation with him to see his growth rate.
Explanation:
For any organization to succeed, teem building is very important. Helping each other out of their weaknesses can make any unit or department to succeed. Failure for one is a failure for all in a team. Improving performance of your team by helping the employee which is ur team member in his communication skills. Provide assistance to the employee by recognizing what is wrong, what is the solution and help him/her every step of the way. Communication is done when the receiver understand what is being pass so help the employee in his/her communicating skills and how to make a good presentation despite his/her defeat or shortcomings.
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
Answer: a. $3925; b. $1430
Explanation:
Your question isn't complete but here's an example relating to the question you asked.
Simpson is a single individual under 65 who is employed full-time by Duff Corporation. This year Simpson reports AGI of $54,200 and has incurred the following medical expenses:
Dentist charges $1,410
Physician's charges $1,890
Optical charges $525
Cost of eyeglasses $465
Hospital charges $2,300
Prescription drugs $385
Over-the-counter drugs $695
Medical insurance premiums (not through an exchange $1005
a. Calculate the amount of medical expenses that will be included with Simpson's itemized deductions after any applicable limitations.
To do this, we need to calculate the qualified medical expenses and this will be the addition of all the expenses given in the question except the over the counter drugs. This will be:
Dentist charges $1,410
Physician's charges $1,890
Optical charges $525
Cost of eyeglasses $465
Hospital charges $2,300
Prescription drugs $385
Medical insurance premiums $1005
Total = $7990
Simpson's medical expense deduction will now be:
= $7990 - (7.5% × $54,200)
= $7990 - (0.075 × $54,200)
= $7990 - $4065.
= $3925.
b. Suppose that Simpson was reimbursed for $555 of the physician's charges and $1,940 for the hospital costs. Calculate the amount of medical expenses that will be included with Simpson’s itemized deductions after any applicable limitations.
To solve this, we calculate the medical expenses which has already been calculated as $7990 in (a), we then deduct both the reimbursement of ($555 + $1940) = $2495 and the floor limit of $4065. This will be:
= $7999 - $2495 - $4065
= $1430
Why is it important to dress for success at a job interview?
Answer:
For a variety of reasons, it is critical to dress for success during an interview. However, the most important reason is to make it appear as though you are serious about getting the job, or in other words, that you are not wasting your time. If you don't dress professionally or for success, the interviewer may not perceive you as hardworking, and you may lose the job.
Explanation:
X-1 Corp's total assets at the end of last year were $490,000 and its EBIT was 52,500. What was its basic earning power (BEP) ratio? a. 13.07% b. 11.57% c. 10.71% d. 10.29% e. 12.86%
Answer:
10.71%
Explanation:
Calculation for basic earning power (BEP) ratio
Using this formula
Basic earning power (BEP) =EBIT/Total assets
Let plug in the formula
Basic earning power (BEP)=$52,500/$490,000
Basic earning power (BEP)=0.1071*100
Basic earning power (BEP)=10.71%
Therefore the basic earning power (BEP) ratio will be 10.71%
3. A certain brand of breakfast cereal increases its price by 20%, while other brands keep their prices unchanged. The quantity of cereal sold by the brand that increases its price declines, and the quantity sold by the other brands increases. In this case, the cross price elasticity of demand between the cereal of the brand that increases its price and the cereals produced by other brands is:
Answer:
greater than 0
Explanation:
As we know that in the case of the substitute goods when the price of the one good rises the demand for other good rises. In the given situation, cereal is a substitute goods and for the same, the cross elasticity is positive also more than zero
Therefore as per the given situation, it is greater than zero and the same is to be considered
Standard costs can be used by management to assess the reasonableness of actual costs incurred. Question 1 options:
Answer: True
Explanation:
Actual costs to be business are impossible to be known with complete certainty before the business embarks on a project yet the business will still need to budget and include costs in that budget. They would need figures for cost for that budget.
This is why Standard costs are important. Being estimates, they will enable a company to be able to assess the reasonableness of actual costs to be incurred and act accordingly.
With an annual demand of 2,400 units, daily demand of 10 units, and daily production rate of 40 units, a company has determined that each production run will be for 200 units. If production starts when the inventory level is at zero, how many units would actually be in the warehouse at the end of the first day of production? (Round your answer to the nearest unit.)
Answer:
30 units
Explanation:
Calculation for how many units would actually be in the warehouse
Using this formula
Number of units=Daily production rate-Daily demand
Let plug in the formula
Number of units= 40 units - 10 units
Number of units= 30 units
Therefore the numbers of units that would actually be in the warehouse at the end of the first day of production is 30 units
2) The farmer pays 15 cents for wheat seeds. When the wheat is grown and harvested, the farmer sells it to the miller for 30 cents, who makes flour and sells the flour to the baker for 60 cents. The baker makes bread and sells it to the grocer for 90 cents, and the grocer sells it to a family for $1.25. The contribution to GDP is
Answer:
$1.25
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
services not rendered to oneself
Activities not reported to the government
illegal activities
sale or purchase of used products
sale or purchase of intermediate products
the wheat seeds and flour are intermediate goods and are not included in the calculation of GDP
LAR Corp. purchased a commercial dishwasher by paying cash of $8,000. The dishwasher's fair value on the date of the purchase was $10,000. The company incurred $400 in transportation costs, $600 installation fees, and paid $300 annual insurance on the equipment. For what amount will LAR record the dishwasher
Answer:
9,000
Explanation:
The original cost of an asset takes into consideration all of the items that can be attributed to its purchase and to putting the asset to use.
Amount at which dishwasher is recorded = Cost + Transportion cost + Installation fee
Amount at which dishwasher is recorded = $8,000 + $400 + $600
Amount at which dishwasher is recorded = $9,000
Note: Insurance is recorded as an expense.
How does Porter's five forces analysis describe the food industry in which Dunkin' Donuts and Starbucks compete? What are the strategic implications for Dunkin' Donuts?
Answer:
For Dunkin Donuts, three forces are low, and two forces are high.
The threat of substitutes and the rivalry among existing players are high, mainly because the products that Dunkin sells are easy to substitute, and there is stiff competition in the market.
The bargaining power of consumers, of suppliers, and the threat of new entrants are low. Better relationships with customers and suppliers are recommended for this.
For starbucks, the threat of subsitutes is high because coffee can be replaced for chocolate or tea.
The bargaining power of suppliers is low because there are many coffee producers in the world.
The bargaining power of customers is also low, although the do have some price sensitivity.
The threat of new entrants is low because there are economies of scale, brand issues, and supplying issues to be taken into account.
And the competition among existing players is high.
Explanation:
A production department's output for the most recent month consisted of 8,400 units completed and transferred to the next stage of production and 5,400 units in ending Work in Process inventory. The units in ending Work in Process inventory were 60% complete with respect to both direct materials and conversion costs. Calculate the equivalent units of production for the month, assuming the company uses the weighted average method.
Answer:
Equivalent units of production = 11,640 units
Explanation:
Equivalent units of production = Completed and transferred unit + Ending Work in Process inventory*60%
Equivalent units of production = 8,400 + (5,400 * 60%)
Equivalent units of production = 8,400 + 3,240
Equivalent units of production = 11,640 units
Discuss the three most common depreciation methods used in business practice. Why would a company choose one method over another
Answer:
The four most common depreciation methods are:
straight line: the simplest to calculate, you just divide the net depreciable value (purchase cost - salvage value) by the number of useful years. This method provides a stable depreciation expense, and is mandatory when you depreciate certain fixed assets like buildings. units of production: used by mines, oil companies and other extracting companies. First you must calculate total reserves or total useful life in units and then you divide the total cost by the total units in order to determine depreciation rate per unit. sum-of-years-digits: type of accelerated depreciation where the depreciable value is multiplied by a fraction of the asset's useful life. It depreciates assets faster than straight line, but not as fast as double declining method. double-declining balance: is a type of accelerated depreciation that increases depreciation expense during the first periods. It is calculated by doubling the calculation made for the straight line method. It lowers taxes during the first years since it increases depreciation expense.Nakia is trying to decide how to structure her business. She knows that it is important for her to make money selling hair care products to people who care about the environment. Which of the following would you recommend based on her business goals?
a) Make hair products that hurt the environment, and donate any extra money to non-profits
b) Write a mission statement that says her hair care line is sustainable, even if it isn’t
c) Start a non-profit organization that helps the environment
d) Sell a sustainable hair care product and work to be certified as a benefit-corporation
Based on her business goals it is recommended that she should Sell a sustainable hair care product and work to be certified as a benefit corporation. Thus the correct option is D.
What is Business?An economic activity that involves the exchange of goods and services with teh help of buying and selling with the objective to gain some profit is called Business.
In the given case it is indicated that Nakia is trying to structure her business by selling hair care products to people who care about the environment which helps in making revenue.
In order to generate more revenue and better customer satisfaction she should sell a sustainable hair care product that does not cause any harm to the environment and succeed in the expectations of the customer.
Therefore, option D is appropriate.
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Mark purchased 100 shares of ABC stock for $25 per share and sold this same stock two years later for $28 per share. Be paid commissions of $50 when he purchased the stock and $55 when he sold the stock. No dividends were paid during the period he owned ABC. Mark's current income from this investment is ________, and his capital gains were __________.
Answer:
1. Mark's current income from this investment is $2800
2. His capital gains =sales- total cost= 2800-2605=$195
Explanation:
Step one:
Given data
Amount of shares= 100
price per share= $25
cost of shares = 100*25= $2500
commission paid= $50
commission paid after sales= $55
total cost of shares= $2500+50+55= $2605
Step two:
sale made from selling the shares= 28*100= $2800
1. Mark's current income from this investment is $2800
2. His capital gains =sales- total cost= 2800-2605=$195
g What will IT operations look like when they have attained operational maturity and what are the processes by which maturity is achieved.
Answer:
Operational Level Maturity happens when a company has been able to create and sustain a system that allows its operations to run on "autopilot". At this level, the management is no longer distracted or weighed down by operational details.
It is said that there are different levels of Operational Maturity. The highest of them features a concentration on the setting of goals, creating and managing budget, and planning for the long haul.
To achieve Operational Maturity, it is required for the leadership to look at investment into technology (that helps to simplify, secure and standardize processes);
The process of OML takes time. Time taken can be reduced by continuous learning, flexibility etc
Cheers
Concord Co. purchased goods with a list price of $173,700, subject to trade discounts of 20% and 10%, with no cash discounts allowable. How much should Concord Co. record as the cost of these goods
Answer:
The cost of these goods is $125,064
Explanation:
The computation of the cost of these goods is shown below:
= Purchase price - trade discount - trade discount
= $173,700 - $173,700 × 20% - ($173,700 - $34,740) × 10%
= $173,700 - $34,740 - $138,960 × 10%
= $173,700 - $34,740 - $13,896
= $125,064
hence, the cost of these goods is $125,064
And, the same is to be considered
We simply applied the above formula
In the marketing research process, what step happens after marketers define
the problem?
O A. They interpret the data and make recommendations.
B. They define the problem.
O C. They develop a research design.
O D. They analyze and interpret the data.
IBAT
Answer:
C the develop a Research Design
g Which player is likely to have higher bargaining power: an established company shopping around for a new parts supplier, or a start-up company trying to sell its parts
Answer: An established company shopping around for a new parts supplier
Explanation:
A well established company that is shopping around for a new parts supplier will have greater bargaining power as more powerful companies usually do. This is because with well established companies, it is advantageous for suppliers to be the company's preferred suppliers as they will be sure that they have a stable consumer that will continually patronize them.
This is unlike a start-up company that is trying to sell its parts. As they are still at an early stage, they will have to offer less prices than already established suppliers in order to capture market share. They are therefore in a worse off position to negotiate.
38. Primus, Inc., owns all outstanding stock of Sonston, Inc. For the current year, Primus reports net income (exclusive of any investment income) of $600,000. Primus has 100,000 shares of common Page 310stock outstanding. Sonston reports net income of $200,000 for the period with 40,000 shares of common stock outstanding. Sonston also has 10,000 stock warrants outstanding that allow the holder to acquire shares at $10 per share. The value of this stock was $20 per share throughout the year. Primus owns 2,000 of these warrants. What amount should Primus report for diluted earnings per share
Answer:
DEPS $7.82 per share
Explanation:
Diluted Earnings per share is the further modified version of Earnings per share. It is the monetary value of company's earnings per each outstanding share. Diluted earnings per share is calculated by excluding the convertible securities.
Net Income of Primus $600,000
Net Income of Sonston $200,000
Total income attributable to shareholders $800,000
Total Shares after the warrants conversion $105,000
DEPS : 800,000 / 105,000 = $7.82
Warrants conversion:
10,000 warrants *$10 / $20 = 5000 shares
Cost of goods sold reports the: Multiple Choice cost of merchandise purchased. cost times the quantity of goods sold. cost of merchandise available to sell. selling price times the quantity of goods sold.
Answer:
cost times the quantity of goods sold.
Explanation:
Marginal Utility per Dollar IV. If Ashyra has $40 to spend on potatoes and clams, then the utility-maximizing combination is _____ pound(s) of clams and _____ pound(s) of potatoes.
Answer:
The information about Ashyra's marginal utility is missing, so I looked for a similar question and found the attached image:
If Ashyra has $40 to spend on potatoes and clams, then the utility-maximizing combination is 2 pound(s) of clams and 6 pound(s) of potatoes.
You have to obtain a combination were both marginal utilities per dollar are similar:
1 pound of clams and 4 pounds of tomatoes yield a total utility = 51.8 utils, at this level the marginal utility per dollar of clams is 1.88 and 1.75 for potatoes (not equal, but similar). But at this level, Ashyra will only spend $24, so she can buy more goods.
2 pounds of clams and 6 pounds of tomatoes yield a total utility = 72 utils, at this level the marginal utility per dollar of clams is 1.25 and 1.13 for potatoes (not equal, but similar). At this level, Ashyra will spend $40, so she can't buy more goods.
Which 2 statements are correct about using the client details and dashboard screens of QuickBooks Online Accountant and working with client company files
Answer:
You can import QuickBooks Online Trial Balance data into ProConnect Tax Online to prepare tax returns via the client dashboard
You can start a new tax return from the client dashboard for non QuickBooks Online clients or clients that are using QuickBooks Online
Explanation:
While using the client details and the dash borad screens of an online accountant who are working with the client files should do the importing of the data related to the trial balance into the proconnect tax so that the tax returns could be prepared
Also the new tax return could be started from the client dashboard via using the quick books online
hence, these two statements are correct
1. Generally speaking, the lowest level in the WBS is referred to as: A. Level 3 B. Level 4 C. Level 5 D. The work package
Answer:
D)The work package
Explanation:
WBS(work breakdown structure) helps to bring down the project scope to deliverables, it can be applied to tasks, project as well as programs. It defines, and bring about organization of the work. WBS has different levels and each level is unique, with the highest level having "project ultimate goal" follow by another level of "project objectives" follows by another level of project outputs and activities. Generally speaking, the lowest level in the WBS is referred to as work package. work package are also known as "terminal element"of a WBS whereby the deliverables is been decomposed to different components.
Explain how owning and running a food truck might impact your sales and costs (Explain both variable and fixed costs).
Answer:
Owning a food truck will result in initial capital expenditure but it will save future transportation costs to the company.
Explanation:
Buying the truck is initially expensive as it is a capital expenditure but in future company will be able to save huge transportation costs and revenue expenditures. When the company is closing the business it could earn some money from the salvage value of the truck but if the company pays out rentals or transportation cost it will not be able to recover a single penny. Buying a truck is initial fixed expenditure but it will save routine variable cost to the company.
A company in College Station is just starting to make a brand new product it has never made before. It has completed two units so far. The first unit took 32 hours to complete and the next unit took 26 hours. Based only on this information, what would be the estimate of the learning percentage in this process
Answer:
81.25%
Explanation:
the learning percentage = 26 hours / 32 hours = 0.8125 = 81.25%
The learning percentage is useful in order to calculate the cumulative average time and cost. Based on the information above and using a cumulative improvement factor table, we can estimate the number of hours required to manufacture a larger number of units.
Nominal GDP will definitely increase when:_________.
a. prices increase and output increases.
b. prices increase and output decreases.
c. prices decrease and output increases.
d. All of the above are correct.
Answer:
I think it's D If I'm wrong I'm sorry but have a nice day an hope this helps...
Nominal GDP will definitely increase if there is a simultaneous increase in the price level as well as the output level. Thus, option A is correct.
What is Nonimal GDP?Gross Domestic Product (GDP) in nominal terms is GDP expressed in current prices, without inflation adjustment. GDP is estimated at current prices by stating the values of all commodities and services generated during the current reporting period.
Nominal GDP will undoubtedly rise if both the price and output levels rise at the same time because the multiplication of both variables yields a country's nominal GDP. Therefore, it can be concluded that option A is correct.
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Judd, Inc., owns 35% of Cosby Corporation. During the calendar year 2021, Cosby had net earnings of $300,000 and paid dividends of $30,000. Judd mistakenly recorded these transactions using the fair value method rather than the equity method of accounting. What effect would this have on the investment account, net income, and retained earnings, respectively
Answer:
The right approach is "Understate, understate, understate".
Explanation:
The equity approach considers the substantive contractual partnership amongst two companies, Judd Inc. as well as Cosby Company. The creditor reports its share of the creditor's earnings as taxable net profit after tax underneath the equity instruments. For illustration, whenever a corporation owns 35 percent of a corporation with such a net gain of $300,000, by the equity system, the organization records profits from its acquisition of $105,000.Since Judd Inc. using the equal value approach, the net sales were significantly underestimated by $105,000,000.
Throughout the Equity Process, Judd Inc. will also have recorded as debit cash as well as compensation in almost the same proportion as "Investment throughout COSBY" throughout the quantity of $10,500. The debit to something like the capital expenditure raises the value including its commodity, while it reduces the compensation to either the investment. Consolidated interest income is indeed a part including its number of shares outstanding on something like consolidated financial statements that symbolizes the relative's accumulated revenues. It corresponds to the interest expense of parent JUDD Inc. exclusively itself from its earnings vary its communication of the net income of joint venture COSBY.As Judd did not report the entrance that uses the equity process, retained earnings would also be understated by this.
A company sells merchandise on credit for $6,000. The merchandise cost is $3,400. The journal that the transaction would be recorded in is the
Answer:
Sales journal
Explanation:
Since in the question it is mentioned that the company sells merchandise on an account or on a credit basis that means it does not involve any cash transaction so it is a credit sales
Therefore the same is to be recorded in the sales journal
hence, the answer is the sales journal and the same is to be considered
As this is relevant