Hill Corporation issued $2,100,000 of 8% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 31. The bonds had a 10-year life from the date of issue, and the company uses the straight-line method of amortization. On March 31, 2022, Hill recalls the bonds at the call price of 107 plus accrued interest.

Required:
Prepare the journal entries to record the reacquisition (recall) of Hill's bonds.

Answers

Answer 1

Answer:

Hill Corporation

Journal Entries

March 31, 2022:

Debit Bond Liability $2,247,000

Debit Interest Payable $42,000

Credit Cash $2,289,000

To record the recall of the bonds, including accrued interest.

Explanation:

a) Data and Calculations:

January 2, 2019: Face value of bonds issued = $2,100,000

Proceeds from the issue of the bonds at 98 =    2,058,000

Discount from the issue =                                        $42,000

Semi-annual amortization under straight-line = $2,100 ($42,000/20)

Coupon interest rate = 8% with payment made semiannually

Annual interest payment = $168,000 ($2,100,000 * 8%)

Semiannual interest payment = $84,000 ($2,100,000 * 4%)

Bonds duration = 10 years

March 31, 2022 Recall price of 107 = $2,247,000

Accrued interest from January 1 to March 31 = $42,000

Total payment to bondholders = $2,289,000


Related Questions

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:
Fixed Cost per Month Cost per Car Washed
Cleaning supplies $0.80
Electricity $1,200 $0.15
Maintenance $0.20
Wages and salaries $5,000 $0.30
Depreciation $6,000
Rent $8,000
Administrative expenses $4,000 $0.10
For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The actual operating results for August are as follows:
Lavage Rapide
Income Statement
For the Month Ended August 31
Actual cars washed 8,800

Revenue $43,080
Expenses:
Cleaning supplies 7,560
Electricity 2,670
Maintenance 2,260
Wages and salaries 8,500
Depreciation 6,000
Rent 8,000
Administrative expenses 4,950
Total expense 39,940
Net operating income $3,140
Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August.

Answers

Answer:

Lavage Rapide

Lavage Rapide

Income Statement

For the Month Ended August 31

                                           Actual  Planning  Flexible          Variances

Cars washed                      8,800      9,000      8,800     Activity    Spending      

Revenue                         $43,080     44,100    43,120    $1,020 U      $40 F

Expenses:

Cleaning supplies              7,560    $7,200   $7,040      $360 U     $520 U

Electricity                            2,670      2,550    2,520       $120  U     $150  U

Maintenance                      2,260       1,800     1,760      $460  U    $500  U

Wages and salaries           8,500      7,700     7,640      $800  U    $860  U

Depreciation                      6,000     6,000     6,000      None         None

Rent                                    8,000     8,000     8,000      None         None

Administrative expenses  4,950     4,900     4,880         $50  U      $70  U

Total expense                 39,940    38,150   37,840     $1,790  U $2,100  U

Net operating income     $3,140   $5,950  $5,280     $2,810      $2,140  U

Explanation:

a) Data and Calculations:

Company's Costs:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed

Cleaning supplies                                    $0.80

Electricity                            $1,200           $0.15

Maintenance                                            $0.20

Wages and salaries          $5,000          $0.30

Depreciation                     $6,000

Rent                                   $8,000

Administrative expenses $4,000           $0.10

Expected number of cars = 9,000 cars

Service price per car wash = $4.90

Actual operating results for August:

Lavage Rapide

Income Statement

For the Month Ended August 31

Actual cars washed 8,800

Revenue                         $43,080

Expenses:

Cleaning supplies              7,560

Electricity                            2,670

Maintenance                      2,260

Wages and salaries           8,500

Depreciation                      6,000

Rent                                    8,000

Administrative expenses  4,950

Total expense                 39,940

Net operating income     $3,140

Planning Budget:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed                           Total

Cleaning supplies                                    $7,200 (9,000 * $0.80)    $7,200

Electricity                            $1,200           $1,350 (9,000 * $0.15)     $2,550

Maintenance                                             $1,800 (9,000 * $0.20)    $1,800

Wages and salaries          $5,000          $2,700 (9,000 * $0.30)    $7,700

Depreciation                     $6,000                                                    $6,000

Rent                                   $8,000                                                    $8,000

Administrative expenses $4,000            $900 (9,000 * $0.10)     $4,900

Flexible budget:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed                            Total

Cleaning supplies                                    $7,040 (8,800 * $0.80)    $7,040

Electricity                            $1,200           $1,320 (8,800 * $0.15)    $2,520

Maintenance                                             $1,760 (8,800 * $0.20)    $1,760

Wages and salaries          $5,000          $2,640 (8,800 * $0.30)    $7,640

Depreciation                     $6,000                                                    $6,000

Rent                                   $8,000                                                    $8,000

Administrative expenses $4,000            $880 (8,800 * $0.10)      $4,880

Exercise 07-7 Manufacturing: Direct labor and factory overhead budgets LO P1 Addison Co. budgets production of 2,850 units during the second quarter. Other information is as follows: Direct labor Each finished unit requires 6 direct labor hours, at a cost of $9 per hour. Variable overhead Applied at the rate of $11 per direct labor hour. Fixed overhead Budgeted at $640,000 per quarter. 1. Prepare a direct labor budget. 2. Prepare a factory overhead budget.

Answers

Answer:

See below

Explanation:

1. Total Direct labor

Addison Co.

Direct labor budget for second quarter

Budgeted production units 2,850

Direct labor hour per one unit 6

Total direct labor hours needed 17,100

Cost per one direct labor $9

Total direct labor $153,900

2. Total factory overhead budget

Addison Co. Factory overhead for second quarter

Total direct labor hours needed 17,100

Variable rate per direct labor hour $11

Budgeted variable overhead $188,100

Budgeted fixed overhead $640,000

Total factory overhead $828,100

Ruben, Gerald, and Norma all work for the same company. Gerald and Norma both evaluate the company’s financial picture, but Gerald looks at liabilities and Norma looks at expenditures. Both Gerald and Norma make reports for Ruben, who makes the decisions for the company.

Which best describes the jobs of the three employees?

Ruben is the Risk Management Specialist, Gerald is the Budget Analyst, and Norma is the Treasurer.

Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst.

Ruben is the Treasurer and Gerald and Norma are the Risk Management Specialists.

Ruben is the Treasurer and Gerald and Norma are the Budget Analysts.

Answers

Answer:

b:Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst.

Explanation:

The statement that best describes the jobs of the three employees is: b:Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst.

What is Treasurer, Risk management specialist and Budget Analyst?

Ruben the Treasurer: A treasure is someone whose sole responsibility is:

To accept cashTo account for cash or money collectedTo manage finance etc

Gerald the Risk management Specialist: A risk management specialist is someone who is assign to effectively manage a company or an organization risk that can have a negative impact on the company.

Norma the Budget Analyst: A budget Analyst is someone whose duty is to evaluate and analyze a company or an organization budget.

Therefore the correct option is B.

Learn more about  Treasurer, Risk management specialist and Budget Analyst here:https://brainly.com/question/8922870

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Indicate whether each of the following companies are primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, use the Internet to locate the company's home page or use the finance Web site of Yahoo.1. Alcoa Inc. 2. Boeing 3. Caterpillar 4. Citigroup Inc. 5. CVS 6. Dow Chemical Company 7. eBay Inc. 8. FedEx 9. Ford Motor Company 10. Gap Inc. 11. H&R Block 12. Hilton Hospitality, Inc. 13. Procter & Gamble 14. SunTrust 15. WalMart Stores, Inc.

Answers

Answer:

Service company.

4. Citigroup Inc.

5. CVS

7. eBay Inc.

8. FedEx

11. H&R Block

12. Hilton Hospitality, Inc.

14. SunTrust

Merchandise Company.

10. Gap Inc.

13. Procter & Gamble

15. WalMart Stores, Inc.

Manufacturing company.

1. Alcoa Inc.

2. Boeing

3. Caterpillar

6. Dow Chemical Company

9. Ford Motor Company  

Lakeside Rides is adding a new roller coaster to its amusement park. The firm expects this addition to increase its overall ticket sales and increase attendance at its park. In particular, the firm expects to sell more tickets for its current roller coaster and experience extremely high demand for its new coaster. Sales for its boat ride are expected to decline but food and beverage sales are expected to increase significantly. Which of the following are considered side effects associated with the new roller coaster?
a. ticket sales for the new roller coaster
b. change in ticket sales for the existing roller coaster
c. change in ticket sales for the boat ride
d. change in food and beverage sales

Answers

Answer:

b. change in ticket sales for the existing roller coaster

c. change in ticket sales for the boat ride

d. change in food and beverage sales

Explanation:

The side effects that along with the  new roller coaster is as follows:

a. There should be the change in the sale of the ticket with respect to the existing roller coaster

b. There should be the change in the sale of the ticket with respect to the boat ride

c. Also, there should be the change in the sale for food & beverages

So the above represent the side effects

Hence, b, c and d are the correct options

Do you feel it is easier or harder to deliver a presentation online versus face to face? Why?

Answers

Answer:

I think it easier in person

Explanation:

This is due to the fact that I can see the people and can understand if people are paying attention or if I need to alter the material a bit.

XYZ stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2015 $ 134 $ 3 2016 150 3 2017 125 3 2018 130 3 An investor buys five shares of XYZ at the beginning of 2015, buys another two shares at the beginning of 2016, sells one share at the beginning of 2017, and sells all six remaining shares at the beginning of 2018. a. What are the arithmetic and geometric average time-weighted rates of return for the investor

Answers

Answer:

a. We have:

Arithmetic mean = 2.62%

Geometric mean = 1.82%

b. From the attached excel file, the total cash flow for each year are as follows:

January 1, 2015 Total Cash Flow = -$650

January 1, 2016 Total Cash Flow = -$273

January 1, 2017 Total Cash Flow = $141

January 1, 2018 Total Cash Flow = $768

Explanation:

Note: The requirement of this question is not complete. The complete requirement is therefore given before answering the question as follows:

a. What are the arithmetic and geometric average time-weighted rates of return for the investor.

b. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

The explanation of the answer is now given as follows:

The following sorted table is given in the question:

Year          Beginning-of-Year Price           Dividend Paid at Year-End

2015                           $ 134                                              $ 3

2016                              150                                                 3

2017                              125                                                 3

2018                              130                                                 3

a. What are the arithmetic and geometric average time-weighted rates of return for the investor.

The arithmetic and geometric average time-weighted rates of return for the investor can be calculated as follows:

Arithmetic average return = Sum of returns/ number of years ………....….. (1)

Geometric average return = n * ((1+r1)*(1+r2)*(1+r3)…(1+rn)^(1/n) - 1 .……….. (2)

Where;

n = years 1, 2, 3….

r1, r2, r3… are the returns for year 1, 2, 3….

Return for each year = ((Current year Beginning-of-Year Price – Previous year Beginning-of-Year Price) + dividend) / Previous year Beginning-of-Year Price .................... (3)

Using equation (3), we have:

2016 Return = ((150 - 134) + 3) /134 = 0.141791044776119

2017 Return = ((125 - 150) + 3) /150 = -0.146666666666667

2018 Return = ((125 - 120) + 5) /120 = 0.0833333333333333

Using equation (1), we have:

Arithmetic mean = (2016 Return + 2017 Return + 2018 Return) / 3 = (0.1417910447761190 - 0.1466666666666670 + 0.0833333333333333) / 3 = 0.0262, or 2.62%

Using equation (2), we have:

Geometric mean = ((1 + 2016 Return) * (1 + 2017 Return) * (1 + 2018 Return))^(1/3) - 1 = ((1 + 0.141791044776119) * (1 - 0.146666666666667) * (1 + 0.0833333333333333))^(1/3) - 1 = 0.0182, or 1.82%

b. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

Note: See the attached excel file for the chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

In the attached excel file, Beginning-of-Year Price for January 1, 2015 and January 1, 2016 are negative because the purchase of stock is a cash outflow.

When calculating the marginal revenue and marginal profit in this problem, use the approach given for the marginal cost and marginal revenue in the discussions in your textbook. a) If the fixed cost in producing the bicycles is $2800, find the total cost to produce 30 bicycles. Answer: $ 4718.9869 equation editorEquation Editor b) If the bikes are sold for $200 each, what is the profit (or loss) on the first 30 bikes

Answers

The question is incomplete. The complete question is :

A manufacturer of mountain bikes has the following marginal cost function:

                                           [tex]$C'(q)=\frac{700}{0.7q+8}$[/tex]

where q is the quantity of bicycles produced.

When calculating the marginal revenue and marginal profit in this problem, use the approach given for the marginal cost and marginal revenue in the discussions in your textbook.

a) If the fixed cost in producing the bicycles is $2800, find the total cost to produce 30 bicycles?

b) If the bikes are sold for $200 each, what is the profit (or loss) on the first 30 bikes?

Solution :

Given :

[tex]$C'(q)=\frac{700}{0.7q+8}$[/tex]

a). Fixed cost, FC = $ 2800

Total cost to produce 30 bicycles is :

 [tex]$C = 2800 + \int_0^{30} C'(q) \ dq$[/tex]

      [tex]$ = 2800 + \int_0^{30} \frac{700}{0.7q+8} \ dq$[/tex]

     [tex]$= 2800+700\left[\frac{\ln (0.7q+8)}{0.7}\right]^{30}_0$[/tex]

     [tex]$=2800+1000[\ln ((0.7 \times 30)+8)- \ln 8 ]$[/tex]

     [tex]$= 2800 +1000 [\ln 29 - \ln 8]$[/tex]

    = 2800 + 1287.85

    = $ 4087.85

b). Total selling price = $ (200 x 30)

                                   = $ 6000

    Profit  =  6000 - 4087.85

                = $ 1912.15

     

Focused reports help managers ____________ the challenge before recommending solutions. Reports that present data without conducting analysis arei ______________.

Like other business messages, reports can range from informal to formal depending on their purpose, audience, and setting. Which of the following contributes to an informal writing style?

a. Absence of humor
b. Passive voice verbs
c. Familiar words
d. Use of contractions

Answers

Answer: analyze, informational reports;

the use of contractions

Explanation:

Focused reports help managers (analyze) the challenge before recommending solutions. Reports that present data without conducting analysis are (informational reports)

b. The option that contributes to an informal writing style is ( the use of contractions). Other informal writing styles are:

• First-person pronouns

• Active-voice verbs

• Conversational language

A sporting goods manufacturer budgets production of 59,000 pairs of ski boots in the first quarter and 50,000 pairs in the second quarter of the upcoming year. Each pair of boots requires 2 kilograms (kg) of a key raw material. The company aims to end each quarter with ending raw materials inventory equal to 20% of the following quarter's material needs. Beginning inventory for this material is 23,600 kg and the cost per kg is $8. What is the budgeted materials purchases cost for the first quarter?

Answers

Answer:

Purchases= 114,400 kg

Total purchase cost= $915,200

Explanation:

Giving the following information:

Beginning inventory= 23,600 kg

Cost per kg= $8

Production= 59,000 pairs

Desired ending inventory= (50,000*0.2)*2= 20,000 kg

To calculate the purchases, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 59,000*2 + 20,000 - 23,600

Purchases= 114,400 kg

Total purchase cost= 114,400*8= $915,200

The use of property, plant, and equipment and intangible assets represents a consumption of benefits, or service potentials, inherent in the assets.

a. True
b. False

Answers

Answer:

a. True

Explanation:

Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.

The four factors of production are;

I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.

II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.

III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.

IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).

The expense recognition principle is an accounting principle which is typically used on accrual basis accounts and it states that expenses incurred by an individual or business entity should be recognized and matched in the same period with respect to the revenues they are related to.

Additionally, the expense recognition principle helps business owners to calculate their taxes and profits or losses properly.

The use of property, plant, and equipment and intangible assets represents a consumption of benefits, or service potentials, inherent in the assets.

Generally, the cost associated with these service potentials or inherent consumption benefits should be considered or recognized by the business firm as expenses over the specific period they are used to generate revenue for the business.

Gabbe Industries is a division of a major corporation. Last year the division had total sales of $24,040,500, net operating income of $3,726,278, and average operating assets of $7,755,000. The company's minimum required rate of return is 18%. Required: a. What is the division's margin? (Round your percentage answer to 2 decimal places.) b. What is the division's turnover? (Round your answer to 2 decimal places.) c. What is the division's return on investment (ROI)? (Round percentage your answer to 2 de

Answers

Answer:

See

Explanation:

Part A

Division's margin = Net operating income/Total sales

= $3,726,278/$24,040,500

= 0.155

Division's margin = 15.5%

Part B

Division's turnover = Total sales/Average operating assets

= $24,040,500/$7,755,000

= 3.1

Division's turnover = 3.1 times

Part C

The division's return on investment

= Net operating income/Average operating assets

= $3,726,278/$7,755,000

= 0.481

The division's return on investment is 48.1%

Calculate the transaction value (in $ thousands) of a theoretical company based on the information provided below. Current Share Price $18.00 Shares Outstanding (Thousands) 5,000 Total Debt ($ Thousands) $3,700 Cash ($ Thousands) $2,100 Acquisition Premium 10% Review Later $82,600 $115,700 $97,600 $100,600

Answers

Answer:

The Transaction Value (in $ thousands) is:

= $97,240

Explanation:

a) Data and Calculations:

Current Share Price $18.00

Shares Outstanding (Thousands) 5,000

Total market value = $90,000 ($18 * 5,000)

Total Debt ($ Thousands) $3,700

Cash ($ Thousands) $2,100

Net liability = $1,600 ($3,700 - $2,100)

Net fair value = $88,400

Acquisition Premium 10%

Premium = $8,840 ($88,400 * 10%)

Acquisition or Transaction value = $97,240 ($88,00 * 1.1)

b) The transaction value is the acquisition value of the theoretical company.

The marketing manager at Home Depot works with Hunt Advertising to coordinate all promotional messages for a product or a service. For example, to sell the new line of lighting fixtures, the marketing manager and Hunt Advertising make sure that all messages are consistent at every contact point at which Home Depot interacts with the consumer. This is an example of _______.

Answers

Answer:

Promotional mix

Explanation:

Since in the given situation, coordinate the promotional messages for promoting the product or a service so here the promoting tenchique would be considered that means the company promotes its product via marketing manager and the advertiser who is third party

So according to the given case, this is an example of promotional mix

What are references?

Answers

Answer:

Explanation:

Let us say you are doing an essay on the gold trade on the comex. You have to read something to understand what it means to buy gold on the comex. You need to at least know what it takes to buy and sell on the comex.

What you read to find out is a reference. It has to be listed in a Bibliography which is a list of references.

Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following costs are given for April: Cutting Assembly Finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 There were no work in process inventories and 1,000 podiums were produced. What is the cost transferred out of the assembly department. a.$29,000 b.$43,000 c.$54,000 d.$14,000 e.None of these choices are correct.

Answers

Answer:

a. $29,000

Explanation:

With regards to the above, the cost transferred out of the assembly department is computed as;

We would sum up all the cost associated with the Assembly department.

= Direct materials + Direct labor + Overhead

Direct materials = $10,000

Direct labor = $14,000

Overhead = $5,000

Therefore, cost transfered out of the assembly department is

= $10,000 + $14,000 + $5,000

= $29,000

Gundy Company expects to produce 1,243,200 units of Product XX in 2020. Monthly production is expected to range from 79,000 to 121,000 units. Budgeted variable manufacturing costs per unit are: direct materials $4, direct labor $7, and overhead $10. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $3. In March 2020, the company incurs the following costs in producing 100,000 units: direct materials $425,000, direct labor $695,000, and variable overhead $1,005,000. Actual fixed costs were equal to budgeted fixed costs.

Required:
Prepare a flexible budget report for March.

Answers

Answer:

Gundy Company

Flexible Budget Report for the month of March, 2020:

                          Flexible Budget     Actual Budget     Variance

Direct materials    $400,000              $425,000       $25,000 U

Direct labor           $700,000              $695,000         $5,000 F

Overhead           $1,000,000            $1,005,000         $5,000 U

Fixed Cost            $632,000              $632,000          $0        None

Explanation:

a) Data and Calculations:

Expected production units for 2020 = 1,243,200

Monthly production range = 79,000 to 121,000

Budgeted variable manufacturing costs per unit are:

Direct materials $4

Direct labor        $7

Overhead        $10

Total variable cost   $21

Budgeted fixed manufacturing costs per unit:

Depreciation   $5

Supervision     $3     $8

Total costs    $29

Total fixed cost = 79,000 * $8 = $632,000

Actual costs incurred in March 2020:

Production units = 100,000

Direct materials = $425,000 ($4.25 per unit)

Direct labor = $695,000 ($6.95 per unit)

Variable overhead = $1,005,000 ($10.05 per unit)

Actual fixed costs = $632,000

Flexible Budget:

Direct materials $400,000 ($4 * 100,000)

Direct labor        $700,000 ($7 * 100,000)

Overhead        $1,000,000 ($10 * 100,000)

Fixed Cost         $632,000

Ruben, Gerald, and Norma all work for the same company. Gerald and Norma both evaluate the company’s financial picture, but Gerald looks at liabilities and Norma looks at expenditures. Both Gerald and Norma make reports for Ruben, who makes the decisions for the company.

Which best describes the jobs of the three employees?

Ruben is the Risk Management Specialist, Gerald is the Budget Analyst, and Norma is the Treasurer.

Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst.

Ruben is the Treasurer and Gerald and Norma are the Risk Management Specialists.

Ruben is the Treasurer and Gerald and Norma are the Budget Analysts.

Answers

Answer:

The correct answer is (B)

Explanation:

Trust homie

Answer:

SUPPPERRR late but im dont the unit test right know

The answer is "Ruben is the Treasurer, Gerald is the Risk Management Specialist, and Norma is the Budget Analyst."

Welcome

Explanation:

definition of business by different authors​

Answers

Answer:

The term business has been defined by different authors from time to time as follows: “A business is nothing more than a person of group of persons properly organize to produce or distribute goods or services.

Explanation:

Answer:

The term business has been defined by different authors from time to time as follows: “A business is nothing more than a person of group of persons properly organize to produce or distribute goods or services.

Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones.

Pictech Pricing
High Low
Flashfone Pricing High 11, 11 2, 18
Low 18, 2 10, 10

For example, the lower-left cell shows that if Flashfone prices low and Pictech prices high, Flashfone will earn a profit of $18 million, and Pictech will earn a profit of $2 million. Assume this is a simultaneous game and that Flashfone and Pictech are both profit-maximizing firms.

a. If Flashfone prices high, Pictech will make more profit if it chooses a (high,low) _____ price, and if Flashfone prices low, Pictech will make more profit if it chooses a(high,low)_______ price.
b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)______price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) ______ price.
c. Considering all of the information given, pricing high (is, is not) ______ a dominant strategy for both Flashfone and Pictech.

Answers

Answer:

Flashfone and Pictech

a. If Flashfone prices high, Pictech will make more profit if it chooses a (high,low) __low___ price, and if Flashfone prices low, Pictech will make more profit if it chooses a(high,low)___low____ price.

b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)__low____price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) __low____ price.

c. Considering all of the information given, pricing high (is, is not) _is not_ a dominant strategy for both Flashfone and Pictech.

Explanation:

a) Data and Calculations:

                                 Pictech Pricing

                                     High        Low

Flashfone Pricing High 11, 11        2, 18

                             Low  18, 2      10, 10

b) A dominant strategy exists if Pictech or Flashfone would implement a particular strategy that benefits it no matter what the other firm does.

Tex's Manufacturing Company can make 200 units of a necessary component part with the following costs: Direct Materials $240,000 Direct Labor 35,000 Variable Overhead 75,000 Fixed Overhead 40,000 If Tex's Manufacturing Company can purchase the component externally for $330,000 and only $15,000 of the fixed costs can be avoided, what is the correct make-or-buy decision

Answers

Answer:

Buy and save $35,000

Explanation:

The computation is shown below:

Particulars                                  Make                          Buy

Direct Materials                         $240,000

Direct Labor                               $35,000

Variable Overhead                     $75,000

Fixed Overhead                          $15,000

Purchase cost                                                          $330,000

Total cost                                      $365,000           $330,000

As we can see that the buying total cost is less than the total making cost so here we can buy the product as it saves the company by $35,000 ($365,000 - $330,000)

Q 9.20: City Mission is a not-for-profit organization that provides hot meals, living quarters, and showers for homeless people. Based on their yearly budget, they expect to spend $450,000 on food expenses, $350,000 on housing expenses, $280,000 on staff salaries, $90,000 on utilities, and $118,000 on other expenses. How much will City Mission need to raise in donations

Answers

Answer:

at least $1,288,000 in donation

Explanation:

With regards to the above information, we would add up all the expenses to arrive at how much donation that need City Mission needs to raise.

= Expenses on food + Housing expenses + Staff salaries + Utilities + Other expenses

= $450,000 + $350,000 + $280,000 + $90,000 + $118,000

= $1,288,000

The above is a large sum of money to raise only from donations, and by right a level or various levels of government should help pay for these expenses as no one go homeless either that or provide low cost homes for the homeless.

CPU-on-Demand (CPUD) offers real-time high-performance computing services. CPUD owns 1 supercomputer that can be accessed through the Internet. Their customers send jobs that arrive on average every 5 hours. The standard deviation of the interarrival times is 5 hours. Executing each job takes on average 3 hours on the supercomputer and the standard deviation of the processing time is 4.5 hours. How long does the customer have to wait to have the job completed?

Answers

Answer:

61 hours

Explanation:

Bramble Company established a petty cash fund on May 1, cashing a check for $105. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.40. Receipts: delivery expense $27.40, postage expense $37.90, and miscellaneous expense $33.30. July 1: Cash in fund $3.95. Receipts: delivery expense $20.95, entertainment expense $53.20, and miscellaneous expense $26.90. On July 10, Bramble increased the fund from $105 to $135.00. Prepare journal entries for Bramble Company for May 1, June 1, July 1, and July 10.

Answers

Answer:

May 01

Dr Petty cash $105

Cr Cash $105

Jun 01

Dr Delivery Expense $27.40

Dr Postage Expense $37.90

Dr Miscellaneous Expense $33.30

Dr Cash over/short $3.00

($101.6-$27.40-$37.90-$33.30)

Cr Petty Cash $101.6

Jul 01

Dr Delivery expense $27.40

Dr Entertainment expense $53.20

Dr Miscellaneous expense $33.30

Cr Petty Cash $113.9

Jul 10

Dr Petty cash $30.00

Cr Cash $30.00

Explanation:

Preparation of the journal entries for Bramble Company for May 1, June 1, July 1, and July 10

May 01

Dr Petty cash $105

Cr Cash $105

Jun 01

Dr Delivery Expense $27.40

Dr Postage Expense $37.90

Dr Miscellaneous Expense $33.30

Dr Cash over/short $3.00

($101.6-$27.40-$37.90-$33.30)

Cr Petty Cash ($105 - $3.40) $101.6

Jul 01

Dr Delivery expense $27.40

Dr Entertainment expense $53.20

Dr Miscellaneous expense $33.30

Cr Petty Cash $113.9

($27.40+$53.20+$33.30)

Jul 10

Dr Petty cash $30.00

Cr Cash $30.00

($135-$105)

A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. For the students of the college, the visual appearance of the campus is _____________ and ___________. Thus, the visual appearance would be classified as a public good.

Suppose the college administrators estimate that the beautification initiative will cost $2,040. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 420 students, asking each of them their willingness-to-pay for the beautification project. The average willingness-to-pay, as revealed by the survey, is $12.

The benefit of the beatification initiative, as suggested by the survey, is $ __________ Because the estimated benefit is ____________ than the
cost, the college administrators ______________ undertake the beautification in initiative.

The calculation of the benefit of the beatification initiative relied on the ability of the administrators to accurately capture the true willingness-to-pay of each student.

Which of the following scenarios would cause the survey used by the college administrators to yield misleading willingness-to-pay data? Check all that apply.

a. Students believe that if the initiative does not happen, the funds for the initiative Will not be spent elsewhere.
b. An equal number of male and female students were surveyed.

Answers

Answer:

non rival, non excludable

$5040

greater

will

a. Students believe that if the initiative does not happen, the funds for the initiative Will not be spent elsewhere.

Explanation:

A public good is a good that is non excludable and non rivalrous.

Because a student is enjoying the visual appearance of the campus, another student is not prevented from enjoying the visual appearance of the campus. This means that the beautification initiative is non rivalrous

There is no way to prevent any student from viewing the initiative. This means it is non excludable

Benefit can be calculated using the willingness to pay of student

the price a student is willing to pay would be dependent on the amount of benefit she expects to derive from the project

benefit =  420 x $12 = $5040

The  beautification initiative generates a positive externality

A good  or initiative has positive externality if the benefits to third parties not involved in production is greater than the cost

Because the good  generates positive externality, the initiative should be carried out

If . Students believe that if the initiative does not happen, the funds for the initiative Will not be spent elsewhere, they would quote a lower willingess to pay

Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 125% of direct labor cost. Selected data concerning the past year's operation of the company are presented below. January 1 December 31 Direct materials $ 77,000 $ 40,000 Work in process 66,000 42,000 Finished goods 115,000 100,000 Other information Direct materials purchases $ 324,000 Cost of goods available for sale 950,000 Actual factory overhead costs 260,000 The cost of direct materials used for production is:

Answers

Answer:

$361,000

Explanation:

Direct materials used  = Beginning Materials + Purchases - Ending Materials

therefore,

Direct materials used  = $ 77,000 + $ 324,000 - $ 40,000 = $361,000

Conclusion

The cost of direct materials used for production is $361,000.

What would you prefer, a savings account that pays 10% interest compounded semiannually or one that pays 10% interest compounded daily? Explain.

Answers

Answer:

10% interest compounded daily will be preferable

Explanation:

In the first case, compounding occurs twice (semiannually)

In the second case, compounded occurs 365 days.

Note that compounding is earning interest on principal plus the already accumulated interest amount.

In the first case the Annual Percentage Rate (APR) would be:

= (1 + 10%/2)^2 - 1

= 0.1025

= 10.25%

In the second case the Annual Percentage Rate APR would be:

= (1 + 10%/365)^365 - 1

= 1.00027397^365 - 1

= 1.105154 - 1

= 0.105154

= 10.51%

So, 10% interest compounded daily will be preferable as it yield more.

PLEASE HELP ASAP!! THESE ARE TRUE OR FALSE!! WILL MARK BRAINLIEST!!
1. International trade has little effect on our daily lives as consumers and workers.
2. Making, buying, and selling goods and services within a country is known as international
business.
3. Another term for international business is foreign or world trade.
4. Among the advantages enjoyed by the U.S. in world trade is our own production of wool
and oil.
5. Things we buy from other countries are called exports.
6. It is necessary for the U.S. to import a variety of metals.
7. Goods and services we sell to other countries are called exports.
8. There are a number of challenges involved with international trade, but currency exchange
rates are not one of them.
9. A limit set on the quantity of a product that can be imported or exported is called an
embargo.
10. A balance of payments and a balance of trade are the same thing.

Answers

Answer:

1. false

2. true

3. true

4. false

5. true

6. true

Explanation:

because i took this test

Answer:

1. false

2. false

3. true

4. true

5. false

6. true

7. true

8. false

9. false

10. false

Explanation:

Shirine has been debating between two career pathways in finance. She creates a Venn diagram to compare the two careers. In a Venn diagram, the separate circles contain characteristics unique to each item being compared and the intersection contains characteristics that are common to both items being compared. This is the Venn diagram that Shirine creates:


A Venn diagram.

Title 1 has Sets up and oversees customer accounts; Analyzes how much to grant in loans; Possible Careers: Teller, Loan Officer, Credit Checker.

Title 2 has Analyzes how to grow customers' money; Deals with securities and commodities; Possible Careers: Personal Finance Advisor, Treasurer, Risk Management Analyst. The area of overlap has Deals with money, Works with customers.


Which accurately labels the titles in Shirine’s diagram?


a) Title 1 should be Investment Career Pathway, and Title 2 should be Banking Career Pathway


b) Title 1 should be Banking Career Pathway, and Title 2 should be Investment Career Pathway


c) Title 1 should be Banking Career Pathway, and Title 2 should be Financial Management Career Pathway


d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway

Answers

Answer:

d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway

Explanation:

i believe its D but im not exactly sure

Answer:

D

Explanation:

Piper Rose Boutique has been approached by the community college to make special polo shirts for the faculty and staff. The college is willing to buy 4,000 polos with its own design for $6.00 each. The company normally sells its shirts for $12.00 each. The company has enough excess capacity to make this order. A breakdown of the costs is as follows:
Direct materials $2.00
Direct labor 0.50
Variable factory overhead 1.50
Fixed factory overhead 2.50
Total cost per unit $6.50
Should Piper Rose Boutique accept the special order made by the college?

Answers

Answer:

Piper Rose Boutique should accept the special order made by the college

Explanation:

Price per unit the college is willing to pay = $6

Total variable cost per unit to be incurred by Piper Rose Boutique = Direct materials + Direct labor + Variable factory overhead = $2.00 + $0.50 + $1.50 = $4,00

Since the price per unit of $6 that the college is willing to pay is greater than the total variable cost per unit of $4 to be incurred by Piper Rose Boutique, Piper Rose Boutique should accept the special order made by the college.

Note: the Fixed factory overhead is not relevant in taking the decision. Only the variable costs are relevant.

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