Answer:
Bal. June 30 Receipts Disbursements Bal. July 31
Balance per Bank 355,001 835,846 684,747 506,100
Deposit in Transit
June 30 86,899 -86,899
July 31 51,240 51,240
Outstanding Checks
June 30 42,690 -42,690
July 31 73,340 73,340
Unrecorded Receipts -150,000 -150,000
Unrecorded Disbursement -150,000 -150,000
Balance per Books 399,210 650,187 565,397 484,000
The ultimate goal of operations management is to provide high-quality goods and services instantaneously in response to customer demand. Over the years, low cost often came at the expense of quality and flexibility. Furthermore, suppliers didn't always deliver when they said they would, so manufacturers had to carry large inventories of raw materials and components to keep producing. Such inefficiencies made U.S. companies vulnerable to foreign competitors who were using more advanced production techniques As a result of new global competition, companies have had to make a wide variety of high-quality custom-designed products at a very low cost. Something had to change on the production floor to make that possible. Several major developments have made U.S.companies more competitive:
(1) computer-aided design and manufacturing
(2) flexible manufacturing,
(3) lean manufacturing, and
(4) mass customization,
(5) CAD
(6) CAM
Match the company or role with the most appropriate manufacturing technique.
Dress designer: In addition to helping in the design of products, the use of this system allows designers to work in three dimensions
Shoe designer: The manufacturer programs the computer to make a simple design change, and then that change is readily Incorporated into production
Purse designer: Software programs unite these two computer-aided support systems. While the software is expensive, it cuts as much as 80 percent of the time needed to program machines to make parts.
Motor starters: Orders come in daily and, within 24 hours, the company's machines and robots manufacture, test, and package the starters-which are untouched by human hands. This system is so efficient it can even accommodate a special order (even a single item) in the assembly without slowing down the process.
Toyota corporation: This company utilizes the strategy of using half the human effort, halving the defects in the finished product, using one-third of the normal engineering effort, using half the floor space, and carrying 90 percent less inventory
Dell computers: Dell has set up its manufacturing process so that all its computers can be quickly assembled to individual customer orders.
Answer:
1. Dress designer: In addition to helping in the design of products, the use of this system allows designers to work in three dimensions
(5) CAD
2. Shoe designer: The manufacturer programs the computer to make a simple design change, and then that change is readily Incorporated into production (6) (CAM)
3. Purse designer: Software programs unite these two computer-aided support systems. While the software is expensive, it cuts as much as 80 percent of the time needed to program machines to make parts. (1) computer-aided design and manufacturing also known as CIM(Computer integrated manufacturing)
4. Motor starters: Orders come in daily and, within 24 hours, the company's machines and robots manufacture, test, and package the starters-which are untouched by human hands. This system is so efficient it can even accommodate a special order (even a single item) in the assembly without slowing down the process. (2) flexible manufacturing
5.Toyota corporation: This company utilizes the strategy of using half the human effort, halving the defects in the finished product, using one-third of the normal engineering effort, using half the floor space, and carrying 90 percent less inventory (3) lean manufacturing
6. Dell computers: Dell has set up its manufacturing process so that all its computers can be quickly assembled to individual customer orders. (4) mass customization
Explanation:
1. Computer-aided design and manufacturing or CIM: This is the use of computer software that combines the benefits of CAM and CAD.
(2) Flexible manufacturing: This refers to the use of machines that can be easily adapted to accommodate changes in the needs of customers or the manufacturer.
(3) Lean manufacturing: is based on the principle of accomplishing a lot of tasks with little manpower and efforts.
(4) Mass customization: is the act of manufacturing products that are suited to the wants and needs of customers in large quantities.
(5) CAD: Computer-aided design is needed for the design of products.
(6) CAM: This refers to the use of computer software to control the manufacturing process.
The given role or the companies would most adequately be linked to the technique of manufacturing would be as follows:
1) computer-aided design and manufacturing - 3. Purse designer
2) Flexible manufacturing - 4. Motor starters
3) lean manufacturing, - 5. Toyota corporation
4). mass customization, - 6. Dell computers
5). CAD - 1. Dress designer
6). CAM - 2. Shoe designer
Manufacturing TechniquesManufacturing techniques are characterized as the variety of processes that have been employed to develop or generate the product.
In the given question, a number of techniques have been referred to like Mass Customization, CAM, Computer-aided manufacturing, etc.
The companies working on technically advanced domains like designing would require the aid or involvement of computers to make their manufacturing process convenient and precise.
While the Starters company or Corporations would require flexible or lean manufacturing to ensure the accomplishment of desired tasks efficiently.
Learn more about "Operations Management" here:
brainly.com/question/8055230
Dixon Company is a manufacturer that completed numerous transactions during the month, some of which are shown below:
A. Raw materials purchased on account, $100,000.
B. Raw materials used in production, $78,000 direct materials, and $16,000 indirect materials.
C. Sales commissions paid in cash, $45,000.
D. Depreciation was recorded for the month, $60,000 (65% related to factory equipment, and the remainder related to selling and administrative equipment).
E. Sales for the month, $450,000 (70% cash sales and the remainder were sales on account).
F. Factory utilities paid in cash, $12,000.
G. Applied $138,000 of manufacturing overhead to production during the month.
H. Various jobs costing a total of $190,000 were completed during the month and transferred to Finished Goods.
I. Cash receipts from customers who had previously purchased on credit, $115,000.
J. Various completed jobs costing a total of $220,000 were sold to customers.
K. Cash paid to raw material suppliers, $90,000.
Required:
The table shown below includes only one account from Dixon Company's balance sheet-Retained Earnings. For each of the above transactions, select "No" if it would not affect Retained Earnings. Conversely if the transaction would affect Retained Earnings, then record the amount of the increase or (decrease) to this account under the "Yes" column.
Retained Earnings
Transaction Yes No
a
b
c
d
e
f
g
h
i
j
k
Answer:
Explanation:
From the question, we are told to
select "No" if it would not affect Retained Earnings. Conversely if the transaction would affect Retained Earnings, then record the amount of the increase or (decrease) to this account under the "Yes" column.
Retained Earnings
Retained Earnings is the remaining income in total that a company/organization has after she has paid dividents to her shareholders and all expenses.
Note that: whenever, there is rise or fall in net income as well as the dividends given shareholders, the Retained earnings are affected, which means anything that bring about increase or decrease of net income definitely affect retain earning.
""When the dividend given to shareholders
or other expenses is less that net income for the company ,then it means
increase in retain earning and vice versa.""
A)NO, it would not affect Retained Earnings.
This is raw material needed for the business
B)NO, it would not affect Retained Earnings.
C)yes,it would affect Retained Earnings by decrease of (-45,000)
D)yes, it would affect Retained Earnings by decrease of(-21,000)
E)yes, it would affect Retained Earnings by increase of(450,000)
F))NO, it would not affect Retained Earnings
G)NO, it would not affect Retained Earnings
H)NO, it would not affect Retained Earnings
I)NO, it would not affect Retained Earnings
J) yes, it would affect Retained Earnings by decrease of(-220,000)
K)NO, it would not affect Retained Earnings
Year1-Year Forward Rate 15.8% 26.4% 37.1% 47.3% 57.4%What would the yield to maturity be on a four-year zero-coupon bond purchased today
Answer:
b. 6.65%
Explanation:
Note: The organized question is attached below
Yield of maturity = [(1+forward rate of years 1) * (1+forward rate of years 2) * (1+forward rate of years 3) * (1+forward rate of years 4)]^(1/4) - 1
Yield of maturity = [(1+5.8%) * (1+6.4%) * (1+7.1%) * (1+7.3%)]^(1/4) - 1
Yield of maturity = (1.058 * 1.064 * 1.071 * 1.0730)^(1/4) - 1
Yield of maturity = 1.293649093296^(1/4) - 1
Yield of maturity = 1.06648345438 - 1
Yield of maturity = 0.06648345438
Yield of maturity = 6.6483%
Yield of maturity = 6.65%
Business standards should be based on which of the following?
Answer: standards are based on the ultimate goals of a business
Explanation:
Standards set specialized goalsExamples-Financial standards
* Set goals for profit, cash flow and sale
-Quality control standards
*Set up production line check for defects in machinery or workmanship
Your uncle Abdallah is celebrating his 33th birthday today and wants to start saving for his retirement at the age of 63. He wants to be able to withdraw AED 100,000 from his saving account on each birthday for 20 years following his retirement. The first withdraw will be on his 64th birthday. Your uncle intends to invest his money in a local bank in Abu Dhabi that offers 7% interest rate per year. He wants to make equal payments on each birthday into the account established in the local bank for his retirement fund.
1. If your uncle starts making these deposits on his 33th birthday and continues to make deposits until he is 63, what amount must he deposit annually to be able to make the desired withdrawals at retirement?
2. If your uncle has just inherited a large sum of money, so instead of making equal payments, he has decided to pay one lump sum payment on his 33th birthday to cover his retirement needs. What amount does he have to deposit?
3. If your uncle’s employer informs your uncle that he will contribute AED 1,000 to your uncle account every year. Also, if your uncle expects AED100,000 from another investment on his 53th birthday, which he will also put into the retirement account. What amount must he deposit annually now to be able to make the desired withdrawals at retirement.
Answer:
we can use the present value of an annuity formula to determine how much money your uncle will need when he retires at 63:
PV = annual distribution x annuity factor
annual distribution = $100,000PV annuity factor, 7%, 20 periods = 10.594PV = $100,000 x 10.594 = $1,059,400
1) the present value of your uncle's retirement account at 63 will become the future value of his contributions, but this time we need to use the future value of an annuity due. He will make 31 deposits in total starting at age 33 and ending at age 63:
$1,059,400 = annual contribution x 102.07304 (FV annuity due factor, 7%, 31 periods)
annual contribution = $1,059,400 / 102.07304 = $10,359.25
2) we should now use the present value formula:
PV = FV / (1 + i)ⁿ
PV = $1,059,400 / (1 + 0.7)³⁰ = $138,907.59
3) the future value of your uncle's employer contributions = $1,000 x 102.07304 = $102,073.04
his $100,000 investment will be worth = $100,000 x (1 + 0.07)¹⁰ = $196,715.14
that means that your uncle still needs to save $1,059,400 - $102,073.04 - $196,715.14 = $760,611.46
his annual contribution will be:
annual contribution = $760,611.46 / 102.07304 = $7,451.64
A client heard through its hotline that John, the purchases journal clerk, periodically enters fictitious acquisitions. After John creates a fictitious purchase, he notifies Alice, the accounts payable ledger clerk, so she can enter them in her ledger. When the payables are processed, the payment is mailed to the nonexistent supplier’s address, a post office box rented by John. John deposits the check in an account he opened in the nonexistent supplier’s name.
Required
a. Define fraud, fraud deterrence, fraud detection, and fraud investigation.
b. List four personal (as opposed to organizational) fraud symptoms, or red flags, that indicate the possibility of fraud. Do not confine your answer to this example.
c. List two procedures you could follow to uncover John’s fraudulent behavior. (CIA Examination, adapted)
Answer: See explanation
Explanation:
a. Fraud is a criminal deception by someone which is done for either personal or financial gain.
Fraud deterrence is when the likely causes of fraud are identified and removed so as to prevent fraud from occuring.
Fraud detection are the activities that are done so as to prevent money or any other thing from being gotten by false pretenses.
Fraud investigation has to do with using investigative skills and accountability in order to know if fraud has taken place.
b. Fraud symptoms that indicate the possibility of fraud include:
1. Accounting and analytical anomalies
2. Tips and complaint
3. Extravagant lifestyle
4. Unusual behavior
c. The procedures that could be done to uncover John’s fraudulent behavior are:
• Stock reconciliation: This will help show the fictitious acquisitions. Since no receipt are given for the goods, this will help in the detection of the fraud.
• Alice should verify the details such as the address, phone number and name attached to the purchase and find a way of tracking it.
Cost-Volume-Profit Analysis CVP exercises The Deli-Sub Shop owns and operates six stores in and around Minneapolis. You are given the following corporate budget data for next year:
Revenues $11,000,000
Fixed costs $3,000,000
Variable costs $7,500,000
Variable costs change based on the number of subs sold.
Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. Cell references and formulas should be based on the original data. If you copy/paste from the Instructions tab you will be marked wrong.
Requirements Compute the budgeted operating income for each of the following deviations from the original budget data. (Consider each case independently.)
a. Enter all amounts as positive values. Do NOT use parentheses or a minus sign for amounts to be subtracted.
b. Refer to the budgeted operating income based on the original budget data in all calculations.
1 Determine the budgeted operating income based on the original budget data.
2 A 10% increase in contribution margin, holding revenues constant
3 A 10% decrease in contribution margin, holding revenues constant
4 A 5% increase in fixed costs
5 A 5% decrease in fixed costs
6 A 5% increase in units sold
7 A 5% decrease in units sold
8 A 10% increase in fixed costs and a 10% increase in units sold
9 A 5% increase in fixed costs and a 5% decrease in variable costs
10 Which of these alternatives yields the highest budgeted operating income?
Answer:
The Deli-Sub Shop
1. Budgeted operating income based on the original budget data:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,000,000
Operating Income $500,000
2. 10% increase in contribution, holding revenues constant:
Revenues $11,000,000
Variable costs $7,150,000
Contribution $3,850,000
Fixed costs $3,000,000
Operating Income $850,000
3. A 10% decrease in contribution margin, holding revenues constant:
Revenues $11,000,000
Variable costs $7,850,000
Contribution $3,150,000
Fixed costs $3,000,000
Operating Income $150,000
4. A 5% increase in fixed costs:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,150,000
Operating Income $350,000
5. A 5% decrease in fixed costs:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $2,700,000
Operating Income $800,000
6. A 5% increase in units sold:
Revenues $11,550,000
Variable costs $7,875,000
Contribution $3,675,000
Fixed costs $3,000,000
Operating Income $675,000
7. A 5% decrease in units sold:
Revenues $10,450,000
Variable costs $7,125,000
Contribution $3,325,000
Fixed costs $3,000,000
Operating Income $325,000
8. A 10% increase in fixed costs and a 10% increase in units sold:
Revenues $12,100,000
Variable costs $8,250,000
Contribution $3,850,000
Fixed costs $3,000,000
Operating Income $850,000
9. A 5% increase in fixed costs and a 5% decrease in variable costs:
Revenues $11,000,000
Variable costs $7,125,000
Contribution $3,875,000
Fixed costs $3,150,000
Operating Income $725,000
10. 2 A 10% increase in contribution margin, holding revenues constant
and
8 A 10% increase in fixed costs and a 10% increase in units sold
Explanation:
a) Data and Calculations:
Corporate Budget:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,000,000
Operating Income $500,000
b) A 10% or 5% increase is multiplied by a factor of 1.1 or 1.05 while a 10% or 5% decrease is multiplied by a factor of 0.9 or 0.95 respectively.
A Missouri job shop has four departmentsmachining (M), dipping in a chemical bath (D), finishing (F), and plating (P)assigned to four work areas. The operations manager, Mary Marrs, has gathered the following data for the movement of material. The number of workpieces moved yearly between work areas are:
M D F P
M
D
F
P
It costs $1 to move 1 workpiece 1 foot in the job shop. For the layout design of the job shop, Mary has the current layout (Plan A) and two proposals (Plan B and Plan C).
Required:
a. LAYOUT PLAN A: Distance between work areas (departments) in feet:
M D F P
M __ 21 13 19
D __ __ 7 11
F __ __ __ 4
P __ __ __ __
The yearly total material handling cost of the current layout presented in PLAN A = ___________$ nothing (enter your response as a whole number).
Answer:
Plan A cost $26,000
Explanation:
(21 * 6) + (13 * 18) + (19 * 2) + (7*4) + (11 * 2) + (4 * 18)
126 + 234 + 38 + 28 + 22 + 72
52,000 * 0.50 = 26,000
HELP ME ASAP!!
_______ is the design of buildings and creation of building plans, or
blueprints.
O Construction
O Marketing
O Architecture
O Drafting
Answer:
Architecture
:):)
Explanation:
hope I help!!:)
Im learning same thing and just completed that, I know its Architecture!!!!
which practice would you recommend that an inventory manager use for successful inventory planning?
Answer:
C
Explanation:
Plato/Edmentum
Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,304 cubic yards of wood chips, 14,100 cubic yards of mulch, and 9,024 cubic yards of wood pulp. The joint production process costs a total of $32,000 per batch. After the split-off point, wood chips are immediately sold for $25 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point is estimated to be $22 and $24 per cubic yard, respectively. The additional production process of the wood pulp costs $5 per cubic yard, after which it is sold for $30 per cubic yard. The additional production process of the mulch costs $4 per cubic yard, after which it is sold for $32 per cubic yard.
Allocate the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Wood chips $
Wood pulp
Mulch
Totals $
Answer:
Product Output Selling price per cubicyard net realizable value
Wood chips
20,304 cubic yards $25 507,600
Wood pulp
9,024 cubic yards $22 198,528
Mulch
14,100 cubic yards $24 338,400
Product Percentage of Net realizable value
Wood chips 48.60%
Wood pulp 19%
Mulch 32.40%
Product Allocation of Joint costs
Wood chips $15,552
Wood pulp $6,080
Mulch $10,368
Explanation:
Allocation of the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Product Output Selling price per cubic yard net realizable value
Wood chips
20,304 cubic yards $25 507,600
(20,304 x 25) = 507,600
Wood pulp
9,024 cubic yards $22 198,528
(9,024 x 22 )= 198,528
Mulch
14,100 cubic yards $24 338,400
(14,100 x 24 )= 338,400
Total $1,044,528
(507,600+198,528+338,400)
Product Percentage of Net realizable value
Wood chips 507,600/1,044,528= 48.60%
Wood pulp 198,528/1,044,528= 19%
Mulch 338,400/1,044,528= 32.40%
Total $1,044,528
Product Allocation of Joint costs
Wood chips 48.60% *32,000=$15,552
Wood pulp 19%*32,000=$6,080
Mulch 32.40% *32,000=$10,368
Total $32,000
Journalize the following transactions by Bramble Printing Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select ""No Entry"" for the account titles and enter 0 for the amounts.)
1. Stockholders invest $87,000 cash to start the business.
2. Purchased three digital copy machines for $445,000, paying $108,000 cash and signing a 5-year, 6% note for the remainder.
3. Purchased $4,000 paper supplies on credit.
4. Cash received for photocopy services amounted to $7,300.
5. Paid $400 cash for radio advertising.
6. Paid $950 on account for paper supplies purchased in transaction 3.
7. Dividends of $1,400 were paid to stockholders.
8. Paid $2,100 cash for rent for the current month.
9. Received $2,200 cash advance from a customer for future copying.
10. Billed a customer for $350 for photocopy services completed.
(The Titles that are used on this chart are No. Account Titles and Explanation, Debit, Credit)
*LIST OF ACCOUNTS*
Accounts Payable, Accounts Receivable, Advertising Expense, Bonds Payable, Buildings, Cash, Common Stock, Dividends, Equipment, Gasoline Expense, Income Tax Expense, Income Taxes Payable, Insurance Expense, Land, Maintenance and Repairs expense, Mortgage Payable, No Entry, Notes Payable, Notes Receivable, Prepaid Insurance, Prepaid Rent, Rent expense, Rent revenue, repair services, retained earning, sales and wages expense, salaries and wages payable, sales revenue, service revenue, supplies, supplies expense, unearned service revenue, utilities expense, website
Answer: See attachment.
Explanation:
The journal is used to show the transactions that a particular company or business undertakes. The journal shows both the debit side and the credit side for the company.
The journal of the above transactions has been attached.
Fethe's Funny Hats is considering selling trademarked, orange-haired curly wigs for University of Tennessee football games. The purchase cost for a 2-year franchise to sell the wigs is $20,000. If demand is good (40% probability), then the net cash flows will be $26,000 per year for 2 years. If demand is bad (60% probability), then the net cash flows will be $3,000 per year for 2 years. Fethe's cost of capital is 13%. Do not round intermediate calculations.
Required:
a. What is the expected NPV of the project?
b. if Fethe makes the investment today, then it will have the option to renew the franchise fee for 2 more years at the end of Year 2 for an additional payment of $20,000.
Answer:
$350
Explanation:
We can calculate the expected NPV by calculating the present value of future cash flows first and then deduct these cash flows from the initial investment.
DATA
Inital Investment = $ 20,000
cost of capital = 13%
Calculation
Expected Cash flow for year 1 = $ 26,000 x 40% = 10,400
Expected Cash flow for year 2 = $3,000 * 0.6 = 1800
Expected cash flow = 12,200
Present value of future cash flows = $12,200/1.13 + $12,200/(1.13)^2
Present value of future cash flows = $10,796 + $9,554
Present value of future cash flows = $20,350
Expected NPV of the project = Present value of future cash flows - Initial Investment
Expected NPV of the project = $20,350 - $20,000 = $350
Requirement B
Present value of future cashflows = 20350
Present value of renewal in year2 = 20,000/(1.13)^2 = $15,673
Inital = $20,000
NPV = 20,350 - 20,000 - 15,673
NPV = -15,323
ABC Inc. made a $25,000 sale on account with the following terms: 2/10, n/30. If the company uses the net method to record sales made on credit, what is/are the debit(s) in the journal entry to record the sale
Answer: Debit Accounts Receivable for $24,500.
Explanation:
Based on the information that have been provided in the question, we should first know that under the net method, sales discount is not used.
Therefore, to record the sales that are made on credit will be:
Debit: Accounts receivables by:
= $25000 – (2% × $25,000)
= $25,000 - (0.02 × $25000)
= $25000 - $500
= $24,5000
Credit: Sales Revenue.
Therefore, the answer is Debit Accounts receivables for $ 24500
Does anybody know if CPA is profitable. I have heard that it is an easy way to make a side income whilst at college. Even a full time income for some ?
Explanation:
not the best option in my opinion
Hilary sells bottled water from a small stand by the beach. On the last day of summer vacation, many people are on the beach, and Hilary realizes that she can make a lot more money this day if she hires someone to walk up and down the beach selling water. She finds a college student named Edison and makes him the following offer: They'll each sell water all day and split their earnings (revenue minus the cost of water) equally at the end of the day. Hilary knows that if they both work hard, Edison will earn $90 on the beach and Hilary will earn $240 at her stand, so they will each take home half of their total revenue: If Edison shirks, he'll generate only $60 in earnings. Hilary does not know that Edison estimates his personal cost (or disutility) of working hard as opposed to shirking at $30. Once out of Hilary's sight, Edison faces a dilemma: work hard (put in full effort) or shirk (put in low effort).In terms of Edison's total utility, it is worse for him to ____(work hard or shirk). Taking into account the loss in utility that working hard brings to Edison, Hilary and Edison together ___ (are or are not) better off if Edison shirks instead of working hard.Hilary knows Edison will shirk if unsupervised. She considers hiring her good friend Carrie to keep an eye on Edison. The most Hilary should be willing to pay Carrie to supervise Edison, assuming supervision is sufficient to encourage Edison to work hard, is ____ .
a. 55.
b. 30.
c. 25.
d. 20.It turns out that Hilary's friend Carrue is unavilable that day, so Hilary cannot find a reliable person to watch Edison. Which of the following arrangements will ensure that Edison works hard without making Hilary any worse off than she is when Edison shirks?A. Pay Edison $20, regardless of how many bottles of water he sells.B. Allow Edison to keep 75% of the revenue from the bottles of water he sells instead of 50%.C. Allow Edison to keep 57% of the revenue from the bottles of water he sells instead of 50%.D. Make Edison promise to work hard.
Answer:
A)In terms of Edison's total utility, it is worse for him to shirk. Taking into account the loss in utility that working hard brings to Edison, Hilary and Edison together are better off if Edison shirks instead of working hard.
B) $20
C) Allow Edison to keep 57% of the revenue from the bottles of water he sells instead of 50% (c)
Explanation:
If Edison works hard he will earn = $90
If Harry work hard he will earn = $240
They will both take home : (90 + 240) / 2 = 330 /2 = $165 each
If Edison shirks he will earn = $60
therefore the total revenue = 60 + 240 = 300
They will both take home : 300 / 2 = $150 each
A)In terms of Edison's total utility, it is worse for him to shirk. Taking into account the loss in utility that working hard brings to Edison, Hilary and Edison together are not better off if Edison shirks instead of working hard.
B) The most Hilary should be willing to pay Carrie
should be : Amount earned without shirking - Amount earned with shirking
= $165 - $150 = $15 the closest answer in the option is $20
C) . Allow Edison to keep 57% of the revenue from the bottles of water he sells instead of 50%
Four Types of Organizational Culture Organizational culture is a system of shared beliefs and values that develops within an organization and guides its members' behavior. Culture can vary considerably across organizations, with each placing different emphases on risk-taking, treatment of employees, teamwork, rules and regulations, conflict and criticism, and rewards. This activity is important because different types of cultures are better suited to achieving different strategic goals, and managers can use this knowledge to their benefit.
The goal of this activity is to challenge your knowledge of the four types of organizational culture.
Read the description of an organization's culture and write each name to the type of organizational culture it best depicts.
Daveed Miranda Olivia
Caprice Joseph Aaron
Wallace Leslie
Clan Adhocracy Hierarchy Market
1. Daveed- Works for a real estate company with a culture that values employees'ability to focus on the customer, react quickly, an deliver quality work on time.
2. Miranda- works for a new entrepreneurial company that is characterized as being creative, making innovative products, and being adaptable in the marketplace.
3. Olivia works for an investment firm with a culture that focuses on productivity and profits over employee development and satisfaction.
4. Caprice- works for a regional airline whose corporate culture encourages employees to collaborate and become involved to increase their job satisfaction.
5. Joseph- works for a telecommunications company whose culture devotes considerable resources to hiring and developing employees.
6. Aaron- works for a computer company whose corporate culture is characterized by a formalized, structured work environment aimed at achieving effectiveness.
7. Wallace- works for an advertising agency whose corporate culture encourages employees to take risks and experiment with new ways of getting things done.
8. Leslie- works for a pharmaceutical company with a corporate culture that institutes a variety of control mechanisms to measure efficiency, timeliness, and reliability in the creation and delivery of products.
Answer:
1. Daveed = Market
2. Miranda = Adhocracy
3. Olivia = Market
4. Caprice = Clan
5. Joseph = Clan
6. Aaron = Hierarchy
7. Wallace = Adhocracy
8. Leslie = Hierarchy
Explanation:
Adhocracy: The characteristics of this corporate culture include experimentation, innovation, creativity, entrepreneurship, individual ingenuity and freedom, with high energy and risk-taking.
Hierarchy: This organizational culture is characterized by structure, control, formal workplace, institutional procedures, organized leadership, and consistency.
Market: The market culture is competitive, results-oriented, and tough and demanding leaders, who care only for profits.
Clan: A clan culture prevails where individuals are treated like parts of a big family with high collaboration, teamwork, communication, and consensus.
Antwaun wants to purchase new photography equipment. He sees an advertisement on a store's website for a 35% sale on 85mm lenses this weekend . If the original price of the lens he wanted is $599, what is the new price of the lens once it goes on sale ?
Answer:
$389.35
Explanation:
The original price is $599,
The advertised discount is 35%.
Price after discount will be
=$599- (35% of $599)
=$599 - (35/100 x $599)
=$599 - $209.65
=$389.35
The following information is available for Windsor Inc. for the year ended December 31, 2017:_______.
Loss on discontinued operations $66,000 Retained earnings January 1, 2017 $1,260,000
Rent revenue 98,000 Selling expenses 876,000
Income tax applicable to continuing operations 297,000 Income tax applicable to loss on discontinued operations 23,000
Administrative expenses 507,000 Cost of goods sold 1,648,000
Loss on write-down of inventory 37,000 Sales revenue 3,775,000
Gain on sale of equipment 31,000 Cash dividends declared 230,000
Unrealized gain on available-for-sale securities 27,000 Interest expense 57,000
200,000 shares were outstanding during all of 2017.
Answer:
Requirement
Prepare Income statement
Calculate the per share of common stock
Windsor Inc.
Income statement for the year ended December 31, 2017
Sales $3,775,000
Less: Cost of goods sold $1,648,000
Gross profit $2,127,000
Operating expenses
Selling expenses $876,000
Administrative expenses $507000
Total operative expenses $1,383,000
Operative income $744,000
Other revenues and (expenses):
Rent revenue $98000
Gain on sale of equipment $31000
Interest expenses ($57,000) $72,000
Income before income taxes $816,000
Income tax applicable to continuing $297,000
operations
income from continuing operations $519,000
Discontinued operations:
Loss on discontinued operations ($66000)
Income tax applicable to loss on ($23,000)
discontinued operations
Total discontinued operations $89,000
Income before extraordinary item $430,000
Extraordinary item:
Loss on write-down of inventory ($37000)
Income after extraordinary item $393,000
Other comprehensive income:
Unrealized gain on available-for-sale securities $27,000
Comprehensive Income $420,000
EPS = Net Income of a company / Outstanding Shares
EPS = $420,000/200,000
EPS = $2.1 per share
Find the future value of an annuity with monthly deposits of $150, made over a period of 10 years, with 5% interest compounded monthly g
Answer:
Explanation:
Future value of an annuity FVA = ?
annuity = 150 .
period = 10 years
= 10 x 12 = 120 months
rate of interest 5%
monthly interest = 5 / 12 = .41667
FVA = 150 [ ( 1.0041667)¹²⁰] / .0041667
X = 150 [ ( 1.0041667)¹²⁰] / .0041667
2.778 x 10⁻⁵ X = ( 1.0041667)¹²⁰
- 5 + log 2.778 + log X = 120 log 1.0041667
- 4.55627 + log X = .2167
log X = 4.77297
X = $59288.43 .
5.85 percent coupon bond with 10 years left to maturity is priced to offer a yield to maturity of 6.7 percent. You believe that in one year, the yield to maturity will be 6.0 percent. What is the change in price the bond will experience in dollars
Answer:
$50.92
Explanation:
10 years 9 years
Nper = 10*2 = 20 9*2 = 18
Rate = 6.7%/2 = 0.0335 6%/2 = 0.03
PMT = 1000*5.85%/2 = 29.25 1000*5.85%/2 = 29.25
FV = 1000 1000
PV (Price) = -PV(RATE, NPER, PMT, FV)
Price (10 years) = $938.77
Price (9 years) = $989.68
If interest rate decrease%. Change in price of bond = $989.68 - $938.77 = $50.92
For each item below, indicate whether a debit or credit applies.
a. Decrease in Notes Payable select an option
b. Increase in Dividends select an option
c. Increase in Common Stock select an option
d. Increase in Unearned Rent Revenue select an option
e. Decrease in Interest Payable select an option
f. Increase in Prepaid Insurance select an option
g. Decrease in Salaries and Wages Expense select an option
h. Decrease in Supplies select an option
i. Increase in Revenues select an option
j. Decrease in Accounts Receivable
Answer and Explanation:
The indication of each transaction is as follows
a. Note payable contains credit balance so if there is decrease so it would be shown on the debit side
b. Dividend contains debit balance so if there is an increase so it would be shown on the debit side
c. Common stock contains credit balance so if there is an increase so it would be shown on the credit side
d. Unearned rent revenue contains credit balance so if there is an increase so it would be shown on the credit side
e. Interest payable contains credit balance so if there is decrease so it would be shown on the debit side
f. Prepaid insurance contains debit balance so if there is an increase so it would be shown on the debit side
g. Expense contains debit balance so if there is an decrease so it would be shown on the credit side
h. Supplies contains debit balance so if there is an decrease so it would be shown on the credit side
i. Revenue contains credit balance so if there is an increase so it would be shown on the credit side
j. Account receivable contains debit balance so if there is an decrease so it would be shown on the credit side
Now that he has a part-time job, your younger brother Daniel is opening up his own checking account. You want to pass on what you have learned about checking accounts to him. Prepare a list of recommendations for Daniel covering the following topics: Questions he should ask before opening an account Three ideas on how best to manage his account Three features of online and mobile banking that he should use Overdraft protection: Opt-in or opt-out?
Answer:
1. He should ask about all the fees the bank charges and interest rates. He should also ask why he should open up his checking account with them. He should compare banks to see which is the best option for him.
2. One way he can best manage his account is to download the mobile banking app if there is one. A second idea would be to make sure he is being cautious about entering the pin number in busy stores or shopping on unsecured websites. A third idea for him to best manage his account would be to not get overdraft protection. There can be a lot of fees when getting this protection.
3. One feature of online and mobile banking he should use is direct deposit. It is a fast way to directly receive money into your checking account. Another feature is many apps allow access to both the checking and savings account. It is an quick way to transfer money between these two accounts. A third feature is cashing checks online. He can cash his checks online by using the mobile app and taking a picture of it.
4. He should not get overdraft protection. He shouldn't get overdraft protection because it adds up after you have run out of money. Overdraft protection is one of the main ways banks make a profit.
Explanation:
On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan. Bob is guaranteed to receive a base fee of $5,000 for his services in addition to a bonus depending on when the project is completed. Nolan created incentives for Bob to finish the barn as soon as he can without jeopardizing the structural integrity of the barn. Nolan offered to pay an additional 30% of the base fee if the project finished 2 weeks early and 10% if the project finished a week early. The probability of finishing 2 weeks early is 30% and the probability of finishing a week early is 60%.What is the expected transaction price with variable consideration estimated as the expected value?a. $4,750b. $5,000c. $5,750d. $5,50
Answer: c. $5,750
Explanation:
Expected value will be the weighted average of the payoffs of the different scenarios.
= Base fee + Addition if finished 1 week early + Addition if finished 2 weeks early + No addition
= 5,000 + ( 5,000 * 10% * 60%) + ( 5,000 * 30% * 30%) + (5,000 * 0% * 10%)
= $5,750
XYZ Company is union free. Because of increased costs and operational efficiency, it is in XYZ Company’s best interest to avoid unionization. While still in this non-unionized state, it is important for YYZ to do all EXCEPT which of the following?
Answer:
Make sure employees understand that anyone who attempts unionization will be discharged
Explanation:
Companies are not allowed to threaten employees who are interested in forming a union with discharge.
A steel rolling mill can produce I-beams at the rate of 20 tons per week. Customer demand for the beams is 5 tons per week. To produce the I-beams, the mill must go through a setup that requires changing to the required rolling patterns. Each setup costs the mill $10,000 in labor and lost production. The I-beam cost the mill $2,000 per ton and has an inventory holding rate of 25 percent. Assume the plant operates for 50 weeks in a year. Using Microsoft Excel, calculate the following:
a) the optimal production batch size of the mill.
b) The maximum (highest) inventory level at the plant
c) The annual inventory holding cost
d) The annual setup cost of the plant
e) The annual product cost f) Total Annual Inventory Cost (TAIC)
Answer:
A) 114 tons
C) $22800
D) $22807.02
Explanation:
Given Data:
annual holding cost (H) = 25% * $2000
setup cost (s) = $10000
production rate = 20
weekly demand = 5 tons
first we have to calculate the Annual demand , holding cost and the usage rate:
Annual demand = 5 tons * 52 weeks
= 260 tons
Holding cost (H) = 25% * $2000
= $500
Usage rate = (production rate) / (customer demand)
= 20 / 5 = 4 tons
A) Optimal production batch size of the mill
Qp = [tex]\sqrt{\frac{2DS}{H} } * \sqrt{\frac{P}{P-u} }[/tex]
= [tex]\sqrt{\frac{2*260*10000}{500} } * \sqrt{\frac{20}{20-4} }[/tex]
= 114 tons
C) The annual inventory holding cost
Annual holding cost
= [tex]\frac{Imax}{2} * H[/tex]
Imax = ( Qp / P ) (p-u)
= (114 / 20 ) ( 20 - 4 )
= 91.2 tons
therefore Annual holding cost : = ( 91.2 / 2) * 500 = $22800
D) Annual setup cost of the plant
= [tex]\frac{D}{Qp} * S[/tex]
D = 260
Qp = 114
S = $10000
hence Annual setup cost of the plant
= (260/114) * 10000
= $22807.02
What is the growth rate of nominal GDP? Y0 real GDP= $1200 (in millions) Y1 real GDP= $1400 (in millions) Y0 price level= 125 Y1 price level= 140
Answer:
12%
Explanation:
The computation of the growth rate of nominal GDP is shown below:
As we know that
Nominal GDP = Real GDP × (Price level ÷ 100)
For
Nominal GDP, Y0
= $1,200 × (125 ÷ 100)
= $1,500
And,
Nominal GDP, Y1 is
= $1,200 × (140 ÷ 100)
= $1,680
Now the growth rate of nominal GDP is
= ($1,680 ÷ $1,500) - 1
= 12%
On December 31, 2012, Mass Construction Inc. signs a contract with the state of Massachusetts Department of Transportation to manufacture a bridge over the Merrimack. Mass Construction anticipates the construction will take three years. The company's accountants provide the following contract details relating to the project:
Contract price $520 million
Estimated construction costs $300 million
Estimated total profit $220 million
During the three-year construction period, Tri-State incurred costs as follows:
2013 $ 30 million
2014 $180 million
2015 $ 90 million
Tri-State uses the percentage of completion method to recognize revenue. Which of the following represent the revenue recognized in 2013, 2014, and 2015?
A. $52 million, $312 million, $156 million
B. $12 million, $72 million, $36 million
C. $140 million, $140 million, $140 million
D. $30 million, $180 million, $90 million
E. None of the above
Answer: A. $52 million, $312 million, $156 million
Explanation:
The percentage of the total cost incurred in a year is the percentage of revenue to recognize in that year.
2013 Revenue;
= (30/ 300) * 520
= $52 million
2014 Revenue;
= (180/300) * 520
= $312 million
2015
= (90/300) * 520
= $156 million
On September 1 of the current year,Scots Company experienced a flood that destroyed the company's entire inventory.Because the company had not completed its month end reporting for August,it must estimate the amount of inventory lost using the gross profit method.At the beginning of August,the company reported beginning inventory of $215,450.Inventory purchased during August was $192,530.Sales for the month of August were $542,500.Assuming the company's typical gross profit ratio is 40%,estimate the amount of inventory destroyed in the flood.A) $87,480B) $134,520C) $109,980D) $82,480E) $81,480
Answer:
D) $82,480
Explanation:
The computation of the amount of inventory destroyed is shown below:-
Cost of Goods available for sale
= Beginning Inventory + Inventory purchased
= $215,450 + $192,530
= $407,980
Cost of Goods Sold = Sales - Gross profit
= $542,500 - ($542,500 × 40%)
= $325,500
The Estimated amount of inventory destroyed
= Cost of Goods available for sale - Cost of goods sold
= $407,980 - $325,500
= $82,480
Clean Tel, Inc. is considering investing in an 11-year project with annual cash inflows of $1,000,000. These cash inflows have an initial investment of $7,139,000. At what discount rate would this present value be the same as the initial investment
Answer:
8%
Explanation:
Use the Time Value of Money Techniques to find the discount rate as follows:
Pmt = $1,000,000
Pv = - $7,139,000
Fv = $0
P/yr = 1
N = 11
I = ?
Using a financial calculator to input the values as above, the discount rate (i) to be used is 8%