The PPP theory fails in reality for all of the following reasons EXCEPT Group of answer choices monopolistic or oligopolistic practices in goods markets. restrictions on trade. inflation rates are unrelated to money supply growth. transport costs. the inflation data reported in different countries are based on different commodity baskets.

Answers

Answer 1

Answer:

inflation rates are unrelated to money supply growth.

Explanation:

purchasing power parity which is regarded as (PPP) is a macroeconomic analysis metric which gives comparison between economic productivity aas well as standards of living existing between countries. It can be regarded as economic theory which gives comparison of currencies of different countries using an approach of "basket of goods". The PPP theory can hold in reality for instance, when inflation rates are unrelated to money supply growth.

EXCEPT Group of answer choices monopolistic or oligopolistic practices in goods markets. restrictions on trade. the inflation data reported in different countries are based on different commodity baskets.


Related Questions

Clinicke Inc. sells merchandise of $800,000 in 2020 that includes a two-year limited warranty against manufacturing defects as part of the selling price. Warranty costs are estimated to be 1% of sales. If the company incurred $2,200 of actual costs in responding to warranty claims in 2020 (related to 2020 sales), how much should Clinicke record in warranty expense for 2020

Answers

Answer:

the amount recorded in the warranty expense is $8,000

Explanation:

The computation of the amount recorded in the warranty expense is shown below:

= Sale value of merchandise inventory × estimated percentage

= $800,000 × 1%

= $8,000

hence, the amount recorded in the warranty expense is $8,000

So the above formula should be applied

. Calculate the estimated sales, by month and in total, for the third quarter. 2. Calculate the expected cash collections, by month and in total, for the third quarter. 3. Calculate the estimated quantity of beach umbrellas that need to be produced in July, August, September, and October. 4. Calculate the quantity of Gilden (in feet) that needs to be purchased by month and in total, for the third quarter. 5. Calculate the cost of the raw material (Gilden) purchases by month and in total, for the third quarter. 6. Calculate the expected cash disbursements for raw material (Gilden) purchases, by month and in total, for the third quarter.

Answers

Question Completion:

Milo Company manufactures beach umbrellas. The company is preparing detailed budgets for the third quarter and has assembled the following information to assist in the budget preparation: The Marketing Department has estimated sales as follows for the remainder of the year (in units): July 38,500 October 28,500 August 87,000 November 15,000 September 56,000 December 15,500 The selling price of the beach umbrellas is $14 per unit. All sales are on account. Based on past experience, sales are collected in the following pattern: 30% in the month of sale 65% in the month following sale 5% uncollectible Sales for June totaled $504,000. The company maintains finished goods inventories equal to 15% of the following month’s sales. This requirement will be met at the end of June. Each beach umbrella requires 4 feet of Gilden, a material that is sometimes hard to acquire. Therefore, the company requires that the ending inventory of Gilden be equal to 50% of the following month’s production needs. The inventory of Gilden on hand at the beginning and end of the quarter will be: June 30 91,550 feet September 30 ? feet Gilden costs $0.60 per foot. One-half of a month’s purchases of Gilden is paid for in the month of purchase; the remainder is paid for in the following month. The accounts payable on July 1 for purchases of Gilden during June will be $49,290. Required: 1.

Answer:

Milo Company

                                           July            Aug.             Sept.           Total

1. Estimated sales       $539,000   $1,218,000    $784,000   $2,541,000

2. Cash collections     $489,300     $715,750 $1,026,900   $2,231,950

                                          July      Aug.         Sept.      Oct.  

3. Production units       45,775   72,350    51,875    26,475

                                                July            Aug.             Sept.           Total

4. Quantity of Gilden (feet)  236,250      248,450      156,700     641,400

5. Cost of Purchases          $141,750    $149,070     $94,020    $384,840

6. Cash disbursements for raw

     material purchases     $120,165     $145,410     $121,545    $387,120

Explanation:

a) Data and Calculations:

Selling price of the beach umbrellas = $14 per unit

                  June      July      Aug.         Sept.      Oct.         Nov.      Dec.

Estimated

sales                     38,500   87,000   56,000   28,500  15,000    15,500

Sales    $504,000 539,000 1,218,000 784,000 399,000 210,000  217,000

Sales Collection:

                                    June       July          Aug.             Sept.           Total

Sales on credit                         539,000   1,218,000    784,000   $2,541,000

Sales Collection:

30% month of sale                    161,700     365,400      235,200     762,300

65% month following              327,600     350,350       791,700   1,469,650

5% uncollectible

Total collections                   $489,300    $715,750 $1,026,900  $2,231,950

                                        July       August     September    October

Beginning Inventory  $75,600   $80,850      $182,700     $117,600

Ending Inventory         80,850     182,700         117,600       59,850

Sales                         539,000   1,218,000        784,000    399,000

Finished Goods Inventory:

                      June      July        Aug.        Sept.      Oct.         Nov.       Dec.

Estimated

sales           36,000   38,500   87,000   56,000   28,500   15,000   15,500

Ending           5,775    13,050     8,400      4,275      2,250

Available      41,775    51,550   85,400   60,275    30,750

Beginning    5,400      5,775    13,050     8,400       4,275

Production 36,375    45,775   72,350    51,875    26,475

Raw materials inventory:

                                     June        July         Aug.         Sept.         Oct.  

Production units        36,375    45,775     72,350     51,875      26,475

Production needs    145,500   183,100  289,400  207,500    105,900

Ending inventory       91,550   144,700   103,750    52,950

Available materials 237,050  327,800   393,150  260,450

Beginning inventory                  91,550   144,700   103,750      52,950

Purchases                               236,250  248,450   156,700

Cost of Purchases                 $141,750 $149,070  $94,020

Payment for purchases:

Accounts payable                  $49,290

50% month of purchase          70,875    74,535      47,010

50% following purchase                          70,875     74,535

Total payments                     $120,165 $145,410  $121,545

Stallman Company took a physical inventory on December 31 and determined that goods costing $200,000 were on hand. Not included in the physical count were $25,000 of goods purchased from Pelzer Corporation, FOB, shipping point, and $22,000 of goods sold to Alvarez Company for $30,000, FOB destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end.
What amount should Stallman report as its December 31 inventory?
In its first month of operations, Bethke Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Assuming there are 360 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Bethke uses a periodic inventory system.
A) Cost of the ending inventory LIFO.
B) Cost of the ending inventory.

Answers

Answer:

1. $247,00

A. $2,720

B.$2,220

Explanation:

1. Calculation to determine What amount should Stallman report as its December 31 inventory

Using this formula

December 31 Ending inventory = Inventory count as per physical count + Inventory in transit FOB Shipping point + Inventory in transit FOB destination

Let plug in the formula

December 31 Ending inventory= $200,000 + $25,000+ $22,000

December 31 Ending inventory= $247,000

Therefore What amount should Stallman report as its December 31 inventory is $247,000

A) Calculation to determine the Cost of the ending inventory FIFO.

Cost of ending inventory = (200 units * $8) +(360 units- 200 units * $7)

Cost of ending inventory = (200 units * $8) + (160 units * $7)

Cost of ending inventory= $1,600 + $1,120

Cost of ending inventory= $2,720

Therefore The Cost of ending inventory is $2,720

(b) Calculation to determine The cost of ending inventory under the LIFO method

Cost of ending inventory = (300 units * $6) +(360 units -300 units* $ 7)

Cost of ending inventory = (300 units * $6) + (60 units * $ 7)

Cost of ending inventory = $1,800 + $420

Cost of ending inventory = $2,220

Therefore The cost of ending inventory under the LIFO method will be $2,220

What is an example of an asset class?

A.
dividends

B.
inflation

C.
common stocks

D.
compounding interest

Answers

Answer: coming stocks

Explanation: just took test

Common stocks are an example of an asset class. Hence, option C is correct.

What is Common stocks?

The most accessible form of a company's shares, known as common stock, is what you would most usually come across when trading equities on an exchange. These shares normally have voting privileges but are paid out last in the order of preference if a corporation goes bankrupt.

Common stocks are securities that indicate a person's ownership in a particular firm and their right to share in the venture's profits. Such a stock option grants people the right to vote for the company's board of directors and also gives them the ability to influence business policy.

The primary distinction between preferred and common stock is that common stock grants stockholders voting rights, whilst preferred stock does not.

Thus, option C is correct.

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On January 1, 2021, the Allegheny Corporation purchased equipment for $150,000. The estimated service life of the equipment is 10 years and the estimated residual value is $18,000. The equipment is expected to produce 240,000 units during its life. Required: Calculate depreciation for 2021 and 2022 using each of the following methods. 2. Double-declining-balance.

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Purchase price= $150,000

Useful life= 10 years

Salvage value= $18,000

To calculate the depreciation expense under the double-declining balance, we need to use the following formula:

Annual depreciation= 2*[(book value)/estimated life (years)]

2021:

Annual depreciation= 2*[(150,000 - 18,000) / 10]

Annual depreciation= $26,400

2022:

Annual depreciation= 2*[(132,000 - 26,400) / 10*

Annual depreciation= $21,120

You are evaluating two investment alternatives. One is a passive market portfolio with an expected return of 10% and a standard deviation of 16%. The other is a fund that is actively managed by your broker. This fund has an expected return of 16% and a standard deviation of 20%. The risk-free rate is currently 7%. Answer the questions below based on this information. a. What is the slope of the Capital Market Line

Answers

Answer:

the  slope of the capital market line is 0.1875

Explanation:

The computation of the slope of the capital market line is shown below:

= (Expected return - risk free rate of return) ÷ (standard deviation)

= (10% - 7%) ÷ 16%

= 3% ÷ 16%

= 0.1875

hence, the  slope of the capital market line is 0.1875

We simply used the above formula to measured the slope of the capital market line

Myriad Solutions, Inc. issued 12% bonds, dated January 1, with a face amount of $350 million on January 1, 2021, for $312,921,210. The bonds mature on December 31, 2030 (10 years). For bonds of similar risk and maturity the market yield is 14%. Interest is paid semiannually on June 30 and December 31. 1. What would be the net amount of the liability Myriad would report in its balance sheet at December 31, 2021

Answers

Answer:

Myriad Solutions, Inc.

The net amount of the liability that Myriad would report in its balance sheet at December 31, 2021 is:

= $314,793,494

Explanation:

a) Data and Calculations:

Face value of bonds = $350 million

Discounted value (Cash receipt) = $312,921,210

Total amount of discount = $37,078,790

Bond's interest rate = 12%

Market yield = 14%

June 30, 2021:

Cash payment for interest = $21 million ($350 m * 6%)

Bonds' Interest expense = $21,904,485 ($312,921,210 * 7%)

Amortization of bond discount = $904,485 ($21,904,485 - $21 million)

Bond book value = $313,825,695 ($312,921,210 + $904,485)

Dec. 31, 2021:

Cash payment for interest = $21 million ($350 m * 6%)

Bonds' Interest expense = $21,967,799 ($313,825,695 * 7%)

Amortization of bond discount = $967,799 ( $21,967,799 - $21 million)

Bond book value = $314,793,494 ($313,825,695 + $967,799)

Batista Company management wants to maintain a minimum monthly cash balance of $19,900. At the beginning of April, the cash balance is $19,900, expected cash receipts for April are $244,400, and cash disbursements are expected to be $253,300. How much cash, if any, must be borrowed to maintain the desired minimum monthly balance

Answers

Answer:

the amount must be borrowed is $8,900

Explanation:

The computation of the amount must be borrowed is shown below:

Opening cash balance $19,900

Add: cash receipts $244,400

Less: cash disbursements -$253,300

Cash balance after disbursements $11,000

Minimum monthly cash balance $19,900

Amount to be borrowed $8,900

hence, the amount must be borrowed is $8,900

UPS, a delivery services company, has a beta of 1.4, and Wal-Mart has a beta of 0.8. The risk-free rate of interest is 4% and the market risk premium (rM-rRF) is 6%. What is the expected return on a portfolio with 40% of its money in UPS and the balance in Wal-Mart?

Answers

Answer:

10.24%

Explanation:

the expected return on a portfolio can be determined using CAPM

According to the capital asset price model: Expected rate of return = risk free + beta x (market rate of return - risk free rate of return)

Beta of the portfolio = (percentage of UPS in portfolio x beta of UPS) + (percentage of Wal-mart in portfolio x beta of Wal - Mart )

(1.4 x 0.4) + (0.8 x 0.6)

= 0.56 + 0.48

= 1.040

Expected return = 4% + (1.040 x 6%) = 10.24%

impact of increasing number on social grants may have on teenage mothers ​

Answers

Answer:When the number of social grants to teen mothers are increased, their social lives are impacted negatively. These teen mothers see themselves as pariahs and burdens to the society. They are likely to withdraw from social life due to the shame and low self-esteem they often experience.

Explanation:

This leads to more employment and reduces the employment rates. 3) Free education grant , especially for poor children enable them to get educated and work to earn money. Hence, unemployment is reduced.

The impact of social grants on teenage mothers is one that has brought about laziness and dependency of them on the government.

This social grant have motivated a lot of teenagers to become carefree and pregnant and there is a lot of teen mothers who drop out of school since there is social grant to answer for their needs.

What impact of social grants might have on teenage mothers?

Due to the increase in the use of social grants a lot of teen mothers are said to be on the increased also.

The social lives of these teens are been impacted negatively. These teen mothers are said to be lazy and do not work and they parties and become burdens to the society.

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Pitney Co. purchased an office building, land, and furniture for $639,300 cash. The appraised value of the assets was as follows:

Land $136,043
Building 179,004
Furniture 400,969
Total $716,016

Required:
a. Compute the amount to be recorded on the books for each asset.
b. Show the purchase in a horizontal statements.
c. Prepare the general journal entry to record the purchase.

Answers

Solution :

a). Amount to be recorded on the books for each of the assets.

                          Working                                                  Allocated cost($)

Land        (639,300 / 716,016 )x 136,043                                 121467

Building   (639,300 / 716,016 )x 179,004                                 159825

Furniture   (639,300 / 716,016 )x 400,969                              358008

Total                                                                                          639,300

b). Statement model

Assets : Cash + Land + Building + Furniture

            639,300 + 121,467 +  159825 + 358008

Cash flow = 639,300

c). Journal entry

General journal                        Debit($)           Credit($)

Land                                        121,467

Building                                   159,825

Furniture                                  358,008

Cash                                                             639,300  

what is an example of a one-to-many relationship

Answers

Answer:

Owners-Pets.

Explanation:

The one-to-many relationship in database is when each record in Table A have several linked record in Table B. But in Table B, it has only one link in Table A.

An example of a one-to-many relationships is owners-pets relationship. In such databases, pet will have one owner but one owner may have many pets.

Therefore, owners-pets is an example of one-to-many relationship.

Oakwood Financial Inc. was organized on February 28. Projected selling and administrative expenses for each of the first three months of operations are as follows:
March $132,700
April 124,700
May 113,500
Depreciation, insurance, and property taxes represent $28,000 of the estimated monthly expenses. The annual insurance premium was paid on February 28, and property taxes for the year will be paid in June. 73% of the remainder of the expenses are expected to be paid in the month in which they are incurred, with the balance to be paid in the following month.
Prepare a schedule indicating cash payments for selling and administrative expenses for March, April, and May.

Answers

Answer:

Results are below.

Explanation:

First, we must deduct the depreciation expense from each month. Depreciation is not a cash disbursement, and insurance and taxes are paid once a year.

March= 132,700 - 28,000= 104,700

April= 124,700 - 28,000= 96,700

May= 113,500 - 28,000= 85,500

Now, the cash disbursements for each month:

March:

Selling and administrative costs from March= 104,700*0.73= 76,431

Total cash disbursement= 76,431

April:

Selling and administrative costs from March= 104,700*0.27= 28,269

Selling and administrative costs from April= 96,700*0.73= 70,591

Total cash disbursement= $98,860

May:

Selling and administrative costs from May= 85,500*0.73= 62,415

Selling and administrative costs from April= 96,700*0.27= 26,109

Total cash disbursement= $88,524

Grand River Corporation reported taxable income of $400,000 in year 1 and paid federal income taxes of $160,000. Not included in the computation was a disallowed meals expense of $3,100, tax-exempt income of $2,100, and deferred gain on an installment sale from a prior year of $36,000. The corporation's current earnings and profits for year 1 would be:

Answers

Answer: $275,000

Explanation:

Earnings and Profit for the year:

= Taxable income - Federal income taxes - Disallowed meals expense + Tax exempt income + Deferred gain

= 400,000 - 160,000 - 3,100 + 2,100 + 36,000

= $275,000

The four career pathways in Finance are

Banking and Related Services, Insurance Services, Retail Sales, and Business Financial Management.

Securities Law, Insurance Services, Financial and Investment Planning, and Business Financial Management.

Banking and Related Services, Retail Sales, Securities Law, and Business Financial Management.

Banking and Related Services, Insurance Services, Financial and Investment Planning, and Business Financial Management.

Answers

Answer:

Banking and Related Services, Insurance Services, Financial and Investment Planning, and Business Financial Management.

Answer: A.

Explanation:

Essence of Skunk Fragrances Calculate the average collection period. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) What is the receivables turnover? (Use 365 days a year. Do not round intermediate calculations and round your answer to 3 decimal places, e.g., 32.161.) What is the amount of the company’s average receivables? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Answers

Answer:

1. Average collection period 41.25 days

2. Receivable Turnover 8.84848485

3. Average Receivable $521,558.22

Explanation:

1. Calculation for Average collection period

First step is to calculate the Percentage of customers not receiving discounts

Percentage of customers not receiving discounts = 100% - 65%

Percentage of customers not receiving discounts= 35%

Now let calculate Average collection period

Average collection period = (65% * 15) + (35% *90)

Average collection period = 9.75 + 31.5

Average collection period= 41.25 days

Therefore the Average collection period is 41.25 days

2. Calculation to determine the Receivable Turnover using this formula

Receivable Turnover = 365 / Average collection period

Let plug in the formula

Receivable Turnover = 365/41.25

Receivable Turnover = 8.84848485

Therefore the Receivable Turnover is 8.84848485

3. Calculation to determine the amount of the company’s average receivables

First step is to calculate the Total Credit Sales

Total Credit Sales = $6,500 * $710

Total Credit Sales= $4,615,000

Now let calculate the Average Receivable using this formula

Average Receivable =Credit sales / Receivable turnover

Let plug in the formula

Average Receivable= $4,615,000 /8.84848485

Average Receivable= $521,558.22

Therefore Average Receivable is $521,558.22

Bonita Industries uses the periodic inventory system. For the current month, the beginning inventory consisted of 481 units that cost $60 each. During the month, the company made two purchases: 719 units at $63 each and 361 units at $65 each. Bonita Industries also sold 1203 units during the month. Using the average cost method, what is the amount of ending inventory

Answers

Answer:

$22,389

Explanation:

The computation of the ending inventory is shown below:

But before that the average cost per unit and the ending units should be determined

The average cost per unit is

= (481 units × $60 + 719 units × $63 + 361 units × $65) ÷ (481 units + 719 units + 361 units)

= ($28,860 + $45,297 + $23,465)  ÷ (1,561 units)

= $62.54

Now the ending inventory units is

= 1,561 units - 1,203 units

= 358 units

Now finally the ending inventory is

= 358 units × $62.54

= $22,389

Eclipse Motor Company manufactures two types of specialty electric motors, a commercial motor and a residential motor, through two production departments, Assembly and Testing. Presently, the company uses a single plantwide factory overhead rate for allocating factory overhead to the two products. However, management is considering using the multiple production department factory overhead rate method. The following factory overhead was budgeted for Eclipse:

Assembly Department $280,000
Testing Department 800,000
Total $1,080,000

Direct machine hours were estimated as follows:

Assembly Department 4,000 hours
Testing Department 5,000
Total 9,000 hours

In addition, the direct machine hours (dmh) used to produce a unit of each product in each department were determined from engineering records, as follows:

Commercial Residential
Assembly Department 1.5 dmh 1.0 dmh
Testing Department 3.0 2.0
Total machine hours per unit 4.5 dmh 3.0 dmh

Required:
a. Determine the per-unit factory overhead allocated to the commercial and residential motors under the single plantwide factory overhead rate method, using direct machine hours as the allocation base.
b. Determine the per-unit factory overhead allocated to the commercial and residential motors under the multiple production department factory overhead rate method, using direct machine hours as the allocation base for each department.

Answers

Answer:

A. Commercial 540

Residential 360

B. Commercial 585

Residential 390

Explanation:

a) Calculation to Determine the per-unit factory overhead allocated to the commercial and residential motors .

First step is to calculate the Plantwide overhead rate using this formula

Plantwide overhead rate =Estimated overhead /Esimated machine hours

Let plug in the formula

Plantwide overhead rate = 1080000/9000

Plantwide overhead rate = $ 120 per MH

Now let Determine the per-unit factory overhead allocated to the commercial and residential motors

Using this formula

Per -unit factory overhead allocated=Actual MH per unit *Plantwide overhead rate

Let plug in the formula

Per -unit factory overhead allocated to COMMERCIAL=4.5 dmh*120

Per -unit factory overhead allocated to COMMERCIAL=540

Per -unit factory overhead allocated to RESIDENTIAL=3.0 dmh*120

Per -unit factory overhead allocated to RESIDENTIAL=360

Therefore the per-unit factory overhead allocated to the commercial and residential motors under the single plantwide factory overhead rate method will be:

Commercial 540

Residential 360

b. Calculation to Determine the per-unit factory overhead allocated to the commercial and residential motors

First step is to calculate the Departmental overhead rate

ASSEMBLY TESTING

Estimated overhead 280,000 800,000

÷Estimated machine hours each department 4,000 5,000

=Departmental overhead rate 70 160

Now calculation the per-unit factory overhead allocated to the commercial and residential motors

COMMERCIAL RESIDENTIAL

Assembly 1.5 dmh*70=105 1.0 dmh*70=70

Testing 3.0*160= 480 2.0*160= 320

Per -unit factory overhead allocated 585 390

(105+480=585)

(70+320=390)

Therefore the per-unit factory overhead allocated to the commercial and residential motors under the multiple production department factory overhead rate method will be:

Commercial 585

Residential 390

Choose, define, and restrict a topic based on a problem or issue you might deal with in one of the following divisions of a company: a. IT b. human resources/diversity c. security d. marketing e. accounting f. health care/health risks g. energy/utilities h. animal rights i. transportation j. environment Discuss the steps you took to narrow the topic, the audience you would be writing for, and the types of questions that audience may have.

Answers

Answer:

Human resource department is the one of the most important department in any organization. It has to deal with the concerns and problems of all the employees and satisfy them positively.

Explanation:

Human resource department is the first go to department for any employee when he faces some problem related to discrimination, demotivation, stressed or low pay. It is responsibility of human resource department to solve the problems that employees are facing. They have to resolve any issues that an employee is facing and assure him that his concerns will be dealt with pure justice.

Parking lot staff budget Adventure Park is a large theme park. Staffing for the theme park involves many different labor classifications, one of which is the parking lot staff. The parking lot staff collects parking fees, provides directions, and operates trams. The staff size is a function of the number of daily vehicles. Adventure Park has determined from historical experience that a staff member is needed for every 200 vehicles. Adventure Park estimates staff for both school days and nonschool days. Nonschool days are higher attendance days than school days. The number of expected vehicles for each day is as follows:

School Days Nonschool Days
Number of vehicles per day 3,000 8,000
Number of days per year 165 200

Parking fees are $10 per vehicle. Each parking lot employee is paid $110 per day.

Required:
a. Determine the annual parking lot staff budget for school days, nonschool days, and total.
b. Determine the parking revenue for school days, nonschool days, and total.
c. If depreciation expense and other expenses for running the parking lot were estimated to be $2 million per year, determine the parking lot's budgeted profit.

Answers

Answer: See explanation

Explanation:

a. Determine the annual parking lot staff budget for school days, nonschool days, and total.

For school days:

Number of staff required per day = 3000/20 = 15

Number of staff days per year = 15 × 165 = 2475

Annual parking lot staff budget = 2475 × $110 = $272250

For non school days:

Number of staff required per day = 8000/20 = 40

Number of staff days per year = 40 × 200 = 8000

Annual parking lot staff budget = 800 × $110 = $880,000

Total annual parking lot staff budget = $272250 + $880000 = $1152250

b. Determine the parking revenue for school days, nonschool days, and total.

For school days:

Total number of vehicles per year = 3000 × 165 = 495000

Parking revenue = 495000 × $10 = $4950000

For non school days:

Total number of vehicles per year = 8000 × 200 = 1600000

Parking revenue = 1600000 × $10 = $16000000

Total parking revenue = $4950000 + $16000000 = $20950000

c. If depreciation expense and other expenses for running the parking lot were estimated to be $2 million per year, determine the parking lot's budgeted profit.

Parking revenue = $20,950,000

Less: Parking lot staff payroll = $1152250

Less: Depreciation and other expenses = $2000000

Budgeted profit = $177977500

If you travel a lot for work and use cash to pay for most purchases, which type of financial institution would you probably have your
account at?
O credit union
O national or regional bank

Answers

The correct answer is national or regional bank

Required information Skip to question [The following information applies to the questions displayed below.] The December 31, 2021, adjusted trial balance for Fightin' Blue Hens Corporation is presented below. Accounts Debit Credit Cash $ 10,400 Accounts Receivable 134,000 Prepaid Rent 4,400 Supplies 22,000 Equipment 240,000 Accumulated Depreciation $ 119,000 Accounts Payable 10,400 Salaries Payable 9,400 Interest Payable 3,400 Notes Payable (due in two years) 24,000 Common Stock 140,000 Retained Earnings 44,000 Service Revenue 340,000 Salaries Expense 240,000 Rent Expense 12,000 Depreciation Expense 24,000 Interest Expense 3,400 Totals $ 690,200 $ 690,200 Required: 1. Prepare an income statement for the year ended December 31, 2021.

Answers

Answer and Explanation:

The preparation of the income statement is presented below:

Service Revenue 340,000

Less:

Salaries Expense 240,000

Rent Expense 12,000

Depreciation Expense 24,000

Interest Expense 3,400

Net income $60,600

Hence, we simply deduct the expenses from the service revenue so that we get the net income

The Finishing Department had 6,800 incomplete units in its beginning Work-in-Process Inventory which were 100% complete as to materials and 40% complete as to conversion costs. 18,600 units were received from the previous department. The ending Work-in-Process Inventory consisted of 3,800 units which were 50% complete as to materials and 40% complete as to conversion costs. The Finishing Department uses first-in, first-out (FIFO) process costing. How many units were started and completed during the period

Answers

Answer:

14,800 units

Explanation:

To understand units started and completed principle, ask yourself, "Out of the units Started during the year, how many units were Completed?"

Since we are using FIFO the units in Inventory will be worked on first followed by the units introduced in process during the year.

So this can be calculated out of units completed as follows :

Units started and completed = Units Started - Units in Ending Work in Process

therefore,

Units started and completed = 18,600 - 3,800 = 14,800 units

Conclusion :

Units started and completed during the period were 14,800 units.

Patients use a self-serve kiosk to confirm their arrival at an outpatient clinic. They then proceed to the receptionist to update any personal information. After that, a nurse will record the patient's vital signs. A physician will then consult with the patient and prescribe appropriate treatments. The patient will then visit the checkout station to settle payment and schedule the next appointment, if needed. Processing times and other information on the process are presented in the table below:

Resource Process Processing time (minutes per patient) Number of workers Wage rate ($per hour)
Self-service Check in 1 n/a n/a
Receptionist Update information 5 2 15
Nurse Record vital signs 10 3 30
Physician Treat patient 30 5 100
Checkout Collect payment 10 2 15

Required:
What is the labor content?

Answers

The labor content will be  55 minutes per patient.

What is labor?

In an economy, labor is related to the tangible, intellectual, and psychological effort required to generate goods and services.

The utilization of labor is done in four processes which include-

information updaterecording vital signstreating the patientpayment collection

The calculation of labor content is based on the above-mentioned process time done by workers.

Labor content =5+10+30+10

                        =55  minutes

Therefore, labor content will be 55 minutes per patient.

Learn more about labor, here:

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Superior Developers sells lots for residential development. When lots are sold, Superior recognizes income for financial reporting purposes in the year of the sale. For some lots, Superior recognizes income for tax purposes when the cash is collected. In 2020, Superior sold lots for $40 million for which no cash was collected at the time of the sale. This cash will be collected equally over 2021 and 2022. The enacted tax rate was 40% at the time of the sale. In 2021, a new tax law was enacted, revising the tax rate from 40% to 25% beginning in 2022. Calculate the total amount by which Superior should change its deferred tax liability in 2021. (Enter your answer in millions rounded to 2 decimal places (i.e., 5,500,000 should be entered as 5.50).)

Answers

Answer:

$11 million

Explanation:

Calculation for the total amount by which Superior should change its deferred tax liability in 2021

Deferred tax liability 12/31/2020 $16.0

($40 future taxable amt. × 40%)

Less Deferred tax liability 12/31/2021 (5.0)

($40/2 equally future taxable amt. × 25%)

Reduction needed to achieve desired balance $11

($16.00-$5.00)

Therefore the total amount by which Superior should change its deferred tax liability in 2021 is by reducing it to $11 million:

difference between real flows and monetary flows​

Answers

Real flows refer to the flow of the actual goods or services, while money flows refer to the payments for the services (wages, for example) or consumption payments.

Bentley Enterprises uses process costing to control costs in the manufacture of Dust Sensors for the mining industry. The following information pertains to operations for November. (CMA Exam adapted) Units Work in process, November 1st 16,300 Started in production during November 100,600 Work in process, November 30th 24,600 The beginning inventory was 60% complete as to materials and 20% complete as to conversion costs. The ending inventory was 90% complete as to materials and 40% complete as to conversion costs. Costs pertaining to November are as follows: Beginning inventory: direct materials, $55,160; direct labor, $20,620; manufacturing overhead, $15,540. Costs incurred during the month: direct materials, $470,970; direct labor, $190,740; manufacturing overhead, $399,080. What are the total costs in the ending Work-in-Process Inventory assuming Bentley uses first-in, first-out (FIFO) process costing

Answers

Answer:

$146,443.80

Explanation:

Step 1 : Equivalent Units of Production

FIFO method is interested with Units worked on during the Production Period. Therefore make sure you begin by finishing Opening Work in Process Units.

1. Materials

To Finish Work in Process Inventory (16,300 x 40%)      6,520

Started and Completed (100,600 - 16,300) x 100 %      84,300

Ending Inventory (24,600 x 90%)                                    22,140

Equivalent units of Production                                        112,960

2. Conversion Cost

To Finish Work in Process Inventory (16,300 x 80%)     13,040

Started and Completed (100,600 - 16,300) x 100 %      84,300

Ending Inventory (24,600 x 40%)                                      9,840

Equivalent units of Production                                        107,180

Step 2 : Cost per equivalent unit

FIFO method is only interested in Costs incurred during the Production Period, therefore Cost in Beginning Inventory must be ignored as these were accounted for in previous year.

Cost per equivalent unit = Total Cost ÷ Total Equivalent Units

Materials = $470,970 ÷ 112,960 = $4.17

Conversion Costs = ($190,740 + $399,080) ÷ 107,180 = $5.50

Step 3 :  Cost in the ending Work-in-Process Inventory

Work-in-Process Inventory = Material Cost + Conversion Cost

                                             = 22,140 x $4.17 + 9,840 x $5.50

                                             = $146,443.80

Conclusion :

The total costs in the ending Work-in-Process Inventory assuming Bentley uses first-in, first-out (FIFO) process costing is $146,443.80

Mike and Marianne pulled their resources together to open a coffee place. They each put $20,000 and also took a bank loan of $20,000. Interest rate the bank charges is 8% and estimated tax rate is 30% for their business. If they both want a 12% return on their investment, what is the weighted average cost of capital

Answers

Answer:

WACC= 9.8%

Explanation:

The weighted Average cost of Capital is the average cost of capital for the different sources of long-term capital available to a firm weighted according to the proportion each source of finance bears to the total capital in the pool.

After-tax cost of debt = (1- tax rate) × before tax cost of debt  

= (1-0.3)× 8% = 5.6%

Total Equity = 20,000× 2= 40,000.

Bank loan = 20,000

Total value fund = 40,000 + 20,000 = 60,000

WACC= 5.5%× (2/6)  + 12%× (4/6) = 9.8%

WACC= 9.8%

     

Answer each questions.

1. Do internet search enhance our knowledge in animal/fish raising?

2. Search in the internet a picture that demonstrates a skill in harvesting/capturing animal/fish?. Paste the picture below.​

Answers

Answer:

1.  Yes.

2.  The answer is in the attached picture

Explanation:

Yes, it is TRUE that internet searches enhance our knowledge in animal/fish raising. Due to the latest technology in gathering information through the web searches such as góóglé, people can easily find knowledge about the cultivating and harvest of animal or fish farming.

This is proven by easily getting a picture that depicts the skills in harvesting a fish in a pond or river

Perfect Patties, Inc. has several divisions. One division provides birthday parties at their facility. Each party sold provides entertainment, decorations, food, and party favors for 10 children. The bookkeeper has prepared a report comparing actual results for the month of June to budgeted results.
Perfect Parties
Birthday Party Division Analysis of Revenues and Costs
For the Month Ended June 30
Planning Budge Actual Results Variances
Number of parties 80 92
Revenue $36,000 $39,560 $3,560 F
Expenses:
Food costs 7,200 8,648 1,448 U
Party supplies 3,200 3404 204 U
Party worker wages 6,400 7,728 1,328 U
Administrative salaries 3,700 3,500 200 F
Equipment depreciation 1,200 1,200 - None
Rent 5,000 5,000 - None
Total expense 26,700 29,480 2,780 U
Net operating income $9,300 10,080 $780 F
Food costs, party supplies, and party worker wages are variable costs.
Administrative salaries, equipment depreciation and rent are fixed costs.
Prepare a new report for June using the flexible budget approach.

Answers

Answer:

Perfect Parties, Inc.

Birthday Party Division

Analysis of Revenues and Costs

For the month ended June 30

                                       Flexible Budget   Actual Results   Variances

Number of parties                      80                     92

Revenue                               $41,400             $39,560        $1,840 U

Expenses:

Food costs                               8,280                 8,648             368 U

Party supplies                          3,680                 3,404             276 F

Party worker wages                7,360                 7,728             368 U

Administrative salaries            3,700                3,500             200 F

Equipment depreciation          1,200                 1,200               -     None

Rent                                         5,000                5,000               -     None

Total expense                       29,220              29,480             260 U

Net operating income          $12,180             $10,080         $2,100 U

Explanation:

a) Data and Calculations:

Birthday Party Division Analysis of Revenues and Costs

For the Month Ended June 30

                                     Planning Budget   Actual Results   Variances

Number of parties                      80                     92

Revenue                               $36,000            $39,560        $3,560 F

Expenses:

Food costs                                7,200                 8,648           1,448 U

Party supplies                           3,200                  3404            204 U

Party worker wages                 6,400                 7,728          1,328 U

Administrative salaries             3,700                3,500            200 F

Equipment depreciation           1,200                 1,200            -      None

Rent                                          5,000                5,000            -       None

Total expense                        26,700              29,480          2,780 U

Net operating income           $9,300               10,080           $780 F

Flexing the variable revenue and costs:

Revenue                               $36,000/80 * 92 = $41,400

Food costs                                7,200/80 * 92 = $8,280

Party supplies                           3,200/80 * 92 = $3,680

Party worker wages                 6,400/80 * 92 = $7,360

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