Answer:
c. unemployment of resources is shown by shifting the PPF inwards
Explanation:
The production possibilities frontiers (PPF) would be moved from one point to another that represents the trade off between the two goods. In case of the expansion in an economy the PPF would be shift outwards and when there is a loss than the same is to be shifted inward
And, the movement of the shift could be based on the economy condition
Therefore in the given case, the option C should be selected
Juniper Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30. On August 11, it returned $1,500 worth of merchandise. On August 16, it paid the full amount due. The correct journal entry to record the payment on August 16 is:_________
a) Debit Merchandise Inventory $8,250; credit Cash $8,250.
b) Debit Accounts Payable $8,250; credit Merchandise Inventory $82.50; credit Cash $8,167.50.
c) Debit Accounts Payable $9,750; credit Merchandise Inventory $97.50; credit Cash $9,652.50.
d) Debit Accounts Payable $8,167.50; credit Cash $8,167.50.
Answer:
b) Debit Accounts Payable $8,250; credit Merchandise Inventory $82.50; credit Cash $8,167.50
Explanation:
Preparation of correct journal entry to record the payment on August 16
Based on the information given we were told that the company made a purchased of the amount of $9,750 of merchandise with terms of 1/10 and as well made returned of the amount of $1,500 worth of the merchandise while the full amount due was paid on August 16 which means that the journal entry to record the payment on August 16 will be :
Debit Accounts Payable $8,250
($9,500-$1,500)
Credit Merchandise Inventory $82.50
(1%×$8,250)
Credit Cash $8,167.50
[(100%-1%)×$8,250)]
M2-28. Computing and Comparing Income and Cash Flow MeasuresPenno Corporation recorded service revenues of $200,000 in 2020, of which $170,000 were on credit and $30,000 were for cash. Moreover, of the $170,000 credit sales for 2020, Penno collected $20,000 cash on those receivables before year‑end 2020. The company also paid $25,000 cash for 2020 wages. Its employees also earned another $15,000 in wages for 2020, which were not yet paid at year‑end 2020. (a) Compute the company’s net income for 2020; and (b) how much net cash inflow or outflow did the company generate in 2020? Explain why Penno’s net income and net cash flow differ.
Answer:
Explanation:
M2-28. Computing and Comparing Income and Cash Flow MeasuresPenno Corporation recorded service revenues of $200,000 in 2020, of which $170,000 were on credit and $30,000 were for cash. Moreover, of the $170,000 credit sales for 2020, Penno collected $20,000 cash on those receivables before year‑end 2020. The company also paid $25,000 cash for 2020 wages. Its employees also earned another $15,000 in wages for 2020, which were not yet paid at year‑end 2020. (a) Compute the company’s net income for 2020; and (b) how much net cash inflow or outflow did the company generate in 2020? Explain why Penno’s net income and net cash flow differ.
Frank is worried about identity theft. He does not like to give access to his checking account to anyone but the bank.
What is the best option for him to pay his bills?
O Frank should telephone in his payment to the company.
Frank should pay his bill online.
Frank should set up automatic withdrawals for the company he is paying.
O Frank should mail a check to the company.
Answer:
Frank should mail a check to the company.
Explanation:
Got it right on Edge!
Frank should mail a check to the company.
What is a mail?A system for physically delivering postcards, letters, and packages is known as the mail or post. The term "mail" in American English often refers to the government service that collects and delivers letters and packages. Anything that is sent to your mail box or post office box is considered mail, including letters, bills, packages, periodicals, and other items sent by the postal service. The equivalent of mail on the internet is email.
In addition to conveying mail, postal authorities frequently perform other duties. In some nations, a postal, telegraph, and telephone (PTT) service also manages the telephone and telegraph networks in addition to the postal system.
What is a company?A group of people can get together to form a company, which is a legal body used to conduct and manage commercial or industrial business operations. Either public or private companies can exist; the former distributes equity to shareholders on a stock exchange, whereas the latter is privately held and unregulated. Companies have a significant role in the health of an economy by providing jobs and luring in disposable income to fuel expansion. The business lines of an organization rely on its structure, which can be a company, a partnership, or even a sole proprietorship. A company can engage into contracts, sue (or be sued), borrow money, pay taxes, own property, and employ people, among other legal rights and obligations, just like an individual can.
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Lupo Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 32,600 Total fixed manufacturing overhead cost $ 195,600 Variable manufacturing overhead per machine-hour $ 4.00 Recently, Job T687 was completed with the following characteristics: Number of units in the job 10 Total machine-hours 30 Direct materials $ 550 Direct labor cost $ 1,100 The total job cost for Job T687 is closest to:
Answer:
Total cost= $1,900
Explanation:
Giving the following information:
Total machine-hours 32,600
Total fixed manufacturing overhead cost $ 195,600
Variable manufacturing overhead per machine-hour $ 4.00
Job T687:
Total machine-hours 30
Direct materials $ 550
Direct labor cost $ 1,100
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (195,600/32,600) + 4
Predetermined manufacturing overhead rate= $10 per machine hour
Now, we can determine the total cost:
Total cost= direct material + direct labor + allocated overhead
Total cost= 500 + 1,100 + 10*30
Total cost= $1,900
Rio Coffee Shoppe sells two coffee drinks—a regular coffee and a latte. The two drinks have the following prices and cost characteristics: Regular Coffee Latte Sales price (per cup) $ 1.50 $ 2.80 Variable costs (per cup) 0.80 1.70 The monthly fixed costs at Rio are $5,148. Based on experience, the manager at Rio knows that the store sells 80 percent regular coffee and 20 percent lattes. Required: How many cups of regular coffee and lattes must Rio sell every month to break even?
Answer:
Breakeven quantity for regular coffee = 5,883
Breakeven quantity for lattes = 936
Explanation:
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / price – variable cost per unit
fixed cost for lattes = 0.2 x $5,148. = $1,029.60
fixed cost for regular coffee = 0.8 x $5,148. = $4,118.40
Breakeven quantity for regular coffee = $4,118.40 / $ 1.50 - $0.8 = 5,883.4
Breakeven quantity for lattes = $1,029.60 / $ 2.80 - $ 1.70 = 936
Answer:
Rio Coffee Shoppe
Break-even point in units:
Break-even point for firm = Fixed costs/Contribution per unit
= $5,148/$1.80 = 2,860 units
Regular Coffee = 80% of 2,860 = 2,288 units
Lattes = 20% of 2,280 = 572 units
Explanation:
a) Data and Calculations:
Regular Coffee Latte
Sales price (per cup) $ 1.50 $ 2.80
Variable costs (per cup) 0.80 1.70
Contribution $0.70 $1.10
Fixed cost $5,148
Break-even point = Fixed costs/Contribution per unit
Regular Coffee = 80% of $5,148 = $4,118.40
Break-even point = $4,118.4/$0.70 = 5,884 units
Lattes = 20% of $5,148 = $1,029.60
Break-even point = $1,029.60/$1.10 = 936 units
b) The break-even point is the unit of sales required to cover the fixed costs with the contribution so that Rio Coffee Shoppe makes no profit or loss.
Resources are limited in
_________?
Answer:
A basic condition of nature which means that the quantities of available labor, capital, land and entrepreneurship used for the production of goods and services are finite. It means that the economy has only so many resources that can be used AT ANY GIVEN TIME time to produce goods and services.
Explanation:
Milo has the following year-end account balances: Accounts Receivable, $5,000; Supplies, $12,000; Equipment, $18,000; Accounts Payable, $17,000; Owner’s Equity, $43,000. The Cash account balance was not available at year-end. Given the account balances listed, the balance in the Cash account should be
Answer:
$25,000
Explanation:
Calculation for what the balance in the Cash account should be
First step is to calculate for the Total Assets excluding Cash
Total Assets excluding Cash = $5,000 + $12,000 + $18,000
Total Assets excluding Cash = $35,000
Second step is to find the Total Liabilities & shareholder's equity
Total Liabilities & shareholder's equity = $17,000 + $43,000
Total Liabilities & shareholder's equity == $60,000
Last step is to calculate for the cash balance using this formula
Cash balance = Total Liabilities and shareholder's equity - Total Assets (excluding cash)
Cash balance = $60,000 - $35,000
Cash balance = $25,000
Therefore the balance in the Cash account should be $25,000
What is meant by Sandel's use of the phrase "a common currency"?
A. Sandel meant that utilitarianism only thinks of moral values in terms of monetary currency
B. Sandel meant that utilitarianism tells us that we should never eat each other, no matter how hungry we are
C. Sandel meant that utilitarianism aims to level all values to equal standing so that they can be quantified and measured
D. Sandel meant that utilitarianism relies on a theory of human nature as composed of base and higher capacities
Answer:
C. Sandel meant that utilitarianism aims to level all values to equal standing so that they can be quantified and measured
Explanation:
The common currency is the currency that are shared by the different countries
Utilitarianism refers to a theory in which the goods things are to be rise and the bad things would be decline also it shows the outcome of an action that generated right and wrong concept
Therefore it provides a measure that should be common depend upon the values
Hence, the option c is correct
is your place of work a business or a non profit organization ?
Answer:
my place of work is a business
If a family spends its entire budget in a given time frame, the family can afford either 90 cans of soup or 60 frozen dinners. Assuming the family spends its entire budget on just these two goods, what is the opportunity cost of one extra can of soup in the time frame?\
Answer:
60 frozen dinners is better
Explanation:
Suppose you make the decision to volunteer for an event in school for an hour this week. This means that you would have to take an hour off from your summer job, for which you earn $10 per hour. You spend $3 in bus fare in order to get to school and $5 for lunch. If you went to work, you would have been able to walk to your job, and lunch would have been provided to you by the office. The opportunity cost of volunteering is:
Answer:
$10 what you would have earned at the job
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
When you decide to volunteer, you would not be able to go to work. The opportunity cost of volunteering is what you would have earned if you were at work
Selected current year company information follows: Net income $ 15,953 Net sales 712,855 Total liabilities, beginning-year 83,932 Total liabilities, end-of-year 103,201 Total stockholders' equity, beginning-year 198,935 Total stockholders' equity, end-of-year 121,851 The return on total assets is:
Answer:
Return on total assets =7.09%Explanation:
Return on total asset is the proportion of the total amount invested in assets that is earned as net income. It is a measure of the efficiency of the use of assets to generate profit.
It is calculated as follows:
Return on total assets = Net Profit/Total assets× 100
Note that Total assets = Total liabilities + stockholder's equity
Data:
Total assets = 103,201 + 121,851 = 225,052
Net income = 15,953
Return on total assets = 15,953/225,052 × 100= 7.09%
Return on total assets =7.09%
Major Manuscripts, Inc., is currently operating at 70 percent of capacity. All costs and net working capital vary directly with sales. The tax rate, the profit margin, and the dividend payout ratio will remain constant. How much additional debt is required if no new equity is raised and sales are projected to increase by 10 percent
The attached data is required to answer the question
Answer:
$535
Explanation:
In this scenario we need to calculate the additional debt required by Major Manuscript
We expect an increase of 10% of sales
Therefore
Total assets projected = 9,420 * 1.10 = $10,362
Accounts payable projected = 2,200 * 1.10 = $2,420
Current long term debt = $260
Current common stock = $2,400
Retained earnings projected = 4,560 +{(360 - 190) * 1.10} = $4,747
Additional debt required = 10,362 - 2,420 - 260 - 2,400 - 4,747
Additional debt required = $535
At what input output level will average variable cost begin to rise?
Answer:
When the additional cost (input) of producing one more unit (output) is greater than the additional revenue earned on it results in increase in the average variable cost.
Explanation:
Average Variable cost is calculated by dividing the total variable cost by output. The graph of which, when prepared, is shaped in U curve. This is because when we produce one unit (output) then the additional cost (input) incurred is lower than the additional revenue earned.
However, as we proceed further in producing more units at one point in time we reach from fall in average variable cost to constant level and then the average variable cost starts to rise. This rise in average variable cost is known as the law of diminishing marginal returns. Which states that at one certain point Average Variable cost will start to rise. The production in one more unit will result in the additional cost to be more than the additional revenue generated from it.
Pineapple International uses a job order costing system. Pineapple's accounting manager estimated that direct labor would be $2,990,000 (230,000 hours at $13/hour) and that factory overhead would be $1,530,000 for the current period. At the end of the period, 210,000 hours of direct labor and $1,230,000 of actual overhead costs were recorded. Determine the predetermined overhead rate using direct labor hours as a base. (Round your answer to two decimal places.) g
Answer:
$6.65 per hour
Explanation:
We can determine the predetermined overhead rate by
Estimated factory overhead cost / Estimated number of direct labor hours.
Estimated factory overhead cost = $1,530,000
Estimated number of direct labor hours = 230,000 hours
= $1,530,000 / 230,000
= $6.65 per hour
Predetermined overhead rate is $6.65 per hour
Aldricus is a shutterbug. He takes his camera everywhere he goes. He has hung hundreds of pictures on his walls. For Aldricus, photography is a _____.
hobby
career
bore
job
Answer:
hobby
Explanation:
just took the test
Explain how the economic systems of countries differ?
Explanation:
Economic systems can be defined as a system with characteristics and principles for regulating all components of an economy, such as labor, production, resources, etc.
It is different according to each country, in that each country operates through different laws and rules for controlling the economy. There are countries that operate through a more rigid economic system, where there is government control over production and market prices, and there are countries that operate in a freer economic system, where the government does not interfere so much in private property, in profitability and in price, and organizations operate according to the law of supply and demand, such as the capitalist system, for example, which is a system that is very widespread in the globalized world, where the primary objective is the accumulation of profits.
A company purchased factory equipment for $350,000 at the beginning of the year. It is estimated that the equipment will have a $35,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be Group of answer choices $140,000. $84,000. $126,000. $60,480.
Answer: b- $84,000
Explanation:
Using the Double Decline balance method:
Annual Depreciation Rate = 1/useful Life x 2 = 1/5x2 = 0.4 = 40%
Depreciation for First year
$350,000 X 0.4 = $140,000
Book value after year 1: $350,000 - $140,000 = $210,000
Depreciation for Second year
$210,000 X 0.4 = $84,000
Managing risks refers to identifying any possible
process for
and evaluating risks.
events and taking steps to reduce them. Risk management is a continuous
Reset
Next
Answer:
Uncertain is the first blank and identifying is the second blank
Explanation:
I searched it on a business management website and it worked for Plato
Identical products, as well as a large number of buyers and sellers, are characteristics of aperfectly competitive market. In such markets, sellers of goodscan influence the prevailing market price, giving them the role of pricemakers in the market. True or False: The market for public utilities, such as gas and electricity, exhibits the two primary characteristics that define perfectly competitive markets.
Answer and Explanation:
Perfect competition is a competitive market where there is a very wide number of buyers and sellers who offer the same or similar goods with great product and service information. Furthermore, this sector has free entry and exit
So it is a perfectly competitive market, also it cannot influence the market price also there are price takers
Also the given statement is false as it represents the monopoly market not the perfect competition market
What type of product modification is likely to make the greatest impact on a food product?
A) Quantity
B) Aesthetic
C) Functional
D) Versatility
E) Texture.
Answer: Aesthetic
Explanation:
The type of product modification that is likely to make the greatest impact on a food product is aesthetic.
Product Modification simply means the improvement of an existing products in such a way that necessary changes are made to the product's nature, size, color, characteristics, nature, packing etc. in order to meet consumers demand. Aesthetic in food products will help the product stand out and beautify it.
TSW Inc. had the following data for last year. Net income = $800; Net operating profit after taxes (NOPAT) = $700; Total assets = $3,000; and Total operating capital = $2,000. Information for the just-completed year is as follows: Net income = $1,000; Net operating profit after taxes (NOPAT) = $925; Total assets = $2,600; and Total operating capital = $2,500. How much free cash flow did the firm generate during the just-completed year?
Elena Inc. has the following income statement. How much net operating profit after taxes (NOPAT) does the firm have?
Sales $2000
Cost 1200
Depreciation 100
EBIT 700
Interest expense 200
EBT 500
Taxes(35%) 175
Net income 325
Answer:
1. Free cash flow= NOPAT - Net investment in total operating capital
Free cash flow = $925 - ($2,500 - $2,000)
Free cash flow = $925 - $500
Free cash flow = $425.
2. Particulars Amount
Earnings before Interest and Tax $700
Less : Taxes at 35% $245
Net operating income after tax (NOPAT) $455
Therefore, The Net operating profit after Tax (NOPAT) is $455.
The principal differences between capital markets and money markets are that:__________.
A. money and capital markets deal in the same securities, the only difference is term.
B. capital markets deal in long-term debt and equity securities, while money markets deal only in short-term debt.
C. money markets deal only in short-term government debt.
D. both markets deal in short-term debt securities; however, capital markets deal also in equity securities which have an indefinite term.
Answer:
B. capital markets deal in long-term debt and equity securities, while money markets deal only in short-term debt.
Explanation:
Most Company uses money market to raise short term funds and capital markets for long term funds. Money market is a market for short term borrowings. Usually the securities are held for less than or up to a year. And capital market on the contrary is where securities are held for a long term i.e more than a year. Money market is concerned with liquid fund requirement and capital market is for long term capital fund requirement.
Loggers are much likely to supply wood to the market if property rights are not enforced. In the presence of market failures, public policy can improve economic efficiency. Classify the source of market failure in each case listed. Market Failure Market Power Externality A manufacturing plant dumps chemical waste into a nearby river, poisoning the water supply for a small town downstream. A single public utilities company is responsible for supplying electricity for an entire state. As a result, the utilities company can set the price of electricity.
Answer:
Over
Externality
Market power
Explanation:
Externality is a form of market failure where the activities of economic agents affect third parties not involved in production or consumption
Externality can be positive or negative
A good has negative externality if the costs to third parties not involved in production is greater than the benefits.
The costs of polluting the river by the firm is greater than the benefits. Thus, this causes negative externality
Taxation increases the cost of production and therefore discourages overproduction. Tax levied on externality is known as Pigouvian tax.
A firm has Market power when it can increase prices above the level that would exist that in a competitive market.
Firms that have market power are usually monopolies
A monopoly is when there is only one firm that exists in an industry
If a company is considering the purchase of a parcel of land that was acquired by the seller for $101,000 is offered for sale at $182,000, is assessed for tax purposes at $111,000, is considered by the purchaser as easily being worth $172,000, and is purchased for $169,000, the land should be recorded in the purchaser's books at:
Answer:
$169,000
Explanation:
Based on the information given we were been told that in a situation were a land which was acquired by the seller for the amount of $100,000 was been purchased at the amount of $169,000 which simply means that the land should be recorded in the purchaser's books at the amount of $169,000 which is the costs or amount in which the land was PURCHASED by the company.
Use the supply and demand schedules below to answer the following questions: Price Quantity Demanded Quantity Supplied $10 100 20 15 80 40 20 60 60 25 40 80 30 20 100 Instructions: Enter your answers as a whole number. a. What is the equilibrium price and quantity? Market equilibrium price: $ Market equilibrium quantity: units b. What is the market price if there is a shortage of 40 units? $
Answer:
$20
60
$15
Explanation:
equilibrium is the point where quantity supplied equals quantity demanded.
Equilibrium price is the price at which quantity supplied equals quantity demanded. = $20
equilibrium quantity is the quantity at which quantity supplied equals quantity demanded. = $60
There is a shortage at the point where quantity demanded exceeds quantity supplied. shortage occurs below equilibrium. At $15, quantity demanded exceeds quantity supplied by 40 units
Several years ago,Doran Corp.issued 100,000 of its $2 par value stock for a total of $800,000.This is the only time that it has sold stock.This year it purchased 1,000 shares of its own stock for $10 a share.As a result of acquiring treasury stock:
A) its stockholders' equity decreases by $10,000.
B) it will recognize a loss of $2,000.
C) its common stock account decreases by $10,000.
D) its retained earnings decrease by $10,00
Answer:A) its stockholders' equity decreases by $10,000.
Explanation:
Account Debit Credit
Treasury stock $10,000
Cash $10,000
Calculation:
Stock = Shares x Price per share =1000 x $10 = $10,000
Therefore, the stockholders equity will decrease by $10000.
Hence the correct option is A.
Which situation best illustrates the role of households in the circular flow of
goods?
A. A website sells T-shirts promoting a popular band.
o
B. A factory produces parts used to make new cars.
C. A family buys a new TV at an electronics store.
D. A company develops a new brand of smartphone,
w
SUBMIT
The situation that illustrates the role of households in the circular flow of goods is "A family buys a new TV at an electronics store."
What is a circular flow of goods?The circular flow illustrates the flow of money from producers to households and back again in an endless loop. The participants of the circular flow are households, producers, governments, and sometimes foreign countries.
The household contributes resources and money to the flow as consumers of the goods or services. The producers or manufacturers provide goods and income to the household.
The household's role in the circular flow of goods therefore can be inferred as that of a consumer and hence the statement "A family buys a new TV at an electronics store" best illustrates their role.
Therefore the correct option is C.
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Beat Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 40,000 Total fixed manufacturing overhead cost $344,000 Variable manufacturing overhead per machine-hour $ 3.90 Recently, Job M759 was completed. It required 60 machine-hours. The amount of overhead applied to Job M759 is closest to: (Round your intermediate calculations to 2 decimal places.)
Answer:
The amount of overhead applied to Job M759 is closest to: $516
Explanation:
Applied overheads = Predetermined overhead rate × Actual Activity
Where,
Predetermined overhead rate = Budgeted Fixed Overheads ÷ Budgeted Activity
therefore,
Predetermined overhead rate = $344,000 ÷ 40,000 machine hours
= $8.60 per machine hour
Applied overheads (Job M759) = $8.60 × 60 machine-hours
= $516
How does a company's use of social media reflect audience-centered communication?
Answer:
There is an explanation of why the social media is so important today in the terms of communication regarding the marketing strategy in the companies below.
Explanation:
To begin with, nowadays the with the use of internet and more importantly the social media the companies have to adapt their strategy of communication according to the marketing theory in order to reach to the target audience who are the ones that will provide them with all of their primary profits when they sell. So that is why that social media has become one of the base aspects in which the company has to develop itself and try to to get better at it so that they could approach the consumers with that media of communication that is truly quite effective with the young consumers in the present time. Therefore that the social media reflects the most of the proper communication with the younger consumers nowadays, because it is a fundamental use of every day life for them.
Social media is important to industries to communicate wide to their target audience through advertisement.
Social media is an online platform that facilitates the exchange of information in terms of creation and sharing.
Social media is important to industries to communicate wide to their target audience through advertisement.
This advertisement serves as a form of marketing strategy for companies to engrave their product in the heart of the consumers.
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