Answer:
A is the answer
Explanation:
The accounting records for Social Event Planning Services include the following select unadjusted balances on December 31, 2018: Salaries Expense, $6,000; Service Revenue: $18,000; Unearned Revenue, $400; Supplies Expense, $600; Rent Expense, $300; Depreciation ExpensedashEquipment, $200.During December, the company worked with a new client and provided event planning services for an upcoming event. It will receive the full amount of $1,500 when the event is completed in January 2019. As of the end of December 2018, it performed one-third of the services covered by the contract. The company made the accrual adjustments. The balance of Service Revenue, as shown on the adjusted trial balance, should be a ________.
A. debit balance of $1,500
B. credit balance of $19,500
C. credit balance of $19,000
D. debit balance of $20,500
Answer:
$18,500
Explanation:
The computation of the balance of Service Revenue shown on the adjusted trial balance is shown below:
= Service revenue ending balance + accrued value
where,
Accrued value = $1,500 ÷ 3 = $500
And, the service revenue ending balance is $18,000
So, the Service revenue balance equal to
= $18,000 + $500
= $18,500
This is the answer but the same is not given in the options mentioned in the question.
The adjusted 'Service Revenue' for December, after accounting for the partial services provided for an upcoming event and recognizing the 'Unearned Revenue', should be a credit balance of $18,900. However, among the options provided, the closest correct answer is a credit balance of $19,000 (Option C).
Explanation:The 'Service Revenue' of Social Event Planning Services consists of the revenue generated from rendering their services, which at the beginning stood at $18,000. However, in December 2018, they provided one-third of their services to a new client for an upcoming event, which they expect to receive $1,500 for, once the event is completed in January 2019.
Since they provided one-third of these services in December, a third of the expected payment, $1,500, could be recognized as revenue for the month of December, despite receiving that payment in January. So this translates to $1,500 / 3 = $500 earned in December.
Adding this $500 to the initial 'Service Revenue' of $18,000, we have $18,500. Now, considering there was an 'Unearned Revenue' of $400, which must now be recognized as part of the revenue (since services have been rendered for it), the total 'Service Revenue', as shown on the adjusted trial balance, should be a credit balance of $18,500 + $400 = $18,900. However, from the options available the closest correct answer is credit balance of $19,000 (Option C).
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Based on these findings, what can we predict about total production long dash whether or not that production is included in the calculation of GDP long dash in the economy when these workers became unemployed?
Answer:
If the workers had been paying other people to perform the household activities prior to unemployment, then total production will fall.
Explanation:
What are the two characteristics of public goods? Explain the significance of each for public provision as opposed to private provision. What is the free-rider problem as it relates to public goods? Is U.S. border patrol a public good or a private good? Why? How about satellite TV?
Pubic goods are:
produced by the government for the welfare of the people with no costPublic goods are for the welfare of people, produced by the government as it's the government's responsibility to care for it's people.
Pubic goods are at no cost in order for it to be accessible to everyone, without a financial barrier or limit.
The free-rider problem is a market failure where pubic goods are being accessed and benefitted from but it's not being paid for by the benefiting group.
U.S border control is public goods as we, the general public, do not pay for it and it's aim is our protection, it is for our wellbeing.
Satellite TV is private goods as it's manufactured by a business or entrepreneur, and is sold for their profit.
Public goods are characterized by non-excludability and non-rivalry, leading to challenges in private provision and the free-rider problem. U.S. border patrol is a public good, while satellite TV is a private good.
Explanation:The two main characteristics of public goods are non-excludability and non-rivalry. Non-excludability means that once the good is provided, no one can be prevented from consuming it. This is significant because it makes it hard for private firms to charge for the good, leading us typically to public provision. Non-rivalry means that one person's consumption of the good does not limit another person's consumption. This means that there is no benefit to restricting access, again leading us to public provision.
The free-rider problem occurs because people can consume public goods without paying for them, benefiting without contributing to their production. This leads to under-provision of the good, as private firms have less incentive to produce it.
U.S. border patrol is a public good because it is both non-excludable and non-rivalrous. Everyone in the country benefits from it whether or not they paid for it. Satellite TV, on the other hand, is a private good because access to the broadcasts is restricted to those who pay for it.
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Identify the phase in the new product development process during which the item first acquires finite form. The concept generation phase The development phase The launch phase The concept or project evaluation phase
Answer: The correct answer is the TECHNICAL DEVELOPMENT PHASE
Explanation: The new product process refers to the next product in a company's product line. It is a product that adopts or replacea an existing product. This process goes through different stages.
The technical development phase is however the phase during which the item acquires finite form - a tangible good or a specific sequence of resources and activities that will perform an intangible service.
Craig is a salesperson for an industrial equipment company. Craig calls on factories and spends most of his time talking with equipment operators who work on the factory floor. While Craig is able to get the equipment operators interested in his products, he is often unable to make a sale. Craig needs to work on:________.
A. Determining other purchase decision influencers.
B. Improving his products.
C. Improving his attitude.
D. His cold canvassing ability.
E. His record keeping.
Answer:
The correct answer is letter "A": Determining other purchase decision influencers.
Explanation:
Sales are variable and require salespeople to adapt their speeches to their potential costumers. It is important to know in-deep the features of the product or service offered but that is not enough. Most sales are processed because of good closing strategies. There is when the sellers create a need for the product and convince consumers they must acquire whatever the salesperson is offering.
Thus, Craig should focus on other aspects of his sales strategy rather than only the technical features.
T. Bina and M. Valley are partners with equal capital balances of $50,000 each. They agree to let R. Smith invest $20,000 in their partnership for a 25% interest, which means that Smith's beginning capital balance will equal $30,000, with each existing partner granting a $5,000 bonus to Smith. The journal entry to reflect Smith's new capital balance will include a____(debit/credit) to Smith, Capital in the amount of $________.
Answer:
The journal entry to reflect Smith's new capital balance will include a credit to Smith, Capital in the amount of $30,000.
Explanation:
Step 1: Determine Smith's capital balance
Smith's new capital balance can be expressed as shown;
C=I+B1+B2
where;
C=new capital balance
I=Smith's capital investment
B1=T. Bina bonus amount
B2=M. Valley bonus amount
In our case;
C=unknown, to be determined
I=$20,000
B1=$5,000
B2=$5,000
Replacing;
C=(20,000+5,000+5,000)=$30,000
New capital balance=$30,000
Step 2: Record Smith's New Capital balance
Account Debit Credit
Cash 30,000
Smith 30,000
A credit to Smith, Capital in the amount of $30,000
Shawn works for Vance Steel Corporation. Shawn's duties include managing the overall processes for the company and transforming the steel resources into goods. Which department would Shawn most likely work in?
A. CIO.
B. Marketing.
C. Accounting.
D. Operations management.
Answer:
D. Operation management department / Operations department
Explanation:
The operations department is the department responsible for overseeing the production process of the department.
The operations department in a firm overlooks the production process. They must:
• Use the resources in a cost-effective and efficient manner
• Manage inventory effectively
• Produce the required output to meet customer demands
• Meet the quality standards expected by customers
Therefore Shawn's function of managing the overall processes for the company and transforming steel resources into goods shows that he most likely work in the operation department and serves as the operations manager
The following information pertains to Paramus Metal Works for the year just ended:
Budgeted direct-labor cost:
70,000 hours (practical capacity) at $16 per hour
Actual direct-labor cost:
80,000 hours at $17.50 per hour
Budgeted manufacturing overhead: $997,500
Budgeted selling and administrative expenses: $438,000
Actual manufacturing overhead:
Depreciation $234,000
Property taxes 22,000
Indirect labor 81,000
Supervisory salaries 202,000
Utilities 58,000
Insurance 33,000
Rental of space 302,000
Indirect material (see data below) 79,000
Indirect material:
Beginning inventory, January 147,000
Purchases during the year 95,000
Ending inventory, December 31 63,000
Required:
1. Compute the firm's predetermined overhead rate which is based on direct-labor hours.
(Round answer to 2 decimal places)
2. Calculate the over-applied or under-applied overhead for the year.
3. Prepare a journal entry to close out the Manufacturing Overhead account into Cost of Goods Sold.
Answer:
1. Predetermined overhead rate=(997,500/70,000)=$14.25 per hour
2. Over-applied=$129,000
3. The journal entry will include a debit of $129,000 to the manufacturing overhead account and a credit to the cost of goods sold of the same amount.
Explanation:
1.
Step 1: Determine firm's predetermined overhead rate.
The firm's predetermined overhead rate can be expressed as;
P=BMO/BDL
where;
P=predetermined overhead rate
BMO=Budgeted manufacturing over head
BDL=Budgeted direct labor cost
This can also be written as;
Predetermined overhead rate=(Budgeted manufacturing over head/Budgeted direct labor cost)
In our case;
Predetermined overhead rate=unknown, to be determined
Budgeted manufacturing over head=$997,500
Budgeted direct labor cost=70,000 hours
Substituting;
Predetermined overhead rate=(997,500/70,000)=$14.25 per hour
2.
Step 2: Determine the over-applied or under-applied overhead for the year
The over-applied or under-applied overhead can be expressed as shown below;
O/U=AO-AM
where;
O/U=over-applied or under-applied overhead
AO=applied overhead
AM=actual manufacturing overhead
This can also be written as;
Over-applied or under-applied overhead=Applied overhead-actual manufacturing overhead
In our case;
Over-applied or under-applied overhead=unknown, to be determined
Applied overhead=Predetermined overhead rate×Actual direct-labor cost
and;
Predetermined overhead rate=$14.25 per hour
Actual direct-labor cost=80,000 hours
Applied overhead=(14.25×80,000)=$1,140,000
Actual manufacturing overhead=All manufacturing overhead except indirect materials+indirect materials
and;
All actual manufacturing overhead except indirect materials=$932,000
Indirect materials=(47,000+95,000-63,000)=$79,000
Actual manufacturing overhead=(932,000+79,000)=$1,011,000
Substituting in the original expression;
Over-applied or under-applied overhead=(1,140,000-1,011,000)=$129,000
Over-applied=$129,000
3.
Step 3: Close out the Manufacturing Overhead account into Cost of Goods Sold.
At the end of the year, the balance in the manufacturing overhead account which can either be overapplied or underapplied is disposed of by transferring the amount to the cost of goods sold. This can be journalized as follows;
Since the overhead is over-applied;
Account Name Debit Credit
Manufacturing overhead $129,000
Cost of goods sold $129,000
The journal entry will include a debit of $129,000 to the manufacturing overhead account and a credit to the cost of goods sold of the same amount.
To compute the predetermined overhead rate, divide the budgeted manufacturing overhead by the budgeted direct-labor hours. To calculate the over-applied or under-applied overhead, subtract the actual manufacturing overhead from the applied manufacturing overhead. To close out the Manufacturing Overhead account into Cost of Goods Sold, debit the Cost of Goods Sold account and credit the Manufacturing Overhead account.
Explanation:1. To compute the firm's predetermined overhead rate based on direct-labor hours, divide the budgeted manufacturing overhead by the budgeted direct-labor hours:
Predetermined Overhead Rate = Budgeted Manufacturing Overhead / Budgeted Direct-Labor Hours
2. To calculate the over-applied or under-applied overhead for the year, subtract the actual manufacturing overhead from the applied manufacturing overhead:
Over-Applied or Under-Applied Overhead = Applied Manufacturing Overhead - Actual Manufacturing Overhead
3. To prepare a journal entry to close out the Manufacturing Overhead account into Cost of Goods Sold, debit the Cost of Goods Sold account and credit the Manufacturing Overhead account for the amount of the over-applied or under-applied overhead.
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Which of the following types of employees possesses high commitment and low task performance but perform many of the voluntary "extra-role" activities that are needed to make the organization function smoothly?a. Stars b. Apathetics c. Dogs d. Citizens e. Lone wolves
Answer:
d. Citizens
Explanation:
Citizens have always been likely to react with loyalty to negative outcomes as they may not have all the integrity to motivate reform, but really want to be a participant of the company. You can locate citizens by targeting people who show the new employees around the building, collect birthday cakes for the celebration, purchase new supplies when necessary, and so on.
Imagination Museum is holding nominations for its board of directors. It is the first time that over half of the positions are vacant 32 due to either retirements or term expirations. The new CEO wants to be sure that the board is representative of the community, as well as the patrons who attend most of the events. Which of the following considerations are important for a good board? Skipped Multiple Choice 1. racial balance 2. financial balance3. religious/cultural balance 4. educational attainment balance 5. gender balance
Gender balance considerations are important for a good board
Explanation:
Gender equality workforce is reached where people are able to obtain the same advantages, services and incentives irrespective of gender. It aims to achieve generally equality and results for males and females at job.
This helps to sustain the society by sharing ideas and views while acknowledging other ideas for the creation of the group. It also has a positive effect, a sign of neutrality. Eventually, group engagement should be applied in a safe and welcoming atmosphere with all sets of people.
A good board of directors should have a balance in terms of race, finance, religion/culture, education, and gender. This ensures diverse perspectives, equal representation and inclusivity, and helps in understanding and serving the community and patrons better.
Explanation:For the Imagination Museum to ensure that their board of directors is representative of their community and patrons, they should consider all the categories listed in the question. To achieve a racial balance, they should aim to have board members of diverse ethnic backgrounds that represent the demographics of the community. The financial balance implies having board members from different economic backgrounds which would ensure diverse perspectives and better understanding of the stakeholders. A religious/cultural balance is important to appreciate and manage cultural and religious diversity within the community. Educational attainment balance suggests having board members with different levels of education which can bring diverse knowledge and experiences. Lastly, gender balance is imperative in a board setup to ensure equal representation and inclusivity. Therefore, the CEO should aim for balance in all these areas.
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The managers of a popular software firm believe in trusting their subordinates to perform effectively rather than monitoring them closely and imposing rules on them. This company most likely follows _____.
Answer:
Decentralized control
Explanation:
Decentralized control -
It refers to the method adapted by the organisation or company , in which the lower level elements helps completely to attain certain goal or task , is referred to as decentralization control
In this case , the people in the higher post need not rule over the lower one to complete the project or task on time .
The company using this method is happy as the employees are hardworking and there is least number of arguments , and hence becomes successful in shorter run .
Hence , from the question ,
The correct term is decentralization control .
Tanya, a social activist, works closely with a local nonprofit organization (NGO) to spread awareness about the importance of education in rural areas. She is actively involved in planning and organizing programs conducted by the community. Together, they have helped enroll 500 students in public schools and have also been responsible for setting up 15 new schools. Tanya takes a lot of pride in her work and her association with the NGO. In the context of the dimensions of national culture as identified by Robert House in his GLOBE project (Global Leadership and Organizational Behavior Effectiveness), Tanya belongs to a culture that is likely to score:A) low on femininity.
B) high on in-group collectivism.
C) low on humane orientation.
D) high on individualism.
Answer:
The correct answer is B
Explanation:
In group collectivism, it is defined as the degree to which the person or an individuals states the cohesiveness, loyalty and pride in the business or firm. Few of the characteristics of the societies, which have the high in group collectivism are:
1. The life pace is slower.
2. Obligations and the duties are vital determinants of the social behavior.
3. Strong distinction is made among out groups as well as in groups.
Therefore, Tanya, works for NGO, takes a lot of pride in her work. So, she belongs to a culture which is likely to score high on in group collectivism.
The leader of a federal political party made the following campaign promise: "my administration will increase national defense without requiring sacrifices elsewhere in the economy." the promise can be kept if:________
a. the economy moves along the production possibilities in the direction of a greater quantity of defense.
b. the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve.
c. the production possibilities frontier shifts outward due to an improvement in technology.
d. either b) or c) occurs, but not as a result of a).
Answer:
D
Explanation:
Either b) or c) occurs, but not as a result of a).
the promise can be kept if the economy moves from a point inside the production possibilities curve toward a point on the production possibilities curve or if the production possibilities frontier shifts outward due to an improvement in technology and because the economy moves along the production possibilities in the direction of a greater quantity of defense.
A television ad for Corona deodorant shows a college freshman being socially rejected for having body odor. He is teased and rejected by members of the college dance club. A fellow student gives him a Corona deodorant. After using the deodorant, the freshman is accepted in the dance club and becomes popular. In this ad, Corona is using a _____ appeal.
a. non-cognitive.
b. refutational.
c. humor.
d. comparative.
e. fear.
Answer:
In this ad, Corona is using a fear appeal.
Explanation:
Advertisement is the sharing of specific information for the sole purpose of promoting that product to specific audiences. The audience is the potential consumer that the advertisement is meant to convert to loyal customers. The advertisement campaigns are usually tailored to appeal to these audiences to increase the sales. An increase in sales usually reflects on increased profit margin levels. There are various appeal methods that can be used;
Fear appeal
The fear appeal theory tries to put the consequences of not buying the product to light with the intention of pushing the potential customer to buy the product to avoid the consequences. In our case, the Corona deodorant advertisement uses the fear appeal of social rejection to push consumers to buy their product in order to evade the consequence of being rejected. By using a college freshman who is socially rejected by members of the college dance club since they don't use the deodorant, they exploit the fear of social rejection in a college freshmen. Thus might push them to buy the product.
Robert plans to invest $650 in a savings account at the beginning of each of the next seven years. If his opportunity cost rate is 5 percent compounded annually, how much will his investment be worth at the end of seven years?
Answer:
Amount after 7 years will be equal to $914.615
Explanation:
We have given initial investment P = $650
It is given it is compounded annually with rate 5%
So rate of interest r = 5%
Time period is given n = 7 years
We have to find the amount after 7 years
Future value is given by [tex]A=P(1+\frac{r}{100})^n[/tex], here A is future value P is initial investment r is rate of interest and n is time period
So [tex]A=650(1+\frac{5}{100})^7[/tex]
[tex]A=650\times 1.05^7[/tex]
[tex]A=650\times 1.4071[/tex]
[tex]A=914.615[/tex]
So the amount after 7 years will be $914.615
When preparing the statement of cash flows using the indirect method, a decrease in current liabilities is added to the net income to arrive at net cash provided by operating activities.
a) true
b) false
Answer:
b) false
Explanation:
Operating activities: It contains those transactions that affect the after-net income working capital. It would subtract the increase in current assets and a decline in current liabilities, while adding the reduction in current assets and a rise in current liabilities.
Therefore, the given statement is false.
To say that a decrease in current liabilities is added to net income to arrive at net cash by operating activities is FALSE
When there is a decrease in current liabilities:
It is assumed that cash was used to pay off the liabilities Cash must have reduced as it flowed to the liabilitiesBecause cash has reduced as a result of this, that cash should be deducted from net income and not added so as to reach the net cash provided by operating activities.
In conclusion, this statement is false.
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If a company failed to make the end-of-period adjustment to move the amount of management fees that were earned from the Unearned Management Fees account to the Management Fees Revenue account, this omission would cause:a. An overstatement of net income. b. An overstatement of assets. c. An overstatement of liabilities. d. An overstatement of equity. e. An understatement of liabilities.
Answer:
c. An overstatement of liabilities.
Explanation:
To account for management fees unearned but received, the following entries may be required;
Debit Cash account
Credit Unearned/Deferred Management Fees
Being entries to recognize unearned management fees.
When the fees are earned, the necessary entries are;
Debit Unearned/Deferred Management Fees
Credit Revenue (Management Fees) (P/L)
Being entries to recognize management fees earned during the period. Failure to post the second entry would result in an overstatement of Unearned/Deferred Management Fees which is an overstatement of liabilities.
Mr. A owned 75% of the voting stock and 85% of the nonvoting stock of Corporation Y. Mr. A transferred property with a fair market value of $90,000 and an adjusted basis of $70,000 to Y for an additional 5% of the voting stock and 5% of the nonvoting stock. What is the amount of gain to be recognized by Mr. A?
Answer:
$0
Explanation:
Since Mr. A already owns 75% of common stock (and 85% of nonvoting stock), the extra 5% will result in a total of 80% (and 90%), that means that he cannot recognize any loss or gain resulting from this transaction. This applies to all stockholders that own at least 80% of a company's stocks and transfer property in exchange for more stocks.
Sam’s Club believes that most of its sales are to small businesses rather than consumers, and that women are more likely to be making the purchasing decisions. This is an example of a(n) _______ that Sam’s Club could test through marketing research.
Answer: Hypothesis
Explanation:
Hypothesis is defined as the explanation for any particular phenomena or process based on supposition and evidence.hypothesis is the base and initial start for conduction of experiment to investigate the results. If that concept is found correct then it can be considered as established theory.
According to the question, the believes and supposed evidences displayed by Sam'Club that sale is mostly towards small-sector business and women are behind purchasing decision majorly are hypothesis which can be further tested and research based on market field.
Which of the following refers to an organized collection (often electronic) of data that can be searched and queried to provide information about contacts, products, customers, inventory, and more? A. Data B. Market intelligence system C. Marketing information system (MIS) D. Intranet E. Database
Answer:
E. Database
Explanation:
A database often contains data that is collected from different sources and which is stored or held in a computer and can be accessed at various time to assist in making certain decision.
In marketing, database helps to access data pertaining to customers needs in other to determine the means by which their needs can be satisfied.
Amble, Inc. exchanged a truck with a carrying amount of $12,000 and a fair value of $20,000 for a truck and $5,000 cash. The fair value of the truck received was $15,000. At what amount should Amble record the truck received in the exchange assuming the exchange?
Answer:
$15,000
Explanation:
The following journal entry shall be recorded in the accounts of Amble, Inc. in respect of exchange of truck.
Debit Credit
Fair value of truck purchased $15,000
Cash received on exchange $5,000
Carrying value of truck disposed $12,000
Gain on the truck disposed $8,000
A situation in which an economic gain by one country results in an economic loss by another is called a
Answer:
A zero-sum game
Explanation:
A zero-sum game is a situation in which the gains of one country are the result of the losses of another country. For example, if country A invades country B, and takes possession of its natural resources, the economic gain of country A came as a result of the economic loss of country B.
The cost of a completed job in a job-order costing system typically consists of the actual direct materials cost of the job, the actual direct labor cost of the job, and the manufacturing overhead cost applied to the job.A.TrueB.Flase
Answer:
True
Explanation:
For computing the cost of the completed jobs in a job-order costing system we have to consider the actual direct materials cost, actual direct labor cost, and the manufacturing overhead cost applied.
In mathematically,
The total cost of completed job = Direct Material cost + Direct labor cost + manufacturing overhead cost
Therefore, the given statement is true
Your friend currently works as an accountant at a public accounting firm in the small town of Beaver Falls, Pennsylvania. He is offered a job in New York City for $60,000. Your friend calls you and tells you that he is excited about the new job offer, which gives him a raise from his current salary of $50,000. Based on your knowledge of economics, you think that Choose one: O A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined. B. your friend has every reason to be excited because he will be getting paid C. your friend has reason to be excited because in a bigger city he will häve more D. your friend has no reason to be excited because higher pay implies more job 120% of what he used to be paid. things to do and his higher salary will allow him to spend on those activities. responsibilities and more working hours. < 11/15> SUBMIT O Type here to search Esc
Answer:
A. your friend most likely should not be quite so excited because the extremely high cost of living in New York City means his real salary increase will be less than he imagined.
Explanation:
Large cities are associated with a high cost of living. House rent, food, and transport will cost more in major cities compared to smaller towns. In considering the job offer, the accountant should analyze the cost implications of living in the New York City in comparison to his salary increment.
A salary raise in economic terms will refer to an increase in pay after adjusting to any increase increase in prices. If the prices and subsequently cost of living is rising at a higher rate compared to salary increment, then an individual is actually experiencing reduced income. The accountant should consider the offer if the salary increments would cover the expected rise in the cost of living and leave him with some surplus.
Manufacturing overhead is _______________if actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was applied to Work in Process.
Answer:
overapplied
Explanation:
When we say that manufacturing costs were overapplied, it means that at the beginning of the production process the estimated costs were too high. In other words, the budget considered that it would cost more money to produce the goods.
In this case, overhead costs tend to be overestimated and then overapplied because they rely on past data and efficiency can improve, which lowers costs; or the total production output can be lower than estimated, therefore the company incurred in less costs.
Depending on the cause of the actual lower costs it can be good or bad. If the costs were lower due to improved efficiency, then it is very good. But if the costs were lower due to a lower output, then that is not good.
Manufacturing overhead is overapplied when actual costs exceed the applied costs. This could arise from production inefficiencies or unexpected costs. The difference must be addressed for proper financial accounting.
Explanation:In the realm of managerial accounting, the term Manufacturing Overhead refers to all the indirect factory-related costs that are incurred when manufacturing a product. When the actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was applied to Work in Process, we say that the manufacturing overhead is overapplied.
This situation may arise when there is an inefficiency in production, or unexpected costs, such as unplanned machine maintenance or increased factory labor wages.
To correct this, the difference must be added back to the cost of goods sold, or distributed across remaining inventory accounts depending on the policy of the company.
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Identification of problems is challenging. What portion of an MIS system would make managers aware of promotions that are cannibalizing other products or indicate which geographical regions are responding or not responding to promotions?
A) Marketing decision support system
B) Marketing research system
C) Marketing intelligence system
D) Internal reports system
Answer:
Internal reports system.
Explanation:
Which of the following will increase the future value of a lump sum investment? I. Decreasing the interest rate; II. Increasing the interest rate; III. Increasing the time period; IV. Decreasing the amount of the lump sum investment
Answer:
II. Increasing the interest rate;
III. Increasing the time period;
Explanation:
these two factors will increase the future value of a lump sum investment.
This can be explained as -
Suppose, a sum of $ 1,000 invested for 10 years @ 5 %, it will result in $ 1,628.89.
Now, if we increase the time period to 11 years, it will result in 1,710.34 And now if we increase the rate of interest to 6 %, it will result in $ 1,898.30
Final answer:
To increase the future value of a lump sum investment, you should increase the interest rate and the duration of the investment period. Decreasing the interest rate or the lump sum amount will lower the future value.
Explanation:
To increase the future value of a lump sum investment, certain factors need to be considered. Specifically:
Decreasing the interest rate typically lowers the future value because the compound interest earned over time will be less.Increasing the interest rate leads to a higher future value, since the compound interest earned on the lump sum will be greater.Increasing the time period of the investment also results in a higher future value. This is due to the benefit of compound interest accumulating over a longer period.Decreasing the amount of the lump sum investment naturally results in a lower future value because there is less principal amount to grow over time.Therefore, the correct options that will increase the future value of a lump sum investment are II. Increasing the interest rate, and III. Increasing the time period.
An example using the formula for compound interest clearly shows the impact of increasing the interest rate and time period. For instance, if you start with a $3,000 investment at a 7% annual rate for 40 years, the future value would be calculated as:
3,000[tex](1 + .07)^{40}[/tex] = $44,923
However, if the interest rate was increased or the time period extended, the future value would be even higher.
Salim files a case agaisnt nina for nonpayments of dues.before the trial. nina is examined under oath in the presense of salim's attorney. this process of examination is known as:_______.
Answer:
A) deposition
Explanation:
A witness or a party's deposition takes place before the actual trial starts, during discovery (or the investigation stage). During the deposition, the party or witness must answer the questions of the other party's attorney. Those questions are answered under oath, which means that lying is considered perjury and the party or the witness can be prosecuted for it.
Relative to common ownership, private ownership generally leads to less conservation of resources. With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others. Private ownership generally gives the owner little incentive to find ways to use the resource wisely. With private ownership, resource owners have little incentive to consider the preferences of others when deciding how to employ a resource.
Answer:
b. With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others.
Explanation:
Which of the following is true regarding private ownership?
a.Relative to common ownership, private ownership generally leads to less conservation of resources.
b.With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others.
c.Private ownership generally gives the owner little incentive to find ways to use the resource wisely.
d. With private ownership, resource owners have little incentive to consider the preferences of others when deciding how to employ a resource.
Private Ownership is when a company is being owned by people or an organization rather than Government
Let's consider the options
Private ownership does not lead to less conservation of resources. Infact resources are conserved through optimization in revenue and publicity. It does not give the owner little incentives. Resource onwers to do not have little incentives.
B. .With private ownership, owners are held accountable for using their resources in a manner that harms the resources of others is correct because the company is owned by group of people or organizations, therefore , there is a high level of accountability which is the opposite as regards government owned establishments.
"Jane wins $100,000 in the lottery and immediately uses her winnings to open a donut shop. Her direct costs for the first year are $50,000. Alternatively, Jane could have placed her lottery winnings in a savings account earning 10 percent annual interest. Jane's total cost is"
Answer:
Jane's total cost is $60,000.
Explanation:
This is because of the phenomenon called Opportunity Cost.
Simply put, opportunity cost is the cost of the next best alternative use of resources when a choice is made at the detriment of another.
We can also define it by saying, Opportunity Cost is the forgone alternative.
So we know she spent $50,000 to start her business, but would have made 10% of $100,000 which is $10,000 which is the opportunity cost, she has incurred a total cost of $60,000.