Answer:
Culture
Explanation:
This is totally about culture. In different societies and cultures, people give meaning to things. In this culture, they give meaning to eating rice to a staple diet and eating potato as poorness. In the "health" or "fitness" sector they might argue that eating rice is best for a staple diet so which is influencing people to eat rice. Also, if the potato is cheap then people with low salaries only can eat a potato that's why this might be the reason for these associations created as a cultural issue. However, these same items might be different for another culture or society as potato is a food that can only eatable by rich people.
Alaboratory scale is known to have a standard deviation of σ = 0.001 gram in repeated weighings. Scale readings in repeated weighings are Normally distributed, with mean equal to the true weight of the specimen. Three weighings of a specimen on this scale give 1.4131, 1.4167, and 1.4101 grams. A 95% confidence interval for the true weight of this specimen is
With a standard deviation of 0.001 grams from repeated weighings, three measurements (1.4131, 1.4167, 1.4101 grams) yield a 95% confidence interval for the true weight of approximately (1.4122, 1.4144) grams.
To calculate the 95% confidence interval for the true weight of the specimen, you can use the formula for the confidence interval for the mean:
[tex]\[ \text{Confidence Interval} = \text{Mean} \pm \text{Margin of Error} \][/tex]
The margin of error is determined by the critical value for a 95% confidence interval and the standard error of the mean. The critical value for a 95% confidence interval in a normal distribution is approximately 1.96.
The standard error of the mean (SE) is given by the formula:
[tex]\[ SE = \frac{\sigma}{\sqrt{n}} \][/tex]
where:
- [tex]\(\sigma\)[/tex] is the standard deviation of the scale (0.001 gram),
- (n) is the number of weighings (3 in this case).
Now, calculate the standard error:
[tex]\[ SE = \frac{0.001}{\sqrt{3}} \][/tex]
Next, calculate the margin of error:
[tex]\[ \text{Margin of Error} = 1.96 \times SE \][/tex]
Finally, calculate the confidence interval:
[tex]\[ \text{Confidence Interval} = \text{Mean} \pm \text{Margin of Error} \][/tex]
Substitute the values (mean = average of weighings) to get the interval.
Now, let's proceed with the calculations:
1. Calculate the standard error (SE):
[tex]\[ SE = \frac{0.001}{\sqrt{3}} \approx 0.000577 \][/tex]
2. Calculate the mean:
[tex]\[ \text{Mean} = \frac{1.4131 + 1.4167 + 1.4101}{3} \approx 1.4133 \][/tex]
3. Calculate the margin of error:
[tex]\[ \text{Margin of Error} = 1.96 \times 0.000577 \approx 0.00113 \][/tex]
4. Calculate the confidence interval:
[tex]\[ \text{Confidence Interval} = 1.4133 \pm 0.00113 \][/tex]
Therefore, the 95% confidence interval for the true weight of the specimen is approximately (1.4122, 1.4144) grams.
A company's operating income was $70,000 using variable costing for a given period. Beginning and ending inventories for that period were 45,000 units and 50,000 units, respectively. Ignoring income taxes, if the fixed factory overhead application rate was $8.00 per unit, what would operating income have been using full costing?
Answer:
Operating Income Using Full Costing $
Operating income based on marginal costing 70,000
Add: Difference in inventory valuation (5,000 x $8) 40,000
Operating income based on absorption costing 110,000
Explanation:
In this case, we need to calculate difference between closing inventory and opening inventory (50,000 - 45,000= 5,000 units). The difference in inventory is valued at fixed factory overhead application rate of $8. The value of difference in inventory is added to the operating income reported by marginal costing.
To calculate operating income using full costing, consider both fixed and variable costs. Use the formula Operating Income = Sales - (Variable Costs + Fixed Costs), where Fixed Costs = Fixed Factory Overhead Application Rate * (Ending Inventory - Beginning Inventory)
Explanation:To calculate the operating income using full costing, we need to consider both fixed and variable costs. The formula for operating income using full costing is:
Operating Income = Sales - (Variable Costs + Fixed Costs)
In this case, the fixed factory overhead application rate is $8.00 per unit, and the beginning and ending inventories are 45,000 units and 50,000 units, respectively. Since the inventories have increased, we can calculate the fixed costs as:
Fixed Costs = Fixed Factory Overhead Application Rate * (Ending Inventory - Beginning Inventory)
Once we have the fixed costs, we can calculate the operating income using the full costing formula mentioned above.
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The legal liability of a common carrier for damage to or loss of goods in its custody
(A) is somewhat less than that of a bailee.
(B) is slight, as a result of state and federal regulations.
(C) cannot be limited through the use of a bill of lading.
(D) is quite strict, with the carrier being liable for all losses except those caused by certain specified perils.
Answer:
The correct option is (d).
is quite strict, with the carrier being liable for all losses except those caused by certain specified perils.
Explanation:
The legal liability of a common carrier for damage to or loss of goods in its custody is that he takes full responsibility for the goods except those caused by certain specified perils.
im Marlow, the owner of The Clock Works, wanted to know how many clocks he must sell in order to cover his fixed cost at a given price. Tim knew that he had a fixed cost of $20,000 for equipment, taxes, and a bank loan. He also had a unit variable cost of $20 per clock for labor, materials, and promotional costs. If the price Tim charges for each of his clocks is $40, what is his break-even point quantity? Group of answer choices
Answer:
Break even point will be 2000
Explanation:
We have given fixed cost = $20000
Variable cost = $20 per clock
And Tim charges $40 for each clock
So sales cost = $40
So contribution margin per units = $40 - $20 = $20
We have to find the break even point
Break even point is given by
Break even point =\frac{fixed\ cost}{contribution\ margin\ per\ unit}=\frac{$20000}{$20}=2000
Midshipmen Company borrows $11,500 from Falcon Company on July 1, 2018. Midshipmen repays the amount borrowed and pays interest of 12% (1%/month) on June 30, 2019.
(1) Record the borrowing for Midshipmen on July 1, 2018.
(2) Record the adjusting entry for Midshipmen on December 31, 2018.
(3) Calculate the 2018 year-end adjusted balances of Interest Payable and Interest Expense (assuming the balance of Interest Payable at the beginning of the year is $0).
Answer:
Part 1:
Account Debit Credit
Cash $11,500
Notes Payable $11,500
(On 12% Interest)
Part 2:
Account Debit Credit
Interest Expense $690
Interest Payable $690
Part 3:
Interest Expense = $690
Interest Payable = $690
Explanation:
Part 1:
July 1, 2018 Midshipmen borrows $11,500 from Falcon Company.
Account Debit Credit
Cash $11,500
Notes Payable $11,500
(On 12% Interest)
Part 2:
From july 1,2018 to Dec 31,2018, Interest expense has accumulated for 6 months. Since each month the interest is 1% so For each month interest is
($11500 * 1% = $115).
For 6 months Interest expense = $115 * 6
For 6 months Interest expense = $690
General Entry:
Account Debit Credit
Interest Expense $690
Interest Payable $690
Part 3:
Same as Part 2 i.e
From july 1,2018 to Dec 31,2018, Interest expense has accumulated for 6 months. Since each month the interest is 1% so For each month interest is
($11500 * 1% = $115).
For 6 months Interest expense = $115 * 6
For 6 months Interest expense = $690
Interest Expense = $690
Interest Payable = $690
Company X wants to borrow $10,000,000 floating for 5 years. Company Y wants to borrow $10,000,000 fixed for 5 years. Their external borrowing opportunities are; Fixed-Rate Floating-Rate Borrowing Cost Borrowing CostCompany X10% LIBOR Company Y12% LIBOR + 1.5% Design a mutually beneficial interest only swap for X and Y with a notational principal of $10 million by having appropriate values for;A = Company X's external borrowing rateB = Company Y's payment to X (rate)C = Company X's payment to Y (rate)D = Company Y's external borrowing rate
Answer:
The answer is:
10% fixed rate = Company X's external borrowing (rate);
11.8% fixed rate = Company Y's payment to X (rate);
LIBOR + 1.5% = Company X's payment to Y (rate);
LIBOR + 1.5% = Company Y's external borrowing rate.
Explanation:
First, X will borrow at 10% fixed and Y will borrow at LIBOR + 1.5% floating; both at notational principal of $10 million.
Then; they will enter into a interest swap where:
- X will pay to the swap the interest rate of Libor +1.5% and receive from the swap the fixed interest rate of 11.8%. Thus, X interest income and interest expenses will be: Borrowed at fixed 10% and payment at Libor+1.5% to the swap; Receipt of 11.8% from the Swap=> Net effect: X borrowed at LIBOR - 0.3% ( saving of 0.3%).
- Y will pay to the swap the fixed interest rate 11.8% and receive from the swap LIBOR +1.5%. Thus, Y interest income and interest expenses will be: Borrowed at LIBOR +1.5 and payment 11.8% fixed to the swap; Receipt of Libor + 1.5% from Bthe Swap=> Net effect: Y borrowed at 11.8% fixed ( saving of 0.2%).
To take advantage of an arbitrage opportunity, an investor would
I) construct a zero-investment portfolio that will yield a sure profit.
II) construct a zero-beta-investment portfolio that will yield a sure profit.
III) make simultaneous trades in two markets without any net investment.
IV) short sell the asset in the low-priced market and buy it in the high-priced market.
Answer:
The answer is III) make simultaneous trades in two markets without any net investment.
Explanation:
Arbitrage is simultaneously buying an asset ( may be currency, securities...) in a low-priced market and sell it in a high-priced market.
As a results, the investor earns profit from price differences in the two markets without risk and net investment. It is because the two trading happens at the same time once price differences in any two markets are recognized ( arbitrage opportunities recognized) and the proceed of selling the asset is immediately used for financing/returning to the buying of the asset.
Thus, (III) is the correct answer.
J has a whole life policy with a return of premium rider. Which of the following would best describe this rider?
A term rider on a permanent policy
Answer:
The correct answer is:
A term rider on a permanent policy.
Explanation:
A return of premium rider refers to the case when the insured adds some additional clauses to the normal policy for an extra cost. A rider is obtained considering a specific period of time in which the policy would be paid to the beneficiaries in case of death, sickness or disability of the insured person. In case that the insured subject lives more than the pre-established period of time the amount that he paid for the return of premium rider would be given back to him. For example if J pays $50 monthly for a 30 years life term policy and he lives after that period of time, he will receive $18.000 at the end of the contract as a premium return.
Discuss the role of the FOMC and the three major policies it implements to help regulate banks. Briefly describe the equation used to measure bank reserves and the definition of the federal funds rate and their role as operating targets of the Federal Reserve as part of the FOMC directive.
Answer and Explanation:
Role of FOMC:
it takes the responsibility of open market operation which is the important tool to control the manetary policy in the economy.
three major policies of FOMC:
- open market operations
- discount rate
- reserve requirement
open market operations is the tool of manetary policy through open market operations, government will buy and sale the government securities and bonds in the market to control the inflation and deflation in the economy.
discount rate is the interest rate where the reserve bank charges on borrowing funds from the financial institutions at short term basis.
reserve requirement is the percentage of deposits, where the banks should hold some amount as reserves.
equation used to measure the bank reserves is given by:
bank reserves = bank's deposit at central bank + vault cash
bank reserves = required reserves + excess reserves
federal funds rate is the interest rate which is charged by the banks to lend the reserves to other banks overnight.
federal funds rate as a part of open market operation to operate the target of the federal reserves:
in order to operate the open market operation, federal open market committee uses the tool of federal funds rate. by changing the federal funds rate, it will influence the short term interest rates, long term interest rates, foreign exchange rates etc.
In its first year of operations Acme Corp. had income before tax of $400,000. Acme made income tax payments totaling $150,000 during the year and has an income tax rate of 40%. What is the balance in income tax payable at the end of the year?
Answer:
$10,000 (Credit balance)
Explanation:
Given that,
Income before tax = $400,000
Income tax payments during the year = $150,000
Income tax rate = 40 percent
Therefore,
The balance in income tax payable at the end of the year:
= Tax liability - Income tax paid
= ($400,000 × 40%) - $150,000
= $160,000 - $150,000
= $10,000 (Credit balance)
Alan (27) and Kara (26) are married and filing a joint return. Both Alan and Kara were full-time students all year at State College, located at 11100 College Boulevard, Your City, Your State. During the year, Alan paid $5,000 in tuition and fees, substantiated with Form 1098-T. Kara paid $3,900 in tuition and fees, also substantiated with Form 1098-I. Both Alan and Kara have part-time jobs outside of school. They did not receive any scholarships during the year. Their adjusted gross income is $45,000. Their total tax on line 11 of their federal Form 1040 is $2,142. They had no additional taxes. Both Alan and Kara meet all the requirements to qualify for the American Opportunity Tax Credit.
Complete Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits) for Alan and Kara.
Answer:
AOLC_{Allan}=$2750
AOLC_{Kara}=$2475
AOLC_{Allan}=$1000
AOLC_{Kara}=$780
Explanation:
American Opportunity Learning credit.
First, assuming Allan and Kara are eligible, we must know how the two forms of credit work. For the American Opportunity Learning credit (AOLC), it is possible to receive 100% of the tax deduction for the first 2000 and then 25% of the deduction up to a maximum of 2500. So, the amount of the opportunity credit for Allan and Kara is given by:
[tex]AOLC_{Allan}=2000+(5000-2000)*0.25=2750[/tex]
[tex]AOLC_{Kara}=2000+(3900-2000)*0.25=2475[/tex]
Now, for the American Lifetime Learning credit (ALLC), we have to allow 20% deduction of taxes up to $2000 if the person meets the requirement of not earning more than 68000, then:
[tex]AOLC_{Allan}=5000*0.2=1000[/tex]
[tex]AOLC_{Kara}=3900*0.2=780[/tex]
Harvey Corporation is studying a project that would have a ten-year life and would require a $450,000 investment in equipment which has no salvage value. The project would provide net operating income each year as follows for the life of the project (Ignore income taxes.):
Answer:
3 years
Explanation:
The formula to compute the payback period is shown below:
= Initial investment ÷ Net cash flow
where,
Initial investment is $450,000
And, the net cash flow = annual net operating income + depreciation expenses
= $105,000 + $45,000
= $150,000
Now put these values to the above formula
So, the value would equal to
= ($450,000) ÷ ($150,000)
= 3 years
On January 1, Sway Corporation had 60,000 shares of $10 par value common stock outstanding. On March 17, the company declared a 15% stock dividend to stockholders of record on March 20. Market value of the stock was $13 on March 17. The stock was distributed on March 30. The entry to record the transaction of March 30 would include a:
a.credit to Cash for $90,000.
b. debit to Common Stock Dividends Distributable for $90,000.
c. credit to Paid-in Capital in Excess of Par for $27,000.
d. debit to Stock Dividends for $27,000.
Answer:
Explanation:
Answer
The answer and procedures of the exercise are attached in the following archives.
Step-by-step explanation:
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Assume someone organizes all farms in the nation into a singleminusprice monopoly. As a result, the price consumers pay for food A. rises. B. does not change, that is, it remains constant. C. falls. D. might rise or fall depending on whether the demand for food is elastic or inelastic. E. might rise or fall depending on whether the monopoly's marginal revenue curve lies above or below its demand curve.
Answer:
E. might rise or fall depending on whether the monopoly's marginal revenue curve lies above or below its demand curve.
Explanation:
In monopoly, the supply rule is the way how the farm will decide the price to sell the products in the market. This rule is simple, the price will be set where the demand curve cross the marginal revenue function, and not as perfect competition, where demand and supply demand cross. In monopoly the quantities are less thant perfect market situation, and the price is higher.
Automobiles arrive at the drive-through window at the downtown Baton Rouge, Louisiana. post office at the rate of 4every 10 minutes. The average service time is 2 minutes. The Poisson distribution is appropriate for the arrival rate andservice times are exponentially distributed.a) What is the average time a car is in the system?b) What is the average number of cars in the system?c) What is the average number of cars waiting to receive service?d) What is the average time a car is in the queue?e) What is the probability that there are no cars at the window?f) What percentage of the time is the postal clerk busy?9) What is the probability that there are exactly 2 cars in the system?h) By how much would your answer to part (a) be reduced if a second drive-through window, with its own server, wereadded?
The average time a car spends in the system is 10 minutes, and the average number of cars in the system is 4. The average number of cars in the queue is approximately 3.2, and the probability that there are no cars at the window is 20%. A clerk is busy 80% of the time, and the probability of exactly 2 cars in the system is approximately 20.5%. If a second drive-through window is added, the average time a car is in the system would reduce significantly.
Explanation:In order to solve these questions, we must first understand the concepts of the Poisson distribution and the exponential distribution. The Poisson distribution is used to model the number of events happening in a fixed interval of time if these events occur at a known average rate and independently of the time since the last event. Exponential distribution is concerned with the amount of time until a specific event occurs.
For this case the arrival rate of cars (λ) is 4 every 10 minutes or 0.4 cars per minute, and the service rate (μ) is 1 car every 2 minutes or 0.5 cars per minute. Then we apply these rates to the formulas associated with Queuing Theory. Traffic intensity (ρ): λ/μ = 0.4/0.5 = 0.8. The average number of cars in the system (L): ρ/(1-ρ) = 0.8/(1-0.8) = 4.
The average time a car is the system (W): 1/(μ-λ) = 1/(0.5-0.4) = 10 minutes. The average number of cars in the queue (Lq): ρ²/(1-ρ) = 0.64/(1-0.8) = 3.2 cars. The probability of zero cars at the window (P0): 1-ρ = 1-0.8 = 0.2 or 20%. The percent of time the postal clerk is busy is equal to the traffic intensity, thus 80% of the time. For the probability of exactly 2 cars in the system, we use the Erlang's formula which gives approximately 0.205 or 20.5%.
If a second drive-through window is added, the system then becomes a multi-server model (M/M/2) and the calculations become more complex. But, the effect is to substantially reduce the average time a car is in the system, as the service capacity has been doubled.
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The average time a car is in the system is 2.8 minutes. The average number of cars in the system is 1.12 cars. The average number of cars waiting to receive service is 0. The average time a car is in the queue is 0.2 minutes. The probability of no cars at the window is approximately 67.03%. The postal clerk is busy 32.97% of the time. The probability of exactly 2 cars in the system is approximately 8.05%. Adding a second drive-through window with its own server would reduce the average time a car is in the system, but the exact reduction depends on various factors.
Explanation:a) To find the average time a car is in the system, we need to calculate the average time a car spends in the queue and the average service time. The average time a car spends in the queue can be found using Little's Law, which states that the average number of customers in a system is equal to the arrival rate multiplied by the average time a customer spends in the system. In this case, the arrival rate is 4 cars every 10 minutes and the average service time is 2 minutes. So, the average time a car spends in the queue is (4/10) * 2 = 0.8 minutes. The average time a car spends in the system is the average time in the queue plus the average service time, which is 0.8 + 2 = 2.8 minutes.
b) The average number of cars in the system can be found using Little's Law. The arrival rate is 4 cars every 10 minutes, so the average number of cars in the system is (4/10) * 2.8 = 1.12 cars.
c) To find the average number of cars waiting to receive service, we subtract the average number of cars in the system from the average number of cars arriving per minute. The arrival rate is 4 cars every 10 minutes, so the average number of cars arriving per minute is 4/10 = 0.4 cars. The average number of cars waiting to receive service is 0.4 - 1.12 = -0.72 cars. Since the number of cars cannot be negative, the average number of cars waiting to receive service is 0.
d) The average time a car is in the queue can be found by dividing the average number of cars in the queue by the arrival rate. Since the average number of cars in the queue is 0.8 and the arrival rate is 4 cars every 10 minutes, the average time a car is in the queue is 0.8 / (4/10) = 0.2 minutes.
e) The probability that there are no cars at the window can be found using the Poisson distribution formula, which is P(X=0) = (e^(-λ) * λ^0) / 0!, where λ is the average arrival rate. In this case, the average arrival rate is 4 cars every 10 minutes, which is equivalent to 0.4 cars per minute. So, the probability that there are no cars at the window is P(X=0) = (e^(-0.4) * 0.4^0) / 0! = (e^(-0.4) * 1) / 1 = e^(-0.4) ≈ 0.6703, or 67.03%.
f) The percentage of the time that the postal clerk is busy can be found by subtracting the probability that there are no cars at the window from 1. So, the percentage of the time that the postal clerk is busy is 1 - 0.6703 = 0.3297, or 32.97%.
g) The probability that there are exactly 2 cars in the system can be found using the Poisson distribution formula, which is P(X=2) = (e^(-λ) * λ^2) / 2!, where λ is the average arrival rate. In this case, the average arrival rate is 4 cars every 10 minutes, which is equivalent to 0.4 cars per minute. So, the probability that there are exactly 2 cars in the system is P(X=2) = (e^(-0.4) * 0.4^2) / 2! = (e^(-0.4) * 0.16) / 2 = e^(-0.4) * 0.08 ≈ 0.0805, or 8.05%.
h) If a second drive-through window with its own server were added, the average time a car is in the system would be reduced. This is because the arrival rate would stay the same, but the number of servers would increase, resulting in a decrease in the time it takes to serve a car. The exact reduction in average time would depend on various factors, such as the efficiency of the second server and the coordination between the two servers.
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Big Trail Running Company has started to produce running apparel in addition to the trail running shoes that they have manufactured for years. They feel that a departmental overhead rate would best reflect their overall manufacturing overhead usage. Based on research the following information was gathered for the upcomingyear:
Machining Department Finishing Department
Estimated Manufacturing Overhead by Department $1,000,000 100,000
Trail Running Shoes 130,000 machine hours 9,000 direct labor hours
Running Apparel 70,000 machine hours 71,000 direct labor hours
Manufacturing overhead is driven by machine hours for the machining department and direct labor hours for the finishing department.
1. Based on this information, what is the departmental manufacturing overhead rate for the machining and finishing department, respectively? (Round any intermediary calculations and your final answer to the nearest cent.)
A. $7.69 per machine hour and $1.41 per direct labor hour
B. $14.29 per machine hour and $11.11 per direct labor hour
C. $5.00 per machine hour and $1.25 per direct labor hour
D. $5.50 per machine hour and $13.75 per direct labor hour
Answer:
Option (C) is correct.
Explanation:
For Machining department,
Manufacturing overhead rate:
= Estimated Overhead cost ÷ Amount of allocation base
= [$1,000,000 ÷ (130,000 + 70,000) machine hours]
= $1,000,000 ÷ 200,000 machine hours
= $5.00 per machine hour
For Finishing department,
Manufacturing overhead rate:
= Estimated Overhead cost ÷ Amount of allocation base
= [$100,000 ÷ (9,000 + 71,000) direct labor hours]
= $100,000 ÷ 80,000 direct labor hours
= $1.25 per labor hour
When institutions and policies provide secure property rights, a fair and balanced judicial system, monetary stability, and effective limits on the power of government, which of the following is most likely to be encouraged?
(A) Rent-seeking.
(B) Actions that reduce the value of resources.
(C) Productive activities.
(D) Destructive activities.
Answer:
(C) Productive activities.
Explanation:
All the actions detailed are traits of a public power that respect the free market as a system that allocates resources as efficiently as possible. In this case, the public system works for the mechanism of prices functions based on private decisions and firms can rely upon that none public disturbance arises in the future. The other 3 options used to occur when public institutions intervene in the free market.
Walmart's decision to build fulfillment centers illustrates which force in Porter's Five Forces Model?
A. bargaining power of suppliers
B. threat of substitute products
C. bargaining power of buyers (customers)
D. threat of new entrants
E. intensity of rivalry within the industry
Answer:
the correct answer is D. threat of new entrants
good luck
The activities of philanthropic foundations are unique because: Group of answer choicesa. they reduce health care costs b. they are quasi-governmental agencies c. they have money to give away d. they have so many staff members
Answer:
The correct answer is (C)
Explanation:
Philanthropic foundations are unique and an important part of helping and building a society. Most of the organisations have no money to spend whereas philanthropic foundations have money to spend that makes them unique. Public and government institution support these organisation to help poor and hungry people. Philanthropic foundations are charitable organisations, community foundations etc.
Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average inventory turnover of only 12 times per year. He has therefore determined that he will reduce his component lot sizes. He has developed the following data for one component, the safety chain clip: Setup labor cost $25 per hour Annual holding cost $13 per unit Daily production 960 units/8 hour day Annual demand 23,000 (250 days eachtimes×daily demand of 92 units) Desired lot size 120 units (one hour of production)
To obtain the desired lot size, the set-up time that should be achieved = ___ minutes.
Answer:
0.1472 hours or 8.832 minutes
Explanation:
Annual demand- 23,000 units
Daily demand – 92 units
Daily production – 960 units per 8 hour day
Desired lot size - 120 units
Holding cost per unit per year - $13 per unit
Set up labor cost per hour - $25 per hour
Set up cost:
= {(120 × 120) × $13 × [1 - (92 ÷ 960)]} ÷ [2 × (23,000) ]
= $169,260 ÷ 46,000
= $3.68
Set up time:
= Set up cost ÷ Set up labor cost per hour
= $3.68 ÷ $25 per hour
= 0.1472 hours or 8.832 minutes
To achieve the desired lot size of 120 units in Carol Cagle's manufacturing plant, the setup time should be 60 minutes.
Explanation:Considering the desired lot size, which is 120 units, for a daily production of 960 units in an 8-hour shift, production time for a unit must be calculated first.
Production time for a unit is the total time available divided by the total units produced. In this case, it's 8 hours (or 480 minutes) divided by 960 units, which gives 0.5 minutes per unit. Therefore, to produce a lot size of 120 units, 120 units would require 0.5 minutes/unit x 120 units = 60 minutes of setup time. So, the required setup time for the desired lot size should be 60 minutes.
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Among the tax proposals regularly considered by Congress is an additional tax on distilled liquors. The tax would not apply to beer. The price elasticity of supply of liquor is 3.5, and the price elasticity of demand is −0.4. The cross-elasticity of demand for beer with respect to the price of liquor is 0.1. If the new tax is imposed, who will bear the greater burden long —liquor suppliers or liquor consumers?
Answer:
Liquor consumers
Explanation:
Price elasticity measures the degree of responsiveness of quantity demanded to changes in price. Demand is elastic if a small change in price has a great effect on quantity demanded. The coefficient of elasticity is usually greater than 1.
Demand is inelastic if changes in price has little or no impact on the quantity demanded. Coefficient of elasticity is usually less than 1.
The elasticity of demand for liquor is -0.4 while the elasticity of supply for liquor is 3.5. Therefore the demand for liquor is inelastic while the supply of liquor is elastic.
If taxes are imposed on consumers, the quantity demanded wouldn't change or change a little.
If taxes are imposed on suppliers, the quantity supplied would fall more.
Therefore , the burden of tax can be passed on more to consumers.
I hope my answer helps you.
Given the high price elasticity of supply for liquor (3.5) and the low price elasticity of demand (-0.4), the tax incidence indicates that liquor consumers would bear the greater economic burden of the additional tax on distilled liquors, as they are less responsive to price changes.
Explanation:When analyzing the tax incidence of a proposed additional tax on distilled liquors, it's crucial to understand the concepts of price elasticity of supply and price elasticity of demand. In this case, the price elasticity of supply for liquor is given as 3.5, indicating that liquor suppliers are highly responsive to price changes. In contrast, the price elasticity of demand is -0.4, suggesting that liquor consumers are not as responsive to price changes.
According to economic principles, when the supply is more elastic than the demand, as in this liquor market scenario, consumers will bear the greater burden of the tax because they have a more inelastic demand. Suppliers can more easily adjust the quantity supplied or move their resources to different markets in response to tax changes. Additionally, the cross-elasticity of demand for beer concerning the price of liquor is 0.1, which is relatively low, indicating that a change in the price of liquor due to the new tax would not significantly influence the demand for beer.
Therefore, upon imposition of the new tax on liquor, liquor consumers would experience a greater economic burden, since they are less responsive to price changes compared to the producers.
What are unsought goods?
Answer:
Unsought goods are goods that are not in demand either because consumers are not aware of them, or because they do not see an immediate need for them.
Explanation:
There are certain goods that consumers are not aware of and as such, are not interested in purchasing. These goods are called unsought goods. New products just entering the market are examples of unsought goods and awareness for such products can be generated through advertising and extensive marketing.
In some cases, consumers are aware of unsought goods but are not interested in buying them at the moment as they do not have immediate benefits. An example of such is accident insurance.
Selected information from the accounting records of Ellison Manufacturing Company follows:
Net sales ............................................ P3,600,000
Cost of goods sold ................................... 2,400,000
Inventories at January 1 ............................. 672,000
Inventories at December 31 ........................... 576,000
What is the number of days' sales in average inventories for the year?
a. 102.2
b. 94.9
c. 87.6
d. 68.1
Answer:
b. 94.9
Explanation:
The computation of the number of days' sales in average inventories is shown below:
Day inventory outstanding = (Beginning inventory + ending inventory) ÷ 2 ÷ cost of goods sold × total number of days in a year
= ($672,000 + $576,000) ÷ 2 ÷ $2,400,000 × 365 days
= ($624,000 ÷ $2,400,000 ) × 365 days
= 94.90 days
Simply we take the average of inventory and divide from the costs of goods sold
All other information which is given is not relevant. Hence, ignored it
SprayCo Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On March 9 of the current year, SprayCo reacquired 19,100 shares of its common stock at $20 per share. On June 9, 13,700 of the reacquired shares were sold at $25 per share, and on November 13, 4,000 of the reacquired shares were sold at $21. Required:
a. Journalize the transactions of March 9, June 9, and November 13. Refer to the Chart of Accounts for exact wording of account titles.
b. What is the balance in Paid-In Capital from Sale of Treasury Stock on December 31 of the current year?
c. What is the balance in Treasury Stock on December 31 of the current year?
d. How will the balance in Treasury Stock be reported on the balance sheet?
Answer:
treasury stock 382,000 debit
cash 382,000 credit
cash 342,500 debit
treasury stock 274,000 credit
additional paid-in TS 68,500 credit
cash 84,000 debit
treasury stock 80,000 credit
additional paid-in TS 4,000 credit
additional paid-in TS 72,500
Treasury Stock 28,000
The Treasury Stock will be reported as a decrease to the equity.
Explanation:
19,100 shares x $20 per share = 382,000
13,700 shares x $20 per share = 274,000
13,700 shares x $25 per share = 342,500
additional paid-in = 68,500
4,000 shares x $21 per share = 84,000
4,000 shares x $20 per share = (80,000)
additional paid-in 4,000
68,500 + 4,000 = 72,500 additional paid-in TS
TS 382,000 - 274,000 - 80,000 = 28,000
Before-tax cost of debt and after-tax cost of debt David Abbot is buying a new house, and he is taking out a 3030-year mortgage. David will borrow $199 comma 000199,000 from a bank, and to repay the loan he will make 360360 monthly payments (principal and interest) of $1 comma 117.451,117.45 per month over the next 3030 years. David can deduct interest payments on his mortgage from his taxable income, and based on his income, David is in the 3030% tax bracket.
a. What is the before-tax interest rate (per year) on David's loan?
b. What is the after-tax interest rate that David is paying?
Answer:
Before-tax interest rate = 6.738%
After-tax interest rate = 4.7169%
Explanation:
Before we determine before and after tax interest rate per year, we need to understand the tax consequences arising from raising debt finance. Normally debt finance is considered a cheaper source of finance than other long term sources of finance due to two main reasons, 1st, debt providers require greater security (i.e assets being secured/charged) and 2nd, interest on debt is tax-deductible which means companies raising debt finance will benefit by paying lower taxes due to the interest being paid before taxes, hence, reducing the taxable income and tax liability. Therefore, an entity's after-tax interest rate will always be lower than before-tax interest rate. This will be proved as follows:
The formula used to compute before-tax interest rate/cost of debt is as follows;
kd = (i÷ market value of debt)×100
i = yearly interest
yearly interest= 1117.451×12= $13409.412
kd = ($13409.412÷$199000)×100
kd= 6.738%
The formula for after-tax interest rate is same except for the inclusion of tax consequences, as follows:
kd = {i(1-t) ÷ market value of debt} ×100
As we know the after-tax interest is interest paid on debt less any income tax savings due to deductible interest expense, that's why the (1-t).
kd = {$13409.412(1-0.30)÷199000}×100
kd= $9386.588 ÷$199000×100
kd= 4.7169%
Digital compression technology made it possible for MTV to program across a global network. What other technologi- cal innovations have helped companies to think globally and act locally?
Answer and explanation:
Factors such as technological innovation and Internet's growing position, has changed the way businesses are run worldwide. Internet retailing is an example of technological innovation that has helped businesses think globally. With companies like Amazon and Alibaba, this has created an evolutionary change in the retail concept.
A profit center is evaluated by the rate of return earned on the investment allocated to the center. referred to as a loss center when operations do not meet the company’s objectives. a responsibility center that always reports a profit. a responsibility center that incurs costs and generates revenues.
Answer:
a responsibility center that incurs costs and generates revenues.
Explanation:
We know that
The profit = Sales revenue - cost
After selling the product and incurred expenses, the amount which is left is shown as a profit. The remaining amount is termed as a profit that a firm has earned during a particular year.
It is the responsibility center at which we know about the total cost incurred and total revenues earned so that it becomes easy to compute how much the firm has earned the profit in a year.
The Coase Theorem suggests that negotiations to eliminate an externality allow the resource toA. continue to benefit everyoneB. move to the person who values it the mostC. move to the person who needs it the mostD. stop causing the externality altogether
Answer:
B. move to the person who values it the most.
Explanation:
In order to obtain a sample of undergraduate students in the United States, a simple random sample of 10 states is selected. From each of the selected states, 10 colleges or universities are chosen at random. Finally, from each of these 100 colleges or universities, a simple random sample of 20 undergraduate students is selected. Thus, the final sample consists of 2,000 undergraduates. This is an example of which type of sampling strategy?
Answer:
Multistage Sampling.
Explanation:
Multistage Sampling -
It is the method of sampling , where samples are taken in small portion , at every level of the sampling process , is referred to as multistage sampling.
It is quite a complex method , which require dividing the population into groups , and then further sampling is done, hence it is a long process and require a lot of time.
Hence, from the question, the type of sampling method involved in the question is multistage sampling.
The type of sampling strategy used in this scenario is: Cluster Sampling.
The sampling strategy used is Cluster Sampling, where states were the clusters and colleges within states were sampled.
Cluster sampling is efficient for selecting samples from populations that are challenging to list completely.Cluster sampling involves dividing the population into clusters, then randomly selecting some of these clusters to be included in the sample. In this case, states were the clusters, and colleges within those states were then sampled.Other considerations of _______________ are important such as services performed in the home raising children, but these are not included in GDP..
A social well-being
B. production of cars
C.production of oil
D. production of education services
Answer:
The correct answer is letter "A": social well-being .
Explanation:
Social well-being is the state in which a community is in regards to lifestyles, traditions, and beliefs. It represents how healthy individuals in a society are mentally and physically. It also influences on citizens' intellectual state. The methods parents use at home to raise their children can be directly associated with how good is a region well being. Though, this factor is not included at the moment of calculating the Gross Domestic Product (GDP) of a country.