General Product Inc.'s coupon liability as of December 31, 2021, is $24 million.
What is coupon liability?Coupon liability is a contingent liability arising from coupon redemption obligations.
As a potential future liability, only the amount that can be reasonably estimated should be recognized.
Data and Calculations:Distributed coupons = 150 million
Coupon redemption cost per unit = 40 cents
Total potential liability from coupons = $60 million (150 million x $0.40)
Probability of occurrence = 70%
Estimated redeemable liability = $42 million ($60 million x 70%)
Redeemed coupons in 2021 = 45 million or $18 million (45 million x $0.40)
Recognized contingent liability for 2021 = $24 million ($42 - $18 million)
Thus, General Product Inc.'s coupon liability as of December 31, 2021, is $24 million.
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M and M, Inc. produces a product that has a variable cost of $4.20 per unit. The company's fixed costs are $45,600. The product is sold for $8 per unit and the company desires to earn a target profit of $11,400. What is the amount of sales that will be necessary to earn the desired profit
The amount of sales that will be necessary to earn the desired profit is $120,000.
What is desired profit?Desired profit refers to the amount of the profit expected by the company which is estimated by them as per the sales of the company. The sales are also estimated and the company makes the budget of it.
To calculate the desired sale we need to calculate the contribution which is calculated as follows:-
Contribution margin per unit = (Selling price per unit - Variable costs per unit)
Contribution margin per unit = ($8 per unit - $4.20 per unit) = 3.80 per unit
Break-even point in units = (Fixed costs + Desired profit) ÷ Contribution margin per unit
Break-even point in units = ($45,600 + $11,400) ÷ 3.80 per unit = 15,000 units
Break-even point in dollars = Break-even point in units × Selling price per unit
Break-even point in dollars = 15,000 units × $8 = $120,000
Thus the desired sales is $120,000.
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Accounting assessment q15/15 assigning indirect costs to specific jobs is completed by _____.assigning indirect costs to specific jobs is completed by _____. applying a predetermined overhead rateapplying a predetermined overhead rate using the manufacturing cost incurredusing the manufacturing cost incurred allocating to manufacturing overhead accountallocating to manufacturing overhead account applying indirect costs to work in process
Assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.
What are indirect costs?Indirect costs are costs that are not directly traceable to cost objects (e.g. a job, product, or service unit).
Indirect costs are overheads incurred as a result of a business activity but without direct impact. For example, utilities, office supplies, etc. are all indirect costs.
Thus, assigning indirect costs to specific jobs is completed by D. applying indirect costs to work in process.
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A competitive firm maximizes profit by choosing the quantity at which.
Profit maximization can be achieved by a competitive corporation by choosing a quantity of output such that marginal revenue equals marginal cost.
How does a corporation maximize its profit?A corporation maximizes income via way of means of operating wherein marginal revenue equals marginal price. The corporation chooses quantity in order for that rate to equal marginal value so that it can maximize its profit.
Therefore, When the marginal revenue for an aggressive corporation equals the market rate, the firm maximizes its profit.
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A primary challenge for marketers in discovering the needs of prospective customers is that.
A primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
What is need?Needs refers to necessity. It is what people cannot do without having them hence important for human survival where as want is what people desired and not really mandatory for them to have it
Hence, a primary challenge for marketers in discovering the needs of prospective customers is that customers may not know or be able to describe what they need and want.
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The _____ approach for constructing a WBS involves refining the work into greater and greater levels of detail.
The bottom-up top-down mind mapping approach for constructing a WBS involves refining the work into greater and greater levels of detail.
What is Mind Mapping?
This refers to the graphical depiction of ideas and concepts that helps to organize information.
Hence, we can see that when constructing a WBS, it is important to use the bottom-up top-down mind mapping approach so that there would be more detail in the work.
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All powder laundry detergent is packaged in small 2 oz. packets so it will be more affordable for low-income consumers. All detergent convenience packets are small enough to be sold in vending machines to make them handy for students on a tight budget living on campus. This is an example of _______.
An example of an Income segmentation is when the detergent is packaged in different size for different class of people.
What is an Income segmentation?These aspect of segmentation involves segmenting people based on what they earn and how much disposable income they have
Therefore, the example of an Income segmentation is when the detergent is packaged in different size for different class of people.
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Which of the following is an example of an effective persuasive speech topic for a group of elementary school children? (edge 2022)
a.
the origins of Santa Claus in different cultures around the world
b.
abstinence: the best protection
c.
read at least 20 minutes a day
d.
staying in school is cool
A luxury-home designer has built a dishwasher that is connected to a cabinet and uses mechanical arms to pick up clean dishes and move them into the cabinet. Many consumers love the product, but they say they it is too expensive. Nevertheless, the company has tested the product in many situations and found that it never breaks a dish. What issue does the designer most likely need to improve in order for the dishwasher to be a good product to sell
The issue the designer most likely need to improve in order for the dishwasher to be a good product to sell is: Cost effective and should be of good quality.
Cost effectiveSince the dish washer is of good quality and does not breaks dish. What the designer need to improve on is to make the dish washer affordable for people.
Reason being that consumers love the product but they say the product is expensive.
Therefore the product should be cost effective.
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Answer:
C. affordability
Explanation:
D was wrong on the quiz
Costs such as transportation-out, sales commissions, uncollectible accounts receivable, and advertising costs are sometimes called: multiple choice downstream costs. indirect costs. upstream costs. direct costs.
Costs such as transportation-out, sales commissions etc. are sometimes called the direct costs.
What is the direct cost?Direct cost is the cost, that is directly linked with the production of goods or services.
Direct cost mainly consists of the direct labor, direct material, commissions etc.
Direct cost is incurred by the business in the making of a product or service
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ADE Company purchased equipment on January 1, Year 1 for $325,000. The equipment is estimated to have a 4-year useful life and a $75,000 salvage value. How much depreciation expense should Joseph recognize in Year 1 related to the use of the equipment
The depreciation expense to be recognized by Joseph in year 1 is $62,500.
What is depreciation?Depreciation is the gradual fall in the value of a fixed asset over its economic life. It doesn't apply to intangible assets.
Given values:
The purchase cost of equipment: $325,000
Residual value: $75,000
Number of years of useful life: 4
Computation of depreciation expense for the year 1:
[tex]\rm\ Depreciation \rm\ expense=\frac{\rm\ Purchase \rm\ cost - \rm\ Residual \rm\ value}{\rm\ Useful \rm\ life} \\\\rm\ Depreciation \rm\ expense=\frac{\$325,000-\$75,000}{4} \\\rm\ Depreciation \rm\ expense=\$62,500[/tex]
Therefore, the amount of depreciation charge comes out to be $62,500 to be reported in year 1.
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If an increase in the price of good e leads to a large decrease in the demand for good f, what is the relationship between the two goods?.
Goods E and F are probably complimentary goods if a rise in the price of item E results in a significant fall in the demand for good F.
Thus, When two products are used or consumed together, they are said to be complementary.
The fact that demand for one product declines as the price of the other good rises shows that the two goods are frequently consumed together and that a change in one good's price has the opposite effect on the demand for the other.
If good E is coffee and good F is creamer, for instance, a rise in the price of coffee (good E) may result in a drop in the demand for creamer (good F), since consumers may decide to buy less coffee.
Thus, Goods E and F are probably complimentary goods if a rise in the price of item E results in a significant fall in the demand for good F.
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Imogene loves to travel and communicate with other people. she is very patriotic and believes in helping and protecting others. which two career pathways is imogene best suited for? planning and taxation taxation and national security planning and governance national security and governance
The two career pathways that imogene is best suited for is: National Security and Governance.
What is National Security and Governance?National Security and Governance can be defined as the ability of a person to help and defend their citizenry or others and to as well protect their citizenry.
Based on the scenario given Imogene should go choose National Security and Governance as her career as this will enable her to achieve her goal and to as well make her dream to come to pass.
Therefore The two career pathways that imogene is best suited for is: National Security and Governance.
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Answer:
the answer is D
Explanation:
i got it right :D
Jeff, the owner of a business, withdrew $100 from the business for personal use. How would this affect the total equity of his business
Answer:
Jeff invests an additional $100 into his company from his personal checking account. How would this affect the equity of his business? Common stock would be increased and total equity would also increase J. Brown paid $40 to its stockholders.
The owner has effectively withdrawn part of their equity as inventory. The drawings account is a temporary account and is cleared at the end of each year either by a debit against the capital account, repayment by the owner or against the salary of the owner, depending on the circumstances of the original goods withdrawal.
Explanation:
Jeff, the owner of a business, withdrew $100 from the business for personal use. His total equity will get reduce. and his withdrawal from the business would rise.
What is a business?A business is an organization that engages in commercial, industrial, or professional activities with the aim of earning a profit. The businesses come in various sizes and forms, including sole proprietorships, partnerships, corporations, and limited liability companies.
The primary objective of most businesses is to create and deliver products or services that meet the needs or wants of their customers while generating revenue and profits for the owners or shareholders.
Jeff who is the owner of a business. If he withdrew $100 from the business for personal use. His total equity will get reduce.
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If your credit card is lost, the first step you should take is: a) Report your card as lost or stolen to your credit card company b) Retrace your steps to see if you can find it c) Call all the stores you shop in to see they found it d) None of the above
Answer:
you should report your card stolen are missing because if you do not do it right then and there some one could use it so it is best you do that.
Select the question that can be answered using only raw data. Multiple choice question. Which of the perishable items used by a restaurant should be ordered first? What is the lowest sales per week compared with the economic interest rates? What is the date, amount sold, and customer number for a sale transaction?
The question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
What is raw data?Raw data refers to data that has not been processed for use.
For example, unlike the perishable items to be ordered first or the lowest sales per week data, the data on the date, amount sold, and customer number for a sale transaction remain unprocessed and therefore raw.
Thus, the question that can be answered using only raw data is C. What is the date, amount sold, and customer number for a sale transaction?
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As a new leader you have decided to apply the path-goal theory in managing your staff. one of the two important personal characteristics of subordinates in this theory is locus of control. what is the other important personal characteristic that you should consider
A subordinate should have the ability to manage the organization's workforce as a leader. The subordinates' impression of their talents is an important personal quality.
What is the path-goal leadership theory?
According to the path-goal theory, a leader's conduct is influenced by their employees' satisfaction, motivation, and performance. The manager's task is considered as improving employees ’ performance in choosing the best pathways to achieve both their own and the company's goal.
Inclusive leaders, follower traits, task characteristics, and motivation is all aspects of the path-goal theory
As a result, the two most important personal characteristics of subordinates in the theory. for example locus of control and abilities perception.
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True or false: Some projects, such as mines, have cash outflows followed by cash inflows, which are then followed by cash outflows, giving the project multiple rates of return.
"Some projects, such as mines, have cash outflows followed by cash inflows....giving the project multiple rates of return." this statement is true. This is further explained below.
What is cash flow?Generally, inflows and outflows of cash, particularly as it relates to liquidity.
In conclusion, It is possible to have multiple internal rates of return if future cash flows are both positive and negative.
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Efficiency is ________, while effectiveness is ________.
Efficiency is the ability to produce the result with minimal utilization of resources to get maximum benefits, while effectiveness is the ability to produce a better result.
What is Efficiency?Efficiency is the ability to work with the least usage of resources in the best possible manner, which means with the minimum usage of resources we get maximum benefits.
Thus, efficiency is the ability to produce the intended result in the best possible manner with the least waste of resources, time, and effort, while effectiveness is the ability to produce the best result that delivers more value or achieves a better outcome.
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Find the a) amount, and b) compound interest. (From Example 1) Ramona Oden deposited $6,000 at 5.5% interest compounded daily for 25 days. 2. Chuck Lange deposited $6,000 at 5.5% interest compounded daily for 31 days.
Based on the amount deposited by Ramona and the interest rate, the amount would be $6,022.64 and the compound interest would be $22.64.
The amount for Chuck would be $6,027.18 and the compound interest would be $27.18.
What is the amount for Ramona?This can be found as:
= Amount x (1 + rate/compounding periods in a year) ^ number of periods
= 6,000 x (1 + 5.5%/365 days) ²⁵
= $6,022.64
The compound interest is:
= 6,022.64 - 6,000
= $22.64
What is the amount for Chuck?= 6,000 x (1 + 5.5%/365 days) ³⁰
= $6,027.18
Compound interest:
= 6,027.18 - 6,000
= $27.18
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The bottom-up approach to calculating OCF starts with Blank______. Multiple choice question. depreciation net income total sales tax liability
The bottom-up approach to calculating OCF starts with net income. Thus the 2nd option is correct.
What is OCF?The full form OCF is Operating cash flow which refers to the generation of the cash during the normal course of the business. It involves the cash generated by the company through the operating activities.
The operating cash flow is calculated through total revenue or the income of the company minus the operating expenses of the company. In order to calculate the operating cash flow all the operating expenses must be deducted.
Thus the 2nd option is correct.
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Rogers Company reported net income of $35,000 for the year. During the year, accounts receivable increased by $7,000, accounts payable decreased by $3,000 and depreciation expense of $8,000 was recorded. Net cash provided by operating activities for the year is
As per the given question, the net cash provided by operating activities for the year is $33,000.
What is net income?Net Income refers to the sales minus cost of goods sold and other operating expenses.
The net cash provided by operating activities for the year is $33,000 (35,000+8,000-7,000-3,000).
Therefore, Net cash provided by operating activities for the year is $33,000.
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The intrinsic nature of the work is the most important predictor of _________ and employee well-being.
The intrinsic nature of the work is the most important predictor of Turnover job satisfaction and employee well-being.
What is Job satisfaction?Job satisfaction can be regarded as the contentment of employees with the tasks that are involved in a particular job.
Therefore, intrinsic nature of the work is concerned with how the employee Will be satisfy with the work.
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The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty. True False
The great thing about IRAs is that you can withdraw money anytime you want with no financial penalty is a false statement.
What is IRA?An individual retirement account refers to a savings account with tax advantages that individuals can open to save and invest in the long term.
The great thing about IRAs is that you can withdraw money anytime you want, with no financial penalty is a false statement.
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Your neighbors build a high-quality addition to their home, increasing its value compared to your own home's value. because of this, you notice a bump in your property value. which economic principle is at work here
The economic principle is at work here regarding the house is known as progression.
What is an economic principle?It should be noted that economic principle simply means the laws and theories that explain and economic situation.
In this case, the economic principle is at work here regarding the house is known as progression.
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Marginal cost is equal to average total cost when a. average variable cost is falling. b. marginal cost is at its minimum. c. average total cost is at its minimum. d. average fixed cost is rising.
Answer: C
Explanation: average total cost is at its minimum
Suppose you are the manager of a local water company, and you are instructed to get consumers to reduce their water consumption by 10 percent. If the price elasticity of demand for water is 0.25, by how much would you have to raise the price of water
The price of the water needs to be raised by 40% when the consumption of water reduces by 10% and the price elasticity of demand results to 25%.
What is meant by the price of elasticity of demand?The price elasticity of demand is determined as the proportionate variation in quantity with respect to variation in the price of a good.
Given values:
Change in water consumption (fall): 10%
Price elasticity of demand: 25%
Computation of percentage change in the price of water:
[tex]\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=\frac{\rm\ Change \rm\ in \rm\ water \rm\ consumption}{\rm\ Price \rm\ elasticity \rm\ of \rm\ demand} \\\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=\frac{10\%}{25\%} \\\rm\ Change \rm\ in \rm\ price \rm\ of \rm\ water=40\%[/tex]
Therefore, there is an increase in water price by 40%.
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HELP ASAP
1. Define ethics and norms. Provide an example to illustrate how ethics and norms are related.
2. Explain the relationship between personal ethics and business ethics. How are they the same? How are they different? What role should ethics play in business decision-making?
3. Describe the role of ethics in customer relationship management.
4. What is the reason for creating a code of conduct? How is it related to a code of ethics? Provide an example of a behavior that might be addressed in a company’s code of conduct, and explain how the code aligns with specific company values.
5. How does globalization pose ethical challenges to business operations? Provide an example of the benefits of globalization and then a corresponding example explaining the problems with it. Be sure to describe who is benefitting in each of your examples.
The price of ______ goods is a determinant of demand.
Generally, the price of other goods is an important determinant of demand for a product.
What are the determinants of demand?The determining factor for demand level of a product includes changes in income, prices of related goods, consumer expectations, consumer tastes etc.
Therefore, the price of other goods is an important determinant of demand for a product.
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2
Select the correct answer from the drop-down menu.
Which type of college credit program does the statement describe?
The
✓program is one of the more common ways to get college credit in high school. It includes an exam
that you must take at the end of the course.
Explanation:
The
✓program is one of the more common ways to get college credit in high school.
A widely debated issue of the early 1990s was the ratification of the __ __ __ __ agreement, which created a free-trade area among the united states, mexico, and canada.
A widely debated issue of the early 1990s was the ratification of the North American Free Trade Agreement (NAFTA) agreement, which created a free-trade area between the United States, Mexico, and Canada.
What is NAFTA?The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the United States, Canada, and Mexico. The agreement, which eliminated most tariffs on trade between the three countries, entered into force on 1 January 1994.
Therefore, A widely debated issue of the early 1990s was the ratification of the North American Free Trade Agreement (NAFTA) agreement, which created a free-trade area between the United States, Mexico, and Canada.
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