Question 3 1. What was one objection that craft and home brewers had to industrial, or 'big', beer? Edit View Insert Format Tools Table 12pt Paragraph | BIU T²V: р 10 words ✓ 1 pts
Craft and home brewers objected to industrial or 'big' beer for its lack of variety and creativity in flavors and styles.
One objection that craft and home brewers had to industrial or 'big' beer was the lack of variety and diversity in flavors and styles. Industrial beer production often focuses on mass production and uniformity, leading to a limited range of standardized beer offerings. Craft and home brewers value experimentation, creativity, and the ability to produce unique and distinct flavors that cater to different tastes.
Craft brewers prioritize using high-quality ingredients, employing traditional brewing techniques, and emphasizing local and artisanal production. They believe that industrial beer lacks the attention to detail and craftsmanship found in smaller-scale brewing operations. Craft brewers also highlight the importance of community and fostering a personal connection with consumers, which they feel is diminished in industrial beer production.
Additionally, craft brewers often advocate for supporting local economies and sustainability. They promote the use of locally sourced ingredients, reducing carbon footprints, and minimizing environmental impact. Industrial beer production, on the other hand, is often associated with large-scale operations that may prioritize cost-efficiency and mass distribution over these values.
Overall, the objection of craft and home brewers to industrial beer revolves around the desire for more diverse, flavorful, and unique beer options, along with a focus on craftsmanship, community, and sustainability.
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One of the most famous cartels of the past 50 years is OPEC, the Organization of Petroleum Exporting Countries. The members of OPEC are countries rather than individual businesses. Dit Ministers from each of the countries meet regularly to establish how much each oil each country will produce each month (the amount each country agrees to produce is called its quota). Saudi Arabia is the largest oil-producing country in OPEC. Why does Saudi Arabia usually produce less than its quota each month?
Saudi Arabia usually produces less than its quota each month because it has a long-term interest in keeping oil prices high.
OPEC's member countries aim to stabilize oil prices and supply by regulating their own production and therefore keeping prices high. Since Saudi Arabia is the largest oil-producing country in OPEC, it has a significant impact on oil prices in the global market.
Saudi Arabia can manipulate prices and influence demand by producing less oil than its quota. A decrease in oil supply generally leads to a rise in oil prices. This can benefit Saudi Arabia in the long run as it would maximize its profits.
In addition, Saudi Arabia also considers its international relationships with other countries when deciding its production quotas. For instance, if the country maintains good relations with the US, it may produce less oil than its quota to meet the US's demand as a gesture of goodwill.
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Cunningham Corp., had a balance of $86,000 in its quality-assurance warranty liability account as of December 31, 2020. In 2021, Cunningham's warranty expenditures paid were $451,000. Its warranty exp
Therefore, the balance in the quality-assurance warranty liability account as of December 31, 2021 is $246,000.
In the given question, the Cunningham Corp., had a balance of $86,000 in its quality-assurance warranty liability account as of December 31, 2020. In 2021, Cunningham's warranty expenditures paid were $451,000. Its warranty expense is $291,000.
Warranty Expense:
Warranty expenses refer to the cost of repairing or replacing defective goods under warranty. Cunningham Corp.'s warranty expense is $291,000.The formula for computing the balance in quality-assurance warranty liability account as of December 31, 2021 is:
Ending balance = Beginning balance + Warranty expenditures paid - Warranty expenses
Substitute the given values in the formula:
Beginning balance = $86,000
Warranty expenditures paid = $451,000
Warranty expenses = $291,000
Ending balance = $86,000 + $451,000 - $291,000 = $246,000
Therefore, the balance in the quality-assurance warranty liability account as of December 31, 2021 is $246,000.
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. An example of a non-economical factor is:
a. Monthly disbursement.
b. Income taxes.
c. MIRR.
d. None of the above.
None of the above is an example of a non-economical factor. (Option d)
An example of a non-economical factor is:
d. None of the above.
The options provided (monthly disbursement, income taxes, MIRR) all pertain to economic factors. A non-economical factor would refer to a factor that is not directly related to economic considerations, such as social, environmental, or ethical factors.
Economical factors typically refer to factors that involve financial considerations, such as costs, profits, or monetary transactions. Non-economic factors, on the other hand, are those that do not directly involve financial or monetary aspects. They can include various elements such as social, cultural, environmental, or ethical considerations.
For example, non-economic factors may include:
Social factors: These can include aspects related to social preferences, norms, or values that may influence decision-making. For instance, a company may consider the social impact of its operations on the local community or the well-being of its employees.Environmental factors: These factors relate to the impact of business activities on the environment, such as resource depletion, pollution, or climate change. Companies may need to consider environmental regulations or adopt sustainable practices.Ethical factors: These factors pertain to ethical considerations and moral principles. They involve decisions based on what is perceived as right or wrong, fair or unfair. Companies may consider ethical issues such as fair labor practices, human rights, or corporate social responsibility.Legal factors: While legal factors can have economic implications, they can also be considered non-economic factors. Legal factors refer to laws, regulations, and legal frameworks that companies must comply with, irrespective of their financial impact.To know more about non-economical factor follow the link:
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Which of the following explain why the aggregate demand (AD) curve is downward sloping? Check all that apply. a. The real balances effect b. The net exports effect c. The substitution effect d. The interest-rate effect
The correct answers are: a. The real balances effect
b. The net exports effect
d. The interest-rate effect
The aggregate demand (AD) curve is downward sloping due to several factors:
a. The real balances effect: As the price level decreases, the purchasing power of individuals' wealth increases, leading to higher consumer spending. This increases aggregate demand.
b. The net exports effect: A decrease in the price level makes domestic goods and services relatively cheaper compared to foreign goods. This leads to an increase in exports and a decrease in imports, which boosts aggregate demand.
d. The interest-rate effect: A decrease in the price level reduces the demand for money, leading to lower interest rates. Lower interest rates stimulate investment and borrowing, resulting in increased aggregate demand.
c. The substitution effect: Although mentioned as an option, it does not directly contribute to the downward slope of the AD curve. The substitution effect refers to the shift in consumption patterns between goods as relative prices change, but it does not explain the downward slope of the AD curve itself.
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T/F Corner Market sells groceries. Delta Food & Drug Store sells groceries and fills prescriptions. The party with the chief responsibility to prevent unsafe food and drugs from being sold is the Food and Drug Administration
The statement " Corner Market sells groceries. Delta Food & Drug Store sells groceries and fills prescriptions. The party with the chief responsibility to prevent unsafe food and drugs from being sold is the Food and Drug Administration" is true as Food and Drug Administration is responsible for all such safety regulations.
The regulatory body in charge of ensuring the efficacy, appropriate labeling, and safety of food and drug products in the United States is the Food and Drug Administration (FDA). Their main responsibility is to safeguard the public's health by controlling the production, sale and marketing of food and drugs, including prescription drugs.
While Corner Market and Delta Food & Drug Store both sell groceries, the latter is subject to FDA regulations that ensure the safety and effectiveness of both food and drug products because it also fills prescriptions.
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The demand and supply for bicycles is given by: Qd = 1000 - 10P Q³ = 2P - 20 The government imposes a per unit tax of Tax = $12. What is new CS and PS? What is the change in consumer and producer surplus compared to equilibrium? What is the Deadweight Loss? What is government revenue? Graph your results.
Note that t the effects of the per unit tax by the government on the bicycle market are:
1. New Consumer Surplus (CS) is $6,020
2. New Producer Surplus (PS) is $6,020
3. Change in Consumer Surplus compared to equilibrium is -$355
4. Change in Producer Surplus compared to equilibrium is $6,020
5. Deadweight Loss is $5,665
6. Government Revenue is $1,680
How is this so?To analyze the effects of a per unit tax on the bicycle market, we'll start by finding the equilibrium price and quantity without the tax.
Equating the quantity demanded (Qd) and quantity supplied (Qs), we have -
1000 - 10P = 2P - 20
12P = 1020
P = 85
Substituting the equilibrium price (P) into either the demand or supply equation, we find the equilibrium quantity (Q) -
Qd = 1000 - 10(85)
Qd = 1000 - 850
Qd = 150
The equilibrium price is $85, and the equilibrium quantity is 150 bicycles.
With the tax imposed, the new supply equation becomes
Qs = 2P - 20 - Tax
Substituting the tax value of $12
Qs = 2P - 20 - 12
Qs = 2P - 32
To find the new equilibrium, we set the quantity demanded equal to the new quantity supplied
1000 - 10P = 2P - 32
12P = 1032
P = 86
Substituting the new equilibrium price into the supply equation
Qs = 2(86) - 32
Qs = 140
The new equilibrium price is $86, and the new equilibrium quantity is 140 bicycles.
Now we can calculate the changes in consumer surplus (CS) and producer surplus (PS) compared to the original equilibrium.
Consumer Surplus (CS)
Original CS = 0.5 * (85 - 0) * (150 - 0) = $6,375
New CS = 0.5 * (86 - 0) * (140 - 0)
= $6,020
Change in CS = New CS - Original CS
= $6,020 - $6,375
= -$355
Producer Surplus (PS)
Original PS = 0.5 * (85 - 0) * (0 - 0)
= $0
New PS = 0.5 * (86 - 0) * (140 - 0)
= $6,020
Change in PS = New PS - Original PS
= $6,020 - $0
= $6,020
The deadweight loss represents the loss in total surplus due to the tax and can be calculated as -
Deadweight Loss = Change in CS + Change in PS
= -$355 + $6,020
= $5,665
Government Revenue
Government Revenue = Tax * Quantity
= $12 * 140
= $1,680
Graphically, the effects of the tax can be represented as a shift in the supply curve upward by the amount of the tax ($12), resulting in a new equilibrium with a higher price and lower quantity.
The area of deadweight loss can be represented by the triangular region between the original and new equilibrium quantities and the demand curve.
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All the answers are provided just show your work and explain how
to get the answers above.This is a multi-part question and all
parts must be answered.
Exercise 23-3 (Algo) Preparing flexible budgets LO P1 Tempo Company's fixed budget (based on sales of 18,000 units) folllows. Fixed Budget 3,924,000 Sales (18,000 units × $218 per unit) Costs 414,000
To compute the total variable cost per unit, we need to sum up the variable costs and divide it by the number of units. In this case, the variable costs are direct materials, direct labor, production supplies, sales commissions, packaging, and advertising.
Adding them up, we get $300,000 + $528,000 + $336,000 + $96,000 + $168,000 + $100,000 = $1,428,000. Dividing this by the number of units (12,000), we get $1,428,000 / 12,000 = $72 per unit.The total fixed costs are the sum of the fixed costs listed in the budget. These include plant manager salaries, administrative salaries, depreciation—office equipment, insurance, and office rent.
Adding them up, we get $100,000 + $150,000 + $120,000 + $90,000 + $100,000 = $560,000.To compute the income from operations for a sales volume of 10,000 units, we need to subtract the total variable cost per unit from the sales revenue and then subtract the total fixed costs. The sales revenue is $212 per unit multiplied by 10,000 units, which equals $2,120,000. The total variable cost for 10,000 units is $72 per unit multiplied by 10,000 units, which equals $720,000. Subtracting the variable costs and fixed costs from the sales revenue, we get $2,120,000 - $720,000 - $1,000,000 = $400,000.
Similarly, to compute the income from operations for a sales volume of 14,000 units, we use the same calculation. The sales revenue is $212 per unit multiplied by 14,000 units, which equals $2,968,000. The total variable cost for 14,000 units is $72 per unit multiplied by 14,000 units, which equals $1,008,000. Subtracting the variable costs and fixed costs from the sales revenue, we get $2,968,000 - $1,008,000 - $1,000,000 = $960,000.
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Complete Question:
Preparing flexible budgets LO P1
Tempo Company's fixed budget (based on sales of 12,000 units) for the first quarter reveals the following.
Fixed Budget
Sales (12,000 units × $212 per unit) $ 2,544,000
Cost of goods sold
Direct materials $ 300,000 Direct labor 528,000 Production supplies 336,000 Plant manager salary 100,000 1,264,000 Gross profit 1,280,000 Selling expenses Sales commissions of 96,000 Packaging 168,000 Advertising 100,000 364,000 Administrative expenses Administrative salaries 150,000 Depreciation—office equip. 120,000 Insurance 90,000 Office rent 100,000 460,000 Income from operations $ 456,000(1) Compute the total variable cost per unit.
(2) Compute the total fixed costs.
(3) Compute the income from operations for sales volume of 10,000 units.
(4) Compute the income from operations for sales volume of 14,000 units.
true/false. as a result of a downturn in the economy, optiplex corporation has excess productive capacity
During an economic downturn, businesses often experience a decline in consumer spending and overall demand for their products or services. As a result, companies may find themselves with excess productive capacity, meaning they have the capability to produce more goods or services than what is currently required by the market.
Excess productive capacity can arise due to several factors. For instance, when demand decreases, businesses may scale back their production levels to avoid overstocking inventories. This reduction in production can lead to underutilization of resources, such as machinery, equipment, and labor. As a result, businesses may have idle or underutilized capacity, which represents the difference between their current production levels and their maximum production capacity.
In the case of Optiplex Corporation, the statement suggests that they have excess productive capacity due to the downturn in the economy. This implies that they have the ability to increase their production levels if the demand for their products were to pick up in the future.
It's important to note that while excess capacity may seem unfavorable in the short term, it can also present opportunities. Businesses can use this period to invest in research and development, improve their operations, or explore new markets, positioning themselves for growth once the economy recovers.
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Question 13 Sheen the acquativity figures for materials in KK aluminum company as 1.3 in year 2018 and 1.5 in year 2020, which statement is true about productivity 15.30% -15.38 -13330
The statement that is true about productivity is 15.38%.
Given, Sheen the acquativity figures for materials in KK aluminum company as 1.3 in year 2018 and 1.5 in year 2020.To find the statement which is true about productivity from the given options. Productivity is a measure of the efficiency of production. It is a ratio of output per unit of input. Higher productivity means lower cost of production per unit of output. Hence, higher productivity is always desirable. It can be calculated using the formula,
Productivity = Output/Input
Let's calculate the percentage change in productivity:
Productivity in 2018 = 1.3
Productivity in 2020 = 1.5
Percentage change in productivity = [(New value - Old value) / Old value] × 100%Percentage change in productivity = [(1.5 - 1.3) / 1.3] × 100%Percentage change in productivity = [0.2 / 1.3] × 100%Percentage change in productivity = 15.38%
Therefore, the statement that is true about productivity is 15.38%.
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please help! thank you
6. Limitations of GDP Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios
The following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States:
The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government.
The loss of enjoyment people incur when scenic land is converted to commercial use.
The variety of goods available to consumers.
These scenarios are not easily captured by traditional GDP measurement methods, as they involve non-market transactions, intangible values, or subjective experiences that are not directly reflected in monetary transactions.
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6. Limitations of GDP
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation.
Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States? Check all that apply.
The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
Funds spent by city governments to renovate their buildings
The loss of enjoyment people incur when scenic land is converted to commercial use
The variety of goods available to consumers
When a U.S. company purchases and imports automotive parts from Canada to use to build cars within the United States, this purchase increases the
component of GDP while also
automotive parts from Canada causes
net exports by the same amount. Therefore, the purchase of
in US GDP.
krista lee can purchase a service contract for all of her major appliances for $270 a year. if the appliances are expected to last for 7 years and she earns 5 percent on her savings, what would be the future value of the amount krista will pay for the service contract?
To calculate the future value of the amount Krista will pay for the service contract, we can use the formula for calculating the future value of a series of equal payments:
Future Value = Payment × [(1 + Interest Rate)^Number of Years - 1] / Interest Rate
In this case, Krista pays $270 per year for 7 years, and she earns a 5% return on her savings.
Let's plug these numbers into the formula:
Future Value = $270 × [(1 + 0.05)^7 - 1] / 0.05
Future Value = $270 × (1.05^7 - 1) / 0.05
Future Value = $270 × (1.4071 - 1) / 0.05
Future Value = $270 × 0.4071 / 0.05
Future Value = $2,058.54
Therefore, the future value of the amount Krista will pay for the service contract is approximately $2,058.54.
This calculation assumes that Krista saves the $270 she would have spent on the service contract each year and earns a 5% return on her savings. The future value represents the accumulated amount of these savings over the 7-year period.
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Which of the statements is wrong? O Money supply increase leads to decrease in interest rate Decrease in Interest Rate leads to Increase in Investment Increase in Investment leads to increase in Aggre
The statement "Decrease in Interest Rate leads to Increase in Investment" is incorrect.
In reality, a decrease in interest rates typically leads to an increase in investment. Lower interest rates make borrowing cheaper, which encourages businesses and individuals to borrow and invest in various projects. This increased investment can have a positive impact on aggregate demand and economic growth.
So, the correct statement should be: "Decrease in Interest Rate leads to Increase in Investment."
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A bank is offering a savings account with an effective annual compound interest rate of 6.50%. The compounding period for the bank is every 2 months. What is the interest rate for the bank account for each 2 month period?
The interest rate for each 2-month period in the bank account is around 1.08%.
Interest rate = 6.50%
Time duration = 2 months
Calculating compounding periods -
As the compounding period is every 2 months, means the total number of compounding periods is
= 12/2 ( There are 12 months in a year)
= 6
The amount a person pays for borrowing represented as a percentage of the entire loan amount, is called the interest rate.
Calculating the interest rate for each two-month period:
Interest rate per period = Effective annual interest rate / Number of compounding periods
Substituting the values -
= 6.50% / 6
= 0.0650 / 6
≈ 0.0108
or 1.08%
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Question 2 (Accounting and Ethics) (15 marks)
Marang Letsatsi is the MD and main shareholder of Marang ‘s Bar & Grill. To expand, the business is applying for a R250 000 bank loan. To get the loan, Marang is considering two options for beefing up the owners’ equity of the business:
Option1: Issue R100 000 of ordinary shares for cash. A friend has been wanting to invest in the company. This may be the right time to extend the offer
Option 2: Transfer R100 000 of Marang ‘s personal land to the business. and issue ordinary shares to Marang. Then after obtaining the loan Marang can transfer the land back to himself and zero out the ordinary shares
Required Use the ethical decision-making model to answer the following questions:
1. What is the ethical issue (1)
2. Who are the stakeholders? (4) what are the possible consequences to each? (2)
3. Analyze the alternatives from the following standpoints a) economic, b) legal, and c) ethical (6)
4. What would you do? How would you justify your decision? How would your decision make you feel afterwards? (2
The decision to issue R 100,000 worth of ordinary shares in exchange for cash is unethical due to possibility that company would be taken over by a friend who has no interest in the business and lacks credibility.
2. The decision to transfer R 100,000 of Marang's personal land to the business is unethical because it could result in the business being taken over by a non-interested person or someone with poor reputation.
1. Situations that arise as a result of a moral conflict and must be resolved are referred to as ethical issues. As a result, ethical issues frequently conflict with societal values.
2. Partners are people, gatherings or associations straightforwardly engaged with, or in a roundabout way impacted by, an undertaking, item, administration or venture. All things considered, partners moreover influence why and how an organization carries on with work.
3. Ethical means to follow certain moral codes that aren't always enforced by law, whereas legal means to follow the rules of the law.
4.The process of identifying a decision, gathering information, and evaluating alternative options is known as decision making. Utilizing a bit by bit dynamic interaction can assist you with making more conscious, smart choices by coordinating pertinent data and characterizing options.
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What needs to be taken into consideration when making a project
budget? List 6 items.
There are six main things that should be considered when creating a project budget. They are accuracy, accounting, economic environment, cost management, demand and judgment.
A project budget is the estimated cost of all the resources needed for a specific project. The goal is to calculate how much money will be required to complete a project successfully.
The first point to made a project budget is accuracy, and this involves providing the right details in terms of costs, quantities, and other relevant data. To ensure an accurate budget, it is important to consider all the resources required, including labor, equipment, supplies, and other overhead costs.
The second is accounting, whichs is the proper accounting practices must be applied throughout the project to ensure that all expenditures are tracked and recorded appropriately. This will allow you to monitor the project’s financial performance and identify any areas where cost-cutting measures can be implemented.
For third we have economic environment. It changes in the economy can significantly affect project budgets. For example, inflation can cause material and labor costs to rise, while a weak economy may result in fewer projects and more competition. It is important to keep up to date with economic trends that could impact the project.
The fourth is cost management, this is the process of identifying, analyzing, and controlling project expenses. It involves monitoring the project budget, identifying potential cost overruns, and implementing corrective measures where necessary.
The fifth is demand, and this involves understanding the current and future demand for the project. If the demand is high, then there will be a greater need for resources, which will increase the project's budget. Conversely, if demand is low, then fewer resources will be required, and the budget will be lower.
Finally, the sixth is judgment. This is perhaps the most important factor when creating a project budget. It requires an individual to make informed decisions based on their experience and knowledge. This includes identifying areas where money can be saved without compromising the quality of the project.
In conclusion, creating a project budget requires careful consideration of the factors mentioned above. An accurate and well-planned budget will allow for effective management of resources, resulting in the successful completion of the project within the set budget.
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What is true of a firm's production if it operates in a perfectly competitive market in long-run equilibrium?
Marginal revenue = demand = marginal cost > average total cost
Marginal revenue = marginal cost = average fixed cost
Average total cost = price = average variable cost
Marginal cost < Marginal revenue
Price = marginal cost = average total cost
The condition "Price = marginal cost = average total cost" is true of a firm's production if it operates in a perfectly competitive market in long-run equilibrium.
In a perfectly competitive market, a firm in long-run equilibrium produces at the point where its short-run marginal cost is equal to the price, and the long-run marginal cost is equal to the average cost, which equals the price. Thus, the answer is "Price = marginal cost = average total cost. "In the long run, all the resources are variable, and the firms can adjust their production level. Perfect competition occurs when the demand and supply are perfectly elastic. Therefore, firms in a perfectly competitive market cannot affect the market price as they are price-takers.
Thus, they must accept the price set by the market. The equilibrium point of the firm, in the long run, is at the point where the market price equals the minimum of its long-run average cost. At this point, the firms earn zero economic profits, and there is no incentive for firms to leave or enter the industry. Thus, the industry is in equilibrium. Further, the conditions of equilibrium require marginal revenue to be equal to marginal cost, demand to be equal to marginal revenue and price, and marginal cost equal to the minimum of the long-run average total cost.
Thus, the condition "Price = marginal cost = average total cost" is true of a firm's production if it operates in a perfectly competitive market in long-run equilibrium.
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Kimpel Products makes pizza ovens for commercial use. James Kimpel, CEO, is contemplating producing smaller ovens for use in high school and college kitchens. The activities necessary to build an expe
Kimpel Products is considering producing smaller pizza ovens for high school and college kitchens. The activities necessary to build an experimental model and collect related data are outlined in the following table.
To develop smaller pizza ovens for high school and college kitchens, Kimpel Products needs to follow a series of activities as listed in the table. These activities are crucial for building an experimental model and gathering the necessary data. By systematically going through each activity, the company can ensure a comprehensive and well-informed approach to the development process.
The activities may involve tasks such as designing the oven prototype, sourcing materials and components, constructing the model, testing its functionality, and collecting data on performance metrics like cooking time and energy consumption.
This information will enable the company to evaluate the viability of producing smaller ovens for educational institutions and make informed decisions about further development and potential market entry. By following these activities, Kimpel Products can assess the feasibility and market potential of their new product line and tailor it to the specific needs of high school and college kitchens.
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The complete question:
Kimpel Products Makes Pizza Ovens For Commercial Use. James Kimpel, CEO, Is Contemplating Producing Smaller Ovens For Use In High School And College Kitchens. The Activities Necessary To Build An Experimental Model And Related Data Are Listed In The Following Table:
seamus industries inc. buys and sells investments as part of its ongoing cash management. the following investment transactions were completed during the year: feb. 24. acquired 1,000 shares of tett co. stock for $85 per share plus a $150 brokerage commission. may 16. acquired 2,500 shares of issacson co. stock for $36 per share plus a $100 commission. july 14. sold 400 shares of tett co. stock for $100 per share less a $75 brokerage commission. aug. 12. sold 750 shares of issacson co. stock for $32.50 per share less an $80 brokerage commission. oct. 31. received dividends of $0.40 per share on tett co. stock. journalize the entries for these transactions.
The journal entrY for the investment transactions of Seamus Industries Inc. would be as follows:
February 24:
Debit: Investment in Tett Co. Stock $85,000
Debit: Brokerage Commission Expense $150
Credit: Cash $85,150
May 16:
Debit: Investment in Issacson Co. Stock $90,000
Debit: Brokerage Commission Expense $100
Credit: Cash $90,100
July 14:
Debit: Cash $39,725
Debit: Brokerage Commission Expense $75
Credit: Investment in Tett Co. Stock $40,000
Credit: Gain on Sale of Investments $750
August 12:
Debit: Cash $24,390
Debit: Brokerage Commission Expense $80
Credit: Investment in Issacson Co. Stock $24,375
Credit: Gain on Sale of Investments $35
October 31:
Debit: Cash $400
Credit: Dividend Income $400
Note: The "Investment in Tett Co. Stock" and "Investment in Issacson Co. Adjustments may be needed based on the specific accounts used by the company.
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What is the purpose of a Stakeholder Register and how is it used? How can a project manager incorporate this tool into controlling the project?
A Stakeholder Register is a project management tool used to identify, assess, and prioritize stakeholders for a project.
It includes information such as stakeholder names, roles, interests, expectations, communication needs, and level of influence. The purpose of a Stakeholder Register is to help project managers proactively manage stakeholder engagement by keeping track of stakeholder needs and requirements, and managing stakeholder expectations throughout the project lifecycle.
To incorporate this tool into controlling the project, a project manager should regularly review and update the Stakeholder Register to ensure that it reflects any changes in stakeholder relationships or project circumstances. The project manager should also use the register to inform communication and engagement plans, ensuring that stakeholders are engaged in meaningful ways, and their needs are being met. Moreover, the register can be used to prioritize stakeholder claims in case of conflicting demands or resource constraints. Overall, The Stakeholder Register is a valuable tool for project managers to manage stakeholder relationships effectively and to ensure project success.
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WU JO on in long-term liabilities 20) Mission Corp. borrowed $50,000 cash on April 1, 2019, and signed a one-year 12% interest-bearing note payable. The interest and principal are both due on March 31, 2020. 20) Assume that the appropriate adjusting entry was made on December 31, 2019 and that no adjusting entries have been made during 2020. Which of the following would be the required journal entry to pay the entire amount due on March 31, 2020? A) Interest expense Notes payable Interest payable Cash B) XXX Interest payable Note payable Cash XXX XXX XXX Interest expense Interest payable Notes payable Cash XXX
The required journal entry to pay the entire amount due on March 31, 2020, would be option B: XXX Interest payable Note payable Cash XXX XXX XXX Interest expense Interest payable Notes payable Cash XXX.
When the entire amount due on the note payable is paid, the journal entry should reflect the decrease in the notes payable and interest payable accounts and the corresponding decrease in cash. Option B correctly represents this transaction. Interest expense is recorded to reflect the interest accrued on the note payable until the payment date, and it reduces the interest payable balance. The notes payable account is reduced by the principal amount, and cash is reduced by the total payment made.
Option A is not the correct journal entry because it fails to record the interest expense, which is necessary to account for the interest accrued on the note payable. The interest expense represents the cost of borrowing the funds and needs to be recognized when the payment is made.
In summary, option B provides the correct journal entry to pay the entire amount due on March 31, 2020, considering the interest expense, note payable, interest payable, and cash accounts.
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______ are factors that may, if extreme, cause people to feel overwhelmed by anxiety, tension, or pressure.
Stressors are factors that may, if extreme, cause people to feel overwhelmed by anxiety, tension, or pressure.
Stressors refer to various external or internal factors that can elicit a stress response in individuals. These factors can vary from person to person and may include situations, events, or conditions that exert pressure or demand on an individual's physical, emotional, or psychological well-being.
Common examples of stressors include work-related pressures, financial difficulties, relationship conflicts, academic demands, major life changes, health issues, and environmental factors. When stressors exceed an individual's coping abilities or persist for an extended period, they can lead to feelings of stress, anxiety, and overwhelm.
It is important to recognize and manage stressors effectively to maintain overall well-being. Strategies such as stress management techniques, seeking support from others, adopting healthy coping mechanisms, and making lifestyle adjustments can help individuals effectively navigate and minimize the impact of stressors in their lives.
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Problem 3-19 (Algo) Multiple Predetermined Overhead Rates; Applying Overhead (LO3-1, LO3-2, LO3-4] High Desert Potteryworks makes a variety of pottery products that it sells to retailers. The company uses a job-order costing system in which departmental predetermined overhead rates are used to apply manufacturing overhead cost to jobs. The predetermined overhead rate in the Molding Department is based on machine-hours, and the rate in the Painting Department is based on direct labor- hours. At the beginning of the year, the company provided the following estimates: Direct labor-hours Machine-hours Fixed manufacturing overhead cost Variable manufacturing overhead per machine-hour Variable manufacturing overhead per direct labor-hour Department Molding Painting 37,000 54,100 81,000 31,000 $ 178,200 $476,080 $ 3.00 - $ 5.00 Job 205 was started on August 1 and completed on August 10. The company's cost records show the following information concerning the job: Direct labor-hours Machine-hours Direct materials Direct labor cost Department MoldingPainting 75127 38068 $ 950 $1,300 $ 700 $ 990 Required: 1. Compute the predetermined overhead rates used in the Molding Department and the Painting Department. 2. Compute the total overhead cost applied to Job 205. 3-a. What would be the total manufacturing cost recorded for Job 205? 3-b. If the job contained 24 units, what would be the unit product cost? Complete this question by entering your answers in the tabs below. Req 1 Reg 2 Req ЗА Req 3B Compute the Predetermined Overhead Rates used in the Molding Department and the Painting Department. (Round your answers to 2 decimal places.) Predetermined Overhead Rate Molding Department per MH Painting Department per DLH Reqi Reg 2 > Complete this question by entering your answers in the tabs below. Req 1 Req 2 Req ЗА Req 3B Compute the total overhead cost applied to Job 205. (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Total overhead cost Req1 Req 3A > Req 1 Reg 2 Req ЗА Req 3B What would be the total manufacturing cost recorded for Job 205? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations and final answers to the nearest dollar amount.) Department Molding Painting Total Direct materials Direct labor Manufacturing overhead Total cost < Reg 2 Req 3B > Reg 1 Req 2 Req ЗА Req 3B If the job contained 24 units, what would be the unit product cost? (Round "Predetermined overhead rate" to 2 decimal places. Round other intermediate calculations to the nearest dollar amount. Round your final answer to 2 decimal places.) Unit product cost per unit Req 3A Req 38 )
a) The total cost allocated to each product and the cost per unit using the activity-based costing system are given in the table below: Products Tab A 35 Gen X 20 Zen G 50 Direct materials cost $750,000.00 $1,000,000.00 $1,750,000.00 Direct labor cost $390,000.00 $310,000.00 $280,000.00 Material moves $187,500.00 $100,000.00 $75,000.00 (Materials moves per unit x cost driver rate)
Direct labor hours $292,500.00 $58,500.00 $234,000.00 (DLH per unit x cost driver rate) Power $460,000.00 $276,000.00 $184,000.00 (Power per unit x cost driver rate) Engineering $137,500.00 $100,000.00 $75,000.00 (ECN per unit x cost driver rate)
Total cost allocated $2,217,500.00 $1,844,500.00 $2,518,000.00 Cost per unit $887.00 $922.25 $2,518.00
Calculation of the cost driver rate for the Material and handling is as follows;
Material and Handling = Total material handling cost / Total Material moves = $900,000/3000 = $300
Materials moves cost per unit for Tab A 35 = 1250 * 300 = $375,000
Materials moves cost per unit for Gen X 20 = 1000 * 300 = $300,000
Materials moves cost per unit for Zen G 50 = 750 * 300 = $225,000
Calculation of the cost driver rate for the Engineering cost is as follows;
Engineering cost = Total Engineering cost / Total Engineering change notices (ECN)
Engineering cost per unit for Tab A 35 = 275 * 1,500 = $412,500
Engineering cost per unit for Gen X 20 = 200 * 1,500 = $300,000
Engineering cost per unit for Zen G 50 = 150 * 1,500 = $225,000
Calculation of the cost driver rate for the Power cost is as follows;
Power cost = Total Power cost / Total Kilowatt hours
Power cost per unit for Tab A 35 = 25,000 * 23.2 = $580,000
Power cost per unit for Gen X 20 = 15,000 * 23.2 = $348,000
Power cost per unit for Zen G 50 = 10,000 * 23.2 = $232,000
b) The cost allocated to each product and the cost per unit using the traditional system are given in the table below:
Product Tab A 35 Gen X 20 Zen G 50 Direct materials cost $750,000.00 $1,000,000.00 $1,750,000.00
Direct labor cost $390,000.00 $310,000.00 $280,000.00
Direct labor hours $292,500.00 $58,500.00 $234,000.00 (DLH per unit x labor rate)
Overhead costs $780,000.00 $624,000.00 $546,000.00 (Overhead rate per DLH x DLH per unit)
Total cost allocated $2,212,500.00 $1,992,500.00 $2,810,000.00 Cost per unit $885.00 $996.25 $2,810.00
c) In the activity-based costing system, more cost pools are created than the traditional system. The cost is allocated based on activities and not on one cost driver. Thus, the activity-based costing system is more reliable than the traditional system.
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When preparing an operations budget, what is true about historical operating data? a. It should be considered in conjunction with recent operating data b. It is less important than recent operating da
When preparing an operations budget, it is true that historical operating data should be considered in conjunction with recent operating data. The correct option is (A).
An operating budget is a financial plan that outlines the expected revenues and expenses for a particular period. In business, the budget is frequently used to keep track of financial performance and guide future decision-making. The historical operating data plays an essential role in creating an operations budget since it provides a foundation for anticipating the company's performance in the upcoming period.
Historical data provides valuable insights into past performance, trends, and patterns, which can help in making more accurate projections. This data can assist to determine the amount of money that was generated and expended in previous years, allowing the budget to forecast possible revenues and expenditures. The more historical operating data you have, the more reliable your budget will be.
However, it is important to consider recent operating data since it reflects current market situations, such as changes in consumer preferences, labor costs, and taxes. By combining both historical and recent operating data, managers can make more informed decisions and create a comprehensive operations budget that takes into account both past performance and current market conditions.
To conclude, the historical operating data should be considered in conjunction with recent operating data when preparing an operations budget. Therefore, the correct option is (A).
The question mentioned above is incomplete. The complete question should be:
When preparing an operations budget, what is true about historical operating data?
a. It should be considered in conjunction with recent operating data
b. It is less important than recent operating data
c. It is more important than recent operating data
d. It should only be considered if recent operating data is unavailable.
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Monetary policy is controlled by OA. The Federal Reserve System. OB. The President. OC. Congress O D. The Treasury Department.
The answer to this question is option A. Monetary policy is controlled by the Federal Reserve System. The Federal Reserve System is an independent entity created by Congress to control the monetary policy of the United States.
Monetary policy is the strategy used by a nation's central bank to regulate the supply of money and credit in the economy. The Federal Reserve System has the power to set interest rates, issue money, and control the availability of credit in the economy. It is responsible for maintaining the stability of the financial system, promoting economic growth and employment, and keeping prices stable.
The Federal Reserve System, also known as the Fed, is the central bank of the United States. It was established in 1913 and is responsible for supervising and regulating banks, implementing monetary policy, and providing financial services to the federal government.
The Federal Reserve System is composed of twelve regional Federal Reserve Banks, a Board of Governors, and the Federal Open Market Committee (FOMC). The FOMC is responsible for implementing monetary policy by setting interest rates and controlling the money supply.
The Federal Reserve System is independent of the President, Congress, and the Treasury Department. This means that it is not subject to political pressure and can make decisions based solely on what is best for the economy. The Fed is accountable to Congress, however, and must report on its activities and policies regularly.
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DIRECTIONS: SOLVE FOR WHAT IS BEING ASKED. TYPE THE COMPLETE SOLUTION.
1. EG Marine Systems is planning to supply a Japanese shipbuilder with aero- derivative gas turbines to power 11 DD-class destroyers for the Japanese Self- Defense Force. The buyer can pay the total contract price of $2,100,000 two years from now (when the turbines will be needed) or an equivalent amount now. At an interest rate of 15% per year, what is the equivalent amount now?
2. Ezra Mechanical Products is planning to set aside $160,000 now for possibly replacing its large synchronous refiner motors whenever it becomes necessary. If the replacement is expected to take place in 3-12 years, how much will the company have in its investment set-aside account? Assume a rate of return of 16% per year compounded quarterly.
3. Five years ago, Diamond Electronics, a division of De Beers, paid $3,150,000 for new diamond cutting tools. At that time, the company estimated an added revenue need of $500,000 to recover the investment at 10% per year. If there is an estimated 8 more years of service with a salvage value of $300,000, compare the revenue needed over the entire life with that estimated 5 years ago.
Revenue needed over the entire life with the estimated 8 more years of service with a salvage value of $300,000 is $5,370,000. However, the estimated added revenue need 5 years ago was $500,000. Therefore, the revenue needed over the entire life has increased.
1. The equivalent amount now that the buyer can pay the total contract price of $2,100,000 two years from now is $1,592,357.14. Calculation is shown below: PV = FV / (1 + i)n
PV = $2,100,000 / (1 + 0.15)2
PV = $1,592,357.14
Therefore, the equivalent amount now is $1,592,357.14
2. The amount that the company will have in its investment set-aside account is $316,900.11.
Calculation is shown below: FV = PV * (1 + r/n)nt
FV = $160,000 * (1 + 0.16/4)4*12/3
FV = $316,900.11
Therefore, the company will have $316,900.11 in its investment set-aside account.
3. The revenue needed over the entire life with the estimated 8 more years of service with a salvage value of $300,000 is $440,551.35. Calculation is shown below:
Total revenue needed = Original investment + Interest - Salvage value
Total revenue needed = $3,150,000 + ($3,150,000 * 0.10 * 8) - $300,000
Total revenue needed = $3,150,000 + $2,520,000 - $300,000
Total revenue needed = $5,370,000
Revenue needed over the entire life with the estimated 8 more years of service with a salvage value of $300,000 is $5,370,000. However, the estimated added revenue need 5 years ago was $500,000. Therefore, the revenue needed over the entire life has increased.
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17). Companies XYZ sells its product for $30 per unit. Variable costs are 60% of the selling price, and your fixed costs are $25,000. What is the level of sales in dollars required to reach the breakeven point?
$33,333
$12,000
$8,000
$62,500
The correct answer is D, Rounding to the nearest dollar, the level of sales in dollars required to reach the breakeven point is approximately $62,500.
Variable cost per unit = 60% of $30 = 0.6 * $30 = $18
Now, let's calculate the breakeven point in units:
Breakeven point (in units) = Fixed costs / (Selling price per unit - Variable cost per unit)
Breakeven point (in units) = $25,000 / ($30 - $18)
Breakeven point (in units) = $25,000 / $12
Breakeven point (in units) = 2083.33 units
To convert the breakeven point into sales in dollars, we multiply it by the selling price per unit:
Breakeven point (in dollars) = Breakeven point (in units) * Selling price per unit
Breakeven point (in dollars) = 2083.33 * $30 = $62,499.90
The breakeven point is a crucial concept in business and finance that represents the point at which total costs equal total revenue, resulting in neither profit nor loss. It is the point at which a company's sales or operational activities generate enough revenue to cover all associated costs. At the breakeven point, the company has neither made a profit nor incurred a loss.
To calculate the breakeven point, one needs to determine the fixed costs (expenses that remain constant regardless of the level of production or sales) and the variable costs (expenses that change depending on the level of production or sales). By dividing the fixed costs by the contribution margin (the difference between the selling price and variable costs per unit), the breakeven point in units can be calculated. Additionally, the breakeven point in sales revenue can be determined by multiplying the breakeven point in units by the selling price per unit.
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Byron Books Inc. recently reported $15 million of net income. Its EBIT was $22.2 million, and its tax rate was 25%. What was its interest expense? (Hint: Write out the headings for an income statement, and then fill in the known values. Then divide $15 million of net income by (1 - T) = 0.75 to find pretax income. The difference between EBIT and taxable income must be interest expense. Use this same procedure to complete similar problems.) Write out your answer completely.
The interest expense of Byron Books Inc. is $2.2 million.
The first thing that we need to do is to get the Pretax income before interest. To do that we will use the formula, pretax income = Net income ÷ (1 - tax rate)
We know that, Net income = $15 million
Tax rate = 25%
Substituting the values in the formula, pretax income = $15 million ÷ (1 - 0.25) = $20 million
Now that we have found the pretax income, we can find out the interest expense. Interest expense can be found by subtracting pretax income from EBIT.
Interest expense = EBIT – pretax income
We know that EBIT = $22.2 million
Pretax income = $20 million
Substituting the values, Interest expense = $22.2 million - $20 million = $2.2 million
Hence, the interest expense of Byron Books Inc. is $2.2 million.
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A company accounts for possible bad debts using the allowance
method. When an actual bad debt occurs, what effect does it have on
the balance sheet?
When an actual write-off happens, the accounting equation has b) no effect.
When a receivable is no longer recoverable because a customer is unable to fulfill their responsibility to pay an outstanding debt owing to bankruptcy or other financial troubles, a bad debt expense is reported.
Companies that give credit to their customers disclose bad debts on their balance sheets as an allowance for doubtful accounts, often known as a provision for credit losses.
A credit sale results in a credit to revenue and a debit to an account receivable. The issue with this accounts receivable balance is that there is no certainty that the payment will be collected. A corporation may be entitled to money for a credit sale but never actually get it for a variety of reasons.
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Correct question:
A company accounts for possible bad debts using the allowance method. When an actual write-off occurs, what effect does it have on the accounting equation?
a) Decrease assets and decreases stockholders' equity.
b) No effect on the accounting equation.
c) Decreases assets and decreases liabilities.
d) Increase assets and
True or False, Why?
If the supply of land is given by SLd = 30 while the
demand curve for land services is DLd = 100 - 0. 5Ld the
price of land services per unit is PHP 999.5.
If the supply of land is given by SLd = 30 while the demand curve for land services is DLd = 100 - 0.5Ld the price of land services per unit is PHP 999.5, this statement is true.
Given: SLd = 30 (supply of land)DLd = 100 - 0.5Ld (demand for land services)The equilibrium price is the point where supply equals demand; thus, it is where SLd = DLd.In the equation for DLd:DLd = 100 - 0.5LdAt equilibrium,SLd = DLdSubstitute SLd with 30:30 = 100 - 0.5LdSolve for Ld:100 - 30 = 0.5Ld70 = 0.5LdLd = 140Therefore, at equilibrium, Ld = 140.Substitute Ld with 140 in the DLd equation to find the equilibrium price: DLd = 100 - 0.5LdDLd = 100 - 0.5(140)DLd = 100 - 70DLd = 30Hence, at the equilibrium price, the price of land services per unit is PHP 30.
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