Answer:
A charcoal and sand
Explanation:
you just won the lottery! as your prize you will receive $1,500 a month for ten years. if you can earn 9.3% on your money, what is this prize worth to you today
The prize of receiving $1,500 a month for ten years, with a 9.3% annual interest rate, is worth approximately $79,576.50 today.
How to solveTo calculate the present value of this lottery prize, we can use the Present Value of Annuity formula, which is:
PV = P * [(1 - (1 + r)^-n) / r]
Where:
PV = Present Value
P = Payment per period ($1,500 per month)
r = Interest rate per period (9.3% per year, but we'll need to convert it to a monthly rate)
n = Number of periods (10 years, but we'll need to convert it to months)
First, let's convert the interest rate and number of years to monthly values:
There are 12 months in a year, so there will be a total of 10 years * 12 months/year = 120 months.
To convert the annual interest rate to a monthly interest rate, we'll divide it by 12. This gives us a monthly interest rate of 0.093 / 12 = 0.00775.
Now, we can plug these values into the Present Value of Annuity formula:
PV = $1,500 * [(1 - (1 + 0.00775)^(-120)) / 0.00775]
Calculating the present value:
PV ≈ $1,500 * [(1 - (1.00775)^(-120)) / 0.00775] ≈ $1,500 * [53.051]
PV ≈ $79,576.50
So, the prize of receiving $1,500 a month for ten years, with a 9.3% annual interest rate, is worth approximately $79,576.50 today.
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Where is a dietician LEAST likely to work?
A.
hospital
B.
government agency
C.
nursing home
D.
high school cafeteria
Answer:
high school cafeteria
Explanation:
They have hot food...also no one will listen to
what are five recommendations to assist organisations in coping with uncertainty in the environment
Answer:
These are the 5 recommendations to assist organisations in coping with uncertainty in the environment:-
1.Build in flexibility
2.Be transparent
3.Implement and Optimize
4.Embrace Ambiguity
5.Start by changing yourself
Answer:
1- Develop agility and adaptability: Organizations need to be agile and adaptable to cope with uncertainty. They should be prepared to respond quickly to changes in the environment, such as market shifts or changes in customer needs. This can be achieved by fostering a culture of innovation and experimentation, encouraging cross-functional collaboration, and investing in continuous learning and development.
2- Conduct scenario planning: Scenario planning is a powerful tool for managing uncertainty. It involves developing multiple scenarios of how the future might unfold and preparing contingency plans for each scenario. This allows organizations to be better prepared for different outcomes and to respond more quickly and effectively to changes in the environment.
3- Diversify your offerings: Diversifying your offerings can help to mitigate risks associated with uncertainty. By offering a range of products or services, organizations can reduce their dependence on any one market or customer segment. This can also help to open up new opportunities and revenue streams.
4- Build resilience into your operations: Building resilience into your operations can help to minimize the impact of uncertainty. This includes developing contingency plans for supply chain disruptions, investing in robust IT systems, and building a strong financial position.
5- Stay informed: Staying informed about changes in the environment is critical for managing uncertainty. This involves monitoring industry trends, staying up-to-date with regulatory changes, and engaging with stakeholders to understand their needs and concerns. By staying informed, organizations can be better prepared to respond to changes in the environment and to capitalize on new opportunities.
Case Study - Leadership Qualities
Brad was chosen for a management training program at the bank. As part of the training, he spent a month as temporary manager of a small branch of the bank. A supervisor observed and evaluated his performance.
Brad was determined to do well and show everyone he was a leader. He made sure he knew all the rules and regulations. He even added a few of his own. He decided, for one thing, that women could not wear pants suits. When they asked for his reason, he said he just felt that women's pants suits did not fit the bank's image.
He was at work early every morning. He made it a point to check everyone in. If anyone was even a few minutes late, Brad would criticize that person in front of the whole staff. He knew that this was embarrassing, but he felt it served as a good warning to the others.
Some of the tellers in the branch were older employees who had been there for many years. To prove he was boss and not afraid of them, Brad made these senior employees change the way they did several things.
"You do it like this because I say so," he replied when some of the tellers tried to question him about the reason for the changes.
To demonstrate that he was alert and on top of things, Brad kept an eye on the tellers and watched what they did. If he did not like something, he did not hesitate to say so and correct the teller, even if a customer was there.
Brad felt that he had to assert himself and let everyone know who was running things. When the training program ended, he was surprised that he was not promoted to permanent manager.
What is the real problem?
What are the important facts to consider in this problem?
What solutions to this problem can you think of? Describe a few.
What would happen if the solutions you suggested were followed? Explain the results of each solution you described.
Of the solutions you described, which would you recommend? Why?
The answer of the given question are given below by understanding the given Case study
The real problem in this case is that Brad's approach to leadership is authoritarian, inflexible, and disrespectful. He is more concerned with asserting his authority and demonstrating his power than building relationships with his team, encouraging collaboration, or improving the branch's performance.
Important facts to consider in this problem include Brad's attitude towards his team members, his lack of willingness to listen to others, and his obsession with rules and regulations. Additionally, it is crucial to consider the impact of Brad's behavior on team morale, productivity, and customer satisfaction.
Solutions to this problem could include:
Coaching: Brad could benefit from coaching or mentoring to help him understand the importance of leadership qualities like empathy, listening, and collaboration.
Feedback: Providing Brad with feedback about his behavior and its impact on his team could help him understand the need to modify his approach.
Training: Brad could benefit from training on leadership styles and effective communication to help him develop a more collaborative approach.
If these solutions were followed, the coaching and feedback would help Brad understand the importance of building relationships with his team members, empowering them, and encouraging collaboration. The training would provide him with new skills and techniques that would help him to modify his leadership style to become more effective.
Of the solutions described, coaching and feedback would be the most effective in helping Brad develop the necessary leadership qualities. These solutions would help him to understand that leadership is not just about power and control, but also about building relationships, empowering others, and working collaboratively towards common goals"
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Successful teams share several characteristics. For example, successful teams___________
a) Address conflict
b)ignore troublesome members
c)compete rather than collaborate
The correct option is a) Address conflict. Successful teams are those that are able to effectively handle conflicts and disagreements that arise within the group.
Conflict is a natural part of any team or group dynamic, and ignoring it or brushing it under the rug can lead to long-term damage and dysfunction within the team. Successful teams are those that are able to identify the source of the conflict, address it directly and respectfully, and work towards a solution that is acceptable to all members. Ignoring troublesome members or competing rather than collaborating are not characteristics of successful teams. Troublesome members can disrupt team dynamics and negatively impact overall performance, so it's important for teams to address any issues and work towards a resolution. Collaboration is essential for successful teams, as it promotes teamwork, communication, and innovation. In summary, successful teams prioritize conflict resolution, collaboration, and effective communication. They are able to work together towards a common goal, handle conflicts in a constructive manner, and respect the opinions and contributions of all team members.
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3. If Buckle purchased $50 million of inventory by debiting Inventory and crediting Accounts Payable, how would its current ratio and acid-test ratio change? (Round your answers to 2 decimal places.)
If Buckle purchased $50 million of the inventory by debiting Inventory and crediting Accounts Payable, both the current ratio and acid-test ratio would decrease.
What are Accounts Payable?Accounts payable refer to the amount a business owes to its creditors or suppliers for goods or services that it has received but not yet paid for. This includes invoices received but not yet paid, as well as any other bills or expenses that are yet to be settled. Accounts payable is a liability on a company's balance sheet and represents the amount of money that the company owes to others. Managing accounts payable is crucial for businesses to maintain good relationships with their suppliers and ensure timely payment, which can help them negotiate better payment terms in the future. Effective management of accounts payable can also help businesses avoid late payment penalties and maintain a positive cash flow.
Purchase of $50 million of inventory would cause both current ratio and acid-test ratio to decrease.
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Why do experts predict that the number of surveyor jobs will not increase at as fast a rate as many other jobs?
A.
It’s such an easy job that people can do it themselves without hiring an expert.
B.
It is such a difficult and dangerous job that most people will not want to do it.
C.
Robots and other technologies will let fewer surveyors do more work.
D.
Most of the land that can be developed already has been developed.
The correct answer is D.Most of the land that can be developed already has been developed.
The reason why experts predict that the number of surveyor jobs will not increase at as fast a rate as many other jobs is because of option C, robots and other technologies will let fewer surveyors do more work. With advancements in technology, such as drones and GPS surveying equipment, the need for human surveyors is decreasing. These technologies can perform surveying tasks more quickly and accurately than traditional methods, which reduces the need for human surveyors.it’s such an easy job that people can do it themselves without hiring an expert, is not a valid reason as surveying is a specialized profession that requires specific skills and knowledge.it is such a difficult and dangerous job that most people will not want to do it, is also not a valid reason as surveying can be a challenging job, but it is not necessarily dangerous or unappealing.
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Budgeting for Needs
Select the items that are needs from your bank statement.
ABC BANK
Available Balance
$230.00
V Cell phone plan
$45
V
Rent
$400
Car insurance
$60
Backpack
$10
Electric bill
$60
Car payment
$250
Submit
In context of budgeting, the needs from the bank statement are:
Cell phone plan $45Rent $400Car insurance $60Electric bill $60Car payment $250What is the importance of all these needs?These expenses are considered needs because they are essential for daily living, such as housing (rent), transportation (car payment and insurance), communication (cell phone plan), and basic utilities (electric bill).
The backpack expense may be considered a want rather than a need, as it is not essential for basic living. When budgeting for needs, it's important to prioritize these essential expenses and allocate funds accordingly to ensure financial stability and security.
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When an EMT first questions a patient, what are they MOST directly trying to understand?
A.
the patient’s insurance information
B.
the patient’s basic information, like name and age
C.
the patient’s current symptoms
D.
the patient’s knowledge of what happened
Product: Cheetos Country: Australia
4. Customer Value: What value or benefits will your product or service deliver to the consumers?
5. Profit: What will you charge per individual product or service?
6. Marketing: How will customers learn about your product/service?
7. Customer loyalty: How will you encourage customer loyalty and referrals for new customers?
8. SWOT Analysis:
What are the STRENGTHS of conducting business/marketing your product/service in this country?
b. What are the WEAKNESSES of conducting business/marketing your product/service in this country?
c. What are the OPPORTUNITIES of conducting business/marketing your product/service in this country?
d. What are the THREATS (competition?) of conducting/marketing your product/service in your country?
9. How will you know when you are successful?
10. Describe your expectation of your product/service life cycle in this country. How long before your product/service reaches maturity?
( PLS INCLUDE MORE THAN ONE SENTENCE)
Cheetos are a popular snack food that delivers a delicious and satisfying taste experience to consumers.
Cheetos are widely available in supermarkets and convenience stores across the country.
4. Customer Value: The product provides a convenient and easy-to-eat snack option for people on-the-go. The bold and cheesy flavor of Cheetos appeals to both children and adults, making it a versatile snack option. Additionally, Cheetos are available in different sizes and packaging options, catering to individual preferences and needs.
5. Profit: The price of Cheetos in Australia will depend on the size and packaging of the product. However, a single serving size of Cheetos (28g) is expected to be priced between AUD 1.50 to AUD 2.50.
6. Marketing: To promote Cheetos in Australia, the product can be advertised on social media platforms. The brand can collaborate with popular influencers and create exciting and engaging content that appeals to the target audience. Additionally, the brand can host sampling events and offer promotions to generate interest and awareness.
7. Customer loyalty: To encourage customer loyalty, the brand can offer loyalty programs that provide incentives and rewards for repeat purchases. The brand can also engage with customers through social media and respond to their queries and feedback promptly. Offering excellent customer service and delivering a consistent product experience can also help generate customer loyalty and referrals.
8. SWOT Analysis: a. Strengths: Cheetos are a popular and recognizable brand globally. The brand has a loyal following and offers a unique and delicious taste experience that appeals to a broad range of customers.
b. Weaknesses: The snack food market in Australia is highly competitive, with many established brands competing for market share. Cheetos may face challenges in establishing a foothold in the market and competing with established brands.
c. Opportunities: Australia has a growing snack food market with a diverse and multicultural population. Cheetos can leverage this opportunity and tailor its marketing and product offerings to appeal to different customer segments.
d. Threats: Competition from established brands and changing consumer preferences and trends pose significant threats to the success of Cheetos in the Australian market.
9.Success Measurement: The success of Cheetos in Australia can be measured by sales figures, market share, and customer feedback. Additionally, the brand can track social media engagement and monitor customer sentiment to evaluate the effectiveness of its marketing campaigns.
10. Product/Service Life Cycle: The life cycle of Cheetos in Australia will depend on various factors, including market trends, competition, and customer preferences. Typically, snack foods have a relatively short product life cycle, and the time to maturity can vary from several months to a few years. However, Cheetos' popularity and brand recognition may help the product reach maturity sooner.
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Your business depends a lot on gas to transport your goods to stores. The price of oil decreases this will most likely cause the price of your product to_____?
differentiate between the sourcing decision to make or to buy.(examples)?
The sourcing decision between "make" or "buy" refers to the decision of whether a company should produce a product or service in-house or outsource it from a third-party supplier.
The decision depends on several factors, including cost, quality, capacity, expertise, and strategic goals. Here are some examples of the differences between the two options:
Make:
A company that produces custom-made products may decide to make the product in-house to maintain quality control and ensure that customer specifications are met.
A tech company may choose to develop software internally to protect its intellectual property and keep its competitive advantage.
Buy:
A company that needs raw materials for production may decide to buy them from a supplier to take advantage of economies of scale and lower costs.
A small business may decide to outsource its accounting functions to a third-party provider to save time and reduce overhead costs.
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You work for Kolb Aircraft Company. Kolb builds ultralight and experimental airplanes for flying enthusiasts. As a quality assurance manager, you’ve been invited to join a team that studies Federal Aviation Administration (FAA) safety regulations and applies them to the experimental airplanes Kolb sells. At the team’s first meeting, you are asked to prepare a summary report of FAA safety standards. Now, at your second team meeting, you deliver your report to the group. After the presentation, several group members begin discussing the company barbecue they attended last Friday.
Which team behavior does this situation describe?
a)Contributing information and ideas
b)Wasting the group’s time
c)Encouraging members to participate
Members of the group ought to comment on the presentation when it is finished, but since they are chatting about barbeque, their behaviour is inappropriate.
What conduct is permitted among group members?They include creating a trust-based environment and dynamic, handling conflict, inspiring and motivating commitment, assuring accountability, and achieving successful outcomes.
In order to accomplish goals, collaborate with others. Manage performance in a responsible and equitable way. Constructive criticism is given and received as part of routine daily work. Such comments must to be supported by facts and given in a suitable way. Trust, Conflict, Commitment, Responsibility, and Results are the five behaviours.
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A ——- is a set of activities which are networked in an order and aimed towards achieving its goals.
Answer:
A project
Explanation:
A project is a set of activities which are networked in an order and aimed towards achieving the goals of a project.
A company that uses a perpetual inventory system made the following cash purchases and sales:
Jan, 1: Purchased 100 units at $10 per unit.
Feb, 5: Purchased 60 units at $12 per unit.
March, 16: Sold 40 units for $ 16 per unit.
Prepare the general journal entry to record the March 16 sale assuming a cash sale and the LIFO method is used:
a. Dr Cash 640
Cr Sale revenue 640
Dr COGS 450
Cr Inventories 450
b. Dr Cash 640
Cr Sale revenue 640
Dr COGS 840
Cr Inventories 840
c. Dr Cash 640
Cr Sale revenue 640
Dr COGS 480
Cr Inventories 480
d. Dr Sale revenue 640
Cr cash 640
Dr COGS 480
Cr Inventories 480
e. None of these
The correct answer is option (c) Dr Cash $640, Cr Sale revenue $640, Dr COGS $480, Cr Inventories $480.
To determine the cost of goods sold (COGS) using the LIFO method, we assume that the last units purchased are the first ones sold. Therefore, the cost of the 40 units sold on March 16 is calculated as follows:
Cost of 40 units purchased on Feb 5 = 40 x $12 = $480
The general journal entry to record the March 16 sale assuming a cash sale and the LIFO method is used is:
Dr Cash $640
Cr Sale revenue $640
Dr COGS $480
Cr Inventories $480
Inventories are assets held for sale or use in the ordinary course of business. They include raw materials, work in progress, and finished goods. Proper management is essential for profitability.
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Explain six factors that affect goal congruence
Answer:
Goal congruence refers to the alignment of objectives between agents and principals, or between individuals and the organization as a whole[1]. Several factors can affect goal congruence, including external and internal factors[2]. External factors include societal norms of desirable behavior[2]. Internal factors include organizational design, leadership, morale, efficiency, stability, productivity, and effectiveness[2][3][4]. The Nadler-Tushman Congruence Model suggests that individual tasks, skills, knowledge, and work flow can also impact goal congruence[5]. Overall, goal congruence is influenced by a variety of factors, both internal and external, that can impact the alignment of objectives between individuals and the organization.
quality is both quantitative and
Answer:
Quality is both quantitative and qualitative.
The quality can be measured and expressed in both the quantitative and qualitative.
What is quality?Quality is a measure of excellence or superiority, usually in relation to a particular standard or set of expectations. It is the degree to which something meets or exceeds the desired or expected level of performance, reliability, efficiency, and overall value. Quality can be assessed in various aspects, such as product design, manufacturing, service delivery, customer satisfaction, and organizational performance. Achieving high quality requires a systematic approach that involves identifying customer needs and requirements, establishing clear quality objectives and standards, monitoring and measuring performance, continuously improving processes and systems, and engaging employees in quality management. Quality is important for building trust, enhancing reputation, increasing customer loyalty, and creating competitive advantage in today's highly demanding and dynamic markets.
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Complete Question:
Quality is both quantitative and ?
Pappy’s Potato has come up with a new product, the Potato Pet (they are freeze-dried to last longer). Pappy’s paid $120,000 for a marketing survey to determine the viability of the product. It is felt that Potato Pet will generate sales of $835,000 per year. The fixed costs associated with this will be $204,000 per year, and variable costs will amount to 20 percent of sales. The equipment necessary for production of the Potato Pet will cost $865,000 and will be depreciated in a straight-line manner for the 4 years of the product life (as with all fads, it is felt the sales will end quickly). This is the only initial cost for the production. Pappy’s has a tax rate of 23 percent and a required return of 13 percent. Calculate the payback period, NPV, and IRR. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16. Enter your IRR answer as a percent.)
Answer:
NPV: $84,659.21
Payback Period: less than 1 year
IRR: 32.17%
Explanation:
To calculate the payback period, we need to find out how long it will take to recover the initial investment of $120,000. We will do this by calculating the annual cash flows until the initial investment is fully recovered.
First, let's calculate the annual cash flows for each year:
Year 0:
-Initial investment: -$120,000
Year 1:
-Sales: $835,000
-Variable costs: $167,000 (20% of sales)
-Fixed costs: $204,000
-Depreciation: $216,250 ($865,000 / 4 years)
-EBT (Earnings before taxes): $247,750 ($835,000 - $167,000 - $204,000 - $216,250)
-Taxes: $56,972 (23% of $247,750)
-Net Income: $190,778 ($247,750 - $56,972)
-Annual Cash Flow: $311,028 ($190,778 + $120,000)
Year 2:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
Year 3:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
Year 4:
-Sales: $835,000
-Variable costs: $167,000
-Fixed costs: $204,000
-Depreciation: $216,250
-EBT: $247,750
-Taxes: $56,972
-Net Income: $190,778
-Annual Cash Flow: $311,028
The total cash inflow for the four years is $1,244,112 ($311,028 x 4 years). The payback period is the time it takes to recover the initial investment, which in this case is less than one year (around 0.39 years). Therefore, the payback period for this project is less than one year.
To calculate the NPV, we need to discount the annual cash flows to their present value using the required rate of return of 13%. The formula for NPV is:
NPV = -Initial Investment + (CF1 / (1+r)^1) + (CF2 / (1+r)^2) + ... + (CFn / (1+r)^n)
where CF is the annual cash flow, r is the required rate of return, and n is the number of years.
Substituting the values, we get:
NPV = -$120,000 + ($311,028 / 1.13^1) + ($311,028 / 1.13^2) + ($311,028 / 1.13^3) + ($311,028 / 1.13^4)
NPV = $84,659.21
Therefore, the NPV of the project is $84,659.21.
To calculate the IRR, we need to find the discount rate that makes the NPV equal to zero. We can do this using trial and error or by using the IRR function in Excel. Using Excel, we can calculate the IRR as 32.17%.
With an NPV of $304,883.82 and an IRR of around 19.47%, the Potato Pet project has a payback period of roughly 2.75 years. These findings imply that Pappy's Potato should take the project into consideration as it is anticipated to provide a profit.
What is the payback method and payback period?The payback method calculates the amount of time needed to "payback" or repay the initial expenditure. The time it takes for an investment to create enough cash revenues to cover its associated financial outflow(s), usually expressed in years, is known as the payback period.
To calculate the payback period, we need to determine how long it will take for the project to generate enough cash inflows to recover the initial investment of $985,000 ($120,000 + $865,000).
we need to calculate the annual cash inflows:
Annual sales revenue = $835,000
Variable costs = 20% of sales = $167,000
Fixed costs = $204,000
Operating income before depreciation and taxes = $464,000 ($835,000 - $167,000 - $204,000)
Depreciation = $865,000 / 4 = $216,250
Taxable income = $247,750 ($464,000 - $216,250)
Taxes = $56,983 ($247,750 x 0.23)
Net income = $190,767 ($247,750 - $56,983)
Annual cash inflows = Net income + Depreciation = $407,017 ($190,767 + $216,250)
Now, we can calculate the payback period:
Year 1 cash inflows = $407,017
Cumulative cash inflows after Year 1 = $407,017
Year 2 cash inflows = $407,017
Cumulative cash inflows after Year 2 = $814,154
Year 3 cash inflows = $407,017
Cumulative cash inflows after Year 3 = $1,221,231
Year 4 cash inflows = $407,017
Cumulative cash inflows after Year 4 = $1,628,308
The payback period is between Year 3 and Year 4, as the cumulative cash inflows exceed the initial investment of $985,000 in Year 3 and total $1,221,231. The payback period is approximately 2.75 years (or 2 years and 9 months).
To calculate the NPV, we need to discount the annual cash inflows at the required rate of return of 13%.
Year 1 PV factor = 1 / (1 + 0.13)^1 = 0.885
Year 2 PV factor = 1 / (1 + 0.13)^2 = 0.783
Year 3 PV factor = 1 / (1 + 0.13)^3 = 0.693
Year 4 PV factor = 1 / (1 + 0.13)^4 = 0.613
NPV = ($407,017 x 0.885) + ($407,017 x 0.783) + ($407,017 x 0.693) + ($407,017 x 0.613) - $985,000
NPV = $304,883.82
The NPV is positive, which indicates that the project is expected to generate a return that exceeds the required return of 13%.
To calculate the IRR, we need to find the discount rate that results in an NPV of zero. We can use a financial calculator or Excel to do this. The IRR for this project is approximately 19.47%.
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Consider the following information for Maynor Company, which uses a periodic inventory system:
Transaction Units Unit Cost Total Cost
January1 Beginning Inventory 35 $85 $2,975
March 28 Purchase 45 91 4,095
August 22 Purchase 70 95 6,650
October 14 Purchase 75 101 7,575
Goods Available for Sale 219 $20,508
The company sold 75 units on May 1 and 70 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods.
A. FIFO
B. LIFO
C. Weighted Average.
A. FIFO
Ending Inventory: $8,050
Cost of Goods Sold: $13,245
B. LIFO
Ending Inventory: $7,610
Cost of Goods Sold: $13,685
C. Weighted Average
Ending Inventory: $6,930.16
Cost of Goods Sold: $13,577.80
How to find the FIFOA. FIFO (First In, First Out)
Under the FIFO method, the first goods purchased are assumed to be the first goods sold. Therefore, for the May 1 sale of 75 units:
35 units from the January 1 Beginning Inventory (35 units * $85 = $2,975)
40 units from the March 28 Purchase (40 units * $91 = $3,640)
For the October 28 sale of 70 units, we take:
5 units from the March 28 Purchase (5 units * $91 = $455)
65 units from the August 22 Purchase (65 units * $95 = $6,175)
Cost of Goods Sold (COGS) = $2,975 + $3,640 + $455 + $6,175 = $13,245
Ending Inventory:5 units from the August 22 Purchase (5 units * $95 = $475)
75 units from the October 14 Purchase (75 units * $101 = $7,575)
Ending Inventory = $475 + $7,575 = $8,050
B. LIFO (Last In, First Out)
Under the LIFO method, the last goods purchased are assumed to be the first goods sold. For the May 1 sale of 75 units, we take:
35 units from the January 1 Beginning Inventory (35 units * $85 = $2,975)
40 units from the March 28 Purchase (40 units * $91 = $3,640)
For the October 28 sale of 70 units, we take:
70 units from the October 14 Purchase (70 units * $101 = $7,070)
Cost of Goods Sold (COGS) = $2,975 + $3,640 + $7,070 = $13,685
Ending Inventory:
5 units from the March 28 Purchase (5 units * $91 = $455)
70 units from the August 22 Purchase (70 units * $95 = $6,650)
5 units from the October 14 Purchase (5 units * $101 = $505)
Ending Inventory = $455 + $6,650 + $505 = $7,610
C. Weighted Average
Under the weighted average method, we calculate the average cost per unit for all goods available for sale.
Total Cost of Goods Available for Sale = $20,508
Total Units Available for Sale = 219
Weighted Average Cost per Unit = $20,508 / 219 = $93.64 (rounded to 2 decimal places)
For the May 1 sale of 75 units:
COGS = 75 units * $93.64 = $7,023
For the October 28 sale of 70 units:
COGS = 70 units * $93.64 = $6,554.80
Total Cost of Goods Sold (COGS) = $7,023 + $6,554.80 = $13,577.80
Ending Inventory = 74 units * $93.64 = $6,930.16
To summarize:
A. FIFO
Ending Inventory: $8,050
Cost of Goods Sold: $13,245
B. LIFO
Ending Inventory: $7,610
Cost of Goods Sold: $13,685
C. Weighted Average
Ending Inventory: $6,930.16
Cost of Goods Sold: $13,577.80
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A offers investors the opportunity to pool their investment dollars with a group of other investors, which in turn allows them the ability to purchase multiple security investments. The investments are collected into a single investment . Mutual funds may prove to be a smarter investment option for the investor that prefers to risk.
Mutual funds are investment vehicles that allow investors to pool their money together to invest in a diversified portfolio of stocks, bonds, or other securities.
This pooling of money allows investors to take advantage of the benefits of diversification, which helps to spread risk across multiple investments. Mutual funds are managed by professional fund managers, who use their expertise to select and manage the fund's investments. The fund manager's goal is to achieve the fund's investment objective, which could be anything from providing long-term growth to generating current income. One of the key benefits of mutual funds is that they are a great option for investors who prefer to mitigate risk. By investing in a diversified portfolio of securities, mutual funds offer investors exposure to a wide range of companies and industries, which helps to spread risk across multiple investments.
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Calculate,from the following information accumulated by Bob Verna,the adjusted cash balance at the end of july.
Bank staement rnding cash balance $6000
General ledger cash balance ending 8500
Bank monthly service charge 90
Deposits in transit 5000
Outstanding cheques 3000
NSF cheque returned with bank
Statement 410
A) $8000
B) 11000
C) 6000
D) 8500
The adjusted cash balance at the end of July for Bob Verna, based on the following information, is A) $8,000.
What is the adjusted cash balance?The adjusted cash balance is the difference between the ending cash balance as per the general ledger and transactions captured in the bank statement but not recorded in the general ledger.
Some of the items used for adjusting the cash balance during bank reconciliations include:
Bank chargesNSF checks returnedDirect credits and debits.Bank statement ending cash balance = $6,000
General ledger cash balance ending = $8,500
Bank monthly service charge $90
Deposits in transit $5,000
Outstanding checks $3,000
NSF check returned with bank statement $410
Adjusted Cash Balance:General ledger cash balance ending = $8,500
Bank monthly service charge ($90)
NSF check returned with bank statement ($410)
Adjusted cash balance = $8,000
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Business around the globle came to a complete stop in March 2020 when it became clear that COVID-19 had spread across the globe in a manner that no one ever really thought possible.
Not all businesses were impacted the same, as grocery stores remained open, but airlines, restaurants, hair salons, gyms, and many others were forced to close. Read the following article and look around to the businesses that you visit and think about how they were forced to change in the face of the global crises.
Startups Hit Hard By Coronavirus Shutdowns – McGraw-Hill Introduction to Business
Requirements:
1. You must post a discussion thread highlighting your thoughts on the topic and addressing the questions below.
2. You must then comment on a peers post discussing their opinions in a respectful manner.
I am looking for robust posts. A one word answer is not acceptable.
Discussion Topics:
1. How has the COVID-19 crisis impacted the businesses around you?
2. What are some of the business decisions companies have had to make in the face of COVID-19?
3. Why will some business recover and others fail in the face of all the changes of the past year?
4. Why are small businesses and startups especially vulnerable during times of economic crisis?
5. What are some things a business can do to make itself more resiliant in the face of external changes?
Explanation:
1. The COVID-19 crisis has impacted the businesses around me greatly. Many small businesses in my community have closed their doors permanently due to the economic struggles caused by the pandemic. Restaurants have had to adjust to take-out and delivery only and some have had to close altogether. Grocery stores have had to limit the number of people allowed inside and have had to enforce mask mandates. Overall, it seems that businesses have had to adjust their operations to reflect the reality of the pandemic.
2. Companies have had to make a lot of difficult decisions in the face of COVID-19. Many have had to lay off workers or furlough them in order to cut costs. Some have had to pivot their business models entirely, such as restaurants that switched to take-out only or clothing manufacturers that started making masks. Others have had to invest in new equipment and technology to keep their employees and customers safe, such as installing plexiglass barriers or implementing touchless payments.
3. Some businesses will recover and others will fail in the face of all the changes of the past year because of a variety of factors. Businesses that were already struggling before the pandemic hit may find it difficult to bounce back. Additionally, businesses that rely heavily on in-person interactions or gatherings, such as theme parks or concert venues, may struggle to recover as long as social distancing measures are still in place. Finally, businesses that are able to adapt and pivot quickly to meet changing consumer needs may have a better chance at survival.
4. Small businesses and startups are especially vulnerable during times of economic crisis because they often lack the financial resources of larger, more established companies. They may not have access to the same government subsidies or loans, and may not have the same level of brand recognition or customer loyalty.
5. One thing a business can do to make itself more resilient in the face of external changes is to diversify its revenue streams. This could mean expanding into new markets or product lines, or investing in digital technologies to allow for more online sales. Additionally, businesses can prioritize building strong relationships with their customers, as loyal customers are more likely to stick around during tough times. Finally, businesses can be proactive about risk management, such as by investing in insurance or developing contingency plans for unexpected events.
Comment on a Peer's Post:
I agree with your post about businesses having to adjust their operations depending on the pandemic. My gym was closed for a while, but when it reopened, they had to implement strict sanitation protocols and limited the number of people allowed in at once. I think being adaptable is key for businesses to survive during this time. As for small businesses and startups being vulnerable, I think it's important for the government to provide support for these types of businesses during times of crisis, as they often make up a significant portion of the economy.
Hopes this helps
Assume the following budgeted information for a merchandising company:
Budgeted sales (all on credit) for November, December, and January are $258,000, $228,000, and $219,000, respectively.
Cash collections of credit sales are expected to be 70% in the month of sale and 30% in the month following the sale.
The cost of goods sold is always 70% of sales.
Each month’s ending inventory equals 20% of the next month’s cost of goods sold.
40% of each month’s merchandise purchases are paid in the current month and the remainder is paid in the following month.
Monthly selling and administrative expenses that are paid in cash in the month incurred a total of $30,000.
The monthly depreciation expense is $29,500.
(The expected cash collections from customers in December are:)
A. $266,900.
B. $237,000.
C. $243,780.
D. $225,300.
To calculate the expected cash collections from customers in December, we need to first calculate the total credit sales for each month, the cash collections for each month, and the accounts receivable balance for November and December.
Total credit sales for November = $258,000
Total credit sales for December = $228,000
Total credit sales for January = $219,000
Cash collections for November sales:
70% * $258,000 = $180,600
Cash collections for December sales:
70% * $228,000 = $159,600
30% * $258,000 = $77,400
Total cash collections for December = $159,600 + $77,400 = $237,000
Cash collections for January sales:
70% * $219,000 = $153,300
30% * $228,000 = $68,400
Total cash collections for January = $153,300 + $68,400 = $221,700
Next, we need to calculate the accounts receivable balance for November and December:
Accounts receivable balance for November:
$258,000 * 30% = $77,400 (not collected in November)
Accounts receivable balance for December:
$228,000 * 30% = $68,400 (not collected in December) + $77,400 (from November) - $159,600 (collected in December) = $-13,800 (this is a credit balance, which means that there is an excess of cash collections from November sales)
Since the question is asking for the expected cash collections from customers in December, the answer is
B. $237,000.
The expected cash collections from customers in December are $243,780. Final expected cash collections from customers in December = $340,200 - $77,400 = $262,800. The answer is OPTION C,
To calculate the expected cash collections from customers in December, we need to consider the cash collections of credit sales for November and December.
For November's credit sales:
Cash collections = November sales * Cash collection rate for the month of sale
Cash collections = $258,000 * 70% = $180,600
For December's credit sales:
Cash collections = December sales * Cash collection rate for the month of sale
Cash collections = $228,000 * 70% = $159,600
Total expected cash collections in December = Cash collections from November + Cash collections from December
Total expected cash collections in December = $180,600 + $159,600 = $340,200
However, we also need to account for the fact that 30% of November's sales will be collected in December:
Additional cash collections = November sales * Cash collection rate for the month following the sale
Additional cash collections = $258,000 * 30% = $77,400
Final expected cash collections from customers in December = Total expected cash collections - Additional cash collections
Final expected cash collections from customers in December = $340,200 - $77,400 = $262,800
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Why might using a formal decision-making process make sense for a person trying to choose between a career as a radiology technician and a doctor?
A.
It provides a “plan B” profession in case they don’t succeed in their first choice.
B.
It provides a solid plan for taking graduate-level courses to do either career.
C.
It will help them create short-term and mid-term goals to achieve either long-term goal.
D.
It can help them research the careers and weigh the options to make the best choice for them.
The correct option is D. Using a formal decision-making process can help a person research the careers of a radiology technician and a doctor and weigh the options to make the best choice for them.
Choosing a career is a significant decision that can have a significant impact on a person's life. Using a formal decision-making process can help individuals assess their strengths, interests, and values to determine which career is the best fit for them.By researching both professions, individuals can gain a better understanding of the education and training required, job responsibilities, salary expectations, and job outlook. This information can help individuals weigh the pros and cons of each career and make an informed decision.Using a formal decision-making process can also help individuals create short-term and mid-term goals to achieve their long-term career goals.
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Question 15 of 20
Which information in the accounts payable subsidiary journal is entered after
the amount of credit or debit?
A. the terms of the sale
B. the date
C. the name of the vendor
OD. the balance
SUBMIT
Answer:
credit entry
Explanation:
The accounts payable subsidiary ledger is a breakdown of the total amount of payables listed on the general ledger. In other words, the subsidiary ledger contains the individual payables owed to each of the suppliers and vendors, as well as the amounts owed.
When recording an account payable, debit the asset or expense account to which a purchase relates and credit the accounts payable account. When an account payable is paid, debit accounts payable and credit cash. Payroll entry.
The accounts payable subsidiary ledger provides detailed information about amounts owed to creditors.
The total of the individual account balances in the accounts receivable subsidiary ledger should agree with the total of the individual account balances in the accounts payable subsidiary ledger.
Business Statistics
Please refer attached. Answer all questions
1) The standard deviation for the given data is 2.91 minutes.
2) The mean speed of the cars is 74.75 km/h, which represents the average speed of all the cars that passed through the toll booth. The median speed is 75-79 km/h, which is the speed that divides the speed data into two equal halves. The mode speed is also 75-79 km/h, which is the most frequently occurring speed.
What is the explanation for the above response?
1) To find the standard deviation, we need to follow these steps:
Find the mean:
Calculate the deviation from the mean for each valueSquare each deviation from the meanFind the sum of the squared deviationsDivide the sum by the number of values minus oneTake the square root of the resultUsing this formula, we get:
Mean = (2*7 + 7*12 + 9*17 + 3*22)/20 = 14.9
Deviation from the mean:
5-9: -9.9
10-14: -2.9
15-19: 2.1
20-24: 7.1
Squared deviation from the mean:
5-9: 98.01
10-14: 8.41
15-19: 4.41
20-24: 50.41
Sum of squared deviations: 161.24
Variance = 161.24 / 19 = 8.49
Standard deviation = √(8.49) = 2.91
Therefore, the standard deviation for the given data is 2.91 minutes.
2) To find the mean, we need to multiply each speed value by its corresponding frequency, add up the products, and then divide by the total frequency. Using this formula, we get:
Mean = (8*62 + 14*67 + 18*72 + 40*77 + 30*82 + 10*87)/120
= 74.75
Therefore, the mean speed of the cars is 74.75 km/h.
To find the median, we need to arrange the speed values in order and find the middle value. If there are an even number of values, we take the average of the two middle values. Using this method, we get:
Arranged speeds: 60-64, 60-64, 60-64, 60-64, 60-64, 60-64, 60-64, 60-64,
65-69, 65-69, 65-69, 65-69, 65-69, 65-69, 65-69, 65-69, 65-69, 65-69,
70-74, 70-74, 70-74, 70-74, 70-74, 70-74, 70-74, 70-74, 70-74, 70-74,
75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79, 75-79,
80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84, 80-84,
85-89, 85-89, 85-89, 85-89, 85-89, 85-89,
Median = 75-79
Therefore, the median speed of the cars is 75-79 km/h.
c)
To find the mode, we need to identify the speed value that occurs most frequently. Using this method, we get:
Mode = 75-79
Therefore, the mode speed of the cars is 75-79 km/h.
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Assume a merchandising company provides the following information from its master budget for the month of May:
Sales $ 118,000
Cost of goods sold $ 94,000
Selling and administrative expenses $ 28,000
Accounts receivable, May 1st $ 17,000
Accounts receivable, May 31st $ 23,000
If all of the company’s sales are on account, what is the amount of cash collections from customers included in the cash budget for May?
Answer:$129,000
Explanation:
Beginning accounts receivable: $17,000
Ending accounts receivable: $23,000
Increase in accounts receivable: $23,000 - $17,000 = $6,000
Cash collections from customers = Credit sales - Increase in accounts receivable + Beginning accounts receivable
Cash collections from customers = $118,000 - $6,000 + $17,000
Cash collections from customers = $129,000
Laila would like to have a high salary to be able to help her family and afford to travel. Where might she work as a civil engineer to earn the highest average wage?
A.
international energy sector
B.
private architecture firm
C.
nonresidential building construction
D.
US federal government
The answer is, If Laila would like to have a high salary to be able to help her family and afford to travel, she should work at nonresidential building construction as a civil engineer to earn the highest average wage.
Therefore the correct answer is C. nonresidential building construction.
What exactly does a civil engineer do?Roads, trains, tunnels, and other structures are designed and constructed by civil engineers. Large buildings and intricate constructions like multi-story parking garages, train stations, stadiums, hospitals, and airports are designed and constructed by them.
Is a profession in civil engineering worthwhile?If you're looking for a career in an engineering profession that is expanding and has a high earning potential, civil engineering is a fantastic choice. More civil engineers are needed as cities expand to design and oversee public works initiatives and replace deteriorating infrastructure.
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You manage a small women’s clothing store and need to hire an assistant manager. How would you recruit and select the most effective candidate?
Recruiting and selecting an assistant manager for a small women's clothing store requires a thoughtful and strategic approach.
Here are some steps that can be taken to attract and hire the most effective candidate:
Define the job role: Clearly define the job role and responsibilities of the assistant manager. This will help in identifying the required skills, qualifications, and experience necessary for the role.
Create a job description: Based on the defined job role, create a comprehensive job description that highlights the job responsibilities, required skills, qualifications, and experience. The job description should also outline the compensation package, work schedule, and other benefits.
Advertise the job opening: Advertise the job opening in relevant channels such as online job portals, local newspapers, industry-specific publications, and social media. You may also consider reaching out to your network and asking for referrals.
Screen resumes: Review resumes and cover letters to shortlist candidates who meet the minimum requirements for the role.
Conduct initial interviews: Conduct initial interviews to further screen the candidates and assess their communication skills, experience, and qualifications. Use behavioral interview questions to understand their past performance and behavior in similar roles.
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You have been placed in charge of the closing process for Magnolia Tree Services for the period ending December 31. Time is short, and you must delegate the closing tasks to three bookkeepers in your department. For your initial post, write an email to your co-workers (Sally, Jim and Jan), assigning each of them specific tasks to complete by the end of the week. In the email list the required closing tasks and identify which employee is responsible for each task. Make sure that your co-workers understand the order of the tasks they are to perform.
Dear Sally, Jim, and Jan,
I hope this email finds you all well. As you know, we need to complete the closing process for Magnolia Tree Services for the period ending December 31. Time is of the essence, and I'm assigning specific tasks to each of you to ensure we can complete the process by the end of the week. Please find your respective tasks below, along with the order in which they should be performed.
Sally:
1. Review and reconcile all general ledger accounts for accuracy and completeness.
2. Adjust the accounts for any necessary accruals, deferrals, or reclassifications.
3. Prepare and post all adjusting journal entries.
Jim:
1. After Sally has completed her tasks, verify the accuracy of the trial balance.
2. Prepare the financial statements, including the balance sheet, income statement, and statement of cash flows.
3. Review the financial statements for any discrepancies and communicate with Sally if any adjustments are needed.
Jan:
1. Once Jim has finalized the financial statements, close the temporary accounts (revenue, expense, and dividend accounts) by transferring their balances to the retained earnings account.
2. Prepare and post closing journal entries.
3. Prepare the post-closing trial balance to ensure all temporary accounts have a zero balance.
Please ensure that you complete your tasks in the order listed above, as each task relies on the successful completion of the previous tasks. If you encounter any issues or need clarification, don't hesitate to reach out to me or your colleagues. Let's work together to complete the closing process by the end of the week.
Thank you for your dedication and hard work. I appreciate your cooperation and timely completion of these tasks.
Best regards