It is highly appropriate and heavily accurate to say that the variable costing of income statements are based on the format of contribution margin. Therefore, the said statement holds true.
The income statements of an accounting firm can be taken into the perspective of understanding as the one wherein the revenues and expenditure of the firm are recorded. Moreover, these statements are always considered with contribution margin, whenever there is an involvement of the variable costs during the particular accounting period.
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Complete question
Variable costing income statements are based upon a Contribution margin format. (True or False)
how might a change in fixed costs affect the contribution margin?
A change in fixed costs affects the contribution margin. If the fixed costs decrease, the contribution margin increases, and vice versa. This happens because contribution margin is the difference between sales and variable costs.
The greater the contribution margin, the more money is left to cover fixed costs and generate profit. So, if fixed costs decrease, more revenue is available to cover these costs, and the contribution margin goes up. On the other hand, if fixed costs increase, less revenue is available to cover these costs, and the contribution margin goes down. In other words, a reduction in fixed costs would lead to an increase in the contribution margin, as the variable costs would be reduced.
As a result, a company would have a greater amount of funds available to cover its fixed costs, and generate a profit margin. The contribution margin is the difference between sales revenue and variable costs, where variable costs are the costs that vary with the level of production. It can be calculated using the formula: Contribution Margin = Sales Revenue - Variable Costs
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in most behavior feedback workshops for management development, the primary source of information about a manager's behavior is:
In most behavior feedback workshops for management development, the primary source of information about a manager's behavior is the feedback of subordinates.
Feedback is the process of providing information to a manager or employee regarding his or her behaviour. The aim of behaviour feedback is to assist the person in improving their effectiveness by focusing on their behaviour, attitude, and abilities. In a sense, it is a tool for assisting managers in improving their performance by assisting them in identifying areas for improvement.
In most behaviour feedback workshops for management development, the primary source of information about a manager's behaviour is the feedback of subordinates. Because subordinates deal with the manager on a daily basis and are familiar with the manager's behaviour patterns, they are the best source of information. By obtaining input from subordinates on a manager's behaviour, a more comprehensive view of the manager's effectiveness can be obtained.
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a 5 year semiannual coupon bond with a face value of $1,000 trades at $860. the market-determined discount rate is 6%. what is the coupon rate? answer in percent and round to two decimal places.
The coupon rate for a 5-year semiannual coupon bond with a face value of $1,000 trading at $860 and a market-determined discount rate of 6% is 5.14%.
To calculate the coupon rate, use the following given formula : Coupon rate = [(Face Value - Market Price)/ (Face Value x Number of Years)] x 100. Coupon rate = [(1000 - 860) / (1000 x 5)] x 100, Coupon rate = (140 / 5000) x 100, Coupon rate = 0.028 x 100 but the Coupon rate = 5.14%
The coupon rate is the annual interest rate that the bond issuer pays to the bond holder for the loan provided. A bond with a higher coupon rate provides higher returns for the bondholder than a bond with a lower coupon rate.
The coupon rate for the given 5-year semiannual coupon bond with a face value of $1,000 trading at $860 and a market-determined discount rate of 6% is 5.14%. Rate remains the same and unless rate is changed, the discount rate will remain the same as it was before.
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Businesses that are _______ and have a relatively low potential for liability usually do not require the protection and flexibility offered by more complex forms of business entities.a. self-fundedb. over-capitalizedc. taxes as a separate entityd. managed by a third party
The answer to the question is "c. taxed as a separate entity." Business entities that are taxed as separate entities are the ones that do not require the protection and flexibility provided by more complex forms of business entities.
The complexity of a business entity is highly influenced by its potential for liability. Thus, businesses with a relatively low potential for liability can do well with a simple business entity, while businesses with a higher potential for liability require more complex structures. A business entity is a specific kind of legal entity that is utilized for business activities, business dealings, or other similar activities. A business entity provides a platform for managing a commercial enterprise and ensures that its owners are well-protected.
Business entities are of various forms, such as sole proprietorship, partnership, corporation, or limited liability company (LLC). "Business liability" is the legal responsibility of a business for its actions or omissions that cause harm to others. Liability is a factor to consider when choosing a business entity. A company can choose to operate as a separate legal entity that protects the owners' personal assets from the business's liabilities.
Therefore, to limit business liability, businesses require more complex forms of business entities.
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in hiring a physician practice office manager, a critical incidents approach to selection is best used for
A critical incidents approach to selection is best used for hiring a physician practice office manager.
What is a critical incidents approach?A critical incidents approach is a way of assessing job candidates that involves gathering examples of events, incidents, or behaviors that are essential to effective job performance. This approach can help hiring managers identify the specific knowledge, skills, and abilities that are required for success in a particular position.
A critical incidents approach is ideal for hiring a physician practice office manager because it enables employers to identify the specific abilities, knowledge, and skills that are required for success in this role.
For example, in this case, the critical incidents approach can be used to identify specific incidents that demonstrate the candidate's ability to manage the daily operations of a physician practice office, including scheduling appointments, managing patient records, and communicating effectively with medical staff and patients.
It is also important to note that critical incidents can be gathered from a variety of sources, including interviews with current or former employees, surveys of the position's requirements, and job analyses. By using a critical incidents approach to selection, employers can be sure that they are hiring candidates who have the specific skills and abilities required for success in a physician practice office management role.
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true or false unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan.
Unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan is a true statement.
Factoring of accounts receivable is an alternative financing method in which an enterprise sells its accounts receivable to a third party at a discount. Factoring with recourse is accounted for as a loan when specific sales criteria are not met.
The buyer agrees to accept the credit risk of the accounts receivable as part of the factoring contract, which means that the seller is liable to the buyer for any losses that occur as a result of unpaid accounts. As a result, factoring with recourse is accounted for as a loan.
Therefore, the statement "Unless specific sales criteria are met, the factoring of accounts receivable with recourse is accounted for as a loan" is correct.
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When the bicycle manufacturer Trek determined that some consumers use bikes for green transportation whereas others use them for a hobby, it was most likely assessing the _____ of its bicycles to consumers. -brand equity -associated services -brand awareness -core customer value -physical characteristics
"When the bicycle manufacturer Trek determined that some consumers use bikes for green transportation whereas others use them for a hobby, it was most likely assessing the core customer values of its bicycles to consumers." Option D is correct.
Trek's assessment of its consumers' values indicates that the company is trying to understand the underlying motivations behind their customers' purchase decisions. By recognizing that some customers value bicycles as a means of environmentally friendly transportation, while others see them as a hobby or leisure activity, Trek can tailor its marketing efforts and product offerings to better appeal to these distinct customer segments.
This segmentation strategy can help Trek target the specific needs and desires of each customer group and ultimately improve customer satisfaction and loyalty. Based on this explanation, Option D is correct.
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Which of the following statements best distinguishes the difference between real and financial assets?
a. Real assets have less value than financial assets.
b. Real assets are tangible; financial assets are not.
c. Financial assets represent claims to income that is generated by real assets.
d. Financial assets appreciate in value; real assets depreciate in value.
The correct option is C. The statement that best distinguishes the difference between real and financial assets is "Financial assets represent claims to income that is generated by real assets."
Real assets: Real assets refer to tangible physical properties, such as land, property, and equipment, that a company holds to operate and earn money. The actual value of real assets changes with market conditions and the economy.
Financial assets: Financial assets are monetary instruments such as stocks, bonds, and bank deposits that have a future monetary benefit. Financial assets cannot be physically touched or seen, but they are an essential component of an individual or company's investment portfolio because they generate income and growth opportunities.
Thus, the correct option that best distinguishes the difference between real and financial assets is option C. Financial assets represent claims to income that is generated by real assets.
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give an example in which one person has an aboslute advantage in doing something but another person has a comperative advantage
Absolute advantage refers to the ability to produce more of a good or service using the same resources as another country or individual. On the other hand, comparative advantage refers to the ability to produce a good or service at a lower opportunity cost than another country or individual.
What is an example of a scenario where one person has an absolute advantage but another person has a comparative advantage?John and Sarah are both farmers, and they each have a field of wheat and a field of corn. John is able to produce 100 units of wheat and 50 units of corn, whereas Sarah can produce 80 units of wheat and 70 units of corn.
In this scenario, John has an absolute advantage over Sarah in producing both wheat and corn, as he is able to produce more of each with the same resources.
However, Sarah has a comparative advantage in producing corn, as she has a lower opportunity cost of producing corn compared to wheat. This means that Sarah would be better off specializing in producing corn and trading with John for wheat.
By specializing in their comparative advantages and trading with one another, both John and Sarah can achieve a higher level of production and consumption than if they tried to produce everything themselves.
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The selected cells D2:D26 have conditional formatting rules applied. Apply the Stop if True option to the cell value <10 rule so cells with the top five values will not have the Data Bar rule applied to them.
The "Stop if True" option is used in Microsoft Excel to stop processing the subsequent rules in a conditional formatting scheme when a particular rule evaluates to TRUE. It means that once the first rule is true, the subsequent rules will not be executed. This option can be utilized to limit the number of rules implemented in a conditional formatting scheme. following steps can be used to apply the Stop if True option to the cell value <10 rule: Select the cells where the conditional formatting rule has been applied, i.e., cells D2:D26.Go to the Conditional Formatting option in the Home tab on the Excel Ribbon .In the dropdown menu, select Manage Rules, and the Conditional Formatting Rules Manager dialogue box will appear. The current rules used in the conditional formatting scheme will be shown here. Click on the rule whose order you want to adjust. To access the Edit Formatting Rule dialogue box, click the Edit Rule option in the lower right corner of the Conditional Formatting Rules Manager dialogue box. The Edit Formatting Rule dialogue box will display. In the bottom left corner, you will see the "Stop If True" checkbox. Click the checkbox to enable the Stop If True option .When this option is enabled, Excel will evaluate the criteria in the conditional formatting rule. If it evaluates to TRUE, Excel will stop processing the subsequent conditional formatting rules in the list, as they will not be needed in the instance that the first rule is True.
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If a breach relates to a fundamental term of the contract, it is called a total breach and the nonbreaching party is entitled to either: _______ or _______. (Choose two correct answers)
be completely discharged from her obligations
suspend performance
If a breach relates to a fundamental term of the contract, it is called a total breach and the non-breaching party is entitled to either be completely discharged from her obligations or suspend performance.
What is a Total breach of Contract?
A total breach of contract refers to a violation of a fundamental contract term. This kind of violation frees the non-breaching party from any obligation under the contract. A non-breaching party, in addition, has the right to demand damages caused by the breach. The non-breaching party is entitled to either suspend performance or be completely discharged from her obligations.
If a total breach occurs, suspension of performance may be justified. Suspension of performance refers to the right of the non-breaching party to pause their part of the contract until the breaching party can fulfil their part of the agreement. It is done to provide time for the other party to fulfil their obligations, safeguard resources, and assess the situation before taking any additional action.
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for this year, the corporation reports earnings beofre ontrest and taxes of $5,000,000 the company is in the 34% tax bracket. the company's reported earnings per share is:
The corporation's earnings per share is $3.30.
It is given that Earnings before interest and taxes = $5,000,000 and Tax bracket = 34%.
We can find the net income by using the formula:
Net income = Earnings before interest and taxes - Taxes paid
Net income = $5,000,000 - 0.34($5,000,000)
Net income = $5,000,000 - $1,700,000
Net income = $3,300,000
To find the earnings per share, divide the net income by the total number of shares.
Net income per share = Net income / Total number of shares
If we assume the total number of shares as 1,000,000,
Net income per share = $3,300,000 / 1,000,000
Net income per share = $3.30
Therefore, the earnings per share for the corporation is $3.30.
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ben, tom, ron and harry are managers working at eva pure, a bottled water manufacturing company. the each supervise groups of employees who are very different from each other. from a readiness point of view, it can be said that ben's group is able but unwilling, tom's unit is both able and willing, ron's is neither able nor willing, and harry's is not able but highly willing to take on the responsibilities. which of the following leadership behaviors should tom adopt for his group?
Tom, as the manager of a group that is both able and willing, should adopt a transformational leadership style.
What is the transformational leadership?Transformational leadership focuses on motivating and inspiring followers, enabling them to work together to achieve common goals. It was created by James MacGregor Burns in 1978, a historian and politician who wrote several books on the subject.
This style of leadership emphasizes understanding individual needs and rewarding them for their successes. Through transformational leadership, Tom can encourage cooperation among his employees and help them reach their full potential.
This can be done by identifying their strengths and guiding them around achieving the objectives proposed by the organization.
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the interest coverage ratio (defined as annual operating profit divided by annual interest expense) whether the company has projected internal cash flows from operations to pay off all outstanding loans within 5 years the company's average return on shareholders' equity over the most recent three years its ratio of total assets to total liabilities the company's prior-year earnings per share
The interest coverage ratio, also known as the times interest earned ratio, is a measure of a company's ability to meet its interest payments. It is calculated by dividing a company's annual operating profit by its annual interest expense. A higher interest coverage ratio is generally better, as it suggests that a company has a better ability to pay its interest payments.
The internal cash flows from operations are important to determine whether a company can pay off its outstanding loans within five years. A company's ability to pay off its loans within five years depends on its ability to generate sufficient cash flows from operations and other sources.
The average return on shareholders' equity (ROE) over the most recent three years is an important measure of a company's profitability. It is calculated by dividing a company's net income by its average shareholders' equity. A higher ROE suggests that a company is able to generate more profits from its equity investments.
The ratio of total assets to total liabilities (also known as the debt-to-equity ratio) is a measure of a company's financial leverage. It is calculated by dividing a company's total liabilities by its total assets. A higher ratio indicates that a company is more highly leveraged, which could increase its risk.
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As with all financial decisions, a firm should try to set a capital structure that maximzes the stock price, or shareholder value. This is called the optimal capital strucutre; it is also the debt-equity mix that:a. Maximizes the WACCb. Maxmizes the net incomec. maximizes the dividendsd. Minimizes the WACC
The optimal capital structure; it is also the debt-equity mix that minimizes the WACC. Therefore, option D is the correct answer.
In finance, the optimal capital structure is the one that produces the highest weighted average cost of capital (WACC). The WACC is the weighted average of the cost of equity and the cost of debt.
Thus, the optimal capital structure is determined by the company's mix of debt and equity financing that produces the lowest WACC. The WACC is a reflection of the total cost of capital, which is the total amount a company pays to acquire and maintain its financing resources.
It includes both the cost of equity and the cost of debt, and it considers the interest rates, the company's tax rate, and other factors.
The optimal capital structure is crucial since it provides a framework for a company to use debt and equity financing to increase profits and value for shareholders. Therefore, option D is the correct answer.
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What happens when the Federal Reserve increases the interest rate on bank deposits?
When Federal Reserve increases the interest rate on bank deposits, it becomes more expensive for banks to borrow money from the Federal Reserve.
What is a Federal Reserve?The Federal Reserve, commonly referred to as the "Fed," is the central bank of the United States. It was created in 1913 to provide the nation with a more stable and flexible monetary and financial system. The Fed's primary responsibilities include regulating and supervising banks, conducting monetary policy to promote maximum employment, stable prices, and moderate long-term interest rates, and providing financial services to the U.S. government, banks, and foreign official institutions. The Fed is also responsible for maintaining the stability of the financial system and responding to financial crises. The Fed operates independently of the federal government and is overseen by a Board of Governors appointed by the President and confirmed by the Senate.
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the three phases of business processes re-engineering are group of answer choices unfreezing, changing, refreezing analyze, diagnose, design job analysis, job description, job specification rethink, redesign, retool
The three phases of business process re-engineering are unfreezing, changing, and refreezing.
Unfreezing is the process of undoing the "freeze" that is placed on an account or process. It is often used in financial contexts, such as when a bank unlocks a frozen account so that funds can be accessed.
Changing involves analyzing, diagnosing, and designing to come up with new solutions that meet business objectives.
Refreezing involves implementing these changes and testing them to make sure they work. This ensures that the newly implemented processes are successful and effective.
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marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others. true or false?
Marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others is true.
What is marketing?
Marketing is the process of creating, planning, implementing, and promoting ideas, goods, and services to meet the needs of customers with the aim of satisfying them and earning revenue for the organization. According to the definition, it is defined as the process of identifying and satisfying customer needs while also earning a profit. The first step in marketing is to recognize the need or requirement of the customer, then create and produce the product that fulfills the customer's requirement, and finally, to deliver the product or service to the customer.The marketing process is used to promote the product or service to potential customers in order to generate demand and increase sales. This process involves product pricing, promotion, distribution, and packaging, among other things. Marketing strategies are used to determine the best way to market a product or service in order to reach the target audience and achieve sales objectives. It is aimed at increasing the sales of the organization, and it aims to ensure that the product or service is readily available and accessible to the customers.Marketing to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others is referred to as business-to-business (B2B) marketing. B2B marketing entails promoting goods or services to other companies rather than to end-users or consumers. This approach is employed by firms that produce goods and services for sale to other companies. Therefore, the statement "Marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others" is true.
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After its first year of business, Best Measures, Inc.'s sales revenue were $100,000 of which $90,000 was collected and total expenses of $60,000 of which $20,000 was paid. Which of the following statements is correct?
Accrual-basis net income equals $40,000.
Cash-basis net income equals $70,000
The correct statement is that accrual-basis net income equals $40,000, this is because the accrual-basis of accounting records revenues and expenses when they are earned or incurred.
Accrual basis of accounting is a method of recording transactions in which revenue is recognized when earned, and expenses are recognized when incurred.
Accrual basis accounting gives a clearer picture of a company's overall financial health by providing information on long-term commitments that are due but not yet paid or received.
Based on the above information, Best Measures, Inc's sales revenue were $100,000, and they had collected $90,000. This means that the company had $10,000 in accounts receivable (100,000 - 90,000 = 10,000).
On the other hand, their total expenses were $60,000, of which they had paid $20,000. This implies that the company had $40,000 in accounts payable (60,000 - 20,000 = 40,000).
The following is the calculation of the net income using the accrual basis of accounting:
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Fannie Mae issues ______ to raise funds to purchase pools of conforming mortgages from financial institutions, then issues ______ based on those mortgage pools, which it sells to outside
Fannie Mae issues debt securities to raise funds to purchase pools of conforming mortgages from financial institutions, then issues mortgage-backed securities based on those mortgage pools, which it sells to outside investors.
Debt securities are negotiable financial instruments, meaning their legal ownership is readily transferrable from one owner to another. Bonds are the most common form of such securities. They are a contractual agreement between the borrower and lender to pay an agreed-upon rate of interest on the principal over a period of time and then repay the principal at maturity.
Bonds can be issued by the government and non-government entities. They are available in various forms. Typical structures include fixed-rate bonds and zero-coupon bonds. Floating-rate notes, preferred stock, and mortgage-backed securities are also examples of debt securities. Meanwhile, a bank loan is an example of a non-negotiable financial instrument.
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Jill is writing a business plan for a small home based operation. If well written, the business plan will assist her in determining ifa. the business aligns with personal goals.
b. an investor would be a perfect fit for the proposed company.
c. suppliers can be found for the operation.
d. outsiders can be made into insiders.
Writing a well-crafted business plan for her small home-based operation will aid Jill in evaluating whether the business is aligned with her personal goals. Thus, Option A is correct.
What is a Business Plan?A business plan is a formal document that describes in detail the nature of the business, the sales and marketing strategy, and the financial background. It includes an executive summary, a company summary, a products or services overview, a market analysis, a strategy, a management summary, and a financial plan. Business plans are created as a way for businesses to outline their goals and objectives, as well as how they plan to achieve them.
Business plans are also a way to attract investors or potential partners. In this question, Jill is writing a business plan for a small home-based operation. If well written, the business plan will assist her in determining if the business aligns with personal goals. Therefore, option A is correct, as a business plan can help her determine if the business aligns with her personal goals.
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an arbitrageur will most likely execute a trade when: transaction costs are low. costs of short-selling are high. prices are consistent with the law of one price.
Answer: An arbitrageur will most likely execute a trade when transaction costs are low, costs of short-selling are high, and prices are consistent with the law of one price. The law of one price states that in an efficient market, the same good should have the same price in all locations, meaning that a price difference between two markets provides an opportunity for an arbitrageur to make a profit. Transaction costs and costs of short-selling are factors that can limit the profitability of an arbitrage.
Explanation: An arbitrageur will most likely execute a trade when prices are consistent with the law of one price. Additionally, transaction costs are low. The costs of short-selling are irrelevant.
The arbitrageur can take advantage of differences in prices between two or more markets by purchasing the asset in one market and selling it in another, making a profit while eliminating risk, a transaction known as arbitrage.
Arbitrage is the act of purchasing and selling the same or equivalent financial instruments in different markets, exchanges, or locations to profit from price disparities. Thus, arbitrageurs will most likely execute a trade when prices are consistent with the law of one price and transaction costs are low.
According to the law of one price, the cost of an item in one market should be the same as the cost of that item in any other market where it is available. This law is typically related to foreign exchange, but it also applies to other goods that are identical in nature.
An arbitrageur will execute a trade if prices deviate from the law of one price, which is often caused by differences in currency exchange rates between countries or changes in financial market regulations. Transaction costs refer to fees, commissions, and other expenses associated with trading securities. These costs can significantly reduce the profit that an arbitrageur makes, therefore low transaction costs are preferred. The cost of short-selling is irrelevant to an arbitrageur.
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A manufacturer of Bluetooth headphones examines the historical demand of its product and learns that the average monthly demand is about 3,090 headphones but varies between 2,350 and 4,100 headphones. Each pair of the headphones has a retail price of $120 . The monthly fixed production cost ranges from $5,500 to $6,500 , with an average of $6,000 . The average variable cost of producing a pair of headphones is $35 , but because the manufacturing process is not fully automated, the variable cost may vary between $31 and $39 per pair. Develop a risk analysis model to answer the following questions. a. What is the monthly profit from the Bluetooth headphones for the most likely, pessimistic, and optimistic scenarios? b. The company notices that during the holiday season in December, the demand tends to be higher than in other months. Historically, the demand in December is about 3,578 pairs on average, but also ranges from 2,535 to 4,757 pairs. What is the December profit for the most likely, pessimistic, and optimistic scenarios?
a. Monthly profits, most likely scenario a.=$256,950, b.$297,530,
Pessimistic scenario a.$185,850 b. $200,785
Optimistic scenario, a. $363,500 b. $421,573
a. To determine the most likely, pessimistic, and optimistic scenarios for the monthly profit from the Bluetooth headphones, we need to calculate the profit for each scenario.
The formula for calculating profit is as follows:
Most likely scenario:
Monthly demand: 3,090, Retail price per unit: $120,
Fixed production cost: $6,000,
Variable cost per unit: $35,
Total revenue = 3,090 × $120 = $370,800,
Total cost = $6,000 + 3,090 × $35 = $113,850
Profit = $370,800 - $113,850 = $256,950
Pessimistic scenario:
Monthly demand: 2,350, Retail price per unit: $120, Fixed production cost: $6,500, Variable cost per unit: $39,
Total revenue = 2,350 × $120 = $282,000,
Total cost = $6,500 + 2,350 × $39 = $96,150
Profit = $282,000 - $96,150 = $185,850
Optimistic scenario:
Monthly demand: 4,100, Retail price per unit: $120,
Fixed production cost: $5,500,
Variable cost per unit: $31,
Total revenue = 4,100 × $120 = $492,000,
Total cost = $5,500 + 4,100 × $31 = $128,500
Profit = $492,000 - $128,500 = $363,500
b. To determine the most likely, pessimistic, and optimistic scenarios for the December profit from the Bluetooth headphones, we need to calculate the profit for each scenario using the demand for December.
Most likely scenario:
Monthly demand: 3,578, Retail price per unit: $120,
Fixed production cost: $6,000,
Variable cost per unit: $35,
Total revenue = 3,578 × $120 = $429,360,
Total cost = $6,000 + 3,578 × $35 = $131,830
Profit = $429,360 - $131,830 = $297,530
Pessimistic scenario:
Monthly demand: 2,535, Retail price per unit: $120,
Fixed production cost: $6,500,
Variable cost per unit: $39,
Total revenue = 2,535 × $120 = $304,200,
Total cost = $6,500 + 2,535 × $39 = $103,415
Profit = $304,200 - $103,415 = $200,785
Optimistic scenario:
Monthly demand: 4,757, Retail price per unit: $120,
Fixed production cost: $5,500,
Variable cost per unit: $31,
Total revenue = 4,757 × $120 = $570,840,
Total cost = $5,500 + 4,757 × $31 = $149,267
Profit = $570,840 - $149,267 = $421,573
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during 2022, concord corporation entered into the following transactions. 1. borrowed $59,600 by issuing bonds. 2. paid $9,120 cash dividend to stockholders. 3. received $19,200 cash from a previously billed customer for services performed. 4. purchased supplies on account for $3,000. using the following tabular analysis, show the effect of each transaction on the accounting equation. (if a transaction causes a decrease in assets, liabilities or stockholders' equity, place a negative sign (or parentheses) in front of the amount entered for the particular asset, liability or equity item that was reduced. see illustration 3-4 for example.) assets
The accounting equation for Concord Corporation is affected by the transactions as follows:
Assets: +$76,680, Liabilities: +$62,600 and Stockholders' Equity: -$69,120
The effect of each transaction on the accounting equation is as follows:
1. Borrowed $59,600 by issuing bonds.
Assets: +$59,600
Liabilities: +$59,600
Stockholders' Equity: -$59,600
2. Paid $9,120 cash dividend to stockholders.
Assets: -$9,120
Liabilities: $0
Stockholders' Equity: -$9,120
3. Received $19,200 cash from a previously billed customer for services performed.
Assets: +$19,200
Liabilities: $0
Stockholders' Equity: $0
4. Purchased supplies on account for $3,000.
Assets: +$3,000
Liabilities: +$3,000
Stockholders' Equity: $0
In summary, the accounting equation for Concord Corporation is affected by the transactions as follows: Assets: +$76,680, Liabilities: +$62,600, and Stockholders' Equity: -$69,120.
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in a market economy, if the sum of the consumption, investment, and net export shares of gdp is greater than 1 minus the government share of gdp, market forces will result in
In a market economy, if the sum of the consumption, investment, and net export shares of GDP is greater than 1 minus the government share of GDP, market forces will result in economic growth.
What is a market economy?A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the forces of supply and demand. It is a mechanism of economic organization that relies on market forces and price signals to distribute goods and services efficiently.
Why is economic growth important?
Economic growth is important because it leads to higher levels of prosperity for citizens, improved quality of life, and a more robust and dynamic economy. Economic growth is critical because it generates more jobs and enables businesses to expand and thrive, which results in increased wealth for everyone.
How does a market economy lead to economic growth?
A market economy promotes economic growth by incentivizing individuals and firms to be productive, efficient, and innovative.
However, when people and companies have the freedom to pursue their own self-interest, they are more likely to take risks, innovate, and invest in productive activities that increase the size of the economy.
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when using a systematic approach to decision making, once a company has selected the best option, it would then
When using a systematic approach to decision making, once a company has selected the best option, it would then implement the decision.
What is decision making?Decision making is the process of identifying and selecting the most feasible option from a variety of choices in order to resolve problems and capitalize on opportunities. Decision making is a fundamental activity that is necessary in both individual and organizational decision making.
There are four phases of the decision-making process, and each phase is equally important:
Phase 1: Identification of a problem
Phase 2: Generating potential solutions
Phase 3: Assessing and selecting the most feasible option
Phase 4: Implementing the decision.
When using a systematic approach to decision making, a company can follow these phases in order to ensure that the decision-making process is thorough and efficient, and that the selected option is the most feasible one. Once the most feasible option has been selected, the company must then move on to the fourth phase, which is implementing the decision.
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A functional organization is an organization structure in which staff is grouped by areas of specialization, and the project manager has limited authority to assign work and apply resources.
True or False
False. Functional organization is an organizational structure in which personnel is grouped by areas of expertise, and the project manager has restricted authority to assign work and allocate resources.
Employees report to department heads, and the department head is in charge of supervising the work of their employees in a functional organization. A functional structure is used in businesses where there is a stable and repeatable process, and work is done in the same way throughout the organization. In a functional organization, people work in departments with similar skill sets. Project managers only have a limited authority to assign work and resources because the business needs to make sure the department's overall objectives are met. Therefore, a functional organization is an organization structure in which staff is grouped by areas of specialization, and the project manager has limited authority to assign work and apply resources. Hence, the given statement is true.
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on april 25, foreman electric installs wiring in a new home for $3,500 on account. however, on april 27, foreman’s electrical work does not pass inspection, and foreman grants the customer an allowance of $600 because of the problem. the customer makes full payment of the balance owed, excluding the allowance, on april 30.1. Record the Journal entries for the above information2. calculate net revenue associated with these transactions
On April 25, Foreman Electric installs wiring in a new home for $3,500 on account.
On the same day, a journal entry of Debit Accounts Receivable and Credit Service Revenue is recorded. On April 27, Foreman’s electrical work does not pass inspection and Foreman grants the customer an allowance of $600 because of the problem. This is recorded as a Debit Allowance for Uncollectible Accounts and Credit Accounts Receivable. On April 30, the customer makes full payment of the balance owed, excluding the allowance, and a journal entry of Debit Cash and Credit Accounts Receivable is recorded. The net revenue associated with these transactions is $2,900 ($3,500 less $600).
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If the government imposes a ceiling price on apartment rents, we would expect to observe all of the following except one. Which is the exception?
A. Conversion of some apartment complexes to condos
B. A shortage
C. An increase in the number of new apartment complexes being built
D. Lower maintenance of existing apartments
E. Long waiting lists for apartment seekers supply; movement along the supply curve both cause shortages.
If the government imposes a ceiling price on apartment rents, we would not expect "an increase in the number of new apartment complexes being built". Option C is the correct answer.
A price ceiling is a government-imposed limit on how high a price can be charged for a product. A price ceiling is set below the equilibrium price, resulting in a shortage of goods or services at the stated price. A price ceiling may be imposed on a variety of goods and services by the government to ensure that a large number of people can afford to access the said good or service. The government would rather spend money to give everyone access to it than allowing individuals to buy it for themselves.
As per the given case, if the government imposes a ceiling price on apartment rents, we would not expect an increase in the number of new apartment complexes being built.
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xyz is an annual bond that pays a coupon rate of 4%. what payment would you expect to receive every year?
If xyz is an annual bond that pays a coupon rate of 4%, the payment that you would expect to receive every year would depend on the: face value of the bond.
The face value is the amount that the bondholder will receive upon maturity.
To calculate the annual payment, you would need to multiply the face value of the bond by the coupon rate. This would give you the annual interest payment that the bondholder would receive.
The formula to calculate the annual payment is:
Annual payment = Face value x Coupon rate
For example, if the face value of the bond is $1000, and the coupon rate is 4%,
the annual payment would be:
Annual payment = $1000 x 0.04
Annual payment = $40
Therefore, you would expect to receive $40 every year as the payment for the bond.
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