Answer:
$600,000
Explanation:
Opportunity cost also known as implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.
the next best option to Bob is to sell the cafe. If he did, he would have earned $600,000. This is his opportunity cost.
$50,000 constitutes a variable cost while $7000 is a fixed cost.
Fixed costs are costs that do not vary with output. e,g, rent, mortgage payments
If production is zero or if production is a million, Rent payments do not change - it remains the same no matter the level of output.
Variable costs are costs that vary with production
If a producer decides not to produce any output, there would be no need to hire labour and thus no need to pay hourly wages.
The following is the adjusted trial balance for Stockton Company. Stockton Company Adjusted Trial Balance December 31 Cash 6,577 Accounts Receivable 2,141 Prepaid Expenses 690 Equipment 15,082 Accumulated Depreciation 4,161 Accounts Payable 1,637 Notes Payable 5,294 Common Stock 1,000 Retained Earnings 9,508 Dividends 709 Fees Earned 7,913 Wages Expense 2,839 Rent Expense 798 Utilities Expense 352 Depreciation Expense 234 Miscellaneous Expense 91 Totals 29,513 29,513 Determine the net income (loss) for the period.
Answer:
Net income $3,599
Explanation:
Fees Earned $7,913
Expenses:
Wages Expense $2,839 Rent Expense $798 Utilities Expense $352 Depreciation Expense $234 Miscellaneous Expense $91 $4,314Net income $3,599
the following accounts are all permanent accounts that belong to the balance sheet, not the income statement:
Cash, Accounts Receivable, Prepaid Expenses, Equipment, Accumulated Depreciation, Accounts Payable, Notes Payable, Common Stock, Retained Earnings
Dividends are not included in the income statement
Nettle Co. uses process costing to account for the production of rubber balls. Direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Equivalent units have been calculated to be 12,000 units for materials and 10,000 units for conversion costs. Beginning inventory consisted of $14,000 in materials and $8,000 in conversion costs. April costs were $72,000 for materials and $80,000 for conversion costs. Ending inventory still in process was 4,000 units (100% complete for materials, 50% for conversion). The cost per unit for materials using the FIFO method would be closest to:__________A. $6.0000B. $7.1666C. $14.5000D. $1.8334
Answer: $6.00
Explanation:
The following can be gotten from the question:
From the question, we are informed that April costs were $72,000 for materials with the equivalent units have been calculated to be 12,000 units.
Therefore, the cost per unit for materials using the First-In-First-Out (FIFO) will be:
= $72000 / 12000
= $6.00
The cost per unit for materials using the FIFO method would be closest to Option A. $6.0000.
The calculation is as follows:= Material cost ÷ equivalnet units for materials
= $72000 ÷ 12000
= $6.00
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The Great Railway Strike of 1877 __________. Group of answer choices represented a weakness in the system that allowed railroads to shut down, thus shutting down commerce occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers was calmed when the railroad gave in to demands of the workers resulted in significant legislation to prevent railroad strikes from ever happening again
Answer:
occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers.
Explanation:
The Great Railway Strike of 1877 occurred when the Baltimore and Ohio railroad announced a pay cut of 10% for all of its workers.
If real GDP grew by 6 percent and population grew by 2 percent, then real GDP per person grew by approximately ______ percent.
Answer:
3%
Explanation:
Real GDP per person is a measure of the economic wellbeing of the populace of a country.
Real GDP per person = Real GDP / population
6% / 2% = 3%
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
f the U.S. government were to ban imports of Canadian beef for reasons unrelated to health concerns, what would be the effect on the price of beef in the United States? How would the typical American’s diet change? What if the ban suggested to consumers that there might be health risks associated with beef?(Hint: Again, think about which curve(s) will shift and what would be the effect on price and quantities.)
Answer:
Following are the steps to the given question:
Explanation:
In step 1:
When the Us administration prohibits beef imports through Canada for health reasons, therefore the import and export of beef would affect beef availability, thereby dropping the cost of beef on an Us market, which will also raise.
In step 2:
Its impact on beef consumption would be less required mostly on the U.S. market as well as the degree for effective change depended on relative prices of beef consumption even Among consumers. If this is costly, then citizens may replace this with a lower-price substitute.
In step 3:
In Canada, the beef manufacturers have acquired beef stocks and therefore are selling in the Canadian market at a low price. If beef-related health effects are listed among explanations because of its ban this will deter consumers from eating very little on excess supply but will reduce demand by as much as previously.
The NPV and IRR method occasionally do not agree on accept/reject decisions when evaluating an investment proposal.
True or False?
The NPV and IRR method occasionally do not agree on accept/reject decisions when evaluating an investment proposal. The given statement is False.
Why positive NPV should be accepted?A project or venture has a positive NPV if the estimated earnings, discounted for their present value, are more than the anticipated costs, also expressed in today's currency. A positive NPV indicates an investment that is likely to be successful. Net loss will arise from an investment with a negative NPV.
The total of the investment's anticipated cash inflows and outflows, discounted back to their present value at a risk-adjusted rate, is known as the net present value. Project acceptance is granted if the NPV exceeds $0. The project is turned down in any other case.
Thus, the given statement is False.
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acquired: Firm A has a margin of 11%, sales of $610,000, and ROI of 17%. Calculate the firm's average total assets. Firm B has net income of $72,000, turnover of 1.40, and average total assets of $920,000. Calculate the firm's sales, margin, and ROI. Firm C has net income of $136,000, turnover of 2.01, and ROI of 23.40%. Calculate the firm's margin, sales, and average total assets.
Answer:
1. Firm's average total assets = Net Income/ROI = $610,000*0.11 / 0.17 = $394,705.88
2. Sales = Assets turnover ratio * Average total assets = 1.40*920,000 = $1,288,000
Margin = Net Income / Sales = $72,000/$1,288,000 = 0.06
ROI = Net Income / Average Total Assets = $72,000/920,000 = 0.078
3. Average Total Assets = Net Income / ROI = $136,000/23.40% = 136,000/0.2340 = $581,196.58
Sales = Assets turnover ratio * Average total assets= 2.01*$581,196.58 = $1,168,205.12
Margin = Net Income / Sales = $136,000/$1,168,205.12 = 0.1164
Answer and I give u brainliest and extra pts
Answer:
b
Explanation:
Eugene and Velma are married. For 2020, Eugene earned $25,000 and Velma earned $30,000. They have decided to file separate returns. They have no deductions for adjusted gross income. Velma's itemized deductions are $14,200 so she is going to itemize. Eugene's itemized deductions are $4,000. Assuming Eugene and Velma do not live in a community property state, what is Eugene's taxable income
Answer:
$21,950
Explanation:
Based on the information given Assuming both of them do not live in a community property state Eugene's taxable income will be calculated as:
Income Earned (Velma) $30,000
Less Eugene's itemized deductions ($4,000)
Less Standard deduction ($4,050)
Eugene's taxable income$21,950
Therefore Eugene's taxable income will be $21,950
Reeves Co. filed suit against Higgins, Inc., seeking damages for copyright violations. Higgins' legal counsel believes it is probable that Higgins will settle the lawsuit for an estimated amount in the range of $170,000 to $270,000, with all amounts in the range considered equally likely. How should Higgins report this litigation
Answer:
As a liability for the minimum amount of $170,000 along with disclosure of the range
Explanation:
Based on the information given Higgins should report this litigation as a LIABILITY for the amount of $170,000 along with disclosure of the range reason been that we were told he will settle the lawsuit with an amount in the range of $170,000 to $270,000 in which all the amounts in the range are considered to be both equally likely which therefore means that he will have to record the LIABILITY at the amount of $170,000 which is appear to be the minimum amount in the range.
Therefore Higgins should report this litigation As a liability for the minimum amount of $170,000 along with disclosure of the range.
What is the default view in word document
Answer:
When you open one of your business documents in Microsoft Word 2010, it is displayed in the Print Layout view, which is the default view. You can change the view at any time. If you find that you are having to change the view every time you open a document, you can save time by modifying the default open view in Word.
Explanation:
Answer:
EDITING VIEW
Explanation:
A W-2 form is a record showing an employee's personal payroll
information, yearly earnings, and deductions.*.
True
Or
False
Answer:
True
Explanation:
Derek plans to retire on his 65th birthday. However, he plans to work part-time until he turns 70.00. During these years of part-time work, he will neither make deposits to nor take withdrawals from his retirement account. Exactly one year after the day he turns 70.0 when he fully retires, he will begin to make annual withdrawals of $195,078.00 from his retirement account until he turns 94.00. After this final withdrawal, he wants $1.37 million remaining in his account. He he will make contributions to his retirement account from his 26th birthday to his 65th birthday. To reach his goal, what must the contributions be
Answer:
X = $25,717.13 is the contribution amount that Derek has to plan.
Explanation:
Solution:
Assumption = Interest rate = 4%
Amount required at the age of 70 = value of all withdrawals
So, he will be making withdrawals until 94 years of age.
94 - 70 = 24
Annual Withdrawals = $195,078.00
Interest Rate = 4%
Period = 24 years.
Putting these values into the PVAF function, you will get:
PVAF(4%,24 years) = 15.24
So,
Amount required at the age of 70 = $195,078 x 15.24
Amount required at the age of 70 = 2972988.72
And now, we need to find the amount needed at the age of 65.
Amount required at the age of 65 = Present Value at the age of 65
Amount required at the age of 65 = 2972988.72 x PVF (4%,5 years)
PVF (4%,5 years) = 0.822
Amount required at the age of 65 = 2972988.72 x 0.822
Amount required at the age of 65 = $2443796.72
Let suppose, annual contribution = x
X*[{(1+0.04)40-1]}/0.04] = $2443796.72
95.026X = $2443796.72
X = $25,717.13 is the contribution amount that Derek has to plan.
To be considered part of a market, an individual must
Answer:
Have both willingness to buy and the financial resources needed to buy.
On the same day that the sales department at Duffin House received an order for 500 packages from the OHaganBooks Texas headquarters, it received an additional order for 150 packages from FantasyBooks, based in California. Duffin House has warehouses in New York and Illinois. The New York warehouse has 500 packages in stock, but the Illinois warehouse is closing down and has only 250 packages in stock. Shipping costs per package of books are as follows: New York to Texas: $20; New York to California: $50; Illinois to Texas: $30; Illinois to California: $40. What is the lowest total shipping cost for which Duffin House can fill the orders
Answer:
Duffin House
The lowest total shipping cost for which Duffin House can fill the orders is:
= $16,000.
Explanation:
a) Data and Calculations:
Orders received from OHaganBooks, Texas = 500 packages
Orders received from FantasyBooks, California = 150 packages
No. of packages in stock at New York Warehouse = 500
No. of packages in stock at Illinois Warehouse = 250
Shipping cost:
New York to Texas: $20;
New York to California: $50;
Illinois to Texas: $30;
Illinois to California: $40
Lowest shipping cost arrangement:
500 packages from New York to Texas at $20 = $10,000
150 packages from Illinois to California at $40 = $6,000
Total shipping cost = $16,000
Other shipping cost arrangement:
150 packages from New York to California at $50 = $7,500
350 packages from New York to Texas at $20 = $7,000
150 packages from Illinois to Texas at $30 = $4,500
Total shipping cost under this arrangement = $19,000
b) The key in making this shipping arrangement is to identify the lowest shipping cost per package. The order that attracts this shipping cost is taken first. Then identify the next lowest shipping cost that is feasible and have the order fulfilled accordingly.
Wildcat Corporation has a fiscal year-end of December 31. Please review the following transactions: On October 1, the insurance premium of $23,000 was paid for a one-year fire insurance policy. On June 30, the company advanced its chief financial officer $21,000; principal and interest at 7% on the note are due in one year. Equipment costing $71,000 was purchased at the beginning of the year for cash. Depreciation on the equipment is $14,200 per year. If the adjusting entries were not recorded, would net income be higher or lower and by how much
Answer:
S/n General Journal Debit Credit
1. Insurance Expense $5,750
{(23,000/12) * 3}
Prepaid Insurance $5,750
2. Interest Receivable $735
(21,000 * 7% * 6/12)
Interest Revenue $735
3. Depreciation Expense $14,200
Accumulated Dep. $14,200
Effect on Net Income
Net Income would be lower by:
==> ($5,750 - $735 + $14,200)
==> $19,215
Jackson, Inc. produces two different products (Product 5 and Product Z) using two different activities:Machining, which uses machine hours as an activity driver, and Inspection, which uses a number of batches as an activity driver. The cost of Machining is $255,000, while the cost of Inspection is $35,000. Product 5 uses 33% of total machine hours and 65% of total batches.What is the total Inspection cost assigned to Product Z?(a) $12,250(b) $17,500(c) $84,150(d) $170,850
Answer:
Inspection costs allocated= $12,250
Explanation:
Giving the following information:
The cost of Machining is $255,000, while the cost of Inspection is $35,000. Product 5 uses 33% of total machine hours and 65% of total batches.
First, we need to determine the allocation rate of Inspection for Product Z:
Allocation rate Product Z= 1 - Product 5 use of batches
Allocation rate Product Z= 1 - 0.65
Allocation rate Product Z= 0.35
Now, we can allocate Inspection costs:
Inspection costs allocated= 35,000*0.35
Inspection costs allocated= $12,250
discussed why present age diseases are different from the pasr
Answer:
in the past we did not have much reshcearch to help figure out what is wrong
now we have the tech to help and we also have vacanation
Explanation:
Answer:
in the past we didn't have nuclear tech that could cause radiation and who knows what else so now we all gonna die within the next 200 years give me big brain plz i can be smart i am right now i gave clear answer then i make meme review part also nice
Explanation:
It is important for pharmaceutical companies to think of the physiological balance of the body when they create a drug. Unfortunately, not every drug made can be easily taken into the cell or withstand stomach acids. Describe 2 possible methods that could be used to overcome these issues and make a drug available in the body. (2 points)
Answer: Proper examination and test
Explanation:
Due to the nature of how delicate the health sector is, drugs should be taken through some crucial steps before they are administered for the general public or those who would be taken them. Here are what to consider;
1) A thorough examination should be carried out on drugs produced.
2) Various tests should be carried out with the drugs, especially on animals before guaranteed to be used for humans
Steve Prince and Chelsy Stevens formed a partnership, dividing income as follows: Annual salary allowance to Prince of $139,200. Interest of 7% on each partner's capital balance on January 1. Any remaining net income divided to Prince and Stevens, 1:2. Prince and Stevens had $55,520 and $97,560, respectively, in their January 1 capital balances. Net income for the year was $240,000. How much is distributed to Prince and Stevens
Answer:
Amount distributed to Prince = $33,914.53
Amount distributed to Steven = $66,885.47
Explanation:
Prince’s interest on capital = Prince’s January 1 capital balances * 7% = $55,520 * 7% = $3,886.40
Stevens’ interest on capital = Stevens’ January 1 capital balances * 7% = $97,560 * 7% = $6,829.20
Net income balance = Net income - Annual salary allowance to Prince - Prince’s interest on capital - Stevens’ interest on capital = $240,000 - $139,200 - $3,886.40 - $6,829.20 = $90,084.40
Prince’s share of net income balance = Net income balance * (1 / 3) = $90,084.40 * (1 / 3) = $30,028.13
Stevens’ share of net income balance = Net income balance * (2 / 3) = $90,084.40 * (2 / 3) = $60,056.27
Therefore, the amount distributed to Prince and Stevens can now be calculated as follows:
Amount distributed to Prince = Prince’s interest on capital + Prince’s share of net income balance = $3,886.40 + $30,028.13 = $33,914.53
Amount distributed to Steven = Stevens' interest on capital + Prince’s share of net income balance = $6,829.20 + $60,056.27 = $66,885.47
2.02 What is the benefit of a 529 education saving plan?
earnings in a 529 plan grow federal tax-free and will not be taxed when the money is taken out to pay for college.
says that the quantity demanded of a good folls when the price of 1 point the good rises.
A) The Law of Supply
B) The Law of Demand
C) Market Structure
D) Market Equilibrium
Answer:
B) The Law of Demand
Explanation:
The correlation between the volume demanded, and the price of a good is explained by demand law. As per this law, price and the quantity demanded have an indirect or inverse relationship. An increase or decrease in price results in quantity demanded moving in the opposite direction.
Should the prices of a product or service increase, its demand falls.
Dioxin emission that results from the production of paper is a good example of a negative externality because a. self-interested paper producers will not consider the full cost of the dioxin pollution they create. b. self-interested paper firms are generally unaware of environmental regulations. c. toxic emissions cause firms to produce less than the socially optimal amount of paper. d. there are fines for producing too much dioxin.
Answer:
a. self-interested paper producers will not consider the full cost of the dioxin pollution they create.
Explanation:
Externality basically causes the market to produce a large amount or little amount of goods and service, thereby causing an inefficient distribution or allocation of resources.
Therefore, when the manufacturing or consumption of a particular product by the consumers leads to an additional cost for a third party, it is known as negative externality.
Hence, Dioxin emission that results from the production of paper is a good example of a negative externality because self-interested paper producers will not consider the full cost of the dioxin pollution they create.
The weight of a product is normally distributed with a standard deviation of 0.5 grams. If the production manager wants no more than 5% of the products to weigh more than 5.1 grams, then the average weight should be _____.
Answer:
4.28 grams
Explanation:
The z score is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by the formula:
[tex]z=\frac{x-\mu}{\sigma} \\\\where\ \mu=mean,\sigma=standard \ deviation,\ x=raw\ score[/tex]
Given that:
P(x > 5.1 grams) = 5%, x = 5.1 grams, σ = 0.5 grams
P(x > 5.1 grams) = 5%
P(x < 5.1 grams) = 100% - 5% = 95%
P(x < 5.1) = 95%
From the normal distribution table, 95% corresponds with a z score of 1.645. Hence:
[tex]1.64=\frac{5.1-\mu}{0.5}\\\\5.1-\mu=0.82\\\\\mu=4.28\ grams[/tex]
A shoe company will make a new type of shoe. The fixed cost for the production will be $24,000. The variable cost will be $31 per pair of shoes. The shoes will sell for $100 for each pair. How many pairs of shoes will have to be sold for the company to break even on this new line of shoes
Answer:
Break-even point in units= 348
Explanation:
Giving the following information:
The fixed cost for the production will be $24,000. The variable cost will be $31 per pair of shoes. The shoes will sell for $100 for each pair.
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 24,000 / (100 - 31)
Break-even point in units= 347.82 = 348
What would cause a shift of demand curve for snickers bars
a) What are the two features in a market economy that stem from self interest?
Answer:
Private property rights and the market.
Explanation:
MacKenzie Company sold $420 of merchandise to a customer who used a Regional Bank credit card. Regional Bank deducts a 5.0% service charge for sales on its credit cards. MacKenzie electronically remits the credit card sales receipts to the credit card company and receives payment immediately. The journal entry to record this sale transaction would be: Multiple Choice
Answer:
See below
Explanation:
Credit card expense = 5% of sales value $420 = $21
Alice wants to have a portrait painted for her family which career pathway would be the best for Alice to contact
Insurance is a financial service that allows
Answer:
allows a consumer to transfer risk to a company.
Explanation:
