1. The calculation of the horizontal analysis of McDade Company's Comparative Income Statement for the Years Ended December 31, 20Y2 and 20Y1 is as follows:
20Y2 % 20Y1 %
Sales $16,800,000 112% $ 15,000,000 100%
Cost of goods sold (11,500,000) 115% (10,000,000) 100%
Gross profit $ 5,300,000 106% $ 5,000,000 100%
Selling expenses $ (1,770,000) 118% $ (1,500,000) 100%
Administrative expenses (1,220,000) 122% (1,000,000) 100%
Total operating expenses $(2,990,000) 120% $(2,500,000) 100%
Operating income $2,310,000 92% $2,500,000 100%
Other revenue 256,950 114% 225,000 100%
Income before income tax expense $2,566,950 94% $2,725,000 100%
Income tax expense (1,413,000) 94% (1,500,000) 100%
Net income $ 1,153,950 94% $ 1,225,000 100%
The calculation of the Trend Analysis, with two examples is as follows:
Sales = 112% ($16,800,000/$15,000,000 x 100%)
Cost of goods sold = 115% ($11,500,000/$10,000,000 x 100%)
2. The significant relationships revealed by this horizontal analysis showed that sales revenue and gross profit increased by 12% and 6% respectively from 20Y1's figure, this increase did not translate into increased net income. Instead, the net income decreased by 6% in 20Y2 as a result of increased operating expenses, which witnessed a 20% increase.
Thus, The horizontal analysis of McDade Company's comparative income statement involves the calculation of percentage changes from 20Y1 to the 20Y2. The dollar amount changes can also be calculated.
Learn more: https://brainly.com/question/25806750
What do managers need to do to implement “people strategy”? Help me pls.
Answer:
Here is 6 things
Explanation:
Understand the goals of your business. ...
Focus on the financials. ...
Draft a strategy from the business strategy. ...
Use insights and data to influence decision-making. ...
Allocate your budget. ...
Measure your success.
As a manager, if you wanted to influence what employees do in situations lacking clear company rules or expectations, what should you do
As a manager if you want to influence what employees do in situations that lack clear company rules or expectations, you should create a strong culture.
Creating a strong culture is very important in the workplace. It is important because it helps to influence the discretionary behaviors that employees have in the work place.
It helps them to know what they should do in given situations where the the rules and the expectations are not clear.
This is very important because an organization may not have policies or rules for every given situation in the work place. The culture of the organization would be very useful in this case.
Read more on company rules
https://brainly.com/question/14913157?referrer=searchResults
explain element of business plan
Answer:
mark me as brainlest plzz
Explanation:
It should include a mission statement, a brief history of your business, and the highlights of your company's growth, your product or service and a summary of future plans. It also should explain why you are seeking financing and information about your banking and currency investors.
Lucy and Everly, a clothing retail company, wants to collect secondary data on the buying behavior of teenage customers in its new geographic market. Which action will Lucy and Everly most likely take in order to obtain this data
The action that Lucy and Everly will most likely take is obtaining of data compiled by databases created by marketing research firms within the new geographic market.
Marketing research means a process of gathering, recording, analyzing and drawing conclusion on collected data from potential customers of a product to facilitate decision making.
Main purpose of the marketing research is to provides information which are relevant for decision making in the firm.A marketing research data are also provided by marketing research firms to firms who need them.
In conclusion, the action that Lucy and Everly will most likely take is obtaining of data compiled by databases created by marketing research firms within the new geographic market.
Read more about Marketing research
brainly.com/question/24967957
Discussion Topic
Think of an unanticipated major expense that you might face in the next five years.
Discuss how you will ensure that it does not devastate you financially.
Answer:
An unanticipated major expense that might happen in the next five years would be my car breaks down. I can ensure this inconvenience does not devastate me financially by starting a savings account. Starting a savings account can and will help me in times of need. I can't access the money unless if I really need it.
Explanation:
the Answer:
Examples are groceries, the electric bill, fuel bills, taxes and insurance to mention a few. Unexpected expenses are those expenses you did not see coming. An example would be going for the inspection of your car and not passing because there is something that must be repaired.
Explanation:
At a single-phase, multiple-channel service facility, customers arrive randomly. Statistical analysis of past data shows that the interarrival time has a mean of 20 minutes and a standard deviation of 4 minutes. The service time per customer has a mean of 15 minutes and a standard deviation of 5 minutes. The waiting cost is $200 per customer per hour. The server cost is $25 per server per hour. Assume general probability distribution and no buffer capacity restriction
Required:
a. Find the optimal number of servers to be employed to minimize the total of waiting and server costs.
b. Find the average waiting time and the average total time through the system for the optimal case.
c. Find the cost per hour, average waiting time, and average flow time for one server if the probability distributions for the interarrival time and service time are assumed to be exponential and the mean values remain the same. .
Help me pls
Jin is an accountant who works for the national government, auditing the tax returns of large corporations. The pathway of the Government and Public Administration cluster that Jin works in is:
Question 13 options:
Public Management and Administration.
Revenue and Taxation.
Foreign Service.
Planning.
Revenue and Taxation department is the pathway of the Government and Public Administration cluster that Jin works in.
The department of the Revenue and Taxation is a pathway that exist under the Public Administration.
The main role of the department of the Revenue and Taxation is to ensure collection of tax in the state, auditing of tax as well as remittance of tax revenue to the Federal coffers.
Hence, the Revenue and Taxation department is the pathway of the Government and Public Administration cluster that Jin works in.
Therefore, the Option B is correct.
Read more about Taxation
brainly.com/question/1133253
Answer:
Revenue and Taxation.
Explanation:
took the test
Select the correct answer. Read this excerpt from a policy document that informs employees about payroll procedures: A) Each employee will submit a completed time sheet that shows the number of hours worked, sick time, and any vacation time taken. B) Managers must review each time sheet for accuracy and then sign it. The project director will then approve and sign each time sheet. C) If the company can’t directly deposit pay into employees’ bank accounts, the company will distribute payroll checks by 5 p.m. on the first Monday after the two-week pay period has ended. (D) The company will deduct taxes and benefits from pay. In which scenario would the company need to refer to the policy document?
The scenario where a policy document will be referred to will be D. The company will deduct taxes and benefits from pay.
A policy document simply means a formal document that is a legally binding document. It contains the instructions that determine how things are done in a organization.
Since the policy document informs employees about payroll procedures, it'll be applicable when the company will deduct taxes and benefits from pay.
Learn more about policies on:
https://brainly.com/question/10430105
Prepare Cash Budget For 3 Months Brewster Corporation expects the following cash receipts and disbursements during the first quarter of 2016 (receipts exclude new borrowings and disbursements exclude interest payments on borrowings since January 1, 2016)
January February March
Cash receipts $280,000 $300,000 $270,000
Cash disbursements 260,000 340,000 280,000
The expected cash balance at January 1, 2016, is $62,000. Brewster wants to maintain a cash balance at the end of each month of at least $60,000. Short-term borrowings at 1% interest per month will be used to accomplish this, if necessary. Borrowings (in multiples of $1,000) will be made at the beginning of the month in which they are needed, with interest for that month paid at the end of the month. Prepare a cash budget for the quarter ended March 31, 2016.
Brewster Corporation's Cash Budget for the three months will be prepared as follows:
Cash Budget
January February March
Beginning balance $62,000 $82,000 $60,810
Cash receipts $280,000 $300,000 $270,000
Borrowings 19,000 10,000
Total cash available $342,000 $401,000 $340,810
Cash disbursements 260,000 340,000 280,000
Interest payment on loan (190) (290)
Ending balance $82,000 $60,810 $60,520
Minimum cash balance $60,000 $60,000 $60,000
Data and Calculations:
January February March
Beginning balance $62,000 $82,000 $60,810
Cash receipts $280,000 $300,000 $270,000
Borrowings in February and March = $19,000 and $10,000
Interest payment on loans (February) = $190 ($19,000 x 1%)
Interest payment on loans (March) = $290 ($29,000 x 1%)
Required minimum monthly cash balance = $60,000
Thus, Brewster Corporation's cash budget for the first quarter of 2016 shows a cash balance of $60,520 with a loan of $29,000.
Learn more: https://brainly.com/question/20484362
which of the following describes a federal student loan? a funds provided by a private business that do not need to be paid back b funds provided by credit unions that must be paid back c funds provided by government that do not need to be paid back d funds provided by the government that must be paid back
Answer:
d
Explanation:
Plain and simple:)
mark brainliest? :)
________ is the amount of data that can be transmitted across a transmission medium measured in bits per second.
Answer- Bandwidth
Explanation:
i looked up ur question so im not sure if its correct
Rational and Normative modes of decision making are used. Then intuition or gut feeling also play a role in this process. How does a manager, making decisions in real life situation, strike a balance between these modes to make quick but right decisions.
A manager, making decisions in real-life situations, strikes a balance between these ways to make quick but correct decisions based on systemic organizational vision and conceptual skills.
The manager's experience will help him to make decisions using rational and normative ways, and thus analyze what is the best strategy for effective decision making.
Conceptual skills refer to the manager's systemic view, which understands the organization as an integrated system and must involve a set of thoughts, processing and planning to improve the business.
Therefore, decision making must be taken in a rational and normative way according to the context of the situation that requires a decision, and it is up to the manager to use the best tool to make a decision aligned with the company's objectives and goals.
Learn more here:
https://brainly.com/question/4382381
Talese would like to claim her granddaughter, Natalia, as her qualifying child so she can claim the Earned Income Tax Credit (EITC). However, Natalia's mother, Taye, is also eligible to claim Natalia as her qualifying child for EITC purposes. As Talese's tax preparer, what information would you share with Talese
Explanation:
Taye holds a higher right and may claim EITC based on Natalia because Taye is natalia parent
Because Taye is Natalia's parent, Taye has a larger claim and may make an EITC ( Earned Income Tax Credit) claim based on Natalia.
What is Earned Income Tax Credit?Low- to moderate-income employees and their families can benefit from tax breaks thanks to the Earned Income Tax Credit (EITC). If you are eligible, you can use the credit to lower your tax liability and perhaps boost your refund. For working low- to moderate-income people and couples, especially those with children, the federal earned income tax credit (EITC or EIC) is a refundable tax benefit.
The number of children and the recipient's income is factors that affect the EITC benefit amount. Adults with low incomes who are not parents are eligible. An individual or couple must meet conditions including relationship, age, and shared domicile in order to claim one or more people as their qualifying kids. EITC develops gradually and reaches a medium-length plateau.
Learn more about EITC, here:
https://brainly.com/question/16846477
#SPJ5
Bobby decides to sell lemonade on a hot summer day. If Bobby sells 25 glasses of lemonade for $3.00 per cup, and his average total cost is $2.60, what are Bobby's economic profits for the day
Answer:
$0.60
Hope this helps!!
Please tell me if I have made an error, I enjoy learning from my mistakes
The economic profit that is earned by Bobby on the selling lemonade glasses is $10.
What is sales revenue?Sales revenue is the income being obtained by an entity when they sold the goods to customers.
Given values:
Total revenue: $75 (25 glasses X $3)
Average total cost: $65 ( 25 glasses X $2.60)
Computation of the total economic profit:
[tex]\rm\ Economic \rm\ profit=\rm\ Total \rm\ revenue-\rm\ Average \rm\ total \rm\ cost\\\rm\ Economic \rm\ profit=\$75-\$65\\\rm\ Economic \rm\ profit=\$10[/tex]
Therefore, the amount of economic profit is $10 received to Bobby after making sale.
Learn more about the economic profit in the related link:
https://brainly.com/question/13528597
#SPJ2
A lessor enters a sales-type lease with an unguaranteed residual. The lessor will record:____.
a. A credit to sales revenue for the fair value of the asset less the gross amount of the unguaranteed residual value.
b. A debit to lease receivable for the gross amount less the present value of the unguaranteed residual value.
c. A credit to sales revenue for the fair value of the asset.
d. A credit to sales revenue for the fair value of the asset less the present value of the unguaranteed residual value.
Answer:
b
Explanation:
mark me as brainliest pls
Chester has negotiated a new labor contract for the next round that will affect the cost for their product Coat. Labor costs will go from $2.95 to $3.55 per unit. Assume all period and other variable costs remain the same. If Chester were to absorb the new labor costs without passing them on in the form of higher prices, how many units of product Coat would need to be sold next round to break even on the product
Based on the fact that Chester decides to absorb the new labor cost, the units needed to breakeven would be 1,566 units.
The current fixed costs are $8,346.
The current contribution margin is $11,401
The units sold are:
= Sales / Selling price
= 30,785 / 16
= 1,924 units
The new contribution margin would be:
= Current contribution margin - Increase in labor costs
= 11,401 - ( (3.55 - 2.95) x 1,924)
= $10,255.60
Breakeven point is:
= Fixed costs / Contribution margin per unit
= 8,346 / (10,255.60÷ 1,924 units)
= 1,566 units
In conclusion, the breakeven point is 1,566 units
Find out more about the calculation of breakeven point at https://brainly.com/question/9212451.
The newest employee at Edwards Escrow Co., Adam Riley, is handling the escrow
paperwork for the sellers and the buyers on an Anaheim property sale. When Adam
goes to figure out the prorations for the month of February, for which some of the
expenses have already been paid by the sellers, Adam cannot remember what
number to use to figure out the proration. Which of the following should he use?
Since Adam cannot remember the number he used for the proration, then, he should use 28 days because that is the actual number of days in February,
Proration is an act of dividing the property expenses between a buyer and seller to ensure that the parties only pay for the days they owns the property.
Since the month of February contains 28 days, then, the number of days used in the calculation of the Proration will be maximum of 28 days
Therefore, the Option A is correct because 28 days is the actual number of days in February.
Missing options includes
28 days because that is the actual number of days in February, the month for which the prorations are being calculated., 30 days which escrow companies use as their base month in figuring out prorations31 days which escrow companies use as their base month in figuring out prorations.Read more about February days
brainly.com/question/901325
Arguments against industrial policy include all of the following except Select one: a. foreign industrial policy success has been variable. b. The need to rescue "sunset" industries. c. the need to promote "sunrise" industries. d. reduces market efficiency
The language used in texting is acceptable in business writing. True or false
Answer: The answer is generally false.
Sophia is an undergraduate intern at her Senator's office in Washington, DC. She loves her job, as it
allows her to see the process of lawmaking up-close and in person. Her Senator has asked her to
prepare him for an upcoming meeting with lobbyists representing the pharmaceutical industry, who
would like to see legislation extending the term of drug patents beyond twenty years. Sophia's
research reveals that the twenty-year exclusivity period given to companies while a drug is patented
is hugely valuable, allowing the companies to reap billions of dollars in profit. Even as a patent nears
expiration, federal law makes it easy for drug companies to obtain a five-year extension on a patent
simply by making a few minor tweaks such as changing the delivery mechanism of a drug (faster or
slower dissolving), or by combining two drugs together. After a drug loses patent protection, it
becomes much easier for generic manufacturers to copy the drug, which causes the price of the drug
to plummet, making it much more affordable for people to buy
a
s
On the other hand, she learns that bringing a new drug to market takes roughly 14 years, at a cost of
$1.3 billion. For every drug that makes it to market, more than 50 other research programs will fail.
Even if the FDA approves a drug, only two out of 10 approved drugs will be profitable. Since 2006,
brand drugs have lost an estimated $60 billion in sales due to patent expirations. By 2015, this
number is expected to climb to $160 billion.
ency
gal
How should Sophia advise her senator? Why?
Sophia should advise her senator to consider all aspects of patents and the economic impact on producers and consumers, to benefit everyone equally.
According to the information found by Sophia, the senator must take into account the most important information for the meeting with representatives of the pharmaceutical industry. For example, she must take into account that currently pharmaceutical companies already have a long reservation of their patents of maximum of 25 years in which they recover the money invested and earn billions of dollars.
However, this is not enough because pharmaceutical companies also lose about 1.3 billion on some drugs. After all, only 2 out of 10 drugs put on the market are profitable.
According to the foregoing, it would be fair for pharmaceutical companies to extend the term of exclusivity of patents because this time would bring them greater profits that would balance the great possibilities of loss that they have with other research and with drugs that go on the market.
Learn more about patent in: https://brainly.com/question/13896945
Martin is an intern working for Tennessee Fried Chicken (TFC), an international company with over 1,000 franchised restaurants throughout the United States and in 21 other countries. TFC heavily advertises on television and in various print media that its chicken is superior due to its blend of "42 secret herbs and spices." Many have tried to duplicate the recipe unsuccessfully, and burglars have even been caught trying to steal it. One day Martin is called into the president's office for an assignment, and during their conversation, the president leaves the room, leaving Martin alone. Martin notices that the wall safe is open and looks inside, where he sees an envelope labeled "THE RECIPE." He opens it and finds that it is the list of the 42 secret herbs and spices, along with quantities and order of use. He quickly makes a copy of the recipe and returns the envelope to the safe. That afternoon, he calls Bluto's Fried Chicken, a TFC competitor, and informs Bluto's of the information he possesses, and they arrange a meeting. If Martin sells the recipe to Bluto's, who, if anyone, would be guilty of mis-appropriation?
a. If Martin sells the recipe to Bluto's, Martin is guilty of misappropriation but Bluto's is not guilty of misappropriation.
b. If Martin sells the recipe to Bluto's, Martin is not guilty of misappropriation but Bluto's is guilty of misappropriation.
c. If Martin sells the recipe to Bluto's, both Martin and Bluto's are guilty of misappropriation.
d. Neither Martin nor Bluto's is guilty of misappropriation because leaving the safe open shows that the secret was not guarded and guarding is necessary to qualify for trade secret protections.
The culprits of misappropriation would be both Martin and Bluto's Fried Chicken.
Misappropriation is a crime against wealth or property. This crime occurs when a person or group seizes someone else's property, to make a profit.
According to the foregoing, both are incurring misappropriation because:
Martin: He was not the creator or owner of the recipe, he stole it in a moment of the owner's carelessness and wanted to obtain personal gain in exchange for the product owned by TFC.Bluto's Fried Chicken: He knows that Martin obtained the recipe illegally, yet he still decides to make the transaction to copy the recipe and make more profit in his business.Learn more in: https://brainly.com/question/2498208
How should Sophia advise her senator? Why?
Answer:
Explanation:
A Promotion
In the month of March the Chester Corporation received and delivered orders of 182,000 units at a price of $15.00 for revenue of $2.730mil for their product Cedar. Chester uses the accrual method of accounting and offers 30 day credit terms. By the end of May Chester had collected payments of $2.730mil for the March deliveries. How much of the collected $2.730mil should Chester show on the March 31st income statement and how much on the May 31st income statement?
give two examples of graphs and two examples of charts.
Answer:
A Bar Chart. A PIE CHART. LINE CHART. Area Chart. Dot Plot. A Pictogram. Radar Chart.Explanation:
Answer:
Types of Graphs and Charts
Bar Chart/Graph.Pie Chart.Line Graph or Chart.Histogram Chart.Area Chart.Dot Graph or Plot.Scatter Plot.Bubble Chart.On-shelf in stock percentage best describes a product availability metric for a ______.
Based on the information given, it can be deduced that on-shelf in stock percentage relates to the retailer.
It should be noted that on shelf in stock percentage simply means the measurement of the percentage of time that a particular product will be available on a shelf in a store.
On-shelf in stock percentage best describes a product availability metric for a retailer. This simply means a business where consumers buy goods from.
Learn more about stock on:
https://brainly.com/question/25588880
The goal of a subsidy is to __________. a.) discourage consumption of a good b.) raise revenue for the government c.) encourage production of a good d.) avoid deadweight loss
The goal of a subsidy is to encourage production of a good.
A subsidy can be described as when the government reduces the cost of production or the cost of a good or service to consumers. It is a form of transfer of wealth from the government to consumers or producers.
The purpose of subsidies is to reduce the price of goods and services. This encourages production or consumption. Subsidies reduces the revenue of the government.
To learn more about subsidies, please check: https://brainly.com/question/13806841
Brainlest???
How do social media sites impact the hospitality and tourism industry and its employees?
Answer:
Social media permits hotel managers to get immediate and direct feedback from their clients, so they can understand better their needs and wants. On the other hand, social media can have a negative effect too.
Explanation:
Hopes this helps
Each week, Namratha updates an online newsletter to share information about interesting topics related to the company. All company employees have access to the newsletter site. This is an example of _______ communication.
The type of communication which Namratha is using when sharing an online newsletter among employees is:
Internal communicationAccording to the given question, we are asked to state the type of communication which Namratha is using when sharing an online newsletter among employees.
As a result of this, we can see that because Namratha shares an online newsletter about the company and all the company employees has access to this, then this is an example of an internal communication because it shares the information with people in the office.
Read more about internal communications here:
https://brainly.com/question/5657333
Beck Manufacturing reports the following information in T-accounts for the current year. Raw Materials Inventory Debit Credit Beginning 10,000 Purchases 45,000 Available for use 55,000 Direct materials used 46,500 Ending 8,500 Work in Process Inventory Debit Credit Beginning 14,000 Direct materials used 46,500 Direct labor 27,500 Overhead 55,000 143,000 Cost of goods manufactured 131,000 Ending 12,000 Finished Goods Inventory Debit Credit Beginning 16,000 Cost of goods manufactured 131,000 Available for sale 147,000 Cost of goods sold 129,000 Ending 18,000 1. Prepare the schedule of cost of goods manufactured for the year. 2. Compute cost of goods sold for the year.
Cost of goods manufactured is $131,000 and Cost of goods sold is $129,000.
Cost of goods manufactured
Particulars Amount
Direct Material:
Beginning Inventory of Raw Material $10000
Add: Purchase of raw material $45000
Raw material available for use $55000
Less: Ending inventory of Raw material ($8500)
Direct Material used $46500
Direct labor $27500
Factory Overhead $55000
Total manufacturing Cost $129000
Add: Beginning inventory of WIP $14000
Total cost of WIP $143000
Less: Ending Inventory of WIP ($12000)
Cost of goods Manufactured $131000
Cost of goods sold for the year:
Particulars Amount
Beginning stock of finished goods $16000
Cost of goods manufactured $131000
Goods available for sale $147000
Ending stock of Finished goods ($18000)
Cost of goods sold $129000
Read more about Cost of goods sold
brainly.com/question/24561653
Carol is a single mother with two qualifying dependent children. The amount of her Child Tax Credit was limited by her tax liability. Carol may qualify for: The Additional Child Tax Credit. An additional itemized deduction. An additional adjustment to income. An additional nonrefundable credit.
Considering the situation described above, Carol may qualify for "the Additional Child Tax Credit."
What is Additional Child Tax Credit?Additional Child Tax Credit is defined by the Internal Revenue Service (IRS) as the refundable credit individuals may receive if their Child Tax Credit is more than the total amount of income taxes they owe, in as much they meet other listed requirements.
Given that Carol has more than one child, this may lead to Additional Child Tax Credit for her, in as much her children qualified or eligible for the Additional Child Tax Credit.
Hence, in this case, it is concluded that the correct answer is option A. "The Additional Child Tax Credit."
Learn more about Additional Child Tax Credit here: https://brainly.com/question/14328499