Answer:
The key aspect of any business, company, or employer is customer service goals.
Explanation:
A customer service department and the staff represent the company and contribute to building the company's public perception. Customer service objectives are specific objectives and guidelines put in place by an enterprise to ensure that every client is 100% satisfied with the services provided by the enterprise. Excellent customer service means that every customer's needs and desires can be met promptly. A customer should never get away with a company or leave a place unhappy.
Improve customer service measurement
Customers goals :
Easy to get in touch with customersResponse times acceleratedImprove customer service measurementFind ways to create an all-round experience for our customersDevelop a loyalty program for clientsCreate a culture that focuses on customersDevelop a strategy for customer surveysTake the customer success account into accountGet customer renovation and up-sell creativeWhich of the following institutional investors most likely must spend a target percentage of the portfolio annually?
A. Endowments.
B. Life insurance firms.
C. Property and casualty insurance firms.
Answer: Endowments
Explanation:
The institutional investors that most likely must spend a target percentage of the portfolio annually is the endowments.
Endowment fund refers to the long term fund that is used for perpetual operations and usually set up by colleges or in hospitals
The fund then covers the expenses relating to provision of services for the students. A portion of the endowment is allowed to be use for every fiscal year.
Identifying and Classifying Balance Sheet and Income Statement Accounts
Following are selected accounts for Staples, Inc., for the fiscal year ended January 3, 2016
(a) Indicate whether each account appears on the balance sheet (B) or income statement (I).
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 I
Accumulated depreciation 4,067 B
Depreciation expense 408 I
Retained earnings 6,694 B
Net income (loss) (211) I
Property, plant & equipment, net 6,030 B
Selling, general and admin expense 4,884 I
Accounts receivable 1,816 B
Total liabilities 6,144 B
Stockholders' equity 6,136 B
(b) Using the data, compute total assets and total expenses.
Total Assets = $Answer
Total Expenses = $Answer
(c) Compute net profit margin (net income/sales) and total liabilities-to-equity ratio (total liabilities/stockholders' equity). (Round your answers to two decimal places.)
Net Profit Margin = Answer
Total Liabilities-to-Equity Ratio = Answer
Answer:
Staples, Inc.
a. Indication of whether each account appears on the balance sheet (B) or income statement (I):
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 (I)
Accumulated depreciation 4,067 (B)
Depreciation expense 408 (I)
Retained earnings 6,694 (B)
Net income (loss) (211) (I)
Property, plant & equipment, net 6,030 (B)
Selling, general and admin expense 4,884 (I)
Accounts receivable 1,816 (B)
Total liabilities 6,144 (B)
Stockholders' equity 6,136 (B)
b) Total Assets = $3,779
Total Expenses = $5,292
c) Net Loss Margin = -0.87%
Total Liabilities-to-Equity Ratio = = 100.13%
Explanation:
a) Data and Calculations:
Total assets:
Accumulated depreciation (4,067) (B)
Property, plant & equipment, net 6,030 (B)
Accounts receivable 1,816 (B)
Total assets = $3,779
Total Expenses:
Depreciation expense 408 (I)
Selling, general and admin expense 4,884 (I)
Total expenses = $5,292
Net profit (loss) margin = $(211)/ $24,381 * 100 = -0.865%
Total liabilities-to-equity ratio = total liabilities/stockholders' equity * 100
= $6,144/$6,136 * 100
= 100.13%
Mary wants to get a more complete picture of her productivity, so she has collected the following information. In addition, she would like to get her answer in $/$, so she has included the piece price. All values are given per hour except for the piece price which is ________$/unit.
Output: 15
Piece price: $83/unit
Labor cost: $45
Capital cost: $100
Overhead: $46
Answer:
6.5183 or 6.52
Explanation:
The calculation is given below:
We know that
Productivity = Total output ÷ Total input
Given that
Total wage paid = 45
Total cost of material = 100
Overhead cost = 46
Now
Total output produced = 1245 (15 units × $83 per unit)
So,
Productivity = 1245 ÷ (45 + 100 + 46 )
= 6.5183 or 6.52
Debt levels across industries vary widely. Debt ratios in most countries are considerably less than 100 percent. Some firms use no debt. Capital structures are fairly constant across industries. Most corporations have relatively low debt-asset ratios.
Complete Question:
Which one of the following is not empirically correct?
A. Debt levels across industries vary widely
B. Debt ratios in most countries are considerably less than 100 percent.
C. Some firms use no debt.
D. Capital structures are fairly constant across industries.
E. Most corporations have relatively low debt-asset ratios.
Answer:
The not empirically correct statement is:
D. Capital structures are fairly constant across industries.
Explanation:
Instead, the capital structures across industries vary significantly. Firms with large asset investments tend to have more leverage than others with less asset investments. And this situation of having or not having large investments in assets cuts across firms in the same industry. This suggests that their capital structures will always vary not because of the industry but the choices made by the firm's management. Capital structures are also influenced by taxes and operating income uncertainties, which also vary within the same industry.
An economy is experiencing a high rate of inflation. The government wants to reduce consumption by $24 billion to reduce inflationary pressure. The MPC is 0.75. By how much should the government raise taxes to achieve its objective?
Answer:
It should raise up to 56 percent of taxes
Explanation:
List of ten household items (clothing, shoes, accessories, electronics, food (fruit is particularly good for this activity), etc.) that includes:
a. the name of the item
b. where it was made/produced/manufactured (country is usually all that is provided) . Identify and discuss the different infrastructure systems that facilitated the production, transportation, and your eventual purchasing of the product. Drawing on Massey’s "global sense of place," explain how these infrastructure system fold the global into the local (and vice versa, fold the local into the global).
Answer:
BR UH
Explanation:
what type of qs is this even
bannana
fridge
pencil
sink
spoon
fork
knife
sisscors
toaster
cup
bowl
bed
pillows
desk
door
tv
couch
chair
table
apple
grapes
cherries
peaches
napkins
toilet
A bank reconciliation reconciles the bank statement with the company's Multiple choice question. net cash flow in the statement of cash flows. net income in the income statement. cash account in the balance sheet. cash from operating activities.
Answer: cash account in the balance sheet.
Explanation:
A bank reconciliation reconciles the bank statement with the company's cash account in the balance sheet. Option C is the correct answer.
A bank reconciliation is a process that compares the company's cash records, specifically the cash account in the balance sheet, with the bank statement. It is performed to ensure that the company's recorded cash transactions match the bank's recorded transactions. Option C is the correct answer.
During a bank reconciliation, various items are compared, such as deposits in transit, outstanding checks, bank fees, and interest earned. The purpose is to identify any discrepancies or differences between the company's records and the bank's records. By reconciling the cash account in the balance sheet, the company can identify any errors or missing transactions, and make adjustments accordingly.
Learn more about Balance Sheet here:
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The complete question is, " A bank reconciliation reconciles the bank statement with the company's
a. net cash flow in the statement of cash flows.
b. net income in the income statement.
c. cash account in the balance sheet.
d. cash from operating activities."
Assume a pro rata reinsurance agreement with a 35% retention. Further assume a primary insurance contract with limits of $2,500,000, premiums of $20,000 and deductible $10,000. a)How much premium will the primary insurance company retain
Answer: $7000
Explanation:
Since there is a pro rata reinsurance agreement with a 35% retention, primary insurance contract with limits of $2,500,000, premiums of $20,000 and deductible $10,000, then the amount of premium that the primary insurance company will retain will be:
= Retention rate × Premium
= 35% × $20000
= 0.35 × $20000
= $7000
Project A requires a $280,000 initial investment for new machinery with a five-year life and a salvage value of $30,000. The company uses straight-line depreciation. Project A is expected to yield annual net income of $20,000 per year for the next five years. QS 26-6 Accounting rate of return LO P2 Compute Project A’s accounting rate of return.
Answer:
12.90%
Explanation:
Annual average investment = (Initial investment + Salvage value) / 2
Annual average investment = ($280000 + $30000) / 2
Annual average investment = $155,000
Accounting rate of return = Annual after-tax net income / Annual average investment
Accounting rate of return = $20,000 / $155,000
Accounting rate of return = 0.1290322581
Accounting rate of return = 12.90%
the black shoe company produces its famous madison shoe, which sell for $60m per pair, the operating income for 2020 is as follows: Revenues $300,000 Variable costs $120,000 Fixed costs $108,000
What is the break-even point in units?
You have the following information regarding a bond that pays semi-annual coupon payments: Time to maturity is 12 years Coupon Rate is 6% The current price (PV) of the bond is $1,189.14 today. Compute the I/T Periodic rate on the bond that is required by the market. State as a percent without using the percent sign and round to the second decimal place. Hence, 23.628% would be written as 23.63 for the response to be correct.
Answer: 2%
Explanation:
As the coupon payments are semi-annual, you need to convert the other measures to semi-annual measures as well.
Coupon rate = 6%/2 = 3% per semi annum
Coupon payment = 3% * 1,000 which is par value = $30
Time to maturity = 12 * 2 = 24 semi annual periods
Price is still the same = $1,189.14
You can use an Excel worksheet to solve for the Yield:
Number of periods = 24
Payment = $30
PV = 1,189.14
FV is par value of $1,000
Periodic rate is 0.019999
= 2%
The board of directors of a corporation: Multiple Choice Are elected by the corporate registrar. Are responsible for day-to-day operations of the business. Do not have the power to bind the corporation to contracts, due to lack of mutual agency.
Answer:
Are responsible for and have final authority for managing corporate activities.
Explanation:
Here are the complete options
The board of directors of a corporation:
a) Are elected by the corporate registrar.
b) Are responsible for day-to-day operations of the business.
c) Do not have the power to bind the corporation to contracts, due to lack of mutual agency.
d) May not also be executive officers of the corporation, due to the separate entity principle.
e) Are responsible for and have final authority for managing corporate activities.
A corporation is a business that is owned by shareholders. The corporation is a separate legal entity and so it can sue and be sued, pay taxes and own assets.
Advantages of a corporation include :
1. they have unlimited liabilities
2. they have unlimited life. the business doesn't end even after the death of the owners unlike a sole proprietorship
3. they have more access to capital
Disadvantages of a corporation include :
high cost of setting up
Earnings to shareholders are taxed twice
Managers of a corporation :
are elected by the shareholders of the firm they are responsible for and have final authority for managing corporate activities.Tech Solutions is a consulting firm that uses a job-order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm’s direct labor includes salaries of consultants that work at the client’s job site, and its overhead consists of costs such as depreciation, utilities, and insurance related to the office headquarters as well as the office supplies that are consumed serving clients. Tech Solutions computes its predetermined overhead rate annually on the basis of direct labor-hours. At the beginning of the year, it estimated that 55,000 direct labor-hours would be required for the period’s estimated level of client service. The company also estimated $302,500 of fixed overhead cost for the coming period and variable overhead of $0.50 per direct labor-hour. The firm’s actual overhead cost for the year was $321,300 and its actual total direct labor was 58,850 hours. Required: 1. Compute the predetermined overhead rate. 2. During the year, Tech Solutions started and completed the Xavier Company engagement. The following information was available with respect to this job: Direct materials $ 50,850 Direct labor cost $ 27,300 Direct labor hours worked 220 Compute the total job cost for the Xavier Company engagement.
Answer:
Tech Solutions
1. The predetermined overhead rate is:
= $6
2. The total job cost for the Xavier Company engagement is:
= $79,470
Explanation:
a) Data and Calculations:
Estimated direct labor-hours for the year = 55,000
Estimated fixed overhead cost = $302,500
Estimated variable overhead cost ($0.50 per DLH) = $27,500
Total overhead costs = $330,000 ($27,500 + $302,500)
Actual overhead cost for the year = $321,300
Actual total direct labor-hours = 58,850
Predetermined overhead rate = $6 ($330,000/55,000)
Xavier Company's Job:
Direct materials $ 50,850
Direct labor cost $ 27,300
Direct labor hours worked 220
Applied overhead = $1,320 ($6 * 220)
Total job cost = $79,470
= Variable overhead rate + fixed overhead rate
= $0.50 + ($302,500 ÷ 55,000 direct labor hours)
= $0.50 + $5.50
= $6.00
2. The total cost should be
= Direct material cost + direct labor cost + overhead cost
= $50,850 + $27,300 + ($6 × 220)
= $50,850 + $27,300 + $1,320
= $79,470
Therefore we can conclude that
The predetermined overhead rate is $6.00.The total job cost is $79,470.Learn more about the total cost here: brainly.com/question/13910351
The income statement of Martinez Company is shown below. MARTINEZ COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue $6,380,000
Cost of goods sold
Beginning inventory $2,080,000
Purchases 4,350,000
Goods available for sale 6,430,000
Ending inventory 1,460,000
Cost of goods sold 4,970,000
Gross profit 1,410,000
Operating expenses
Selling expenses 430,000
Administrative expenses 670,000 1,100,000
Net income $310,000
Additional information:
1. Accounts receivable decreased $300,000 during the year.
2. Prepaid expenses increased $150,000 during the year.
3. Accounts payable to suppliers of merchandise decreased $280,000 during the year.
4. Accrued expenses payable decreased $110,000 during the year.
5. Administrative expenses include depreciation expense of $70,000.
Required:
Prepare the operating activities section of the statement of cash flows for the year ended December 31, 2020, for Vince Gill Company, using the indirect method.
Answer:
Cash flow from operating activities
Net income $310,000
Adjustment to reconcile net income to
net cash provided by operating activities
Depreciation expense $70,000
Decrease in account receivable $300,000
Decrease in inventory $620,000
Increase prepaid expense -$150,000
Decrease account payable -$280,000
Decrease accured expense payable -$110,000 $450,000
Net cash outflow from operating activities $760,000
Explain (with theories support) the elements that can affect an individual behavior
Answer:
wow who has theory support THAT MENAS YOU HAVE wow but none of them has it
Explanation:
Social Cognitive Theory3,4
Bandura’s Social Cognitive Theory proposes that
people are driven not by inner forces, but by external factors. This model suggests that human functioning can be explained by a triadic interaction of
behavior, personal and environmental factors (see
figure 1). This is often known as reciprocal determinism. Environmental factors represent situational
influences and environment in which behavior is preformed while personal factors include instincts,
drives, traits, and other individual motivational forces. Several constructs underlie the process of human
learning and behavior change.3 These variables may also intervene in the process of behavior change4.
• Self-efficacy — A judgment of one’s ability to perform the behavior.
• Outcome Expectations — A judgment of the likely consequences a behavior will produce. The
importance of these expectations (i.e., expectancies) may also drive behavior.
• Self-Control — The ability of an individual to control their behaviors.
• Reinforcements — Something that increases or decreases the likelihood a behavior will continue
Stocks are a risky investment. Treasury Bills are a highly liquid and risk free investment whose interest income is not subject to state income taxes. Stocks have significantly outperformed Treasury Bills over the long term. In light of these higher returns, which best explains why an individual would invest in Treasury Bills vs. stocks
Answer: c. Preference for a very low risk investment would result in an individual choosing Treasury Bills over stocks despite lower expected returns.
Explanation:
Treasury bills offer little to no risk and would be perfect for people who do not want risky investments and are willing to receive a lower return in exchange for that lack of risk.
There are many reasons people would do this such as age where for instance, older people who are retired would prefer a steady source of income that they know is risk free as opposed to risky assets like stocks that could fail at any time.
The Canton Corporation shows the following income statement. The firm uses FIFO inventory accounting.
CANTON CORPORATION
Income Statement for 2013
Sales $340,100 (17,900 units at $19.00)
Cost of goods sold 205,850 (17,900 units at $11.50)
Gross profit $134,250
Selling and administrative expense 20,406
Depreciation 10,500
Operating profit $103,344
Taxes (30%) 31,003
Aftertax income $72,341
a. Assume in 2014 the same 17,900-unit volume is maintained, but that the sales price increases by 10 percent. Because of FIFO inventory policy, old inventory will still be charged off at $11.50 per unit. Also assume selling and administrative expense will be 6 percent of sales and depreciation will be unchanged. The tax rate is 30 percent.
a. Compute after-tax income for 2014. (Do not round intermediate calculations. Round your answer to the nearest whole number.)
b. In part a, by what percent did after-tax income increase as a result of a 10 percent increase in the sales price? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.)
c. Now assume that in 2015 the volume remains constant at 17,900 units, but the sales price decreases by 15 percent from its year 2014 level. Also, because of FIFO inventory policy, cost of goods sold reflects the inflationary conditions of the prior year and is $12.00 per unit. Further, assume selling and administrative expense will be 6 percent of sales and depreciation will be unchanged. The tax rate is 30 percent. Compute the after-tax income. (Round the sales price per unit to 2 decimal places but do not round any other intermediate calculations. Round your final answer to the nearest whole dollar amount.)
Answer:
The Canton Corporation
a. The After-tax income for 2014 is:
= $94,719.
b. The after-tax income increased by 30.93% as a result of a 10% increase in the sale price.
c. The after-tax income for 2015 is:
= $51,530.
Explanation:
a) Data and Calculations:
CANTON CORPORATION
Income Statement for 2013
Sales $340,100 (17,900 units at $19.00)
Cost of goods sold 205,850 (17,900 units at $11.50)
Gross profit $134,250
Selling and administrative expense 20,406
Depreciation 10,500
Operating profit $103,344
Taxes (30%) 31,003
After-tax income $72,341
CANTON CORPORATION
Income Statement for 2014
Sales $374,110 (17,900 units at $20.90)
Cost of goods sold 205,850 (17,900 units at $11.50)
Gross profit $168,260
Selling and administrative expense 22,446.60 (6% of sales)
Depreciation 10,500
Operating profit $135,313.40
Taxes (30%) 40,594.02
After-tax income $94,719.38
Increase in after-tax income:
After-tax income in 2014 = $94,719
After-tax income in 2013 = $72,341
Increase in after-tax income $22,378
Percentage increase = $22,378/$72,341 * 100 = 30.93%
Income Statement for 2015
Sales $317,993.50 (17,900 units at $17.77)
Cost of goods sold 214,800.00 (17,900 units at $12.00)
Gross profit $103,193.50
Selling and administrative expense 19,079.61 (6% of sales)
Depreciation 10,500
Operating profit $73,613.89
Taxes (30%) 22,084.17
After-tax income $51,529.72
After-tax income rounded to the nearest whole dollar = $51,530
Marley, age 70 and head of household (unmarried), had income of $37,000 and exclusions of $500. Marley had adjustments/deductions for AGI of $2,500, and his itemized deductions for the year totaled $21,000. Marley had a QBI deduction of $1,000. Marley is entitled to a tax credit of $2,000. Marley is deaf. What is Marley’s taxable income
Answer:
the taxable income is $12,000
Explanation:
The computation of the taxable income is given below:
Income $37,000
Less: Exclusions ($500)
Less: Adjustments/deductions ($2500)
Less: Itemised deductions ($21,000)
Less: QBI deduction ($1,000)
Taxable Income $12,000
Hence, the taxable income is $12,000
The same should be considered and relevant
Who's Candice?you get 61 points if you answer
Candice is a delightful young lady
Answer:
A strong ,courageous, beautiful , educated woman
Verer Custom Carpentry manufactures chairs in its Processing Department. Direct materials are included at the inception of the production cycle and must be bundled in single kits for each unit. Conversion costs are incurred evenly throughout the production cycle. Inspection takes place as units are placed into production. After inspection, some units are spoiled due to nondetectible material defects. Spoiled units generally constitute 4% of the good units. Data provided for March 20X5 are as follows:
WIP, beginning inventory 3/1/20X5 32,000 units
Direct materials (100% complete)
Conversion costs (85% complete)
Started during March 70,000 units
Completed and transferred out 80,000 units
WIP, ending inventory 3/31/20X5 18,000 units
Direct materials (100% complete)
Conversion costs (80% complete)
Costs:
WIP, beginning inventory:
Direct materials $70,000
Conversion costs 40,000
Direct materials added 105,000
Conversion costs added 128,160
Required:
What are the normal and abnormal spoilage units, respectively, for March when using FIFO?
Answer:
Verer Custom Carpentry
Processing Department
Normal spoilage units = 3,920
Abnormal spoilage units = 80
Explanation:
a) Data for March 20X5 and Calculations:
WIP, beginning inventory 3/1/20X5 32,000 units
Direct materials (100% complete)
Conversion costs (85% complete)
Started during March 70,000 units
Completed and transferred out 80,000 units
WIP, ending inventory 3/31/20X5 18,000 units
Direct materials (100% complete)
Conversion costs (80% complete)
Costs:
WIP, beginning inventory:
Direct materials $70,000
Conversion costs 40,000
Direct materials added 105,000
Conversion costs added 128,160
Spoilage units:
Units Direct materials Conversion
Beginning inventory 3/1/20X5 32,000 0 (0%) 6,400 (20%)
Started during March 70,000
Total units available 102,000
Completed and transferred 80,000
Ending inventory 3/31/20X5 18,000
Spoilage units = 4,000 (102,000 - 80,000 - 18,000)
Good units = 98,000 (80,000 + 18,000)
Normal spoilage units = 3,920 (98,000 * 4%)
Abnormal spoilage units = 80 (4,000 - 3,920)
Demonstrate the principles of health care finance for revenue management through the intended application of cost reporting and variances.
Solution :
Integration of all the processes:
Some integrated software system should be adopted where all the details about each patient along with the every billing and the payment details would help in keeping the track of the revenue.
Claims and billing management :
All the claims happened through some of the individuals or the company policies or the billing processes that take place to be accounted for the EHR system that can reduce the delays and also improve the effectiveness of the revenue management.
Documentation:
All the transactions should be documented, so there there are less chances for any error to occur.
An American clothing manufacturer has recently purchased a clothing factory in Taiwan. This action is known as ________.
Answer: Foreign Direct Investment / Direct Investing
Explanation:
When a foreign company buys a domestic company with the intent of owing it and managing it actively, the foreign company is said to have directly invested in the domestic country.
This is what the American clothing company has done so this qualifies as a direct investment into Taiwan. If the American company had simply purchased shares in a company in Taiwan, this would be a Foreign portfolio investment.
what role does planning play in public sector
Hello there! The answer is below.
Explanation:
Planning plays a very big role in the public sector. Planning lets you measure how big your response has to be to something, especially in business. It lets use utilize your resources and make as much as you need. When you plan in the public sector of marketing, you can also plan what to sell and align your priorities.
Answer:
Since the public sector is usually in charge of creating and directing defense, it also usually retains power over how troops are paid, training mechanisms, and rules of combat. Foreign policy is another area in which it is important to present a unified front through the public sector, in order to prevent conflicting treaties and agreements.
Explanation:
What are the four types of organization structures
Answer:
1. Functional
2. Divisional
3. Matrix
4. Flat
Explanation:
Have a nice day :)
Answer:
Four main organizational structure types are:
I. Functional
II. Divisional
III. Matrix
IV. Flat
Explanation:
I. Functional Structure:
Employees performing similar or similar tasks are grouped together in this structure. For example, the financial department consists of accountants, and the same is true in the departments of marketing, operations, and human resources. This structure makes quick decision-making possible because the members of the group have the same skills and interests to communicate easily and can improve their capacities by learning from each other.
II. Divisional Structure
This structure groups employee's by-products or projects that satisfy the requirements of a certain customer type. For example, a catering service restaurant could structure the staff in different departments, such as a wedding service or a department of wholesale retail services. Workers are divided in order to achieve maximum efficiency.
III Matrix Structure:
A matrix structure has a complex story structure since it combines both functional and divisional elements. It first divides employees by specialization, then divides them into departments by project and product. A lot of planning and effort is needed to make this structure but one e has increased the team's productivity, encourages innovation and creativity, and good decision-making.
IV Flat Structure:
The traditional top-down management system is prevented by a flat organizational structure. No concept of boss is in place, every employee is their own boss, eliminating bureaucracy and enhancing direct communication. An employee with an innovative idea or proposal, for example, does not contact every level of senior management in order for the manager to get the idea. The staff can communicate with each other directly at a peer level.
Travis Company purchased merchandise on account from a supplier for $11,100, terms 2/10, net 30 on December 26. Travis Company paid for the merchandise on December 31, within the discount period.
Required:
Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles.
Record the journal entries on each transaction. Refer to the Chart of Accounts for exact wording of account titles.
PAGE 1
JOURNAL
DATE DESCRIPTION POST. REF. DEBIT CREDIT
1
2
3
4
Answer and Explanation:
The journal entries are shown below:
On Dec 26
Inventory $11,100
To Accounts payable $11,100
(Being the purchase merchandise on account is recorded)
On Dec 31
Account payable $11,100
To Discount on account payable (2% of $11,100) $222
To Cash $10,878
(being the cash paid is recorded)
These two entries should be recorded
An elevator company has redesigned their product to be 50% more energy efficient than hydraulic designs. Two designs are being considered for implementation in a new building.
(a) Given an interest rate of 20% which bid should be accepted?
Alternatives
Installed cost
Annual cost
Salvage value
Life, in years
A
$45,000
2700
3000
10
B
$54,000
2850
4500
15
(b) Research and list a few attributes that the company might be using in the elevators' major systems drive, cab, hoist, and control mechanisms that make them more energy efficient.
Answer:
An Elevator Company
a) Given an interest rate of 20%, bid A should be accepted.
b) Attributes that make the Elevators More Energy Efficient:
1. software- and microprocessor-based controls without using electromechanical relays
2. in-cab sensors and software to automatically turn off lights, ventilation, and other facilities when not in use.
3. destination dispatch control software to batch elevator stops.
4. Using dispatch controls that rely on personalized calls instead of in-cab controls.
Explanation:
a) Data and Calculations:
Interest rate = 20%
Alternatives A B
Installed cost $45,000 $54,000
Annual cost 2,700 2,850
Salvage value 3,000 4,500
Life, in years 10 years 15 years
Present value
annuity factor 4.192 4.675
Discount factor 0.162 0.065
Present values:
Installed cost $45,000 $54,000
Annual cost 11,318 13,324
Salvage value (486) (293)
Net present cost $55,832 $67,031
Job 148 requires $12,000 of direct materials, $6,700 of direct labor, 550 direct labor hours, and 270 machine hours. It also requires 9 hours of inspection at $40 per hour. Manufacturing overhead is computed at $28 per direct labor hour used and $42 per machine hour used. The total amount of overhead allocated is: a. $34,100. b. $26,740. c. $45,440. d. $15,400.
Answer:
b. $26,740
Explanation:
The computation of the total amount of overhead allocated is shown below:
overhead allocated is
= (actual direct labor hour × overhead rate per direct labor hour) + (Actual machine hour × overhead rate per machine hour)
= (550 × 28) + (270 × 42]
= $15,400 + $11,340
= $26,740
hence, the total amount of overhead allocated is $26,740
A company needs 510,000 items per year. It costs the company $850 to prepare a production run of these items and $9 to produce each item. If it also costs the company $0.75 per year for each item stored, find the number of items that should be produced in each run so that total costs of production and storage are minimized. 33995 Incorrect: Your answer is incorrect. items/run
Answer:
20,824 units
Explanation:
850x + [ 0.75 - 510,000 ] / x
solving the equation we get,
[tex]x^{2}[/tex] = [ 0.75 - 510,000 ] / 850
x = 24.49
The number of items produced in each run should be;
510,000 / 24.49 = 20,824
Hardening A. You and your opponent calmly discuss the objective issues involved in the conflict. Fragmentation of the enemy B. Your opponent tells your coworkers that you lied to her about how much money was left in the budget that you both have been discussing how to manage. Images and coalitions C. Rather than discussing the issues the goal becomes winning. You try to mobilize your colleagues to support your position. Loss of face D. Communication with your opponent is ended as winning is no longer possible. The goal becomes outlasting your opponent and destroying her power base.
Answer:
A. Hardening.
B. Loss of face.
C. Images and coalitions.
D. Fragmentation of the enemy.
Explanation:
A conflict can be defined as any form of disagreement that arises between two or more parties due to opposing views, opinions, or incompatibility.
Some examples of the conflict escalation stage includes;
A. Hardening: you and your opponent calmly discuss the objective issues involved in the conflict. It involves having a fixed position on how an issue or conflict is to be handled.
B. Loss of face: your opponent tells your coworkers that you lied to her about how much money was left in the budget that you both have been discussing how to manage. It typically occurs when an individual is accused of lying and would result in attacking the opponent's public personality.
C. Images and coalitions: rather than discussing the issues the goal becomes winning. It involves the mobilization of colleagues to support one's position.
D. Fragmentation of the enemy: communication with your opponent is ended as winning is no longer possible. It's focused on outlasting an opponent and destroying the person's power base.
Each year Capital Two retains 75 percent of its customers, and the annual discount rate is 5 percent. What annual retention rate doubles the value of a customer?
Answer: 87.5%
Explanation:
Value of a Customer = Margin * Retention rate / (1 + Annual discount rate - Retention rate)
We shall assume a margin of 1 so no need to include it:
= 75% / ( 1 + 5% - 75%)
= 2.5
This value needs to double so assume the retention rate to double this is x and use the formula above to find it:
5 = x / (1 + 5% - x)
5 * (1 + 5% - x) = x
5 + 0.25 - 5x = x
5.25 = 5x+ x
6x = 5.25
x = 5.25 / 6
x = 87.5%