BUSINESS COLLEGE

Mars Inc. has a defined benefit pension plan. On December 31 (the end of the fiscal year), the company received the PB0 report from the actuary. The following information was included in the report: ending PBO, $110,000 benefits paid to retirees. $10,000, interest cost, $7,200. The discount rate applied by the actuary was 8%. What was the beginning PBO? A) $100,000
B) $112,000.
C) $90,000.
D) $107,200.

Answers

Answer 1
Answer:

Answer:

C) $90,000

Explanation:

Beginning PBO = Interest cost/Discount rate =

Beginning PBO = $7,200/8%

Beginning PBO = $90,000

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On January 1, a store had inventory of $48,000. January purchases were $46,000 and January sales were $90,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $7,500 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage. Label all figures.

Answers

Answer:

the amount of the fire loss is $16,000

Explanation:

The computation of the amount of the fire loss is shown below

January 1 inventory $48,000

Add purchases $46,000

Goods Available $94,000

Less Cost of Goods Sold ($90,000 × 100 ÷ 125) $72,000

Less Cost of undamaged goods ($7,500 × 100 ÷ 125) $6,000

Goods Lost by Fire $16,000

hence, the amount of the fire loss is $16,000

An investor can make an investment in a real estate development and receive an expected cash return of $45,000 at the end of six years. Based on a careful study of other investment alternatives, she believes that a 9 percent annual return compounded quarterly is a reasonable return to earn on this investment. How much should she pay for it today?

Answers

Answer:

FV= 45,000

I= 9/4=2.25

N=6*4=24

PMT=0

PV=?

Put these in financial calculator

$26,381 is what she should pay for the investment today.

Explanation:

Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie’s product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent $ 3,130 Company advertising 1,060 Wages paid to assembly workers 30,500 Depreciation for salespersons’ vehicles 2,200 Screws 535 Utilities for factory 845 Assembly supervisor’s salary 3,580 Sandpaper 185 President’s salary 5,180 Plastic tubing 4,050 Paint 285 Sales commissions 1,350 Factory insurance 1,170 Depreciation on cutting machines 2,000 Wages paid to painters 7,550 Assume that Suzie Whitson has decided to begin production of her outdoor children’s toy. Required: 1 and 2. Identify each of the preceding costs as either a product or a period cost. If the cost is a product cost, decide whether it is for direct materials (DM), direct labor (DL), or manufacturing overhead (MOH) and also identify each of the preceding costs as variable or fixed cost

Answers

Factory rent -$ 3,130- Product - MOH - Fixed

Company advertising- 1,060- Period - Variable

Wages paid to assembly workers -30,500- Product - DL - Variable

Depreciation for salespersons’ vehicles- 2,200- Period - Fixed

Screws- 535- Product - DM - Variable

Utilities for factory -845-Product - MOH - Variable

Assembly supervisor’s salary -3,580- Product - MOH - Fixed

Sandpaper- 185- Product - MOH - Variable

President’s salary -5,180- Period - Fixed

Plastic tubing- 4,050- Product - MOH - variable

Paint -285- Product - DM - Variable

Sales commissions- 1,350- Period - Variable

Factory insurance- 1,170- Product - MOH - fixed

Depreciation on cutting machines- 2,000- Product - MOH - Fixed

Wages paid to painters -7,550-  Product - DL - Variable

  •  Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.

  • Direct labor is production or services labor that is assigned to a specific product, cost center, or work order.  

  • Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured.

  • Period costs are not directly tied to the production process. Overhead or sales, general, and administrative costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

  • Product costs are the direct costs involved in producing a product. A manufacturer would have production costs that include- Direct labor, Raw materials, Manufacturing supplies, Overhead that's directly tied to the production facility such as electricity.

  • Variable cost is a corporate expense that changes in proportion to production output.

  • Fixed cost is a cost that does not change with an increase or decrease in the number of goods or services produced or sold.

 

 

 To know more about the variable costs, and the fixed cost, refer to the link below:

brainly.com/question/13284961

Answer:

Factory rent $ 3,130: Product - MOH - Fixed

Company advertising 1,060: Period - Variable

Wages paid to assembly workers 30,500: Product - DL - Variable

Depreciation for salespersons’ vehicles 2,200: Period - Fixed

Screws 535: Product - DM - Variable

Utilities for factory 845: Product - MOH - Variable

Assembly supervisor’s salary 3,580: Product - MOH - Fixed

Sandpaper 185: Product - MOH - Variable

President’s salary 5,180: Period - Fixed

Plastic tubing 4,050: Product - MOH - variable

Paint 285: Product - DM - Variable

Sales commissions 1,350: Period - Variable

Factory insurance 1,170: Product - MOH - fixed

Depreciation on cutting machines 2,000: Product - MOH - Fixed

Wages paid to painters 7,550:  Product - DL - Variable

Explanation:

- Direct materials are those materials and supplies that are consumed during the manufacture of a product, and which are directly identified with that product.

- Direct labor is production or services labor that is assigned to a specific product, cost center, or work order.  

- Manufacturing overhead refers to indirect factory-related costs that are incurred when a product is manufactured.

- Period costs are not directly tied to the production process. Overhead or sales, general, and administrative (SG&A) costs are considered period costs. SG&A includes costs of the corporate office, selling, marketing, and the overall administration of company business.

- Product costs are the direct costs involved in producing a product. A manufacturer, for example, would have production costs that include: Direct labor, Raw materials, Manufacturing supplies, Overhead that's directly tied to the production facility such as electricity.

- Variable cost is a corporate expense that changes in proportion to production output.

- Fixed cost is a cost that does not change with an increase or decrease in the amount of goods or services produced or sold.

In this exercise:

Factory rent $ 3,130: Product - MOH - Fixed

Company advertising 1,060: Period - Variable

Wages paid to assembly workers 30,500: Product - DL - Variable

Depreciation for salespersons’ vehicles 2,200: Period - Fixed

Screws 535: Product - DM - Variable

Utilities for factory 845: Product - MOH - Variable

Assembly supervisor’s salary 3,580: Product - MOH - Fixed

Sandpaper 185: Product - MOH - Variable

President’s salary 5,180: Period - Fixed

Plastic tubing 4,050: Product - MOH - variable

Paint 285: Product - DM - Variable

Sales commissions 1,350: Period - Variable

Factory insurance 1,170: Product - MOH - fixed

Depreciation on cutting machines 2,000: Product - MOH - Fixed

Wages paid to painters 7,550:  Product - DL - Variable

The annual interest rate on a credit card is 17.99%. If a payment of $200.00 ismade each month, how many months will it take to pay off an unpaid balance of
$2,470.04?

Answers

Answer:

It would take a total of 14.572001 Months to pay off the balance, with interest

Explanation:

$2470.04 Would take 12.6 months to pay off, therefore, you must apply 17.99% yearly interest to this figure.

$2470.04 * .1799 = $444.36 interest

Principal + interest = total

$2470.04 + $444.36=  $2914.4

$2914.4 / $200 = 14.57 months

Final answer:

The calculation of how many months it would take to repay a credit card balance, given an annual interest rate and a fixed monthly repayment, is not straightforward due to the compounding effect of interest. However, without considering interest, this would update around 12.35 months to pay off the balance of $2,470.04 with a monthly payment of $200.

Explanation:

The question relates to the concept of credit card debt repayment. Given an annual interest rate of 17.99%, a monthly payment of $200.00, and a balance of $2,470.04, it will take significantly longer than just dividing $2,470.04 by $200 to pay off the debt. This is because the annual interest rate is compounding on the remaining balance every month.

In order to calculate the exact number of months it would take to pay off the credit card, we'd need to set up and solve a complex mathematical equation which requires a good understanding of logarithms and algebra. In this case, it is best to use a financial calculator or an online credit card repayment calculator. However, on a simple base without accounting for interest, by dividing the balance of $2,470.04 by the monthly payment of $200, it would take approximately 12.35 months to pay off the debt. However, due to the added interest, the actual number of months would likely be greater.

Learn more about Debt repayment here:

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The Acmeville Metropolitan Bus Service currently charges $0.88 for an all-day ticket, and is used by an average of 433 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $0.99. The marketing department\'s studies indicate this price increase would reduce usage to 169 riders per day. Calculate the price elasticity of demand for bus tickets to determine if the bus company should increase price or decrease price to increase revenues.Price elasticity of demand is? 7.45 I get but on the online hw, it says its wrong? I tried 7.5 too? I used the midpoint formula (q2-q1)/((q2+q1)/2) / (p2-p1)/((p2+p1)/2)

Answers

Answer:

Midpoint formula = - 7.43

Other formula = - 4.88

Elastic PED - Decrease price to increase total revenue

Explanation:

Price elasticity of demand is the responsiveness of quantity demanded to a change in price. The midpoint formula calculation is as follows:

(Q2 - Q1) / [(Q2 + Q1/2]

(P2 - P1) / [(P2 + P1/2]

In this scenario:

Q1 = 433 (old quantity)

Q2 = 169 (new quantity)

P1 = 0.88 (old price)

P2 = 0.99 (new price)

When this is substituted into the formula, it is as follows (I shall do it one step at a time to make it easier):

(169 - 433) / [(169 + 433/2]

(0.99 - 0.88) / [(0.99 + 0.88/2]

(169 - 433) / 301

(0.99 - 0.88) / 0.935

- 264 / 301

0.11 / 0.935

- 0.877

0.118

PED =- 7.43(PED is always a negative figure because price and quantity demanded have an inverse relationship. i.e. when one falls, the other rises)

PED is elastic if it is more than 1 and elastic if it is less than 1.

In this case, 5.8 is more than 1, hence PED is elastic.

In such a case, a change in price will always lead to a higher change in quantity demanded. Therefore, it is important to decrease the price to increase total revenue.

However, a different answer can be obtained using a different PED calculation

% change in quantity demanded

% change in price

(Q2 - Q1) / Q1

(P2 - P1) / P1

(433 - 169) / 433

(0.99 - 0.88) / 0.88

0.61

0.125

PED = - 4.88

What is the effect of contractionary fiscal policy in the short run?​

Answers

Answer:

D. It will decrease the output level

Explanation:

Answer: d

Explanation:

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