If a painter who is contracted to paint the exterior of a house does NOT finish the job, he has violated his duty to ________.

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Answer 1
Answer: If a painter who is contracted to paint the exterior of a house does NOT finish the job, he has violated his duty to perform.

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Tri-bikes manufactures two different levels of bicycles: the Standard and the Extreme. The total overhead of $300,000 has traditionally been allocated by direct labor hours, with 150,000 hours for the Standard and 50,000 hours for the Extreme.After analyzing and assigning costs to two cost pools, it was determined that machine hours is estimated to have $200,000 of overhead, with 4,000 hours used on the Standard product and 1,000 hours used on the Extreme product.It was also estimated that the setup cost pool would have $100,000 of overhead, with 1,000 hours for the Standard and 1,500 hours for the Extreme.A. What is the overhead rate per product under Traditional costing?What is the overhead rate under Absorption Costing for:B. The machine pool overhead rateC. The setup pool overhead rate
45) According to the text, the most logical budget-setting method in advertising is the method A) adaptive-control B) objective-and-task C) competitive-parity D) affordable E) percentage-of-sales 46) Which of the following is a disadvantage of using online, mobile, and social media for advertising? A) The costs are high B) Audience selectivity is low. C) The audience controls ad exposure. D) The interactive capabilities are low, I E) There is little scope for personalization
Anson Industries, Inc. reported the following information on its 20Y1 income statement: Sales.......................................... $4,000,000 Cost of goods sold................... 2,300,000 Operating expenses................. 1,000,000 Income tax expense................. 280,000 Other comprehensive income.. 450,000 a. Prepare an income statement, including comprehensive income, for Anson Industries. b. Prepare an income statement and a separate statement of comprehensive income for Anson Industries.
You’ve been asked to participate at a prestigious and well-attended annual conference within your industry. Your participation requires that you sit on a panel of experts during the keynote session of the conference. This session focuses on discussing key industry trends and challenges, and it is expected to draw a large and engaged crowd. The session will include brief presentations by each panelist, as well as a question-and-answer portion where you will respond to the audience. Which of the following aspects of effective communication should you give the most attention during the conference session?A. Establishing your credibility as an industry expert.B. Linking your comments to comments made by other panelists.C. Integrating evidence into your comments.D. Making sure that your viewpoints are clearly heard.
Anner Manufacturing is developing an activity-based costing system to improve overhead cost allocation. One of the first steps in developing the system is to classify the costs of performing production activities into activity cost pools. Classify the cost of each activity in the following list into unit-, batch-, product-, or facility-level cost pools:1. Labelling and packaging2. Plant Security3. Sales commission4. Supplies

The research and development division of Anchor Inc., a manufacturing firm, has a sizeable number of engineers for its employees. The buying decisions related to the equipment to be used in the research and development of new technologies is primarily made by the engineers. Based on these traits, which of the following organization-specific factors is most relevant in the division's purchasing process? a. Monopolization
b. Segmentation
c. Orientation
d. Centralization

Answers

Answer:

The correct answer is letter "C": Orientation.

Explanation:

The primary organization-specific factors are orientation, size of the organization, and degree of centralization. Orientation refers to the function of a company that controls the decisions in regards to purchases. The size of the organization implies decision making will be more centralized in larger firms while more decentralized in smaller firms. Finally, the degree of centralization states that even in highly autonomous corporations, some purchases might be subject to the approval of a manager who confirms the need for the assets being acquired.

Because in Anchor Inc. the purchase decisions are made by engineers the orientation organization-specific factor is more relevant in that company.

Your client, Brooke, decides to start saving for her son's college tuition. Her son was born today and will go to college at age 18 for four years. Brooke wants to save until her son's first year of college. Given the following information, what is the present value of the total amount that Brooke needs to have saved at the beginning of her son's first year of college? Current tuition: $15,000 Tuition inflation: 6.5% Brooke's investment return: 10%

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Answer:

The present value of the total amount that Brooke needs to have saved at the beginning of her son's first year of college is 31.959,13

Explanation:

Tuition Fees after inflation at

Year 18 = 15000* ( 1+6.5%)18 = 46599.8157

Year 19 = 15000* ( 1+6.5%)19 = 49628.8037

Year 20 = 15000* ( 1+6.5%)20 =  52854.6759

Year 21 = 15000* ( 1+6.5%)21 =  56290.2299

Since discount rate = 10%

So discount factor = 1+r = 1+10% = 1.1

Since fees are paid at beginning of period hence

Present Value of Fees = Fees (year 18)/1.1^18 +Fees at Year 19/1.1^19 +Fees at Year 20/1.1^20 + Fees at year 21/1.1^21 = 46599.8157/1.1^18 +  49628.8037/1.1^19 +  52854.6759/1,1^20 + 56290.2299^21 = 31959.13

It costs Fortune Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 1,000 scales at $15 each. Fortune would incur special shipping costs of $1 per scale if the order were accepted. Fortune has sufficient unused capacity to produce the 1,000 scales. If the special order is accepted, what will be the effect on net income?

a)$2,000 increaseb)$2,000 decreasec)$3,000 decreased)$15,000 increase

Answers

Answer:

c)$3,000 decrease

Explanation:

The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.

Considering the data given with respect to the special order, the net income would be equal to the sales less the additional cost which are variable and fixed.

net profit/(loss) from order

= 1000 ($15 - $5 - $12 - $1)

= ($3000)

Answer:

a)$2,000 increase

Explanation:

As fixed cost is the irrelevant expense in the decision making for the special order. It is avoidable cost.

Special Order

Quantity 1000 scales

Price                            $15 per sale

Less: Variable cost     $12 per sale

Less: Shipping cost    $1 per sale

Contribution margin   $2 per scale

Total Contribution margin = 1,000 scales x $2 per scale = $2,000

Net Income will increase by $2,000 if the special order is accepted.

1. How is inflation measured? Fill in the blanks to complete the passage about the CPI and the GDP deflator. The Consumer Price Index (CPI) and the GDP deflator are both price indices, so they both serve as measures of inflation. However, the CPI uses a smaller basket of goods. The GDP deflator aims to take into account all final goods and services, whereas the CPI only includes goods and services sold to –. So, for instance, prices on farm equipment are included in the – but not in the –.

Answers

Answer:

First blank: Consumers

Second blank: GDP

Third blank: CPI

Explanation:

The Consumer Price Index is used to measure the basic basket of services and goods that a normal person often buys in order to have a decent quality of life, the GDP includes all goods and services produced, for example all the office equipment, or farm equipment that was produced by a countries economy, the average customer doesn´t need farm equipment nor office equipment that is why it is not taken into account in the Costumer Price Index.

Final answer:

Inflation is measured using the Consumer Price Index (CPI) and the GDP deflator. The CPI measures price changes for a specific basket of goods and services bought by the typical consumer, while the GDP deflator considers all domestically produced final goods and services.

Explanation:

Inflation is typically measured using two indices known as the Consumer Price Index (CPI) and the GDP deflator. The CPI measures the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. Not all goods and services are included in the CPI, it primarily focuses on those sold to typical urban consumers.

On the other hand, the GDP deflator is a measure of the price of all domestically produced final goods and services in an economy including items like farm equipment, which are not included in the CPI. The GDP deflator takes a broader approach and doesn't restrict itself to a fixed basket of goods and services, rather reflects the current composition of output and the prices of all the goods and services currently produced domestically.

Learn more about Measure of Inflation here:

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Each of the following are classified as a noncash investing or financing activity except: a. retirement of debt by issuing stock
b. reissuing treasury stock
c. purchase of long-term assets by issuing bonds
d. purchase of noncash assets by issuing equity

Answers

Answer: b. reissuing treasury stock

Explanation:

Investing Activities in the Cashflow Statement refer to transactions that have to do with the buying and selling of Capital Goods such as Fixed Assets. It also refers to investments in other company bonds and stock.

Financing has to do with how the firm finances it's operations. These include long term debt and stock related transactions.

When these transactions are non-cash, it means quite rightly that no cash was exchanged and instead something else for exchanged instead of cash. For example, A non-cash Investing and Financing activity would be the purchase of long-term assets by issuing bonds.

In this question, option B being the reissuance of Treasury Stock is not a non-cash transaction. Treasury Stock is the company's own stock that it required from the market. By reissuing it, they will be doing so with cash involved. That is, people will buy the reissued shares and pay cash for them thus making it a Cash Financing Activity.

Suppose that the required reserve ratio is 8%. What is the simple money (deposit) multiplier? Round to two decimal places.Increasing the reserve ratio will _____ the multipliera. increaseb. decrease

Answers

Answer: Money multiplier is 12.50

Explanation: Money Multiplier is the amount of cash to be reserved.

It is calculated thus: 1/r where r is the rate

= 1/0.08= 12.50

Increasing the reserve ration will decrease the multiplier.