The increase in sales needed to maintain the same gross profit margin in absolute dollars is equal to the initial sales level, which is $1.00 * Quantity.
To determine the increase in sales needed to maintain the same gross profit margin in absolute dollars, we can follow these steps:
Calculate the current gross profit:
Gross profit = Sales - Cost of Goods Sold
Since the gross profit margin is given as 65%, we can assume the cost of goods sold is 35% of the sales.
Let's set the initial price at $1.00 for simplicity.
Initial Sales = Initial Price * Quantity = $1.00 * Quantity
Initial Cost of Goods Sold = 35% * Initial Sales = 0.35 * ($1.00 * Quantity) = $0.35 * Quantity
Current Gross Profit = Initial Sales - Initial Cost of Goods Sold = $1.00 * Quantity - $0.35 * Quantity = $0.65 * Quantity
Calculate the new price after the 5% reduction:
New Price = Initial Price - (Initial Price * 5%) = $1.00 - ($1.00 * 0.05) = $0.95
Calculate the new gross margin percentage:
New Gross Margin Percentage = (New Price - Cost of Goods Sold) / New Price
Since the gross profit margin remains the same, the new gross margin percentage should also be 65%.
Calculate the new sales level needed to maintain the original gross profit margin in absolute dollars:
New Sales = (Current Gross Profit / New Gross Margin Percentage) + Initial Cost of Goods Sold
New Sales = ($0.65 * Quantity) / 0.65 + $0.35 * Quantity
New Sales = $0.65 * Quantity + $0.35 * Quantity = $1.00 * Quantity
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A bond is actually a(n) _____. (Select all that apply.)
investment
short-term instrument
type of security
debt instrument
If a company mistakenly counts less items during a physical inventory than actually exist, how will the error affect the cost of merchandise sold?.
The error will be declared as overstated.
What is overstated?
If an account or a figure on an account is inflated, the amount represented on the financial statement will be more than it should be.
Auditors will question the board of directors of the corporation to explain why non-current assets in the accounts were exaggerated and not represented at their recoverable amount.
Preproduction expenses for the fiscal year 2010 were inflated by almost $4 million, totaling $55.4 million.
If an account or a figure on an account is inflated, the amount represented on the financial statement will be more than it should be.
The phrase "overstated" has two meanings when used by an accountant:
1. The reported sum is inaccurate, and
2. The amount that was reported exceeds what is true or accurate.
Another account will also have an inaccurate balance in a double-entry accounting or bookkeeping system.
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If a company mistakenly counts less items during a physical inventory than actually exist, how will the error affect the cost of merchandise sold?
Omega technology is starting production of a new supercomputer for use in large research universities. They have just completed the first unit, which took 110 man-hours to produce. Based on their experience, they estimate their learning percentage to be 87 percent. How many man-hours should they expect the second unit to require to manufacture?
Answer: 95.7 hours
Explanation:
Let's assume that the second unit will require y labor hours.
Learning percentage = 87% = 0.87
For production of two units, the learning percentage will be:
= y/110
We then equate and this will be:
y/110 = 0.87
y = 110 × 0.87
y = 95.7
Therefore, 95.7 hours will be needed to make the second unit
Is the sales manager a subordinate? explain why?
A cost reimbursement contract to build a single prototype refrigeration unit has a contract cost of $25M. What is the Department of Defense (DoD) policy on requiring Earned Value Management (EVM) on this contract?
a. Apply EVM; a formal Earned Value Management System (EVMS) validation is not required.
b.Apply EVM; a formal Earned Value Management System (EVMS) validation is required.
c. Only apply EVM if the Milestone Decision Authority (MDA) approves a waiver.
d, EVM is not required
a. Apply EVM; a formal Earned Value Management System (EVMS) validation is not required.
Does the DoD policy require formal EVMS validation for applying EVM on a cost reimbursement contract to build a single prototype refrigeration unit with a contract cost of $25M?
Earned Value Management (EVM) is a project management technique used to measure project performance and progress in an objective manner. It integrates the project's scope, schedule, and cost to provide insights into project health and performance. In the context of the Department of Defense (DoD), EVM plays a crucial role in monitoring and managing defense contracts.
According to DoD policy for the given scenario, the correct answer is option a: Apply EVM; a formal Earned Value Management System (EVMS) validation is not required. This means that EVM should be applied to track and assess the progress and performance of the contract to build a single prototype refrigeration unit with a contract cost of $25M. However, a formal EVMS validation is not necessary, indicating that the DoD does not require the contractor to undergo a specific validation process for their Earned Value Management System.
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Earned Value Management (EVM) is a widely used project management technique that helps track project performance by integrating scope
Multicall sales presentations are common in many areas, but not in the retail field.True False
False. Multicall sales presentations are common in many areas, but not in the retail field.
Multicall sales presentations are also common in the retail field, especially in the context of direct selling or door-to-door sales. In this approach, a salesperson visits a potential customer's home or workplace and delivers a sales pitch for a product or service. This may involve multiple visits or calls to build rapport and persuade the customer to make a purchase. However, multicall sales presentations are not exclusive to the retail field and can be found in other industries as well.
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_____ allows industries, organizations, and companies to approach business decisions from different perspectives. Arbitration Ergonomics Tolerance Workforce diversity
Answer:
Workforce diversity
Explanation:
Workforce diversity refers to similarities and differences between employers and employees in terms of their race, religion, gender, perspectives and opinions.
Diversity is important for every industry, organization, and company since people have different perspective and views, they approach business problems differently, leading to different solutions. Diversity leads to increase profits, creativity, wide range of skills e.t.c.
Question 2(Multiple Choice Worth 5 points)
(02.06 MC)
In general, what kind of people earn the most money?
O People with skills that are in high demand and high in supply
O People with skills that are in high demand but low in supply
O People with skills that are in low demand and low in supply
People with skills that are in low demand but high in supply
Which one of the following is the least similar with others in its structural characteristics? → (1) ETF; (2) Warehouse Receipt; (3) Claim Check; (4) Depository Receipt; (5) Collateralized Debt Obligations; (6) Mortgage-backed Securities; (7) Certificate o f Deposit
Among the options provided, the least similar in its structural characteristics compared to the others is Collateralized Debt Obligations (CDOs).
The other options listed (ETF, Warehouse Receipt, Claim Check, Depository Receipt, Mortgage-backed Securities, Certificate of Deposit) are all types of financial instruments or documents that represent ownership or claims to underlying assets, with varying degrees of liquidity and transferability.
On the other hand, Collateralized Debt Obligations (CDOs) are structured financial products that pool together various types of debt obligations, such as bonds or loans, and then divide them into different tranches based on their risk and return characteristics. The tranches have different levels of priority for receiving cash flows from the underlying debt instruments, and investors can buy into specific tranches based on their risk appetite. CDOs are often associated with the securitization of mortgages or other forms of debt.
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What type of material is a land resource in the production process?
Everything that derives from the land, including all natural resources needed to create goods and services, is referred to as "land." Natural resources such as water, oil, copper, natural gas, coal, and forests are examples of common land. The production process uses land resources as its raw materials.
What is production process?Industrial processes are actions that involve chemical, physical, electrical, or mechanical phases to help with the production of an object or things, typically done on a very large scale. The foundation of heavy industry is industrial processes. In order to offer consumers with goods and services, a production process is a way of using economic input or resources, such as labour, expensive machinery, or land. A production process typically entails all the processes a facility might take to establish production quotas, develop and assemble products, and then distribute them to clients or independent retailers. Various manufacturing methods and procedures, such as 3D printing, joining, or casting, may be included.To learn more about production process, refer to:
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Cody worked 59 hours last week. Of those hours, 40 hours were paid at the regular rate of $12.50. Ten hours were paid at time-and- a-half, and 9 hours at the double-time rate.
a) What was the gross pay for regular hours?
b) What was Cody’s overtime wages?
c) What was Cody’s total gross pay for the week?
Answer:
Explanation:
a. What was the gross pay for regular hours?
This will be the regular pay multiplied by the regular hours. This will be:
= $12.50 × 40
= $500
b) What was Cody’s overtime wages?
Cody's overtime wages will be the total amount earned during overtime. This will be:
= [10 × ($12.50 × 1.5)] + [ 9 × ($12.50 × 2)]
= (10 × $18.75) + (9 × $25)
= $187.50 + $225.
= $412.50
c) What was Cody’s total gross pay for the week?
The total gross pay for the week will be the addition of the amount that was earned during regular hours and overtime. This will be:
= $500 + $412.50
= $912.50
Lee bought 130 shares of a mutual fund with a NAV of $13.10. This fund also has a load charge of 8.5%. What did Lee pay for his investment?
If Lee bought 130 shares of a mutual fund with a NAV of $13.10 and this fund also has a load charge of 8.5%, then Lee paid $1,847.76 for his investment in the mutual fund.
How to calculate?To calculate what Lee paid for his investment, we need to take into account the load charge of 8.5%. First, we multiply the number of shares (130) by the NAV ($13.10) to get the total value of the investment before the load charge:
130 x $13.10 = $1,703
Next, we calculate the load charge by multiplying the total value of the investment by 8.5%:
$1,703 x 0.085 = $144.76
Finally, we add the load charge to the total value of the investment before the load charge to get the total cost of the investment:
$1,703 + $144.76 = $1,847.76
Therefore, Lee paid $1,847.76 for his investment in the mutual fund.
It's important to consider load charges when making investment decisions as they can significantly impact the total cost of the investment.
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The United States enjoys a free market economy in which _____.
(A)most economic decisions are made by the central government
(B)the states have all of the authority to make economic decisions regarding businesses that do not operate across state lines
(C)most economic decisions are allowed to occur naturally as a result of market changes made by government intervention
(D)none of the above
(E)all of the above
Does it matter how business products are made?
Products that are excluded from the requirement to designate the country of origin include those that are too small to be marked or those that could be harmed by labeling. In this case, the country of origin logo must be visible on the product package.
Why is knowing where your items are created important?This label would enable consumers to make more informed decisions when buying manufactured goods. We also need to be aware of the place of the manufacturing process in order to protect ourselves from harmful, unsafe, substandard, and false items.
Is knowing about each of your goods truly necessary?The most important tool for sales is product expertise. It might be difficult to convince a customer that the products you are trying to offer them will suit their needs by emphasizing their advantages or disadvantages. This involves knowing your competitors, your advantages, and the cold, hard facts.
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vteps, inc. currently sells an educational product and is able to control the demand for the product by varying the selling price. the approximate relationship between price and demand is p
VTEPS, Inc. has observed a relationship between the selling price of its educational product and the corresponding demand. As the selling price varies, it affects the level of demand for the product. The approximate relationship between price and demand can be described as follows:
As the selling price increases, the demand for the educational product tends to decrease. Conversely, when the selling price decreases, the demand for the product tends to increase. This suggests an inverse relationship between price and demand, where higher prices result in lower demand and lower prices lead to higher demand.
It is important to note that the relationship between price and demand may not be a perfect one-to-one correlation. Other factors, such as competitors' pricing, consumer preferences, marketing efforts, and economic conditions, can also influence the demand for the educational product. VTEPS, Inc. can utilize this understanding of the price-demand relationship to optimize its pricing strategy and maximize profitability.
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Marginal revenue is the change in total revenue resulting from the sale of the last unit. The marginal revenue generated from selling the 21st jacket is
To determine the marginal revenue generated from selling the 21st jacket, we need to have information about the total revenue generated from selling the previous 20 jackets and the 21st jacket.
Let's assume that the total revenue generated from selling 20 jackets is $500 and the total revenue generated from selling 21 jackets is $525.
Marginal revenue = Change in total revenue / Change in quantity sold
Change in total revenue = $525 - $500 = $25
Change in quantity sold = 21 - 20 = 1
Therefore, "the marginal revenue generated from selling the 21st jacket is $25...
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Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below.
Account Title Debits Credits
Cash35,500
Accounts receivable43,000
Supplies3,000 Inventory63,000
Notes receivable23,000
Interest receivable0
Prepaid rent2,500
Prepaid insurance9,000
Office equipment92,000
Accumulated depreciation 34,500
Accounts payable 34,000
Salaries payable 0
Notes payable 53,000
Interest payable 0
Deferred sales revenue 3,500
Common stock 81,000
Retained earnings 36,000
Dividends7,000
Sales revenue 161,000
Interest revenue 0
Cost of goods sold85,000
Salaries expense20,400
Rent expense12,500
Depreciation expense0
Interest expense0
Supplies expense2,600
Insurance expense0
Advertising expense4,500
Totals 358,600 358,600 Information necessary to prepare the year-end adjusting entries appears below.1. Depreciation on the office equipment for the year is $10,300.2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $900.3. On October 1, 2021, Pastina borrowed $50,600 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years.4. On March 1, 2021, the company lent a supplier $20,600 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022.5. On April 1, 2021, the company paid an insurance company $6,600 for a one-year fire insurance policy. The entire $6,600 was debited to prepaid insurance.6. $560 of supplies remained on hand at December 31, 2021.7. A customer paid Pastina $2,300 in December for 900 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue.8. On December 1, 2021, $1,200 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $600 per month. The entire amount was debited to prepaid rent.Prepare closing entries.
The necessary December 31, 2021, adjusting journal entries are: Debit Depreciation expenses $10,300, Credit Accumulated depreciation $10,300.
Journal entriesPastina Company Adjusting entries
Debit Depreciation expenses $10,300
Credit Accumulated depreciation $10,300
Debit Wages expense $900
Credit Wages payable $900
Debit Interest expense $1,518
($50,600 × 12% × 3/12)
Credit Interest payable $1,518
Debit Interest receivable $1,373
($20,600 × 8% × 10/12)
Credit Interest revenue
Debit Prepaid insurance $4,125
($6,600 × 15/24)
Credit Insurance expense $4,125
Debit Supplies expense $340
($900 − $560)
Credit Supplies $340
Debit Sales revenue $2,300
Credit Unearned revenue $2,300
Debit Rent expense $600
Credit Prepaid rent $600
Therefore the necessary December 31, 2021, adjusting journal entries are: Debit Depreciation expenses $10,300, Credit Accumulated depreciation $10,300.
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The right to own a business is referred to as the right ___.
of free enterprise
of private property
of competition
of freedom of choice
to earn a profit
Of free enterprise
Explanation:
You are going to interview for a position for which you have less experience and background than fellow candidates. You know, however, that you are the right person for the job. Which interview format would be the most appropriate for you to prove your worth?
Answer: Oral interview
Explanation:
One of the best ways to sell yourself or pitch before a council seated to examining job hunters is by oral interview. During an oral interview, candidates for the job are ask to sell themselves as regards why they think they are best fit for the job, in most cases the qualifications of the candidate plays little or no vital role when they can't defend what they have or can't sell themselves enough to be seen capable for the job.
You do not need to include the $8.00 bank charge on your bank reconciliation. (true/false)
Answer:
False, banks do have a service charge that include monthly fees, etc.
Answer:
False is the answer.
Explanation:
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Collaboration between two or more organizations that lowers costs and reduces manual effort among employees is enabled by a(n) _____.
An interorganizational information system is enables by relation between organizations to lowers costs and reduces manual effort among employees.
What is an interorganizational information system?This system refers to any form of shared information system among a group of companies..
In conclusion, this system allows an interchange of electronic data that allows fast computer-to-computer transfer of information.
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Star Corporation reported the following standards for direct material for the year: Standard cost per gram $64.50/gram Standard quantity per unit 8 grams per unit In the past month, the company purchased 9,000 grams of material at a total cost of $577,800. A total of 8,600 grams were used to produce 1,000 units. Calculate the direct material price variance and the direct material quantity variance. What is the total direct material variance
The direct material price variance and direct material quantity variance are calculated by using the following formulae:
Direct Material Price Variance (DMPV) = (Standard price - Actual price) x Actual quantityDirect Material Quantity Variance (DMQV) = (Standard quantity - Actual quantity) x Standard priceDirect material usage variance (DMUV) = (SQ x SP) - (AQ x AP)DMPV= (Standard price - Actual price) x Actual quantity= ($64.50 - $64.20) x 9,000= $270 favorable varianceDMQV= (Standard quantity - Actual quantity) x Standard price= (8 - 8.6) x $64.50= $39.9 unfavorable varianceDMUV = (SQ x SP) - (AQ x AP)= (8,000 x $64.50) - (8,600 x $64.20)= $32,700 favorable varianceTotal Direct Material Variance = DMPV + DMQV + DMUV= ($270) + (-$39.9) + $32,700= $32,930.1 favorable varianceAnswer:Direct Material Price Variance (DMPV) = ($270)Direct Material Quantity Variance (DMQV) = (-$39.9)Total Direct Material Variance = $32,930.1
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Explain the difference between a job interview and a interview
Answer:
An interview is a procedure designed to obtain information from a person through oral responses to oral inquiries. An interview is the way of face to face conversation between the interviewer and the interviewee, where the interviewer seeks replies from the interviewee for choosing a potential human resource.
Explanation:
Marketers who attempt to influence and change the various environmental forces have a(n) _____ response to these forces.
a) reactive
b) inactive
c) variable
d) positive
e) proactive
The correct answer is (e) proactive. Marketers who attempt to influence and change the various environmental forces have a proactive response to these forces.
A proactive response means taking proactive action to anticipate and shape the environmental forces to their advantage. Rather than simply reacting to changes in the environment, proactive marketers actively seek opportunities to influence and modify those forces. By proactively monitoring the market, identifying trends, and anticipating changes, marketers can take proactive steps to adapt their strategies, products, and services. They may engage in market research, develop new products or services, adjust pricing and promotion strategies, and forge partnerships or alliances to stay ahead of the competition and effectively respond to the changing environment. Proactive marketers are forward-thinking and actively seek to create change rather than passively accepting or reacting to environmental forces. They aim to shape the market rather than be solely influenced by it, allowing them to seize opportunities and maintain a competitive edge.
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Noel was assigned a group project in class. What benefit will Noel get from working with a team?
A Independence
B Increased creativity
D Easy class credit
C Easy decision making
Answer:
B Increased creativity
Explanation: got test
When the decision maker prefers a guaranteed payoff value that is smaller than the expected value of the lottery, the decision maker is
Answer:
Risk avoider
Explanation:
Answer to the following question is risk avoider;
A risk avoider is someone who makes decisions because they are afraid to make mistakes. A risk avoider is a person who exclusively examines options that do not contain any hazards. A risk avoider avoids making actions that might result in a disastrous outcome.
What do you see as the future of branding? How will the roles of brands change? What different strategies might emerge for building, measuring, and managing brand equity in the coming years? What do you see as the biggest challenges?
The future of branding is likely to be more personalized, data-driven, dynamic, and interactive.
How will roles in brands change ?Brands will need to become more personalized in order to connect with consumers on a deeper level. Brands will need to become more data-driven in order to make better decisions about everything from product development to marketing campaigns.
Brands will need to create and nurture brand communities in order to build deeper relationships with consumers. These communities can be built around social media, online forums, or even in-person events.
The biggest challenges facing brands in the future include:
The rise of new technologies: New technologies, such as artificial intelligence and augmented reality, are changing the way consumers interact with brands.The fragmentation of the market: The market is becoming increasingly fragmented, with consumers having more choices than ever before.Find out more on branding at https://brainly.com/question/29419032
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Cori's Meats is looking at a new sausage system with an installed cost of $505,000. This cost will be depreciated straight-line to zero over the project’s five-year life, at the end of which the sausage system can be scrapped for $75,000. The sausage system will save the firm $185,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $34,000. If the tax rate is 25 percent and the discount rate is 8 percent, what is the NPV of this project?
NPV
NPV stands for net present value which is a financial measure that calculates the difference between the present value of cash inflows and the present value of cash outflows over time. The net present value (NPV) of a project indicates the profitability of a project by determining the current value of future cash flows based on the project's projected cash flows and discounting it to the present value, considering the time value of money.
Cori's Meats is evaluating the new sausage system with an installed cost of $505,000. This cost will be depreciated straight-line to zero over the project's five-year life, at the end of which the sausage system can be scrapped for $75,000. The sausage system will save the company $185,000 each year in pretax operating expenses, and the system requires an initial investment in net working capital of $34,000. The tax rate is 25%, and the discount rate is 8%.
The NPV can be computed by first estimating the cash inflows and outflows for each year. In this case, the cash flows for year 0 to year 5 are as follows:
Year 0: ($505,000+$34,000)
= -$539,000 (Initial Investment)
Year 1: $185,000
Year 2: $185,000
Year 3: $185,000
Year 4: $185,000
Year 5: $185,000+$75,000 (salvage value) = $260,000
The net cash flow for each year can be calculated by subtracting the operating costs from the operating savings and then subtracting the depreciation charge. The following formula can be used to determine the net cash flows:
Net cash flow = Operating savings - Operating costs - Depreciation charge The depreciation charge per year can be calculated by dividing the initial investment by the number of years of the project's life:
Depreciation charge per year
= Initial investment / Project life
= $505,000 / 5
= $101,000 Therefore, the net cash flow for each year can be calculated as follows:
Year 0: - $539,000
Year 1: $185,000 - $0.25($185,000+$101,000) = $93,000
Year 2: $185,000 - $0.25($185,000+$101,000) = $93,000
Year 3: $185,000 - $0.25($185,000+$101,000) = $93,000
Year 4: $185,000 - $0.25($185,000+$101,000) = $93,000
Year 5: $260,000 - $0.25($260,000+$101,000) = $163,500
The present value of each year's net cash flow can be calculated using the formula: Present value = Cash flow / (1 + discount rate) ^ year For example, the present value of the net cash flow in year 1 is:
Present value of year 1 cash flow = $93,000 / (1 + 0.08) ^ 1= $86,111
Similarly, the present values of the other cash flows can be calculated, and the total present value can be calculated by adding all of the present values. The total present value is the net present value (NPV) of the project. The NPV of the project can be calculated by adding up all of the present values of cash inflows and outflows over the project's life, as shown below:
NPV = - $539,000 + $86,111 + $79,731 + $73,682 + $67,952 + $124,813
= $93,289
Based on these calculations, the NPV of the project is $93,289, which is positive. Therefore, investing in the sausage system is a good decision for Cori's Meats.
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Question 3 of 25
Which of the following statements best explains why some people get life
insurance and others don't?
A. Life insurance is a cost that has no direct benefit.
B. Some people have more than one life-insurance policy.
C. Different people are willing to face different kinds of risks.
D. Some life insurance companies go out of business before you die.
if lana fodor paid $825.80 on a $3,169.78 credit balance. what is the new balance
Explanation:
the balance is $2343.98