Production Budget
Pasadena Candle Inc. projected sales of 800,000 candles for the year. The estimated January 1 inventory is 35,000 units, and the desired December 31 inventory is 20,000 units.
Prepare a production budget report in units for Pasadena Candle Inc. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Pasadena Candle Inc.
Production Budget
For the Year Ending December 31
Total units available
Total units to be produced

Answers

Answer 1

Answer:

Pasadena Candle Inc.

Pasadena Candle Inc.

Production Budget

For the Year Ending December 31

Total units available:

Project sales                    800,000

Desired ending inventory 20,000  820,000

Beginning inventory                          35,000

Total units to be produced             785,000

Explanation:

a) Data and Calculations:

Projected sales of candles for the year = 800,000  candles

January 1 inventory = 35,000 units

Desired December 31 inventory = 20,000 units

Units available for sale = 820,000 (800,000 + 20,000)

Production for the year = 785,000 (820,000 - 35,000)


Related Questions

Tamarisk, Inc. issued 20800 shares of $1 par common stock for $40 per share during 2022. The company paid dividends of $50000 and issued long-term notes payable of $458000 during the year. What amount of cash flows from financing activities will be reported on the statement of cash flows

Answers

Answer:

$1,240,000

Explanation:

Calculation to determine the amount of cash flows from financing activities will be reported on the statement of cash flows

Cash flow from Financing activities

Issue of common stock $832,000

(20800 shares × $40)

Add Issued of long term notes payable $458,000

Less: Dividend paid -$50,000

Net Cash flow from Financing activities $1,240,000

Therefore the amount of cash flows from financing activities will be reported on the statement of cash flows is $1,240,000

On July 1, Sterns Co. acquired patent rights for $36,000. The patent has a useful life of 6 years and a legal life of 15 years.
Required:
Journalize the adjusting entry on December 31 to recognize the amortization. Refer to the Chart of Accounts for exact wording of account titles.

Answers

Answer:

Dr Amortization Expense $3,000

Cr Patents $3,000

Explanation:

Preparation of the journal adjusting entry on December 31 to recognize the amortization.

Dec. 31

Dr Amortization Expense $3,000

Cr Patents $3,000

(To record Amortization)

Amortization=(Patent rights/Useful life)*6/12

Amortization=($36,000/6)*6/12

Amortization=$3,000

(July 1 to Dec 31 =6months)

High-Low Method
The manufacturing costs of Ackerman Industries for the first three months of the year follow:
Total Costs Units Produced
January $1,900,000 20,000 units
February 2,250,000 27,000
March 2,400,000 30,000
Using the high-low method, determine (a) the variable cost per unit and (b) the total fixed cost.
a. Variable cost per unit $
b. Total fixed cost $

Answers

Answer:

Variable cost per unit= $50

Fixed costs= $900,000

Explanation:

Giving the following information:

Total Costs Units Produced

January $1,900,000 20,000 units

February 2,250,000 27,000

March 2,400,000 30,000

To calculate the unitary variable cost and the fixed cost under the high-low method, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (2,400,000 - 1,900,000) / (30,000 - 20,000)

Variable cost per unit= $50

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 2,400,000 - (50*30,000)

Fixed costs= $900,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,900,000 - (50*20,000)

Fixed costs= $900,000

Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 45 million cases of cola were sold every month at a price of $6 per case. After the tax, 39 million cases of cola are sold every month; consumers pay $7 per case (including the tax), and producers receive $3 per case (after paying the tax).
The amount of the tax on a case of cola is___per case. Of this amount, the burden that falls on consumers is____per case, and the burden that falls on producers is____per case.
The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.
A. True
B. False

Answers

Answer:

$4

$1

$3

b

Explanation:

Tax is a compulsory amount levied on goods and services. Taxes increase the price of a good

The type of tax stated here is a sales tax

A sales tax is an example of consumption tax. It is levied on the sales of goods and services

Tax on the case of cola = Amount paid by consumers after tax - amount received by producers

7 - 3 = 4

Tax paid by consumers = amount paid by consumers after tax - amount paid before tax

$7 - $6 = $1

Tax paid by suppliers = 4 - 1 = $3

Bearington Enterprises uses an activity-based costing system to assign costs in its auto-parts division.

Activity Est. Indirect Activity Costs Allocation Base Cost Allocation Rate
Materials $60,000 Material moves $5.00/move
Assembling $175,000 Direct labor hours $5.00/dir. labor hour
Packaging $70,000 # of finished units $2.50/finished unit

The following units were produced in December with the following information:

Part # # Produced Materials Costs # Moves Dir. Labor Hrs.
Part 001 1,350 $2,500 100 500
Part 002 5,500 $5,000 400 200
Part 003 4,050 $7,000 2,800 1,550

Total manufacturing costs for Part 003 are : _______

Answers

Answer:

the Total manufacturing costs for Part 003 is $38,875

Explanation:

The computation of the Total manufacturing costs for Part 003 is given below:

= material cost + indirect cost

= $7000 + (2,800 × $5) + (1550 × $5) + (4,050 × $2.50)

= $7,000 + $14,000 + $7,750 + $10,125

= $38,875

Hence, the Total manufacturing costs for Part 003 is $38,875

The same should be considered and relevant

Blackwell, Inc. has a $125,000 liability it must pay five years from today. The company is opening a savings account so that the entire amount will be available when this debt needs to be paid. The plan is to make an initial deposit today and then deposit an additional $30,000 each year for the next three years, starting one year from today. The account pays a 5 percent rate of return. How much does the firm need to deposit today

Answers

Answer:

Initial investment= $23,838.78

Explanation:

Giving the following information:

Future Value (FV)= $125,000

Number of periods (n)= 5

Interest rate (i)= 5%

First, we need to calculate the future value of the three deposits using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {30,000*[(1.05^3) - 1]} / 0.05

FV= $94,575

Difference= 125,000 - 94,575= $30,425

Now, the initial investment today:

FV= PV*(1 + i)^n

Isolating PV:

PV= FV / (1 + i)^n

PV= 30,425 / (1.05^5)

PV= $23,838.78

Kim Thorsten uses rationale to make decisions for project implementation. She believes that the right decisions can be made only through analysis and examination. Each time she needs to make a decision, she weighs all options before taking action. Which of the following is a characteristic of Thorsten's personality type according to the Myers-Briggs Type Indicator (MBTI) classification?
a. intuitive
b. thinking
c. introverted
d. perceiving
e. feeling

Answers

Answer: b. thinking

Explanation:

Kim Thorsten has the personality type known as thinking. People like her are logical when they make decisions which means that they rely less on emotion and use rationale and evidence to make decisions.

These people are pragmatists and will only make a decision that they believe is objectively the best one after considering other options. This is what Kin does and why she is under thinking.

anh chị hãy phân tích phản ứng của người tiêu dùng trong lần tăng giá xăng gần đây nhất

Answers

Answer:

translate into English

s borrows​ $12,000 for a shortterm purpose. The loan will be repaid after 120​ days, with Simpson paying a total of​ $12,400. What is the approximate cost of credit using the​ APR, or annual percentage​ rate, calcula

Answers

Answer:

the approximate cost of credit using the​ APR, or annual percentage​ rate is 10.34%

Explanation:

The computation is shown below:

Interest Paid should be

= $12,400 - $12,000

= $400

Now  

Cost of capital for 120 days is

= $400 ÷ 12000

= 3.33%

And, finally  

Annual percentage rate is

= 3.33% × 365 ÷ 120

= 10.34%

Hence, the approximate cost of credit using the​ APR, or annual percentage​ rate is 10.34%

Country A and Country B have had an informal trading arrangement for many years wherein merchants on the border of the countries may freely trade goods without the restriction of fees. Which of the following is true?

a. The government of Country A may not arbitrarily begin to charge fees for items brought in from Country B.
b. Country A and Country B have a binding agreement to this arrangement under customary international law.
c. Country A and Country B have no binding agreement under customary international law.
d. More than one response is correct.

Answers

Answer:

d. More than one response is correct.

Explanation:

Even though international law does not follow common law, and informal agreements are not enforceable between countries, they tend to facilitate the relationship between them. For example, Canada and the US do not have a strict border patrol and no one is asking for a wall to be built on the Canadian border. It is accepted that US and Canadian citizens cross almost freely as tourists. If someone tried to enforce a strong border policy, the other government would oppose it and it would turn into a diplomatic mess and would probably not be enforceable at all.

An employee earned $1,000 in the first pay period of the current year. How much is the total employer and employee social security taxes on these earnings? (Use the simplified rate shown in illustrations.)

Answers

Answer: $120

Explanation:

The total employer and employee social security taxes is 6% fir the employee and 6% for the employee which then makes up 12%.

Since the employee earned $1,000 in the first pay period of the current year, then the total employer and employee social security taxes on these earnings will be:

= 12% × $1000

= 0.12 × $1000

= $120

During its most recent fiscal year, Raphael Enterprises sold 270,000 electric screwdrivers at a price of $17.10 each. Fixed costs amounted to $729,000 and pretax income was $999,000. What amount should have been reported as variable costs in the company's contribution margin income statement for the year in question

Answers

Answer:

$2,889,000

Explanation:

Sales units = 270,000 units

Sale Price = $17.10

Fixed cost = $729,000

Sales Value = 270,000 * $17.10

Sales Value = $4,617,000

Contribution Margin = Sales- Fixed cost

Contribution Margin = $4,617,000 - $729,000

Contribution Margin = $3,888,000

Variable Cost = Contribution margin- Pretax income

Variable Cost = $3,888,000 - $999,000

Variable Cost = $2,889,000

So, $2,889,000 is the amount that should have been reported as variable costs in the company's contribution margin income statement for the year in question.

What are the process of microeconomics?

Answers

Answer:

Microeconomics is the study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, resources, and/or methods of production. Individual actors are often grouped into microeconomic subgroups, such as buyers, sellers, and business owners.

Explanation:

A company is trying to decide between two independent projects. Each project has a cost of capital of 12%. Project A has an IRR of 11.4%. Project B has an IRR of 11.1%. Which project should the company choose if the goal of the firm is to maximize shareholder wealth

Answers

Answer:

Neither project should be chosen

Explanation:

Given that

Each project cost of capital is 12%

The IRR of project A is 11.4%

And, the IRR of project B is 11.1%

As we can see that the cost of capital of each project with their internal rate of return so no project should be selected

Therefore the above statement represent an answer

The same should be relevant

Yams Company reports the following operating results for the month of August: sales $400,000 (units 5,000), variable costs $240,000, and fixed costs $90,000. Management is considering the following independent courses of action to increase net income.

1. Increase selling price by 10% with no change in total variable costs or units sold.
2. Reduce variable costs to 55% of sales.

Required:
Compute the net income to be earned under each alternative. Which course of action will produce the higher net income?

Answers

Answer:

Yams Company

Alternative 1: Increasing the selling price by 10% with no change in total variable costs or units sold will produce the higher net income.

Explanation:

a) Data and Calculations:

                                                          Total         Unit   Quantity

Sales for the month of August = $400,000     $80        5,000

Variable costs =                            $240,000       48        5,000

Fixed costs =                                  $90,000

Alternatives to increase net income:

                                       Alternative 1        Alternative 2

Sales revenue                  $440,000            $400,000

Variable costs                    240,000              220,000

Contribution margin       $200,000             $180,000

Fixed Costs                         90,000                 90,000

Net income                      $110,000               $90,000

Required information Skip to question [The following information applies to the questions displayed below.] The Tennis Times (TTT) is a publisher of magazines. Its accounting policy for subscriptions follows: Revenues Revenues from our magazine subscription services are deferred initially and later recognized as revenue as subscription services are provided. Assume TTT (a) collected $420 million in 2018 for magazines that will be distributed later in 2018 and 2019, (b) provided $204 million of services on these subscriptions in 2018, and (c) provided $216 million of services on these subscriptions in 2019. Required: Using the information given, indicate the accounts, amounts, and accounting equation effects of transactions (a), (b), and (c). (Enter any decreases to assets, liabilities, or stockholders equity with a minus sign. Enter your answers in whole dollars.)

Answers

Answer:

The solution to the given question is defined in the attached file please find it.

Explanation:

You are closing the accounts you used to bill the project costs, but you still have some lingering expenses. Which best practice should you follow?

Answers

Project management and managing finances are often seen as two separate things. On the face of it, this makes sense. After all, projects focus on the delivery of assets and accounting on recording and interpreting financial transactions.

But, these two aspects on their own only tell half the story. The success of any project relies on project management and billing working together.

Answer:

Close all accounts except for the one related to the follow-up activities until the remanding expenses are complete.

Explanation: You never what to close out an account when the project has not been completed. If you still have remanding expenses the project is not complete.

You are planning to save for retirement over the next 30 years. To do this, you will invest $700 a month in a stock account and $400 a month in a bond account. The return of the stock account is expected to be 7.5 percent, and the bond account will pay 5.5 percent. When you retire, you will combine your money into an account with a 2.5 percent return. How much can you withdraw each month from your account assuming a 25-year withdrawal period?
a. 5.545.73.
b. 6,081.31.
c. 5,870.85.
d. 6.205.66

Answers

Answer:

Monthly withdraw= $5,870.6

Explanation:

Giving the following information:

Stock:

Monthly deposit= $700

Interest rate= 0.075/12= 0.00625

Number of periods= 30*12= 360

Bond:

Monthly deposit= $400

Interest rate= 0.055/12= 0.0045833

Number of periods= 30*12= 360

First, we need to calculate the value of the investment at the moment of retirement:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Stock:

FV= {700*[(1.00625^360) - 1]} / 0.00625

FV= $943,211.797

Bond:

FV= {400*[(1.00458^360) - 1]} / 0.00458

FV= $365,447.415

Total FV= $1,308,659.212

Now, the monthly withdrawal:

Interest rate= 0.025/12= 0.002083

Number of periods= 25*12= 300

Monthly withdraw= (FV*i) / [1 - (1+i)^(-n)]

Monthly withdraw= (1,308,659.212*0.002083) / [1 - (1.002083^-300)]

Monthly withdraw= $5,870.6

Blue expects to begin selling the product next year. If Blue elects to amortize research and experimental expenditures over 60 months, determine the amount of the deduction for research and experimental expenditures for the current year.
a. $0
b. $118,000
c. $143,000
d. $152,000

Answers

Part of the question

Blue Corporation incurred the following expenses in connection with the development of a new product:

Salaries $100,000

Utilities 18,000

Materials 25,000

Advertising 5,000

Market survey 3,000

Depreciation on machine 9,000

Answer:

a. $0

Explanation:

From the question, we have the qualified research expenditures to be

=> $100,000 + $18,000 + $25,000 + $9,000 = $152,000

Also, given that under the election to amortize, the monthly amortization is

=> $152,000 ÷ 60 months = $2,533

Hence, given that, sales will not start until next year, there is no deduction for the current year, which implies that the right answer is $0

Assuming a specific single project with normal cash flows and a cost of capital of 10%, which of the following statements will ALWAYS be true?

a. If NPV > 0 at the stated cost of capital (i.e., 10%), then NPV will also be > 0 at a cost of capital of 12%.
b. If NPV > 0, then Profitability Index > 0.
c. If NPV > 0, then Payback Period > 0.
d. If NPV > 0, then a simple sum of the cash inflows of the project will always be greater than the cost of the project (i.e, the year 0 cash flow).
e. If NPV > 0, then IRR > 0.

Answers

Answer:

b. If NPV > 0, then Profitability Index > 0.

c. If NPV > 0, then Payback Period > 0.

d. If NPV > 0, then a simple sum of the cash inflows of the project will always be greater than the cost of the project (i.e, the year 0 cash flow).

e. If NPV > 0, then IRR > 0

Explanation:

The net present value shows the net worth of the assets or the project at the discount rate or the cost of capital. In the case when the net present value comes in positive so the internal rate of return should be more than the cost of capital

Also the profitability index lies between -1 and +1 so if the net present value is positive so the profitability should be more than 1

Hence, b to e statements are correct

Crimson Tide Music Academy offers lessons in playing a wide range of musical instruments. The unadjusted trial balance as of December 31, 2021, appears below. December 31 is the company's fiscal year-end.
Accounts Debits Credits
Cash $ 10,300
Accounts Receivable 9,500
Supplies 2,000
Prepaid Rent 7,200
Equipment 90,000
Accumulated Depreciation $ 12,000
Accounts Payable 7,700
Salaries Payable 0
Interest Payable 0
Utilities Payable 0
Notes Payable 20,000
Common Stock 45,000
Retained Earnings 19,000
Service Revenue 42,200
Salaries Expense 24,500
Interest Expense 0
Rent Expense 0
Supplies Expense 0
Utilities Expense 2,400
Depreciation Expense 0
Totals $ 145,900 $ 145,900
Information necessary to prepare the year-end adjusting entries appears below.
a. Depreciation of equipment for the year is $6,000.
b. Accrued salaries at year-end should be $2,100.
c. Crimson Tide borrows $20,000 on September 1, 2018. The principal is due to be repaid in four years. Interest is payable each August 31 at an annual rate of 12%.
d. Unused supplies at year-end total $700. Crimson Tide debits Supplies at the time supplies are purchased.
e. Crimson Tide opens a second studio by paying for one year of rent in advance on April 1, 2018, for $7,200 ($600 per month) debiting Prepaid Rent.
f. Unpaid utilities for December total $200.
Required:
1) Enter the unadjusted balances from the trial balance and post the adjusting entries to the T-accounts, and post the closing entries to the T-accounts.
2) prepare an adjusted trial balance.
3a ) prepare an income statement for the year end december 31,2018.
3b) prepare a statement of sharholders equity for the year ended decmber 31,2018.
3c) prepare a classified balance sheet for the year ended december 31, 2018.
4) record the closing entries.
5) prepare a post-closing trial balance.

Answers

Answer:

asdasd sadad asd asdas 2 212 313135 54 554 dsa asd sad  asa sd  

Explanation:

Which of these are NOT an example of a Nonforfeiture option?

Extended Term

Reduced Paid-up

Cash Surrender

Life Income

Answers

Answer: Life income

Explanation:

A nonforfeiture option means that even if the person stops paying for the insurance for a little while, they can still receive the full benefit of the policy or at least part of it.

Life income is an insurance type that provides the beneficiary with an income for the rest of their life. This does not have a nonforfeiture clause which means that if there is a lapse in payment, the beneficiary will receive no benefit.

The option that isn't an example of a non-forfeiture is the life income.

A non-forfeiture clause simply means that the policyholder will still get the benefit that the insurance company should pay the person even when the policy lapses.

In a non-forfeiture option, even if the person misses out on some premium and doesn't pay in time, they'll still get the value of the policy.

It should be noted that the life income isn't a example of the non-forfeiture option since it can't be gotten if the policy lapses due to the fact that the premium wasn't paid.

In conclusion, the correct option is D.

Read related link on:

https://brainly.com/question/24277455

Equipment was purchased for $151000. Freight charges amounted to $6000 and there was a cost of $14000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $36000 salvage value at the end of its 5-year useful life. Depreciation Expense each year using the straight-line method will be

Answers

Answer: $27000

Explanation:

The formula for straight line depreciation will be:

= (Cost of asset - Salvage value) / Useful life of asset

Cost of asset = $151000 + $6000 + $14000 = $171000

Straight line Depreciation = ($171000 - $36000) / 5

= $135000/5

= $27000

Assuming no change in government spending, an decrease in taxes of $100 billion with an MPC of 0.90 will add a total of $_____________ billion to the economy after the multiplier effect.
A. 800
B. 400
C. 500
D. 900

Answers

Answer:

D. 900

Explanation:

MPC = 0.90

The multiplier = MPC \ {1 - MPC} = 0.90 / (1-0.90) = 0.90 / 0.10 = 9

The Effect = Decrease in taxes * Spending multiplier

The Effect = $100 * 9

The Effect = $900

So, an decrease in taxes of $100 billion with an MPC of 0.90 will add a total of $900 billion to the economy after the multiplier effect.

Job 243 $5,750 Job 244 $4,980 Job 245 $3,675 Job 246 $4,250 Job 247 $5,100 Job 248 $3,800 Jobs 243 and 244 were in finished goods inventory at the beginning of the month. Jobs 245 and 246 were in work in process at the beginning of the month. Jobs 247 and 248 were started during the month. At the end of the month, Jobs 243 and 244 were sent to customers; Jobs 245, 247, and 248 were completed and sent to finished goods. What is the cost of goods sold for the month

Answers

Answer:

The cost of goods sold for the month is:

= $10,730.

Explanation:

a) Data and Calculations:

Finished goods inventory at the beginning of the month:

Job 243 $5,750

Job 244 $4,980

Work in process inventory at the beginning of the month:

Job 245 $3,675

Job 246 $4,250

Jobs started during the month:

Job 247 $5,100

Job 248 $3,800

Cost of goods sold:

Job 243 $5,750

Job 244 $4,980

Total     $10,730

Finished Goods inventory ending balance:

Job 245 $3,675

Job 247 $5,100

Job 248 $3,800

Work in Process inventory ending balance:

Job 246 $4,250

Read the following request message, and then answer the question.

To: Customer Support
From: Helen Martin
Subject: Warranty Information for Netbook Computer
Dear Customer Service,
I need this information by noon tomorrow at the latest. My team has an important presentation to give, and my netbook crashed while we were working on the presentation. I can’t find the warranty information anywhere. So I have a few questions. Where is my warranty information? How long does it normally take to repair these machines? Do I have to mail the netbook to you, or can I bring it to your local repair shop? Will you please answer these questions in a timely manner? Thank you in advance for your help.

Regards,
Helen Martin

Revision A:
1. Where do I find my warranty information?
2. How long does the average netbook repair take?
3. Do I need to mail in my netbook for repairs or bring it to your local repair shop?

Revision B:
Where is my warranty information? How long does the average repair take? Do I have to mail in my netbook?

Revision C:
Where do I find the information?
How long does it take?
Can I take it to my local shop?

Which of the preceding revisions is the best revision for the body of this message?

A. Revision B
B. Revision C
C. Revision A

In addition to making requests, you will have to respond to requests in the business world.

Complete the following sentence with the dropdown menu.
Direct response messages might _______?

a. include long, flowery descriptions
b. use the "me" view
c. supply explanations and additional information

Answers

Answer:

?

Explanation:

Comet Company is owned equally by Pat and his sister Pam, each of whom holds 100 shares in the company. Pam wants to reduce her ownership in the company, and it was decided that the company will redeem 50 of her shares for $1,000 per share on December 31, 20X3. Pam's income tax basis in each share is $500. Comet has total E&P of $250,000. What are the tax consequences to Pam as a result of the stock redemption?
a) $25,000 capital gain and a tax basis in each of her remaining shares of $100.
b) $50,000 dividend and a tax basis in each of her remaining shares of $50.
c) $50,000 dividend and a tax basis in each of her remaining shares of $100.
d) $25,000 capital gain and a tax basis in each of her remaining shares of $500.

Answers

Answer:

d) $25,000 capital gain and a tax basis in each of her remaining shares of $500.

Explanation:

Calculation to determine the tax consequences to Pam as a result of the stock redemption

Using this formula

Capital gain = Total amount - Tax basis

Let plug in the morning

Capital gain = (50 * $1,000) - ($500 * 50)

Capital gain = $50,000 - $25,000

Capital gain = $25,000

Since the Capital gain is $25,000 which means that The tax basis will be income tax basis in each share of $500 for the remaining 50 shares.

Therefore the the tax consequences to Pam as a result of the stock redemption will be:$25,000 capital gain and a tax basis in each of her remaining shares of $500.

All companies try to have happy workers as they know the relationship between satisfaction and performance. This is why they are focusing on motivating their employees in a variety of ways. From what you have learned please suggest what companies should do to have a working place that could effectively motivate their employees.

Answers

Answer:

1. Reward and incentivize workers

2. Set smaller weekly or biweekly goals for them.

3. Foster trust between the managers and workers.

Explanation:

In order to have workers who are motivated to put in their best in the company, employers should take certain positive actions. These actions include;

1. Reward and incentivize workers: Rewards which could be monetary, as word of praise, or formal recognition can move workers to give their best. Humans are motivated when their efforts are recognized and praised. Therefore, incentivizing workers is a good way to get them motivated.

2. Set smaller weekly or biweekly goals for them: Setting humongous goals and targets can scare off and pressurize the workers. But when these large goals are broken into smaller goals, they can then be motivated to reach those goals.

3. Foster trust between the managers and workers: When workers have a sense of belonging and know that they are trusted, they will be in a more relaxed frame to achieve their goals. Unwarranted allegations and suspicions can put the workers on edge.

Exercise 6-1B Calculate cost of goods sold (LO6-2) A company begins the year with inventory of $53,000 and ends the year with inventory of $43,000. During the year, the company has four purchases for the following amounts. Purchase on February 17 $ 208,000 Purchase on May 6 128,000 Purchase on September 8 158,000 Purchase on December 4 408,000 Required: Calculate cost of goods sold for the year.

Answers

Answer: $912,000

Explanation:

The cost of goods sold for the year will be:

Beginning inventory = $53,000

Add: Purchases = ($208,000 + $128,000 + $158,000 + $408,000) = $902,000

Cost of goods available for sale = $955,000

Less: Ending inventory = ($43,000)

Cost of goods sold = $912,000

Because of the compounding effect:

a. large yearly growth rates are needed to achieve sustained growth.
b. large yearly growth rates are needed to achieve sustained growth.
c. small changes in economic growth rate lead to large GDP changes over time.
d. small changes in economic growth rate lead to large GDP changes over time.
e. interest compounding allow the economy to grow faster.

Answers

Answer: c. small changes in economic growth rate lead to large GDP changes over time.

Explanation:

If there is even a small change in the rate at which the economy is growing, this increase will increase by even more the year afterward and then even more as time goes on. This is because the interest is being compounded overtime.

Look at the future value formula that shows compounding for instance:

Future value = Amount * (1 + rate) ^ number of periods

Assume even a change of 2% in the growth rate. In 30 years, this rate would have increased the economy by:

= 1 * ( 1 + 2%)³⁰

= 1.81

Which is a rate of:

= 1.81 - 1

= 81%

What started off as only 2% became 81% in 30 years. This is what compounding does.

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