The number of equivalent units with respect to conversion using weighted-average method in process inventory is 116,200.
What is inventory?Inventory refers to the goods and materials that a business holds for sale or use in its operations. These can include raw materials, work-in-progress items, and finished products. Maintaining an appropriate inventory level is essential for ensuring that a business can meet customer demand while minimizing storage costs and the risk of holding excess or obsolete inventory. Inventory can be classified into several types, including raw materials, finished goods, and work-in-progress inventory. Raw materials are the materials needed to produce finished goods, while work-in-progress inventory refers to products that are still being manufactured. Finished goods are the final products that are ready for sale to customers. Inventory management is critical for controlling costs and optimizing profitability, and businesses use a variety of methods to manage inventory levels, such as just-in-time inventory systems and automated inventory tracking software.
Ending work in process inventory= 9,200 + 100,000 + 7,000 = 116,200
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What methods can be used to dispose of underapplied or overapplied manufacturing overhead? (Select all that apply)a. Allocate it to Raw materials, Work in process, and Finished goods.b. Close it to Cost of goods sold.c. Allocate it to Work in process, Finished goods, and Cost of goods sold.d. Close it to Finished goods.e. Close it to Work in process.
Closing it out to the Cost of goods sold and allocating it among Work in process, Finished goods, and Cost of goods sold were the methods that can be used to dispose of underapplied or overapplied manufacturing overhead.
What is Over-Applied Overhead?
Overhead expenses must be allocated to each job since they are spent during the production process and help produce inventories. Inventory costs are adjusted instantly in a perpetual inventory system. As a result, management must distribute all incurred overhead expenses to each job immediately rather than waiting until the conclusion of the current month. Instead, management must budget for future overhead costs and forecast where they will be incurred throughout the production cycle. By predicting a specified overhead rate, it is possible to divide expenses between jobs and departments in this procedure. The estimated expenses and the actual expenditures incurred are compared at the end of the time period.
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Which company has the best corporate culture?
The "corporate culture" of an organization refers to its unique set of values, principles, and behaviors.
What is meant by corporate culture?A corporation's specific values, beliefs, and practices are referred to as its "corporate culture." Corporate culture, for instance, could be expressed in the way a company hires and advances workers or in its corporate purpose statement. Some businesses try to align themselves with a particular set of ideals, for as by branding themselves as an inventive or ecologically responsible company.
Because it can help with crucial business goals, corporate culture is crucial. For instance, workers may be drawn to organizations whose cultures they can relate to, which in turn can promote employee retention and new talent acquisition. To keep a competitive edge when it comes to patents or other types of intellectual property, fostering an innovative culture can be essential.
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Set on october 1, eder fabrication borrowed $86 million and issued a nine-month, 15% promissory note. Interest was payable at maturity. Prepare the journal entry for the issuance of the note and the appropriate adjusting entry for the note at december 31, the end of the reporting period
$55M in Debit Cash and $55M in Credit Notes Payable were issued. Modifying entry: Debit Interest Expense $2.99M, Credit Interest Payable $2.99M.
Note Issuance: On October 1, Eder Fabrication would enter the following in its journal for the note's issuance:
$55,000,000 in debit cash; $55,000,000 in credit notes payable.
Adjusting Entry for Accrued Interest: Eder Fabrication would have to make an adjusting entry on December 31 to reflect the interest that had been charged on the loan. The following would be the adjusting entry:
($55,000,000 x 13% x 3/12) Debit Interest Expense: $2,162,500
Due Credit Interest: $2,162,500
The interest expenditure and related obligation for interest due at the end of the reporting period would both increase as a result of this adjusting item.
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Wood company sold $1,800,000 worth of merchandise, had $150,000 returned, and then the balance was received during the 2% discount period.a. $1,617,000b. $1,320,000c. $1,530,000d. $1,350,000
The remaining balance of $1,617,000 was then received during the 2% discount period. The correct option is A.
What is a discount period?
A discount period is a time frame in which a buyer may receive a discount on the price of a product or service if payment is made within that timeframe. The discount, which typically accounts for a part of the total price, is meant to promote on-time payments. Discount periods are commonly used in business-to-business transactions, where suppliers offer discounts to customers to encourage on-time bill settlement, thereby improving cash flow and reducing bad debt. Although the length of a discount period may differ, it is typically short—10 days or less—in duration. When the discount time has passed, the full price of the good or service is expected.
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Which of the following best explains the purpose of a supply curve?DA. To graph the relationship between quantity supplied and pricechargedOB. To track the progress of production from raw materials to finishedproductC. To indicate how much profit producers make from each Vevel ofsupplyD. To show when the amount supplea intersects with the amountdemandedPREVIOUS
The force wind, which embodies the law of force, will incline advanced from left to right The quantum supplied rises when the price of a certain commodity rises.
Keep in mind that this expression suggests that volume is the dependent variable and price the suppliedvariable. The independent variable frequently appears on the vertical axis, orx-axis, although economics is an exception. It's necessary to produce a new force wind whenever a factor other than price or volume changes. Let's take an illustration where new soybean directors enter the request and clear further area for growing soybeans while also adding the quantum of land used for this purpose. The force wind changes to the right in this case because further soybeans will be produced indeed if the price stays the same.
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jorge wants to learn more about how his customers like the new items on the resturaunt menu. what would be the quickest and best research tool
A survey is a technique for acquiring data from a sample of people by asking pertinent questions with the goal of comprehending populations as a whole. Hence option D is correct .
What kinds of surveys exist?Everyone involved in the information economy, from corporations to the media to the government and academia, relies on surveys as a vital source of information and insights.
There are four widely used surveying methods.
direct interviewstelephone pollsSelf-administered questionnaires on paper and in pencilComputerized self-reporting surveys (typically online)Although the methods used to conduct surveys vary greatly, there are some common elements. Researchers in many different disciplines of study, including survey methodologists, psychologists, statisticians, and others, have thoroughly examined many of these characteristics.
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The question was incomplete and the question is complete
Jorge wants to learn more about how his customers like the new items on his restaurant menu. What would be the quickest and best research tool to find out this information?
observations
learning from experts
interviews
surveys
whre is meijer grocery store?
Meijer grocery store Its company headquarters are in Walker, Michigan, which is part of the Grand Rapids metropolitan location.
Metropolitan refers to an urban area with a high population density and economic activity. It is commonly defined as a region comprising a central city and its surrounding suburban and rural areas. Metropolitan areas typically have a complex infrastructure, including highways, public transportation, airports, and other vital facilities that support a large population.
These areas are characterized by a diverse mix of cultures, languages, and socio-economic backgrounds, making them a melting pot of ideas, traditions, and lifestyles. Metropolitan areas play a significant role in the regional and national economies, as they are centers of commerce, industry, and innovation. They also offer a wide range of opportunities for education, employment, and entertainment.
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the average price of gasoline is $3.25 per gallon in your town. a. At a price of $0.50 per gallon. and able to buy exceeds there would be a shortage as the amount of gasoline people are willing the amount of gasoline gas stations are willing and able to sell. b. At a price of $6.00 per gallon, there would be a surplus as the amount of gasoline people are willing and able to buy is less than the amount of gasoline gas stations are willing and able to sell.
a. at a price of $0.50 per gallon, there will be a shortage as the amount of gasoline people are willing and able to buy will be greater than the amount of gasoline gas stations are willing and able to sell.
b. at a price of $6.00 per gallon, there will be a surplus as the amount of gasoline people are willing and able to buy will be less than the amount of gasoline gas stations are willing and able to sell.
What is a shortage and a surplus?Price below the average price causes more people to buy than are able to supply. Due to the good's relatively short supply, consumers would increase the quantity demanded of it. There would be a shortage if quantity required was more than quantity provided.
Price above the average price indicates that there is a surplus because there is more supply than demand. This is due to consumers' reduced demand for the commodity as a result of their perception that it is too pricey. $6 is more than the $3.25 national average. Consequently, a surplus would result.
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market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry
A market structure in which a few large sellers will dominate the market and have the ability to affect prices in the industry is called an oligopoly.
In an oligopoly, a couple of huge firms overwhelm the market, and they have the ability to impact costs and other market factors. The way of behaving of firms in an oligopoly is associated, implying that they make into account the moves of their adversaries while deciding.
This can prompt complex estimating techniques, item separation, and other serious ways of behaving that may not be available in other market structures. Instances of ventures that are in many cases considered oligopolies incorporate the auto business, broadcast communications, and the aircraft business.
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Complete Question - market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry _______
some countries have a policy that restricts the export of honey. this is called a(n) multiple choice voluntary export restraint. export ban. administrative trade policy. import quota. antidumping policy.
Some countries have a policy that restricts the export of honey. this is calledThe correct answer is export ban.
What is export ban?An export ban is a policy implemented by a government to prohibit or restrict the export of certain goods or services from its country. In the case of honey, some countries may implement an export ban to ensure that enough honey is available for domestic consumption or to support local industries that rely on honey.
A voluntary export restraint is when a country voluntarily agrees to limit the amount of a product it exports to another country. An administrative trade policy refers to any government regulation that affects international trade, while an import quota is a restriction on the quantity of a particular good that can be imported into a country.
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why is a twenty minute lunch break especially welcome to farm workers
A twenty minute lunch break is especially welcome to farm workers because it gives them a chance to step away from the physically demanding work they do each day. During the break they can take a moment to rest and refuel with some food and drink.
It also provides a rare opportunity for them to take a little time to themselves away from the fields. This break can be a welcomed chance to socialize with fellow workers and discuss the day's events, and it can also be a time to think, reflect and take a mental break from the hard labor. For many, it can be a much needed and appreciated chance to pause, even if it is just for a few moments.
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Forest Beach Company experienced an event that had the following effects on its financial statements.
Balance sheet Income Statement Statement of Cash Flows
Assets=Liab+Equity Rev. − Exp. = Net Inc.
NA = NA+NA NA − NA = NA + IA
Which of the following events could have caused these effects?
Multiple Choice
A. Accrued interest revenue.
B. Loaned cash to an employee.
C. Collected cash for the principal balance of a note receivable.
D. Borrowed cash from a bank.
The events that could have caused these effects is: D. Borrowed cash from a bank.
What is the events that could have caused these effects?When a company borrows cash from a bank, it increases its assets (cash) and liabilities (loan payable) on the balance sheet. However, it does not affect the equity portion of the balance sheet, which remains unchanged.
In addition, borrowing cash does not generate any revenue or expenses, which explains the NA - NA = NA result in the income statement.
Finally, the borrowing of cash would show up as a cash inflow on the statement of cash flows, but there would be no impact on net income.
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Fill The Blank! when the dividend is divided by the price the result is the ______.
When dividend is divided by the price the result is the dividend yield.
Dividend yield is a financial ratio that shows the amount of dividend income received by an investor relative to the price of the investment. It is calculated by dividing the annual dividend per share by the price per share, and then multiplying the result by 100 to express it as a percentage.
The formula for dividend yield is:
Dividend Yield = (Annual Dividend per Share/Price per Share) x 100
For example, if a company pays an annual dividend of $2 per share and the stock price is $50 per share, the dividend yield would be 4%:
Dividend Yield = ($2 / $50) x 100 = 4%
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a common-law principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith, is known as?
A common-law principle stating that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in good faith, is known as business judgment rule.
What is business judgment rule?
According to the business judgment rule, a corporate law doctrine derived from case law, courts should give company executives' business judgments weight. The foundation of it is the idea that "directors of a corporation are clothed with presumption, which the law gives to them, of being in their conduct by a bona fide regard for the interests of the corporation whose affairs the stockholders have entrusted to their charge." The business judgment rule recognizes the uncertainty of all commercial decisions and actions. Therefore, even choices made with the best of intentions sometimes lead to failure and financial hardship.
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How do you start entering competitions?
Plan ahead! , Concentrate on the prizes you want to win most. Enter contests on reputable websites and social media platforms. Make an effort and participate in local competitions.
Is competition good for you?Kids are motivated to perform at their best, not simply at an acceptable level, by healthy competition. When students compete, they learn to be more curious, conduct independent research, and collaborate with others. More than what is necessary will be attempted.
I wish to enter a tournament for what reason?Even if you don't win, you can still demonstrate what you learned from the experience and discuss this in job applications and interviews. You will obtain new knowledge and build new abilities.
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What Is the Quantity Theory of Money
The quantity theory of money basically states that the general price level of the goods as well as the services is directly proportional to the money supply or the amount of money in circulation.
The quantity theory of money basically tells that the money supply or the amount of money which is in circulation determines the price levels of the goods as well as the services. This theory assumes that the quantity of money which is present in an economy has a major influence on its level of economic activity.
So, basically a change in the money supply ends up resulting in either a change in the supply of goods and services or changes in the price levels or even both.
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Management must do all of the following in order to adequately protect against the risks of exposure to exchange-rate fluctuations EXCEPT:
A) Avoid potential situations for exposure
B) Adopt a policy assigning responsibility for minimizing exposure
C) Formulate strategies for hedging exposure
D) Organize and implement a reporting system that monitors exposure
Management must adequately protect against the risks of the exposure to exchange-rate fluctuations except Avoid potential situations for exposure. Option A is correct.
Management can protect against the risks of the exposure to exchange-rate fluctuations through various strategies, including adopting a policy assigning responsibility for minimizing the exposure, formulating strategies for hedging exposure, and organizing and implementing a reporting system that monitors exposure.
However, it is not always possible or desirable to avoid the potential situations for exposure, especially in the context of international business. Instead, management should focus on managing and minimizing the risks of exposure through appropriate risk management strategies.
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a large company has two shifts—a day shift and a night shift. parts produced by the two shifts must meet the same specifications. the manager of the company believes that there is a difference in the proportions of parts produced within specifications by the two shifts. to investigate this belief, random samples of parts that were produced on each of these shifts were selected. for the day shift, 188 of its 200 selected parts met specifications. for the night shift, 180 of its 200 selected parts met specifications.
To follow with a 96% confidence test and to get the desired results, the test should be followed by the hypothesis test. Both the tests calculations are mentioned below -
To calculate a 96% confidence interval for the difference in proportions of parts produced within specifications by the day and night shifts, we can use the following formula:
(1−2)±∗
Where 1 and 2 are the sample proportions for the day and night shifts, respectively, is the critical value from the standard normal distribution for a 96% confidence level (which is approximately 1.75), and is the standard error of the difference between the sample proportions.
First, we calculate the sample proportions for each shift:
1=88/200=0.44
2=180/200=0.90
Next, we can calculate the standard error of the difference between the sample proportions:
=sqrt[(1(1−1))/1+(2(1−2))/2]
=sqrt[(0.44(0.56))/200+(0.90(0.10))/200]
=0.062
Finally, we can calculate the 96% confidence interval:
(1−2)±∗=(0.44−0.90)±1.75(0.062)=−0.46±0.109=−0.569 to −0.351
The confidence interval does not include 0, which means that we can be 96% confident that there is a difference in the proportions of parts produced within specifications by the day and night shifts. However, this does not necessarily mean that the difference is statistically significant. To determine if the difference is statistically significant, we would need to conduct a hypothesis test with an appropriate level of significance and compare the p-value to the significance level. Without conducting such a test, we cannot definitively say whether the difference is statistically significant or not.
To determine if there is a significant difference in the proportions of parts produced within specifications by the day and night shifts, we can conduct a hypothesis test using the two-sample proportion test.
Null Hypothesis - The proportion of parts produced within specifications is the same for the day and night shifts.
Alternative Hypothesis - The proportion of parts produced within specifications is different for the day and night shifts.
We can use a significance level of 0.05, which means that we are willing to accept a 5% chance of making a Type I error (rejecting the null hypothesis when it is actually true).
First, we need to calculate the sample proportions for each shift:
p1 = 188/200 = 0.94
p2 = 180/200 = 0.90
Next, we can calculate the pooled sample proportion:
p = (188 + 180) / (200 + 200) = 0.92
Then, we can calculate the standard error of the difference between the sample proportions:
SE = sqrt[p(1-p)(1/n1 + 1/n2)] = sqrt[0.92(1-0.92)(1/200 + 1/200)] = 0.039
Finally, we can calculate the test statistic:
z = (p1 - p2) / SE = (0.94 - 0.90) / 0.039 = 1.03
Using a standard normal distribution table or calculator, we can find the p-value for a two-tailed test with z = 1.03 to be approximately 0.30.
Since the p-value is greater than our significance level of 0.05, we fail to reject the null hypothesis. This means that we do not have sufficient evidence to conclude that there is a significant difference in the proportions of parts produced within specifications by the day and night shifts. However, we should note that our test has a 30% chance of producing a Type II error (failing to reject the null hypothesis when it is actually false), so we cannot be completely certain that there is no difference between the shifts.
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Complete Question -
A large company has (wo shifts day shift and night shift Parts produced by the two shifts must meet the sanie specificalions: The manager of the company believes that there is difference in the proportions of parts produced within specifications by the two shifts. To investigale this belief. random samples ol parts that were produced on each of these shifts were selected. For the day shif, [88 of its 2O) selected parts met= specifications For the night shift; 180 of its 20) selected parts met specifications. Use 96 percent confidence interval to estimale the difference in the proportions ol parts produced within specifications by the (wo shifts: Based only on this confidence interval, do you think that the difference in the proportions of parts produced within specilications by the (wo shilts is signilicantly different from 0 Justify vour ansWer;
the home supply co. has a current accounts receivable balance of $280,000. credit sales for the year just ended were $1,830,000. how many days on average did it take for credit customers to pay off their accounts during this past year?
If the home supply co. has a current accounts receivable balance of $280,000. credit sales for the year just ended were $1,830,000. The number of days is 56 days.
How to find the average collection period (ACP)?To calculate the average collection period (ACP), which represents the number of days on average it took for credit customers to pay off their accounts, we can use the following formula:
ACP = (Accounts Receivable / Credit Sales) x Number of Days
We know that the Accounts Receivable balance is $280,000 and the Credit Sales for the year were $1,830,000. We need to calculate the Number of Days.
Number of Days = 365 days (in a year)
Now we can plug in the numbers into the formula:
ACP = ($280,000 / $1,830,000) x 365
ACP = 0.153 x 365
ACP = 55.8 days
ACP = 56 days
Therefore, the average collection period for the Home Supply Co. during the past year was approximately 56 days (rounded to the nearest whole number).
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According to the chart, by year 5, the combined payment for principal and interest will increase to approximately . by year 15, the combined payment will increase to approximately . recall that taxes and mortgages add about $400 to the payment for principal and interest. if demarco and tanya’s income stays the same, by year 10, their total payment will be 25% of their gross monthly income.
The total payment will be 25% of their gross monthly income would be $836 - 961 - over.
What is meant by gross monthly income?Your gross monthly income is simply your monthly revenue before any deductions for taxes and other expenses. Alternatively, it is equal to your annual income divided by 12. Your monthly gross income is your complete revenue before any withholdings.
Calculate how much money you make each month in order to determine your personal monthly gross income. Your take-home pay or the payment you get straight from your employer will probably be different from this.
The total amount of money you made in a given time period before any deductions or taxes are taken out is your gross income, which may be viewed on a pay stub. Also, your year-end W2 or 1099 will show your entire gross income.
A different way to figure out your gross income is to multiply your hourly pay rate by the number of hours you'll work in a given month, or by your monthly salary before taxes.
Gross income is the total amount generated before to tax and other deductions. The gross salary and take-home pay are typically listed on an employee's pay check . You should also provide any additional revenue sources, gross rather than net, if applicable.
The total payment will be 25% of their gross monthly income would be $836 - 961 - over.
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Answer:
Part 1: $836
Part 2: $961
Part 3: over
Explanation:
Did the assignment and got it right. Hope this helps :)
an examination of the cash receipts and payments of xavier corporation reveals the following cash paid to suppliers for purchase of merchandise $5,000 cash received from customers 14,000 cash paid for purchase of equipment 22,000 dividends paid 2,000 cash received from issuance of preferred stock 10,000 interest received on short-term investments 1,000 wages paid 4,000 repayment of loan to the bank 5,000 cash from sale of land 12,000 xaviers cash flow from financing (cff) and cash flow from investing (cfi) will be:
If an examination of the cash receipts. Xavier Corporation's cash flow from financing (CFF) is $3,000 (cash inflow) and its cash flow from investing (CFI) is -$10,000 (cash outflow).
How to find cash flow from financing (cff) and cash flow from investing (cfi) ?Cash flows from financing activities:
Cash received from issuance of preferred stock: $10,000
Dividends paid: $2,000
Repayment of loan to the bank: $5,000
The total cash flow from financing (CFF) is the sum of these cash flows:
CFF = $10,000 - $2,000 - $5,000 = $3,000 (cash inflow)
Cash flows from investing activities:
Cash paid for purchase of equipment: $22,000
Cash from sale of land: $12,000
The total cash flow from investing (CFI) is the sum of these cash flows:
CFI = -$22,000 + $12,000 = -$10,000 (cash outflow)
Therefore, Xavier Corporation's cash flow from financing (CFF) is $3,000 (cash inflow) and its cash flow from investing (CFI) is -$10,000 (cash outflow).
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In an examination of the cash receipts and payments of Xavier corporation, cash flow from financing (CFF) is $3,000 and cash flow from investing (CFI) is -$10,000
Finding Cash flow from financing (CFF)Dividends paid: $2,000
Cash received from issuance of preferred stock: $10,000
Repayment of loan to the bank: $5,000
Therefore, the total cash flow from financing (CFF) is:
CFF = -$2,000 + $10,000 - $5,000 = $3,000
Finding Cash flow from investing (CFI)Cash paid for purchase of equipment: $22,000
Cash from sale of land: $12,000
Therefore, the total cash flow from investing (CFI) is:
CFI = -$22,000 + $12,000 = -$10,000
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c. the internal rate of return is between what two whole discount rates (e.g., between 10% and 11%, between 11% and 12%, between 12% and 13%, between 13% and 14%, etc.)?
The Internal Rate of Return (IRR) is a financial metric used to evaluate the profitability of an investment or project. It is defined as the discount rate at which the present value of expected cash flows from the investment equals its initial cost.
What is the IRR?In other words, the IRR is the interest rate at which the net present value (NPV) of an investment becomes zero. It is also sometimes referred to as the "yield on investment" or the "effective interest rate."
The IRR is an important tool for investors, as it allows them to compare the profitability of different investments with varying cash flows and timing. A higher IRR indicates a more profitable investment, while a lower IRR indicates a less profitable investment.
To calculate the IRR, you need to know the initial cost of the investment, the expected cash flows over the life of the investment, and the discount rate used to calculate the present value of those cash flows. The IRR can be calculated manually using iterative methods or using financial software such as Excel or a financial calculator.
P.S: Your information is incomplete and an overview was given.
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Future value is the __________ value of an investment at some time in the future.
The value of a current asset at some point in the future, based on an estimated growth rate, is known as future value (FV). Using the FV calculation, investors may predict an investment's profit with reasonable certainty.
What is an Investment?Investments are financial commitments made to acquire assets in the hopes that their value would rise over time. Investment necessitates the loss of a current resource, such like time, wealth, or effort. In the world of finance, investing is done in order to profit from the asset being put to use. A gain (profit) or loss realised through the sale of a home or investment, unrealized capital gain (or loss), investment income like dividend, interest, or rental income, or a mix of capital gain and income may all be included in the return. The return can additionally involve foreign exchange profits or losses as a result of shifting exchange rates. Riskier investments typically provide better returns, according to investors.
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Sandy and her improvement team test the new pain control idea in the cardiac unit over the course of six weeks. The results continue to show improvement. What phase will the project enter next?
(A) Plan
(B) Act
(C) Implementation
(D) Spread
Sandy and her improvement team test the new pain control idea in the cardiac unit over the course of six weeks. The results continue to show improvement. The project will enter the Implementation phase.
The act of carrying out a plan, a method, or any other design, idea, model, specification, standard, or policy is known as implementation. As a result, for something to actually occur, action must come after any previous thinking.
Many kinds of business plans and initiatives are carried out in business. A collection of procedures followed in order to accomplish specific company goals is known as a business implementation plan.
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A term life insurance policy will pay a beneficiary a certain sum of money upon the death of the policyholder. These policies have premiums that must be paid annually. Suppose a life insurance company sells a $200,000 one-year term life insurance policy to a 49-year-old female for $620. According to the National Vital Statistics Report, Vol. 47, No. 28, the probability the female will survive the year is 0.997. (a) Compute the expected profit to the insurance company for selling such a policy. (b) Interpret the value of expected profit in (a) in the context of the problem.
(A) The insurance firm expects to make $620 ($1-0.997) = $1.86 in profit. (b) Considering the likelihood that the policyholder would live to see the next year, the insurance company may anticipate making an average profit of $1.86 for each policy it sells.
(a) The difference between the premium paid by the policyholder and the anticipated payout in the event of the policyholder's death is the projected profit to the insurance company from selling the policy. The predicted payoff is (1 - 0.997)*$200,000 = $600 and is calculated by multiplying the death benefit by the likelihood of death. Hence, $620 - $600 = $20 represents the anticipated profit for the insurance firm.
(b) The value of the projected profit indicates the typical amount of profit that the insurance provider may anticipate earning from the sale of one-year term life insurance policies to people who have the same traits as the example policyholder.
The fact that the predicted profit in this situation is so minimal implies that the insurance provider is appropriately pricing the policy based on the likelihood of a payment.
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market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry
A market structure in which a few large sellers will dominate the market and have the ability to affect prices in the industry is called an oligopoly.
In an oligopoly, a couple of huge firms overwhelm the market, and they have the ability to impact costs and other market factors. The way of behaving of firms in an oligopoly is associated, implying that they make into account the moves of their adversaries while deciding.
This can prompt complex estimating techniques, item separation, and other serious ways of behaving that may not be available in other market structures. Instances of ventures that are in many cases considered oligopolies incorporate the auto business, broadcast communications, and the aircraft business.
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Complete Question - market structure in which a few large sellers dominate the market and have the ability to affect prices in the industry _______
according to balancing liberty and the pursuit of well-being, the free market fails to protect supplier interests.true/false
True. According to some perspectives on balancing liberty and the pursuit of well-being, the free market can fail to adequately protect the interests of suppliers.
In a free market, buyers and sellers are able to engage in voluntary exchanges without government intervention. While this can promote competition and innovation, it can also lead to power imbalances between buyers and sellers. Buyers, who may have greater bargaining power due to factors such as their size or purchasing volume, can often dictate the terms of the transaction, leaving suppliers with limited options for negotiation.
Additionally, in some cases, suppliers may be forced to engage in unethical practices in order to meet buyer demands or to compete with other suppliers. This can include cutting corners on quality, violating labor laws, or engaging in other forms of exploitation.
Furthermore, the pursuit of well-being requires not just economic prosperity, but also social and environmental sustainability. The free market can sometimes fail to account for the externalities of economic activity, such as pollution or exploitation of natural resources, which can have negative impacts on society and the environment.
Therefore, in order to effectively balance liberty and the pursuit of well-being, it may be necessary to implement regulations and policies that protect the interests of suppliers, ensure ethical business practices, and promote social and environmental sustainability. This can help to create a more just and equitable economic system that promotes both individual freedom and the common good.
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amc entertainment announced a plan to charge different prices for movie tickets based on what?
AMC Entertainment announced a plan to charge different prices for movie tickets based on factors such as the popularity of the movie, the time of day, the day of the week, and other market-driven factors.
The idea behind variable pricing is to maximize revenue by charging more for tickets during peak times when demand is high and less during off-peak times when demand is low. This practice is already common in other industries, such as airlines, hotels, and ride-sharing services.
The new pricing strategy is part of AMC's efforts to recover from the pandemic-induced financial losses and adapt to changing consumer behavior. The company hopes that variable pricing will help it better compete with streaming services, which have become more popular during the pandemic.
However, the move has faced criticism from some consumers who fear that it may lead to higher prices overall and reduce accessibility to movies for low-income families. Nevertheless, AMC argues that variable pricing would enable them to offer more affordable ticket prices during off-peak times and give consumers more options to choose from.
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according to mr. cochran, there is a strong, significantly positive relationship between diversity and corporate innovation. true or false?
The given statement, "According to Mr. Cochran, there is a strong, significantly positive relationship between diversity and corporate innovation." is true because diverse teams bring different perspectives and lead to more creative and innovative solutions.
Mr. Cochran's research has found that companies with diverse teams have an advantage when it comes to corporate innovation. Diversity brings a variety of perspectives and approaches, which leads to increased creativity and ultimately, better solutions.
As such, a strong and significantly positive relationship between diversity and corporate innovation can be observed. It is important for organizations to recognize and prioritize the value of diverse teams in order to maximize the potential of corporate innovation.
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hydraulic fracturing is an advancement in production techniques that lowers the cost of producing natural gas. use the graph to illustrate the impact this advancement has on the market for natural gas, holding all else constant. what impact does this advancement have on equilibrium price and quantity? equilibrium price increases and equilibrium quantity decreases. equilibrium price decreases and equilibrium quantity decreases. equilibrium price stays the same and equilibrium quantity decreases. equilibrium price decreases and equilibrium quantity increases.
According to the graph, we can say that it promotes a decrease in the equilibrium price and an increase in the equilibrium quantity, as shown by the last answer option.
What is the equilibrium price?It is the ideal price to avoid shortages or excess products.It is a price that keeps the quantity supplied equal to the quantity demanded of a product.In the question above, we can see that hydraulic fracturing reduces natural gas production costs. With a lower cost of production, producers will lower the product's price, increasing the demand for it.
This means that by decreasing the equilibrium price, it is necessary to increase the equilibrium quantity in order to maintain a harmonious supply and demand relationship.
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