Gelb Company currently manufactures 56,500 units per year of a key component for its manufacturing process. Variable costs are $4.05 per unit, fixed costs related to making this component are $85,000 per year, and allocated fixed costs are $78,500 per year. The allocated fixed costs are unavoidable whether the company makes or buys this component. The company is considering buying this component from a supplier for $3.50 per unit. Calculate the total incremental cost of making 56,500 units and buying 56,500 units. Should it continue to manufacture the component, or should it buy this component from the outside supplier
Answers
Answer:
Incremental Costs to Make
Variable Cost Per Unit = $4.05 = 56,500 units*$4.05 = $228,825
Fixed Manufacturing Costs = $85,000
Total Incremental Costs to Make $313,825
Incremental Costs to Buy
Purchase Price Per Unit = $3.50 = 56,500 unit*$3.50 = $197,750
Total Incremental Cost to Buy = $197,750
The company should buy the component from outside supplier as it results in a lower total incremental cost of $197,750
Related Questions
1. Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
(a) None of the homes are owned by Agent Ryan
(b) Ryan discloses to Broker Bradley that he will show homes listed by XYZ Realty
(c) Delia gives verbal consent to see homes listed by XYZ Realty
(d) Delia has given written Intermediary consent
Answers
Ryan can show Delia homes listed with XYZ Realty and other brokers in the market if:
Delia has given written Intermediary consent Delia gives verbal consent to see homes listed by XYZ Realty None of the homes are owned by Agent RyanWhen can homes be shown in the marketDelia gives verbal consent to see homes listed by XYZ Realty: This condition highlights the significance of Delia's consent. If Delia explicitly gives verbal consent to Ryan, it signifies that she is comfortable with viewing homes listed by XYZ Realty. Delia's consent is crucial in allowing Ryan to proceed with showing homes from XYZ Realty.
(d) Delia has given written Intermediary consent: This condition specifically refers to written consent in the form of an intermediary agreement. In some cases, Delia may choose to engage Ryan as an intermediary, authorizing him to show homes listed by multiple brokers, including XYZ Realty.
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Multiple Choice:
- 10 weeks
- 15 weeks
- 13 weeks
- 7 weeks
Answers
The project completion time is when all the activities are performed and the whole project is ready that is 15 Weeks.
What is a project?A project is an activity or a set of activity that takes place, the completion of those activities will mark the project as complete.
The project time that will be required is 15 Weeks, in the diagram provided the activity A1 needs to be performed first and after completion of activity A1, A2 needs to be done and only then A3 can be performed. The whole project will be completed at 15 Weeks (5+8+2). While if activity A2 is left the project can be completed in 7 weeks (5+2).
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Based on the principles of psychological pricing, which of the following price adjustment would likely have the greatest positive impact on sales? A. From $51.50 to $51.45, B. From $51 to $50, C. From $58 to 56, D. From $50 to $49
Answers
Based on the principles of psychological pricing, a $50 to $49 price adjustment will likely have the greatest positive impact on sales.
Setting prices below a whole number is referred to as psychological pricing. For instance, $3.99 is perceived as "cheaper" than $4. Customers are expected to view the marginally reduced price as a bargain and be encouraged to make the purchase.
The primary goal of psychological pricing is to boost sales. Maximizing profits for the services and goods a business provides requires employing a variety of strategies or sticking with one that has been consistently shown to be effective.
Hence, the correct answer is "D" option
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Answer:
$50-$49
Explanation:
What are some Drawbacks of business Debt?
Answers
Answer:Paying Back the Debt. Making payments to a bank or other lender can be stress-free if you have ample revenue flowing into your business. ...
High Interest Rates.
The Effect on Your Credit Rating.
Cash Flow Difficulties.
Explanation:
Kim's brokerage company offers dual agency. Tom and Don are two of her licensed agents. Tom ha been appointed to represent the seller, and Don has been appointed to represent the buyer in an in-house transaction. In this situation, who is a dual agent ? A. Kim only B. Kim, Tom, and Don only C. all licensed agents Kim's broker age D. no one.
Answers
Answer:
A. IS THE ANSWER
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The economic principle of Time
Preference states that people prefer to
have something today rather than have
the same thing tomorrow. Which of the
following examples illustrates this
choice?
A. preferring two dollars tomorrow rather than five
dollars today
B. preferring two dollars tomorrow rather than two
dollars today
C. preferring one dollar today rather than one dollar
tomorrow
Answers
The guiding concept states that individuals would choose not to have another dollar tomorrow over "something today," which is the single dollar, and "rather than the same thing tomorrow." As a result, choice (C) is correct.
What is time preference theory?The agio theory of interest, also known as the time preference theory of interest, contributes to the understanding of the time value of money.
According to this hypothesis, individuals prefer to spend money now rather than preserve it for the future. This way, interest rates will always be positive, making today's money more valuable than tomorrow's.
Interest rates are explained differently by other theories, such as the classical theory. In his book "The Hypothesis of Interest," economist Irving Fisher proposed this theory.
Hence, Option (C) is accurate.
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What is market environment
Answers
Answer:
The market environment is the combination of external and internal factors that affect a company's ability to establish a relationship with and serve its consumers.
Explanation:
The internal factors relate to the company itself, such as owners, workers, materials, components, etc.
The external factors are divided into macro and micro components. The macro component is the broad environment which includes societal forces that affect society as a whole. The micro component is task-related, which includes factors that influence the production, manufacturing and distribution of a product or service.
Which statement is true regarding monopolistic competition?
Answers
Answer:
AR>MR
--------------------------------------
WHERE ARE THE OPTIONS.
The same process that applies to everyday communication applies to communication in the workplace. Understanding the steps in this process can help you craft more meaningful and effective messages.
Which parts of the communication process are described in the following scenario?
An instant message pops up on Kate's computer screen. Kate clicks the "accept" button and begins to read the message.
When Kate understands the meaning of the instant message, Kate is engaged in .
Kate sends an instant message to the sender so that he or she knows that the message was received and understood. Kate is engaged in .
For the communication process to be successful, the receiver must understand the information sent by the sender. Communication barriers, however, can complicate the process. Familiarizing yourself with common obstacles will make you better equipped to avoid them.
Consider this situation, and answer the questions that follow.
Your team is preparing for the next round of bids on a new collection of sculptures. "As you can see, sales are flat in the Western region," the presenter says. "We need to negotiate a good rate to offset our Western losses."
You were well prepared for the meeting, but the minor car accident you had in the parking lot yesterday has you worried. You check your smartphone, reading the insurance adjustor’s report. One of your colleagues says, "We’ll take care of that," and looks at you. "Right?" she asks. You don’t know how to respond because you’re not sure what she’s referring to.
What communication barrier is described in this situation?
Differing frames of reference
Distractions
Bypassing
How might you overcome this communication barrier in the future?
Focus on your smartphone.
Turn off your smartphone.
Leave the room to access your smartphone.
Answers
Unclear question. Below are the questions deduced;
When Kate understands the meaning of the instant message, Kate is engaged in____.
Kate sends an instant message to the sender so that he or she knows that the message was received and understood. Kate is engaged____in .
Consider this situation, and answer the questions that follow.
Your team is preparing for the next round of bids on a new collection of sculptures. "As you can see, sales are flat in the Western region," the presenter says. "We need to negotiate a good rate to offset our Western losses."
You were well prepared for the meeting, but the minor car accident you had in the parking lot yesterday has you worried. You check your smartphone, reading the insurance adjustor’s report. One of your colleagues says, "We’ll take care of that," and looks at you. "Right?" she asks. You don’t know how to respond because you’re not sure what she’s referring to.
What communication barrier is described in this situation?
Differing frames of referenceDistractionsBypassingHow might you overcome this communication barrier in the future?
Focus on your smartphone.Turn off your smartphoneLeave the room to access your smartphoneExplanation:
When Kate understands the meaning of the instant message, Kate is engaged in communication because she understands what was been communicated.
Distraction is the communication barrier been described in this situation because we could notice that the subject became distracted checking his smartphone, reading the insurance adjustor’s report; which ultimately became a barrier to his colleague's communication.
Turning off one's smartphone might help to overcome this communication barrier in any future meeting; this will allow for better concentration.
The website that was the primary catalyst for growing electronic government, and is the official U.S. gateway to all government information?
a. Government.gov
b. TheUnitedStatesofAmerica.org
c. TheWhiteHouse.com
d. FirstGov.gov
Answers
Answer:
D
Explanation:
The website that was the primary catalyst for growing electronic government, and is the official U.S. gateway to all government information is the firstGov.gov. The website is now the USA.gov
The firstgov.gov website was created by the United States General Services Administration. Part of the reason for its creation is to improve the citizens interaction with the government. The website directs visitors to the services or information they are looking for, it also seems public opinion on how to improve government.
8. In the 2011-2012 season, Billy Beane was voted top GM on the American League. What
was his team's record and what was his payroll? What was the New York Yankees record and
what was their payroll?
Answers
His team, the Oakland Athletics, finished the regular season with a record of 94-68. Despite having a relatively low payroll compared to other teams in the league. The New York Yankees had a record of 95-67 during the same season, finishing just one game ahead of the Athletics. However, the Yankees had a much higher payroll than the Athletics, with an estimated total of $203 million compared to Oakland's estimated $66 million.
The Athletics were able to succeed due to Beane's strategic use of analytics and statistics to identify undervalued players. Beane's success with the Athletics during the 2011-2012 season highlighted the importance of using data-driven decision-making to build a competitive team, even with a smaller budget.
His approach inspired a new era of analytics in baseball, with many teams now using advanced statistics to evaluate players and make strategic decisions. Overall, Beane's success with the Athletics serves as a testament to the power of innovative thinking and data-driven decision-making in sports and beyond.
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Giant Ltd acquired 80 percent share capital of Expert Ltd. On 1 July 2018 for a cost of $1,600,000. As at the date of acquisition, all assets and liabilities of Expert Ltd were fairly valued except a land that has a carrying value $150,000 less than the fair value. The recorded balance of equity of Expert Ltd as at 1 July 2018 were as: Share capital $800,000 Retained earnings $200,000 General Reserve $400,000 Total $1,400,000 Additional information: The management of Giant Ltd values non-controlling interest at the proportionate share of Expert Ltd identifiable net assets. Expert Ltd has a profit after tax of $200,000 for the year ended 30 June 2019. During the financial year to 30 June 2019, Expert Ltd sold inventory to Giant Ltd for a price of $120,000. The inventory costs Expert Ltd $60,000 to produce. 25 percent of the inventory are still on the hand of Giant Ltd as at 30 June 2019. During the year Expert Ltd paid $60,000 in consultancy fees to Giant Ltd. On 1 July 2018, Expert Ltd sold an item of plant to Giant Ltd $80000. The equipment had a carrying value of $60,000 (Cost $100,000, accumulated depreciation $40,000). At the date of sale, it was expected that the equipment had a remaining life of 4 years and no residual value. The tax rate is 30 percent. Required: a) Based on the above information, calculate the non-controlling interest as at 30 June 2019. (6.5 marks) b) Prepare the necessary journal entries to recognise the non-controlling interest as at 30 June 2019. (3.5 marks)
Answers
Answer and Explanation:
1. For computation of the non-controlling interest as at 30 June 2019 is shown below:-
Adjusted profit = Profit tax after the year - Unrealized gain in stock - Gain on machinery
= $200,000 - $10,500 - $10,500
= $179,000
Non-controlling interest as at 30 June 2019 = Share capital + Retained earning + General reserve + Profit of the year June 2019
= ($800,000 × 20%) + ($200,000 × 20%) + ($400,000 × 20%) + ($179,000 × 20%)
= $160,000 + $40,000 + $80,000 + $35,800
= $315,800
2. The Journal entries are shown below:-
a. Profit for the year Dr, $21,000
To Stock reserves $10,500
To Equipment reserve $10,500
(Being reserves is recorded)
Working note:
For stock reserve
Sale price $120,000
Cost $60,000
Profit before tax $60,000
Tax at 30% $18,000
Profit after tax $42,000
Unsold stock 25%
Unrealized profit $10,500
For net gain on sale of machinery
Sale price $80,000
Cost $60,000
Profit before tax $20,000
Tax at 30% $6,000
Profit after tax $14,000
Unsold stock 75% (3 years from 4 years)
Unrealized profit $10,500
b. Profit for the year Dr, $179,000
To Consolidated reserves and surplus $35,800
To Non controlling interest $143,200
(Being profit of expert ltd. is recorded)
Working note
Share of non controlling stakeholders = 20% × $179,000
= $35,800
Share of Giant Ltd. = 80% × $179,000
= $143,200
We do not make any adjustment with respect to consultancy fees
The ledger of Columbia, Inc. on March 31, 2014, includes the following selected accounts before adjusting entries.
Debit Credit
Prepaid Insurance 2,240
Supplies 3,120
Equipment 36,000
Unearned Service Revenue 13,600
An analysis of the accounts shows the following.
1. Insurance expires at the rate of $280 per month.
2. Supplies on hand total $960.
3. The equipment depreciates $240 per month.
4. During March, services were performed for two-fifths of the unearned service revenue.
Prepare the adjusting entries for the month of March.
Answers
Answer:
Journal 1
Debit : Insurance expense $280
Credit : Prepaid Insurance $280
Being Insurance expense recognized
Journal 2
Debit : Supplies expense $2,160
Credit : Supplies $2,160
Being Supplies Expense Recognized
Journal 3
Debit : Depreciation expense $240
Credit : Accumulated depreciation $240
Being Depreciation expenses recognized
Journal 4
Debit : Unearned Service Revenue $5,440
Credit : Service Revenue Earned $5,440
Being Service Revenue Earned being recognized
Explanation:
Expenses are decreases in income that results as an increase in liabilities and decreases in assets. Note the Decreases in Assets and Increases in Liabilities that have occurred - they represent Expenses which need to be recognized.
Service revenue is recognized when the services are actually performed, thus Reverse the Unearned Service Revenue when services are performed.
forward linking sector
Answers
Answer:
wut?
Explanation:
Erin Murdoch, an architect, organized Modern Architects on January 1, 20Y4. During the month modern Architects completed the following transactions
Answers
The journal entries to record these transactions would be:
1. Cash 25,000, Capital 25,000
2. Insurance Expense 800, Cash 800
3. Equipment 5,000, Cash 5,000
4. Rent Expense 1,400, Cash 1,400
5. Service Revenue 2,000, Accounts Receivable 2,000
6. Salaries Expense 1,000, Cash 1,000
7. Accounts Payable 2,000, Supplies Expense 2,000
What is the journal entry?In the accounts of your company, a record of a commercial transaction is referred to as a "journal entry."
When you maintain your books using the double-entry method, you record every transaction in at least two different journal entries.
Journal entries are used by a bookkeeper to keep track of all of the many changes that are brought about in a firm as a result of transactions.
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CQ
Erin Murdoch, an architect, organized Modern Architects on January 1, 20Y4. During the month modern Architects completed the following transactions
1. Erin contributed $25,000 cash to start the business
2. Paid $800 for insurance
3. Purchased office equipment for $5,000 cash
4. Paid $1,400 rent for the month
5. Earned $2,000 in design fees
6. Paid $1,000 in salaries
7. Purchased supplies on account for $2,000
What is the jounal entry
Sally goes out to lunch with Mike and Fred. Each person orders the
$9 lunch special. Sally agrees to pay the bill. How much will she have to pay ?
Answers
Answer: 27
Explanation: if there are 3 people ordering the same lunch and the lunch is 9 dollars. That’s 9x3 which is $27 and the amount of money sally will have to pay.
Which of the following is not a product category?
a. Shaving products
b. Sunscreen
c. Soft drinks
d. Tobacco products
e. All of these are product categories.
Answers
Answer:
All of these are product categories.
Your losses from a stolen ATM card are unlimited if you fail to report unauthorized use within 30 days after your statement is mailed to you.
a. True
b. False
Answers
What basic economic question is addressed in the press release?
Answers
Answer:
for whom to produce
Explanation:
for whom to produce
5. The process of production is complete
when...
A.goods of the right quality and
quantity reach the consumers.
B.the manufacturer produces a given
amount of goods.
C. retailers prepare goods for sale to consumers.
D. wholesalers buy goods from the
manufacturer.
Answers
The process of production is complete when retailers prepare goods for sale to consumers. Hence, Option C is correct.
What is the production process?Capital, labour, technology, land, and other resources are considered factors of production because they are utilised to produce output, which includes commodities and services.
One of the most crucial procedures in manufacturing is production, which is essential to understanding what it means to be a manufacturer. Without this activity, there would be nothing produced that could be sold to buyers as finished goods.
Therefore, Option C is correct.
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Pilot plus Pens is deciding when to replace its old machine. The old machine’s current salvage value is $2 million. Its current book value is $1 million. If not sold, the old machine will require maintenance costs of $400,000 at the end of the year, for the next five years. Depreciation on the old machine is $200,000 per year. At the end of five years, the old machine will have salvage value of $200,000 and a book value of $0. A replacement machine costs $3 million now and requires maintenance costs of $500,000 at the end of each year during its economic life of five years. At the end of five years, the new machine will have a salvage value of $500,000. It will be fully depreciated by the straight-line method. In five years, a replacement machine will cost $3,500,000. Pilot will need to purchase this machine regardless of what the choice it makes today. The corporate tax rate is 34% and the appropriate discount rate is 12%. The company is assumed to earn sufficient revenues to generate tax shields from depreciation. Should Pilot Plus replace the old machine now or at the end of five years? no excel and financial calculator, so please show the answer by hand written and how u get to the numbers
Answers
Because just use adrid method took me 1 hour
The company should replace the machinery now as the NPV of old machine is very less as compared to new machine.
What do you mean by Salvage value?The estimated value of an item at the end of its useful life is known as salvage value.
Old machine Depreciation Cash flow PV of cash flow
0 2,200,000
1 (845,000) 112,000 (733,000) (678,704)
2 (845,000) 112,000 (733,000) (628,429)
3 (845,000) 112,000 (733,000) (581,879)
4 (845,000) 112,000 (733,000) (538,777)
5 (845,000) 112,000 120,000 (613,000) (417,197)
Total (2,844,986)
NPV (5,044,986)
\(Cash\ flow\ from\ depreciation = Depreciation * Tax rate\)
\(PV\ of\ cash\ flow = Cash\ flow / (1 + i )x^{n} , \\where\ is\ 8\% \\n\ is\ no.\ of\ year.\)
\(Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machiner\y = Total\ salvage\ value\ of\ old\ machine\ - Book\ value\)\(Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machinery = 2,200,000 - 1,400,000Capita\ gain\ tax\ on\ the\ sale\ for\ old\ machinery = $800,000\)
\(Capital\ gain\ tax = 40\% * Capital\ gain\ tax\ on\ the\ sale\ for\ old\ machineryCapital\ gain\ tax = 40\% * 800,000Capital\ gain\ tax = 0.40 * 800,000Capital\ gain\ tax = $320,000\)
\(Effective\ investment\ outlay\ = Cost\ of\ new \machinery - Actual\ cash\ inflow\ from\ sale\ of\ old\ machineryEffective\ investment\ outlay = 4,300,000 - 1,880,000Effective\ investment\ outlay = $2,420,000\)
Therefore, The company should replace the machinery now as the NPV of old machine is very less as compared to new machine.
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You have a SQL database that has the name of the countries and their population. You would like to ONLY get the name of the top 3 most populated countries. Which query will do it for you
Answers
Answer:
monologue to Puja the importance of 5small the importance of small scale and the importance of small businesses and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and place in I have heard a lot about it was thor to Puja and the importance of small scale and the importance of small scale of the park is my new account for the importance of small scale and the importance to Puja the importance of small scale of small scale and the importance of small scale and the importance of to
Explanation:
CUZ THE same time to Puja the importance of small scale and the other day I think the importance to Puja the importance of small scale of small businesses and the importance of small scale 4hhdhshdhdhdhehdhdhdhfh3 hhdjddh come back from a re of small businesses and the importance of small scale and 4place to Puja the importance of small scale and the importance to Puja and the importance of small scale and the importance to Puja the importance of small scale and the importance of small scale 2nd sea using the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance of small scale and the importance to Puja and the importance of small scale and the importance of small scale and the
The balance sheet data below pertain to American Pulp and Paper for the recent year ended. In addition, sales were $60 million. For the coming year, management believes that sales will increase by 20% to a total of $72 million. The profit margin is expected to be 5%, and the dividend payout ratio is targeted at 40%. No excess capacity exists. Determine the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method.
Answers
Answer:
$0.24 million
Explanation:
Calculation to Determine the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method
Additional Funds Needed (AFN) =[ (14/60)(12) - (2/60)(12)]- (0.05)(72)(.6)
Additional Funds Needed (AFN) = ($2.8 - 0.4) -$2.16
Additional Funds Needed (AFN) =$0.24 million
Therefore the additional funds needed (AFN) in millions of dollars for the coming year using Additional Funds Needed (AFN) Equation Method is $0.24 milion
During lunch time, customers arrive at a postal office at a rate of lambda equals 36 per hour. The interarrival time of the arrival process can be approximated with an exponential distribution. Customers can be served by the postal office at a rate of mu equals 45 per hour. The service time for the customers can also be approximated with an exponential distribution. For each of the following questions, show your work and use the right notation.
Required:
Determine the utilization factor.
Answers
Answer:
the utilization factor is 4 ÷ 5
Explanation:
The computation of the utilization factor is shown below:
given that
Customer arrives at the rate of λ equivalent to the 36 per hour
And, Customers can be served by the postal office at a rate of μ equivalent to the 45 per hour
λ = 36 / hour
μ = 45 / hour
Now utilization factor is
P = λ ÷ μ
= 36 ÷ 45
= 4 ÷ 5
Thus, the utilization factor is 4 ÷ 5
A fitness center’s drink machine has been empty for two weeks.When the delivery person arrives to refill the machine the fitness centers manager complains that the fitness center has lost money what should the delivery person do
Answers
When the fitness center manager complains that the center has lost money due to the empty machine, the delivery person should show empathy, take ownership of the problem, and offer solutions that can help prevent future occurrences of the problem.
As a delivery person responsible for refilling a fitness center’s drink machine, the best approach to take when the fitness center manager complains that the center has lost money due to the empty machine is to show empathy, take ownership of the problem, and offer solutions that can help prevent future occurrences of the problem.
Here are some tips on how to respond to the fitness center manager’s complaint and help prevent future occurrences of the problem:
Show Empathy As a delivery person, it's important to show empathy by acknowledging the manager’s frustration with the situation. This can help establish trust with the manager and encourage them to view you as a helpful and reliable resource.
Take Ownership of the Problem It is also important to take ownership of the problem by accepting responsibility for the issue and demonstrating that you are willing to work with the manager to find a solution. By doing so, you can help the manager feel confident that you will take steps to prevent future occurrences of the problem.
Offer Solutions To prevent future occurrences of the problem, the delivery person should offer some solutions. For instance, the delivery person can schedule regular deliveries to ensure that the machine is always stocked, or create a system where the manager can request a refill if necessary. This will help prevent future occurrences of the problem.
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Interests banks pay to borrower from other banks
Answers
Answer: interbank lending market
Explanation:
the amount of accelarated death benefits that will be paid to an insured
Answers
Answer:
hope this will help you
Explanation:
Accelarated death benefits can be as high as 95% of the death benefits. Typically the insurance company sets a maximum benefit account based on life expectancy and , the policyholder make the final decision of how much a finanical advance they require. Accelarated death benefits are not taxed
WBS for the knowledge area of Human/Resource Management for a low-cost housing project
Answers
Here's an example of a WBS for the knowledge area of Human/Resource Management for a low-cost housing project:
The wbs for a knowledge area of Human/Resource Management for a low-cost housing projectHuman/Resource Management
1.1 Staffing Plan
1.1.1 Define project roles and responsibilities
1.1.2 Identify required staffing resources
1.1.3 Determine the project team structure
1.1.4 Develop a staffing plan and budget
1.2 Recruitment and Selection
1.2.1 Create job descriptions and specifications
1.2.2 Advertise and promote job openings
1.2.3 Review resumes and conduct initial screenings
1.2.4 Conduct interviews and select candidates
1.2.5 Perform background checks and reference checks
1.2.6 Extend job offers and negotiate terms
1.3 Training and Development
1.3.1 Assess training needs for project team members
1.3.2 Develop a training plan and schedule
1.3.3 Conduct training sessions and workshops
1.3.4 Provide on-the-job training and mentoring
1.3.5 Evaluate training effectiveness and adjust as needed
1.4 Performance Management
1.4.1 Set performance expectations and goals
1.4.2 Monitor and assess individual and team performance
1.4.3 Provide feedback and coaching to improve performance
1.4.4 Conduct performance appraisals and evaluations
1.4.5 Identify and address performance issues or conflicts
1.5 Resource Allocation
1.5.1 Identify project resource requirements
1.5.2 Allocate resources based on project needs
1.5.3 Monitor resource utilization and availability
1.5.4 Optimize resource allocation to meet project objectives
1.6 Stakeholder Management
1.6.1 Identify project stakeholders and their interests
1.6.2 Develop a stakeholder engagement plan
1.6.3 Communicate and manage stakeholder expectations
1.6.4 Address stakeholder concerns and resolve conflicts
1.6.5 Maintain positive relationships with stakeholders
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Choose the response that correctly completes the following sentence describing the tax treatment and reporting requirements for municipal bond interest
Interest income from this type of investment is:
A. federally taxable and must be reported on form 1040
B. nontaxable and does not have to be reported
C. not federally taxable but must be reported on form 1040
D. not federally taxable and only reportable on form 1040 when the amount received exceeds $1,500
Answers
Interest income from this type of investment is: Option C. not federally taxable but must be reported on form 1040.
What is municipal bond interest?These can be viewed as loans that investors give to local governments and are used to pay for infrastructure projects like parks, libraries, bridges, and highways. Municipal bonds are an appealing investment choice for people in high tax brackets because interest on them is frequently tax free.
Municipal bonds are financial securities that are issued by local or state governments to raise money for certain public projects or to simply fund continuing operations. In exchange for making a financial debt to that government, the investor will receive interest payments until the bond matures.
Therefore, Municipal bonds provide stability for your capital with low default rates, even though they may have lower interest rates than riskier investments like corporate bonds or stocks.
Learn more about municipal bond interest from
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SCENARIO INTRODUCTION
Use the information provided below to complete the questions.
Suppose a small economy has two income tax rates: 20% for all income up to $50,000 and 30% for any income earned above $50,000. Suppose that the economy has a Government Budget for this year (year 1) of $70,900.00, and a total of five individuals earning the following income: Carla $28,000, Ben $49,000, Jennifer $50,000, Donnie $75,000, Maria $110,000. In chapter 5 we saw that GDP can be calculated in two ways, via the expenditure approach or the income approach, and that when the income approach is used, there must be adjustments made to National Income, specifically adding the Consumption of Fixed Capital and a Statistical Discrepancy. For the sake of simplicity, let's imagine that National Income is equal to GDP, in other words the Consumption of Fixed Capital and the Statistical Discrepancy are equal to zero.
CALCULATING TAX REVENUES - YEAR 1
1. Calculate the Total Tax Revenues. a) what would be the total tax revenue paid by each of the five citizens? b) what is the total tax revenue for the small nation? (16 points)
2. What is the small Nation's Income in year 1? (6 points)
3. What percent of the Nation's Income does the Total Tax Revenue represent? (6 points)
4. In year 1, does the economy have a balanced budget, a budget surplus, or a budget deficit. Accompany your response with the corresponding dollar amount. (6 points)
CALCULATING TAX REVENUES - YEAR 2
5. Now assume that a recession (triggered by a reduction of Aggregate Demand) causes each of the five incomes to fall by 20%. In other words, income is 80% of what they used to be. Given the lower income, a) what would be the total tax revenue paid by each of the five citizens? b) what is the total tax revenue for the small nation? (18 points)
6. What is the Nation's Income in year 2? (6 points)
7. In year 2, what percent of the Nation's Income does the Total Tax Revenue represent? (6 points)
8. Suppose that the Government Budget remained the same in year 2. Is the economy experiencing a balanced budget, a budget surplus, or a budget deficit, in year 2? Accompany your response with the corresponding dollar amount. (6 points)
PUTTING IT ALL TOGETHER - PART 3
9. Using the answers for part 1 and part 2. Explain how this progressive tax structure (20% and 30% tax brackets) acts as an automatic stabilizer. (10 points)
10. Using the answers for part 1 and part 2. What is the size of the recessionary Gap? In other words, what is the dollar value of the GDP that is being lost (not produced) because of the recession? (10 points)
11. Assuming a Marginal Propensity to Save (MPS) of 20% or 0.20, use the Keynesian Multiplier to determine the additional amount of government spending required. (10 points)
Answers
Explanation:
a) Carla pays 20% of $28,000 which is $5,600.
Ben pays 20% of $49,000 which is $9,800.
Jennifer pays 20% of $50,000 which is $10,000.
Donnie pays 20% of the first $50,000 of income which is $10,000 and 30% of the remaining $25,000 which is $7,500, making a total of $17,500.
Maria pays 20% of the first $50,000 of income which is $10,000 and 30% of the remaining $60,000 which is $18,000, making a total of $28,000.
b) The total tax revenue for the small nation is $70,900, since that is the government budget.
2) The small nation's income in year 1 is the sum of the incomes of all five citizens, which is $312,000($28,000 + $49,000 + $50,000 + $75,000 + $110,000).
3) The total tax revenue represents 22.7% ($70,900 ÷ $312,000 x 100%) of the nation's income.
4) The small economy has a budget deficit of $0.00, since the government budget is equal to the total tax revenue.
5)
a) Carla pays 20% of 80% of $28,000 which is $4,480.
Ben pays 20% of 80% of $49,000 which is $7,840.
Jennifer pays 20% of 80% of $50,000 which is $8,000.
Donnie pays 20% of the first $50,000 of income which is $10,000 and 30% of 80% of the remaining $25,000 which is $6,000, making a total of $16,000.
Maria pays 20% of the first $50,000 of income which is $10,000 and 30% of 80% of the remaining $60,000 which is $14,400, making a total of $24,400.
b) The total tax revenue for the small nation is $60,720.
6) The small nation's income in year 2 is the sum of the incomes of all five citizens, which is $249,600 ($22,400 + $39,200 + $40,000 + $60,000 + $88,000).
7) The total tax revenue represents 24.3% ($60,720 ÷ $249,600 x 100%) of the nation's income.
8) The small economy has a budget deficit of $10,180 ($70,900 - $60,720), since the total tax revenue is less than the government budget.
9) The progressive tax structure acts as an automatic stabilizer because during a recession, when incomes fall, the amount of tax revenue collected also falls. This provides some relief to taxpayers who are experiencing lower income and helps to lessen the severity of the recession.
10) The size of the recessionary gap is the difference between the income in year 1 and the income in year 2, which is $62,400 ($312,000 - $249,600).
11) The Keynesian Multiplier is 1 ÷ (1 - MPS) = 1 ÷ (1 - 0.20) = 1.25. To determine the additional amount of government spending required, we can use the following formula:
Change in GDP = Multiplier x Change in Government Spending
Since the recessionary gap is $62,400, the change in government spending required is:
$62,400 = 1.25 x Change in Government Spending
Change in Government Spending = $49,920.
Therefore, the additional government spending required is $49,920.