Excise and Sales Tax Calculations
Clifford Company has just billed a customer for $1,100, an amount that includes a eight percent excise tax and a two percent state sales tax.
a. What amount of revenue is recorded?
b. Prepare a general journal entry to record the transaction on the books of Clifford Company.
Round all answers to the nearest dollar.
a. Amount of recorded revenue $Answer
990
b.
General Journal
Date Description Debit Credit
Dec.31 Answer
Accounts Receivable
Answer
1,100
Answer
0
Excise Tax Payable Answer
0
Answer
9
Sales Tax Payable Answer
0
Answer
0
Answer
Sales
Answer
0
Answer
990
To record sale on account subject to excise tax and sales tax.
Answers
A sales tax is a fee that is paid to the government when specified goods and services are sold. Typically, laws permit the vendor to charge the customer the tax at the time of purchase.
Use taxes are typically used to describe taxes on goods and services that consumers pay directly to a governing authority. The sale and use tax is frequently exempted for some goods and services, including food, education, and medical.
A sales tax is similar to a value-added tax (VAT) that is levied on products and services. Key distinctions can be found in the comparison with sales tax.
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Related Questions
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Answers
Based on the cost of production by Stam Company, the overhead rate which is applied to the jobs are:
Data and Calculations:
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $33,600 $41,900
Direct labor used (in March) $24,600 $20,300
Overhead applied (March) $12,300 $10,150
Costs during April
Direct materials used $139,000 $226,900 $102,000
Direct labor used $94,200 $161,500 $107,300
Overhead applied $55,600 $77,500 $52,500
($94,200 × 50%) ($161,500 × 50%) ($107,300 × 50%)
Job 306 - $47,100
Job 307 - $80,750
Job 308 - $53,650
The overhead rate applied for Job 306 in April is:
= Direct labor cost x 50%
= 94,200 x 50%
= $47,100
The overhead applied for Job 307 in April is:
= 161,500 x 50%
= $80,750
The overhead for Job 308 in April is:
= 107,300 x 50%
= $53,650
Hence, based on the cost of production by Stam Company, the overhead rate applied to the jobs are calculated above.
The given question is incomplete, the complete question is-
Stam Company shows the following costs for three jobs worked on in April. Job 306 Job 307 Job 308 Balances on March 31 Direct materials (in March) $ 33,600 $ 41,900 Direct labor (in March) 24,600 20,300 Applied overhead (March) 12,300 10,150 Costs during April Direct materials 139,600 226,900 $ 102,300 Direct labor 94,200 161,500 107,300 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Additional Information Raw Materials Inventory has a March 31 balance of $91,500. Raw materials purchases in April are $504,600, and total factory payroll cost in April is $388,300. Actual overhead costs incurred in April are indirect materials, $52,300; indirect labor, $25,300; factory rent, $34,300; factory utilities, $21,300; and factory equipment depreciation, $55,600. Predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $650,000 cash in April.
Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 4. Prepare a schedule of cost of goods manufactured for the month end April 30. Stam Company Schedule of Cost of Goods Manufactured For Month Ended April 30 Total manufacturing costs Total cost of work in process Cost of goods manufactured.
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What is the function of the evaporator?
Answers
Answer:
The evaporation of water is a physical process by which water changes from a liquid state to a gaseous state or water vapor. This process takes place on the surface of the water from a certain temperature and until the space is saturated with steam.
Differentiate foreign investment from the types of aid provided by the UNDP and world bank, citing specific examples of aid from both.
Answers
Foreign investment is in domestic companies and assets in another country and made by foreign investors like your participation (ownership stakes) in firm. The types of aid provided by the World Bank are funding, policy advice and technical assistance to developing country governments.
What are foreign investments and their types?A foreign investment is an investment by a foreign investor in a domestic company or property in another country. Large multinationals will look for new opportunities for economic growth by opening branches and expanding investments in other countries.
Types of Foreign Investment in India: Foreign funds can be invested in equity, real estate, ownership/management, or cooperation. Foreign Direct Investment (FDI) Foreign Portfolio Investment (FPI). Foreign Institutional Investment (FII)
What is an example of foreign investment?A major Australian mining company buys a small Angolan company in order to diversify. Both are examples of foreign direct investment, where the business decision to become involved in some way or to have an interest in a company is made by an investor based outside the border.
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1. What factors contributed to the success of Mavi Jeans?
Answers
Answer:
mavi jeans sold in special store around 50 countries. Those jeans also sold in 280 retail stores . Mavi having a very great "menu" approach by using product mix.
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Which portion of Health Science appeal to you? Could you see yourself in this industry?
Answers
Answer:
Health Science is a diverse field that encompasses various disciplines, including medicine, nursing, public health, biomedical research, and more. As a Health Science student, you may find yourself drawn to specific areas of study based on your interests, skills, and career goals.
For example, if you enjoy working with patients and have a desire to help people, you may be interested in pursuing a career in nursing or medicine. If you have a passion for research and innovation, you may want to consider biomedical research or pharmaceutical development. Alternatively, if you are interested in promoting health and wellness in communities, you may find public health to be an appealing field.
Ultimately, the area of Health Science that appeals to you the most will depend on your personal interests and career aspirations. It is a challenging but rewarding field that requires hard work, dedication, and a lifelong commitment to learning. If you are passionate about making a positive impact on people's lives and improving health outcomes, then Health Science may be the perfect field for you.
Answer:
I do not have personal preferences or desires. However, I can assist in various aspects of Health Science such as providing information about medical conditions, tracking fitness goals, reminding users to take their medication, and connecting users with healthcare professionals. I am planning to be versatile and adaptable to different industries, including the healthcare industry.
Albatross Company purchased a piece of machinery for $60,000 on January 1, 2019, and has been depreciating the machine using the double-declining-balance method based on a five-year estimated useful life and no salvage value. On January 1, 2021, Albatross decided to switch to the straight-line method of depreciation. The salvage value is still zero and the estimated useful life did not change. Ignore income taxes.
Required:
a. What type of accounting change is this, and how should it be handled?
b. Prepare the journal entry to record depreciation for 2017. Show all calculations clearly.
Answers
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d
Answer:
Currently, the income statement for company reflects a total period cost for depreciation of $7,876,000
Common Law is?
A. The basis of the legal system in the United States, England, and most of Western Europe.
B. Based on a commonly accepted principles that are then legislated as laws.
C. A contract between two people or companies.
D. A complete set of laws based on commonly accepted principles that are enacted as a single code.
Answers
Answer:
hope this helps uuuuu.......
Explanation:
D........A complete set...
Inflation, nominal interest rates, and real rates. From 1991 to 2000, the U.S. economy had an annual inflation rate of around %. The historical annual nominal risk-free rate for this same period was around %. Using the approximate nominal interest rate equation and the true nominal interest rate equation, compute the real interest rate for that decade. What is the estimated real interest rate using the approximate nominal interest rate equation for that decade?
Answers
Answer:
the question is incomplete:
nominal interest rate = 5.07%
real interest rate = ?
inflation rate = 3.45%
approximate real interest rate = 5.07% - 3.45% = 1.62%
real interest rate = [(1 + 5.07%) / (1 + 3.45%)] - 1
real interest rate = (1.0507/1.0345) - 1 = 1.57%
1. A Company manufactures and sells one product. The product has the following cost and revenue data:
Selling price Per Unit (AED) 70
Variable cost Per Unit (AED) 30
Total fixed expenses per month are as follows:
Expenses types AED
Advertising 327287
Rent 100,000
Heating 100,000
The company produced and sold 10,000 units during the month and had no beginning or ending inventories.
a. What is the break-even value in Dirhams?
QUESTION 2
1. A Company manufactures and sells one product. The product has the following cost and revenue data
Selling price Per Unit (AED) 88
Variable cost Per Unit (AED) 30
Total fixed expenses per month are as follows:
Expenses types AED
Advertising 372923
Rent 100,000
Heating 100,000
The company produced and sold 10,000 units during the month and had no beginning or ending inventories.
a. How many units would the company have to sell to have a profit of AED 120,000?
QUESTION 3
1. A Company manufactures and sells one product. The product has the following cost and revenue data:
Selling price Per Unit (AED) 116
Variable cost Per Unit (AED) 39
Total fixed expenses per month are as follows:
Expenses types AED
Advertising 200,000
Rent 100,000
Heating 100,000
The company produced and sold 10,000 units during the month and had no beginning or ending inventories.
a. If the sales increase by 200 units, by how much well the net operating income (profit) increase?
Answers
1. In dirhams, the break-even point is roughly 13,182.18.
2. To make a profit of AED 120,000, the company would need to sell about 11,954.93 units.
3. When sales grow by 200 units, the net operating income rises by 8,000 dirhams.
1. a. We must establish the contribution margin per unit in order to calculate the break-even amount in dirhams. The selling price per unit less the variable cost per unit is the contribution margin.
Selling price per unit minus variable cost per unit equals contribution margin per unit.
Unit contribution margin = 70 - 30
Margin of contribution per unit = 40
When the overall contribution margin meets the total fixed expenses, a break-even point is reached. Let's figure out the break-even point:
Total fixed costs divided by contribution margin per unit yields the break-even amount.
Break-even value is equal to (327287 plus 100,000 plus 100,000) / 40.
Break-even value is equal to 527,287/40.
13,182.18 dirhams are needed to break even.s
2. b. Taking into account the contribution margin per unit and fixed expenses, we can determine how many units the company would need to sell to make AED 120,000 in profit.
Profit is equal to (Contribution margin per unit * Units Sold) - Total annual fixed costs
We may find the number of units by rearranging the formula:
(Number of units) = (Profit + Total fixed expenses) / Contribution margin per unit
(Number of units) = (120,000 + 372,923 + 100,000 + 100,000) / (88 - 30)
(Number of units) = 692,923 / 58
(Number of units) = 11,954.93 units
3. c. We must take into account the contribution margin per unit to determine the increase in net operating income (profit) when sales increase by 200 units.
Net operating income growth equals contribution margin per unit * growth in units
Net operating income growth equals 40 times 200.
8,000 dirhams more in net operating income
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Suppose for the year 2015, Speedy Chef, a fast food restaurant, had a Gross Profit of $1,281,648. Speedy Chef had the following expenses:
Cost of Goods Sold $1,251,167
Selling Expense $70,578
Rent Expense $156,941
Utilities Expense $73,994
Insurance Expense $35,148
Wages $505,245
General & Administrative $24,358
Miscellaneous $32,968
Interest Expense $4,059
Income Tax Expense $60,596
What would Speedy Chef's Income Before Taxes be for 2015?
Answers
The Speedy Chef's Income Before Taxes for 2015 is -$873,406.
The following are the operating expenses for Speedy Chef for the year 2015:Cost of Goods Sold $1,251,167Selling Expense $70,578Rent Expense $156,941 Utilities Expense $73,994Insurance Expense $35,148Wages $505,245General & Administrative $24,358Miscellaneous $32,968Interest Expense $4,059Income Tax Expense $60,596.
The formula to determine the Income Before Taxes (IBT) of Speedy Chef for 2015 is given below:Income Before Taxes (IBT) = Gross Profit - Total Operating ExpensesTotal Operating Expenses = Cost of Goods Sold + Selling Expense + Rent Expense + Utilities Expense + Insurance Expense + Wages + General & Administrative + Miscellaneous + Interest Expense + Income Tax Expense.Substitute the given values,Income Before Taxes (IBT) = Gross Profit - Total Operating Expenses = $1,281,648 - $2,155,054 = -$873,406.
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Explain what the category of price elasticity for the following products should be. -petrol -clothes -cars -travel -fillet steak
Answers
Answer:
Explanation:
Price elasticity refers to the degree to which the demand for a good or service changes in response to a change in its price. The elasticity of demand can be classified into several categories, including elastic, inelastic, and unit elastic.
Petrol: Petrol is considered to be an inelastic product. This means that the demand for petrol is relatively unchanged even when the price changes. This is because petrol is a necessity for many people, as it is required for transportation.
Clothes: The elasticity of demand for clothes can vary depending on the type of clothing and the specific market. For example, basic clothing items such as T-shirts and jeans may be more inelastic, as they are considered necessities for many people. On the other hand, luxury clothing items such as designer dresses may be more elastic, as the demand for these items may be more sensitive to price changes.
Cars: The elasticity of demand for cars also varies depending on the specific market. In general, the demand for cars may be more elastic for luxury vehicles, as these tend to be more expensive and people may be more willing to substitute them with cheaper alternatives when the price increases. On the other hand, the demand for basic transportation vehicles may be more inelastic, as they are considered necessities for many people.
Travel: The elasticity of demand for travel may also vary depending on the specific market. For example, the demand for international travel may be more elastic, as people may be more willing to substitute it with domestic travel when the price increases. On the other hand, the demand for domestic travel may be more inelastic, as people may still need to travel for work or other necessities.
Fillet steak: The elasticity of demand for fillet steak may depend on the specific market and the availability of substitutes. In general, the demand for fillet steak may be more elastic for higher-end cuts, as people may be more willing to substitute it with cheaper alternatives when the price increases. On the other hand, the demand for lower-end cuts of meat may be more inelastic, as they are considered necessities for many people.
The category of price elasticity for the following products is
petrol - inelastic goods clothes - elastic goodscars - elastic goodstravel -elastic demandfillet steak - elastic goodWhat is price elasticity?The term "price elasticity of demand" refers to the impact of a modification in the level of market price on the rise or fall in demand for a particular item.
A product's demand is said to be elastic if it is good to meet price changes; otherwise, it is said to be inelastic if the response to a shift in prices is not proportional.
Luxury automobiles are generally more expensive, and consumers may be more likely to replace them with less expensive alternatives, making the demand for cars for these types of cars more elastic.
Due to people's inclination to choose domestic travel over international travel when costs rise, the demand for international travel may be more elastic.
As consumers may be more inclined to switch to less expensive substitutes when the price goes up, the desire for fillet steak may be more flexible for higher-end cuts.
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Speedy's, a fast food facility, offers products at lower prices than its competitors in the market and has a drive-through-only operation with no indoor seating. What strategy is Speedy's using to gain competitive advantage?A. A best-cost provider strategy B. A focused low-cost provider strategy C. A broad differentiation strategy D. A focused differentiation strategy E. A low-cost provider strategy
Answers
Answer:
The correct answer is the option B: A focused low-cost provider strategy.
Explanation:
To begin with, in the field of business and management this type of strategy known as "focused low-cost strategy" has the purpose to lower the cost of a product that is being sell in a niche market where the other competitors can not afford to lower much more the price so that will implicate that the first company who has the ability to do it will gain a competitive advantage. Moreover, the fact that the company has a drive-through-only operation will increase the fact that the consumers will have their food faster and not having to wait in line or lose any time, so all that will implicate that their are currently having an advantage over the competitors.
Suppose your grandmother is retired and receives a monthly Social Security check of $3,000.00. According to the article, how much money will she receive after the cost-of-living increase
Answers
Based on the rate of increase for cost of living, your grandmother would receive the amount of $3,048.
How much would your grandmother receive?The article says that the cost of living increase is 1.6%.
The amount to be received by your grandmother is:
= Monthly social security x ( 1 + increase in cost of living)
= 3,000 x (1 + 1.6%)
= $3,048
In conclusion, your grandmother would receive $3,048.
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Question 7: Which of the following is true about entrepreneurs and risk?
A. Entrepreneurs take more risks than the average person.
B. Risk is an objective assessment.
C. Entrepreneurs who take greater risks tend to be more successful than those who take fewer or smaller risks.
D. Most successful entrepreneurs are very calculated risk takers
Answers
The type of conflict that stimulates employees to work toward greater effort, cooperation, and creativity is ______________ conflict. a. concentrated b. dysfunctional c. destructive d. functional
Answers
The functional conflict is conflict that stimulates employees to work toward greater effort etc
Functional conflict is known as a healthy and constructive disagreement that occurs between employees, groups, individuals etc.
This kind of conflict is beneficial because its stimulates employees to work toward greater effort, cooperation etcTherefore, the Option D is correct.
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Carmen SanDiego, a U.S. citizen, is employed by General Motors Corporation, a U.S. corporation. On April 1, 2020, GM relocated
Carmen to its Brazilian operations for the remainder of 2020. Carmen was paid a salary of $131,000 and was employed on a 5-day-
week basis. As part of her compensation package for moving to Brazil, Carmen also received a housing allowance of $27,750.
Carmen's salary was earned ratably over the 12-month period. During 2020 Carmen worked 260 days, 195 of which were in Brazil and
65 of which were in Michigan.
How much of Carmen's total compensation is treated as foreign source income for 2020? (Do not round intermediate calculations.)
Total foreign source compensation
Answers
The amount of Carmen's total compensation treated as foreign source income for 2020 is $118,687.50
How much of Carmen's total compensation is treated as foreign source of incomeTo determine how much of Carmen's total compensation is treated as foreign source income for 2020, we need to calculate the portion of her salary and housing allowance that was earned while she was working in Brazil.
First, we need to calculate the portion of her salary that was earned in Brazil:
Salary earned in Brazil = (195/260) x $131,000 = $97,875
Next, we need to calculate the portion of her housing allowance that was earned in Brazil:
Housing allowance earned in Brazil = (195/260) x $27,750 = $20,812.50
Therefore, the total foreign source compensation for Carmen in 2020 is:
Total foreign source compensation = Salary earned in Brazil + Housing allowance earned in Brazil
= $97,875 + $20,812.50
= $118,687.50
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Initiative means letting your boss define your tasks.
Answers
Answer:
False
Explanation:
1. the ability to assess and initiate things independently.
2. the power or opportunity to act or take charge before others do
Answer:
F
Explanation:
Ruiz Engineering Contractors incurred service salaries and wages of $37,700 ($27,300 direct and $10,400 indirect) on an engineering project. The company applies overhead at a rate of 27% of direct labor. Record the entries to assign service salaries and wages and to apply overhead. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answers
Explanation:
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24. A Large coca-cola vendor recently hired some economic analysts to assess the effect of a price increase in its 16-ounce bottles from $1.00 to $2.00. The analysts determined that, on average, the vendor’s customers spend about $15.00 on soda (Coke and all other brands) each week, and the average price for other 16-ounce soda bottles is $1.00. The analysts also utilized some focus groups to determine the preferences of the vendor’s customers. They used this analysis to build the following graph: Suppose x0 = 9 and X1 =7. Should the vendor expect to sell 7, more than 7, or less than 7 bottles of coke after raising the price to $2.00 if coke is a normal good?
Answers
As per the effect on the given situation, the vendor should expect to sell less than units of soda if there is a price increase.
Vendor:
Vendor refers the individual or company that sells goods or services to someone else in the economic production chain.
Given,
A Large Coca-Cola vendor recently hired some economic analysts to assess the effect of a price increase in its 16-ounce bottles from $1.00 to $2.00. The analysts determined that, on average, the vendor’s customers spend about $15.00 on soda (Coke and all other brands) each week, and the average price for other 16-ounce soda bottles is $1.00. The analysts also utilized some focus groups to determine the preferences of the vendor’s customers.
Here we need to find the effect of increasing the price on the market.
According to the given question, in this case, the normal goods can be divided into two effects: substitution and income.
Here the substitution effect has a straight association with the consumers.
And it changes cheaper goods when the price of the commodity rises. This effect will always results in the fall in consumption of price-increased goods and the increase in consumption of all the other goods.
Whereas the Income effect is the cause of the decreasing consumption of both goods, and it directly connects with the consumer's income.
This one is also, their consumption of goods will be reliant on their income.
Therefore, if there is a price increase in soda, the final consumption will decrease by applying the substitution and income effect. And also, both effects will fall in the same direction, causing final consumption to be less than units.
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What principle of corporate governance requires companies to operate in ways that respect the social and legal relationships they have with employees and creditors, among others?
A. Interests of other stakeholders
B. Integrity and ethical behavior
C. Integrity and ethical behavior
D. Disclosure and transparency
Answers
Answer:B
Explanation:
In this simulation, theoretical utilization of the intensive care unit (ICU) is calculated as the flow rate of patients that arrive for service at the ICU in a given unit of time divided by the ICU’s capacity to serve customers in that same unit of time. You can think about this as demand/capacity. What is the theoretical utilization of the ICU if the mean inter-arrival time is 4 hour(s), the mean length of stay is 6 hour(s), and there are 4 beds in the ICU?
Answers
Answer:
The theoretical utilization of the ICU is:
= 0.25 or 25%
Explanation:
Inter-arrival time or flow rate of patients that arrive for service at the ICU = 4 hours
Mean length of stay = 6 hours
ICU's capacity to serve customers in 6 hours = 4*6 = 24 bed-hours
Total demand = 6 hours
Therefore, the theoretical utilization = flow rate of patients that arrive for service at the ICU in a given unit of time divided by ICU's capacity to serve customers in that same unit of time
= 6 hours/24 bed-hours
= 0.25
Should internet service providers be required to provide service to all customers and be treated and regulated as monopolies similar to electric companies?
(Give a well thought out answer and ill give brainliest)
Answers
There are several factors to consider but in general, internet service providers be required to provide service to all customers and be treated and regulated as monopolies similar to electric companies.
Why should internet service providers provide service to all customers?Requiring internet service providers (ISPs) to provide service to all customers and regulating them as monopolies similar to electric companies could potentially lead to increased access to reliable and affordable internet for all individuals, regardless of their location or economic status. This could help bridge the digital divide and ensure that everyone has access to essential services and opportunities, such as education, healthcare, and employment.
Some argue however, that the regulation of ISPs as utilities could lead to government overreach and limit the ability of ISPs to innovate and adapt to changing technologies and consumer demands.
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What are the ethical considerations in this case
Answers
Which of the following phrases is an example of structural que ?
Answers
Answer:
excuse me but where is the phrase?
is entrepreneurship another word for human freedom?
Answers
Answer: Not exactly
Explanation:
Entrepreneurship is the attitude of being or traits you need to have as an entrepreneur, which is another word for a business owner.
It's not exactly the same as human freedom.
Visit any nearby business of your locality and collect the information to prepare a project work report by taking the following information. 1)name and address of the firm. 2)find out whether the journal is maintained or not. 3) following the values of debit and credit. 4)the recording of business transactions in the journal
Answers
It is impossible to visit any nearby business of your locality and collect the information to prepare a project work report based on the factors given
What is a firmA common term for a company or business organization is "firm". A business is an organization involved in diverse economic endeavors, ranging from the production of goods, provision of services to trading of products.
A company usually has defined legal framework, ownership, and administration, with the main aim of earning profits or attaining specific goals. Companies can vary in their scale, spanning from petite regional enterprises to enormous global conglomerates.
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Weakness of cardinal and ordinal utility
Answers
Cardinal utility is the utility that is quantified and measured numerically. In contrast, ordinal utility is a type of utility that is non-measurable and only identifies the preference order of the consumer.
The following are some of the limitations or weaknesses of the cardinal and ordinal utility approach:Weaknesses of Cardinal Utility:Cardinal utility has certain limitations, such as the following:It's impossible to determine the precise value of the utility. In cardinal utility, consumer satisfaction or happiness is measured in terms of units. However, it is difficult to assign a precise numerical value to utility because it is subjective and varies from person to person.
It assumes that the consumer is rational and can measure satisfaction. Cardinal utility analysis assumes that consumers are rational and can assign a value to their happiness, which may not be the case in practice. Consumers may have irrational preferences, and their satisfaction may be influenced by various psychological factors, making it difficult to measure or assign a value to it.
The law of diminishing marginal utility may not hold true. The concept of the law of diminishing marginal utility states that as we consume more units of a commodity, the marginal utility decreases, but this may not be the case in practice.
Weaknesses of Ordinal Utility:Ordinal utility has several limitations, including the following:It doesn't account for the intensity of preference. Ordinal utility only assesses the preference order of the goods, not the intensity of preference, which may differ from one consumer to another.It fails to establish the degree of satisfaction.
The ordinal utility approach only identifies the order of preference; it does not provide any information on the degree of satisfaction or happiness obtained from a commodity.There is no numerical value for the utility of a commodity. Ordinal utility cannot assign a numerical value to utility because it is a non-measurable concept.
Therefore, it is difficult to evaluate the level of satisfaction for each commodity, making it difficult to conduct mathematical analysis or quantitative analysis.
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Awanata Jackson, district manager for Starbucks, has earning of $1147 in one week of March. She is single and claims four withholding allowances. Her deductions include FICA, Medicare, federal withholding, state disability insurance, state withholding, a United Way Contribution of $15, and a saving bond of $100. Find her net pay for the week.
Answers
Awanata Jackson's net pay for the week is $735.74.
Find her net pay for the week.We must first figure out her gross pay. In one week in March, she made $1147. We must then compute her deductions. FICA: Social Security contributions are 6.2% of gross pay, or 0.062 times 1147, or $71.17. Medicare costs 1.45% of gross pay, or $16.62 (0.0145 x 1147). Based on withholding tables, the federal withholding amount is $130. State disability insurance: $11.47 ($1% of gross income x 0.01 x 1147) State withholding: $68 according to the withholding tables Contribution to United Way: $15, $100 in savings bonds, Deductions total $411.26. By deducting all of the deductions from Awanata Jackson's gross pay, we can finally determine her net pay: Net pay is calculated as Gross pay less all deductions, or $1147 minus $411.26, or $735.74. Therefore, Awanata Jackson's net pay for the week is $735.74.
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You are the chief information officer (CIO) of your company. Write a post that details a scenario in which you would choose to conduct an information systems (IS) audit for your company. Be sure to explain how the different IS departments would be affected by this audit.
Answers
Answer:
1 Agree on goals. Include all stakeholders in discussions of what should be achieved with the audit.
2 Define the scope of the audit.
3 Conduct the audit and identify threats.
4 Evaluate security and risks.
5 Determine the needed controls.
Explanation:
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The data that organization has an abundance of is vulnerable to various cyber threats, and because even a minor misuse of data can result in significant client loss.
What is cyber threats?Any circumstance or event that has the potential to harm organizational operations, assets, individuals, other organizations.
The Nation via a system through unauthorized access, destruction, disclosure, modification of information, and denial of service.
some kinds of cyber threats are Malware, Ransomware, Distributed denial of service attacks, Spam and Phishing, Corporate Account, Takeover and Automated Teller Machine.
Thus, the data that company has many cyber threats, due to misuse of the data can be faced by the person.
For further details about the cyber threats, click here:
https://brainly.com/question/15118614
Write about a business management theory that you identify with, incorporating real-life examples in your answer.
- Word length requirement is between 200 and 500 words
Answers
A business theory that I identify with is the concept of transformational leadership. This approach emphasizes the import of leaders inspiring and motivating their teams to achieve common goals, as against just giving orders and directives.
What real life event is depicted with this theory?Transformational Leadership can be seen in the success of Apple Inc. under the leadership of Steve Jobs and the turnaround of Ford Motor Company under Alan Mulally.
In both examples, the leaders were able to create a shared vision for the organization and inspire their teams to work towards that vision.
Overall, the concept of Transformational Leadership is a powerful one that can assist firms or organizations to achieve extraordinary successes. By inspiring and motivating their teams, leaders can create a shared vision for the organization and taming everyone's efforts towards achieving that vision. This can lead to increased engagement, high productivity, and greatest of all, success.
learn more about Transformational Leadership: https://brainly.com/question/14531259
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