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4 years ago

What was the final straw that uncovered the Madoff Ponzi scheme?

Business

1 answer:

hoa [83]4 years ago

3 0

Answer:

Madoff's alleged affair was Ruth's "final straw" Learning of an alleged affair Bernard Madoff, had in the 1990s gave Ruth Madoff "the spine" to cut all ties with her Ponzi-scheming husband, a New York Times journalist reporting on the family said on "The Early Show."

Explanation:

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Rickett Corporation had a favorable direct-labor efficiency variance of $6,000 for the period just ended. The actual wage rate w

EastWind [94]

Answer:

Actual Quantity= 9,000 hours

Explanation:

Giving the following information:

Direct-labor efficiency variance= $6,000 favorable

Standard rate= $12.00.

Standard quantity= 9,500

To calculate the actual hours worked, we need to use the following formula.

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

6,000 = (9,500 - Actual Quantity)*12

6,000= 114,000 - 12Actual Quantity

12Actual Quantity = 108,000

Actual Quantity= 9,000 hours

7 0

3 years ago

You invest a single amount of $10,000 for 5 years at 10 percent. At the end of 5 years you take the proceeds and invest them for

FinnZ [79.3K]

Answer:

$86,166.31

Explanation:

We use future value (FV) formula as follows:

Step 1: Calculation of amount to have after five years:

Five years FV = $10,000 × (1 + 0.1)^5

= $10,000 × (1.01)^5

= $10,000 × 1.61051

Five years FV = $16,105.10

Therefore, $16,105.10 will be realized after five years.

Step 2: Calculation of amount to have after twelve years:

Twelve years FV = $16,105.10 × (1 + 0.15)^12

= $16,105.10 × (1.15)^12

= $16,105.10 × 5.35025010547371

Twelve years FV = $86,166.31

Therefore, you will have $86,166.31 after 17 years.

4 0

3 years ago

Financial statement data for the years ended December 31 for Dovetail Corporation follows:2016 2015Net income $448,750 $376,000

Mandarinka [93]

Answer:

The earnings per share for 2016 are $5.45 per share while the earnings per share for 2015 were $5.60 per share.

The earnings per share has fallen in 2016 as compared to 2015, thus there is an unfavorable trend.

Explanation:

Earning per share (EPS) is the amount of net income allocable to each share of common stock outstanding. It is a useful measure for investors as it tells them how much $ return a business in earning on every share of common stock. The earnings per share is calculated as follows,

Earnings per share = (Net Income - Preferred dividends) / Weighted average shares on common stock outstanding

The earnings per share for Dovetail is

2015 EPS = (376000 - 40000) / 60000 = $5.60 per share

2016 EPS = (448750 - 40000) 75000 = $5.45 per share

4 0

4 years ago

Sleep Tight manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials w

Nezavi [6.7K]

Answer:

Opening finished goods Inventory $36,000

Add Cost of Goods Manufactured $944,000

Less Closing finished goods Inventory ($42,000)

Cost of Goods Sold $938,000

Explanation:

Step 1 Calculate Raw Material Costs requisitioned for manufacturing.

Materials Requisites = Opening Raw Materials Inventory + Purchases of Raw Materials - Closing Stock of Raw Materials

= $36,000+$580,000-$19,000

= $ 597,000

Step 2 Calculate Cost of Goods Manufactured

Raw Materials $597,000

Direct labor $202,000

Factory overhead $144,000

Add Opening work in process Inventory $34,000

Less Closing work in process Inventory ($33,000)

Cost of Goods Manufactured $944,000

Step 3 Calculate the Cost of Goods Sold

Opening finished goods Inventory $36,000

Add Cost of Goods Manufactured $944,000

Less Closing finished goods Inventory ($42,000)

Cost of Goods Sold $938,000

6 0

4 years ago

Read 2 more answers

What is a branch of economics that typically deals with how prices are determined in markets and how markets adjust to a variety

tekilochka [14]

Answer:

Microeconomics

Explanation:

Microeconomics relates to the interaction of a single market with different markets, and that such individual market tends to determine the price of a commodity in relation and interaction with different markets.

Here, in microeconomics we analyse and study the choices of an individual using various scarce resources for completing production, consumption and exchange.

Thus, correct answer is -

Microeconomics

6 0

4 years ago