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ohaa [14]
3 years ago
12

Desmond told his two friends, Marley and Brianna, that he was awarded a $10,000 grant for college if he becomes a math or scienc

e teacher. Desmond wants to teach physics.
Marley told him he should take the grant. Brianna told him not to take the grant. Which statement about their advice is true?

A. Marley is correct because a grant is like a gift and he can still get scholarships or loans to pay for the rest of his expenses.
B. Marley is correct because he can take the grant and then study whatever he chooses without paying it back if he changes his mind about his career.
C. Brianna is correct because he cannot get scholarships if he takes the grant and scholarships would pay more of his education costs.
D. Brianna is correct because grants are like loans and must be paid back. He should wait and see what scholarships and work-study programs he qualifies for.
Business
2 answers:
olga55 [171]3 years ago
6 0
<span>A. Marley is correct because a grant is like a gift and he can still get scholarships or loans to pay for the rest of his expenses.
        There are three major ways of obtaining money to pay for advanced education. Loans, grants, and scholarships. As the name implies, a loan is the borrowing of money with the expectation that the loaned money will be paid back at a later date with accumulated interest. Grants are what you can consider to be a "gift with an obligation" where if you fail to uphold the obligation, the grant gets converted into a loan that you need to pay off. And finally, scholarships are straight out gifts that you don't need to pay back. So the grant offer to Desmond is for his becoming a math or science teacher for a some period of time. Since he wants to teach physics, this grant would be ideal for him. So let's look at the options and see what does and does not make sense. A. Marley is correct because a grant is like a gift and he can still get scholarships or loans to pay for the rest of his expenses. * This is exactly correct and therefore the correct answer. B. Marley is correct because he can take the grant and then study whatever he chooses without paying it back if he changes his mind about his career. * NO. If Desmond decides to not become a math or physic teacher, the grant suddenly converts into a loan that must be paid off. C. Brianna is correct because he cannot get scholarships if he takes the grant and scholarships would pay more of his education costs. * The acceptance of a grant doesn't prohibit getting scholarships. So this choice is false and therefore wrong. D. Brianna is correct because grants are like loans and must be paid back. He should wait and see what scholarships and work-study programs he qualifies for. * Grants don't need to be paid back if the receiver honors their service commitment. So this choice is also false and therefore wrong.</span>
sergiy2304 [10]3 years ago
5 0

Answer:

a. Marley is correct because a grant is like a gift and he can still get scholarships or loans to pay for the rest of his expenses.

Explanation:

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Winslow Inc. manufactures and sells three types of shoes. The income statements prepared under the absorption costing method for
stellarik [79]

Answer:

Winslow Inc.

a. No. I do not agree with management's decision and conclusions.  Eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

b. Variable Costing Income Statements:

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000    $635,000  $2,185,000

3 Variable costs:

Cost of goods sold             284,500       248,400      298,500       831,400

Selling and administrative  293,100        175,500       216,000      684,600                      

Total                                    577,600       423,900       514,500    1,516,000

4 Gross profit                   $272,400     $276,100     $120,500   $669,000

5 Fixed costs:

Cost of goods sold             128,500         90,300       120,500      339,300

Selling & administrative      95,900          82,400       143,500       321,800

Total                                   224,400        172,700      264,000        661,100

6 Income (Loss) from       $48,000      $103,400    $(143,500)       $7,900

c. Eliminating the line only eliminated the variable costs of goods sold and selling and administrative expenses.  The fixed costs were not changed with the elimination.  Therefore, eliminating the running shoes line increased the company-wide loss to $112,600 from a profit of $7,900.

Explanation:

a) Data and Calculations:

Winslow Inc.

Product Income Statements—Absorption Costing

For the Year Ended December 31, 20Y1

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000      $635,000

3 Cost of goods sold           413,000       338,700         419,000

4 Gross profit                    $437,000     $361,300       $216,000

5 Selling & administrative

 expenses                         389,000       257,900         359,500

6 Income (Loss) from        $48,000      $103,400      $(143,500)

1                                   Cross Training  Golf Shoes  Running Shoes  Total

2 Revenues                      $850,000     $700,000    $635,000  $2,185,000

3 Variable costs:

Cost of goods sold             284,500       248,400      298,500       831,400

Selling and administrative  293,100        175,500       216,000      684,600                      

Total                                    577,600       423,900       514,500    1,516,000

4 Gross profit                   $272,400     $276,100     $120,500   $669,000

5 Fixed costs:

Cost of goods sold             128,500         90,300       120,500      339,300

Selling & administrative      95,900          82,400       143,500       321,800

Total                                   224,400        172,700      264,000        661,100

6 Income (Loss) from       $48,000      $103,400    $(143,500)       $7,900

Eliminating the running shoe line:

1                                   Cross Training  Golf Shoes          Total

2 Revenues                      $850,000     $700,000      $1,550,000

3 Cost of goods sold:

Variable costs                     284,500       248,400          532,900

Fixed costs                          128,500         90,300           339,300

Total                                     413,000       338,700           872,200

4 Gross profit                   $437,000      $361,300        $677,800

5 Selling & administrative  expenses:

Variable costs                    293,100         175,500         468,600

Fixed costs                          95,900          82,400          321,800

Total                                  389,000        257,900         790,400

6 Income (Loss) from       $48,000      $103,400       ($112,600)

3 0
2 years ago
Which of the following strategies is represented by McDonald’s experimenting with their traditional menu, as well as changing th
Harman [31]

Answer:

In the United States. McDonald’s spends the biggest slice of their budget. The company does many new product trials and innovation in its home country, where it has the biggest audience. The company’s advertising is typically skewed to children in the United States, where McDonald’s produces about 250 ads annually.

In Japan. The company’s ad campaigns are widely different. The Japanese ads are focused on adults as well as children, with some features that are unique to the locale’s culture.

6 0
2 years ago
Yarin's gross pay for the year was $3,500. The federal income tax withholding from his pay was 9% of his gross pay. Yarin determ
kakasveta [241]

Answer:

$200

Explanation:

5 0
3 years ago
What is the Investment in Mopsy Co. balance as of December 31, 2020, if the equity method has been applied
jeka57 [31]

Answer:

$1,609,000

Explanation:

Calculation to determine the Investment in Mopsy Co. balance as of December 31, 2020, if the equity method has been applied

First step is to calculate the Unrecorded Patents Amortization

Unrecorded Patents Amortization

=$1,400,000-[($6,400,000 - $3,000,000)×30%] /10 years

Unrecorded Patents Amortization

=$1,400,000- ($3,400,000 × 30%)/10 years

Unrecorded Patents Amortization

=$1,400,000 - $1,020,000/10 years

Unrecorded Patents Amortization = $380,000 / 10 years

Unrecorded Patents Amortization= $38,000

Now let determine the Investment

Investment=$1,400,000 + $180,000 + $225,000 - $60,000 - $60,000 - $38,000 - $38,000

Investment= $1,609,000

Therefore the Investment in Mopsy Co. balance as of December 31, 2020, if the equity method has been applied is $1,609,000

8 0
3 years ago
Omega Custom Cabinets produces and sells custom bathroom vanities. Assume that labor is the only input that varies for the firm.
Papessa [141]

Answer:

The answer is option a). For the 11th worker, the marginal profit is $600.

Explanation:

<em>Step 1: Determine the initial profit for the 10 workers as shown;</em>

initial profit=revenue from sales-cost of labor

where;

revenue from sales=sale per unit×number of units

revenue from sales=800×20=$16,000

cost of labor=cost per unit×number of workers

cost of labor=1,000×10=$10,000

replacing;

initial profit=16,000-10,000=$6,000

<em>Step 2: Determine the final profit for the 10 workers as shown;</em>

final profit=revenue from sales-cost of labor

where;

revenue from sales=sale per unit×number of units

revenue from sales=800×22=$17,600

cost of labor=cost per unit×number of workers

cost of labor=1,000×11=$11,000

replacing;

final profit=17,600-11,000=$6,600

<em>Step 3: Determine the marginal profit as shown;</em>

marginal profit=final profit-initial profit

where;

final profit=$6,600

initial profit=$6,000

replacing;

marginal profit=6,600-6,000=$600

The marginal profit for the 11th worker=$600

5 0
3 years ago
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