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lina2011 [118]
3 years ago
6

In order to raise revenue in the city of Hamlet, the city considered assessing a local tax on food served in restaurants. When f

orecasting the amount of revenue that would be generated by the new tax, the budget officials suggested that about 10% of current customers would likely quit eating out in Hamlet and drive to the nearest town. This is an example of
Business
1 answer:
Rasek [7]3 years ago
6 0

Answer:

Dynamic forecasting

Explanation:

Dynamic forecasting occurs when present forecast is made based on previous forecasts on the value of dependent variable.

On the other hand static forecasting is when actual previous vales to make present forecast.

Budget officials suggested that about 10% of current customers would likely quit eating out in Hamlet and drive to the nearest town

So a forecast is made on previous forecast.

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Question 6 Paige Company estimates that unit sales will be 11,100 in quarter 1, 12,300 in quarter 2, 14,500 in quarter 3, and 18
sveticcg [70]

Answer:

$18,250

Explanation:

Preparation of a production budget by quarters for the first 6 months of 2020.

Paige Company

Production Budget For the six months ended December 31, 2020

Expected unit sales 11,100 12,300

Add: Desired ending finished goods

2,706 2,706

(22%*$12,300)

Total required units 13,806 15,006

(11,100+2,706) (12,300+2,706)

Less: Beginning finished goods inventory

2,442 2,706

(22%*11,100) (22%*12,300)

Required production units 8,656 9,594

(11,100-2,442) (12,300+2,706)

Six Months: $18,250

(8,656 +9,594)

Therefore the production budget by quarters for the first 6 months of 2020 will be $18,250

5 0
3 years ago
Gonzo Co. owns a building in Georgia. The building’s historical cost is $970,000, and $440,000 of accumulated depreciation has
ladessa [460]

Answer:

1. The cost to be capitalized to building account is $343,600

2. The subsequent carrying amount of the building is $873,600

Explanation:

1. In order to calculate the which of the costs incurred by Gonzo Co. should be capitalized to the building account we would have to use the following formula:

cost to be capitalize=Major improvement to the plumbing+Added a loby

cost to be capitalize=$109,000+$234,600

cost to be capitalize=$343,600

The cost to be capitalized to building account is $343,600

2. To calculate the subsequent carrying amount of the building we have to use the following formula:

subsequent carrying amount=Historical cost+improvements-Accumulated Depreciation

subsequent carrying amount=$970,000+$343,600-$440,000

subsequent carrying amount=$873,600

The subsequent carrying amount of the building is $873,600

5 0
3 years ago
The original price of a television is $500 you have a coupon for 25% off excluding tax what is the cost of the tv
ch4aika [34]
Original price = $500

Assume that the tax rate is 8%
Cost of the TV plus tax = 500*1.08 = $540
Worth of the 25% coupon = 0.25*540 = $135
Reduced price = 540 - 135 = $405

The cost of the TV with a coupon for 25% off excluding tax is $405.

Answer: $405

6 0
3 years ago
On the summer solstice in june, the sun will be directly above ____________ and all locations north of ___________ will experien
svetlana [45]
<span>The summer solstice is the day of the year when the sun is the farthest north, over the Tropic of Cancer, 23.44 degrees (or 23 degrees 26 minutes) north of the equator. On that day, all locations north of the Arctic Circle experience 24 hours of daylight.</span>
3 0
3 years ago
True or false? one of the most common reasons for stopping an exercise training program is injury.
Mama L [17]
Truth cause it may do to doing the activity wrong..or body ain’t conditioned right for it
3 0
3 years ago
Read 2 more answers
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