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NikAS [45]
2 years ago
9

Business behavior determines the ethics of society.We can improve society's moral and ethical behavior by first making a commitm

ent to improving business's moral and ethical behaviour
Business
1 answer:
valkas [14]2 years ago
7 0

Answer: The correct answer is False.

Explanation:

Business behavior will not determine the ethics of society. Businesses can't be responsible to change the moral and ethical behaviors of a single person or an entire world. Only a person can change their own behavior. A society in whole can only be changed by each person acting upon their own free will.

If a business is not ethical, then they need to change the way they work and do business and lead by example.

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How much taxes they take off
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3 years ago
The market used to calculate the CPI is 3 units of pork and 4 unit of corn. In 2005, pork cost $20 per pound and corn cost $12 p
Ede4ka [16]

Answer:

<em>The answer will be 136.11 </em>

Explanation:

Because since the cost of the basket in 2005 is = (3x20) + (4 x 12) = 108; And the cost of basket in 2006 is = (3x25) + (4 x 18) = 147

To calculate the CPI,

  • <em>Put a sampling of product prices from a previous year. </em>
  • <em>Then, put the current prices of the same items together. </em>
  • <em>Divide the current total prices by the old prices and then subtract the sum by 100.</em>

The Consumer Price Index (CPI) for 2006 = <em>(147/108) x 100 = 136.11</em>

7 0
3 years ago
On January 1, 2020, Echo Company issued $550,000, 16 year, 9%, annual, callable bonds for $475,000. On December 31, 2025, Echo C
Gnom [1K]

Answer:

1. Prepare the Journal Entry to record the Issuance of the Bond

January 1, 2020, bonds issued at a discount

Dr Cash 475,000

Dr Discount on bonds payable 75,000

    Cr Bonds payable 550,000

2. Determine the amount of the Discount/Premium that is still not amortized (using the Straight-Line Method)

total bond life = 16 years, 5 years have passed

amortization of bond discount per coupon payment = $75,000 / 16 = $4,687.50

so $51,562.50 have not been amortized yet

3. Prepare the Journal Entry to record the Retirement (Redemption) of the Bond.

Before being able to redeem the bonds, the remaining discount must be amortized:

December 31, 2025, amortization of bond discount

Dr Interest expense 51,562.50

    Cr Discount on bonds payable 51,562.50

the journal entry to record the redemption of the bonds

December 31, 2025, bonds redeemed at a loss

Dr Bonds payable 550,000

Dr Loss on retirement of debt 11,000

    Cr Cash 561,000

7 0
3 years ago
Is rental income<br> A. Cash<br> B. Investment
maks197457 [2]

Answer:

Investment, you buy a property to rent in hope to make your money back over time.

Explanation:

3 0
2 years ago
Horace Company manufactures a professional-grade vacuum cleaner and began operations in 2020. For 2020, Horace budgeted to produ
Paladinen [302]

Answer:

Horace Company

1. 2020 Income Statement using variable costing

Sales revenue                      $7,992,000

Variable Cost of goods sold:

Manufacturing costs            $2,183,000

Marketing cost per unit sold  $851,000

Contribution margin           $4,958,000

Fixed Costs:

Manufacturing costs $1,550,000

Administrative costs   $906,000

Marketing costs        $1,479,000

Total fixed costs =            $3,935,000

Net income =                     $1,023,000

2. 2020 Income Statement using absorption costing:

2. Sales revenue                      $7,992,000

Cost of goods sold:

Variable Manufacturing costs $2,478,000 ($118 * 21,000)

Fixed Manufacturing costs        1,550,000

Total cost of production         $4,028,000

Less Ending Inventory                 479,525

Cost of goods sold                 $3,548,475

Gross profit                            $4,443,525

Period costs:

Variable marketing costs $851,000

Fixed marketing costs     1,479,000

Administrative costs         906,000

Total period costs                $3,236,000

Net income                           $1,207,525

3. The differences that Horace obtains in the operating incomes under variable costing and absorption costing are due to the fixed manufacturing costs that are included in the ending inventory under absorption costing, making the cost of goods sold to be less and resulting in more profits. Under variable costing, the ending inventory does not include the fixed manufacturing costs.  So the cost of goods sold is higher, resulting in reduced profits.

4. A bonus for Horace's supervisors based on gross margin under absorption costing will entice supervisors to produce more and  sell less products so that the fixed costs can be carried forward.  Many products will be left in inventory at the end of the period, which is then carried forward to the following period, thus, enhancing the period's gross profit for maximum bonus for the supervisors.

Modifications that Horace management could make to improve the bonus plan is ensuring that production units do not exceed the budgeted sales units by a large margin and ensuring that ending inventory does not exceed an established limit.  This will entice the supervisors to produce according to market demand.

Explanation:

a) Data and Calculations:

Budgeted production and sales units for 2020 = 25,000

Actual production units for 2020 = 21,000

Actual sales unit for 2020 = 18,500

Ending inventory units for 2020 = 2,500

Selling price per unit = $432

Sales revenue = $7,992,000 ($432 * 18,500)

Variable cost:

Manufacturing cost per unit produced:

Direct materials                        $33

Direct manufacturing labor     $23

Manufacturing Overhead       $62 $118

Marketing cost per unit sold  $46

Total variable costs per unit $164

Fixed cost:

Manufacturing costs $1,550,000

Administrative costs   $906,000

Marketing costs        $1,479,000

Total fixed costs =   $3,935,000

1. 2020 Income Statement using variable costing

Sales revenue                      $7,992,000 ($432 * 18,500)

Variable Cost of goods sold:

Manufacturing costs            $2,183,000 ($118 * 18,500)

Marketing cost per unit sold  $851,000 ($46 * 18,500)

Contribution margin           $4,958,000 ($268 * 18,500)

Fixed Costs:

Manufacturing costs $1,550,000

Administrative costs   $906,000

Marketing costs        $1,479,000

Total fixed costs =            $3,935,000

Net income =                     $1,023,000

2. Sales revenue                      $7,992,000

Cost of goods sold:

Variable Manufacturing costs $2,478,000 ($118 * 21,000)

Fixed Manufacturing costs        1,550,000

Total cost of production         $4,028,000 (per unit = $191.81)

Less Ending Inventory                 479,525 ($191.81 * 2,500)

Cost of goods sold                 $3,548,475

Gross profit                            $4,443,525

Period costs:

Variable marketing costs $851,000

Fixed marketing costs     1,479,000

Administrative costs         906,000

Total period costs                $3,236,000

Net income                           $1,207,525

7 0
3 years ago
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