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Solnce55 [7]
2 years ago
13

On January 10, 2017, a man in Lebanon, Virginia, frustrated with the DMV bureaucracy, paid his DMV bill with 300,000 pennies tha

t he carted into the DMV office in five wheelbarrows. The DMV had to count all these pennies and deposit them into the DMV bank account. After the DMV deposit and assuming a reserve requirement of 7 percent, calculate the initial change in
Business
1 answer:
4vir4ik [10]2 years ago
3 0

Answer:

the requirements are missing, so I looked for them:

  • a. Money supply.
  • b. Deposits.
  • c. Total reserves.
  • d. Excess reserves.

a. $0

the coins are part of M1 money supply already, so it will not change it.

b. $3,000.

the DMV should deposit the pennies in their account account, therefore, total bank deposits will increase by 300,000¢ /100 = $3,000

c. $3,000

since bank deposits increase by $3,000, total reserves also increase by $3,000

d. $2,790

excess reserves = total reserves - required reserve ratio = $3,000 - ($3,000 x 7%) = $2,790

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A man budgeted $200 a month for clothing. This month the man spent $150 on clothing therefore that budget item is considered to
shutvik [7]

The budget item spent on clothing  is considered to have a budget variance.

<h3>What is budget variance?</h3>

A budget variance is the difference between the budgeted expense or revenue, and the actual amount.

The budget variance is favorable when the actual revenue is higher than the budget or when the actual expense is less than the budget.

Hence, the budget item is considered to have a budget variance.

Learn more about budget variance here : brainly.com/question/13287252

#SPJ1    

8 0
2 years ago
Classify each cost as being either variable or fixed with respect to the number of units produced and sold.
charle [14.2K]

Answer:

Explanation:

There are primarily two types of costs, i.e. variable costs and the fixed costs. The variable cost is the cost that varies when the level of output changes, while the fixed cost is the cost that remains constant whether the level of production changes or not. The variable cost includes indirect inventory, indirect labor and factory supplies.

And, the fixed cost includes supervision, taxes ,and depreciation expense.

As we know that, the product cost would be a mix of Direct materials cost +  Direct labor cost + manufacturing overhead cost

where,

Manufacturing overhead = Factory utilities + Factory machinery depreciation + Factory building property tax + Indirect factory work + Indirect materials + Factory repairs + Factory manager salary

And, the selling and administrative cost is the cost which is incurred for selling the product. example - advertising, etc

So, the categorization is shown below:

1. Hamburger buns in a Wendy's outlet. = Variable and product cost

2. Advertising by a dental office.  =  Fixed and Selling and Administrative cost

3. Apples processed and canned by Del Monte.  = Variable and product cost

4. Shipping canned apples from a Del Monte plant to customers.  = variable and Selling and Administrative cost

5. Insurance on a Bausch & Lomb factory producing contact lenses.  = fixed and product cost

6. Insurance on IBM's corporate headquarters.  = fixed and Selling and Administrative cost

7. Salary of a supervisor overseeing production of printers at Hewlett-Packard.  = fixed and product cost

8. Commissions paid to automobile salespersons.  = variable and Selling and Administrative cost

9. Depreciation of factory lunchroom facilities at a General Electric plant.  = fixed and product cost

10. Steering wheels installed in BMWs. = variable and product cost

7 0
2 years ago
a 2-year treasury security currently earns 6.75 percent. over the next two years,the real interest rate is expected to be 3.18 p
Anna35 [415]

The maturity risk premium on the 2-year Treasury security is C. 1.39%

Using this formula

rd = r* + IP + MRP

Where

rd represent Required rate of return on 2-year Treasury Security = 6 75%

r* represent real risk free return = 3.18%

IP represent Inflation Premium = 2.18%

MRP represent Maturity Risk Premium

Let plug in the formula

6.75% = 3.18% + 2.18% + MPR

6.75%=5.36%

MRP=6.75% -5.36%

MRP = 1.39%

Inconclusion the maturity risk premium on the 2-year Treasury security is C. 1.39%.

Learn more here:

brainly.com/question/15314847

3 0
1 year ago
What is a rental inventory and why is it a good idea to have one?
bearhunter [10]

A rental inventory is basically like people rent you things. Cars, and lots of stuff. its a good idea to have a rental inventory because you can rent people things in a business.

3 0
2 years ago
Southern Rim Parts estimates its manufacturing overhead to be $495,000 and its direct labor costs to be $900,000 for year 1. The
Zarrin [17]

Answer:

Job 301    $   11,000

Job 302   $  16,500

Job 303   $ 22,000

Explanation:

\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate

To calculate the overhead rate <u>we divide the estimated overhead cost by the estimated cost driver:</u>

\frac{495,000}{900,000}= Overhead \:Rate

0.55 overhead rate

Job 301 $20,000 labor cost x 0.55 overhead rate

11,000

Job 302 $30,000 labor cost x 0.55 overhead rate

16,500

Job 303 $40,000 labor cost x 0.55 overhead rate

22,000

8 0
3 years ago
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