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Business

You're an entrepreneur and had a great idea to sell shoes that have springs installed in them to make walking easier. However, the development costs were so high that the shoes are priced 15 times higher than shoes without springs. As a result, many of the shoes have gone unsold. What possible event could eliminate the disequilibrium in the market for shoes?

A. A study reveals that shoes with a spring can increase the chance of a broken leg.

B. There is an increase in income and "spring shoes" are a normal good.

C. There is an increase in income and "spring shoes" are an inferior good.

D. There is a decrease in the price of rubber, which is an input in the production of shoes.

B. There is an increase in income and "spring shoes" are a normal good.

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Madilynn Maxwell

Business

Whether a buyer or a seller pays more of a commodity tax depends on:

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Business

A female client presents to the emergency department with acutely deteriorating asthma. Her husband tells the nurse that his wife takes salmeterol. He then tells the nurse that he gave her three extra puffs when she became ill. What statement is correct in this situation?

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Business

Assume that we are back to talking about bags of oranges (a private good), but that the government has decided that tossed orange peels impose a negative externality on the public that must be rectified by imposing a $8-per-bag tax on sellers. What is the new equilibrium price

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Business

Exercise 19-13 Variable cost analysis for a special order LO A1 Grand Garden is a luxury hotel with 160 suites. Its regular suite rate is $210 per night per suite. The hotel's cost per night is $135 per suite and consists of the following. Variable direct labor and materials cost $ 36 Fixed cost [ ($5,770,000/160 suites) : 365 days] 99 Total cost per night per suite $ 135 The hotel manager received an offer to hold the local Bikers' Club annual meeting at the hotel in March, which is the hotel's low season with an occupancy rate of under 55%. The Bikers' Club would reserve 45 suites for three nights if the hotel could offer a 55% discount, or a rate of $94 per night. The hotel manager is inclined to reject the offer because the cost per suite per night is $135. Required: Prepare an analysis of this offer for the hotel manager.

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Sidney Montgomery

Business

Under the lower-of-cost-or-market method, the replacement cost of an inventory item would be used as the designated market value:a. when it is below the net realizable value less the normal profit margin. b. when it is below the net realizable value and above the net realizable value less the normal profit margin. c. when it is above the net realizable value. d. regardless of net realizable value.

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Alfred Blackburn

Business

ISEN management is NOT happy with 75% customer service because it has a corporate goal of 90%. So this aspect of performance is not good. However, perhaps the reason for this is that overzealous salespersons are promising unrealistic due dates to customers. It may not be any indication of problems with the line. What do you think?

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Business

High and unexpected inflation has a greater cost. True or False

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Business

What is the global marketplace?

A-All the customers for a product or service in all areas of the world

B-Certain traditions of a culture that impact shopping habits

C-Every shopping center in the world

D-Part of the world's population that has access to grocery stores

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Business

A sales manager has weekends off and has 20 paid vacation days per year, including holidays that fall on weekdays. If her salary is $93,600 per year, what is her pay per workday?

A. $345

B. $350

C. $390

D. $325

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Business

Use the PACED decision-making process to make the decision for Brent. Show your work.

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Business

Tom Anderson, the produce manager at the Thriftway Market in Pasco, Washington, removed a box of bananas from the top of a stack of produce. When he reached for a lug of radishes that had been under the bananas, a six-inch spider-Heteropoda venatoria, commonly called a banana spider-leaped from some wet burlap onto his left hand and bit him. Nine months later he died of heart failure. His wife brought an action against Associated Grocers, parent company of Thriftway Market, on theories of (1) strict products liability under Restatement, Section 402 (a); (2) breach of the implied warranty of merchantability; and (3) negligence. The trial court ruled against the plaintiff on all three theories. Was that a correct ruling? Explain.

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Business

It costs Garrison Company $9.50 of variable and $5.20 of fixed costs to produce one bathroom scale which normally sells for $19.70. A foreign wholesaler offers to purchase 2,600 scales at $12.20 each. Garrison will incur special shipping costs of $1.70 per scale if the order is accepted. Garrison has sufficient unused capacity to accommodate the order. If the special order is accepted, what will be the effect on net income?

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Business

The selling price of a television is $1,000 and the cost to the retailer is $725. what is the retailer's gross profit from the sale of the television?

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Business

On March 31, 2018, Chow Brothers, Inc., bought 10% of KT Manufacturing's capital stock for $50 million. KT's net income for the year ended December 31, 2018, was $80 million. The fair value of the shares held by Chow was $35 million at December 31, 2018. KT did not declare or pay a dividend during 2018. Required: 1. Prepare all appropriate journal entries related to the investment during 2018. 2. Assume that Chow sold the stock on January 20, 2019 for $30 million. Prepare the journal entries to record the sale.

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