MonetteMonette

Corporation has found that

6060?%

of its sales in any given month are credit? sales, while the remainder are cash sales. Of the credit? sales,

MonetteMonette

Corporation has experienced the following collection? pattern:

November sales for last year were

$ 85 comma 000$85,000?,

while December sales were

$ 115 comma 000$115,000.

Projected sales for the next three months are as? follows:

Requirement

Prepare a cash collections budget for the first? quarter, with a column for each month and for the quarter. ?(Round your answers to the nearest whole? dollar.)

Enter any number in the edit fields and then click Check Answer.

Cost of Goods Manufactured, using Variable Costing and Absorption Costing

On March 31, the end of the first year of operations, Barnard Inc., manufactured 3,700 units and sold 3,200 units. The following income statement was prepared, based on the variable costing concept:

Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept.

Cost of Goods Manufactured, using Variable Costing and Absorption Costing

On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 2,400 units and sold 2,100 units. The following income statement was prepared, based on the variable costing concept:

Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept.

Adam Smith is often called the father of economics. His famous book, The Wealth of Nations, talks about an “invisible hand” that automatically allocates goods to the persons best able to put them to good use. The invisible hand operates through the price mechanism for goods and services, so that individuals who trade on the market, while seeking only their own good, actually allocate society’s resources efficiently.

Applied to modern capital markets, his ideas would imply that these markets would efficiently allocate investment capital to the firms that would use them most efficiently in producing goods and services for society—but only if they were left to operate without state intervention.

What benefits would be created if modern governments reduced financial regulations substantially in accordance with Smith’s thinking? From an ethical perspective, what societal costs might be created?

         Adam Smith is often called the father of economics. His famous book, The Wealth of Nations, talks about an “invisible hand” that automatically allocates goods to the persons best able to put them to good use. The invisible hand operates through the price mechanism for goods and services, so that individuals who trade on the market, while seeking only their own good, actually allocate society’s resources efficiently.

Applied to modern capital markets, his ideas would imply that these markets would efficiently allocate investment capital to the firms that would use them most efficiently in producing goods and services for society—but only if they were left to operate without state intervention.

What benefits would be created if modern governments reduced financial regulations substantially in accordance with Smith’s thinking? From an ethical perspective, what societal costs might be created?

1. Macroeconomists refer to investment spending as:

buying shares of Apple stock.

buying newly issued shares of Uber stock.

purchasing physical capital.

saving for retirement.

purchasing a government savings bond.

2. In a closed economy, national savings is the sum of _______ and ______:

the budget balance; private consumption.

private saving; government tax revenue.

private saving; the budget balance.

the budget balance; trade surplus.

3. One difference between a closed and an open economy is that:

in the latter, foreign savings complement domestic savings in financing investment spending.

in the latter, the government is more open to the idea of financing investment spending than in the former.

in the former, foreign savings complement domestic savings in financing investment spending.

in the former, foreign savings finance more investment spending than in the latter.

4. The slope of the demand for loanable funds is:

upward, since it takes a higher rate of return to get more funds.

downward, because more potential projects yield 10% than yield 5%.

upward, because higher rates of return are necessary to cover higher costs.

downward, because demand is higher when the price to borrow money is higher.

downward, because the demand is higher when the price to borrow money is lower.

The U.S. government subsidizes the private provision of health insurance through employers. Benefits paid to employees are deductible as expenses by firms, but not recognized as taxable income by employees. Consider two employees, Ann and Bob, who work for two different employers. Ann earns $30,000, pays 15% in taxes, and pays $12,000 in premiums for health insurance offered by her employer. Bob earns $40,000, pays 25% in taxes, and has $12,000 worth of medical bills which he has to pay out of pocket, as Bob’s employer does not offer health insurance. Which of the following is true about Ann and Bob’s incomes?

A, After paying all taxes and medical bills, Ann and Bob’s incomes available for spending will be exactly the same.

B. After paying all taxes and medical bills, Ann and Bob’s incomes available for spending will differ by exactly $10,000.

C. After paying all taxes and medical bills, Ann and Bob’s incomes available for spending will differ by less than $10,000.

D. After paying all taxes and medical bills, Ann’s income available for spending will be $18,000.

E. After paying all taxes and medical bills, Bob’s income available for spending will be $15,300.

On April 22, 2019, CBO published a cost estimate for House Bill 582, Raise the Wage Act. You can obtain a copy of the report here. Read the report and answer the following questions.

(1) In your own word, why does raising the federal minimum wage DIRECTLY affect the federal budget?

(2) Would the proposed policy have an impact on mandatory spending, and why? If yes, by how much does it change the projected federal deficit associated with mandatory spending over the 2020-2029 period?

(3) Would the proposed policy have an impact on discretionary spending, and why? If yes, by how much does it change the projected federal deficit associated with discretionary spending over the 2020-2029 period?

(4) Why would the proposed policy impose “intergovernmental and private-sector mandates”? What are the estimated annual costs of the policy to subnational governments and private-sector organizations respectively? As the report states, spending for the Postal Service is classified as off-budget. The distinction between on-budget and off-budget programs is rather superficial. In your answer, please consider the overall federal budget including both on-budget and off-budget components.

(PLEASE BREAK IT DOWN DON'T JUST GIVE ME A NUMBER WITHOUT SHOWING THE WORK WHERE ALL NUMBERS CAME FROM PLEASE)

A-HOW DO I CALCULATE SALES?

B-WORK IN PROGRESS BEGINNING

C-FINISHED GOODS ENDING

D-DIRECT LABOR