BUSINESS COLLEGE

Three years ago, law school admits deciding whether or not to attend the schools they were admitted to typically underestimated the future demand for lawyers. This forecasted demand corresponded with salaries that many admits were unwilling to accept, and fewer students than usual ended up attending law school. Now that these students have completed law school, the small graduating classes have led to a more limited supply of lawyers than is generally available. What will be the result of this mismatch?

Answers

Answer 1
Answer:

Answer:

Limited Supply of lawyers will lead to increase in Lawyer Wages / Salaries

Explanation:

Labour Markets are at equilibrium where : Labour Demand (by firms) = Labour Supply (by employees).

Analysing the labour market for Lawyers : Previous anticipations finally leading to small graduating classes & limited supply of lawyers. This limited supply creates excess demand of lawyers. The mismatched excess demand (by firms) creates competition among buyer firms, which leads to increase in price (wages or salaries) of lawyers.

Related Questions

Regulatory focus theory suggests that consumers will react differently depending on which broad set of motives is more salient. Name and describe the two prominent sets of motives and describe how consumers will react when each set of motives is more noticeable. Use a specific product or service to explain your answer.
What is the discount yield, bond equivalent yield, and effective annual return on a $2 million commercial paper issue that currently sells at 98.25 percent of its face value and is 128 days from maturity? (Use 360 days for discount yield and 365 days in a year for bond equivalent yield and effective annual return. Do not round intermediate calculations. Round your answers to 3 decimal places. (e.g., 32.161))
Finishing Touches has two classes of stock authorized: 8%, $10 par preferred, and $1 par value common. The following transactions affect stockholders' equity during 2021, its first year of operations: January 2 Issues 100,000 shares of common stock for $35 per share. February 6 Issues 3,000 shares of 8% preferred stock for $11 per share. September 10 Purchases 11,000 shares of its own common stock for $40 per share. December 15 Resells 5,500 shares of treasury stock at $45 per share. In its first year of operations, Finishing Touches has net income of $160,000 and pays dividends at the end of the year of $94,500 ($1 per share) on all common shares outstanding and $2,400 on all preferred shares outstanding. Required: Prepare the stockholders' equity section of the balance sheet for Finishing Touches as of December 31, 2021. (Amounts to be deducted should be indicated by a minus sign.)
Last year, Mountain Top, Inc., purchased a coal mine at a cost of $900,000. The salvage value has been estimated at $100,000. The coal mine has an estimated 200,000 tons of available coal. A total of 70,000 tons were mined and sold during the current year. Complete the necessary adjusting journal entry to record depletion expense for the current year by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Dextra Computing sells merchandise for $6,000 cash on September 30 (cost of merchandise is $3,900). Dextra collects 5% sales tax. 1. Record the entry for the $6,000 sale and its sales tax. 2. Record the entry that shows Dextra sending the sales tax on this sale to the government on October 15.3. Record the cost of Sept. 30th sales.4. Record the entry that shows the remittance of the 5% tax on this sale to the state government on October 15.5. Record the cash sales and 3% sales tax.

Ethelbert is a young software company owned by two entrepreneurs. It currently needs to raise $1,254,400 to support its expansion plans. A venture capitalist is prepared to provide the cash in return for a 40% holding in the company. Under the plans for the investment, the VC will hold 19,600 shares in the company and the two entrepreneurs will have combined holdings of 29,400 shares.a. What is the total after-the-money valuation of the firm?
b. What value is the venture capitalist placing on each share?

Answers

Answer:

a. $3,136,000

b. $64 per share

Explanation:

The computation is shown below

a. The total after the money valuation is

= $1,254,400 ÷ 40%

= $3,136,000

b. The value that venture capitalist place on each share is

= $3,136,000 ÷ (19,600 ÷ 40%)

= $3,136,000 ÷ 49,000 shares

= $64 per share

Hence, the same should be considered

A produce distributor uses 773 packing crates a month, which it purchases at a cost of $11 each. The manager has assigned an annual carrying cost of 33 percent of the purchase price per crate. Ordering costs are $28. Currently the manager orders once a month. How much could the firm save annually in ordering and carrying costs by using the EOQ?

Answers

\sqrt(2*773*28)/(33)Answer:

Explanation:

Using the EOQ Formula =  EOQ\sqrt(2*D*O)/(H)

D = Demand = 773

O = Ordering Cost =28

H = holding Cost = 11*33% =3.63

So we have :

EOQ=\sqrt(2*D*O)/(H)

EOQ= \sqrt(2*773*28)/(3.63)

EOQ=\sqrt(43288\n)/(3.63)

EOQ= √(11925.06887)

EOQ= 109.20196

   

Previous per unit order cost = 28/773 =0.03622

No of Orders = D/o  

No of Orders = 773/109.20196 =7.0786

Cost per order =109.20196*0.03622 =3.9555

Total order cost= 7.0786*3.9555=27.9998

At EOQ holding Cost is equal to Order Cost

New Order cost =27.9998

Holding Cost = 27.9998

New cost As per EOQ = 56

Previous (33+28)  =  61

Net Saving = 5

KINGBIRD, INC. Income Statement For the Year Ended December 31, 2020 Sales revenue $446,700
Cost of goods sold 202,300
Gross profit 244,400
Expenses (including $16,300 interest and $20,800 income taxes) 70,800
Net income $ 173,600

Additional information:

1. Common stock outstanding January 1, 2020, was 27,200 shares, and 38,600 shares were outstanding at December 31, 2020.
2. The market price of Kingbird stock was $15 in 2020.
3. Cash dividends of $21,700 were paid, $6,500 of which were to preferred stockholders.

Compute the following measures for 2020.

(a) Earnings per share
(b) Price-earnings ratio
(c) Payout ratio

Answers

Answer and Explanation:

The computation is shown below:

a. Earning per share

= (Net income - preferred dividend) ÷ (Weighted average number of outstanding shares)

= ($173,600 - $6,500) ÷ (27,200 shares + 38,600 shares) ÷ 2

= $167,100 ÷ 32,900 shares

= $5.08 per share

b. Price earnings ratio = Market price ÷ Earning per share

                                    = $15 / $5.08

                                    = 2.95

c. Payout ratio = Dividend paid ÷ Net income

= ($21,700 - $6,500) ÷ ($173,600)

= 8.76%

A number of activities that are a part of a company's quality control system are listed below: a. Product testing.
b. Product recalls.
c. Rework labor and overhead.
d. Quality circles.
e. Downtime caused by defects.
f. Cost of field servicing.
g. Inspection of goods.
h. Quality engineering.
i. Warranty repairs.
j. Statistical process control.
k. Net cost of scrap.
I. Depreciation of test equipment.
m. Returns and allowances arising from poor quality.
n. Disposal of defective products.
o. Technical support to suppliers.
p. Systems development.
q. Warranty replacements.
r. Field testing at customer site.
s. Product design.

Required:
1. Classify the costs associated with each of these activities into one of the following categories: prevention cost, appraisal cost, internal failure cost, or external failure cost.
2. Which of the four types of costs in (1) above are incurred in an effort to keep poor quality of conformance from occurring? Which of the four types or costs in (1) above are incurred because poor quality of conformance has occurred?

Answers

Answer:

Explanation:

A. Product testing - Appraisal cost

B. Product recalls - External Failure cost

C. Rework labor and overhead - Internal Failure cost

D. Quality circles - Prevention cost

E. Downtime caused by defects - Internal Failure cost

F. Cost of field servicing - External Failure cost

G. Inspection of goods - Appraisal cost

H. Quality engineering -  Prevention cost

I. Warranty repairs - External Failure cost

J. Statistical process control -Prevention cost  

K. Net cost of scrap - Internal Failure cost

L. Depreciation of test equipment - Appraisal cost

M. Returns and allowances arising from poor quality - External Failure cost

N. Disposal of defective products - Internal Failure cost

O. Technical support to suppliers - Prevention cost

P. Systems development - Prevention cost

Q. Warranty replacements -   Internal Failure cost

R. Field testing at customer site - Appraisal cost

S. Product design -  Prevention cost

2. Which of the four types of costs in (1) above are incurred in an effort to keep poor quality of conformance from occurring? Prevention costs and appraisal costs.

Which of the four types or costs in (1) above are incurred because poor quality of conformance has occurred?   Internal failure costs and external failure costs

Final answer:

The costs associated with each activity can be classified into prevention cost, appraisal cost, internal failure cost, or external failure cost. Prevention costs are incurred to keep poor quality of conformance from occurring, while internal failure costs occur because poor quality of conformance has occurred within the organization.

Explanation:

The costs associated with each activity can be classified as follows:

  1. Prevention cost: Product design, Quality circles, Quality engineering, Statistical process control, Systems development
  2. Appraisal cost: Inspection of goods, Depreciation of test equipment
  3. Internal failure cost: Rework labor and overhead, Downtime caused by defects, Cost of field servicing, Net cost of scrap, Depreciation of test equipment, Returns and allowances arising from poor quality, Disposal of defective products, Technical support to suppliers, Systems development
  4. External failure cost: Product recalls, Warranty repairs, Warranty replacements, Field testing at customer site

Prevention costs are incurred to keep poor quality of conformance from occurring, while appraisal costs are incurred to assess the conformance of products. Internal failure costs occur because poor quality of conformance has occurred within the organization, while external failure costs occur because poor quality of conformance has occurred outside of the organization.

Learn more about Quality Control System here:

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Chesterfield and Weston has 55,000 shares of common stock outstanding at a price of $31 a share. It also has 3,000 shares of preferred stock outstanding at a price of $62 a share. The firm has 8 percent, 12-year bonds outstanding with a total face value of $400,000. The bonds are currently quoted at 101.2 percent of face and pay interest semiannually. What is the capital structure weight of the firm's debt if the tax rate is 35 percent

Answers

Answer:

E = 74.27%

Preferred = 8.10%

Debt = 17.63%

Explanation:

We are asked for the structure weight.

Equity 55,000 shares x  31 = 1,705,000

Preferred stock 3,000 x 62 =   186,000

Debt    400,000 x 101.2/100 = 404,800

                                                                 

Value of the Firm                  2,295,800‬  

Now we divide each component by the value of the firm.

Equity weight 1,705,000/2,295,800 = 0,742660 = 74.27%

Preferred stock 186,000 / 2,295,800 = 0,081017 = 8.10%

Debt 404,800/ 2,295,800 = 0,17632197 = 17.63%

According to the media report how have the commited collusion​

Answers

Answer:

You must post the whole paragraph?????
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