The simplest remedy available to the ftc against firms charged with false, misleading, or deceptive advertising is __________ . cease and desist order consent decree corrective advertising fines

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Answer 1

Answer: The simplest remedy available to the FTC against firms charged with false, misleading, or deceptive advertising is consent decree. A consent decree is defined as an agreement or settlement that ends s dispute between two or ore parties without anyone admitting to being guilty or liable of actions. This is one of the main types of settlements that happens within the United States.

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Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 25%. The Federal Reserve buys a government bond worth $1,800,000 from Yakov, a client of First Main Street Bank. He deposits the money into his checking account at First Main Street Bank.Complete the following table to reflect any changes in First Main Street Bank's T-account (before the bank makes any new loans)Assets LiabilitiesComplete the following table to show the effect of a new deposit on excess and required reserves when the required reserve ratio is 25%.Amount Deposited (Dollars) Change in Excess Reserves (Dollars) Change in Required Reserves (Dollars)1,800,000
At the beginning of the year, a firm has current assets of $328 and current liabilities of $232. At the end of the year, the current assets are $493 and the current liabilities are $272. What is the change in net working capital?
ecan Theatre Inc. owns and operates movie theaters throughout Florida and Georgia. Pecan Theatre has declared the following annual dividends over a six-year period: 20Y1, $30,000; 20Y2, $60,000; 20Y3, $143,000; 20Y4, $173,000; 20Y5, $218,000; and 20Y6, $270,000. During the entire period ended December 31 of each year, the outstanding stock of the company was composed of 25,000 shares of cumulative, preferred 3% stock, $100 par, and 100,000 shares of common stock, $25 par. Required: 1. Determine the total dividends and the per-share dividends declared on each class of stock for each of the six years. There were no dividends in arrears at the beginning of 20Y1. Summarize the data in tabular form. If required, round your answers to two decimal places. If the amount is zero, please enter "0".
Bramble Corp. has two divisions; Sporting Goods and Sports Gear. The sales mix is 65% for Sporting Goods and 35% for Sports Gear. Bramble incurs $6750000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. The weighted-average contribution margin ratio is
If the cost of the beginning work in process inventory is $70,000, costs of goods manufactured is $935,000, direct materials cost is $339,000, direct labor cost is $219,000, and overhead cost is $324,000, calculate the ending work in process inventory:

The average fixed cost curve a. always declines with increased levels of output. b. always rises with increased levels of output. c. declines as long as it is above marginal cost. d. declines as long as it is below marginal cost.

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Answer: a. always declines with increased levels of output.

Explanation: the average fixed cost curve graphically illustrates or shows the relation between average fixed cost a firm incurs in the short-run production of a good or service, and the quantity produced. The average fixed cost curve always declines with increases in the level of output resulting in a negatively sloped curve. This is to say that the average fixed cost is relatively high at smaller quantities of output, which then declines as the level of production increases--the more output increases, the more average fixed cost declines. Why this occurs is that a given fixed cost is spread over an increasingly larger quantity of output and as such, firms can profitably charge a lower price with increased output.

The Work-in-Process inventory account of a manufacturing firm shows a balance of $3,960 at the end of an accounting period. The job cost sheets of two uncompleted jobs show charges of $640 and $440 for materials, and charges of $540 and $740 for direct labor. From this information, it appears that the company is using a predetermined overhead rate, as a percentage of direct labor costs, of:

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Answer: 125%

Explanation:

Manufacturing overhead = Predetermined overhead rate * Direct labor

Manufacturing Overhead

= Work in process balance - Direct labor - Direct materials

= 3,960 - 640 - 440 - 540 - 740

= $1,600

The rationale behind the above is that that the Work in process account is made up of Direct labor, material and overhead. The Overhead would therefore be the balance less the Direct material and labor.

Direct Labor = 540 + 740

= $1,280

Manufacturing overhead = Predetermined overhead rate * Direct labor

1,600 = Predetermined overhead rate * 1,280

Predetermined overhead rate = 1,600/1,280

= 1.25

= 125%

Information related to Mingen back Company for 2015 is summarized below: Instructions: A. What amount of bad debt expense will Mingen back Company report if it uses the direct write-off method of accounting for bad debts? B. Assume that Mingen back Company estimates its bad debt expense to be 2% of credit sales. What amount of bad debt expense will Mingen back record if it has an Allowance for Doubtful Accounts credit balance of $4,000? C. Assume that Mingen back Company estimates its bad debt expense based on 6% of accounts receivable. What amount of bad debt expense will Mingen back record if it has an Allowance for Doubtful Accounts credit balance of $3,000? D. Assume the same facts as in (c), except that there is a $3,000 debit balance in Allowance for Doubtful Accounts. What amount of bad debt expense will Mingen back record? E. What is the weakness of the direct write-off method of reporting bad debt expense?

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Answer:

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Explanation:

Everlast Co. manufactures a variety of drill bits. The company's plant is partially automated. The budget for the year includes $660,000 payroll for 8,600 direct labor-hours. Listed below is cost driver information used in the product-costing system: Overhead Cost Pool Budgeted Overhead Cost Driver Estimated Cost Driver Level Machine setups $ 310,000 # of setups 310 setups Materials handling 115,800 # of barrels 9,650 barrels Quality control 1,290,000 # of inspections 3,000 inspections Other overhead cost 1,075,000 # of machine hours 21,500 machine hours Total overhead $ 2,790,800 A current product order has the following requirements: Machine setups 28 setups Materials handling 720 barrels Quality inspections 90 inspections Machine hours 1,700 machine hours Direct labor hour 564 hours Using ABC, how much total overhead is assigned to the order?

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Answer:

Total overheads assigned to order = $203,621.36

Explanation:

As for the information provided:

Payroll = $(660,000)/(8,600) =$ = $76.74 per hour

Setups = $(310,000)/(310)$ = $1,000 per setup

Material Handling = $(115,800)/(9,650)$ = $12 per barrel.

Quality Control = $(1,290,000)/(3,000) =$ $430 per inspection.

Other overhead = $(1,075,000)/(21,500) =$ = $50 per machine hour.

Details of current product requirement: And the related expense shall be :

28 setups = 28 $*$ $1,000 = $28,000

720 barrels = 720 $*$ $12 = $8,640

90 inspections = 90 $*$ $430 = $38,700

1,700 machine hours = 1,700 $*$ $50 = $85,000

564 labor hours = 564 $*$ $76.74 = $43,281.36

Total overheads assigned to order = $203,621.36

The process for converting present values into future values is called compounding. This process requires knowledge of the values of three of four time-value-of-money variables. Which of the following is not one of these variables? A. The interest rate (I) that could be earned by deposited funds
B. The present value (PV) of the amount deposited
C. The duration of the deposit (N)
D. The trend between the present and future values of an investment

Answers

Answer:

D. The trend between the present and future values of an investment

Explanation:

The future value of an investment formula is:

FV = PV (1 + i)^n

Where:

FV = Future Value of the investment
PV = Present Value of the investment
i = interest rate
n = number of compounding periods or duration of the deposit

We can determine that the trend between the present and future values of an investment is not needed to find the future value of an investment, because such trend is not part of the future value of an investment formula, while all the other variables are part of it.

5. Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each. Annual carrying costs per pot are estimated to be 30 percent of cost, and ordering costs are $20 per order. The manager has been using an order size of 1,500 flower pots. a. What additional annual cost is the shop incurring by staying with this order size

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If Garden Variety Flower Shop uses 750 clay pots a month. The pots are purchased at $2 each. Annual carrying costs per pot are estimated to be 30 percent of cost, and ordering costs are $20 per order. The manager has been using an order size of 1,500 flower pots:

a. What additional annual cost is the shop incurring by staying with this order size will be: $105.24

b. What benefit would using the optimal order quantity yield will be 51.63%

a. Additional annual cost

Annual demand (D) =$750 x 12= $9,000

Ordering cost=$20 per order

Annual carrying costs(H)=0.30 ×$2.00 = $0.60

Order Quantity(Q) = 1,500

Find TC for Q

TC=Q÷2×H + D÷Q × S

TC=1,500÷2 × $0.60 + $9,000÷1,500×$20

TC=$450+$120

TC=$570............. (1)

Now find Qo

Qo=√2DS÷H

Qo=√2×$9,000×$20÷0.60

Qo=√600,000

Qo=$774.596

Qo=$774.60 (Approximately)

Find TC for Qo

TC=Q÷2×H + D÷Q ×

TC=774.60÷2 × $0.60 + $9,000÷774.60×$20

TC=$232.38+$232.38

TC=$464.76................(2)

Now let determine the additional annual cost

Additional annual cost=$570-$464.56

Additional annual cost=$105.24

b. Benefit would using the optimal order quantity yield (relative to the order size of 1,500)

Benefit=Qo÷Q

Benefit=$774.60÷1,500×100

Benefit=51.63%

The benefit is that about 51.63% of the storage space would be needed.

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Answer:

Additional cost= $570

Explanation:

Monthly demand = 750

Annual demand (D) = Monthly Demand x Number of months in a year

Annual demand (D) = 750 x 12 = 9,000

Cost (C) = $2.00 each

Annual carrying costs (Cc) = 30 percent of cost

Annual carrying costs (Cc) = 30% of $2.00 = $0.60

Ordering costs (Co) = $20

Current order quantity (Q1) = 1,500

Solution:

(a) Current cost is calculated as,

Current cost = Annual carrying costs + Annual ordering costs

Current cost = [(Quantity / 2) x Carrying cost] + [(Annual demand / Current Quantity) x Ordering cost]

Current cost = [(1500 / 2) x $0.60] + [(9000 / 1500) x $20]

Current cost = $450 + $120

Current cost = $570

Other Questions

Dr. Osorno was served with a malpractice lawsuit based on allegedly removing the wrong organ. Following discovery, it becomes clear that the plaintiff has no credible evidence against the doctor, and that no reasonable jury could rule in the plaintiff's favor. How should Dr. Osorno's lawyer proceed?a. The lawyer should make a motion for summary judgment.b. The lawyer should make a motion for additional discovery.c. The lawyer should make a motion to amend the answer in order to make a motion to dismiss.d. The lawyer should file a motion for judgment on the pleadings.e. The lawyer should proceed to trial.

The future value of a dollar 1. increases with lower interest rates 2. increases with higher interest rates 3. increases with longer periods of time 4. decreases with longer periods of time

True Fit Shoe Company makes loafers. During the most recent year. True Fit incurred total manufacturing costs of $24.500.000. Of this amount. $3,000,000 was direct materials used and $16, 800,000 was direct labor. Beginning balances for the year were Raw Materials Inventory. $900,000. Work-in-Process Inventory. $600,000; and Finished Goods Inventory. $1, 300,000. At the end of the year, balances were Raw Materials inventory. $800,000; Work-in-Process Inventory. $1, 700,000; and Finished Goods inventory. $390,000.RequirementsAnalyze the inventory accounts to determine:1. Cost of raw materials purchased during the year.2. Cost of goods manufactured for the year.3. Cost of goods sold for the year.4. Cost of raw materials purchased during the year.