some people have jobs some people go to college. assuming these two statements are true most people that attend college have jobs

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Answer 1
Answer: This is false. The premises don't form that conclusion which means that it is a logical fallacy. The two may overlap, but they don't mean that it is true.

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Assume that demand for a service depends upon price and income, where the price elasticity of demand is Ep = –0.6 and income elasticity is Ey = 1.2. If price falls by 4% and income rises by 2%, the quantity demanded of the service will _____. (a)-falls by 2.4% (b)-falls by 9.6% (c)-not affected since the price change and income change will exactly offset one another. (d)-increase by 6% (e)-increase by 4.8%
A recent study about online shopping asked respondents to indicate their education level on the following scale "Less than High School, " "High School, " "Some College, " "College+". Which of the following statements is (are) I. Education level is a categorical variable.II. Education level is nominal scaled.III. Education level is ordinal scaled. A. I onlyB. III onlyC. Both I and IIID. Both I and III
Hill Company uses job-order costing. At the end of the month, the following data was gathered:Job #Total CostComplete?Sold?803$611yesyes804$423yesno805$805nono806$682yesyes807$525yesno808$250nono809$440yesyes810$773yesno811$267nono812$341nonoHill's selling price is cost plus 50% for each of its products. What is the selling price of Job 806
Which of the following would be included in a property management report?a) Delinquent Tenant Reportb) Tenant Screening Reportsc) Schedule E Reportd) ACH Settlemente) Vendor Ledgerf) Rent Roll
30-year maturity bond with face value of $1,000 makes semiannual coupon payments and has a coupon rate of 8%. (Do not round intermediate calculations. Enter your answers as a percent rounded to 3 decimal places.) a. What is the yield to maturity if the bond is selling for $900?

Castles in the Sand generates a rate of return of 20% on its investments and maintains a plowback ratio of .30. Its earnings this year will be $5 per share. Investors expect a 12% rate of return on the stock.a. Find the price and P/E ratio of the firm.

b. Find the price and P/E ratio of the firm if the plowback ratio is reduced to 0.20.

Answers

Answer:

a. Earnings per share = $5

Expected dividend per share(D1) = 70% x $5 = $3.50

Current market price(Po) =  D1/Ke - g

Current market price(Po) = $3.50/0.12-0.06

                                   Po = $3.50/0.06

                                   Po = $58.33

Growth rate(g) = b x r

                        = 0.3 x 0.2

                        = 0.06

Price-earnings(P/E) ratio = market price per share/Earnings per share

                                        = 58.33/5

                                        = 11.67

b. Earnings per share = $5

D1 = 80% x $5 = $4

Po =  D1/Ke - g

Po = $4/0.12-0.04

Po = $50

g = b x r

g = 0.2 x 0.2

g = 0.04                            

P/E ratio = $50/$5

P/E ratio = 10

Explanation:

In this question, there is need to determine the growth rate, which is a function of return on investment and plowback ratio. Then, we will calculate the current market price as shown above. Finally, the current market price is divided by earnings per share in order to obtain the P/E ratio.

Local Co. has sales of $ 10.7 million and cost of sales of $ 5.9 million. Its​ selling, general and administrative expenses are $ 550 comma 000 and its research and development is $ 1.2 million. It has annual depreciation charges of $ 1.4 million and a tax rate of 35 %. a. What is​ Local's gross​ margin? b. What is​ Local's operating​ margin? c. What is​ Local's net profit​ margin?

Answers

Explanation:

The computation is shown below:

a. The gross margin is

Gross margin = (Sales revenues - Cost of sales) ÷ (Sales revenues) × 100

= ($10.7 million - $5.9 million) ÷ ($10.7 million) × 100

= 45%

b. The local operating margin is

= (Operating income ÷ Sales) × 100

where,

Operating income is

= (Sales - cost of sales - selling, general & administrative expenses - research & development - Depreciation & Amortization) ÷ (Sales revenue) × 100

= ($10.7 million - $5.9 million - $0.55 million - $1.2 million - $1.4 million) ÷ ($10.7 million) × 100

= ($1.65 million)  ÷ ($10.7 million) × 100

= 15.42%

c. Net profit margin

= (Net profit ÷ Sales) × 100

where,

= (Sales - cost of sales - selling, general & administrative expenses - research & development - Depreciation & Amortization) × (1 - tax rate) ÷ (Sales revenue) × 100

= ($10.7 million - $5.9 million - $0.55 million - $1.2 million - $1.4 million) × (1 - 0.35) ÷ ($10.7 million) × 100

= ($1.0725 million)  ÷ ($10.7 million) × 100

= 10.02%

All of the following are forms of cognitive bias except:_____.A. Confirmation bias: This bias occurs when decision makers seek out evidence that confirms their previously held beliefs, while discounting or diminishing the impact of evidence in support of differing conclusions.
B. Anchoring: This is the overreliance on an initial single piece of information or experience to make subsequent judgments. Once an anchor is set, other judgments are made by adjusting away from that anchor, which can limit one’s ability to accurately interpret new, potentially relevant information.
C. Shifting: This is the bias involved in shifting perspectives too rapidly, thereby forgoing objectivity and sound reasoning.
D. Halo effect: This is an observer’s overall impression of a person, company, brand, or product, and it influences the observer’s feelings and thoughts about that entity’s overall character or properties. It is the perception, for example, that if someone does well in a certain area, then they will automatically perform well at something else regardless of whether those tasks are related.
E. Overconfidence bias: This bias occurs when a person overestimates the reliability of their judgments. This can include the certainty one feels in her own ability, performance, level of control, or chance of success.

Answers

Answer:

Option C would be the correct answer.

Explanation:

Throughout objective reasoning, cognitive bias seems to be a weakness that has been triggered by that of the human brain's propensity to interpret knowledge through a prism of individual perspective including interests. The types of cognitive bias but for the remaining change.  

The types of cognitive bias are almost as follows:

  • Overconfidence bias
  • Confirmation bias
  • Halo effect
  • Anchoring bias

The latter considerations provided are not closely linked to the case provided. So, the answer above is the right one.

All of the given options are forms of cognitive bias except C. Shifting.

Cognitive biases are systematic patterns of deviation from objective judgment or rationality in decision-making. They can significantly impact the quality of our decisions. Among the listed options, all are recognized forms of cognitive bias except "Shifting."

Confirmation bias involves favoring information that confirms existing beliefs, Anchoring refers to relying too heavily on initial information, Halo effect influences overall judgments based on one aspect, and Overconfidence bias entails overestimating one's judgment's reliability.

"Shifting" is not a documented cognitive bias but may refer to rapidly changing perspectives, potentially leading to inconsistent or less objective reasoning. Understanding these biases is crucial for making more rational and informed decisions in various aspects of life.

So, option C is the answer.

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Sheffield's Bakery makes a variety of home-style cookies for upscale restaurants in the Atlanta metropolitan area. The company's best-selling cookie is the double chocolate almond supreme. Sheffield's recipe requires 10 ounces of a commercial cookie mix, 5 ounces of milk chocolate, and 1 ounce of almonds per pound of cookies. The standard direct materials costs are $0.80 per pound of cookie mix, $4 per pound of milk chocolate, and $19 per pound of almonds. Each pound of cookies requires 1 minute of direct labor in the mixing department and 5 minutes of direct labor in the baking department. The standard labor rates in those departments are $12.70 per direct labor hour (DLH) and $27 per DLH, respectively. Variable overhead is applied at a rate of $37.00 per DLH; fixed overhead is applied at a rate of $60 per DLH.Required:
1. Calculate the standard cost for a pound of Sheffield's double chocolate almond supreme cookies. (Round answer to 2 decimal places, e.g. 3.51.)

Answers

The Standard cost for a pound of Sheffield's double chocolate almond supreme cookies in the above case is $15.10.

What is the standard cost?

A standard cost is defined as an anticipated cost that a company commonly launches at the starting of a fiscal year for amounts used and prices paid.

It is an anticipated amount of money to pay off for materials costs or labor rates. The standardquantity is the anticipated exercise amount of materials or labor.

Computation of standard cost:

According to the given information,

Standard direct materials costs = $0.80 per pound of cookie mix.

Per pound of milk chocolate =  $4, and

Per pound of almonds = $19.

Total ounces:

\text{Total Ounce} = \text{Commercial cookies Mix+ Milk Chocolate+Almonds}\n\n\text{Total Ounce} = 10 + 5 + 1\n\n\text{Total Ounce}  = 16

Then, Standard Material Cost:

=((10)/(16)* 0.80)+((5)/(16)*4) +((1)/(16) * 19)\n\n=2.9375

Now, 1 minute of direct labor is required in the mixing department and 5 minutes of direct labor in the baking department. Then the standard direct labor cost is:

\text{Standard Direct Labor Cost} = ((1)/(60)* 12.70) +((5)/(60) * 27)\n\n\text{Standard Direct Labor Cost} = \$2.4617

Variable overhead is applied at a rate = $37.00 per direct labor hour

Now, find the value of Standard Variable overhead cost:

\text{Standard Variable Overhead Cost} = (6)/(60)* 37\n\n\text{Standard Variable Overhead Cost} =\$3.70

Now, Standard Fixed overhead cost:

\text{Standard Fixed Overhead Cost} = (6)/(60)* 60\n\n\text{Standard Fixed Overhead Cost} =\$6

Therefore, Standard cost for a pound:

=\text{ Standard Direct Labor Cost}+\text{Standard Variable Overhead Cost}+\text{ Fixed Overhead Cost}\n\n=\$2.9375 + \$2.4617 + \$3.70 + \$6\n\n=\$15.10

Therefore, Standard cost for a pound is $15.10.

To learn more about the standard cost, refer to:

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Answer:

The Standard cost for a pound  of Sheffield's double chocolate almond supreme cookies is $15.10

Explanation:

The standard direct materials costs are $0.80 per pound of cookie mix, $4 per pound of milk chocolate, and $19 per pound of almonds.

Total ounces = 10 + 5 + 1  = 16

Standard Material Cost = ((10)/(16) × 0.80) + ((5)/(16) × 4) + ((1)/(16) × 19)

Standard Material Cost = $ 2.9375

Each pound of cookies requires 1 minute of direct labor in the mixing department and 5 minutes of direct labor in the baking department.

Standard Direct Labor Cost = (1)/(60) × 12.70 + (5)/(60) × 27

Standard Direct Labor Cost = $2.4617

Variable overhead is applied at a rate of $37.00 per direct labor hour

Standard Variable overhead cost = 6/60 × 37

Standard Variable overhead cost = $ 3.70

Standard Fixed overhead cost = 6/60 × 60

Standard Fixed overhead cost = $ 6

Standard cost for a pound = $2.9375 + $2.4617 + $3.70 + $6

Standard cost for a pound = $15.10

Illegal multilevel marketing gimmick that promises commissions on one's own sales as well as on the sales of recruits

Answers

Illegal multilevel marketing gimmick that promises commissions on one's own sales as well as on the sales of recruits called Pyramid scheme.

What is pyramid scheme?

A pyramid scam is an unethical and unreliable investment pitch that depends on guaranteeing irrational profits on fictitious investments. The fact that the early investors receive these substantial returns prompts them to endorse the program to others. Returns to investors are paid from fresh capital coming in. When there are no more investors left, the pyramid eventually falls.

These businesses, sometimes known as pyramid schemes, are prohibited in the United States.

What is multi level Marketing?

Distributors profit from the sale of tangible goods and from commissions on the purchases and sales of the distributors they have recruited through Multi-Level Marketing operations (MLMs), which are respectable business schemes.

Although they sometimes pass for MLMs, pyramid schemes are more concerned with the fees from recruiters than the money from product sales.

To know more about Pyramid Schemes, refer to-

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Shown below are selected data from the financial statements of the Supreme Company. (Dollar amounts are in millions, except for the per share data). Income statement data:

$'000
Net sales $1,230
Cost of goods sold $520
Operating expenses $440
Net income $390
Balance sheet data:

$'000
Average total equity $2,400
Average total assets $4,000
Supreme reported earnings per share for the year of $4 and paid cash dividends of $1 per share.

At year-end, the Wall Street Journal listed Supreme's capital stock as trading at $88 per share.

Required:

Compute the following:

a). Gross profit rate

b). Supreme's operating income (in millions)

c). Return on assets

d). Return on equity

e). Price-earning ratio

Answers

Answer:

a. Gross profit rate =   Gross profit / sales

                              = $710,000 * 100

                                       $1,230,000

                              =  57.72%

b. Supreme Operating Income

Gross Profit                           $710,000

Operating expenses             (440,000)

Operating Profit                     270,000

c. Return on Asset  =   Return/  Average Asset

                                =   $390,000 * 100

                                       $4,000,000

                             =   9.75%

d. Return on equity  =   Return / Average equity

                                 =   $390,000 * 100

                                        $2,400,000

                               =      16.25%

e. Price-earnings ratio  =  Market price per share / earnings per share

                                       =   $88/ $4  

                                       =  22

Explanation:

Computation of Gross profit

                                                $'000

Net Sales                                1,230

Cost of goods sold                 (520)

Gross Profit                              710  

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