Answer and Explanation:
The indication of the following transactions are as follows in the trail balance
Particulars Debit Credit
a. Overstated Overstated
b. Understated Overstated
c, Overstated No effect
d. Overstated Understated
e. Overstated Understated
These are the effects for each of the given transaction
Evaluate whether Min-Chul is right to focus more on non-financial motivators than financial
motivators to attempt to motivate employees.
The most prevalent financial motivations occur at work and entail monetary rewards. These are your extrinsic motives, often known as carrots and sticks, which are used to encourage and reward employees for specific achievement behaviors.
Financial incentives drive workers and make them aware of what they stand to gain or lose depending on their performance when they are effectively conveyed. The employee can more easily provide for their families and materially better their lives outside of work thanks to this kind of inducement. Financial incentives can also raise short-term morale and productivity.
Naturally, not everyone is driven by money, and Gallup has discovered that there is no connection between engagement and pay scale. In addition, because of their monetary character, financial motivators frequently have declining returns. Less frequent non-financial motivators are frequently intangible and do not explicitly involve money. These can take various forms, such as acknowledgment, increased accountability and faith in a position, involvement in decisions, adaptable schedules, mentoring, feedback, and others.
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Sandra’s Purse Boutique has the following transactions related to its top-selling Gucci purse for the month of October. Sandra's Purse Boutique uses a periodic inventory system.
Date Transactions Units Unit Cost Total Cost
October 1 Beginning inventory 6 $ 790 $ 4,740
October 4 Sale 4
October 10 Purchase 5 800 4,000
October 13 Sale 3
October 20 Purchase 4 810 3,240
October 28 Sale 7
October 30 Purchase 8 820 6,560
$ 18,540
3. Using LIFO, calculate ending inventory and cost of goods sold at October 31
The cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.
The LIFO method (last-in, first-out) of inventory valuation requires that the most recent purchases of inventory be used first in the cost of products sold and ending inventory calculations. The ending inventory and cost of products sold at the end of October will be calculated using the LIFO method, based on the data given in the table.Based on the data given, the total units sold is 14, and the total units purchased is 17. Here's how to calculate the ending inventory and cost of products sold using the LIFO method:Step 1: The last purchase of 8 units at a cost of $820 each on October 30 is deducted from the inventory count, leaving 9 units.Step 2: The previous purchase of 4 units at a cost of $810 each on October 20 is deducted from the inventory count, leaving 5 units.Step 3: The next purchase of 5 units at a cost of $800 each on October 10 is deducted from the inventory count, leaving 0 units.Step 4: Based on the LIFO method, the cost of the ending inventory is the sum of the cost of the oldest units remaining in stock, which is 4 units at a cost of $790 each on October 1, totaling $3,160.Step 5: Based on the LIFO method, the cost of goods sold (COGS) is calculated by adding the total cost of units sold, which is 14 units at a cost of $820 each on October 30, 4 units at a cost of $810 each on October 20, and 5 units at a cost of $800 each on October 10, totaling $17,260.Therefore, the cost of goods sold (COGS) was $17,260, and the ending inventory was $3,160 using the LIFO method.For more questions on cost of goods sold (COGS)
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Name three sources of law and cite an example of each.
Answer:
Key Takeaways
The three sources of law are constitutional, statutory, and case law.
The sources of law are ranked as follows: first, constitutional; second, statutory; and third, case law.
The purpose of the US and state constitutions is to regulate government action.
Hope this helps :D
The following data from the just completed year are taken from the accounting records of Mason Company:
Sales $ 651,000
Direct labor cost $ 84,000
Raw material purchases $ 136,000
Selling expenses $ 103,000
Administrative expenses $ 46,000
Manufacturing overhead applied to work in process $ 205,000
Actual manufacturing overhead costs $ 222,000
Inventories Beginning Ending
Raw materials $ 8,700 $ 10,400
Work in process $ 5,200 $ 20,200
Finished goods $ 75,000 $ 25,100
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.
Required 1
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Mason Company
Schedule of Cost of Goods Manufactured
Direct materials: Total raw materials available Raw materials used in production Total manufacturing costs 0
Cost of goods manufactured Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
Mason Company
Schedule of Cost of Goods Sold
Prepare an income statement.
Mason Company
Income Statement
0
Selling and administrative expenses: 0
$0
Direct labour and productive labour are the terms used to describe the workers who actually handle and process the various materials, either directly or with the help of machines.
What is meant by direct labor?Direct labour costs are a part of the wage bill or payroll that can be specifically and consistently linked to or allocated to the production of a commodity, a particular work order, or the provision of a service. The salaries and wages given to workers who are directly involved in the production of a particular good or in rendering a service are referred to as direct labour.
Regular working hours, overtime hours, associated payroll taxes, social welfare, Medicare, unemployment, worker's benefits, retirement plan contributions, medical coverage, and other expenses are all considered to be direct labour costs.
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One of Shanice's team members is not happy with their performance review and refuses to accept the rating she gave. What should Shanice do?
Shanice should aim to resolve the issue through open communication, active listening, and a willingness to address the team member's concerns.
Listen and understand: Shanice should create an open and safe space for the team member to express their concerns. She should actively listen and seek to understand their perspective. This demonstrates empathy and shows that she values their input.
Provide clarity: Shanice should provide a clear explanation of the performance review process, including the criteria used to evaluate performance and the specific examples that led to the assigned rating. This can help address any misunderstandings or misconceptions.
Address concerns and offer feedback: Shanice should address the team member's specific concerns and provide constructive feedback. She can highlight areas for improvement and offer guidance on how to enhance performance. It's important for Shanice to focus on specific behaviors and outcomes rather than personal attacks or generalizations.
Seek input and involve the team member: Shanice can ask the team member for their suggestions on how to improve their performance or address their concerns. Involving them in the process can foster a sense of ownership and encourage collaboration.
Consider a reevaluation: If Shanice believes there may have been an oversight or if the team member presents compelling evidence, she can consider a reevaluation of the performance review. This may involve gathering additional feedback or revisiting the evaluation criteria.
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Why is it good to have home equity
#CarryOnLearning
The engagement team performed testing of the tax account rollforward and documented the following for testing of the income tax payments for the
current year, "Agreed balance to Tax payments/refunds schedule prepared by the client without exception." Which is the best response as a result of
your review?
Answer the question, then select Confirm
A. You consider the source of the payments/refunds schedule noting it comes from a key system and ITGCs were deemed to be
effective and add this fact to the team's documentation.
B. Additional procedures are not necessary, as the appropriate tie-out procedures were performed.
C. You consider the testing over the accuracy and completeness of management's schedule which has been performed in a
separate EGA, ensure the balance in the rollforward agrees to the testing performed, and enhance the tax team's documentation to
reference the additional testing.
D. As part your review of the team's work, you re-perform their procedures by agreeing the balance to the payments/refunds
schedule obtained from the client.
Confirm
The best response that you would have as a result of your review would be ; You consider the testing over the accuracy and completeness of management's schedule which has been performed in a separate EGA, ensure the balance in the roll forward agrees to the testing performed, and enhance the tax team's documentation to reference the additional testing.
What does it mean to carry out testing of tax account?This is the term that has to do with the performing of the procedure in such a way that it would be able to take care of an underlying account record or a given transaction.
The answer to this question is option C. You would have to ensure that you consider the testing over the accuracy and completeness of management's schedule.
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des
11. Ashleigh has a pet boa constrictor named
Pauline. She keeps it in the most expensive,
escape-proof cage she can find. Regardless,
the boa escapes and kills the neighbor's famed
show cat which was valued at more than $5,000.
Will Ashleigh be liable?
at
ely
Will Ashleigh be liable
Answer:
yes
Explanation:
it was her boa constrictor so therefore she is held responsible
oligopolists are tempted to produce more thn the quantity that would maximize industry profits because when they increase output
That would maximize industry profits because when they increase output the price effect is spread across multiple firms.
Who are oligopolists?
There are just a few businesses in an oligopoly market structure, and none of them can stop the others from having a significant influence. The concentration ratio is used to determine the market share of the largest corporations.
A monopoly market has only one producer, a duopoly market has two companies, and an oligopoly market has three or more companies. Unknown is the maximum number of firms that may exist in an oligopoly, but it must be few enough for each firm's operations to significantly affect those of the others.
Oligopolies have occurred in the past in a variety of industries, including steel, oil, railroads, tires, grocery store chains, and telecommunications.
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Mr Ashok has a company, and has an option to issue different types of preference shares. State all the types preference shares a company can issue.
What breif document should always include the six basic story element
Answer:
Explanation:
.
finance and financial planning professionals have to work with clients on a (what) basis?
monthly
daily
weekly or
rare
Monthly customer interaction is necessary for those in finance and financial planning. As a result, choice (A) is right.
According to common use, a financial planning is a thorough assessment of a person's present financial situation and anticipated future financial status that uses current known variables to forecast future earnings, asset values, and withdrawal schedules.
A budget that organizes a person's finances is frequently included in this, as well as perhaps a list of actions or precise objectives for interaction future spending and saving.
This plan divides up future income into several categories of costs, such rent or utilities, while also setting aside a portion for both short- and long-term savings.
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Help I’ll give you 30 pts
Answer:
Dejé caer las pastillas
Ellas perdieron la recepie
Tengo la radiografia
Explanation:
aquí ypu va! ¡Espero que esto ayude!
Bonita Industries financed the purchase of a machine by making payments of $29000 at the end of each of five years. The appropriate rate of interest was 8%. The future value of one for five periods at 8% is 1.46933. The future value of an ordinary annuity for five periods at 8% is 5.86660. The present value of an ordinary annuity for five periods at 8% is 3.99271. What was the cost of the machine to Bonita?
Answer:
Cost of Machine today = $115788.59
Explanation:
To calculate the cost of machine to Bonita in today's term, we need to calculate the present value of annuity. We know that the payments made are in form of an ordinary annuity because the amount of payment is fixed (29000) , the payments are made after equal interval of time (at the end of each year) and are made in finite number (5 years).
We will multiply the annuity payment per period by the PV of ordinary annuity factor as provided in the question to calculate the value or price of machine today.
Cost of Machine today = 29000 * 3.99271
Cost of Machine today = $115788.59
the upscale hotel chain hilton wants to compare its growth to another benchmark company. what company should it compare itself to?
The upscale hotel chain Hilton should compare its growth with Marriott which is also an upscale hotel chain.
Operations in hotels can vary in size, purpose, complexity, and expense. To categorize different hotel kinds, the majority of hotels and significant hospitality organizations have established industry standards. Luxury facilities, full-service lodging, an on-site restaurant, and the greatest level of individualized attention, such as a receptionist, room service, and employees to press clothes, are all features of an upscale full-service hotel facility. In addition to numerous full-service rooms, an on-site full-service cafeteria, and a number of other on-site amenities, full-service hotels frequently have luxury full-service facilities. Smaller, independent, non-branded hotels known as "boutique hotels" frequently have luxury amenities. Small to medium-sized hotels only provide a few amenities on the premises.
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Homeowners insurance gives you both property and liability protection.
Answer:
True
Explanation:
If you have drunk friends you want this insurance.
True. Homeowners insurance provides both property and liability protection.
What is property protection?The property protection aspect of homeowners insurance covers the physical structure of the home, as well as personal belongings within the home, against perils such as fire, theft, and vandalism.
It may also provide coverage for additional structures on the property, such as garages or sheds. Liability protection, on the other hand, safeguards homeowners from legal and financial responsibility if someone is injured on their property or if they accidentally cause damage to someone else's property.
This coverage typically includes legal expenses and medical payments to the injured party.
The answer is true.
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Question 2
Which is a capability of a presentation software program?
calculating mathematical data
o combining animation and sound
O copying and printing documents
O connecting several computers
Previous
On average, our representatives enroll one customer every 3 hours, while top performers make one sale per hour. How would you plan your workweek to maximize your earnings?*
Plan your workweek to maximize your earnings Identify peak sales hours, Set ambitious goals, Allocate more time during high-performance hours, Continuous improvement, Efficient time management, Develop strong customer relationships, and Continuous learning.
To maximize earnings in this scenario, it is important to strategically plan the workweek and focus on increasing the number of customer enrollments. Here is a potential plan to maximize earnings:
1. Identify peak sales hours: Analyze the data and determine the hours or time slots when sales are most likely to occur. This could be based on historical data or observations of customer behavior. Allocate more time during these peak hours to capitalize on potential sales opportunities.
2. Set ambitious goals: Aim to achieve or exceed the performance of top performers by setting ambitious sales goals. This mindset will drive motivation and focus throughout the workweek.
3. Allocate more time during high-performance hours: Dedicate a larger portion of the workweek to the hours when top performers make one sale per hour. By increasing the number of hours during these periods, there is a higher likelihood of securing more customer enrollments.
4. Continuous improvement: Regularly analyze and reflect on sales techniques and strategies. Identify areas for improvement and seek ways to refine your approach. This could involve studying successful sales tactics, attending sales training sessions, or seeking feedback from experienced colleagues or mentors.
5. Efficient time management: Optimize time management skills to ensure productivity during working hours. Eliminate distractions, prioritize tasks, and maintain a focused and organized work environment. This will help maximize the number of customer interactions and increase the chances of securing enrollments.
6. Develop strong customer relationships: Emphasize building rapport and establishing strong connections with potential customers. Focus on active listening, understanding their needs, and providing personalized solutions. By developing trust and fostering positive relationships, the likelihood of successful enrollments can increase.
7. Continuous learning: Stay updated on industry trends, product knowledge, and competitor offerings. This will enable you to effectively address customer inquiries, overcome objections, and provide value-added insights during sales interactions.
By implementing these strategies, planning the workweek to prioritize peak sales hours, setting ambitious goals, improving sales techniques, and managing time efficiently, you can increase the likelihood of maximizing earnings by securing a higher number of customer enrollments.
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1. For an organization (or part of an organization) of your choice: a) List and briefly explain the main pure loss exposures under the following headings: Asset Exposures Personnel Exposures Liability Exposures Consequential Loss Exposures b) For each loss exposure on your list, explain the method that is used by the organization to manage the risk; whether it is (i) controlled or (ii) financed. c) If the loss exposures identified, to your estimation, is being managed satisfactorily state the reason (s) you think it is. If it is not being satisfactorily managed explain why and provide suggestions on how the management of the risk may be improved.
There are different kinds of exposure. The Organization of my choice is Unilever.
What is Assets exposureIt is known to be the amount of money that the investor could lose on an asset. Unilever pure loss exposure was seen on the disposal of plant and equipment, Operating profit/(loss) and Restructuring cost.
What is Personnel ExposuresPersonnel Exposures is seen as a form of incident where a person comes in contact with any kind of hazardous chemical, radiological, etc., agents. Unilever Personnel Exposures includes employees exposure to chemical agents, road accident resulting in injuries, etc.
What is Consequential Loss ExposureConsequential Loss Exposure is one that is said to be a lose due to indirect adverse effect as a result of damage to business property or equipment. Unilever Consequential Loss Exposure through damages to their property damage due to ethnic violence on their plantation, personal injury and death due to Homeworking, damages as a result of third party claims.
Assets exposure is one that is managed with financed and one can also use controlled method to reduce risk or damages to assets.
Personnel Exposures and Consequential Loss Exposure is one that should be manage by controlled method. Employees safety should be paramount and the use of safety equipment is advisable. The use and care for business property should be vital and one can still use finance to settle Consequential Loss Exposure.
The loss in the plantation due to ethnicity was managed satisfactorily as they use the best risk management technique for it and also settle it through controlled and Financial method.
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Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,300 for direct materials, $8,600 for direct labor, and $5,848 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $4,300 for direct materials and $5,400 for direct labor.
Required:
Calculate the overhead cost be added to Job W at year-end.
Answer:
Allocated MOH= $3,672
Explanation:
Giving the following information:
Job V:
DM= $6,300
DL= $8,600
Overhead= $5,848
Job W:
DM= $4,300
DL= $5,400
First, we need to calculate the predetermined overhead rate based on Job V:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
5,848 = Estimated manufacturing overhead rate*8,600
Estimated manufacturing overhead rate= 5,848/8,600
Estimated manufacturing overhead rate= $0.68
Now, the allocated overhead to Job W:
Allocated MOH= 0.68*5,400
Allocated MOH= $3,672
Question 18 of 20
What is one major disadvantage of setting up a business as a corporation?
A. Corporations are subject to more regulations than other
businesses.
B. Corporations are generally unable to raise large amounts of
capital.
C. Corporations make individual shareholders accountable for all
debts.
D. Corporations require one person to make all important decisions.
Answer: C
Explanation:
Corporation’s make individual shareholders accountable for all debts
Cori's Corporation, has a book value of equity of $14,130. Long-term debt is $8,150. Net working capital, other than cash, is $2,140. Fixed assets are $19,470 and current liabilities are $1,760.
How much cash does the company have?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
What is the value of the current assets?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.
Answer: To calculate the amount of cash that the company has, we need to use the accounting equation:
Assets = Liabilities + Equity
We can rearrange this equation to solve for assets:
Assets = Liabilities + Equity
Assets = Long-term debt + Net working capital, other than cash + Fixed assets + Current liabilities + Book value of equity
Assets = $8,150 + $2,140 + $19,470 + $1,760 + $14,130
Assets = $45,650
Now, to find the amount of cash the company has, we need to subtract all the other assets from the total assets:
Cash = Assets - (Long-term debt + Net working capital, other than cash + Fixed assets)
Cash = $45,650 - ($8,150 + $2,140 + $19,470)
Cash = $15,890
Therefore, the company has $15,890 in cash.
To find the value of the current assets, we can add the net working capital, other than cash, to the current liabilities:
Current assets = Net working capital, other than cash + Current liabilities
Current assets = $2,140 + $1,760
Current assets = $3,900
Therefore, the value of the current assets is $3,900.
Costs that can be influenced by management at a specific level of management are called
Oa. direct costs
Ob. noncontrollable costs
Oc. controllable costs
Od. variable costs
The controllable costs are the costs that can be influenced by management at a specific level of management.
What are controllable costs?These are the types of costs over which an organization or company have full authority.
This type of cost has to do with a companies marketing budgets and its costs of labor.
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9. If the Federal wants to decrease the target rate range for the federal funds rate then it will set the IROB _________________ the Federal Funds Rate.
a. above
b. below
Answer:
Below
Explanation:
If the Federal wants to decrease the target rate range for the federal funds rate then it will set the IROB below the Federal Funds Rate. Thus, option B is correct.
The Federal Open Market Committee (FOMC)'s target interest rate range is referred to as the "federal funds rate" in this context. The rate at which commercial banks overnight lend and borrow each other's surplus reserves is the aim.
The FOMC, the Federal Reserve System's decision-making body, convenes eight times a year to determine the target federal funds rate, a component of its monetary policy. This aids in promoting economic expansion.
Short-term interest rates on credit cards and consumer loans can be influenced by the federal funds rate. Because it affects the stock market, investors also keep a watch on the federal funds rate.
Therefore, option B is the ideal selection.
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briefly explain how undertaking of agricultural modernisation is reducing open - urban employment
Suppose that you have purchased a 3-year zero-coupon bond with face value of $1000 and a price of $850. If you hold the bond to maturity, what is your annual return?
Answer:
Explanation: In this situation, our profits would be $150 ($1000-$850). The total return on investment is 17.65% ($150/$1000) for the life of the bond.
Therefore, the annual return, is simply 1/3 of 17.65%, which equals 5.88%.
If you have purchased a 3-year zero-coupon bond with face value of $1000 and a price of $850 and if you hold the bond to maturity, the annual return is simply 1/3 of 17.65% ,which equals 5.88%
What is zero-coupon bond?A zero-coupon bond is a bond that pays no interest and trades at a discount to its face value. It also called a pure discount bond or deep discount bond.
A zero-coupon bond is also known as accrual bond.
U.S. Treasury bills are an example of Zero-Coupon bond.
What is face value? Face value is an actual value of the digit in a number.Face value is the price that is printed on something.What is bond to maturity?A bond to maturity, is usually set when it is issued. Bond maturities can range from one day to 100 years, but the majority of bond maturities range from one to 30 years. Bonds are often referred to as being short-, medium- or long-term.
What is annual return?The annual return is the return that an investment provides over a period of time. it's a record of publicly available information about your company that appears on the Companies Register.
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Which of the following is a fixed asset for a business?
A. Bicycle for private use
B. Washing machine for restate
C. Motor car for family use
D. Motor lorry for delivery of goods
Answer:
D. Motor lorry for delivery of goods
Explanation:
Business assets are valuable used to generate revenue for the business. Assets can be classified as either current or fixed assets. Currents assets can be converted to cash with relative ease.
Fixed assets have a lifespan exceeding one year. Usually, a business will not dispose of its fixed assets in the current financial period. Fixed assets remain constant in a period and are used in the production process.
From the list provided, lorry is the fixed asset. It is being used to deliver goods, hence assisting in generating revenue. The lorry has a lifespan exceeding one year and is not meant for sale.
. Define corporate-level strategy. What are the different levels of diversification firms
can pursue by using different corporate-level strategies?
Answer:
Tipos de diversificación empresarial
Explanation:
°Inversión propia. Constituye la fórmula de diversificación más seguida, puesto que supone echar mano de los recursos propios a la hora de intentar conquistar nuevos espacios productivos y clientes.
°Adquisición total o parcial de una empresa.
°Diversificación relacionada.
°Diversificación no relacionada.
1
In addition to their criminal activities, what is another way in which street gangs MOST often pose a threat to society?
OA. making crime look glamorous on television shows
OB.
hurting bystanders during conflicts with rival gangs
O c.
causing accidents on the road with other bikers
OD. committing drug-related crimes around the world
Answer:
In addition to their criminal activities, the way in which street gangs MOST often pose a threat to society is by hurting bystanders during conflicts with rival gangs. Gang violence can result in innocent bystanders being injured or killed, causing fear and instability in affected communities. While gang-related media can glorify and romanticize gang culture, it is not the most common way in which street gangs pose a threat to society. Street gangs may also be involved in drug-related crimes and other illicit activities that can have harmful effects on individuals and communities, both locally and globally. However, direct violence towards innocent bystanders is the most pressing concern.
help please!
A firm has costs of $1,000,000 for new investment outlays that are subject to an investment tax credit. The stated government purpose of having this investment tax credit is to stimulate the firm's business investments. Suppose the investment tax credit rate is 30%. How much does this reduce the cost of purchasing the assets? Assume an 8% rate of borrowing and a corporate tax rate of 40%.
ANSWER: The tax credit serves to immediately reduce the costs. The savings is 10% of one million dollars or $100,000r eduction in the purchase.