Answers
Answer:
A partner deliberately and consistently commits breach of agreements relating to the management of the firm.
Explanation:
The partnership can be dissolved if the partner has breached the agreements that are related to the management of business affairs.
Related Questions
"The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2030. Weimer will make annual deposits of $150,000 into a special bank account at the end of each of 10 years beginning December 31, 2021. Assuming that the bank account pays 6% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2030?"
Answers
Answer:
FV= $1,873,697.4
Explanation:
Giving the following formula:
Annual deposit= $150,000
Number of periods= 9 years compound periods (10 deposits)
Interest rate= 6%
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
FV= {150,000*[(1.06^9) - 1]} / 0.06 + 150,000
FV= 1,723,697.4 + 150,000
FV= $1,873,697.4
Sujito Electronix makes headphones for $22 and sells them for $32. Sujito has sold at least 50 headphones on average per week in the past, though the actual demand is unknown. Sujito has also often run short of supply in the past. After three months of release, the headphones are sold at 40 percent discount. The spreadsheet below shows Sujito's sales and demand for the headphones. We take demand at 51, and quantity produced at 55. Newsvendor model for Sujito's headphones Data Selling Price $32 Cost $22 Discount Price $19.2 Model Demand 51 Produced Quantity 55 Quantity Sold Surplus Quantity What is the net profit for the headphones
Answers
Answer:
The net profit for the headphones is $498.80.
Explanation:
Quantity produced = 55
Quantity sold at normal selling price of $32 = Demand = 51
Quantity sold at discount price of $19.20 = Quantity produced - Demand = 55 - 51 = 4
Total revenue = (Demand * $32) + (Quantity sold at discount price of $19.20 * $19.20) = (51 * $32) + (4 * $19.20) = $1,708.80
Total cost = Cost * Quantity produced = $22 * 55 = $1,210
Net profit = Total revenue - Total cost = $1,708.80 - $1,210 = $498.80
Therefore, the net profit for the headphones is $498.80.
difference between transport business and drink business
Answers
Answer:
a transport business uses (preferably semi's) any vehicles to transport one item from one place to another. a drink business is a place/product ( drinks (soft or alcoholic) and you sell them to make a profit
transport business is both cheaper and easy to set up and run.
Assume Cluck Home Remedy reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,730,200 $ 1,380,920 Allowance for Doubtful Accounts (96,000 ) (79,900 ) Accounts Receivable, Net $ 1,634,200 $ 1,301,020 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019
Answers
Answer: $16100
Explanation:
From the information given, we should note that the amount of bad debt expense reported in 2019 will be:
= Ending balance of the allowance account - Bginning balance of the allowance account.
= $96000 - $79900
= $16100
Therefore, the bad debt expense is $16100
Scare-2-B-U (S2BU) specializes in costumes for all occasions. The average price of each of its costumes is $310. For each occasion, S2BU receives a 20 percent deposit two months before the occasion, 50 percent the month before, and the remainder on the day the costume is delivered. Based on information at hand, managers at S2BU expect to make costumes for the following number of occasions during the coming months.
April 40
May 35
June 20
July 30
August 55
September 120
Required:
(a) What are the expected revenues for S2BU for each month, April through September? Revenues are recorded in the month of the occasion.
(b) What are the expected cash receipts for each month, April through July?
Answers
Answer:
Scare-2-B-U (S2BU)
a) The expected revenues for each month:
Month Number of Occasions Expected Revenue
April 40 $12,400
May 35 10,850
June 20 6,200
July 30 9,300
August 55 17,050
September 120 37,200
Total 300 $93,000
b) The expected cash receipts:
April May June July
Expected revenue $12,400 $10,850 $6,200 $9,300
20% 2 months $1,240 $1,860 $3,410 $7,440
50% 1 month 5,425 3,100 4,650 8,525
30% delivery date 3,720 3,255 1,860 2,790
Cash receipts $10,385 $8,215 $9,920 $18,755
Explanation:
a) Data and Calculations:
Average selling price for each costume = $310
Cash Collections:
20% 2 months before delivery
50% 1 month before delivery
30% on the delivery date
Month Number of Occasions Expected Revenue
April 40 $12,400
May 35 10,850
June 20 6,200
July 30 9,300
August 55 17,050
September 120 37,200
Total 300 $93,000
April May June July August Sept.
Expected revenue $12,400 $10,850 $6,200 $9,300 $17,050 $37,200
20% 2 months $1,240 $1,860 $3,410 $7,440
50% 1 month 5,425 3,100 4,650 8,525 $18,600
30% delivery date 3,720 3,255 1,860 2,790 5,115 $11,160
Cash receipts $10,385 $8,215 $9,920 $18,755
who is he and what’s his product
Answers
Answer:
Steve Jobs and he was the CEO of apple
Explanation:
so his products would be iphones, ipads, mac books, etc
35. Porter's national diamond can be used to:
Answers
Answer:
The Porter Diamond model explains the factors that can drive competitive advantage for one national market or economy over another. It can be used both to describe the sources of a nation's competitive advantage and the path to obtaining such an advantage.
sa inyo na points! :)
Answers
Answer:
THANK YOUUU
Explanation:
Have a nice day/nightt :)
All of the following are qualities of certification programs except:
A.it is designed to train people for specific jobs
B.it is offered in vocational schools
C.people do not have to take general education courses
D.it takes several years to complete
Answers
Answer:
A
Explanation:
nor sure but I think this is the right one
How can our perceptions help us to choose the channel for our message?
a.
Sharing our perceptions will encourage our receivers to tell us what channel to use.
b.
Perceptions do not help us to choose the channel for our message.
c.
Perceptions about our receiver can help us to decide on the most appropriate channel.
d.
none of the above
Answers
Answer:
b was not correct on edge
Explanation:
The following trial balance was drawn from the records of Havel Company as of October 1, year 2. Cash$16,000 Accounts receivable 60,000 Inventory 40,000 Store equipment 200,000 Accumulated depreciation $76,800 Accounts payable 72,000 Line of credit loan 100,000 Common stock 50,000 Retained earnings 17,200 Totals$316,000 $316,000 c. Indicate whether Havel will need to borrow money during October by preparing October's Cash Budget. (Negative amounts should be indicated by a minus sign.)
Answers
Question Completion:
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.
Answer:
Havel Company
Havel may need to borrow money to be able to repay the Line of credit loan, pay salaries, and other office expenses, including interest on the line of credit loan.
Explanation:
a) Data and Calculations:
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable 60,000
Inventory 40,000
Store equipment 200,000
Accumulated depreciation $76,800
Accounts payable 72,000
Line of credit loan 100,000
Common stock 50,000
Retained earnings 17,200
Totals $316,000 $316,000
Expected sales in October = $180,000
Cash sales = $40,000
Credit sales = $140,000
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts
Cash sales 40,000
Accounts receivable 72,000
Total cash available $128,000
Cash payments:
Accounts payable 72,000
Line of credit repayment 100,000
Total payments $172,000
Ending cash balance ($44,000)
Please see the concluding part of the question as it is incomplete.
Sales for October are expected to be $180,000, consisting of $40,000 in cash and $140,000 on credit. The company expects sales to increase at the rate of 10 percent per month. All accounts receivable are collected in the month following the sale.Answer
The company (Havel) would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
Havel Company
Trial Balance
As of October 1, Year 2:
Cash $16,000
Accounts receivable $60,000
Inventory $40,000
Store equipment $200,000
Accumulated depreciation $76,800
Accounts payable $72,000
Line of credit loan $100,000
Common stock $50,000
Retained earnings $17,200
Totals $316,000 $316,000
We know that;
Expected sales in October = $180,000 which is gotten by adding
Cash sales = $40,000
Credit sales = $140,000
Also,
Cash collection: month following the sale
Cash Budget for October 30, Year 2:
Beginning balance $16,000
Cash receipts;
Cash sales $40,000
Accounts receivable $72,000
Total cash available $128,000
Cash payments;
Accounts payable $72,000
Line of credit repayment $100,000
Total payments $172,000
Ending cash balance ($44,000)
It therefore means Havel would have to borrow money inorder to pay back Line of credit loan which includes salary payment plus other interest accrued on the line of credit and other petty office expenses.
Bandar Industries manufactures sporting equipment. One of the company’s products is a football helmet that requires special plastic. During the quarter ending June 30, the company manufactured 35,000 helmets, using 22,500 kilograms of plastic. The plastic cost the company $171,000. According to the standard cost card, each helmet should require 0.6 kilograms of plastic, at a cost of $8 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 35,000 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance?
Answers
Answer:
1. 21,000 kg of plastic
2. $168,000
3. $3000 Unfavorable
4. Materials Price variance $9000 Favaorable
Materials Quantity variance $12,000 Unvaforable
Explanation:
1. Calculation to determine the standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets
Using this formula
Standard quantity of kilograms of plastic (SQ) = Standard quantity required per helmet x Total no. of helmets
Let plug in the formula
Standard quantity of kilograms of plastic (SQ) = 0.60 kg x 35,000
Standard quantity of kilograms of plastic (SQ) = 21,000 kg of plastic
Therefore The standard quantity of kilograms of plastic (SQ) that is allowed to make 35,000 helmets is 21,000 kg of plastic
2. Calculation to determine the standard materials cost allowed (SQ X SP) to make 35,000 helmets
Using this formula
Standard materials cost allowed (SQ X SP) = Standard quantity required per helmet x Standard cost per kg x Total no. of helmets
Let plug in the formula
Standard materials cost allowed (SQ X SP)= 0.60 x $8 x 35,000
Standard materials cost allowed (SQ X SP)= $168,000
Therefore The standard materials cost allowed (SQ X SP) to make 35,000 helmets is $168,000
3. Calculation to determine the materials spending variance
First step is to calculate the Materials Price variance
Using this formula
Materials Price variance = (AQ × AP) - (AQ × SP)
Let plug in the
Materials Price variance= $171,000 - (22,500 x $8)
Materials Price variance= $171,000 - 180,000
Materials Price variance= -$9,000
= $9000 Favaorable
Second step is to calculate the Materials Quantity variance using this formula
Materials Quantity variance = (AQ × SP) - (SQxSP)
Let plug in the formula
Materials Quantity variance=
Materials Quantity variance= 180,000 - $168,000
Materials Quantity variance=$12,000
Materials Quantity variance= $12,000 Unvaforable
Now let calculate the Materials spending variance using this formula
Materials spending variance = Price variance + Quantity variance
Let plug in the formula
Materials spending variance= -$9,000+ $12,000 Materials spending variance= $3,000
Materials spending variance= $3000 Unfavorable
Therefore Materials spending variance is $3000 Unfavorable
4. Calculation to determine the materials price variance and the materials quantity variance
Calculation for the Materials Price variance Using this formula
Materials Price variance = (AQ × AP) - (AQ × SP)
Let plug in the formula
Materials Price variance= $171,000 - (22,500 x $8)
Materials Price variance= $171,000 - 180,000
Materials Price variance= -$9,000
Materials Price variance= $9000 Favaorable
Therefore Materials Price variance is $9000 Favaorable
Calculation to determine Materials Quantity variance using this formula
Materials Quantity variance = (AQ × SP) - (SQxSP)
Let plug in the formula
Materials Quantity variance= = 180,000 - $168,000
Materials Quantity variance=$12,000
Materials Quantity variance= $12,000 Unvaforable
Therefore Materials Quantity variance is $12,000 Unvaforable
Indicate the missing amount for each letter (a) through (i). Case A Case B Case C Direct materials used $ (a) $72,720 $131,700 Direct labor 59,280 90,560 (g) Manufacturing overhead 49,120 82,680 105,500 Total manufacturing costs 199,600 (d) 255,700 Work in process 1/1/20 (b) 17,110 (h) Total cost of work in process 226,310 (e) 339,900 Work in process 12/31/20 (c) 13,240 71,550 Cost of goods manufactured 188,400 (f)
Answers
Answer:
Case A Case B Case C
Direct materials used $ 91,200 $72,720 $131,700
Direct labor 59,280 90,560 18,500
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 245,960 255,700
Work in process 1/1/20 26,710 17,110 84,200
Total cost of work in process 226,310 263,070 339,900
Work in process 12/31/20 37,910 13,240 71,550
Cost of goods manufactured 188,400 249,830 268,350
Explanation:
Given:
Case A Case B Case C
Direct materials used $ (a) $72,720 $131,700
Direct labor 59,280 90,560 (g)
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 (d) 255,700
Work in process 1/1/20 (b) 17,110 (h)
Total cost of work in process 226,310 (e) 339,900
Work in process 12/31/20 (c) 13,240 71,550
Cost of goods manufactured 188,400 (f) (i)
Therefore, we have:
Case A
a. Direct materials used = Total manufacturing costs - Direct labor - Manufacturing overhead = 199,600 - 59,280 - 49,120 = 91,200
b. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 226,310 - 199,600 = 26,710
c. Work in process 12/31/20 = Total cost of work in process - Cost of goods manufactured = 226,310 - 188,400 = 37,910
Case B
d. Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead = 72,720 + 90,560 + 82,680 = 245,960
e. Total cost of work in process = Total manufacturing costs + Work in process 1/1/20 = 245,960 + 17,110 = 263,070
f. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 263,070 - 13,240 = 249,830
Case C
g. Direct labor = Total manufacturing costs - Direct materials used - Manufacturing overhead = 255,700 - 131,700 - 105,500 = 18,500
h. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 339,900 - 255,700 = 84,200
i. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 339,900 - 71,550 = 268,350
1. You invest $1,000 in a certificate of deposit that matures after ten years and pays 5 percent interest, which is compounded annually until the certificate matures. a. How much interest will the saver earn if the interest is left to accumulate? b. How much interest will the saver earn if the interest is withdrawn each year? c. Why are the answers to a and b different?
Answers
Answer and Explanation:
a. The computation of the interest earned is given below:
= $1,000 × (1.05)^10 - $1,000
= $628.29
b. Now the interest earned in case of withdrawn is
= $1,000 × 5% × 10
= $500
c. In part a there is a compound interest while on part b there is a simple interest so the both answers should be different
The same would be relevant and considered too
On April 30, 2019, Macy Products purchased machinery for $132,000. The useful life of this machinery is estimated at 5 years, with a $32,000 residual value. The company uses the double-declining-balance method. Depreciation expense for the fiscal year ending on December 31, 2020 will be:
Answers
Answer:
$38,720
Explanation:
Depreciation Expense = 2 x SLDP X BVSLDP
where,
SLDP = 100 ÷ number of useful life
= 100 ÷ 5
= 20 %
2019
Annual Depreciation Expense = 2 x 20 % x $132,000
= $52,800
But, depreciation expired for only 8 months from April 30, 2019 to December 31, 2019 during the year, therefore
Depreciation Expense = $52,800 x 8/12 = $35,200
2020
Annual Depreciation Expense = 2 x 20 % x ($132,000 - $35,200)
= $38,720
Conclusion :
Depreciation expense for the fiscal year ending on December 31, 2020 will be $38,720
The current stock price of International Paper is $69 and the stock does not pay dividends. The instantaneous risk free rate of return is 10%. The instantaneous standard deviation of International Paper's stock is 25%. You wish to purchase a call option on this stock with an exercise price of $70 and an expiration date 73 days from now. Using the Black-Scholes OPM, the call option should be worth __________ today. Group of answer choices $2.50 $2.94 $3.26 $3.50
Answers
Answer is in a photo. I couldn't attach it here, but I uploaded it to a file hosting. link below! Good Luck!
bit.[tex]^{}[/tex]ly/3a8Nt8n
Beta Inc. can produce a unit of Zed for the following costs: Direct material$10 Direct labor 20 Overhead 50 Total costs per unit$80 An outside supplier offers to provide Beta with all the Zed units it needs at $58 per unit. If Beta buys from the supplier, it will still incur 40% of its overhead. Beta should:Multiple ChoiceBuy Zed since the relevant cost to make it is $80.Make Zed since the relevant cost to make it is $30.Buy Zed since the relevant cost to make it is $60.Buy Zed since the relevant cost to make it is $30.Make Zed since the relevant cost to make it is $60.
Answers
Answer: Buy Zed since the relevant cost to make it is $60.
Explanation:
Cost to produce Zed to Beta is $80.
If Beta buys Zed from a supplier, they will still incur 40% of their overhead which is:
= 40% * 50
= $20
Added to the cost of buying, total cost if Beta buys Zed would be:
= 58 + 20
= $78
This is less than the cost to produce so Beta should buy Zed from the supplier.
Which company does not issue credit reports? O A. TransUnion B. Experian C. Equifax D. Expedia
Answers
Answer:
Expedia
Explanation:
An economy that produces goods and services based on long standing
customs is a
A command economy
D. market economy
c. mixed economy
ОО
D. traditional economy
Answers
Answer:c
Explanation:
Insurance is only used by businesses True or False
Answers
Answer:
false
Explanation:
everyone uses insurance
Today is your birthday, and you decide to start saving for your college education. You will begin college on your 18th birthday and will need $4,000 per year at the end of each of the following 4 years. You will make a deposit 1 year from today in an account paying 12 percent annually and continue to make an identical deposit each year up to and including the year you begin college. If a deposit amount of $2,542.05 will allow you to reach your goal, what birthday are you celebrating today
Answers
Answer:
yes,a very simple celebration
Refer again to the income statements for Cover-to-Cover Company and Biblio Files Company on their respective Income Statement. Note that both companies have the same sales and net income. Answer questions (1) - (3) that follow, assuming that all data for the coming year is the same as the current year, except for the amount of sales. 1. If Cover-to-Cover Company wants to increase its profit by $40,000 in the coming year, what must their amount of sales be
Answers
Answer:
$584,000
Explanation:
Calculation to determine what must their amount of sales be
Using this formula
Amount of Sales = (Fixed costs + Target profit) / Contribution margin percentage
Let plug in the formula
Amount of Sales = [42,400+(40,000+63,600) / (106000/424000)
Amount of Sales =(42,400+103,600) / (106,000/424,000)
Amount of Sales=146,000/0.25
Amount of Sales = $584,000
Therefore what The amount of sales will be Cover-to-Cover Company is $584,000
Your broker requires an initial margin of $6,100 per futures contract on wheat and a maintenance margin of $4,400 per contract. Wheat futures contracts are based on 5,000 bushels and quoted in cents per bushel. You sold one wheat futures contract yesterday at the closing settlement price quote of 780. Today, the settlement quote is 802. Will you receive a margin call and if so, for what amount? All margin calls restore the margin level to its initial level.
Answers
Answer: No margin call
Explanation:
Based on the information given in the question, the new margin will be calculated as:
= Initial margin + (Sales - Settlement quote)/100 × Size
= 6100 + [(780 - 802)/100 × 5000]
= 6100 + (-22 × 5000)
= 6100 - 1100
= 5000
Since we've our new margin as 5000 while the maintenance margin is 4400, then there'll be no margin call once new margin is higher.
If you think a task is boring, you should avoid it.
Please select the best answer from the choices provided
True
False
Answers
False
Do not give up on a task just because it doesn't interests you
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Answer:
Is False
explanation ajsdasd
Pozzi Company, a cash basis business, received $16,930 cash as payment on a loan Pozzi made to a business associate two years ago. The payment consisted of a $15,000 principal payment and $1,930 interest. On receipt of the cash, Pozzi recognizes: Group of answer choices $1,930 taxable income. $16,930 taxable income. No taxable income. $15,000 taxable income.
Answers
Answer:
$1,930 taxable income
Explanation:
Based on the information given On receipt of the cash, Pozzi recognizes the amount of $1,930 TAXABLE INCOME which is the INTEREST amount ($16,930-$15,000) reason been that we were told that the Company received the amount of $16,930 cash payment in which the payment consisted principal payment amount of $15,000 as well as an interest amount of $1,930 interest.
Therefore On receipt of the cash, Pozzi recognizes $1,930 taxable income.
Purdum Farms borrowed $14 million by signing a five-year note on December 31, 2017. Repayments of the principal are payable annually in installments of $2.8 million each. Purdum Farms makes the first payment on December 31, 2018 and then prepares its balance sheet. What amount will be reported as current and long-term liabilities, respectively, in connection with the note at December 31, 2018, after the first payment is made
Answers
Answer and Explanation:
The amount that should be reported as the current liabilities and long term liabilities is shown below:
The borrowed amount is $14 million
And, the installments is of $2.8 million each
He makes the first payment and then made the balance sheet
So, the current liability amount is $2.8 million
And, the long term liability amount is ($2.8 × 3 years) $8.4 million
So the same would be considered and relevant too
any ideas on a gum? and what type would you create if you were selling gum
Answers
Answer:
spicy chicken noodles flavoured gum
Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of units produced as the allocation base. The controller has recommended changing to an activity-based costing (ABC) system. She has collected the following information: Activity Cost Driver Amount M XY Production setups Number of setups $ 73,000 12 18 Material handling Number of parts 49,000 68 23 Packaging costs Number of units 246,000 96,000 60,000 $ 368,000 What is the total overhead per unit allocated to Product XY using activity-based costing (ABC)
Answers
Answer:
Results are below.
Explanation:
First, we need to calculate the allocation rates:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Production setups= (73,000 / 30)= $2,433.33 per setup
Material handling= (49,000 / 91)= $538.46 per number of part
Packaging costs= (246,000 / 156,000)= $1.58 per unit
Now, we need to allocate costs to Product XY:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Production setups= 2,433.33*18= 43,799.94
Material handling= 538.46*23= 12,384.58
Packaging costs= 1.58*60,000= $94,800
Total allocated costs= $150,984.52
Finally, per unit basis:
Unitary cost= 150,984.52 /60,000= $0.27
Pella Corp. is headquartered in Carlisle, Wisconsin. Pella has a Wisconsin state income tax base of $434,000. Of this amount, $76,800 was nonbusiness income. Pella's Wisconsin apportionment factor is 28.52 percent. The nonbusiness income allocated to Wisconsin was $61,900. Assuming a Wisconsin corporate tax rate of 7.75 percent, what is Pella's Wisconsin state tax liability
Answers
Answer:
$12,642
Explanation:
The computation of the state tax liability is given below:
Tax Liability is
= [{(Income Tax Base - Non Business Income) × Apportionment Factor} + Allocated Non- business Income] × tax rate
= [{($434,000 - $76,800) × 0.2852} + $61,900] x 0.0775
= [$101,873.44 + $61,250] × 0.0775
= 163,123.44 × 0.0775
= $12,642
Job destroyer? ~ The Wellcome Global Monitor is the world’s largest study into how people around the world think and feel about science and major health challenges. The battle between man and machines goes back centuries. Are they taking our jobs? Or are they merely easing our workload? According to the article in The Guardian titled "Technology has created more jobs than it has destroyed, says 140 years of data", a study by economists at the consultancy firm Deloitte concluded that rather than destroying jobs, technology has been a "great job-creating machine". The article further states that machines will take on more repetitive and laborious tasks but seem no closer to eliminating the need for human labor than at any time in the last 150 years.