A stock you own earned: $200, $500, $100, and $700 over the last four years. What was the mean annual gain in value over the four years?

Answers

Answer 1

Answer:

$375

Explanation:

200+500+100+700= 1,500

1,500/4=375

Answer 2

Answer:

The answer is $375 (B)

Explanation:

First, add all the numbers (200, 500, 100, 700) to get 1,500

Divide by the mean which is 4 (1500/4)

Here's your answer $375 (B)

Hope this helps!


Related Questions

Calculate the Social Security and Medicare deductions for the following employee (assume a tax rate of 6.2% on $128,400 for Social Security and 1.45% for Medicare): (Round your answers to the nearest cent.)

Answers

Answer:

Social Security tax = $7,960.80

Medicare tax = $1,861.80

Explanation:

Let's begin by listing out the information given:

Social Security tax rate = 6.2%,

Medicare tax rate = 1.45%,

Income = $128,400

To calculate for the deductions(tax), we use the formula:

Tax = Tax rate * Income

For Social Security

Tax = Tax rate * Income

Tax = 6.2% * $128,400

T = 0.062 * $128,400

T = $7,960.80

∴ $7,960.80 of the employee's income is deducted for Social Security tax

For Medicare

Tax = Tax rate * Income

Tax = 1.45% * $128,400

T = 0.0145 * $128,400

T = $1,861.80

∴ $1,861.80 of the employee's income is deducted for Medicare tax

A chain of supermarkets specializing in gourmet food, has been using the average cost method to value its inventory. During the current year, the company changed to the first-in, first-out method of inventory valuation. The president of the company reasoned that this change was appropriate since it would more closely match the flow of physical goods. This change should be reported on the financial statements as A. Change in accounting estimate. B. Affecting only future periods. C. Cumulative-effect type accounting change. D. Correction of an error.

Answers

Answer: Affecting only future periods.

Explanation:

From the question, we are informed that a chain of supermarkets specializing in gourmet food, that has been using the average cost method to value its inventory changed to the FIFO method in the current year.

This change should be reported on the financial statements as a retroactive effect type of an accounting change. This is necessary because it affects future period and in order to maintain comparability and consistency.

Use the In the News to answer three questions
IN THE NEWS Treasury Prices Fall with Improved Expectations Expectations of accelerated economic growth continue to boost yields on Treasury securities. The price of the Treasury's 2.0 percent 10-year bond fell $17.43 yesterday, from $843.88 to $826.45. The decline in the price of the treasury pushed the yield up from 2.37 percent to 2.42 percent. The 30-year bond also declined, increasing the yield from 2.96 to 3.00. Source: Market reports of January 6, 2017, What would the yield be on the 2.0 percent, $1,000, 10-year Treasury bond if the market price of the bonds were Instructions: Round your responses to two decimal places.
a. $1,000?
b. $800?
c. $1,200?

Answers

Answer:

2%

2.5%

1.67%

Explanation:

The yield can be computed using the yield formula which coupon payment divided by price.

The coupon payment=face value*coupon rate

face value is $1000

coupon rate is 2%

coupon payment=2%*$1000=$20

when price is $1000:

yield =$20/$1000=2%

when price is $800

yield=$20/$800=2.5%

when price is $1,200

yield =$20/$1,200=1.67%

In essence ,the lower the price the higher the yield as lower amount is invested in order to receive the same amount of annual coupon of $20

Insect control devices must and be able to retain the electrocuted insects inside the device

Answers

Answer:

Be rated for safety by the USDA

Explanation:

Presence of insect pest around areas of food production poses a lot of risk such as contamination of food which might impact negatively on public health. However, in an attempt to control these insect pests, the problem of food contamination as a result of insect infestation that we're trying to solve might still be increased if safety measures are not strictly adhered to when manufacturing and using insect control devices.

Hence, it is necessary and of utmost importance that insect control devices must be rated for safety by USDA to ensure compliance with laid down measures and protocols for safe control of insect without contamination of food.

(5). The variance of Stock A is .005, the variance of the market is .008 and the covariance between the two is .0026. What is the correlation coefficient

Answers

Answer:

0.4110

Explanation:

The formula and computation of the correlation coefficient is shown below:

Correlation co-efficient = Covariance ÷ (Standard deviation of market × Standard deviation of Stock A)

where,

Covariance between the two = 0.0026

Variance of the stock A = 0.005

And, the variance of the market is 0.008

Now placing these values to the above formula

So, the correlation coefficient is

= 0.0026 ÷ (0.008 × 0.005)^0.50

= 0.0026 ÷ 0.006324555

= 0.411096096

= 0.4110

Hence, the correlation coefficient is 0.4110

The following is a description of the conversion cycle of Central Production Limited:
The conversion cycle of the company is triggered by a report from the warehouse. When the quantity of an inventory item falls below a pre-set minimum level, the warehouse manager sends an online inventory status report to production department advising them to schedule a production batch run for the item.
Upon receipt of the report, the production clerk assesses the digital bill of materials and the route sheet files for the item to be produced and adds the production details to the online production schedule.
The system automatically adds a record to the open work order file and sends an online work order to the work centre supervisor’s computer and to the accounting clerk’s computer.
The work centre supervisor receives the work order from his computer and print hard-copy move tickets and materials requisitions for each production process. Production employees take the materials requisitions to store clerk and receives the materials and subassemblies needed to perform the production tasks. If additional materials beyond the standard amount is needed, the work centre supervisor prepares additional materials requisitions.
Production employees complete job time tickets after completing a production process to record the time spent on the job. The job time tickets are then sent together with the move tickets to the accounting department.
After releasing the materials into production, the store clerk updates the material inventory records and send the materials requisitions to accounting department. The clerk prepares a journal voucher and posts to the general ledger material control account at the end of each day.
The accounting clerk assesses the work orders and set up a work-in-process account for a production batch. Throughout the production period, the clerk also receives move tickets, job tickets, and materials requisitions, which he uses to post to the work-in-process account. At the end of each day, the accounting clerk prepares a digital journal voucher and post it to the general ledger work-in- process and finished goods control accounts.
Identify the risks exist in the conversion cycle of Central Production Limited. (10 marks, maximum 300 words)

Answers

Answer: Provided in the explanation section

Explanation:

Conversion Cycle is the cycle which track records for the arrangement of crude material to completed products.  

Here on the best possible perspective all in all of the procedure:  

1. Triger by distribution center dept ( Raw material Keeper)  

2. Produnction chief updates the request to be finished and include further up and coming requests assuming any.  

3.It will produce online request slip and straightforwardly post to chiefs tab + bookkeeper tab  

4. Manager take material and issue to gathering dept ( abundance material necessity is given by his position too)  

5. Time + work both finished card sare sent to Accountanct  

6. When request finished Accountant update the WIP just as Inventory in books.  

Hazard in the Conversion Cycle:  

After receipt of material and charging it to FG as Inventory in books  

- Risk is hindering of assets in overabundance keeping of stock, As material level down after a specific level automatc trigger alternative is set up, which cautions the productin withdraw. to decide the future prerequisite according to the productin request in hands ( Good control set up)  

Second, Online workorder to Supervisior, All chief gets their no. of creation request ( to be finished on the web) - Good control set up  

Third, Supervisor on hand, place the material prerequisite ( and if any overabundance necessity - " NO FURTHER APPROVAL" is made to store representative. here hazard is medium over the demand well beyond the Order indicates by the creation dept.  

Fourthly, creation representatives itself are getting ready thier work tickets ( " NO AUTHENTICATION")- As tickets are finished by creation representatives itself control of information info or its endorsement is inadequate.  

Fifth, Accountant decides himeslef the WIP , FG of the request over the crude information got as employment card, time card, material order Risk is bookkeeper simply need to verifiy the information from the information got from the creation L2 official as opposed to himself keep up the quantities of the activity.  

From above it is anything but difficult to catch the degree of hazard at different level in the above procedure of Central creation Limited.

In a closed system one kilogram of carbon dioxide (CO_2) is expanded reversibly from 30 degree C and 200 kPa to 100 kPa pressure. If the expansion is polytropic with n = 1.27, determine the total work, the change in total internal energy, and the total heat transferred in [kJ], Note that for CO_2, R = 188.9 J/kg.K and c_v = 655 J/kg.K. W = -29.05 kJ, DeltaU = -27.19 kJ, Q = 1.860 kJ

Answers

Answer:

the total work W =  29.05 kJ

the change in total internal energy is [tex]\mathbf{\Delta U = - 27.19 \ kJ}[/tex]

the  total heat transferred in [kJ] is  Q = 1.860 kJ

Explanation:

Given that

mass of carbon dioxide in the closed system = 1 kg

Temperature [tex]T_1= 30 ^0 C[/tex] = (273+30 ) K = 303 K

Pressure [tex]P_1 = \ 200 \ kPa[/tex]

Pressure [tex]P_2 = 100 \ kPa[/tex]

polytropic expansion n = 1.27

Note that we are also given the following data set:

R = 188.9 J/kg.K

c_v = 655 J/kg.K

So; for a polytropic process ; [tex]PV^{1.27} = c[/tex]

[tex]\dfrac{T_2}{T_1}= ( \dfrac{V_1}{V_2})^{n-1} = (\dfrac{P_2}{P_1})^{\frac{n-1}{n}[/tex]

[tex]T_2 = T_1 [\dfrac{P_2}{P_1}]^{\frac{n-1}{n}[/tex]

[tex]T_2 = 303 [\dfrac{100}{200}]^{\frac{1.27-1}{1.27}[/tex]

[tex]T_2 = 261.48 \ K[/tex]

Since the system does not follow the first order of thermodynamics; To calculate the total work by using the expression:

[tex]W = \dfrac{P_1V_1-P_2V_2}{n-1} = \dfrac{mR(T_1-T_2)}{n-1}[/tex]

[tex]W = \dfrac{1*188.9(303-261.48)}{1.27-1}[/tex]

W =  29048.62222 J

W =  29.05 kJ

Thus, the total work W = 29.05 kJ

The change in internal energy can be expressed  by the formula:

[tex]\Delta U = mc_v (T_2-T_1)[/tex]

[tex]\Delta U = 1*655(261.48-303)[/tex]

[tex]\Delta U = -27195.6 \ J[/tex]

[tex]\mathbf{\Delta U = - 27.19 \ kJ}[/tex]

Hence; the change in total internal energy is [tex]\mathbf{\Delta U = - 27.19 \ kJ}[/tex]

Finally; to determine the  total heat transferred in [kJ]; we go by the expression for the first order of thermodynamics which say:

Total Heat Q = ΔU + W

Q = (-27.19 + 29.05)kJ

Q = 1.860 kJ

Hence; the  total heat transferred in [kJ] is  Q = 1.860 kJ

Portman Industries just paid a dividend of $1.68 per share. The company expects the coming year to be very profitable, and its dividend is expected to grow by 20.00% over the next year. After the next year, though, Portman's dividend is expected to grow at a constant rate of 4.00% per year The risk-free rate (Rr) is 5.00%, the market risk premium (RPM) is 6.00%, and Portman's beta is 0.90 Term Value Dividends one year from now (Di Horizon value (P1) Intrinsic value of Portman's stock Assuming that the market is in equilibrium, use the information just given to complete the table What is the expected dividend yield for Portman's stock today? a. 6.15% b. 5.12% c. 6.79% d. 6.40% Now let's apply the results of your calculations to the following situation: Portman has 500,000 shares outstanding, and Judy Davis, an investor, holds 7,500 shares at the current price (computed above). Suppose Portman is considering issuing 62,500 new shares at a price of $26.78 per share. If the new shares are sold to outside investors, by how much will Judy's investment in Portman Industries be diluted on a per-share basis? a. $0.52 per share b. $0.44 per share c. $0.64 per share d. $1.09 per share Thus, Judy's investment will be diluted, and Judy will experience a total:_____.

Answers

Answer:

What is the expected dividend yield for Portman's stock today?

d. 6.40%

Suppose Portman is considering issuing 62,500 new shares at a price of $26.78 per share. If the new shares are sold to outside investors, by how much will Judy's investment in Portman Industries be diluted on a per-share basis?

a. $0.52 per share

Thus, Judy's investment will be diluted, and Judy will experience a total loss of $0.52 x 7,500 = $3,900

Explanation:

cost of equity = Re = risk free rate of return + (Beta × market premium) = 5% + (0.90 x 6%) = 10.4%

dividend in one year = $1.68 x 120% = $2.016

intrinsic stock price = $2.016 / (10.4% - 4%) = $31.50

expected dividend yield = dividend / stock price = $2.016 / $31.50 = 6.4%

Judy's loss per share = ($31.50 - $26.78) x (62,500 / 562,500) = $0.5244

Audio Zone Co. needs to prepare pro forma financial statements for the next fiscal year. To do so, the company must forecast its total overhead cost. The actual machine hours and total overhead cost are presented below for the past six months.
Month Total Overhead Machine Hours
Jan. $6,288 1,980
Feb. 6,460 2,090
Mar. 5,987 1,745
Apr. 5,559 1,560
May 6,032 1,865
June 6,341 2,012
Using the high-low method, total monthly fixed overhead cost is calculated to be:________.

Answers

Answer:

$2,907

Explanation:

the formulas to calculate costs using the high-low method are:

variable cost = (highest activity cost - lowest activity cost) / (highest activity units - lowest activity units) fixed costs = highest activity cost - (variable cost per unit x highest activity units)

variable cost = ($6,460 - $5,559) / (2,090 - 1,560) = $901 / 530 units = $1.70 per unit

fixed costs = $6,460 - ($1.70 x 2,090) = $6,460 - $3,553 = $2,907

Which of the following statements concerning the selection of risk management techniques and insurance market conditions is (are) true? I.It's easier to purchase affordable insurance during a "soft" market than during a "hard" market.II.Retention is used more during a "soft" market than during a "hard" market.I onlyII onlyboth I and IIneither I nor II

Answers

Answer:

I.It's easier to purchase affordable insurance during a "soft" market than during a "hard" market

I only

Explanation:

When a purchaser of insurance wants to make a purchase he analyses the market to get a favourable condition that reduces risk and loss.

The market condition can be a soft market or hard market.

Soft market is one in which potential sellers are more than potential buyers. So supply exceeds demand. Buyers are able to buy affordable insurance.

Hard market on the other hand is when there is an upswing in market cycle. Premiums increase and capacity for insurance decreases.

It is more difficult to get affordable insurance in this market

The following comparative income statement (in thousands of dollars) for the two recent fiscal years was adapted from the annual report of Speedway Motorsports, Inc., owner and operator of several major motor speedways, such as the Atlanta, Texas, and Las Vegas Motor Speedways.
1 Current Year Previous Year
2 Revenues:
3 Admissions $116,034.00 $130,239.00
4 Event-related revenue 151,562.00 163,621.00
5 NASCAR broadcasting revenue 192,662.00 185,394.00
6 Other operating revenue 29,902.00 26,951.00
7 Total revenue $490,160.00 $506,205.00
8 Expenses and other:
9 Direct expense of events $101,402.00 $106,204.00
10 NASCAR purse and sanction fees 122,950.00 120,146.00
11Other direct expenses 18,908.00 20,352.00
12 General and administrative 183,215.00 241,223.00
13 Total expenses and other $426,475.00 $487,925.00
14 Income from continuing operations $63,685.00 $18,280.00
Required:
A. Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions
B. Comment on the significant changes.
Prepare a comparative income statement for these two years in vertical form, stating each item as a percent of revenues. Enter all amounts as positive numbers. Rounding instructions

Answers

Answer:

A)

                    Speedway Motorsports, Inc.

                 Comparative Income statement

                   For the Years 202x and 202x₋₁

                                                              202x                202x₋₁

Total revenue                                   $490,160         $506,205

Admissions                                   23.67%            25.73%Event related                                30.92%           32.32%NASCAR broadcasting                  39.31%           36.63%Other operating revenue                   6.1%             5.32%

Direct expenses:                                    49.63%           48.74%

Direct expense of events             20.69%          20.98% NASCAR purse & sanction fees   25.08%          23.73%Other direct expenses                    3.86%            4.03%

General and administrative                    37.38%          47.65%

Income from continuing operations       12.99%            3.61%

B) The most significant changes are that total revenues actually decreased, but net income from operating activities actually creased both in $ amounts and as % of total revenue. Direct expenses remained at similar levels during both years, even 202x₋₁ direct expenses were lower. But the most significant cost reduction was made on general and administrative expenses which were lowered by almost 10% (compared to total revenues). Only NASCAR broadcasting related revenues increased, while all the other revenues decreased in % and absolute amounts.

The following costs are budgeted for Harlow Corporation for next year: The costs above are based on a level of activity of 20,000 units. Assuming that this activity is within the relevant range, what would total cost per unit be for Harlow if the level of activity was only 18,000 units?

Answers

Answer:

$48.50

Explanation:

Harlow Corporation

First step is to calculate for Variable cost per unit:

Variable cost per unit =

$270,000 ÷ 20,000 units

= $13.50 per unit

Second step is to calculate for the cost function

Cost function :

Y = $630,000 + $13.50X

Y= $630,000 + $13.50(18,000)

Y=$630,000+$243,000

Y = $873,000

Therefore:

Total cost / number of units = total cost per unit$

Total cost =$873,000

Number of units= 18,000

$873,000 ÷ 18,000

= $48.50

Therefore the total cost per unit is $48.50

Oriole Corporation reported the following for 2020: net sales $1,235,200, cost of goods sold $721,800, selling and administrative expenses $338,600, and an unrealized holding gain on available-for-sale debt securities $15,700.

Required:
Prepare a statement of comprehensive income, using (a) the one statement format, and (b) the two statement format. (Ignore income taxes and EPS).

Answers

Answer:

In both formats, net income is equal to $190,500

Explanation:

(a) the one statement format

The single step statement format is an income statement format that shows only one category of income and only one category of expenses. From the question, this can be prepared as follow:

Income = Net sales +  unrealized holding gain on available-for-sale debt securities = $1,235,200 + $15,700 = $1,250,900

Expenses = Cost of goods sold + Selling and administrative expenses = $721,800 + $338,600 = $1,060,400

Oriole Corporation

Statement of comprehensive income

Details                                           Amount ($)

Income                                          1,250,900

Expenses                                      1,060,400

Net income                                     190,500

(b) the two statement format.

The two step statement format is an income statement format that uses two category to separate income accounts based on their function by showing gross profit and other income separately to arrive operating income, and also show selling and administrative expenses on its own. This can be prepared as follows:

Oriole Corporation

Statement of comprehensive income

Details                                                        Amount ($)

Net sales                                                    1,235,200

Cost of goods sold                                    (721,800)

Gross profit                                                  513,400

Other income:

Available-for-sale debt securities gain       15,700

Operating income                                       529,100

Expenses:

Selling and administrative expenses       (338,600)

Net income                                                 190,500  

Imagine that you work in a call center. Your manager tells you that you need to answer 25% more calls per hour. In order to do this, you must spend less time with each caller, and your caller satisfaction scores are going down. By answering more phone calls but providing worse service, you ARE being __________ but NOT ___________.

Answers

Answer:

By answering more phone calls but providing worse service, you ARE being EFFICIENT but NOT SATISFY CUSTOMERS' NEEDS.

Explanation:

A worker's efficiency is measured by the total output per hour of labor. In this case, since you are answering more calls per hour, your efficiency is increasing (higher output per hour).

The quality of the service provided by a worker's is measured by the quality of their output (or performance), and if you satisfy your customers' needs. Since the service that you are providing is not that good, then your quality levels are decreasing.

You may be producing more services, but the services produced lack good quality.

The 2021 income statement of Adrian Express reports sales of $17,262,000, cost of goods sold of $10,624,000, and net income of $1,640,000. Balance sheet information is provided in the following table.
Adrian Express
Balance Sheets
December 31, 2018 and 2017
2018 2017
Assets
Current assets: 510,000 670,000
Cash 1,220,000 910,000
Accounts receivable 1,620,000 1,310,000
Inventory 4,710,000 4,150,000
Long-term assets
Total assets $8,060,000 $7,040,000
Liabilities and Stockholders' Equity
Current liabilities s $1,930,000 $1,570,000
Long-term liabilities 2,270,000 2,310,000
Common stock 1,820,000 1,820,000
Retained earning 2,040,000 1,340,000
Total liabilities and stockholders'
equity $8,060,000 $7,040,000
Industry averages for the following four risk ratios are as follows:
Average collection period 25 days
Average days in inventory 60 days
Current ratio 2 to 1
Debt to equity ratio 50%
Required:
Calculate the four risk ratios listed above for Adrian Express in 2018.

Answers

Answer:

                                                      Industry average       Adrian Express

Average collection period                  25 days                     31 days

Average days in inventory                  60 days                    152 days

Current ratio                                             2                             3.91

Debt to equity ratio                               50%                          109%

Explanation:

Average collection period = (average accounts receivable / total net credit sales) x  365 days = {[(1,620,000 + 1,310,000) / 2] / 17,262,000} x 365 days = 30.98 ≈ 31 days

Average days in inventory = 365 days / inventory turnover

inventory turnover = COGS / average inventory = 10,624,000 / [(4,710,000 4,150,000) / 2] =  2.4

Average days in inventory = 365 days / 2.4 = 152 days

Current ratio = current assets / current liabilities = (cash + accounts receivable + inventory) / $1,930,000 = ($1,220,000 + $1,620,000 + $4,710,000) / $1,930,000 = $7,550,000 / $1,930,000 =3.91

Debt to equity ratio = total liabilities / stockholders' equity =  $4,200,000 / $3,860,000 = 1.09 or 109%    

Which of the following is TRUE regarding journal entries: a) There are always only two accounts affected b) The total amount debited must equal the total amount credited c) Journal entries show debits on the right and credits on the left d) Journal entries show credits first, then debits

Answers

Answer: b) The total amount debited must equal the total amount credited

Explanation:

Journal entries on the debit side must always equal entries on the credit side. This is to fulfil the Accounting requirement of Double Entry where every entry in the books must have an equal and corresponding entry as well.

There can be multiple accounts represented in the journal entry but the amount on the credit side needs to balance with the amount on the debit side.

For example, a good to sold to Hillary by Trump for $30. Trump gives Hillary a discount of 10%. Trump will record that entry as,

DR Cash $27

DR Sales Discount $3

CR Accounts Receivable $30

Notice that the Debit side has 2 accounts but they still add up to the $30 on the Credit side.

The operations manager of a mail order house purchases double (D) and twin (T) beds for resale. Each double bed costs $500 and requires 100 cubic feet of storage space. Each twin bed costs $300 and requires 90 cubic feet of storage space. The manager has $75,000 to invest in beds this week, and her warehouse has 18,000 cubic feet available for storage. Profit for each double bed is $300 and for each twin bed is $150. The manager's goal is to maximize profits.

Required:
What is not a feasible solution?

Answers

Answer:

Please see below for answer

Explanation:

It would not be feasible to invest the entire $75,000 amount on making double beds. Although the profit margin for the double beds is twice that of twin beds, it also requires more storage space and the market demand for double beds may not be as high as the twin beds. Hence, making double beds and ignoring twin beds completely might not make as much profit due to not being sold to begin with.

Universal Containers wants to provide a more consistent service experience to its customers and is evaluating the Service Cloud macro feature. Which three configurations must be made?
A. Users must use Lightning Experience. B. Publisher Actions used in the macros must be on the page layout.C. The Macros widget or utility must be added to the console.D. The Run Macros Permission must be granted to users.E. The Run Macros Action must be on the page layout.

Answers

Answer:

B. Publisher Actions used in the macros must be on the page layout.

C. The macros widget or utility must be added to the console

D. The run Macros permission must be granted to users.

Explanation:

The macros are a function which specifies how an input function should be mapped in the computer software to produce defined output. Macros are used to make tasks less repetitive. The macros can be used in service cloud. To use macros in service cloud the macros permission must be granted to all users, the macros widget must be added to the console and the macros must be on the page layout.

Imperial Jewelers manufactures and sells a gold bracelet for $408.00. The company’s accounting system says that the unit product cost for this bracelet is $268.00 as shown below:

Direct materials $147
Direct labor 85
Manufacturing overhead 36
Unit product cost $268


The members of a wedding party have approached Imperial Jewelers about buying 30 of these gold bracelets for the discounted price of $368.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $452 and that would increase the direct materials cost per bracelet by $9. The special tool would have no other use once the special order is completed.

To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $15.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity.

Required:
a. What is the financial advantage (disadvantage) of accepting the special order from the wedding party?
b Should the company accept the special order?

Answers

Answer:

2352, Yes

Explanation:

a) Incremental Cost = Direct Material cost + Direct labour cost + Filgree + Manufacturing overhead cost  

= 147 + 85 + 9 +  15 = 256

Total additional Cost = 256 x 21 = 5376

Incremental Revenue = 368

Total additional Revenue = 368 x 21 = 7728

Incremental net operating income = Total additional revenue - total additional cost

= 7728 - 5376 = 2352

b) As Incremental net operating income is positive, company is earning from the special order. Yes, it should accept it

 

The relevant costs for a decision to accept the special order are  :

1. Incremental Revenue from the special order  

2. incremental variable cost

3. The cost of the special tool

Unit variable cost = 147+ 85 + 9 + 15 = $256

The balance of manufacturing overhead would be incurred either way. Therefore, they are not relevant for the decision

                                                                                                     

Sales revenue from special order                                                $

(21× $368)                                                                                  7728

The Variable cost of special order                                                $

(21× $256)                                                                                    (5376 )

Financial advantage                                                                     2358

The company should accept the special order, as it will increase its profit by $2352

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Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.
Date Activiies Units Acquired at Cost Units Sold at Recall
Mar. 1 Beginning inventory 60 units $50.20 per unit
Mar. 5 Purchase 205 units $55.20 per unit
Mar. 9 Sales 220 units $85.20 per unit
Mar. 18 Purchase 65 units $60.20 per unit
Mar. 25 Purchase 110 units $62.20 per unit
Mar. 29 Sales 90 units $95.20 units
Total 440 units 310 units
Required:
1. Compute cost of goods available for sale and the number of units available for sale.
2. Compute the number of units in ending inventory.
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) weighted average, and (d) specific identification. For specific identification, units sold consist of 600 units from beginning inventory, 300 from the February 10 purchase, 200 from the March 13 purchase, 50 from the August 21 purchase, and 250 from the September 5 purchase.
4. Compute gross profit earned by the company for each of the four costing methods.

Answers

Answer:

Warnerwoods Company

Perpetual Inventory System:

1. Cost of Goods Available for Sale and Units Available for Sale:

Mar. 1 Beginning inventory     60 units $50.20 per unit      $3,012

Mar. 5 Purchase                   205 units $55.20 per unit        11,316

Mar. 18 Purchase                    65 units $60.20 per unit        3,913

Mar. 25 Purchase                  110 units $62.20 per unit        6,842

Available for Sale                440 units            Cost =      $25,083

2. The number of units in ending inventory:

Units Available for Sale 440

Subtract units sold         310

Ending Inventory          130 units

3. The Cost assigned to ending inventory using:

a) FIFO: Ending Inventory

20 units at $60.20 per unit   = $1,204

110 units at $62.20 per unit  =  6,842

Ending Inventory                    $8,046

b) LIFO: Ending Inventory

Mar. 1 Beginning Inventory 45 units $50.20 per unit = $2,259

Mar. 18 Purchase 65 units $60.20 per unit  =                    3,913  

Mar. 25 Purchase 20 units $62.20 per unit   =                  1,244

Ending Inventory 130 units    Cost  = $7,416

c) Weighted Average: Ending Inventory

Cost of Goods Available for Sale divided by units available for sale

= $25,083/440 = $57 per unit

Ending Inventory = $57 x 130 = $7,410

d) Specific Identification: Ending Inventory

This cannot be answered from the  information provided in the question:

4. Gross Profit for each costing method:

                        FIFO             LIFO         WEIGHTED       SPECIFIC

                                                     AVERAGE        IDENTIFICATION

Sales               $27,312         $27,312         $27,312            $27,312

Cost of Sales    17,037           17,667            17,670

Gross Profit   $10,275          $9,645          $9,642

Explanation:

a) Sales:

Mar. 9 Sales 220 units $85.20 per unit = $18,744

Mar. 29 Sales 90 units $95.20 units   =       8,568

Total = $27,312

b) Cost of Sales:

i) FIFO

Mar 1. Beginning inventory 60 units $50.20 per unit  = $3,012

Mar. 5 Purchase 205 units $55.20 per unit      =            11,316

Mar. 18 Purchase 45 units $60.20                     =            2,709

Cost of Sales = $17,037

ii) LIFO:

Mar. 1 Beginning inventory 15 units $50.20 per unit  = $753

Mar. 5 Purchase 205 units $55.20 per unit   = $11,316

Mar. 25 Purchase 90 units $62.20 per unit   = $5,598

Cost of Sales = $17,667

iii) Weighted Average:

Cost of Sales = $57 x 310 = $17,670

c) Calculations under the specific identification cannot be made because of the figures given under this method.

Cost of goods available for sale =  440 units and $25,071

Number of units in ending inventory is 130 units.

1. The calculation of compute cost of goods available for sale and the number of units available for sale is;

Beginning inventory cost = 60 units x $50.20 = $3,012Purchase on March 5 cost = 205 units x $55.20 = $11,304Purchase on March 18 cost = 65 units x $60.20 = $3,913Purchase on March 25 cost = 110 units x $62.20 = $6,842

Cost of goods available for sale =  440 units and $25,071

2. Number of units in ending inventory:

Units sold = 220 + 90 Units sold = 310 unitsUnits in ending inventory = total available for sale - units sold Units in ending inventory = 440 - 310 = 130 units

Number of units in ending inventory is 130 units.

3. Compute the cost assigned to ending inventory

4. Compute gross profit earned by the company for each of the four costing methods.

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Cash Flow Ratios Tracy Company reports the following amounts in its annual financial statements:_________.
Cash flow from operating activities $90,000 Capital expenditures $31,000*
Cash flow from investing activities (70,000) Average current assets 80,000
Cash flow from financing activities (10,000) Average current liabilities 60,000
Net income 44,000 Total assets 180,000
* This amount is a cash outflow.
a. Compute Tracy's free cash flow.
b. Compute Tracy's operating-cash-flow-to-current-liabilities ratio.
c. Compute Tracy's operating-cash-flow-to-capital-expenditures ratio.

Answers

Answer: a. $59,000. b. 1.5x. c. 2.9x

Explanation:

a) Tracy's Free cash flow will be calculated as:

= Cashflow from operating activities - Capital expenditures

= $90000 - $31000

=$59000

b) Tracy's operating cash flow to current liabilities ratio will be:

Operating cashflow ÷ Current liabilities

= $90000 ÷ $60000

= 1.5x

c) Tracy's operating cashflow to capital expenditures ratio will be:

= Operating cashflow ÷ capital expenditure

= $90000 ÷ $31000

= 2.90x

On July 8, Jones Inc. issued an $62,900, 9%, 120-day note payable to Miller Company. Assume that the fiscal year of Jones ends on July 31. Using the 360-day year, what is the amount of interest expense recognized by Jones in the current fiscal year

Answers

Answer:

The amount of interest expense recognized by Jones in the current fiscal year is $361.675

Explanation:

According to the given data Jones Inc. issued an $62,900, 9%, 120-day note payable to Miller Company On July 8, therefore if the the fiscal year of Jones ends on July 31 there 23 days between July 8 and July 31.

So, to calculate the amount of interest expense recognized by Jones in the current fiscal year we would have to make the following calculation:

Interest expense=$62,900*9%*(23/360)

Interest expense=$361.675

The amount of interest expense recognized by Jones in the current fiscal year is $361.675

The common stock of Buildwell Conservation & Construction Inc. (BCCI) has a beta of .9. The Treasury bill rate is 4%, and the market risk premium is estimated at 8%. BCCI’s capital structure is 30% debt, paying an interest rate of 5%, and 70% equity. The debt sells at par. Buildwell pays tax at 40%.
a. What is BCCI’s cost of equity capital? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.)
Cost of equity capital %
b. What is its WACC? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)
WACC %

Answers

Answer:

Cost of equity is 11.2%

WACC is 8.74%

Explanation:

The formula for cost of equity is given below:

Cost of equity=risk free rate+(Beta *risk premium)

risk free rate is the treasury bill rate of 4%

Beta is 0.9

market risk premium is 8%

cost of equity=4%+(0.9*8%)=11.2%

WACC=Ke*E/V+Kd*D/V*(1-t)

Ke is the cost of equity of 11.2%

Kd is the cost of debt of 5%

t is the tax rate of 40% or 0.4

E is the equity weighting of 70% or 0.7

D is the debt weighting of 30% or 0.3

V is the E+D=0.7+0.3=1

WACC=11.20% *0.7/1+(5%*0.3/1*(1-0.4)

WACC=7.84% +0.90% =8.74%

       

Post the entries in the general journal below to the Accounts Receivable account in the general ledger and to the appropriate accounts in the accounts receivable ledger for Calderone Company.
Assume the following account balances at January 1, 2019
Accounts Receivable (control account) $7,880
Accounts Receivable-John Gibrone 4, 780
Accounts Receivable-Jim Garcia 2,090
Accounts Receivable-June Lin. 1,01
General Journal
Date 2019 Description Post Debit Credit
Ref
Jan 8 Cash 470
Accounts Receivable/John Gibrone 470
Received partial payment or account from John Gibrone
20 Sales Returns and Allowances 300
Sales Tax Payabl 24
Accounts Receivable/3im Garcia 324
Accept return of defective merchandis, Credit
Memorandum 121; original sale
made on Sales S1ip 11102 of
December 27, 2018 1.
Prepare a schedule of accounts recelvable for Calderone Company at January 31, 2019. 2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account in the general ledger at January 31, 2019?

Answers

Answer:

1. Prepare a schedule of accounts receivable for Calderone Company at January 31, 2019.

Since there is not enough room here, I prepared an excel spreadsheet. Since we are not told the credit terms of the sales, I assumed all the sales were more not past due.

2. Should the total of your accounts receivable schedule agree with the balance of the Accounts Receivable account in the general ledger at January 31, 2019?

Of course, the balance of the accounts receivable control account should equal the total balance of the accounts receivable schedule. Even if some accounts are written off (bad debt), both the accounts receivable schedule and the general ledger accounts receivable should show that write off.

Explanation:

 

Accounting Cycle Review 15 a-e
Cullumber Corporation’s trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below.

Debit
Credit
Cash
$26,100
Accounts Receivable
60,000
Inventory
23,300
Land
67,200
Buildings
81,700
Equipment
41,000
Allowance for Doubtful Accounts
$470
Accumulated Depreciation—Buildings
25,500
Accumulated Depreciation—Equipment
14,200
Accounts Payable
19,500
Interest Payable
–0–
Dividends Payable
–0–
Unearned Rent Revenue
7,200
Bonds Payable (10%)
44,000
Common Stock ($10 par)
28,000
Paid-in Capital in Excess of Par—Common Stock
5,600
Preferred Stock ($20 par)
–0–
Paid-in Capital in Excess of Par—Preferred Stock
–0–
Retained Earnings
65,330
Treasury Stock
–0–
Cash Dividends
–0–
Sales Revenue
570,000
Rent Revenue
–0–
Bad Debt Expense
–0–
Interest Expense
–0–
Cost of Goods Sold
380,000
Depreciation Expense
–0–
Other Operating Expenses
36,900
Salaries and Wages Expense
63,600

Total
$779,800
$779,800

Unrecorded transactions and adjustments:

1. On January 1, 2020, Cullumber issued 1,000 shares of $20 par, 6% preferred stock for $23,000.
2. On January 1, 2020, Cullumber also issued 1,000 shares of common stock for $24,000.
3. Cullumber reacquired 260 shares of its common stock on July 1, 2020, for $46 per share.
4. On December 31, 2020, Cullumber declared the annual cash dividend on the preferred stock and a $1.30 per share dividend on the outstanding common stock, all payable on January 15, 2021.
5. Cullumber estimates that uncollectible accounts receivable at year-end is $6,000.
6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,200.
7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,100.
8. The unearned rent was collected on October 1, 2020. It was receipt of 4 months’ rent in advance (October 1, 2020 through January 31, 2021).
9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded.

(Ignore income taxes.)

Answers

Requirment: Prepare a Balance Sheet as at December 31, 2020.

Answer:

Cullumber CorporationBalance Sheet as of December 31, 2020:

Current Assets:

Cash                                                                $61,140

Accounts Receivable                   60,000

less allowance for doubtful          6,000       54,000

Inventory                                                          23,300         138,440

Non-current Assets:

Land                                                                 67,200

Buildings                                       81,700

Accumulated Depreciation       28,050        53,650

Equipment                                    41,000  

Accumulated Depreciation         17,890        23,110          143,960

Total Assets                                                                     $282,400

Liabilities + Equity:

Current Liabilities:

Accounts Payable                       19,500

Interest Payable                           4,400

Dividends Payable                       5,802

Unearned Rent Revenue             1,800       31,502

Non-current Liabilities:

Bonds Payable (10%)                                     44,000           $75,502

Equity:

Common Stock ($10 par)                                38,000

Paid-in Capital in Excess of Par—Common    10,240

Preferred Stock ($20 par)                              20,000

Paid-in Capital in Excess of Par—Preferred    3,000

Retained Earnings                                         138,258

Treasury Stock                                                 (2,600)       206,898

Total Liabilities + Equity                                                  $282,400

Explanation:

a) Cullumber Corporation's Unadjusted Trial Balance as of December 31, 2020:

                                                       Debit             Credit

Cash                                            $26,100

Accounts Receivable                   60,000

Inventory                                      23,300

Land                                             67,200

Buildings                                       81,700

Equipment                                    41,000

Allowance for Doubtful Accounts                                  $470

Accumulated Depreciation—Buildings                      25,500

Accumulated Depreciation—Equipment                    14,200

Accounts Payable                                                        19,500

Interest Payable                                                         –0–

Dividends Payable                                                     –0–

Unearned Rent Revenue                                             7,200

Bonds Payable (10%)                                                  44,000

Common Stock ($10 par)                                           28,000

Paid-in Capital in Excess of Par—Common Stock      5,600

Preferred Stock ($20 par)                                           –0–

Paid-in Capital in Excess of Par—Preferred Stock     –0–

Retained Earnings                                                     65,330

Treasury Stock                          –0–

Cash Dividends                         –0–

Sales Revenue                                                       570,000

Rent Revenue                                                             –0–

Bad Debt Expense                     –0–

Interest Expense                       –0–

Cost of Goods Sold                   380,000

Depreciation Expense              –0–

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600

Total                                       $779,800               $779,800

b) Cullumber Corporation's Adjusted Trial Balance as of December 31, 2020:

                                                       Debit             Credit

Cash                                             $61,140

Accounts Receivable                   60,000

Inventory                                      23,300

Land                                             67,200

Buildings                                       81,700

Equipment                                    41,000

Allowance for Doubtful Accounts                              $6,000

Accumulated Depreciation—Buildings                      28,050

Accumulated Depreciation—Equipment                    17,890

Accounts Payable                                                        19,500

Interest Payable                                                            4,400

Dividends Payable                                                        5,802

Unearned Rent Revenue                                             1,800

Bonds Payable (10%)                                                  44,000

Common Stock ($10 par)                                           38,000

Paid-in Capital in Excess of Par—Common Stock    10,240

Preferred Stock ($20 par)                                         20,000

Paid-in Capital in Excess of Par—Preferred Stock     3,000

Retained Earnings                                                     65,330

Treasury Stock                               2,600

Cash Dividends                              5,802

Sales Revenue                                                       570,000

Rent Revenue                                                            5,400

Bad Debt Expense                        5,530

Interest Expense                           4,400

Cost of Goods Sold                  380,000

Depreciation Expense                 6,240

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600

Total                                       $839,412              $839,412

c) Cash Account Adjustment:

Balance as per Trial Balance $26,100

Preferred Stock                       23,000

Common Stock                       24,000

Treasury Stock                        (11,960)

Adjusted Cash balance         $61,140

d) Income Statement

Sales Revenue                                            $570,000

Cost of goods sold                                       380,000

Gross profit                                                 $190,000

Rent Revenue                                                   5,400

Total                                                            $195,400

less expenses:

Bad Debt Expense                        5,530

Interest Expense                           4,400

Depreciation Expense                  6,240

Other Operating Expenses       36,900

Salaries and Wages Expense   63,600        116,670

Net Income                                                  $78,730

Retained Earnings                                        65,330

Dividends                                                       (5802)

Retained Earnings carried forward         $138,258

Byer, a plastics processor, is considering the purchase of a high-speed extruder as one option. The new extruder would cost $50,000 and would have a residual value of $3000 at the end of its 6-year life. The annual operating expenses of the new extruder would be $5000. The other option that Byer has is to rebuild its existing extruder. The rebuilding would require an investment of $30,000 and would extend the life of the existing extruder by 6 years. The existing extruder has annual operating costs of $13,000 per year and does not have a residual value. Byer's discount rate is 12%. Using net present value analysis, which option is the better option and by how much? Present Value of $1 Periods 12% 14% 16% 6 0.507 0.456 0.410 8 0.404 0.351 0.305 10 0.322 0.270 0.227 12 0.257 0.208 0.168Present Value of Annuity of $1 Periods 12% 14% 16% 6 4.111 3.889 3.685 8 4.968 4.639 4.344 10 5.650 5.216 4.833 12 6.194 5.660 5.197

Answers

Answer:

Option of the new extruder is better by $14,411.16

Explanation:

The present value of each option needs to be determined in order that the cheaper option in present value terms can be recommended.

Present value of new extruder=$50,000/(1+12%)^0+$5000/(1+12%)^1+$5000/(1+12%)^2+$5000/(1+12%)^3+$5000/(1+12%)^4+$5000/(1+12%)^5+$5000/(1+12%)^6-$3000/(1+12%)^6=$ 69,037.14  

The discount factor each year=1/(1+r)^n where is 12% discount rate and n is the year

resent value of old extruder=$30,000/(1+12%)^0+$13,000/(1+12%)^1+$13000/(1+12%)^2+$13000/(1+12%)^3+$13000/(1+12%)^4+$13000/(1+12%)^5+$13000/(1+12%)^6=$ 83,448.30  

The first option is better since it has a lower preset value of costs of $ 69,037.14  

Difference in PVs= 83,448.30-69,037.14=$14,411.16  

Consider the following data for two products of Gitano Manufacturing. (Loss amounts should be indicated with a minus sign. Round your intermediate calculations and "OH rate and cost per unit" answers to 2 decimal places.)


Product A Product B
Number of units produced 11,500 units 1.700 units
Direct labor cost ($29 per DLH) 0.16 DLH per unit 0.24 DLH per unit
Direct materials cost $2.10 per unit $3.10 per unit

Activity Overhead costs
Machine setup $94,104
Materials handling 53,000
Quality control inspections 73.200
$220,304

Required

a. Using direct labor hours as the basis for assigning overhoad costs, determine the total production cost per unit for each product line.
b. If the market price for Product A is $28.68 and the market price for Product B is $58, determine the profit or loss per unit for each.
c. Consider the following additional information about these two product lines. If ABC is used for assigning overhead costs to what is the cost per unit for Product A and for Product B?

Answers

Answer:

a. Product A $257,830 , Product B $57,086

b. Product A $71,990 , Product B $41,514

c. Hie, for this part of the question there is missing information regarding the  Activities for the two Products for each Activity Center.

However the Procedure to deal with the required is explained below :

Step 1 : Determine the Overhead Absorption Rate for Each Activity Center

(We have three Activity Centers: Machine setup, Materials handling: Quality control inspections )

Overhead Absorption Rate = Total Overhead (for each) / Total Number of Activity

Step 2: Absorb the Costs in the products using the Rate for each cost center and the number of activity incurred in each cost center for the two Products

Overhead (Activity Center) = Overhead Absorption Rate× Activity Specific to the Product.

Step 3 : Determine the Total Costs

Total Cost for one Product would include the Total Costs for each Activity Center (which are your overheads) plus the Direct Labor and Direct Material Costs as Calculated in Part b.

Explanation:

Part a

Total Production Cost = Direct Costs + Indirect costs (overheads)

First determine the predetermined rate based on direct labor hours.

Total direct labor hours.

Product A (11,500×0.16) =   1,840

Product B (1.700×0.24)   =    408

Total                                 = 2,248

Predetermined rate = total overhead cost / total direct labor hours

                                 = $220,304 / 2,248

                                 = $98 per labor hour

Assigning Overhead Cost

Total Overhead Costs

Product A (1,840×$98) = 180,320

Product B (408×$98)   =   39,984

Total                             = 220,304

Total Costs

                                                 Product A      Product B

Direct labor cost

Product A ( 1,840×$29)              53,360

Product B (408×$29)                                         11,832

Direct materials cost

Product A ( 11,500×$2.10)          24,150

Product B (1.700×$3.10)                                    5,270

Overheads

Product A                                 180,320

Product B                                                         39,984

Total Costs                              257,830            57,086

Part b.

Profit = Selling Price - Expenses

                                                   Product A      Product B

Sales

Product A ( 11,500×$28.68)        329,820

Product B (1.700×$58)                                        98,600

Manufacturing Costs                 (257,830)        (57,086)

Profit                                              71,990              41,514

Le Son, Inc., has current liabilities of $11,700 an accounts receivable of $15,200. The firm has total assets of $43,400 and net fixed assets of $24,800. The owners' equity has a book value of $21,000. What is the amount of the net working capital

Answers

Answer:

Explanation:

These terms are culled from Balance sheet and Balance sheet have two sides,  The Debit and Credit side. The debit side contain the Capital, Current Liabilities among others and The Credit side contain The Fixed asset and the Current asset

The amount of Net working capital is derived from Current asset - Current Liability

Net working capital  = Current asset - Current Liability

Where Current asset = Total asset - Net Fixed asset= 43,400-24,800 = 18,600

Where Current Liability = 11,700

Therefore, Net working capital  =  $18,600 - $11,700 = $6,900

The amount of the net working capital = $6,900

A municipal bond is issued with a covenant that states "if revenue collections are insufficient, the state legislature has the authority, but not the obligation, to make an annual apportionment of funds necessary to meet debt service requirements." This is a:

Answers

Answer:

Moral obligation bond

Explanation:

Moral obligation bond is defined as a revenue bond that is issued by a municipality or by some other government body.

The benefits of moral obligation bonds are tax exemption and a moral pledge that there will be no default on the bond.

Usually a reserve fund is established in case the issuing body is unable to meet its debt obligations.

In this scenario the bond is issued with a covenant that states "if revenue collections are insufficient, the state legislature has the authority, but not the obligation, to make an annual apportionment of funds necessary to meet debt service requirements."

Rational choice theorists would define the behavior of corporate executives who outsource many jobs to countries where the cost of labor is substantially less than in the United States as being:

Answers

Answer: Instrumental

Explanation:

Rational choice theory, is a school of thought which is based on the assumption that individuals will choose a course of action which goes in line with what they personally prefer.

For the instrumental rationality, it has to do with looking for the most cost effective method in order to achieve a particular objective. Therefore, the behavior of corporate executives who outsource jobs to other countries where labor cost is cheaper than in the United States is defined as being instrumental.

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