Answer:
Jill's Dress Shop:
Ending Inventory 27,950
Ken's Bait Shop:
Ending Inventory 10,340
Explanation:
Jill's Dress Shop:
Beginning 40,000
Purchases 75,000
Returned (5,000)
Discounts (750)
Freight-In 1,000
Cost of Goods Sold (82,300)
Ending Inventory 27,950
Ken's Bait Shop
Beginning 8,000
Purchases 36,900
Allowances (1,200)
Discounts (360)
Freight-In 900
Cost of Goods Sold (33,900)
Ending Inventory 10,340
The freight-out and sales discount have an impact in net sales and selling expenses they do not constitute part of the inventory as are relatedto the sale of the goods rather than acquisition.
Answer:
Determination of Ending Inventory:a) Beginning Inventory = $40,000
Purchases = $75,000
Purchases Return = ($5,000)
Purchases Discounts = ($750)
Freight-in = $1,000
Cost of Goods Available$110,250
less cost of goods sold ($82,300)
Ending Inventory $27,950
b) Beginning Inventory = $8,000
Purchases = $36,900
Purchases Return = ($1,200)
Purchases Discounts = ($360)
Freight-in = $900
Cost of Goods Available $44,240
less cost of goods sold ($33,900)
Ending Inventory $10,340
Explanation:
a) Ending inventory represents the value of goods available for sale and held by a company at the end of an accounting period. It is calculated as follows: Beginning Inventory + Net Purchases - Cost of Goods Sold (or COGS) = Ending Inventory. The value of goods available for sale at the end of the accounting period is important in reporting the financial status of any trading or producing company.
b) The cost of goods available for sale includes the beginning inventory, the net purchases of inventory, and the freight-in during the period.
Homeowners enjoy many benefits, including a federal tax deduction for state and local property taxes paid. Fishers, Indiana, was voted one of the top 100 best places to live in 2017 by Money magazine. With population of 86,357, a median home price of $236,167, and estimated property taxes at 10.6 mills, how much does the average homeowner pay in property taxes?
Answer:
The average homeowner pay $2,503.37 in property taxes
Explanation:
Population = 86,357
Median home price = $236,167
Estimated property taxes = 10.6 mills
Property Tax 1 Mills equals to 1/1000 Units . That Means Property tax Need to pay $1 For $1000 Assets able value .
Average homeowner pay in property taxes = Home Price × (Mills ÷ 1000)
= $236,167 × (10.6 ÷ 1000)
= $236,167 × 0.0106
=$2,503.37
Dave Krug contributed $1,400 cash along with inventory and land to a new partnership. The inventory had a book value of $1,200 and a market value of $2,800. The land had a book value of $1,800 and a market value of $5,800. The partnership also accepted a $3,400 note payable owed by Krug to a creditor. Prepare the partnership's journal entry to record Krug's investment
View transaction list View journal entry worksheet
No Transaction General Journal Debit Credit
Cash
Answer:
Partnership General Journal to record Krug Investment
Cash $1,400 (Debit)
Inventory $2,800 (Debit)
Land $5,800 (Debit)
Notes Payable $3,400 (Credit)
Krug, Capital $5,800 (Credit)
Explanation
i. The land and inventories will be accepted at his market value.
ii. Along with cash, this are assets which enter the partnership so they are debited.
iii. The note payable decreases the Krug capital contribution. It is credited.
iv. Krug capital account balance will be to complete the entry and make debit = credit.
The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed form: Year 2 Year 1 Assets Cash $45,000 $53,500 Accounts receivable (net) 51,300 58,000 Inventories 147,200 135,000 Investments 0 60,000 Equipment 493,000 375,000 Accumulated depreciation—equipment (113,700) (128,000) Total Assets $622,800 $553,500 Liabilities and Stockholders' Equity Accounts payable $61,500 $42,600 Bonds payable, due Year 4 0 100,000 Common stock, $10 par 250,000 200,000 Paid-in capital in excess of par—common stock 75,000 50,000 Retained earnings 236,300 160,900 Total liabilities and stockholders' equity $622,800 $553,500 The income statement for the current year is as follows: Sales $629,700 Cost of goods sold 341,800 Gross profit $287,900 Operating expenses: Depreciation expense $24,700 Other operating expenses 75,300 Total operating expenses 100,000 Income from operations $187,900 Other income: Gain on sale of investment $5,000 Other expense: Interest expense 12,000 (7,000) Income before income tax $180,900 Income tax 64,100 Net income $116,800 Additional data for the current year are as follows: a. Fully depreciated equipment costing $39,000 was scrapped, no salvage, and equipment was purchased for $157,000. b. Bonds payable for $100,000 were retired by payment at their face amount. c. 5,000 shares of common stock were issued at $15 for cash. d. Cash dividends declared were paid $41,400.
Answer:
Kindly check attached picture
Explanation:
Kindly check attached picture for detailed statement using the direct method
Because transit tends to be congested in this country, many people prefer to shop in their local neighborhoods. They tend to go to stores several times a week to get what they need rather than making one big trip less frequently. Since the culture of this company is very network oriented, shoppers expect a trip to the store to involve significant interaction with store employees. Shoppers are also used to good deals and haggling for better prices. A U.S. store opens in this country and exhibits the following characteristics. Which of these characteristics will be problematic for the success of the store?
A) A few large flagship stores located in big cities
B) Product experts on the floor to answer customers' questions
C) Store locations easy to access via public transit
D) High-end pricing
E) Products available individually rather than in bulk
Answer: A few large flagship stores located in big cities; High-end pricing( Option A and D)
Explanation:
Because the people in this country usually shop close to their home, it would not be wise for a business to opt for few large flagship stores rather than a larger number of the smaller stores.
It would also be unwise for such business to sell mainly high-end products because the shoppers are used to good deals and haggling. Such company would be smart, to sell the products individually, because bulk purchases would make little sense for people that make frequent trips to the store.
Also, in a country with a congested transportation, an easy-to-access store locations will be important and having product experts on the floor who answers the questions of customers’ would appeal to network-oriented local culture.
"Nelson Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $100,000. The equipment will have an initial cost of $400,000 and have a 5-year life. If the salvage value of the equipment is estimated to be $75,000, what is the payback period
Answer:
4 years
Explanation:
Payback period calculates the amount of the time it takes for the amount invested in a project to be recovered from the cumulative cash flow.
Payback period = amount invested / annual cash flows
= $400,000 / $100,000 = 4 years
I hope my answer helps you
Toxemia Salsa Company manufactures five flavors of salsa. Last year, Toxemia generated net operating income of $40,000. The following information was taken from last year's income statement segmented by flavor (brackets indicate a negative amount):
Wimpy Mild Medium Hot Atomic
Contribution margin $(2000) $45,000 $35,000 $50,000 $162,000
Segment margin $(16,000) $(5000) $7000 $10,000 $94,000
Segment margin less
allocated common fixed
expenses $(26,000) $(15,000) $(3000) $0 $84,000
Toxemia expects similar operating results for the upcoming year. If Toxemia wants to maximize its profitability in the upcoming year, which flavor or flavors should Toxemia discontinue? A no flavors should be discontinued B wimpy C wimpy and mild D wimpy, mild, and medium
Answer:
C wimpy and mild
Explanation:
The Allocated fixed Common overhead is irrelevant for this Decision because the expense is a head office expense which is managed by a Head office department.
Of our interest is the Incremental Revenues and Expenses that result from existence of a Segment (Segment Margin).
The segment margin consists of controllable Fixed and Variable costs attributable to a particular segment.
Discontinue flavor giving a negative Segment Margin that is : Wimpy and Mild
Two countries are trying to decide which product should have an increased production Both Canada and Costa Rica produce cottee and corn, but is easier for Canada to raise com than grow Coffee Costa Rica easily grows coffee, but has a more difficult time growing com. In comparison with Costa Rica, Canada has:_________.
a the camale to create richer lasting coffee than Costa Rica
b the opportunity to increase their coffee production to better compete with Costa Rka
c. a comparative advantage with com.
A Moving to another question will save this response
Answer:
. a comparative advantage with com.
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.
If it is easier for Canada to produce Com, it means they have a comparative advantage in the production of com. Costa Rica has a comparative advantage in the production of coffee.
I hope my answer helps you
A firm wishes to issue new shares of its stock, which already trades in the market. The current stock price is $24, the most recent dividend was $3 per share, and the dividend is expected to grow at a rate of 4% forever. Flotation costs for this issue are expected to be 6%. What is the required rate of return (or financing cost) in this new issue?
Answer:
17.83%
Explanation:
The computation of required rate of return is shown below:-
Required rate of return = ((Expected dividend ÷ (Current Stock price × (1 - Flotation cost as a percentage of issue price)) + Growth rate)) × 100
= ((Dividend × (1 + Growth rate)) ÷ Current Price of stock × (1 - Flotation cost as a percentage of issue price)) + Growth rate))) × 100
= ($3 × (1.04) ÷ $24 × (1 - 0.06) + 0.04) × 100
= ($3.12 ÷ $22.56 + 0.04) × 100
= (0.138297872 + 0.04) × 100
= 17.82978723
or
= 17.83%
Therefore we have applied the above formula.
On January 1, 2020, Milwaukee Corporation issued $3,000,000 of its 20-year, 8% bonds payable at 96. Interest is payable annually on January 1. The entry to accrue interest on December 31, 2020 would include a
Answer:
It will include credit to discount on bonds payable for $6,000
Explanation:
Solution
Given that
Issue price of bond = $3,000,000 * 96%
Issue of bond =$ 2,880,000
Thus,
The discount of bond payable = $3,000,000 - $ 2,880,000
=$120,000
Amortization of discount of bond payable = $120,000/20
=$6,000
Now,
We prepare an entry to accrue interest which is given below:
Entry to accrue interest
Date Account Titles and Explanation Debit Credit
31-12-2020 Interest expense $246,000
discount of bond payable $6,000
Interest payable $240,000
(To record the interest accrued)
Ajax Computer Company is an accrual-method calendar-year taxpayer. Ajax has never advertised in the national media prior to this year. In November of this year, however, Ajax paid $3 million for television advertising time during a "super" sporting event scheduled to take place in early February of next year. In addition, in November of this year the company paid $2,500,000 for a one-time advertising blitz during a professional golf tournament in April of next year. What amount of these payments, if any, can Ajax deduct this year
Answer: No deduction can be claimed this year.
Explanation:
The options to the question are:
a. No deduction can be claimed this year.
b. $5.50 million
c. $2,500,000
d. $5.50 million only if the professional golf tournament is played before April 15.
Answer:
Since Ajax Computer company is an accrual method calender-year tax payer, the computer company would recognize the expenses only when such expenses are incurred and not at the time that cash is being paid for the the expenses
Ajax computer company already paid in advance for both advertisements the following year even though the advertisement eanst taking place that year. Therefore, the payments will not be considered to be an expense until advertisements has actually taken place. Because of this, Ajax cannot deduct the amounts paid for the advertisements next year and hence, no deduction will be claimed this year.
Required: Using the adjusted trial balance on the next page for Buttross Manufacturing, Inc., prepare statements for the fiscal year ended September 30, 2020, in good form:
Part 1: Prepare a Statement of Cost of Goods Manufactured
Part 2: Prepare a Multiple-Step Income Statement
Aside: The general ledger would usually include a factory overhead control account and the detail of factory overhead would be in a subsidiary ledger. However, the detail of factory overhead has been put into the adjusted trial balance mixed with the other accounts to make sure you can distinguish accounts going into cost of goods manufactured from those going into the income statement.
Find the given attachments for answer.
Note: The adjusted trial balance is added.
Cost of Goods Sold = Beginning finished goods inventory + COGM - Ending Finished Goods Inventory = 69,000 + 311,000 -100,000 = 280,000.
Cost of goods available for sale = Beginning finished goods inventory + COGM
COGS = Cost of goods available for sale - Ending finished goods inventory.
A firm buys on terms of 3/15, net 45. It does not take the discount, and it generally pays after 85 days. What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? The firm's APR of not taking the trade credit is ____. (If you use percent, then do not use the percent sign. Go two places to the right of the decimal point (XX.XX). If you use decimal places, then go four places to the right of the decimal place. 0.XXXX). 0.1613
Answer:
What is the nominal annual percentage cost of its non-free trade credit, based on a 365-day year? The firm's APR of not taking the trade credit is 0.1613.
Explanation:
The nominal cost of its non-free trade credit = the discounts lost for paying late.
In this case, the seller offers a 3% discount if the firm pays within 15 days.
annual financial cost = [discount / (100% - discount)] x [365 / (repayment time - discount period)]
annual financial cost = [3% / (100% - 3%)] x [365 / (85 - 15)] = (3% / 97%) x (365 / 70) = 0.1613 or 16.13%
client becomes dissatisfied with the progress that Engineer A is making on his project. As a result, he terminates the services of Engineer A and hires Engineer B to complete the work. Engineer B: Must be able to document his or her effort of reworking the entire design process. Must take complete responsibility for the documents.s Must notify Engineer A, by certified mail, of his intentions to reuse already sealed documents. All of the ab
Answer:
The correct answer is all of the above.
Explanation:
Solution
When a client is not happy with the work of the former Engineer A on his project, if he hires Engineer B to finish the work, the new Engineer must take into consideration the past work of his predecessor.
He has to check the overall work manual of the previous engineer, so as to input his own idea to make the work much better and satisfactory for the client.
He (Engineer B) should be able to keep track in documenting his or her effort while redoing the entire design process stage.
He can also asked questions from the previous Engineer in case he his not understanding dome things or facing some issues towards the project work.
The four option here, are correct
Angara Corporation uses activity-based costing to determine product costs for external financial reports. The company has provided the following data concerning its activity-based costing system: Activities (and Activity Measures) Estimated Overhead Cost Machine related (machine-hours) $256,520 Batch setup (setups) $261,360 General factory (direct labour-hours) $178,560 Expected Activity Activities Product X Product Y Total Machine related 4,300 6,300 10,600 Batch setup 8,600 1,300 9,900 General factory 3,300 6,300 9,600 Assuming that actual activity turns out to be the same as expected activity, the total amount of overhead cost allocated to Product X would be closest to:
Answer:
The total amount of overhead cost allocated to Product X would be closest to $ 392,480
Explanation:
Activities (and Activity Measures) Estimated Overhead Cost
Machine related (machine-hours) $256,520
Batch setup (setups) $261,360
General factory (direct labour-hours) $178,560
Expected Activity
Activities Product X Product Y Total
Machine related 4,300 6,300 10,600
Batch setup 8,600 1,300 9,900
General factory 3,300 6,300 9,600
The total amount of overhead cost allocated to Product X would be closest to:
Machine related = (4,300 × $256,520) ÷ 10,600 = $104,060
Batch setup = (8,600 × $261,360) ÷ 9,900 = $227,040
General factory = (3,300 × $178,560) ÷ 9,600 = $61,380
Total = $104,060 + $227,040 + $61,380 = $ 392,480
An investor enters into a 2-year swap agreement to purchase crude oil at $51.25 per barrel. Soon after the swap is created, forward prices rise and the new 2-year swap price is $61.50. If interest rates are 1% and 2% on 1- and 2-year zero coupon government bonds, respectively, what is the gain or loss to be made from unwrapping the original swap agreement?
Answer:
The present Value of Annual Gain for two years made from unwrapping the original swap agreement is $20.00
Explanation:
From the given information;
The annual gain from swap agreements = $61.50 - $51.25
The annual gain from swap agreements = $10.25
Annual rate for the first year = 1% = 0.01
Annual rate for the second year = 2% = 0.02
However the present gain for the first year will be;
[tex]= \dfrac{Annual \ Gain}{(1+r_1)^1}[/tex]
[tex]= \dfrac{10.25}{(1+0.01)^1}[/tex]
= 10.14851485
The present gain for the second year will be;
[tex]= \dfrac{Annual \ Gain}{(1+r_2)^2}[/tex]
[tex]= \dfrac{10.25}{(1+0.02)^2}[/tex]
= 9.851980008
The present Value of Annual Gain for two years is:
[tex]= \dfrac{Annual \ Gain}{(1+r_1)^1} + \dfrac{Annual \ Gain}{(1+r_2)^2}[/tex]
= 10.14851485 + 9.851980008
= 20.00049486
≅ $ 20.00
The present Value of Annual Gain for two years is $20.00
Hochberg Corporation uses an activity-based costing system with the following threeactivity cost pools:Activity Cost Pool Total ActivityFabrication ............................ 30,000 machine-hoursOrder processing ................... 300 ordersOther ..................................... Not applicableThe Other activity cost pool is used to accumulate costs of idle capacity andorganization-sustaining costs.The company has provided the following data concerning its costs:Wages and salaries ................. $340,000Depreciation ........................... 160,000Occupancy .............................. 220,000Total ........................................ $720,000The distribution of resource consumption across activity cost pools is given below:Activity Cost PoolsFabricationOrderProcessing Other TotalWages and salaries .................. 30% 60% 10% 100%Depreciation ............................ 15% 50% 35% 100%Occupancy ............................... 15% 55% 30% 100%The activity rate for the Fabrication activity cost pool is closest to:__________A) $5.30 per machine-hourB) $3.60 per machine-hourC) $7.20 per machine-hourD) $4.80 per machine-hour
Answer:
The answer is option A
Explanation:
Amount($) Activity cost pools Allocated amount($)
Wages and salaries 340,000 30% 102,000
Depreciation 160,000 15 % 24,000
Occupancy 220,000 15 % 33,000
Total 720,000 159,000
Cost driver (hours) 30,000 machine hours
Rate per machine hr 159,000 ÷ 30,000
=$ 5.30
A project manager is preparing two documents for risk management. One contains sources of overall project risk and also summary information on individual risks. The second describes individual risks identified. What name should the project manager give to the first document
Answer: Risk Report
Explanation:
A Risk Report for a project contains all the risk that the project is exposed to. This includes both project risk as well as individual risks related to the components projects in the overall project.
A Risk Report details the risks such as Supplier failure, Inflation, Pending Government Regulations and the like. It then takes these and summarizes them for presentation to those who require this information in the company so that appropriate safeguards may be set up and precautions taken.
This describes the first document and so should be what the Project Manager names it.
Ethics is a hot topic in business, as well as in Project Management. Using some of the examples presented therein, what kinds of dilemmas have you either seen, encountered, or can envision from your field of study and/or work? How does this affect international projects and venues?
Answer:
Without question, ethics is indeed a very hot subject of industry. Various forms of ethical challenge come up particularly in managing projects. I encountered only a handful of the above :-
(A) It is a predicament to finish the ethical task in a timely manner but to with over-exploit natural resources by simply avoiding even their own work-life balance.
(B) Much of the project has to be successfully completed and within likely cost. The conundrum faced can jeopardise the excess cost savings with the value of the project that would result in customer unhappiness.
Earnings per Share and Price-Earnings Ratio A company reports the following: Net income $1,306,000 Preferred dividends $74,000 Shares of common stock outstanding 80,000 Market price per share of common stock $97.02 a. Determine the company's earnings per share on common stock. Round your answer to the nearest cent. Use the rounded answer of requirement a for subsequent requirement, if required. $ b. Determine the company's price-earnings ratio. Round to one decimal place.
Answer:
(a) The company's earnings per share on common stock is $ 15.40
(b) The company's price-earnings ratio is 6.3
Explanation:
Net income = $1,306,000
Preferred dividends = $74,000
Shares of common stock outstanding = 80,000 shares
Market price per share of common stock = $97.02
(a) Earnings per share = (Net income−Preference dividend ) ÷ Shares outstanding
= ($1,306,000−$74,000 ) ÷ 80,000 shares
= $1,232,000 ÷ 80,000 shares
= $ 15.4
(b) Price-Earnings ratio = Market price per share ÷ Earnings per share
= $97.02 ÷ $15.40 per share
= 6.3
Graham Petroleum produces oil. On May 1, it had no work-in-process inventory. It started production of 244 million barrels of oil in May and shipped 216 million barrels in the pipeline. The costs of the resources used by Graham in May consist of the following:
Materials $6,000 Million
Conversion Cost (Labor and overhead) $7,968 Million
Required:
The production supervisor estimates that the ending work-in-process is 60 percent complete on May 31.
Compute the cost of oil shipped in the pipeline and the amount in work-in-process ending inventory as of May 31. (Do not round intermediate calculations. Enter your answers in millions. For example, enter "1" instead of "1,000,000".)
Answer:
The cost of 216 million barrels of oil shipped is $ 12,960 million
Cost of ending work in process is $1,008 million
Explanation:
The total costs of oil production is computed thus:
$million
materials 6,000
conversion cost 7,968
total cost 13,968
Production started 244 million
Oil shipped 216 million
ending work in process 28 million
total equivalent units=216 million+28 million*60%=216 million+16.8 million=232.8 million
cost of oil shipped=$13,968/232.8*216=$ 12,960 million
amount of ending inventory=$13,968-$12,960=$1,008.00
Globalization has been driven by five major factors: political, technological, market, cost, and competitive. Business has fueled these trends and has been the beneficiary of these trends. Understanding these trends helps businesses develop strategies and tactics to accelerate these trends. Understanding globalization trends helps businesses identify opportunities and threats in their environment. Understanding these trends will also make the changes much more manageable. International businesses have greater flexibility, more options, and a broader scope to consider globalization of production and globalization of markets.For each driving force listed, click and drag the correct description from the left and place it as a description or implication for business on the right. Driving Force Description Implication for Business Preferential trading Growth in services privatization of industriesCompetitive drivers Exporting or producing New opportunities and new markets Political drivers fgoods Emergence of global sold Lower cost Cost drivers Explosive growth of high-power, low-cost computing opportunities for trade and investment Technological drivers Explosive growth in Intense competition 6 international business in world markets Market drivers
Answer:
Competitive Drivers
Description
Explosive growth in international business
Implication for Business
Intense competition in world markets
Globalization has led to an explosive growth in international.business which has led to increased competition amongst companies because they now have to compete on a global scale against numerous companies in various locales.
Political Drivers
Description
Preferential trading arrangements and privatization of industries
Implications for Business
Increased opportunities for trade and investment
Some Countries offer great trading agreements this enabling companies to trade in other countries. This opportunity means that there are increased opportunities for trade by companies in the countries involved in the agreement.
Cost Drivers
Description
Exporting or producing Overseas
Implications for Business
Lower Cost of Goods sold
Globalization has enabled companies to be able to produce in cheaper markets for labor such as in Asia and Africa. This has led to a lower cost of goods sold and therefore higher profits.
Technological Drivers
Description
Explosive growth of high-power, low-cost computing
Implications for Business
Growth in Services.
Driving Globalization is an increased use of technology by human beings. The world is now connected by mere seconds which has enabled companies to derived clients all over the world this enabling them to offer more services.
Market Drivers
Description
Emergence of Global Customers
Implications for Business
New Opportunities and New Markets.
Another factor driving Globalization is the availability of new markets to sell their goods in in different territories. Companies can therefore have an increased demand base which will mean more Profitability.
Globalization has been driven by many factors. It has increased trading with other countries.
Globalization CompetitiveDrivers Globalization has led to growth in the international market.
The businesses led to competition amongst companies as they compete on a global.
Political Drivers Some Countries offer trading deals that allow companies to trade with others.
It suggests that there are increasing possibilities for trade by companies in the countries involved in the agreement.
Cost Drivers Globalization has helped companies produce products that help labour in Asia and Africa at a low cost.
This has led to a lower cost of goods sold with higher profits.
Technological Drivers Driving Globalization is an increase in the use of technology by humans.
People are connected by the internet, which has enabled companies to derive clients with more services.
Market Drivers Here globalization is available in new markets to trade goods in different regions.
Companies can have an increased demand based which will mean more Profitability.
Find out more information about Globalization here:
brainly.com/question/200850
For 2018, Winters Manufacturing uses machineminushours as the only overhead costminusallocation base. The direct cost rate is $ 6 per unit. The selling price of the product is $ 21. The estimated manufacturing overhead costs are $ 275 comma 000 and estimated 40 comma 000 machine hours. The actual manufacturing overhead costs are $ 350 comma 000 and actual machine hours are 50 comma 000. What is the profit margin earned if each unit requires two machineminushours?
Answer:
Profit margin per unit= $1.25
Explanation:
Giving the following information:
The direct cost rate is $ 6 per unit.
The selling price of the product is $ 21.
Estimated manufacturing overhead= $275,000
Estimated machine-hours= 40,000
Actual machine hours are 50,000
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 275,000/40,000= $6.875 per machine hour
Now, we can allocate overhead:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 6.875*2= $13.75
Finally, the profit margin:
Profit margin per unit= 21 - 6 - 13.75= $1.25
At the beginning of the month, the Forming Department of Martin Manufacturing had 23,000 units in inventory, 40% complete as to materials, and 20% complete as to conversion. During the month the department started 86,000 units and transferred 88,000 units to the next manufacturing department. At the end of the month, the department had 21,000 units in inventory, 80% complete as to materials and 60% complete as to conversion. How many units did the Forming Department start and complete in the current month
Answer:
Units stated and completed during the month= 65,000
Explanation:
The units stated and completed in the current period is referred to as the fully worked.
Using the first in first out (FIFO) approach, the fully worked is calculated as
Fully worked = newly introduced -closing inventory
= 86,000- 21,000 = 65000
Note that out of the 86,000 that were completed in the period, it assumed that 23,000 representing the opening inventory would first be completed and the balance would from the newly introduced.
Another way to determine the fully worked is as follows
Fully worked = transferred out - opening inventory
Fully worked = 88,000- 23,000 = 65,000
Units stated and completed during the month= 65,000
lyssa and Crystal are roommates. They spend most of their time studying (of course), but they leave some time for their favorite activities: making pizza and brewing root beer. Alyssa takes 3 hours to brew a gallon of root beer and 2 hours to make a pizza. Crystal takes 7 hours to brew a gallon of root beer and 5 hours to make a pizza. Alyssa's opportunity cost of brewing a gallon of root beer is__________ , and Crystal's opportunity cost of brewing a gallon of root beer is__________ , has an absolute advantage in brewing root beer, and has a comparative advantage in brewing root beer. If Alyssa and Crystal trade foods with each other, will trade away pizza in exchange for root beer. The price of pizza can be expressed in terms of gallons of root beer. The highest price at which pizza can be traded that would make both roommates better off is of root beer, and the lowest price that makes both roommates better off is of root beer per pizza.
Answer:
a. 1.5 pizza
b. 1.39 pizza
c. Alyssa has an absolute advantage in brewing beer
d. Crystal has a comparative advantage in brewing beer
e. Crystal will easily trade away pizza for root beer
f. there's no limit to the highest price
g. lowest price is 0.719 beer root/pizza
Explanation:
Alyssa takes 3 hrs to brew a gallon of root beers and 2 hrs to make a pizza
Crystal takes 7 hrs to brew a gallon of root beer and 5 hrs to make a pizza
Alyssa make 1 gallon/3 hrs = 0.33 gallons/hr of beer, and the same way makes 0.5 pizza/hr
Crystal makes 0.143 gallon/hr of beer, and 0.2 pizza/hr
for Alyssa, 0.33 gallons/hr = 0.5 pizza/hr, therefore
1 gallon of beer = 0.5/0.33 = 1.51 pizza
for crystal, 1 gallon of beer = 0.2/0.143 = 1.39 pizza
price of pizza:
Alyssa = 0.662 root beer/pizza
Crystal = 0.719 root beer/pizza
A company purchased a computer system at a cost of $25,000. The estimated useful life is 6 years, and the estimated residual value is $8,000. Assuming the company uses the double-declining-balance method, what is the depreciation expense for the second year
Answer:
$5,102
Explanation:
Double declining Method
Cost $ 25,000
B Residual Value $2,000
C = A - B Depreciable base $23,000
D Life [in years] 7
E = C/D Annual SLM depreciation $3,286
F = E/C SLM Rate 14.29%
G = F x 2 DDB Rate 28.57%
.
Depreciation schedule-Double declining
Year Beginning Book Value Depreciation rate Depreciation expense Accumulated Depreciation Ending Book Value
1 $25,000 , 28.57%, $7,143 , $7,143 $17,857
2 $17,857, 28.57%, $ 5,102 , $ 12,245, $12,755
What is a project, and what are its main attributes? How is a project different from what most people do in their day-to-day jobs? Discuss the importance of top management commitment and the development of standards for successful project management. Provide examples to illustrate the import
Answer:
In simple words, The project is a collective organization that is structured to accomplish a common goal. The best characteristics of the project are scale, purpose, money, staff, costs, deadlines.
Projects vary from daily operations-to-day activities in the way of ultimate goal, time frame, budget , resources, squad and concentrate. Day-to-day activities follow formed safety procedures and also have particular long-term objectives, while projects have particular short-term objectives, tight income, money and energy. Projects have been carried over by a particular team formed for a specific project.
The importance of senior managers in the project is of vital importance as they work as the guiding and monitoring authority for all the parties involved in the project. Due to this factor majority organisations gives the top mangers some monetary shares in relation to success of the project.
The following data apply to Elizabeth's Electrical Equipment: Value of operations $20,000 Short-term investments $1,000 Debt $6,000 Number of shares 300 The company plans on distributing $1,000 by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase? Notes: With some combinations of variables, the residual policy may result in zero dividends and a zero payout ratio. These outcomes are noted in the topic [TOP] field if applicable.
Answer:
$50
Explanation:
Elizabeth's Electrical Equipment
Total Assets will be :
Value of operations of 20,000+ Short term investments of 1000
=$21,000
Debt = $6000
Hence:
Equity will be :
Assets - Debt
= $21,000-$6,000
Which will give us = $15,000
Number of shares which are outstanding
= 300
$15,000/300
=$50
Therefore the Intrinsic value per share will be $50 immediately after the repurchase has occured.
A lot of research has demonstrated that there is a relationship between the of employees and that of the customer
Answer:
Satisfaction
Explanation:
A satisfaction is a thing. We just take an example :- When a customer purchase a product from the company he or she investing their money in order to fulfill their needs and wants. In return the customer wants the product is according to their expectations. In the case when the customer is satisfied, the chances of repurchasing of the product is high.
Therefore, as per the current situation there is always a relationship of satisfaction between the customer and the employees of the company.
An annual insurance policy is paid in advance by a company. How will the company treat this initial payment and the subsequent expiration of a portion of the policy over time?
A. The initial payment will be recorded as an increase to a Prepaid Insurance account.
B. Over time, the expired portion of the policy must be removed from the asset account as it has been used up and is no longer considered an asset.
C. As a portion of the policy expires, the expired portion will be removed and transferred to an expense account.
D. This prepayment of the policy will initially be treated as an expense and over time, the expired portion will be treated as an asset.
Answer:
The question requires the answering party to pick all that apply as found in the attached.
A. The initial payment will be recorded as an increase to a Prepaid Insurance account.
B. Over time, the expired portion of the policy must be removed from the asset account as it has been used up and is no longer considered an asset.
C. As a portion of the policy expires, the expired portion will be removed and transferred to an expense account.
Explanation:
The initial payment will be recorded as increase to an asset account,prepaid insurance is a correct statement,pending when the insurance cost is cost,
Subsequently,the expired the portion of the prepayment would be removed from the account,hence point B is also correct.
Finally,when the expired portion is removed from prepaid insurance account,it is transferred to insurance expense account,point C is also on point.
A friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks. Use this information to answer the following three questions, assuming the unemployment rate is not changing: 1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below. Note that if f is the rate of job finding, then the average spell of unemployment is (1/f).
Answer: 1. 12. 2. 1.090. 3. 0.08327
Explanation:
Here is the complete question:
friend and fellow student shares her employment experience over the last 12-week summer break. It took her one full week to find a job. She started on the first day of week two and was able to keep her job for the remaining eleven weeks. Use this information to answer the following three questions, assuming the unemployment rate is not changing:
1. Calculate the rate of job finding (f) for the summer, using an average rate per week. Enter this value in the box below. Note that if f is the rate of job finding, then the average spell of unemployment is (1/f).
The value of f is:
2. Calculate the rate of job separation (s), using an average rate per week. Enter this value into the box below. Note that if s is the rate of job separation, then the average length of employment is (1/s).
The value of s is:
3. Calculate the natural rate of unemployment (U) using the above results and enter this value in the box below.
The natural rate of unemployment (in percent) is
1. From the question, we can see that it was said that took her one full week to get a job over the last 12 week summer break. The unemployment rate will be 12.
The value of f is: 12
2. From the question, the average length of the employment is 11/12 weeks. The rate of job separation will be: s = 12weeks ÷ 11 weeks
s = 1.090
The value of s is: 1.090
3. The natural rate of unemployment will be:
U = s/(s+f)
= 1.090/(1.090 + 12)
= 1.090/13.090
= 0.08327
