Moccasin Company manufactures cotton shirts. 18,000 shirts are produced during the first week of July. The unit quantity standard is 3 meters cloth per shirt and the actual quantity used was 0.50 meters per shirt. Determine the quantity of cloth that should be used for the actual output of 18,000 shirts.

Answers

Answer 1

Answer: 54,000 meters

Explanation:

When determining the quantity of cloth t be used in the making of the shirts, it is best to use the standard quantity because this is what the company thinks that it needs to be able to produce a shirt.

Quantity of cloth for 18,000 shirts:

= Number of shirts * standard quantity per shirt

= 18,000 * 3

= 54,000 meters


Related Questions

Accounts receivable financing (LO1) Charmin Paper Company sells to the 12 accounts listed next.
Account Receivable Balance Outstanding Average Age of
the Account over the Last Year
A $ 60,800 22
B 168,000 43
C 78,300 19
D 24,300 55
E 58,900 42
F 238,000 39
G 30,400 16
H 374,000 72
I 41,400 32
J 96,500 58
K 292,000 17
L 67,700 37
Capital Financial Corporation will lend 90 percent against account balances that have averaged 30 days or less, 80 percent for account balances between 31 and 40 days, and 70 percent for account balances between 41 and 45 days. Customers that take over 45 days to pay their bills are not considered acceptable accounts for a loan. The current prime rate is 9.50 percent, and Capital charges 3.50 percent over prime to Charming as its annual loan rate.
a. Determine the maximum loan for which Charmin Paper Company could qualify.
b. Determine how much one month’s interest expense would be on the loan balance determined in part a.

Answers

Answer:

Charmin Paper Company

a. The maximum loan for which Charmin Paper Company could qualify is:

= $851,860

b. One month's interest expense on the loan balance determined in part a would be:

= $9,228.48

Explanation:

a) Data and Calculations:

Account Receivable                 Average Age of

Balance Outstanding   the Account over the Last Year

A     $ 60,800                                 22

B       168,000                                 43

C        78,300                                  19

D       24,300                                  55

E       58,900                                  42

F    238,000                                   39

G     30,400                                    16

H   374,000                                   72

I       41,400                                    32

J    96,500                                    58

K 292,000                                     17

L    67,700                                    37

Lending by Capital Financial Corporation:

Average age           Percentage

<=30 days                    90%

31-40 days                   80%

41-45 days                   70%

above 45 days              0%

<=30 days                    90%

A     $ 60,800              22

C        78,300               19

G       30,400               16

K    292,000               17

Total = $461,500 * 90% = $415,350

41-45 days                   70%

B       168,000              43

 E       58,900               42

Total = $226,900 * 70% = $158,830

31-40 days                   80%

F    238,000                39

 I        41,400                 32  

L      67,700                 37

Total = $347,100 * 80% = $277,680

Total amount that Capital can extend = $851,860

Prime rate = 9.50%

Capital charges over prime = 3.50%

Total interest charge = 13%

Annual Interest expense = $110,742 ($851,860 * 13%)

One month's interest expense = $9,228.48 ($110,742/12)

A company's flexible budget for 12,000 units of production showed total contribution margin of $24,000 and fixed costs, $16,000. The operating income expected if the company produces and sells 15,000 units is:________
a) $34,000.
b) $10,000.
c) $18,667.
d) $8,000.
e) $14,000.

Answers

Answer:

e. $14,000

Explanation:

Operating income for 15,000 units = Proportionate contribution - Fixed cost

Operating income for 15,000 units = [($24,000/12,000)*15,000] - $16,000

Operating income for 15,000 units = $30,000 - $16,000

Operating income for 15,000 units = $14,000

So, the operating income expected if the company produces and sells 15,000 units is $14,000.

QS 8-9 Revenue and capital expenditures LO C3 Paid $40,000 cash to replace a motor on equipment that extends its useful life by four years. Paid $200 cash per truck for the cost of their annual tune-ups. Paid $175 for the monthly cost of replacement filters on an air-conditioning system. Completed an addition to a building for $225,000 cash. 1. Classify the above transactions as either a revenue expenditure or a capital expenditure. 2. Prepare the journal entries to record transactions a and d.

Answers

Answer:

1. a = Capital expenditure

b = Revenue expenditure

c = Revenue expenditure

d = Capital expenditure

2. Journal Entries

a. Debit Equipment $40,000

Credit Cash $40,000

To record a replacement on equipment that extends its useful life by four years.

d. Debit Building $225,000

Credit Cash $225,000

To record the payment for additional building completed.

Explanation:

a) Data and Analysis:

a. Equipment $40,000 Cash $40,000

to replace a motor on equipment that extends its useful life by four years.

b. Tune-ups Expenses $200 Cash $200

c. Repairs Expenses $175 Cash $175

d. Building $225,000 Cash $225,000

Daphne Inc., a steel manufacturing company, is planning to buy a new plant at $1,090,000. The life of the plant is estimated to be 5 years and has cash flows of $109,000, $218,000, $327,000, $436,000, and $545,000. Calculate the payback period for the new plant.
a. 5 years
b. 2 years
c. 4 years
d. 3 years

Answers

Answer:

The payback period is exactly 4 years.

Explanation:

Giving the following information:

Initial investment= $1,090,000

Cf1= 109,000

Cf2= 218,000

Cf3= 327,000

Cf4= 436,000

Cf5= 545,000

The payback period is the time required to cover the initial investment:

Year 1= 109,000 - 1,090,000= -981,000

Year 2= 218,000 - 981,000= -763,000

Year 3= 327,000 - 763,000= 436,000

Year 4= 436,000 - 436,000= 0

The payback period is exactly 4 years.

Mack purchased a variable annuity with $50,000 premium deposits, which he splits equally between 2 subaccounts, at the time of purchase, the value of units in subaccount 1 was $25 and the value of units in subaccount 2 was $10.00, 6 months later the value of units in subaccount 1 increased to $30 and the value of units in subaccount 2 decreased to $8, What was the value of Mack's contract at that point?

Answers

Answer:

$50,000

Explanation:

Calculation to determine the value of Mack's contract at that point

First step is to calculate Units Purchased of Subaccount 1 using this formula

Units Purchased of Subaccount 1 = Amount of Premium deposit in Sub Account 1 /Unit Value of Sub Account 1

Let plug in the formula

Units Purchased of Subaccount 1 =($50,000/2 )/$25

Units Purchased of Subaccount 1 = $25000 / $25

Units Purchased of Subaccount 1 = 1000 Units

Second step is to calculate the Units Purchased of Subaccount 2 using this formula

Units Purchased of Subaccount 2= Amount of Premium deposit in Sub Account 2/Unit Value of Sub Account 2

Let plug in the formula

Units Purchased of Subaccount 2 =($50,000/2)/$10

Units Purchased of Subaccount 2 = $25000 / $10

Units Purchased of Subaccount 2 = 2500 Units

Now let determie the Value of Mark Contract at that point

Value of Mark Contract = (1000 * $30) + (2500 * $8)

Value of Mark Contract = $30000 + $20000

Value of Mark Contract = $50000

Therefore the value of Mack's contract at that point is $50,000

Mary has been asked to rank her preferences between three baskets of goods, X, Y, and Z. If Mary prefers Y to Z but does not care if she gets X or Y, then:______.
a. Z is on a lower indifference curve than X.
b. Y and Z are on the same indifference curve.
c. X is on a higher indifference curve than Y. Mary is indifferent between baskets X and Y. Therefore, these two points must be on the same indifference curve.
d. Y is on a higher indifference curve than Z but it is impossible to determine whether Z is on a higher, lower, or the same indifference curve as X.

Answers

Mary has been asked to rank the three baskets of goods—X, Y, and Z—in order of her choices. If Mary would rather have Y than Z but is unconcerned whether she receives X or Y, Z is on a lower indifference curve than X. Option (a) is correct, so.

What is goods?

Anything can be considered a good, including merchandise, suppliers, raw materials, and finished goods. All movable goods that are sold to a specific customer.

If Mary prefers Y to Z but does not care whether she receives X or Y, then Z is on a lower indifference curve than X.

As a result, option (a) is correct.

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Angel Corporation began offering a two-year warranty on its products. The warranty program was expected to cost Angel 3% of net sales. Net sales made under warranty in 2021 were $218 million. Fifteen percent of the units sold were returned in 2021 and repaired or replaced at a cost of $4.40 million. The amount of warranty expense on Angel's 2021 income statement is:______.

Answers

Answer:

the amount of warranty expense on Angel's 2021 income statement is $6.54 million

Explanation:

The computation of the amount of warranty expense on Angel's 2021 income statement is given below:

Warranty expense on Angel's 2021 income statement is is

= Net sales × 3%

= $218 million × 3%

= $6.54 million

Hence, the amount of warranty expense on Angel's 2021 income statement is $6.54 million

Hexon Printing Company projected the following information for next year: Selling price per unit $80 Contribution margin per unit $40 Total fixed costs $120,000 Tax rate 40% How many units must be sold to obtain an after-tax profit of $60,000

Answers

Answer:

Break-even point in units= 5,500

Explanation:

Giving the following information:

Selling price per unit $80

Contribution margin per unit $40

Total fixed costs $120,000

Tax rate 40%

Desired profit= $60,000

First, we need to calculate the earnings before tax:

EBT= desired profit / (1 - t)

EBT= 60,000 / (1 - 0.4)

EBT= $100,000

Now, the break-even point in units using the following formula:

Break-even point in units= (fixed costs + EBT)/ contribution margin per unit

Break-even point in units= (120,000 + 100,000) / (80 - 40)

Break-even point in units= 5,500

Nick sees a commercial for a Brand X clothing company that depicts the wearers of the clothes out having a good time with friends. Although he doesn't particularly need new clothes, the commercial prompts him to buy a Brand X t-shirt. This illustrates a common.......... of advertising.

Answers

Answer:

Critique of

Explanation:

Advertising

This simply is used to give notice, pass informations, for notification etc. from a known source and it is delivered through a mass-mediated channel that is set up to persuade the masses.

The 3 main components of successful advertising includes information, reasoning, and emphases.

The critiques of advertising:

There are several critiques of advertising. It includes the fact that the society is wasting resources, companies manipulate people's tastes, it hinders competition because it creates the perception that products are more differentiated than they are, allowing higher assumptions or markups.

The 4 types of advertising criticisms includes the effect, taste, role, and appropriateness.

Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Cost Machine Hours January $88,020 9,800 February 150,430 17,700 March 103,350 11,700 April 129,310 15,000 a.$33,900 b.$18,000 c.$8,500 d.$10,600

Answers

Answer:

d. $10,600

Explanation:

Variable cost = (Highest activity cost - Lowest activity cost) / (Highest activity units - Lowest activity units)

Variable cost = ($150,430 - $88,020) / (17,700 - 9,800)

Variable cost = $62,410 / 7,900

Variable cost = $7.9

Fixed cost = Highest activity cost - (Variable cost per unit*Highest activity units)

Fixed cost = $150,430 - ($7.9*17,700)

Fixed cost = $150,430 - $139,830

Fixed cost = $10,600

The CEO of Fly Corporation decides to change an accounting method at the end of the current year. The change results in reported profits increasing by 5%, but the company's cash flows are not changed. If capital markets are efficient, then what would happen to the company stock price? Justify your answer with logical arguments

Answers

Answer:

Fly Corporation

The stock price will not be affected by the accounting change.

Explanation:

This opinion is based on the assumption that the capital markets are efficient.  Therefore, the stock's market price will reflect all available and relevant information.  Since all the necessary information is already incorporated into the stock price, the CEO of Fly Corporation cannot beat the market by the change in accounting method, and the stock price will not be undervalued or overvalued.  Moreover, the change in accounting method only shifts the timing for reporting income.

When you compose a message, you want your audience to find the information it needs quickly and to understand what it finds. Your message should be easy to read and to comprehend. Well-designed documents enhance readability and comprehension. Understanding and employing the various design techniques that can be used to improve readability will make your messages more effective.

_______________ define the shape of text characters.

a. Headings
b. Fonts
c. Typefaces

Answers

B.


it defines the shape of text characters

A new tool manufacturer opened a plant in town three months ago and hired 3000 new employees. People now have extra cash to spend and are out spending in the town. What is an example of how this extra money may shift the demand curve for goods and services in the town

Answers

Answer:

the extra money causes a 50% increase in IPhone sales.

Explanation:

One example would be that the extra money causes a 50% increase in IPhone sales. Therefore this higher income is shifting the demand curve for IPhones upwards due to the number of individuals purchasing the product. If individuals come into more money than they need to survive it is usually spent on luxury goods/services. This creates a demand for these goods and services that did not exist at the same level previously. This increased demand is what curves the demand curve upwards.

Measuring and reporting quality costs does not solve quality problems. Decreases in quality costs generally occur as soon as improvement programs are implemented. Quality cost information helps managers identify the relative importance of quality problems. The impact of customer ill will is generally not found on quality control reports.

a. True
b. False

Answers

Answer:

True statements:

Measuring and reporting quality costs does not solve quality problems.

Quality cost information helps managers identify the relative importance of quality problems.

The impact of customer ill will is generally not found on quality control reports.

Explanation:

When the quality cost is determined and reported so the same should not solve the problem of the quality also the information related to the quality cost helps the managers to identify the significance of the quality issue

The effect of the customer could not found on the reports made for quality control

But if there is a decrease in the quality cost so the improvement programs could not be implemented soon

A company must repay the bank $10,000 cash in three years for a loan. The loan agreement specifies 8% interest compounded annually. The present value factor for three years at 8% is 0.7938. How much cash did the company receive from the bank on the day they borrowed this money?
A. $12,400.
B. $9,200.
C. $7,938.
D. $7,600.
E. $10,000.

Answers

Answer: C. $7,938

Explanation:

This is a straightforward question. From the question, we are informed that a company must repay the bank $10,000 cash in three years for a loan and that the loan agreement specifies 8% interest compounded annually and we are given the present value factor for three years at 8% is 0.7938.

Therefore, the amount of cash that the company receive from the bank on the day they borrowed this money will be:

= $10000 × Present value factor at 8%

= $10000 × 0.7938

= $7938

The price of lemonade is $1.50; the price of popcorn is $0.75. If Fred has maximized his utility by purchasing lemonade and popcorn, his marginal rate of substitution will be: Group of answer choices 1/2 lemonade for each popcorn. indeterminate unless more information on Fred's marginal utilities is provided. 2 lemonades for each popcorn. none of these options is correct

Answers

Answer: 1/2 lemonade for each popcorn

Explanation:

Price of lemonade = $1.50

Price of popcorn = $0.75

Let good 1 = popcorn

Let good 2 = lemonade

MRS = MU1/MU2 = P1/P2

= 0.75/1.50

= 1/2

Therefore, the marginal rate of substitution will be 1/2 lemonade for each popcorn.

Therefore, the correct option is A.

American Delights manufactures a wide variety of holiday and seasonal decorative items. American's activity-based costing overhead rates are:
Purchasing $380 per order
Storing $2 per square foot/days
Machining $100 per machine hour
Supervision $5 per direct labor hour
The Snow Man project involved three purchase orders, 4,000 square feet/days, 60 machine hours, and 40 direct labor hours. The cost of direct materials on the job was $19,000 and the direct labor rate is $30 per hour.
Determine the total cost of the Snow Man project.

Answers

Answer:

Total cost= $34,780

Explanation:

First, we need to allocate costs to Snow Man project:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Purchasing= 380*1= 380

Storing= 2*4,000= 8,000

Machining= 100*60= 6,000

Supervision= 5*40= 200

Total allocated costs= $14,580

Now, the total costs:

Total cost= 19,000 + 30*40 + 14,580

Total cost= $34,780

The cost object in a job order system is the ______ and the cost object in a process costing system is the ______.
a. process; specific job
b. specific job; process
c. process; department
d. department; process

Answers

Answer:

B. Hope it helps:)

Explanation:

Answer: C. Process;Department

Explanation: the cost object in a job order system is the specific job and the cost object in a process costing system is the process.

Suppose a market is initially in equilibrium and demand decreases. The producer surplus will:_____.
a. be higher since the price is lower and equilibrium moves down along the supply curve.
b. be higher since the price is lower and equilibrium moves up along the supply curve.
c. be lower since the price is lower and equilibrium moves down along the supply curve.
d. be lower since the price is lower and equilibrium moves up along the supply curve.

Answers

Answer:

c. be lower since the price is lower and equilibrium moves down along the supply curve.

An employee receives an hourly rate of $15, with time and a half for all hours worked in excess of 40 during the week. Payroll data for the current week are as follows: hours worked, 46; federal income tax withheld, $120; all earnings are subject to social security tax; Social security tax rate, 6%; and Medicare tax rate, 1.5%; state unemployment tax, 5.4% on the first $7,000; federal unemployment tax, 0.8% on the first $7,000. Prepare the journal entry to record the salaries expense. If required, round your answers to two decimal places. If an amount box does not require an entry, leave it blank.

Answers

Answer and Explanation:

The journal entries are shown below:

On December 31

Salary Expense $735.00  

  To Federal Withholding Taxes Payable $120.00  

     To Social Security Taxes Payable 44.10 (735  × 6%)

     Medicare Taxes Payable 11.03 (735  × 1.5%)

     Salaries Payable 559.87

(Being salary expense is recorded)

Here the salaries expense is debited as it increased the expense and credited the payable account as it increased the liabilities account

Working note

Regular earnings 600 (40 × 15)  

Overtime earnings 135 (46 - 40) × 15 × 1.5  

Gross earnings 735  

A software company is raising the prices on all of its products to increase revenue. For each price change described below, do the following: _____
State the percent change in the price.
State the number we can multiply the original price by to determine the new price.
Determine the new price (in dollars).

Answers

Answer:

%increase=increase+original number×100

Percent change, multiplying factor and new price are 5%, 1.05, $304.5 respectively.

Incomplete information;

Original price of software = $290

Increase rate = 5%

Find:

Percent change in the price Multiplying factor  New price of software

Computation:

Percent change in the price  = Increase rate

Percent change in the price  = 5%

New price of software = 290 + [290 × 5%]

New price of software = 290(1 + 5%)  

New price of software = 290(1+0.05)

New price of software = 290 × 1.05

So, multiplying factor = 1.05

New price of software = 290 × 1.05

New price of software = $304.5

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Suppose firm X just paid its annual dividend of $2.00 per share. You expect that the firm will continue to pay $2.00 per share (per year) for the next 10 years (times t=1 through 10), after which point you expect that the annual dividend per share will grow by 12% every year thereafter (forever). If the required rate of return is 15%, what is the current price per share?

Answers

Answer:

Current price per share = $10.54

Explanation:

Note: See the attached file for the calculation of present values (PV) for year 1 to 10 dividends.

From the attached excel file, we have:

Total of dividends from year 1 to year 10 = $10.0375372517085

Year 10 dividend = $0.494369412243732

Therefore, we have:

Year 11 dividend = Year 10 dividend * (100% + Dividend growth rate after year 10) = $0.494369412243732 * (100% + 12%) = $0.55369374171298

Share price at year 10 = Year 11 dividend / (Required return rate - Dividend growth rate after year 10) = $0.55369374171298 / (15% + 12%) = $2.05071756189993

PV of share price at year 10 = Share price at year 10 / (100% + Required return rate)^Number of years = $2.05071756189993 / (100% + 15%)^10 = $0.506906017877183

Therefore, we have:

Current price per share = Total of dividends from year 1 to year 10 + PV of share price at year 10 = $10.0375372517085 + $0.506906017877183 = $10.54

The biggest question Sally has for you is about recovering the initial capital invested which she wishes to bundle as the initial building and land costs well as the future roof and common area expenses. The income stream for the apartment complex is only monthly rent money. How much should she charge for monthly rent in order to at least recover the bundled capital invested

Answers

Answer:

Sally should charge $1,280 per month for 18 months.

Explanation:

Sally has bought the land for $8,000 and she has invested in constructing the building  $12,040. She has further invested  $2,000 for future roof and common area expenses amount to  $1,000. The total capital she has invested is  $23,040. She should charge  $1,280 per month for next 18 months in order to cover the bundled capital investment.

Sandoval needs to determine its year-end inventory. The warehouse contains 26,000 units, of which 3,600 were damaged by flood and are not sellable. Another 2,600 units were purchased from Markor Company, FOB shipping point, and are currently in transit. The company also consigns goods and has 4,600 units at a consignee's location. How many units should Sandoval include in its year-end inventory?
a. 29,000.
b. 21,000.
c. 23,000.
d. 19,000.
e. 26,000.

Answers

Answer:

the  number of units that should Sandoval include in its year-end inventory is 29,600 units

Explanation:

The computation of the number of units that should Sandoval include in its year-end inventory is given below:

= Opening units + units purchased + units at consignee location - units damaged

= 26,000 + 2,600 + 4,600 - 3,600

= 29,600

Hence, the  number of units that should Sandoval include in its year-end inventory is 29,600 units

This is the answer but the same is not provided in the given options

Rita managed a group of financial advisors. She decided to let her employees set their own goals for an appraisal period. She thought they would be more motivated to reach goals they had defined for themselves. Which theory below does this scenario illustrate? Management By Objectives Expectancy Theory Participative Management and Empowerment Goal Setting Theory

Answers

Answer:

The correct answer is the third option: Participative Management

Explanation:

To begin with, in the field of business management the concept known as "Participative Management" refers to the process of giving a great involvement to the employees of the company when it comes to deciding things or goals so they will be more involved in completing those goals effectively. This type of management is used as an alternative to traditional vertical management structures and that is basically for the direct defect that the PM strikes. And that is the participation from the employees when the goals are set by their superiors who do not do it properly.

a deli sells 720 sandwiches per day at $6 each. (a) a market survey shows that for every $0.10 reduction in price, 40 more sandwiches could be sold. how much should the deli harge in order to maximize revenue

Answers

Answer:

To maximize profits, the deli should charge each sandwich at $ 3.9.

Explanation:

Given that a deli sells 720 sandwiches per day at $ 6 each, and a market survey shows that for every $ 0.10 reduction in price, 40 more sandwiches could be sold, to determine how much should the deli harge in order to maximize revenue, the following should be done calculation:

720 x 6 = 4320

760 x 5.9 = 4484

800 x 5.8 = 4640

840 x 5.7 = 4788

880 x 5.6 = 4928

920 x 5.5 = 5060

960 x 5.4 = 5184

1000 x 5.3 = 5300

1040 x 5.2 = 5408

1080 x 5.1 = 5508

1120 x 5 = 5600

1160 x 4.9 = 5684

1360 x 4.4 = 5984

1400 x 4.3 = 6020

1600 x 3.8 = 6080

1560 x 3.9 = 6084

1520 x 4 = 6080

Therefore, to maximize profits, the deli should charge each sandwich at $ 3.9.

In the manufacture of 9,400 units of a product, direct materials cost incurred was $174,900, direct labor cost incurred was $109,800, and applied factory overhead was $44,200. What is the total conversion cost?

Answers

Answer:

$154,000

Explanation:

Calculation to determine the total conversion cost

Using this formula

Total conversion cost=Direct labor cost incurred

+Applied factory overhead

Let plug in the formula

Total conversion cost =$109,800+$44,200

Total conversion cost=$154,000

Therefore Total conversion cost is $154,000

Selected financial information for Solomon Company for 2019 follows:
Sales $ 2,500,000
Cost of goods sold 1,750,000
Merchandise inventory
Beginning of year 154,000
End of year 200,000
Required
Assuming that the merchandise inventory buildup was relatively constant, how many times did the merchandise inventory turn over during 2019? (Round your answer to 2 decimal places.)
Merchandise inventory turnover _________ times

Answers

Answer:

9.89 times

Explanation:

Calculation to determine the merchandise inventory turn over during 2019

First step is calculate the Average Inventory using this formula

Average Inventory = (Opening Inventory + Closing Inventory) / 2

Let plug in the formula

Average Inventory= (154,000 + 200,000) / 2

Average Inventory= 354,000 / 2

Average Inventory= 177,000

Now let determine the Merchandise Inventory Turnover using this formula

Merchandise Inventory Turnover = Cost of goods sold/ Average Inventory

Let plug in the formula

Merchandise Inventory Turnover= 1,750,000 / 177,000

Merchandise Inventory Turnover= 9.89 times

Therefore Assuming that the merchandise inventory buildup was relatively constant, the merchandise inventory turn over during 2019 is 9.89 times

M. Poirot wishes to sell a bond that has a face value of $1,000. The bond bears an interest rate of 11.28% with bond interest payable semiannually. Six years ago, $979 was paid for the bond. At least a 12% return (yield) on the investment is desired. The minimum selling price must be: Enter your answer as follow: 1234.56

Answers

Answer:

M. Poirot

The minimum selling price must be:

= $2,065.09.

Explanation:

a) Data and Calculations:

Face value of bond = $1,000

Interest rate = 11.28%

Interest payment = semiannually

Price of bond six years ago = $979

Desired return (yield) rate = 12%

Minimum selling price can be determined as follows:

N (# of periods)  12

I/Y (Interest per year)  12

PV (Present Value)  979

PMT (Periodic Payment)  5.64

Results

FV = $2,065.09

Sum of all periodic payments $67.68

Total Interest $1,018.41

Direct Labor Variances The following data relate to labor cost for production of 20,000 cellular telephones: Actual: 8,450 hrs. at $22.50 Standard: 8,400 hrs. at $23.00
a. Determine the direct labor rate variance, direct labor time variance, and total direct labor cost variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number. Rate variance $ Time variance $ Total direct labor cost variance $
b. The employees may have been less-experienced or poorly trained, thereby resulting in a labor rate than planned. The lower level of experience or training may have resulted in efficient performance. Thus, the actual time required was than standard.

Answers

Answer and Explanation:

The computation is given below:

a)  

Direct labor rate variance = (Actual rate - Standard rate) × Actual hours  

= ($22.50 - $23) × 8,450 hours

= -$4,225.00 Favorable

Direct labor time variance = (Actual hours - Standard hours) × Standard rate  

= (8,450 hours - 8,400 hours) × $23

= $ 1,150.00 Unfavorable

Total direct labor cost variance is

= Direct labor rate variance + Direct labor time variance  

= $4,225 Favorable + $1,150 Unfavorable

= -$3,075.00 Favorable

b.  In the case when the employees are not much experienced or they are poorly trained so the less experience cause to less performance due to which the actual time needed should be more than the standard one

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