Answer:
c. Greenleaf
Explanation:
Servant leadership is a type of leadership in which the individual interact with each other it could be either management or fellows employees with a motive to accomplish an authority instead of power. Also it follows that organization structure which is decentralized
And, the first paper with respect to the servant leadership was wrote by Green leaf and the same is to be considered
Hence, the correct option is C.
Gabi Gram started The Gram Co., a new business that began operations on May 1. The Gram Co. completed the following transactions during its first month of operations.
May 1 G. Gram invested $43,500 cash in the company in exchange for its common stock.
1 The company rented a furnished office and paid $2,400 cash for May’s rent.
3 The company purchased $1,940 of office equipment on credit.
5 The company paid $780 cash for this month’s cleaning services.
8 The company provided consulting services for a client and immediately collected $5,300 cash.
12 The company provided $2,400 of consulting services for a client on credit.
15 The company paid $790 cash for an assistant’s salary for the first half of this month.
20 The company received $2,400 cash payment for the services provided on May 12.
22 The company provided $3,200 of consulting services on credit.
25 The company received $3,200 cash payment for the services provided on May 22.
26 The company paid $1,940 cash for the office equipment purchased on May 3.
27 The company purchased $80 of office equipment on credit.
28 The company paid $790 cash for an assistant’s salary for the second half of this month.
30 The company paid $300 cash for this month’s telephone bill.
30 The company paid $250 cash for this month’s utilities.
31 The company paid $1,600 cash in dividends to the owner (sole shareholder).
Prepare the statement of cash flows for the month of May. Complete this question by entering your answers in the tabs below Income State Prepare the income statement for May Balance State Sheetof Cash GRAM Income Statement For Month Ended May 31 Total expenses Income Statement Statement of Retained Earnings>
Answer:
Gram Co.
Statement of cash flows
For the month ended May 31, 202x
Cash flows from operating activities:
Net income $5,590
Adjustments to net income:
Increase in accounts payable $80
Net cash flow from operating activities $5,670
Cash flows from investing activities:
Purchase of office equipment ($2,020)
net cash flow from investing activities ($2,020)
Cash flows from financing activities:
Issuance of common stock $43,500
Paid dividends ($1,600)
Net cash flow from financing activities $41,900
Net cash increase during May $45,550
Initial balance of cash account $0
Ending balance of cash account (5/31) $45,550
Explanation:
operating cash flows:
rent expense ($2,400)
cleaning services ($780)
service revenue $5,300 + $2,400 + $3,200
assistant's salary ($790)
accounts payable increased by $80
assistant's salary ($790)
utilities bill ($550)
total revenue = $10,900
total expenses = $5,310
net income = $5,590
investing cash flows:
purchased equipment for $1,940
purchased office equipment $80
financing cash flows:
Issuance of common stock $43,500
paid dividends ($1,600)
Which of the following is applicable to the Nasdaq PHLX?a. Regional exchange operated by NASDAQb. Offers trading in equity securities and options contractc. Is a completely electronic exchange with no physical trading floord. Regional exchange operated by FINRA for the execution of OTC stock only
Answer: a. Regional exchange operated by NASDAQ
b. Offers trading in equity securities and options contract.
Explanation:
Out of the options given, the correct answers are a and b. The options that are applicable to Nasdaq PHLX are:
Regional exchange operated by NASDAQ
b. Offers trading in equity securities and options contract.
It should be noted that the PHLX is simply a regional exchange which is being monitored and managed by NASDAQ. Furthermore, the equity securities and options contract are being traded on floor and electronically.
Alice deposits $2000 at time 0 under a nominal interest rate 6% compounded monthly for two years. And the end of the first year she deposit another $3000 under a nominal interest rate 7% compounded quarterly for one year. What is the equivalent annual effective interest rate for these two deposits over the first two years (i.e. the rate under which Alice would have the same total balance at time 2)
Answer:
effective rate of 6.59%
Explanation:
First, we solve for the amount after 2-years
[tex]2,000 \times (1 +\frac{0.06}{12}) ^{2 \times 12})+ 3,000 (1+\frac{0.07}{4})^4=[/tex]
[tex]Principal \: (1+ r)^{time} = Amount[/tex]
Principal 2,000.00
time 24.00
rate 0.00500
[tex]2000 \: (1+ 0.005)^{24} = Amount[/tex]
Amount 2,254.32
[tex]Principal \: (1+ r)^{time} = Amount[/tex]
Principal 3,000.00
time 4.00
rate 0.01750
[tex]3000 \: (1+ 0.0175)^{4} = Amount[/tex]
Amount 3,215.58
Total: 2,254.32 + 3,215.58 = 5,469.90
Now, we solve for the effective rate:
[tex]2,000(1+r_e)^2 + 3,000(1+r_e) - 5,469.90 = 0[/tex]
We use the quadratic formula and find the roots:
2.5658882124183746
1.0658882124183746
we use the positive one.
Getting an effective rae of 6.59%
Excerpt from Areojet Corporation records for month of February: Per Unit Per Month Selling price $ 200,000 Direct materials used in production 40,000 Direct labor 10,000 Variable manufacturing overhead 2,000 Fixed manufacturing overhead $ 140,000 Variable selling and administrative expenses 20,000 Fixed selling and administrative expenses 40,000 Assuming the absorption costing method is used, what is the total manufacturing costs added to work in process during the month of February
Answer:
Work in process= $192,000
Explanation:
Giving the following information:
Direct materials used in production 40,000
Direct labor 10,000
Variable manufacturing overhead 2,000
Fixed manufacturing overhead $ 140,000
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Work in process= 40,000 + 10,000 + 2,000 + 140,000
Work in process= $192,000
Limit pricing will effectively deter entry when:________.
A. the incumbent links the pre-entry price to post-entry profits.
B. the incumbent has incomplete information.
C. the entrant must commit to enter the market.
D. All of the statements associated with this question are correct.
Answer:
A. the incumbent links the pre-entry price to post-entry profits.
Explanation:
Only when the pre-entry price (which is a threat for the entrant) is low enough and at the same time can give post entry profits, will the incumbent’s plan be successful and would deter entry. However, A limit pricing is a technique used by some major producers, in which they sell their goods or services at such low prices that and makes it difficult for any other firm to enter his market as it makes their entry extremely unprofitable.
Consider an investment opportunity set formed with two securities that are perfectly negatively correlated. The global minimum-variance portfolio has a standard deviation that is always _________.
A.) equal to -1
B.) greater than 0
C.) equal to the sum of the securities' standard deviations
D.) equal to 0
Answer:
D.) equal to 0
Explanation:
If a portfolio is made up of two securities that are perfectly negatively correlated, meaning that if one increases its value, the other one will decrease in the exact opposite way, the standard deviation of the portfolio will always be 0. You can determine the variance for each stock, but due to the perfectly negative correlation, they will cancel out.
which of the following statements is true of entrepreneurship?
Entrepreneurs often work long hours and must take on the financial responsibilities of the business.
g You are considering the purchase of an industrial printer for your business. The salesman states that you can purchase the printer today for $92,000 or pay nothing today and make monthly installment payments of $1,910 for 5 years. Your company's current financing rate is 7.00% annually. What is the present value of the monthly payment plan and which payment option should you choose
Answer and Explanation:
The computation is shown below:
First we have to find the present value based on monthly payment i.e. to be determined by using the present value formula and the same is to be shown in the attachment
Given that,
Future value = $0
Rate of interest = 7% ÷ 12 months = 0.58333%
NPER = 5 years × 12 months = 60 months
PMT = $1,910
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after applying the above formula, the present value is $96,458.90
As it can be seen than the lumpsum amount i.e. $92,000 is less than the monthly payment present value so here the lumpsum option should be chosen.
QUESTION 1 The country Grupindor recently experienced a drastic increase in inflation. This led to the depreciation in the value of its currency and affected trade and business drastically. In the context of the general environment, this scenario best illustrates the effect of the _____ on organizations. a. sociocultural aspect of the country b. political condition of the country c. technological changes in the country d. economy of the country
Answer:
Option d (economy of the country) is the appropriate answer.
Explanation:
Along with many other things, the economy of such a given country is regulated by its society, rules, history, as well as geography, and then it develops out of requirement. This example better shows the operational effects of the country's economy although inflation continues threatening the position due to certain external causes and leading to a decrease in present value.Some other options offered aren't relevant to the situation described. For the aforementioned to be the right answer.
Managers are constantly seeking out new tools to meet new challenges. Indicate which tool is more or less popular among today’s managers.a. Change management programs b. Outsourcing
Answer:
Outsourcing is more popular and management program is less popular.
Explanation:
Change in management program is less popular while the Outsourcing is more popular because the raking outsourcing is 5 and the ranking of change in management is 9 in the global ranking. Moreover, the manager always looks at two important factors, the needs of the customers and the demands of the environment. These two factors are always helpful for looking at new approaches and techniques.
For Gee-Whiz Devices calculate the following: working capital, current ratio, and acid-test ratio Gee-Whiz Devices Balance Sheet Data Cash Market securities Net accounts and notes receivable Retailers inventories Prepaid expenses Accounts and notes payable (short-term) Accrued expenses $100,000 45,000 150,000 200,000 8,000 315,000 90,000
Answer:
1. Working Capital
= Current Assets - Current Liabilities
= ( Cash + Marketable Securities + Net accounts and notes receivable + Retailers Inventories + Prepaid expenses) - ( Accounts and notes payable(Short term) + Accrued expenses)
= ( 100,000 + 45,000 + 150,000 + 200,000 + 8,000) - ( 315,000 + 90,000)
= $98,000
2. Current Ratio
= Current Assets/ Current Liabilities
= ( Cash + Marketable Securities + Net accounts and notes receivable + Retailers Inventories + Prepaid expenses) / ( Accounts and notes payable(Short term) + Accrued expenses)
= ( 100,000 + 45,000 + 150,000 + 200,000 + 8,000) / ( 315,000 + 90,000)
= 1.24
3. Quick Ratio
= (Current Assets - Inventory) / Current Liabilities
= ( 100,000 + 45,000 + 150,000 + 8,000) / ( 315,000 + 90,000)
= 0.75
For large interest rate increases, duration _____ the fall in security prices and for large interest rate decreases, duration _____ the rise in security prices. a. Overpredicts, underpredicts b. Underpredicts, underpredicts c. Overpredicts, overpredicts d. Underpredicts, overpredicts
Answer:
a. Overpredict, underpredict
Explanation:
Interest rate in domain of finance always bring a check to the economic growth, then the cost of borrowing will be forced to go up.
On the other hand when the interest rate decreases, the cost of borrowing is becomes low, and with this the interest that a consumer will pay will be low then they have much at hand.
It should be noted that For large interest rate increases, duration overpredict the fall in security prices and for large interest rate decreases, duration underpredict the rise in security prices
Suppose the production function is Q = min {K, 2L}. How much output is produced when 4 units of labor and 9 units of capital are employed?a) 2b) 4c) 8.d) 9
Answer:
poj
Explanation:
uiuy
Stephan is the plaintiff in a negligence action against Viola. The jury determines that Stephan has suffered $250,000 in damages, but that he is 20% responsible for his own injuries. Under comparative negligence, how much money would Viola have to pay Stephan in damages? What if the jury determines that Stephan is 60% responsible? Explain the different results under pure and mixed comparative negligence rules.
Answer:
a. Under comparative negligence, the amount Viola have to pay Stephan in damages is $200,000.
b(i). Under pure comparative negligence, the amount Viola have to pay Stephan in damages is $100,000.
b(ii). Under mixed comparative negligence, the amount Viola have to pay Stephan in damages can be $100,000 or $0.
Explanation:
a. The jury determines that Stephan has suffered $250,000 in damages, but that he is 20% responsible for his own injuries. Under comparative negligence, how much money would Viola have to pay Stephan in damages?
Under a comparative negligence, the amount of damages that the plaintiff will receive is reduced to the percentage of fault of the defendant.
Based on this, the amount Viola have to pay Stephan in damages is 80% (i.e. 100% - 20%) of $250,000. Therefore, we have:
Amount Viola have to pay Stephan in damages = 80% * $250,000 = $200,000
b. What if the jury determines that Stephan is 60% responsible? Explain the different results under pure and mixed comparative negligence rules.
b(i) Pure Comparative Negligence is a rule that gives the plaintiff the opportunity to recover damages that is exactly equal to the percentage of fault of the defendant whether or not the fault of the plaintiff is greater than the fault of the defendant.
Under pure comparative negligence rule, the amount Viola have to pay Stephan in damages is therefore 40% (i.e. 100% - 40%) of $250,000. Therefore, we have:
Amount Viola have to pay Stephan in damages under pure comparative negligence rule = 40% * $250,000 = $100,000
b(ii) Mixed Comparative Negligence is a rule under which the plaintiff may receive only a percentage of damages of the defendant, or none at all if the percentage of fault of the plaintiff is 50% or more than 50% of the total fault.
Thereforem, if it is determined that the amount Viola have to pay Stephan in damages is exactly equal to the percentage of fault of the defendant, the amount Viola have to pay Stephan in damages is therefore 40% (i.e. 100% - 40%) of $250,000. Therefore, we have:
Amount Viola have to pay Stephan in damages under pure comparative negligence rule = 40% * $250,000 = $100,000.
However, it it determined the plaintiff should be paid not damages, Viola have to pay Stephan $0 amoun in damages.
Therefore, under mixed comparative negligence, the amount Viola have to pay Stephan in damages can be $100,000 or $0.
Pricing Stock Issues in an IPO Zang Industries has hired the investment banking firm of Eric, Schwartz, & Mann (ESM) to help it go public. Zang and ESM agree that Zang's current value of equity is $60 million. Zang currently has 3 million shares outstanding and will issue 1.6 million new shares. ESM charges a 9% spread. What is the correctly valued offer price? Do not round intermediate calculations. Round your answer to the nearest cent. $ How much cash will Zang raise net of the spread? Enter your answer in millions. For example, an answer of $1.234 million should be entered as 1.234, not 1,234,000. Do not round intermediate calculations. Round your answer to three decimal places. $ million
Answer:
A. $ l19.08
B. $27,780,480
Explanation:
A. Calculation for the correctly valued offer price
Using this formula
Correctly Valued Offer Price = Current Value of Equity/[(Number of new share issued*Spread)+ Number of Outstanding shares)
Let plug in the formula
Correctly Valued Offer Price= 60,000,000/[(1, 600,000*9%)+3,000,000]
Correctly Valued Offer Price=60,000,000/(144,000+3,000,000)
Correctly Valued Offer Price= 60,000,000/3,144,000
Correctly Valued Offer Price= $ 19.08
Therefore the correctly valued offer price will be
$ 19.08
B. Calculation for How much cash will Zang raise net of the spread
Using this formula
Cash Raised net of Spread = Valued offer price(1-spread)*No. of new share issued
Let plug in the formula
Cash Raised net of Spread = 19.08(1-0.09)*1,600,000
Cash Raised net of Spread =(19.08*091)*1,600,000
Cash Raised net of Spread =17.3628*1,600,000
Cash Raised net of Spread =$27,780,480
Therefore Cash Raised net of Spread will be $27,780,480
Typically, low inflation is a sign of A. healthy economy because it results from a steady rise in demand. B. healthy economy because it results from a steady rise in supply. C. struggling economy because it results from a steady fall in demand. D. struggling economy because it results from a steady fall in supply.
A. a healthy economy because it results from a steady rise in demand.
Typically, low inflation is a sign of a healthy economy because it results from a steady rise in demand. Hence, option A is correct.
What is a healthy economy?The following three factors are present in a steady-state traditional economy: Systemic strength: Low wealth and commerce concentrations, Consistent consumer pricing and widespread and recursive market involvement are examples of stable microeconomic conditions.
There are numerous indicators of a thriving economy. Low unemployment, stable inflation, an increase in the building of new homes, optimism in the consumer confidence index, and rising gross domestic product (GDP) are a few of these.
Growth, high employment, and price stability are the three common objectives of all economies. Growth. An economy delivers goods and services to its population, and economists use the gross domestic product (GDP), which represents the market value of all the goods and services the economy produced during a given year, to assess how well it is performing.
Thus, option A is correct.
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Kieso Company borrowed $680,000 for six months. The annual interest rate on the loan was 9%. Kieso's fiscal year ends on December 31. Kieso borrowed the $680,000 one month prior to the end of its last fiscal year and paid the $680,000 plus interest back five months into its current fiscal year. How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year?
Answer:
How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year?
at the end of the last fiscal year Kieso must report $5,100 in interest expenseat the end of the current fiscal year Kieso must report $25,500 in interest expenseExplanation:
Assuming that Kieso borrowed the money on November 30, the journal entry should be:
Dr Cash 680,000
Cr Notes payable 680,000
On December 31, an adjusting journal entry to record accrued interests must be made:
Dr Interest expense 5,100
Cr Interest payable 5,100
When Kieso paid back the debt on April 30, the journal entry should be:
Dr Notes payable 680,000
Dr Interest payable 5,100
Dr Interest expense 25,500
Cr Cash 710,600
SDJ, Inc., has net working capital of $2,060, current liabilities of $5,550, and inventory of $1,250. What is the current ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Current ratio times What is the quick ratio? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Quick ratio times
Answer: Current ratio = 1.37
Quick ratio = 1.15
Explanation:
The following can be deduced from the question:
Current assets is the addition of the net working capital and the current liabilities. This will be:
= $2060 + $5550
= $7610
The Current ratio will be the current assets divided by the current liabilities. This will be:
= $7610/$5550
Current ratio = 1.37
Quick ratio will be the subtraction of invention form the current asset and the result gotten is divided by the current liabilities. This will be:
= ($7610 - $1250)/$5550
= $6360/$5550
= 1.15
Forum question 1: Do you know of a situation in which a female staff person is referred to by her first name only (e.g., “See Joan at the front desk”) but the higher-ranking employees are referred to by their first and last names (e.g., “Jim Smith in Tech Support can answer your question”)? What do you think of this practice? Is it ever acceptable? Forum question 2: If you see something misspelled, do you correct it? Discuss and support your answers with examples.
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what is
hotel management
Hotel management is a field of business and study, that tends itself to the operation aspects of a hotel as well as wide range of affiliated topics such as Accounting, administration, finance, information systems, human resources management, public relations and other more.
Following me and I hope you know this answer
AP Macro Topic 1.3 Comparative Advantage and Trade Part 1 - Mastering Skills- Answer the following questions to verify that you fully understand opportunity cost, absolute advantage, comparative advantage, and terms of trade. Units produced per hour Burgers Pizzas Bob 30 5 Frank 16 4 1. Is this an output problem or an input problem? 2. What is Bob’s opportunity cost of producing 1 pizza? 3. What is Frank’s opportunity cost of producing 1 burger? 4. What is Bob’s opportunity cost of producing 1 burger? 5. What is Frank’s opportunity cost of producing 1 pizza? 6. Who has the absolute advantage in producing burgers? 7. Who has the absolute advantage in producing pizzas? 8. Who has the comparative advantage in producing burgers? 9. Who has the comparative advantage in producing pizzas? 10. What would acceptable terms of trade be between Bob and Frank? Hours need
Answer:
1. It is an input problem (time).
2. Bob's opportunity cost of producing 1 pizza:
= 6 (12/2) burgers that it could have produced using 12 minutes it used to produce 1 pizza.
3. Frank's opportunity cost of producing 1 burger:
= 0.25 (3.75/15) pizzas that it could have produced using 3.75 minutes to produce 1 burger.
4. Bob's opportunity cost of producing 1 burger:
= 0.17 (2/12) pizzas that it could have produced using 2 minutes to produce 1 burger.
5. Frank's opportunity cost of producing 1 pizza:
= 4 burgers (15/3.75) that it could have produced using 15 minutes to produce 1 pizza.
6. Bob has the absolute advantage in producing burgers. It produces 30 burgers in 1 hour than Frank.
7. Bob has the absolute advantage in producing pizzas. It produces 5 pizzas in 1 hour than Frank.
8. Bob has the comparative advantage in producing burgers. It uses 2 minutes to produce 1 burger instead of Frank's 3.75 minutes.
9. Bob has the comparative advantage in producing pizzas. It uses 12 minutes to produce 1 pizza instead of Frank's 15 minutes.
10. The acceptable terms of trade would be for Bob to devote 2 hours in producing 60 burgers and selling to Frank while Frank produces 8 pizzas using 2 hours and selling to Bob. But, since Bob has absolute and comparable advantage over Frank in the production of the two items, it seems that Frank should allow Bob to produce them, while it devotes its hours in producing another product or service where it has comparative advantage.
Explanation:
a) Data and Calculations:
Units produced per hour
Burgers Pizzas
Bob 30 5
Frank 16 4
Minutes per unit:
Bob 2 12
Frank 3.75 15
Suppose good X and good Y are perfect complements to each other. The kinks of indifference curves are along the y=2x straight line. The consumer has a wealth level of 12. The price of good X is $2 and the price of good Y is $1. What is the consumer's utility maximization market basket?
Answer:
D. 3 Unit of goods x and 6 unit of good y
Explanation:
Option include as attached.
We have y = 2x
And budget constraint equation
PxX + PyP = M
2X + 1Y = 12
Now put y = 2x
2X + 2X = 12
4X = 12
X = 3
Y = 2X
Y = 2(3)
Y = 6
Wadding Corporation applies manufacturing overhead to products on the basis of standard machine-hours. For the most recent month, the company based its budget on 4,500 machine-hours. Budgeted and actual overhead costs for the month appear below: Original Budget Based on 4,500 Machine-Hours Actual Costs Variable overhead costs: Supplies $ 12,000 $ 12,730 Indirect labor 38,400 38,700 Fixed overhead costs: Supervision 20,600 20,240 Utilities 6,800 6,760 Factory depreciation 7,800 8,110 Total overhead cost $ 85,600 $ 86,540 The company actually worked 4,520 machine-hours during the month. The standard hours allowed for the actual output were 4,510 machine-hours for the month. What was the overall variable overhead efficiency variance for the month
Answer:
Variable overhead efficiency variance= $112 unfavorable
Explanation:
Giving the following information:
Estimated budget:
4,500 Machine-Hours
Supplies $ 12,000
Indirect labor 38,400
Total= $50,400
The company worked 4,520 machine-hours during the month.
The standard hours allowed for the actual output were 4,510 machine-hours for the month.
First, we need to calculate the predetermined variable overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 50,400/4,500
Predetermined manufacturing overhead rate= $11.2 per machine hour
Now, to calculate the variable overhead efficiency variance, we need to use the following formula:
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Variable overhead efficiency variance= (4,510 - 4,520)*11.2
Variable overhead efficiency variance= $112 unfavorable
PLEASE HELP ME ASAP.
Suppose you put $150 in the bank 1 year ago. A sign at the bank reads 2% simple annual interest. Fill in the values to complete the table.
Answer:
1 a year
Explanation:
The calculation of a loan's interest rate can be done quickly and simply using simple interest. The daily rate of interest, the principle, and the number of days between payments are multiplied to determine simple interest.
To calculate simple interest, multiply the daily rate of interest by the principle and the number of days between payments. Consumers who pay their loans off on time or ahead of schedule each month benefit from simple interest.
Although some mortgages employ this calculation approach, this kind of interest typically relates to auto loans or short-term loans.
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Which of these is not a result of regular exercise?
a) Preventing weight gain
b) Causing your heart to wear out faster
c) Helping reduce your stress levels
d) Helping you to stay mentally alert
please help asap
Which one of the following statements are correct? I-The socialism system is the precursor to feudalism II- The invisible hand doctrine suggests that total economic surplus of society is maximized III- The government tax break given when buying an electric car is an example of indicative planning IV- A statement that involves priorities and value judgments is generally regarded as a normative statement
Answer: II, III, IV
Explanation:
Of the options, the correct statements are:
II- The invisible hand doctrine suggests that total economic surplus of society is maximized
III- The government tax break given when buying an electric car is an example of indicative planning
IV- A statement that involves priorities and value judgments is generally regarded as a normative statement.
The invisible hand simply has to do with the unseen forces that have an impact and control the free market economy. It should also be noted that the socialism system is not the precursor to feudalism.
Sawyer Company had the following information for the year: Direct materials used $ 197,700 Direct labor incurred (7,600 hours) $ 248,100 Actual manufacturing overhead incurred $ 335,000 Sawyer Company used a predetermined overhead rate using estimated overhead of $382,500 and 8,500 estimated direct labor hours. Assume the only inventory balance is an ending Finished Goods Inventory balance of $9,400. What was adjusted cost of goods sold
Answer:
adjusted cost of goods sold is $771,400.
Explanation:
Predetermined Overheads = Estimated Overheads ÷ Estimated Activity
= $382,500 ÷ 8,500
= $45
Calculate the Manufacturing Cost
Direct materials $ 197,700
Direct labor $ 248,100
Applied Overheads (7,600 × $45) $342,000
Cost of Goods Manufactured $787,800
Calculate the Cost of Sales
Beginning Finished Goods Inventory $0
Add Cost of Goods Manufactured $787,800
Less Ending Finished Goods Inventory ($9,400)
Cost of Goods Sold $778,400
Adjust the Cost of Sales
Applied Overheads : $342,000 > Actual Overheads $ 335,000, we say that overheads are over-applied.
Therefore,
Cost of Goods Sold $778,400
Less Overheads over-applied ($342,000 - $ 335,000) ($7,000)
Adjusted Cost of Goods Sold $771,400
1. Economics is a social science concerned with: A. The best use of scarce resources to achieve the maximum satisfaction of economic wants. B. Increasing the level of productive resources so there is a minimum level of income. C. Increasing the level of productive resources so there is maximum output in society. D. The best use of scarce resources paid for at the minimum level of cost to consumers and businesses
Answer:
A. The best use of scarce resources to achieve the maximum satisfaction of economic wants
Explanation:
Economics is a social science where by scarced resources is Been judiciously utilized in the production of goods and services for human satisfaction, because human wants are so numerous.
Among the different economic system that is used in the world today are capitalism ,socialism and communism,
Samuelson was regarded as the father of modern economics.
Which of the following statements about bribery is most accurate? Question 49 options: Bribes, kickbacks, and payoffs offered to entice someone to commit an illegal or improper act are deemed corrupt in some cultures but not in others. The world's major exporting nations have agreed to treat bribery of foreign government officials as a violation of trade agreements. Bribes paid to foreign companies are in some cases a tax-deductible expense in the United States. It is a crime for U.S. corporations to bribe an official of a foreign government or political party unless preapproved by the Federal Trade Commission. It is illegal for a U.S. corporation to bribe an official of a foreign government or political party to obtain or retain business in a foreign country.
Answer:
It is illegal for a U.S. corporation to bribe an official of a foreign government or political party to obtain or retain business in a foreign country.
Explanation:
You are considering an investment in Roxie's Bed & Breakfast Corp. During the last year, the firm's income statement listed an addition to retained earnings of $8.40 million and common stock dividends of $2.80 million. Roxie's year-end balance sheet shows common stockholders' equity of $41.6 million with 16 million shares of common stock outstanding. The common stock's market price per share was $9.60. What is Roxie's Bed & Breakfast's book value per share
Answer:
$2.6 per share
Explanation:
Roxie bed and breakfast corporation had a retained earnings of $8.40 million
The common stock dividend is $2.80 million
The year end balance sheet shows a common stock equity of $41.6 million and common stock outstanding of 16 million
Therefore Roxie's bread and breakfast book value per share can be calculated as follows
= common stockholders equity / common stock outstanding
= 41,600,000/16,000,000
= $2.6 per share
Hence Roxie's bread and breakfast book value is $2.6 per share
