Lenders analyse mortgage applications and consider a variety of elements, including a stable income, minimal debt load, and an overall favourable credit history.
Let's start by taking a look at the main criteria that lenders use to determine whether or not you qualify for a mortgage. To a large extent, your income, debt, credit score, assets, and type of property all affect whether you are approved for a mortgage. When setting interest rates, lenders take into account factors including your credit score, payment history, and the state of the economy. Generally speaking, the better your credit score, the lower interest rates you can anticipate. According to the Act, borrowers must receive timely and relevant disclosures on the details and costs of the real estate settlement process from lenders, mortgage brokers, or loan servicers.
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During 2016 Green Thumb Company introduced a new line of garden shears that carry a two-year warranty against defects. Experience indicates that warranty costs should be 2% of net sales in the year of sale and 3% in the year after sale. Net sales and actual warranty expenditures were as follows:
A new brand of garden shears with a two-year warranty against faults was introduced by Green Thumb Company in 2016.
What is in a garden?
The majority of gardens are made up of both natural and man-made components, however even the most "natural" gardens are always the result of artificial design. The main natural components of a garden include soil, water, air, light, flora (such as trees and weeds), fauna (such as arthropods and birds), and dirt. labouring in a garden, tending to the plants' growth and maintenance, and keeping it attractive: Gardening has always been a hobby for my mother. gloves for gardening.
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at what price or prices would the school collect $0 revenue from raffle sales? explain or show your reasoning.
At $0 and $ 40 the school collect $0 revenue from raffle sales from selling raffle tickets at p dollars each.
given data:
The expressions are p(200-5p)and 200p-5p2.
the revenue will be R(p) = p(200 - 5p).
let R(p) = 0.
So, p(200 - 5p) = 0
p = 0 or 200 - 5p = 0
p = 0 or 200 = 5p
p = 0 or p = 200/5 = 40
Revenue is the money made from regular business operations and is determined by multiplying the average sales price by the quantity of units sold. In order to calculate net income, costs must be deducted from the top line (or gross income) figure. On the income statement, revenue is also known as sales. The money earned from regular company activities is known as revenue, sometimes known as sales or the top line. Operating expenditures minus revenue equals operating income.
Non-operating revenue is sporadic or irregular money that comes from other sources. Governments, charities, and other non-profit organisations, as well as private persons, all record revenue, albeit the methods and sources used vary. Revenue just includes the revenues from sales; income and profit also include the costs incurred in order to produce revenue and disclose net earnings.
the complete question will be:
The expressions p(200-5p)and 200p-5p2define the same function. The function models the revenue a school would earn from selling raffle tickets at p dollars each.
At what price or prices would the school collect $0 revenue from raffle sales? Explain or show your reasoning.
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you are a project manager for a large construction company. your company has an established contract with a local building supply company for the majority of the materials that you use on your projects. your senior management has assigned you to a fairly aggressive project and has signed off on the project charter. your first task is to begin identifying potential stakeholders for this project. which activity should you perform?
You are a project manager for a large construction company. Your first task is to begin identifying potential stakeholders for this project. Organize meeting activity should you perform.
What is the significance of meeting planning?Meetings help people share ideas, make decisions, build team relationships, and even feel less alone at work by providing a valuable forum for a variety of functions.
What does organizing accomplish?The various departments of the organization can better coordinate and communicate with one another by organizing. Through structural relationships, various positions and jobs are connected to one another. It specifies the communication channel and method for each member.
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roger company produces beach balls and operates three shifts. roger produces 5,000 balls per shift on shifts 1 and 2. on shift 3, the company can produce 6 times as many balls as on shift 1. assume a 5-day workweek. how many beach balls does roger produce per week and per year?
Per Week: 45,000 beach balls Per Year: 2,340,000 beach balls does roger produce per week and per year.
What is production?Production is the process of creating and assembling goods and services that are intended for sale or distribution. It involves combining raw materials, labor, and machinery, as well as other elements, to create a final product. Production planning is a key component of the production process, as it helps to ensure that all resources are used efficiently. The production process also includes quality control efforts to ensure that the final product meets customer expectations. Production can be done on a large scale, such as in a factory, or on a smaller scale, such as in a home workshop.
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which skill is not important for an evidence-based practice project team?
For a team working on an evidence-based practice project, the ability to run statistical analyses is not crucial.
What is statistical analysis?Finding patterns and trends requires the collection and evaluation of data for statistical analysis. It falls under data analytics. Statistical analysis is sometimes used to create surveys and studies, get research interpretations, or model statistics.There are basically two kinds of statistical analysis: Descriptive statistics describe and illustrate the data you have, whereas inferential statistics extrapolates your data across a larger population.Businesses can save costs and boost production by using statistical analysis, among other benefits.Massive amounts of data must be collected, examined, and presented in order to identify underlying patterns and trends. In order to make decisions more scientifically, statistics are employed daily in study, industry, and government.The complete question is:
Which skill is not important for an evidence-based practice project team?
A) Ability to perform statistical analyses
B) Implementing organizational change
C) Critical appraisal of evidence
D) Database searching
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bill matthews is investing $11,600 in the washington mutual fund. the fund charges a 5.75 percent commission when shares are purchased. calculate the amount of commission bill must pay.
Answer:
Explanation:
The amount of commission Bill must pay is $668.00. This is calculated by multiplying the amount invested ($11,600) by the commission rate (5.75%) to get the commission amount ($668.00).
what is the marginal product of the first worker? the second worker? the third worker? why does marginal product decline as the number of workers increases?
The total production when the business hires one person will be subtracted from the entire output when the employees and ensuring no employees in order to determine the surplus value of the first worker.
What is indicated by the phrase "marginal product"?The marginal revenue product of the source is the gaining greater that results from adding one item of a feedback this instance, labor—to the present combination of active components.
In economics, and notably neoclassical economics, the marginal revenue product or marginal value profitability of a feedback (factor of production) is the alteration in output that happens when utilising one more unit of a given input (for instance, the output shift when a firm's labor is risen from five to six units).
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A price ceiling causes consumer surplus to O decrease O increase.O move to equilibrium.
A price ceiling causes consumer surplus to decrease
Hence, Option A is correct
Therefore, price ceilings transfer a portion of producer surplus to consumers, which helps to explain why consumers frequently favor them. On the other hand, price floors transfer some consumer surplus to producers, which explains why they are frequently preferred by them. A price can't increase above a certain point thanks to price ceilings. When a price ceiling is set below the equilibrium price, there will be excess demand or shortages because there will be more demand than supply.They are one way prices are controlled. Price ceilings have complicated long-term effects, even though they frequently benefit consumers in the short term. Due to supply shortages and a decline in the quality of goods and services, they can have a negative impact on producers and occasionally even the consumers they are trying to help.
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horatio works as a parking attendant at a municipal parking lot. he monitors the parking lot to prevent vandalism and theft, collects fees from motorists, and makes periodic rounds to check for expired permits. these duties would be considered as
He collects fees from drivers, keeps an eye on the parking to deter theft and damage, and performs occasional rounds to check for expired permits. These tasks would be seen as being performed in a routine manner.
Which of the subsequent actions is counterproductive?Counterproductive workplace behaviors include stealing, fraud, sexual harassment, workplace bullying, absenteeism, drug use, violence at work, and sabotage, to name a few.
The big five personality traits of extraversion, agreeableness, conscientiousness, emotional stability, and openness to experience have a direct and positive impact on organizational citizenship conduct.
The phrase "citizenship behavior" describes employee actions that are optional, may or may not be rewarded, and assist the company by improving the working environment.
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He collects payments from vehicles, keeps an eye on the parked to deter theft and damage, and performs occasional trips to check for outdated permits. These tasks would be seen as be performed in a straightforward fashion.
Which of the below behaviors is counterproductive?Counterproductive work behaviors include stealing, fraud, sexual harassment, workplace bullying, truancy, drug use, brutality at work, and sabotage, to list a few.
The big five personality qualities of openness to experience, emotional stability, social competence, emotion regulation, and willingness to learn have a direct and positive influence on organizational citizenship behaviors.
The phrase "citizenship behavior" defines employee actions that are voluntary, might or might not be rewarded, and benefit the company by improving the work atmosphere.
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growth of the supply chain management perspective in operations management results from the advent of:
The growth of the supply chain management perspective in operations management has been propelled by the emergence of new technologies and processes.
By utilizing automation, data analytics, and digital platforms, supply chain managers can now track and manage their operations more effectively and efficiently.
This has allowed them to optimize resources, reduce costs, and improve customer satisfaction.
Additionally, the use of artificial intelligence has enabled supply chain managers to gain more accurate insights into the data that drives their operations, ultimately leading to better decision making and improved performance.
The emergence of these new technologies and processes has revolutionized the way that supply chain managers operate, and has enabled them to become a powerful force in operations management.
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carefree, inc. has 20,000 shares issued and outstanding. on august 1, the board authorizes a 20% stock dividend. this is considered a (large/small)
Carefree, Inc. has 20,000 shares issued and outstanding. On August 1, the board authorised a 20% stock dividend. This is considered a small stock dividend.
A stock dividend is considered small if the shares issued are less than 25% of the total value of shares outstanding before the dividend. A journal entry for a small stock dividend transfers the market value of the issued shares from retained earnings to paid-in capital.
Stock dividends are common in corporate structures where the company doesn’t have enough cash or cash flow to pay investors. Instead of issuing cash dividends, the board of directors declares a stock dividend to keep investors happy. This way investors still get a return on their investment and the corporation doesn’t have to deplete its cash position. These dividends are also common in mergers and corporate restructuring deals.
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-------------------- correct question format is given below ------------------
(Que). Carefree, Inc. has 20,000 shares issued and outstanding. On August 1, the board authorised a 20% stock dividend. This is considered a (large/small) ____ stock dividend
Former House Speaker Paul Ryan's efforts to restrain government spending are an example of what kind of politics? A)Interest group B)Majoritarian C)Entrepreneurial D)Client E)Supply-side
Option E is correct. Former House Speaker Paul Ryan's efforts to curb government spending are an example of supply-side policy.
Supply-side economics is a macroeconomic theory that assumes that tax cuts, deregulation, and allowing free trade are the most effective ways to promote economic growth. According to the supply economy, consumers benefit from a greater supply of goods and services at lower prices, resulting in increased employment. Supply-side fiscal policy aims to increase aggregate supply relative to aggregate demand, thereby increasing production and employment while lowering prices.
Invest in human capital, such as education and health care, and promote the transfer of technology and business processes to improve productivity (output per worker). The promotion of globalized free trade through containerization is an important current example.
Tax cuts encourage people to work, invest and take risks. Examples of such measures include lowering income tax rates and eliminating or reducing customs duties.
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which of the following statements about ethical product/service design is not true? multiple choice question. customers should receive the value they expect. the pressure to reduce costs can have ethical implications. if a quality problem is not evident to the customer, it need not be taken care of. health and safety of employees and customers should be a primary concern.
Correct answer is C. if a quality problem is not evident to the customer, it need not be taken care of.
Services can't be inventoried. Service layout regularly focuses greater on intangible elements then does product design
Which of the following are now not section of the activities and responsibilities of product and carrier graph quizlet?Developing organizational strategy is not phase of the things to do and responsibilities of product and carrier design.
Which of the following is now not a factor reason for product or service design?Which of the following is no longer a reason for redesigning a product or service? A product or service redecorate does not always involve improving worker satisfaction
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https://brainly.com/question/1826222#SPJ4when consumers agree with the environmental stance a company takes, they are demonstrating [blank] . which answer best fills in the blank to complete the sentence?
When consumers agree with the environmental stance a company takes, they are demonstrating consumer acceptance.
What is a value proposition?A company's use of a business or marketing statement to succinctly explain why a customer should purchase a good or use a service. the method by which you forge a distinctive impression of a good or service in the mind of the customer.
It explains how the good or service outperforms rival goods and services. The value proposition provides an explanation for why a customer should hire or purchase from a company. As a result, the value proposition becomes an important factor in determining strategy.
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if you need your employees to take inventory and restock the store with the new inventory, what type of leadership style would be most appropriate? transformational leadership charismatic leadership transactional leadership
Authoritative Leadership
What is the best type of leadership style?Leadership that is transformative charismatic management transactional management
Authoritarian Management. The authoritative leader understands the purpose, is confident in achieving it, and enables team members to take leadership in the same way she does. The authoritative leader drives strategy with vision and inspires team members to use their abilities to develop as leaders themselves.
Transformational leadership is recognized as one of the most effective leadership approaches for motivating others to succeed. They do this by recognizing individual team members’ talents and shortcomings and understanding that each person works within their capacities.Transformational leaders excel in culture building, intellectual stimulation and individual support, modeling positive behaviors, vision-creation, and holding staff to high performance standards.
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LOTS OF POINTS AND WILL GIVE BRAINLEST!
Imagine that you have been tasked with creating an employee handbook for your business. Fortunately, you do not have to do it alone. You will have two co-workers helping you, one of whom works in human resources and is an expert on the regulations around employment. The other has been at the company for a long time and was added to the team because they know the culture of the company well. You are in charge of the project, so it is up to you to set up the project and manage it. Both of these employees have positions in the company that are unrelated to this project, so assume that they have other work to do as you set up the project. You have one month to deliver a final version of the manual.
As the project manager, you are responsible for the following:
Determining which topics the manual will cover
Delegating tasks on the team
Putting together a timeline with deadlines for the project
Getting a draft to the company president for approval a week before the due date
Creating a collaborative atmosphere in your group by setting ground rules
Setting ground rules is a good way to set the tone for the group. It means that everyone has agreed to maintain certain standards. They can cover anything from how you will communicate to the process for managing disagreements. You should have no more than five. Setting expectations for the group can go a long way toward building a collaborative atmosphere, so give it try!
It is now your task to put together a memo with the information to give to the other two employees. Imagine that you can consult them along the way and that they are comfortable with the decision you have made. This is a formal document, so make sure that the writing is clear and professional. It should also be free of typos and grammatical errors.
As the project manager, the sample memo to my two co-workers is given below:
The MemoSubject: Employee Handbook Project
Dear [HR Expert] and [Long-time Company Employee],
I am writing to inform you that we have been tasked with creating an employee handbook for our business. As the project manager, I will be responsible for determining which topics the manual will cover, delegating tasks, putting together a timeline with deadlines, and getting a draft to the company president for approval a week before the due date.
As a team, we will be working together to create a collaborative atmosphere by setting ground rules. These rules will cover things such as communication and the process for managing disagreements, and will be no more than five in total.
I would like to schedule a meeting with both of you in the next few days to discuss the project in more detail and to begin delegating tasks. In the meantime, please let me know if you have any questions or concerns.
Thank you for your time and assistance in this project. I am looking forward to working with you both.
Sincerely,
[Your Name]
Project Manager
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the goal of all individuals, for an econ point of view, is to maximize utility. we are trying to get all we can with the limited resources we have while at the same time attaining the greatest degree of satisfaction / pleasure from consuming an item or service. the utility maximizing rule is thus:
The law of diminishing marginal utility states that as more of the good is consumed, the additional satisfaction from a subsequent bite will eventually diminish. The marginal benefit comes from the satisfaction gained from each additional bite.
How does marginal utility work?The additional pleasure or benefit (utility) that a consumer receives by purchasing an additional unit of a product or service is referred to as "marginal utility" in economics.
In economics, the rule of thumb is that marginal utility is equal to the change in total utility divided by the change in the number of goods. The formula is as follows: The difference between the total utility and the number of goods is the marginal utility. the total happiness that consumer experiences when using a product, regardless of the level of consumption. The variation in a consumer's total utility when they consume an additional unit of a product is the marginal value. law of diminishing value for marginal utility
A marginal product is the additional product produced when an additional unit of input is added. To put it another way, the change in production output brought about by a change in production input is the marginal product.
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under variable costing, which of the following costs would be included in finished goods inventory?
a. neither variable nor fixed factory overhead cost
b. both variable and fixed factory overhead cost
c. only variable factory overhead cost
d. only fixed factory overhead cost
Under variable costing, c) only variable factory overhead cost would be included in finished goods inventory.
Under variable costing, only variable factory overhead costs are included in the calculation of the finished goods inventory.
This means that only costs that fluctuate depending on production volume are included, such as direct labor, direct materials, and certain variable overhead costs. T
hese costs are treated as expenses in the period they are incurred, rather than being capitalized into inventory. Variable costing can be more useful to management than absorption costing in decision-making, since it provides a clearer indication of profitability.
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productivity: multiple select question. is especially important for businesses that use a quality-based strategy. measures the effective use of resources. measures output relative to input.
Operations strategy is particularly important in this regard. Productivity relates to the effective use of resources, and it has a direct impact on competitiveness.
What is quality based strategy?When businesses want to improve their reputation in the marketplace, quality-based tactics are frequently employed. The core of these programmes is improving their product design and reducing faults. Programs like Six Sigma, and Total Quality Management are frequently used by businesses. Improved delivery for your clients. Customers directly profit when you produce your items better and better. A key competitive advantage that will give you the edge in the market is keeping your customers satisfied because they are more likely to return and recommend your company to others. When businesses want to improve their reputation in the marketplace, quality-based tactics are frequently employed.To learn more about quality based refer to:
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janet is a project manager for a multinational corporation. she has chosen the people for the project team roles identified in the resource management plan for a project developing a new accounting program. the team members are geographically dispersed across multiple continents. the communications management plan identifies the integrated nature of the technologies, including video and teleconferencing to be used by the team members when communicating amongst each other. what is a benefit to this type of team?
The communications management plan identifies the integrated nature of the technologies, including video and teleconferencing By making information sharing and task tracking easier, it keeps projects on schedule.
An effective communication management plan serves what purpose?How everyone working on a project may communicate effectively is described in a communication management plan. Each team member's communication-related duties can be laid out in the strategy, along with the most effective channels. Plans for managing communications are frequently an essential part of both project planning and management. At the individual, group, and organisational levels, communication management is crucial for success. It promotes the success of projects, fosters goodwill and reputation, and conveys an organization's steadiness and clarity.
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gap inc. ended its relationship with 23 foreign production facilities due to code violations. several closings occurred because of the use of child labor. in response to these events, gap inc. created a large team whose purpose is to travel worldwide to ensure compliance with its code of vendor conduct. this is an example of
Gap Inc. formed a sizable team in reaction to these occurrences with the mission of traveling all over the world to verify that its code of vendor behavior is being followed. this serves as an illustration of social responsibility.
What is meant by the phrase "social responsibility"?
Each person is responsible for carrying out their civic duties, and their deeds must benefit society as a whole, according to the ethical principle of social responsibility. In this way, a balance must be struck between economic progress and the welfare of society and the environment.
What are the benefits of social responsibility? It is what?
Accountability of an organization for how its decisions and actions affect people, the environment, and other stakeholders through transparency and moral conduct that: Advances social welfare and sustainable development, including health.
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given a takt time of 0.45 minute(s) and net daily production of 440 minutes, what is the maximum daily demand that can be satisfied using this production process? (
When the client demand is 520 units per day, the takt time will be 52753.8 seconds for a daily working shift of 10 hours with a 48-minute lunch break.
The German word "takt" is used to describe the words "clock," "bar," or "beat" (in music), "conductor's baton," and "metronome." In lean manufacturing, the average customer demand time for an item is referred to as Takt time. This explains how long the production process typically takes to complete. The measurement unit is "seconds per unit." Costs and inefficiencies associated with anticipating demand include: Obtaining and holding onto completed items and hasty procurement of raw materials. untimely wage payment. the cost of missed opportunities to produce other goods Purchasing excess capacity is expensive. When the client demand is 520 units per day, the takt time will be 52753.8 seconds for a daily working shift of 10 hours with a 48-minute lunch break.
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butterfly corp. manufactures products m1 and m2 from a joint process, which also yields a by-product, b1. butterfly accounts for the revenues from its by-product sales as other income. additional information follows: m1 m2 b1 total units produced 22,500 13,500 9,000 45,000 allocated joint costs ? ? ? $ 400,000 sales value at split-off $ 420,000 $ 280,000 $ 100,000 $ 800,000 required: assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product m1? (do not round intermediate calculations.)
M1 allocated joint cost=M1 net realizable value/total realizable value*total joint costs.
M1 net realizable value is 420,000 $
total realizable value is 800,000 $
total joint cost is $ 400,000
M1 allocated joint cost= 4,20,000/8,00,000*4,00,000
M1 allocated joint cost= 2,10,000 $ is the answer.
How do sales operate?A sale is an agreement that includes, among other things, the exchange of products or services for cash. A sale, then, is any action that involves giving the buyer ownership of a good or service in exchange for cash.
What does a salesperson do exactly?A sales representative, in the simplest terms, promotes the reputation of a firm and offers its products or services. They manage customer relationships and serve as the primary point of contact from the moment a lead is solicited until a transaction is completed.
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Business profits are dependent on the amount of revenue and expenses that a business experiences.
A.
True
B.
False
Answer: Yes, business profits are dependent on the amount of revenue and expenses that a business experiences.
Explanation:
Business profits, also known as net income or net profit, is calculated by subtracting total expenses from total revenue. If a business has more revenue than expenses, it will have a positive net income and be considered profitable. If expenses are greater than revenue, the business will have a negative net income and be considered unprofitable.
To increase profits, a business can focus on increasing revenue through sales or pricing strategies, or reducing expenses through cost-cutting measures. For example, a business may choose to increase the price of their products, invest in marketing to increase brand awareness and drive sales, or they may reduce costs by cutting back on unnecessary expenses such as office supplies or travel.
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At December 31, 2017, Hawke Company reports the following results for its calendar year.Cash sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,905,000Credit sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,682,000In addition, its unadjusted trial balance includes the following items.Accounts receivable . . . . . . . . . . . . . . . . . . . . . . . $1,270,100 debitAllowance for doubtful accounts . . . . . . . . . . . . . 16,580 debit1. Prepare the adjusting entry for this company to recognize bad debts under each of the following independent assumptions.a. Bad debts are estimated to be 1.5% of credit sales.b. Bad debts are estimated to be 1% of total sales.c. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible2. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2017, balance sheet given the facts in part 1a3. Show how Accounts Receivable and the Allowance for Doubtful Accounts appear on its December 31, 2017, balance sheet given the facts in part 1c.The adjusting entry passed to recognize bad debts is passed by debiting the bad debt expense and crediting the allowance for doubtful accounts.The balance of $1,204,450 is shown in accounts receivable in current assets after deducting the allowance for doubtful accounts.The balance of $1,206,595 is shown in accounts receivable in current assets after deducting the allowance for doubtful accounts.
An allowance for doubtful accounts is considered a “contra asset,” because it reduces the amount of an asset, in this case the accounts receivable.
Can you deduct allowance for doubtful accounts?The recognition of an allowance for doubtful accounts for financial statements reporting generally is not deductible for tax purposes. The allowance, sometimes called a bad debt reserve, represents management's estimate of the amount of accounts receivable that will not be paid by customers.The allowance for doubtful accounts is a reduction of the total amount of accounts receivable appearing on a company's balance sheet, and is listed as a deduction immediately below the accounts receivable line item. This deduction is classified as a contra asset account.When you create an allowance for doubtful accounts, you must record the amount on your business balance sheet. If the doubtful debt turns into a bad debt, record it as an expense on your income statement.To learn more about doubtful refer to:
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sarah secured a bank loan of $165,000 for the purchase of a house. the mortgage is to be amortized through monthly payments for a term of 15 years, with an interest rate of 3%/year compounded monthly on the unpaid balance. she plans to sell her house in 5 years. how much will sarah still owe on her house?
Sarah will continue to owing $63413.62 on her home. The majority of mortgage debts have been fully amortized.
Are mortgages amortized monthly?That indicates that they are repaid over a predetermined length of time in monthly payments. Mortgage amortization is a word used in finance to describe the process of paying down your mortgage. The mortgage lender establishes a payment schedule for you when you take out a mortgage. This uncomplicated schedule, which includes equal payments over the course of your loan if you have a new mortgage, is easy to understand.
If you make every payment as specified in your term loan's original schedule, you will have fully amortized the debt by the time the term is over.
Monthly payment = pmt = Loan/[(1-(1/(1+r^n)))/r]
= 165000/[((1-(1/(1.0025^180)))/0.0025]
= $1,139.46
Balance after 10 years = $63413.62
= 1139.46*((1-(1/(1.0025^60)))/0.0025)*0.0025
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Industries uses job costing to calculate the costs of its jobs with direct labor cost as its manufacturing overhead allocation base.
Miskimen estimates cost that next year's overheads will be $364,000. Also, he was projected to work 28,000 hours of direct work per year.
To calculate the estimated manufacturing overhead rate, you should use the following formula:
Estimated Manufacturing Burden Rate = Estimated Total Overhead Cost for Period / Total Allocation Basis Amount
Estimated manufacturing overhead rate = 364,000/28,000 = $13 per direct labor hour
Job 371 = 110 direct working hours
Allocation MOH = Estimated manufacturing overhead rate* Actual allocation base amount
Miskimen pays its employees directly an average of $26 per hour worked.
Job 371: Direct Materials = $15,500
use and 110 direct working hours
Total Cost = Direct Materials + Direct Labor + Allocated Overhead
TC = 15,500 + 110 * $26 + 1,430 = $19,790
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The complete question is:
Miskimen Industries uses job costing to calculate the costs of its jobs with direct labor cost as its manufacturing overhead allocation base. The company manufactures a variety of engines for use in farm equipment. At the beginning of the current year, Miskimen estimated that its overhead for the coming year will be $364,000. It also anticipated using 28,000 direct labor hours for the year. Miskimen pays its employees an average of $26 per direct labor hour. Miskimen just finished Job 371, which consisted of two engines for a farm equipment manufacturer. The costs and hours for this job consisted of $15,500 in direct materials used and 110 direct labor hours.
Requirements
1. What is Miskimen's predetermined manufacturing overhead rate based on direct labor cost?
2. Calculate the manufacturing overhead to be allocated based on direct labor costs to Job 371.
3. What is the total cost of Job 371?
how do customer expectations (represented by circles) change over time through movement on the perceptual map?
Your clients will come to demand smaller, quicker products over time. As a result, the segments shift or veer a little each month. The positions of the circles drastically shift over time.
What is called segment?
any of the sections or divisions into which something is naturally or artificially divided. 2.: a portion of a geometric figure that is divided by a line. especially: the region of a circle that is bounded by an arc and a chord. A market segment's typical attributes include its hobbies, way of life, age, gender, etc. Geographical, demographic, psychographic, and behavioural market segmentation are typical examples.A line segment in geometry has two different points on it that define its boundaries. A line segment is sometimes referred to as a section of a line that links two places.
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a building receives $100,000 in rental income in a year. the unoccupied units would bring in an additional $40,000 if they were occupied. what is the potential gross income of the building?
Building earns $100,000 in rental income per year. An unmanned unit, if manned, would cost $40,000 more. Total potential gross income of building would be $140,000 [income received + potential income = $100,000 + $40,000 = $140,000]
What does gross income mean?An individual's gross income is the amount of money earned before any deductions or taxes are deducted. Gross income includes wages, dividends, capital gains, business income, pension payments, and other income. Income adjustments include items such as faculty and staff expenses, interest on student loans, child support payments, and contributions to retirement accounts.
What is Net Income and Gross Income?Gross Income is what an employee earns before taxes, benefits, and other payroll deductions are deducted from their salary. The amount remaining after all withholding taxes have been deducted is Net Income
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The potential gross income of the building is $140,000.
What is gross income?Gross income refers to the total amount of income earned before any deductions or taxes are taken out. It is often used as a measure of financial performance and is the starting point for calculating net income. Gross income can come from a variety of sources such as wages, salaries, commission, rental income, interest, dividends, and capital gains. For an individual, gross income typically includes all forms of earned income, such as wages and salaries, as well as unearned income, such as interest and dividends. For a business, gross income includes all revenues generated by the company, such as sales and rental income. It's important to understand that gross income doesn't take into account any expenses or taxes, it's the total money earned before any deduction.
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At the end of the fiscal year, the balance in Factory Overhead is small. The balance will be Oa transferred to Finished Goods Ob. transferred to cost of Goods Sold Oc. transferred to Work in Process Od. allocated between Work in Process and Finished Goods
At the end of the fiscal year, the balance in Factory Overhead is small. The balance will be allocated between Work in Process and Finished Goods.
What is fiscal year?Government accounting, which differs between nations, and budgeting employ a fiscal year. Additionally, it is employed by companies and other organisations for financial reporting. Fiscal years and financial years are interchangeable. They are referring to the twelve-month window for filing financial statements. A 12-month period starting on January 1 and ending on December 31 is known as a calendar year. 12 consecutive months that conclude on the final day of any month, excluding December, constitute a fiscal year. A fiscal tax year that is 52 to 53 weeks long but does not necessarily end on the final day of a month is known as a 52-53 week tax year.
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