A fruit company sells oranges for 32 cents a pound plus $7.50 per order for shipping. If an order is over 100 pounds, shipping cost is reduced by $1.50. This program is supposed to ask the user for the number of pounds of oranges and then print the cost of the order, but it is all mixed up! Can you put the lines in the right order?

Answers

Answer 1

Answer:

def cost_of_order(amount):

        cost = amount * 32

        if amount <= 100:

                print (cost + 7.50)

        else:

                print(cost + 7.50 - 1.50)  

cost_of_order(10)

Explanation:

This question requires we write a code to get the cost of the order. The total cost of the order including the shipping cost . Let us use function to solve this and the code will be written in python .

def cost_of_order(amount):

The first line of code depict a function we declared and called it cost_of_order. The parameter is amount which is the weight of the oranges ordered in pounds.

cost = amount * 32

Now the cost of the orange will be the product of the weight in pounds and the price of each pound. The actual price of the product will be 32 multiply by the amount in pounds.

if amount <= 100:

This simply means if the amount in pounds of the orange is less or equal to 100 the next line of code we run

print (cost + 7.50)

This block of code will run if the amount of orange in pounds is less than or equals to 100. Remember the amount in pounds must be over 100 before the cost of shipping will be deducted by $ 1.50 . Therefore, the cost will be added to $7.50 and printed.

else:

this simply means otherwise

print(cost + 7.50 - 1.50)

This line of code will be printed if the amount in pounds is over 100. Notice that $1.50 is reduced from the usual cost(including the shipping cost)

cost_of_order(10)

We call the function at this stage with the parameter which is the amount in pounds.

Run this code you will get the cost of the order .

     


Related Questions

Marshall has received an inheritance and wants to invest a sum of money today that will yield $5,400 at the end of each of the next 10 years. Assuming he can earn an interest rate of 5% compounded annually, how much of his inheritance must he invest today

Answers

Answer:

$3,315.13

Explanation:

To determine the amount of inheritance Marshall should invest today, we have to calculate the present value of $5,400.

PV = FV (1 + r)^-n

FV = Future value = $5,400

P = Present value

R = interest rate 5%

N = number of years 10

$5400(1.05^-10) = $3,315.13

I hope my answer helps you

Shelton Co. purchased a parcel of land six years ago for $871,500. At that time, the firm invested $143,000 in grading the site so that it would be usable. Since the firm wasn't ready to use the site itself at that time, it decided to lease the land for $53,000 a year. The company is now considering building a warehouse on the site as the rental lease is expiring. The current value of the land is $923,000. What value should be included in the initial cost of the warehouse project for the use of this land

Answers

Answer:

$923,000

Explanation:

In order to determine the value included in the initial investment of a new project, we must use the opportunity cost of the land. In this case, the opportunity cost of using the land equals its current market value = $923,000.

When considering and evaluating this new project, all prior costs are considered sunk costs because they cannot be recovered.

You are interested in buying a share of stock in CAD Corporation. You expect a dividend payment of $0.50 next year and that the dividend will grow by 5% per year thereafter. You desire a 10% return on your purchase. According to the Gordon growth model, what is the maximum price you would pay for a share of this stock?​a. ​$20.00b. ​$15.00c. ​$12.50d. $10.00

Answers

Answer: d. $10.00

Explanation:

The Gordon Growth Model allows for the valuation of a stock based on its anticipated dividends (which can be determined from it's growth rate if not given) and required return.

The formula is;

Stock Price = Next Dividend / ( required return - growth rate)

= 0.50 / ( 10% - 5%)

= 0.50 / 5%

= $10

Mary makes monthly deposits of $450 at the end of each month over 25 consecutive years to support her retirement. If the account earns an interest rate of 7.5%, which amount comes closest to the value of the deposits at the end?
a. $120,938
b. $343,343
c. $382,667
d. $394,767
e. $367,100

Answers

Answer:

d. $394,767

Explanation:

For computing the amount of deposit at the end we need to apply the future value formula i.e to be shown in the attachment

Given that,  

Present value = $0

Rate of interest = 7.5% ÷ 12 months = 0.625%

NPER = 25 years × 12 months = 300 months  

PMT = $450

The formula is shown below:

= -FV(Rate;NPER;PMT;PV;type)

So, after applying the above formula, the future value is $394,767

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and were recorded in the company's books:
1. Andrea invested $13,500 cash in the business.
2. Andrea contributed $20,000 of photography equipment to the business.
3. The company paid $2,100 cash for an insurance policy covering the next 24 months.
4. The company received $5,700 cash for services provided during January.
5. The company purchased $6,200 of office equipment on credit.
6. The company provided $2,750 of services to customers on account.
7. The company paid cash of $1,500 for monthly rent.
8. The company paid $3,100 on the office equipment purchased in transaction #5 above.
9. Paid $275 cash for January utilities.
Based on this information, the balance in the A. Apple, Capital account reported on the Statement of Owner's Equity at the end of the month would be:__________.
a. $31,400.
b. $39,200.
c. $31,150.
d. $40,175.
e. $30,875.

Answers

Answer:

2356

Explanation:

3546478967654322 321

Berning Company purchased a tractor at a cost of $180,000. The tractor has an estimated salvage value of $20,000 and an estimated life of 8 years, or 10,000 hours of operation. The tractor was purchased on January 1, 2016 and was used 2,400 hours in 2016 and 2,100 hours in 2017. On January 1, 2018, the company decided to sell the tractor for $70,000. Berning uses the units-of-production method to account for the depreciation on the tractor.

Based on this information, the entry to record the sale of the tractor will show:

Select one:

A. A loss of $38,000

B. A gain of $70,000

C. A loss of $70,000

D. No gain or loss on the sale

Answers

Answer:

A. A loss of $38,000

Explanation:

Total depreciation on the tractor = (180,000 - 20,000) *  (2,400 + 2,100) / 10,000 = $72,000

Net book value on January 1, 2018 = 180,000 - 72,000 = $108,000

Loss on sale = 70,000 - 108,000 = $38,000

the government believes that the equilibrium price is too low and tries to help almond growers by settinga price floor at Pf. What are represents the portion of consumer surplus that have been transsferred to produce surplus as a result of the price floor.

Answers

Answer: D) B

Explanation:

The Producer Surplus refers to the area below the Price Floor but above the Supply Curve and left of the new Quantity supplied. It comprises of areas B and E.

Before the Price Floor was introduced, area A, B and C were the Consumer Surplus as they were above the price but below the Demand Curve.

After the Price Floor was introduced however, area B has become a Producer Surplus.

Total revenue equals the price multiplied by the quantity. The relative change price and quantity is given by the concept of ________________.

Answers

Answer: elasticity

Explanation:

Elasticity has to do with how the changes in price affects the quantity I goods and services that are demanded by the consumers in the market.

Sometimes, a change in price may lead to either a larger change in the quantity demand or it ma lead to a minimal effect on the quantity of good demanded. This is the concept of elastic and inelastic demand.

4. Operating Cash Flow [L02] In comparing accounting net income and operating cash flow, name two items you typically find in net income that are not in operating cash flow. Explain what each is and why it is excluded in operating cash flow.

Answers

Answer:

1. Depreciation or Amortization of Assets

2.Profit or Loss on sale of Assets

Explanation:

Operating Cash Flow is very different to Net Income. The earlier represent cash movement and the latter represent profit movement.Cash and profit literally are different.

So in the profit calculation you would find some non-cash items that include estimate of depreciation expense or amortization cost of intangible assets or a profit or loss on sale of a PPE item.

Whereas in Operating Cash Flow determination only cash items are considered and all non-cash items are removed from profit of the year to reach an amount of Operating Cash Flow.

In your opinion which causes of work stress, or organizational stressors, are likely to be among the most common experienced by air traffic controllers? Explain your reasoning.

Answers

Answer:

There are four types of organizational stressors: task demands, physical demands, role demands, and interpersonal demands.

For air traffic controllers, task demands are probably the most common organizational stressor that they experience.

Among the task demands, we have the need of quick decisions, critical decisions, and the fact that some information may be incomplete.

The job of an air traffic controller is complex, difficult, requires taking quick, and specially, critical decisions all the time. A bad decision by a traffic controller can be very problematic, and even prove fatal, because of the delicate nature of the job. For all these reasons, air traffic controllers are likely to be subjected to this specific organizational stressor.

To loosen credit the Federal Reserve will: A sell U.S. Government securities to bank dealers with an agreement to buy them back at a later date B buy U.S. Government securities from bank dealers with an agreement to sell them back at a later date C sell Foreign Government securities to bank dealers with an agreement to buy them back at a later date D buy Foreign Government securities from bank dealers with an agreement to sell them back at a later date

Answers

Answer:

B buy U.S. Government securities from bank dealers with an agreement to sell them back at a later date

Explanation:

The Federal reserve uses open market operations to regulate liquidity in the economy. This eases or restricts how bank dealers can give credit.

To ease credit giving ability of bank dealers the Federal Reserve will buy US Government securities from bank dealers. This gives them extra money which they can give out as loans to their customers.

On the other hand when credit needs to be tightened, the Federal Reserve will mop up cash by selling Government securities to the bank dealers

Simko Company issued $750,000, 8-year, 6 percent bonds on January 1, 2018. The bonds were issued for $710,000. Interest is payable annually on December 31. Using straight-line amortization, prepare journal entries to record (a) the bond issuance on January 1, 2018, and (b) the payment of interest on December 31, 2018.

Answers

Answer:

Bond issuance:

Dr cash                                          $710,000

Dr discount on bonds payable    $40,000

Cr bonds payable                                           $750,000

The payment of interest on December 31, 2018:

Dr interest expense     $50,000

Cr discount on bonds payable    $5000

Cr cash                                           $45,000

Explanation:

The bonds were issued at a discount to their face value, as a result, the discount on bonds payable is computed thus:

discount on bonds payable=$750,000-$710,000=$40,000

Bonds payable would be credited with $750,000 while cash and discount on bonds payable would be debited with $710,000 and $40,000 respectively

annual discount amortization=$40,000/8=$5000

annual coupon=$750,000*6%=$45000

Kramer Manufacturing produces blenders. Its total fixed costs are​ $30,000. Its variable costs are​ $55.00 per blender. As production of blenders increases​ (within the relevant​ range), fixed costs will

Answers

Answer:

As the production of blenders increases, unitary fixed costs decreases.

Explanation:

Its total fixed costs are​ $30,000. Its variable costs are​ $55.00 per blender.

On unitary bases, variable costs remain constant. On the contrary, fixed costs vary at a unitary level. Now, the same amount of costs is divided by a larger number of units.

As the production of blenders increases, unitary fixed costs decreases.

OS Environmental provides cost-effective solutions for managing regulatory requirements and environmental needs specific to the airline industry. Assume that on July 1 the company issues a one-year note for the amount of $5.2 million. Interest is payable at maturity.

Determine the amount of interest expense that should be recorded in a year-end adjusting entry under each of the following independent assumptions:

Interest rate Fiscal year-end Interest expense
12% December 31
10% September 30
9% October 31
6% January 31

Answers

Answer:

In accrual basis accounting, expenses are recorded in the period when their matching revenues are obtained.

In this case, even if the full interest will be paid at maturity, interest expense will still be recorded in each period according to the information that we are given in the question.

Interest expense to be recorded by December 31

5,200,000 * 0.12 = 624,000 / 2 = 312,000

Interest expense to be recorded by September 30

5,200,000 * 0.10 = 520,000 * 3/12 = 130,000

Interest expense to be recorded by October 31

5,200,000 * 0.09 = 468,000 * 4/12 = 156,000

Interest expense to be recorded by January 31

5,200,000 * 0.06 = 312,000 * 7/12 = 182,000

On January 1, 2010, the balance in Tabor Co.'s Allowance for Bad Debts account was $13,085. During the first 11 months of the year, bad debts expense of $21,937 was recognized. The balance in the Allowance for Bad Debts account at November 30, 2010, was $9,919.Required:(a) What was the total of accounts written off during the first 11 months? (Hint: Make a T-account for the Allowance for Bad Debts account.)Bad debt write offs $(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $

Answers

Answer:

(a) What was the total of accounts written off during the first 11 months?

bad debts written for the first 11 months = allowance for bad debt accounts January 1 balance + bad debt expense - allowance for bad debt accounts November 30 balance = $13,085 + $21,937 - $9,919 = $25,103

(b) As the result of a comprehensive analysis, it is determined that the December 31, 2010, balance of the Allowance for Bad Debts account should be $9,450. Show the adjustment required in the journal entry format.Allowance for bad debt Debit $Bad debt expenses Credit $

to determine the amount of bad debt expense that must be adjusted, we must subtract the estimated balance in December 31 from the balance in November 30 = $9,919 - $9,450 = $469. Since the November 30 amount is larger, it means that we over estimated our bad debt expense and it must be reduced:

Dr Allowance for doubtful accounts 469

    Cr Accounts receivable 469

Determining the worst payoff for each alternative and choosing the alternative with the "best worst" is the criterion called: Multiple Choice minimin. maximin. maximax. maximum likelihood. Bayes decision rule.

Answers

Answer: Maximin

Explanation:

With a Maximin strategy, a player in Game theory will aim to pick the alternative that yields the best payoff out of the worst payoffs that are possible.

First the worst pay-offs are determined and then the one that looks the best out of them is selected. The logic here is that the costs associated with the worst outcomes are less. So the person picks this outcome in other to reduce their costs but at the same time picking the best alternative that gives them the most savings on cost.

Ridley Company estimates that overhead costs for the next year will be $4,057,500 for indirect labor and $600,000 for factory utilities. The company uses machine hours as its overhead allocation base. If 115,000 machine hours are planned for this next year, what is the company's plantwide overhead rate

Answers

Answer:

Predetermined manufacturing overhead rate= $40.5 per machine-hours

Explanation:

Giving the following information:

Estimated overhead:

Indirect labor= $4,057,500

Factory utilities= $600,000

Total overhead= $4,657,500

Estimated machine-hours= 115,000

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 4,657,500/115,000

Predetermined manufacturing overhead rate= $40.5 per machine-hours

Lincoln Corporation used the following data to evaluate their current operating system. The company sells items for $12 each and used a budgeted selling price of $12 per unit. Actual Budgeted Units sold 48,000 units 34,000 units Variable costs $170,000 $156,000 Fixed costs $42,000 $57,000 What is the static−budget variance of operating​ income?

Answers

Answer:

Static−budget variance of operating​ income is $169,000F

Explanation:

                                    Actual         Budgetet      

Sales                          $576,000     $408,000      $168,000  

Variable cost             $170,000      $156,000       $14,000  

Contribution margin  $406,000    $252,000       $154,000  

Less: Fixed cost         $42,000       $57,000         -$15,000

Net Income / (Loss)    $364,000  $195,000        $169,000 Favourable

Workings

Sales: Actual 48,000 units * $12=  576,000

           Budgeted 34,000 units * $12= 408,000

If the yield curve is upward sloping, then short-term debt will be cheaper than long-term debt. Thus, if a firm's CFO expects the yield curve to continue to have an upward slope, this would tend to cause the current ratio to be relatively low, other things held constant.
A. True
B. False

Answers

Answer:

A. True

Explanation:

As per the given situation, if the yield curve is sloping upwards, it indicates that short-term interest rates are smaller than long-term interest rates.

In this case the bonds have an opposite relationship between the bond price and interest rates and If the short-term rates are lower then the value of the short-term bonds which includes the current liabilities, is higher. Short term bonds are loans to be settled in one.

As we know that

Current ratio = Current assets - Current liabilities

Current liabilities include short-term debt, hence the short-term value is higher as a result of a low current ratio.

Therefore the given statement is true

One of the most useful applications of business statistics involves comparing two samples to examine whether a difference between them is significant or more likely due to chance variation from one sample to the next.1. True2. False

Answers

Answer: True

Explanation:

Using the p-value (probability of error) approach to hypothesis testing, business analysts are able to compare two samples to see if they are statistically significant or just different by chance.

They compare the data between the two samples and express a p-value. They also set a significance level with the logic being that if the p-value is below the significance level then the difference between the samples is significant.

For example, with a significance level of 0.05, a p-value below this would mean that the difference is significant.

Mountain Top Markets has total assets of $48,700, net working capital of $1,100, and retained earnings of $21,200. The firm has 12,500 shares of stock outstanding with a par value of $1 per share and a market value of $7.10 per share. The stock was originally issued to the firm's founders at par value. What is the market-to-book ratio

Answers

Answer: 2.63

Explanation:

The Market to Book ratio is also referred to as the price to book ratio. It is a financial evaluation of the market value of a company relative to its book value. It should be noted that the market value is current stock price of every outstanding shares that the company has while the book value is the amount that the company will have left after its assets have been liquidated and all liabilities have been repaid.

The market-to-book ratio will be the market price per share divided by the book value. It should be noted that the book value per share is the net worth of the business divided by the number of outstanding shares. The book value will be:

= [(12500 ×1) + $21200]/12500

= ($12500 + $21200)/$12500

= $33700/12500

=$2.70

The market-to-book ratio will now be:

= $7.10/$2.70

=2.63

Suppose a stock had an initial price of $70 per share, paid a dividend of $2.30 per share during the year, and had an ending share price of $82.

Requried:
a. Compute the percentage total return.
b. What was the dividend yield and the capital gains yield?

Answers

Answer:

Stock, Dividend, and Yield:

a) Computation of the percentage total return:

Total return = Dividend + Capital appreciation = $14.30 ($2.30 + $12)

Percentage of total return = $14.30/$70 x 100 = 20.43%

b1) Dividend yield = Dividend per share / price per share = $2.30/$70 = 0.032857 or 3.29%

b2) Capital gains yield = (Current price - initial investment)/ initial investment = ($82 - $70)/$70 = 0.1714 or 17%

Explanation:

a) The Dividend yield is a financial ratio (dividend/price) that shows how much a company pays out in dividends each year relative to its stock price.  

b) Capital gains yield is the percentage price appreciation on an investment. It is calculated as the increase in the price of an investment, divided by its original acquisition cost.  For instance, an equity security that is purchased for $700 and later sold for $825, the capital gains yield is 17.86%.

c) The total return from an investment is the sum of the dividend or interest received plus capital gains.

The financial statement effects of the budgeting process are summarized on the cash budget and the capital expenditures budget. true or false

Answers

Answer:

true

Explanation:

Suppose that Italy and Germany both produce rye and cheese. Italy's opportunity cost of producing a pound of cheese is 5 bushels of rye while Germany's opportunity cost of producing a pound of cheese is 10 bushels of rye.
By comparing the opportunity cost of producing cheese in the two countries, you can tell that ? ( Italy OR Germany? ) has a comparative advantage in the production of cheese and ? ( Italy OR Germany? ) has a comparative advantage in the production of rye.

Suppose that Italy and Germany consider trading cheese and rye with each other. Italy can gain from specialization and trade as long as it receives more than ? (1 bushel , 1/10 bushel,1/5 bushel,5 bushel,10 bushel ?) of rye for each pound of cheese it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than ? (1 pound , 1/10 pound ,1/5 pound ,5 pound ,10 pound ?) of cheese for each bushel of rye it exports to Italy.
Based on your answer to the last question, which of the following prices of trade (that is, price of cheese in terms of rye) would allow both Germany and Italy to gain from trade? Check all that apply.

6 bushels of rye per pound of cheese
7 bushels of rye per pound of cheese
4 bushels of rye per pound of cheese
1 bushel of rye per pound of cheese

Answers

Answer:

Italy has a comparative advantage in the production of cheese.

Germany has a comparative advantage in the production of rye.

5 bushels of rye

1/10 pound of cheese

6 bushels of rye per pound of cheese

7 bushels of rye per pound of cheese

Explanation:

Italy: 1 pound of cheese = 5 bushels of rye

Germany: 1 pound of cheese = 10 bushels of rye

Therefore, the opportunity cost of producing one pound of cheese in Italy is lower than the cost of producing one pound of cheese in Germany, which means that Italy has a comparative advantage in the production of cheese. The opposite can be said about rye since it costs the Germans only half a pound of cheese to produce 5 bushels of rye, while it costs the Italians a whole pound. Therefore, Germany has a comparative advantage in the production of rye.

This means that Italy can gain from specialization if it gains more than 5 bushels of rye for each pound of cheese.

As for Germany, can gain from specialization if it gains more than 1/10 pound of cheese for each bushel of rye.

Therefore, from the alternatives presented, the following would represent a gain from trade for both countries:

6 bushels of rye per pound of cheese

7 bushels of rye per pound of cheese

Charlie’s Furniture Store has been in business for several years. The firm's owners have described the store as a "high-price, high-service" operation that provides lots of assistance to its customers. Margin has averaged a relatively high 34% per year for several years, but turnover has been a relatively low 0.4 based on average total assets of $800,000. A discount furniture Store is about to open in the area served by Charlie's, and management is considering lowering prices to compete effectively.Required:a. Calculate current sales and ROI for Charlie’s Furniture Store. (Round your "ROI" to 1 decimal place.)b. Assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same, calculate the sales that would be required to have the same ROI as Charlie’s currently earns. (Do not round intermediate calculations.)c. Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are you telling me? If I reduce my prices as planned, then I have to practically double my sales volume to earn the same return?" Given the results of your analysis, what is the actual amount of increase in sales required? (Do not round intermediate calculations.)d. Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in staying competitive. What if I were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after conducting more extensive market research to better identify who my target customer groups are." In general, explain to Charlie what the likely impact of a successful strategy of this nature would be on margin, turnover, and ROI.

Answers

Answer:

a. Calculate current sales and ROI for Charlie’s Furniture Store.

asset turnover formula = net sales / average assets

0.4 = net sales / $800,000

net sales = $320,000

ROI = net income / investment

net income = $320,000 x 34% = $108,800

ROI = $108,800 / $800,000 = 13.6%

b. Assuming that the new strategy would reduce margin to 20%, and assuming that average total assets would stay the same, calculate the sales that would be required to have the same ROI as Charlie’s currently earns.

net income = net sales x 20% (new margin)

net sales = $108,800 / 20% = $544,000

c. Suppose you presented the results of your analysis in parts a and b of this problem to Charlie, and he replied, "What are you telling me? If I reduce my prices as planned, then I have to practically double my sales volume to earn the same return?" Given the results of your analysis, what is the actual amount of increase in sales required?

sales increase = ($544,000 - $320,000) / $320,000 = 70% increase

d. Now suppose Charlie says, "You know, I'm not convinced that lowering prices is my only option in staying competitive. What if I were to increase my marketing effort? I'm thinking about kicking off a new advertising campaign after conducting more extensive market research to better identify who my target customer groups are." In general, explain to Charlie what the likely impact of a successful strategy of this nature would be on margin, turnover, and ROI.

An extensive market research and a "successful" marketing campaign are generally expensive. Even if the marketing campaign is really successful in increasing sales, costs would also increase. So the equation may or may not change, depending if the contribution margin of the additional units sold will be able to cover the expenses of a complex marketing campaign. If you spend $100 to earn $100 more, your situation hasn't changed at all. Which means that net income may or may not increase, therefore, the profit margin, ROI and asset turnover may not change.

Worldwide Logistics provides the following​ information: Operating income $ 1 comma 550 comma 000 Net sales $ 14 comma 000 comma 000 Average total assets $ 2 comma 000 comma 000 ​Management's target rate of return 30​% What is the​ company's residual​ income?

Answers

Answer:

The​ company's residual​ income is $950,000.

Explanation:

Residual Income is calculated as Operating Income less Cost of Investment.

Calculation of Residual Income :

Operating income                                              $1,550,000

Less Cost of Investment ($2,000,000 × 30%)  ($600,000)

Residual Income                                                   $950,000

Conclusion :

The​ company's residual​ income is $950,000.

Production Department 1 Production Department 2 Production Department 3 Support Department 1 cost driver 1,400 100 500 Support Department 1’s costs total $142,000. Using the direct method of support department cost allocation, determine the costs from Support Department 1 that should be allocated to each production department.

Answers

Answer:

Department 1 cost Allocation =$99,400

Department 2 cost Allocation=$7,100

Department 3 cost Allocation=$35,500

Explanation:

Calculation for determining the costs from Support Department 1 that should be allocated to each production department using the direct method of support department cost allocation,

The first step is to find the Support department total cost drivers

Using this formula

Support department total cost drivers = Production Department 1 + Production Department 2 + Production Department 3

Let plug in the formula

Support department total cost drivers= 1,400+100+500

Support department total cost drivers = 2,000

Second step is to determine the costs from Support Department 1 that should be allocated to each production department.

Production Department 1

Support Department 1 Allocation

142,000* 1,400/2,000= $99,400

Production Department 2

Support Department 1 Allocation

142,000 * 100/2,000= $7,100

Production Department 3

Support Department 1 Allocation

142,000* 500/2,000= $35,500

Therefore the costs from Support Department 1 that should be allocated to each production department will be :

Department 1 cost Allocation =$99,400

Department 2 cost Allocation=$7,100

Department 3 cost Allocation=$35,500

In response to the financial crisis that began in 2007, the government began to bail out banks deemed "too big to fail." Critics of this action argued that this would create the prospect of future bailouts and encourage banks to be fiscally irresponsible in the future. This illustrates

Answers

Answer:

The moral hazard problem

Explanation:

Moral hazard problem is defined as a situation where a party gets involved in a risky venture knowing that another party will incur the cost of failure.

For example if a borrower knows that he can take borrowed funds and default easily, he will tend to not pay back because the lender will bear the loss.

During the the financial crisis that began in 2007, the government began to bail out banks deemed "too big to fail."

This created fiscal irresponsibility in banks that knew if they are at risk of failing they will be bailed out by the government.

Demarco Lee invested $25,000 in the Camden & Sayler partnership for ownership equity of $25,000. Prior to the investment, equipment was revalued to a market value of $222,000 from a book value of $180,000. Kevin Camden and Chloe Sayler share net income in a 1:3 ratio. Required: a. Provide the journal entry for the revaluation of equipment. For a compound transaction, if an amount box does not require an entry, leave it blank. b. Provide the journal entry to admit Lee.

Answers

Answer and Explanation:

The Journal entry is shown below:-

Equipment Dr, $42,000 ($222,000 - $180,000)

          To Kevin Camden-Capital $10,500 ($42,000 × 1 ÷ (1 + 3))

          To Chloe Sayler-Capital $31,500 ($42,000 × 3 ÷ (1 + 3))

(Being revaluation of equipment is credited)

Here we debited the equipment as it increased the assets  and we credited the  Kevin Camden-Capital and Chloe Sayler-Capital as  it also increased the equity

2. Cash Dr,  $25,000

      To Demarco Lee-Capital  $25,000

(Being admission is recorded)

Here we debited the cash as it increased the assets  and we credited the Demarco Lee-Capital as it also increased the equity

can target costing be applied to the banking industry in Ghana​

Answers

Answer:

The banking industry in Ghana can introduce target costing.  However, its application is much more difficult due to the nature of banking services.

Introducing target costing in the banking industry in Ghana will eliminate non-value adding activities that increase the cost of banking in Ghana.  It will enable Ghanaian customers to be charged competitive prices for the banking services that are rendered to them, with no more room for process wastages.  The quality of services will increase coupled with lowered costs.  The service processes will be improved as they will be more focused on the customers, and less on the staff, as it currently obtains in Ghana.

However, the nature of banking services makes introduction of target costing somehow difficult.  These characteristics of banking services include: a) the production and consumption of banking services are coincidental, as the services are consumed when they are being produced; b) banking services are not storable like goods; c) banking services are not comparable, one unit to another; d) banking services are not tangible; e) ownership of banking services is not transferable; and f) there is not market price for banking services, except the price limits imposed by regulatory bodies.

Explanation:

Target costing in the banking industry in Ghana will take the form of first determining the market price for services that are acceptable to customers, establishing a target profit, and then designing banking services in such a manner that the costs do not exceed the target costs.  The target cost will be the variance between the market price of a banking service and the target profit.

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