Answer:
any financial sub-unit within an organization that has the responsibility to account for the performance of other organizational sub-unit
Explanation:
The responsibility center is the functional entity within a business that have their own goals and objectives, staff who is dedicated to their work, rules, regualtions, policies, procedures. It generally provide the managers the responsibility for the generation of the revenue, expenses that are incurred or the fund that is invested
So the above represent the answer
Which is the simplest way to setup a business?
A. Cooperative
B. Corporation
C. Partnership
D. Sole
Match each type of insurance with an example of when the insurance
company would make a payment.
Renter's
insurance
?.
You cause an accident
that damages someone
else's car.
Liability coverage
?
You have to take a month
off from work because of
a broken leg.
Health insurance
2
Your stereo and computer
are stolen from your
apartment
Disability
insurance
?
You go to the emergency
room after a car accident.
Answer:
See below
Explanation:
Renter's insurance
Your stereo and computer are stolen from your apartment. Renters insurance provides coverage for policyholder's properties other than their dwelling place.
Liability coverage
You cause an accident that damages someone else's car. It protects against claims arising from damages to other people or their properties.
Health insurance
You go to the emergency room after a car accident. Offers insurance coverage for medical bills incurred by the policyholder or their dependents.
Disability Insurance
You have to take a month off from work because of a broken leg. Provides protection against loss of income as a result of serious bodily injuries to the policyholder.
Cosmo Company produces its finished product in two processing departments--Assemblyand Packaging. The following information is available for the month of July:
Assembly Department:
The beginning work-in-process inventory cost was $62,744 and consisted of 4,100 units that were 40% completed as to conversion costs.
During July, an additional 16,800 units were started into production. A total of 15,600 units were completed and transferred out to the Packaging Department.
The ending work-in-process inventory consisted of 5,300 units which were 80% complete as to conversion costs.
The following costs were incurred during July: direct materials $124,320; direct labor $140,000; and factory overhead $98,420.
Direct materials are added at the beginning of the process in the Assembly Department and conversion costs are incurred evenly throughout the production process.
Packaging Department:
The beginning work in process inventory cost was $80,936 and consisted of 3 ,200 units that were 20% complete as to conversion costs.
During July, a total of 14,600 units were completed and transferred out to Finished Goods Inventory.
The ending work in process inventory consisted of 4,200 units which were 60% complete as to conversion costs.
The following costs were incurred during July: direct materials $207,320, direct labor $100,000; and factory overhead costs $ 162,032.
Direct materials are added at the end of the process in the Packaging Department and conversion costs are incurred evenly throughout the production process.
REQUIRED:
Prepare a production report for Jul v for the Assembly Departmen.
Answer:
Production Cost Report
INPUTS
units costs
Beginning Inventory
Units 4,100
Cost at the beginning $62,744
Incurred during the period :
Units started 16,800
Materials $124,320
Conversion costs $238,420
Total 20,900 $425,484
OUTPUTS
Completed and transferred 15,600 $302,952
Ending Work in Process 5,300 $90,185
Total 20,900 $393,137
Explanation:
Note : I will use the FIFO method for this question since the information given is only suitable for this method.
Assembly Department
First, calculate the equivalent units of production with respect to materials and conversion costs :
1.Materials
To finish Opening Work In Process (4,100x0%) = 0
Started and Completed ((15,600 - 4,100) x100%) = 11,500
Ending Work In Process (5,300x 100%) = 5,300
Equivalent units with respect to materials = 16,800
2.Conversion costs
To finish Opening Work In Process (4,100x60%) = 2,460
Started and Completed ((15,600 - 4,100) x100%) = 11,500
Ending Work In Process (5,300x 80%) = 4,240
Equivalent units with respect to conversion costs = 19,840
Next, calculate the total costs with respect to materials and conversion costs :
1. Materials
FIFO method only accounts for costs incurred during the period
Costs Incurred during the period = $124,320
Total Material costs = $124,320
2. Conversion Costs
FIFO method only accounts for costs incurred during the period
Costs Incurred during the period ($140,000 + $98,420) = $238,420
Total Conversion costs = $238,420
Next, calculate the cost per equivalent unit of materials, conversion costs and in total
1. Materials
Cost per equivalent = Total Costs / Total Equivalent Units
Therefore,
Cost per equivalent = $124,320/ 16,800
= $7.40
2. Conversion Costs
Cost per equivalent = Total Costs / Total Equivalent Units
Therefore,
Cost per equivalent = $238,420/ 19,840
= $12.02
3. Total
Total unit cost = materials unit cost + Conversion unit cost
= $7.40 + $12.02
= $19.42
Finally, calculate the total cost of units completed and transferred out and units still in process
1. units completed and transferred out
Total cost = units completed and transferred out x total unit cost
= 15,600 units x $19.42
= $302,952
2. units still in process
Total cost = material costs + conversion costs
= 5,300 x $7.40 + 4,240 x $12.02
= $90,184.80
Production Cost Report
INPUTS
units costs
Beginning Inventory
Units 4,100
Cost at the beginning $62,744
Incurred during the period :
Units started 16,800
Materials $124,320
Conversion costs $238,420
Total 20,900 $425,484
OUTPUTS
Completed and transferred 15,600 $302,952
Ending Work in Process 5,300 $90,185
Total 20,900 $393,137
Perrette Motor Company rebuilds automobile engines that have been damaged or are in need of extensive repair. The rebuilt engine has a 100,000-mile warranty and is purchased by auto shops, large motor pools in companies and governmental units, and some individual auto owners. The plant at Dayton, Ohio, specializes in the Ford V6 engine. Approximately 630 to 830 engines are rebuilt each month, and the costs of the plant are assigned to monthly production using weighted-average process costing. The current month began with a work-in-process inventory of 120 engines which were 50% complete for materials and 50% complete for conversion costs. The materials cost in beginning work-in-process was $68,000, while the conversion cost was $73,200. A total of 530 engines were completed and shipped out during the month, and total materials cost of $636,000 and conversion cost of $731,400 were incurred during the month. The ending work-in-process of 220 units was 50% complete for materials and 30% complete for conversion costs.
Required:
Compute the cost per equivalent unit for materials and conversion for the month.
material cost per equivalent unit:
conversion cost per equivalent unit;
Answer:
Perrette Motor Company
Computation of the cost per equivalent unit for materials and conversion for the month:
1. Material cost per equivalent unit: $1,100
2. Conversion cost per equivalent unit: $1,350
Explanation:
a) Data and Calculations:
Units % of completion Equivalent unit
Materials Conversion Materials Conversion
Beginning WIP 120 50% 50% 60 60
a) Started and
Completed 530 100% 100% 530 530
b) Ending WIP 220 50% 30% 110 66
Equivalent units 640 596
Cost of production:
Materials Conversion
Beginning WIP $68,000 $73,200
Started & completed 636,000 731,400
Total cost $704,000 $804,600
Equivalent units 640 596
Cost per equivalent unit $1,100 $1,350
b) When calculating the equivalent units under the weighted average process costing method, the units beginning work-in-process are not taken into consideration, but the costs are.
A professional who searches for mispriced securities in specific areas such as merger-target stocks, rather than one who seeks strict (risk-free) arbitrage opportunities is engaged in
Answer:
Risk arbitrage.
Explanation:
This strategy in business dealings is seen to be forced up when a form of security is been sold from a firm to another. This is done with its value been raised very high; not minding the risk been involved. It can also be described as a form of exploitation of the market especially when seen to be imbalanced. Especially in the trade of stocks; here, these stocks are been bought during these imbalance period and been given out for sale at high and outrageous prices.
"Many service companies collect data via a follow-up survey of their customers. Suppose, in order to ascertain customer sentiment, a certain air line sends an email to customers immediately following a flight. The following question is asked, among others. How likely are you to recommend this air line to others?"
Answer: Categorical; Ordinal
Explanation:
The data that are collected by the airline in this case is referred to as categorical.
The categorical variables are simply referred to as categorical variables because they can be segregated into groups. Also, the measurement of scale that is used is the ordinal scale.
Ordinal data is a kind of categorical data with a set order or scale to it.
Comment
There are different ways to respond to an issue. Due to the fact that the response stated are five choices, therefore, the response is a categorical response.
When you look at the five responses for the labels for the customer responses, you will see that a nominal scale is being used.What is a categorical response?
Categorical is known to be the term for all single-choice or multiple-choice response to a given question.
See full question below
Airline Customer Satisfaction. Many service companies collect data via a fol-low-up survey of their customers. For example, to ascertain customer sentiment, Delta Air Lines sends an email to customers immediately following a flight. Among other questions, Delta asks:
How likely are you to recommend Delta Air Lines to others?
The possible responses are: Definitely
Will
Probably Will
May or May Not
Probably Will Definitely Will Not
Not
a. Are the data collected by Delta in this example quantitative or categorical?
Learn more about categorical response from
https://brainly.com/question/24493066
The amount of money you will still need after subtracting scholarships, grants, and work study will help determine the amount of money _____.
A.You need to borrow in loans or pay out of pocket
B.to accept in grants and scholarships
C.to set aside in savings
D.to use for room and board,books and other expenses
Answer:
A.
Explanation:
The amount of money needed after receiving some from scholarships, grants, and work study is the amount A. You need to borrow ..
A student's total amount needed after subtracting the amount received from scholarships, etc. is either funded through borrowings or from the student's own savings (pocket).
The total amount needed is not the amount from grants, for savings, or for other expenses.
It is the amount that the student still requires to cover all expenses which can be sourced from loans or own savings.
Thus, statement A is correct.
Link to related question:
https://brainly.com/question/18347157
Houston-based Advanced Electronics manufactures audio speakers for desktop computers. The following data relate to the period just ended when the company produced and sold 41,000 speaker sets:
Sales $3,362,000
Variable costs 840,500
Fixed costs 2,310,000
Management is considering relocating its manufacturing facilities to northern Mexico to reduce costs. Variable costs are expected to average $20.00 per set; annual fixed costs are anticipated to be $1,986,000.
Required:
1. Calculate the company’s current income and determine the level of dollar sales needed to double that figure, assuming that manufacturing operations remain in the United States.
2. Determine the break-even point in speaker sets if operations are shifted to Mexico.
3. Assume that management desires to achieve the Mexican break-even point; however, operations will remain in the United States.
4. If variable costs remain constant, by how much must fixed costs change?
5. If fixed costs remain constant, by how much must unit variable cost change?
6. Determine the impact (increase, decrease, or no effect) of the following operating changes.
A) Effect of an increase in direct material costs on the break-even point.
B) Effect of an increase in fixed administration costs on the unit contribution margin.
C) Effect of an increase in the unit contribution margin on net income.
D) Effect of a decrease in the number of units sold on the breakeven point.
Answer:
1. $211,500 and $3,644,000
2. 32,033 speaker sets (Mexican)
3. 32,033 speaker sets (Mexican required Break even)
4. $323,954 decrease
5. $11,11 decrease
6. Determining Effects :
A. decrease
B. no effect
C. increase
D. no effect
Explanation:
Part 1
a
Income = Contribution (Sales - Variable Costs) - Fixed Costs
therefore,
Income = $3,362,000 - $840,500 - $2,310,000 = $211,500
b
Double the figure of income = $211,500 x 2 = $423,000
Sales to achieve target profit = Target Profit + Fixed Cost ÷ Contribution Margin
where,
Contribution Margin = Contribution (Sales - Variable Costs) ÷ Sales
= ($3,362,000 - $840,500) ÷ $3,362,000
= 0.75
therefore,
Sales to achieve $423,000 profit = ($423,000 + $2,310,000) ÷ 0.75
= $3,644,000
Part 2
Break even point (speaker sets) = Fixed Cost ÷ Contribution per unit
where,
Fixed Cost = $1,986,000
Contribution per unit = ($3,362,000 / 41,000) - $20.00 = $62.00
therefore,
Break even point (speaker sets) = $1,986,000 ÷ $62.00
= 32,033 speaker sets
Part 3
Mexico :
Break even point (speaker sets) = Fixed Cost ÷ Contribution per unit
where,
Fixed Cost = $1,986,000
Contribution per unit = ($3,362,000 / 41,000) - $20.00 = $62.00
therefore,
Break even point (speaker sets) = $1,986,000 ÷ $62.00
= 32,033 speaker sets
United States :
Break even point (speaker sets) = Fixed Cost ÷ Contribution per unit
where,
Fixed Cost = $2,310,000
Contribution per unit = ($3,362,000 / 41,000) - ($840,500 / 41,000) = $61.50
therefore,
Break even point (speaker sets) = $2,310,000 ÷ $61.50
= 37,561 speaker sets
Part 4
Break even point (speaker sets) = Fixed Cost ÷ Contribution per unit
where,
US Fixed Cost = $2,310,000
Fixed Cost Required = Unknown
Contribution per unit = $82.00 - $20.00 = $62.00
therefore,
Fixed Cost = Breakeven Point x Contribution per unit
= 32,033 speaker sets x $62.00
= $1,986,046
Change in Fixed Costs = $323,954 decrease ($2,310,000 - $1,986,046)
Part 5
Break even point (speaker sets) = Fixed Cost ÷ Contribution per unit
where,
US Fixed Cost = $2,310,000
US Contribution per unit = $82.00 - $20.00 = $62.00
Contribution per unit = $82.00 - V = Unknown
therefore,
Contribution per unit = Fixed Costs ÷ Breakeven point
= $2,310,000 ÷ 32,033 speaker sets
= $73.11
Variable Cost = Selling Price - Contribution per unit
= $82.00 - $73.11
= $8.89
Change in Variable Cost = $11,11 decrease ($20.00 - $8.89)
Skolits Corp. issued 10-year bonds 2 years ago at a coupon rate of 8.7 percent. The bonds make semiannual payments. If these bonds currently sell for 108 percent of par value, what is the YTM
Answer:
7.36%
Explanation:
Nper = (10-2)*2 = 16
Pmt = 1000*8.7%/2 = 43.5
Pv = -108%*1000 = -1080
Fv = 1000
YTM = Rate(Nper, pmt, -Pv, Fv)*2
YTM = Rate(16, 43.5, -1080, 1000)*2
YTM = 0.036795696 * 2
YTM = 0.073591392
YTM = 7.3591392%
YTM = 7.36%
For students not wanting a traditional major in marketing or accounting, for example, YSU decided to create a general business major, which allowed any combination of the easiest business courses to comprise the program. The competitive priority achieved in this example is:
Answer:
The correct approach is "Customization".
Explanation:
Customization continues to recognize a consumer preference but instead wants to increase consumer satisfaction whilst also implementing the merchandise to individual communities. Configuration of the software systems throughout meeting personal eligibility criteria. Before the next organization could streamline its operational activities utilizing software applications, one must first ensure that the computer seems to be capable of automating together all procedures it requires.In 2018 the NFL football team, the Carolina Panthers, have an owner accused of sexual harassment. The fans’ demand for team jerseys has dropped with the scandal this year. At about the same time the cost to manufacture the jerseys in China increased by 20%. Describe what the new equilibrium price and quantity is like compared with the prior year’s Panthers’ jersey market before the scandal and increased manufacturing costs?
Question Completion with Options:
1. The demand curve shifted to the right, the supply curve shifted to the left, the equilibrium price and quantity increased from 2017
2. Supply and demand curves have shifted to the left and the equilibrium quantity has decreased from 2017 but it is impossible to determine the effect on the equilibrium price.
3. The demand curve shifted to the left, the supply curve shifted to the right, the equilibrium price and quantity increased from 2017 Od.
4. Supply and demand curves have shifted to the left and the equilibrium price and quantity for Panthers' jersey market has decreased since 2017.
Answer:
This is how the new equilibrium price and quantity are like compared with the prior year’s Panthers’ jersey market before the scandal and increased manufacturing costs:
2. Supply and demand curves have shifted to the left and the equilibrium quantity has decreased from 2017 but it is impossible to determine the effect on the equilibrium price.
Explanation:
The scenario presents a decrease in supply of the jersey caused by the increase in the cost of production by 20%. This is why supply shifted to the left. Based on this factor, price is supposed to increase but this does not reflect on the data because the scandal also dampened demand. No wonder demand also shifted to the left, resulting in further decrease. These two leftward shifts caused the equilibrium quantity to decrease. However, we cannot establish whether the price decreased as well because it is supposed to increase due to the increased production cost in China.
The key to using the cost-benefit principle is to think about _____ aspects of a decision. Group of answer choices only nonfinancial neither financial nor nonfinancial only financial both financial and nonfinancial
Answer:
both financial and nonfinancial
Explanation:
The cost benefit analysis means the approach where we analyze the strength and weakness of the alternatives available and determine the optimal solution that help in accomplish the benefits.
So in order to use the cost-benefit principle here both financial and non-financial should be used
Therefore the last option is correct
Brief Exercise 22-02 Paige Company estimates that unit sales will be 10,100 in quarter 1, 12,100 in quarter 2, 14,800 in quarter 3, and 18,800 in quarter 4. Using a sales price of $82 per unit. Prepare the sales budget by quarters for the year ending December 31, 2020.
Answer:
Paige Company
Sales budget by quarters for the year ending December 31, 2020:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Sales in units 10,100 12,100 14,800 18,800 55,800
Unit sales price $82 $82 $82 $82 $82
Sales value $828,200 $992,200 $1,213,600 $1,541,600 $4,575,600
Explanation:
a) Data and Calculations:
Quarter 1 Quarter 2 Quarter 3 Quarter 4 Total
Sales in units 10,100 12,100 14,800 18,800 55,800
Unit sales price $82 $82 $82 $82 $82
Sales value $828,200 $992,200 $1,213,600 $1,541,600 $4,575,600
b) Paige's sales budget is a financial plan which computes the expected sales revenue based on an expected selling price and sales unit. Paige uses the sales budget to forecast its future sales revenue. The preparation of the sales budget by Paige Company will ensure the efficient allocation of business resources, thereby saving time, effort, and money.
Swann Company sold a delivery truck on April 1, 2016. Swann had acquired the truck on January 1, 2012, for $45,500. At acquisition, Swann had estimated that the truck would have an estimated life of 5 years and a residual value of $3,000. At December 31, 2015, the truck had a book value of $11,500. Required: 1. Prepare any necessary journal entries to record the sale of the truck, assuming it sold for: a. $11,125 b. $7,525 2. How should the gain or loss on disposal be reported on the income statement
Answer:
1.
Journal Entries
a.
Dr. Cash_________________$11,125
Dr. Accumulated Depreciation $36,125
Cr. Truck ________________ $45,500
Cr. Gain on Disposal ________$1,750
b.
Dr. Cash_________________$7,525
Dr. Loss on Disposal ________$1,850
Dr. Accumulated Depreciation $36,125
Cr. Truck ________________ $45,500
2.
a.
The gain is reported as a realized gain in the income statement after operating income for the period.
b.
The loss is reported as a realized loss in the income statement after operating income for the period.
Explanation:
1.
We need to calculate the depreciation for the 3 months of 2016.
Depreciation for the period = ( ( Initial cost -Residual Value ) / Useful life ) x Time Fraction = ( ( $45,500 -$3,000 ) / 5 ) x 3/12 = $2,125
Book Value on April 1, 2016 = Book Value on December 31, 2015 - Depreciation for 2016 = $11,500 - $2,125 = $9,375
Accumulated Depreciation = Initial cost - Book value = $45,500 - $9,375 = $36,125
Now compare The bok value o sale price to calculate the gain or losss
a.
Gain = Sale Value - Book value = $11,125 - $9,375 = $1,750
b.
Loss = Book Value - Sale value = $9,375 - $7,525 = $1,850
2.
Explain how changes in interest rates and rates of return on various investment options will affect the amount of money that businesses are willing to invest to increase output.
Answer:
Interest rates represent the opportunity costs of investors. If the interest rates are too high, then the opportunity cost of making an investment increases, since the investor could simply decide to purchase Treasury Bonds, corporate bonds, or put the money on a CD. As interest rates increase, total output decreases since investment in new projects decreases.
On the other hand, if interest rates lower, the opportunity cost of investors decrease. Investors will be willing to invest in new projects instead of purchasing Treasury Bonds, corporate bonds, or put the money on a CD. As interest rates decrease, total output increases since investment in new projects increases.
Explanation:
The Sisyphean Company is planning on investing in a new project. This will involve the purchase of some new machinery costing $450,000. The Sisyphean Company expects cash inflows from this project as detailed below:
Year One $200,000
Year Two $225,000
Year Three $275,000
Year Four $200,000
The appropriate discount rate for this project is 16%. The NPV for this project is closest to:_________
a. $179,590
b. $450,000
c. $176,720
d. $123,420
Answer:
c.$176,720
Explanation:
Calculation for The NPV for this project
NPV=-450,000+200,000 / (1.16)^1+225,000 / (1.16)^2+275,000 / (1.16)^3+200,000 / (1.16)^4
NPV=-450,000+172,414+167,212+176,181+110,458
NPV=176,720
Therefore The NPV for this project is closest to :176,720
Describe a historical situation where a failure to assess and correctly interpret the external environment resulted in a business' failure. What elements of the external environment were missed
Answer: Nokia case- Lack of assessment for the smart phone
Explanation:
Nokia had a big influence in the international market for cell phone products in the global market. They could not make the assessment for the external market adequately for the need of the smart phone technology. This resulted in their major failure and they began loosing global recognition and lost the entire market share due to the shift from keypad technology to smart phone technology. They could not interpret correctly their external environment and lack of market assessment
F brown lent us 4000 giving us the money by cheque
Answer:
See below
Explanation:
This transaction is affecting the bank's balance and F brown accounts. It is increasing the bank balance( asset account) by 4000 and increasing accounts payable/F brown ( liabilities account) by 4000.
An increase in assets is debited while an increase in liabilities is credited.
The journal entry will be
Bank A/c Dr. 4000
F brown A/c 4000