Adelberg Company has two products: A and B. The annual production and sales of Product A is 1,900 units and of Product B is 1,300 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.4 direct labor-hours per unit and Product B requires 0.7 direct labor-hours per unit. The total estimated overhead for next period is $101,075. The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and Order Size--with estimated overhead costs and expected activity as follows:
Expected Activity
Activity Cost Pools Estimated Overhead Costs $ Product A Product B Total

Activity 1 $31,031 1,000 300 1,300
Activity 2 22,249 1,600 300 1,900
Order size 15,476 200 200 400
Total $ 68,756 (Note: The Order Size activity cost pool's costs are allocated on the basis of direct labor-hours.) The predetermined overhead rate under the traditional costing system is closest to:________
a. $11.71 per DLH
b. $38.69 per DLH
c. $171.89 per DLH
d. $23.87 per DLH

Answers

Answer 1

Answer:

$60.53 per DLH

Explanation:

Calculation for what the predetermined overhead rate under the traditional costing system is closest to:

First step is to calculate the Direct Labor hours each product

Using this formula

Direct Labor hours=Annual production and sales*Direct Labor hour per unit

Direct Labor hours for Product A=1,900 units*0.4 direct labor-hours per unit

Direct Labor hours for Product A=760

Direct Labor hours for Product B=1,300 units*0.7 direct labor-hours per unit

Direct Labor hours for Product A=910

Second step is to calculate the Total Direct Labor hours for Product for Product A and Product B

Product A and B Total Direct Labor hours for Product =760+910

Product A and B Total Direct Labor hours for Product=1,670

Now let calculate the predetermined overhead rate under the traditional costing system using this formula

Predetermined overhead rate =Estimated Overhead/Activity base(Direct Labor Hours)

Let plug in the formula

Predetermined overhead rate=$101,075/1,670

Predetermined overhead rate=$60.53 per DLH

The predetermined overhead rate under the traditional costing system is closest to:$60.53 per DLH


Related Questions

Solve for the unknown number of years in each of the following (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.):
Present Value Years Interest Rate Future Value
$600 8% $1,393
850 12 2,330
18,800 18 367,247
21,900 14 382,983

Answers

Answer:1)10.94years , 2.) 8.90 years 3) 17.96years  4) 21.84years

Explanation:

Using the formula

FV = PV (1 + r)ⁿ

where

PV=present value

r=interest rate

n =number of periods

FV = future value.

Present Value Years Interest Rate Future Value

$600             ?                    8%                  $1,393

850               ?                      12                   2,330

18,800               ?                 18                    367,247

21,900           ?                     14                      382,983

Using FV = PV (1 + r)ⁿ, The number of years can be calculated

FV/PV = (1 + r)ⁿ

FV/PV/ 1+r = eⁿ

In FV/PV / In ( 1+ r) = n

1)

n ( Number of years )=In FV/PV / In ( 1+ r)

=In ( 1,393/600) / In ( 1+ 0.08)

       0.84228/0.07696

       =10.94years

2.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In (2330/850) / In ( 1+ 0.12)

       1.00837625/0.113328685

       =8.90 years

3.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In (367,247/ 18,800) / In ( 1+ 0.18)

       2.97217778/0.165514438

       =17.96years

4.

n ( Number of years )=In FV/PV / In ( 1+ r)

=In ( 382,983/ 21,900) / In ( 1+ 0.14)

       2.86150396/0.131028262

       =21.84 years

why does this app suck i a way? i looked at this question: The managers want to know how many boxes of 12 cookies can be filled with the 3,258 cookies that have been baked. Fatima starts by subtracting the largest number of boxes she can easily calculate. She knows that 100 boxes of 12 cookies can be put into one crate. How many crates can be filled from the total of 3,258 cookies?

then an expert verified its 3 so i put it in and it said incorrect. am i not getting something or is it maybe incorrect in my platform?

Answers

Answer:

this app is fine, it has helped me a lot

Explanation:

BUT, you shouldnt rely on it all the time, unless you're genuinely struggling on grasping a topic I suggest trying to teach to yourself.

Present owners of a network good receivegreater benefits as new buyers purchase the good. How do network externalities help a monopoly retain its market power? By exploiting network externalities, a firm can become a natural monopoly. If there are strong network externalities associated with a good, other goods are poor substitutes for it. Goods with network externalities are more likely to receive a government patent.

Answers

Answer:

How network externalities help a monopoly retain its market power:

By exploiting network externalities, a firm can become a natural monopoly.

Explanation:

In economics, Network externality describes a situation whereby the demand for a product depends on the demand of other consumers buying that product.  This implies that the value of the product to the consumer is increased because others are joining as buyers.  The present owners of a network product will actually gain more benefits as new buyers purchase the good because the fixed costs of rendering the service or providing the good are not increased with increasing buyers, but remain the same over a relevant range.

ABC Company issues $425,000 of bonds on January 1, 2021 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below:
Cash Interest Change in Carrying
Date Paid Expense Carrying Value Value
01/01/2021 $599,391
06/30/2021 $14,875 $11,988 $-2,887 596,504
12/31/20211 4,875 11,930 -2,945 593,559
What is the original issue price of the bonds?
a. $592,557
b. $440,000
c. $590,534
d. $459,800

Answers

Answer:

$599,391

Explanation:

Based on the information given we were told that the bonds amount of $425,000 which is the Face Value of Bonds were issued by the company on January 1, 2021 which means that ORIGINAL ISSUE PRICE of the bonds will be the Carrying Value or the Issues Value of Bonds of the amount of $599,391 that was issued on the same date the Company issues the face value bonds of the amount of $425,000 which is January 1, 2021 ( 01/01/2021).

Therefore the original issue price of the bonds will be $599,391

QS 23-11 Selection of sales mix LO P3 Excel Memory Company can sell all units of computer memory X and Y that it can produce, but it has limited production capacity. It can produce two units of X per hour or three units of Y per hour, and it has 4,700 production hours available. Contribution margin is $6 for product X and $5 for product Y. 1. Calculate contribution margin per production hour. 2. What is the most profitable sales mix for this Company

Answers

Answer:

Contribution margin per production hour

Product X = $12

Product Y = $15

Explanation:

Part 1

Contribution margin per production hour

Contribution margin per production hour = Contribution ÷ Time to produce one product

Therefore,

Product X =  $6 ÷ 0.5

                 = $12

Product Y =  $5 ÷ 0.33

                 = $15

Part 2

The Demand Units of Product X and Product Y are missing so the calculation of profitable sales mix is impossible.

This mix would have been calculated by :

Manufacturing all the units of Product Y since Y has the highest contribution margin per production hour (demand for Y × hours required per unit)With the remainder of hours out of 4,700 after producing all of Product Y demand, we would then produce Product X.

A payroll tax is collected by which of the following methods?
A.
It is automatically deducted as a percentage of the paycheck.
B.
The paycheck is brought to the bank for the tax to be deducted.
C.
The payroll tax is paid with the income tax on April 15 of each year.
D.
The government deducts a percentage of your paycheck directly from your personal bank account.


Please select the best answer from the choices provided

A
B
C
D

Answers

A. It’s automatically deducted as a % of the paycheck. This is based on the assumption you are not a contracted employee receiving a 1099 tax form.

Answer:

A.

It is automatically deducted as a percentage of the paycheck.

Explanation:

just did it on the exam

The following note transactions occurred during the year for Towell Company: Nov. 25 Towell issued a 90-day, 10% note payable for $80,000 to Hyatt Company for merchandise. Dec. 7 Towell signed a 120-day, 9% note at the bank for $120,000. Dec. 22 Towell gave Barr, Inc., a 60-day, 9%, $120,000 note for payment of account. Prepare the general journal entries necessary to adjust the interest accounts at December 31. Use 360 days for calculations and round to the nearest dollar.

Answers

Answer:

Towell Company

Journal Entries:

Debit Interest Expense $1,790

Credit Interest Payable $1,790

To record the interest expense for the year.

Explanation:

a) Data and Calculations:

i) Nov. 25: Issue of 90-day, 10% Note Payable = $80,000

Interest on the note for the year = $80,000 * 10% * 36/360 = $800

ii) Dec. 7: Issue of 120-day, 9% Note Payable = $120,000

Interest on the note for the year = $120,000 * 9% * 24/360 = $720

iii) Dec. 22: Issue of 60-day, 9% Note Payable = $120,000

Interest on the note for the year = $120,000 * 9% * 9/360 = $270

Total interest payable for the year = $1,790

Pacifica Industrial Products Corporation makes two products, Product H and Product L. Product H is expected to sell 40,000 units next year and Product L is expected to sell 8,000 units. A unit of either product requires 0.4 direct labor-hours.
The company's total manufacturing overhead for the year is expected to be $1,632,000.
Required:
1-a. The company currently applies manufacturing overhead to products using direct labor-hours as the allocation base. If this method is followed, how much overhead cost per unit would be applied to each product? Product H Product L Overhead cost per unit
1-b. Compute the total amount of overhead cost that would be applied to each product Product H Product L Total Total overhead cost
2. Management is considering an activity-based costing system and would like to know what impact this change might have on product costs. For purposes of discussion, it has been suggested that all of the manufacturing overhead be treated as a product-level cost. The total manufacturing overhead would be divided in half between the two products, with $816,000 assigned to Product H and $816,000 assigned to Product L If this suggestion is followed, how much overhead cost per unit would be assigned to each product? (Round your answers to 2 decimal places.)
Product H Product L
Overhead cost per unit

Answers

Answer:

1a. Product H $16,000

Product L $3,200

1b. Product H $1,360,000

Product L $272,000

Total $1,632,000

2. Product H $20.40

Product L $102.00

Explanation:

1-a. Calculation for how much overhead cost per unit would be applied to each product

Product H Product L

Number of units produced 40,000 8,000( a)

Direct labor-hours per unit (b) 0.40 0.40 (b)

(a) × (b)=Total direct labor-hours 16,000 3,200 Total =$19,200

Therefore Amount of hoverhead cost per unit applied to each product is :

Product H $16,000

Product L $3,200

1-b. Computation for the total amount of overhead cost that would be applied to each product

Product H Product L Total

Manufacturing overhead applied per unit

0.40 DLH per unit × $85.00 per DLH= $34.00 (a)

Number of units produced 40,000 8,000 (b)

(a) × (b)=Total manufacturing overhead applied $1,360,000 $272,000

Total=Product H $1,360,000+Product L $272,000

Total= $1,632,000

Predetermined overhead rate of $ 85.00 per DLH is calculated as:

Total manufacturing overhead $ 1,632,000(a)

Total direct labor-hours 19,200 DLHs(b)

(a) ÷ (b) =Predetermined overhead rate $ 85.00 per DLH

Therefore the total amount of overhead cost that would be applied to each product is :

Product H $1,360,000

Product L $272,000

Total $1,632,000

C. Calculation for how much overhead cost per unit would be assigned to each product

Product H Product L Total

Total manufacturing overhead assigned (a)

$816,000 $816,000 =$1,632,000

Number of units produced (b) 40,000 8,000

(a) ÷ (b) =Manufacturing overhead per unit $20.40 $102.00

Therefore the amount of overhead cost per unit would be assigned to each product is :

Product H $20.40

Product L -$102.00

Chang, an Non Resident Alien, is employed by Fisher, Inc., a foreign corporation. In November, Chang spends 10 days in the US performing consulting services for Fisher’s U.S. branch. She earns $5,000 per month. A month includes 20 workdays. How much is her U.S.-sourced income, is it exempt or non-exempt, and why?

Answers

Answer and Explanation:

The computation of the amount considered as US sourced income is as follows;

= $5,000 × 10 days ÷ 20 days

= $2,500

The following are the requirement related to the fully exempt US source income is as follows:

1. The service should be perfomed by an United States NRA for 90 days or less

2. The compensation should not be more than $3,000

3. The service should be performed on behalf of

a. NRA, foreign corporation or partnership who not engaged in US trade

b. The office should be maintained in US by an individual who should be the citizen of US

So the same is not allowed for exemption

The following is a TRUE statement about inventory within a continuous review system: A. When holding costs increase, Economic Order Quantity decreases B. When service level decreases, Economic Order Quantity decreases C. When demand increases, Economic Order Quantity decreases D. When ordering or setup costs increase, Economic Order Quantity decreases E. When holding costs decrease, Economic Order Quantity decreases

Answers

Answer:

A. When holding costs increase, Economic Order Quantity decreases

Explanation:

The answer will be attain through the following illustration

Suppose,  Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50

Economic Order Quantity = √2 * 1000 Units * $10 / $0.50

Economic Order Quantity = √40000

Economic Order Quantity= 200 units

Assume, there is increase of holding cost to $1.50

Economic Order Quantity = √2 * 1000 Units * $10 / $1.50

Economic Order Quantity = √13333

Economic Order Quantity = 116 unit

Therefore, when holding costs increase, Economic Order Quantity decreases.

Inventory is termed as the stock of the goods and services available for the consumption of the consumers or the customers. It is referred as the management of the goods and services as per the demand of the customers in the market.  

The true statement about inventory within a continuous review system is A. When holding costs increase, Economic Order Quantity decreases.

This can be illustrated with the specific example as below:

Let,  Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50

Economic Order Quantity = [tex]\sqrt{2} \times 1000 \:Units \times\frac{\$10 }{\$0.50}[/tex]

Economic Order Quantity = √40000

Economic Order Quantity= 200 units

Assume that there has been an increase in holding cost to $1.50

Economic Order Quantity = [tex]\sqrt[]{2} \times 1000 \:Units \times\frac{ \$10}{ \$1.50}[/tex]

Economic Order Quantity = √13333

Economic Order Quantity = 116 units

Therefore, when holding costs increase, Economic Order Quantity decreases.

To know more about the inventory within a continuous review system, refer to the link below:

https://brainly.com/question/16986815

garcia company has 11,600 units of its product that were produced last year at a total cost of $174,000. the units were damaged in a rainstorm because the warehouse where they were stored developed a leak in the roof. garcia can sell the units as is for $2 each or it can repair the units at a total cost of $19,600 and then sell them for $5 each. calculate the incremental net income if the units are repaired

Answers

Answer:

If the company repairs the units, income will increase by $15,200.

Explanation:

Giving the following information:

Units= 11,600

Garcia can sell the units as is for $2 each or, it can repair the units at a total cost of $19,600 and then sell them for $5 each.

We will not take into account the original cost of production because they remain constant in both options.

Sell as-is:

Effect on income= 11,600*2= $23,200

Repair:

Effect on income= 11,600*5 - 19,600= $38,400

If the company repairs the units, income will increase by $15,200.

Drag the tiles to the correct boxes to complete the pairs.
Determine the management style that corresponds with each term.
Lila has complete faith in her team. She believes in
empowering them to make decisions.
Jacob prefers to make all decisions himself. He does
not like it when his employees question his decisions
Hannah makes a final decision after listen to
and considering her employees' suggestions
bureaucratic
laissez-faire
11
autocratic

Answers

Answer:

Lila: laissez-faire Jacob: autocratic Hannah: bureaucratic

Explanation:

Lila lets her team do their part and does not intervene.

Jacob wants complete control and would rather make all decisions, giving his employees no say.

Hannah considers all employee decisions, but makes the final choice.

8-4 Valuing Commercial Real Estate BuildingOne Properties is a limited partnership formed with the express purpose of investing in commercial real estate. The firm is currently considering the acquisition of an office building that we refer to simply as building B. Building B is very similar to building A, which recently sold for $36,960,000. BuildingOne has gathered general information about the two buildings, including valuation information for building A:

Answers

Answer:

the question is incomplete:

Buildings A and B are similar in size (80,000 and 90,000 square feet, respectively). However, the two buildings differ both in maintenance costs ($23 and $30 per square foot) and rental rates ($100 versus $120 per square foot). At this point, we do not know why these differences exist. Nonetheless, the differences are real and should somehow be accounted for in the analysis of the value of building B using data based on the sale of building A. Building A sold for $462 per square foot, or $36,960,000. This reflects a sales multiple of six times the building’s net operating income (NOI) of $6,160,000 per year and a capitalization rate of 16.67%.

NOI of building A = ($100 x 80,000 ft²) - ($23 x 80,000 ft²) = $6,160,000

NOI of building B = ($120 x 90,000 ft²) - ($30 x 90,000 ft²) = $8,100,000

building B's market value = NOI / capitalization rate = $8,100,000 / 0.1667 = $48,600,000

property value = $48,600,000 / 90,000 ft² = $540 per ft²

Which factor would credit card companies most likely use to determine an
applicant's creditworthiness?

A. Hourly wages

B. Languages spoken

C. Political party

D. Size of family

Answers

A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

Credit card issue

When you apply for a credit card, you’re required to share an array of personal information on your application. This will include details like your name, address, Social Security number and current employment status. You’ll also be asked to list your income on your application, although the type of income card issuers ask for can vary depending on the card issuer.

Determination of hourly wages

Not all credit card issuers will ask for your annual net income. Some may explicitly ask for your gross income. If you are paid an hourly wage, on the other hand, you may need to figure out your gross income using last year’s tax return or by multiplying your gross weekly income by the number of weeks you work within a year.

Thus, A factor that credit card companies would most likely use to determine an applicant's creditworthiness is Hourly wages.

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Problems and Applications Q4 Suppose that the government imposes a tax on heating oil. True or False: The deadweight loss from this tax would likely be larger in the fifth year after it is imposed than in the first year as demand for heating oil becomes more elastic. True False The tax revenue collected from a tax on heating oil is likely to be in the first year after it is imposed than in the fifth year.

Answers

Answer:

TrueTrue

Explanation:

The deadweight loss in the fifth year will indeed be higher in the fifth year than in the first because deadweight loss has been shown to increase with elasticity.

As demand becomes more elastic as a result of the oil becoming more expensive, tax revenue will decrease in future which means that tax revenue will be less in five years than in the first.

Bramble Corp. purchased a truck at the beginning of 2020 for $109000. The truck is estimated to have a salvage value of $3700 and a useful life of 121000 miles. It was driven 21000 miles in 2020 and 29000 miles in 2021. What is the depreciation expense for 2021

Answers

Answer:

2020 = 18275.206

2021 = 25237.190

Explanation:

Cost of truck at beginning of 2020 = $109,000

Salvage value = $3700

Useful life = 121,000 miles

Miles driven in 2020 = 21000

Miles driven in 2021 = 29000

Depreciation expense 2020:

((Cost of asset - salvage value) / useful life) * miles driven in 2020

((109,000 - 3700) / 121000) * 21000

0.8702479 * 21000 = 18275.206

Depreciation expense 2021:

((109,000 - 3700) / 121000) * 29000

= 25237.190

Three years ago, Adrian purchased 430 shares of stock in X Corp. for $70,950. On December 30 of year 4, Adrian sells the 430 shares for $64,070. (Leave no answers blank. Enter zero if applicable. Loss amounts should be indicated with a minus sign.)

a. Assuming Adrian has no other capital gains or losses, how much of the loss is Adrian able to deduct on her year 4 tax return?

Answers

Answer:

6,880

Explanation:

A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called:
a. a cost center
b. a profit center
c. an operating center
d. an investment center

Answers

Answer:

d. an investment center

Explanation:

The investment center is the center that has the department manager responsibility towards cost, revenues, and the assets for the particular department.

Mainly the divisional manager responsible for the revenue and the cost

In addition to this, they also make the decisions which investment should be considered that contains high returns

Therefore the option d is correct

During her womanhood ceremony, Dasheena Cochise spends 4 days being tested and ultimately being renamed and remade as a member of her community. Which of the following is not true of this ceremony
A. it is a rite of passage
B. it reproduces a social order
C. it translates beliefs into action
D. it communicates values through symbols
E. it affirms sacred cycles (including life cycles)
F. it is essentially about the individual rather than the community

Answers

Answer:

The statement that is not true of this ceremony is:

F. it is essentially about the individual rather than the community

Explanation:

The focus of this communal rite of passage is not the individual but the community because during the rite, the sense of the individual is replaced by the sense of the community.  It instils in the initiates a sense that they are no longer individuals but members of the community with some rights and privileges.  Community values are communicated through a sophisticated system of beliefs and practices that affirm sacred cycles.

Analysts look for red flags in financial statements that may signal financial trouble. Which of the following is a red flag that suggests that a company may be in​ trouble? A. a consistent movement in​ sales, merchandise​ inventory, and accounts receivable B. operating activities are a major source of cash flows C. a significant decrease in net income for several years in a row D. a reduction in the debt ratio

Answers

Answer:

C. a significant decrease in net income for several years in a row

Explanation:

A  significant decrease in net income for several years in a row show that the firm is generating less revenue or its expenses are generally increasing at a rate greater than the sales. This may soon lead into a loss. A loss making firm will eventually have challenges in cashflow. So, this signals financial trouble.

Assume that the accounts receivable (in millions) were $1,308 at the beginning of
1. Compute the accounts receivable turnover for Year 2 and Year 1. Round to two decima
Best Buy, Media Play,
Buy reported the following (in millions):
Sales
Accounts receivable at end of year
fiscal Year 1.
Year 2
$39,528
1,162
Year 1
$40,339
1,280
places.
2. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 dans
and round to one decimal place.
3.
What conclusions can be drawn from (1) and (2) regarding Best Buys
efficiency in collecting receivables?
4.
What assumption did we make about sales for the Best Buy ratio computa-
tions that might distort the ratios and therefore cause the ratios not to be comparable
for Year 2 and Year 1?

Answers

Answer:

hhhhhhhhhhhhhhhhggggggg

The following information was available from the inventory records of Sheffield Corp. for January: Units Unit Cost Total Cost Balance at January 1 9200 $9.73 $89516 Purchases: January 6 6400 10.31 65984 January 26 7900 10.71 84609 Sales January 7 (7700 ) January 31 (11300 ) Balance at January 31 4500 Assuming that Sheffield does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar

Answers

Answer:

$45,990

Explanation:

The Weighted Average Cost Method, calculates a new Unit Cost with every purchase that is made. This is applicable to perpetual Inventory method. In this case we are required to use the periodic Inventory method (Sheffield does not maintain perpetual inventory records). Thus our Unit Cost is calculated from Inventory available for Sale.

Step 1

Units Available For Sales Calculation :

Opening Balance                           9,200

Add Purchases (6,400 + 7,900)   14,300

Units Available for Sale               23,500

Less Units Sold (7700 + 11300)  (19,000)

Ending Inventory Units                  4,500

Step 2

Unit Cost = Total Cost ÷ Units Available for Sale

                = ($89,516  + $65,984 + $84,609) ÷ 23,500

                = $10.22

Step 3

Ending Inventory = Units in Stock × Unit Cost

                             = 4,500 × $10.22

                             = $45,990

Beginning inventory, purchases, and sales data for prepaid cell phones for May are as follows: Inventory Purchases Sales May 1 1,300 units at $36 May 10 650 units at $38 May 12 910 units May 20 585 units at $40 May 14 780 units May 31 390 units Assuming that the perpetual inventory system is used, costing by the LIFO method, determine the cost of merchandise sold for each sale and the inventory balance after each sale. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Merchandise Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

Answers

Answer:

total cost of goods sold = $78,520

Explanation:

Inventory Purchases Sales

May 1 1,300 units at $36

May 10 650 units at $38

May 12 910 units

Cost of goods sold = (650 x $38) + (260 x $36) = $34,060

May 20 585 units at $40

May 14 780 units

Cost of goods sold = (585 x $40) + (195 x $36) = $30,420

May 31 390 units

Cost of goods sold = 390 x $36 = $14,040

total cost of goods sold = $34,060 + $30,420 + $14,040 = $78,520

Bantam company calculated its net income to be $77,600 based on the unadjusted trial balance. The following adjusting entries were then made for: Salaries and wages owed but not yet paid of $795. Interest earned but not received from investments of $755. Prepaid insurance premiums amounting to $555 have expired. Deferred revenue in the amount of $755 has now been earned. Required: Determine the amount of net income (loss) that will be reported after the adjustments are recorded.

Answers

Answer:

$77,760

Explanation:

After adjustment items of expenses will be deducted from the Net income, and items of income will be added to the net income.

Item of expenses = unpaid salary + Prepaid insurance (Expired)

Item of income = Interest earned + revenue

Net income after deduction = 77,600 - 795 - 555 + 755 + 755

Net income after deduction = $77,760

Billie Bob purchased a used camera (five-year property) for use in his sole proprietorship in the prior year. The basis of the camera was $2,400. Billie Bob used the camera in his business 60 percent of the time during the first year. During the second year, Billie Bob used the camera 40 percent for business use. Calculate Billie Bob's depreciation deduction during the second year, assuming the sole proprietorship had a loss during the year.

Answers

Answer:

Billie Bob

Depreciation deduction during the second year is:

$192.

Explanation:

a) Data and Calculations:

Property basis value = $2,400

Useful life = 5 years

Depreciable rate per year = $2,400/5 = $480

Depreciation deduction during the second year = $480 * 40% = $192

b) The depreciation deduction for year 2 is limited to the 40% business use.  This implies that Billie Bob cannot claim the 100% depreciation of $480 for the property since he could only use it 40% for his business.

What is the fundamental economic problem?

Answers

..........................

The fundamental economic problem is the issue of scarcity and how best to produce and distribute these scare resources. Scarcity means there is a finite supply of goods and raw materials. Finite resources mean they are limited and can run out.

Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their expectations quickly if they found anti-inflation policy credible. b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible. c. could be low because it was rational for people not to immediately change their expectations. d. could be high because it was rational for people not to immediately change their expectations.

Answers

Answer:

b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible

Explanation:

In the given situation, it is mentioned that the rational expectations proponets said that the sacrified ratio would be lesser as the people wants to adjust their expectations in a fastest way in the case when they found that the anti-inflation policy is credible

Therefore as per the given situation, the option b is correct

Germany is capital abundant country and Japan is labor abundant country. If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that Question 22 options: Japan will export computers in exchange for beer. Germany will export computers in exchange for beer. Germany is too small to be of economic interest to Japan. Computers and beer don't mix, so trade cannot increase either country's well-being.

Answers

Answer:

If computers are produced mostly by capital and beer is produced mostly by labor, the H-O model predicts that

Germany will export computers in exchange for beer.

Explanation:

The H-O model or Heckscher-Ohlin theory is an economic model about the comparative advantages of nations in international trade.  The model tries to explain the equilibrium of trade existing between two countries that have varying specialties and natural resources.  According to the H-O model, countries export more goods and services for which they have plenty resources than they do for goods and services for which they have scarce resources.  For example, if a country has capital in abundance, it will export more of capital-intensive products while it will import labor-intensive products, because it has scarce labor resources.

Brad's Diner is expanding and expects operating cash flows of $32,000 a year for 4 years as a result. This expansion requires $39,000 in new fixed assets. These assets will be worthless at the end of the project. In addition, the project requires $3,000 of net working capital throughout the life of the project. What is the net present value of this expansion project at a required rate of return of 12 percent

Answers

Answer: $57,101.73

Explanation:

First find the present value of the cash inflows. The $32,000 is a constant payment so is an annuity. The net working capital will be realized at the end of the project as well.

Present value of cash inflows = (32,000 * Present value interest factor of an annuity, 4 years, 12%) + 3,000/ (1 + 12%)⁴

= (32,000 * 3.0373) + 1,906.55

= ‭$99,101.73

NPV = Present value of inflows - Outflows

= ‭99,100.15‬ - (39,000 + 3,000)

= $57,101.73

Financial well-being refers to a person that (check all that apply) *

Answers

what are the options ?
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