Answer:
C. All of the above tools are provided through this application.
Corbel Corporation has two divisions: Division A and Division B. Last month, the company reported a contribution margin of $41,600 for Division A. Division B had a contribution margin ratio of 45% and its sales were $271,000. Net operating income for the company was $34,000 and traceable fixed expenses were $59,100. Corbel Corporation's common fixed expenses were:
Answer:
$5,000
Explanation:
common fixed expenses = Contribution Margin - Net Income - traceable fixed expenses
= $41,600 + $121,950 - $34,000 - $59,100
= $70,450
Corbel Corporation's common fixed expenses were, $70,450
Probably the most important reason to have a partnership agreement is that ________. Group of answer choices it resolves potential sources of conflict that, if not addressed in advance, could later result in partnership battles and dissolution of an otherwise successful business it determines how the partnership and the partners will pay taxes it states the location and the purpose of the business
Answer:
It resolves potential sources of conflicts that, if not addressed in advance, could later result in partnership battles and dissolution of an otherwise successful business
Explanation:
A partnership agreement is a formal document or a contract endorsed by all the parties to the partnership business, which contains right, responsibilities and obligations of each partners.
It is important for partners to have an agreement, because it is legal, hence each partner must act according to the terms contained in the agreement. The basic reason or one of the most important reason to have this partnership agreement is to avoid legal tussles in the future, which could lead to the dissolution of the partnership business.
Rationalize 5√3 +2√6/3√3 -8√6
Answer:
[tex]-\frac{47+46\sqrt{2}}{119}[/tex]
Really sorry there's no working, everything got deleted and I did not want you to wait any longer.
Lucky Company's direct labor information for the month of February is as follows: Actual direct labor hours worked (AQ) 60,000 Standard direct labor hours allowed (SQ) 62,500 Total payroll for direct labor $ 900,000 Direct labor efficiency variance $ 35,000 The standard direct labor rate per hour (SP) for February (rounded to two decimal places) was:
Answer:
$14.4 per hour
Explanation:
Given the above information, the standard direct labor rate per hour
is computed as
Standard direct labor rate per hour
= Total standard direct labor cost / Total standard direct labor hours worked
= (SP × SQ) / SQ
= $900,000 / 62,500
= $14.4 per hour
Therefore, the standard direct labor rate per hour is $14.4
what is the main purpose of networking ?
On January 1, 20X6, Plus Corporation acquired 90 percent of Side Corporation for $180,000 cash. Side reported net income of $30,000 and dividends of $10,000 for 20X6, 20X7, and 20X8. On January 1, 20X6, Side reported common stock outstanding of $100,000 and retained earnings of $60,000, and the fair value of the noncontrolling interest was $20,000. It held land with a book value of $30,000 and a market value of $35,000 and equipment with a book value of $50,000 and a market value of $60,000 at the date of combination. The remainder of the differential at acquisition was attributable to an increase in the value of patents, which had a remaining useful life of five years. All depreciable assets held by Side at the date of acquisition had a remaining economic life of five years. Plus uses the equity method in accounting for its investment in Side.
29) Based on the preceding information, the increase in the fair value of patents held by Side is:
A) $20,000
B) $25,000
C) $15,000
D) $5,000
30) Based on the preceding information, what balance would Plus report as its investment in Side at January 1, 20X8?
A) $230,400
B) $180,000
C) $234,000
D) $203,400
31) Based on the preceding information, what balance would Plus report as its investment in Side at January 1, 20X9?
A) $251,100
B) $224,100
C) $215,100
D) $234,000
Answer:
29) B) $25,000
30) D) $203400
31) C) $215,100
Explanation:
Fair value of parents held by side will be $25,000.
Nabais Corporation uses the weighted-average method in its process costing system. Operating data for the Lubricating Department for the month of October appear below: Units % Complete with respect to Conversion Beginning WIP inventory 3,300 80% Transferred in from the prior Dept during October 30,700 Completed and transferred to next Dept during October 32,200 Ending work in process inventory 1,800 60%What were the equivalent units for conversion costs in the Lubricating Department for October?a. 29,200b. 32,200c. 31,780
Answer:
33,280 units
Explanation:
Calculation of equivalent units for conversion costs
Units Completed and Transferred (32,200 x 100%) 32,200
Units in Ending Inventory (1,800 x 60%) 1,080
Equivalent units of production 33,280
Therefore,
the equivalent units for conversion costs in the Lubricating Department for October is 33,280 units
Assume that you manage a risky portfolio with an expected rate of return of 12% and a standard deviation of 39%. The T-bill rate is 6%A client prefers to invest in your portfolio a proportion (y) that maximizes the expected return on the overall portfolio subject to the constraint that the overall portfolio's standard deviation will not exceed 30%. a. What is the investment proportion, y
Answer:
y = 0.76923076923 or 76.923076923% rounded off to 76.92%
So, 76.92% of the portfolio should be invested in risky portfolio.
Explanation:
The portfolio standard deviation for a portfolio consisting of two securities with one of them being the risk free security is calculated by multiplying the standard deviation of the risky security by the weightage of investment in the risky security as a proportion of the overall investment in portfolio. The formula can be written as follows,
Portfolio STDEV = Weight of Risky Asset * STDEV of risky asset
30% = y * 39%
30% / 39% = y
y = 0.76923076923 or 76.923076923% rounded off to 76.92%
For most accounting positions, the minimum educational requirement is
O A. a master's degree
B. a bachelor's degree
C. a combination of coursework and experience
D. a bachelor's degree plus some graduate coursework
Answer:
B, a bachelor's degree
just answered this question
For most accounting positions, the minimum educational requirement is a bachelor's degree. Hence, option B is correct.
What is accounting positions?Examples of typical accounting positions include auditor, budget analyst, accounts payable specialist, tax accountant, and forensic accountant. These roles can vary, as can the educational and professional requirements needed to get one of these occupations.
Although different professional accounting sources may categorize accounting occupations into different groupings, the four types outlined below represent the accounting positions that are typically found throughout the field.
These four fields of accounting include corporate, public, governmental, and forensic accounting. An entry-level accounting position that often answers to the controller in smaller companies or one of the higher level positions.
Thus, option B is correct.
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Sales revenue is forecasted to grow by 13% next year, forecasted net income is expected to be $30,000, and all current assets and current liabilities vary proportionally with sales. If $45,000 worth of net noncurrent assets are required to be purchased next year, what is the external financing needed
Answer:
17,320.5
Explanation:
Calculation to determine the external financing needed
Using this formula
External Financing Needed = Increase in current assets+Increase in non current assets-Increase in spontaneous liabilities -Retained earnings
External Financing Needed = (42,500*13%)+45,000-(24,650*13%)-30000
External Financing Needed = 5,525+45,000-3,204.5-30,000
External Financing Needed =17,320.5
Therefore the external financing needed will be
17,320.5
Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing. 2019 2020 2021 Sales revenue $290,990 $ 361992 $406,460 Sales returns and allowances (11,310) (13,570) Net sales 279680 348,422 Beginning inventory 18,810 30,350 Ending inventory 30350 291870 Purchases 11540 261,520 296,357 Purchase returns and allowances (4,790) (8,210) (10,760) Freight-in 8,610 9,340 13,020 Cost of goods sold (231,970) (293000) (292,188) Gross profit on sales 47,710 85,860 91,540
Incomplete question. However, I determined the missing amounts for each tabulation, and stated them below:
Explanation:
Sales revenue: 2014= $360,820.Sales returns and allowances: 2015= 20,740.Net sales: 2013= 282970, 2015= 393,440.Beginning inventory: 2015= 42,010.Ending inventory: 2013= 33,560, 2014= 42,010, 2015= 47,870.A source document should always do which of the following?
A. Be printed on paper
B. Record the date of the transaction
C. Bear an authorized
D. Include a number that can be used for recording
Answer:
Record the date of transaction
Explanation:
Carbonale Castings produces cast bronze valves on a 10-person assembly line. On a recent day, 160 valves were produced during an 8-hour shift. The productivity of the line is valves per hour. John Goodale, the manager of Carbondale, changed the layout and was able to increase production to 180 valves per 8-hour shift. The new productivity is valves per hour. The % productivity increase is %. Round all answers to 2 decimal places.
Answer:
Missing word " Calculate the labor productivity of the line. b) John Goodale, the manager at Carbondale, changed the layout and was able to increase production to 180 units per 8-hour shift. What is the new labor productivity per labor-hour? c.) What is the percentage of productivity increase?"
a) Output = 160 valves
Input = 10*8 = 80 labor hours
Productivity = Output / Input
Productivity = 160/80
Productivity = 2 valves per labor hour
b) Output = 180 valves
Input = 10*8 = 80 labor hour
Productivity = Output/Input
Productivity = 180/80
Productivity = 2.25 valves per labor hour
c) Percentage increase in the productivity = [(2.25 - 2) / 2] * 100
Percentage increase in the productivity = 0.125 * 100
Percentage increase in the productivity = 12.5%
Kiner Co. computed an overhead rate for machining costs ($400000) of $5 per machine hour. Machining costs are driven by machine hours. If computed based on direct labor hours, the overhead rate for machining costs would be $10 per direct labor hour. The company produces two products, Cape and Chap. Cape requires 50400 machine hours and 20000 direct labor hours, while Chap requires 29600 machine hours and 30000 direct labor hours. Using activity-based costing, machining costs assigned to each product is:_______.
Cape Chap
a. $750000 $250000
b. $252000 $148000
c. $216615 $183385
d. $200000 $300000
Answer:
b. $252000 $148000
Explanation:
Total OH using MC Hrs = $400000
Mch Hr OH Rate = $5 per Mc Hr
No of Mc Hrs = $400000/5 = 80,000 Mc Hrs
Cape uses 50400 Mc Hrs. So Mc OH = 50400*$5 = $252,000
Chap uses 29600 Mc Hrs. So Mc OH = 29600*$5 = $148,000
Kansas Enterprises purchased equipment for $74,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $6,450 at the end of ten years. Using the straight-line method, depreciation expense for 2022 and the book value at December 31, 2022, would be: Multiple Choice $6,805 and $54,440. $7,450 and $59,600. $7,450 and $53,150. $6,805 and $60,890.
Answer:
$6,805 and $60,890.
Explanation:
The computation of the depreciation expense for 2022 and the book value at December 31, 2022 is shown below;
Depreciation expense is
= (Cost - salvage value) ÷ useful life
= ($74,500 - $6,450) ÷ 10 years
= $6,805
And, the book value is
= $74,500 - ($6,805 × 2)
= $60,890
For the current year ($ in millions), Universal Corp. had $80 in pretax accounting income. This included warranty expense of $7 and $20 in depreciation expense. Two million of warranty costs were incurred, and depreciation deductions in the tax return amounted to $30. In the absence of other temporary or permanent differences, what was Universal's income tax payable currently, assuming a tax rate of 25%
Answer:
$18.75
Explanation:
Calculation to determine the Universal's income tax payable currently
Accounting income $80
Depreciation ($30 - 20) (10)
Warranty expense ($7 - 2) 5
Taxable income $75
($80-$10+$5)
Enacted tax rate 25%
Tax payable currently $18.75
(25%*$75)
Therefore the Universal's income tax payable currently will be $18.75
QS 7-12 Note receivable honored LO P4 On August 2, Jun Co. receives a $7,100, 90-day, 12.0% note from customer Ryan Albany as payment on his $7,100 account receivable. Prepare Jun's journal entry assuming the note is honored by the customer on October 31 of that same year. (Do not round intermediate calculations. Round your answers to nearest whole dollar value. Use 360 days a year.)
Answer: See explanation
Explanation:
Firstly, the interest revenue will be calculated as:
= 7,100 × 12% × 90/360
= 7100 × 0.12 × 0.25
= $213
Therefore, Jun's journal entry assuming the note is honored by the customer on October 31 will be:
Debit: Cash = $7313
Credit: Notes receivable = $7100
Credit: Interest revenue = $213.
Your firm invested $2,504,600 in 350-day commercial paper today. At the end of the investment period (in 350 days) the firm will receive $2,592,400. a. What is the 350-day holding period rate of return on the investment
Answer:
The 350-day holding period rate of return on the investment is:
= 3.5%
Explanation:
a) Data and Calculations:
Investment = $2,504,600
Total receipts from investment = $2,592,400
Investment period = 350 days
Returns (dollars) = $87,800 ($2,592,400 - $2,504,600)
Rate of return = $87,800/$2,504,600 * 100
= 3.5%
b) The rate of return is calculated as ((Current value - Original value) / Original value) x 100. It shows, in percentage terms, the return earned by an investment over a period of time.
Peter Company acquired 75 percent of Sally Company on January 1, 2019 for $712,500. During 2019, Sally purchased inventory for $35,000 and sold it to Peter for $50,000. Of this amount, Peter reported $20,000 in ending inventory in 2019 and later sold it in 2020. In 2020, Peter sold inventory it had purchased for $40,000 to Sally for $60,000. Sally sold $45,000 of this inventory in 2020. Required Prepare any necessary equity method entry(ies) on the books of Peter during 2019 made necessary by the above noted purchases of inventory.
Answer:
Journal entry to eliminate Sale to Peter Company
Debit : Sales Revenue (Sally Company ) $50,000
Credit : Cost of Sales (Peter Company) $50,000
Explanation:
Peter Company and Sally Company are in a group and Peter Company is the Parent whilst Sally Company is the subsidiary.
For 2019 Eliminate an Intragroup Transactions that occur between Peter Company and Sally Company.
Jenna began the year with a tax basis of $45,000 in her partnership interest. Her share of partnership debt consists of $6,000 of recourse debt, and $10,000 of nonrecourse debt at the beginning of the year, and $6,000 of recourse debt, and $13,000 of nonrecourse debt, at the end of the year. During the year, she was allocated $65,000 of partnership ordinary business loss. Jenna does not materially participate in this partnership, and she has $4,000 of passive income from other sources.A) How much of Jenna's loss is limited by her tax basis?B) How much of Jenna's loss is further limited by her at-risk amount?C) How much of Jenna's loss is further limited by the passive activity loss rules?
Answer:
a) Jenna's tax basis = $45,000 + ($13,000 - $10,000) = $48,000
loss allocation = $65,000
loss limited by her tax basis = $65,000 - $48,000 = $17,000
b) Jenna's at risk loss = $48,000 - $13,000 = $35,000
c) Jenna's loss limited by passive activity = $35,000 - $4,000 = $31,000
The amount of loss limited by Jenna’s tax basis is $20,000; the amount of Jenna’s loss that is further limited by her at-risk amount is $10,000; and the amount of Jenna’s loss that is further limited by the passive activity loss rules is $31,000.
What is Tax -Basis?The basis for each partner's tax base is the sum of the partner's contribution amount and the share of the debt and any income earned. Distribution reduces the partner tax base.
Calculations of The Amount of Loss Limited Tax Basis, At-Risk Amount, and Passive Activity Loss Rules:
a) Amount of loss limited by Jenna’s tax basis is Loss allocated to Jena – Jena’s Tax Basis.
[tex]\rm\,Amount\; of \;loss \;limited\; by \;Jennas\; tax\; basis\; = \$65,000 - \$45,000[/tex]
Amount of loss limited by Jenna’s tax basis is $20,000
B) The amount of Jenna’s loss that is further limited by her at-risk amount can be calculated as follows: is At-risk limitation - Amount of loss limited by Jenna’s tax basis (1)
Where:
[tex]\rm\, At-risk\, limitation = Loss \,allocated \,to \,Jena - At\,-risk \,amount\, limitation\, \\\\= \,Loss\, allocated\, to\, Jena\, - (\,Tax \,basis\, - Nonrecourse\, Debt)[/tex]
[tex]= \$65,000 - (\$45,000 - \$10,000) \\= \$30,000[/tex]
Substituting the relevant values into equation (1), we have:
Amount of Jenna’s loss that is further limited by her at-risk amount
[tex]= \$30,000 - \$20,000\\ = \$10,000[/tex]
C) The amount of Jenna’s loss that is further limited by the passive activity loss rules can be calculated as follows:
Amount of Jenna’s loss that is further limited by the passive activity loss rules:
[tex]= \rm\,At-risk\; amount \;limitation - Passive \;income \\= Tax \;basis - Nonrecourse\; Debt) - Passive \;income \\= (\$45,000 - \$10,000) - \$4,000 \\= \$31,000[/tex]
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Information about three securities appears next. Beginning-of-Year Price End-of-Year Price Interest/Dividend Paid Stock 1 $ 42.60 $ 46.85 $ 1.60 Stock 2 $ 1.35 $ 1.46 $ 0 Bond 1 $ 1,030 $ 1,058 $ 42.00 a. Assuming interest and dividends are paid annually, calculate the annual holding period return on each security. (Round your answers to 1 decimal place.)
Answer:
Stock 1 Annual holding period returns 13.73%
Stock 2 Annual holding period returns 8.15%
Bond 1 Annual holding period returns 6.80%
Explanation:
Calculation to determine the annual holding period return on each security
Using this formula
Annual holding period return=(End of the year price-Beginning of year price +Interest or dividend paid)/(Beginning of year price )
Let plug in the formula
Stock 1 Annual holding period returns
Stock 1 Annual holding period returns=(46.85-42.60+1.60)/42.60
Stock 1 Annual holding period returns=5.85/42.60
Stock 1 Annual holding period returns=0.1373*100
Stock 1 Annual holding period returns=13.73%
Stock 2 Annual holding period returns=(1.46-1.35+0)/1.35
Stock 2 Annual holding period returns=0.11/1.35
Stock 2 Annual holding period returns=0.0815*100
Stock 2 Annual holding period returns=8.15%
Bond 1 Annual holding period returns =(1,058-1,030+42)/1,030
Bond 1 Annual holding period returns=70/1,030
Bond 1 Annual holding period returns=0.0679*100
Bond 1 Annual holding period returns=6.80% (Approximately)
Therefore the annual holding period return on each security will be :
Stock 1 Annual holding period returns 13.73%
Stock 2 Annual holding period returns 8.15%
Bond 1 Annual holding period returns 6.80%
Each of the following firms benefits from barriers to entry in its industry. Indicate whether each of the barriers is natural or government created.
a. A small-town bar that is the only establishment in the county licensed to serve liquor.
b. A diamond company that owns nearly all of the world's diamond mines
c. A pharmaceutical company receives a patent for a new cancer-fighting drug
d. A soda company that spends over $3 billion on advertising every year
e. A waste-treatment plant that cost a lot to build even though it costs only two cents to treat each gallon of waste
Answer:
Natural:
b.A diamond company that owns nearly all of the world's diamond mines.
d.A soda company that spends over $3 billion on advertising every year.
e.A waste-treatment plant that cost a lot to build even though it costs only two cents to treat each gallon of waste.
Government
a.A small-town bar that is the only establishment in the county licensed to serve liquor.
c. A pharmaceutical company receives a patent for a new cancer-fighting drug.
Explanation:
Government barriers are licenses or patents that prevent future firms from entering, natural is everything else.
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Question 1: Sales price variance, sales volume variance, and fixed cost variance Budgeted Actual Price $300 $350 Sales volume in units 80 75 Unit VC $100 $120 Fixed costs $100,000 $120,000 a) Without computations, characterize the following variances as favorable or unfavorable: sales price variance F U sales volume variance F U fixed cost variance F U b) Compute the following variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter F or U after the number. sales price variance
Answer:
a-1 Sales price variance is favorable (F).
a-2 Sales volume variance is favorable (F).
a-3 Fixed cost variance is unfavorable (U).
b-1 Sales price variance = $3,750
b-2 Sales volume variance = -$1,500
b-3 Fixed cost variance = -$20,000
Explanation:
Note: This question is not complete an the data in its are merged together. The complete question with the sorted data are therefore provided as follows:
Question 1: Sales price variance, sales volume variance, and fixed cost variance
Budgeted Actual
Price $300 $350
Sales volume in units 80 75
Unit VC $100 $120
Fixed costs $100,000 $120,000
a) Without computations, characterize the following variances as favorable or unfavorable:
sales price variance F U
sales volume variance F U
fixed cost variance F U
b) Compute the following variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter F or U after the number.
sales price variance
sales volume variance F U
fixed cost variance
The explanation of the answers is now given as follows:
a) Without computations, characterize the following variances as favorable or unfavorable:
a-1 Sales price variance F U
When the Actual price is greater than the Budgeted price, Sales price variance is favorable (F). But when the Actual price is less than the Budgeted price, Sales price variance is unfavorable (U).
Since the Actual price is greater than the Budgeted price in this question, the Sales price variance is favorable (F).
a-2 Sales volume variance F U
When the Actual sales volume in units is greater than the Budgeted sales volume in units, Sales volume variance is favorable (F). But when the Actual sales volume in units is less than the Budgeted sales volume in units, Sales volume variance is unfavorable (U).
Since the Actual sales volume in units is less than the Budgeted sales volume in units in this question, the Sales volume variance is unfavorable (U).
a-3 Fixed cost variance F U
When the Actual Fixed costs is less than the Budgeted Fixed costs, Fixed costs variance is favorable (F). But when the Actual Fixed costs is greater than the Budgeted Fixed costs, Fixed costs variance is unfavorable (U).
Since the Actual Fixed costs is greater than the Budgeted Fixed costs in this question, the Fixed costs variance is unfavorable (U).
b) Compute the following variances. Enter favorable variances as a positive number and unfavorable variances as a negative number. Do NOT enter F or U after the number.
b-1 Calculation of sales price variance
This can be calculated as follows:
Sales price variance = (Actual price - Budgeted price) * Actual sales volume in units = ($350 - $300) * 75 = $3,750
b-2 Calculation of sales volume variance
This can be calculated as follows:
Sales volume variance = (Actual sales volume in units - Budgeted sales volume in units) * Budgeted price = (75 - 80) * $300 = -$1,500
b-3 Calculation of fixed cost variance
Fixed cost variance = Actual fixed costs - Budgeted fixed costs = $120,00 - $100,000 = -$20,000
Question 12
Indicate in which expenditure of GDP the following item would be placed.
New computer for your home.
Consumer spending
Investment expenditure
O Government expenditure
Answer: Consumer Spending
Explanation:
Consumer or consumption spending is the largest component of GDP and represents spending by households for goods and services. The goods purchased are to satisfy utility and not for investment.
A computer purchased for home use will therefore fall under Consumer spending because it was bought to satisfy the needs of the household. Had it been bought for a business it would have been an investment.
Partners Cantor and Dickens have capital balances in a partnership of $153000 and $241000, respectively. They agree to share profits and losses as follows: Cantor Dickens As salaries $39100 $49000 As interest on capital at the beginning of the year 10% 10% Remaining profits or losses 50% 50% If net loss for the year was $8100, what will be the allocation to Dickens
Answer: $69,050
Explanation:
Net loss would imply that the salaries and interest on capital have already been deducted from income thus leaving the partners with a net loss.
Dicken's allocation would be:
= Salary + Interest on capital + share of profit
= 49,000 + (10% * 241,000) + (50% * -8,100)
= 49,000 + 24,100 - 4,050
= $69,050
Red Blossom Corporation transferred its 40 percent interest to Tea Company as part of a complete liquidation of the company. In the exchange, Red Blossom received land with a fair market value of $555,000. The corporation's basis in the Tea Company stock was $422,500. The land had a basis to Tea Company of $815,000. What amount of gain does Red Blossom recognize in the exchange and what is its basis in the land it receives
Answer:
$132,500 gain recognized and a basis in the land of $555,500.
Explanation:
The given values are:
Fair market value,
= $555,000
Corporation's basis in the company stock,
= $422,500
Land basis,
= $815,000
Now,
The recognized gain will be:
= [tex]Fair \ market \ value-Corporation's \ basis[/tex]
On substituting the given values, we get
= [tex]555,000-422,500[/tex]
= [tex]132,500[/tex] ($)
Basis in land will be equal to fair market value i.e., $555,000.
Thus the above is the correct solution.
Kristen and Harrison are equal partners in the KH Partnership. The partners formed the partnership five years ago by contributing cash. Prior to any distributions Harrison has a basis in his partnership interest of $45,500. On December 31, KH makes a proportionate operating distribution of $48,500 cash to Harrison. What is the amount and character of Harrison's recognized gain or loss and what is his remaining basis in KH
Answer:
Harrison would have a gain of $3,000 and his remaining basis in KH partnership would now be $0.
Explanation:
With regards to the above, in order for Harrison to make any gain, the amount of cash received by him from operating distribution in the KH partnership should be greater than his share or basis in the partnership business. Here, the cash received $48,500 received by him is actually more that his basis $45,500; hence he has a gain of $3,000[$48,400 - $45,500]
Also, since he(Harrison) has allocated his entire basis in KH partnership, this means that he has no basis left. After the operating distribution , he has $0 basis left in KH partnership.
Describe how the singer Madonna repositioned her Brand throughout the 4 decades that she has been in the entertainment business. Use examples that relate to Brand Repositioning.
Answer:
Ladies and Gentlemen, that’s Madonna.
Most people think of sex-soaked, counter-cultural extravagance when they reflect on Madonna’s career.
I see something else. Fearless mastery of her brand and message.
Madonna doesn’t flinch. She’s mastered her craft. She never lost sight of her goals. That’s why she’s the #1 female music performer of all time. Her dominance of the pop genre is the reason that virtually every performer (male and female) puts her on their Top 10 Greatest Talent list.
You can take a page from her book and rule your brand and niche with decade-spanning impunity.
For each of the statements below, use the dropdown box to select the response that completes the sentence correctly. Knowledge Check 01 When the units produced are equal to the units sold, the net operating income computed using the variable costing method is ______ the net operating income using the absorption costing method. multiple choice 1 is less than is equal to is greater than Knowledge Check 02 When the units produced exceed the units sold, the net operating income computed using the variable costing method is ______ the net operating income using the absorption costing method. multiple choice 2 is greater than is equal to is less than Knowledge Check 03 When the units produced are less than the units sold, the net operating income computed using the variable costing method is ______ the net operating income using the absorption costing method. multiple choice 3 is greater than is equal to is less than
Answer:
a. is equal to
b. is greater than
c. less than
Explanation:
The difference between variable costing and absorption costing methods is that the overheads are treated differently. While absorption costing method does not differentiate the fixed manufacturing overheads from the variable manufacturing costs, the variable costing method only accounts for the variable elements of all costs, whether manufacturing cost or not.
Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production and sales of Product of R3 is 1,100 units and of Product N0 is 400 units. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product R3 1,100 10.0 11,000 Product N0 400 5.0 2,000 Total direct labor-hours 13,000 The direct labor rate is $20.60 per DLH. The direct materials cost per unit is $211.00 for Product R3 and $287.00 for Product N0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product R3 Product N0 Total Labor-related DLHs $ 40,636 11,000 2,000 13,000 Production orders orders 65,880 1,200 400 1,600 Order size MHs 433,075 3,900 3,700 7,600 $ 539,591 The unit product cost of Product R3 under activity-based costing is closest to
Answer:
$695.24 per unit
Explanation:
Calculation to determine what The unit product cost of Product R3 under activity-based costing is closest to
First step is to Calculate Activity rates
Activity Cost Pool Activity driver Overhead Cost (A) Expected Activity (B) Activity rate (A/B)
Labor related Number of DLH $ 40,636÷13,000 = 3.13 Per DLH
Production orders Number of Order 65,880÷ 1,600= 41.18 Per Order
Order size Number of MH 433,075÷ 7,600 = 56.98 Per MH
Second step is to calculate the Cost assigned to Product R3
Cost assigned to Product R3
Activity name Activity Rates Activity ABC Cost
(A) (B) (A x B)
Labor related 3.13 * 11,000 =$34,430
Production orders 41.18* 1,200=$49,416
Order size 56.98*3,900= $222,222
Total Overheads assigned $306,068
($34,430+$49,416+$222,222)
Production 1,100
Overhead cost per unit $278.24
Product R3
Direct material $211
Direct labor (10x $20.60 per DLH) $206
Overheads $278.24
Total Cost per unit $695.24
($211+$206+$278.24)
Therefore The unit product cost of Product R3 under activity-based costing is closest to $695.24 per unit