Answer:
Purity Ice Cream Company
a. Depreciation Schedule, using straight-line method:
Cost Depreciation Accumulated Net Book
Expense Depreciation Value
Year 1 $9,000 $2,000 $2,000 $7,000
Year 2 $9,000 $2,000 4,000 5,000
Year 3 $9,000 $2,000 6,000 3,000
Year 4 $9,000 $2,000 8,000 1,000
b. Depreciation Schedule, using unit of production method:
Cost Depreciation Accumulated Net Book
Expense Depreciation Value
Year 1 $9,000 $2,750 $2,750 $6,250
Year 2 $9,000 $1,900 4,650 4,350
Year 3 $9,000 $1,600 6,250 2,750
Year 4 $9,000 $1,750 8,000 1,000
Explanation:
a) Data and Calculations:
Cost of ice cream maker = $9,000
Estimated useful life = 4 years
Residual value = $1,000
Depreciable amount = $8,000 ($9,000 - $1,000)
Annual depreciation (Straight-line method) = $2,000 ($8,000/4)
Estimated productive life the machine = 16,000 hours
Annual usage: Depreciation Expense
Year 1 5,500 hours $2,750
Year 2 3,800 hours 1,900
Year 3 3,200 hours 1,600
Year 4 3,500 hours 1,750
Total 16,000 hours $8,000
Depreciation rate per hour = $0.50 ($8,000/16,000)
Fultz Company has accumulated the following budget data for the year 2020.
1. Sales: 31,480 units, unit selling price $89.
2. Cost of one unit of finished goods: direct materials 1 pound at $5 per pound, direct labor 3 hours at $12 per hour, and manufacturing overhead $6 per direct labor hour.
3. Inventories (raw materials only): beginning, 10,270 pounds; ending, 15,380 pounds.
4. Selling and administrative expenses: $170,000; interest expense: $30,000.
5. Income taxes: 30% of income before income taxes.
Required:
a. Prepare a schedule showing the computation of cost of goods sold for 2020.
b. Prepare a budgeted multiple-step income statement for 2020.
Answer:
Part a
Fultz Company
Schedule of cost of goods sold for 2020.
Direct Materials (5,110 x $5) $25,550
Direct Labor (3 x $12 x 5,110) $229,950
Manufacturing overheads (3 x $6 x 5,110) $91,980
Total Cost $347,480
Part b
Fultz Company
Budgeted multiple-step income statement for 2020.
Sales (31,480 x $89) $2,801,720
Less Cost of Sales ($347,480)
Gross Profit $2,454,240
Less Expenses :
Operating Expenses
Selling and administrative expenses ($170,000)
Operating Profit $2,284,240
Less Non-Operating Expenses
Interest expenses ($30,000)
Net Income before Income taxes $2,254,240
Income tax expense ($676,272)
Net Income after Interest and tax $1,577,968
Explanation:
For a manufacturing firm, the cost of goods manufactured automatically becomes the cost of goods sold.
The first step is to calculate units of Raw Materials used. The difference in raw material inventories provides this amount as :
Units of Raw Materials used = 15,380 pounds - 10,270 pounds = 5,110 pounds
Remember a Multi-step Income Statement separates Profit generated from Primary Activities (Operating Profit) of the firm and those from Secondary Activities Activities (Net Income) as shown above.
United Merchants Company sells 38,000 units at $20 per unit. Variable costs are $14.20 per unit, and fixed costs are $108,000. Determine (a) the contribution margin ratio, (b) the unit contribution margin, and (c) income from operations. a. Contribution margin ratio (Enter as a whole number.) fill in the blank 1 % b. Unit contribution margin (Round to the nearest cent.) $fill in the blank 2 per unit c. Income from operations
Answer and Explanation:
The computation is shown below:
a. The contribution margin ratio is
= (Selling price - variable cost) ÷ (Selling price)
= ($20 - $14.20) ÷ $20)
= 29%
b. The contribution margin per unit is
= (Selling price - variable cost)
= ($20 - $14.20)
= $5.80
c. The income from operations is
= $5.80 × 38,000 units - $108,000
= $112,400
Despite the heavy reliance on e-mail, in certain situations calling may be the most efficient channel of communication, whether mobile or on your office line. Be sure to understand professional expectations for telephone, cell phone, and voice mail etiquette. Identify the telephone etiquette that will make your telephone calls productive. Check all that apply. Avoid telephone tag. End the call politely. Leave complete voice mail messages. Use a three-point introduction. Be professional and courteous.
Answer:
All options are correct
Explanation:
For a telephone call to be effective, it is necessary to introduce three points, where you must name the person you are calling, identify yourself and identify the reason for the telephone contact. It is ideal to avoid phone etiquette, as a clear and objective call will retain more attention and be more efficient.
If you are unable to communicate with the necessary person, it is ideal that the messages left in the voicemail are complete for the perfect understanding and identification of the reasons and how the person can return the contact if necessary.
In a phone call being professional and courteous is essential, through the tone of voice and cordiality of the attendant the attention will increase and the objectives of the call are more likely to be achieved, so throughout the call until its close, education must be the basis, because in addition to being necessary, the professional is a representative of the company that is calling, so ethics, education and cordiality are essential in any professional connection.
"Justin Company currently produces and sells 4,000 units of a product that has a contribution margin of $6 per unit. The company sells the product for a sales price of $20 per unit. Fixed costs are $18,000. The company is considering investing in new technology that would decrease the variable cost per unit to $6 per unit and double total fixed costs. The company expects the new technology to increase production and sales to 9,000 units of product. What sales price would have to be charged to earn a $90,000 target profit assuming the investment in technology is made?"
Answer:i dont know
Explanation:
The following information was taken from the segmented income statement of Restin, Inc., and the company's three divisions: Restin, Inc. Los Angeles Division Bay Area Division Central Valley Division Revenues $ 750,000 $ 200,000 $ 235,000 $ 325,000 Variable operating expenses 410,000 110,000 120,000 180,000 Controllable fixed expenses 210,000 65,000 75,000 70,000 Noncontrollable fixed expenses 60,000 15,000 20,000 25,000 In addition, the company incurred common fixed costs of $18,000. Assume that the Los Angeles division increases its promotion expense, a controllable fixed cost, by $10,000. As a result, revenues increased by $50,000. If variable expenses are tied directly to revenues, the new Los Angeles segment profit margin is:
Answer:
$112,500
Explanation:
With regards to the above information, we would compute first the Los Angeles division revenue.
Contribution margin
= Loss Angeles division revenues - Variable operating expenses
Los Angeles division revenues
= $200,000 + $50,000
= $250,000
Variable operating expenses
= ($110,000 × $250,000) / $200,000
= $137,500
Therefore,
Contribution margin
= $250,000 - $137,500
= $112,500
It means that if variable expenses are tied directly to revenues, the new Los Angeles profit margin would be $112,500
Oriole Inc. has completed the purchase of new Dell computers. The fair value of the equipment is $890,082. The purchase agreement specifies an immediate down payment of $216,000 and semiannual payments of $83,108 beginning at the end of 6 months for 5 years. What is the interest rate, to the nearest percent, used in discounting this purchase transaction
Answer:
Annual rate = 8%Semiannual rate = 4%Explanation:
The present value of the amount that is to be paid periodically:
= Fair value - Down payment
= 890,082 - 216,000
= $674,082
This is a semi annual payment so the variables need to be converted as such:
Period = 5 years * 2 = 10 semi annual periods
This payment is constant so it is an annuity.
Present value of annuity = Annuity * Present value interest factor, 10 periods, x percent
674,082 = 83,108 * Present value interest factor, 10 periods, x percent
Present value interest factor, 10 periods, x percent = 674,082 / 83,108
= 8.1109
If checked in the PVIFA Table, 8.1109 at 10 periods corresponds with 4%.
The annual interest rate is therefore:
= 4% * 2
= 8%
somebody help pls name two business ethics that the Snack Corner failed to adhere to.
Answer:
create a news report paragraph by using active and passive verb forms fictional or real about an environmental event about earthquakes select a location city or country
Explanation:
員員員員員員員員Prob(Total time in process > t) = EXP(-t/T) T = (1/(Rp - Ri)) = (1 / Rs) R = min(Ri, Rp) u=R/Rp Dominic runs an appliance repair shop and sells replacement parts for appliances to walk in customers. Customer take an average of 5 minutes. It is a single phase system with 1 server. The coefficient of arrivals and the coefficient of processing times is 1.0. If Dominic's utilization were 80%, how many would be standing in line waiting to be served?
Answer:
3.20 customers
Explanation:
If one customer takes 5 minutes then in 1 hour =
60/5 = 12 minutes
This is the service rate
Utilization = arrival rate divided by service rate
0.80 = AR / 12
AR = 0.89x12
Arrival rate = 9.6/hour
We get average of those waiting in system
AR/SR-AR
= 9.6/(12-9.6)
9.6/2.4
= 4
4 x 0.80 = 3.2 this is the average of those waiting in line
On January 1, 2021, the general ledger of 3D Family Fireworks includes the following account balances:Accounts Debit CreditCash $26,700 Accounts Receivable 15,000 Allowance for Uncollectible Accounts $ 3,600 Supplies 3,900 Notes Receivable (6%, due in 2 years) 18,000 Land 80,300 Accounts Payable 8,500 Common Stock 98,000 Retained Earnings 33,800 Totals $ 143,900 $ 143,900 During January 2021, the following transactions occur:January 2 Provide services to customers for cash, $49,100.January 6 Provide services to customers on account, $86,400.January 15 Write off accounts receivable as uncollectible, $3,300.January 20 Pay cash for salaries, $32,800.January 22 Receive cash on accounts receivable, $84,000.January 25 Pay cash on accounts payable, $6,900.January 30 Pay cash for utilities during January, $15,100.The following information is available on January 31, 2021.The company estimates future uncollectible accounts. The company determines $4,300 of accounts receivable on January 31 are past due, and 20% of these accounts are estimated to be uncollectible. The remaining accounts receivable on January 31 are not past due, and 5% of these accounts are estimated to be uncollectible. (Hint: Use the January 31 accounts receivable balance calculated in the general ledger.)Supplies at the end of January total $950.Accrued interest revenue on notes receivable for January. Interest is expected to be received each December 31.Unpaid salaries at the end of January are $34,900.1) Prepare the journal entries for transactions.2) Choose the appropriate accounts to complete the company's income statement.
Answer:
3D Family Fireworks
1. Journal Entries for Transactions:
Jan. 2 Debit Cash $49,100
Credit Service Revenue $49,100
To record services rendered for cash.
Jan. 6 Debit Accounts Receivable $86,400
Credit Service Revenue $86,400
To record services rendered on account.
Jan. 15 Debit Allowance for Uncollectible Accounts $3,300
Credit Accounts Receivable $3,300
To record uncollectible written off.
Jan. 20 Debit Salaries Expense $32,800
Credit Cash $32,800
To record payment for salaries expense.
Jan. 22 Debit Cash $84,000
Credit Accounts Receivable $84,000
To record cash collected on accounted.
Jan. 25 Debit Accounts Payable $6,900
Credit Cash $6,900
To record payment on account.
Jan. 30 Debit Utilities Expense $15,100
Credit Cash $15,100
To record utilities expense paid.
Income Statement for the month ended January 31, 2021:
Service Revenue $135,500
Interest Revenue 1,080
Total Revenue $136,580
Salaries Expense $32,800
Utilities Expense 15,100
Bad Debts Expense 1,060 48,960
Net Income $87,620
Explanation:
a) Data and Calculations:
Trial Balance as of January 1, 2021:
Debit Credit
Cash $26,700
Accounts Receivable 15,000
Allowance for Uncollectible Accounts $3,600
Supplies 3,900
Notes Receivable (6%, due in 2 years) 18,000
Land 80,300
Accounts Payable 8,500
Common Stock 98,000
Retained Earnings 33,800
Totals $ 143,900 $ 143,900
Transaction Analysis:
Jan. 2 Cash $49,100 Service Revenue $49,100
Jan. 6 Accounts Receivable $86,400 Service Revenue $86,400
Jan. 15 Allowance for Uncollectible Accounts $3,300 Accounts Receivable $3,300
Jan. 20 Salaries Expense $32,800 Cash $32,800
Jan. 22 Cash $84,000 Accounts Receivable $84,000
Jan. 25 Accounts Payable $6,900 Cash $6,900
Jan. 30 Utilities Expense $15,100 Cash $15,100
Jan. 31 Adjustments:
Allowance for Uncollectibles:
$4,300 Allowance for Uncollectibles $860 ($4,300 * 20%)
$9,800: Allowance for Uncollectible $490 ($9,800 * 5%)
$14,100 Allowance for Uncollectible $1,350
Allowance for Uncollectibles
Account Titles Debit Credit
Beginning balance $3,600
Accounts receivable $3,300
Bad Debts Expense 1,060
Ending balance 1,350
Interest Receivable $1,080
Interest Revenue $1,080
Service Revenue:
Service Revenue $49,100
Service Revenue $86,400
Service Revenue $135,500
You find a zero coupon bond with a par value of $10,000 and 24 years to maturity. The yield to maturity on this bond is 4.6 percent. Assume semiannual compounding periods. What is the price of the bond
Answer:
Zero-cupon bond= $3,357.14
Explanation:
Giving the following information:
Par value= $10,000
Number of years to maturity= 24*2= 48 semesters
YTM= 0.046/2= 0.023
To calculate the price of the bond, we need to use the following formula:
Zero-cupon bond= [face value/(1+i)^n]
Zero-cupon bond= [10,000 / (1.023^48)]
Zero-cupon bond= $3,357.14
Emil borrowed money so he would be able to afford to add a screened-in porch to the back of his house. When he applied for the loan, the rate on the loan was very low based given the current market trends. Over the following months, however, the market fluctuated a great deal, and suddenly he was faced with higher rates for the same loan. Which type of financial risk did Emil face?
a. income risk
b. interest rate risk
c. personal risk
d. inflation risk
Answer:
since i chose inflation risk and that was incorrect the only other logical option for me would be option B. Interest rate risk
Explanation:
The financial risk that Emil faced when he borrowed money at a low rate but due to market fluctuations, he faced higher rates later was b. interest rate risk.
What is interest rate risk?Interest rate risk is a financial risk that results from changes in the interest rate of an investment or loan.
Increasing credit risk gives rise to increased debt exposure. This can force a lending institution to increase the interest rate if the contract recognized a fluctuating rate (not fixed) at the initiation stage.
Thus, the type of financial risk that Emil faced when he borrowed money at a low rate but due to market fluctuations, he faced higher rates later was b. interest rate risk.
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Money serves three functions in the economy: medium of exchange, unit of account, and store of value.
For each of the following statements about inflation, indicate which function of money inflation is hindering.
Statement Store of value Unit of account Medium of exchange
Inflation erodes money's purchasing power.
Inflation causes menu costs.
In some countries with hyperinflation, prices are posted in terms of U.S. dollars rather than the local currency, even though the local currency is still used to purchase the good.
Answer:
medium of exchange
store of value
unit of account
Explanation:
Money is a valuable commodity and a medium of exchange. Modern economies use flat money that is not a community nor backed by the economy.
What do you mean by money as a medium of exchange?Money is a medium of exchange; allows people to get what they need to live. Trade was one of the exchanges of goods before money was created.
Like gold and other precious metals, money is a valuable commodity because to many people it represents something valuable.
About inflation, it leads the rise in prices and services and is a reason of the production of goods and services also gets affected in the economy.
Hence, Inflation affects the flow of money in the economy by reducing the purchasing power of clients.
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Match each capital budgeting method with its definition. METHODS 1. Accounting rate of return 2. Internal rate of return 3. Net present value 4. Payback Definition Capital Budgeting Method a. Is only concerned with the time it takes to get cash outflows returned b. Considers operating income but not the time value of money in its analyses c. Compares the present value of cash outflows to the present value of cash inflows to determine investment worthiness d. The true rate of return an investment earns
Answer:
1. Accounting rate of return ⇒ Considers operating income but not the time value of money in its analyses.
Accounting rate of return is only concerned with the rate of return made over the life of the asset.
2. Internal rate of return ⇒ The true rate of return an investment earns.
Internal rate of return shows the true rate of investment and it does so by equating the NPV to zero.
3. Net present value ⇒ Compares the present value of cash outflows to the present value of cash inflows to determine investment worthiness.
Net Present value allows us to subtract the present value of outflows from inflows and is a very useful capital budgeting techniques.
4. Payback ⇒ Is only concerned with the time it takes to get cash outflows returned.
Payback period is concerned with the time it would take to pay off the investment. It does not try to convince other titans.
An externality is defined as: the effect of an activity undertaken outside a building rather than inside a building. an effect of market activity that impacts the opposite side of the market from the side whose decision caused the effect. a side-effect of an activity that affects bystanders whose interests are not taken into account. the impact of an activity on buyers and sellers in the market where the activity takes place.
Answer: a side-effect of an activity that affects bystanders whose interests are not taken into account.
Explanation:
Externalities are side effects which can either be positive or negative that affect third parties n a transaction that they had no say over and whose interests were never taken into account.
The positive externalities benefit society but the negative ones reduce the overall welfare of society. For instance, the cigarette smoke from a smoker causing illness in another who wasn't smoking due to second hand smoke - this is negative.
Select the correct answer.
In terms of market research, which statement describes an advantage for businesses?
O Market research agencies always collect accurate market information, regardless of their client's guidance.
O Secondary sources are inexpensive and can meet any business's market research needs.
O Primary research methods, such as interviews, are highly reliable because respondents always give their honest opinions.
A business can explore new market opportunities with the help of accurate market research data.
Submit
Answer: A business can explore new market opportunities with the help of accurate market research data.
Explanation:
When market research data is accurate, a business is better able to know what consumers want and can therefore explore new opportunities to satisfy these needs and make healthy returns as a result.
If market research data is poor however, companies run the risk of either investing in a loss making venture or not investing in a potentially profitable venture because they did not know how profitable it would be.
At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $2,950,000. After the timber is cleared, the land will have a residual value of $670,000. Roads to enable logging operations were constructed and completed on March 30, 2021. The cost of the roads, which have no residual value and no alternative use after the tract is cleared, was $228,000. During 2021, Terra logged 570,000 of the estimated 5.7 million board feet of timber. Required: Calculate the 2021 depletion of the timber tract and depreciation of the logging roads assuming the units-of-production method is used for both assets
Answer:
depletion of the timber tract = $228,000 and
depreciation of the logging roads = $22,800
Explanation:
Timber tract
Depletion rate = (Cost - Residual Value) ÷ Estimated units
= ($2,950,000 - $670,000) ÷ 5,700,000
= $0.40
Depletion expense = Units used x Depletion rate
= 570,000 x $0.40
= $228,000
Logging Roads
Depreciation rate = (Cost - Residual Value) ÷ Estimated units
= ($228,000 - $0) ÷ 5,700,000
= $0.04
Depreciation expense = Units used x Depreciation rate
= 570,000 x $0.04
= $22,800
On January 1, Year 1, Hol Company hired a general contractor to begin construction of a new office building. Hol negotiated a $900,000, five-year, 10% loan on January 1, Year 1, to finance construction. Payments made to the general contractor for the building during Year 1 amount to $1,000,000. Payments were made evenly throughout the year. Construction is completed at the end of Year 1, and Hol moves in and begins using the building on January 1, Year 2. The building is estimated to have a 40-year life and no residual value. On December 31, Year 3, Hol Company determines that the market value for the building is $970,000. On December 31, Year 5, the company estimates the market value for the building to be $950,000.Required:Use the two alternative methods allowed by IAS 16 with respect to the measurement of property, Plant and equipment subsequent to initial recognition to determined.
Question Completion:
a. Determine the amount of the building that would be reported in the balance sheet at the end of Years 1 - 5.
b. Determine the amount that would be recognized in the income statement related to the building, in Years 1 - 5.
Answer:
Hol Company
a. Balance Sheet Year 1 Year 2 Year 3 Year 4 Year 5
Building (Cost or revalued
amount) $1,000,000 $1,000,000 $970,000 $970,000 $950,000
b. Income Statement Year 1 Year 2 Year 3 Year 4 Year 5
Depreciation Expense $25,000 $25,000 $25,526 $25,526 $26,389
Revaluation Loss $0 $0 $30,000 $0 $20,000
Explanation:
a) Data and Calculations:
Year 1 Cost of building = $1,000,000
Year 3 Revalued building = $970,000
Year 5 Revalued building = $950,000
b) IAS 16 allows the use of the Cost model and the Revaluation model.
The Massoud Consulting Group reported net income of $1,382,000 for its fiscal year ended December 31, 2021. In addition, during the year the company experienced a positive foreign currency translation adjustment of $380,000 and an unrealized loss on debt securities of $45,000. The company’s effective tax rate on all items affecting comprehensive income is 25%. Each component of other comprehensive income is displayed net of tax.
Required:
Prepare a separate statement of comprehensive income for 2021.
Answer: Check attachment
Explanation:
Kindly check the attachment.
Note that:
Foreign currency adjustment will be:
= $380000 × (1 - 25%)
= $380,000 × 75%
= $380,000 × 0.75
= $285,000
Loss on debt securities:
= $45000 × (1 - 25%)
= $45000 × 75%
= $45000 × 0.75
= $33750
Nutcracker, Inc has forecast sales for the next three months as follows: July 4,000 units, August 6,000 units, September 7,500 units. Nutcracker's policy is to have an ending inventory of 40% of the next month's sales needs on hand. July 1 inventory is projected to be 1,500 units. Selling and administrative costs are budgeted to be $15,000 per month plus $5 per unit sold. What are budgeted selling and administrative expenses for July
Answer:
$35,000
Explanation:
Use the provided cost formula :
Selling and administrative expense = $15,000 + $5y
where,
y is the number of units sold
Therefore,
Selling and administrative expense = $15,000 + $5 x 4,000 units
= $35,000
The world price of a liter of vodka is$7.00. While the distillation is done domestically, some of the grainsand materials for the bottle are imported. The value of imported components is$2.00. Assume that thereis no tariff on imported components used to make vodka.a) (1 points) What is the NRP for vodka if there is a tariff of$3.00
Answer:
The NRP for vodka is 42.8%.
Explanation:
Since the world price of a liter of vodka is $ 7.00, and while the distillation is done domestically, some of the grain and materials for the bottle are imported, and the value of imported components is $ 2.00, assuming that there is no tariff on imported components used to make vodka, to determine what is the NRP for vodka if there is a tariff of $ 3.00 the following calculation must be performed:
X = ((7 + 3) - 7) / 7
X = (10 - 7) / 7
X = 3/7
X = 0.428
Thus, the NRP for vodka is 42.8%.
Community hospital of the west is experiencing changes occurring throughout the facility, many of the employees are concerned about how the change will affect their current position and workflow. Although the employees are aware that change is occurring in the facility, there has been little communication regarding the changes and the employees are feeling unsettled. Describe the steps the hospital needs to do in order to better support employees during the transitional phase of change. What are some consequences for the hospital if this type of support is not provided
Answer:
in order to support the employees during the transitional phase of change, the hospital could try helping the employees get used to the new changes by maybe adding facilities that they are used to or maybe arrange some colleagues that the employees are familiar with to work with them, so they can get used to the new things with some support by their side.
consequences the hospital May face if they don't support their employees to make them feel more comfortable in their workplace, many of their workers May quit and it would be hard to find new employees and it would be time-consuming to teach the new employees all over again.
another consequence is that if their employees are the ones that make a lot of people want to go to their Hospital community, then losing them may make the people that go to the hospital community to not want to return again and maybe leave a bad review, since the help support care and treatment probably isn't the same.
Answer T or F to the following: _____ In general, job shop operations are larger than line flow operations. _____ In general, job shop operations use more general purpose equipment than line flow operations. _____ In general, job shop operations have higher variety of output than line flow operations. _____ In general, job shop operations have lower labour content than line flow operations. _____ In general, job shop operations are less flexible than line flow operations. _____ In general, job shop operations are more likely to measure their capacity by their outputs. _____ In general, job shop operations have less work in process inventory than line flow operations. _____ In general, job shop operations have higher skilled workers than line flow operations. _____ In general, job shop operations are less likely to compete on cost than line flow operations. _____ In general, job shop operations produce larger volume output than line flow operations.
Answer:
FalseTrueTrueFalseFalseFalseTrueTrueTrueFalseExplanation:
FalseThis is because Job shop operations are smaller than line flow operations
TrueThis is because line flow operations require more specific more specific tools
True.This is because high volume of a specific type of product
FalseThis is because in job shop the production of variety of products require a higher number of labor content
FALSEJob shop operations are more flexible than line flow operations
FALSEoperations are measured by degree of customization in job shops
TRUEJob shops are not usually involved in mass productions
TRUEJob shops posses higher skilled labors because of the customization involved with job shops
TRUELine flow operations are more cost effective because they produce in large quantities
FALSEThere is mass production in lie flow operation
Delisa Corporation has two divisions: Division L and Division Q. Data from the most recent month appear below:Total Company Division L Division QSales $ 541,000 $ 173,000 $ 368,000Variable expenses 323,720 117,640 206,080Contribution margin 217,280 55,360 161,920Traceable fixed expenses 111,910 38,710 73,200Segment margin 105,370 $ 16,650 $ 88,720Common fixed expenses 64,160Net operating income $ 41,210The break-even in sales dollars for Division Q is closest to:
Answer:
$173,000
Explanation:
The point at which a neither a profit or loss is made by a company is known as Break even point.
Break even (Sales dollars)
= Fixed cost / Contribution margin
Given that;
Fixed cost = $38,710
Contribution margin
= $55,360 / $173,000
= 0.32
Therefore,
Break even (Sales dollars)
= $55,360 / 0.32
= $173,000
The break even in sales dollars for Division Q is closest to $173,000
d. If money demand does not depend on the interest rate, the LM curve is vertical. True False e. If money demand does not depend on income, the LM curve is horizontal. True False f. If money demand is extremely sensitive to the interest rate, the LM curve is horizontal. True False g. Suppose the government wants to change the level of output. If the LM curve is horizontal, then fiscal policy is completely ineffective, whereas monetary policy is highly effective. monetary policy
Answer:
d. True
e. False
f. True
g. True
Explanation:
Interest rate movement is based on the fiscal policy of the government. If interest rates changes there is movement in the LM curve. This is because LM curve represents money market equilibrium of real interest rates. Monetary policy is completely ineffective if the interest rates does not change since the LM curve will be horizontal.
On June 30, 2020, Pier1 Inc. issued 500 shares of $1 common stock for $15 per share. On June 30, 2020, Pier5 Inc. reacquired 100 shares of common stock at $12 per share and immediately retired the shares. On December 15, 2020, Pier5 Inc. reacquired 200 shares of common stock at $19 per share and immediately retired the shares. By what amount did retained earnings decrease as a result of the reacquisition of common stock on December 15, 2020
Answer:
DON'T USE THAT LINK ITS A MALWARE SPAM
Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $2 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven manages Department SV and Charlene manages Department C. The product costs (per thousand gallons) follow:
Strawberry Vanilla Chocolate
Direct labor (per 1,000 gallons) $766 $841 $1,141
Raw materials (per 1,000 gallons) 816 516 616
Requirement 1:
If the number of hours of labor per 1,000 gallons is 60 for strawberry, 70 for vanilla, and 100 for chocolate, compute the total cost of 1,000 gallons of each flavor using plantwide allocation.
Total cost
Strawberry $1,702
Vanilla $1,497
Chocolate $1,957
Requirement 2:
Charlene's department uses older, outdated machines. She believes that her department is being allocated some of the overhead of Department SV, which recently bought state-of-the-art machines. After she requested that overhead costs be broken down by department, the following information was discovered:
Department SV Department C
Overhead $88,760 $915
Machine-hours 25,360 37,600
Labor-hours 25,360 18,300
Using machine-hours as the department allocation base for Department SV and labor-hours as the department allocation base for Department C, compute the allocation rate for each.
Allocation rate
Department SV $3.50
Department C $0.05
Requirement 3:
Compute the cost of 1,000 gallons of each flavor of ice cream using the department allocation rates computed in requirement 2 if the number of machine-hours for 1,000 gallons of each of the three flavors of ice cream are as follows: strawberry, 60; vanilla, 70; and chocolate, 166. Direct labor hours by product remain the same as in requirement 1.
Requirement 4:
A) Was Charlene correct in her belief?
B) Department allocation generally yields more accurate product cost information.
1) True
2) False
Answer:
See below
Explanation:
a. Compute the total cost per 1,000 gallons
Strawberry Vanilla Chocolate
Direct labor $766 $841 $1,141
Raw materials $816 $516 $616
Overhead (60×$2)$120 ($70×2)$140 (100×$2) $200
Total cost $1,702 $1,497 $1,957
Therefore,
Total cost = $1,702 + $1,497 + $1,957 = $5,156
b. Compute the allocation rate for each department
Allocation base
Allocation rate
Department SV Per machine hour $88,760/25,360 $3.5
Department C Per labor hour
$915/18,300 $0.05
c. Compute the total cost
Strawberry Vanilla Chocolate
Direct labor $766 $841 $1,141
Raw materials $816 $516 $616
Overhead (60×$3.5)$210 (70×$3.5)$245 (100×$3.5)$350
Total cost $1,792 $1,707 $2,107
Therefore,
Total cost = $1,792 + $1,707 + $2,107 = $5,606
How much is the value of mortgaged property, owned by a partner when invested in the partnership. Explain
Answer:
alls you have to do is ask the interne
The information that follows pertains to Esther Food Products: At December 31, 2018, temporary differences were associated with the following future taxable (deductible) amounts: Depreciation $ 70,000 Prepaid expenses 30,000 Warranty expenses (12,000 ) b. No temporary differences existed at the beginning of 2018. c. Pretax accounting income was $115,000 and taxable income was $27,000 for the year ended December 31, 2018. d. The tax rate is 45%. Required: Complete the following table given below and prepare the appropriate journal entry to record income taxes for 2018. x Tax Rate = Tax $ Recorded as: Pretax accounting income $ 112,000 Permanent differences x =Income subject to taxation x =Temporary Differences x =Income taxable in current year x =Record 2021 income tax
Answer:
1. Income taxable in current year $27,000.00 45% $12,150 Income Tax Payable
2. 31-Dec-18
Income tax expense Dr $17,250
Deferred tax assets Dr $12,150
Cr To Income taxes payable $12,150
Cr To Deferred tax liability $17,250
Explanation:
1. Computation of the given table to record income taxes for 2018
Particulars Amount Rate of Tax Tax Recorded as
Pretax accounting income $115,000.00
Permanent difference $0.00
Income subject to taxation
$115,000.00 45% $17,250 Income tax expense
TEMPORARY DIFFERENCE:
Depreciation -$70,000.00 45% -$31,500 Deferred tax liability
Prepaid Expenses -$30,000.00 45% -$13,500 Deferred tax liability
Warranty expense $27,000.00 45% $12,150 Deferred tax assets
Income taxable in current year $27,000.00 45% $12,150 Income Tax Payable
2. Preparation of the appropriate journal entry to record income taxes for 2018.
31-Dec-18
Income tax expense Dr $17,250
Deferred tax assets Dr $12,150
Cr To Income taxes payable $12,150
Cr To Deferred tax liability $17,250
(To record income tax expense)
Answer:
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Chapter 4
Analysis of Financial Statements
Problem 4-1 page 112
DAYS SALES OUTSTANDING Baker Brothers has a DSO of 40 days, and its annual sales are
$7,300,000. What is its accounts receivable balance? Assume that it uses a 365-day year.
Answer: $800,000
Explanation:
Day sales Outstanding = 40 days
Annual sales = $7,300,000
Total days for the year = 365 days
We need to know the average sales per day which will be:
= $7,300,000 / 365
= $20,000
DSO = Account receivable / Average sales per day
40 = Account receivable / 20,000
Account receivable = 40 × 20,000
= $800,000
Therefore, the account receivable balance is $800,000
What is purpose of public relations?
Answer:
Explanation:
The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
Answer:
Hey mate......
Explanation:
This is ur answer.....
The aim of public relations by a company often is to persuade the public, investors, partners, employees, and other stakeholders to maintain a certain point of view about it, its leadership, products, or of political decisions.
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