Answer:
Total cost - Purchases = $3,481,200
Explanation:
We first need to find out the requirement for fabric to produce 20100 ragdolls and adjust it for the already available inventory of fabric (beginning inventory) and the desired ending inventory.
The production of 20100 ragdolls will require fabric of,
Fabric required = 20100 * 15 => 301500 square feet
The purchase of fabric in square feet will be,
Production = Beginning Inventory + Purchases - Ending Inventory
301500 = 23900 + Purchases - 12500
301500 + 12500 - 23900 = Purchases
Purchases = 290100 square feet
The total cost of fabric purchases will be,
Total cost - Purchases = 290100 * 12
Total cost - Purchases = $3,481,200
Identify which situation will lead to a fall in the net exports.
a.
More government spending than taxation
b.
More taxation than government spending
c.
More exports than imports
d.
More imports than exports
Help Fast please
Answer:
Use the drop-down menus to answer the questions.
In this circular flow mode, what does the letter A present?
✔ financial sector
What does the letter B represent?
✔ government sector
What does the letter C represent?
✔ foreign sector
What does the letter D represent?
✔ leakages
Explanation:
got it right on edge
Tony runs a sales and marketing research firm. He is very hands-on and participates in various client meetings. In almost all his conversations, Tony repeats or rephrases what a person has said. Which crucial aspect of good listening skills does Tony demonstrate? A. questioning B. negotiation C. reflecting D. confronting
Answer:
C. Reflecting
Explanation: it is correctomando
ACTIVITY 7
7.1 Read the following text and answer the following questions.
VENTURING AND EXPANDING
Businessmen have realised that it is not always necessary to start a business from scratch. In order to
expand, wise businessmen have given other businesses a right to sell their similar products within some
regulations. Others have been smart enough to realise that their small items that require regular
maintenance can make money for by contracting them to another business. It is even more
advantageous when an institution decides to focus on its vision and improve their quality by allowing
specialists to perform other duties on their behalf.
7.1.1
Identify THREE ways of acquiring a business avenue from the scenario above. Motivate your
answer by quoting from the scenario above.
(9)
Use the table below to present your answer.
BUSINESS AVENUE
MOTIVATION
7.1.2
Analyse the impact of each of way of acquiring a business avenue identified in QUESTION
7.1.1.
(18)
7.1.3
Outline the contractual obligations of any TWO of the ways to acquire a business avenue
identified in QUESTION 7.1.1
(12)
Answer:
add a responsible business partner that add income to your sales and together you can achieve your success
what is hospitableness in your own understandings?
Answer: Hospitableness is being able to make someone feel welcomed in your home,Such as asking them if they need a drink,or food etc. Basically anything to make the person feel comfortable.
Savers make deposits and investments in order to earn what?
Why don't savers invest their money directly with the businesses?
Answer:
Savers make deposits and investment in order to earn interest on their money. This often works very well because they do not earn only interest as a percentage of their money, but also interest as a percentage of previously accrued interest, something known as compound interest.
Savers do not invest their money directly with the businesses because real economic activity tends to be riskier (although it could also be more profitable for this same reason). This is why they often prefer to invest the money on financial instruments.
Ursula, a conventional advertising manager, allocates a sizeable amount of funds toward advertising budgets. She is primarily concerned with the sales figures at the end of every quarter and calculates return on investment for her company's product portfolio. Based on these characteristics, which of the following approaches to advertising does Ursula follow?
a. The marketing management approach
b. The generalist viewpoint
c. The specialist viewpoint
d. The consumer attrition perspective
Answer:
b. The generalist viewpoint
Explanation:
From the question we are informed about Ursula, a conventional advertising manager, allocates a sizeable amount of funds toward advertising budgets. She is primarily concerned with the sales figures at the end of every quarter and calculates return on investment for her company's product portfolio. Based on these characteristics, the approaches to advertising Ursula followed was the generalist viewpoint. Generalist can be regarded as social workers which view problems from context, and they combine some practice techniques that are best fit the situation, so some implement skills needed to intervene can be made available. They are available for well being of the clients since they knows problems can develop at any level of daily living.
) Consider two perfectly negatively correlated risky securities A and B. A has an expected rate of return of 10% and a standard deviation of 16%. B has an expected rate of return of 8% and a standard deviation of 12%. The risk-free portfolio that can be formed with the two securities will earn a(n) ________ rate of return. A) 8.9% B) 9.9% C) 8.5% D) 9.0%
Answer:
D) 9.0%
Explanation:
Calculation to determine what The risk-free portfolio that can be formed with the two securities will earn
Using this formula
Return of the portfolio =Weight of stock A * Return of Stock A + Weight of Stock B * Return of Stock B
Let plug in the formula
Return of the portfolio=( 0.5 * 0.1)+ (0.5 * 0.08)
Return of the portfolio= 0.05 + 0.04
Return of the portfolio= 0.09*100
Return of the portfolio= 9%
Therefore The risk-free portfolio that can be formed with the two securities will earn a(n) 9.0% rate of return.
Striker Company estimates its expected cash receipts for the period to be $80,000 and its expected cash disbursements to be $70,000. The beginning cash balance for the period was $5,000. The management wants to maintain a minimum cash balance of $40,000. Knowledge Check 01 How much cash will the company need to borrow
Answer:
$25,000
Explanation:
Calculation for How much cash will the company need to borrow
Cash needed to borrow=$40,000 - (($80,000 - $70,000) + $5,000).
Cash needed to borrow=$40,000+$10,000-$5,000
Cash needed to borrow=$25,000
Therefore How much cash will the company need to borrow is $25,000
A company with various segments (referred to as "divisions") is considering whether to drop its Orange County division. For each the costs described below, indicate whether the cost is avoidable or unavoidable by choosing the related drop-down menu item.
1. Wages paid to the Orange County division employees who work directly for this division and will be discharged if the division is dropped.
2. General administrative expenses allocated to the Orange County division on the basis of sales dollars.
3. Depreciation expense on previously purchased machinery that is used in the Orange County division; the machinery will have no other use or resale value if the division is dropped.
4. Rent paid for the building that houses only the Orange County division.
5. The amount of rent paid to lease a private jet for use by the company's management that is allocated to the Orange County division.
Answer:
1. Avoidable.
These wages are avoidable because they will stop being paid if the division is dropped.
2. Unavoidable.
These are general administrative expenses which means that they will still be incurred regardless of if the division is dropped. They are therefore unavoidable.
3. Unavoidable.
As the machine has no other use or resale value if the division is dropped, the depreciation expense will still be incurred even if the division is dropped so this cost is unavoidable.
4. Avoidable.
Company will no longer have to pay rent if the division is dropped so this expense is an avoidable cost.
5. Unavoidable.
This cost will still be incurred by the company regardless of if the division is dropped because it is an administrative cost at company level. It is therefore unavoidable.
Hollywood Co. computed an overhead rate for machining costs ($1,500,000) of $15 per machine hour. Machining costs are driven by machine hours. The company produces two products, Chapel and Tower. Chapel requires 60,000 machine hours, while Tower requires 40,000 machine hours. Using activity-based costing, machining costs using machine hours to assign overhead to each product is
Answer:
Results are below.
Explanation:
To allocate overhead to Chapel and Tower, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Chapel:
Allocated MOH= 15*60,000
Allocated MOH= $900,000
Tower:
Allocated MOH= 15*40,000
Allocated MOH= $600,000
A year ago, you graduated from college and decided to open your own computer software company. Over the past year, your firm generated $500,000 in revenue. You hired two software engineers and paid each of them $150,000 over the past year. You also purchased computer equipment that cost a total of $30,000. To save money, you decided to use the basement of your house for the business. Previously, you had rented this space to a tenant for $6,000 per year. Instead of opening your own business, you could have gone to work for Microsoft and earned $200,000 over the past year.
Required:
a. What were your accounting profits of your firm over the past year?
b. What were the economic profits of your firm over the past?
Answer:
170,000
$-36,000
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business. They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
Accounting profit = $500,000 - [( $150,000 x 2) + $30,000] = $170,000
Economic profit = $170,000 - ($200,000 + $6000) = -36,000
Seventy-Two Inc., a developer of radiology equipment, has stock outstanding as follows: 60,000 shares of cumulative preferred 2% stock, $60 par and 300,000 shares of $20 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $51,000; second year, $105,000; third year, $81,000; fourth year, $120,000.
Required:
Determine the dividends per share on each class of stock for each of the four years.
Answer:
The Preferred shares are cumulative which means that they will have to be paid eventually even if they weren't completed in one period.
Preferred dividend:
= 60,000 * 60 * 2%
= $72,000 per year
First year:
Preferred dividend Common Dividend
= $51,000 = $0
They will collect it all and be owed:
= 72,000 - 51,000
= $21,000
Second year:
Preferred dividend Common Dividend
= 21,000 + 72,000 = 105,000 - 93,000
= $93,000 = $12,000
Preferred accrued has been
paid off.
Third year:
Preferred dividend Common Dividend
= $72,000 = 81,000 - 72,000
= $9,000
Fourth year:
Preferred dividend Common Dividend
= $72,000 = 120,000 - 72,000
= $48,000
Deviations from informational efficiency would result in a large cost that will be borne by all participants, namely inefficient resource allocation. Corporations with overpriced securities, for example, would be able to obtain capital too expensively while undervalued companies might forgo investment opportunities because the cost of raising capital would be too low.
a. True
b. False
Answer: False
Explanation:
Deviations from informational efficiency does in fact result in a large cost for all participants however the effects given in the question are false.
If there is a deviation from informational efficiency, overpriced companies would be viewed as performing well enough to get capital at a cheaper rate because they would be viewed as less of a risk.
Undervalued companies would get capital at a higher cost because they would be viewed as less likely to pay back the capital when in fact they are not valued at their proper value which would have shown that they would be able to pay off the capital acquired.
May 1, 2021, Bibby Company had beginning inventory consisting of 200 units with a unit cost of $7. During May, the company purchased inventory as follows: 800 units at $7 600 units at $8 The company sold 1,000 units during the month for $12 per unit. Bibby uses the average cost method. The average cost per unit for May is
Answer:
$7.38
Explanation:
The average cost method recalculates a new cost per unit with each and every purchase made. This new costs would then be used to calculate the costs of goods sold and inventory value.
Average cost per unit = Total Costs ÷ Units available for sale
= (200 x $7 + 800 x $7 + 600 x $8) ÷ 1,600
= $7.375 or $7.38
The average cost per unit for May is $7.38
n January 1, 2022, Smeder Company, an 80% owned subsidiary of Collins, Inc. transferred equipment with a 10-year life (six of which remain with no salvage value) to Collins in exchange for $104,000 cash. At the date of transfer, Smeder's records carried the equipment at a historical cost of $140,000 less accumulated depreciation of $58,000. Straight-line depreciation is used. Smeder reported net income of $28,000 for 2022 and 2023, respectively. Prepare the consolidation entries related to the equipment for year 2022 and year 2023
Answer:
2022
Dr. Equipment _________ $22,000
Cr.Reserve Account _____$19,800
Cr. Depreciation expenses $2,200
2022
Dr. Depreciation Expense ___ $14,000
Cr. Accumulated Depreciation $14,000
2023
Dr. Depreciation Expense ___ $14,000
Cr. Accumulated Depreciation $14,000
Explanation:
2022
Calculate the net book value
Net book value = Historical cost - Accumulated depreciatin = $140,000 - $58,000 = $82,000
Unrealised profit on the sale of the asset = Cash receipt - Nreet book value = $104,000 - $82,000 = $22,000
Annual Depricaiton = Historical cost / remaining life = $140,000 / 10 = $14,000
Excess depreciation charged = Unrealised profit / Remaining life = $22,000 / 10 = $2,200
HELP how do i speedrun like dream
Answer:
I-
Explanation:
I'm very sorry I have no idea
Indicate the missing amount for each letter.
Case
1 2
Direct materials used $9,780
Direct labor 5,950 8,300
Manufacturing overhead 8,870 4,880
Total manufacturing costs 16,210
Beginning work in process inventory1,510
Ending work in process inventory 3,650
Sales revenue 25,780
Sales discounts 2,810 2,070
Cost of goods manufactured 17,970 22,620
Beginning finished goods inventory 4,030
Goods available for sale 22,860
Cost of goods sold 19140
Ending finished goods inventory 3,720 3,110
Gross profit 8,100
Operating expenses 3,510
Net income 5,330
1. Prepare a condensed cost of goods manufactured schedule for case 1.
2. Prepare an income statement for case 1.
Answer:
See below
Explanation:
Case 1.
Total manufacturing costs
= Direct material + Direct labor + Manufacturing overhead
= $9,780 + $5,950 + $8,870 = $24,000
Ending work in process inventory
= Opening work in process + total manufacturing cost - cost of goods manufacturing
= $1,510 + $24,600 - $17,970 = $8,140
Beginning finished goods inventory
= Cost of goods sold - cost of goods manufactured + closing finished goods inventory
= $19,140 - $17,970 + $3,720 = $4,890
Cost of goods sold
= Opening finished good inventory + cost of goods manufactured - closing finished goods inventory
= $4,890 + $17,970 - $3,720 = $19,140
Gross profit
= Sales - cost of goods sold
= $25,780 - $2,810 - $19,140 = $3,830
Net income
= Gross profit - Operating expense
= $3,830 - $3,510 = $320
*Condensed cost of goods manufactured schedule
Opening work in process $1,510
Direct material
9,780
Direct labor
$5,950
Manufacturing overhead
$8,870
Total manufacturing cost $24,600
Cost of goods manufactured available
$26,110
Less:
Closing work in process
($8,140)
Cost of goods manufactured
$17,970
* Income statement
Sales
$25,780
Less:
Discount
($2,810)
Net sales $22,970
Less:
Cost of goods sold
Beginning finished goods inventory
$4,890
Add:
Cost of goods manufactured
$17,970
Cost of goods available for sale
$22,860
Less:
Closing finished goods inventory
($3,720)
Cost of goods sold $19,140
Gross profit
$3,830
Less:
Operating expenses
($3,510)
Net income
$320
Madson Company is analyzing several proposed investment projects The firm has resources only for one project Project P Project Q Project R Project S Project T Cost of investment $32,000 $38,200 $57,100 $47,400 $53,000 Net cash flow Year 1 $5,200 $3,200 $4,300 $26,000 $15,900 Year 2 $9,600 $15,300 $16,900 $8,400 $15,800 Year 3 $12,700 $14,700 $21,000 $6,400 $16,100 Year 4 $15,300 $19,300 $31,000 $4,300 $11,000 Year 5 $52,000 $2,100 $10,000 The company uses the payback period method for making capital investment decisions. On the basis of this decision model, which project should be selected? (Ignore taxes.) a. Project T b. Project Q c. Project P d. Project R e. None
Answer:
Madison Company
On the basis of the payback period decision model, the project that should be selected is:
c. Project P
Explanation:
a) Data and Analysis:
Project P Project Q Project R Project S Project T
Cost of investment $32,000 $38,200 $57,100 $47,400 $53,000
Net cash flow
Year 1 $5,200 $3,200 $4,300 $26,000 $15,900
Year 2 $9,600 $15,300 $16,900 $8,400 $15,800
Year 3 $12,700 $14,700 $21,000 $6,400 $16,100
Year 4 $15,300 $19,300 $31,000 $4,300 $11,000
Year 5 $52,000 $2,100 $10,000
Total net cash flow $94,800 $54,600 $83,200 $45,100 $58,800
Year 4 Year 4 Year 4 Unable Year 4
b) While four of the five projects pay back within Year 4, Project P has the added advantage of more total cash inflows. It is followed closely by Project R. The payback period as a capital appraisal method relies on counting the years or periods when the project's investment will be recovered. The payback period method does not evaluate projects based on the time value of money unless the modernized discounted payback period method is used.
The payback period method is a method that considers the number of months or years it takes to return the initial investment.
When more than one investment is being considered under payback period, the investment with the shortest payback period will be selected.
Since the net cash inflows of each year for each project is different, the following formula is used in the attached photo to calculate the payback period:
Payback period = A + (X / Y) ………………….. (1)
Where:
A = Year immediately preceding to year of recovery
X = Amount left to be recovered
Z = Cash inflow in the year of final recovery
Before equation (1) is used, cumulative net cash inflows is first calculated as done in the attached photo.
From the attached photo, we have:
Project P’s payback period = 3.29 years
Project Q’s payback period = 3.26 years
Project R’s payback period = 3.48 years
Project S’s payback period = after 5 years
Project T’s payback period = 3.47 years
Based on above the above, b. Project Q should be selected because it has the shortest payback period which is 3.26 years.
Learn more about payback period here: https://brainly.com/question/25534287
The Richmond Corporation uses the weighted-average method in its process costing system. The company has only a single processing department. The company's ending work in process inventory on August 31 consisted of 18,000 units. The units in the ending work in process inventory were 100% complete with respect to materials and 60% complete with respect to labor and overhead. If the cost per equivalent unit for August was $2.75 for materials and $4.25 for labor and overhead, the total cost assigned to the ending work in process inventory was:
Answer:
$95,400
Explanation:
Step 1 : Find the equivalent units of production in Ending Work in Progress
Materials = 18,000 x 100 % = 18,000 units
Conversion costs = 18,000 x 60 % = 10,800 units
Step 2 : Calculate the Cost of units in Ending Work in Progress
Cost of units in Ending Work in Progress = 18,000 x $2.75 + 10,800 x $4.25
= $95,400
Conclusion :
The ending work in process inventory was $95,400.
Elana's Traveling Veterinary Services, Inc., completed its first year of operations on December 31. All of the year's entries have been recorded except for the following:
On March 1 of the current year, the company borrowed $60,000 at a 10 percent interest rate to be repaid in five years.
On the last day of the current year, the company received a $360 utility bill for utilities used in December. The bill will be paid in January of next year.
1. Prepare the required adjusting entry for transactions
2. Record the interest accrued at year-end.
3. Record the utilities incurred at year-end.
Answer:
A. Dr Interest expense $5,000
Cr Interest payable $5,000
B. Dr Utilities expense $360
Cr Utilities payable$360
Explanation:
A. Preparation of the Journal entry to Record the interest accrued at year-end.
Dec 31
Dr Interest expense $5,000
Cr Interest payable $5,000
($60,000 principal × .10 rate × 10 months/12 months = $5,000)
(To record interest accrued at year-end)
B. Preparation of the Journal entry to Record the utilities incurred at year-end.
Dec 31
Dr Utilities expense $360
Cr Utilities payable$360
(To record utilities incurred at year-end)
On January 2, 2020, Howdy Doody Corporation purchased 18% of Ranger Corporation's common stock for $52,000. Based on its ownership, Howdy Doody Corp. cannot exert significant influence over the operations of Ranger Corp. Ranger's net income for the years ended December 31, 2020, and December 31, 2021, were $11,000 and $52,000, respectively. During 2020, Ranger declared and paid a dividend of $68,000. On December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $74,000. How much should Howdy Doody show in the 2020 income statement as income from this investment
Answer:
The Total amount is shown in the income statement $34,240
Explanation:
The computation of the amount that should be presented in the 2020 income statement is shown below:
Dividend collected by Howdy Doody corporation (18% of $68,000) $12,240
rise in Fair value of Stock credited to the income statement ($74,000 - $52,000) $22,000
The Total amount is shown in the income statement $34,240
Different compounding periods, are used for different types of investments. In order to properly compare investments or loans with different compounding periods, we need to put them on a common basis. In order to do this, you need to understand the difference between the nominal interest rate (INOM) and the effective annual rate (EAR). The ____________ interest rate is quoted by borrowers and lenders, and it is also called the annual percentage rate (APR). If the compounding periods for different securities is the same, then you -Select- use the APR for comparison. If the securities have different compounding periods, then the __________ must be used for comparison.Here, M is the number of compounding periods per year and INOM/M is equal to the periodic rate (IPER). If a loan or investment uses ____________ compounding, then the nominal interest rate is also its effective annual rate. However, if compounding occurs more than once a year, EAR is _____________ INOM.
Answer:
Nominal
EAR
annual
higher than
Explanation:
The Nominal interest rate is quoted by borrowers and lenders, and it is also called the annual percentage rate (APR).
If the securities have different compounding periods, then the EAR must be used for comparison.
If a loan or investment uses annual compounding, then the nominal interest rate is also its effective annual rate.
However, if compounding occurs more than once a year, EAR is higher than INOM.
which statement about demand is true
This information is available for Pronghorn Inc. for the current year.
Beginning inventory $10,620
Ending inventory 13,430
Cost of goods sold 84,175
Sales 146,100
Calculate the inventory turnover, days in inventory, and gross profit rate for Pronghorn Inc. for the current year. (Round gross profit rate to 2 decimal places, e.g. 12.51 and other answers to 1 decimal place, e.g. 15.2. Use 365 days for calculation.)
Inventory turnover enter inventory turnover in times times
Days in inventory enter days in inventory days
Gross profit rate enter days in inventory
Answer:
Pronghorn Inc.
Inventory Turnover = 7 times
Days in inventory = 52.14 days
Gross profit rate = 47.86%
Explanation:
a) Data and Calculations:
Beginning inventory $10,620
Ending inventory 13,430
Average inventory = $12,025 ($10,620 + $13,430)/2
Cost of goods sold 84,175
Sales 146,100
Gross profit = $69,925 ($146,100 - $84,175)
Inventory Turnover = Cost of Goods Sold/Average Inventory
= $84,175/$12,025
= 7 times
Days in inventory = 365/7 = 52.14 days
Gross profit rate = Gross profit/Sales * 100
= $69,925/$146,100 * 100
= 47.86%
On June 30, 2021, the High Five Surfboard Company had outstanding accounts receivable of $720,000. On July 1, 2021, the company borrowed $570,000 from the Equitable Finance Corporation and signed a promissory note. Interest at 10% is payable monthly. The company assigned specific receivables totaling $720,000 as collateral for the loan. Equitable Finance charges a finance fee equal to 1.2% of the accounts receivable assigned.
Required: Prepare the journal entry to record the borrowing on the books of High Five Surfboard. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
Dr Cash$561,360
Dr Finance charge expense $8,640
Cr Finance arrangement $570,000
Explanation:
Preparation of the journal entry to record the borrowing on the books of High Five Surfboard.
Dr Cash$561,360
[$570,000-($720,000*1.2%)]
$570,000-$8,640
=$561,360
Dr Finance charge expense $8,640
($720,000*1.2%)
Cr Finance arrangement $570,000
(Being to record the borrowing on the books of High Five Surfboard )
what is the difference between capital and drawings ?
Presented below is information related to Shamrock Corp., which sells merchandise with terms 2/10, net 60. Shamrock Corp. records its sales and receivables net. July 1 Shamrock Corp. sold to Warren Harding Co. merchandise having a sales price of $15,000. 5 Accounts receivable of $14,300 (gross) are factored with Andrew Jackson Credit Corp. without recourse at a financing charge of 9%. Cash is received for the proceeds; collections are handled by the finance company. (These accounts were all past the discount period.) 9 Specific accounts receivable of $14,300 (gross) are pledged to Alf Landon Credit Corp. as security for a loan of $6,500 at a finance charge of 6% of the amount of the loan. The finance company will make the collections. (All the accounts receivable are past the discount period.) Dec. 29 Warren Harding Co. notifies Shamrock that it is bankrupt and will pay only 10% of its account. Give the entry to write off the uncollectible balance using the allowance method. (Note: First record the increase in the receivable on July 11 when the discount period passed.)
Answer:
Shamrock Corp.
Entry to write off the uncollectible balance of Warren Harding Co.:
Debit Allowance for Uncollectible accounts $13,500
Credit Accounts Receivable $13,500
To write off the uncollectible account.
Explanation:
a) Data and Calculations:
Credit terms = 2/10, net 60. This means that 2% discount is allowed to each customer for making payment within 10 days and the longest credit is 60 days.
Sales to Warren Harding Co = $15,000
Amount debited to Accounts Receivable = 14,700 ($15,000 * 98%)
Amount paid by Warren (10%) = $1,500
Amount to be written off as uncollectible = $13,500
Discount of $300 will be reversed with a debit to the Accounts Receivable and a credit to Discount Allowed (since the Shamrock Corp. records its sales and receivables net.)
Cash of $1,500 will be debited and Accounts Receivable credited to record the 10% of $15,000 cash receipt from Warren Harding Co. The remaining amount, which is $13,500 will be written off with a debit to Allowance for Uncollectible accounts and a credit to Accounts Receivable.
Bramble Corp. had 165 units in beginning inventory at a total cost of $19,800. The company purchased 330 units at a total cost of $44,550. At the end of the year, Bramble had 90 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to 0 decimal places, e.g. 1,250.) FIFO LIFO Average-cost The cost of the ending inventory $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places The cost of goods sold $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places $enter a dollar amount rounded to 0 decimal places eTextbook and Media Which cost flow method would result in the highest net income
Answer:
A. FIFO
Cost of the ending inventory $12,150
Cost of goods sold $52,200
B. LIFO
Cost of the ending inventory $10,800
Cost of goods sold $53,550
C. AVERAGE COST
Cost of the ending inventory $11,700
Cost of goods sold $52,650
Explanation:
A. Computation for the cost of the ending inventory and the cost of goods sold under FIFO
Cost of the ending inventory = 90 units*($44,550/330 units)
Cost of the ending inventory=90 units**135
Cost of the ending inventory=$12,150
Cost of goods sold =($44,550+$19,800)-$12,150
Cost of goods sold =$64,350-$12,150
Cost of goods sold =$52,200
2.Computation for the cost of the ending inventory and the cost of goods sold under LIFO
Cost of the ending inventory = 90 units*($19,800/165)
Cost of the ending inventory =90 units*$120
Cost of the ending inventory = $10,800
Cost of goods sold =($44,550+$19,800)-$10,800
Cost of goods sold =$64,350-$10,800
Cost of goods sold =$53,550
3.Computation for the cost of the ending inventory and the cost of goods sold under Average-cost
Cost of the ending inventory = 90 units*($44,550+$19,800)/(330 units+165 units)
Cost of the ending inventory = 90 units*($64,350/495 units)
Cost of the ending inventory = 90 units*$130
Cost of the ending inventory = $11,700
Cost of goods sold =($44,550+$19,800)-$11,700
Cost of goods sold =$64,350-$11,700
Cost of goods sold =$52,650
Sally is looking to invest in Agricon Products when its P/E ratio is lower than 15. Each share is currently projected to earn $1.30 this year. Which
of the stock prices listed below would give the P/E ratio she is looking for?
1. $18 a share
II. $19 a share
III. $20 a share
Select the best answer from the choices provided.
А.
I only
В.
III only
Ос.
I and II only
OD. III, and III
Answer:
C
Explanation:
P/E ratio is a method of valuing a company. It is derived by dividing price of the stock by earnings
1. $18/1.3 = 13.8
2. 19/1.3 = 14.6
3. 20 / 1.3 = 15.4
The first and second stock have a P/E ratio is lower than 15.
At Bargain Electronics, it costs $30 per unit ($20 variable and $10 fixed) to make an MP3 player at full capacity that normally sells for $55. A foreign wholesaler offers to buy 4,960 units at $24 each. Bargain Electronics will incur special shipping costs of S4 per unit. Assuming that Bargain Electronics has excess operating capacity, indicate the net income (loss) Bargain Electronics would realize by accepting the special order. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Reject Accept Net Income
Order order Increase
(Decrease)
Revenues $ $ $
Cost-Manufacturing
Shipping
Net Income $ $ $
The special order should be:______.
Answer:
Effect on income= $0
Explanation:
Because the company has excess capacity and it is a special offer that would not affect normal sales, we will not include the fixed costs.
Effect on income= total sales revenue - total variable cost
Effect on income= 24*4,960 - (20 + 4)*4,960
Effect on income= $0