Answer:
cognitive dissonance
Explanation:
Cognitive dissonance defines the situation where it includes the attitudes i.e. conflicted, behaviors, etc. It generated the mental discomfort feeling that would result in change in the attitude, belief, etc in order to decreased the discomfort also at the same time it would restore the balance
Therefore as per the given situation, it is cognitive dissonance
An outside supplier has offered to make the part and sell it to the company for $29.80 each. If this offer is accepted, the supervisor's salary and all of the variable costs, including the direct labor, can be avoided. The special equipment used to make the part was purchased many years ago and has no salvage value or other use. The allocated general overhead represents fixed costs of the entire company, none of which would be avoided if the part were purchased instead of produced internally. In addition, the space used to make part U16 could be used to make more of one of the company's other products, generating an additional segment margin of $25,000 per year for that product. The annual financial advantage (disadvantage) for the company as a result of buying part U16 from the outside supplier should be:
Answer:
-$79000
Explanation:
The computation of the annual financial advantage (disadvantage) is shown below;
Particulars Per unit Total 13000 units
Make Buy Make Buy
Direct materials 2.90 37700
Direct labor 7.50 97500
Variable manufacturing
overhead 8.00 104000
Supervisor's salary 3.40 44200
Contribution margin 25000
Purchase cost 29.80 387400
Total 308400 387400
Now the finacial disadvantage is
= 308400 - 387400
= -$79000
Roberto Corporation was organized on January 1, 2021. The firm was authorized to issue 84,000 shares of $5 par common stock. During 2021, Roberto had the following transactions relating to shareholders' equity: Issued 10,800 shares of common stock at $6.00 per share. Issued 20,400 shares of common stock at $8.20 per share. Reported a net income of $108,000. Paid dividends of $59,000. Purchased 3,100 shares of treasury stock at $10.20 (part of the 20,400 shares issued at $8.20). What is total shareholders' equity at the end of 2021
Answer:
$249,460
Explanation:
Calculation to determine the total shareholders' equity at the end of 2021
Issued of stock $64,800
(10,800 shares * $6.00 per share)
Issued of stock $167,280
(20,400 shares * $8.20 per share)
Net income $108,000
Less dividends ($59,000)
Less Treasury stock $31,620
( 3,100 shares* $10.20)
Total shareholders' equity $249,460
Therefore total shareholders' equity at the end of 2021 is $249,460
Assume that at the end of 2020, Clampett, Incorporated (an S corporation) distributes property (fair market value of $40,000, basis of $5,000) to each of its four equal shareholders (aggregate distribution of $160,000). At the time of the distribution, Clampett, Incorporated, has no corporate earnings and profits and J.D. has a basis of $50,000 in his Clampett, Incorporated, stock. What is J.D.'s stock basis after the distribution
Answer:
$45,000
Explanation:
Calculation to determine J.D.'s stock basis after the distribution
Using this formula
J.D.'s stock basis=Original basis+distributive share of the gain on the distribution -Distribution
Let plug in the formula
J.D.'s stock basis=$50,000+($40,000-$5,000)-$40,000
J.D.'s stock basis= $50,000 + $35,000 − $40,000
J.D.'s stock basis= $45,000
Therefore J.D.'s stock basis after the distribution
is $45,000
Identify the type of adjustment that would most likely be needed. Business B purchased a piece of equipment to be used in operations for $5,000 during the middle of October. Today is December 31st, the end of the 4th quarter and financial reports are being produced. g
Answer: c . Depreciation
Explanation:
When accounting for fixed assets, it is important that they are recorded at their book value to reflect the effects of being utilized. This means that depreciation needs to be charged on fixed assets.
Even though the equipment in question was only purchased 2.5 months prior to the financial reports being made, depreciation still needs to be accounted for such that the equipment is represented at its book value in the financial statement.
65 employees have earned two weeks of vacation time to be taken the following year. If the average weekly salary for these employees is $900, what is the required journal entry to accrue compensated absences
Answer: Debit Salaries and Wages Expense $117000
Credit Salaries and Wages Payable $117000
Explanation:
Based on the information given in the question, the required journal entry to accrue compensated absences will be as follows:
First, we need to know the amount of the compensated absence which will be:
= 65 employees × $900 × 2 Weeks vacation
= $117000
Therefore, the journal entry is:
Debit Salaries and Wages Expense $117000
Credit Salaries and Wages Payable $117000
Consumers know that some fraction x of all new cars produced and sold in the market are defective. The defective ones cannot be identified except by those who own them. Cars do not depreciate with use. Consumers are risk-neutral and value nondefective cars at $10,000 each. New cars sell for $8,000 and used ones for $2,000. (Note that since buyers are risk-neutral, the price of a new car reflects the expected value of purchasing a car that may or may not be defective.)What is the fraction x?Instructions: Enter x as a number rounded to two decimal places. For example, if x = 1/3 enter 0.33.
Answer:
0.25
Explanation:
Given :
The [tex]$\text{consumers value}$[/tex] the non defective cars = [tex]$\$ 10,000$[/tex]
We will consider all the defective [tex]$\text{ cars are used cars}$[/tex] only. This is only because the value of the used car is $ 2000 and it is lower than the price of a good car that is $10,000. Thus only defective cars are being sold as the old cars.
For a risk neutral customer, the price that he is ready to give for the new car is the reservation price of a non defective car. It means that (the amount of $ 8000 is the value of the good car x chances of getting a good car) +( the value of the bad car x chances of getting a bad car).
Since we know that x is the fraction of all the cars sold in the market are defective, it means that the fraction of the good cars is 1 - x. Thus putting the values,
[tex]$x\times 2000+(1-x)\times 10000=8000$[/tex]
[tex]$10000-8000x=80000$[/tex]
[tex]$8000x=2000$[/tex]
[tex]$x=\frac{2}{8}$[/tex]
= 0.25
Thus the value of :
[tex]$x=\frac{2}{8} = 0.25$[/tex]
Terp Corp.'s transactions for the year ended December 31, 2021 included the following: Purchased real estate for $1,250,000 cash which was borrowed from a bank. Sold investment securities for $1,000,000. Paid dividends of $1,200,000. Issued 500 shares of common stock for $500,000. Purchased machinery and equipment for $250,000 cash. Paid $900,000 toward a bank loan. Reduced accounts receivable by $200,000. Increased accounts payable $400,000. The net cash used in financing activities for 2021 was
Answer:
$1,600,000
Explanation:
Cashflow from financing activities
Dividends ($1,200,000)
Issue of Stocks $500,000
Bank Loan Repayment ($900,000)
Net Cash flow ($1,600,000)
thus
The net cash used in financing activities for 2021 was $1,600,000
On January 12, 2021, Jefferson Corporation purchased bonds of Rose Corporation for $77 million at par and classified the securities as available-for-sale. On December 31, 2021, these bonds were valued at $72 million. Nine months later, on October 3, 2022, Jefferson Corporation sold these bonds for $93 million.
As part of the multistep approach to record the 2022 transaction Jefferson Corporation should next take the second step of:________
a. Reversing total accumulated unrealized holding gains of $25 milion.
b. Reversing total accumulated unrealized holding gains of $18 milion
c. Reversing total accumulated unrealized holding gains of S7 million
d. Reversing total accumulated unrealized holding gains of $11 milion
Answer:
a
Explanation:
SegR-7268 Corporation has two divisions, East and West. The following information was taken from last year's income statement segmented by division: East Division West Division Sales $3,700,000 $2,300,000 Contribution margin $1,650,000 $1,000,000 Divisional segment margin $1,100,000 $350,000 Net operating income last year for SegR-7268 Corporation was $600,000. In last year's income statement segmented by division, what were SegR-7268's total common fixed expenses?
a. $2,050,000
b. $850,000
c. $2,300,000
d. $1,200,000
Answer:
b. $850,000
Explanation:
Divisional Segment Margin = $1,100,000 + $350,000
Divisional Segment Margin = $1,450,000
Net Operating Income = $600,000
Common fixed expenses = Divisional Segment Margin - Net Operating Income
Common fixed expenses = $1,450,000 - $600,000
Common fixed expenses = $850,000
So, SegR-7268's total common fixed expenses will be $850,000.
If markets are in equilibrium, which of the following conditions will exist? a. Each stock's expected return should equal its realized return as seen by the marginal investor. b. Each stock's expected return should equal its required return as seen by the marginal investor. c. All stocks should have the same expected return as seen by the marginal investor. d. The expected and required returns on stocks and bonds should be equal. e. All stocks should have the same realized return during the coming year.
Answer:
a
Explanation:
Equilibrium is a market exists when quantity demanded equals the quantity supplied. At equilibrium, demand equals supply. Above equilibrium there is a surplus and below equilibrium there is scarcity.
When there is equilibrium in the stock market, each stock's expected return should equal its realized return as seen by the marginal investor
If there is a surplus in the stock market, realized return would be greater than expected return
If there is a scarcity in the stock market, expected return would be greater than realized return
Daniel was surprised his store ran out of marshmallows so quickly. This typically does not happen during the spring, so he runs a(n) ________ to gather unplanned information to support if he should stock up on marshmallows.
Answer:
Ad-hoc report
Explanation:
From the question we are informed about how Daniel was surprised his store ran out of marshmallows so quickly. This typically does not happen during the spring, so in this case, he runs an Ad-hoc report to gather unplanned information to support if he should stock up on marshmallows.
Ad hoc report can be regarded as
a report that is created just for a one-time-use I e for a specific purpose.
With the use of BI tool there is possibility of anyone in an organization answering a specific business question and give presentation of that data in a visual format, even without given IT staff problems, Ad hoc report is different from structured report.
Alberton Electronics makes inexpensive GPS navigation devices and uses a normal cost system that applies overhead based on machine hours. The following current year budgeted data are available:
Variable factory overhead at 100,000 machine hours $2,750,000
Variable factory overhead at 150,000 machine hours 4,125,000
Fixed factory overhead at all levels between 10,000 and 180,000 machine hours 3,168,000
Practical capacity is 180,000 machine hours; expected capacity is two-thirds of practical.
Required:
a. What is Alberton Electronics’ predetermined VOH rate?
b. What is the predetermined FOH rate using practical capacity?
c. What is the predetermined FOH rate using expected capacity?
d. During 2013, the firm records 110,000 machine hours and $2,710,000 of overhead costs. How much variable overhead is applied? How much fixed overhead is applied using the rate found in (b)? How much fixed overhead is applied using the rate found in (c)? Calculate the total under- or overapplied overhead for 2013 using both fixed OH rates.
Answer:
Alberton Electronics
a. Alberton Electronics' predetermined VOH rate = $27.50 ($1,375,000/50,000)
b. The predetermined FOH rate using practical capacity = $17.60 ($3,168,000/180,000)
c. The predetermined FOH rate using expected capacity = $26.40 ($3,168,000/120,000)
d. Variable overhead applied = $3,025,000 (110,000 * $27.50)
Fixed overhead applied using $17.60 FOH rate = $1,936,000 (110,000 * $17.60)
Fixed overhead applied using $26.40 FOB rate = $2,904,000 (110,000 * $26.40)
The Total under-or applied overhead for 2013:
a) Overapplied overhead = $2,251,000 ($4,961,000 - $2,710,000)
b) Overapplied overhead = $3,219,000
Explanation:
a) Data and Calculations:
Variable factory overhead at 100,000 machine hours $2,750,000
Variable factory overhead at 150,000 machine hours 4,125,000
Difference = 50,000 machine hours and $1,375,000
Variable overhead rate = $1,375,000/50,000 = $27.50
Fixed factory overhead between 10,000 and 180,000 machine hours = $3,168,000
Practical capacity = 180,000
Expected capacity = 120,000 (180,000 * 2/3)
a. Alberton Electronics' predetermined VOH rate = $27.50 ($1,375,000/50,000)
b. The predetermined FOH rate using practical capacity = $17.60 ($3,168,000/180,000)
c. The predetermined FOH rate using expected capacity = $26.40 ($3,168,000/120,000)
d. Variable overhead applied = $3,025,000 (110,000 * $27.50)
Fixed overhead applied using $17.60 FOH rate = $1,936,000 (110,000 * $17.60)
Fixed overhead applied using $26.40 FOB rate = $2,904,000 (110,000 * $26.40)
The Total under-or applied overhead for 2013:
a) Total overhead applied = $4,961,000 ($3,025,000 + $1,936,000)
Overapplied overhead = $2,251,000 ($4,961,000 - $2,710,000)
b) Total overhead applied = $5,929,000 ($3,025,000 + $2,904,000)
Overapplied overhead = $3,219,000 ($5,929,000 - $2,710,000)
Taylor Company neglected to amortize the discount on outstanding ten-year bonds payable. What is the effect of the failure to record discount amortization on interest expense and bond carrying value, respectively
Answer:
Taylor Company
The negligence to amortize the discount on outstanding ten-year bonds payable is the understatement of interest expense for each year. This means that the interest expense will be the same for each year instead of increasing by the amortized discount amount. The same applies to the bond carrying value, which will remain the same throughout the period.
Explanation:
The discount on bonds payable is an additional interest expense, which is written off yearly over the bonds' maturity period through amortization. It increases the amount of the periodic interest payment by the amortized discount.
one word for they have a higher than normal price to create an image of exclusivity
Answer:
Everything which is exclusive is always expensive the higher price but quality work to create an image can give you a better result you should not compromise with the quality of the image to fit it in your budget a good image can give you a better reputation in the market the experience ones should be chosen in this manner always
Explanation:
Marsh Company had 150 units of product A on hand at January 1, year 2, costing $21 each. Purchases of product A during the month of January were as follows: Units Unit cost Jan. 10 200 $22 18 250 23 28 100 24 A physical count on January 31, year 2, shows 250 units of product A on hand. The cost of the inventory at January 31, year 2, under the LIFO method is
Answer:
$5,850
Explanation:
Calculation to determine what The cost of the inventory at January 31, year 2, under the LIFO method is
Using this formula
Cost of inventory= January 28 units * Cost per unit + Remaining units *Cost per unit
Let plug in the formula
Cost of inventory= 100 units * $24 + 150 units *$23
Cost of inventory= $2,400 + $3,450
Cost of inventory= $5,850
Therefore The cost of the inventory at January 31, year 2, under the LIFO method is $5,850
Larkspur, Inc. reports net income of $89,770 in 2017. However, ending inventory was understated by $7,100. Collapse question part (a) What is the correct net income for 2017
Answer:
$96,870
Explanation:
The understatement of ending inventory causes the cost of goods sold to be overstated and the gross and net income to be understated by the same amount.
If the 2017 ending inventory was understated by $7,100 then the correct net income figure for 2017 will be $7,1000 more that what was reported.
Therefore, 2017 corrected net income
= $89,770 + $7,100
= $96,870
onsider the following scenario. Inflation in Argentina pushes the price of Argentine wine up 25%. Inflation in the United States pushes the price of California wine up 10%. If the exchange rate remains constant, the U.S. demand for wine from Argentina a. decreases. b. increases. c. remains constant. d. California wine is better than Argentine wine, so there never is a U.S. demand for wine from Argentina.
Answer:
If the exchange rate remains constant, the U.S. demand for wine from Argentina
a. decreases.Explanation:
Since the inflation rate in Argentina is much higher than the inflation rate in the United States, the price of Argentinean wine will increase in its domestic currency, the Argentinean peso. If the exchange rate is fixed, then Argentinean wine will become more expensive. As a good becomes more expensive, its demand tends to decrease.
the month-end bank stataement of der torossian incorporated shows a balance of 36,500, deposits in transit are 6500 outstanding checks are 12000. there also shows a credit memo of 1,000 for the interest income collected on a note recievable. the adjusted balance per bank at month end is
Answer:
$31,000
Explanation:
Calculating the adjusted balance per bank at month end.
Details Amount
Unadjusted Balance $36,500
Add: Deposits in Transit $6,500
Less: Outstanding Checks $12,000
Adjusted Balance $31,000
Hillary considers herself a shrewd commodities investor. She bought a May cotton contract (50,000 pounds) at a pound, and later sold it at a pound. What were her profit and her return on invested capital if her initial margin was and the size of a cotton futures contract is 50,000 pounds of cotton?
Answer: See explanation
Explanation:
Based on the information given in the question, the profit will be calculated as:
Profit = (Selling price - Buying Price) × Size
= ($0.6485 - $0.6264)*50,000
= $0.0221 × 5000
= $1,105
Then, the return on the invested capital will be:
= Profit/Initial Margin
= 1105/1060
= 1.0425
= 104.25%
84,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,300. Using the straight-line method, the book value at December 31, 2021, would be:
Answer:
$67,860
Explanation:
Depreciation = Cost - Residual amount ÷ Useful life
= ($84,000 - $3,300) ÷ 5
= $16,140
Book Value = Cost - Accumulated depreciation
therefore,
Book Value = $84,000 - $16,140
= $67,860
thus
The book value at December 31, 2021, would be: $67,860
On November 10 of the current year, Flores Mills sold carpet to a customer for $7,700 with credit terms 2/10, n/30. Flores uses the gross method of accounting for sales discounts. What is the correct entry for Flores on November 17, assuming the correct payment was received on that date
Answer:
Flores Mills:
The correct entry for Flores on November 17 using the gross method of accounting for sales discounts is as follows:
Journal Entry
November 17:
Debit Cash $7,546
Debit Cash Discounts $154
Credit Accounts Receivable $7,700
To record the receipt of cash from a customer on account, including 2% discounts allowed for payment within 10 days.
Explanation:
a) Data and Analysis:
November 10: Accounts Receivable $7,700 Sales Revenue $7,700
with credit terms 2/10, n/30.
November 17: Cash $7,546 Cash Discounts $154 Accounts Receivable $7,700
What is an advantage of using Excel’s built-in templates to create invoices?
a The setting and data heading are already made and the data just needs to be inserted.
b A built-in template cannot be modified in any way, so the file’s look will be consistent.
c Only one invoice template is available, so it will be easy to learn how to use a template.
d Templates take a lot of time to set up initially, but then they save time for future applications.
Answer:
A. The setting and data heading are already made and the data just needs to be inserted.
Explanation:
here's your answer..
Hammerhead Inc. uses practical capacity as the denominator to set the cost of supplying capacity and for the current period the budgeted cost per unit of supplying capacity was $42. Practical capacity was set at 10,000 units with theoretical capacity at 14,000 units. During the period, only 4,000 units were produced while the master budget assumed that the company would produce 9,000 units. What is the value of the manufacturing resources NOT used during the period
Answer:
the value of the manufacturing resources not used is $252,000
Explanation:
The computation of the value of the manufacturing resources not used is shown below
= (practical capacity - number of units produced) × budgeted cost per unit of supplying capacity
= (10,000 units - 4,000 units) × $42
= 6,000 units × $42
= $252,000
Hence, the value of the manufacturing resources not used is $252,000
what is the difference between quantity demand and quantity supply.
Answer:
The distinction between supply and quantity supplied is similar to the difference between demand and quantity demanded. If the market price of a product increases, then the quantity supplied increases, and vice versa.
Explanation:
.....
Palmer Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in net income after tax of $179,850. The equipment will have an initial cost of $545,000 and have a 7 year life. If the salvage value of the equipment is estimated to be $34,000, what is the accounting rate of return
Answer:
So, accounting rate of return = 33 %
Explanation:
given data
net income after tax = $179,850
initial cost = $545,000
time = 7 year
salvage value = $34,000
we will get here the accounting rate of return
solution
as we know that accounting rate of return is express as
accounting rate of return = Net income ÷ initial investment .................1
put here value and we get
accounting rate of return = [tex]\frac{179850}{545000}[/tex]
So, accounting rate of return = 33 %
Fill in the missing amounts.
Crane Company Sheridan Company
Sales revenue $94,200 $enter a dollar amount Sales returns and allowances enter a dollar amount $ 3,000 Net sales 80,200 100,000 Cost of goods sold 54,200 enter a dollar amount Gross profit $enter a subtotal of the two previous amounts 50,000 Operating expenses 14,700 enter a dollar amount Net income $enter a total net income 15,600
Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%. )
Crane Company Sheridan Company
Profit margin
Gross profit rate
SHOW LIST OF ACCOUNTS
LINK TO TEXT LINK TO TEXT
Answer:
Find my analysis below
Explanation:
The gross profit rate is the portion of net sales earned as gross profit prior to considering operating expenses as indicated by the formula below:
gross profit rate=gross profit/net sales
The profit margin measures the net income as a percentage of net sales
profit margin=net income/net sales
Crane company Sheridan company
Sales revenue $94,200 $103,000
sales returns and allowance $14,000 $3,000
Net sales $80,200 $100,000
cost of goods sold $54,200 $50,000
Gross profit $26,000 $50,000
Operating expenses $14,700 $34,400
Net income $11,300 $15,600
Gross profit rate=gross profit /net sales 32.4% 50.0%
Profit margin=net income/net sales 14.1% 15.6%
Crane company Sheridan company
Sales revenue 94200 =F5+F4
sales returns and allowance =E3-E5 3000
Net sales 80200 100000
cost of goods sold 54200 =F5-F7
Gross profit =E5-E6 50000
Operating expenses 14700 =F7-F9
Net income =E7-E8 15600
Gross profit rate=gross profit /net sales =E7/E5 =F7/F5
Profit margin=net income/net sales =E9/E5 =F9/F5
List four natural resources that you think would go into the production of the following products
Answer:
sorry I think u got yr question incomplete..
Explanation:
Oil, coal, natural gas, metals, stone and sand are natural resources. Other natural resources are air, sunlight, soil and water. Animals, birds, fish and plants are natural resources as well.
stay safe healthy and happy.The internal rate of return for a project will increase if: the initial cost of the project can be reduced. the total amount of the cash inflows is reduced. each cash inflow is moved such that it occurs one year later than originally projected. the required rate of return is reduced. the discount rate is increased.
Answer:
the initial cost of the project can be reduced
Explanation:
As we know that the internal rate of return is the return where the net present value comes to zero or we can say that the initial investment would be equivalent to the present value of annual cash inflows
In the case when the internal rate of return is rise up so the initial investment or initial cost would be decreased
Therefore the first option is correct
A similarity between monopoly and monopolistic competition is that in both market structures a. there are only a few buyers but many sellers. b. there are a small number of sellers. c. sellers are price makers rather than price takers. d. strategic interactions among sellers are important.
Answer:
c
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A price maker is a seller that sets the price for its goods and services. A monopoly and a monopolistic competition are price makers
which of the following jobs function check accounting in the ledger and financial statements?
Answer:
Audit is the one who check .....