Consider the following budgeted data for the client case of Carla's accounting firm. The client wants a fixed-price quotation.

Direct professional labour $20,700
Direct support labour 10,200
Fringe benefits for direct labour 13,500
Photocopying 1,800
Telephone calls 2,000
Computer lines 5,700

Overhead is allocated at the rate of 100% of direct labour cost.

Required:
Prepare a schedule of the budgeted total costs for the client.

Answers

Answer 1

Answer:

See below

Explanation:

Budgeted total cost is computed as;

Direct support labor $10,200

Direct professional labor $20,700

Fringe benefit for direct labor $13,500

Overhead allocation $30,900

Budgeted total cost $75,300

Therefore, budgeted total cost for the client is $75,300


Related Questions

Bruno's is analyzing two machines to determine which one it should purchase. The company requires a rate of return of 14.6 percent and uses straight-line depreciation to a zero book value over a machine's life. Ignore bonus depreciation and taxes. Machine A has a cost of $318,000, annual operating costs of $8,700, and a life of 3 years. Machine B costs $247,000, has annual operating costs of $9,300, and a life of 2 years. Whichever machine is purchased will be replaced at the end of its useful life. Which machine should Bruno's purchase and why

Answers

Answer:

Machine A; because it will save the company about $13,406 a year

Explanation:

The computation is shown below:

Equate Annual Cost = PV of Cash Outflow ÷  PVAF (r%, n)

For Machine A:

Year            CF          PVF  at 14.6%           Disc CF

0            $3,18,000.00    1.0000                 $3,18,000.00

1              $ 8,700.00   0.8726                 $7,591.62

2             $8,700.00   0.7614               $6,624.45

3 $      8,700.00           0.6644 $      5,780.50

PV of Cash Outflow                               $3,37,996.58

PVAF(14.6%,3)                                          2.2985

PV of Cash Outflow                            $1,47,053.69

For Machine B:

Year             CF                PVF at 14.6%                  Disc CF

0              $2,47,000.00       1.0000                    $2,47,000.00

1                $9,300.00       0.8726                        $8,115.18

2               $9,300.00       0.7614                        $7,081.31

PV of Cash Outflow                                          $2,62,196.49

PVAF(14.6%,2)              1.6340

PV of Cash Outflow     $1,60,459.86

So the machine cost would be purchased as it lower the cost by $13,406.17

The 2020 accounting records of Skysong, Inc. reveal these transactions and events.

Payment of interest $10,800 Collection of accounts receivable $189,200
Cash sales 50,900 Payment of salaries and wages 56,900
Receipt of dividend revenue 19,000 Depreciation expense 16,100
Payment of income taxes 15,700 Proceeds from sale of vehicles 12,100
Net income 38,000 Purchase of equipment for cash 21,900
Payment of accounts payable Loss on sale of vehicles 3,100
For merchandise 115,600 Payment of dividends 14,700
Payment for land 73,700 Payment of operating expenses 27,600

Required:
Prepare the cash flows from operating activities section using the direct method.

Answers

Answer:

jggggyhhhyhhhhhhhhggggğytfgvb

Insurance company A and B both are life insurance companies that pay claims to a designated beneficiary upon death of an insured life. Company A insures 10,000 lives and expects to receive 525 claims this year. Company B insures 8,700 lives and expects to receive 410 claims this year. The actual number of claims for company A will range 500 < 550. The actual number of claims for company B will range from 369 < 451. Who faces the most objective risk

Answers

Answer:

Company B will faces the most objective risk

Explanation:

Company A: As Company A, insures 10,000 lives and expects to receive 525 claims this year.

They will end up saving 947,500,000 and paying 52,500,000 (525 claims*100,000), considering each claim value to be 100,000. Here goes the calculation:

10,000 x 100,000 = 1,000,000,000

1,000,000,000 - 52,500,000 = 947,500,000.

Company B: As Company B, insures 8,700 lives and expects 410 claims this year.

They will end up saving 829,000,000 and paying 41,000,000 (410 claims x 100,000), considering each claim value to be 100,000. Here goes the calculation:

8700 x 100,000 = 870,000,000

870,000,000 - 41,000,000 = 829,000,000.

Hence, the margin of profit is good for company A. Company B will have the face the risk more.

You are the director of marketing. Your department has been doing well, but the company as a whole has been losing revenue steadily each quarter. In an effort to stay in business, the company is reducing the salaries of all employees by 15 percent. You need to inform your employees. Your employees are expecting that there will be a pay reduction and unanimously voted to reduce salaries rather than fire employees to balance the budget.
Which outline would be most appropriate in this situation?
I. Thank employees for being willing to make a sacrifice for the good of the company
II. Inform the employees they will receive a 15% pay cut
III. Restate the facts of the company's financial situation
IV. Explain
A. The reasons why the company needs to take drastic action
B. The benefits of the company's strategy
V. Close with a forward-looking statement.
I. State the facts of the company's financial situation
II. Explain
A. The reasons the company needs to take drastic action
B. The benefits of the company's strategy
III. Inform the employees they will receive a 15% pay cut
IV. Close with a forward-looking statement
I. State the facts of the company's financial situation
II. Provide alternatives the company considered
A. Unemployment
B. Bankruptcy
III. Inform the employees they will receive a 15% pay cut

Answers

Answer:

I. Thank employees for being willing to make a sacrifice for the good of the company.

II. State the facts of the company's financial situation.

III. Inform employees that they will receive a 15% pay cut.

IV. Close with forward looking statement.

Explanation:

The company's financial situation has led the managers to decide for a pay cut instead of lay off to improve the financial position of the company and stay in the budget. The company should appraise employees that they understand the company's situation and are willing to accept the pay cut. The director should inform employees about the current financial situation and provide details about the pay cut plan. The email should close with a forward looking statement and a statement that as soon as the situation of company gets better the employees will receive full salaries as always.

Explain two potential advantages to an airline of outsourcing inflight catering

Answers

Answer: See explanation

Explanation:

In-flight catering simply has to do with the delivery of food that have been already prepared and packaged for consumption while a particular airplane is in flight.

The two potential advantages to an airline of outsourcing inflight catering is that it helps in the reduction and of cost in the part of the airline. Outsourcing will help the airline cut costs.

Also, another reason is that the airline can focus on other aspects which are more important and work towards achieving organizational goals.

19) Which of the following best describes horizontal analysis? A) calculating key ratios to evaluate performance B) comparing a company's financial statements with other companies C) comparing financial statement amounts from year to year for the same company D) expressing each financial statement amount as a percentage of a budgeted amount

Answers

Answer:

C) comparing financial statement amounts from year to year for the same company

Explanation:

Horizontal analysis refers to an analysis of the items in the financial statements that should be compared for a period of time. It basically used to see the situation of the trends how it goes whether it is increase or decrease. For using this, the two or more periods financial statements are required

Therefore according to the given options, the option c is correct

During the summer between his junior and senior years, James Cook needed to earn sufficient money for the coming academic year. Unable to obtain a job with a reasonable salary, he decided to try the lawn care business for three months. After a survey of the market potential, James bought a used pickup truck on June 1 for $1,160. On each door he painted "James Cook Lawn Service, Phone 471-4487." He also spent $680 for mowers, trimmers, and tools. To acquire these items, he borrowed $2,520 cash by signing a note payable promising to pay the $2,520 plus interest of $65 at the end of the three months (ending August 31)

Answers

Answer:

Half of the question is missing, so I looked for similar ones and found the attached image.

Explanation:

We must determine James' profit for the summer:

Cash collected $12,800

Receivables $730

total revenue = $13,530

Expenses:

Gas, oil and lubrication $1,080 + $190 = $1,270

Repairs $550

Supplies $230

Salaries $6,000

Payroll taxes $290

Filing taxes services $35

Insurance $245

telephone $270

interest expense $65 (I'll use the information provided in the question)

Depreciation $620

total expenses = $9,575

net income = $13,530 - $9,575 = $3,955

Which of the following statements is not correct?

multiple choice
When a periodic system is in use, the Purchases account must be credited for its account balance to close this account to the Income Summary account.
When a periodic inventory system is in use, the Merchandise Inventory account is both debited and credited in the closing entry process.
When a periodic system is in use, the Purchases Returns and Allowances, the Purchases Discounts, and the Transportation-In accounts must be debited to close their account balances to the Income Summary account.
When a periodic system is in use, each Purchases, Purchases Return and Allowance, Purchases Discount, and Transportation-In transaction is recorded in a separate temporary account.

Answers

Answer:

When a periodic system is in use, the Purchases Returns and Allowances, the Purchases Discounts, and the Transportation-In accounts must be debited to close their account balances to the Income Summary account.  

Explanation:

In the case of the periodic system, the following statements are true:

a. While using this method, the purchase would be credited to its balance also the account would be closed by using the income summary account

b. The inventory would be debited and credited while processing the closing entry

c. Also the purchase, purchase return, etc would be recognized as a distinct temporary account

In the midst of closing procedures, Echo Corporation's accountant became ill and was hospitalized. You have volunteered to complete the closing of the books, and you find that all revenue and expense accounts have zero balances. The Dividends account has a debit balance of $18,750. The Retained Earnings accounts has a beginning credit balance of $134,000. Expenses totaled $325,500 and revenues totaled $364,400.
Prepare journal entries to complete the closing procedures as of year-end. To close the Dividends account.

Answers

Answer:

Revenues Dr $364,400

Income summary Cr $364,400  

(Closing revenue accounts)

Income summary  Dr $325,500

Expenses Cr $325,500

(Closing expense accounts)

Income summary Dr $38900

Retained earnings Cr $38900

(Transferring balance in income summary to retained earnings)

Dividends Dr $18,750

Retained earnings Cr $18,750

(Closing of dividends)

A firm must choose between two investment alternatives, each costing $105,000. The first alternative generates $35,000 a year for four years. The second pays one large lump sum of $152,500 at the end of the fourth year. If the firm can raise the required funds to make the investment at an annual cost of 9 percent, what are the present values of two investment alternatives

Answers

Answer:

Present Value of first option:

= -105,000 + 35,000/ (1 + 9%) + 35,000/(1 + 9%)² + 35,000/(1 + 9%)³ + 35,000/(1 + 9%)⁴

= -105,000 + 113,390.19

= $8,390.20

Present Value of second option:

= -105,000 + 152,500/ (1 + 9%)⁴

= -105,000 + 108,034.84

= $3,034.84

A company is targeting its marketing by running an advertising campaign showing a Hmong family celebrating its traditions during the 4th of July holiday. The ad campaign features the company products being used by the children. What area of consumer decision influence is the marketing campaign using?

a. American culture, an ethnic subculture, and family

b. psychological aspects of belief and attitude

c. social class and word-of-mouth influence

Answers

Answer:

American culture, an ethnic subculture, and family

Explanation:

Here is the ledger for Blossom Company.

Cash
Oct. 1 8,660 Oct. 4 2,060
Oct. 10 2,640 Oct. 12 3,160
Oct. 10 9,660 Oct. 15 360
Oct. 20 810 Oct. 30 410
Oct. 25 3,660 Oct. 31 610

Accounts Receivable
Oct. 6 910 Oct. 20 810
Oct. 20 1,030

Supplies
Oct. 4 2,060 Oct. 31 1,840
Equipment
Oct. 3 4,660
Notes Payable
Oct. 10 9,660

Accounts Payable
Oct. 12 3,160 Oct. 3 4,660
Common Stock
Oct. 1 8,660
Oct. 25 3,660

Dividends
Oct. 30 410
Service Revenue
Oct. 6 910
Oct. 10 2,640
Oct. 20 1,030
Salaries and Wages Expense
Oct. 31 610
Supplies Expense
Oct. 31 1,840
Rent Expense
Oct. 15 360

Required:
Reproduce the journal entries for only the transactions that occurred on October 1, 10, and 20.
b.Prepare a trial balance at October 31.

Answers

Answer:

1/Oct : Cash (Dr.) $8,660

Accounts Receivable (Cr.) $8,660

10/Oct : Equipment & Supplies (Dr.) $9,660

Notes Payable (Cr.) $9,660

20/Oct : Accounts Receivable (Dr.) $2,640

Service Revenue (Cr.) $2,640

Explanation:

Debits $16,960

Cash 6,600

Accounts Receivable 1,840

Supplies 1,840

Equipment 4,660

Dividend 2,020

Credits : $16960

Accounts Payable 4,660

Notes Payable 9,660

Service Revenue 2,640

Sheila Williams, a medical secretary, earns $2,437 monthly for a 34-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amounts:

a. The regular semimonthly earnings
b. The overtime earnings
c. The total earnings

Answers

Answer:

a. The regular semimonthly earnings

regular semimonthly earnings = [34 hours + 34 hours + (10 hours - 2 hours)] x [$2,437 / (34 hours x 4)] = 76 hours x $17.92/hr = $1,361.85

b. The overtime earnings

overtime earnings = 2 hours x [$2,437 / (34 hours x 4)] x 1.5 = $53.76

c. The total earnings

total earnings = $1,361.85 (regular earnings) + $53.76 (overtime earnings) = $1,415.61

Doug works as the Heavy Haul Manager for Lone Star Transportation. He is currently working on a wind farm project and deciding which drivers of his team will work on the project and which field supervisors will work on communicating with GE who is building the wind farm. He is also assigning drivers certain sections of the wind turbines to ensure that the parts are delivered in the correct order for the project. Which of the following management functions is Doug undertaking?
A. Scrutinizing.
B. Planning.
C. Organizing.
D. Envisioning.
E. Controlling.

Answers

Answer:

C

Explanation:

From the list below, choose the items that are classified as a materials activity(You may select more than one answer.
1. Raw materials used
2. Raw materials beginning inventory
3. Raw materials purchases
4. Work in process beginning inventory
5. Goods manufactured
6. Direct labor used
7. Factor overhead used

Answers

Answer:

youuurrr mooomm

Explanation:

:D

Online recommendation engines typically are based on

Answers

Answer:

An online recommendation engine is a set of software algorithms that uses past user data and similar content data to make recommendations for a specific user profile. An online recommendation engine is a set of search engines that uses competitive filtering to determine what content multiple similar users might like.

Explanation:

On July 1, 2020, Splish Brothers Inc. pays $24,900 to Kalter Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Splish Brothers Inc., journalize and post the entry on July 1 and the annual adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answers

Answer and Explanation:

The journal entries are shown below:

On July 1

Prepaid Insurance $24,900  

      To Cash $24,900

(being the prepaid insurance is recorded)

Here prepaid insurance is debited as it increased the assets and cash is credited as it decreased the assets  

On Dec 31

Insurance expense $4,150  ($24,900 ×6 ÷ 36)

        To Prepaid Insurance $4,150

(being insurance expense is recorded)

The insurance expense is debited as it increased the expenses and credited the prepaid insurance as it decreased the assets  

Urshela Company paid four months insurance on October 1, 2017 for $13,200. Urshela originally recorded the full insurance payment in the prepaid insurance account, Urshela operates on a calendar year basis. What adjusting journal entry would Urshela be required to make at 12/31 to properly recognize insurance expense for the year

Answers

999 trillion dollars in a year

Grahame, Inc. has a fiscal year-end of September 30th. On March 1, 2015, Grahame authorized $800,000 in bonds payable; the bonds carry a stated interest rate of 6%, interest to be paid semi-annually on February 28, and August 31st with a term of 12 years. On August 1, 2016, Grahame issued hree-quarters of the bonds at a premium of $25,400.
Prepare the journal entries that would be required relating to the bonds over period March 1, 2015 through September 30, 2016.

Answers

Answer:

Grahame, Inc.

Journal Entries:

March 1, 2015:

No journal entry.  A memorandum record is made to recognize that $800,000 bonds payable were authorized to be issued, at an interest rate of 6% with a maturity period of 12 years.

August 1, 2016:

Debit Cash $625,400

Credit Bonds Payable $600,000

Credit Bonds Premium $25,400

To record the issue of 3/4 of the $800,000 bonds payable at a premium of $25,400.

September 30, 2016:

Debit Interest Expense $5,647

Credit Interest Payable $5,647

To accrue interest on bonds payable.

Explanation:

a) Data and Calculations:

Authorized bonds payable = $800,000

Rate of interest = 6%

Bonds maturity period = 12 years

Interest payable on the bonds on February 28 and August 31st.

Issued bonds payable = $600,000 ($800,000 * 3/4)

Date of issue = August 1, 2016

Interest Expense = $600,000 * 6% * 2/12 = $6,000

Bonds Premium amortization = $25,400/12 * 2/12 = $353

The interest expense will be reduced by $353 to $5,647 ($6,000 - 353)

In each of the following cases, determine how supply or demand shifts and how the equilibrium changes.
Select the correct answer in each blank space (_______)
a. Smartphones: Microchips used in smartphones become less costly to produce. As a result, the __________________( *Supply of and demand for, *Supply of, or *Demand for) smartphones increase(s), causing the equilibrium price to (*Rise, *Fall, or *Rise, fall or remain unchanged) and the equilibrium quantity to (*Rise, fall or remain unchanged, *Rise, *Fall)
b. ALS medical research funds: The ALS ice bucket challenge goes viral, leading to greater awareness of the benefits of and need for ALS research. As a result, the _____________ ( *Supply of and demand for, *Supply of, or *Demand for) ALS research increase(s), causing the equilibrium price (or opportunity cost) of such research to __________ (*Rise, fall or remain unchanged, *Rise, *Fall) and the equilibrium quantity to __________ (*Rise, fall or remain unchanged, *Rise, *Fall)

Answers

Answer:

Supply of

fall

rise

b. demand for

rise

rise

Explanation:

A microchip is a complement in the production of smartphones

Complement goods are goods used together.

If the price of microchips reduces, the cost of making smartphones falls and as a result, the supply of smart phones increases. This would lead to a rightward shift of the supply curve. This leads to a decrease in equilibrium price and an increase in equilibrium quantity

Due to the awareness, the demand for ALS research would increase, this would lead to a rise in price and quantity demanded.

Focus groups an example of what type of research

Answers

Answer:

i think focus groups would be case studies? i'm not sure though

Explanation:

Methodology :

Types of research.

Correlational research.

Descriptive research.

Ethnographic research.

Cross-sectional studies.

Longitudinal studies.

Case studies.

Match the vocabulary word with the correct definition
system for gathering and organizing marketing
information used in decision-making
specific actions which advance the strategy and achieve
an end result
specific, measureable, short-term expectations
objectives
goals
broad, long-term expectations for future achievements
structured research which uses the scientific method and
standardized questions to make generalizations and
predictions, includes questionnaires, surveys and
experiments
statements describing the overall approach to how goals
and objectives will be achieved
:: marketing information system
:: quantitative research
:: strategies
:: tactics

Answers

Answer:

e 552gbrbrnrbthrjhhbbb vt to o

A limit buy order is an order to buy if the stock price goes ___ a specified level; a stop buy is an order to buy if the stock price goes ___ a specified level; a limit sell is an order to sell if the stock price goes ___ a specified level; a stop loss is an order to sell if the stock price goes ___ a specified level.

Answers

Answer:

YES

Explanation:

Why is the infrastructure used for marketing sales in the past becoming useless for today’s needs?

I’ll give brainlest to the best answer!!

Answers

Answer:

The infrastructure used for marketing sales in the past becoming useless for today’s needs is described below in detail.

Explanation:

Public activities are the design of modern life. Whether community or agricultural, the roads that convey our goods, the gutters that preserve our health and wealth, the cables that provide our electricity, and the vessels that transport our water enable society to operate. Every amenity our neighborhoods take for the award is built on preparation, architecture, building, and managing these assets.

Throughout history, people have prospered through improvements in government works.

functions of a property manager

Answers

A property manager takes charge of a client's investment property. The responsibilities of this job include organising and maintaining tenants, reporting to the property owner, and managing the property's finances.

Hope this helps :)

Steve has been given the charge of managing unskilled labor in the production units of his company. These workers are primarily motivated by financial incentives and other perks such as discount coupons and free movie or lunch days. In this scenario, which of the following power bases should Steve primarily use to influence the workers to improve their productivity?

a. Referent power
b. Expert power
c. Reward power
d. Information power

Answers

Answer:

c. Reward power

Explanation:

Reward power is the power to influence employees or to impress employees by giving them some reward for doing certain things. The reward is clear and vague .                                                  so correct option is c. Reward power

Suppose Manuel is the only seller in the market for bottled water and Hubert is the only buyer. The following lists show the value Hubert places on a bottle of water and the cost Manuel incurs to produce each bottle of water:
Hubert's Value Manuel's Costs
Value of first bottle: $10 Cost of first bottle: $1
Value of second bottle: $7 Cost of second bottle: $3
Value of third bottle: $3 Cost of third bottle: $7
Value of fourth bottle: $1 Cost of fourth bottle: $10
The following table shows their respective supply and demand schedules:
Price Quantity Demanded Quantity Supplied
$1 or less 4 0
$1 to $3 3 1
$3 to $7 2 2
$7 to $10 1 3
More than $10 0 4
Use Raphae's supply schedule and Larry's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8.
A price of____brings supply and demand into equilibrium.
At the equilibrium price, consumer surplus is_____producer surplus is_____, and total surp is_____.
If Raphael produced and Larry consumed one less bottle of water, total surplus would_____.
if instead, Raphael produced and Larry consumed one additional bottle of water, total surplus would_____.

Answers

Answer:

Manuel and Hubert

A price of__$5__brings supply and demand into equilibrium.

At the equilibrium price, consumer surplus is__$2___producer surplus is__$2___, and total surplus is__$4___.

If Manuel produced and Hubert consumed one less bottle of water, total surplus would__$6___.

if instead, Manuel produced and Hubert consumed one additional bottle of water, total surplus would_$6____.

Explanation:

a) Data and Calculations:

Hubert's Value                                 Manuel's Costs

Value of first bottle:      $10             Cost of first bottle: $1

Value of second bottle: $7              Cost of second bottle: $3

Value of third bottle: $3                   Cost of third bottle: $7

Value of fourth bottle: $1                 Cost of fourth bottle: $10

The following table shows their respective supply and demand schedules:

Price               Quantity        Quantity

                   Demanded     Supplied

$1 or less            4                    0

$1 to $3              3                     1

$3 to $7             2                    2

$7 to $10            1                    3

More than $10   0                   4

Using Manuel's supply schedule and Hubert's demand schedule to find the quantity supplied and quantity demanded at prices of $2, $5, and $8.

Price     Quantity      Quantity

         Demanded     Supplied

$2            3                 1

$5            2                2

$8            1                 3

At the equilibrium price:

Consumer Surplus = $7 - $5 = $2

Producer Surplus =   $5 - $3 = $2

Total surplus is $2 * 2 = $4

Adams Company has two products: A and B. The annual production and sales of Product A is 2,300 units and of Product B is 1,700 units. The company has traditionally used direct labor-hours as the basis for applying all manufacturing overhead to products. Product A requires 0.3 direct labor-hours per unit and Product B requires 0.6 direct labor-hours per unit. The total estimated overhead for next period is $105,475.
The company is considering switching to an activity-based costing system for the purpose of computing unit product costs for external reports. The new activity-based costing system would have three overhead activity cost pools--Activity 1, Activity 2, and General Factory--with estimated overhead costs and expected activity as follows:
Total Estimated
Overhead
Costs Expected Activity
Product A Product B Total
Activity 1 $32,592 1,600 1,200 2,800
Activity 2 18,564 2,300 800 3,100
General Factory54,319 690 1,020 1,710
Total $105,475
(Note: The General Factory activity cost pool's costs are allocated on the basis of direct labor-hours.)
The overhead cost per unit of Product B under the traditional costing system is closest to:________.
a. $20.30
b. $14.62
c. $16.71
d. $37.01

Answers

Answer:

The correct answer is D.

Explanation:

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Total estimated overhead= $105,475

Total direct labor hours= (2,300*0-3) + (1,700*0.6)

Total direct labor hours= 1,710

Predetermined manufacturing overhead rate= 105,475 / 1,710

Predetermined manufacturing overhead rate= $61.68 per direct labor hour

Now, we can allocate overhead to Product B:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 61.68*(0.6*1,700)

Allocated MOH= $62,913.6

Finally, the cost per unit:

Cost per unit= 62,913.6/1,700

Cost per unit= $37

Statement of stockholders' equity Financial information related to All Seasons Company for the month ended June 30, 20Y7, is as follows:_______.
Common stock, June 1, 20Y7 $30,000
Stock issued in June 20,000
Net income for June 87,500
Dividends during June 15,000
Retained earnings, June 1, 20Y7 145,000
Prepare a statement of stockholders' equity for the month ended June 30, 20Y7. If an amount is zero, enter "0"

Answers

Answer:

Stockholders' equity  is $267,500.

Explanation:

Note: See the attached excel file for the statement of stockholders' equity.

The following are used to confirm the figures in the ayyached excel file:

Seasons Company

Statement of Stockholders' Equity

for the month ended June 30, 20Y7

Particular                                        Amount ($)      

Common stock (w.1)                          50,000    

Retained earnings (w.2)                   217,500  

Stockholders' equity                        267,500  

Workings:

w.1: Common stock June 30, 20Y7 = Common stock, June 1, 20Y7 + Stock issued in June = $30,000 + $20,000 = $50,000

w2: Retained earnings June 30, 20Y7 = Retained earnings, June 1, 20Y7 + Net income for June - Dividends during June = $145,000 + $87,500 - $15,000 = $217,500

If the government places a $2 tax per bag of potato chips on the producers, what would the consumers of potato chips observe? a. There would be no change in price and the consumer would not notice. b. The government would tax individuals who bought too many potato chips. c. Consumers would pay the full $2 tax in the form of a price increase. d. The price of potato chips would rise by some amount, but by less than $2.

Answers

Answer

d. the price of potato hips would rise by some amount

Explanation:

If the government places a $2 tax per bag of potato chips on the producers, then the price of potato chips would rise by some amount, but by less than $2. Option (d) is correct.

What do you mean by Tax?

In order to pay for general government services, goods, and activities, local, state, and federal governments must collect mandated payments or charges from citizens and corporations.

While taxes cause deadweight loss, the exact amount depends on a number of factors. The ability of a provider to deliver the desired goods to the customer and the amount that a consumer is ready to spend on a product are two of the most crucial factors. This is an illustration of the economic principle of supply and demand.

The supply curve shows an upward tendency when the price of potatoes rises by $2 tax because more potatoes are supplied. If a non-price element changes, the supply curve shifts to the right.

Therefore, Option (d) is correct.

Learn more about Tax, here;

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