Answer:
The Deli-Sub Shop
1. Budgeted operating income based on the original budget data:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,000,000
Operating Income $500,000
2. 10% increase in contribution, holding revenues constant:
Revenues $11,000,000
Variable costs $7,150,000
Contribution $3,850,000
Fixed costs $3,000,000
Operating Income $850,000
3. A 10% decrease in contribution margin, holding revenues constant:
Revenues $11,000,000
Variable costs $7,850,000
Contribution $3,150,000
Fixed costs $3,000,000
Operating Income $150,000
4. A 5% increase in fixed costs:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,150,000
Operating Income $350,000
5. A 5% decrease in fixed costs:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $2,700,000
Operating Income $800,000
6. A 5% increase in units sold:
Revenues $11,550,000
Variable costs $7,875,000
Contribution $3,675,000
Fixed costs $3,000,000
Operating Income $675,000
7. A 5% decrease in units sold:
Revenues $10,450,000
Variable costs $7,125,000
Contribution $3,325,000
Fixed costs $3,000,000
Operating Income $325,000
8. A 10% increase in fixed costs and a 10% increase in units sold:
Revenues $12,100,000
Variable costs $8,250,000
Contribution $3,850,000
Fixed costs $3,000,000
Operating Income $850,000
9. A 5% increase in fixed costs and a 5% decrease in variable costs:
Revenues $11,000,000
Variable costs $7,125,000
Contribution $3,875,000
Fixed costs $3,150,000
Operating Income $725,000
10. 2 A 10% increase in contribution margin, holding revenues constant
and
8 A 10% increase in fixed costs and a 10% increase in units sold
Explanation:
a) Data and Calculations:
Corporate Budget:
Revenues $11,000,000
Variable costs $7,500,000
Contribution $3,500,000
Fixed costs $3,000,000
Operating Income $500,000
b) A 10% or 5% increase is multiplied by a factor of 1.1 or 1.05 while a 10% or 5% decrease is multiplied by a factor of 0.9 or 0.95 respectively.
One of your suppliers has been providing LED lights for your facilities for several years. One of the new hires on the maintenance staff reports that he noticed a discrepancy between the model numbers of the LEDs he has been replacing in the fixtures and the model numbers cited in the work orders. When you call the maintenance director, she assures you the specifications are the same for both models with regard to luminous emittance (lux measurement). She is an engineer so you should ignore the lower ranking, inexperienced person's report (especially since he isn't in your chain of command).
a. True
b. False
The following list includes a series of accounts for Sanjeev Corporation, which has been operating for three years. These accounts are listed and numbered for identification. Following the accounts is a series of transactions. For each transaction, indicate the account(s) that should be debited and credited by entering the appropriate account number(s) to the right of each transaction. The first transaction is used as an example.
Account No. Account Title Account No. Account Title
1 Cash 10 Income Taxes Payable
2 Accounts Receivable 11 Common Stock
3 Supplies 12 Additional Paid-in Capital
4 Prepaid Expenses 13 Retained Earnings
5 Equipment 14 Service Revenue
6 Patents 15 Operating Expenses (wages, supplies)
7 Accounts Payable 16 Income Tax Expense
8 Note Payable 17 Interest Expense
9 Wages Payable
Answer:
Note: The question is attached as picture
(a) Example has been illustrated
(b) Dr 15. Operating Expenses (wages, supplies)
Cr 1. Cash
(c) Dr 7. Account Payable
Cr 1. Cash
(d) Dr 3. Supplies
Cr 1. Cash
(e) Dr 2. Account Receivable
Cr 14. Service Revenue
(f) Dr 1. Cash
Cr 2. Account Receivable
(g) Dr 1. Cash
Cr 11. Common Stock
(h) Dr 15. Operating Expenses (wages, supplies)
Cr 1. Cash
(i) Dr 15. Operating Expenses (wages, supplies)
Cr 9. Wages Payable
(j) Dr 6. Patent
Cr 1. Cash
(k) Dr 1. Cash
Cr. 14. Service Revenue
(l) Dr 15. Operating Expenses (wages, supplies)
Cr 3. Supplies
(m) Dr 16. Income Tax Expense
Cr 1. Cash
Cr. 10. Income Tax Payable
(n) Dr 8. Note Payable
Dr 17. Interest Expense
Cr 1. Cash
(o) Dr 4. Prepaid Expense
Cr 1. Cash
155 million people were working in the US in 2016. If 42% of all people working were baby boomers, how many were working in 2016? If 15% of the baby boomers retire within 10 years, how many jobs will this represent from 2016 employment?
Answer:
65,100,100 baby boomers were working: 6.3 %
Explanation:
In 2016, 155,000,000 people were working.
42 percent were baby boomers,
The actual number of baby boomers were
= 42/100 x 155,000,000
=0.42 x 155,000,000
=65,100,100 baby boomers were working
If 15 percent of baby boomers were to retire in 10 years
The number ow retirees will
=15% of 65,100,100
=15/100 x 65,100,100
=0.15 x 65,100,100
=9, 765,015
As a percentage of the number of people working in 2016
= 9, 765,015/155,000,000 x 100
=0.0630000 x 100
=6.3 %
What is the basic economic problem?
a
Creating stability in the stock market.
b
Making products available at places that are convenient for customers.
c
Being a competitive business in the marketplace.
d
Making choices about using limited resources to satisfy unlimited wants.
im on a test please help
Effective versus nominal interest ratesBank A pays 8% interest compounded annually on deposits, while Bank B pays 7% compounded daily. Based on the EAR (or EFF%), which bank should you use?A. You would choose Bank A because its EAR is higher.B. You would choose Bank B because its EAR is higher.C. You would choose Bank A because its nominal interest rate is higher.D. You would choose Bank B because its nominal interest rate is higher.E. You are indifferent between the banks and your decision will be based upon which one offers you a gift for opening an account.Could your choice of banks be influenced by the fact that you might want to withdraw your funds during the year as opposed to at the end of the year? Assume that your funds must be left on deposit during an entire compounding period in order to receive any interest.A. If funds must be left on deposit until the end of the compounding period (1 year for Bank A and 1 day for Bank B), and you think there is a high probability that you will make a withdrawal during the year, then Bank A might be preferable.If funds must be left on deposit until the end of the compounding period (1 year for Bank A and 1 day for Bank B), and you have no intentions of making a withdrawal during the year, then Bank B might be preferable.B. If funds must be left on deposit until the end of the compounding period (1 day for Bank A and 1 year for Bank B), and you think there is a high probability that you will make a withdrawal during the year, then Bank B might be preferable.C. If funds must be left on deposit until the end of the compounding period (1 year for Bank A and 1 day for Bank B), and you think there is a high probability that you will make a withdrawal during the year, then Bank B might be preferable.D. If funds must be left on deposit until the end of the compounding period (1 day for Bank A and 1 year for Bank B), and you think there is a high probability that you will make a withdrawal during the year, then Bank A might be preferable.
Answer:
A. You would choose Bank A because its EAR is higher.
C) If funds must be left on deposit until the end of the compounding period (1 year for Bank A and 1 day for Bank B), and you think there is a high probability that you will make a withdrawal during the year, then Bank B might be preferable.
Explanation:
Effective interest rate(EFF%) or EAR=[ (1+r/n)^n -1]
r= nominal interest rate
n= number of compounding period per year.
For bank A we have 8%
%FF%)=[(1+0.08/1)^1 -1]
= 1.08-1
= 0.08×100
= 8%
For bank B we have 7%
EFF%)=[(1+0.07/365)^365 -1]
= 1.0725-1
= 0.0725×100
= 7.25%
You would choose Bank A because its EAR is higher. i.e bank A has 8% and bank B
7.25 respectively.
.Could your choice of banks be influenced by the fact that you might want to withdraw your funds during the year as opposed to at the end of the year?
Yes, it will , because bank B will bring interest every day, so it will be preferable, in the case that the funds is withdrawable during the year and that no interest will be generated.
because for bank A to earn interest you will need to leave the fund there for the whole year incase the fund will remain as deposit for the compounding period for interest sake.
And the circular flow model which part of the economy provides products to households
Answer: product markets
Explanation:
Answer:
Products Markets
"16. An investment promises to pay $6,000 at the end of each year for the next five years and $4,000 at the end of each year for years 6 through 10. a. If you require a 12 percent rate of return on an investment of this sort, what is the maximum amount you would pay for this investment?"
Answer:
$33,387.70
Explanation:
A summary of the cash flows for this investment is :
Year 1 $6,000
Year 2 $6,000
Year 3 $6,000
Year 4 $6,000
Year 5 $6,000
Year 6 $4,000
Year 7 $4,000
Year 8 $4,000
Year 9 $4,000
Year 10 $4,000
So, clear these are uneven cash flows thus use your CFj function on your financial calculator to find the Net Present Value at the rate of 12% as below:
CFj $6,000
CFj $6,000
CFj $6,000
CFj $6,000
CFj $6,000
CFj $4,000
CFj $4,000
CFj $4,000
CFj $4,000
CFj $4,000
I/YR = 12 %
SHIFT NPV = $33,387.70
Thus, the maximum amount you would pay for this investment is $33,387.70.
you exercise for 30 minutes twice each day what's approximate percentage of your day is been on exercise?
Answer:
30+30 =1 hour 1 hour out of 24 or 4.1%
Explanation:
Marconi Co. has the following information available for the current year: Net Sales $ 765,000 Bad Debt Expense 45,000 Accounts Receivable, Beginning of Year 135,000 Accounts Receivable, End of Year 70,000 Allowance For Doubtful Accounts, Beginning of Year 57,000 Allowance For Doubtful Accounts, End of Year 77,000 What was the amount of write-offs during the year?
Answer:
$25,000
Explanation:
When there is a movement in allowance for bad debt account, it is usually as a result of bad debts and bad debts already written off.
The amount of write offs during the year is computed as follows;
Amount write off = Beginning allowance for doubtful accounts + Bad debt expenses - Closing allowance for doubtful accounts
= $57,000 + $45,000 - $77,000
= $25,000
Therefore, the amount of write offs during the year is $25,000
Player Corporation purchased 100 percent of Scout Company's common stock on January 1, 20X5, and paid $28,000 above book value. The full amount of the additional payment was attributed to amortizable assets with a life of eight years remaining at January 1, 20X5. During 20X5 and 20X6, Scout reported net income of $33,000 and $6,000 and paid dividends of $15,000 and $12,000, respectively. Player uses the equity method in accounting for its investment in Scout and reported a balance in its investment account of $161,000 on December 31, 20X6.Required:Compute the amount paid by Player to purchase Scout shares.
Answer:
$156,000
Explanation:
The computation of the amount paid by Player to purchase Scout shares is shown below:-
Particulars Amount
Investment Balance on Dec. 31, 2016 $161,000
Increase Account Balance during 2015
Less : Income of 2015 ($33,000)
Add : Amortized Difference
amount ($28,000 × 8 years) $3,500
Add : Dividend of 2015 $15,000 ($14,500)
Decrease Account Balance during 2016 :-
Less : Income of 2016 ($6,000)
Add : Amortized Difference Amount
($28,000 ÷ 8 years) $3,500
Add : Dividend of 2015 $12,000 $9,500
Investment Balance on Date of purchase $156,000
Suppose the beta of Microsoft is 1.13, the risk-free rate is 3 percent, and the market risk premium is 8 percent. Use CAPM to calculate the expected return for Microsoft. Group of answer choices 12.04% 15.66% 13.94% 8.65%
Answer:the Expected return for Microsoft = 12.04%
Explanation:
According to Capital Asset Pricing Model CAPM, we have that
Expected return= risk free rate+(betaXmarket risk premium)
= 3 + ( 8 x 1.13)
=3+9.04
=12.04%
Therefore the Expected return for Microsoft = 12.04%
Southwest Pediatrics has the following balances on December 31, 2021, before any adjustment: Accounts Receivable = $116,000; Allowance for Uncollectible Accounts = $1,900 (debit). On December 31, 2021, Southwest estimates uncollectible accounts to be 15% of accounts receivable.
Required:
1. Record the adjusting entry for uncollectible accounts on December 31, 2021.
2. Determine the amount at which bad debt expense is reported in the income statement and the allowance for uncollectible accounts is reported in the balance sheet.
3. Calculate the net realizable value of accounts receivable.
Answer:
Bad Debt expense = Allowance for uncollectible debit + (Estimated uncollectibles)
= 1,900 + (15% * 116,000)
= $19,300
1.
Dec. 31 DR Bad debt expenses $19,300
CR Allowance for Uncollectable $19,300
2. Balance Sheet;
= 116,000 * 15%
= $17,400
Income Statement;
= $19,300
3. Net realizable value
= Accounts receivable - Estimated uncollectibles
= 116,000 - 17,400
= $98,600
Nature's Garden Inc. produces wood chips, wood pulp, and mulch. These products are produced through harvesting trees and sending the logs through a wood chipper machine. One batch of logs produces 20,304 cubic yards of wood chips, 14,100 cubic yards of mulch, and 9,024 cubic yards of wood pulp. The joint production process costs a total of $32,000 per batch. After the split-off point, wood chips are immediately sold for $25 per cubic yard while wood pulp and mulch are processed further. The market value of the wood pulp and mulch at the split-off point is estimated to be $22 and $24 per cubic yard, respectively. The additional production process of the wood pulp costs $5 per cubic yard, after which it is sold for $30 per cubic yard. The additional production process of the mulch costs $4 per cubic yard, after which it is sold for $32 per cubic yard.
Allocate the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Wood chips $
Wood pulp
Mulch
Totals $
Answer:
Product Output Selling price per cubicyard net realizable value
Wood chips
20,304 cubic yards $25 507,600
Wood pulp
9,024 cubic yards $22 198,528
Mulch
14,100 cubic yards $24 338,400
Product Percentage of Net realizable value
Wood chips 48.60%
Wood pulp 19%
Mulch 32.40%
Product Allocation of Joint costs
Wood chips $15,552
Wood pulp $6,080
Mulch $10,368
Explanation:
Allocation of the joint costs of production to each product using the net realizable value method.
Joint Product Allocation
Product Output Selling price per cubic yard net realizable value
Wood chips
20,304 cubic yards $25 507,600
(20,304 x 25) = 507,600
Wood pulp
9,024 cubic yards $22 198,528
(9,024 x 22 )= 198,528
Mulch
14,100 cubic yards $24 338,400
(14,100 x 24 )= 338,400
Total $1,044,528
(507,600+198,528+338,400)
Product Percentage of Net realizable value
Wood chips 507,600/1,044,528= 48.60%
Wood pulp 198,528/1,044,528= 19%
Mulch 338,400/1,044,528= 32.40%
Total $1,044,528
Product Allocation of Joint costs
Wood chips 48.60% *32,000=$15,552
Wood pulp 19%*32,000=$6,080
Mulch 32.40% *32,000=$10,368
Total $32,000
Obtain estimates of daily relatives for the number of customers at a restaurant for the evening meal, given the following data.
Day Number Served Day Number Served
1 80 15 84
2 75 16 78
3 78 17 83
4 95 18 96
5 130 19 135
6 136 20 140
7 40 21 44
8 82 22 87
9 77 23 82
10 80 24 88
11 94 25 99
12 131 26 144
13 137 27 144
14 42 28 48
a. Use the centered moving average method. (Hint: Use a seven-day moving average.) (Round your intermediate calculations and final answers to 4 decimal places.) X⎯⎯⎯ 1's 2's 3's 4's 5's 6's 7's
b. Use the SA method. (Round your intermediate calculations to 3 decimals and final answers to 4 decimals.) SA Index 1's 2's 3's 4's 5's 6's 7's
Answer and Explanation:
Please find answer and explanation attached
Use the following information to answer question. Madelyn owns a small pottery factory. She can make 1,000 pieces of pottery per year and sell them for $100 each. It costs Madelyn $20,000 for the raw materials to produce the 1,000 pieces of pottery. She has invested $100,000 in her factory and equipment: $50,000 from her savings and $50,000 borrowed at 10 percent (assume that she could have loaned her money out at 10 percent, too). Madelyn can work at a competing pottery factory for $40,000 per year.
The accounting profit at Madelyn's pottery factory is:______
a. $35,000.
b. $75,000.
c. $30,000.
d. $70,000.
e. $80,000.
Record the following transactions related to purchases for Horston’s Art Supplies using the general journal form provided below. Assume Horston’s uses a periodic inventory system. Omit transaction descriptions from entries.
Date Transaction
Sept. 1 Purchased $8,000 of merchandise on account, FOB destination, n/30.
3 Returned $1,000 of merchandise purchased on September 1 due to defects.
7 Purchased $1,500 of merchandise on account, terms FOB shipping point, 2/10, n/30.
Prepaid freight of $75 was added to the invoice.
14 Paid for the merchandise purchased on September 7, less discount.
20 Paid for merchandise purchased on September 1, less return.
Answer:
Sept. 1
Merchandise $8,000 (debit)
Accounts Payable $8,000 (credit)
Merchandise purchased on credit
Sept. 3
Accounts Payable $1,000 (debit)
Merchandise $1,000 (credit)
Merchandise Returned to Suppliers
Sept. 7
Merchandise $1,500 (debit)
Accounts Payable $1,500 (credit)
Merchandise purchased on credit
Sept. 14
Accounts Payable $1,500 (debit)
Cash $1,470 (credit)
Discount received $30 (credit)
Payment of amounts due and recognition of cash discount
Sept. 20
Accounts Payable $7,000 (debit)
Cash (credit)
Payments of Amount due
Explanation:
Journal Entries and their narrations have been prepared above.
U-RIDE, Inc. currently produces the electric engines that are used in golf carts made and sold by the Company. Electco has offered to sell the electric engines to U-RIDE at a price of $235 each.
Current production information follows:
Unit-level material and labor $200
Facility-level depreciation of manufacturing equip. $5,500 /month
Product-level engine production supervisor's salary $2,500 /month
Annual facility-level utilities $17,500
U-RIDE is currently operating profitably producing and selling 2,000 engines a year using 90% of its manufacturing capacity. Which of the following is true?
a. U-RIDE should make the engines for cost savings of $25 per unit.
b. Buying the units would increase U-RIDE's cost by $13 per unit.
c. U-RIDE has avoidable costs of greater than $200 per unit and should therefore buy the engines.
d. Buying the units would increase profitability by $38 per unit.
Buying the engines will free up manufacturing capacity that could be used to make a new economy line golf cart that would produce an additional $65,000 profit per year. U-RIDE is currently operating profitably producing and selling 2,500 engines annually. Based on this information, which of the following is true?
a. The $36,000 is not relevant because it is an estimate.
b. Buying the units would increase U-RIDE's cost by $13 per unit.
c. U-RIDE has avoidable costs of less than $200 per unit and should therefore buy engines.
d. The cost of buying the engines is $5 per unit less than the relevant cost of making the units.
U-RIDE has avoidable costs of greater than $200 per unit and should therefore buy the engines if the following is true. The cost of buying the engines is $5 per unit less than the relevant cost of making the units is true. Thus, option 1. (c) and 2. (d) are correct.
Cost of labor: $200
$5,500 a year is the cost of manufacturing equipment.
Purchasing industrial equipment costs $458.33 a month.
Engine at the product level costs $2,500 per year.
Engine at the product level costs $208.33 per month.
Monthly utilities at the facility level equal $17,500 annually.
Monthly facility utilities equal $1,458.33 annually.
Costs for a month are $200, $458.33, $208.33, and $1,458.33.
Total cost each month is $2,325
Total cost = $2,325 × 2,000 engines x 12 months
Cost in total is $55,800,000
$55,800,000 / 2,000 equals the price per unit.
Each unit costs $27,900.
Elect co = $235 times 2,500, or $587,500
Electco equals $587,500 minus $65,000, or $522,500.
2,500 engines at $27,900 per each make a total of 69,750,000 engines.
Therefore, option 1. (c) and 2. (d) are correct.
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What should be the initial markup percent in a department that has the following figures: Net sales $320,000 Markdowns 7,800 Expenses 105,000 Employee discounts 1,950 Shortages 2,750 Alterations 1,025 Cash discounts 950 Profit 7.5%
Answer:
42.58%
Explanation:
Calculation for What should be the initial markup percent
First step is to calculate the gross margin using this formula
Gross Margin = Profit + Expenses,
Let plug in the formula
Gross margin = 105,000+24,000
Gross margin= 129,000
Second step is to calculate the reduction using this formula
Reduction = Markdown + Employee discount + Shortages
Let plug in the formula
Reduction = 7,800+1,950+2,750
Reduction = 12,500
Last step is to calculate the Intial Markup Percentage using this formula
Intial Markup Percentage = ( Gross margin + Reduction + Alteration - Cash Discount) / (Sales + Reduction)
Let plug in the formula
Intial Markup Percentage = (129,000+12,500+1,025-950) / (320,000+12,500)
Intial Markup Percentage = =141,575/332,500
Intial Markup Percentage =42.58%
Therefore What should be the initial markup percent is 42.58%
what is the difference between accrual and realization concept in accounting
The ultimate goal of operations management is to provide high-quality goods and services instantaneously in response to customer demand. Over the years, low cost often came at the expense of quality and flexibility. Furthermore, suppliers didn't always deliver when they said they would, so manufacturers had to carry large inventories of raw materials and components to keep producing. Such inefficiencies made U.S. companies vulnerable to foreign competitors who were using more advanced production techniques As a result of new global competition, companies have had to make a wide variety of high-quality custom-designed products at a very low cost. Something had to change on the production floor to make that possible. Several major developments have made U.S.companies more competitive:
(1) computer-aided design and manufacturing
(2) flexible manufacturing,
(3) lean manufacturing, and
(4) mass customization,
(5) CAD
(6) CAM
Match the company or role with the most appropriate manufacturing technique.
Dress designer: In addition to helping in the design of products, the use of this system allows designers to work in three dimensions
Shoe designer: The manufacturer programs the computer to make a simple design change, and then that change is readily Incorporated into production
Purse designer: Software programs unite these two computer-aided support systems. While the software is expensive, it cuts as much as 80 percent of the time needed to program machines to make parts.
Motor starters: Orders come in daily and, within 24 hours, the company's machines and robots manufacture, test, and package the starters-which are untouched by human hands. This system is so efficient it can even accommodate a special order (even a single item) in the assembly without slowing down the process.
Toyota corporation: This company utilizes the strategy of using half the human effort, halving the defects in the finished product, using one-third of the normal engineering effort, using half the floor space, and carrying 90 percent less inventory
Dell computers: Dell has set up its manufacturing process so that all its computers can be quickly assembled to individual customer orders.
Answer:
1. Dress designer: In addition to helping in the design of products, the use of this system allows designers to work in three dimensions
(5) CAD
2. Shoe designer: The manufacturer programs the computer to make a simple design change, and then that change is readily Incorporated into production (6) (CAM)
3. Purse designer: Software programs unite these two computer-aided support systems. While the software is expensive, it cuts as much as 80 percent of the time needed to program machines to make parts. (1) computer-aided design and manufacturing also known as CIM(Computer integrated manufacturing)
4. Motor starters: Orders come in daily and, within 24 hours, the company's machines and robots manufacture, test, and package the starters-which are untouched by human hands. This system is so efficient it can even accommodate a special order (even a single item) in the assembly without slowing down the process. (2) flexible manufacturing
5.Toyota corporation: This company utilizes the strategy of using half the human effort, halving the defects in the finished product, using one-third of the normal engineering effort, using half the floor space, and carrying 90 percent less inventory (3) lean manufacturing
6. Dell computers: Dell has set up its manufacturing process so that all its computers can be quickly assembled to individual customer orders. (4) mass customization
Explanation:
1. Computer-aided design and manufacturing or CIM: This is the use of computer software that combines the benefits of CAM and CAD.
(2) Flexible manufacturing: This refers to the use of machines that can be easily adapted to accommodate changes in the needs of customers or the manufacturer.
(3) Lean manufacturing: is based on the principle of accomplishing a lot of tasks with little manpower and efforts.
(4) Mass customization: is the act of manufacturing products that are suited to the wants and needs of customers in large quantities.
(5) CAD: Computer-aided design is needed for the design of products.
(6) CAM: This refers to the use of computer software to control the manufacturing process.
The given role or the companies would most adequately be linked to the technique of manufacturing would be as follows:
1) computer-aided design and manufacturing - 3. Purse designer
2) Flexible manufacturing - 4. Motor starters
3) lean manufacturing, - 5. Toyota corporation
4). mass customization, - 6. Dell computers
5). CAD - 1. Dress designer
6). CAM - 2. Shoe designer
Manufacturing TechniquesManufacturing techniques are characterized as the variety of processes that have been employed to develop or generate the product.
In the given question, a number of techniques have been referred to like Mass Customization, CAM, Computer-aided manufacturing, etc.
The companies working on technically advanced domains like designing would require the aid or involvement of computers to make their manufacturing process convenient and precise.
While the Starters company or Corporations would require flexible or lean manufacturing to ensure the accomplishment of desired tasks efficiently.
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Consider two neighboring island countries called Euphoria and Contente. They each have 4 million labor hours available per week that they can use to produce rye, jeans, or a combination of both. The following table shows the amount of rye or jeans that can be produced using 1 hour of labor.Country Rye Jeans(Bushels per hour of labor)(Pairs per hour of labor)Euphoria 5 20Contente 8 16 Initially, suppose Contente uses 1 million hours of labor per week to produce rye and 3 million hours per week to produce jeans, while Euphoria uses 3 million hours of labor per week to produce rye and 1 million hours per week to produce jeans. Consequently, Euphoria produces 15 million bushels of rye and 20 million pairs of jeans, and Contente produces 8 million bushels of rye and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of rye and jeans it produces.Euphoria's opportunity cost of producing 1 bushel of rye is ________ of jeans, and Contente's opportunity cost of producing 1 bushel of rye is ____________ of jeans. Therefore, __________ has a comparative advantage in the production of rye, and___________ has a comparative advantage in the production of jeans.Suppose that each country completely specializes in the production of the good in which it has a comparative advantage, producing only that good. In this case, the country that produces rye will produce ________million bushels per week, and the country that produces jeans will produce_________million pairs per week.
Explanation:
here is an explanation and solution to your question
For Euphoria:
The opportunity cost of producing a unit of rye in terms of jeans =20/5 = 4
for contente:
The opportunity cost of producing a unit of rye in terms of jeans = 16/8 = 2
opportunity cost of producing 1 unit of jean in terms of unit of rye:
for euphoria = 5/20 = 1/4
for contente = 8/16 = 1/2
1.
Euphoria's opportunity cost of producing a a bushel of rye is 4 pairs of jeans.
contentes opportunity cost of producing a bushel of rye is 2 pairs of jeans.
2.
contente has comparative advantage in producing rye
euphoria has comparative advantage in jeans production
3
contente produces 8 bushels of rye so with 4 million hours of labor = 8x4 = 32 million bushels in a week.
euphoria 20 pairs of jean in a week, using 4 million hours of labor. 20x4 = 80 pairs of jean a week
At the end of fiscal year 2018, Haley Legal Services and Delicious Doughnuts reported these adapted amounts on their balance sheets (all amounts in millions except for par value per share): EEB (Click the icon to view the balance sheet data.) Assume each company issued its stock in a single transaction. Journalize each company's issuance of its stock, using its actual account titles. Explanations are not required. (Enter amounts in millions. Record debits first, then credits. Exclude explanations from any journal entries.) Begin by joumalizing the Haley Legal Services common stock issuance.
Journal EntryData Table Accounts Debit Credit Milions Haley Legal Services Common stock, $0.01 par value, 2,400 shares issued S Additional paid-in capital 24 17,500 Delicious Doughnuts:
Common stock, no par value, 66 shares issued S 294
Answer:
Journal entry by Haley Legal services
Accounts title Debit Credit
Cash ($ 24 + 17500) $17,524
Common Stock $24
Additional Paid in Capital in excess of Par - Common Stock $17,500
Journal entry for Delicioy DOUGHNUT
Accounts title Debit Credit
Cash $294
Common Stock - nopar $294
Explanation:
Journal entry by Haley Legal services
Accounts title Debit Credit
Cash ($ 24 + 17500) $17,524
Common Stock $24
Additional Paid in Capital in excess of Par - Common Stock $17,500
Journal entry for Delicioy DOUGHNUT
Accounts title Debit Credit
Cash $294
Common Stock - nopar $294
The journal entry by Haley Legal services and Journal entry by Delicioy DOUGHNUT should be shown below.
Journal entry:by Haley Legal services
Accounts title Debit Credit
Cash ($ 24 + 17500) $17,524
Common Stock $24
Additional Paid in Capital in excess of Par - Common Stock $17,500
By Delicioy DOUGHNUT
Accounts title Debit Credit
Cash $294
Common Stock - nopar $294
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Slaq Computer Company manufactures notebook computers. The economic lifetime of a particular model is only four to six months, which means that Slaq has very little time to make adjustments in production capacity and supplier contracts over the production run. For a soon-to-be-introduced notebook, Slaq must negotiate a contract with a supplier of motherboards. Because supplier capacity is tight, this contract will specify the number of motherboards in advance of the start of the production run. At the time of contract negotiation, Slaq has forecasted that demand for the new notebook is normally distributed with a mean (�) of 10,000 units and a standard deviation (�) of 2,500 units. The net profit from a notebook sale is $500 (note that this includes the cost of the motherboard, as well as all other material; production, and shipping costs). (Hint: �! = $500) Motherboards cost $200 and have no salvage value (i.e., if they are not used for this particular model of notebook, they will have to be written off). (Hint: �" = $200) Use the news vendor model to compute a purchase quantity of motherboards that balances the cost of lost sales and the cost of excess material.
Answer:
11414.87205 units.
Explanation:
We have Underage cost cs to be $500
We have Overage cost Co to be $200
To get Critical fractile, we do this computation:
Cs/(Cs+Co)
500/(500+200)
500/700
0.714285714
Now the z score for this value,
normsinv(0.714285714)
= 0.565948821
To get what the question requires: mean+z-score*standard deviation
= 10000+(0.565948821*2500)
= 11414.87205 units
please note: I solved this without rounding the values.
We will have 10000+(0.57*2500)=11425 units if rounded
Washington State Fisheries, Inc., processes salmon for various distributors. Two departments, processing and packaging, are involved. Data relating to tons of salmon sent to the processing department during May follow:
Percent Completed Tons of Salmon Direct Materials Conversion
Work-in-process inventory, May 1 1,960 80 % 70 %
Work-in-Process inventory, May 31 3,340 50 % 30 %
Started processing during May 8,150
Required:
1. Calculate the number of tons completed and transferred out during the month.
2. Calculate the number of equivalent units for both direct materials and conversion for the month of May, assuming that the company uses the weighted-average method.
3. How would your answer in requirement 2 change if the percentage of completion in ending inventory were as follows:
direct materials 30%, conversion 40%
Answer:
1. Calculate the number of tons completed and transferred out during the month.
tons completed and transferred out = 1,960 + 8,150 - 3,340 = 6,770
2. Calculate the number of equivalent units for both direct materials and conversion for the month of May, assuming that the company uses the weighted-average method.
EU for materials = 6,770 + 1,670 = 8,440 EU
EU for conversion costs = 6,770 + 1,002 = 7,772 EU
3. How would your answer in requirement 2 change if the percentage of completion in ending inventory were as follows:
direct materials 30%, conversion 40%
EU for materials = 6,770 + 1,002 = 7,772 EU
EU for conversion costs = 6,770 + 1,336 = 8,106 EU
Explanation:
beginning WIP 1,960
materials 80% (20% remaining 392 EU)
conversion 70% (30% remaining 588 EU)
ending WIP 3,340
materials 50% (1,670 EU)
conversion 30% (1,002 EU)
tons started during May 8,150
alternative ending WIP 3,340
materials 30% (1,002 EU)
conversion 40% (1,336 EU)
A man invests his savings in two accounts, one paying 6 percent and the other paying 10 percent simple interest per year. He puts twice as much in the lower-yielding account because it is less risky. His annual interest is 4202 dollars. How much did he invest at each rate?
Answer:
Amount at 6% = $38,200Amount at 10% = $19,100Explanation:
Assume x is the amount in the 10% account.
The formula to solve would be;
(2x * 6%) + x * 10% = 4,202
0.12x + 0.1x = 4,202
0.22x = 4,202
x = 4,202/0.22
x = $19,100
The amount he invested at 6% is therefore;
= 19,100 * 2
= $38,200
Visibility across supply chain functions that can provide
(A) a consolidated view of demand
(B) inventories
(C) Either (a) or (b)
(D) Both (a) and (b)
o for sunnly chain planning are:
why is entrepreneurship important to society?
Answer:
Etrepreneurship is important as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs, but also for related businesses. Entrepreneurs also help drive change with innovation, where new and improved products enable new markets to be developed.
Explanation:
Hope I helped
At the end of each month, a company pays its employees. Payroll information below is for January, the first month of the fiscal year. Assume that none of the employees exceeds the Federal unemployment tax maximum salary of $7,000 in January. Salaries $ 1,000,000 Federal and state income taxes withheld 170,000 Federal unemployment tax rate 0.80 % State unemployment tax rate (after FUTA deduction) 5.40 % Social Security (FICA) tax rate 7.65 %
Required:
Record salaries expense and payroll tax expense for the January pay period.
Answer:
January 31, 202x, wages expense
Dr Wages expense 1,000,000
Cr Federal income taxes withheld payable 170,000
Cr FICA taxes withheld payable 76,500
Cr Cash 246,500
Taxes are generally paid the next month, that is why they are recorded as payable. This applies to both withheld taxes and payroll taxes.
January 31, 202x, payroll expense
Dr FICA taxes expense 76,500
Dr FUTA taxes expense 8,000
Dr SUTA taxes expense 54,000
Cr FICA taxes payable 76,500
Cr FUTA taxes payable 8,000
Cr SUTA taxes payable 54,000
The annual worth for years 1 through infinity of $50,000 now, $10,000 per year in years 1 through 15, and $20,000 per year in years 16 through infinity at 10% per year is closest to
Answer:
The annual worth of cash flow is $17,394
Explanation:
The computation is shown below:
Present value = F × (P|F,i,n) + A × (P|A,i,n)
= $50,000 + $10,000 × (P|A,10%,15) + ($20,000 ÷ 0.1) × (P|F,10%,15)
= $50,000 + $10,000 × 7.606 + ($20,000 ÷ 0.1) × 0.2394
= $173,940
Now
Annual Worth is
= P × (A|P,i,n)
= $173,940 × (A|P,10%,infinity)
= $173,940 × 0.1
= $17,394
Hence, the annual worth of cash flow is $17,394
On September 1 of the current year, Scots Company experienced a flood that destroyed the company's entire inventory. Because the company had not completed its month end reporting for August, it must estimate the amount of inventory lost using the gross profit method. At the beginning of August, the company reported beginning inventory of $215,950. Inventory purchased during August was $192,730. Net sales for the month of August were $543,500. Assuming the company's typical gross profit ratio is 40%.
Required:
Estimate the amount of inventory destroyed in the flood.
Answer:
$82,580
Explanation:
We can calculate the estimated amount of inventory destroyed in the flood by deducting the cost of goods sold by the cost of goods available for sale.
DATA
Beginning Inventory = $215,950
Inventory purchased = $192,730
Sales = $543,500
Calculation
Inventory destroyed Iestimated) = Cost of Goods available for sale - Cost of Goods Sold
Inventory destroyed Iestimated) = $408,680 - $326,100
Inventory destroyed Iestimated) = $82,580
Working
Cost of Goods available for sale = Beginning Inventory + Inventory purchased
Cost of Goods available for sale = $215,950 + $192,730
Cost of Goods available for sale = $408,680
Cost of Goods Sold = Sales - Gross Profits
Cost of Goods Sold = $543,500 - ($543400 x 40%)
Cost of Goods Sold = $ 326,100