Determine the order in which the following budgets are generally prepared.
A. Material purchases budget select a number.
B. Sales budget select a number.
C. Budgeted income statement select a number.
D. Production budget select a number.

Answers

Answer 1

Answer:

The order in which the following budgets are generally prepared are as arranged below:

1. Sales budget

2. Production budget

3. Material purchases budget

4. Budgeted income statement

In an attempt to expatiate the decision above. We must observe that income statement starts with revenue. Similarly here, the budget will starts with sales. The revenue section is followed by production budget which from which various budgets like material, direct labor and overhead budget are prepared from. After the Production budget, follow the Material purchase budget, then Budgeted Income Statement


Related Questions

can someone plz tell me the percentages

Answers

Does it matter what state ?

Answer:

1) 7.75%

2) 1.45%

3) 6.20%

4) 3.65%

Explanation:

They are listed

Hoffman Company purchased merchandise on account from a supplier for $65,000, terms 1/10, n/30. Hoffman Company returned $7,500 of the merchandise and received full credit.
a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?
b. What account is debited by Hoffman Company to record the return?

Answers

Answer: a. $56925 ; b. Account payable

Explanation:

a. If Hoffman Company pays the invoice within the discount period, what is the amount of cash required for the payment?

Purchase invoice = $65000

Less: Return = ($7500)

Net Purchase Invoice = $57500

Less: Discount = $57500 × 1% = $575

Cash received = $56925

b. What account is debited by Hoffman Company to record the return?

The account that is debited by Hoffman Company to record the return is the account payable.

a. Find the duration of a 6% coupon bond making annual coupon payments if it has three years until maturity and has a yield to maturity of 6%. Note: The face value of the bond is $1,000. (Do not round intermediate calculations. Round your answers to 3 decimal places.) b. What is the duration if the yield to maturity is 10%

Answers

Answer:

A) the formula to calculate modified duration of bonds:

modified duration = [1 - (1 + y)⁻ⁿ] / y

modified duration = [1 - (1 + 6%)⁻³] / 6%  = 2.673 years

if you want to determine the Macaulay duration = modified duration x (1 + yield) = 2.673 years x 1.06 = 2.833 years

B)   modified duration = [1 - (1 + 10%)⁻³] / 10%  = 2.487 years

if you want to determine the Macaulay duration = modified duration x (1 + yield) = 2.487 years x 1.1 = 2.736 years

a. The duration should be 2.833 years.

b. The duration should be 2.736 years.

The calculation is as follows:

Modified duration = [1 - (1 + y)⁻ⁿ] ÷ y

= [1 - (1 + 6%)⁻³] ÷ 6%  

= 2.673 years

 Macaulay duration = modified duration × (1 + yield)

= 2.673 years × 1.06

= 2.833 years

B)   modified duration = [1 - (1 + 10%)⁻³] ÷ 10%  

= 2.487 years  

Macaulay duration = modified duration × (1 + yield)

= 2.487 years × 1.1

= 2.736 years

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A competitive market is one in which:

a. few large sellers compete for a majority of the market share.
b. individual sellers and buyers have a lot of influence over market price.
c. government oversees its operation.
d. fully informed price-taking buyers and sellers easily trade a standardized good.

Answers

Answer:

d. fully informed price-taking buyers and sellers easily trade a standardized good.

Explanation:

A competitive market is a market where there is a large number of buyers and sellers that sell and purchased homogenous products. The sellers are to be considered as price takers also they cannot influence the price of the market. Plus, the demand for the perfect competition is perfectly elastic

Therefore the correct option is D.

Under the ABC costing method,

a. departments are identified as activities.
b. activity rates are calculated by dividing the budgeted activity cost by the total activity-base usage.
c. the budgetary activity costs are assigned to products using factory overhead rates for each activity.
d. All of these choices are correct.

Answers

Answer:

d. All of these choices are correct.

Explanation:

Activity Based Costing system is the cost attribution to cost units (products) on the basis of benefits received from indirect activities, that is overheads that can not be allocated to a particular product or process.

So the process involves identifying activities driving the overheads. Determining the activity rates and assigning the costs using activity rate.

So, all the options given are applicable.

Without prejudice to your solution to part (a), assume that you computed the June 30, 2020, inventory to be $60,480 at retail and the ratio of cost to retail to be 68%. The general price level has increased from 100 at January 1, 2020, to 108 at June 30, 2020. Compute the June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method.

Answers

Answer:

The June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method:

$65,318.40

Explanation:

a) Data and Calculations:

June 30, 2020 Inventory = $60,480 at retail

Ratio of cost to retail = 68%

Inventory at cost = $41,126.40 ($60,480 * 68%)

General price level increase from 100 to 108

Inventory at the June 30 price level under the dollar-value LIFO retail method:

Inventory at cost = $44,416.50 ($41,126.40 * 108/100)

Inventory at retail = $65,318.40 (44,416.50/68%)

During an interview, _______________questions require you to use your own experiences and attributes to craft answers and often deal with soft-skill areas such as teamwork, communication, leadership, conflict resolution, problem solving, mistakes, and job commitment.

Answers

Answer:

Behavioral questions

Explanation:

The answer to this question is behavioral questions. Also known as Behavioral interviewing, the focus of this kind or stage of interview is to know the experience of the candidate that is being interviewed. Speaking of experiences certain informations are required here, like;

Asking the candidate to tell how they have shown certain behaviors, abilities, skills and also knowledge. And also to answer questions on basic workplace scenarios concerning areas such as conflict resolution, leadership, mistakes, job commitment, e.t.c

____ is a referral service that employees can use to seek professional treatment for emotional problems or substance abuse.

Answers

Answer:

Employee assistant programs

Explanation:

An employee assistant prgram is a program organized by organizations to assist their employees' personal problems which are hindering their performance in work-place.

EAP's tend to assist those employees that suffer from alcohol abuse, emotional abuse, substance abuse, etc. EAP's is a short-term counselling or follow-up sessions provided  to employees facing above-mentioned abuses.

Therefore, the correct answer is employee assistant programs.

How does a business identify how much profit was made on a job?

Answers

Answer:

Making a profit is one of the most important objectives of a business. You can calculate your business profit by subtracting your total expenses from your total revenue. To identify what the revenues and expenses are, start by choosing the time period you want to study.

Explanation:

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Crown me as brainliest:)

0 / 1 pts Your firm has a potential project that will cost $5,000 now to begin. The project will then generate after-tax cash flows of $900 at the end of the next three years and then $1400 per year for the three years after that. If the discount rate is 8% then what is the PI

Answers

Answer:

PI=103.67%

Explanation:

Calculation for PI

To calculate PI (PROFITABILITY INDEX) the first step is to calculate the NPV ( Net present value) using Financial calculator by following the below step

CF0= -$5,000

C01=$900

FO1=3years

CO2= $1,400

FO2=3 years

NPV=?

I=8%

The next step is to enter the down arrow Cpt

Hence,

NPV = $183.48

Since we have know the NPV Now let calculate the PI using this formula

PI=(NPV+Potential project)/Potential project

Let plug in the formula

PI= ($183.48+$5,000)/$5,000

PI=$5,183.48/$5,000

PI= 1.03669*100

PI=103.67%

Therefore the PI will be 103.67%

This year Amy purchased $2,000 of equipment for use in her business.However, the machine was damaged in a traffic accident while Amy was transporting the equipment to her business.Note that because Amy did not place the equipment into service during the year, she does not claim any depreciation expense for the equipment.
a. After the accident, Amy had the choice of repairing the equipment for $1,800 or selling the equipment to a junk shop for $300.Amy sold the equipment.What amount can Amy deduct for the loss of the equipment?
b. After the accident, Amy repaired the equipment for $800.What amount can Amy deduct for the loss of the equipment?
c. After the accident, Amy could not replace the equipment so she had the equipment repaired for $2,300.What amount can Amy deduct for the loss of the equipment?

Answers

Answer:

a. After the accident, Amy had the choice of repairing the equipment for $1,800 or selling the equipment to a junk shop for $300.Amy sold the equipment.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $2,000 - $300 = $1,700 as casualty loss. Casualty losses occur due to unexpected and sudden events that damage or destroy assets.

b. After the accident, Amy repaired the equipment for $800.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $1,800 as casualty loss. She can deduct the lesser between the asset cost and the cost or repairing it.

c. After the accident, Amy could not replace the equipment so she had the equipment repaired for $2,300.What amount can Amy deduct for the loss of the equipment?

Amy can deduct $2,000 as casualty loss. She can deduct the lesser between the asset cost and the cost or repairing it.

What are the annual social security withholding for an executive whose annual gross earnings are $98,485?

Answers

Answer:

$6,106.07

Explanation:

Calculation for the annual Social security withholding

Based on the information given the annual gross earnings are the amount of $98,485 which is lower than the taxable maximum of the amount of $137,700 in 2020 as well as the amount of $142,800 in 2021 which means that the annual social security withholding will be :

Using this formula

Annual Social security withholding =6.2%*Annual gross earnings that is subject to a taxable maximum

Let plug in the formula

Annual Social security withholding= 6.2%*$98,485

Annual Social security withholding= $6,106.07

Therefore the Annual Social security withholding will be $6,106.07

You are an entrepreneur in the cyber security industry seeking to develop alliances in India. India has diverse regions with many different peoples, traditions, and levels of economic development. Which two regions of India may be most conducive to developing your entrepreneurial alliances? Why?

Please limit the length of responses to two paragraphs.

Answers

Answer:

Two places to conduct cyber business in India :

1. Bangalore, Karnataka

Bangalore karnataka is the also called the cyber hub of Asia. Due to the continuous work by the Karnantaka government this place has become the prime destination for cyber industries.

2. Gurugram, Haryana

After the division of hyderabad, the second best place to implement the cyber hub is gurugram due to its high availability of labor force and workplaces.

The two regions of India that may be most conducive to developing your entrepreneurial alliances will be Bengaluru and Delhi.

It should be noted that cyber security simply means the practice of defending computers, mobile devices, severs, networks, data, etc from unauthorized use.

Based on the information given, the two regions of India that may be most conducive to developing your entrepreneurial alliances will be Bengaluru and Delhi. The reason for choosing these countries is because they're the major IT hubs in the country.

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A 2-year maturity bond with face value of $1,000 makes annual coupon payments of $80 and is selling at face value. What will be the rate of return on the bond if its yield to maturity at the end of the year is?

Answers

Answer:

Rate of return = 9.887%

Explanation:

What will be the rate of return on the bond if its yield to maturity at the end of the year is 6%

New price of the bond = Present value of the final coupon payment + Present value of the maturity amount

New price of the bond = $80 / (1+r) +$1,000 / (1+r)

New price of the bond = $80 / (1+0.06) +$1,000 / (1+.06)

New price of the bond = $80 / (1.06) +$1,000 / (1.06)

New price of the bond = $1,080 / 1.06

New price of the bond = $1,018.87

Rate of return = Coupon + New price - Old price / Initial price

Rate of return = $80 + $1,018.87 - $1,000 / $1,000

Rate of return = $98.87 / $1,000

Rate of return = 0.09887

Rate of return = 9.887%

Based on the following information, calculate the cost of goods sold and ending inventory using FIFO, LIFO, and weighted average assuming a perpetual inventory system is in place.
Beginning Balance - 90 units at $11
March 3 - Purchase 300 units for $15
April 4 - Sell 240 units for $28
June 30 - Purchase 250 units for $18
August 16 - Sell 180 units for $30

Answers

Answer:

Cost of Sales :

FIFO = $ 6,030

LIFO = $6,840

Weighted Average = $6,354.60

Ending Inventory :

FIFO =  $4,176

LIFO = $3,150

Weighted Average = $3,636.60

Explanation:

FIFO

This method assumes that the first inventory purchased will be the first to be sold

Cost of Goods Sold :

90 units × $11   =  $990

150 units × $15 = $2,250

150 units × $15 = $2,250

30 units × $18  = $540

Total                 = $ 6,030

Ending Inventory :

232 units × $18 = $4,176

LIFO

This method assumes that the last inventory purchased, will be the last to be sold

Cost of Sales :

240 units × $15 =  $3,600

180 units × $18 =  $3,240

Total = $6,840

Ending Inventory :

90 units × $11  = $ 990

60 units × $15 = $ 900

70 units × $18 = $ 1,260

Total = $3,150

Weighted Average

A new average cost per unit is calculated with every purchase made.

New Average Cost = (90 units × $11 + 300 units × $15) ÷ 390 units

                                = $14.08

Cost of Sale , April 4 =  240 units × $14.08

                                  =   $3,379.20

New Average Cost = (150 units × $14.08 + 250 units × $18.00) ÷ 400 units

                               = $16.53

Cost of Sale, Aug 16 = 180 units × $16.53

                                  = $2,975.40

Total Cost of Sales =  $3,379.20 + $2,975.40

                                = $6,354.60

Ending Inventory = 220 units × $16.53

                             = $3,636.60

Firm A issued a $1,000,000 bond with a 20-year term at a discount. If the remaining amount of the discount on bonds payable is $100,000 after 10 years and firm A retires the bond at this point at 110 (or for cash of $1,100,000), then what is the loss/gain on this bond retirement?

Answers

Answer:

Loss of $200,000

Explanation:

Carrying value of bond = $1,000,000 - $100,000

Carrying value of bond = $900,000

Cash paid on bonds = $1,100,000

Loss on bond = Cash paid on bonds - Carrying value of bond

Loss on bond = $1,100,000 - $900,000

Loss on bond = $200,000

Which financial statement would include a listing of a companies assets

Answers

Answer:

Balance Sheet

Explanation:

In accounting, Balance sheet will show a complete listing of  assets, liabilities and  Equity of a company within a specific time period. (For most companies, the balance sheet will be made at each end of the year)

under the Assets segment, Balance sheet will specify several accounts arranged based on their liquidity. Cash usually put at the top of the list since it's considered as the most liquid assets.

People use balance sheet to give a general measurement on Company's financial health. If for example, they noticed that the liability is significantly larger than their assets, investors might feel discourage to invest in the company.

The Barrett Company had sales of $19,800, total costs of $10,900, depreciation expense of $2,100, interest expense of $1,250. Their tax rate is 40%. The firm's operating cash flow is:______.
a. $7,650.
b. $8,900.
c. $6,680.
d. $3,330.
e. $5,430.

Answers

Answer:

d $3,330

Explanation:

The firm's operating cash flow is computed as;

Sales - Costs - Depreciation expense = EBIT

EBIT = $19,800 - $10,900 - $2,100

= $6,800

EBT = EBIT - Interest expense

EBT = $6,800 - $1,250

EBT = $5,550

Firm's tax rate = 40% × $5,550= $2,220

Operating cash flow = $5,550 - $2,220

Operating cash flow = $3,330

Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in units) are planned for next year. *Three pounds of raw material are needed to produce each unit of finished product. If Paradise Corporation plans to sell 545,000 units during next year, the number of units it would have to manufacture during the year would be:________
a) 492,000 units
b) 545,000 units
c) 575,000 units
d) 515,000 units

Answers

Answer: d. 515,000 units

Explanation:

If they plan to sell 545,000 units then given those beginning and ending balances of finished goods, they will have to manufacture;

= Sales + Ending balance - Beginning balance

= 545,000 + 63,000 - 93,000

= 515,000 units

Watters Umbrella Corp. issued 15-year binds two years ago at a coupon rate of 6.2 percent. The bonds make semiannual payments. If these bonds currently sell for 98 percent of par value, what is the YTM?

Answers

Answer:

YTM = 6.42%

Explanation:

current market value = $1,000 x 98% = $980

n = (15 - 2) x 2 = 26

coupon = $1,000 x 6.2% x 1/2 = $31

face value = $1,000

YTM = [coupon + [(face value - market value)/n]} / [(face value + market value)/2]

YTM = [31 + [(1,000 - 980)/26]} / [(1,000 + 980)/2]

YTM = (31 + 0.77) / 990 = 31.77 / 990 = 0.03209 x 2 (annual yield) = 0.641818 = 6.42%

A “new product" can be new to the world, to the market, to the producer or seller, or some combination of these.

True or False​

Answers

The answer would be true

10,000 can be invested under two options: Option 1. Deposit the 10,000 into a fund earning an effective annual rate of i; or Option 2. Purchase an annuity-immediate with 24 level annual payments at an effective annual rate of 10%. The payments are deposited into a fund earning an effective annual rate of 5%. Both options produce the same accumulated value at the end of 24 years. Calculate i.

Answers

Answer:

I = 0.06894

Explanation:

The investment amount into 2 options is given as 10000

10000x(1+I)²⁴ is the accumulated value of option a

10000x0.10/(1-i)/1.1²⁴/0.05x1.05^24-1

= 49530.62522

To get I

(49530.62522/10000)^1/24-1

= 1.068995077 - 1

= 0.06894

Discarded materials ​

Answers

I’m confused lol? ??

A firm operated at 90% of capacity for the past year, during which fixed costs were $420,000, variable costs were 40% of sales, and sales were $1,000,000. Operating income was:____________.
a. $420,000
b. $980,000
c. $180,000
d. $1,080,000

Answers

Answer:

A

Explanation:

Based on the fixed and variable costs, as well as the sales amount, the operating income was C. $180,000.

What was the operating income?

This can be found as:

= Sales - Variable costs - Foxed costs

Solving gives:

= 1,000,000 - (40% x 1,000,000) -420,000

= 1,000,000 - 400,000 - 420,000

= $180,000

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If you earn 10% per year on your bank account, how long will it take an account with $105 to double to $210? Do not round intermediate celculations. Round your answer to 2 decimal places.) Number of years _________.

Answers

Answer:

n= 7.27 years

Explanation:

Giving the following information:

Interest rate= 10%

Future value (FV)= $210

Present value (PV)= $105

To calculate the number of years to double the investment, we need to use the following formula:

n= ln(FV/PV) / ln(1+i)  

n= ln(210/105) / ln(1.1)

n= 7.27 years

Suppose that 2 years after the issue date (as in Part a) interest rates fell to 8%. Suppose further that the interest rate remained at 8% for the next 8 years. What would happen to the price of the bonds over time

Answers

Answer:

the first part of the question is missing, so I looked fro a similar one:

Suppose Hillard Manufacturing sold an issue of bonds with a 10-year maturity, a $1,000 par value, a 10% coupon rate, and semiannual interest payments.

the market price of the bond after 2 years:

PV of face value = $1,000 / (1 + 4%)¹⁶ = $533.91

PV of coupon payment = $50 x 11.652 (PV annuity factor, 4%, 16 periods) = $582.60

market price = $1,116.51

the market price of the bond after 5 years:

PV of face value = $1,000 / (1 + 4%)⁶ = $790.31

PV of coupon payment = $50 x 5.2421 (PV annuity factor, 4%, 6 periods) = $262.11

market price = $1,052.42

the market price of the bond after 7 years:

PV of face value = $1,000 / (1 + 4%)² = $924.56

PV of coupon payment = $50 x 1.8861 (PV annuity factor, 4%, 2 periods) = $94.31

market price = $1,018.87

A firm is productively efficient when:__________.
A) it is producing its product or service at the lowest unit cost that it can
B) it is selling at the lowest price possible
C) it has the highest labor productivity that it can
D) it is making what its customers want

Answers

Answer:

Its is A

Explanation:

The formula for accounts receivable turnover is computed as _____ divided by average accounts receivable, net.

Answers

Answer:

revenue

Explanation:

Accounts receivable turnover is an example of activity ratios. It measures the efficiency by which accounts receivable are collected.

what is business ?please explain about it​

Answers

Answer: business can be defined as an organization dedicated to do commercial and professional activities.

Explanation:

The word business can also be defined as the activities and efforts that a person makes in order to produce money. To do this, the person creates products or sells services to obtain a reward.

Currently, many people are taking the line of entrepreneurship, where they put their own businesses and become their bosses. They themselves develop their model of how they are going to distribute and market the products or services they have so that they reach the population.

The business is something that comes from ancient times. Barter was a way of doing business since if a person was interested in something that another had, they proceeded to make an exchange.

A Reuter's article on March 14, 2012 reported that Somali pirates had decided to cut their ransom demands so as to avoid costly hostage maintenance and increase flow rate. The article says that on average the pirates were holding 30 ships hostage, and each ship was held for 150 days.How many ships on average are the pirates capturing each month? (Assume a month is 30 days)- 10 ships per month- 30 ships per month- 6 ships per month- 1/5 ships per month

Answers

Answer:

6 ships per month

Explanation:

30 ships are held for 150 days

[tex]30\ \text{ships}=150\ \text{days}[/tex]

[tex]1\ \text{day}=\dfrac{30}{150}\ \text{ships}[/tex]

[tex]1\ \text{day}=\dfrac{1}{5}\ \text{ships}[/tex]

[tex]30\ \text{days}=30\times \dfrac{1}{5}\ \text{ships}[/tex]

[tex]30\ \text{days}=6\ \text{ships}[/tex]

So, in a month 6 ships are captured.

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