Answer:
See below
Explanation:
1. Computation of cost of goods sold
Materials Price Variance
$6,500 F
Materials Quantity Variance
$10,200 U
Labor Rate Variance
$3,500 U
Labor Efficiency Variance
$4,400 F
Fixed Overhead budget variance
$2,500 F
Fixed Overhead volume variance
$12,000 F
Cost of goods sold
$11,700
2. Net operating statement
Sales[$153 × 10,000]
$1,530,000
Less: Cost of goods sold
Cost of goods sold at standard [$105 × 10,000]
$1,050,000
Cost of good sold adjusted
($11,700)
Variance adjustment Balance
$1,038,300
Gross profit
$491,700
Less selling and administrative expenses
($235,000)
Net operating income
$256,700
Two important group outcomes or consequences of the interactive
process that unfolds between a leader, follower, and the situation
include:
Answer:
task performance and group maintenance.
Explanation:
Leadership can be defined as a process which typically involves motivating, encouraging and inspiring employees working under an individual to be innovative and create positive changes that will foster growth and enhance the success of a business firm or company in the future.
This ultimately implies that, beyond an individual possessing the traits or qualities of a leader, leadership in itself is a process that revolves around the activities or happenings between the leader and those who he or she is leading, which are the followers. Thus, leadership is simply a continuous process and it's transactional in nature because it occurs between a leader and the followers.
A leader can be defined as an individual who is saddled with the responsibility of controlling, managing and maintaining a group of people under him or her.
Some types of power expressed by leaders are referent power, coercive power, etc.
Hence, two important group outcomes or consequences of the interactive process that unfolds between a leader, follower, and the situation include task performance and group maintenance.
Leaders are saddled with the responsibility of ensuring that the follower performs his or her duties or tasks as stated in the contract and to foster cohesion among the various team members.
Hull Company reported the following income statement information for the current year: Sales $ 423,000 Cost of goods sold: Beginning inventory $ 151,500 Cost of goods purchased 286,000 Cost of goods available for sale 437,500 Ending inventory 157,000 Cost of goods sold 280,500 Gross profit $ 142,500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $33,000. Given this information, the correct gross profit would be:
Answer:
$109,500
Explanation:
Calculation to determine the correct gross profit would be:
Sales $ 423,000
Less: Corrected Cost of goods sold:($313,500)
(280,500 + $33,000)
Gross Profit $109,500
Therefore the correct gross profit would be:$109,500
On August 5, 2021, Carla Vista Furniture shipped 30 dining sets on consignment to Furniture Outlet, Inc. The cost of each dining set was $420 each. The cost of shipping the dining sets amounted to $4300 and was paid for by Carla Vista Furniture. On December 30, 2021, the consignee reported the sale of 20 dining sets at $920 each. The consignee remitted payment for the amount due after deducting a 7% commission, advertising expense of $670, and installation and setup costs of $850. The amount cash received by Carla Vista furniture is
Answer:
$15,592
Explanation:
Calculation to determine what The amount of cash received by Carla Vista furniture is
Cash received =[(20 × $920)*(100%-7%)] - $670 - $850
Cash received=($18,400*93%)-$670-$850
Cash received=17,112-$670-$850
Cash received=$15,592
Therefore The amount of cash received by Carla Vista furniture is $15,592
While implementing an affirmative action plan, an employer is expected to do all of the following except:establish objectives that can be met by applying good faith efforts.set quotas for the underrepresented groups, and ensure they are met even if it is necessary to hire a less qualified candidate.make all employment decisions in a nondiscriminatory manner.ensure that hiring objectives do not establish a floor or a ceiling for employment of certain groups.
Answer:
set quotas for the underrepresented groups, and ensure they are met even if it is necessary to hire a less qualified candidate.
Explanation:
Business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Planning is a term used to describe the process of developing the organization's objectives and translating those into courses of action.
This ultimately implies that, planning is a strategic technique used by organizations to make an aggregate plan for its manufacturing (production) process typically ahead of time, in order to have an idea of the level of goods that are to be produced and what resources are required so as to reduce the total cost of production to its barest minimum.
While implementing an affirmative action plan, an employer is expected to do all of the following;
I. Establish objectives that can be met by applying good faith efforts.
II. Make all employment decisions in a nondiscriminatory manner.
III. Ensure that hiring objectives do not establish a floor or a ceiling for employment of certain groups.
At December 31, 2020, the available-for-sale debt portfolio for Blossom, Inc. is as follows.
Security Cost Fair Value Unrealized Gain (Loss)
A $17,900 $15,200 $(2,700)
B 11,000 15,000 4,000
C 24,000 26,500 2,500
Total $52,900 $56,700 3,800
Previous fair value adjustment balance—Dr. 400
Fair value adjustment—Dr. $3,400
On January 20, 2021, Blossom, Inc. sold security A for $15,300. The sale proceeds are net of brokerage fees. Blossom, Inc. reports net income in 2020 of $123,000 and in 2021 of $142,000. Total holding gains (including any realized holding gain or loss) equal $41,000 in 2021.
Prepare a statement of comprehensive income for 2020, starting with net income.
Prepare a statement of comprehensive income for 2021, starting with net income.
Answer:
a. Blossom Inc
Statement of Comprehensive Income
For the Year Ended December 31, 2020
Particulars Amount
Net income $123,000
Other comprehensive income:
Add: Unrealized holding gain $3,400
Comprehensive income $126,400
b. Blossom Inc
Statement of Comprehensive Income
For the Year Ended December 31, 2021
Particulars Amount
Net income $142,000
Other comprehensive income:
Total holding gains in 2021 $41,000
Add: Reclassification adjustment- $2,700
for loss included in net income $38,300
Comprehensive income $180,300
Note:
Particulars Amount
Net amount received from the sale of Security A $17,900
Less: Cost of Security A $15,200
Loss on the sale of Security A ($2,700)
A pharmaceutical company in Belgium decides to expand into additional markets. It conducts research and decides to focus on marketing and delivering its products to Hungary and the Czech Republic. In order to be successful, the company recognizes it must translate its marketing, product instructions, and packaging into the local languages. In addition, the company decides to partner with local advertising companies to make sure its marketing and advertising is customized to fit the preferences of the local markets. The pharmaceutical company has chosen to use which type of marketing strategy to expand globally?
a. centralization strat
b. localization strat
c. standardization strat
Answer:
C) standardization strategy
Explanation:
standardization strategy can be regarded as one whereby a business owner or firm give same treatment to the whole world as if it's just one market that have just small meaningful variation It's base on an assumption that needs of people can be met with a product.
A company making tires for bikes is concerned about the exact width of their cyclocross tires. The company has a lower specification limit of 19.930 mm and an upper specification limit of 20.070 mm. The standard deviation is 0.18 mm and the mean is 20.000 mm. b. The company now wants to reduce its defect probability and run a "six-sigma process." To what level would they have to reduce the standard deviation in the process to meet this target? (Round the answer to 5 decimal places.)
Answer:
Missing word "a. What is the process capability index for the process?"
a. Cpk = Min[USL-μ/3σ, μ-LSL/3σ]
Cpk = Min[(20.070-20)/(3*0.18) ,(20-19.930)/(3*0.18]
Cpk = Min[0.1296, 0.1296]
Hence, process capability index is 0.1296
b. 2 = Min[USL-μ/3σ, μ-LSL/3σ]
2 = Min[(20.070-20)/(3*σ) ,(20-19.930)/(3*σ]
2 = Min[(0.07/3*σ, 0.07/3*σ)]
= Min[0.07/6, 0.07/6]
σ = 0.07/6
σ = 0.0117
Hence, reduced standard deviation level is 0.0117
Assume that a company cannot determine the market value of equipment acquired by reference to a similar purchase for cash. Explain how the company determines the cost of equipment purchased by exchanging it for each of the following 3 items: Bonds having an established market price. Bonds that do not have an established market price. Common stock not having an established market price. Similar equipment having a determinable market value.
Solution :
Let us suppose that a company cannot predict the market value of an equipment that acquired by the reference to the similar purchase for the cash. Thus the company finds cost of purchased of the equipment by exchanging :
-- the market price of the bonds when they have an established price in the market.
-- the market price of the bonds when the common stocks does not have a established market price.
-- market price of the equipment when the similar kind of an equipment have a determinable value in the market.
Activity Expected Costs Expected Activity Handling materials $ 625,000 100,000 parts Inspecting product 900,000 1,500 batches Processing purchase orders 105,000 700 orders Paying suppliers 175,000 500 invoices Insuring the factory 300,000 40,000 square feet Designing packaging 75,000 2 models Required: 1. Compute a single plantwide overhead rate, assuming that the company assigns overhead based on 125,000 budgeted direct labor hours. 2. In January 2017, the Deluxe model required 2,500 direct labor hours and the basic model required 6,000 direct labor hours. Assign overhead costs to each model using the single plantwide overhead rate.
Answer and Explanation:
The computation is shown below:
1. Plant wide overhead rate = Budgeted Overheads ÷ Budgeted Activity.
where,
Budgeted Overheads :
Handling materials 625,000
Inspecting product 900,000
Processing purchase orders 105,000
Paying suppliers 175,000
Insuring the factory 300,000
Designing packaging 75,000
Total Cost 2,180,000
And, the budgeted activity is 125,000
So, Plant wide overhead rate is
= Budgeted Overheads ÷ Budgeted Activity.
= $2,180,000/125,000
= $17.44 per direct labor hour
Now Assignment of Overheads
As Deluxe model required 2,500 direct labor hours
So, Deluxe model = 2,500 × $17.44
= $43,600
As Basic model required 6,000 direct labor hours
So, Basic model = 6,000 × $17.44
= $104,640
Seth Erkenbeck, a recent college graduate, has just completed the basic format to be used in preparing the statement of cash flows (indirect method) for ATM Software Developers. All amounts are in thousands (000s).
ATM SOFTWARE DEVELOPERS Statement of Cash Flows For the year ended December 31, 2021
Cash Flows from Operating Activities
Net income
Adjustments to reconcile net income to net cash flows from operating activities:
Net cash flows from operating activities
Cash Flows from Investing Activities
Net cash flows from investing activities
Cash Flows from Financing Activities
Net cash flows from financing activities
Net increase (decrease) in cash $1,725
Cash at the beginning of the period 8,215
Cash at the end of the period $9,940
Listed below in random order are line items to be included in the statement of cash flows.
Cash received from the sale of land $8,590
Issuance of common stock 12,925
Depreciation expense 5,435
Increase in account receivable 4,030
Decrease in account payable 1,730
Issuance of long-term notes payable 16,345
Purchase of equipment 39,715
Decrease in inventory 1,445
Decrease in prepaid rent 875
Payment of divivdends 6,310
Net income 11,800
Purchase of treasury stock 2,585
Required:
Prepare the statement of cash flows for ATM software developers using the indirect method. List cash outflows and any decrease in cash as negative amounts. Enter the answer in thousands.
Answer:
See below
Explanation:
Statement of cash flow for ATM SOFTWARE
• The figures seems to be in thousands already.
Cash flow from operating activities
Net income
$11,800
Increase in Account receivable
($4,030)
Decrease in Account payable
($1,730)
Depreciation expense
$5,435
Decrease in inventory
$1,445
Decrease in prepaid rent
$875
Net cash flow from operating activities
$13,795
Cash flow from investing activities
Sale of land
$8,590
Purchase of equipment
($39,715 )
Net cash flow from financing activities
($31,125)
Cash flow from financing activities
Issuance of stock
$12,925
Long term note payable
$16,345
Purchase of treasury stock
($2,585 )
Payments of dividends
($6,310)
Net cash flow from financing activities
$20,375
Net increase in cash
$1,725
Cash at the beginning
$8,215
Cash at the end
$9,940
these are the choices fill in the blanks.
asset backed security.
bank run
credit default swap.
capital
bond.
credit
common stock.
credit crunch
mortgage-backed securities.
debt
mutual fund.
default
option.
equity
futures contract.
foreclosure
subprime mortgage.
leverage
central bank.
liquidity
commercial bank.
liquidity risk
hedge fund.
moral hazard
investment bank.
mortgage
fannie mae/ freddie mac.
nationalization
federal deposit insurance corporation.
regulation
federal reserve system.
return
private equity fund
risk
securitization
Since EBIT is not necessarily indicative of cash flow, many financial analysts adjust the formulation by: a. adding unpaid taxes to EBIT in the TIE formula b. adding unpaid taxes and interest to EBIT in the formula c. adding depreciation to EBIT in the TIE formula d. adding unpaid taxes, interest and depreciation to EBIT in the TIE formula
Answer: c. adding depreciation to EBIT in the TIE formula
Explanation:
The Times Interest Earned Ratio is used to measure the ease by which a company can pay its interest charges using its earnings before tax.
As depreciation is a non-cash expense, the amount apportioned to depreciation can be used when paying for interest so adding it back to the EBIT ensures that the cash resources of the company are included in the analysis of whether a company can pay back debt.
On September 12, Vander Company sold merchandise in the amount of $3,950 to Jepson Company, with credit terms of 2/10, n/30. The cost of the items sold is $2,725. Vander uses the periodic inventory system and the gross method of accounting for sales. On September 14, Jepson returns some of the merchandise. The selling price of the merchandise is $340 and the cost of the merchandise returned is $240. Jepson pays the invoice on September 18, and takes the appropriate discount. The journal entry that Vander makes on September 18 is:
Answer:
Date Account Debit Credit
September 18 Cash $3,537.80
Sales discount $ 72.20
Accounts Receivable $3,610
Explanation:
Net merchandise sold = 3,950 - 340
= $3,610
Sales discount is 2% if paid in 10 days which Jepson did.
= 2% * 3,610
= $72.20
Cash = Net sales - discount
= 3,610 - 72.20
= $3,537.80
Paul Company had 100,000 shares of common stock outstanding on January 1, 2021. On September 30, 2021, Paul sold 40,000 shares of common stock for cash. Paul also had 6,000 shares of convertible preferred stock outstanding throughout 2021. The preferred stock is $100 par, 6%, and is convertible into 3 shares of common for each share of preferred. Paul also had 420, 8%, convertible bonds outstanding throughout 2021. Each $1,000 bond is convertible into 30 shares of common stock. The bonds sold originally at face value. Reported net income for 2021 was $270,000 with a 40% tax rate. Common shareholders received $1.20 per share dividends after preferred dividends were paid in 2021.
Required: Compute basic and diluted earnings per share for 2021. (Round your answers to 2 decimal places.)
Answer:
Basic EPS = [$270,000 - (6% * $100 * 6,000)] / [100,000 + 40,000 * 3/12]
Basic EPS = [$270,000 - $36,000] / 35,000
Basic EPS = $234,000 / 35,000
Basic EPS = 6.685714285714286
Basic EPS = 6.69
Diluted EPS = [$270,000 + ($420,00*8%*60%)] / [100000 + 40,000 * 3/12 + (420*30) + (6,000*3)]
Diluted EPS = [$270,000 + $2,016] / [35,000 + 12600 + 18,000]
Diluted EPS = $272,016 / 65,600
Diluted EPS = 4.146585365853659
Diluted EPS = $4.15
Sheffield Corp. assigned $1601000 of accounts receivable to Pharoah Company as security for a loan of $1344000. Pharoah charged a 2% commission on the amount of the loan; the interest rate on the note was 9%. During the first month, Sheffield collected $404000 on assigned accounts after deducting $1480 of discounts. Sheffield accepted returns worth $5400 and wrote off assigned accounts totaling $11910. The amount of cash Sheffield received from Pharoah at the time of the assignment was
Answer:
$1,317,120
Explanation:
Cash received by Sheffield Corporation at the time of assignment = Amount borrowed - Commission paid
= $1,344,000 - ($1,344,000 * 2%)
= $1,344,000 - $26,880
= $1,317,120
So, the amount of cash Sheffield received from Pharoah at the time of the assignment was $1,317,120
Which term refers to the interest the Federal Reserve Bank (Fed) charges banks for loans? open‑market sale fractional banking reserve ratio money multiplier discount rate Select the charge the Fed levies on banks borrowing funds that would result in the smallest increase in the money supply. two percentage points above the private level one percentage point above the private level the same as the private level one percentage point below the private level two percentage points below the private level
Answer:
Which term refers to the interest the Federal Reserve Bank (Fed) charges banks for loans?
discount ratethe discount rate is the interest rate that the Federal Reserve System charges banks for the loans it makes. The overnight rate or the federal funds rate is even lower, but it lasts a few hours only.
Select the charge the Fed levies on banks borrowing funds that would result in the smallest increase in the money supply.
two percentage points above the private levelthe higher the interest rate, the lower the increase in the money supply.
Categorize the statements according to whether they promote economic growth or inhibit economic growth. Promote economic growth Inhibit economic growth clear laws regarding the transfer of property from one person to another the creation of a price floor on sugar the enforcement of trademarks A nation's central bank declares it will print money to pay for government expenditure. the development of regulations that make creating small businesses difficult a corrupt government the use of competitive markets to allocate goods and services
Answer:
Categorization of Statements
Promotion of Economic Growth:
- clear laws regarding the transfer of property from one person to another
- the enforcement of trademarks
- A nation's central bank declares it will print money to pay for government expenditure.
- the use of competitive markets to allocate goods and services
Inhibition of Economic Growth:
- the creation of a price floor on sugar
- the development of regulations that make creating small businesses difficult
- a corrupt government
Explanation:
Economic growth can be increased by the reduction of the borrowing costs and interest rates and encouraging consumer spending and business investments.
The factors that inhibit economic growth also create market inefficiencies. They include lack of basic infrastructure, healthcare, and education, capital flight and economic uncertainties, ageing population, political instability, and rampant corruption.
Mark Brandt, an employee of Mueller Corp., earned 3 weeks of compensated vacation time during the current year, but only took 2 weeks of vacation. His employer permits that 1 week of vacation can be carried forward to the following year. Mark fully intends to remain at his current employer and plans to take his vacation during the following year. His current weekly salary is $2,000. Mueller Corp. expects to grant a general salary increase of 5% effective at the beginning of the next year. What amount should Mueller accrue during the current year relating to Mark Brandt's carried-forward vacation
Answer:
Mark Brandt of Mueller Corporation
The amount that Mueller should accrue during the current year relating to Mark Brandt's carried-forward vacation is:
= $2,100
Explanation:
a) Data and Calculations:
Current weekly salary = $2,000
Expected general salary increase = 5%
The amount that Mueller should accrue during the current year relating to Mark Brandt's carried-forward vacation is:
= $2,000 * 1.05
= $2,100
b) $2,100 is the amount that will be paid in cash for cash settlement of Mark Brandt's carried-forward vacation, assuming he does not take it the following year.
Jenny, who is married and the mother of three, is 25 years old and expects to work until 70. She earns $45,000 per year. Jenny expects inflation to be 3% over her working life, and the appropriate risk-free discount rate is 5%. Her personal consumption is equal to 25% of her after-tax earnings, and her combined federal and state marginal tax bracket is 15%. What is the amount of life insurance necessary for Jenny using the Human Life Value method
Answer:
$855,903.20
Explanation:
Real discounting rate=> i= [i'-f]/[1+f]. Where i is the real interest rate. i' is the nominal interest rate which is given as 5% and f is the rate of inflation
i = (5%-3%)/1+3%)
i = 2/1.3
i = 1.94%
Her after tax earnings = 45,000*(1-0.15) = $38,250
Personal consumption = 25% of this, 38,250*0.75 = $28,688.
We are discounting her earnings back 45 years at 1.94%. The equation will be: 28,688 * {1-(1+0.01940)^-45} / {0.01940}
= 28,688 * {1 - 0.42120322099] / 0.01940
= 28,688 * 29.83488551597938
= 855903.1956824165
= $855,903.20
So, the amount of life insurance necessary for Jenny using the Human Life Value method is $855,903.20
You just received a bonus at your job of $4,000 which you decide to put in a savings account at the local bank. Assume that banks lend out all excess reserves and there are no leaks in the banking system. That is, all money lent by banks get deposited in the banking system. Round your answers to the nearest dollar.The reserve requirement is 18%, how much will your deposit increase the total value of checkable deposits?If the reserve requirement is 7%, how much will your deposit increase the total value of checkable deposits?Decreasing the reserve requirement _____ the money supply.a. Decreasesb. Increases
Answer:
$22,222.22
$57,142.86
INCREASES
Explanation:
Reserve requirement is the portion of deposit received by banks that the central bank requires to be kept as deposit.
If $4000 is deposited and reserve requirement is 18%
reserves would increase by $4000 x 0.18 = 4720
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = amount deposited / reserve requirement
$4000 / 0.18 = $22,222.22
$4000 / 0.07 = $57,142.86
It can be seen that the higher the reserve requirement, the lower the increase in the total value of checkable deposit
You have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it immediately after the previous owner received a semiannual interest payment. The bond rate is 6.6% per year payable semiannually. You plan to hold the bond for 7 years, selling the bond immediately after you receive the interest payment. If your desired nominal yield is 10% per year compounded semiannually, what will be your minimum selling price for the bond
Answer:
$12,341.80
Explanation:
The computation of the minimum selling price for the bond is shown below:
Semi-annual = 10% ÷ 2 = 5%
Semi-annual compounding periods = 7 × 2 = 14
Semi-annual coupon (for 10 bonds) = $10,000 × 6.6% × (1 ÷ 2) = $330
as we know that
Here We assume the selling price be S
The Present worth of the bond = PW of future cash flows
$9,500 = $330 × P/A(5%, 14) + S × P/F(5%, 14)
$9,500 = $330 × 9.898641 + S × 0.505068
$9,500 = $3,266.55 + S × 0.505068
S × 0.505068 = $6,233.45
= $12,341.80
Kevin O’Leary suggests that Jenn and Kelley decrease the price of their product by 50% and sell 10 times as many. That is, he predicts if they drop the price of their product from $40 to $20 they will increase their quantity demanded from 6,000 to 60,000. Calculate the price elasticity of demand for Pursecases using the midpoint formula from this information
Answer:
The price elasticity of demand for Pursecases using the midpoint formula from this information is -2.45.
Explanation:
From the question, we have:
New quantity demanded = 60,000
Old quantity demanded = 6,000
New price = $20
Old price = $40
The formula for calculating the price elasticity of demand is as follows:
Price elasticity of demand = Percentage change in quantity demanded /
Percentage change in price ................ (1)
Where, based on the midpoint formula, we have:
Percentage change in quantity demanded = {(New quantity demanded - Old
quantity demanded) / [(New quantity demanded + Old quantity demanded) /
2]} * 100 = {(60,000 - 6,000) / [(60,000 + 6,000) / 2]} * 100 = 163.636363636364%
Percentage change in price = {(New price - Old price) / [(New price + Old
price) / 2]} * 100 = {(20 - 40) / [(20 + 40) / 2]} * 100 = -66.6666666666667%
Substituting the values into equation (1), we have:
Price elasticity of demand = 163.636363636364% / -66.6666666666667% = -2.45454545454546
Rounding to 2 decimal places, we have:
Price elasticity of demand = -2.45
Therefore, the price elasticity of demand for Pursecases using the midpoint formula from this information is -2.45.
When The price elasticity of demand for Purchase then we are using the midpoint formula from this information is: -2.45.
Elasticity of demandAccording to the Elasticity of demand, are refers to the degree within the change in demand and also when there is a little change in another economic factor, like price or income.
Then New quantity demanded is = 60,000Old quantity demanded is = 6,000
After that New price are = $20
Then Old price is = $40
When The Price elasticity of demand is = Percentage change in quantity demanded / percentage change in price are
Percentage change in quantity demanded = * 100
= * 100
= 163.636363636364%[/tex]
Percentage change in price
= * 100
= * 100 = -66.6666666666667%[/tex]
Then Substituting the values into equation (1), we have:
Price elasticity of demand is =163.636363636364% [tex]-66.6666666666667% = -2.45454545454546[/tex}
Then the Price elasticity of demand is = -2.45
Thus, the value elasticity of demand for Purchase using the midpoint formula from this information is -2.45.
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During May, Salinger Company accumulated 740 hours of direct labor costs on Job 200 and 900 hours on Job 305. The total direct labor was incurred at a rate of $20 per direct labor hour for Job 200 and $23 per direct labor hour for Job 305.Journalize the entry to record the flow of labor costs into production during May. If an amount box does not require an entry, leave it blank.
Answer:
May
Dr Work in Process $35,500
Cr Wages Payable $35,500
Explanation:
Preparation of the Journal entry to record the flow of labor costs into production during May
Based on the information given the Journal entry to record the flow of labor costs into production during May will be :
May
Dr Work in Process $35,500
Cr Wages Payable $35,500
Calculated as:
Labor costs = (740*20)+(900*23)
Labor costs=14,800+20,700
Labor costs=$35,500
The definition of Not Utilizing Staff Talent in the Eight Wastes refers to a. making more than the customer wants or more than you have demand for b. idle time when resources are not being used c. a product that is less than perfect d. not encouraging employee ideas or undermining their efforts e. both b and d
Answer:
d. not encouraging employee ideas or undermining their efforts.
Explanation:
Human resources management (HRM) can be defined as an art of managing, controlling and improving the number of people (employees or workers), functions, activities which are being used effectively and efficiently by an organization.
Hence, human resources managers are saddled with the responsibility of recruiting, managing and improving the welfare and working conditions of the employees working in an organization.
The definition of Not Utilizing Staff Talent in the Eight Wastes refers to not encouraging employee ideas or undermining their efforts.
Ann lives in Princeton, New Jersey, and commutes by train each day to her job in New York City (20 round trips per month). When the price of a round trip goes up from $10 to $20, she responds by consuming exactly the same number of trips as before, while spending $200 per month less on restaurant meals. Does the fact that her quantity of train travel is completely unresponsive to the price increase imply that Ann is not a rational consumer
Answer:
Yes
Explanation:
The rational rule of consumption is to consume more today if the: marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future. price of consumption today exceeds the dollar-plus-interest in the future. marginal benefit of a dollar of consumption today is less than the marginal benefit of spending a dollar plus interest in the future. real interest rate in the future is expected to be higher than the real interest rate today.
Answer:
marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future.
Explanation:
A rational consumer should consume more today when the marginal benefit of a dollar of consumption today is greater than (or equal to) the marginal benefit of spending a dollar plus interest in the future.
A rational consumer should continue to consume up until the point where the marginal benefit of a dollar of consumption today is equal to the marginal benefit of spending a dollar plus interest in the future
If the marginal benefit of a dollar of consumption today is less than the marginal benefit of spending a dollar plus interest in the future, a rational consumer should postpone consumption until the future.
Crowding-out is the notion that:_________
a. Since tax revenues vary directly with GDP, a rise in the level of GDP will increase the budget surplus and limit expansion
b. Deficit financing will increase the demand for money, increase the interest rate, and reduce the level of investment spending in the economy
c. The standardized budget is the best indicator of whether a budget deficit crowds out investment
d. The actual budget is the best indicator of whether a budget deficit crowds out saving
Answer:
B
Explanation:
The theory of crowding out is that as government spending and borrowing increases, the demand for money would increase. This would lead to an increase in interest rate. As a result, the level of investment spending would decline. The theory submits that increased government spending would drive down private spending
Which of the following choices represents two consumers?
A grass and grasshopper
B.rabbit and dog
C. mushroom and frog
D.turtle and flower
I need help ASAP
Answer:
Option B
Hope it helps..
The choice that represents two types of customers is B.rabbit and dog.
What kind of customers are rabbits and dogs?Rabbits are a type of customer that will not pay very much for the goods they buy. They prefer cheap things.
Dogs on the other hand, are easier to negotiate with to make profits because they usually accept a price as it is.
Find out more on types of customers at https://brainly.com/question/24803497.
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Grant Industries, a manufacturer of electronic parts, has recently received an invitation to bid on a special order for 20,500 units of one of its most popular products. Grant currently manufactures 41,000 units of this product in its Loveland, Ohio, plant. The plant is operating at 50% capacity. There will be no marketing costs on the special order. The sales manager of Grant wants to set the bid at $13 because she is sure that Grant will get the business at that price. Others on the executive committee of the firm object, saying that Grant would lose money on the special order at that price.
Units 41,000 61,500
Manufacturing costs:
Direct materials $123,000 $184,500
Direct labor 164,000 246,000
Factory overhead 328,000 430,500
Total manufacturing costs$615,000 $861,000
Unit cost $15 $14
Required:
1. What is the relevant cost per unit and the bid price?
2. What would the total opportunity cost be if by accepting the special order the company lost sales of 6,500 units to its regular customers?
Answer:
Missing word "What would the total opportunity cost be if by accepting the special order the company lost sales of 6,500 units to its regular customers? Assume the above facts plus a normal selling price of $24 per unit."
Variable factory overhead per unit = (430,500 - 328,000) / 20,500 = $5
Direct materials per unit = $123,000 / 41,000 = $3
Direct labor per unit = 164,000 / 41,000 = $4
1. Relevant cost per unit = Direct materials per unit + Direct labor per unit + Variable factory overhead
Relevant cost per unit = $5 + $4 + $3
Relevant cost per unit = $12
So, the bid price should be above $10 per unit
2. Total opportunity cost would be the total contribution margin lost for the lost sales to the regular customer
Total opportunity cost = Loss of regular sales revenue - Total relevant cost for lost sales
Total opportunity cost = (6,500*$24) - (6,500*$12)
Total opportunity cost = $156,000 - $78,000
Total opportunity cost = $78,000
1. The relevant cost per unit for Grant Industries is $7.00 ($123,000 + $164,000)/41,000 or ($184,500 + $246,000)/61,500.
2. The total opportunity cost of accepting the special order when the company lost sales of 6,500 units from its regular customers is $12,500.
What are the relevant costs and opportunity costs?The relevant costs describe the avoidable costs that could be stopped if a decision is taken.
For example, if Grant Industries decides to take the special order, the relevant decision-making cost is $7 per unit and not $14 per unit.
The opportunity costs are costs that are not incurred based on taking an alternative decision. It also describes the lost revenue when some sales are lost for the special order.
For example, the total opportunity costs incurred by Grant Industries for taking the special order instead of attending to the regular customers with 6,500 units demand is $12,500.
Data and Calculations:Special order = 20,500 units
Current production = 41,000 units
Current operational capacity = 50%
Total capacity = 82,000 (41,000/50%)
Bid price = $13 per unit
New production based on special order = 61,500 (41,000 + 20,500)
Production Data Per Unit Per Bid
Units 41,000 61,500
Manufacturing costs:
Direct materials $123,000 $184,500
Direct labor 164,000 246,000
Factory overhead 328,000 430,500
Total manufacturing costs $615,000 $861,000
Unit cost $15 $14
Question 2 Completion:Assume the above facts plus a normal selling price of $24 per unit."
The opportunity cost of lost sales:Lost sales units = 6,500
Contribution per unit = $17 ($24 - $7)
Total contribution margin = $110,500 ($6,500 x $17)
Contribution margin from special order = $123,000 ($13 - $7 x 20,500)
Thus, the opportunity cost of lost sales is $12,500 ($123,000 - $110,500).
Learn more about relevant and opportunity costs at https://brainly.com/question/14184614 and https://brainly.com/question/8846809
Pension data for David Emerson Enterprises include the following:_______.
($ in millions)
Discount rate, 12%
Projected benefit obligation, January 1 $ 350
Projected benefit obligation, December 31 485
Accumulated benefit obligation, January 1 320
Accumulated benefit obligation, December 31 435
Cash contributions to pension fund, December 31 170
Benefit payments to retirees, December 31 58
Required:
Assuming no change in actuarial assumptions and estimates, determine the service cost component of pension expense for the year ended December 31.
Service cost million
Answer:
$151 million
Explanation:
Calculation to determine the service cost component of pension expense for the year ended December 31.
Projected benefit obligation, December 31 $485 million
Add Benefit payments to retirees, December 31 $58 million
Less Interest cost ($42 million)
(350*12%)
Less Projected benefit obligation, January 1 ($350 million)
Service cost $151 million
Therefore the service cost component of pension expense for the year ended December 31 will be $151 million