Answer:
Saving = National Income - Consumption - Taxes
Explanation:
Savings are the part of income that is not spent or paid in taxes. So it can be calculated by subtraction consumption from the national income.
National Income (Y) = C+ T + S
Therefore,
S= Y - C - T
That is the part of income that is not spent or paid in taxes is called savings.
National Income Consumption Taxes Savings
$11,400 $7,500 $800 $3,100
$11,800 $7,800 $800 $3,200
$12,200 $8,100 $800 $3,300
$12,600 $8,400 $800 $3,400
Special Order Poppy has received a special order for 1,000 units of its product at a special price of $125. The product currently sells 18,000 units for $150 and has the following manufacturing costs:
Per unit Direct materials $45
Direct labor 30
Variable manufacturing overhead 35
Fixed manufacturing overhead 25
Unit cost $135
Assume that Poppy has sufficient capacity to fill the order without harming normal production and sales.
a. If Poppy accepts the order, what effect will the order have on the company’s short-term profit?
b. If Poppy accepts the order and fills it completely, what effect will the order have on the company’s short-term profit?
Answer:
Results are below.
Explanation:
1) Because it is a special offer, and there is unused capacity, we will not take into account the fixed costs:
Effect on income= 1,000*125 - 1,000*(45 + 30 + 35)
Effect on income= $15,000
2) Now, the company doesn't have unused capacity. It only has 500 units in excess. We have to take into account the fixed costs and the original selling price of the units.
Effect on income= 1,000*125 - 1,000*(45 + 30 + 35) - 500*(25 + 25)
Effect on income= -$10,000
The competitive test that a business plan must pass to attract financing from lenders and investors involves proving ________. Group of answer choices that the business venture will provide lenders and investors a high probability of repayment or an attractive rate of return that the company can gain a competitive advantage over its key competitors that a market for the company's product or service actually does exist and that the company can actually build it for the cost estimates included in the plan that the industry in which the business will compete is growing faster than the overall economy and has room for more competitors
Answer:
that the company can gain a competitive advantage over its key competitors
Explanation:
Competitive Testing refers to a tool that is used to analyze various products and services from the perspective of the user.
The competitive test that a business plan must pass to attract financing from lenders and investors involves proving that the company can gain a competitive advantage over its key competitors.
Albertson Fabricators has established the following labor standards for a particular product: Standard labor-hours per unit of output 8.7 hours Standard labor rate $15.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 8,600 hours Actual total labor cost $131,580 Actual output 850 units What is the labor rate variance for the month
Answer:
the labor rate variance is $2,580 unfavorable
Explanation:
The computation of the labor rate variance is shown below:
= Actual labor cost - (standard rate × actual hours)
= $131,580 - ($15.60 × 8,600 hours)
= $131,580 - $134,160
= $2,580 unfavorable
Hence, the labor rate variance is $2,580 unfavorable
On December 1, Year 1, Bradley Corporation incurs a 15-year $200,000 mortgage liability in conjunction with the acquisition of an office building. This mortgage is payable in monthly installments of $2,400, which include interest computed at the rate of 12% per year. The first monthly payment is made on December 31, Year 1.
How much of the first payment made on December 31, Year 1, represents interest expense?
a 2400
b 400
c 2304
d 2000
Answer:
d 2000
Explanation:
The computation of the interest payment made is shown below:
Interest expense is
= Mortgage liability × rate of interest × given months ÷ total months
= ($200,000 × 12%) × 1 ÷ 12
= $24,000 × 1 ÷ 12
= $2,000
Hence, the correct option is d.
Fundamental analysis shows that stock in Garske Software Corporation has a present value that is higher than its price. a. This stock is undervalued; you should consider adding it to your portfolio. b. This stock is undervalued; you shouldn't consider adding it to your portfolio. c. This stock is overvalued; you should consider adding it to your portfolio. d. This stock is overvalued; you shouldn't consider adding it to your portfolio.
Answer: a. This stock is undervalued; you should consider adding it to your portfolio.
Explanation:
Since, we are informed that the stock in Garske Software Corporation has a present value that is higher than its price, this implies that the value of the stock in Garske Software is higher than the price, it means the stock is undervalued and it should be considered adding to the portfolio.
Therefore, the correct option is A
The financial statement columns of the worksheet for Booer Company as of December 31, 2021 are as follows:
BOOER COMPANY Worksheet For the Year Ended December 31, 2021
Income Statement Balance Sheet
Accounts Dr. Cr. Dr. Cr.
Cash 8,000
Accounts Receivable 26,000
Supplies 4,500
Prepaid Insurance 7,000
Equipment 41,000
Accumulated Depreciation—Equipment 4,800
Patents 7,500
Accounts Payable 22,200
Notes Payable (due 2023) 20,000
Common Stock 30,000
Retained Earnings 13,300
Dividends 4,200
Service Revenue 26,400
Salaries and Wages Expense 5,200
Depreciation Expense 4,800
Insurance Expense 5,000
Interest Expense 3,500
Totals 18,500 26,400 98,200 90,300
Net Income 7,900
7,900 26,400 26,400 98,200
Required:
Prepare a classified balance sheet for Booer Company.
Answer:
See below
Explanation:
Classified balance sheet for Booer Company as of 31, December 2021
Fixed assets
Equipment
$41,000
Less:
Accumulated depreciation
($4,800)
NBV
$26,200
Current assets
Cash
$8,000
Accounts receivables
$26,000
Supplies
$4,500
Prepaid insurance
$7,000
Patents
$7,500
Total assets $26,200 + $53,000 = $79,200
Current liabilities
Accounts payable
$22,200
Notes payable
$20,000
Financed by;
Common stock
$30,000
Net income
$7,900
Total liabilities $42,200 + $37,900 = $80,100
Identify future taxable amounts and future deductible amounts.
Listed below are 10 causes of temporary differences. For each temporary difference, indicate (by letter) whether it will create future deductible amounts (D) or future taxable amounts (T)
Temporary Difference
1. Accrual of loss contingency; tax-deductible when paid.
2. Newspaper subscriptions; taxable when cash is received, recognized for financial reporting when the performance obligation is satisfied.
3. Prepaid rent; tax-deductible when paid.
4. Accrued bond interest expense; tax-deductible when paid.
5. Prepaid insurance; tax-deductible when paid.
6. Unrealized loss from recording investments at fair value; tax-deductible when investments are sold.
7. Warranty expense; estimated for financial reporting when products are sold; deducted for tax purposes when paid.
8. Advance rent receipts on an operating lease as the lessor; taxable when received.
9. Straight-line depreciation for financial reporting; accelerated depreciation for tax purposes.
10. Accrued expense for employee vacation days not yet taken; tax deductible when employee takes vacation in future.
Answer:
1. Accrual of loss contingency; tax-deductible when paid
Identification: Deductible amounts (D)
2. Newspaper subscriptions; taxable when cash is received, recognized for financial reporting when the performance obligation is satisfied.
Identification: Deductible amounts (D)
3. Prepaid rent; tax-deductible when paid
Identification: Future taxable amounts (T)
4. Accrued bond interest expense; tax-deductible when paid
Identification: Deductible amounts (D)
5. Prepaid insurance; tax-deductible when paid
Identification: Future taxable amounts (T)
6. Unrealized loss from recording investments at fair value; tax-deductible when investments are sold
Identification: Deductible amounts (D)
7. Warranty expense; estimated for financial reporting when products are sold; deducted for tax purposes when paid
Identification: Deductible amounts (D)
8. Advance rent receipts on an operating lease as the lessor; taxable when received
Identification: Deductible amounts (D)
9. Straight-line depreciation for financial reporting; accelerated depreciation for tax purposes
Identification: Future taxable amounts (T)
10. Accrued expense for employee vacation days not yet taken; tax deductible when employee takes vacation in future
Identification: Deductible amounts (D)
Before year-end adjusting entries, Vaughn Manufacturing's account balances at December 31, 2020, for accounts receivable and the related allowance for uncollectible accounts were $1570000 and $87300, respectively. An aging of accounts receivable indicated that $129000 of the December 31 receivables are expected to be uncollectible. The accounts receivable amount expected to be collected after adjustment is
Answer: $1,441,000
Explanation:
The accounts receivable amount expected to be collected after adjustment will be calculated as the difference between the accounts receivable at December 31st and the expected uncollectibles. This will be:
= $1570000 - $12900
= $1,441,000
Therefore, the answer is $1,441,000
Compute the weight of common equity that should be used in the firm's WACC calculation if the market value of the firm's debt is $62 million, the market value of the firm's preferred stock is $7 million and the market value of the firm's common equity is $111 million. Enter your answer as a decimal (i.e. 0.54)
Answer:
0.62 or 62 %
Explanation:
Weight of common equity = Market Value of Equity ÷ Total Market Value of Sources of Finance
where,
Market Value of Equity = $111 million
Total Market Value of Sources of Finance = $62 million + $7 million + $111 million = $180 million
therefore,
Weight of common equity = $111 million ÷ $180 million
= 0.62 or 62 %
Conclusion
the weight of common equity that should be 0.62 or 62 %
Inventories March 1 March 31 Materials $235,200 $216,270 Work in process 488,200 571,640 Finished goods 656,550 689,800 Direct labor $3,920,000 Materials purchased during March 2,986,140 Factory overhead incurred during March: Indirect labor 358,400 Machinery depreciation 235,200 Heat, light, and power 196,000 Supplies 39,080 Property taxes 33,590 Miscellaneous costs 51,190 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Job 306
Job 307
Job 308
Balances on March 31
Direct materials
$
29,000
$
44,000
Direct labor
25,000
16,000
Applied overhead
12,500
8,000
Costs during April
Direct materials
130,000
210,000
$
120,000
Direct labor
100,000
154,000
104,000
Applied overhead
?
?
?
Status on April 30
Finished (sold)
Finished (unsold)
In process
1. Determine the total of each production cost incurred for April (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from March 31).
2. Prepare journal entries
a. Materials purchases (on credit).
b. Direct materials used in production.
c. Direct labor paid and assigned to Work in Process Inventory.
d. Indirect labor paid and assigned to Factory Overhead.
e. Overhead costs applied to Work in Process Inventory.
f. Actual overhead costs incurred, including indirect materials. (Factory rent and utilities are paid in cash.)
g. Transfer of Jobs 306 and 307 to Finished Goods Inventory.
h. Cost of goods sold for Job 306.
i. Revenue from the sale of Job 306.
j. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (The amount is not material.)
3. Prepare a schedule of cost of goods manufactured.
4. Compute Gross Profit
5. Show how to present the inventories on the April 30 balance sheet (Raw Materials, Work in progress, Finished Goods, and Total )
Answer:
dthidfhifdhxfihifxhifxjhsdhjrshjxfiusfhidfhjxf
project water has an initial cost of 639,700 and projected cash flow of 288,000 319,000 and 165,000 for years 1 through 3 respectevely project aqua has an initial cost of 411,200 and projected cash flows of 186,000 178,000 and 145,000 for years 1 through 3 respectevely what is the incremental IRR of these two mutually exclusive project
Answer:
IRR = 8.77%
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
IRR can be calculated with a financial calculator
Incremental IRR can be determined by subtracting the cash flows of the project with the smaller cost from the cash flows of the project with the higher initial cost
Incremental cash flows
Cash flow in year 0 = 639,700 - 411,200 = -228,500
Cash flow in year 1 = 288,000 - 186,000 = 102,000
Cash flow in year 2 = 319,000 - 178,000 = 141,000
Cash flow in year 3 = 165,000 - 145,000 = 20,000
IRR = 8.77%
To find the IRR using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. After inputting all the cash flows, press the IRR button and then press the compute button.
3. Press compute
Which of the following methods would be most appropriate for attracting
attention to an endcap display?
O A. Creating a realistic scene to tell a story
B. Grouping together items of the same color
O C. Using awnings to brighten the display's appearance
D. Setting up a small stand-alone structure
Answer:
B. Grouping together items of the same color
Explanation:
Grouping together items of the same color. of the following methods would be most appropriate for attracting attention to an endcap display.
What is attention?The behavioral and cognitive process of selectively focusing on a specific piece of information—whether it be regarded as subjective or objective—while disregarding other information that can be perceived. The action of paying attention helps to focus all of the senses, including sight, hearing, and smell. It might concentrate on pertinent data on the radio network,
With grouping, you may move, rotate, flip, and resize all shapes and objects simultaneously as if they were a single shape or object. Additionally, you can modify all of the features of a set of forms at once, such as adding an image effect or shape fill.
It is called categorization to group things based on shared characteristics. The study of classification is known as taxonomy. Scientists classify creatures into groups using a variety of forms of data. Levels are used to arrange the groups.
Therefore, Thus, option (B) is correct.
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Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following:
Manufacturing overhead costs. . . . . . . . $640,000
Direct labor cost. . . . . . . . . . . . . . . . . . . $1,600,000
Machine hours. . . . . . . . . . . . . . . . . . . . . 80,000
At the end of the year, the company had actually incurred the following:
Direct labor cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,190,000
Depreciation on manufacturing plant and
equipment. . . . . . . . . . . . . . . . . . . . . . . . $490,000
Property taxes on plant. . . . . . . . . . . . . . . . . . . . . . $19,500
Sales salaries. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $24,000
Delivery drivers' wages. . . . . . . . . . . . . . . . . . . . . . $16,500
Plant janitors' wages. . . . . . . . . . . . . . . . . . . . . . . . $8,500
Machine hours. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56,000 hours
Floral's accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually$400,000 not the $490,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was$570,000 The manufacturing overhead allocated to jobs was$448,000
Requirement:
Prepare the journal entry (entries) to record manufacturing overhead costs incurred
Explanation:
Metal Foundry uses a predetermined manufacturing overhead rate to allocate overhead to individual jobs based on the machine hours required. At the beginning of the year, the company expected to incur the following: EE (Click the icon to view the costs.) Metal’s accountant found an error in the expense records from the year reported. Depreciation on manufacturing plant and equipment was actually $405,000, not the $490,000 that had originally been reported. The unadjusted Cost of Goods Sold balance at year-end was $640,000. The manufacturing overhead allocated to jobs was $452,000 Read the requirements. Requirement 1. Prepare the journal entry to record manufacturing overhead costs incurred (Record debits first, then credits. Exclude explanations from any journal entries.)
Wilbert's Clothing Stores just paid a $1.25 annual dividend. The company has a policy whereby the dividend increases by 2% annually. You would like to purchase 100 shares of stock in this firm but realize that you will not have the funds to do so for another three years. If you desire a 12% rate of return, how much should you expect to pay for 100 shares when you can afford to buy this stock
Answer:
Expected cost =$1,275
Explanation:
The value of a stock using the dividend valuation model, is the present value of the expected future dividends discounted at the required rate of return. The required rate of return is the cost of equity .
The model is represented below:
P = D× (1+g)/ ke- g
Ke- cost of equity, g - growth rate, p - price of the stock
Ke- 12%, g= 2%, D=1.25
Applying this model, we have
Price = 1.25× (1.02)/(0.12-0.02)=$12.75
The total cost of 100 units = unit price × 100
=12.75× 100 = $1,275
Expected cost =$1,275
Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May JuneManufacturing costs (1) $155,800 $190,300 $203,900Insurance expense (2) 1,080 1,080 1,080Depreciation expense 2,110 2,110 2,110Property tax expense (3) 540 540 540(1) Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month.(2) Insurance expense is $1,070 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October).(3) Property tax is paid once a year in November.The cash payments expected for Finch Company in the month of May area. $38,950b. $181,675c. $220,625d. $142,725
Answer:
Total cash expense= $181,675
Explanation:
Giving the following information:
Manufacturing cost:
April= $155,800
May= $190,300
Insurance is not paid in May.
Property tax is paid in November.
Depreciation is not a cash expense.
Total cash payment May:
Manufacturing cost May= 190,300*0.75= 142,725
Manufacturing cost April= 155,800*0.25= 38,950
Total cash expense= $181,675
Match each of the following phrases with the term that it most closely describes it. Each term will be used only once.
a. Prepared when materials that have been ordered are received and inspected
b. Serve as the basis for recording direct labor on a job cost sheet
c. These make up the work in process subsidiary ledger
d. The process by which factory overhead is assigned to a cost object
e. Serve as the basis for recording materials used
1. Cost allocation
2. Job Cost sheet
3. Receiving Sheet
4. Time tickets
5. Materials requisitions
Answer:
a. Receiving Sheet.
b. Time tickets.
c. Job Cost sheet.
d. Cost allocation.
e. Material requisitions.
Explanation:
A financial statement is a written report that quantitatively describes a firm's financial health. Under the financial statements is a cash-flow statement, which is used to record the cash inflow and cash equivalents leaving a business firm.
Cash flow statement, also known as the statement of cash flows, contains financial information about operating, financial and investing activities.
Hence, activities that involve the production or purchase of merchandise and the sale of goods and services to customers, including expenditures related to administering the business, are classified as operating activities. All the net income or cash from all operational business activities of a company is recorded as operating activities.
Basically, the financial statements are the formally written records of the business and financial activities of a business entity or organization which includes;
a. Receiving Sheet: prepared when materials that have been ordered are received and inspected.
b. Time tickets: serve as the basis for recording direct labor on a job cost sheet.
c. Job Cost sheet: these make up the work in process subsidiary ledger.
d. Cost allocation: the process by which factory overhead is assigned to a cost object.
e. Material requisitions: serve as the basis for recording materials used.
Prepare the adjusting entry to record bad debts under each separate assumption. Bad debts are estimated to be 1.5% of credit sales. Bad debts are estimated to be 1% of total sales. An aging analysis estimates that 5% of year-end accounts receivable are uncollectible. Adjusting entries (all dated December 31).
Answer:
A. Dr Bad debts expense 85,230
Cr Allowance for Doubtful accounts 85,230
B. Dr Bad debts expense 75,870
Cr Allowance for Doubtful accounts 75,870
C.,Dr Bad debts expense 80,085
Cr Allowance for Doubtful accounts 80,085
Explanation:
Preparation of the adjusting entry to record bad debts under each separate assumption
A. Dr Bad debts expense 85,230
Cr Allowance for Doubtful accounts 85,230
(5,682,000*1.5%)
B. Dr Bad debts expense 75,870
Cr Allowance for Doubtful accounts 75,870
[(1,905,000+5,682,000)*1%]
C.Dr Bad debts expense 80,085
Cr Allowance for Doubtful accounts 80,085
[(1,270,100*5%)+16,580]
A marketer of automobiles wants to introduce a new model using a message
that combines visuals, music, words, and action. Which category of
advertising media will best meet this marketer's goals?
A. Magazines
B. Television
C. Radio
D. Outdoor
Answer: Television!
Explanation:
Radio, Magazine, and Outdoor don't all have the combined visuals, music, words, and action that television has.
Television as the advertising media will best meet the automobile marketer's goals. Thus, the correct answer is option B.
What is advertising media?The term "advertising media" describes a range of mainstream or alternative media platforms via which companies can market their goods, services, or brand. Knowing which advertising media channels are advantageous for your business can be vital in staying ahead of the competition because it is hard for every customer to be aware of every brand's offerings. Marketers can interact with various audiences in unique ways by utilizing the correct kind of advertising media.
Audio and visual are combined in television. This produces a multi-sensory advertising experience that demonstrates to consumers the worth of your goods. The touchpoint occurs in the viewer's house when an advertisement is shown on television. It becomes a more intimate medium as a result. A excellent technique to build a personal relationship with a viewer is through television.
Therefore, Radio, Magazine, and Outdoor as the media for advertising don't have the combined visuals, music, words, and action that television has.
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Perion Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 11,200 hours and the total estimated manufacturing overhead was $259,840. At the end of the year, actual direct labor-hours for the year were 10,800 hours and the actual manufacturing overhead for the year was $254,840. Overhead at the end of the year was:
Answer:
$4,280 under applied
Explanation:
Given that;
Estimated direct labor hours = 11,200
Estimated manufacturing overhead = $259,840
Estimated rate per hour = $259,840 ÷ 11,200 = $23.2
Actual labor hours = 10,800
Estimated overhead for actual hours
= 10,800 × $23.2
= $250,560
Actual overheads incurred = $254,840
Hence, actual overheads are under absorbed by
= $254,840 - $250,560
= $4,280
Vaughn Manufacturing sells its product for $60 per unit. During 2019, it produced 60000 units and sold 50000 units (there was no beginning inventory). Costs per unit are: direct materials $14, direct labor $15, and variable overhead $5. Fixed costs are: $720000 manufacturing overhead, and $90000 selling and administrative expenses. The per unit manufacturing cost under variable costing is
Answer:
$2.00
Explanation:
Consider Variable Manufacturing Costs only.
The per unit manufacturing cost under variable costing is $2.00
You are the Accounting Director for SpaceX based in New York. Your department is implementing new accounting software (called First Launch) that will affect all 300 locations across the United States. The purpose of the changeover is to improve efficiency, increase security, and provide more transparency. Each accountant will need to install the software within 48 hours of receiving the new product. Failure to do so will result in the product password expiring and require resending of the product. Once installed, accountants will have to restart all computers on the premises. Technical issues may arise during the two-day software rollout starting at 9:00 a.m. on March 1, 2021.
Required:
Write one email addressing all 300 location accountants to inform them of the changeover (you decide the order of information)
Answer:
The change will impact all 300 locations. The letter should be written to entire staff of the SpaceX.
Explanation:
To: All Staff SpaceX Team
Subject: Change over details (First Launch)
As you all are already aware about the implementation of new software named First Launch . The software installation run will start from March 1, 2021 at 9:00 a.m. Every accountant receiving the new product will require to install the software within 48 hours. Failure to do will result in expiry of the password which will require resending the software. After installation all accountants must restart the computer.
This change will affect all 300 locations across the United States. The changeover will result in improved efficiency, increase in security and there will be more transparency.
If there is any concern or query regarding this change feel free to write the team implementing the change.
Regards,
Director Accounts.
All of the following are true statements regarding Treasury Bills EXCEPT:A T-Bills are issued in bearer form in the United StatesB T-Bills are registered in the owner's name in book entry formC T-Bills are issued at a discountD T-Bills are non-callable
Answer: A T-Bills are issued in bearer form in the United States
Explanation:
T-Bills are indeed registered in the owner's name in a book entry and the owner's name is acquired electronically.
T-Bills are also issued at a discount and come back to par at maturity which means that the gain on a T-Bill is a capital gain.
T-Bills are also non-callable. The only false statement here therefore is that T-Bills are issued in bearer form in the U.S..
To get customers to try a new kind of sausage, marketers visit stores and set
up tables where customers can taste the sausage being cooked and pick up a
flier offering them 50 cents off the regular price. Which sales promotion
techniques are being used?
A. Display, samples, and coupons
B. Display only
C. Display, premiums, and samples
D. Samples and premiums
Answer:
A. Display,Samples, and coupons
Explanation: I just took this and this was the answer
To get customers to try a new kind of sausage, marketers visit stores and set up tables where customers can taste the sausage being cooked and pick up a flier offering them 50 cents off the regular price of samples and premiums. Hence, option D is appropriate.
What are the customers?
A client is someone who purchases goods, services, products, or ideas from a seller, vendor, or supplier in exchange for money or another useful consideration. Sales, business, as well as economics are all covered by this term.
An individual or company that purchases products or services from another company is known as a "customer." Customers are important since they bring in money. Businesses would cease to exist without them.
An individual, or rather, a business, that purchases goods or services from another company are known as a "customer." Customers are crucial to businesses because they generate income; without them, they would cease to exist.
Customers not only spend more money, but they also attract new customers. Your clients act as your sales representatives. In actuality, 56% of consumers said they would tell their neighbors and relatives about a business that provided great service. You can keep customers that are willing to endorse your firm by giving them exceptional customer service.
Hence, option D is correct.
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Europa Company manufactures only one product. Presented below is direct labor information for November. Standard direct labor hours per unit of product 3.20 Number of finished units produced 6,500 Standard wage rate per direct labor hour (SP) $ 19.20 Total direct labor payroll for the period $ 359,424 Actual wage rate per direct labor hour worked (AP) $ 16.00 The actual direct labor hours worked (AQ) during November (rounded to the nearest whole number) was:
Answer:
22,464 hours
Explanation:
Calculation to determine The actual direct labor hours worked (AQ) during November
Using this formula
Actual direct labor hours worked (AQ) = Total labor cost ÷ Actual wage rate
Let plug in the formula
Actual direct labor hours worked (AQ) = $359,424 ÷ 16
Actual direct labor hours worked (AQ) = 22,464 hours
Therefore The actual direct labor hours worked (AQ) during November will be 22,464 hours
Share Issuances for Cash Finlay. Inc., issued 8.000 shares of $50 par value preferred stock :u $68 per ~hare and 12.000 shares of no-par value common stock at $I 0 per share. The common Mock ha~ no Mated value. All issuances were for cash. L02, 4
a. Determine the financial statement effect of the share issuances.
b. Determine the financial statement effect of the issuance of the common stock a-.-.uming that - it had a st:ued value of $5 per share.
c. Determine the financial statement effect of the issuance of the common stock assumin
Answer:
See the attached excel file for all the the financial statement effect.
Explanation:
Note: This question is not complete and it has some errors. The errors are therefore fixed and the complete question presented before answering the question as follows:
Share Issuances for Cash: Finlay. Inc., issued 8,000 shares of $50 par value preferred stock at $68 per share and 12,000 shares of no-par value common stock at $10 per share. The common stock has no stated value. All issuances were for cash.
a. Determine the financial statement effect of the share issuances (preferred and common).
b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share.
c. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $1 per share.
The explanation of the answer is now given as follows:
a. Determine the financial statement effect of the share issuances (preferred and common).
Note: See the attached excel file for the the financial statement effect of the share issuances (preferred and common).
In the attached excel file, the following workings are used:
w.1: Preferred stock = Number of preferred shares issued * Preferred share par value = 8,000 * $50 = $400,000
w.2: Paid-In Capital in Excess of Par - Preferred stock = (Number of preferred shares issued * (Preferred share price per share - Preferred share par value) = 8,000 * ($68 - $50) = $144,000
w.3: Common stock = Number of common shares issued * Common stock share price per share = 12,000 * $10 = $120,000
b. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $5 per share.
Note: See the attached excel file for the financial statement effect of the issuance of the common stock .
In the attached excel file, the following workings are used:
w.4: Common stock = Number of common shares issued * Common share par value = 12,000 * $5 = $60,000
w.5: Paid-In Capital in Excess of Par - Common stock = (Number of common shares issued * (Common share price per share - Common share par value) = 12,000 * ($10 - $5) = $60,000
c. Determine the financial statement effect of the issuance of the common stock assuming that it had a stated value of $1 per share.
Note: See the attached excel file for the financial statement effect of the issuance of the common stock .
In the attached excel file, the following workings are used:
w.6: Common stock = Number of common shares issued * Common share par value = 12,000 * $1 = $12,000
w.9: Paid-In Capital in Excess of Par - Common stock = (Number of common shares issued * (Common share price per share - Common share par value) = 12,000 * ($10 - $1) = $108,000
The loan department of a financial corporation makes loans to businesses. The costs of processing these loans are often several thousand dollars. All loans are initially evaluated using the same financial analysis software, but some require outside services such as appraisals and legal services. Which is the most appropriate costing system for the loan department
Answer:
Operation costing
Explanation:
Operating costing is the combination of the job costing and the process costing. In this the cost are received for each and every operation rather for each and every process
Since in the given situation it is mentioned that they need some outside services like legal services etc so here the costing system that used for the loan department is operation costing
The following are the transactions for the month of July.
Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 41 $10
July 13 Purchase 205 12
July 25 Sold (100 ) $16
July 31 Ending Inventory 146
Required:
Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.
Answer:
DO A BARREL ROLL
Explanation:USE THE BRAKE
With regard to trading location, Multiple Choice none of the options forward contracts are traded competitively on organized exchanges. futures contracts are traded by bank dealers via a network of telephones and computerized dealing systems. futures contracts are traded competitively on organized exchanges.
Answer:
futures contracts are traded competitively on organized exchanges.
Explanation:
Secondary market can be defined as a market where various investors sell and buy securities from other investors.
Some examples of secondary market around the world are New York Stock Exchange (NYSE), NASDAQ, London Stock Exchange (LSE) and National Stock Exchange (NSE).
On the other hand, the primary market refers to the market where these securities that are being sold are issued or created
With regard to trading location, futures contracts are traded competitively on organized exchanges.
Preparing a consolidated income statement - with noncontrolling interest, but AAP or intercompany profits
A parent company purchased an 70% interest in its subsidiary several years ago with no AAP (i.e., purchased at book value). Each reports the following income statement for the current year, as shown in part b. below.
b. Prepare the consolidated income statement for the current year.
Elimination Entries
Parent Subsidiary Dr. Cr. Consolidated
Income statement:
Sales $6,000,000 $900,000
Cost of goods sold (4,200,000) (540,000)
Gross profit 1,800,000 360,000
Income (loss) from subsidiary 88,2000 0
Operating expenses (1,140,000) (234,000)
Net income $748,200 $126,000
Net income attributable to noncontrolling interests
Net income attributable to parent
Answer:
Consol. Income Parent Subsidiary Elimination entries Consolidated
statement Dr Cr
Sales 6000000 900000 6900000
COGS -4200000 -540000 -4740000
Gross profit 1800000 360000 2160000
Income (loss) 88200 0 88200 0
from subsidiary
Operating -1140000 -234000 -1374000
expense
Net income 748200 126000 88200 786000
Net income attributable to 37800 37800
non-controlling interests*
Net income attributable to Parent 748200
Workings:
Net income attributable to non-controlling interests = 126000*30% = 37800
Marketing managers from two companies agree that competing to offer the lowest prices has been hurting their profit margins, so they agree on the prices they will charge for some of their key products. What illegal pricing behavior is this? O A. Price discrimination O B. Deceptive pricing C. Price fixing O D. Price gouging
Price fixing is the illegal pricing behaviour is this. Hence, option C is correct.
A written, verbal, or conduct-based agreement to raise, lower, maintain, or stabilize prices or price levels is known as price fixing. Antitrust laws typically mandate that each business establish prices and other competitive terms independently, without consulting a rival.
Competitors who agree to raise, cut, or stable prices are said to have engaged in horizontal price fixing. For instance, a horizontal agreement between two rival fast-food establishments selling hamburgers on the sale pricing of cheeseburgers is prohibited by antitrust rules.
Price fixing is an anticompetitive agreement between players on the same side of a market to buy or sell a good, service, or commodity solely at a set price, or to keep the market's dynamics in such a way that the price is kept at a fixed level.
Thus, option C is correct.
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Answer:
price fixing
Explanation: