Answers
Answer:
Workman's compensation
Explanation:
OSHA stands for Occupational Health and Safety Administration, and it is an agency created during the administration of Richard Nixon, whose main purpose is to establish safety rules in the workplace, to make sure that workers are aware of those rule, and to compensate workers economically in case their health is affected by a violation of a regulation from the companies they are or were working for.
Related Questions
A 10-year, 10.00%, $5,000 bond that pays dividends quarterly can be purchased for $4,610.
This means that $4,610 is spent on the bond now. Every quarter, $125.00 is provided to the purchaser as the dividend. After 10 years, $5,000 is given to the purchaser.
If the bond is purchased and pays as scheduled, which of the following ranges of effective rate of return will the purchaser receive?
a. 11.00% - 12.00%
b. 10.00% - 10.50%
c. 12.01% - 14.01%
d. 10.50% - 10.75%
Answers
Answer: a. 11.00% - 12.00%
Explanation:
We can find the rate using Excel.
Payments are quarterly so we need to adjust the variables to quarterly figures:
Period = 10 years * 4 = 40 quarters
Present value = $4,610 (should be a negative number)
Future value = $5,000 at maturity
The effective rate will be 2.9% as shown in the attachment.
This is a quarterly figure so convert it to annual:
= 2.9 * 4
= 11.6%
It is between 11% and 12%
Marilyn County operates on a calendar year basis. It uses a Capital Projects Fund to account for major capital projects and a Debt Service Fund to accumulate resources to pay principal and interest on general obligation debt. It does not use encumbrance accounting in the Capital Projects Fund. The following transactions occur:
1. On January 1, 2013, Marilyn County issues general obligation bonds in the amount of $1,000,000 to build a community center. The debt will be paid off in 20 equal semiannual installments of $50,000 over a 10-year period commencing October 1, 2013, with interest of 4 percent per annum paid on the outstanding debt.
2. The county realizes that the community center will cost more than it originally anticipated. On May 1, the county transfers $20,000 from its General Fund to its Capital Projects Fund to help meet project costs.
3. Construction is completed on July 1, 2013, and the community center is ready for occupancy. The county pays the contractor a total of $1,020,000 on July 1. The county anticipates that the community center will have a useful life of 20 years.
4. On September 30, 2013, the General Fund transfers an amount to the Debt Service Fund that is sufficient to pay the first debt service installment, which is due October 1.
5. The county pays the debt service due on October 1. Use the preceding information to do the following:
Required:
a. Prepare journal entries to record these transactions in the Capital Projects Fund, the General Fund, and the Debt Service Fund.
b. Prepare the adjustments needed to develop the governmental activities column of the government- wide financial statements.
c. Calculate the amount that Marilyn County will report in its December 31, 2013, governmentwide statement of net position as Invested in capital assets, net of related debt. Also, assuming all debt service installments are paid when due in 2014, calculate the amount invested in capital assets, net of related debt as of December 31, 2014.
Answers
Answer:
Marilyn County
1. Journal Entries:
1. January 1, 2013,
Debit Capital Projects Fund $1,000,000
Credit General Obligation Bonds Payable $1,000,000
To record the issuance of bonds, payable in 20 equal semiannual installments of $50,000 over a 10-year period commencing October 1, 2013, with interest of 4 percent per annum paid on the outstanding debt.
2. May 1,
Debit Capital Projects Fund $20,000
Credit General Fund $20,000
To fund the additional project costs.
3. July 1
Debit Construction of Community Center $1,020,000
Credit Capital Projects Fund $1,020,000.
To record the payment to the contractors for completed construction of Community Center with estimated 20 years useful life.
4. September 30, 2013
Debit Debt Service Fund $70,000
Credit General Fund $70,000
To transfer funds for debt service.
5. October 1:
Debit Bonds Payable $50,000
Debit Interest on Bonds Expense $20,000
Credit Debt Service Fund $70,000
To record the payment of the debt service with semi-annual interest.
2. Governmental activities column of the government- wide financial statements:
Capital assets $1,020,000
Reduction of Liabilities $950,000 ($1,000,000 - $50,000)
Payment of debt service and interest $70,000
3. December 31, 2013, government-wide statement of net position
Investment in capital assets, $1,020,000
Related debt (950,000)
Invested capital assets, net $70,000
4. December 31, 2014, government-wide statement of net position
Investment in capital assets, $1,020,000
Related debt (850,000)
Invested capital assets, net $170,000
Explanation:
a) Data and Analysis:
1. January 1, 2013, Capital Projects Fund $1,000,000 General Obligation Bonds Payable $1,000,000
2. May 1, Capital Projects Fund $20,000 General Fund $20,000
3. July 1 Construction Contract $1,020,000 Capital Projects Fund $1,020,000.
4. September 30, 2013 Debt Service Fund $70,000 General Fund $70,000
5. October 1, Bonds Payable $50,000 Interest on Bonds Expense $20,000 ($1,000,000 * 4% * 6/12) Debt Service Fund $70,000
You are the Cancer Program Director for a large hospital. The Vice President you report to has just informed you that the Board of Directors has approved the development of a radiation treatment department. The feasibility study listed the employees that will be needed by job title and an estimated total payroll. It did not include further details about staffing. The types of positions include entry level service and support staff, licensed technical and nursing staff, and a supervisor. You have four months, while the facility is remodeled and equipment installed, to hire the staff so they can begin training and open the center five months from now. Your first step will be to consult with the Human Resources staff.
Required:
Show the work plan that you would develop for this assignment.
Answers
Answer:
I tink its 74 if not punish me
The following phases are part of the work plan for hiring staff for the radiation treatment department .
What are the working plans ?Stage 1: Consultation with Human Resource Staff: We will obtain approval for people recruiting from the HR officer and council members in this step. We will also confer with the human resource manager regarding the expertise, qualifications, and salary of the employees who will be employed.
Step 2: Accepts Applications: The HR officer will take applications from a variety of sources, review the employees' applications, and forward the relevant resumes to the Head of Department for their review.
The third step is to conduct the interview after notifying the shortlisted candidates of their selection. Two rounds are available forthe interview, the first round of selection, and the last interview.
The interviewer evaluates the candidate's communication skills in the first round, and the technical interview takes place in the second.
Step 5: Introducing the Job: The list is created following the completion of the employee's medical examination and document verification for positions such as entry-level personnel.
Learn more about Process here
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Andrew and Brianna are married and live in Texas, a community-property state. For their birthdays this year Andrew gave cash gifts of $20,900 to each of his two daughters, and Brianna gave $35,200 to her niece. What is the amount of Andrew's taxable gifts
Answers
Answer: $2,600
Explanation:
Because Andrew is married, the gift tax on him is split in half between him and his wife. This means that to each of his daughters, the gift tax will be on:
= 20,900 / 2
= $10,450
This amount is less than the gift exclusion limit of $15,000 so Andrew will not be charged taxes on the gifts to his daughters.
On the gift to Brianna's niece, Andrew's gift tax will be based on:
= 35,200 / 2
= $17,600
This is above the gift exclusion limit of $15,000 by:
= 17,600 - 15,000
= $2,600
The above would therefore be Andrew's taxable gift amount.
Sales $419,000 Cost of goods sold (all variable) $175,500 Total variable selling expense $23,600 Total fixed selling expense $17,200 Total variable administrative expense $15,400 Total fixed administrative expense $31,400 The contribution margin for October is: Multiple Choice $370,400 $243,500 $204,500 $155,900
Answers
Answer:
$204,500
Explanation:
contribution margin = sales - variable cost
= $419,000 - ($175,500 + $23,600 + $15,400)
= $204,500
The contribution margin for October is: $204,500
Coronado Company is authorized to issue 9000 shares of 9%, $100 par value preferred stock and 522000 shares of no-par common stock with a stated value of $1 per share. If Coronado issues 4500 shares of preferred stock for land with an asking price of $571000 and a market value of $547000, which of the following would be the journal entry for Coronado to record?
(a) Land 571000
Preferred Stock 450000
Paid-in Capital in Excess of Par-Preferred 121000
(b) Land 547000
Preferred Stock 450000
Paid-in Capital in Excess of Par-Preferred 97000
(c) Land 450000
Preferred Stock 450000
(d) Land 547000
Preferred Stock 547000
Answers
Answer:
(b) Land 547000
Preferred Stock 450000
Paid-in Capital in Excess of Par-Preferred 97000
Explanation:
The journal entry is shown below;
Land $547,000
To Preferred stock $450,000 (4,500 shares × $100)
To Paid in capital, in excess of par- preferred $97,000
(being the preferred stock is issued in exchange of land)
Here the land is debited as it increased the asset and credited the preferred stock & paid in capital as it increased the equity
Therefore the correct option is b.
difference between manager and management
Answers
Answer:
The main difference between the two is that leaders have people that follow them, while managers have people who simply work for them.
...
A publisher reports that 64% of their readers own a laptop. A marketing executive wants to test the claim that the percentage is actually above the reported percentage. A random sample of 140 found that 70% of the readers owned a laptop. Is there sufficient evidence at the 0.10 level to support the executive's claim? Step 5 of 7: Identify the value of the level of significance.
Answers
Answer:
I don't no the answer sorry
1. A location’s risks can make a difference in premium costs. Think about two houses, one built on a mesa (a high desert plateau) in Arizona and the other built on the Louisiana coast (below sea level). Which location is more likely to experience flooding? Which house would have lower premiums for flood insurance?
Answers
Answer:
House with lower premiums for flood insurance -- house built on Mesa in Arizona.
Location more likely to experience flooding --- Louisiana coast which is below sea level.
Explanation:
Insurances provides a protection in exchange for a amount of fee known as a premium. An insurance is a policy or an agreement where the person availing the policy gets a financial protection against the calamities or losses that occurs to the person as promised by the other party. But for that the person needs to a pay a fee called as the premium to the other party.
In the context, the house which is built on the mesa, which is a high desert plateau in Arizona is less prone to floods. Since the location of the house is in a high altitude place, it is less likely to experience floods as compared to the other place in Louisiana coast which is below sea level and is more likely to experience flooding because of its location near the coast and elevation.
Therefore, the house located in Arizona will have to pay lower premiums for flood as there will be less likely to occur flood in the region of the high elevation of the place.
And since house built on Louisiana coast is below sea level, it will more likely to experience floods.
Examples of price discrimination
Complete the following table by indicating whether or not each scenario is an example of price discrimination.
Hint: To determine whether a scenario is an example of price discrimination, think about whether the market can be segmented into two groups that pay different prices for the same good.
Price Discrimination
Scenario Yes No
A local boutique is having a sale on sweaters, but customers are not aware of the sale until they are already in the store. In other words, there is no advertising of the sale other than signs in the back of the store that cannot be seen from the outside. All sweaters are marked as 25% off.
Southeast Airlines offers domestic flights to a variety of U.S. cities. The company's last-minute flight discount service, Ping, can be downloaded for free from its website. Each day, Ping will alert users to that day's deals. These deals are available for a short period of time and are good for travel only between certain locations during specified travel periods. Therefore, business travelers tend not to take advantage of these offers.
Answers
Answer:
It is not an example of price discrimination
It is an example of price discrimination
Explanation:
Price discrimination is when the same product is sold at different prices to customers in different markets
types of price discrimination
1. first degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.
2. second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.
3, third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students
Requirements to practice successful price discrimination
1. The firm must have market power. If the firm does not have market power and attempts to price discriminate they would lose customers
2. The firm must have different elasticities of demand for their product in different markets
3. The firm must be able to segment the market for their products
the first scenario is not an example of price discrimination because both customers that know about the sale and those that do not, end up paying the same price. Consumers are not segmented.
the second scenario is an example of price discrimination because different prices are offered to different groups of consumers based on location travelled and specified travel period. this most likely is an example of third degree price segmentation
Jackson Products produces a barbeque sauce using three departments: Cooking, Mixing, and Bottling. In the Cooking Department, all materials are added at the beginning of the process. Output is measured in ounces. The production data for July are as follows:
Production:
Units in process, July 1, 60% complete* 10,000
Units completed and transferred out 80,000
Units in process, July 31, 80% complete* 15,000
* With respect to conversion costs.
Required:
a. Prepare a physical flow schedule for July.
b. Prepare an equivalent units schedule for July using the FIFO method.
Answers
Answer:
Physical Flow units 105000 ounces
FIFO Equivalent Units = Materials 85000 and Conversion 86000 ounces
Explanation:
Jackson Products
Physical flow Schedule
For the month of July.
Units to account For
BWIP 60 % complete 10,000
Units Started 95000
Total units to account for 105000
Units accounted For
Units completed and Transferred out 80,000
BWIP 10000
EWIP 15000
Total Units accounted For 105,000
Jackson Products
Equivalent Units Schedule
For the month of July.
Particulars Units % OF Completion Equivalent Units
Materials Conversion Materials Conversion
Units Started &
Completed 100 100 80000 80000
EWIP 100 80 15000 12000
Less Beg. WIP 100 60 10,000 6000
Total Equivalent Units 85000 86000
The difference between Weighted and FIFO Equivalent units is that FIFO accounts only for the current units . Thus the beginning inventory is deducted from the Total of completed and ending units.
Explanation:
Pina Company issued $2,500,000 face value of 12%, 20-year bonds at $2,928,977, a yield of 10%. Pina uses the effective-interest method to amortize bond premium or discount. The bonds pay semiannual interest on June 30 and December 31.
Required:
Prepare the journal entries.
Answers
Answer:
Pina Company
Journal Entries:
Debit Cash $2,928,977
Credit 12% Bonds Payable $2,500,000
Credit Bonds Premium $428,977
To record the proceeds from the bonds issue, the bonds liability, and the premium.
June 30:
Debit Interest expense $146,449
Debit Amortization of premium $3,551
Credit Cash $150,000
To record the first interest payment and amortization of bonds premium.
December 31:
Debit Interest expense $146,271
Debit Amortization of Premium $3,729
Credit Cash $150,000
To record the second interest payment and amortization of bonds premium.
Explanation:
a) Data and Calculations:
Face value of 12% bonds = $2,500,000
Proceeds from bonds issue 2,928,977
Premium = $428,977
Coupon rate = 12%
Market yield rate = 10%
June 30:
Cash payment = $150,000 ($2,500,000 * 6%)
Interest expense $146,449 ($2,928,977 * 5%)
Amortized Premium 3,551 ($150,000 - $146,449)
Bonds value = $2,925,426 ($2,928,977 - $3,551)
December 31:
Cash Payment = $150,000 ($2,500,000 * 6%)
Interest expense $146,271 ($2,925,426)
Amortized premium 3,729 ($150,000 - $146,271)
Bonds value = $2,921,697 ($2,925,426 - $3,729)
The Pan American Bottling Co. is considering the purchase of a new machine that would increase the speed of bottling and save money. The net cost of this machine is $56,000. The annual cash flows have the following projections. Use Appendix B and Appendix D for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Year Cash Flow
1 $23,000
2 23,000
3 25,000
4 28,000
5 16,000
Required:
a. If the cost of capital is 10 percent, what is the net present value of selecting a new machine?
b. What is the internal rate of return?
Answers
Answer and Explanation:
The computation is shown below;
a. the net present value is
Year cash flow factor at 10% Discounted cash flows
0 -$56,000 1 $56,000
1 $23,000 0.9091 $20,909.09
2 $23,000 0.8264 $19,008.26
3 $25,000 0.7513 $18,782.87
4 $28,000 0.6830 $19,124.38
5 $16,000 0.6209 $9,934
Net present value $31,759.34
b. The internal rate of return is
Here we apply the formula
= IRR()
After this, the irr is 30.75%
The following data relate to the direct materials cost for the production of 2,200 automobile tires:
Actual: 51,700 lbs. at $1.70 $87,890
Standard: 50,700 lbs. at $1.75 $88,725
Required:
a. Determine the direct materials price variance, direct materials quantity variance, and total direct materials cost variance.
Direct Materials Price Variance __________ $
Direct Materials Quantity Variance __________ $
Total Direct Materials Cost Variance __________ $
b. The direct materials price variance should normally be reported to the __________ . When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the__________. When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the__________.
Answers
Answer:
A) - $2585
$1750
-$835
B) Purchasing department , Purchasing supervisor , purchasing department
Explanation:
A) calculations for direct material price variance , quantity variance and total direct materials cost variance
Direct material price variance = 51,700 * ( 1.7 - 1.75 ) = -$2585.
Direct material Quantity variance = 1.75 ( 51700 - 50700 ) = $1750
Total direct materials Cost variance = 87890 - 88725 = - $835 a
B)
The direct materials price variance should normally be reported to the Purchasing department.
When lower amounts of direct materials are used because of production efficiencies, the variance would be reported to the production supervisor
When the favorable use of raw materials is caused by the purchase of higher-quality raw materials, the variance should be reported to the Purchasing department
The risk-free rate is 3%. MCD currently prices at $25. The Delta of a 1-year at-the-money European call on MCD is 0.5. John has a portfolio made of the following: (1) One bond maturing in 1 year paying $1000. (2) Three 1-year at-the-money European MCD calls. (3) Two 1-year at-the-money European MCD puts. How many shares of MCD should John long (or short) to make his portfolio delta-neutral
Answers
Answer:
Short 1.5 shares
Explanation:
Given data :
Risk free rate = 3%
current price ( market price ) = $25
Delta of 1-year at money European call on MCD = 0.5
Determine how many shares of MCD John should either Long or short to achieve a delta-neutral
use the relation below
4 * 0.5 + 1 ( 0.5 - 1 ) + x = 0
x ( number of shares ) = - [ 4 * 0.5 + 1 ( 0.5 - 1 ) ]
= - 1.5 shares
negative ( - ) means MCD should short 1.5 shares
LCI Cable Company grants 2.0 million performance stock options to key executives at January 1, 2018. The options entitle executives to receive 2.0 million of LCI $1 par common shares, subject to the achievement of specific financial goals over the next four years. Attainment of these goals is considered probable initially and throughout the service period. The options have a current fair value of $16 per option.
Required:
a. Prepare the appropriate entry when the options are awarded on January 1, 2018.
b. Prepare the appropriate entries on December 31 of each year 2018.
c. Suppose at the beginning of 2019, LCI decided it is not probable that the performance objectives will be met. Prepare the appropriate entries on December 31 of 2019 and 2020.
Answers
Answer:
Data provided as per the question is given below:-
Option expected to vest = 2.4 million
Fair value = $13
No Journal entry is required until the end of the reporting period, but reimbursement must be calculated at the grant date.
Estimated total compensation = Option expected to vest × Fair value
= 2.4 million × $13
= $31.2 million
Explanation:
Brief Exercise 22-07 Sunland Company classifies its selling and administrative expense budget into variable and fixed components. Variable expenses are expected to be $26,020 in the first quarter, and $5,140 increments are expected in the remaining quarters of 2020. Fixed expenses are expected to be $41,120 in each quarter. Prepare the selling and administrative expense budget by quarters and in total for 2020.
Answers
Answer:
So whats the question???
Explanation:
According to the results of the 2019 expatriate survey, which of the following most accurately describes he current state of HRM efforts o staff international operations?
A. more women are accepting international assignments
B. people without family or kids are less successful in international assignments.
C. third-country nationals are quickly being replaced y localized expatriates.
Answers
Answer:
Option A is the accurate option.
Explanation:
Employers would be assigned to foreign employment, and therefore more women than ever are being sent overseas.The trend has always been rising throughout the Asia-Pacific region especially Northern America has been seeing substantial growth throughout this phenomenon or development.The other choices aren't related to the given scenario. So the above is the appropriate solution.
explain the EU's objectives on their economic actions?
Answers
Answer:
The objective is to ensure Europe's sustainable and steady development. It means balanced economic growth and stable prices. The European Union seeks to create a competitive market economy which takes into account people's wellbeing and social needs. An
order the steps for inserting a video into a presentation, using a media slide template
Answers
Answer:
The answer is below
Explanation:
To embed a video file for a presentation in a Microsoft Powerpoint, here are the following steps to take in order:
1. Click on the specific file you want to add the video, follow up by clicking on the Menu, then Insert.
2. From the Insert tab, click the Video drop-down arrow, follow up by clicking the Video on My PC.
3. Find and select your specific video file, then click Insert.
4. Modify the settings in the Video Format toolbar to ensure the video plays accordingly
5. Make a preview of your presentation to confirm that your video plays accordingly.
Answer:
1. Insert a new slide based on the template
2. click the video icon
3. locate and select a video file
4. click the insert button
5. adjust the appearance of the video
Explanation:
edge answer. hope this helps :)
What are the advantages of electronic communication
Answers
Answer:
IT HEPLS TO SOLVE ECONOMIC PROBLEMS ABOUT TRADITIONAL SUPERSTATION
Answer:
1. It is cheap
2. Ease of access and long term storage
3. Mobility in information transfer
4. Speedy communication
Explanation:
1. Communication over electronic media is very cheap and economical. Messaging via mobile devices can be done at little or no cost. Very important and urgent information can be disseminated through text or phone calls. This eliminates the cost of transportation.
2. You can save any information you receive or send easily for retrieval in future. The user can choose to store the messages temporarily or permanently. He can decide to print or store in files or hard disks.
3.Electronics communication involves the use of mobile devices such as phones, laptops and tablets for communication. You can carry these devices around easily, hence the portability in information and messaging.It makes it possible for people to stay in touch with their colleagues, friends and family anywhere and anytime.This channel of communication is a very big booster in the productivity of people who work online. They can do their jobs anywhere even when they are on vacation, inside the train, on a bus and anywhere you can think of.
4.Electronic communication is very fast. It offers users the opportunity to message and share information, multimedia messages and other information files within a blink.Instant messaging is very beneficial as people can now get information on the go.The quickness of important information can save lives and properties. Electronic Communication is very useful in security. You can use it as a means to create awareness about danger and people will be on the know within a matter of seconds.
Hamby transfers a capital asset in exchange for a one-half interest in Hartsville LLC. The asset has an adjusted basis to Hamby of $20,000 and a fair market value of $55,000.
Hamby has a $_____________ realized gain on the exchange. Hamby's basis for his LLC interest is $______. The LLC's holding period for the capital asset carries over from Hamby . The LLC’s basis for the contributed property is $____________.
Answers
Answer: a. $35000
b. $20000
c. $20000
Explanation:
a. The realized gain will be:
= Fair market value - Adjusted basis
= $55000 - $20000
= $35000
b. The basis for LLC Interest will be will be thesame as the adjusted basis which will be $20000
c. The LLC basis for the contributed property will be $20000 as it's the cost of the adjusted basis .
=
Assume that, on January 1, 2021, Matsui Co. paid $2,958,000 for its investment in 87,000 shares of Yankee Inc. Further, assume that Yankee has 290,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $580,000 at January 1, 2021. The following information pertains to Yankee during 2021:
Net income $290,000
Dividends declared and paid $87,000
Market price of common stock on 12/31/2021 $36 /share
Required:
What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee?
Answers
Answer: $3,018,900
Explanation:
Amount to report is:
= Cost of investment + Share of Net income - Share of dividends
Share of Net income
= Percentage ownership * Net income
= 87,000 shares / 290,000 * 290,000
= $87,000
Share of Dividends
= 87,000 / 290,000 * 87,000
= $26,100
Amount to report:
= 2,958,000 + 87,000 - 26,100
= $3,018,900
All of the following are criticisms of the payback period criterion EXCEPT Group of answer choices time value of money is not accounted for. it deals with accounting profits as opposed to cash flows. None of the above; they are all criticisms of the payback period criteria. cash flows occurring after the payback are ignored.
Answers
Answer:
I dont know
Explanation:
Dman
What conditions must be added to Pure Competition to achieve Perfect Competition?
Answers
Furniture Face Lift refinishes old wood furniture. Their process for refinishing chairs has 8 workers and 4 stations. Each chair starts at the Stripping station, then goes to Priming, then to Painting and finally to Inspection. Where there are multiple workers within a station, each worker works independently on his/her own chair. Assume inventory buffers are allowed between each station and each station has inventory to work on at the beginning of the day
Station Staffing Processing time (hours per chair per worker)
Stripping 3 2.5
Priming 2 1.5
Painting 3 1.75
Inspection 1 0.8
Suppose at the start of the day there is no inventory of chairs in the shop. That is, there are no chairs within any of the stations or between them in any buffer. A truck loaded with 10 chairs arrives. How many hours will it take them to complete these 10 chairs?
Answers
Answer:
13.19 hours
Explanation:
Station Staffing Processing time (Hours Capacity = Staffing /
per chair per worker) Processing time
Stripping 3 2.5 1.2
Priming 2 1.5 1.33
Painting 3 1.75 1.714
Inspection 1 0.8 1.25
Stripping has the lowest capacity, hence it will be having bottleneck, thus the process capacity is 1.2.
Total time to produce the 1st chair = 2.5 + 1.5 + 1.75 + 0.8
Total time to produce the 1st chair = 6.55 hours
Time to produce subsequent chair = 1/1.2
Time to produce subsequent chair = 0.83 hrs
Total time taken to produce 10 chairs = 6.55 hours + 0.83 hrs*8 Workers
Total time taken to produce 10 chairs = 6.55 hours + 6.64 hours
Total time taken to produce 10 chairs = 13.19 hours
Weighted Average Method, Equivalent Units, Unit Cost, Multiple Departments
Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments.
The second department (Polishing) had the following physical flow schedule for December:
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started ?
Total units to account for ?
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed ?
Units accounted for ?
Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: direct materials, $32,000; conversion costs, $50,000; and transferred in, $40,000.
Required:
1. Assuming the use of the weighted average method, prepare a schedule of equivalent units. Enter percentages as whole numbers.
Fordman Company
Schedule of Equivalent Units
For the month of December
Direct Materials Conversion Costs Transferred In
Units completed
Ending WIP:
x
%
x
%
Total equivalent units
2. Compute the unit cost for the month. If required, round your answer to the nearest cent.
$ per equivalent unit
Answers
Answer:
Fordman Company
1. Fordman Company
Schedule of Equivalent Units
For the month of December
Direct Materials Conversion Costs Transferred In
Units completed 16,000 16,000 20,000
Ending WIP: 4,000 4,000
(8,000 * 50%) (8,000 * 50%)
Total equivalent units 20,000 20,000 20,000
2. Cost per equivalent unit:
Direct Materials Conversion Costs Transferred In
Total costs of production $37,000 $56,000 $48,000
Total equivalent units 20,000 20,000 20,000
Cost per equivalent unit $1.85 $2.80 $2.40
Explanation:
a) Data and Calculations:
Transferred in units = 20,000
Cost of units transferred in = $40,000
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started 20,000
Total units to account for 24,000
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed 16,000
Units accounted for 24,000
Materials Conversion Transferred in
Beginning work in process $5,000 $6,000 $8,000
Costs added during month 32,000 50,000 40,000
Total costs of production $37,000 $56,000 $48,000
The senior vice presidents at Terra Firma Construction are each responsible for a specific function within the organization. One leads the human resources team, one the marketing team, another the finance team, and so on. Which of the following options for viewing organization charts would best assist you in reporting on the areas of specialization within Terra Firma Construction?
a. reviewing dotted line relationships
b. scanning the chart vertically
c. working from the entry-level positions upwards
d. studying the chart’s matrices
e. examining the chart from side to side
Answers
Answer:
b. scanning the chart vertically
Explanation:
Scanning the charts vertically is the best option for assisting when trying to report to the vice president on their various areas of specializations. In vertical organogram, it helps to represent the line or chain of commands in an organization starting from the least to the most important person in that given organization vertically.
The least would happen to be the new entrant in the organization while the most important would happen to be the CEO or President overseeing all the activities of the said organization.
The best option for viewing organization charts would best assist you in reporting on the areas of specialization within Terra Firma Construction is scanning the chart vertically.
Vertical scanning is often known as when a single IP is being tested on multiple ports.
Organizational chart are often classified into two types. they are
Vertical HorizontalIt is often based on the style of the layout. A vertical organizational chart often looks like a pyramid with the CEO or company president at the top.
It often have a single segment having series of middle management and the manager who have their own department.
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Such factors as having one's own tools and workplace, having a number of customers, setting one's own work schedule and having the power to determine how a job will be carried out indicate that this person is likely:_______.
a. An employee An incidental employee
b. An employee by ratification
c. A gratuitous employee
d. An independent contractor
Answers
Answer:
d. An independent contractor
Explanation:
The factors mentioned in the question above refer to an independent contractor, that is, a worker who is self-employed and controls his own work that is not regulated by an employer.
An independent contractor has the autonomy and freedom to coordinate his work according to his own needs, that is, he can offer his service to a clientele choosing his place of work, schedule and the power to finish how the work will be done.
Some examples of independent contractors may be entrepreneurs, lawyers, doctors, dentists, traders, etc.
The controller of Norton Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs.
Month Total Maintenance Costs Total Machine Hours
January $2,700 300
February $3,000 350
March $3,600 500
April $4,500 690
May $3,200 500
June $5,500 700
1. Determine the variable cost components using the high-low method. (Round variable cost to 3 decimal places e.g. 12.250.)
Variable cost per machine hour $ _
2. Determine the fixed cost components using the high-low method. (Round answer to 0 decimal places e.g. 2,520.)
Total fixed costs $ _
Answers
Answer:
Results are below.
Explanation:
Giving the following information:
January $2,700 300
February $3,000 350
March $3,600 500
April $4,500 690
May $3,200 500
June $5,500 700
To calculate the variable and fixed costs, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (5,500 - 2,700) / (700 - 300)
Variable cost per unit= $7
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 5,500 - (7*700)
Fixed costs= $600
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 2,700 - (7*300)
Fixed costs= $600