Answer:
d
Explanation:
because its not really their job to find u a temporary place to live while they get ur apartment fixed
If your apartment catches on fire and you have renters insurance, the insurance company will likely pay all of these EXCEPT The cost of your hotel room for a week while your apartment is cleaned up. Thus the correct option is D.
What is Insurance?A contract in which an individual or organization pays a premium to an insurance firm in exchange for protection against future financial losses is termed Insurance.
A type of insurance named Renters insurance is designed to protect renters from economic harm that may occur as a result of either harm to their personal belongings or liability for harm or injury they have caused to others.
Renters' insurance is often less expensive than other types of insurance, and it is frequently required by renters as an integral part of renting a property. It can give tenants peace of mind as well as financial security.
Therefore, option D is appropriate.
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Buddy's Burger Barn purchased produce for the week from one of its
suppliers. The business's accountant credited the Accounts Payable account
for $150. How will this purchase impact the balance sheet?
A. It will be subtracted from the total balance of Accounts Payable,
and then transferred to the Current Liabilities section of the
balance sheet.
B. It will be added to the total balance of Accounts Payable, and then
regarded as cash on hand on the balance sheet.
C. It will be added to the total balance of Accounts Payable, and then
transferred to the Current Liabilities section of the balance sheet.
D. It will be subtracted to the total balance of Accounts Payable, and
then regarded as cash on hand on the balance sheet.
Answer:
thanks bro your wrong the answer is
C.) it will be added to the total balance of accounts payable, and then transferred to the current liabilities section of the balance sheet.
Mercury Inc. purchased equipment in 2019 at a cost of $497,000. The equipment was expected to produce 580,000 units over the next five years and have a residual value of $33,000. The equipment was sold for $253,600 part way through 2021. Actual production in each year was: 2019 = 83,000 units; 2020 = 133,000 units; 2021 = 67,000 units. Mercury uses units-of-production depreciation, and all depreciation has been recorded through the disposal date.
Required:
1. Calculate the gain or loss on the sale.
2. Prepare the journal entry to record the sale.
3. Assuming that the equipment was instead sold for $280,000, calculate the gain or loss on the sale.
4. Prepare the journal entry to record the sale in requirement 3.
Answer:
1.
Gain or (Loss) on sale = (17000) Loss
2.
Cash 253600 Dr
Accumulated Depreciation 226400 Dr
Loss on Sale 17000 Dr
Equipment 497000 Cr
3.
Gain or (Loss) on sale = 9400 Gain
4.
Cash 280000 Dr
Accumulated Depreciation 226400 Dr
Gain on Sale 9400 Cr
Equipment 497000 Cr
Explanation:
We first need to calculate the carrying value of the equipment at the date of disposal. The carrying value is calculated as follows,
Carrying value = Cost - Accumulated depreciation
Depreciation 2019 = (497000 - 33000) * 83000 / 580000
Depreciation 2019 = 66400
Depreciation 2020 = (497000 - 33000) * 133000 / 580000
Depreciation 2020 = 106400
Depreciation 2021 = (497000 - 33000) * 67000 / 580000
Depreciation 2021 = 53600
Carrying value = 497000 - [ 66400 + 106400 + 53600 ]
Carrying value = $270600
1.
Gain or (Loss) on sale = Sales price - Carrying Value
Gain or (Loss) on sale = 253600 - 270600
Gain or (Loss) on sale = (17000) Loss
2.
Cash 253600 Dr
Accumulated Depreciation 226400 Dr
Loss on Sale 17000 Dr
Equipment 497000 Cr
3.
Gain or (Loss) on sale = Sales price - Carrying Value
Gain or (Loss) on sale = 280000 - 270600
Gain or (Loss) on sale = 9400 Gain
4.
Cash 280000 Dr
Accumulated Depreciation 226400 Dr
Gain on Sale 9400 Cr
Equipment 497000 Cr
Splish Corporation has retained earnings of $721,100 at January 1, 2020. Net income during 2020 was $1,562,700, and cash dividends declared and paid during 2020 totaled $79,000. Prepare a retained earnings statement for the year ended December 31, 2020. Assume an error was discovered: land costing $86,370 (net of tax) was charged to maintenance and repairs expense in 2019. (List items that increase retained earnings first.)
Answer and Explanation:
The preparation of the retained earnings statement is presented below:
Opening retained earning balance $721,100
Add: prior period adjustment $86,370
Add: net income $1,562,700
Less: dividend paid $79,000
Ending retained earnings $2,291,170
The above items would be added and deducted that increase and decrease the retained earnings balance
Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.
Year 1
a. Sold $1,352,600 of merchandise (that had cost $976,400) on credit, terms n/30.
b. Wrote off $20,100 of uncollectible accounts receivable.
c. Received $674,300 cash in payment of accounts receivable.
d. In adjusting the accounts on December 31, the company estimated that 2.80% of accounts receivable would be uncollectible.
Year 2
a. Sold $1,552,800 of merchandise (that had cost $1,325,200) on credit, terms n/30.
b. Wrote off $31,300 of uncollectible accounts receivable.
c. Received $1,282,200 cash in payment of accounts receivable.
d. In adjusting the accounts on December 31, the company estimated that 2.80% of accounts receivable would be uncollectible.
Required:
Prepare journal entries to record Liang's year 1 and year 2 summarized transactions and its year-end adjustments to record bad debts expense. (The company uses the perpetual inventory system and it applies the allowance method for its accounts receivable.)
Answer:
Liang Company
Journal Entries:
a. Debit Accounts receivable $1,352,600
Credit Sales revenue $1,352,600
To record the sale of goods on credit, terms n/30.
Debit Cost of goods sold $976,400
Credit Inventory $976,400
To record the cost of goods sold.
b. Debit Allowance for Uncollectible Accounts $20,100
Credit Accounts receivable $20,100
To write-off uncollectible accounts.
c. Debit Cash $674,300
Credit Accounts receivable $674,300
To record the receipt of cash on account.
d. Debit Bad Debts Expense $38,530
Credit Allowance for Uncollectible $38,530
To record bad debts expense and bring the ending balance of the Allowance for Uncollectible accounts to a credit balance of $18,430 (2.80% of accounts receivable ($658,200))
Year 2
a. Debit Accounts receivable $1,552,800
Credit Sales revenue $1,552,800
To record the sale of goods on credit, terms n/30.
Debit Cost $1,325,200
Credit Inventory $1,325,200
To record the cost of goods sold on account.
b. Debit Allowance for Uncollectible Accounts $31,300
Credit Accounts receivable $31,300
To write-off uncollectible accounts.
c. Debit Cash $1,282,200
Credit Accounts receivable $1,282,200
To record the receipt of payment on account.
d. Debit Bad Debts Expense $38,000
Credit Allowance for Uncollectible $38,000
To record bad debts expense and bring the ending balance of the Allowance for Uncollectible Accounts to a credit balance of $25,130 (2.80% of accounts receivable ($897,500))
Explanation:
Data and Analysis:
Year 1:
a. Accounts receivable $1,352,600 Sales revenue %1,352,600
on credit, terms n/30.
Cost of goods sold $976,400 Inventory $976,400
b. Allowance for Uncollectible Accounts $20,100 Accounts receivable $20,100
c. Cash $674,300 Accounts receivable $674,300
d. Bad Debts Expense $38,530 Allowance for Uncollectible $38,530 ending balance $18,430 (2.80% of accounts receivable ($658,200))
Year 2
a. Accounts receivable $1,552,800 Sales revenue $1,552,800
on credit, terms n/30.
Cost $1,325,200 Inventory $1,325,200
b. Allowance for Uncollectible Accounts $31,300 Accounts receivable $31,300
c.Cash $1,282,200 Accounts receivable $1,282,200
d. Bad Debts Expense $38,000 Allowance for Uncollectible $38,000
Ending balance $25,130 2.80% of accounts receivable ($897,500)
A band sells shirts, CDs, and other merchandise online. They are using Excel to track sales by date and by name
of the buyer. They would like for any purchases over $50 to be highlighted automatically so that they can send a
special gift to those buyers.
Which is the best way to make Excel automatically highlight these sales?
Answer:
its 3
Explanation:
Problem solving importance to the future of workplace
Answer:
ha hatdog cheese dog tatay mo sabog
Hill Corporation issued $2,100,000 of 8% bonds at 98 on January 2, 2019. Interest is paid semiannually on June 30 and December 31. The bonds had a 10-year life from the date of issue, and the company uses the straight-line method of amortization. On March 31, 2022, Hill recalls the bonds at the call price of 107 plus accrued interest.
Required:
Prepare the journal entries to record the reacquisition (recall) of Hill's bonds.
Answer:
Hill Corporation
Journal Entries
March 31, 2022:
Debit Bond Liability $2,247,000
Debit Interest Payable $42,000
Credit Cash $2,289,000
To record the recall of the bonds, including accrued interest.
Explanation:
a) Data and Calculations:
January 2, 2019: Face value of bonds issued = $2,100,000
Proceeds from the issue of the bonds at 98 = 2,058,000
Discount from the issue = $42,000
Semi-annual amortization under straight-line = $2,100 ($42,000/20)
Coupon interest rate = 8% with payment made semiannually
Annual interest payment = $168,000 ($2,100,000 * 8%)
Semiannual interest payment = $84,000 ($2,100,000 * 4%)
Bonds duration = 10 years
March 31, 2022 Recall price of 107 = $2,247,000
Accrued interest from January 1 to March 31 = $42,000
Total payment to bondholders = $2,289,000
2 Jodi owns 112 shares of stock selling for $16.20. How many more shares can she purchase after receiving a dividend of $0.80 por share? Round your answer to a whole number.
Answer:
The number of new shares = 6
Explanation:
Dividend is the proportion of profit paid by a company to its shareholder as a form of return on their investment. Another form of return on share investment is the capital gain; which is the difference between the selling price of a share now and its cost when it was purchased.
For Jodi, we need to first calculate the amount of dividends earned on the total shares she owns. And then divide the result by the current purchase price of a share to arrive at the number of shares she can buy more. This is done as follows:
Total dividends = 112× 0.80 = $89.6
Current price of a share = $16.20
THe number of shares that can be purchased= 89.6/16.20=5.5
The number of new shares = 6
Benson Company estimates its uncollectible accounts by aging its accounts receivable and applying percentages to various aged categories of accounts. Benson computes a total of $1,800 in estimated uncollectible accounts as of December 31, 2013. Its Accounts Receivable account has a balance of $56,400 and its Allowance for Doubtful Accounts has a credit balance of $300 before adjustment at December 31, 2013. How much bad debts expense will Benson report in 2013
Answer:
$1,500
Explanation:
With regards to the above, we would compute Benson's Company bad debt expense for 2013 as;
= Estimated uncollectible accounts as of 31, December 2013 - Credit balance in the allowance for doubtful account before adjustment at December 31, 2013.
= $1,800 - $300
= $1,500
Therefore, Benson Company would report $1,500 as bad debts expense in 2013.
Which of the following is NOT a correct statement about diversification? A) As Dr. Melton stated in class, most diversification benefits are realized with just 20 to 25 stocks. B) Diversification is the process of reducing the riskiness associated with individual assets by spreading an investment across numerous assets. C) There is no limit to the amount of risk that can be eliminated through diversification. D) Non-diversifiable risk is the only risk that matters to a diversified investor. E) None of the above.
Answer: C. There is no limit to the amount of risk that can be eliminated through diversification.
Explanation:
Diversification is referred to as the process of reducing the riskiness associated with individual assets such that an investment is spread across numerous assets.
All the options given in the question are correct about diversification except that "There is no limit to the amount of risk that can be eliminated through diversification".
There is a limit to the amount of risk that diversification can eliminate. We should note that the risk in the investment cannot be completely eliminated no matter how the economic agent diversifies their portfolio. Even though the risks are reduced, every stock are still affected by general market risks.
Recording Cash Dividends [LO 11-3 National Chocolate Corp. produces chocolate bars and snacks under the brand names Blast and Soothe. A press release contained the following information March 5-National Chocolate Corp. today announced that its Board of Directors has declared a special one-time" cash dividend of $1.20 per share on its 102,000 outstanding common shares. The dividend will be paid on April 29 to shareholders of record at the close of business on March 26. The Company's fiscal year will end April 30 Required 1. Prepare any journal entries that National Chocolate Corp. should make on the four dates mentioned in press release. (If no entry is required for a transaction/date, select "No Journal Entry Required" in the first account field.)
Answer and Explanation:
The journal entries are shown below:
On Mar-05
DIvidends $122,400 (102,000 shares × $1.20)
To Cash dividends payable $122,400
(Being declaration of the dividend is recorded)
On Mar-26
No entry should be recorded on the recording date
On Apr-29
Cash dividends payable $122,400
To Cash $122,400
(being payment of the cash dividend is recorded)
On Apr-30
Retained earnings $122,400
To Dividends $122,400
(Being closing of the dividend account is recorded)
The company is now using only 70% of its normal capacity; it could fully use its normal capacity by processing the assembly further and selling it for $51 per unit. If the company does this, material and labor costs will each increase by $2 per unit and variable overhead will go up by $1 per unit. Fixed costs will increase from the current level of $160,000 to $225,000.
Required:
Prepare an analysis showing whether Jensen should process the assemblies further.
Answer and Explanation:
The preparation of the analysis shows whether the assemblies should process further or not is presented below:
Differential revenue (38,000 units × ($51 - $44)) $266,000
Differential costs:
Direct material (38,000units × $2 per unit) ($76,000)
Direct labor (38,000units × $2 per unit) ($76,000)
Variable overhead (38,000units × $1 per unit) ($38,000)
Fixed costs ($160,000 - $225,000) ($65,000)
Additional income (loss) from processing further $11,000
Since the amount comes in positive so it should be processed further
Julie Convenience Store sold merchandise for cash to a customer, and recorded a debit to Cash for $371, which included a 6% Sales tax. In the same transaction, they must also: A) credit Sales Revenue for 300 B) credit Sales Tax Payable for $22.26 C) credit Sales Tax Payable for $21 D) credit Sales Revenue for $371 E) credit Sales Revenue for $393.26
Answer:
C) credit Sales Tax Payable for $21
Explanation:
Based on the information given In the same transaction, they must also CREDIT SALES TAX PAYABLE FOR $21 Calculated as:
First step is to calculate the sales tax element
Sales tax element = $371*6/106
Sales tax element= $21
Now let calculate what the Price exclusive of sales tax would be
Price exclusive of sales tax=$371-$21
Price exclusive of sales tax= $350
The correct journal entry should be:
Dr Cash $371
Cr Sales revenue $350
($371-$21)
Cr Sales tax payable $21
Factory Overhead Cost Variances The following data relate to factory overhead cost for the production of 8,000 computers: Actual: Variable factory overhead $101,750 Fixed factory overhead 180,000 Standard: 8,000 hrs. at $31 248,000 If productive capacity of 100% was 10,000 hours and the factory overhead cost budgeted at the level of 8,000 standard hours was $284,000, determine the variable factory overhead controllable variance, fixed factory overhead volume variance, and total factory overhead cost variance. The fixed factory overhead rate was $18 per hour. Enter a favorable variance as a negative amount, and an unfavorable variance as a positive amount. Variance Amount Favorable/Unfavorable Controllable $fill in the blank 1 Volume fill in the blank 3 Total factory overhead cost variance $fill in the blank 5
Answer:
Yes sir I am so so confused why you don’t want me to tell him I love lol you know that I’m a little bit scared you like I just want to see that you’re going crazy you ain’t doing anything wrong with your hair you are not even home I just want you to go see me again you have a lot been going on your phone and your mom you know that I’m going crazy lol oh my gosh you don’t look like and I’m sorry I’m sorry but you have no reason I just wanted to see if your dad would have you do you have any questions or you don’t want me too bad you know what
Explanation: what do I mean by your phone or your name on the sun and your name on the woods again I mean yyyyou and
Consider the following multiple regression models (a) to (d) below. DFemme = 1 if the individual is a female, and is zero otherwise; DMale is a binary variable which takes on the value one if the individual is male, and is zero otherwise; DMarried is a binary variable which is unity for married individuals and is zero otherwise, and DSingle is (1-DMarried). Regressing weekly earnings (Earn) on a set of explanatory variables.
Required:
Did you experience perfect multicollinearity in the following cases unless?
Answer:
The answer is "Option C"
Explanation:
Please find the complete question in the attachment file.
In this question except for choice c, all are incorrect which can be defined as follows:
It is inappropriate because when Dfemme and Dmale are paired together, it will core product multicollinearity. It's inaccurate because the sum of Dmarried and Dsingle equals 1 but produces ideal multicollinearity. It's also inaccurate since Dmarried and Dsingle, as well as Dfemme and Dmale, will all add up to one.Shirine has been debating between two career pathways in finance. She creates a Venn diagram to compare the two careers. In a Venn diagram, the separate circles contain characteristics unique to each item being compared and the intersection contains characteristics that are common to both items being compared. This is the Venn diagram that Shirine creates:
A Venn diagram.
Title 1 has Sets up and oversees customer accounts; Analyzes how much to grant in loans; Possible Careers: Teller, Loan Officer, Credit Checker.
Title 2 has Analyzes how to grow customers' money; Deals with securities and commodities; Possible Careers: Personal Finance Advisor, Treasurer, Risk Management Analyst. The area of overlap has Deals with money, Works with customers.
Which accurately labels the titles in Shirine’s diagram?
a) Title 1 should be Investment Career Pathway, and Title 2 should be Banking Career Pathway
b) Title 1 should be Banking Career Pathway, and Title 2 should be Investment Career Pathway
c) Title 1 should be Banking Career Pathway, and Title 2 should be Financial Management Career Pathway
d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway
Answer:
d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway
Explanation:
i believe its D but im not exactly sure
Answer:
D
Explanation:
Condensed financial data are presented below for the Phoenix Corporation: 20X2 20X1 Accounts receivable $ 267,500 $ 230,000 Inventory 312,500 257,500 Total current assets 670,000 565,000 Intangible assets 50,000 60,000 Total assets 825,000 695,000 Current liabilities 252,500 200,000 Long-term liabilities 77,500 75,000 Sales 1,640,000 Cost of goods sold 982,500 Interest expense 10,000 Income tax expense 77,500 Net income 127,500 Cash flow from operations 71,000 Cash flow from investing activities (6,000 ) Cash flow from financing activities (62,500 ) Tax rate 30 % If the intangible assets in 20X2 are $50,000, then the long-term debt to tangible assets for 20X2 is:
Answer:
Phoenix Corporation
The long-term debt to tangible assets for 20X2 is:
= 0.74.
Explanation:
a) Data and Calculations:
20X2 20X1
Accounts receivable $ 267,500 $ 230,000
Inventory 312,500 257,500
Cash 90,000 77,500
Total current assets 670,000 565,000
Intangible assets 50,000 60,000
Tangible assets 105,000 70,000
Total assets 825,000 695,000
Current liabilities 252,500 200,000
Long-term liabilities 77,500 75,000
Equity 495,000 420,000
Total liabilities/Equity 825,000 695,000
Income Statement for year 20X2
Sales 1,640,000
Cost of goods sold 982,500
Gross profit 657,500
Operating expenses 442,500
EBIT 215,000
Interest expense 10,000
Pretax income 205,000
Income tax expense 77,500
Net income 127,500
Statement of Cash Flows:
Cash flow from operations 71,000
Cash flow from investing activities (6,000 )
Cash flow from financing activities (62,500 )
Net cash flows = 2,500
Tax rate 30 %
Long-term debt to Tangible assets = 77,500/105,000 = 0.74
b) This ratio describes the percentage of the tangible assets financed by long-term debts. It is a financial leverage ratio. The computation compares the long-term debts to the tangible assets.
Hoyle Company owns a manufacturing plant with a fair value of $4,600,000, a recorded cost of $8,500,000, and accumulated depreciation of $3,650,000. Patterson Company owns a warehouse with a fair value of $4,400,000, a recorded cost of $6,900,000, and accumulated depreciation of $2,800,000. Hoyle and Patterson exchange assets, with Hoyle also receiving cash of $200,000 from Patterson. The exchange is considered to have commercial substance.
Required:
Record the exchange on the books of:
a. Hoyle
b. Patterson
Answer:
A. Hoyle
Dr Warehouse $4,400,000
Dr Cash $200,000
Dr Accumulated depreciation $3,650,000
Dr Loss on sale of asset $250,000
Cr Manufacturing plant $8,500,000
B. Patterson
Dr Manufacturing plant $4,600,000
Dr Accumulated depreciation $2,800,000
Cr Gain on sale of asset
$300,000
Cr Warehouse $6,900,000
Cr Cash $200,000
Explanation:
A. Preparation of the Jounal entry to Record the exchange on the books of Hoyle
Dr Warehouse $4,400,000
Dr Cash $200,000
Dr Accumulated depreciation $3,650,000
Dr Loss on sale of asset $250,000
(8,500,000-4,400,000-200,000-3,650,000)
Cr Manufacturing plant $8,500,000
B. Preparation of the Jounal entry to Record the exchange on the books of Patterson
Dr Manufacturing plant $4,600,000
Dr Accumulated depreciation $2,800,000
Cr Gain on sale of asset
$300,000
(4,600,000+2,800,000-6,900,000-200,000)
Cr Warehouse $6,900,000
Cr Cash $200,000
Ohio Swiss Milk Products manufactures and distributes ice cream in Ohio, Kentucky, and West Virginia. The company wants to expand operations by locating another plant in northern Ohio. The size of the new plant will be a function of the expected demand for ice cream within the area served by the plant. A mar-ket survey is currently under way to determine that demand. Ohio Swiss wants to estimate the relationship between the manufacturing cost per gallon and the number of gallons sold in a year to determine the demand for ice cream and, thus, the size of the new plant. The following data have been collected.
Plant Cost per Thousand Gallons (Y) Thousands of Gallons Sold (X)
1 $1,015 416.9
2 973 472.5
3 1,046 250
4 1,006 372.1
5 1,058 238.1
6 1,068 258,6
7 967 597
8 997 414
9 1,044 263.2
10 1,008 372
Total $10,182 3,654.40
Required:
a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons produced.
b. What are the correlation coefficient and the coefficient of determination? Comment on your regression equation in light of these measures.
c. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons peryear.
Answer:
a. The regression equation required is Y = 915.18 – 0.2819X.
b. b-1. Correlation coefficient (r) = –0.9423
b-2. Coefficient of determination = r^2 = 88.80%
b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.
c. The manufacturing cost per gallon is $823.56.
Explanation:
Note: See the attached excel file for the calculation of Mean of X and Y and other values.
a. Develop a regression equation to forecast the cost per gallon as a function of the number of gallons produced.
The regression can be written as follows:
Y = bo + b1X ………………… (1)
b1 = (Sum of (Y - Mean of Y) * (X - Mean of X)) / (Sum of (X - Mean of X)^2) = –34,273.08 / 121,585.14 = –0.2819
b0 = Mean of Y – (b1 * Mean of X) = 1,018.20 - (365.44 * 0.2819) = 915.18
Substituting b) and b1 values into equation (1), regression equation to forecast the cost per gallon as a function of the number of gallons produced can be written as follows:
Y = 915.18 – 0.2819X ……………………….. (2)
Equation (2) is the regression equation required.
b. What are the correlation coefficient and the coefficient of determination? Comment on your regression equation in light of these measures.
b-1. Correlation coefficient (r) can be calculated using the following formula:
r = (Sum of (Y - Mean of Y) * (X - Mean of X)) / ((Sum of (Y - Mean of Y)^2) * (Sum of (X - Mean of X)^2))^0.5 = –34,273.08 / (10,879.60 * 121,585.14)^0.5 = –0.9423
b-2. Coefficient of determination = r^2 = –0.94^2 = 0.8880, or 88.80%
b-3. The negative correlation coefficient of -0.9423 implies that increase in X mostly causes a decrease in Y. The coefficient of determination implies that 88.80% variation in Y is explained by X.
c. Suppose that the market survey indicates a demand of 325,000 gallons in the Bucyrus Ohio, area. Estimate the manufacturing cost per gallon for a plant producing 325,000 gallons per year.
Since X and Y are in thousands, 325,000 gallons implies we have:
X = 325
Substitute X = 325 into equation (2), we have:
Y = 915.18 - (0.2819 * 325)
Expressing in full form, we have:
Y = $823
Therefore, the manufacturing cost per gallon is $823.56.
Leandro Corp. manufactures wooden desks. Production consists of three processes: cutting, assembly, and finishing. The following costs are given for April: Cutting Assembly Finishing direct materials $7,000 $10,000 $3,000 direct labor 3,000 14,000 2,000 applied overhead 4,000 5,000 6,000 There were no work in process inventories and 1,000 podiums were produced. What is the cost transferred out of the assembly department. a.$29,000 b.$43,000 c.$54,000 d.$14,000 e.None of these choices are correct.
Answer:
a. $29,000
Explanation:
With regards to the above, the cost transferred out of the assembly department is computed as;
We would sum up all the cost associated with the Assembly department.
= Direct materials + Direct labor + Overhead
Direct materials = $10,000
Direct labor = $14,000
Overhead = $5,000
Therefore, cost transfered out of the assembly department is
= $10,000 + $14,000 + $5,000
= $29,000
Using information from the news article you read and your knowledge of economics, compose a paragraph in response to the article. Your comment on the article should state your opinion on government intervention. Use economic analysis to guide your opinions. In your writing, be sure to use proper grammar as well as a topic sentence and introductory and concluding statements.
Answer:
I commend the governments of Peachtree City and Fayette County for their recent intervention, which will be beneficial to our economy. Earlier, the city reduced the water level in the lake so that people who live on the lake could maintain the shoreline. When the council started to refill the lake, city staff noted problems with the dam and spillway and brought it to the attention of Fayette County. There were financial constraints to completing this project, but the Peachtree City government decided to spend additional money to finish the project. That was the right course of action. The residents’ properties (and property values) have been restored, and the lake will once again draw visitors to the town to enjoy the lake and spend money in our town’s businesses.
Explanation:
PLATO word for word, just in case <3
1. Which of the following is an example of inflation?
a. The price of lettuce increases by $0.40 a head overnight.
b. The price level of many things you buy increases over time.
c. The average price level of many things you buy decreased last year.
d. The prices of computers and cellphones increases.
Gray Company uses a plantwide overhead rate with machine hours as the allocation base. Use the following information to solve for the amount of machine hours estimated per unit of product Q.
Direct material cost per unit of Q $18
Total estimated manufacturing overhead $103,000
Total cost per unit of Q $72
Total estimated machine hours 206,000 MH
Direct labor cost per unit of Q $36
a. 40 MH per unit of Q.
b. 0.50 MH per unit of Q.
c. 0.75 MH per unit of Q.
d. 14.00 MH per unit of Q.
e. 24 MH per unit of Q.
Answer:
Machine hours per unit= 18 / 0.5= 36
Explanation:
First, we need to calculate the predetermined manufacturing overhead rate using the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 103,000 / 206,000
Predetermined manufacturing overhead rate= $0.5 per machine hour
Now, we need to determine the allocated overhead:
Unitary cost= direct material + direct labor + allocated overhead
72= 18 + 36 + allocated overhead
18= allocated overhead
Finally, the machine hours per unit:
Machine hours per unit= 18 / 0.5= 36
Clare, a florist, opened a new store and wanted to purchase a new refrigeration display cabinet for fresh-flower arrangements. She entered into a deal with Alpha Refrigeration Systems for two refrigeration units at $600 each. But, after delivering the units, the salesperson demanded another $100 as delivery charges, which was not mentioned in the deal. Identify the win-lose strategy used by the salesperson.
The question is incomplete:
Clare, a florist, opened a new store and wanted to purchase a new refrigeration display cabinet for fresh-flower arrangements. She entered into a deal with Alpha Refrigeration Systems for two refrigeration units at $600 each. But, after delivering the units, the salesperson demanded another $100 as delivery charges, which was not mentioned in the deal. Identify the win-lose strategy used by the salesperson.
-Good guy-bad guy routine
-Browbeating
-Red herring
-Trial balloon
-Lowballing
Answer:
-Red herring
Explanation:
-Goog buy-bad guy routine is a strategy in which one person appears to be on your side and when you get to an agreement, this person goes to the bad guy for approval who will renegotiate.
-Browbeating is a strategy in which the buyer tries to affect the saleperson atittude by saying unflattering things.
-Red herring is a strategy in which one of the parties tries to distract the other one from certain isues to get an advantage.
-Trial balloon is an strategy in which one of the parties says something to the other one to get information about its position in the negotiation.
-Lowballing is an strategy in which the buyer makes a really low offer to test the seller.
According to the definitions, the answer is that the win-lose strategy used by the salesperson is red herring because Clara didn't consider the information related to the delivery when purchasing the units as she was probably distracted by other aspects and didn't consider this.
Folklore Music manufactures harmonicas. Folklore uses standard costs to judge performance. Recently, a clerk mistakenly threw away some of the records, and only partial data for July exist. Folklore knows that the total direct labor variance for the month was $350 F and that the standard labor rate was $11 per hour. A recent pay cut caused a favorable labor rate variance of $0.40 per hour. The standard direct labor hours for actual July outputs were 5,910.
Required:
a. Find the actual number of direct labor hours worked during July. First, find the actual direct labor rate per hour. Then, determine the actual number of direct labor hours worked by setting up the computation of the total direct labor variance as given.
b. Compute the direct labor rate and efficiency variances. Do these variances suggest that the manager may have made trade-offs? Explain.
Answer: See explanation
Explanation:
a. The actual direct labor rate per hour will be:
= Standard direct labor rate per hour - favorable labor rate variance
= $11 - $0.40
= $10.60
Then, the actual direct labor hours worked during July will be calculated as:
= (5910 × $11) - $350 / $10.6
= ($65010 - $350) / $10.6
= $64660 / $10.6
= 6100
b. The direct labor rate variance will be:
= (Actual rate per hour - standard rate per hour) × Actual labor hours
= (10.60 - 11.00) × 6100
= 2440F
Direct labor efficiency variance will be:
= (6900 - 5910) × $11
= 2090U
The direct labor rate variance that was favorable shows that the manager paid a lower rate to its staffs while the direct labor efficiency variance that was unfavorable implies that the manager used less efficient workers. This indicates that a trade-off took place.
= (6900
Suppose that the reserve requirement for checking deposits is 20 percent and that banks do not hold any excess reserves. If the Fed sells $3 million of government bonds, the economy's reservesdecrease by $ million, and the money supply will by $ million. Now suppose the Fed lowers the reserve requirement to 15 percent, but banks choose to hold another 5 percent of deposits as excess reserves. True or False: The money multiplier will remain unchanged. True False True or False: As a result, the overall change in the money supply will remain unchanged. True False
Answer:
1. decrease, $ 3 million, decrease, $ 15 million
2. TRUE
3. TRUE
Explanation:
1. The reverse requirement is given as r = 0.2
The money multiplier is [tex]$\frac{1}{r}=\frac{1}{0.2}=5$[/tex]
Now when the monetary base is changed by $3 million, then the total money supply will change by [tex]$\frac{3}{0.2}= \$ 15 \ mn$[/tex].
Of the $ 15 mn, the reverse will change by $ 15 mn x 0.2 = $ 3 mn.
If Fed sells the government bond of $ 3 million, then the money supply will reduce and the economy's reverses will decrease by $ 3 million and the money supply will decrease by $ 15 million.
2. TRUE
Now if the bank reduces the reserve ratio but he bank maintains excess reserves, then the money multiplier = [tex]$\frac{1}{(r+e)}=\frac{1}{0.15+0.05}=5$[/tex]
Therefore, the money multiplier will remain same, it will remain unchanged.
3. TRUE.
Since the money multiplier remains constant, the overall change in money supply will not increase. It remains the same.
Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400. Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are an example of A. the failure to ignore sunk costs. B. rational consumer behavior. C. the endowment effect. D. the fallacy of composition.
Answer:
C. the endowment effect
Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents Which could be the heading of Carrie's balance sheet?
Carrie's Balance Sheet (January 1, 2021)
Carrie's Balance Sheet (January)
Carrie's Balance Sheet (Friday, January 3) Carrie's Balance Sheet (January 2011 - January 2021)
Answer: Carrie's Balance Sheet (January 1, 2021)
Explanation:
The heading of the balance sheet should include as much as possible, the month and year of the balance sheet. It can also include the exact date.
This is done so that the Balance sheet can have a particular reference date such that stakeholders who use the balance sheet can know relate the financial performance of the company as of a certain day which would enable for better analysis.
The heading of Carrie's balance sheet is: Carrie's Balance Sheet (January 2021).
What is balance sheet?Balance sheet help to summarize a company or an organization financial position or financial statement.
Since she is preparing the balance sheet for herself, what will be the heading of the balance sheet is Carrie's Balance Sheet (January 2021).
Therefore the heading of Carrie's balance sheet is: Carrie's Balance Sheet (January 2021).
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On the worksheet the adjusted balance of a contra asset account would be extended to:
Answer: the Balance Sheet Credit column.
Explanation:
A contra account is simply an asset account which has a credit balance, unlike the normal asset account that typically has a debit balance.
The two main types of contra account include the accumulated depreciation and the allowance for bad debt. We should note that on the worksheet the adjusted balance of a contra asset account would be extended to the credit column of the balance sheet.
Assume that a speculator purchases a put option on British pounds (with a strike price of $1.50) for $0.05 per unit. A pound option represents 31,250 units. Assume that at the time of the purchase, the spot rate of the pound is $1.51 and continually rises to $1.62 by the expiration date. The highest net profit possible for the speculator based on the information above is: Group of answer choices $1,562.50 -$1,250.00 -$625.00 -$1,562.50
Answer:
-$1,562.50
Explanation:
Calculation to determine The highest net profit possible for the speculator based
Premium of the option = $.05 per unit * (31,250 units)
Premium of the option= -$1,562.50
Therefore Based on the information given and the above calculation The HIGHEST NET PROFIT that will be possible for the speculator will be -$1,562.50