Answer:
the amount of the joint cost allocated is $76,712.32
Explanation:
The computation of the amount of the joint cost allocated is shown below"
= Processing cost × beta units ÷ (alpha units + beta units)
= $200,000 × 5,600 units ÷ (9,000 units + 5,600 units)
= $76,712.32
Hence, the amount of the joint cost allocated is $76,712.32
Aster Inc. has developed a new digital three-tier food steamer. Though the product comes with a self-explanatory manual, the controls and the operation of the appliance have to be explained to the customer on a one-to-one basis, in great detail. Which of the following elements of the promotional mix is Aster most likely to rely on to sell its products?
a. Advertising
b. Sales promotion
c. Public relations
d. Personal selling
Answer:
d. Personal selling
Explanation:
Personal selling would be the one of the component of the promotional mix where the person interact with the customers from face to face and explains the product with respect to its features, price, benefits, etc also at the same time customer could solve their doubts related to the product
So as per the given situation, the option d is correct
Uptown Bank provides lockbox services. They estimate that you can reduce your average mail time by 2.2 days and your combined clearing and processing time by .75 days by implementing their system. Your firm receives 65 checks a day with an average value of $298 each. The current T-Bill rate is .01 percent per day. Assume a 365-day year. The bank will charge your firm $.15 per check. What is the annual net savings from installing this system?
Answer: $1473.067
Explanation:
First, we calculate the total time that's saved by the firm when it installs the lockbox services. This will be:
= 2.2 days + 0.75 days
= 2.95 days
Then, the gross amount that the firm will save will be:
= 65 × 2.95 × 298 × 0.01%
= $5.7142 per day
Since the bank charges the firm $0.15 per check and the firm receives 65 checks per day, the total cost to the firm will then be:
= 65 × $0.15
= $9.75 per day
The net loss will then be calculated as:
= $9.75 - $5.7142
= $4.0358 per day
Then, to get that for annual, we multiply the above value by 365. This will be:
= $4.0358 × 365
= $1473.067 per annum.
Trade policies a. alter the trade balance because they alter imports of the country that implemented them. b. do not alter the trade balance because they cannot alter the real exchange rate of the currency of the country that implements them. c. alter the trade balance because they alter net capital outflow of the country that implemented them. d. do not alter the trade balance because they cannot alter the national saving or domestic investment of the country that implements them.
Sandhill Co. provides the following information about its postretirement benefit plan for the year 2020. Service cost $ 43,200 Contribution to the plan 9,100 Actual and expected return on plan assets 10,900 Benefits paid 19,100 Plan assets at January 1, 2020 101,400 Accumulated postretirement benefit obligation at January 1, 2020 321,800 Discount rate 8 % Compute the postretirement benefit expense for 2020.
Answer:
The correct answer is "58,044".
Explanation:
The given values are:
Service cost,
= $43,200
Accumulated postretirement benefit obligation,
= 321,800
Actual and expected return,
= 10,900
Discount rate,
= 8%
The interest cost will be:
= [tex]321,800\times 8 \ percent[/tex]
= [tex]25,744[/tex]
The Postretirement benefit expense will be:
= [tex]Service \ cost +Interest \ cost-Actual \ and \ expected \ return[/tex]
= [tex]43,200+25,744-10,900[/tex]
= [tex]58,044[/tex]
gooQS 8-1 Cost of plant assets LO C1 Kegler Bowling buys scorekeeping equipment with an invoice cost of $160,000. The electrical work required for the installation costs $16,800. Additional costs are $3,360 for delivery and $11,530 for sales tax. During the installation, the equipment was damaged and the cost of repair was $1,550. What is the total recorded cost of the scorekeeping equipment
Answer:
$180,160
Explanation:
Calculation of Cost of scorekeeping equipment
Purchase Price $160,000
Installation Cost $16,800
Delivery Cost $3,360
Total Cost $180,160
Note Sales Tax and Costs incurred subsequently after asset is put to use is excluded from Cost of Asset.
Therefore,
the total recorded cost of the scorekeeping equipment is $180,160.
A mining company is evaluating when to open a gold mine. The mine has 100,000 ounces of gold left that can be mined and mining operations will produce 10,000 ounces per year. The price of gold from the mine will be guaranteed for the remaining life of the mine through the gold futures contracts. If the mine is opened today, each ounce of gold will generate an after-tax cash flow (= total or net cash flow) of $1,300 per ounce. If the company waits one year, there is a 70 percent probability that the contract price will generate an after-tax cash flow of $1,550 per ounce and a 30 percent probability that the after-tax cash flow will be $1,200 per ounce. The required return on the gold mine is 15 percent and it will cost $30,000,000 to open the mine regardless of whether the mine is open today or in one year. Compute the value of the option to wait today.
Answer:
The value of the option to wait today = $2,500,000
Explanation:
a) Data and Calculations:
Quantity of gold left in the mine = 100,000 ounces
Quantity of gold to be produced yearly = 10,000 ounces
Estimated life of mine = 10 years (100,000/10,000)
After-tax cash flow if mine is opened today = $1,300 per ounce
After-tax cash flow if mine is opened a year later:
Expected value = ($1,550 * 70%) + ($1,200 * 30%) = $1,325 per ounce
Comparison of the values of opening options:
Mine opened Mine opened
today a year later
After-tax cash flow per ounce $1,300 $1,325
Quantity of gold in the mine 100,000 100,000
Total after-tax cash flows $130,000,000 $132,500,000
Cost of opening mine 30,000,000 30,000,000
Required return (15%) 4,500,000 4,500,000
Actual returns from mine $100,000,000 $102,500,000
Therefore, the value of option to wait:
Returns from mine opened next year = $102,500,000
Returns from mine opened today = 100,000,000
Value of the option to wait today = $2,500,000
Danks Corporation purchased a patent for $405,000 on September 1, 2019. It had a useful life of 10 years. On January 1, 2021, Danks spent $99,000 to successfully defend the patent in a lawsuit. Danks feels that as of that date, the remaining useful life is 5 years. What amount should be reported for patent amortization expense for 2021?
Answer:
Amortization Expense for year 2021 $90,000
Explanation:
The computation of the amount that should be reported for patent amortization for the year 2021 is shown below:
But before that following calculations need to be done
The value of the patent as of 31st Dec, 2020
Purchase Value as of Sep 1,2019 $405000
Less:- Amortization Expense for the year 2019 $13,500
($405000 ÷ 10 × 4 ÷ 12)
Less:- amortization expense for the year 2020 $40500 ($405,000 ÷ 10)
Value of patent as on 1st Jan, 2021 $351,000
Add:- fees to defend $99000
New Book Value for the year 2021 $450,000
Now Remaining Useful Life 5 years
So,
Amortization Expense for year 2021 $90,000 ($450,000 ÷ 5)
Drag each label to the correct location on the image.
Identify the features of stocks and bonds.
There are various types of investments. The most common type of investments are Bonds and Stocks.
What is difference between Bond and Stock?A bond is an investment which is considered as less risky because it provides fixed coupon rate as return.
A Stock is considered as risky investment because its returns vary.
The features of Bond are : It has Coupon rate, Face value and Maturity date
The features of Stock are : It has Closing Price
Learn more about bonds at https://brainly.com/question/13961163
#SPJ2
Answer:
stock- closing price; bond- coupon rate, face value, maturity date
Explanation:
Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company: Apr. 2. Swan Company sold merchandise on account to Bird Company, $19,900, terms FOB shipping point, 1/10, n/30. Swan Company paid freight of $435, which was added to the invoice. The cost of the merchandise sold was $12,500. 8. Swan Company sold merchandise on account to Bird Company, $25,000, terms FOB destination, 2/15, n/30. The cost of the merchandise sold was $15,000. 8. Swan Company paid freight of $650 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,200, terms FOB shipping point, n/45. The cost of the merchandise sold was $6,700. 26. Bird Company paid freight of $280 on April 24 purchase from Swan Company. Required: 1. Journalize the April transactions for Bird Company (the buyer). If an amount box does not require an entry, leave it blank.
Answer:
1. Bird Company (Buyer)
Apr-02 Dr Merchandise Inventory $20,335
Cr Accounts Payable $20,335
Apr-08 Dr Merchandise Inventory $25,000
Cr Accounts Payable $25,000
Apr-08 No entry
Apr-12 Dr Accounts Payable $20,335
Cr Cash $19,937
Cr Merchandise Inventory $ 398
Apr-18 Dr Cash $ 2,000
Cr Merchandise Inventory $ 2,000
Apr-23 Dr Accounts Payable $25,000
Cr Cash $24,750
Cr Merchandise Inventory $ 250
Apr-24 Dr Merchandise Inventory $11,200
Cr Accounts Payable $11,200
Apr-26 Dr Merchandise Inventory $280
Cr Cash $280
2.Swan Company (Seller)
Apr-02 Dr Accounts Receivable $20,335
Cr Sales Revenue $19,900
Cr Cash $435
Dr Cost of Goods Sold $12,500
Dr Merchandise Inventory $12,500
Apr-08 Dr Accounts Receivable $ 25,000
Cr Sales Revenue $ 25,000
Dr Cost of Goods Sold $15,000
Cr Merchandise Inventory $15,000
Apr-08 Dr Delivery Expense $650
Cr Cash $650
Apr-12 Dr Cash $19,937
Dr Sales Discounts $ 398
Cr Accounts Receivable $20,335
Apr-18 Dr Sales Returns and allowances $ 2,000
Cr Cash $ 2,000
Apr-23 Dr Cash $ 24,750
Dr Sales Discounts $ 250
Cr Accounts Receivable $25,000
Apr-24 Dr Accounts Receivable $11,200
Cr Sales Revenue $11,200
Dr Cost of Goods Sold $6,700
Cr Merchandise Inventory $6,700
Apr-26 No entry
Explanation:
1. Preparation of the journal entry for Bird Company (the buyer).
Bird Company (Buyer)
Apr-02 Dr Merchandise Inventory $20,335
Cr Accounts Payable $20,335
($19,900+$435)
Apr-08 Dr Merchandise Inventory $25,000
Cr Accounts Payable $25,000
Apr-08 No entry
Apr-12 Dr Accounts Payable $20,335
($19,900+$435)
Cr Cash $19,937
($20,334-$398)
Cr Merchandise Inventory $ 398
($19,900*2%)
Apr-18 Dr Cash $ 2,000
Cr Merchandise Inventory $ 2,000
Apr-23 Dr Accounts Payable $25,000
Cr Cash $24,750
($25,000-$250)
Cr Merchandise Inventory $ 250
(1%*$25,000)
Apr-24 Dr Merchandise Inventory $11,200
Cr Accounts Payable $11,200
Apr-26 Dr Merchandise Inventory $280
Cr Cash $280
2. Preparation of the journal entry for Bird Company the (Seller).
Swan Company (Seller)
Apr-02 Dr Accounts Receivable $20,335
($19,900+$435)
Cr Sales Revenue $19,900
Cr Cash $435
Dr Cost of Goods Sold $12,500
Dr Merchandise Inventory $12,500
Apr-08 Dr Accounts Receivable $ 25,000
Cr Sales Revenue $ 25,000
Dr Cost of Goods Sold $15,000
Cr Merchandise Inventory $15,000
Apr-08 Dr Delivery Expense $650
Cr Cash $650
Apr-12 Dr Cash $19,937
($20,335-$398)
Dr Sales Discounts $ 398
(2%*$19,900)
Cr Accounts Receivable $20,335
(19,900+435)
Apr-18 Dr Sales Returns and allowances $ 2,000
Cr Cash $ 2,000
Apr-23 Dr Cash $ 24,750
Dr Sales Discounts $ 250
(1%*25,000)
Cr Accounts Receivable $25,000
Apr-24 Dr Accounts Receivable $11,200
Cr Sales Revenue $11,200
Dr Cost of Goods Sold $6,700
Cr Merchandise Inventory $6,700
Apr-26 No entry
Management of Wee Ones (WO), an operator of day-care facilities, wants the company's profit to be subdivided by center. The firm's accountant has provided the following data: Center Budgeted Revenue Actual Revenue Budgeted Direct Costs Actual Direct Costs Downtown $ 320,000 $ 340,200 $ 300,000 $ 300,000 Irvine 560,000 534,600 510,000 440,000 H. Beach 720,000 745,200 690,000 740,000 Totals $ 1,600,000 $ 1,620,000 $ 1,500,000 $ 1,480,000 WO's advertising, which is handled by the home office, is not reflected in the preceding figures and amounted to $60,000. Assume that management used the allocation base that is most influenced by advertising effort and consistent with sound managerial accounting practices. How much advertising would be allocated to the Irvine center
Answer: $19,800
Explanation:
Actual Revenue would be the most appropriate base to use because it is the most influenced by advertising effort and sound managerial practices.
Total actual revenue from all centers is $1,620,000.
Actual revenue for Irvine center is $534,600.
Advertising expenses to Irvine would be:
= Advertising cost * Actual revenue for Irvine / Total actual revenue for all centers
= 60,000 * 534,600 / 1,620,000
= $19,800