Answer:
the budgeted direct labor cost per unit is $54
Explanation:
The computation of the budgeted direct labor cost is shown below:
= Required number of direct labor hours × rate per direct labor hour
= 3.6 hours × $15
= $54
hence, the budgeted direct labor cost per unit is $54
We simply multiplied the two items so that the budgeted direct labor cost per unit could come
Select all the correct answers.
Ray has six hours before he goes to bed on a school night. He plans to spend an hour surfing the Internet, two hours playing his favorite
game, two hours watching TV, and one hour doing his homework. However, some of the math problems in his homework are extremely
difficult, and it will take him more than two hours to finish them. He knows his teacher won't give him any credit for the work unless it's
completely finished, and it's Important that he get good grade in the class. Which of these options for dealing with this situation are a
trade-off of Ray's time?
O He will spend only one hour on homework and leave out what he can't finish.
D He will spend one extra hour on homework and give up watching TV.
0
He will finish his homework while he is watching TV.
O He will play his favorite game for one hour and do homework for two hours.
0
He will ask his brother to help him with his homework.
Answer:
the answer is c.) he will play his favorite game for one hour and do his homework for two hours
Taxon Corp. granted restricted stock units (RSUs) representing 70 million of its $1 par common shares to executives, subject to forfeiture if employment is terminated within five years. After the recipients of the RSUs satisfy the vesting requirement, the company will distribute the shares. The common shares had a market price of $12 per share on the grant date. Ignoring taxes, what is the effect on earnings in the year after the shares are granted to executives
Answer:
$168 million
Explanation:
Calculation to determine effect on earnings in the year after the shares are granted to executives
First step is to calculate the Fair value of shares represented by RSUs
Using this formula
Fair value of shares represented by RSUs=fair value per share×shares represented by RSUs shares granted
Let plug in the formula
Fair value of shares represented by RSUs=12 x 70million
Fair value of shares represented by RSUs=$840million
Now let calculate the effect on earnings
Using this formula
Effect on earnings=Fair value of shares represented by RSUs/Vesting period
Let plug in the formula
Effect on earnings= $840 million/5 years
Effect on earnings=$168 million
Therefore effect on earnings in the year after the shares are granted to executives is $168 million
The degree of customer contact measuresthe amount of time the customer is separated from the service delivery system.the amount of time the customer is in the service delivery system.the customization abilities of the service system.The content of service-product bundle.
Answer:
the amount of time the customer is in the service delivery system.
Explanation:
In the case when there is a degree of contacting the customer determined that the value of the time that the customer would be in the system that represent the delivery of the service at the time when the service is generally produced or
So as per the given situtaion, the above statement represent the answer
Miscavage Corporation has two divisions: the Beta Division and the Alpha Division. The Beta Division has sales of $305,000, variable expenses of $153,600, and traceable fixed expenses of $70,800. The Alpha Division has sales of $615,000, variable expenses of $337,800, and traceable fixed expenses of $132,700. The total amount of common fixed expenses not traceable to the individual divisions is $134,200. What is the company's net operating income
Answer:
$2,000
Explanation:
net operating income = total contribution - common fixed expenses
mvk industries just paid a dividend of $1.70 that is expected to grow at 45% per year for the next three years at a constant rate of 5.5%.If the required return on the stock is 12%, what should be the current price of the stock> g'
Answer:
$27.59
Explanation:
Calculation to determine what should be the current price of the stock
Current price of common stock=(1.70*(1+5.5%))/(12%-5.5%)
Current price of common stock=(1.70*1.055)/0.065
Current price of common stock=1.7935/0.065
Current price of common stock=$27.59
Therefore what should be the current price of the stock is $27.59
Olsen Company paid or collected during 2020 the following items: Insurance premiums paid $ 30,800 Interest collected 69,800 Salaries paid 280,400 The following balances have been excerpted from Olsen's balance sheets: December 31, 2020 December 31, 2019 Prepaid insurance $ 2,400 $ 3,000 Interest receivable 7,400 5,800 Salaries and wages payable 24,600 21,200 The interest revenue recorded in the income statement for 2020 was
Answer:
See below
Explanation:
Given the above information, first we will calculate the current year expenses paid in the current year
= $280,400 - $21,200
= $259,200
Next is to compute expense of current year not paid
= $259,200 + $24,600
= $283,800
Q:
What type of policy does the Fed use to counteract a contraction?
A:
1. О fiscal policy
2. policy lags
3. expansionary monetary policy
4. contractionary monetary policy
Answer:
3. expansionary monetary policy
Explanation:
To help accomplish this during recessions, the Fed employs various monetary policy tools in order to suppress unemployment rates and re-inflate prices. These tools include open market asset purchases, reserve regulation, discount lending, and forward guidance to manage market expectations.
A perfectly elastic demand curve implies that the firm Select one: a. The demand curve for a purely competitive firm is downsloping, but the demand curve for a purely competitive industry is perfectly elastic. b. The demand curves are perfectly elastic for both a purely competitive firm and a purely competitive industry. c. The demand curves are downsloping for both a purely competitive firm and a purely competitive industry. d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.
Answer: d. The demand curve for a purely competitive firm is perfectly elastic, but the demand curve for a purely competitive industry is downsloping.
Explanation:
In a purely competitive market, all the firms are selling the same product so there is a lot of competition. The market sets the price in this industry at the point where quantity demanded equals quantity supplied and the demand curve for the whole industry is downward sloping.
When it comes to the demand curve for the individual firm however, it is elastic because price is not set by the firm. This perfectly elastic demand shows that if the firm tries to sell at a price that is different from the market, quantity demanded from that firm would change by infinity because people would prefer the market price.
Jimmy is an employee of Roofing, Inc., which is performing a contract for the federal government. Jimmy learns that Roofing, Inc. has been overcharging for the work. If he publicly reports the fraud, the Whistle-Blower law may protect him from being fired from his job. With respect to the employment-at-will doctrine, this is
Answer:
An exception based on public policy.
Explanation:
Employment at will according to the United States is a doctrine that permits the employer and employee to work together in an indefinite period of time, whereas they are able to terminate their contract with any necessary fair clause.
In many counties around the world, employers always look for reasons to terminate or stop their employees from working, whereas an exception based on public policy negate this doctrine.
Blue Lite manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at $2 per pound. During November 500 pounds of raw materials costing $4 per pound were used in making 450 weather vanes. The materials price and quantity variance are: Group of answer choices
Answer: See explanation
Explanation:
The material price variance will be calculated as:
= (Standard price - Actual price) × Actual quantity of material used
= ($2 - $4) × 500
= -$2 × 500
= $-1000
= $1000 Unfavourable
The material quantity variance will be:
= Standard quantity - Actual quantity) × Standard price
=[(450 × 2) -500] × $2.00
= (900 - 500) × $2.00
= 400 × $2.00
= $800 Favorable
3. Why are customers' buying motives sometimes difficult to determine?
Midyear on July 31st, the Digby Corporation's balance sheet reported: Total Liabilities of $25.521 million Cash of $2.010 million Total Assets of $41.309 million Total Common Stock of $1.270 million. What were the Digby Corporation's retained earnings
Answer: $14.518 million
Explanation:
Based on he information given, we have to calculate the owner's equity first which will be:
= Assets - Liabilities
= $41.309 million - $25.521 million
= $15.788 million
Since Owners equity is the addition of the total common stock and the retained earnings. Therefore, retained earnings will be:
= Owners equity - Total common stock
= $15.788 million - $1.270 million
= $14.518 million
The retained earning is $14.518 million
Use the following information to perform the calculations below (using the indirect method).
Net income $650,000 Beginning accounts payable $121,000
Depreciation expense 96,000 Ending accounts payable 159,000
Beginning accounts receivable 423,200 Purchase of long-term assets 610,000
Ending accounts receivable 446,000 Issuance of long-term debt 263,000
Beginning inventory 520,000 Issuance of stock for cash 188,000
Ending inventory 577,000 Issuance of stock for long-term assets 113,000
Beginning prepaid insurance 41,600 Purchase of treasury stock 67,500
Ending prepaid insurance 50,000 Sale of long-term investment at cost 57,500
Required:
a. Calculate the amount of cash flows from operating activities.
b. Calculate the amount of cash flows from investing activities.
Answer:
a) cash flow from operating activities
net income $650,000
adjustments:
depreciation expense $96,000
accounts payable $38,000
accounts receivable -$22,800
inventory -$57,000
prepaid insurance -$8,400
net cash flow from operating activities $695,800
b) cash flow from investing activities
Sale of long term investments $57,500
Purchase of long term assets -$610,000
Long term assets exchanged for common stocks $113,000
net cash flow from investing activities -$439,500
Sue purchased a stock for 45 a share, held it for one year received a 2.34 divided and sold the stock for 46.45. what nominal rate of return did she earn?
Answer:
8.4
Explanation:
nominal return - price return + dividend yield
price return = 46.45 /45 - 1 = 3.2%
dividend yield = 2.34 / 45 = 5.2%
Company has projected the following cash flows: Year 1: 85,000; Year 2: 105,000; Year 3: 109,000; Year 4: 115,000. The valuator has determined an appropriate discount rate is 26% and the long-term growth rate is 2%. Using the Gordon Growth Model, what is the present value of the company's terminal value
Answer:
193,912
Explanation:
First and foremost, the terminal value also known as horizon value is the cash flows for the company beyond year 4 to infinity, in other words, the cash flows attributed to all periods after the first 4 years whose cash flows were highlighted.
The formula for terminal value is provided below:
TV=Year 4 cash flow*(1+ long-term growth rate)/(discount rate- long-term growth rate)
Year 4 cash flow=115,000
long-term growth=2%
discount rate=26%
terminal value=115,000*(1+2%)/(26%-2%)
terminal value=488,750
The terminal value is stated in year 4 terms, hence, needs to be discounted 4 years backward in order to determine its present value:
PV of terminal value=488,750/(1+26%)^4
PV of terminal value= 193,912
In the current year, the not-for-profit organization (NFP) How to Read Government Financial Reports received both cash of $1,000 and pledges of $2,000 to be used for teaching citizens how to read government financial reports. During the year the organization spent $1,500 teaching citizens to read financial statements. Assuming the NFP has a policy of spending its restricted resources first, in the current year what amount of contributions can be reclassified as unrestricted
Answer:
$ 1,000
Explanation:
When the NFP organizations spends any amount of money for the purpose of an external donor that is intended, the expense is reported as the decrease in the unrestricted of net assets.
In the context, it is given that cash received = $ 1000
Pledges to be used for the teaching citizens for the financial reports = $ 2,000
Amount spent by the organization = $ 1500
Therefore, as per the policy of the spending in the restricted resources, the amount of contributions in the current year that can be reclassified as unrestricted amount = $ 1,000.00
Ingrid Inc. has strict credit policies and only extends credit to customers with outstanding credit history. The company examined its accounts and determined that at January 1, 2019, it had balances in Accounts Receivable and Allowance for Doubtful Accounts of $478,000 and $7,900 (credit), respectively. During 2019, Ingrid extended credit for $3,075,000 of sales, collected $2,715,000 of accounts receivable, and had customer defaults of $4,280. Ingrid performed an aging analysis on its receivables at year end and determined that $6,800 of its receivables will be uncollectible.
Required:
a. Calculate Ingrid's balance in accounts receivable on December 31, 2018, prior to the adjustment.
b. Calculate Ingrid's balance in allowance for doubtful accounts on December 31, 2018, prior to the adjustment.
c. Prepare the necessary adjusting entry for 2018.
Answer:
Ingrid Inc.
a. Ingrid's balance in accounts receivable on December 31, 2018, prior to the adjustment is:
= $833,720.
b. Ingrid's balance in allowance for doubtful accounts on December 31, 2018, prior to the adjustment is:
= $6,800.
c. Adjusting Entry:
Debit Bad Debts Expense $3,180
Credit Allowance for Doubtful Accounts $3,180
To record the bad debts expense for the year and bring the balance of the Allowance for Doubtful Accounts to a credit balance of $6,800
Explanation:
a) Data and Calculations:
January 1, 2019 balances:
Accounts Receivable $478,000
Allowance for Doubtful Accounts $7,900 (credit)
Accounts Receivable $3,075,000 Sales Revenue $3,075,000
Cash $2,715,000 Accounts Receivable $2,715,000
Allowance for Doubtful Accounts $4,280 Accounts Receivable $4,280
Ending balance:
Allowance for Doubtful Accounts $6,800 (Credit)
T-Accounts
Account Titles Debit Credit
Beginning balance $478,000
Sales Revenue $3,075,000
Cash $2,715,000
Allowance for Doubtful Accounts $4,280
Ending balance $833,720
Allowance for Doubtful Accounts
Account Titles Debit Credit
Beginning balance $7,900
Accounts Receivable $4,280
Bad Debts Expense 3,180
Ending balance $6,800
Steve Pratt, who is single, purchased a home in Spokane, Washington, for $347,500. He moved into the home on February 1 of year 1. He lived in the home as his primary residence until June 30 of year 5, when he sold the home for $705,000. (Leave no answer blank. Enter zero if applicable.) a. What amount of gain will Steve be required to recognize on the sale of the home
Answer: $107,500
Explanation:
There is an "Exclusion of gain on sale of home" provision by the IRS that allows for a single tax payer to exclude up to $250,000 from the sale of their primary home. A home qualifies as primary if the owner has lived in it for 2 years or more so Steve's home here is a primary home.
The gain he received was:
= 705,000 - 347,500
= $357,500
From this gain, $250,000 can be excluded so total gain recognized:
= 357,500 - 250,000
= $107,500
n a continuous review system, the average daily demand for a part is Normally distributed with mean 20 and standard deviation of 4. The lead time to receive the part from the time it is ordered is 9 days. The appropriate re-order point for this part if we want a 95% service level is a. 200 b. 20 c. 180 d. 184
Answer: 200
Explanation:
Based on the information given in the question, the appropriate re-order point for this part if we want a 95% service level will be:
Mean demand = 20
Standard deviation of demand = 4
Lead time = 9 days
Service level = 95% = 95/100 = 0.95
Re-order Point will be:
= (demand × lead time) + (z* × std dev × ✓leadtime)
= (20 × 9) + (1.645 × 4 × ✓9)
= (180) + (1.645 × 4 × 3)
= 199.74
= 200 approximately
The re-order point is 200
R. Sheridan Co. uses special journals and a general journal. The following transactions occurred during May 2020.
May 1 R. Sheridan invested $46,800 cash in the business.
2 Sold merchandise to Lawrie Co. for $6,470 cash. The cost of the merchandise sold was $4,300.
3 Purchased merchandise for $7,450 from J. Moskos using check no. 101.
14 Paid salary to H. Rivera $900 by issuing check no. 102.
16 Sold merchandise on account to K. Stanton for $810, terms n/30. The cost of the merchandise sold was $605.
22 A check of $8,830 is received from M. Mangini in full for invoice 101; no discount given.
Prepare a multiple-column cash receipts journal _______ for May that should be journalized. (Record entries in the order presented in the problem.
Answer:
The journal entries will be recorded as follows
Explanation:
1. DR Cash $46,800
CR Capital $46,800
2. DR Sales $6,470
CR Inventory $4,300
CR Profit $2,170
3. DR Inventory $7,450
CR Bank $7,450
14. DR Salaries Expense $900
CR Bank $900
16. DR Account Receivable $810
CR Inventory $605
CR Profit $205
22. DR Cash $8,830
CR Accounts Receivable $8,830
When Americans or Europeans expect the return on ________ assets to be high relative to the return on ________ assets, there is a ________ demand for dollar assets, everything else held constant. euro; dollar; higher dollar; euro; constant euro; dollar; lower dollar; euro; lower
Answer:
When Americans or Europeans expect the return on ___euro_____ assets to be high relative to the return on ___dollar_____ assets, there is a ___low_____ demand for dollar assets, everything else held constant.
Explanation:
This implies that the euro assets are earning more profits than the dollar assets, making the euro assets more attractive to American or European investors than the dollar assets. This follows the natural law of the market forces of demand and supply. Investors are always attracted to better yielding assets than their comparatives.
Yasmin Company manufactures luggage sets. Yasmin sells its luggage sets to department stores. Yasmin expects to sell 1,750 luggage sets for $210 each in January and 2,000 luggage sets for $210 each in February. All sales are cash only. Prepare the sales budget for January and February.
Answer:
January = $367,500
February = $420,000
Explanation:
The Sales Budget shows the Estimated Revenue for a Particular Period.
Estimated Revenue = Units Sold x Unit Price
therefore,
January = $367,500
February = $420,000
Price skimming works best for which type of product?
how could competition policy undo the wrongs of the past and make south Africa a better place
If Jerry deposits $462 of cash in a checking account in the Tenth National Bank, what's the maximum change in the money supply in the economy
Answer:
$4620
Explanation:
It is assumed that the required reserve is 10%
Reserve requirement is the portion of deposit received by banks that the central bank requires to be kept as deposit.
Increase in the total value of checkable deposit is determined by the money multiplier
Money multiplier = amount deposited / reserve requirement
462 /0,1 = $4620
Henri Fayol and his14-principles of management, was a major contributor to which of the following classical approaches: Group of answer choices Systematic Management Scientific Management Bureaucracy Administrative Management Human Relations
Answer:
Administrative Management
Explanation:
Is the transportation model an example of decision making under certainty or decision making under uncertainty
Answer: Transportation model is an example of decision making under certainty
Explanation:
Decision under certainty means the person taken those decision can predict the outcome. Transportation model is a certain model, everyone getting involved with transportation understand the cost, the route, the destination of where they are involving themselves into. It is a fixed process and not one which takes the user by surprise
You are considering the purchase of a $ par value bond with a coupon rate of % (with interest paid semiannually) that matures in years. If the bond is priced to yield %, what is the bond's current price?
Answer:
$885.65
Explanation:
Missing word "You are considering the purchase of a $1,000 par value bond with an 6.5% coupon rate (with interest paid semiannually) that matures in 12 years. If the bond is priced to provide a required return of 8%, what is the bond’s current price?"
Rate = 8% / 2
Nper = 12 * 2 = 24
Pmt = 1,000 * 6.5% / 2 = 32.5
FV = 1,000
Bond's current price = PV(rate, nper, pmt, fv)
Bond's current price = PV(8%/2, 24. 32.5, 1000)
Bond's current price = $885.65
So, the bond's current price is $885.65
Tamiko prefers to buy bottled water instead of soda because water provides
more health benefits. What would an economist call her choice?
O A. Opportunity costs
O B. Variable rates
C. Taxation benefits
D. Recession mentality
g On January 1, 2020, Fotso Corporation issued 5 year bonds with a face value of $200,000 and coupon rate of 12% interest, payable semiannually on June 30 and December 31. The market rate of interest at the time of issuance was 14%, and the bonds were issued at a discount of $14,047. Using the effective-interest method, the amount of discount that should be amortized on December 31, 2020, is
Answer:
amortization of bond discount December 31 = $1,087.88
Explanation:
bonds' issue price = $200,000 - $14,047 = $185,953
amortization of bond discount June 30 = ($185,953 x 7%) - ($200,000 x 6%) = $1,016.71
amortization of bond discount December 31 = ($186,969.71 x 7%) - ($200,000 x 6%) = $1,087.88
total interest expense Decmber 31 = $13,087.88