Lowell Corporation paid $80,000 to acquire all of Boston Company's net assets. Boston reported assets with a book value of $60,000 and fair value of $98,000 and liabilities with a book value and fair value of $23,000 on the date of combination. Lowell also paid $3,000 to a search firm for finder's fees related to the acquisition. What amount will be recorded as goodwill by Lowell Corporation while recording its investment in Boston

Answers

Answer 1

Answer:

Lowell Corporation

The amount that will be recorded as goodwill by Lowell Corporation to record its investment in Boston is:

= $5,000.

Explanation:

a) Data and Calculations:

Investment in Boston Company = $83,000

Fair value of assets = $98,000

Fair value of liabilities  23,000

Net value of assets = $75,000

Goodwill = $5,000 ($80,000 - $75,000)

b) Acquired Goodwill is the difference between the cost of purchasing Boston Company ($80,000) and the net identifiable assets of Boston Company ($75,000).  The net identifiable assets are calculated by subtracting the fair value of the liabilities from the fair value of the assets.


Related Questions

Consider two $10,000 face value corporate bonds. Bond A is currently selling for $9,980 and matures in 15 years. The Bond B sells for $9,350 and matures in 3 years. a) Calculate the current yield as a percentage to 2 decimal places for both bonds if both have a coupon rate equal to 5%. Bond A % Bond B % b) Calculate the yield to maturity as a percentage to 2 decimal places for both bonds if both have a coupon rate equal to 5%. Bond A % Bond B % Which current yield is a better approximation of the yield to maturity, A or B

Answers

Solution :

Current yield of the Bond if the bonds are selling at a price of $ 9980.

Current yield = annual coupon amount / current selling price

Current yield [tex]$=\frac{10000 \times 5\%}{9980}$[/tex]

                     [tex]$=\frac{500}{9980}$[/tex]

                     = 0.0501

                     = 5.01 %

The current yield of a bond if the bonds are selling at $ 9350

Current yield = annual coupon amount / current selling price

Current yield [tex]$=\frac{10000 \times 5\%}{9350}$[/tex]

                     [tex]$=\frac{500}{9350}$[/tex]

                     = 0.0535

                     = 5.35 %

In the United States, citizens are individuals who are willing to take risks and make quick business decisions, which leads to a thriving entrepreneurial culture. In Middle Eastern countries such as Kuwait and Egypt, taking risks and making daring decisions is not common, and business deals are carefully thought through and examined before any decision can be made. This is an example of opposing cultures in which of the cultural dimensions identified in the GLOBE studies

Answers

Answer:

uncertainty avoidance

Explanation:

People in the Middle East tend to follow strict rules and follow established procedures. this makes them less willing to take risks, and entrepreneurship is about following a dream, and dreams are risky. Middle eastern business people like to avoid risk, therefore, being an entrepreneur and defying established procedures is not common.

Moonbeam Company manufactures toasters. For the first 8 months of 2020, the company reported the following operating results while operating at 75% of plant capacity:
Sales (350,000 units) $4,375,000
Cost of goods sold 2,600,000
Gross profit 1,775,000
Operating expenses 840,000
Net income $ 935,000
Cost of goods sold was 70% variable and 30% fixed; operating expenses were 80% variable and 20% fixed. In September, Moonbeam receives a special order for 15,000 toasters at $7.60 each from Luna Company. Acceptance of the order would result in an additional $3,000 of shipping costs but no increase in fixed costs.
Instructions
a. Prepare an incremental analysis for the special order.
b. Should Moonbeam accept the special order?

Answers

Answer:

Moonbeam Company

a) Incremental Analysis for the Special Order:

Sales (15,000)       at $7.60    $114,000

Variable cost of sales 5.20       78,000

Variable overhead      1.92        28,800

Total variable costs              ($106,800)

Contribution                              $7,200

b) Moonbeam should accept the special order.  It makes a contribution of $7,200 to the defraying of the fixed costs.

Explanation:

a) Data and Calculations:

operating results while operating at 75% of plant capacity:

                                             Total        Unit

Sales (350,000 units)        $4,375,000   $12.50

Cost of goods sold             2,600,000

Variable (70%) $1,820,000                          5.20

Fixed (30%)          780,000

Gross profit                          1,775,000

Operating expenses             840,000

Variable (80%)  $672,000                          1.92

Fixed (20%)         168,000

Net income                        $ 935,000

Incremental Analysis for the Special Order:

Sales (15,000)       at $7.60    $114,000

Variable cost of sales 5.20       78,000

Variable overhead      1.92        28,800

Total variable costs              ($106,800)

Contribution                              $7,200

b) Incremental analysis concentrates on the variable elements of costs.  The method disregards all fixed costs as they are regarded as sunk or past costs, and therefore, irrelevant to the decision at hand.

                 

Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are planned for the year. Beginning Inventory Ending Inventory Finished goods (units) 30,000 80,000 Raw material (grams) 60,000 50,000 Each unit of finished goods requires 3 grams of raw material. The company plans to sell 770,000 units during the year. How much of the raw material should the company purchase during the year

Answers

Answer:

See below

Explanation:

Raw materials purchased is computed as;

Raw material purchase = Ending inventory + required for production - beginning inventory

= 50,000 + ((80,000 + 770,000 - 30,000) × 3) - 60,000

= 50,000 + 2,460,000 - 60,000

= 2,450,000 grams

When the government imposes an excise tax in a market with a downward-sloping demand curve and an upward-sloping supply curve: _________.
a. consumer surplus falls, producer surplus falls, and a deadweight loss occurs.
b. consumer surplus falls.
c. producer surplus falls.
d. a deadweight loss occurs.

Answers

Answer:

A

Explanation:

Tax is a compulsory sum levied on the price of goods and services. It increases the price of goods and services

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Consumer surplus = willingness to pay – price of the good

Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product

Producer surplus = price – least price the seller is willing to accept

If tax increases the price of the good, consumer surplus would reduce

For example, willingness to pay is $20, price before tax is $5 and price after tax is $10. consumer surplus becomes $10 when it was $15 initially

Tax reduces the amount that would be received by the seller. This reduces consumer surplus.

Deadweight loss is the decrease in quantity demanded as a result of tax. Because tax increases price, the quantity demanded would reduce

Select the correct statement below regarding Manufacturing Overhead: Multiple Choice Manufacturing overhead is always an estimated cost. Manufacturing overhead is a clearing account and is neither shown on the balance sheet or income statement in published financial statements. Manufacturing overhead is an inventory account that is shown on the balance sheet. Manufacturing overhead is an expense account for all factory costs that are neither direct materials or direct labor.

Answers

Answer:

D) Expense account for all factory costs, except direct material or labour

Explanation:

Manufacturing Overhead refers to indirect costs, incurred during the process of production. This is charged as cost - to the units produced, during a reporting period. Example : Depreciation of asset, cost of asset is spread to all the useful years (& corresponding period output)

Chelsea’s goal is to someday have her own restaurant. Taking cooking classes in high school would help prepare Chelsea for her future career.

A.
True

B.
False

Answers

Answer:

True

Although operations of restaurant has nothing to do with cooking as Chelsea can hire a chef for her restaurant. But still it would be helpful for her in a sense that she can calculate the right amount of ingredients needed and their respective costs required. Also she can herself be a chef at her restaurant that would save the salary expense of a chef.

Explanation:

Answer:

True

Explanation:

If it is a small restaurant she maybe the cook and the skill of knowing how to cook would be needed

Marigold Corp. uses the periodic inventory system. For the current month, the beginning inventory consisted of 477 units that cost $65 each. During the month, the company made two purchases: 715 units at $68 each and 364 units at $70 each. Marigold Corp. also sold 1197 units during the month. Using the LIFO method, what is the amount of cost of goods sold for the month?

Answers

Answer:

COGS= $81,770

Explanation:

Giving the following information:

Beginning inventory= 477 units that cost $65 each.

Purchases:

715 units at $68 each

364 units at $70 each.

Units sold= 1,197

To calculate the cost of goods sold under the LIFO (last-in, first-out) method, we need to use the cost of the lasts units incorporated into inventory:

COGS= 364*70 + 715*68 + 118*65

COGS= $81,770

Florissa's Flowers jointly produces three varieties of flowers in the same garden: tulips, lilies, and daisies. The flowers are all watered via the same irrigation system and all receive the same amount of water; daisies require three times as much as lilies, and the water required for tulips is about halfway between the amounts needed for daisies and lilies. Although the lilies and tulips receive more water than they need due to the joint irrigation process, they are not hurt by the overwatering. The joint production cost of the three varieties of flowers is about $30 per harvest. Every harvest yields 10 tulips, 20 lilies, and 20 daisies

Allocate the joint costs of production to each product using the physical units method.

Joint Product Flowers per Harvest Proportion Joint Costs Allocation
Tulip % $ $
Lily %
Daisy %
Totals $

Which products receive the largest portion of the joint costs?

Answers

Answer:

Lily and Daisy

Explanation:

Joint product   Flowers per harvest   Proportion   Joint cost allocation

Tulip                              10                     20% (10/50)       $6 ($30*20%)

Lily                                20                     40% (20/50)      $12 ($30*40%)

Daisy                            20                     40% (20/50)      $12 ($30*40%)

Totals                           50                     100%                  $30

As per above results, both Lily and Daisy received the largest proportion of joint cost.

Longview Manufacturing Company manufactures two products (I and II). The overhead costs ($60,500) have been divided into three cost pools that use the following activity drivers:
Number of Labor
Product Number of Orders Transactions Labor Hours
I 15 50 500
II 10 150 2,000
Cost per pool $12,500 $8,000 $40,000
If the number of labor hours is used to assign labor costs from the cost pool, determine the amount of overhead cost to be assigned to Product I.
a. $8,000.
b. $58,000.
c. $9,600.
d. $32,000.

Answers

Answer:

a. $8,000.

Explanation:

The computation of the amount of overhead cost assigned to the product I is shown below:

= $40,000 ÷ 2,500 × $500

= $8,000

Hence, the amount of overhead cost assigned to the product I is $8,000

Therefore the correct option is a.

Creativity within organizations can be enhanced by Group of answer choices employing only those individuals from environments that nurture creativity. encouraging employees to have less risk propensity. making it part of the organization's culture. setting ambiguous goals and objectives. training individuals to have an external locus of control.

Answers

Answer:

making it part of the organization's culture.

Explanation:

Creativity can be defined as the ability of an employee or group of employees (teams) working in an organization to use imagination and skills set to create (produce) a product or novel idea that solves a particular problem in the society.

Creativity within organizations can be enhanced by making it part of the organization's culture.

Culture can be defined as the general way of life of a group of people living or working together in a particular organization, location or society.

Basically, culture comprises of beliefs, values, behaviors, language, dressing, cuisine, music, symbols, arts, social habits, knowledge, customs, laws pertaining to a particular group of people living together in a society.

This ultimately implies that, culture are acquired and passed from one generation to another.

In supply and demand theory, an increase in consumer income for a normal good will: A. Shift the demand curve in and to the left, lowering the equilibrium price but raising the equilibrium quantity. B. Shift the demand curve out and to the right, raising the equilibrium price and quantity. C. Shift the supply curve out and to the right, lowering the equilibrium price but raising the equilibrium quantity. D. Shift the supply curve in and to the left, lowering the equilibrium price and quantity. E. Shift the demand curve out and to the right, lowering the equilibrium price but raising the equilibrium quantity.

Answers

Answer:

b

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

If income increases, demand increases. the demand curve shifts to the right. This leads to an increase in equilibrium price and quantity

Company XYZ forecasts expanding markets, see many opportunities for growth, and adopts a growth strategy. It has invested heavily into a highly efficient production process. Administratively, it has tight control over costs and lots of rules and regulations to promote efficiency. According to the adaptation model of strategy, company XYZ:_________
a. is a strategie failure
b. as prospector
c. as defender
d. as an analyzer

Answers

Answer:

c

Explanation:

The adaption model was developed by  Miles and Snow (1978)

Businesses are classified as :

ReactorsDefenders Analysersprospectors

Company XYZ can be classified as a defender. this is because they have taken steps to increase control internally. It also has a lot of rules which might stifle adaption

On December 31, 2020, Swifty Corporation sold for $152000 an old machine having an original cost of $265000 and a book value of $113000. The terms of the sale were as follows: $39000 down payment $56500 payable on December 31 each of the next two years The agreement of sale made no mention of interest; however, 8% would be a fair rate for this type of transaction. What should be the amount of the notes receivable net of the unamortized discount on December 31, 2020 rounded to the nearest dollar

Answers

Answer:

the amount of the note receivable net of the unamortized discount is $100,754

Explanation:

The computation of the amount of the note receivable net of the unamortized discount is shown below:

= $56,500 × present value of an ordinary annuity for 2 years at 8%

= $56,500 ×  1.783265

= $100,754

hence, the amount of the note receivable net of the unamortized discount is $100,754

Select the correct answer.
In general, how long does it take to accomplish a long-term goal?
OA.
a few days to a week
OB.
a few weeks to a month
OC.
a few months to a year
OD.
more than a year

Answers

C or d sorry if wrong

Isaac Inc. began operations in January 2021. For some property sales, Isaac recognizes income in the period of sale for financial reporting purposes. However, for income tax purposes, Isaac recognizes income when it collects cash from the buyer's installment payments. In 2021, Isaac had $621 million in sales of this type. Scheduled collections for these sales are as follows:
2021 $61 million
2022 121 million
2023 131 million
2024 152 million
2025 156 million
$621 million
Assume that Isaac has a 25% income tax rate and that there were no other differences in income for financial statement and tax purposes. Ignoring operating expenses and additional sales in 2022, what deferred tax liability would Isaac report in its year-end 2022 balance sheet?
a. $128 million.
b. $59 million.
c. $104 milion.
d. $8 million.

Answers

Answer:

$109,750,000

Explanation:

Note: Options provided in the question belong to similar question but different numbers

Deferred Tax liability = (Revenue from specific sales in 2021 - Cash received against it up to 2022) * Tax rate

Deferred Tax liability = ($621 million - $61 million - $121 million) * 25%

Deferred Tax liability = $439 million * 25%

Deferred Tax liability = $109,750,000

Bing Book Bindery has identified two activity cost pools: printing, with an activity driver of batches processed, and binding, with an activity driver of direct labor hours. For the coming quarter, total factory overhead of $140,000 is split such that 65% is allocated to printing and 35% is allocated to binding. Bing makes two types of books: hard cover and soft cover. During the quarter, it expects to produce 5,200 hard cover books and 12,000 soft cover books. Hard covers are produced in batch sizes of 100 and soft covers are produced in batch sizes of 300. A hard cover book requires 0.75 hours of direct labor, while a soft cover book requires 0.25 hours. What is the overhead allocation to soft covers for printing

Answers

Answer:

Bing Book Bindery

The overhead allocation to soft covers for printing is:

= $68,250.

Explanation:

a) Data and Calculations:

Activity Cost Pools  Overhead  Activity Driver        Number   Overhead

                                      Cost                                     Usage         Rates

Printing                       $91,000   Batches processed   400     $227.50

Binding                      $49,000   Direct labor hours      150     $326.67

Total                         $140,000

Overhead rates:

Printing = $227.50 ($91,000/400)

Binding = $326.67 ($49,000/150)

                                Hard Cover      Soft Cover          Total

Units produced            5,200            12,000                17,200

Batches                            100                 300                    400

Direct labor hours          0.75               0.25

Total direct labor hours 75 (0.75*100) 75 (0.25*300)     150

Overhead allocated to Soft Cover:

Printing = ($227.50 * 300) $68,250

Binding = ($326.67 * 75)     24,500

Total overhead =               $92,750

Overhead allocated to Harc Cover:

Printing = ($227.50 * 100) $22,750

Binding = ($326.67 * 75)     24,500

Total overhead =               $47,250

If a country's nominal interest rate is zero, then Group of answer choices the country's economy is in a liquidity trap. monetary policy is likely to be very effective in stimulating the economy. exchange rates with other countries are likely to increase. exchange rates with other countries are likely to decline. the country's economy has achieved monetary equilibrium.

Answers

Answer:

the country's economy is in a liquidity trap.

Explanation:

A liquidity trap exists when interest rate are  close to or equal to zero.

When there is a liquidity trap, expansionary monetary supply would not work because people would prefer to hold cash due to the believe that a negative economic event is about to occur e.g. deflation

When there is a liquidity trap, individuals prefer to save their monies rather than buy bonds

Liquidity trap was first discovered by John M. Keynes

Solutions to liquidity trap

1. Policies that would make savings less attractive

2, Increased government spending

Liquidity trap occurred in Japan in the 1990s and this led to a deflation

When a firm declares bankruptcy, Group of answer choices the claims of preferred shareholders are honored before those of the common shareholders. the maximum that shareholders can lose is their original investment in the firm's stock. bond holders have claim to what is left from the liquidation of the firm's assets after paying the shareholders. the maximum that shareholders can lose is their original investment in the firm's stock AND the claims of preferred shareholders are honored before those of the common shareholders. the owners of common stock are the first in line to receive their claims on the firm's assets.

Answers

Answer:

the maximum that shareholders can lose is their original investment in the firm's stock AND the claims of preferred shareholders are honored before those of the common shareholders.

Explanation:

          Bankruptcy may be defined as the legal proceedings that involves a person or a business where the person or the business firm is not able to repay the debts that are outstanding. When a firm or a person files a bankruptcy, there is an automatic stay put by the court that blocks the debts.

         In case of bankruptcy the different shareholders of the firm losses a maximum of their original investment that they have done in the firm while purchasing the stocks. And also the claims of the preferred shareholders are being honored first than those of common shareholders.

Market Inc. has two divisions, Talbot and Heather. Following is the income statement for the past month: Talbot Heather Total Sales$280,000 $168,000 $448,000 Variable Costs 168,000 67,000 235,000 Contribution Margin 112,000 101,000 213,000 Fixed Costs (allocated) 112,500 67,500 180,000 Profit Margin$(500) $33,500 $33,000 What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable

Answers

Answer:

$(79,000)

Explanation:

Calculation to determine What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable

Using this formula

Market's profit margin =Contribution margin - Fixed costs

Let plug in the formula

Market's profit margin=$101,000-$180,000

Market's profit margin=$(79,000)

Therefore What would Market's profit margin be if the Talbot division was dropped and all fixed costs are unavoidable is $(79,000)

Consider a mutual fund with $219 million in assets at the start of the year and with 12 million shares outstanding. The fund invests in a portfolio of stocks that provides dividend income at the end of the year of $6 million. The stocks included in the fund's portfolio increase in price by 7%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b-1 fees of 0.50%, which are deducted from portfolio assets at year-end. a. What is the net asset value at the start and end of the year

Answers

Answer:

Missing word "What is the Rate of return"

a. Asset at the end of the year = (Asset at the start of the year + Increase in value) * 12b-1 charges

Asset at the end of the year = ($219 million+ ($219 million * 7%)) * (1-0.50%)

Asset at the end of the year = ($219 million + $15.33 million) * 0.9950

Asset at the end of the year = $234.33 million * 0.9950

Asset at the end of the year = $233.16 million

Net asset value at the end of the year = Asset at the end of the year / Number of shares

Net asset value at the end of the year = $233.15835 million / 12 million

Net asset value at the end of the year = $19.430

b. Rate of return = (Net asset value at the end of the year + dividend per share - Net asset value at the start of the year) / Net asset value at the start of the year

Rate of return = ($19.430 + ($6 / 12) - $18.250) / $18.250

Rate of return = ($19.430 + $0.50 - $18.250) / $18.250

Rate of return = $1.68 / $18.250

Rate of return = 9.20%

[The following information applies to the questions displayed below.] Campus Stop, Inc., is a student co-op. Campus Stop uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis: a. Sold merchandise for cash (cost of merchandise $152,070). $ 275,000 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $800). 1,600 c. Sold merchandise (costing $9,000) to a customer on account with terms n/30. 20,000 d. Collected half of the balance owed by the customer in (c). 10,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid. 1,800 Compute the gross profit percentage. (Round your answer to 1 decimal place.)

Answers

Answer: 45%

Explanation:

First calculate the sales:

= Cash sales + credit sale

= 275,000 + 20,000

= $295,000

Terms on credit sale was 2/10 n/30 and they paid half in time($10,000) but a partial allowance of $1,800 was granted:

Net sales would be:

= Sales - sales returns - sales discount

= 295,000 - 1,600 - (10,000 * 2%) - 1,800

= $291,400

COGS = 152,070 + 9,000 - 800

= $160,270

Gross profit percentage = (Sales - Cost of goods sold) / Sales

= (291,400 - 160,270) / 291,400 * 100%

= 45%

Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product $122,200 Advertising expense $49,900
Depreciation on plant 69,200 Property taxes on plant 17,600
Property taxes on store 8,590 Delivery expense 28,300
Labor costs of assembly-line workers 113,100 Sales commissions 44,400
Factory supplies used 34,000 Salaries paid to sales clerks 51,300

Work in process inventory was $13,300 at January 1 and $17,200 at December 31. Finished goods inventory was $68,800 at January 1 and $47,900 at December 31.

Required:
a. Compute cost of goods manufactured.
b. Compute cost of goods sold.

Answers

Answer:

a. $352,200

b. $372,100

Explanation:

The cost of goods manufactured

Consider only the manufacturing costs

Cost of goods manufactured = $122,200 + $69,200 + $17,600 + $113,100 + $34,000 + $13,300 - $17,200

                                                =$352,200

Cost of goods sold

Add Cost of goods manufactured to the net of Finished inventory balance

Cost of goods sold = $47,900 $68,800 + $352,200 - $47,900

                                = $372,100

An increase in the price of a good will cause suppliers / producers to__________the amount of the good (quantity supplied). the​

Answers

Answer:

increase

Explanation:

why do we have a graduated income tax?​

Answers

Supporters of the progressive system claim that higher salaries enable affluent people to pay higher taxes and that this is the fairest system because it lessens the tax burden of the poor. ... Taxes do not discourage high earners from earning more, and the low tax rate encourages the poor to strive to earn more.

A sole proprietor in the 37% tax bracket pays her 16-year-old son a reasonable salary of $14,000 for services performed for the proprietorship. Compute the family's income tax savings if the son has no other income and takes a $12,400 standard deduction.

Answers

Answer: $5020

Explanation:

The family's income tax savings if the son has no other income and takes a $12,400 standard deduction will be calculated as:

Explanation:

Tax savings from deduction = ($14,000 × 37%) = $5180

Less: Tax on child's taxable income = 10% × ($14,000 - $12,400) = 10% × $1600 = $160

Family's income tax savings = $5180 - $160 = $5020

Ana and Shen need to decide which one of them will need to take time off work to complete the rather urgent task of shearing their llamas. Ana is pretty good with a pair of shears; she can shear the llamas in one hour. Shen is somewhat slow; it takes him six hours to shear the llamas. Ana earns $120 per hour as a business consultant, while Shen earns $15 per hour as a lifeguard.
Keeping in mind that either Ana or Shen must take time off work to shear the llamas, who has the lowest opportunity cost of completing the task?
A. Ana
B. Shen
C. Ana and Shen face identical opportunity costs

Answers

Answer:

B

Explanation:

We have to consider the opportunity cost of both parties

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If Ana chooses to shear, she would be forgoing  an income $120

If Shen chooses to shear for 6 hours, she would be forgoing an income ($15 x 6) = 90

Shen has a lower opportunity cost and should shear

Howard Co.'s 2016 income from continuing operations before income taxes was $280,000. Howard Co. reported before-tax income on discontinued operations of $50,000. All tax items are subject to a 40% tax rate. In its income statement for 2016, Howard Co. would show which of the following line-item amounts for net income and income tax expense:

a. $213,600 and $117,600 respectively.
b. $356,000 and $318,800 respectively.
c. $117,600 and $213,600 respectively.
d. $232,000 and $269,200 respectively.

Answers

Answer:

$198,000 and $112,000 respectively

Explanation:

Income tax expense = Income from continuing operations before income taxes * Tax rate

Income tax expense = $280,000 * 40%

Income tax expense = $112,000

Net income = Income from continuing operations before income taxes - Income tax expense + (Before-tax income on discontinued operations * (1 - 40%)

Net income = ($280,000 - $112,000) + ($50,000 * 0.6)

Net income = $168,000 + $30,000

Net income = $198,000

Consider the simple 3-station assembly line illustrated below, where the 2 machines at Station 1 are parallel, i.e., the product only needs to go through one of the 2 machines before proceeding to Station 2. Station 1 Machine A has a capacity of 3 units per hour; Station 1 Machine B has a capacity of 3 units per hour; Station 2 has a capacity of 5 units per hour; Station 3 has a capacity of 10 units per hour What is the bottleneck time of this process

Answers

Answer:

The bottleneck time for this process is 20 minutes.

Explanation:

a) Data and Calculations:

Station  Capacity per hour  Time required per unit

1 A               3                          20 minutes (60/3)

1 B               3                          20 minutes (60/3)

2                  5                          12 minutes (60/5)

3                 10                           6 minutes (60/10)

Total demand for the process = 38 minutes (20+12+6)

b) The bottleneck is the station that requires the longest time for its outputs to be processed.  The bottleneck in this process is given by Station One, requiring 20 minutes to meet output requirements through either machine A or machine B.  The bottleneck constitutes a constraint on the process capacity to achieve results.

Lilliput is a country that has closed borders and does not import or export any goods or services; hence, they do not worry about trade with other countries. Total spending for the federal government of Lilliput for the last fiscal year was $24.19 billion. The country collected $22.9 billion in taxes during this same fiscal year. Assume government transfers were zero. Based on this information, what is Lilliput's budget balance?

Answers

Answer:  Lilliput is a country that has closed borders and does not import or export any goods or services

Explanation:

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