Mindy Novak is writing a paper and he must determine which of Porter's three generic strategies Beulah’s Boutiques has implemented. Mindy finds out that Beulah’s Boutiques offers specialty products found only in boutiques around the world to affluent customers. What would Mindy determine Beulah’s Boutiques is using as its generic strategy?

Answers

Answer 1

Answer:

The answer to this question can be defined as follows:

Explanation:

Mindy Novak writes a report, also determines, whether Beulah's boutiques have adopted Porter's three generic techniques. Mindy discovers Beulah's Boutiques only offer affluent clients premium brands in shops throughout the world, and he determines Mindy, that standard strategy of the boutiques of Beulah, which canister be defined as follows:  

High expense, to the broad market  Low cost, a narrow market.  Low-cost, wide market  High cost, narrow market  High cost, narrow market

Related Questions

Hussein got a call yesterday from First Bank, the company that issued his credit card inquiring about an $105.00 charge made in Buenos Aires, Argentina. Upon learning that Hussein was in Detroit and had not made this purchase, the bank quickly took steps to cancel the card and issue a new one. Given the circumstances that Hussein's credit card number had an illegal transaction, he may also want to:____________.
A) check his computer's firewall to make sure it's working.
B) cancel his account and eliminate credit cards from his life.
C) change his passwords and store them in a password manager.
D) diversify his spending habits by using one of several credit cards when making purchases.

Answers

Answer:

C) change his passwords and store them in a password manager.

Explanation:

Hussein, being a victim of cyber theft of money from his bank account, after having informed bank about the fraudulent transaction, should :-

Take further precautionary measures for modifying & safely saving other related crucial information, like passwords. So, he should change his passwords and store them in a password manager.

Rachel pushed very hard to go with Project A rather than Project B. There have been several cost overruns, the project is two weeks beyond its projected finish date, and the technology just isn't working out as planned. Rachel increases the funding for the third time and hires three new designers to help revamp the look of the product. Rachel is engaging in _____.

Answers

Answer: escalation of commitment

Explanation:

Escalation of commitment is when an individual or firm chooses an option which tends to be unsuccessful but the individual or firm still continues with the project because there has been investment which has already been made on it.

From the question, we are told that Rachel pushed very hard to go with Project A rather than Project B. From the information given, despite the fact that project A has been unsuccessful, Rachel continued with it and invested more in it rather than changing or leaving it for project B. This shows that Rachel is engaging in escalation of commitment.

You work for a marketing firm that has just landed a contract with Run-of-the-Mills to help them promote three of their products: splishy splashies, frizzles, and cannies. All of these products have been on the market for some time, but, to entice better sales, Run-of-the-Mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods.

Run-of-the-Mills provides your marketing firm with the following data: When the price of splishy splashies decreases by 5%, the quantity of frizzles sold increases by 4% and the quantity of cannies sold decreases by 5%. Your job is to use the cross-price elasticity between splishy splashies and the other goods to determine which goods your marketing firm should advertise together.

Complete the first column of the following table by computing the cross-price elasticity between splishy splashies and flopsicles, and then between splishy splashies and kipples. In the second column, determine if splishy splashies are a complement to or a substitute for each of the goods listed. Finally, complete the final column by indicating which good you should recommend marketing with splishy splashies.

Relative to Splishy Splashies
Cross-Price Elasticity of Demand Complement or Substitute Recommend Marketing with Splishy Splashies

Flopsicles
Kipples

Answers

Answer:

cross-price elasticity formula = % change in quantity demanded of good X / % change in price of good Y

cross-price elasticity of demand between splishy splashies and frizzles (or is it flopsicles?) = 4% / -5% = -0.8, complement goods. When the cross price elasticity is negative, then the goods complement each other.

cross-price elasticity of demand between splishy splashies and cannies (or is it kippies?) = -5% / -5% = 1, substitute goods. When the cross price elasticity is positive, then the goods substitute each other.

If you are about to launch a marketing campaign for splishy splashies, then you should include frizzles in it.

The following data pertain to the Oneida Restaurant Supply Company for the year just ended.

Budgeted sales revenue $205,000
Actual manufacturing overhead 336,000
Budgeted machine hours (based on practical capacity) 8,000
Budgeted direct-labor hours (based on practical capacity) 20,000
Budgeted direct-labor rate $14
Budgeted manufacturing overhead $364,000
Actual machine hours 11,000
Actual direct-labor hours 18,000
Actual direct-labor rate $15


Required:
a. Compute the firm's predetermined overhead rate for the year using each of the following common cost drivers: (a) machine hours, (b) direct-labor hours, and (c) direct-labor dollars.
b. Calculate the over-applied or under-applied overhead for the year using each of the cost drivers listed above.

Answers

Answer:

Predetermined overhead rate = Budgeted manufacturing rate/Allocation base

a. Machine hours

= 364,000 / 8,000

= $45.5

Predetermined overhead rate = $45.5

Direct-labor hours

= 364,000 / 20,000

= $18.2

Predetermined overhead rate = $18.2

Direct-labor dollars

Budgeted labor hours = 20,000 * $14 = $280,000

Predetermined overhead rate =  364,000 / $280,000 = $1.3

b. Machine hours

Manufacturing overhead applied = Actual machine hours * Predetermined overhead rate = $45.5 * 11,000 = $500,500

Over/Under applied overhead = 336,000 - 500,500

Over-applied overhead = $164,500

Direct-labor hours

Manufacturing overhead applied = Actual direct-labor hours * Predetermined overhead rate = $18.2 * 18,000 = $327,600

Over/Under applied overhead = 336,000 - 327,600

Under-applied overhead = $8400

Direct-labor dollars

Manufacturing overhead applied = Actual direct-labor hours * Actual direct-labor rate * Predetermined overhead rate

Manufacturing overhead applied = 18,000 * $15 * $1.3 = 351,000

Over/Under applied overhead = 336,000 - 351,000

Over-applied overhead = $15,000

The calculation is as follows:

we know that

Predetermined overhead rate = Budgeted manufacturing rate ÷ Allocation base

a. Machine hours

= 364,000 ÷8,000

= $45.5

Predetermined overhead rate = $45.5

Direct-labor hours

= 364,000 ÷ 20,000

= $18.2

Predetermined overhead rate = $18.2

Direct-labor dollars

Budgeted labor hours = 20,000 × $14 = $280,000

Predetermined overhead rate =  364,000 ÷ $280,000 = $1.3

b. Machine hours

Manufacturing overhead applied = Actual machine hours × Predetermined overhead rate

= $45.5 × 11,000

= $500,500

So,

Over/Under applied overhead = 336,000 - 500,500

Over-applied overhead = $164,500

Direct-labor hours

Manufacturing overhead applied = Actual direct-labor hours × Predetermined overhead rate

= $18.2 × 18,000

= $327,600

Over/Under applied overhead = 336,000 - 327,600

Under-applied overhead = $8400

Direct-labor dollars

Manufacturing overhead applied = Actual direct-labor hours × Actual direct-labor rate × Predetermined overhead rate

= 18,000 × $15 × $1.3

= 351,000

Over/Under applied overhead = 336,000 - 351,000

Over-applied overhead = $15,000

Learn more: https://brainly.com/question/994316?referrer=searchResults

Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,800 of direct materials, $6,966 of direct labor, and $9,936 of manufacturing overhead cost. The company assigns an overhead cost to jobs using the predetermined overhead rate of $18.40 per direct labor-hour. During May, the following activity was recorded:
Raw materials (all direct materials):
Beginning balance $8,500
Purchased during the month $38,000
Used in production $39,300
Labor:
Direct labor-hours worked during the month 1,900
Direct labor cost incurred $24,510
Actual manufacturing overhead costs incurred $33,300
Inventories:
Raw materials, May 30
Work in process, May 30 $16,937
Work in process inventory on May 30 contains $3,741 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The entry to dispose of the underapplied or overapplied manufacturing overhead cost for the month would include a:________.
a: credit of $5,336 to Manufacturing Overhead.
b: credit of $1,660 to Manufacturing Overhead.
c: debit of $5,336 to Manufacturing Overhead.
d: debit of $1,660 to Manufacturing Overhead.
Accounting entries for adjustment of overhead expenses.
Generally overheads are applied to various jobs on a predetermined basis. But actual overheads incurred can be more than/ less than predetermined overhead costs. To adjust this difference journal entries are made at the end of the period.

Answers

Answer:

The answer is "Option b".

Explanation:

The value of Applied overhead:

[tex]= 18.40 \times 1900 \\\\ = 34960[/tex]

The Actual overhead:

[tex]= 33300[/tex]

The Overlapping overhead = Applied overhead- Actual overhead

[tex]= 34960-33300\\\\= 1660[/tex]

Journal entry:

Date and explanation account                                    Dr.                    Cr.

Overhead production                                                   1600

goods sold at prices                                                                             1600

(Overcast overhead is available to records)

You are considering starting a company that manufactures racing bicycles. You are planning on financing your firm 40% equity and 60% debt. You estimate that your upfront costs will be $5M, and that you will earn an EBIT of $1M per year for the next 12 years. Lightning Bolt Bikes makes racing bicycles similar to the ones that you wish to manufacture. They have a CAPM equity beta of 1.9 and a debt to equity ratio of 0.7. The tax rate for both firms is 35%, the riskless rate is 3%, and the expected return on the S&P500 is 15%. Cost of Debt is 6%

Part A (5 points). What is the asset beta of Lightning Bolt Bikes?

Part B (5 points). What is your unlevered cost of equity?

Part C (5 points). What is your firm’s equity beta?

Part D (10 points). What is your firm’s weighted average cost of capital?

Part E (5 points). What is the NPV of your proposed bicycle company using the WACC method?

Answers

Answer and Explanation:

1. Asset beta measures company's risk or volatility of return in assets without the effect of leverage financing or debt.

Asset beta= Equity beta / 1+(1-tax rate) *debt / equity

2. Unlevered cost of equity measures the returns on assets without the effect of debt

Unlevered cost of equity = Risk free return + Asset Beta * (Expected market return - Risk free return)

3. Equity beta measures security prices' volatility to change in the market

4. Weighted average cost of capital is the weighted average cost or average cost of all capital sources employed by the company in financing it's assets

Weighted Average cost of capital = Cost of Equity * proportion of equity + Cost of debt after tax rate * proportion of debt

Expected return in CAPM= Risk free return +asset beta *market return -risk free return

Pooling has been used for a long time by businesses as a way to reduce risk. Imagine that years ago a small paint factory employed 200 people, each with an annual salary of $600/year. The factory owner knew from experience that 4 percent of workers were being injured each year, becoming unable to work. The factory owner decided to set up a fund to pay injured workers three months of salary to help their families and build good will with employees. The owner did not contribute to the injury fund. The workers themselves contributed a fixed amount each year to fund the plan. Answer the following questions (1 point each):_____.
1. How much did the owner need to collect from employees in total to fully fund the plan each year?
2. How much did each employee have to contribute each year to fully fund the plan?
3. What percentage of salary did each employee contribute to have an injury fund like this?

Answers

Answer:

1. Amount required to fund the plan = % of injured*Total employees* Annual salary

Amount required to fund the plan = 4%*200 people* $600

Amount required to fund the plan = $4800

2. Amount contributed by each employee = Amount required to fund the plan / Number of employees

Amount contributed by each employee = $4800/200

Amount contributed by each employee = $24

3. Percentage of salary = Amount contributed by each employee / Salary

Percentage of salary = 24/600

Percentage of salary =  0.04

Percentage of salary = 4%

Apr. 2 Purchased $6,900 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
3 Paid $390 cash for shipping charges on the April 2 purchase.
4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $500.
17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
18 Purchased $13,100 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination.
21 After negotiations, received from Frist a $400 allowance toward the $13,100 owed on the April 18 purchase.
28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.

Required:
Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.

Answers

Answer:

Apr. 2

Merchandise $6,900 (debit)

Accounts Payable : Lyon Company $6,900 (credit)

Purchased Merchandise from Lyon Company on credit

April 3.

Accounts Payable : Lyon Company $390 (debit)

Cash $390 (credit)

Payment of Freight Charges Include in Invoice (FOB)

April 4.

Accounts Payable : Lyon Company $500 (debit)

Merchandise $500 (credit)

Returned Merchandise to Lyon Company

April 17.

Accounts Payable : Lyon Company $6,010 (debit)

Discount Received $120 (credit)

Cash $5,890 (credit)

Payment of amount due to Lyon Company and discount received

April 18.

Merchandise $13,100  (debit)

Accounts Payable: Frist Corp $13,100  (credit)

Purchased Merchandise on credit from Frist Corp

April 2.

Accounts Payable: Frist Corp $400  (debit)

Purchase allowance $400 (credit)

Received and allowance from Frist Corp

April 28.

Accounts Payable: Frist Corp $12,700 (debit)

Discount Received $127 (credit)

Cash $12,573 (credit)

Payment of amount due to Frist Corp and discount received

Explanation:

See the journals and their narrations prepared above.

Tom and Betsy, who are married filing jointly, reported a standard deduction of $24,000 on their 2018 tax return. They paid $500 to the state for income taxes in 2018. In 2019, they received a $125 refund of state taxes paid in 2018. What is the amount that Tom and Betsy need to report on their 2019 tax return?

Answers

Answer:

$0

Explanation:

Since Tom and Betsy didn't itemize their deductions in 2018 (they chose the standard deduction), they didn't include the state taxes in their tax filing. Since the state taxes were not used by Tom and Betsy to reduce their federal income taxes, then any refund will not be included in their current income. Only if state taxes are used to lower federal taxes, do taxpayers need to include any refund.

Camille Sikorski was divorced last year. She currently provides a home for her 15-year-old daughter, Kaly, and 18-year-old son, Parker. Both children lived in Camille’s home, which she owns, for the entire year, and Camille paid for all the costs of maintaining the home. She received a salary of $55,000 and contributed $4,200 of it to a qualified retirement account (a for AGI deduction). She also received $6,000 of alimony from her former husband. Finally, Camille paid $2,700 of expenditures that qualified as itemized deductions.

a. What is Camille’s taxable income?

b. What would Camille’s taxable income be if she incurred $9,800 of itemized deductions instead of $2,700?

c. Assume the original facts but now suppose Camille’s daughter, Kaly, is 25 years old and a full-time student. Kaly’s gross income for the year was $5,300. Kaly provided $3,180 of her own support, and Camille provided $5,300 of support. What is Camille’s taxable income?

#6 is it Greater of standard deduction or itemized deduction or is it Lesser of standard deduction or itemized deduction

Description Amount
1) Gross income
2) For AGI deductions
3) Adjused gross income $
4) Standard deduction
5) Itemized deductions
6)
7) Personal and dependency exemptions
8) Total deductions from AGI $
Taxable income

Answers

Answer:

Uhhh is there any sources?

Explanation:

Bonita Beauty Corporation manufactures cosmetic products that are sold through a network of sales agents. The agents are paid a commission of 18% of sales. The income statement for the year ending December 31, 2014, is as follows.
BONITA BEAUTY CORPORATION
Income Statement For the Year Ended December 31, 2014
Sales $75,000,000
Cost of goods sold
Variable $31,500,000
Fixed 8,610,000 40,110,000
Gross margin $34,890,000
Selling and marketing expenses
Commissions $13,500,000
Fixed costs 10,260,000 23,760,000
Operating income $11,130,000
The company is considering hiring its own sales staff to replace the network of agents. It will pay its salespeople a commission of 8% and incur additional fixed costs of $7,500,000.
Under the current policy of using a network of sales agents, calculate the Bonita Beauty Corporation

Answers

Answer:

the question is incomplete, so I looked for the requirements of similar questions:

A. Calculate the company’s break-even point in sales dollars for the year 2014 if it hires its own sales force to replace the network of agents.

B. Calculate the degree of operating leverage at sales of $75,000,000 if (1) Bonita Beauty uses sales agents, and (2) Bonita Beauty employs its own sales staff.

a) total sales = $75,000,000

variable costs:

COGS $31,500,000

commissions $6,000,000

total variable costs = $37,500,000

contribution margin ratio = $37,500,000 / $75,000,000 = 0.5

total fixed costs = $8,610,000 + $10,260,000 + $7,500,000 = $26,370,000

break even point in $ = $26,370,000 / 0.5 = $52,740,000

b) one of the formulas that we can use to calculate the degree of operating leverage is:

operating leverage = fixed costs / total costs

1) total costs using sales agents = $63,870,000

total fixed costs = $8,610,000 + $10,260,000 = $18,870,000

degree of operating leverage = $18,870,000 / $63,870,000 = 29.54%

2) total costs employing its own sales staff = $6,000,000 + $31,500,000 + $26,370,000 = $63,870,000

total fixed costs = $26,370,000

degree of operating leverage = $26,370,000 / $63,870,000 = 41.29%

You have just been hired as a financial analyst for Barrington Industries. Unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. So, your first job will be to recreate the firm's cash flow statement for the year just ended. The firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. It earned $5 million in net income during the year but paid $750,000 in dividends to common shareholders. Throughout the year, the firm purchased $5.4 million of machinery that was needed for a new project. You have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. Finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 5% interest rate. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.
What was the firm's end-of-year cash balance? Recreate the firm's cash flow statement to arrive at your answer. Write out your answer completely. For example, 5 million should be entered as 5,000,000. Round your answer to the nearest dollar, if necessary.

Answers

Answer:

200,000

Explanation:

A cash flow statement is a financial statement that summarizes the amount of cash and cash equivalents entering and leaving a company. The cash flow statement measures how well a company manages its cash position, meaning how well the company generates cash to pay its debt obligations and fund its operating expenses.

Cash flow from operating activities

Net Income                                                   5,000,000

Less Depreciation                                         (450,000)

Cashflow from operations                            5,450,000

Cash flow from investing activities

Purchase of Fixed assets                               5,400,,000

Cash flow from investing activities

Issue of long term debt                                   1,000,000

Dividend paid                                                   (750,000)

Cash generated from investing activities        250,000

Change in cash                                                  300,000

Beginning balance                                             100,000

Closing balance                                                  200,000

What was the first chess champion

Answers

Answer:

Wilhelm Steinitz

Explanation:

Answer:

Wilhelm Steinitz

Explanation:

in 1886 he took place the first officially recognized World Chess Championship. So in the year of 1886 he was proclaimed as the first World Chess Champion. The final result was 10 victories for Steinitz, 5 for Zukertort and 5 draws

If the amount of credit is 300,000 how much is the discount if the debtor is given a credit term of 2/10 N/30?show your

Answers

Answer:

6,000

Explanation:

In credit sales, 2/10 Net 30 means that the seller has offered the customer a trade discount.  2/10 net 30 is a conditional discount available if payment is made in 10 days. It's a 2% discount should the customer pay in 10 days, if not so, the full amount is due within 30 days.

The discount amount for 300,000 is 2 percent of 300,000.

=2/100 x 300,000

=0.02 x 300,000

=6,000

Two carmakers have developed a strange but successful partnership. Ford, a U.S. automaker,and Mazda, an Asian carmaker, have collaborated on several models, including the Explorer, the Probe, the Mazda 323, and the Mazda MX-6. The U.S. automaker has supplied Mazda with help in marketing, finance, and styling. In return, Mazda has provided manufacturing and product development expertise to Ford. Both companies have worked together toward a common goal and both have benefited as a result of theirA. strategic alliance.B. international contract.C. free trade agreement.D. collaborative treaty.E. global oligopoly.

Answers

Answer:

A. strategic alliance

Explanation:

A strategic alliance refers to an agreement that is made between the two companies to work for accomplishing a common objective also in this the independence is there for working. It is less difficult and less binding as compared with the joint venture

Therefore in the given situation, it represents upon the strategic alliance and the same is to be considered

hence, the correct option is A.

a worker produced four components during an 8-hour shift in which he earned $96. What is his labor cost per unit?

Answers

Answer:

$24

Explanation:

Labor cost per unit is the ratio of total labor expense for a period of time divided by the total number of units produced during that period of time. It is given by the formula:

Labor cost per unit = Total money earned during a specified period / number of components produced.

Hence using the formula above, the labor cost per unit of the worker is gotten to be:

Labor cost per unit = $96 / 4 components = $24

Sunset Products manufactures skateboards. The following transactions occurred in March. Purchased $24,500 of materials on account. Issued $1,450 of supplies from the materials inventory. Purchased $25,900 of materials on account. Paid for the materials purchased in transaction (1) using cash. Issued $30,900 in direct materials to the production department. Incurred direct labor costs of $29,500, which were credited to Wages Payable. Paid $22,400 cash for utilities, power, equipment maintenance, and other miscellaneous items for the manufacturing shop. Applied overhead on the basis of 120 percent of direct labor costs. Recognized depreciation on manufacturing property, plant, and equipment of $5,900.
The following balances appeared in the accounts of Sunset Products for March:
Beginning Ending
Materials Inventory $ 13,500 ?
Work-in-Process Inventory 24,750 ?
Finished Goods Inventory 97,500 $ 54,750
Cost of Goods Sold 120,000
Required:
a. Prepare journal entries to record the transactions. (If o entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Transactions General Journal Debit Credit
1.
2.
3.
4.
5.
6.
7.
8.
9.
b. Prepare T-accounts to show the flow of costs during the period from Materials Inventory through Cost of Goods Sold.
Materials Inventory
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Work in Progress Inventory
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Manufacturing Overhead Control
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Applied Manufacturing Overhead
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Accounts Payable
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Cash
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Wages Payable
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Accumulated Depreciation-Property, Plant, and Equipment
Beg. bal. ___________ ____________
______ ___________ ____________ ______
______ ___________ ____________ ______
End. bal. ___________ ____________ ______
Finished Goods Inventory
Beg. bal. ___________ ____________
Goods Completed ___________ ____________ Transfer to Cost of Goods Sold
End. bal. ___________ ____________
Cost of Goods Sold
Beg. bal. ___________ ____________
Finished Goods Inventory ___________ ____________
End. bal. ___________ ____________

Answers

Answer:

Sunset Products

a) Journal Entries:

Transactions General Journal      Debit       Credit

Materials Inventory                   $24,500

Accounts Payable                                       $24,500

To record the purchase of materials on account.

Manufacturing Overhead           $1,450

Materials Inventory                                       $1,450

To record the issue of supplies.

Materials Inventory                   $25,900

Accounts Payable                                       $25,900

To record the purchase of materials on account.

Accounts Payable                    $24,500

Cash Account                                            $24,500

To record the payment on account.

Work-in-Process Inventory      $30,900

Materials Inventory                                  $30,900

To record the issue of direct materials to the production department.

Work-in-Process Inventory     $29,500

Factory Wages                                         $29,500

To record direct labor costs to work in process.

Manufacturing Overhead       $22,400

Cash Account                                       $22,400

To record the payment for utilities and other expenses.

Work-in-Process Inventory    $35,400

Manufacturing Overhead                      $35,400

To apply overhead to work in process.

Manufacturing Overhead       $5,900

Depreciation Expense                            $5,900

To recognize depreciation on property, plant, and equipment.

Manufacturing overhead applied  $29,750

Manufacturing overhead                              $29,750

To transfer manufacturing overhead to the overhead applied account.

b) T-accounts:

Materials Inventory

Transaction Details                  Debit             Credit

Beginning balance                $ 13,500

Accounts Payable                    24,500

Manufacturing overhead                             $1,450

Accounts Payable                   25,900

Work-in-Process Inventory                         30,900

Ending balance                                          $31,550

Work-in-Process Inventory

Transaction Details                  Debit             Credit

Beginning balance                 $24,750

Materials Inventory                  30,900

Factory Wages                         29,500

Manufacturing Overhead       35,400

Finished Goods Inventory                         $71,600

Ending balance                                           54,200

Finished Goods Inventory

Transaction Details                  Debit             Credit

Beginning balance                $97,500

Work-in-Process                      71,600

Cost of goods sold                                     $114,350

Ending balance                                             54,750

Cost of Goods Sold

Transaction Details                  Debit             Credit

Beginning balance                $120,000

Overapplied overhead                                 $5,650

Ending balance                                             114,350

Manufacturing Overhead Control Account

Transaction Details                  Debit             Credit

Materials Inventory                 $1,450

Cash Account                        22,400

Depreciation expense            5,900

Manufacturing overhead applied              $29,750

Manufacturing Overhead Applied

Transaction Details                  Debit             Credit

Work in Process                                          $35,400

Manufacturing overhead    $29,750

Overapplied overhead            5,650

Accounts Payable

Transaction Details                  Debit             Credit                              Materials Inventory                                      $24,500

Materials Inventory                                        25,900

Cash Account                       $24,500

Ending Balance                      25,900

Cash Account

Transaction Details                  Debit             Credit

Accounts Payable                                         $24,500

Manufacturing Overhead                               22,400

Explanation:

a) Data and Calculations:

Accounts balances of Sunset Products for March:

                                             Beginning     Ending

Materials Inventory                $ 13,500         ?

Work-in-Process Inventory       24,750        ?

Finished Goods Inventory        97,500       $ 54,750

Cost of Goods Sold                                       120,000

At $0.31 per​ bushel, the daily supply for wheat is 306 ​bushels, and the daily demand is 459 bushels. When the price is raised to $0.79 per​ bushel, the daily supply increases to 546 ​bushels, and the daily demand decreases to 439 bushels. Assume that the​ price-supply and​ price-demand equations are linear. a. Find the​ price-supply equation.

Answers

Answer:

The answer is below

Explanation:

a) Find the price supply equation. b) Find the price demand equation. c) Find the equilibrium price and quantity.

Solution:

a) A linear equation is in the form y = mx + b, where m is the slope, y is a dependent variable, x is an independent variable, b is value of y at x = 0.

Let p represent the price and q represent the quantity. Hence we have the points (306, 0.31), (546, 0.79)

Using the formula:

[tex]p-p_1=\frac{p_2-p_1}{q_2-q_1}(q-q_1)\\ \\p-0.31=\frac{0.79-0.31}{546-306} (q-306)\\\\p=0.002q-0.302[/tex]

b) Let p represent the price and q represent the demand. Hence we have the points (459, 0.31), (439, 0.79)

Using the formula:

[tex]p-p_1=\frac{p_2-p_1}{q_2-q_1}(q-q_1)\\ \\p-0.31=\frac{0.79-0.31}{439-459} (q-459)\\\\p=-0.024q+11.326[/tex]

c) At equilibrium, price supply equation = price supply equation

0.002q - 0.302 = -0.024q + 11.326

0.002q + 0.024q = 11.326 + 0.302

0.026q = 11.628

q = 447.23 bushels

p = 0.002q - 0.302 = 0.002(447.23) - 0.302

p = $1.2

A company has net working capital of $1,996. If all its current assets were liquidated, the company would receive $5,923. What are the company's current liabilities?

Answers

Answer:Current Liabilities= $3,927

Explanation:

Net working capital= Current assets-current liabilities

Current Liabilities = Current assets - Net working capital

= $5,923- $1,996

=$3,927

Current liabilities are short term liabilities , debt or  obligation  of a business which should  be due within one year so as  to be paid to creditors.

What is a good job people do you hear me

Answers

Answer:

A lawyer is a good job

Explanation:

lol

whne you try your best and do the best possible you can, but without harmnig anyone or yourself, emotionally or physically

Air conditioning for a college dormitory will cost $2.1 million to install and $170,000 per year to operate at current prices. The system should last 19 years. The real cost of capital is 9%, and the college pays no taxes. What is the equivalent annual cost

Answers

Answer:

$404,634

Explanation:

the formula that we can use to calculate equivalent annual costs is:

EAC = asset price x {discount rate / [1 - (1 + discount rate)⁻ⁿ]} + annual maintenance costs

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000

EAC = $2,100,000 x {0.09 / [1 - (1.09)⁻¹⁹]} + $170,000 = $234,634 + $170,000 = $404,634

EAC is basically the cost of using an asset during its lifetime. We are determining the cost per year, assuming that they are all equal.

Sparky Corporation uses the weighted-average method of process costing. The following information is available for February in its Molding Department:

Units:

Beginning Inventory: 30,000 units, 100% complete as to materials and 55% complete as to conversion.
Units started and completed: 120,000.
Units completed and transferred out: 150,000.
Ending Inventory: 32,500 units, 100% complete as to materials and 30% complete as to conversion.

Costs:
Costs in beginning Work in Process - Direct Materials: $48,000.
Costs in beginning Work in Process - Conversion: $53,850.
Costs incurred in February - Direct Materials: $328,050.
Costs incurred in February - Conversion: $604,150.

Required:
Calculate the cost per equivalent unit of materials.

Answers

Answer:

Cost per equivalent unit of material = $2.06

Explanation:

Total cost of material=  Cost of material in beginning WIP +  Cost of material incurred in February  

= $48,000 + $328,050

= $376,050

Equivalent units =  Number of units completed and transferred+  Ending inventory

= 150,000 units + 32,500 units

= 182,500 units

Cost per equivalent unit of material =  Total cost of direct material  / Equivalent units

= $376,050 / 182,500 units

= $2.06

During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 48,000 mini refrigerators, of which 44,000 were sold. Operating data for the month are summarized as follows:

1 Sales $8,800,000.00

2 Manufacturing costs:
3 Direct materials $3,360,000.00
4 Direct labor 1,344,000.00
5 Variable manufacturing cost 816,000.00
6 Fixed manufacturing cost 528,000.00 6,048,000.00 7

Selling and administrative expenses:
8 Variable $528,000.00
9 Fixed 352,000.00 880,000.00

Required:
a. Prepare an income statement based on the absorption costing concept.
b. Prepare an income statement based on the variable costing concept.
c. Explain the reason for the difference in the amount of income from operations reported in (1) and (2).

Answers

Answer:

Part a.

Income statement based on the absorption costing concept.

Sales                                                                                      $8,800,000.00

Less Cost of Sales

Beginning  Inventory                                          $0

Add Manufacturing Cost                          $6,048,000.00

Less Ending Inventory                                ($504,000.00) ($5,544,000.00)

Gross Profit                                                                            $3,256,000.00

Less Expenses :

Selling and administrative expenses:

Variable                                                      $528,000.00

Fixed                                                           $352,000.00     ($880,000.00)

Net Income/(loss)                                                                   $2,376,000.00

Part b.

Income statement based on the variable costing concept.

Sales                                                                                      $8,800,000.00

Less Cost of Sales

Beginning  Inventory                                          $0

Add Manufacturing Cost                          $5,520,000.00

Less Ending Inventory                                ($460,000.00) ($5,060,000.00)

Contribution                                                                            $3,740,000.00

Less Expenses :

Fixed manufacturing cost                          $528,000.00

Selling and administrative expenses:

Variable                                                      $528,000.00

Fixed                                                           $352,000.00      ($1,408,000.00)

Net Income/(loss)                                                                    $2,332,000.00

Part c.

Reason : Fixed Costs deferred in Ending Inventory in Absorption Costing has resulted in a higher Income.

Explanation:

Units in Ending Inventory Calculation :

Production                             48,000

Less Sales                            (44,000)

Ending Inventory                    4,000

Absorption Costing Calcs

Variable Manufacturing Costs

Direct materials                         $3,360,000.00

Direct labor                                 $1,344,000.00

Variable manufacturing cost        $816,000.00

Fixed manufacturing cost            $528,000.00

Total                                           $6,048,000.00

Ending Inventory =  $6,048,000.00 × 4,000 / 48,000

                            =   $504,000

Variable Costing Calcs

Variable Manufacturing Costs

Direct materials                         $3,360,000.00

Direct labor                                 $1,344,000.00

Variable manufacturing cost        $816,000.00

Total                                           $5,520,000.00

Ending Inventory =  $5,520,000.00 × 4,000 / 48,000

                            =   $460,000

Read the overview below and complete the activities that follow. In addition to trade accounts payable, many companies have other types of current liabilities. These include amounts withheld from employees' pay, sales and other taxes payable, deposits, and other accrued liabilities.
CONCEPT REVIEW:
Companies have many different types of current liabilities. These can include various taxes payable (income tax, sales tax, payroll tax), accrued amounts for salary, vacation or other benefits, and estimates such as accrued utilities and warranty. To adhere to the concept of the matching principle, companies must estimate the amount of their other liabilities.
1. Federal anid state governments do not specily the exact______to be maint, but do specify the amounts to be withheld.
2. Income taxes withheld from employees but not yet submitted to the govenment are considered to be a(n)______.
3. When testing customer deposits, auditors typically review a(n)______of the individual deposits.
4. When testing other accrued liabilities. auditors may independently calculate the amount and______ it to management's estimate.
5. Property tax payments are typically______in number.

Answers

Answer:

1. Federal and state governments do not specify the exact__number of accounts____to be maintained, but do specify the amounts to be withheld.

2. Income taxes withheld from employees but not yet submitted to the government are considered to be a(n)_liability_____.

3. When testing customer deposits, auditors typically review a(n)_sample_____of the individual deposits.

4. When testing other accrued liabilities. auditors may independently calculate the amount and__compare____ it to management's estimate.

5. Property tax payments are typically_numerous_____in number.

Explanation:

Even Federal and State governments and business organizations apply the matching principle of the generally accepted accounting principles.  The principle requires that revenues are matched to the expenses that are incurred in generating them and vice versa.  The purpose is to present a balance view of financial performance and position of the reporting entity.  For this reason, who expenses may not be actually paid for and they are recognized while some that have been paid for are not.  The same rule applies to the revenue side.

Financial Assertions and Audit Objectives. You are engaged to examine the financial statements of Spillane Company for the year ended December 31. Assume that on November 1, Spillane borrowed $500,000 from Second National Bank to finance plant expansion. The long-term note agreement provided for the annual payment of principal and interest over five years. The existing plant was pledged as security for the loan. Due to the unexpected difficulties in acquiring the building site, the plant expansion did not begin on time. To use the borrowed funds, management decided to invest in stocks and bonds and on November 16, invested the $500,000 in publicly traded securities
Required:
Develop specific assertions (audit objectives) related to securities (assets) based on management’s five (PCAOB) general assertions.

Answers

Answer:

Assertion 1) Existence or occurrence: the company must provide the loan documents along with proof that they actually purchased the stocks and bonds using the loan money. It would also help to have a document explaining why the building site couldn't be acquired as planned.

Assertion 2) Rights and obligations: all the legal paperwork regarding the loan, the mortgage on the existing plant and the stocks and bond paperwork must be presented.

Assertion 3) Completeness: all the relevant information must be readily available including building titles, inventories, equipment, cash receipts, etc. The auditor should be allowed to physically visit the plant and confirm the documents.

Assertion 4) Valuation and allocation: information regarding the current market values of the building, inventories and equipment should be given. The auditor should be able to confirm if the depreciation values and market values are consistent. Also, the auditor must have access to accounts receivables and should be able to analyze them to check for any inconsistencies.

Assertion 5) Presentation and disclosure: the auditor should be able to check expense accounts and capitalization accounts, and analyze them. E.g. equipment or machinery repairs must be treated as expenses and not capitalized.

University Printers has two service departments Maintenance and Personnel and two operating departments Printing and Developing. Management has decided to allocate maintenance costs on the basis of machine-hours in each department and personnel costs on the basis of labor-hours worked by the employees in each.
The following data appear in the company records for the current period:
Maintenance Personnel Printing Developing
Machine-hours ? 455 455 2,590
Labor-hours 315 ? 294 1,491
Department direct cost 11,000 $23,000 $25,000 $23,000
Required: Allocate the service department costs using the reciprocal method. Negative amounts should be indicated by a minus sign. Do not round intermediate calculations.

Answers

Answer:

Machine hour percentages -Allocation of Maintenance Costs  

455 + 455 + 2,590 = 3,500 total machine hrs

Personnel = 455 / 3,500 = 13%

Printing  = 455 / 3,500 = 13%

Developing = 2,590 / 3,500 = 74%

Labor hr. percentages--Allocation of Personnel costs  

315 + 294 + 1,491 = 2,100 total labor hrs.    

Maintenance = 315 / 2,100 = 15%

Printing  = 294 / 2,100 = 14%

Developing = 1,491 / 2,100 = 71%

                                                                   Service

                                     Maintenance   Personnel   Printing    Developing

Costs before allocation          11,000    23,000       25,000       23,000

Allocate maintenance costs -11,000      1,430          1,430          8,140

                                                     0        24,430

Allocate personnel costs       3664.5      -24430        3420.2       17345.3

Allocate maintenance costs -3664.5      476.39        476.39         2711.73

Allocate personnel costs         71.46       -476.39          66.69       338.24

Allocate maintenance costs     -71.46       9.29              9.29        52.88

Allocate personnel costs         1.39           -9.29           1.3006      6.5959

Allocate maintenance costs    -1.39             0                 0                1.39

Total costs                                0.00           0.00          30403.87  51596.13

Workings

Allocate maintenance costs

Personnel = (11000 * 13%) = 1430

Printing = (11000 * 13%) = 1430

Developing =  (11000 * 74%) =  8140

Allocate personnel costs

Maintenance = 24430 * 15% =

Printing = (24430 * 14%) =

Developing = (24430 * 71%)  =

Allocate maintenance costs

Personnel = (3664.5 * 13%)

Printing = (3664.5 * 13%)

Developing = (3664.5 * 74%)

Allocate personnel costs

Maintenance = (476.39 * 15%)  

Printing = (476.39 * 14%)

Developing = (476.39 * 71%)

Allocate maintenance costs

Personnel = (71.46 * 13%)

Printing = (71.46 * 13%)

Developing = (71.46 * 74%)

Allocate personnel costs

Maintenance= (9.29 * 15%)

Printing = (9.29 * 14%)

Developing = (9.29 * 71%)

For Coppertone products, evaluations in the postpurchase behavior stage of the consumer purchase decision process that are most likely to cause dissatisfaction are

Answers

Answer:

dry skin and acne

Explanation:

Coppertone is an American brand name of a sunscreen. This brand is headquartered in Whippany, New Jersey. Coppertone the Coppertone girl logo and a different kind of fragrance.

For Coppertone products, evaluations in the post purchase behavior stage of the consumer purchase decision process that are most likely to cause dissatisfaction are dry skin and acne.

If there is a technological advance that lowers the cost of producing x-ray machines, then we can say that the

Answers

Answer:

C) quantity supplied of those machines will go up.

Explanation:

the options are missing:

A ) quantity demanded for those machines will increase.

B) demand for those machines will shift right.

C) quantity supplied of those machines will go up.

D) quantity supplied of those machines will decrease.

If production costs decrease, the supply curve will shift to the right, increasing the total quantity supplied while decreasing the sales price. Advances in technology increase productivity, which allows companies to supply a higher amount of goods at lower prices, which in turn increases the total quantity demanded for these goods.

Amy and Mitchell share equally in the profits, losses, and capital of the accrual basis AM Products LLC. The LLC does not need to report financial information to any third parties, so capital accounts are determined using tax rules (rather than GAAP). Amy is a managing member of the LLC (treated as a general partner) and is a U.S. person. At the beginning of the current tax year, Amy's capital account has a balance of $960,000, and the LLC has debts of $624,000 payable to unrelated parties. The debts are recourse to the LLC, but neither of the LLC members has personally guaranteed them. Assume that all LLC debt is shared equally between the partners. The following information about AM's operations for the current year is obtained from the LLC's records.


Ordinary income $900,000
W-2 wages to employees 200,000
Depreciation expense 300,000
Interest income from bond 4,000
Long-term capital loss 6,000
Short-term capital gain 12,000
Charitable contribution 4,000
Cash distribution to Amy 20,000
Unadjusted basis of partnership depreciable property 1,600,000

Year-end LLC debt payable to unrelated parties is $140,000.

Required:
What income, gains, losses, and deductions does Amy report on her income tax return?

Answers

Answer: See explanation

Explanation:

Share of ordinary income:

= (Ordinary income - Wages - Depreciation)/2

= (900,000 - 200,000 - 300,000)/2

= 400,000/2

= 200,000

Share of net short term capital gain

= (12,000 - 6,000) × 50%

= 6,000 × 0.5

= 3,000

Share of interest income

= 4000 × 50%

= 4000 × 0.5

= 2000

Share of charitable contribution deduction

= 4000 × 50%

= 4000 × 0.5

= 2000

The partnership of Angel Investor Associates began operations on January 1, 20Y5, with contributions from two partners as follows:

Dennis Overton $180,000
Ben Testerman 120,000

The following additional partner transactions took place during the year:

1. In early January, Randy Campbell is admitted to the partnership by contributing $75,000 cash for a 20% interest.
2. Net income of $150,000 was earned in 20Y5. In addition, Dennis Overton received a salary allowance of $40,000 for the year. The three partners agree to an income-sharing ratio equal to their capital balances after admitting Campbell.
3. The partners' withdrawals are equal to half of the increase in their capital balances from salary allowance and income.

Required:
Prepare a statement of partnership equity for the year ended December 31, 20Y5.

Answers

Answer:

450000

Explanation:

The statement of partners' capital shows the changes in each partner's capital account for the year or period being reported on. It has the same format as the statement of owner's equity except that it includes a column for each partner and a total column for the company rather than just one column. The statement starts with the beginning capital balance, followed by the amounts of investments made, the share of net income or loss, and withdrawals made during the reporting period to determine the capital balance at the end of the period.

                                          Dennis        Ben         Randy         Total capital

Balance jan1,20Y5           180,000   120,000         -                300,000

Admission of randy                -              -              75000            75000

Salary Allowance            40000          -                  -                 40000

Remaining income            52800     35200         22000          110,000

Partners withdrawals        (46400)   (17600)         (11000)         (75000 )

Balance Dec 31,2015       226400    137600        86000          450000

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