More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has developed the following per unit standard costs for 2019 for each baseball bat:
Direct Materials Direct Labor Manufacturing Overhead
Standard Quantity 2 Pounds (Aluminum) 1/2 hour 1/2 hour
Standard Price $4.00 $10.00 $6.00
Unit Standard Cost $8.00 $5.00 $3.00
In 2019, the company planned to produce 120,000 baseball bats at a level of 60,000 hours of direct labor. Actual results for 2019 are presented below:
1. Direct materials purchases were 246,000 pounds of aluminum which cost $1,020,900.
2. Direct materials used were 220,000 pounds of aluminum.
3. Direct labor costs were $575,260 for 58,700 direct labor hours actually worked.
4. Total manufacturing overhead was $352,000.
5. Actual production was 114,000 baseball bats.
Compute the following variances and identify whether the variance is favorable or unfavorable:
1. Direct Materials Price
2. Direct Materials Quantity
3. Direct Labor Price
4. Direct Labor Quantity
5. Total Overhead Variances
Prepare the journal entries to record the transactions and events in 2019.
Answers
Answer: See explanation
Explanation:
AP = 4.15
SP = 4.0
SQ = 114000 × 2 = 228000
1. Direct Materials Price
= (AQ × AP) - (AQ × SP)
= (246000 × 4.15) - (246000 × 4.0)
= 1020900 - 984000
= 369000 U
2. Direct Materials Quantity
= (AQ × SP) - (SQ × SP)
where SQ = 114000 × 2 = 228000
= (220000 × 4.0) - (228000 × 4.0)
= 880000 - 912000
= 32000 F
3. Direct Labor Price
= (AH × AR) - (AH × SR)
= (58700 × 9.8) - (58700 × 10)
= 575260 - 587000
= 11740
4. Direct Labor Quantity
= (AH × SR) - (SH × SR)
where, SH = 114000 × ½ = 57000
= (58700 × 10) - (57000 × 10)
= 587000 - 570000
= 17000 U
5. Total Overhead Variances
= 352000 - (57000 × 6)
= 352000 - 342000
= 10000 Unfavorable
Check attachment for further details
Related Questions
whistle works manufacturers safety whistle keychains. They have the following information available to prepare their master budget whistle works sells eafch whistle for $12. It takes .25 direct labor hours to produce each whistle at a cost of $15 per hour. How much will direct labor cost be in December
Answers
Answer:
See below
Explanation:
The above information is incomplete. However, similar question will be used.
Income can be earned through:
- A permanent job
- A seasonal job
- All of the above
Answers
all of the above
mark me brainliesttt :))
Determine the internal rate of return for a project that costs $177,000 and would yield after-tax cash flows of $21,000 per year for the first 5 years, $29,000 per year for the next 5 years, and $42,000 per year for the following 5 years.
Answers
Answer:
12.60 %
Explanation:
Using the CF function of a financial calculator the internal rate of return will be calculated as follows :
- $177,000 CF 0
$21,000 CF 1
5 shift Nj
$29,000 CF 2
5 shift Nj
$42,000 CF 3
5 shift Nj
Then
Shift IRR = 12.60 %
therefore,
the internal rate of return for a project is 12.60 %
Name four commercial services which are useful to the manufacturer
Answers
Answer:
hu
Explanation:
giyughhyyfrfjjtvvhi
If the U.S. engages in free trade and the international price of skateboards is $75, it would import _____ skateboards from the rest of the world.
Answers
ifthe U.S. engages in free trade and the international price of skateboards is $75, it would import _____ skateboards from the rest of the world.
Explanation:
answer would be 210
You are evaluating a potential investment in equipment. The equipment's basic price is $176,000, and shipping costs will be $3,500. It will cost another $17,600 to modify it for special use by your firm, and an additional $8,800 to install it. The equipment falls in the MACRS 3-year class that allows depreciation of 33% the first year, 45% the second year, 15% the third year, and 7% the fourth year. You expect to sell the equipment for 30,900 at the end of three years. The equipment is expected to generate revenues of $151,000 per year with annual operating costs of $77,000. The firm's marginal tax rate is 35.0%. What is the after-tax operating cash flow for year 1
Answers
Answer:
$71,881.45
Explanation:
The after-tax operating cash flow for year 1 is simply the net income plus depreciation for year 1 since depreciation needs to be added back to net income as it is not a cash outflow in the actual sense.
net income=(revenue-annual operating costs-depreciation)*(1-tax rate)
revenue=$151,000
annual operating costs=$77,000
depreciation expense for year 1=($176,000+$3,500+$17,600+$8,800)*33%
depreciation expense for year 1=$67,947.00
tax rate=35.0%
net income=($151,000-$77,000-$67,947)*(1-35%)
net income=$3,934.45
after-tax operating cash flow for year 1=$3,934.45+$67,947.00
after-tax operating cash flow for year 1= $71,881.45
Bramble Company purchased a new van for floral deliveries on January 1, 2018. The van cost $66000 with an estimated life of 5 years and $13500 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the balance of the Accumulated Depreciation account at the end of 2019
Answers
Answer:
$42,240
Explanation:
The computation of the balance of the Accumulated Depreciation account at the end of 2019 is as follows;
But before that the depreciation rate is
= 1 ÷ 5 × 2
= 40%
For the first year, the depreciation expense is
= $66,000 × 40%
= $26,400
Now for the 2019, the depreciation expense is
= ($66,000 - $26,400) × 40%
= $15,840
Now the accumulated depreciation is
= $26,400 + $15,840
= $42,240
Hide or show questions Progress:10/40 items Roman Industries' plant operates five days per week with a daily payroll of $6,000. Employees are paid every Saturday for the workweek just completed (Monday through Friday). The last day of the month is Wednesday, March 31. What is the amount of Wages Expense recorded on the next payday, Saturday, April 3
Answers
Answer:
$12,000
Explanation:
Calculation to determine the amount of Wages Expense recorded on the next payday, Saturday, April 3
Wages Expense =$6,000*2days
Wages Expense = $12,000
Therefore the amount of Wages Expense recorded on the next payday, Saturday, April 3 will be $12,000
Identify which statement is a characteristic of long-run for a firm.
A. Time period with at least one fixed element
B. Time period with the least control over constraints
C. Time period of determining quantity and cost that yields the greatest profit
D. Time period when constraints are most likely to be variable
Answers
Answer:
D. Time period when constraints are most likely to be variable
Explanation:
The long run period of a firm is when the factors of production such as land, labor , capital etc varies. In this period, a firm is flexible in its production decision due to the variability in the factors of production.
In the long run, a firm has time to build a bigger factory hence respond to changes in demand. Also, the price level(general), expectation, and contractual wages , all adjust to the prevailing economic condition in the long run period.
Answer:
D. Time period when constraints are most likely to be variable
Explanation:
The long run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs, whereas in the short run firms are only able to influence prices through adjustments made to production levels.
You are offered the following investments: You can invest $500 today and receive $600 in 5 years. The investment is low risk. You can invest the $500 in a bank account paying 4%. What is the implied interest rate for the first choice, and which investment should you choose
Answers
Answer:
500
Explanation:
Synthetic clothing releases fibers during the washing process, which then end up poisoning rivers, lakes, and oceans. Fish and other wildlife consume the microfibers, accumulating toxins in their bodies that can become concentrated as they travel up the food chain. The production of synthetic clothing is an example of market failure due to:___________
a) the nature of public goods.
b) asymmetric information
c) external costs
d) misinformation
Answers
Answer:
c) external costs
Explanation:
The production of synthetic clothing represent the example of the external cost as the external costs is the cost that are spend by an individual or firm in which the outcome of an economic transaction that are indirectly included. In this the cost could occurs from both the production and the consumption
So as per the given situation, the option c is correct
Drag each tile to the correct box.
Match each type of social media to its description.
allows users to provide short
updates to followers
connects individuals with common
relationships or interests
creates a space for individuals to
share knowledge on a specific topic
social network
arrowRight
discussion forum
arrowRight
microblogging
arrowRight
Reset Next
Answers
Answer:
1. Microblogging.
2. Social network.
3. Discussion forum.
Explanation:
1. Microblogging: it is an online platform or web resource designed and developed to avail end users with the opportunity to provide short updates to followers. One of the most commonly used microblogging platform in the world is Twi-tter. Others include Tumblr, Pinterest, WordPress, blog etc.
2. Social network: it is a software application, online platform or web resource designed and developed to connect individuals with common relationships or share similar interests. Face-book is one of the most widely used social network in the world today. Other social network include You-Tube, Hangout, Insta-gram, etc.
3. Discussion forum: it is an online platform or software application designed and developed to create a space for various individuals, especially registered members to share knowledge on a specific topic ranging from sports, education, comedy, movies, jobs, politics, romance, crime, books, food, etc. Some examples of discussion forum are Reddit, nairaland, etc.
Answer:
social network - connects individuals
discussion forum - creates a space
microblogging - allows users
plato
Calc, Inc. owns a machine that produces baskets for the gift packages the company sells. The company uses 900 baskets in production each month. The costs of making one basket is $4 for direct materials, $3 for variable manufacturing overhead, $2 for direct labor, and $5 for fixed manufacturing overhead. The unit cost is based on the monthly production of 900 baskets. The company determined that 30% of the fixed manufacturing overhead is avoidable. An outside supplier has offered to sell Calc the baskets for $13 each, and can supply all the units it needs.
Required:
a. Prepare an incremental analysis to determine if Calc should buy the baskets from the supplier.
b. Show the impact on net income and indicate whether they should make or buy the baskets.
Answers
Answer:
Cost Structure of producing 900 units
Particulars Cost Monthly Total cost
per unit production Units
Direct material cost 4 900 $3,600
Direct Labor 2 900 $1,800
Variable manufacturing overheads 3 900 $2,700
Fixed Manufacturing overhead
Avoidable (30% of $5) 2 900 $1,350
Unavoidable (70% of $5) 4 900 $3,150
Total cost of making 900 units $12,600
Cost Structure of buying 900 units from outside supplier
Particulars Cost per Units required Total cost
unit to buy
Cost of purchase 13 900 $11,700
Fixed Manufacturing overhead
Unavoidable $3,150
Total cost of buying 900 units $14,850
Conclusion: Because the cost of making is lesser than cost of buying bythe amount of $2,250, the company will have to choose option of making the basket.
Taylor owns a boutique and needed to compute her inventory of all the scarves and jackets. She had 35 scarves on the floor and five in the storeroom. She had 15 jackets on the floor and eight more in the storeroom. Sally purchased each scarf for $28 and each jacket for $95. The weighted average unit cost of scarves and jackets being sold is:________
a. $54.63
b. $61.50
c. $48.70
d. $52.46
Answers
Answer:
d. $52.46
Explanation:
The computation of the weighted average unit cost of scarves and jackets being sold is shown below:
Taylor Scarves Jacket Total Note
Floor 35.00 15.00
Storeroom 5.00 8.00
Total 40.00 23.00 63.00 A
Purchase price $28.00 $95.00 B
Purchase cost $1,120.00 $2,185.00 $3,305.00 C = (A × B)
Weighted average unit cost $52.46 (C ÷ A)
hence, the option d is correct
If Wolves Entertainment Company is acting in the best interests of stockholders (following the primary goal of the firm), which of the following is the optimal (best) capital structure for the firm?
A. Debt = 50%, Equity = 50%, EPS = $3.05, Stock price = $29.90, Cost of Debt = 3.5%.B. Debt = 80%, Equity = 20%, EPS = $3.28, Stock price = $29.70, Cost of Debt = 5.8%.C. Debt = 40%, Equity = 60%, EPS = $2.95, Stock price = $30.50, Cost of Debt = 3.0%.D. Debt = 60%, Equity = 40%, EPS = $3.18, Stock price = $31.20, Cost of Debt = 4.0%.E. Debt = 70%, Equity = 30%, EPS = $3.42, Stock price = $30.40, Cost of Debt = 5.0%.
Answers
Answer: D. Debt = 60%, Equity = 40%, EPS = $3.18, Stock price = $31.20, Cost of Debt = 4.0%.
Explanation:
Since the company is acting in the best interests of stockholders the optimal capital structure for the firm will be option D "Debt = 60%, Equity = 40%, EPS = $3.18, Stock price = $31.20, Cost of Debt = 4.0%".
In this case, the price is at maximum when compared to other options, therefore the value of the shareholders will be maximize.
Three major segments of the transportation industry are motor carriers, such as YRC Worldwide (YRCW); railroads, such as Union Pacific (UNP); and transportation logistics services, such as C.H. Robinson Worldwide, Inc. (CHRW). Financial statement information for these three companies follows (in thousands): YRC Union Pacific C.H. Robinson Sales $4,697,500 $19,941,000 $13,144,413 Average total assets 1,824,700 55,159,000 3,436,058 a. Determine the asset turnover for all three companies. Round to one decimal place. YRC Worldwide fill in the blank 1 Union Pacific fill in the blank 2 C.H. Robinson Worldwide fill in the blank 3 b. The ratio of sales to assets measures the number of sales dollars earned for each dollar of assets. The greater the number of sales dollars earned for every dollar of assets, the efficient a firm is in using assets.
Answers
Answer and Explanation:
The computation is shown below:
a) Assets turnover
Particulars YRC UNP CH
Sales $4,697,500 $19,941,000 $13,144,413
Average total assets $1,824,700 $55,159,000 $3,436,058
Assets turnover 2.6 0.4 3.8
b. The ratio of sales to assets calculated the sales dollars i.e. earned for each assets. The more the no of sales dollars the more the firm would be considered efficient
During February, $75,150 was paid to creditors on account, and purchases on account were $96,190. Assuming the February 28 balance of Accounts Payable was $32,310, determine the account balance on February 1.
Answers
Answer:
$45,000
Explanation:
Given the above information, the account balance on February 1 is computed below;
Balance of account payable Feb 28 + Cash paid to creditors in February - Purchases on account
= $59,900 + $186,500 - $201,400
= $45,000
Therefore, the account balance on February 1 is $45,000
Walt performs the steps below while saving Excel file “My Data.”
Click File → Click Save As → Choose Text (Tab delimited) → Click Save
What is Walt most likely trying to do with the Excel file?
A export data from the Excel file to a Notepad file
B export data from a Notepad file to the Excel file
C import data from the Excel file to an XML data file
D import data from an XML data file to the Excel file
Answers
Answer:
A. export data from the Excel file to a Notepad file
Explanation:
An electronics firm produces smart phones for sale to the worldwide market. One of the most crucial process-related competitive operational priorities for this firm is:
Answers
Answer:
Flexibility
Explanation:
Given that there are three types of process-related competitive priorities in which firms utilize to remain competitive in the market. These processes include:
1. flexibility
2. Innovation
3. sustainability
Flexibility in this situation is mostly referred to as adaptation to market changes. Given that this is a technological market, and it is often bound to quick changes and dynamism, especially in terms of customer taste and preferences, huge competitors, and shorter span of the technological product,
Hence, for this electronic company making smartphones, one of the most crucial process-related competitive operational priorities for the firm is Flexibility. This is due to various competitors coming with new models in short stints.
Project ____ includes identifying project tasks and estimating completion time and costs. Group of answer choices Planning. Scheduling. Monitoring and controlling. Reporting.
Answers
Answer:
Project _Planning___ includes identifying project tasks and estimating completion time and costs.
Explanation:
Project Planning is one of the five stages of project management, which starts with project initiation, planning, execution, performance monitoring, and project close. Project scheduling is an activity carried out within project planning. After a project is executed, its performance needs to be monitored, controlled, and finally reported to the project owners to bring it to a successful close.
Distribution Corporation collects 35% of a month's sales in the month of sale, 45% in the month following sale, and 20% in the second month following sale. Budgeted sales for the upcoming four months are:
The amount of cash that will be collected in July is budgeted to be
A. $66.500
B. $183,000
C. $171,000
D. $116, 500
Answers
Answer:
B. $183,000
Explanation:
Calculation to determine The amount of cash that will be collected in July is budgeted to be
Budgeted collection in July = July sales (190,000*35%) + June sales (210,000*45%) + May sales (110,000*20%)
Budgeted collection in July =$66,500 +$94,500 + $22,000
Budgeted collection in July=$183,000
Therefore The amount of cash that will be collected in July is budgeted to be $183,000
Capital budgeting is the process of analyzing: Group of answer choices Cash outflows only. Investments with certain outcomes only. Short-term investments. Operating revenues. Long-term investments.
Answers
Answer:
Long-term investments.
Explanation:
Capital budgeting can be regarded as process that is been utilized by business in determining the type proposed fixed asset purchases that need to be declined or should be accepted. This process helps in creating quantitative view as regards the proposed fixed asset investment, so that rational basis to make make a judgment can be surfaced. It should be noted that Capital budgeting is the process of analyzing Long-term investments.
On December 31, 2020, Dow Steel Corporation had 610,000 shares of common stock and 31,000 shares of 9%, noncumulative, nonconvertible preferred stock issued and outstanding. Dow issued a 4% common stock dividend on May 15 and paid cash dividends of $410,000 and $70,000 to common and preferred shareholders, respectively, on December 15, 2021. On February 28, 2021, Dow sold 63,000 common shares. In keeping with its long-term share repurchase plan, 2,000 shares were retired on July 1. Dow's net income for the year ended December 31, 2021, was $2,150,000. The income tax rate is 25%.
Required:
Compute Dow's earnings per share for the year ended December 31, 2021.
Answers
Answer:
$3.02 per share
Explanation:
The computation of the earning per share is shown below:
we know that
Earnings per share = (Net income - preferred dividend) ÷ Weighted average outstanding common shares
= ($2,150,000 - $70,000) ÷ 688,000 shares
= $3.02 per share
Date Particulars No. of shares
01/01-31/12 610000 × 12 ÷ 12 (610000 × 1.04) $634,400
28/02-31/12 63000 × 10 ÷ 12 (52500 × 1.04) $54,600
01/07-31/12 (2000) × 6 ÷ 12 -$1,000
Weighted average outstanding common shares 688,000
In cost-volume-profit analysis, the unit contribution margin is: Group of answer choices Sales price per unit less unit total cost per unit. Sales price per unit less unit fixed cost per unit. Sales price per unit less total variable cost per unit. )Sales price per unit less cost of goods sold per unit. The same as the contribution margin ratio.
Answers
Answer: Sales price per unit less total variable cost per unit.
Explanation:
Cost-volume-profit analysis works by dividing the expenses faced by a business in the production and/ or selling of goods into fixed and variable costs.
To calculate the contribution margin in such a scenario, the Total variable cost incurred per unit is deducted from the sales price per unit. From this figure, the fixed cost can then be subtracted to find the operating income per unit.
If one wants to find the breakeven volume, you can divide the Fixed assets by the Contribution margin.
There will be a lower equilibrium price and quantity if
O demand increases and supply increases
o demand increases and supply decreases
O demand decreases and supply stays the same
O none of the above
Answers
Answer: demand decreases and supply stays the same
Explanation:
The equilibrium price refers to the price whereby the quantity of goods that's demanded and the quantity of goods that's supplied is equal.
On the other hand, the equilibrium quantity is gotten when the quantity of goods demanded and supplied are equal. This is gotten when the demand curve and the supply curve intersects.
It should be noted that there will be a lower equilibrium price and quantity if
In a situation whereby the demand increases and the supply remains the same, the equilibrium quantity and the equilibrium price will increase and vice versa.
Given the following values of economic aggregates as a percentage of GNP in the U.S. Find the current account balance and the financial (capital) account balance assuming that statistical discrepancy is zero.
Unilateral Transfers = - 1.5%
Exports = 2.2%
Imports = 4.3%
Investment = 16%
Taxes = 12%
Government Exp. =. 17%
Private Saving. = 12%
Answers
hiiiiiiiiiiiiiiiiiii
Barbara's Baskets Company expects to manufacture and sell 30,000 baskets in 2019 for $5 each. There are 4,000 baskets in beginning finished goods inventory with target ending inventory of 9,000 baskets. The company keeps no work-in-process inventory. What amount of sales revenue will be reported on the 2019 budgeted income statement
Answers
Answer:
Sales revenue= $150,000
Explanation:
Giving the following information:
Barbara's Baskets Company expects to manufacture and sell 30,000 baskets in 2019 for $5 each.
The sales revenue is calculated as follow:
Sales revenue= number of units sold*selling price per unit
Sales revenue= 30,000*5
Sales revenue= $150,000
During a job interview, Dario was unable to answer the interviewer's final question because it was slightly technical and he did not know the answer. He is worried that this one answer may cost him the job even though the rest of the interview went well. To possibly salvage his situation, Dario should
Answers
Answer:
He should restate a positive point that he would like the interviewer to know.
Explanation:
In an interview it is very important to create an impression that one can recover from a negative situation and stay positive.
In the given scenario where Dario was unable to answer the interviewer's final question because it was slightly technical and he did not know the answer, the way to express positivity is to restate a positive point that he will like the interveiwer to know.
In the interviewer's mind the conversation will now end on a positive note.
Select the behavior that does NOT represent an example of a speaker effectively preparing for a lecture.
a. John types up a copy of his speech in case he has an unexpected moment of stage fright.
b. Eva memorizes her entire speech because she wants to avoid the rigidity of reading off of a piece of paper.
c. Matt has anxiety about giving his speech, so he works on his linguistics homework to distract himself.
d. Molly records herself giving her speech and plays it back to be sure that she is speaking clearly.
Answers
Answer:
c. Matt has anxiety about giving his speech, so he works on his linguistics homework to distract himself.
Explanation:
The behavior that represent the examples with respect to the speaker effectively preparing for the lecture are as follows:
a. The john types a copy of his speech where there is non expected moment comes
b. Eva remember her total speech as she want to neglect the rigidity
c, The molly records her speech and she plays it back so to be sure that she speaks clearly or not
So as per the given situation, the option c should be considered
Producers of Ocean Spray cranberry products decided to make Craisins (and dried cranberry snack food) available in convenience stores, supermarkets, and vending machines, it was involved with determining ______ strategy.