Answer:
hello your question is incomplete below is the complete question
Mr. Smith decides to feed his pet Doberman pinscher a combination of two dog foods. Each can of brand A contains 3 units of protein, 1 unit of carbohydrates, and 2 units of fat and costs 80 cents. Each can of brand B contains 1 unit of protein, 1 unit of carbohydrates, and 6 units of fat and costs 50 cents. Mr. Smith feels that each day his dog should have at least 6 units of protein, 4 units of carbohydrates, and 12 units of fat. How many cans of each dog food should he give to his dog each day to provide the minimum requirements at the least cost? *Mr. Smith should give his dog ___ can(s) of brand A and ___ can(s) of brand B
answer : 1.5 cans of brand A and 1.5 cans of brand B
Explanation:
Food A contains :
3 units of protein , 1 unit of carbohydrates, 2 units of fat
cost of food A = 80 cents
Food B contains :
1 unit of protein , 1 unit of carbohydrates, 6 units of fat
cost of food B = 50 cents
minimum ingredients required in the dog food daily
6 units of protein , 4 units of carbohydrates, 12 units of fat
In order to achieve the minimum/least cost of 195 cent. Mr. smith should give his dog 1.5 cans of Brand A and 1.5 can of brand B
attached below is the detailed solution
The company recorded $5,000 sales with 60% contribution margin ratio in 2019. According to the sales manager, the company can increase the sales volume by 30% this year if the company spends $400 as advertisement expense and decreases the selling price by 10%, while unit variable cost remains the same. If CEO approves the plan, how does it affect the net operating income in 2020
Answer:
$150 Decrease
Explanation:
Income Statement
Present Proposed
Sales $5,000 $5,350 [(5000+30%)-10%]
Variable 10% $2,000 $2,000 (2000*130%)
Contribution Margin $3,000 $3,250
Fixed cost - $400
Net Operating Income $3,000 $2,850
Effect on Net Operating Income = $2,850 - $3,000 = -$150
Kyle had a splitting headache. His buddy Cyrus gave him a couple of lime-green pills to take away the pain. When Kyle awoke, Cyrus was lying next to him in a pool of blood. If Kyle is tried for a crime, what could be his defense?
insanity
duress
intoxication
necessity
Answer:
necessity
Explanation:
This is necessity beause it might have been on accident to help cyrus but became a bloody murder,seems like a 3rd or a second degree murder,most likely 3rd degree,it just happend.
Answer:
C
Explanation:
bro read it and u'll know other person is wrong
Garcia Industries has sales of $176,500 and accounts receivable of $18,500. Assume all sales to be on credit. The industry average DSO is 27 days, based on a 365-day year. If the company changes its credit and collection policy sufficiently to cause its DSO to fall to the industry average, and if it earns 3.0% on any cash freed-up by this change, assuming other things are held constant, by how much would the net income be affected?
Answer:
$163.32
Explanation:
Days Sales Outstanding = 365 * Accounts receivable / Sales
If the Days Sales Outstanding falls to the industry average:
27 = 365 * Accounts receivable / $176,500
27 * $176,500 = 365 * Accounts receivable
Accounts receivable = 27 * $176,500 / 365
Accounts receivable = $13,056.16
Increase in net income = Decrease in accounts receivable * 3%
Increase in net income = ($18,500 - $13,056.16) * 3%
Increase in net income = $5,443.84 * 3%
Increase in net income = $163.3152
Increase in net income = $163.32
A household consists of a married couple and their two-year-old daughter. The couple's daughter had no income and lived with her parents all of last year. How many exemptions can the couple claim on last year's tax return if they file with the "Married filing jointly" status?
Answer:
3 is the answer
Quickbooks Online. IRS guidelines require specific information to substantiate deductible automobile expenses. Which 3 items are included in the substantiation requirements?
Answer:
✓Vehicle type
✓date placed in service
✓total mileage (including business, commuting and personal)
Explanation:
IRS guidelines available for automobile
deductible is that if one is using his cat for business purposes, the entire cost of ownership as well as operation can be deducted. But if the car is for business and personal purposes, the cost for the business use can be deducted.
The three items that are are included in the substantiation requirements are;
✓Vehicle type
✓date placed in service
✓total mileage (including business, commuting and personal)
The glue is not a significant cost, so it is treated as indirect materials (factory overhead). a. Journalize the entry to record the purchase of materials in April. If an amount box does not require an entry, leave it blank. a. Materials fill in the blank 0405c7fed078fd8_2 fill in the blank 0405c7fed078fd8_3 Accounts Payable fill in the blank 0405c7fed078fd8_5 fill in the blank 0405c7fed078fd8_6 b. Journalize the entry to record the requisition of materials in April. If an amount box does not require an entry, leave it blank. b. fill in the blank 6c73b5f42041fa9_2
Answer:
Note: The missing question is attached as picture
a. Accounts title & Explanations Debit$ Credit$
Material inventory 641,200
($122,700+$170,600+$336,200+$11,700)
Accounts payable 641,200
(For material purchased on account)
Note: Both, Direct material and Indirect material is included in Materials
b. Accounts title & Explanations Debit$ Credit$
Work in process inventory 652,300
($233,700+$211,300+$136,200)
Manufacturing Overheads 6,100
Material inventory 658,400
(For material issued for production both as direct and indirect material)
Note: Requisition of direct materials are charged to WIP and requisition of indirect materials forms part of factory overhead.
On February 1, 2021, the Xilon Corporation issued 47,000 shares of its no-par common stock in exchange for five acres of land located in the city of Monrovia. On the date of the acquisition, Xilon's common stock had a fair value of $16 per share. An office building was constructed on the site by an independent contractor. The building was completed on November 2, 2021, at a cost of $6,800,000. Xilon paid $4,400,000 in cash and the remainder was paid by the city of Monrovia.
Assuming that Xilon prepares its financial statements according to International Financial Reporting Standards, select all the correct alternatives the company has for recording the acquisition of the office building.
a. Same treatment as GAAP.
b. Deduct the amount of the grant in determining the initial cost of the office building.
c. Record the grant as a liability, deferred income, in the balance sheet and recognize it in the income statement systematically over the office building's useful life.
Answer:
a. Same treatment as GAAP.
Explanation:
the journal entry should be:
Dr Land 752,000
Dr Building 6,800,000
Cr Common stock 752,000
Cr Cash 4,400,000
Cr Donation revenue 2,400,000
the donation is not a deferred liability, nor the basis of the building be reduced by it.
3) Tobi owns a perpetuity that will pay $1,500 a year, starting one year from now. He offers to sell you all of the remaining payments after the next 25 payments have been paid. (A) What price should you offer him for payments 26 onward if you desire a rate of return of 8 percent
Answer:
you should pay up to $2,737.84 to Tobi
Explanation:
first, the terminal price of the perpetuity must be determined = annual payment / r = $1,500 / .08 = $18,750
now, the present day value of the future terminal value
present value = future value / (1 + r)ⁿ = $18,750 / (1 + 8%)²⁵ = $2,737.84
Consumers spend _______ a year on credit card penalties and fees.
$10 million
$110 billion
$90 billion
$80 million
An alumnus of West Virginia University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely. The donor plans to give money now and for each of the next 2 years. If the size of each donation is exactly the same, the amount that must be donated each year at i = 8% per year is closest to:___.
a) $190.820.
b) $122.280.
c) $127.460.
d) $132.040.
Answer:
A
Explanation:
Present value of a perpetuality = amount / interest rate
= $40,000 / 0.08 = $500,000
Let D denote denote denotions
[tex]D + \frac{D}{1 + 0.8} + \frac{D}{1.08^{2} } = $500,000[/tex]
D = $190.820.
You borrow $6,230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interest of 6 percent. What is the amount of each payment?a. $115.26b. $88.74c. $113.78d. $120.44e. $89.29
Answer:
orrow $6230 to buy a car. The terms of the loan call for monthly payments for 5 years a rate of interes… ... of interest of 6 percent.
Explanation:
Roquan, a single taxpayer, is an attorney and practices as a sole proprietor. This year, Roquan had net business income of $90,000 from his law practice (net of the associated for AGI self-employment tax deduction). Assume that Roquan pays $40,000 in wages to his employees, has $10,000 of property (unadjusted basis of equipment he purchased last year), and has no capital gains or qualified dividends. His taxable income before the deduction for qualified business income is $100,000.
1. Calculate Roquan's deduction for qualified business income.
2. Assume the same facts as earlier, except Roquan's taxable income before the deduction for qualified business income is $300,000.
Answer:
A. $18,000
B. No QBI deduction
Explanation:
a) Calculation for Roquan’s deduction for qualified business income.
Using this formula
Roquan's qualified business income.
= 20% x QBI
Let plug in the formula
Roquan's qualified business income
= 20% x $90,000
Roquan's qualified business income= $18,000
Therefore Roquan’s deduction for qualified business income will be $18,000
b) Based on the information given if we assumed that Roquan's taxable income before the deduction for qualified business income is the amount of $300,000 which means that Roquan's income is higher than the amount of $213,300 hence, NO qualified business income deduction (QBI) will be allowed.
Consider the following transactions for Huskies Insurance Company:
a. Equipment costing $42,000 is purchased at the beginning of the year for cash. Depreciation on the equipment is $7,000 per year.
b. On June 30, the company lends its chief financial officer $50,000; principal and interest at 7% are due in one year.
c. On October 1, the company receives $16,000 from a customer for a one-year property insurance policy. Deferred Revenue is credited.
For each item, record the necessary adjusting entry for Huskies Insurance at its year-end of December 31. No adjusting entries were made during the year.
Answer:
31-Dec
Dr Depreciation expense $7,000
Cr Accumulated Depreciation - Equipment $7,000
31-Dec
Dr Interest receivable $1,750
Cr Interest revenue $1,750
31-Dec
Dr Deferred Revenue $4,000
Cr Revenue or Service Revenue $4,000
Explanation:
Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.
31-Dec
Dr Depreciation expense $7,000
Cr Accumulated Depreciation - Equipment $7,000
(Being to adjust 12 month depreciation)
31-Dec
Dr Interest receivable ($50,000 x 7% x 6/12) $1,750
Cr Interest revenue $1,750
(Being to adjust 6 month interest revenue accrued)
31-Dec
Dr Deferred Revenue ($16,000 x 3/12) $4,000
Cr Revenue or Service Revenue $4,000
(Being to record earned revenue for 3 months)
Mechem Corporation produces and sells a single product. In April, the company sold 2,000 units. Its total sales were $151,000, its total variable expenses were $79,700, and its total fixed expenses were $56,600. Required: a. Construct the company's contribution format income statement for April. (Do not round intermediate calculations.) b. Redo the company's contribution format income statement assuming that the company sells 1,900 units. (Do not round intermediate calculations.)
Answer:
See below
Explanation:
Sales
$151,000
Less:
Variable cost
($79,700)
Contribution margin
$71,300
Less:
Fixed cost
($56,600)
Ney profit
Transactions for Buyer and Seller Shore Co. sold merchandise to Blue Star Co. on account, $111,200, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $66,720. Shore paid freight of $1,800. Journalize Shore Co.'s entry for the sale, purchase, and payment of amount due, using the net method under a perpetual inventory system. If an amount box does not require an entry, leave it blank. Inventory fill in the blank 002d1202e07bfb8_2 fill in the blank 002d1202e07bfb8_3 Accounts Payable fill in the blank 002d1202e07bfb8_5 fill in the blank 002d1202e07bfb8_6 Accounts Payable fill in the blank 002d1202e07bfb8_8 fill in the blank 002d1202e07bfb8_9 fill in the blank 002d1202e07bfb8_11 fill in the blank 002d1202e07bfb8_12 fill in the blank 002d1202e07bfb8_14 fill in the blank 002d1202e07bfb8_15 fill in the blank 002d1202e07bfb8_17 fill in the blank 002d1202e07bfb8_18 fill in the blank 002d1202e07bfb8_20 fill in the blank 002d1202e07bfb8_21 fill in the blank 002d1202e07bfb8_23 fill in the blank 002d1202e07bfb8_24 Journalize Blue Star Co.'s entry for the sale, purchase, and payment of amount due. If an amount box does not require an entry, leave it blank. fill in the blank 2aa3cd04cfa0046_2 fill in the blank 2aa3cd04cfa0046_3 fill in the blank 2aa3cd04cfa0046_5 fill in the blank 2aa3cd04cfa0046_6 fill in the blank 2aa3cd04cfa0046_8 fill in the blank 2aa3cd04cfa0046_9 fill in the blank 2aa3cd04cfa0046_11 fill in the blank 2aa3cd04cfa0046_12
Answer:
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
Dr Accounts Payable $111,560
Cr Cash $111,560
Explanation:
Preparation of the journal entries for Shore Co.'s entry for the sale, purchase, and payment of amount due
SHORE CO BOOKS:
Dec 31
Dr Accounts receivables Blue star Co. $109,760
Cr Sales $109,760
[$112,000*(100%-2%)]
Dec 31
Dr Cost of goods sold $66,720
Cr Inventory $66,720
Dec 31
Dr Cash $111,560
Cr Account receivable Blue star Co. $111,560
($109,760+$1,800)
Dec 31
Dr Account receivable Blue star Co $1,800
Cr Cash $1,800
BLUE STAR CO BOOKS
Dr Inventory $111,560
Cr Accounts Payable $111,560
($109,760+$1,800)
Dr Accounts Payable $111,560
Cr Cash $111,560
($109,760+$1,800)
Sawyer Industries began business at the start of the current year. The company planned to produce 25,000 units, and actual production conformed to expectations. Sales totaled 22,000 units at $30 each. Costs incurred were: Variable manufacturing overhead per unit $ 8 Fixed manufacturing overhead 150,000 Variable selling and administrative cost per unit 2 Fixed selling and administrative cost 100,000 If there were no variances, the company's absorption-costing income would be:
Answer:
$208,000
Explanation:
The computation of the absorption-costing income is shown below:
As we know that
Net income = Gross profit - variable expense - fixed expense
where,
Gross profit is
= Sales - cost of goods sold
= (22000 units at $30) - (22,000 units at $14)
= $660,000 - $308,000
= $352,000
The $14 come from
= 8 + 150,000 ÷ 25,000
= 8 + 6
= 14
Now the variable expense is
= 22000 at $2
= $44,000
And, the fixed expense is $100,000
So, the net income is
= $352,000 - $44,000 - $100,000
= $208,000
Which examples demonstrate common Law Enforcement Services workplaces and employers? Check all that apply.
Otto is a self-employed worker who provides legal advice to people accused of crimes.
Peng monitors people who are swimming at a beach.
Candie oversees legal proceedings in a courtroom to make sure laws are followed properly.
Zoraida works for the municipal government investigating crime scene evidence in a laboratory.
Colleen inspects travelers and baggage in an airport.
Asa sits in an office filling out paperwork to document crimes.
Answer:
Zoraida works for the municipal government investigating crime scene evidence in a laboratory.
Colleen inspects travelers and baggage in an airport.
Asa sits in an office filling out paperwork to document crimes.
Explanation:
Criminal justice and law enforcement provide challenging but rewarding career paths. The examples of common law enforcement Services workplaces and employers are options 3,4, and 6.
What are some examples of common law enforcement services?Local legal institutions include police departments and sheriffs. State agencies include state or highway patrol. Government agencies include the FBI and the U.S. Secret Service.
Local, regional, and individual levels of government provide different types of public office.
Hence, the examples of common Law Enforcement Services are
Option 3. Candie oversees legal proceedings in a courtroom to make sure laws are followed properly.Option 4. Zoraida works for the municipal government investigating crime scene evidence in a laboratory.Option 6. Asa sits in an office filling out paperwork to document crimes.To learn more about common law enforcement services. refer to the link:
https://brainly.com/question/25967537
Sawyer Manufacturing Corporation uses a predetermined overhead rate based on direct labor-hours to apply manufacturing overhead to jobs. Last year, the Corporation worked 57,000 actual direct labor-hours and incurred $345,000 of actual manufacturing overhead cost. The Corporation had estimated that it would work 55,000 direct labor-hours during the year and incur $330,000 of manufacturing overhead cost. The Corporation's manufacturing overhead cost for the year was:
Answer:
Underapplied by $3,000
Explanation:
Calculation for what The Corporation's manufacturing overhead cost for the year was:
First step is to calculate the Predetermined Overhead rate
Predetermined Overhead rate=( $ 330,000/ 55,000)
Predetermined Overhead rate= $ 6 per labor hour
Now let calculate the Manufacturing overhead cost
Manufacturing overhead cost= (6 x 57 000)-$345,000
Manufacturing overhead cost=$342,000-$345,000
Manufacturing overhead cost=Underapplied by $3,000
Therefore The Corporation's manufacturing overhead cost for the year was:underapplied by $3,000
When originally purchased, a truck costing BD 23.000 had an estimated useful life of 8 years and an estimated salvage value of BD 3,000. After 4 years of
straight-line depreciation, the ascet's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage valoe. The
depreciation expense in year 3 cquals:
ABD 5,000
O & BD 5.750.
O CBD 2.875.
ODBD 2,500.
Answer:
d. BD 2,500
Explanation:
Accumulated Depreciation through the end of year 4 = [ Asset's cost - Salvage Value) / Estimated Useful Life] * Years Elapsed
= [(23,000 - 3,000)/8] * 4
= BD 10,000
Depreciation in Year 3 = [Asset's cost - Salvage Value - Accumulated Depreciation] / Remaining Estimated Useful Life
Depreciation in Year 3 = [23,000 - 3,000 - 10,000] / 4
Depreciation in Year 3 = 10,000 / 4
Depreciation in Year 3 = BD 2,500
Partial balance sheet data for Diesel Additives Company at August 31 are as follows:Finished goods inventory................$ 89,400Supplies.............................................$ 13,800Prepaid insurance..................................9,000Materials inventory..............................26,800Accounts receivable...........................348,200Cash.....................................................167,500Work in process inventory..................61,100Prepare the Current Assets section of Diesel Additives Company's balance sheet at August 31.
Answer:
Diesel Additives Company
Current Assets section
Materials inventory 26,800
Work in process inventory 61,100
Finished goods inventory 89,400
Supplies 13,800
Prepaid insurance 9,000
Accounts receivable 348,200
Cash 167,500
Total Current Assets 715,800
Explanation:
Current Assets section of Diesel Additives Company's balance sheet at August 31 is shown above.
On January 1, 2015, Lake Co. purchased a machine for $1,056,000 and calculated depreciation using the straight-line method, with an estimated useful life of eight years, and no salvage value. On January 1, 2018, Lake determined that the machine had a useful life of six years from the date of acquisition, and a salvage value of $96,000. An accounting change was made in 2018 to reflect these data. The accumulated depreciation for this machine should have a balance at December 31, 2018, of ________. Group of answer choices
Answer:
$584,000
Explanation:
The computation of the accumulated depreciation is shown below:
But before that following calculations need to be determined
Depreciation for 3 years = $1,056,000 ÷ 8 years × 3 years
= $396,000
Now the written down value is
= $1,056,000 - $396,000 - $96,000
= $564,000
For one year it would be
= $564,000 ÷ 3
= $188,000
Now the accumulated depreciation is
= $396,000 + $188,000
= $584,000
On January 1, 20X1, Beard Company purchased a machine for $620,000. The machine is expected to have a 10-year life, with no salvage value, and will be depreciated by the straight-line method. On January 1, 20x1, it leased the machine to Child Company for a three-year period at an annual rental of $128,000 to be paid at the end of each year. Beard could have sold the machine for $817,298 instead of leasing it. Child does not know the implicit rate in the lease, but it has an incremental rate of 9%. Child Company has a December 31 reporting year. Use tables (PV of 1, PVAD of 1, and PVOA of 1 (Use the appropriate factor(s) from the tables provided. Round your intermediate calculations and final answers to the nearest whole dollar amount.)
Required:
1. Why is this an operating lease for Child Company?
2. What are the amounts of the right-of-use asset and lease liab that Child Company should report on its balance sheet at December 31, 20X1?
3. How much lease expense should Child Company recognize in 20X1?
Answer:
1. Why is this an operating lease for Child Company?
The life of the asset is 10 years while the lease is only 3 years long, so it cannot be classified as a financial lease.
2. What are the amounts of the right-of-use asset and lease liability that Child Company should report on its balance sheet at December 31, 20X1?
annual lease payment = $128,000 (ordinary annuity)
PVIFA, 9%, 3 periods = 2.5313
present value = $128,000 x 2.5313 = $324,006.40
3. How much lease expense should Child Company recognize in 20X1?
lease expense = PV of lease x interest rate = $324,006.40 x 9% = $29,160.58
A large technology Company decides to create an entrepreneurship friendly space, where small enterprises can operate in close proximity to one another. To create this space, which will be called Zone Forty-Two, the Company will construct office space, which will be rented to tenants for free. The Company is considering two start-up firms, B Enterprises (a business software producer) and M Enterprises (a medical software producer). Both firms are currently located in different small towns of California, where they work out of their homes hence pay no rent. The sales volume for a firm if it locates at Zone Forty-Two depends on whether the other firm is also present. These sales volumes, along with the firms’ sales at their current home locations, are presented in Table 1.
table 1 home- town locations zone forty-two(alone) zone forty-two(with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
Give an intuitive explanation why the sales figures are in the last column of Table 1 differ from the first two columns of the table. Hint: Elaborate on different types of economies that are likely to benefit firms locating next to each other in Zone Forty-Two.
Answer:
Zone-Forty-Two
Types of Economies Benefiting Firms Locating Next to Each Other:
Basically, internal and external economies of scale result from firms locating next to one another. While internal economies of scale are specific to a firm because they are internally generated savings, external economies of scale bring about larger changes outside the firm so that all the firms that are located next to one another benefit.
For example, when firms locate next to each other, there is increased procurement management, availability of specialized managers, availability of financial sources, and market improvement. These are internally-focused economies.
On the other hand, the external benefits that come from agglomeration of firms include the availability of common infrastructure, supply chain, innovation and ideas, and ability to lobby the authorities.
As a result of these economies or benefits, firms b and m enterprises are able to generate more increased sales as they locate close to each other at Zone Forty-Two than they could generate while they were located at their home-towns or alone at Zone Forty-Two.
Explanation:
a) Data and Calculations:
Firms' Sales
Firms Hometown Zone forty-two Zone forty-two
locations (alone) (with other firm)
b enterprises 600 600 670
m enterprises 700 700 950
These economies resulting from proximate locations of firms include the growth of technical, marketing, commercial, financial benefits, and some network effects. Therefore, it is always interesting to study how firms grow more as they compete and learn from one another than they do when they dominate their individual hometown markets.
1.Production runs can be scheduled in
A. only one shift
B. always two shifts
C. one or two shifts
D. up to three shifts
2.Hiring the Needed Complement will always eliminate
A. Overtime
B. worker layoffs
C. a Second Shift
D. strikes
3.Management should strive to
A. increase Turnover
B. decrease Turnover
4.Increasing Capacity tends to
A. reduce the Needed Complement
B. reduce the number of workers on Second Shift
C. reduce Overtime
5.Increasing Training Hours tends to
A. increase the Needed Complement
B. decrease the Needed Complement
C. neither increase nor decrease the Needed Complement
D. both increase and decrease the Needed Complement
6.Recruiting Costs are incurred when
A. Automation levels increase
B. Production runs increase and teams match hiring to Needed Complement
C. workers are assigned to a Second Shift
7.Assuming the Productivity Index is greater than 100%, adding Overtime will
A. increase the Productivity Index
B. decrease the Productivity Index
8.Worker training is entered by the
A. Hour
B. Dollar
9.Teams can eliminate all Recruiting Costs if they wish
A. True
B. False
10.Generally, Separation Costs will be incurred when
A. Production levels increase
B. Automation Levels increase
C. Production Levels decrease
D. Production levels decrease and / or Automation levels increase
Answer:
Explanation:
10)production levels decrease and/or automation levels increase
Bibby Auto Shop uses a normal job-costing system to allocate overhead on the basis of labour hours. For the current year, Bibby estimated that the total overhead costs would be $72,000 and that the total labour hours would be 2,400. At the end of the year, Bibby obtained the actual overhead costs from the ledger and found that the shop had incurred $65,800 and had worked 2,350 labour hours.
Predetermined (budgeted) overhead rate.
Overhead Rate $30
overhead amount that was applied for the year.
Overhead amount $4700 over applied
Prepare the journal entry to close the overhead account. Assume that the underapplied and overapplied overhead was not material. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry Required" for the account titles and enter 0 for the amounts.)
Account Titles and Explanation Debit Credit
Answer and Explanation:
The journal entry is shown below:
Overhead $4,700
Cost of goods sold $4,700
(Being overapplied overhead is closed)
Here the overhead is debited as it increased the expenses and credited the cost of goods sold as it decreased the expense
Owens Corning has total assets of $800,000, long-term debt of $240,000, stockholders' equity of $350,000, and current liabilities of $210,000. The dividend payout ratio is 30 percent and the profit margin is 8 percent. Assume all assets and current liabilities change spontaneously with sales and the firm is currently operating at full capacity. What is the external financing need (EFN) if the current sales of $1,000,000 are projected to increase by 20 percent
Answer:
$50,800
Explanation:
Increase in assets = Current Assets * Percentage change in sales = $800,000 * 20% = $160,000
Increase in current liabilities = Current liabilities * Percentage change in sales = $210,000 * 20% = $42,000
Increase in retaned earning = Increased sales*Profit Margin*Retention ratio = $1,000,000*120%*8%*(1-0.30) = $67,200
External financing need = Increase in Assets - Increase in liabilities - Increase in retained earning
External financing need = $160,000 - $42,000 - $67,200
External financing need = $50,800
1. There are 20 forging presses in the forge shop of a small company. The shop produces batches of forgings requiring a setup time of 3.0 hours for each production batch/machine. Average standard time for each part in a batch is 45 seconds, and there are 600 parts in a batch/machine. The plant workforce consists of two workers per press, two foreman, plus three clerical support staff. (a) Determine how many forged parts can be produced in 1 month, if there are 8 hours worked per day and average of 21 days per month at one shift per day. (b) What is the labor productivity ratio of the forge shop, expressed as parts per worker-hour
Answer:
The solution according to the given scenario is described below.
Explanation:
The given values are:
No. of foreign presses,
= 20
Required setup time,
= 3 hours
Average standard time,
= 45 seconds
Average produced batch,
= 600
Now,
(a)
The number of workers will be:
= [tex]20\times 2+2+3[/tex]
= [tex]40+2+3[/tex]
= [tex]45[/tex]
The total time for batch's production will be:
= [tex]3\times 60+(45\times \frac{600}{60} )[/tex]
= [tex]180+45\times 10[/tex]
= [tex]630 \ minutes[/tex]
or
= [tex]10.5 \ hours[/tex]
The total number of hours per month will be:
= [tex]8\times 21[/tex]
= [tex]168 \ hours[/tex]
then,
The total batches per month will be:
= [tex]\frac{168}{10.5}[/tex]
= [tex]16 \ batches \ per \ month[/tex]
Total batches = [tex]20\times 16[/tex]
= [tex]320[/tex]
Now,
The produced pieces will be:
= [tex]320\times 600[/tex]
= [tex]192000 \ pieces/month[/tex]
(b)
[tex]Labour \ productivity= \frac{ Total \ production}{ Labour \ hours }[/tex]
On substituting the given values, we get
[tex]=\frac{192000}{(8\times 21\times 45)}[/tex]
[tex]=25.4 \ per \ worker \ hours[/tex]
The labor productivity ratio is the ratio analytical tool that determines the efficiency of labor to perform their task and provide higher returns and production in the specified time limit. It is determined by taking into consideration the total number of products and the labor hours provided to each labor per day.
a) The number of forged parts that can be produced in 1 month is 192,000 pieces per month.
b) The labor productivity ratio of the forged shop is 25.40 per labor hour.
Computations:
a)
[tex]\begin{aligned}\text{Number of pieces}&=\text{Total Batch}\times\text{Parts in Batch per Machine}\\&=320\;\text{batches}\times600\;\text{parts}\\&=192,000\;\text{pieces per month}\end{aligned}[/tex]
Working Note:
[tex]\begin{aligned}\text{Number of Workers}&=\left(\text{No. of foreign presses}\times\text{Worker per press}\right)\\&+\text{Worker per press}+\text{Setup Time}\\&=\left(20\times2 \right )+2+3\\&=45\;\text{no. of workers} \end{aligned}[/tex]
[tex]\begin{aligned}\text{Time for batch production}&=\text{Setup Time}\times\text{Average produced batch}\\&+\left(\text{No. of workers}\times\frac{\text{Average produced batch}}{\text{Minutes}} \right )\\&=3\times60+\left(45\times\frac{600}{60}\right)\\&=630\;\text{minutes or}\;10.50\;\text{hours}\end{aligned}[/tex]
[tex]\begin{aligned}\text{Total Batches}&=\text{No. of Foreign Presses}\times\text{Total Batches per month}\\&=20\times\left(\frac{\text{hours per day}\times\text{days per month}}{\text{Total time for batch production}} \right )\\&=20\times\left(\frac{8\times21}{10.50} \right )\\&=320\end{aligned}[/tex]
b) The labor productivity is computed as follows:
[tex]\begin{aligned}\text{Labor Productivity}&=\frac{\text{Total Production}}{\text{Labor hours}}\\&=\frac{192,000}{8\times21\times45}\\&=25.4\;\text{per worker hours}\end{aligned}[/tex]
To know more about labor productivity, refer to the link:
https://brainly.com/question/16016669
A company has fixed costs of $96,800. Its contribution margin ratio is 44% and the product sells for $61 per unit.
What is the company's break-even point in dollar sales?
$220,000
Explanation:
Calculation for the company's break-even point in dollar sales
Using this formula
Break-Even point in dollars sales= Fixed Costs ÷ Contribution Margin
Let plug in the formula
Break-Even point in dollars sales=$96,800/44%
Break-Even point in dollars sales=$220,000
Therefore the company's break-even point in dollar sales will be $220,000.
Halbur Company reported the following for its recent year of operation: From the income statement: Depreciation expense $ 1,200 Loss on sale of equipment 2,800 From the comparative balance sheet: Beginning balance, equipment $ 12,900 Ending balance, equipment 8,200 Beginning balance, accumulated depreciation 2,200 Ending balance, accumulated depreciation 2,700 No new equipment was purchased during the year. What was the selling price of the equipment
Answer:
$300
Explanation:
From Equipment Account we get :
Cost of Equipment Sold = $12,000 - $8,200 = $3,800
From Accumulated Depreciation Account we get :
Accumulated Depreciation = $2,200 + $1,200 - $2,700 = $700
Using Amounts above to prepare a Disposal Account - Equipment we get :
Cash Proceeds = $3,800 - $700 - $2,800 = $300
Conclusion
The selling price of the equipment $300
You bought two acres of land for $200,000 ten years ago. Although it is zoned for commercial use, it currently holds eight small, singlefamily houses. A property management firm that wants to continue leasing the eight houses has offered you $400,000 for the property. A developer wants to build a 12-story apartment building on the site and has offered $600,000. What value should you assign to the property
Answer:
$500,000
Explanation:
in order to calculate the value you should determine the expected return or sales price of the land = price of land x probability of sale
In this case, you have two offers and apparently you haven't decided which to choose, so the expected return = ($400,000 x 50%) + ($600,000 x 50%) = $200,000 + $300,000 = $500,000