Answer: ($13,000)
Explanation:
Closing balance of Equity = Opening Balance + Retained earnings
Retained earnings = Net Income - dividends
Formula above shows that equity changes as a result of Retained earnings which is the net of Net Income and Dividends.
Change in equity will be = Net Income - Dividends
= (100,000 - 89,500) - 24,000
= -$13,500
Equity reduces by $13,500
Using the information below, calculate gross profit for the period. Sales revenues for the period $ 1,254,000 Operating expenses for the period 234,000 Finished Goods Inventory, January 1 35,500 Finished Goods Inventory, December 31 40,500 Cost of goods manufactured for the period 515,000
Answer:
$744,000
Explanation:
The computation of the gross profit is shown below:
But before that determine the cost of goods sold which is
Cost of goods sold is
= Opening finished goods balance + cost of goods manufactured - ending finished goods balance
= $35,500 + $515,000 - $40,500
= $510,000
now the gross profit is
= Sales - cost of goods sold
= $1,254,000 - $510,000
= $744,000
Barclay Enterprises manufactures and sells three distinct styles of bicycles: the Youth model sells for $500 and has a unit contribution margin of $200; the Adult model sells for $930 and has a unit contribution margin of $372; and the Recreational model sells for $1,400 and has a unit contribution margin of $560. The company's sales mix includes: 5 Youth models; 9 Adult models; and 6 Recreational models. If the firm's annual fixed costs total $5,680,000, calculate the firm's break-even point in total sales dollars.
Answer:
$14,200,000
Explanation:
The computation of the firm break even point in total sales dollars is shown below:
Particulars Youth Adult Recreational
Sales mix
ratio 0.25 0.45 0.30
(5:9:6)
Contribution
margin $200 $372 $560
Weighted
average CM 50 167.4 168
Selling price $500 $930 $1,400
Weighted
average sales 125 418.50 420
Weighted average
sales 963.50
Weighted average
CM 385.40
CM ratio 40% (385.40 ÷ 963.50)
Now the break even point in sales dollars is
= Fixed cost ÷ contribution margin ratio
= $5,680,000 ÷ 40%
= $14,200,000
or 2018, Gourmet Kitchen Products reported $22 million of sales and $18 million of operating costs (including depreciation). The company has $15 million of total invested capital. Its after-tax cost of capital is 9% and its federal-plus-state income tax rate was 35%. What was the firm's economic value added (EVA), that is, how much value did management add to stockholders' wealth during 2018
Answer:
Economic value added = $1,250,000
Explanation:
Economic value added (EVA) = Net operating profit after taxes - Invested capital * cost of capital
Economic value added= [($22,000,000 - $18,000,000) * (1 - 0.35)] - [$15,000,000 * 9%]
Economic value added = ($4,000,000 * 0.65) - $1,350,000
Economic value added = $2,600,000 - $1,350,000
Economic value added = $1,250,000
Price elasticity of demand is an important tool for managers in in a selling environment in deciding what to put on sale. Assume you are the District Manager of a grocery chain which sells everything like Ralphs or Albertsons. What will you put on sale in your district during the Valentine's Day week
Answer:
The manager of the grocery chain should put two types of products:
1) products that are staple in Valentine's Day, because they are very likely to be sold in large numers.
2) products that have low price elasticity, or that are relatively inelastic, because these products will be sold in important quantities even if theirprices are moderately increased, bringing more profit to the firm.
Which of the following is a descriptive data mining technique?
1. Linear Programming.
2. Decision Analysis-Utility Theory.
3. SQL.
4. Cluster Analysis.
5. What-If Analysis.
Answer:
Descriptive data mining technique:
4. Cluster Analysis
Explanation:
Cluster Analysis is one of the data mining techniques. It classifies variables into similar groups according to their subjects. It is also a descriptive technique. Descriptive mining produces correlation, cross tabulation, frequency, etc, thereby discovering the regularities in the data, revealing data patterns, and discovering the subgroups of the data.
5. Consider the supply chain involved when a customer orders a book from Amazon. Identify the
push/pull boundary and two process each in the push and pull phases.
Answer:
1. At pull stage Customers request for books. A pull system by Amazon was made through the use of ingram book group. They support booksellers in supply and demand of book buyers
2. The push strategy is made through the development of several warehouses. Procurement of inventory is done and peoples orders are sent out by utilizing pull strategy.
Processes in pull strategy:
1. Shipping
2. Order fulfilment
Processes in push strategy:
1. Stock replenishment
2. Production
Where would period costs be found on the financial statements?A. As operating expenses on the income statement in the period incurred.B. As operating expenses on the income statement for a previous period.C. Under current assets on the balance sheet.D. Under current liabilities on the balance sheet.
Answer:
A. As operating expenses on the income statement in the period incurred
Explanation:
In Variable Costing, Both Fixed Manufacturing Costs and Non - Manufacturing Costs are treated as Period costs. In Absorption Costing, only Non - Manufacturing Costs are treated as Period costs.
Period Costs can be found under operating expenses on the income statement in the period incurred.
Examples include Advertising, Rentals, Selling and Distribution and any Administration costs.
Joe Fixit has an appliance-repair business. He has more business than he can handle and wants to hire another repair person. Joe estimates that three appliances can be repaired each hour by a qualified person. Joe bills out labor at $45 per hour, but he stipulates that the minimum charge for appliance-repair estimates is $30 plus parts. What is the marginal revenue product of a qualified repair person
Answer:
The marignal revenue that another worker would bring to Joe under these circumstances is $90.
If joe hires a new worker, the worker can repair 3 appliances per hour, and the mininum charge for appliance-repair is $30 plus parts. The marignal revenue is:
$30 x 3 appliances = $90
Because wages are equal to the marginal product of labor, the maximum amount that Joe would pay to a new person is $90.
Complete the statement with the correct word.
______ is the time noncustodial parents spend with their children.
Answer:
parenting time or visitation
Explanation:
Answer:
visitation is the correct answer
Explanation:
plato
Peta Corporation and its subsidiary reported consolidated net income of $320,000 for the year ended December 31, 20X8. Peta owns 80 percent of the common shares of its subsidiary, acquired at book value. Noncontrolling interest was assigned income of $30,000 in the consolidated income statement for 20X8. What is the amount of separate operating income reported by Peta for the year
Answer: $170,000
Explanation:
Based on the information provided in the question, the amount of separate operating income that will be reported by Peta for the year goes thus:
The total income of subsidiary is calculated as:
= [30000/(100 - 80)] × 100
= (30000/20) × 100
= 1500 × 100
= 150000
Therefore, the operating income of Peta will be:
= Consolidated income - the total Subsidiary income
= $320000 - $150000
= $170000
se the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 8,600 Cost of goods sold 7,290 Depreciation 400 Earnings before interest and taxes $ 910 Interest paid 80 Taxable income $ 830 Taxes 291 Net income $ 539 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 140 $ 175 Accounts payable $ 1,150 $ 1,205 Accounts rec. 900 700 Long-term debt 990 1,255 Inventory 1,500 1,535 Common stock 3,190 2,890 Total $ 2,540 $ 2,410 Retained earnings 450 700 Net fixed assets 3,240 3,640 Total assets $ 5,780 $ 6,050 Total liab. & equity $ 5,780 $ 6,050 What is the return on equity for 2017? Multiple Choice 17.73% 18.65% 25.35% 15.01% 31.49% Next Visit question mapQuestion 1 of 16 Total1 of 16 Prev
Answer:
15.01%
Explanation:
The computation of the return on equity for the year 2017 is shown below:
Return on Equity is
= Net Income ÷ Total Equity
where,
net income is $539 million
And, the total equity is
= Common stock + retained earnings
= $2,890 + $700
= $3,590 million
So, the return on equity is
= $539 million ÷ $3,590 million
= 15.01%
Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1: Material $5 Labor 3 Overhead 2 $10 Beginning inventory at these costs on July 1 was 11,500 units. From July 1 to December 1, Convex produced 26,000 units. These units had a material cost of $7 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting. a. Assuming that Convex sold 28,000 units during the last six months of the year at $14 each, what would gross profit be?
Answer:
Gross profit= $79,000
Explanation:
Giving the following information:
July 1, 20X1:
Material $5
Labor 3
Overhead 2
Total= $10
Beginning inventory at these costs on July 1 was 11,500 units.
From July 1 to December 1, Convex produced 26,000 units.
These units had a material cost of $7 per unit.
First, we need to determine the cost of goods sold. Under the FIFO (first-in, first-out) method, the COGS is calculated using the cost of the first units produces.
COGS= 11,500*10 + 16,500*12= $313,000
Now, we can calculate the gross profit:
Gross profit= sales - cogs
Gross profit= 28,000*14 - 313,000
Gross profit= $79,000
Hoover Inc. has current assets of $350,000 and fixed plant assets of $650,000. Current liabilities are $100,000 and long-term liabilities are $250,000. There is $120,000 in preferred stock outstanding and the firm has issued 10,000 shares of common stock. Compute book value (net worth) per share $53.00. $75.00. $65.00. $84.00.
Answer:
$53.00
Explanation:
The computation of book value is shown below:-
But before that we need to determine the net asset which is
Net asset = Total asset - Total liabiliites
= ($350,000 + $650,000) - ($100,000 - $250,000)
= $1,000,000 - $350,000
= $650,000
Now
Value per share= (Net asset - preference share) ÷ number of common stocks
= ($650,000 - $120,000 ) ÷ 10,000 shares
= $530,000 ÷ 10,000
= $53 per share
The following transactions occurred during July: Received $970 cash for services provided to a customer during July. Received $3,400 cash investment from Bob Johnson, the owner of the business. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. Provided services to a customer on credit, $445. Borrowed $6,700 from the bank by signing a promissory note. Received $1,320 cash from a customer for services to be performed next year. What was the amount of revenue for July
Answer: $1,415
Explanation:
Going by the Accrual principle in Accounting, the revenue to be recognized has to be for services rendered in the period of interest regardless of it is in cash or on account.
The revenue transactions for the month of July therefore will be for only services rendered in July.
Those include;
Received $970 cash for services provided to a customer during July.Provided services to a customer on credit, $445The rest were either equity, liability or revenue for a period other than July.
Revenue for July is therefore;
= 970 + 445
= $1,415
What is a example of good customer service?
Answer:
Jet blue= thanks frequent customers with small gesturer
Tesla= meet your customers where they r at
Homeowners insurance gives you both property and liability protection.
Answer:
True
Explanation:
If you have drunk friends you want this insurance.
True. Homeowners insurance provides both property and liability protection.
What is property protection?The property protection aspect of homeowners insurance covers the physical structure of the home, as well as personal belongings within the home, against perils such as fire, theft, and vandalism.
It may also provide coverage for additional structures on the property, such as garages or sheds. Liability protection, on the other hand, safeguards homeowners from legal and financial responsibility if someone is injured on their property or if they accidentally cause damage to someone else's property.
This coverage typically includes legal expenses and medical payments to the injured party.
The answer is true.
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four problems associated with money
Answer:
Hmm.
Explanation:
Problems making ends meet
Accumulating too much debt.
Making poor purchasing and investing decisions.
Being unable to enjoy money.
(Source; USATODAY.com)
What benefits does target receive from its store brand?
Imagine you’re an angel investor looking to invest in young companies. What questions would you ask the management team at Project Repat before making a final decision about investing in it?
The percent change in multifactor productivity if Fok can reduce the energy bill by $1,000 per day without cutting production or changing any other inputs
Answer:
The answer is "2.45%".
Explanation:
The answer of option c:
Reduce power by 950 dollars:
In this question it will need to once again take the latest energy cost for analytical hierarchical productivity.
→ Total Input [tex]= 400 \times 12+21000 \times 1 +(5000-950)+10000[/tex]
[tex]= 4800 +21000 + (4050)+10000 \\\\ = 25800+4050+10000 \\\\ = 39850\\[/tex]
Consumer rates [tex]= \frac{1,000}{39,850}[/tex]
[tex]=0.0250[/tex]
Initial efficiency multi-factor= 0.0245
[tex]\to \text{percentage changes} = \frac{\text{New Multi Factor Productivity - Previous Multi-Factor Productivity}}{\text{Originbal Multi-Factor Productivity}}[/tex]
[tex]= \frac{(0.02450.0251)}{0.0245}\\\\ = 2.45 \ \ \%[/tex]
9.20% is the percent change in multifactor productivity if Fok can reduce the electricity bill by $1,000 per day without cut down production or changing any other inputs.
Computation of percentage change:According to the question,
Reduce power by $950,
For analytical hierarchical productivity, we need to calculate the latest energy.
Total New Input(TNI):
Summation of all the inputs:
[tex]\text{TNI}= 400\times12+\$21,000\times1+(\$5,000-950)+\$10,000\\\\\text{TNI}=\$4,800+\$21,000+\$4,050+\$10.000.\\\\\text{TNI}=\$25,800+\$4,050+\$10,000.\\\\\text{TNI}=\$39,850.[/tex]
[tex]\text{Consumer Rates}=\dfrac{\text{Energy bill per day}}{\text{TNI} }.\\\\\text{Consumer Rates}=\dfrac{1,000}{39,850}.\\\\\text{Consumer Rates}=0.0250.[/tex]
Initial efficiency factor: 0.0245 (as per question)
[tex]\text{Percentage changes}=\dfrac{\text{New multifactor productivity-Previous multifactor productivity}}{\text{Original multifactor productivity}}\\\\\text{Percentage changes}=\dfrac{0.2450-0.0194}{2.45}.\\\\\text{Percentage changes}=9.20\%.[/tex]
Hence, 9.20% is the percent change.
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Project A is opening a bakery at 10 Center Street. Project B is opening a specialty coffee shop at the same address. Both projects have unconventional cash flows, that is, both projects have positive and negative cash flows that occur following the initial investment. When trying to decide which project to accept, given sufficient funding to accept either project, you should rely most heavily on the _____ method of analysis.
Answer:
The correct approach will be "NPV (Net present value)".
Explanation:
NPV concessions as well as reduce all potential investment returns from the campaign.
⇒ NPV = Present value of cash inflows - Present value of cash outflows
While using the NPV methodology with the appropriate project cost, we can determine is not whether the project is reasonable. Unless the Net present value is positive, the venture can not be dismissed and rejected whether it is poor or negative.
Winn Co. enters into a 6-year finance lease for a copy machine with an interest rate of 8% (the present value of its $1,298 annual lease payments is $6,000). Winn will record the first-period lease payment with a debit to Right-of-Use Asset in the amount of?
Answer:
1298
Explanation:
Reason: Right-of-Use Asset is debited for the present value of the annual lease payment which is $1,298
Major Manuscripts, Inc., is currently operating at 70 percent of capacity. All costs and net working capital vary directly with sales. The tax rate, the profit margin, and the dividend payout ratio will remain constant. How much additional debt is required if no new equity is raised and sales are projected to increase by 10 percent
The attached data is required to answer the question
Answer:
$535
Explanation:
In this scenario we need to calculate the additional debt required by Major Manuscript
We expect an increase of 10% of sales
Therefore
Total assets projected = 9,420 * 1.10 = $10,362
Accounts payable projected = 2,200 * 1.10 = $2,420
Current long term debt = $260
Current common stock = $2,400
Retained earnings projected = 4,560 +{(360 - 190) * 1.10} = $4,747
Additional debt required = 10,362 - 2,420 - 260 - 2,400 - 4,747
Additional debt required = $535
A firm has a P/E ratio of 12 and a ROE of 13% and a market to book value of what?
Answer:
1.56
Explanation:
Calculation for the market-to-book value
First step is to calculate for the P/E ratio
P/E ratio=1/12
P/E ratio= 0.0833
Now let find the market-to-book value using this formula
Market-to-book value = ROE percentage/P/E ratio
Let plug in the formula
Market-to-book value=0.13/0.0833
Market-to-book value= 1.56
Therefore the Market-to-book value will be 1.56
The market to book value is 1.56.
The calculation is as follows:
ROE = Net income ÷ Book Value of shareholders equity
P/E = (Price per share ) ÷ (EPS per share)
or P/E = Market Capitalization ÷ Net Income
So,
12 = Price ÷ Net Income
Price = 12 Net Income-------------Equation 1
Now
0.13 = Net Income ÷ Book Value of shareholders equity
Book Value = Net Income ÷ 0.13----------------Equation 2
Now
Market/ Book Value = 12 Net Income ÷ Net Income/0.13
= 12 × 0.13
= 1.56
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Balance Sheet Current assets Cash 910,000 Acc receivable not given Inventories 1,050,000 Fixed assets 3,710,000 TOTAL ASSETS 7,000,000 Current liabilities Acc payable not given Long-term debt 3,500,000 Common stock 560,000 Retained earnings 2,470,000 TOTAL LIAB and EQUITY 7,000,000 Income Statement Sales 14,000,000 Operating expense 11,200,000 EBIT 2,800,000 Interest expense 490,000 EBT 2,310,000 Taxes 924,000 Net income 1,386,000 What is the firm's quick ratio?
Answer:
4.77
Explanation:
The formula below is used to calculate quick ratio
Current assets - Inventories / Current liabilities
Account receivables =$1,330,000
Current assets = $3,290,000
Inventories = $1,050,000
Account payable = $470,000
Current liabilities = $470,000
Therefore,
Quick ratio = ($3,290,000 - $1,050,000) / $470,000
= 4.77
The process of developing a pool of qualified job applicants is called job analysis TURE OR FALSE
Answer:
F
Explanation:
1 Select the correct answer. If a news article contains bias, what should you do.PLS WILL MARK BRAINEIST
A.take it as a fact
B.READ ANOTHER ARTICLE ON THE SAME TOPIC
C.THROW THE ARTICLE AWAY
D.AUTOMATICALLY AGREE WITH THE REPORTER.
Answer:
I'm pretty sure the answer is B.
Explanation:
Answer:
here u can mark the other guy brainliest now. You have to have 2 answers on the question to mark brainliest
Explanation:
Strength and weakness of each open/flexible business organization forms
Answer:
The overview of the discussion is mentioned throughout the clarification segment elsewhere here.
Explanation:
There have been lesser supervisors because they can improve the efficiency and effectiveness of service, which tends to increase business income. It has a broader spectrum of influence, making it more difficult to track and handle employees. It has a vague direction to pursue, and workers have uncertain responsibilities that find it difficult to attract staff.Employees would have a much wider workplace satisfaction thanks to their educational and welcoming atmosphere.
If your an executive chef of a supermarket, who might report to you? Who might you report to?
Answer:
Executive chefs will report to the head restaurateur. Sous chefs and line cooks report to executive chefs.
Angel Corporation reported pretax book income of $1,006,000. During the current year, the net reserve for warranties increased by $25,900. In addition, tax depreciation exceeded book depreciation by $101,500. Finally, Angel subtracted a dividends received deduction of $26,200 in computing its current year taxable income. Angel's hypothetical tax expense in its reconciliation of its income tax expense is:
Answer:
$211,260
Explanation:
Calculation for Angel's hypothetical tax expense in its reconciliation of its income tax expense
Using this formula
Angel's hypothetical tax expense=Pretax book income × Tax rate
Let plug in the formula
Angel's hypothetical tax expense=$1,006,000×21%
Angel's hypothetical tax expense=$211,260
Therefore Angel's hypothetical tax expense in its reconciliation of its income tax expense will be $211,260