Answer:
c
explanation:
Answer:
it would be C) health insurance.
Below are the transactions for Ute Sewing Shop for March, the first month of operations.
March 1 Issue common stock in exchange for cash of $1,400.
March 3 Purchase sewing equipment by signing a note with the local bank, $1,100.
March 5 Pay rent of $440 for March.
March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $640. Martha is not required to pay for the alterations until the work is complete.
March 12 Purchase sewing supplies for $114 on account. This material will be used to provide services to customers.
March 15 Ute delivers altered dresses to Martha and receives $640.
March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $540 from Bob and promises the suits to be completed by March 25.
March 25 Ute delivers 10 altered business suits to Bob.
March 30 Pay utilities of $79 for the current period.
March 31 Pay dividends of $70 to stockholders.
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at March 31.
4. Prepare a trial balance as of March 31.
Ute uses the following accounts:
Cash, Supplies, Equipment, Accounts Payable, Deferred Revenue, Notes Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense.
Answer:
Part 1
March 1
Debit : Cash $1,400
Credit : Common Stock $1,400
March 3
Debit : Equipment $1,100
Credit : Note Payable $1,100
March 5
Debit : Rent Expense $440
Credit : Cash $440
March 7
No Entry
March 12
Debit : Supplies $114
Credit : Accounts Payable $114
March 15
Debit : Cash $640
Credit : Service Revenue $640
March 19
Debit : Cash $540
Credit : Deferred Revenue $540
March 25
Debit : Deferred Revenue $540
Credit : Service Revenue $540
March 30
Debit : Utilities Expense $79
Credit : Cash $79
March 31
Debit : Dividends $70
Credit : Cash $70
Part 2 and Part 3
Cash : Debit = $1,400 + $640 + $540 Credit = $440 + $79 + $70, Balance = 1,991 Debit
Common Stock : Debit = Credit = $1,400 , Balance = 1,400 Credit
Equipment : Debit = $1,100 Credit = , Balance = 1,110 Debit
Note Payable : Debit = Credit = $1,100 , Balance = 1,100 Credit
Rent Expense : Debit = $440 Credit = , Balance = $440 Debit
Supplies : Debit = $114 Credit = , Balance = $144 Debit
Accounts Payable : Debit = Credit = $114 , Balance = $114 Credit
Service Revenue : Debit = Credit = $640 + $540 , Balance = $1,180 Credit
Deferred Revenue : Debit = $540 Credit = $540 , Balance = $ 0
Utilities Expense : Debit = $79 Credit = , Balance = $79 Debit
Dividends : Debit = $70 Credit = , Balance = $70 Debit
Part 4
Sewing Shop
Trial balance as at March 31
Debit Credit
Cash $ 1,991
Common Stock $1,400
Equipment $1,110
Note Payable $1,100
Rent Expense $440
Supplies $144
Accounts Payable $114
Service Revenue $1,180
Deferred Revenue $ 0 $0
Utilities Expense $79
Dividends $70
Totals $3,864 $3,864
Explanation:
To successfully tackle the question, follow the steps :
Record journal entriesPost the Journals to Ledger Accounts Find the Ledger Account BalancesPrepare a Trial BalanceThe Trial Balance is used to check mathematical accuracy. It is a list of Debit and Credit extracted from Balances from the Ledger Accounts.
Cypress Oil Company's December 31, 2021, balance sheet listed $855,000 of notes receivable and $22,500 of interest receivable included in current assets. The following notes make up the notes receivable balance: Note 1 Dated 8/31/2021, principal of $400,000 and interest at 12% due on 2/28/2022. Note 2 Dated 6/30/2021, principal of $260,000 and interest due 3/31/2022. Note 3 $200,000 face value noninterest-bearing note dated 9/30/2021, due 3/31/2022. Note was issued in exchange for merchandise.
The company records adjusting entries only at year-end. There were no other notes receivable outstanding during 2021.
Required:
1. Determine the rate used to discount the noninterest-bearing note.
2. Determine the explicit interest rate on Note 2. (Round your intermediate calculations to the nearest whole dollar amount.)
3. What is the amount of interest revenue that appears in the company’s 2021 income statement related to these notes?
Discount rate
Interest rate
Interest revenue
Answer:
1. Determine the rate used to discount the noninterest-bearing note.
face value of the notes receivable = $400,000 + $260,000 + $200,000 = $860,000
carrying value = $855,000
difference = $860,000 - $855,000 = $5,000
6 month note, so total interest = $10,000
yearly interest = $10,000 x 2 = $20,000
interest rate = $20,000 / $200,000 = 10%
2. Determine the explicit interest rate on Note 2. (Round your intermediate calculations to the nearest whole dollar amount.)
total accrued interest = $22,500
interest on note 1 = $16,000
interest on note 2 = $6,500 (six months worth of interest)
total yearly interest = $13,000
interest rate = $13,000 / $260,000 = 5%
3. What is the amount of interest revenue that appears in the company’s 2021 income statement related to these notes?
total interest = $22,500 + $5,000 = $27,500
Kally goes to the grocery store each week looking to purchase items that will give her as much utility as possible, given her $100 budget. Last week apples were priced at $4.50 each, and Kally purchased 3 apples. This week apples are on sale for $2.50 each, while all other prices have remained the same, and Kally chooses to purchase 7 apples. Given this information, plot Kally's demand curve for apples.
Answer:
Please check the attached image for kally's demand curve
Explanation:
The demand curve is a curve that shows the various quantities of a good that is purchased at different prices.
The demand curve is downward sloping due to the inverse relationship between price and quantity demanded. The higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded. This is known as the law of demand.
It can be seen that the quantity demanded of apples increased from 3 to 7 when price reduced to $2.50
On the demand curve, price is on the vertical axis, while quantity demanded is on the horizontal axis
Answer:
Please check the attached image for kally's demand curve
Explanation:
1 - Describe two justifications for the need for professional financial planning advice
2- Summarize the main fees a mutual fund investor will pa
3 - Your client is asking how much life insurance she needs. She expects to earn $120,000 per year on average, working for the next 30 years.
a. Suppose an appropriate earnings multiple is 18. How much life insurance should she purchase? (2 points)
b. Using a discount rate of 4%, what is her insurance need using the human value approach? (3 points)
Answer:
Financial planning is a step-by-step approach to meet one's life goals. A financial plan acts as a guide as you go through life's journey. Essentially, it helps you be in control of your income, expenses and investments such that you can manage your money and achieve your goals.
Explanation:
Celestin Manufacturing Company incurred $22,000 of depreciation on its manufacturing equipment during its first year of operation. During this year the company made 11,000 units of product and sold 3,700 units of product. Based on this information alone the company would show Multiple Choice $22,000 of depreciation expense on its income statement. $7,400 of cost of goods sold expense on its income statement. $22,000 of inventory on its balance sheet. $7,400 of inventory on its balance sheet.
Answer:
$7400 of cost of goods sold expense on its income statement.
Explanation:
Calculation to determine the cost of goods sold
Cost of goods sold expense=($22000 / 11000 units)x 3,700 units sold
Cost of goods sold expense= $2 per unit x 3,700 units sold
Cost of goods sold expense=$7400
Therefore Based on this information alone the company would show: $7400 of cost of goods sold expense on its income statement.
The relationship between the type of diversification and overall firm performance Multiple Choice takes on the shape of an inverted U so related diversification has the best performance. is negative, meaning that more diversification always leads to lower firm performance. there is no relationship between the type of diversification and overall firm performance. takes on the shape of a U where modest diversification has the worst performance. is positive, meaning that more diversification always leads to higher firm performance.
Answer:
takes on the shape of an inverted U so related diversification has the best performance.
Explanation:
A portfolio variance is used to determine the overall risk or dispersion of returns of a portfolio and it is the square of the standard deviation associated with the particular portfolio.
The portfolio variance is given by the equation;
[tex]Variance = w^{2}_{1} d^{2}_{1} + w^{2}_{2} d^{2}_{2}+2w_{1}w_{2}C_{OV_{1, 2}}[/tex]
Where;
[tex]w_{n}[/tex] = the weight of the nth security.
[tex]d^{2}_{n}[/tex] = the variance of the nth security.
[tex]C_{OV_{1, 2}}[/tex] = the covariance of the two security.
The relationship between the type of diversification and overall firm performance takes on the shape of an inverted U, so related diversification has the best performance.
Which of the following social media influencing tactics can be described as getting someone to do or buy something because others are also doing it?
A.
Aspirational buying
B.
Bandwagon appeal
C.
Flattery
D.
Juxtaposition
Answer:
B. bandwagon appeal
Explanation:
A company's income statement showed the following: net income, $130,000; depreciation expense, $38,000; and gain on sale of plant assets, $12,000. An examination of the company's current assets and current liabilities showed the following changes accounts receivable decreased $11,000; merchandise inventory increased $26,000; prepaid expenses increased $7,800; accounts payable increased $5,000. Calculate the net cash provided or used by operating activities.
Answer:
$138,200
Explanation:
Calculation the net cash provided or used by operating activities.
Net income $130,000
Depreciation $38,000
Gain on sale long-term asset ($12,000)
Account Receivable decreased $11,000
Inventory Increased ($26,000)
Prepaid Expenses Increased ($7,800)
Account Payable Increased $5,000
Net cash provided by operating activities $138,200
Therefore net cash provided or used by operating activities is $138,200
Uva Systems Inc. has a limited amount of direct material available for products 1A1 and 2B2. Each unit of 1A1 has a contribution margin of $12 and each unit of 2B2 has a contribution margin of $30. A unit of 2B2 uses three times as much direct material as a unit of 1A1. What is Uva's most profitable sales mix, assuming there is unlimited demand for either product
Answer:
Make All 1A1
Explanation:
Calculation to determine What is Uva's most profitable sales mix, assuming there is unlimited demand for either product
First step is to calculate the Contribution margin of 1 unit of 2B2
Contribution margin of 1 unit of 2B2 = 1 x $30
Contribution margin of 1 unit of 2B2 = $30
Second step is to calculate the Contribution margin of 3 units of 1A1
Contribution margin of 3 units of 1A1 = 3 x $12
Contribution margin of 3 units of 1A1 = $36
Based on the above calculation for both Contribution margin of 1 unit of 2B2 and Contribution margin of 3 units of 1A1 we can see that Contribution margin of 3 units of 1A1 is the most profitable sales mix.
Therefore Uva's most profitable sales mix, assuming there is unlimited demand for either product is Make All 1A1
Let X be the damage incurred (in $) in a certain type of accident during a given year. Possible X values are 0, 1,000, 5,000, and 10,000, with probabilities 0.84, 0.09, 0.05, and 0.02, respectively. A particular company offers a $500 deductible policy. If the company wishes its expected profit to be $100, what premium amount should it charge (in dollars)
Answer:
$560
Explanation:
Calculation for what premium amount should it charge
Using this formula to calculate the premium amount
E(Y)=yxP(y)
Let X variable represent the damage that occured because of accident in the year provided
Based on the information given since the amount deductible is $500 while the expected premium charge is $100 then let defined the premium function as,
For X=0
Hence,
Y=X+$100
For X=1,000, 5,000, and 10,000
Y=X-$500+$100
Y=$400
Let the table below represents probability distribution of y
X= 0, 1,000, 5,000, 10,000
Y= 100 600 4,600 9,600
P(y)=0.84, 0.09, 0.05, 0.02,
(1000-400=600)
(5000-400=4,600)
(10,000-400=9,600)
Now let calculate the PREMIUM AMOUNT to be charge Using this formula
E(Y)=yxP(y)
Let plug in the formula
E(Y)=(100 × 0.84)+( 600 × 0.09) + (4,600 × 0.05) +( 9,600 × 0.02)
E(Y)=84+54+230+192
E(Y)=$560
Therefore the premium amount that it should it charge (in dollars) is $560
Recession, inflation, and high interest rates are economic events that are best characterized as being Group of answer choices irrelevant except to governmental authorities like the Federal Reserve. risks that are beyond the control of investors and thus should not be considered by security analysts or portfolio managers. among the factors that are responsible for market risk. company-specific risk factors that can be diversified away. systematic risk factors that can be diversified away.
Answer:
among the factors that are responsible for market risk.
Explanation:
Systemic risk are risk that are inherent in the economy. They cannot be diversified away. They are also known as market risk. examples of this risk include recession, inflation, and high interest rates. Investors should seek compensation for systemic risk. Systemic risk is measured by beta. The higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors
Non systemic risk are risks that can be diversified away. they are also called company specific risk. Examples of this type of risk is a manager engaging in fraudulent activities.
Creating a Business Plan: Why is the section on key personnel so important?
Answer:
D- Investors invest in people even more than ideas.
Explanation:
Took the quiZ
in the united states ,dollar bills, , and dimes are representative money
Answer:
In the United States, dollar bills, nickels, and dimes are Representative money It can be exchanged for a valuable good, was used in systems involved a "gold standard", and can be traded for a commodity such as silver.
Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost
On April 1, Sangvikar Company had the following balances in its inventory accounts:
Materials Inventory $12,750
Work-in-Process Inventory 21,060
Finished Goods Inventory 8,500
Work-in-process inventory is made up of three jobs with the following costs:
Job 114 Job 115 Job 116
Direct materials $2,384 $2,603 $3,085
Direct labor 1,800 1,420 4,420
Applied overhead 1,260 994 3,094
During April, Sangvikar experienced the transactions listed below.
Materials purchased on account, $28,920.
Materials requisitioned: Job 114, $16,800; Job 115, $12,460; and Job 116, $5,410.
Job tickets were collected and summarized: Job 114, 170 hours at $11 per hour; Job 115, 200 hours at $14 per hour; and Job 116, 100 hours at $19 per hour.
Overhead is applied on the basis of direct labor cost.
Actual overhead was $4,535.
Job 115 was completed and transferred to the finished goods warehouse.
Job 115 was shipped, and the customer was billed for 125 percent of the cost.
Required:
1. Calculate the predetermined overhead rate based on direct labor cost.
% of direct labor cost
2. Calculate the ending balance for each job as of April 30. When required, round your answers to the nearest dollar. Use your rounded answers in subsequent computations, if necessary.
Ending Balance
Job 114 $
Job 115 $
Job 116 $
3. Calculate the ending balance of Work in Process as of April 30. When required, round your answer to the nearest dollar.
$
4. Calculate the cost of goods sold for April. When required, round your answer to the nearest dollar.
$
5. Assuming that Sangvikar prices its jobs at cost plus -25 percent, calculate the price of the one job that was sold during April. Round to the nearest dollar.
$
Answer:
See below
Explanation:
1. Predetermined overhead rates
= Applied overhead / Direct labor
Job 114
Applied overhead / direct labor
= $1,260/1,800
= 70%
Job 115
Applied overhead / direct labor
= $994/1,420
= 70%
Job 116
Applied overhead / direct labor
= $3,094/4,420
= 70%
2 and 3 Ending balance of each job and work in process as of April 30th.
Job 114. Job116
Opening. $2,384. $3,085
Materials
Purchases $16,800. $5,410
Direct labor
($1,800+$1,800) $3,600. $5,740
Actual $2,520 $4,018
Overhead
at 59.36%
Balance $25,304. $18,253
• Note
The whole of job 115 has been sold out.
• Actual overhead = Actual overhead / direct labor
= $4,535/7,640
= 59.36%
4 Cost of goods sold in April
Job 115
Opening materials. $2,603
Purchases. $12,460
Direct labor
($1,420 + $3,080). $4,500
Actual overhead. $3,150
at 59.36%
Cost of goods sold $22,713
5. Selling price of job
Cost of job 115 = $22,713
Selling price = 1.25% × $22,713 = $28,391
A homeowner in a sunny climate has the opportunity to install a solar water heater in his home for a cost of $3,979. After installation the solar water heater will produce a small amount of hot water every day, forever, and will require no maintenance. How much must the homeowner save on water heating costs every year if this is to be a sound investment
Answer:
$198.95
Explanation:
Calculation for How much must the homeowner save on water heating costs every year if this is to be a sound investment
Using this formula
Saving =Cost *Interest rate
Let plug in the formula
Savings=3,979*5%
Savings=$198.95
Therefore How much must the homeowner save on water heating costs every year if this is to be a sound investment is $198.95
why do you think the government should regulate advertising
Answer:
Advertising control prevents businesses from presenting false information, placing billboards in illegal locations and other prohibited actions. If a business does not follow the advertising regulations set by the government, it could face a civil suit.
An all-equity firm is considering the following projects:
Project Beta IRR
W .67 9.5 %
X .74 10.6
Y 1.37 14.1
Z 1.48 17.1
The T-bill rate is 5.1 percent, and the expected return on the market is 12.1 percent.
a. Compared with the firm's 12.1 percent cost of capital, Project W has a lower expected return, Project X has a lower expected return, Project Y has a higher expected return, and Project Z has a higher expected return.
b. Project W should be rejected , Project X should be accepted , Project Y should be rejected , and Project Z should be accepted .
Answer:
Projects W and X have lower expected returns
Projects Y and Z have higher expected returns
Explanation:
Given
[tex]\begin{array}{ccc}{Project} & {Beta} & {IRR} & {W} & {.67} & {9.5\%} & {X} & {.74} & {10.6\%} & {Y} & {1.37} & {14.1\%}& {Z} & {1.48} & {17.1\%} \ \end{array}[/tex]
[tex]T\ Bill\ Rate = 5.1\%[/tex]
[tex]Expected\ Return = 12.1\%[/tex]
Solving (a): Compare the expected return of each project to 12.1%
Expected Return of each project is calculated as:
[tex]Project = T\ Bill + (Beta * (Expected\ Return - T\ Bill))[/tex]
[tex]Project = 5.1\% + (Beta * (12.1\% - 5.1\%))[/tex]
[tex]Project = 5.1\% + (Beta * 7.0\%)[/tex]
For Project W:
[tex]W= 5.1\% + (0.67* 7.0\%)[/tex]
[tex]W= 5.1\% + 4.69\%[/tex]
[tex]W= 9.79\%[/tex]
Lower Expected return
For Project X:
[tex]X = 5.1\% + (0.74 * 7.0\%)[/tex]
[tex]X = 5.1\% + 5.18\%[/tex]
[tex]X = 10.28\%[/tex]
Lower Expected return
For Project Y:
[tex]Y = 5.1\% + (1.37 * 7.0\%)[/tex]
[tex]Y = 5.1\% + 9.59\%[/tex]
[tex]Y = 14.69\%[/tex]
Higher Expected return
For Project Z:
[tex]Z = 5.1\% + (1.48 * 7.0\%)[/tex]
[tex]Z = 5.1\% + 10.36\%[/tex]
[tex]Z = 15.46\%[/tex]
Higher Expected return
There is no question in (b)
Waterway Resort opened for business on June 1 with eight air-conditioned units. Its trial balance on August 31 is as follows. WATERWAY RESORT TRIAL BALANCE AUGUST 31, 2020 Debit Credit Cash $25,300 Prepaid Insurance 10,200 Supplies 8,300 Land 28,000 Buildings 128,000 Equipment 24,000 Accounts Payable $10,200 Unearned Rent Revenue 10,300 Mortgage Payable 68,000 Common Stock 104,700 Retained Earnings 9,000 Dividends 5,000 Rent Revenue 84,200 Salaries and Wages Expense 44,800 Utilities Expenses 9,200 Maintenance and Repairs Expense 3,600 $286,400 $286,400 Other data: 1. The balance in prepaid insurance is a one-year premium paid on June 1, 2020. 2. An inventory count on August 31 shows $445 of supplies on hand. 3. Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost. 4. Unearned Rent Revenue of $4,172 was earned prior to August 31. 5. Salaries of $365 were unpaid at August 31. 6. Rentals of $843 were due from tenants at August 31. (Use Accounts Receivable account.) 7. The mortgage interest rate is 8% per year.
Question Completion:
Journalize the adjusting entries for the three months of 2020.
Answer:
Waterway Resort
Adjusting Journal Entries:
No. Date Account Titles and Explanation Debit Credit
1. Aug. 31 Insurance Expense $2,550
Prepaid Insurance $2,550
To record insurance expense for the three months' period.
2. Aug. 31 Supplies Expense $7,855
Supplies $7,855
To record supplies expense for the three months' period.
3. Aug. 31 Depreciation Expense - Building $1,280
Accumulated Depreciation - Building $1,280
To record depreciation expense for the three months' period.
3. Aug. 31 Depreciation Expense-Equipment $540
Accumulated Depreciation - Equipment $540
To record depreciation expense for the three months' period.
4. Aug. 31 Unearned Rent Revenue $4,172
Rent Revenue $4,172
To record rent revenue earned.
5. Aug. 31 Salaries Expense $365
Salaries Payable $365
To record accrued salaries expense.
6. Aug. 31 Accounts Receivable $843
Rent Revenue $843
To record accounts receivable due.
7. Aug. 31 Interest Expense $1,360
Interest Payable $1,360
To record mortgage interest expense.
Explanation:
a) Data and Calculations:
WATERWAY RESORT TRIAL BALANCE AUGUST 31, 2020
Debit Credit
Cash $25,300
Prepaid Insurance 10,200
Supplies 8,300
Land 28,000
Buildings 128,000
Equipment 24,000
Accounts Payable $10,200
Unearned Rent Revenue 10,300
Mortgage Payable 68,000
Common Stock 104,700
Retained Earnings 9,000
Dividends 5,000
Rent Revenue 84,200
Salaries and Wages Expense 44,800
Utilities Expenses 9,200
Maintenance and Repairs Expense 3,600
Totals $286,400 $286,400
b) Adjusting transactions:
1. Insurance Expense $2,550 Prepaid Insurance $2,550 ($10,200 * 3/12)
2. Supplies Expense $7,855 Supplies $7,855 ($8,300 - $445)
3. Depreciation Expense - Building $1,280 Accumulated Depreciation - Building $1,280 ($128,000 * 4% * 3/12)
3. Depreciation Expense - Equipment $540 Accumulated Depreciation - Equipment $540 ($24,000 -$2,400 * 10% * 3/12)
4. Unearned Rent Revenue $4,172 Rent Revenue $4,172
5. Salaries Expense $365 Salaries Payable $365
6. Accounts Receivable $843 Rent Revenue $843
7. Interest Expense $1,360 Interest Payable $1,360 ($68,000 * 8% * 3/12)
what is job description
A job description or JD is a written narrative that describes the general tasks, or other related duties, and responsibilities of a position. It may specify the functionary to whom the position reports, specifications such as the qualifications or skills needed by the person in the job, information about the equipment, tools and work aids used, working conditions, physical demands, and a salary range. Job descriptions are usually narrative,[1] but some may comprise a simple list of competencies; for instance, strategic human resource planning methodologies may be used to develop a competency architecture for an organization, from which job descriptions are built as a shortlist of competencies.[2][not specific enough to verify]
According to Torrington, a job description is usually developed by conducting a job analysis, which includes examining the tasks and sequences of tasks necessary to perform the job. The analysis considers the areas of knowledge, skills and abilities needed to perform the job. Job analysis generally involves the following steps: collecting and recording job information; checking the job information for accuracy; writing job descriptions based on the information; using the information to determine what skills, abilities, and knowledge are required to perform the job; updating the information from time to time. [3] A job usually includes several roles. According to Hall, the job description might be broadened to form a person specification or may be known as "terms of reference". The person/job specification can be presented as a stand-alone document, but in practice it is usually included within the job description. A job description is often used by employers in the recruitment process.
A job description is concerned with addressing the following issues about the job:
Job titleJob locationJob summaryWorking environmentDuties or tasks.What is the role of a job description?In addition to being concerned with the above-stated issues, a job description helps management to identify the job specifications, including the environmental pressures that apply to the position.
A job description also provides the measurement criteria for performance evaluations of each job holder.
Thus, a job description addresses job-related issues.
Learn more about job descriptions at https://brainly.com/question/4677114
Perteet Corporation's relevant range of activity is 3,300 units to 7,500 units. When it produces and sells 5,400 units, its average costs per unit are as follows: Average Cost per Unit Direct materials $ 6.20 Direct labor $ 3.15 Variable manufacturing overhead $ 1.30 Fixed manufacturing overhead $ 3.10 Fixed selling expense $ 0.60 Fixed administrative expense $ 0.30 Sales commissions $ 0.40 Variable administrative expense $ 0.45 If 4,200 units are produced, the total amount of manufacturing overhead cost is closest to: Multiple Choice $18,480 $29,970 $22,200 $15,540
Answer: $22,200
Explanation:
The total amount of manufacturing overhead cost will be gotten by adding the fixed manufacturing overhead cost to the variable manufacturing overhead cost. This will be:
Fixed manufacturing overhead cost = 5400 × $3.10 = $16740
Variable manufacturing overhead cost will be: = (7500 - 3300) × $1.30 = $5460
Therefore, the total amount of manufacturing overhead cost will be:
= $16740 + $5460
= $22,200
define private equity funds economics.
its like keeping the funds private and makeing sure no one knows alot about it
Riverton Corp., which began business at the start of the current year, had the following data: Planned and actual production: 40,000 units Sales: 37,000 units at $15 per unit
Production costs: Variable: $4 per unit
Fixed: $260,000
Selling and administrative costs:
Variable: $1 per unit
Fixed: $32,000 The contribution margin that the company would disclose on a variable-costing income statement is:________.
a. None of the answers is correct.
b. $166,500.
c. $97,500.
d. $370,000.
e. $147,000.
Answer:
B. $166,500
Explanation:
Given the above information, we'll calculate fixed cost per unit.
Fixed cost per unit
= $260,000 ÷ 40,000 units
= $6.5 per unit
Then,
Sales per units
= Variable cost per unit - Fixed costs per units
= $15 - $4 - $6.5
= $4.5
Contribution margin
= $4.5 × 37,000
= $166,500
Stock A's beta is 1.7 and Stock B's beta is 0.7. Which of the following statements must be true about these securities? (Assume market equilibrium.) a. The expected return on Stock B should be greater than that on A. b. Stock B must be a more desirable addition to a portfolio than A. c. Stock A must be a more desirable addition to a portfolio than B. d. When held in isolation, Stock A has more risk than Stock B. e. The expected return on Stock A should be greater than that on B.
Answer:
D
Explanation:
Systemic risk is measured by beta. In the CAPM equation, beta is a positive function of required return, so the higher beta is, the higher the systemic risk and the higher the compensation demanded for by investors.
required return = risk free return + beta x ( market risk premium)
The appropriateness of adding a stock to a portfolio cannot be determined by looking at the stock alone. the stock has to be looked at in context with the total portfolio
define securitization.
Answer:
The conversion of an asset, especially a loan, into marketable securities, typically for the purpose of raising cash by selling them to other investors.
Tommy's parents died in a plane crash and he went to live with his guardian, Aunt Rose. Rose had a very small house and did not have a separate bedroom and bath for 12-year-old Tommy. She and Tommy decided to use some of his inheritance to pay for an addition to the house. He had some shares of stock transferred into Rose's name so that she could sell them when the money was due to be paid. The stock transfers are:
Answer:
presumed voidable unless Rose can show no unfair advantage was taken.
Explanation:
In the given scenario Tommy had some shares of stock transferred into Rose's name so that she could sell them when the money was due to be paid for the addition to the house.
However Tommy is a minor living with his guardian Aunt Rose.
She may have an unfair influence over him that will force him to make the share transfers.
Considering this the transfer of shares can be viewed as voidable until she proves she did not use the unfair advantage of being a guardian to push the transaction through
define regulation economics.
Answer and Explanation:
Regulatory economics is the economics of regulation. It is the application of the law by government or independent administrative agencies for various purposes, including remedying market failure, protecting the environment, and economic management
Answer:
regulation economics is the economics of regulation. It is the application of the law by government or independent administrative agencies for various purposes
In which one of the following instances is the rivalry among competing sellers generally
weaker?
When the industry's product is costly to hold in inventory, perishable, or seasonal
o When one or more rivals are dissatisfied with their business performance and are making
aggressive moves to attract more customers
When there are so many rivals that any one company's actions have little direct impact on
the businesses of rivals
when rivals have dissimilar costs and dissimilar industry outlooks
When competing sellers are active in making fresh moves to improve their market standing
and business performance
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Answer:
I'd say when there are so many rivals that one company's action have little direct impact on the businesses of rivals
Prepare journal entries to record the following transactions and events that occurred in Marilyn County during calendar year 2019:
1. The legislature adopted the following budget:
Estimated revenues and other sources:
Property taxes $1,740,000
Sales taxes 1,000,000
Use of fund balance 10,000
Total $2,750,000
Appropriations:
General government—
Salaries $ 420,000
General government—supplies 30,000
Parks department—salaries 2,000,000
Parks department—plants and supplies 300,000
Total $2,750,000
2. The Parks department placed PO 2019-1 for shrubbery in the amount of $52,000 and PO 2019-2 for gardening supplies in the amount of $11,000. The orders were charged to the appropriation for Parks department—plants and supplies.
3. The supplier delivered the shrubbery ordered on PO 2019-1; however, the supplier said he could not deliver some of the shrubs because he no longer carried them. The invoice for $49,000 was approved and forwarded to the comptroller’s office for payment; the rest of the order ($3,000) was cancelled.
4. The supplier delivered the gardening supplies ordered on PO 2019-2. She sent an invoice for $11,200 because some of the items were of a higher quality than ordered. The Parks department accepted the entire delivery and forwarded the invoice for payment.
5. Based on a mid-year review of economy, the finance director concluded that sales tax revenues would be less than the original estimate. As a result, the legislature amended the budget, reducing the sales tax estimate by $50,000 and the Parks department—plants and supplies appropriation by $35,000
Answer:
Shrubbery Expense (Dr.) $52,000
Gardening Supplies (Dr.) $11,000
Accounts Payable (Cr.) 63,000
Accounts Payable (Dr.) $3,000
Cancelled Order for Shrubbery (Cr.) $3,000
Gardening Supplies (Dr.) $200
Accounts Payable (Cr.) $200
Explanation:
Marilyn County has estimated the expense and raised PO for the park development. The park supplies and shrubbery expense are recorded on the estimated amount. The invoice received is for differential amount and the expense is recorded for the revised amount.
Following are the journal entries to the given points:
For reverse entanglements for order PO 2019-1, reverse the entry in section two (i.e., debit the budgetary fund balance and credit the encumbrances-park department plants and equipment account with the original order amount of $52,000).The order PO 2019-1 expense of $49,000 will be documented by debiting the Expenditures-Parks department plants and supplies account and crediting the vouchers payable account.For reverse impediments on order PO 2019-2, reverse the entry in section 2 (i.e., debit the budgetary cash position & credit the encumbrances-park department plants and supplies account with the initial invoice value of $11,000).An order PO 2019-2 expense of $11,200 will just be recorded by debiting the Expenditures-Parks department plants or supplies account and crediting the vouchers payable account.Sale tax money is reduced by $50,000 in the revised budget, as are funds for parks department plants and supplies by $35,000 in the revised budget. The budgetary fund balance will indeed be reduced by $15,000. (In other words, $50,000–$35,000).Please find the journal entries in the attachment file.Learn more:
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Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 1,400 units. The costs and percentage completion of these units in beginning inventory were:
Cost Percent Complete
Materials costs $6,700 65%
Conversion costs $7,800 45%
A total of 8,500 units were started and 6,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month:
Cost
Materials costs $126,500
Conversion costs $208,000
The ending inventory was 50% complete with respect to materials and 35% complete with respect to conversion costs. The cost per equivalent unit for conversion costs for the first department for the month is closest to:_____.
a. $18.42.
b. $19.02.
c. $19.91.
d. $17.60.
Answer: $27.14
Explanation:
First find the ending inventory:
= Beginning inventory + Units started - units transferred
= 1,400 + 8,500 - 6,900
= 3,000 units
Conversion EUP = Units transferred + (50% * ending inventory)
= 6,900 + (35% * 3,000)
= 7,950 units
Conversion cost per EUP:
= (Beginning conversion cost + month conversion cost) / EUP
= (7,800 + 208,000) / 7,950
= $27.14
The options are probably for another variant of this question.
All of Ameliorate Inc.'s sales are on account. 60% of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following sale. The following are budgeted sales data for the company: January February March April Total sales $700,000 $500,000 $400,000 $600,000 Cash receipts in April are expected to be:
Answer:
Total cash collection= $530,000
Explanation:
Giving the following information:
Sales:
February $500,000
March $400,000
April $600,000
60% of the credit sales are collected in the month of sale, 30% in the month following sale, and 10% in the second month following the sale.
Cash collection April:
Cash collection credit sales from April= (600,000*0.6)= 360,000
Cash collection credit sales from March= (400,000*0.3)= 120,000
Cash collection credit sales from February= (500,000*0.1)= 50,000
Total cash collection= $530,000
The cash receipts in April should be $530,000.
Calculation of the cash receipts:
= Cash collection from April + cash collection from march + cash collection from february
= (60% of $600,000) + (30% of $400,000) + (10% of $500,000)
= $360,000 + $120.000 + $50,000
= $530,000
hence, The cash receipts in April should be $530,000.
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