Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. The selling price and cost per unit data for 9,130 units of Fluoro2211 are as follows.

Per Unit Data
Selling Price $410
Direct Materials 150
Direct Labor 28
Variable Manufacturing Overhead 25
Fixed Manufacturing Overhead 43
Variable Selling 16
Fixed Selling and Administrative 23
Total Costs 285
Operating Margin $125

During the next year, sales of Fluoro2211 are expected to be 10,130 units. All costs will remain the same except for fixed manufacturing overhead, which will increase by 20%, and direct materials, which will increase by 10%. The selling price per unit for next year will be $420. Based on these data, Razor Inc.'s total contribution margin for next year will be: __________

Answer:

Total contribution margin= $1,884,180

Explanation:

Giving the following information:

Direct Materials 150

Direct Labor 28

Variable Manufacturing Overhead 25

Variable Selling 16

Sales in units= 10,130

Selling price= $420

Direct material cost= 150*1.1= $165

First, we need to calculate the unitary contribution margin:

Unitary contribution margin= selling price - total unitary variable cost

Unitary contribution margin= 420 - (28 + 25 + 16 + 165)

Unitary contribution margin= $186

Now, the total contribution margin:

Total contribution margin= 10,130*186

Total contribution margin= $1,884,180

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

The Titanic Shipbuilding Company has a noncancelable contract to build a small cargo vessel. Construction involves a cash outlay of $273,000 at the end of each of the next two years. At the end of the third year the company will receive payment of $650,000. Assume the IRR of this option exceeds the cost of capital. The company can speed up construction by working an extra shift. In this case there will be a cash outlay of $595,000 at the end of the first year followed by a cash payment of $650,000 at the end of the second year. Use the IRR rule to show the (approximate) range of opportunity costs of capital at which the company should work the extra shift.

The company should work the extra shift if the cost of capital is between ___________ % and ___________ %

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


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

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

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

Etxuck327 Inc. sells a particular textbook for $39. Variable expenses are $28 per book. At the current volume of 49,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:

Calloway Company recorded a right-of-use asset of $790,000 in a 10-year finance lease. The interest rate charged by the lessor was 10%. The balance in the right-of-use asset after two years will be:

You see me now 4 kkt

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

Dennis Overton $180,000
Ben Testerman 120,000

The following additional partner transactions took place during the year:

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

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

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

Svetlana won $1,000,000 in a contest, to be paid in twenty $50,000 payments at yearly intervals, the first payment paid at the time of the contest. (Of course, the present value of her winnings is less than $1,000,000.) Svetlana decided to keep X each year to spend and deposit the remaining $50;000 X into an account earning an annual effective interest rate of 5%. She chose the value X to be as large as possible so that, at the moment of the 20th deposit, the account would have grown to such a size that it would provide Svetlana and her heirs at least X per year in interest forever. Find X.

The following transactions relate to the General Fund of the City of Buffalo Falls for the year ended December 31, 2020:

a. Beginning balances were: Cash, $98,000; Taxes Receivable, $197,000; Accounts Payable, $56,000; and Fund Balance, $239,000.
b. The budget was passed. Estimated revenues amounted to $1,280,000 and appropriations totaled $1,276,400. All expenditures are classified as General Government.
c. Property taxes were levied in the amount of $940,000. All of the taxes are expected to be collected before February 2021.
d. Cash receipts totaled $910,000 for property taxes and $310,000 from other revenue.
e. Contracts were issued for contracted services in the amount of $104,000.
f. Contracted services were performed relating to $93,000 of the contracts with invoices amounting to $90,400.
g. Other expenditures amounted to $986,000.
h. Accounts payable were paid in the amount of $1,130,000.
i. The books were closed.

Required:
a. Prepare journal entries for the above transactions.
b. Prepare a Statement of Revenues, Expenditures, and Changes in Fund Balance for the General Fund.
c. Prepare a Balance Sheet for the General Fund assuming there are no restricted or assigned net resources and outstanding encumbrances are committed by contractual obligation.

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

Which section of a CAR Residential Purchase Agreement is a provision divided into three sections: mediation, arbitration of disputes, and additional terms?

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

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

Question 3
20 pts
Solve the problem
A normal distribution has a limited range and can be skewed in either direction.
True
0 False
Next >

The following model is a simplified version of the multiple regression model used by Biddle and Hamermesh (1990) to study the tradeoff between time spent sleeping and working and to look at other factors affecting sleep:

sleep = β0 + β1totwrk + β2educ + β3age + u,

where sleep and totwrk (total work) are measured in minutes per week and educ and age are measured in years. (See also Computer Exercise.)

(i) If adults trade off sleep for work, what is the sign of β1?

(ii) What signs do you think β2 and β3 will have?

(iii) Using the data in SLEEP75.RAW, the estimated equation is

= 3,638.25 - .148 totwrk - 11.13 educ + 2.20 age n = 706, R2 = .113.

If someone works five more hours per week, by how many minutes is sleep predicted to fall? Is this a large tradeoff?

(iv) Discuss the sign and magnitude of the estimated coefficient on educ.

(v) Would you say totwrk, educ, and age explain much of the variation in sleep? What other factors might affect the time spent sleeping? Are these likely to be correlated with totwrk?

Use the data in SLEEP75.RAW from Biddle and Hamermesh (1990) to study whether there is a tradeoff between the time spent sleeping per week and the time spent in paid work. We could use either variable as the dependent variable. For concreteness, estimate the model

sleep =β0+ β1totwrk+u, where sleep is minutes spent sleeping at night per week and totwrk is total minutes worked during the week.

(i) Report your results in equation form along with the number of observations and R2. What does the intercept in this equation mean?

(ii) If totwrk increases by 2 hours, by how much is sleep estimated to fall? Do you find this to be a large effect?

What was the first chess champion

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

Jane is planning to go on a camping trip. She purchases a bottle of mineral water, a pack of biscuits, a small tube of toothpaste, and a toothbrush from the supermarket near her house. The items that Jane has purchased from the supermarket are _____.

Help me please thank you

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

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

Units:

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

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

Required:
Calculate the cost per equivalent unit of materials.

Seiko’s current salary is $85,000. Her marginal tax rate is 32 percent and she fancies European sports cars. She purchases a new auto each year. Seiko is currently a manager for an Idaho Office Supply. Her friend, knowing of her interest in sports cars, tells her about a manager position at the local BMW and Porsche dealer. The new position pays only $75,000 per year, but it allows employees to purchase one new car per year at a discount of $15,000. This discount qualifies as a nontaxable fringe benefit. In an effort to keep Seiko as an employee, Idaho Office Supply offers her a $10,000 raise. Answer the following questions about this analysis.
Problem 12-41
Part a a. Assuming it has a 21 percent marginal tax rate, what is the annual after-tax cost to Idaho Office Supply to provide Seiko with the $10,000 increase in salary?

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

Use the information from the balance sheet and income statement below to calculate the following ratios:

a. Current Ratio
b. Acid-test ratio
c. Times interest earned
d. Inventory turnover
e. Total asset turnover
f. Operating profit margin
g. Days in receivables
h. Operating return on assets
i. Debt ratio
j. Fixed asset turnover
k. Return on equity

Balance Sheet ASSETS

Cash $100,000
Accounts receivable 30,000
Inventory 50,000
Prepaid expenses 10,000
Total current assets $190,000
Gross plant and equipment 401,000
Accumulated depreciation (66,000)
Total assets $525,000

LIABILITIES AND OWNERS' EQUITY

Accounts payable $90,000
Accrued liabilities 63,000
Total current liabilities $153,000
Long-term debt 120,000
Common stock 205,000
Retained earnings 47,000
Total liabilities and equity $525,000
Income Statement Sales* $210,000
Cost of goods sold (90,000)
Gross profit $120,000
Selling, general, and
administrative expenses (29,000)
Depreciation expenses (26,000)
Operating profits $65,000
Interest expense (8,000)
Earnings before taxes $57,000
Taxes (11,970)
Net income $45,030

Managers must be able to determine whether their workers are doing an effective and efficient job, with a minimum of errors and disruptions. They do so by using a performance appraisal, an evaluation that measures employee performance against established standards in order to make decisions about promotions, compensation, training, or termination. Managing effectively means getting results through top performance. That's what performance appraisals at all levels of the organization are for—including at the top, where managers benefit from review by their subordinates. In the 360-degree review, management gathers opinions from all around the employee, including those under, above, and on the same level, to get an accurate, comprehensive idea of the worker's abilities.

a. True
b. False

Deal Leasing leased equipment to Hand Company on January 1, 2021. The leased equipment's book value is $420,000 with no estimated residual value at the end of its useful life. The remaining useful life of the leased equipment is 15 years. The lease payments were calculated to provide the lessor a 10% return. Ten annual lease payments of $60,000 are due at the beginning of each year beginning January 1, 2021. Both companies use the straight-line method in depreciation/amortization their assets.

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payable semiannually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year. Bird received the following royalties from Brian:
March 15 September 15
20X4 $5,000 $7,500
20X5 6,000 8,500
Brian estimated that the sales of the trademarked items would total $30,000 for July through December 20X5. In Bird's 20X5 Income Statement, the royalty revenue should be:______.
a. $13,000.
b. $14,500.
c. $19,000.
d. $20,500.

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

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

The following summary transactions occurred during 2021 for Bluebonnet Bakers:
Cash Received from:
Collections from customers $490,000
Interest on notes receivable 11,500
Collection of notes receivable 54,000
Sale of investments 34,000
Issuance of notes payable 175,000
Cash Paid for:
Purchase of inventory 235,000
Interest on notes payable 7,500
Purchase of equipment 90,000
Salaries to employees 95,000
Payment of notes payable 40,000
Dividends to shareholders 35,000
The balance of cash and cash equivalents at the beginning of 2021 was $26,000.
Required:
Prepare a statement of cash flows for 2021 for Bluebonnet Bakers. Use the direct method for reporting operating activities