Schell Company manufactures automobile floor mats. It currently has two product lines, the Standard and the Deluxe. Suppose that Schell has conducted further research into its overhead and potential cost drivers. As a result, the company has compiled the following detailed information, breaking total overhead into three cost pools:

Activity Cost Pools Cost Driver Cost Assigned to Pool Quantity/Amount Consumed by Standard Floor Mat Line Quantity/Amount Consumed by Deluxe Floor Mat Line
Material handling Number of moves $3,750 30 moves 70 moves
Quality control Number of inspections $13,860 400 inspections 600 inspections
Machine maintenance Number of machine hours $21,450 4,150 machine hours 3,000 machine hours

Required :
a. Calculate the activity rates for each cost pool assuming Schell uses an ABC system.
b. Calculate the amount of overhead that Schell will assign to the Standard floor mat line.
c. Determine the amount of overhead Schell will assign to the Deluxe product line.

Answer:

Results are below.

Explanation:

First, we need to calculate the activities allocation rates:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Material handling=  3,750/100= $37.5 per move

Quality control=13,860/1,000= $13.86 per inspections

Machine maintenance= 21,450/7,150= $3 per machine hour

Now, we can allocate costs to each product:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Standard:

Allocated overhead= (37.5*30) + (13.86*400) + (3*4,150)

Allocated overhead= $19,119

Deluxe:

Allocated overhead= (37.5*70) + (13.86*600) + (3*3,000)

Allocated overhead= $19,941

The usual stated political goal of rent control isGroup of answer choicesto conduct social engineering via economic rules.prices that allow rationing to the highest bidder.to assist the low income at a cost to society, in convenient, affordable housing.to pander to the low income voters by assuring them enough living space.to pander to real estate landlords by assuring them a low occupancy rate.

You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X and Y. The weights of X and Y in P are 0.60 and 0.40, respectively. X has an expected rate of return of 0.14 and variance of 0.01, and Y has an expected rate of return of 0.10 and a variance of 0.0081. If you want to form a portfolio with an expected rate of return of 0.10, what percentages of your money must you invest in the T-bill, X, and Y, respectively if you keep X and Y in the same proportions to each other as in portfolio P

OHaganBooks has two principal competitors: JungleBooks and FarmerBooks. Combined website traffic at the three sites is estimated at 8,000 hits per day. Only 10% of the hits at OHaganBooks result in orders, whereas JungleBooks and FarmerBooks report that 20% of the hits at their sites result in book orders. Together, the three sites process 1,300 book orders per day. FarmerBooks appears to be the most successful of the three and gets as many book orders as the other two combined. What is the traffic (in hits per day) at each of the sites?

Three friends are trying to decide what to do on Saturday night. The options are to go to a party, go see a play, or hang out at their apartment. Abdul prefers to see a play over going to the party, which he prefers to hanging out. Gina prefers to hang out over seeing a play, which she prefers to going to the party. Shaquille would most like to go to the party, his second choice is to hang out, and the play is his least preferred option. In the spirit of democracy, they decide to vote on their options. In a three-way vote, they each vote for a different choice, leading to a tie and failing to solve their problem. They thus decide to consider the options in pairs.
(1 point) Shaquille suggests that they first vote on hanging out versus going to the play and then vote on the winner of that versus going to the party. Which option will be chosen?
Choose one:
A. Go to the play.
B. Go to the party.
C. Hang out.

The Pioneer Company has provided the following account balances: Cash $39,400; Short-term investments $5,400; Accounts receivable $7,400; Supplies $55,000; Long-term notes receivable $3,400; Equipment $103,000; Factory Building $194,000; Intangible assets $7,400; Accounts payable $28,600; Accrued liabilities payable $3,300; Short-term notes payable $16,800; Long-term notes payable $99,000; Common stock $194,000; Retained earnings $73,300. What is Pioneer's current ratio

Taveras Corporation is currently operating at 50% of its available manufacturing capacity. It uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production 260,000 Fixed manufacturing overhead cost $ 5,720,000 Variable manufacturing overhead cost per machine-hour $ 2.00 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job P90 was started, completed, and sold to the customer for $4,400. The following information was available with respect to this job: Direct materials $ 2,024 Direct labor cost $ 1,452 Machine-hours used 91 Compute the total manufacturing cost assigned to Job P90.

Corporate strategy for a diversified or multi-business enterprise chiefly concerns the development of a strategic vision a set of objectives and a strategy for each business the company is in and also specifying the functional area and operating strategies that each business must employ concerns strategy initiatives to establish business positions in different industries, whether to hold or divest existing businesses strategic actions to boost the combined performance of the set of businesses the company has diversified into, and how to capture cross- business synergies and turn them into a competitive advantage concrns developing the strategic initiatives and approaches that are to be used in managing key operating units (plants, distribution centers, geographic units) and specific operating activities with strategic significance for the company as a whole is orchestrated by the company's CEO and other top executives and consists of a collection of business strategies--one for each business the company has diversified into. is orchestrated by the general managers of each of the company's different lines of business, Often with advice and input from the heads of functional area activities within each business and other key people

Presented below are four statements which you are to identify as true or false. If false, explain why the statement is false.
If false, explain why the statement is false.
1. GAAP is the term used to indicate the whole body of FASB authoritative literature.
2. Any company claiming compliance with GAAP must comply with most standards and interpretations but does not have to follow the disclosure requirements.
3. The primary governmental body that has influence over the FASB is the SEC.
4. The FASB has a government mandate and therefore does not have to follow due process in issuing a standard.

When Unraveling the Unit Circle the sine function creates a relationship between the _________and the ________ starting at 0 radians going counter-clockwise. The cosine function creates a relationship between the _________ and the ________ starting at 0 radians going counter-clockwise . The tangent function creates a relationship of the _______ starting at 0 radians going counter-clockwise.

Broderick Company began operations on January 2, 2019. It employs 9 individuals who work 8-hour days and are paid hourly. Each employee earns 10 paid vacation days and 6 paid sick days annually. Vacation days may be taken after January 15 of the year following the year in which they are earned. Sick days may be taken as soon as they are earned; unused sick days accumulate. Additional information is as follows.
Actual Hourly Vacation Days Used 00 Sick Days Used
Wage Rate 00 by Each Employee by Each Employee

2019 2020 2019 2020 2019 2020
$10 $11 0 9 4 5
Broderick Company has chosen to accrue the cost of compensated absences at rates of pay in effect during the period when earned and to accrue sick pay when earned.
Instructions
a. Prepare journal entries to record transactions related to compensated absences during 2019 and 2020.
b. Compute the amounts of any liability for compensated absences that should be reported on the balance sheet at December 31, 2019 and 2020.

Naya has done a lot of shopping recently. Which receipt should she probably keep the longest? *

CVS receipt for a juice and a pack of ponytail holders

Mall store for 5 shirts and 2 pants, all of which she's tried on and fit

Restaurant receipt for sandwich, salad, and lemonade

Target receipt for bluetooth headphones for her and a popular toy for her niece's birthday

The following trial balance of Sheffield Co. does not balance
SHEFFIELD CO. TRIAL BALANCE JUNE 30, 2017
Debit Credit
Cash $3,227
Accounts Receivable $3,588
Supplies 1,157
Equipment 4,157
Accounts Payable 3,023
Unearned Service Revenue 1,557
Common Stock 6,357
Retained Earnings 3,357
Service Revenue 2,737
Salaries and Wages Expense 3,757
Office Expense 1,297
Totals $15,513 $18,701
Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
2. The purchase of a computer printer on account for $857 was recorded as a debit to Supplies for $857 and a credit to Accounts Payable for $857.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
4. A payment of $422 for telephone charges was recorded as a debit to Office Expense for $422 and a debit to Cash for $422
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $682 was performed prior to June 30 (related to Unearned Service Revenue)
6. A debit posting to Salaries and Wages Expense of $1,027 was omitted.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260
8. A dividend of $932 was debited to Salaries and Wages Expense for $932 and credited to Cash for $932.
Prepare a correct trial balance. Answer the missing blank part.
SHEFFIELD CO. TRIAL BALANCE JUNE 30, 2017
Debit Credit
Cash $2563 $
Accounts Receivable 3408
Supplies 300
Equipment _____
Accounts Payable 2557
Unearned Service Revenue 875
Common Stock 6357
Retained Earnings 3357
Dividends 932
Service Revenue 4220
Office Expense _____
Salaries and Wages Expense _____
Totals 17366 17366

What will happen to the equilibrium price and quantity of airline fares as a result of the following two simultaneous changes (assume no other changes): I. the recent recession has encouraged people to save more, so fewer people decide to go on vacation. II. higher oil prices and weather-related difficulties have increased the cost of providing airline services.

M/J Business Keyboarding Guided Notes Module 1

Module 1: Keyboarding Basics

1.1 The Basics
Vocabulary Terms
touch typing
muscle memory
ergonomics
repetitive strain injuries (RSI)
carpal tunnel syndrome
Guided Questions
 How can you arrange your workstation to
apply proper ergonomics?
 When typing, what are the characteristics of
correct ergonomics and proper typing
posture?
 How do correct ergonomic habits contribute
to proper keyboarding and prevent injury
when typing?
 What are some strategies you should follow
to prevent RSI?
 When working on a laptop or on a tablet,
how can you apply proper ergonomics?
 What do you need to know about the
QWERTY keyboard to learn how to type?
 Where are these keys located on the
keyboard and what is the purpose of each?
Home Row / Home Keys, Spacebar, Shift,
Enter, Tab, Backspace, Caps Lock
 How should you position your fingers on the
home row?
 Why is using the home row important to
typing mastery?
 How do the buttons and special keys help
you navigate the Typing Tool?

M/J Business Keyboarding Guided Notes Module 1

1.02 Home Row F and J
Vocabulary Terms
workstation
ergonomics
home row keys
typing technique
Guided Questions
 Where should you position your fingers to
before you start typing?
 How can you find the F and J keys without
looking at the keyboard?
 Which finger do you use to type the F key?
The J key? The space bar?
1.03 Input, Output, Storage, and Memory
Vocabulary Terms
Central Processing Unit (CPU)
peripherals
input device
output device
USB (Universal Serial Bus) connector
memory
storage memory
random access memory (RAM)
read-only memory (ROM)
storage devices
Guided Questions
 What is the purpose of each of these
computer peripherals? What are examples
of each?
o an input device
o an output device
 Which peripherals can be both and input
and output devices?
 How do input and output devices connect to
a computer?
 What is the purpose of different types of
computer memory? What are examples of
each?
 What is the purpose different storage
devices? What are examples of each?
 What is “the cloud?”
1.04 – 1.06: Home Row D and K / Home Row S and L / Home Row A and ;

M/J Business Keyboarding Guided Notes Module 1

Vocabulary Terms
home row
workstation
ergonomics
typing technique
Guided Questions
 Where should you position your fingers to
before you start typing?
 Which finger do you use to type each of
these keys?
D K S L
A ; Space Bar

1.07 Computer Maintenance
Vocabulary Terms
Guided Questions
 Why is it important to properly care for your
computer and electronic devices?
 What are some things you should DO and
should NOT DO to properly care for your
computer (hardware and software)?
 Why are software updates important?
 Why is it important to clean your computer
and workspace regularly?
 How should you clean each of these
computer parts? Why?
o keyboard
o mouse or trackpad
o screen or monitor

1.08 Home Row G, H, Enter
Vocabulary Terms
reach keys
home row
workstation
ergonomics
typing technique
Guided Questions
 Which keys are the reach keys?
 Where should you position your fingers to
before you start typing?
 Which finger do you use to type these keys?
G H ENTER
Space Bar

M/J Business Keyboarding Guided Notes Module 1

1.09 Home Row Review
Vocabulary Terms
Guided Questions
 What are the different parts/components of
a computer system and why are they
important?
 Why are storage devices (USB flash drives,
external hard drives, and cloud storage)
helpful?
 Why is it helpful to know the parts of a
computer system and how to care for it?
 What are some proper computer
ergonomics practices to type pain free and
avoid injury?
 What do you remember about which fingers
to use when typing the home row keys?

Left Hand
Fingers Keys Keys Right Hand
Fingers
pinky finger pinky finger
ring finger ring finger
middle finger middle finger
index finger index finger
thumb thumb

Jasper Furnishings has $300 million in sales. The company expects that its sales will increase 12% this year. Jasper's CFO uses a simple linear regression to forecast the company's inventory level for a given level of projected sales. On the basis of recent history, the estimated relationship between inventories and sales (in millions of dollars) is as follows:

Inventories=$25+0.125(Sales).

Given the estimated sales forecast and the estimated relationship between inventories and sales, what are your forecasts of the company’s year-end inventory level and its inventory turnover ratio?

[The following information applies to the questions displayed below.]
The general ledger of Jackrabbit Rentals at January 1, 2021, includes the following account balances:
Accounts Debits Credits
Cash $ 41,500
Accounts Receivable 25,700
Land 110,800
Accounts Payable 15,300
Notes Payable (due in 2 years) 30,000
Common Stock 100,000
Retained Earnings 32,700
Totals $ 178,000 $178,000
The following is a summary of the transactions for the year:
1. January 12 Provide services to customers on account, $62,400.
2. February 25 Provide services to customers for cash, $75,300.
3. March 19 Collect on accounts receivable, $45,700.
4. April 30 Issue shares of common stock in exchange for $30,000 cash.
5. June 16 Purchase supplies on account, $12,100.
6. July 7 Pay on accounts payable, $11,300.
7. September30 Pay salaries for employee work in the current year, $64,200.
8. November 22 Pay advertising for the current year, $22,500.
9. December 30 Pay $2,900 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued interest on the notes payable at year-end amounted to $2,500 and will be paid January 1, 2022. Accrued salaries at year-end amounted to $1,500 and will be paid on January 5, 2022. Supplies remaining on hand at the end of the year equal $2,300.
Record closing entries. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

What is an observation quite different from the rest of the data called?

External benefits create a market failure because: A. The activities that produce external benefits may not create sufficient private benefits to producers and consumers to warrant their production. B. The activities that produce external benefits only improve the lives of poor people. C. The activities that produce external benefits are too costly to produce. D. External benefits do not improve the lives of individuals. E. The activities that create external benefits may create high external costs that harm communities.

Majestic Bank offers loans at various interest rates, depending on the nature of the loan.
Kevin wants to borrow $230,000 for a new home. He promises to pay back the loan in 10 years. Maria also wants to borrow $230,000 for a new home. She promises to pay back the loan in 15 years. Assume Kevin and Maria are equally creditworthy and that the two home mortgages are the same in all other aspects.
If all else is constant, the bank would most likely charge a higher interest rate to (Kevin/Maria) .

If Chelsea decides to wait two years
before making the down payment,
instead of one, how much money
will she have after two years?

Match the externality to the appropriate description. 1. This might arise if a firm producing pharmaceuticals dumps its waste in a river or pollutes the air. 2. If a promising compound is discovered, this will lead to the publication of scientific papers on the compound; therefore, the research undertaken on the compound will lead to the identification of other useful avenues for research. 3. In addition to their effects on individual health, cigarette smoking and alcohol consumption may also have negative effects on the rest of society in terms of passive smoking and antisocial behavior, which are not compensated for in the private market. 4. Vaccines have a direct health benefit on others by reducing their chances of ill health, and they are not being compensated in the private market; therefore, these activities should be subsidized. A. External cost of production B. External benefits of production C. External costs of consumption D. External benefits of consumption

state three essential characteristics of a good leaders​

Paige independently owns and operates HiZ Inc., a company with 22 employees. She manages aggressively and expects rapid sIn the context of the entrepreneurial strategy matrix, a new pasanger vehicel is most likely to have the highest risks and returns.ales and profit growth. Paige's company is considered a(n) ________ venture.

The following preliminary unadjusted trial balance of Ranger Co., sports ticket agency, Errors in trial balance
Ranger Co. Unadjusted
Trial Balance
August 31, 2014
Debit balance Credit Balances
Cash 77600
Accounts Receivable. 377500
Prepaid Insurance 12000
Equipment.. 19000
Accounts Payable 29100
Unearned Rent..... 10800
Carmen Meeks, Capital 110000
Carmen Meeks, Drawing. 13,000
Service Revenue 385000
Wages 213000
Expense
Advertising Expense.. 16350
Miscellaneous Expense 18,400
273,700 668,300
When the ledger and other records are reviewed, you discover the following:
(1) the debits and credits in the cash account total $77,600 and $62,100, respectively;
(2) a billing of $9,000 to a customer on account was not posted to the accounts receivable account
(3) a payment of $4,500 made to a creditor on account was not posted to the accounts payable accOunt;
(4) the balance of the unearned rent account is $5,400;
(5) the correct balance of the equipment account is $190,000; and
(6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.

The operating income of Carbon Footwear is $10 million. Its net marketing contribution is derived from sales of $ 80 million and the marketing and sales experiences amount to $15 million. The general and administrative expenses and other operating expenses amount to $20 million What is the total amount of Carbon Footwear's net marketing contribution

assume that by continuing your education, you increased your yearly earning potential from 21,484 to 39746.

The SEC has lifted its requirement that foreign companies, which have used IFRS as the basis for preparing their financial statements, must reconcile their financial statements using U.S. GAAP in order to be eligible to list their shares on U.S. stock exchanges. When did this happen

What do you think is the most important skill a judge can possess

Here are some important figures from the budget of Crenshaw, Inc., for the second quarter of 2019:

April May June
Credit sales $403,000 $352,000 $440,000
Credit purchases 180,000 168,000 201,000
Cash disbursements
Wages, taxes
and expenses 79,800 75,300 104,000
Interest 9,500 9,500 9,500
Equipment purchases 33,500 6,000 148,000

The company predicts that 5 percent of its credit sales will never be collected, 30 percent of its sales will be collected in the month of the sale, and the remaining 65 percent will be collected in the following month. Credit purchases will be paid in the month following the purchase. In March 2019, credit sales were $330,000.

Using this information, complete the following cash budget.

April May June
Beginning cash balance $110,000
Cash receipts
Cash collections from credit sales
Total cash available
Cash disbursements
Purchases $172,000
Wages, taxes, and expenses
Interest
Equipment purchases
Total cash disbursements
Ending cash balance

Among adults twenty-one years of age and older, roughly half are college graduates. Despite having a much higher rate of colleges and universities per capita than European countries; the U.S. has a lower rate of college graduation per capita. Every U.S. state has at least twenty colleges or universities within its borders. Among adults twenty-one years of age and older, roughly one in four is a college graduate. Although the U.S. has a lower number of colleges and universities per capita than Europe, it has a much higher rate of college graduation per capita.

a. True
b. False