Eve shops at Mrs. G's Grocery because it is located right near her place of work. Although Mrs. G's prices are higher than Walmart's, Eve is willing to pay more because she can easily pick up groceries on her way home from work. The convenience Eve received was well worth the extra money; this is an example of _______.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) Value.
b) Hedonic value.
c) Utilitarian value.
d) Perceived value.
And the correct answer is the option D: Perceived value.
Explanation:
To begin with, in the field of marketing the term known as "Perceived Value" refers to the type of value that the customer receives when comparing the product of the company with those of the competitors and seeing that he or she is willing to pay more for that product because of what the customer receives in exchange of it. In this case, Eve is willing to pay extra money due to the fact that she sees the convenience of close by store that allows her to not waste time and buy fast so that is a well example of perceived value.
The convenience that Eve received was well worth the extra money, hence, it is an example of Perceived value.
In marketing, a Perceived Value refers to the type of value that the customer receives when comparing the product of the company with those of the competitors.
Hence, the convenience that Eve received was well worth the extra money, hence, it is an example of Perceived value.
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You just won the lottery! As your prize you will receive $1,200 a month for 100 months starting today. If you can earn 8% on your money, what is this prize worth to you today
Answer: $87,380.23
Explanation: n = 100
I/Y = 8%/12
PMT = 1,200
AVP = 1,200 × (1-(1/(1+0.08/12)^100))/(0.08/12) = 1,200 × 72.816858 = 87,380.23
The prize worth to a person today is $87,380.23 approx, if the person wins a lottery.
What is the present value?A financial calculation known as present value, commonly referred to as discounted value, assesses the value of a future sum of money or stream of payments in today's dollars after accounting for interest and inflation.
It contrasts the purchasing power of one dollar today with that of one dollar in the future, present value\ is computed by the following formula:
[tex]\text{Present Value} = \rm A\times {\dfrac{1-(1+\dfrac{i}{m})^n^m}{\dfrac{i}{m}}\\[/tex]
whereas:
A= Annuity
i= Interest rate
n= Number of periods
m= Periodicity
Computation of present value of the price:
Apply the given values in (1),
[tex]\text{Present Value} = \rm A\times {\dfrac{1-(1+\dfrac{i}{m})^n^m}{\dfrac{i}{m}}\\\text{Present Value} = $1,200\times {\dfrac{1-(1+\dfrac{0.08}{12})^(8.33 \times 12)}{\dfrac{0.08}{12}}[/tex]
Present Value = $87,380.23 approx.
Therefore, the prize worth to a person today is $87,380.23 approx.
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4. Know the market trends of products that are in demand not
only within the local market but also in the international market.
Answer:
oligopoly
Explanation:
it is unique the market is blocked not easy to enter
Account verification accounts 5,000 accounts 3,000 accounts Correspondence letters 1,000 letters 1,400 letters How much of the account billing cost will be assigned to Department B
Answer:
$24,750
Explanation:
The computation of the account billing cost assigned to department B is shown below;
Computation of the activity rate of account billing cost pool
Activity rate = Account billing cost ÷ Expected account billing lines
= $220,000 ÷ 4,000,000
= $0.055 per line
Now Calculation for account billing cost assigned to department B is
Cost assigned = Activity rate × Activity of Department B
= $0.055 × 450,000
= $24,750
Supposed you have had 10 apples. You gave 4 apples to your friend for Christmas. What portion of the initial amount did you give away? (use similar formatting to the dollar amount, strictly decimals, no other signs or characters)
Answer:
The portion of the initial amount that was given away is:
= 0.40
Explanation:
a) Data and Calculations:
Number of apples available = 10
Number of those apples given to a friend for Christmas = 4
The portion given away = 4/10 = 0.4
This represents 40% of the whole.
b) The portion given away to the friend for Christmas is a proportion of the whole. In this case, it represents just 40% of the 10 apples. This means that only 60% or 0.60 of the original apples are still available or on hand because 40% had been given away.
What is meant by the phrase nonverbal communication and what form of nonverbal communication do you think is misunderstood the most by people? in a 200 word
Answer:
See the explanation below.
Explanation:
Nonverbal communication involves the transfer of messages or signals utilizing nonverbal platforms such as eye contact, facial expressions, gestures, posture, and body language. It entails the utilization of social cues, kinesics, distance, physical environments/appearance, voice, and touch, among other things.
I think that gesture is the most misinterpreted form of nonverbal communication. Gesture refers to the movement of a body component, especially the hand or the head, to convey a message or meaning.
Gesture is the most misinterpreted form of nonverbal communication due to the fact that the meaning of particular gestures varies greatly throughout cultures. While the hand-held “OK” sign, for example, normally sends a positive message in English-speaking countries, it is deemed offensive in Germany, Russia, and Brazil. As a result, it's critical to be cautious about how you utilize gestures in order to avoid misinterpretation.
The technical and socio-cultural dimensions of project management are two sides of the same coin. Explain
Indeed, the technical and socio-cultural dimensions of project management are two sides of the same coin. This is so because the project management is in charge of administering and managing the human and material resources of a specific project.
Thus, it must organize not only the resources but also the members of the company who are in charge of exploiting those resources and maximizing results.
Therefore, just as a technical face is required to organize resources, a socio-cultural and human approach is required that allows a better functioning of the human resources of the company.
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You bought a bond five years ago for $804 per bond. The bond is now selling for $770. It also paid $55 in interest per year, which you reinvested in the bond. Calculate the realized rate of return earned on this bond. (Do not round intermediate calculations. Round your percentage answer to 2 decimal places. (e.g., 32.16))
Answer:
the rate of return is 6.09%
Explanation:
the computation of the realized rate of return earned on this bond is shown below:
Given that
NPER is 5
PMT is $55
PV is $804
FV is $770
The formula is shown below:
=RATE(NPER,PMT,-PV,FV,TYPE)
After applying the above formula, the rate of return is 6.09%
Customers arrive at a bank teller machine at the rate one every three minutes. Each customer spends an average of two minutes at the teller machine. The arrival rate and the service rate are approximated by Poisson and negative exponential distributions respectively.
Determine the following:
a – utilization of the teller machine
b – average number of customers in line
c – average number of customers in the system
d – average time customers spend in line
e – average time customers spend in the system
f – probability of three customers in the system
g – probability of two or more customers in the system.
Answer:
Arrival rate
1 every 3 minutes
1 minute = 1/3 = 0.33
60 minutes = 0.33*60 = 19.8 = 20 per hour
λ = 20 per hour
Service Rate
1 every 2 minutes
1 minutes = 1/2 = 0.5
60 minutes = 0.5*60 = 30 per hour
µ = 30 per hour
a. Utilization of Teller Machine
P = λ / µ
P = 20/30
P = 66.67%
b. Average number of customers in line
Lq = pL = (λ/µ) (λ/µ- λ)
= (20 / 30) (20 / 30 - 20)
= 20/30 * 20 / 10
= 1.33 customers
c. Average number of customers in the system
L = (λ/µ- λ)
= 20 / 30 - 20
= 20 / 10
= 2 customers
d. Average time customer spends in line
Wq = λ/[µ*(µ- λ)]
= 20 / [30 * (30-20)]
= 20 / 30 * 10
= 0.06667 hours or 4 minutes
e. Average time customers spend in the system
W = 1/(µ- λ)
= 1 / 30 - 20
= 1/10
= 0.10 hours or 6 minutes
f. Probability that there are 3 customers in the system
Pn = (1-p)*p^n
= (1 - 20/30) * (20/30)^3
= 0.3333 * 0.296296
= 0.09876
g. Probability that there are two or more customers in the system
= 1 - P(0) - P(1)
= 1 - (1 - 20/30) * (20/30)^0 - (1 - 20/30) * (20/30)^1
= 1 - 1/3 - 2/9
= 4/9
= 0.4444
Assume that you purchase a 6-year, 8% savings certificate for $1,000. If interest is compounded annually, what will be the value of the certificate when it matures?
Answer:
$1,586.87
Explanation:
Rate (I/Y) = 8.00%
Period (N) = 6
Amount (PV) = 1000
PMT = 80
Annual compounding type
Using the MSExcel function to solve for FV.
Future value = FV(Rate, Nper, Pmt, -Pv, 0)
Future value = FV(8%, 6, 80, 1000, 0)
Future value = $1586.87432294
Future value = $1,586.87
So, the value of the certificate when it matures will be $1,586.87.
Even in these times of social media and digital content some of the old ways of promotion can still be effective. Identify two strengths and two weaknesses of each major advertising medium: newspapers, television, direct mail, radio, magazines, and outdoor display.
Answer:
Newspaper Advertising
STRENGHTS:
I. Wide reach/coverages
II. Cheap and easily affordable
WEAKNESS:
I. Can easily be destroyed
II. Iliterates can not be able to read its contents.
TELEVISION
STRENGHTS
I. Wider reach/coverage
II. Very attractive and understandable.
WEAKNESSES
I. Very expensive to maintain
II. May not be available to the poor.
DIRECT MAIL
STRENGHTS
I. Focused audience
II. High response rate
WEAKNESSES
I. Too expensive to maintain
II. May not have a wide reach.
RADIO
STRENGHTS
I. Wider reach/coverage
II. Easily accessible and affordable
WEAKNESSES
I. Expensive to maintain especially to the advertising organisation
II. Signal/connection issues.
MAGAZINE
STRENGHTS
I. attractive with colorful eye-catching pictures
II. Can easily understood by users.
WEAKNESSES
I. Magazines are usually very expensive than newspapers
II. Can easily be destroyed.
OUTDOOR DISPLAY
STRENGHTS
I. Very attractive with eye-catching pictures
II. Easily accessible with wider reach.
WEAKNESSES
I. Very expensive to maintain
II. Not focused/ not targeted at audience.
III. Waste coverages
Explanation:
Advertisement agencies are utilising several means of communication and marketing to their customers as described above those means has been fully utilized.
Newspaper Advertising is very affordable and can be easily accessible to the local population while it is easier to destroy or misplaced and also it can not be utilised by illustrates who can not read.
Television advertising is one of the most attractive as it contains pictures that can be attractive to its audience and also it has a wide coverage, it also has certain weaknesses which includes the cost of maintaining etc.
Outdoor advertising is also very attractive to the audience and it has a wide coverage as everyone making use of road can be easily reached. Some of the weaknesses of outdoor advertising includes the cost of sustaining it and also waste coverages as many audience may not need or desire the product being displayed.
You have been given $5 million to market Kaiser health insurance to new college graduates in California. Briefly mention how you will spend the $5 million in an attempt to motivate new graduates to sign up for Kaiser health insurance. Include a brief rationale for your marketing plan.
Answer:
You have been given $5 million to market Kaiser health insurance to new college graduates in California. Briefly mention how you will spend the $5 million in an attempt to motivate new graduates to sign up for Kaiser health insurance. Include a brief rationale for your marketing plan.
The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 2800 units, the actual direct labor cost was $83200 for 5200 direct labor hours worked, the total direct labor variance is $2800 unfavorable. $800 favorable. $800 unfavorable. $500 unfavorable.
Answer:
$800 favorable
Explanation:
Calculation to determine what the total direct labor variance is
Using this formula
Total Direct Labor Variance=(Standard Direct Labor Cost - Actual Direct Labor Cost
Let plug in the formula
Total Direct Labor Variance=[(2800 × 2) × $15]- $83200
Total Direct Labor Variance=$84000 - $83200
Total Direct Labor Variance = $800 favorable
Therefore the total direct labor variance is$800 favorable
A welding company specializes in custom steel frames and uses job costing to account for its operations. The following information is available as of May 1 for the work-in-process inventory account:
Job# Direct Materials Direct Labor Man. Overhead Total Cost
304 $3,000 $1,800 $2,520 $7,320
306 4,000 2,100 2,940 9,040
Total Cost 7,000 3,900 5,460 16,360
Welding Company pays an hourly rate of $15 for direct labor. Manufacturing overhead costsare applied to jobs based on the direct labor hours used. During the month of May, Jacob Welding spends $5,800 to purchase materials and $4,650 for manufacturing overhead. The operations in May are summarized below.
Job# Material Requisition summary Time Card Summary (Hours)
304 $1,100 40
306 900 30
307 2,800 110
308 750 25
Total 5,550 205
Jobs 304, 306, 307 are completed in May but only Jobs 304 and 307 are delivered to customers.
Required:
Calculate the predetermined overhead rate used.
Answer: $21 per direct labor hour.
Explanation:
Based on the information given in the question, the predetermined overhead rate that is used will be calculated as:
= Manufacturing overhead / Direct labor
where,
Manufacturing overhead = 5460
Direct labor = 3900/15 = 260 hours
Therefore, predetermined overhead rate:
= 5460/260
= $21 per direct labor hour.
The demand for a certain drug in a hospital has been increasing. For the past six months, the following demand has been observed:
Month Demand, Units
January 15
February 18
March 22
April 23
May 27
June 26
Use a three-month moving average to make a forecast for July.
Answer:
25.3
Explanation:
A moving average is often used to pinpoint the increase or decrease of a certain statistic over a certain period of time since the increase in the demand for this specific drug has been increasing constantly for the past 6 months we will take the past 3 months, April, May, and June, so we will have to add up 23+27+26=76, now we just have to divide by the number of months= 76/3=25.3, so the moving average for the increase in the forecast for July will be 25.3
Which of the following qualitative considerations may impact capital investment analysis? a.Manufacturing productivity b.Manufacturing flexibility c.Manufacturing control of product quality d.All of these choices are correct.
Answer:
What I think it's C if it's not I probably think it's gonna be D
The qualitative considerations that impact capital investment analysis are the manufacturing productivity, flexibility, and control of product quality. Option d is correct.
What is the capital investment analysis?Companies and government organizations utilize capital investment analysis as part of their budgeting process to determine the potential profitability of a long-term investment, called the capital investment analysis.
Long-term investments, such as equipment, machinery, or real estate, are evaluated using capital investment analysis.
There are certain qualitative considerations, that impact the capital investment analysis like the manufacturing productivity, flexibility, and control of product quality.
Therefore, option D is correct.
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XYZ Company operates on a remote interstate highway. It provides premium services to truckers en route to remote locations. It has numerous competitors that offer lower prices, but it meets the demands of discerning clients with its high-quality services. Therefore, XYZ Company can be characterized as a firm with a: a. narrow market appeal to a price-sensitive niche that demands quality, service, and value. b. broadly targeted scope and price points aimed for the masses. c. value proposition based on differentiation and a niche clientele that is willing to pay for added value. d. niche clientele and business model that meets the needs of truckers in general.
Answer:
c. value proposition based on differentiation and a niche clientele that is willing to pay for added value.
Explanation:
Since in the question it is mentioned that XYZ company provides the premium service also they have various number of competitors that offered the customer at less prices but at the same time this company meet the customer demand having the high quality service so here the value should be proportioned that depend upon on the differentiation also it would be pay for adding the value
Hence, the option c is correct
Coronado Industries has the following costs when producing 100000 units: Variable costs $600000 Fixed costs 900000 An outside supplier has offered to make the item at $4.50 a unit. If the decision is made to purchase the item outside, current production facilities could be leased to another company for $178000. The net increase (decrease) in the net income of accepting the supplier’s offer is
Answer:
Particulars Amount
Saving in variable costs $600,000
Add: Income from lease $178,000
Less: Purchase price (100000*$4.50) ($450,000)
Increase (Decrease) in net income $328,000
Thus, net income would increase by $628,000.
Finance
Walter and Gordon model analyse the impact of distribution of dividends on the valuation of the firm but the formula used in both the cases are different. Company
ABC Ltd wanted to evaluate the price of the share in both cases. The company earns ₹ 50 per share and expects the same for the next year. The cost of capital to the firm is 11%. The company earns return on investment of 15% and the firm 8is planning dividend payout ratio of 60%. Calculate:
a. Price of the share using Walter Model. Comment on the relationship between return on investment and cost of capital in the case above and decision of the firm whether dividend is to be declared or not.
b. Price of the share using Gordon model. Comment on the relationship between return on investment and cost of capital in the case above and decisionm
[2] R6 386,16.
[3] R1 930,43.
[4] R3 897,29.
[5] none of the above
Checking answer$1
Financial Math
Q198898
Deadline passed
Mr Mahlangu invests R20000 to play lobola. After 48 months he receives 65000. The interest on the investment is compounded quarterly. Determine the yearly interest rate at which money was invested. Give your answer as a percentage rounded to two decimal places.
Checking answer$1
Archive Tasks & Questions are stored in archive for 14 days
Biochemistry
Q198087
Deadline passed
11. Indicate which type of bonds are involved in the following
a. Formation of the primary structure of a protein
b. Stabilization of the alpha helix and beta pleated sheet structures of proteins
12.Identify the biomolecular composition of the following cells
a.Endoplasmic reticulum
b.Mitochondria
c.Cytoskeleton
d. Nucleus
13 Under aerobic catabolism of glucose ,in which compartment of the eukaryotic cell does the following reaction occurs?
a conversion of pyruvate to acetyl CoA
b.conversion of succinyl -CoA to succinate
c.conversion ofNADH to ATP.
d.conversion of phosphologlycerate to phosphoenolpyruvate.
14. Briefly outline how ATP is generated from glucose in the absence of oxygen. What is the importance of this pathway?
15. Briefly explain the process by which excess dietary carbohydrates and lipids are stored in the human body
Answer approved2$1
Finance
Q199880
Deadline: 28.05.21, 18:48
Walter and Gordon model analyse the impact of distribution of dividends on the valuation of the firm but the formula used in both the cases are different. Company
ABC Ltd wanted to evaluate the price of the share in both cases. The company earns ₹ 50 per share and expects the same for the next year. The cost of capital to the firm is 11%. The company earns return on investment of 15% and the firm is planning dividend payout ratio of 60%. Calculate:
a. Price of the share using Walter Model. Comment on the relationship between return on investment and cost of capital in the case above and decision of the firm whether dividend is to be declared or not.
b. Price of the share using Gordon model. Comment on the relationship between return on investment and cost of capital in the case above and decision of the firm whether
dividend is to be declared or not.
Answer:
An apple, potato, and onion all taste the same if you eat them with your nose plugged≡⇵∠⊅↓⇆°∞∴∴∵∵∵∴∴∵∵∴∴∵∴
∴∴≈↓∴↔∪∪∩⇄
Explanation:
Nash Company sold 10,800 Super-Spreaders on December 31, 2020, at a total price of $1,015,200, with a warranty guarantee that the product was free of any defects. The cost of the spreaders sold is $561,600. The assurance warranties extend for a 2-year period and are estimated to cost $43,400. Nash also sold extended warranties (service-type warranties) related to 2,100 spreaders for 2 years beyond the 2-year period for $12,600. Given this information, determine the amounts to report for the following at December 31, 2020: sales revenue, warranty expense, unearned warranty revenue, warranty liability, and cash.
Answer:
Amount reported in Income
Particulars Amount
Sales revenue $1,015,200
Warranty expenses $43,400
Amount reported on balance sheet
Particulars Amount
Unearned service revenue $12,600
Cash ($1,015,200 + $12,600) $1,016,460
Warranty liability $43,400
The Nash equilibrium of this game is for Tying-the-Knot to set alow price and Bridezilla-No-More to set alow price. True or False: Both firms would be worse off if they cooperated and set a high price for their services, instead of using the Nash equilibrium. True False Suppose that the firms play this game indefinitely. Both firms agree to cooperate in order to maintain higher profits. To deter cheating, Tying-the-Knot announces that it will play a grim strategy. Given this strategy, what will happen if Bridezilla-No-More breaks the cooperative agreement in the first period
Answer:
Tying-the-Knot and Bridezilla-No-More
1. The Nash equilibrium of this game is for Tying-the-Knot to set a low price and Bridezilla-No-More to set a low price.
True
2. Both firms would be worse off if they cooperated and set a high price for their services, instead of using the Nash equilibrium.
False
3. Given Tying-the-Knot grim strategy, if Bridezilla-No-More breaks the cooperative agreement in the first period,
there will be a permanent breakdown in cooperation between the two firms.
Explanation:
Playing the grim trigger strategy, Tying-the-Knot cooperates with Bridezilla-No-More in the first round and in the subsequent rounds as long as Bridezilla-No-More does not defect from the agreement. Once Tying-the-Knot finds that Bridezilla-No-More has betrayed the agreement in the previous game, he will then defect forever. Both firms will then lose as they cannot cooperate to achieve higher profits.
Many restaurants do not take reservations. You simply arrive and wait your turn. If you arrive at 7:30 in the evening, you have at least an hour wait. Notwithstanding that fact, a few people arrive, speak quietly with the maître d’, hand him some money, and are promptly seated. At some restaurants that do take reservations, there is a month wait for a Saturday evening, three weeks for a Friday evening, two weeks for a Tuesday through Thursday, and virtually no wait for Sunday or Monday evening. How do you explain these events using demand and supply?
Kahn Performance Nutrition produces a protein shake that contains whey protein as one of its ingredients. The whey protein (materials) standards for each batch of protein shake produced are 12 pounds of whey protein at a standard cost of $3 per pound. During July, Kahn Performance Nutrition purchased and used 54,000 pounds of whey protein at a total of $170,000 to make a total of 4,300 batches of protein shake. What is the materials quantity variance for whey protein in July?
Answer:
The correct answer is "-$7200 (Unfavorable)".
Explanation:
Given:
Actual quantity,
= 54000 pounds
Standard price,
= $3 per pound
Standard quantity,
= [tex]4300\times 12[/tex]
= [tex]51600 \ pounds[/tex]
As we know,
⇒ [tex]Material \ quantity \ variance=(Standard \ quantity-Actual \ quantity)\times Standard \ price[/tex]By substituting the values, we get
⇒ [tex]=(51600-54000)\times 3[/tex]
⇒ [tex]=(-2400)\times 3[/tex]
⇒ [tex]=-7200 \ (Unfavorable)[/tex]
The current assets of Sheridan Company are $292400. The current liabilities are $116960. The current ratio expressed as a proportion is
The current ratio expressed as a proportion is 2.5
Explanation:
Given :
The current assets = $292400
The current liabilities are $116960.
To find :
The current ratio
Solution :
Current Ratio =
[tex]\sf{\dfrac{Current \: Assets }{Current \: Liabilities}}[/tex]
[tex]\sf{\implies{\dfrac{292400}{116960}}}[/tex]
[tex]\implies[/tex] 2.5
Therefore, The current ratio expressed as a proportion is 2.5
Lay Perfect Pillow Company sells specialty pillows and accessories to customers. Its fiscal year ends on December 31. The following transactions occurred in the current year:
Purchased $250,000 of new pillow inventory; paid $90,000 in cash and owed the rest on account.
Paid employees $180,300 in wages for work during the year; an additional $3,700 for the current year's wages will be paid in January of the next year.
Sold pillows to customers for $750,000; received $500,000 in cash and customers owed the rest on account. The cost of the pillow inventory to Lay Perfect Pillow was $485,000.
Paid $17,200 cash for utilities for the year.
Received $70,000 from customers as deposits on orders of new pillows to be sold to the customers in January of the next year.
Received a $19,130 utilities bill for December of the current year that will be paid in January of the next year.
Complete the following statements
Cash Basis Income Statement Accrual Basis Income Statement
Statement Statement
Revenues Revenues
Cash Sales Sales to Customers
Customer Deposits
Expenses Expenses
Inventory Purchase Cost of Sales
Wages Paid Wages expense
Utilities paid Utilities expense
Net Income Net Income
Answer and Explanation:
The preparation of the following statement is
Cash Basis Statement Accrual Basis Statement
Income Statement Income Statement
Revenues Revenues
Cash Sales $500,000 Sales to Customers $750,000
Customer Deposits $70,000
Total $570,000 Total $750,000
Expenses Expenses
Inventory Purchase $90,000 Cost of Sales $485,000
Wages Paid $180,300 Wages expense $184,000
Utilities paid $17,200 Utilities expense $19,130
Total $287,500 Total $688,130
Net Income $282,500 Net Income $61,870
For airlines that sell flights from New York City to Boston, Amtrak trains are primarily a __________ Group of answer choices Potential entrant Buyer Supplier Rival Substitute product
Answer: rival
Explanation:
For airlines that sell flights from New York City to Boston, Amtrak trains are primarily a rival.
A rival in a business environment simply refers to ones competitor. In this case, the companies are all in the same industry and competes against each other, seeks competitive advantage over one another and seeks to capture a bigger market.
Randall Company manufactures chocolate bars. The following were among Randall's manufacturing costs during the current year: Wages Machine operators $ 400,000 Selling and administrative personnel $ 85,000 Materials used Lubricant for oiling machinery $ 35,000 Cocoa, sugar, and other raw materials $ 350,000 Packaging materials $ 290,000 Randall's direct materials amounted to:
Answer:
1160.000
Explanation:
suma los gastos
The December 31, 2016 balance sheet of Jensen Company showed Equipment of $76,000 and Accumulated Depreciation of $18,000. On January 1, 2017, the company decided that the equipment hasa remaining useful life of 6 years with a $4,000 salvage value. Compute the depreciable cost of the equipment. Depreciable cost Compute the revised annual depreciation.
Revised annual depreciations
Answer:
A. $54,000
B. $9,000
Explanation:
A. Computation for the depreciable cost of the equipment
Book value, 1/1/17 $58,000
($76,000 – $18,000)
Less salvage value $4,000
Depreciable cost $54,000
($58,000-$4,000)
Therefore the depreciable cost of the equipment is $54,000
B. Computation for the revised annual depreciation
Revised annual depreciation = $54,000÷6 years
Revised annual depreciation = $9,000
Therefore the revised annual depreciation is $9,000
The following expenditures relating to plant assets were made by Adam Company during the first 2 months of 2020.
1. Paid $5,000 of accrued taxes at time plant site was acquired.
2. Paid $200 insurance to cover possible accident loss on new factory machinery while the machinery was in transit.
3. Paid $850 sales taxes on new delivery truck.
4. Paid $17,500 for parking lots and driveways on new plant site.
5. Paid $250 to have company name and advertising slogan painted on new delivery truck.
6. Paid $8,000 for installation of new factory machinery.
7. Paid $900 for one-year accident insurance policy on new delivery truck.
8. Paid $75 motor vehicle license fee on the new truck
Required:
a. Explain the application of the cost principle in determining the acquisition cost of plant assets.
b. List the numbers of the foregoing transactions, and opposite each indicate the account title to which each expenditure should be debited.
Explanation:
a.)
In terms of the cost principle, the cost of acquiring a plant asset involves all of the expenditures required to get this asset and also to get ready to serve it's purpose.
Cost is measurable by the cash amount paid for a transaction that has to do with money or the money equivalent paid when assets that are not cash are used as a means of payment.
the cash equivalent is the same as the fair market value of the assets that were given or received..
b )
the account title that expenditure should be debited
1. 5000 paid for land
2. 200 paid is for factory machine equipment
3. 850 paid for delivery truck is for equipment
4. 17500 paid for parking lot is for land improvement
5. 250 paid for companies name to be printed on truck is equipment
6. 8000 paid for installation is for equipment
7. 900 paid for insurance policy on truck is prepaid insurance
8. 75 paid as license fee is for license insurance
What is the purpose of using predetermined overhead rates: Variation in cost assignment due to short-term variations in volume can be prevented Delays in product costing can be avoided Variation in cost assignment due to seasonality can be prevented. All of the answers are correct.
Answer:
All of the answers are correct.
Explanation:
At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated
The purpose of using pretermined overhead rates are
Delays in product costing can be avoided
Variation in cost assignment due to seasonality can be prevented
Variation in cost assignment due to short-term variations in volume can be prevented
The Use of predetermined overhead rates serves all the above purposes
Hence, all answers are correct.