Answer:
-.34%
Explanation:
Calculation to determine capital asset pricing model,
Alpha=.13-[.06+1.30(.14-.06)]
Alpha=.13-[.06+1.30(.08)]
Alpha=.13-[.06+0.104]=
Alpha=.13-0.164
Alpha=-.34%
Therefore Within the context of the capital asset pricing model, is -.34%
Newport Corp. is considering the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $215,000. The equipment will have an initial cost of $977,000 and have a 6-year life. There is no salvage value for the equipment. If the hurdle rate is 8%, what is the approximate net present value? Ignore income taxes..
Answer:
NPV = $16,919
Explanation:
The Net Present value is the present value of cash inflow (cost savings ) from the project less the present value of initial cost.
NPV = Present value of cash inflow - Present value of cash outflow
PV = annual cash flow × (1-1+r^-n)/r
=215,000× (1- 1.08^-6)/0.08
=993919.1
NPV = 993,919.1-977,000= 16,919
NPV = $16,919
Liam works at an IT firm. He finds that the activities carried out by his team are very complex and struggles to complete his tasks on time. He learns that some of his team members are also facing the same issue. Even though there is clarity of the target among the team members, the team struggles to efficiently carry out its task. Which of the following should the team do in order to ensure the completion of the tasks?
It should change the output and retain the workforce.
It should use informal communication to carry out its tasks.
It should standardize the work activities through flowcharts.
It should conduct an in-house training program to bring employees up to speed.
Team-based organizational structures are usually organic and highly decentralized.
True
False
Answer:
It should conduct an in-house training program to bring employees up to speed.
true
Explanation:
An inhouse training would be appropriate to help team members overcome their struggles with the complexity of the tasks. the training would provide more clarification on the tasks to be carried out. this would have the effect of making the task look less complex. Even though there is clarity on the target, there is no clarity on the steps to take to reach the target. Thus, a training is needed.
Team-based organizational structures is when the employees of an organisation are divided into teams. these teams work separately but they work towards a common goal . The structure is usually decentralised. Decisions are made within teams instead of decisions been made by one central body.
Advantages of Team-based organizational structures
communication between employees are faster and more effectiveit increases teamwork Problems are resolved fasterDisadvantages of Team-based organizational structures
it might be difficult to identify employees with low performance as they might be able to hide behind their teamsCharacteristics of an organic organisation includes :
few levels of management,decentralized decision-making, a short chain of command.these are characteristics of a team based organisational structure
Suppose you can only invest in the stock markets of two countries: US and China. The US has an expected return of 5.0% and a standard deviation of 15.0%. China has an expected return of 7.0% and a standard deviation of 22.0%. The correlation between the returns in the two markets is 0.3. The risk-free rate is 3.0%. What is the maximum Sharpe ratio you can obtain (rounded to the nearest 0.001)
Answer:
The maximum Sharpe ratio you can obtain is 0.182.
Explanation:
Sharpe ratio = (Stock's expected return - Risk-free rate) / Standard Deviation …………… (1)
Therefore, we have:
Sharpe ratio of the US stock market = (5.0% - 3.0%) / 15.0% = 0.133
Sharpe ratio of China stock market = (7.0% - 3.0%) / 22.0% = 0.182
Since you can only invest in the stock markets of US and China, and the Sharpe ratio of China stock market of 0.182 is greater than the Sharpe ratio of the stock market of 0.133, this implies that the maximum Sharpe ratio you can obtain is 0.182.
present value of bonds payable; premium moss co. issued $740,000 of four-year, 12% bonds, with interest payable semiannually, at a market (effective) interest rate of 11%. determine the present value of the bonds payable, using the present value tables in exhibit 5 and exhibit 7. round to the nearest dollar. $fill in the blank 1
Answer:
ijiji
Explanation:
hug
Identify the statement below that is true regarding the Allowance for Doubtful Accounts account. Multiple Choice The account has a normal credit balance and is reported on the balance sheet. The account has a normal debit balance and is reported on the balance sheet. The account has a normal credit balance and is reported on the income statement. The account has a normal debit balance and is reported on the income statement.
Answer: The account has a normal credit balance and is reported on the balance sheet.
Explanation:
The allowance for doubtful accounts refers to the amount of account receivable that the company believes will not be paid by the customers. It is referred to as the bad debt reserve as well.
The allowance for doubtful accounts reduces the accounts receivable. It also has a normal credit balance and is reported on the balance sheet.
Kiley Corporation had these transactions during 2022. Classify transactions by type of activity.
a. Purchased a machine for $30,000, giving a long-term note in exchange.
b. Issued $50,000 par value common stock for cash.
c. Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
d. Declared and paid a cash dividend of $13,000.
e. Sold a long-term investment with a cost of $15,000 for $15,000 cash.
f. Collected $16,000 from sale of goods.
g. Paid $18,000 to suppliers.
Answer:
Cash flow from Operating Activities
f. Collected $16,000 from sale of goods.
g. Paid $18,000 to suppliers.
Cash flow from Investing Activities
e. Sold a long-term investment with a cost of $15,000 for $15,000 cash.
Cash flow from Financing Activities
b. Issued $50,000 par value common stock for cash.
d. Declared and paid a cash dividend of $13,000.
None-Cash Activity
a. Purchased a machine for $30,000, giving a long-term note in exchange.
c. Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000.
Explanation:
Operating Activities - Results from business daily trading operations with customers and suppliers.
Investing Activities - Results from purchases and sell of assets and investments
Financing Activities - Results from a company`s efforts in raising and repayment of capital
A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $105 (a $525 check recorded as $630), two outstanding checks totaling $830, a service charge of $20, a deposit in transit of $260, and interest revenue of $33. What is the adjusted book balance
Answer:
$5,275
Explanation:
Bank Reconciliation Statement
Balance as per Cash Book $4,600
Add check error $105
Add unpresented checks $830
Less Lodgments not yet credited ($260)
Balance as per Bank Statement $5,275
therefore,
The adjusted Cash book balance is $5,275
HELPPPPP please!!
Why is presentation so important to the success of a speech?
A.
Because it is rude not to dress well for a speech
B.
Because it conveys the character of the speaker
C.
Because it is important to appear professional at all times
D.
Because the words aren't important
Answer:
B
Explanation:
I'm taking public speaking in college now dress is important because it conveys the character of the speaker.
Think of a business concept that would be appropriate for each of the following:
1) a sole proprietorship
2) a corporation
3) a limited liability company
In your answer address the pros and cons of the business type (sole proprietorship, Corporation, LLC) and why you the believe the business concept you choose best suits that business type. You must list at least 3 pros and 3 cons for each business type.
Answer:
Sole Proprietorship: The business concept that would be suitable for this type of business would be a roadside Fruit Juice Processing business. This involves different blends of organic fruits being blended into one smooth syrup sometimes called a smoothie.This type of business is better registered under a Sole Proprietorship because, it is almost always carried out by those who are self-employed.
Pros:
It is easy to set up and has low operational and corporate costIt enjoys zero corporate business taxesthey are not required to submit annual filingsCons:
The liability is unlimited and unrestricted. This means if there is litigation against the business, the business owner if found culpable will have to defray all amounts due even with his or her personal assets if the business is unable to meet that obligationThis type of business structure will find it difficult to raise money due to the potential liability exposure Also the sole proprietor may be unable to take on business debt
2. A Limited Liability Corporation: The business concept that would be suitable for this type of entity is a Fast Food Franchise like Tastee Fried Chicken. This sort of business will involve processing chicken and other kinds of foods into wholesome dishes.
Suppose these selected condensed data are taken from recent balance sheets of Bob Evans Farms (in thousands).
2022 2021
Cash $13,200 $10,800
Accounts receivable 22,200 20,200
Inventory 31,600 30,700
Other current assets 12,200 11,909
Total current assets $79,200 $73,609
Total current liabilities $247,500 $311,100
Compute the current ratio for each year.
Answer:
this answer might be rong
Explanation:
it just might be rong
Kenseth Corp. has the following beginning-of-the-year present values for its projected benefit obligation and market-related values for its pension plan assets.
Projected Plan
Benefit Assets
Obligation Value
2013 $2,000,000 $1,900,000
2014 2,400,000 2,500,000
2015 2,950,000 2,600,000
2016 3,600,000 3,000,000
The average remaining service life per employee in 2013 and 2014 is 10 years and in 2015 and 2016 is 12 years. The net gain or loss that occurred during each year is as follows: 2013, $280,000 loss; 2014, $90,000 loss; 2015, $11,000 loss; and 2016, $25,000 gain.
Using the corridor approach, compute the amount of net gain or loss amortized and charged to pension expense in each of the four years, setting up an appropriate schedule.
Year
Minimum Amortization of Loss
2013 $
2014 $
2015 $
2016 $
Answer:
Year Minimum Amortization of Loss
2013 $0
2014 $3,000
2015 $ $6,000
2016 $1,000
Explanation:
Computation of the amount of net gain or loss amortized and charged to pension expense in each of the four years.
Corridor and Minimum Loss Amortization
Year 2013
Projected Benefit Obligation (a) $2,000,000
Plan Assets $1,900,000
10%Corridor 200,000
(10%×$2,000,000)
AccumulatedOCI (G/L) (a) $0
Minimum Amortization of loss $0
(a) As of the beginning of the year
Year 2014
Projected Benefit Obligation (a) $2,400,000
PlanAssets $2,500,000
10%Corridor 250,000
(10%×$2,500,000)
AccumulatedOCI (G/L) (a) $280,000
Minimum Amortization of loss $3,000 (b)
(b) ($280,000-$250,000)÷10 years
=$30,000÷10 years
=$3,000
Year 2015
Projected Benefit Obligation (a) $2,950,000
PlanAssets $2,600,000
10%Corridor 295,000
(10%×$2,950,000)
AccumulatedOCI (G/L) (a) $367,000(c)
Minimum Amortization of loss $6,000 (d)
(c) ($280,000-$3,000+$90,000)
=$367,000
(d) ($367,000-$295,000)÷12 years
=$72,000÷12 years
=$6,000
Year 2016
Projected Benefit Obligation (a) $3,600,000
PlanAssets $3,000,000
10%Corridor 360,000
(10%×$3,600,000)
AccumulatedOCI (G/L) (a) $372,000(e)
Minimum Amortization of loss $1,000 (f)
(e) $367,000-$6,000+$11,000
=$372,000
(f) ($372,000-$360,000)÷12 years
=$12,000 ÷12 years
=$1,000
Therefore the amount of net gain or loss amortized and charged to pension expense in each of the four years are:
Year Minimum Amortization of Loss
2013 $0
2014 $3,000
2015 $ $6,000
2016 $1,000
The Mountain Springs Water Company has two departments, Purifying and Bottling. The Bottling Department had 3,840 liters in beginning work in process inventory (30% complete). During the period 64,880 liters were completed. The ending work in process was 5,160 liters (70% completed). All inventories are costed by the first-in, first-out method. What is the total equivalent units for direct materials (using the FIFO method) if materials were added at the beginning of the process
Answer:
Total equivalent units of materials = 64,652
Explanation:
Equivalent units are useful to apportion cost between work in progress and completed units. They are notional whole units which represent incomplete work
Equivalent Units = Degree of work completed (%) × inventory units
Fully worked = 64,880- 3,840= 61,040
Items units workings Equivalent units
Opening inventory 3,840 3840× 70% = 2,688
Fully worked 61,040 61,040× 100 = 61,040
Closing WIP 5,160 5,160× 70% = 3,612
Total equivalent units of materials 64,652
Total equivalent units of materials =64,652
Lease or Sell Casper Company owns a equipment with a cost of $366,000 and accumulated depreciation of $53,200 that can be sold for $273,400, less a 3% sales commission. Alternatively, Casper Company can lease the equipment to another company for three years for a total of $285,200, at the end of which there is no residual value. In addition, the repair, insurance, and property tax expense that would be incurred by Casper Company on the equipment would total $15,100 over the three years.
Prepare a differential analysis on March 23 as to whether Casper Company should lease (Alternative 1) or sell (Alternative 2) the equipment. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
Answer:
The Company should sell the equipment (Alternative 2)
Explanation:
Preparation of a differential analysis on March 23 as to whether Casper Company should lease (Alternative 1) or sell (Alternative 2) the equipment.
DIFFERENTIAL ANALYSIS
Lease Equipment (Alt. 1) or Sell Equipment (Alt. 2) March 23, 2014
Lease Equipment (Alternative 1); Sell Equipment (Alternative 2) Differential Effect on Income (Alternative 2)
Revenues $285,200 $273,400 –$11,800
Costs –$15,100 –$8,202 $6,898
($273,400*3%=$8,202)
Income (Loss) $270,100 $265,198 $4,902
Based on the above Differential Analysis the Company should sell the equipment (Alternative 2) reason been that the company income will increase by $4,902 If the Equipment is sold out.
the total surface area of hemisphere is 4158sq then what is the circumference of the base
Answer:
C = 132 units
Explanation:
Given the following data;
TSA of hemisphere = 4158 sq units
To find the circumference of the base;
Mathematically, the total surface area of a hemisphere is given by the formula;
TSA of hemisphere = 3πr²
First of all, we would determine the radius of the hemisphere.
4158 = 3 * 22/7 * r²
Cross-multiplying, we have;
4158 * 7 = 3 * 22 * r²
29106 = 66r²
r² = 29106/66
r² = 441
Taking the square root of both sides, we have;
r = √441
r = 21 units
Next, we determine the circumference of the base using the same radius;
Circumference of circle, C = 2πr
C = 2 * 22/7 * 21
C = 924/7
C = 132 units
A company with 82,146 authorized shares of $5 par common stock issued 31,717 shares at $14 per share. Subsequently, the company declared a 2% stock dividend on a date when the market price was $26 a share. What is the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend
Answer:
$16,492.84
Explanation:
Calculation to determine the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend
Amount transferred to Paid-in capital accounts=(Common stock*Stock dividend declared percentage)*Market price
Let plug in the formula
Amount transferred to Paid-in capital accounts=(31,717 shares*2%)*$26 per share
Amount transferred to Paid-in capital accounts=634.34*$26 per share
Amount transferred to Paid-in capital accounts=$16,492.84
Therefore the amount transferred from the retained earnings account to paid-in capital accounts as a result of the stock dividend is $16,492.84
Allen Company used $71,000 of direct materials and incurred $37,000 of direct labor costs during the current year. Indirect labor amounted to $2,700, while indirect materials used totaled $1,600. Other operating costs pertaining to the factory included utilities of $3,100, maintenance of $4,500, supplies of $1,800, depreciation of $7,900, and property taxes of $2,600. There was no beginning or ending finished goods inventory, but work in process inventory began the year with a $5,500 balance and ended the year with a $7,500 balance. Prepare a statement of cost of goods manufactured. Allen Company Statement of Cost of Goods Manufactured For the Year Ended December 31
Allen Company Statement of Cost of Goods ManufacturedFor the Year Ended December 31
Prepare a statement of cost of goods manufactured.
Allen Company
Statement of Cost of Goods Manufactured
For the Year Ended December 31
Beginning work in process inventory
Direct materials
Direct labor
Factory overhead
Indirect labor
Indirect materials
Total manufacturing costs incurred
Total manufacturing costs
Cost of goods manufactured
Answer:
$130,200
Explanation:
Allen Company
Statement of cost of goods manufactured
For year ended December 31
Opening work in progress inventory 5,500
Direct Materials 71,000
Direct Labour 37,000
Factory Overhead
Indirect Labour 2,700
Indirect Materials 1,600
Utilities 3,100
Maintenance 4,500
Supplies 1,800
Depreciation 7,900
Property Tax 2,600 24,200
Total manufacturing cost incurred 132,200
Total manufacturing cost 137,700
Less: Closing work in progress inventory 7,500
Cost of goods manufactured $130,200
Which of the following two ARMs is likely to be priced higher, that is, offered with a higher initial interest rate?
a. ARM A has a margin of 3 percent and is tied to a three-year index with payments adjustable every two years; payments cannot increase by more than 10 percent from the preceding period; the term is 30 years.
b. ARM B has a margin of 3 percent and is tied to a one-year index with payments to be adjusted each year; payments cannot increase by more than 10 percent from the preceding period; the term is 30 years.
Answer: ARM A
Explanation:
The issuers of Adjustable-Rate Mortgage adjust its rate based on a certain index in the market, the purpose of which is to reflect the current cost being incurred by the issuer for loaning out money.
Both these mortgages are similar in everything except the index period. ARM A has a longer index period which means that it is expose to more forward rates and as the yield curve is generally upward trending(interest rates are higher in future), ARM A will be offered at a higher interest rate.
Identify the principle of internal control to each of the following cases. 1. Cash is locked in a safe overnight. select principle of internal control 2. Employees who receive shipments of goods do not have access to the accounting records for merchandise. select principle of internal control 3. Shipping documents are pre-numbered. select principle of internal control 4. The bookkeeper does not have physical custody of assets. select principle of internal control 5. Only the treasurer of the company can sign checks.
Answer:
1. Physical control
2. Segregation of duties
3. Pre-numbered documents
4. Segregation of duties
5. Establishment of responsibility
Explanation:
1. As this shows that someone locked cash in safe, so this will be physical control.
2. As this shows the division of duties among employees, so this will be segregation of duties.
3. As this shows documents are pre numbered so it comes under pre-numbered documents.
4. As this shows the division of duties for bookkeeper, so it comes under segregation of duties.
5. This shows the responsibility of any work on a person, so this will be establishment of responsibility.
Concord Corporation manufactures a product with a unit variable cost of $100 and a unit sales price of $181. Fixed manufacturing costs were $480000 when 10000 units were produced and sold. The company has a one-time opportunity to sell an additional 1000 units at $125 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:
a. Income would increase by $23000.
b. Income would increase by $125000.
c. Income would decrease by $23000.
d. Income would increase by $25000.
Answer:
d. Income would increase by $25000.
Explanation:
Concord Corporation received a special order to sell 1,000 units at $125 each.
Incremental Sales Revenue = 1,000 * $125
Incremental Sales Revenue = $125,000
Variable Cost per unit = $100
Fixed manufacturing cost = $480,000
To produce required additional units, there will be no change in fixed manufacturing costs. So, cost to produce additional units will change on account of variable manufacturing cost only.
Incremental Cost = $100 * 1,000
Incremental Cost = $100,000
Incremental Net Income = Incremental Sales Revenue - Incremental Cost
Incremental Net Income = $125,000 - $100,000
Incremental Net Income = $25,000
Lannister Manufacturing has a target debt-equity ratio of .95. Its cost of equity is 11 percent, and its cost of debt is 7 percent. If the tax rate is 24 percent, what is the company’s WACC? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
WACC= 5.6%
Explanation:
Weighted average cost of capital is the average cost of all of the long-term types of finance used by a company weighted according to the that amount of finance used in relation to the total pool of fund
WACC = (Wd×Kd) + (We×Ke)
After-tax cost of debt = Before tax cost of debt× (1-tax rate)
Kd-After-tax cost of debt
Ke-Cost of equity
Wd-Weight f debt
We-Weight of equity
After tax cost of debt = (1-T)× Before-tax yield on debt
= (1-0.24)× 7
=5.32
Cost of equity = 11%
WACC = (Wd×Kd) + (We×Ke)
We= 5%, Wd= 95%
WACC= (5.32× 95%) + (11%× 5%)
= 5.6%
WACC= 5.6%
Your firm needs a computerized machine tool lathe which costs $51,000 and requires $12,100 in maintenance for each year of its 3-year life. After three years, this machine will be replaced. The machine falls into the MACRS 3-year class life category. Assume a tax rate of 34 percent and a discount rate of 11 percent. If the lathe can be sold for $5,100 at the end of year 3, what is the after-tax salvage value
Answer:
$4,650.89
Explanation:
Year Depreciation rate Depreciation Book Value
(51000*Rate)
1 33.33% $16,998.30 $34,001.70
2 44.45% $22,669.50 $11,332.20
3 14.81% $7,553.10 $3,779.10
4 7.41% $3,779.10
100% $51,000
Sale Value $5,100
Book Value at end of 3 years $3,779.10
Net Gain on Sale $1,320.90
Tax On Gain = $1320.90*0.34
Tax On Gain = $449.11
After-tax salvage value = $5100 - $449.11
After-tax salvage value = $4,650.89
اقرأ الفقرة التالية واجب عن الأسئلة التي تليها .33
نفترض انك تقدمت بطلب من بنك البحرين الإسلامي لتمويل مشروعك الخاص والحصول على تمويل بقيمة
5400 دينار بحريني، حيث ستكون مدة التمويل 6 سنوات و بسعر فائدة وقدرها 8% سنوية بالإضافة الى
.مصاريف إدارية 65 دينار والتأمين على القرض 115 دينار
Enter your answer
* :قيمة الفائدة السنوية -1
.34
(2 Points)
Enter your answer
* :قيمة الفائدة الإجمالية -2
.35
)
(2 Points)
Answer:
الدينار البحريني، (بالإنجليزية: Bahraini dinar)، هو عملة البحرين.[1][2][3] يقسم الدينار إلى 1000 فلس. وهو مرتبط بالدولار الأمريكي.


البلد البحرينتاريخ الإصدار1965رمز العملةد.برمز الأيزو 4217BHDالمصرف المركزيمصرف البحرين المركزيموقع المصرف المركزيمصرف البحرين المركزيسعر الصرف2 دولار أمريكي (22 نوفمبر 2016)
2.65957446809 دولار أمريكي
10 روبية خليجية العملات المعدنية1⁄2, 5, 10, 25, 50, 100 (500 فلس)العملات الورقية1⁄2, 1, 5, 10, 20 د.ب.الموقع الرسميwww.cbb.gov.bhتعديل مصدري - تعديل 
يبلغ سعر صرف الدينار البحريني 2.6526 الدولار الأمريكي، أو 1 دولار يعادل 377 فلس.
Corporation was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $5 par common stock. During 2021, QWN had the following transactions relating to shareholders' equity:
Issued 10,400 shares of common stock at $5.80 per share.
Issued 19,600 shares of common stock at $9.30 per share.
Reported a net income of $106,000.
Paid dividends of $53,000.
Purchased 2,600 shares of treasury stock at $11.30 (part of the 19,600 shares issued at $9.30).
Required:
What is total shareholders' equity at the end of 2021?
Answer:
Total stochkholders' equity = $266,220
Explanation:
Total stockholders' equity
10,400 x $5.80 = $60,320
19,600 x $9.30 = $182,280
Net income (retained earnigns) = $106,000
Paid cash dividends = -$53,000
Purhcase of treasury stocks = -2,600 x $11.30 = -$29,380
Total stochkholders' equity = $266,220
Santorino Company produces two models of a component, Model K-3 and Model P-4. The unit contribution margin for Model K-3 is $6; the unit contribution margin for Model P-4 is $14. Each model must spend time on a special machine. The firm owns two machines that together provide 4,000 hours of machine time per year. Model K-3 requires 15 minutes of machine time; Model P-4 requires 30 minutes of machine time. What is the amount of machine time for model P-4 in terms of percent of a machine hour?
a. 50%
b. 25%
c. 30%
d. 20%
e. 10%
Answer:
a. 50%
Explanation:
Model P-4 requires 30 minutes of machine time.
A machine hour consists of 60 minutes
Calculating the machine time of Model P-4 in terms of percent of machine hour:
= (Model P-4 Machine time/Machine Hour)*100
= (30/60)*100
= 0.5 * 100
=50%
So, the percent of Model P-4 machine time in terms of a machine hour is 50%.
Thomlin Company forecasts that total overhead for the current year will be $11,742,000 with 164,000 total machine hours. Year to date, the actual overhead is $7,547,000 and the actual machine hours are 83,000 hours. The predetermined overhead rate based on machine hours is Round the factory overhead rate to the nearest dollar before multiplying by the number of hours. a.$46 per machine hour b.$141 per machine hour c.$91 per machine hour d.$72 per machine hour
Answer:
d.$72 per machine hour
Explanation:
Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity
therefore,
Predetermined overhead rate = $11,742,000 ÷ 164,000
= $71.598 or $72
The predetermined overhead rate based on machine hours is $72 per machine hour.
Maxim manufactures a hamster food product called Green Health. Maxim currently has 11,500 bags of Green Health on hand. The variable production costs per bag are $2.10 and total fixed costs are $13,000. The hamster food can be sold as it is for $10.00 per bag or be processed further into Premium Green and Green Deluxe at an additional cost. The additional processing will yield 11,500 bags of Premium Green and 3,300 bags of Green Deluxe, which can be sold for $9 and $7 per bag, respectively. Assuming Maxim further processes Green Health further into Premium Green and Green Deluxe, revenue from the two products would be:
Answer:
$126,600
Explanation:
Calculation to determine what the revenue from the two products would be:
Venue if processed further:
Premium Green (11,500 bags * $9 per bag) $ 103,500
Green Deluxe (3,300 bags * $7 per bag) $23,100
Total revenue if processed further $ 126,600
($103,500+$23,100)
Therefore Assuming Maxim further processes Green Health further into Premium Green and Green Deluxe, revenue from the two products would be:$126,600
On January 8, Quastrar, Inc. sent Hylian Company a letter offering to sell $10,000 in restaurant supplies. On January 18, Hylian mailed a letter to Quastrar accepting the offer. Quastrar received the acceptance letter on January 20. On January 17, Quastrar sent a letter revoking the offer. Hylavian received this letter on January 21. A contract between Quastrar and Hylavian: A. was not formed because the revocation was effective before the acceptance was sent. B. was not formed because the revocation was effective before the acceptance was received. C. was formed on January 18. D. was formed on January 20
Answer:
C. was formed on January 18
Explanation:
Since in the question it is mentioned that On Jan 8, Quastrar sent the letter for selling the restaurant supplies to Hylian company for $10,000. On Jan 17, Quastrar sent the revoking letter offer and the same would be received by Hylian on Jan 21. On Jan 18, Hylian mailed the letter regarding the acceptance to Quastrar and the same would be received by Quastrar on Jan 20.
So, the contract between them would be created on Jan 18 as the acceptance is sent on Jan 18 i.e. prior the revocation letter
5. Which of the following statements is false? A) The incentives come from owning stock in the company and from compensation that is sensitive to performance. B) The role of the corporate governance system is to mitigate the conflict of interest that results from the combination of ownership and control without unduly burdening managers with the risk of the firm. C) Punishment comes when a board fires a manager for poor performance or fraud, or when, upon failure of the board to act, shareholders or raiders launch control contests to replace the board and management. D) The corporate governance system attempts to align interests by providing incentives for taking the right action and punishments for taking the wrong action. E) None of the above
Answer: B) The role of the corporate governance system is to mitigate the conflict of interest that results from the combination of ownership and control without unduly burdening managers with the risk of the firm.
Explanation:
Corporate governance has to do with the combination of laws, rules, and processes through which businesses are being operated, regulated. Corporate governance comprises of both the internal factors and the external factors which has an impact on the interests of the stakeholders in the company.
From the options given, the option that is false is B. It should be noted that the role of corporate governance system isn't about mitigating conflict of interest which arises from the combination of ownership and control.
Accounts Debits Credits
Cash $ 17,000
Accounts Receivable 7,400
Supplies 3,400
Equipment 12,000
Accumulated Depreciation $ 3,800
Salaries Payable 5,800
Common Stock 22,000
Retained Earnings 8,200
Totals $ 39,800 $ 39,800
The following is a summary of the transactions for the year:
1. March 12 Provide services to customers, $54,000, of which $20,400 is on account.
2. May 2 Collect on accounts receivable, $17,400.
3. June 30 Issue shares of common stock in exchange for $6,000 cash.
4. August 1 Pay salaries of $5,800 from 2020 (prior year).
5. September 25 Pay repairs and maintenance expenses, $12,400.
6. October 19 Purchase equipment for $7,400 cash.
7. December 30 Pay $1,100 cash dividends to stockholders.
The following information is available for the adjusting entries.
Accrued salaries at year-end amounted to $20,700.
Depreciation for the year on the equipment is $4,400.
Office supplies remaining on hand at the end of the year equal $1,200.
a. Prepare an unadjusted trial balance(Please write out).
b. Prepare an adjusted trial balance(Please write out).
3. Prepare the income statement for the year ended December 31, 2021 (Please Write out).
4. Prepare a post-closing trial balance.
Answer:
a. Unadjusted Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 3,400
Equipment 19,400
Accumulated Depreciation $ 3,800
Salaries Payable
Common Stock 28,000
Retained Earnings 8,200
Dividend 1,100
Service revenue 54,000
Repairs and
maintenance exp $12,400
Totals $ 94,000 $ 94,000
b. Adjusted Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 1,200
Equipment 19,400
Accumulated Depreciation $ 8,200
Salaries Payable 20,700
Common Stock 28,000
Retained Earnings 8,200
Dividend 1,100
Service revenue 54,000
Repairs and
maintenance exp 12,400
Salaries expense 20,700
Depreciation Exp 4,400
Office supplies exp 2,200
Totals $119,100 $ 119,100
3. Income Statement for the year ended December 31, 2021
Service revenue 54,000
Repairs and
maintenance exp 12,400
Salaries expense 20,700
Depreciation Exp 4,400
Office supplies exp 2,200 39,700
Net income $14,300
4. Post-closing Trial Balance
Accounts Debits Credits
Cash $ 47,300
Accounts Receivable 10,400
Supplies 1,200
Equipment 19,400
Accumulated Depreciation $ 8,200
Salaries Payable 20,700
Common Stock 28,000
Retained Earnings 21,400
Totals $78,300 $78,300
Explanation:
a) Data and Calculations:
Accounts Debits Credits
Cash $ 17,000
Accounts Receivable 7,400
Supplies 3,400
Equipment 12,000
Accumulated Depreciation $ 3,800
Salaries Payable 5,800
Common Stock 22,000
Retained Earnings 8,200
Totals $ 39,800 $ 39,800
1. March 12 Accounts receivable $20,400 Cash $33,600 Service revenue $54,000
2. May 2 Cash $17,400 Accounts receivable $17,400
3. June 30 Cash $6,000 Common stock $6,000
4. August 1 Salaries Payable $5,800 Cash $5,800
5. September 25 Repairs and maintenance expenses, $12,400 Cash $12,400
6. October 19 Equipment $7,400 Cash $7,400
7. December 30 Cash dividends $1,100 Cash $1,100
Adjusting entries:
Salaries expense $20,700 Salaries payable $20,700
Depreciation Expense $4,400 Accumulated Depreciation $4,400
Office supplies expenses $2,200 Supplies $2,200
Qu. 10-150 (Algo) Majer Corporation makes a product with ... Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost Per Unit Direct materials 6.4 ounces $ 2.00 per ounce $ 12.80 Direct labor 0.5 hours $ 15.00 per hour $ 7.50 Variable overhead 0.5 hours $ 2.00 per hour $ 1.00 The company reported the following results concerning this product in February. Originally budgeted output 5,100 units Actual output 6,000 units Raw materials used in production 33,400 ounces Actual direct labor-hours 1,860 hours Purchases of raw materials 35,800 ounces Actual price of raw materials $ 47.10 per ounce Actual direct labor rate $ 37.60 per hour Actual variable overhead rate $ 5.60 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials quantity variance for February is:
Answer:
Direct material quantity variance= $10,000 favorable
Explanation:
Giving the following information:
Standard Direct materials 6.4 ounces $ 2.00 per ounce.
Actual output 6,000 units
Raw materials used in production 33,400 ounces
To calculate the direct material quantity variance, we need to use the following formula:
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (6.4*6,000 - 33,400)*2
Direct material quantity variance= (38,400 - 33,400)*2
Direct material quantity variance= $10,000 favorable