Answer:
The unfinished jobs are "$52,350".
Explanation:
The given values are:
Work in process balance,
= $17,890
Direct material,
= $145,450
Direct labor,
= $156,900
Factory overhead,
= $82,470
The four finished jobs are:
Job 210,
= $72,490
Job 216,
= 44,300
Job 224,
= 84,570
Job 230,
= 149,000
Now,
According to the total of all four finished jobs:
The Journal entry will be:
Debit Credit
(a) Finished goods $350,360
Work in progress $
(b)
The unfinished jobs on January 31st will be:
= Work in progress opening balance + Direct material + Direct labor + Factory overhead - finished goods
On substituting the values, we get
= [tex]17,890+ 145,450+156,900+82,470-350,360[/tex]
= [tex]52,350[/tex] ($)
d Discuss whether or not an increase in income will cause an increase in spending. (8)
You need to discuss the question with 2 points for and 2 points against the argument
Answer:
It depends on the individual.
Explanation:
Increase income will leads to increase in spending because more money is available to spend on luxurious items. There are two types of people on the world. First are those who spends more with the increase of income, while on the other hand, the second type of people can save money when their income increases. So we can say that it depends on the type of people, if the people belongs to first type then we can say that income will cause an increase in spending.
debt financing definition
The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:
Sales $792,000
Gross profit $462,000
Cost of goods manufactured $396,000
Indirect labor $171,600
Factory deprecation $26,400
Materials purchased $244,200
Total manufacturing costs for the period $244,200
Materials inventory, ending $33,000
Using the information given, determine the following missing amounts:
Cost of goods sold
Finished goods inventory at the end of the month
Direct materials cost
Direct labor cost
Work in process inventory at the end of the month
Answer: See explanation
Explanation:
a. Cost of goods sold
This will be:
= Sales - Gross profit
= $792,000 - $462,000
= $330,000
b. Finished goods inventory at the end of the month.
This will be:
= Cost of goods manufactured - Cost of goods sold
= $396000 - $330000
= $66000
c. Direct materials cost
This will be:
= Materials purchased - Material inventory ending
= $244200 - $33000
= $211200
d. Direct labor cost
This will be:
= Manufacturing cost - Direct materials - Overhead
= $455400 - $211200 - $198000
= $46200
e. Work in process inventory at the end of the month
This will be:
= $455400 - $396000
= $59400
Note that:
Overhead cost= Indirect labor cost + Depreciation
= $171600 + $26400
= $298000
The Food Max grocery store sells three brands of milk in half-gallon cartons—its own brand, a local dairy brand, and a national brand. The profit from its own brand is $0.97 per carton, the profit from the local dairy brand is $0.83 per carton, and the profit from the national brand is SO.69 per carton. The total refrigerated shelf space allotted to half-gallon cartons of milk is 36 square feet per week. A half-gallon carton takes up 16 square inches of shelf space. The store manager knows
that each week Food Max always sells more of the national brand than of the local dairy brand and its own brand combined and at least three times as much of the national brand as its own brand. In addition, the local dairy can supply only 10 dozen cartons per week. The store manager wants to know how many half-gallon cartons of each brand to stock each week in order to maximize profit.
a. Formulate a linear programming model for this problem.
b. Solve this model by using the computer.
Answer:
O = amount of own brand
L = amount of local brand
N = amount of national brand
maximize = 0.97O + 0.83L + 0.69N
constraints:
space ⇒ O + L + N = 324
N ≥ O + L
N ≥ 3O
L ≤ 120
O,L,N ≥ 0
O,L,N are integers (whole numbers)
optimal solution using Solver = 540 + 108L + 162N
maximum profit = $253.80
Select from the option list provided the most likely classification(s) of net assets, if any, that are affected by each transaction of a not-for-profit entity. The entity reports the minimum required classes of net assets. Each choice may be used once, more than once, or not at all.
1. Legally restricted gains.
2. Expenses reported by functional classification.
3. Contributions of services that do not create or enhance nonfinancial assets or require special skills.
4. Costs of collection items not capitalized by the NFP.
5. Board-designated endowment.
6. Expenses reported by natural classification.
7. Conditional promise to give if the barrier has not been overcome.
8. Unconditional promises to give cash with amounts due in future periods.
9. Receipt of a gift restricted to acquisition of a long-lived asset that has been placed in service. The entity chooses to imply a time restriction over the life of the asset.
10. Investment return on a donor-restricted perpetual endowment fund with no donor restriction on the investment return, which has not been appropriated by the governing board.
11. Losses on an underwater endowment fund.
a. Net Assets without Donor Restrictions
b. Net Assets with Donor Restrictions
c. Net Assets without Donor Restrictions or Net Assets with Donor Restrictions
d. Temporarily Restricted Net Assets
e. Permanently Restricted Net Assets
f. No Effect on Net Assets
Answer:
1. Legally restricted gains
Classification: Net Assets without Donor Restrictions
2. Expenses reported by functional classification
Classification: Net Assets without Donor Restrictions
3. Contributions of services that do not create or enhance nonfinancial assets or require special skills
Classification: No Effect on Net Assets
4. Costs of collection items not capitalized by the NFP
Classification: No Effect on Net Assets
5. Board-designated endowment
Classification: Net Assets without Donor Restrictions
6. Expenses reported by natural classification
Classification: Net Assets without Donor Restrictions
7. Conditional promise to give if the barrier has not been overcome
Classification: No Effect on Net Assets
8. Unconditional promises to give cash with amounts due in future periods
Classification: Temporarily Restricted Net Assets
9. Receipt of a gift restricted to acquisition of a long-lived asset that has been placed in service. The entity chooses to imply a time restriction over the life of the asset
Classification: Net Assets with Donor Restrictions
10. Investment return on a donor-restricted perpetual endowment fund with no donor restriction on the investment return, which has not been appropriated by the governing board
Classification: Net Assets with Donor Restrictions
11. Losses on an underwater endowment fund
Classification: Net Assets with Donor Restrictions
An asset was sold during the year. The cost of the asset was $64,500. The asset was depreciated for four years, using the straight-line method at 10% per annum. The proceeds from the sale of this asset was $38,700. What was the gain or loss on the asset, if any?
Answer:
There was a loss on the asset of $3,618.45.
Explanation:
Given that an asset was sold during the year, and the cost of the asset was $ 64,500, after which the asset was depreciated for four years, using the straight-line method at 10% per annum, and finally the proceeds from the sale of this asset was $ 38,700, to determine what was the gain or loss on the asset, if any, the following calculation must be performed:
64,500 x 0.9 ^ 4 = X
42,318.45 = X
42,318.45 - 38,700 = X
3,618.45 = X
Thus, there was a loss on the asset of $ 3,618.45.
Answer:The company made no gain or loss on this sale
Explanation:
7 the follow table contains the demand from the last 10 months :
Explanation:
Month Actual Demand Month Actual Demand
1 31 6 36
2 34 7 38
3 33 8 40
4 35 9 40
5 37 10 41
Show Work and answer the following:
a.) calculate the single exponential smoothing forcast for these data using a of .30 and an initial forecast ( F1) of 31.
b.) calculate the exponential smooting with trend forecast for these data using an a of .30, & of .30, and an initial trend forecast ( T1) of 1, and an initil exponentailly smoothed forecast F1 of 30,
c.) calculate the mean absolute deviation (MAD0 for each forecast
Michigan State Figurine Inc. (MSF) sells crystal figurines to Spartan fans. MSF buys the figurines from a manufacturer for $10 per unit. They send orders electronically to the manufacturer, costing $20 per order and they experience an average lead time of 8 days for each order to arrive from the manufacturer. Their inventory carrying cost is 20%. The average daily demand for the figurines is 2 units per day. They are open for business 250 days a year. Answer the following questions:
Required:
a. How many units should the firm order each time? Assume there is no uncertainty at all about the demand or the lead time.
b. How many orders will it place in a year?
c. What is the average inventory?
d. What is the annual ordering cost?
e. What is the annual inventory carrying cost?
Answer:
Follows are the solution to the given points:
Explanation:
Given:
[tex]cost= \$10 / \ unit \\\\s= \$20 / \ order \\\\Lt= 8 / days \\\\H= 20 \% \ of \ cost \\\\[/tex]
[tex]= \frac{20}{100} \times 10\\\\= \frac{200}{100}\\\\= 2 \ \frac{unit}{year}[/tex]
[tex]d= 2 \ \frac{units}{day}\\\\n= 250 \ \frac{days}{year}\\\\D=d\times n \\\\[/tex]
[tex]=2 \times 250\\\\=500 \ \frac{units}{day}[/tex]
For point a:
[tex]\to EOQ=\sqrt{\frac{2DS}{H}}[/tex]
[tex]=\sqrt{\frac{ 2 \times 500 \times 20 }{2}} \\\\=\sqrt{500 \times 20}\\\\=\sqrt{1,000}\\\\=100 \ units[/tex]
For point b:
[tex]\to N=\frac{D}{Q} =\frac{500}{100} =5 \ orders[/tex]
For point c:
Calculating the average inventory:
[tex]\to \frac{Q}{2} =\frac{100}{2} =50 \ units[/tex]
For point d:
Calculating the annual ordering cost:
[tex]\to \frac{D}{Q} \times S\\\\[/tex]
[tex]=\frac{500}{100} \times 20\\\\ = 5\times 20 \\\\= \$100[/tex]
For point e:
Calculating the annual inventory carrying cost:
[tex]\to \frac{Q}{2} \times H =\frac{100}{2} \times 2=\$ 100[/tex]
2. When the price of good A rises, people start to drink good B. In this case, what is good B considered?
a. A luxury good
b. A complementary good
C. A substitute good
d. A normal good
American Surety and Fidelity buys and sells securities expecting to earn profits on short-term differences in price. For the first 11 months of 2021, gains from selling trading securities totaled $8 million, losses from selling trading securities were $11 million, and the company had earned $5 million in interest revenue. The following selected transactions relate to American's investments in trading securities and equity securities during December 2021, and the first week of 2022. The company's fiscal year ends on December 31. No trading securities or equity investments were held by American on December 1, 2021. Assume that the bonds are purchased at face value.
2018
Dec.
12 Purchased FF&G Corporation bonds for $12 million.
13 Purchased 2 million Ferry Intercommunications common shares for $22 million.
15 Sold the FF&G Corporation bonds for $12.1 million.
22 Purchased U.S. Treasury bills for $56 million and Treasury bonds for $65 million.
23 Sold half the Ferry Intercommunications common shares for $10 million.
26 Sold the U.S. Treasury bills for $57 million.
27 Sold the Treasury bonds for $63 million.
28 Received cash dividends of $200,000 from the Ferry Intercommunications common shares.
31 Recorded any necessary adjusting entry(s) and closing entries relating to the investments. The market price of the Ferry Intercommunications stock was $10 per share.
2019
Jan.
2 Sold the remaining Ferry Intercommunications common shares for $10.2 million.
5 Purchased Warehouse Designs Corporation bonds for $34 million.
Required:
a. Prepare the appropriate journal entry for each transaction or event during 2020.
b. Indicate any amounts that American would report in its 2020 balance sheet and income statement as a result of these investments.
c. Prepare the appropriate journal entry for each transaction or event during 2021.
Answer:
1. Amount in milions
Dec 12,2020
Dr Investment in FF&G Corporation bonds 12
Cr Cash 12
Dec 13,2020
Dr Investment in Ferry Intercommunications 22
Cr Cash 22
Dec 15,2020
Dr Cash 12.1
Cr Gain on sale of investment 0.1
Cr Investment in FF&G Corporation bonds 12
Dec 22,2020
Dr Investment in U.S. treasury bill 56
Dr Investment in U.S. treasury bonds 65
Cr Cash 121
Dec 23,2020
Dr Cash 10
Dr Loss on sale of investment 1
Cr Investment in Ferry Intercommunications common shares 11
Dec 26,2020
Dr Cash 57
Cr Gain on sale of investment 1
Cr Investment in U.S. treasury bill 56
Dec 27,2020
Dr Cash 63
Dr Loss on sale of investment 2
Cr Investment in U.S. treasury bonds 65
Dec 28,2020
Dr Cash 0.2
Cr Investment Revenue 0.2
Dec 31,2020
Dr Net unrealized holding gains and losses—I/S 1
Cr Fair value adjustment (Ferry Intercommunication) 1
Dec 31,2020
Dr Income summary 0.7
Dr Investment revenue 5.2
Dr Gain on sale of investment 9.1
Cr Loss on sale of investment 14
Cr Net unrealized holding gains and losses—I/S 1
2. BALANCE SHEET
Total $10
INCOME STATEMENT
Total Other Revenue $-1.7
3. 1/1/21
Dr Cash 10.2
Dr Loss on sale of investment 0.8
Cr Investment in Ferry Intercommunications 11
12/1/21
Dr Fair value adjustment (account balance) 1
Cr Net unrealized holding gains and losses—I/S 1
5/1/21
Dr Investment in Warehouse Designs bonds 34
Cr Cash 34
Explanation:.
1. Preparation of the appropriate journal entry for each transaction or event during 2020.
Amount in milions
Dec 12,2020
Dr Investment in FF&G Corporation bonds 12
Cr Cash 12
Dec 13,2020
Dr Investment in Ferry Intercommunications 22
Cr Cash 22
Dec 15,2020
Dr Cash 12.1
Cr Gain on sale of investment 0.1
(12.1-12)
Cr Investment in FF&G Corporation bonds 12
Dec 22,2020
Dr Investment in U.S. treasury bill 56
Dr Investment in U.S. treasury bonds 65
Cr Cash 121
(56+65)
Dec 23,2020
Dr Cash 10
Dr Loss on sale of investment 1
(11+10)
Cr Investment in Ferry Intercommunications common shares (1/2 x $22 million) 11
Dec 26,2020
Dr Cash 57
Cr Gain on sale of investment 1
(57-56)
Cr Investment in U.S. treasury bill 56
Dec 27,2020
Dr Cash 63
Dr Loss on sale of investment 2
(65-63)
Cr Investment in U.S. treasury bonds 65
Dec 28,2020
Dr Cash 0.2
Cr Investment Revenue 0.2
Dec 31,2020
Dr Net unrealized holding gains and losses—I/S 1
Cr Fair value adjustment (Ferry Intercommunication) 1
($10 million – [$22million × 1/2])
Dec 31,2020
Dr Income summary 0.7
Dr Investment revenue ($5 + 0.2 million) 5.2
Dr Gain on sale of investment ($8 + 0.1 + 1 million) 9.1
Cr Loss on sale of investment (11 + 1 +2) 14
Cr Net unrealized holding gains and losses—I/S 1
2. Calculation toIndicate any amounts that American would report in its 2021 balance sheet and income statement as a result of these investments.
BALANCE SHEET
Current Assets
Trading Securities ($22/2) 11
Less: Fair value adjustment -1
Total $10
($11-$1)
INCOME STATEMENT
Other Revenue (Expenses)
Investment revenue 5.2
Gain (Loss ) on investment):
Gain on sale of investment 1.1
Gain on sale of investment 8
Loss on sale of investment (11 + 1+2) -4
Loss on sale of investment -11
Net unrealized holding gains and losses—I/S -1
Net Loss on investments -6.9
Total Other Revenue (Expenses) -1.7
3. Preparation of the appropriate journal entry for each transaction or event during 2021.
Amount in millions
1/1/21
Dr Cash 10.2
Dr Loss on sale of investment 0.8
Cr Investment in Ferry Intercommunications (1/2 x $30 million) 11
12/1/21
Dr Fair value adjustment (account balance) 1
Cr Net unrealized holding gains and losses—I/S 1
5/1/21
Dr Investment in Warehouse Designs bonds 34
Cr Cash 34
Rovinsky Corporation, a company that produces and sells a single product, has provided its contribution format income statement for November.
Sales (6,900 units) $400,200
Variable expenses 262,200
Contribution margin 138,000
Fixed expenses 103,500
Net operating income $34,500
If the company sells 6,800 units, its net operating income should be closest to:________
a. $33,979
b. $32,500
c. $34,500
Answer:
b. $32,500
Explanation:
The computation of the net operating income is shown below:
Sales ($400,200 ÷ 6,900 × 6,800) $394,400
Less: variable expense ($262,200 ÷ 6,900 × 6,800) -$258,400
Contribution margin $136,000
less: fixed cost - $103,500
Net operating income $32,500
At December 31, 2017 Rice Company had 300,000 shares of common stock and 10,000 shares of 6%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2017 or 2018. On January 30, 2019, prior to the issuance of its financial statements for the year ended December 31, 2018, Rice declared a 100% stock dividend on its common stock. Net income for 2018 was $1,140,000. In its 2018 financial statements, Rice's 2018 earnings per common share should be
A. $1.80.
B. $1.89.
C. $3.60.
D. $3.80.
Answer:
A. $1.80
Explanation:
Earnings per share = (Net Income - Preferred dividend) / Weighted average outstanding common shares
Earnings per share = (1140000 - 10000*100*6%) / (300000 + 300000)
Earnings per share = $1.80 per share
So, Rice's 2018 earnings per common share should be $1.80 per share
Hassick Corporation produces and sells a single product whose contribution margin ratio is 63%. The company's monthly fixed expense is $460,530 and the company's monthly target profit is $19,000. The dollar sales to attain that target profit is closest to:
Answer:
the dollar sales to attain that target profit is $761,159
Explanation:
The computation of the dollar sales is shown below:
= (Fixed cost + target profit) ÷ (Contribution margin ratio)
= ($460,530 + $19,000) ÷ (0.63)
= $761,159
hence, the dollar sales to attain that target profit is $761,159
Choose the investments that would BEST foster economic growth
A)
investment in capital
B)
investment in technology
C)
investment in commodities
D)
investment in savings accounts
E)
investment in digital currency
Answer:is a & b
Explanation:
I just took the test
Vail Resorts, Inc., owns and operates 11 premier year-round ski resort properties (located in the Colorado Rocky Mountains, the Lake Tahoe area, the upper midwest, Vermont, and Australia). The company also owns a collection of luxury hotels, resorts, and lodging properties. The company sells lift tickets, ski lessons, and ski equipment. The following hypothetical December transactions are typical of those that occur at the resorts.
a. Borrowed $3,000,000 from the bank on December 1, signing a note payable due in six months.
b. Purchased a new snowplow for $90,000 cash on December 31.
c. Purchased ski equipment inventory for $37,000 on account to sell in the ski shops.
d. Incurred $59,000 in routine repairs expense for the chairlifts; paid cash.
e. Sold $368,000 of January through March season passes and received cash.
f. Sold a pair of skis from inventory in a ski shop to a customer for $570 on account. (The cost of the skis was $310). (Hint: Record two entries.)
g. Sold daily lift passes in December for a total of $273,000 in cash.
h. Received a $2,200 deposit on a townhouse to be rented for five days in January.
i. Paid half the charges incurred on account in (c).
j. Received $470 on account from the customer in (f).
k. Paid $263,000 in wages to employees for the month of December.
Required:
a. Prepare journal entries for each transaction. (Remember to check that debits equal credits and that the accounting equation is in balance after each transaction.)
b. Assume that ending balance in the Accounts Receivable account at the end of December based on transaction (A) through (K).
Solution :
Transaction The General Journal Debit Cash
1 a Cash 3,000,000
Notes payable 3,000,000
2 b Equipment 90,000
Cash 90,000
3 c Inventory 37,000
Accounts payable 37,000
4 d Repair expense 59,000
Cash 59,000
5 e Cash 368,000
Unearned pass revenue 368,000
6 f(1) Accounts receivable 570
Ski shop sales revenue 570
7 f(2) Cost of goods sold 310
Inventory 310
8 g Cash 273,000
Lift pass revenue 273,000
9 h cash 2,200
Unearned rent revenue 2,200
10 i Accounts Payable 18500
Cash (37,000/2) 18500
11 j Cash 470
Accounts receivable 470
12 k Salaries expense 263,000
Cash 263,000
The accounts receivable balance = 1000 + 570 - 310
= 1260
Which of the following is not barrier to entrepreneurship ; lack of technical skills, political instability, technical knowledge, time pressure and distraction
Answer:
Technical knowledge
Warren Industries uses a process-costing system for its single product, which is manufactured from Material X and Material Y. X and Y are introduced to the product as follows: Material X: Added at the beginning of manufacturing Material Y: Added at the 80% stage of completion The company started and completed 74,000 units during the period, and had an ending work-in-process inventory amounting to 17,000 units, 30% complete. Which of the following choices correctly expresses the total equivalent units of production for Material X and Material Y?Material X Material YA. 87,600 79,100 B. 87,600 87,600 C. 91,000 74,000 D. 91,000 79,100 E. 91,000 87,600
Answer:
C. 91,000 74,000
Explanation:
Calculation to determine the choices that correctly expresses the total equivalent units of production for Material X and Material Y
Calculation for Material X using this formula
Material X = Started and completed + Ending Work-in-process inventory
Let plug in the formula
Material X = 74,000 units + 17,000 units
Material X = 91,000 units
Therefore Material X will be 91,000 units
Calculation for Material Y
Based on the information given Material Y will be 74,000 units reason been that Y is added at the 80% point while the current point on the other hand is 30%.
Therefore Material Y will be 74,000 units.
money is what money does discuss
Answer:
Money is a concept which we all understand but which is difficult to define in exact terms. Money is anything serving as a medium of exchange. Most definitions of money take 'functions of money' as their starting point. 'Money is that which money does.
Money is what money does" is just a misnomer phrase
Money is legal tender and anything generally acceptable as medium of exchange.
Lilian has a degree in computer science and experience in connecting large networks together. What company might be interested in hiring Lilian
Answer:
network companies
Explanation:
since she can connect networks , and would be able to save software data on computers
Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400. The machine's useful life is estimated at 20 years, or 387,000 units of product, with a $4,000 salvage value. During its second year, the machine produces 32,700 units of product.
Required:
Determine the machine's second-year depreciation using the double-declining balance method.
Answer:
$7,326
Explanation:
Double Decline Balance = 2 x SLDP x SLDBV
where,
SLDP = Straight Line Depreciation Percentage
= 100 ÷ useful life
= 100 ÷ 20
= 5 %
and
SLDBV = Straight Line Percentage Book Value
Year 1
Double Decline Balance = 2 x 5% x $81,400
= $8,140
Year 2
Double Decline Balance = 2 x 5% x ($81,400 - $8,140)
= $7,326
Therefore
The machine's second-year depreciation using the double-declining balance method is $7,326.
If a business wants to open in a new country, when would it be the best time to do that on the Business Cycle? Why?
Answer:
they need to speak with community
consider the linear function Y = 1488 + 20x. the line would cross the y axis at the point ?
Answer:
1488
Explanation:
when you want to find the y value plug in 0 for x
y=1488+20(0)
PNB Industries has 20 million shares of common stock outstanding with a market price of $18.00 per share. The company also has outstanding preferred stock with a market value of $50 million, and 500,000 bonds outstanding, each with face value $1,000 and selling at 97% of par value. The cost of equity is 15%, the cost of preferred is 12%, and the cost of debt is 8.50%. If PNB's tax rate is 40%, what is the WACC?A. 7.05%B. 9.47%C. 11.31%D. 11.83%
Answer:
B. 9.47%
Explanation:
Common Stock = 20,000,000*$18 = $360,000,000, so 360,000,000/895,000,000 = 0.4022
Preferred Stock= $50,000,000, so 50,000,000/895,000,000 = 0.0559
Bonds = 500,000*0.97*1000 = $485,000,000, so 485,000,000/895,000,000 = 0.05419
WACC = 0.4022*15% + 0.0559*12% + 0.5419*8.5%* (1 - 0.4)
WACC = 0.06033 + 0.006708 + 0.0276369
WACC = 0.0946749
WACC = 9.47%
Cost-volume-profit analysis can also be used in making personal financial decisions. For example, the purchase of a new car is one of your biggest personal expenditures. It is important that you carefully analyze your options. Suppose that you are considering the purchase of a hybrid vehicle. Let’s assume the following facts. The hybrid will initially cost an additional $4,500 above the cost of a traditional vehicle. The hybrid will get 30 miles per gallon of gas, and the traditional car will get 20 miles per gallon. Also, assume that the cost of gas is $1.80 per gallon. Using the facts above, answer the following questions.
a. What is the variable gasoline cost of going one mile in the hybrid car?
b. What is the variable cost of going one mile in the traditional car?
Answer:
Results are below.
Explanation:
Giving the following information:
The hybrid will get 30 miles per gallon of gas, and the traditional car will get 20 miles per gallon. Also, assume that the cost of gas is $1.80 per gallon.
To calculate the unitary cost of one mile, we need to use the following formula:
One mile unitary cost= cost per gallon / mile sper gallon
Hybrid:
One mile unitary cost= 1.8 / 30
One mile unitary cost= $0.06
Traditional:
One mile unitary cost= 1.8 / 20
One mile unitary cost= $0.09
Calculate the unit product cost under absorption costing using the following information.
Direct materials: $50/unit
Direct labor: $75/Unit
Variable manufacturing overhead:$27/Unit
Fixed manufacturing overhead: $30,000
Units produced: 10,000
Units sold: 6,000
Answer:
See below
Explanation:
With regards to the above, the unit product cost is calculated as;
= Fixed manufacturing overhead / units produced
Given that;
Fixed manufacturing overhead = $30,000
Unit produced = 10,000
Then,
Units product cost under absorption costing ;
= $30,000 / 10,000
= $3 unit product cost under absorption costing
which layer of the atmosphere provide rainwater to the planet
Carol is interested in field engineering. What tasks would she have to perform as a field engineer?
Answer:
Field engineer duties usually include inspecting and installing equipment and new technologies, directing crews or workers on site, conducting research, and reporting on project status. Field engineers will make sure that everything works smoothly and engineering designs are being followed.
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Assume the following information for a company that produced 10,000 units and sold 9,000 units during its first year of operations:
Per Unit Per Year
Selling price $ 200
Direct materials $ 80
Direct labor $ 50
Variable manufacturing overhead $ 10
Sales commission $ 8
Fixed manufacturing overhead $ 295,000
Which of the following choices explains the relationship between the absorption costing net operating income and the variable costing net operating income?
A. The absorption costing net operating income will be lower than the variable costing net operating income by $29,500.
B. The absorption costing net operating income will be lower than the variable costing net operating income by $101,500.
C. The absorption costing net operating income will be higher than the variable costing net operating income by $29,500.
D. The absorption costing net operating income will be higher than the variable costing net operating income by $101,500.
Answer:
Absorption costing income is $29,500 higher than variable costing.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Absorption costing:
Unitary production cost= (80 + 50 + 10) + (295,000 / 10,000)= $169.5
Sales= 9,000*200= 1,800,000
COGS= 9,000*169.5= (1,525,500)
Gross profit= 274,500
Sales expense= (9,000*8)= (72,000)
Net income= $202,500
Variable costing:
Unitary production cost= 140
Sales= 1,800,000
Total variable cost= (140 + 8)*9,000= (1,332,000)
Total contribution margin= 468,000
Fixed manufacturing overhead= (295,000)
Net operating income= $173,000
Difference= 202,500 - 173,000= $29,500
Absorption costing income is $29,500 higher than variable costing.
Victorinox is the name of the company that manufactures Swiss army knives. The _____ channel the company utilizes to get its knives to market is to wholesalers, than to retailers, and finally to consumers.
promotional
service
consumer
industrial
distribution
Answer:
Explanation:
Distribution channel is how you products to consumers.
The distribution channel the company utilizes to get its knives to market is to wholesalers, then to retailers, and finally to consumers. Thus the correct option is E.
What is a Distribution channel?A distribution channel is referred to as a pathway followed to deliver the goods to final consumers. These channels are associated with different levels based on the demands of the goods in the market.
The wholesaler buys large quantities of products from the manufacturer and resells them to retailers in smaller quantities. The vital work that wholesalers do is essential to the efficient exchange of information, ownership, and commodities.
Retail refers to the practice of purchasers purchasing goods and selling them directly to consumers, as opposed to suppliers or wholesalers. Between wholesalers and customers, retailers act as a middleman.
Therefore, option E is appropriate.
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Gabrielle just won $2.5 million in the state lottery. She is given the option of receiving a total of $1.3 million now, or she can elect to be paid $100, 000 at the end of each of the next25 years. If Gabrielle can earn 5% annually on her investments, from a strict economic point of view which option should she take?
Answer:
He should take annuity ahead of lump sum
Explanation:
Given that :
One time lump sum payment = 1,300,000
r = 5%
Period, t = 25 years
Cash flow, C= 100000v
A = C[1 - (1 + r)^-t] ÷ r
Hence,
100000×(1−(1.05)^−25)÷0.05
100000 * (1 - 0.2953027) ÷ 0.05
70469.722 / 0.05
= 1409394.4
The present value of the annuity is
$1,409,394.4
Annuity payment is greater Than lump sum
Gabriella will earn better if she chooses the option of annuity as it will give her better returns on her investment in comparison to a lump sum.
What is annuity?An annuity is a series of payments made at regular intervals. Examples of annuities are common deposits in a savings account, monthly mortgage payments, monthly insurance payments, and pension payments.
Formula:
[tex]\rm\,PV = P\times\,\dfrac{1 - (1+r)^{-n}}{r}\\[/tex]
We can calculate the present value of annuity by the information given:
[tex]\rm\,Lump\,sump\,amount = \$1,300,000\\Value\,of\,payment = \$100,000\\\\r= 5\%\\\\Period\,n= 25\,years\\\\\rm\,PV = 100,000\times\,\dfrac{1 - (1+0.05)^{-25}}{0.05}\\\\\rm\,PV = 100,000\times\,\dfrac{(1 - 0.2953027 )}{0.05}\\\\\rm\,PV = \dfrac{70,469.722}{0.05}\\\\= \$\,1,409,394.4[/tex]
The value of present value of the annuity is equal to $1,409,394.4
Hence, the present value of the annuity is greater than lumpsum amount. Gabriella should choose the option of annuity over lumpsum amount.
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