Answer:
1. Indication of the appropriate account titles:
a. Cash ($12,000) is received, Common Stock ($12,000) is given.
b. Truck ($18,000) is received, Cash )$18,000) is given.
c. Dividend ($10,000) is incurred, Cash ($10,000) is given.
d. Land ($50,000) is received, Cash ($50,000) is given.
e. Dividend ($1,100) is incurred, Dividend Payable ($1,100) will be given.
f. Wages ($5,600) are incurred, Wages Payable ($5,600) will be given.
2. Truck will be record at $18,000.
b. Land in d will be recorded at $50,000.
The measurement principle being applied is the cost basis.
3. The accrual concept is applied for 'c.'
The accrual concept is applied for 'f' also.
Explanation:
Purchased assets are recognized at cost. This is the amount paid for the acquisition of the asset. The value of the asset may vary after the initial recognition. This is when the fair value of the asset is considered. The purpose is to recognize assets at the values they be sold or bought in the market.
Miguel Alvarez in the accounting department at Baumer Company has provided the following information:
Cost per Unit Cost per Period
Direct materials $6.25
Direct labor $3.20
Variable manufacturing overhead $1.20
Fixed manufacturing overhead $13,200
Sales commissions $1.20
Variable administrative expense $0.50
Fixed selling and administrative expense $3,300
The incremental manufacturing cost that the company will incur if it increases production from 5,500 to 5,501 units is closest to:_____
The incremental manufacturing cost that the company will incur if it increases production from 5,500 to 5,501 units is closest to $10.65.
Here, the fixed cost would not be relevant for the computation.
Incremental manufacturing cost when production level changed is
= Direct material cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit
= $6.25 + $3.20 + $1.20
= $10.65
In conclusion, the incremental manufacturing cost that the company will incur if it increases production from 5,500 to 5,501 units is closest to $10.65.
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Reynolds Manufacturers Inc. has estimated total factory overhead costs of $134,200 and expected direct labor hours of 12,200 for the current fiscal year. If Job 117 incurs 1,030 direct labor hours, Work in Process will be debited and Factory Overhead will be credited for a.$1,030 b.$134,200 c.$11,330 d.$67,100
Answer:
c. 11,330
Explanation:
With regards to the above, we need to compute first, predetermined overhead rate allocation
= Estimated aggregate overhead / Estimated number of labor hours
= $134,200 / 12,200
= $11 per hour
The overhead cost to be allocated to job no 117 will be;
= Number of direct labor hours × predetermined rate of overhead
= 1,030 × $11
= $11,330
Unearned revenues refer to a(n): Group of answer choices Asset that will be used over time. Expense incurred because a customer has paid in advance. Liability that is settled in the future when a company delivers its products or services. Increase in revenues as a result of delivering products or services to a customer. Decrease in an asset.
Answer:
Liability that is settled in the future when a company delivers its products or services.
Explanation:
Unearned revenue is money received for a service that is yet to be provided or a product that is yet to be delivered.
Unearned revenue is recorded as a liability on the balance sheet. The reason for this is because unearned revenue represents debts owed.
Once the service is rendered, the unearned revenue is recorded on the income statement as a revenue.
Example of unearned revenue : a company offers a one year subscription to consumers. The company is earning revenue for services that is yet to be rendered
including scholarships and financial aid Rachel has 39,000 to spend on college if the total cost of her college education is_____, she will have enough resources to pay
a 36,000
b 42,000
c 48,000
d 45,000
Answer:
A. 36,000
Explanation:
If the college education cost is less than your financial aid limit then it can pay for it.
Answer:36,000
Explanation:because it say it
Paying higher wages encourages workers to be more productive. Higher wages cause workers to shirk more of their responsibilities. Paying higher wages enhances workers to adopt healthier lifestyles, enhancing their productivity. Paying higher wages tends to reduce the average experience level of a firm's workers.
Answer:
The answer is "Choice First and third"
Explanation:
Please find the complete question in the attached file.
The higher wages will improve the productivity of workers in various ways, that are salary with the number of workers exceeds the cost of labor, in the fewer countries. It can be associated with both the poor diet and over-market wages in these environments can enable the workers of the company to remain fit and efficient. The fewer employees may decide to seek other employment opportunities when a business pays salaries just above the current market price. This elimination of employee sales will minimize company training costs because new employees need to be trained.
What is the difference between feedback and coaching?
Answer:
Coaching is about assisting employees reach their goals for the future. Feedback is about helping employees understand what prevents them from reaching their current goals.
Explanation:
Reamer Company uses a predetermined overhead rate based on machine hours to apply manufacturing overhead to jobs. The company has provided the following estimated costs for the next year: Direct materials - $1000, Direct labor - $3000, Sales commissions - $4000, Salary of production supervisor - $2000, Indirect materials - $400, Advertising expense - $800, Rent on factory equipment - $1000. Reamer estimates that 500 direct labor hours and 1000 machine hours will be worked during the year. The predetermined overhead rate per hour will be:__________
A. $6.80
B. $6.00
C. $3.00
D. $3.40
Answer:
D. $3.40
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate is
= Estimated manufacturing overhead ÷ estimated machine hours
= ($2,000 + $400 + $1,000) ÷ (1,000 machine hours)
= $3,400 ÷ $1,000 machine hours
= $3.40 per hour
1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $28,000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining-balance depreciation.
Answer:
1. a. Allocated prices
First add the market values = 444,150 + 255,150 + 56,700 + 189,000 = $945,0
00
Building allocated price Land allocated price
= 444,150/ 945,000 * 830,000 = 255,150/945,000 * 830,000
= $390,100 = $224,100
Land improvement allocated price Four vehicles allocate price
= 56,700/945,000 * 830,000 = 189,000/945,000 * 830,000
= $49,800 = $166,000
b. Journal entry
Date Account Details Debit Credit
Jan. 1, 2017 Building $390,100
Land $224,100
Land improvement $49,800
Vehicles $166,000
Cash $830,000
2. Depreciation on building using straight-line method.
= (390,100 - 28,000) / 15
= $24,140
3. Depreciation on land improvements using double declining method.
First do straight line:
= 49,800/ 5 years
= $9,960
Straight line rate of depreciation = 9,960/49,800 = 20%
Double declining will be twice that rate = 40%
Depreciation = 40% * 49,800
= $19,920
You buy a share of The Ludwig Corporation stock for $19.20. You expect it to pay dividends of $1.11, $1.1833, and $1.2614 in Years 1, 2, and 3, respectively, and you expect to sell it at a price of $23.26 at the end of 3 years. Calculate the growth rate in dividends. Round your answer to two decimal places. % Calculate the expected dividend yield. Round your answer to two decimal places. % Assuming that the calculated growth rate is expected to continue, you can add the dividend yield to the expected growth rate to obtain the expected total rate of return. What is this stock's expected total rate of return (assume market is in equilibrium with the required rate of return equal to the expected return)
Answer:
P0 = $19.20
D1 = $1.11
D2 = $1.1833
D3 = $1.2614
P3 = $23.26
a. Dividend growth rate = (1.2614-1.1833)/1.1833 = 0.0781/1.1833 = 0.06600186 = 6.60%
b. Expected Dividend Yield=(Expected Dividend/Price)*100 = $1.11/$19.20 = 0.0578125 = 5.78%
c. Total Rate of Return = 6.60% + 5.78% = 12.38%
Although GDP is a reasonably good measure of a nation's output, it does not necessarily include all transactions and production for that nation. Which of the following scenarios are either not accounted for or measured inaccurately by either the income or the expenditure methods of calculating GDP for the United States?
a. The costs of overfishing and other overly intensive uses of resources
b. Federal government paychecks to soldiers
c. The value Of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
d. The variety of goods available to consumers
When a U.S. company purchases and imports wood from Brazil to use to build new houses within the United States, this purchase increases the ________ component of GDP while also ____________ net exports by the same amount. Therefore, the purchase of wood from Brazil causes_________ in US GDP.
Answer:
a, c , d
investment
decreasing
no effect
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. Externalities
Investment spending by businesses includes purchases made by businesses. So, investment spending increases. Net export decreases because import is a negative function of GDP. The increase and decrease cancel each other out and there would be no change in GDP
A motive is always required for the suspect to be criminally liable
Four different corporations, Amber, Blue, Coral, and Daffodil, show the same balance sheet data at at the beginning and end of a year. These data, exclusive of the amount of stockholders' equity, arere summarized as follows:
Total Assets Total Liabilities
Beginning of the year $1,220,000 $990,000
End of the year 1,730,000 1,150,000
On the basis of the preceding data and the following additional information for the year, determine the net income (or loss) of each company for the year. (First determine the amount of increase or decrease in stockholders' equity during the year).
Amber: No additional common stock was issued and no dividends were paid.
Blue: No additional common stock was issued, but dividends of $60,000 were paid.
Coral: Additional common stock of $140,000 was issued, but no dividends were paid.
Daffodil: Additional common stock of $140,000 was issued and dividends of $60,000 were paid.
Answer:
Amber
Change in stockholders' equity = $580,000 - $230,000 = $350,000
No additional shares issued, so net income = $350,000
Blue
Change in stockholders' equity = $580,000 - $230,000 = $350,000
No additional shares issued, but dividends paid for $60,000, so net income = $410,000
Coral
Change in stockholders' equity = $580,000 - $230,000 = $350,000
Additional shares issued for $140,000, so net income = $210,000
Daffodil
Change in stockholders' equity = $580,000 - $230,000 = $350,000
Additional shares issued for $140,000, dividends paid for $60,000, so net income = $270,000
_____ is a method of attempting to settle labor disputes in when a specialist from the federal government helps management and the union focus on the issues and acts as a communication channel through which management and the union can send messages and share information with each other.
Answer: e. Conciliation
Explanation:
This process is known as Conciliation and it falls under the purview of the Federal Mediation and Conciliation Service of the United States.
Conciliation stands out from Mediation because with mediation, the third party that is helping both sides negotiate might not be trained but with Conciliation, the third part is a specialist in the process and thus will be more effective in dealing with the dispute.
Following are the transactions of a new company called Pose-for-Pics. Aug. 1 Madison Harris, the owner, invested $7,400 cash and $34,400 of photography equipment in the company in exchange for common stock. 2 The company paid $3,000 cash for an insurance policy covering the next 24 months. 5 The company purchased office supplies for $970 cash. 20 The company received $4,231 cash in photography fees earned. 31 The company paid $765 cash for August utilities. Required: 1. Post the transactions to the T-accounts. 2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics.
Answer:
Pose-for-Pics
1. T-accounts:
Cash
Date Account Title Debit Credit
Aug. 1 Common stock $7,400
Aug. 2 Prepaid insurance $3,000
Aug. 5 Office supplies 970
Aug. 20 Photography Fees 4,231
Aug. 31 Utilities 765
Aug. 31 Balance $6,896
Common Stock
Date Account Title Debit Credit
Aug. 1 Cash $7,400
Aug. 1 Photography equipment 34,400
Aug. 31 Balance $41,800
Photography Equipment
Date Account Title Debit Credit
Aug. 1 Common stock $34,400
Prepaid Insurance
Date Account Title Debit Credit
Aug. 1 Cash $3,000
Office Supplies
Date Account Title Debit Credit
Aug. 1 Cash $970
Photography Fees
Date Account Title Debit Credit
Aug. 20 Cash $4,231
Utilities Expense
Date Account Title Debit Credit
Aug. 31 Cash $765
2. Trial Balance
As of August 31
Account Title Debit Credit
Cash $6,896
Common stock $41,800
Equipment 34,400
Prepaid insurance 3,000
Office supplies 970
Photography fees 4,231
Utilities expense 765
Totals $46,031 $46,031
Explanation:
Before transactions are posted to the T-accounts (General Ledger) they are recorded in the General Journal. The T-accounts summarize the transactions into various ledger accounts. Periodically, the accounts are balanced and a trial balance is extracted to check if the posting is error-free.
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used 6 workers, who together produced an average of 100 carts per hour. Workers receive $11 per hour, and machine cost was $40 per hour. With the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $12 per hour, while output increased by 4 carts per hour. a. Compute labor productivity under each system. Use carts per worker per hour as the measure of labor productivity. (Round your answers to 3 decimal places.)
Answer:
A. Labor productivity before=16 cart per workers-hour
Labor productivity After=26 cart per workers-hour
B. Multifactor productivity Before=0.94 carts per hour
Multifactor productivity before=0.94 carts per hour
Explanation:
A. Computation of labor productivity under each system
Labor productivity Before=100 carts per hour/6 workers
Labor productivity Before=16 cart per workers-hour
Labor productivity After=(100 carts per hour+4 carts per hour)/4 workers
Labor productivity After=(104carts per hour /4 workers
Labor productivity After=26 cart per workers-hour
B. Computation of the multifactor productivity under each system.
Multifactor productivity Before=100 carts per hour/(6 workers*$11 per hour)+$40 per hour
Multifactor productivity Before=100 carts per hour/($66 per hour+$40 per hour)
Multifactor productivity Before=100 carts per hour/$106 per hour
Multifactor productivity Before=0.94 carts per hour
Multifactor productivity before=(100carts per hour + 4carts per hour)/(4 workers * $11 per hour$)+($40 per hour+12 per hour)
Multifactor productivity before=(104carts per hour /(4 workers * $11 per hour$)+($40 per hour+12 per hour)
Multifactor productivity before=(104carts per hour /($66 per hour+$52 per hour)
Multifactor productivity before=(104carts per hour /118per hour
Multifactor productivity before=0.94 carts per hour
Kendra Corporation uses a process-cost accounting system. The company adds direct materials and direct labor at the start of its production process; overhead cost is incurred evenly throughout manufacturing. The firm has no beginning work-in-process inventory; its ending work in process is 40% complete. Which of the following sets of percentages would be used to calculate the correct number of equivalent units in the ending work-in-process inventory?
a. Materials, 100%; labor, 100%; overhead cost, 40%.
b. Materials, 100%; labor, 100%; overhead cost, 100%.
c. Materials, 100%; labor 40%; overhead cost, 40%.
d. Materials, 40%; labor, 40%; overhead cost, 60%.
e. Materials, 40%; labor, 40%; overhead cost, 100%.
Answer:
a. Materials, 100%; labor, 100%; overhead cost, 40%.
Explanation:
The work in Process have already passed the mark at which Materials and Labor are added, that is the start of its production process so these are both 100% complete. Overheads are 40 % complete, which is the extent of work done on them since they occur evenly.
Terry Dactal has compiled the financial information displayed below. Which of the following is Terry’s net worth? Salaries $72,400 Credit Card Balance $8,600 Cash on Hand $1,500 Utilities paid to date $8,450 Coin Collection $2,350 Jewelry value $8,500 Home value $335,000 Auto loan balance $14,300 Stock Portfolio value $18,500 1967 Ford Mustang value $40,900 Grocery Expenses $7,550 Checking account $3,200 Mortgage Balance $278,600 Property Taxes owed $1,750 Mortgage loan payments made $19,500 Student loan balance $26,200 New York vacation expenses paid $4,200 Auto loan payments paid $6,600 Income taxes paid-to-date $9,100 Clothing/entertainment expense $5,000 Interest earned $400 Insurance premiums paid $5,500
Answer: $80,500
Explanation:
A person's net worth is their Net assets less their liabilities.
Terry's assets include:
Cash on hand, Coin collection, Home value, Jewellery, stock portfolio, 1967 Ford Mustang, Checking account
Terry's liabilities include:
Credit card balance, Auto loan balance, Mortgage balance, Property taxes owed, Student loan balance.
Net worth is therefore:
= (1,500 + 2,350 + 335,000 + 8,500 + 18,500 + 40,900 + 3,200) - (8,600 + 14,300 + 278,600 + 1,750 + 26,200)
= $80,500
A review of Parson Corporation's accounting records found that at a volume of 90,000 units, the variable and fixed cost per unit amounted to $8 and $4, respectively. On the basis of this information, what amount of total cost would Parson anticipate at a volume of 85,000 units
Answer:
Total cost= $1,040,000
Explanation:
For 90,000 units:
Unitary variable cost= $8
Unitary fixed cost= $4
First, we need to calculate the total fixed cost:
Total fixed cost= 4*90,000= $360,000
Now, we can determine the total cost for 85,000 units:
Total cost= 85,000*8 + 360,000
Total cost= $1,040,000
Margot starts a new business and contributes $20,000 in cash; she also borrows $25,000 from her local bank. She utilizes the cash to purchase supplies for $5,000 and a computer system for $10,000. After these transactions, the total claims to the company's total resources are:
Answer:
$45,000
Explanation:
Given the above information, total resources is computed as;
Total resources = Cash + Purchase supplies + Equipment computer system
But
Cash = $20,000 + $25,000 - $5,000 - $10,000 = $30,000
Total resources = $30,000 + $5,000 + $10,000 = $45,000
On May 1, 2020, Sheffield Company enters into a contract to transfer a product to Eric Company on September 30, 2020. It is agreed that Eric will pay the full price of $24,040 in advance on June 15, 2020. Eric pays on June 15, 2020, and Sheffield delivers the product on September 30, 2020. Prepare the journal entries required for Sheffield in 2020.
Answer: Please see answer in explanation column
Explanation:
Date Account titles and explanation Debit Credit
May 1st, 2020 NO ENTRY NO ENTRY
2. Journal to record payment for product on June 15
Date Account titles and explanation Debit Credit
June 15, 2020 Cash $24,040
Unearned Sales Revenue $24,040
3. Journal to record delivery of product on September 30
Date Account titles and explanation Debit Credit
September 30, 2020 Unearned Sales Revenue $24,040
Sales Revenue $24,040
Consider the statements. Indicate whether each statement falls mainly under the field of microeconomics or macroeconomics.
A. A tax on tires increases the price of tires paid by car owners.
B. As a result of a severe recession, the total output, or gross domestic product, of a nation falls by 4%.
C. Increased consumer spending causes the national unemployment rate to fall.
D. Increased consumer spending causes the rate of inflation to rise.
E. Optimism about future car sales leads General Motors to hire more auto workers.
F. Robotic technology reduces the demand for auto workers.
Answer:
microeconomics
macroeconomics
macroeconomics
macroeconomics
microeconomics
microeconomics
Explanation:
Macroeconomics is a branch of economics that studies the economy as a whole. Macroeconomics studies economic aggregates such as inflation, unemployment, GDP and growth rate.
Microeconomics is a branch of economics that studies the decisions individuals and firms make in response to changes in economic factors. These factors include price, resources etc. it studies how firms and individuals allocate and make decisions about resources
The sole proprietor of Sam's Swings is interested in gaining a better understanding of his current customers in terms of certain demographic and lifestyle characteristics so he may better serve their needs. For this purpose, he should most appropriately conduct ________ research.
Answer:
Descriptive.
Explanation:
This is explained to be be a form of study that shows to be done in a descriptive manner where it talks about the data analysis, design and form at which the given topic is been solved at the said moment. This is why in the above case, the demographic and lifestyle properties are been ascertained for better conclusions that can drive to the given description. When this is gotten, it will be clearly seen to get a resonable amount ofescription which he require.
At the end of August, Kaye Company had completed Jobs 40 and 42. Job 40 is for 1,000 units, and Job 42 is for 500 units.
The following data relate to these two jobs:
On August 4, raw materials were requisitioned for production as follows: 200 units for Job 40 at $24 per unit and 900 units for Job 42 at $18 per unit.
During August, Kaye Company accumulated 700 hours of direct labor costs on Job 40 and 1,000 hours on Job 42. The total direct labor was incurred at a rate of $24 per direct labor hour for Job 40 and $10 per direct labor hour for Job 42.
The predetermined factory overhead rate is $6.00 per direct labor hour.
a. Determine the balance on the job cost sheets for Jobs 40 and 42 at the end of August.
Job 40 $
Job 42 $
b. Determine the cost per unit for Jobs 40 and 42 at the end of August. If required, round your answers to the nearest cent.
Job 40 $
Job 42 $
Answer:
a. Job 40 Job 42
Direct material 200*24= $4,800 900*18= $16,200
Direct labor 700*24= $16,800 1000*10 = $10,000
Overhead applied 700*6= $4,200 1000*6 = $6,000
Total Job cost $25,800 $32,200
b. Job 40 cost per unit = $25,800/1000 units
Job 40 cost per unit = $25.8 per unit
Job 42 cost per unit = $32,200/500 units
Job 42 cost per unit = $64.4 per unit
A company has the following cash transactions for the period.
Accounts Amounts Cash
received from sale of products to customers 31,500
Çash received from the bank for long-term loan 36,500
Cash paid to purchase factory equipment (41,500)
Cash paid to merchandise suppliers (10,300)
Cash received from the sale of an unused warehouse 11,300
Cash paid to workers (22,300)
Cash paid for advertisement (2,300)
Cash received for sale of services to customers 21,500
Cash paid for dividends to stockholders (4,300)
Assume the balance of cash at the beginning of the period is $3,300.
Required: 1.
Calculate the ending balance of cash. Ending balance
Answer:
oha lan buney yaa hepsi english
Below are several transactions that took place in Seneca Company last year: Paid suppliers for inventory purchases. Bought equipment for cash. Paid cash to repurchase its own stock. Collected cash from customers. Paid wages to employees. Equipment was sold for cash. Common stock was sold for cash to investors. Cash dividends were declared and paid. A long-term loan was made to a supplier. Income taxes were paid to the government. Interest was paid to a lender. Bonds were retired by paying the principal amount due. Required: Indicate how each of the above transaction would be classified on a statement of cash flows. As appropriate, place an X in the Operating, Investing, or Financing column. Also, place an X in the Cash Inflow or Cash Outflow column.
Answer:
Note: Operating = A, Investing = B, Financing = C, Cash Inflow column = D, Cash Outflow column = E
A B C D E
a. Paid suppliers for inventory X X
purchases.
b. Bought equipment for cash. X X
c. Paid cash to repurchase its X X
own stock.
d. Collected cash from customers. X X
e. Paid wages to employees. X X
f. Equipment was sold for cash. X X
g. Common stock was sold for X X
cash to investors.
h. Cash dividends were declared X X
and paid.
i. A long-term loan was made to X X
a supplier.
j. Income taxes were paid to X X
the government.
k. Interest was paid to a lender. X X
l. Bonds were retired by paying X X
the principal amount due
Paul Martin had worked for 12 years for the department of transportation when he applied for a promotion to dispatcher. Martin scored 75 on an interview test. Betty Palmer, another candidate, scored 73 and got the job. Martin sued the county for reverse discrimination. The county said that both Martin and Palmer were qualified and that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county. The county pointed out that none of 238 skilled craft workers jobs in the county were help by women. Answer the questions below around this case.
a. What issue(s) must the court decide in the case (for example, racial harassment)?
b. If you were the judge, how would you rule? Explain.
c. Describe two ways to help ensure workforce planning and employment are compliant.
Answer:
a.)
The court has to hear the arguments from both side of the party , analyze the arguments that has imposed by the party on each other. And after analyzing, the court decide the judgement.
b.)
If I were the judge , then i would not consider the case under racial harassment .
Because the country has an argument that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county.
Also , we know others law that says about equal employment has to give to the person without any discrimination.
c.)
To lower down the illegal occupation activities , proper plan of the workspace is must.
Steps required for workspace planning -
1. Objective of Business
2. Current workforce
3. Workers Necessity
4. Gap Minimization
5. Action plan review.
Explanation:
As given,
Paul Martin had worked for 12 years for the department of transportation when he applied for a promotion to dispatcher.
Martin scored 75 on an interview test.
Betty Palmer, another candidate, scored 73 and got the job.
a.)
The court has to hear the arguments from both side of the party , analyze the arguments that has imposed by the party on each other. And after analyzing, the court decide the judgement.
b.)
If I were the judge , then i would not consider the case under racial harassment .
Because the country has an argument that Palmer had gotten the job as part of a voluntary affirmative action plan designed to achieve a work force that reflected the race and gender composition of the county.
Also , we know others law that says about equal employment has to give to the person without any discrimination.
c.)
To lower down the illegal occupation activities , proper plan of the workspace is must.
Steps required for workspace planning -
1. Objective of Business
2. Current workforce
3. Workers Necessity
4. Gap Minimization
5. Action plan review.
A machine distributor sells two models, basic and deluxe. The following information relates to its master budget.
 Basic       Deluxe
Sales (units) 8,000 2,000
Sales price per unit $8,000 $12,000
Variable costs per unit $6,400 $9,000
Actual sales were 7,000 basic models and 2,800 deluxe models. The actual sales prices were the same as the budgeted sales prices for both models.
Required:
a. What is the sales activity variance for the basic model?
b. Is the sales activity variance for the basic model favorable or unfavorable? What is the sales activity variance for the deluxe model?
c. What is the sales mix variance for the basic model?
d. What is the sales quantity variance for the basic model?
e. What is the sales mix variance for the deluxe model based?
f. What is the sales quantity variance for the deluxe model?
Answer:
A. $1,600,000
B. Unfavorable
$2,400,000
C. $1,344,000
D. $256,000
E. $2,520,000
F. $120,000
Explanation:
a. Calculation for What is the sales activity variance for the basic model
Sales activity variance=(7,000 - 8,000) *($8,000 - $6,400)
Sales activity variance=$1,000*$600
Sales activity variance= $1,600,000
Therefore Sales activity variance for the basic model will be $1,600,000
b. The sales activity variance for the basic model is UNFAVORABLE reason been that the sales amount is lesser than the budgeted amount
Calculation for What is the sales activity variance for the deluxe model
Sales activity variance=(2,800 - 2,000) *($12,000 - $9,000)
Sales activity variance=800*3,000
Sales activity variance= $2,400,000
Therefore the sales activity variance for the deluxe model will be $2,400,000
c. Calculation for What is the sales mix variance for the basic model
Sales mix variance=[7,000 - 8,000/10,000 *(7,000 + 2,800)] *($8,000 - $6,400)
Sales mix variance=[7,000 - 80% *(7,000 + 2,800)] *($8,000 - $6,400)
Sales mix variance=[7,000 - 80% *(9,800)] *($1,600)
Sales mix variance=[7,000 -7,840 ] *($1,600)
Sales mix variance=840*$1,600
Sales mix variance= $1,344,000
Therefore the sales mix variance for the basic model will be $1,344,000
d. Calculation for What is the sales quantity variance for the basic model
Sales quantity variance=(9,800 - 10,000) x (8,000/10,000) x ($8,000 - $6,400)
Sales quantity variance= $256,000
Therefore the sales quantity variance for the basic model will be $256,000
e. Calculation for What is the sales mix variance for the deluxe model based
Sales mix variance=[2,800 - 2,000/10,000 *(7,000 + 2,800)] *($12,000 - $9,000)
Sales mix variance=[2,800 - 20% *(7,000 + 2,800)] *($12,000 - $9,000)
Sales mix variance=[2,800 - 20% *(9,800)] *($3,000)
Sales mix variance=[2,800 -1,960 ] *($3,000)
Sales mix variance=840*$3,000
Sales mix variance= $2,520,000
Therefore the sales mix variance for the deluxe model based will be $2,520,000
f. Calculation for What is the sales quantity variance for the deluxe model
Sales quantity variance=(9,800 - 10,000) x (2,000/10,000) x ($12,000 - $9,000)
Sales quantity variance= $120,000
Therefore the sales quantity variance for the deluxe model will be $120,000
The question is about variances of a machine distributor.
A Sales Activity Variance Basic
8000 - 7000 = 1000 * $8000
= $8,000,000
B. Unfavorable
Sales Activity Variance Deluxe
2000 - 2800 = 800 * $12000
=9,600,000
Favorable
Sales Mix Variance Basic
$8000 - $6400 = $1600
1000 * $1600 = $1,600,000
Sales Mix Variance Deluxe
$12000 - $9000 = $3000
800 * $3000 = $2,400,000
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Identifying type and normal balances of accounts Lo C4 For each of the following (1) identify the type of account as an asset, liability equity, revenue, or expense; (2) identify the normal balance of the account, and (3) select debit (Dr or credit (Cr) to identify the kind of entry that would increase the account balance.
Account Type of Account Normal Balance Increase (Dr. or C
a. Land
b. Cash
c. Legal Expense
d. Prepaid Insurance
e. Accounts Receivable
f. Dividends
g. License Fee Revenue
h. Uneaned Revenue
i. Fees Earned
j. Equipment
k. Notes Payable
l. Common Stock
Answer:
a. Land - Asset, Debit, Dr
b. Cash - Asset, Debit, Dr
c. Legal Expense - Expense, Debit, Dr
d. Prepaid Insurance - Asset, Debit, Dr
e. Accounts Receivable - Asset, Debit, Dr
f. Dividends - Equity, Credit, Cr
g. License Fee Revenue - Revenue, Credit, Cr
h. Uneaned Revenue - Liability, Credit, Cr
i. Fees Earned - Revenue, Credit, Cr
j. Equipment - Asset, Debit, Dr
k. Notes Payable - Liability, Credit, Cr
l. Common Stock - Equity, Credit, Cr
Explanation:
Assets, liabilities and equity are the elements of a balance sheet. These 3 elements form the accounting equation which is given as
Assets = Liabilities + Equity
Assets usually have a debit balance while equity and liabilities are usually credit balances. Expenses like assets usually have a debit balance while revenue usually has a credit balance.
Joshua loans his son, Seth, $100,000 interest free for five years. Seth uses the money for a down payment on his home. Assume that the applicable federal interest rate is 4 percent. What are the tax consequences of this loan to Joshua and to Seth? How would your answer change if Seth uses the money to invest in corporate bonds paying 8 percent annual interest? [LO
Answer:
What are the tax consequences of this loan to Joshua and to Seth?
The IRS requires that any loans must charge a minimum interest rate, and in this case, since Joshua is not charging any interest to his son, the IRS will consider the minimum interest rate as a gift and will tax it that way. Since Joshua can make gifts for $15,000 per year, if the threshold is already passed, the IRS will consider $100,000 x 4% = $4,000 as taxable gifts.
How would your answer change if Seth uses the money to invest in corporate bonds paying 8 percent annual interest?
The answer shouldn't change since Joshua is the one that can be taxed here. Seth cannot deduct any interest expense or gift tax expense either.
What is a commodity
Answer:
Something useful or valuable.
Explanation: