Answer:
C
Explanation:
Checking and savings
Celestial Artistry Company is developing departmental overhead rates based on direct-labor hours for its two production Department. Etching and Finishing. The Etching, Department employs 20 people and the Finishing Department employs 80 people. Each person in these two departments works 2,000hours per year. The production-related overhead costs for the Etching Department are budgeted at $200.000, and the Finishing Department costs are budgeted at $320.000. Two service departments. Maintenance and Computing directly support the two production departments. These service department, have budgeted costs of $48,000 and $250,000 respectively. The production department’s overhead rates cannot be determined until the service department’s costs are allocated. The following schedule reflects the use of the Maintenance Departments and Computing Department’s output by the various departments.
Using Department
Service Department Maintenance Computing Etching Finishing
Maintenance(maintenance hours) 0 1,000 1,000 8,000
Computing (minutes) 240,000 0 840,000 120,000
Required:
1. Use the direct method to allocate service department costs. Calculate the overhead rates per direct labor hour for the Etching Department and the Finishing Department.
2. Use the step–down method to allocate service department costs. Allocate the Computing Department’s costs first. Calculate the overhead rates per direct-labor hour for the Etching Department and the Finishing Department.
Answer:
Celestial Artistry Company
1. Allocation of Service departments costs (direct method):
Service Dept Production Dept.
Maintenance Computing Etching Finishing Total
Overheads $48,000 $250,000 $200,000 $320,000 $818,000
Maintenance (48,000) 5,333 42,667 0
Computing (250,000) 218,750 31,250 0
Total costs $0 $0 $424,083 $393,917 $818,000
Direct labor hours 40,000 160,000
Overhead rate per direct labor hour $10.602 $2.462
2. Allocation of Service departments costs (step-down method):
Service Dept Production Dept.
Maintenance Computing Etching Finishing Total
Overheads $48,000 $250,000 $200,000 $320,000 $818,000
Computing 50,000 (250,000) 175,000 25,000 0
Maintenance (98,000) 0 10,889 87,111 0
Total costs $0 $0 $385,889 $432,111 $818,000
Direct labor hours 40,000 160,000
Overhead rate per direct labor hour $9.647 $2.701
Explanation:
a) Data and Calculations:
Etching Finishing Total
Employees 20 80 100
Direct labor hours per year 2,000 2,000
(per employee)
Total direct labor hours/year 40,000 160,000 200,000
Production-related overhead $200,000 $320,000 $520,000
Service Dept Production Dept.
Maintenance Computing Etching Finishing Total
Overheads $48,000 $250,000 $200,000 $320,000 $818,000
Maintenance
(maintenance hours) 0 1,000 1,000 8,000 10,000
Computing (minutes) 240,000 0 840,000 120,000 1,200,000
Direct Allocation of Service Departments Overheads:
Maintenance Overhead:
Etching = $5,333 ($48,000 * 1,000/9,000)
Finishing = $42,667 ($48,000 * 8,000/9,000)
Computing Overhead:
Etching = $218,750 ($250,000 * 840,000/960,000)
Finishing = $31,250 ($250,000 * 120,000/960,000)
Step-down Allocation of Service Departments Overheads
Computing Overhead:
Maintenance = $50,000 ($250,00 * 240,000/1,200,000)
Etching = $175,000 ($250,00 * 840,000/1,200,000)
Finishing = $25,000 ($250,00 * 120,000/1,200,000)
Maintenance Overhead of $98,000:
Etching = $10,889 ($98,000 * 1,000/9,000)
Finishing = $87,111 ($98,000 * 8,000/9,000)
Parth and Brittany have been your best friends since grade school. You have decided to quit your respective jobs and start up a bakery together since you all love cupcakes. Parth insists he wants to start the business as a partnership. Amber says that she wants to start the business as a corporation. You want to weigh in and give your opinion as to the best form of business. 1. What are the options for business form
Answer: Business as a partnership and business as a corporation
Explanation: they are both types of business or jobs that can be done by anyone. a partnership is when two people help each in one business, but if you are talking about corporation is more people than to friend that want to start a business
The company has budgeted to produce 28,000 units of Product T in June. The finished goods inventories on June 1 and June 30 were budgeted at 800 and 600 units, respectively. Budgeted direct labor costs for June would be:
Answer:
Results are below.
Explanation:
We weren't provided with the number of hours per unit or the hourly rate. But, let's suppose that each unit requires 0.1 hours and the hourly rate is $10.
Production= 28,000 units
Direct labor hours required= 28,000*0.1= 2,800 hours
Total direct labor cost= 2,800*10= $28,000
Pick of the Litter has just purchased a sizable plot of land on which it will build a store building with a large parking lot. Across the street is a collection of specialty shops and a furniture store. Pick of the Litter will be part of a strip shopping center.
a. True
b. False
Answer:
b. False
Explanation:
A strip mall or a strip shopping centre is made up of a set of businesses that are arranged adjacent to themselves and usually have a side walk in front of them.
It's is a row of shops.
I'm the given instance Pick of the Litter built a store building across the street is a collection of specialty shops and a furniture store.
Since Pick of the Litter is not on the same side of the street as the other shops it is in a row with them, so it is not part of the strip shopping centre.
Capital budgeting is the process of making capital expenditure decisions. used in sell or process further decisions. of determining how much capital stock to issue. of eliminating unprofitable product lines.
Answer:
The correct answer is the first option: of making capital expenditure decisions.
Explanation:
To begin with, the term known as "Capital Budgeting", in the field of business management, refers to the method a company's manager use in order to see how profitable it is to start some new inversions or projects, therefore that the main purpose of this process is to involve the elaboration of a budget that will help the superiors of the organization to make capital expenditure decisions when they are looking for a new inversion or project to start with. It is very helpful in the situations where there is a need for evaluation of future prospects.
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 5,500 units of Comfort Office Keyboard to one of its clients, Bionics, Inc., at a fixed price of $94,600, to be settled by a cash payment on May 1. Delivery is scheduled for June 1, 2021. As part of the contract, the seller offers a 25% discount coupon to Bionics for any purchases in the next six months. The seller will continue to offer a 5% discount on all sales during the same time period, which will be available to all customers. Based on experience, Meta Computer estimates a 50% probability that Bionics will redeem the 25% discount voucher, and that the coupon will be applied to $44,000 of purchases. The stand-alone selling price for the Comfort Office Keyboard is $19.20 per unit.
Required:
a. . How many performance obligations are in this contract?
b. Prepare the journal entry that Meta would record on May 1, 2021.
c. Assume the same facts and circumstances as above, except that Meta gives a 5% discount option to Bionics instead of 25%. In this case, what journal entry would Meta record on May 1, 2021?
Answer:
A. 2
B. May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
Cr Deferred revenue-coupons $4,730
C. May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
Explanation:
A. Based on the information given the numbers of PERFORMANCE OBLIGATIONS that are in this contract is 2 which are:
KEYBOARD and CUSTOMER OPTION FOR FUTURE DISCOUNT
B. Preparation of the journal entry that Meta would record on May 1, 2021.
May 1, 2021
Dr Cash $94,600
Cr Deferred revenue $89,870
($94,600-$4,730)
Cr Deferred revenue-coupons $4,730
(5%*$94,600)
C. Preparation of the journal entry that Meta would record on May 1, 2021
May 1, 2021
Dr Cash $94,600
Cr Deferred Revenue $94,600
Heuser Industries recently projected the following data (in thousands) for a coming year. The dividend payout is expected to be 40% of net income. What is the dollar amount of expected dividends (in thousands)
Answer:
$84.00
Explanation:
Note that the below projected income statement is missing from the question:
Sales $ 6,000.00
Operating costs $ 4,900.00
EBITDA $ 1,100.00
Depreciation $ 500.00
EBIT $ 600.00
Interest $ 250.00
EBT $ 350.00
Taxes (40%) $ 140.00
Net income $ 210.00
Also, it should be noted that dividends are paid out of the net income such that the balance of the net earnings after payment of dividends is added to the balance of the retained earnings
Dividends=dividend payout ratio*net income
projected net income=$210.00
dividend payout ratio=40%
Dividends=40%*$210.00
Dividends=$84.00
Standard costs are used in the calculation of: Multiple Choice Quantity and sales variances. Price variances only. Price, quantity, and sales variances. Price and quantity variances. Quantity variances only.
Answer:
Price and quantity variances.
Explanation:
Standard cost in business management refers to the amount of money a product is supposed to cost in manufacturing it. It is a management tool that can be used to measure efficiency in the level of output or production of goods and services at a specific period of time.
In Financial accounting, the difference between the actual cost of each unit of a product and its standard cost is referred to as variance. In order to determine the standard cost of a product, the expected quantity of the product is multiplied by an expected price.
Standard costs are used in companies for a variety of reasons such as;
1. They're used to estimate the cost of an inventory.
2. They're used to plan direct labor, variable factory overhead and direct materials.
3. Standard costs are used to control costs.
However, standard costs cannot be used to indicate where changes in technology and machinery need to be made rather an actual cost should be used.
Additionally, the standard cost of each unit of a product manufactured in a business firm is categorized into two (2) and these are;
I. Price standard.
II. Quantity standard.
How do I solve this? It’s a real estate question.
Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes. Example M1 M2 Eileen has $7,000 in a two-year certificate of deposit (CD). Clancy has $25,000 in a money market account. Alex has $1,200 in a checking account.
Answer and Explanation:
The classification is as follows;
The first two examples comes in only M2 i.e. Eileen example and Clancy example as M1 denotes M1 + liquid assets
while on the other hand, the third example comes in M1 and M2 i..e Alex example as M1 denotes thenotes, coins & checking deposits and M2 described above
Hence, in this way it should be belong
Phishing:_______
a) A con executed using technology, typically targeted at acquiring sensitive information, or tricking someone into installing malicious software.
b) A term that, depending upon the context, may be applied to either, 1) someone who breaks into a computer system, or 2) a particularly clever solution.
c) When someone uncovers computer weaknesses, without exploiting them.
d) When a protester seeks to make a political point by leveraging technology tools, often via system integration, defacement, or damage.
Answer:
a)
Explanation:
Phishing is a type of deception in which an intruder disguises himself in email or other means of communication as a reputable individual or person. Attackers would normally use phishing e-mails to spread a range of malicious links or attachments. Some people will gather login credentials or victims' account details.
So as per above definition only option A seems the correct alternative among al the other option when discussing about Phishing.
A con executed using technology, typically targeted at acquiring sensitive information, or tricking someone into installing malicious software.
Which one has the objective of "long-term financial success"?
A. Plotting
B. Spending
C. Saving
D. Investing
Answer:
C saving
MARK ME BRAINLIEST THANKS MY ANSWER PLEASE
Several critics of the drug companies have claimed that the companies' practice of testing drugs on poor people in developing countries violates principles of justice. Why would they say this
Answer:
Because people in developing countries are less educated and don't understand the implications of being used for drug trials
Explanation:
Drug trials are carried out to test new drugs that companies want to introduce to the market.
The drugs are usually first tested on animals and in the final testing phase human trials are used to gauge how the drug will affect people.
In 1980 the FDA gave approval for testing in other countries. A lot of companies now started using developing countries for their drug trials.
This practice violates the principles of justice because the people in developing countries are mostly illiterates that don't the potential risks drug trials have.
The subjects of the trials are usually given some cash to participate in the trials. They consider it easy money.
Five years ago, you invested in the Future Investco Mutual Fund by purchasing shares of the fund at the price of per share. Because you did not need the income, you elected to reinvest all dividends and capital gains distributions. Today, you sell your shares in this fund for $ per share. If there were a % load on this fund, what would your rate of return be?
Answer:
7.12%
Explanation:
Full question "Three years? ago, you invested in the Future Investco Mutual Fund by purchasing 1,000 shares of the fund at the price of $ 19.51 per share. Because you did not need the? income, you elected to reinvest all dividends and capital gains distributions. ? Today, you sell your 1,100 shares in this fund for ?$22.02 per share. If there were a 1?% load on this? fund, what would your rate of return? be? The compounded rate of return on this investment over the? three-year period is?"
Value of investment three year ago = 1,000 * $19.51 = $19,510
Value of investment today = 1,100 * $22.02 = $24,222
Load = 1%. Net Proceed from sale of investment = $24,222 * (1 - 1%) = $23,979.78
Rate of return in three year = ($23,979.78 - $19,510) / $19,510
Rate of return in three year = $4,469.79 / $19,510
Rate of return in three year = 0.229103
Rate of return in three year = 22.91%
Annual Return = [(1 + 22.91%)^(1 / 3)] - 1
Annual Return = 1.0712 - 1
Annual Return = 0.712 - 1
Annual Return = 7.12%
NeverEver Corporation is choosing between a taxable bond at the yield of 7% and a municipal bond at the yield of 5.75%. Calculate the NeverEver Corporation's break-even tax rate. g
Answer:
18%
Explanation:
Calculation to determine the NeverEver Corporation's break-even tax rate.
Using this formula
Break-even tax rate=1- ( Municipal / Corporate )
Let plug in the formula
Break-even tax rate=1- (0.0575-0.07)=0.821429
Break-even tax rate=1-0.821429=0.178571
Break-even tax rate=0.178571 *100
Break-even tax rate= 17.8%
Break-even tax rate=18% Approximatel
Therefore the NeverEver Corporation's break-even tax rate is 18%
Perform a horizontal analysis providing both the amount and percentage change. (Round Percentage answers to 1 decimal place. Decreases should be indicated by a minus sign.)
Year
2021 2020
Cash $322,960 $880,000
Accounts receivable 702,240 280,000
Inventory 897,780 780,000
Long-term assets 3,536,680 2,380,000
Total assets $5,459,660 $4,320,000
Answer:
Find attached
Explanation:
Horizontal or trend analysis involves is a financial statement analysis technique that shows the percentage change or dollar change in a corresponding financial statement's item.
For example, the change in the fixed assets by a way of increase or decrease compared to last year's financial statements.
Formula:
change in a particular line item=(current year amount/previous year)-1
A productive process approachviews operations as a separate organizational function.must provide feedback information for control of process inputs and technology.is of limited use in service organizations.disregards human and social concerns.
Answer:
The correct answer is the second option: Must provide feedback information for control of process inputs and technology.
Explanation:
To begin with, the term known as " Productive process approach" in the field of business management is refered to the method used by the companies who seeks for the constant improvement of its daily operations inside the organization. Therefore that it is necessary to say that this approach must provide feedback information of the internal processes that happen in the business regarding the inpunts and the technology used by the place so that a regular control will take place and with that every little adjustment as well in order to get better at every possible way to produce the company's product.
On May 8, Dome filed a financing statement that adequately identified the collateral. On June 9, Tint sold one computer to Bean for personal use and four computers to Green Co. for its business. Which of the following is correct?
A. The computer sold to Bean will riot be subject to Dome's security interest
B The computers sold to Green will be subject to Dome's security interest
C. The security interest cloes rnot include the prioceeds from the sale of the.computers to Green
D. The security interest muy not cover after-acquired property evenif the parties agree 2 pts
Answer: A. The computer sold to Bean will not be subject to Dome's security interest
Explanation:
The computers sold to Bean have passed ownership from Tint to Bean and so cannot be subject to whatever agreements Tint had with Dome Bank because those agreements were contingent on Tint owning the computers.
For instance, if you buy a car from a dealership which had acquired those cars by using loans from a bank, you are not liable to pay the interest on the loan that the dealership took to buy the car.
STEP 1: After reviewing the chapters in the module, propose how a U.S. company is applying an Integrated Marketing Communications strategy to deliver its message. Describe which channels the company is using, and how the channels are integrated. Your proposal must include at least one advertisement and one public relations example, with discussion of their objectives and message. Examples already discussed in the text are not acceptable.
Answer:
us
Explanation:
STEP 1: After reviewing the chapters in the module, propose how a U.S. company is applying an Integrated Marketing Communications strategy to deliver its message. Describe which channels the company is using, and how the channels are integrated. Your proposal must include at least one advertisement and one public relations example, with discussion of their objectives and message. Examples already discussed in the text are not acceptable.
The following data refer to Brompton Company’s ending inventory:
Item Code
Quantity
Unit Cost
Unit NRV
Small
100
$250
$246
Medium
400
150
145
Large
600
170
162
Extra-Large
250
265
270
What is the ending inventory balance if the lower of cost or net realizable value rule is applied to each item of inventory?
Answer:
Unit cost
Explanation:
They ending inventory
Blues Inc. manufactures jeans in the cutting and sewing process. Jeans are manufactured in 40-jean batch sizes. The cutting time is 5 minutes per jean. The sewing time is 20 minutes per jean. It takes 2 minutes to move a batch of jeans from cutting to sewing.
a. Compute the value-added, non-value-added, and total lead time of this process. Value-added lead time minutes Non-value-added lead time minutes Total lead time minutes
b. Compute the value-added ratio. Round to one decimal place. %
Answer:
1. Value added time = Cutting + Sewing time
Value added time = 5 min + 20 min
Value added time = 25 minutes
Non-value added time = Total within batch wait time + Move time
Non-value added time = (25 minutes*(40-1)) + 2 minutes
Non-value added time = 977 minutes
Total lead time = Value added time + Non-value added time
Total lead time = 25 minutes + 977 minutes
Total lead time = 1,002 minutes
2. Value added ratio = Value added time / Total lead time
Value added ratio = 25 minutes / 1,002 minutes
Value added ratio = 0.02495
Value added ratio = 2.5%
This year Randy paid $29,800 of interest on his residence. (Randy borrowed $474,000 to buy his residence, and it is currently worth $524,000.) Randy also paid $3,100 of interest on his car loan and $5,100 of margin interest to his stockbroker (investment interest expense). How much of this interest expense can Randy deduct as an itemized deduction under the following circumstances
Answer:
Randy can deduct $33,900 interest expense as an itemized deduction.
Explanation:
a) Data and Calculations:
Mortgage interest on residence = $29,800
Mortgage loan = $74,000
Current price of house = $524,000
Car loan interest = $3,100
Investment (margin) interest = $4,100
Deductible interest expenses:
Mortgage interest on residence = $29,800
Investment (margin) interest = 4,100
Total deductible interest = $33,900
b) The car loan interest that Randy incurred is not tax-deductible unless the car is used for his business. Otherwise, only the portion used for business is deductible. It is assumed that the car loan interest was incurred for private use and not business use. Therefore, it is not deductible.
Which organization compiles data on individuals and businesses to report on their credit?
TransUnion
The Bureau of Consumer Protection
The National Credit Union Administration
Vantage Scores
Answer:
Option A
Explanation:
There are primarily three credit bureaus to which the Lenders go namely -
a) TransUnion
b) Equifax
c) Experian
These three agencies are interested in reviewing credit reports before lending any financial aid.
Hence, option A is correct
Answer:
TransUnion
Explanation:
A retail store has two options for discounting items to go on clearance.
1: Decrease the price of the item by 15% each week.
2: Decrease the price of the item by $5 each week. If the cost of an item is $45, write a function rule for the difference in price between the two options.
Answer:
Difference = 1.75 , Function = mod [ 0.15x - 5 ]
Explanation:
Discount case 1 = $5 {Each week} , Discount case 2 = 15% {Each week}
After 1st week , for item cost = 45
Discount in case 1 = $5 , & price = 45 - 5 = 40 Discount in case 2 = 15% of 45 = 6.75 , & price = 38.25Difference in price = 40 - 38.25 = 1.75 .It is same is difference in discount = 6.75 - 5 , ie = 1.75
Functional rule in price difference , for item with unknown price 'x' = mod [ (x - 5) - (x - 0.15x) ] = mod [ x - 5 - x + 0.15x ] = mod [ 0.15x - 5 ] , which is same as difference between discount '0.15x & 5'
Penny Arcades, Inc., is trying to decide between the following two alternatives to finance its new $28 million gaming center: a. Issue $28 million of 6% bonds at face amount. b. Issue 1 million shares of common stock for $28 per share. 2. Which alternative results in the highest earnings per share
Answer:
Penny Arcades, |nc.
a. Issue $28 million of 6% bonds at face amount.
Explanation:
Alternative A will surely result in higher earnings per share than Alternative B. It has been established that some financial leverage enables the stockholders to earn more per share. This is not a debatable issue. The hard work lies with the corporation's ability to find the debtholders that can finance its activities and assets. This means that the stockholders of Penny Arcades, Inc. will be at a much more financial advantage if they can find creditors to lend it the $28 million for the gaming center than making the finance available themselves.
ABC Corporation is considering the purchase of a machine that would cost $220,000 and would last for 9 years. At the end of 9 years, the machine would have a salvage value of $20,500. By reducing labor and other operating costs, the machine would provide annual cost savings of $35,000. The company requires a minimum pretax return of 9% on all investment projects. (Ignore income taxes.) Click here to view Exhibit 12B-1 and Exhibit 12B-2, to determine the appropriate discount factor(s) using the tables provided. The net present value of the proposed project is closest to: (Round your intermediate calculations and final answer to the nearest whole dollar amount.)
a. $(745)
b. $(95,000)
c. $(16,092)
d. $9,665
Answer:
a. $(745)
Explanation:
The computation of the net present value is shown below;
As we know that
Net present value = Present value of Cash inflow - Present value of Cash outflow
= ($35,000 × 5.995+ $20,500 × 0.46) - $220,000
= -$745
We simply deduct the cash outflow present value from the cash inflow present value so that the net present value could come
hence, the option a is correct
he revenue cycle's primary objective is to Group of answer choices lower expenses. provide the right product in the right place at the right time for the right price. provide quality product in order to maximize market share. maximize the company's profit.
Answer: provide the right product in the right place at the right time for the right price.
Explanation:
Revenue cycle refers to the process involving the completion of an accounting process from the sale of a product till receipts are gotten for payment made.
The primary objective of the revenue cycle is to provide the right product in the right place at the right time for the right price.
market:blue Jean market . event :the dye in blue jeans is proven not fade easily .Name the market
DontBuyFromUs
Microsoft sells two types of office software, a word processor it calls Word, and a spreadsheet it calls excel. Both can be produced at zero marginal cost. There are two types of consumers for these products, who exist in roughly equal proportions in the population: authors, who are willing to pay $120 for Word and $40 for excel, and economists who are willing to pay $50 for word and $150 for excel.
a. Ideally, Microsoft would like to charge authors more for Word and economists more for excel. Why would it be more difficult for microsoft to do this?
b. Suppose that Microsoft execs decide to sell word and Excel Seperately, what price should Microsoft set for word? (Hint: is it better to sell only to authors, or try to sell to both authors and economists?) What price should Microsoft set for excel? What will microsoft's profit be from a representative group of one author and one economist?
c. Suppose the Microsoft decides to bundle together Word and Excel in a package called Office, and not offer them individually. What price should Microsoft set for the package? Why? How much profit will Microsoft generate from a representative group of one author and one economist?
d. Does bundling allow Microsoft to generate higher profit than selling Word and Excel seperately?
Answer:
a
Explanation:
Marco started the shop by investing $40,400 cash and equipment valued at $18,400 in exchange for common stock.
Purchased $110 of office supplies on credit.
Paid $1,600 cash for the receptionist's salary.
Sold a custom frame service and collected $4,900 cash on the sale.
Completed framing services and billed the client $240.
What was the balance of the cash account after these transactions were posted?
a. $11,790
b. $12,030
c. $43,700
d. $43,830
e. $43.940.
Answer:
$43,700
Explanation:
The simplest way to determine the balance of the cash account is to prepare the cash account and see the side with a shortfall well as the amount. A cash account accounts for only cash related transactions.
Marco`s Cash Account
Debit :
Capital $40,400
Cash Sales $4,900
Total $45,300
Credit :
Receptionist's salary $1,600
Balance c/d (missing amount) $43,700
Total $45,300
thus,
the balance of the cash account after these transactions is $43,700.