Answer:
A. Capitol Resources
Explanation:
Explanation:
Answer:
Capital resources
Explanation:
"Human capital" is sometimes used synonymously with human resources, although human capital typically refers to a more narrow view. Likewise, other terms sometimes used include "manpower", "talent", "labour", or simply "people".
Hope this helps out. if not, please let me know so i can edit my answer
Sugarland Company is using new cost drivers for its accounting system. One driver material handling for unit variable costs and number of inspections for a pool of batch-level costs. Data for the past year follow. Budget Actual Material handling 180,000 225,000 Number of inspections 6,000 6,600 Unit variable cost pool$810,000 $1,035,000 Batch-level cost pool$115,200 $126,060 What is the total flexible budget dollar amount for the actual level of material handling and actual number of inspections
Answer:
The total flexible budget dollar amount for the actual level of material handling and actual number of inspections is $1,139,220.
Explanation:
Note: The data in this question are merged together. They are therefore sorted before answering the question as follows:
Budget Actual
Material handling 180,000 225,000
Number of inspections 6,000 6,600
Unit variable cost pool $810,000 $1,035,000
Batch-level cost pool $115,200 $126,060
The explanation of the answer is now given as follows:
These actual amounts are the flexible budget amount with two pools.
Flexible budget dollar amount for the actual level of material handling = (Budgeted Unit variable cost pool / Budgeted Material handling) * Actual Material handling = ($810,000 / 180,000) * 225,000 = $1,012,500
Flexible budget dollar amount for the actual number of inspections = Budgeted Batch-level cost pool / Budgeted Number of inspections) * Actual Number of inspections = ($115,200 / 6,000) * 6,600 = $126,720;
Total flexible budget dollar amount = Flexible budget dollar amount for the actual level of material handling + Flexible budget dollar amount for the actual number of inspections = $1,012,500 + $126,720 = $1,139,220
Therefore, the total flexible budget dollar amount for the actual level of material handling and actual number of inspections is $1,139,220.
Match each description to the appropriate cost flow assumption (a-c).
a. FIFO
b. LIFO
c. Weighted average
5. Produces the same cost of merchandise sold under both the periodic and the perpetual inventory system
6. Rarely used with a perpetual inventory system
7. Produces results that are similar to the specific identification method
8. Widely used for tax purposes
9. Never results in either the highest or lowest possible net income
10. Produces the highest gross profit when costs are decreasing
11. Produces the highest ending inventory when costs are increasing
12. Assigns the same value to all inventory units
13. Prohibited under International Financial Reporting Standards (IFRS)
14. Does not follow the physical flow of goods in most cases
15. Cost of the latest purchases are assigned to ending inventory
Answer:
5. Produces the same cost of merchandise sold under both the periodic and the perpetual inventory system
Cost flow assumption: FIFO
6. Rarely used with a perpetual inventory system
Cost flow assumption: Weighted average
7. Produces results that are similar to the specific identification method
Cost flow assumption: FIFO
8. Widely used for tax purposes
Cost flow assumption: LIFO
9. Never results in either the highest or lowest possible net income
Cost flow assumption: Weighted average
10. Produces the highest gross profit when costs are decreasing
Cost flow assumption: LIFO
11. Produces the highest ending inventory when costs are increasing
Cost flow assumption: FIFO
12. Assigns the same value to all inventory units.
Cost flow assumption: Weighted average
13. Prohibited under International Financial Reporting Standards (IFRS) Cost flow assumption: LIFO
14. Does not follow the physical flow of goods in most cases
Cost flow assumption: LIFO
15. Cost of the latest purchases are assigned to ending inventory
Cost flow assumption: FIFO
Company Omega bought new petroleum refining equipment in the year 2000. The purchase cost was 172,024 dollars and in addition it had to spend 10,610 dollars for installation. The refining equipment has been in use since February 1st, 2000. Omega forecasted that in 2030 the equipment would have a net salvage value of $10,000. Using the US Straight Line Depreciation Schedule, estimate the value of depreciation recorded in the accounting books in the year 2004 if the company decided to sell the equipment on August 5th (of 2004). (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)
Answer:
depreciation in 2004 = 5754.5
Explanation:
The salvage value of an asset is the book value estimated at the end of depreciation. The straight-line depreciation method equally distributes the depreciation per year throughout the useful life of the equipment.
In order to calculate the depreciation value in 2004, let us first calculate the depreciation. This is calculated as follows:
Total Depreciation = Purchase cost - salvage value
Purchase cost = cost of equipment + cost of installation
= 172024 + 10610 = $182,634
∴ Total depreciation = 182,634 - 10,000
= $172,634
Depreciation per year = Total depreciation ÷ number of years
Number of years = 2030 - 2000 = 30
Depreciation per year = 172,634 ÷ 30
= 5754.5
∴ depreciation in 2004 = 5754.5
d (i). Suppose that ZX Inc. is currently selling at $50 per share. You buy 200 shares, using $5,000 of your own money and borrowing the remainder of the purchase price from your broker. The rate on the margin loan is 5%. What is the rate of return on your margined position (assuming again that you invest $5,000 of your own money) if ZX Inc. is selling after one year at $46 (use whole number percentage with two decimals rounded up/down - i.e. 0.3245 input 32.45) ? Group of answer choices -21% -20% -19% -18%
Answer:
-21%
Explanation:
Initial share price = $50
Share price after 1 year = $46
net return = (200 x $46) - $10,000 - ($5,000 x 5%) = $9,200 - $10,000 - $250 = -$1,050
rate of return of margined position = -$1,050 / $5,000 = -0.21 = -21%
when you operate on the margin, your earnings can increase or decrease dramatically. In this case, an 8% price decrease resulted in a 215 lose.
Consider a five-person family consisting of a father, mother, twin 16-year-old sons attending high school, and an 85-year- old grandfather. The grandfather receives Social Security but has no other sources of income. The father and mother provide the majority of the grandfather's financial support because of his expensive in-home medical care. In 2017, before the change in the tax laws, what is the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions
The correct answer to this open question is the following.
Unfortunately, you forgot to attach the options for this question.
However, trying to help, we can say the following.
In 2017, before the change in the tax laws, the approximate amount of money that the parents would be able to deduct from their adjusted gross income based on their personal exemptions was $16,000.-
In the federal government taxation regulations periodically changes and adjust to consider new circumstances. That is why the IRS continually makes adjustments.
In December 2017, Congress passed the Jobs Act and Tax Cuts, modifying credits work and tax deductions of American families. Among the most important changes that started to be valid in 2018 was the removal of exemptions. That is why, before this removal of exemptions was valid, the head of the family could get personal exceptions for qualified family members such as the wife and children, or any other dependent.
Juno Corporation's stockholders' equity section at December 31, 2019 appears below: Stockholder's equity Paid-in capital Common stock, $10 par, 60,000 outstanding $600,000 Paid-in capital in excess of par 150,000 Total paid-in capital $750,000 Retained earnings 150,000 Total stockholder's equity $900,000 On June 30, 2020, the board of directors of Juno Corporation declared a 20% stock dividend, payable on July 31, 2020, to stockholders of record on July 15, 2020. The fair value of Juno Corporation's stock on June 30, 2020, was $15. On December 1, 2020, the board of directors declared a 2 for 1 stock split effective December 15, 2020. Juno Corporation's stock was selling for $20 on December 1, 2020, before the stock split was declared. Par value of the stock was adjusted. Net income for 2020 was $190,000 and there were no cash dividends declared.
Prepare the journal entries on the appropriate dates to record the stock dividend and the stock split. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 6/30/17 7/15/17 7/31/17 12/1/17 12/15/17 SHOW LIST OF ACCOUNTS Fill in the amount that would appear in the stockholders' equity section for Juno Corporation at December 31, 2017, for the following items:
1. Common stock $
2. Number of shares outstanding
3. Par value per share $
4. Paid-in capital in excess of par $
5. Retained earnings $
6. Total stockholders’ equity $
Answer:
Explanation:
Date Particulars Amount (Dr) Amount (Cr)
6/30/17 Stock dividends
(60,000 × 20% × 15) 180000
Common stock dividend
distributable 120000
Paid-in Capital in Excess of Par
common stock 60000
7/15/17 No entry
7/31/17 Common stock dividend distributable 120000
Common stock 120000
12/1/17 No entry
12/15/17 No entry
Particulars
1. Common stock = (72000 × 2 × 5) $720,000
2. Number of shares outstanding (60000+12000)×2 144000
3. Par value per share (10/2) $5
4. Paid-in capital in excess of par (150000+60000) $210000
5. Retained earnings (150000+190000-180000) $160000
6. Total stockholders' equity $1090000
A baker knows that her customers will pay $5 for a loaf of bread, but if the marginal
utility decreases after the first loaf, how might the baker get her customers to buy more
than one loaf?
Answer: Sell at lower price
Explanation:
Marginal Utility is the amount of satisfaction that her customers will get with every additional unit of bread purchased.
If the marginal utility decreases, her customers will buy less bread because to them, it is not as valuable anymore. If she offers her bread at lower prices, the customers would buy more because the new price will align with the lower utility the customers get from the additional loaves.
Refer to the data below to answer the following questions:
Expenditure Income
C. Consumer goods and services $11,502 Wages and salaries $8,868
Corporate profits 1,686
I: Investment in plants, equipment, and inventory 2,670 Proprietor's income 1,348
G. Government goods and services 3,125 Rents 59
Interest 619
X: Exports 2,260 Taxes on output and import 1,147
Depreciation 2,647
M: Imports (2,757) Statistical discrepancy (106)
GDP: Total value of output $16,800 = Total value of income $16,800
Required:
What share of U.S. total income in 2013 consisted of
a. Wages and salaries
b. Corporate profits
Answer:
What share of U.S. total income in 2013 consisted of Wages and salaries?
The share = Wages and salaries /Total income * 100
The share = $8,868 / $16,800 * 100
The share = 0.5278571 * 100
The share = 52.79%
What share of U.S. total income in 2013 consisted of Corporate profits?
The share = Corporate profits /Total income * 100
The share = $1,686/$16,800 * 100
The share = 0.100357 * 100
The share = 10.03%
Amanda, one of Abigail's fellow workers at BOSS, was surprised to learn that her department's schedule was changed from a standard 8 a.m. to 5 p.m. day, with an hour for lunch, to a work day that began at 8 a.m. and ended at 6 p.m., and that included a two-hour lunch. BOSS was located in the far suburbs, and there was little Amanda could do during the two-hour lunch period. What especially upset Amanda was the realization that when she got off work at 6 p.m. and drove 30 minutes to pick up her child at day care, she would be at least an hour late for daycare and would have to pay a very costly penalty. There were no day care facilities closer to the job, so Amanda had little recourse. She raised this concern to her supervisor, and when she was told that the new schedules were going to remain 8-6 with a two-hour lunch, Amanda began a campaign to pressure BOSS to change that schedule back. She wrote letters to the local newspaper, and called a local TV station. When Amanda's employer learned of Amanda's actions, it discharged her under Employment at Will (EAW). Amanda filed suit for wrongful discharge, claiming that this was a public policy exception to EAW because it constrained her Constitutional First Amendment right to Freedom of Speech. Which of the following is most correct?
a. Amanda will not win her lawsuit for wrongful discharge.
b. Amanda will not win her lawsuit for wrongful discharge unless the court decides that Amanda had legal standing to bring the case.
c. Amanda will win her lawsuit for wrongful discharge unless the court decides that BOSS had legitimate business necessity for changing the schedule.
d. Amanda will win her lawsuit for wrongful discharge.
Answer: A. Amanda will not win her lawsuit for wrongful discharge.
Explanation:
Based on the information that was provided, Amanda will not win her lawsuit for wrongful discharge.
The employer-at-will simply means that an employer can dismiss his or her worker as long as it's not illegal. In this case, Amanda will not win because she's hired "at will," and in such cases, the courts will deny her any loss claim that results from her dismissal.
Huelskamp Corporation has provided the following data concerning its overhead costs for the coming year: The company has an activity-based costing system with the following three activity cost pools and estimated activity for the coming year: The Other activity cost pool does not have a measure of activity; it is used to accumulate costs of idle capacity and organization-sustaining costs. The distribution of resource consumption across activity cost pools is given below: The activity rate for the Assembly activity cost pool is closest to:
Answer:
$2.85 per labor hours
Explanation:
Note: Full question is attached below as picture
Total Overhead = Wages + Depreciation + Rent
Total Overhead = (360,000*25%) + (120,000*15%) + (180,000*35%)
Total Overhead = $90,000 + $18,000 + $63,000
Total Overhead = $171,000
Activity rate = Total Overhead / Assembly
Activity rate = $171,000 / 60,000
Activity rate = $2.85 per labor hours
Presented below are transactions related to Carla Vista Company.
1. On December 3, Carla Vista Company sold $622,200 of merchandise on account to Flint Co., terms 4/10, n/30, FOB destination. Carla Vista paid $330 for freight charges. The cost of the merchandise sold was $372,100.
2. On December 8, Flint Co. was granted an allowance of $20,300 for merchandise purchased on December 3.
3. On December 13, Carla Vista Company received the balance due from Flint Co.
Prepare the journal entries to record these transactions on the books of Carla Vista Company using a perpetual inventory system (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
No. Date Account Titles and Explanation Debit Credit
1. (To record credit sale) (To record cost of merchandise sold)
2.
3. Dec 13
Assume that Carla Vista Company received the balance due from Kingbird Co., on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.)
Date Account Titles and Explanation Debit Credit
Answer:
1. Dec 3
Dr Account receivable-Novak Co $622,200
Cr Sales revenue $622,200
Dec 3
Dr Cost of goods sold $372,100
Cr Inventory $372,100
Dec 3
Dr Freight out $330
Cr Cash $330
2. Dec 8
Dr Sales allowance $20,300
Cr Account receivable-Novak Co $20,300
3. Dec 13
Dr Cash 599,492
Dr Sales discount 2,408
Cr Account receivable-Novak Co 601,900
2. January 2
Dr Cash 601,900
Cr Casta Vista co 601,900
Explanation:
Preparation for the journal entries to record these transactions on the books of Carla Vista
1. Dec 3
Dr Account receivable-Novak Co $622,200
Cr Sales revenue $622,200
(To record credit Sales)
Dec 3
Dr Cost of goods sold $372,100
Cr Inventory $372,100
(To record cost of merchandise sold)
Dec 3
Dr Freight out $330
Cr Cash $330
(To record freight charges)
2. Dec 8
Dr Sales allowance $20,300
Cr Account receivable-Novak Co $20,300
(To record sales allowance)
3. Dec 13
Dr Cash 599,492
(601,900-2,408)
Dr Sales discount 2,408
[($622,200-$20,300)*4%]
Cr Account receivable-Novak Co 601,900
($622,200-$20,300)
2. Preparation of the journal entry to record the receipt of payment on January 2
January 2
Dr Cash 601,900
Cr Casta Vista co 601,900
($622,200-$20,300)
Which of the statements is not true about a bank run? Fears leading to bank runs can be self-fulfilling. There was a wave of bank runs during the Great Depression. Bank runs are bad for the bank affected and usually good for the bank's competitors. Deposit insurance is designed to reduce the risk of bank runs for depository banks. Since the Great Depression the government has set up regulation that has eliminated most bank runs.
Answer:
Bank runs are bad for the bank affected and usually good for the bank's competitors
Explanation:
A bank run happens when bank depositors withdraw their money deposited due to fear of the bank's solvency.
Bank runs can work as a self fulfilling prophecy. For example, if there a rumour that a bank is insolvent and it is not, depositors would start withdrawing their monies. This would eventually lead to the bank being insolvent.
Bank runs affect other banks and can lead to the collapse of the whole financial system. Bank runs occurred during the great depression
Bank runs led to the establishment of deposit insurance. The aim of deposit insurance is to increase the confidence of depositors in banks because depositors know their deposits are insured
At the International Toy Fair, you decide to study retailers to understand how to improve their experience at your booth. You recruit 100 attendees each day of the three-day convention who agree to evaluate 10 booths of their choosing and record their evaluations on digital tablets. You take pictures of each of the booths evaluated, and tally the results of these 300 online surveys. Totally you have 3,000 booth evaluations, covering more than 120 different booths. You designed a:________
a. monitoring study
b. qualitative research study
c. quantitative research study
d. causal-explanatory study
e. descriptive study
Answer:
quatitative research study
Explanation:
In Business budgets and a demand for speed usually needs or dictate a single-methodology study.
Case study is simply defined as a form of qualitative or mixed method research and it uses a form of an intense examination of an individual, group, or organization. It is often refered to as an ABA design. In single-case experimental design, it baseline data are obtained (A) the IV is introduced and behavior is measured again (B) thereafter the IV is withdrawn and behavior is observed a third time. (A)
On December 31, 2014, Oakbrook Inc. rendered services to Beghun Corporation at an agreed price of $102,049, accepting $40,000 down and agreeing to accept the balance in four equal installments of $20,000 receivable each December 31. An assumed interest rate of 11% is imputed.
Instructions:
Prepare the entries that would be recorded by Oakbrook Inc. for the sale and for the receipts and interest on the following dates. (Assume that the effective-interest method is used for amortization purposes.)
(a) December 31, 2014.
(b) December 31, 2016.
(c) December 31, 2018.
(d) December 31, 2015.
(e) December 31, 2017.
Answer:
(a) December 31, 2014.
Dr Cash 40,000
Dr Notes receivable 80,000
Cr Service revenue 102,049
Cr Discount on notes receivable 17,951
(b) December 31, 2016.
Dr Cash 20,000
Dr Discount on notes receivable 5,376
Cr Notes receivable 20,000
Cr Interest revenue 5,376
(c) December 31, 2018.
Dr Cash 20,000
Dr Discount on notes receivable 1,982
Cr Notes receivable 20,000
Cr Interest revenue 1,982
(d) December 31, 2015.
Dr Cash 20,000
Dr Discount on notes receivable 6,825
Cr Notes receivable 20,000
Cr Interest revenue 6,825
(e) December 31, 2017.
Dr Cash 20,000
Dr Discount on notes receivable 3,768
Cr Notes receivable 20,000
Cr Interest revenue 3,768
The purpose of the equivalent-unit computation is to ________. Group of answer choices satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent-units convert completed units into the amount of partially completed output units that could be made with that quantity of input predict the future production capabilities of the organization use a common metric to estimate the amount of work done on units in a period
Answer:
B)assist the business in determining the cost assigned to ending inventory and work-in-process inventory
Explanation:
THIS IS THE COMPLETE QUESTION BELOW
The purpose of the equivalent-unit computation is to ________.A)convert completed units into the amount of partially completed output units that could be made with that quantity of inputB)assist the business in determining the cost assigned to ending inventory and work-in-process inventoryC)predict the future production capabilities of the organizationD)satisfy the GAAP requirements which requires all partially completed goods to be reported as equivalent unit.
, Equivalent units in cost accounting helps to know the amount of material/ laborthat are been tied up in units as far as production is concerned it can be regarded as multiplication of units in production with percentage of units which are complete or with the one that are in process. It should be noted that The purpose of the equivalent-unit computation is to assist the business in determining the cost assigned to ending inventory and work-in-process inventory
An investor believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics. One stock is trading in yen in Japan and the other stock is a stock trading in dollars in the United States. Should the investor purchase the Japanese stock?
Answer:
No. The investor will lose money in the currency exchange if the U.S. dollar gains strength relative to the Japanese yen.
Explanation:
From the question, we are informed about An investor who believes that the U.S. dollar will rise in value relative to the Japanese yen. The same investor is considering two investments with identical risk and return characteristics. One stock is trading in yen in Japan and the other stock is a stock trading in dollars in the United States. In this case , the investor should not purchase the Japanese stock this is because he will lose money in the body of currency exchange, especially in a case whereby U.S. dollar gains strength in relative to Japanese yen.
Headland Company loans Sarasota Company $2,190,000 at 6% for 3 years on January 1, 2020. Headland intends to hold this loan to maturity and has the financial ability to do so. The fair value of the loan at the end of each reporting period is as follows. December 31, 2020 $2,238,000 December 31, 2021 2,210,000 December 31, 2022 2,190,000 Prepare the journal entry(ies) at December 31, 2020, and December 31, 2022, for Headland related to these bonds, assuming (a) it does not use the fair value option, and (b) it uses the fair value option. Interest is paid on January 1.
Answer:
A. December 31, 2020
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
December 31, 2022
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
B. December 31, 2020
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
Dr Debt Investment $48,000
Cr Unrealized Holding Gain or Loss-Income ($48,000)
December 31, 2022
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
Dr Unrealized Holding Gain or Loss-Income $20,000
Cr Debt Investments ($20,000)
Explanation:
A. Preparation of the journal entry(ies) at December 31, 2020, and December 31, 2022 assuming it does not use the fair value option,
December 31, 2020
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
($2,190,000*6%)
December 31, 2022
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
B. Preparation of the journal entry(ies) at December 31, 2020, and December 31, 2022 assuming it uses the fair value option. Interest is paid on January 1
December 31, 2020
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
Dr Debt Investment $48,000
Cr Unrealized Holding Gain or Loss-Income ($48,000)
($2,238,000-2,190,000)
December 31, 2022
Dr Interest Receivable $131,400
Cr Interest Revenue ($131,400)
Dr Unrealized Holding Gain or Loss-Income $20,000
Cr Debt Investments ($20,000)
(2,210,000-2,190,000)
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
a. 4.21
b. 15.00
c. 4.00
d. 3.75
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00
Long Company has recently tried to improve its analysis, for its manufacturing process. Units started into production equaled 6,000, and ending work in process equaled 400 units. Long had no beginning work in process inventory. Conversion costs are applied equally throughout production, and materials are applied, at the beginning of the process. How much is the materials cost per unit, if ending work in process was 25% complete, and total materials costs equaled $24,000?a. 4.21b. 15.00c. 4.00d. 3.75
Detrich Products is planning to upgrade an aging manufacturing operation five years from now at a cost of $100,000. If the company plans to deposit money into an account each year for four years beginning two years from now (first deposit is in year 2) to pay for the expansion, the amount of the deposit at 10% per year interest is closest to
Answer:
$21,547.08
Explanation:
To get the amount of the deposit, we use the PMT function of MS Excel
Rate = 10%
Nper = 4
Pv = 0
FV = -100000
PMT = ?
The amount of the deposit = PMT(Rate, Nper, PV, -FV)
The amount of the deposit = PMT(10%, 4, 0, -100000)
The amount of the deposit = 21547.08037
The amount of the deposit = $21,547.08
So, the amount of the deposit at 10% per year interest is closest to $21,547.08
ecause of coronavirus, demand for Vitamin C tablets increased significantly at CVS. CVS started to observe a weekly demand of 85 boxes of Vitamin C tablets with a standard deviation of 50 boxes. The cost of placing an order is $200, and the time from ordering to receipt is 4 weeks. The procurement cost (wholesale price) of the product is $15. The annual inventory carrying cost is 10% of the procurement cost of the product. What is the reorder point if it wants to achieve a stock out probability of 5%
Answer:
505 boxes approximately
Explanation:
The weekly demand is = d = 85 boxes
Standard deviation s = 50
Cost of placing order = $200
Ordering time = lead time L = 4 weeks
Stock out probability = 5% = 1-0.05 = 0.95
The reorder point has this formula:
(D*L)+(Z*s*√L)
To get the value of Z we use this excel function NORMSINV(0.95) = 1.644853672
When we put in values into the formula we have:
(85x4)+(1.644853672x50x2)
= 340 + 164.485
= 504.5
Approximately 505 boxes
ost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: Sales $1,326,700 Gross profit 358,200 Indirect labor 119,400 Indirect materials 49,100 Other factory overhead 22,600 Materials purchased 676,600 Total manufacturing costs for the period 1,464,700 Materials inventory, end of period 49,100 Using the above information, determine the following missing amounts: a. Cost of goods sold $fill in the blank 1 b. Direct materials cost $fill in the blank 2 c. Direct labor cost $fill in the blank 3
Answer and Explanation:
The computation is shown below
a . The cost of goods sold is
= Sales - cost of goods sold
= $1,326,700 - $358,200
= $968,500
b. The direct material cost is
= Material purchased - ending inventory - indirect materials
= $676,600 - $49,100 - $49,100
= $578,400
c, The direct labor cost is
= Total manufacturing overhead cost - other factory overhead - direct material cost - indirect material - indirect labor
= $1,464,700 - $22,600 - $578,400 - $49,100 - $119,400
= $695,200
Compare the following sets of message openers. Circle the letter of the opener that illustrates a direct opening. Write an appropriate subject line for each opening paragraph. An e-mail announcing a low-cost day-care program:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
b. For several years we have studied the possibility of offering a day-care option for those employees who are parents. until recently, our management team was unable to agree on the exact parameters of this benefit, but now some of you will be able to take advantage of this option.
Answer:
a. Employees interested in enrolling their children in our new low-cost day-care program are invited to attend an HR orientation on January 18.
Explanation:
Subject line: HR orientation regarding new day-care program.
The problem with message (b) is that it is not direct and includes a lot of information that should go further down the email, not as an opener. Information regarding previous options or how difficult this project do not belong here.
Albatross Software has two main products: WindSong is a program that can be used to edit audio files and SunBurst is a program that can be used to edit digital photos. The two major types of customers are small businesses and home users. The small business customers have a reservation price of $300 for WindSong and $450 for SunBurst. The home users have a reservation price of $100 for WindSong and $125 for SunBurst. Which of the following statements is true?
A) Bundling the two software products is not likely to be profitable because the marginal cost of producing sofware is positive by very small.
B) Bundling the two software products is not likely to be profitable because the consumer demands are homogeneous.
C) Bundling the two software products is likely to be profitable because the demands are negatively correlated
D) Bundling the two software products is not likely to be profitable because the demands are positively correlated.
Answer:
D) Bundling the two software products is not likely to be profitable because the demands are positively correlated.
Explanation:
The demand for both products I positively correlated, meaning that a user that purchases one will likely purchase the other one.
Bundling products is generally profitable when the demand for the products is not heterogenous and price discrimination is difficult. In this case, price discrimination is not difficult, and the demand is homogeneous.
Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes Group of answer choices a price and a subject. a duration and a termination. specific quality standards. an offer and an acceptance.
Answer:
an offer and an acceptance.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In this scenario, Steel Mill Inc. makes an offer to Teri to enter into a contract to work as an metallurgical engineer for a certain salary for one year subject to a five-year renewal based on his performance. Teri accepts the offer. This is a valid contract because it includes an offer and an acceptance.
name 5 kids who helped the world
Answer:’
Explanation:
The annual demand for a product has been projected at 2000 units. This demand is assumed to be constant throughout the year. The ordering cost is $20 per order, and the holding cost is 20 percent of the purchase cost. The purchase cost is $40 per unit. There are 250 working days per year. Whenever an order is placed, it is known that the entire order will arrive on a truck in 6 days. Currently, the company is ordering 500 units each time an order is placed. What level of safety stock would give a reorder point of 60 units? A. 12 B. 18 C. 10 D. 14
Answer: 12
Explanation:
The level of safety stock that would give a reorder point of 60 units goes thus:
Firstly, we should note that the formula that'll be used in calculating the reorder point will be:
= dxL + Safety stock
where,
Reorder point = 60
dxL = (2000/250) x 6 = 48
Safety stock = Unknown
We then put the values gotten into the formula which will be:
Reorder point = dxL + Safety stock
60 = 48 + safety stock
Safety stock = 60 - 48
Safety stock = 12 units
Duncan, Inc.'s unadjusted book balance showed cash balance of $1,763 before preparing the bank reconciliation. Given the bank reconciliation shows outstanding checks of $427, deposits in transit of $831, NSF check of $195, and interest earned on the bank account of $15, the company's up-to-date ending cash balance equals:$_____
Answer:
the up-to-date ending cash balance is $2,167
Explanation:
The computation of the up-to-date ending cash balance is shown below:
= Cash balance + deposit in transit - outstanding checks
= $1,763 + $831 - $427
= $2,167
Hence the up-to-date ending cash balance is $2,167
We simply applied the above formula
Rosie Dry Cleaning was started on January 1, Year 1. It experienced the following events during its first two years of operation: Events Affecting Year 1 Provided $45,000 of cleaning services on account. Collected $39,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account. Events Affecting Year 2 Wrote off a $300 account receivable that was determined to be uncollectible. Provided $62,000 of cleaning services on account. Collected $61,000 cash from accounts receivable. Adjusted the accounting records to reflect the estimate that uncollectible accounts expense would be 1 percent of the cleaning revenue on account.
Question Completion:
Show the effects of the transactions on the accounting equation for each year.
Answer:
Rosie Dry Cleaning
Effects on the accounting equation of Assets = Liabilities + Equity:
Year 1:
Assets (Accounts Receivable +$45,000) = Liabilities + Equity (Retained earnings: Service Revenue +$45,000)
Assets (Cash +$39,000; Accounts Receivable -$39,000) = Liabilities + Equity
Assets (Accounts Receivable ($450)) = Liabilities + Equity (Retained Earnings - Bad Debt Expense ($450))
Year 2:
Assets (Accounts Receivable ($300)) = Liabilities + Equity (Retained Earnings: Bad Debts Expense ($300))
Assets (Accounts Receivable +$62,000) = Liabilities + Equity (Retained Earnings: Service Revenue +$62,000)
Assets (Cash +$61,000; Accounts Receivable -$61,000) = Liabilities + Equity
Assets (Accounts Receivable ($620)) = Liabilities + Equity (Retained Earnings: Bad Debt Expense ($620))
Explanation:
a) Data and Analysis:
Year 1:
Accounts Receivable $45,000 Service Revenue $45,000
Cash $39,000 Accounts Receivable $39,000
Accounts Receivable ($450) Bad Debt Expense ($450)
Year 2:
Accounts Receivable ($300) Bad Debts Expense $300
Accounts Receivable $62,000 Service Revenue $62,000
Cash $61,000 Accounts Receivable $61,000
Accounts Receivable ($620) Bad Debt Expense ($620)
b) The accounting equation is an important concept of accounting which explains that at every given time, the assets of the business are equal to its liabilities and equity. The implication is that the entity's assets are funded by a combination of debts to third parties and owners' equity (capital contributions + retained earnings).
Hubert lives in San Francisco and runs a business that sells boats. In an average year, he receives $842,000 from selling boats. Of this sales revenue, he must pay the manufacturer a wholesale cost of $452,000; he also pays wages and utility bills totaling $301,000. He owns his showroom; if he chooses to rent it out, he will receive $38,000 in rent per year. Assume that the value of this showroom does not depreciate over the year. Also, if Hubert does not operate this boat business, he can work as an accountant, receive an annual salary of $48,000 with no additional monetary costs, and rent out his showroom at the $38,000 per year rate. No other costs are incurred in running this boat business.
Identify each of Hubert's costs in the following table as either an implicit cost or an explicit cost of selling pianos.
Implicit Cost Explicit Cost
The wholesale cost for the pianos that Hubert pays the manufacturer
The salary Hubert could earn if he worked as an accountant
The wages and utility bills that Hubert pays
The rental income Hubert could receive if he chose to rent out his showroom
Complete the following table by determining Hubert's accounting and economic profit of his piano business.
Profit
(Dollars)
Accounting Profit
Economic Profit
If Hubert's goal is to maximize his economic profit, he( should, should not) stay in the piano business because the economic profit he would earn as an accountant would be $______.
Answer:
Explicit costs are normal costs of operating a business.
Implicit costs are opportunity costs meaning that they are the benefits foregone by engaging in a certain course of action.
The wholesale cost for the pianos that Hubert pays the manufacturer ⇒ EXPLICIT COST.
The salary Hubert could earn if he worked as an accountant ⇒ IMPLICIT COST.
The wages and utility bills that Hubert pays ⇒ EXPLICIT COST
The rental income Hubert could receive if he chose to rent out his showroom. ⇒ IMPLICIT COSTS
Accounting Profit = Revenue - Explicit costs
= 842,000 - 452,000 - 301,000
= $89,000
Economic Profit = Revenue - Explicit costs - Implicit costs
= 842,000 - 452,000 - 301,000 - 38,000 - 48,000
= $3,000
If Hubert's goal is to maximize his economic profit, he should stay in the piano business because the economic profit he would earn as an accountant would be -$3,000.
Economic profit as accountant = Salary + rental income - accounting profit from piano
= 48,000 + 38,000 - 89,000
= -$3,000
The most recent financial statements for Cardinal, Inc., are shown here: Income Statement Balance Sheet Sales $23,500 Assets $121,000 Debt $31,600 Costs 16,700 Equity 89,400 Taxable income $6,800 Total $121,000 Total $121,000 Taxes (24%) 1,632 Net income $5,168 Assets and costs are proportional to sales. Debt and equity are not. A dividend of $1,560 was paid, and the company wishes to maintain a constant payout ratio. Next year's sales are projected to be $28,300. What is the external financing needed?
Answer:
$20,370.5
Explanation:
Net Profit Margin = Net Profit / Sales= 5,168 / 23500 = 0.219915 = 21.99%
Dividend Payout Ratio = Dividends / Net profit = $1,560/$5,168 = 0.3018576 = 30.19%
Increase in Assets = Total Assets / Current Sales * Change in Sales
Increase in Assets = 121,000 /23,500 * (28,300-23,500)
Increase in Assets = 5.1489362 * 4800
Increase in Assets = $24714.89
Increase in Current Liabilities = Current Liabilities / Current Sales * Change in Sales = 0
Earnings Retained = Revised sales * Net profit margin * (1- dividend payout ratio)
Earnings Retained = $28,300 * 21.99% * (1 - 30.19%)
Earnings Retained = $28,300 * 0.2199 * 0.6981
Earnings Retained = $4344.39497
Earnings Retained = $4344.39
External Financing Needed = Increase in Assets - Increase in Current Liabilities - Earnings Retained
External Financing Needed = $24714.89 - $0 - $4344.39
External Financing Needed = $20,370.5