Renaissance Gallery converts photographs to portraits via a tedious hand painting process. Costs are tracked for each painting, with gallery overhead being applied at 130% of direct labor cost.
Renaissance Gallery began June with one job in process. This job related to the Price Wedding photo, and beginning work in process included total costs of $15,500 (direct labor, direct material, and applied overhead).
During June, four new jobs were begun. These consisted of the Ramirez family portrait, the Oberweiss farm photo, the Ravenwood big fish picture, and the Zhang baby picture. The only job remaining in process at the end of June was the Ravenwood big fish picture.
To date, $14,000 in direct labor and $4,400 of direct materials had been committed to the Ravenwood job.
Total direct labor incurred on all jobs during June was $70,100 Total direct material incurred on all jobs during June was $12,700.
(a) Compute the ending work in process inventory balance and the total cost assigned to finished jobs.
A. Ending work in process 36,820
Total costs assigned to finished goods 152,960
B. Ending work in process 36,580
Total costs assigned to finished goods 152,760
C. Ending work in process 46,600
Total costs assigned to finished goods 172,830
D. Ending work in process 36,600
Total costs assigned to finished goods 152,830
E. Ending work in process 36,420
Total costs assigned to finished goods 152,940
F. None of the above
Answer:
Renaissance Gallery
The ending work in process inventory balance and the total cost assigned to finished jobs:
F. None of the above
Explanation:
a) Data and Calculations:
Overhead application rate = 130%
Beginning work in process
(Price Wedding Photo) = $15,500
Direct labor costs incurred on
all jobs during June 70,100
Direct materials costs in June 12,700
Total cost incurred to date = $98,300
Ending work in process:
Direct labor $14,000
Direct materials 4,400 $18,400
Cost assigned to finished $79,900
jobs
When gathering information which of the following task might you need to perform
Answer:
take notes, research that information
Scott really enjoys working with money, including making it grow. He is also a natural leader and would enjoy working with and leading others. Which two career clusters would best fit Scott?
Answer:
The Finance Cluster and the Managment Cluster
Explanation:
The Finance Cluster would fit Scott because he enjoys working with money, and Finance is all about money. The main subject of study of Finance is simply the the value of money across time.
The Management Cluster would also fit Scott because he enjoys working with people and being a leader. Management is all about leading groups of people, centralizing information, and taking decisions, and for all these reasons, management is likely to be a good fit for him.
Answer:
A
Explanation:
Just took the test
1) using information in this case study , estimate Mylans yearly profit.Do not include opportunity cost and assume families do not use discounts or coupons
2) 2. (1 point) Again, use information in this case study. Assume that the cost to develop the Epi-Pen was the average cost to bring a new drug to market, and that every Epi-Pen is sold at full price. At a price of $600 per two-pack, how many two-packs would be necessary to recoup the costs? What about a price of $100 per two-pack?
3) (1 point) What might cause Mylan to reduce the price of the Epi-Pen?bu
its 200
Explanation:
600-100=500-2=498 600+100=700-2=798 798-498= 200
A business must decide whether to open a new office in China. If it opens the
branch, it will increase its chances of selling a high volume of its products in
China. On the other hand, the business will have to spend a lot of money to
make the branch operational.
What would be an opportunity cost for the business if it chooses not to open
the new branch in China?
A. The business would have to open a new branch in a different
country
B. The business would increase its marginal benefits on each
product it makes
C. The business would be able to use the money it saves on other
projects.
D. The business would lose the chance to make more money in
China.
define bond economics.
Answer:
In finance, a bond is an instrument of indebtedness of the bond issuer to the holders. The most common types of bonds include municipal bonds and corporate bonds. Bonds can be in mutual funds or can be in private investing where a person would give a loan to a company or the government.
Explanation:
hope this helps...
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What is product positioning?
Answer:
Positioning refers to the place that a brand occupies in the minds of the customers and how it is distinguished from the products of the competitors and different from the concept of brand awareness
Explanation:
Make me brainliest
explain demand and supply of money
The money demand curve is downward sloping, i.e., the demand for holding money increases with decrease in interest rates. The short-term interest rate (i) is determined by the equilibrium of the supply and demand for money. If the interest rates are above the equilibrium, there is excess supply of money.
1.A.ii. Which of the following is a problem presented by ethics audits?
a) They may be used to reallocate resources.
b) They identify practises that need improvement.
c) Selecting auditors may be difficult.
d) They may pinpoint problems with stake holder relationships.
Answer:
The problem presented by ethics audits is:
c) Selecting auditors may be difficult.
Explanation:
An ethics audit is a comparison of the employees' actual ethical behaviors with the ethical guidance provided by the organization in its policies and procedures. The audit tries to review the organization's ethics codes, past ethical incidents, and the responses made by the individual employees and the organization. Through the audit, the auditor establishes a clear understanding of employees' perspectives on the organization's ethical practices.
A local college is deciding whether to conduct a campus beautification initiative that would involve various projects, such as planting trees and remodeling buildings, to make the campus more aesthetically pleasing. For the students of the college, the visual appearance of the campus is___and___. Thus, the visual appearance would be classified as a public good.
Suppose the college administrators estimate that the beautification initiative will cost $7,200. To decide whether the initiative should be undertaken, administrators conduct a survey of the college's 300 students, asking each of them their willingness to pay for the beautification project. The average willingness to pay, as revealed by the survey, is $18.
The benefit of the beautification initiative, as suggested by the survey, is $___. Because the estimated benefit is___than the cost, the college administrators____undertake the beautification initiative.
The calculation of the benefit of the beautification initiative relied on the ability of the administrators to capture the true willingness to pay of each student accurately. Which of the following scenarios would cause the survey used by the college administrators to yield misleading data on willingness to pay?
A. Students believe that if the initiative does not happen, the funds for the initiative will not be spent elsewhere.
B. An equal number of male and female students were surveyed.
Answer:
"non-rival" and "non-excludable". $18.lessshould notA. Students believe that if the initiative does not happen, the funds for the initiative will not be spent elsewhere.Explanation:
Since the project is simply about planting trees and remodeling buildings so as to make the campus more aesthetically pleasing hence for the students of the college, the visual appearance of the campus can be categorized as non-rival and non-excludable. Meaning, anybody can freely benefit from the project.
The benefit of the beautification initiative is $18 since the average willingness to pay is by the students is $18.
We can thus conclude that the estimated benefit is less than the cost since we are told that $7,200 is the entire cost of the initiative, which when compared to be amount to be contributed has a shortfall (300*$18=$5,400∠$7200). Thus, the college administrators should not undertake the beautification initiative.
the debt owed to a bank
Answer:
Bank debt is a long-term liability a business takes on by borrowing money from its bank. Companies use bank debt to pay for long-term assets such as land, buildings and equipment or to add more cash to their working capital to cover ongoing, short-term expenses
All of the following options are good tips for borrowing money EXCEPT...
A) pay back your money on time
B) consider quick cash loans with high interest rates as a C)strong option
pay back everything you owe in full
The Government using taxing and spending to stabalize the economy is called
Answer:
fiscal policy
Explanation:
Fiscal policy is the use of government spending and taxation to influence the economy. Governments typically use fiscal policy to promote strong and sustainable growth and reduce poverty.
Assume that you have entered into a swap agreement for a notional of 100M USD under which every 6 months you agree to pay LIBOR and receive 4% fixed. On the date you signed the contract LIBOR is 3%. Six months later LIBOR is 3.5%. Your actual payment net of what you receive at the first payment date equals to (- sign means you receive):____.
A) 0 USD.
B) -0.5 USD.
C) 0.5 USD.
D) -0.25 USD.
Answer:
C) 0.5 USD
Explanation:
Swap is an arrangement in which two parties exchange their interest rates for mutual benefit. One party may receive fixed rate and other will receive floating rate based on LIBOR. In the given scenario the swap agreement was originated when the LIBIOR was 3%. The fixed rate was set to be at 4% so the net gain at the time of inception was 1%. When LIBOR increased after six month the net gain declined to only 0.5%.
What is the role of executive director
Answer:
An executive director is the senior operating officer or manager of an organization or corporation, usually at a nonprofit. Similar in many ways to the CEO role in a for-profit corporation, executive directors are responsible for steering the organization and managing its operations.
Which of the following statements, if any, are correct?
1. The Automatically Assessed Formula for determining the Expected Family Contribution (EFC) requires that the student or parent's AGI is less than $50,000.
2. The Simplified Method for determining Expected Family Contribution (EFC) does not consider the family's assets in its formula
a. 1 only.
b. 2 only.
c. Both 1 and 2.
d. Neither 1 nor 2.
Answer:
The answer is "Option b".
Explanation:
In this question, Option b is correct because the self-assessment pattern suggests which all the information provided by the private entity is accurate but, without the requirement for further information from the taxpayer, the taxation responsibility of the individual shall be calculated in light of the information provided in the tax documents. for this formulation automatically evaluated AGI limited to or below 20000.
An event that took place during the "year of the environment" in 1970 is _____.
The EPA came into being.
The first national Earth Day was celebrated.
The Clean Air Act was passed.
All of the above.
Answer:
All of the above
Explanation:
The Yucatan Co. in Mexico has a division that manufactures bicycles. Its budgeted sales for Model XG in 2021 are 95,000 units. Yucatan's target ending inventory is 7,000 units, and its beginning inventory is 11,000 units. The company's budgeted selling price to its distributors and dealers is 3,500 pesos per bicycle. Yucatan buys all its wheels from an outside supplier. No defective wheels are accepted. A separate division of the company orders the extra wheels Yucatan needs for replacement parts. The company's target ending inventory is 14,000 wheels, and its beginning inventory is 16,000 wheels. The budgeted purchase price is 400 pesos per wheel.
Required:
1. Compute the budgeted revenues in pesos.
2. Compute the number of bicycles that Yucatan should produce.
3. Compute the budgeted purchases of wheels in units and in pesos.
4. What actions can Yucatan's managers take to reduce budgeted purchasing costs of wheels assuming the same budgeted sales for Model XG?
Explanation:
1. Revenue in pesos
M*G
= 95000 x 3500
= 332,500,000 pesos
2. Number of bicycle to produce
Budgeted sales for period = s = 95000
Budgeted production = BP
Ending inventory = ev
Begining inventory = bv
BP = s + ex - bv
= 95000+7000-11000
= 91000
Yucatan should produce 91000 bicycles
3. 2 wheels are used
MR = 2x91000 = 182000
Ending inventory ev = 14000
Begining inventory bv = 16000
P = MR-bv+ev
P = 182000-16000+14000
P = 180000 units of wheels to be purchased
Price = 180000x400pesos
= 72000000 pesos
4. To reduce budgeted purchase cost, the manager should only purchase the right quantity of what is needed for the production process to reduce purchased inventory and to also reduce ending inventory
Suppose that Sweden can make a unit of furniture with 10 days of labor and a unit of steel with 15 days labor, while Germany can make a unit of furniture with 12 days of labor and a unit of steel with 12 days labor.
Suppose that with free trade 1.5 units of furniture exchange for one unit of steel. Then the gains from trade
Are shared equally by the two countries
All go to Sweden
Go to neither country
None of these
Are shared by the two countries, but in an indeterminate way
Answer:
All go to Sweden.
Explanation:
The two countries Germany and Sweden both can produce furniture and steel. Germany can produce one unit of steel or furniture in 12 days while Sweden can make one unit of steel in 15 days and one unit of furniture in 10 days. Germany has no advantage from the trade since it can produce both the goods in same time. Therefore all of the trade gain would belong to Sweden.
Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is? Why? Explain.
Answer:
Net profit is more important to consider when you are deciding how successful and profitable a company is. Net profit takes into account all expenses and what your net profit is.
Explanation:
Which are examples of marketing,sales,and service workplaces? Check all that apply
A:ladoratories
B:schools
C:vehicles
D:warehouses
E:farms
F:stores
G:offices
Answer:
they are correct
Explanation:
Warehouses, stores, and offices are examples of places of employment for marketing, sales, and service. Thus, options D, F, and G are correct.
Why do individuals work in sales, marketing, and service?Most employees in these areas work there to boost product and service sales.
The vast majority of businesses depend on sales and marketing to generate revenues.
Their salespeople generate a large portion of their revenue. As a result, sales and marketing experts are highly sought after in all sectors of the economy.
It explains why marketing positions are available in every sphere of the economy.
As a result, the traditional places of employment for those in the marketing, sales, and service sectors are establishments like stores, factories, and warehouses.
In both your personal and professional life, a job in sales may provide you with stimulating and rewarding options.
The chance to become a top sales earner is available to those with the following qualities: creativity, knowledge, strategy, independence, confidence, and motivation.
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Theo Chocolate demonstrates _____ by following the same values that it states it believes in.
a. sustainability
b. integrity
c. synergy
d. entropy
Answer:
b. integrity
Explanation:
You are working with your integrated project team to sequence activities on the aircraft modification project you are leading. You are looking for the factors, constraints, and potential dependencies among project activities that can influence the way activities are sequenced, as well as help you understand the relationship between activities and the need for leads and lags. Where could you find this information?
A. Project schedule.
B. Assumption log.
C. Basis of estimates.
D. Work breakdown structure.
Hanover and Trust, a large law firm, utilizes an internal centralized printing center to serve its three departments: Individuals, Corporate, Trust. The costs of the printing department include fixed costs of $69,190 and variable costs of $0.04 per page. Total estimated print pages are estimated to be 330,000 pages. Individuals are estimated to use 130,000; Corporate will use 165,000 and 35,000 from the trust area. Assuming a single charging rate is used, what would be the charge per page?
Answer: $0.25 per page
Explanation:
Fixed costs = $69,190
Variable costs = $0.04 per page.
We calculate the fixed cost charging rate per page which will be:
= $69190 / 330000
= $0.21 per pages
Then, the total single charging rate will be the addition of the fixed cost per page and the variable cost per page:
= $0.21 + $0.04
= 0.25 per page
The charge per page is $0.25
We have the following data with which to answer this question
Fixed costs = $69190
Variable costs = $0.04
Total number to be printed = 330000
To get the fixed cost charging rate:
Fixed cost ÷ total number
= 69190/330000
= 0.21 per page is the charge.
Therefore the total charge per page would be:
0.21+0.04
= $0.25 per page
The charge per page is $0.25
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what are the consequences of unemployment
Answer:
The personal and social costs of unemployment include severe financial hardship and poverty, debt, homelessness and housing stress, family tensions and breakdown, boredom, alienation, shame and stigma, increased social isolation, crime, erosion of confidence and self-esteem, the atrophying of work skills and ill-health ...
Explanation:
unemployment has cost to a society that are more than just Financial unemployed individuals not only lose income but also faced challenges to their physical and mental health
_____ can be used for up to 90 percent of its assessed value.
Real estate
Accounts receivable
Insurance policies
Equipment
(ONLY ANSWER IF YOU ACTUALLY KNOW)
B2B marketing requires a special, unique set?
There are never shortages or surpluses when the price in a market is equal to the equilibrium price for the market.
True or False
Answer:
true
Explanation:
because that means no dead weight loss in the market
Suppose that the equilibrium real federal funds rate is 4% and the target rate of inflation is 1%. Use the following information and the Taylor rule to calculate the federal funds rate target:
Current inflation rate = 4%
Potential real GDP = $14.72 trillion
Real GDP = $14.81 trillion
The federal funds target rate is____%.
Answer: 9.81%
Explanation:
The formula to find the Federal funds target rate is:
= Current inflation + Equilibrium federal funds rate + (0.5 * (Current inflation - Target inflation rate)) + (0.5 * Output gap)
Output gap:
= (Real GDP - Potential GDP) / Potential GDP
= (14.81 - 14.72) / 14.72
= 0.611%
Federal funds target rate is:
= 4% + 4% + (0.5 * (4% - 1%)) + (0.5 * 0.611%)
= 9.8055%
= 9.81%
Fulton Company's price-earnings ratio is 8.0 and the market
price of a share of common stock is $32. The company has 3,000
shares of preferred stock outstanding with each share receiving
a dividend of $3 per share. The earnings per share of common
stock is:
a. $10.
b. $7.
c. $4.
d. $3.
Answer:
c. $4
Explanation:
price-earnings ratio = stock price / earnings per share
8 = $32 / earnings per share
earnings per share = $32 / 8 = $4
the company's total earnings = earnings per share x total outstanding shares
earnings per share = (total earnings - preferred dividends) / outstanding common stocks