The amount of the cost of goods sold, using the perpetual inventory system, is $120.
What is the perpetual inventory system?The perpetual inventory system is an inventory management system that records all inventory transactions as they occur and not at the end of the accounting period when inventory counts are carried out.
It is the opposite of the periodic inventory system. Using the perpetual inventory system, entries are made directly to the inventory account and the cost of goods sold with each inventory transaction.
Data and Calculations:Beginning inventory 3 units at $20 = $60
April 10 Purchase 5 units at $20 = $100
Total cost of goods available for sale = $160
April 12 Sales 6 units
Ending inventory = 2 (8 - 6) = $40
Cost of goods sold = $120 ($20 x 6) or ($160 - $40)
Thus, the amount of the cost of goods sold, using the perpetual inventory system, is $120.
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Required information Skip to question [The following information applies to the questions displayed below.] Suresh Company reports the following segment (department) income results for the year. Department M Department N Department O Department P Department T Total Sales $ 74,000 $ 40,000 $ 67,000 $ 50,000 $ 35,000 $ 266,000 Expenses Avoidable 13,300 40,600 23,000 17,500 44,100 138,500 Unavoidable 54,600 16,800 4,900 39,100 14,700 130,100 Total expenses 67,900 57,400 27,900 56,600 58,800 268,600 Income (loss) $ 6,100 $ (17,400) $ 39,100 $ (6,600) $ (23,800) $ (2,600) b. Compute the total increase in income if the departments with sales less than avoidable costs, as identified in part a, are eliminated.
a) The segmented income statements for Suresh Company are as follows:
Dept M Dept N Dept O Dept P Dept T Total
Total Sales $ 74,000 $ 40,000 $ 67,000 $ 50,000 $ 35,000 $266,000
Avoidable
Expenses 13,300 40,600 23,000 17,500 44,100 138,500
Contribution $60,700 ($600) $44,000 $32,500 ($9,100) $127,500
Unavoidable 54,600 16,800 4,900 39,100 14,700 130,100
Income (loss) $6,100 $ (17,400) $ 39,100 $ (6,600) $(23,800) $(2,600)
b) The computation of the total increase in income, if the departments with sales less than avoidable costs identified in part a are eliminated, is $9,700 ($7,100 + $2,600).
What is a segmented income statement?A segmented income statement is an income statement that breaks down the revenues and expenses by business units, such as product line, location, department, salesperson, or territory.
Preparing segmented income statements helps management to:
Identify underperforming segmentsDevelop strategies for boosting profits.Data and Calculations:Segmented Income Statements before the elimination of Departments with sales less than avoidable costs:
Dept M Dept N Dept O Dept P Dept T Total
Total Sales $ 74,000 $ 40,000 $ 67,000 $ 50,000 $ 35,000 $266,000
Avoidable
Expenses 13,300 40,600 23,000 17,500 44,100 138,500
Contribution $60,700 ($600) $44,000 $32,500 ($9,100) $127,500
Unavoidable 54,600 16,800 4,900 39,100 14,700 130,100
Income (loss) $6,100 $ (17,400) $ 39,100 $ (6,600) $(23,800) $(2,600)
Segmented Income Statements after the elimination of Departments with sales less than avoidable costs:
Dept M Dept O Dept P Total
Total Sales $ 74,000 $ 67,000 $ 50,000 $191,000
Avoidable Expenses 13,300 23,000 17,500 53,800
Contribution Margin $60,700 $44,000 $32,500 $137,200
Unavoidable Expenses 54,600 4,900 39,100 130,100
Income (loss) $6,100 $ 39,100 $ (6,600) $7,100
Increase in income = $9,700 ($7,100 - ($2,600)
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Hi guys, i need urgently some help with this question
Explain the benefits and drawbacks of using either ARR (Accounting Rate of Return)
or PP (Payment Period) instead of NPV (Net Present Value) as a measure of Return
on Investment when considering alternative capital projects?
Answer:
Accounting rate of return, also known as the Average rate of return, or ARR is a financial ratio used in capital budgeting. The ratio does not take into account the concept of time value of money. ARR calculates the return, generated from net income of the proposed capital investment. The ARR is a percentage return. Say, if ARR = 7%, then it means that the project is expected to earn seven cents out of each dollar invested (yearly). If the ARR is equal to or greater than the required rate of return, the project is acceptable. If it is less than the desired rate, it should be rejected. When comparing investments, the higher the ARR, the more attractive the investment. More than half of large firms calculate ARR when appraising projects.
Explanation:
hope this helps
Ngwenya (Pty) Ltd incurred the following legal expense during the 2022 year of assessment ended 28 February 2022: i) R7 000 legal costs for debt collection. ii) R22 000 legal costs relating to the drawing up of an agreement to purchase a piece of land. iii) R48 000 relating to a dispute with a client of Ngwenya (Pty) Ltd who sued the company for supplying incorrect goods. Ngwenya (Pty) Ltd's lawyers were successful in defending the company on this matter. Determine the amount that is deductible by Ngwenya (Pty) Ltd relating to legal fees. a. R7 000 b. R55 000 c. R77 000 d. R29 000
If the company incurred legal expense during the 2022. The amount that is deductible by Ngwenya (Pty) Ltd relating to legal fees is R29,000.
Legal expenses deductibleUsing this formula
Legal expenses deductible= Legal costs for debt collection+ Legal costs relating to the drawing up of an agreement
Let plug in the formula
Legal expenses deductible=R7 000 +R22,000
Legal expenses deductible=R29,000
Therefore the amount that is deductible by Ngwenya (Pty) Ltd relating to legal fees is R29,000.
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How much notice must the landlord give you before entering your apartment (except in an emergency)?
Answer:
24 hours - 5 days.
Explanation:
In most states, they require your landlord to give you a 24-hour notice before entering your apartment (or sometimes 5 days).
Ted is very worried about his friend Jamie. Jamie has been
going out every night, drinking, getting high and not coming
to class. He keeps missing Business Law, which everyone
knows is the most important class. Ted tells Jamie that if
he stops drinking every night and doing drugs, Ted will take
him on a cruise to Mexico at the end of the semester. Jamie
agrees and he stops partying. His grades improve, even in
Business Law, and he finishes the semester. Jamie is super
excited about the trip and askes Ted when they are leaving
for the cruise. Ted tells Jamie that there is no trip, it was
just an incentive to get him to stop partying. Ted
congratulates himself on his good work!
Discuss this situation using LEGAL CONCEPTS we learned
in class.
The best explanation of the given scenario using law terms is that Ted got Jamie to become more productive under false pretexts.
What is False Pretext?
This refers to the use of false representation in order to get someone to do something or give out somethinng.
Hence, in this case, Ted made use of false pretext of a trip to motivate his friend Ted to take his studies and this works for him, but at the end of the semester, he finds out that there is no trip.
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Annual dividends of ATTA Corp grew from $0.96 in 2005 to $1.76 in 2017. What was the annual growth rate
Based on the dividends of ATTA Corp over the years, the annual growth rate was 5.18%.
What was the annual growth rate?Using the present value equation:
Current dividend = Original dividend x ( 1 + rate) ^ number of years
Solving gives:
1.76 = 0.96 x ( 1 + r)¹²
(1.76 / 0.96 )¹/¹² = 1 + r
1 + r = 1.0518
r = 5.18%
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Explain the role of an Equality Officer in industrial relations
Explanation:
that the company and employees are apply by all government equal rights laws
a. The Kretovich Company seeks the following financial statistics in the coming year to attain a competitive advantage over its industry competitors. Quick ration = 1.4 Current ratio = 3.0 DSO = 36.5 days on a 365-day year. Its total current assets = $800,000 and cash and marketable securities of $100,000. Based on the data given, what is Kretovich’s estimated revenue or sales at year end? Suppose Kretovich’s pays its suppliers of materials every 30 days, that is, the firm’s days payables outstanding is 30 days, what is the speed at which Kretovich Company accrues cash flows? Hint, find the company’s cashflow conversion cycle.
1) Based on the data given, Kretovich Company's estimated revenue or sales at year-end is $2,780,000.
2) The speed at which Kretovich Company accrues cash flows if it pays its suppliers every 30 days is 61.5 days, which is given by the cash conversion cycle.
What is the cash conversion cycle?The cash conversion cycle represents the days that it takes for a company to convert its investments in inventory and other resources into cash flows from sales.
The cash conversion cycle can be computed with the following formula:
Cash Conversion Cycle = DIO + DSO – DPO
Where:
DIO = Days Inventory Outstanding
DSO = Days Sales Outstanding
DPO = Days Payable Outstanding
Data and Calculations:Quick ratio = 1.4
Current ratio = 3.0
DSO = 36.5 days on a 365-day year.
Current assets = $800,000
Cash and marketable securities = $100,000
Using the current ratio of 3.0, the current liabilties = $270,000 ($800,000/3.0)
Current assets other than inventory = $378,000 ($370,000 x 1.4)
Inventory = $422,000 ($800,000 - $378,000)
Accounts receivable = $278,000 ($800,000 - $422,000 - $100,000)
Sales revenue = $2,780,000 ($278,000 x 365/36.5)
DIO = average (or ending) inventory balance by COGS and multiplying by 365 days.
Here, we shall use the sales figure in place of the cost of goods sold as follows:
DIO = $422,000/$2,780,000 x 365
= 55 days
Cash conversion cycle (or DIO + DSO – DPO).
= 61.5 days (55 + 36.5 - 30)
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PLEASE ANSWER
Which is an example of collateral consequences?
A. A craft store owner who sold defective blankets must pay
back her customers' money.
B. A man who stole computers from his company wears an
ankle monitor for one year.
C. A clerk who stole credit card information cannot get a job
after his release from prison.
D. A woman who ran a red light at a busy intersection must
pay a substantial fine.
Answer:
C.
Explanation:
Collateral consequences are legal and regulatory restrictions that limit or prohibit people convicted of crimes from accessing employment, business and occupational licensing, housing, voting, education, and other rights, benefits, and opportunities.
In this scenario, the clerk cannot get a job anymore after he stole credit card information. He cannot be trusted anymore due to his actions.
The example of collateral consequences is a clerk who stole credit card information cannot get a job after his release from prison. Thus option (C) is correct.
What is collateral consequences?Collateral consequences refer to the additional penalties or legal disabilities that result from a criminal conviction or arrest, beyond the direct sentence imposed by the court.
These consequences can include loss of voting rights, difficulty finding employment or housing, ineligibility for government assistance programs, and restrictions on the ability to obtain professional licenses or own firearms, among others.
A clerk who stole credit card information cannot get a job after his release from prison is an example of collateral consequences. Therefore, option (C) is correct.
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Fix the incorrect red boxes
Based on the given entries, the incorrect red box to be fixed is the Aug 1 entry of $0.
What should the Pain in capital - Common stock account look like?From the given transactions, the entries in the Paid in Capital in excess of stated value - Common Stock should be:
Credit ⇒ Jan. 10 $231,000Credit ⇒ Apr. 1 $9,500Credit ⇒ May. 1 $114,000Credit ⇒ Sep. 1 $42,000Credit ⇒ Dec 31 Bal $396,500There should be no entry on Aug 1 of $0 because the common stock issued matches the attorney fees of $36,000.
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The semiannual interest payment on a $10,000, 5% bond would be
a. $25.
b. $250.
c. $500.
d. $2,500.
Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $90,000 $70,000 2021 $80,000 $100,000 How much of your client's applicable credit is used by the 2021 gifts only
Based on the Unified Federal Estate and Gift Tax Rates table, the amount of your client's applicable credit used by the 2021 gifts only is D) $11,080.
What is the applicable gift tax credit?The applicable credit allows a taxpayer to transfer a certain amount of assets during their life without incurring the gift tax.
The unified tax credit for a couple filing jointly for 2021 is $30,000. Based on the Unified Federal Estate and Gift Tax Rates table, the applicable credit for 2021 is $11,080 ($30,000 x 36.93%).
Data and Calculations:Year Total Gifts to Son Total Gifts to Daughter Total Gifts
2014 $90,000 $70,000 $160,000
2021 $80,000 $100,000 $180,000
Applicable credit for 2021 = $30,000
Gift usage of the applicable credit = $11,080 ($30,000 x 36.93%)
Answer Options:A) $16,320
B) $24,400
C) $58,800
D) $11,080
Thus, based on the Unified Federal Estate and Gift Tax Rates table, the amount of your client's applicable credit used by the 2021 gifts only is D) $11,080.
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Which of the following statements identifies a key difference between a job description and a job specification?
A. A job description is concerned with the short-run objectives of a job, but a job specification is concerned with the job's long-run objectives
B. A job description is based on a human resource inventory, while a job specification is the result of a performance appraisal.
C. A job description is a statement about the job, while a job specification is a statement about the person who does the job.
D. A job description is a brief summary of what a job involves, while a job specification is a detailed and technically complete statement of what a job
involves
A key difference between a job description and a job specification is as follows:
C. A job description is a statement about the job, while a job specification is a statement about the person who does the job.
How is a job description different from a job specification?A job description is concerned with the following issues about the job:
Job titleJob locationJob summaryWorking environmentDuties, etc.A job specification is concerned with the following matters about the job holder:
QualificationsExperienceTrainingSkillsEmotional attributesMental capabilities.Thus, a key difference between a job description and a job specification is Option C.
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The town of Newton, Iowa, has a population of only 15,800, with 4,000 employed by the Maytag manufacturing plant located there. This situation would be an example of Choose one: A. a monopoly. B. derived demand. C. a monopsony. D. economic rent.
Based on the situation in the town of Newton, we can refer to this as an example of a C. Monopsony.
What is a Monopsony?This refers to an economic situation where there is only one buyer for the goods and services being supplied.
The situation in Newton is a monopsony because Maytag Manufacturing seems to be the only or at the very least, the major buyer of the town's labor.
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Assume the manager is located at point B in the diagram above, and he is charging a price of P0. What does the demand for the firm's goods look like if the management anticipates that rivals would not match price reductions but will match price rises instead of price decreases?
The demand for the firm's goods based on the diagram given and the current price is elastic.
Why is the price elastic?Demand is said to be elastic when quantity demanded decreases when prices increase, and vice versa.
Looking at the graph, if there is a price increase by management, the demand will decrease as shown by the space on the blue line above quantity B.
If prices reduce however, the demand increases as shown by curve D₂.
In conclusion, the demand is elastic.
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Explain the impact of intonation when used appropriately to support intentions
The impact of intonation is that it helps to stress or convey information beyond what is being said.
What is intonation?This term is used to refer to the pitch of a person's tone or voice while they are speaking. It is the rise and the fall in their voice.
The kind of intonation a person has while talking can tell you to an extent how they are feeling.
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Based on the laws of supply and demand, which of the jobs in the ad is MOST LIKELY to offer the highest salary?
A
engineer
B
day care teacher
C
dishwasher
D
cashier
Answer:
A
Explanation:
Because an engineer is a harder job to get and is needed so the demand is high and the supply is low
Shop A charges $275.00 for an oil change and has a gross oil profit percent of 39.1% for its total oil gross profit %. Shop B charges $275.00 for an oil change and has a gross oil profit percent of 28.4% for its total oil gross profit %. Both shops pay $21.25 per gallon of oil. What is the Profit per Lube for Shop A?
The profit per Lube for Shop A is $8.31.
What is the profit per unit?The profit per unit can be obtained by subtracting the cost of the product from the sale price.
Data and Calculations:Sales price per oil change = $275
Gross profit percent per oil = 39.1%
Cost of oil per gallon = $21.25
Selling price per gallon = $29.56 ($21.25 x 1.391)
Gross profit = $8.31 ($29.56 - $21.25)
Thus, the profit per Lube for Shop A is $8.31.
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The interest rate to be paid on the face amount of the bond is called the
a. contract rate.
b. effective rate.
c. discount rate.
d. premium.
A movement downward and to the right along a demand curve is called a(n) Group of answer choices increase in demand. decrease in demand. decrease in quantity demanded. increase in quantity demanded.
When there is an increase in quantity demanded, there will be a movement downward and to the right along a demand curve.
What is a demand curve?On a demand graph, the curve shows the relationship between the price of a good and quantity demanded for its at a given period of time.
However, when there is an increase in quantity demanded, there will be a movement downward and to the right along a demand curve.
Therefore, the Option A is correct.
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Monroe minerals company purchased a copper mine for a 126,500,000 the mine was expected to produce 50,000 tons of copper over its useful life during year won the company extracted 7300 tons of copper the copper was sold for $5800 per ton assuming that the company incurred 8,855,000 and operating expense during year one based on this information how much net income would Monroe report in year 1
Answer:
I think it would be B
Explanation:
hope this helps if not please let me know
What is average of numbers on b4:b12
The average of numbers on b4:b12 is the sum of (b4:b12)/9.
What is an average?An average is a central value of some numbers. An average value can be referred to as the mean, median, or mode because an average typically represents a group of numbers (or data set).
Thus, when the numbers contained in the data set, b4:b12, are summed and divided by 9, the arithmetic average (mean) is found. The mode can also be discovered in the data set by looking for the number that appears most among the nine numbers.
Another average value that we can compute is the median, which refers to the middle number 8 (b8) between b4 and b12, especially after they are sorted in ascending or descending order.
Thus, the average of numbers on the b4:b12 range can simply mean the sum of (b4:b12)/9.
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The constraint on deposit creation related to the willingness of consumers, businesses, and governments to borrow the money that banks make available is related to ______.
The willingness of consumers and governments to borrow money that banks make available is related to financial inclusion.
What is Financial inclusion?Financial inclusion is the access an individual has to financial products such as loan and other credits facilities.
They also have access to services that meet their
financial needs.
Therefore, the constraint on deposit creation related to the willingness of consumers, businesses, and governments to borrow the money that banks make available is related to financial inclusion.
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Name any three (3) tests that Hornbill Holdings can use to assess the graduates
Three tests that can be used to assess graduates include:
Skills and knowledge psychometric tests. Ability and aptitude psychometric tests. Personality tests. What are some tests that can be used to test graduates?A skills and knowledge psychometric test will allow Hornbill Holdings to find out how knowledgeable a graduate is in their industry and its processes.
They can also use an ability and aptitude test to find out how adaptive the graduate is to new situations.
Personality tests can then find out if the graduate has the right type of personality for the culture at Hornbill Holdings.
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Which of the following will be shown
with an amortization table?
A. The decrease in interest paid over time.
B. The increase in interest paid over time.
C. The decrease in money needed over time.
D. The increase in money needed over time.
Answer: the answer is A
Explanation:
A: the decrease in interest paid over time
Because an amortization table show you how your payment breaks down to principal paid and interest paid, and will also keep track of how much principal you have left to pay
A manager with _____ skills has the ability to deal effectively with people inside and outside the organization.
Answer:
Interpersonal
Explanation:
PLEASE MARK ME AS BRAINLIEST AND HAVE A NICE DAY :)
Any portion of the bonds payable that is due within one year is
a. reported as a current liability on the balance sheet.
b. reported as a noncurrent liability on the balance sheet.
c. disclosed in the notes to the financial statements only.
d. not reported or disclosed in any way.
Dax is an architect who wants to be able to let clients walk through a digital version of a house before the house is actually built. Which of the following should be used to create that experience?
Virtual Reality can be used by Dax, so that his client will be able to walk through a digital version of a house before actual building.
What is Virtual Reality?Virtual Reality can be regarded as a computer-generated environment which looks like a real life environment with scenes and objects .
Therefore, Dax can use Virtual Reality to shows his clients about his house digitally.
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Answer: Virtual Reality
Explanation:
Discuss the benefits of timely, appropriate, detailed information. How can a value be assigned to these characteristics?
Detailed information helps in making timely decision in an organization on what to do and how to do them.
What is information?Information are those facts or findings about a subject that has been learned either through research about something or an individual.
Benefits of detailed information include;
It helps in making timely decision in an organization.
It helps to manage resources appropriately.
Therefore, value can be assigned based on how important this benefits are to the organization or individual.
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The quantity theory of money states
that MV = PQ.
Given:
M= 30
V = 50
P = 10
What value would "Q" need to be to balance
the equation?
A. 50
B. 100
3. 150
Answer:
3. 150
Explanation:
Substitute the letters for the numbers and solve.
MV = PQ=
30×50 = 1500
10 × 150 = 1500
Q= 150
