Oasis Company adds all materials at the beginning of its manufacturing process. Production information for selected months of the year follows:
E3-5 (Algo) Weighted-Average Method [LO 3-2, 3-3] Beginning Work in Process Ending Work in Process Conversion Conversion
Complete Units Units Complete
Months Untis (percent) Started Transferred out Units Percent
February 1300 46 --- 19400 6600 24 June 4300 75 24100 --- 3800 39September --- 27 25600 25600 2400 60December 2900 35 22400 21100 --- 73 Equivalent UnitsMonth Material Conversion February June September December
Required:
1. Reconcile the number of physical units to find the missing amounts.
2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted-average method.
Answers
Answer:
Please see solution below and attached
Explanation:
1. To calculate the number of physical units worked on and the missing figures, we will make use of the formula below;
Beginning inventory + Started = Transferred out + Ending inventory
For February,
1,300 + Started = 19,500 + 6,600
Started = 24,700
For June,
4,300 + 24,100 = Transferred out + 3,800
Transferred out = 24,600
For September,
Beginning inventory + 25,600 = 25,600 + 2,400
Beginning inventory = 2,400
For December,
2,900 + 22,400 = 21,100 + Ending inventory
Ending inventory = 4,200
2. Calculate the number of equivalent units for both materials and conversion for each month using the weighted average method.
• Please find attached detailed solution to question number 2.
Related Questions
Although fiscal policy may theoretically achieve the desired result in an economy, the time it takes for it to be approved and implemented, known as
Answers
Answer:
The appropriate answer is "time lag".
Explanation:
The time taken towards enacting a program after it has been accepted is referred to those as time lag. The consequences of interventions are not necessarily recognized throughout the economy due to various time lags. Therefore, although monetary policy, described as time lag, will potentially produce the expected outcome during an economy, the time it would take to be accepted as well as enforced.Select the correct answer from each drop-down menu.
As a sales executive at a large corporation, Sonya earns____
the company's finance department as an accountant, earns
for every big sale she makes. Jessica, who works full time in the company’s finance department as an accountant, earns ____
1. a) a bonus
b) a commission
c) hourly pay
2. a)a bonus
b)a commission
c) a fixed salary
Answers
2) is fixed salary. Hourly pay usually applies to lower levels and fixed salaries are for higher level, executive, employees
The Answer of First question is option B "a Commission", and answer for second question is option C "A Fixed Salary".
Types of EarningIn a Corporate and private sector, there are many different kinds of earning, such as a fixed salary, a commission or a bonus depends upon the job a person has.
In the First question Sonya is a sales executive, and we know sales is a commission based job, hence the correct option would be A Commission. A bonus is given for completing overall job target.
In the second question, Jessica who works full time as an Accountant which means her job is based on a fixed salary rather than a commission because she is providing professional service to the company. Hence the correct option would be Option C Fixed Salary.
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Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.73 direct labor-hours. The direct labor rate is $11.60 per direct labor-hour. The production budget calls for producing 6,500 units in April and 6,300 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy. What would be the total combined direct labor cost for the two months
Answers
Answer:
April= $63,568
May= $63,568
Total cost= $127,136
Explanation:
Giving the following information:
Each unit of output requires 0.73 direct labor-hours.
The direct labor rate is $11.60 per direct labor-hour. T
The company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy.
First, we need to calculate the direct labor hours required for each month.
Direct labor hours:
April= 0.73*6,500= 4,745 hours
May= 0.73*6,300= 4,599 hours
Now, we can calculate the direct labor cost for each month:
Direct labor cost:
April= 11.6*5,480= $63,568
May= 11.6*5,480= $63,568
Gould Corporation uses the following activity rates from its activity-based costing to assign overhead costs to products: Activity Cost Pool Activity Rate Setting up batches $ 59.71 per batch Processing customer orders $ 73.05 per customer order Assembling products $ 4.40 per assembly hour Data concerning two products appear below: Product K91B Product F65O Number of batches 92 63 Number of customer orders 42 56 Number of assembly hours 496 903 How much overhead cost would be assigned to Product K91B using the activity-based costing system? (Round your intermediate calculations and final answers to 2 decimal places.)
Answers
Answer:
Total allocated costs= $10,743.82
Explanation:
Giving the following information:
Activity Cost Pool Activity Rate
Setting up batches $ 59.71 per batch
Processing customer orders $ 73.05 per customer order
Assembling products $ 4.40 per assembly hour
Product K91B:
Number of batches 92
Number of customer orders 42
Number of assembly hours 496
To allocate overhead, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Setting up= 59.71*92= 5,493.32
Processing= 73.05*42= 3,068.1
Assembling= 4.40*496= 2,182.4
Total allocated costs= $10,743.82
the president is considering placing a tariff on the import of japanese luxury cars. Using the model presented in this chapter, discuss the economics and politics of such a policy. In particular, how would the policy affect the U.S. trade deficit
Answers
Answer:
In the clarification portion below, the definition of the list of questions is mentioned.
Explanation:
The premium car tariff will have little effect on net exporting as it does not affect national savings or spending. However, reducing U.S. demand for auto component imports, it will change the NX curve. This move in the curve would improve the number of trade. There will be no shift in net exports since the value of all exporters and importers will decrease by the same level. The conceptual consequences of this approach are therefore significant. On the industrial side, the elevated exchange rate raises shipments and places strain on American companies' profits, except for American tariff-shielded premium car production. The stronger currency would also affect American export markets, making their import duties increasingly costly towards foreign nations.The tariffs would harm buyers of Japanese luxury vehicles, while all other customers would benefit from either the valued currency, which helps them to buy products at a lower cost.The U.S. Senate has 100 members. Suppose there are 54 Republicans and 46 Democrats. A committee of 15 senators is selected at random. What is the expected number of Republicans on this committee? 9.0 7.1 8.1 6.7
Answers
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year: Ending Balances Cash ? Accounts receivable $ 10,100 Supplies inventory $ 4,600 Equipment $ 44,000 Accumulated depreciation $ 17,800 Accounts payable $ 3,800 Common stock $ 5,000 Retained earnings ? The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.
Answers
Answer:
Mecca Copy
Budgeted Balance Sheet
Ending Balances Cash $22,300
Accounts receivable $ 10,100
Supplies inventory $ 4,600
Equipment $ 44,000
Accumulated depreciation $ 17,800 $26,200
Total Assets $63,200
Accounts payable $ 3,800
Common stock $ 5,000
Retained earnings $54,400
Total Liabilities + Stockholders' Equity $63,200
Explanation:
a) Data and Calculations:
Ending Balances Cash ?
Accounts receivable $ 10,100
Supplies inventory $ 4,600
Equipment $ 44,000
Accumulated depreciation $ 17,800 $26,200
Total Assets $
Accounts payable $ 3,800
Common stock $ 5,000
Retained earnings ?
Beginning Retained Earnings = $37,000
Net Income = 21,700
Dividends = (4,300)
Ending Retained Earnings = $54,400
Cash = Total assets - Accounts receivable - Inventory - Equipment
Which one of the following statements regarding collaborative planning, forecasting, and replenishment (CPFR) systems is best? Question 10 options: A) In CPFR, each business develops a sales and operations plan and the mainframe system reconciles these plans to find a middle ground that all businesses work towards. B) CPFR is a set of business processes. C) CPFR has the Project Management Body of Knowledge (PMBOK©) as its basis. D) Studies have demonstrated that manual, paper-based CPFR systems are more responsive and more accurate than computer-based CPFR systems.
Answers
Answer:
B) CPFR is a set of business processes.
Explanation:
Collaborative Planning, forecasting and replenishment (CPFR) as a process has always been considered to be a set of business processes. The major aim of Collaborative Planning, forecasting and replenishment (CPFR) is to improve operational efficiency and manage inventory. CPFR allows members of the supply chain to share forecasting, demand, and inventory information with one another allowing for reduced costs and increased demand.
Airdrive Corporation reported net income of $150,000 for 2019 and $165,000 for 2020. Early in 2020, Airdrive discovers that the December 31, 2019 ending inventory was overstated by $8,100. For simplicity, ignore taxes. Required: 1. What is the correct net income for 2019? For 2020? Net Income 2019 $ 2020 $ 2. Assuming the error was not corrected, what is the effect on the balance sheet at December 31, 2019? At December 31, 2020? December 31, 2019 December 31, 2020
Answers
Answer:
Please see answers below
Explanation:
1. 2019 net income would be $141,900
[$150,000 - $8,100] = $141,900
2020 net income would be $173,100
[$165,000 + $8,100] = $173,100
2. We assumed that if the error committed for both year 2019 and 2020 are not corrected, them same income for both year stands.
2019 $165,000
2020 $150,000
It means that balance sheet of 2019 remains overvalued by $8,100
Answer:
Poop
Explanation:
Yarra Fabrication estimates that its manufacturing overhead will be $2,348,800 in year 1. It further estimates that direct material costs will amount to $1,468,000. During July, Yarra worked on four jobs with actual direct materials costs of $77,000 for Job 0701, $108,000 for Job 0702, $140,000 for Job 0703, and $69,000 for Job 0704. Actual manufacturing overhead costs for the year were $2,485,000. Actual direct materials costs were $1,635,000. Manufacturing overhead is applied to jobs based on direct materials cost using predetermined rates. Required: A. How much overhead was applied to each of the four jobs, 0701, 0702, 0703, and 0704?B. What was the over- or underapplied manufacturing overhead for year 1?
Answers
Answer:
predetermined overhead rate = $2,348,800 / $1,468,000 = 160% of direct materials
a) applied overhead rate to:
Job 0701 = $77,000 x 1.6 = $123,200Job 0702 = $108,000 x 1.6 = $172,800Job 0703 = $140,000 x 1.6 = $224,000Job 0704 = $69,000 x 1.6 = $110,400b) actual overhead rate = $2,485,000 / $1,635,000 = 152%
overhead cost that should have been applied:
Job 0701 = $77,000 x 1.52 = $07,040Job 0702 = $108,000 x 1.52 = $164,160Job 0703 = $140,000 x 1.52 = $212,800Job 0704 = $69,000 x 1.52 = $104,880Overhead costs were overapplied since real overhead was lower. The actual overhead rate was 1.52, while the predetermined rate was 1.6, so overhead costs were overapplied by 0.08 or 8%. Since total materials costs were $1,635,000, then overhead costs were overapplied by $1,635,000 x 0.08 = $130,800
Recording sales, returns, and discounts taken LO P2 Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method.
Apr. 1 Sold merchandise for $3,000, with credit terms n/30: invoice dated April 1. The cost of the merchandise is $1800
Apr. 4 The customer in the April 1 sale returned $300 of merchandise for full credit. The merchandise, which had cost $180 ,is returned to inventory
Apr. 8 Sold merchandise for $1,000, with credit terms of 1/10, n/30: invoice dated April 8. Cost of the merchandise is $700
Apr. 11 Received payment for the amount due from the April 1 sale less the return on April 4.
Answers
Answer and Explanation:
The journal entries are shown below:
1. Account Receivable $3,000
To Sales $3,000
(Being sale is recorded)
2. Cost of Goods Sold $1,800
To Merchandise $1,800
(Being the cost of goods sold is recorded)
3. Sales Return $300
To Account Receivable $300
(Being sales return is recorded)
4. Merchandise $180
To Cost of Goods Sold $180
(being cost return is recorded)
5. Account Receivable $1,000
To Sales $1,000
(Being sale is recorded)
6. Cost of Goods Sold $700
To Merchandise $700
(Being the cost of goods sold is recorded)
7. Cash $2,700 ($3,000 - $300)
To Account Receivable $2,700
(Being payment receipt is recorded)
Larcker Manufacturing's cost accountant has provided you with the following information for January operations. Direct materials $ 39 per unit Fixed manufacturing overhead costs $ 220,000 Sales price $ 200 per unit Variable manufacturing overhead $ 21 per unit Direct labor $ 28 per unit Fixed marketing and administrative costs $ 190,000 Units produced and sold $ 5,500 Variable marketing and administrative costs $ 8 per unit Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement.
Answers
Answer:
a) gross margin income statement
Sales revenue $1,100,000
COGS ($704,000)
Gross profit $396,000
Operating expenses:
variable M&A $44,000fixed M&A $190,000 ($234,000)Operating income $162,000
b) contribution margin income statement
Sales revenue $1,100,000
Variable costs:
direct materials $214,500direct labor $154,000variable overhead $115,500variable M&A $44,000 ($528,000)Contribution margin $572,000
Period costs:
fixed overhead $220,000fixed M&A $190,000 ($410,000)Operating income $162,000
Explanation:
sale price per unit = $200
total variable costs per unit:
direct materials $39 direct labor $28variable overhead $21variable marketing and adm. $8total = $96 per unitcontribution margin per unit = $200 - $96 = $104
period costs = $220,000 (overhead) + $190,000 (marketing and adm.) = $410,000
total sales revenue = $1,100,000
total COGS:
direct materials $39 x 5,500 = $214,500direct labor $28 x 5,500 = $154,000variable overhead $21 x 5,500 = $115,500fixed overhead = $220,000total = $704,000operating expenses:
variable marketing and adm. $8 x 5,500 = $44,000fixed marketing and adm. = $190,000total $234,000PLEASE HELP!!! I need to come up with a store that would be convenient in a high school. It can be one that sells food, etc.
Answers
Which of the following is a way to use credit responsibly? Question 1 options: Paying only the minimum payment each month Understanding the account's interest rate Opening several different credit accounts
Answers
Understanding the account's interest rate is a way to use credit responsibly. Thus, option C is correct.
What is credit?Credit can be defined as an agreement that is seen between two parties. According to this agreement, there is a lender and a borrower. The person who gives the money is called a lender whereas the person who takes the money is called as a borrower. They give the money on the basis of a time period and sometimes on an interest rate.
To understand credit and its responsibilities by calculating and understanding what will be the monthly interest rate at which the money is being borrowed.
This represents the monthly payment the Lander has to be given. This will include the borrower's monthly payment of interest as well as the initial amount.
Therefore, option C is the correct option.
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Renata and Danuta would like to form a business providing take-out meals to homebound destitute residents of Las Vegas. The meals would be ordered from a menu provided by their company and prepared and delivered by Renata and Danuta. They hope to eventually have their business become international in scope. They will need to raise $100,000 to get their business running and will eventually have much greater capital needs. From the following choices, select the best form of business Renata and Danuta could adopt?
A. Nonprofit corporation
B. Limited-liability company
C. Syndicate
D. Joint venture
Answers
Answer:
A
Explanation:
Nonprofit corporation are corporations that do not earn profits. Revenue earned are usually used in the running of the business or for they are donated.
These type of corporations are usually tax exempt. Their activities usually range from religious, charitable or scientific activities
Renata and Danuta are running a charitable organisation that would be catering for homebound destitute
Which of the following statements is CORRECT? a. As a rule, the optimal capital structure is found by determining the debt-equity mix that maximizes expected EPS. b. The optimal capital structure minimizes the cost of equity, which is a necessary condition for maximizing the stock price. c. The optimal capital structure simultaneously maximizes EPS and minimizes the WACC. d. The optimal capital structure simultaneously minimizes the cost of debt, the cost of equity, and the WACC. e. The optimal capital structure simultaneously maximizes stock price and minimizes the WACC.
Answers
Answer:
e. The optimal capital structure simultaneously maximizes stock price and minimizes the WACC.
Explanation:
The optimal capital structure involves the combination of both debt and equity where debt is a type of loan which is needed to pay back in some years while the equity represents the ownership of the shareholder in the organization
So here the optimal capital structure represents the maximum stock price that minimizes the weighted average cost of capital
hence, the correct option is d.
Norton Corporation reports the following information: Net income $800,000 Dividends on common stock $200,000 Dividends on preferred stock $100,000 Weighted average common shares outstanding 200,000 Norton should report earnings per share of
Answers
Answer:
$3.5
Explanation:
As per the situation the computation of earnings per share is shown below:-
Earnings per share = (Net income - Preferred dividends) ÷ Weighted average common shares outstanding
= ($800,000 - $100,000) ÷ 200,000
= $700,000 ÷ 200,000
= $3.5
Therefore for determining the earnings per shares we simply applied the above formula.
Consider the following scenario: Suppose that a cafe enjoys a large increase in customers whenever the jazz club next door features a band playing appealing music, because it can be easily heard from the cafe. The jazz club owner decides to purchase the cafe so that he can internalize this positive externality. Which of the following types of private solutions to the externality of appealing music has occurred in this case? Integration of different types of businesses through merger or acquisition Charities Contracts Moral codes and social sanctions It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes .
Answers
Answer:
Integration of different types of businesses through merger or acquisition
negotiations among all of the parties too costly
Explanation:
Here is the complete second question : It's important to note that sometimes private solutions to externalities do not work. For example, this occurs when the number of parties involved is so large that it makes (the market failure from the externality unimportant, coordinating negotiations among all of the parties too costly, government action the only viable solution).
Positive externality occurs when the benefits of economic activities to third parties exceeds the costs.
Government encourages activities that generates positive externalities by granting subsidies
The activities of the jazz club generates positive externality to the cafe.
How to internalise positive externality includes :
Integration of different types of businesses through merger acquisition : this is the step taken by the cafe by purchasing the jazz clubCharities ContractsMatch the given descriptions to the accurate accounting term.
1.prepayment
2.payable
3.contra-revenue
4.receivable
5.dividend
sales return
expenses paid in advance
company needs to pay to a vendor for purchase made
a customer who needs to pay to the company for buying goods from it
part of the profit paid to shareholders of the company
Answers
1. Prepayment - expenses paid in advance
2. Payable - company needs to pay to a vendor for purchase made
3. Contra-revenue - sales returns
4. Receivable - a customer who needs to pay to the company for buying goods from it
5. Dividend - part of the profit paid to shareholders of the company
p Marine International manufactures an aquarium pump and is trying to decide whether to produce the filter system in-house or sign an outsourcing contract with Bayfront Manufacturing to make the filter system. Marine’s expertise is producing the pumps themselves but they are considering producing the filter systems also. To establish a filter system production area at Marine International, the fixed cost is $300,000 per year and the company estimates their variable cost of production in-house at $12.25 per filter system. If Marine outsources the production of the filter system to Bayfront, Bayfront will charge Marine $30 per filter system. Should Marine International outsource the production of the filter system to Bayfront if Marine sells 25,000 pumps a year?
Answers
Answer:
Cost of in house production at 25000 units= $606250
Cost of outsourcing option at 25000 units= $750000
Thus, Marine international should produce the filter in house at a demand level of 25000 filters as the cost of in house production ($606250) is less than that of the outsourcing option ($750000).
Explanation:
To decide whether to outsource or not will depend on the total cost of each option incurred under certain production or demand level. The option providing the lowest total cost at that level will be chosen.
We first need to determine the cost of each option and see where the total cost for each item equates.
Cost of in house production = 300000 + 12.25x
Where, x is the number of units.
Cost of in house production = 300000 + 12.25 (25000)
Cost of in house production = $606250
Cost of outsourcing option = 30x
Cost of outsourcing option = 30 (25000)
Cost of outsourcing option = $750000
Thus, Marine international should produce the filter in house at a demand level of 25000 filters as the cost of in house production ($606250) is less than that of the outsourcing option ($750000).
The CEO of Harding Media Inc. as asked you to help estimate its cost of common equity. You have obtained the following data: D 0 = $0.85; P0 = $22.00; and dividend growth rate = 6.00% (constant). The CEO thinks, however, that the stock price is temporarily depressed, and that it will soon rise to $40.00. Based on the dividend growth model, by how much would the cost of common from reinvested earnings change if the stock price changes as the CEO expects? a. −1.49% b. −2.03% c. −1.84% d. −2.23% e. −1.66%
Answers
Answer:
c. −1.84%
Explanation:
the dividend growth model:
P₀ = Div₁ / (Re - g)
currently
P₀ = 22Div₁ = 0.85 x 1.06 = 0.901g = 0.0622 = 0.901 / (Re - 0.06)
Re - 0.06 = 0.901 / 22 = 0.041
Re = 0.041 + 0.06 = 0.1009 = 10.09%
if stock price increases to $40, then
40 = 0.901 / (Re - 0.06)
Re - 0.06 = 0.901 / 40 = 0.0225
Re = 0.0225 + 0.06 = 0.0825 = 8.25%
decrease in Re = 8.25% - 10.09% = -1.84%
A new home sold for $350,000. The tax rate is $.825 per hundred or fraction thereof. How much will the annual taxes be on this property?
Answers
Answer:
$2,887.50
Explanation:
$350,000 ÷ 100 = $3,500
$3,500 x 0.825 = $2,887.50
hope this helps :)
The annual taxes on this property would amount to approximately $2,887.50.
To calculate the annual taxes on the property, we need to determine the taxable value of the property and then apply the tax rate.
Given:
Selling price of the home: $350,000
Tax rate: $0.825 per hundred or fraction thereof
To calculate the taxable value, we divide the selling price by 100 and round up to the nearest whole number:
Taxable value = Selling price / 100
Taxable value = $350,000 / 100
Taxable value = $3,500
Next, we multiply the taxable value by the tax rate:
Annual taxes = Taxable value × Tax rate
Annual taxes = $3,500 × $0.825
Annual taxes = $2,887.50
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Panamint Systems Corporation is estimating activity costs associated with producing disk drives, tapes drives, and wire drives. The indirect labor can be traced to four separate activity pools. The budgeted activity cost and activity base data by product are provided below. Activity Cost Activity Base Procurement $363,300 Number of purchase orders Scheduling 231,800 Number of production orders Materials handling 407,300 Number of moves Product development 774,600 Number of engineering changes Production 1,427,500 Machine hours Number of Number of Number of Number of Machine Number Purchase Production Moves Engineering Hours of Orders Orders Changes Units Disk drives 4200 380 1450 13 2400 2200Tape drives 1700 125 610 4 9900 3700Wire drives 12800 720 3800 21 12000 2600 The activity rate for the procurement activity cost pool is:___________. a. $20.42
b. $73.48
c. $60.98
d. $183.67
Answers
Answer:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Explanation:
Giving the following information:
Activity Cost Activity Base
Procurement $363,300 Number of purchase orders
It is not clear the number of purchase orders, but, I will assume the following:
Number of Purchase orders:
Disk drives 4200
Tape drives 1700
Wire drives 12800
Total= 18,700
To calculate the predetermined overhead rate, we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Procurement:
Predetermined manufacturing overhead rate= 363,300/18,700
Predetermined manufacturing overhead rate= $19.43
Terrence smiles at his customers, helps his coworkers, and stays late when needed. What personal skill does Terrence demonstrate?
A. Attire
B. Collaboration
C. Human resources
D. Positive attitude
Answers
Answer:The answer is D. Positive Attitude
Explanation:
I just took the test :)
Terence demonstrates the skill of a positive attitude. So the correct option is D.
What is a positive attitude?When you are optimistic, you look on the bright side of things, you gain confidence, and you anticipate growth and success. A positive outlook is necessary for pleasure, joy, and life advancement.
It denotes having a happy attitude in life. The person who is in this frame of mind experiences brightness, hope, and excitement in their life. Adopting this mentality does not guarantee that things will always go according to plan or that there won't be any obstacles.
However, this perspective guarantees that any obstacle you may have won't stop you or alter your frame of mind. This way of thinking about life would also give you the perseverance to keep trying, failing, and doing your best.
It is quite simple to develop negative thought patterns, doubts, anxieties, and fears, as well as to develop a pessimistic attitude toward life.
Therefore the correct option is D.
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The cost of external equity capital raised by issuing new common stock (re) is defined as follows, in words: "The cost of
external equity equals the cost of equity capital from retaining earnings (rs), divided by one minus the percentage flotation
cost required to sell the new stock, (1 - F)."
Answers
A news clipping service is considering modernization. The company is currently using a manual process that has fixed costs of $400,000 per year and variable costs of $6.20 per item. The company is considering converting to a computerized process that has fixed costs of $1,300,000 per year and variable costs of $2.25 per item. a) If the same price is charged for either process, what is the annual volume beyond which the computerized process is more attractive
Answers
Answer:
From 225,001 items, the computerized process is better.
Explanation:
Giving the following information:
Manual process:
Fixed costs= $400,000
Unitary variable cost= $6.20
Computerized process:
Fixed costs= $1,300,000
Unitary variable cost= $2.25
First, we need to structure the total cost formulas:
Manual process:
Total cost= 400,000 + 6.25x
x= number of items
Computerized process:
Total cost= 1,300,000 + 2.25x
x= number of items
Now, we equal both formulas and isolate x:
400,000 + 6.25x = 1,300,000 + 2.25x
4x = 900,000
x= 225,000 items
The indifference point is 225,000 items.
Prove:
Total cost= 400,000 + 6.25*225,000= $1,806,250
Total cost= 1,300,000 + 2.25*225,000= $1,806,250
From 225,001 items, the computerized process is better.
Seven years ago, Lance Measy purchased a wooden statue of a Spanish Conquistador for $8,200 to put in his home office. Lance recently married a woman who he thinks has better taste then he does and she insists it has to go. He loves his new wife and agrees to sell the Conquistador statue on ebay and receives less than he paid for it, $7,000. What is his rate of return on the purchase of the statue? Hint, I/Y compounded annually
Answers
Answer:
-2.28%
Explanation:
we can use the future value formula:
FV = PV x (1 + r)ⁿ
$7,200 = $8,200 x (1 + r)⁷
(1 + r)⁷ = $7,000 / $8,200 = 0.853658536
⁷√(1 + r)⁷ = ⁷√0.853658536
1 + r = 0.9772
r = -0.0228 = -2.28%
You are the new VP for HR of a company that has not been performing well, and everyone including youself, has a mandate to deliver results. The pressure has never been greater. Shareholders are angry after three years of a tough market that has left their company stock losing value every day. Many shareholders disparately need stock performance to pay for their retirement. Working for you is a 52-year-old manager with two kids in college. In previous evaluations, executives told him he was doing fine, when he clearly was not, and his performance is still far below par. At the same time, the executives awarded him impressive annual pay raises. If you are to show others in the company that you are willing to make tough decisions, you feel you must fire this individual. The question is, who is going to suffer --the firm and ultimately, the shareholders, who retirements are in jeopardy --or a nice guy who's been lied to for 20 years? 1. What would you do and why. 2. What factor(s) in this ethical dilemma might influence a person to make a less-than-ethical decision?
Answers
Many individual factors affect a person's ethical behavior at work, such as knowledge, values, personal goals, morals and personality. The more information that you have about a subject, the better chance you will make an informed, ethical decision.
For example, what if you had to decide whether to approve building a new company store? What if you did not have the knowledge that the store would disturb an endangered species nest? Without the appropriate knowledge, you could be choosing an unethical path.
Values are an individual's judgment or standard of behavior. They are another individual factor that affects ethical behavior. To some people, acting in an improper way is just a part of doing business. Would you feel that it is ethical to make up lies about your competitor just to win a contract? Some people's standard of behavior will feel that lying for a business financial win is not unethical.
Morals are another individual characteristic that can affect an individual's ethics. Morals are the rules people develop as a result of cultural norms and values and are, traditionally, what employees learn from their childhood, culture, education, religion, etc. They are usually described as good or bad behavior. Would you have good morals if you pushed a product on a customer that you knew was not going to help solve a problem?
Many ethical work situations will also be affected by a person's goals. Which characteristics do you feel are worthy to aspire to? Is financial gain ranked ahead of good character or integrity? If your personal goals are about acquiring wealth no matter what the consequence, then you might act unethical in the future.
Lastly, an employee's personality plays an important factor in determining ethical behavior. Do you enjoy risk or do you prefer the safe route? Individuals who prefer to take risks tend to have a higher chance of unethical conduct at work
Whispering Winds Company has the following balances in selected accounts on December 31, 2022. Accounts Receivable $ 0 Accumulated DepreciationâEquipment 0 Equipment 8,120 Interest Payable 0 Notes Payable 11,600 Prepaid Insurance 2,436 Salaries and Wages Payable 0 Supplies 2,842 Unearned Service Revenue 34,800 All the accounts have normal balances. The following information has been gathered at December 31, 2022. 1. Whispering Winds Company borrowed $11,600 by signing a 12%, one-year note on September 1, 2022. Interest will be paid when the note is repaid. 2. A count of supplies on December 31, 2022, indicates that supplies of $1,044 are on hand. 3. Depreciation on the equipment for 2022 is $1,160. 4. Whispering Winds paid $2,436 for 12 months of insurance coverage on June 1, 2022. 5. On December 1, 2022, Whispering Winds collected $34,800 for consulting services to be performed evenly from December 1, 2022, through March 31, 2023. 6. Whispering Winds performed consulting services for a client in December 2022. The client will be billed $4,872. 7. Whispering Winds pays its employees total salaries of $10,440 every Monday for the preceding 5-day week (Monday through Friday). On Monday, December 29, employees were paid for the week ending December 26. All employees worked the last 3 days of 2022."
Answers
Question Completion:
Record the adjustments.
Answer:
Whispering Winds Company
1. Debit Interest Expense $464
Credit Interest Payable $464
To record the interest expense for 4 months.
2. Debit Supplies Expense $1,798
Credit Supplies $1,798
To record supplies expense for the year.
3. Debit Depreciation Expense - Equipment $1,160
Credit Accumulated Depreciation - Equipment $1,160
To record the depreciation expense for the year.
4. Debit Insurance Expense $1,421
Credit Prepaid Insurance $1,421
To record insurance expense for 7 months.
5. Debit Unearned Revenue $8,700
Credit Service Revenue $8,700
To record service revenue earned for December.
6. Debit Accounts Receivable $4,872
Credit Service Revenue $4,872
To record service revenue earned for December.
7. Debit Salaries Expense $6,264
Credit Salaries Payable $6,264
To accrue unpaid salaries for 3 days.
Explanation:
a) Data and Calculations:
Account balances on December 31, 2022:
Accounts Receivable $ 0
Accumulated Depreciation-Equipment 0
Equipment 8,120
Interest Payable 0
Notes Payable 11,600
Prepaid Insurance 2,436
Salaries and Wages Payable 0
Supplies 2,842
Unearned Service Revenue 34,800
b) Interest expense = $11,600 * 12% * 4/12
c) Supplies expense = $2,842 - 1,044 = $1,798
d) Insurance expense = $2,436 * 7/12 = $1,421
e) Service Revenue = $34,800 * 1/4 = $8,700 with the balance as Deferred Revenue.
f) Salaries expense for 3 days = $10,440 * 3/5 = $6,264
A discrete uniform probability distribution is one where _______.
a- the shape of the distribution is always skewed to the right
b- the probabilities do not add up to one
c- each possible value of the random variable is the same
d- each possible value of the random variable is different
Answers
A discrete uniform probability distribution is one where each possible value of the random variable is the same. Therefore, the option C holds true.
What is the significance of uniform probability distribution?A uniform probability distribution can be referred to or considered as a distribution wherein the possible outcomes in any form of a given observation are most likely to be equal to each other. Such a distribution can also be expressed with the help of graphical representation.
In a uniform probability distribution, there are chances that each possible value derived out of random variables in an observation turn out to be similar to each other. This is simply because the variables are 'uniform'.
Therefore, the option C holds true and states regarding the significance of uniform probability distribution.
Learn more about uniform probability distribution here:
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