Answer:
cost of goods manufactured= $890,000
Explanation:
Giving the following information:
Applied Overhead= $485,000
Other costs incurred:
Purchases of raw materials (both direct and indirect) - $400,000
Direct labor costs - $60,000
Inventories:
Raw materials, beginning - $20,000
Raw materials, ending - $30,000
Work in process, beginning - $40,000
Work in process, ending - $70,000
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials used + direct labor + allocated manufacturing overhead - Ending WIP
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 20,000 + (400,000 - 15,000) - 30,000
Direct material used= 375,000
I deduct the indirect material included in manufacturing overhead.
cost of goods manufactured= 40,000 + 375,000 + 60,000 + 485,000 - 70,000
cost of goods manufactured= $890,000
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)."
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?
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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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
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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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
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%
Economies of scope A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation. B. arise only from strategic fit relationships in the production portions of the value chains of sister businesses. C. are more associated with unrelated diversification than related diversification. D. are present whenever diversification satisfies the attractiveness test and the cost-of-entry test. E. arise mainly from strategic fit relationships in the distribution portions of the value chains of unrelated businesses.
Answer:
A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Explanation:
Economies of scope occur when a good is manufactured, the cost of manufacturing a related goods is reduced. It means that there would be reduction in the cost of production of a goods as a result of increase in variety of goods. It is a situation whereby the cost of producing two products is less compare to when that product is produce separately.
It should be noted that economy of scope are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Urban Drapers Inc., a drapery company, has been successfully doing business for the past 15 years. It went public eight years ago and has been paying out a constant dividend of $3.52 per share every year to its shareholders. In its most recent annual report, the company informed investors that it expects to maintain its constant dividend in the foreseeable future and that dividends are not expected to increase. If you are an investor who requires a 25.50% rate of return and you expect dividends to remain constant forever, then your expected valuation for Urban Drapers stock today is ________ per share.Urban Drapers has a sister company named Super Carpeting Inc. (SCI). SCI just paid a dividend (D_0) of $2.64 per share, and its annual dividend is expected to grow at a constant rate (g) of 5.50% per year. If the required return (r_s) on SCI's stock is 13.75%, then the intrinsic value of SCI's shares is _______ per share. Which of the following statements is true about the constant growth model? When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to an increased value of the stock. When using a constant growth model to analyze a stock, if an increase in the required rate of return occurs while the growth rate remains the same, this will lead to a decreased value of the stock.
Answer:
The answer is "$0.138 and $33.76".
Explanation:
[tex]\text{Value of urban drapers stock} = \frac{\text{Annual dividend}}{\text{Required rate of return}}[/tex]
[tex]= \frac{3.52}{25.50} \\\\= \$ 0.138[/tex]
[tex]\text{Intrinsic value of SCI share} = \frac{D_1}{ \text{Required rate - growth rate}}[/tex]
[tex]= \frac{( 2.64 \times 1.055)}{0.1375 - 0.055} \\\\= \frac{2.7852}{0.0825}\\\\ = \$ 33.76[/tex]
The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $880,000, and it would cost another $19,500 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $463,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $14,500. The sprayer would not change revenues, but it is expected to save the firm $330,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 25%. A. What is the Year 0 net cash flow?
B. What are the net operating cash flows in Years 1, 2, and 3?
C. What is the additional Year-3 cash flow (i.e., the after-tax salvage and the return of working capital)?
D. Based on your IRR analysis, if the projectâs cost of capital is 12%, should the machine be purchased?.
Answer:
A. -1118000 B. Y1=375612Y2=418521Y3= 304148 C. 803657 D. 26%
Explanation:
Managerial Finance.
A.) 0 Year Net Cash Flow = -1080000-22500-15500= -1118000
B.) Y1=375612
Y2=418521
Y3= 304148
C.) 60500 + (605000-81695) * (.35) + 15500 = 803657
D.) IRR put the value of Net Present Value (NPV) as 0
NPV= -1118000 +375612/(1+r)^1 + 418521/ (1+r)^2 + (304148) + 803657) / (1+r) ^ 3
we get 25.87 or 26%
Yes.
There are Federal Reserve regional banks. Which of the following contributes to making the Federal Reserve an independent policymaking body? Members of the Board of Governors are appointed for 14-year terms. Its role is written into the U.S. Constitution. There are 12 Federal Reserve banks. The Federal Reserve's primary tool for changing the money supply is . In order to increase the number of dollars in the U.S. economy (the money supply), the Federal Reserve will government bonds.
Answer:
There are 12 Federal Reserve regional banks. A further explanation is given below.
Explanation:
The central U.S is the treasury department System. This isn't about a foreign company. Alternatively, the complete United States is broken across 12 treasury department regions, along with a federal reserve bank throughout the jurisdiction. The treasury department system is established by these 12 area federal reserve banks.So, there are many 12 area Federal Reserve banks.
Despite the latter's independence towards political interference, the federal reserve system is perceived to be autonomous. This is because a director of the Federal Reserve executive committee is named for a maximum term duration of 14 years. This starts and ends the duration of three or four U.S president and thereby actually protects the board against political control.
Representatives are named to the board of directors for a period of 14 years.
Open market activities are the main weapon of the Federal Reserve for adjusting the amount of money in circulation. The Federal Reserve would issue government securities to decrease the consumption of dollars from the U.S.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
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.Use the Keynesian cross to predict the impact on equilibrium GDP of a. An increase in government purchases. b. An increase in taxes. c. Equal-sized increases in both government purchases and taxes.
Answer:
An increase in government purchases
Explanation:
The Keynesian cross explains to us that fiscal policy has multiple impacts on income. The reason for this has been explained by many, according to consumption, that higher income is seen to lead to higher consumptions. Keynesian economics (KE) as an idea was developed before the aggregate demand/aggregate supply model was made popular.
The KE was explained using the expenditure-output approach which lays emphases on the total amount of spending in the economy
Accounting for Operating Activities in a New Business (the Accounting Cycle)
Penny’s Pool Service & Supply, Inc. (PPSS) had the following transactions related to operating the business in its first year’s busiest quarter ended September 30, 2013:
a. Placed and paid for $2,600 in advertisements with several area newspapers (including the online versions), all of which ran in the newspapers during the quarter.
b. Cleaned pools for customers for $19,200, receiving $16,000 in cash with the rest owed by customers who will pay when billed in October.
c. Paid Pool Corporation, Inc., a pool supply wholesaler, $10,600 for inventory received by PPSS in May.
d. As an incentive to maintain customer loyalty, PPSS offered customers a discount for prepaying next year’s pool cleaning service. PPSS received $10,000 from customers who took advantage of the discount.
e. Paid the office receptionist $4,500, with $1,500 owed from work in the prior quarter and the rest from work in the current quarter. Last quarter’s amount was recorded as an expense and a liability Wages Payable.
f. Had the company van repaired, paying $310 to the mechanic.
g. Paid $220 for phone, water, and electric utilities used during the quarter.
h. Received $75 cash in interest earned during the current quarter on short-term investments.
i. Received a property tax bill for $600 for use of the land and building in the quarter; the bill will be paid next quarter.
j. Paid $2,400 for the next quarter’s insurance coverage.
Required:
1. For each of the events, prepare journal entries, checking that debits equal credits.
2. Based only on these quarterly transactions, prepare a classified income statement (with income from operations determined separately from other items) for the quarter ended September 30, 2013.
3. Calculate the net profit margin ratio at September 30, 2013 (using income before taxes in place of net income). What does this ratio indicate about the ability of PPSS to control operations?
1. Journal Entries for the events in Quarter ending September 30, 2013:
a. Debit Advertising Expense $2,600
Credit Cash $2,600
b. Debit Cash $16,000
Debit Accounts Receivable $3,200
Credit Service Revenue $19,200
c. Debit Accounts Payable (Pool Corporation) $10,600
Credit Cash $10,600
d. Debit Cash $10,000
Credit Unearned Service Revenue $10,000
e. Debit Wages Expense $3,000
Debit Wages Payable $1,500
Credit Cash $4,500
f. Debit Vehicle Repairs Expense $310
Credit Cash $310
g. Debit Utilities Expense $220
Credit Cash $220
h. Debit Cash $75
Credit Interest Revenue $75
i. Debit Property tax expense $600
Credit Property tax Payable $600
j. Debit Prepaid Insurance $2,400
Credit Cash $2,400
2. Classified Income Statement for the Quarter ended September 30, 2013:
Service Revenue $19,200
Advertising Expense $2,600
Wages Expense 3,000
Vehicle Repairs Expense 310
Utilities Expense 220
Property tax Expense 600 $6,730
Income from operations $12,470
Interest Revenue $75
Income before taxes $12,545
3. The net profit margin ratio = 64.95% ($12,470/$19,200 x 100)
3b. This ratio shows that PPSS is able to control the costs of its operations in such a way that it could convert as much as 65% income from its service revenue.
Data Analysis:
a. Advertising Expense $2,600 Cash $2,600
b. Cash $16,000 Accounts Receivable $3,200 Service Revenue $19,200
c. Accounts Payable (Pool Corporation) $10,600 Cash $10,600
d. Cash $10,000 Unearned Service Revenue $10,000
e. Wages Expense $3,000 Wages Payable $1,500 Cash $4,500
f. Vehicle Repairs Expense $310 Cash $310
g. Utilities Expense $220 Cash $220
h. Cash $75 Interest Revenue $75
i. Property tax expense $600 Property tax Payable $600
j. Prepaid Insurance $2,400 Cash $2,400
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The manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,900 direct labor-hours will be required in January. The variable overhead rate is $7 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,230 per month, which includes depreciation of $3,530. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Answer:
$67,000
Explanation:
Calculation for the cash disbursements for manufacturing overhead
Using this formula
Cash disbursements = Variable + Fixed
Let plug in the formula
Cash disbursements= (3,900*$7) + (43,230 - 3,530)
Cash disbursements= 27,300+ 39,700
Cash disbursements=$67,000
Therefore the cash disbursements for manufacturing overhead will be $67,000
PLEASE 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.
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,100 February 375 5,300 March 625 6,350 April 400 5,200 May 650 6,300 June 600 6,300 July 350 5,000 August 675 6,300 September 550 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 700 cavitie
Answer:
Results are below.
Explanation:
Giving the following information:
Month Number of Cavities Filled Total Cost
January 300 $5,100
February 375 5,300
March 625 6,350
April 400 5,200
May 650 6,300
June 600 6,300
July 350 5,000
August 675 6,300
September 550 6,000
To calculate the fixed and variable cost under the high-low method, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (6,350 - 5,000) / (675 - 300)
Variable cost per unit= $3.6
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 6,350 - (3.6*675)
Fixed costs= $3,920
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 5,000 - (3.6*300)
Fixed costs= $3,920
Now, for 700 units:
Total cost= 3,920 + 3.6*700
Total cost= $6,440
Consider an espresso stand with a single barista. Customers arrive to the stand at the rate of 28 per hour. Service rate is 35 customers per hour. On average, each customer purchase $4.25. On average, how many minutes will a customer spend waiting in line
Answer:
6.86 minute
Explanation:
The arrival rate λ= 28
The service rate μ = 35
Average time a customer spends in the line for service is:
Wq = ( λ / μ(μ-λ)
Wq = ( 28 / 35 (35 - 28))
Wq = ( 28 / 35 (7))
Wq = ( 28 / 245)
Wq = 0.11429 hours
Wq = 0.11429 hours * 60
Wq = 6.8574 minute
Wq = 6.86 minute
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.
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)
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?
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
5. Hazelwood School District is located in Sleepy Hollow Township. It is being sued by several teachers who applied for teaching positions with the school but were rejected. The plaintiffs, who are all African-Americans, produce the following evidence: a) 1.8 percent of the Hazelwood School District's certified teachers are African-American, whereas 15.4 percent of the certified teachers in Sleepy Hollow Township are African-American; and b) The hiring decisions by Hazelwood School District are based solely on subjective criteria. Will the plaintiffs prevail
Answer:
The plaintiffs will probably win because the school district is clearly discriminating against African American teachers.
Title VII of the Civil Rights Act establishes that it is illegal to discriminate against job applicants based on race, ethnic background, gender, sexual preferences, religion, etc.
Since 15.4% of all certified teachers in the district are African Americans, you would expect that the number of teachers employed by the school district would be similar. It doesn't have to be exact, but it should be a closer number, not 1.8%.
Social Media, Inc. (SMI) has two services for users. Toot!, which connects tutors with students who are looking for tutoring services, and TiX, which can be used to buy, sell, or exchange event tickets. For the following year, SMI expects the following results. Toot! TiX Total Users 8,900 16,600 25,500 Revenues $ 1,450,000 $ 1,200,000 $ 2,650,000 Engineering hours 7,375 5,375 12,750 Engineering cost $ 402,500 $ 521,875 $ 924,375 Administrative costs $ 739,500 Required: a. Compute the predetermined overhead rate used to apply administrative costs to the two services assuming SMI uses the number of users to allocate administrative costs. b. Based on the rates computed in requirement (a), what is the profit for each service?
Answer: See explanation
Explanation:
a. Predetermined overhead rate will be:
= Administrative costs/Number of users
= 739,500/25,500
= $29 per user
Administrative costs applied to Toot will be:
= Number of users x Predetermined overhead rate
= 8900 x 29
= $258100
Administrative costs applied to Tix will be:
= Number of users x Predetermined overhead rate
= 16600 x 29
= $481400
b. For Toot
Revenue: $1,450,000
Less: Engineering cost: $402,500
Less: Administrative cost: $258,100
Profit = $789400
For Tix:
Revenue: $1,200,000
Less: Engineering cost: $521,875
Less: Administrative cost: $481,400
Profit = $196725
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.
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
The following information applies to the questions displayed below.]Performance Products Corporation makes two products, titanium Rims and Posts. Data regarding the two products follow:DirectLabor-Hoursper unit AnnualProductionRims 0.30 26,000 unitsPosts 0.50 70,000 unitsAdditional information about the company follows:Rims require $15 in direct materials per unit, and Posts require $11.The direct labor wage rate is $15 per hour.Rims are more complex to manufacture than Posts and they require special equipment.The ABC system has the following activity cost pools:Estimated ActivityActivity Cost Pool Activity Measure EstimatedOverheadCost Rims Posts TotalMachine setups Number of setups $ 32,900 60 140 200Special processing Machine-hours $114,800 4,000 0 4,000General factory Direct labor-hours $1,404,000 6,000 72,000 78,000c.A security guard patrols the company grounds after normal working hours.d.Purchase orders are issued for materials to be used in production.e.Modifications are made to product designs.f.New employees are hired by the personnel office.g.Machine settings are changed between batches of different products.h.Parts inventories are maintained in the storeroom. (Each product requires its own unique parts.)i. Insurance costs are incurred on theRequired:1. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)Activity Cost Pool Activity RateMachine setups per setupSpecial processing per MHGeneral factory per DLHcompanyâs2. Determine the unit product cost of each product according to the ABC system. (Do not round intermediate calculations. Round your final answers to 2 decimal places.)Unit product cost of Rims Unit product cost of Posts
Answer:
Please sew below and attached.
Explanation:
1. Compute the activity rate for each activity cost pool.
2. Determine the unit product cost of each product according to the ABC system.
•The unit product cost for RIMS = $28.45 , while the unit product cost for POSTS = $37.34
Please find attached detailed solution to the above .
On the last day of December 2016, Camreyâs Trucks entered into a transaction that resulted in a receipt of $216,000 cash in advance related to services that will be provided during January 2017. During December of 2016, the company also performed $128,000 of services which were neither billed nor paid. Prior to December adjustments and before these two transactions were recorded, the companyâs trial balance showed service revenue of $1,165,470 at December 31, 2016. There are no other prepaid services yet to be delivered, and during the month all outstanding accounts receivable from prior months were collected.If Camrey's trucks makes the appropirate adjusting entry, how much will service revenue will be reflected on the december 31, 2016 income statement?If Camrey's Trucks makes the appropriate adjusting entry, how much will be reported on the December 31, 2016 Balance sheet as unearned revenue?If Camrey's turcks make the appropriate adjusting entry, how much will be reported on the December 31, 2017 Balance sheet as accounts receivable?
Answer:
A. $ 1,293,470
B. $216,000
C. $128,000
Explanation:
A. Calculation for how much service revenue will be reflected on the december 31, 2016 income statement
Service Revenue show on the Trial Blance = $1,165,470
Add: Services which were neither billed nor paid = $ 128,000
Service Revenue reflected in the Dec.,31 2016 income statement =$ 1,293,470
Therefore how much service revenue will be reflected on the december 31, 2016 income statement will be $ 1,293,470
B. Calculation for how much will be reported on the December 31, 2016 Balance sheet as unearned revenue
Based on the information given we were told
that the company entered into a transaction which had resulted in the company receiving the amount of $216,000 as a cash in advance On the last day of the month of December 2016 which is related to services that will be provided during the month of January 2017 which means that the amount of $216,000 will be the amount of cash to be reported on December 31, 2016 Balance sheet as unearned revenue.
C. Calculation for how much that will be reported on the December 31, 2017 Balance sheet as accounts receivable
Based on the information given we were told that the During the month of December of 2016, the company as well rendered a service of the amount of $128,000 in which the service rendered were neither billed nor paid which means that the amount of cash the company will report on December 31, 2017 Balance sheet as accounts receivable will be $128,000.
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
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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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 .
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 ContractsGould 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.)
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 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
which of the following is the most common form of the research title
A city keeps track of the number of new small businesses which open in any given year, as well as how many of those
new businesses report profit in excess of their initial investment after one year's time. An example of the data collected
can be viewed in the table below.
2000
Year
New
1998
781
1999
699
626
217
2001
730
264
2002
762
244
Profitable
311
205
If 684 new small businesses opened in 2003, approximately how many of them could be expected to turn a profit in
excess of their initial investment by 2004?
a 200
b. 236
c. 247
d. 272
Answer:
It's 236
Explanation:
Edge2020 ignore the other guy
Metlock Inc. wishes to accumulate $1,380,000 by December 31, 2027, to retire bonds outstanding. The company deposits $200,000 on December 31, 2017, which will earn interest at 6% compounded quarterly, to help in the retirement of this debt. In addition, the company wants to know how much should be deposited at the end of each quarter for 10 years to ensure that $1,380,000 is available at the end of 2027. (The quarterly deposits will also earn at a rate of 6%, compounded quarterly.)
Answer:
Quarterly deposit= $18,743.98
Explanation:
i= 0.06/4= 0.015
n= 10*4= 40
First, we need to determine the future value of the $200,000 using the following formula:
FV= PV*(1+i)^n
FV= 200,000*1.015^40
FV= $362,803.68
Now, we calculate the quarterly deposit to cover for the difference:
Difference= 1,380,000 - 362,803.68= $1,017,196.32
FV= {A*[(1+i)^n-1]}/i
A= quarterly deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,017,196.32*0.015) / [(1.015^40) - 1]
A= $18,743.98
Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 190 units $ 410 June 10 200 units 580 June 15 200 units 650 June 28 200 units 510 $2150 A physical count of merchandise inventory on June 30 reveals that there are 270 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
Answer:
Ending inventory cost= $642.4
Explanation:
Giving the following information:
Date Number of units purchased Total cost
June 1 190 units $ 410 ($2.16)
June 10 200 units 580 ($2.9)
June 15 200 units 650
June 28 200 units 510
Ending inventory in units= 270
To calculate the value of ending inventory under the LIFO (last-in, first-out), we need to use the cost of the firsts units incorporated into inventory.
Ending inventory cost= 190*2.16 + 80*2.9
Ending inventory cost= $642.4
