Allen Air Conditioning manufactures room air conditioners at plants in Houston, Phoenix, and Memphis. These are sent to regional distributors in Dallas, Atlanta, and Denver. The shipping costs vary, and the company would like to find the least-cost way to meet the demands at each of the distribution centers. Dallas needs to receive 800 air conditioners per month, Atlanta needs 600, and Denver needs 200. Houston has 850 air conditioners available each month, Phoenix has 650, and Memphis has 300. The shipping cost per unit from Houston to Dallas is $8, to Atlanta $12, and to Denver $10. The cost per unit from Phoenix to Dallas is $10, to Atlanta $14, and to Denver $9. The cost per unit from Memphis to Dallas is $11, to Atlanta $8, and to Denver $12.

Required:
a. How many units should owner Stephen Allen ship from each plant to each regional distribution center?
b. What is the total transportation cost?

Answers

Answer 1

Answer:

$14700

Explanation:

Given that:

i. Dallas needs 800 per month

ii. Atlanta needs 600 per month

iii. Denver needs 200 per month

iv. Houston has 850 available per month

v. Phoenix has 650 available per month

vi. Memphis has 300 available per month

Assuming that a plant can deliver air conditioners to more than one regional distributor in a month. Then;

a. For least-cost way to meet the demand, Stephen Allen could ship the air conditioners to each regional distributors as follows:

From Houston to Dallas = 800 units

From Houston to Atlanta = 50 units

From Phoenix to Atlanta = 250 units

From Memphis to Atlanta = 300 units

From Phoenix to Denver = 200 units

Total units transported = 1600 units

b. Cost per transportation:

Houston to Dallas = $8 x 800  = $6400

Houston to Atlanta = $12 x 50 = $600

Phoenix to Atlanta = $14 x 250 = $3500

Memphis to Atlanta = $8 x 300 = $2400

Phoenix to Denver = $9 x 200 = $1800

Total transportation cost = $6400 +$600 + $3500 + $2400 + $1800

                                         = $14700

The total transportation cost would be $14700.


Related Questions

A firm that has extra cash Multiple Choice Should always invest it in U.S. equities. should invest it in the safest projects available. should always reinvest it in new equipment. should pay it out to shareholders unless the firm can earn a higher rate of return on the cash than the shareholders can earn by investing in the capital market.

Answers

Answer:

should pay it out to shareholders unless the firm can earn a higher rate of return on the cash than the shareholders can earn by investing in the capital market.

Explanation:

In 2021, Ryan Management collected rent revenue for 2022 tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in 2021. The deferred portion of the rent collected in 2021 was $194.0 million. No temporary differences existed at the beginning of the year, and the tax rate is 25%. Suppose the deferred portion of the rent collected was $76 million at the end of 2022. Taxable income is $760 million. Prepare the appropriate journal entry to record income taxes Iin 2022.
Transaction General Journal Debit Credit
Income tax expense
Deferred tax asset
Income taxes payable 340.0

Answers

Answer:

                                Ryan Management

                                    Journal Entries

Date            Particulars                  Debit'million   Credit'million  

31-Dec-22   Income tax expense       $219.50

                           To Income tax payable                 $190

                            ($760 * 25%)

                           To Deferred tax asset                   $29.50

                             [($194 - $76)*25%]

                    (To record income tax expense and reversal of Deferred

                      tax asset)

Please discuss the following two scenarios: Both scenarios consist of a loan of $1000 on Jan.1 - to be paid back on Dec. 31. A is the lender and B is the debtor.

Scenario 1: On Nov. 7th, A calls B to see how he is doing. B says he is not doing well. A asks if B will be able to pay the $1000 on Dec. 31. B says probably not. A asks how much B will have and B says about $700. A tells B to pay him $700 on Dec. 31 and that he will not owe him the additional $300. A puts it in writing. On Dec. 31, B pays the agreed upon $700. Then on January 15th, A calls B and tells him that he wants the additional $300.

Scenario 2: Same situation, but on the Nov. 7th phone call, A tells B to pay him the $700 now and then he will not owe him the additional $300. It is put in writing. B pays $700 on Nov. 7th. Then on January 15th, A calls B and tells him that he wants to additional $300. In which scenario can A get the additional $300.

In which scenario can A get the additional $300? It could be in both scenarios, neither or one of them. What do you think?

Answers

Answer:

Neither

Explanation:

When A creates a deal of B paying only $700 now or on 31st December with a written commitment that he will not owe $300, it means A has decided to write off the $300. Had A not created any written document and just asked B to pay $700 now and then later on reminded and demanded $300 it would have been fine. A would still be legally right in maintaining that B still owes the balance $300.  

However, giving a written commitment of waving off the $300 on payment of $700 now or by 31st Dec which B accepts and also adheres to by paying means that B has fulfilled the new agreement. As A has only floated the new agreement, he cannot go back from his own statements.

Discuss the types of financial statements and their purpose.

Answers

Answer:

They are: (1) balance sheets; (2) income statements; (3) cash flow statements; and (4) statements of shareholders' equity. Balance sheets show what a company owns and what it owes at a fixed point in time. Income statements show how much money a company made and spent over a period of time.

Explanation:

Jim wants to start his own business and needs $10,000 for working capital. He applies for a business loan at FirstBank. The banker tells Jim that the Bank will make the loan if Jim's father will personally guarantee repayment of the loan. Jim assures the banker that his father will do this. The banker calls Jim's father to confirm that he will guarantee Jim's $10,000 loan. Jim's father says: "Sure thing, I'd do anything for that boy." The bank makes the loan to Jim. Jim's new business is not successful and Jim is unable to repay the loan. Jim has no money. Jim's father has buckets of money. The bank sues Jim's father to recover the unpaid amount of the loan plus interest plus attorneys' fees and costs of collecting the debt.
Which of the following is true?
A. Jim's father can make a strong argument that he is not liable to pay his son's debt because the Bank did not have him sign a written guaranty agreement.
B.The oral agreement to guaranty the loan is not enforceable because it is contrary to public policy.
C.Jim’s father is liable to pay his son’s debt because the Bank partially performed under the loan agreement.
D.If it can be proven in a court of law that Jim's father orally agreed to guarantee the loan, Jim's father will be held liable for the repayment of the loanbecause 'a deal is a deal'.

Answers

Answer:

A.

Explanation:

From the different options provided, in this scenario the one that is true is that  Jim's father can make a strong argument that he is not liable to pay his son's debt because the Bank did not have him sign a written guaranty agreement. In order for the bank to properly hold Jim and his father to the agreement they needed to create a contract and have Jim's father sign and agree to the contract in person. Since the bank failed to do so, then Jim's father can fight the lawsuit. Agreement over the phone is not proper procedure and would not hold up in court due to the bank not being able to properly verify who the individual on the other side of the phone call truly was or if he was really Jim's Father.

Character is one factor used in determining credit worthiness
-true
-false

Answers

True.

Three Cs: Character, Capital, and Capacity

Assume that your father is now 50 years old, plans to retire in 10 years, and expects to live for 25 years after he retires - that is, until age 85. He wants his first retirement payment to have the same purchasing power at the time he retires as $55,000 has today. He wants all his subsequent retirement payments to be equal to his first retirement payment. (Do not let the retirement payments grow with inflation: Your father realizes that if inflation occurs the real value of his retirement income will decline year by year after he retires). His retirement income will begin the day he retires, 10 years from today, and he will then receive 24 additional annual payments. Inflation is expected to be 3% per year from today forward. He currently has $100,000 saved and expects to earn a return on his savings of 4% per year with annual compounding.

Required:
To the nearest dollar, how much must he save during each of the next 10 years (with equal deposits being made at the end of each year, beginning a year from today) to meet his retirement goal? (Note: Neither the amount he saves nor the amount he withdraws upon retirement is a growing annuity.) Do not round intermediate steps.

Answers

Answer:

$87,696

Explanation:

your father wants to get the same distribution during the whole 25 years that he is retired, but we must first determine the initial adjusted to inflation. The $55,000 that he currently earns will be equivalent to $55,000 x (1 + 3%)¹⁰ = $73,915.40 in 10 years.

Since your father wants to start collecting the distributions immediately after he retires, this is an annuity due. Using the present value of an annuity due formula, we can determine the money that he will need to have in 10 years.

PV = annual distribution x annuity factor

annual distribution = $73,915.40PV annuity due factor, 25 periods, 4% = 16.24696

PV = $73,915.40 x 16.24696 = $1,200,900.55

That PV now becomes our future value that must be saved.

Since your father already has $100,000 in his account, that will turn into $100,000 x (1 + 4%)¹⁰ = $148,024.43

This means that he is $1,200,900.55 - $148,024.43 = $1,052,876.12 short.

Using the future value of an ordinary annuity formula, we can determine his annual contribution:

annual contribution = FV / annuity factor

FV = $1,052,876.12

FV annuity factor, 4%, 10 periods = 12.006

annual contribution = $1,052,876.12 / 12.006 = $87,695.83 ≈ $87,696

Consider an economy that produces only chocolate bars. In year 1, the quantity produced is 3 bars and the price is $4. In year 2, the quantity produced is 4 bars and the price is $5. In year 3, the quantity produced is 5 bars and the price is $6. Using year 1 as the base year, compute nominal GDP, real GDP, and the GDP deflator for each year.

Answers

Answer:

The answer is below

Explanation:

The nominal GDP is the market value of goods within a country adjusted for price change.

Nominal GDP for year 1 = Total market value of goods at current price = 3 bars × $4 = $12

Nominal GDP for year 2 = Total market value of goods at current price = 4 bars × $5 = $20

Nominal GDP for year 3 = Total market value of goods at current price = 5 bars × $6 = $30

The real GDP is the market value of goods within a country at current price.

Real GDP for year 1 = Total market value of goods at base year price = 3 bars × $4 = $12

Real GDP for year 2 = Total market value of goods at base year price = 4 bars × $4 = $16

Real GDP for year 3 = Total market value of goods at base year price = 5 bars × $4 = $20

GDP deflator is the ratio of nominal GDP to real GDP multiplied by 100.

GDP deflator in year 1 = (Nominal GDP in year 1 / Real GDP in year 1) × 100 = ($12/$12) × 100 = 100

GDP deflator in year 2 = (Nominal GDP in year 2 / Real GDP in year 2) × 100 = ($20/$16) × 125 = 100

GDP deflator in year 3 = (Nominal GDP in year 3 / Real GDP in year 3) × 100 = ($30/$20) × 100 = 150

Brazil has a population of about 210​ million, with about 150 million over the age of 15. Of​ these, an estimated 25​ percent, or 37.5 million​ people, are functionally illiterate. The typical literate individual reads only about two nonacademic books per​ year, which is less than half the number read by the typical literate U.S. or European resident. Answer the following questions solely from the perspective of new growth​ theory:
Which of the following best explains the implications of​ Brazil's literacy and reading rates for its growth prospects in light of the key tenets of new growth theory.
A. Since economic growth is driven by international trade in technology and​ capital, if Brazil opens its​ borders, its literacy and reading rates will improve as the country experiences economic growth.
B. Since the development of human capital is an important determinant of economic​ growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.
C. Since it has been demonstrated that technological advancement and not human capital is the key determinant of economic​ growth, Brazil's literacy and reading rates should not affect its potential economic growth rate.
D. Since technologically advanced physical capital is necessary for economic​ growth, Brazil's literacy and reading rates suggests its economic growth rate will be lower because there are not enough skilled workers to operate sophisticated machinery.

Answers

Answer:

B)Since the development of human capital is an important determinant of economic​ growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.

Explanation:

From the question, we are informed about Brazil having a population of about 210​ million, with about 150 million over the age of 15. And Of​ these, an estimated 25​ percent, or 37.5 million​ people, are functionally illiterate, and also compare how the typical literate individual reads only about two nonacademic books per​ year, which is less than half the number read by the typical literate U.S. or European resident.

From the view of New growth theory,the option that explains the implications of​ Brazil's literacy and reading rates for its growth prospects is that Since the development of human capital is an important determinant of economic​ growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.

New growth theory, which was attributed to Paul Romer, explains about Economic growth in the long run in related to internal factors of with knowledge as well as human capital. In this scenario Brazil should arrive to make sure the literacy rate among people is increased as possible

During 2020, PC Software Inc. developed a new personal computer database management software package. Total expenditures on the project were $3,000,000, of which 40% occurred after the technological feasibility of the product had been established. The product was completed and offered for sale on January 1, 2021. During 2021, revenues from sales of the product totaled $4,800,000. The package is expected to be successfully marketable for five years, and the total revenues over the life of the product are estimated to be $20,000,000.
Required
A. Prepare the journal entry to account for the development of this product in 2020.
B. Prepare the journal entry to record the amortization of capitalized computer software development costs in 2021.
C. What disclosures are required in the December 31, 2021, financial statements regarding computer software costs?
At December 31, 2021, the unamortized software intangible asset totals ______. This is equal to _____ originally capitalized less amortization in 2021 of _______. The amount charged to expense as amortization of software intangible asset in 2021 was ______. The estimated net realizable value of computer software is greater than the remaining unamortized software intangible asset.

Answers

Answer:

Answer:

PC Software Inc.

A. Journal Entry to account for the development of software in 2020:

Debit Software $1,200,000

Debit Development Expenses $1,800,000

Credit Cash Account $3,000

To capitalize 40% software development costs.

B. Journal Entry to amortize Capitalize Computer Software Development in 2021:

Debit Amortization Expense $240,000

Credit Accumulated Amortization - Software $240,000

To record the amortization of the capitalized software.

C. At December 31, 2021, the unamortized software intangible asset totals _$960,000_____. This is equal to _$1,200,000____ originally capitalized less amortization in 2021 of _ $240,000______. The amount charged to expense as amortization of software intangible asset in 2021 was _$240,000_____. The estimated net realizable value of computer software is greater than the remaining unamortized software intangible asset.

Explanation:

The choice is for PC Software Inc. to follow the US GAAP rule, which states that development costs incurred for an internally-generated software should be capitalized only when the software is commercially feasible.  Based on this, only 40% of the software expenditures are capitalized.

The adjusted trial balance of Windsor, Inc. shows these data pertaining to sales at the end of its fiscal year, October 31, 2022: Sales Revenue $908,100; Freight-Out $13,400; Sales Returns and Allowances $19,800; and Sales Discounts $14,500.

Required:
Prepare the sales section of the income statement.

Answers

Answer

                                     Windsor, Inc

                           Income Statement (Partial)

                           For the year October 31, 2022

Revenue

Sales                                                                      $908,100

Less: Sales return and allowance     $19,800

          Sales Discount                         $14,500

                                                                               $34,300

Net Sales                                                                $837,800

Robin, who is a head of household and age 42, provides you with the following information from his financial records for 2019. Robin itemizes deductions. Regular income tax liability $142,125 PositiveAMT adjustments 30,000 AMT preferences 100,000 Taxable income 481,000 Calculate Robin's AMT for 2019. a.$12,636. b.$3,757. c.$12,032. d.$15,126.

Answers

Answer:

$15,158.

Explanation:

We can calculate the Robin's AMT for 2019 by first deducting the AMT exemption for 2019 and then multiplying it by the rate of 26% FOR 2019.

DATA

AMT preferences 100,000

PositiveAMT adjustments 30,000

Total AMT = $100,000 + $30,000 = $130,000

Solution

Exemption for 2019 = $71,700.

Robin's AMT for 2019 = ($130,000 - $71,700) × 26%

Robin's AMT for 2019 = $15,158.

5. Calculate sales revenue and gross profit under each of the four methods. (Round weighted-average cost amounts to 2 decimal places.)

Answers

Complete Question:

The Company has the following transactions related to its top-selling Mongoose mountain bike for the month of March. The Company uses a periodic inventory system.

Date Transactions Units Unit Cost Total Cost

March 1 Beginning inventory 20 $230 $4,600

March 5 Sale ($360 each) 15

March 9 Purchase 10 250 2,500

March 17 Sale ($410 each) 8

March 22 Purchase 10 260 2,600

March 27 Sale ($435 each) 12

March 30 Purchase 8 280 2,240

For the specific identification method, the March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase.

Required:

a. Calculate ending inventory and cost of goods sold at March 31, 2015, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists of bikes from the March 9 purchase, and the March 27 sale consists of four bikes

from beginning inventory and eight bikes from the March 22 purchase.

b. Using FIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

c. Using LIFO, calculate ending inventory and cost of goods sold at March 31, 2015.

d. Using weighted-average cost, calculate ending inventory and cost of goods sold at March 31, 2015.(Round your intermediate and final answers to 2 decimal places.)

e. Calculate sales revenue and gross profit under each of the four methods.

Answer:

The Company

Ending Inventory:

a. Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

Cost of goods sold = Cost of goods available for sale Minus Ending Inventory

= $11,940 - $3,490

= $8,450

b. FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $3,540

= $8,400

c. LIFO:

Ending Inventory:

March 1  Inventory     13    $230         $2,990

Cost of goods sold = Goods available for sale Minus Ending Inventory

= $11,940 - $2,990

= $8,950

d) Weighted -Average Cost:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

                                     Specific          FIFO         LIFO         Weighted

                               Identification                                           Average

Sales                           $13,900       $13,900      $13,900       $13,900.00

Cost of goods sold        8,450           8,400         8,950         $8,706.25

Gross profit                 $5,450         $5,500      $4,950          $5,193.75

Explanation:

Dat and Calculations:

Shop uses periodic inventory system

Date           Transactions               Units      Unit Cost    Total Cost   Total

March 1      Beginning inventory     20          $230         $4,600       Sales

March 5     Sale ($360 each)                   15   $360                          $5,400

March 9     Purchase                       10            250           2,500

March 17    Sale ($410 each)                   8     $410                           $3,280

March 22   Purchase                      10            260           2,600

March 27   Sale ($435 each)                12     $435                         $5,220

March 30   Purchase                      8             280           2,240

Total Goods available for sale     48   35                     $11,940   $13,900

Ending Inventory = 13 (48 - 35)

Weighted average cost = Cost of goods available for sale/Units of Goods available for sale

= $11,940/48 = $248.75

Specific Identification:

March 5 sale 15 consists of bikes from 15 beginning inventory Bal 5 - 4 = 1

March 17 sale 8 consists of bikes from the March 9 purchase  Bal  = 2

March 27 sale 12 consists of four bikes from beginning inventory and eight bikes from the March 22 purchase Bal  = 2

Ending Inventory:

Specific Identification:

Beginning inventory 1 * $230 = $230

March 9 purchase  2 *  $250 =  500

March 22 purchase 2 * $260 = 520

March 30   Purchase 8 * $280 =2,240

Total value of inventory 13 units = $3,490

FIFO:

March 22   Purchase     5   260     1,300

March 30   Purchase     8   280    2,240

Ending Inventory          13           $3,540

LIFO:

March 1      Beginning inventory     13    $230         $2,990

Weighted-Average Costs:

Ending Inventory = $248.75 * 13 = $3,233.75

Cost of Goods Sold = $248.75 * 35 = $8,706.25

Daily demand for a certain product is normally distributed with a mean of 138 and a standard deviation of 13. The supplier is reliable and maintains a constant lead time of 7 days. The cost of placing an order is $17 and the cost of holding inventory is $0.40 per unit per year. There are no stock-out costs, and unfilled orders are filled as soon as the order arrives. Assume sales occur over 358 days of the year.
Your goal here is to find the order quantity and reorder point to satisfy a 73 percent probability of not stocking out during the lead time.
a. To manage inventory, the company is using
Continuous review system
Periodic review system
b. Find the order quantity. (Round your answer to the nearest whole number.)
Order quantity books
c. Find the reorder point. (Use Excel's NORMSINV() function to find the correct critical value for the given α-level. Do not round intermediate calculations. Round "z" value to 2 decimal places and final answer to the nearest whole number.)
Reorder point

Answers

Answer:

A. Continuous review system

B. Order quantity = 2,049 Books

C. Reorder point=987

Explanation:

a. In order To manage inventory, the company is using what is called Continuous review system

b. Calculation to find the order quality

Using this formula

Order quantity = √((2DS)/H)

Let plug in the morning

Order quantity=√ ((2 x 49,404 x 17)/0.40)

Order quantity = 2,049 Books

(138*358=49,404)

C. Calculation for reorder point

First step is to find the σL

73 % S.L. - z = 0.613

Using this formula to find the σL

σL = (Lσ^2)

Let plug in the formula

σL=√(7(13)^2)

σL= 34.39

Second step is to find the Reorder point using this formula

R = d bar(L) + zσL

Let plug in the formula

Reorder point = (138)(7) + 0.613(34.39)

Reorder point = 966+21

Reorder point=987

Who was the first missionary to arrive in Africa?​

Answers

the london missionary sent david livingstone to south africa in 1840.

Answer:

David Livingstone in 1840.

Hope this helps ; )   Enjoy your day!

Brazil has a population of about 210​ million, with about 150 million over the age of 15. Of​ these, an estimated 25​ percent, or 37.5 million​ people, are functionally illiterate. The typical literate individual reads only about two nonacademic books per​ year, which is less than half the number read by the typical literate U.S. or European resident. Answer the following questions solely from the perspective of new growth​ theory:
Which of the following best explains the implications of​ Brazil's literacy and reading rates for its growth prospects in light of the key tenets of new growth theory.
A. Since economic growth is driven by international trade in technology and​ capital, if Brazil opens its​ borders, its literacy and reading rates will improve as the country experiences economic growth.
B. Since the development of human capital is an important determinant of economic​ growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.
C. Since it has been demonstrated that technological advancement and not human capital is the key determinant of economic​ growth, Brazil's literacy and reading rates should not affect its potential economic growth rate.
D. Since technologically advanced physical capital is necessary for economic​ growth, Brazil's literacy and reading rates suggests its economic growth rate will be lower because there are not enough skilled workers to operate sophisticated machinery.

Answers

Answer:

B. Since the development of human capital is an important determinant of economic​ growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.

Explanation:

According to the New Growth Theory, it is both human desire and capital the factors that drive economic growth the most.

A literate population that does not read a lot means a lower level of human capital for Brazil, which in turn means that Brazil has a lower potential for economic growth. In order to increase economic growth, the Brazilian government should promote readership among its population.

definition of observant in entrepreneur characteristics​

Answers

Answer:

In Entrepreneur characteristics, observant refers to the ability to quickly notice a certain pattern or unusual situation.

This skill is important because of these two following reasons:

- It helped the entrepreneur notice an existing trend. This trend could represent the things that are currently favored by the consumers in a certain market. Understanding trend will help you creating a product that can fit into that trend.

- It also help the entrepreneur notice the problems that occur internally. For example, being observant will help the entrepreneur notice the  negative emotion that the employees experience when facing a certain problem. After noticing this, the entrepreneur could develop some sort of strategy to lift their spirit.

All the following are characteristics of a tradable market except a. Easy Access b. Parity c. Liquidity d. Fungibility e. Lack of a Trend

Answers

Answer:

e. Lack of a Trend

Explanation:

The tradable market is the market in which the trading is to be done

It involves various attributes like parity, liquidity, fungibility but does not involve the lacking of a trend

Therefore according to the given situation, the option e is correct as it does not come under the tradable market characteristics

Therefore option e is right and the same is to be considered

Gary mails an offer to Brian on June 15. Brian receives the offer on June 16. Gary mails a revocation of the offer on June 17. Brian mails a letter of acceptance on June 18 and Gary receives the acceptance on June 20. Brian receives the revocation on June 19. Was a contract formed?

Answers

Answer:

Yes. Contract formed on June 18.

Explanation:

A contract is an agreement between two interest parties that has rights and obligations attached to them.

The fact that Brian mails a letter of acceptance on June 18 entails that an agreement has been reached.

Thus the date of the Contract is June 18.

When a company is in financial difficulty and cannot fully pay all of its creditors, the first lenders to be paid are the ________. A) stockholders

Answers

Answer:

Senior debtholder

Explanation:

In a case when the company is not able to pay the pull amount to its creditors so the first lender is senior debt holder as it became the priority to the company i.e. first the amount is paid to them and the amount i.e. remaining would be paid to others as the senior debtholders are secured as if we compared with the other type of debtholders in terms of collateralized of assets

On January 1, 2018, the chief operating officer of New Belgium, Jeff Stambaugh, signed a noncancellable lease for street equipment. The lease was for 10 years. The present value of payments expected to be made during the lease is $75,152. The township’s incremental borrowing rate is 7 percent. The $10,000 annual lease payment is due on the first day of each year beginning in 2018.

Required:
Prepare all journal entries necessary to record the lease transaction for 2018 and the payment made in 2019.

Answers

Answer:

Account Titles and Explanation                  Debit$      Credit$

2018

Expenditure-Capital outlays                       $75,152

    Other financing source-Capital leases                      $75,152

(To record expenditure-capital outlay)

Expenditure-capital lease principal             $10,000

    Voucher payable                                                         $10,000

(To record expenditure capital lease principal)

Voucher Payable                                           $10,000

      Cash                                                                             $10,000

(To record payment of expenditure)

2019

Expenditure-capital lease principal             $5,440

Expenditure-interest on capital lease          $4,560

      Voucher payable                                                       $10,000

(To record expenditure capital lease principal)

Voucher payable                                            $10,000

        Cash                                                                           $10,000

(To record payment of expenditure)

Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. The selling price and cost per unit data for 9,130 units of Fluoro2211 are as follows.

Per Unit Data
Selling Price $410
Direct Materials 150
Direct Labor 28
Variable Manufacturing Overhead 25
Fixed Manufacturing Overhead 43
Variable Selling 16
Fixed Selling and Administrative 23
Total Costs 285
Operating Margin $125

During the next year, sales of Fluoro2211 are expected to be 10,130 units. All costs will remain the same except for fixed manufacturing overhead, which will increase by 20%, and direct materials, which will increase by 10%. The selling price per unit for next year will be $420. Based on these data, Razor Inc.'s total contribution margin for next year will be: __________

Answers

Answer:

Total contribution margin= $1,884,180

Explanation:

Giving the following information:

Direct Materials 150

Direct Labor 28

Variable Manufacturing Overhead 25

Variable Selling 16

Sales in units= 10,130

Selling price= $420

Direct material cost= 150*1.1= $165

First, we need to calculate the unitary contribution margin:

Unitary contribution margin= selling price - total unitary variable cost

Unitary contribution margin= 420 - (28 + 25 + 16 + 165)

Unitary contribution margin= $186

Now, the total contribution margin:

Total contribution margin= 10,130*186

Total contribution margin= $1,884,180

Following is a complete list of accounts and account balances that appear in the general ledger as of August 1, 2020 for Flourish and Botts, Co. bookstore. Assume all accounts have their normal debit or credit balance.

Account: Amount: Account: Amount:
Cash $9,021 Common Stock $84
Accounts Receivable (A/R) $13,992 Additional Paid-In Capital $6,408
Inventory $4,033 Retained Earnings $7,220
Prepaid Rent $200 Sales Revenue $0
Equipment $7,200 Cost of Goods Sold $0
Accumulated Depreciation-Equipment $800 Wages Expense $0
Accounts Payable (A/P) $11,844 Interest Expense $0
Deferred Revenue $3,055 Depreciation Expense $0
Interest Payable $35 Rent Expense $0
Notes Payable $5,000

The following transactions were observed for August 2020:

Date: Transaction:
8/3 Purchased merchandise inventory on account for $11,941
8/6 Sold merchandise inventory, which originally cost $13,088, to customers for $20,972. Customers paid $2,400 in cash, the remaining $18,572 was purchased by customers on account.
8/16 Paid $2,750 in cash to workers for work done in August.
8/20 Received $17,046 in cash payments from customers on their accounts receivable.
8/27 Paid creditors $14,635 in cash for accounts payable.

Required:
Record all of the above transactions that occurred during the period using journal entries. Make sure to use proper formatting for all entries, and to include the date of each entry and a brief description of each entry. Do not make any end of the period adjusting or closing entries.

Answers

Answer:

Date        Particular                                Debit      Credit

8/3           Purchases                              11,941

                              Account payable                    11,941

8/6           Cost of good sold                  13,088

                              Inventory                                 13,088

8/6           Account Receivable               18,572

                Cash                                          2,400

                              Revenue                                  20,972

8/16         Wages expense                        2,750

                               Cash                                        2,750

8/20        Cash                                          17,046

                               Account Receivable               17,046

8/27         Account payable                      14,635

                               Cash                                         14,635

     

The following costs and inventory data were taken from the accounts of Simon Company for 2010:
January 1, 2011 December 31, 2011
Inventories:
Raw materials $ 8,000 $ 7,000
Work in process 15,000 13,000
Finished goods 16,000 12,000
Costs incurred at the end of December 31, 2011:-
Raw materials purchases $83,000
Direct labor 42,000
Factory rent 8,000
Factory utilities 10,000
Indirect materials 4,000
Indirect labor 6,000
Operating expenses 17,000
Instructions
a. Prepare a schedule showing the amount of direct materials used in production during the year.
b. Compute the amount of manufacturing overhead incurred during the year.
c. Prepare a schedule of Cost of Goods Manufactured for Simon Company for the year ended December 31, 2011 in good form.
d. Prepare the Cost of Goods Sold section of the Income Statement for Simon Company for the year ended December 31, 2011 in good form.

Answers

Answer:

Part a

Direct Materials Schedule

Beginning Materials                               $ 8,000

Add Purchases                                      $83,000

Less Ending Materials                          ($ 7,000)

Less Indirect materials                          ($4,000)

Direct Materials Used in Production    $80,000

Part b

Overheads Incurred during the year

                                     $

Factory rent                  8,000

Factory utilities            10,000

Indirect materials          4,000

Indirect labor                 6,000

Total Overheads       $28,000

Part c

Cost of Goods Manufactured Schedule

Direct Materials                                   $80,000

Direct labor                                          $42,000

Overheads                                           $28,000

Add Opening Work In Process           $15,000

Less Closing Work In Process           ($13,000)

Cost of Goods Manufactured           $152,000

Part d

Cost of Goods Sold

Beginning Finished goods Inventory       $16,000

Add Cost of Goods Manufactured         $152,000

Less Ending Finished Goods Inventory ($12,000)

Cost of Goods Sold                                 $156,000

Explanation:

The following steps must be done to reach the cost of goods sold :

Use the Manufacturing Cost Schedule to calculate the Cost of Goods ManufacturedUse the Finished Goods Inventory Account to calculate the Cost of Goods Sold.

See the calculations and schedules prepared above.

The following events pertain to James Cleaning Company:
1. Acquired $15,000 cash from the issue of common stock.
2. Provided services for $6,000 cash.
3. Provided $18,000 of services on account.
4. Collected $11,000 cash from the account receivable created in Event 3.
5. Paid $1,400 cash to purchase supplies.
6. Had $100 of supplies on hand at the end of the accounting period.
7. Received $3,600 cash in advance for services to be performed in the future.
8. Performed one-half of the services agreed to in Event 7.
9. Paid $6,500 for salaries expense.
10. Incurred $2,800 of other operating expenses on account.
11. Paid $2,100 cash on the account payable created in Event 10.
12. Paid a $1,000 cash dividend to the stockholders.
Required:Show the effects of the events on the financial statements using a horizontal statements model like the following one. In the Cash Flows column, use the letters OA to designate operating activity, IA for investing activity, FA for financing activity, NC for net change in cash and NA to indicate accounts not affected by the event. The first event is recorded as an example. (Enter any decreases to account balances and cash outflows with a minus sign

Answers

Answer:

I used an excel since there is not enough room here.    

Explanation:

Bird Corp.'s trademark was licensed to Brian Co. for royalties of 15% of the sales of the trademarked items. Royalties are payable semiannually on March 15 for sales in July through December of the prior year, and on September 15 for sales in January through June of the same year. Bird received the following royalties from Brian:
March 15 September 15
20X4 $5,000 $7,500
20X5 6,000 8,500
Brian estimated that the sales of the trademarked items would total $30,000 for July through December 20X5. In Bird's 20X5 Income Statement, the royalty revenue should be:______.
a. $13,000.
b. $14,500.
c. $19,000.
d. $20,500.

Answers

Answer:

a. $13,000

Explanation:

Calculation for what royalty revenue should be

First step is to find the estimated amount for the second half of the year

Royalties for the second half =

15%*$30,000

Royalties for the second half= $4,500

Now let Compute for the total royalty revenue

Total royalty revenue for 20X5=$8,500+$4,500

Total royalty revenue for 20X5=$13,000

Therefore the royalty revenue should be $13,000

Real options Projects are also often embedded with different options that can help making decisions under uncertainty. There are techniques used to evaluate these embedded options which are called real options. The models used to value these options are based on the type of the real option available for the project.
A real option embedded in a capital project gives the investing firm the right but not the obligation to buy, sell, or transform an asset at a set price during a specified period of time.
a. True
b. False
The managers of Atlanta Aeronautics Co. have included a shutdown option into the design of a proposed capital investment project:
I. This option provides a firm with the flexibility to make potentially profitable investments in the future that would not have been possible if the initial project had not been undertaken
II. This option allows a firm to temporarily terminate operations in order to prevent experiencing negative cash flows.
III. This option allows a project to be expanded if demand turns out to be greater than expected.
IV. This option allows the outputs of the production process to be altered if market conditions change during a project's life. Which of the listed statements best describes a shutdown option?
Statement II
Statement I
Statement III
Statement IV
None of the statements listed above describes a shutdown option.
Real option analysis adds value to a project when it is used for which of the following?
a. Modifying the way that decision makers perceive flexibility in capital budgeting activities
b. Expanding the way that managers view risk and uncertainty, seeing them as phenomena to be appreciated and exploited rather than feared and avoided.
c. Making managerial decision making less deliberate and analytical
d. Making managers aware of the consequences of their decisions and actions on the creation or destruction of value for a capital project.

Answers

Answer:

i) TRUE

ii)  II

iii) All except option 3

Explanation:

i) A real option embedded in a capital project gives the investing firm the right but not the obligation to buy, sell, or transform an asset at a set price during a specified period of time.   TRUE

ii) The statement that best describes a shutdown is : This option allows a firm to temporarily terminate operations in order to prevent experiencing negative cash flows

iii) . Modifying the way that decision makers perceive flexibility in capital budgeting activities ;

 Expanding the way that managers view risk and uncertainty, seeing them as phenomena to be appreciated and exploited rather than feared and avoided.

Making managers aware of the consequences of their decisions and actions on the creation or destruction of value for a capital project.

it is a type of text which is usually non-fiction​

Answers

Answer:

Major types

Common literacy examples of non fiction include expository, argumentative, functional, and opinion pieces;

essays on art or literature biographies memoirs journalism historical scientific technical economic writing

I WILL GIVE BRAINLIEST

Operations managers typically make more money than operators.

O True

O False

Answers

True explation google

Aracel Engineering completed the following transactions in the month of June.
a. Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $5,200, and $76,000 of drafting equipment to launch the company in exchange for common stock.
b. The company purchased land worth $56,000 for an office by paying $8,000 cash and signing a long-term not payable for $48,000.
c. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b.
d. The company paid $2,600 cash for the premium on an 18-month insurance policy.
e. The company completed and delivered a set of plans for a client and collected $6,200 cash.
f. The company purchased $32,000 of additional drafting equipment by paying $11,900 cash and signing a long-term not payable for $20,100.
g. The company completed $18,000 of engineering services for a client. This amount is to be received in 30 days.
h. The company purchased $2,000 of additional office equipment on credit.
i. The company completed engineering services for $25,000 on credit.
j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,409 rent cost must be paid within 30 days.
k. The company collected $7,000 cash in partial payment from the client described in transaction g.
l. The company paid $2,400 cash for wages to a drafting assistant.
m. The company paid $2,000 cash to settle the account payable created in transaction h.
n. The company paid $1,105 cash for minor maintenance of its drafting equipment.
o. The company paid $10,170 cash in dividends.
p. The company paid $2,400 cash for wages to a drafting assistant.
q. The company paid $4,000 cash for advertisements on the web during June.
1. Prepare general journal entries to record these transactions using the following titles: Cash (101); Accounts Receivable (106); Prepaid Insurance (108); Office equipment (163); Drafting Equipment (164); Building (170); Land (172); Accounts Payable (201); Notes Payable (250); Common Stock (307); Dividends (319); Engineering Fees Earned (402); Wages Expense (601); Equipment Rental Expense (602); Advertising Expense (603); and Repairs Expense (604).
Transaction General Journal Debit Credit
a.

Answers

Answer:

a. Jenna Aracel, the owner, invested $175,000 cash, office equipment with a value of $5,200, and $76,000 of drafting equipment to launch the company in exchange for common stock.

Dr Cash 175,000

Dr Office equipment 5,200

Dr Drafting equipment 76,000

    Cr Common stock 256,200

b. The company purchased land worth $56,000 for an office by paying $8,000 cash and signing a long-term not payable for $48,000.

Dr Land 56,000

    Cr Cash 8,000

    Cr Notes payable 48,000

c. The company purchased a portable building with $54,000 cash and moved it onto the land acquired in b.

Dr Building 54,000

    Cr Cash 54,000

d. The company paid $2,600 cash for the premium on an 18-month insurance policy.

Dr Prepaid insurance 2,600

    Cr Cash 2,600

e. The company completed and delivered a set of plans for a client and collected $6,200 cash.

Dr Cash 6,200

    Cr Engineering fees earned 6,200

f. The company purchased $32,000 of additional drafting equipment by paying $11,900 cash and signing a long-term not payable for $20,100.

Dr Drafting equipment 32,000

    Cr Cash 11,900

    Cr Notes payable 20,100

g. The company completed $18,000 of engineering services for a client. This amount is to be received in 30 days.

Dr Accounts receivable 18,000

    Cr Engineering fees earned 18,000

h. The company purchased $2,000 of additional office equipment on credit.

Dr Office equipment 2,000

    Cr Accounts payable 2,000

i. The company completed engineering services for $25,000 on credit.

Dr Accounts receivable 25,000

    Cr Engineering fees earned 25,000

j. The company received a bill for rent of equipment that was used on a recently completed job. The $1,409 rent cost must be paid within 30 days.

Dr Equipment rental expense 1,409

    Cr Accounts payable 1,409

k. The company collected $7,000 cash in partial payment from the client described in transaction g.

Dr Cash 7,000

    Cr Accounts receivable 7,000

l. The company paid $2,400 cash for wages to a drafting assistant.

Dr Wages expense 2,400

    Cr Cash 2,400

m. The company paid $2,000 cash to settle the account payable created in transaction h.

Dr Accounts payable 2,000

    Cr Cash 2,000

n. The company paid $1,105 cash for minor maintenance of its drafting equipment.

Dr Repairs expense 1,105

    Cr Cash 1,105

o. The company paid $10,170 cash in dividends.

Dr Dividends 10,170

    Cr Cash 10,170

p. The company paid $2,400 cash for wages to a drafting assistant.

Dr Wages expense 2,400

    Cr Cash 2,400

q. The company paid $4,000 cash for advertisements on the web during June.

Dr Advertising expense 4,000

    Cr Cash 4,000

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