Answer:
Villandry
Inventory Valuation:
a) The total value of products A, B, and C shown in inventory in the statement of financial position is:
$8,844
b) Difference and Effect of Weighted Average and FIFO Methods on Profit or Loss:
Villandry's FIFO method of valuing the cost of goods sold and ending inventory is based on the assumption that goods that are purchased first will be the first to be sold. With this assumption, the ending inventory always reflects the newest prices, while the cost of goods sold reflects the older prices. On the other hand, the weighted average method calculates the cost of goods sold and the ending inventory based on an average price. It divides the cost of goods available for sale by the quantity of goods available for sale. The average value obtained is then applied to compute the cost of goods sold and the ending inventory. What the weighted average method achieves is to even out the unit cost of inventory.
Therefore, they do not produce the same result. When prices are rising, as the FIFO method reflects more accurately the values of the cost of goods sold and ending inventory than the weighted average, it will also report higher profits or lower losses than the weighted average. The weighted average does not show such fluctuations.
Explanation:
a) Data and Calculations:
Net realisable List price value Purchase cost Inventory Value
Shs. Shs. Shs (list price -24%) Shs
Product A 3,600 5,100 3,876 3,600
Product B 2,900 2,800 2,128 2128
Product C 4,200 4,100 3,116 3,116
Total cost 10,700 12,000 9,120 8,844
b) The purchase costs are computed by deducting 24% trade discount from the suppliers' list prices. For example, for the total list price, taking away 24% trade discount will reduce the cost to $9,120 ($12,000 * 0.76). This purchase cost is then compared with the net realizable value to determine the inventory value for each product.
_____ refer(s) to the sale of programs on a station-by-station, market-by-market basis.
a) Makegoods
b) Syndication
c) Dayparts
d) Spot announcement
e) Participation basis
Answer:
a) makegoods
Explanation:
Because I got it right
Answer:
i believe the answer is a
Explanation:
A copyright registered on or after January 1, 1978 lasts how long?
the author's life plus fifty years
the author's life plus sixty years
the author's life plus seventy years
the author's life
Answer:
Life of the author plus seventy years
Explanation:
Answer:
the author's life plus seventy years
Explanation:
Assume that apples cost $0.50 in 2002 and $1 in 2009, whereas oranges cost $1 in 2002 and $1.50 in 2009. If 4 apples were produced in 2002 and 5 in 2009, whereas 3 oranges were produced in 2002 and 4 in 2009, then real GDP (in 2002 prices) in 2009 was:__________
a. $5
b. $6.50
c. $9.50
d. $11.
Answer:
B
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Nominal GDP is GDP calculated using current year prices while Real GDP is GDP calculated using base year prices. Real GDP has been adjusted for inflation.
(5 x $0.5) +( 4 x $1) = $6.50
The following actual and standard cost data for direct material and direct labor relate to the production of 4,000 units of product:
Actual Cost Standard Cost
Direct material 3,900 lbs. $5.30 4,000 lbs. $5.10
Direct labor 6,200 hrs, $8.40 6,000 hrs. $8.70
Determine the following variances:
Materials Variances
Actual cost:
Split cost:
Standard cost:
A. Materials price
B. Materials efficiency
Labor Variances
Actual cost:
Split cost:
Standard cost:
C. Labor rate
D. Labor efficiency
Answer:
Instructions are below.
Explanation:
Giving the following information:
Production= 4,000 units
Actual Cost Standard Cost
Direct material 3,900 lbs. $5.30 4,000 lbs. $5.10
Direct labor 6,200 hrs, $8.40 6,000 hrs. $8.70
To calculate the direct material price and efficiency variance, we need to use the following formulas:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (5.3 - 5.1)*4,000
Direct material price variance= $800 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (3,900 - 4,000)*5.3
Direct material quantity variance= $530 unfavorable
To calculate the direct labor efficiency and rate variance, we need to use the following formulas:
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (6,200 - 6,000)*8.4
Direct labor time (efficiency) variance= $1,680 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (8.4 - 8.7)*6,000
Direct labor rate variance= $1,800 unfavorable
PIRs (planned independent requirements) are calculated based on actual and forecasted sales.a) trueb) false
Answer:
A. True
Explanation:
Option A is correct because PIRs (planned independent requirements) are calculated based on actual and forecasted sales.
In PIR, the independent requirement for final goods is calculated by the sales and the activities /operation for material planning process.
A. At the garage, mechanics changed the
oil, fixed the brakes, and checked the
transmission
B. The delegates spent the day arguing
with each other rather than work together to
find common solutions.
C. Pat likes to jog, hiking, and playing
football
D. The production manager was asked to
write his report quickly, accurate, and in a
thorough manner.
Answer:
A. At the garage, mechanics changed the oil, fixed the brakes and checked the transmission.
Explanation:
g A corporation sold 26,000 shares of its $1 par value common stock at a cash price of $12 per share. The entry to record this transaction would be:
Answer:
Debit Cash $312,000; credit Common Stock $26,000; credit Paid-in Capital in Excess of Par Value, Common Stock $286,000.
Explanation:
The journal entry to record the given transaction is shown below:
Cash Dr (26,000 shares × $12) $312,000
To Common stock (26,000 shares × $1) $26,000
To Additional paid in capital in excess of par value - common stock $286,000
(Being the issuance of the common stock is recorded)
For recording we debited the cash as it increased the asset and credited the common stock and additional paid in capital as it also increased the equity
You have gathered the following information on your investments. What is the expected return on the portfolio?
Stock Number of Shares Price per Share Expected Return
F 270 36 13.16%
G 295 22 9.85%
H 235 48 10.47%
a. 11.27%
b. 12.22%
c. 11.16%
d. 11.75%
e. 12.69%
Answer:
The correct option is a. 11.27%.
Explanation:
Note: See the attached excel file for the computation of the e expected return on the portfolio.
The expected return on the portfolio is the addition of the products of weight of each asset in the portfolio and the expected return of each asset.
From the attached excel file, the expected return on the portfolio is 11.27%. Therefore, the correct option is a. 11.27%.
Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams estimated total overhead of $368,900; materials of $407,000 and direct labor of $217,000. During the year Adams incurred $415,000 in materials costs, $412,900 in overhead costs and $221,000 in direct labor costs. Compute the amount of overhead applied to jobs during the year.
a. $375,700.
b. $412,900.
c. $368,900.
d. $412,890.
e. $424,150.
Answer:
Allocated MOH= $375,700
Explanation:
Giving the following information:
Estimated total overhead= $368,900
Estimated direct labor= $217,000
Actual direct labor= $221,000
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 368,900/217,000
Predetermined manufacturing overhead rate= $1.7 per direct labor dollar
Now, we can allocate overhead based on actual labor costs:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 1.7*221,000
Allocated MOH= $375,700
On July 23 of the current year, Dakota Mining Co. pays $6,165,600 for land estimated to contain 8,808,000 tons of recoverable ore. It installs machinery costing $1,849,680 that has a 10-year life and no salvage value and is capable of mining the ore deposit in eight years. The machinery is paid for on July 25, seven days before mining operations begin. The company removes and sells 488,500 tons of ore during its first five months of operations ending on December 31. Depreciation of the machinery is in proportion to the mine's depletion as the machinery will be abandoned after the ore is mined.
Required:
Prepare entries to record the following:_______.
(a)To record the purchase of the land.
(b)To record the cost and installation of machinery.
(c) To record the first five months' depletion assuming the land has a net salvage value of zero after the ore is mined.
(d)To record the first five months' depreciation on the machinery.
Answer:
a) July 23, 202x, purchase of land parcel (for mining purposes)
Dr Land and ore deposits 6,165,600
Cr Cash 6,165,600
b) July 25, 202x, purchase and installation of mining machinery
Dr Machinery 1,849,680
Cr Cash 1,849,680
c) December 31, 202x, depleting expense of ore deposits
Dr Depleting expense 341,917
Cr Accumulated depletion: land and ore deposits 341,917
depleting expense = ($6,165,600 / 8,808,000 tons) x 488,500 tons = $341,917
d) December 31, 202x, depreciation expense of machinery
Dr Depreciation expense 102,585
Cr Accumulated depreciation: machinery 102,585
depreciation expense = ($1,849,680 / 8,808,000 tons) x 488,500 tons = $102,585
If the price of a soda is $2, the price of a hamburger is $6, and George has $20 of income, George's utility maximizing combination of sodas and hamburgers per day is:
Answer:
2 hamburgers and 4 sodas
Explanation:
The utility's function was missing, so I looked for it:
Hamburgers per Day Total Utility Marginal Utility MU per $
1 30 30 5
2 52 22 3.67
3 67 15 2.5
4 76 9 1.5
5 80 4 0.67
Sodas per Day Total Utility Marginal Utility MU per $
1 20 20 10
2 35 15 7.5
3 47 12 6
4 57 10 5
5 64 7 3.5
If George wants to maximize his utility per dollar spent, he should buy 2 hamburgers and 4 sodas. This will yield him 52 utils (form hamburgers) and 57 utils (form sodas) = 109 utils per day
Assume company can produce any amount above 3.4 units. Naploc purchased the equipment for $12,000 and did not start production yet. Market price is $400. Tebit Inc, another company that operates in the same industry desperately needs equipment and makes an offer to Naples. Debit already knows Naples cost structure. What is the lowest price that Tebit should offer for the equipment
Answer: $12,000
Explanation:
As no production has been started yet, no other costs have been incurred by Naples for the equipment other than the $12,000.
The lowest price that Tebit should offer therefore should be the price that the equipment was purchased for as the equipment has not not been used to produce anything and so has not incurred any variable costs or donated any incremental value that would decrease or increase its value.
Considering the communication process, an advertisement of a particular copier machine model would be considered:
Answer: encoding
Explanation:
Considering the communication process, an advertisement of a particular copier machine model would be considered encoding.
Encoding simply helps in the translatation of the idea relgarding a message into symbols or words which should be easily understood by the receiver. The copier machine is sending tothe sender.
A bond with an annual coupon rate of 7.2% sells for $988.22. What is the bond’s current yield? (Round your answer to 2 decimal places.)
Answer:
7.29%
Explanation:
The computation of the current yield of the bond is shown below;
Current yield is
= (Par value × annual coupon rate) ÷ Selling price of the bond
= ($1,000 × 7.2%) ÷ $988.22
= $72 ÷ $988.22
= 7.29%
Hence, the bond current yield is 7.29%
This is to be computed by applying the above formula so that the current bond yield could arrive
Which of the following is true of optional-product pricing? Question 11 options: 1) It involves setting geographically specific prices. 2) It involves pricing products that can be added to the base product. 3) It is used to price products that must be used with the company's main product. 4) It involves capitalizing on low value by-products. 5) It is used to price a company's main product.
Answer: 2) It involves pricing products that can be added to the base product.
Explanation:
Optional-product planning is a method of pricing where the producer lure buyers in by selling at a cheap price which can sometimes even fall below their cost price. These products however can not be fully utilized alone or as they are. They require accessories.
This is where the company hopes to make up the profit. They charge low on the main product, then hope to make up the cost when you buy the accessories. An example would be Printers and ink.
This is a risky method of selling and so needs the accessories to be priced in such a way that the company makes no losses.
Tulip Inc. uses standard costing, and its manufacturing standards are as follows: 2 pounds of materials at $13 per pound, and 3 hours of labor at $10 per hour. Budgeted production last period was 5,000 units, and actual production was 4,800 units. Last period, Tulip purchased and used 9,800 pounds of materials for $135,000, and used 15,000 labor hours, costing $145,000. WHat is the journal entry to record direct labor costs to the costs of goods sold account
Answer:
Dr Work In Progress $144,000
Dr Direct Labor Cost Variance $1,000
Cr Wages Payable $145,000
Explanation:
The first step would be to calculate the direct labor variance which is calculated as under:
Direct Labor Cost Variance = Standard Labor Cost of Actual Production - Actual Labor Cost for Actual Production
Standard Labor Cost of Actual Production = Standard Labor Cost * Actual Production
Here
Actual Production is 4,800 Units and standard labor cost is 3 Hrs at $10 per hour which means:
Standard Labor Cost of Actual Production = 4,800 Units * 3 Hrs * $10 per Hr
= $144,000
Actual Labor Cost for Actual Production is $145,000
By putting the values in the above equation, we have:
Direct Labor Cost Variance = $144,000 - $145,000 = ($1,000) Unfavorable
The double entry would be:
Dr Work In Progress $144,000
Dr Direct Labor Cost Variance $1,000
Cr Wages Payable $145,000
Shares of common stock of the Samson Co. offer an expected total return of 13.00 percent. The dividend is increasing at a constant 5.40 percent per year. The dividend yield must be:
Answer:
the dividend yield is 7.60%
Explanation:
The computation of the dividend yield is shown below:
As we know that
Required return = Dividend yield + Capital Gain Yield or growth rate
13% = Dividend yield + 5.4%
So, the dividend yield is
= 13% - 5.4%
= 7.60%
Hence, the dividend yield is 7.60%
We simply applied the above formula so that the dividend yield could come
Ploeger Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range.Sales (4,000 units) $ 240,000Variable expenses $156,000Contribution margin $84,000Fixed expenses $81,900Net operating income $2,100What is the break-even point for Ploeger Corporation in dollar sales?
Answer:
Break-even point (dollars)= $234,000
Explanation:
Giving the following information:
Sales (4,000 units) $240,000
Variable expenses $156,000
Fixed expenses $81,900
To calculate the break-even point in dollars, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 81,900/ [(240,000 - 156,000)/240,000]
Break-even point (dollars)= 81,900/0.35
Break-even point (dollars)= $234,000
You hold short positions of a stock and believe the price of the stock is going to decline within the next three months. However, you realize the stock price could increase and want to hedge that risk. Which one of the following option positions should you take to create the desired hedge? A) Buy a call B) Sell a call C) Buy a put D) Sell a put E) No option position will create the desired hedge
Answer: A) Buy a call
Explanation:
A Call Option is a derivative instrument where a person buys the option to be able to buy an asset at a set price. The call option therefore makes a profit if the price of the asset increases past the set (exercise ) price as the holder of the call option will be able to buy the asset for lower than it's market value.
If you believe that the price is likely to increase then you should buy a call option so that if it does increase, you can make a profit from the call option that would offset your loss from the short positions.
After posting the entries to close all revenue and expense accounts, the Income Summary account of Cleaver Auto Services has a $5,700 debit balance. This result implies that Cleaver earned a net income of $5,700.
a) true
b) false
Answer: False
Explanation:
The Income Summary Account contains the ending accounts of all revenue and expense accounts in a company with the net amount transferred to the account being the company's net profit (loss).
Income as an equity item is credited when it increases and debited when it decreases meaning that a debit represents a net loss. Cleaver Auto Services having a $5,700 debit balance in their Income summary account means that they have made losses of $5,700 not income.
Which of the following is not a part of checking a diversified company's business units for cross-business competitive advantage potential?
A. Ascertaining the extent to which sister business units have value chain match-ups that offer opportunities to combine the performance of related value chain activities and reduce costs
B. Ascertaining the extent to which sister business units have value chain match-ups that offer opportunities to transfer skills or technology or intellectual capital from one business to another
C. Ascertaining the extent to which sister business units are making maximum use of the parent company's competitive advantages
Answer:
C. Ascertaining the extent to which sister business units are making maximum use of the parent company's competitive advantages.
Explanation:
For a diversified company that has many business units, it is important for the sister units to provide opportunities that make more profit for the business.
These opportunities are generated by the ability of each sister unit to have a unique competitive edge not shared by other business units.
In analysing cross business competitive advantage among sister units, we don't consider which sister business units are making maximum use of the parent company's competitive advantages.
This is because the company's competitive advantage is a trait shared by all the business units. It does not show a unique competitive edge of sister units.
suppose the returns on long term corporate bonds and T-bills are normally distributed. Based on the values below answer the following questions: what is the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent? long term corporate bonds average return= 6.30%
Answer:
32.35% ( the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent )
Explanation:
Given data for long-term corporate bonds
Standard deviation : 8.3%
mean = 6.2%
To calculate the probability that in any given year, the return on long-term corporate bonds will be greater than 10 percent ( USING THE NORM-DIST FUNCTION )
P( x > 10% ) = 1 - P(x<10%) = 1 - NORM-DIST (10,6.2,8.3,TRUE ) = 0.3235
= 32.35%
attached below is the missing part of your question
Arlington Company is constructing a building. Construction began on January 1 and was completed on December 31. Expenditures were $6,400,000 on March 1, $5,280,000 on June 1, and $8,000,000 on December 31. Arlington Company borrowed $3,200,000 on January 1 on a 5-year, 12% note to help finance construction of the building. In addition, the company had outstanding all year a 10%, 3-year, $6,400,000 note payable and an 11%, 4-year, $12,000,000 note payable. What is the avoidable interest for Arlington Company?
Answer:
Avoidable interest for Arlington Company is $939,220
Explanation:
Arlington Company
Schedule of Weighted-Average accumulated expenditure
Date Amount Current year Weighted Average
capitalization Accumulated
period Expenditures
1-Mar $6,400,000 10/12 $5,333,333
1-Jun $5,280,000 7/12 $3,080,000
31-Dec $8,000,000 0/12 $0
Total $19,680,000. $8,413,333
Note: Weighted-Average accumulated expenditure = Amount * Current year capitalization period
Weighted average interest rate on general borrowings = 10% * (6,400,000 / 18,400,000) + 11%* (12,000,000 / 18,400,000)
=10.65%
Interest for specific borrowing should be capitalized for entire year.
Avoidable interest = ($3,200,000*12%) + ($8,413,333 - $3,200,000) * 10.65%
Avoidable interest = $939,220
Suppose that M is fixed but that P falls. According to the quantity equation which of the following could both by themselves explain the decrease in P?
A. Y and V stay the same.
B. Y fell.
C. V rose.
D. V fell.
Answer:
D. V fell.
Explanation:
According to the quantity theory :
Money Supply x Velocity = Price x Output
If money supply is fixed, price is directly proportional to velocity.
If price fell, then velocity also fell.
V fell and Y rose
According to, "Ditching the Dollar," having multiple reserve currencies to choose from is healthy because:
Answer: D. If one country creates all the reserves it can prevent other countries from trading.
Explanation:
Ditching the Dollar refers to a movement by nations to reduce the dependence on the US. dollar for transactions.
The USD is the major currency for trade around the world with it accounting for the currency of use in more than 50% of the entire World trade. This was due to the Bretton Woods Agreement and System which at the time pegged the USD to gold and other currencies at certain value to the USD.
The influence the USD gained that day continues today. Countries however are increasing becoming fed up by the United States using the Dollar to impose trade restrictions and sanctions on countries and then requiring everyone to fall in line because trades are mostly done in the currency controlled by the US, the USD.
For instance, when sanctions were imposed on Iran, the European Union looked for alternative means of payment for Iranian oil.
Ditching the Dollar therefore argues that having multiple reserve currencies to choose from is healthy because one country will not be able to control world trade as the US has.
Which federally supported credit agency was established to trade student loan debt?
A. Fannie Mae.
B. Freddie Mac.
C. Farmer Mac.
D. Sallie Mae.
Answer:
D. Sallie Mae.
Explanation:
Sallie Mae was established to trade students loan debt. The association provided debt management services. Initially it was known as the Student Loan Marketing Association and it was first set up in 1973. The association used to be if the government because it was used to give federal education loans. It became private later on and was used to finance private loans for education.
Rex and Sandy are partners. Rex has a capital balance of and Sandy has a capital balance of . Marcus contributes a building with a fair market value of in order to acquire an interest in the partnership. What is Marcus's partnership share after he makes the investment? (Assume no bonus to any partner. Round the percentage to one decimal place.)
Answer:
25.29%
Explanation:
the numbers are missing, so I looked for a similar question:
Rex's capital balance = $370,000Sandy's capital balance = $280,000Marcus contributed a building worth = $220,000the partnership's total capital = $370,000 + $280,000 + $220,000 = $870,000
Marcus's share in the partnership = value of building / partnership's total capital = $220,000 / $870,000 = 25.29%
For a certain item, the cost-minimizing order quantity obtained with the basic EOQ model is 200 units, and the total annual inventory (carrying and setup) cost is $400. What is the inventory carrying cost per unit per year for this item? $2.00 $3.00 $150.00 $1.00 not enough data to determin
Answer:
$2 per unit per year
Explanation:
The calculation of the inventory carrying cost per unit per year is shown below:
Inventory Carrying cost per unit per year is
= Total Annual Inventory cost ÷ Economic order quantity
= $400 ÷ 200 units
= $2 per unit per year
It is computed By dividing the total annual inventory cost from the economic order quantity, in order to get the inventory carrying cost
Therefore, the first option is correct
a. Computer stocks currently provide an expected rate of return of 16%. MBI, a large computer company, will pay a year-end dividend of $2 per share. If the stock is selling at $50 per share, what must be the market's expectation of the growth rate of MBI dividends? (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. If dividend growth forecasts for MBI are revised downward to 5% per year, what will be the price of the MBI stock? (Round your answer to 2 decimal places.) c. What (qualitatively) will happen to the company's price–earnings ratio? The P/E ratio will decrease. The P/E ratio will increase.
Answer:
a)
$50 = $2 / (16% - g)
16% - g = $2 / $50 = 4%
g = 16% - 4% = 12%
expected growth rate = 12%
b)
P₀ = $2 / (16% - 5%)
P₀ = $2 / 11%
P₀ = $18.18
c)
P/E ratio = share price / EPS
since the share price decreases from $50 to $18.18, the P/E ratio will decrease. When you are dividing a number, if the numerator decreases while the denominator remains still, the answer will decrease.
Growth rate in case 1 and Current Stock Price in case 2 are 12% and $18.18
Computation:
Case 1 ; Using Gordon's Model,
P = D1/(r - g)
50 = 2/(16% - g)
50 = 2/(0.16 - g)
0.16 - g = 2/50
0.16 - g = 0.04
g = 0.16 - 0.04
g = 0.12
Growth rate = 12%
Case 2 ; Using Gordon's Model,
P = D1/(r - g)
P = 2/(16% - 5%)
P = 2/(0.16 - 0.05)
Current Stock Price P = $18.18
Case 3;
Because the value of the shares has dropped, the P/E ratio has dropped as well. As a result, the P/E ratio will fall.
Learn more:
https://brainly.com/question/16881376?referrer=searchResults
In a lean environment, the journal entry to record conversion costs would include a debit to the raw and in process inventory account.
a) true
b) false
Answer: True
Explanation:
Lean is used by organizations in order to prevent wastages and to also improve the effectiveness and efficiency at such organizations.
In a lean environment, the journal entry to record conversion costs would include a debit to the raw and in process inventory account.
The answer above is true.