Answer:
d. This question draws from the decision maker's personal philosophy as well as the commitments he or she owes to the corporation and its shareholders.
Explanation:
This is likely the answer to the question about the decision making model which was drawn or dependent heavily on the thoughts of Joseph L. Badaracco Jr.
how do i get bachelors degree i am in high school and i amgoing to college and in this years what do i do to get bachelors degree
Answer:
I think to get a bachelor's degree you have to pick a major then do 4 years of college.
Describe a scenario that forced you to wrestle with your values?
Answer:
To use brainly or to not use brainly. I dont like cheating but sometimes I realy need help.
Explanation:
BitcoinLotto:
Suppose the nation of Bitcoinia has decided to convert its national lottery to use Bitcoin. A trusted scratch-off ticket printing factory exists and will not keep records of any values printed. Bitcoinia proposes a simple design: a weekly run of tickets is printed with an address holding the jackpot on each ticket. This allows everybody to verify the jackpot exists.
The winning ticket contains the correct private key under the scratch material.
7.1. What might happen if the winner finds the ticket on Monday and immediately claims the jackpot? Can you modify your design to ensure this won’t be an issue?
7.2. Some tickets inevitably get lost or destroyed. So you’d like to modify the design to roll forward any unclaimed jackpot from Week n to the winner in Week n+1 .
Can you propose a design that works, without letting the lottery administrators embezzle funds? Also make sure that the Week n winner can’t simply wait until the beginning of Week n+1 to attempt to double their winnings.
Answer and Explanation:
1.Since we only want the winnings claimed by the end if the week, we would have to make sure the keys on the tickets are not activated until the end of the week, also verification of winnings occur by end of the week. This way someone cannot immediately unlock their bitcoin on a Monday but may just scratch the ticket.
2. Bitcoin wallets cannot be unlocked without the private key and so there is no other option when ticket is lost as bitcoin cannot be retrieved. Therefore it is important that tickets are secured properly during production and after when issued to contestants
The tickets are available to anybody. However, scratching should be permitted on the last day of the week, which is Saturday.
If any tickets are lost or destroyed, there is no method to recover the bitcoin due to the current bitcoin nature.
Bitcoin and ticket:The key to release the bitcoin should be date-protected and triggered on the week's last working day. So, even if someone buys a ticket on Monday and attempts to unlock it right away, he won't be able to till the end of the week. Fairness can be achieved in this manner.
The only method to avoid this is to protect the printing so that it cannot be stolen or destroyed during the ticket making process.
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Orie and Jane, husband and wife, operate a sole proprietorship. They expect their taxable income next year to be $450,000, of which $250,000 is attributed to the sole proprietorship. Orie and Jane are contemplating incorporating their sole proprietorship. (Use the tax rate schedule.) a. Using the married-joint tax brackets and the corporate tax rate, find out how much current tax this strategy could save Orie and Jane. (Round your intermediate calculations and final answer to nearest whole dollar amount.)
Answer:
Total savings = $361,341 - $342,910 = $18,431, but $197,500 must be left in the corporation.
Explanation:
using the 2020 tax schedule, their current tax liability is:
$94,735 + [35% x ($450,000 - $414,700)] = $107,090
after tax income = $450,000 - $107,090 = $342,910
if we consider the business a corporation:
$250,000 x 21% = $52,500
after tax income = $197,500
plus the $200,000 in ordinary income:
$29,211 + [24% x ($200,000 - $171,050)] = $36,159
after tax income = $163,841
total after tax income = $197,500 + $163,841 = $361,341
Total savings = $361,341 - $342,910 = $18,431, but $197,500 must be left in the corporation.
In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information: Cash balance per company books on April 30 $ 6,210 Deposits in transit at month-end $ 1,430 Outstanding checks at month-end $ 750 Bank charge for printing new checks $ 110 Note receivable and interest collected by bank on Donahue’s behalf $ 640 A check paid to Donahue during the month by a customer is returned by the bank as NSF $ 610 The adjusted cash balance per the books on April 30 is:
Answer:
$6,130
Explanation :
The adjusted cash balance can be determined by doing the following steps
Prepare an updated Cash Book to update the Cash Book Balance and,Prepare a Bank Reconciliation Statement to check the accuracy of the new Cash Book BalanceStep 1 : Updated Cash Book
Cash Book (Bank columns only)
Debit :
Unadjusted Balance as at April 30 $ 6,210
Credit Transfers $ 640
Total $6,850
Credit:
Bank charges $ 110
Dishonored checks $ 610
Adjusted Balance (Balancing figure) $6,130
Total $6,850
Step 2 : Bank Reconciliation Statement
Bank Reconciliation Statement as at April 30
Balance as per Cash Book (updated) $6,130
Less Outstanding Lodgements ($ 1,430)
Add Unpresented Checks $ 750
Balance as per Bank Statement $5,450
Block Island TV currently sells large televisions for $380. It has costs of $320. A competitor is bringing a new large television to market that will sell for $360. Management believes it must lower the price to $360 to compete in the market for large televisions. Marketing believes that the new price will cause sales to increase by 10%, even with a new competitor in the market. Block Island TV sales are currently 150,000 televisions per year. What is the change in operating income if marketing is correct and only the sales price is changed? Group of answer choices $6,600,000 $3,000,000 $(6,600,000) ($2,400,000)
Answer:
Effect on income= (2,400,000)
Explanation:
Giving the following information:
Current selling price= $380
New selling price= $360
Unitary cost= $320
Units sold= 150,000*1.1= 165,000
We need to calculate the effect on income:
Effect on income= contribution margin new sales - contribution margin old sales
Effect on income= 15,000*(360 - 320) - 150,000*(380-360)
Effect on income= (2,400,000)
Prove:
New income= 165,000*40= 6,600,000
Actual income= 150,000*(380-320)= 9,000,000
Difference= (2,400,000)
What documents the scope of the project, identifies major tasks and resources and describes any interrelationships with other projects
Answer:
"Project initiation" is the correct approach.
Explanation:
The start including its project would be the very first stage of project management which determines project priorities, scope statement, development plan, associated risks, monitoring mechanisms, interrelationship with several other processes mentioned. A team is formed during this development of the company, and perhaps a business case becomes developed to describe the campaign in depth.You are meeting with your company’s raw materials purchasing agents. As a group, you are discussing when raw materials orders should be placed based on production needs and supplier lead times. You have compiled the following production needs and lead time information: After you place an order for raw materials, the shipment usually arrives at your warehouse five days later. You determined that your production processes use about 300 units of raw materials per day. You want to keep your inventory carrying costs down and your supplier has a 100% on time-delivery rate. As a result, you decide to carry no inventory buffer. Based on the information presented and given your daily raw materials usage and the lead time for raw materials orders, what minimum units of raw materials inventory should your company maintain at all times?
Answer:
this company's reorder point should be 1,500 units of raw materials.
Explanation:
The reorder point is the minimum level that you can hold on inventory before purchasing more materials. It is calculated by multiplying a company's daily needs (300 units per day) x the delivery lead time (5 days) = 1,500 units.
If the company decided to keep a safety stock, then in order to determine the minimum inventory level you would need to add the desired safety stock + 1,500 units.
Margin of Safety a. If Canace Company, with a break-even point at $558,900 of sales, has actual sales of $690,000, what is the margin of safety expressed (1) in dollars and (2) as a percentage of sales? Round the percentage to the nearest whole number. 1. $ 2. % b. If the margin of safety for Canace Company was 30%, fixed costs were $1,201,200, and variable costs were 70% of sales, what was the amount of actual sales (dollars)? (Hint: Determine the break-even in sales dollars first.) $
Answer:
a.
(1)
Margin of Safety = $131,100
(2)
Margin of Safety as % of Sales = 19%
b.
Actual Sales = $5,720,000
Explanation:
Margin of safety is the value of sales by which the business is safe from the loss. It means all the made in excess of breakeven point is the margin of safety.
a.
(1)
Margin of Safety = Actual Sales - Breakeven point = $690,000 - $558,900 = $131,100
(2)
Margin of Safety as % of Sales = (Margin of Safety / Actual Sales ) x 100 = 19%
b.
First of all calculate the Contribution margin ratio
Contribution margin ratio = 100% - Variable cost ratio = 100% - 70% = 30%
Breakeven Sales = Fixed cost / Contribution margin ratio = $1,201,200 / 30% = $4,004,000
As the margin of safety is 30% of actual sales, so the breakeven sales i 70% ( 100% - 30% ) of Actual Sales
Actual Sales = Breakeven Sales / Breakeven sales to acual sales ratio
Actual Sales = $4,004,000 / 70%
Actual Sales = $5,720,000
What is Chris Records LifePreneur Online Educational Training Program?
Answer:
Chris Record announced the launch of his new company LifePreneur in partnership with Peter Sorenson.
Chris Record started his entrepreneurial journey in direct sales with a company called Nouveau Riche that specialized in Real Estate Investment training. As the real estate market took a hit, Chris shifted his attention to online marketing, skills that will allow him to excel in any business.
Answer:
LifePreneur stands for Lifesyle Entrepreneur.
Lifepreneur is a membership program that you can join to get training in various aspects of online marketing, training and advice and investing, live in-person mentorship from Chris Record himself, and more. It is a membership program that you can sign up for free and it's designed to help you grow into more than just a business entrepreneur… A Lifepreneur. More info : reddit's /r/LifePreneur
The Titanic Company had the following cash transactions during 20XX: Received $300,000 from customers. Received $10,000 dividend revenue from stock investments. Purchased equipment for $70,000. Sold land for $40,000 which had a book value of $50,000. The 20XX cash flows from INVESTING Activities would be reported as:__________. A. net decrease in cash of $30,000. B. net decrease in cash of $10,000. C. net increase in cash of $280,000. D. net increase in cash of $240,000. E. net decrease in cash of $20,000
Answer:
E
Explanation:
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
Airdrive Corporation reported net income of $150,000 for 2019 and $165,000 for 2020. Early in 2020, Airdrive discovers that the December 31, 2019 ending inventory was overstated by $8,100. For simplicity, ignore taxes. Required: 1. What is the correct net income for 2019? For 2020? Net Income 2019 $ 2020 $ 2. Assuming the error was not corrected, what is the effect on the balance sheet at December 31, 2019? At December 31, 2020? December 31, 2019 December 31, 2020
Answer:
Please see answers below
Explanation:
1. 2019 net income would be $141,900
[$150,000 - $8,100] = $141,900
2020 net income would be $173,100
[$165,000 + $8,100] = $173,100
2. We assumed that if the error committed for both year 2019 and 2020 are not corrected, them same income for both year stands.
2019 $165,000
2020 $150,000
It means that balance sheet of 2019 remains overvalued by $8,100
Answer:
Poop
Explanation:
Sanchez Company engaged in the following transactions during Year 1: Started the business by issuing $42,000 of common stock for cash. The company paid cash to purchase $26,400 of inventory. The company sold inventory that cost $16,000 for $30,600 cash. Operating expenses incurred and paid during the year, $14,000. Sanchez Company engaged in the following transactions during Year 2: The company paid cash to purchase $35,200 of inventory. The company sold inventory that cost $32,800 for $57,000 cash. Operating expenses incurred and paid during the year, $18,000. Sanchez uses the perpetual inventory system. What is Sanchez's gross margin for the Year 2?
Answer:
The gross margin is $24,200
Explanation:
The computation of the gross margin is shown below:
As we know that
Gross margin is
= Sales - cost of goods sold
= $57,000 - $32,800
= $24,200
We simply deduct the cost of goods sold from the sales so that the gross margin could come
hence, the gross margin is $24,200
We simply applied the above formula
State of the Economy Is the Economy in a Recessionary Gap, Inflationary Gap, or Long-Run Equilibrium? Does Equilibrium, a Shortage, or a Surplus Exist in the Labor Market? Will Wages Fall, Rise, or Remain Unchanged? Will the SRAS Curve Shift Right, Left, or Remain Unchanged? Is the Economy Above, Below, or on Its Institutional PPF? QQNQ>QN Q=QNQ=QN
Answer:
Natural GDP is the optimum quantity of goods and services that a country is expected to be producing per year. It is based on the various resources and constraints available in the economy.
Real GDP is the inflation adjusted value of goods and services actually produced in the country in a year.
1. Q < Qn ⇒ Recessionary Gap ⇒ Surplus in labor market ⇒ Wages will fall ⇒ SRAS will shift right ⇒ Below PPF
At this point where Natural GDP is above Real GDP, the nation is underproducing which means it is in a recessionary gap. Many will be unemployed so there will be a surplus in the labor market which makes labor cheap so wages will fall. The SRAS will shift right as input costs will be lower (wages) but the economy is inefficient so it is below its PPF.
2. Q > Qn ⇒ Inflationary Gap ⇒ Shortage in Labor market ⇒ Wages rise ⇒ SRAS shifts left ⇒ Above PPF
Real GDP is higher than the Natural GDP. The economy will be in an inflationary gap as a result and there will be a shortage in the labor market s companies look for more people to produce more which will lead to a rise in wages. With the ride in wages comes a rise in production costs so SRAS will shift left. The country will be above its PPF which is unattainable.
3. Q = Qn ⇒ Long Run Equilibrium ⇒ Labor Market Equilibrium ⇒ Unchanged wages ⇒ Unchanged SRAS ⇒ Producing at PPF boundary
This is the ideal situation where Real GDP equals Natural. Here the economy will be in a long run equilibrium where the labor market will also be in equilibrium which means that wages will not change, SRAS will remain where it is and the economy will be at the Production Possibilities Frontier (PPF) boundary.
NU YU announced today that it will begin paying annual dividends. The first dividend will be paid next year in the amount of $.59 a share. The following dividends will be $.64, $.79, and $1.09 a share annually for the following three years, respectively. After that, dividends are projected to increase by 3.9 percent per year. How much are you willing to pay today to buy one share of this stock if your desired rate of return is 13 percent? Multiple Choice $9.87 $12.45 $2.47 $13.04 $12.93
Answer:
$9.87
Explanation:
The first step is to find the present value of the dividend in the first stage
Present value can be found using a financial calculator
D1 = $.59
D2 = $.64
D3 = $.79
D4 = $1.09
I = 13%
Present value = $2.24
value in the stage of indefinite growth = $1.09(1.039) / (0.13 - 0.039) = 1.132510 / 0.091 = 12.45
Present vale of the stage of indefinite growth = 12.45 / 1.13^4 = 7.64
$7.64 + $2.24 = $9.87
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
1. Classify the following manufacturing costs of Business Solutions as (a) variable or fixed and (b) direct or indirect. 2. Prepare a schedule of cost of goods manufactured for Business Solutions for the month ended January 31, 2020. Assume the following manufacturing costs: Direct materials: $2,200 Factory overhead: $520 Direct labor: $1,000 Beginning work in process: none (December 31, 2019) Ending work in process: $600 (January 31, 2020) Beginning finished goods inventory: none (December 31, 2019) Ending finished goods inventory: $370 (January 31, 2020) 3. Prepare the cost of goods sold section of a partial income statement for Business Solutions for the month ended January 31, 2020.
Answer:
Cost of goods manufactured= $3,120
COGS= $2,750
Explanation:
To calculate the cost of goods manufactured, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
Cost of goods manufactured:
beginning WIP= 0
direct materials= 2,200
Direct labor= 1,000
Factory overhead= 520
Ending work in process= 600
Cost of goods manufactured= $3,120
Now, we can determine the cost of goods manufactured:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 0 + 3,120 - 370
COGS= $2,750
a firm has total interest charges of $10,000 per year, sales of $1 million, a tax rate of 40 percent, and a net profit margin of 6 percent. What is the firm's times interest earned ratio
Answer:
10400
Explanation:
The firm's times interest earned ratio is 10.
What is interest?
Someone borrows money during a hard time, they are paying additional amount, which is an interest. In monetary terms, interest is a yearly percentage of the loan amount. Different categories, including simple interest, compound interest, and annual interest, are used to categorize the loan.
The given amount is:
Interest charge = $10,000Sales = $1,000,000Tax rate = 40%Net profit margin = 6%firm's net income:
Net income = sales × net profit margin.
Net income = $1,000,000 × 6%
Net income = $60, 000
earnings before interest and taxes (EBIT)
EBIT = [tex]\frac{Net income}{1 - tax rate}[/tex]
EBIT = [tex]\frac{60,000}{1 - 40}[/tex]% (1 - 40%)
EBIT = 1000, 000
The firm's times-interest-earned ratio (TIE):
TIE = [tex]\frac{EBIT}{Interest charge}[/tex]
TIE = [tex]\frac{100, 000}{10, 000}[/tex]
TIE = 10
As a result, the times interest earned ratio is 10.
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Prepare the Statement of Cash Flows for Smart Touch Learning for the month ended December 31, 2016 from the provided information. Within each section of the statement, use the drop-down menus to enter the accounts. Then enter the account balances and calculate ending balances. Enter decreases in cash with a minus sign or parentheses. Cash balance, December 1, 2016 is $18,600 Transactions Dec. 1 Common stock was issued to stockholders for $7,800 cash. 7 Purchased equipment for $2,000 on account. 14 Paid $19,900 cash for land. 17 Paid cash expenses: office rent, $1,400; employees' salaries, $1,200; utilities, $300. 23 Paid cash dividends of $2,300. 26 Earned service revenue for the month, $5,000, receiving cash. Cash flows from operating activitiesReceipts: Collection from customers Payments: For rentFor salariesFor utilitiesNet cash provided (used) by operating activitiesCash flows from investing activitiesAcquisition of LandNet cash provided (used) by investing activitiesCash flows from financing activitiesIssuance of cash dividendsPayment of cash dividendsNet cash provided (used) by financing activitiesNet increase (decrease) in cash Cash balance, December 1, 2016 Cash balance, December 31, 2016
Answer:
Ending cash balance $6,300
Explanation:
The preparation of the Cash Flows Statement is presented below:
Cash flow from Operating Activities
Add: Service revenue earned $5,000
Less: Office Rent -$1,400
Less: Employees salaries -$1,200
Less: Utilities -$300
Net cash flow provided by Operating Activities $2,100
Cash flow from Investing Activities
Less: Purchase of land $19,900
Net cash used by Investing Activities -$19,900
Cash flow from Financing Activities
Add: Issuance of common stock $7,800
Less: Dividend paid -$2,300
Net cash flow provided by Financing Activities $5,500
Net rise or decrease in cash is
Net cash flow provided by Operating Activities $2,100 (A)
Net cash used by Investing Activities -$19,900 (B)
Net cash flow provided by Financing Activities $5,500 (C)
Decrease in cash -$12,300 (A + B + C)
Add: Beginning cash balance $18,600
Ending cash balance $6,300
Domingo Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the first processing department consisted of 2,200 units. The costs and percentage completion of these units in beginning inventory were: Cost Percent Complete Materials costs $ 7,300 50% Conversion costs $ 3,500 20% A total of 8,600 units were started and 7,900 units were transferred to the second processing department during the month. The following costs were incurred in the first processing department during the month: Cost Materials costs $ 160,500 Conversion costs $ 122,200 The ending inventory was 85% complete with respect to materials and 75% complete with respect to conversion costs. The cost per equivalent unit for materials for the month in the first processing department is closest to:
Answer: $16.19
Explanation:
Equivalent Units = Units completed and transferred + Ending Inventory completed
Ending Inventory = Beginning inventory + Units started into production - Units transfered to second processing department
= 2,200 + 8,600 - 7,900
= 2,900 units
Equivalent Units = 7,900 + (2,900 * 85%)
= 10,365 units
Cost per equivalent unit = Total Material Cost / Equivalent Units
= ( Beginning material cost + Material cost incurred during the month) / Equivalent Units
= (7,300 + 160,500) / 10,365
= $16.19
Exercise 4-15A Calculate net cash flows (LO4-7) Below are several transactions for Meyers Corporation for 2021. Issue common stock for cash, $60,000. Purchase building and land with cash, $45,000. Provide services to customers on account, $8,000. Pay utilities on building, $1,500. Collect $6,000 on account from customers. Pay employee salaries, $10,000. Pay dividends to stockholders, $5,000. Required: For each transaction, determine the amount of cash flows. If cash is involved in the transaction, select whether Meyers should classify it as operating, investing, or financing in a statement of cash flows. (Enter N/A if the question is not applicable to the statement. List cash outflows as negative amounts.)
Answer:
Meyers Corporation
Determining the amount of cash flows:
a. $60,000
b. -$45,000
c. -$1,500
d. $6,000
e. -$10,000
f. -$5,000
Classification as operating, investing, or financing activities:
a. Financing
b. Investing
c. Operating
d. Operating
e. Operating
f. Financing
Explanation:
Meyers Corporation prepares the statement of cash flows which classifies its financial activities into three main sections: operating activities, investing activities, and financing activities sections in order to present the statement in clear and understandable formats. This statement is one of the main financial statements that report the corporation's financial position and performance at the end of an accounting period.
If a union operates in a right to work state, it will not be allowed to create a ________ workplace, but may have a ________ workplace.
Answer:
If a union operates in a right to work state, it will not be allowed to create a CLOSED SHOP workplace, but may have a OPEN SHOP workplace.
Explanation:
A closed shop workplace refers to a company where all the employees must belong to the union in order to be hired or to continue working for the company. An open shop workplace refers to a company where joining a union is optional, and no one can be fired (or not hired) for not belonging to a union.
The fill in the blanks should be filled with union shop and open shop.
The following information should be considered:
In the case when the union operated for right to work so it is not permitted to develop the union shop workplace.But at the same time, the open shop workplace should be created.Therefore we can conclude that The fill in the blanks should be filled with union shop and open shop.
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The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.Equivalent Units of Production Direct Materials ConversionUnits transferred out 39,500 EUP 39,500 EUPUnits of ending work in process 4,000 EUP 2,400 EUPEquivalent units of production 43,500 EUP 41,900 EUPCosts per EUP Direct Materials ConversionCosts of beginning work in process$ 37,650 $ 4,620 Costs incurred this period 480,000 271,920 Total costs $ 517,650 $ 276,540 Units in beginning work in process (all completed during July) 3,500Units started this period 40,000Units completed and transferred out 39,500Units in ending work in process 4,000Prepare its process cost summary using the FIFO method.
Answer:
1. Total costs to account for $ 794,190
2.Total units to account for 43,500
Total units accounted for 43,500
3.Total Equivalent units of production
Material 40,000
Conversion 41,200
4.Cost per EUP
Material $ 12
Conversion $ 6.6
5. COST ASSIGNMENT AND RECONCILIATION
Total costs accounted for $794,190
Explanation:
Preparation of its process cost summary using the FIFO method.
1. Costs Charged to Production:
Costs of beginning work in process:
Direct materials $ 37,650
Conversion $ 4,620
$ 42,270
Costs incurred this period:
Direct materials $ 480,000
Conversion $ 271,920
$ 751,920
Total costs to account for $ 794,190
(751,920+42,270)
2 . UNITS COST INFORMATION
Units to ACCOUNT FOR
Beginning work in process 3,500
Units started this period 40,000
Total units to account for 43,500
Units ACCOUNTED FOR
Completed & transferred out 39,500
Ending work in process 4,000
Total units accounted for 43,500
3. DIRECT MATERIAL
Equivalent units of production:
Units to complete beginning WIP:
Direct materials 3,500*0% 0
Units started and completed
Direct materials (39,500-3,500) 36,000 Units of ending work in process:
Direct materials 4,000
Total Equivalent units of production 40,000
(36,000+4,000)
CONVERSION
Equivalent units of production:
Units to complete beginning WIP:
Conversion 3,500*80% 2,800
Units started and completed
Conversion (39,500-3,500) 36,000
Units of ending work in process:
Conversion 2,400
Total Equivalent units of production 41,200
(2,800+36,000+2,400)
4. Direct Materials Conversion
COST PER EUP
Costs incurred this period
$ 480 000 $ 271,920
÷EUP (from prior page)
40,000 41,200
=Cost per EUP $ 12 $ 6.6
5. COST ASSIGNMENT AND RECONCILIATION
Costs transferred out:
Cost of beginning work in process $ 42,270
Cost to complete beginning work in process:
Direct materials (0 EUP x $12 per EUP) $0
Conversion (2,800 EUP x $6.60 per EUP) $ 18,480
Total $18,480
Costs of units started and completed this period:
Direct materials (36,000 EUP x $12 per EUP) $ 432,000
Conversion (36,000 EUP x $6.60 per EUP) $ 237,600 $ Total $669,600
Total cost of work finished this period $ 688,080
( 669,600+ 18,480)
Costs of ending work in process:
Direct materials (4,000 EUP x $12 per EUP) $ 48,000
Conversion (2,400 EUP x $6.60 per EUP) $ 15,840 $ Total $63,840
Total costs accounted for $794,190
(42,270$ 688,080+63,840)
Presented here are the components in Oriole Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income Year 1 $ 72,660 $Enter a dollar amount for year 1 (b) $ 31,100 $Enter a dollar amount for year 1 (d) $13,290 Year 2 $108,500 $72,200 $Enter a dollar amount for year 2 (c) $Enter a dollar amount for year 2 (e) $29,900 Year 3 $Enter a dollar amount for year 3 (a) $73,190 $112,180 $46,690 $Enter a total net income for year 3 (f)
Answer:
Oriole Company
Income Statement
Sales Cost of Gross Operating Net
Revenue Goods Sold Profit Expenses Income
Year 1 $ 72,660 $ 41,560 $ 31,100 $ 17,810 $13,290
Year 2 $108,500 $72,200 $ 36,300 $ 6,400 $29,900
Year 3 $ 185,300 $73,190 $112,180 $46,690 $65,490
Explanation:
Data:
Year 1 $ 72,660 $Enter a dollar amount for year 1
(b) $ 31,100 $Enter a dollar amount for year 1
(d) $13,290 Year 2 $108,500 $72,200 $Enter a dollar amount for year 2
(c) $Enter a dollar amount for year 2
(e) $29,900 Year 3 $Enter a dollar amount for year 3
(a) $73,190 $112,180 $46,690 $Enter a total net income for year 3 (f)
Arrangement:
Sales Cost of Gross Operating Net
Revenue Goods Sold Profit Expenses Income
Year 1 $ 72,660 $ $ 31,100 $ $13,290
Year 2 $108,500 $72,200 $ $ $29,900
Year 3 $ $73,190 $112,180 $46,690 $
11. The seller must indicate in the RLA if the premises are occupied by tenants If the tenants have a valid lease: Group of answer choices a. They may be vacated after the sale. b. Their security deposits are kept by the seller. c. They may remain in possession after the sale (correct box must be checked) d. The buyer need not be notified until after the sale.
Answer:
c. They may remain in possession after the sale
Explanation:
When a landlord wants to sell a property that is currently occupied by tenants, it must notify both the tenants and potential buyers about the rental agreement and his/her intention to sell the property.
Generally speaking, once rental agreements are signed, they are independent from who actually owns the property (house, apartment, office, etc.). Even if the buyer of the house (new owner) doesn't want the tenants to stay, the tenants have the right to do so until their contract expires.
The tenants have the right to even limit and set the conditions by which the seller can show the property, e.g. if they don't want to, the owner cannot cannot take pictures of the property's interior if the tenants consider that it violates their privacy.
If the buyer wants to rent the property, it is generally a good thing to have tenants with valid contracts.
What is porter's 5 forces?
Answer:
Porter's Five Forces is a framework for analyzing a company's competitive environment.
The number and power of a company's competitive rivals, potential new market entrants, suppliers, customers, and substitute products influence a company's profitability.
Explanation:
John's Repair Shop has a monthly target operating income of $30,000. Variable expenses are 40% of sales, and monthly fixed expenses are $7,500. Read the requirementsLOADING.... Requirement 1. Compute the monthly margin of safety in dollars if the shop achieves its income goal. Begin by identifying the formula to compute the margin of safety. Target sales in dollars - Breakeven sales in dollars = Margin of safety in dollars (Round intermediate calculations up to the nearest whole dollar and your final answer to the nearest whole dollar.) The margin of safety is .
Answer:
$50,000
Explanation:
To calculate the margin of safety we need to calculate the break-even sales revenue first after calculating break-even sales revenue we will deduct that from the total sales revenue.
Total Sales Revenue = $62,500
Break-Even Sales Revenue = $12,500
Margin of Safety in Dollars = $50,000
Working
Target Income $30000
Fixed expenses $7500
Contribution margin $37500
If Variable cost 40% of the sale Contribution margin will be 60% of the sale
Total target Sales Revenue [37500 / 60%] = $62500
Fixed expenses $7500
Contribution margin ratio 60%
Break-Even Sale [7500/60%] $12500
choosing a computer that costs_______ instead of one that costs ________ means that you'll have less money available for other purchases. $1800;$1900. $1700; $1900. $1800; $1700. $1700; $1800
Answer:
$1800; $1700.
Explanation:
The scenario presented is that a customer had a choice between two computers. The client spent much money by opting for the high priced computer, leaving little for other requirements. The options will a high figure comes first in the equation. If the customer could have picked a low-priced computer, somebody would have selected the options that start with a relatively low figure followed by a high
Answer: 1800 1700
Explanation:
Investment X offers to pay you $4,800 per year for 9 years, whereas Investment Y offers to pay you $7,100 per year for 5 years. If the discount rate is 6 percent, what is the present value of these cash flows
Answer and Explanation:
The computation is shown below:
Present value of investment X is
= Annuity × [1 - 1 ÷ (1 + r)^n] ÷ r
= $4,800 × [1 - 1 / (1 + 0.06)^9] ÷ 0.06
= $4,800 * 6.801692
= $32,648.12
And,
The Present value of investment Y is
= Annuity × [1 - 1 ÷ (1 + r)^n] ÷ r
= $7,100 × [1 - 1 ÷ (1 + 0.06)^5] ÷ 0.06
= $7,100 × 4.212364
= $29,907.78
Pooler Corporation is working on its direct labor budget for the next two months. Each unit of output requires 0.73 direct labor-hours. The direct labor rate is $11.60 per direct labor-hour. The production budget calls for producing 6,500 units in April and 6,300 units in May. The company guarantees its direct labor workers a 40-hour paid work week. With the number of workers currently employed, that means that the company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy. What would be the total combined direct labor cost for the two months
Answer:
April= $63,568
May= $63,568
Total cost= $127,136
Explanation:
Giving the following information:
Each unit of output requires 0.73 direct labor-hours.
The direct labor rate is $11.60 per direct labor-hour. T
The company is committed to paying its direct labor work force for at least 5,480 hours in total each month even if there is not enough work to keep them busy.
First, we need to calculate the direct labor hours required for each month.
Direct labor hours:
April= 0.73*6,500= 4,745 hours
May= 0.73*6,300= 4,599 hours
Now, we can calculate the direct labor cost for each month:
Direct labor cost:
April= 11.6*5,480= $63,568
May= 11.6*5,480= $63,568