Answer:
1. Utilization rate = Operating time/Scheduled time
Utilization rate = 5,696/6,400
Utilization rate = 0.89
2. Efficiency rate = (Total output / Ideal run rate) / Operating time
Efficiency rate = (18,100/2) / 5,696
Efficiency rate = 9,050 / 5,696
Efficiency rate = 1.5888343
Efficiency rate = 1.59
3. Quality rate = Good units produced / Total units produced
Quality rate = 12,670 / 18,100
Quality rate = 0.70
4. Overall Equipment Effectiveness = Utilization rate * Efficiency rate * Quality rate
Overall Equipment Effectiveness = 0.89 * 1.59 * 0.70
Overall Equipment Effectiveness = 0.99057
Overall Equipment Effectiveness = 0.991
The utilization rate is 0.89 and the efficiency rate is 1.59.
From the information given, the utilization rate will be:
= Operating time/Scheduled time
= 5,696/6,400
= 0.89
The efficiency rate will be:
= (Total output / Ideal run rate) / Operating time
= (18,100/2) / 5,696
= 9,050 / 5,696
= 1.59
The quality rate will be:
= Good units produced / Total unit
= 12,670 / 18,100
= 0.70
The overall equipment effectiveness will be:
= Utilization rate × Efficiency rate × Quality rate
= 0.89 × 1.59 × 0.70
= 0.991
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Dexter Company uses the direct write-off method. March 11 Dexter determines that it cannot collect $8,700 of its accounts receivable from Leer Co. 29 Leer Co. unexpectedly pays its account in full to Dexter Company. Dexter records its recovery of this bad debt. Prepare journal entries to record the above transactions.
Answer and Explanation:
The journal entries are shown below;
On Mar 11.
Bad debt exp $8,700
To Accounts receivable $8,700
(Being the bad debt expense is recorded)
On Mar 29
Accounts receivable $8,700
To Bad debt exp $8,700
(Being reversal is recorded)
Cash $8,700
To Accounts receivable $8,700
(being the recovery of the bad debt is recorded)
Year 1 $ 76,050 $enter a dollar amount (b) $ 32,700 $enter a dollar amount (d) $14,130 Year 2 $111,100 $74,400 $enter a dollar amount (c) $enter a dollar amount (e) $30,070 Year 3 $enter a dollar amount (a) $74,970 $111,190 $49,980 $enter a dollar amount (f)
Answer:
Year 1
b. Cost of goods sold
= Sales revenue - Gross profit
= 76,050 - 32,700
= $43,350
d. Operating expenses:
= Gross profit - Net income
= 32,700 - 14,130
= $18,570
Year 2
c. Gross Profit
= Sales revenue - Cost of goods sold
= 111,100 - 74,400
= $36,700
e. Operating expenses:
= Gross profit - Net income
= 36,700 - 30,070
= $6,630
Year 3
a. Sales revenue
= Cost of goods sold + Gross profit
= 74,970 + 111,190
= $186,160
f. Net income
= Gross profit - Operating expense
= 111,190 - 49,980
= $61,210
Note: Attached photo is for a similar question. It was used to understand the format.
Gravity, Inc., needs to raise $53 million to fund its expansion plans. The company will sell shares at a price of $29.00 in a general cash offer and the company's underwriters will charge a spread of 7.5 percent. How many shares need to be sold?a- 1,975,769b- 1,827,586c- 1,457,212d- 2,195,299e- 1,700,080
Answer:
a. 1,975,769
Explanation:
Underwriter's commission per share = 7.5% * $29
Underwriter's commission per share = $2.175
Amount received by company per share = Price per share in general cash offer - Underwriter's commission per share
Amount received by company per share = $29 - $2.175
Amount received by company per share = $26.825
Amount that company wants to raise = Number of shares sold * Amount received by company per share
53,000,000 = Number of shares sold * $26.825
Number of shares sold = 53,000,000 / $26.825
Number of shares sold = 1975768.87
No of shares to be sold = 1,975,768
A company reporting under US GAAP seeking to present a more favorable view of operating income in its quarterly earnings release could: Identify a gain on sale in a non-GAAP reconciliation. Identify a restructuring charge (expense) in a non-GAAP reconciliation. Identify a loss in the fair value of an equity investment. Elect to not recognize stock-based compensation on its GAAP income statement. All of the abo
Answer: All of the above
Explanation:
Based on the information given, we can infer that the company reporting under US GAAP that seeks to present a more favorable view of operating income in its quarterly earnings release will do all of the above options given.
The company can identify the gain on the sale in a non-GAAP reconciliation, or a restructuring charge in a non-GAAP reconciliation. There can also be identification of a loss in the fair value of an equity investment and can also elect to not recognize stock-based compensation on the GAAP income statement.
There are some instances whereby the operations of a business aren't portrayed properly by GAAP reporting. Then, companies can then display their own accounting figures, which will disclosed as non-GAAP.
The text defines management as “The art of getting things done through the efforts of other people.” Put yourself in the shoes of a manager and explain what this definition means in the context of a company operation. You can use the example of any company (large or small) and any good or service.
The correct answer to this open question is the following.
Although you did not attach the text, we can comment on the quote.
"The art of getting things done through the efforts of other people.”
This quote means that good managers motivate and positively influence employees to get the job done. Managers coordinate and monitor the work of the employees. Managers first plan, then establish the goals to be accomplished and then direct the work effort to be productive.
If I were a manager of a company, I definitely try to emulate what the quote says. For instance, the manager of a recreational and sports club. I would do everything to establish clear, specific, and attainable goals so my employees could understand them. Then I describe the role and responsibilities of each employee so they can do their job without any doubts. And of course, I would delegate so they can do their jobs happily. No unnescesary intromissions. The objective would be to offer the best service possible to our clients.
Chuck Wagon Grills, Inc., makes a single product—a handmade specialty barbecue grill that it sells for $300. Data for last year’s operations follow: Units in beginning inventory 0 Units produced 9,500 Units sold 8,400 Units in ending inventory 1,100 Variable costs per unit: Direct materials $ 60 Direct labor 40 Variable manufacturing overhead 10 Variable selling and administrative 30 Total variable cost per unit $ 140 Fixed costs: Fixed manufacturing overhead $ 180,000 Fixed selling and administrative 780,000 Total fixed costs $ 960,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses variable costing. Prepare a contribution format income statement for last year. 3. What is the company’s break-even point in terms of the number of barbecue grills sold?
Answer:
Results are below.
Explanation:
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Unitary production variable cost= 60 + 40 + 10
Unitary production variable cost= $110
Now, the income statement:
Sales= 300*8,400= 2,520,000
Total variable cost= 8,400*(110 + 30)= (1,176,000)
Total contribution margin= 1,344,000
Fixed manufacturing overhead= (180,000)
Fixed selling and administrative= (780,000)
Net operating income= $384,000
Finally, the break-even point in units:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 960,000 / (300 - 140)
Break-even point in units= 6,000
You are given the following information. Durable good consumption 462 Residential investment 526 Imports 987 Government expenditure 1259 Receipts of factor income from abroad 45 Personal income 7863 Nonresidential investment 66 Nondurable goods 893 Exports 1056 Services 7638 Depreciation 125 Change in inventories 26 Payments of factor income abroad 59 Personal taxes 2538 Do we have a trade deficit or trade surplus
Answer: Trade surplus of $69
Explanation:
A trade deficit is when the imports into a country are greater than exports leaving the country and a trade surplus is the reverse.
Exports for this country are $1,056
Imports to this country are $987
Exports are greater than imports so there is no trade deficit. Instead there is a Trade surplus of:
= Exports - Imports
= 1,056 - 987
= $69
The city of williamsburg decided to defease old 6% bonds carried in its electric enterprise fund with new 4.5% bonds. As a result of the defeasance, the city incurred an accounting loss. This loss should be recognized:_______
a. As an adjustment to retained earnings since it is applicable to prior periods.
b. In the year of the defeasance.
c. Over the remaining life of the old bonds or the new bonds whichever is shorter
d. It should not be recognized
Answer: It should not be recognized
Explanation:
Based on the information given, it should be noted that the accounting loss that was incurred as a result of the defeasance should not be recognized.
Since the city of Williamsburg decided to defease old 6% bonds carried in its electric enterprise fund with new 4.5% bonds, then it should be noted that it was only the interest rate that changed, but there wasn't any bonds that were sold. Therefore, the loss should not be recognized.
Sunland Company took a physical inventory on December 31 and determined that goods $198,200 were on hand. Not included in the physical count were $26,200 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $23,410 of goods sold to Alvarez Company for $28,450, f.o.b. destination. Both the Pelzer purchase and the Alvarez sale were in transit at year-end. What costing amount should Sunland report as its December 31 inventory?
December 31 inventory $___________
Answer:
the amount that should Sunland report as its December 31 inventory is $247,810
Explanation:
The computation of the ending inventory is shown below;
Inventory as per physical count $198,200
Add: Purchased goods in transit $26,200
Add: Sold goods in transit $23,410
Inventory to be reported as on December 31 $247,810
Hence, the amount that should Sunland report as its December 31 inventory is $247,810
Ajax Inc. was formed on April 25 and elected a calendar year for tax purposes. Ajax paid $11,800 to the attorney who drew up the articles of incorporation and $5,700 to the CPA who advised the corporation concerning the accounting and tax implications of its organization. Ajax began business operations on July 15. To what extent can Ajax deduct its $17,500 organizational costs on its first tax return
Answer: $5416.64
Explanation:
Based on the information given, $5000 will be deducted from its organizational cost of $17500, and we'll have $12500. Then, the capitalized cost over 6 months that's 180 days will be:
= Non deductible cost / 180 months
= $12500 / 180
= $69.44 per month
Since Ajax Inc began operation in July, the ammortization will be:
= $69.44 × 6 months
= $416.64
The amount that Ajax can deduct from its $17,500 organizational costs on its first tax return will be:
= $5000 + $416.64
= $5416.64
If a rise in incomes for both low-income and high-income workers is higher for the high- income workers, Group of answer choices then poverty will fall and inequality will rise. then poverty will rise and inequality will rise. then poverty will fall and inequality will fall. then poverty will rise and inequality will rise.
Answer:
Poverty will fall and inequality will rise.
Explanation:
Poverty will fall and inequality will rise is the correct answer because there is a rise in income for both category workers that is low income and higher income. Therefore, many low income workers may cross the poverty line due to an increase in pay so poverty will decrease. But, the income has increased for both the groups so higher income group worker will become richer so inequality will rise.
The following information was taken from the income statement and balance sheet of The Perryman Company for the years 2018 and 2019: 2019 2018 Sales revenues $590,000 $574,000 Net income 212,000 184,000 Total assets 2,142,000 1,998,000 Total stockholders’ equity 712,000 690,000 Compute the following ratios for 2019:
Answer:
a. Net profit margin for 2019 = 35.93%
b. Asset turnover for 2019 = 0.29 times
c. Return on assets = 10.24%
Explanation:
Note: This question is not complete. The complete question is thereore provided before answering the question as follows:
The following information was taken from the income statement and balance sheet of The Perryman Company for the years 2018 and 2019:
2019 2018
Sales revenues $590,000 $574,000
Net income 212,000 184,000
Total assets 2,142,000 1,998,000
Total stockholders’ equity 712,000 690,000
Compute the following ratios for 2019:
Net profit margin
Asset turnover
Return on assets
The answers are now explained as follows:
a. Net profit margin for 2019
This can be calculated as follows:
Net profit margin for 2019 = Net income in 2019 / Sales revenues in 2019 = $212,000 / $590,000 = 0.3593, or 35.93%
b. Asset turnover for 2019
This can be calculated as follows:
Asset turnover for 2019 = Sales revenues / Average total assets = Sales revenues in 2019 / ((Total assets in 2019 + Total assets in 2018) / 2) = $590,000 / (($2,142,000 + $1,998,000) / 2) = 0.29 times
c. Return on assets for 2019
This can be calculated as follows:
Return on assets = Net income / Average total assets = Net income in 2019 / ((Total assets in 2019 + Total assets in 2018) / 2) = $212,000 / (($2,142,000 + $1,998,000) / 2) = 0.1024, or 10.24%
The total cost of ownership (TCO) is categorized into three broad areas of costs: acquisition costs, ownership costs, and post-ownership costs. Which one of the costs is often overemphasized that frequently results in a failure to address other two costs
Answer:
Acquisition cost
Explanation:
The total cost of ownership can be defined as an estimate that helps people trying to get a product or service to know the direct and indirect costs of such. The acquisition cost is often times overemphasized, it is the total incurred for getting the product or the service. This cost is what causes a failure to address both the ownership cost and the post ownership cost.
Which of the following statements describes the typical effect of creating a large number of refined activity cost pools for a given costing application?1) A complex ABC system with numerous cost pools provides substantial costimprovement over a smaller system with only seven to ten cost pools.2) A system containing a large number of cost pools will not tend to exhibitsubstantial cost accuracy over a system containing seven to ten cost pools.3) With the aid of a computer, every public company should strive to develop as many cost pools as possible because there is virtually no disadvantage of so doing.4) Employees normally develop a deep appreciation for the complexity of a large, tedious ABC system.
Answer:
Hence the correct option is Option (2).
Explanation:
The correct option is (2) A system containing a large number of cost pools will not tend to exhibit substantial cost accuracy over a system containing seven to ten cost pools.
Fremont LLC is looking to purchase new water chlorination equipment. A salesman from Industrial Water Services (IWS) offered water chlorination equipment for $2.1 million. IWS also said that Fremont LLC would not have to pay for the equipment now and can pay after 2 years. While the price offered by a competing saleswoman from AG Enterprises is $1.7 million to be paid now. Fremont LLC's real MARR is 12% per year, and the inflation rate is 3.9% per year. Determine which offer is better.
a. AG offer
b. IWS offer
Answer:
Fremont LLC
Purchase of New Water Chlorination Equipment
The better offer is:
b. IWS offer
Explanation:
a) Data and Calculations:
Offer from Industrial Water Services (IWS) = $2.1 million
Payment term = 2 years
MARR = 12%
Inflation rate = 3.9%
Present value of IWS offer = $1,563,336.34 (see below)
Present value of AG Enterprises offer = $1.7 million
N (# of periods) 2
I/Y (Interest per year) 15.9
PMT (Periodic Payment) 0
FV (Future Value) 2100000
Results
PV = $1,563,336.34
Total Interest $536,663.66
Which of the following businesses poses the highest degree of difficulty in e-commerce? Portals and infomediaries Businesses such as Travelocity, and those that sell digital music, and software Businesses that rely on a physical infrastructure Brick and mortar companies
Answer:
Businesses that rely on a physical infrastructure.
Explanation:
e-commerce is a short for electronic commerce and it can be defined as a marketing strategy that deals with meeting the needs of consumers, by selling products or services to the consumers over the internet.
This ultimately implies that, e-commerce is strictly based on the buying and selling of goods or services electronically, over the internet or through a digital platform. Also, the payment for such goods or services are typically done over the internet such as online payment services.
In view of the above details, businesses that rely on a physical infrastructure poses the highest degree of difficulty in e-commerce because it's only dependent online retailing.
Which of the following statements is true? Question 2 options: Velocity equals the money supply. GDP is larger than the money supply if velocity is greater than 1. The money supply must be equal to GDP. GDP is always twice the money supply.
Answer:
GDP is larger than the money supply if velocity is greater than 1
Explanation:
According to the quantity theory of money :
price x quantity = money supply x velocity
GDP = money supply x velocity
If velocity = 2
money supply is 20
then GDP = 2 x 20 = 40
gdp is greater than money supply
Natasha and Link have been married for 2 years. They live in North Carolina and are about to make an offer on their first home. Their goal is to own the property so that if either Natasha or Link were to die, the surviving spouse would own the property outright. They also want to keep things private and avoid probate. How should they title their new home?
A. Link should own the house fee simple and name Natasha as his beneficiary.
B. Tenancy in common is the best way to title the property because it meets all their objectives.
C. They should title the home as JTWROS as a way to accomplish their goals.
D. Because they live in North Carolina, they should title the home as community property.
Answer:
Natasha and LInk
Based on the spouses goal to own the property so that if either Natasha or LInk were to die, the surviving spouse would own the property outright, keeping things private and avoid probate, they should title their new home as:
C. They should title the home as JTWROS as a way to accomplish their goals.
Explanation:
The arrangement that meets their goals is Joint tenancy with rights of survivorship (JTWROS) which affords survivorship rights to either Natasha or Link in the event of the death of either spouse. In other words, JTWROS allows either Natasha or Link to automatically own the property without publicity or probate. This arrangement will meet all their arrangements, unlike tenancy in common. Moreover, there is no community property provision in North Carolina where they live. Lastly, naming Natasha presupposes that Link would die first. This does not meet their expectations.
Pollution Busters Inc. is considering a purchase of 10 additional carbon sequesters for $100,000 apiece. The sequesters last for only 1 year before becoming saturated. Then the carbon is sold to the government. a. Suppose the government guarantees the price of carbon. At this price, the payoff after 1 year is $115,000 for sure. What is the opportunity cost of capital for this investment
Answer:
15percent o 100 annually
Explanation:
opportunity cost =(115-100/100)*100
Zoey Bella Company has a payroll of $10,000 for a five-day workweek. Its employees are paid each Friday for the five-day workweek. Journalize the adjusting entry required on December 31, assuming the year ends on a Thursday. If an amount box does not require an entry, leave it blank.
Date Description Post. Ref. Debit Credit
Answer:
Wages Expense debit $8,000
Wages Payable credit $8,000
Explanation:
At the end of December 31, which is a Thursday, workers would have worked 4 days out of a 5-day week, which implies we need to recognize wages for the 4 days because it has been incurred even not yet paid
Wages for 4-days=$10,000*4/5
Wages for 4-days=$8,000
We would debit wages account with $8,000 since an increase in an expense account is a debit entry while wages payable would be credited since it is an increase in liabilities
Minor Electric has received a special one-time order for 1,100 light fixtures (units) at $9 per unit. Minor currently produces and sells 8,500 units at $11.00 each. This level represents 85% of its capacity. Production costs for these units are $8.50 per unit, which includes $6.50 variable cost and $2.00 fixed cost. To produce the special order, a new machine needs to be purchased at a cost of $1,200 with a zero salvage value. Management expects no other changes in costs as a result of the additional production. Should the company accept the special order
Answer:
Minor Electric
The company should accept the special order. It makes a unit contribution of $1.41, which amounts to $1,551 in total.
Explanation:
a) Data and Calculations:
Special order received for light fixtures = 1,100 units
Price of special order = $9 per unit
Production and sales units = 8,500 = 85% capacity
Total capacity = 10,000 units (8,500/0.85)
Selling price at production and sales units = $11.00 each
Production costs per unit = $8.50
Variable cost per unit = $6.50
Fixed cost per unit = $2
Cost of new machine required for special order = $1,200
Special order costs:
Variable cost per unit = $7,150 ($6.50 * 1,100)
Cost of new machine = 1,200
Total relevant costs = $8,350
Unit cost = $7.59 ($8,350/1,100)
Selling price = $9.00
Contribution per unit = $1.41
Kelley Company reports $960,000 of net income and declares $120,000 of cash dividends on its preferred stock for the year. At year-end, the company had 400,000 weighted-average shares of common stock. 1. What amount of net income is available to common stockholders?
Answer:
$840,000
Explanation:
Amount that is attributable to common stockholders for dividends is always after deducting preferred stock.
The amount of net income is available to common stockholders is $840,000
Trong ngành công nghiệp thì doanh nghiệp đã dùng tiêu thức nào để phân khúc thị trường
Answer:
which language is this???
Wallace Container Company issued $100 par value preferred stock 12 years ago. The stock provided a 9 percent yield at the time of issue. The preferred stock is now selling for $72. What is the current yield or cost of the preferred stock
Answer:
12.5%
Explanation:
Calculation to determine the current yield or cost of the preferred stock
First step is to determine the Preference dividend.
Dividend yield= Preference dividend/Market price
9%= Preference dividend/100
Preference dividend=9%*100
Preference dividend=$9
Now let determine the cost of the preferred stock
Using this formula
Cost of preference stock= (Preference dividend/Current market price)×100%
Let plug in the formula
Cost of preference stock=($9/72)×100%
Cost of preference stock=12.5%
Therefore the current yield or cost of the preferred stock is 12.5%
The following information is available for Oriole Company
Accounts receivable $3,000 Cash $6,300
Accounts payable 4,400 Supplies 3,880
Interest payable 610 Unearned service revenue 860
Salaries and wages expense 4,700 Salaries and wages payable 890
Notes payable 32,000 Depreciation expense 760
Common stock 57,200 Equipment (net) 109,600
Inventory 2,940
Required:
Using the information above, prepare a balance sheet as of December 31, 2022.
Answer and Explanation:
The preparation of the balance sheet is presented below:
Assets Amount
Accounts receivable $3,000
Cash $6,300
Supplies $3,880
Equipment (net) $109,600
Inventory $2,940
Total assets $125,720
Liabilities and stockholder equity Amount
Accounts payable $4,400
Interest payable $610
Unearned service revenue $860
Salaries and wages payable $890
Notes payable $32,000
Common stock $57,200
Retained earning (bal figu) $29,760
Total liabilities & stockholder equity $125,720
The project manager often combines information from all of the lessons-learned reports into a project summary report.
a. True
b. False
Answer: True
Explanation:
The lesson learned reports is referred to as the reflective statement where the important information which were learned while working on the project is documented.
The information from all of the lessons-learned reports is combined by the project manager into a project summary report. Some of the items which are discussed in the lessons-learned reports are whether the project was successful or not etc.
State elements of business plan?
Answer:
1. Ý tưởng kinh doanh
2. Đặt ra mục tiêu kinh doanh và những thành quả cần đạt được
3. Nghiên cứu và phân tích thị trườn
4. Phân tích thế mạnh, điểm yếu, cơ hội và nguy c
5. Xác lập mô hình tổ chức kinh doanh
6. Lên kế hoạch marketing
7. Lập kế hoch hoạt động
8. Kế hoạch quản lý con người
9. Kế hoạch thực hiện
Explanatio
Johnson Company uses the allowance method to account for uncollectible accounts receivable. Bad debt expense is established as a percentage of credit sales. For 2018, net credit sales totaled $6,300,000, and the estimated bad debt percentage is 1.30%. The allowance for uncollectible accounts had a credit balance of $60,000 at the beginning of 2018 and $49,000, after adjusting entries, at the end of 2018. Required: 1. What is bad debt expense for 2018 as a percent of net credit sales
Answer:
See below
Explanation:
For 2018, the net credit sales is totalled $6,300,000
Then, the estimated bad debt percentage is 1.30% of $6,300,000
= 1.30% × $6,300,000
= $81,900
Therefore, the bad debt expense for 2018 as a percentage of net credit sales is $81,900
The Bug House purchased some new machinery last year at a total cost of $18,500. The depreciation to date on this machinery is $3,400. Should the firm opt to sell the machinery today, it could probably do so at a price of $14,150. What is the current book value of this machinery
Answer:
No, 15,100
Explanation:
The book value is 15,100 (18500-3400) which is more than the potential sales price of 14,150.
I wouldn’t sell the equipment since it is worth more (15,100) than potential sales price.
Classify each of the following statements as positive or normative.
Statement positive negative
Economic development should not take place at the expense of social justice.
The government can increase labor productivity by improving public education.
Society faces a short-run trade-off between inflation and unemployment.
The Federal Reserve should take action to lower the inflation rate.
The government must take action to reduce the unemployment rate.
Answer:
Positive Economics is the branch that deals with analysis of relationship among variable for establishment of cause and effects.
Normative Economics is the branch that deals with value judgement, what ought to be and not.
Statement Classification
1. Economic development should not Normative Economics
take place at the expense of social justice.
2. The government can increase labor Positive Economics
productivity by improving public education.
3. Society faces a short-run trade-off Positive Economics
between inflation and unemployment.
4. The Federal Reserve should take Normative Economics
action to lower the inflation rate.
5. The government must take action Normative Economics
to reduce the unemployment rate.