Answer:
a) throughput time is the sum of inspection + process + move + queue = 0.5 + 2.8 + 0.7 + 4.5 = 8.5 days
b) manufacturing cycle efficiency = process time / throughput time = 2.8 / 8.5 = 33%
c) percentage of the throughput time for non-value added activities = 1 - 33% = 67%
d) new throughput time = 4 days
MCE = 2.8 / 4 = 70%
Smith Distributors, Inc., supplies ice cream shops with various toppings for making sundaes. On November 17, 2021, a fire resulted in the loss of all of the toppings stored in one section of the warehouse. The company must provide its insurance company with an estimate of the amount of inventory lost. The following information is available from the company's accounting records:
Fruit Toppings Marshmallow Toppings Chocolate Toppings
Inventory, January 1, 2013 $22,000 $7,200 $3,200
Net purchases through Nov. 17 160,000 38,000 12,200
Net sales through Nov. 17 210,000 57,000 20,200
Historical gross profit ratio 20% 30% 30%
Required:
Calculate the estimated cost of each of the toppings lost in the fire.
Answer:
Estimated cost of Fruit Toppings lost in the fire = $14,000
Estimated cost of Marshmallow Toppings lost in the fire = $5,300
Estimated cost of Chocolate Toppings lost in the fire = $1,260
Explanation:
Fruit Marshmallow Chocolate
Toppings Toppings Toppings
Inventory, January 1, 2013 [a] 22,000 7,200 3,200
Net purchases through Nov. 17 [b] 160,000 38,000 12,200
Net sales through Nov. 17 [c] 210,000 57,000 20,200
Historical gross profit ratio [d] 20 30 30
Gross Profit [c*d%] [e] 42000 17,100 6,060
Cost of Good Sold [c-e] [f] 168,000 39,900 14,140
Inventory, Nov 17, 2013 [a+b-f] [g] 14,000 5,300 1,260
Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are made during the year.
Accounts Receivable. At year-end, the L. Cole Company has completed services of $20,500 for a client, but the client has not yet been billed for those services.
Interest Receivable. At year-end, the company has earned, but not yet recorded, $450 of interest earned from its investments in government bonds.
Accounts Receivable. A painting company bills customers when jobs are complete. The work for one job is now complete. The customer has not yet been billed for the $1,420 of work.
Answer:
1. Dr Account receivable $20,500
Cr Service revenue $20,500
2. Dr Interest receivable $450
Cr Interest revenue $450
3. Dr Account receivable $1,420
Cr Service revenue $1,420
Explanation:
Preparation of the adjusting journal entries for each of the following for year ended December 31.
Based on the information given the adjusting journal entries for each of the following for year ended December 31 will be :
1. Dr Account receivable $20,500
Cr Service revenue $20,500
(Being to record Accounts Receivable)
2. Dr Interest receivable $450
Cr Interest revenue $450
(Being to record Interest receivable)
3. Dr Account receivable $1,420
Cr Service revenue $1,420
(Being to record Accounts Receivable)
Check for $10 incorrectly charged by bank as $100.
Is this an addition or reduction on the bank or company side of a bank reconciliation
Answer:
On the bank reconciliation sheet this would be a reduction because on the customers side it was a debit, which turns into a credit once given back and the bank must perform a reduction to account for the error on the statement sheet
Answer:
Addition
Explanation:
They took too much money out 90$
Thomlin Company forecasts that total overhead for the current year will be $10,282,000 with 194,000 total machine hours. Year to date, the actual overhead is $5,689,800, and the actual machine hours are 98,100 hours. If Thomlin Company uses a predetermined overhead rate based on machine hours for applying overhead, as of this point in time (year to date), the overhead is
Answer:
$490,500 underapplied
Explanation:
The computation of the overhead is shown below:
But before that the predetermined overhead rate and the applied overhead is
Predetermined overhead rate is
= Estimated overhead ÷ estimated activity
= $10,282,000 ÷ 194,000
= $53 per MH
Now
Applied overhead = actual activity × overhead rate
= 98,100 hours ×$53 per MH
= $5,199,300
Now the underapplied overhead is
= $5,689,800 - $5,199,300
= $490,500 underapplied
In the current year, Mitchell Manufacturing expected Job No. 13 to cost $600,000 of overhead, $650,000 of materials, and $400,000 of labor. Mitchell applied overhead based on direct labor cost. Actual production required an overhead cost of $420,000, $750,000 of materials used, and $300,000 of labor. All of the goods were completed. What amount was transferred from Work-In Process to Finished Goods?A. $1,500,000. B. $1,470,000. C. $1,650,000. D. $1,670,000.
Answer:
A. $1,500,000
Explanation:
The overhead is applied on the basis of the direct labor cost
Overhead allocation rate = $600,000/$400,000 = 1.5 times
Materials used
$750,000
Labor cost
$300,000
Prime cost
$1,050,000
Overhead ( direct labor cost × 1.5) = $300,000 × 1.5 = $450,000
The amount of transferred finished goods from WIP is $1500,000 I.e prime (cost $1,050,000 + overhead $450,000)
Determine the difference in the present worth values of the following two commodity contracts at an interest rate of 8% per year. a. Contract 1 has a cost of $10,000 in year 1; costs will escalate at a rate of 4% per year for 10 years. b. Contract 2 has the same cost in year 1, but costs will escalate at 6% per years for 11 years
Answer:
$14,336
Explanation:
Calculation to Determine the difference in the present worth values
First step is to calculate Contract 1 present worth values
Contract 1 present worth values = 10,000{1 – [(1 + 0.04)/(1 + 0.08)]^10}/(0.08 – 0.04)
Contract 1 present worth values = 10,000{1 – [(1.04)/(1 .08)]^10}/( 0.04)
Contract 1 present worth values = $78,590
Second step is to Contract 2 present worth values
Contract 2 present worth values
= 10,000{1 – [(1 +0.06)/(1 +0.08)]^11}/(0.08 – 0.06)=
Contract 2 present worth values
= 10,000{1 – [(1 .06)/(1 .08)]^11}/( 0.02)
Contract 2 present worth values = $92,926
Now let calculate the difference in the present worth values
Present worth values Difference =$92,926-$78,590
Present worth values Difference =$14,336
Therefore the difference in the present worth values will be $14,336
Bi-Lo Traders is considering a project that will produce sales of $44,800 and have costs of $25,700. Taxes will be $4,500 and the depreciation expense will be $2,650. An initial cash outlay of $2,100 is required for net working capital. What is the project's operating cash flow?
Answer:
$10,700
Explanation:
Operating cash flow is computed as;
= Net income + non cash expenses - outlay in working capital
First, we'll determine the net income
Net income = Sales $44,800 - cost $27,500 depreciation expense $2,650 - Taxes $4,500
Net income = $10,150
Operating cash flow = $10,150 + $2,650 - $2,100 = $10,700
Kahuna Industries has two manufacturing departments--Fabrication and Finishing. The company used the following data at the beginning of the year to calculate pre-determined overhead rates:
Fabrication Finishing Total
Estimated total machine-hours (MHs) 4,000 1,000 5,000
Estimated total fixed manufacturing overhead cost $30,000 $3,400 $33,400
Estimated variable manufacturing overhead cost
per machine-hour $2.00 $4.00
During the most recent month, the company started and completed two jobs--Job 14-X and Job 15-Z. There were no beginning inventories. Data concerning those two jobs follow:
Job 14-X Job 15-Z
Direct materials $14,700 $8,400
Direct labor cost $21,600 $8,400
Fabrication machine-hours 2,700 1,300
Finishing machine-hours 400 600
Assume that the company uses a plantwide pre-determined manufacturing overhead rate based on machine-hours. The total manufacturing cost assigned to Job 15-Z is closest to:______.
Answer:
Total manufacturing cost= $34,052
Explanation:
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
Total estimated overhead= 33,400 + (2*4,000 + 4*1,000)
Total estimated overhead= $45,400
Predetermined manufacturing overhead rate= 45,400 / 5,000
Predetermined manufacturing overhead rate= $9.08 per machine hour
Now, we can determine the total manufacturing cost of Job 15-Z:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= (1,300 + 600)*9.08= $17,252
Total manufacturing cost= 8,400 + 8,400 + 17,252
Total manufacturing cost= $34,052
19) Which of the following best describes horizontal analysis? A) calculating key ratios to evaluate performance B) comparing a company's financial statements with other companies C) comparing financial statement amounts from year to year for the same company D) expressing each financial statement amount as a percentage of a budgeted amount
Answer:
C) comparing financial statement amounts from year to year for the same company
Explanation:
Horizontal analysis refers to an analysis of the items in the financial statements that should be compared for a period of time. It basically used to see the situation of the trends how it goes whether it is increase or decrease. For using this, the two or more periods financial statements are required
Therefore according to the given options, the option c is correct
Identify the following as financing activities (F) or investing activities (I):
a. Purchase of equipment
b. Purchase of treasury stock
c. Reduction of long-term debt
d. Sale of building
e. Resale of treasury stock
f. Increase in short-term debt
g. Issuance of common stock
h. Purchase of land
i. Purchase of common stock of another firm
j. Payment of cash dividends
k. Gain on sale of land
l. Repayment of debt principal
Answer:
Explanation:
Financial activities would basically be anything that involves money but is does not involve an asset with value. This would instead be considered Investing activities if you are buying or selling any asset financial asset. Therefore the following would be considered...
a. Purchase of equipment (F)
b. Purchase of treasury stock (I)
c. Reduction of long-term debt (F)
d. Sale of building (I)
e. Resale of treasury stock (I)
f. Increase in short-term debt (F)
g. Issuance of common stock (I)
h. Purchase of land (I)
i. Purchase of common stock of another firm (I)
j. Payment of cash dividends (I)
k. Gain on sale of land (I)
l. Repayment of debt principal (F)
Brody Corp uses a process costing system in which direct materials are added at the beginning of the process and conversion costs are incurred uniformly throughout the process. Beginning inventory for January consisted of 1,300 units that were 40% completed. 13,000 units were started into the process during January. On January 31, the inventory consisted of 650 units that were 70% completed. What would be the equivalent units for conversion cost using the weighted average method?a. 13,000b. 13,585c. 14,105d. 14,300
Answer:
14,105
Explanation:
Calculation for What would be the equivalent units for conversion cost using the weighted average method
Equivalent units for conversion cost=[(1,300 + 13,000 - 650 )×100%]+ (650 × 70%)
Equivalent units for conversion cost=(13,650 × 100%) + (650 × 70%)
Equivalent units for conversion cost=13,650+455
Equivalent units for conversion cost= 14,105
Therefore What would be the equivalent units for conversion cost using the weighted average method will be 14,105
A building with an appraisal value of $128,156 is made available at an offer price of $153,050. The purchaser acquires the property for $32,829 in cash, a 90-day note payable for $26,957, and a mortgage amounting to $57,415. The cost basis recorded in the buyer's accounting records to recognize this purchase is
Answer:
$117,201
Explanation:
Calculation for what The cost basis recorded in the buyer's accounting records to recognize this purchase is
Using this formula
Cost basis=Cash+Note payable+Mortgage
Let plug in the formula
Cost basis=$32,829+$26,957+$57,415
Cost basis=$117,201
Therefore The cost basis recorded in the buyer's accounting records to recognize this purchase is $117,201
Trade can benefit a family:__________
a. by allowing each person to specialize in the activities he or she does best.
b. by allowing the family to buy a greater variety of goods and services at a lower cost.
c. All of the above are correct.
d. Both a and b are correct.
e. only if the family is not in economic competition with other families.
Answer:
Option d: Both a and b are correct
Explanation:
Trade is simply defined as the act of giving or exchanging one or more goods and services for another. It can be between people,countries e.t.c. it makes people well paid off when they have different taste or preferences and said to have a rapid increase in terms of productivity through different specialization and the division of knowledge. It makes rich people richer and it leads to an increase in terms of productivity through comparative advantage.
By promoting transparency, the government can improve
a.profit margins
b.economies of scale
c.market efficiency
d.zoning
Answer:
Option c. is correct
Explanation:
By promoting transparency, the government can improve market efficiency.
The government should be transparent as transparency will also strengthen the democracy and effectiveness in Government. Openness provides information to the citizens about what their Government is doing for them.
Option c. is correct
Assume that the British government eliminates all controls on imports by British companies. Other things being equal, the U.S. demand for pounds would ____, the supply of pounds for sale would ____, and the equilibrium value of the pound would ____. a. remain unchanged; increase; decrease b. remain unchanged; increase; increase c. decrease; increase; decrease d. increase; increase; increase
Answer:
increase
increase
decrease
Rossdale, Inc., had additions to retained earnings for the year just ended of $641,000. The firm paid out $50,000 in cash dividends, and it has ending total equity of $7.36 million.
1. If the company currently has 730,000 shares of common stock outstanding, what are:
a. Earnings per share?
b. Dividends per share?
c. Book value per share? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
2. lf he stock currently sells or $30.60 per share, what is:
a. the market-to-book ratio?
b. the price earnings ratio?
3. If total sales were $10.66 million, what is the price-sales ratio?
Answer:
1. a. Earnings per share:
= Total earnings / No. of shares
= (Addition to retained earnings + Dividends) / No. of shares
= (641,000 + 50,000) / 730,000
= $0.95
b. Dividends per share:
= Dividends / No. of shares
= 50,000 / 730,000
= $0.07
c. Book Value per share:
= Ending total equity / No. of shares
= 7,360,000 / 730,000
= $10.08
2. a. Market to book ratio
= Market price / Book value
= 30.60 / 10.08
= 3.06 times
b. Price - earnings ratio:
= Market price / Earnings per share
= 30.60 / 0.95
= 32.21 times
3. Price - sales ratio
= Market value of equity / Sales
= (30.60 * 730,000 shares) / 10,660,000
= 2.1 times
Poorer countries have historically been responsible for the bulk of world carbon emissions because of poor technology and environmental regulations. Air and water quality in developed countries is generally much better today than it was several decades ago. Tackling climate change issues is likely to only modestly dent long-term economic growth. Carbon emissions are negatively correlated with economic growth.
a. True
b. False
Answer:
Carbon emissions are negatively correlated with economic growth.
b. False
Explanation:
Various environmental studies have established that economic growth has caused more carbon emissions into the atmosphere. Greater carbon emission is done by the less developed countries than by the developed nations. Coupled with poor technology and lax environmental regulations, the poorer countries also suffer more from the carbon emissions. However, climate change has posed challenges to the world generally in recent times. Therefore, there is the need to tackle the problems head-on because tackling climate issues will not deter long-term economic growth.
A company that sells running shoes online wants to compare two new marketing strategies. They will test the strategies on 10 weekdays. In the morning of each day, a web page describing the comfort of the running shoes will be displayed. In the afternoon of each day, a web page describing the discounted price for the shoes will be displayed. Sales of the featured running shoes in the morning will be compared with sales in the afternoon at the end of the experiment. What are the experimental units, the treatments, and the outcomes for this experiment
Answer:
The explanation of the three factors and they conclusion are below.
Explanation:
To begin with, when we talk about experimental units we refer to the entities that the researcher looks forward to make inferences about, so that means that in this case the experimental units of the situation will be all the people who got to visit the website in both schedules, the morning shift and the afternoon shift.
Secondly, the treatments is understood to be the process or the way, it could be said, that the researchers administrate to the experimental units. So that implicates that in this case the treatments will be the morning with its comfort described and the afternoon on the other side with its discounted prices shown.
Finally, the most probable outcomes for this experiments will be that the statics will show how the people interact with the variables and which of them generated more interest, that being either price or comfort. It will also show the behavior of the people when it comes to understand if the tend more to visit the web site at morning or afternoon.
a. On April 1, the company hired an attorney for a flat monthly fee of $2,500. Payment for April legal services was made by the company on May 12.
b. As of April 30, $2,175 of interest expense has accrued on a note payable. The full interest payment of $6,525 on the note is due on May 20.
c. Total weekly salaries expense for all employees is $14,000. This amount is paid at the end of the day on Friday of each five-day workweek. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3.
The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record the payment of the accrued expenses.
Answer:
A. Apr 30
Dr Legal fees expense 2,500
Cr Legal fees payable 2,500
May 12
Dr Legal fees payable 2,500
Cr Cash 2,500
B. Apr 30
Dr Interest expense 2,175
Cr Interest payable 2,175
May 20
Dr Interest expense 4,350
Dr Interest payable 2,175
Cr Cash 6,525
C. Apr 30
Dr Salaries expense 5,600
Cr Salaries payable 5,600
May 03
Dr Salaries expense 8,400
Dr Salaries payable 5,600
Cr Cash 14,000
Explanation
Preparation of the adjusting entry for both April 30 and the subsequent entry during May to record the payment of the accrued expenses.
A. Apr 30
Dr Legal fees expense 2,500
Cr Legal fees payable 2,500
May 12
Dr Legal fees payable 2,500
Cr Cash 2,500
B. Apr 30
Dr Interest expense 2,175
Cr Interest payable 2,175
May 20
Dr Interest expense 4,350
(6,525-2,175)
Dr Interest payable 2,175
Cr Cash 6,525
C. Apr 30
Dr Salaries expense 5,600
(14,000*2/5)
Cr Salaries payable 5,600
May 03
Dr Salaries expense 8,400
(14,000*3/5)
Dr Salaries payable 5,600
(14,000*2/5)
Cr Cash 14,000
Identify whether each of the following examples belongs in M1 or M2. If an example belongs in both, be sure to check both boxes.
a. Crystal has $8,000 in a two-year certificate of deposit (CD).
b. Tim has a roll of quarters that he just withdrew from the bank to do laundry.
c. Brian has $25,000 in a money market account.
Answer:
M2
M1 M2
M2
Explanation:
1. In a manufacturing firm, product costs include: ______
a. all GAAP costs
b. all variable costs
c. all manufacturing costs
d. all fixed costs all non-manufacturing costs
2. Period costs include:
a. all fixed costs
b. all non-manufacturing costs
c. all variable costs
d. all non-GAAP costs
e. all manufacturing costs
Answer and Explanation:
1. The product cost involved all the manufacturing cost i.e. direct cost that includes direct material, direct labor, manufacturing overhead etc
2. The period cost involved non-manufacturing cost i.e. indirect cost like rent expense, fixed selling & admin expenses, depreciation expense, etc
Therefore for 1 the option c is correct and for 2 the option b is correct
1. In a manufacturing firm, product costs include all manufacturing costs. Thus, option C is the correct option.
2. Period costs include all non-manufacturing costs. Thus, option B is the correct option.
Product Costs are the expenses incurred during a product's creation. Materials, labor, production supplies, and factory overhead are all included in these prices. A product cost includes the price of the labor needed to provide a service to a consumer.
Period costs are any expenses that are not accounted for in product costs. The manufacturing method is not directly related to period expenses. Period costs include overhead and sales, general, and administrative (SG&A) expenses. Period costs are expenses that are not connected to or related to the creation of inventories in management and cost accounting.
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A rational decisionmaker
A. ignores marginal changes and focuses instead on “the big picture.”
B. takes an action only if the combined benefits of that action and previous actions exceed the combined costs of that action and previous actions
C. ignores the likely effects of government policies when he or she makes choices
D. takes an action only if the marginal benefit of that action exceeds the marginal cost of that action
Osborn Manufacturing uses a predetermined overhead rate of $19.10 per direct labor-hour. This predetermined rate was based on a cost formula that estimates $246,390 of total manufacturing overhead for an estimated activity level of 12,900 direct labor-hours. The company actually incurred $245,000 of manufacturing overhead and 12,400 direct labor-hours during the period.
Required:
1. Determine the amount of underapplied or overapplied manufacturing overhead for the period.
2. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Would the journal entry to dispose of the underapplied or overapplied overhead increase or decrease the company’s gross margin? By how much?
Answer and Explanation:
The computation is shown below:
a. The underapplied or overapplied overhead is
But before that the applied overhead is
Applied overhead = 12400 × 19.1
= $236,840
Now Underapplied overhead is
= $245,000 - $236,840
= $8,160
2 The gross margin of the company would be decreased by $8,160
Imagine you have $25.00. Your best friend’s birthday is coming up, and you’d like to get them a gift. You’ve also been wanting to buy a new backpack since your current one has some holes in it. What do you decide to d with $25.00 and Why
Answer:
buy a new backpack because you need it more
Explanation:
If I had $25.00 and my best friend's birthday was coming up while I also needed a new backpack, I would first prioritize my friend's gift since it's time-sensitive. I would allocate around $15.00 for the gift, leaving me with $10.00 for the backpack.
What is a military-style backpack?Military backpacks are designed to carry all necessary materials for protracted periods of time. Assault packs are typically designed for shorter-duration or even day missions. Assault packs only hold about 20L, compared to a military backpack's capacity of 96L. Throughout the day, they are significantly more compact, lightweight, and portable.
For my friend's gift, I would consider their interests and what they might appreciate. I could buy a small but thoughtful gift such as a personalized card or a small decorative item. Alternatively, I could get something related to their hobbies, such as a book, a piece of jewelry, or a small gadget that they might enjoy.
With the remaining $10.00, I would look for a simple but durable backpack that fits my needs. I would try to find a sale or a clearance item to stretch my budget further.
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The following partially completed T-accounts summarize transactions for Farwest Corporation during the year: Raw Materials Beg Bal 4,700 10,000 6,900 Work in Process Beg Bal 4,600 26,300 7,400 8,000 6,800 Finished Goods Beg Bal 1,900 22,900 26,300 Manufacturing Overhead 2,600 6,800 3,000 1,900 Wages & Salaries Payable 12,300 Beg Bal 1,400 11,000 Cost of Goods Sold 22,900 The Cost of Goods Manufactured was: Group of answer choices $22,900 $26,300 $6,400 $49,200
What is a benefit of joining a professional organization for your chosen career path?
Answer: experience
Explanation: This will give the opportunity to show off your skills in the organization you have chosen plus it would be hands on and they can show you things to enhance your skills you learned.
State Farm insurance company prints an ad in a national newspaper’s apartment rental section with a picture of a girl sitting on the edge of a tub full of water, blowdrying her hair while a plugged in toaster sits on the edge. The caption at the top of the ad reads, “Renting without State Farm is like...” Which need does this marketing ad emphasize for potential customers?
a. safety and security
b. physiological needs
c. esteem
Answer:
Safety and Security
Explanation:
Blow drying your hair over the tub isn't safe
The marketing ad emphasizes potential customers' need of safety and security.
An insurance company is a company that is responsible for selling insurance that protects our objects and even our lives in case they are affected.
For example, if I buy insurance for my car and someone steals it, the insurance company gives me a percentage of the value of the car so that my loss is not total.
In the case presenting the company, it presents an image of "risk" so that buyers understand the idea of danger and the need for safety and protection to have insurance that covers those possible accidents that occur.
So the correct answer is A. safety and security
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You want to buy a new sports coupe for $91,500, and the finance office at the dealership has quoted you an APR of 7.3 percent for a 72 month loan to buy the car. a. What will your monthly payments be
Answer: $1573
Explanation:
The information given above can be processed further as follows:
Nper = 72
Rate = 7.3%/12 = 0.073/12 = 0.0060833 = 0.0061
PV = 91500
The formula to use will be:
= PV ÷ 1 - (1 - r)^-nper / r
= 91500 ÷ 1 - (1 0.0061)^-72 / 0.0061
= $1573
Therefore, monthly payments will be $1573
Three primary ledgers used in double-entry bookkeeping?
Answer:
General ledger
The chart of accounts
Journals
Explanation:
The general ledger contains all the transactions carried out and registered by the company.
The chart of accounts is lists and codes all the accounts that are used by the by the company, e.g. cash might be account 101.
The journal entries are the individual entries recorded in the general ledger or any other specific ledger.
In a small town, there is a shoe factory which employs workers at $15 an hour, for forty-hour weeks. There is a writer, who expects to finish a novel in nine months. If he does not write the novel, he can teach high school English for $12 an hour. What is his opportunity cost of writing the novel
Answer:
the amount he would have earned if he taught, $12
Explanation:
Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
If the writer decides to write, he loses the opportunity to teach and earn $12. This is his opportunity cost.
Also, if he decided to teach instead, his opportunity cost the time he could have spent writing the novel