Answer:
Debit : Work In Process $28,200
Credit : Direct Materials $25,000
Credit : Indirect Materials $3,200
Explanation:
Materials requisitioned for use are include in Product Cost calculation. The Work In Process Account is the major account used to calculate the Product Cost during the Manufacturing Process.
Thus, Debit the full amount of materials requisitioned for use to the Work In Process Account and Credit the respective categories of Accounts supplying the Work In Process to show their decrease. Note that Indirect Materials take the $3,200 remaining after $25,000 have been used by direct materials against the total of $28,200 requisitioned.
Discuss the difference between absolute advantage and comparative advantage. Which is more important in determining trade patterns
Answer:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries while A country has absolute advantage in the production of a good or service if it produces more quantity of a good when compared to other countries
Comparative advantage is more important in determining trade patterns
Explanation:
For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.
for country A,
opportunity cost of producing beans = 5/10 = 0.5
opportunity cost of producing rice = 10/5 = 2
for country B,
opportunity cost of producing rice = 5/10 = 0.5
opportunity cost of producing beans = 10/5 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Country A has absolute advantage in the production of beans while country B has absolute advantage in the production of rice
gIf Tom Neal, the store team leader in Glastonbury, England, empowers his team to accomplish more, he is performing a ________ role.
Answer: task
Explanation:
If Tom Neal, who is the store team leader in Glastonbury, England, empowers his team to accomplish more, he is simply performing a task role.
Task roles are the actions of the individuals which are vital for the completion of a particular project or task.
goods that can be bought in any quantity desired are called ?
Answer:
I think the answer is demand
Explanation:
Demand can be the quantity of any good at the desired amount.
Charter Corporation manufactures a single product that has a cost of $350. The company uses a 70% markup on cost to arrive at a selling price of $595, which results in a price that virtually always exceeds that of the market leaders. If Charter changes to the approach known as target costing, the company will first: undertake a thorough study of competitors' prices. change the markup so that it is based on sales rather than based on cost. attempt to re-engineer its product. trim its $350 cost. reduce its 70% markup rate.
Answer:
trim its $350 cost.
Explanation:
Target costing starts in the final selling of a good and then the company deducts its desired markup. The result is the target cost of the product. The company then tries to cut production costs in order to reach that target cost.
E.g. the market price is $500
target cost = $500 / 1.7 = $294.12
the company will try to manufacture its product spending just $294.12 per unit
Why should you get a growing perpetuity?
A company that is using the internal rate of return (IRR) to evaluate projects should accept a project if the IRR: is less than the firm's cost of investment capital. is greater than the project's net present value. is greater than the hurdle rate. is greater than zero. equates the present value of the project's cash inflows with the present value of the project's cash outflows.
Answer:
is greater than the hurdle rate.
Explanation:
other options are wrong because:
equates the present value of the project's cash inflows with the present value of the project's cash outflows ⇒ this is the definition of IRR
is greater than zero ⇒ if the project yields any profit, its IRR should be higher than 0
is less than the firm's cost of investment capital ⇒ the firm's NPV would be negative
is greater than the project's net present value ⇒ this simply doesn't make sense
In November 2009, Perrigo Co. (PRGO) had a share price of $39.20. They had 191.33 million shares outstanding, a market-to-book ratio of 3.76. In addition, PRGO had $845.01 million in outstanding debt, $163.82 million in net income, and cash of $257.09 million. Perrigo's earnings per share (EPS) is closest to: Group of answer choices $0.86 $1.79 $2.81 $3.76
Answer:
$0.86
Explanation:
Earnings per Share = Earnings attributable to holders of Common Stock ÷ Weighted Number of Common Stocks Outstanding.
where,
Earnings attributable to holders of Common Stock = $163.82 million
and,
Weighted Number of Common Stocks Outstanding = 191.33 million
Therefore
Earnings Per Share = $163.82 million ÷ 191.33 million
= $0.86
If a company uses $1,500 of its cash to purchase supplies, the effect on the accounting equation would be:
Answer:
Assets increase $1,500
liabilities increase $1,500.
Explanation:
Based on the information given in a situation where the company make uses of the amount of $1,500 of its cash to purchase supplies which means that the the effect on the accounting equation would be: Assets increase with amount of $1,500 while liabilities on the other hand will increase with amount of $1,500 reason been that Cash is an asset which will increase the assets because it was used to purchase supplies leading to increase in liabilities.
If the firm spends the additional $293,000 for advertising in year 2, what is the sales level in dollars required to equal the year 1 after-tax operating profit
Question Completion:
Eagle Company makes the MusicFinder, a sophisticated satellite radio. Eagle has experienced a steady growth in sales for the past five years. However, Ms. Luray, Eagle's CEO, believes that to maintain the company's present growth will require an aggressive advertising campaign next year. To prepare for the campaign, the company's accountant, Mr. Bednarik, has prepared and presented to Ms. Luray the following data for the current year, Year 1:
Variable costs:
Direct labor (per unit) $92
Direct materials (per unit) 39
Variable overhead (per unit) 15
Total variable costs (per unit) $146
Fixed costs (annual):
Manufacturing $386,000
Selling 292,000
Administrative 796,000
Total fixed costs (annual) $1,474,000
Selling price (per unit) $419
Expected sales revenues, Year 1 (23,000 units) $9,637,000
Eagle has an income tax rate of 30 percent.
Answer:
Eagle Company
The sales level in dollars required to equal the year 1 after-tax operating profit is:
$10,086,587.
Explanation:
a) Data and Calculations:
Selling price per unit $419
Total Variable cost per unit $146
Contribution per unit $273
Year 1 After-tax operating profit:
Sales revenue (23,000 * $419) = $9,637,000
Variable costs (23,000 * $146) = 3,358,000
Contribution (23,000 * $273) = $6,279,000
Total fixed costs (annual) = $1,474,000
Before Tax profit = $4,805,000
Income tax (30%) = 1,441,500
After-Tax profit = $3,363,500
To produce the same after-tax profit, which is equal to $3,363,500 with the additional $293,000 for advertising in year 2, the before tax profit will also be $4,805,000. And the new fixed costs will increase to $1,767,000 ($1,474,000 + $293,000).
Therefore, Sales unit to produce target profit of $4,805,000, equals to:
= (Fixed costs + Target profit)/Contribution margin per unit
= ($1,767,000 + $4,805,000)/$273
= 24,073 units
Sales level in dollars = 24,073 * $419 = $10,086,587
Check:
Variable cost = 3,514,658
Contribution 6,571,929
Fixed costs 1,767,000
Target profit 4,804,929 approx. = $4,805,000
Choose the correct statement regarding rental insurance
A. Rental insurance covers your personal belongings but not the actual building
B. Rental insurance covers the carpeting if the water heater leaks
C. Rental insurance only covers in the case of a hurricane
D. Rental insurance covers everything in a building including the physical building.
Answer:
A. Rental insurance covers your personal belongings but not the building
Explanation:
RENTAL INSURANCE is a type of insurance that help to cover or replace a person or an individual personal belongings in the case of unforseen circumstances such as theft ,fire accident or damage to Property which may arise and on the second hand RENTAL INSURANCE does not cover damage to a person personal property that arise due to damage causes by natural disasters such as hurricanes as well as carpeting repair due to water heater leakage.
Lastly RENTAL INSURANCE does not cover the actual building reason been that it only landlord Insurance policy that covers the actual building which means that the correct statement regarding rental insurance is :Rental insurance covers your personal belongings but not the actual building.
Both the federal government and the state governments share the power to
A. operate post offices.
B. establish and maintain schools.
C. register patents for new inventions.
D. impose taxes.
Answer: I think its D
Explanation: because they have the power to to tax, make enforce laws, and charter banks
If a company had a beginning balance of $69,000 on its statement of changes in owner's equity, the owner had drawings of $15,000 and the ending balance was $76,000, how much net income was recorded
Answer: $22,000
Explanation:
The Statement of Changes in Equity records how the equity holdings of shareholders has change during the year. It includes drawings which reduce the balance and net income which adds to it.
Net income = Ending balance - Opening balance + Drawings
= 76,000 - 69,000 + 15,000
= $22,000
if the government wishes to regular a natural monopoly so that it produces an efficient level of output it would be
Answer: Price capping, Regulation of mergers, breaking up existing monopoly
Explanation:
Price capping us setting regulations on the price that utility provider can charge. The cap is set according to several economic factors such as price cap index, inflation. Also the government would regulate mergers and break existing monopolies
Assume you own shares in Walmart and that the company currently earns $4.80 per share and pays annual dividend payments that total $4.10 a share each year. Calculate the dividend payout for Walmart.
$8.90 dividend payout for Walmart
What is dividend ?A corporation's payout of profits to its shareholders is known as a dividend. A corporation is able to distribute a portion of its profit as a dividend to shareholders when it generates a profit or surplus.
Any remaining funds are seized and reinvested in the company (called retained earnings). A corporation is typically not allowed to pay a dividend out of its capital; therefore, both the current year's profit and the retained earnings from prior years are eligible for distribution.
If the company has a dividend reinvestment plan, the amount can be paid by the issuance of more shares through share repurchase. Alternatively, distribution to shareholders can be made in cash. The distribution may occasionally consist of assets.
A shareholder's dividend is considered their own income and could be liable to income tax (see dividend tax). This income is taxed in various ways depending on the jurisdiction.
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What is the percentage return on a stock that was purchased for $48.40, paid a $1.67 dividend, and was then sold after one year for $46.20
Answer:
-1.10%
Explanation:
Calculation for percentage return on a stock
Stock percentage return=$46.20 + 1.67 - 48.40)/$48.40
Stock percentage return= = -.0110*100
Stock percentage return=-1.10%
Therefore the percentage return on a stock is -1.10%
Based on your understanding of the determinants of interest rates, if everything else remains the same, which of the following will be true? Higher inflation expectations increase the nominal interest rate demanded by investors. The yield on U.S. Treasury securities always remains static.
Answer:
Higher inflation expectations increase the nominal interest rate demanded by investors
Explanation:
In the case when the rate of interest measures when everything remains the same so if there is high inflation so it would be expected that it also rise the nominal rate of interest that demanded by investors as the inflation would be the value that ascend over a time frame
Hence, the same is to be considered
Therefore the first option is correct
g a. Provide the journal entry if the investor purchases the assets and assumes the liabilities of the investee company.
Answer:
Debit : All assets bought at their Fair Value Amounts
Debit : Goodwill (if Payment is greater than Net Assets acquired)
Credit : All liabilities assumed at their Fair Value Amounts
Credit : Method of payment for example cash
Credit : Gain on acquisition (if Net Assets acquired are greater than Payment)
Explanation:
Hi, your question is incomplete, i tried to look for the full question online but i could not find it.
However, below is an explanation to solving the problem.
An acquisition of investee Assets and Liabilities is not a business combination transaction that requires preparation of consolidated financial statements.
A business combination is a transaction or event in which an ACQUIRER obtains CONTROL of one or more Businesses. So, if it is not a business, it is a mere ASSET ACQUISITION transaction.
Thus said, in our question investor purchases the assets and assumes the liabilities of the investee company, this is an Asset Acquisition transaction and not a Business Combination transaction.
The excess of consideration paid over the net assets acquired at fair value is called goodwill and must be recognized. If not the case the excess of net assets acquired over purchase price (gain on acquisition) must be recognized.
Below are the accounting entries to record an Asset Acquisition transaction.
Debit : All assets bought at their Fair Value Amounts
Debit : Goodwill (if Payment is greater than Net Assets acquired)
Credit : All liabilities assumed at their Fair Value Amounts
Credit : Method of payment for example cash
Credit : Gain on acquisition (if Net Assets acquired are greater than Payment)
What is the primary reason that suggests Phoenix does not have to worry about its water supply for the foreseeable future
Answer: c. Phoenix has water rights associated with its agricultural activities
Explanation:
Phoenix is located in an area that receives little rainfall and is more prone to drought and as they keep growing to unsustainable numbers, the pressure on the Colorado river has increased massively.
Phoenix does not need to worry about water supply for the foreseeable future however because it has substantial surface water rights that are linked to its agricultural activities that will help them meet their demand.
What are the two serious problems of traditionalist account?
Answer:
math promlem and science problem
A standard worker produces 8 printers per one shift. If the work average is such that 90% efficiency is expected, what is the actual number of printers that should be produced per one shift
Answer: 7.2 printers
Explanation:
From the question, we are informed that a standard worker produces 8 printers per one shift and that the work average is such that 90% efficiency is expected.
The actual number of printers that should be produced per one shift would be gotten by multiplying the efficiency by the standard worker output. This will be:
= 8 × 90%
= 8 × 90/100
= 8 × 0.9
= 7.2 printers
The Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of:
Answer:
Imports.
Explanation:
Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.
The world trade organization (WTO) is an intergovernmental organization that set rules, policies and regulates global trade across the world.
In this scenario, the Blue Bird Bus Company in Georgia sells buses to the South African government. To South Africa, these buses are an example of imports.
An import can be defined as a type of trade which typically involves the purchase of goods and services from a foreign country for domestic use.
The price of hotdog buns increases sharply. Indicate what will happen to the demand for DECADOGS, a nadonally-recognized brand of hotdog.
Answer:
The demand for DECADOGS in this scenario will decrease sharply
Explanation:
The demand for DECADOGS in this scenario will decrease sharply. This is because as the price of hotdog buns increases less and fewer individuals will purchase hotdog buns because they simply cannot afford to pay those prices or believe they are not worth the price. Since hotdog buns and hotdog demand are correlated with one another (since they are foods that depend on one another), people will not need to buy DECADOGS hotdogs since they are not buying the hotdog buns.
Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (8,000 units) $ 240,000 $ 30.00 Variable expenses 152,000 19.00 Contribution margin 88,000 $ 11.00 Fixed expenses 54,200 Net operating income $ 33,800 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 40 units? 2. What would be the revised net operating income per month if the sales volume decreases by 40 units? 3. What would be the revised net operating income per month if the sales volume is 7,000 units?
Answer:
Results are below.
Explanation:
Giving the following information:
Unitary contribution margin= $11
Fixed costs= $54,200
First, we need to calculate the net income y sales were 8,040:
Net income= 8,040*11 - 54,200
Net income= $34,240
Now, if sales were 7,960:
Net income= 7,960*11 - 54,200
Net income= $33,360
Finally, if sales were 7,000:
Net income= 7,000*11 - 54,200
Net income= $22,800
When trade barriers began to fall, what was the motivation for much of the foreign direct investment by non-U.S. firms
Answer:
The motivations were all the advantages that the U.S. market offers.
These advantages are many, because the U.S. is a developed country, with a very large population, and a robust legal system that protects private property, including the property of non U.S. firms that invest in the country.
For these reasons, once trade barriers began to fall, many non U.S. firms took advantage of the new opportunities, and started to invest in the U.S. market.
The ending inventory of Co. is . If beginning inventory was and goods available (cost of goods available for sale) totaled , the cost of goods sold is
Answer:
the cost of goods sold is $76,000
Explanation:
The computation of the cost of goods sold is shown below:
The cost of goods sold is
= Ending inventory - cost of goods available for sale
= $108,000 - $32,000
= $76,000
Hence, the cost of goods sold is $76,000
The same is relevant and considered too
An elevator operator was a common job four decades ago, but few jobs remain today. The unemployment created by the introduction of automatic elevators is:
Answer: Structural unemployment
Explanation:
Structural unemployment occurs when the skills needed by the job market are not the skills that unemployed people have.
It usually happens as a result of an improvement in technology because the technology introduced would make the skills that the previous workers had obsolete.
In this scenario, the introduction of more efficient elevators reduced the need for elevator operators so their skills were no longer needed and they became unemployed.
Which of the following statements is correct? Group of answer choices The normal balance of revenue is a debit. The normal balance of dividends is a credit. The normal balance of cash is a credit. The normal balance of liabilities is a credit.
Answer:
The normal balance of liabilities is a credit.
Explanation:
In the double entry system one account must be debited in order for the other to be credited.
There are different balances for each account. For the accounts with normal credit balance a credit causes it to increase while a debit decreases it.
For accounts with negative balance a credit reduces its balance while a debit increases its balance.
- Asset: Debit
- Expense: Debit
- Dividends: Debit
- Liability: Credit
- Owner’s Equity: Credit
- Revenue: Credit
- Retained Earnings: Credit
Liabilities are debt owed by a business. When payment is given out to settle a debt (a debit) it reduces to amount a business owes.
If more loans are collected (a credit) the liability figure increases.
So liability has a normal credit balance
QUESTION 4 of 10: True or False: Secondary data is usually more expensive than collecting primary data. a) True b) False
Answer:
False, the secondary data is usally to support the primary.
Explanation:
Secondary data is usually more expensive than collecting primary data. The statement is False. Thus the correct option is B.
What is Primary data?The term "primary data" refers to information created by the researcher themselves, such as results of the survey, group interviews, and experimental results created specifically to help recognize and address the current study issue.
In order to maintain organizational records, huge government institutions, healthcare facilities, etc. generate existing data known as "secondary data." After then, the data is extracted from a wider range of file systems.
Primary data is usually more expensive than collecting secondary data as it is collected firsthand which requires time and effort for performing the particular process.
Therefore, the statement is false.
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Use the following information for ECE incorporated: Assets $200 million Shareholder Equity $100 million Sales $300 million Net Income $15 million Interest Expense $2 million If ECE's stock is currently trading at $24.00 and ECE has 25 million shares outstanding, then ECE's market-to-book ratio is closest to: Group of answer choices
Answer:
6%
Explanation:
Calculation for ECE's market-to-book ratio
Using this formula
Market-to-book ratio = (MV Equity)/(BV Equity)
Let plug in the formula
Market-to-book ratio = ($24 x 25 million)/100 million
Market-to-book ratio = 6%
Therefore ECE's market-to-book ratio is closest to 6%
Entries for Investment in Bonds, Interest, and Sale of Bonds Gonzalez Company acquired $200,000 of Walker Co., 6% bonds on May 1 at their face amount. Interest is paid semiannually on May 1 and November 1. On November 1, Gonzalez Company sold $70,000 of the bonds for 97. Journalize entries to record the following in Year 1: For a compound transaction, if an amount box does not require an entry, leave it blank.
Answer:
A. Dr Investment in Bonds 200,000
Cr Cash 200,000
B. Dr Cash 6,000
Cr Interest revenue 6,000
C. Dr Cash 67,900
Dr Loss on sale of bonds 2,100
D. Dr Interest receivable 1,300
Cr Interest revenue 1,300
Explanation:
A. Preparation of the Journal entry to record The initial acquisition of the bonds on May 1
Dr Investment in Bonds 200,000
Cr Cash 200,000
B. Preparation of the journal entry to Record The semiannual interest received on November 1 Nov
Dr Cash 6,000
[ 200,000 (100%-97%)
Cr Interest revenue 6,000
C. Preparation of the journal entry to Record The sale of the bonds on November 1.
Dr Cash 67,900
( 70,000 * 97%)
Dr Loss on sale of bonds 2,100
(70,000-67,900)
Cr Investment in Bonds 70,000
D. Preparation of the journal entry to Record
The accrual of $1,300 interest on December 31. Dec. 31
Dr Interest receivable 1,300
Cr Interest revenue 1,300