To update accounts and create financial statements, adjusting entries are made at the conclusion of an accounting period.
How can adjusting entries required at May 31 be explained?1. The following adjustment entries are necessary at May 31:
Accrued charges:
$19,750 in receivables Fees a $19,750 profit
c. Supplies spent and available supplies:
Supply Cost $8,150 Supply Cost $8,150
b. Accrued wages: $2,700 in salary and pay expenses
Payable $2,700 in salaries and wages
Rent received: $9,000 in unearned rent
Rent Income: $3000 (to reflect rent earned for one month, or one-third of the advance payment).
g. Depreciation costs: $3,200 in depreciation costs.
Office equipment accumulated depreciation of $3,200.
2. These events, such as accruing income or costs, prepaid expenses, or depreciation, are recognized by these entries as having already happened but have not yet been reported. Correcting entries, on the other hand, are produced to repair inaccuracies in the accounting records. These mistakes might be the result of inaccurate transaction recording, publishing transactions to the wrong account, or other problems. Correcting entries can be made at any point during an accounting period to verify the correctness of the financial records.
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a non-profit organization depends on a number of different types of persons for its successful operation. the organization is interested in the following attributes for all of these persons: social security number, name, address, city, state and telephone. three types of persons are of interest: employees, volunteers and donors. employees have only a date hired attribute, and volunteers have only a skill attribute. donors have a relationship (named donates) with an item. a donor must have donated one or more items, and an item can only be donated by one donor. there are persons other than employees, volunteers and donors who are of interest to the organization, so a person does not have to belong to one of these groups. a person may also belong to one or more of these groups, at any one time.
It seems like you provided a description of a data model or database schema for a non-profit organization. The attributes mentioned for each type of person are as follows:
All persons: social security number, name, address, city, state, and telephone
Employees: date hired
Volunteers: skill
Donors: relationship named donates with an item
Additionally, it is stated that a donor must have given one or more items, and only one donor may give an item. A person may also be a member of one or more of these groups at any given time. These other people of interest to the organization might not necessarily be workers, volunteers, or donors.
The non-profit organization can track pertinent information about these individuals, such as their contact details, employment status, skills, and donations, with the aid of this data model or schema, which is helpful for organizing information about the various types of people who interact with the organization. The organization can manage its resources and operations more skillfully if this data is easily accessible.
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Answer:non-profit organization.
Explanation:
How do you write a SQL query that is greater than or equal to?
To write a SQL query that checks if a column value is greater than or equal to a specific value, you can use the greater than or equal to the operator (>=). The operator is used to compare two values and returns true if the first value is greater than or equal to the second value.
The basic syntax for a SQL query that uses the greater than or equal to the operator is:
SELECT column_name(s)
FROM table_name
WHERE column_name >= value;
In this example, column_name is the name of the column you want to compare, table_name is the name of the table that contains the column, and value is the specific value that you want to compare the column against. The query will select all the rows from the table where the value of the column is greater than or equal to the specified value.
For example, if you have a table named "students" with a column named "age", and you want to select all students who are 18 years or older, you can use the following query:
SELECT *
FROM students
WHERE age >= 18;
This query will select all the rows from the "students" table where the value of the "age" column is greater than or equal to 18.
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refer to exhibit 4.1. what is the firm's total debt to total capital ratio? do not round your intermediate calculations. question 2 options: 61.44% 65.28% 49.92% 48.00% 64.00%
Based on the figures presented in Exhibit 4.1. the first Debit-To-Capital Ratio is 48% (Option C)
What is Debt To Capital Ratio and why is it important?Debt to Capital Ratio is a financial metric that measures a company's total debt compared to its total capital (debt + equity). It is important because it provides insight into a company's financial leverage and ability to meet its financial obligations.
The calculation is given as follows;
The firm's total debt to total capital ratio is:
Total debt = Notes payable + Long-term bonds = $5,460 + $7,800 = $13,260
Total capital = Total debt + Total common equity = $13,260 + $14,040 = $27,300
Total debt to total capital ratio = Total debt / Total capital = $13,260 / $27,300 = 0.4857 or 48.57%
Therefore, the answer is (Option C)
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Full Question:
The following information ins Exhibit 4.1
Total assets $39,000
Liabilities and Equity
Accounts payable $7,410
Accruals 4,290
Notes payable 5,460
Total current liabilities $17,160
Long-term bonds $7,800
Total liabilities $24,960
Common stock $5,460
Retained earnings 8,580
Total common equity $14,040
Total liabilities and equity $39,000
Income Statement (Millions of $) 2016
Net sales $58,500
Operating costs except depreciation 54,698
Depreciation 1,024
Earnings before interest and taxes (EBIT) $2,779
Less interest 829
Earnings before taxes (EBT) $1,950
Taxes 683
Net income $1,268
Other data:
Shares outstanding (millions) 500.00
Common dividends (millions of $) $443.63
Int rate on notes payable & L-T bonds 6.25%
Federal plus state income tax rate 35%
Year-end stock price $30.42
refer to exhibit 4.1. what is the firm's total debt to total capital ratio? do not round your intermediate calculations. question 2 options: 61.44% 65.28% 49.92% 48.00% 64.00%
This morning, Clayton deposited $2,500 into an account that pays 5 percent interest, compounded annually. Also this morning, Jayda deposited $2,500 et 5 percent interest, compounded annually. Clayton will withdrew his interest earnings and spend it as soon as possible. Jayde will reinvest her interest earnings into her account. Given this information, which one of the following statements is true? Multiple Choice A. Clayton will earn compound Interest. B. Jayda will earn more interest in Year 2 than Clayton will earn C. Jayda will earn more interest in Year 1 than Clayton will eam. D. After five years, Clayton and Jayda will both have earned the same amount of Interest. E. Clayton will earn more Interest In Year 3 than Jayda will eam.
C. Jayda will earn more interest in Year 1 than Clayton will earn. It is accurate to say that Jayda will make more interest in Year 1 than Clayton will.
Jayda and A. Clayton both deposited the same amount and are earning the same interest rate compounded yearly, therefore both will accrue compound interest. However, Jayda will reinvest her interest profits into her account whereas Clayton will withdraw his and spend them, causing Jayda's account balance to increase more quickly than Clayton's. Therefore, the assertions B, C, and E are all untrue: Jayda will earn more interest in Year 2 than Clayton will, Jayda will earn more interest in Year 1 than Clayton will, and Clayton will earn more interest in Year 3 than Jayda will. D. Clayton and Jayda will have accumulated different sums of interest after five years, with Jayda having accumulated more thanks to compounding on her reinvested interest.
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FILL IN THE BLANK. purchasing power parity is used to adjust gross national income in order to make a more direct comparison of ___ in various countries.
A purchasing power parity (PPP) adjustment makes it possible to compare countries' standards of living more precisely.
With drastically differing price levels, 189 different countries and territories have been evaluated by the HDI (Human Development Index). The data must first be transformed into a common currency in order to be compared across nations' economies. PPP exchange rates, as opposed to market exchange rates, enable this conversion to account for price variations between nations. GNI per capita serves as the best indicator of a person's standard of living (PPP). A purchasing power parity (PPP) adjustment makes it possible to compare countries' standards of living more precisely. The basis for the modification is the cost of living in the US.
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In a small town, there are two discount stores ABC and XYZ. They are the only stores that handle the festival goods. The total number of customers is equally divided between the two because the price and quality of goods sold are equal. Both stores have good reputations in the community, and they render equally good customer services Assume. that a gain of customer ABC byis a loss to XYZ and vice versa. Both stores plan to run annual pre-Christmasale during the first week of December. Sales are advertised through the local news paper,radio and television media.With the
aid of advertising thef payofforABC store is constructed and given. below
XYZ store
News paper Radio Television
News paper 30 40 -80
ABC radio 0 15 -20
Television 90 20 50
Find optimal strategiesbothfor stores and the value of the game.
An approach for analysing situations where parties, or players, make interdependent decisions is provided by the field of applied mathematics known as game theory.
What is the aid of advertising thef payoff?Each player's decision or plan must take into account the prospective actions or strategies of the other players because of their interconnection.
A game's solution outlines the optimal decisions taken by players, who may have similar, opposing, or mixed interests, as well as the potential outcomes. Parlor games have been studied using game theory, although its applications are much more varied.
In reality, American economist Oskar Morgenstern and American mathematician John von Neumann of Hungarian and German ancestry developed game theory to address economics-related problems. They were Princeton University classmates.
Therefore, Although newspaper is the best course of action for XYZ, television is the best course of action for ABC.
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when a firm reduces errors before and after delivery to the customer and thus delivers what the customer wants, the firm is said to exemplify the definition of blank .
The phrase "production management" refers to all of the tasks that managers perform to assist businesses in producing things. Operations management is a specialist branch of management that deals with the conversion of resources, particularly human resources, into products and services.
The supply chain is managed by an operations manager. The administration of a product's whole production process, from raw materials to completed goods, is known as supply chain management. Production, distribution, shipping, and product delivery are all included in this.
To accomplish product's corporate goals, leaders must inspire their team members and shape their behaviour. Instead than focusing on managing tasks, leadership focuses on management people, such as individual employees, teams, and groups.
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A monopolistically competitive firm advertises in order to...
a) shift the demand curve for its product to the left.
b) make the demand for its product less price elastic
c) make its product more similar to its competitors'
d) increase its positive externalities
e) reduce the industry's barriers to entry
The correct option is b) make the demand for its product less price elastic. In monopolistically competitive markets, firms produce differentiated products that are close substitutes to their competitors' products.
As a result, the demand for each firm's product is relatively elastic, meaning that a small increase in the price of a product would lead to a significant decrease in the quantity demanded. In order to reduce the price elasticity of demand for its product, a monopolistically competitive firm would engage in advertising to differentiate its product from its competitors, create brand loyalty, and reduce consumers' sensitivity to price changes. Advertising allows a firm to highlight the unique features of its product, such as quality, style, or convenience, and convince consumers that its product is superior to others. By doing so, the firm can establish a perceived difference between its product and its competitors' products, which makes consumers less likely to switch to a competitor if the firm raises its prices. Consequently, the demand for the firm's product becomes less price elastic, and the firm gains some degree of market power, allowing it to charge a higher price and earn economic profits. In summary, advertising in monopolistically competitive markets is used to create product differentiation, reduce the price elasticity of demand for a firm's product, and establish brand loyalty, which gives the firm some market power and allows it to earn economic profits.
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buhi has provided several statements about their company and the nurture messenger bag. you will need to review each statement and flow it into a swot analysis. you will be given a list of statements that will need to be moved into one of four categories: strengths, weaknesses, opportunities, and threats.
SWOT analysis is a tool used to evaluate the strengths, weaknesses, opportunities and threats of a business or project. It is used to identify internal and external factors that can affect the success of a business. The statements made by Gubuhis about their company and the Nurture Messenger Bag can be categorized as follows:
Strengths:
-The bag is made of natural fibers and is environmentally friendly
-The bag is light and comfortable
Weaknesses:
-The bag is expensive compared to other messenger bags in the market
Opportunities:
-The bag has a unique design and style that will appeal to a wide range of customers
-The bag is a great way to promote a more sustainable lifestyle
Threats:
-Competition of other messenger bags that are lower in price
-The bag is not widely available, which limits its ability to reach a larger market
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is it ok to provide training opportunities to only a few employess and not an employee over the age of 40____
No, it is not ok to provide opportunities to only a few employees and not an employee over the age of 40. This could be seen as age discrimination, which is illegal, in most countries. All employees should be given the same opportunities regardless of their age.
Age discrimination is a serious issue, and it is illegal in most countries .it is important for companies to ensure that all employees, regardless of their age are given the same opportunities. Providing training opportunities to only a few employees and not an employee over the age of 40 could be seen as age discrimination, as an employee over 40 is treated differently because of their age .
This could lead to legal issues and a damaging reputation for the company. In order to prevent age discrimination, it is essential that all employees are given the same opportunities, Companies should create policies and procedures in place to ensure that all employees are treated equally, regardless of their age. This could include providing equal training opportunities, equal pay, and equal access to promotions.
it is also important for companies to create a culture of respect and acceptance, where employees of all ages are given the same respect and recognition
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Consider the following scenario to understand the relationship between marginal and average values.
Suppose Raphael is a professional basketball player, and his game log for free throws can be summarized in the following table.
Fill in the columns with Raphael's free-throw percentage for each game and his overall free-throw average after each game.
Game Game Result Total Game Free-Throw Percentage Average Free-Throw Percentage
1 8/10 8/10 80 80
2 6/10 14/20 3 1/5 15/25 4 3/5 18/30 5 8/10 26/40 On the following graph, use the orange points (square symbol) to plot Raphael's free-throw percentage for each game individually, and use the green points (triangle symbol) to plot his overall average free-throw percentage after each game.
Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Game Free-Throw Percentage Average Free-Throw Percentage 0 1 2 3 4 5 100 90 80 70 60 50 40 30 20 10 0
FREE-THROW PERCENTAGE GAME
You can think of the result in any one game as being Raphael's marginal free-throw percentage. Based on your previous answer, you can deduce that when Raphael's marginal free-throw percentage is below the average, the average must be . You can now apply this analysis to production costs. For a U-shaped average total cost (ATC) curve, when the marginal cost curve is below the average total cost curve, the average total cost must be . Also, when the marginal cost curve is above the average total cost curve, the average total cost must be . Therefore, the marginal cost curve intersects the average total cost curve .
When the average cost decreases, the marginal cost also decreases. The marginal cost rises as the average cost does, exceeding the typical cost. When the average cost is constant (at a minimum or maximum)
What is meant by Tax Rate ?In a proportional tax, the average tax rate is equal to the set tax rate. With tax brackets, which are frequently used for progressive taxes, the average tax rate rises as taxable income rises through the tax brackets, asymptotically reaching the top tax rate.
Consider a system having three tax brackets, such as 10%, 20%, and 30%, where the 10% rate applies to income up to $10,000, the 20% rate to income between $10,000 and $20,000, and the 30% rate to all income over $20,000, as an example.
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Consider the market for chicken.
Assume the demand for chicken can be represented by the following equation:
????dc= ???? + ????Pc +???????? + ????Pb,
where ????dc= quantity demanded of chicken, Pc = price of chicken, ???? = per capita
income for consumers, Pb = price of beef, and ????, ????, ???? and ???? are constants.
A) Draw a supply-demand model. Correctly label the axes and curves, and identify the equilibrium price and quantity.
B)Start with the equilibrium depicted in part (a). Now suppose buyers’ incomes rise due to economic growth in the United States. Graphically illustrate the effect of the income change on the market for chicken. Show the shift(s) in demand and/or supply and the impact on the equilibrium price and quantity. (Hint: you may need to make an assumption).
C)Start with the equilibrium depicted in part (a). Now suppose the price of beef decreases. Graphically illustrate the effect of the change in the price of beef on the market for chicken. Show the shift(s) in demand and/or supply and the impact on the equilibrium price and quantity. (Hint: you may need to make an assumption).
D) Start with the equilibrium depicted in part (a). Now suppose Tyson Inc., a well-known processed chicken producer, successfully lobbies to provide consumers with a subsidy to purchase chicken. Show graphically how the subsidy affects the market for chicken. Show the shift(s) in demand and/or supply and the impact on the equilibrium price and quantity. In general, what is the rational for a subsidy?
E)Start with the equilibrium depicted in part (a). Now suppose the price of chicken feed decreases. What effect would this have on the market for chicken? Graphically illustrate the effect of the change in the price of chicken feed on the market for chicken. Show the shift(s) in demand and/or supply and the impact on the equilibrium price and quantity.
The solution is $0.75
What is the Calculation ?100 + 1P = 400 + 5P (subtract 1P from both sides of the equation) (subtract 1P from both sides of the equation)
100 = 400 +4P (subtract 400 on both sides of the equation) (subtract 400 on both sides of the equation)
-300 = 4P (divide by 4 on both sides of the equation) (divide by 4 on both sides of the equation)
-75 = P
$-0.75 = P
In economics, the relationship between the price of a particular good (the y-axis) and the quantity of that good that is sought at that price is represented by a demand curve (the x-axis). Demand curves can be used to analyze the relationship between price and quantity for one consumer (a single demand curve) or for all consumers in a given market (a market demand curve).
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True or False: Exporting refers to a situation where a company maintains ownership of its plants, operational facilities, and offices in a foreign country in which it sells its products.
XYZ's journal entry to record the return of merchandise previously purchased on account by XYZ was recorded by debiting Inventory and crediting Accounts Payable. As a result of this entry, _____. (Select all that apply.)
a. liabilities will be overstated
b. liabilities will be understated
c. stockholders' equity will be overstated
d. assets will be overstated
e. assets will be understated
f. stockholders' equity will be understated
Accounts Payable. As a result of this entry liabilities will be overstated and assets will be overstated.
The correct option is A and D.
A current liability item called accounts payable is used to monitor any money you owe to other people. Banks, businesses, or even a person you borrowed from might be considered third parties. Accounts payable frequently refers to the acquisition of services or goods from other businesses.
What kinds of accounts payable are there?Payables include things like trade payables, non-trade payables, paid, loans payable, and wages due. The first four of these payables are normally handled by the accounts payments system, while the final category is typically handled by the payroll system.
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when price (P) exceeds minimum average variable cost (AVC), each unit of output generates ______ revenue than the cost per unit of the variable inputs
When price (P) exceeds minimum average variable cost (AVC), each unit of output generates more revenue than the cost per unit of the variable inputs.
In the term of economic and business, Average variable cost also known as AVC. Average variable cost also known as AVC generally can be defined as the cost of all variable expenses involved in creating a product. Variable costs change over time and often depend on the business' production volume, like materials and labor. Average variable cost can be calculated by dividing Variable Cost with the quantity of output produced.
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Suppose that Markus Braun has a set of steps that Wirecard takes each time they acquire a new company. This _ is known as a _ .
As Markus Braun has a set of steps that Wirecard takes each time they acquire a new company This is known as a strategic goal.
What is the goal?A goal is a target or objective that someone is attempting to reach. The goal can also refer to the finish line of a race or the object that a player is attempting to insert as part of a game. As a noun, "goal" has other meanings.
The term strategic goals are referred to the specific and the financial as well as the non-financial objectives, There aims to achieve the goals in a specific period of time is there in it.
Therefore, As a result, The Wirecard takes each time they acquire a new company is known as strategic goals.
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Select all that apply Explain your understanding of what an accrued expense is by selecting the statements below which are correct (Check all that apply) A. Examples of accrued expenses are wages expense and interest expense.
B. Adjustments involve increasing both an expense and a liability account C. They refer to costs that are incurred in a period, but are both unpaid and unrecorded.
D. They are reported on an income statement.
E. They refer to earnings which have been earned, but not yet billed. F. They are also called accounts receivable.
A. Wages expenditure and interest expense are two examples of accumulated expenses. B. Adjustments entail raising the liability and expense accounts. C. They alludes to expenses that are incurred within a time period but are not paid or reported.
What are wages expenditure?The amount of money a company spends on paying its workers a wage is known as a wage expenditure. This covers salaries, hourly pay, and additional types of payment including bonuses and perks. The cost of wages is a substantial expense for the majority of firms, and it is often shown as an operating expense or cost of products sold on the income statement of the organization. A corporation must carefully monitor and control its salary costs since they can significantly affect the business's financial performance and profitability. The cost of salaries is an area that needs careful consideration and planning since variables like employee productivity, attrition, and pay may all have an impact.
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which of the following is not a factor that affects the bid/ask spread?a. Order costsb. Inventory costsc. Volumed. All of the above factors affect the bid/ask spread
The correct option : All of the above factors - Order costs, Inventory costs and volumes affect the bid/ask spread.
Explain the factors affecting bid/ask spread?The difference between the best demand rate (cheapest sell price) and the finest bid rate (maximum buy price), expressed in rupees or pesos, is known as the bid-ask spread.
The trading volume is the primary element affecting the bid-ask spread's width. Market volatility is a crucial aspect that affects the bid-ask spread. Spreads are typically higher for stocks that are hardly traded. Additionally, during periods of extreme volatility, the bid-ask spread widens.Due to the variations in liquidity, the bid-ask spread varies depending on the asset. This bid-ask spread is small in a liquid market with a significant trading volume because there are several buyers and sellers.To know more about the bid/ask spread, here
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because the zero point is fixed in interval scales, it is not meaningful to take ratios of scale values. ratios of differences between scale values are permissible.
False, Taking ratios of scale values is meaningless because the zero scale is not stable. However, ratios of scale value differences are acceptable.
On a ratio scale, what does the 0 point represent?The zero on a ratio scale has a real value, or a value that has meaning. Using the real zero value of a ratio scale, it is possible to express the magnitude of a quantity.
What consequences does the arbitrarily chosen zero point in an interval scale have?Since the location of the zero point is not fixed on an interval scale, the origin characteristic is missing. Any positive linear transformation of type y - a + bx retains the scale's characteristics. Given that the zero scale is unstable, taking ratios of scale values is nonsensical. Differences in scale values are permitted in ratios, though.
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The complete question is:
Because the zero point is fixed in interval scales, it is not meaningful to take ratios of scale values. ratios of differences between scale values are permissible. True / False
According to Maslow's Hierarchy of Needs, lower order needs do NOT have to be satisfied in order to advance to a higher order of need (T/F).
False, As according Maslow's Hierarchical Hierarchy of Needs, a higher level of need can be met without first addressing a lower order need.
What lower-order requirements are there, according to Maslow's theory of needs?The base of Maslow's needs hierarchy is physiological needs. They are the items that an individual needs the most in order to survive. These comprise the need for food, clothing, warmth, relaxation, and health. At this level, a person's motivation comes from their innate will to survive. The highest level of Maslow's needs hierarchy is self-actualization. It is the endeavour of realising one's full potential. This need, unlike lower-level needs, is never completely satisfied because there are always fresh possibilities to grow.
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Every day, you receive several payments with different payment methods. How should you record payments in QuickBooks Online so you can record the deposit after depositing payments in the bank?
Choose Receive Payment from the Clients menu or the QuickBooks Home page. Choose the customer's name from the drop-down menu under "Received From." Input the received amount. Verify the date is accurate before selecting the payment method.
What is QuickBooks Online?A cloud-based financial management tool is QuickBooks Online. By assisting you with things like: Generating quotes and invoices, it is intended to reduce the amount of time you spend handling your company's money. monitoring the cash flow and sales.
You can manage and examine every aspect of your business with the aid of QuickBooks Online Plus. With job costing, it's simple to keep tabs on wages, expenses, and labor costs. Using simple dashboards and reports, you can see a project's profitability. Even your stock and inventory can be managed.
Thus, Choose Receive Payment from the Clients menu or the QuickBooks Home page.
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Job 593 was recently completed. The following data have been recorded on its job cost sheet:
Direct materials $2,429
Direct labor-hours 71 labor-hours
Direct labor wage rate $20 per labor-hour
Machine-hours 134 machine-hours
The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $21 per machine-hour. The total cost that would be recorded on the job cost sheet for Job 593 would be:
A. $3,987
B. $7,503
C. $3,849
D. $6,663
Job 593 would have a total cost of $6,663 that would be reported on the job cost sheet. Option d.) is correct.
We must sum the direct material cost, the direct labor cost, and the manufacturing overhead cost incurred for Job 593 in order to determine the total cost that would be listed on the job cost sheet.
The price for the direct materials is listed as $2,429
Direct Labor Cost = direct labor hours x direct labor rate
Direct Labor Cost = 71 hours of labor x $20 an hour
Direct Labor Cost = $1,420
The specified overhead rate must be multiplied by the actual machine hours used on the task in order to estimate the manufacturing total cost that will be charged to it.
Predetermined overhead rate multiplied by machine hours equals the manufacturing overhead cost applied to the job.
The applied manufacturing overhead cost for the job is $21 per machine-hour multiplied by 134 machine-hours.
The job's manufacturing overhead cost = $2,814
The total cost listed on the task cost sheet for Job 593:
Total Cost = direct material costs + direct labor costs + manufacturing overhead costs.
Total Cost = $2,429 + $1,420 + $2,814
Total Cost = $6,663
Thus, $6,663 would be the total amount listed on the task cost sheet for Job 593.
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In the context of business-to-business marketing, which of the following is the most important part of marketing communications?
Advertising
Sales promotion
Direct marketing
Public relations
Personal sellingCorrect.
Although advertising is a far more visible activity, personal selling is the most important part of marketing communications for most businesses. This is particularly true in business-to-business marketing, where more is spent on personal selling than advertising, sales promotion, publicity, or public relations. See 1-1: Personal Selling Defined
The following option that show us about the most important part in the marketing communications is E. Personal selling.
In the term of economy and business strategy, Personal selling generally can be defined as a condition when a sales representative meets with a potential client for the purpose of transacting a sale. Many sales representatives rely on a sequential sales process that typically includes nine steps. Some sales representatives develop scripts for all or part of the sales process. There are several types of personal selling, such as Transactional selling, Solution selling, Consultative selling, and also Provocative selling.
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true/false. a. an educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. the company compares how much adding another worker will improve the product to the additional cost.
Option b: Marginal decision. It refers to the effect of consuming and/or producing additional units of goods or services.
Marginal Utility – A change in total private utility that adds 1 unit.
Marginal cost – 1 additional unit change in total private cost
Rational consumers and producers are assumed to calculate the marginal costs and benefits of every decision. It asks behavioral economics questions and the use of marginal or arbitrary choice.
One of the basic principles of economics is the marginal principle.
According to this principle, rational decision-makers in the economy (individuals, households, firms, etc.) assume that the marginal cost of production (or the cost of consumption/production) is an additional unit of production utility).
Thus, the frontier principle helps agents determine how much of a good or service to consume/produce by continuously analyzing the costs and benefits of consuming/producing additional units.
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Complete question:
An educational software company wants to expand the number of economics questions that it offers and is considering hiring another economist. The company compares how much adding another worker will improve the product to the additional cost.
A.)opportunity cost
B.)marginal decisions
C.)resource scarcity
A company purchased equipment for $2,000 cash. This transaction would be journalized with a debit to the _____ account and a credit to the_____ account.
Answer:
equipment, cash
Explanation:
Richer countries tend to regulate business activity ________, whereas poorer countries tend to regulate business activity ________.
a. unpredictably; predictably
b. without cause; as warranted
c. more; less
d. less; more
d. less; more . Richer nations tend to regulate business activity less, whereas poorer nations tend to regulate business activity more.
What Exactly Are Business Activities?Any action a business engages in with the primary objective of producing a profit is considered a business activity. This is a broad phrase that refers to all of the economic operations a corporation engages in while conducting business.
What are the four main business activities?Sales, customer service, management, and marketing are a few essential business operations. These operations are a regular aspect of a business's operation and have an impact on its monthly, quarterly, and annual revenue and profit.
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At the end of the current year, Accounts Receivable has a balance of $3,750,000, Allowance for Doubtful Accounts has a credit balance of $22,750, and sales for the year total $48,400,000. Bad debt expense is estimated at ¾ of 1% of sales. Determine (a) the amount of the adjusting entry for uncollectible accounts; (b) the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense; and (c) the net realizable value of accounts receivable.
Accounts receivable currently have a $3,387,000 net realizable value.
What is meant by net realizable value?The value at which an asset can be sold less the projected expenses of selling or disposing of the asset is known as a net realizable value or NRV. Accounts receivable or ending inventory value is frequently estimated using the NRV.
Given
Receivable has a balance of $3,750,000
Allowance for Doubtful Accounts has a credit balance of $22,750
sales for the year total $48,400,000
Bad debt expense is estimated at ¾ of 1% of sales
Required to Calculate:
the amount of the adjusting entry for uncollectible accountsthe adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expensesthe net realizable value of accounts receivable.The amount of the adjusting entry for uncollectible accounts can be calculated as follows:
Bad debt expense = ¾ of 1% of sales
= (0.75 / 100) x $48,400,000
= $363,000
To adjust the Allowance for Doubtful Accounts to the required balance, we need to increase the balance by the amount of bad debt expense and decrease the balance by the existing credit balance.
Adjusting entry = Bad debt expense - Allowance for Doubtful Accounts
= $363,000 - $22,750
= $340,250 (debit)
Therefore, the adjusting entry for uncollectible accounts is $340,250 (debit).
The adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expenses can be calculated as follows:
Accounts Receivable = $3,750,000
Allowance for Doubtful Accounts = $22,750 + $340,250 = $363,000 (credit)
Bad Debt Expense = $363,000
Therefore, the adjusted balances of Accounts Receivable, Allowance for Doubtful Accounts, and Bad Debt Expense are $3,750,000, $363,000 (credit), and $363,000, respectively.
The net realizable value of accounts receivable can be calculated as follows:
Net realizable value = Accounts Receivable - Allowance for Doubtful Accounts
= $3,750,000 - $363,000
= $3,387,000
Therefore, the net realizable value of accounts receivable is $3,387,000.
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Which of the following would not be a required confirmation of management responsibility when addressing fraud in the management representation letter? A) To disclose to the auditor any knowledge or suspicion of fraud involving management. B) To design, implement, and maintain a system of internal controls designed to prevent and detect fraud. C) To report any significant fraud to the appropriate authorities. OD) To disclose to the auditor the results of management's assessment of the risk that the financial statements may be materially misstated due to fraud.
The following would not be a required confirmation of management responsibility when addressing fraud in the management representation letter To report any significant fraud to the appropriate authorities.
What duties fall under management in cases of fraud?The duties of management include fostering an environment where fraud is not allowed, identifying fraud risks, and taking the necessary steps to guarantee that controls are in place to stop and catch fraud.
What duties do management and the auditor have with relation to fraud?Auditors must learn how management evaluates and reacts to the risk of fraud in order to be able to make this evaluation. The auditor must also find out if management, internal auditors, and those in charge of governance are aware of any fraud, whether it is actual or just suspected.
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Which one of the following helps boost the S/Q rating of branded pairs produced at a particular plant? Increasing the number of models/styles produced Avoiding use of green materials (which are of lower quality than superior materials) Increasing expenditures for best practices training for workers Increasing worker base pay by more than 5% annually Avoiding the use of overtime at the plant
Increasing the number of models/styles produced helps boost the S/Q rating of branded pairs produced at a particular plant .
What factors into a Q rating?
The percentage of superior materials used by a company, the total amount spent on TQM/Six Sigma quality control procedures, the utilization of best practices training, and the cost of new styling/features for each model are all elements that determine a company's S/Q grade.
What makes image rating crucial?
Game-to-date performance is measured using a 3-year average image rating in order to avoid weighing down a company's performance with image ratings that are not accurate reflections of the image and reputation it has lately built through its strategy. The most popular image file types on the web are JPEG, PNG, and SVG, according to use data.
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which of the following are most likely fixed costs?multiple select question.electricity to operate factory machinesadministrative salariesfactory insurancefactory rent
Insurance factory rent are most likely fixed costs. Rent, lease payments, salaries, insurance, property taxes, interest costs, depreciation, and possibly some utilities are just a few examples of fixed costs. The answer is OPTION D.
For instance, a new business owner would probably start out with fixed costs like rent and management salaries. Overhead is another name for fixed expenses.
Costs that change as the instance changes are known as variable costs. Raw materials, piece-rate labour, production supplies, commissions, delivery costs, packaging costs, and credit card fees are a few examples of variable costs. However, as the workforce grows or shrinks, so can the wages paid to employees.
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