The plaintiff and the defendant entered into a three-year contract in which the defendant would be the sole supplier of steel parts that the plaintiff used in its products. A dispute arose after the defendant sought to surcharge the parts sold to reflect increased costs. The plaintiff filed a lawsuit for breach of contract, and the jury returned a verdict in favor of the defendant, finding on a special verdict that there had been a valid modification to the contract, based solely on e-mails between the parties. Is this evidence enough to support a reformation of the contract?

Answer:

the opportunity cost of attending summer school is $10,300

Explanation:

The computation of the opportunity cost of attending summer school is shown below:

= Earnings for the summer + tuition cost + books and supplies cost + room and board cost

= $6,000 + $3,000 + $300 + $1,000

= $10,300

hence, the opportunity cost of attending summer school is $10,300

Answer:

False!

Explanation:

A foreclosure document is what a lender uses to reclaim a property due to lack of borrower payment.

Answer:

Machinning= $487,500

Explanation:

Giving the following information:

The activity rate for Machining is $125 per machine hour.

Product A Product X Total

Machine hours 1,900 3,900 5,800

To assign costs to Product X, we need to use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Machinning= 125*3,900

Machinning= $487,500

Answer:

Transaction              Debit                    Credit

Big. bal.                     5,000

1.                                15,000

2.                                                            9,000

3.                                                            3,000

4.                               8,000

5.                                                            1,000

6.                               4,000

7.                                                            7,000

8.                                       NO ENTRY

Ending bal.               12,000

Transaction number 8 is not included since an accounts payable is created, there is no cash outflow.

Explanation:

Answer:

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

Dr Unearned Service Revenue 3200

Cr Service Revenue 3200

Explanation:

Preparation of the adjusting entries at April 30

Based on the information given the adjusting entries at April 30 will be :

Apr. 30

Dr Supplies Expense $1,900

Cr Supplies $1,900

($2,700-$800)

(Being to record supplies on hand)

Dr Unearned Service Revenue 3200

Cr Service Revenue3200

(Being to record Unearned Service Revenue)

Answer and Explanation:

An ideal randomized controlled experiment to measure the productivity of the factory would be established in the following way: owners of all sectors of the factory would be selected. This selection would be done completely randomly so that it was possible to select individuals different from each other. These employees would be divided into two groups. The first group would receive training, the second group would not receive training.

In this case, the productivity of one group would be compared to the productivity of the other, after both groups were submitted to a period of work, after the first group received training.

Answer:

Results are below.

Explanation:

First, we need to calculate the activities allocation rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Material handeling= 8,700/2,900= $3 per part

Machine setup= 4,650/15= $310 per setup

Insertion of parts= 49,300/2,900= $17 per part

Finishing= 75,600/1,800= $42 per direct labor hour

Now, we can allocate overhead to Job 420:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Material handeling= 3*150= $450

Machine setup= 310*4= $1,240

Insertion of parts= 17*150= $2,550

Finishing= 42*120= $5,040

Total allocated costs= $9,280

Finally, allocated costs to Job 510:

Material handeling= 3*500= $1,500

Machine setup= 310*5= $1,550

Insertion of parts= 17*500= $8,500

Finishing= 42*320= $13,440

Total allocated costs= $24,990

Answer:

I just learn Logic Of ABi Nandan...Then after That I understand every thing...

Answer:

a. The variable cost per rental return is $4.04.

b. The monthly fixed cost Incurred to wash cars is $1,376.

Explanation:

Note: See the attached excel file for the calculations of Rental Returns (x), Car Wash Costs (y), xy, and x^2.

Since Σ = Total of or summation of, we can therefore obtain the following from the attached excel file:

Σx = 34,854

Σy = 157,317

Σxy = 462,541,971

Σx^2 = 102,623,516

N = Number of months = 12

a. calculation of variable cost per rental return

To calculate the variable cost per rental return, the following formula is used:

Variable cost per rental return = (NΣxy − ΣxΣy) /((NΣx²) − (Σx)²) ……………… (1)

Substituting the relevant values into equation (1), we have:

Variable cost per rental return = ((12 * 462,541,971) - (34,854 * 157,317)) / (((12 * 102,623,516) - 34,854^2)

Variable cost per rental return = 4.03917240317595

Rounding to 2 decimal places as required, we have:

Variable cost per rental return = $4.04

Therefore, the variable cost per rental return is $4.04.

b. Calculation of monthly fixed cost Incurred to wash cars

To calculate the monthly fixed cost Incurred to wash cars, the following formula is used:

Fixed Cost per month =  {Σy - (Variable cost per rental return * Σx) / N ....... (2)

Substituting the relevant values into equation (2), we have:

Fixed Cost per month = (157,317 - (4.04 * 34,854)) / 12

Fixed Cost per month = $1,375.57

Rounding to the nearest whole dollar amount as required, we have:

Fixed Cost per month = $1,376

Therefore, the monthly fixed cost Incurred to wash cars is $1,376.

The variable cost per rental return is $4.04 and the fixed cost per month is $1378.

The following can be depicted from the question

Σx = 34,854

Σy = 157,317

Σxy = 462,541,971

Σx² = 102,623,516

N = number of months = 12

Variable cost per rental return will be:

= ( N Σxy − Σx Σy)/{(N Σx²) − (Σx)²}

= {( 12 × 462,541,971) - (34,854 × 157,317) } / {(12 ×102,623,516) - (34,854)²}

= (5,550,503,652 - 5,483,126,718) / (1231482192 - 1214801316)

= 67,376,934 / 16680876

= $4.04

Fixed Cost per month will be:

=  {Σy - ( Variable cost per rental return × Σx )/N

= {157,317 - (4.04 × 34,854)} /12

= ( 157,317 - 140,810.16) /12

= $1378

Learn more about fixed cost on:

https://brainly.com/question/14846723

Answer:

Hardesty

a) January 1, 2017:

Debit Interest payable $46,500

Credit Cash $46,500

To record the payment of interest on bonds.

b) January 1, 2017:

Debit Long-term liabilities Bonds payable $160,000

Debit Bonds Redemption Expense $11,200

Credit Cash $171,200

To record the redemption of bonds at 107.

c) December 31, 2017:

Debit Interest Expense $36,450

Credit Interest Payable $36,450

To record interest expense for balance of bonds.

Explanation:

a) Data and Calculations:

Current liabilities

Interest payable $ 46,500

Long-term liabilities Bonds payable (9%, due January 1, 2020) $565,000

Interest payment date = January 1

Face value of bonds called = $160,000

Call price = 107

Bond redemption expense = ($160,000 * 107/100) - $160,000 = $11,200

Interest expense for 2017:

= ($565,000 - $160,000) * 9% = $36,450

Answer:

City of Milwaukee Tourism Bureau

The basic guideline of radio copywriting that this technique addresses is:

b. Stress the main selling points.

Explanation:

Exploiting the city's selling points and communicating the benefits derivable from touring the city's museums, art galleries, concerts, festivals, and special events are the top guidelines for radio copywriting.  Other guidelines will include focusing on the "you" and not "we," not providing too much information, and including a call for action.

Answer:

2, 3

Explanation:

Indirect labour includes labour not included in the production process of a good or service. They are involved in the running of the business instead

They include

Accountants

Lawyers

Administrative staffs

Maintenance employees

Direct labour includes labor of employees working directly on the product.

Answer:

$46,500 unfavorable

Explanation:

The computation of the total sales quantity variance is as follows:

Total sales quantity variance    

Sales quantity variance is

= (Actual quantity sold - Budgeted quantity) × Budgeted price

For product X, it would be

= (42,000 - 22,500) × $13

= $253,500 favorable  

And, For product Y, it is

= (80,000 - 90,000) × $30

= $300,000 unfavorable

So, the total would be

= $300,000 - $253,500

= $46,500 unfavorable

This is the answer but the same would not be provided in the given options

Answer: 20

Explanation:

For us to calculate the equilibrium price, we must equate the quantity demanded with the quantity supplied. In this case, Qd = Qs where,

QD = 70 – P

QS = 2P + 10.

QD = QS

70 - P = 2P + 10

70 - 10 = 2P + P

60 = 3P

P = 60/3

P = 20

The equilibrium price is 20

Answer:

$293

Explanation:

Calculation for the amount of Don's casualty loss deduction

Using this formula

Casualty loss deduction amount=Adjusted basis -Insurance reimbursed

Let plug in the formula

Casualty loss deduction amount=$1,050- $757

Casualty loss deduction amount=$293

Therefore the amount of Don's casualty loss deduction will be $293

Answer:

Revenues Dr $364,400

Income summary Cr $364,400  

(Closing revenue accounts)

Income summary  Dr $325,500

Expenses Cr $325,500

(Closing expense accounts)

Income summary Dr $38900

Retained earnings Cr $38900

(Transferring balance in income summary to retained earnings)

Dividends Dr $18,750

Retained earnings Cr $18,750

(Closing of dividends)

Answer:

Human and physical capital; technological change; savings; investment.

Explanation:

The Gross Domestic Products (GDP) is the measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country. The Gross Domestic Products (GDP) of a country's economy gives an insight to it's social well-being, these includes;

I. Real Gross Domestic Product should be adjusted for any price level change using a price index. This simply means, it is adjusted for inflation to measure the value of goods and services produced by a country in a specific period of time.

Mathematically, [tex]{Real \; GDP} = \frac{Nominal \; GDP}{GDP \; deflator}[/tex]

Countries' real GDP per capita growth rates differ largely due to disparities in the rates at which they accumulate human and physical capital, as well as the rate of technological change. In many countries, growth has been achieved through high rates savings and investment spending.

Hence, an inflationary gap, also known as the expansionary gap in economics is used to measure the difference between the gross domestic product (GDP) and the current level of Real Gross Domestic Products that exists when a country's economy is gauged at a full employment rate.

Answer:

GDP deflator for this year is calculated by dividing the value of all goods and services produced in the economy using this year's prices by the value of all goods and services produced in the economy using the base year's prices. However, the CPI reflects only the prices of all goods and services bought by the consumers.

1. Scenario: A decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine made in the U.S. but not bought by U.S. consumers

Shows up: In the GDP Deflator not CPI

2. Scenario: An increase in the price of a Japanese-made television that is popular among U.S. consumers.

Shows up: In the CPI not GDP Deflator

Answer:

alternating periods of increasing and decreasing economic output

Explanation:

The business cycle represent the boom and recession period. At the time of boom, the company earned huge profits while at the time of recession period this situation would be reverse that leads to rise and reduction in the economic output

Therefore according to the options given, the last second option is correct as it denotes the business cycle

Answer: 20.33%

Explanation:

The probability of having the equity financing option having higher figures than debt is the probability of having EBIT lower than the indifference point of $4million. We would use the z-score to find the probability of having a lower EBIT.

z-score = indifference point - expected EBIT/ standard deviation

Which would be; 4000000-4500000/600000= -0.83.

From our table, -0.83 is 20.33%.

Answer:

The correct answer is the option C: Requiring less commitment from all parties involved in the joint venture.

Explanation:

To begin with, the name of "joint venture" in the field of business refers to the method and strategy whose process consists of incorporating two or more parties into one only form of company with the final purpose of increasing the sales of every party included in the agreement and doing that by different ways. Moreover, generally this strategy has its focus on the fact of entering a new market or acquiring new management that will come with more resources and more. So that is why that it brings a lot of advantages as stated in the case presented but absolutely not less commintment from every party involved in it.

Answer:

Explanation:

The number of fruit juice manufacturers has increased substantially in recent years.

Answer:

A. $196,600

B. $196,600

Explanation:

A. Preparation of a statement of comprehensive income using the one statement format.

SKYSONG CORPORATION Statement of Comprehensive Income For the Year Ended

Sales revenue $1,236,500

Less Cost of goods sold ($732,900)

Gross profit $503,600

($1,236,500-$732,900)

Selling and administrative expenses $331,400

Net income $172,200

($503,600-$331,400)

Add Unrealized holding gain, net of tax $24,400

Comprehensive income $196,600

($172,200+$24,400)

Therefore the statement of comprehensive income using the one statement format will be $196,600

(b) Preparation of a statement of comprehensive income using the two statement format

SKYSONG CORPORATION Income Statement and Comprehensive Income Statement For the Year Ended

Sales $1,236,500

Cost of goods sold ($732,900)

Gross profit $503,600

($1,236,500-$732,900)

Selling and administrative expenses $331,400

Net income $172,200

($503,600-$331,400)

COMPREHENSIVE INCOME

Net income $172,200

Unrealized holding gain $24,400

Comprehensive income $196,600

($172,200+$24,400)

Therefore the statement of comprehensive income using the two statement format will be $196,600

Answer:

Date          Account Detail                                    Debit                   Credit

June 1        Cash                                                $4,080

                  Common Stock                                                            $4,080

Date          Account Detail                                    Debit                   Credit

June 2       Equipment                                        $1,720

                 Accounts Payable                                                         $1,720

Date          Account Detail                                    Debit                   Credit

June  3      Rental expense                                  $910

                  Cash                                                                                $910

Date          Account Detail                                    Debit                   Credit

June 12     Accounts Receivable                         $800

                 Welding Revenue                                                           $800

I do not know You know

Answer:

1. Journal Entries:

A. Debit Materials $500,000

Credit Accounts payable $500,000

To record the purchase of materials on account.

B. Debit Work-in-Process - Spinning $275,000

Credit Materials $275,000

To record the materials requisitioned.

B. Debit Work-in-Process -Tufting $110,000

Credit Materials $110,000

To record carpet backing

B. Debit Overhead - Spinning $46,000

   Debit Overhead - Tufting $39,500

   Credit Materials $85,500

To record indirect materials used.

C. Debit Work-in-Process - Spinning $185,000

   Debit Work-in-Process - Tufting $98,000

   Credit Factory labor $283,000

To record direct labor costs.

C. Debit Overhead - Spinning $18,500

   Debit Overhead - Tufting $9,000

   Credit Factory labor $27,500

To record indirect labor costs.

D. Debit Overhead - Spinning $12,500

   Debit Overhead - Tufting $8,500

   Credit Factory Depreciation $21,000

To record depreciation costs.

E. Debit Overhead - Spinning $2,000

   Debit Overhead - Tufting $1,000

   Credit Factory Insurance $3,000

To record insurance costs.

F. Debit Work-in-Process - Spinning $80,000

   Debit Work-in-Process - Tufting $55,000

   Credit Factory Overhead $135,000

To record overhead costs applied.

G. Debit Work-in-Process - Tufting $547,000

Credit Work-in-Process - Spinning $547,000

To record the transfer to Tufting department.

H. Debit Finished Goods Inventory $807,200

Credit Work-in-Process- Tufting $807,200

To record the transfer to Finished Goods.

I. Debit Cost of Goods Sold $795,200

Credit Finished Goods $795,200

To record the cost of goods sold.

2. January 31 balances of the inventory accounts:

Finished Goods = $74,000

Work-in-Process - Spinning = $28,000

Work-in-Process - Tufting = $32,300

Materials = $46,500

3. Factory Overhead Accounts:

Overhead - Spinning:

B. Materials (Indirect)      46,000

C. Indirect labor               18,500

D. Depreciation exp.      12,500

E. Factory insurance       2,000

F. Applied overhead                    80,000

Overapplied overhead   1,000

Overhead - Tufting:

B. Materials (Indirect)      39,500

C. Indirect labor                9,000

D. Depreciation exp.        8,500

E. Insurance expense      1,000

F. Applied overhead                  55,000

Underapplied overhead             3,000

Explanation:

a) Data and Calculations:

January 1 Inventories:

Finished Goods = $62,000

Work in Process- Spinning = $35,000

Work in Process - Tufting = $28,500

Materials = $17,000

Finished Goods

Account Titles                      Debit      Credit

Beginning balance            $62,000

Work-in-Process-Tufting   807,200

Cost of Goods Sold                          $795,200

Ending balance                                     74,000

Work-in-Process - Spinning

Account Titles                   Debit      Credit

Beginning balance        $35,000

B. Materials                    275,000

C. Direct labor               185,000

F. Applied overhead      80,000

G. Work-in-Process -Tufting        $547,000

Ending balance                                28,000    

Work-in-Process - Tufting

Account Titles                   Debit      Credit

Beginning balance        $28,500

B. Carpet backing           110,000

C. Direct labor                 98,000

E. Insurance expense        1,000

F. Applied overhead      55,000

G. WIP- Spinning          547,000

H. Finished Goods                        $807,200

Ending balance                                 32,300

Cost of Goods Sold

I. Finished Goods    $795,200

Materials

Account Titles                   Debit       Credit

Beginning balance         $17,000

A. Accounts receivable  500,000

B. Work-in-Process - Spinning           $275,000

B. Work-in-Process - Spinning               46,000

B. Work-in-Process - Tufting                  39,500

B. Work-in-Process - Tufting                 110,000

Ending balance                                      46,500

Answer:

Profit (loss) from the contract = (FER2 - FER1) million yen

Explanation:

Let FER1 represents the forward exchange rates for the contracts entered into by the company on July 1, 2013, and let FER2 represents the forward exchange rates for the contracts entered into by the company on September 1, 2013.

Also, let SPOT represents the spot rate on January 1, 2014.

Since all exchange rates are measured as yen per dollar, we therefore have:

First contract profit = (SPOT - FER1) million yen

Second contract profit = (FER2 - SPOT) million yen

Profit (loss) from the contract = First contract profit + Second contract profit

Removing the million yen first and later add to the final answer, we have:

Profit (loss) from the contract = (SPOT - FER1) + (FER2 - SPOT)

Profit (loss) from the contract = SPOT - FER1 + FER2 - SPOT

Profit (loss) from the contract = (FER2 - FER1) million yen

Therefore, the profit or loss the company will make in dollars as a function of the forward exchange rates on July 1, 2013 and September 1, 2013 is Profit (loss) from the contract = (FER2 - FER1) million yen.

Answer:

Brian Consulting Engineer

1. Adjusting Entries:

a. Debit Service Revenue $5,980

Credit Unearned Fees $5,980

To record unearned fees.

b. Debit Accounts Receivable $4,558

Credit Service Revenue $4,558

To record services performed for clients.

c. Debit Bad Debt Expense $1,328

Credit Allowance for Uncollectibles $1,328

To record bad debt expense for the year.

d. Debit Insurance Expense $519

Credit Prepaid Insurance $519

To record expired insurance expense.

e. Debit Depreciation Expense- Equipment $2,690

Credit Accumulated Depreciation- Equipment $2,690

To record depreciation expense for the year.

f. Debit Interest Expense $60

Credit Interest Payable $60

To record interest expense for a month.

g. Debit Prepaid Rent $815

Credit Rent Expense $815

To record prepaid rent for January 2018.

h. Debit Salaries & Wages Expense $2,616

Credit Salaries & Wages Payable $2,616

To record accrued salaries and wages.

i. Debit Drawings $16,090

Credit Cash $16,090

To record drawing for personal use.

2. Income Statement for the year ended December 31, 2017:

Service Revenue                               $115,808

Depreciation Expense-

 Equipment                      2,690

Rent Expense                   9,780

Bad Debt Expense           1,328

Salaries and

Wages Expense             37,316

Utilities Expense               1,720

Office Expense                  620

Interest Expense                 60

Insurance Expense            519

Suspense                        3,879     $57,912

Net Income                                   $57,896

3. Classified Balance Sheet as of the year ended December 31, 2017:

Assets

Current Assets:

Cash                                                   $13,410

Accounts Receivable        60,758

Allowance for

 Doubtful Accounts           2,082     58,676

Supplies                                               2,370

Prepaid Insurance                                 1,191

Prepaid Rent                                           815    $76,462

Long-term Assets:

Equipment                         26,900

Accumulated Depreciation 8,922                  $17,978

Total assets                                                    $94,440

Liabilities + Equity

Liabilities:

Notes Payable                                         7,200

Salaries & Wages Payable                      2,616

Interest Payable                                           60

Unearned Fees                                      5,980 $15,856

Owner’s Capital                     36,778

Drawings                               (16,090)

Net Income                            57,896               $78,584

Total Liabilities + Equity                                   $94,440

4. Statement of Owner's Equity as of the year ended December 31, 2017:

Owner’s Capital                   $36,778

Drawings                               (16,090)

Net Income                            57,896

Owner's Capital, ending      $78,584

Explanation:

a) Data and Calculations:

BRIAN CONSULTING ENGINEER

TRIAL BALANCE

DECEMBER 31, 2020

                                            Debit         Credit

Cash                                $29,500

Accounts Receivable        56,200

Allowance for Doubtful Accounts            $754

Supplies                               2,370

Prepaid Insurance                1,710

Equipment                       26,900

Accumulated Depreciation-Equipment 6,232

Notes Payable                                         7,200

Owner’s Capital                                    36,778

Service Revenue                                  117,230

Rent Expense

(13 months of rent)         10,595

Salaries and

Wages Expense            34,700

Utilities Expense               1,720

Office Expense                  620

Totals                        $????

Adjusted Trial Balance

                                            Debit         Credit

Cash                                  $13,410

Accounts Receivable        60,758

Allowance for Doubtful Accounts        $2,082

Supplies                               2,370

Prepaid Insurance                 1,191

Prepaid Rent                           815

Equipment                       26,900

Accumulated Depreciation-Equipment 8,922

Notes Payable                                         7,200

Salaries & Wages Payable                      2,616

Interest Payable                                           60

Owner’s Capital                                    36,778

Drawings                          16,090

Service Revenue                                 115,808

Unearned Fees                                      5,980

Depreciation Expense-

 Equipment                      2,690

Rent Expense                   9,780

Bad Debt Expense           1,328

Salaries and

Wages Expense             37,316

Utilities Expense               1,720

Office Expense                  620

Interest Expense                 60

Insurance Expense            519

Suspense                        3,879

Totals                        $179,446        $179,446

Answer:

x = 4

Explanation:

1. 11x + 3 = 3x+ 35

2. -3x -3    -3x -3

----------------------------

3. 8x = 32

divide 8 from both sides of the equal sign

4. x = 4

Hope that helps

Answer:

11x-3x=35-3

8x=32

x=32:8