Tommy is from a small town and quit high school to get married. He and his wife have five kids, and his wife stays home with the children. Tommy is a hard worker and strives to provide for his family, although his skills are limited. Tommy has been a butcher for his entire career. He has been with his present company, a large retail grocer, for the past six years performing the same job. There are twelve people in the meat department, and each one specializes in cutting certain types of meat. Tommy's job is to cut ribeye steaks. Cutting ribeye steaks is very precise and requires holding and using a knife in the same way every day. This requirement has started to cause Tommy pain in his right hand. Although Tommy still likes his work, he is getting a little bored of the repetition and is bothered by the pain.

The quality of Tommy’s work has not suffered, but the store managers can tell that he is getting bored. What could they do to keep him better engaged?

a. Purchase special ergonomic mats to help with the pain associated with standing on the hard floor every day.
b. Motivate Tommy by giving him feedback about how skilled he is in cutting ribeye and explain that customers visit the store for his custom steaks.
c. Offer Tommy more money because he is so good at cutting meat.
d. Cross train the employees in the meat department, so beef cutters can learn how to cut pork and vice versa.
e. Administer a work personality quiz to Tommy to see if there is another area in the store where he could move to, such as the produce department.

Answers

Answer 1

Answer: d. Cross train the employees in the meat department, so beef cutters can learn how to cut pork and vice versa.

Explanation:

Since the quality of Tommy’s work has not suffered, but the store managers can tell that he is getting bored, the thing that could be done to keep him better engaged is to cross train the employees in the meat department, so beef cutters can learn how to cut pork and vice versa. Cross training helps the workers in the company appreciate the workers of others in other department and shows workers flexibility.


Related Questions

Suppose you are a manager for a multinational company that produces a variety of beauty products. Heartland Company was founded in 1942 and began making shampoo and soap products. Heartland, headquartered in St. Louis, Missouri, now sells hair care, soap, and makeup products in 22 countries across the globe. Heartland holds the majority market share in the U.S. and is largely regarded as a trend-leader in hair and beauty products. As the Global Brand Vice President, you have been tasked with taking the brand to Brazil, considered to be a large cosmetics market in the next few years. The Brazilian cosmetics and hair care market is largely dominated by Belleza who currently holds a 60% market share. Belleza is marketed toward young, fashion-forward women. The second largest company, Botánico, holds just a 20% share of the market. Your research suggests that while Botánico has efficient manufacturing and distribution, young consumers see them as being a brand for their mothers and grandmothers.

Given the information above, what is the best market entry strategy for this company?

a. Partnership
b. Exporting
c. Outsourcing

Answers

Answer:

a. Partnership

Explanation:

Brazil is a market that can be tricky if exporting is used. Botanico is struggling at 2nd position with only 20% share but are efficient in manufacturing and distribution which can be utilized by Heartland. Heartland is known as trend setter which is something Botanica lacks currently to woo the young women and girls into buying their products A partnership would simply result that competitive edges of both the parties can be employed together to win over the market.

Mindy Novak is writing a paper and he must determine which of Porter's three generic strategies Beulah’s Boutiques has implemented. Mindy finds out that Beulah’s Boutiques offers specialty products found only in boutiques around the world to affluent customers. What would Mindy determine Beulah’s Boutiques is using as its generic strategy?

Answers

Answer:

The answer to this question can be defined as follows:

Explanation:

Mindy Novak writes a report, also determines, whether Beulah's boutiques have adopted Porter's three generic techniques. Mindy discovers Beulah's Boutiques only offer affluent clients premium brands in shops throughout the world, and he determines Mindy, that standard strategy of the boutiques of Beulah, which canister be defined as follows:  

High expense, to the broad market  Low cost, a narrow market.  Low-cost, wide market  High cost, narrow market  High cost, narrow market

Harnett Corporation has two manufacturing departments--Molding and Assembly. The company used the following data at the beginning of the period to calculate predetermined overhead rates:

Molding Assembly Total
Estimated total machine-hours (MHs) 3,000 7,000 10,000
Estimated total fixed manufacturing overhead cost $24,000 $53,200 $77,200
Estimated variable manufacturing overhead cost per MH $1.00 $2.00

During the period, the company started and completed two jobs--Job E and Job M. Data concerning those two jobs follow:

Job E Job M
Direct materials $21,600 $9,300
Direct labor cost $22,600 $9,500
Molding machine-hours 2,500 500
Assembly machine-hours 2,500 4,500

Required:
a. Assume that the company uses a plant-wide predetermined manufacturing overhead rate based on machine-hours. Calculate that overhead rate, (Round your answer to 2 decimal places.)
b. Assume that the company uses a plant-wide predetermined manufacturing overhead rate based on machine-hours. Calculate the amount of manufacturing overhead applied to Job E. (Do not round intermediate calculations.)
c. Assume that the company uses a plant-wide predetermined manufacturing overhead rate based on machine-hours. Calculate the total manufacturing cost assigned to Job E. (Do not round intermediate calculations.)
d. Assume that the company uses a plant-wide predetermined manufacturing overhead rate based on machine-hours and uses a markup of 20% on manufacturing cost to establish se ling prices. Calculate the selling price for Job E. (Do not round intermediate
calculations.)
e. Assume that the company uses departmental predetermined overhead rates with machine-hours as the allocation base in both departments. What is the departmental predetermined overhead rate in the Molding department? (Round your answer to 2 decimal places.)
f. Assume that the company uses departmental predetermined overhead rates with machine-hours as the a location base in both production departments. What is the departmental predetermined overhead rate in the Assembly department? (Round your answer to

Answers

Answer:

Results are below.

Explanation:

a) To calculate the predetermined manufacturing overhead rate we need to use the following formula:

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

Predetermined manufacturing overhead rate= (77,200 + 3,000 + 14,000) / 10,000

Predetermined manufacturing overhead rate= $9.42 per machine hour

b) To allocate overhead, we need to use the following formula:

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

Job E:

Allocated MOH= 5,000*9.42

Allocated MOH= $23,550

c) Total cost= 21,600 + 22,600 + 47,100

Total cost= $91,300

d) Selling price= 91,300*1.2= $109,560

e) Predetermined manufacturing overhead rate= (24,000/3,000) + 1

Predetermined manufacturing overhead rate= $9 per machine hour

f) Predetermined manufacturing overhead rate= (53,200/7,000) + 2

Predetermined manufacturing overhead rate= $9.6 per machine hour

Case Inc. is a construction company specializing in custom patios. The patios are constructed of concrete, brick, fiberglass, and lumber, depending upon customer preference. On June 1, 2017, the general ledger for Case Inc. contains the following data.

Raw Materials Inventory $4,200 Manufacturing Overhead Applied $32,640

Work in Process Inventory $5,540 Manufacturing Overhead Incurred $31,650

Subsidiary data for Work in Process Inventory on June 1 are as follows.

Job Cost Sheets

Customer Job

Cost Element Rodgers Stevens Linton

Direct materials $600 $800 $900

Direct labor 320 540 580

Manufacturing overhead 400 675 725

$1,320 $2,015 $2,205

During June, raw materials purchased on account were $4,900, and all wages were paid. Additional overhead costs consisted of depreciation on equipment $900 and miscellaneous costs of $400 incurred on account.

A summary of materials requisition slips and time tickets for June shows the following.

Customer Job Materials Requisition Slips Time Tickets

Rodgers $800 $850

Koss 2,000 800

Stevens 500 360

Linton 1,300 1,200

Rodgers 300 390

4,900 3,600

General use 1,500 1,200

$6,400 $4,800

Overhead was charged to jobs at the same rate of $1.25 per dollar of direct labor cost. The patios for customers Rodgers, Stevens, and Linton were completed during June and sold for a total of $18,900. Each customer paid in full.

Instructions

Journalize the June transactions: (1) for purchase of raw materials, factory labor costs incurred, and manufacturing overhead cost incurred; (2) assignment of direct materials, labor, and overhead to production; and (3) completion of jobs and sale of goods.
Post the entries to Work in Process Inventory.
Reconcile the balance in Work in Process Inventory with the costs of unfinished jobs.
Prepare a cost of goods manufactured schedule for June.

Answers

Answer and Explanation:

Please find answer and explanation attached

Which are possible employers in the Financial career cluster? Check ALL that apply.

A. private company
B. government
C. nonprofit organization
D. bank
E. stock market

Answers

The correct option is B and D.

What is the Finance Career Cluster?

The Finance Career Cluster prepares students for careers in financial and investment planning, banking, insurance, and business financial management. Finance career opportunities are available in every sector of the economy and require skills in organization, time management, customer service, and communication.

What are the four career pathways in finance?

The four career pathways in the finance cluster are banking and related services, business financial management, financial and investment planning, and insurance services.

Learn more about finance here https://brainly.com/question/1279044

#SPJ2

what will you use for banca/boat to move​

Answers

Answer:

a paddle

Explanation:

Using a "paddle" is very important in order to move/propel a boat. Paddling creates a force which goes against the water. This force is faced by an opposite force that is equal and that which allows the boat to move forward.

So as you push the water asides, the boat accelerates. Such technique is deemed efficient when using the boat. Not following the proper technique will not move the boat.

Seiko’s current salary is $85,000. Her marginal tax rate is 32 percent and she fancies European sports cars. She purchases a new auto each year. Seiko is currently a manager for an Idaho Office Supply. Her friend, knowing of her interest in sports cars, tells her about a manager position at the local BMW and Porsche dealer. The new position pays only $75,000 per year, but it allows employees to purchase one new car per year at a discount of $15,000. This discount qualifies as a nontaxable fringe benefit. In an effort to keep Seiko as an employee, Idaho Office Supply offers her a $10,000 raise. Answer the following questions about this analysis.
Problem 12-41
Part a a. Assuming it has a 21 percent marginal tax rate, what is the annual after-tax cost to Idaho Office Supply to provide Seiko with the $10,000 increase in salary?

Answers

Answer:

$7,900

Explanation:

Given that:

Assuming a marginal tax rate of 21%

Salary Raise = $10000

Annual after-tax cost to Idaho :

Salary raise ( 1 - marginal tax rate)

$10000 ( 1 - 21%)

$10000( 1 - 0.21)

$10000 - $2100

= $7,900

Fort Corporation had the following transactions during its first month of operations: 1. Purchased raw materials on account, $85,000. 2. Raw Materials of $30,000 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,000 was classified as indirect materials. 3. Factory labor costs incurred were $175,000 of which $145,000 pertained to factory wages payable and $30,000 pertained to employer payroll taxes payable. 4. Time tickets indicated that $145,000 was direct labor and $30,000 was indirect labor. 5. Overhead costs incurred on account were $198,000. 6. Manufacturing overhead was applied at the rate of 150% of direct labor cost. 7. Goods costing $115,000 are still incomplete at the end of the month; the other goods were completed and transferred to finished goods. 8. Finished goods costing $100,000 to manufacture were sold on account for $130,000.

Answers

Answer:

Follows are the solution to this question:

Explanation:

Services             Names and descriptions of the accounts           Dr.            Cr.

1                                  Stock of raw resources                            85000

                                    Cash-able Accounts                                             85000

2                         Stock of processes (30000-6000)                  24000

                                 Overhead of development                        6000

                                  Stock of raw materials                                          30000

3                              employment manufacturer                       175000

                               manufacturing plant wages                                    145000

                                      Payroll Taxes                                                      30000

4                               Inventory job in process                         145000

                                  Overhead production                             30000

                                          Labor Plant                                                    175000

5                                  Overhead production                          198000

                                     Cash-able Accounts                                          198000

6                           Inventory of jobs in the process              217500

                                     [tex](145000 \times 150 \%)[/tex]  

                               Overhead of development                                     217500

7                               Inventory of finished products             271500

                                  Inventory job in process                                      271500

                                [tex](24000+145000+217500-115000)[/tex]

8                                      receivable Account                            130000

                                                  Sales                                                       130000

                                     Wars sold at discount                         100000

                               Inventory of finished products                              100000

With respect to dividends and priority in liquidation, what has priority over common stock? Group of answer choices Treasury Stock Debt Capital Preferred Stock nonconvertible common equity

Answers

Answer:

Preferred stock

Explanation:

Preferred stock is a stock that has properties of both stocks and bonds. this is why they are referred to as an hybrid instrument.  Preferred stock holders have priority over common shareholders with respect to dividends and liquidation,

Suppose that France and Austria both produce rye and wine. France's opportunity cost of producing a bottle of wine is 4 bushels of rye while Austria's opportunity cost of producing a bottle of wine is 10 bushels of rye. By comparing the opportunity cost of producing wine in the two countries, you can tell that __________ has a comparative advantage in the production of wine and __________has a comparative advantage in the production of rye.


Suppose that France and Austria consider trading wine and rye with each other. France can gain from specialization and trade as long as it receives more than __________of rye for each bottle of wine it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than __________of wine for each bushel of rye it exports to France.

Based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of rye) would allow both Austria and France to gain from trade?

a. 7 bushels of rye per bottle of wine
b. 4 bushels of rye per bottle of wine
c. 1 bushel of rye per bottle of wine
d. 11 bushels of rye per bottle of wine

Answers

Answer:

France has comparative advantage in production of wine

Austria has comparative advantage in production of rye.

4 bushels of rye for each bottle of wine

1 bottle of wine for each bushel.

b. 4 bushel of rye per bottle of wine.

Explanation:

France has comparative advantage in producing wine as it has opportunity cost of 4 bushels per bottle of wine. Austria has comparative advantage in producing bushels as it has opportunity cost of 10 bushels per bottle of wine. The both countries can gain advantage if they agree for 4 bushels per wine.

What is considered revenue recognition?

Answers

Answer:

revenue is recognized and determines how to account for it. Typically, revenue is recognized when a critical event has occurred, and the dollar amount is easily measurable to the company

Explanation:

examples:Sales Basis Method. With the sales basis revenue recognition methods, revenue is recorded at the time of sale.

Percentage of Completion Method

Completed Contract Method

A group of 10 pineapple pickers can pick 240 pineapples in an hour. When one more pineapple picker is added to the group, they can pick 270 pineapples in an hour. Calculate the marginal product of the 11th pineapple picker.

Answers

Answer:

30 pineapples

Explanation:

The computation of the marginal product of the 11th pineapple picker is shown below:

= 11 pineapple - 10 pineapple

= 270 pineapples - 240 pineapples

= 30 pineapples

Hence, the marginal product of the 11th pineapple picker is 30 pineapples

We simply applied the above formula so that the correct value could come

Assume Merck (MRK) just announced that its next dividend will be $2, paid one year from now (you just missed the prior annual dividend). You expect the dividend will grow (after the $2 dividend) by 3% per year forever. Your required return is 10%. What are you willing to pay for a share of Merck stock

Answers

Answer:

$28.57

Explanation:

Current price = D1/(Required return-Growth rate)

D1 (Next dividend) = $2

Required return = 10% = 0.1

Growth rate = 3% = 0.03

Current price = $2/(0.1-0.03)

Current price = $2 / 0.07

Current price = $28.57143

Current price = $28.57

Hence, i will be willing to pay $28.57 for a share of Merck stock.

Consider the following story:
Woody loves bowling, and he also loves Beth.
Woody does not particularly like the beach.
The best outcome for Woody is to be at the bowling alley with Beth.
Given the choice of going bowling alone or being at the beach with Beth, Woody would choose to be with Beth.
The worst outcome for Woody is to be at the beach alone.
Beth loves the beach, and she also loves Woody.
Beth does not particularly like bowling.
The best outcome for Beth is to be at the beach with Woody.
Given the choice of going to the beach alone or bowling with Woody, Beth would choose to be with Woody.
The worst outcome for Beth is to be at the bowling alley alone. Woody and Beth plan to meet after work, but each has forgotten where. Suppose the following payoff matrix tells the story, given Woody and Beth's preferences above.
Complete the matrix by filling in the missing payoffs. (Enter your responses as integers.)
Beth
Bowling Beach
Woody Bowling
Beach
a. Find all Nash equilibria in this game, if any.
b. Is this game an archetype? If yes, identify the archetype and explain your selection.

Answers

Answer:

a. Both beth and Woody are comfortable at their own preferences and feel dominant in their own strategy.

The outcome to meet somewhere will be either the bowling alley or the beach, any one of Beth and Woody will dominate, however both's priority is to stay together which is fulfilled in both the scenarios.

Explanation:

a. Both beth and Woody are comfortable at their own preferences and feel dominant in their own strategy.

The outcome to meet somewhere will be either the bowling alley or the beach, any one of Beth and Woody will dominate, however both's priority is to stay together which is fulfilled in both the scenarios.

Etxuck327 Inc. sells a particular textbook for $39. Variable expenses are $28 per book. At the current volume of 49,000 books sold per year the company is just breaking even. Given these data, the annual fixed expenses associated with the textbook total:

Answers

Answer:

539,000.00  

Explanation:

As per the contribution margin analysis concept, the break-even point is obtained by dividing fixed cost by contribution margin per unit.

For Etuck327,

The selling price is $39

Variable expense is $28

Break-even in units is 49,000 books.

Contribution margin per unit = selling price - variable costs

=$39- $28

=$11

if Break-even = fixed cost/ contribution margin per unit, then

49,000= fixed cost / 11

fixed costs = 11 x 49000

Fixed costs = 539,000.00    

                   

Pitbull Construction Corporation applies IFRS, has equipment that it can reliably measure fair value of, and has chosen to apply the revaluation model to valuing this equipment on its accounting records. The carrying value of this equipment on Pitbull's books at the end of last year, December 31, 20X1, was $200,000. At the end of this year, December 31, 20X2, due to decreased demand for the equipment, especially when resold as used, the fair value is $150,000. For the year 20X2, in relation to this equipment for which Pitbull has chosen to apply the revaluation method, Pitbull must:_________

Answers

Answer and Explanation:

If there is decrease in fair value of an asset as is seen in the example with Pitbull corporation, we decrease asset revaluation reserve in the balance sheet by the value reduced $50000 here to recognise new carrying value of the asset and then debit the expenses of revaluation to the income statement or profit and loss account. If there was an increase in fair value, revaluation would add to retained earnings in balance sheet and income in income statement

31. Which one is not the barriers of Enterpreneurship:
(A) Lack of technical skills
(B) Political instability
(C) Technical knowledge
(D) Time pressure and distractions​

Answers

Answer:

d

Explanation:

I think so, I'm not sure

Analyzing Unearned Revenue Disclosures
The following disclosures (excerpted) are from the August 28, 2016, annual report of Costco Wholesale Corporation.
Revenue Recognition: We generally recognize sales, net of estimated returns, at the time the member takes possession of merchandise or receives services. When we collect payment from customers prior to the transfer of ownership of merchandise or the performance of services, the amount recieved is generally recorded as deferred revenue on the consolidated balance sheets until the sales or service is completed. Membership fee revenue represents annual membership fees paid by our memberships. We account for membership fee revenue, net of estimated refunds, on a deferred basis, whereby revenue is recognized ratably over the one-year membership period.
Revenue
($ millions) August 28, 2016 August 30, 2015 August 31, 2014
Net Sales $116,073 $113,666 $110,212
Membership fees 2,646 2,533 2,428
Total revenue $118,719 $116,199 $112,640
Current Liabilities ($ millions) August 28, 2016 August 30, 2015
Accounts payable $7,612 $9,011
Current portion of long-term debt 1,100 1,283
Accrued salaries and benefits 2,629 2,468
Accured member rewards 869 813
Deferred membership fees 1,362 1,269
Other current liabilities 2,003 1,695
Total current liabilities $15,575 $16,539
(a) Which of the following statements best explains in layman terms how Costco accounts for the cash received for its membership fees?
Because Costco does not know how many of its members will continue to the end of the year, cash received from members is recorded as a liability and recognized as revenue only at year-end.
When it receives cash, the company records it as a current liability. Then, it recognizes revenue evenly over the year.
The company records revenue when the cash is received.
Because Costco has a refund policy, the company records revenue when the cash is received, less an allowance for expected membership terminations.
Mark 1.00 out of 1.00
(b) Use the balance sheet information on Costco's Deferred Membership Fees liability account and its income statement revenues related to Membership Fees earned during 2016 to compute the cash that Costco received during 2016 for membership fees.
Total cash received (in $ millions) = $Answer
(c) Use the financial statement effects template to show the effect of the cash Costco received during 2016 for membership fees and the recognition of membership fees revenue for 2016.
Use negative signs with answers, when appropriate.
Balance Sheet
Transaction ($ millions)
Cash Asset + Noncash Assets = Liabilities + Contributed Capital + Earned Capital
Receive cash in advance for membership fees Answer Answer Answer Answer Answer
Recognized membership fees earned Answer Answer Answer Answer Answer
Income Statement
Revenue - Expenses = Net Income
Answer Answer Answer
Answer Answer Answer
Feedback
You have correctly selected 15.
Partially correct
Marks for this submission: 15.00/18.00.

Answers

oh god its too long!!

Your company assembles five different models of a motor scooter that is sold in specialty stores in the United States. The company uses the same engine for all five models. You have been given the assignment of choosing a supplier for these engines for the coming year. Due to the size of your warehouse and other administrative restrictions, you must order the engines in lot sizes of 1,000 units. Because of the unique characteristics of the engine, special tooling is needed during the manufacturing process for which you agree to reimburse the supplier. Your assistant has obtained quotes from two reliable engine suppliers and you need to decide which to use. The following data have been collected:

Requirements (annual forecast) 12,000 units
Weight per engine 22 pounds
Order processing cost $125 per order
Inventory carry cost 20 percent of the average value of inventory per year

Assume that half of lot size is in inventory on average (1,000/2 = 500 units).

Two qualified suppliers have submitted the following quotations:

ORDER QUANTITY SUPPLIER 1 UNIT PRICE SUPPLIER 2 UNIT PRICE
1 to 1,499 units/order $510.00 $505.00
1,500 to 2,999 units/order 500.00 505.00
3,000 + units/order 490.00 488.00
Tooling costs $22,000 $20,000
Distance 125 miles 100 miles

Your assistant has obtained the following freight rates from your carrier:

Truckload (40.000 lbs. each load): $0.80 per ton-mile
Less-than-truckload: $1.20 per ton-mile

Required:
a. Calculate the total cost for each supplier.
b. Which supplier would you select?
c. If you could move the lot size up to ship in truckload quantities, calculate the total cost for each supplier.
d. Would your supplier selection change?

Answers

Answer:

a. Cost of Supplier 1  : $6,214,300 per year

Cost of Supplier 2 : $6,147,840

b. Supplier 2 will be selected as it costs $66,460 less than supplier 1.

c. 1,818

d. No.

Explanation:

Supplier :     1   ;    2

Unit price : $510 ; $505

Annual Purchase cost: $6,120,000 ; $6,060,000

One time cost: $22,000 ; $20,000

Orders per year: 12 , 12

Order processing cost: $1,500 ; $1,500

Inventory carrying cost: $51,000 ; $50,500

Distance: 125 ; 100

Weight per load: 22000

Transportation: $19,800 ; $15,840

Total Cost : $6,214,300 ; $6,147,840

Annual Purchase Cost = Demand * Units price

Orders per year = Demand / Lot size

Inventory Carrying cost = [ Lot size / 2 ] * Carrying cost * unit price

Order processing cost = Number of orders * order processing cost.

c. Required lot size for truck : 40,000 / 22 ≈ 1,818

________ is used to make purchases while ________ is the total collection of pieces of property that serve to store value.

Answers

Answer:

Money; wealth.

Explanation:

Money can be defined as any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

Basically, money is a currency used for the purchase of goods and services such as food, clothes, perfume, shoes, automobile etc.

Hence, money is used to make purchases while wealth is the total collection of pieces of property that serve to store value. This simply means, wealth refers to the total or overall assets that is being owned by an individual or organization at a specific period of time.

Admitting New Partner Who Contributes Assets After the tangible assets have been adjusted to current market prices, the capital accounts of Brad Paulson and Drew Webster have balances of $45,000 and $60,000, respectively. Austin Neel is to be admitted to the partnership, contributing $30,000 cash to the partnership, for which he is to receive an ownership equity of $35,000. All partners share equally in income.

Required:
a. Journalize the entry to record the admission of Neel, who is to receive a bonus of $5,000.
b. What are the capital balances of each partner after the admission of the new partner?
c. Why are tangible assets adjusted to current market prices prior to admitting a new partner?

Answers

Answer:

a. Journal Entry to record admission of Neil

Date       Account Title and Explanation      Debit     Credit

31-Dec    Cash  Account                              $30,000

               Brad Paulson capital Account     $2,500

               ($5000/2)

               Drew Webster Capital                   $2,500

                ($5000/2)

                       To Austin Neel capital A/c                     $35,000        

b. Capital account balances after admission of new partner

Date       Account Title and Explanation        Debit        Credit

               Brad paulson capital Account         $42,500

               ($45000-$2500)  

                Drew Webster Capital Account      $57,500

                ($60000-$2500)  

                        To Austin Neel capital Account                $35,000

c. Tangible assets should be adjusted to current market prices so that the new partner does not share in any gains or losses from changes in market prices prior to being admitted.

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies manufacturing overhead cost to products on the basis of machine-hours. The predetermined overhead rate was based on a cost formula that estimates $900,000 of total manufacturing overhead for an estimated activity level of 75,000 machine-hours.

During the year, a large quantity of furniture on the market resulted in cutting back production and a buildup of furniture in the company’s warehouse. The company’s cost records revealed the following actual cost and operating data for the year:


Machine-hours 76,000
Manufacturing overhead cost $637,000
Inventories at year-end:
Raw materials $20,000
Work in process (includes overhead applied of $36,480) $115,800
Finished goods (includes overhead applied of $91,200) $289,500
Cost of goods sold (includes overhead applied of $480,320) $1,524,700

Required:

a. Compute the underapplied or overapplied overhead.
b. Assume that the company closes any underapplied or overapplied overhead to Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
c. Assume that the company allocates any underapplied or over appliedoverhead proportionally to Work in Process, Finished Goods, and Cost of Goods Sold. Prepare the appropriate journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
d. How much higher or lower will net operating income be if the underapplied or overapplied overhead is allocated to Work in Process, Finished Goods, and Cost of Goods Sold rather than being closed to Cost of Goods Sold?

Answers

Answer:

Please solution below

Explanation:

a. Compute the under applied or over applied overhead

First, we need to determine the predetermined overhead rate.

Predetermined overhead rate = Estimated total manufacturing overhead / Estimated total machine hours

= $900,000 / 75,000 hours

= $12.0 per hour

But;

Actual manufacturing overhead = $637,000

Manufacturing overhead applied to work in process during the year = 76,000 actual MHs × $12.00 per MH $912,000

Over applied overhead cost = $275,000

b. Journal entry

Cost of goods sold Dr $275,000

To Manufacturing over head applied Cr $275,000

c. The over applied over head would be allocated using the following percentages;

Overhead applied during the year ;

Work in process = $36,480. 6%

Finished goods = $91,200. 15%

Cost of goods sold = $480,320 79%

Total = $608,000 100%

The entry to record the allocation of the overhead applied would be ;

Work in process [6% × $275,000] = $16,500

Finished goods [15% × $275,000] = $41,250

Cost of goods sold [79% × $275,000] = $217,250

d. Comparing the two method;

Cost of goods sold if the over applied overhead is closed to the cost of goods sold [$1,524,700 + $275,000] = $1,799,700

Cost of goods sold if the overhead applied is closed to work in process, finished goods, and cost of goods sold = [$1,524,700 + $217,250] =

$1,741,950

Difference in cost of goods sold = $57,750

Assume the bonds below have the same term and principal and that the state or local government that issues the municipal bond has a good credit rating. Which list has bonds correctly ordered from the one that pays the highest interest rate to the one that pays the lowest interest rate

Answers

Answer:

b. corporate bond, U.S. government bond, municipal bond

Explanation:

If we assume that the bonds have the similar time period and the principal amount so the bond that pays the highest interest to the bond that pays the lowest interest rate is described below:

The ranking can be done

Corporate bond - highest interest rates

Municipal bonds - lowest interest rates

The same is to be considered

Therefore the option b is correct

A worker has two jobs, and they can choose to work any number of hours in a day on each job (up to the upper limit, if any), but can only work on one job at a time. The first job pays $10 per hour and has an upper limit of 6 hours per day. The second job pays $6 per hour and has no upper limit (for example, fixed-contract online freelance work). The worker will always choose the first job if they can. Consider their budget constraint with the amount of daily leisure time on the horizontal axis (from 0 to 24 hours) and their consumption expenditure on the vertical axis (which equals their daily income). Based on this information, which of the following is correct?

a. The workers budget constraint is kinked at 6 hours of free time.
b. The worker will never choose to consume exactly 18 hours of free time.
c. The slope of the budget constraint is -6 when the hours of free time is small, and 10 when the hours of free time is large.
d. For the choice of 8 hours of free time, the maximum expenditure for the day is 96

Answers

Answer:

The slope of the Budget constraint is -6 when the hours of free time is small, and 10 when the hours of free time is large ( C )

Explanation:

The slope of the Budget constraint is -6 when the hours of free time is small, and 10 when the hours of free time is large

This is right, because  whenever the hours of free time is small, This means that he will be under the second job that pays $6 per hour, with no upper limit on work hours, hence he will work more & enjoy less free time.

Hence the slope of BC = 6

BensonBenson​ & Company is an architectural firm specializing in home remodeling for private clients and new office buildings for corporate clients. charges customers at a billing rate equal to ​% of the​ client's total job cost. A​ client's total job cost is a combination of​ (1) professional time spent on the client ​( per hour cost of employing each​ professional) and​ (2) operating overhead allocated to the​ client's job. allocates operating overhead to jobs based on professional hours spent on the job. estimates its five professionals will incur a total of​ 10,000 professional hours working on client jobs during the year.

AllissaAllissa LarsonLarson hired BensonBenson to design her kitchen remodeling. A total of 35 professional hours were incurred on this job. In​ addition, LarsonLarson​'s remodeling job required one of the professionals to travel back and forth to her house for a total of 155 miles. The blueprints had to be copied four times because LarsonLarson changed the plans several times. In​ addition, 14 hours of secretarial time were used lining up the subcontractors for the job.

All operating costs other than professional salaries​ (travel reimbursements, copy​ costs, secretarial​ salaries, office​ lease, and so​forth) can be assigned to the three activities. Total activity​ costs, cost​ drivers, and total usage of those cost drivers are estimated as​ follows:


Activity Total Activity Cost Cost Driver Usage Total Usage by Corporate Clients Total usage by Private Clients


Transporation to clients. . . . . . $9,000 Round-trip mileage to clients. . . . . 1,500 miles 13,500 miles
Blueprint copying. . . . . . . . . . . 35,000 Number of copies. . . . . . . . . . . . 250 copies 750 copies
Office support. . . . . . . . . . . . . . 190,000 Secretarial time. . . . . . . . . . . . . . . 2,600 secretarial 2,400 secretarial
hours hours
Total operating overhead. . . . $234,000

Required:
a. Calculate the current indirect cost allocation rate per professional hour.
b. Calculate the total amount that would be billed to LarsonLarson given the current costing structure.
c. Calculate the activity cost allocation rates that could be used to allocate operating overhead costs to client jobs.
d. Calculate the amount that would be billed to LarsonLarson using ABC costing.
e. Which type of billing system is more fair to​ clients? Explain.

Answers

Answer:

Benson & Company

a. Current indirect cost allocation rate per professional hour = Total overhead divided by 10,000 professional hours

$234,000/10,000

= $23.40

b. Total amount that would be billed to Larson with the current costing structure:

= $23.40 * 35

= $819.00

c. Overhead Rates based on ABC:

Transport to clients  = $0.60 ($9,000/15,000)

Blueprint copying =   $35.00 ($35,000/1,000)

Office support =        $38.00 ($190,000/5,000)

d. Larson's Job based on ABC:

Transport to clients  = $93 ($0.60 * 155)

Blueprint copying =      140 ($35.00 * 4)

Office support =          532 ($38.00 * 14)

                 Total       $765

e. With Benson Company using ABC billing system to charge Larson, the system is fairer to clients generally, because it takes into consideration the volume of each activity consumed per client. Customers are charged based on actual activities consumed, and not based on some arbitrary figures.  It is more reflective of the cost structure of the business and offers the best quality service to customers because price is determined by volume of activities.

Explanation:

a) Data and Calculations:

Professional hours spent on Larson job = 35 hours

Travel = 155 miles

Blueprints copies = 4

Secretarial time = 14 hours

Other operating costs:

Activity           Total Activity  Cost Driver  Total Usage by    Total Usage by

                             Cost             Usage    Corporate Clients    Private Clients      

Transportation                 Round-trip mileage

to clients           $9,000    to clients                1,500 miles      13,500 miles

Blueprint

 copying           35,000   Number of copies   250 copies        750 copies

Office support  190,000  Secretarial time       2,600 secretarial 2,400 secretarial  hours hours

Total operating overhead   $234,000

Estimated professional hours = 10,000

Overhead Rate = $23.40

Larson's Job:

Overhead cost = $23.40 * 35 = $819.00

Overhead Rates based on ABC:   Larson's Job

Transport to clients  = $0.60          $93 ($0.60 * 155)

Blueprint copying =   $35.00           140 ($35.00 * 4)

Office support =        $38.00          532 ($38.00 * 14)

                                      Total        $765

Pharoah Inc. has decided to raise additional capital by issuing $173,000 facevalue of bonds with a coupon rate of 6%. In discussions with investment bankers, it was determined that to help the sale of thebonds, detachable stock warrants should be issued at the rate of one warrant for each $100 bond sold. The value of the bondswithout the warrants is considered to be $155,700, and the value of the warrants in the market is $20,760. The bonds sold in the market at issuance for $174,600.
A. What entry should be made at the time of the issuance of the bonds and warrants?
B. Prepare the entry if the warrants were non-detachable.

Answers

Answer:

a.                                               Debit         Credit

Cash                                       $174,600

Discount on bond payable   $18,941

        Bonds Payable                                  $173,000

        Paid -in Capital - Stock Warrants    $20,541

Workings

Market value of Bonds        155,700

Market value of Warrants    20,760

Total market value               176,460

Value assigned to Bonds = 174,600 / 176,460 * 155,700 = 154,059

Value assigned to Warrants = 174,600 / 176,460 *20,760 = 20,541

b.                                              Debit       Credit

Cash                                        $174,600

Discount receivable                                 $1,600

         Bonds Payable                                $173,000

1. Stockholders invest $90,000 cash to start the business.
2. Purchased three digital copy machines for $400,000, paying $118,000 cash and signing a 5-year, 6% note for the remainder.
3. Purchased $5,500 paper supplies on credit.
4. Cash received for photocopy services amounted to $8,400.
5. Paid $500 cash for radio advertising.
6. Paid $800 on account for paper supplies purchased in transaction 3.
7. Dividends of $1,600 were paid to stockholders.
8. Paid $1,200 cash for rent for the current month.
9. Received $2,200 cash advance from a customer for future copying.
10. Billed a customer for $500 for photocopy services completed.
No. Account Titles and Descriptions Debit Credit
1.
2.
3.
4.
5.

Answers

Answer:

S/n    General journal       Debit          Credit

1.        Cash                        $90,000

             Common stock                      $90,000

2.       Equipment                $400,000  

               Cash                                      $180,000

                Notes payable                     $282,000

3         Supplies                    $5,500  

                 Account payable                  $5,500

4.         Cash                           $8,400

                 Service revenue                   $8,400

5.        Advertising expense   $500

                 Cash                                       $500

6.          Account payable        $800

                  Cash                                        $800

7.          Dividends                     $1,600

                  Cash                                        $1,600

8.         Rent expense                $1,200  

                    Cash                                       $1,200

9.           Cash                             $2,200

                    Unearned service revenue    $2,200

10.           Account receivable     $500

                      Service revenue                    $500

Assume you work for a valuation firm, and you have been given the assignment of valuing a local law firm comprising three partners and four associates. One partner plans to retire spoon, and the partners are trying to agree on the value of a one-third interest in the firm in order to buy out the departing partner's interest. The firm's revenue per partner is two times higher than that of the average firm of a similar size, but you soon discover that 80% of firm revenue is from one client.

Required:
Please raise one question about this scenario that you would want to address.

Answers

Answer:

Valuation of a law firm

One question to raise:

Which of the partners brought in this one powerful client?  I hope it is not the retiring partner.

Explanation:

If the retiring partner had brought in the client and had been in charge of the client's business, the firm's valuation would be drastically influenced by these facts.  It is likely that the client might retire the service as the retiring partner retires.  This will jeopardize the revenue outlook of the firm, its future prospects, and its current value.  However, if the retiring partner is not linked to this powerful client, then it may be that the firm's value will not be at risk.  Again, over-dependence on one client for firm's revenue is does not augur well for the firm.  Moreover, the margin of over-dependence is too high for comfort.  There is serious need for a review of the relationship, not in terms of termination, but in terms of seeking for more big-ticket clients to relatively reduce the over-dependence.

The marginal external cost associated with air pollution increases with the annual output of a polluting industry. At the current competitive equilibrium level of output per year, the marginal external cost is $10 per unit of output. To achieve efficiency,
a. a corrective tax of $10 per unit of output is required.
b. a corrective tax of more than $10 per unit of output is required.
c. a corrective tax of less than $10 per unit of output is required.
d. a corrective subsidy of $10 per unit of output is required.
e. a corrective subsidy of less than $10 per unit of output is required .

Answers

Answer:

The answer is "Option c".

Explanation:

The Marginal external cost, owing only to the production of an extra unit of goods or services, is the cost changes for persons besides the producer or buyer of goods or services. In this, question the  "option c" is right in, this regard because it needs a correction tax of less than $10 per unit of production.

Exercise 2-8 Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics Aug. 1 Madison Harris, the owner, invested $6,see cash and $33,509 of photog company paid $2,100 cash for an insurance policy covering the next 24 month:s s The company purchased office supplies for $888 cash. 20 The company received $3,331 cash in photography fees earned. 31 The company paid $675 cash for August utilities.
Required:
1. Post the transactions to the T-accounts.
2. Use the amounts from the T-accounts in Requirement (1) to prepare an August 31 trial balance for Pose-for-Pics. Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Post the transactions to the T-accounts Cash ies Balance

Answers

Answer:

All requirements solved

Explanation:

For different accounts, debits and credits may translate to increases or decreases, but the debit side must always lie to the left of the T outline and the credit entries must be recorded on the right side.

T-Accounts

Cash

Date                Description                     Debit                 Credit

1-Aug          M Harris, Capital              $6,500

2-Aug         Prepaid Insurance                                         $2,100

5-Aug          Office Supplies                                             $880

20-Aug         Fees Earned                   $3,331

31-Aug        Utilities Expense                                           $675

31-Aug             Balance                                                     $6,176

Total                                                  $9,831                   $9,831

Office Supplies

Date                Description                     Debit                 Credit

5-Aug                  Cash                             $880

31-Aug              Balance                                                   $880

Total                                                        $880                  $880

Prepaid Insurance

Date                Description                     Debit                 Credit

2-Aug                 Cash                             $2,100

31-Aug              Balance                                                 $2,100

Total                                                        $2,100            $2,100

Photography Equipment

 Date                Description                     Debit                 Credit

1-Aug          M Harris, Capital               $33,500

31-Aug               Balance                                                $33,500

Total                                                        $33,500         $33,500

M Harris, Capital

  Date                Description                     Debit                 Credit

1-Aug                 Cash                                                     $6,500

1-Aug    Photography Equipment                                $33,500

31-Aug              Balance                        $40,000

Total                                                     $40,000         $40,000

Utilities Expense

   Date                Description                     Debit                 Credit

31-Aug                Cash                              $675

31-Aug               Balance                                                  $675

 Total                                                        $675                  $675

Photography Fees Earned

    Date                Description                     Debit                 Credit

20-Aug               Cash                                                     $3,331

31-Aug              Balance                       $3,331

 Total                                                    $3,331                 $3,331

Trial Balance

                                                            Debit                Credit

Cash                                                  $6,176

Office Supplies                                  $880

Prepaid Insurance                           $2,100

Photography Equipment                 $33,500

M Harris, Capital                                                        $40,000

Photography Fees Earned                                         $3,331

Utilities Expense                              $675

Totals                                                $43,331                $43,331

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