Answer:
non-rival
non-excludable
$5320
greater
should
b
Explanation:
A public good is a good that is non rivalled and non excludable in consumption. An example is road networks.
If the beautification project is carried out, a student cannot be excluded from benefitting from the project. The benefit a student derives from the project isn't affected by the benefit other students derive from it
Benefit of the project = number of students x willingness to pay
$14 x 380 = $5320
Because the benefit is greater than the cost of the project, the project should be undertaken
Willingness to pay is the highest amount a consumer is willing to pay for a product
Willingness to pay might be misstated if students think they would be charged their willingness to pay. They would understate their willingness to pay.
Assume you are the CEO of Black Diamond, a global organization. You need to assemble members for new project team that is based on a loosely structured product concept. As a result, the project itself is ambiguous without clearly defined goals or roles for members. You recognize that some people are more likely to be comfortable working on such an ambiguous project than others and that this might be related to national or cultural differences. In this case you might seek to put people on the project who are from a ___________________ country.
Answer:
culturally similar
Explanation:
In this case, you might seek to put people on the project who are from a culturally similar country. These types of countries share the same cultural backgrounds and therefore individual's from these countries usually have the same beliefs, ideas, habits, etc. This similarity allows these individuals to easily bond and work together easily. Ultimately, this would be the best option for a group project since it will drastically increase efficiency if the members are able to work together more fluently.
Decision making is often a biased and flawed process. This activity is important because a person who can identify and be aware of their biases may be able to make better decisions for themselves and may be able to diagnose flawed decisions that affect their workplace.The goal of this exercise is to test your knowledge of the nine fundamental decision-making biases.Availability BiasRepresentativeness BiasSunk-Cost BiasAnchoring and Adjustment BiasConfirmation BiasOverconfidence BiasHindsight BiasFraming BiasEscalation of Commitment BiasFirst, hover over each name and read the scenario. Next, click and drag each name into the appropriate area in the chart to correspond with the decision-making bias its scenario best represents.
Answer:
Availability Bias(Amber)
Representativeness Bias(Logan)
Sunk-Cost Bias(Katrina)
Anchoring and Adjustment Bias(Sue)
Confirmation Bias(Mike)
Overconfidence Bias(Bill)
Hindsight Bias(Kathy)
Framing Bias(Allison)
Escalation of Commitment Bias(Patrick)
Explanation:
Bias can as well be regarded as cognitive bias, it can be explained as tendency that comes in when making decisions or taking actions in ways that are illogical.It should be noted Decision making can often be biased as well as flawed process.
The fundamental decision making bias are been listed below as;
1)Availability Bias
2)Representativeness Bias
3)Sunk-Cost BiasAnchoring
3)Adjustment Bias
4)Confirmation Bias
5)Overconfidence Bias
6)Hindsight Bias
7)Framing Bias
8)Escalation of Commitment Bias
Annie, a professor of management studies, wants to organize a collaborative project with her students to help them understand various aspects of marketing. She writes down the project goal in a circle in the center of a large sheet of paper. She and her students then brainstorm to identify the tasks that must be done to achieve the goal. She asks the students to write each task in a circle on the sheet and draw lines connecting the various circles. In this scenario, Annie is using a process called:
Answer:
Mind mapping
Explanation:
Mind mapping is commonly known as a graphic technique. It is used simply for showing or representing ideas, simply by using words, images, symbols, and color. It is patterns based and found in nature and research on how humans think and use their minds. It used to articulate and capture thoughts, ideas, and information as it is a connected relationships that uses structure and logic to thoughts, ideas, and information.
Furthermore, it it characterized by a central main idea, secondary ideas (or topics), also has other many layers of ideas (or sub-topics) importantly to fully capture and articulate the concept.
When manager Mariah Pitner delivered the company's financial report to local bankers and analysts, she was acting in a(n) _____ role.
Answer:
When manager Mariah Pitner delivered the company's financial report to local bankers and analysts, she was acting in a(n) _assistant secretary_ role.The outstanding capital stock of Coronado Corporation consists of 1,900 shares of $100 par value, 9% preferred, and 5,400 shares of $50 par value common. Assuming that the company has retained earnings of $87,500, all of which is to be paid out in dividends, and that preferred dividends were not paid during the 2 years preceding the current year, state how much each class of stock should receive under each of the following conditions.
a. The preferred stock is noncumulative and nonparticipating.
b. The preferred stock is cumulative and nonparticipating.
c. The preferred stock is cumulative and participating.
Answer:
preferred stock dividends = 1,900 x $100 x 9% = $17,100
common stocks = 5,400 stocks
a) distribution of dividends:
preferred stocks = $17,100
common stocks = $70,400
b) distribution of dividends:
preferred stocks = $17,100 x 3 = $51,300
common stocks = $36,200
c) distribution of dividends:
preferred stocks = $51,300 + (1,900/7,300 x $19,100) = $56,271
common stocks = $17,100 + (5,400/7,300 x $19,100) = $29,429
Sigma Corporation applies overhead cost to jobs on the basis of direct labor cost. Job V, which was started and completed during the current period, shows charges of $6,700 for direct materials, $9,500 for direct labor, and $6,270 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $4,100 for direct materials and $4,100 for direct labor.
Required:
Calculate the overhead cost be added to Job W at year-end
Answer:
Job W= $2,706
Explanation:
First, we need to calculate the predetermined overhead rate based on allocated overhead to Job V:
Job V:
Direct labor= $9,500
Allocated overhead= $6,270
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
6,270= Estimated manufacturing overhead rate*9,500
6,270/9,500= Estimated manufacturing overhead rate
Estimated manufacturing overhead rate= $0.66 per direct labor dollar.
Now, for Job W:
Job W= 0.66*4,100
Job W= $2,706
Write down the following scenarios as examples of elastic, inelastic, or unit elastic demand.
a. When Ruko, a device used to stream movies at home, increases prices by 39 %, total revenue decreases by 55 %.
b. When Cinema Supreme decreases ticket prices by 5 %, total revenue does not change.
c. When Bluebox, a DVD rental kiosk, increases its prices by 44 %, total revenue increases by 31 %.
Answer and Explanation:
The classification is as follows:
a. In the case when the quantity demanded is more than the price so it is a price elastic demand
b. In the case when the change in price of 1% lower than the change in quantity demanded so it is price inelastic demand
c. And, in the case where there is a change of 1% in a price that generated the 1% change in quantity demanded is unit elastic demand
A consulting engineer has been engaged to advise a town how best to proceed with the construction of a 200,000 water supply reservoir. Since only 120,000 of storage will be required for the next 25 years, an alternative to building the full capacity now is to build the reservoir in two stages. Initially, the reservoir could be built with 120,000 of capacity and then, 25 years hence, the additional 80,000 of capacity could be added by increasing the height of the reservoir. Estimated costs are as follows construction cost, and annual maintenance cost, build in 2 stages first stage 120,000 reservoir $14'200,000 $75,000; second stage add 80,000 of capacity $120600,000 and $25,000 additional construction cost build in full capacity now 200,000 reservoir $22'400,000 and $100,000 if the interest is computed at 4%, which construction plan is preferred?
Answer:
Single stage construction
PW of Cost = $22,400,000 + 100,000(P/A, 4%, 25)
PW of Cost = $22,400,000 + 100,000(15.622)
PW of Cost = $22,400,000 + $1,562,200
PW of Cost = $23,962,200
Tow stage construction
PW of cots = $14,200,000 + $75,000(P/A, 4%, 25) + $12,600,000(P/F, 4%, 25)
PW of cost = $14,200,000 + $75,000(15.622) + $12,600,000(0.3751)
PW of cost = $14,200,000 + $1,171,650 + $4,726,260
PW of cost = $20,097,910
Conclusion: We should choose two stage construction as it has lesser Present worth of cost.
Here we preferred two stage construction as it has lesser Present worth of cost.
Calculation of the selection of the construction plan:For Single stage construction
PW of Cost = $22,400,000 + 100,000(P/A, 4%, 25)
= $22,400,000 + 100,000(15.622)
= $22,400,000 + $1,562,200
= $23,962,200
Now
For Tow stage construction
PW of cots = $14,200,000 + $75,000(P/A, 4%, 25) + $12,600,000(P/F, 4%, 25)
= $14,200,000 + $75,000(15.622) + $12,600,000(0.3751)
= $14,200,000 + $1,171,650 + $4,726,260
= $20,097,910
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The purpose of domains in a typical IT infrastructure is to: a. help organize the roles, responsibilities, and accountabilities for risk management and risk mitigation. b. control the activities and behaviors of employees and limit their accessibility to certain domains. c. define the policies that will eliminate all possibilities and avenues of attack. d. identify the domains most likely to be attacked and the relative cost and impact of potential attacks
Answer:
a. help organize the roles, responsibilities and accountabilities for risk management and risk mitigation.
Explanation:
Domain connects remote users to the organization network. It helps host to define the access to specific user. Domain holds all the critical information and data in the system. It defines the roles and responsibilities for risk mitigation.
is it right to kick someone out just because they are not on the lease and or had been evicted in the past?
Taher, an employee with Wilco Plumbing, has been transferred to a different division within the company. To facilitate a smooth transition, the company has initiated a program for Taher that will provide him with the knowledge and skills required to perform the new role effectively. Which of the following human resource management practices did Wilco Plumbing perform?a) trainingb) job analysisc) performance managementd) selectione) recruitment
Answer: training
Explanation:
From the question, we are informed that Taher, is an employee for Wilco Plumbing, and was sent to a different segment in the company and that the company initiated a program that will provide him with the knowledge and skills which is necessary to perform the new role effectively. The human resource management practices performed here is training.
Training simply refers to the learning that one undergoes in a company so that the person can have the required knowledge and skills to perform well in the role that he or she is assigned in the he company and also so that organizational goals can be attained.
Cost of goods manufactured in a manufacturing company is analogous to
The following accounts and account balances are available for Badger Auto Parts at December 31, 2019:
Accounts Payable $8,500 Income Taxes Payable $3,600
Accounts Receivable 40,800 Interest Expense 6,650
Accumulated Depreciation (Furniture) 47,300 Interest Payable 1,800
Advertising Expense 29,200 Inventory 60,500
Cash 3,200 Notes Payable (Long
-Term) 50,000
Common Stock 100,000 Prepaid Rent 15,250
Cost of Goods Sold 184,300 Retained Earnings,
12/31/2018 15,900
Depreciation Expense (Furniture) 10,400 Sales revenue 264,700
Furniture 128,000 Utilities expense 9,700
Income Taxes Expense 3,800
Required:
Prepare a trial balance. Assume that all accounts have normal balances.
Answer:
Answer is solved and explained in the explanation section below.
Explanation:
In this question, we are asked to prepare a trial balance assuming that all accounts have normal balances. And the purpose of making a trial balance is to make sure that the entries in the system are mathematically sound.
So,
Badger Auto Parts Debit Credit
Accounts payable $8,500
Accounts receivable $40,800
Accumulated depreciation (furniture) $47,300
Advertising expense $29,200
Cash $3,200
Common stock $100,000
Cost of goods sold $184,300
Depreciation expense (furniture) $10,400
Furniture $128,000
Income tax expense $3,800
Income tax payable $3,600
Interest expense $6,650
Interest payable $1,800
Inventory $60,500
Notes payable $50,000
Prepaid rent $15,250
Retained earnings $15,900
Sales revenue $264,700
Utilities expense $9,700
Totals $491,800 $491,800
Consider each of the transactions below. All of the expenditures were made in cash. The Edison Company spent $17,000 during the year for experimental purposes in connection with the development of a new product. In April, the Marshall Company lost a patent infringement suit and paid the plaintiff $10,000. In March, the Cleanway Laundromat bought equipment. Cleanway paid $11,000 down and signed a noninterest-bearing note requiring the payment of $20,500 in nine months. The cash price for this equipment was $28,000. On June 1, the Jamsen Corporation installed a sprinkler system throughout the building at a cost of $33,000. The Mayer Company, plaintiff, paid $17,000 in legal fees in November, in connection with a successful infringement suit on its patent. The Johnson Company traded its old machine with an original cost of $9,900 and a book value of $4,500 plus cash of $9,000 for a new one that had a fair value of $11,500. The exchange has commercial substance. Required: Prepare journal entries to record each of the above transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
1. Dr Research and development expense $17,000
Cr Cash $17,000
2. Dr Legal fees expense $10,000
Cr Cash $10,000
3. Dr Equipment $28,000
Dr Discount on note payable $3,500
Cr Cash $11,000
Cr Notes payable $20,500
4. Dr Building—sprinkler system $33,000
Cr Cash $33,000
5. Dr Patent $17,000
Cr Cash $17,000
6. Dr Equipment—new $11,500
Dr Loss on trade-in $1,900
Dr Accumulated depreciation—old asset $5,400
Cr Equipment—old $9,900
Cr Cash $9,000
Explanation:
Preparation of journal entries to record each of the transactions
1. Dr Research and development expense $17,000
Cr Cash $17,000
2. Dr Legal fees expense $10,000
Cr Cash $10,000
3. Dr Equipment $28,000
($20,500+$11,000-$28,000)
Dr Discount on note payable $3,500
Cr Cash $11,000
Cr Notes payable $20,500
4. Dr Building—sprinkler system $33,000
Cr Cash $33,000
5. Dr Patent $17,000
Cr Cash $17,000
6. Dr Equipment—new $11,500
Dr Loss on trade-in $1,900
($9,900+$9,000-$11,500-$5,400)
Dr Accumulated depreciation—old asset $5,400 ($9,900-$4,500)
Cr Equipment—old $9,900
Cr Cash $9,000
Consider the market for widgets. Widgets are produced in the United States, unless producers aren’t willing to meet the quantity demanded at a particular price. In that case, widgets are imported.
Suppose that the price with free trade is $7. If lawmakers want to ensure that U.S. widget producers can sell at least 8,000 widgets, what might they do?
Price
Quantity Demand
Quantity SuppliedDomestically
Quantity Imported
$6 13,000 2,000 8,000
$7 12,000 4,000 8,000
$8 11,000 6,000 5,000
$9 10,000 8,000 2,000
$10 9,000 9,000 0
$11 8,000 10,000 0
impose a tax on imported widgets
provide a subsidy for imported widgets
impose an import quota
Answer:
impose a tax on imported widgets - if the government imposes a tax on imported widgets, imported widgets will become more expensive to consumeres, making consumers flock to domestically produced widgets, prompting domestic firms to increase domestic supply to at least 8,000 widgets.
impose an import quota - the government can also simply impose an import quota of 4,000 widgets, which will oblige consumers to buy at least 8,000 domestic widgets if they want to satisfy their demand of 12,000 widgets.
Decision Point: International Market Analysis You've done a considerable amount of research and have determined the follöwing Approximately 75% of the population in Ethiopia does not have electricity. Approximately 55% of the population in Nigeria does not have electricity. Nearly 40% of the population in Bangladesh does not have electricity. Nearly 25% of the population in Indonesia does not have electricity. Approximately 25% of the population in India does not have electricity. * Yoè recognize, however, that it would be wise to consider the population of those countries before determining which market(s) would have the greatest potential for your products, so you obtain that information as well. Your research reveals the following population estimates: .
Population of Ethiopia: 102,000,000 .
Population of Nigeria: 187,000,000 .
Population of Bangladesh: 163,000,000
Population of Indonesia: 260,000,000
Population of India: 1,327,000,000
Based on the information presented above, calculate the number of people in each country who do not have access to electricity.
Answer and Explanation:
The computation is shown below:
Country Total population % without electricity No. of people without electricity
Ethiopia 102,000,000 75% 76,500,000
Nigeria 187,000,000 55% 102,850,000
Bangladesh 163,000,000 40% 65,200,000
Indonesia 260,000,000 25% 65,000,000
India 1,327,000,000 25% 331,750,000
The number of people in each country who do not have access to electricity will be:
Ethiopia = 76,500,000Nigeria = 102,850,000Bangladesh = 65,200,000Indonesia = 65,000,000.India = 331,750,000.In Ethiopia, the number of people without electricity will be:
= 75% × 102000000 = 76500000
In Nigeria, the number of people without electricity will be:
= 187000000 × 55% = 102850000
In Bangladesh, the number of people without electricity will be:
= 163000000 × 40% = 65200000
In Indonesia, the number of people without electricity will be:
= 260000000 × 25% = 65000000
In India, the number of people without electricity will be:
= 1327000000 × 25% = 331750000
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The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $820,000, and it would cost another $17,500 to install it. The machine falls into the MACRS 3-year class, and it would be sold after 3 years for $604,000. The MACRS rates for the first three years are 0.3333, 0.4445, and 0.1481. The machine would require an increase in net working capital (inventory) of $15,500. The sprayer would not change revenues, but it is expected to save the firm $338,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 25%. (Ignore the half-year convention for the straight-line method.) Cash outflows, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest dollar.
a. What is the Year 0 net cash flow?
b. What are the net operating cash flows in Years 1, 2, 3?
c. What is the additional Year 3- cash flow (i.e. after tax salvage and the return of working capital)?
d. If the project's cost of capital is 12%, should the machine be purchased?
Answer:
a. What is the Year 0 net cash flow?
-$820,000 - $17,500 - $15,500 = -$853,000
b. What are the net operating cash flows in Years 1, 2, 3?
Operating cash flow year 1 = {[$338,000 - ($837,500 x 1/3)] x (1 - 25%)} + ($837,500 x 1/3) = $323,292
Operating cash flow year 2 = {[$338,000 - ($837,500 x 0.4445)] x (1 - 25%)} + ($837,500 x 0.4445) = $346,567
Operating cash flow year 3 = {[$338,000 - ($837,500 x 0.1481)] x (1 - 25%)} + ($837,500 x 0.1481) = $284,508
c. What is the additional Year 3- cash flow (i.e. after tax salvage and the return of working capital)?
= $62,031 + [($604,000 - $62,031) x 0.75] + $17,500 = $486,008
d. If the project's cost of capital is 12%, should the machine be purchased?
using a financial calculator, NPV = $260,373, so the project should be accepted
It's & called
2. When one organism benefits while the other is not affected. It is
known as
Assuming that turkey chicken pork and beef are substitues supppose that the price of turkey had fallen. This will, other things being equal
wait where did the turkey fall?
Profit is only a liability for the business. Can you justify this?
Answer:
A growing company may not be earning any profits yet, but may nevertheless provide a great investment opportunity.
Other times, a lack of profitability can be a huge red flag that something is wrong with the firm.
Explanation:
On January 1, 2021, Tiny Tim Industries had outstanding $1,000,000 of 12% bonds with a book value of $967,000. The indenture specified a call price of $983,500. The bonds were issued previously at a price to yield 14% and interest payable semi-annually on July 1 and January 1. Tiny Tim called the bonds (retired them) on July 1, 2021. What is the amount of the loss on early extinguishment
Answer:
$8,810
Explanation:
Calculation for What is the amount of the loss on early extinguishment
First step is to calculate the Call price of bond
Call price of bond=$967,000 + ($967,000*(14%/2)) - ($1,000,000*(12%/2))
Call price of bond= $967,000 + ($967,000*7%) - ($1,000,000*6%)
Call price of bond=$967,000+$67,690+$60,000
Call price of bond= $974,690
Now let calculate the Amount of loss on early extinguishment
Amount of loss on early extinguishment = $983,500 - $974,690
Amount of loss on early extinguishment = $8,810
Therefore Amount of loss on early extinguishment will be $8,810
Mercedes-Benz runs a TV commercial advertisement that displays one of its top-of-the-line cars. As the driver pulls up to a valet, people turn their heads and stare at the car. Mercedes-Benz has effectively leveraged which need in Maslow’s hierarchy?
Answer:
esteem
Explanation:
esteem
Makers Corp. had additions to retained earnings for the year just ended of $194,000. The firm paid out $184,000 in cash dividends, and it has ending total equity of $4.89 million. The company currently has 120,000 shares of common stock outstanding. a. What are earnings per share
Answer:
Makers Corp.
The Earnings Per Share are:
= $3.15.
Explanation:
a) Data and Calculations:
Additions to retained earnings for the year = $194,000
Cash dividends paid out = 184,000
Net income = $378,000
Total equity = $4.89 million
Outstanding shares = 120,000
Earnings per share = Net Income/Outstanding shares
= $378,000/120,000
= $3.15
b) The earnings per share (EPS) is a financial metric that is widely used to corporate value. It indicates the amount of money that a company makes for its stockholders per share. It is computed by dividing the net income by the number of outstanding shares.
find three examples of managers
you would describe as master managers. Write a paper describing these individuals
as managers and why you think they deserve this title.
ms
Answer:
All managers must be comfortable with three main types of activities or roles. To do their jobs, managers assume these different roles. No manager stays in any one role all of the time, but shifts back and forth. These roles are leadership (or interpersonal), informational, and decision making.
Explanation:
Hope it helps kahit na ndi ko na sagot ung main question.
The three examples of managers that we would describe as master managers are advertisement manager, accounting manager and analytics manager. The roles of managers are leadership, informational, and decision making.
What is an information?An information refers to something that has the power to inform. At the most fundamental level information pertains to the interpretation of that which may be sensed.
The digital signals and other data use discrete signs or alogrithms to convey information, other phenomena and artifacts such as analog signals, poems, pictures, music or other sounds, and the electrical currents convey information in a more continuous form.
Information is not knowledge itself, but its interpretation is important. An Information can be in a raw form or in an structured form as data. The information available through a collection of data may be derived by analysis by expert analysts in their domain.
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Match each variable with the best representation of where it appears in the financial accounting statements. Each is only matched once and some responses might not have a match. - Accounts payable - Change in Accounts Receivable - Change in Notes Payable - Property Plant and Equipment - Revenue - Change in long term debt A. Long Term Liabilities on the Balance Sheet B. The Income Statement C. Current Liabilities on the Balance Sheet D. Financing Segment Statement of Cash flows E. Financing Segment on the Statement of Cash Flows F. Fixed Assets on the Balance Sheet G. Operating Segment on the Statement of Cash Flow
Answer:
Variable Financial accounting statements.
Accounts payable Current liabilities in the balance sheet.
Change in accounts receivable Operating segment on the statement of
Cash flows.
Change in note payable Financing segment on the statement of
cash flows.
Property, Plant and Equipment Fixed assets on the balance sheet.
Revenue The income statement.
Change in long term debt Investing segment on the statement of
cash flows.
Aimi Corporation, based in Japan, decides to open a big manufacturing and distribution center in China. It does this by acquiring operating facilities from another company in China. The management at Aimi believes that adopting this approach will provide the company with instant access to new markets. In this context, the HR function at Aimi Corporation will:a.need to extend and expand its scope and operations to provide the appropriate contributions to firm performance.b.need to be extended to include employees of the Chinese company involved in the acquisition.c.need to be extended to include another set of employees but will not change in any other meaningful way.d.become complicated because of the disparate relationship between the staff in Aimi's home-country and the staff of the acquired company.
Answer: a. need to extend and expand its scope and operations to provide the appropriate contributions to firm performance.
Explanation:
The HR function will need to take into account the acquisition of these ew operating facilities and the fact that it will come with new employees and new ways to relate to those employees as they are from another country as the one that Aimi is based in.
The HR function will therefore have to extend and expand its scope and operations to incorporate this new situation and provide the appropriate contribution to the company from it.
On October 31 of the current year, Bell Sports received a bank statement dated October 30. Information has been obtained from the bank statement and from the records of the business. Prepare a bank statement reconciliation. Use Oct. 31 of the current year as the date.
Answer and Explanation:
The preparation of the bank reconciliation is presented below:
For company books
Balance $4,226
Less: service charges -$16
Adjusted balance $4,210
For bank statement
Balance $4,461
Add: outstanding deposits $448
Less: outstanding checks
Number 110 $37
Number 111 $75
Number 114 $587
Adjusted balance $4,210
Florissa's Flowers jointly produces three varieties of flowers in the same garden: tulips, lilies, and daisies. The flowers are all watered via the same irrigation system and all receive the same amount of water; daisies require three times as much as lilies, and the water required for tulips is about halfway between the amounts needed for daisies and lilies. Although the lilies and tulips receive more water than they need due to the joint irrigation process, they are not hurt by the overwatering. The joint production cost of the three varieties of flowers is about $30 per harvest. Every harvest yields 10 tulips, 20 lilies, and 20 daisies.
1. Allocate the joint costs of production to each product using the physical units method.
Joint
Product Flowers
per Harvest Proportion Joint
Costs Allocation
Tulip % $ $
Lily %
Daisy %
Totals $
Which products receive the largest portion of the joint costs?
received the largest portion of the joint costs.
2. Allocate the joint costs of production to each product using the weighted average method.
Joint
Product Flowers
per Harvest Weight
Factor Weighted
Flowers
of Water Weighted
Percent
of Water Joint
Costs Allocation
Tulip % $ $
Lily %
Daisy %
Totals $
Which product receives the largest portion of the joint costs?
received the largest portion of the joint costs.
3. Why would it be important to consider the watering process as an appropriate weight factor?
a. The cost of watering the plants is a large portion of the joint costs and the company follows the same irrigation system for all three varieties of flowers.
b. It is a natural resource which is more precious.
c. Daisies have the highest market value.
d. None of the above.
Answer:
1.) Lilies and Daisies received the largest portion of the joint costs.
2.) Daisies received the largest portion of the joint costs.
3.) a. The cost of watering the plants is a large portion of the joint costs and the company follows the same irrigation system for all three varieties of flowers.
Explanation:
Physical unit method :
Joint product _Flo /harvest _prop__JC__Alloc
Tullip ________10 _______0.20 _ 30 __ 6
Lilly _________ 20 ______0.40 _ 30 __ 12
Daisy ________ 20 ______0.40 _ 30 __ 12
Allocation = proportion * joint cost
B.)
Weighted average method :
If daisy requires 3 tines as much as lilies and tulips requires something in between both ;
Then ;
Daisy = 3 ; lilies = 1 ;
Tullips = (daisy + lilies) / 2 = (3 +1) / 2= 4/2 = 2
Weighted average method :
JP_Flo /H_ WF__WFW_W%__pro__JC__Alloc
Tullip_10 __ 2 __ 20 _ 20% _0.20 _ 30 __ 6
Lilly_ 20 ___ 1 __ 20 _ 20% _0.20 _ 30 __ 6
Daisy_20 __ 3__ 60 _ 60% _0.60 _ 30 __ 18
Allocation = joint cost * proportion
What is the future of discussion of fourms?
Answer:
Improve communication. ...
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Concord Company purchased equipment for $25200 on December 1. It is estimated that annual depreciation on the equipment will be $6300. If financial statements are to be prepared on December 31, the company should make the following adjusting entry:
Debit Depreciation Expense, $6300;
Credit Accumulated Depreciation, $6300.
Debit Depreciation Expense, $525;
Credit Accumulated Depreciation, $525.
Debit Equipment, $25200;
Credit Accumulated Depreciation, $25200.
Debit Depreciation Expense, $18900;
Credit Accumulated Depreciation, $18900.
Answer:
Debit Depreciation Expense, $525;
Credit Accumulated Depreciation, $525.
Explanation:
Based on the information given in a situation where the financial statements are to be prepared on December 31, which means that the company should make the following adjusting entry:
Debit Depreciation Expense, $525
Credit Accumulated Depreciation, $525
Calculated as:
Debit depreciation expense $6,300/12
Debit depreciation expense=$525