Answer: $780,000
Explanation:
The Paid-In Capital refers to the amount of Equity in the company which can also be said to be the amount of money raised from share sales;
= (45,000 * 10) + (30,000 * 11)
= $780,000
Vega Enterprises has computed the following unit costs for the year just ended: Direct material used $12 Direct labor 18 Variable manufacturing overhead 25 Fixed manufacturing overhead 29 Variable selling and administrative cost 10 Fixed selling and administrative cost 17 Under absorption costing, each unit of the company's inventory would be carried at: $84. None of the answers is correct. $35. $65. $55.
Answer:
Unitary cost= $84
Explanation:
Giving the following information:
Direct material used $12
Direct labor 18
Variable manufacturing overhead 25
Fixed manufacturing overhead 29
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
Unitary cost= 12 + 18 + 25 + 29
Unitary cost= $84
Lori Nichols opened an engineering office and titled the business Engineering Enterprises P.C. During its first month of operations, it completed the following transactions: Lori invested $30,000 in the business, which in turn issued common stock to her. The business purchased equipment on account for $6,000. The business provided engineering services on account, $10,000. The business paid salaries to the receptionist, $1,000. The business received cash from a customer as payment on account $6,000. The business borrowed $8,000 from the bank, issuing a note payable. At the end of the month, Cash would equal: A) $30,000.B) $37,000.C) $43,000.D) $61,000.
Answer:
Engineering Enterprises P.C.
At the end of the month, Cash would equal:
C) $43,000.
Explanation:
a) Data and Calculations:
Cash Account:
Lori investment in Engineering Enterprises P.C. = $30,000
Payment of salaries to the receptionist = (1,000)
Cash received from a customer on account = 6,000
Cash borrowed from the bank = 8,000
At the end of the month, Cash would equal $43,000
b) The cash balance at the end of the month is made up of the investment by Lori for common stock in Engineering Enterprises P.C. and the cash received respectively from a customer and the bank, minus the cash payment made to the receptionist as salaries.
Balance Sheet October 31 Assets Cash $ 36,500 Accounts receivable 87,000 Merchandise inventory 195,300 Property, plant and equipment, net of $624,000 accumulated depreciation 925,000 Total assets $ 1,243,800 Liabilities and Stockholders' Equity Accounts payable $ 259,000 Common stock 760,000 Retained earnings 224,800 Total liabilities and stockholders' equity $ 1,243,800 Q: What is the cost of December merchandise purchases
Answer:
so hard so hard i cant do this omgod so hard thos is your mom can answer this lol its funny
make this simple and not hard i cant answer this
Metallica Bearings, Inc., is a young start-up company. No dividends will be paid on the stock over the next nine years because the firm needs to plow back its earnings to fuel growth. The company will pay a dividend of $14 per share 10 years from today and will increase the dividend by 8 percent per year thereafter. If the required return on this stock is 14 percent, what is the current share price? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answer:
the current price of the stock is $71.75
Explanation:
The computation of the current stock price is shown below:
Price at year 9 is
= Dividend ÷ (required rate of return - growth rate)
= $14 ÷ (14 - 8%)
= $233.33
Now the current price of the stock is
= Price at year 9 ÷ (1 + required rate of return)^number of years
= $233.33 ÷ (1 + 0.14)^9
= $71.75
Hence, the current price of the stock is $71.75
Ruggles Circuit Company manufactures circuit boards for other firms. Management is attempting to search for ways to reduce manufacturing labor costs and has received a proposal from a consulting company to rearrange the production floor next year. Using the information below regarding current operations and the new proposal, which of the following decisions should management accept? Currently ProposedRequired machine operators 5 4.5Materials-handling workers 1.25 1.25Employee average pay $8 per hour $9 per hourHours worked per employee 2,100 2,000A) Do not change the production floor.B) Rearrange the production floor.C) Either, because it makes no difference to the employees.D) It doesn't matter because the costs incurred will remain the same.
Answer:
B) Rearrange the production floor.
Explanation:
First step is to calculate the manufacturing labor costs for the Current operations and new proposal
Calculation for the manufacturing labor costs for the Current operations
Current operations manufacturing labor costs =5 workers * 2,100 hours * $8.00
Current operations manufacturing labor costs = $84,000
Calculation for the manufacturing labor costs for the new proposal
New Proposal manufacturing labor costs=4.5 workers *2,000 hours * $9.00
New Proposal manufacturing labor costs = $81,000
Based on the above calculation the decisions that the management should accept is to REARRANGE THE PRODUCTION FLOOR if they want to reduce the company manufacturing labor costs reason been that the manufacturing LABOR COSTS for the current operations is $84,000 which means it is higher than the manufacturing LABOR COST for the new proposal which is $81,000
Therefore the management should REARRANGE THE PRODUCTION FLOOR because with the new proposal manufacturing labor costs will reduce.
A capital budgeting method that takes into consideration the time value of money is the cash payback technique. return on stockholders' equity method. internal rate of return method. annual rate of return method.
Answer:
Internal rate of return method
Explanation:
Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested
Accounting rate of return = Average net income / Average book value
Average book value = (cost of equipment - salvage value) / 2
Payback calculates the amount of time it takes to recover the amount invested in a project from it cumulative cash.
A small producer of machine tools wants to move to a larger building, and has identified two alternatives. Location A has annual fixed costs of $150,000 and variable costs of $20,000 per unit; location B has annual fixed costs of $350,000 and variable costs of $18,000 per unit. The finished items sell for $22,000 each. a. At what volume of output would the two locations have the same total cost
Answer: 100 units
Explanation:
Assume the volume of output where the two locations have the same total cost is x.
Volume is;
150,000 + 20,000x = 350,000 + 18,000x
20,000x - 18,000x = 350,000 - 150,000
2,000x = 200,000
x = 200,000 / 2,000
x = 100 units
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 $5,000 for direct materials, $8,000 for direct labor, and $6,000 for overhead on its job cost sheet. Job W, which is still in process at year-end, shows charges of $2,500 for direct materials and $4,000 for direct labor.
Required:
Calculate the overhead cost be added to Job W at year-end
Answer:
$3,000
Explanation:
Predetermined Overhead rate = Total estimated overhead cost / Allocation base
Predetermined Overhead rate = Total estimated overhead cost/Total estimated labor cost * 100
Predetermined Overhead rate = 6,000/8,000 * 100
Predetermined Overhead rate = 0.75 * 100
Predetermined Overhead rate = 75%
Overhead cost to be added to Job W at the year-end = Direct labor cost for Job W * Predetermined overhead rate = $4,000 * 75% = $3,000
Computer equipment was acquired at the beginning of the year at a cost of $65,000 that has an estimated residual value of $3,800 and an estimated useful life of 8 years. (1)Determine the (a) depreciable cost for straight rate, (b) straight-line rate, and (c) annual depreciation for the straight line rate (d) double declining balance depreciation amount for 1st year (2) Journalize the sale of the equipment at the end of the 4th year for $20,000 cash, if using the straight line rate.
Answer:
a) Depreciable cost = $61,200
b) Straight-line rate = 12.5%
c) Annual depreciation for the straight-line rate is:
$7,650.
d) The double-declining balance depreciation amount for the 1st year is:
$15,300.
e) Journal Entry of sale of equipment at the end of the 4th year for $20,000, using the straight-line rate:
Debit Sale of Equipment $65,000
Credit Equipment $65,000
To record the transfer of the equipment account.
Debit Accumulated Depreciation $30,600
Credit Sale of Equipment $30,600
To record the transfer of accumulated depreciation to the account.
Debit Cash Account $20,000
Credit Sale of Equipment $20,000
To record the cash received from the sale.
Debit Profit and Loss Account $14,400
Credit Sales of Equipment $14,400
To record the loss on sale of equipment.
Explanation:
a) Data and Calculations:
Cost of computer equipment = $65,000
Estimated residual value = 3,800
Depreciable value = $61,200
Estimated useful life = 8 years
Annual depreciation expense = $7,650 ($61,200/8) or $61,200 * 12.5%
Depreciable cost = $61,200 ($65,000 - $3,800)
Straight-line rate = 12.5% (100%/8)
Double-declining rate = 12.5% x 2 = 25%
Depreciation amount for the 1st year = $15,300 ($61,200 * 25%)
Book value of asset at the end of the 4th year, straight-line method:
Cost of equipment = $65,000
Accumulated Depreciation = $30,600 ($7,650 * 4)
Book value = $34,400
Sales proceed = $20,000
Loss on sale of asset = $14,400 ($34,400 - $20,000)
Dean has earned $75,000 annually for the past seven years working as an architect for WCC Incorporated Under WCC's defined benefit plan (which uses a seven-year graded vesting schedule) employees earn a benefit equal to 4.5 percent of the average of their three highest annual salaries for every full year of service with WCC. Dean has worked for seven full years for WCC and his vesting percentage is 99 percent. What is Dean's vested benefit (or annual retirement benefit he has earned so far)
Answer:
$23,388.75
Explanation:
Calculation for Dean's vested benefit
Dean's vested benefit =$75,000 x (4.5% x 7 years) x 99%
Dean's vested benefit =$75,000×0.315×99%
Dean's vested benefit =$23,388.75
Therefore Dean's vested benefit will be $23,388.75
Assume that President Trump develops an executive agreement with Russia this month, which will reduce taxes on imports from the country as way to promote cordial international business interests. This executive agreement is directly in conflict with a foreign tax treaty issued by Congress in May of last year. Assuming the president has the power to develop this agreement what is the likely outcome? A. The congressional treaty is discriminatory on its face and will be deemed unconstitutional B. The President's order will supercede the congressional treaty C. The President's order is in direct conflict with Congress' enumerated powers to tax and therefore will be struck down D. The congressional treaty will be upheld
Answer:
C. The President's order is in direct conflict with Congress' enumerated powers to tax and therefore will be struck down
Explanation:
An executive agreement supersedes state's law, but it cannot supersede federal laws or treaties enacted by congress. The president does not need the senate's approval for an executive agreement, but it cannot go against a treaty that was established by congress. The foreign tax treaty that was approved by congress is legally binding.
In terms of dividend payment procedures, the payment date refers to the date: Group of answer choices upon which the stock pays an extra dividend. on which the firm actually sends the dividend to investors. on which the right to the current dividend no longer accompanies the stock. on which a firm's board of directors issues a statement declaring the dividend.
Answer:
In terms of dividend payment procedures, the payment date refers to the date:
on which the firm actually sends the dividend to investors.
Explanation:
There are three dates with regard to the payment of dividends. The first date is the declaration date when the board of directors of the company decides to pay the dividends to stockholders. The second date is the date of record when the records are checked to establish the stockholders entitled to receive dividends. The last is the payment date when actual payment of the dividend is made to the investors through the issue of dividend warrants or certificates.
**ECONOMICS**A high level of productivity means that a worker:
A. creates a lot of something quickly.
B. has skills that are worth a lot of money.
C. is a member of a worker organization.
D. works in a career with a lot of competition.
Answer:A
Explanation:creates a lot of something quickly/just took the test
Answer: A. Creates a lot of something quickly
Explanation: I just took the test on Ap ex
Which one of the following statements is TRUE? a. A targeted share repurchase can be used to encourage a hostile takeover. b. A targeted share repurchase is when the company purchases stock from one shareholder at a higher price than it offers to other shareholders. c. A shareholder-friendly charter will make it harder for a company to be acquired. d. An example of asset switching is an option to exchange one piece of real estate for another.
Answer:
Option b: A targeted share repurchase is when the company purchases stock from one shareholder at a higher price than it offers to other shareholders
Explanation:
Stock repurchase is simply the buying of stock by a company from its stockholders. It is another means or way for a company to distribute value to the stockholders. It is a transactions in which a firm buys back shares of its own stock, thereby decreasing shares outstanding and increasing the stock price.
Repurchase by direct negotiation involves purchasing shares from a major shareholder often at a premium over market price.
Repurchase shares: is a way companies uses cash to buy shares of its own outstanding stock, shares are held and usually resold if company needs to raise money in the future.
Suppose that you invest $100 today in a risk-free investment and let the 6 percent annual interest rate compound. What will be the value of your investment 6 years from now?
Solution :
It is given that :
Amount of investment or the principle amount , P = $ 100
Time of investment , t = 6 years
Rate of interest compounded annually r = 6 %
Therefore the future amount of this investment in a 6 year time is given by,
[tex]$FV=P(1+\frac{r}{100})^t[/tex]
[tex]$FV=100(1+\frac{6}{100})^6[/tex]
[tex]$FV=100(1+0.06)^6[/tex]
[tex]$FV= 100 (1.4185)$[/tex]
[tex]$FV=141$[/tex]
Therefore, after 6 years the investment of $ 100 will give an amount of $ 141.
International trade is the subject of much debate. Many economist favor encouraging international trade, citing the benefits gained by trade. However, there are economic arguments for limiting international trade with protectionism. Classify the given statements into the appropriate category. Arguments for promoting international trade Arguments for limiting international trade with protectionism
Answer:
the arguments are missing, so I looked for similar questions and found:
The ability of a nation to consume more than it can produce domestically. ⇒ ARGUMENT FOR PROMOTING INTERNATIONAL TRADE. Excess production should be exported. The infant industry argument. ⇒ ARGUMENT FOR LIMITING INTERNATIONAL TRADE WITH PROTECTIONISM. Certain new industries should be protected until they mature and become leaders. Changes in productivity associated with specialization. ⇒ ARGUMENT FOR PROMOTING INTERNATIONAL TRADE. As specialization occurs, production output increases allowing for trade benefits. The potential for other governments to subsidize firms, enabling them to charge lower prices than domestic firms can. ⇒ ARGUMENT FOR LIMITING INTERNATIONAL TRADE WITH PROTECTIONISM. Since other countries subsidize their exports, we should impose tariffs to level the market. The national defense/interest argument. ⇒ ARGUMENT FOR LIMITING INTERNATIONAL TRADE WITH PROTECTIONISM. Some sectors are important and should be protected. Job loss in some labor markets. / Worries about domestic labor markets. ⇒ ARGUMENT FOR LIMITING INTERNATIONAL TRADE WITH PROTECTIONISM. Imported goods result in people losing their jobs.18. A company's flexible budget for 12,000 units of production showed sales, $48,000; variable costs, $18,000; and fixed costs, $16,000. The sales expected if the company produces and sells 16,000 units is: a. $24,000. b. $18,000. c. $48,000. d. $40,000. e. $64,000.
Answer:
e. $64,000.
Explanation:
The computation of the sales expected in the case of 16,000 units
Sales on 16,000 units is
= Budgeted sales ÷ Budgeted volume × Actual volume
= $48,000 ÷ 12,000 units × 16,000 units
= $64,000
hence, the sales expected in the case of 16,000 units is $64,000
Therefore the correct option is e
Hence, the same is to be considered
At the beginning of its fiscal year, the Town of Harmon estimates that its revenues for street maintenance activities are $100,000, and it appropriates $90,000 forstreet maintenance supplies. It currently has outstanding encumbrances for street maintenance supplies of $40,000 and has incurred expenditures for street maintenance supplies of $30,000. How much does the Town of Harmon currently have available to spend for street maintenance supplies
Answer:
The amount that the Town of Harmon currently have available to spend for street maintenance supplies is $20,000.
Explanation:
From the question, we can obtain the following:
Amount appropriated for street maintenance supplies = $90,000
Outstanding encumbrances for street maintenance supplies = $40,000
Expenditures incurred for street maintenance supplies = $30,000
Therefore, we have:
Amount currently available to spend for street maintenance supplies = Amount appropriated for street maintenance supplies - Outstanding encumbrances for street maintenance supplies - Expenditures incurred for street maintenance supplies = $90,000 - $40,000 - $30,000 = $20,000
Therefore, the amount that the Town of Harmon currently have available to spend for street maintenance supplies is $20,000.
n the theory of perfect competition, the assumptions of many buyers and sellers, the production of a homogeneous product, and the possession of all relevant information by buyers and sellers imply that the perfectly competitive firm a. has a demand curve that is perfectly inelastic. b. has a demand curve that is perfectly elastic. c. sets the price it wishes. d. has a demand curve that is downward sloping
Answer:
b. has a demand curve that is perfectly elastic. c. sets the price it wishes
Explanation:
Elasticity of demand is a measure of the degree of change in quantity demanded to changes in price.
For a perfectly elastic demand it means that an infinite quantity of a product will be required by consumers at a particular price. The perfectly elastic demand curve is usually horizontal.
In perfectly competitive markets elasticity of demand is perfectly elastic because there are many buyers and sellers, production of a homogeneous product, and the possession of all relevant information by buyers and sellers.
So prices between products tend to be the same
In one hour of labor input, South Korea can produce either 100 computer chips or 50 bed linens. In the U.S., in one hour of labor input, either 150 computer chips or 100 bed linens can be made. Select the correct response below. Group of answer choices S. Korea has a comparative advantage in computer chip manufacturing. The U.S. has an absolute advantage in bed linen manufacturing. All of these are correct The U.S. has a comparative advantage in bed linen manufacturing. The U.S. has an absolute advantage in computer chips manufacturing.
Answer: All of these are correct
Explanation:
South Korea
Opportunity cost of Computer chips = 50/100 = 0.2 bed linens
Opportunity cost of bed linens = 100/50 = 2 computer chips
USA
Opportunity cost of Computer chips = 100/150 = 0.67 bed linens
Opportunity cost of bed linens = 150/100 = 1.5 computer chips
Country with Comparative advantage in the production of a good is one that incurs the lower opportunity cost.
Country with Absolute advantage is county that produces the most quantity of a good or service.
Therefore;
US has Absolute advantage in both Computer chips and Bed linens.
South Korea has comparative advantage in Computer chips.
US has comparative advantage in bed linen manufacturing.
The standard costs and actual costs for direct materials for the manufacture of 3,000 actual units of product are as follows: Standard Costs Direct materials 1,040 kilograms at $8.75 Actual Costs Direct materials 2,000 kilograms at $8.00 The direct materials price variance is a.$2,750 favorable b.$2,750 unfavorable c.$1,500 unfavorable d.$1,500 favorable
Answer:
$2,250 favorable
Explanation:
The direct material price variance is computed as;
= ( Standard price - Actual price ) × Actual quantity
Given that;
Standard price = $8.75
Actual price = $8
Actual quantity = 3,000 units
Direct material price variance
= ( $8.75 - $8 ) × 3,000
= ( $0.75 ) × 3,000
= $2,250 favorable
Sheridan Company purchased a depreciable asset for $567000. The estimated salvage value is $29000, and the estimated useful life is 10000 hours. Carson used the asset for 1700 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset in the current year
Answer:
Annual depreciation= $91,460
Explanation:
Giving the following information:
Purchase price= $567,000
Salvage value= $29,000
Useful life in hours= 10,000
To calculate the depreciation per year using the activity method, we need to use the following formula:
Annual depreciation= [(original cost - salvage value)/useful life of production in hours]*hours operated
Annual depreciation= [(567,000 - 29,000) / 10,000]*1,700
Annual depreciation= 53.8*1,700
Annual depreciation= $91,460
Pfizer Inc., a pharmaceutical company, reported Net income for fiscal 2007 of $8,144 million, Retained earnings at the start of the year of $49,669 million and dividends of $8,153 million. If there were no other transactions during the year that affected retained earnings, what was the balance of retained earnings at the end of the year
Answer:
$49,660 million
Explanation:
The computation of retained earnings at the end of the year is shown below;
= Beginning retained earnings + Net income - Dividends
Given that;
Beginning retained earnings = $49,669 million
Net income = $8,144million
Dividend = $8,153
Balance of retained earnings at the end of the year
= $49,669 + $8,144 - $8,153
= $49,660 million
A conceptual framework is an analytical tool with several variations and contexts. It can be applied in different categories of work where an overall picture is needed. It is used to make conceptual distinctions and organize ideas.
Incomplete question. I inferred you want to know if it is true or false.
Answer:
True
Explanation:
This term is often used in research by researchers to explain the reason for the hypotheses and conclusions made their work, etc. In other words, the conceptual framework paints a clearer/overall explanation of an idea.
For example, if an invention is made of a Car that uses water as fuel; such an invention must have a conceptual framework document explaining the idea behind that.
The average wage of workers increases in a purely competitive industry. This change will result in (I) increase in marginal cost for the firms in the industry (II) increase in average variable cost for firms in the industry (III) increase in average fixed cost for firms in the industry (IV) increase in the industry supply curve
Answer:
The correct option is (I) increase in marginal cost for the firms in the industry
Explanation:
According to the given scenario, when there is a rise in increase in the workers wages in a purely competitive industry so the production cost would also rise that results in an increment in the marginal cost also the maximize profit arises when the marginal cost is equivalent to the marginal revenue
Therefore as per the given scenario, the correct option is (I)
Yanita Company, an IFRS reporting firm, has three bank accounts. The respective account balances are as follows: Account 1: $50,000; Account 2: $70,000; Account 3: $(10,000). Consistent with IFRS, cash and cash equivalents are equal to:
Answer:
Consistent with IFRS, cash and cash equivalents are equal to:
$110,000.
Explanation:
a) Data and Calculations:
Account 1: $50,000
Account 2: $70,000
Account 3: $(10,000)
Total $110,000
b) Yanita's cash and cash equivalents are the assets that are cash or can be converted into cash immediately, which include bank accounts and marketable securities such as commercial paper and short-term government bonds. Under IFRS, cash and cash equivalents also include bank overdrafts, which are recorded under current liabilities on the Balance Sheet. However, under US GAAP, bank overdrafts are not treated as part of the cash and cash equivalents. This implies that under US GAAP, Yanita's cash and cash equivalents would be totaling $120,000.
An overstatement of inventory account on the financial statements means that the __________ account on the financial statements is understated. g
Answer: Cost of Gods Sold
Explanation:
The Cost of Goods sold in the income statement is calculated thus;
= Opening inventory + Purchases - Closing stock
Looking at the formula above, one can see that closing stock reduces the Cost of Goods sold. If inventory is therefore overstated, it would reduce Cost of Goods sold more than it should which would result in the Cost of Goods sold being understated.
Suppose labour is available to a firm at a cost of $ 15per hour. Also, suppose that employing another hour of labour adds 3 units to output, and any amount of output can be sold for $10 per unit.
To the nearest dollar, an additional hour of labour would add $___
nothing in additional revenue to the firm. Your answer should be a whole number.
Answer:
$30
Explanation:
Additional hour gives 3 units of output. Each is sold for $10. The total revenue for the additional labour hour would be 3 units x $10 for each.
=$10 x 3
=$30
Bob is angry at his company XYZ Corp. since his annual bonus was too small. Bob who has authority to sign checks on behalf of XYZ decides to get even by creating an employee, Steven Even. Bob writes a check to Steven on XYZ's checking account, signs it and then he indorses it with Steven's name and deposits it an account he has opened in Steven Even's name and the check clears. XYZ finds out and wants to hold the bank liable for paying the check since there was a forged indorsement. Which of the following is true? a) The bank needs to pay because when there is a forged indorsement, the first person to take the instrument with the forged indorsement is liable. b) The bank needs to pay because of the imposter rule. c) The bank only needs to pay if the check was for more than $500. d) The bank does not need to pay because of the fictitious payee rule.
Answer:
d) The bank does not need to pay because of the fictitious payee rule.
Explanation:
Here, the instrument is issued to a payee who has no interest in instrument and thus it is referred as fictitious payee. According to UCC's fictitious payee rule, the indorsement to fictitious payee is not considered forgery. In this case, the maker or drawer of instrument is liable for it. The drawer bank and collecting bank both are not liable for it.
If two identifiable markets differ with respect to their price elasticity of demand and resale is impossible, a firm with market power will Group of answer choices Set price equal to marginal cost in both markets. Set price so as to equate the elasticity of demand across markets. Set a higher price in the market that is more elastic. Set a lower price in the market that is more price elastic.
Answer: Set a lower price in the market that is more price elastic.
Explanation:
It would be in the best interest of the firm with market power to set a lower price if the market is more price elastic.
Price elasticity is the measure of how much quantity demanded changes in response to a change in price.
If the firm with market power sets a lower price in a market that is more price elastic, it can expect that the quantity demanded will increase more which can give a higher profit.