Conflict and conflict resolutions happens often in the workplace.
Mary Parker Follett shared with us the point of integrative
conflict resolution where both parties indicate their preference(s)
and then work together to find a solution for both. The
alternative is to dominate the other party
Please find and share an article (copy and paste Web URL into
your discussion) that outlines an example of integrative conflict
resolution where both parties indicated their preferences and
worked towards a resolution together. You must cite the
- textbook and utilize exhibit 2.6 in our textbook to support your
discussion post.
Also, please outline your feedback from the article i.e. why you
selected the article and how it resonated with you.
Your initial discussion post must be 150 words in length.

Answers

Answer 1

I found an article titled "Integrative Conflict Resolution: A Case Study" by Robert I. Field, which provides an in-depth example of how integrative conflict resolution was used to resolve a dispute between a healthcare provider and an insurance company. The article details the specific steps taken by both parties to understand each other's perspectives and preferences, and how they worked together to find a mutually beneficial solution.

I selected this article because it provides a clear and practical example of how integrative conflict resolution can be applied in a real-world setting. The case study format allows the reader to understand the specific challenges that were faced by the healthcare provider and the insurance company, and how they were able to overcome them through collaboration.

The article resonated with me because it illustrates the importance of active listening and mutual understanding in conflict resolution. It emphasizes the need for both parties to clearly express their preferences and concerns, and to work towards a solution that addresses the needs of both. The article also highlights the benefits of integrative conflict resolution, such as increased satisfaction, improved relationships, and greater long-term stability.

Overall, the article is a valuable resource for anyone interested in learning about integrative conflict resolution, and serves as an excellent example of how this approach can be used to resolve disputes in the workplace. It teaches the importance of understanding and actively listening to the other party's concerns and preferences, and how to collaborate effectively to find a solution that addresses everyone's needs.


Related Questions

Tamarisk Leasing Company agrees to lease equipment to Vaughn Corporation on January 1, 2020. The following information relates to the lease agreement.

1. The term of the lease is 7 years with no renewal option, and the machinery has an estimated economic life of 9 years.
2. The cost of the machinery is $541,000, and the fair value of the asset on January 1, 2020, is $760,000.
3. At the end of the lease term, the asset reverts to the lessor and has a guaranteed residual value of $45,000. Vaughn estimates that the expected residual value at the end of the lease term will be 45,000. Vaughn amortizes all of its leased equipment on a straight-line basis.
4. The lease agreement requires equal annual rental payments, beginning on January 1, 2020.
5. The collectibility of the lease payments is probable.
6. Tamarisk desires a 10% rate of return on its investments. Vaughn’s incremental borrowing rate is 11%, and the lessor’s implicit rate is unknown.

(Assume the accounting period ends on December 31.)

Click here to view factor tables.

Discuss the nature of this lease for both the lessee and the lessor.

This is a operating leasesales-type leasefinance lease for Vaughn.

This is a sales-type leaseoperating leasefinance lease for Tamarisk.

eTextbook and Media

List of Accounts





Calculate the amount of the annual rental payment required. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,972.)

Annual rental payment
$

eTextbook and Media

List of Accounts





Compute the value of the lease liability to the lessee. (Round present value factor calculations to 5 decimal places, e.g. 1.25124 and the final answer to 0 decimal places e.g. 58,972.)

Present value of minimum lease payments
$

eTextbook and Media

List of Accounts





Prepare the journal entries Vaughn would make in 2020 and 2021 related to the lease arrangement. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places e.g. 58,972. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

1/1/2012/31/201/1/2112/31/21

(To record the lease.)

(To record lease payment.)

1/1/2012/31/201/1/2112/31/21

(To record amortization.)

(To record interest.)

1/1/2012/31/201/1/2112/31/21

1/1/2012/31/201/1/2112/31/21

(To record amortization.)

(To record interest.)

eTextbook and Media

List of Accounts





Prepare the journal entries Tamarisk would make in 2020 and 2021 related to the lease arrangement. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places e.g. 58,972. Record journal entries in the order presented in the problem.)

Date

Account Titles and Explanation

Debit

Credit

1/1/2012/31/201/1/2112/31/21
(To record the lease.)

1/1/2012/31/201/1/2112/31/21
(To record lease payment.)

1/1/2012/31/201/1/2112/31/21

1/1/2012/31/201/1/2112/31/21

1/1/2012/31/201/1/2112/31/21

Answers

Answer:

1. Finance lease to Vaughn Corporation

Sales-type lease

2. Annual Rental = $ 137,604

3. Lease Liability = $ 741,418

4. Vaughn Corporation.

2020

Jan. 1

Dr Lease Equipment $741,418

Cr Lease Liability $741,418

Jan. 1

Dr Lease Liability $137,064

Cr Cash $137,064

Dec. 31

Dr Depreciation Expense $99,488

Cr Accumulated Depreciation - Finance Lease $99,488

Dec. 31

Dr Interest Expense $66,479

Cr Interest Payable $66,479

2021

Jan. 1

Dr Lease Liability $70,585

Dr Interest Payable $66,479

Cr Cash $137,064

Dec. 31

Dr Depreciation Expense $99,488

Dr Accumulated Depreciation - Finance Lease $99,488

Dec. 31

Dr Interest Expense $58,715

Dr Interest Payable $58,715

5. Tamarisk Leasing Company.

2020

Jan. 1

Dr Lease Receivable $760,000

Dr Cost of Goods Sold $541,000

Cr Sales Revenue $760,000

Cr Inventory $541,000

Jan. 1

Dr Cash $137,064

Cr Lease Receivable $137,064

Dec. 31

Dr Interest Receivable $62,294

Cr Interest Revenue $62,294

2021

Jan. 1

Dr Cash $137,064

Cr Lease Receivable $74,770

Cr Interest Receivable $62,294

Dec. 31

Dr Interest Receivable $54,817

Cr Interest Revenue $54,817

Explanation:

1. Discussion of the nature of this lease for both the lessee and the lessor.

(i) Based on the information given it is a Finance lease to Vaughn Corporation reason been that the term of the lease is higher than 75% of the leased asset economic life based on the fact that the term of the leaseis 78% calculated as (7/9).

(ii) Based on the information given Tamarisk Leasing Company reason been the lease payments can be predictable because their are no uncertainties concerning the costs that is yet to be incurred by the lessor, and secondly the term of the lease is higher than 75% of the asset’s economic life because the amount of $ 760,000 of the equipment is above the lessor’s cost of the amount of $ 541,000 which is why the lease is a Sales-type lease

2. Calculation of Annual Rental Payment

Annual Rental = {FV - (RV * PVF(n=7 years, r=10%))} / PVADF(n=7 years, r=10%)

Annual Rental = {$ 760,000 - ($ 45,000 * 0.51316} / 5.35526

Annual Rental = $ 137,604

3. Calculation of Lease Liability to the Lessee.

First step

Present Value of Annual Payments = $ 137,604 * PVADF(n= 7 years, r=11%)

Present Value of Annual Payments = $ 137,604 *5.23054

Present Value of Annual Payments = $ 719,743

Present Value of Guaranteed Residual Value = $ 45,000 * PVF(n= 7 years, r=11%)

Present Value of Annual Payments = $ 45,000 * .48166

Present Value of Annual Payments = $ 21,675

Hence,

Lease Liability = $ 719,743 + $ 21,675

Lease Liability = $ 741,418

4. Preparation of the Journal Entries for Vaughn Corporation.

2020

Jan. 1

Dr Lease Equipment $741,418

Cr Lease Liability $741,418

Jan. 1

Dr Lease Liability $137,064

Cr Cash $137,064

Dec. 31

Dr Depreciation Expense $99,488

Cr Accumulated Depreciation - Finance Lease $99,488

($ 741418 - $ 45,000) ÷ 7 years

Dec. 31

Dr Interest Expense $66,479

Cr Interest Payable $66,479

($ 741418 - $ 137,064) * 11%

2021

Jan. 1

Dr Lease Liability $70,585

Dr Interest Payable $66,479

Cr Cash $137,064

Dec. 31

Dr Depreciation Expense $99,488

Dr Accumulated Depreciation - Finance Lease $99,488

Dec. 31

Dr Interest Expense $58,715

Dr Interest Payable $58,715

($ 741418 - $ 137,064 - $ 70,585) * 11%

5. Preparation of the Journal Entries for Tamarisk Leasing Company.

2020

Jan. 1

Dr Lease Receivable $760,000

Dr Cost of Goods Sold $541,000

Cr Sales Revenue $760,000

Cr Inventory $541,000

Jan. 1

Dr Cash $137,064

Cr Lease Receivable $137,064

Dec. 31

Dr Interest Receivable $62,294

Cr Interest Revenue $62,294

($ 760,000 - $ 137064) * 10%

2021

Jan. 1

Dr Cash $137,064

Cr Lease Receivable $74,770

Cr Interest Receivable $62,294

Dec. 31

Dr Interest Receivable $54,817

Cr Interest Revenue $54,817

($ 760,000 - $ 137064 - $ 74,770) * 10%

Games Galore Corporation hires Amanda, a minor, to create new customized game software for certain clients. Amanda signs a contract that requires her to work for Games Galore for eighteen months. Before beginning work, however, Amanda tells Games Galore that she will not create new software for Games Galore and that she is going to work for Ideal Worldcraft, Inc., a Games Galore competitor. Answer the following questions, providing the reasoning/analysis behind your conclusions, i.e. list the applicable rule/law, and apply the facts to the rule to reach a conclusion. You can also argue in the alternative.
(a) Is Games Galore’s contract with Amanda enforceable?
(b) Why or why not?

Answers

Answer and Explanation:

According to the question the contract is valid but the same would not be enforceable as Amanda is a minor. As a minor her consent is not valid completely but if there is any violation on Games Galore so the same would be penalized that results the contract to be enforceable. For minors, the guardian is necessary

So being a minor the contract would not be enforceable although she accepts the terms and condition of 18 months

The Cheyenne Hotel in Big Sky, Montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. An occupancy-day represents a room rented for one day. The hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer.

Month Occupancy-Days Electrical Costs
January 1,736 $4,127
February 1,904 $4,207
March 2,356 $5,083
April 960 $2,857
May 360 $1,871
June 744 $2,696
July 2,108 $4,670
August 2,406 $5,148
September 840 $2,691
October 124 $1,588
November 720 $2,454
December 1,364 $3,529

Required:
a. Using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day.
b. What other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month?

Answers

Answer:

Total cost= 1,395 + 1.56x

x= number of units of activity

Explanation:

To calculate the unitary and fixed costs, we need to use the following formulas:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (5,148 - 1,588) / (2,406 - 124)

Variable cost per unit= $1.56

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 5,148 - (1.56*2,406)

Fixed costs= $1,395

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 1,588 - (1.56*124)

Fixed costs= $1,395

The total cost is given by:

Total cost= 1,395 + 1.56x

x= number of units of activity

The electrical costs can vary with the season. In summer a higher electricity use is required to cool down the rooms and, some artifacts such as freezers and refrigerators usage increase. In winter the days are shorter, artificial lighting increases.

the majority of retailers are what​

Answers

small businesses is what i believe it is, not a lot of context..

sally borrowed $1000 from her friend monique two years ago. their arrangement required sally to repay $250 each year for the subsequent four years. Today with two paymewnts remaining on the loan, Sally offers to repay the loan with a single payment of $475. Assuming no change in interest rates throughout the entire time, should monique accept the signle $475 payment today, why or why not

Answers

Answer:

a

Explanation:

Here are the options to this question :

A. yes, 475 is more than the PV of the two remaining payments

B. More information is needed to decide

C. Monique is indifferent between the options, the PVs are equivalent

D. No, the PV of the remaining two payments is more than 475

We have to determine the present value of the remaining two payments and compare the options

Present value is the sum of discounted cash flows

Present value can be calculated using a financial calculator

Cash flow in year 1 = 0

Cash flow in year 2 = 0

Cash flow in year 3 = 250

Cash flow in year 4 = 250

I = 2%

PV = $466.54

$475  is greater than $466.54. Therefore, she should accept the single $475 payment

To find the PV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

The level of analysis for the Industry environment is the _____ level:

Answers

Luv I don’t know sorry very sorry

On December 31, Year 2, Morgan Company had the following normal account balances in its general ledger. Use this information to prepare a trial balance.

Land $18,000
Unearned revenue 16,200
Dividends 5,200
Prepaid rent 6,850
Cash 59,010
Salaries expense 12,500
Accounts payable 1,940
Common stock 23,000
Operating expense 13,800
Office supplies 1,900
Advertising expense 2,100
Retained earnings, Beginning 14,300
Service revenue 70,720
Accounts receivable 6,800

Answers

Answer and Explanation:

The preparation of the trial balance is given below:

Particulars                   Debit amount           Credit amount

Land                            $18,000

Unearned revenue                                       $16,200

Dividend                      $5,200

Prepaid rent                 $6,850

Cash                            $59,010

Salaries expense       $12,500

Account payable                                            $1,940

Common stock                                              $23,000

Operating expense     $13,800

Office supplies             $1,900

Advertising expense  $2,100

Retained earnings                                        $14,300

Service revenue                                          $70,720

Account receivable       $6,800

Totals                             $126,160             $126,160

Gross Domestic Product (GDP) can be defined as: I. The sum of all incomes while adjusting for indirect business taxes and foreign incomes. II. The market value of goods and services sold in an economy in some time period. III. The total market value of final goods and services produced in an economy in some time period. III only I and II only I, II and III II and III only I and III only

Answers

Answer:

I and III only

Explanation:

The full form of GDP is Gross domestic product. It is the sum of all the income at the time when the business taxes i.e. indirect and the foreign incomes would be adjusted also it is a sum total of market value of the goods and services i.e. final generated in an economy for a time period

Therefore the I and III statements are true

Abigail has just signed a 5-year lease for her new business. The full annual lease amount is due at the beginning of every year and such cash flows have been agreed to be 20,156 dollars now and the subsequent payments to increase by 5% per year until maturity. Given that the prevailing average market interest rate is 8% per year compounded monthly, compute the present value of this financial asset. (note: round your answer to the nearest cent and do not include spaces, currency signs, or commas)

Answers

Answer: $93,088

Explanation:

Rate is compounded monthly which makes it:

= 8% / 12

= 0.6667%

= 0.006667

The payment of $20,156 is to increase yearly at a rate of 5%. Payments are at the beginning of the period so the first payment does not have to be discounted.

[tex]= 20,156 + \frac{20,156 * 1.04}{(1 + 0.006667)^{12} } + \frac{20,156 * 1.04^{2} }{(1 + 0.006667)^{24} } + \frac{20,156 * 1.04^{3} }{(1 + 0.006667)^{36} } + \frac{20,156 * 1.04^{4} }{(1 + 0.006667)^{48} }\\\\= 20,156 + 19,355.65 + 18,587.08 + 17,849.02 + 17,140.27\\\\= 93,088.02[/tex]

= $93,088

WFO Corporation has gross receipts according to the following schedule:
Year 1

$22.00 million

Year 2

$24.00 million

Year 3

$26.00 million

Year 4

$24.50 million

Year 5

$25.00 million

Year 6

$27.00 million

If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

Answers

Answer:

WFO Corporation

Given WFO Corporation's annual gross receipts, which exceed $20 million, it is expected to use the accrual basis starting from Year 1, whether it is a C-Corporation or an S-Corporation.

Explanation:

a) Data and Calculations:

Gross Receipts:

Year 1     $22.00 million

Year 2    $24.00 million

Year 3    $26.00 million

Year 4    $24.50 million

Year 5   $25.00 million

Year 6   $27.00 million

b) For a C-Corporation, when the average gross receipts for the past three years exceed $5 million, the corporation is expected to change from cash basis to accrual basis.  Assuming that WFO Corporation is an S-Corporation, it is expected to change to the accrual basis if its annual gross receipts exceed $10 million.

Because most of the parts for its irrigation systems are standard, Waterways handles the majority of its manufacturing as a process cost system. There are multiple process departments. Three of these departments are the Molding, Cutting, and Welding departments. All items eventually end up in the Packaging Department, which prepares items for sale in kits or individually. The following information is available for the Molding department for January.

Work in process beginning:
Units in process 24,100
Stage of completion for materials 80%
Stage of completion for labor and overhead 30%
Costs in work in process inventory:
Materials $168,470
Labor 68,020
Overhead 17,160
Total costs in beginning work in process $253,650
Units started into production in January 59,800
Units completed and transferred in January 58,300
Costs added to production: Materials $281,593
Labor 311,150
Overhead 60,120
Total costs added into production in January $652,863
Work in process ending:
Units in process 25,600
Stage of completion for materials 50%
Stage of completion for labor and overhead 10%

Required:
Prepare a production cost report for Waterways using the weighted-average method.

Answers

Answer:

Waterways

Molding Department

Production Cost Report

Total costs of production:

                                                Units     Materials      Conversion      Total

Costs in work in process inventory:    $168,470        $85,180     $253,650

Units started in January                      $281,593        371,270     $652,863

Total costs of production                   $450,063    $456,450      $906,513

Equivalent units of production:

                                                      Units     Materials      Conversion

Units completed & transferred 58,300       58,300           58,300

Work in process ending:           25,600        12,800              2,560

                                                                 (25,600*50%)    (25,600*10%)

Total equivalent units                                    71,100            60,860

Cost per equivalent unit:

                                                  Materials      Conversion

Total costs of production        $450,063       $456,450

Total equivalent units                    71,100           60,860

Cost per equivalent unit                $6.33             $7.50

Costs Assigned to units:

                                                              Materials      Conversion  Total

Cost per equivalent unit                          $6.33              $7.50

Units started and completed (58,300)  $369,039     $437,250  $806,289

Work in Process, ending   12,800/2,560    81,024          19,200     100,224

Total costs assigned                              $450,063     $456,450  $906,513

Explanation:

a) Data and Calculations:

                                                Units     Materials      Conversion      Total

Work in process beginning:   24,100       80%               30%  

Costs in work in process inventory:    $168,470        $85,180     $253,650

Labor 68,020

Overhead 17,160

Units started in January      59,800   $281,593        371,270    $652,863

Units transferred                 58,300  

Labor 311,150

Overhead 60,120  

Work in process ending:     25,600        50%                10%

Financial Statements of a Manufacturing Firm The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: Purchased $250,000 of materials. Used $180,000 of direct materials in production. Incurred $450,000 of direct labor wages. Incurred $180,000 of factory overhead. Transferred $760,000 of work in process to finished goods. Sold goods for $1,200,000. Sold goods with a cost of $675,000. Incurred $215,000 of selling expense. Incurred $125,000 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 $fill in the blank b5f0e3f6afbdf9c_2 fill in the blank b5f0e3f6afbdf9c_4 $fill in the blank b5f0e3f6afbdf9c_6 Operating expenses: $fill in the blank b5f0e3f6afbdf9c_8 fill in the blank b5f0e3f6afbdf9c_10 Total operating expenses fill in the blank b5f0e3f6afbdf9c_11 $fill in the blank b5f0e3f6afbdf9c_13 b. Determine the inventory balances at the end of the first month of operations. Sorensen Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31: Materials $fill in the blank d1d32afb2ff9fae_1 Work in process fill in the blank d1d32afb2ff9fae_2 Finished goods fill in the blank d1d32afb2ff9fae_3

Answers

Answer:

A. $185,000

B. Raw material $70,000

Work in process $50,000

Finished goods $85,000

Explanation:

A. Preparation of the January income statement for Sorensen Manufacturing Company

Sorensen Manufacturing Company

Income statement

Sales $1,200,000

Cost of goods sold $675,000

Gross profit $525,000

Operating expense

Selling expense $215,000

Administrative expense $125,000

Total operating expense $340,000

($215,000+$125,000)

Operating income $185,000

($525,000-$340,000)

B. Calculation to Determine the inventory balances at the end of the first month of operations.

Sorensen Manufacturing Company

Inventory Balances For the Month Ended January 31

Raw material =$250,000-$180,000

Raw material =$70,000

Work in process =$180,000+$450,000+$180,000-$760,000

Work in process =$50,000

Finished goods =$760,000-$675,000

Finished goods=$85,000

Ridgewood, Inc. manufactures upholstery fabric and uses process costing. In the Weaving Department, direct materials are added at the beginning of the process, and conversion costs are added evenly throughout the process. During the month, the Weaving Department used $280,000 of direct materials and $70,000 of conversion costs. At the end of the month, 10,000 equivalent units of direct materials and 9,000 equivalent units of conversion costs had been used. What is the cost per equivalent unit for conversion costs

Answers

Answer:

See below

Explanation:

Suppose that you are running a business and you need some extra space for one year. Your bank offers you a loan of $200,000 at 0% interest. You consider borrowing this amount, buying the building, using it for one year, and then selling the building to pay back the loan. Unfortunately, the economy in which you are operating is experiencing deflation at a rate of 10% per year.

After one year, you should be able to sell the building for _.

Suppose that owning the building for a year would earn you $5,000. To decide whether or not you will be better off by owning it for one year and then selling it, you sought advice from three different people: (1) Your brother says that you should not buy the building because in one year it will cost you $100,000. (2) Your accountant says that you should definitely buy the building because you can borrow $100,000 at zero interest while the building will generate $5,000 in extra income. Then when you sell it, you will be $5,000 richer. (3) Your bookkeeper says that if you sell the building in a year, you will have to come up with more money to pay off the loan than you will make in extra income.

Keeping in mind that the economy experiences deflation at the rate of 10%, yourbookkeeper is right because: ________

a. When the nominal interest rate is zero, you do not incur any cost when you take out a loan.
b. The extra income you will earn will be less than the cost of owning the building for the year.
c. When the nominal interest rate is zero, the cost of a building is its full purchase price

Answers

Answer:

a. $180,000

b. The extra income you will earn will be less than the cost of owning the building for the year.

Explanation:

a) Data and Calculations:

Bank loan = $200,000

Interest rate = 0%

Cost of building = $200,000

Deflation rate = 10%

After one year, the price of the building will reduce to $180,000 ($200,000 * 90%)

So with deflation rate of 10%, you should be able to sell the building for only $180,000.

Expected revenue from owning the building for a year = $5,000

Cost of owning the building for a year = $20,000 ($200,000 - $180,000)

Therefore, the cost of owning the building for a year outstrips the revenue from owning the building by $15,000 ($20,000 -$5,000)

The Correct Answer is: a. $180,000

b. When The extra income you will earn then will be less than the cost of owning the building for the year.

Explanation:

                a) When Data and Calculations:Then Bank loan = $200,000After that Interest rate = 0%Then Cost of building = $200,000Now Deflation rate = 10%Now After that one year, the price of the building will be reduce to $180,000 ($200,000 * 90%)So with deflation rate of 10%, you should be able to sell the building for only that is $180,000.

When the Expected revenue from owning the building for a year = $5,000

After that the Cost of owning the building for a year = $20,000 ($200,000 - $180,000)So thus that Therefore, the cost of owning the building for a year outstrips the revenue from owning the building by $15,000 ($20,000 -$5,000)

Learn more about:

https://brainly.com/question/23160597

Compute the (a) cost of products transferred from weaving to sewing, (b) cost of products transferred from sewing to finished goods, and (c) cost of goods sold. 2. Prepare journal entries dated June 30 to record (a) goods transferred from weaving to sewing, (b) goods transferred from sewing to finished goods, (c) sale of finished goods, and (d) cost of goods sold

Answers

Question Completion:

The following information applies to Pro-Weave manufactures stadium blankets by passing the products through a weaving department and a sewing department. The following information is available regarding its June inventories:

                                                                 Beginning          Ending

                                                                  Inventory         Inventory

Raw materials inventory                        $ 120,000         $ 185,000

Work in process inventory-Weaving       300,000            330,000

Work in process inventory-Sewing        570, 000            700,000

Finished goods inventory                     1,266,000          1,206,000

         

The following additional information describes the company's manufacturing activities for June:

Raw materials purchases (on credit) $500,000

Factory wages cost (paid in cash) 3,060,000

Other factory overhead cost (other Accounts credited) 156, 000

Materials used:

Direct-Weaving  $ 240, 000

Direct-Sewing  75,000

Indirect  120,000

Labor used:

Direct-Weaving $1,200, 000

Direct-Sewing  360,000

Indirect 1,500,000

Overhead rates as a percent of direct labor:

Weaving Sewing

  80%      150%

Sales (on credit) $4,000,000

Answer:

Pro-Weave

1. Computation of:

a) Cost of products transferred from Weaving to Sewing = $2,370,000

b) Cost of products transferred from Sewing to Finished Goods = $3,215,000

c) Cost of Goods Sold = $3,275,000

2. Journal Entries on June 30 to record:

(a) goods transferred from weaving to sewing

Debit WIP: Sewing $2,370,000

Credit WIP: Weaving $2,370,000

To transfer goods from weaving to sewing.

(b) goods transferred from sewing to finished goods

Debit Finished Goods Inventory $3,215,000

Credit WIP: Sewing $3,215,000

To transferred goods from sewing to finished goods.

(c) sale of finished goods, and

Debit Accounts Receivable $4,000,000

Credit Sales Revenue $4,000,000

To record the sale of goods on credit.

(d) cost of goods sold

Debit Cost of Goods Sold $3,275,000

Credit Finished Goods Inventory $3,275,000

To record the cost of goods sold.

Explanation:

a) Data and Calculations:

Items                                           Weaving           Sewing     Finished Goods

Beginning Inventory                $ 300,000       $570,000     $1,266,000

Direct materials                          240,000            75,000

Direct labor                              1,200,000          360,000

Overhead applied:

(1,200,000 * 80%)                      960,000

($360,000 * 150%)                                             540,000

Cost of Weaving                   $2,700,000                        

Less Ending Inventory               330,000  

Transferred to Sewing        ($2,370,000)     2,370,000

Total cost of Sewing                                      $3,915,000

Less Ending Inventory                                       700,000

Transferred to Finished Goods                  ($3,215,000)        3,215,000

Goods available for sale                                                        $4,481,000

Less Ending Inventory                                                             1,206,000

Cost of Goods Sold                                                              $3,275,000

Manufacturing overhead actually incurred:

Indirect materials  120,000

Indirect labor     1,500,000

Total incurred   1,620,000

Marigold Corp. applies overhead on the basis of machine hours. Given the following data, compute overhead applied and the under- or overapplication of overhead for the period:

Estimated annual overhead cost $1400000
Actual annual overhead cost $1375000
Estimated machine hours 500000
Actual machine hours 490000

a. $1372000 applied and $3000 overapplied
b. $1400000 applied and $3000 overapplied
c. $1372000 applied and $3000 underapplied
d. $1375000 applied and neither under-nor overapplied

Answers

Answer:

World biggest Logic To solve anything

a. On April 1, the company hired an attorney for a flat monthly fee of $2,000. Payment for April legal services was made by the company on May 12.
b. As of April 30, $2,559 of interest expense has accrued on a note payable. The full interest payment of $7,677 on the note is due on May 20.
c. Total weekly salaries expense for all employees is $8,000. This amount is paid at the end of the day on Friday of each five-day work week. April 30 falls on a Tuesday, which means that the employees had worked two days since the last payday. The next payday is May 3.

Required:
The above three separate situations require adjusting journal entries to prepare financial statements as of April 30. For each situation, present both the April 30 adjusting entry and the subsequent entry during May to record payment of the accrued expenses.

Answers

Answer:

Apr 30

Dr Legal fees expense $2,000

Cr Legal fees payable $2,000

May 12

Dr Legal fees payable $2,000

Cr Cash $2,000

Apr 30

D Interest expense $2,559

Cr Interest payable $2,559

May 20

Dr Interest expense $5,118

Dr Interest payable $2,559

Cr Cash $7,677

Apr 30

Dr Salaries expense $3,200

Cr Salaries payable $3,200

May 03

Dr Salaries expense $4,800

Dr Salaries payable $3,200

Cr Cash $8,000

Explanation:

Preparation of the adjusting journal entries to prepare financial statements as of April 30 and the subsequent entry during May to record payment of the accrued expenses.

Apr 30

Dr Legal fees expense $2,000

Cr Legal fees payable $2,000

May 12

Dr Legal fees payable $2,000

Cr Cash $2,000

Apr 30

D Interest expense $2,559

Cr Interest payable $2,559

May 20

Dr Interest expense $5,118

($7,677- $2,559)

Dr Interest payable $2,559

Cr Cash $7,677

Apr 30

Dr Salaries expense $3,200

($8,000*2/5)

Cr Salaries payable $3,200

May 03

Dr Salaries expense $4,800

($8,000*3/5)

Dr Salaries payable $3,200

($8,000*2/5)

Cr Cash $8,000

The United Kingdom plans to end the use of gas-powered and diesel-powered cars by the year 2040. At the same time, car manufacturers, such as General Motors and Nissan, are increasing the number of electric car models they produce. Based on this information, which of the following statements is/are correct?

i. If the supply of new electric cars is greater than the demand for new electric cars, then the price of electric cars will fall in the future.
ii. The demand for gasoline will fall in the future.
iii. The demand for electricity will rise in the future.
iv. The demand for diesel will rise in the future.

a. (i) and (ii)
b. only (i)
c. (ii) and (iv)
d. (i), (ii) and (iii)

Answers

Answer:

d. (i), (ii) and (iii)

i. If the supply of new electric cars is greater than the demand for new electric cars, then the price of electric cars will fall in the future. ii. The demand for gasoline will fall in the future. iii. The demand for electricity will rise in the future.

Explanation:

Currently electric cars are expensive because their supply is very limited, but if the supply increases, their price should fall.

Since less cars will consume gasoline and diesel, their demand should decrease in the future.

Since more cars will consumer electricity, its demand should increase in the future.

Matrix Inc. calculates cost for an equivalent unit of production using the weighted-average method.

Data for July:

Work-in-process inventory, July 1 (40,000 units):
Direct materials (92% completed) $122,800
Conversion (58% completed) 77,250
Balance in work in process inventory, July 1 $200,050
Units started during July 94,000
Units completed and transferred 109,600
Work-in-process inventory, July 31:
Direct materials (92% completed) 24,400
Conversion (58% completed) Cost incurred during July:
Direct materials $184,000
Conversion costs 292,000

Required:
a. Cost per equivalent unit for materials under the weighted-average method is calculated to be:______
b. Cost per equivalent unit for conversion under the FIFO method is calculated to be:_______

Answers

Answer:

a. $2.32

b. $2.92

Explanation:

Part a

Equivalent Units

Completed and Transferred 109,600 x 100%    109,600

Ending Work In Process 24,400 x 92%               22,448

Equivalent Units with respect to Materials         132,048

Total Materials Cost

Materials cost Beginning Work in Process       $122,800

Add Material Cost incurred during the year     $184,000

Total Material Costs                                           $306,800

Cost per equivalent unit  = Total Materials Cost  ÷ Equivalent Units

                                          = $306,800 ÷ 132,048

                                          = $2.32

Part b

Equivalent Units

To finish OWIP 40,000 x 42%                                           16,800

Started and Completed  (109,000 - 40,000) x 100        69,000

Closing Work in Progress 24,400 x 58%                          14,152

Equivalent units with respect to conversion cost           99,952

Total Conversion Cost

Conversion Cost incurred during the year    $292,000

Total Material Costs

Cost per equivalent unit  = Total Conversion Cost  ÷ Equivalent Units

                                          = $292,000 ÷ 99,952

                                          = $2.92

Quality improvement, relevant costs, relevant revenues. SpeedPrint manufactures and sells 18,000 high-technology printing presses each year. The variable and fixed costs of rework and repair are as follows:
Variable Cost Fixed Cost Total Cost
Rework Cost per hr. $79 $115 $194
Repair Cost
Customer Support cost/hr. 35 55 90
Transportation Cost/load 350 115 465
Warranty repair cost/hour 89 150 239
Speed Print’s current presses have a quality problem that causes variations in the shade of some colors. Its engineers suggest changing a key component in each press. The new component will cost $70 more than the old one. In the next year, however, Speed Print expects that with the new component it will
(1) save 14,000 hours of rework,
(2) save 850 hours of customer support,
(3) move 225 fewer loads,
(4) save 8,000 hours of warranty repairs, and
(5) sell an additional 140 printing presses, for a total contribution margin of $1,680,000. SpeedPrint believes that even as it improves quality, it will not be able to save any of the fixed costs of rework or repair. SpeedPrint uses a 1-year time horizon for this decision because it plans to introduce a new press at the end of the year.
1. Should SpeedPrint change to the new component? Show your calculations.
2. Suppose the estimate of 140 additional printing presses sold is uncertain. What is the minimum number of additional printing presses that SpeedPrint needs to sell to justify adopting the new component?
3. What other factors should managers at SpeedPrint consider when making their decision about changing to a new component?

Answers

Answer:

1. Speed print SHOULD CHANGE to the new component

2. Since the new components incremental cost of the amount of $1,260,000 is lesser than the incremental savings of the amount of $1,926,500 which means that it will be of benefit if SpeedPrint invest in the new component.

3. Nonfinancial factors

Explanation:

1. Calculation to show whether Speed print

should change to the new component

First step is to calculate the Relevant costs

Relevant costs = $70 *18,000 copiers

Relevant costs= $1,260,000

Second step is to calculate Relevant Benefits

RELEVANT BENEFITS

Savings in rework costs $1,106,000

($79 *14,000 hours)

Add Savings in customer-support costs $29,750

($35 *850 hours)

Add Savings in transportation costs for parts $78,750

($350 *225 fewer loads)

Add Savings in warranty repair costs $712,000

($89 *8,000 repair-hours)

Add Contribution margin from increased sales $1,680,000

Cost savings and additional contribution margin $3,606,500

($1,106,000+$29,750+$78,750+$712,000+$1,680,000)

Based on the above calculation relevant benefits of the amount of $3,606,500 is higher than the relevant costs of the amount of $1,260,000 which means that Speed print

SHOULD CHANGE to the new component.

2. Based on the above calculation it shows that the new components incremental cost of the amount of $1,260,000 is lesser than the incremental savings of the amount of $1,926,500 which means that it will be of benefit if SpeedPrint invest in the new component.

Calculation for INCREMENTAL SAVINGS

Savings in rework costs $1,106,000

($79 *14,000 rework hours)

Add Savings in customer-support costs $29,750

($35 *850 customer-support hours)

Add Savings in transportation costs for parts $78,750

($350 *225 fewer loads)

Add Savings in warranty repair costs $712,000

($89 *8,000 repair-hours)

Incremental savings $1,926,500

($1,106,000 + $29,750 + $78,750 + $712,000)

3. The factors that the managers at SpeedPrint should consider when making their decision about changing to a new component will be NON-FINANCIAL FACTORS.

Who Is Lil Loaded i want to know

Answers

Answer:

search it up

Explanation:

Answer:

he is a rapper dude. search it up

Explanation:

On December 1, 2022, Escobar Consulting, which uses a calendar year as its fiscal year, signs a $4,000, 12%, four-month note payable. Journalize the entry to record the payment of the note and entire interest on April 1, 2023.
A. Debit Notes Payable $4,160 Credit Interest Expense 160 Credit Cash $4,000
B. Debit Notes Payable $4,160 Credit Cash $4,160 You got it wrong :
C. Debit Notes Payable $4,000 Debit Interest Expense 160 Credit Cash $4,160 This is correct answer :
D. Debit Notes Payable $4,000 Debit Interest Expense 120 Debit Interest Payable 40 Credit Cash $4,160

Answers

Answer:

D. Debit Notes Payable $4,000 Debit Interest Expense 120 Debit Interest Payable 40 Credit Cash $4,160

Explanation:

The journal entry is shown below:

Note payable Dr $4,000

Interest expense $120  (($4,000 × 12% × 4 months ÷ 12 months) - $40)

Interest payable  $40 ($4,000 × 12% × 4 months ÷ 12 months ÷ 4 month)

     To Cash $4,160

(being cash paid is recorded)

Here the note payable, interest payable and interest expense is debited as it decreased the liabilities and increased the expenses while on the other hand the cash is credited as it decreased the assets

Calculating Earnings per Share Little, Inc., reported earnings of $162,000 for 2013, and at the end of the year, had the following securities outstanding: 60,000 shares of common stock. (The year-end share price was $25 per share). Employee stock options for the purchase of 8,000 common shares at an exercise price of $22 per share. (The options are fully vested).
(a) Calculate the basic earnings per share for Little, Inc. for 2013. Round to two decimal places.
(b) Calculate the diluted earnings per share for Little, Inc. for 2013. Round to two decimal places.

Answers

Answer:

(a) Basic earnings per share = $2.70 per share

(b) Diluted earnings per share = $2.38 per share

Explanation:

(a) Calculate the basic earnings per share for Little, Inc. for 2013. Round to two decimal places.

Basic earnings per share = Earnings / Number of shares of common stock .......... (1)

Where;

Earnings = $162,000

Number of shares of common stock = 60,000

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

Basic earnings per share = $162,000 / 60,000 = $2.70 per share

(b) Calculate the diluted earnings per share for Little, Inc. for 2013. Round to two decimal places.

Diluted earnings per share = Earnings / (Number of shares of common stock +  Number of common shares for employee stock options) ............ (2)

Where;

Earnings = $162,000

Number of shares of common stock = 60,000

Number of common shares for employee stock options = 8,000

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

Diluted earnings per share = $162,000 / (60,000 + 8,000) = $162,000 / 68,000 = $2.38 per share

Answer: See Explanation

Explanation:

a. Calculate the basic earnings per share for Little, Inc. for 201

(Net income - Preferred stock dividend) / Weighted SVF shaers of the common stock outstanding

= ($162,000 - 0) / 60,000

= $162000 / 60000

= $2.70

b. Calculate the diluted earnings per share for Little, Inc. for 2013

= ($162,000 - 0) / (60,000+8,000)

= $162000 / 68000

= $2.38

hello, im stuck. if i could get some ideas for this i will mark you brainliest if i can.

i just need some ideas and maybe an explanation. i don't expect an entire two page thing but just some help pls :((

thanks in advance.

Answers

Answer: so you are giving someone instructions like how to make a sandwich with a lot of detail so someone could do everything you did :)

Explanation:

✪ ω ✪


difference between a public limited liability and private limited liability company

Answers

Answer: A private limited company is a company that is owned privately, while a public limited company has the right to sell shares of it's stock to the public

Explanation:

n

According to the substitution effect of labor supply, when the wage rate goes up: Group of answer choices it becomes more costly to consume leisure, so people will work more. it becomes less costly to consume leisure, so people will work more. the opportunity cost of enjoying leisure goes down. firms will hire more workers since people are more willing to work.

Answers

It becomes more costly to consume leisure—i.e., when wages rise, the cost of not working to earn those higher wages also rises.

According to the substitution effect of labor, firms would hire more workers because people are more willing to work more.

The substitution effect of labor tells us that as income is raised, people would be more willing to give up leisure hours to work more.

This is due to the fact that they would earn more money for the extra hours that they would have spent on leisure.

There would be more willingness to work and the firms would have more people to hire.

Read more on the substitution effect here:

https://brainly.com/question/1319399

Favaz began business at the start of this year and had the following costs: variable manufacturing cost per unit, $9; fixed manufacturing costs, $60,000; variable selling and administrative costs per unit, $2; and fixed selling and administrative costs, $220,000. The company sells its units for $45 each. Additional data follow: Planned production in units10,000 Actual production in units10,000 Number of units sold8,500 There were no variances. The income (loss) under absorption costing is:

Answers

Answer:

$18,000

Explanation:

Calculation for what The income (loss) under absorption costing is:

First step is to calculate the Fixed manufacturing

per unit

Fixed manufacturing per unit = $60,000 ÷ 10,000

Fixed manufacturing per unit= $6

Second step is to calculate per unit cost

Cost Per Unit=$45 − $9 − $2 − $6 ×$ 8,500

Cost Per Unit = $238,000

Now let calculate the income (loss)

Income (loss)= $238,000 − $220,000

Income (loss) = $18,000

Therefore The income (loss) under absorption costing is:$18,000

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,824. Cash receipts yet to be deposited into the checking account total $3,218, and checks written by the academy but not yet processed by the bank total $1,305. The company's balance of cash does not reflect a bank service fee of $23 and interest earned on the checking account of $34. These amounts are included in the balance of cash of $5,922 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021. (Amounts to be deducted should

Answers

Answer:

1. Bank balance per reconciliation $7,835

Company balance per reconciliation $7,835

2. August 31, 2021

Dr Cash $34

Cr Interest revenue $34

August 31, 2021

Dr Service fees expense $23

Cr Cash $23

Explanation:

1. Preparation of a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021 .

BANK CASH BALANCE

Per bank statement $5,922

Add deposit outstanding $3,218

Less check Outstanding ($1,305)

Bank balance per reconciliation $7,835

COMPANY CASH BALANCE

Per general ledger $7,824

Less service fees ($23)

Interest earned $34

Company balance per reconciliation $7,835

Therefore the correct ending balance of cash on August 31, 2021 will be :

Bank balance per reconciliation $7,835

Company balance per reconciliation $7,835

2.Preparation of the necessary entries to adjust the balance for cash

August 31, 2021

Dr Cash $34

Cr Interest revenue $34

August 31, 2021

Dr Service fees expense $23

Cr Cash $23

1. Assume that Lyn Addie is an unmarried employee. Her $1,000 of wages have deductions for FICA Social Security taxes, FICA Medicare taxes, and federal income taxes. Her federal income taxes for this pay period total $159. Compute her net pay for the eight days’ work paid on February 26. (Round your answer to 2 decimal places. Do not round intermediate calculations.)

Answers

Answer:

Net pay $764.5

Explanation:

given data

wages = $1000

income taxes  = $159

solution

particular                              net pay

Gross wages                        $1000

less  

Income taxes withheld         $159

FICA-social security             (1000×6.2%)    = $62

FICA-Medicare taxes           (1000×1.45%)   =       $14.5

Total taxes withheld             (235.5)

So, Net Pay                            $764.5

Dillon Company incurred the following costs while producing 480 units: direct materials, $9 per unit; direct labor, $22 per unit; variable manufacturing overhead, 12 per unit; total fixed manufacturing overhead costs, $7,680; variable selling and administrative costs, $4 per unit; total fixed selling and administrative costs, $4,320. There are no beginning inventories.

What is the unit product cost using variable costing?
A. $72 per unit
B. $59 per unit
C. $47 per unit
D. $43 per unit

Answers

Answer:

The unit cost is $43 per unit

Explanation:

Required

Determine the unit product cost?

Using variable costing, the unit product cost is:

[tex]Unit = DM+ DL + VMO[/tex]

[tex]DM = Direct\ Materials =\$9[/tex]

[tex]DL = Direct\ Labor =\$22[/tex]

[tex]VMO = Variable\ Manufacturing\ Overhead = \$12[/tex]

So, we have:

[tex]Unit = \$9 + \$22 + \$12[/tex]

[tex]Unit = \$43[/tex]

Hence, the unit cost is $43 per unit

Other Questions
Which senses does this passage appeal to? what does the imagery in the passage suggest about caesar? Caitlin concluded that her date was late for dinner because he was an inconsiderate and rude person. her conclusion illustrates:_________ How did the temperature change if it increased by 50% and then decreased by 33 1/3% the diffrence of 3-7p^2+11(4+n) There are 3 possible genotypes: NN, MN, or MM. In a group of 500 people, the frequency of genotype NN is 40%. How many individuals would you expect to have the MN genotype Next, you will research and gather three artifacts that help you demonstrate why you would use these terms to describe your identity. An artifact is something made or created by a person and that might have some personal or cultural importance. Artifacts could include pictures, songs, objects, symbols, or anything that means something to you.You can gather artifacts from your personal belongings, online resources, or other sources accessible to you. After gathering three artifacts, write a 50-word paragraph explaining what each artifact is and how it relates to your identity. John Smith works 40 hours for ABC Corp. for $15 per hour. Required payroll deductions are: Social Security $37.20, Medicare $8.70, federal Income tax $58, and state income tax $10. What is John's net pay An urn contains 11 balls, 3 white, 3 red, and 5 blue balls. Take out two balls at random, without replacement. You win $1 for each red ball you select and lose a $1 for each white ball you select. Let X be the random variable that notes the amount you win. Find the probability mass function (pmf) of X. As Texas politics continue to evolve in the 21st century, which of the following events contributes to younger generations increasingly moving away from the Republican Party in Texas Bonding gels and _____ are designed specifically to improve adhesion of light cured gels to the natural nail plate. glossing gels self-leveling gels gel primers building gels How does "How Arthur was chosen king" draw on the tension created in "How Theseus Lifted the Stone"? The Estimated Average Requirement is the amount of intake sufficient enough to meet the needs of __ % of the population A plan of dollar amounts to be spent on long-term projects is called a How do women getting less pay from men lead up to short staffing? The prologue of Romeo and Juliet introduces which elements of the play? Select 4 options.the setting of a lovely citythe setting of a houses courtyardthe setting of a family tombthe characters of the loversthe characters of the lovers parentsthe conflict of a grudge between the two familiesthe conflict of a fight between the two lovers PLEASE HELPPPPPP!!!!!!!! Jane read 1/4 of a 400-page book. How many pages are left to read? If the ph of a solution is 6.1 what is the concentration of h+ ions in the solution I need help with this geometry question asap! Which histogram represents the data? 1,2,12,14,15,16,18 In a federal system of government (also known as a federation), the local and state governments share power with the central government, though the central government has final authority. Explain how this is different from a parliamentary system of government.