Answer:
a. Schools operate for the full year, so no students are looking for summer work.
This will cause that the total labor force decreases, so the natural rate of unemployment will decrease. The natural rate of unemployment includes only structural and frictional unemployment. Since no students will look for summer jobs, then frictional unemployment will decrease, therefore, total natural unemployment will decrease also.
b. The Internet lists all the jobs available in the whole country, so it is easier for job seekers to locate potential jobs.
This will help to decrease structural unemployment which will in turn decrease the natural rate of unemployment. Structural unemployment happens when an unemployed individual cannot find a job that fits his/her skills. Internet job postings will make it easier for unemployed people to find jobs that match their skills.
c. People who quit their jobs are drafted into low-wage community-service jobs.
This should reduce frictional unemployment (which reduces the natural rate of unemployment), since frictional unemployment is made up of people that quit their jobs in order to search a better job or are looking for their first job ever. If people realize that quitting their current jobs will result in them being drafted into low wage jobs, less people will quit their jobs. This doesn't mean that they will stop searching for a better, it means that they will continue searching for a better while still employed.
d. In addition to unemployment insurance, the unemployed receive a bonus for finding new jobs; the bonus is greater if the job is found in the first few weeks of search and declines with the duration of search.
This should motivate people to get any available job as quick as possible. Sometimes a person that is fired will not accept possible jobs because they consider that they can get a better job, so they decide to wait until they get the job that they want. If a bonus is given, a lot of people will be motivated to accept any new job that they can find as long as it allows them to collect the bonus. This doesn't mean that they will quit looking for their dram job or the job that they deserve, it means that they will be working while doing so. This should decrease the natural rate of unemployment.
The Hampton Inn in Stow, Ohio, has two sets of employees, the front desk staff and the housekeeping staff. There is always one front desk clerk on duty at all times, 24/7, and all of the front desk clerks make $8.00 an hour.The housekeeping staff is also paid $8.00 an hour, but they are paid for the number of hours that it takes them to clean the rooms in the hotel. Each room takes 30 minutes to clean, but if a room has not been used the night before, it does not have to be cleaned, so the housekeeping staff work fewer hours on days when the hotel is not as full.The hotel calculates its profitability on a per-room basis, since they have some costs that vary with the number of rooms that are occupied on a particular night. Right now, their costs other than staff wages are marketing expenses of $5,400 per month, management salaries of $60,000 per month, and general overhead (costs like utilities and insurance) of $30,000 per month.The hotel has 50 rooms, all of which rent for the same price per night.Assuming a 30-day month, what are the hotel’s total fixed costs per day? (Be careful, read all of the cost information carefully and think before you answer this question.)What is the hotel’s variable cost per room?If the hotel fills all of its rooms for the night, what price should they charge to break even?What price should they charge to break even with only 70% of the hotel’s rooms sold for the night?What price should they charge to earn a profit margin of 25% when 70% of the hotel’s rooms are sold for the night?
Answer:
To get total fixed cost
We calculate all expenses
Salaries of clerks = 24hours x 8
= 192
Marketing = 5400/30 = 180
Management = 60000/30 days = 2000
General overhead = 30000/30 = 1000
Total = 180+192+3000+2000
= $3372 a day
2.
It takes half hour to clean a room. And cleaner charges 8 dollars for a full hour.
8x1/2 = $4
3
Question says total rooms = 50
TFC = 3372
Contribution from 1 room
= 3372/50
= $67.44
Price per room = 66.44 + 4
= $71.44
4.
70% occupied rooms = 0.70 x 50
= 35 rooms occupied
3372/35
= $96.34
Charge for a room = 96.34 + 4
= $100.34
5.
Profit margin of 25% given 70% occupancy
3372+(4*35)
= $3512
Percentage on cost = 33.33%
O.3333x3512
= $1171
1172+3512
= $4683
Price for a room = 4683/35
= $133.8
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2016, the company adopted a plan to sell the assets of the division. The actual sale was completed on December 15, 2016, at a price of $640,000. The book value of the division’s assets was $1,090,000, resulting in a before-tax loss of $450,000 on the sale. The division incurred a before-tax operating loss from operations of $120,000 from the beginning of the year through December 15. The income tax rate is 30%. Chance’s after-tax income from its continuing operations is $440,000.Required:Prepare an income statement for 2016 beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. (Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)
Answer:
Net income/loss 41,000
Earning per share:
Net Income 0.41
Explanation:
Preparation of an income statement for 2016 beginning with income from continuing operations
CHANCE COMPANY
Partial Income Statement
For the Year Ended December 31,2021
Income from continuing operations[a] $ 440,000
Discounted operations:
Loss from operations of discontinued component $ (570,000)
Income tax benefit $ 171,000
Loss on discontinued operations[b] $ (399,000)
Net income /[loss][a-b] $ 41,000
Earning per share: 100,000 Shares Outstanding
Income from continuing operations($ 440,000/100,000 Shares) $ 4.40
Loss from discontinued operations($ 399,000/100,000 Shares) $ (3.99)
Net Income($ 41,000/100,000 Shares) $0.41
Calculation of Loss from discontinued operations:
Loss from discontinued operations
Loss on sale of assets(1,090,000 - 640,000) $ (450,000)
Operating loss $ (120,000)
Total before -tax loss $ (570,000)
Less: Income Tax benefit(570,000*30%) $ 171,000
Loss after tax $ (399,000)
Gilberto Company currently manufactures 74,000 units per year of one of its crucial parts. Variable costs are $2.40 per unit, fixed costs related to making this part are $84,000 per year, and allocated fixed costs are $71,000 per year. Allocated fixed costs are unavoidable whether the company makes or buys the part. Gilberto is considering buying the part from a supplier for a quoted price of $3.65 per unit guaranteed for a three-year period. Calculate the total incremental cost of making 74,000 and buying 74,000 units. Should the company continue to manufacture the part, or should it buy the part from the outside supplier?
Answer and Explanation:
The computation is shown below:
Incremental Costs to Make
Particulars Relevant Amount Relevant Total Relevant
per Unit Fixed Costs Costs
Variable cost per unit $2.40 $177,600
(74,000 × $2.40)
Fixed manufacturing costs $84,000 $84,000
Total incremental cost to make $261,600
Incremental Costs to Buy
Particulars Relevant Amount Relevant Total Relevant
per Unit Fixed Costs Costs
Purchase price per unit $3.65 $270,100
(74,000 × $3.65)
Total incremental cost to buy $270,100
As the cost is minimize in the case of the making part so Gilberto should Make the part
Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transactions would have upon cash and net income.
a. Purchased $125 of supplies for cash.
b. Recorded an adjusting entry to record use of $45 of the above supplies.
c. Made sales of $1,220, all on account.
d. Received $850 from customers in payment of their accounts.
e. Purchased equipment for cash, $2,500.
f. Recorded depreciation of building for period used, $610.
Answer:
Explanation:
Net income is the summation of all revenue generated substracted from all costs such as tax, interest and others it is the profit made.
Cash flow is the amount that the producer needed to spend when stating an accounting section romove from amount needed at the end of that accounting section.
Whenever transactions are carried out,
Cash flow and net income can be affected in ways that are not the same, once goods is sold the net income is noted by the manufacturer, let say he sell goods of $400 to a retailer if the retailer doesn't pay instantly, it mean the manufacturer has $400 cash less.i.e net income
a. Purchased $125 of supplies for cash.
Answer:
✓There is decrease in cash by $125
✓There is no change as far as Net Income is concerned here.
b. Recorded an adjusting entry to record use of $45 of the above supplies.
Answer:
✓There is No change to Cash here,
✓The net income is is decreased by $45.
c. Made sales of $1,220, all on account.
Answer:
✓There is No change to Cash here,
✓The Net Income is increased by $1,220
d. Received $850 from customers in payment of their accounts.
Answer:
✓ There is Cash increase, by. $850 ,
✓ There is No change to Net Income
e. Purchased equipment for cash, $2,500.
Answer:
✓There is Cash is decreased by $2,500
✓ There is no change to Net Income
f. Recorded depreciation of building for period used, $610.
Answer:
✓ There is No change to cash,
✓ there is decrease in Net income by
$610
Devon, the CEO believes that his staff just needs a little push by giving them an understanding of the importance of each of their positions to the company while allowing them to also see each of their own direct impact. Each position, from product development to sales plays a crucial role in Change It Pharmaceuticals. Devon feels that giving timely information regarding their job performance and letting them know the importance of their roles to the company will improve work performance.
Required:
Devon has focused on which two characteristics of the job characteristic model?
Answer:
Task significance and feedback
Explanation:
The characteristic model of work is a methodology whose central objective is the motivation of the worker through his own work, but which must be challenging and allow the employee to develop his skills and competences through the performance of his work. There are five dimensions of the model, they are: Variety of Skills, task identity, task significance, autonomy and feedback.
In the case of the above question, Devon focuses on the significance characteristics of the task, by providing them with an understanding of the importance of each of their positions to the company, allowing them to also see each of their own direct impact. Because the significance of the task is the level that motivates employees through increasing their perception and appreciation of their work towards the central objectives of the company.
He also used feedback, as he believes that providing timely information about the performance of their job and letting them know the importance of their roles to the company will improve job performance. Using feedback helps employees to improve their perception of their performance and strive to achieve better results to company.
Why the companies need to extend their product life cycle?
Answer:
because of the product and the correct one is the one of the product is not working properly
How do you choose the brainliest answer?
Crane Company purchased land as a factory site for $1300000. Crane paid $110000 to tear down two buildings on the land. Salvage was sold for $8000. Legal fees of $5000 were paid for title investigation and making the purchase. Architect's fees were $46000. Title insurance cost $3500, and liability insurance during construction cost $3800. Excavation cost $15000. The contractor was paid $4200000. An assessment made by the city for pavement was $9500. Interest costs during construction were $250000.
Required:
a. The cost of the land that should be recorded by Wilson Co. is:________
b. The cost of the building should be recorded by Wilson Co. is:_________
Answer:
a. $1,420,000
b. $4,514,800
Explanation:
When it comes to fixed assets, all costs that directly helped make the asset available for use are to be capitalized.
Cost of Land
= Purchase Value + Cost Incurred to Tear Down 2 Buildings + Legal Fees + Title Insurance Cost + Assessment Cost - Salvage
= 1,300,000 + 110,000 + 5,000 + 3,500 + 9,500 - 8,000
= $1,420,000
Cost of Building
= Architect's Fees + Liability Insurance Cost + Excavation Cost + Contractor's Payment + Interest Cost
= 46,000 + 3,800 + 15,000 + 4,200,000 + 250,000
= $4,514,800
babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elizabeth to babysit their children. In particular, Mr. and Dr. Brown would be willing to pay $31 to have Elizabeth babysit their children, Mr. Smith would be willing to pay $28 for Elizabeth's babysitting services, and Professor Jones and Mr. Jones would be willing to pay $22 to have her watch their children. If Elizabeth offers to babysit each set of children for an evening for $22, what will be consumer surplus, considering the three sets of children combined? $nothing. (Enter your response using an integer.)
Answer:
$15
Explanation:
Consumer surplus is the price the consumer pay for good/service minus the amount the consumer is willing to pay for it.
✓Mr. and Dr. Brown would be willing to pay $31
✓Mr. Smith would be willing to pay $28
✓Professor Jones and Mr. Jones would be willing to pay $22
Elizabeth PRICE for babysitting each set of children for an evening = $22
Consumer surplus= Σ (price that the consumer is willing to pay- Price of the good/service is sold)
= [(31-22)+(28-22)+(22-22)]
= 9+6+0
=$15
Hence, Consumer surplus is $15
Acme Inc. has 200 total employees, 150 of which are nonexcludable employees. Ten employees are highly compensated. Seven of the 10 highly compensated and 100 of the 140 nonhighly compensated employees are covered under Acme's qualified plan. The average accrued benefits for the highly compensated is 3% and the average accrued benefit for the nonhighly compensated is 1.5%. Which of the following statements is true regarding coverage? The Plan Passes the ratio percentage test. The plan passes the average benefits test. a. Both 1 and 2. b. 1 only. c. Neither 1 nor 2. d. 2 only.
Answer:
b. 1 only.
The Plan Passes the ratio percentage test.Explanation:
the ratio percentage test = ratio of non-HCE / ratio of HCE ≥ 70%
ratio percentage test = (100/140) / (7/10) = 0.71/0.7 = 1.02 or 102% ≥ 70% ✓ passed
the average benefits test = 1.5% / 3% = 0.5 or 50% ≤ 70% X failed
This means that the highly compensated employees receive disproportionately high benefits from the plan.
C. Describe how organizational structure can impact the effectiveness of the business in the scenario by doing the following: 1. Describe how the organizational structure chosen in part A1 can impact the effectiveness of the business in the scenario, using the goal-attainment approach to measuring organizational effectiveness. 2. Explain the advantages or disadvantages of using an organizational structure from the list in part A1 that is different from the structure already chosen for the business, using the goal-attainment approach to measuring organizational effectiveness.
Answer:
Organizational structrue is crucial because it guides the functioning of an organization, from the lowest levels, to the highest levels.
An common organizational structure is divisions based: the firm is organized with a CEO at the top, and then, a financial department, a marketing deparment, and accounting department, and a productions department.
In this organization, each division has specific goals, which are set by the CEO, the Board of Directors, the shareholders, and the leaders of each divison. These specific goals are different but they must respond to a overall, coherent business strategy.
g The Dynatech Brewing Company is a small craft brewer that produces five standard varieties of beer. The beers sell for $6 per six-pack, and the company currently sells 7,000 six-packs per month. The company is considering producing a seasonal beer that will be sold in October, November, and December. The company estimates that at $6 per six-pack, the company will sell 1,400 six-packs. At $7 per six-pack, sales will be 700 six-packs. The company also estimates that sales of the seasonal beer will eat into sales of its standard items. Specifically, for every 700 six-packs of the seasonal beer that are sold, 210 six-packs of the standard varieties will not be sold. The variable production costs of all beers is $1.70 per six-pack. Calculate the incremental profit associated with the two selling prices under consideration for the seasonal beer (i.e., $6 and $7 per six-pack). (Enter loss using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) $6 per six-pack $7 per six-pack Incremental profit/(loss) $enter a dollar amount $enter a dollar amount eTextbook and Media Should Dynatech Brewing produce the beer
Answer:
The Dynatech Brewing company
a. Incremental Profit with the Seasonal Production and Sales:
1,400 units 700 units
Sales revenue $8,400 $4,900
Variable costs 2,380 1,190
Contribution $6,020 $3,710
Lost Contribution 1,806 903
Incremental profit $4,214 $2,807
b. Dynatech Brewing should produce 1,400 six-pack seasonal beer. It will increase its profit (contribution) by $4,214. It will only suffer a lost contribution of $1,806.
Explanation:
a) Data and Calculations:
Selling price per six-pack = $6
Variable production costs per six-pack = $1.70
Contribution per six-pack = $4.30
Units sold per month = $7,000
Seasonal Production and Sales:
1,400 units 700 units
Sales revenue $8,400 ($6 * 1,400) $4,900 ($7 * 700)
Variable costs 2,380 ($1.70 * 1,400) 1,190 ($1.70 * 700)
Contribution $6,020 ($4.30 * 1,400) $3,710 ($4.30 * 700)
Lost Contribution 1,806 ($4.30 * 420) 903 ($4.30 * 210)
Incremental profit $4,214 $2,807
A tax rate that is higher for people with higher incomes is a
A. progressive tax
B. deductive tax
C. regressive tax
D. dependent tax
A tax rate that is higher for people with higher incomes is a progressive tax. In such a tax system, the rich pay more tax than the poor. Thus, option (a) is correct.
What is a progressive tax?A progressive tax is a tax system in which people who earn higher incomes pay a higher rate of tax than those who earn lower incomes. This type of tax system is designed to reduce income inequality and ensure that those with higher incomes pay their fair share of taxes.
In a progressive tax system, the tax rate increases as the taxable income increases, and the tax rate decreases as the taxable income decreases.
Therefore, it can be concluded that a tax rate that is higher for people with higher incomes is a progressive tax. Hence, option (a) is correct.
Learn more about progressive tax, here:
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You decide to invest $100,000 in cryptocurrencies and you use that amount to buy bitcoin. Your bitcoin appreciate by 30% in one month, at which point you liquidate half your position for cash, which you do not reinvest. Bitcoin appreciates by another 25% during the second month and you sell an additional 40% of your holdings. The cryptocurrency then falls by 60% in the third month, at which point you liquidate your entire position for cash.
What is your dollar weighted monthly return?
Answer: 19%
Explanation:
Dollar weighted monthly return = (w1 * r1) + (w2 * r2) + (w3 * r3)
Weight is the amount withdrawn.
r is the rate earned prior to withdrawal.
= (0.5 * 30%) + (0.4 * 25%) + (0.1 * -60%)
= 19%
Assume that Gorilla Corporation's capital loss carryforward is $27,000 and that Gorilla will be able to use $11,000 of the carryover to offset capital gains in 2021 and the remaining $16,000 to offset capital gains in 2022.
Required:
Determine the tax savings of the $105,000 long-term capital loss recognized in 2020.
Assume a discount rate of 5%. The present value factors at 5% are as follows:
1.000 for 2017-2020;
0.9524 for 2021
0.9070 for 2022.
Gorilla Corporation's marginal income tax rate is 34% for all tax years prior to 2018. In present value terms, the tax savings of the $105,000 long-term capital loss recognized in 2020 is $________ .
Answer:
$95,283.09
Explanation:
The computation of the long term capital loss recognized for the year 2020 is shown below:
As we know that
Present value = Future value ÷ (1 + interest rate)^number of years
Present value = $105,000 ÷ (1 + 0.05)^2
= $95,283.09
hence, the long term capital loss recognized is $95,283.09
We simply applied the above formula
Identify the correct statement regarding the Occupational Safety and Health Act (OSH Act). Select one:
a. In a closing conference, all the findings of the inspection are kept confidential with the concerned officers.
b. OSHA compliance officers do not entertain any kind of input or complaints from employees during the inspection.
c. OSHA compliance officers notify employers a month in advance before the inspection.
d. The OSHA compliance officer will seek a restraining order from the U.S. District Court, even if the inspection reveals that the problem is minor.
e. If an OSH Act violation results in citations, an employer must post each citation in a prominent place near the location of the violation.
Answer:
The answer is "Option e".
Explanation:
In the question, the choice e is correct because whenever an infringement of the OSH Act contributes to citations, the contractor should place any ticket in such a conspicuous place near the infringement.
All other alternatives weren’t true in support of OSHA but only when a violation of OSHA contributes to quotations should an employee post each quotation at a prominent position relative to the place of the violation.
Blogging on a regular basis represents an enormous opportunity for growth and a far-reaching presence.
How do organizations utilize blogs?
a. To make job offers
b. To create engagement
c. To develop relationships
d. To improve customer relations Internal communications.
When wishing to acquire information from customers who use your products, which method would yield the best results?
a. Wiki
b. Blog
c. Podcast
Companies can use blogs to share late-breaking news of tidbits of interest to employees. This is an example of____________ Blogs take the same care and attention as other business writing.
Answer:
b. To create engagement
d. To improve customer relations
a. Wiki
internal communication
Explanation:
Business logging is a form of bringing huge steps towards mingling and getting along with the customers. It is a representation of the working and growth of the business presented on the social media platform. Bloggs helps in keeping a constant interaction with the customers and placing the rise of the business before everyone. It helps in informing the customers about the happenings in the business and helps in building a better interaction.
A wiki is a tool that is web-based. It is a tool that helps multiple users to contribute towards providing content, modifying it, and reading it. It brings a source of adding and grasping information related to any particular subject.
Internal communication among the internal members of the companies can be done with the help of writing blogs.
Causwell Company began 2021 with 12,000 units of inventory on hand. The cost of each unit was $5.00. During 2021 an additional 32,000 units were purchased at a single unit cost, and 22,000 units remained on hand at the end of 2021 (22,000 units therefore were sold during 2021). Causwell uses a periodic inventory system. Cost of goods sold for 2021, applying the average cost method, is $118,800. The company is interested in determining what cost of goods sold would have been if the FIFO or LIFO methods were used.
Required:
a. Determine the cost of goods sold for 2018 using the FIFO method.
b. Determine the cost of goods sold for 2018 using the LIFO method.
Answer:
a) COGS under FIFO = $110,340
b) COGS under LIFO = $125,850
Explanation:
beginning inventory 12,000 units x 5 = $60,000
purchases 32,000 x ? = $?
ending inventory = 22,000 units
COGS applying weighted average = $118,800
total units sold = 12,000 + 32,000 - 22,000 = 20,000
cost per unit sold = $5.94
total cost for 44,000 units = $261,360
cost of purchased units = ($261,360 - $60,000) = $201,360
cost per unit purchased = $6.2925
COGS under LIFO = 20,000 x $6.2925 = $125,850
COGS under FIFO = (12,000 x $5) + (8,000 x $6.2925) = $110,340
4. Ellen contracts to buy six cases of vintage Fertile Valley wine from Grapes & Vines Winery for $1,200. The contract states that delivery is to be made at Ellen’s residence "on or before May 1, to be used for daughter's wedding reception on May 2." On May 1, Grapes & Vines delivery van is involved in an accident, no wine is delivered that day, and no one from Grapes & Vines tells Ellen. On the morning of May 2, Ellen buys the wine from Happy Hill Winery. That afternoon, just before the reception, Grapes & Vines tenders delivery of the wine at Ellen’s residence. She refuses tender\delivery. Grapes & Vines sues her for breach of contract. How is the court most likely to rule
Answer: In Ellen's favor
Explanation:
A component of the contract between Ellen and Grapes & Vines was breached which was that the wine was to be delivered "on or before May 1''. It was delivered on the 2nd which was a breach of contract which means that the contract can be voided.
If Grapes and Vines uses the defense that their van broke down and therefore it is a care of extraordinary circumstances, all efforts should have been made to contact Ellen to explain this situation. This was not done so Ellen was within her right to cancel the contract.
Local Broad Cost Leader - Low priced products for the local region: our brands offer solid value. Our primary stakeholders are bondholders, customers, stockholders, and management. Global Broad Differentiator - Premium products for the industry across the globe: our brands withstand the test of time. Our primary stakeholders are customers, stockholders, management, and employees. Global Niche Cost Leader - Reliable products for low technology customers across the globe: our brands offer value. Our primary stakeholders are bondholders, stockholders, customers, and management. Global Niche Differentiator - Premium, tailored products for technology-oriented customers across the globe: our brands define the cutting edge. Our primary stakeholders are customers, stockholders, management, and employees. Which mission statement best represents the Baldwin Company
Answer: b. Innovation meets revolution. We create value of our customers around the world through breakthrough designs that lead to unique high-performance products.
Explanation:
Baldwin creates value around the world for a variety of customers. Using breakthrough designs, they are able to offer low prices to domestic consumers, premium products across the globe, low technology products for the people who prefer it and high technology for those who prefer that as well.
The first option is wrong because the global customers of Baldwin are not mentioned.
The third is wrong as well because they do not only build premium products as they build low technology products as well.
The fourth option is also wrong because it would seem that the low price is only offered domestically not across the world.
What is the purpose of a W-2 form?
Why does supply decrease when the price
of resources increases?
Answer:
see below
Explanation:
Resources are the ( inputs) materials used in the production of goods meant for sale. The cost of inputs has a direct impact on the price of the finished goods(output). An increase in the cost of inputs increases the cost of production. An increase in production cost increases without a corresponding rise in the selling price means that the profits margin per unit will decline.
Suppliers are motivated to sell or deliver more quantities in the market by profit prospects. An increase in the costs of inputs decreases profit margins. Reduced profits margin result in suppliers supplying reduced quantities in the markets.
What is one argument in favor of the Fed using aggressive expansionary monetary policy during an economic crisis?
Explanation:
The central bank of a country is responsible for monitoring the monetary policy. An effective American monetary policy is based strictly on the situation presented. Request A Topic. Sign Up For Notifications.
Hofstra Plastics’ selected data for October 2013 are presented here (in millions):
Direct materials inventory, 10/1/2013 $85
Direct materials purchased 370
Direct materials used 355
Total manufacturing overhead costs 470
Variable manufacturing overhead costs 240
Total manufacturing costs incurred during October 2013 1,630
Work-in-process inventory, 10/1/2013 220
Cost of goods manufactured 1,630
Finished goods inventory, 10/1/2013 140
Cost of goods sold 1,740
Requirements:
Calculate the following costs:
a. Direct materials inventory, 10/31/
b. Fixed manufacturing overhead costs for October.
c. Direct manufacturing labor costs for October.
d. Work-in-process inventory, 10/31/
e. Cost of finished goods available for sale in October 6.Finished goods inventory, 10/31
Answer:
a. $100
b. $230
c. $805
d. $220
e. $1,770
f. $30
Explanation:
a. Direct material inventory 10/31
Direct material inv. 10/1/2013 $85
Add: Direct materials purchased $370
Direct materials available for productions $455
Less: direct materials used ($355)
Direct materials inventory 10/31 $100
b. Fixed manufacturing overhead costs for October
Total manufacturing overhead costs $470
Less: Variable manufacturing overhead costs ($240)
Fixed manufacturing overhead costs for October $230
c. Direct manufacturing labor costs for October
Total manufacturing costs $1,630
Less : direct material used ($355)
Total manufacturing overhead costs ($470)
Direct manufacturing labor costs for October $805
d. Work in process inventory 10/31
Work in process inventory 10/1/2013 $220
Add : total manufacturing costs $1,630
Work in process available for production $1,850
Less: cost of goods manufactured ($1,630)
Work in process inventory 10/31/2014 $220
e. Cost of finished goods available for sale in October 6
Finished goods inventory 10/1/2013 $140
Add: costs of goods manufactured $1,630
Finished goods inventory 10/01/2013 $1,770
f. Finished goods inventory 10/31/2013
Finished goods available for sale in October $1,770
Less: cost of goods sold ($1,740)
Finished goods inventory 10/31/2013
$30
The statement, "All basketball players are tall" is a stereotype.
Please select the best answer from the choices provided
)T
)F
Answer:
true
Explanation:
Answer:
that is true
Answer:
because it is a stereotype
Jocko works for IBM, a publicly traded company that sponsors a stock bonus plan. Which of the following statements is not correct regarding the plan? a. If the distribution of IBM stock is made to Jocko in installments over a two year period, then the fair market value of all employer securities distributed in the installment distribution will be taxable as ordinary income. b. Jocko is permitted to vote the shares of IBM within his account. c. Upon termination, Jocko must be given the right to receive IBM stock held in the plan as part of a distribution. d. If Jocko has less than three years of service, he is permitted to diversify one-half of company match contributions that consist of IBM stock.
Answer:
Option d. is correct
Explanation:
A stock bonus plan is defined as a contribution profit sharing plan in which contributions to a stock bonus plan by employers are discretionary and recurring. Also, stock bonus plans cannot discriminate toward executives (highly compensated employees).
The following statement is not correct regarding the plan:
''If Jocko has less than three years of service, he is permitted to diversify one-half of company match contributions that consist of IBM stock.''
A highly visible IT project has attracted some of the brightest developers in the company. Unfortunately, the potential for conflict is also high. The project manager will rely on all her skill sets to complete the project successfully. She is very aware that her interpersonal skills can influence the project outcome. What are the specific interpersonal skills she is most likely to utilize? Select one: a. Leadership, negotiation, and influencing b. Active listening, negotiation skills, accommodating, and influencing c. Active listening, cultural awareness, leadership, networking, political awareness d. Leadership, effective decision-making, active listening, and influencing
Answer:
Leadership, negotiation, and influencing b. Active listening, negotiation skills, accommodating, and influencing
Explanation:
The specific interpersonal skills she is most likely to utilize are
Leadership,
negotiation,
and influencing
Active listening
negotiation skills
accommodating
influencing
All these interpersonal skills will help her to relate with the group of people she's working with for professionalism and to maintain good relationship with them.
If you can buy a pack of candy bars 5.99 or a 2 pack 3.49,what is the unit cost for a bar in each case?
Answer:
1.745 per unit
Explanation:
At December 31, 2017, Novak Corporation reported the following plant assets. Land $ 3,198,000 Buildings $26,610,000 Less: Accumulated depreciation—buildings 12,712,050 13,897,950 Equipment 42,640,000 Less: Accumulated depreciation—equipment 5,330,000 37,310,000 Total plant assets $54,405,950 During 2018, the following selected cash transactions occurred. Apr. 1 Purchased land for $2,345,200. May 1 Sold equipment that cost $639,600 when purchased on January 1, 2011. The equipment was sold for $181,220. June 1 Sold land for $1,705,600. The land cost $1,066,000. July 1 Purchased equipment for $1,172,600. Dec. 31 Retired equipment that cost $746,200 when purchased on December 31, 2008. No salvage value was received.Prepare the plant assets section of Novak’s balance sheet at December 31, 2018.
Answer:
Plant Assets
Land at Cost $4,477,200
Buildings at Cost $26,610,000
Total $31,087,200
See note 2 below !
Explanation:
To determine the Cost of Land, prepare the Land Account
Land T - Account
Debit :
Balance b/d $ 3,198,000
Apr. 1 Cash $2,345,200
Total $5,543,200
Credit :
Disposal $1,066,000
Balance c/d (balance) $4,477,200
Total $5,543,200
Other Notes
1. Remember ,Equipment is not included in the Plant Assets, so do not concern yourself with any transactions of it.
2.Since the depreciation policy for Buildings is not given, I have only recorded the Costs Amount in the Plant Section.
Dacosta Corporation had only one job in process on May 1. The job had been charged with $2,400 of direct materials, $6,966 of direct labor, and $10,104 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $19.60 per direct labor-hour. During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $ 9,100 Purchased during the month $ 38,600 Used in production $ 39,900 Labor: Direct labor-hours worked during the month 2,500 Direct labor cost incurred $ 25,110 Actual manufacturing overhead costs incurred $ 33,900 Inventories: Raw materials, May 30 ? Work in process, May 30 $ 17,093 Work in process inventory on May 30 contains $3,849 of direct labor cost. Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was:
Answer:
$116,387
Explanation:
Opening work in process = Direct materials + Direct Labor + Overheads
= $2,400 + $6,966 + $10,104
= $19,470
Adding up all the cost for the period, we'll have;
Raw materials = $39,900 used in production
Direct labor cost = $25,110
Overheads to be applied on predetermined rate = 2,500 × $19.6
= $49,000
Total cost incurred including beginning work in process = $133,480
Less: Closing work in process $17,093
Total cost of goods manufactured = $116,387