1. The computation of the adjustments to warranty expense, income tax expense, and net income and the reformulation of the income statement for 2014, 2015, and 2016 for Whirlpool Industries are as follows:
12 Months Ended ($ millions) Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014
Net sales $23,928 $24,101 $23,082
Warranty expense 366 610 372
Taxable income $23,562 $23,491 $22,710
Tax expenses (30%) $7,069 $7,047 $6,813
Net income $16,493 $16,444 $15,897
2. The computation of the average warranty expense to net sales rate over the past three years is as follows:
12 Months Ended ($ millions) Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014
Net sales $23,928 $24,101 $23,082
Warranty expense 366 610 372
Warranty expenses to
net sales rate 1.5296% 2.5310% 1.6116%
Average warranty expenses to net sales rate = 1.89% (5.6722/3)
Data and Calculations:12 Months Ended ($ millions) Dec. 31, 2016 Dec. 31, 2015 Dec. 31, 2014
Net sales $23,928 $24,101 $23,082
Warranty expense 366 610 372
Warranty expenses to
net sales rate 1.5296% 2.5310% 1.6116%
Average warranty expenses to net sales rate = 1.89% (5.6722/3)
Thus, the average warranty expense to net sales rate over the past three years is 1.89%.
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Describe how the data protection act affects the storage of customer information?
Answer:
It governs the holding and processing of personal data
The way the Data Protection Act affects the storage of customer information is by ensuring compliance with the existing rules and regulations.
What is Data Protection?Data Protection refers to the governance concerning the holding and processing of personal data. It involves the processes taken to prevent stored data from:
Misused by third partiesTransmitted without consentFraudulent usage, e.g. phishing scams and identity theft.Compliance with the Data Protection Act ensures that the storage of customer information achieves the following:
Stored for a fair and lawful purpose.Only adequate and relevant data should be stored.Stored data must be updated regularly.Stored data must be kept secure.Data should not be kept longer than necessary.Thus, the way the Data Protection Act affects the storage of customer information is by ensuring compliance with the existing rules and regulations.
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How does planning interact with other management functions?
Zerо bаsed budgeting wаs first аррlied by:
а. Аbrаhаm Linсоn
b. Jimmy Саrter
с. Рeter А рhyrr
d. Аlex Оuсhy
Answer:
c.Peter A phyrr
Explanation:
Zero-based budgeting originated in the 1960s by former Texas Instruments account manager Peter Pyhrr.
Please answer! Giving brainilest to correct answer :)
Alexis and Damian are both taking a course on picking a career. They go to the same art club so they both know what they enjoy doing. Surprisingly, Alexis and Damian might find careers in the Architecture and Construction Career Cluster that allow them to express themselves through art. Create a list of possible jobs in this cluster that could use an artistic person and explain a task that each job does that the two students might particularly enjoy.
Answer:
Explanation:new energy technologies
Which of these describes the costs and benefits of getting a mortgage?
A. Mortgages provide a replacement for lost or damaged
possessions but come with high fees.
O B. Mortgages prevent government regulation of property but involve
higher taxes.
C. Mortgages help people pay for college but involve lots of
paperwork.
D. Mortgages enable people to buy houses but result in large interest
payments.
ANSWER???
Answer:
B
Explanation:
Mortgages prevent government regulation of property but involve higher taxes
One of the benefits of getting a mortgage is that it enables people to buy houses and the costs of a mortgage is that it results in large interest payments.
What is a mortgage ?
Mortgage is the process of providing something as security or collateral for a loan. Mortgages are loans from banks or other financial institutions that help borrowers buy a home. The mortgage mortgage is the house itself. This means that if the borrower fails to pay the lender monthly and the loan defaults, the lender can sell the home and get the money back.
Mortgages are usually long-term debt of 30, 20, or 15 years. During this period (also known as the "term" of the loan), the individual needs to repay both the principal borrowed and the interest charged on the loan.
What is interest?
Interest refers to the cost of borrowing. When a loan is paid or a loan is made, it begins to occur or total. Interest is computed as a percentage of the remaining amount of the loan (or deposit) and is paid regularly to the lender for the privilege of spending the money. The amount is usually calculated at an annual rate, but interest can be calculated over a period longer or shorter than a year. Interest can be calculated using various methods. At times, it is computed at a rate which is beneficial to the lender.
Hence the correct answer is D.
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#SPJ2
what are other roles of business in the economy?
Answer:
i hope it helps u :)
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs.
Answer:
Explanation:
In any market economy, business plays a huge role. Business is the engine of an economy. Business provides jobs that allow people to make money and goods and services that people can buy with the money they make. ... Most businesses provide people with jobs
Laserscope Inc. is trying to determine the best combination of short-term and long-term debt to employ in financing its assets. Laserscope will have $16 million in current assets and $20 million in fixed assets next year and expects operating income (EBIT) to be $4,1 million. The company's tax rate is 40% and its debt ratio is 50%. The firm's debt will be financed by an conservative policy using $6 million of short-term debt. The short-term interest rate is 7.0% and the long-term interest rate is 10.3%. What is the return on shareholders' equity (ROE) under this policy
Answer:
Laserscope Inc.
Return on Equity (ROE):
= $1,466,400/$18,000,000 * 100
= 8.15%
Explanation:
a) Laserscope's Return on Equity (ROE) is a financial performance measure, calculated by dividing the net income or Earnings After Tax (EAT) by its total shareholders' equity. It is usually expressed as a percentage. So the above calculation is further multiplied by 100.
b) Data and Calculations:
Current assets = $16
Fixed assets = $20
Total assets = $36
Debt ratio = 50% of $36 million = $18 million
Therefore, Stockholders' equity = 50% (1 - 50%) or $18 million
EBIT = $4.1 million
Short-term debt = $6 million
Long-term debt = $12 million
Interest on short-term debt = $420,000 (7% * $6 million)
Interest on long-term debt = $1,236,000 (10.3% * $12 million)
Total interest expense = $1,656,000
Earnings before interest and taxes = $4,100,000
Interest expense 1,656,000
Earnings before taxes 2,444,000
Company tax (40%) (977,600)
Earnings after taxes (EAT) $1,466,400
The return on shareholders' equity (ROE) under this policy is 8.15%.
The calculation is as follows;Total assets is
= $16 million + $20 million
= $36 million
EBIT is $4.1 million
Debt ratio is 50%
The total debt is 50% of $36 billion i.e. $18 million
Less: short term debt $6 million
Long term debt $12 million
Now
EBIT $4.1 million
Less: Interest $1.656 million ((6 × 7%)+(12 × 10.3%))
EBT $2.444 million
Less: taxes $0.9776 million
Net income $1.4664 million
Now
The return on shareholder equity is
= $1.4664 ÷ $18
= 8.15%
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Windswept, Inc. 2017 Income Statement ($ in millions)
Net sales $9,810
Cost of goods sold 7,960
Depreciation 485
Earnings before interest and taxes $1,365
Interest paid 112
Taxable income $1,253
Taxes 439
Net income $814
Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions)
2016 2017 2016 2017
Cash $270 $300 Accounts payable $1,530 $1,485
Accounts rec. 1,080 980 Long-term debt 1,140 1,340
Inventory 1,930 1,755 Common stock 3,420 3,370
Total $3,280 $3,035 Retained earnings 680 930
Net fixed assets 3,490 4,090
Total assets $6,770 $7,125 Total liab. $7200 $7585
Required:
What is the quick ratio for 2017?
Answer:
Quick Ratio - 2017 = 0.8619 rounded off to 0.86
Explanation:
The quick ratio which is also known as the acid test ratio is a measure to assess the liquidity position of a company. The liquidity condition means the ability of a company to pay off its short term obligations using its short term or current assets. The quick ratio measures the ability of a company to pay off these obligations using the company's most liquid assets and that is why we exclude the value of inventory when calculating the quick ratio.
The formula for quick ratio is,
Quick Ratio = (Current assets - Inventory) / Current Liabilities
Quick Ratio - 2017 = (3035 - 1755) / 1485
Quick Ratio - 2017 = 0.8619 rounded off to 0.86
Find the value of - such that 0.7286 of the area lies between -z and z ?
Answer:
0.7286) hoy por York HD HD babe tour y con dont canales know josh work funciona como know para descargar Windows AndroidIn his book, The Art of the Long View, Peter Schwartz identified the process of constructing multiple stories of what could happen next as an important step for companies to take. What was the author referring to?
Author Peter Schwartz in his book "The Art of the Long View" referred to scenarios, when identifying the process of building stories that could happen and following an important step for companies.
What is the purpose of the book?The author creates a scenario approach to assist in the development of the strategic vision, through the analysis of possibilities that help to create a broad and systematic vision in the decision-making process.
Therefore, the strategic vision is essential for every organization, as it helps in making more effective decisions to deal with different situations and inherent risks of the internal and external environment, making the business more positioned and competitive in the market.
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According to your Competitive Strategies reading from Harvard Business Publishing, the capability of market sensing provides the value of:
By using Competitive Strategies the capability of market sensing provides the value of
delivering high profitability and elevating a company's brand position.
What is Competitive Strategies?Competitive Strategies serves as strategies that is been used by company in a competive market to get high profit and to remain in the market.
It helps the company to deliver high profitability.
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The following forecast constitutes the demand for relay switches. John Smith, the production planner, has assembled the following cost data and the quarterly demand forecast:______.
Quarter Forecast
1 1800
2 1100
3 1600
4 900
Costs/Other Data
Previous quarter’s output = 1300 cases
Beginning inventory = 350 cases
Stock-out cost = $110 per case
Inventory holding cost = $30 per case at the end of quarter
Hiring employees = $40 per case
Terminating employees = $75 per case
Subcontracting cost = $60 per case
Unit cost on regular time = $30 per case
Overtime cost = $20 extra per case
John's job is to develop an aggregate plan. The three initial options he wants to evaluate are
Plan A: a strategy that hires and fires personnel as necessary to meet the forecast
Plan B: a level strategy
Plan C: a level strategy that produces 1,200 cases per quarter and meets the forecast demand with inventory and subcontracting.
a. What is the cost of plan A?
b. What is the cost of plan B?
c. What is the cost of plan C?
d. If you are John's boss, the VP for operations, which plan do you implement and why?
Answer:
a. $256,250
b. $217,562.5
c. $196,500
d. Plan C, due to its fewer total cost incurred compares to the other two plans.
Explanation:
a. What is the cost of Plan A
b. What is the cost of Plan B
c. What is the cost of plan c.
d. If you are John's boss, the VP operations, which plan would you implement and why?
Please find attached detailed solution to the above questions.
Cowboys DE Demarcus Lawrence agrees to new three-year, $40M deal
Answer: The Cowboys r signing defensive end DeMarcus Lawrence to a new 3-year deal worth $40 million, according to NFL Network’s Ian Rapoport (IG) and Tom Pelissero. Lawrence will get $30 million guaranteed and he will become the 1st player at his position to have 7 straight seasons of his contract fully guaranteed.
Explanation:
:P
If preferred stock sold for $67 a share and $4 dividends were paid annually, what would be the required return
16.75 don't ask how I got it done the question before
how changes in suppliers affect retail business industry?
Explanation:
even if the goods are not famous or product which is not good quality then the production gets stoped.
Springer Company had three intangible assets at the end of 2020 (end of the accounting year):
a. A copyright purchased on January 1, 2020, for a cash cost of $15,800. The copyright is expected to have a 10-year useful life to Springer.
b. Goodwill of $78,000 from the purchase of the Hartford Company on July 1, 2019.
c. A patent purchased on January 1, 2019, for $58,000. The inventor had registered the patent with the U.S. Patent and Trademark Office on January 1, 2015. Springer intends to use the patent for its remaining life.
Required:
a. Compute the amortization expense of each intangible for the year ended December 31, 2020. The company does not use contra accounts.
b. Show how the expenses related to the three intangible assets should be reported on the income statement for 2020.
c. Show how the three intangible assets should be reported on the balance sheet for 2020.
Answer:
All requirements solved
Explanation:
Amortization expense can be calculated by dividing the cost of purchasing the asset by its useful remaining life after deducting the residual value from the cost. In this case, no residual value is given.
Requirement 1: Amortization expense of each intangible for the year ended December 31, 2020.
Amortization = Cost / useful life
Copyright (15,800/10) = $1,580
patent (58,000/16) = $3,625
Goodwill = No amortization due to indefinite life
Requirement 2: Expenses related to the three intangible assets should be reported on the income statement for 2020.
Amortization expense = $1,580 + $3,625
Amortization expense = $5,205
Requirement 3: Three intangible assets should be reported on the balance sheet for 2020.
Copyright 15800-1580 = 14,220
Goodwill = $78,000
Patent (58,000 - 3625) = 54,375
First, Goodwill = No amortization due to indefinite life
Second, Amortization expense = $5,205
Third, Copyright = 14,220
Goodwill = $78,000
Patent= 54,375
Computation of Amortization expense
Amortization expense can be Computation by dividing the cost of purchasing the asset by its useful remaining life after subtracting the residual value from the cost. In this circumstance, no residual value is given.
Requirement 1: When the Amortization expense of each intangible for the year ended December 31, 2020.
Amortization is = Cost/useful life
Copyright (15,800/10) is = $1,580
patent (58,000/16) is = $3,625
Goodwill is = No amortization due to indefinite life
Requirement 2: When the Expenses related to the three intangible assets should be reported on the income statement for 2020.
Amortization expense is = $1,580 + $3,625
Amortization expense is = $5,205
Requirement 3: Then Three intangible assets should be reported on the balance sheet for 2020.
Copyright 15800-1580 is = 14,220
Goodwill is = $78,000
Patent (58,000 - 3625) is = 54,375
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Tells us why you would be a great team member and what sets you apart from other candidates
Sorry but you need to answer this one bud. I would help you if I could but I don't know what makes you, well you. :)
Which of the following is an example of a market failure? A(n)
Choose all that apply.
outcome in which total surplus is maximized.
outcome in which a cost spills onto a third party.
market outcome in which consumer surplus is greater than producer surplus.
quantity in which marginal social benefit exceeds marginal social cost.
overproduction of goods and services.
The examples of market failure include:
market outcome in which consumer surplus is greater than producer surplus.overproduction of goods and services.What is market failure?Market failure simply means an inefficient distribution of goods and services in the market.
In this case, market failure can occur when there's a market outcome in which consumer surplus is greater than producer surplus and when there's an overproduction of goods and services.
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In 2018, the Westgate Construction Company entered into a contract to construct a road for Santa Clara County for $10,000,000. The road was completed in 2020. Information related to the contract is as follows: 2018 2019 2020 Cost incurred during the year $ 2,184,000 $ 3,510,000 $ 2,316,600 Estimated costs to complete as of year-end 5,616,000 2,106,000 0 Billings during the year 1,800,000 3,894,000 4,306,000 Cash collections during the year 1,600,000 3,400,000 5,000,000 Westgate Construction uses the completed contract method of accounting for long-term construction contracts. Required: 1. Calculate the amount of revenue and gross profit (loss) to be recognized in each of the three years.
Answer:
revenue recognized
2018 = $2,800,000
2019 = $4,500,000
2020 = $2,700,000
gross profit
2018 = $616,000
2019 = $990,000
2020 = $383,400
Explanation:
Percentage of 2018 2019 2020
completion method
Cost incurred in $0 $2,184,000 $5,694,000
previous year
+ Cost incurred $2,184,000 $3,510,000 $2,316,600
during the year
Total cost incurred $2,184,000 $5,694,000 $8,010,600
+ Estimated cost to $5,616,000 $2,106,000 $0
be incurred
Total estimated cost $7,800,000 $7,800,000 $8,010,600
to be incurred
Percentage of 28% 73% 100%
completion
Total revenue $10,000,000 $10,000,000 $10,000,000
Total revenue $2,800,000 $7,300,000 $10,000,000
recognized (% of completion x total revenue)
- Revenue recognized ($0) ($2,800,000) ($7,200,000)
in previous year
= revenue recognized $2,800,000 $4,500,000 $2,700,000
in current year
gain/loss 2018 2019 2020
Revenue $2,800,000 $4,500,000 $2,700,000
- Cost incurred ($2,184,000) ($3,510,000) ($2,316,600)
Gross profit $616,000 $990,000 $383,400
The City of South River budget for the fiscal year ended June 30, 2020, included an appropriation for the police department in the amount of $8,721,000. During the month of July 2020, the following transactions occurred (in summary):
a, Purchase orders were issued in the amount of $563,000.
b. Of the $563,000 in purchase orders, $511,000 were filled, with invoices amounting to $501,000.
c. Salaries, not encumbered, amounted to $317,000.
d. A budget appropriations reduction in the amount of $60,000 was approved by the city council.
Required:
Prepare an appropriations, expenditures, and encumbrances ledger for the police department for the month of July. (Credit amounts should be indicated by a minus sign.)
Answer:
Appropriation ($) balance = – $8,661,000
Encumbrance balance = $52,000
Expenditure balance = $818,000
Unexpended Appropriation Balance = – $7,791,000
Explanation:
Note: See the attached excel file for the appropriations, expenditures, and encumbrances ledger for the police department for the month of July.
Also note: In the excel file, the last balance in column for the Unexpended Appropriation Balance is the balance obtained in the Transaction e row since the balance in the row is cumulative.
One of the reason why there's a need for human resource planning
Use the midpoint method when applicable to calculate the price elasticity of demand. A plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000. Economists working for the United States have determined that the elasticity of demand for gasoline is 0.5. Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.
Answer:
A plastic container company, raises the price of its signature Lunchbox container from $3.00 to $4.00 . As a result, the quantity sold drops from 20,000 to 15,000.
PED = (15,000 - 20,000)/[(20,000 + 15,000)/2] / (4 - 3)/[(4 + 3)/2]
PED = -0.2857 / 0.2857 = -1 or |1| in absolute terms
PED is unitary elastic, since a 1% increase in price will result in a 1% decrease in quantity demanded.
Capital Metro decides to increase bus fare rates from $2.00 to $2.21 . Consequently, the number of passengers who decide to take the bus in Austin drops from an average of 70,000 riders a day to an average of 61,000 riders a day.
PED midpoint method = (61,000 - 70,000)/[(61,000 + 70,000)/2] / (2.21 - 2)/[(2.21 + 2)/2]
PED midpoint method = -0.1374 / 0.0998 = -1.38 or |1.38| in absolute terms
PED is elastic, since a 1% increase in price will result in a larger decrease in quantity demanded.
Explanation:
PED midpoint method = (Q2 - Q1)/[(Q2 + Q1)/2] / (P2 - P1)/[(P2 + P1)/2]
The Arc Electronic Company had an income of 80 million dollars last year. Suppose the mean income offirms in the same industry as Arc for a year is 100 million
dollars with a standard deviation of 15 million dollars. If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will
carn more than Arc did last year? Round your answer to four decimal places
Answer:
23.89% probability that a randomly selected firm will earn more than Arc did last year
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation, the score of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the value, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will earn more than Arc did last year?
This is 1 subtracted by the value of Z when X = 85. So
has a value of 0.7611
1 - 0.7611 = 0.2389
23.89% probability that a randomly selected firm will earn more than Arc did last year
All managers are by necessity leaders.
O True
O False
Answer: true
Explanation:
Answer:
True
Explanation:
Both leaders and managers are critical for business success. ... The term "manager" is often associated with someone who tells other people what to do, while a "leader" inspires others to do their best through their words and actions without dictating.
Emir Company purchased equipment that cost $110,000 cash on January 1, Year 1. The equipment had an expected useful life of six years and an estimated salvage value of $8,000. Assuming that Emir depreciates its assets under the straight-line method, the amount of depreciation expense shown on the income statement prepared for Year 4 and the amount of accumulated depreciation shown on the balance sheet prepared as of December 31, Year 4, respectively, would be: Depreciation expense Accumulated depreciation A. $17,000 $17,000 B. $17,000 $68,000 C. $68,000 $17,000 D. $17,000 $51,000
Answer:
Annual depreciation= $17,000
Accumulated depreciation= $68,000
Explanation:
Giving the following information:
Purchase price= $110,000
Useful life= 6 years
Salvage value= $8,000
First, we need to calculate the annual depreciation under the straight-line method. The depreciation expense remains constant during a useful life.
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (110,000 - 8,000) / 6
Annual depreciation= $17,000
Now, the accumulated depreciation after 4 years:
Accumulated depreciation= 17,000*4= $68,000
Westco Company issued 15-year bonds a year ago at a coupon rate of 5.4 percent. The bonds make semiannual payments and have a par value of $1,000. If the YTM on these bonds is 4.5 percent, what is the current price of the bond in dollars?
The current price of the bond is $1097.40.
What is the current price of the bond?The current price is a function of the coupon payments, par value and the YTM.
Coupon payment = (5.4%/2) x $1000 = $27
Par value = $1000
YTM = 4.5% / 2 = 2,25%
Current price = (27 / 1.0225) + (27 / 1.0225^2) + (27 / 1.0225^3) + (27 / 1.0225^4) + (27 / 1.0225^5) + (27 / 1.0225^6) + (27 / 1.0225^8) + (27 / 1.0225^9) + (27 / 1.0225^10) + (27 / 1.0225^11) + (27 / 1.0225^12) + (27 / 1.0225^13) + (27 / 1.0225^14) + (27 / 1.0225^15) + (27 / 1.0225^16) + (27 / 1.0225^17) + (27 / 1.0225^18) + (27 / 1.0225^19) + (27 / 1.0225^20) + (27 / 1.0225^21) + (27 / 1.0225^22) + (27 / 1.0225^23) + (27 / 1.022524) + (27 / 1.0225^25) + (27 / 1.0225^27) + (27 / 1.0225^28) + (27 / 1.0225^29) + (27 / 1.0225^30) + (1000 / 1.0225) = $1097.40
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Gridley Company issued $800,000, 11%, 10-year bonds on December 31, 2019, for $730,000. Interest is payable annually on December 31. Gridley Company uses the straight-line method to amortize bond premium or discount. Prepare entries to record issuance of bonds, payment of interest, amortization of discount, and redemption at maturity. Instructions Prepare the journal entries to record the following. a. The issuance of the bonds. b. The payment of interest and the discount amortization on December 31, 2020. c. The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
Answer:
Gridley Company
Journal Entries:
a. The issuance of the bonds.
December 31, 2019:
Debit Cash Account $730,000
Debit Bonds Discount $70,000
Credit Bonds Payable $800,000
To record the issuance of 10-year bonds at 11%.
b. The payment of interest and the discount amortization on December 31, 2020.
Debit Interest Expense $88,000
Credit Cash Account $88,000
To record the payment of interest.
Debit Amortization Expense $7,000
Credit Bonds Discount $7,000
To record amortization of discount.
c. The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.
Debit Bonds Payable $800,000
Credit Cash Account $800,000
To record the redemption of the bonds at maturity.
Explanation:
a) Data and Calculations:
Bonds issued (face value) = $800,000
Cash Receipt (Discounted value) = $730,000
Discount value = $70,000
Bonds' duration = 10 years
Amortization of Discount = $7,000 ($70,000/10) under the straight-line method.
Interest rate = 11% annually ($88,000)
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows:
Inventories January 1 January 31
Materials $180,000 $145,500
Work in process 334,600 290,700
Finished goods 675,000 715,000
Direct labor $2,260,000
Materials purchased during January 1,375,000
Factory overhead incurred during January:
Indirect labor 115,000
Machinery depreciation 90,000
Heat, light, and power 55,000
Supplies 18,500
Property taxes 10,000
Miscellaneous costs 33,100
Required:
Prepare a cost of goods manufactured statement for January
Answer and Explanation:
The preparation of the cost of goods manufactured is presented below:
Sandusky Manufacturing Company
Statement of Cost of Goods Manufactured
For the month ended January 31
Opening Work In Progress Inventory $334,600
Direct Material:
Opening Material Inventory, $180,000
Add: Purchases during January $1,375,000
Cost of Materials available for use $1,555,000
Less: Ending Inventory -$145,500
Cost of Direct Materials used in Production $1,409,500
Direct Labor $2,260,000
Factory Overhead:
Indirect Labor $115,000
Machinery depreciation $90,000
Heat, Light and Power $55,000
Supplies $18,500
Property Taxes $10,000
Miscelleneous Costs 33,100
Total Factory Overhead $321,600
Total Manufacturing Cost $3,991,100
Total Manufacturing Costs $4,325,700
Less: Closing wip inventory $290,700
Cost of Goods Manufatured $4,035,000
Note
Total manufacturing costs = Starting Work in Progress + Total Manufact. Cost Incurred during Jan.
Total manufacturing costs = $334,600 + $3,991,100 = $4,325,700
Answer:
Cost of goods sold (cogs): 3,995,000
Explanation:
(Everything else above is correct, just cogs is wrong according to my hw)
Math goes as follows: 4,035,000+675,000+4,710,000-715,000=3,995,000.
675,000 is finished goods on january 1st, and 715,000 is finished goods on january 31st.
Public relations is an example of marketing. True False
Answer:
True
Explanation:
Marketing is the overall process of boosting public awareness of a product, person or service, while advertising and PR are promotion methods that fall under the 'marketing' umbrella term. Whereas public relations is about selling the company or brand through positively managing the communication channels between a company and its stakeholders. Overall, marketing activities are trying to achieve direct revenue, while PR is trying to drive a positive reputation through an effective PR strategy.
To understand more clearly, read the extra point below-
How are public relations used in marketing?
Public relations (PR) strategy may play a key role in an organization's promotional strategy. A planned approach to leveraging public relations opportunities can be just as important as advertising and sales promotions. Public relations is one of the most effective methods to communicate and relate to the market.
Public relations is an example of marketing. The statement given here is True.
What do you mean by Public relations?Public relations (PR) is the collection of methods and approaches used to control how news about a person or business is presented to the general public, particularly the media.
Its key objectives are to communicate significant business news or events, preserve a corporate image, and limit the negative effects of negative occurrences by giving them a good spin.
PR can take place through a press release from the business, a news conference, journalist interviews, social media posts, or other means. Every person or organization that operates in the public eye has to worry about the public learning about them or their methods.
Learn more about Public relations, here
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Dividends Per Share Imaging Inc., a developer of radiology equipment, has stock outstanding as follows: 24,000 shares of cumulative preferred 4% stock, $140 par, and 80,000 shares of $10 par common. During its first four years of operations, the following amounts were distributed as dividends: first year, $90,000; second year, $188,800; third year, $227,360; fourth year, $243,200.
Required:
Compute the dividends per share on each class of stock for each of the four years. Round all answers to two decimal places.
1st Year 2nd Year 3rd Year 4th Year
Preferred stock (dividend per share) $ $ $ $
Common stock (dividend per share) $ $ $ $
Answer:
year 1:
preferred stock dividends = 24,000 x 140 x 4% = $134,400, but only $90,000 were distributed ($44,400 to be distributed next year). Dividends per preferred stock share = $90,000 / 24,000 = $3.75
common stocks dividends = no common stock dividends distributed
year 2:
preferred stock dividends = $134,400 for the current year and $44,400 form last year = $178,800. Dividends per preferred stock share = $174,800 / 24,000 = $7.45
common stocks dividends = ($188,800 - $178,800) / 80,000 common stocks = $0.125 per common stock
year 3:
preferred stock dividends = $134,400 / 24,000 = $5.60 per preferred stock.
common stocks dividends = ($227,360 - $134,400) / 80,000 = $1.162 per common stock
year 4:
preferred stock dividends = $134,400 / 24,000 = $5.60 per preferred stock.
common stocks dividends = ($243,200 - $134,400) / 80,000 = $1.36 pe common stock