Answer:
E.) all of the choices are objectives of structure models
Explanation:
Structural model can be regarded as a model that gives a view about a system whereby emphasizing on the object's structure as well as their relationships, classifiers and their operation and attributes.
The objective of a structure model are;
✓ Designate things of interest in the business domain.
✓Describe characteristics of things of interest in the business domain.
✓Support relational database design.
✓Describe the sequence of activities
To correct for positive externalities, the government should:_________
(A) do nothing, since no harm is done by positive externalities
(B) levy a tax on the output of the good or service
(C) pay a subsidy equal to the marginal external benefit
(D) impose a price ceiling on the good to discourage its production
(E) impose a price floor on the good at which the marginal private benefit equals the marginal social cost
Answer:
e
Explanation:
A good has positive externality if the benefits to third parties not involved in production is greater than the cost. an example of an activity that generates positive externality is research and development. Due to the high cost of R & D, they are usually under-produced. Government can encourage the production of activities that generate positive externality by granting subsidies.
4) (Economies of Scale) Suppose a firm has chosen its quantity so that its marginal cost is equal to the market price, and is making positive profits because its revenues exceed its costs. Is this firm operating in a range where it production exhibits economies of scale or diseconomies of scale
Answer:
The firm is operating in a product range that exhibits diseconomies of scale. A further explanation is given below.
Explanation:
The company operates within a target area where there have been efficiency gains throughout production. Since the company makes benefits and opportunities, which means that the profitability outweighs the amount, the price could perhaps outweigh the estimated price at either the amount of development. As well as the valuation is equivalent to the cost, and marginal cost should therefore significantly increase the overall value.Researchers understand exactly this because when market forces are already in place, marginal cost is already below the estimated price, such that, marginal cost would be below the estimated price. After all, once government subsidies have been in place because when efficiency gains are in place, marginal cost should be above total value, which indicates that sometimes marginal cost exceeds average cost whenever economies of level have been in place.An accounts payable program posted a payable to a vendor not included in the online vendor master file. A control that would prevent this error is a:___.
A. Validity check.
B. Parity check.
C. Range check.
D. Reasonableness test.
Answer:
Option A: Validity check
Explanation:
Data are commonly known as facts and figures or a set of values, measurements or records of transactions that are raw and unprocessed while Information are data which has undergone processing thereby giving it a new meaning.
Data entry controls includes Field check, sign check, limit check, range check, validity check e.t.c.
Validity Check is simply known as an edit test. It is one where the use of an identification number or transaction code is compared with a table of valid identification numbers or codes that is stored or maintained in computer memory.
An Indian Food Truck is considering a new tandoori oven in which to bake naan. Tandoor A can handle 22 naan in an hour. The fixed costs associated with commercial grade tandoori A are $ 2,000 and the variable costs are $1.00 per naan. Oven B is larger and can handle 44 naan per hour. However, neither oven should be left on all day. The fixed costs associated with tandoori B are $3,500 and the variable costs are $ .75 per naan. The naan sell for $3.00 each.
Required:
a. What is the breakeven point in for tandoori A and B?
b. Which tandoori should be chosen if it is expected to make thousands of naan each year?
Answer:
24 dollars
Explanation:
ΔABC ~ ΔEFD
is the pyramid change of the mathametical dad monet
a. The breakeven point for tandoori A and B is 1000 and 1556 respectively.
b. The tandoori B should be selected as it contains less variable cost.
a. The break-even point is
For tandoori A= 2,000 ÷($3 - $1)
= 1,000
For tandoori B= 3500 ÷ ($3 - $0.75)
= 1556
b.
The Point of indifference is
= (3500 - 2000) ÷ ($1 - $0.75)
= 6000
The following things should be considered:
For tandoori A, it contains a lesser fixed cost.For tandoori B, it contains lesser variable cost also it makes high yearly production.Therefore we can conclude that the tandoori B should be selected as it contains less variable cost.
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You have been engaged to review the financial statements of Whispering Corporation. In the course of your examination, you conclude that the bookkeeper hired during the current year is not doing a good job. You notice a number of irregularities as follows:
1. Year-end wages payable of $3,520 were not recorded because the bookkeeper thought that "they were immaterial."
2. Accrued vacation pay for the year of $34,000 was not recorded because the bookkeeper "never heard that you had to do it."
3. Insurance for a 12-month period purchased on November 1 of this year was charged to insurance expense in the amount of $2,568 because "the amount of the check is about the same every year."
4. Reported sales revenue for the year is $2,213,280. This includes all sales taxes collected for the year. The sales tax rate is 6%. Because the sales tax is forwarded to the state’s Department of Revenue, the Sales Tax Expense account is debited. The bookkeeper thought that "the sales tax is a selling expense." At the end of the current year, the balance in the Sales Tax Expense account is $108,580.
Required:
Prepare the necessary correcting entries, assuming that Headland uses a calendar-year basis.
Answer:
1. Dr Salaries and wages expense $3,520
Cr Salaries and wages payable $3,520
2. Dr Salaries and wages expense $34,000
Cr Salaries and wages payable $34,000
3. Dr Prepaid Insurance$2,140
Cr Insurance Expense $2,140
4. Dr Sales Revenue $132,797
Cr Sales tax payable $132,797
5. Dr Sales tax payable $108,580
Cr Sales tax expense $108,580
Explanation:
Preparation of the necessary correcting entries, assuming that Headland uses a calendar-year basis
1. Dr Salaries and wages expense $3,520
Cr Salaries and wages payable $3,520
(Being to record wages payable)
2. Dr Salaries and wages expense $34,000
Cr Salaries and wages payable $34,000
(Being to record accrued vacation payment)
3. Dr Prepaid Insurance$2,140
Cr Insurance Expense $2,140
[$2,568-($2,568*2/12)]
(Being to record 2 months prepaid insurance premium)
4. Dr Sales Revenue $132,797
Cr Sales tax payable $132,797
(6%*$2,213,280)
(Being to record sales tax due)
5. Dr Sales tax payable $108,580
Cr Sales tax expense $108,580
(Being to record prior entry)
Choose a company that is currently listed on the Australian Stock Exchange and whose conduct is being considered by the Royal Commission mentioned above. Discuss whether your chosen company adheres to the principles of good corporate governance. Give reasons for your answer, including examples of good or poor corporate governance exhibited by your chosen company.
Answer:
Rio Tinto is an Australian Company for metal and mining. The company founded in 1873 and it has headquarter in London and has a corporate office in Melbourne.
Explanation:
Corporate Governance is the standards for process and practices in the organization. The standards deal with the application of certain rules in the business scenarios. The application of corporate governance in the company is not only on management but it is also on employees. Rio Tinto adopts corporate governance practices in its organization and all the management follows the good corporate governance practices. The company has also listed its compliance statements on its website. The company abide by all the good corporate governance practices. The CEO and CFO of the company are two separate personnel which is good corporate governance practice. There is segregation of duties in company.
Prepare a classified year-end balance sheet, (Note: A $9,000 installment on the long-term note payable is due within one year.) The calendar year-end adjusted trial balance for Blessinger Co. follows
BLESSINGER CO.
Adjusted Trial Balance
December 31, 2017
Cash $112,000
Accounts receivable 27,000
Prepaid Prepaid 15000
Insurance 9000
Office supplies 3300
Office equipment 38000
Accumulated depreciation-Equipment 3200
Building 288000
Accumulated depreciation-Building 42000
Land 700,000
Accounts payable 25800
Salaries payable 14,500
Interest payable 2,500
Long-term note payable 72,000
P.Blessinger, Capital 910,000
P. Blessinger, Withdrawals 200,500
Service fees earned 430,800
Salaries expense 90,000
Insurance expense 5200
Rent expense 5000
Depreciation expense-Equipment 800
Depreciation expense-Building 7000
Totals $1500,800 $1500,800
Answer:
Blessinger Co.
Classified Balance Sheet as at December 31, 2017
ASSETS
Non- Current Assets
Office equipment $38,000
Accumulated depreciation-Equipment ($3,200) $34,800
Building $288,000
Accumulated depreciation-Building ($42,000) $246,000
Land $700,000
Total Non Current Assets $980,800
Current Assets
Accounts receivable $27,000
Prepaid Prepaid $15,000
Insurance $9,000
Office supplies $3,300
Cash $112,000
Total Current Assets $166,300
TOTAL ASSETS $1,157,100
EQUITY AND LIABILITIES
LIABILITIES
Current Liabilities
Accounts payable $25,800
Salaries payable $14,500
Interest payable $2,500
Note Payable $9,000
Total Current Liabilities $51,800
Non-Current Liabilities
Long-term note payable ($72,000 - $9,000) $63,000
Total Non- Current Liabilities $63,000
TOTAL LIABILITIES $114,800
EQUITY
P.Blessinger, Capital $910,000
P. Blessinger, Withdrawals ($200,500)
Profit for the Year $332,800
TOTAL EQUITY $1,042,300
TOTAL EQUITY AND LIABILITIES $1,157,100
Explanation:
A Balance Sheet shows the Balance of Assets, Liabilities and Equity as at the Reporting date.
Calculation of Profit for the year :
$ $
Service fees earned 430,800
Less Expenses
Salaries expense 90,000
Insurance expense 5,200
Rent expense 5,000
Depreciation expense-Equipment 800
Depreciation expense-Building 7,000 (108,000)
Profit for the year 332,800
University Car Wash built a deluxe car wash across the street from campus. The new machines cost $249,000 including installation. The company estimates that the equipment will have a residual value of $25,500. University Car Wash also estimates it will use the machine for six years or about 12,500 total hours. Actual use per year was as follows:Year Hours Used1. 2,9002. 1,8003. 1,9004. 2,1005. 1,9006. 1,900
Required:
1. Prepare a depreciation schedule for six years using the straight-line method.
2. Prepare a depreciation schedule for six years using double declining balance method.
3. Prepare a depreciation schedule for six years using activity cost method.
Answer:
1. straight line depreciation
depreciable value = $249,000 - $25,500 = $223,500
depreciation rate per year = $223,500 / 6 = $37,250
2. double-declining balance
depreciation rate year 1 = 2 x 1/6 x $249,000 = $83,000
depreciation rate year 2 = 2 x 1/6 x $166,000 = $55,333
depreciation rate year 3 = 2 x 1/6 x $110,667 = $36,889
depreciation rate year 4 = 2 x 1/6 x $73,778 = $24,593
depreciation rate year 5 = 2 x 1/6 x $49,185 = $16,395
depreciation rate year 6 = $32,790 - $25,500 = $7,290
units of activity
depreciable value = $223,500
depreciation rate per unit = $223,500 / 12,500 = $17.88 per unit
depreciation rate year 1 = $17.88 x 2,900 = $51,852
depreciation rate year 2 = $17.88 x 1,800 = $32,184
depreciation rate year 3 = $17.88 x 1,900 = $33,972
depreciation rate year 4 = $17.88 x 2,100 = $37,548
depreciation rate year 5 = $17.88 x 1,900 = $33,972
depreciation rate year 6 = $17.88 - 1,900 = $33,972
A counterfeit id is intended to an official document, but is not authentic
Answer:
If this is the case then it is not valid.
Explanation:
Any counterfeit id is illegal and should never be rendered to be used for any purpose in relation to official documents.
Condensed financial data of Granger Inc. follow.
Granger Inc.
Comparative Balance Sheets
December 31
Assets 2017 2016
Cash $ 80,800 $ 48,400
Accounts receivable 87,800 38,000
Inventory 112,500 102,850
Prepaid expenses 28,400 26,000
Long-term investments 138,000 109,000
Plant assets 285,000 242,500
Accumulated depreciation (50,000) (52,000)
Total $682,500 $514,750
Liabilities and Stockholders' Equity
Accounts payable $ 102,000 $ 67,300
Accrued expenses payable 16,500 21,000
Bonds payable 110,000 146,000
Common stock 220,000 175,000
Retained earnings 234,000 105,450
Total $682,500 $514,750
Granger Inc.
Income Statement Data
For the Year Ended December 31, 2017
Sales revenue $ 388,460
Less:
Cost of goods sold $ 135,460
Operating expenses, excluding depreciation 12,410
Depreciation expense 46,500
Income tax expense 27,280
Interest expense 4,730
Loss on disposal of plant assets 7,500 233,880
Net income $ 154,580
Additional information:
1.New plant assets costing $100,000 were purchased for cash during the year.
2.Old plant assets having an original cost of $57,500 and accumulated depreciation of $48,500 were sold for $1,500 cash.
3.Bonds payable matured and were paid off at face value for cash.
4.A cash dividend of $26,030 was declared and paid during the year. Further analysis reveals that accounts payable pertain to merchandise creditors.
Prepare a statement of cash flows for Granger Inc. using the direct method. (Show amounts in the investing and financing sections that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Answer:
Granger Inc
Statement of cash flows for the year ended December 31 2017
Cashflow from Operating Activities
Cash Received from customers $338,660
Cash Paid to Suppliers and Employees ($129,720)
Cash Generated from Operations $208,940
Interest expense paid ($4,730)
Income tax expense paid ($27,280)
Net Cash from Operating Activities $176,930
Cashflow from Investing Activities
Purchases of New Plant ($100,000)
Proceeds from Sale of Old Plants $1,500
Purchases of Long term investments ($29,000)
Net Cash from Investing Activities ($127,500)
Cashflow from Financing Activities
Repayments of Bonds ($36,000)
Cash Dividends ($26,030)
Issue of Shares $45,000
Net Cash from Financing Activities ($17,000)
Movement in Cash and Cash Equivalent $32,400
Cash and Cash Equivalents at the Beginning of the year $48,400
Cash and Cash Equivalents at the End of the year $80,800
Explanation:
Working 1
Cash Paid to Suppliers and Employees calculation :
Cost of goods sold $135,460
Add Operating Expenses $12,410
$147,870
Adjustment of Working Capital items :
Increase in Inventory $9,650
Increase in Prepaid expenses $2,400
Increase in Accounts payable ($34,700)
Decrease in Accrued expenses payable $4,500
Cash Paid to Suppliers and Employees $129,720
Working 2
Cash Received from Customers :
Sales revenue $388,460
Less Increase in Accounts receivable ($49,800)
Cash Received from customers $338,660
If the 3 employees are paid an additional $4/hour for any extra hours they work, they will be motivated to maintain their production rate past the 4th hour, and add one extra pizza due to not making any breadsticks. In this case, the pizza parlor would need to be open for a total of _____ hours to meet the new demand.
Answer:
The answer is "16 hours"
Explanation:
The 3 workers were paid an extra fee.
[tex]\frac{\$4}{hour} \\\\3 \times 4= 12 \ productivity \\\\[/tex]
Their output rate will be sustained after the [tex]4^{th}[/tex]hour,
[tex]= 12 + 4 \\\\= 16 \ hours[/tex]
Acton Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its most recent year of operations. Estimated manufacturing overhead $202,600 Estimated machine-hours 2,000 Actual manufacturing overhead $194,600 Actual machine-hours 1,930 The estimates of the manufacturing overhead and of machine-hours were made at the beginning of the year for the purpose of computing the company's predetermined overhead rate for the year. The applied manufacturing overhead for the year is closest to:
Answer:
$195,509
Explanation:
The computation of the applied manufacturing overhead is shown below:
But before that the predetermined overhead rate is
= Estimated manufacturing overhead ÷ estimated machine hours
= $202,600 ÷ 2,000
= $101.30
Now the applied overhead is
= Actual machine hours × predetermined overhead rate
= 1,930 × $101.30
= $195,509
Grahame, Inc. has a fiscal year-end of September 30th. On March 1, 2015, Grahame authorized $800,000 in bonds payable; the bonds carry a stated interest rate of 6%, interest to be paid semi-annually on February 28, and August 31st with a term of 12 years. On August 1, 2016, Grahame issued hree-quarters of the bonds at a premium of $25,400.
Prepare the journal entries that would be required relating to the bonds over period March 1, 2015 through September 30, 2016.
Answer:
Grahame, Inc.
Journal Entries:
March 1, 2015:
No journal entry. A memorandum record is made to recognize that $800,000 bonds payable were authorized to be issued, at an interest rate of 6% with a maturity period of 12 years.
August 1, 2016:
Debit Cash $625,400
Credit Bonds Payable $600,000
Credit Bonds Premium $25,400
To record the issue of 3/4 of the $800,000 bonds payable at a premium of $25,400.
September 30, 2016:
Debit Interest Expense $5,647
Credit Interest Payable $5,647
To accrue interest on bonds payable.
Explanation:
a) Data and Calculations:
Authorized bonds payable = $800,000
Rate of interest = 6%
Bonds maturity period = 12 years
Interest payable on the bonds on February 28 and August 31st.
Issued bonds payable = $600,000 ($800,000 * 3/4)
Date of issue = August 1, 2016
Interest Expense = $600,000 * 6% * 2/12 = $6,000
Bonds Premium amortization = $25,400/12 * 2/12 = $353
The interest expense will be reduced by $353 to $5,647 ($6,000 - 353)
Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2019 include: beginning inven tory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales dur ing the first six months totaled $490,000. The estimated inventory at June 30, 2019, would be:_______.
a. $68,200.
b. $55,000.
c. $71,500
d. $63,250.
Answer:
A. $68,200
Explanation:
Retail Cost
Beginning inventory $60,000
$120,000
Plus: Net purchases. $312,000
$480,000
Goods available for sale $372,000
$600,000
Cost to retail percentage = $372,000 ÷ $600,000 = 62%
Less : Net sales
($490,000)
Estimated ending inventory at retail
$110,000
Estimated ending inventory at cost
62% × $110,000 = $68,200
Current Attempt in Progress Selected transactions for Oriole Company are presented below in journal form (without explanations).
Date Account Title Debit Credit
May 5 Accounts Receivable 4,540
Service Revenue 4,540
12 Cash 1,350
Accounts Receivable 1,350
15 Cash 2,000
Service Revenue 2,000
Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.)
Cash
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
Accounts Receivable
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
Service Revenue
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
5/55/125/15Ending Bal.
Answer:
1. Cash
Date Amount Date Amount
12-May $1,350
15-May $2,000
End bal $3,350
2. Accounts Receivable
Date Amount Date Amount
5-May $4,540 12-May $1,350
Bal c/d $3,190
$4,540 $4,540
End Bal $3,190
3. Service Revenue
Date Amount Date Amount
5-May $4,540
15-May $2,000
End Bal $6,540
A company's current assets are $26,420, its quick assets are $15,090 and its current liabilities are $12,520. Its acid-test ratio equals:
Answer: 1.21
Explanation:
Acid test ratio is also referred to as the quick ratio and it is calculated as:
Acid-Test Ratio = Quick Assets / Current Liabilities
where,
Quick assets = $15090
Current liabilities = $12520
Acid test ratio = $15090 / $12520
= 1.2052
= 1.21
21. Randall and Kim both work for a package delivery company. Randall drives a delivery truck and Kim manages the incoming and outgoing packages from her office. Even though they work for the same company, describe the different duties Randall and Kim have.
30 points and brainiest if answer is correct ( i gonna get scammed)
Answer:
Randall delivers the packages to people all in the area. Kim can give direction and tell him what and where to deliver things.
To everyone in the neighbourhood, Randall distributes the packages. Kim may instruct him and let him know what to deliver and where.
How do you define a role at work?Roles describe a person's place in a team. The activities and obligations of a person's specific function or job description are referred to as their responsibilities. Employees are responsible for a number of responsibilities at work. Employees are more likely to succeed in their duties at the firm and reach the goals of their team when their supervisor lays out the assignments in simple terms.
But in order to properly delegate, a manager or team leader has to be aware of that person's place in the organization. Understanding the advantages of establishing functional roles and tasks might be helpful as well. Besides improving team productivity, assigning functional roles and tasks has various additional advantages that might be advantageous to your firm as a whole.
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The following income statement data for A T&T Inc. and Verizon Communications Inc. were taken from their recent annual reports (in millions):
_____________________________ T&T _______________ Verizon
Revenues ............................ $132,447 ..................... $127,079
Cost of services (expense) ......... (60,611) ...................... (49,931)
Selling and marketing expense .... (39,697) ...................... (41,016)
Depreciation and other expenses ... (20,393) ...................... (16,533)
Operating income ................... $ 11,746 ...................... $ 19,599
a. Prepare a vertical analysis of the income statement for AT&T. (Round to one decimal place.)
b. Prepare a vertical analysis of the income statement for Verizon. (Round to one decimal place.)
c. Based on Requirements A and B, how does AT&T compare to Verizon?
Answer:
a. See the explanation below.
b. See the explanation below.
c. we have:
1. AT&T's Cost of services (expense) is 6.47% greater than Verizon's.
2. AT&T's Selling and marketing expenses is 2.30% less than Verizon's.
3. AT&T's Depreciation and other expenses is 2.39% greater than Verizon's.
4. AT&T's Operating income is 6.55% less than Verizon's.
Explanation:
The income statement vertical analysis is done by dividing each of the line item in the income statement by the revenue and then multiply by 100. That is:
Income statement vertical analysis formula = (Line item / Revenue) * 100 ...... (1)
Using equation (1), we can now proceed as follows:
a. Prepare a vertical analysis of the income statement for AT&T. (Round to one decimal place.)
This can be presented as follows:
AT&T
Vertical Analysis of the Income Statement
Particulars $'Million (%)
Revenues 132,447 100.00
Cost of services (expense) (60,611) 45.76
Selling and marketing expense (39,697) 29.97
Depreciation and other expenses (20,393) 15.40
Operating income 11,746 8.87
b. Prepare a vertical analysis of the income statement for Verizon. (Round to one decimal place.)
This can be presented as follows:
Verizon
Vertical Analysis of the Income Statement
Particulars $'Million (%)
Revenues 127,079 100.00
Cost of services (expense) (49,931) 39.29
Selling and marketing expense (41,016) 32.28
Depreciation and other expenses (16,533) 13.10
Operating income 19,599 15.42
c. Based on Requirements A and B, how does AT&T compare to Verizon?
This can be done as follows:
AT&T and Verizon
Comparison of the Vertical Analysis of the Income Statement
Particulars AT&T (%) Verizon (%) Diff. (%)
Revenues 100.00 100.00 0.00
Cost of services (expense) 45.76 39.39 6.47
Selling and marketing expenses 29.97 32.28 (2.30)
Depreciation and other expenses 15.40 13.10 2.39
Operating income 8.87 15.42 (6.55)
Note that Diff (%) is AT&T (%) minus Verizon (%)
From the above, we have:
1. AT&T's Cost of services (expense) is 6.47% greater than Verizon's.
2. AT&T's Selling and marketing expenses is 2.30% less than Verizon's.
3. AT&T's Depreciation and other expenses is 2.39% greater than Verizon's.
4. AT&T's Operating income is 6.55% less than Verizon's.
Match each of the economic sanctions below with an example of its use.
Boycott
?
Consumers refuse to buy
goods from companies
that use child labor.
Trade sanction
?
The U.S. government
prevents U.S. businesses
from trading with Iranian
businesses.
Embargo
?
The European Union
imposes a high tariff on
agricultural products
imported from the United
States.
It's correct?
Explanation:
It looks correct and even says correct? Don't understand the problem with this.
Consumers refuse to buy goods from companies that use child labor is the example of Boycott as the child labor is the crime and government has boycott the child labor.
What is child labor?Child labor is defined as work that harms children or stops them from attending school.
In recent decades, growing differences between rich and poor have pulled millions of young children out of school and into labor around the world, including in the United States.
Thus, option A is correct.
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questions What do you see as the main difference between a successful and an unsuccessful decision? How much does luck oues versus Skill have to do with it?
Answer:
Explanation:
the difference between a successful and an unsuccessful decision is with a successful decision you would be successful and make profit since this is the subject of business and an unsuccessful decision will make you lose profit and make you lose into Investments. there is no luck vs skill this is all skill actually. skill has to do with this because you need to have certain experience in a certain thing to be having a successful decision.
Manufacturing overhead has an underallocated balance of $12,400; raw materials inventory balance is $145,500; work in process inventory is $122,800; finished goods inventory is $140,300; and cost of goods sold is $170,500. After adjusting for the underallocated manufacturing overhead, what is cost of goods sold
Answer:
$182,900
Explanation:
With regards to the above, after adjusting for the under allocated manufacturing overhead, cost of goods sold would be
= Under allocated balance of manufacturing overhead + cost of goods sold
= $ 12,400 + $170,500
= $182,900
When comparing two companies, we notice that they are very similar in setup (e.g., same costs, same profit margins, same inventory turnovers etc.). However, the time it takes company A to pay for raw materials is longer than it takes company B, while the time it takes customers of company A to pay for the finished goods is shorter than it takes company B's customers. Which of these companies has a shorter cash flow cycle?
a. Company B
b. They are both the same
c. Company A
d. Could be either, depending on the days in inventory
Answer:
The correct answer is the option D: Could be either, depending on the days in inventory.
Explanation:
To begin with, the term known as "Cash Flow Cycle" in the world of business refers specifically to the movement of cash inside the organization regarding the whole process of producing them and selling them to the target audience. It will obviously start with the purchase of the raw materials and everything needed for production and it will end with the complete sale of the final product.
Secondly, in this case the cash flow cycle will depend on the days that the products remain in inventory due to the fact that they both are even when it comes to the purchase and selling processes.
Sheila Williams, a medical secretary, earns $2,437 monthly for a 34-hour week. For overtime work, she receives extra pay at the regular hourly rate up to 40 hours and time and one-half beyond 40 hours in any week. During one semimonthly pay period, Williams worked 10 hours overtime. Only 2 hours of this overtime were beyond 40 hours in any one week. Compute the following amounts:
a. The regular semimonthly earnings
b. The overtime earnings
c. The total earnings
Answer:
a. The regular semimonthly earnings
regular semimonthly earnings = [34 hours + 34 hours + (10 hours - 2 hours)] x [$2,437 / (34 hours x 4)] = 76 hours x $17.92/hr = $1,361.85
b. The overtime earnings
overtime earnings = 2 hours x [$2,437 / (34 hours x 4)] x 1.5 = $53.76
c. The total earnings
total earnings = $1,361.85 (regular earnings) + $53.76 (overtime earnings) = $1,415.61
Problem:
Juan Starts his Car Wash Business and here are the transaction on his one month operation.
1. Juan will start his Car Wash business namely “Fast Carwash” , using his own money amounting
8,000aed.
2. He also borrowed money from the bank amounting 2,000aed as additional to his capital.
3. He spent 500aed on car wash equipment.
4. He also spent 300aed for supplies in his busines paid in cash.
5. Juan got his 1st customer paid in cash amounting of 250aed.
6. After a few days he got his 2nd customer who paid in cash amounting 250aed.
7. Juan needs to replenish his supplies after the 2nd customer so he spend 150aed for supplies but on credit to the supplier.
Answer:
Juan Starts his Car Wash Business and here are the transaction on his one month operation. 1. Juan will start his Car Wash business namely “Fast Carwash” , using his own money amounting
8,000aed.
2. He also borrowed money from the bank amounting 2,000aed as additional to his capital.
3. He spend 500aed on car wash equipment.
4. He also spend 300aed for supplies in his busines paid in cash.
5. Juan got his 1st customer paid in cash amounting of 250aed.
6. After a few days he got his 2nd customer who paid in cash amounting 250aed.
7. Juan needs to replenish his supplies after the 2nd customer so he spend 150aed for supplies but on credit to the supplier.
Answer:
Wow the guy that rick rolls everyone needs help what a loser
Explanation:
The___ shows your company's equity.
A.) Invoice
B.) Profit & loss statement
C.) income statement
D.) Balance Sheet
Answer:
D
Explanation:
You are correct it is balance sheet :)
Answer:
D. Balance Sheet
Explanation:
An investment will pay $100 at the end of each of the next 3 years, $200 at the end of Year 4, $250 at the end of Year 5, and $450 at the end of Year 6. If other investments of equal risk earn 6% annually, what is this investment's present value? Its future value? Do not round intermediate calculations. Round your answers to the nearest cent. Present value: $ Future value: $
Answer:
$929.77
$1318.90
Explanation:
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
Cash flow each year from year 1 to 3 = $100
Cash flow in year 4 = $200
Cash flow in year 5 = $250
Cash flow in year 6 = $450
I = 6%
PV = $929.77
the formula for calculating future value is :
FV = PV ( 1 + r)^n
929.77 x (1+0.06)^6 = $1318.90
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
Stocks offer an expected rate of return of 18% with a standard deviation of 22%. Gold offers an expected return of 10% with a standard deviation of 30%. a. In light of the apparent inferiority of gold with respect to both mean return and volatility, would anyone hold gold
Which of the following are degrees of conflict:
specific
mild difference
disagreement
litigation
Answer:
Answer is Mild difference.
Explanation:
I hope it's helpful!
Cost drivers and functions. The representative cost drivers in the right column of this table are randomized so they do not match the list of functions in the left column.
Function Representative Cost Driver
1. Accounts payable A. Number of invoices sent
2. Recruiting B. Number of purchase orders
3. Network Maintenance C. Number of units manufactured
4. Production D. Number of computers on the network
5. Purchasing E. Number of employees hired 2
6. Warehousing F. Number of bills received from vendors
7. Billing G.Number of pallets moved
Required:
1. Match each function with its representative cost driver.
2. Give a second example of a cost driver for each function.
Answer:
Matching Functions with Cost Drivers
Function Cost Driver
1. Accounts payable F. Number of bills received from vendors
Number of accounts to be reconciled
2. Recruiting E. Number of employees hired
Number of interviews conducted
3. Network Maintenance D. Number of computers on the network
Number of inspections and visits
4. Production C. Number of units manufactured
Number of factory workers
5. Purchasing B. Number of purchase orders
Number of vendors
6. Warehousing G. Number of pallets moved
Number of forklifts in use
7. Billing F. Number of bills received from vendors
Number of checks written
Explanation:
a) Data:
Cost Drivers:
A. Number of invoices sent
B. Number of purchase orders
C. Number of units manufactured
D. Number of computers on the network
E. Number of employees hired
F. Number of bills received from vendors
G. Number of pallets moved
b) Cost drivers are the reasons why some particular costs occur. Remove the root cause the cost will become zero. Some cost drivers are caused by activities, which consume resources. Others are caused by the number of customers, products, and channels of production, which consume activities.
[The following information applies to the questions displayed below.]
Sara’s Salsa Company produces its condiments in two types: Extra Fine for restaurant customers and Family Style for home use. Salsa is prepared in department 1 and packaged in department 2. The activities, overhead costs, and drivers associated with these two manufacturing processes and the company’s production support activities follow.
Process Activity Overhead cost Driver Quantity
Department 1 Mixing $ 5,900 Machine hours 2,300
Cooking 12,500 Machine hours 2,300
Product testing 113,900 Batches 850
$ 132,300
Department 2 Machine calibration $ 320,000 Production runs 500
Labeling 19,000 Cases of output 150,000
Defects 8,000 Cases of output 150,000
$ 347,000
Support Recipe formulation $ 83,000 Focus groups 50
Heat, lights, and water 46,000 Machine hours 2,300
Materials handling 79,000 Container types 8
$ 208,000
Additional production information about its two product lines follows.
Extra Fine Family Style
Units produced 34,000 cases 116,000 cases
Batches 340 batches 510 batches
Machine hours 950 MH 1,350 MH
Focus groups 32 groups 18 groups
Container types 5 containers 3 containers
Production runs 250 runs 250 runs
Required:
1. Using a plantwide overhead rate based on cases, compute the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa.
2. Using the plantwide overhead rate, determine the total cost per case for the two products if the direct materials and direct labor cost is $10 per case of Extra Fine and $9 per case of Family Style.
3.a. If the market price of Extra Fine Salsa is $19 per case and the market price of Family Style Salsa is $13 per case, determine the gross profit per case for each product.
3.b. What might management conclude about the Family Style Salsa product line?
Answer:
1.$4.58 per cases
2. Extra Fine $14.58
Family Style $13.58
3a. Extra Fine $4.42
Family Style $0.58
3b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may inturn make the company to stop the production of the product in a situation where the cost are not reduced
Explanation:
1. Computation for the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa using Plantwide overhead rate
Using this formula
Overhead cost=Total overhead cost/Total volume
Let plug in the formula
First step is to calculate the Total overhead cost
Total overhead cost = $132,300+ $347,000+$208,000
Total overhead cost =$687,300
Second step is to calculate the Total volume
Total volume= 34,000 +116,000
Total volume=150,000 cases
Now let calculate the Overhead cost
Overhead cost=$687,300/150,000 cases
Overhead cost=$4.58 per cases (rounded)
Therefore since we are making use of plantwide rate which means that same overhead cost of the amount of $4.58per cases will be assigned to each of the two case .
2. Calculation to determine the total cost per case for the two products
Extra Fine Family Style
Direct materials + Direct Labor $ 10.00 $ 9.00
Add Overhead $4.58 $4.58
Manufacturing cost per case $ 14.58 $ 13.58
Therefore the the total cost per case for the two products will be:
Extra Fine $14.58
Family Style $13.58
3-A Calculation to determine the gross profit per case for each product.
Extra Fine Family Style
Selling price per case $ 19.00 $ 13.00
Less Manufacturing cost per case $14.58 $13.58
Gross profit (loss) per case $ 4.42 $ (0.58 )
Therefore the gross profit per case for each product will be ;
Extra Fine $4.42
Family Style $0.58
3-b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit because they are not profitable which may inturn make the company to stop the production of the product In a situation where the cost are not reduced .