Worley Company buys surgical supplies from a variety of manufacturers and then resells and delivers these supplies to hundreds of hospitals. Worley sets its prices for all hospitals by marking up its cost of goods sold to those hospitals by 6%. For example, if a hospital buys supplies from Worley that had cost Worley $100 to buy from manufacturers, Worley would charge the hospital $106 to purchase these supplies.
For years, Worley believed that the 6% markup covered its selling and administrative expenses and provided a reasonable profit. However, in the face of declinin profits Worley decided to implement an activity-based costing system to help improve its understanding of customer profitability. The company broke its selling and administrative expenses into five activities as shown below:
Activity Cost Pool (Activity Measure) Total Cost Total Activity
Customer deliveries (Number of deliveries) $ 352,000 4,000 deliveries
Manual order processing (Number of manual orders) 539,000 7,000 orders
Electronic order processing (Number of electronic orders) 308,000 14,000 orders
Line item picking (Number of line items picked) 858,000 440,000 line items
Other organization-sustaining costs (None) 670,000
Total selling and administrative expenses $ 2,727,000
Worley gathered the data below for two of the many hospitals that it serves—University and Memorial (both hospitals purchased a total quantity of medical supplies that had cost Worley $36,000 to buy from its manufacturers):
Activity
Activity Measure University Memorial
Number of deliveries 14 21
Number of manual orders 0 43
Number of electronic orders 14 0
Number of line items picked 160 260
Required:
1. Compute the total revenue that Worley would receive from University and Memorial.
Total Revenue
University
Memorial
2. Compute the activity rate for each activity cost pool. (Round your answers to 2 decimal places.)
Activity Cost Pool
Activity Rate
Customer deliveries
Per delivery
Manual order processing
Per manual orde
Electronic order processing
Per electronic order
Line item picking
Per line item picked

Answer:

Worley Company

1. The Total Revenue that Worley would receive from:

Total Revenue

University   $1,963

Memorial   $6,006

2. Computation of the activity rate for each activity cost pool:

Activity Cost Pool                            Activity Rate

Customer deliveries                            $88     Per delivery

Manual order processing                    $77     Per manual orde

Electronic order processing                $22    Per electronic order

Line item picking                                  $1.95 Per line item picked

Explanation:

a) Data and Calculations:

Activity Cost Pool      (Activity Measure)        Total Cost     Total Activity

Customer deliveries (Number of deliveries) $ 352,000 4,000 deliveries

Manual order processing (Number of manual orders) 539,000 7,000 orders

Electronic order processing (Number of electronic orders) 308,000 14,000 orders

Line item picking (Number of line items picked) 858,000 440,000

Other organization-sustaining costs (None) 670,000

Total selling and administrative expenses $ 2,727,000

Activity Measure                    University      Memorial  Rates

Number of deliveries                   14                   21            $88

Number of manual orders           0                   43            $77

Number of electronic orders      14                   0              $22

Number of line items picked   160                260             $1.95

Activity Rate:                    Overhead Costs Usage          Rates (Cost/Usage)

Customer deliveries          $ 352,000       4,000 deliveries    $88.00

Manual order processing     539,000        7,000 orders        $77.00

Electronic order processing 308,000       14,000 orders       $22.00

Line item picking                  858,000    440,000                       $1.95

Other organization-sustaining costs                670,000

Total selling and administrative expenses $ 2,727,000

Total costs:

Activity Measure                         University                Memorial  

Number of deliveries                   $1,232 (14*$88)    $1,848 (21*$88)

Number of manual orders             0                            3,311 (43*$77)

Number of electronic orders          308 (14*$22)         0              

Number of line items picked           312 (160*$1.95)    507(260*$1.95)

Total costs incurred                   $1,852                  $5,666

Mark-up (6%)                                    111                         340

Total Revenue                           $1,963                   $6,006      

Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2021. The bonds sold for $739,814,813 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 12%. Interest is paid semiannually on June 30 and December 31. Required: 1. to 3. Prepare the journal entries to record their issuance by Federal on January 1, 2021, interest on June 30, 2021 (at the effective rate) and interest on December 31, 2021 (at the effective rate). 4. At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet

Your parents will retire in 14 years. They currently have $290,000, and they think they will need $1 million at retirement. What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds? Do not round intermediate calculations. Round your answer to two decimal places.

The President is considering the following policies, each of which is aimed at reducing violent crime byreducing the use of guns. In your report, illustrate each of these proposed policies in a supply-and-demanddiagram of the gun market, and explain whether the policy will have the desired effect on the gun market.
1. a tax on gun buyers
2. a tax on gun sellers
3. a price floor on guns
4. a tax on ammunition

Which of the following statements are true?

a. Markets by definition involve the exchange of money for goods and services.
b. Markets are forums in which parties exchange goods and services at a "price," where the latter can be flexibly construed.
c. Your current economics course, the next election, and the dating scene can all be seen as markets.

Choose the three primary ledgers used in double-entry bookkeeping?

Accounts payable ledger*
Accounts receivable ledger
Bookkeeping software
General ledger
The chart of accounts
Journals

Nittany Company borrowed $60,000 from Lion Corporation on September 1, 2018 signing a 9-month payable with an interest rate of 3%. Nittany Co operates on a calendar year basis and is preparing its year-end financial statements In preparing its Income Statement for 2018, what amount of Interest Expense should Nittany Co. report from this note payable

As soon as products are completed, their product costs are transferred from Raw Materials Inventory to Finished-Goods Inventory. True False

All financial statements:_________
a) help to evaluate what happened in the past.
b) provide a picture of the company at a moment in time.
c) describe changes that took place over a period of time.
d) contain the most up to date information about the company.

The Acmeville Metropolitan Bus Service currently charges $0.67 for an all-day ticket, and has an average of 513 riders a day. The bus company is not earning a profit, but according to their contract with the city, they cannot cut the number of buses on the road. They must therefore find a way to increase revenues. The bus company is considering increasing the ticket price to $ 0.78. The marketing department's studies indicate this price increase would reduce usage to 249 riders per day. Calculate the absolute value of the price elasticity of demand for bus tickets using the simple percentage change method.
A. Demand is inelastic, so decreasing ticket prices w ncreaSe revenue.
B. Demand is inelastic, so increasing ticket prices will increase revenue.
C. Demand is elastic, so increasing ticket prices will increase revenue.
D. Demand is elastic, so decreasing ticket prices will increase revenue.

On an automotive assembly line, Naif Marrot checks to make sure that recently painted car bodies are free of paint bubbles. Other people are assigned the task of seeing that other parts of the car are built to specifications. The task of building an automobile has been subdivided into a series of subtasks. The concepts of _____
have been employed in this situation.

(A) decentralization and unity of command

(B) product design and structured manufacturing

(C) functionalism and specialization

(D) centralization and product departmentalization

(E) specialization and division of labor

The Fisher equation tells us that the real interest rate approximately equals the nominal rate minus the inflation rate. Suppose the inflation rate increases from 3% to 5%. Does the Fisher equation imply that this increase will result in a fall in the real rate of interest

2. Marginal analysis is sometimes called "thinking on the

Brooke has a sign company. She creates colorful signs for birthday parties that can be placed outside of the front door to announce a birthday or welcome birthday party guests. She only advertises on social media. Customers go to her website and place an order, and Brooke delivers a hand-painted sign. Brooke uses social media for all of the following reasons EXCEPT _______.

a. she can respond to requests for birthday events in real time.
b. she can use local network television affiliates to push her message out to a mass audience.
c. she can establish meaningful connections with customers and get references
d. she can engage customers in their products and services

A major argument of the podcast is that corporations have the power to change their employee's behaviors and even how they see the world, and that's how they can achieve social change- at a grassroots level. How does this relate to your own understanding of business ethics, and do you think it makes sense to look at corporate's capacity for global change at this level? Why or why not?

Cool Beans is a locally owned coffeeshop that competes with two large coffee chains, PlanetEuro and Frothies. Alicia, the owner, is considering two different marketing promotions and thinks that CLV analysis will help her decide the best course of action. An average specialty coffee drink sells for $3.40 and has a margin of 65%. One promotion is providing loyalty cards to her regular customers that would give them one free specialty coffee drink after 10 regular purchases. Alicia estimates that this will increase the frequency of their purchases by 13%. Currently, her customers average buying 2 specialty drinks per week. The second promotion is targeted at new customers. She would offer a free specialty drink to incoming college freshmen by providing a coupon with their orientation packages. Because of her location near the college, she expects that 550 students will come to Cool Beans for a free trial. Of those, she anticipates that 18% will become regular customers who will purchase at least one specialty drink each week. The cost of printing and distributing the coupons is $115.
What is the CLV of a customer over the time horizon of one year prior to introduction of the loyalty program?

The Manda Panda Company uses the allowance method to account for bad debts. At the beginning of 2018, the allowance account had a credit balance of $96,950. Credit sales for 2018 totaled $3,150,000 and the year-end accounts receivable balance was $537,500. During this year, $94,250 in receivables were determined to be uncollectible. Manda Panda anticipates that 3% of all credit sales will ultimately become uncollectible. The fiscal year ends on December 31.

Required:
a. Does this situation describe a loss contingency? Explain.
b. What is the bad debt expense that Manda Panda should report in its 2018 income statement?
c. Prepare the appropriate journal entry to record the contingency.
d. What is the net realizable value (book value) Manda Panda should report in its 2018 balance sheet?

The wholesale cost of a video game is $459.45. The original markup was 51% based on selling price. Find the final sale price after the following series of price changes: a markup of 24%, a markup of 17%, and a markdown of 10%.

2. Meatball Corporation, a merchandising company, reported the following results for June. Number of units sold 6,700 Selling price per unit $600 Unit cost of goods sold $419 Variable selling expense per unit $62 Variable administrative expense per unit $30 Total fixed selling expense $126,200 Total fixed administrative expense $208,100 *Cost of goods sold is a variable cost in this company. 1) Prepare a traditional income statement for June.

Which of these are functions of an entrepreneur?
providing loans to small and large businesses
providing services to the society without any goals to earn profits
offering value to consumers through products and services
contributing to the government’s revenue in the form of taxes

Can someone help me with this ?

Toyna Recruitz is an organization that allows its employees to work from home. Most of the interaction between the employees and the organization takes place through email. Moreover, the organization is able to maintain increased employee performance and satisfaction. Identify the work option offered by Toyna Recruitz to its employees.

Marigold Company discovered the following errors made in January 2022.
1. A payment of Salaries and Wages Expense of $900 was debited to Equipment and credited to Cash, both for $900.
2. A collection of $6,500 from a client on account was debited to Cash $650 and credited to Service Revenue $650.
3. The purchase of equipment on account for $510 was debited to Equipment $150 and credited to Accounts Payable $150.
A. Correct the errors by reversing the incorrect entry and preparing the correct entry.
B. Correct the errors without reversing the incorrect entry.
Account Titles Debit Credit
1. Salaries And Wages Expense 700
Equipment 700
2. Cash 1000
Service Revenue 100
Accounts Receivable 100
3. Equipment 335
Accounts Payable 335

The ___________ ____ __________ Endorsement area includes a variety of specialization areas within the world of work such as Agriculture, Food and Natural Resources; Architecture and Construction; Arts A/V Technology and Communications; Business Management and Administration; Marketing, Sales and Service; Finance, Hospitality and Tourism; Information Technology; Manufacturing and Transportation and Distribution.

a. Science, Technology, Engineering,m & Mathematics
b. Business & Industry
c. Arts & Humanities
d. Public Services

Goodwill arises when one firm acquires the net assets of another firm and pays more for those net assets than their current fair value. Suppose that Target Co. had operating income of $59,000 and net assets with a fair value of $162,000. Takeover Co. pays $308,000 for Target Co.'s net assets and business activities.
How much goodwill will result from this transaction?
Calculate the ROI for Target Co. based on its present operating income and the fair value of its net assets. (Round your percentage answer to 2 decimal places.)
Calculate the ROI that Takeover Co. will earn if the operating income of the acquired net assets continues to be $64,900. (Round your percentage answer to 2 decimal places.)
Takeover Co. is willing to pay $93,000 more than fair value for the net assets acquired from Target Co. as it represents goodwill and the expected superior earnings in future years. True or False?

Help please! Business questions

Countryside Corporation provides $6,000 worth of lawn care on account during the month. Experience suggests that about 2% of net credit sales will not be collected. In conformity with the expense recognition principle, the company should:

Creative Images Co. offers its services to individuals desiring to improve their personal images. After the accounts have been adjusted at July 31, the end of the fiscal year, the following balances were taken from the ledger of Creative Images Co.:
Violet Lozano, Capital $930,000
Violet Lozano, Drawing 12,000
Fees Earned 694,400
Wages Expense 471,000
Rent Expense 69,500
Supplies Expense 11,100
Miscellaneous Expense 14,900
Required: Journalize the two entries required to close the accounts.
Post-Closing Trial Balance
An accountant prepared the following post-closing trial balance:
La Casa Services Co.
Post-Closing Trial Balance
March 31, 20Y6
Debit Balances Credit Balances
Cash 12,700
Accounts Receivable 28,190
Supplies 1,780
Equipment 125,600
Accumulated Depreciation 41,910
Accounts Payable 15,240
Salaries Payable 1,400
Unearned Rent 5,720
Sonya Flynn, Capital 104,000
207,760 128,780
Prepare a corrected post-closing trial balance.

Home Realty, Incorporated, has been operating for three years and is owned by three investors. J. Doe owns 60 percent of the total outstanding stock of 9,000 shares and is the managing executive in charge. On December 31, the following financial items for the entire year were determined: sales revenue, $166,000; salaries and wages expense, $97,000; interest expense, $6,300; advertising expenses, $9,025; and income tax expense, $18,500. Also during the year, the company declared and paid the owners dividends amounting to $12,000.

Required:
Prepare the company’s income statement.

The May transactions of Hanschu Corporation were as follows.

May 4 Paid $600 due for supplies previously purchased on account.
7 Performed advisory services on account for $6,500.
8 Purchased supplies for $800 on account.
9 Purchased equipment for $1,000 in cash.
17 Paid employees $500 in cash.
22 Received bill for equipment repairs of $800.
29 Paid $1,100 for 12 months of insurance policy. Coverage begins June 1.

Required:
Journalize the transactions.

Inspirational Inc. is a motivational consulting business. At the end of its accounting period, October 31, 20Y2, Inspirational has assets of $815,910 and liabilities of $257,830. Using the accounting equation and considering each case independently, determine the following amounts:a. Stockholders' equity as of October 31, 20Y2. $b. Stockholders' equity as of October 31, 20Y3, assuming that assets increased by $128,910 and liabilities increased by $77,510 during 20Y3. $c. Stockholders' equity as of October 31, 20Y3, assuming that assets decreased by $64,460 and liabilities increased by $22,850 during 20Y3. $d. Stockholders' equity as of October 31, 20Y3, assuming that assets increased by $107,700 and liabilities decreased by $40,800 during 20Y3. $e. Net income (or net loss) during 20Y3, assuming that as of October 31, 20Y3, assets were $1,028,050, liabilities were $167,260, and no additional common stock was issued or dividends paid. $