Answer:
6400
Explanation:
Let the shares of money for Joan and Ngozi be 5x and 3x respectively.
Joan's share = 40.00 (given)
Therefore,
5x = 40,00
x = 40,00/5
x = 800
5x + 3x
= 8x
= 8*800
= 6400
Original sum of money = 6400
What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemployment D. to devalue foreign currency E, to promote economic growth F to control federal spending
Answer:
c. to eliminate unemployment,B. to promote price stability and F. to control federal spending
Explanation:
1. A service level agreement must be
a. A result of collaboration and negotiation
b. A simple clear summary document
Ć Stated in non-technical language
d. All of the above
Answer:
the answer is D
I think it will helps you
The management of City Front Inc. must decide between scrapping or reworking units that do not pass inspection. The company has 11,000 defective units that cost $6.00 per unit to manufacture. The units can be sold as is for $2.50 each or they can be reworked for $3.50 each and then sold for the full price of $9.70 each. What is the incremental income from reworking and selling the units
Answer:
If the units are reworked, income will increase by $40,700.
Explanation:
Giving the following information:
Number of units= 11,000
Sell as-is:
Selling price= $2.5
Rework:
Selling price= $9.7
Increase in costs= $3.5
We will take into account the incremental costs, the first production costs are equal to both options.
Sell as-is:
Effect on income= 11,000*2.5= $27,500 increase
Rework:
Effect on income= 11,000*(9.7 - 3.5)
Effect on income= $68,200 increase
If the units are reworked, income will increase by $40,700.
First and Ten Corporation’s stock returns have a covariance with the market portfolio of .0415. The standard deviation of the returns on the market portfolio is 20% and the expected market risk premium is 6.7%. The company has bonds outstanding with a total market value of $55 million and a yield to maturity of 6.5%. The company also has 4.2 million shares of common stock outstanding, each selling for $35. The company’s CEO considers the firm’s current debt-equity ratio optimal. The corporate tax rate is 21% and Treasury bills currently yield 3.4%. The company is considering the purchase of additional equipment that would cost $49 million. The expected unlevered cash flows from the equipment are $16.4 million per year for five years. Purchasing the equipment will not change the risk level of the firm. Calculate the NPV of the project.
Answer:
NPV of the project = $14,906,309.99
Explanation:
Note: See the attached excel file for calculation of the NPV of the project (in bold red color).
The weighted average cost of capital (WACC) used in calculating the discounting factor used in the attached excel file is calculated as follows:
Cost of equity = Treasury bills current yield + (Stock returns covariance with the market portfolio / Standard deviation of the returns on the market portfolio^2) * Expected market risk premium = 3.4% + (0.0415 / 20%^2) * 6.7% = 10.35%
After tax cost of debt = Bond yield to maturity * (100% - Tax rate) = 6.5% * (100% - 21%) = 5.14%
Market value of debt = $55,000,000
Market value of equity = Shares of common stock outstanding * Market price per share = 4,200,000 * $35 = $147,000,000
Total market value = Market value of equity + Market value of debt = $147,000,000 + $55,000,000 = $202,000,000
Equity share in the market value = $147,000,000 / $202,000,000 = 72.77%
Debt share in the market value = $55,000,000 / $202,000,000 = 27.23%
WACC = (Cost of equity * Equity share in the market value) + (After tax cost of debt * Debt share in the market value) = (10.35% * 72.77%) + (5.14% * 27.23%) = 8.93%
From attached excel file, we have:
NPV of the project = $14,906,309.99
Problems and Applications
For each of the following characteristics, indicate whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither.
Characteristic Perfectly Monopolistically
Competitive Competitive
Charges a price that is the same as marginal cost.
Sells a product differentiated from those of its competitors.
Produces at the efficient scale of the firm.
Equates marginal revenue and marginal cost.
Operates with excess capacity.
Earns economic profit in the long run.
Answer:
a perfectly competitive firm
a monopolistically competitive firm
a perfectly competitive firm
Both the perfectly competitive firm and monopolistically competitive firm
a monopolistically competitive firm
Neither firms
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
Firms are productive and allocative efficient and do not operate with excess capacity
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopoly has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services. As a result, price is always higher than marginal cost
Profit is maximised when marginal revenue equal marginal cost
An example of monopolistic competition are restaurants
an increase in supply is illustrated by a supply curve sifting to the right
Answer:
Right************, ***
The financial statements of Friendly Fashions include the following selected data (in millions): ($ in millions except share data) 2021 2020 Sales $ 8,143 $ 9,234 Net income $ 159 $ 628 Stockholders' equity $ 2,000 $ 2,240 Average Shares outstanding (in millions) 720 - Dividends per share $ 0.30 - Stock price $ 9.90 - Required: Calculate the following ratios for Friendly Fashions in 2021.
Answer:
A. Return on equity 7.5%
B. Dividend yield 3.03%
C. Earnings per share $0.22
D. Price-earnings ratio 45
Explanation:
A. Calculation to determine the Return on equity
First step is to calculate the Average stockholders equity using this formula
Average stockholders equity = ( Beginning stockholders equity + Ending stockholders equity)/2
Let plug in the formula
Average stockholders equity= (2,240+2000)/2
Average stockholders equity= $2,120 millions
Now let calculate the Return on equity using this formula
Return on equity=Net Income / Average stockholders equity
Let plug in the formula
Return on equity=159 / 2,120
Return on equity= 7.5%
B. Calculation to determine the Dividend yield
Using this formula
Dividend yield=Dividend per share / Stock price
Let plug in the formula
Dividend yield=0.30/ 9.90
Dividend yield= 3.03%
C. Calculation to determine the Earnings per share
Using this formula
Earnings per share=Net Income / Average shares outstanding
Let plug in the formula
Earnings per share=159/ 720
Earnings per share= $0.22
D. Calculation to determine Price-earnings ratio
Using this is formula
Price-earnings ratio=Stock price / Earnings per share
Let plug in the formula
Price-earnings ratio=9.90 / 0.22
Price-earnings ratio= 45
Sophia just graduated from college. She just sold the furniture from her college apartment for $450 in cash. She just deposited $2,700 in graduation money into her checking account and has $7,500 saved in her savings account from working part-time. She charged gas and groceries to her credit card that she hasn't paid off yet. The total balance on her credit card is $179. Sophia has driven the same car since high school that is valued at $3,254. She doesn't have an auto loan. Her total student loan amount after graduating is $54,178. What is Sophia's net worth? (Do not include the $ sign or commas in your answer).
Answer:
Sophia's Net Worth
Sophia's net worth is:
= ($40,453).
Explanation:
a) Data and Calculations:
Assets:
Proceeds from sale of furniture = $450
Checking account deposit = 2,700
Savings account 7,500
Car 3,254
Total assets $13,904
Liabilities:
Credit card $179
Student loan after graduating 54,178
Total liabilities $54,357
Sophia's net worth = ($40,453)
b) Sophia's net worth is in the negative because of the student loan. This implies that she is in debt. A negative net worth simply means that Sophia owes more than she owns. In other words, Sophia's liabilities exceed her assets' value.
Assume that on September 1, Office Depot had an inventory that included a variety of calculators. The company uses a perpetual inventory system. During September, these transactions occurred.
Sept. 6 Purchased calculators from Dragoo Co. at a total cost of $1,680, terms n/30.
Sept. 9 Paid freight of $60 on calculators purchased from Dragoo Co.
Sept. 10 Returned calculators to Dragoo Co. for $58 credit because they did not meet specifications.
Sept. 12 Sold calculators costing $580 for $810 to Fryer Book Store, terms n/30.
Sept. 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator costs $33.
Sept. 20 Sold calculators costing $570 for $740 to Heasley Card Shop, terms n/30.
Journalize the September transactions. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Answer:
Date Account Titles Debit Credit
Sept 6. Inventory $1,680
Accounts Payable $1,680
Sept 9. Inventory $60
Cash $60
Sept 10 Accounts Payable $58
Inventory $58
Sept 12 Accounts Receivable $810
Sales Revenues $810
Cost of Goods Sold $580
Inventory $580
Sept 14 Sales returns $45
Accounts Receivable $45
Inventory $33
Cost of Goods Sold $33
Sept 20 Accounts Receivable $740
Sales Revenues $740
Cost of Goods Sold $570
Inventory $570
Income Statement The following account balances were taken from the adjusted trial balance for Urgent Messenger Service, a delivery service firm, for the fiscal year ended November 30, 20Y1: Depreciation Expense $6,700 Fees Earned 355,800 Insurance Expense 1,270 Miscellaneous Expense 2,680 Rent Expense 50,900 Salaries Expense 178,900 Supplies Expense 2,280 Utilities Expense 19,400 Prepare an income statement for Urgent Messenger Service.
Answer:
$93,670
Explanation:
Preparation of an income statement for Urgent Mess
INCOME STATEMENT
Urgent messenger service
for the year ended november 30, 20Y1
REVENUE :
Fees earned $355,800
Less expenses :
depreciation expense ($6,700)
insurance expense ($1,270)
miscellaneous expense ($2,680)
rent expense ($50,900)
salaries expense ($178,900)
supplies expense ($2,280)
utilities expense ($19,400)
TOTAL EXPENSES ($262,130)
NET INCOME $93,670
($355,800-$262,130)
Therefore the income statement for Urgent Mess will be $93,670
The net income of Urgent Messenger Service is $93,670.
INCOME STATEMENT
REVENUE:
Fees earned $355,800
Expenses :
Depreciation expense ($6,700)
insurance expense ($1,270)
Miscellaneous expense ($2,680)
Rent expense ($50,900)
Salaries expense ($178,900)
Supplies expense ($2,280)
Utilities expense ($19,400)
Total Expenses ($262,130)
Net Income $93,670
In conclusion, the net income of Urgent Messenger Service is $93,670.
Read more about Income Statement
brainly.com/question/24498019
Journal Entries (Note Received, Renewed, and Collected) 1. Prepare general journal entries for the transactions. When required, enter amounts to the nearest cent. If an amount box does not require an entry, leave it blank. Assume 360 days in a year. May 22 Received a 30-day, 6% note in payment for merchandise sale of $20,000. June 21 Received $100 cash (interest) on the old (May 22) note; the old note is renewed for 30 days at 7%. July 21 Received principal and interest on the new (June 21) note. 28 Received a 45-day, 7% note in payment for accounts receivable balance of $11,600. Sept. 11 Received $101.5 cash (interest) plus $1,200 principal on the old (July 28) note; the old note is renewed for 60 days (from September 11) at 7.5%. Nov. 10 Received principal and interest on the new (September 11) note.
Answer:
Journal Entries:
May 22 Debit 6% Note Receivable $20,000
Credit Sales Revenue $20,000
To record the receipt of a 30-day, 6% note in payment for merchandise.
June 21 Debit Cash $100
Credit Interest Revenue $100
To record a month's interest received on the note receivable.
Debit 7% Note Receivable $20,000
Credit 6% Note Receivable $20,000
To record the renewal of the 6% note with a 7% note for 30 days.
July 21 Debit Cash $20,116.67
Credit 7% Note Receivable $20,000
Credit Interest REvenue $116.67
To record the receipt of principal and interest on the new (June 21) note.
July 28 Debit 7% Note Receivable $11,600
Credit Accounts Receivable $11,600
To record the receipt of a 45-day, 7% note in payment for accounts receivable balance.
Sept. 11 Debit Cash $1,301.50
Credit Interest Revenue $101.5
Credit 7% Note Receivable $1,200
To record the receipt of cash for note and interest.
Debit 7.5% Note Receivable $10,400
Credit 7% Note Receivable $10,400
To record the renewal of the old note for 60 days at 7.5%.
Nov. 10 Debit Cash $10,530
Credit 7.5% Note Receivable $10,400
Credit Interest Revenue $130
To record full settlement of principal and interest on the note.
Explanation:
a) Data and Analysis:
May 22 6% Note Receivable $20,000 Sales Revenue $20,000.
June 21 Cash $100 Interest Revenue $100
7% Note Receivable $20,000 6% Note Receivable $20,000
July 21 Cash $20,116.67 7% Note Receivable $20,000 Interest REvenue $116.67
July 28 7% Note Receivable $11,600 Accounts Receivable $11,600
Sept. 11 Cash $1,301.50 Interest Revenue $101.5 7% Note Receivable $1,200
7.5% Note Receivable $10,400 7% Note Receivable $10,400
Nov. 10 Cash $10,530 7.5% Note Receivable $10,400 Interest Revenue $130
Baltimore, MD. The line started forming at 4 a.m. By 8 a.m. there were over 3,000 people in the line snaking around Amazon's fulfillment center. Despite 85-degree heat and equally high humidity, these people were willing to stand in line for hours, just for a chance to land a job at Amazon's local fulfillment center. By the end of the day, over 4,500 job-seekers had applied for the 1,200 jobs Amazon had posted, which pay wages of around $14 an hour. Amazon held similar job fairs in 11 other cities around the nation, promising to hire as many as 50,000 new employees. Source: News accounts of August 2-4, 2017.
a. What was the apparent market surplus at the Amazon job fair?
b. If Amazon increased wages to $16 per hour, what do you predict will happen to that market surplus?
Answer:
Here the quantity demanded, that is, vacancy = 1,200 While the total number of applications for these 1,200 positions was 4,500.
Explanation:
If Amazon increased wages to $16 per hour, what do you predict will happen to that.
Alyeska Services Company, a division of a major oil company, provides various services to the operators of the North Slope oil field in Alaska. Data concerning the most recent year appear below:
Sales $18,600,000
Net operating income $5,200,000
Average operating assets $35,200,000
Required:
1. Compute the margin for Alyeska Services Company.
2. Compute the turnover for Alyeska Services Company.
3. Compute the return on investment (ROI) for Alyeska Services Company.
Answer and Explanation:
The computation is shown below:
a. The margin is
= Net operating income ÷ Sales
= $5,200,000 ÷ $18,600,000
= 27.96%
b. The turnover is
= Sales ÷ average operating assets
= $18,600,000 ÷ $35,200,000
= 0.53 times
c. The return on investment is
= Net operating income ÷ average operating assets
= $5,200,000 ÷ $35,200,000
= 14.77%
Hence, the above formulas to be applied
explain the roles of directors of the company and the roles of auditors using the categories provided explain in three points exclude executed non-executive
Answer:
directors are the trustees of the company's money and property, and also act as agents in the transaction which they enter into on behalf of the company. Directors are liable as trustees for breach of trust, if they misapplied the funds or committed breach of byelaws of the company.
An auditor is an authorised personnel that reviews and verifies the accuracy of financial records and ensures that companies comply with tax norms. They primarily objective is to protect businesses from fraud, highlight any discrepancies in accounting methods, among other things.
Grassley Corporation allocates administrative costs on the basis of staff hours. Short-run monthly usage and anticipated long-run monthly usage of staff hours for Operating Departments 1 and 2 follow. Department 1 Department 2 Total Short-run usage (hours) 40,000 60,000 100,000 Long-run usage (hours) 45,000 55,000 100,000 If Grassley uses dual-cost accounting procedures and variable administrative costs total $200,000, the amount of variable administrative cost to allocate to Department 1 would be
Answer:
$80,000
Explanation:
Calculation to determine what the amount of variable administrative cost to allocate to Department 1 would be
Variable administrative cost to allocate to Department 1=(40,000 ÷100,000) x $200,000
Variable administrative cost to allocate to Department 1=0.4×$200,000
Variable administrative cost to allocate to Department 1= $80,000
Therefore The Variable administrative cost to allocate to Department 1 would be $80,000
Condensed financial data of Swifty Company for 2020 and 2019 are presented below. SWIFTY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019 Cash $1,770 $1,170 Receivables 1,780 1,300 Inventory 1,570 1,880 Plant assets 1,870 1,710 Accumulated depreciation (1,210 ) (1,190 ) Long-term investments (held-to-maturity) 1,290 1,430 $7,070 $6,300 Accounts payable $1,200 $900 Accrued liabilities 200 250 Bonds payable 1,430 1,580 Common stock 1,860 1,730 Retained earnings 2,380 1,840 $7,070 $6,300 SWIFTY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020 Sales revenue $6,820 Cost of goods sold 4,640 Gross margin 2,180 Selling and administrative expenses 910 Income from operations 1,270 Other revenues and gains Gain on sale of investments 80 Income before tax 1,350 Income tax expense 550 Net income 800 Cash dividends 260 Income retained in business $540 Additional information: During the year, $80 of common stock was issued in exchange for plant assets. No plant assets were sold in 2020. Prepare a statement of cash flows using the direct method.
Answer:
Swifty Company
Explanation:
a) Data and Calculations:
SWIFTY COMPANY COMPARATIVE BALANCE SHEET AS OF DECEMBER 31, 2020 AND 2019 2020 2019
Cash $1,770 $1,170
Receivables 1,780 1,300
Inventory 1,570 1,880
Plant assets 1,870 1,710
Accumulated depreciation (1,210 ) (1,190 )
Long-term investments
(held-to-maturity) 1,290 1,430
Total assets $7,070 $6,300
Accounts payable $1,200 $900
Accrued liabilities 200 250
Bonds payable 1,430 1,580
Common stock 1,860 1,730
Retained earnings 2,380 1,840
Total liabilities and equity $7,070 $6,300
SWIFTY COMPANY INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31, 2020
Sales revenue $6,820
Cost of goods sold 4,640
Gross margin 2,180
Selling and administrative expenses 910
Income from operations 1,270
Other revenues and gains
Gain on sale of investments 80
Income before tax 1,350
Income tax expense 550
Net income 800
Cash dividends 260
Income retained in business $540
Additional Information:
a) Issue of Common stock for plant assets = $80
Adjustments for cash transactions:
Receipts:
Customers = $1,300 + $6,820 - $1,780 = $6,340
Sale of investment = $1,430 - $1,290 = $140
Common stock = $1,860 - $1,730 - $80 = $50
Payments:
Suppliers = $900 + $4,330 - $1,200 = $4,030
Expenses = $250 + $910 - $200 = $960
Bonds = $1,580 - $1,430 = $150
Plant = $1,870 - $80 - $1,710 = $80
Purchases = $1,570 + 4,640 - $1,880 = $4,330
Statement of Cash Flows for the year ended December 31, 2020:
Cash flows from operating activities:
Receipt from customers $6,340
Payment to suppliers (4,030)
Payment for services (960)
Income tax expense (550)
Net cash from operating activities 800
Cash flows from investing activities:
Receipt from sale of investments $140
Purchase of plant assets (80)
Net cash from investing activities 60
Cash flows from financing activities:
Issue of Common stock $50
Payment to bondholders (150)
Payment to stockholders (260)
Net cash from financing activities (360)
Net cash flows $500
On August 1, Year 1, SuperCool Software (SCS) began developing a software program to allow individuals to customize their investment portfolios. Technological feasibility was established on January 31st of year 2, and the program was available for release on March 31, year 2. Development costs were incurred as follows:August 1 through December 31, Year 1 $ 4,000,000January 1 through January 31, Year 2 600,000February 1 through March 31, Year 2 900,000SCS expects a useful life of five years for the software and total revenues of $10,000,000 during that time. During Year 2, SCS recognized $2,000,000 in revenue, included in the $10,000,000 total revenue estimate.Calculate the required amortization for Year 2 (Hint: calculate using both methods, choose the greater number)
Answer:
$180,000
Explanation:
Calculation to determine the required amortization for Year 2
(1)Using Percentage-of-revenue method
Percentage-of-revenue method=($2,000,000/$10,000,000)*$900,000
Percentage-of-revenue method= 20% *$900,000
Percentage-of-revenue method= $180,000
(2) Using Straight-line method
Straight-line method=$900,000 × 1/5 × 9/12
Straight-line method= $135,000
Therefore based on the above calculation the required amortization for Year 2 will be $180,000 using The percentage-of-revenue method reason been that the method help to produces higher amortization of the amount of $180,000.
Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off her total. How much loan does Molly need?
Answer: $3000
Explanation:
Based on the information given, the amount of loan that Milly needs will be the addition of the down payment and the cash allowance and this will be:
= Down payment + Cash allowance
= $2500 + $500
= $3000
Molly needs a loan of $3000
Answer:
Molly needs a $1,000 loan.
Morgana Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated annual overhead cost for each activity is $205,900, $265,100, and $78,400, respectively. The cost driver for each activity and the estimated annual usage are number of setups 2,900, machine hours 24,100, and number of inspections 1,600. Compute the overhead rate for each activity.
Answer:
Overhead cost per set-up =$71
Overhead cost per machine hour =$11
Overhead cost per inspection=$49
Explanation:
Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers. Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.
Activity rate is calculated as:
Activity cost for the period / Total cost drivers for the period
So, we can apply this formula as follows:
Overhead cost per set-up = $205,900/2,900 set-ups=$71
Overhead cost per machine hour = $265,100/24,100 hours=$11
Overhead cost per inspection = $78,400/1,600 inspection=$49
An ad for Tums antacid shows a guest at a restaurant asking for Tums to alleviate his heartburn. The waitress brings him a bowl that is filled with packets of Maalox, Rolaids, Tums and other antacids. The waitress says that all antacids are the same. The guest then explains to her that Tums is different because it is the only antacid brand that has calcium. Tums is using: Group of answer choices one-sided advertising two-sided advertising comparative advertising verbal appeals visual appeals'
Answer:
comparative advertising
Explanation:
Comparative advertising is a marketing strategy where the product or service of the company would be represented as a superior good as compared to the competitor. It compared the features of the company to the competitor
Since in the given situation, it is mentioned that the guest explains to her than tums should be different as it the antacid brand that contains only calcium
So, the above represent the answer
Which of the following is a gauge used to measure distance traveled?
Answer:
please give me brainlist and follow
Explanation:
An odometer or odograph is an instrument used for measuring the distance traveled by a vehicle, such as a bicycle or car. The device may be electronic, mechanical, or a combination of the two (electromechanical).
The following information is available for the year ended December 31: Beginning raw materials inventory$12,000 Raw materials purchases 88,000 Ending raw materials inventory 11,400 Manufacturing supplies expense 800 The amount of raw materials used in production for the year is: Multiple Choice $88,600. $76,600. $89,400. $87,400.
Answer:
Direct material used= $88,600
Explanation:
Giving the following information:
Beginning raw materials inventory$12,000
Raw materials purchase 88,000
Ending raw materials inventory 11,400
To calculate the direct material used in production, we need to use the following formula:
Direct material used= beginning inventory + purchases - ending inventory
Direct material used= 12,000 + 88,000 - 11,400
Direct material used= $88,600
Match the following functions with their descriptions.
A. It allows companies to organize and share information
B. It provides instantaneous tracking by containing identifying information
C. It provides complete visibility of product location Provides access to global markets, suppliers and distribution channels
D. It enables exchange of documents in a standard
Answer:
A. ERP
B. RFID
C. Barcodes
D. E-business
E. EDI
Explanation:
Here is the complete question :
Match the following functions with their descriptions.
(E-Business, EDI, Bar Codes, ERP, RFID)
A. It allows companies to organize and share information
B. It provides instantaneous tracking by containing identifying information
C. It provides complete visibility of product location
D. Provides access to global markets, suppliers and distribution channels
E. It enables exchange of documents in a standard format
Enterprise resource planning (ERP) is a software used to organise a business core processes
Electronic Data Interchange (EDI) is used to exchange business documents in a standardised format electronically
Types of EDI
Direct EDI EDI via value added networks (VANs)Web EDI Mobile EDIAdvantages of EDI
It increases business efficiency It reduces operating costsDisadvantages of EDI
Initial setup cost is usually quite highRadio-frequency identification (RFID) is used to identify and track tags that are attached to items
Barcodes are used as a means of identification of a product. They can identify the country a product is manufactured.
Electronic business (E-business) has accelerated the rate of global integration. It has increased the access to global markets, suppliers and distribution channels.
To be included in property, plant, and equipment, an asset must have all of the following except Group of answer choices a. the asset must be held for use. b. the asset must have an expected life of a normal operating cycle. c. the asset must be tangible in nature. d. the asset must have an expected life of more than one year. g
Answer:
b. the asset must have an expected life of a normal operating cycle.
Explanation:
A current asset can be defined as all of the assets that are being owned by a company or business entity and are expected to be converted into their cash equivalent through sales or use within a period of one year of its date on the organization's balance sheet.
Hence, to be included in property, plant, and equipment, an asset must have all of the following;
I. The asset is expected or required to be held for use
II. It must be tangible in nature.
III. It is required to have an expected life of that is typically above a year.
Which type of bonds are written by a municipality with you give me to repay the amount of the bond plus interest on a particular maturity date
A) government
B) preferred
C)mutual
The Correct Answer: government
Peter wishes to create a retirement fund from which he can draw when he retires and the same amount at each anniversary of his retirement for years. He plans to retire years from now. What investment need he make today if he can get a return of per year, compounded annually
Answer:
$65,742.60
Explanation:
Note: The full question is "Peter wishes to create a retirement fund from which he can draw $20,000 when he retires and the same amount at each anniversary of his retirement for 10 years. He plans to retire 20 years from now. What investment need he make today if he can get a return of 5% per year, com- pounded annually?"
At first, we need to find the PV of withdrawals and there are 11 withdrawals starting 20 years from now.
PV = PMT/r * 1 - 1/(1+r)^n. This formula gives the PV one period before the first withdrawal. That is 19 years from now because the first withdrawal is 20 years from now.
PMT = 20,000, n = 11,
r = 0.05
PV19 = 20,000/0.05 * [1 - 1/(1+0.05)^11]
PV19 = 400,000 * 0.4153207109
PV19 = 166,128.28436
Now, we need to discount this back to toda
PV0 = PV19/(1 + r)^n; n = 19, r = 0.05
PV0 = 166,128.28436/(1 + 0.05)^1
PV0 = $65,742.6033421702
PV0 = $65,742.60
So, Peter needs to make $65,742.60 today.
The following labor standards have been established for a particular product: Standard labor hours per unit of output 4.5 hours Standard labor rate $ 17.60 per hour The following data pertain to operations concerning the product for the last month: Actual hours worked 6,100 hours Actual total labor cost $ 107,970 Actual output 1,300 units Required: a. What is the labor rate variance for the month
Answer:
4400 Unfavorable
Explanation:
Calculation to determine the labor rate variance for the month
First step is to calculate the Standard hours using this formula
Standard hours = Standard labor-hours per unit of output*Actual output
Let plug in the formula
Standard hours= 4.5*1,300 units
Standard hours= 5850
Now let calculate the Direct labor efficiency variance using this formula
Direct labor efficiency variance = (Standard hours - Actual hours)*Standard rate
Let plug in the formula
Direct labor efficiency variance= (5,850-6,100)*17.60
Direct labor efficiency variance= 4400 Unfavorable
Therefore the labor rate variance for the month is 4400 Unfavorable
SCHMIDT MACHINERY COMPANY
Standard Cost Sheet
Product: XV-1
Descriptions Quantity Cost Rate Subtotal Total
Direct materials
Aluminum 4 pounds $25/pound $100
PVC 1 pound 40/pound 40
Direct labor 5 hours 40/hour 200
Variable factory overhead 5 hours 12/hour 60
Total variable manufacturing cost $400
Fixed factory overhead 5 hours 24/hour 120 120
Standard manufacturing cost per unit $520
Standard variable selling and administrative cost per unit I pound 50
* Budgeted fixed factory overhead cost = $120,000
Assume that Schmidt Machinery Company had the standard costs reflected in Exhibit 14.5. In a given month, the company used 3,470 pounds of aluminum to manufacture 935 units. The company paid $28.90 per pound during the month to purchase aluminum. At the beginning of the month, the company had 54 pounds of aluminum on hand. At the end of the month, the company had only 34 pounds of aluminum in its warehouse. Schmidt used 4,400 direct labor hours during the month, at an average cost of $41.90 per hour.
Required:
Compute for the month the following variances:
1. The purchase-price variance for aluminum. Indicate whether this variance is favorable (F) or unfavorable (U).
2. The usage variance for aluminum. Indicate whether this variance is favorable (F) or unfavorable (U).
3. The direct labor rate variance. Indicate whether this variance is favorable (F) or unfavorable (U).
4. The direct labor efficiency variance. Indicate whether this variance is favorable (F) or unfavorable (U).
Answer:
See below
Explanation:
1. Purchase price variance
Standard price per pound = $25
Actual price per pound = $28.9
Quantity of aluminium purchased = Closing inventory + Quantity used - Opening inventory
= 34 + 3,470 - 54
= 3,450 pounds
Purchase price variance = (Standard price - Actual price) × Quantity purchased
= ($25 - $28.9) × 3,450
= -$3.9 × 3,450
= $13,455 (U)
2. Usage variance
Standard quantity of Aluminium for actual production
= 935 units × 4 pounds each
= 3,740 pounds
Usage variance = (Standard quantity of material used - Actual quantity used) × Standard price per unit
= (3,740 - 3,470) × $25
= 270 × $25
= $6,750 (F)
3. Direct labor rate variance
= (Standard rate per hour - Actual rate per hour)
× Actual hours for production
= ($40 - $41.9) × 4,400
= -$1.9 × 4,400
= $8,360 (U)
4. Efficiency variance
Standard hours for actual production
= 935 units × 5 per hour
=4,675 hours
Labor efficiency variance = (Standard hours for actual production - Actual hours for actual production) × Standard rate per hour
= (4,675 - 4,400) × $40
= 275 × $40
= $11,000 (F)
In risk management what does risk control include
What can students do to “get smarter” refer to 5 characteristics of Grit