Answer:
Unitary contribution margin= $40
Explanation:
Giving the following information:
Selling price per unit $120.00
Variable cost per unit $80.00
The contribution margin per unit is calculated using the following formula:
Unitary contribution margin= selling price - unitary variable cost
Unitary contribution margin= 120 - 80
Unitary contribution margin= $40
Marketing managers must choose between the various forms of advertising media available as they develop their communication plans.
a. True
b. False
Answer:
true
Explanation:
Logan and Johnathan exchange land, and the exchange qualifies as like kind under § 1031. Because Logan's land (adjusted basis of $130,500) is worth $156,600 and Johnathan's land has a fair market value of $123,975, Johnathan also gives Logan cash of $32,625. a. Logan's recognized gain is $fill in the blank 1. b. Assume that Johnathan's land is worth $140,940 and he gives Logan $15,660 cash. Logan's recognized gain is ________
Answer:
A. $26,100
B. $15,660
Explanation:
Calculation to determine Logan recognized gain
A. Based on the information given in a situation where Johnathan's land is worth the amount of $123,975, Logan's recognized gain will be the amount of $26,100 which is the lesser of the amount realized as gain ($156,600 realized amount − $130,500 adjusted basis = $26,100) or the fairmarket value of the boot received amount of ($32,625)
Therefore Logan recognized gain will be $26,100
B. Based on the information given Ina situation were Johnathan's land is worth the amount of $140,940, Logan's recognized gain will be the amount of $15,660, the lesser of th amount realized as gain ($156,600 realized amount − $130,500 adjusted basis = $26,100) or the fairmarket value of the boot received of the amount of ($15,660).
Therefore Logan recognized gain will be $15,660
The stage of Bruce Tuckman’s group decision-making process in which the members express their individual needs and opinions is ________.
The needs of the individual and the opinion should be mandatory.
What is the stage of Bruce Tuckman’s group?In the year 1965, Bruce Tuckman is psychologist mentioned that the team should go via five stages of development i.e. forming, norming, storming, performing, and adjourning. The stages begin from the time when the group should be first meeting till the end of the project.
hence, The needs of the individual and the opinion should be mandatory.
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What does bolding do to text?
Answer:
Explanation:
Usually you select the word or sentence you want to bold using your cursor, to make the word lines thicker and have the words stand out more. Most websites have the bold function denoted with a B so you can easily understand that the button is used for making a word or sentences bold. It's used in newspapers to highlight sections or to emphasize words or the beginning of paragraphs.
Proco had an account payable of $6,400 due to Shirmoo Inc., one of its suppliers. The amount was due to be paid on January 31. Proco did not have enough cash on hand then to pay the amount due, so Proco's treasurer called Shirmoo's treasurer and agreed to sign a note payable for the amount due. The note was dated February 1, had an interest rate of 12% per annum, and was payable with interest on May 31.
Required:
Use the horizontal model to show the effects (+ for additional and for substraction) of each of these transactions and adjustments for Proco on the following:
A. February 1, to show that the account payable had been changed to a note payable.
B. March 31, to accrue interest expense for February and March.
C. May 31, to record payment of the note and all of the interest due to Shirmoo.
Answer:
assets = liabilities + equity
a) NA - $6,400 AP
+ $6,400 NP
net effect $0
b) NA + $128 interest - $128 retained
payable earnings
c) -$6,528 cash -$6,400 NP NA
-$128 interest p.
revenue - expenses = income
a) NA NA NA
b) $0 $128 -$128
c) NA NA NA
The average price of a gallon of gas in 2015 dropped $0.94 (28 percent) from $3.34 in 2014 (to $2.40 in 2015). Let’s see whether these changes are reflected in the income statement of Insignia Corporation for the year ended December 31, 2015 (amounts in billions).
2015 2014
Revenues $225 $242
Cost of Purchased Crude Oil and Products 119 127
Other Operating Costs 59 52
Income before Income Tax Expense 47 63
Required:
a. Compute the gross profit percentage for each year. Assuming that the change from 2014 to 2015 is the beginning of a sustained trend, is Insignia likely to earn more or less gross profit from each dollar of sales in 2016?
b. Compute the net profit margin for each year.
Answer:
Note: See missing wordings in attached picture below
a. 2015
Gross profit percentage = [Total revenue - Cost of crude oil and products] / Total revenue
Gross profit percentage = [$225 - $119] / $225
Gross profit percentage = $106 / $225
Gross profit percentage = 0.47111111
Gross profit percentage = 47.11%
2014
Gross profit percentage = [Total revenue - Cost of crude oil and products] / Total revenue
Gross profit percentage = [$242 - $127] / $242
Gross profit percentage = $115 / $242
Gross profit percentage = 0.475206612
Gross profit percentage = 47.52%
Conclusion: Insignia Corporation are likely to earn less gross profit from each dollar of sales in 2016 because Gross profit percentage decreased from 2014 to 2015.
b. 2015
Net profit margin = Net income / Total revenue
Net profit margin = $26/$225
Net profit margin = 0.1155555
Net profit margin = 11.56%
2014
Net profit margin = Net income / Total revenue
Net profit margin = $37/$242
Net profit margin = 0.152893
Net profit margin = 15.29%
Ulta Inc. allows each employee to earn 15 paid vacation days each year with full pay. Unused vacation time can be carried over to the next year. If not taken during the next year, unused vacation time is lost. By the end of 2020, all but 3 of the 30 employees had taken their earned vacation time. The three employees carried over to 2021 a total of 20 vacation days, which represented 2020 salary of $7,800. During 2021, all of these three used their 2020 vacation carryover; none of them had received a pay rate change from 2020 until the time they used their carryover. Total cash wages paid: 2020, $910,000; 2021, $962,000. There was no carryover of vacation time earned in 2021.
Required:
a. Provide the entry for Ulta Inc. to accrue compensated absences on December 31, 2020, and for the payment of vacation days in 2021.
b. Compute the total amount of salaries expense for 2020 and 2021. How would the vacation time carried over from 2020 affect the December 31, 2020 balance sheet?
Answer:
Ulta Inc.
a. Journal Entry on December 31, 2020:
Debit Compensated Absences $7,800
Credit Compensated Absences Payable $7,800
To accrue compensated absences.
Journal Entries on December 31, 2021:
Debit Compensated Absences $7,800
Debit Wages Expense $954,200
Credit Cash $962,000
To record the payment of vacation days and wages in 2021.
b. Total Amount of Salaries:
2020 = $917,800 ($910,000 + $7,800)
2020 = $954,200 ($962,000 - $7,800)
The vacation time carried over from 2020 will cause a liability of $7,800 in the December 31, 2020 balance sheet.
Explanation:
a) Data and Calculations:
Unpaid vacation days in 2020 = $7,800
Total cash wages paid:
2020, $910,000
2021, $962,000
Snow White Frame Company's cost formula for its supplies cost is $1,740 per month plus $8 per frame. For the month of March, the company planned for activity of 614 frames, but the actual level of activity was 620 frames. The actual supplies cost for the month was $6,850. The activity variance for supplies cost in March would be closest to:
Answer:
$48 U
Explanation:
Calculation to determine what The activity variance for supplies cost in March would be closest to:
First step is to calculate the Planning supply activity cost
Planning supply activity cost = (614 × $8) +$1,740
Planning supply activity cost = 4,912+$1740
Planning supply activity cost = $6652
Second step is to calculate the Actual supply activity cost
Actual supply activity cost = (620 × $8) + $1,740
Actual supply activity cost =4960+$1,740
Actual supply activity cost =$6,700
Now let calculate the Activity variance for supplies cost using this formula
Activity variance for supplies cost = Actual activity cost – Planning activity cost
Let plug in the formula
Activity variance for supplies cost= $6,700 - $6,652
Activity variance for supplies cost= $48 Unfavorable
Therefore The activity variance for supplies cost in March would be closest to:$48 U
g Ming Company has 500,000 shares of $10 par value common stock outstanding. During the year Ming declared a 10% stock dividend when the market price of the stock was $30 per share. Two months later Ming declared a $2.00 per share cash dividend. As a result of the dividends declared during the year, retained earnings decreased by: Note that you have two types of dividends that you have to take into consideration. Group of answer choices
Answer:
$2,600,000
Explanation:
total shares of ming company = 500000
the dividend = 10%
10% * 500000 = 50000
stock dividend amount = 50000 share x 30 dolarrs
= 1500000
outstanding shares aftrr dividend = 500000+(500000*10%)
= 500000 + 50000 = 550,000
cash dividend = $2 per share
= 550000 * 2
= 1100000
decrease in retained earning = stock dividend + cash dividend
= 1500000 + 1100000
= $2,600,000
a. Was Apple wrong for not complying with the FBI’s request?
b. If so, why? If not, why not?
c. What ethical issues are involved in this case?
d. Who are the stakeholders in this situation?
e. Is the company’s decision consistent with its values? Is that important?
Clifford Johnson has a limited partnership investment and a rental condominium. Clifford actively manages the rental condominium. During 2018, his share of the loss from the limited partnership was $11,000, and his loss from the rental condo was $17,000. Assume Clifford's modified adjusted gross income is $122,000 for 2018, he has no prior year unallowed losses from either activity, and he and his wife will file a joint return.
Complete Form 8582.
Answer:
Hello attached below is the Handwritten form ( completed )
Explanation:
loss from limited partnership = $11,000
loss from rental condo = $17000
Clifford's modified adjusted gross income = $122,000
attached below is the filled form
Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantity Unit Cost Unit Replacement Cost Unit Selling Price A 1,000 $ 14 $ 16 $ 20 B 800 19 15 22 C 700 7 6 12 D 600 11 8 10 E 800 18 16 17 The cost to sell for each product consists of a 15 percent sales commission. The normal profit for each product is 35 percent of the selling price. Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or market (LCM) rule is applied to individual products. 2. Determine the carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory. 3. Assuming inventory write-downs are common for Forester, record any necessary year-end adjusting entry based on the amount calculated in requirement 2.
Answer:
Forester Company
1. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to individual products, is:
= $47,800
2. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory, is:
= $49,800
3. Assuming inventory write-downs are common for Forester, the necessary year-end adjusting entry based on requirement 2 is:
Debit Cost of goods sold (Inventory write-down) $5,200
Credit Inventory $5,200
To write down the inventory value from $55,000 (purchase costs) to $49,800 (replacement costs).
Explanation:
a) Data and Calculations:
Product Quantity Unit Cost Unit Replace- Unit Selling LCM Value
ment Cost Price
A 1,000 $ 14 $ 16 $ 20 $14,000 ($14*1,000)
B 800 19 15 22 12,000 ($12*800)
C 700 7 6 12 4,200 ($6*700)
D 600 11 8 10 4,800 ($8*600)
E 800 18 16 17 12,800 ($16*800)
Total 3,900 $47,800
Total costs = (1,000*$14 + 800*$19 + 700*$7 + 600*$11 + 800*$18)
= ($14,000 + 15,200 + 4,900 + 6,600 + 14,400)
= $55,000
Tota replacement costs = (1,000*$16 + 800*$15 + 700*$6 + 600*$8 + 800*$16)
= ($16,000 + 12,000 + 4,200 + 4,800 + 12,800)
= $49,800
Total market value = (1,000*$20 + 800*$22 + 700*$12 + 600*$10 + 800*$17)
= ($20,000 + 17,600 + 8,400 + 6,000 + 13,600)
= $65,600
Total cost = $55,000
Total replacement cost = $49,800
Inventory write-down = $5,200
How can social media help employers during the hiring process ? Check all that apply
Social Media often provides a place for employers to begin their search, social media can fill in gaps on resumes or provide additional details, some sites can be a platform for recruiters to promote job openings.
Explanation: just got it right e2020
Employers frequently start their search on social media; it can complete information gaps on resumes or provide new information, and some sites can be used as a platform by recruiters to advertise job openings.
What is media?The term media, which is the word form of medium, refers to the human activity channels through which we disseminate news, music, movies, education, promotional messages, and other data This can include anything from black and white paper to digital data and includes art, news, educational content and numerous other forms of information.
Social media sites can be used to advertise job openings, find prospects, and confirm applicant backgrounds. Promote your employer brand. Sharing media about corporate values and employee events can assist build an employer brand to draw potential employees and clients.
Social media platforms provide human resources hiring departments with significantly more candidate information than they would have otherwise had at their fingertips. Employers have typically been restricted to the data that candidates include on their paper resumes.
Therefore, Thus option (B) is correct.
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Jamal is a web designer working on an e-commerce website for a client. He is looking for information regarding the buying habits of 50- to 60-year-old males who have no children. What sources are considered reliable?
Select all that apply.
published marketing survey
government data
blogs
Wikipedia
Maria, a citizen and resident of Mexico, received the following investment income during 2018: $1,000 of dividend income from ownership of stock in a U.S. corporation, $2,000 interest from a bond issued by a U.S. corporation, $3,000 of rental income from property located in the United States, and $500 capital gain from sale of a stock in a U.S. corporation. How much of Maria’s income will be subject to U.S. taxation in 2018?
Answer: $6,000
Explanation:
Maria is a citizen and resident of Mexico so the only way the U.S. can tax Maria is by taxing income that is in U.S. jurisdiction before it comes to Maria.
This will include the dividend from ownership of stock in a U.S. Corporation, the interest from a U.S. company issued bond and rental income from a property located in the U.S.
The U.S. will be unable to tax the capital gain from sale of stock however because the sale might not be conducted in the U.S.
Income subject to U.S. taxation is therefore:
= 1,000 + 2,000 + 3,000
= $6,000
Jerry Rawls is the purchasing manager for the headquarters of a large insurance company chain with a central inventory operation at COBA Inc. His data in millions are as follows: Given that their Inventory Turnover is 50 times per year, their Accounts Receivable Turnover is 7 times per year and their Accounts Payable Turnover is 3 times per year, what is their Cash-to-Cash Conversion Cycle
Answer: 0.785 days
Explanation:
Cash conversion cycle = Days inventory outstanding + Days sales outstanding – Days payable outstanding
Days inventory outstanding = 365/inventory turnover
= 365 / 50
= 7.3 days
Days sales outstanding = 365 / 8
= 45.625 days
Days payable outstanding = 365 / 7
= 52.14 days
Cash conversion cycle = 7.3 + 45.625 - 52.14
= 0.785 days
On January 1, 2016, Telespace Inc. grants 6 million non-qualified stock options to its employees. The stock options have exercise price of $20, which is equal to the grant-date price. All options will vest in three years. The grant date fair value of the options is $15 per option. All 6 million options are expected to vest. On January 1, 2019, all 6 million vested options are exercised when the stock price is $50. The applicable tax rate for all periods is 40%. The company has sufficient taxable income for the stock option tax deductions to reduce income taxes payable in all periods.
How much compensation expense should Telespace recognize for the year of 2016?
Answer:
$30,000,000
Explanation:
compensation expense = total number of stocks granted x grant date value = 6,000,000 x $15 = $90,000,000
this expense will be allocated proportionally during the vesting period = $90,000,000 / 3 years = $30,000,000 per year
compensation expense per year (2016, 2017, 2018) = $30,000,000
Employment law is the large body of laws, administrative rulings, and precedents that encompass all areas of the employer/employee relationship.
a. True
b. False
Answer:
a. True
Explanation:
A law can be defined as the system of principles, regulations and rules established by legislature, that is adopted in a community, society or country to regulate the actions of its citizens, members or employees.
The law is a tool used by lawyers, individuals, organizations, and even government to ensure everybody is well behaved, non-criminal and civil in their actions. Therefore, a law creates the foundation for ethical behavior.
In circumstances where there are aberration, the law is enforced as a punishment and penalty.
Employment law is the large body of laws, administrative rulings, and precedents that encompass all areas of the employer/employee relationship. It is a body of principles and rules that are put in place to regulate and ensure there's a good working relationship between the employees and their employers while being fair to both sides.
A government imposes a per-unit tax on light bulbs in a competitive market. Afterward, the seller's after-tax price increases from the original equilibrium price of $12 to $14. The marginal cost of lightbulbs was $9 before the tax and $12 after the tax was implemented. The quantity supplied decreases from a before-tax quantity of twelve thousand bulbs per month to ten thousand bulbs per month after the tax. Based on this, which of the following is true?
A. Total expenditures on light bulbs increase after the tax.
B. The amount of deadweight loss is $20,000 after the tax.
C. Total revenue earned by light bulb producers increases after the tax.
D. The total tax revenue collected by the government is $30,000 per month.
E. Consumers and producers are sharing an equal percentage of the tax burden.
Answer:
A. Total expenditure on light bulb increases after the tax.
Explanation:
The government has imposed tax on the light bulb production and the new price after the tax is $14. The price before the tax was $12 and the marginal cost before tax was $9. There was a profit of $3 for the producers of the light bulb. The tax burden is shifted to the consumers of the bulb since the marginal price after tax is $12. Total expense for the production of bulb has increased due to tax.
Looking for cost savings in administrative areas, the vice-president for human resources at McMahon Corporation asked his assistant to collect data on the employee cafeterias in the four McMahon locations around the country. After two days, the assistant returned with the following data for the previous year. Mobile Pecos Spokane Lansing Labor-hours 35,000 55,000 22,500 5,250 Meals served 114,000 216,000 74,000 13,500 Required: a. Compute the partial productivity measures for labor for the four locations. (
Answer:
McMahon Corporation
Partial productivity measures for labor for the four locations:
Mobile Pecos Spokane Lansing
Labor productivity 3.26 3.93 3.29 2.48
(meals per labor
hour)
Explanation:
a) Data and Calculations:
Mobile Pecos Spokane Lansing Total
Meals served 114,000 216,000 74,000 13,500 417,500
Labor-hours 35,000 55,000 22,500 5,250 117,750
Labor productivity 3.26 3.93 3.29 2.48 3.55
b) Labor productivity is computed as total output divided by labor-hours (labor input). It is the manpower or workforce productivity. It is one of the productivity measures with capital as the other measure.
n March 2021, the Phillips Tool Company signed two purchase commitments. The first commitment requires Phillips to purchase inventory for $103,000 by June 15, 2021. The second commitment requires the company to purchase inventory for $153,000 by August 20, 2021. The company's fiscal year-end is June 30. Phillips uses a periodic inventory system. The first commitment is exercised on June 15, 2021, when the market price of the inventory purchased was $86,500. The second commitment was exercised on August 20, 2021, when the market price of the inventory purchased was $121,500. Required: Prepare the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments. Assume that the market price of the inventory related to the outs
Answer:
1.June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
Dr Estimated liability on purchase commitment $11,800
Cr Cash $153,000
Explanation:
Preparation of the journal entries required on June 15, June 30, and August 20, 2021, to account for the two purchase commitments
1. June 15, 2021
Dr Purchases $86,500
Dr Loss on purchase commitment $16,500
($103,000-$86,500)
Cr Cash $103,000
2. June 30, 2021
Dr Estimated loss on purchase commitment $11,800
Cr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
3. August 20, 2021
Dr Purchases $121,500
Dr Loss on purchase commitment $19,700
($141,200-$121,500)
Dr Estimated liability on purchase commitment $11,800
($153,000-$141,200)
Cr Cash $153,000
Gladstone Pavers has a long-term debt ratio of 0.6 and a current ratio of 1.6. Current liabilities are $700, sales are $4,440, the profit margin is 9.5 percent, and the return on equity is 19.5 percent. How much does the firm have in net fixed assets? $4,880.18 $4,987.69 $5,666.67 $5,848.15 $6,107.70
Answer:
$4,987.69
Explanation:
Calculation to determine How much does the firm have in net fixed assets
First step is to calculate the Current assets
Current assets = 1.6 × $700
Current assets= $1,120
Second step is to calculate the Net income
Net income = .095 × $4,440
Net income= $421.80
Third step is to calculate the Total equity
Total equity = $421.80/.195
Total equity= $2,163.0769
Fourth step is to calculate Long-term debt
0.6 = Long term debt/(Long-term debt + $2,163.0769)
Long-term debt = $3,244.6153
Fifth step is to calculate the Total debt
Total debt = $700 + $3,244.6153
Total debt= $3,944.6153
Sixth step is to calculate Total assets
Total assets = $3,944.6153 + $2,163.0769
Total assets= $6,107.6922
Now let calculate the Net fixed assets
Net fixed assets = $6,107.6922 - $1,120
Net fixed assets = $4,987.69
Therefore How much does the firm have in net fixed assets is $4,987.69
You receive a credit card application from Shady Banks Savings and Loan offering an introductory rate of .4 percent per year, compounded monthly for the first six months, increasing thereafter to 16.1 percent compounded monthly. Assume you transfer the $5,100 balance from your existing credit card and make no subsequent payments. How much interest will you owe at the end of the first year
Answer:
$435.63
Explanation:
Calculation to determine How much interest will you owe at the end of the first year
First step is to calculate the Face Value of a lump sum, After the first six months
FV = $5,100 [1 + (.004 / 12)]^6
FV = $5,110.21
Second step is to calculate The Face Value of a lump sum in another six months
FV = $5,110.21[1 + (.161 / 12)]^6
FV = $5,535.63
Now let calculate the Interest
Interest = $5,535.63 − $5,100
Interest = $435.63
Therefore How much interest will you owe at the end of the first year is $435.63
Indicate what components of GDP (if any) each of the following transactions would affect. Check all that apply.
Transaction Consumption Investment Government Purchases Net Exports The federal government sends your grandmother a Social Security check.
You pay a domestic plumber for fixing a leak in your bathroom.
You buy a new Toshiba computer.
California hires workers to repave Highway 101.
Uncle Paul pays a domestic contractor for renovating his home.
Ford manufactures a Focus and adds it to its inventory.
Uncle John orders 10 new computers for his finance business.
Dell sells a desktop computer from its inventory to the Johnson family.
Answer:
not included
consumption
consumption
government spending
consumption
business spending
business spending
consumption and inventory (consumption increases and business inventory reduces)
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
When exports exceed import there is a trade deficit and when import exceeds import, there is a trade surplus.
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
6. transfer payments
Construct a contingency table from the following data where the two rows represent
whether the person was a democrat (D) or a republican (R) and the two columns
represent whether the person said that they intended to vote for Clinton (C) or
Trump (T).
Political
DRDDRDRRRDRRRDDRDRDR
Party
Candidate TCCTCTTCTCTT CCTCTTC
How many intend to vote for Clinton (C)?
(Round your answer to three decimal places.)
Your Answer:
9
Answer
Next Page
Page 20 of 20
Answer:
Clinton (C) Trump (T) Total
Democrat (D) 5 4 9
Republican (R) 4 7 11
Total 9 11 20
From the Contingency table above, we can see that 9 people intend to vote for Clinton.
Inventory records for Marvin Company revealed the following:
Date Transaction Number of Units Unit Cost
Mar. 1 Beginning Inventory 1,000 $7.20
Mar. 10 Purchase 600 7.25
Mar. 16 Purchase 800 7.30
Mar. 23 Purchase 600 7.35
Marvin sold 2,300 units of inventory during the month. Cost of goods sold assuming weighted-average cost would be:___.
a. $16.800.
b. $16.760.
c. $16.540.
d. $16.660.
Answer:
COGS= $16,732.5
Explanation:
Giving the following information:
Mar. 1 Beginning Inventory 1,000 $7.20
Mar. 10 Purchase 600 7.25
Mar. 16 Purchase 800 7.30
Mar. 23 Purchase 600 7.35
Marvin sold 2,300 units of inventory during the month.
First, we need to calculate the weighted average price per unit:
Weighted-average cost per unit= (7.2 + 7.25 + 7.3 + 7.35) / 4
Weighted-average cost per unit= $7.275
Now, the cost of goods sold:
COGS= 7.275*2,300
COGS= $16,732.5
Kennedy Company reports the following costs and expenses in May.
Factory utilities $16,500
Depreciation on factory equipment 12,650
Depreciation on delivery trucks 3,800
Indirect factory labor 48,900
Indirect materials 70,800
Direct materials used 157,600
Factory manager's salary 8,000
Direct labor 79,100
Sales salaries 48,400
Property taxes on factory building 2,500
Repairs to office equipment 1,300
Factory repairs 2,000
Advertising 23,000
Office supplies used 4,640
Required:
a. Determine the total amount of manufacturing overhead.
b. Determine the total amount of product costs.
c. Determine the total amount of period costs.
Answer:
a. $161,350
b. $398,050
c. $81,140
Explanation:
Total amount of manufacturing overhead
Factory utilities $16,500
Depreciation on factory equipment $12,650
Indirect factory labor $48,900
Indirect materials $70,800
Factory manager's salary $8,000
Property taxes on factory building $2,500
Factory repairs $2,000
Total $161,350
Note : Manufacturing Overheads are Indirect Manufacturing Costs that can not be easily traced to the Product being manufactured.
The total amount of product costs
Direct materials used $157,600
Direct labor $79,100
Manufacturing Overhead $161,350
Total $398,050
Note : Product Costs are Direct Manufacturing Costs that can be easily traced to the Product being manufactured.
The total amount of period costs
Depreciation on delivery trucks $3,800
Sales salaries $48,400
Repairs to office equipment $1,300
Advertising $23,000
Office supplies used $4,640
Total $81,140
Note : All Non Manufacturing Costs are Period Cost. Period Costs are expensed in the Income Statement.
According to the video, what qualities are needed by Merchandise Displayers and Window Trimmers? Check all that
apply
O creativity
O leadership
O marketing skills
ability to work under pressure
O research skills
O ability to speak clearly
Answer:
he/she is correct
Explanation:
i can verify
The qualities needed by Merchandise Displayers and Window Trimmers are creativity, marketing skills, and the ability to work under pressure.
Retail merchandise displays are set up for maximum impact by merchandise displayers and window trimmers, who also need the ability to multitask under time constraints.
The purpose of merchandise displays is to draw in and entice customers by giving a special presentation of a store's merchandise. To achieve this requirement, they must have strong marketing abilities that enable them to interact with clients successfully.
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Paul Parrino purchased from Daves Professional Wheelchair Service a wheelchair manufactured by 21st Century Scientific, Inc. The sales brochure from 21st Century Scientific stated that the wheelchair woulds erve [the buyer] well for many years tocome. Parrino had problems with the wheelchair within a few years and filed suit against Daves and 21st Century for breach of express warranty. Both defended on the grounds that the statement on years of service was puffery, not an express warranty. Are they right?
Answer:
In this case, 21st Century would probably win the lawsuit since its brochure never stated a specific amount of time, for example, 3, 5, or 10 years. So it cannot be considered an express warranty. Besides, the fact that the wheelchair actually lasted a few years (doesn't specify how many), it is more than consumer protection laws generally require.
what are other information that should be included in the deposit and withdrawal forms?
Answer:
account number needed , name of bank, withdrawing needs pin e.t.c