If the company were to further process the T-bone steaks, then cutting one side of a T-bone steak provides the filet mignon and cutting the other side provides the New York cut. One 16-ounce T-bone steak cut in this way will yield one 6-ounce filet mignon and one 8-ounce New York cut; the remaining ounces are waste. It costs $0.11 to further process one T-bone steak into the filet mignon and New York cuts. The filet mignon can be sold for $4.00 per pound, and the New York cut can be sold for $3.80 per pound. Required: 1. What is the financial advantage (disadvantage) of further processing one T-bone steak into filet mignon and New York cut steaks
Answers
Answer:
Following are the responses to the given choices:
Explanation:
Please find the complete question in the attached file.
Sales from more processing per 16-ounce T-bone:
The cost of a single fillet mignon:
[tex]\to(6\times \frac{\$ 12.00}{16})=\$4.50[/tex]
The sales price for one New York cut:
[tex]\to ( 8 \times \frac{\$ 8.80}{16})=\$4.40[/tex]
total revenue from any further production 8.90
One T-bone steak generates less revenue 7.95
incremental revenue through additional processing 0.95
lower cost of further production 0.55
The financial benefit of additional processing $0.40
Related Questions
You manage an equity fund with an expected risk premium of 10% and an expected standard deviation of 15%. The rate on Treasury bills (risk-free rate) is 5%. Your client chooses to invest $60,000 of her portfolio in your equity fund and $40,000 in a T-bill money market fund.
Required:
What is the expected return and standard deviation of return on your client's portfolio?
Answers
Answer:
Portfolio expected return = 8%
Portfolio SD = 9%
Explanation:
Portfolio return is a function of the weighted average return of each stock or asset invested in the portfolio. The mean return on portfolio can be calculated using the following formula,
Portfolio return = wA * rA + wB * rB + wN * rN
Where,
w represents the weight of each stock or asset in the portfolior represents the return of each stock or asset in the portfolioTotal investment in portfolio = 60000 + 40000 = 100000
Portfolio return = 60000/100000 * 10% + 40000/100000 * 5%
Portfolio return = 8%
The standard deviation of a portfolio containing one risky and one risk-free asset is calculated by multiplying the standard deviation of the risky asset by its weight in the portfolio. So, portfolio standard deviation will be,
Portfolio SD = 60000/100000 * 15%
Portfolio SD = 9%
Marin Corp. factors $441,000 of accounts receivable with Headland Finance Corporation on a without recourse basis on July 1, 2020. The receivables records are transferred to Headland Finance, which will receive the collections. Headland Finance assesses a finance charge of 1.80% of the amount of accounts receivable and retains an amount equal to 6% of accounts receivable to cover sales discounts, returns, and allowances. The transaction is to be recorded as a sale.
Required:
Prepare the journal entry on July 1, 2020, for Marin Corp. to record the sale of receivables without recourse.
Answers
Answer:
Debit Cash for $406,602; Debit Finance charge for $7,938; Debit Loss on sale of receivables for 26,460; and Credit Accounts receivable for $441,000.
Explanation:
Before preparing the journal entry, the following calculations are made firs:
Finance charge = Percentage of finance charge * Accounts receivable = 1.80% * $441,000 = $7,938
Loss on sale of receivables = Percentage retained * Accounts receivable = 6% * $441,000 = $26,460
Cash = Accounts receivable - Finance charge - Loss on sale of receivables = $441,000 - $7,938 - $26,460 = $406,602
The journal entry will now look as follows:
Date Details Debit ($) Credit ($)
01 Jul '20 Cash 406,602
Finance charge 7,938
Loss on sale of receivables 26,460
Accounts receivable 441,000
(To record factoring of accounts receivable.)
The adjusted trial balance for Martell Bowling Alley at December 31, 2017, contains the following accounts:
Debit Credit
Buildings $128,800 Common stock $90,000
Accounts receivable 14,520 Retained earnings 25,000
Prepaid insurance 4,680 Accumulated depreciation - buildings 42,600
Cash 18,040 Accounts payable 12,300
Equipment 62,400 Notes payable 97,780
Land 67,000 Accumulated depreciation - equipment 18,720
Insurance expense 780 Interest payable 2,600
Depreciation expense 7,360 Service revenue 17,180
Interest expense 2,600
$306,180 $306,180
1. Prepare a classified balance sheet; assume that $22,000 of the note payable will be paid in 2018.
2. By how much does current assets exceed current liabilities?
3. What percentage of current assets are in the form of cash?
4. Determine the company's liquidity.
Answers
Answer:
Martell Bowling Alley
Martell Bowling Alley
Balance Sheet
As of December 31, 2017
Assets
Current assets:
Cash $18,040
Accounts receivable 14,520
Prepaid insurance 4,680 $37,240
Equipment 62,400
Accumulated depreciation 18,720 $43,680
Buildings 128,800
Accumulated depreciation 42,600 86,200
Land 67,000 196,880
Total Assets $234,120
Liabilities and Equity
Current liabilities:
Accounts payable 12,300
Interest payable 2,600
Notes payable (short-term) 22,000 $36,900
Notes payable (long-term) 75,780
Total liabilities $112,680
Common stock 90,000
Retained earnings 31,440 $121,440
Total liabilities and equity $234,120
2. The current assets exceed the current liabilities by $340.
3. The percentage of current assets in cash is 48.44%.
4. The company's liquidity = 48.89%
Explanation:
a) Data and Calculations:
Adjusted Trial Balance
As of December 31, 2017
Debit Credit
Cash 18,040
Accounts receivable 14,520
Prepaid insurance 4,680
Equipment 62,400
Accumulated depreciation - equipment $18,720
Buildings 128,800
Accumulated depreciation - buildings 42,600
Land 67,000
Accounts payable 12,300
Interest payable 2,600
Notes payable 97,780
Common stock 90,000
Retained earnings 25,000
Service revenue 17,180
Insurance expense 780
Depreciation expense 7,360
Interest expense 2,600
$306,180 $306,180
Notes payable $ 97,780
Short-term notes payable $22,000
Long-term notes payable $75,780 (97,780 - 22,000)
Service revenue $17,180
Insurance expense 780
Depreciation expense 7,360
Interest expense 2,600 10,740
Net income $6,440
Retained earnings, beginning $25,000
Net income 6,440
Retained earnings, ending $31,440
2. Current assets = $37,240
Current liabilities = 36,900
Working capital = $340
Cash = $18,040
Current assets = $37,240
Percentage of cash in current assets = $18,040/$37,240 * 100 = 48.44%
Liquidity = Cash/Current liabilities = $18,040/$36,900 * 100 = 48.89%
The salary of the president of the United States in 2000 was $400,000. In 1940, the president's salary was $75,000. If the Consumer Price Index was 8.1 in 1940 and 100 in 2000, the 1940 presidential salary measured in terms of the purchasing power of the dollar in 2000 would be: a. less than $75,000. b. less than $400,000. c. approximately $668,850. d. approximately $926,000.
Answers
Answer:
D. Approximately $926,000
Explanation:
To compute the purchasing power of president of the united state's salary in 1940, we will divide 100 by 8.1
= 100/8.1
= 12.3457
The next step is to multiply the above result by $75,000
= 12.3457 × $75,000
= $925,925.93
The above means that in real dollars adjusted to inflation, the president in 1940 earned more than twice the president in 2000
Therefore, 1940 presidential salary measured in yes of purchasing power of the dollar in 2000 would be approximately $926,000
Sheridan Company makes and sells widgets. The company is in the process of preparing its selling and administrative expense budget for the month. The following budget data are available: Item Variable Cost Per Unit Sold Monthly Fixed Cost Sales commissions $1 $10000 Shipping $3 Advertising $4 Executive salaries $120000 Depreciation on office equipment $4000 Other $2 $6000 Expenses are paid in the month incurred. If the company has budgeted to sell 94000 widgets in October, how much is the total budgeted selling and administrative expenses for October
Answers
Answer:
$1,080,000
Explanation:
Calculation to determine how much is the total budgeted selling and administrative expenses for October
October Total budgeted selling and administrative expenses=
[($1 + $3 + $4 + $2) x 94,000] + ($10,000 +
$120,000 + $4,000 + $6,000)
October Total budgeted selling and administrative expenses=(10*94,000)+$140,000
October Total budgeted selling and administrative expenses=$940,000+$140,000
October Total budgeted selling and administrative expenses=$1,080,000
Therefore the total budgeted selling and administrative expenses for October is $1,080,000
Cortez Foods Inc. is a company that manufactures packaged food. It sells several varieties of packaged food such as chips, cupcakes, candies, crackers, fruit juices, and carbonated drinks. It receives its largest profit from its newly introduced line of tropical fruit juices that are available in different flavors, such as orange, apple, lychee, and cranberry. Recently, Cortez has been exploring mixing flavors and has created a new lychee and cranberry juice drink. This is an example of a _______. a. product modification b. repositioning c. product mix d. product line
Answers
Answer:
a. product modification
Explanation:
A product life cycle can be defined as the stages or phases that a particular product passes through, from the period it was introduced into the market to the period when it is eventually removed from the market.
Generally, there are four (4) stages in the product-life cycle;
1. Introduction.
2. Growth.
3. Maturity.
4. Decline.
In this scenario, Cortez has been exploring mixing flavors and has created a new lychee and cranberry juice drink. Thus, this is an example of a product modification because there's an improvement upon the old method.
A-Z Technologies, a manufacturer of amplified pressure transducers, is trying to decide between a dual-speed and a variable-speed machine. The engineers are not sure about the salvage value of the variable-speed machine, so they have asked several different used-equipment dealers for estimates. The results can be summarized as follows: there is a 35% chance of getting $21,500; a 41% chance of getting $22,000; and a 13% chance of getting $36,000. Also, there is an 11% chance that the company may have to pay $7,000 to dispose of the equipment. Calculate the expected salvage value.
Answers
Answer:
Expected salvage value = $20455
Explanation:
The expected salvage value of the machine can be calculated by multiplying the expected salvage values by their relative probabilities and then summing up the resulting values. The following formula can be used,
Expected salvage value = pA * svA + pB * svB + ... + pN * svN
Where,
p represents the probability of each scenariosv represents the salvage value under each scenarioA, B, ... , N represents scenario A, B, ... , till Nth number of scenarioExpected salvage value = 0.35 * 21500 + 0.41 * 22000 + 0.13 * 36000 +
0.11 * -7000
Expected salvage value = $20455
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.
Answers
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
A bookkeeper prepared the year-end financial statements of Giftwrap, Inc. The income statement showed net income of $22,300, and the balance sheet showed ending retained earnings of $90,500. The firm's accountant reviewed the bookkeeper's work and determined that adjustments should be made that would increase revenues by $5,900 and increase expenses by $8,800.
Required:
Calculate the amounts of net income and retained earnings after the preceding adjustments are recorded.
Answers
Answer:
• Net income $19,400
• Retained earnings $87,600
Explanation:
With regards to the above,
Net income before adjustments
$22,300
Add: Increase in revenue
$5,900
Less: Increase in expenses
($8,800)
Net income after adjustment
$19,400
Retained earnings before adjustment
$90,500
Less: Decrease in net income ($22,300 - $19,400)
($2,900)
Retained earnings after adjustment
$87,600
GIVING 50 POINTS AND BRAINLIEST
PLS HURRY
Answers
Answer:
i aint downloading the document sounds fishy
it sounds fishy sorry- lol
Answer:
yeah sounds fishy but thanks anyways
Explanation:
sorryyy
On January 1, 2017, Fisher Corporation purchased 40 percent (74,000 shares) of the common stock of Bowden, Inc. for $980,000 in cash and began to use the equity method for the investment. The price paid represented a $66,000 payment in excess of the book value of Fisher's share of Bowden's underlying net assets. Fisher was willing to make this extra payment because of a recently developed patent held by Bowden with a 15-year remaining life. All other assets were considered appropriately valued on Bowden's books.
-Bowden declares and pays a $94,000 cash dividend to its stockholders each year on September 15. Bowden reported net income of $408,000 in 2017 and $356,000 in 2018. Each income figure was earned evenly throughout its respective year.
-On July 1, 2018, Fisher sold 10 percent (19,500 shares) of Bowden's outstanding shares for $328,000 in cash. Although it sold this interest, Fisher maintained the ability to significantly influence Bowden's decision-making process.
Required:
Prepare the journal entries for Fisher for the years of 2017 and 2018.
Answers
Answer:
Investment in Bowden Inc. (Dr.) $980,000
Cash (Cr.) $980,000
Dividend receivable 94,000 * 40% (Dr.) $37,600
Investment in Bowden (Cr.) $37,600
Cash (Dr.) $37,600
Dividend Receivable (Cr.) $37,600
Investment in Bowden 408,000 *40% (Dr.) $163,200
Income From Bowden (Cr.) $163,200
Investment in Bowden 365,000 * 6/12 * 40% (Dr.) $71,200
Income from Bowden (Cr.) $71,200
Investment in Bowden 365,000 * 6/12 * 10% (Dr.) $17,800
Income from Bowden (Cr.) $17,800
Cash (Dr.) 328,000
Gain on Investment (Cr.) $69,756
Investment in Bowden (Cr.) $258,243
Explanation:
Gain on investment in Bowden :
Investment value $980,000
Total number of shares 74,000
Per share value 980,000 / 74,000 = 13.24
Sold 19,500 shares
Value of shares sold : 19,500 shares * 13.24 per share = $258,243
Sale price for shares = $328,000
Gain on Sale of investment = $69,756
If an IPO is underpriced then the: a. Issue is less likely to sell out. b. Issuing firm is guaranteed to be successful in the long term. c. Investors in the IPO are generally unhappy with the underwriters. d. Issuing firm receives less money than it should have. e. Stock price will generally decline on the first day of trading.
Answers
Answer:
D)Issuing firm receives less money than it should have
Explanation:
An initial public offering known as (IPO) can be regarded as process involving offering of shares that belong to private corporation to the public withing new stock issuance. With the help of Public share issuance can raise capital from public investors. It should be noted that If an IPO is underpriced then the Issuing firm receives less money than it should have
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?
Answers
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
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
Answers
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.
The balance sheets for Plasma Screens Corporation and additional information are provided below. PLASMA SCREENS CORPORATION Balance Sheets December 31, 2021 and 2020 2021 2020 Assets Current assets: Cash $ 158,800 $ 123,000 Accounts receivable 84,000 95,000 Inventory 98,000 83,000 Investments 4,300 2,300 Long-term assets: Land 510,000 510,000 Equipment 820,000 700,000 Less: Accumulated depreciation (458,000 ) (298,000 ) Total assets $ 1,217,100 $ 1,215,300 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 102,000 $ 88,000 Interest payable 7,500 12,300 Income tax payable 9,500 5,300 Long-term liabilities: Notes payable 100,000 200,000 Stockholders' equity: Common stock 730,000 730,000 Retained earnings 268,100 179,700 Total liabilities and stockholders' equity $ 1,217,100 $ 1,215,300 Additional information for 2021: Net income is $88,400. Sales on account are $1,628,900. Cost of goods sold is $1,230,800. Required: 1. Calculate the following risk ratios for 2021: (Round your answers to 1 decimal place.)
Answers
Answer:
Missing word: "a. Receivables turnover ratio b. Inventory turnover ratio c. Current ratio d. Acid-test ratio d. Debt-equity ratio"
a. Receivable turover ratio = Net credit sales/ Average receivbles
= $1,628,900/ (($84000+$95000)/2)
= $1,628,900 / $89,500
= 18.2 Times
b) Inventory Turnover ratio = Cost of goods sold / Average inventory
= $1,230,800/ (($98,000+$83,000)/2)
= $1,230,800/$90,500
= 13.6 Times
c) Current ratio = Current assets / Current liabilities
= ($158,000+$84,000+$98,000+$4,300) / ($102,000+$7,500+$9,500
= $344,300/$119,000
= 2.893277311
= 2.89 to 1
d) Acid test ratio = ( Current assets - Inventory ) / Current liabilities
= ($344,300 - $98,000) / $119,000
= $246,300 / $119,000
= 2.0697478992
= 2.07
e) Debt-equity ratio = Total Liability (Current + Non-current) / Stockholders' equity
= ($119,000+$100,000) / ($730,000+$268,100)
= $219,000 / $998,100
= 0.2194169
= 22%
A Kubota tractor acquired on January 8 at a cost of $315,000 has an estimated useful life of 10 years. Assuming that it will have no residual value. a. Determine the depreciation for each of the first two years by the straight-line method. First Year Second Year $fill in the blank 1 31,500 $fill in the blank 2 31,500 b. Determine the depreciation for each of the first two years by the double-declining-balance method. Do not round the double-declining balance rate. If required, round your final answers to the nearest dollar.
Answers
Answer:
A. Year 2 $31,500
Year 2 $31,500
B. Year 1 = 63,000
Book Value of Tractor $252,000
Year 2 $ 50,400
Book Value of Tractor $201,600
Explanation:
a. Calculation to Determine the depreciation for each of the first two years by the straight-line method
Year 1 = $315,000 / 10
Year 1 = $31,500
Year 2 = $315,000 / 10
Year 2= $31,500
B) Calculation to determine the depreciation for each of the first two years by the double-declining-balance method
Based on the information given we are first going to calculate the percentage of depreciation using straight line method and then double it
Percentage = $ 315,000 *10%
Percentage=$31,500
Now let depreciation the book value each year by 20% Using the double-declining-balance method method
Year 1=20% of $ 315,000
Year 1= 63,000
Book Value=$315,000 - $63,000
Book Value= $ 252,000
Year 2= 20% of 252,000
Year 2 = $ 50,400
Book Value=$ 252,000 -$50,400
Book Value= $201,600
5.For the past year, Chandler Company had fixed costs of $70,000, unit variable costs of $32, and a unit selling price of $40. For the coming year, no changes are expected in revenues and costs, except that property taxes are expected to increase by $10,000. Determine the break-even sales (units) for: (12 pts ~ 6 pts each) a.The past year: b.The coming year
Answers
Answer:
a.
Break even in units = 8750 units
b.
Break even in units = 10000 units
Explanation:
The break even in units is the number of units that a business must sell in order to for its total revenue to be equal to total costs and for it to break even. The break even in units is calculated as follows,
Break even in units = Fixed Costs / Contribution margin per unit
Where,
Contribution margin per unit = Selling price per unit - Variable cost per unit
a. Past Year
Break even in units = 70000 / (40 - 32)
Break even in units = 8750 units
b. Coming Year
The property taxes which are a fixed cost will increase by $10000. Thus total fixed cost for coming year will be = 10000 + 70000 = 80000
Break even in units = 80000 / (40 - 32)
Break even in units = 10000 units
, suppose the book value of the debt issue is $70 million. In addition, the company has a second debt issue on the market, a zero coupon bond with 12 years left to maturity; the book value of this issue is $100 million and the bonds sell for 61 percent of par. What is the company’s total book value of debt? The total market value? What is your best estimate of the aftertax cost of debt now? (Assume that semi-annual compounding is used for the zero-coupon bond.)
Answers
Answer: See explanation
Explanation:
a. The company's total book value of debt will be:
= Value of debt + Value of zero coupon bonds
= $70 million + $100 million
= $170 million
b. The market value will be:
= Quoted price × Par value
= ($70 × 1.08) + ($100 × 0.61)
= $75.6 + $61
= $136.6 million
c. The aftertax cost of debt will be:
= (1 - Tax rate) × Pre tax cost of debt
= (1 - 35%) × 5.7%
= 65% × 5.7%
= 3.7%
Which situation(s) would be considered unethical design practices?
Select all that apply.
copying a design idea
making false claims about a product
designing a political campaign
using your own photographs
Answers
Answer:
I think A
Explanation:
copying a design idea
If prices go up, what happens to demand?
Answers
Answer:
Demands lower
Explanation:
When pricing goes up (depending on the product but generally) demands go down waiting for a better price, but marketers have certain ways to stop that from occurring, such as promoting, or pricing products higher when products are thriving.
The night manager of Willis Transportation Service, who had no accounting background, prepared the following balance sheet for the company at February 28, 2015. The dollar amounts were taken directly from the company s accounting records and are correct. However, the balance sheet contains a number of errors in its headings, format, and the classification of assets, liabilities, and owners equity. Prepare a corrected balance sheet. Include a proper heading.
Answers
Question Completion:
WILLIS TRANSPORT SERVICE
MANAGER'S REPORT
8PM THURSDAY
Assets Owners' Equity
Capital stock $110,400 Accounts Receivable $84,000
Retained earnings 74,400 Notes Payable 345,600
Cash 94,800 Supplies 16,800
Building 96,000 Land 84,000
Automobiles 198,000 Accounts Payable 43,200
Total $573,600 Total $573,600
Answer:
Willis Transportation Service
WILLIS TRANSPORTATION SERVICE
Balance Sheet
As of February 28, 2015
Assets
Current Assets:
Cash $94,800
Accounts Receivable 84,000
Supplies 16,800 $195,600
Automobiles 198,000
Building 96,000
Land 84,000 $378,000
Total assets $573,600
Liabilities and Equity:
Current Liabilities:
Accounts Payable $43,200
Long-term Liabilities:
Notes Payable $345,600
Total liabilities $388,800
Owners' Equity:
Common stock $110,400
Retained earnings 74,400 $184,800
Total liabilities and equity $573,600
Explanation:
a) Data and Analysis:
Assets:
Cash 94,800
Accounts Receivable 84,000
Supplies 16,800
Automobiles 198,000
Building 96,000
Land 84,000
Liabilities and Owners' Equity:
Accounts Payable 43,200
Notes Payable 345,600
Common stock 110,400
Retained earnings 74,400
b) Willis' balance sheet shows the company's assets and the sources through which the assets are financed. These sources are either liabilities (debts) or owners' equity (common stock or retained earnings). The balance sheet summarizes the financial position of Willis Transportation Service at a point in time.
Testbank Multiple Choice Question 88 Concord Corporation, has 14300 shares of 4%, $100 par value, cumulative preferred stock and 59400 shares of $1 par value common stock outstanding at December 31, 2021. There were no dividends declared in 2019. The board of directors declares and pays a $116000 dividend in 2020 and in 2021. What is the amount of dividends received by the common stockholders in 2021
Answers
Answer:
$60,400
Explanation:
Calculation to determine the amount of dividends received by the common stockholders in 2021
2021 Dividend received =($116,000*2)-[(14,300 × $100 × .04)×3]
2021 Dividend received =$232,000-($57,200×3)
2021 Dividend received =$232,000-$171,600
2021 Dividend received =$60,400
Note that 2020 and 2021 will give us 2 years; 2019,2020and 2021 will give us 3 years
Therefore the amount of dividends received by the common stockholders in 2021 will be $60,400
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. (
Answers
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.
what challenges do managers face in motivating today's workforce?
Answers
Answer:
Each individual employee has their own set of beliefs and needs, and you can rarely find two of them who are alike. Therefore, managers have a hard time understanding how different their employees are. Also, it's hard to keep up with all the employee needs if they are constantly changing and evolving.
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are manager and leader are born or made ? why ? help guys
Answers
Answer:
Leaders are made
Explanation:
That's why we have an education system, to give people the training and knowledge they need to pursue their passions.
Certainly, people can be born with traits that can give them advantages in a leadership profession but ultimately, leaders are made.
Blakely charges manufacturing overhead to products by using a predetermined application rate, computed on the basis of machine hours. The following data pertain 23 to the current year:
Budgeted manufacturing overhead: $600,000
Actual manufacturing overhead: $560,000
Budgeted machine hours: 25,000
Actual machine hours: 20,000
Overhead applied to production totaled:_____________.
a. $448,000
b. $480,000.
c. $700,000.
d. $750,000
e. some other amount
Answers
Answer:
b. $480,000
Explanation:
With regards to the above information, first we need to calculate the manufacturing overhead rate.
Manufacturing overhead rate = Total estimated manufacturing overhead / Total amount of allocation base
Manufacturing overhead rate = $600,000 / 25,000 = $24
Therefore, allocated manufacturing overhead
= Overhead rate × Actual hours
= $24 × 20,000
= $480,000
The Armstrong Corporation developed a flexible budget for its production process. Armstrong budgeted to use 12,000 pounds of direct material with a standard cost of $14 per pound to produce 14,000 units of finished product. Armstrong actually purchased 24,000 pounds and used 15,000 pounds of direct material with a cost of $30 per pound to produce 14,000 units of finished product. Given these results, what is Armstrong's direct material pricevariance?
a. $234,000 unfavorable
b. $156,000 unfavorable
c. $234,000 favorable
d. $156,000 favorable
Answers
Answer:
A. $234,000 unfavorable
Explanation:
Calculation to determine Armstrong's direct material price variance
Using this formula
Direct material price variance=[(Standard cost-Actual cost)*Actual quantity]
Let plug in the formula
Direct material price variance=[($11-$24)*18,000)
Direct material price variance=$13*18,000
Direct material price variance=$234,000 Unfavorable
Therefore Armstrong's direct material price variance is $234,000 Unfavorable
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
Answers
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?
Answers
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
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.
Answers
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