Seeing a movie at a theatre would be considered a(n)
want.
O unlimited
O economic
noneconomic
limited

Answers

Answer 1

Answer:

economic

Explanation:

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Related Questions

Which of these is referred to as the invisible network of interpersonal relationships that shape how people actually connect with one another to carry out their activities?

a.
Organizational development

b.
Organizational change

c.
Informal organization

d.
Organizational design

e.
Level of organization

Answers


Answer B but don’t take my word

The informal organization is sometimes referred to as the invisible network of interpersonal relationships that shape how people actually connect with one another to carry out their activities.

C. Informal organization

What is formal and informal organization?

A formal organization is a group of people who have a formal relationship, set written policies and rules and a common goal. On the other hand, an informal organization is an organization that is formed when a group of people interact, develops connection and form an entity via mutual interactions.

What is divisional organization structure?

Divisional organization structure in which various departments are created on the basis of products, territory or region, is called a divisional structure. Each unit has a divisional manager, who is responsible for performance and has authority over their division.

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Hyperinflations ultimately are the result of excessive growth rates of the money supply; the underlying motive for the excessive money growth rates is frequently a government's: A. desire to increase prices throughout the economy. B. inability to conduct open-market operations. C. need to generate revenue to pay for spending. D. responsibility to increase nominal interest rates by increasing expected inflation.

Answers

Answer:

C. need to generate revenue to pay for spending.

Explanation:

Inflation can be defined as the persistent rise in the price of goods and services in an economy.

Generally, inflation usually causes the value of money to fall and as a result, it imposes more cost on an economy.

Furthermore, when this persistent rise in the price of goods and services in an economy becomes rapid, excessive, unbearable and out of control over a period of time, it is generally referred to as hyperinflation

Hence, hyperinflations ultimately are the result of excessive growth rates of the money supply; the underlying motive for the excessive money growth rates is frequently a government's need to generate (tax) revenue to pay for spending.

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

The term, obsolescence, as it relates to the useful life of an asset, refers to: Multiple Choice The halfway point of an asset’s useful life. A plant asset that is becoming outdated and no longer used. The inability of a company’s plant assets to function as designed. An asset's salvage value becoming less than its replacement cost. Intangible assets that have been fully amortized.

Answers

Answer:

A plant asset that is becoming outdated and no longer used.

Explanation:

Obsolescence can be regarded as situation whereby plant Asset is old and not been useful to produce goods/ services. It should be noted that obsolescence, as it relates to the useful life of an asset, refers to A plant asset that is becoming outdated and no longer used

You want to create incentives for your management team to improve safety. Group of answer choices You should avoid bonuses that are tied to overall measures of safety. You should give bonuses if errors reported in individual units go down. You should tie bonuses to aspects of safety that you can easily measure. None of the above

Answers

Answer:

To improve safety:

You should tie bonuses to aspects of safety that you can easily measure.

Explanation:

Bonuses improve safety performance.  Are all aspects of safety performance measurable?  Yes.  It has been established that safety performance can be measured in two main ways by measuring the lag (output or outcome) and lead (input or before-incident) indicators.    The Occupational Safety and Health Administration (OSHA) allows employers to institute rate-based programs to reward employees with bonuses.  These programs should not be an attempt to discourage the employees from reporting safety issues.

Roberta is the supervisor of a fund-raising project. She notices that her team members are not able to meet the targets and they have deviated from the planned schedule. To understand the situation and the challenges that the team members are facing, Roberta wants to reach out to all the team members and establish an open communication culture. To convey her message clearly, the most appropriate way for Roberta would be to:

Answers

Answer: organize a face-to-face discussion with the team.

Explanation:

For Roberta to convey her message clearly, the most appropriate way will be for her to organize a face-to-face discussion with the team.

Since she wants to establish an open communication culture, having a face to face discussion is essential. In this case, the team shares their ideas and are more engaged. The team then understands what is required of them and works towards achieving company goals.

You have purchased a put option on Pfizer common stock. The option has an exercise price of $53 and Pfizer’s stock currently trades at $55. The option premium is $0.80 per contract. a. What is your net profit on the option if Pfizer’s stock price does not change over the life of the option? b. What is your net profit on the option if Pfizer’s stock price falls to $50 and you exercise the option?

Answers

Answer:

A. -0.80

B. 2.20

Explanation:

A. Calculation for your net profit on the option if Pfizer’s stock price does not change over the life of the option

Net profit per share=max(53-55,0)-0.80

Net profit per share=0-0.80

Net profit per share=-0.80

Therefore your net profit on the option if Pfizer’s stock price does not change over the life of the option is -0.80

b. Calculation for your net profit on the option if Pfizer’s stock price falls to $50 and you exercise the option

Net profit per share

=max(53-50,0)-0.80

Net profit per share=3-0.80

Net profit per share=2.20

Therefore your net profit on the option if Pfizer’s stock price falls to $50 and you exercise the option is 2.20

he newspaper reported last week that Bennington Enterprises earned $34.03 million this year. The report also stated that the firm’s return on equity is 12 percent. The firm retains 80 percent of its earnings. What is the firm's earnings growth rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) What will next year's earnings be? (Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.)

Answers

Answer:

(A) 9.6%

(B) 37,296,880

Explanation:

Current earnings for Bennington Enterprise is $34.03 million

The ROE is 12 percent

= 12/100

= 0.12

Retention ratio is 80 percent

= 80/100

= 0.8

(A) The firms earning growth rate can be calculated as follows

= 0.8× 0.12

= 0.096×100

= 9.6%

(B) Next year earnings can be calculated as follows

= 34,030,000 × (1+0.096)

= 34,030,000× 1.096

= 37,296,880

Scenario: Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy. The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. Freeland's efforts to provide opportunities to its emerging industries is an example of its ________.

Answers

Answer:

Economic motive.

Explanation:

An economic motive can be defined as the tendency of an investor or government to advocate and choose economic models, resources and factors of production that would positively and significantly impacts its economy.

In this scenario, Not-So-Free Freeland Freeland is a semi-closed economy whose government believes in protecting national identity and building a self-sustained economy. The government's priority is to protect local jobs and provide opportunities to Freeland's emerging industries to flourish without the threat of external competition. Freeland's efforts to provide opportunities to its emerging industries is an example of its economic motive because it would ensure that the jobs within the country is protected while creating opportunities for the company.

CDF Inc. is contemplating the acquisition of Pogo Company. The values of the two companies as separate entities are $20 million and $10 million, respectively. CDF estimates that by combining the two companies, it will reduce marketing and administrative costs by $500,000 per year in perpetuity. CDF can either pay $14 million cash for Pogo or offer Pogo a 55% holding in CDF. If the opportunity cost of capital is 10%,a. What is the gain from merger? b. What is the cost of the cash offer? c. What is the cost of the sock alternative? d. What is the NPV of the acquisition under the cash offer? e. What is the NPV under the stock offer?

Answers

Answer: See explanation

Explanation:

a. What is the gain from merger?

This will be calculated by dividing the cost savings by the opportunity cost of capital. This will be:

= $500,000 / 10%

= $500,000 / 0.1

= $5,000,000

= $5 million

b. What is the cost of the cash offer?

This will be the difference between the cash cash paid and the value of the firm acquired which will be:

= $14 million - $10 million

= $4 million

c. What is the cost of the sock alternative?

First, we calculate the value of the merged company which will be:

= $20 million + $10 million + $5 million

= $35 million

Then, cost of stock alternative will be:

= (35 million x 55%) – $10 million

= ($35 million × 0.55) - $10 million

= $19.25 million - $10 million

= $9.25 million

d. What is the NPV of the acquisition under the cash offer?

This will be:

= $5 million - $4 million

= $1 million

e. What is the NPV under the stock offer?

This will be:

= $5 million - $9.25 million

= -$4.25 million

Kingston Company, which needs 10,000 units of a certain part to be used in its production cycle, can make or buy the part. If Kingston buys the part from Utica Company, Kingston could not use the released facilities in another manufacturing activity within the coming year. 60% of the fixed overhead applied will continue regardless of which decision option is chosen. The following per-unit cost information to make the part by Kingston is available: Direct materials $ 37 Direct labor 148 Variable overhead 74 Fixed overhead applied 93 $ 352 Cost to buy the part from Utica Company $ 85 In deciding whether to make or buy the part, Kingston's total relevant cost to make the part would be:

Answers

Answer: $‭2,962,000‬

Explanation:

60% of the fixed overhead cannot be avoided which means that only 40% can be avoided. This is the amount to include in the analysis.

To make 10,000 units, the cost would be:

= Direct materials + Direct labor + Variable Overhead + Fixed overhead applied

= (10,000 * 37) + ( 10,000 * 148) + (10,000 * 74) + (10,000 * 93 * 40%)

= 370,000 + 1,480,000 + 740,000 + 372,000

= $‭2,962,000‬

In an ethical dilemma such as the one presented above
Multiple Choice
there are two choices, neither of which resolves the situation in an ethically acceptable manner
there are two choices, either of which resolves the situation in an ethically acceptable manner
there are two choices, one of which resolves the situation in an ethically acceptable manner
there is only one choice
there are no choices

Answers

Answer:

there are two choices, neither of which resolves the situation in an ethically acceptable manner

Explanation:

Given that Ethical dilemma is a philosophical term that describes circumstances whereby an individual is having two available decisions for him to pick one. However, none of them supersede the other in terms of ethical requirements.

Therefore, in this case, the correct answer is "there are two choices, neither of which resolves the situation in an ethically acceptable manner."

Analyze Johnson Stores’ staffing budget for holidaysJohnson Stores is planning its staffing for the upcoming holiday season. From past history, the store determines that it needs one additional sales clerk for each $12,000 in daily sales. The average daily sales is anticipated to increase by $96,000 from Black Friday until Christmas Eve, or 27 shopping days. Each additional sales clerk will work an eight-hour shift and will be paid $14 per hour.a. Determine the amount to budget for additional sales clerks for the holiday season.Holiday staff budget for additional clerks $b. If Johnson Stores has an average 40% gross profit on sales. What is the additional profit generated if a staff is added for the increased sale?Additional profit $

Answers

Answer:

Johnson Stores

Staffing Budget for Holidays:

a. The amount to budget for additional sales clerks for the holiday season is:

= $24,192.

b. The additional profit generated if a staff is added for the increased sale is:

= $1,209.60.

Explanation:

a) Data and Analysis:

Number of sales clerk required for each $12,000 in daily sales = 1

Average sales increase = $96,000

Number of sales clerk required for the $96,000 sales increase = 8 ($96,000/$12,000)

Number of shopping days from Black Friday to Christmas Eve = 27

Sales clerk works a shift per day = 8 hours

Wages per hour = $14

Total hours to be worked by the additional sales clerk = 8 * 27 * 8 = 1,728

Total wages = 1,728 * $14 = $24,192

Average gross profit on sales = 40%

Total gross profit on sales = $24,192 * 40% = $9,676.80

Additional gross profit generated by adding a staff = $1,209.60 ($9,676.80/8)

According to Investment Digest, the arithmetic mean of the anual return for common stocks over an 85-year period was 9.5%, but the value of the variance was not mentioned. We do know that 20% of the annual returns were below 8%. Assume that this distribution is nomal. 70% of the annual returns will be higher than what value?

Answers

Answer:

no

Explanation:

On January 2, 2020, Fran acquires a business from Chuck. Among the assets purchased are the following intangibles: patent with a 7-year remaining life, a covenant not to compete for 10 years, and goodwill. Of the purchase price, $140,000 was paid for the patent and $60,000 for the covenant. The amount of the excess of the purchase price over the identifiable assets was $100,000. What is the amount of the amortization de

Answers

Answer:

Total amortization deduction is $20,000

Explanation:

The computation of the amortization deduction is shown below:

Patent     $140,000  15   $9,333

Covenant $60,000  15   $4,000

Goodwill $100,000  15   $6,667

Total amortization deduction is $20,000

We simply divded the purchase price of each asset with the life i.e. 15 years

In the production of a wooden chair within the circular flow model, what would the resource market include?
A
furtniture company
B
office supply company
forest
D
wooden chairs

Answers

Answer:

forest/trees

Explanation:

Which of the following is the type of notice provided by recording?
Select one:
a reasonable
b. constructive
c. protective d. actual

Answers

Answer:

b

Explanation:

calculation of opportunity cost​

Answers

Explanation:

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what is capital? in your own words. economics.​

Answers

Answer:

In finance and accounting, capital generally refers to financial wealth, especially that used to start or maintain a business. ... In classical economics, capital is one of the four factors of production. The others are land, labor and organization

g 2. Two individuals, Susan and Bill, are involved in a bitter dispute over splitting a small prize of £1000. The prize donator, who acts as an independent arbitrator, rules that if an agreement cannot be reached between the two individuals within two months then they will each receive one third of the prize with the remainder going to charity. They are allowed two chances to settle: Susan can make an offer to Bill immediately which he can either accept or reject. If Bill rejects this offer, he can make an alternative offer to Susan one month from now. Bill is more impatient than Susan and so their monthly discount factors are different, δS for Susan and δB for Bill (0 < δB < δS < 1). (i) Determine the minimum offer Susan can propose now that Bill will certainly accept. 1 (ii) If δS = 9/10 for what range of discount values δB would result in Bill agreeing to accept less than half the prize money immediately? (iii) Given different discount rates δB and δS, what would the outcome be for the infinite horizon game where the alternating offers continue forever?

Answers

Answer:

(i) The minimum offer Susan can propose now that Bill will certainly accept is x* = (1000 / 3) * δ[tex]_{B}[/tex] * (3 - δ[tex]_{S}[/tex]).

(ii) The range of discount values   that would result in Bill agreeing to accept less than half the prize money immediately is  0 < δ[tex]_{B}[/tex] < 5/7.

(iii) Given different discount rates  and  , the outcome for the infinite horizon game where the alternating offers continue forever would be as follows:

[tex]x_{1}[/tex] = (1000(1 – δ[tex]_{B}[/tex])) / (1 +  δ

[tex]x_{2}[/tex] = (1000δ[tex]_{B}[/tex](1 – δ[tex]_{S}[/tex])) / (1 +  δ

[tex]y_{1}[/tex] = (1000δ[tex]_{S}[/tex](1 – δ[tex]_{B}[/tex])) / (1 +  δ

[tex]y_{2}[/tex] = (1000(1 – δ[tex]_{S}[/tex])) / (1 +  δ[tex]_{B}[/tex] δ

Explanation:

Note: See the attached Microsoft word file for the full explanations.

Note: Some of the signs in the questions are not stated properly. They are therefore restated before answering the question. See the restated question in the attached file for these.

High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant’s operation: Beginning inventory 0 Units produced 47,000 Units sold 42,000 Selling price per unit $ 84 Selling and administrative expenses: Variable per unit $ 4 Fixed (per month) $ 560,000 Manufacturing costs: Direct materials cost per unit $ 17 Direct labor cost per unit $ 7 Variable manufacturing overhead cost per unit $ 3 Fixed manufacturing overhead cost (per month) $ 893,000
Management is anxious to assess the profitability of the new camp cot during the month of May.
Required:
1. Assume that the company uses absorption costing.
a. Calculate the unit product cost.
b. Prepare an income statement for May.
2. Assume that the company uses variable costing.
a. Calculate the unit product cost.
b. Prepare a contribution format income statement for May.

Answers

Answer:

Results are below.

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

Unitary product cost= 17 + 7 + 3 + (893,000 / 47,000)

Unitary product cost= 27 + 19

Unitary product cost= $46

Now the income statement:

Sales= 42,000*84= 3,528,000

COGS= (42,000*46)= (1,932,000)

Gross profit= 1,596,000

Total Selling and administrative expenses= (42,000*4) + 560,000= (728,000)

Net operating profit= 868,000

The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).

Unitary variable product cost= 17 + 7 + 3

Unitary variable product cost= $27

Now, the income statement:

Sales= 3,528,000

Total variable cost= 42,000*(27 + 4)= (1,302,000)

Total contribution margin= 2,226,000

Total fixed manufacturing cost= (893,000)

Total Selling and administrative expenses= (560,000)

Net operating profit= 773,000

Which of the following is the basic accounting equation?
A. Stockholders' or Owner's Equity = Liabilities + Assets
B. Assets = Liabilities + Income
C. Liabilities = Assets + Stockholders' or Owner's Equity
D. Assets = Liabilities + Stockholders' or Owner's Equity

Answers

Answer:

owner's equity=liabilities+assets(A)

Answer:

Assets=Liabilities+Stockholders' or Owner's equity

Explanation:

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Rise N' Shine Coffee Company produces Columbian coffee in batches of 6,000 pounds. The standard quantity of materials required in the process is 6,000 pounds, which cost $5.50 per pound. Columbian coffee can be sold without further processing for $9.22 per pound. Columbian coffee can also be processed further to yield Decaf Columbian, which can be sold for $11.88 per pound. The processing into Decaf Columbian requires additional processing costs of $10,230 per batch. The additional processing also causes a 5% loss of product due to evaporation.

Required:
a. Prepare a differential analysis dated October 6 on whether to sell regular Columbian (Alternative 1) or process further into Decaf Columbian (Alternative 2).
b. Should Rise N' Shine sell Columbian coffee or process further and sell Decaf Columbian?
c. Determine the price of Decaf Columbian that would cause neither an advantage nor a disadvantage for processing further and selling Decaf Columbian.

Answers

Answer:

Rise N' Shine Coffee Company

a. Differential Analysis dated October 6:

                              Alternative 1                      Alternative 2

Sales revenue     $55,320 (6,000 * $9.22)   $67,716 (5,700 * $11.88

Costs:

Cost of product     33,000 (6,000 * $5.50)    33,000 (6,000 * $5.50)

Batch cost                                                         10,230

Evaporation loss                                                 1,650

Total costs          $33,000                             $44,880

Profit                   $22,320                             $22,836

b. Rise N' Shine should process further before selling Decaf Columbian.

c. If the price of Decaf Columbian coffee were $11.79 ($11.88 - $516/5,700), it will cause neither an advantage nor a disadvantage for processing the Columbian coffee further.

Explanation:

a) Data and Calculations:

Total quantity of materials required = 6,000 pounds

Cost price of each pound = $5.50

Selling price of Columbian coffee without further processing = $9.22

Selling price of Decaf Columbian coffee with further processing = $11.88

Costs of additional processing:

Batch cost = $10,230

Evaporation loss = 5% of 6,000 (300) = $1,650

Differential Analysis dated October 6:

                              Alternative 1                      Alternative 2

Sales revenue     $55,320 (6,000 * $9.22)   $67,716 (5,700 * $11.88

Costs:

Cost of product     33,000 (6,000 * $5.50)    33,000 (6,000 * $5.50)

Batch cost                                                         10,230

Evaporation loss                                                 1,650

Total costs          $33,000                             $44,880

Profit                   $22,320                             $22,836

Difference = $516 ($22,836 - $22,320)

Prior service cost is amortized on a straight-line basis over the average remaining service life of active employees or 15 years, whichever is longer. years-of-service method or on a straight-line basis over the average remaining service life of active employees. straight-line basis over 15 years. straight-line basis over the expected future years of service.

Answers

Answer:

years-of-service method or on a straight-line basis over the average remaining service life of active employees

Explanation:

Prior service cost (PSC) is simply defined is an instant hike or increase in PBO that is gotten or as a result of the retroactive application of hike or an increase in profits or benefits for service already given(rendered) the name "prior" service cost is given to it as a result of the service cost of previous years which was increased. An example, a defined benefit pension plan provides benefits equal to 4% of last salary for each year of service rendered. The plan is later worked on to increase the rate 4.23% and

the working on or amendment is is said to be retroactive. The present value of the increased benefits (.23%) earned prior to the adjustment or amendment is PSC. Sometimes, retroactive grant may lower the benefits for service already rendered. Amortization is an accounting technique. It is often used to constantly in a timely or periodic manner to reduce or lower the book value of a loan or intangible asset over a time period that is always set.

The amount to be amortized is gotten by giving equal amount of expense to each future period of service always for employee each and those who is mandated to receive benefits.

a. Which of the following items might you include in the basket of goods and services for the average student? The basket should include:______

a. cafeteria meals.
b. washing machines.
c. textbooks.
d. pens.

b. One of the primary expenses in a student’s basket is tuition, which is also included in the BLS calculation of the CPI. Consider the portion of total expenditure tuition accounts for in a student's budget versus a typical household's budget. Given that difference, the value of the student's basket over time has likely changed ________than the CPI.

Answers

Answer:

A. a. cafeteria meals.  

c. textbooks.

d. pens.

B. More

Explanation:

Students use textbooks and pens at school to study and take down notes. They also go to the cafeteria at meal times to eat. A student does not directly need a washing machine to be a student so the options are cafeteria meals, textbooks and pens.

Overtime, tuition fees have ballooned and are now much higher than they used to be. Students therefore spend a significant amount of their budget on tuition as opposed to Households. It can therefore be said that student's basket overtime has likely changes more than the CPI.

why is it difficult to visualize a business entity without external users?​

Answers

Answer:

Since businesses require an exchange of goods and services, external users must be involved.

Explanation:

A business is an entity set up for the sole purpose of producing goods and services that will be sold to interested buyers for a profit. The producers within an organization cannot consume all that they have produced by themselves. They need others- external users to purchase that which they have made.

In return, they make some profit through the exchange. So, because a business entity does work that requires exchange, there must be external users.

External users must be involved since businesses demand the trade of goods and services. Business decisions are largely influenced by external users.

Who are external users?

External users of business transactions are those entities interested in a company's financial results, it includes creditors, suppliers, investors, banks, financial institutions, government along with others.

A business is an entity formed solely for the aim of generating goods and services that will be sold for a profit to interested buyers.

An organization's producers can't consume what they've created on their own. They require external users to purchase what they have created in exchange for profit from the transaction.

Hence, a business entity cannot visualize itself without external users. because a business entity performs work that necessitates interchange, for which external users are required.

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gPlease record the following items in journal entry format. Clearly indicate the (a) account name (b) whether it is a (debit) or (credit) and (c) the amount. See my example below: The firm bought supplies for $6,400 on account. The firm purchased land for $450,000, $160,000 of which was paid in cash and a note payable signed for the balance. The firm paid for the supplies ($6,400) purchased on account above. The firm paid $1,000 for salaries for the month. The firm accepted cash for repair services made in the amount of $5,000 and billed additional customers for repair services of the amount of $2,500 The firm received cash from customers on account in the amount of $2,000 . The firm repaid $16,000 of its loan. The firm paid the rent and utility bill for the month for $2,000 The firm paid a cash dividend of $1,000. Example: The firm purchased Equipment for $1,000. Clearly indicate the (a) account name (b) whether it is a (debit) or (credit) and (c) the amount Correct way to answer: Equipment (debit) $1,000 Cash (credit) $1,000

Answers

Answer:

Journal Entry Format:

1. Supplies (debit) $6,400 Accounts payable (credit) $6,400

2. Land (debit) $450,000 Cash (credit) $160,000 Notes Payable (credit) $290,000

3. Accounts payable (debit) $6,400 Cash (credit) $6,400

4. Salaries Expense (debit) $1,000 Cash (credit) $1,000

5. Cash (debit) $5,000 Service Revenue (credit) $1,000

6. Accounts receivable $2,500 Service Revenue (credit) $2,500

7. Cash (debit) $2,000 Accounts receivable (credit) $2,000

8. Dividends (debit) $1,000 Cash (credit $1,000

Explanation:

With the above journal format, the account that receives value is debited while the account that gives value is credited.  This follows the accounting principle of debiting the receiver and crediting the giver.   It shows that assets, expenses, and losses have debit balances while liabilities, equity, gains, and revenues have credit balances.

Joseph shops for sugar at the grocery store. There are two types of sugar to choose from: a two-pound bag and a five-pound bag. If Joseph buys six two-pound bags and three five-pound bags, he will owe the store $24. If he buys three two-pound bags and one five-pound bag, he will owe the store $10. What is the price for a five-pound bag of sugar?

Answers

Answer:

$4

Explanation:

Let T = number of two pound sugar bags

and F = number of five pound sugar bags

6T + 3F = 24

3T + 1F = 10

F = 10 - 3T

replace in first equation

6T + [3 x (10 - 3T)] = 24

6T + 30 - 9T = 24

6 = 3T

T = $2

F = 10 - (3 X $2) = $10 - $6 = $4

Escareno Corporation has provided its contribution format income statement for June. The company produces and sells a single product. Sales (8,400 units)$ 764,400 Variable expenses445,200 Contribution margin319,200 Fixed expenses250,900 Net operating income$ 68,300 If the company sells 8,200 units, its total contribution margin should be closest to:

Answers

Answer:

$319,200

Explanation:

Total Contribution Margin = Total Sales - Total Variable Costs

therefore,

Total Contribution Margin =  $ 764,400 - $445,200

                                             = $319,200

Conclusion

Escareno Corporation total contribution margin should be closest to $319,200.

Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct labor-hours were 21,800 hours and the total estimated manufacturing overhead was $497,040. At the end of the year, actual direct labor-hours for the year were 21,500 hours and the actual manufacturing overhead for the year was $492,040. Overhead at the end of the year was: (Round your intermediate calculations to 2 decimal places.)

Answers

Answer:

Underapplied overhead= $1,640

Explanation:

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 497,040 / 21,800

Predetermined manufacturing overhead rate= $22.8 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 22.8*21,500

Allocated MOH= $490,200

Finally, the over/under allocation:

Under/over applied overhead= real overhead - allocated overhead

Under/over applied overhead= 492,040 - 490,200

Underapplied overhead= $1,640

Arctic Air Inc. manufactures cooling units for commercial buildings. The price and cost of goods sold for each unit are as follows:
1 Price per unit
$60,000.00
2 Cost of goods sold
28,000.00
3 Gross profit per unit
$32,000.00
In addition, the company incurs selling and administrative expenses of $226,250. The company wishes to assign these costs to its three major customers, Gough Industries, Breen Inc., and The Martin Group. These expenses are related to three major nonmanufacturing activities: customer service, project bidding, and engineering support. The engineering support is in the form of engineering changes that are placed by the customer to change the design of a product. The budgeted activity costs and activity bases associated with these activities are:
1
Activity
Budgeted Activity Cost
Activity Base
2
Customer service
$31,500.00
Number of service requests
3
Project bidding
74,000.00
Number of bids
4
Engineering support
120,750.00
Number of customer design changes
5
Total costs
$226,250.00
Activity-base usage and unit volume information for the three customers is as follows:
Gough Industries
Breen Inc.
The Martin
Group
Total
Number of service requests 36 28 116 180
Number of bids 50 40 95 185
Number of customer design changes 18 35 108 161
Unit volume 30 16 4 50
Required:
1. Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
2. Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
3. Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations.
Labels
December 31
For the Year Ended December 31
Selling and administrative activities
Amount Descriptions
Breen Inc.
Cost of goods sold
Customer service
Engineering support
Gough Industries
Gross profit
Income from operations
Other income (expense)
Plantwide factory overhead rate
Product cost distortion
Project bidding
Revenues
The Martin Group
Total selling and administrative activities
1. Determine the activity rates for each of the three nonmanufacturing activity pools. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
1 per serv. req.
2 per bid
3 per design change
2. Determine the activity costs allocated to the three customers, using the activity rates in (1). Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries.
1 Activity Costs
2
3
4
3. Construct customer profitability reports for the three customers, dated for the year ended December 31, using the activity costs in (2). The reports should disclose the gross profit and income from operations associated with each customer. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. Colons (:) will automatically appear if required. Enter all amounts as positive numbers, except for a negative income from operations.
Arctic Air Inc.

Customer Profitability Report
1
Gough Industries
Breen Inc.
The Martin Group
2
3
4
5
6
7
8
9
10

Answers

Answer:

See below

Explanation:

Activity rate = Overhead costs/Estimated driver

Customer service : 175 per serv. req.

Project bidding : 400 per bid

Engineering support : 750 per design change

Activity costs allocated = Activity rate × Driver consumed

Activity costs

Gough industries. 39,800

Been inc. 47,150

The Martin group. 139,300

Artic Air inc.

Customer profitability report for the year ended, December 31

Gough industries Been inc. Martin Grou

Revenues

1,800,000 960,000 240,000

Cost of goods sold

840,000 448,000 112,000

Gross profit

960,000 512,000 128,000

Selling and administrative activities:

Customer service

6,300 4,900 20,300

Project bidding

20,000 16,000 38,000

Engineering support

13,500 26,250 81,000

Total selling and administrative support

39,800 47,150 139,300

Operating income(loss)

920,200 464,850 (11,300)

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