Answers
Answer:
c. $1,740 F
Explanation:
The [tex]$\text{material quantity variance}$[/tex] is the measure of the [tex]$\text{difference}$[/tex] between the amount of materials that is used in actual for the production process and the amount of the material that was expected or estimated to be used in the production process.
It is given that the Snuggs Corporation applies the variable overhead on direct labor hour basis.
Therefore, the SQ = 2.8 ounces per unit x 1100 units = 3080 ounces
The materials quantity variance = (AQ - SQ) x SP
= (2790 ounces - 3080 ounces) x $ 6 per ounce
= (-290 ounces) x $ 6
= $ 1740 F
Related Questions
Identify the type of adjustment that would most likely be needed. Business B purchased a piece of equipment to be used in operations for $5,000 during the middle of October. Today is December 31st, the end of the 4th quarter and financial reports are being produced. g
Answers
Answer: c . Depreciation
Explanation:
When accounting for fixed assets, it is important that they are recorded at their book value to reflect the effects of being utilized. This means that depreciation needs to be charged on fixed assets.
Even though the equipment in question was only purchased 2.5 months prior to the financial reports being made, depreciation still needs to be accounted for such that the equipment is represented at its book value in the financial statement.
Surses / I-TVET / Diploma / Year One(1) DMAF.121 March - June 202 Cerea
The stockholders' equity of a company is the difference between assets and liabilities
O a. True
O b. False
Answers
Answer:
a. True
Explanation:
As we know that
Accounting equation shows that
Total assets = total liabilities + stockholder equity
if we need to find out the stockholder equity so it should be
= total assets - total liabilities
That means it shows the difference between the assets and liabilities
Therefore the given statement is true
In Finance, _____ because _____. getting a return below your required return is OK; at least you are getting a return Cash is King; it is the only thing you can spend or invest investing in a projet in which not everyone is repaid his investment is OK; at least everyone is paid something
Answers
Answer: Cash is King; it is the only thing you can spend or invest
Explanation:
Finance is all about cash. Its all about getting cash from those who have it to those who need it so that the latter can invest and earn returns for both them and the people who invested the cash.
Simply put therefore, cash is king in finance. It is the only thing that can be invested so that one gets a return or can be spent so that one's needs are fulfilled. Indeed the term finance means the provision of cash which is why the field is so important. It is safe to say that there can be no economic growth without finance.
Gordon Company reports the following information at the current fiscal year end of December 31: Common Stock, $0.10 par value per share $98,000 Additional Paid-in Capital , Common Stock 600,000 Retained Earnings 900,000 Total Stockholders' Equity $1,598,000 What was the average selling price for the common stock issued (rounded to the nearest cent)
Answers
Answer:
$0.71
Explanation:
Calculation to determine What was the average selling price for the common stock issued
Using this formula
Common stock issued avarage selling price=
Paid-in Capital in Excess of Par-Common÷Common Stock par value per share
Let plug in the formula
Common stock issued avarage selling price=($600,000+$98,000)/($98,000÷$0.10)
Common stock issued avarage selling price=$698,000/$980,000
Common stock issued avarage selling price=$0.71
Therefore the average selling price for the common stock issued is $0.71
Multiple Choice Questions _which level of management is responsible for establishing a vision for the organization, developing broad plans and strategies and directing of an organization set by executives?
Answers
Answer: Executive manager (Top manager)
Explanation:
Answer:
Top Level Managment
Explanation:
The level of management at which the managers are responsible for implementing and controlling the plans and strategies of the organization is Top Level Management. The top level managers are responsible to formulate plans and policies to achieve the set of organizational objectives.
What is the basic purpose of the consumer price index (CPI)? A. to track monthly changes in prices paid by urban consumers B. to track consumer spending on thousands of goods and services C. to predict future price increases for representative goods and services D. to predict and avoid deflation, or a decline in the general level of prices
Answers
Answer:
A). to track monthly changes in prices paid by urban consumers.
Explanation:
CPI(Consumer Price Index) is characterized as 'a statistical estimate of the price level of goods and services bought by consumers for consumption purposes by the households.' It primarily aims to estimate the change or swap in the prices of the weighted average price of the common basket(consumption goods, as well as, services that the consumers pay for). It is calculated using the formula;
[tex]CPI_{t} = \frac{C_{t} }{C_{0} } * 100[/tex]
where,
[tex]CPI_{t}[/tex] = current Consumer Price Index
[tex]C_{t}[/tex] = Current price basket
[tex]C_{0}[/tex] = Cost of price basket in the base year
It assists in deducing whether the average prices have received a fall or rise and determines inflation or deflation. Thus, option A is the correct answer.
On Monday, May 15, 2017, you bought (traded) the XZX, Inc. 8.25% corporate bonds with a trading value of $96.50 price. The coupon payments are paid on March 31 and September 30. Using the 360-day accrual basis, calculate the invoice price of the bond. Please use T+3 to calculate the settlement day.
Answers
Answer:
$97.53
Explanation:
Coupon rate = 8.25%
Flate price of bond= $96.50
FV of bond (assumed) = $100
Purchase date = May 15
Last coupon payment was made on March 31, Accrued Interest = Face value * Days since last payment * Interest rate / Days in current coupon period
Accrued Interest = Face value * Days since last payment * Interest rate / Days in current coupon period
Accrued Interest = $100 * (May 15-March 31) * 8.25% / (2*(September 30-March 31))
Accrued Interest = $100*45*8.25% / (2*180)
Accrued Interest = $1.03
Invoice Value = Flate price + Accrued Interest
Invoice Value = $96.50 + $1.03
Invoice Value = $97.53
Daniel was surprised his store ran out of marshmallows so quickly. This typically does not happen during the spring, so he runs a(n) ________ to gather unplanned information to support if he should stock up on marshmallows.
Answers
Answer:
Ad-hoc report
Explanation:
From the question we are informed about how Daniel was surprised his store ran out of marshmallows so quickly. This typically does not happen during the spring, so in this case, he runs an Ad-hoc report to gather unplanned information to support if he should stock up on marshmallows.
Ad hoc report can be regarded as
a report that is created just for a one-time-use I e for a specific purpose.
With the use of BI tool there is possibility of anyone in an organization answering a specific business question and give presentation of that data in a visual format, even without given IT staff problems, Ad hoc report is different from structured report.
A firm has total debt of $5,900 and a debt-equity ratio of 0.57. What is the value of the total assets?
A. $6,128.05.
B. $7,253.40.
C. $9,571.95.
D. $11,034.00.
E. $13,358.77.
Answers
Answer:
See below
Explanation:
Given the above information, we need to calculate first the total equity.
Total equity = Total debt / (Debt - Equity ratio)
Total equity = $5,900 / 0.57
Total equity = $10,350.877
Now,
Total assets = Total debt + Total equity
Total assets = $5,900 + $10,350.88
Total assets = $16,250.88
Therefore the value of the total assets are $16,250.88
Red Co. has a long-term construction contract that qualifies for revenue to be recognized over time. When Red is determining the amount of income to recognize for year two, which of the following items would Red not use in this calculation?1- Actual cost to date2- Income recognized in year one3- Progress billings to date4- Total expected cost
Answers
Answer:
Red Co.
The items that Red would not use in determining the amount of income to recognize for year two are:
2- Income recognized in year one
3- Progress billings to date
Explanation:
The income recognized in year one is purely for year one. It is not necessary to determine the income in year two. The progress billings to date do not impact the income to be recognized in any year. It is not relevant. The relevant items include the actual cost to date and the total expected cost vis-a-vis the expected total or contract revenue.
____ includes all elements existing outside the boundary of the organization that have the potential to affect the organization. a. Task environment b. Technological environment c. General environment d. Internal environment e. Organizational environment
Answers
Answer:
E
Explanation:
Organizational environment
Social Security Multiple Choice Is a Defined Benefit Pension Plan Is offered by local governments Is an optional Pension Plan Is a Defined Contribution Pension Plan g
Answers
Answer:
In simple words, Retired, incapacity, as well as survivor payments are all part of the Social Security program. In its nature, it is very much like a defined benefit pension plan.
Most employees contribute Social Security levies on their income to apply for many of these claims; claimants' advantages are dependent on the wages earner's payments. Aside from that, benefits like Supplemental Security Income (SSI) are dependent on use.
Define the concept management from functional perspective and clearly explain each of its
major functions
Answers
Answer:
Management refers to the ability or art of setting objectives, organizing, motivating the people resources, devising systems of measurement, and building human capacity towards the attainment of all organization objectives.
Explanation:
1. Defining Objectives: This flows down from the Founder and Chief Vision Officer. The objectives of an organization is the purpose for which an organization was set up. An example could be to give people living with a disability the opportunity to live inclusively, attaining their highest selves.
2. Organizing: When objectives are taken and put in form of goals, these goals are devolved through to management in the form of achievable tasks who then delegate them to staff. The process of ensuring that each staff know their tasks, who they are accountable to, and work together harmoniously is called Organising.
3. Motivating team: It is not enough to have human resources. It is critical that they be willing to work together, harmoniously and happily. This way, the company enjoys the highest performance possible.
4. Defining Performance Indicators
What is not measured can not be managed. Performance Indicators are systems of measurement that enable the organization to keep track of whether or not the goals are being met and in what measure they are.
5. Building Capacity
Organizations that build leaders the fastest are the ones that win. Building human capacity is the equivalent of upgrading machinery or opting for higher manufacturing technology in the industrial age. People are able to solve problems to the extend that they know how to. The more they know, the better and faster they are at solving such problems. Hence, increasing organizational competency and effectiveness.
Cheers
Options allow investors to get rid of the risks they do not want and keep the ones they do want. can be used for hedging but not for speculation. obligate the holder to sell the underlying asset at a predetermined price on or before a fixed date. allow investors to bet that the price of an underlying asset will rise but not that it will fall.
Answers
Answer:
allow investors to get rid of the risks they do not want and keep the ones they do want
Explanation:
In the option, it permit the investor to get rid of the risk as they dont want also it keeps that one which they want
The other options are to be considered incorrect as in the second option, it is used for the speculation also, the third option is wrong as the holders of the options have the right but not the obligation, and the last option is incorrect as it is used for bet in the case when the price is decline or increase
Therefore the first option is correct
A product that passes test-marketing is ready for market introduction, which is called ____, a step that requires extensive logistical coordination.
Answers
Answer: Rollout
Explanation:
A product that passes test-marketing is ready for market introduction, which is refered to as rollout.
Rollout is simply a business term that is used for the introduction of a new product and it's integration to the market. The rollout is the product release, and this is usually accompanied by a marketing campaign in order to attract the interest of the consumer.
When researching and planning for your future career, you should consider these things about yourself?
O your hobbies and interests
O your personality
o the things you do well
o all of the above
Answers
I hope this helps u
Rhonda purchased a %, zero-coupon bond with a -year maturity and a $ par value years ago. The bond matures tomorrow. How much will Rhonda receive in total from this investment, assuming all payments are made on these bonds as expected?
Answers
Answer:
$15,000
Explanation:
Complete question "Rhett purchased a 12% zero-coupon bond with a 15-year maturity and a $15,000 par value 15 years ago. The bond matures tomorrow. How much will Rhett receive in total from this investment, assuming all payments are made on these bonds as expected?"
Zero Coupon Bonds means exactly what the name carries and suggested "Zero Coupon (Interest) bonds".
This Coupon Bond pays no interest to the bond holders and are issued at deep discount to its face value.
Zero Coupon Bonds are matured at par value, meaning the maturity amount to the paid is equals to the par value. In other word, the bondholders will get only Par Value of the bond at maturity.
So here, Rhett will receive on maturity date the amount of $15,000.
A lease is a contract between a tenant and a __________ Response area. Most leases are for Response area __________ months.
Answers
Hope this helps
SegR-7268 Corporation has two divisions, East and West. The following information was taken from last year's income statement segmented by division: East Division West Division Sales $3,700,000 $2,300,000 Contribution margin $1,650,000 $1,000,000 Divisional segment margin $1,100,000 $350,000 Net operating income last year for SegR-7268 Corporation was $600,000. In last year's income statement segmented by division, what were SegR-7268's total common fixed expenses?
a. $2,050,000
b. $850,000
c. $2,300,000
d. $1,200,000
Answers
Answer:
b. $850,000
Explanation:
Divisional Segment Margin = $1,100,000 + $350,000
Divisional Segment Margin = $1,450,000
Net Operating Income = $600,000
Common fixed expenses = Divisional Segment Margin - Net Operating Income
Common fixed expenses = $1,450,000 - $600,000
Common fixed expenses = $850,000
So, SegR-7268's total common fixed expenses will be $850,000.
A similarity between monopoly and monopolistic competition is that in both market structures a. there are only a few buyers but many sellers. b. there are a small number of sellers. c. sellers are price makers rather than price takers. d. strategic interactions among sellers are important.
Answers
Answer:
c
Explanation:
A monopolistic competition is when there are many firms selling differentiated products in an industry. A monopolistic competition has characteristics of both a monopoly and a perfect competition. the demand curve is downward sloping. it sets the price for its goods and services.
An example of monopolistic competition are restaurants
When firms are earning positive economic profit, in the long run, firms enter into the industry. This drives economic profit to zero
If firms are earning negative economic profit, in the long run, firms leave the industry. This drives economic profit to zero
in the long run, only normal profit is earned
A monopoly is when there is only one firm operating in an industry. there are usually high barriers to entry of firms. the demand curve is downward sloping. it sets the price for its goods and services.
An example of a monopoly is a utility company
A price maker is a seller that sets the price for its goods and services. A monopoly and a monopolistic competition are price makers
On a particular day, there were 600 stocks that advanced on the NYSE and 700 that declined. The volume in advancing issues was 80,846,000, and the volume in declining issues was 70,397,000. The trin ratio is _ , and technical analysts are likely to be __.
Answers
Answer:
0.75 bearish
Explanation:
Calculation to determine what The trin ratio is, and technical analysts are likely to be .
Using this formula
Trin ratio=Advancing issues volume/Advance Stock NYSE/Volume in declining /Decline stock NYSE
Let plug in the formula
Trin ratio=70,397,000/700/80,846,000/600=1.11
Trin ratio=$100,567.14/$134,743.33
Trin ratio=0.75
Therefore The trin ratio is 0.75 and technical analysts are likely to be BEARISH
Xavier Co. wants to purchase a machine for $36,600 with a four year life and a $1,200 salvage value. Xavier requires an 8% return on investment. The expected year-end net cash flows are $11,600 in each of the four years. What is the machine's net present value
Answers
Answer:
$2702.71
Explanation:
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Cash flow in year 0 = $-36,600
Cash flow in year 1 - 3 = $11,600
Cash flow in year 4 = $11,600 + $1,200
I = 8%
NPV = 2702.71
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Which performance management evaluation criterion reflects the extent to which a performance measure assesses all the relevant - and only the relevant - aspects of performance
Answers
Answer:
E. Validity
Explanation:
This are options for the question
A. Reliability
B. Strategic congruence
C. Acceptability
D. Specificity
E. Validity
Performance evaluation can be regarded as process whereby manager or consultant carry out examination or evaluatation of an employee's work behavior through comparisons of it with preset standards, then the results of the comparison is documentd and uses to provide feedback to the employees and point where improvements are needed as well as reason why. Validity which is one of criterion for performance management evaluation gives reflection of the extent that a performance measure is been assessed with all the relevance aspects of performance
On January 1, 2021, Canseco Plumbing Fixtures purchased equipment for $30,000. Residual value at the end of an estimated four-year service life is expected to be $2,000. The company expects the equipment to operate for 10,000 hours. Calculate depreciation expense for 2021 and 2022 using each of the following depreciation meth- ods: (1) straight line, (2) double-declining balance, and (3) units-of-production using hours operated. The equip- ment operated for 2,200 and 3,000 hours in 2021 and 2022, respectively.
Answers
Answer:
1.
$7000
$7000
2.
$15,000
7500
3.
6160
8400
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
(30,000 - 2000) / 4= $7000
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life)
2/4 x 30,000 = $15000
book value in year 2 = 15,000
2/4 x 15000 = 7500
Activity method based on output = (output produced that year / total output of the machine) x (Cost of asset - Salvage value)
2200 / 10,000 x (30,000 - 2000)
3000 / 10,000 x (30,000 - 2000)
The direct materials and direct labor budgets provide information for preparing the Group of answer choices sales budget. production budget. manufacturing overhead budget. cash budget.
Answers
Answer:
The correct answer is the last option: Cash budget.
Explanation:
To begin with, the term known as "Cash Budget" in the field of finances and business management refers to the type of budget that specifically focus on the estimation of the cash flows of the company in a particular amount of time. Therefore that this budget helps the organization to see how much of cash they are having and more importantly how it flows over a given period of time that could be either a week, a month or a year, etc. It is necessary to manage to a certain level of sales and control de expenditures in order to have a good cash flow which is monitored by the cash budget.
The ___ act requires companies to produce both an internal control report and an external audit.
A. Securities and Exchange
B. Dodd-Frank
C. Sarbanes-Oxley
D. Uniform Accounting
Answers
The Sarbanes-Oxley act requires companies to produce both an internal control report and an external audit.
The Sarbanes-Oxley Act (SOX) is a federal law enacted by the United States Congress in 2002 to improve corporate governance and financial reporting by public companies.
The act was a response to a series of high-profile accounting scandals in the early 2000s, such as Enron, WorldCom, and Tyco, which eroded investor confidence and caused significant financial losses for stakeholders.
Learn more about Sarbanes-Oxley act, here
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The Andrews company currently has the following balances in their equity accounts: Common Stock $12,079 Retained earnings $90,369 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What will Andrews ending balance in Retained Earnings be next year
Answers
Answer:
$120,669
Explanation:
Ending Retained Earnings = Opening Retained Earning + Net Income - Dividends
therefore,
Ending Retained Earnings = $90,369 + $46,300 - $16,000 = $120,669
thus,
Ending balance in Retained Earnings be next year will be $120,669
Heavy Metal Corporation is expected to generate the following free cash flows over the next three years. Thereafter, the free cash flows are expected to grow at the industry average of 2% per year (so that Year 4 FCF is 2% larger than Year3 FCF, and so on). Using the discounted free cash flow model and a WACC of 9%, estimate the enterprise value of Heavy Metal. Year 1 2 3 FCF ($ million) 10 20 30 Select one: a. $335.5 million b. $437.1 million c. $386.7 million d. $467.1 million
Answers
Answer:
c. $386.7 million
Explanation:
The enterprise value of the firm is the present value of its future free cash flows discounted at the weighted average cost of capital as well as the present value of free cash flow terminal value beyond year 3 as shown thus:
Year 1 FCF=$10 million
Year 2 FCF=$20 million
Year 3 FCF=$30 million
terminal value=Year 3 FCF*(1+terminal growth rate)/(WACC-terminal growth rate)
terminal growth rate=2%
WACC=9%
terminal value=$30*(1+2%)/(9%-2%)
terminal value=$437.14 million( $437.1 million is wrong as it is the terminal value, not the enterprise value)
present value of FCF=FCF/(1+WACC)^n
n is the year in which the free cash flow is expected, it is 1 for year 1 FCF, 2 for year 2 FCF , 3 for year 3 FCF as well as the terminal (the terminal value is also stated in year 3 terms)
enterprise value=$10/(1+9%)^1+$20/(1+9%)^2+$30/(1+9%)^3+$437.14 /(1+9%)^3
enterprise value= $386.7 milion
Bonita Industries received $108000 in cash and a used computer with a fair value of $384000 from Carla Vista Co. for Bonita Industries's existing computer having a fair value of $492000 and an undepreciated cost of $461700 recorded on its books. The transaction has no commercial substance. How much gain should Bonita recognize on this exchange, and at what amount should the acquired computer be recorded, respectively
Answers
Answer:
$30,300 and $384,000
Explanation:
The computation of the gain and the amount should acquired is shown below;
The gain is
= Fair value - undepreciable cost
= $492,000 - $461,700
= $30,300
And, the amount at which the computed should be recorded is equivalent to the fair value i..e $384,000
The same is considered and relevant
Calculating return on investment for an investment center is defined by the following formula: Multiple Choice Gross profit/Ending assets. Contribution margin/Average invested assets. Income/Average invested assets. Net income/Ending assets. Contribution margin/Ending assets.
Answers
Answer:
Income/Average invested assets
Explanation:
We use the Income attributable to the investment and the average assets invested.
thus
Calculating return on investment for an investment center is defined by the following formula: Income/Average invested assets.