Answer:
$100 million
Explanation:
Increase in the total value of checkable deposit is determined by the money multiplier
Reserves = required reserves + excess reserves
Required reserves is the percentage of deposits required of banks to keep as reserves by the central bank
Excess reserves is the difference between reserves and required reserves
Money multiplier = amount deposited / reserve requirement
$30 million / 0.2 + 0.1 = $100 million
Desert Company issued $15,000,000 of 8% bonds on May 1, 2020, and received cash totaling $13,308,942. The bonds pay interest semiannually on May 1 and November 1. The maturity date on these bonds is November 1, 2028. The firm uses the effective interest method of amortizing discounts and premiums. The bonds were sold to yield an effective interest rate of 10%. Calculate the TOTAL dollar amount of discount that was amortized during the entire first year (5/1/20 through 4/30/21) these bonds were outstanding.
Answer:
Desert Company
The TOTAL dollar amount of discount that was amortized during the entire first year (5/1/20 through 4/3/21) these bonds were outstanding is:
= $65,447.
Explanation:
a) Data and Calculations:
Face value of bonds = $15,000,000
Issue value (proceeds) 13,308,942
Discount on the bonds $1,691,058
Coupon rate = 8%
Effective interest rate = 10%
Period of bonds = 8 years
November 1, 2020:
Interest expense = $665,447 ($13,308,942 * 5%)
Cash payment = $600,000 ($15,000,000 * 4%)
Discount amortized $65,447
Bond outstanding value = $13,374,389 ($13,308,942 + $65,447)
May 1, 2021:
Interest expense = $668,719 ($13,374,389 * 5%)
Cash payment = $600,000 ($15,000,000 * 4%)
Discount amortized $68,719
Bond outstanding value = $13,443,108 ($13,374,389 + $68,719)
One of the main concerns about buyer-supplier partnerships is: Question 15 options: if cooperative relationships will get better results than competition. if the relationship will violate antitrust laws. if internal users will go along with the idea. if there will be any long-term benefits. if it is possible to partner with offshore suppliers
Answer:
if cooperative relationships will get better results than competition.
Explanation:
Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers.
Generally, supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers. The fundamental principle of supply chain management is the complete collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing (producer), a supplier, a wholesaler and a retailer who typically sells the products to the customers or consumers (buyers).
Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.
A buyer-supplier partnership can be defined as any commercial transaction that arises between business firms for the purchase and supply of finished goods and services at a specific period of time.
One of the main concerns about buyer-supplier partnerships is, if cooperative relationships will get better results than competition.
This ultimately implies that, a buyer-supplier partnership is focused on exploring the option of cooperative relationship between multiple businesses so as to facilitate or improve the availability of finished goods and services for the end users (buyers). This relationship is opposed to having businesses compete against each other in the market.
On January 2, 20X5, Patriot purchased 80 percent of Jags Inc.'s outstanding common shares for $800,000. Jag reported net income of $310,000 for 20X5, and paid dividends of $100,000. What are all the cost method adjustments?
Answer:
Patriot Company
The cost method adjustments are:
Debit Cash $80,000
Credit Dividends Revenue $80,000
To record the dividends received from Jags Inc.
Explanation:
a) Data and Calculations:
Investment in Jags Inc. = 80%
Jag's outstanding common shares = $800,000
Net income for 20X5 = $310,000
Dividends paid = $100,000
Cost of investment in Jags = $640,000
Cost method adjustments:
Cash $80,000 Dividends Revenue $80,000 ($100,000 * 80%)
b) With the 80% shareholding in Jags Inc., the investment is supposed to be accounted for using the equity method and not the cost method, and the accounts of the two companies should be consolidated. However, using the cost method leaves the investment at cost (or purchase price) in the balance sheet, while adjustments are made for dividends revenue.
A maker of micromechanical systems can reduce product recalls by 10% with the installation of new packaging equipment. If the cost of the new equipment is expected to be $70,000, 6 years from now, how much could the company afford to spend now (instead of 6 years from now) at a minimum attractive rate of return of 14% per year?
Answer:
The right solution is "31892.12".
Explanation:
The given values are:
Future value,
FV = $70,000
rate of return,
r = 14%
Time,
T = 6
Now,
The company afford to spend,
= [tex]\frac{FV}{(1+r)^T}[/tex]
On putting the given values, we get
= [tex]\frac{70000}{(1+14 \ percent)^6}[/tex]
= [tex]\frac{70000}{(1+0.14)^6}[/tex]
= [tex]\frac{70000}{(1.14)^6}[/tex]
= [tex]\frac{70000}{2.1949}[/tex]
= [tex]31892.12[/tex]
Desert Company gives each of its 75 employees 11 days of vacation a year if they are employed at the end of the year. Assume the employees were employed continuously during the year. The vacation accumulates and may be taken starting January 1st of the next year. The employees work 8 per day. During the year, they made $29 per hour. The company's policy is to record the liability existing at the end of each year at the wage rate for that year. What amount of vacation liability would be reflected on Desert's year-end balance sheet?
Answer: $191,400
Explanation:
Based on the information given in the question, the amount of vacation liability that would be reflected on Desert's year-end balance sheet will be calculated thus:
= Number of employees × Number of vacation days × Number of hours worked per day by the employees × Amount made per hour by employees
= 75 × 11 × 8 × 29
= $191,400
Therefore, the vacation liability is $191,400
Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.
A company reports the following:
Net Sales $1,200,000
Average accounts receivable (Net) 100,000
a. Accounts receivable turnover _____
b. Number of days' sales in receivables _____ days _____
Determine (a) the inventory turnover and (b) the number of days' sales in inventory. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume 365 days a year. A company reports the following:
Cost of goods sold $630,000
Average inventory 90,000
a. Inventory turnover _____
b. Number of days' sales in inventory _____ days
Answer:
Determination of the following:
1a. Accounts receivable turnover _____ 30.4 x
b. Number of days' sales in receivables _____ 12 days
2a. Inventory turnover _____ 52.1x
b. Number of days' sales in inventory _____ 7 days
Explanation:
a) Data and Calculations:
Company A:
Net sales = $1,200,000
Average accounts receivable (net) = $100,000
Accounts receivable turnover = Net sales/Average accounts receivable
= $100,000/$1,200,000 * 365
= 30.4x
Number of days' sales in receivables = Number of days in the period/Accounts receivable turnover
= 365/30.4 = 12 days
Inventory Turnover = Average inventory /Cost of goods sold * 365
= $90,000/$630,000 * 365
= 52.1x
Number of days' sales in inventory = Number of days in the period/Inventory Turnover
= 365/52.1
= 7 days
The work-in-process inventory as of October 1 consisted of 5,000 units, values at $4,300, that were 20% complete. During October, 27,000 units were transferred out. Inventory as of October 31 consisted of 3,000 units that were 50% complete. The weighted-average inventory cost per unit completed in October was:
Answer:
see explanation
Explanation:
Hi your question is incomplete, i tried to look for it online and i could not find it. The explanations however are provided below
Step 1 : Equivalent units
Here you determine the equivalent units which is the physical units completed in terms of materials and conversion cost (labor and overheads)
Step : Total Costs
Here you find the total of materials and conversion costs. The opening work in process costs plus the current period costs.
Step 3 : weighted-average inventory cost
Cost per unit = Total Cost ÷ Total Equivalent units
Danali Corporation has 2,500,000 shares of common stock outstanding. Danali has a 15-member board, and five will leave at the end of this year. There are nine candidates for these five open seats. The minority group of stockholders controls 45 percent ofthe shares, and the majority group controls the other 55 percent. How many voting shares would be needed to elect 3 directors
Answer:
3,125,501
Explanation:
No of directors seat desired = 5
Total number of voting share = 2,500,000 shares
Total number of directors to be elected = 3
We are using the cumulative voting approach to calculate how many voting shares would be needed to elect 3 directors:
Voting shares needed = [(Number of Directors desired * Total number of voting shares) / (Total number of directors to be elected + 1 )] + 1
Voting shares needed = [(5*2,500,000) / (3 + 1)] + 1
Voting shares needed = [12,500,000 / 4] + 1
Voting shares needed = 3,125,000 + 1
Voting shares needed = 3,125,001
So, the number of voting shares needed to elect 3 directors is 3,125,501.
A company has revenues of $48 million and depreciation and amortization expenses of $8 million. Operating margin is 26%, net margin is 7% and gross margin is 57%. It has $24 million of debt, $7 million in cash, and 16 million shares outstanding. Comparable companies are trading at an average EV/EBITDA multiple of 19. How much are this company's shares worth using relative valuation
Answer:
$23.26
Explanation:
EBITDA = Revenue*Operating margin + Depreciation
EBITDA = $48*26% + $8
EBITDA = $12.48 + $8
EBITDA = $20.48
Share worth = (Worth - Debt + Cash) / Shares
Share worth = ($20.48*19 - $24 + $7) / 16
Share worth = ($389.12 - $24 + $7) / 16
Share worth = $372.12 / 16
Share worth = $23.2575
Share worth = $23.26
The 12% bonds payable of Desert Company had a carrying amount of $4,136,341 on December 31, 2020. The bonds, which had a face value of $4,000,000, were issued at a premium to yield 10%. Desert uses the effective interest method of amortization. Interest is paid semiannually on June 30th and December 31st. On June 30, 2021, several years before their maturity, Desert retired the bonds at 104 plus accrued interest. The loss on retirement, ignoring taxes, is?
Answer:
$56,842
Explanation:
Calculation to determine what The loss on retirement, ignoring taxes, is
First step is to calculate the CV of bonds
CV of bonds=$4,136,341 – [($4,000,000 × .06) – ($4,136,341 × .05)]
CV of bonds=$4,136,341 –($240,000-$206,817)
CV of bonds=$4,136,341 – $33,183
CV of bonds=$4,103,158
Now let calculate the Loss on retirement
Loss on retirement=($4,000,000 × 1.04) –$4,103,158
Loss on retirement =$4,160,000-$4,103,158
Loss on retirement =$56,842
Therefore The loss on retirement, ignoring taxes, is $56,842
What is the purpose of a self-assessment?
A. To make it easier to get into college
B. To present to prospective employers
C. To create an education and career plan
D. To make it easier to write a resume
Answer:C. To create an education and career plan.
Explanation: a. p. e. x.
Franklin Rentals can purchase a van that costs $108,000; it has an expected useful life of four years and no salvage value. Franklin uses straight-line depreciation. Expected revenue is $45,360 per year. Assume that depreciation is the only expense associated with this investment. Required Determine the payback period. (Round your answer to 1 decimal place.) Determine the unadjusted rate of return based on the average cost of the investment. (Round your answer to 1 decimal place. (i.e., .234 should be entered as 23.4).)
Answer and Explanation:
The computation is shown below
Payback period is
= Purchase value ÷ expected revenue per year
= $108,000 ÷ $45,360
= 2.38 years
= 2.4 years
Now the unadjusted rate of return based on the average cost of the investment is
= ($45,360 - $108,000 ÷ 4) ÷ ($108,000 ÷ 2)
= $18,360 ÷ $54,000
= 34.0%
The same would be considered
Rolling Hills Golf Course is planning for the coming golfing season. Investors would like to earn a 10% return on the company's $50,000,000 of assets. The company primarily incurs fixed costs to groom the greens and fairways. Fixed costs are projected to be $30,000,000 for the season. About 600,000 rounds of golf are expected to be played each year. Variable costs are about $17 per round of golf. Rolling Hills Golf Course has a favorable reputation in the area and, therefore, has some control over the sales price of a round of golf. Using a cost-plus pricing approach, what sales price should Rolling Hills charge for a round of golf to achieve the desired profit
Answer: $75.33
Explanation:
First find the total costs of a round of golf for the entire season:
= Fixed costs + Variable costs
= 30,000,000 + (17 * 600,000 rounds)
= $40,200,000
They would like to earn 10% on 50,000,000 which is $5,000,000
The revenue should therefore be:
= Costs + Expected return
= 40,200,000 + 5,000,000
= $45,200,000
Price per round to achieve this:
= Revenue / Rounds of golf
= 45,200,000 / 600,000
= $75.33
The equation describes the value of an investment after years. For the investment, give the initial value, the continuous growth rate, the annual growth factor, and the annual growth rate. Round your answer for the annual growth factor to four decimal places, and your answer for the annual growth rate to two decimal places. The initial value is 1100 . The continuous growth rate is . The annual growth factor is . The annual growth rate is .
Answer:
The continuous growth rate is 4.2%.
The annual growth factor is 0.04289.
The annual growth rate is given as 4.23%.
Explanation:
As the complete question is not given, the complete question is found online and the solution is then implemented. The complete question is attached.
The equation is given as
[tex]V=1100e^{0.042t}[/tex]
The continuous growth rate is given as by comparing it with the value of [tex]V=V_oe^{kt}[/tex]
Here K is the continuous growth rate thus K is 0.042. or 4.2%.
The continuous growth rate is 4.2%.
The annual growth factor is given as
[tex]V_o(1+r)^t=V_oe^{0.042t}\\(1+r)^t=(e^{0.042})^t\\1+r=e^{0.042}\\1+r=1.04289\\r=1.04289-1\\r=0.04289[/tex]
The annual growth factor is 0.04289.
The annual growth rate is given as 4.23%.
The Ford Motor Corporation and Toyota Motor Corporation planned to join forces in 2011 to produce a hybrid truck that would meet fleet emission standards. Toyota had considerable experience at that point with hybrid vehicles, and coupled with Ford's long history of truck manufacturing, it would be a potentially productive partnership. What would be the best structure for the collaboration between these two automotive giants
Answer: joint venture
Explanation:
The best structure fmtahts ideal for the collaboration between these two automotive giants will be a joint venture.
A joint venture is a form of business whereby two or more businesses come together and join their resources together so that they'll achieve a common goal.
When Ford and Toyota pool their resources together, this will bring about access to new markets, increased capacity, access to new knowledge, greater resources, and the improvement in income.
Who's good a economics?
Suppose that the price of corn is risky, with a beta of .5. The monthly storage cost is $.03, andthe current spot price is $5.50, with an expected spot price in 3 months of $5.88. If the expectedrate of return on the market is 0.9% per month, with a risk-free rate of 0.5% per month, wouldyou store corn for 3 months
Answer
If the expectedrate of return on the market is 0.9% per month, with a risk-free rate of 0.5% per month, wouldyou store corn for 3 months
Given the risk free rate and the other available data, the decision would be to store corn for 3 months.
How to make to decison on storageExpected return = 0.9%
expected spot price = $5.88
risk-free rate= 0.5%
monthly storage cost = 0.03
Formula for CAPM = r0 + (rm - rf) β
= 0.5% + (0.9%-0.5%)0.5%
= 0.7%
The expected return can be solved as:
5.5(1+r)³ = 5.88 - 0.03x3
[tex]=( \frac{5.79}{5.5} )^\frac{1}{3} -1[/tex]
= 0.17
The decision to be made here is that since the expected return is more than required rate of return, it would be best to store corn.
Read more on risk free rate here: https://brainly.com/question/26113005
state two branches of Commerce
Answer:
Trade and aids to trade.
Explanation:
Trade refers to the actual trading of goods and services for something of value. The branches of commerce comprise two fundamental categories: trade and aids to trade.
A multinational corporation has decided to
relocate to a Caribbean country. Which of
the following is a potential benefit to the host
country?
{ හි ශ්රී
Increase in foreign exchange
carnings
Lower transportation costs for the
finished product
Better access to local natural
resources
Better knowledge of consumers'
taste
(D)
Harlan Mining Co. has recently decided to go public and has hired you as an independent CPA. One statement that the enterprise is anxious to have prepared is a statement of cash flows. Financial statements of Harlan Mining Co. for 2022 and 2021 are provided below. Cash Accounts receivable Inventory Property, plant and equipment Less accumulated depreciation
BALANCE SHEETS
12/31/22 12/31/21
Cash $408,000 192,000
Accounts receivable 360,000 216,000
Inventoy 384,000 $480,000
Property, plant and equipment $608,000 $960,000
Less accumulated depreciation (320,000) 288,000 (304,000) 656,000
$1.440.000 $1.544.000
Accounts payable $176,000 $96.000
Income taxes payable 352,000 392,000
Bonds payable 360,000 600,000Common stock 216,000 216,000
Retained earnings 336.000 240.000
$1,544.000 $1.440.000
INCOME STATEMENT
For the Year Ended December 31, 2022
Sales revenue $8,400,000
Cost of sales 7,152.000
Gross profit 1,248,000
Selling expenses $600,000
Administrative expenses 192.000 792,000
Income from operations 456,000
Interest expense 72,000
Income before taxes 384,000
Income taxes 96,000
Net income $288.000
The following additional data were provided:
1. Dividends for the year 2019 were $192,000.
2. During the year, equipment was sold for $240,000. This equipment cost $352,000 originally and had a book value of $288,000 at the time of sale. The loss on sale was incorrectly charged to cost of sales.
3. All depreciation expense is in the selling expense category.
Under the direct method, the cash received from customers is:____.
Answer:
The cash received from customers under the direct method is $8,256,000.
Explanation:
Given:
Beginning accounts receivable = Accounts receivable on 12/31/21 = $216,000
Ending accounts receivable = Accounts receivable on 12/31/22 = $360,000
Sales revenue = $8,400,000
Therefore, we have:
Cash received from customers = Beginning accounts receivable + Sales revenue - Ending accounts receivable = $216,000 + $8,400,000 - $360,000 = $8,256,000
Therefore, the cash received from customers under the direct method is $8,256,000.
Use sensitivity analysis to determine the range of demand probabilities for which each of the decision alternatives has the largest expected value. (Round your answers to four decimal places.) If the probability of strong demand falls below 690 Incorrect: Your answer is incorrect. , the discount Correct: Your answer is correct. service is the best choice. If the probability of strong demand is greater than 980 Incorrect: Your answer is incorrect. , the full price Correct: Your answer is correct. service is the best choice.
Answer: Hello attached below is the missing part of your question
answer : discount will be the preferred service, if the probability of strong demand is less than 0.5786
Explanation:
The full price ( EV ) = (960)*p + ( -490 )*(1-p)
= 960p + 490p - 490
= 1450p - 490 ------------- ( 1 )
Discount price ( EV ) = (370)*p + (320)*(1-p)
= 370p - 320p + 320
= 50 p + 320 ---------------- ( 2 )
equate equation 1 and 2
1450p - 490 = 50p + 320
1450p - 50p = 320 + 490
∴ p = 810/1400 = 0.5786
Hence discount will be the preferred service, if the probability of strong demand is less than 0.5786
2. Which choice below is NOT an example of an employability skill? *
Communication
Problem-solving
Working in Teams
Operating Machinery
ortant
Answer:
Operating Machinery
Explanation:
The correct option is - Operating Machinery
Reason -
For a job,
Employers want to make sure you are qualified for the job by having the appropriate degree,
But they also need to know if you have the skill set too.
The top 5 Employment skills are :
Critical thinking and problem solving Teamwork and collaboration Professionalism and strong work ethic Oral and written communications skills LeadershipSo,
Communication , Problem-solving , Working in Teams are examples of an Employability skill
But Operating Machinery is not an employability skill .
Which leadership style is most useful when time is abundant, quality output is essential, and enthusiasm and
motivation from the employees needs to be generated?
a.
Authoritarian
b.
Coaching
C.
Democratic
d.
All of the above
Answer:
democratic
Explanation:
Democratic leadership style is most useful when time is abundant, quality output is essential, and enthusiasm and motivation from the employees needs to be generated.
Bellingham Company produced 6,600 units of product that required 7 standard direct labor hours per unit. The standard variable overhead cost per unit is $2.60 per direct labor hour. The actual variable factory overhead was $116,040. Determine the variable factory overhead controllable variance. Enter a favorable variance as a negative number using a minus sign and an unfavorable variance as a positive number.
Answer:
-$4,080 favorable
Explanation:
The computation of the variable factory overhead controllable variance is shown below:
Standard labour overheads needed for actual output
= 6,600 units × 7 direct labor hours
= 46,200
Standard overhead cost = 2.60 × 46,200 hours
= $120,120
And, Actual overhead cost is $116,040
Now the Variance is
= standard overhead cost - actual overhead cost
= $120,120 - $116,040
= -$4,080 favorable
CHRISTIE IS THINKING ABOUT GETTING A TERM LIFE insurance policy. She currently makes $75,000 a year. Her husband, Chip, is a stay at home dad. He takes care of their 6 year child who has autism. Based on a conversation Christie had with her dad, she estimates that she'll need $750,000 in life insurance. What method did Christie most likely use to calculate her life insurance needs
Answer: c. Complex Needs Analysis
Explanation:
The Complex needs analysis method is the most probable assessment method used by Christie on account of her dependents. Christie has a child who has Autism which means that she has to factor in the various costs associated with with managing the condition as the child grows.
These are complex needs which is why the complex needs approach is best. The other approaches do not take into account (at least not adequately), the needs of the child so aren't the best fit.
For Christie who calculates her life insurance needs taking into account her autistic child and her stay-at-home father, the method that Christie most likely used to arrive at her calculation is the Complex Needs Analysis.
What is Complex Needs Analysis?Complex Needs Analysis is a way of calculating how much insurance a person needs based on his or her present condition.
It takes into consideration factors like the future cost of education, and inheritance to be bequeathed on offsprings.
In Christie's case, factors like her autistic child and her needs were put into consideration. Therefore, Christie most likely used the Complex Needs Analysis methods.
Other methods that can be used to calculate insurance needs are Human Life Value and Income Multiple methods.
Learn more about Complex Needs Analysis here:
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EZ Wheels Corporation manufactures kick scooters. The company offers a one-year warranty on all scooters. During 2017, the company recorded net sales of $1,900 million. Historically, about 4% of all sales are returned under warranty and the cost of repairing and or replacing goods under warranty is about 30% of retail value. Assume that at the start of the year EZ Wheels’ balance sheet included an accrued warranty liability of $16.3 million and at the end of the year, the accrued warranty liability balance was $12.4 million. What was EZ Wheels Corporation’s warranty expense for 2017?
Answer:
$22.8 million
Explanation:
Calculation to determine EZ Wheels Corporation’s warranty expense for 2017
Using this formula
2017 Warranty expense=Net sales*Percentage of sales returned*Percentage cost of replacing goods
Let plug in the formula
2017 Warranty expense=$1,900 million x 4% x 30%
2017 Warranty expense= $22.8 million
Therefore EZ Wheels Corporation’s warranty expense for 2017 is $22.8 million
Lisah, Inc., manufactures golf clubs in three models. For the year, the Big Bart line has a net loss of $3,800 from sales $201,000, variable costs $175,000, and fixed costs $29,800. If the Big Bart line is eliminated, $19,700 of fixed costs will remain. Prepare an analysis showing whether the Big Bart line should be eliminated. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Continue Eliminate Net Income Increase (Decrease) Sales $enter sales in dollars $enter sales in dollars $enter sales in dollars Variable costs enter variable costs in dollars enter variable costs in dollars enter variable costs in dollars Contribution margin enter a subtotal of the two previous amounts enter a subtotal of the two previous amounts enter a subtotal of the two previous amounts Fixed costs enter fixed costs in dollars enter fixed costs in dollars enter fixed costs in dollars Net Income / (Loss) $enter net income or loss in dollars $enter net income or loss in dollars $enter net income or loss in dollars The Big Bart product line should be
Answer:
The Big Bart product line should be retained
Explanation:
Continue Eliminate Net Income
Sales $201,000 $0 -$201,000
Variable costs $175,000 $0 $175,000
Contribution margin $26,000 $0 -$26,000
Fixed costs $29,800 $19,700 $10,100
Net Income / (Loss) -$3,800 -$19,700 -$15,900
Conclusion; The Big Bart product line should be retained, not eliminated because the Net loss of been eliminated is very negative than to be retained.
Flyaway Travel Company reported net income for 2021 in the amount of $110,000. During 2021, Flyaway declared and paid $4,125 in cash dividends on its nonconvertible preferred stock. Flyaway also paid $30,000 cash dividends on its common stock. Flyaway had 60,000 common shares outstanding from January 1 until 30,000 new shares were sold for cash on April 1, 2021. What is 2021 basic earnings per share
Answer:
See below
Explanation:
Rand Company had May operations as follows. Units actually produced 76,000 Actual direct labor hours worked 160,000 Actual variable overhead incurred $500,000 Actual fixed overhead incurred 384,000
Based on monthly normal volume of 100,000 units (200,000 direct labor hours), Rand's standard cost system contains the following overhead costs:
Variable $6 per unit
Fixed 4 per unit
The unfavorable variable overhead spending variance was:_________
A. 12,000
B. 20,000
C. 24,000
D. 44,000
Answer:
B. 20,000
Explanation:
Standard Variable overhead rate = $6 per units / 2 direct labour hour
Standard Variable overhead rate = $3 per hour
Variable Overhead Spending Variance = Actual hours worked * (Actual overhead rate - Standard overhead rate)
Variable overhead spending variance = 160,000 * (3.125 -3)
Variable overhead spending variance = 160000*0.875
Variable overhead spending variance = 20,000
Weekly demand for tennis balls at The Racquet Club is normally distributed , with a mean of 35 cases and a standard deviation of 5 cases . The club gets a profit of $ 50 per case (a ) Simulate 52 weeks of demand and calculate the average weekly profit. Make all demand values integers in your model . (b ) What is the probability that weekly profit will be \$2,00 or more ?
Answer:
a-The average weekly profit is $1767.31
b- The probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.
Explanation:
a
The weekly average profit for the simulation is given where first the values are simulated using R which is given as below:
x<-round(rnorm(n,m,s))
Here
round converts all the values of the simlation to integer.rnorm is the command for simulationn is the number of values which is 52 in this casem is the mean of the values which is 35s is the value of standard deviation which is 5 cases.The values of x are as follows
[1] 36 49 30 29 34 36 32 28 32 29 32 27 40 32 30 37 43 30 42 30 31 34 36 38 28 29 32 42 36 35
[31] 37 41 34 39 37 46 34 44 45 41 41 29 36 38 35 32 36 39 30 38 40 27
Now using these values, the average of the simulation values is cacluated as follows:
mean(x)
35.3462
Now using this with the value of profit of $50 gives:
Average Profit=$50 x 35.3462
Average Profit=$1767.31
The average weekly profit is $1767.31
b-
First number of cases are required so that the value will be greater than 2000 it is given as
Number of cases=2000/50=40
So firstly the Z-score is calculated which is as below:
[tex]Z=\dfrac{x-\mu}{\sigma}\\Z=\dfrac{40-35}{5}\\Z=1[/tex]
Now the probability is given as
[tex]P(X\geq 40)=P(Z\geq 1)\\P(X\geq 40)=1-P(Z< 1)[/tex]
The value of P(Z<1) is calculated from the table which is given as
0.84134
So the equation becomes
[tex]P(X\geq 40)=1-P(Z< 1)\\P(X\geq 40)=1-0.8413\\P(X\geq 40)=0.1587[/tex]
So the probability of having a weekly profit of more than 2000 is 0.1587 or 15.87%.