Answer:
Ace Guitar Company
The service departments' expenses proportional to the sales of each region are as follows:
A Region = $216,580
B Region = $116,620
Explanation:
a) Data and Calculations:
A Region B Region Total
Sales $773,500 $416,500 $1,190,000
Cost of goods sold 293,900 158,300 452,200
Selling expenses 185,600 100,000 285,600
Service department expenses
Purchasing $199,900
Payroll accounting 133,300
Total $333,200
A Region = $216,580 ($773,500 / $1,190,000 * $333,200)
B Region = $116,620 ($416,500 / $1,190,000 * $333,200)
Paragraph on your bedroom
Answer:
My room is a place where I feel the most comfortable and openly show my personality to myself. This is the place where I do what I want to do and it is the place where I disembark myself when I come home and wake up every day. My room makes me feel very comfortable in my own space so my house is always crazy as my dog barking and siblings moving around making noise around the house. I care about everyone in my home.
Please mark as brainliest if answer is right
Have a great day, be safe and healthy
Thank u
XD
According to Orlando:_____.
(a) workers have obligations to, but are owed consideration by, their employers.
(b) workers are subject to the legitimate expectations of their employers but employers are not subject to any legitimate expectations of workers.
(c) all of the above.
(d) none of the above.
Answer:
According to Orlando:_____.
(a) workers have obligations to, but are owed consideration by, their employers.
Explanation:
Workers are employed by their employers to carry out their obligations as per instruction. They owe the duty of reasonable care to their employers. They are supposed to be honest in their dealings with their employers. Workers are also required to take safety and health measures to protect themselves and others from harm at the workplace. For all these obligations, the employers of labor must pay adequate consideration to their workers and ensure their safety at work.
Which statement is FALSE?
Management stages are:
A
Collections of activities and products whose delivery is managed as a unit
B
The element of work which the Project Manager is managing on behalf of the Project
Board at any one time
Partitions of the project with decision points
D
The amount of work defined in a work package
Answer:BB
Explanation:b
Omicron Technologies has $50 million in excess cash and no debt. The firm expects to generate additional free cash flows of $40 million per year in subsequent years and will pay out these future free cash flows as regular dividends. Omicron's unlevered cost of capital is 8% and there are 10 million shares outstanding. Omicron's board is meeting to decide whether to pay out its $50 million in excess cash as a special dividend or to use it to repurchase shares of the firm's stock. Assume that Omicron uses the entire $50 million to repurchase shares. The number of shares that Omicron will repurchase is closest to:_____
Answer:
Omicron Technologies
The number of shares that Omicron will repurchase is closest to:_____
1,000,000 shares.
Explanation:
Excess cash = $50 million
Free cash flows in subsequent years = $40 million per year
Dividends payment in most recent year = $40 million
Unlevered cost of capital = 8%
Outstanding common stock = 10 million shares
Dividend per share = $4 ($40,000,000/10,000,000)
Share price = dividend per share/unlevered cost of capital
= $50 ($4/0.08)
Number of shares to repurchase = $50,000,000/$50
= 1,000,000 shares
Financial Statements from the End-of-Period Spreadsheet
Triton Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepared for the year ended April 30, 20Y3:
During the year ended April 30, 20Y3, common stock of $5,000 was issued.
Triton Consulting
End-of-Period Spreadsheet
For the Year Ended April 30, 20Y3
Unadjusted Adjusted
Trial Balance Adjustments Trial Balance
Account Title Dr. Cr. Dr. Cr. Dr. Cr.
Cash 21,500 21,500
Accounts Receivable 51,150 51,150
Supplies 2,400 1,650 750
Office Equipment 32,000 32,000
Accumulated Depreciation 4,500 900 5,400
Accounts Payable 3,350 3,350
Salaries Payable 2,000 2,000
Common Stock 20,000 20,000
Retained Earnings 52,200 52,200
Dividends 10,000 10,000
Fees Earned 279,000 279,000
Salary Expense 240,000 2,000 242,000
Supplies Expense 1,650 1,650
Depreciation Expense 900 900
Miscellaneous Expense 2,000 2,000
359,050 359,050 4,550 4,550 361,950 361,950
Based on the preceding spreadsheet, prepare an income statement for Triton Consulting.
Triton Consulting Income Statement For the Year Ended April 30, 20Y3 Fees earned Expenses: Salary expense Supplies expense Depreciation expense v Miscellaneous expense / Total expenses Net income / Triton Consulting Balance Sheet April 30, 20Y3 Assets Current assets: Cash $4 Accounts receivable v Supplies Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: $ Total liabilities Stockholders' Equity $4 Total stockholders' equity Total liabilities and stockholders' equity
Answer: See explanation
Explanation:
Triton Consulting Income Statement For the Year Ended April 30, 20Y3:
Fees earned 279000
Less: Expenses:
Salary expenses = 242000
Supplies expenses 1650
Depreciation expense. 900
Miscellaneous expenses 2000
Total expense = 246550
Net income 32450
Triton Consulting Balance Sheet April 30, 20Y3
Assets
Current assets
Cash 21500
Account receivable 51150
Supplies 750
Total current asset = 73400
Property, plant and equipments
Office equipment 32000
Accumulated Depreciation 5400
Total property,plant and equipment = 26600
Total asset = 100,000
Liabilities
Current liabilities:
Account payable: 3350
Salary payable: 2000
Total liabilities = 5350
Stockholders equity
Common stock 20000
Retained earnings 74650
Total stockholders equity = 94650
Total liability and stockholders equity = 100,000
A firm is considering an investment into a new technology that would lower costs and increase their profits over the foreseeable future. The technology costs $1 million today and will increase profits by $100 thousand per year. What is the minimum annual discount factor in which the firm is willing to make the investment?
a. 0.95
b. 0.8
c. 0.9
d. 0.7
Answer: C. 0.9
Explanation:
From the question, we are given the information that the firm is investing $1 million and it's increasing profit by $100 thousand for every year, the return gotten will be:
= (100000/1000000 × 100)
= 0.1 × 100
= 10%
The discounting factor will be:
= 1 / (1 + interest rate)
= 1 / (1 + 0.1)
= 1 / 1.1
= 0.9
Therefore, the minimum annual discount factor in which the firm is willing to make the investment is 0.90.
If anyone knows about businesses can you help me please
Answer:
I believe it is team standard
Explanation:
One way a group of people can become an effective team is to create team standards. These are essentially the rules that govern how the team works and behaves. To be effective, the team standards need to be set and agreed to by the team members and not dictated to them by a boss or manager.
The table shows an indifference schedule for several combinations of x and y. Approximately how much of y is the consumer willing to give up to obtain the sixteenth unit of x
Which of the following is a characteristic of a corporation?
Shareholders are generally not personally liable for the business's obligations
and liabilities.
The corporation must have an elected board of directors.
The corporation is a separate taxable entity from its owners.
All of these answers
Cone Corporation is in the process of preparing its December 31, 2021, balance sheet. There are some questions as to the proper classification of the following items: $50,000 in cash restricted in a savings account to pay bonds payable. The bonds mature in 2025. Prepaid rent of $24,000, covering the period January 1, 2022, through December 31, 2023. Notes payable of $200,000. The notes are payable in annual installments of $20,000 each, with the first installment payable on March 1, 2022. Accrued interest payable of $12,000 related to the notes payable. Investment in equity securities of other corporations, $80,000. Cone intends to sell one-half of the securities in 2022.
Required:
Prepare a partial classified balance sheet to show how each of the above items should be reported.
Answer:
Cone Corporation
Proper Classification of Items in the Balance Sheet:
CONE CORPORATION
Partial Classified Balance Sheet as of December 31, 2021:
Assets
Current assets:
Prepaid Rent $8,000
Short-term investments $40,000
Long-term assets:
Restricted cash for bonds $50,000
Prepaid Rent $16,000
Long-term investment $40,000
Current liabilities:
Notes payable $20,000
Accrued interest payable $12,000
Long-term liabilities:
Notes payable $180,000
Explanation:
a) Data and Analysis:
Long-term assets:
Restricted cash for bonds payable $50,000
Prepaid Rent $16,000
Long-term investment $40,000
Bonds payable maturity date = 2025
Prepaid Rent for 3 years:
Current assets:
Prepaid Rent $8,000
Short-term investments $40,000
Current liabilities:
Notes payable $20,000
Accrued interest payable $12,000
Long-term liabilities:
Notes payable $180,000
Pollution control equipment for a pulverized coal cyclone furnace is estimated to cost $190,000 two years from now and an additional $120,000 four years from now. If Monongahela Power wants to set aside enough money now to cover these future costs, how much must be invested at an interest rate of 8% per year, compounded semiannually
Answer: $250,096
Explanation:
To find out the amount that should be invested today, one should find the present values of both figures and add them up:
Interest rate should be periodically adjusted so: 8% / 2 = 4% per semi annum
No of periods should be adjusted as well.
Amount to be invested today:
[tex]= \frac{190,000}{(1 + 0.04)^{2 * 2 periods} } + \frac{120,000}{(1 + 0.04)^{4 * 2 periods} }\\\\= \frac{190,000}{(1 + 0.04)^{4} } + \frac{120,000}{(1 + 0.04)^{8} }\\\\= 250,095.62[/tex]
= $250,096
On Thursday, Justin flies from Baltimore (where the office for his sole proprietorship is located) to Cadiz (Spain). He conducts business on Friday and Tuesday; vacations on Saturday, Sunday, and Monday (a legal holiday in Spain); and returns to Baltimore on Thursday. Justin was scheduled to return home on Wednesday, but all flights were canceled due to bad weather. As a result, he spent Wednesday watching floor shows at a local casino.
a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
b. Suppose Monday was not a legal holiday. Would this change your answer in (a)? Explain.
c. Under either (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
Answer:
a. For tax purposes, what portion of Justin’s trip is regarded as being for business?
The whole trip is considered a business trip because Justin started working before the weekend and continued to work after the holiday was over. He is not responsible for bad weather conditions.
b. Suppose Monday was not a legal holiday. Would this change your answer in (a)? Explain.
Yes, it would make a difference since a legal holiday counts as a labor day, so Justin legally worked immediately after the weekend, but if Monday wasn't a holiday and he got back to work on Tuesday, then he couldn't consider Saturday, Sunday nor Monday as business days.
c. Under either (a) or (b), how much of Justin’s airfare qualifies as a deductible business expense?
the airfare is 100% deductible under any scenario
The portion of Justin’s trip that is regarded as being for business is the whole trip.
It should be noted that the whole trip is considered a business trip due to the fact that Justin started working before the weekend and continued to work after the holiday was over. If Monday was not a legal holiday, it'll make a difference since a legal holiday counts as a labor day, so Justin legally worked immediately after the weekend.Under either (a) or (b), the amount of Justin’s airfare that qualifies as a deductible business expense is the whole amount which is 100% of the amount.Read related link on:
https://brainly.com/question/15186716
Enciso Corporation is preparing its cash budget for November. The budgeted beginning cash balance is $31,000. Budgeted cash receipts total $135,000 and budgeted cash disbursements total $141,000. The desired ending cash balance is $50,000. The company can borrow up to $100,000 at any time from a local bank, with interest not due until the following month.
Prepare the company's cash budget for November in good form.
Answer:
See below
Explanation:
ENCISCO Corporation.
Cash budget as of November
Beginning cash balance
$31,000
Add:
Budgeted cash receipt
$135,000
Total cash available for use
$166,000
Less
Cash disbursements
($141,000)
Cash surplus
$25,000
Financing:
Borrowing
$25,000
Budgeted ending cash balance
$50,000
Therefore, the company's budgeted cash surplus for November is $25,000. Also, ENCISCO Corporation should borrow $25,000 in order to achieve budgeted cash balance of $50,000
During 2020, Lincoln Company hires seven individuals who are certified to be members of a qualifying targeted group. Each employee works in excess of 600 hours and is paid wages of $7,500 during the year. Lincoln Company's work opportunity credit is $________.
Answer:
$16,800
Explanation:
Calculation to determine what Lincoln Company's work opportunity credit is
Work opportunity credit= $6,000 * .40 *7
Work opportunity credit = $16,800
Therefore Lincoln Company's work opportunity credit is $16,800
Which of the following constraints correctly describe this requirement: The management also requires produce at least one kg of product 2 (denoted by X2) for every five kgs of product 1 (denoted by X1).
a. 5X1 + X 2 ≥ 0
b. X1 + 5 X 2 ≥ 0
c. X1 + 5 X 2 ≤ 0
Answer:
a. 5X1 + X 2 ≥ 0
Explanation:
Product 2 = X2
Product 1 = X1
Mass in kg of product (X1) = 5
Mass in kg of product (X2) ≥ 1 (atleast 1 kg)
Combining these Constraint :
For every 5kg of X1 ; X2 ≥ = 1
Hence ;
5X1 + X2 ≥ 0
The following information is available for Blue Spruce Corp. for 2021:
Net Income $117,000
Realized gain on sale of available-for-sale debt securities 11,000
Unrealized holding gain arising during the period on available-for-sale debt securities 34,000
Reclassification adjustment for gains included in net income 7,500
Determine other comprehensive income for 2021.
Other comprehensive income $
Compute comprehensive income for 2021.
Comprehensive income
Answer:
Other Comprehensive income = $37,500Comprehensive income = $154,500Explanation:
Other comprehensive income:
= Realized gain on sale of available-for-sale debt securities + Unrealized holding gain arising during the period on available-for-sale debt securities - Reclassification adjustment for gains included in net income
= 11,000 + 34,000 - 7,500
= $37,500
Comprehensive income = Net income + Other comprehensive income
= 117,000 + 37,500
= $154,500
A worthless security had a holding period of six months when it became worthless on December 10, 2020. The investor who had owned the security had a basis of $20,000 for it. Which of the following statements is correct?
a. The investor has a long-term capital loss of $20,000.
b. The investor has a short-term capital loss of $20,000.
c. The investor has a nondeductible loss of $20,000.
d. The investor has a short-term capital gain of $20,000.
Answer: B. The investor has a short-term capital loss of $20,000.
Explanation:
A short-term loss occurs when a deficit is realized when there's a sale of an asset which has been held by the person for a period of one year or less.
In this case, since the security was worthless, it's a loss and was also help for six months which is less than one year, then it's a short term capital loss.
Therefore, the correct option is B
Your boss is considering a 5-year investment project. If the project is accepted, it would require an immediate spending of $678 to buy all necessary production equipment. This equipment would be sold at the end of the project and bring your company estimated $144 in sale proceeds after taxes (or after-tax salvage value). Your boss's consulting team estimated that the annual after-tax profits (or operating cash flows) would equal $173. The team also recommends immediately setting aside $58 in cash to cover any unforeseen expenses. The required annual rate of return is 8.1%.
Calculate the Net Present Value of this proposed investment project. (Do NOT use "S" in your answer. Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your answer to TWO decimal places. For example, 1,000,23 or -1,000.23) Focus E- 17 786 words English (United States)
Answer:
$50.47
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 = - ($678 + $58 ) = -736
Cash flow in year 1 - 4 = $173
Cash flow in year 5 = $173 + $144
I = 8.1
NPV = 50.47
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
A company manufactures various-sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $55 per unit (100 bottles), including fixed costs of $12 per unit. A proposal is offered to purchase small bottles from an outside source for $36 per unit, plus $3 per unit for freight.
Required:
Prepare a differential analysis dated January 25 to determine whether the company should make (Alternative 1) or buy (Alternative 2) the bottles, assuming fixed costs are unaffected by the decision.
Answer:
Differential Analysis on January 25:
Make Buy Difference
Alternative 1 Alternative 2
Avoidable costs $43 $39 $4
per unit of (100 bottles)
Explanation:
a) Data and Calculations:
Variable manufacturing cost per unit = $43 ($55 - $12)
Fixed manufacturing cost per unit = 12
Total manufacturing cost per unit = $55
Outside supplier's offered price per unit = $36
Freight per unit for outside supply = 3
Total outside supply cost per unit = $39
b) There is an additional avoidable cost of $4 per unit to make the bottles. From a financial point of view, it will be cost-effective to buy the bottles from the outside supplier. If the company finds an alternative use of the production facilities, the cost difference will increase.
On January 2, 2021, the Jackson Company purchased equipment to be used in its manufacturing process. The equipment has an estimated life of eight years and an estimated residual value of $55,000. The expenditures made to acquire the asset were as follows:
Purchase price $236,500
Freight charges 8,000
Installation charges 11,500
Jackson's policy is to use the double-declining-balance (DDB) method of depreciation in the early years of the equipment's life and then switch to straight line halfway through the equipment's life.
Required:
Calculate depreciation for each year of the asset's eight-year life.
Answer:
2021
Depreciation expense = $64,000
2022
Depreciation expense = $48,000
2023
Depreciation expense = $52,000
2024
Depreciation expense = $51,000
2025
Depreciation expense = $10,250
2026
Depreciation expense = $10,250
2027
Depreciation expense = $10,250
2028
Depreciation expense = $10,250
Explanation:
Depreciation Charge using the double-declining-balance (DDB) method is determined as follows :
Depreciation Charge = 2 x SLDP x BVSLDP
where,
SLDP = 100 ÷ Number of useful life
= 100 ÷ 8
= 12.5 %
and
BVSLDP = cost (in first year) and Book Value thereafter.
therefore,
2021
Depreciation expense = 2 x 12.5 % x $256,000 = $64,000
2022
Depreciation expense = 2 x 12.5 % x ($256,000 - $64,000) = $48,000
2023
Depreciation expense = 2 x 12.5 % x ($256,000 - $48,000) = $52,000
2024
Depreciation expense = 2 x 12.5 % x ($256,000 - $52,000) = $51,000
Now from 2024 we have to switch to straight line method
With Straight Line Method, we charge a fixed amount of depreciation using the formula :
Depreciation expense = (Cost - Residual Value) ÷ Remaining Useful life
But since we have provided for depreciation expenses before, we have to reduce the cost by $215,000 (accumulated depreciation to date). Also we reduce the remaining useful life by the years expired to 4 years.
2025
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2026
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2027
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
2028
Depreciation expense = ($256,000 - $215,000) ÷ 4 = $10,250
Suppose a firm wants to maintain a specific TIE ratio. It knows the amount of its debt, the interest rate on that debt, the applicable tax rate, and its operating costs. With this information, the firm can calculate the amount of sales required to achieve its target TIE ratio.
a. True
b. False
Answer:
a. True
Explanation:
TIE means times interest earned, whose formula is provided below:
Times interest earned=EBIT/interest expense
With the above formula, we can determine the EBIT (earnings before interest and tax)
Depending on the company's cost structure, when the operating costs are added to EBIT, the result would be the company's sales revenue
EBIT=Sales revenue-operating costs
Sales revenue=EBIT+operating costs
The following selected account balances appeared on the financial statements of Washington Company:
Accounts Receivable, January 1 $16,209
Accounts Receivable, December 31 6,108
Accounts Payable, January 1 4,533
Accounts Payable, December 31 8,086
Merchandise Inventory, January 1 7,281
Merchandise Inventory, December 31 13,264
Sales 62,595
Cost of Merchandise Sold 32,767
Washington Company uses the direct method to calculate net cash flow from operating activities. Cash collections from customers were
a. $52,494
b. $62,595
c. $85,315
d. $72,696
Answer: $72,696
Explanation:
Cash collections from customers = Sales + Decrease in Accounts Receivable:
= 62,595 + (16,209 - 6,108)
= $72,696
Sales represents cash sales and decrease in accounts receivable will represent the amount collected from the debtors.
On October 1, 2021, Sonoma Company leased equipment from Napa Inc. in lease payable in five equal annual payments of $540,000, beginning Oct 1, 2022. Similar transactions have carried an 11% interest rate. The right-of-use asset would be recorded at:________ (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)
Answer:
$1,995,786
Explanation:
Calculation to determine what The right-of-use asset would be recorded at:
Using this formula
Right-of-use asset=Annual payments*PV ordinary annuity
Where,
Annual payments=$540,000
PV ordinary annuity of $1: n = 5; i = 11%=3.69590
Let plug in the formula
Right-of-use asset= $540,000 × 3.69590
Right-of-use asset = $1,995,786
Therefore The right-of-use asset would be recorded at:$1,995,786
The Industrial Revolution focused on what?
Trego Company issued, payable on December 31, 2015, $10,000 face value, 8%, 4-year bonds. Interest will be paid annually each December 31. Market interest rate on similar bonds is 6%. Trego uses the effective interest rate method of amortizing bond discount or premium. (PV of annuity; n; n=4;i=6%)=3.46511 (PV; n=4;i=6%)=0.79209 What is the issuing price?
a. $9,503.
b. $10,735.
c. $10,693.
d. $9,603.
Answer: $10693
Explanation:
The issuing price can.wb calculated thus:
Firstly, we'll calculate the annual interest which will be:
= $10000 × 8%
= $800
The present value of the interest will be:
= 800 × pvifa (6%,4yrs)
= 800 × 3.46511
= 2772.09
Pv of face value will be:
= 1000 × pvif(6%,4yrs)
= 10000*0.79209
=7920.90
Therefore, the issuing price will be:
= PV of interest + present value of face value
= 2772.09 + 7920.90
= 10692.99
= $10693
Therefore, issuing price is $10693.
Santoyo Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Hours Wait time 28.0 Process time 1.0 Inspection time 0.4 Move time 3.2 Queue time 5.1 The delivery cycle time was: (Round your intermediate calculations to 1 decimal place.) Multiple Choice 36.3 hours 8.3 hours 37.7 hours 3.2 hours
Answer:
37.7 hours
Explanation:
Calculation to determine what The delivery cycle time was:
Using this formula
Delivery cycle time=Wait time +Throughput time
Where,
Wait time=28.0
Throughput time=Process time 1.0+ Inspection time 0.4+ Move time 3.2 +Queue time 5.1=9.7
Let plug in the formula
Delivery cycle time=28.0+9.7
Delivery cycle time=37.7
Therefore Delivery cycle time was 37.7
Purchasing power parity does not hold in the short to medium run because:____.
Answer:
some goods aren't internationally traded
Explanation:
Purchasing power parity is most popularly known as the PPP. It may be defined as the measure of the prices of the various countries which makes use of the price of some specific goods in order to compare the absolute purchasing capability or power for the countries' currencies.
It is used to measure and compare prices at different locations.
The purchasing power does not hold good in the short to the medium run as different countries produces different goods and as such all the goods are not internally traded all over the locations or countries.
Cutter Enterprises purchased equipment for 60,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $3,900. Using the double-declining-balance method, the book value at December 31, 2022, would be:____.
a. $15,500.
b. $15,980.
c. $18,380.
d. $27,900.
Answer:
$21,600
Explanation:
The expected life of the equipment is 5 years
Double-declining-balance rate = (1/5) *2 = 40%
Depreciation for 2021 = $60,000*40% = $24,000
Book Value at Dec 31, 2021 = $60,000 - $24,000
Book Value at Dec 31, 2021 = $36,000
Depreciation for 2022 = $36,000*40% = $14,400
Book Value at Dec 31, 2021 = $36,000 - $14,400
Book Value at Dec 31, 2021 = $21,600
Using the double-declining-balance method, the book value at December 31, 2022, would be $21,600.
Based on the following, what are the conversion costs for the month of June? No work in process at the beginning of June. They added 12,000 units of direct materials during June at a cost of $84,000 9,000 units were completed during June 3,000 units were 30% completed as to labor and overhead at the end June. All materials are added at the beginning of the process. For the month of June, direct labor was $49,500 and factory overhead was:_______.
a. $9,900.
b. $9,900
c. $59,400
d. $49,500
e. $143,400
Answer:
c. $59,400
Explanation:
Complete word "All materials are added at the beginning of the process. For the month of June, direct labor was $49,500 and factory overhead was $9,900. The total conversion costs for the period is?"
Conversion Cost = Direct Labor + Factory Overhead
Conversion Cost = $49,500 + $9,900
Conversion Cost = $59,400
Santeria Trading Inc. has manipulated its accounts to inflate its expenditure so it is subject to fewer taxes than it would have to pay
otherwise. Which element of the internal accounting control does Santeria fail to comply with?
OA
policies
OB
monitoring
Oc.
accounting system
OD.
risk assessment
ОЕ.
environmental control
Answer:
environmental control
Explanation:
Control environment refers to the company's attitude towards internal control. In this case, the company is manipulating its accounts on purpose, meaning that the whole attitude is to not follow internal control procedures. Sometimes companies forge financial records for different reasons and several employees and management collude in order to do it. An example is Enron, where even the auditing firm knew about the irregularities in Enron but decided to help them hide them.