Answer:
Following are the responses to the given question:
Explanation:
Using formula:
[tex]Mean=\Sigma x \times P(x)\\\\Variance=\Sigma (x-\mu)^2 \times P(x)\\\\Standard \ Deviation=\sqrt{Variance}[/tex]
[tex]x\ \ \ \ \ \ \ P(x)\ \ \ \ \ \ \ x\times P(x)\ \ \ \ \ \ \ (x-\mu)^2\times P(x)\\\\480\ \ \ \ \ \ \ 0.02\ \ \ \ \ \ \ 9.6\ \ \ \ \ \ \ 72.9632\\\\490\ \ \ \ \ \ \ 0.05\ \ \ \ \ \ \ 24.5\ \ \ \ \ \ \ 127.008\\\\500\ \ \ \ \ \ \ 0.14\ \ \ \ \ \ \ 70\ \ \ \ \ \ \ 228.5024\\\\510\ \ \ \ \ \ \ 0.16\ \ \ \ \ \ \ 81.6\ \ \ \ \ \ \ 147.8656\\\\520\ \ \ \ \ \ \ 0.14\ \ \ \ \ \ \ 72.8\ \ \ \ \ \ \ 58.2624\\\\550\ \ \ \ \ \ \ 0.18\ \ \ \ \ \ \ 99\ \ \ \ \ \ \ 16.5888\\\\[/tex]
[tex]580\ \ \ \ \ \ \ 0.18\ \ \ \ \ \ \ 104.4\ \ \ \ \ \ \ 282.2688\\\\600\ \ \ \ \ \ \ 0.12\ \ \ \ \ \ \ 72\ \ \ \ \ \ \ 426.2592\\\\650\ \ \ \ \ \ \ 0.01\ \ \ \ \ \ \ 6.5\ \ \ \ \ \ \ 120.1216\\\\[/tex]
[tex]Total\ \ \ \ \ \ \ \ \ \ 540.4 \ \ \ \ \ \ \ \ \ \ 1479.84\\\\Mean \ \ \ \ \ \ \ \ \ \ 540.4 \ \ \ \ \ \ \ \ \ \ dollars\\\\Variance \ \ \ \ \ \ \ 1479.84 \ \ \ \ \ \ \ \ dollars^2\\\\St \ Dev \ \ \ \ \ \ \ \ \ \ 38 \ \ \ \ \ \ \ \ \ \ dollars[/tex]
Andermeyer Jewelers, which specializes in high-end jewelry, has been in existence since the 1870s and has served generations of wealthy families. Owned and managed by the Andermeyer family since its founding, it has never had more than 20 designers and jewelers in its shop. Andermeyer Jewelers should use the __________ structure.
Answer:
(A) simple
Explanation:
THIS IS THE OPTIONS FOR THE QUESTION BELOW
(A) simple
(B) functional
(C) matrix
(D) network
Ron the question, we are informed about the Andermeyer Jewelers, which specializes in high-end jewelry, has been in existence since the 1870s and has served generations of wealthy families. Owned and managed by the Andermeyer family since its founding, it has never had more than 20 designers and jewelers in its shop. In this case, Andermeyer Jewelers should use the simple structure. Some of the small businesses utilize a structure which is regarded as simple organizational structure, Simple structure can be regarded as basic organizational design structure having low departmentalization,wide spans of control, as well as little work specialization and centralized authority. In this structure most power belongs to the owner of the business. Here layers of department are absent.
Personal branding involves ________.
Answer:
Personal Branding. the practice of people marketing themselves and their careers as brands.
Carlton Office Systems Inc. needs to improve overall organizational efficiency. To accomplish this, the company has implemented a complete redesign of all business systems and reporting hierarchies. During this process, significant cuts were made in middle management staff. What organizational trend is taking place at this company
Answer:
Reengineering
Explanation:
Reengineering means to redesign the process of the business i.e. systems & organization structure so that the dramatic business performance could be accomplished
Since in the question it is given that company wants to improve its organizational efficiency and for this they have to implement the redesigning of the business system and reporting hierarchies so here the trend would be reengineering
Jenny has a $82,500 basis in her 50 percent partnership interest in the JM Partnership before receiving any distributions. This year JM makes a proportionate operating distribution to Jenny of a parcel of land with an $110,000 fair value and a $89,700 basis to JM. The land is encumbered with a $42,850 mortgage (JM's only liability). What is Jenny's basis in the land and her remaining basis in JM after the distribution
Answer:
$89,700 land basis, $14,225 JM basis.
Explanation:
Calculation to determine Jenny's basis in the land and her remaining basis in JM after the distribution
Based on the information given her basis in the land equal to the amount of $89,700 while are remaining basis in JM is the amount of $14,225, Calculated as:
Predistribution basis in JM $82,500
Add deemed contribution $21,425
(50%*$42,850)
Less: basis allocated to land ($89,700)
Remaining basis in JM $14,225
Therefore her basis in the land and her remaining basis in JM after the distribution are:
$89,700 land basis, $14,225 JM basis.
Consider the following information.
First Quarter Second Quarter
Unit Selling Price $15.00 $17.00
Total Units Sold 12,000 11,500
Labor Hours 10,000 9,500
Labor Cost/Hour $9.00 $10.00
Material Usage (lbs.) 5,000 7,500
Material Cost/lb. $12.00 $10.50
Other Costs $25,000 $30,000
a. Which quarter, first or second, had the higher labor productivity (output quantity per labor dollar input)?
b. Which quarter, first or second, had the higher material productivity (output quantity per material dollar input)?
c. Which quarter, first or second, had the higher total productivity (dollar output per total dollar input)?
Answer:
okay im going to try my best to help you with this question
one with hire labor production i think its the first quarter
the second quarter had the higher material
the second quarter had the higer productivity
i hope i didnt give you the wrong answers
Explanation:
The most profitable form of business is
A Sole proprietorships
B General partnerships
C Limited partnerships
D Corporations
Answer:
d
Explanation:
Apple Inc. is the number one online music retailer through its iTunes music store. Apple sells iTunes gift cards in $15, $25, and $50 increments. Assume Apple sells $20.0 million in iTunes gift cards in November, and customers redeem $13.0 million of the gift cards in December.
8.
value:
10.00 points
Required information
Required:
1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in dollars, not in millions (i.e. 5.5 should be entered as 5,500,000).)
9-
3. What is the ending balance in the Deferred revenue account? (Enter your answer in dollars, not in millions. (i.e. 5.5 should be entered as 5,500,000).)
Answer:
1. & 2. Nov 30
Dr Cash $20.0 million
Cr Deferred Revenue $20.0 million
(To record the cash received for gift cards)
Dec 31
Dr Deferred Revenue $13.0 million
Cr Sales Revenue $13.0 million
3. $7,000,000
Explanation:
1. & 2. Preparation of the necessary journal entries
APPLE INC.
Journal Entries
Nov 30
Dr Cash $20.0 million
Cr Deferred Revenue $20.0 million
(To record the cash received for gift cards)
Dec 31
Dr Deferred Revenue $13.0 million
Cr Sales Revenue $13.0 million
(To record the redemption of gift cards)
3) Calculation to determine the ending balance in the Deferred revenue account
Ending Balance in Deferred revenue = $20.0 million - $13.0 million
Ending Balance in Deferred revenue= $7,000,000
Therefore ending balance in deferred revenue account is $7,000,000
Two years ago, Kimberly became a 30 percent partner in the KST Partnership with a contribution of investment land with a $14,750 basis and a $22,650 fair market value. On January 2 of this year, Kimberly has a $20,700 basis in her partnership interest, and none of her pre-contribution gain has been recognized. On January 2 Kimberly receives an operating distribution of a tract of land (not the contributed land) with a $18,175 basis and an $26,075 fair market value.
a) What is the amount and character of Kimberly’s recognized gain or loss on the distribution?
b) What is Kimberly’s remaining basis in KST after the distribution?
c) What is KST’s basis in the land Kimberly contributed after Kimberly receives this distribution?
Answer: A) $3,425 B)$5,950 C)$18,175
Explanation:
a)Kimberly's capital gain = land's Fair market value -non contributed land's Fair market value = $26,075- $22,650= $3,425
b)Kimberly's basis after the distribution = basis in KST + gain - Carryover basis in land = $20,700 + $3, 425 - $18,175 = $5,950
c) KST's basis on the land =KST land's basis on contribution+ Kimberly's gain = $14,750+$3, 425 = $18,175
At the beginning of 2021, Terra Lumber Company purchased a timber tract from Boise Cantor for $3,510,000. After the timber is cleared, the land will have a residual value of $720,000. Roads to enable logging operations were constructed and completed on March 30, 2021. The cost of the roads, which have no residual value and no alternative use after the tract is cleared, was $279,000. During 2021, Terra logged 620,000 of the estimated 6.2 million board feet of timber.Required:Calculate the 2021 depletion of the timber tract and depreciation of the logging roads assuming the units-of-production method is used for both assets. (Do not round intermediate calculations. Enter values in whole dollars.)
Answer:
A. $279,000
B. $27,900
Explanation:
A. Calculation for 2021 depletion of the timber tract
2021 Depletion=[($3,510,000 - $720,000) / 6.2 million] *$620,000
2021 Depletion=0.45x 620,000
2021 Depletion= $279,000
Therefore 2021 depletion of the timber tract is $279,000
B. Calculation to determine the depreciation of the logging roads
Depreciation=($279,000 / 6.2 million)*$620,000 Depreciation= 0.073*$620,000
Depreciation= $27,900
Therefore the depreciation of the logging roads is $27,900
Free Flight Corporation, located in Denver, Colorado, produces bicycle accessories, including bicycle helmets which requires a rigid, crushable foam. During the quarter ending June 30, the company manufactured 3,800 helmets, using 2,736 kilograms of foam. The foam cost the company $18,058. According to the standard cost card, each helmet should require 0.66 kilograms of foam, at a cost of $7.00 per kilogram.
Required:
1. What is the standard quantity of kilograms of foam (SQ) that is allowed to make 3,800 helmets?
2. What is the standard materials cost allowed (SQ * SP) to make 3,800 helmets?
3. What is the materials spending variance?
4. What is the materials price variance and the materials quantity variance?
(For requirements 3 and 4, indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). Input all amounts as positive values. Do not round intermediate calculations.)
1. Standard quantity of kilograms allowed
2. Standard cost allowed for actual output
3. Materials spending variance
4. Materials price variance
Materials quantity variance
Answer:
1. Standard quantity of kilograms allowed 2508kg
2. Standard cost allowed for actual output $17,556
3. Materials spending variance $502 Unfavorable
4. Materials price variance $1094Favorable
Materials quantity variance $1596 unfavorable
Explanation:
1. Calculation to determine the standard quantity of kilograms of foam
Standard quantity of kilograms allowed = 0.66*3800
Standard quantity of kilograms allowed =2508kg
2. Calculation to determine the standard materials cost allowed
Standard cost allowed for actual output = 2508kg *7
Standard cost allowed for actual output=$17,556
3. Calculation to determine the materials spending variance using this formula
Material spending variance = Standard cost - Actual cost
Let plug in the formula
Material spending variance= $17,556- $18,058
Material spending variance= $502 Unfavorable
4. Calculation to determine the materials price variance and the materials quantity variance
Material price variance = (7- $18,058/2,736)*2,736
Material price variance = $1094Favorable
Material quantity variance =(2508kg-2,736)*7
Material quantity variance= $1596 unfavorable
Therefore:
1. Standard quantity of kilograms allowed 2508kg
2. Standard cost allowed for actual output $17,556
3. Materials spending variance $502 Unfavorable
4. Materials price variance $1094Favorable
Materials quantity variance $1596 unfavorable
how personality affect on performance of company
Personality affects all aspects of a person's performance, even how he reacts to situations on the job. This can lead to increased productivity and job satisfaction, helping your business function more efficiently.
Answer:
Personality affects all aspects of a person's performance, even how he reacts to situations on the job. Not every personality is suited for every job position, so it's important to recognize personality traits and pair employees with the duties that fit their personalities the best. This can lead to increased productivity and job satisfaction, helping your organization to function more efficiently. Personality can be seen as the motor which drives behavior. It's consistent over time and across situations, and has been proven to predict our success at work over the course of 50 or more years. The most widely accepted model of personality-the 'Big Five' model-uses five distinct scales to describe personality: conscientiousness (the extent to which one is dependable and persistent), emotional stability(one's calmness and self-control), extraversion (a measure of sociability, ambition and narcissism), agreeableness (the extent to which one is cooperative and altruistic), and openness to experience (a measure of creativity and novelty-seeking) Personality Personality is so widely studied concept by the psychologists that "personality psychology" is taken as a separate discipline of psychology.
A process control system costs $200,000, has a three year service life, and a salvage value of $20,000. Find the depreciation and book value for all three years using each of the following methods: a. Straight line depreciation (20 points) b. Sum of year digits depreciation (20 points) c. Double declining balance depreciation (20 points)
Answer:
A.
Depreciation expense each of the three years would be $60,000
Book value at the end of year 1 = $140,000
Book value at the end of year 2 =$80,000
Book value at the end of year 3 = $20,000
B.
Depreciation expense in year 1 =$90,000
Depreciation expense in year 2 =$60,000
Depreciation expense in year 3 =$30,000
Book value at the end of year 1 =$110,000
Book value at the end of year 2 = $50,000
Book value at the end of year 3 = $20,000
C.
Depreciation expense in year 1 = $133,333.33
Book value at the end of year 1 = $66,666.67
Depreciation expense in year 2 = $44,444.45
Book value at the end of year 2 = $22,222.22
Depreciation expense in year 3 = $14,814.16
Book value at the end of year 3 = $7,407.40
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($200,000 - $20,000) / 3 = $60,000
Depreciation expense each of the three years would be $60,000
Book value at the end of year 1 = $200,000 - $60,000 = $140,000
Book value at the end of year 2 = $140,000 - $60,000 = $80,000
Book value at the end of year 3 = $80,000 - $60,000 = $20,000
Sum-of-the-year digits = (remaining useful life / sum of the years ) x (Cost of asset - Salvage value)
Sum of the years = 1 + 2 + 3 = 6 years
Depreciation expense in year 1 = (3/6) x ($200,000 - $20,000) = $90,000
Depreciation expense in year 2 = (2/6) x ($200,000 - $20,000) = $60,000
Depreciation expense in year 3 = (1/6) x ($200,000 - $20,000) = $30,000
Book value at the end of year 1 = $200,000 - $90,000 = $110,000
Book value at the end of year 2 = $110,000 - $60,000 = $50,000
Book value at the end of year 3 = $50,000 - $30,000 = $20,000
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life) = 2/3
Depreciation expense in year 1 = (2/3) x $200,000 = $133,333.33
Book value at the end of year 1 = $200,000 - $133,333.33 = $66,666.67
Depreciation expense in year 2 = (2/3) x $66,666.67 = $44,444.45
Book value at the end of year 2 = $66,666.67 - $44,444.45= $22,222.22
Depreciation expense in year 3 = (2/3) x$22,222.22 = $14,814.16
Book value at the end of year 3 =$22,222.22 - $14,814.16 = $7,407.40
S14-12 Book Value versus Market Value [LO3] Dinklage Corp. has 7 million shares of common stock outstanding. The current share price is $68, and the book value per share is $8. The company also has two bond issues outstanding. The first bond issue has a face value of $70 million, a coupon rate of 6 percent, and sells for 97 percent of par. The second issue has a face value of $40 million, a coupon rate of 6.5 percent, and sells for 108 percent of par. The first issue matures in 21 years, the second in 6 years. Both bonds make semiannual payments. a. What are the company's capital structure weights on a book value basis
Answer:
A. .6627
B. .1892
Explanation:
A. Calculation to determine the company's capital structure weights on a book value basis
First step is to calculate the book value weights of equity
Book value weights of equity = $7,000,000($8)
Book value weights of equity = $56,000,000
Second step is to calculate the Book value weights of debt
Book value weights of debt = $70,000,000 + 40,000,000
Book value weights of debt = $110,000,000
Third step is to calculate the total value of the company
Total value = $56,000,000 + 110,000,000
Total value = $166,000,000
Fourth step is to calculate the book value weights of equity and debt
Book value weights of equity and debt = $56,000,000/$166,000,000
Book value weights of equity and debt = .3373
Now let calculate capital structure weights on a book value basis using this formula
Capital structure weights on a book value basis= 1 - Book value weights of equity and debt
Let plug in the formula
Capital structure weights on a book value basis=1-.3373
Capital structure weights on a book value basis= .6627
Therefore the company's capital structure weights on a book value basis is .6627
B. Calculation to determine the company's capital structure weights on a market value basis
First step is to calculate the Market Value of Equity
Market Value of Equity = 7,000,000($68)
Market Value of Equity = $476,000,000
Second step is to calculate the Market Value of debt
Market Value of debt = .97($70,000,000) + 1.08($40,000,000)
Market Value of debt = $111,100,000
Third step is to calculate the total market value of the company
Total market value = $476,000,000 + 111,100,000
Total market value = $587,100,000
Fourth Step is to calculate the market value weights of equity and debt
Market value weights of equity and debt = $476,000,000/$587,100,000
Market value weights of equity and debt = .8108
Now let calculate capital structure weights on a market value basis
Using this formula
Capital structure weights on a market value basis = 1 - Market value weights of equity and debt
Let plug in the formula
Capital structure weights on a market value basis =1-.8108
capital structure weights on a market value basis = .1892
Therefore the company's capital structure weights on a market value basis is .1892
Livingston Fabrication has created the following aggregate plan for the next five months:
August September October November December
Forecasting demand (units of finished goods)
1,000,000.00 1,000,000.00 2,000,000.00 4,000,000.00 1,000,000.00
Production plan
2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00
Assume that Livingston will have nothing in inventory at the end of July. Livingston employs 500 production assembly workers and it takes one production assembly worker 3 minutes to assemble one unit of finished good. (The unit is complete at that point.) Each production assembly worker can provide 160 hours of assembly time a month without requiring overtime pay.
Livingston wants to complete this plan without working any overtime in assembly. How many additional production assembly workers does Livingston need to hire, in order to accomplish this? When should they be hired?
Using this production plan, how many units will be in inventory at the end of October?
What will the average inventory level be each month?
Answer:
Livingston Fabrication
1. Additional production assembly workers needed = 125
2. They should be hired July ending for August production.
3. 2,000,000 units will be in inventory at the end of October.
4. The average inventory level each month will be 1,200,000 units.
Explanation:
a) Data and Calculations:
(in thousands) August September October November December
Beginning inventory 0 1,000 2,000 2,000 0
Production plan 2,000 2,000 2,000 2,000 2,000
Forecasting demand
(units of finished goods) 1,000 1,000 2,000 4,000 1,000
Ending inventory 1,000 2,000 2,000 0 1,000
Number of assembly workers employed = 500
Minutes per employee to assemble one unit of finished good = 3
Total hours that each assembly worker can provide per month = 160
Total time provided by each assembly worker in minutes = 9,600 (160*60)
Total units produced by each worker in a month = 3,200 (9,600/3) units
Total units produced by 500 workers = 1,600,000 (3,200 * 500)
Production planned units per month = 2,000,000
Units required to be produced by hiring extra workers = 400,000
Workers required to produce the extra 400,000 units = 125 (400,000/3,200)
Average inventory level each month = Total ending inventory/5
= 6,000/5
= 1,200
Personal budget
At the beginning of the school year, Craig Kovar decided to prepare a cash budget for the months of September, October, November, and December. The budget must plan for enough cash on December 31 to pay the spring semester tuition, which is the same as the fall tuition. The following information relates to the budget:
Cash balance, September 1 (from a summer job) $8,150
Purchase season football tickets in September 130
Additional entertainment for each month 210
Pay fall semester tuition in September 4,200
Pay rent at the beginning of each month 500
Pay for food each month 460
Pay apartment deposit on September 2
(to be returned December 15) 500
Part-time job earnings each month (net of taxes) 1,000
a. Prepare a cash budget for September, October, November, and December.
b. What are the budget implications for Craig Kovar?
Answer:
Craig Kovar
Cash Budget
September October November December
Beginning balance $8,150 $3,150 $2,980 $2,810
Wages 1,000 1,000 1,000 1,000
Deposit refund 500
Total cash receipts $9,150 $4,150 $3,980 $4,310
Payments:
Season football tickets 130
Entertainment 210 210 210 210
Semester tuition 4,200 4,200
Rent 500 500 500 500
Food 460 460 460 460
Apartment deposit 500
Total payments $6,000 $1,170 $1,170 $5,370
Cash balance $3,150 $2,980 $2,810 ($1,060)
b. Craig needs to borrow $1,060 in December to meet up with expenses. Alternatively, he will need to increase his monthly earnings by more than $265. He can also reduce his monthly expenses by $265 at least, especially from additional entertainment and food. He should also start considering how he could survive January without additional income.
Explanation:
a) Data and Calculations:
Receipts:
Cash balance, September 1 (from a summer job) $8,150
Part-time job earnings each month (net of taxes) 1,000
Apartment deposit returned in December $500
Payments:
Season football tickets in September 130
Additional entertainment for each month 210
Semester tuition in September 4,200
Rent at the beginning of each month 500
Food each month 460
Apartment deposit on September 2 500
Brushy Mountain Mining Company's ore reserves are being depleted, so its sales are falling. Also, its pit is getting deeper each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 6% per year. What is the value of Brushy Mountain's stock (in dollars) if the company is expected to pay $4.40/share in dividend at t
The question is incomplete. The complete Question is,
Brushy Mountain Mining Company's coal reserves are being depleted, so its sales are falling. Also, environmental costs increase each year, so its costs are rising. As a result, the company's earnings and dividends are declining at the constant rate of 4% per year. If D0 = $2 and rs = 17%, what is the estimated value of Brushy Mountain's stock?
Answer:
P0 = $9.1428 rounded off to 9.14
This answer is for the question above. Change the values and use the same formula if the values differ
Explanation:
The constant growth model of dividend discount model (DDM) can be used to calculate the price of the stock today. DDM calculates the price of a stock based on the present value of the expected future dividends from the stock. The formula for price today under constant growth DDM is,
P0 = D0 * (1+g) / (r - g)
Where,
D0 * (1+g) is the dividend expected in Year 1 or next year
g is the constant growth rate in dividends
r is the discount rate or required rate of return
P0 = 2 * (1-0.04) / (0.17 + 0.04)
P0 = $9.1428 rounded off to 9.14
Teal Mountain Inc. issues $5.0 million, 10-year, 8% bonds at 101, with interest payable on January 1. The straight-line method is used to amortize bond premium. (a)Prepare the journal entry to record interest expense and bond premium amortization on December 31, 2022, assuming no previous accrual of interest. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
Dec. 31
Dr Interest expense $405,000
Cr Discount on bonds payable $5,000
Cr Cash $400,000
Explanation:
Preparation of the journal entry to record interest expense and bond premium amortization on December 31, 2022
Dec. 31
Dr Interest expense $405,000
($400,000+$5,000)
Cr Discount on bonds payable $5,000
[$5,000,000 - ($5,000,000 x 101/100)/10]
Cr Cash ($5,000,000 x 8%) $400,000
(To record interest expense and bond premium amortization)
Pamela was the agent in charge of distribution and collections for the Coble Dairy Products Cooperative. Thrower operated a grocery store and purchased dairy products from Coble. Pamela made false invoice sheets, showing delivery to Thrower of greater quantities than Thrower actually had ordered or received. Pamela collected from Thrower on the basis of these increased amounts, and then kept for herself the difference between the increased amounts and the amounts that should have been charged. When Thrower learned of this, he sued Coble for the excess payments he had made. Coble denied that Pamela was its agent in making excess collections. Will Thrower win?
Answer: Yes
Explanation:
This is an example of the law of agency. Since Pamela has been representing Coble in the past and engaging in transactions on behalf of Coble, any actions taking by Pamela is bidding on Coble which means that Thrower has the right to feel aggrieved with Coble and will win the case.
Finn Corporation produces inflatable rafts for recreational use. The company has heard about lean accounting and is anxious to find out more about the system, to determine whether it will help streamline its operations and cut costs.
The company has hired you as a consultant to help them implement their lean accounting program, and also to assist with recreating some data lost in a recent computer mishap.
This year, Finn Corporation implemented programs designed to assess the costs of quality for the company. However, the company recently suffered a data loss, and some of its records have been either partially or completely erased. The accounting intern for Finn Corporation has located a copy of a recent cost of the quality report, shown below, but the quality activity analysis used to create the report has been lost.
Cost of Quality Report
Quality Cost Classification Quality Cost Percent of Total Quality Cost Percent of Total Sales
Prevention $172,800.00 60.0% 14.4%
Appraisal 51,840.00 18.0 4.3
Internal failure 37,440.00 13.0 3.1
External failure 25,920.00 9.0 2.2
Total $288,000.00 100.0% 24.0%
As mentioned on the Cost of Quality Report panel, Finn Corporation recently suffered a data loss, and some of its records have been lost. After reviewing the Cost of Quality Report panel, recreate the quality activity analysis in the table below from which the cost of the quality report was created.
Quality Activity Analysis
1 Rework
2 Inspecting incoming raw materials
3 Warranty work
4 Process improvement effort
5 Total $288,000.00
Answer:
Rework-Internal Failure Cost $37,440
Inspecting incoming raw materials-Prevention $172,800
Warranty work-External Failure Cost $25,920
Process Improvement effort-Appraisal $51,840
Total activity cost $288,000
Explanation:
Calculation to recreate the quality activity analysis
QUALITY ACTIVITY ANALYSIS
Quality Cost classification Activity Cost
Rework-Internal Failure Cost $37,440
($288,000*13%)
Inspecting incoming raw materials-Prevention $172,800 ($288,000*60%)
Warranty work-External Failure Cost $25,920 ($288,000*9%)
Process Improvement effort-Appraisal $51,840 ($288,000*18%)
Total activity cost $288,000
($37,440+$172,800+$25,920+$51,840)
Therefore the quality activity analysis recreation are :
Rework-Internal Failure Cost $37,440
Inspecting incoming raw materials-Prevention $172,800
Warranty work-External Failure Cost $25,920
Process Improvement effort-Appraisal $51,840
Total activity cost $288,000
Management at Enomoto Enterprises has assigned Alberto to work at two different facilities, which will require him to commute an extra 25 miles on the days he must work at both plants. Alberto believes that the negotiated labor-management agreement requires the company to reimburse him for the extra mileage he has to drive. Management disagrees. Alberto has decided to file a charge that management is not abiding by the terms of the negotiated agreement. Alberto's complaint is called a grievance.
a. True
b. False
Answer:
A) true
Explanation:
From the question, we are informed that Management at Enomoto Enterprises has assigned Alberto to work at two different facilities, which will require him to commute an extra 25 miles on the days he must work at both plants. Alberto believes that the negotiated labor-management agreement requires the company to reimburse him for the extra mileage he has to drive. Management disagrees. Alberto has decided to file a charge that management is not abiding by the terms of the negotiated agreement. In this case, Alberto's complaint is called a grievance.
Grievance handling can be regarded as the management of employee
dissatisfaction as well as employee complaints such as workplace harassment, management not following terms of negotiated agreement,
wage cuts as well as favouritism. formal grievance handling procedures can be set up by management to give enablement for employees to raise their concerns. Unresolved Grievances could result in form of collective disputes and the morale and efficiency of of employees can be lowered
Argentina is considering constructing a bridge across the Rio de la Plata to connect its northern coast to the southern coast of Uruguay. If this bridge is constructed, it will reduce the travel time from Buenos Aires, Argentina, to Sao Paulo, Brazil, by over 10 hours and has the potential to significantly improve the flow of manufactured goods between the two countries. The cost of the new bridge, which will be the longest bridge in the world, spanning over 50 miles, will be $700 million. The bridge will require an annual maintenance of $10 million for repairs and upgrades and is estimated to last 80 years. It is estimated that 550,000 vehicles will use the bridge during the first year of operation, and an additional 50,000 vehicles per year until the tenth year. These data are based on an a toll charge of $90 per vehicle. The annual traffic for the remainder of the life of the bridge life will be 1,000,000 vehicles per year. The Argentine government requires a minimum rate of return of 9% to proceed with the project.
(a) Does this project provide sufficient revenues to offset its costs?
(b) What considerations are there besides economic factors in deciding whether to construct the bridge
Answer:
Argentine Bridge Across the Rio de la Plata
a. The project provides sufficient revenues to offset its costs.
b. Non-economic factors deciding the bridge construction include:
Social connections and enhancement of relationships
Reduction of travel time
Infrastructural development
Explanation:
a) Data and Calculations:
Reasons for constructing the bridge:
Connect northern Argentine coast to the southern coast of Uruguay
Reduce travel time from Buenos Aires to Sao Paulo by 10 hours
Improve the flow of manufactured goods between the two countries
Longest bridge in the world, spanning over 50 miles
Cost of the new bridge = $700 million
Annual maintenance cost = 800 million ($10m * 80 years)
Total cost of new bridge $1,500 million
Minimum required rate of return = 9% of $1,500 million ($135 million)
Estimated Revenue from the new bridge:
Vehicles using the bridge:
1st Year to 10th year = 550,000 each
Basic number of vehicles using the bridge = 5,500,000
Additional vehicles per year until tenth year = 50,000
Total additional vehicles = 450,000 (50,000 * 9)
Total number of vehicles using the bridge for the first 10 years = 5,950,000 (5,500,000 + 450,000)
Annual vehicular traffic from 11th year to 80th year = 1 million per year
Total from 11th to 80th year = 70 million ( 1 million * 70)
Overall vehicular traffic throughout the bridge's life = 75,950,000 (70,000,000 + 5,950,000)
Toll charge per vehicle = $90
Total revenue = $6,835,500,000 (75,950,000 * $90)
Ringmeup Inc had net income of $126,300 for the year ended December 31, 2013. At the beginning of the year, 44,000 shares of common stock were outstanding. On May 1, an additional 13,000 shares were issued. On December 1, the company purchased 4,500 shares of its own common stock and held them as treasury stock until the end of the year. No other changes in common shares outstanding occurred during the year. During the year, Ringmeup, Inc., paid the annual dividend on the 7,000 shares of 4.75%, $100 par value preferred stock that were outstanding the entire year. Calculate basic earnings per share of common stock for the year ended December 31, 2013
Answer:
$1.78
Explanation:
Basic Earnings Per Share = Earnings attributable to Common Stock Holders / Weighted Average number of shares outstanding at the end of year
Earnings attributable to common stockholders = Net Income - Preferred Stock Dividend paid in the year
Earnings attributable to common stockholders = $126,300 - ($100*4.75%*7,000 Shares)
Earnings attributable to common stockholders = $126,300 - $33,250
Earnings attributable to common stock holders = $93,050
Weighted Average number of shares outstanding at the end of year = (44,000 * 11/12) + [(44,000 - 4,500) * 1/12] + (13,000 * 8/12)
= 40,333.33 + 3,291.67 + 8,666.67
= 52,291.67
Basic Earnings Per Share = $93,050 / 52,291.67 shares
Basic Earnings Per Share = $1.78
What management function is to ensure that all factors of production are available to departments
"Minimum wage laws cause unemployment because the legal minimum wage is set" 9) A) above the market wage, causing labor demand to be greater than labor supply. B) below the market wage, causing labor demand to be greater than labor supply. C) too low. D) below the market wage, causing labor demand to be less than labor supply. E) above the market wage, causing labor demand to be less than labor supply.
Answer: E) above the market wage, causing labor demand to be less than labor supply.
Explanation:
Minimum wage simply refers to the lowest wage that employers can pay their workers. Minimum wage is a form of price floor which means that it's typically higher than the equilibrium or market wage.
In this case, since it's higher than the market wage, there'll be an increase in the supply of labor as those that are unemployed will be willing to work duw to the increase in the wage rate.
On the other hand, there'll be a reduction in the demand for labor as employers typically will want to reduce cost and won't be interested in employing more workers.
Therefore, the correct option is E
Based on market values, Gubler's Gym has an equity multiplier of 1.46 times. Shareholders require a return of 10.91 percent on the company's stock and a pretax return of 4.84 percent on the company's debt. The company is evaluating a new project that has the same risk as the company itself. The project will generate annual aftertax cash flows of $277,000 per year for 7 years. The tax rate is 39 percent. What is the most the company would be willing to spend today on the project
Answer:
The answer is "5.4% and 15,23,500".
Explanation:
Calculating the capital cost:
[tex]=(1-\frac{1}{1.46})\times 10.91\% \times (1-39\%)+(\frac{1}{1.46})\times 4.84\% \\\\=(\frac{1.46-1}{1.46})\times \frac{10.91}{100} \times (\frac{100-39}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\ =(\frac{0.46}{1.46})\times \frac{10.91}{100} \times (\frac{61}{100})+(\frac{1}{1.46})\times \frac{4.84}{100} \\\\=\frac{306.1346}{14600}+\frac{4.84}{146} \\\\= 0.021+0.033 \\\\ =0.054\\\\= 5.4\%[/tex]
Maximum amount to be spent
[tex]=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{(1.054)^7})\\\\=\frac{277,000\times 100 }{5.4} \times (1-\frac{1}{1.44})\\\\=\frac{277,000\times 100 }{5.4} \times (1-0.7)\\\\=277,000 \times 100\times 0.055\\\\=\$15,23,500\\[/tex]
Shamrock, Inc. issues a $660,000, 10%, 10-year mortgage note on December 31, 2022, to obtain financing for a new building. The terms provide for annual installment payments of $107,412. Prepare the entry to record the mortgage loan on December 31, 2022, and the first installment payment on December 31, 2023. (Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer: See explanation
Explanation:
The entry to record the mortgage loan on December 31, 2022 will be:
Debit Cash Account $660,000
Credit 10% Mortgage loan payable $660,000
The entry to record the first installment payment on December 31, 2023 will be:
Debit 10% Mortgage loan payable = $41412
Debit Interest Expenses $600,000 × 10% = $60,000
Credit Cash $107412
Ester transfers land (basis of $200,000 and fair market value of $355,000) to a controlled corporation in return for stock in the corporation. However, shortly before the transfer, Ester mortgages the land and uses the $25,000 proceeds to meet personal obligations. Along with the land, the mortgage is transferred to the corporation. Ester has a realized gain on the transfer of_____and a recognized gain of_____.
Answer:
Ester will have a realized gain on the transfer of $155,000 and a recognized gain of $25,000
Explanation:
Calculation to determine realized gain on the transfer and recognized gain
Amount realized=($300,000+$25,000)-$200,000
Amount realized=$355,000-$200,000
Amount realized=$155,000
Based on the information given her recognized gain will be $25,000
Peerless Corporation (a U.S. company) made a sale to a foreign customer on September 15, for 119,000 crowns. It received payment on October 15. The following exchange rates for 1 crown apply: September 15$0.61 September 30 0.65 October 15 0.60 Prepare all journal entries for Peerless in connection with this sale, assuming that the company closes its books on September 30 to prepare interim financial statements.
Answer:
Exchange rate on September 15: 1 Crown = $0.61; 119,000 Crown = (119,000*$0.61) = $72,590.
September 30 = (119,000*0.65) = $77,350.
October 15 = (119,000*$0.60) = $71,400.
JOURNAL ENTRY
Date Account Debit Credit
15-Sep Account receivable $72,590
Sales $72,590
(Sale to a foreign customer for 119,000 crown Exchange rate = $0.61)
30-Sep Account receivable $4,760
Foreign currency exchange gain $4,760
($77,350-$72,590)
15-Oct Foreign currency exchange loss $5,950
Account receivable $5,950
($71,400-$77,350)
Cash $77,350
Accounts Receivable $77,350
Bismith Company reported: Actual fixed overhead Fixed manufacturing overhead spending variance Fixed manufacturing production-volume variance $700,000 $40,000 unfavorable $30,000 unfavorable
To record the write-off of these variances at the end of the accounting period, Bismith would
A. credit Fixed Manufacturing Production-Volume Variance for $30,000
B. debit Fixed Manufacturing Control for $700,000
C. credit Fixed Manufacturing Overhead Allocated for $700,000
D. debit Fixed Manufacturing Overhead Spending Variance for $40,000
Answer:
D. Debit fixed manufacturing overhead spending variance for $40,000
Explanation:
Since fixed manufacturing overhead shows the difference between the actual fixed overhead costs and budgeted fixed overhead cost during a period, Bismith would debit fixed manufacturing overhead spending variance of $40,000 inorder to write off the recording of the variances at the end of the accounting period because the value for fixed manufacturing overhead spending variance has already being gotten hence would be applied at the end of the period.
Forever Quilting is a small company that makes quilting kits priced at $120 each. The costs of the materials that go into each kit are $45. It costs $5 in labor to assemble a kit. The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising in quilting magazines, and $4500 for the monthly salary of its owner. Last month the company sold 150 kits. What is the total fixed cost associated with producing the quilting kits for one month
Answer:
Total fixed cost= $6,200
Explanation:
Giving the following information:
The company has monthly expenses of $1,000 for rent and insurance, $200 for heat and electricity, $500 for advertising in quilting magazines, and $4500 for the monthly salary of its owner.
The fixed costs do not change with production levels. Electricity can be seen as a mixed cost (variable and fixed), but we will treat it as a fixed cost.
Total fixed cost= 1,000 + 200 + 500 + 4,500
Total fixed cost= $6,200