Answer:
percent yield graphic
Explanation:
Percent yield defines that it is the ratio of the percentage of actual yield to the yield of theoretical.
To compute the percent yield of the product we simply divided the actual yield by yield of theoretical and after the result we do the multiply with 100 to get the result in percentage form. In this case,, if we found that actual and theoretical yield is similar then the percentage of yield will be 100 percent.
Baron Corporation has two sequential processing departments: Assembly and Shaping. The Shaping Department reports the following information. Conversion costs are applied evenly throughout the process. Beginning WIP Inventory 8 comma 000 units Transferredminusin costs in beginning WIP Inventory $ 113 comma 200 Direct materials cost in beginning WIP Inventory $ 29 comma 500 Conversion costs in beginning WIP Inventory $ 23 comma 750 Units transferredminusin 56 comma 000 units Transferredminusin costs $ 546 comma 300 Units completed 47 comma 000 Costs added: direct materials $ 172 comma 120 Costs added: conversion costs $ 245 comma 570 Ending WIP Inventory 17 comma 000 units (40% complete for materials and 30% complete for conversion) The total cost of units in ending WIP InventoryminusShaping would be closest to
Answer:
Baron Corporation
Total cost of units in ending WIP Inventory would be closest to $300,273.
Explanation:
a) Shaping Department Production Cost Report:
Units Cost Total Cost
Beginning Work in process 8,000
Transferred-in cost in WIP $113,200
Direct materials cost in beginning WIP $ 29,500
Conversion costs in beginning WIP $ 23,750 $ 166,450
Transferred-in during period 56,000 $ 546,300
Costs added to transferred-in:
Direct materials $ 172,120
Conversion costs $ 245,570 $ 963,990
Total cost 64,000 $ 1,130,440
Transferred-out 47,000 $ 830,167
Ending Work in process 17,000 $ 300,273
b) Unit cost = $17.66 ($1,130,440/64000)
c) Cost of Transferred-out units = $830,167 {($1,130,440/64,000) x 47,000}
d) Cost of Ending WIP units = $300,273 {($1,130,440/64,000) x 17,000}
Red Sun Rising just paid a dividend of $2.01 per share. The company said that it will increase the dividend by 25 percent and 20 over the next two years, respectively. After that, the company is expected to increase its annual dividend at 3.1 percent. If the required return is 10.1 percent, what is the stock price today
Answer:
$41.40
Explanation:
For computing the stock price for today first we have to do the following calculations
Dividend at year 0 = D0 = $2.01
Dividend at year 1 = D1 = $2.01 × 1.25 = $2.5125
Dividend at year 2 = D2 = $2.5125 × 1.20 = $3.015
Now, we have to determine the price for year 2
P2 = D2 × (1 + growth rate) ÷ (required rate of return - growth rate)
= $3.015 × 1.031 ÷ (0.101-0.031)
= $44.4066
And, finally
Current price is
= $2.5125 ÷ 1.101 + $3.015 ÷ 1.101^2 + $44.4066 ÷ 1.101^2
= $41.40
The stock price today is $41.40.
As per the given situation, the calculation is as follows:Dividend at year 0 = D0 = $2.01
Dividend at year 1 = D1 = $2.01 × 1.25 = $2.5125
Dividend at year 2 = D2 = $2.5125 × 1.20 = $3.015
So
We have to calculate the price for year 2 by applying the following formula:P2 = D2 × (1 + growth rate) ÷ (required rate of return - growth rate)
= $3.015 × 1.031 ÷ (0.101-0.031)
= $44.4066
Now
Current price is= $2.5125 ÷ 1.101 + $3.015 ÷ 1.101^2 + $44.4066 ÷ 1.101^2
= $41.40
Therefore we can conclude that the stock price today is $41.40.
Learn more: brainly.com/question/19682087
Tracy Company, a manufacturer of air conditioners, sold 100 units to Thomas Company on November 17, 2016. The units have a list price of $600 each, but Thomas was given a 30% trade discount. The terms of the sale were 2/10, n/30.1. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2016, assuming that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)2. Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2016, assuming that the gross method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)3.1 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on November 26, 2016, assuming that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)3.2 Prepare the journal entries to record the sale on November 17 (ignore cost of goods) and collection on December 15, 2016, assuming that the net method of accounting for cash discounts is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
1)
November 17, 100 units sold to Thomas Company on account, credit terms 2/1, n/30
Dr Accounts receivable 42,000
Cr Sales revenue 42,000
November 26, invoice collected from Thomas Company
Dr Cash 41,160
Dr Sales discounts 840
Cr Accounts receivable 42,000
2)
November 17, 100 units sold to Thomas Company on account, credit terms 2/1, n/30
Dr Accounts receivable 42,000
Cr Sales revenue 42,000
December 15, invoice collected from Thomas Company
Dr Cash 42,000
Cr Accounts receivable 42,000
3)
November 17, 100 units sold to Thomas Company on account, credit terms 2/1, n/30
Dr Accounts receivable 41,160
Cr Sales revenue 41,160
November 26, invoice collected from Thomas Company
Dr Cash 41,160
Cr Accounts receivable 41,160
4)
November 17, 100 units sold to Thomas Company on account, credit terms 2/1, n/30
Dr Accounts receivable 41,160
Cr Sales revenue 41,160
December 15, 2016, invoice collected from Thomas Company
Dr Accounts receivable 840
Cr Sales discounts forfeited 840
Dr Cash 42,000
Cr Accounts receivable 42,000
Bill Dukes has $100,000 invested in a 2-stock portfolio. $32,500 is invested in Stock X and the remainder is invested in Stock Y. X's beta is 1.50 and Y's beta is 0.70. What is the portfolio's beta
Answer:
0.98
Explanation:
Computation for Bill Duke portfolio's beta
First step is to find the Investment in Y which is:
Investment in Y=100,000-35,000
=$65,000
Second step is to calculate for the Portfolio beta using this formula
Portfolio beta=Respective beta*Respective Investment weight
Portfolio beta =(35,000/100,000*1.5)+(65,000/100,000*0.7)
Portfolio beta=(0.35*1.5) +(0.65*0.7)
Portfolio beta =0.525 +0.455
Portfolio beta=0.98
Therefore the Portfolio Beta will be 0.98
Northwest Hospital is a full-service hospital that provides everything from major surgery and emergency room care to outpatient clinics.
Required:
For each of the following costs incurred at Northwest Hospital, indicate whether it would most likely be a direct cost or an indirect cost of the specified cost object.
1. The wages of pediatric nurses / The pediatric department
2. Prescription drugs / A particular patient
3. Heating the hospital / The pediatric patient
4. The salary of the head of pediatrics / The pediatric patient
5. The salary of the head of pediatrics / The particular pediatric patient
6. Hospital chaplain's salary / A particular patient
7. Lab tests by outside contractor / A particular patient
8. Lab tests by outside contractor / A particular department
Answer:
1. direct cost
2. direct cost
3. Indirect cost
4. indirect cost
5. direct cost
6. direct cost
7. direct cost
8. direct cost
Explanation:
Direct costs can be traced directly (through observation) on the cost object whilst indirect costs can not be traced directly to the cost object.
For example direct cost that can be traced on the pediatric patient are : prescription drugs, tests by both inside and outside contractor,chaplain's salary and wages for pediatric nurses.
Indirect cost that can not be traced on the pediatric patient are : Heating the hospital, salary of the head of pediatrics. This is because we can not actually trace their work or expense on the patient.
A company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 410 units. Ending inventory at January 31 totals 150 units. Units Unit Cost Beginning inventory on January 1 370 $ 3.60 Purchase on January 9 80 3.80 Purchase on January 25 110 3.90 Required: Assume the perpetual invent
Answer:
Cost of ending inventory using:
LIFO = $540
FIFO = $581
weighted average = $553.13
Explanation:
Units Unit Cost
Beginning inventory on January 1 370 $3.60
Purchase on January 9 80 $3.80
Purchase on January 25 110 $3.90
Sales on January 26, the company sells 410 units.
Ending inventory 150 units
Cost of ending inventory using:
LIFO = 150 x $3.60 = $540
FIFO = (110 x $3.90) + (40 x $3.80) = $581
weighted average = ($2,065 / 560) x 150 units = $553.13
(Calculating the cash conversion cycle) Network Solutions just introduced a new, fully automated manufacturing plant that produces 2,000 wireless routers per day with materials costs of $50 per router and no other costs. The average number of days a router is held in inventory before being sold is 45 days. In addition, the company generally pays its suppliers in 30 days, while collecting from its customers after 25 days.
a. What is the cash conversion cycle?
b. What would happen to the cash conversion cycle if the company could stretch its payments to suppliers from 30 days to 50 days?
c. How much would working capital financing be reduced if the company stretched its payments to suppliers from 30 days to 50 days?
Answer and Explanation:
The computation is shown below:
a. As we know that
Cash conversion cycle is
= Days inventory outstanding + days sale outstanding - days payable outstanding
= 45 days + 25 days - 30 days
= 40 days
b. Now if the payment of supplier changed from 30 days to 50 days which is
Cash conversion cycle is
= Days inventory outstanding + days sale outstanding - days payable outstanding
= 45 days + 25 days - 50 days
= 20 days
c. Now the reduction in working capital is
= Difference in days × production × material cost per order
= 20 days × 2,000 × $50
= $2,000,000
We simply applied the above formulas
Kathy is 48 years of age and self-employed. During 2018 she reported $538,000 of revenues and $107,600 of expenses relating to her self-employment activities. If Kathy has no other retirement accounts in her name, what is the maximum amount she can contribute to an individual 401(k)?
Answer:
Contribute to individual 401(k) = $61,000
Explanation:
Given:
Revenue = $538,000
Expenses = $107,600
Find:
Contribute to individual 401(k)
Computation:
Contribute to individual 401(k) = $55,000
Kathy is younger then 50 years so, She have t pay $6,000 more:
So,
Contribute to individual 401(k) = $55,000 + $6,000
Contribute to individual 401(k) = $61,000
Companies and their auditors have adopted a general rule of thumb that anything under 5% of _______ is considered not material.
Answer:
The answer is net income
Explanation:
Net income is the difference the total revenue generated and the total cost(cost of sales, salaries, electricity etc.)
Materiality: A financial statement is said to material is when its misstatement or omission affects the opinion of its intended users.
Companies and auditors have agreed that anything under 5% of net income is considered not material, meaning any misstatement less than 5% of the net income is not considered to be important to alter the view of the users. In this kind of situation, auditors' opinion on the financial statement will be true and fair.
Virginia owns 100% of Goshawk Company. In the current year, Goshawk Company sells a capital asset (held for three years) at a loss of $40,000. In addition, Goshawk has a short-term capital gain of $18,000 and net operating income of $90,000 during the year. Virginia has no recognized capital gain (or loss) before considering her ownership in Goshawk.
Complete each lettered item below, outlining how much of the capital loss may be deducted for the year and how much is carried back or forward.
a. If Goshawk is a proprietorship, only $ _________ long-term capital loss can be deducted in the current year. The remaining $ ___________net capital loss is carried ___________ and then ____________Correct 3 of Item 1.
b. If Goshawk is a C corporation, only $ __________long-term capital loss can be deducted in the current year. The remaining $ ___________ net capital loss is carried ______________ and then _____________ of Item 2.
Answer:
a) If Goshawk is a proprietorship, only $21000 long-term capital loss can be deducted in the current year. The remaining $19000 net capital loss is carried forward and then carried back
b) If Goshawk is a C corporation, only $ 18000 long-term capital loss can be deducted in the current year. The remaining $22000 net capital loss is carried back and then forward of Item 2.
Explanation:
The gain or loss on the sale of a property is said to be the difference between between the realized value of goods and its adjusted basis. When there is a gain the realized value would be greater than the adjusted basis, while when there's loss the realized value would be less than the adjusted basis.
A) In this case, if Goshawk is a proprietorship, only $21,000 of the $40,000 long-term capital loss can be deducted in the current year. The loss will offset the short-term capital gain of $18,000 first; then, an additional $3,000 of the loss may be utilized as a deduction against ordinary income. The remaining $19,000 net capital loss is carried forward to next year and years thereafter until completely deducted. The capital loss carryover retains its character as long term.
B) If Goshawk is a C corporation, $18,000 short term capital gain can be set off for long term capital loss. Then the remaining $22,000($40,000 - $18,000) will be carried backwards
Here are the comparative income statements of Ivanhoe Corporation. IVANHOE CORPORATION Comparative Income Statement For the Years Ended December 31 2022 2021 Net sales $624,100 $523,300 Cost of goods sold 462,100 405,800 Gross Profit 162,000 117,500 Operating expenses 72,300 44,300 Net income $ 89,700 $ 73,200 (a) Prepare a horizontal analysis of the income statement data for Ivanhoe Corporation, using 2021 as a base. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 1 decimal place, e.g. 12.1%.)
Answer:
2022 2021 Change % Change
Net sales 624,100 523,300 100,800 19.23%
Cost of goods sold 462,100 405,800 56,300 13.87%
Gross profit 162,000 117,500 44,500 37.87%
Operating exp. 72,300 44,300 28,000 63.21%
Net Income 89,700 73,200 16,500 22.54%
Since we are using the 2021 income statement as base year, any change will be calculated by dividing the total change by the 2021 amount, and then multiply by 100 to get the %.
Lawler Clothing sold manufacturing equipment for $29,000. Lawler originally purchased the equipment for $93,000, and depreciation through the date of sale totaled $77,500. What was the gain or loss on the sale of the equipment
Answer:
Gain on disposal = $13500
Explanation:
The gain or loss on disposal/sale of a fixed asset can be calculated by deducting the Net book value of the asset from the sales proceeds. If the NBV is more than the sales proceeds, then there is a loss on disposal and vice versa.
The net book value or NBV of an asset can be calculated as follows,
NBV = Cost - Accumulated depreciation
NBV = 93000 - 77500
NBV = $15500
Gain/(Loss) on disposal = Sales Proceeds - NBV
Gain/(Loss) on disposal = 29000 - 15500
Gain/(Loss) on disposal = $13500 gain on disposal
QUCIK!! How do you merge an excel sheet with a word document??
Explanation:
Instead of a mail merge from Excel to Word, you can simply copy and paste the excel sheet from excel to word directly, the worse case is to do some small editing and formatting, or you can decide to keep source formatting all this are prompt you will get to encounter when performing the operation
Duval Co. issues four-year bonds with a $117,000 par value on January 1, 2019, at a price of $112,870. The annual contract rate is 9%, and interest is paid semiannually on June 30 and December 31.
Requried:
Prepare an amortization table for these bonds. Use the straight-line method of interest amortization.
Answer and Explanation:
The preparation of the amortization table is presented below:
Semiannual Discount Unamortized Discount Carrying Value
Period-End amortized
1/1/19 $4,130 $ 112,870
($117,000 - $112,870)
6/30/19 $3,613.75 $113,386.25
($4,130 - $4,130 ÷ 8 years) ($112,870 + $516,25)
12/31/19 $3,097.50 $113,902.50
($3,613 - $4,130 ÷ 8 years) ($112,.870 + $516,25)
6/30/20 $2,581.25 $114,418.75
($3,097.50 - $4,130 ÷ 8 years) ($113,902 + $516.25)
12/31/20 $2,065.00 $114,935.00
($2,581.25 - $4,130 ÷ 8 years)
6/30/21 $1,548.75 $115,451.25
($2,065 - $4,130 ÷ 8 years)
12/31/21 $1,032.50 $115,967.50
($1,548.75 - $4,130 ÷ 8 years)
6/30/22 $516.25 $116,483.75
($1,032.50 - $4,130 ÷ 8 years)
12/31/22 $- $ 117,000.00
($516.25 - $4,130 ÷ 8 years)
The same method is applicable for other time period
According to Ryan Grey Smith—the owner of Modern Shed—for the first five years, the big goal for his company is to: a.diversify operations. b.have more employees. c.start a subsidiary company. d.be more accessible to people.
Answer: d.be more accessible to people.
Explanation:
Ryan Grey Smith and his wife, Ahna Holder founded Modern Shed in 2005 after recognising business potential when a client decided that getting a prefabricated shed instead of a house extension was cheaper.
According to Mr. Smith, the big goal the company came up with was to be as accessible to people as possible by being flexible enough to adapt to whatever requirements that people had of them so that they could build on that and maximise their output.
What is the effect on real GDP of a $175 billion change in planned investment if the MPC is 0.50? $ nothing billion. (Enter your response rounded to the nearest whole number.)
The effect on real GDP of a $175 billion in the case when there is a change in the planned investment should be $350 billion.
As we know that
Multiplier = 1 ÷ (1 - MPC)
= 1 ÷ 1-0.50
= 2
Now
Change in GDP = Multiplier × Change in investment
= 2 × 175
= $350 billion
Therefore for computing the Change in GDP we simply applied the above formula i.e of Multiplier and the change in gross domestic product (GDP)
Hence, The effect on real GDP of a $175 billion in the case when there is a change in the planned investment should be $350 billion.
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Beginning inventory $ 32,000 Inventory purchases (on account) 162,000 Freight charges on purchases (paid in cash) 17,000 Inventory returned to suppliers (for credit) 19,000 Ending inventory 37,000 Sales (on account) 257,000 Cost of inventory sold 155,000 Required: Applying both a perpetual and a periodic inventory system, prepare the journal entries that summarize the transactions that created these balances. Include all end-of-period adjusting entries indicated.
Answer:
When Inventory is purchased on account
Merchandise Inventory $162,000 (debit)
Accounts Payable $162,000 (credit)
When freight charges are paid in cash
Freight Charges $17,000 (debit)
Cash $17,000 (credit)
When Inventory is returned to suppliers
Accounts Payable $19,000 (debit)
Merchandise Inventory $19,000 (credit)
When inventory is sold on account
Account Receivables $257,000 (debit)
Cost of Sales $155,000 (debit)
Sales Revenue $257,000 (credit)
Merchandise Inventory $155,000 (credit)
Explanation:
When Inventory is purchased on account
Recognize the assets of Inventory as well as the liability for Suppliers owed
When freight charges are paid in cash
Recognize the freight expenses and de-recognize assets of cash
When Inventory is returned to suppliers
De-recognize the liability of suppliers owed as well as inventory returned
When inventory is sold on account
Recognize the revenue and cost resulting from sale.
Gilchrist Corporation bases its predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently completed year, the Corporation estimated the machine-hours for the upcoming year at 35,900 machine-hours. The estimated variable manufacturing overhead was $4.80 per machine-hour and the estimated total fixed manufacturing overhead was $945,606. The predetermined overhead rate for the recently completed year was closest to:
Answer:
Predetermined manufacturing overhead rate= $31.14 per machine-hour
Explanation:
Giving the following information:
Estimated machine-hour= 35,900 machine-hours
Estimated variable overhead= $4.80 per machine-hour
Total fixed manufacturing overhead was $945,606.
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (945,606/35,900) + 4.8
Predetermined manufacturing overhead rate= $31.14 per machine-hour
Use the following information to answer this question. Windswept, Inc. 2017 Income Statement ($ in millions) Net sales $ 9,500 Cost of goods sold 7,700 Depreciation 445 Earnings before interest and taxes $ 1,355 Interest paid 90 Taxable income $ 1,265 Taxes 443 Net income $ 822 Windswept, Inc. 2016 and 2017 Balance Sheets ($ in millions) 2016 2017 2016 2017 Cash $ 230 $ 265 Accounts payable $ 1,460 $ 1,580 Accounts rec. 1,010 910 Long-term debt 1,020 1,345 Inventory 1,680 1,670 Common stock 3,260 2,980 Total $ 2,920 $ 2,845 Retained earnings 600 850 Net fixed assets 3,420 3,910 Total assets $ 6,340 $ 6,755 Total liab. & equity $ 6,340 $ 6,755 What is the return on equity for 2017?
Answer:
The return on equity for 2017 is 21.46 %
Explanation:
Return on equity measures the return earned on the owners investment in the company.
Return on equity = Net Income for the year / Total Shareholders Funds × 100
= $822 / ( $2,980 + $850) × 100
= 21.4621 or 21.46 %
Note : That Retained earning is part of Owners Investment.
Conclusion :
The return on equity for 2017 is 21.46 %
The following information is for employee William Heedy for the week ended March 15.
Total hours worked: 48
Rate: $16 per hour, with double time for all hours in excess of 40
Federal income tax withheld: $200
United Fund deduction: $50
Cumulative earnings prior to current week: $6,400
Tax rates:
Social security: 6% on maximum earnings of $106,800
Medicare tax: 1.5% on all earnings; on both employer and employee
State unemployment: 4.2% on maximum earnings of $7,000; on employer
Federal unemployment: 0.8% on maximum earnings of $7,000; on employer Federal unemployment: 0.8% on maximum earnings of $7,000; on employer.
1. What is WIlliam's total earnings?
a. $640.00
b. $896.00
c. $256.00
d. $900,00
2. What is WIlliam's total deductions?
a. $200.00
b. $50.00
c. $317.20
d. $250.00
3. What is William's net pay?
a. $578.80
b. $640.00
c. $580.00
d. $600.00
4. What is the employers FICA based on Williams pay?
a. $70.00
b. $67.20
c. $20.40
d. $0
5. What is the employers Federal Unemployment based on Williams pay?
a. $0
b. $13.44
c. $7.00
d. $4.80
Answer:
1. b. $896.00
2. c. $317.20
3. a. $578.80
4. b. $67.20
5. d. $4.80
Explanation:
1. WIlliam's total earnings
40 hours at $16 = $640
8 hours at $32 = $256
Total = $896
2. WIlliam's total deductions
Income Tax $200
United Fund deduction $50
Social security tax (6% * $896) $3.76
Medicare tax (1.5% * $896) $13.44
Total $317.20
3. William's net pay
= Total earnings - Total deductions
= $896 - $317.20
= $578.80
Cash Paid is $578.80
4. Employers FICA based on Williams pay
Social Security and Medicare taxes = 7.5% * $869 = $67.20
5. Employers Federal Unemployment based on Williams pay
Federal unemployment tax = 0.8% * $600 = $4.80
You have an investment account that started with $4 comma 000 10 years ago and which now has grown to $5 comma 000. a. What annual rate of return have you earned (you have made no additional contributions to the account)? b. If the investment account earns 17 % per year from now on, what will the account's value be 10 years from now?
Answer:
2.26%
$24,034.14
Explanation:
The formula for finding the interest rate is :
(FV/ PV) ^1/n - 1
FV = Future value
PV = Present value
R = interest rate
N = number of years
(5000/4000) ^ 1/n - 1 = 0.022565 = 2.26%
11. To find the future value in 10 years, this formula would be used:
FV = P (1 + r)^n
= $5000 (1.17)^10 = $24,034.14
I hope my answer helps you
Garrison Company adds direct materials at the beginning of the process and adds conversion costs throughout the process. The following data represents data in the Shaping Department WIP, April 1 7 comma 000 units Transferredminusin costs in WIP, April 1 $79,940 Direct materials (100%) in WIP, April 1 $24,420 Conversion costs (55%) in WIP, April 1 $23,400 Units transferredminusin 49 comma 000 Transferredminusin costs during April $550,900 Units completed 46 comma 000 April direct materials cost $155,500 April conversion costs $239,250 WIP, April 30 10 comma 000 units (100% for materials and 40% for conversion costs) What are the equivalent units for conversion costs?
Answer:
Equivalent Units for conversion = 50,000 units
Cost per equivalent unit for conversion = $5.253
Explanation:
WIP, April 1 = 7,000 units
Transferred-costs in WIP, April 1 = $79,940
Direct materials (100%) in WIP, April 1 = $24,420
Conversion costs (55%) in WIP, April 1 = $23,400
Units transferred = 49,000
Transferred costs during April = $550,900
Units completed = 46,000
April direct materials cost =$155,500
April conversion costs =$239,250
WIP, April 30 =10,000 units
100% for materials and 40% for conversion costs
Required = Equivalent Units for conversion cost?
Solution
Equivalent Units for conversion = 100% of units completed + 40% of units in work in process
Equivalent Units for conversion = (46000 x 100%) + ( 10,000 x 40%)
Equivalent Units for conversion = 46,000 + 4000
Equivalent Units for conversion = 50,000 units
Cost per equivalent unit for conversion = Total conversion cost/Equivalent unts for conversion
Cost per equivalent unit for conversion = (23,400+239,250) /50,000units
Cost per equivalent unit for conversion = $5.253
Given a pay range with a minimum of $16 per hour and a maximum of $20 per hour (with a midpoint of $18 per hour), what is the compa-ratio for an employee who earns $19/hour
Answer:
106%
Explanation:
Computation compa-ratio for an employee who earns $19/hour
Using this formula
Compa-ratio= Rate/Midpoint
Where,
Rate is the employees pay rate
Midpoint is the midpoint of the target market rate
Let plug in the formula
Compa-ratio=$19/$18
Compa-ratio=106%
Therefore the compa-ratio for an employee who earns $19/hour will be $106%
What three C’s must a business plan include?
What constant annual cash payment must you receive in order to earn a 6.5% rate of return on a perpetuity that has a cost of $2,500
Answer:
$162.5
Explanation:
Amount of perpetuity = Annual Payment / Return earned
We need to solve for Annual payment
Hence, Annual payment = Amount of Perpetuity * Return earned
=$2,500 * 6.5 %
=$162.5
The annual cash payment that you must receive is $162.5
A multinational automobile manufacturer issues a public statement that the company's vehicle emissions tests had been falsified to meet environmental compliance standards over recent years using software specifically designed for that purpose. Following the news, the CEO is replaced, vehicle sales plummet, and the company's stock price sharply declines. Which of the following has the company incurred?
a) visible but not intangible costs
b) only visible and internal administrative costs a
c) internal administrative costs but not visible costs
d) internal administrative costs but not intangible costs
e) visible and intangible costs
Answer:
a) visible but not intangible costs
Explanation:
Based on the information provided within the question regarding the scenario it can be said that the company incurred visible and intangible costs. They have incurred intangible costs because their reputation and credibility was badly damaged due to the public statement, while they also suffered visible costs due to the sharp drop in customers and share prices.
Which of the following QuickBooks features can be used to save a transaction that will be re-used in the future?
A. Saved transactions
B. Memorized transactions
C. Repeat transactions
D. None of the above
Answer:
B. Memorized transactions
Explanation:
When using QuickBooks, the feature that allows you to save a transaction that will be re-used in the future are known as Memorized Transactions. These are transaction templates that allow the individual to speed up data entry jobs by saving the information that will be repeated. In general, this saves time, reduces mistakes, keeps better tabs on cash in the bank, and increases bookkeeping accuracy.
Suppose you were hired as a consultant for a company that wants to penetrate the Comp-XM market. This company wants to pursue a niche differentiation strategy. From last year’s reports, which company would be the strongest competitor?
Answer:
Chester Company is the strongest Competitor
Explanation:
Chester company has developed a strategy of cost cutting to survive best among its competitors. It has cut its routine expenses and has lowered its cost of goods manufactured which can lead to profit maximization. The company has lowered its selling price and customers are more attracted to it because of its cheap price among all other companies supplying same products
S4-2 (similar to) Question Help Sally's FurnitureSally's Furniture uses departmental overhead rates (rather than a plantwide overhead rate) to allocate its manufacturing overhead to jobs. The company's two production departments have the following departmental overhead rates: Cutting Department: $ 8$8 per machine hour Finishing Department: $ 14$14 per direct labor hour Job 112112 used the following direct labor hours and machine hours in the two manufacturing departments: LOADING...(Click the icon to view the resources used for Job 112112.) 1. How much manufacturing overhead should be allocated to Job 112112? 2. Assume that direct labor is paid at a rate of $ 23$23 per hour and Job 112112 used $ 2 comma 400$2,400 of direct materials. What was the total manufacturing cost of Job 112112? 1. How much manufacturing overhead should be allocated to Job 112112? Calculate the total manufacturing overhead for the job by using a formula for each department's overhead amount and then adding both amounts together. First determine the formula and overhead for the Cutting Department.
Complete Question:
S4-2 (similar to) Question Help. Sally's Furniture uses departmental overhead rates (rather than a plantwide overhead rate) to allocate its manufacturing overhead to jobs. The company's two production departments have the following departmental overhead rates: Cutting Department: $8 per machine hour Finishing Department: $14 per direct labor hour Job 112112 used the following direct labor hours and machine hours in the two manufacturing departments:
Resources used for Job 112112
Cutting Finishing
Direct Labor Hours 6 10
Machine Hours 6 7
Requirements:
1. How much manufacturing overhead should be allocated to Job 112112?
2. Assume that direct labor is paid at a rate of $23 per hour and Job 112112 used $2,400 of direct materials. What was the total manufacturing cost of Job 112112? 1. How much manufacturing overhead should be allocated to Job 112112? Calculate the total manufacturing overhead for the job by using a formula for each department's overhead amount and then adding both amounts together. First determine the formula and overhead for the Cutting Department.
Answer:
Sally's Furniture
1. Manufacturing overhead allocated to Job 112112:
Cutting department = Machine hour rate x machine hours
= $8 x 6 = $48
Finishing department = Direct labor hour rate x direct labor hours
= $14 x 10 = $140
Total manufacturing overhead = $188 ($48 + 140)
2. Total manufacturing cost of Job 112112:
Direct materials = $2,400
Direct labor = 368 (16 x $23)
Overhead = 188
Total cost = $2,956
Explanation:
a) Data:
Departmental overhead rates:
Cutting Department: $8 per machine hour
Finishing Department: $14 per direct labor hour
b) Job Costing is a costing method that allocates the costs of resources for manufacturing goods and services according to the costs consumed by each job. Each job becomes a cost center for accumulating costs instead of the process involved in the production. The system helps management to keep track of the costs of each job.
Graphically, how does a monopolistically competitive firm determine its profit-maximizing price? Question 7 options: It accepts the price set by the industry-wide forces of supply and demand. The firm's pricing structure is set by government regulators. Graphically, it finds the place where MR = MC and charges the price directly to the left of that point. The firm determines its profit-maximizing output and then charges the price associated with the point on its demand curve directly above that quantity.
Answer:
The correct answer is the last option: The firm determines its profit-maximizing output and then charges the price associated with the point on its demand curve directly above that quantity.
Explanation:
To begin with, the monopolistically competitive firm is working in the market that determines its profit-maximizing price by first determining its output level in the point where it marginal costs equals its marginal revenue and then it charges the price that finds itself above that quantity level determined previously by the output level and that is in the average revenue curve that finds it above the marginal revenue curve