Answer:
E. The average time between two consecutive orders is 20 days.
Explanation:
Vivian has sunglasses which costs it $20 each. The inventory holding needs to be for 5 days since the lead time is 5 days for each order. The holding cost for the inventory is $500 for the whole year. There will be 10 days in average when two orders are placed for the sunglasses.
Question 3 of 10
A customer has a total purchase of $84.75. She hands the person at the
register four $20 bills, three $1 bills, six quarters, one dime, one nickel, and
five pennies. Which of the following is true?
A. The customer has paid the exact correct amount.
B. The customer has overpaid by $0.05.
C. The customer still owes $0.05.
o
D. The customer still owes $0.25.
Answer:
C. The customer still owes $0.05
Explanation:
Four $20 bills= $ 80
Three $1 bills= $3
Six quarters = $1.50
One dime = $0.10
One nickel= $0.05
Five pennies = $0.005
Total= $84.7
Answer:
Explanation:
The customer owes $0.05
The following information is available for Splish Brothers Corp. for the year ended December 31, 2022.Other revenues and gains 23,600other expenses and losses 4,000costs of good sold 291,000sales discount 4,800sales revenue 759,000operating expenses 220,000sales returns and allowances 10,600Prepare a multiple-step income statement for Splish Brothers Corp. The company has a tax rate of 25%.
Answer:
Splish Brothers Corp.
Multiple-step income statement for the year ended December 31, 2022.
Sales Revenue 759,000
Less sales returns and allowances (10,600)
Net Sales 748,400
Less Costs of Good Sold (291,000)
Gross Profit 457,400
Less Operating Expenses
Operating expenses 220,000
Sales discount 4,800 (224,800)
Operating Profit 232,600
Less Non - Operating Expenses
Other revenues and gains (23,600)
Other expenses and losses 4,000 19,600
Net Profit before tax 252,200
Income tax expense (63,050)
Net Profit after tax 189,150
Explanation:
Multiple-step income statement shows separately the income generated from Primary activities and that generated from Secondary activities as above.
Sheridan Beverage Company reported the following items in the most recent year.
Net income $49,000 Dividends paid 6,810 Increase in accounts receivable 13,660 Increase in accounts payable 8,660 Purchase of equipment (capital expenditure) 9,020 Depreciation expense 5,660 Issue of notes payable 22,020
Compute net cash provided by operating activities, the net change in cash during the year. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).)
Cash at Beginning of PeriodCash at End of PeriodCash Flows from Financing ActivitiesCash Flows from Investing ActivitiesCash Flows from Operating ActivitiesNet Cash Provided by Financing ActivitiesNet Cash Provided by Investing ActivitiesNet Cash Provided by Operating ActivitiesNet Cash used by Financing ActivitiesNet Cash used by Investing ActivitiesNet Cash used by Operating ActivitiesNet Decrease in CashNet Increase in CashIssue Notes Payable Increase in Accounts Receivable Decrease in Accounts Payable Increase in Accounts Payable Purchase of Equipment Dividends Net Income Decrease in Accounts Receivable Depreciation Expense Compute free cash flow.Free Cash Flow $Brief Exercise 5-12 Keyser Beverage Company report
Answer:
Net cash provided by operating activities $49,660
Net change in cash $55,850
Explanation:
Computation for the Net cash provided by operating activities
Net income$49,000
Add Increase in accounts payable 8,660
Add Depreciation expense 5,660
Less Increase in accounts receivable (13,660)
Net cash provided by operating activities $49,660
Cash flow from investing activities
Less Purchase of equipment (capital expenditure) (9,020)
Cash flow from financing activities
Add Issue of notes payable 22,020
Less Dividend (6,810)
Cash flow from financing activities 15,210
(22,020-6,810)
Net change in cash $55,850
($49,660-9,020+15,210)
Therefore Net cash provided by operating activities will be $49,660 and the Net change in cash will be $55,850
What is the name of a person or business that is a parial owner of a company.?
Answer:
Shareholder
Explanation:
A person or business that’s is a partial owner of a company
when sam returned home from the grocery Store, he realized that he did not have his wallet. His wallet contains his credit card, debit Card, drivers license, and some cash what would you do in this situation? explain answer. ty
Answer: go back and find the wallet and if I can’t find it go to the police so they can track my card
Explanation:
When bonds are converted into common stock____.
a. the market price of the stock and the bonds is ignored when recording the conversion.
b. gains or losses on the conversion are recognized.
c. the market price of the stock on the date of conversion is credited to the Common Stock account.
d. the market price of the bonds on the date of conversion is credited to the Common Stock account.
Answer:
When bonds are converted into common stock____.
a. the market price of the stock and the bonds is ignored when recording the conversion.
Explanation:
This is because the conversion price, which is the price at which the convertible bond is converted into the common stock of the entity, is usually set initially when the conversion ratio is first decided on. Therefore, the market prices of the stock and the bonds are not taken into account when the conversion recording is being done.
Describe how the 4 functions of management (planning, Organizing, Leading and Controlling relate to each other
Explain the importance of understanding how teams work together to achieve the same goal
Answer:
Graco docs fox
Explanation:
hii if good go go in the morning and will be able to get to know the first to rate this article on essy on the other day and time again for your time in you mam hindi meanings and the morning to ensure that we have DJs thrive and willJohn Rawls owns and operates Philosophical Consulting, Inc. During 2019 and 2020 he made the following purchases of assets for use in the business:
Asset Date of Purchase Cost
Office Furniture 5/1/2019 $100,000
Computer System 9/15/2020 $500,000
In addition, his business income before any cost recovery deduction in 2020 is $350,000. Prior to 2020, he only used regular MACRS depreciation for all purchases. However, at the beginning of 2020 he decides to take the maximum deduction possible for all new purchases. Ignore any excess business or net operating loss limitations.
Required: What is the 2020 cost recovery deduction for Philosophical Consulting, Inc?
Answer:
The right solution is "600000".
Explanation:
The given values are:
Cost of office furniture,
= $100,000
Cost of the computer system,
= $500,000
The changed MACRS enables a company to reduce the mortgage balance of such deteriorating properties over time.Throughout the very first years, MACRS permits quicker depreciation although subsequently slows down depriving. This seems to be fantastic for corporations from a tax point of view.Now,
The cost recovery deduction will be:
= [tex]Office \ furniture+Computer \ system[/tex]
On substituting the values, we get
= [tex]100000+500000[/tex]
= [tex]600000[/tex]
Pharoah Corporation had the following activities in 2020.
1. Sale of land $174,000 4. Purchase of equipment $426,000
2. Purchase of inventory $915,000 5. Issuance of common stock $345,000
3. Purchase of treasury stock $65,000 6. Purchase of available-for-sale debt securities $63,000
Compute the amount Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash select an option by investing activities $enter a dollar amount
Answer:
-$315,000
Explanation:
Computation for the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows
Sale of land $174,000
Less Purchase of equipment ($426,000)
Less Purchase of available-for-sale debt securities ($63,000)
Net cash provided (used) by investing activities -$315,000
Therefore the amount that Pharoah should report as net cash provided (used) by investing activities in its 2020 statement of cash flows will be -$315,000
. Remember that Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off her total
6. Using the Loan Calculator(https://www.bankrate.com/calculators/mortgages/loan-calculator.aspx) and the 1.9% APR offer, how much will Molly’s monthly payment be?
Answer: $286
Explanation:
First and foremost, we have to calculate the loan that is need by Molly which will be:
= $25495 - $2500 - $500
= $22495
At 1.9% APR, the monthly interest rate will be:
= 1.9%/12
= 0.0112
=0.001583
Since the number of payments is 84, then the monthly payment of Molly will be:
= 22495 × 0.001583 / (1-1/1.001583^84)
= $286
When making a choice using the blank a household will choose the combination of labor, leisure, and income that provides the most utility
Answer: hiii lol
Explanation:
Assume that you are 25 years old today, and that you are planning on retirement at age 65. You expect your salary to be $55,000 one year from now and you also expect your salary to increase at a rate of 3% per year as long as you work. To save for your retirement, you plan on making annual contributions to a retirement account. Your first contribution will be made on your 26th birthday and will be 12% of this year's salary. Likewise, you expect to deposit 12% of your salary each year until you reach age 65. Assume that the rate of interest is 5%.
The future value (FV) (at age 65) of your retirement savings is closest to:________
a. $1,091,733.20
b. $1,246,723.80
c. $988,452.90
d. $1,225,821.20
Answer:
FV= $1,246,723.8
Explanation:
To calculate the future value of this growing annuity, we need to use the following formula:
FV= A*{[(1+i)^n - (1+g)^n] / (i-g)}
A= annual deposit= 55,000*0.12= 6,600
i= 0.05
g=0.03
n= 40 years
FV= 6,600* {[(1.05^40) - (1.03^40)] / (0.05 - 0.03)}
FV= $1,246,723.8
Karr, Inc. reported net income of $300,000 for 20X4. Changes occurred in several Balance Sheet accounts as follows:
Equipment $25,000 increase Accumulated depreciation $40,000 increase Note payable $30,000 increase Additional information:
1. During 20X4, Karr sold equipment costing $25,000, with accumulated depreciation of $12,000, for a gain of $5,000.
2. In December 20X4, Karr purchased equipment costing $50,000 with $20,000 cash and a 12% note payable of $30,000.
3. Depreciation expense for the year was $52,000. In Karr's 20X4 Statement of Cash Flows, net cash provided by operating activities should be
Required:
1. In Karr's 2011 statement of cash flows, calculate net cash provided by operating activities.
2. In Karr's 2011 statement of cash flows, calculate net cash used in investing activities.
Answer:
$347,000-$2,000Explanation:
1. Net cash from operating activities:
= Net income + Depreciation + Decrease in inventory - Increase in Receivables - Gain on sale of equipment - Decrease in Account Payable
= 300,000 + 52,000 + 20,000 - 15,000 - 5,000 - 5,000
= $347,000
2. Net cash used in Investing:
= Sales of equipment - Purchase of Equipment
= 18,000 - 20,000
= -$2,000
What is opportunity cost?
The tax that is paid on income
The fees that are paid for education
the value of an alternative you give up
the interest paid on a long-term investment
Willco Inc. manufactures electronic parts. They are analyzing their monthly maintenance costs to determine the best way to budget these costs in the future. They have collected the following data for the last six months.
Month Machine hours Maintenance cost
January 61500 125,000
February 82,000 15,1500
March 76000 132,400
APril 75400 40500
May 86300 151000
June 71750 122600
Using the high-low method and the Willco data, calculate the variable maintenance cost per machine hour (round to three decimal places).
a. $0.913/hr.
b. $1.048/hr.
c. $1.069/hr.
d. $1.848/hr.
e. $1.293/hr.
Answer:
Variable cost per unit= $1.048
Explanation:
Giving the following information:
Highest activity cost= $151,000
Highest activity units= 86,300
Lowest activity cost= $125,000
Lowest activity units= 61,500
To calculate the variable cost under the high-low method, we need to use the following formula:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (151,000 - 125,000) / (86,300 - 61,500)
Variable cost per unit= $1.048
Selling, with criminal negligence, alcoholic beverages to a minor is a:
Class A misdemeanor
Class B misdemeanor
Class C misdemeanor
Class A felony
Leader Corporation Company uses a job-order costing system with a single plantwide pre-determined overhead rate based on machine-hours. The 98554-CZ company based its pre-determined overhead rate for the current year on the following data:
Total machine-hours 50,000
Total fixed manufacturing overhead cost $400,000
Variable manufacturing overhead per machine-hour $6
Recently, Job D168 was completed with the following characteristics:
Number of units in the job 40
Total machine-hours 100
Direct materials $750
Direct labor cost $2,750
If the company marks up its unit product costs by 60% then the selling price for a unit in Job D168 is closest to:____.
a. $2,505.
b. $3,025.
c. $1,185.
d. $2,360.
Answer:
Selling price per unit= $196
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (400,000 / 50,000) + 6
Predetermined manufacturing overhead rate= $14 per machine hour
Now, we can allocate overhead and calculate the total cost:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 14*100= $1,400
Total cost= 1,400 + 750 + 2,750
Total cost= $4,900
Finally, the selling price per unit:
Unitary cost= 4,900/40= $122.5
Selling price= 122.5*1.6
Selling price= $196
Uses the LIFO inventory method for external reporting and for income tax purposes but maintains its internal records using FIFO. The following disclosure note was included in a recent annual report:
Inventories ($ in millions):
2021 2020
Total inventories $800 $650
LIFO reserve (86) (65)
The company's income statement reported cost of goods sold of $3,750 million for the fiscal year ended December 31, 2021.
Required:
a. Drew adjusts the LIFO reserve (Allowance to Reduce Inventory to LIFO) at the end of its fiscal year. Prepare the December 31, 2013, adjusting entry to record the cost of goods sold adjustment.
b. If Drew had used FIFO to value its inventories, what would cost of goods sold have been for the 2013 fiscal year?
Answer:
A. Dr Cost of goods sold $21
Cr LIFO reserve $21
B.$3,729
Explanation:
A. Preparation of the December 31, 2021, adjusting entry to record the cost of goods sold adjustment.
Based on the information given in a situation were Drew adjusts the LIFO reserve at the end of its fiscal year which means that the December 31, 2021, adjusting journal entry to record the cost of goods sold adjustment will be:
Dr Cost of goods sold $21
($86 – 65)
Cr LIFO reserve $21
b. Calculation for what would cost of goods sold have been for the 2021 fiscal year
Cost of goods sold=$3,750 – $21
Cost of goods sold= $3,729
Therefore what the cost of goods sold could have been for the 2013 fiscal year is $3,729
Question 7 (3 points)
All of the following are necessary functions of a government EXCEPT?
1) providing a legal system to enforce laws and protect property rights
2) maintaining competition by regulatingg monopolies
3) promoting economic growth at the expense of employment and inflation
4) providing goods that private companies cannot provide
The function of the government does not include 4) providing goods that private companies cannot provide
Functions of government:It gives the legal system for enforcing the laws and protecting property rights. It maintained the competition via regulating the monopolies.Also, it gives the economic growth.Read more about the government here: https://brainly.com/question/24479311
You have the following information for Waterway Industries for the month ended October 31, 2022. Waterway uses a periodic method for inventory.Date Description Units Unit Cost or Selling PriceOct. 1 Beginning inventory 70 $26Oct. 9 Purchase 125 28Oct. 11 Sale 95 40Oct. 17 Purchase 95 29Oct. 22 Sale 70 45Oct. 25 Purchase 80 31Oct. 29 Sale 105 45A) Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)Weighted-average cost per unit______________B) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods.(1) LIFO.(2) FIFO.(3) Average-cost. (Round answers to 0 decimal place, e.g. 125.)
Answer:
Waterway Industries
A) The weighted-average cost is $28.527
B) Ending Inventory, cost of goods sold, gross profit:
(1) LIFO (2) FIFO (3) Average-cost
Ending Inventory: $2,660 $3,060 $2,853
Cost of goods sold: $7,895 $7,495 $7,702
Gross profit: $3,780 $4,180 $3,973
Explanation:
a) Data and Calculations:
Date Description Units Unit Cost Selling Price Total
Oct. 1 Beginning inventory 70 $26 $1,820
Oct. 9 Purchase 125 28 3,500
Oct. 11 Sale (95) 40 $3,800
Oct. 17 Purchase 95 29 2,755
Oct. 22 Sale (70) 45 3,150
Oct. 25 Purchase 80 31 2,480
Oct. 29 Sale (105) 45 4,725
Oct. 31 Ending inventory 100
Total: Goods available 370 $10,555
Goods sold 270 $11,675
Weighted-average cost = Cost of goods available/Units available
= $10,555/370 = $28.527 per unit
Periodic method:
LIFO:
Ending inventory:
Oct. 1 Beginning inventory 70 $26 $1,820
Oct. 9 Purchase 30 28 840
Total Ending inventory = 100 $2,660
Cost of goods sold = Cost of goods available - Ending inventory
= $10,555 - $2,660 = $7,895
Sales Revenue $11,675
Cost of goods sold 7,895
Gross profit $3,780
FIFO:
Ending inventory:
Oct. 17 Purchase 20 29 $580
Oct. 25 Purchase 80 31 2,480
Total Ending inventory = 100 $3,060
Cost of goods sold = Cost of goods available - Ending inventory
= $10,555 - $3,060 = $7,495
Sales Revenue $11,675
Cost of goods sold 7,495
Gross profit $4,180
Average-cost:
Ending Inventory = $2,853 ($28.527 * 100)
Cost of goods sold = Cost of goods available - Ending inventory
= $10,555 - $2,853 = $7,702
Sales Revenue $11,675
Cost of goods sold 7,702
Gross profit $3,973
We are evaluating a project that costs $644,000, has an eight-year life, and has no salvage value. Assume that depreciation is straight-line to zero over the life of the project. Sales are projected at 70,000 units per year. Price per unit is $37, variable cost per unit is $21, and fixed costs are $725,000 per year. The tax rate is 35 percent, and we require a 15 percent return on this project.
Required:
a. Calculate the accounting break-even point.
b. Calculate the base-case cash flow and NPV. What is the sensitivity of NPV to changes in the sales figure? Explain what your answer tells you about a 500-unit decrease in projected sales.
c. What is the sensitivity of OCF to changes in the variable cost figure? Explain what your answer tells you about a $1 decrease in estimated variable costs.
Solution :
a).
Particulars Details
Selling price per unit 37
Less : variable cost per unit -21
Margin per unit 16
No. of units sold per unit 70,000
Gross margin 11,20,000
Less : fixed cost - 7,25,000
Profit before depreciation and tax 3,95,000
Less : depreciation -80,500
Profit before tax 3,14,500
Less : Tax -1,10,075
Net profit per year 2,04,425
Project Cost 6,44,000
Accounting breakeven point in years 3.15
b).
Calculating the base Cash - Cash flow and NPV
Particulars Amount
Net profit per year 2,04,425
Add : depreciation 80,500
Base Cash cashflow 2,84,925
Required rate of return 15%
Present value of base cash cash flow 12,78,550
received in 8 years.
Project cost -6,44,000
NPV 6,34,550
The present value of base cash cash flow received in 8 years is calculated as Present value of annuity received at the end of each year $ 2,84,925 at the rate of interest 15% for a period of 8 years.
The sensitivity of the NPV to 500 units decrease in projected sales :
Particulars Details
Selling price per unit 37
Less : variable cost per unit -21
Margin per unit 16
Number of units sold per year 69,500
Gross margin 11,12,000
Less : fixed cost -7,25,000
Profit before depreciation and tax 3,87,000
Less : depreciation -80,500
Profit before tax 3,06,500
Less : tax -1,07,275
Net profit per year 1,99,225
Add : depreciation 80,500
Base Cash cashflow 2,79,725
Required rate of return 15%
Present value of base cash cash flow 12,55,216
received in 8 years.
Project cost -6,44,000
NPV 6,11,216
Original NPV 6,34,550
Sensitive NPV -23,334
c).
Particulars Details
Selling price per unit 37
Less : variable cost per unit -20
Margin per unit 17
No. of units sold per year 70,000
Gross Margin 11,90,000
Less : fixed cost -7,25,000
Profit before depreciation and tax 4,65,000
Less : Depreciation -80,500
Profit before tax 3,84,500
Less : tax -1,34,575
Net profit per year 2,49925
Add : depreciation 80,500
Operating cash flow 3,30,425
Original operating cashflow 2,84,925
Sensitivity of OCF 45,500
D
Lee Associates borrowed $60,000. The company plans to set up a sinking fund that
will pay back the loan at the end of 12 years. Assuming a rate of 8% compöunded
semiannually, the amount to be paid into the fund each period is):
Answer: $ 153698.2499
Explanation:
60000(1+0.08/2)^24=153798.2499
Explain the relationship between the FAFSA, the SAR, and the EFC.
Explanation:
The SAR summarizes the information you provided on the FAFSA, and indicates the Expected Family Contribution (EFC). The EFC is the amount of money your family will be expected to contribute to your education. ... The lower your EFC, the more financial aid you will get.
Hope it helps
:>
EFC is an index number that is used to determine the eligibility for federal student financial aid, this number results from the financial information will be provided in FAFSA, then it will be reported on SAR.
What are the FAFSA, the SAR, and the EFC?FAFSA refers to the Free Application for Federal Student Aid, form that is filled by the college students to determine their eligibility for student financial aid in the United States.
SAR refers to the Student Aid Report is a document that gives the basic information about the student's eligibility for federal financial aid.
EFC refers to the Expected Family Contribution is an estimate of a student's eligibility for federal student financial aid.
Learn more about the FAFSA here:-
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Conducting a search of the store is part of store closing duties. Why?
A. To look for empty boxes
B. To ensure that all trash has been removed
C. To make sure someone is not hiding
D. To make sure all merchandise in on the sales floor
O
SUM
Answer:
B
Explanation:
make sure that alk trash has been removed the shop is left clean
true or false the majority of managerial communication is written in one form or another.
Explanation:
One form of verbal communication is called paralanguage.
True or False
False
Josie is the CRM manager for a toy company. Under what pathway in the Marketing, Sales, and Services career cluster would Josie's job fall?
A. Merchandising
B. Marketing Management
C. Professional Sales
Answer:
B. Marketing Management
Explanation:
Marketing management is a process in which the planning and execution of pricing, promotion, distribution, goods & services in order to exchange and satisfy the individual and organization goals & objectives. It also involved the marketing, sales and services
Therefore option b is correct
Answer:
B
Explanation:
just took the test<3
What is the underlying premise of the resource-based view? Group of answer choices Firms generally have very similar capabilities stemming from almost identical resources Imitation of resources is the best way to achieve competitive advantages Firms differ in fundamental ways because each firm possesses a unique bundle of resources Firms' intangible resources can be very difficult to imitate
Answer:
Firms differ in fundamental ways because each firm possesses a unique bundle of resources
Explanation:
The resource-based view can be regarded as managerial framework utilized in finding strategic resources that can be exploited by a firm so that sustainable competitive advantage can be achieved. It should be noted that the underlying premise of the resource-based view is that Firms differ in fundamental ways because each firm possesses a unique bundle of resources
What is a benefit of having a good credit score?
Loan sharks will be less likely to bother you.
You'll get accepted to better education institutions.
You'll get more job offers.
When you need a loan, you'll have more loan offers to pick from.
Answer:
D
Explanation:
Answer:
D - When you need a loan, you'll have more loan offers to pick from
Explanation:
Since you have a good credit score, people know you handle your money well and pay your bills on time.
That way they will be able to trust you with whatever money they loan you. Because they know you will pay them back in full as soon as you can.
Hope this Helps!:)
All of the machine hours take place in the Fabrication department, which has an estimated overhead of $84,000. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $72,000. The Ramapo Company uses a single overhead rate to apply all overhead costs. What would the single plantwide rate be if it was based on machine hours instead of labor hours
Answer:
Results are below.
Explanation:
We weren't provided with the number of machine-hours. To guide an answer, I will assume that 35,000 machine hours were estimated in the Fabrication Department.
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= 84,000 / 35,000
Predetermined manufacturing overhead rate= $2.4 per machine hour