Answer:
$204
Explanation:
Monthly benefit = $6800
Monthly premium = monthly benefit * 3%
= 6800 * 3% = $204
Brian just graduated from school.
and under own occupation disability policy ranges between 1% to 3%.
since Brian is worried about his ability to pay back his student loan if he gets disabled we will assume that Brian has a higher risk to injury therefore he will most likely contribute more to his premium which ≈ $204
According to the survey article on mergers by Mukherjee et al,
A) a minority of managers believe that diversification can be a good reason to merge.
B) acquiring managers discount targets’ cash flows at the targets’ cost of capital.
C) managers do not believe operating synergies to be important in merger decisions.
D) managers do not use the discounted cash flow formula to value a target in a merger.
FIFO Method, Equivalent Units, Unit Cost, Multiple Departments
Fordman Company has a product that passes through two processes: Grinding and Polishing. During December, the Grinding Department transferred 20,000 units to the Polishing Department. The cost of the units transferred into the second department was $40,000. Direct materials are added uniformly in the second process. Units are measured the same way in both departments. The second department (Polishing) had the following physical flow schedule for December:
Units to account for:
Units, beginning work in process 4,000 (40% complete)
Units started ?
Total units to account for: ?
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed ?
Units accounted for ?
1-a. Prepare a schedule of equivalent units.
1-b.Compute the unit cost for the month of December.
Question Completion:
Costs in beginning work in process for the Polishing Department were direct materials, $5,000; conversion costs, $6,000; and transferred in, $8,000. Costs added during the month: direct materials, $32,000; conversion costs, $50,000; and transferred in, $40,000.
Answer:
Fordman Company
1-a. A Schedule of Equivalent Units:
Direct materials Conversion Transferred in
Beginning work in process 2,400 (60%) 2,400 (60%) 2,400 (60%)
Units transferred out 16,000 (100%) 16,000 (100%) 16,000 (100%)
Ending work in process 4,000 (50%) 4,000 (50%) 4,000 (50%)
Equivalent units 22,400 22,400 22,400
1-b. Cost per unit for the month of December = $5.45
Explanation:
a) Data and Calculations:
Beginning work in process:
Direct materials costs = $5,000
Conversion costs = $6,000
Transferred-in costs = $8,000
Units transferred from the Grinding Department = 20,000
Direct materials Conversion Transferred in
Cost added during the month $32,000 $50,000 $40,000
Equivalent units of production:
Direct materials Conversion Transferred in
Beginning work in process 2,400 (60%) 2,400 (60%) 2,400 (60%)
Units transferred out 16,000 (100%) 16,000 (100%) 16,000 (100%)
Ending work in process 4,000 (50%) 4,000 (50%) 4,000 (50%)
Equivalent units 22,400 22,400 22,400
Cost per equivalent unit:
Direct materials Conversion Transferred in
Cost added during the month $32,000 $50,000 $40,000
Equivalent units 22,400 22,400 22,400
Cost per equivalent unit $1.43 $2.23 $1.79
Cost per unit for the month of December = $5.45 ($1.43 + $2.23 + $1.79)
Physical Flow Schedule for December:
Units to account for:
Units, beginning work in process 4,000 (40% complete) 60% in the month
Units started 20,000
Total units to account for: 24,000
Units accounted for:
Units, ending work in process 8,000 (50% complete)
Units completed 16,000
Units accounted for 24,000
Peeler Company was incorporated as a new business on January 1, 2017. The corporate charter approved on that date authorized the issuance of 1,100 shares of $100 par, 7% cumulative, non participating preferred stock and 14,000 shares of $5 par common stock. On January 10, Peeler issued for cash 590 shares of preferred stock at $124 per share and 4,100 shares of common stock at $80 per share. On January 20, it issued 1,300 shares of common stock to acquire a building site at a time when the stock was selling for $70 per share.
During 2017, Peeler established an employee benefit plan and acquired 500 shares of common stock at $60 per share as treasury stock for that purpose. Later in 2017, it resold 100 shares of the stock at $65 per share. On December 31, 2017, Peeler determined its net income for the year to be $40,000. The firm declared the annual cash dividend to preferred stockholders and a cash dividend of $5 per share to the common stockholders. The dividends will be paid in 2018.
Required
Develop the Stockholders’ Equity category of Peeler’s balance sheet as of December 31, 2017. Indicate on the statement the number of shares authorized, issued, and outstanding for both preferred and common stock.
Answer:
Peeler Company
Stockholders' Equity
Peeler's Balance Sheet as of December 31, 2017
Authorized share capital:
1,100 shares of $100 par, 7% cumulative, non-participating preferred stock
14,000 shares of $5 par, common stock
Issued share capital:
590 shares of $100 par, 7% cumulative,
non-participating preferred stock $59,000
Additional paid-in capital-Preferred 14,160
5,400 shares of $5 par, Common stock 27,000
400 shares,Treasury stock (2,000)
5,000 shares outstanding, Common stock 25,000
Additional paid-in capital-Common stock 392,000
Additional paid-in capital (treasury stock) (21,500) 370,500
Retained earnings 10,870
Explanation:
a) Data and Analysis:
January 10: Cash $73,160 Preferred stock $59,000 Additional Paid-in Capital-Preferred stock $14,160
January 10: Cash $328,000 Common stock $20,500 Additional Paid-in Capital-Common stock $307,500
January 20: Building site $91,000 Common stock $6,500 Additional Paid-in Capital-Common stock $84,500
Treasury stock $2,500 Additional Paid-in Capital-Common stock $27,500 Cash $30,000
Cash $6,500 Treasury stock $500 Additional Paid-in Capital-Common stock $6,000
Retained earnings:
Net income = $40,000
Dividends:
Preferred stock $4,130 ($59,000 * 7%)
Common stock $25,000 (5,000 * $5)
Total dividends $29,130
Retained earnings $10,870 ($40,000 - $29,130)
A company is considering replacing an old piece of machinery, which cost $601,300 and has $350,900 of accumulated depreciation to date, with a new machine that has a purchase price of $483,600. The old machine could be sold for $64,500. The annual variable production costs associated with the old machine are estimated to be $156,700 per year for 8 years. The annual variable production costs for the new machine are estimated to be $101,400 per year for 8 years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A company is considering replacing an old piece of machinery, which cost $600,000 and has $350,000 of accumulated depreciation to date, with a new machine that has a purchase price of $545,000. The old machine could be sold for $231,000. The annual variable production costs associated with the old machine are estimated to be $61,000 per year for eight years. The annual variable production costs for the new machine re estimated to be $19,000 per year for eight years.
Required:
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
B. Determine whether the company should continue with (Alternative 1) or replace (Alternative 2) the old machine.
C. What is the sunk cost in this situation?
X
Differential Analysis
A. Prepare a differential analysis dated September 13 to determine whether to continue with (Alternative 1) or replace (Alternative 2) the old machine. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. For those boxes in which you must enter subtracted or negative numbers use a minus sign. If there is no amount or an amount is zero, enter "0". A colon (:) will automatically appear if required.
Differential Analysis
Continue with Old Machine (Alternative. 1) or Replace Old Machine (Alternative. 2)
September 13
1
Continue with Old Machine
Replace Old Machine
Differential Effect on Income
2
(Alternative 1)
(Alternative 2)
(Alternative 2)
3
4
5
6
7
8
Answer:
Question Aa. Alternative 1–$1,253,600
Alternative 2 –$1,230,300
Differential effect $ 23,300
b.The company should replace the old machine.
c Sunk cost $250,400
Question Ba. Alternative 1–$488,000
Alternative 2 –$466,000
Differential effect $ 22,000
b.The company should replace the old machine.
c Sunk cost $250,000
Explanation:
Question Aa. Preparation of a differential analysis dated September 13
DIFFERENTIAL ANALYSIS
Continue with Old Machine (Alt. 1) or Replace Old Machine (Alt. 2)
September 13
Continue with Old Machine (Alternative 1); Replace Old Machine (Alternative 2) ; Differential
on Income (Alternative 2)
Revenues:
Proceeds from sale of old
machine $ 0 $64,500 $64,500
Costs:
Purchase price 0 –$483,600 –$483,600
Variable production costs (8 years)–$1,253,600 –$811,200 $442,400
($156,700*8=$1,253,600)
($101,400*8=$811,200)
Income (Loss) –$1,253,600 –$1,230,300 $ 23,300
b. The company should replace the old machine.
c. Calculation for The sunk cost
Using this for formula
Sunk cost= Book value- Accumulated
depreciation
Let plug in the formula
Sunk cost=$601,300-$350,900
Sunk cost=$250,400
Question Ba. Preparation of a differential analysis dated September 13
DIFFERENTIAL ANALYSIS
Continue with Old Machine (Alt. 1) or Replace Old Machine (Alt. 2)
September 13
Continue with Old Machine (Alternative 1); Replace Old Machine (Alternative 2) ; Differential
on Income (Alternative 2)
Revenues:
Proceeds from sale of old
machine $ 0 $231,000 $231,000
Costs:
Purchase price 0 –$545,000 –$545,000
Variable production costs (8 years)–$488,000 –$152,000 $336,000
($61,000*8=$488,000)
($19,000*8=$152,000)
Income (Loss) –$488,000 –$466,000 $ 22,000
b. The company should replace the old machine.
c. Calculation for The sunk cost
Using this for formula
Sunk cost= Book value- Accumulated
depreciation
Let plug in the formua
Sunk cost=$600,000-$350,000
Sunk cost=$250,000
The following table contains statements that provide some analysis of policies that address globalization.
Categorize each statement as positive or normative.
1-In the past decade, U.S. companies have outsourced millions of jobs overseas.
2-Companies that outsource jobs are acting immorally.
3- If the U.S. government were to institute higher tariffs on imports, companies would stop outsourcing jobs.
4-The U.S. government should institute higher tariffs on imports.
I need help in this problem. that what I got: 1-Positive 2- Normative 3- postive 4- Normative
Is that correct??
Answer:
Positive statement
Normative statement
Positive statement
Normative statement
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, -In the past decade, U.S. companies have outsourced millions of jobs overseas - is a statement that can be verified with data
Normative economics is based value judgements, opinions and perspectives. For example, -Companies that outsource jobs are acting immorally - is subject to opinion. Some would agree and some would not
Second-degree price discrimination: Multiple Choice results in transfer pricing. None of the answers are correct. is the practice of posting a discrete schedule of declining prices for different ranges of quantities. eliminates the problem of double marginalization.
Answer:
is the practice of posting a discrete schedule of declining prices for different ranges of quantities
Explanation:
In the case of the second degree price discrimination, the firm should chares the different kinds of the prices as per the quantity demanded i.e. if the large quantities are ordered so it should be charged at the less price and if the small quantities are ordered so it should be charged at the high prices. The motive behind this is to motivate the bulk sales that means when the buyer purchased the products in bulk so he will get the high discounts
Therefore the third option is correct
A pollution tax would be preferable to a system of transferable permits when... a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable. b. the marginal costs of damages are steep and the marginal costs of pollution reduction are steep. c. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are relatively stable. d. the marginal costs of damages are relatively stable and the marginal costs of pollution reduction are steep. e. the marginal costs of damages are elastic and the marginal costs of pollution reduction are also elastic.
Answer:
a. the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
Explanation:
Pollution can be defined as the physical degradation or contamination of the environment through an emission of harmful, poisonous and toxic chemical substances.
Offset trading refers to a type of trading system that is typically designed for the realization of more efficient pollution control.
This ultimately implies that, an offset trading is a strategic program that allows emerging business firms to pay existing business firms in order to significantly reduce their emissions or pollutants below a specific standard.
Free market in tradable pollution permits simply means giving manufacturing companies and individuals the legal right to pollution of the environment. For example, XYZ company is purchasing the permit of 500 units of carbon dioxide (CO2) pollution annually, this simply means it is permitted to pollute the environment by 500 units of CO2 annually.
Additionally, a free market in tradable pollution permits has some sort of benefits as companies can resell their unused permits or devise a cheaper means of reducing pollution. It also compensate companies that significantly reduces its pollution of the environment.
A pollution tax can be defined as a type of tax imposed on business firms that causes pollution and damages to the environment. It is also referred to as Pigovian tax which is a tax on goods with negative externality.
Hence, tradable permits when compared with pollution tax are likely to result in less inefficiency, when the marginal costs of damages are steep and the marginal costs of pollution reduction are relatively stable.
On January 1, Year 1, Parker Company purchased an asset costing $20,000. The asset had an expected five-year life and a $2,000 salvage value. The company uses the straight-line method. What are the amounts of depreciation expense and accumulated depreciation, respectively, that will be reported in the Year 2 financial statements
Answer:
3600
7200
Explanation:
Pension Plan Entries Yuri Co. operates a chain of gift shops. The company maintains a defined contribution pension plan for its employees. The plan requires quarterly installments to be paid to the funding agent, Whims Funds, by the fifteenth of the month following the end of each quarter. Assume that the pension cost is $157,100 for the quarter ended December 31.
Journalize the entry to record the accrued pension liability on December 31.
Answer and Explanation:
The journal entry is shown below:
On Dec 31
Pension expense $157,100
To Unfunded pension liability $157,100
(Being the quarterly pension cost is recorded)
here the pension expense is debited as it increased the expense and credited the unfunded pension liability as it also increased the liabilities
So, the above journal entry should be recorded
Scott was a member of the seven-person board of directors of Buffalo Corporation. Officers of that corporation were considering a large purchase of new equipment to begin production of a completely new product line. The board of directors had not been consulted about the new venture, but Scott found out about the plan and objected to it being implemented. He sought to inspect the corporate books and records to gain factual information supportive of his position. The officers refused his inspection request, asserting that Scott had no management function or power. Under these circumstances, Scott: _________
a. has the right to inspect corporate books only if he is also a majority shareholder.
b. is barred from examination of the books and records of the corporation under the doctrine of respondeat superior.
c. has the right to inspect corporate books and records, as information regarding the corporation and its affairs is essential to perform his duties.
d. is barred from examination of the books and records of the corporation under the business judgment rule.
Answer: has the right to inspect corporate books and records, as information regarding the corporation and its affairs is essential to perform his duties.
Explanation:
Based on the information given, it is vital for Scott to inspect corporate books and records, as information regarding the corporation and its affairs is essential to perform his duties.
Since Scott is part of the people who are considering a large purchase of new equipment to begin production of a completely new product line, he therefore needs to check out the corporate books and records in order to gain factual information which will support his stance on the matter.
Therefore, the correct option is C.
Erik Cartman just took a new position with Colorado Research, Inc. Erik’s first customer, the president of a local bank, wanted a bank image study to be conducted measuring not only the client’s banks’ image, but that of his competitors as well. In designing the research project, Erik talked to several of his friends one night about how they viewed their banks. Erik charged the client for this and billed it as "Exploratory Research NFocus Group." The next day Erik tried to remember most of what his friends had told him. Some of the issues were "closeness to home" of branch locations, "cool online banking," and "friendly tellers." Erik took these issues, made up some of his own and put them into a semantic differential scale format. After the research study, Erik wrote a report and referred to the semantic differential scale he devised as a "Standard Marketing Research Scale to Measure the Construct of Bank Image." What Erik did was:___________
A) correct; he used exploratory research to generate most of the items for his
measurement of bank image
B) correct; although he used some of his own opinions, they were based upon experience and he did make use of a focus group
C) incorrect; the measurement of bank image was incorrect as bank image should be measured only by using Likert scales
D) incorrect; we do not know if the scale Mr. Cartman devised was valid or reliable, but he was unethical in presenting the measurement as"standard marketing research"
E) correct; Erik saved considerable time and money by creating his own measurement of the construct
Answer: D. Incorrect; we do not know if the scale Mr. Cartman devised was valid or reliable but he was unethical
in presenting the measurement as "standard marketing research.
Explanation:
Based on the information given in the question, the correct option is D "we do not know if the scale Mr. Cartman devised was valid or reliable but he was unethical in presenting the measurement as "standard marketing research".
He was unethical as he didn't tell his friends that he was collecting the information from them for a research purpose. Also, making up some of the issues regarding his research is not appropriate.
Therefore, the correct option is D.
HELP ME PLEASE!!
When practicing a speech, you should attempt to make your voice as deep as you physically can.
A.
True
B.
False
your answer is FALSE
The leaders at Hill Corp. execute tasks by assigning complete responsibility to employees and hence, employees are held answerable for their work. The leaders of the firm concentrate on the results of the tasks and not on how the tasks are executed. This manner of achieving goals at Hill Corp. indicates that it has a(n)
Answer:
Hill Corp.
This manner of achieving goals at Hill Corp. indicates that it has a(n)
accountable culture.
Explanation:
Within an accountable culture, responsibilities are dissolved among management and employees. The employees are responsible for deciding how the assigned tasks will be carried out. Based on this high level of trust, employees work hard to exceed expectations. As a result, organizational conflicts are eliminated, and the workers engage their productive energies to achieve clear-cut objectives that are congruent to the organization's goals.
The Murdock Corporation reported the following balance sheet data for 2021 and 2020:
2021 2020
Cash $98,465 $34,355
Available-for-sale debt
securities (not cash
equivalents) 25,000 104,000
Accounts receivable 99,000 85,350
Inventory 184,000 162,100
Prepaid insurance 3,210 3,900
Land, buildings, and
equipment 1,288,000 1,144,000
Accumulated depreciation (629,000 ) (591,000 )
Total assets $1,068,675 $942,705
Accounts payable $93,440 $167,670
Salaries payable 27,600 34,000
Notes payable (current) 42,100 94,000
Bonds payable 219,000 0
Common stock 300,000 300,000
Retained earnings 386,535 347,035
Total liabilities and
shareholders' equity $1,068,675 $942,705
Additional information for 2021:
(1) Sold available-for-sale debt securities costing $79,000 for $85,400.
(2) Equipment costing $20,000 with a book value of $6,900 was sold for $8,850.
(3) Issued 6% bonds payable at face value, $219,000.
(4) Purchased new equipment for $164,000 cash.
(5) Paid cash dividends of $29,500.
(6) Net income was $69,000.
Required:
Prepare a statement of cash flows for 2016 in good form using the indirect method for cash flows from operating activities.
Answer:
The Murdock Corporation
Statement of Cash Flows for the year ended December 31, 2021
Operating activities (only):
Net income $69,000
Depreciation expense 51,100
Gain on sale of securities (6,400)
Gain on sale of equipment (1,950)
Changes in working capital:
Accounts receivable (13,650)
Inventory (21,900)
Prepaid insurance 690
Accounts payable (74,230)
Salaries payable (6,400)
Notes payable (current) (51,900)
Cash flow from operations ($55,640)
Explanation:
a) Data and Calculations:
2021 2020 Change
Cash $98,465 $34,355 +$64,110
Available-for-sale debt securities
(not cash equivalents) 25,000 104,000 -79,000
Accounts receivable 99,000 85,350 +13,650
Inventory 184,000 162,100 +21,900
Prepaid insurance 3,210 3,900 -690
Land, buildings, and
equipment 1,288,000 1,144,000 +144,000
Accumulated depreciation (629,000 ) (591,000 ) +38,000
Total assets $1,068,675 $942,705
Accounts payable $93,440 $167,670 -74,230
Salaries payable 27,600 34,000 -6,400
Notes payable (current) 42,100 94,000 -51,900
Bonds payable 219,000 0 +219,000
Common stock 300,000 300,000 0
Retained earnings 386,535 347,035 +39,500
Total liabilities and
shareholders' equity $1,068,675 $942,705
Additional information for 2021:
1. Available=for-sale debt securities:
Cost = $79,000
Sales = 85,400 Cash
Profit = $6,400
2. Equipment:
Cost = $20,000
Acc. Dep. 13,100
Book value 6,900
Cash sales 8,850
Profit = 1,950
Accumulated Depreciation:
Beginning balance $591,000
Sale of equipment (13,100)
Depreciation expense 51,100
Ending balance 629,000
3. Bonds issue = $219,000
Interest on bonds = 13,140 ($219,000 * 6%)
4. Purchase of new equipment = $164,000
5. Cash dividends = $29,500
6. Net income = $69,000
Statement of Cash Flows for the year ended December 31, 2021
Operating activities:
Net income $69,000
Depreciation expense 51,100
Gain on sale of securities (6,400)
Gain on sale of equipment (1,950)
Changes in working capital:
Accounts receivable (13,650)
Inventory (21,900)
Prepaid insurance 690
Accounts payable (74,230)
Salaries payable (6,400)
Notes payable (current) (51,900)
Cash flow from operations ($55,640)
Investing activities:
Sale of equipment 8,850
Purchase of equipment (164,000)
Available-for-sale debt securities
(not cash equivalents) 85,400
Cash flow from investing ($69,750)
Financing activities:
Issue of bonds 219,000
Dividends (29,500)
Cash from financing $189,500
Net Cash flows $64,110
Reconciliation:
Beginning cash balance $34,355
Net Cash flows $64,110
Ending cash balance $98,465
SME Ads Inc. (SME) Steven Monahan owns SME Ads Inc., an advertising agency. At present, the company focuses on advertising only. However, Steven plans to expand the company's focus to include all the major elements of an organization's promotional mix. Steven feels that expanding the focus in such a way will allow the firm to meet customer needs in a more coordinated fashion. Currently, the firm organizes its work according to the media being used. Steven believes this is the most effective way to subdivide advertising. Since television is the most widely used advertising medium, the company spends most of its time on television advertising. SME knows what it takes to get the job done, and it is committed to success. Refer to SME Ads Inc. In developing the advertising campaign for a client, in which of the following steps should SME include the important selling points or features of the client's products?
A) Identifying and analyzing the industry.
B) Defining the advertising objectives.
C) Creating the advertising platform.
D) Determining the advertising appropriation.
E) Developing the media plan.
Answer:
SME Ads Inc.
In developing the advertising campaign for a client,
SME should include the important selling points or features of the client's products in the following step:
A) Identifying and analyzing the industry.
Explanation:
It is at this step that the SWOT analysis is carried out. The client's selling points form part of the client's strengths. Therefore, during the identification and analysis of the industry in which the client plays a role, its selling points or special features must be prominently developed to achieve great advert value for money.
The following information relates to Franklin Freightways for its first year of operations (data in millions of dollars): Pretax accounting income: $ 310 Pretax accounting income included: Overweight fines (not deductible for tax purposes) 12 Depreciation expense 77 Depreciation in the tax return using MACRS: 122 The applicable tax rate is 25%. There are no other temporary or permanent differences. Franklin's taxable income ($ in millions) is:
Answer:
$277
Explanation:
Particular Amount
Pre-Tax Accounting Income $310
Adjustments
Add: Overweight Fines $12
Add: Depreciation Expenses $77
Less: Depreciation as per tax return $122
Taxable Income $277
Therefore, Franklin's taxable income is $277.
DS Unlimited has the following transactions during August.
August 6 Purchases 54 handheld game devices on account from GameGirl, Inc., for $120 each, terms 1/10, n/60.
August 7 Pays $320 to Sure Shipping for freight charges associated with the August 6 purchase.
August 10 Returns to GamerGirl four game devices that were defective.
August 14 Pays the full amount due to GameGirl.
August 23 Sells 34 game devices purchased on August 6 for $140 each to customers on account. The total cost of the 34 game devices sold is $4,257.00. 2.
Required:
Record the period-end adjustment to cost of goods sold on August 31, assuming the company has no beginning inventory and ending inventory has a cost of $2,003.
Answer:
August 6
Debit: Inventory: (54 * $120) = $6480.00
Credit: Accounts Payable: $6,480.00
August 7 - shipping
Debit: Inventory $320.00
Credit: Cash $320.00
August 10
Debit: Accounts Payable :(4 * $120) = $480.00
Credit: Inventory $480.00
August 14
Debit: Accounts Payable : $(6480 - 480) = $6000.00
Credit: Inventory $60.00
Cash : $(6000 - 60) = $5940.00
(August 14th Inventory: $6000 × 1% = $60)
August 23
Debit: Accounts Receivable ($140*34) = $4760
Credit: sales Revenue $4760
August 23
Debit: Cost of Goods Sold $4,257.00
Credit: Inventory $4,257.00
Explanation:
INVENTORY:
Prompt What is market information?
Market information refers to data, facts, and insights related to a particular market or industry, which can be used to analyze and understand market dynamics, trends, and opportunities.
What is market?
Market includes information about market size, market share, customer preferences, competitor analysis, pricing trends, demand and supply dynamics, regulatory changes, technological advancements, consumer behavior, and other relevant factors that impact the performance and competitiveness of a market. Market information is essential for businesses, policymakers, investors, and other stakeholders to make informed decisions, develop marketing strategies, identify business opportunities, assess risks, and stay competitive in the marketplace. It is typically gathered through market research, data analysis, market reports, surveys, and other sources, and it plays a crucial role in shaping business strategies and market outcomes.
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The following credit sales are budgeted by Sunland Company: January $274000 February 350000 March 470000 April 360000 The company's past experience indicates that 70% of the accounts receivable are collected in the month of sale, 20% in the month following the sale, and 8% in the second month following the sale. The anticipated cash inflow for the month of April is
Answer:
$374,000
Explanation:
April Collection = $360000 x 70 % + $ 470000 x 20 % + $ 350000 x 8 %
= $374,000
The anticipated cash inflow for the month of April is $374,000
1. The petty cash fund of the Brooks Agency is established at $280. At the end of the current period, the fund contained $198 and had the following receipts: entertainment, $50; postage, $24; and printing, $8. Prepare journal entries to record (a) establishment of the fund and (b) reimbursement of the fund at the end of the current period.
Answer:
1a
Dr Petty cash $ 280
Cr Cash $ 280
1b
Dr Entertainment $ 50
Dr Postage $ 24
Dr Printing $ 8
Cr Cash $ 82
Explanation:
A. Preparation of the journal entries to record establishment of the fund
Dr Petty cash $ 280
Cr Cash $ 280
( To record petty cash fund created)
1b. Preparation of the journal entries to record
reimbursement of the fund at the end of the current period.
Dr Entertainment $ 50
Dr Postage $ 24
Dr Printing $ 8
Cr Cash $ 82
(50+24+8)
(To Record reimbursement of the fund)
Problem 11-11 Calculating Operating Leverage [LO4] At an output level of 62,000 units, you calculate that the degree of operating leverage is 3.7. The output rises to 67,000 units. What will the percentage change in operating cash flow be? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Will the new level of operating leverage be higher or lower?
Answer:
Percentage change in sales = [(Ending value - Beginning value) / Beginning value] * 100
Percentage change in sales = [($67,000 - $62,000) / $62,000] * 100
Percentage change in sales = 0.080645
Percentage change in sales = 8.0645%
Percentage change in OCF = Percentage change in sales * Degree of operating leverage
Percentage change in OCF = 8.0645% * 3.7
Percentage change in OCF = 29.84%
Will the new level of operating leverage be higher or lower?
As the sales increase, contribution margin will remain constant but operating margin percentage will rise. Therefore, this leads to fall in operating leverage.
Once you have chosen a topic, what should you do before beginning the research process?
Find as many possible facts and details on c. Discuss your idea with others
your topic
a. Find as many possible facts and details on your topic
b. Choose a position
C.Discuss your idea with others
d. None of these
Answer:
the correct answer is option A.
Answer:
C: Discuss your idea with others
Explanation:
the answer IS NOT A, that other person is wrong!!
Although RICO was passed to prevent gangsters from taking money they earned illegally and investing it in legitimate businesses, it is now often used against businesspeople who break the law.
a) true
b) false
Using the estimated sales and production of 140,000 boxes of Chap-Off, the Accounting Department has developed the following manufacturing cost per box: Direct material $ 3.70 Direct labor 2.00 Manufacturing overhead 1.60 Total cost $ 7.30 The costs above relate to making both the lip balm and the tube that contains it. As an alternative to making the tubes for Chap-Off, Silven has approached a supplier to discuss the possibility of buying the tubes. The purchase price of the supplier's empty tubes would be $1.20 per box of 24 tubes. If Silven Industries stops making the tubes and buys them from the outside supplier, its direct labor and variable manufacturing overhead costs per box of Chap-Off would be reduced by 10% and its direct materials costs would be reduced by 20%. Required: 1. If Silven buys its tubes from the outside supplier, how much of its own Chap-Off manufacturing costs per box will it be able to avoid
Answer:
Silven Industries
If Silven buys its tubes from the outside supplier, it will be able to avoid $1.10 of its own Chap-Off manufacturing costs per box
Explanation:
a) Data and Calculations:
Estimated Production and Sales Units of Chap-Off = 140,000 boxes
Manufacturing cost per box: Avoidable costs
Direct material $ 3.70 $0.74 ($3.70 * 20%)
Direct labor 2.00 0.20 ($2.00 * 10%)
Manufacturing overhead 1.60 0.16 ($1.60 * 10%)
Total cost $ 7.30 $1.10
Outside supplier's price for tubes = $1.20 per box
b) Unless there an alternative use for the machine used in making the tubes internally exists, it may not be cost-effective for Silven to buy from the outside supplier. Alternatively, it should renegotiate a price per box that is less than $1.10 in order to stop making the tubes internally.
Michael works as a sales representative for an oilfield supply business in West Texas. He sells highly technical safety equipment to his customers. Michael visits his customers on a regular basis to provide information about new products and to solve technical problems that may arise as his clients use the equipment. For Michael, personal selling works better than other forms of promotion because of _______.
Answer:
This question is incomplete, the options are missing. The options are the following:
a) The value of the product
b) The role of social media
c) The complexity of the product
d) The number of potential customers
And the correct answer is the option C: The complexity of the product.
Explanation:
To begin with, in the area of marketing when it comes to designing and developing a strategy for the company's campaign the for "Ps" are the essentials matter to have in mind. One of them, the "P" for promotion focus on the "how" to sell the product to the target audience and that matter the expertise find varies ways to do it. The personal selling is one of them and in this case actually the most appropiate one due to the complexity of the product that is being sold. Michael is right because this strategy allows the representative, who is an expertise in the product itself, to explain every little detail of the good and how it will adjust to every situation and more. So in order to accomplish the comfort of the client, the presence of the sale's agent is necessary and helpful in this case.
How many people started new businesses in 2011 according to the Kauffman Foundation?
A) 5%
B) 320 of every 100,000 adults in this country
C) 350 of every 100,000 adults in this country
D) 320,000
Answer:
B) 320 of every 100,000 Adults in this country.
Explanation: this is correct!
Consider the following scenarios.
a. Scenario one has two options available.
Option A: There is a 50% chance of winning $1,000 and a 50% chance of winning $0.
Option B: There is a 100% chance of receiving $500.
A risk-averse person (Click to select) will choose option A will choose option B will be indifferent between options A and B might choose option A or might choose option B .
b. Scenario two has two different options available.
Option C: There is a 40% chance of winning $90 and a 60% chance of winning $110.
Option D: There is a 100% chance of winning $90.
A risk-averse person (Click to select) will choose option C will choose option D will be indifferent between options C and D might choose option C or might choose option D .
c. Scenario three has two more options available.
Option E: There is a 50% chance of winning $0 and a 50% chance of winning $100.
Option F: There is a 50% chance of winning $20 and a 50% chance of winning $60.
A risk-averse person (Click to select) will choose option E will choose option F will be indifferent between options E and F might choose option E or might choose option F .
Answer:
Scenario 1: A risk-averse person will choose option B.
Scenario 2: A risk-averse person will choose option D.
Scenario 3: A risk-averse person will choose option F.
Explanation:
a) Data and Calculations:
Scenario 1:
Option A Winning Expected
Probability Value
50% $1,000 $500
50% 0 0
Total winning = $500
Option B Winning Expected
Probability Value
100% $500 $500
0% 0
Total winning = $500
Scenario 2:
Option C Winning Expected
Probability Value
40% $90 $36
60% 110 66
Total winning = $102
Option D Winning Expected
Probability Value
100% $90 $90
Scenario 3:
Option E Winning Expected
Probability Value
50% $0 $0
50% 100 50
Total winning = $50
Option F Winning Expected
Probability Value
50% $20 $10
50% 60 30
Total winning = $40
b) The risk-averse person tries to avoid risks at all times. Her choice of investment favors an option that has a 100% probability of winning, thereby eliminating risks in all ramifications. This is why she is never indifferent between two options as she factors in the probability of losing.
Signet Automobiles Inc. has launched a new sport utility vehicle (SUV). Its advertising firm develops a marketing message and places advertisements in leading newspapers and on social media sites to inform consumers about the new SUV and its various features. In the context of the communication process, Signet Automobiles is the _______.
Answer:
sender
Explanation:
In the communication process, Signet Automobiles is the sender of the message, that is, the element that transmits the message to the receiver.
The communication process is formed by the following elements: sender, channel, message, code and receiver. The main objective of the process is to transmit a message using a code and a communication channel to a receiver. In this case, the receiver is the target audience of the company Signet Automobiles, which will receive the advertising message through the communication channel, which is newspapers and social media sites.
The communication process is essential for every company, the transmission of messages effectively is that it will assist the company in its correct operation in the internal and external environment, and it is an essential tool for the positioning of a company in the market.
Robert Parish Corporation purchased a new assembly process on August 1, 2017. The cost of this machine was $117,900. The company have a salvage value of $12,900 at the end of its service life. Its life is estimated 21,000 hours. Year-end is December 31. estimated that the machine would at 5 years, and its working hours are estimated at Instructions Compute the depreciation expense under the following methods. Each of the following should be considered unrelated.
(a) Straight-line depreciation for 201:7.
(b) Activity method for 2017, assuming that machine usage was 800 hours.
(c) Sum-of-the-years-digits for 2018.
(d) Double-declining-balance for 2018.
Answer:
8750
4000
$74,060
39,300
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
(117,900 - 12,900) / 5 = $21,000
the machine was used for 5 months in 2017. the depreciation expense in 2017 = 5/12 x $21,000 = $8750
b. Activity method based on hours worked = (hours worked that year / total hours of the machine) x (Cost of asset - Salvage value)
(800 / 21,000) x (117,900 - 12,900) = $4000
c. Sum-of-the-year digits = (remaining useful life / sum of the years ) x (Cost of asset - Salvage value)
remaining useful life in 2018 = (4 + 7/12) + 3 + 2 + 1 = 10.58
10.58 / 15 x (117,900 - 12,900) = $74,060
Four Seasons Industries has established direct labor performance standards for its maintenance and repair shop. However, some of the labor records were destroyed during a recent fire. The actual hours worked during August were 2,250, and the total direct labor budget variance was $1,170 unfavorable. The standard labor rate was $14.40 per hour, but recent resignations allowed the firm to hire lower-paid replacement workers for some jobs, and this produced a favorable rate variance of $3,150 for August.
Required
a. Calculate the actual direct labor rate paid per hour during August. (Do not round intermediate calculations. Round your answer to 1 decimal place.) ual direct labor rate per hour
b. Calculate the dollar amount of the direct labor efficiency variance for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance). t labor efficiency
c. Calculate the standard direct labor hours allowed for the actual level of activity during August. (Hint: Use the formula for the efficiency variance and solve for the missing information.) Standard direct labor hours
Answer:
a. Actual labor Rate:
(AR-SR)*Actual hours = Labor rate variance
Labor rate variance/Actual hours = AR-SR
AR = (Labor rate variance/Actual hours) + SR
Actual rate= (-3,150/2,250) + 14.4
Actual rate = -1.4 + 14.4
Actual rate = 13 per hour
Note: Labor rate variance is -3,150, Standard rate is 14.4 per hour and Actual hours is 2,250.
b. Direct labour efficiency variance = Total direct labour budget variance - Direct labour rate variance
Direct labour efficiency variance = $1,170 - (-$3,150)
Direct labour efficiency variance = $4,320 Unfavourable
c. Direct Labour efficiency variance = (AH-SH)*SR
4,320 = (2,250 - SH)*14.4
2,250 - Standard hours = 4,320/14.4
2,250 - Standard hours = 300
Standard hours = 2,250 - 300
Standard hours = 1,950