Answer:
The net income (loss) would be $3 per each bathroom scale should the wholesaler price offer be accepted. The effect is going to be a massive loss and possibly bankruptcy to the manufacturer on his net income.
Explanation:
From the information given above,
To produce 1 bathroom scale,
Fixed cost = $5
Variable cost = $12
Total cost = fixed cost + variable cost = $ 17
Selling price = $35
Profit = Selling price - Total cost = $35 - $17 = $18
For the wholesaler, for each bathroom scale
Price offered = $15
Total cost = $ 17
Shipping cost = $1
Loss incurred = Price offered - (Total cost + Shipping cost)
= $15 - ($17 + $1) = $3
Total loss = Loss X Qty ordered
= $3 X $3800 = $11 400
This shows that, it would amount to great loss to the manufacturer going by the net income to be realized when the wholesaler price offer to be accepted.
On January 1, Year 1, Missouri Co. purchased a truck that cost $32,000. The truck had an expected useful life of 10 years and a $3,000 salvage value. Missouri uses the double declining-balance method. What is the amount of depreciation expense recognized in Year 2?
Answer:
Annual depreciation= $4,640
Explanation:
Giving the following information:
Purchase price= $32,000
Useful life= 10 years
Salvage value= $3,000
To calculate the depreciation expense, we need to use the following formula each year:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1:
Annual depreciation= 2*[(32,000 - 3,000) / 10]
Annual depreciation= $5,800
Year 2:
Annual depreciation= 2*[(29,000 - 5,800)/10]
Annual depreciation= $4,640
Luker Corporation uses a process costing system. The company had $162,500 of beginning Finished Goods Inventory on October 1. It transferred in $839,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $160,200. The entry to account for the cost of goods sold in October is:
Answer and Explanation:
The journal entry for cost of goods sold is as follows:
Cost of goods sold Dr $841,300
To Finished goods inventory $841,300
(Being the cost of goods sold is recorded)
The value of cost of goods sold is
= $162,500 + $839,000 - $160,200
= $841,300
Here the cost of goods sold is debited as it increased the expense while the finished goods inventory is credited as it decreased the assets
Consider the following limit order book for a share of stock. The last trade in the stock occurred at a price of $70. Limit Buy Orders Limit Sell Orders Price Shares Price Shares $69.75 800 $69.80 120 69.70 1,100 69.85 120 69.65 800 69.90 200 69.60 200 69.95 120 68.65 900 a. If a market buy order for 120 shares comes in, at what price will it be filled
Answer:
$69.80
Explanation:
Note, a market order is an order designed to execute an order immediately by matching the best available price on the sell order list.
When we look carefully at the sell order book, we observe that the only sell order containing the specified quantity of 120 units of shares at a price close to the market price is $69.80. Even though there are other cheaper orders are available, their order quantity does not match the market buy order for the 120 shares and thus would not be filled.
Axel wants to punish a subordinate that he personally dislikes. However, the subordinate fulfils all his job duties and produces excellent work. Both Axel and the subordinate are governed by very comprehensive policies and rules negotiated by a union in a collective agreement. Which contingency does Axel lack that prevents him from arbitrarily punishing the subordinate
Answer: Discretion
Explanation:
Discretion simply means having the freedom to make judgment and take decisions without the person having to get permission form someone else or referring to certain rules.
Based on the question, we can see that Alex lack the discretion contingency as he can't decide and make decisions on his own and therefore cannot punish the subordinate.
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,050. A total of 39 direct labor-hours and 261 machine-hours were worked on the job. The direct labor wage rate is $20 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $22 per machine-hour. The total cost for the job on its job cost sheet would be:
Answer:
Total cost= $8,572
Explanation:
First, we need to calculate the direct labor and allocated overhead:
Direct labor cost= 39*20= $780
Allocated overhead= 22*261= $5,742
Now, we can determine the total cost:
Total cost= direct material + direct labor + allocated overhead
Total cost= 2,050 + 780 + 5,742
Total cost= $8,572
Environmental Designs issues 10,000 shares of its $1 par value common stock at $25 per share. (1) Record the issuance of the stock. (2) Record the issuance of stock assuming it is no-par stock.
Answer:
1. Dr Cash 250,000
Cr Common Stock 10,000
Cr Additional Paid-in Capital 240,000
2. Dr Cash 250,000
Cr Common Stock250,000
Explanation:
(1) Preparation of the journal entry toRecord the issuance of the stock
Dr Cash 250,000
(10,000 shares × $25)
Cr Common Stock 10,000
(10,000 shares × $1)
Cr Additional Paid-in Capital
240,000
(250,000-10,000)
( Being to record the Issue of common stock above par)
(2) Preparation of the journal entry to Record the issuance of the stock assuming it is no-par value stock.
Dr Cash 250,000
(10,000 shares × $25)
Cr Common Stock250,000
(Being to record the Issue of no-par value common stock)
For a real interest rate of 12% per year and an inflation rate of 7% per year, the market interest rate per year is closest to:______
a. 4.7%
b. 7%
c. 12%
d. 19.8%
Answer: 19.8%
Explanation:
Interest rate = 12%
Inflation rate = 7%
Market Interest rate will be:
= 12% + 7% + 12%(7%)
= 0.12 + 0.07 + 0.12(0.07)
= 0.12 + 0.07 + 0.0084
= 0.1984
= 19.84%
Therefore, the market interest rate per year is closest to 19.8%
Sheridan Company has current assets of $74000, current liabilities of $100000, long-term assets of $176000 and long-term liabilities of $79000. Sheridan Company's working capital and its current ratio are:
Answer:
Current ratio = 0.74 : 1
Working Capital = ($26,000)
Explanation:
Given:
Current assets = $74,000
Current liabilities = $100,000
Find:
Working Capital
Current ratio
Computation:
Working Capital = CA - CL
Working Capital = $74,000 - $100,000
Working Capital = ($26,000)
Current ratio = [CA / CL]
Current ratio = [$74,000 / $100,000]
Current ratio = 0.74 : 1
Last weekend, Bob attended the university football game. At the opening kickoff, the crowd stood up. Bob therefore had to stand up as well to see the game. In this case, Bob was participating in A. a dynamic game of strategy, which is played over time. B. a cooperative game of strategy, where participants collectively choose their strategy to maximize their joint payoffs. C. a non-cooperative game of strategy, where participants independently choose their strategy to maximize their payoffs. D. an NCAA football game.
Answer:
a non-cooperative game strategy, where participants independently choose their strategy to maximize their payoffs.
Explanation:
From the question, we are informed about Bob, who attended the university football game last week . At the opening kickoff, the crowd stood up. Bob therefore had to stand up as well to see the game. In this case, Bob was participating in a non-cooperative game of strategy, where participants collectively choose their strategy to maximize their joint payoffs. Non-cooperative game strategy can be regarded as the rational ways economic agent relate with each other so that their goals can be achieved. In this game both the available strategies as well as the outcome from various choices will be listed.
Find an example of a large project that took more than a year to complete, preferably one near where you live. Describe some of the planning work completed for the project as part of project time and cost management. Summarize your findings
College football coaching requires that coaches design every facet of practices, set goals for their players, determine schedules, and even direct all of the plays during the games. College football coaching uses ____ type of managing.A. AchievementbConsideration
B. Background image
C. Charismad.D. Empathy.
Answer: d. initiating structure
Explanation:
An Initiating structure management style is one in which the leader is very involved in the activities of the subordinates. They organize tasks, initiate group action and define the team's goals and roles.
This is what happens in collage football. The coach designs everything even on the pitch during games. They are therefore using an initiating structure management style.
in constructing the official unemployment rate (U-3), which of the following does the bureau of labor statistics take into account? choose as many as are correct.
a)survey of firms reporting how many workers they laid off or fired
b)initial unemployment claimed field
c)the average unemployment rate over the last 12 months
d)The change in job posting from one year ago
e) survey of individuals reporting wheater they have job or active looked for work in the last 4 week
Answer:
e) survey of individuals reporting whether they have job or active looked for work in the last 4 week
Explanation:
The unemployment rate (U-3) reports on the number of jobless people that are actively seeking employment. The bureau of labor statistics considers individuals who have sought employment in the past four weeks. The bureau defines an unemployed person as one that is jobless but has actively sought work in the last four weeks.
This unemployment rate (U3) is the most reported and followed. The report is released monthly. The U3 unemployment rate is criticized for not being inclusive of all jobless people. For instance, it does not include discouraged job seekers or those not looking for work due to other factors such as caring for the sick and elderly at home.
Emily Smith files her tax return on the basis of a fiscal year. Her records show that she received income in November 2018 and February 2019 from which there was backup withholding ($100 and $50, respectively). Emily takes credit for what amount of backup withholding on her tax return for the fiscal year ending September 30, 2019
Answer:
$150
Explanation:
Calculation for what amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 will Emily takes credit for
Using this formula
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019= November 2018 backup withholding+February 2019 backup withholding
Let plug in the formula
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019=$100 + $50
Credit amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 = $150
Therefore the amount of backup withholding on her tax return for the fiscal year ending September 30, 2019 will Emily takes credit for will be $150
Crawford Company's standard fixed overhead cost is $6.00 per direct labor hour based on budgeted fixed costs of $600,000. The standard allows 1 direct labor hours per unit. During 2011, Crawford produced 110,000 units of product, incurred $630,000 of fixed overhead costs, and recorded 212,000 actual hours of direct labor.
Required:
What is the activity level on which Crawford based its fixed overhead rate?
Answer:
The answer is "[tex]\$ \ 100,000 \ hours[/tex]"
Explanation:
Budgeted fixed cost [tex]= \$ 600,000[/tex]
labour hours [tex]= \frac{ \$ 6 }{hour}[/tex]
[tex]\text{overhead rate} = \frac{ \text{Budgeted fixed cost}}{labour\ hours}[/tex]
[tex]= \frac{\$ \ 600, 000}{\$ \ 6}\\\\= \$ \ 100,000 \ hours[/tex]
On January 1, 2012, Vaughn Manufacturing purchased for $768000, equipment having a useful life of ten years and an estimated salvage value of $42600. Vaughn has recorded monthly depreciation of the equipment on the straight-line method. On December 31, 2020, the equipment was sold for $125000. As a result of this sale, Vaughn should recognize a gain of
Answer:
Gain= $9,860
Explanation:
Giving the following information:
Purchase price= $768,000
Salvage value= $42,600
Useful life= 10 years
First, we need to determine the annual depreciation and the accumulated depreciation at the moment of the sale:
Annual depreciation= (original cost - salvage value)/estimated life (years)
Annual depreciation= (768,000 - 42,600) / 10
Annual depreciation= $72,540
Accumulated depreciation= 72,540*9= $652,860
If the selling price is higher than the book value, the company made a gain from the sale:
Book value= 768,000 - 652,860= $115,140
Gain/loss= 125,000 - 115,140
Gain= $9,860
The economy has grown by 4% per year over the past 30 years. During the same period, the labor force has grown by 1% per year and the quantity of physical capital has grown by 5% per year. Each 1% increase in physical capital per worker is estimated to increase productivity by 0.4%. Assume that human capital has not changed during the past 30 years. How much has growing physical capital per worker contributed as a percentage of total productivity growth
Answer:
2%
Explanation:
Physical capital per worker contributed to productivity growth = Increased productivity per 1% physical capital * Quantity of physical capital growth rate
- Increased productivity per 1% physical capital = 0.4%
- Quantity of physical capital growth rate = 5%
So, Physical capital per worker contributed to productivity growth = 0.4%*5% = 2%.
The techniques, formulas, and essential explanations can be found in the archive provided below. If you have any questions, please ask them and I will gladly answer them.
How much contribution was made as total productivity growth?Output per worker has grown by 4% because output has grown by 4% and labor has grown by 1%.
For more information about productivity growth, refer below
https://brainly.com/question/6142956
Which of the following is an example of a disruptive innovation?
A. Use of smartphones with Internet access replacing use of
landlines
B. cruise line adding more destinations to their itineraries
C. Using different colored materials to create a line of shoes
D. An airline company purchasing a new jet
Answer: B
Explanation:
tell me if i'm wrong or right please! i rlly think its b tho
A: use of smartphones with internet access replacing use of landlines.
At the beginning of the current year, Trenton Company's total assets were $274,000 and its total liabilities were $188,000. During the year, the company reported total revenues of $119,000, total expenses of $89,000 and owner withdrawals of $18,000. There were no other changes in owner's capital during the year and total assets at the end of the year were $286,000. Trenton Company's debt ratio at the end of the current year is:
Answer:
The correct answer is 65.7%
Explanation:
According to the given scenario, the calculation of the debt ratio is as follows;
But prior to that the following calculations are needed
Ending total assets $286,000
Less: Ending stockholders equity
opening stockholders equity($274,000 - $188,000) $86,000
Add: Revenue $119,000
Less: Expenses $89,000
Less: Dividends $18,000
Ending stockholders equity $98,000
ending liabilities $188,000
Now
debt ratio = Total liabilities ÷ total assets
= $188,000 ÷ $286,000
= 65.7%
hence, the debt ratio is 65.7%
Your portfolio is 310 shares of Callahan, Inc. The stock currently sells for $101 per share. The company has announced a dividend of $3.20 per share with an ex-dividend date of April 19. Assuming no taxes, what is your portfolio value as of April 19?
Answer: $30,318
Explanation:
On the day the dividend is announced, the price of the stock usually goes down by the amount of dividend announced.
Price on April 19 = 101 - 3.20 = $97.80
Portfolio value = 97.80 * 310 shares
= $30,318
Pharoah Company started the year with total assets of $304000 and total liabilities of $244000. During the year the business recorded $633000 in revenues, $326000 in expenses, and dividends of $62000. The net income reported by Pharoah Company for the year was
Answer:
Net Income = $307,000
Explanation:
Given:
Total revenue = $633,000
Total expenses = $326,000
Find:
Net income
Computation:
Net Income = Total revenue - Total expenses
Net Income = $633,000 - $326,000
Net Income = $307,000
Diamond Machine Technology has invested $250,000 in developing a sharpener. Each sharpener costs $3 to make. In addition, fixed costs for the sharpener are $10,000. The company expects to sell 100,000 sharpeners this year to local supermarkets (you should assume this sales forecast is accurate). Diamond Machine's markup on sales is 30 percent, and it wants to earn a 20% ROI. Calculate both the markup price and the target-return price for the sharpener. How much profit can Diamond Machine earn this year if they sell at the markup price
Answer:
Diamond Machine Technology
a) Markup price = $4.03
b) Target return price = $3.60
Explanation:
Investment = $250,000
Cost of each sharpener = $3
Additional fixed costs = $10,000
Quantity of sharpeners to sell for the year= 100,000
Markup on sales = 30%
Return on Investment (ROI) = 20%
Markup price = (($3 * 100,000) + $10,000))* 1.3
= $403,000 /100,000 = $4.03
Return on Investment:
Profit for the year = 100,000($4.03 - $3) - $10,000 = $93,000
ROI = $93,000/$250,000 * 100 = 37.2%
Target revenue = (20% of $250,000) + $310,000 = $360,000
Target return price = $360,000/100,000 = $3.60
In the process of reconciling Marks Enterprises' bank statement for September, Mr. Marks compiles the following information: Cash balance per company books on September 30 $ 6,220 Deposits in transit at month-end $ 1,410 Outstanding checks at month-end $ 730 Bank charge for printing new checks $ 100 Note receivable and interest collected by bank on Marks' behalf $ 660 A check given to Marks during the month by a customer is returned by the bank as NSF $ 590 The adjusted cash balance per the books on September 30 is:
Answer:
$6,190
Explanation:
Particulars Amount
Cash balance per company books $6,220
Add: Note receivable and interest collected $660
Less: Bank charge for printing new checks $100
Less: NSF check $590
The adjusted cash balance $6,190
So, the adjusted cash balance per the books on September 30 is $6,190
Becoming future proof means ensuring that you _________.
a.
Dress in classic business attire, resistant to style trends
b.
Will stay employed during any chaotic changes in your industry
c.
Are proficient in at least two programming languages
d.
Wait for the newest technology trends to become popular before learning them
Answer:
b. Will stay employed during any chaotic changes in your industry
Explanation:
Becoming future proof means ensuring that you _________.
a.
Dress in classic business attire, resistant to style trends
b.
Will stay employed during any chaotic changes in your industry
c.
Are proficient in at least two programming languages
d.
Wait for the newest technology trends to become popular before learning them
Answer:
i believe the answer your looking for is
b.
Will stay employed during any chaotic changes in your industry
Explanation:
the reason i think this is the answer is becuase i took an edgucated guess on the unit test review on edge 2020 and this was the same question and i picked b and i was correct
You have received a job offer upon graduation from a prestigious consulting firm. Before you receive your first paycheck, you have decided to purchase a $100,000 Porsche. The Eighth National Bank of Okemos is willing to give you a 5-year loan, but they require a 10% down payment, and the interest rate will be 10% annually. How much will your monthly payments be
Answer:
The monthly payments will be $1,912.23.
Explanation:
This can be calculated using the formula for calculating the present value of an ordinary annuity as follows:
PV = P * ((1 - (1 / (1 + r))^n) / r) …………………………………. (1)
Where;
PV at 65 = Present value of the balance of the Porsche = $100,000 * (100% - Percentage of down payment) = $100,000 * (100% - 10%) = $90,000
P = monthly payments = ?
r = Monthly interest rate = Annual interest rate / 12 = 10% / 12 = 0.10 / 12 = 0.00833333333333333
n = number of months = 5 years * 12 months = 60
Substitute the values into equation (1) and solve for P, we have:
$90,000 = P * ((1 - (1 / (1 + 0.00833333333333333))^60) / 0.00833333333333333)
$90,000 = P * 47.0653690237519
P = $90,000 / 47.0653690237519
P = $1,912.23
Therefore, the monthly payments will be $1,912.23.
Cheyenne Company is considering two capital investment proposals. Estimates regarding each project are provided below: Project SoupProject Nuts Initial investment$400000 $600000 Annual net income46000 62000 Net annual cash inflow122000 153000 Estimated useful life5 years 6 years Salvage value0 0 The company requires a 10% rate of return on all new investments. Present Value of an Annuity of 1 Periods9% 53.890 3.791 3.696 3.605 64.486 4.355 4.231 4.111 The annual rate of return for Project Soup is
Answer:
the annual rate of return for project soup is 23%
Explanation:
The computation of the annual rate of return for project soup is shown below
Annual Rate of Return is
= Average Net Income ÷ Average Investment × 100
= $46,000 ÷ ($400,000 ÷ 2) × 100
= $46,000 ÷ $200,000 × 100
= 23%
Hence, the annual rate of return for project soup is 23%
The same is relevant and considered
Household purchases of durable goods $1,293 Household purchases of nondurable goods $1,717 Household purchases of services $301 Household purchases of new housing $704 Purchases of capital equipment $192 Inventory changes $374 Purchases of new structures $611 Depreciation $117 Salaries of government workers $1,422 Government expenditures on public works $553 Transfer payments $777 Foreign purchases of domestically produced goods $88 Domestic purchases of foreign goods $120 Note that depreciation is the value loss of the durable goods purchased before this year. What was country A's GDP in 2019
Answer:
The correct answer is $7,253
Explanation:
According to the given scenario, the calculation of the country A GDP in the year 2019 is as follows:
The Country's GDP is
= Net Consumption + Net investment + government purchase + net export (export-import)
= ($1,293 + $1,717 + $301) + ($704 + $310 + $374 + $611) + ($1,422 + $553) +($88 - $120)
= $3,311 + $1,999 + $1,975 - 32
= $7,253
Therefore , Country A's GDP is $7,253
Which of the following would not tend to make a manufacturer choose a perpetual inventory system? A high volume of sales transactions and a manual accounting system. Management wants information about quantities of specific products. Items in inventory with high per unit costs. A low volume of sales transactions and a computerized accounting system.
Answer:
A high volume of sales transactions and a manual accounting system.
Which of the following is one of the steps for recognizing revenue? Multiple Choice Identify the performance obligations of the contract. Determine whether bad debts can be reasonably estimated. Estimate the total transaction price of the contract based on fair value. Allocate all revenue to the performance obligation with the largest stand-alone selling price.
A) Identify the performance obligations of the contract.
B) Identify the contract with the customer.
C) Estimate the total transaction price of the contract based on the sum of the stand-alone selling prices of the goods and services in the contract.
D) Allocate the transaction price to the performance obligations.
- A performance obligation is a promise to deliver a good or provide a service (or a series of distinct goods or services that are substantially the same and that have the same pattern of transfer to the customer).
Under a perpetual inventory system, acquisition of merchandise for resale is debited to the Cost of Goods Sold account. the Supplies account. the Inventory account. the Purchases account.
Answer:
C. the Inventory account.
Explanation:
Under a perpetual inventory system, acquisition of merchandise for resale is debited to the Inventory account.
Polk Company manufactures basketballs. Materials are added at the beginning of the production process and conversion costs are incurred uniformly. Production and cost data for the month of July 2016 are as follows. Production Data - Basketballs Units Percentage Complete Work in process units, July 1 500 60% Units started into production 1,000 Work in process units, July 31 600 40% Cost Data - Basketballs Work in process, July 1 Materials $750 Conversion Costs 600 $1,350 Direct materials 2,400 Direct labor 1,580 Manufacturing overhead 1,240 Instructions: Calculate the following The equivalent units of production for materials and conversion costs. The units costs of production for materials and conversion costs. The assignment of costs to units transferred out and in process at the end of the accounting period. Prepare a production cost report for the month of July for the basketballs
Answer and Explanation:
The computation is shown below:
a.
1. Calculation of the equivalent units
Particulars Physical units % Material % Conversion cost
Units transferred
out 900 100% 900 100% 900
Ending
work in process 600 100% 600 40% 240
Equivalent
units 1,500 1,140
2. Cost per equivalent unit is
Particulars Material Conversion cost
Beginning
inventory $750 $600
Cost during
period $2,400 $2,820
Total cost $3,150 $3,420
Divided by
Equivalent
units $1,500 $1,140
Cost per
equivalent unit $2.1 $3
3. Transferred out cost is
= (3 + 2.1) × 900
= $4,590
And, the ending work in process cost is
= (600 ×$2.1) + (240 × $3)
= $1,960
2. Now the preparation of the production report is presented below:
Beginning work in process $1,350
Cost during period $5,220
Total cost accounted for $6,570
Transferred out cost $4,590
Ending work in process $1,960
Total cost accounted as $6,570
