Answer:
$2,250 favorable
Explanation:
The direct material price variance is computed as;
= ( Standard price - Actual price ) × Actual quantity
Given that;
Standard price = $8.75
Actual price = $8
Actual quantity = 3,000 units
Direct material price variance
= ( $8.75 - $8 ) × 3,000
= ( $0.75 ) × 3,000
= $2,250 favorable
Marigold has the following inventory information. July 1 Beginning Inventory 30 units at $16 $480 7 Purchases 80 units at $22 1760 22 Purchases 20 units at $18 360 $2600 A physical count of merchandise inventory on July 31 reveals that there are 35 units on hand. Using the average-cost method, the value of ending inventory is
Answer:
$640
Explanation:
Calculation for the value of ending inventory using average-cost method
Value of ending inventory=[(2,600÷30 units+80 units+20 units)*35]
Value of ending inventory=[($2600 ÷ 130) × 35]
Value of ending inventory=$20×35
Value of ending inventory=$640
Therefore Using the average-cost method, the value of ending inventory is $640
A company used straight-line depreciation for an item of equipment that cost $16,950, had a salvage value of $4,200, and had a five-year useful life. After depreciating the asset for three complete years, the salvage value was reduced to $1,860 and its total useful life was increased from 5 years to 6 years. Determine the amount of depreciation to be charged against the machine during each of the remaining years of its useful life:
Answer:
Annual depreciation= $2,480
Explanation:
Giving the following information:
Total Purchase price= $16,950
Useful life= 5 years
Residual value= $4,200
First, we need to calculate the accumulated depreciation at the end of year 3.
Annual depreciation= (Total Purchase price - salvage value)/estimated life (years)
Annual depreciation= (16,950 - 4,200) / 5
Annual depreciation= $2,550
Accumulated depreciation= 2,550*3= $7,650
Now, we can calculate the new depreciation expense:
Depreciable value= 16,950 - 7,650= $9,300
Useful life= 3 years
Salvage value= $1,860
Annual depreciation= (9,300 - 1,860) / 3
Annual depreciation= $2,480
Service firms generally include which of the following as product or job costs: _________
a. Utilities
b. Direct labor wages
c. Supervisor salaries
d. Service firms do not track job costs
Answer: Direct labor wages
Explanation:
Answer:
B.) Direct Labor Wages
Explanation:
The service firms track the costs of that services that they provide. Thats why service firms generally include Direct labor Wages as a product or job costs
Hope this helped a little!
According to the Coase theorem, private parties can solve the problem of externalities if a. the number of parties involved is sufficiently large. b. the cost of bargaining is small. c. property rights aren't clearly defined. d. the initial distribution of legal rights favors the person being adversely affected by the externality.
Answer:
b. the cost of bargaining is small.
Explanation:
The basic concepts behind the Coase Theorem is that conflicts can be solved regardless of the original rights and a solution that benefits all parties can be found as long as transaction costs (bargaining costs) are low or nonexistent, and the output of the negotiation process efficiently allocates resources. This theorem is useful when you are trying to find solutions to negative externalities.
The increase in unemployment that occurs during recessions and depressions is called Group of answer choices normal unemployment. cyclical unemployment. frictional unemployment. structural unemployment.
Answer:
cyclical unemployment.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Cyclical unemployment rate (CU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Natural Rate of Unemployment (NU).
A cyclical unemployment can be defined as a type of unemployment which is typically related to changes in the business, economy or industry cycle such as recession, governmental policies etc.
Mathematically, cyclical unemployment rate can be calculated using the formula;
[tex]Cyclical \; unemployment \; rate \; (CU) = Actual \; unemployment \; rate \; (AU) - Natural \;unemployment \; rate \; (NU)[/tex]
Hence, the increase in unemployment that occurs during recessions and depressions is called cyclical unemployment
Your coin collection contains 42 1948 silver dollars. If your grandparents purchased them for their face value when they were new, how much will your collection be worth when you retire in 2057, assuming they appreciate at a 8 percent annual rate
Answer:
$184,687.98
Explanation:
assuming that silver dollars were issued in 1948 (actually no silver dollars were produced that year), your grandparents purchased them at $42. From 1948 to 2057 there are 109 years:
future value = present value x (1 + r)ⁿ
present value =$42r = 8%n = 109 yearsfuture value = $42 x 1.08¹⁰⁹ = $184,687.98
Catherine Jones has determined the following information about her own financial situation. Her checking account is worth $900 and her savings account is worth $1,400. She owns her own home that has a market value of $98,000. She has furniture and appliances worth $12,000 and a laptop worth $3,600. She has a car worth $13,000. She has recently purchased a mutual fund worth $6,000 and she has a retirement account worth $43,000. What is the total value of her assets
Answer: $177,900
Explanation:
Her Assets are;
Checking account, Savings account, Home, Furniture and appliances, Laptop, Car, Mutual fund and Retirement account
Total value therefore is;
= 900 + 1,400 + 98,000 + 12,000 + 3,600 + 13,000 + 6,000 + 43,000
= $177,900
You are the manager of a bank. You need to decide whether to approve a 10-year loan application from a 25 year old student to finance her MBA. The loan will yield a loss of $250 per year to the bank for the duration of the loan. After 10 years, the student will likely buy other products and therefore she will yield a profit of $500 per year until she is 65. After age 65, she will yield a profit of $1,000 per year until she is 85, when she will stop being a customer. The likelihood that she stops being a customer after she repays her MBA loan is 2% each year. The discount rate that the bank uses is 7% per year.
Would you approve the loan? Please explain with numerical support.
Answer and Explanation:
The computation is shown below:
Present value of loss because of giving the loan to her is
= PVAF (7%, 10 years) × $250
= 7.02358 × $250
= $1,755.9
Now
The Present value of gain after repayment of the loan is
Till age of 65
($500, age 35 years to 65 years i.e. 30 years) is
= [PVAF (7%, 40 years) - PVAF (7%, 10 years)] × 0.98 (probability of failure) × $500
= (13.3317 - 7.02358) × 0.98 × $500
= $3,090.98 (A)
Till age of 85
($1000, age 65 years to 85 years i.e. 20 years)
= [PVAF (7%, 60 years) - PVAF (7%, 40 years)] × 0.98 (probability of failure) × $1,000
= (14.03918 - 13.3317) × 0.98 × $1,000
= $693.33 (B)
Now
Expected inflow from the student post repayment of the loan is
= (A) + (B)
= $3,784.31
Now expected net gain is
= $3,784.31 - $1,755.9
= $2,028.41
Here we exclude the period from 25 to 35 years and at later from 25 years to 65 years
Total assets $800,000 $1,000,000Net sales 720,000 650,000Gross profit 352,000 320,000Net income 108,000 117,000Weighted average number of common shares outstanding 90,000 90,000Market price of common $42 $39The return on assets for 2022 is
Answer:
$5000
Explanation:
Tatum Company has four products in its inventory. Information about the December 31, 2021, inventory is as follows: Product Total Cost Total Net Realizable Value 101 $ 154,000 $ 117,000 102 111,000 127,000 103 77,000 67,000 104 47,000 67,000 Required: 1. Determine the carrying value of inventory at December 31, 2021, assuming the lower of cost or net realizable value (LCNRV) rule is applied to individual products. 2. Assuming that inventory write-downs are common for Tatum Company, record any necessary year-end adjusting entry.
Answer:
Tatum Company
1. The carrying value of inventory at December 31, 2021 is:
$342,000
2. Adjusting Journal Entry:
Debit Inventory write-downs $47,000
Credit Inventory $47,000
To record the write-down of inventory value to LCNRV.
Explanation:
a) Data and Calculations:
Product Total Cost Total Net Reali- LCNRV Write-downs
zable Value
101 $ 154,000 $ 117,000 $ 117,000 $ 37,000
102 111,000 127,000 111,000 0
103 77,000 67,000 67,000 10,000
104 47,000 67,000 47,000 0
Total $ 389,000 $ 378,000 $ 342,000 $ 47,000
On December 31, 2019, Krug Company prepared adjusting entries that included the following items: Depreciation expense: $36,000; Accrued sales revenue: $34,000; Accrued expenses: $18,000; Used insurance: $8,000; the insurance was initially recorded as prepaid. Rent revenue earned: $6,000; the rent was initially prepaid by the tenant and credited to unearned rent revenue. If Krug Company reported total liabilities of $140,000 prior to adjusting entries, how much are Krug's total liabilities after the adjusting entries
Answer:
$152,000
Explanation:
Calculation for How much was Krug's total liabilities after the adjusting entries
Reported total liabilities $140,000
Add Accrued expenses $18,000
Less Rent revenue earned ($6,000)
Total liabilities $152,000
($140,000+$18,000-$6,000)
Therefore the amount of Krug's total liabilities after the adjusting entries will be $152,000
Irrespective of whether a firm produces or shuts down in the short run, fixed cost is equal to its _____
a. average variable cost.
b. total cost.
c. sunk cost.
d. total revenue.
e. marginal cost.
Answer:
c. sunk cost.
Explanation:
Because in short run, fixed cost doesn't changes with output, that is whether we produce or not, we have to pay for it, so it is considered as Sunk cost. Also like Sunk cost, we don't make decisions with fixed costs.
Omar and Janet decide to revise their budget for Rings and Things. What suggestions about labor
costs would you make, if the goal is to improve the business's cash flow?
Answer:
Review labor costs downwards
Explanation:
Janet and Omar should consider revising their budget for labor downwards. In the current state, labor costs are $1000, which is approximately 57 percent of all costs. As a rule of thumb, labor costs should be between 25 to 35 percent of total costs. This implies that Janet and Omar's labor costs are very high in relation to the other costs.
Janet and Omar should aim for a profit. Ideally, a 25 to 30 percent profit is a good target for such a business. For this to happen, they need to cut down labor to between $300 to a maximum of $400.
Sensitivity analysis measures: Group of answer choices Changes in the depreciation tax shield over the life of the project Changes in production levels with changes in revenues Changes in taxes payable with changes in a stock's current price changes in the retention rate with changes in net income Changes in fixed costs with changes in the operating cash flow None of the above
Answer:
None of the above
Explanation:
A sensitivity analysis measures how under a certain set of assumptions, different values of an independent variable influence the dependent variable. It is also known as what if analysis and it is based on various assumptions. Options given in the question like changes in depreciation tax shield over a project's life, changes in production levels with the changes in revenue etc. are absolutely certain to an extent, or in other words, bound to happen.
The value of a p value. In a critical commentary on the use of significance testing, Lambdin (2012) explained, "If a p < .05 result is ‘significant,’ then a p = .067 result is not ‘marginally significant’" (p. 76). Explain what the author is referring to in terms of the two decisions that a researcher can make.
Answer:
The author is referring to the acceptance or rejection of the null hypothesis because of significance testing.
Explanation:
In significance testing, if the result is statistically significant with p < 0.05, the conclusion is that it is not probably caused by chance. Since statistical significance indicates a strong evidence against the null hypothesis, the null hypothesis is rejected by the researcher, and the alternative hypothesis is accepted. But, if the p = 0.67, the result is said to be not marginally significant, and the null hypothesis is not rejected. These two conclusions mean that the researcher's rejection or acceptance of a null hypothesis is decided by a thin margin, and this is why wrong conclusions can be made at times.
Short notes on foods for bee
Answer:
The answer to this question varies depending on what their role is in the hive. For example, many worker bees eat the same exact foods such as honey, pollen, and nectar. However, the elusive queen bees (less common in a hive) are typically fed a different diet while growing up to change their overall larval development.
Answer:
This is about honey bees
Nectar is the main source of carbohydrates for honey bees. Therefore we have to plant flowers to ensure a well rounded diet all times of the year.
NOTE that: Honey is still the best thing to feed your bees however you can also give them
Sugar Syrup
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 16,000 defective units that cost $5.50 per unit to manufacture. The units can be a) sold as is for $3.10 each, or b) reworked for $4.50 each and then sold for the full price of $8.60 each. What is the incremental income from selling the units as scrap and reworking and selling the units
Answer and Explanation:
The computation of the incremental income is as follows;
Particulars Sale as scrap Rework
Sales of reworked units
(16,000 × $8.60) $137,600
Sales of scrap units
(16,000 × $3.10) $49,600
Cost to rework units
(16,000 × $4.50) ($72,000)
Incremental income (loss) $49,600 $65,600
Ron, age 19, is a full-time graduate student at City University. During 2020, he received the following payments: Cash award for being the outstanding resident adviser $ 1,500 Resident adviser housing 2,500 State scholarship for ten months (tuition and books) 6,000 State scholarship (meals allowance) 2,400 Loan from college financial aid office 3,000 Cash support from parents 2,000 $17,400 Ron served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. What is Ron's adjusted gross income for 2020
Answer:
$3,900
Explanation:
Since meals are not considered "qualified educational expenses", the state scholarship must be included in Ron's adjusted gross income. The cash award he received for being an outstanding resident adviser is also included in his AGI. Total taxable income = $1,400 + $2,500 = $3,900
vanhoe Company reported the following results for the year ended December 31, 2021, its first year of operations: 2021 Income (per books before income taxes)$1510000 Taxable income 2700000 The disparity between book income and taxable income is attributable to a temporary difference which will reverse in 2022. What should Ivanhoe record as a net deferred tax asset or liability for the year ended December 31, 2021, assuming that the enacted tax rates in effect are 30% in 2021 and 25% in 2022
Answer:
the deferred tax liability for the year ended is $297,500
Explanation:
The computation of the net deferred tax or liability is as follows:
= (Taxable income - income before income taxes) × enacted tax rate
= ($2,700,000 - $1,510,000) × 0.25
= $1,190,000 × 0.25
= $297,500
Therefore the deferred tax liability for the year ended is $297,500
Hence, the same is to be considered
Marigold Corporation's December 31, 2020 balance sheet showed the following: 6% preferred stock, $20 par value, cumulative, 40000 shares authorized; 21000 shares issued $ 420000 Common stock, $10 par value, 3,000,000 shares authorized; 1,950,000 shares issued, 1,920,000 shares outstanding 20000000 Paid-in capital in excess of par value - preferred stock 69000 Paid-in capital in excess of par value - common stock 27500000 Retained earnings 9050000 Treasury stock (30,000 shares) 704000 Marigold's total paid-in capital was
Answer: $47,989,000
Explanation:
Total Paid-in capital = Preferred stock + Paid-in capital in excess of par value - preferred stock + Common stock + Paid-in capital in excess of par value - common stock
= 420,000 + 69,000 + 20,000,000 + 27,500,000
= $47,989,000
Why is the job market for administrative professionals growing ?
What effects do you think the constant haitian political crisis had on this field ?
Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000.The fair value of Float Is net assets was $1,850,000, and the book value was $1,500,000.The non controlling interest shares of Float Corp. are not actively traded. What is the total amount of goodwill recognized at the date of acquisition
Answer:
150,000
Explanation:
Answer:
$150,000
Explanation:
Calculation for the total amount of goodwill recognized at the date of acquisition
First step is to calculate the Cost(PP)
Cost(PP) =$1,600,000/.8
Cost(PP)= $2,000,000
Second step is to calculate the goodwill
to be recognized
Goodwill=$2,000,000- $1,850,000
Goodwill= 150,000
Therefore the total amount of goodwill recognized at the date of acquisition is $150,000
arrugia Corporation produces two intermediate products, A and B, from a common input. Intermediate product A can be further processed into Product X. Intermediate product B can be further processed into Product Y. The common input is purchased in batches that cost $90 each and the cost of processing a batch to produce intermediate products A and B is $36. Intermediate product A can be sold as is for $53 or processed further for $33 to make Product X that is sold for $80. Intermediate product B can be sold as is for $113 or processed further for $66 to make Product Y that is sold for $160. Required: a. Assuming that no other costs are involved in processing the common input or in selling products, what is the profit (loss) from processing one batch of the common input into the products X and Y
Answer:
if the firm processes A and B into X and Y, it will lose $25
Explanation:
total costs of producing product A and B = $90 (common input) + $36 (processing) = $126
selling price of A and B = $53 + $113 = $166
profit of selling A and B = $166 - $126 = $40
if A and B are processed further, the cost of X and Y = $126 + $33 + $66 = $225
selling price of X and Y = $80 + $160 = $240
profit of selling X and Y = $240 - $225 = $15
if the firm processes A and B into X and Y, it will lose $40 - $15 = $25
The manufacturing overhead budget at Rosco Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 2500 direct labor-hours will be required in January. The variable overhead rate is $5 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,010 per month, which includes depreciation of $3750. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Answer:
the cash disbursements for manufacturing overhead on the manufacturing overhead budget should be $51,760
Explanation:
The computation of the cash disbursements for manufacturing overhead is as follows
= company's budgeted fixed manufacturing overhead - depreciation + variable manufacturing overhead
= 2,500 direct labor hours × $5 - $3,750 + $43,010
= $12,500 + $39,260
= $51,760
Hence, the cash disbursements for manufacturing overhead on the manufacturing overhead budget should be $51,760
The common stock of the P.U.T.T. Corporation has been trading in a narrow price range for the past month, and you are convinced it is going to break far out of that range in the next three months. You do not know whether it will go up or down, however. The current price of the stock is $100 per share, the price of a three-month call option with an exercise price of $100 is $10, and a put with the same expiration date and exercise price costs $7.What would be a simple options strategy to exploit your conviction about the stock price?
Answer:
hollmvlnnj hooo jwaauq
During 2022, Pharoah Company reported cash provided by operations of $985000, cash used in investing of $851000, and cash used in financing of $236000. In addition, cash spent on fixed assets during the period was $342000. Average current liabilities were $806000 and average total liabilities were $2128000. No dividends were paid. Based on this information, what was Pharoah free cash flow
Answer:
$643,000
Explanation:
Calculation for Pharoah free cash flow
Using this formula
Free Cash flow =Cash provided by operations -Cash spent on fixed assets
Let plug in the formula
Free cash flow=$985000-$342000
Free cash flow=$643,000
Therefore Pharoah free cash flow will be $643,000
Supervisor: "He is going to rue missing today's training session." Why would he need to make up for missing today's training session? Why would he be mad about missing today's training session? Why would he regret missing today's training session? Why would he love missing today's training session? Why would he try missing today's training session?
Answer:
He would need to make up for missing today's training session because it is going to be a very important session that will help him a lot to improve his skills.
He would be mad about missing it because he would lose that valuable opportunity to improve his skills, as well as because he would have to make up for missing it.
He would regret missing the session for the same reason.
He tried missing today's session because he had other things on mind, more pressing tasks, the session is valuable but boring, etc.
The reason he would regret missing today's training session since it will be a crucial session that will greatly assist him in improving his talents.
What are training sessions?Training programs are seen as an important aspect of human resource development. It's a well-organized instrument for bringing certain abilities up to the target level using knowledge, training, coaching, and practice.
Thus, The reason he regret missing today's training session is the right as the training program is significant for him.
Learn more about training sessions here:
https://brainly.com/question/880788
Bramble Corp. incurs the following costs to produce 9300 units of a subcomponent: Direct materials $7812 Direct labor 10509 Variable overhead 11718 Fixed overhead 16200 An outside supplier has offered to sell Bramble the subcomponent for $2.85 a unit. If Bramble could avoid $3000 of fixed overhead by accepting the offer, net income would increase (decrease) by $(2052). $6534. $534. $(5697).
Answer:
$6534
Explanation:
Calculation for how much the net income would increase or (decrease)
First step is to calculate Total Costs to Make
Direct materials $7,812
Direct labor 10,509
Variable overhead 11,718
Avoidable Fixed 3,000
Total Costs to Make 33,039
Second step is to calculate the Total Costs to Buy
Costs to Buy= $2.85 * 9,300 units
Costs to Buy= $26,505
Last step is to calculate Net Income Increase or Decrease using this formula
Net Income Increase or Decrease = Costs to Make – Costs to Buy
Net Income Increase or Decrease =$ 33,039 -$26,505
Net Income Increase or Decrease = $6534
Therefore how much the net income would increase or (decrease) will be $6534
Company A decided to expand its office space and purchased 20 new desks and chairs from a supplier on July 1st. The desks and chairs were purchased on credit, and the company had 60 days to pay for them. Company A paid for the desks and chairs on August 15th. How would the transaction on August 15th impact the accounting equation of Company A
Answer:
The July 1st purchase increased assets (furniture) and liabilities (accounts payable).
The August 15th payment decreases assets (cash) and decreases liabilities (accounts payable is gone)
Explanation:
The important thing about a balance sheet or the accounting equation is that they must balance. If the total numbers on both sides are not the same, then you did something wrong. If assets increase, liabilities or equity must increase also, and vice versa.
Suppose that there is a tax of $1 per unit, and the elasticity of supply is 3 and the elasticity of demand is 2 (in absolute value). How much of the $1 tax is paid by sellers?
Answer:
The amount of the $1 tax that is paid by sellers is $0.40.
Explanation:
The amount of tax paid by the sellers can be calculated using the following 2 steps:
Step 1: Calculation of the tax burden of the seller
This can be calculated using the following formula:
Tax burden of the seller = Elasticity of demand / (Elasticity of demand + Elasticity of supply) ............... (1)
Where;
Tax burden of the seller = ?
Elasticity of demand = 2
Elasticity of supply = 3
Substituting the values into equation (1), we have:
Tax burden of the seller = 2 / (2 + 3) = 2 / 5 = 0.40, or 40%
Step 2: Calculation of the amount of the $1 tax that is paid by sellers
This can be calculated using the following formula:
Tax paid by the sellers = Tax amount * Tax burden of the seller .................. (2)
Where;
Tax amount = $1
Tax burden of the seller = 40%
Substituting the values into equation (2), we have:
Tax paid by the sellers = $1 * 40% = $0.40
Therefore, the amount of the $1 tax that is paid by sellers is $0.40.
Additional note:
The answer above clearly demonstrates what obtains in economics that when supply is more elastic than demand, sellers will bear less of the tax burden, and when demand is more elastic than supply, sellers will bear more of the tax burden.
From the question, the fact that the elasticity of supply is 3 and the elasticity of demand is 2 (in absolute value) indicates that supply is more elastic than demand. This makes the sellers to bear only 40% of the tax burden while the buyers bear the remaining 60%.
