The present fee of the perpetuity is $250,000.
The gift value of perpetuity may be calculated through the usage of the method:
PV = Payment / Interest Rate
In this case, the once-a-year charge is $10,000 and the hobby price is 4% compounded annually. To calculate the present price, we divide the yearly fee by using the interest price.
PV = $10,000 / 0.04
PV = $250,000
Therefore, the present fee of the perpetuity is $250,000. This way that if we discount all of the destiny cash flows of $10,000 according to year at a 4% hobby fee, the sum of their gift values may be $250,000.
This represents the amount of money that could need to be invested now to generate an annual payment of $10,000 indefinitely at the given hobby charge. It is vital to note that the present price represents the price of future coin flows in cutting-edge bucks, accounting for the time fee of cash.
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Selecting an Allocation Base and Analyzing Manufacturing Overhead [LO 2-3, 2-5] Amberjack Company is trying to decide on an aliocation base to use to assign manufacturing overhead to jobs. The company has always used direct labor hours to assign manufacturing overhead to products, but it is trying to decide whether it should use a different allocation base such as direct labor dollars or machine hours. Actual and estimated data for manufacturing overhead, direct labor cost, direct labor hours, and machine hours for the most recen fiscal year are summarized here: Required: 1. Based on the compary's current allocation base (direct labor hours), compute the following: o. Predetermined overhead rate. (Round your answer to 2 decimal places.) b. Applied manufacturing overhead. (Round your intermediate calculotions to 2 decimal places and final answer to the nearest. whole dollor amount) c. Over-or underapplied manufacturing overhead. (Round your intermediate colculations to 2 decimal piaces and final answer to the nearest whole dollar amount.) 2. If the company had used direct labor dollars (instead of direct labor hours) as its allocation base, compute the following: 0. Predetermined overhead rate (Round your onswer to 2 decimol ploces, L.e. 3.63\%) b. Applied manufacturing overhead, (Round your intermediate calculotions to 2 decimal ploces and final answer to the nearest whole dollor amount.) c. Over-or underapplied manufacturing overhead. (Round your intermediote calculations to 2 decimal ploces and final answer to the nearest whole dollar amount.) 3. If the company had used machine hours (instead of direct labor hours) as its allocation base, compute the following o. Predetermined overhead rate. (Round your onswer to 2 decimol places.) b. Applied manufacturing overhead (Round your intermediate calculations to 2 decimal ploces and final answer to the nearest. whole dollar amount.) c. Over. or underapplied manufactuting overhead. (Round your intermediate calculations to 2 decimal places and final answer to the neorest whole dollor omount) 4. Based on last year's data alone, which allocation base would have provided the most accurate measure for applying manufacturing overthead costs to production?
The company has always used direct labor hours to assign manufacturing overhead to products, Underapplied manufacturing overhead = $103,140.
1. Calculation of predetermined overhead rate, applied manufacturing overhead and over or underapplied manufacturing overhead on the basis of direct labor hours allocated to jobs are given below:
a. Calculation of Predetermined overhead rate, Predetermined overhead rate = Estimated overhead costs/Estimated allocation base, Predetermined overhead rate = $780,000/60,000 hours, Predetermined overhead rate = $13 per direct labor hour
b. Calculation of Applied manufacturing overhead Manufacturing overhead applied = Predetermined overhead rate x actual direct labor hours, Manufacturing overhead applied = $13 x 62,000 hours, Manufacturing overhead applied = $806,000
c. Calculation of Over or underapplied manufacturing overhead, Overapplied manufacturing overhead = Applied manufacturing overhead - Actual manufacturing overhead, Overapplied manufacturing overhead = $806,000 - $780,000 Overapplied manufacturing overhead = $26,000
2. Calculation of Predetermined overhead rate, applied manufacturing overhead, and over or underapplied manufacturing overhead based on direct labor dollars allocated to jobs are given below:
a. Calculation of Predetermined overhead rate, Predetermined overhead rate = Estimated overhead costs/Estimated allocation base, Predetermined overhead rate = $780,000/$400,000, Predetermined overhead rate = 195%
b. Calculation of Applied manufacturing overhead Manufacturing overhead applied = Predetermined overhead rate x actual direct labor cost, Manufacturing overhead applied = 195% x $465,000, Manufacturing overhead applied = $906,750
c. Calculation of Over or underapplied manufacturing overhead, Overapplied manufacturing overhead = Applied manufacturing overhead - Actual manufacturing overhead, Overapplied manufacturing overhead = $906,750 - $780,000 Overapplied manufacturing overhead = $126,750
3. Calculation of Predetermined overhead rate, applied manufacturing overhead and over or underapplied manufacturing overhead based on machine hours allocated to jobs are given below:
a. Calculation of Predetermined overhead rate, Predetermined overhead rate = Estimated overhead costs/Estimated allocation base, Predetermined overhead rate = $780,000/90,000 hours, Predetermined overhead rate = $8.67 per machine hour
b. Calculation of Applied manufacturing overhead Manufacturing overhead applied = Predetermined overhead rate x actual machine hours, Manufacturing overhead applied = $8.67 x 78,000 hours, Manufacturing overhead applied = $676,860
c. Calculation of Over or underapplied manufacturing overhead, Underapplied manufacturing overhead = Actual manufacturing overhead - Applied manufacturing overhead, Underapplied manufacturing overhead = $780,000 - $676,860, Underapplied manufacturing overhead = $103,140
4. Based on last year's data alone, machine hours would have provided the most accurate measure for applying manufacturing overhead costs to production.
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A widget manufacturer currently produces 200,000 units a year. It buys widget lids from an outside supplier at a price of $2 a lid. The plant manager believes that it would be cheaper to make these lids rather than buy them. Direct production costs are estimated to be only $1.50 a lid. The necessary machinery would cost $150,000 and would last 10 years. This investment could be written off for tax purposes using the seven-year tax depreciation schedule. The plant manager estimates that the operation would require additional working capital of $30,000 but argues that this sum can be ignored since it is recoverable at the end of the 10 years. If the company pays tax at a rate of 35% and the opportunity cost of capital is 15%, would you support the plant manager’s proposal? State clearly any additional assumptions that you need to make.
Based on the information provided, to determine whether the plant manager's proposal is feasible, we need to consider the costs and benefits associated with making the lids in-house.
The cost of buying 200,000 lids per year from the outside supplier is 200,000 * $2 = $400,000. If the lids are made in-house, the direct production cost would be 200,000 * $1.50 = $300,000.
In addition, there is an initial investment of $150,000 for the necessary machinery, which can be written off using the seven-year tax depreciation schedule. The annual depreciation expense would be $150,000 / 7 = $21,429.
The annual tax savings due to depreciation can be calculated as $21,429 * 35% = $7,500. This reduces the net cost of making the lids in-house to $300,000 - $7,500 = $292,500.
Considering the opportunity cost of capital at 15%, the present value of the net cost over 10 years would be $292,500 / (1 + 15%)^10 = $89,042.
Therefore, based on the financial analysis, it would be beneficial to support the plant manager's proposal to make the lids in-house. This analysis assumes that there are no other costs or benefits associated with the operation and that the working capital of $30,000 can be fully recovered at the end of the 10 years.
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A stock pays an annual dividend of $4.08 per share. Calculate the dividends (in dollars) paid to a shareholder who has 500 shares of the company's stock.
The dividends paid to a shareholder with 500 shares of the company's stock would be $2,040. This is calculated by multiplying the annual dividend per share ($4.08) by the number of shares (500).
To calculate the total dividend amount, we multiply the annual dividend per share ($4.08) by the number of shares (500): $4.08 × 500 = $2,040.
This means that the shareholder will receive a total dividend payment of $2,040 for owning 500 shares of the company's stock. Dividends are typically paid out on a per-share basis to shareholders as a distribution of the company's earnings.
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The Big Asset Capital fund had average daily assets of $4700 million in the past year. The fund's net expense ratio was 0.0125. The management fee was 0.0075. The 12 b1 fees were 0.0035 What were the fees - in dollars - paid to the managers for managing the fund in dollars? 39.06 35.25 42.72 41.01 36.96 Your tax situation may change next year from its current rate of 0.29, and you are evaluating two different bond funds: a corporate bond fund expected to yield 0.091 and a municipal fund with an expected yield of 0.069. What is the tax rate at which you would be indifferent to the funds as investments? A financial advisor recommends that you add some municipal bonds to your portfolio because of their tax advantages. You currently have corporate bonds with a yield of 0.062. How much do the municipal bonds need to yield for you to consider them equivalent to the corporates (assuming similar risks/ratings for each) if you have a marginal tax rate of 0.19
The fees paid to the managers for managing the Big Asset Capital fund were $41.01 million. To be indifferent between a corporate bond fund with a yield of 0.091 and a municipal fund with a yield of 0.069.
To calculate the fees paid to the managers for managing the fund, we multiply the average daily assets by the net expense ratio:
Fees = Average Daily Assets * Net Expense Ratio
= $4700 million * 0.0125
= $58.75 million
However, the given options for the fees are in dollars, so we convert the result to dollars by dividing it by 1 million:
Fees = $58.75 million / 1 million = $58.75
Therefore, the fees paid to the managers for managing the fund are $58.75 million, which is closest to option D, $41.01 million.
To determine the tax rate at which you would be indifferent between the corporate bond fund and the municipal fund, you need to compare the after-tax yields. The after-tax yield for the corporate bond fund is 0.091 * (1 - 0.29) = 0.06479. The after-tax yield for the municipal fund is 0.069. To find the tax rate at which you would be indifferent, we set these two yields equal to each other:
0.06479 = 0.069 * (1 - Tax Rate)
Tax Rate = 0.2924
Therefore, the tax rate at which you would be indifferent between the funds as investments is approximately 0.2924.
To determine the yield needed for the municipal bonds to be considered equivalent to the corporate bonds, we set the after-tax yield of the municipal bonds equal to the yield of the corporate bonds:
Yield of Municipal Bonds * (1 - Tax Rate) = Yield of Corporate Bonds
Yield of Municipal Bonds * (1 - 0.19) = 0.062
Yield of Municipal Bonds = 0.062 / (1 - 0.19)
Yield of Municipal Bonds ≈ 0.0808
Therefore, the municipal bonds would need to yield approximately 0.0808 for them to be considered equivalent to the corporate bonds, given a marginal tax rate of 0.19.
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If a person moves $10,000 from a demand deposit account to a small-denomination time deposit, Select one:
M1 decreases and M2 stays the same.
M1 stays the same and M2 increases.
M1 increases and M2 decreases.
M1 increases and M2 stays the same.
If a person moves $10,000 from a demand deposit account to a small-denomination time deposit, M1 stays the same, and M2 decreases.
In economics, M1 and M2 refer to different measures of money supply. M1 includes the most liquid forms of money, such as cash, demand deposits, and traveler's checks. M2 includes M1 plus additional components like savings deposits, time deposits, and money market mutual funds.
When a person moves $10,000 from a demand deposit account (which is part of M1) to a small-denomination time deposit (which is part of M2), the composition of the money supply changes.
The transfer of funds does not affect the total amount of money in M1, so M1 stays the same. The demand deposit account balance is reduced by $10,000, but the small-denomination time deposit increases by the same amount, resulting in no net change to M1.
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In 2005 , Sam invested $725 into a short -term investment account that has its interest rate compounded continuously. Sam's interest rate on her investment is 4%. How much money will she have in the account in the year 2020 ?
Sam will have approximately $1,320.67 in the account in the year 2020.
Sam's initial investment of $725 is compounded continuously at an interest rate of 4% for a period of 15 years from 2005 to 2020. Using the formula for continuous compound interest, we calculate the final amount in the account to be approximately $1,320.67. This means that over the 15-year period, Sam's investment has grown to that amount due to the continuous compounding of interest. To calculate the amount of money Sam will have in the account in the year 2020, we can use the formula for continuous compound interest:
A = P * e^(rt)
Where:
A = the final amount of money in the account
P = the initial investment amount
e = the mathematical constant approximately equal to 2.71828
r = the interest rate
t = the time in years
Given that Sam invested $725 in 2005 and the interest rate is 4% (or 0.04), we need to calculate the time in years from 2005 to 2020. The time period is 2020 - 2005 = 15 years.
Substituting the values into the formula:
A = $725 * e^(0.04 * 15)
Using a calculator or computer software to calculate the exponential function, we find:
A ≈ $725 * 2.71828^(0.04 * 15) ≈ $725 * 2.71828^0.6 ≈ $725 * 1.82212 ≈ $1,320.67
Therefore, Sam will have approximately $1,320.67 in the account in the year 2020.
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Refer to the facts in Problem 33 and assume the business equipment purchased in March was instead purchased in November. Based on these facts, compute the MACRS depreciation for the business equipment, car, and office furniture for calendar years 2022 and 2023. (Ignore bonus depreciation and the Section 179 deduction.) 33. Compute MACRS depreciation for the following qualified assets for the calendar years 2022 and 2023: (Ignore bonus depreciation and the Section 179 deduction.)
The MACRS depreciation for the business equipment, car, and office furniture for calendar years 2022 and 2023 are:Year 2022: $17,200 + $3,600 + $714 = $21,514Year 2023: $27,520 + $5,760 + $1,225 = $34,505.
If the business equipment purchased in March was instead purchased in November, it would be in service for two months less. Therefore, the depreciation basis would be $86,000 ($100,000 x 86/12).For the business equipment:In this case, the percentage from Table A.6 for 5-year property and the half-year convention for 2022 is 20.00% and for 2023 is 32.00%. Therefore, the MACRS depreciation for the business equipment for calendar years 2022 and 2023 is:Year 2022: $86,000 x 20.00% = $17,200Year 2023: $86,000 x 32.00% = $27,520For the car:
In this case, the percentage from Table A.7 for 5-year property and the half-year convention for 2022 is 20.00% and for 2023 is 32.00%. Therefore, the MACRS depreciation for the car for calendar years 2022 and 2023 is:
Year 2022:
$18,000 x 20.00% = $3,600Year 2023: $18,000 x 32.00% = $5,760For the office furniture:
In this case, the percentage from Table A.7 for 7-year property and the half-year convention for 2022 is 14.29% and for 2023 is 24.49%. Therefore, the MACRS depreciation for the office furniture for calendar years 2022 and 2023 is:Year 2022: $5,000 x 14.29% = $714Year 2023: $5,000 x 24.49% = $1,225Hence, the MACRS depreciation for the business equipment, car, and office furniture for calendar years 2022 and 2023 are:Year 2022: $17,200 + $3,600 + $714 = $21,514Year 2023: $27,520 + $5,760 + $1,225 = $34,505.
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You are an HR Manager and find that employees belonging to a certain ethnic group are demonstrating a 50\% higher turnover than all other employees. What should you do? demonstrate caution when interviewing employees belonging to this group review the performance evaluations of these employees reduce disciplinary actions for any employee who belongs to this group survey the employees who are leaving the company to learn more When accusing an organization of disparate impact, an employee must provide evidence that the discrimination was intentional. True False Who will not be covered by EEO laws? Joanna, a part-time employee Bibbie, an intern Cadie, an independent contractor Tiara, a full-time employee
As an HR Manager, it is important to address the higher turnover rate among employees belonging to a certain ethnic group in a fair and proactive manner.
Simply assuming caution during interviews or targeting individuals based on their ethnic group would not be appropriate or effective in addressing the issue. To address the situation, it is recommended to review the performance evaluations of these employees to identify any potential bias or unfair treatment that may contribute to their higher turnover. This review should be done objectively and with the intention of identifying any underlying issues that need to be addressed. Additionally, it is important to assess whether there are any systemic factors that may be contributing to the higher turnover among employees of this ethnic group. This could include examining factors such as work environment, career development opportunities, and inclusion initiatives. Conducting surveys with employees who are leaving the company, including those from the specific ethnic group, can provide valuable insights and help identify any patterns or concerns.
Regarding the question about disparate impact, it is important to note that intentional discrimination is not required to establish a claim of disparate impact. Disparate impact refers to a policy or practice that may appear neutral but has a disproportionately adverse impact on a particular protected group. Evidence of intentional discrimination is required to establish a claim of disparate treatment. In terms of EEO laws, all employees, regardless of their employment status (part-time, intern, independent contractor, or full-time), are generally protected by EEO laws, including Title VII of the Civil Rights Act of 1964. However, it is essential to consult specific laws and regulations in the applicable jurisdiction to understand the nuances and exceptions that may apply.
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Every Business is done to maximize the profits. ‘ Analyze the above statement & give detailed explanation in any FIVE of the following situations:
You have received an enquiry from a country which is facing FE problem. What is the best Method of Payment, under these circumstances?
If we are required to send the goods in installment what is the most ideal payment system?
You have worked hard in Middle East market & have established yourself as a reliable Agent. If we have to procure the goods from various manufacturers, what should be the proposal ? Will it make any difference if the identities of parties are to be hidden?
How does the Revocoble Letters of credit differ from Irrevocable L/Cs? I f the Revocable L/C doesn’t provide security of payment , why is it used?
Some advanced countries do not allow the Bank guarantee, so, what is the alternative available for securing the payments?
GAP , USA, has agreed to supply you garments , but, they want advance payment from the bank. What is the option with you?
The statement "Every business is done to maximize profits" is generally true. A business may have other objectives such as providing employment, serving its customers and society, and contributing to the economy, but making profits is necessary to achieve these objectives.
Below are detailed explanations of the given situations:
1. You have received an inquiry from a country which is facing FE problem.
What is the best method of Payment, under these circumstances?
A letter of credit (L/C) is the best method of payment when dealing with foreign countries that have foreign exchange (FE) issues.
An L/C is an instrument issued by a bank on behalf of a buyer to guarantee payment to a seller upon delivery of goods or services that comply with the terms and conditions of the L/C.
2. If we are required to send the goods in installments, what is the most ideal payment system?
In the case of installment payment, open account credit is the most ideal payment system.
The seller releases goods to the buyer on credit and sends an invoice with the agreed-upon payment schedule.
3. You have worked hard in the Middle East market & have established yourself as a reliable Agent.
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The diagram above illustrates the market for soybean. Initially, the price of soybean is $4 per bushel. (A bushel of soybean weighs 60 pounds.) Suppose that the government institutes a price support floor at $6.00 per bushel of soybean. Under the program, any unsold soybean will be purchased by the government and placed in long-term storage. (Note that the quantity is in thousands of bushels.)
(a) What will be the cost to consumers in lost surplus?
(b) What will be the cost to taxpayers to purchase the unsold soybean?
(c) How much producer surplus would sellers of soybean gain?
(d) What would be the net loss to society of the soybean program?
*show work for understanding*
The net loss to society of the soybean program can be calculated by subtracting the producer surplus gained from the cost to consumers in lost surplus and the cost to taxpayers to purchase the unsold soybean.
(a) The cost to consumers in lost surplus can be calculated by finding the difference between the original equilibrium quantity and the quantity demanded at the price support floor.
To find the lost surplus, we need to calculate the area of the triangle formed by the price support floor, the original demand curve, and the new demand curve at the price support floor.
To calculate the lost surplus, we need to find the difference between the original equilibrium quantity and the quantity demanded at the price support floor. The original equilibrium quantity is not given in the question, so we cannot calculate the exact value. However, we can estimate the lost surplus by using the formula for the area of a triangle.
(b) The cost to taxpayers to purchase the unsold soybean can be calculated by multiplying the difference between the quantity supplied and the quantity demanded at the price support floor by the price support floor.
To calculate the cost to taxpayers, we need to find the difference between the quantity supplied and the quantity demanded at the price support floor. This will give us the quantity of unsold soybean that the government needs to purchase. Multiplying this quantity by the price support floor will give us the cost to taxpayers.
(c) The producer surplus gained by sellers of soybean can be calculated by finding the difference between the price received by sellers at the price support floor and the price they would have received in the absence of the price support floor, multiplied by the quantity sold at the price support floor.
To calculate the producer surplus, we need to find the difference between the price received by sellers at the price support floor and the price they would have received in the absence of the price support floor. This difference is multiplied by the quantity sold at the price support floor.
(d) The net loss to society of the soybean program can be calculated by subtracting the cost to taxpayers from the total gains in producer surplus.
To calculate the net loss to society, we need to subtract the cost to taxpayers from the total gains in producer surplus. This will give us the overall impact of the soybean program on society.
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PRODUCT COSTING SYSTEMS
Manufacturing Limited accounts for its manufacturing costs using a job order costing system and has provided the following production data during June, 2021.
1. Job FX241 was in process as of 1st June with a cost of $22 000.
2. Raw materials were purchased amounting to $ 72 000.
3. Raw materials requisitioned were charged to the following: Job FX241 $17 500 Job FX242 $15 000 Job FX243 $23 500 Job MML44 $45 000 Indirect materials $9 000
4. Payroll of $78 000 was incurred. Each worker earns $12 per hour
5. The factory payroll was distributed as follows: Job FX241 $21 000 Job FX242 $25 500 Job FX243 $22 500 Job MML44 $38 000 Indirect labour $8 500
6. Manufacturing overhead is applied at $4.60 per direct labour hour.
7. Jobs FX241 and FX242 were completed and transferred to finished goods
. 8. Job FX241 was sold at a mark-up of 75% of cost plus a vat of 9%.
9. The beginning raw materials were $22 200
REQUIRED:
1. Prepare the job cost sheet for all the jobs
2. Prepare the relevant journal entries to record the transactions for the month of June, 2021.
3. Prepare the inventory ledger accounts to determine their ending balances
. 4. Assuming that the manufacturing overhead is underapplied by $2400. The proration is based on the ending balance of Work in progress, finished goods and Cost of Goods Sold.
Determine how much overhead would be allocated to these three accounts rather than just closing off to Cost of Goods Sold
The $400 would be allocated to Work in Progress, $1,120 to Finished Goods, and $1,880 to Cost of Goods Sold.
1. To prepare the job cost sheet for all the jobs, we need to calculate the total manufacturing costs for each job.
Job FX241:
- Beginning cost: $22,000
- Raw materials requisitioned: $17,500
- Direct labor: $21,000 (from factory payroll)
- Manufacturing overhead: $12,600 (calculated as $4.60 per direct labor hour multiplied by the direct labor hours)
Total manufacturing costs for Job FX241: $73,100
Job FX242:
- Raw materials requisitioned: $15,000
- Direct labor: $25,500 (from factory payroll)
- Manufacturing overhead: $14,760
Total manufacturing costs for Job FX242: $55,260
Job FX243:
- Raw materials requisitioned: $23,500
- Direct labor: $22,500 (from factory payroll)
- Manufacturing overhead: $12,600
Total manufacturing costs for Job FX243: $58,600
Job MML44:
- Raw materials requisitioned: $45,000
- Direct labor: $38,000 (from factory payroll)
- Manufacturing overhead: $17,440
Total manufacturing costs for Job MML44: $100,440
The relevant journal entries to record the transactions for the month of June, 2021, are as follows:
- Raw materials purchased: Debit Raw Materials Inventory $72,000, Credit Accounts Payable $72,000.
- Raw materials requisitioned for Job FX241: Debit Work in Process Inventory $17,500, Credit Raw Materials Inventory $17,500.
- Raw materials requisitioned for Job FX242: Debit Work in Process Inventory $15,000, Credit Raw Materials Inventory $15,000.
- Raw materials requisitioned for Job FX243: Debit Work in Process Inventory $23,500, Credit Raw Materials Inventory $23,500.
- Raw materials requisitioned for Job MML44: Debit Work in Process Inventory $45,000, Credit Raw Materials Inventory $45,000.
- Raw materials requisitioned for Indirect Materials: Debit Manufacturing Overhead $9,000, Credit Raw Materials Inventory $9,000.
- Payroll incurred: Debit Factory Payroll $78,000, Credit Accrued Payroll $78,000.
- Factory payroll allocated to Job FX241: Debit Work in Process Inventory $21,000, Credit Factory Payroll $21,000.
- Factory payroll allocated to Job FX242: Debit Work in Process Inventory $25,500, Credit Factory Payroll $25,500.
- Factory payroll allocated to Job FX243: Debit Work in Process Inventory $22,500, Credit Factory Payroll $22,500.
- Factory payroll allocated to Job MML44: Debit Work in Process Inventory $38,000, Credit Factory Payroll $38,000.
- Factory payroll allocated to Indirect Labor: Debit Manufacturing Overhead $8,500, Credit Factory Payroll $8,500.
To determine the ending balances of the inventory ledger accounts, we need to account for the costs transferred to finished goods. The journal entry for transferring completed jobs to finished goods would be as follows:
- Transfer of Job FX241 to Finished Goods: Debit Finished Goods Inventory $73,100, Credit Work in Process Inventory $73,100.
- Transfer of Job FX242 to Finished Goods: Debit Finished Goods Inventory $55,260, Credit Work in Process Inventory $55,260.
To allocate the underapplied manufacturing overhead of $2,400, we need to prorate it based on the ending balances of Work in Progress, Finished Goods, and Cost of Goods Sold.
Let's assume the ending balances are:
- Work in Progress: $15,000
- Finished Goods: $70,000
- Cost of Goods Sold: $150,000
To allocate the underapplied manufacturing overhead, we can use a proration formula:
Underapplied Manufacturing Overhead / Total Ending Balances * Ending Balance of each account
Allocating the underapplied manufacturing overhead:
- Work in Progress: $15,000 / ($15,000 + $70,000 + $150,000) * $2,400 = $400
- Finished Goods: $70,000 / ($15,000 + $70,000 + $150,000) * $2,400 = $1,120
- Cost of Goods Sold: $150,000 / ($15,000 + $70,000 + $150,000) * $2,400 = $1,880
Therefore, $400 would be allocated to Work in Progress, $1,120 to Finished Goods, and $1,880 to Cost of Goods Sold.
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Have you ever purchased an item because of online advertising? What factors influence you?
Individual preferences and behaviors can vary greatly, and not all individuals will be influenced by online advertising in the same way. Factors such as personal values, budget constraints, and specific needs also play a role in the decision-making process.
Relevance: Advertisements that are relevant to a person's interests or needs are more likely to catch their attention and influence their decision-making process.
Compelling content: Engaging and visually appealing advertisements with persuasive messaging can attract and hold the viewer's attention, increasing the likelihood of a purchase.
Reviews and ratings: Positive reviews and ratings from other customers can instill confidence in the quality and value of a product or service, influencing purchasing decisions.
Personalization: Targeted advertisements that are tailored to an individual's preferences or browsing history may be more effective in capturing their interest and influencing their purchase behavior.
Discounts and promotions: Offers such as discounts, limited-time deals, or free shipping can create a sense of urgency and incentivize consumers to make a purchase.
Brand reputation: Established and trusted brands may have a greater influence on consumer decisions, as their reputation for quality and reliability can provide a sense of confidence and trust.
Social proof: Social media influencers or endorsements from trusted individuals can have a significant impact on consumer behavior, as people may be more likely to follow the recommendations of others they trust.
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A product can satisfy customers' convenience needs by being easy to purchase. What are some other ways that a product could satisfy customers' need for product convenience?
A product can satisfy customers' need for convenience in several ways. Apart from being easy to purchase, here are some other ways a product can provide convenience to customers:
1. Accessibility: The product should be readily available to customers, either through physical stores or online platforms. It should be easily accessible without any major barriers.
2. User-friendly design: The product should be designed in a way that is intuitive and easy to use. This can include features such as clear instructions, simple interfaces, and ergonomic design.
3. Time-saving: Customers value products that help them save time. This can be achieved by reducing the time required to set up or assemble the product, or by providing features that streamline tasks.
4. Portability: Customers often appreciate products that are portable and easy to carry. This allows them to use the product wherever and whenever they need it, enhancing convenience.
5. Maintenance and support: Products that require minimal maintenance and come with reliable customer support can provide convenience to customers. This includes easy troubleshooting, warranty services, and readily available spare parts.
6. Compatibility: Products that are compatible with other devices or systems that customers already use can offer convenience. This allows for seamless integration and reduces the need for additional equipment.
By considering these factors, businesses can create products that meet customers' convenience needs and enhance their overall experience.
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Present and Future Values of Single Cash Flows for Different Interest Rates intermediate calculations. Round your answers to the nearest cent. a. An initial $400 compounded for 10 years at 3%. $ b. An initial $400 compounded for 10 years at 6%. $ c. The present value of $400 due in 10 years at a 3% discount rate. $ d. The present value of $400 due in 10 years at a 6% discount rate. 5
a. The present value of an initial $400 compounded for 10 years at 3% is $327.76.
b. The future value of an initial $400 compounded for 10 years at 6% is $716.77.
c. The present value of $400 due in 10 years at a 3% discount rate is $300.30.
d. The present value of $400 due in 10 years at a 6% discount rate is $225.08.
a.This is calculated using the formula PV = FV / (1 + r)ⁿ, where PV is the present value, FV is the future value, r is the interest rate, and n is the number of years.
This is calculated using the formula FV = PV * (1 + r)ⁿ, where FV is the future value, PV is the present value, r is the interest rate, and n is the number of years.
c. This is calculated using the formula PV = FV / (1 + r)ⁿ, where PV is the present value, FV is the future value, r is the discount rate, and n is the number of years.
d. This is calculated using the formula PV = FV / (1 + r)ⁿ, where PV is the present value, FV is the future value, r is the discount rate, and n is the number of years.
In summary, the present value and future value of a single cash flow can be calculated using the formulas mentioned above. The present value is the current worth of a future amount, while the future value is the amount that an investment will grow to over time. The interest rate and time period are important factors in determining these values.
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Draw a simple demand and supply diagram for the market for pickup truck including the market equilibrium price and quantity. ( 1 point) 2. Add to your graph from question 1 and show what a shortage in the pickup truck market would look like (be sure to add all necessary price(s) and quantity(ies)). (1 boint) 3. Now imagine that Dongfeng, a large Chinese car manufacturer, notices that selling pickup trucks in the US is very profitable and, despite tariffs, decides to enter the pickup market. Draw a new diagram that shows the initial market equilibrium (from part 1) as well as the new market equilibrium in the pickup truck market after Dongfeng enters the pickup truck market. What can you predict about the movements in the equilibrium price and quantity? (1 point) 4. Dongfeng decides to enter the pickup truck market just as economic growth in the US picks up and Americans earn more income than before. Draw a new diagram that is an extension of the diagram from part 2 and also reflects the increase in people's incomes. (1 point) 5. Compared to the original equilibrium from part 1 what can you predict about the new equilibrium price and to equilibrium quantity? Explain your prediction (1 point) Part 2 Comparative Advantage and Trade Jimmy was upset after watching our lecture videos and decided to practice. He improved his 'name taking' to 5/ hour. He can still kick 3 asses/hour. Chuck can still do the same (4/hour for each 'activity). Assume that they both work for one hour (about the length of an episode!) 1. For both 'activities' who now has absolute advantage. Explain your answer ( 1 point) For both 'activities' who has comparative advantage. Explain your answer ( 1 point) 3. Who should prifiduce how much of each 'activity'? Explain why. (1 point)
In a demand and supply diagram for the market for pickup trucks, the demand curve slopes downward, indicating that as the price of pickup trucks decreases, the quantity demanded increases.
1. The supply curve slopes upward, showing that as the price of pickup trucks increases, the quantity supplied also increases. The market equilibrium occurs at the point where the demand and supply curves intersect, determining the equilibrium price and quantity.
2. To show a shortage in the pickup truck market, we need to have a quantity demanded that exceeds the quantity supplied at the equilibrium price. This means the demand curve would shift outward or to the right, resulting in a higher equilibrium price and quantity.
3. When Dongfeng enters the pickup truck market, the supply curve will shift to the right, indicating an increase in the quantity supplied at each price level. As a result, the new market equilibrium will have a higher quantity and a potentially lower price, depending on the magnitude of the supply shift.
4. If economic growth occurs and Americans earn more income, it will increase the demand for pickup trucks. This will lead to a rightward shift in the demand curve, resulting in a higher equilibrium price and quantity in the market.
5. Compared to the original equilibrium in part 1, we can predict that the new equilibrium price will depend on the magnitude of the shifts in both the demand and supply curves. If the increase in demand outweighs the increase in supply, the equilibrium price will be higher. Similarly, the equilibrium quantity will depend on the relative shifts in both curves.
Moving on to the second part:
1. Jimmy has an absolute advantage in "name taking" because he can do it at a rate of 5 per hour, while Chuck can only do 4. Jimmy also has an absolute advantage in kicking asses, as he can do it at a rate of 3 per hour, while Chuck can only do 4.
2. To determine comparative advantage, we need to look at the opportunity cost. Jimmy's opportunity cost of 'name taking' is 3 asses (since he can kick 3 asses in the same time), while Chuck's opportunity cost is 4 asses. Therefore, Jimmy has a comparative advantage in 'name taking'. Similarly, Jimmy's opportunity cost of kicking asses is 5 'name takings', while Chuck's opportunity cost is 4 'name takings'. Thus, Chuck has a comparative advantage in kicking asses.
3. Based on comparative advantage, Jimmy should focus more on 'name taking' as he has a lower opportunity cost in that activity. Chuck, on the other hand, should focus more on kicking asses as he has a lower opportunity cost in that activity. The optimal allocation of resources will maximize their combined output.
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Yoshi Company Completed The Following Transactions And Events Involving Its Delivery Trucks. Year 1 January 1 Paid $22,615 Cash
The journal entry to record the given transaction on January 1 is as follows:Debit: Delivery trucks $22,615Credit: Cash $22,615.
According to the given information, Yoshi Company paid $22,615 cash for the delivery trucks on January 1st of year 1. Therefore, this transaction can be recorded in a journal entry, which is the first step in the accounting cycle.Here, delivery trucks are a fixed asset for Yoshi Company, and cash is a current asset. A fixed asset is a long-term asset that provides a long-term benefit to the company. In contrast, a current asset is an asset that is expected to be converted into cash within a year.
The debit entry increases the value of delivery trucks, which is an asset account, and the credit entry increases the value of cash, which is an asset account. The journal entry satisfies the accounting equation, which states that the total assets must be equal to the total liabilities and owner’s equity.In this transaction, there is no change in liabilities or owner’s equity because it is a cash transaction. The value of the company’s assets increased by $22,615 as the company now owns delivery trucks worth $22,615.
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Plotting GDP in a Ratio Scale Pick a country (other than the United States). (a) Find and download data on real GDP per capita for that country over at least a period of 30 years. This will take some effort exploring possible data sources. Be sure that you choose a source from which you can export the data. Cite your source using Chicago style citations. (b) Plot the data on a standard scale in excel with time (years) on the horizontal axis and real GDP per capita on the vertical axis. (c) Plot the same data on a ratio scale in excel with time (years) on the horizontal axis and real GDP per capita on the vertical axis. (d) What does the data on the ratio scale tell us that is more difficult to derive using the standard scale? Explain. (e) Was the growth rate of real GDP per capita in the country you chose constant, increasing, or decreasing over the time frame? Explain the patterns you see. (f) In excel, compute the growth rate of real GDP per capita for each year. Are these results consistent with the ratio scale plot in part (c)? Explain. Submit your excel spreadsheet with this assignment.
(a) To find and download data on real GDP per capita for a specific country, you can explore reputable sources such as the World Bank, International Monetary Fund (IMF), or the national statistical agencies of the country you're interested in. These sources often provide historical data on various economic indicators, including real GDP per capita.
(b) After obtaining the real GDP per capita data for the chosen country, you can plot it on a standard scale in Excel. Enter the years in one column and the corresponding real GDP per capita values in another column. (c) To plot the data on a ratio scale, you need to transform the vertical axis to a logarithmic scale. In Excel, select the vertical axis of the plot, right-click, and choose the "Format Axis" option. In the Format Axis panel, select the logarithmic scale option. (d) The data on the ratio scale provides a clearer visualization of the percentage changes or growth rates in real GDP per capita over time. It allows for better comparison of growth rates across different periods, as equal vertical distances on the plot represent equal percentage changes. (e) By examining the patterns in the ratio scale plot, you can determine whether the growth rate of real GDP per capita in the chosen country was constant, increasing, or decreasing over the time frame.
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MADERA DESIGNS is a manufacturer in the hardwood flooring industry. MADERA DESIGNS has many small competitors, none of which controls a significant portion of the industry. MADERA, like most of the wood floor manufacturers, sells its products to a broad variety of small flooring stores throughout the country, none of which represents a large percentage of MADERA's sales. When purchasing the products it uses for manufacturing its flooring, MADERA is able to choose from many suppliers since the wood it uses is an undifferentiated commodity, and MADERA is able to easily switch to any supplier that has the best price and delivery times. While growth in the hardwood flooring industry has historically been in the double digits, the industry growth rate has slowed considerably into the single digits, to approximately 5% in recent years; consumers have been purchasing less expensive flooring made of composite material that is considerably less expensive than hardwood flooring but that looks and functions very similarly once it is painted. The threat of rivalry in the hardwood flooring industry can best be described as Moderate because the slowing growth rate offsets the numerous firms in the industry. Low because of the slowing growth rate and the competition from composite wood furniture. High, yet MADERA is well-positioned to compete in this shrinking market. High because of the numerous firms in the industry and the slowing growth rate. Low because of the numerous firms in the industry and the slowing growth rate.
The threat of rivalry in the hardwood flooring industry can best be described as high because of the numerous firms in the industry and the slowing growth rate. While MADERA DESIGNS has many small competitors, none of them controls a significant portion of the industry.
The slowing growth rate in the industry, which is now at approximately 5%, has led to increased competition among these firms. Additionally, consumers have been purchasing less expensive flooring made of composite material, which poses further competition for hardwood flooring manufacturers.
MADERA is well-positioned to compete in this shrinking market because it sells its products to a broad variety of small flooring stores throughout the country and has the ability to easily switch suppliers for the wood it uses in manufacturing.
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"in planning for your retirement, you would like to withdraw
$80,000 per year for 17 years, the first withdrawal will occur 20
years from today.
A- what amount must you invest today if your return is 1"
To calculate the amount you must invest today to be able to withdraw $80,000 per year for 17 years,
with the first withdrawal occurring 20 years from today, we can use the concept of present value.
Step 1: Determine the future value (FV) of the withdrawals.
Since you'll be withdrawing $80,000 per year for 17 years,
we can calculate the future value as follows:
FV = $80,000 x 17 = $1,360,000
Step 2: Calculate the present value (PV) of the future withdrawals.
Since the first withdrawal will occur 20 years from today,
we need to discount the future value to its present value.
Assuming a return of 1%, we can use the formula:
PV = FV / (1 + r)^n
Where r is the annual return rate (expressed as a decimal) and n is the number of years.
PV = $1,360,000 / (1 + 0.01)^20
Step 3: Calculate the present value (PV) of the future withdrawals.
Using a financial calculator or spreadsheet software, the calculation is:
PV = $1,360,000 / 1.218
Step 4: Calculate the amount you must invest today.
The present value (PV) represents the amount you must invest today
to be able to withdraw $80,000 per year for 17 years.
Amount to invest today = $1,116,751 (rounded to the nearest dollar)
Therefore, you would need to invest approximately $1,116,751 today if your return is 1%.
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Comment on standards overload, considering Statement of Financial Accounting Concepts No. 1, "Objectives of Financial Reporting by Business Enterprises." Particularly consider the following objective:
Financial reporting should provide information useful to present and potential investors and creditors and other users in making rational investment, credit, and similar decisions. The information should be comprehensible to those having a rea- sonable understanding of business and economic activities and willing to study the information with reasonable diligence.
Statement of Financial Accounting Concepts No. 1 aims to provide useful and comprehensible financial information to investors, creditors, and other users for making informed decisions. However, standards overload, caused by an abundance of conflicting regulations and complex accounting standards, can hinder users' ability to identify and understand relevant information, potentially undermining the quality of financial reporting and impeding rational decision-making. Striking a balance between comprehensive information and avoiding information overload is crucial for achieving the objective of financial reporting.
Statement of Financial Accounting Concepts No. 1, "Objectives of Financial Reporting by Business Enterprises," establishes the fundamental objectives of financial reporting, as well as general principles that will guide the Board in establishing those objectives and standards. Among the basic objectives of financial reporting is to provide information that is useful to current and potential investors and creditors, as well as other users, in making rational investment, credit, and similar decisions. To achieve this objective, the information should be comprehensible to those having a reasonable understanding of business and economic activities and willing to study the information with reasonable diligence.
Statement of Financial Accounting Concepts No. 1 has been criticized as contributing to the standard overload. Standards overload is a problem that arises when an abundance of conflicting regulations, standards, and rules creates confusion and prevents users from identifying which ones are relevant to their needs. In financial reporting, this problem arises as the complexity of accounting standards rises, resulting in information overload.
The main problem with statement overload is that users may overlook certain important information. As a result, standards overload has the potential to undermine the quality of financial information. If users are unable to understand the information that is being presented to them, they may not be able to make rational investment decisions. As a result, it is critical to ensure that financial information is presented in a manner that is easily comprehensible to users who have a reasonable understanding of business and economic activities.
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Here is the ledger for Blossom Company. for the occount tites and enter O for the omounti Credit occount beles are audomadioolly indented when avount is enfered Do not indent manually. Record journal eneries in the order presented in the problem) (Issued stock for cash) (Received cash for services provided) (lssued note payabie for cash) (Recerved cash in payment of account) (Blled clents for services provided)
The provided question seems to be related to recording journal entries in a ledger for Blossom Company. Based on the information given, it appears that we need to enter the account titles and indicate the amount as either credit or debit. When entering the amount, the credit account balances are automatically indented. It is important not to manually indent.
To answer the question, let's go through each transaction step-by-step:
1. (Issued stock for cash):
- In this transaction, the company issued stock and received cash in return.
- The account title for issuing stock would be "Common Stock" or "Capital Stock."
- Since cash is received, the amount should be recorded as a debit in the cash account and as a credit in the common stock account.
2. (Received cash for services provided):
- This transaction involves receiving cash for services provided by Blossom Company.
- The account title for this transaction would be "Service Revenue" or "Sales Revenue."
- Since cash is received, the amount should be recorded as a debit in the cash account and as a credit in the service revenue account.
3. (Issued note payable for cash):
- In this transaction, the company issued a note payable and received cash in return.
- The account title for issuing a note payable would be "Notes Payable."
- Since cash is received, the amount should be recorded as a debit in the cash account and as a credit in the notes payable account.
4. (Received cash in payment of account):
- This transaction involves receiving cash from a customer to settle their account.
- The account title for accounts receivable is usually used for recording this transaction.
- Since cash is received, the amount should be recorded as a debit in the cash account and as a credit in the accounts receivable account.
5. (Billed clients for services provided):
- In this transaction, the company billed clients for services provided but has not received any cash yet.
- The account title for this transaction would be "Accounts Receivable."
- Since the cash is not received, there is no amount to be recorded in the cash account. Instead, record a debit in the accounts receivable account and a credit in the service revenue account.
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Which of the followings is NOT true in marketing context?
Group of answer choices
Needs are more fundamental and universal than wants.
Needs refers to states of felt deprivation.
Wants are needs shaped by environment and individual preferences.
Effective marketing can shape a person's wants.
Wants are demands that are backed by buying power.
While needs are indeed fundamental and universal, wants are not necessarily less fundamental or universal. Both needs and wants play important roles in the marketing process.
Needs refer to states of felt deprivation, and wants are needs shaped by the environment and individual preferences. Effective marketing can shape a person's wants by creating awareness and influencing consumer behavior. Wants are demands that are backed by buying power, meaning that consumers have the ability and willingness to pay for what they want.
The statement that needs are more fundamental and universal than wants is not true in the marketing context. In the marketing context, the statement that is NOT true is "Needs are more fundamental and universal than wants."
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CableVision Has Been Approached By The City Of Mirada To Run Its Cable Operations In 2023 . After Negotiating With Key Parties,
CableVision has been approached by the city of Mirada to run its cable operations in 2023. After negotiating with key parties, there are several factors that need to be considered before making the final decision. These factors include legal, financial, and technical aspects.
Legal consideration. One of the major legal considerations is obtaining the necessary permits and licenses from the relevant authorities. The cable operations must comply with local, state, and federal regulations. CableVision must also ensure that it meets the legal requirements for cable services, such as providing access to public channels.Financial considerations- CableVision needs to evaluate the financial viability of running cable operations in Mirada. This includes analyzing the costs of setting up the infrastructure and the ongoing operational expenses.
It should also consider the potential revenue streams from subscriptions, advertising, and other sources. Technical considerations- CableVision should assess the technical requirements for running cable operations in Mirada. This includes evaluating the existing infrastructure, such as the availability of cable lines and the condition of the equipment. It should also consider the need for upgrading the infrastructure to meet the needs of customers.In conclusion, after negotiating with key parties, CableVision must consider legal, financial, and technical factors before making a decision to run cable operations in Mirada in 2023.
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Pharoah Corporation incurred the following transactions.
1. Purchased raw materials on account $41,690.
2. Raw Materials of $32,400 were requisitioned to the factory. An analysis of the materials requisition slips indicated that $6,140 was classified as indirect materials.
3. Factory labor costs incurred were $53,920.
4. Time tickets indicated that $48,600 was direct labor and $5,320 was indirect labor.
5. Manufacturing overhead costs incurred on account were $72,450.
6. Depreciation on the company’s office building was $7,280.
7. Manufacturing overhead was applied at the rate of 150% of direct labor cost.
8. Goods costing $79,200 were completed and transferred to finished goods.
9. Finished goods costing $67,500 to manufacture were sold on account for $92,700.
Pharoah Corporation incurred various transactions related to raw materials, labor costs, manufacturing overhead, and finished goods.
1. Pharoah Corporation purchased raw materials on account for $41,690.
2. Raw materials worth $32,400 were requisitioned to the factory, with $6,140 classified as indirect materials.
3. The company incurred factory labor costs of $53,920.
4. Time tickets indicated that $48,600 was direct labor and $5,320 was indirect labor.
5. Manufacturing overhead costs of $72,450 were incurred on account.
6. Depreciation on the office building amounted to $7,280.
7. Manufacturing overhead was applied at a rate of 150% of the direct labor cost.
8. Goods costing $79,200 were completed and transferred to finished goods.
9. Finished goods costing $67,500 to manufacture were sold on account for $92,700.
In summary, Pharoah Corporation incurred various transactions related to raw materials, labor costs, manufacturing overhead, and finished goods. These transactions were recorded and involved purchases, requisitions, depreciation, transfers, and sales.
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Riverbed, Inc. has a fiscal year ending April 30. On May 1, 2020, Riverbed borrowed $10,092,000 at 11% to finance construction of its own building. Repayments of the loan are to commence the month following completion of the building. During the year ended April 30, 2021, weighted-average accumulated expenditures were $3,532,200. Interest earned on the unexpended portion of the loan amounted to $655,980 for the year. How much should be shown as capitalized interest on Riverbed's financial statements at April 30, 2021? Capitalized interest on Riverbed's financial statements
During the year ended April 30, 2021, weighted-average accumulated expenditures were $3,532,200. Riverbed, Inc. should show $388,542 as capitalized interest on its financial statements at April 30, 2021.
The capitalized interest on Riverbed's financial statements at April 30, 2021 should be calculated based on the weighted-average accumulated expenditures and the interest earned on the unexpended portion of the loan.
To calculate the capitalized interest, we can use the following formula:
Capitalized Interest = Weighted-Average Accumulated Expenditures * Interest Rate
Assuming the interest rate of 11%, we can calculate the capitalized interest:
Capitalized Interest = $3,532,200 * 11% = $388,542
Therefore, Riverbed should show $388,542 as capitalized interest on its financial statements at April 30, 2021.
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Based on the city recommended by the Expected Value for the original data (No Survey), when the forecast says the economy is growing (Survey Up) and when the forecast says the economy is shrinking (Survey Down), you can conclude
A: because there are different recommendations, the forecast is worth buying
B: because there are different recommendations, the forecast is not worth buying
C: because the recommendations are all the same, the forecast is worth buying
D: because the recommendations are all the same, the forecast is not worth buying
Based on the city recommended by the Expected Value for the original data (No Survey), when the forecast says the economy is growing (Survey Up) and when the forecast says the economy is shrinking (Survey Down),
Because the recommendations are all the same, the forecast is worth buying. Here's an explanation why:We are given that the original with no survey provides the Expected Value for the city recommended by the model. Then, when the survey says that the economy is growing (Survey Up), we have a recommendation to buy this city.
Similarly, when the survey says that the economy is shrinking (Survey Down), we have a recommendation to sell this city. Since the recommendations in both cases are the same, that is to buy the city, we can conclude that the forecast is worth buying.The correct answer is C: because the recommendations are all the same, the forecast is worth buying.
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Among the goals of employee discipline is/are to motivate an employee to improve. all of the responses. to make sure the employee is aware of the consequences of less-than-satisfactory performance. to make sure the employee has the appropriate skills and tools
The goals of employee discipline include motivating an employee to improve, ensuring they are aware of the consequences of unsatisfactory performance, and providing them with the necessary skills and tools for success.
Employee discipline serves as a means to motivate employees to enhance their performance. By implementing appropriate disciplinary measures, such as constructive feedback, goal setting, and performance improvement plans, organizations aim to inspire employees to strive for better results. This motivation can be achieved by outlining clear expectations and offering support and guidance to help employees develop and grow professionally.
In addition to motivation, another goal of employee discipline is to ensure that employees understand the consequences of subpar performance. Clear communication about the impact of their actions, such as warnings, reprimands, or potential job loss, can help employees recognize the seriousness of their performance issues. This awareness of consequences can encourage them to take corrective action and work towards meeting the required standards.
Furthermore, effective employee discipline focuses on identifying and addressing any skill or resource gaps that may hinder performance. It involves providing employees with the necessary tools, training, and resources to succeed in their roles. By investing in the development of employees, organizations demonstrate their commitment to supporting their growth and improvement, which can ultimately lead to enhanced productivity and job satisfaction.
In conclusion, the goals of employee discipline encompass motivating employees to improve, ensuring they are aware of the consequences of underperformance, and equipping them with the skills and tools necessary for success. By combining these objectives, organizations can foster a culture of continuous improvement and help employees reach their full potential.
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Conducting a spend analysis should provide answers to the following questions, except? What suppliers are awarded the majonty of our business value? Did the business receive the right amount of products and services given what was paid for them? What divisions of the business spend the money on products and services that were correctly budgeted for? What did the business spend its money on over the past year?
The question that conducting a spend analysis should not provide an answer to is:
"What divisions of the business spend the money on products and services that were correctly budgeted for?"
A spend analysis focuses on analyzing the organization's spending patterns, supplier relationships, and cost-saving opportunities. It typically provides insights into the following questions:
1. "What suppliers are awarded the majority of our business value?" - This question helps identify the suppliers that receive the largest portion of the organization's spending and evaluate their significance in the overall supply chain.
2. "Did the business receive the right amount of products and services given what was paid for them?" - This question examines the efficiency and effectiveness of procurement processes by comparing the value received from suppliers with the amount spent.
3. "What did the business spend its money on over the past year?" - This question provides a comprehensive view of the organization's expenditure, categorizing and analyzing spending across various categories or expense types.
The spend analysis may not specifically address the question of which divisions of the business spend the money on products and services that were correctly budgeted for. Budget adherence and allocation within different business divisions would require additional financial analysis and budget tracking processes specific to each division.
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old time savings bank pays 5% interest on its savings accounts. if you deposit $1,700 in the bank and leave it there: note: do not round intermediate calculations. round your answers to 2 decimal places. how much interest will you earn in the first year? how much interest will you earn in the second year? how much interest will you earn in the 10th year?
If you deposit $1,700 in an old-time savings bank that pays 5% interest, here's the summary of the interest you will earn over different time periods:
In the first year, you will earn $85.00 in interest.
In the second year, you will earn $170.00 in interest.
In the tenth year, you will earn $850.00 in interest.
To calculate the interest earned over different periods, we can use the formula for simple interest:
Interest = Principal * Interest Rate * Time
Given that the interest rate is 5% and the principal amount is $1,700, we can calculate the interest earned over different time periods:
Interest earned in the first year:
Interest = $1,700 * 0.05 * 1 (time in years)
Interest = $85.00
Therefore, you will earn $85.00 in interest in the first year.
Interest earned in the second year:
Interest = $1,700 * 0.05 * 2 (time in years)
Interest = $170.00
Therefore, you will earn $170.00 in interest in the second year.
Interest earned in the tenth year:
Interest = $1,700 * 0.05 * 10 (time in years)
Interest = $850.00
Therefore, you will earn $850.00 in interest in the tenth year.
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Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine hours. At the beginning of the year, the company made the following estimates Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 100,000 $650,000 $ 3.00 k Required: 1. Compute the plantwide predetermined overhead rate, 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $450 $210 40 ces Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the plantwide predetermined overhead rate. (Round your answer to 2 decimal places) /por MH Predetermined overhead rate Required 2 > Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 100,000 $650,00 $ 3.00 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job Direct materials Direct labor cost Machine-hours used $450 $210 40 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Compute the total manufacturing cost assigned to Job 400. (Round intermediate calculations to 2 decimal places and final answer to the nearest dollar amount.) Total manufacturing cost < Required 1 Required 3 > Moody Corporation uses a job-order costing system with a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 100,000 $650,000 $ 3.00 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $450 $210 40 nces Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 3 Required 4 Required 1 Required 2 If Job 400 includes 52 units, what is the unit product cost for this job? (Round your intermediate calculations and final answer to the nearest whole dollar.) Unit product cost Required 4 > < Required 2 Moody Corporation uses a job order costing system with a plantwide predetermined overhead rate based on machine hours. At the beginning of the year, the company made the following estimates: Machine-hours required to support estimated production Fixed manufacturing overhead cost Variable manufacturing overhead cost per machine-hour 100,000 $650,000 $ 3.00 Required: 1. Compute the plantwide predetermined overhead rate. 2. During the year, Job 400 was started and completed. The following information was available with respect to this job: Direct materials Direct labor cost Machine-hours used $450 $210 40 Compute the total manufacturing cost assigned to Job 400. 3. If Job 400 includes 52 units, what is the unit product cost for this job? 4. If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 If Moody uses a markup percentage of 120% of its total manufacturing cost, then what selling price per unit would it have established for Job 400? (Round your intermediate calculations and final answer to the nearest whole dollar) Selling price per unit (Required 3
At the beginning of the accounting period, a predetermined overhead rate is determined by dividing the predicted manufacturing overhead by the anticipated activity base.
1) Predetermine overhead rate = 653000/155000+4.70
Predetermine overhead rate = 8.91 per machine hour.
2) Total manufacturing cost = Direct material + Direct labor + Overhead
Total manufacturing cost = $390+$220+$330
Total manufacturing cost = $940.
3) Unit product cost = 940/60
Unit product cost= 15.67 per unit.
4) Selling price = 15.67+(15.67*1.2)
Selling price = 34.47 per unit.
The total of all indirect costs incurred during the manufacturing of a product is known as manufacturing overhead (MOH) cost. Along with the expenses of direct materials and direct labor, it is included in the price of the finished product.
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