Answer:
Work from the office during the common core period and put in the extra hours per their convenience
Explanation:
Employees who are entitled for the flextime can work and align their work-life balance as per their conscience. For example, they can work less hours in one week and they can balance this time shortage by working more and extra hours in the coming weeks. They are very much open in varying their working hours. As all other employees are needed to work in the designated time but the employees working under this facility, besides working the core hours has the option to use and put their extra hours in the time sheet as per their conscience. It has been seen often that the employee working under flextime are more productive and creative as compared to the other employees.
Tom Owens has made a presentation to his prospect, Zero Enterprises. No matter how he has tried to move the call forward, he has been unable to, despite Zero telling him they like what they hear. It is likely that Tom is encountering
Passive Resistance
Forceful Resistance
Active Resistance
None of the above
Tom Owens is encountering Passive Resistance from Zero Enterprises, characterized by a lack of progress despite positive feedback. To overcome this, he should engage the prospect in uncovering underlying concerns and address them.
Explanation:Tom Owens is likely encountering Passive Resistance. This type of resistance involves a scenario where the prospect, in this case, Zero Enterprises, appears to be interested and expresses liking what they hear, yet does not move forth with the deal or the proposal they are being presented with. The characteristic sign of passive resistance in a sales context is when a prospect provides no firm commitment or objection, often resulting in stalled progress despite positive feedback.
When dealing with passive resistance, it's important for salespeople like Tom to try and identify the underlying reasons behind the lack of progress. This could involve asking open-ended questions to encourage the prospect to share any concerns or reservations. The goal is to get the prospect to express any hidden objections that might not have been previously voiced. Once these concerns are out in the open, Tom can then address them directly, hopefully moving the sales process forward.
Learn more about Passive Resistance here:https://brainly.com/question/1079689
#SPJ2
The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,103. A total of 35 direct labor-hours and 263 machine-hours were worked on the job. The direct labor wage rate is $17 per labor-hour. The Corporation applies manufacturing overhead on the basis of machine-hours. The predetermined overhead rate is $19 per machine-hour. The total cost for the job on its job cost sheet would be:
Answer:
$7,695
Explanation:
The computation of the total cost is shown below:
Total cost = Direct material cost + total direct labor cost + total overhead cost
where,
Direct material cost = $2,103
Total direct labor cost = 35 direct labor hours × $17 = $595
And, the total overhead cost is
= 263 machine hours × $19
= $4,997
So, the total cost is
= $2,103 + $595 + $4,997
= $7,695
Pick an industry that typically has strong cyclical (peaks when the economy is strong) or counter-cyclical (peaks when the economy is weak) employment. Find an online article that supports your identification of the industry. Why do you suppose this industry has cyclical (or counter-cyclical) employment?
Answer:
At the point when an economy gets, a business downturn is experienced. Yield agreements and business falls. As work falls, salary of the individuals falls since they are currently jobless. Hence, their discretionary cash flow additionally falls which implies they will request less merchandise. The makers creating these merchandise will confront deficiency of interest and acclimate to it by chopping down creation and laying off laborers. Subsequently, unemployment rises further. This is what is known as patterned unemployment.
Unemployment is counter repeating on the off chance that it falls when the economy contracts. Medicinal services for example. Consider individuals being laid off from work during monetary crunch. The distress of the individuals considering losing their positions causes a few ailment. Which additionally implies that they should spend more on medicinal services with the goal that they are fit to work and can look through occupations quicker. Here, regardless of whether the economy is crunching, it is the human services segment that gets a lift. Subsequently, unemployment in human services industry is counter recurrent.
Cruella Inc. owns 85% of Horace Co. During 20X9, Cruella sells goods to Horace with a 25% gross profit. Horace sold all of these goods to a 3rd party in 20X9. For the 20X9 consolidated financial statements. How should the summation of the Cruella and Horace income statement items be adjusted?
a. No adjustment is needed.
b. Sales and COGS should be reduced by 80% of the intercompany sales amount.
c. Net income should be reduced by 80% of the gross profit on intercompany sales amount.
d. All intercompany sales and costs of goods sold must be eliminated in consolidation
Answer:
Option A is the correct answer,no adjustment is needed.
Explanation:
When related companies sell to each other,the sales transaction is not sales in actual sense,as it is likened to the left hand of an individual exchanging cash with the right hand,in other words, the cash is still owned by the same person.
The same concept is applicable to subsidiaries and parent,the sales recorded from a group perspective is when they sold to external third parties.
When sales happen between related companies, a provision for unrealized profits has to be made to the tune of inventory purchased from related companies not yet sold externally,as the whole of the goods have been to third parties, no such provision or adjustment is required.
Answer:
d. All intercompany sales and costs of goods sold must be eliminated in consolidation.
Explanation:
For a group of companies, the figure to be used in the profit and loss account must only be sales to and purchases from customers or companies that are not part of the group. For this reason, intra group sales are to be eliminated from sales and cost of sales figures used in the profit and loss account.
In addition, unrealized profit on goods should also be eliminated in case there are some of the goods related intra good sales that are not yet sold.
Therefore, the correction is d. All intercompany sales and costs of goods sold must be eliminated in consolidation.
Brian works for Magnira Labs and is conducting research on a certain topic. For the research, he needs $50,000, but the private agency funding the research is willing to give only $30,000. In this scenario, the restraint on the budget is an example of a _____.
Answer: Budget Constraint
Explanation: Because from the Question we can see that brain needs $50,000 for his research but was dropped to $30,000 , so the $20,000 not given is the budget constraint .
Answer:
Limitation in research
Explanation:
Limitation are those factors that are capable of influencing the conduct of the research which the researcher cannot control. They are the shortcomings, conditions or influences that cannot be controlled by the researcher that place restrictions on your methodology and conclusions.
In the this scenario Brian is faced with the limitation in funding that will have a drastic effect on the conduct of his research. The limitation is this case is due to limited resources in terms of fund that could be provided by the private agency funding the research.
However, Brian can overcome this minimize the effect the limitation on his research by cutting down the research budget.
All of the following are examples of marketing outcome data except which?
Group of answer choices:
O sales reports by geographic region
O accounting records
O customer phone calls
O sales people's call reports
O repeat sales reports
Answer:
The correct answer is letter "D": sales people's call reports.
Explanation:
Marketing outcome represents data that shows if a company succeeded or not. They reflect the firm's performance as a whole. Examples of marketing outcomes could be accounting reports or sales department reports. Marketing results, instead, portray smaller metrics out of the performance of a marketing department. Sales representative's call reports are an example of marketing results.
Brandon Consulting Company is headquartered in Atlanta and has branch offices in Nashville and Birmingham. Brandon uses an activity-based costing system. The Atlanta office has its costs for Administration and Legal allocated to the two branch offices. Brandon has provided the following information: Activity Cost Pool Cost Driver Costs Administration % of time devoted to branch $700,000 Legal Hours spent on legal research $138,000 % of time devoted to branch Hours spend on legal research Nashville 80% 18,000 Birmingham 20% 6,000 How much of Atlanta’s cost will be allocated to Nashville? $628,500 $663,500 $670,400 None of these answer choices are correct
Answer:
The Atlanta's cost allocated to Nashville will be $663,500.
Explanation:
Administration: $700,000 x 80% = $560,000
Legal: $138,000 x [18,000 ÷ (18,000 + 6,000)] = $103,500
Solution: $560,000 + $103,500 = $663,500.
Coca-Cola acquired its bottlers and created a national vertically integrated business operation in 2010. After spending 12.3 billion USD to acquire Coca-Cola Enterprises, its largest bottling partner, it reversed course in 2015 and sold off all its bottling operations. This is an example of a failed diversification effort.
Coca-Cola acquired its bottlers and created a national vertically integrated business operation in 2010. After spending 12.3 billion USD to acquire Coca-Cola Enterprises, its largest bottling partner, it reversed course in 2015 and sold off all its bottling operations. This is an example of a failed diversification effort.
Explanation:
Diversification efforts are taken by the organizations to achieve desired outcomes but sometimes they fail in it. The following are the reason for failure of diversification effort:
- failing to integrate acquisitions
- unable to understand how the acquired organization’s assets would fit with their own lines of business
- paying high premium for the target's common stock
- not acting in best interest of shareholders
The diversification strategy is adopted by many organizations to develop its business. In the above scenario, Coca-Cola Enterprises adopted diversification effort but failed in it.
Career Situation: What Would You Do? For some years now, you’ve owned a small specialty bookshop in a college town. You sell some textbooks but mainly cater to a broader customer base. Your store always stocks the latest fiction, nonfiction, and children’s books. Recent numbers show a steep decline in sales, including of books that would normally be considered best sellers. You suspect this is because of the growing popularity of e-books and e-readers such as the Amazon Kindle and Barnes & Noble Nook. Some of your friends say it’s time to close up because your market is dying. Is it hopeless, or is there a business strategy that might yet save the store?
Answer:
Considering the current market and the wide growth of e-books, I would prefer to close the bookstore and establish a new business.
Explanation:
The bookstore shown in the question above has a greater focus on academic books, since it is established in a university city.
As we know, academic books tend to have high economic value, in addition to being heavy and intended for university students, who generally have reduced and weakened economic power. In this scenario, these students will prefer to use digital books, as they are cheaper, do not take up space and can all be taken to class through a digital reader.
In other words, students will prefer to buy digital books, which shows the impending decline in bookstore sales, which even if it offered discounts and promotions would not be able to compete with the attractive prices of digital books.
In that case, I would prefer to close the bookstore and start a more profitable and promising new business.
Aspen Company estimates its manufacturing overhead to be $515,000 and its direct labor costs to be $515,000 for year 2. Aspen worked on three jobs for the year. Job 2-1, which was sold during year 2, had actual direct labor costs of $221,400. Job 2-2, which was completed, but not sold at the end of the year, had actual direct labor costs of $459,200. Job 2-3, which is still in work-in-process inventory, had actual direct labor costs of $139,400. Actual manufacturing overhead for year 2 was $805,900. Manufacturing overhead is applied on the basis of direct labor costs. Required: Prepare an entry to allocate over- or underapplied overhead to Work in Process, Finished Goods and Cost of Goods Sold. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
[tex]\frac{Cost\: Of \:Manufacturing \:Overhead}{Cost \:Driver}= Overhead \:Rate[/tex]
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept
[tex]\left[\begin{array}{cccc}Item&Value&Weight&Allocated\\COGS&221400&0.27&3807\\FG&459200&0.56&7896\\WIP&139400&0.17&2397\\&&&\\Total&820000&1&14100\\\end{array}\right][/tex]
Are budgets part of the performance measurement system or the performance reward system? a. Part of both the performance measurement system and the performance reward system b. Part of the performance measurement system only c. Part of neither the performance measurement system nor the performance reward system d. Part of the performance reward system only
Answer:
The correct answer is letter "A": Part of both the performance measurement system and the performance reward system.
Explanation:
Budgets are estimates a company outlines at the beginning of a period to determine the expenditures that must be incurred during the operations of the firm for the whole year. Part of the managers' work is evaluated based on how close the actual expenses match the budgeted estimates.
In case the company's expenses are higher, investors may not consider the performance of the executives and the overall firm as appropriate. If the expenses are below the budget estimate at the productivity level desired, investors could be interested in maintaining or improving the current business process and being the rewards for managers higher.
Answer:
b. Part of both the performance measurement system and the performance reward system
Explanation:
You have developed the following data on three stocks: Stock A has a standard deviation of .15 and a Beta of .79. Stock B has a standard deviation of .25 and a Beta of .61. Stock C has a standard deviation of .10 and a Beta of 1.29. If you are a risk minimizer, you should choose Stock _____ if it is to be held in isolation and Stock _____ if it is to be held as part of a well-diversified portfolio.
Answer:
As a risk minimizer : Stock A has the lowest standard deviation, thus, it should be chosen, if it is to be held in isolation . Also stock B has the lowest beta, thus,it should be chosen, if it is to be held as part of a well - diversified portfolio.
The answer is A and B respectively
Explanation:
The standalone risk or standard deviation of the stocks is alleviated for a well diversified investor . So, in that case, the relevant risk would be the market risk or the beta.
When you see in isolation, relevant risk would be the standard deviation.
Therefore, as a risk minimizer : Stock A has the lowest standard deviation, thus, it should be chosen, if it is to be held in isolation . Also stock B has the lowest beta, thus,it should be chosen, if it is to be held as part of a well - diversified portfolio.
Ever since the organization began a group incentive program, John has noticed that his team appears more loyal to one another than they were before the group incentive program began.
This illustrates which advantage of group incentives?
a. promotes better teamwork
b. broadens individual outlook
c. requires less supervision
d. is easier to develop than individual incentive programs
Answer:
The correct answer is letter "A": promotes better teamwork.
Explanation:
Group incentives represent all the efforts managers make to keep their subordinates motivated collectively. This is achieved by different methods such as introducing a new bonus to the team that performs better allowing teams to take more decisions on their duties. By doing so, members of a group are likely to improve their engagement with other coworkers in the pursuit of achieving an objective.
Teamwork is highly promoted by incentivizing groups compared to motivating individuals separately.
Acme Products has a bond issue outstanding with 8 years remaining to maturity, a coupon rate of 10% with interest paid annually, and a par value of $1,000. If the current market price of the bond issue is $814.45, what is the yield to maturity, rd
Answer:
14%
Explanation:
Using the equation,
1. c(1 + r)/1 + c(1 + r)/2 + . . . + c(1 + r)/Y + B(1 + r)/Y = P
where
c is annual coupon payment (in dollars, not a percent)
So c = 10% of $1000
=$100
Y is number of years to maturity = 8
B is par value =$1000
P is purchase price $814.45
r is yield to maturity, rd
Therefore substitute the values
100(1+r)/1 + 100(1+r)/2 + 100(1+r)/3 + 100(1+r)/4 + 100(1+r)/5 + 100(1+r)/6 + 100(1+r)/7 + 100(1+r)/8 + 1000(1+r)/8 = 814.45
yield to maturity, rd =14.00%
Simon Inc. currently produces 110,000 units at a cost of $440,000. The cost is variable. Next year Simon Inc. expects to produce 115,000 units. Simon's relevant range for production is 100,000 to 120,000 units. If 115,000 units are produced next year, what is the expected variable cost
Final answer:
To calculate the expected variable cost for producing 115,000 units, the variable cost per unit ($4) is multiplied by the number of units (115,000), equaling $460,000.
Explanation:
When determining the expected variable cost of producing 115,000 units at Simon Inc., we first need to establish the variable cost per unit. Given that Simon Inc. is currently producing 110,000 units at a variable cost of $440,000, the unit variable cost is calculated by dividing the total variable costs by the number of units produced. This results in a cost of $4 per unit ($440,000 / 110,000 units).
Since variable costs vary directly with the level of production within the relevant range, and Simon Inc. is expected to produce 115,000 units next year which falls within the relevant range of 100,000 to 120,000 units, we can simply multiply the unit variable cost by the number of units expected to be produced.
Therefore:
Variable cost per unit = $440,000 / 110,000 = $4 per unitExpected variable cost for 115,000 units = 115,000 units * $4 per unitExpected variable cost = $460,000Final answer:
The expected variable cost for Simon Inc. to produce 115,000 units next year, based on the current production of 110,000 units at a cost of $440,000, is calculated to be $460,000.
Explanation:
To calculate the expected variable cost for producing 115,000 units next year when Simon Inc. currently produces 110,000 units at a variable cost of $440,000, we need to use a cost-variable relationship based on the principle of proportionality within the relevant range. The given relevant range is from 100,000 to 120,000 units, which Simon Inc. is within. Thus, to find the variable cost per unit, we divide the total variable cost by the number of units currently produced:
Total Variable Cost / Number of Units = Variable Cost per Unit.$440,000 / 110,000 units = $4 per unit.Next, we multiply the cost per unit by the new production amount:
Variable Cost per Unit x Number of Units (next year) = Expected Total Variable Cost Next Year.$4 per unit x 115,000 units = $460,000Therefore, if Simon Inc. produces 115,000 units next year, the expected variable cost is $460,000.
C&A Fast Food has four activities in serving a customer: greet customer, take order, process order, and deliver order. Each activity is staffed by one employee (for a total of four employees). The processing time for each activity is given as follows:
Activity
Processing time per customer
Wage rate
($ Per hour)
Greet customer
2 seconds
5
Take order
30 seconds
5
Process order
60 seconds
15
Deliver order
5 seconds
8
Assume demand is unlimited. If one additional employee is added to the bottleneck activity, what will be the cost of direct labor in $ per customer？
A.0.275
B.0.3125
C.0.40
D.
0.50
Answer:
B.0.3125
Explanation:
The computation of the cost of direct labor in $ per customer is shown below:
= Total employee cost ÷ take order time
where,
Total employee cost equal to
= Each employee wages rate per hour × number of employees
= $7.5 × 5
= $37.5
And, the take order time is
= 30 × 4 employees
= 120
So, the cost of direct labor per customer is
= $37.5 ÷ 120
= 0.3125
The bottleneck activity 'Process order' is the longest and has a wage rate of $15 per hour. In an hour, one employee serves 60 customers, leading to $0.25 per customer. When one more employee is added, the cost doubles, which is $0.50.
Explanation:The bottleneck activity in this scenario is the one that takes the longest time, which is 'Process order'. This activity takes 60 seconds (i.e., 1 minute) per customer and has a wage rate of $15 per hour. Therefore, if one additional employee is added to this activity, the cost of direct labor per customer increases. To calculate the cost per customer, we divide the wage rate by the number of customers served in an hour. We know there are 60 minutes in an hour and each customer takes 1 minute, so the employee serves 60 customers in an hour. So, $15/60 = $0.25 per customer. This is the direct labor cost for one employee. If an additional employee is added, the cost doubles, so the cost of direct labor per customer would be $0.25*2 = $0.50.
Learn more about Labor Cost here:https://brainly.com/question/27019942
#SPJ3
9. At what rate per annum should P2400 be invested so that it will earn an interest of P800 in 8 years? a. 6 ½ % b. 5 ½ % c. 4.17 % d. 6 %
Answer: 4.17%
Explanation:
in the attachment
To determine the annual interest rate for P2400 to earn P800 in 8 years, use the simple interest formula. Solving for the rate yields 4.17%. Thus, the correct answer is 4.17%.
Finding the Annual Interest Rate
To determine the annual interest rate needed for an investment of P2400 to earn an interest of P800 in 8 years, we will use the formula for simple interest:
Simple Interest formula: I = P * r * t, where:
I is the interest earned (P800)P is the principal amount (P2400)r is the annual interest rate (what we need to find)t is the time in years (8)We rearrange the formula to solve for r:
r = I / (P * t)
Substitute the given values into the formula:
r = 800 / (2400 * 8)
r = 800 / 19200
r = 1/24
r ≈ 0.04167
To convert this to a percentage, multiply by 100:
r ≈ 4.17%
Thus, the answer is:
c. 4.17%
In organizations where a majority of workers perform repetitive operations, there is often a lack of... Group of answer choices a management hierarchy. administrative oversight. purpose. job security.
Answer:
purpose.
Explanation:
When workers perform repititive functions that do not change day to day, they are most likely not involved in activities that gives understanding of the companie's goals. There is a disconnect from the business mission and vision of the business.
To be actively involved in the purpose of a business one has to be part of the decision-making process where there is variety in tasks to be accomplished.
For example in an automobile manufacturing company, the person that paints the cars everyday is not involved in decisions affecting business direction and ultimately it's purpose.
Daba Company manufactures two products, Product F and Product G. The company expects to produce and sell 1,630 units of Product F and 2,060 units of Product G during the current year. The company uses activity-based costing to compute unit product costs for external reports. Data relating to the company's three activity cost pools are given below for the current year:
Total Activity
Activity Cost Pool Total Cost Product F Product G Total
Machine setups $ 37,290 144 setups 195 setups 339 setups
Purchase orders $ 165,240 890 orders 1,150 orders 2,040 orders
General factory $ 123,690 2,440 hours 4,070 hours 6,510 hours
Required:
Using the activity-based costing approach, determine the overhead cost for each product line. (Omit the "$" sign in your response.)
Product F Product G
Total Overhead cost $ _____ $ _____
Answer:
Explanation:
Activity cost pool:
Machine setupsCost = $37,290
Total activity for both products = 339
Overhead rate = $37,290/339 = $110
Purchase ordersCost = $165,240
Total activity for both products = 2040
Overhead rate = $165,240/2040 = $81
General factoryCost = $123,690
Total activity for both products = 6510
Overhead rate = $123,690/6510= $19
Product F total overhead cost:
Machine setups = $110*144 = $15,840
Purchase orders = $81*890 = $72,090
General factory = $19* 2,440 = $46,360
Total = $134,290
Product G total overhead cost:
Machine setups = $110*195= $21,450
Purchase orders = $81*1150= $93,150
General factory = $19* 4070= $77,330
Total = $191,930
Final answer:
To calculate the overhead cost for each product using activity-based costing, calculate the cost per activity, then allocate these costs to each product. Product F's total overhead cost is $134,290, and Product G's total overhead cost is $191,930.
Explanation:
To determine the overhead cost for each product line using activity-based costing, we first need to calculate the cost per activity for each cost pool. This is done by dividing the total cost by the total activity for each pool.
Machine setups cost pool:
Cost per setup = Total Cost of Machine Setups / Total Number of SetupsPurchase orders cost pool:
Cost per order = Total Cost of Purchase Orders / Total Number of OrdersGeneral factory cost pool:
Cost per hour = Total Cost of General Factory Work / Total Number of HoursNow, we allocate these costs to each product:
Product F's overhead cost:
Machine setups: 144 setups x $110 per setup = $15,840Purchase orders: 890 orders x $81 per order = $72,090General factory: 2,440 hours x $19 per hour = $46,360Total overhead cost for Product F = $15,840 + $72,090 + $46,360 = $134,290Product G's overhead cost:
Machine setups: 195 setups x $110 per setup = $21,450Purchase orders: 1,150 orders x $81 per order = $93,150General factory: 4,070 hours x $19 per hour = $77,330Total overhead cost for Product G = $21,450 + $93,150 + $77,330 = $191,930Dana wants to give Fleesum's employees more freedom to schedule when they begin and end their work days. Her plan still requires employees to work eight hours per day, but allows them to start as early as 7:00 a.m. or as late as 9:00 a.m., and leave as early as 4:00 p.m. or as late as 6:00 p.m. Her plan also requires all workers to be on the job between 9:00 a.m. and noon, and between 2:00 p.m. and 4:00 p.m. The type of plan Dana wants to implement is known as a:
Answer:
The correct answer is letter "B": flextime plan.
Explanation:
A flextime plan consists in linking production hours with the availability of the individuals involved in a project or work. The different timeframes of availability do not affect the operations' peak hours either the total amount of hours those individuals must work in day or week.
The flextime plan aims to provide individuals the flexibility to choose the working schedule that matches better with their personal activities which may increase their commitment to the firm and productivity.
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units. 33,000 were in process In the production department at the beginning of April and 260,000 we started and completed In April. April's beginning Inventory units were 70% complete with respect to materials and 30% complete with respect to conversion. At the end of April, 65,000 additional units were in process In the production department and we 70% complete with respect to materials and 20% complete with respect to conversion. 1. Compute the number of units transferred to finished goods. Units transferred out 2. Compute the number of equivalent units with respect to both materials used and conversion used In the production department for April using the weighted-average method.
Answer:
1) completed and transferred 293,000
Equivalent units under W/A method:
EU materials 338,500
EU conversion 306,000
Explanation:
Beginning WIP 33,000
started and completed 260,000
completed and transferred 293,000
Ending WIP 65,000
EU under weighted-average methood:
complete and transferred plus percentage of completion ending WIP
293,000 + 65,000 x 70% = 338,500
293,000 + 65,000 x 20% = 306,000
Overton Company has gathered the following information. Units in beginning work in process 21,200 Units started into production 178,800 Units in ending work in process 25,700 Percent complete in ending work in process: Conversion costs 60 % Materials 100 % Costs incurred: Direct materials $100,000 Direct labor $373,074 Overhead $186,600
(a) Compute equivalent units of production for materials and for conversion costs.
(b) Determine the unit costs of production.
(c) Show the assignment of costs to units transferred out and in process.
Answer:
(a) 200,000; 189,720
(b) $0.5; $2.95
(c) $601,335
Explanation:
(a) Units transferred out:
= Beginning work in process + Started into production - Ending work in process
= 21,200 units + 178,800 units - 25,700 units
= 174,300
Equivalent units of production for materials:
= Units transferred out + Work in process at April 30
= 174,300 + (100% × 25,700)
= 174,300 + 25,700
= 200,000 units
Equivalent units of production for conversion costs:
= Units transferred out + Work in process at April 30
= 174,300 + (60% × 25,700)
= 174,300 + 15,420
= 189,720 units
(b) Unit costs of production for material:
= Total material costs ÷ Equivalent units of production for materials
= $100,000 ÷ 200,000
= $0.5
Unit costs of production for conversion:
= Total conversion costs ÷ Equivalent units of production for conversion
= ($373,074 + $186,600) ÷ 189,720
= $559,674 ÷ 189,720
= $2.95
(c) Cost to units transferred out and in process:
= Units transferred out × Total cost per unit
= 174,300 × ($0.5 + $2.95)
= 174,300 × $3.45
= $601,335
To compute various production costs and assign them appropriately, we must calculate equivalent units for materials and conversion costs, determine the unit costs of production, and allocate the costs to units transferred out and in process based on their completion percentages and costs incurred. Materials are considered completely processed, while conversion costs are 60% complete for the ending work in process.
To answer the student's question, we need to calculate the equivalent units of production for materials and conversion costs, determine the unit costs of production, and then assign the costs to the units transferred out and in process.
Equivalent Units of Production
Materials: Since materials are 100% complete for units in ending work in process (WIP), equivalent units for materials = Units started into production + Units in beginning WIP - Units in ending WIP. Equivalent units for materials = 178,800 + 21,200 - 25,700 = 174,300 units.
Conversion costs: For conversion costs, consider the percentage completion. Equivalent units for conversion costs = (Units started into production + Units in beginning WIP - Units in ending WIP) + (Percent complete of ending WIP * Units in ending WIP). Equivalent units for conversion costs = (178,800 + 21,200 - 25,700) + (60% x 25,700) = 174,300 + 15,420 = 189,720 units.
Unit Costs of Production
Sum of direct materials, direct labor, and overhead costs = $100,000 + $373,074 + $186,600 = $659,674. Unit cost for materials = Total direct materials / Equivalent units for materials = $100,000 / 174,300 units = $0.57 per unit. Unit cost for conversion costs = Total conversion costs (direct labor + overhead) / Equivalent units for conversion costs = ($373,074 + $186,600) / 189,720 units = $2.95 per unit.
Assignment of Costs to Units Transferred Out and In Process
Units transferred out = Units started into production - Units in ending WIP. Assigned cost to units transferred out = (Units transferred out * Unit cost for materials) + (Units transferred out * Unit cost for conversion costs). Assigned cost to units transferred out = ((178,800 - 25,700) x $0.57) + ((178,800 - 25,700) x $2.95). Assigned cost to ending WIP = (Equivalent units for materials * Unit cost for materials) + (Equivalent units for conversion costs for ending WIP x Unit cost for conversion costs). Assigned cost to ending WIP = (25,700 x $0.57) + (15,420 * $2.95).
The following items appear on the balance sheet of a company with a two-month operating cycle. Identify the proper classification of each item as follows: C if it is a current liability, L if it is a long-term liability, or N if it is not a liability, 1. Notes payable (due in 13 to 24 months). 2. Notes payable (due in 6 to 12 months). 3. Notes payable (mature in five years). 4. Current portion of ling-term debt. 5. Notes payable (due in 120 days). 6. FUTA taxes payable. 7. Accounts receivable. 8. Sales taxes payable. 9. Salaries payable. 10. Wages payable.
Answer:
Notes payable(due in 13 to 24 months)-L
Notes payable (due in 6 to 12 months)-C
Notes payable (mature in five years)-L
Current portion of long-term debt-C
Notes payable(due in 120 days) -C
FUTA taxes payable -C
Accounts receivable-N
Sales taxes payable-C
Salaries payable-C
Wages payable-C
Explanation:
A liability is a current one if it is due between today and the next one year(12 months),however any liability whose payment date is beyond one year is classified as long-term liability.
True or false: Native advertising is being studied by both industry associations and US federal government regulators, who are concerned with the blurring of lines between editorial content and advertising.
Answer:
The statement is: True.
Explanation:
Native advertising refers to matching the form and function of the promotion with the medium it is being published. In other words, it is the type of advertising transmitted in a similar medium of what the product might be used for. Nowadays it is more commonly spread in social media and the products inherent with its use.
The Federal Trade Commission Act (FTC) is in charge of the advertising in the U.S. Along with the government, the FTC reviews deceiving promotion that does not link the content of the products offered with their true form. The Bureau of Consumer Protection is the body that enforces regulation on fraudulent marketing practices granted by the FTC.
Final answer:
Native advertising is being studied by both industry associations and US federal government regulators, who are concerned with the blurring of lines between editorial content and advertising. - True
Explanation:
Native advertising is designed to match the form and function of the platform upon which it appears, leading to a potential conflict of interest for genuine news organizations. The concern arises as these advertisements, which are made to look like editorial content, blur the lines between journalism and promotion, making it challenging for readers to distinguish between unbiased news and paid content.
Legally, there have been a variety of regulations imposed on businesses to prevent false or misleading practices, including the prohibition of false advertising. The federal government and courts have also required disclosures on certain products, like food and tobacco, and have regulated professions such as lawyers in their advertising practices to maintain transparency and prevent fraud.
Raner, Harris, & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm has two offices�one in Chicago and one in Minneapolis. The firm classifies the direct costs of consulting jobs as variable costs. A contribution format segmented income statement for the company�s most recent year is given below:
Office
Total Company Chicago Minneapolis
Sales $ 450,000 100 % $ 150,000 100 % $ 300,000 100 %
Variable expenses 225,000 50 % 45,000 30 % 180,000 60 %
Contribution margin 225,000 50 % 105,000 70 % 120,000 40 %
Traceable fixed expenses 126,000 28 % 78,000 52 % 48,000 16 %
Office segment margin 99,000 22 % $ 27,000 18 % $ 72,000 24 %
Common fixed expenses not
traceable to offices 63,000 14 %
Net operating income $ 36,000 8 %
1-a. Compute the companywide break-even point in dollar sales.
1-b. Compute the break-even point for the Chicago office and for the Minneapolis office.
1-c. Is the companywide break-even point greater than, less than, or equal to the sum of the Chicago and Minneapolis break-even points?
Explanation:
1. The computation of the company wide break-even point in dollar sales is shown below:
Break even point = (Traceable fixed expenses + Common fixed expenses ) ÷ (Profit volume Ratio)
where,
Contribution margin = Sales - Variable expenses
= $450,000 - $225,000
= $225,000
And, Profit volume ratio = (Contribution margin) ÷ (Sales) × 100
= ($225,000) ÷ ($450,000) × 100
= 50%
So, the company wide break even point in dollar sales is
= ($126,000 + $63,000) ÷ (50%)
= $378,000
b. For Chicago
Break even point = (Traceable fixed expenses) ÷ (Profit volume Ratio)
where,
Contribution margin = Sales - Variable expenses
= $150,000 - $45,000
= $105,000
And, Profit volume ratio = (Contribution margin) ÷ (Sales) × 100
= ($105,000) ÷ ($150,000) × 100
= 70%
So, the company wide break even point in dollar sales is
= ($78,000) ÷ (70%)
= $111,429
For Minneapolis
Break even point = (Traceable fixed expenses) ÷ (Profit volume Ratio)
where,
Contribution margin = Sales - Variable expenses
= $300,000 - $180,000
= $120,000
And, Profit volume ratio = (Contribution margin) ÷ (Sales) × 100
= ($120,000) ÷ ($300,000) × 100
= 40%
So, the company wide break even point in dollar sales is
= ($48,000) ÷ (40%)
= $120,000
c. The company wide break even point in sales dollars is $378,000 and the total is $111,429 + $120,000 = $231,429
So, the company wide break even point is greater than the sum of the Chicago and Minneapolis break-even points due to the common fixed expenses
The company-wide break-even point in dollar sales is $378,000, and for the Chicago office and for the Minneapolis office it will be $111,429 and $120,000.
What is break even-point?
The break even-point is defined as the market condition where there is no profit and no loss to the seller. The producer of any product is just cover up the cost of their product.
Computation of break even-point in the given cases:Calculation of the company's dollar sales break-even point:
Break even point = Fixed Cost ÷ (Profit volume Ratio)
Now, according to the given information,
Fixed Cost = Traceable fixed expenses + Common fixed expenses.
Fixed Cost = $126,000 + $63,000
Fixed Cost = $189,000.
Then, there is a need to find out the Profit volume ratio, this can be computed as:
Profit volume ratio = (Contribution margin) ÷ (Sales) × 100
Now, the contribution margin can be computed as:
Contribution margin = Sales – Variable expenses
Contribution margin = $450,000 – $225,000
Contribution margin = $225,000.
Then, Profit volume ratio = ($225,000) ÷ ($450,000) × 100
Profit volume ratio = 50%
Therefore, the company-wide break even point in dollar sales are:
Break even point sales = $189,000÷ (50%)
Break even point sales = $378,000.
Computation of break even-point for Chicago:This can also be computed as the formula of case 1:
Break even point = (Traceable fixed expenses) ÷ (Profit volume Ratio)
Contribution margin = Sales – Variable expenses
Contribution margin = $150,000 – $45,000
Contribution margin = $105,000
And, Profit volume ratio = (Contribution margin) ÷ (Sales) × 100
Profit volume ratio = ($105,000) ÷ ($150,000) × 100
Profit volume ratio = 70%
Then, the company-wide break even point in dollar sales are:
Break even point sales = ($78,000) ÷ (70%)
Break even point sales= $111,429
For Minneapolis:
Contribution margin = $300,000 – $180,000
Contribution margin = $120,000
And, Profit volume ratio = ($120,000) ÷ ($300,000) × 100
Profit volume ratio = 40%
Therefore, the company-wide break even point in dollar sales is
Break even point sales= ($48,000) ÷ (40%)
Break even point sales= $120,000
In sales dollars, the company's break even point is $378,000, for a total of $111,429 + $120,000 = $231,429As a result of the common fixed expenses, the company's break-even point is greater than the sum of the break-even points in Chicago and Minneapolis.
Learn more about the break-even point, refer to:
https://brainly.com/question/15356272
#SPJ5
Consider this argument: "The kidnappers have taken eight people hostage and are holding them at a farmhouse just outside town. If the SWAT team assaults the farmhouse, the hostages could be killed. But if we give into the kidnappers' demands for ransom and safe passage out of the country, we'll only be encouraging more kidnappings of innocent people. What can we do
Answer:
all you have to do is surround the farm house next put c4 on the swat team let the people with c4 on them run in there and someone explodes him/her and save the dayExplanation:i did it before
From the From the dropdown box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices. box beside each numbered balance sheet item, select the option of its balance sheet classification. If the item should not appear on the balance sheet, choose the option "No item required" from the selection choices.
Answer:
The table has been shown in the attachment and the classifications indicated below it
Explanation:
Accurate balance sheet classification is essential. Current assets like cash, accounts receivable, and inventory are vital, while long-term assets, liabilities, and equity require proper placement.
In financial accounting, accurate classification of balance sheet items is vital for transparent financial reporting. Cash and cash equivalents, representing liquid assets, are classified as current assets. Accounts receivable, money owed by customers, is also a current asset. Inventory, goods ready for sale, falls under current assets too. Property, plant, and equipment, long-term assets like buildings and machinery, are non-current assets.
Accounts payable, money owed to suppliers, is a current liability, while long-term debt, loans payable over several years, is a non-current liability. Shareholder's equity, representing the owners' residual interest, is placed under equity. It's important to choose "No item required" for entries that don't belong on the balance sheet, ensuring a precise and comprehensive presentation of the company's financial status.
For more questions on Balance sheet
https://brainly.com/question/37716737
#SPJ3
On November 30, Petrov Co. has $137,000 of accounts receivable and uses the perpetual inventory system. Dec. 4 Sold $5,620 of merchandise (that had cost $3,597) to customers on credit, terms n/30. 9 Sold $19,180 of accounts receivable to Main Bank. Main charges a 8% factoring fee. 17 Received $3,091 cash from customers in payment on their accounts. 27 Borrowed $10,960 cash from Main Bank, pledging $14,248 of accounts receivable as security for the loan. (1) Prepare journal entries to record the above transactions. (2) Which transaction would most likely require a note to the financial statements?
Solution:
Date General Journal Debit Credit
July 04 Accounts receivable 5,620
Sales 5,620
July 04 Cost of goods sold 3,597
Merchandise inventory 3,597
July 09 Cash 19,200
Factoring fee expense 800
Accounts receivable 20,000
July 17 Cash $3,091
Accounts receivable $3,091
July 27 Cash 10,960
Notes payable 10,960
July 27 No journal entry required
A company sells two models of a product—basic and premium. The basic model has a variable cost of $75 and sells for $100. The premium model has a variable cost of $100 and sells for $150. Fixed costs are $15,000. If the company usually sells 5,000 basic models and 2,500 premium models, then the break-even point in composite units is _________ units.
What are the steps?
Answer:
Beak-even point = 450 units
Explanation:
The break-even point is the level of activity where a business makes no profit or loss. At this level of activity, the total contribution equals the total fixed costs.
To calculate the break even point in a multi product scenario, we use the formula below:
Break-even point = Fixed cost for the period / average contribution per unit
Average contribution per unit = Total contribution in a mix/ units in a mix
We will follow the steps below to work out the Break-even point:
Step 1
Calculate the average contribution per unit
contribution per unit for each product= selling price - variable cost
Basic model = 100- 75 = $25
Premium model = 150 - 100 = $50
Average contribution per unit = ( 5000 × $25) + (2500 × $50)
( 5000 + 2500) units
= $33.33 per unit
Step 2
Calculate the Break-even point
Break even point = $15,000/ $33.33
= 450 units
Answer:
BEP MIX = 450
Explanation:
[tex]\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}[/tex]
Where:
[tex]Sales \: Revenue - Variable \: Cost = Contribution \: Margin[/tex]
The contribution represent the value of the sale after deducting the cost to generate the sale:
Item A
100 - 75 = 25 dollars
Item B
150 - 100 = 50 dollars
The unit sales ratio is 5,000:2,500 which is 2:1
Thus:
25 x 2/3
+ 50 x 1/3
contribution of the mix:
33.33333333
Now we return to the break even point formula:
[tex]\frac{Fixed\:Cost}{Contribution \:Margin} = Break\: Even\: Point_{units}[/tex]
[tex]\frac{15,000}{33.33} = Break\: Even\: Point_{units}[/tex]
BEP = 450
Issuers can gradually reduce the outstanding balance of a bond issue by using a sinking fund account into which they deposit a specified amount of money each year. To operationalize the sinking fund provision of an indenture, issuers can (1) purchase a portion of the debt in the open market or (2) call the bonds if they contain a call provision. Under what circumstances would a firm be more likely to buy the required number of bonds in the open market as opposed to using one of the other procedures?
Final answer:
A firm is more likely to buy bonds in the open market for their sinking fund when the bonds are trading below their face value or callable price, which allows them to reduce their debt at a lower cost. This can be more cost-effective and discreet compared to other redemption strategies.
Explanation:
A firm might be more likely to buy the required number of bonds in the open market as opposed to using other procedures if the market price of the bonds is below their face value or callable price. This situation becomes advantageous for the firm as it allows them to reduce the outstanding balance on their bonds at a lower cost than calling them or waiting for maturity. If interest rates have risen since the bonds were issued, the bonds might be trading at a discount, making it cheaper for the issuer to buy back its debt in the open market. Additionally, purchasing bonds on the open market can be done gradually and discreetly, avoiding the potential for price spikes that might occur with a large call or if the market anticipates the buying activity.
Conversely, if the bonds are trading at a premium in the market, the issuer may consider using the call provision if it is economically beneficial or waiting until the maturity date to repay the face value of the bonds. Decisions on whether to buy back bonds or use a call provision also depend on the firm's current financial situation, future investment opportunities, and overall market conditions.