Answer:
Option (A) is correct.
Explanation:
Given that,
Direct materials = $58,500
Direct labor = $66,000
Manufacturing overhead = 120% of direct labor cost
Opening WIP = $30,800
Cost of goods manufactured:
= Direct materials + Direct labor + Manufacturing overhead
= $58,500 + $66,000 + 120% of direct labor cost
= $58,500 + $66,000 + (120% × $66,000)
= $58,500 + $66,000 + $79,200
= $203,700
December 31 balance of Work-in-Process Inventory:
= Opening WIP + cost of goods manufactured - cost of goods completed
= $30,800 + $203,700 - $220,700
= $13,800
Final answer:
The December 31 balance of Work-in-Process Inventory is calculated by adding the starting inventory to the total manufacturing costs incurred and then subtracting the cost of completed jobs. The ending balance is $13,800.
Explanation:
To calculate the December 31 balance of Work-in-Process (WIP) Inventory, we need to account for all manufacturing costs added during the year. We begin with the starting WIP inventory balance. Then we add the costs of direct materials, direct labor, and manufacturing overhead to calculate the total manufacturing costs incurred for the year. Finally, we subtract the cost of jobs completed during the year from this total to find the ending WIP inventory balance.
Starting WIP Inventory: $30,800
Direct Materials Used: $58,500
Direct Labor: $66,000
Manufacturing Overhead (allocated at 120% of direct labor cost): $66,000 imes 120% = $79,200
Total Manufacturing Costs Incurred: $30,800 + $58,500 + $66,000 + $79,200 = $234,500
Completed Jobs Cost: $220,700
Ending WIP Inventory: $234,500 - $220,700 = $13,800
Therefore, the December 31 balance of Work-in-Process Inventory is $13,800.
Why did the Thibodaux workers go on strike? Was the strike successful? What accounts for its success or lack of success
Answer:
Thibodaux workers went on strike to protest against sugar cane plantations in four parishes which are Lafourche, Terrebonne, St. Mary, and Assumption.
No, the strike was not successful.
The unscheduled return to work by some workers before the end of the strike, makes it unsuccessful. The aftermath of the strike resulted to violence leading to death of many black workers and their families, as well injuries to many others.
Manuel Acala is a marketing analyst, but made only $28,000 last year because he was employed only part of the year. He paid $5,000 in taxes, and spent another $10,000 for food, housing, a car, and other "necessities." Manuel's discretionary income was:
Answer:
$13000
Explanation:
There are two types of incomes; disposable income that is the income after paying income tax, and discretionary income that is the income after paying income taxes and necessities. Overall, the Manuel Acala made $28000; he paid $5000 in taxes.
Disposable income= $28000-$5000 = $23000
He spent $10000 on food
Discretionary income = $23000-$10000= $13000
Pele Arnaz is a plant foreman for a generator manufacturer. He spends his day carrying out operational plans for the ongoing daily activities of the plant. Arnaz is a ____ manager.A. functional
B. coordination
C. supervisory
D. middle
E. stratrgic
Answer:
The correct answer is letter "C": supervisory.
Explanation:
Supervisory management is the type of role executives play when there is little involvement with the direct activities of employees. These types of managers tend to be more worried about making plans to achieve the firm's goals. However, the executive still imposes regulations and enforces corporate norms when necessary.
Pele Arnaz is a supervisory manager, responsible for day-to-day task accomplishment and overseeing the daily activities of the plant he manages.
Pele Arnaz, as a plant foreman for a generator manufacturer who spends his day carrying out operational plans and managing daily activities of the plant, is best described as a supervisory manager. This type of manager falls into the category characterized by focusing on the day-to-day task accomplishment, maintaining establishment, and adhering to the rules and regulations. According to Hersey and Blanchard's situational-leadership model, Arnaz's role involves overseeing the day-to-day tasks of his subordinates, which aligns closely with the supervisory level of management within the organization.
Hence, Pele Arnaz, as a plant foreman for a generator manufacturer who spends his day carrying out operational plans and managing daily activities of the plant, is best described as a supervisory manager.
Assuming that data mining techniques are to be used in the following cases, identify whether the task required is supervised or unsupervised learning. a. Deciding whether to issue a loan to an applicant based on demographic and financial data (with reference to a database of similar data on prior customers). b. In an online bookstore, making recommendations to customers concerning additional items to buy based on the buying patterns in prior transactions. c. Identifying a network data packet as dangerous (virus, hacker attack) based on comparison to other packets whose threat status is known. d. Identifying segments of similar customers. e. Predicting whether a company will go bankrupt based on comparing its financial data to those of similar bankrupt and nonbankrupt firms. f. Estimating the repair time required for an aircraft based on a trouble ticket. g. Automated sorting of mail by zip code scanning. h. Printing of custom discount coupons at the conclusion of a grocery store checkout based on what you just bought and what others have bought previously
Answer:
Explanation:
A Supervised learning allows you to collect data or produce a data output from the previous experience while an unsupervised learning you do not need to supervise the model.
A. Deciding whether to issue a loan to an applicant based on demographic and financial data (with reference to a database of similar data on prior customers). - Supervised learning
B. In an online bookstore, making recommendations to customers concerning additional items to buy based on the buying patterns in prior transactions. - Unsupervised learning
c. Identifying a network data packet as dangerous (virus, hacker attack) based on comparison to other packets whose threat status is known - Supervised learning
d. Identifying segments of similar customers. - Unsupervised learning
e. Predicting whether a company will go bankrupt based on comparing its financial data to those of similar bankrupt and nonbankrupt firms. - Supervised learning
f. Estimating the repair time required for an aircraft based on a trouble ticket. - supervised learning
g. Automated sorting of mail by zip code scanning. - Supervised learning
H. Printing of custom discount coupons at the conclusion of a grocery store checkout based on what you just bought and what others have bought previously - Unsupervised learning
The described data mining tasks are examples of either supervised or unsupervised learning. Supervised learning includes predicting loan issuance, identifying dangerous data packets, predicting bankruptcy, and estimating aircraft repair time. Unsupervised learning includes creating shopping recommendations, identifying customer segments, sorting mail by zip code, and printing custom discount coupons.
Explanation:In the field of data mining, the tasks referred to in the scenarios given can either be supervised or unsupervised learning:
Supervised learning is when the model is provided with a training set, clear inputs and outputs from past data and it's meant to predict future outputs.https://brainly.com/question/33467641
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National GeographicMagazine brought a bit of nature to New York as part of a week-long event promoting the magazine's October 2006 cover story on parks. The magazine hosted an interactive photography exhibit, which celebrated international and national parks. Invitations to representatives of the news media were an attempt to use which element of the promotional mix?
A. advertising
B. personal selling
C. public relations
D. sales promotion
E. distribution
The correct answer is C. public relations.
Explanation:The correct answer is C. public relations. By inviting representatives of the news media to the event, National Geographic Magazine was using public relations as an element of the promotional mix. Public relations involves building and maintaining relationships with the public, including the media, to enhance the organization's image and reputation. In this case, National Geographic Magazine used the event to promote their magazine and generate positive publicity.
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The National Geographic Magazine used option C) public relations element of the promotional mix through their interaction with news media to promote their park's cover story.
Explanation:The National Geographic Magazine, in sending invitations to representatives of the news media for an event promoting their parks cover story, was utilizing the option C) public relations element of the promotional mix. Public relations refers to activities aimed at promoting goodwill and a positive image between an organisation and its public. In this case, by inviting news media, the magazine likely sought positive coverage of their event, which serves to influence public opinion and create a favourable image.
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Joe's starting salary as a mechanical engineer is around $100 comma 000. Joe is planning to place a total of 13% of his salary each year in the mutual fund. Joe expects a 5% salary increase each year for the next 25 years of employment. If the mutual fund will average 11% annual return over the course of his career, what can Joe expect at retirement?
Answer:
$ 2,209,797.96
Explanation:
Given:
Salary = $100,000
Salary investment rate = 13%
Salary increase rate(g) = 5%
number of year = 25
Annual rate of return(i) = 11%
Calculation:
Salary invested = $100,000*13% = $13,000
calculation of present worth
[tex]P=A[\frac{1-(1+g)^n(1+i)^{-n}}{i-g}] \\P=13000[\frac{1-(1+0.05)^{25}(1+0.11)^{-25}}{0.11-0.05}] \\P=13000[\frac{1-(1.05)^{25}(1.11)^{-25}}{0.06}] \\P=13000[\frac{1-(3.386354)(0.073608086)}{0.06}]\\\\P=13000[\frac{1-0.249263}{0.06}]\\\\ P=13000[12.5122827]\\\\\\P= 162,659.675[/tex]
[tex]Future worth = P(1+i)^n\\ = 162,659.675(1+0.11)^{25}\\ = 2,209,797.96[/tex]
Groupong Inc. recently paid a $2.78 annual dividend on its common stock. This dividend increases at 3.50 percent per year and the stock currently sells for $38.30 a share. What is the rate of return? A. 15 percent B. 17 percent C. 11 percent D. 13 percent
Answer:
c) 11%
Explanation:
The question is to determine the rate of return on Groupong Inc's
The rate of return represents an investment's net gain or net loss calculated over a period of time and usually expressed in terms of the percentage of the initial cost of investment.
The rate of return in this question is calculated as follows:
Rate of Return = (The Dividend for the next year/ the current price of the share) + The Growth rate
The dividend for the next year = current year dividend x (1+r), where r is 3.5
= 2.78 x (1+0.035)
=2.78 x 1.035
= (2.8773/38.3) + 0.035
=0.1101 or 11%
If employees are happy working in the traditional boss-hierarchical organization, why should a manager even consider changing to a team-based organization?
Answer and explanation:
Even if employees are happy in a boss-hierarchical organization implementing a team-based organization is helpful to improve employees' communication. Boss-hierarchical organizations tend to be bureaucratic and typically the voice of employees is not heard. Then, by adopting the team-based approach a greater number of workers can provide their points of view and help the business grow with their ideas.
A manager should consider moving from a hierarchical organization to a team-based organization as this generates greater autonomy and creativity in the processes.
What are the advantages of a horizontal organization?In a decentralized or horizontal organization, there is greater autonomy for employees, as there is less hierarchical rigidity and greater participation in decision-making, which increases communication and motivation at work.
Therefore, horizontal organizations contribute to increased satisfaction and productivity, in addition to ensuring greater flexibility and innovation.
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Interview Notes
• Sandra Clark is 45 years old.
• Sandra works as a clerk and earned $27,500 in 2019.
• Sandra's daughter, Debbie, is 26 years old and she is not disabled.
• Debbie lived with Sandra as a member of her household for all of 2019.
• Debbie works as a receptionist and earned $18,250 in 2019.
• Sandra purchased health insurance coverage for herself and Debbie on the same policy from the Marketplace for all of 2019.
• Sandra received Form 1095-A from the Marketplace showing that she and Debbie are both covered individuals for all of 2019.
Can Sandra claim Debbie as a qualifying relative on her 2019 return?
a. Yes, because Debbie lived with Sandra as a member of her household for all of 2019.
b. No, because Debbie had gross income of more than $4,200 during the tax year.
Explanation:
Important information to take into consideration to answer the question:
Sandra has taken health insurance during the year 2019
Sandra has covered both himself and Debbie
Considering the above information, Sandra can claim from insurance because Debbie lived with Sandra in 2019 ie. the year same as the year in which the policy has been taken. Debbie's gross salary is not a barrier for the given situation.
Option B stands false because gross income is considered as a barrier.
The commercialization of the electric car was supported by the need for a vehicle that polluted less and ____ Select one: a. cost less b. did not rely on foreign oil c. supported wiFi d. were larger
Answer:
did not rely on foreign oil
Explanation:
An electric car is considered as the latest advancement in the field of the automobile industry. The main focus behind introducing the electric car is pollution and dependency on foreign oil.
Both the above factors are important for any developing country. The pollution is main cause of polluting the environment globally hence it is a vital need to introduce something that produce less pollution. As we know when the oil burns it releases the carbon monoxide in the atmosphere which is the main cause behind raising the average temperature of earth atmosphere
On the other side, we have a dependency on foreign oil. We know that the government pays a huge amount of money in purchasing oil from foreign land thus by introducing an electric car we can save this amount of money and can be used for a different purpose
Answer:
The correct answer is letter "B": did not rely on foreign oil.
Explanation:
Nowadays, electric cars are in the process of expansion, attempting to reach new markets where infrastructure is still in progress for the massive offerings. Most major carmakers are developing the manufacturing of electric cars as the result of avoiding dealing with changing prices in the foreign oil industry and because oil is a non-renewable natural resource, which implies it will be scarce in the future even if those days are not near yet.
Wolverine World Wide, Inc., manufactures military, work, sport, and casual footwear and leather accessories under a variety of brand names, such as Hush Puppies, Wolverine, Merrell, Stride Rite, and Bates, to a global market. The following transactions occurred during a recent year. Dollars are in millions.a. Issued common stock to investors for $14,084 cash (example).b. Purchased $872,418 of additional inventory on account.c. Borrowed $11,700.d. Sold $1,346,068 of products to customers on account; cost of the products sold was $750,547.e. Paid cash dividends of $21,258.f. Purchased for cash $25,726 in additional property, plant, and equipment.g. Incurred $345,584 in selling expenses, paying three-fourths in cash and owing the rest on account.h. Earned $1,772 interest on investments, receiving 90 percent in cash.i. Incurred $2,990 in interest expense to be paid at the beginning of next year.Required:For each of the transactions, complete the tabulation, indicating the effect (positive value for increase, negative value for decrease, and leave blank if no effect) of each transaction.
Brock Company makes candy. During the most recent accounting period Brock paid $3,000 for raw materials, $4,000 for labor, and $2,000 for overhead costs that were incurred to make candy. Brock started and completed 10,000 units of candy of which 8,000 were sold. Based on this information the balance in the inventory account on Brock’s balance sheet would be
A. $1,800.
B. $2,000.
C. $9,000.
D. None of the above.
Answer:
A. $ 1.800
Explanation:
The total manufacturing costs for the period are:
Raw materials $ 3,000
Labor $ 4.000
Overhead costs $ 2,000
Total cost of goods manufactured $ 9,000
Units started and completed 10,000
Cost per unit $ 9,000 / 10,000 units $ 0.90 per unit
Units inventory at end of period 2,000
Inventory value at period end $ 0.90 * 2,000 = $ 1,800
Blake eats two bags of generic potato chips each day. Blake's hourly wage increases from $ 8 to $ 15 , and he decides to stop eating generic chips and instead eats a name-brand potato chip. Use the midpoint method to calculate Blake's income elasticity of demand for generic potato chips. Round your answer to two decimal places.\
Answer:
-3.28
Explanation:
The question is to calculate Blake's income elasticity of demand for generic potato chips
The formula for this is as follows
[tex]\frac{Q2-Q1}{Q2+Q1/2}[/tex] ÷ [tex]\frac{M2-M1}{M2+M1}/2[/tex]
For this equation; Q2 will be the final demand while Q1 represents the initial demand. Also , M2 represents the final outcome and M1 is the initial income
First, since Blake decides to stop generic chips completely, it means his demand for generic chips has reduced. The demand function therefore becomes:
Q2-Q1= 0-2=-2
Also, since his income has increased for $8 to $15 which is $7 (M2-M1) increase, the following can be said
His average demand of chips = Q2-Q1/2= 0+2/2=1
His average income, M2-M1/2 8+15/2= $11.5
The Income elasticity of demand for Blake
= -2/1 ÷ 7/11.5
= -3.28
A yacht offered for sale is currently assessed at $350K but asked for $450K. The purchaser of the yacht believes that the yacht is worth $375K, but ultimately purchases the yacht for $400K.
The purchaser records the yacht at:
a. $45K
b. $450K
c. $400K
d. $350K
e. $375K
Answer:
c. $400K
Explanation:
Given that
Offered price for sale = $350K
Asked price = $450K
Worth of the yacht determined by the purchaser = $375K
The Purchase value of yacht = $400K
By considering the historical cost principle, the yacht should be recorded at the purchase price or acquired price or original price i.e $400K in the purchase records so that the reliability of the books could be maintained
Landon Corporation was organized on January 2, 2014, with the investment of $120,000 by each of its two stockholders. Net income for its first year of business was $96,560. Net income increased during 2015 to $140,980 and to $164,950 during 2016. Landon paid $23,000 in dividends to each of the two stockholders in each of the three years.
Required:
Prepare a statement of retained earnings for the year ended December 31,2016
Answer:
Landon Corporation
Statement of retained earnings
for the year ended December 31,2016
$
Retained Earning on January 1,2016 = 145,540
Add : Net Income / Less Net loss = 164,950
Less: Dividend = 46,000
Retained earning at December 31,2016 = 264,490
Working:
Retained Earning on January 1,2014 = $0
Add : Net Income / Less Net loss = $96,560
Less Dividend = $46,000
Retained earning at December 31,2014 = $50,560
Retained Earning on January 1,2015 = $50,560
Add : Net Income / Less Net loss = $140,980
Less Dividend = $46,000
Retained earning at December 31,2015 = $145,540
To prepare the statement of retained earnings for Landon Corporation for the year ended December 31, 2016, start with the beginning balance of retained earnings, add the net income for the year, and subtract the dividends paid out.
The statement of retained earnings shows the changes in the retained earnings account over a specified period of time. To prepare the statement of retained earnings for Landon Corporation for the year ended December 31, 2016, we need to start with the beginning balance of retained earnings.
In this case, the beginning balance would be $120,000 + $96,560 - $23,000 - $23,000 - $23,000. Then, we add the net income for 2016, which is $164,950. Finally, we subtract the dividends paid out in 2016, which is $23,000 + $23,000.
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In 2011, Modern Electronics, Inc. produced 60,000 calculators, employing 80 workers, each of whom worked 8 hours per day. In 2012, the same firm produced 76,500 calculators, employing 85 workers, each of whom worked 10 hours per day. Productivity at Modern Electronics
a. decresed by 4%
b.remained constant
c.increased by 8.33%
d.increase by 27.50%
Answer:
a. decreased by 4%
Explanation:
PRODUCTIVITY OF INDUSTRY IN 2011
= TOTAL OUTPUT PRODUCED/ TOTAL WORKING HOURS
PRODUCTIVITY OF INDUSTRY IN 2011 = 60,000/640
= 93.75%
PRODUCTIVITY OF INDUSTRY IN 2012
= TOTAL OUTPUT PRODUCED/ TOTAL WORKING HOURS
= 76,500/850
= 90%
Therefore, Productivity at Modern Electronics decreased by 4%
JORDAN: OK, I understand that, and I know the amount of principal invested today can be called the value of the investment, whereas the amount realized after the passage of t period of time is called its value. But what causes the present and future values to be different values?
Answer and explanation:
Present Value tells us how much a future sum of money is worth today given a specified rate of return. This is an important financial concept based on the principle that money received in the future is not worth as much as the equal sum received today.
For instance, if you invest $1,000 today, in three years it would be worth more than the original sum assuming a specified rate of return. Waiting three years to invest the money is three years of lost interest, making the future money worth less than today's $1,000.
The present and future values of money differ due to the time value of money, which is influenced by the potential to earn interest and inflation over time. Calculations involve discounting future sums to present value terms, accounting for interest and risk premium.
Explanation:The present and future values of money differ due to the time value of money, which is the principle that money available today is worth more than the same amount in the future because of its potential earning capacity. This intrinsic value can be earned through interest if the money is invested, yielding a higher future value. Conversely, money expected in the future needs to be discounted to reflect its lower present value.
The calculation of present value involves dividing the future amount of money by the factor (1 + r)^n, where 'r' is the interest rate and 'n' is the number of periods until the payment or investment matures. Factors like inflation and risk premium also influence the present and future values, reflecting the changing buying power of money over time and compensating for inherent risks.
For example, a sum of $500 received a year from now would be worth less today because it could otherwise be invested at a given interest rate, like 10%, to yield $550 after one year. This demonstrates why $500 next year is valued less at present: $500/(1+0.1) = $454.54.
A comparable property price is adjusted to $315,500 from the original selling price of $345,000. What percentage is the adjusted price compared to the original selling price?
Answer:
91.45%
Explanation:
The percentage of the adjusted price compared to the original selling price is determined by dividing the adjusted price by the original price. Since the original price was $345,000 and the adjusted price is $315,500:
[tex]P=\frac{315,500}{345,000}=0.9145 =91.45\%[/tex]
The adjusted price is 91.45% of the original selling price
True/False:
A. The United States is only a destination for illegal drugs.
B. The global drug trade lives up to its name in that nearly all regions of the world are involved, either as a source or destination of illegal drugs.
C. China appears to be a hotbed of illegal drug activity.
D. Generally, countries with the lowest gross national income per capita are more likely to be sources for illegal drugs than to be destinations for those drugs.
E. Generally, countries with the highest gross national income per capita are more likely to be destinations for illegal drugs than to be sources of those drugs.
Answer:
A-True
B-True
C-True
D-True
E-True
Explanation:
To begin with, according to a report done on 2018 by the United Nations Office on Drugs and Crime The United States is increasing highly its number of drugs consumption regarding the fact that the american territory is growning as an illegal drugs' destination. Moreover, just like other countries that have high gross national income per capita the more citizens they have the more they consume regarding the fact that both rich and poor tend to drug addiction and therefore that those countries tend to be destinations for drugs. In addition, countries with the lowest gross national income per capita tend to be the ones that produce the drugs according to a report done by the government of The United States called ''the black list'' of country producers and where of 22 countries in the list, 17 of them are latinamerican countries that have low gross national income per capita.
To continue, the drug traffic around the world involves nearly all regions of the globe regarding the fact that they may either a source or a destination for the drugs. Furthermore, taking China for example, a great hotbed of illegal drug activity that has been increasing over the years.
Santa Fe Company was started on January 1, Year 1, when it acquired $9,800 cash by issuing common stock. During Year 1, the company earned cash revenues of $6,200, paid cash expenses of $3,650, and paid a cash dividend of $1,200. Based on this information, which is true?
a) The 2016 statement of cash flows would show net cash inflow from operating activities of $2,450.
b) The 2016 income statement would show net income of $1,300.
c) The 2016 statement of cash flows would show a net cash flow from financing activities of $9,700.
d) The December 31, 2016 balance sheet would show total equity of $15,750.
Answer:
The 2016 statement of cash flows would show net cash flow from financing activities if $8,600.
Explanation:
The operating activities cash flows is determined by Revenue - Cash expenses.
Operating activities = $6200 - $3650 = 2550.
The dividend paid by the company is considered as Financing activity. The financing activity will include common stock minus dividend paid. Net cash flows from Financing activity = $9800 - $1200 = $8600.
Identify whether each of the following transactions will take place in an input market or in an output market, and whether firms or households are demanding the good or service or supplying the good service a. Anderson works 37 hours each week as a clerk at the county courthouse. b. Mei Lin purchases a 3-week Mediterranean cruise vacation for her parents. c. Caterpillar doubles employment at its Huntsville, Alabama factory. d. The Greyson family sells their 250-acre ranch to Marriott so it can build a new resort and golf course.
Answer:
The correct answers are explained below.
Explanation:
In the case of A, the household is providing the service and the transactions is taking place in an input market due to the fact that the service given by the particular person is used inside the court to provide a complete service to the community.
In the case of B, the firm is providing the service that is being demanded by the household and the transactions is taking place in an output market due to the fact that the complete service is already being purchased and demanded.
In the case of C, the household is providing the service and the firm is demanding the service of labor force and the transaction is taking place in an input market due to the fact that the firm needs the labor force to produce a new product to deliver to the output market as a finished product.
In the case of D, the household is providing the good and the firm is demanding the good and the transactions is taking place in an input market due to the fact that the firm is buying the good in order to establish a new building that will provide a finishied service to the customers in the future.
In the provided scenarios, when individuals are providing their labor or properties for firms to produce goods or services, like Anderson's job or the Greyson's property sale, these transactions are taking place in the input market. When an individual is acquiring a good or service from a firm, like Mei Lin's cruise purchase, this transaction is occurring in the output market.
Explanation:a. Anderson works 37 hours each week as a clerk at the county courthouse. This transaction takes place in the input market, where labor (Anderson's work hours) is being supplied by a household member (Anderson) to a firm (the county courthouse).
b. Mei Lin purchases a 3-week Mediterranean cruise vacation for her parents. This transaction occurs in the output market, where goods and services (the cruise) are being demanded by households (Mei Lin).
c. Caterpillar doubles employment at its Huntsville, Alabama factory. This is an example of an interaction in the input market, as the firm (Caterpillar) is demanding labor for its factory.
d. The Greyson family sells their 250-acre ranch to Marriott so it can build a new resort and golf course. This transaction occurs in the input market as a real estate (input) is being supplied by households (The Greyson family) to a firm (Marriott).
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In January 2017, Expo Mining Company paid $4,400,000 to buy a new mine. Expo estimates it will be able to remove 4,000,000 tons of ore from the mine. It also estimates that the property will be worth $300,000 after the ore has been extracted. Expo incurred a total of $900,000 in development costs when preparing the mine for production. In the mine’s first year of operation (2017), Expo removed 500,000 tons of ore and was able to sell 475,000 tons. Given this information, Expo should record total 2017 depletion cost of A : $593,750 B : $662,500 C : $625,000 D : $629,375
Answer:
correct option is C : $625,000
Explanation:
given data
paid = $4,400,000
total explore = 4,000,000 tons
salvage = $300,000
incurred a total = $900,000
explore = 500,000 tons
sell = 475,000 tons
solution
we get here cost incurred for asset use is capitalized is
so depletion expose is
depletion expose = [tex]\frac{cost-salvage}{total\ tons\ explored}[/tex] × explored .................1
put here value we get
depletion expose = [tex]\frac{4400000+900000-300000}{4000000}[/tex] × 500000
depletion expose = $625000
so correct option is C : $625,000
Expo should record a total 2017 depletion cost of $593,750.
Explanation:To calculate the depletion cost, we first need to determine the depletion rate per ton of ore. The depletion rate is the cost of the mine divided by the estimated tons of ore. In this case, the depletion rate is $4,400,000 / 4,000,000 tons = $1.10 per ton.
Next, we calculate the depletion cost for the ore that was removed and sold in 2017. Since 475,000 tons were sold at a depletion rate of $1.10 per ton, the depletion cost for the sold ore is 475,000 tons x $1.10/ton = $522,500.
Therefore, the total 2017 depletion cost is $522,500. Therefore, the correct answer is A: $593,750.
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For all of the following questions, refer to the following table, which gives financial information for Apple for fiscal year 2002 (in millions): Sales $5,742 Cash (includes marketable securities) $4,337 Cost of Sales 4,139 Accounts Receivable 565 Gross Profit 1,604 Current Assets 5,388 Net Income 65 Total Assets 6,298 Operating Cash Flow 89 Current Liabilities 1,658 Total Liabilities 2,203 Sales (fiscal year 2001) 5,363 Total Equity 4,095 Net Income (fiscal year 2001) -25 Total Assets (fiscal year 2001) 6,021 Accounts Receivalbe (fiscal year 2001) 466 In Apple's 2002 common-size income statement, gross profit is equal to: a. 27.9% b. 100.0% c. 24.7x d. 4.1%
Answer:
a. 27.9%
Explanation:
The formula and the computation of the gross profit are shown below:
Gross profit = (Gross profit) ÷ (Sales) × 100
where,
Gross profit = $1,604
And, the sales revenue is $5,742
So, the gross profit is
= ($1,604) ÷ ($5,742) × 100
= 27.9%
By dividing the gross profit by the sales we can get the gross profit
A company uses the retail method to estimate inventories. The following information is for the first six months of the current year: beginning inventory at cost and retail were $70,000 and $100,000 respectively, net purchases at cost and retail were $270,000 and $360,000, respectively, and sales during the first six months totaled $320,000. What is the estimated cost of goods sold at the end of the six-month period using the LIFO retail method?
Answer:
The correct answer is $240,000.
Explanation:
According to the scenario, given data are as follows:
Beginning inventory at cost = $70,000
Beginning inventory at retail = $100,000
Net purchases at cost = $270,000
Net purchases at retail = $360,000
Total sales = $320,000
According to the LIFO method.
Particulars Cost Retail Cost/Retail Ratio
Beginning inventory $70,000 $100,000 70%
Net purchases $270,000 $360,000 75%
Total Inventory $340,000 $460,000
Total sales $320,000
Ending inventory ( Estimated )
($360,000-$320,000)× 75% $30,000
$70,000 × 70% $70,000
Ending inventory at cost $100,000
Estimated cost of goods sold $240,000.
Hence the correct answer is $240,000.
Which of the following sequences represents the normal flow of accounting data from the journal to the ledger? Question 6 options: a) Transactions occur, Source documents are prepared, Transaction analysis, Transaction is journalized and posted b) Source documents are prepared, Transaction analysis, Transaction is journalized and posted, Transactions occur c) Transaction analysis, Transaction is journalized and posted, Transactions occur, Source documents are prepared d) Transactions occur, Transaction analysis, Transaction is journalized and posted, Source documents are prepared
Answer:
a) Transactions occur, Source documents are prepared, Transaction analysis, Transaction is journalized and posted
Explanation:
We should consider that the client comes first in a business model.
Thus, we need somethign torecord first. so the first event is the transactions.
Then the customer will require a doccument to back it up. We cannot delay their request and tell them to wait until we analyze the transaction or do the journal entry. We give the receipt to the customer.
Now, the last two are more easy in order to know how to journalize we must analysis the transactions.
This tought makes option A the correct one.
The normal flow of accounting data from the journal to the ledger sequence is: transactions occur, source documents are prepared, transaction analysis, then the transaction is journalized and posted.
Explanation:The correct sequence for the normal flow of accounting data from the journal to the ledger is option a) Transactions occur, Source documents are prepared, Transaction analysis, Transaction is journalized and posted. This sequence starts with the transaction event. Next, source documents are generated such as receipts and invoices.
The third step is Transaction analysis, which involves deciphering the impact of the transaction on the company's accounts. In the final step, the Transaction is journalized, or recorded in the company's journal, and then posted to various ledgers accordingly.
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Partnership records show the following capital balances at the date of Hopkin's withdrawal: M. Hammel, $80,000; D. Hopkins, $210,000; and P. Houghton, $100,000. The three partners share income and loss equally. On December 31, after the death of Hopkins, the two remaining partners, Hammel and Houghton, and the estate of Hopkins agree that a payment of $200,000 will be made to settle the capital balance of Hopkins. Prepare the December 31 journal entry for the partnership.
Answer:
The Journal entry is as follows:
D. Hopkins, Capital A/c Dr. $210,000
To cash A/c $200,000
To M. Hammer's Capital A/c $5,000
To P. Houghton's capital A/c $5,000
(To record the amount of Hopkins Capital balance)
Workings:
Income = D. Hopkins, Capital - Cash payment after his death
= $210,000 - $200,000
= $10,000
$10,000 is divided equally among M. Hammer and P. Houghton.
The journal entry for Hopkins' withdrawal from the partnership would involve a debit of $210,000 to Hopkins' capital, credits of $200,000 to cash, and $5,000 each to Hammel's and Houghton's capital accounts to balance the difference.
Explanation:When a partner withdraws from a partnership, it is necessary to settle their capital account. In this case, D. Hopkins withdraws with a capital balance of $210,000. The partnership and Hopkins' estate have agreed on a withdrawal payment of $200,000. These transactions would result in the following journal entry:
Hopkins' Capital (Debit) $210,000Cash (Credit) $200,000Hammel's Capital (Credit) $5,000Houghton's Capital (Credit) $5,000The division of the remaining $10,000 ($210,000 - $200,000) between Hammel and Houghton is equitable because they share profits and losses equally. This means with Hopkins' exit, the $10,000 difference is divided between the two, resulting in a $5,000 credit each to Hammel's and Houghton's capital accounts.
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Suppose the own price elasticity of demand for good X is -3, its income elasticity is -3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is 2. Determine how much the consumption of this good will change in percentage if:
a. The price of good X decreases by 7 percent.
b. The price of good Y increases by 9 percent.
c. Advertising decreases by 2 percent.
d. Income increases by 5 percent.
Answer:i dont know
Explanation:
Order winners and qualifiers: A. only apply to quasi-manufacturing firms B. remain constant over time C. are consistent between manufacturing and service organizations D. only matter when responding to formal competitive bid requests E. change over time
Answer:
The correct answer is letter "E": change over time.
Explanation:
Qualifiers are those minimal characteristics a good or service must have so customers could consider purchasing them. Once the customer is interested in a product and decides to choose to purchase it over its competitors, the good becomes an order winner.
Both qualifiers and order winners tend to change over time with changes in the market which leads to changes in consumer preferences and behavior.
All of the following are characteristics of an effective design process except
a. increasing the design time for new products and services.
b. meeting customer requirements in the least costly manner.
c. matching product or service characteristics with customer requirements.
d. minimizing the number of revisions needed to make the design workable.
Answer:
The correct answer is letter "A": increasing the design time for new products and services.
Explanation:
Many steps can be taken to effectively design a product before its release. Those steps could imply studying the client in brief, make market research, brainstorming potential product ideas, sketching the most feasible, developing a concept, revision, and completion.
Increasing more time designing new products or services is counterproductive to finish the design product on time.
Characteristics of an effective design process include meeting customer demands cost-effectively, aligning product features with those demands, and minimizing necessary revisions, but not intentionally increasing the design time.
All of the following are characteristics of an effective design process except increasing the design time for new products and services. The elements that contribute to a successful design process include meeting customer requirements in a cost-effective manner, ensuring the product or service traits match customer expectations, and minimizing the revisions required to make a design practical and functional.
Efficient design processes are crucial for crafting products that satisfy the end-user's needs while also being economically viable for the company. These processes entail iterative testing, prototyping, and refinement steps that often lead to multiple versions before reaching the final product. However, an effective design process should not purposefully extend the design timeframe; instead, it should seek to be as timely and resource-efficient as possible, keeping in mind the constraints of budget and project deadlines. Notably, the engineering design process should be flexible and adaptable, subject to continuous improvement to meet the changing dynamics of both the market and project-specific objectives.
Hence, The characteristics of an effective design process except is Increasing the design time for new products and services are
Evaluate Microsoft’s product and marketing evolution over the years. What has the company done well, and where did it falter?
Explanation:
Microsoft is a giant technology company with worldwide influence.
Its success and reputation have ensured the company the position of the most valuable company in the world by market capital.
The popularization of the Windows Operating System, worldwide, was the product that consolidated the company as a giant in the business world. Technological companies, should focus on innovation, as each day more advances in technology appear to correct possible system errors, make the user's performance and use better and make production costs cheaper. With regard to the Operating System for computers, Microsoft has always evolved in launching new, more evolved versions, and making the previous ones obsolete for use, but one of the company's failures was to have lost the timing to develop an OS aimed at the use in cell phones, since that the company tried to enter this market, but was unsuccessful, and was defeated by its biggest competitors: Google and Apple.
Final answer:
Microsoft has excelled in the operating system market and has adapted to the changing technology landscape, maintaining a strong market presence. The company faced challenges with antitrust issues but managed to overcome them through settlements and changing strategies. Their evolution shows resilience and adaptability, though they have had moments of legal and competitive difficulties.
Explanation:
Microsoft's Product and Marketing Evolution
Upon evaluating Microsoft's product and marketing evolution over the years, it is evident that the company has excelled in innovating and capturing the operating system market. In the early 2000s, Microsoft held a dominant share of the software for computer operating systems, which was integral to its success. Despite this dominance, when considering all computer software and services, Microsoft's market share was around 14% in 2014, illustrating a competitive marketplace with varied definitions of market scope.
In 2000, Microsoft faced legal challenges regarding unfair competition and a federal court proposed the company to be split. This decision was overturned on appeal, and by November 2002, a settlement was reached ending Microsoft's restrictive practices. Microsoft's ability to navigate these legal challenges while maintaining its market position showcases both resilience and adaptability in its business strategy.
Microsoft has demonstrated strength in areas like product integration, marketing, and global brand recognition. They occasionally faltered, such as when dealing with antitrust issues, which questioned their market power and competition practices. Over time, Microsoft has managed to adapt to the changing technology landscape, shifting focus from just software to offering cloud services and other technological advancements, remaining a key player in the industry.