The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 300,000 $ 30 B 400,000 35 C 500,000 10 D 700,000 15 The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $30,000. There are 4 million shares outstanding. What is the net asset value of the fund

Answer:

a) Look in the files

Explanation:

You have to look in the files, ascertain the current situation of the organization, gather information on the organization's previous and current performances and deduce how best to answer likely questions that would pop up in the upcoming interview on the morning News show. This informal research technique would enable your boss to be adequately prepared for the interview.

To maximize revenue, make 15,000 ounces of Easy Out candies and 30,000 ounces of Slugger candies, for a total revenue of $21,000.

To maximize revenue, you need to find the combination of Slugger and Easy Out candies that uses all the available ingredients and yields the highest total revenue. Let's calculate the maximum revenue step by step:

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Answer:

B. $ 6,500,000

Explanation:

The goodwill impairment loss for the year 2020 shall be determined through the following mentioned equation:

Goodwill impairment loss=Book value of all the divisions-Fair Value of all the divisions

Book value of all the divisions=$45,000,000+$6,500,000+$21,000,000

                                                   =$72,500,000

Fair value of all the divisions= $40,000,000+$6,000,000+$20,000,000

                                                 =$66,000,000

Goodwill impairment loss=$72,500,000-$66,000,000

                                           =$6,500,000

So based on the above discussion, the answer is B. $ 6,500,000

Answer: $8.50

Explanation:

                             Price          Outstanding     Value

Total  Shares    15      150,000.00   $2,250,000.00  

Right Price         2       150,000.00   $300,000.00  

Total  Shares and Value    300,000.00   $2,550,000.00  

Ex rights Price = $2,550,000/300,000 = $8.5  

Final answer:

The ex-rights price per share is calculated by adding the funds raised from the rights offering to the market value of the company before the offering and then dividing by the new total number of shares. In this case, the ex-rights price per share is approximately $14.17.

Explanation:

The student's question involves calculating the ex-rights price per share after a rights offering by Western Markets. The company currently has 150,000 shares outstanding priced at $15 per share, and the rights offering allows for the purchase of new shares at a discounted price, with 5 rights and an additional $10 payment required for each new share.

To calculate the ex-rights price, we must first determine the number of new shares that will be issued. Since 5 rights are needed for one new share, and there are 150,000 shares outstanding, this results in 30,000 new shares (150,000/5). The total funds raised from the rights offering will be $300,000 (30,000 shares x $10).

The total value of the company after the rights offering will be the sum of the market value before the offering ($2,250,000 which is 150,000 shares x $15) and the funds raised from the offering ($300,000), resulting in $2,550,000. We then divide this total by the new number of shares outstanding (180,000 shares, which is the original 150,000 plus the 30,000 new shares) to get the ex-rights price per share.

Ex-rights price per share = Total value / New total number of shares = $2,550,000 / 180,000 = $14.17 approximately.

Answer:

(A) It is a Positive externality if the effect on third parties is beneficial.

(B) With positive externality, the social interest exceeds private interest, hence the demand curve shifts as seen attached.

(C) In the absence of interference, the quantity of market equilibrium would be less than the quantity which is socially optimal.

(D) Examples follow:

A. It is a Positive externality and third parties are beneficial

B. The demand curve shifts as seen attached.

(A) It is a Positive externality if the consequence on third parties is beneficial.

(B) With positive externality, When the social interest exceeds private interest, therefore, the demand curve shifts as seen attached.

(C) In the scarcity of interference, the quantity of market equilibrium would be less than the socially optimal quantity.

(D) Examples observe:

Leading software corporation decides to raise the budget for open-source development research. Then Nick planted numerous trees.

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Answer:

Yes

Explanation:

Note that, the term “refusal to deal” with dealers is a situation in which one firm  refuses to sell to dealers ans is only willing to sell at a price that is considered “too high”. Also note that restriction of refusal is subject to the jurisdiction of the firm.

However, in a case a Non-monopolistic firms they are free to make these decisions without risk of violating  competition laws.  The most common welfare effects involves a negative impact on competition, that affects the end-users due rise in prices.

Answer:

Unitary product cost= $26

Explanation:

Giving the following information:

Direct materials $ 10

Direct labor $ 4

Variable manufacturing overhead $ 1

Fixed costs per year:

Fixed manufacturing overhead $ 231,000

During the year, the company produced 21,000 units

Under the absorption costing method, the unit product coast is calculated using direct material, direct labor, and total unitary overhead.

First, we need to calculate the unitary fixed overhead:

Unitary fixed overhead= 231,000/21,000= $11

Now, we can calculate the unit product cost:

Unitary product cost= 10 + 4 + 1 + 11= $26

The unit product cost for the Lynch Company under absorption costing is $26. This is calculated by adding the variable costs per unit ($15) to the allocated fixed manufacturing overhead cost per unit ($11), which is derived from dividing the total fixed costs by the number of units produced.

To compute the unit product cost under absorption costing, we need to consider both variable and fixed manufacturing costs. In Lynch Company's case, the variable costs per unit are as follows: direct materials $10, direct labor $4, and variable manufacturing overhead $1. The total variable manufacturing cost per unit then adds up to $15. Furthermore, the fixed manufacturing overhead costs are $231,000 per year.

Since we are using absorption costing, we allocate these fixed costs to the units produced, not the units sold. With 21,000 units produced, we divide the total fixed manufacturing overhead by the number of units. This calculation is $231,000 / 21,000 units, resulting in $11 per unit for fixed manufacturing overhead.

The sum of variable and fixed manufacturing costs per unit gives us the total unit product cost. So, $15 (variable) + $11 (fixed) equals $26 per unit. This $26 is the unit product cost under absorption costing for Lynch Company.

Answer:Greater

Explanation: Absorption costing is a cost accounting procedure which is used in the costing of both the direct and indirect expenses involved in the production of a specific product or service over a given period of time.

Fixed overhead costs are specifically concerned with goods sold while variable costs are specifically concerned with all the goods manufactured.

THE COST THAT WILL BE ASSOCIATED WITH FIXED OVERHEAD COST WILL BE LESS WHEN COMPARED TO THAT CALCULATED USING VARIABLE COSTING AND THIS WILL CAUSE THE NET INCOME CALCULATED USING THE FIXED OVERHEAD COST TO BE GREATER THAN THE VARIABLE COSTING APPROACH.

Under absorption costing, net income will be greater than under variable costing when production exceeds units sold because some fixed costs are allocated to inventory rather than being immediately expensed.

Under absorption costing, fixed overhead is allocated to products sold. Consequently, when production exceeds units sold, the net income will be greater than income calculated under variable costing. This occurs because with absorption costing, some of the fixed costs are allocated to the inventory and are not immediately expensed in the period they are incurred but instead are recognized as the inventory is sold. This can defer some expenses and thus increase the reported net income in periods where production is greater than sales. With variable costing, however, all fixed overhead costs are expensed in the period they are incurred, which means that net income will closely align with the number of units sold and not necessarily the number of units produced.

Variable costing provides insights into the firm's ability to cut costs in the present and showcases how costs will change with production levels. Unlike fixed costs which are sunk and constant, variable costs increase proportionally with production output, influencing decisions about optimal production and cost management strategies in the immediate term.

Answer:

B) Millcorp has a lawful innocent acquisition of a monopoly.

Answer:

B) Millcorp has a lawful innocent acquisition of a monopoly.

Explanation:

Millcorp has a lawful innocent acquisition of Monopoly because Millcorp isn't aware that the newly acquired material for wet suit protect against shark bite. The motive if acquiring the material was to better hold in the wearer's body heat.

The innocent acquisition of the material and the new discovery has increased the demand for Millcorp product which will increase its profits

Monopoly:This a market structure in which a seller sells a unique product.

The product sold by the seller cannot be easily substituted.

The Monopoly is characterised by

1) Single seller and many buyers

2) Absence of competition

3) No close substitute

The question involves calculating the expected value, variance, and standard deviation for different scenarios for an insurance company. It covers the situation of having one policy, two policies, and having a partner. The calculations involve probability and statistics to determine the possible outcome for the insurance company.

To answer these questions, it's important to understand the concepts of expected value, variance, and standard deviation, which all are foundational concepts in probability and statistics. The expected value (or mean) of a random variable is a measure of the center of the distribution of the variable. Variance tells you the degree of spread in your data set. The standard deviation is a measure of how spread out numbers in the data set are.

Let's first solve part a and b. We can start this by creating a table of possible outcomes and their probabilities. We find that the profit would be either $270 (premium is collected, no fire) or -$259,730 (fire occurs, payout happens)

With the probability of a fire being 0.1%, we can then calculate the expected value, variance, and standard deviation of the profit. The expected value is a weighted average of the possible outcomes, with the weights being the probabilities of the outcomes. The variance is a measure of the dispersion of the profit amounts around their expected value, and the standard deviation is the square root of the variance.

For part c and d

If the company issues two policies, the possible outcomes would be Both fires ($270*2 - $260,000*2), One fire ($270*2 - $260,000), No fire ($270*2). We just again calculate the probabilities and find out the expected value, variance and standard deviation.

Finally, with risk pooling and partnership you have different outcomes depending on whether 0, 1, or 2 fires occur and if the profits are shared between partners. The calculations are similar to the ones before.

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a. Insurance make a table of the two possible payouts on each policy with the probability of each. b. Calculate the expected value, variance, and standard deviation of your profit. c. Make a table of the three possible payouts along with their associated probabilities.

a. Table of Payouts and Probabilities

PayoutProbability$099.9%$260,0000.1%

b. Expected Value, Variance, and Standard Deviation

To calculate the expected value, we multiply each payout by its corresponding probability and sum the results. In this case, the expected value is $260,000 x 0.001 + $0 x 0.999 = $260.

The variance is calculated by subtracting the expected value from each payout, squaring the result, multiplying it by its corresponding probability, and summing the results. The variance for this scenario is ($0 - $260)^2 x 0.999 + ($260,000 - $260)^2 x 0.001 = $67,400.

The standard deviation is the square root of the variance, which in this case is approximately $259.90.

c. Table of Payouts and Probabilities (Two Policies)

PayoutProbability$099.9% x 99.9% = 99.8001%$260,0000.1% x 99.9% + 99.9% x 0.1% = 0.1998%$520,0000.1% x 0.1% = 0.0001%

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Answer:

The second bank provides with the higher future value.

Explanation:

Giving the following information:

First City Bank:

pays 6 percent simple interest

Second City Bank:

pays 6 percent interest compounded annually.

You deposited $9,000 in each bank.

The simple interest means that the interest gain each year doesn't accumulate. Compounded interest accumulates the interest to the principal, generation more interest each year.

First City Bank:

To calculate the ending value, we need to use the following formula:

FV= Principal + (principal*interest rate*n)

FV= 9,000 + (9,000*0.06*12)= $15,480

Second City Bank:

FV= Principal*(1+i)^n

FV= 9,000*(1.06^12)= $18,109.77

The second bank provides with the higher future value.

Explanation:

Because trademarks have an unlimited effective life of 4 million dollars, the regulation is not valid.

Goodwill and immaterial properties are not amortized but are checked for damage annually for infinite useful lives.

The copyright worth $6 million for five years is the only inviolable thing you can amortize.

The gross amortization cost in relation to these things in the income statement of Burger Mania for the first year ending December 31 would amount to $800,000.

Answer:

(a) Traditional commodities may experience higher price fluctuations.

(b) Developing countries tend to have comparative advantage in traditional commodities.

(c) The terms of trade for traditional commodities may tend to reduce over time in accordance to the Prebisch-Singer.

Explanation:

(a) Traditional commodities tend to experience fluctuations in price which will invariably lead to fluctuations in export earnings. Many developing countries concentrate on the exportation of primary products which are usually affected by shifts in supply and demand and are more price inelastic. The uncertainty caused from commodity price fluctuations can hamper economic growth and may increase poverty.

(b) Comparative advantage is the advantage a country gets by producing a good or service at a lower opportunity cost than other countries. Even though the nation may not be the best at producing that particular thing, the good or service has a low opportunity cost. Many developing countries have a comparative advantage in the production of traditional commodities because of natural endowments and low labour costs.

(c) Terms of trade is the ratio of a country's average export price to the country's average import price. For developing countries, the terms of trade for traditional commodities tends to fall with time. The Prebisch–Singer thesis proposed that the price of primary or traditional commodities reduces relative to the price of manufactured products over the long term, thereby causing deterioration in the developing economies terms of trade.

Answer:

$2,625,000 is reported as variable cost.

Explanation:

As we know pretax income is calculated by deducting variable and fixed cost from thr revenue / slaes.

Pretax Income = Contribution Margin - Fixed cost

Contribution Margin = Pretax Income + Fixed cost

Contribution Margin = $875,000 + $625,000

Contribution Margin = $1,500,000

Contribution Margin = Revenue -  variable cost

$1,500,000 = ( 250,000 x 16.50 ) -  variable cost

$1,500,000 = $4,125,000 -  Variable cost

Variable cost = $4,125,000 - $1,500,000

Variable cost = $2,625,000

Complete question:

You have $5,600 that you want to use to open a savings account. There are five banks located in your area. The rates paid by banks A through E, respectively, are given below. Which bank should you select if your goal is to maximize your interest income?

A. 3.26 percent, compounded annually

B. 3.20 percent, compounded monthly

C. 3.25 percent, compounded semi-annually

D. 3.10 percent, compounded continuously (ignore this selection)

E. 3.15 percent, compounded quarterly

Answer:

3.25 percent, compounded semi-annually bank should select if the goal is to maximize your interest income

Explanation:

If value is accumulated annually, then n= 1; if semi-annually, then n= 2; quarterly, then n= 4; monthly, then n= 12; weekly, then n= 52; hourly, then n= 365; and so on, irrespective of the number of years concerned.

The widely used compounding method for bank savings accounts is quarterly, weekly or semi-annual; it is also hourly for money market accounts.

The time span for each account of the interest is one day and for half-year accounts it is six months. Regular blogs earn 1/365 a year, while half-year posts take place two times a year.

Answer: This would WORSEN the union and BENEFITS Specific Automakers because the real wage increase would now be 2%

Explanation:

Specific Automakers is considering signing a long-term contract with the union representing its workers.

Real wages should increase by 3%

Expected inflation is 6%

Nominal wage increase is 9%

Actual inflation = 7%

Since actual inflation is greater than expected inflation, this would WORSEN the union and it is only of benefits to the automakers because this now makes real wage increase to be as calculated below leading to a redistributive cost of inflation.

= Nominal wage - Actual inflation rate

= 9% - 7%

= 2%

Answer: The question did not include the options. The answer is Union Representatives

Explanation: The Question with the options should be:

The pilots of various U.S. airlines are threatening to strike unless they receive wage increases. The pilots belong to a union. Which of the following would most likely negotiate an agreement with airline management?

A) union representatives

B) employee supervisors

C) government agencies

D) individual employees

The right answer is A ---- Union representatives

This is because Since the pilots belong to a union then Negotiation with management would be with the Union Representatives rather than individual pilots where the Union would present the concerns of the pilots to the management so as to resolve issues.

Answer:

Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.

Explanation:

Despite the accomplishments of Zappos, there are few challenges facing the company. One of the challenges is the economic and financial recession facing the world. This will lead to downsizing the company's employees and it will affect the competitive position of the company. The second challenge facing the company is that of acquisition. It is essential for the company to psychologically prepare the employees during the recession by organizing meetings and seminars to discuss the challenges and proffer solutions.

Answer:

The correct answer is letter "A": New York, London, and Tokyo.

Explanation:

New York City is still considered the world center for foreign exchange (forex) trading only followed by London and Tokyo. The main currencies being traded are the U.S. dollar (USD), Euro (EUR) and the Japanese yen (JPY). Some analysts believe soon the Chinese renminbi (CNY) will take an important place among the previously mentioned three currencies.

Answer:

a. The risk premium on Risky Investment bond = 5.8

b. Such a change would decrease/reduce 4.2%

c. The expected default rate on the Risky Investment bond has decreased (1).

Explanation:

a. The risk premium on a risky investment is equal to the total return on a risky investment less the return on the risk free asset. The risky asset here gives an annual return of 7.1% while the risk free rate is 1.3%. So, the risk premium on the risky asset for additional risk is,

b. A reduction in the annual return on the risky asset will decrease/reduce the interest rate spread which is equal to the difference between the return of the risky and risk free asset. The new spread will be equal to,

c. The risk free rate is expected to be the same as no information is provided. Besides, a fall in annual rate of risky investment means that there is a reduction in the riskiness of such an investment and that would mean that there is a reduction in the default risk in turn leading to a reduction in compensation for default and the default rate.

The risk is made up of risk free + maturity risk + liquidity risk and default risk.

The risk premium on the Risky Investment bond is initially 5.8 percentage points. A decrease in its rate of return from 7.1% to 5.5% narrows the interest rate spread over Treasuries to 4.2 percentage points, likely due to a decrease in the expected default rate of Risky Investment Inc that is option A.

The risk premium on the Risky Investment bond is calculated by subtracting the Treasury bond's rate of return from the Risky Investment bond's rate of return. So the risk premium would be 7.1% - 1.3% = 5.8 percentage points.

When the annual rate of return on the Risky Investment bond decreases from 7.1% to 5.5%, this would narrow the interest rate spread on the Risky Investment bond over Treasuries to 5.5% - 1.3% = 4.2 percentage points.

The decrease in the annual rate of return on the Risky Investment bond could potentially be explained by option 1, which states that the expected default rate on the Risky Investment bond has decreased. This implies that the bond is seen as less risky than before, which can justify a lower rate of return required by investors.

Answer:

The GDP deflator for this year is calculated by dividing the value of goods and services produced in the economy this year using this year's price by the value of goods and services produced in the economy this year using base year's price and multiplying by 100. However, the CPI reflects only the prices of all goods and services bought by consumers.

An increase in the price of equipment feller bencher, which is a commercial forestry machine that cuts and stacks trees, will affect GDP deflator.  

A decrease in the price of the Chinese-made television that is popular among U.S. consumers will affect the CPI, that is, consumer price index.  

Answer:

The options chosen are:

B. the tragedy of the commons;

C. incentive to conserve the property;

E. incentive to protect the property.

Explanation:

B. The tragedy of the commons- Open-access regimes can be exploited on a first-come, first-served basis, because no individual or group has the legal power to restrict access. The consequences of open access have become popularly known as what Hardin (1968) misleadingly called ‘the Tragedy of the Commons.’

C. incentive to conserve the property: In addition, clearly defining and assigning property rights should resolve environmental problems by internalising externalities and relying on incentives for private owners to conserve resources for the future.

E. The Incentive to protect the property - The incentives associated with private property rights can help conserve scarce resources: Private ownership entails penalties for premature harvesting or over-harvesting of resources. Private ownership rewards community and individual cooperation. Private ownership rewards conservation and stewardship behaviour.

Answer:

With moral situation in relationship with sending out capital for creation abroad I would state that organization shouldn't be made to proceed with tasks in the event that they are never again beneficial. As I would see it, one of the primary reasons partnerships would trade capital for creation is expand benefits of their investors. This would be a Libertarian's perspective, which means point of view is that individual prosperity, thriving and social concordance are cultivated by "however much freedom as could be expected" and " as meager government as essential" and accept that when a business is never again gainful officials search for approaches to reduce expenses, and since lower wages can be paid in different nations this can get huge reserve funds for the organization.  

Enterprises ought to be permitted to stay serious and on the off chance that that implies trading capital, at that point so be it. In any case, I do feel that companies have an ethical duty to its workers and network that they are forsaking.  

Utilitarian hypothesis is to create the best great over awful for an extraordinary number of individuals. Sending out capital for creation abroad has helped colossally in the improvement of different nations. An utilitarian doesn't really imply that the correct activity is the one that profits the best, yet the rule is to augment the best advantage for all.  

A moral problem that is related with sending out restricted items is basically the way that the individuals can be harmed or even kick the bucket subsequently in utilizing this prohibited item. Hence, in light of this, I would state that imperatives ought to be set on the exportation of the items banned in U. S. To help my choice, I will utilize the Ethical Theory of German scholar, Immanuel Kant for my defense. Kant's moral hypothesis depends on the hypothesis that ethical issues canine standards be known due to reason alone and not founded on perception. Nonetheless, the contention that the advantages of sending out provisions with the chance of misuses that the great overweight the awful. Therefore, I feel that a few limitations ought to be put on the opportunity to send out wares that have potential for abuse and Utilitarianism, a consequential hypothesis, will bolster my announcement.  

As indicated by an article " Any time we're confronted with a choice that can influence the rights or prosperity of others, we're taking a gander at a moral issue. Regardless of how solid the avocation for lessening the working environment are appeared to be, laying off loyal and gainful representatives in an upsetting encounter for all concerned and those on the less than desirable end face monetary as well as mental injury. " (Bruce Weinstein, 2008)  

For any practical moral point of view, the appropriate response is constantly a yes. An organization that gives no occupations and no advantages has a total assets of literally nothing, best case scenario, and is destructive even under the least favorable conditions, as individuals have put their lives in the endeavor, and should look for work somewhere else, apparently from a comparable industry, which is likely additionally enduring as a rule.  

I don't intend to be hostile or contrarian or basic, yet I figure a superior inquiry would be: " Should a business be permitted to scale back in face of monetary trouble in the event that it could do to something else?" all things considered the appropriate response from a standard Utilitarian point of view turns out to be significantly more troublesome, and relies on various components. In philanthropic capacity feasible for an adequate period of time? Is the potential for venture and development going to give superior to scaling back? I m not certain utilitarianism can even answer this inquiry. I think act utilitarianism would be more qualified, and on account of the subsequent inquiry, my answer would no.  

Concerning breaking an association contract, I think that this is an extreme one for rule utilitarianism. From the degree of the agreement, it isn't adequate, as it abuses the guidelines probably set out for the best advantage of all. On the other hand, if breaking the agreement can spare occupations, rule utilitarianism has crushed itself.  

From the standard point of view, my answer would be "no" as there are no ifs, ands or buts arrangements for exchange that can be utilized to rethink the principles in the event of an emergency. An occupation that pays you less is better than no activity at all under either type of utilitarianism.

The ethics of a business exporting capital and commodities, downsizing, and breaking union contracts are best analyzed using utilitarianism, Kantian ethics, and Rawlsianism.

When considering the ethical implications of a business exporting capital for production abroad, two foundational ethical theories that can be applied are utilitarianism and Kantian ethics. Utilitarianism focuses on maximizing overall happiness or well-being, while Kantian ethics emphasizes the importance of treating individuals as ends in themselves and not as means to an end. From a utilitarian perspective, exporting capital may lead to increased economic growth and job opportunities in the host country, benefiting the overall welfare. However, from a Kantian perspective, if exporting capital results in exploitation of workers or violation of labor rights in the host country, it may be deemed unethical.

Similarly, when examining the ethics of exporting commodities banned in the United States due to health or safety concerns, utilitarianism and Kantian ethics can be utilized. From a utilitarian standpoint, exporting such commodities may maximize overall happiness if there is a demand for them in other countries. However, considering Kantian ethics, if exporting banned commodities poses a risk to the health and safety of individuals in the recipient country, it may be seen as ethically wrong.

Regarding downsizing and breaking union contracts in the face of economic difficulty, utilitarianism and Rawlsianism can be relevant ethical theories. Utilitarianism would consider the overall welfare and outcomes for the business and society, whereas Rawlsianism would prioritize fairness and justice. Downsizing and breaking union contracts may be justified from a utilitarian perspective if it helps the business survive and prevents greater economic harm. However, from a Rawlsian perspective, considerations of fairness and maintaining social and economic stability may suggest the need for alternative approaches that minimize the negative impact on employees and uphold contractual obligations.

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Answer:

First recognize which are expenses and incomes:

Salaries and wages expenses (E)

Supplies Expense (E)

Service revenue (E)

Rent revenue (E)

Depreciation expense (E)

Income statement:

Sales

   Service Revenue            67,700

   Rent revenue                  9,700

Costs

   Sales and wages            (59,100)

Gross Margin                     18,300

Operating expenses

    Supplies                         (16,800)

    Depreciation                  (4,000)

Operating Income              (2,500)

Income before Tax              (2,500)

Income Tax                           (875)

The income statement for Cullumber Company for the year ending July 31, 2022, shows a net loss of $2,500. This result is obtained by subtracting the total expenses of $79,900, which includes salaries and wages, supplies, and depreciation, from the total revenue of $77,400, which is the sum of service and rent revenues.

To create an income statement, you need to consider the company's revenues and expenses. The primary revenue for Cullumber Company is service revenue, and the secondary one is rent revenue. Expenses include salaries and wages expense, supplies expense, and depreciation expense.

Income Statement for Cullumber Company

This indicates that the company experienced a loss for the year as the expenses exceeded the revenues. Financial statements like these are vital for understanding the company's financial health.

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Solution and explanation

Present value of the $1,500 monthly payments is  

PMT                                                                                       $1,500

Annual Rate                                                                               6.05%

Number of period (NPER)                                                        420

Present value Annuity (PVA) (calculated in excel using PV function)                                 $261,528.41

[tex]\mathrm{PVA}=\$ 1,500\left[\left(1-\left\{1 /[1+(.0605 / 12)]^{\wedge} 420\right\}\right) /(.0605 / 12)\right][/tex] $261,528.41  

Cost of Home                                                                          $310,000

Amount of principal still owe = $310,000 - $261,528.41 $48,471.59

Balloon payment in 35 years, which is the FV of the remaining principal =  

Present Value                                                            $48,471.59

Annual Rate                                                                      6.05%

Number of period (NPER)                                              420

Future Value (calculated in excel using FV function) $400,677.90

Balloon payment = [tex]\mathbf{S} 48,471.59[1+(.0605 / 12)] 420[/tex]   $400,677.90

Answer:

The question is incomplete. Missing Portion is written as bold in explanation.

Explanation:

Required:

1. Prepare journal entries to record the transactions given above.

2. Prepare T-accounts for Manufacturing Overhead and Work in Process. Post the relevant transactions from above to each account. Compute the ending balance in each account, assuming that Work in Process has a beginning balance of $37,000.

Account                                                   Dr                      Cr

1.Raw materials                                     209000

Account payable-Liability                                             209000

The Materials are purchased in credit.

2. Work In Process                               152000

Manufacturing Overhead                     38000

Raw materials                                                               190000

Entry for Materials used in Production.

3.  Work In Process                               48000

Manufacturing Overhead                      22000            

Salaries payable                                                           70000

4.Manufacturing Overhead                   104000            

Depreciation                                                                 104000

5. Manufacturing Overhead                  131000                      

Account payable                                                                 131000

6.Work In Process                                686700     ( 9 x 76300= 686700)

Manufacturing Overhead                                                  686700

7.Finished Goods                                      512000

Work In Process                                                                   512000                      

8.Cost of goods sold                                   449000

Finished Goods                                                                    449000

Accounts Receivable                                  547780

Sales Revenue                                                                     547780

**Sales  - Cost of job * 1.22 (22 % above cost)  

2. T-accounts for Manufacturing Overhead and Work in Process.

                Manufacturing overhead

                  Dr                                   Cr

             22000                             686700  

              38000

              104000

             131000                                                      

Ending balance                             391700 - Favorable          

                           Work In process

                                   Dr                                Cr

beginning bal.        37000                            

                                152000                        

                                48000                            512000

                               686700                                                      

Ending balance       411700        

The Polaris Company uses a job-order costing system, accounting for various cost factors in production and utilizing a predetermined manufacturing overhead rate. This system is essential for tracking product costs and determining the financial performance of the company.

The Polaris Company's job-order costing system handles various transactions that impact the cost of manufactured products. In October, these transactions include raw materials purchase, consumption in production (split into direct and indirect materials), and accrued labor costs, both direct and indirect.

Manufacturing overhead costs, including depreciation of factory equipment and other overheads, are also accounted for. Importantly, manufacturing overhead is applied at a predetermined rate based on machine hours utilized.

This information aids in calculating the cost of goods manufactured and cost of goods sold, vital for determining the company's financial performance for that month.

When the jobs are transferred to Finished Goods and eventually sold to customers at a markup, understanding this costing system helps ascertain profitability and cost efficiency within the company.

Answer:

Fishbone diagram

Explanation:

The fishbone diagram, also known as Ishikawa diagram or the cause and effect diagram is a visualization tool used for grouping the likely causes of a problem to know its root causes. A fishbone diagram blends brainstorming with a mind map template.

A fishbone diagram is used for troubleshooting and product development. After all the likely causes of a problem has been brainstormed by the group, the facilitator rates the possible causes in accordance to their importance. The diagram's design resembles a fish skeleton. Fishbone diagrams are usually made at team meetings.

Answer: Cause and Effect Diagram/Fishbone Diagram

Explanation: The Cause and Effect /Fishbone Diagram is so named because of its similarity to the skeleton of a fish. It is used to visulaize the causes of a quality problem and the interactions between them.

When the possible causes are categorized into manpower, methods, material  and machines, it is a 4M Cause and Effect Diagram. This is useful in a manufacturing environment where any of these factors can be the cause of a quality problem. These categories are further divided into subcategories and help identify the cause of quality issues.

Answer:

Ending inventory= $5,592.45

Explanation:

Giving the following information:

Mar. 1: Beginning inventory= 1,090 units at $7.25

Mar. 10: Purchase: 510 units at $7.75

Mar. 16: Purchase: 397 units at $8.35

Mar. 23: Purchase: 510 units at $9.05

First, we need to calculate the number of units in ending inventory:

Ending inventory in units= total units - units sold

Ending inventory in units= 2,507 - 1,880= 627

Under FIFO (first-in, first-out), the ending inventory is composed of the cost of the last units bought.

Ending inventory= 510*9.05 + 117*8.35= $5,592.45

The student's question involves identifying and classifying average variable cost (AVC), marginal cost (MC), and average total cost (ATC) in business economics. AVC is variable costs divided by output quantity, MC is the derivative of total cost with respect to quantity, and ATC is total costs divided by output quantity.

The student's question pertains to the classification of different cost measures commonly used in economics and business studies: average variable cost (AVC), marginal cost (MC), and average total cost (ATC). Each of these measures provides insight into the cost structure of a firm on a per-unit basis. Here's a simplified breakdown:

Average Variable Cost (AVC) is defined as the variable cost (VC), which includes costs that do vary with the level of output, divided by the quantity (Q) of output. Mathematically, AVC = TVC/Q.

Marginal Cost (MC) is the additional cost of producing one more unit of output. It is calculated as the derivative of Total Cost (TC) with respect to quantity (Q), which can be expressed as MC = d(TC)/dQ.

Average Total Cost (ATC) is the sum of all the costs (both fixed and variable) incurred by a firm, divided by the total quantity of output produced. It is calculated as ATC = TC/Q.

An understanding of these concepts is crucial for making informed business decisions, such as determining the optimal level of production or pricing strategies.

Answer:

inventory turnover= 3

Explanation:

Giving the following information:

A firm’s inventories on hand are $200,000

The cost of goods sold is $600,000.

To calculate the inventory turnover, we need to use the following formula:

inventory turnover= cost of goods sold/ average inventory

inventory turnover= 600,000/200,000= 3