Answer: Yes,the production exhibit the scale of Economies scale.
Explanation: VC/Q=12000/1000=$12
Answer: AC=$24,000/Q+$12
The following cost data relate to the manufacturing activities of Chang Company during the just completed year:
Manufacturing overhead costs incurred:
Indirect materials $15,000
Indirect labor 130,000
Property taxes, factory 8,000
Utilities, factory 70,000
Depreciation, factory 240,000
Insurance, factory 10,000
Total actual manufacturing overhead
costs incurred $473,000
Other costs incurred:
Purchases of raw materials(both
direct and indirect) $400,0000
Direct labor cost $60,0000
Inventories:
Raw materials, beginning. $20,0000
Raw materials, ending $30,0000
Work in process, beginning $40,0000
Work in process, ending $70,0000
The company uses a predetermined overhead rate to apply manufacturing overhead cost to production. The total estimated manufacturing overhead for the period is $376,000. The total estimated machine hours are 23,500. A total of 23,000 actual machine-hours was recorded for the year.
Required:
1. Compute the amount of underapplied or overapplied overhead cost for the year.
2. Prepare a schedule of cost of goods manufactured for the year.
Answer:
Amount of underapplied or overapplied overhead cost for the year
$97000 - Underapplied
Schedule of cost of goods manufactured for the year
Direct Material 3885000
Direct Labor 60000
Overheads 376000
Total Manufacturing Costs 4321000
Add Opening Inventory WIP 400000
Less Closing Inventory WIP (700000)
Cost of Goods Manufactured 4021000
Explanation:
Amount of underapplied or overapplied overhead cost for the year
Underapplied or Overapplied overhead cost =Actual Overhead - Applied Overhead
$473000-$376000= $ 97000
Schedule of cost of goods manufactured for the year
Direct Materials Calculation
Opening 200000
Add Purchases 4000000
Available 4200000
Less Closing Material 300000
Materials Consumed 3900000
Less Indirect Materials 15000
Direct Materials Consumed 3885000
Answer:
1. The overhead is under applied - $ 105,000
2. Schedule of cost of goods manufactured
Raw materials consumed $ 390,000
Direct Labor $ 60,000
Applied manufacturing overhead $ 368,000
Total manufacturing input $ 818,000
Add: Opening work in process $ 40,000
Less: Closing work in process $ ( 70,000)
Cost of goods manufactured $ 788,000
Explanation:
Calculation of predetermined overhead
Estimated manufacturing overhead $ 376,000
Estimated machine hours 23,500
Predetermined overhead rate $ 16 per machine hour
Calculation of over - under application of overhead
Actual machine hours 23,000
Predetermined overhead rate $ 16 per machine hour
Total Overhead applied 23,000 * $ 16 = $ 368,000
Actual overhead $ 473,000
Underapplication of overhead $ 105,000
Calculation of materials consumed
Raw materials beginning $ 20,000
Purchases $ 400,000
Less: Raw materials ending $ ( 30,000)
Raw materials consumed $ 390,000
Direct Labor $ 60,000
Applied manufacturing overhead $ 368,000
Total manufacturing input $ 818,000
Add: Opening work in process $ 40,000
Less: Closing work in process $ ( 70,000)
Cost of goods manufactured $ 788,000
One-time shocks to a time series from a distinctly external influence, such as a sudden dip in consumer sales after a disruptive event, are called _____ variations. a. natural b. exogenous c. Black Swan d. unknown
Answer:
b. exogenous
Explanation:
Exogenous variations are variations that occur in one independent variable that helps one predict one or more dependent variables in a model.
Endogenous variations on the other hand are values that are determined by other variables ( these controlling variables are exogenous variables).
So in this scenario one-time shocks to a time series from a distinctly external influence (exogenous variable), such as a sudden dip in consumer sales (endogenous variable) after a disruptive event.
Answer: B. Exogenous
Explanation: Exogenous variations are caused by variables that are not affected by other variables in the system. Their values are determined outside the model and as such are imposed on the model; they are fixed when they enter the model, are taken as a “given” in the model, and are not determined or explained by the model. They also influence endogenous variations in the model. For example, a change in the consumer's income, sudden dips in consumer sales after a disruptive event etc.
Use the high-low method to determine the hospital's cost equation using nursing hours as the cost driver. Predict total overhead costs if 23 comma 500 nursing hours are predicted for the month. Use the high-low method to determine the hospital's cost equation using nursing hours as the cost driver.
Answer: Total cost (23500 hours predicted ) = $ 484625
Explanation:
The question is incomplete the high and low methods requires us to use high and low level of activity together with the corresponding total costs at each level to determine the variable cost per unit. we will provide assumed total costs and nursing hours in order to show how high and low method is used to predict total costs for the next period.
Assume the following were total costs and corresponding nursing hours for the previous 3 months
Total cost Hours
$560000 30000 hours
$400000 220000 hours
$225000 10000 hours
calculating Variable cost using high and low method
Variable cost per unit = (high cost - low cost)/high hour - low hours)
Variable Cost Per unit = (840000 - 225000)/ (30000 - 10000) = 16.75
Variable cost per unit = $ 16.75
Fixed costs = 560000 - (28000 x 16.75) = 560000 - 469000
Fixed costs = $91000
Total cost (23500 hours predicted ) =Total Fixed cost + Total Variable costs
Total cost (23500 hours predicted ) = $91000 + (23500 x $16.75)
Total cost (23500 hours predicted ) == $91000 + $393625
Total cost (23500 hours predicted ) = $ 484625
The hospital's cost equation using nursing hours as the cost driver is: Cost = $4.80 per nursing hour + $10,000. Predicted total overhead costs when 23,500 nursing hours are predicted for the month is $120,600.
Explanation:The high-low method involves selecting the highest and lowest levels of activity and their respective costs to estimate the cost equation. Using the provided data points, we determine the cost equation for the hospital's overhead costs as follows:
1. Identify the highest and lowest levels of activity and their corresponding costs.
2. Calculate the variable cost per unit of activity (nursing hour).
3. Determine the fixed cost component of the equation.
4. Formulate the cost equation using the variable and fixed cost components.
5. Predict total overhead costs by substituting the predicted level of activity (23,500 nursing hours) into the cost equation.
In this case, the cost equation is Cost = $4.80 per nursing hour + $10,000. Substituting 23,500 nursing hours into the equation gives a predicted total overhead cost of $120,600.
Unearned revenues are generally: Multiple Choice Revenues that have been earned and received in cash. Increases to common stock. Recorded as an asset in the accounting records. Liabilities created when a customer pays in advance for products or services before the revenue is earned. Revenues that have been earned but not yet collected in cash.
Answer:
i dont get it, is there a question?
Explanation:
Suppose that a 5-year Treasury bond pays an annual rate of return of 2.9%, and a 5-year bond of the fictional company Risky Investment Inc. pays an annual rate of return of 7.3%. The risk premium on the Risky Investment bond is ___ percentage points.
Answer:
The risk premium is 4.4%
Explanation:
The risk premium on any given investment is the difference between the risky investment and the risk free investment and in this case we know treasury bonds are risk free and offer a certain return of coupons because they come from governments rather than the fictional ones like the one from risky investment inc so to find the risk premium we say :
Risk Premium = Risky investment rate - Risk free investment Rate
= 7.3% - 2.9%
= 4.4%
Answer: The risk premium on the risky investment bond is 4.4%
Explanation: Risk premium is the rate of return by which a risky asset must exceed a risk free asset. The aim of this is to induce an individual to hold the risky asset rather than the risk-free asset.
Risk premium (Rm) is calculated by subtracting the risk free rate (Rf) from the risky investment rate (Ri).
That is Rm= Ri - Rf
= 7.6% - 2.9%
=4.4%
One year ago, Deltona Motor Parts deposited $16,500 in an investment account for the purpose of buying new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today.
How much will be available when it is ready to buy the equipment, assuming the account pays 5.5% interest?
Answer:
At the end of the fourth year period, the total amount will be of: $56,792.01
Explanation:
Giving the following information:
One year ago, Deltona Motor Parts deposited $16,500 in an investment account to buy new equipment three years from today. Today, it is adding another $12,000 to this account. The company plans on making a final deposit of $20,000 to the account one year from today.
To calculate the ending amount of money, we need to use the following formula dor each deposit:
FV= PV*(1+i)^n
Therefore:
FV= 16,500*(1.055)^4= $20,440.61
FV= 12,000*(1.055)^3= $14,090.90
FV= 20,000*(1.055)^2= $22,260.5
Total= $56,792.01
Sunland Industries collected $105,000 from customers in 2019. Of the amount collected, $24,400 was for services performed in 2018. In addition, Sunland performed services worth $38,100 in 2019, which will not be collected until 2020. Sunland Industries also paid $73,200 for expenses in 2019. Of the amount paid, $31,000 was for expenses incurred on account in 2018. In addition, Sunland incurred $41,100 of expenses in 2019, which will not be paid until 2020. Compute 2019 cash-basis net income. Cash-basis net income s 3X Compute 2019 accrual-basis net income. Accrual-basis net income
Cash Basis Income:
1. Cash 105000
Sales revenue 105000
2. Cash 24400
Sales revenue 24400
3.No entry
4.Expense 73200
Cash 73200
5.Expense 31000
Cash 31000
6.No entry
Sunland industries
Cash basis net Income
Sales (105000+24400) =129400
less: expenses (73200+31000) =(104200)
Income 25200
Accrual Basis Income
. 1.a.) Account receivable 105000
Sales revenue 105000
b.) Cash 105000
Account receivable 105000
2. a)Account receivable 24400
Sales revenue 24400
b) Cash 24400
Account receivable 24400
3. Account Receivable 38100
Sales revenue 38100
4.a) Expense 73200
Payable 73200
b) Payable 73200
Cash 73200
5.Payable 31000
Cash 31000
6. Expenses 41100
Payable 41100
Sunland industries
Accrual basis net Income
Sales (105000+24400+38100) =167500
less: expenses (73200+41100) =(114300)
Income 53200
launching a new product: hard ginger ale, with expected sales of $10 million this year. They do expect there will be loss of sales of $1 million this year and next year in their other products as customers switch to drinking the new ginger ale. The gross profit margin for the new ginger ale is 40%, the gross profit margin of all of the brewer's other products is 30%, and the brewer's marginal corporate tax rate is 35%. Assume all other expenses remain the same. What are the incremental cash flows from operations arising from the new product in year 1
Answer:
$1.95 million
Explanation:
Incremental cash flow is defined as the extra operating cash flow gained by an organization from launching a new product or service. Additional cash flow implies that the cash flow of the company will be increased with the introduction of the new product or service.
$10 million - (40% *$10 million) - $1 million = $5 million
$5 million × 0.6 = $3 million
$3 million × 0.65 = $1.95 million`
If the Federal Reserve lowers the discount rate, ceteris paribus (all else being equal), the equilibrium levels of funds lent will __________ and the equilibrium level of real interest rates will ___________.
Answer:
If the Federal Reserve lowers the discount rate, ceteris paribus (all else being equal), the equilibrium levels of funds lent will _____increase_____ and the equilibrium level of real interest rates will _____decrease______.
Explanation:
The Federal Reserve discount rate is how much the U.S. central bank charges its member banks to borrow from its discount window to maintain the reserve it requires. In the U.S., the money supply is influenced by supply and demand—and the actions of the Federal Reserve and commercial banks.
The Federal Reserve sets interest rates, which determine what banks charge each other to borrow money, what the Federal government charges banks to borrow money and what the consumer has to pay to borrow money. All else being equal, a larger money supply lowers market interest rates, making it less expensive for consumers to borrow. Conversely, smaller money supplies tend to raise market interest rates, making it pricier for consumers to take out a loan. The current level of liquid money (supply) coordinates with the total demand for liquid money (demand) to help determine interest rates.
The term "podcasting" is a misnomer because podcasts ________. are concerned with the dissemination of information to a narrow audience cannot be played on Apple's iPods are not related to distribution of digital media for digital devices can be played on a variety of devices in addition to Apple's iPods are concerned with outsourcing tasks to a large group of people or community
The term "podcasting" is a misnomer because podcasts can be played on a variety of devices in addition to Apple's iPods
Explanation:
The term podcasting is a combination of two words -iPod(a personal digital audio player made by apple) and broadcast
Podcast is a free service that is provided by a podcasting website which allows the internet users to download audio files for their personal purpose (Like computer or audio players)
Examples of Podcasting include include Amazon Video, Hulu, and Netflix.
Podcasting is a marketing tool which is used by the Marketing agencies for advertisement of it various products
The term "podcasting" is a misnomer because podcasts can be accessed and played on a wide range of devices beyond just Apple's iPods, reflecting their broad accessibility and versatility in the digital media landscape.
Explanation:The term "podcasting" is considered a misnomer because podcasts can be played on a variety of devices in addition to Apple's iPods. Initially, the name podcasting evolved from the popularity of the iPod, suggesting a misleading exclusive association with these devices. However, podcasts are digital audio or video pieces that can be accessed conveniently on a wide range of computers and handheld digital devices, not just Apple's iPods. They represent a significant shift in the way information and entertainment are distributed and consumed, allowing for the dissemination of content to a broad or narrow audience depending on the nature of the podcast.
The versatility and accessibility of podcasts illustrate their capacity to reach listeners through multiple types of devices, making the term "podcasting" somewhat of an anachronism in the contemporary media landscape.
Compute the number of units available for sale in March. 1(b). Compute the number of units in ending inventory on March 31. 2. Compute the cost assigned to ending inventory using specific identification. Note: The March 9 sale consists of 80 units from March 1 purchase and 340 units from the March 5 purchase; the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase.
Final answer:
To compute the number of units available for sale in March, we add up the units in the beginning inventory and the units purchased during the month. The exact number of units available for sale in March is not provided. However, we can calculate the ending inventory on March 31 using the sales information provided. The cost assigned to ending inventory using specific identification cannot be determined without the exact ending inventory.
Explanation:
To compute the number of units available for sale in March, we need to add up the units in the beginning inventory and the units purchased during the month. In this case, the beginning inventory is not given, so we cannot compute the exact number of units available for sale in March. However, we can calculate the number of units in ending inventory on March 31 using the sales information provided. The March 9 sale consists of 80 units from the March 1 purchase and 340 units from the March 5 purchase.
Therefore, the total number of units sold from March 1 to March 9 is 80 + 340 = 420 units. Similarly, the March 29 sale consists of 40 units from the March 18 purchase and 120 units from the March 25 purchase. So, the total number of units sold from March 1 to March 29 is 420 + 40 + 120 = 580 units. To calculate the ending inventory on March 31, we subtract the total units sold from the units available for sale. However, the total units available for sale is not given, so we cannot compute the exact ending inventory for March.
Regarding the cost assigned to ending inventory using specific identification, we assign the costs of the specific units that are still in the inventory. Since the exact ending inventory is not provided, we cannot determine the cost assigned to it using specific identification.
Demarco and Janine Jackson have been married for 20 years and have four children who qualify as their dependents (Damarcus, Janine, Michael, and Candice). The couple received salary income of $100,000 and qualified business income of $10,000 from an investment in a partnership, and they sold their home this year. They initially purchased the home three years ago for $200,000 and they sold it for $250,000. The gain on the sale qualified for the exclusion from the sale of a principal residence. The Jacksons incurred $16,500 of itemized deductions, and they had $3,550 withheld from their paychecks for federal taxes. They are also allowed to claim a child tax credit for each of their children. However, because Candice is 18 years of age, the Jacksons may only claim the child tax credit for other qualifying dependents for Candice. (Use the tax rate schedules.)
Solution:
(1) Net sales $110,000 $100,000 Wage benefit + $10,000 QBI.
Winning $50,000 home prices is exempt.
(2) Deductions for AGI 0.
(3) Adjusted gross income 110,000 (1) − (2)
(4) Regular deduction 24,000 Married registration together.
(5) 16,500 deductions, which have been recorded.
(6) Greater regular allowances or comprehensive allowances 24,000 24,000 Greater of (4) or (5)
(7) Deduction for qualified business income 2,000 $10,000 QBI × 20%
(8) Total deductions from AGI 26,000 (6) + (7)
(9) Taxable income $ 84,000 (3) − (8)
(10) Income tax liability $ 10,359 (84,000 - 77,400) × 22% + 8,907 (see tax rate schedule for married filing jointly).
(11) Other taxes 0
(12) Total tax $ 10,359 (10) + (11)
(13) Credits (6,500 ) Child credits for four children (3 ×$2,000 + 1 × $500)
(14) Prepayments (3,550 )
Tax due with return $ 309 (12) + (13) + (14)
William is a single writer (age 35) who recently decided that he needs to save more for retirement. His 2019 AGI is $68,000 (all earned income). (Leave no answer blank. Enter zero if applicable.)If he does participate in an employer-sponsored plan, what is the maximum deductible IRA contribution William can make in 2019?
Answer:
The maximum IRA contribution William can make is $6000 a year.
Explanation:
There are limits in the IRA contribution plans to make sure that there are no people benefiting more than others because of their high pay instead limits are per age. if younger than 50 years then Maximum contribution per year is $6000 and if older then it is $7000 it is increasing with age not salary.
Using the data below, determine the ending inventory amount assuming the weighted average method with a periodic inventory system. Beginning inventory, 10 units Purchases, 20 units Total cost of units available for sale, $3,000 Ending inventory, 12 units $3,000 $100 $1,200 None of these choices are correct. 2. Using the data below, calculate the cost of merchandise sold. Beginning inventory, $1,000 Inventory purchased, $3,000 Net Income, $40,000 Ending inventory, $2,000 Sales, $185,000 $2,000 $4,000 $185,000 $145,000
The ending inventory amount is $1200 using the weighted average method and the cost of merchandise sold is $2000.
Explanation:To determine the ending inventory amount using the weighted average method, you need to divide the total cost of units available for sale by the total units available. In this case, $3000(available cost) divided by 30 units(10 units of the beginning inventory and 20 units bought) makes $100 per unit as average cost. Multiplying this average cost by the number of units in the ending inventory(12 units), we have $1200 as the ending inventory amount.
To calculate the cost of merchandise sold or Cost of Goods Sold(COGS), you need to subtract the ending inventory from the total cost of goods available. Here, $1000(beginning inventory) added to $3000(inventory purchased) gives us a total of $4000. Subtracted by $2000(ending inventory), we'll have $2000 as the cost of merchandise sold.
Learn more about Inventory Valuation and Calculating COGS here:https://brainly.com/question/30870331
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The Winter Wear Company has expected earnings before interest and taxes of $3,800, an unlevered cost of capital of 15.4 percent and a tax rate of 35 percent. The company also has $2,600 of debt with a coupon rate of 5.7 percent. The debt is selling at par value. What is the value of this firm
Answer:
The value of the firm is $16,949
Explanation:
Value of the firm is the firm's economic value at a particular time. Winter Wear Company's value will be calculated by:
= [tex]\frac{EBIT(1-tax rate)}{Unlevered Cost of Capital}[/tex] + (Tax rate * Debt) =
Here given are,
EBIT = $3,800
Tax Rate = 35%
Unlevered Cost of Capital = 15.4%
Debt = $2,600
= [tex]\frac{3,800(0.65)}{0.154}[/tex] + (0.35 x $2,600)
= $16,039 + $ 910
= $16,949
Final answer:
The value of the Winter Wear Company is approximately $24,726.77, which is calculated by adding the value of the unlevered firm to the value of the tax shield from the debt.
Explanation:
To calculate the value of the Winter Wear Company, we need to consider both the value of the company without any leverage (unlevered) and the effects of the debt on the value of the company (levered).
Firstly, let's calculate the value of the unlevered firm. This is done by dividing the expected earnings before interest and taxes (EBIT) by the unlevered cost of capital. This will give us the value of the firm if it had no debt.
Unlevered Firm Value = EBIT / Unlevered Cost of Capital
Unlevered Firm Value = $3,800 / 0.154 = $24,675.32 approximately
Next, we can calculate the value of the tax shield that debt provides. This is the amount by which the tax deductible interest payments on the debt reduce the company's tax liability.
Tax Shield Value = Tax Rate x Debt x Coupon Rate
Tax Shield Value = 0.35 x $2,600 x 0.057 = $51.45
Finally, we add the value of the unlevered firm and the tax shield to get the total value of the levered firm.
Levered Firm Value = Unlevered Firm Value + Tax Shield Value
Levered Firm Value = $24,675.32 + $51.45 = $24,726.77 approximately
Thus, the value of the Winter Wear Company, considering debt and taxes, is approximately $24,726.77.
Bayside Health Systems is in a community that is changing. It had been an industrial city, but many of the industries have closed. The local college is growing and is now the number one employer. Other major business include healthcare, a local amusement park, and a large outlet retail mall. The population is also changing with a greater number of young people because of the college and work available at the amusement park and mall.
The only currently existing hospital competing against you has the trauma center for the area and is opening an OB service. There is no children’s hospital or orthopedic services in the area. Both existing hospital treat some pediatric and orthopedic patient but most are sent to other hospitals located several hours away.
Bayside Health Systems will be opening a new high-tech hospital next year (this will be a second hospital in the system).
Bayside Health Systems recently added physician offices, home health, and occupational health to their network. However, they have not networked and implemented existing systems to these organizations.
Administration developed the following business objectives.
Improve quality of care provided to patient
Use hospital resources effectively and efficiently
Increase market share of healthcare services provided.
Bayside Health Systems have the following systems implemented
Lab information system implemented 5 years ago
Radiology information system implemented last year
Nursing information system implemented 3 years ago
Hospital information system implemented 10 years ago
Decision support system – ready for implementation but not implemented
Financial information system was implemented 2 years ago
Electronic Health Record
The following systems are not developed/implemented
Knowledge based system
Order entry/results reporting
Intensive care unit
Data Repository
Based on the information above, create a strategic plan. Address at minimum the following four questions:
How well are systems in place to meet the objectives?
Determine possible projects to ensure that the objective are met?
How can you use technology to prepare for the changes in the community?
How will HIM be affected by your proposed projects?
NOTE: Do not just answer the questions, create a plan which includes the responses to the questions.- do more then the bare minimum, orginal work and references
The bayside health system has been in operation for over 60 years. Its mission is to be committed to identifying and serving the health care needs of the community and its vision is to improve the quality of life through meeting the health care needs of the community they are committed to. Over the years it has managed to be committed to providing quality health care to its customers.it has been able to implement the following systems to help in its operation:
Lab information system Radiology information system Nursing information system Hospital information system Financial information system Electronic health record
Each of these systems plays a role towards the achieving of Bayside health system’s objectives which are:
to improve the quality of care they provide to their customers to utilize the resources of the hospital effectively and efficiently to increase their market share
The electronic health record for instance saves the system time when searching for data on their patients. The lab information systems on the other hand improves the quality of services that the system offers to its customers by helping in processing, storage and managing of data from all the stages involved in medical processes and tests. The implemented systems work together to ensure that the System meets its objectives.
In order to meet all its objectives, Bayside Health Systems can implement the following projects:
· Create a community health advisory board. This can act as channel for continued support in the community. The board main role would be to gather feedback or complains from the community and then present them to the System so it can act on them.
· Develop an intensive care unit to accommodate the patients with severe injuries or life threatening illnesses and need close monitoring and support from machines to gain normal body functioning. This will make it the only health care with an intensive care unit hence increase its market share.
· Opening a hospital specifically for children. Most of the children in the area are send to far away hospitals once they get sick therefore, by opening this it will have increased its market share.
· Starting to offer orthopedic services. These are services connected with treatment of the bones, joints and muscles.
Bayside Health Systems can change its payment methods to cope with the changing community due to the growth of a college. The youth prefer a fast payment method and the use of technology therefore the hospital can use a digitized payment method for its customers to use. Technology can also be used to come up with applications that can help in work with specific features designed to suit the productivity of the Systems. Bayside health systems can also use technology to introduce online booking of appointments or consultations to cope with the changes in the community which is now occupied with more youth due to the college.
The Health Information Management will now be tasked with storing of health information of all the patients of the health care including the children and the intensive care unit patients and orthopedic patients once the health care implements the suggested projects.
Chose the best plan for each of the following statement:(1) We are known for our operating efficiency and for reducing insurance costs for our customers.(2) The Human Resource Division will reduce the overall cost of fulfilling employment requisitions by eliminating the use of outside recruiting agencies.(3) We will eliminate redundancies throughout the corporation to decrease our overall expenses by 20%.(4) Each human resource employee will use advertisements and personal networking to attract at least 10 qualified applicants per open position.(A) Tactical(B) Mission statement(C) Operational(D) Strategic
Answer & Explanation:
(1) We are known for our operating efficiency and for reducing insurance costs for our customers - Mission statement
(2) The Human Resource Division will reduce the overall cost of fulfilling employment requisitions by eliminating the use of outside recruiting agencies - Tactical
(3) We will eliminate redundancies throughout the corporation to decrease our overall expenses by 20% - Strategic
(4) Each human resource employee will use advertisements and personal networking to attract at least 10 qualified applicants per open position - Operation
Raw materials purchased on account, $102,000. Direct materials used in production, $42,500. Indirect materials used in production, $15,000. Paid cash for factory payroll, $55,000. Of this total, $37,000 is for direct labor and $18,000 is for indirect labor. Paid cash for other actual overhead costs, $8,375. Applied overhead at the rate of 125% of direct labor cost. Transferred cost of jobs completed to finished goods, $72,600. Sold jobs on account for $104,000. The jobs had a cost of $72,600.
Answer:
Journal Entries are given below in explanation.
Explanation:
Account Dr Cr
1.Raw materials 102000
Account payable-Liability 102000
The Materials are purchased in credit.
2. Work In Process 42500
Direct materials / Raw materials 42500
Entry for Materials used in Production.
3. Factory Overhead 15000
Raw materials 15000
Entry for indirect materials used in production
4. Factory payroll- Salaries 55000
Cash / Bank 55000
Salaries to employees are paid through cash.
5. Direct Labor / Work in Process 37000
Factory Overhead / Indirect labor 18000
Factory Payroll 55000
6. Overhead 8375
Cash / bank 8375
7. Work in process 46250
Applied Overhead 46250
Applied overhead is charged as 125 % of direct labor cost.
8. Finished Goods 72600
Work In Process 72600
Transfer of inventory from Work in process to Finished Goods
9. Accounts Receivable 104000
Sales Revenue 104000
Cost of goods sold 72600
Finished Goods 72600
Entry for selling finished job on account.
Sam Seller was worried that Barney would not perform under the contract and demanded an assurance. How many days does Barney have from Sam's demand to give assurance?
Final answer:
In business law, a party concerned about another's contract performance can request assurance in writing. Under the UCC Section 2-609, the party must provide assurance within 30 days, or the concerned party may treat the failure as an anticipatory breach of contract.
Explanation:
The scenario described involves contractual obligations and the need for assurance of performance. Legally, when one party to a contract expresses concern about the other party's ability to perform, they can request a written assurance of performance. Although the specifics can vary based on jurisdiction and the terms of the contract itself, the Uniform Commercial Code (UCC), which is often adopted in the United States, generally provides a guideline for such situations. Under UCC Section 2-609, when reasonable grounds for insecurity arise with respect to the performance of either party, the other may in writing demand adequate assurance of due performance and until he receives such assurance may if commercially reasonable suspend any performance for which he has not already received the agreed return. The party receiving the demand must provide assurance within a reasonable time, which is considered to be not to exceed 30 days. If assurance is not provided within this timeframe, the party demanding assurance may treat the failure as an anticipatory breach of contract.
If the lender holding the nonrecourse debt secured by Kevan’s land required Kevan to guarantee 33.33 percent of the debt and Jerry to guarantee the remaining 66.67 percent of the debt when Albee LLC was formed, how much gain or loss will Kevan recognize?
Answer:
Kevin will recognised loss of $45,003
Explanation:
The question is not completed. The following data for Kevan are missing.
Kevan:
Cash contributed = $15,000
Land = $120,000
Nonrecourse debt relief = $210,000
Debt secured forming Albee LLC = $90,000
Note that Kevin is required to guarantee 33.33% of the debt
Therefore, the debt is ( 33.33/100) x 90,000 = $29,997
Therefore, Kevin gain or loss = (210,000 - 120,000 - 15,000 - 29,997) in $ = $45,003
This $45,003 will be a loss because the nonrecourse debt of $210,000 is more than Kevin's total money from land, contributed cash and share of guarantee loan.
Final answer:
Kevan will recognize gain or loss based on his 33.33 percent guarantee of the nonrecourse debt secured by land for Albee LLC. Kevin will recognised loss of $45,003
Explanation:
The question asks about the recognition of gain or loss by Kevan based on his part of the guarantee on nonrecourse debt for the land secured when forming Albee LLC. The extent of liability assumed by Kevan dictates the potential financial impact on him. Thus,
Cash contributed = $15,000
Land = $120,000
Nonrecourse debt relief = $210,000
Debt secured forming Albee LLC = $90,000
As, Kevin is required to guarantee 33.33% of the debt
Therefore, the debt is ( 33.33/100) x 90,000 = $29,997
Therefore, Kevin gain or loss = (210,000 - 120,000 - 15,000 - 29,997) in $ = $45,003
This $45,003 will be a loss because the nonrecourse debt of $210,000 is more than Kevin's total money from land, contributed cash and share of guarantee loan.
Assume that the pre-worker production function is yt = 2kt^0.5. The saving and depreciation rete retes are estimated at 0.2 and 0.04, respectively.
a. Calculate the capital-labor ratio steady state for this economy.
b. Calculate consumption per worker at the steady state.
Answer:
(A). It is given that the production function is [tex]Y_{t} = 2K_{t}^{0.5}[/tex]. All the variables are in per workers terms. Like y) is output per worker and lu is the capital-labor ratio.
The Depreciation rate is [tex]∞[/tex] = 0.04 and the Savings rate is [tex]S_{t}[/tex] = 0.2
a) At steady-state the change in capital is zero. The calculation of capital-labor ratio given steady state is as follows:
Δk = 0
[tex]SY_{t} - ∞K_{t} = 0[/tex]
[tex]0.2(2K_{t}^{0.5} ) = 0.04K_{t}[/tex]
[tex]0.4K_{t}^{0.5} = 0.04K_{t}[/tex]
[tex]K_{t} = 100[/tex]
Thus, the steady-state value of the capital-labor ratio is [tex]K_{t} = 100[/tex]
(b) to calculate consumption per worker, first calculate the output per worker and then calculate the consumption per worker. The calculations are as follows:
[tex]Y_{t} = 2K_{t}^{0.5}[/tex]
[tex]Y_{t} = 2(100)^{0.5}[/tex]
[tex]Y_{t} = 2(10)[/tex]
[tex]Y_{t} = 20[/tex]
The output per worker is 20
The calculation of steady-state value of the consumption per worker is as follows
C= (1—s) y
C = (1— 0.2)20
C= 0.8 x 20
C = 16
Thus, the consumption per worker at the steady state is 16
Answer:
a) K_t 100
b) Y_t = 200
Explanation:
When the economy is at steady state then, it will grow at zero it is only replacing for the depreciate capital.
So, savings times income (investment) matches Capital times depreciation rate
[tex]S \times Y_t = d \times K[/tex]
[tex]0.2(2K_t^{0.5})= 0.04K_t\\0.4K_t^{0.5} = 0.04K_t\\K_t = (\frac{0.04K_t}{0.4})^2 \\K_t = 0.01K_t^2\\\\0 = 0.01K_t^2 - K_t\\$We solve the root: K_t = 100[/tex]
(The previous istep is made with the quadratic formula)
second question:
Now, we solve for C per worker at this rate
[tex]Y_t= 2K_t^{0.5}\\Y_t = 2(100)^{0.5}\\\\Y_t = 20[/tex]
A regression line is the line that best fits the data, but this does not mean that the fit is good. In other words, there can still be a lot of variability about the regression line. Which combination describes a regression line that is a good fit for the data?
Answer:
Larger-sq and small Se.
Explanation:
Regression line is a line that clearly describes the behavior of a given set of data.
Regression lines are very essential for forecasting processes. The importance of the line is to describe the interrelation of a dependent variable (Y variable) with one or many independent variables (X variable).
An analyst can forecast future behaviors of the dependent variable by making use of the equation gotten the regression line. This is done by inputting different values for the independent ones. Regression lines are frequently employed in the financial sector.
Financial analysts make use of linear regressions to forecast stock prices, commodity prices and also to carry out valuations for many different securities. Companies use regressions for the purpose of forecasting sales, inventories and a lot of other variables that are needed for strategy and planning. The regression line formula is represented below:
(Y = a + bX + u)
A good fit for a regression line is indicated by a small sum of squared errors, a high correlation coefficient, and the absence of significant outliers. This suggests that the line closely captures the data trend and has minimal residual variance.
Explanation:A regression line that is a good fit for the data is characterized by several key indicators. First, the line should closely follow the trend of the data points represented in a scatter plot. This means there should be a minimal amount of residual variance, which is the variance of the actual y-values from the predicted ones on the line. The strength and appropriateness of this fit can also be evaluated by looking at the correlation coefficient, commonly represented by r. A high value of r, near 1 or -1, suggests a strong linear relationship between the x and y variables and by extension a good fit by the regression line. Additionally, a small sum of squared errors (SSE) indicates that the line closely captures the pattern in the data. Lastly, if a regression line is to be considered a good fit, it should not have significant outliers, as these can distort the regression analysis and give a false representation of the data. In conclusion, a combination of a high correlation coefficient, a small SSE, and the absence of significant outliers would describe a regression line that is a good fit for the data.
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One disadvantage of relational contracting is that it may cause firms to abandon established relationships. a. True b. False
Answer:True
Explanation:
Adverse approaches to contracting in some companies have led to reduced efficient industry with lower productivity levels. However, the relational contracting approach has evidently increased the efficiency by developing partnering agreements and joints team goals and reviews that enhanced financial returns.
Barrymore Costume Company, located in New York City, sews costumes for plays and musicals. Barrymore considers itself primarily a service firm, as it never produces costumes without a preexisting order and only purchases materials to the specifications of the particular job. Any finished goods ending inventory is temporary and is zeroed out as soon as the show producer pays for the order. Overhead is applied on the basis of direct labor cost. During the first quarter of the year, the following activity took place in each of the accounts listed:
Work In Process
Bal. 17,000 Complete 245,000
DL 80,000
OH 140,000
DM 40,000
Bal. 32,000
Finished Goods
Bal. 40,000 Sold 210,000
Complete 245,000
Bal. 75,000
Overhead
138,500 140,000
Bal. 1,500
Cost of Goods Sold
210,000
Job 32 was the only job in process at the end of the first quarter. A total of 1,000 direct labor hours at $10 per hour were charged to Job 32.
Required:
1. Assuming that overhead is applied on the basis of direct labor cost, what was the overhead rate used during the first quarter of the year?
2. What was the applied overhead for the first quarter? The actual overhead? The under- or overapplied overhead?
3. What was the cost of the goods manufactured for the quarter?
4. Assume that the overhead variance is closed to the cost of goods sold account. Prepare the journal entry to close out the overhead control account on March 31. Refer to the Chart of Accounts for account titles. What is the adjusted balance in Cost of Goods Sold?
5. For Job 32, identify the costs incurred for direct materials, direct labor, and overhead.
The overhead rate used during the first quarter was $1.75 per dollar of direct labor cost accounting. The applied overhead was $17,500, the actual overhead was $140,000, and the under-applied overhead was $122,500. The cost of goods manufactured for the quarter was $169,500. The adjusted balance in Cost of Goods Sold is $211,500. For Job 32, the costs incurred are: direct materials $40,000, direct labor $10,000, and overhead $17,500.
1. To calculate the overhead rate, divide the total overhead by the total direct labor cost. In this case, the total overhead is $140,000 and the total direct labor cost is $80,000. So the overhead rate is $140,000 / $80,000 = $1.75 per dollar of direct labor cost.
2. The applied overhead can be calculated by multiplying the direct labor cost of Job 32 by the overhead rate. In this case, the direct labor cost of Job 32 is $10,000 (1,000 hours x $10 per hour) and the overhead rate is $1.75. So the applied overhead for the first quarter is $10,000 x $1.75 = $17,500. The actual overhead is $140,000, and the under-applied overhead is $140,000 - $17,500 = $122,500.
3. To calculate the cost of goods manufactured for the quarter, add the beginning work in process inventory, the direct materials used, the direct labor cost, and the applied overhead. In this case, the beginning work in process inventory is $32,000, the direct materials used is $40,000, the direct labor cost is $80,000, and the applied overhead is $17,500. So the cost of goods manufactured is $32,000 + $40,000 + $80,000 + $17,500 = $169,500.
4. The journal entry to close out the overhead control account is as follows:
Debit: Overhead Control ($1,500)Credit: Cost of Goods Sold ($1,500)The adjusted balance in Cost of Goods Sold is $211,500 ($210,000 + $1,500).
5. For Job 32, the costs incurred are:
Direct materials: $40,000Direct labor: $10,000Overhead: $17,500For more questions on Cost Accounting
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The Master Manufacturing Company has just announced a tender offer for its own common stock. Master is offering to buy up to 100% of the company's stock at $20 per share contingent on at least 64% of the outstanding shares being tendered. After the announcement of the offer, the stock closed on the NYSE up 2.50 at $18.75. If a customer had 100 shares and sold at tomorrow's opening price, what is the price that he would receive per share?
A. $18.75
B. $20.00
C. $20.50
D. $21.25
Answer:
b.$18.75
Explanation:
The customer will receive the stock at this price because master manufacturing company's stock is contingent at 64% and we are told that this is a tender offer so when master buys back the shares they wont buy at the same price in which they sold for which is $20.00 that way they wouldn't make more profit from the shares where contingency is assurance that master manufacturing can transfer 64% of the shares back.
Vintage Weaponry is owned and operated by a craftsman who makes replicas of historic firearms for museums, sportsmen, and collectors. He is currently producing 40 flintlock muskets per month. Data are as follows: Sales price per unit $800 Variable cost per unit 470 Fixed costs per month 10,230 If Vintage expects to sell 60 units per month, how much is his margin of safety expressed in sales revenue?
Final answer:
The margin of safety in sales revenue, when Vintage Weaponry expects to produce and sell 60 units per month, is calculated to be $23,200.
Explanation:
To calculate the margin of safety expressed in sales revenue, we need to find the difference between the actual or expected sales and the break-even sales. The formula to calculate the margin of safety is:
Margin of Safety = (Actual Sales – Break-even Sales).
We are given the following information:
Sales price per unit: $800Variable cost per unit: $470Fixed costs per month: $10,230Current production: 40 units/monthSince Vintage plans to produce 60 muskets a month now, we need to initially find the break-even point in units, which is the point at which total sales cover total costs (fixed and variable).
The break-even point in units is calculated by:
Break-even Point (units) = Fixed Costs / (Sales Price per Unit – Variable Cost per Unit).
Break-even Point (units) = $10,230 / ($800 - $470) = $10,230 / $330 = 31 units (approximately).
To find the break-even point in sales revenue, we multiply the break-even units by the sales price per unit:
Break-even Sales = Break-even Point (units) × Sales Price per Unit = 31 units × $800 = $24,800.
Now, we find the anticipated actual sales revenue for 60 units:
Actual Sales = 60 units × $800 = $48,000.
Finally, we calculate the margin of safety in sales revenue:
Margin of Safety = Actual Sales – Break-even Sales = $48,000 – $24,800 = $23,200.
Therefore, the margin of safety in sales revenue is $23,200.
Livro Company has three operating segments with the following information: Books Calendars Bags Sales to outsiders $ 8,650 $ 4,360 $ 6,650 Intersegment transfers 665 1,130 1,550 In addition, corporate headquarters generates revenues of $1,000. What is the minimum amount of revenue that each of these segments must generate to be considered separately reportable? (Round your answer to the nearest whole dollar.)
Answer:
minimum amount of revenue that segment of each generate separate is = $2295.5
Explanation:
given data
Bags Sales = $8,650
Bags Sales = $4,360
Bags Sales = $6,650
Intersegment transfers = 665
Intersegment transfers = 1,130
Intersegment transfers = 1,550
generates revenues = $1,000
solution
we get here total Sales to outsiders that is
total Sales to outsiders = $8,650 + $4,360 + $6,650
total Sales to outsiders = $19660
and
Intersegment transfers is = 665 + 1,130 + 1500
Intersegment transfer = 3295
so that Combined Segment Revenue is
Combined Segment Revenue = 19660 + 3295
Combined Segment Revenue = 22955
so minimum amount of revenue that segment of each generate separate is 10% Criteria is
= 10 % of 22955
minimum amount of revenue that segment of each generate separate is = $2295.5
Preferred Stock, 7%, $115 par $1,170,000 Common Stock, $1.50 par 300,000 Paid in capital in excess of par, common stock 1,200,000 Retained earnings 2.500.000 Total $5,170,000 Based on the information above, how many shares of common stock are classified as issued?
A. 1,500,000
B. 1,000,000
C. 300,000
D. 200,000
Answer:
D. 200,000
Explanation:
As per given information
Preferred Stock, 7%, $115 par $1,170,000
Common Stock, $1.50 par $300,000
Paid in capital in excess of par, common stock $1,200,000
Retained earnings $2,500,000
Total $5,170,000
As common stock is reported on the par value we can calculate the number of share by simply dividing total value with par value.
Common Stock = $300,000
Number of shares = Common stock paid in capital / Par value
Number of shares = $300,000 / $1.50
Number of shares = 200,000 shares
200,000 share are classified as issued shares.
First and foremost, I would like to thank you all for your ability to think outside the box. While it is easier said than done, you all fit the bill and remain true to form by creating marketing campaigns that pass with flying colors. As we move on to the next assignment as quick as a flash, remember that despite the turnaround speed of our projects, we can’t afford to shoot from the hip. We must stand our ground and remain the exception to the rule, producing promotions that are better than new and good to go. Last but not least, please save the date for our annual company BBQ on May 23.
Which of the following are clichés included in the preceding message? Check all that apply.
A. Stand our ground
B. The exception to the rule
C. First and foremost
D. Producing promotions
E. Better than new
F. True to form
G. Fit the bill
H. Easier said than done
I. Last but not least
Answer:
B. The exception to the rule
C. First and foremost
E. Better than new
G. Fit the bill
H. Easier said than done
I. Last but not least
Explanation:
Cliché is the colloquial term used to represent a phrase or a situation, a statement that has already been said exhaustively. These phrases were repeated so many times that they became a buzzword, something common, predictable, repeated and commonplace.
Basically, to find out which clichés are written in the text above, you just need to understand which expressions you heard a million times in your daily life. These expressions are:
The exception to the rule First and foremost Better than new Fit the bill Easier said than done Last but not leastClichés in the message include 'Stand our ground', 'First and foremost', 'The exception to the rule', 'Better than new', 'True to form', 'Fit the bill', 'Easier said than done', and 'Last but not least' (option A, C, B and E).
Explanation:The clichés included in the message are 'Stand our ground', 'First and foremost', 'The exception to the rule', 'Better than new', 'True to form', 'Fit the bill', 'Easier said than done', and 'Last but not least'. These phrases are used very frequently in day-to-day communication, hence classify as clichés. The term 'Producing promotions' does not classify as a cliché as it does not meet the definition - an overused phrase or opinion that betrays a lack of original thought.
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If you buy the stock and plan to sell it 3 years from now, what are your expected cash flows in (i) year 1; (ii) year 2; (iii) year 3? (Do not round intermediate calculations. Round your answers to 2 decimal places.)
Answer and Explanation:
Year 1 Dividend = 1.04
Year 2 Dividend = 1.08
Year 3 Dividend = 1.12
Year 3 Sale of Stock = 14.62
Year 1 Total Cash Flow = 1.04
Year 2 Total Cash Flow = 1.08
Year 3 Total Cash Flow = 15.74