Victryl Company applies overhead based on direct labor hours. At the beginning of the year, Victryl estimates overhead to be $700,000, machine hours to be 200,000, and direct labor hours to be 35,000. During February, Victryl has 5,000 direct labor hours and 10,000 machine hours.

If the actual overhead for February is $98,300, what is the overhead variance, and is it overapplied or underapplied?

a.$1,700 overapplied
b.$600 overapplied
c.$1,000 underapplied
d.$1200 underapplied
e.$800 overapplied

Answer:

$75,000

Explanation:

The targeted operating income is the difference between the targeted total sales and the budgeted total cost. The total cost is the sum of the fixed and variable cost. The sales and variable cost are dependent on the level of activities or number of units produced and sold.

The difference between the sales and variable cost gives the contribution margin.

Let the number of units sold be c

500c - 300c - 10,000 = 20,000

200c = 30,000

c = 150 units

Required revenue to earn target income is the product of the unit sales with the number of units sold

= $500 × 150

= $75,000

Answer:

$75,000 sales revenue

Explanation:

We solve using the target profit formula:

[tex]\frac{Fixed\:Cost + Target Profit }{Contribution \:Margin} = Units for Profit[/tex]

Where:

[tex]Sales \: Revenue - Variable \: Cost = Contribution \: Margin[/tex]

We divide the fixed cost and the target profit over the amount of contribution generate for each unit:

500 sales price - 300 variable cost = 200

Now:

[tex]\frac{10,000 + 20,000 }{200} = Units for Profit[/tex]

150 units

Last, we multiply by the sales revenue per unit:

150 units x $500  = $75,000

Answer: Knowledge function of attitudes

Explanation:

Knowledge function of attitude helps with the decision making process. Knowledge helps customers make a buying decision based off of what they know about the products and brands they are buying. For example, as a consumer I am an exclusive apple product user. If apple comes out with a product, I trust their quality based off the other products I already own. Because I have the knowledge of my apple products, I can make a simple decision on any future apple products I would want

Answer:

The correct answer is letter "B": knowledge function of attitudes.

Explanation:

American psychologist Daniel Katz (1903-1998) proposed there are four (4) functions of attitudes: Adjustment Function, Ego-Defensive Function, Value-Expressive Function, and Knowledge Function.

The Knowledge Function of attitudes represents individuals' needs for having a consistent and stable source of information. It helps them perceive the world as "more understandable", therefore predictable. The absence of this type of function creates individuals to be reluctant over a certain matter.

Thus, Karen Bates's example relates the reluctant Knowledge Function of attitudes since she predictably gifted her daughter a vehicle from the brand she has always purchased from.

Answer:

tax-rate 32.73%

Explanation:

The municipal bonds are tax-free thus, the private corporate bond is a pre-tax yield. We should solve for thetax rate which makes the 6.16% private bond yield 4.11% after tax:

0.0611 x ( 1 - t ) = 0.0411

t = 1 - 0.0411/0.0611 = 0,32733224

Being taxed at 32.73% will make the investor indifferent between these two options.

Answer:

1.6

Explanation:

In this question, we use the operating leverage factor that is shown below:

Operating Leverage Factor = Contribution ÷ Operating Income

where,

Contribution = Operating income + monthly fixed expenses

                     = $25,000 + $15,000

                     = $40,000

And, the operating income is $25,000

So, the operating leverage factor is

= $40,000 ÷ $25,000

= 1.6

The operating leverage factor is 1.6

Operating Leverage Factor = Contribution ÷ Operating Income

Here

Contribution = Operating income + monthly fixed expenses

                    = $25,000 + $15,000

                    = $40,000

And, the operating income is $25,000

So, the operating leverage factor is

= $40,000 ÷ $25,000

= 1.6

Learn more about income here: https://brainly.com/question/17961582?referrer=searchResults

Final answer:

If the temperature on April 12 is between 35 and 50 degrees, the probability that it will rain, based on historical data, is 20/25, which simplifies to 4/5 or an 80% chance.

Explanation:

The question asks about the probability of rain given a specific temperature range. If historically April experiences rain on 20 days with temperatures between 35 and 50 degrees, and there are 25 days in April with temperatures in that range, one can assume these temperatures are a prerequisite for rain. If it is between 35 and 50 degrees on April 12, the probability that it will rain on that day can be calculated by dividing the number of rainy days within that temperature range (20 days) by the total number of days with that temperature range (25 days).

Thus, the probability that it will rain is 20/25, which simplifies to 4/5 or 0.80. Therefore, there is an 80% chance that the players will get wet during the golf tournament if the temperature is between 35 and 50 degrees.

Answer:

A materials requisition slip showed that direct materials requested were $58,000 and indirect materials requested were $9,000. The entry to record the transfer of materials from the storeroom is

D) Work In Process Inventory            $58,000

     Manufacturing Overhead              $9,000

    Raw Materials Inventory              $67,000

Gannon Company had the following information at December 31:

Finished goods inventory, January 1 $ 30,000

Finished goods inventory, December 31 90,000

If the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is

  C) $450,000

Sales                                                              $1,650,000

Cost of goods sold

===============

Cost of goods manufactured   $1,260,000

Add: Beginning FG inventory       $30,000

Goods available for sale         $1,290,000

Less : Ending FG inventory         $90,000           $1,200,000

Gross profit                                                        $450,000

Explanation:

Answer:

The correct answer is letter "A": Not work.

Explanation:

The case proposes having sales agents request managers for discount thresholds every time a salesperson is trying to give customers promotions since there is only one source of information. It will be a better idea to have a set threshold for every product offered in the store so sales agents would know the limits of prices they can offer as discounts.  

Thus, the idea of requesting managers for discounts in every sale is unlikely to work.

Answer:

Explanation:

At the break-event the profit is zero, or the total costs equal the revenue.

1. Revenue

Revenue, R(x), is the product of the price by the number of units sold (x).

2. Cost

The cos, C(x) is the sum of the fixed costs and the variable cost. The variable cost is the product of the variable cost per unit and the number of units sold:

3. Break-even

Make the equation R(x) = C(x) and solve:

4. Calculate the revenue with 6,442.64 units:

Answer:

yield on 2 year treasury = 5.63 %

Explanation:

given data

real risk-free rate = 2.25 %

Inflation rate year 1 = 2.5 %

Inflation rate year 2 = 4.25 %

solution

we get here average inflation rate is

average inflation rate = [tex]\frac{2.5+4.25}{2}[/tex]   ...........1

average inflation rate = 3.38 %

so here yield on 2 year treasury

yield on 2 year treasury = real risk-free rate + average inflation rate + MRP   ...............2

yield on 2 year treasury = 2.25 % + 3.38 % + 0%

yield on 2 year treasury = 5.63 %

Answer:

Therefore the required time period is 3 years.

Explanation:

To calculate the number of period we are using the following formula of future value

Future value = [tex]C_0(1+r)^n[/tex]

[tex]C_0[/tex] is cash flow at period 0= $ 35,00

r = rate of interest = 8.00% = 0.08

n= number of periods = ?

Future value = $44,089.92

Substituting the values in the formula

[tex]44,089.92= 35,000(1+0.08)^n[/tex]

[tex]\Rightarrow (1+0.08)^n=\frac{44089.92}{35000}[/tex]

[tex]\Rightarrow(1.08)^n = 1.259712[/tex]

[tex]\Rightarrow (1.08)^n=(1.08)^3[/tex]

[tex]\therefore n= 3[/tex]

Therefore the required time period is 3 years.

Answer: a practice in which executives get out of their offices and learn from others in the organization through casual face-to-face dialogue.

Explanation: Management by walking around (MBWA) refers to a practice in which executives get out of their offices and learn from others in the organization through casual face-to-face dialogue.

In this management style, executives pay casual, unplanned visits to staff in their work areas to understand their work environment, experience first hand their status reports instead of waiting for them to be delivered to their office. Management by walking around fosters a better work environment through better communication, a hands-on experience of the conditions of the workplace by managers as well as quick and effective problem solving.

To create the T-account balance sheet, we list the bank's reserves, loans, and government bonds as assets, and the deposits as liabilities. Subtracting the liabilities from the assets, we find the net worth to be $220.

To set up a T-account balance sheet for the bank, we must list the bank's assets on one side and the liabilities and net worth (equity) on the other. The assets of the bank include its reserves and any loans it has made or government bonds it has purchased. The liabilities are primarily the deposits from customers. Net worth is calculated by subtracting total liabilities from total assets.

Bank's T-Account Balance Sheet:

Assets:

Liabilities:

To calculate the bank's net worth, subtract the total liabilities from the total assets:

Total Assets = Reserves + Loans + Government Bonds = $50 + $500 + $70 = $620

Total Liabilities = Deposits = $400

Net Worth = Total Assets - Total Liabilities = $620 - $400 = $220

Answer:

Cost of the inventory kept by Zephron Music is $3495

Explanation:

Zephron Music purchased inventory for $4,400 and also paid a $260 freight bill

Inventory $4660 (debit)

Trade Payable $ 4400 (credit)

Bank $260 (credit)

Recognise an Asset - Inventory and De-recognise asset - Bank

Zephron Music returned 25​% of the goods to the seller, took a 1​% purchase discount

Trade Payable $1212

Inventory $1165 (credit)

Discount Received $47 (credit)

Therefore Inventory Balance = $4660-1165 = $3495

Final answer:

Zephron Music’s final cost of the inventory that it kept is calculated by adding freight charges to the initial purchase cost, subtracting the cost of returned goods, and applying a purchase discount before rounding to the nearest whole number, resulting in $3,524.

Explanation:

To calculate Zephron Music’s final cost of the inventory kept after purchasing, returning a portion, and receiving a purchase discount, we follow these steps:

Performing these calculations we have:

Answer:

Explanation:

Dr Accounts Receivable 30,000

Cr Sales Revenue 46,320

Cr Service revenue 340

Dr Cost of goods sold 16,660

Answer:

Index value is $79

Explanation:

Index value calculation comes from the prices of the underlying holdings. Most indices have values based on market-cap weighting, revenue-weighting, float-weighting, and fundamental-weighting.

For index calculations, weighted average mathematics is used as values are derived from a weighted average calculation of the value of the total portfolio. As such, price-weighted indexes will be more greatly impacted by changes in holdings with the highest price, market cap weighted indexes will be most greatly impacted by changes in the largest stocks, and so on depending on the weighting characteristics.

Price index = average of share prices

Price index = [tex]\frac{37+115+85}{3}=\frac{237}{3} =79[/tex]

Price index = $79

The index value of a price-weighted index made up of three stocks with prices of $37, $115, and $85 is calculated by summing the prices and dividing by the number of stocks, resulting in an index value of $79.

To construct a price-weighted index of the three stocks with share prices of $37, $115, and $85, you would first sum the prices of the stocks. The formula for a price-weighted index is the sum of the stock prices divided by the number of stocks, which in this case is 3.

Sum of stock prices = $37 + $115 + $85 = $237

Then, you divide this sum by the number of stocks to get the index value:

Index value = $237 / 3 = $79

Therefore, the index value for these three stocks would be $79.

Answer: collectivism

Complete Question:

Cedric, a brand manager, transferred from the united States to japan He discovered that although people in the United States highly valued individualism, people in Japan expect individuals to conform to group expectations. Cedric concluded that Japan places more of an emphasis on:

Explanation: Collectivism values the group over individuals belonging to the group. In cultures where collectivism is the norm, individuals tend to want to conform to the group expectations. Also, it is common for individuals in collectivist societies to define themselves as belonging to a group than as individuals so groups are a way of identifying themselves.  

While individualism values individuals's right and uniqueness, collectivism does not  but sees value in maintaining the cohesion in a group, which in turn promotes conformity.

Answer:

The car that arrives at 10 AM will have to wait for at least 1 hour before it is washed.

Explanation:

First of all, let us lay out the important points:

at 9 AM; 10 cars were already waiting

arrival rate = 20 cars per hour

wash rate = 15 cars per hour.

New car arrives at 10 AM

From the statements above, if 20 cars arrive every hour, it can be inferred that between 9 AM to 10 AM, the number of new cars that arrive = 20 cars.

But remember that before the car was opened, 10 cars were already waiting in line, therefore the total number of cars that arrived between 9 AM and 10 AM = 20 + 10 = 30 cars.

We are also told that the rate of wash of the cars are; 15 cars every hour. Therefore between 9 AM and 10 AM which is 1 hour, 15 out of 30 cars were washed, leaving 15 more cars unwashed. To wash this 15 remaining cars, another hour will pass, so by 11 AM, the cars that arrived between 9 AM and 10 AM will be completely washed. hence the car that arrived at 10 AM, will wait till 11 AM in order to be washed, which is a wait time of 1 hour.

Final answer:

A new car arriving at the ABC car wash at 10 AM, given the existing backlog and the rates of arrival and servicing, should expect to wait about 4 hours before it is washed.

Explanation:

Calculating Waiting Time for a Car Wash

When ABC car wash opened at 9 AM, there were already 10 cars waiting. New cars arrive at an average rate of 20 cars per hour, and the car wash can handle an average rate of 15 cars per hour. For a new car arriving at 10 AM, to calculate its expected waiting time, we must consider both the initial backlog and the rate of incoming cars vs. the car wash rate.

By 10 AM, in one hour, the car wash would have serviced 15 of the initial 10 cars, clearing the initial queue and starting on cars that have arrived since opening. However, during that hour, 20 new cars have arrived, creating a backlog. This backlog continues to grow every hour since the arrival rate (20 cars/hour) is higher than the service rate (15 cars/hour).

The difference in arrival and service rates is 5 cars/hour. The car arriving at 10 AM is effectively the 20th car in line at that moment. We must calculate how long it will take to clear the queue ahead, considering the growing backlog. It requires solving the equation for when the service rate will catch up to the arriving car's position in the queue.

To find the exact waiting time:

Service rate deficit: 5 cars/hour.

Queue position of new arrival: 20th.

Hours to service 20 cars at a deficit of 5 cars/hour = 20 / 5 = 4 hours.

Thus, a car arriving at 10 AM should expect to wait 4 hours before being serviced.

Answer:

Tapered integration

Explanation:

Tapered integration is a term in organization theory that is a mix of market exchange and vertical integration. Advantages of vertical integration include risk protection, motivation tool for market and internal division, enlargement of input channels with little capital outlays,

the use of information on internal cost to discuss contracts with market.

Its disadvantages are monitoring issues, inefficiency and minimal production.

Answer:

1.

Tinkers:

PVA = $20,000 × 7.19087* = $143,817

*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)

PV = $143,817 × 0.81162* = $116,725

*Present value of $1: n = 2, i = 11% (from PV of $1)

Evers:

PVA = $25,000 × 7.19087* = $179,772

*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)

PV = $179,772 × 0.73119* = $131,447

*Present value of $1: n = 3, i = 11% (from PV of $1)

Chance:

PVA = $30,000 × 7.19087* = $215,726

*Present value of an ordinary annuity of $1: n = 15, i = 11% (from PVA of $1)

PV = $215,726 × 0.65873* = $142,105

*Present value of $1: n = 4, i = 11% (from PV of $1)

Answer:

The question is not completed but the complete question is in the explanation section below and the solution is attached in the pictures.

Explanation:

Three employees of the Horizon Distributing Company will receive annual pension payments from the company when they retire. The employees will receive their annual payments for as long as they live. Life expectancy for each employee is 14 years beyond retirement. Their names, the amount of their annual pension payments, and the date they will receive their first payment are shown below: (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Employee Annual Payment Date of

First

Payment

Tinkers $ 27,000 12/31/24

Evers $ 32,000 12/31/25

Chance $ 37,000 12/31/26

Answer:

According to generally accepted accounting principles, inventoriable cost per unit of Big would be $17.00

Explanation:

Absorption Costing method is suitable for external reporting purposes and thus preferred in reporting According to the generally accepted accounting principles (GAAP)

Absorption Costing Includes Both Fixed and Variable Manufacturing Overheads in Product Costings Calculations

Calculation of Inventory  Cost per Unit According to Absorption Costing:

Direct material                                                                       2.00

Direct labor                                                                            8.00

Variable Manufacturing Overhead                                       3.00

Fixed Manufacturing Overhead ($24,000/6,000)              4.00

Inventory Cost per Unit                                                        17.00

Answer:

Total cost of house is $170,000

Total loan to be taken = 170,000 x (1 - 0.20) = $136,000

Current annual Interest rates = 6.5%, current monthly interest rate = 6.5% / 12= 0.5417%

number of monthly periods = 30 * 12 = 360

Monthly installment (payment) on loan = $860 (859.6)

If interest rate increases by 0.5% to 7%, Monthly interest rate = 7%/12 = 0.583%

using excel formula,

Monthly installment for new monthly interest rate of 0.583% =PMT(0.583%,360,-136000,0)

New Monthly payment = $904.8

Increase in monthly mortgage payment = 904.8 - 859.6

Increase in monthly mortgage payment = $45.2

They will have around $45 additionally on monthly mortgage payment if interest increase by 0.5% to 7%

Answer:

Explanation:

Calculation of items needed for construction of budget:

During May, the company’s activity was actually 240 diving-hours. So all items should be calculated with 240 diving-hours instead of 250.

Revenue = Revenue per diving hour* Diving hours = 440*240 = $105,600

Wages and salaries = $11,800+$128*240 = $42,520

Supplies = $3*240 = $720

Equipment rental = $2100 + $22*240 = $7380

Miscellaneous = $530 + $1.48*240 = $885

Flexible budget

For the month ended May 31

Revenue 105,600

Less: Expenses

Wages and salaries (42,520)

Supplies (720)

Equipment rental (7380)

Miscellaneous (885)

Insurance (4000)

Total expenses 55,505

Net income 50,095

Explanation:

The Journal entry is given below:-

1 January 2020             No Entry

31 December 2020       Compensation Expense Dr,         6,580

                                              To, Paid-In-Capital                         6,580

(Being the compensation expense stock-option plan is recorded)

Working Note:-

Compensation Expense

= $7 × 4,700 ÷ 5

= $7 × 940

= $6,580

A clothing retail company should opt for a CRM system over a traditional marketing research approach as it provides real-time data analytics, enables effective customer segmentation, and offers scalability and flexibility to adapt to market changes.

A clothing retail company considering whether to use a traditional marketing research project approach or implement a CRM system should lean towards the latter for several reasons. Firstly, a CRM (Customer Relationship Management) system provides real-time data and analytics which can guide more informed decisions. This system can track customer behavior, preferences, and interactions with the brand across multiple channels, providing a holistic view of the customer journey. Secondly, a CRM system enhances the ability to segment customers based on varied criteria, facilitating more targeted and personalized marketing strategies. Using detailed customer profiles, the company can tailor their communications and promotions to meet specific customer needs. Lastly, CRM systems are designed for scalability and flexibility, enabling the company to easily adapt to changes in the market or in customer behavior without the need for starting new research projects from scratch. This adaptability is crucial in today's fast-paced retail environment in which trends and consumer preferences can shift rapidly. Overall, a CRM system can offer a dynamic and comprehensive approach to crafting a marketing strategy that is responsive to customers' evolving demands.

Answer:

3.73 cents

Explanation:

Margin call occurs when the account loses more than $ 560  ($ 1960 - $ 1400).

The change in price that will lead to a margin call = Y cent × 15000 pounds = $ 560

Y cents = $ 560 / 15000 = 3.73 cents  

the future price must drop more than 3.73 cents from 136 cents to below 132.3 cents

Answer:

The correct answer is:

$317,460 (D.)

Explanation:

At the end of sales, after deducting the 5.5% commission of broker fee, the amount left as net value = $300,000. It can also be said that the total amount will be $300,000 + 5.5% of the total amount.

Let the price which the home is to be sold be "X"

From the statement above, the equation below can be written:

$300,000 + (5.5% of X) = X

X - (5.5% of X) = $300,000

Note that 5.5% of X = 5.5/100 × X = 0.055X

∴ X - (5.5% of X) = $300,000

= X - 0.055X = 300,000

0.945X = 300,000

X = [tex]\frac{300,000}{0.945} = 317,460.31[/tex]

= $317,460 (to the nearest dollars)

Final answer:

To clear a net value of $300,000 after paying a 5.5% commission, the home must be sold for about $317,460, which is the amount obtained by dividing the desired net by 0.945, accounting for the retained percentage after commission.

Explanation:

To determine the selling price of the home to clear a net value of $300,000 after paying a 5.5% broker commission, you need to set up an equation to account for the commission. Let's call the selling price P. The equation to represent this scenario is P - 0.055P = $300,000. Solving this equation for P will give us the required selling price to achieve the net value desired.

First, we can rewrite the equation as P(1 - 0.055) = $300,000. Doing the math, we get P = $300,000 / 0.945, which equals approximately $317,460. Therefore, the home must be sold for about $317,460 to meet the net profit after commission.

Following are the calculations to get the precise answer:

First, we calculate the percentage that the homeowner will receive after commission, which is 100% - 5.5% = 94.5%.

We then express the percentage as a decimal for calculation: 94.5% = 0.945.

Finally, we divide the desired net amount by the percentage the homeowner keeps: $300,000 / 0.945 = $317,460.05, which rounds to $317,460.

Therefore, the correct answer is D. $317,460.

Solution:

Jan 01, 2018

Cash                                        $452,737

bonds payable                        $452,737

June 30,2018

Interest expense                      13,655

bonds payable                          1055

cash                                          12600

Dec 31,2018

Interest expense                     13,692

bonds                                       12600

Final answer:

In a 100% reserve banking system, the money supply will increase by the same amount as the increase in bank reserves. In a fractional reserve banking system with a desired reserve deposit ratio, the money supply can be calculated using the money multiplier.

Explanation:

In a 100% reserve banking system, the money supply will increase by the same amount as the increase in bank reserves. So, if the central bank of Alpha raises bank reserves by $100, the money supply will also increase by $100.

In a fractional reserve banking system with a desired reserve deposit ratio of 0.25, the money supply can be calculated using the money multiplier. The money multiplier is the reciprocal of the reserve deposit ratio. In this case, the money multiplier would be 1/0.25 = 4. So, if the central bank of Alpha raises bank reserves by $100, the money supply will increase by $100 x 4 = $400.

Answer:

$200

Explanation:

Total variable cost = average variable cost × quantity

$2 × 100 = $200

Variable cost is cost that varies with production.

If production increases, variable cost increases and if production reduces, variable cost falls. E.g. cost of Labour

Fixed cost is cost thay does not vary with production e.g. rent

I hope my answer helps you

Based on the per unit variable costs of Cindy's Car Wash, the firm's total variable costs are B. $200.

Cindy's Car Wash incurs a variable cost of $2 per car wash.

If there are a 100 car washes, the total variable costs would be:

= Variable cost per wash x Number of washes

Solving gives:

= 2 x 100

= $200

Find out more on variable costs at https://brainly.com/question/5965421.

Kelvin's supply of labor over this wage range is 3.80

Explanation:

This is Price elasticity supply issue, and wages / hours are independent variables.

Price elasticity of supply tests the response to the supply of a product or service following a shift in its market price. The supply of a good will increase as its prices rise according to basic economic principles. On the other hand, when its price declines, goodwill supplies decline

So, PES ( Kevin's labor) = {(10-7)/[(10+7)/2)} /{(50-40)/[(50+40)/2]}

                                       = 24.75/6.5 = 3.80