Answer:
direct materials = $33.00
conversion cost = $90.00
Explanation:
Cost per equivalent unit = Cost during the period ÷ Equivalent units of Production
The direct materials and conversion cost per equivalent unit.
Direct materials = $1,098,900 ÷ 33,300 liters = $33.00
Conversion cost = $603,000 ÷ 6,700 liters = $90.00
in the united states ,dollar bills, , and dimes are representative money
Answer:
In the United States, dollar bills, nickels, and dimes are Representative money It can be exchanged for a valuable good, was used in systems involved a "gold standard", and can be traded for a commodity such as silver.
You are the manager of a pizzeria that produces at a marginal cost of $6 per pizza. The pizzeria is a local monopoly near campus (there are no other restaurants or food stores within 500 miles). During the day, only students eat at your restaurant. In the evening, while students are studying, 3 faculty members eat there. If students have an elasticity of demand for pizzas of -4 and the faculty has an elasticity of demand of -2, what should your pricing policy be to maximize profits?
Answer:
since the price elasticity of demand for students is -4, the the price charged to them should be:
price = [-4 / (-4 + 1)] x $6 = (-4 / -3) x $6 = $8
since the price elasticity of demand for faculty is -2, the the price charged to them should be:
price = [-2 / (-2 + 1)] x $6 = (-2 / -1) x $6 = $12
Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $226,800 of raw materials on credit; issued materials to production of $219,000 of which $37,200 were indirect. Minstrel incurred a factory payroll of $164,400, of which $47,200 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% of direct labor cost. Minstrel's beginning and ending Work in Process Inventory are $17,900 and $31,800 respectively. Compute the cost of jobs transferred to Finished Goods Inventory.
Answer:
$460,900
Explanation:
The computation of the cost of jobs transferred to Finished Goods Inventory is shown below:
= beginning wip + Direct material + direct labor + manufacturing overhead - closing wip
= $17,900 + ($219,000 - $37,200) + ($164,400 - $47,200) + 150% of $117,200 - $31,800
= $17,900 + $181,800 + $117,200 + $175,800 - $31,800
= $460,900
Julie was suffering from a viral infection that caused her to miss work for 90 days. During the first 30 days of her absence, she received her regular salary of $8,000 from her employer. For the next 60 days, she received $12,000 under an accident and health insurance policy purchased by her employer. The premiums on the health insurance policy were excluded from her gross income. During the last 30 days, Julie received $6,000 on an income replacement policy she had purchased. Of the $26,000 she received, Julie must include in gross income:______.
Answer:
$20,000
Explanation:
Calculation for what Julie must include in gross income:
Amount included in gross income= $26,000-$6,000
Amount included in gross income=$20,000
Therefore based on the information given Julie must include in gross income the amount of $20,000
Which methods can be used to run a query? Check all that apply.
On the Create tab, in the Queries group, click Run.
In query Design view, on the Design tab, click Run.
Switch to Datasheet view before any other commands.
Close the Show Table dialog box in the Datasheet view.
On the Create tab, in the Queries group, click Create Query.
Answer:
Option B and C
Explanation:
A query can be run by selecting query option visible through deign view option. After selecting the appropriate option, the query must be run. This shall execute the function for the selected option.
Like wise in data sheet view, one can see the action query before running it.
Hence, option B and C are correct
Answer:
B) In query Design view, on the Design tab, click Run.
C) Switch to Datasheet view before any other commands.
Explanation:
Which aspect of production planning might make use of a Gantt chart?
A.
routing
B.
loading
C.
scheduling
D.
dispatching
E.
inspection
Saginaw Inc. completed its first year of operations with a pretax loss of $692,500. The tax return showed a net operating loss of $884,500, which the company will carry forward. The $192,000 book–tax difference results from excess tax depreciation over book depreciation. Management has determined that it should record a valuation allowance equal to the net deferred tax asset. Assuming the current tax expense is zero, prepare the journal entries to record the deferred tax provision and the valuation allowance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Answer:
Missing word "Tax rate is 34 percent"
Date Particulars Debit Credit
Deferred tax asset (884,500*34%) $300,730
Deferred tax benefit $300,730
(To record the deferred tax consequences of the current year NOL)
Deferred tax asset (192,000*34%) $65,280
Deferred tax benefit $65,280
(To record the deferred tax consequences of the depreciation)
Gibson Corp. owned a 90% interest in Sparis Co. Sparis frequently made sales of inventory to Gibson. The sales, which include a markup over cost of 25%, were $420,000 in 2017 and $500,000 in 2018. At the end of each year, Gibson still owned 30% of the goods. Net income for Sparis was $912,000 during 2018. Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, what was the net income attributable to the noncontrolling interest for 2018
Answer:
$907,200
Explanation:
Calculation for the net income attributable to the noncontrolling interest for 2018
First step is to calculate the Gross profit rate
Using this formula
Gross profit rate = gross profit + COGS = GPR/ (1-GPR)
Let plug in the formula
Gross profit rate= 25%/(1+25%) = 0.2
intra-entity gross profit = Transfer price x GPR (0.2)
Gross Profit 2017= $84,000 x 30%
Gross Profit 2017= $25,200;
Gross Profit 2018= 100,000 x 30%
Gross Profit 2017= $30,000
Now let calculate 2018 net income attributable to the noncontrolling interest Using this formula
2018 net income attributable to the noncontrolling interest =Subsidiary’s net income + Intra-entity Gross Profit in Ending Inventory for 2017 – Intra-entity grossprofit in 2018 inventory deferred x noncontrolling interest
2018 net income attributable to the noncontrolling interest = ($912,000) + ($25,200) – ($30,000) *10%
= $907,200
Therefore the net income attributable to the noncontrolling interest for 2018 is $907,200
you recently increased you're spending on marketing by 10%. you now spend 5500 per month. revenue increase by 1000 per month and you're gross margin percentage is 70%. All other expenses stayed consant. Did the increase pay off?
Answer:
Answer is yes
Explanation:
Michael's Machine Shop reports the following information for the quarter.
Sales price $70
Fixed costs (for the quarter)
Selling and administrative 47,620
Production 142,860
Variable cost (per unit)
Materials 18
Labor 15
Plant supervision 8
Selling and administrative 9
Number of units (for the quarter) 23,810 units
Required:
Select the answer for each of the following costs.
a) Variable cost per unit.
b) fixed cost amount
c) breakeven point
d) expected sales
Answer:
Results are below.
Explanation:
First, we need to calculate the variable cost per unit:
Variable cost per unit= Materials + Labor + Plant supervision + Selling and administrative
Variable cost per unit= 18 + 15 + 8 + 9
Variable cost per unit= $50
Now, the fixed cost:
Fixed costs= Selling and administrative + Production
Fixed costs= 47,620 + 142,860
Fixed costs= $190,480
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 190,480 / (70 -50)
Break-even point in units= 9,524
Finally, the expected sales:
expected sales= 23,810*70
expected sales= $1,666,700
how important is the value of a product for a customer
Answer:
very important
Explanation:
define return( rate of return).
Answer:
its returning the rate that was given out
i guess i jus gave it a try
define private equity funds economics.
Answer:
Private equity is an alternative investment class and consists of capital that is not listed on a public exchange. Private equity is composed of funds and investors that directly invest in private companies, or that engage in buyouts of public companies, resulting in the delisting of public equity.
When an import tariff is imposed on an intermediate good, producers of this immediate good in the nation will ____________ while the producers that use the intermediate good as an input will ________. Get better off, get better off Get better off, get worse off Get worse off, get better off Get worse off, get worse off
Answer:
get better off
get worse off
Explanation:
Import are goods or services produced in other countries that are brought into a country.
Import tariff is a form of tax imposed on imported goods. import tariff increases the price of import. the purpose of import is to discourage import
Intermediate good are goods used in the production of finished. An example of an intermediate good is raw materials
When an import tariff is imposed on an intermediate good, producers that use the intermediate goods would be worse off because the price of intermediate goods needed for production would increase as a result of the tariff. This would increase their cost of production and reduce their profit margins
While the producers of the intermediate good in the country would be better off because they would face less foreign competition. Also, they would benefit from the increased price of the intermediate good. This would increase their profit margins.
On January 1, Smith Industries leased equipment to a customer for a four-year period, at which time possession of the leased asset will revert back to Smith. The equipment cost Smith $425,000 and has an expected useful life of six years. Its normal sales price is $425,000. The residual value after four years is $100,000. Lease payments are due on December 31 of each year, beginning with the first payment at the end of the first year. The interest rate is 8%. Calculate the amount of the annual lease payments. (Round your answer to the nearest whole dollar.)
Answer:
The amount of the annual lease payments is $98,124.
Explanation:
This can be calculated using the formula for calculating loan amortization as follows:
P = (A * (r * (1 + r)^n)) / (((1+r)^n) - 1) .................................... (1)
Where,
P = Annual lease payments = ?
A = Amount to be recovered through periodic lease payments = Equipment cost - Residual value = $425,000 - $100,000 = $325,000
r = interest rate = 8%, or 0.08
n = Number of years of lease term = 4
Substituting all the figures into equation (1), we have:
P = ($325,000 * (0.08 * (1 + 0.08)^4)) / (((1+0.08)^4) - 1)
P = $98,124.2614475627
Rounding to the nearest whole dollar as required, we have:
P = $98,124
Therefore, the amount of the annual lease payments is $98,124.
Doe, Inc. purchased a bulldozer at a cost of $300,000. The bulldozer has an estimated residual value of $20,000 and an estimated life of 10 years, or 15,000 hours of operation. The bulldozer was purchased on January 1, 2020 and was used 500 hours in 2020 and 3,000 hours in 2021. What method of depreciation will produce the maximum depreciation expense in 2021
Answer:
48,000
56,000
the unit of production method
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
($300,000 - $20,000) / 10 = $28,000
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life)
Depreciation in 2021 = 2/10 x $300,000 = $60,000
Book value in 2022 = $240,000
Depreciation in 2022 = 48,000
Unit of production = number of hours in 2022 / total number of hours) x (cost of asset -- savlage value)
Ramon and Sammy are working on a group homework assignment. The homework consists of a set of essay questions and a set of questions on graphing models. Ramon can finish an essay question in about 15 minutes and a graphing question in about 30 minutes. Sammy can finish an essay question in about 20 minutes and a graphing question in about 35 minutes. Assume that Ramon and Sammy produce the same quality answers. Calculate Ramon and Sammy's opportunity cost of each task. Please round each answer to the nearest tenth.
Answer and Explanation:
The computation is shown below:
It is given that Ramon would completed an essay question in approx 15 minutes and for graphing question it finished approx 30 minutes
On the other hand Sammy would completed an essay question in approx 20 minutes and for graphing question it finished approx 35 minutes
a) Ramon's opportunity cost of completing an essay question is
= 15 ÷30
= 0.5 graphing question
b) Ramon's opportunity cost of completing a graphing question is
= 30 ÷ 15
= 2 essay question
c) Sammy's opportunity cost of completing an essay question is
= 20 ÷ 35
= 0.57 graphing question
d) Sammy's opportunity cost of completing a graphing question is
= 35 ÷ 20
= 1.75 essay question
Bedrock Company reported a December 31 ending inventory balance of $414,500. The following additional information is also available: The ending inventory balance of $414,500 included $73,700 of consigned inventory for which Bedrock was the consignor. The ending inventory balance of $414,500 included $25,400 of office supplies that were stored in the warehouse and were to be used by the company's supervisors and managers during the coming year. Based on this information, the correct balance for ending inventory on December 31 is:
Answer:
$389,100
Explanation:
Calculation to determine what the correct balance for ending inventory on December 31 is:
Using this formula
Ending inventory on December 31=Ending inventory balance-Office supplies
Let plug in the formula
Ending inventory on December 31=$414,500- $25,400
Ending inventory on December 31=$389,100
Therefore the correct balance for ending inventory on December 31 is:$389,100
The following transactions occur for Cardinal Music Academy during the month of October: a. Provide music lessons to students for $9,000 cash. b. Purchase prepaid insurance to protect musical equipment over the next year for $3,240 cash. c. Purchase musical equipment for $12,000 cash. d. Obtain a loan from a bank by signing a note for $14,000. Record the transactions. The company uses the following accounts: Cash, Prepaid Insurance, Equipment, Notes Payable, and Service Revenue.
Answer:
Part a
Debit : Cash $9,000
Credit : Service Revenue $9,000
Part b
Debit : Prepaid Insurance $3,240
Credit : Cash $3,240
Part c
Debit : Equipment $12,000
Credit : Cash $12,000
Part d
Debit : Cash $14,000
Credit : Loan Payable $14,000
Explanation:
Step 1 : Identify the Accounts affected in each and every transaction.
Step 2: Then determine if this Account is increasing or decreasing.
Step 3 :The journal entries have been prepared above.
One example of a job benefit is:
a) Salary
b) Uniforms and supplies
c) Health insurance
d) Flexible hours
Answer:
c
explanation:
Answer:
it would be C) health insurance.
Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 35 billion bottles of wine were sold every year at a price of $7 per bottle. After the tax, 29 billion bottles of wine are sold every year; consumers pay $8 per bottle (including the tax), and producers receive $4 per bottle. The amount of the tax on a bottle of wine is $1 per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been smaller if the tax had been levied on producers.
Answer:
1. The amount of tax on a bottle of wine is $4.
2. The tax burden on consumers is $1.
3. The tax burden on producers is $3.
4. The effect on the tax on the quantity sold would have been smaller if the tax had been levied on producers.
False.
Explanation:
a) Data and Calculations:
Before the tax, the number of bottles of wine sold every year at $7 per bottle = 35 billion bottles
After the tax, the number of bottles of wine sold every year at $8 per bottle = 29 billion bottles
Therefore, there is a reduction of 6 billion bottles as a result of the increased price of $1 per bottle (from $7 to $8).
The price received by producers = $4 per bottle
Therefore, there is a total tax of $4 ($8 - $4)
Consumers bear $1 ($8 - $7)
Producers bear $3 ($7 - $4)
The effect of the tax would have still increased the price to $8 or more. Thus, if the tax had been levied on producers, the quantity of bottles sold would have reduced drastically.
Flash City Inc. manufactures small flash drives and is considering raising the price by 75 cents a unit for the coming year. With a 75-cent price increase, demand is expected to fall by 7,000 units. Current Projected Demand 78,000 units 71,000 units Selling price $9.00 $9.75 Incremental cost per unit $6.80 $6.80 Would you recommend the 75-cent price increase
Answer:
Yes, reason been that operating profits increase
Explanation:
Calculation to determine whether
Incremental analysis you would recommend the 75-cent price
Current Projected
Incremental revenue $702,000 $692,250
(78,000 units*$9.00=$702,000)
(71,000*$9.75=$692,250)
Incremental cost -$537,200 -$482,800
(78,000 units*$6.80=$537,200)
(71,000*$6.80=$482,800)
Incremental Profit (loss) $164,800 $209,450
($702,000-537,200)
($692,250-$482,800)
Profit increase by($209,450 -$164,800)
Profit increase by= $44,650
Based on the above calculation I would recommend the 75-cent price increase reason been that operating profits increase.
Delisa Corporation has two divisions: Division L and Division Q. Data from the most recent month appear below: Total Company Division L Division Q Sales $490,000 $125,000 $365,000 Variable expenses 288,800 62,500 226,300 Contribution margin 201,200 62,500 138,700 Traceable fixed expenses 111,650 34,790 76,860 Segment margin 89,550 $ 27,710 $ 61,840 Common fixed expenses 36,910 Net operating income $ 52,640 The break-even in sales dollars for Division Q is closest to:
Answer:
Break-even point (dollars)= $202,263.16
Explanation:
Giving the following information:
Division Q:
Sales= $365,000
Total variable costs= 226,300
Fixed costs= 76,860
To calculate the break-even point for Division Q, we need to use the following formula:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Break-even point (dollars)= 76,860 / [(365,000 - 226,300) / 365,000]
Break-even point (dollars)= 76,860 / 0.38
Break-even point (dollars)= $202,263.16
Suppose a farmer in Georgia begins to grow peaches. He uses $1,000,000 in savings to purchase land, he rents equipment for $90 comma 000 a year, and he pays workers $110 comma 000 in wages. In return, he produces 300 comma 000 baskets of peaches per year, which sell for $3.00 each. Suppose the interest rate on savings is 1 percent and that the farmer could otherwise have earned $45 comma 000 as a shoe salesman. What is the farmer's economic profit? The peach farmer earns economic profit of $nothing . (Enter your response as an integer.)
Answer:
Economic profit =$645,000
Explanation:
Economic profit is the difference between revenue and out of pocket expenses plus opportunity cost.
Opportunity cost is the value of the benefit sacrificed in favour of a decision. It is the value of the next best alternative forgone in favour of a decision.
For example, the opportunity cost of the farmer is the interest rate he would have earned had he invested the money in savings account plus the salary forgone as a salesman
Economic profit = Revenue - out-of-pocket expenses - opportunity cost
Opportunity cost = interest foregone + salary forgone
= (1% × $1,000,000) + 45,000 = 55,000
Out of pocked trading expenses = 110,000 + 90,000 = $200,000
Revenue = $3 × 300,000 = $900,000
Economic profit = 900,000 -200,000-55,000= $645,000
Economic profit =$645,000
Fusion has already been demonstrated as an energy source, albeit on a limited scale. Engineers hope to transform the scale to provide energy at commercial levels. A loan for development of a niche application has been taken out by an engineering research firm, borrowing $900,000. The loan will be paid back over 5 years with uniform quarterly payments and an interest rate of 10 percent compounded quarterly.
What is the equal quarterly amount to be paid?
Answer:
$37,332.77
Explanation:
The computation of the equal quarterly amount that need to be paid is shown below:
= $900,000 × 2.5% ÷ (1 - 2.5%)^20
= $900,000 × 0.041480855
= $37,332.77
The rate of interest is
= 10% ÷ 4
= 2.5%
And, the time period is
= 5 × 4
= 20 years
A multinational engineering consulting firm that wants to provide resort accommodations to special clients is considering the purchase of a three-bedroom lodge in upper Montana that will cost $220,000. The property in that area is rapidly appreciating in value because people anxious to get away from urban developments are bidding up the prices. If the company spends an average of $400 per month for utilities and the investment increases at a rate of 0.75% per month, how long would it be before the company could sell the property for $100,000 more than it has invested in it
Answer:
59.5 months
Explanation:
initial investment x (1 + appreciation rate)ⁿ = initial investment + $100,000 + ($400 x n)
$220,000 x (1 + 0.75%)ⁿ = $320,000 + $400n
1.0075ⁿ = $320,000/$220,000 + $400n/$220,000
1.0075ⁿ = 1.4545 + 0.001818n
I tried to solve it by trial and error:
50 months:
1.453 ≠ 1.5454
60 months:
1.566 ≈ 1.564 ⇒ Almost
61 months:
1.577 ≠ 1.565
59 months:
1.554 ≈ 1.562 ⇒ Almost
59.5 months:
1.56 = 1.56
define securitization.
Answer:
The conversion of an asset, especially a loan, into marketable securities, typically for the purpose of raising cash by selling them to other investors.
Bauer Manufacturing uses departmental cost driver rates to allocate manufacturing overhead costs to proudcts. Mnaufacturing overhead costs are allocated on the the bases of Macine hours in the Machining Department on the bases of direct labor hours. In the Assembly Department. At the beginning of 2018, the following estimates were provided for the coming year:
Machining Assembly
Direct labor - hours 40,000 40,000
Machine - hours 50,000 20,000
Direct labor costs $500,000 $900,000
Manufacturing overhead costs $280,000 $360,000
The accounting records of the company show the following data for Job #316
Machine Assembly
Direct labor - hours 120 65
Machine - hours 50 5
Direct material cost $425 $175
Direct labor cost $275 $300
WHat are the total manufacturing costs for Job #316
Which of the following are correct? (Please show ALL calculations)
A. $2,040
B. $1,960
C. $1,175
D. $1,440
Answer:
See below
Explanation:
Total manufacturing cost = direct material cost + direct labor cost + manufacturing overhead cost
Where
Direct material cost = Machining direct material cost + assembly direct material cost
= $425 + $175
= $600
The direct labor cost = Machining direct labor cost + Assembly direct labor cost
= $275 + $300
= $575
The machining overhead cost = Manufacturing overhead costs / Machine hours
= $280,000 / 50,000
= $5.6
So, cost = $5.6 × 50 = $280
Assembly overhead cost = Manufacturing overhead costs / direct labor hours
= $360,000 / 20,000
= $18
So, the cost = $18 × 65 = $1,170
= $600 + $575 + $280 + $1,170
= $2,625
Shao Airlines is considering the purchase of two alternative planes. Plane A has an expected life of 5 years, will cost $100 million, and will produce net cash flows of $28 million per year. Plane B has a life of 10 years, will cost $132 million, and will produce net cash flows of $27 million per year. Shao plans to serve the route for only 10 years. Inflation in operating costs, airplane costs, and fares are expected to be zero, and the company's cost of capital is 9%. By how much would the value of the company increase if it accepted the better project (plane)
Answer:
41.28 million
Explanation:
the net present value of the two alternatives needs to be determined. The appropriate alternative would be the plane with the higher NPV
Net present value is the present value of after-tax cash flows from an investment less the amount invested.
NPV can be calculated using a financial calculator
Alternative 1
Cash flow in year 0 = $-100 million
Cash flow each year from year 1 to 5 = $28 million
I = 9%
NPV = $8.91 million
Alternative 2
Cash flow in year 0 = $-132 million
Cash flow each year from year 1 to 10 = $27 million
I = 9%
NPV = $41.28 million
The second alternative has the higher NPV and it would increase the value of the company by $41.28 million if accepted
To find the NPV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
Which of the following social media influencing tactics can be described as getting someone to do or buy something because others are also doing it?
A.
Aspirational buying
B.
Bandwagon appeal
C.
Flattery
D.
Juxtaposition
Answer:
B. bandwagon appeal
Explanation: