Answer:
$3,504
Explanation:
Catering supplies = $500 + $76 x j + $14 x m
where,
j = number of jobs in a month
m = number of meals in a month
therefore,
Planning budget for June, use the Actual number of jobs and meals into the formula (Actual Activity).
June Catering supplies = $500 + $76 x 13+ $14 x 144
= $3,504
Conclusion
The catering supplies in the planning budget for June would be closest to $3,504.
A corporation is concerned about their exposure to criminal liability after the most recent election cycle placed a number of new legislators in Congress who campaigned against corporate corruption. Select the strategy that would be least effective in reducing the company's criminal liability.
A. It could prioritize ethical leadership when making hiring decisions for management-level positions.
B. It could encourage reporting by establishing internal protections for whistleblowers beyond what is provided by Congressional law.
C. It could strengthen its code of ethics to reflect the current political mood.
D. It could donate to the election campaigns of the new members of Congress to establish goodwill.
Answer:
The strategy that would be least effective in reducing the company's criminal liability is:
D. It could donate to the election campaigns of the new members of Congress to establish goodwill.
Explanation:
While the other three options will effectively reduce the company's criminal liability exposure, option D is the least that is likely to have a positive or effective effect. This implies that option D is most likely to aggravate the criminal liability of the company as it will be regarded as bribery to cover up a crime.
Fast Co. produces its product through two processing departments. Direct materials are added at the start of production in the Cutting department, and conversion costs are added evenly throughout each process. The company uses monthly reporting periods for its weighted-average process costing system. The Work in Process Inventory-Cutting account has a balance of $89,300 as of October 1, which consists of $18,600 of direct materials and $70,700 of conversion costs. During the month, the Cutting department incurred the following costs: Direct materials$141,150Conversion 915,400At the beginning of the month, 32,500 units were in process. During October, the company started 145,000 units and transferred 155,000 units to the Assembly department. At the end of the month, the Cutting department's work in process inventory consisted of 22,500 units that were 80% complete with respect to conversion costs.
Required:
1. Prepare the company's process cost summary for October using the weighted-average method.
2. Prepare the journal entry dated October 31 to transfer the cost of the completed units to finished goods inventory
Answer:
Part 1
Fast Co.
Process cost summary for October
Cost Summary :
Completed units to finished goods inventory = $1,023,000
Units in Ending Work In Process = $122,850
Part 2
Journal Entry to transfer the cost of the completed units to finished goods inventory
Debit : Finished Goods $1,023,000
Credit : Assembly Department $1,023,000
Explanation:
It is important to note Fast Co. uses weighted-average method. This means we are only interested in the Equivalent units of units completed and transferred and units in Ending Work in Process.
Step 1 ; Calculate Equivalent Units of Production
Materials = 155,000 x 100 % + 22,500 x 100 % = 177,500 units
Conversion Costs = 155,000 x 100 % + 22,500 x 80 % = 173,000 units
Step 2 : Calculate Total Cost of Materials and Conversion Cost
Materials = $18,600 + $141,150 = $159,750
Conversion Cost = $70,700 + $915,400 = $986,100
Step 3 : Calculate the Equivalent Cost per Unit
Materials = $159,750 ÷ 177,500 units = $0.90
Conversion Costs = $986,100 ÷ 173,000 units = $5.70
Total = $0.90 + $5.70 = $6.60
Step 4 : Cost of completed units to finished goods inventory
Completed units to finished goods inventory = $6.60 x 155,000 units
= $1,023,000
Step 5 : Cost of units in Ending Work In Process
Units in Ending Work In Process = $0.90 x 22,500 + $5.70 x 18,000
= $122,850
Capital assets used by an enterprise fund should be accounted for in the:_________.
a. Business-type activities journal but no depreciation on the capital assets should be recorded.
b. Enterprise fund and depreciation on the capital assets should be recorded
c. Governmental activities journal and depreciation on the capital assets should be recorded
d. Enterprise fund but no depreciation on the capital assets should be recorded
Answer:
b. Enterprise fund and depreciation on the capital assets should be recorded
Explanation:
The capital assets used by the enterprise fund should be included in the enterprise fund and the depreciation on the capital assets should be recorded.Depreciation on capital assets should be recorded based on the useful life of the asset appraisal.so correct answer b. Enterprise fund and depreciation on the capital assets should be recordedou were left $100,000 in a trust fund set up by your grandfather. The fund pays 6.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account
Answer:
$27,408.71
Explanation:
The question requires us to find the amount of annual withdrawals that can be made out of the investment. Thus use the time value of money techniques to find the missing parameter of payment (pmt)
PV = $100,000
i = 6.5%
n = 4
p/yr = 1
FV = $0
PMT = ?
Thus, the annual withdrawals that can be made out of the investment is $27,408.71
A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying to model; C. Allows economists to understand the real world, predict events in the real world, and to guide policy; D. Incorporates all aspects of the real world into the model; E. Most economists have confidence in;
Answer:
b.
Explanation:
thats my answer my module
Assume that the CBL is not marketable at split-off but must be planed and sized at a cost of $300,000 per production run. During this process, 10,000 units are unavoidably lost and have no value. The remaining units of CBL are salable at $14 per unit. The RBL, although salable immediately at the split-off point, is coated with a tarlike preservative that costs $200,000 per production run. The RBL is then sold for $12 each. Using the net realizable value basis, how much of the completion costs should be assigned to each unit of CBL
Question
Northwest Building Products (NBP) manufactures two lumber products from a joint milling process: residential building lumber (RBL) and commercial building lumber (CBL). A standard production run incurs joint costs of $350,000 and results in 100,000 units of RBL and 90,000 units of CBL. Each RBL sells for $13 per unit and each CBL sells for $13 per unit.
Assume that the CBL is not marketable at split-off but must be planed and sized at a cost of $300,000 per production run. During this process, 10,000 units are unavoidably lost and have no value. The remaining units of CBL are salable at $14 per unit. The RBL, although salable immediately at the split-off point, is coated with a tarlike preservative that costs $200,000 per production run. The RBL is then sold for $12 each. Using the net realizable value basis, how much of the completion costs should be assigned to each unit of CBL
Answer:
Completion cost per unit of CBL=$5.82
Explanation:
Joint cost is the total cost incurred from the start of start of production process up until the split off point where two or more products result from the same process. The joint products in this case are CBL and RBL
The completion cost of CBL is the sum of the apportioned joint cost at the split-off point plus the further processing cost
Completion cost = apportioned joint cost + further processing cost
Joint cost can be apportioned using the net realizable value as follows
Total net realizable value at the split of point for the two product=
RBL =$13 × 100,000=1,300,000
CBL =$13 × 90,000=1,170,000
Total 2,470,000
Apportioned joint cost to CBL = sales value of CBL/Total sales of product× joint cost
= (1,170,000/2,470,000)*$350,000= 165,789.47
Completion cost = 165,789.47 + 300,000 = $465,789.47
Completion cost per unit of CBL = Completion cost/Expected unit
=$465,789.47/(90,000-10,000) units
=$5.82
Note that the expected units is that available for sale after normal loss as be accounted for. So, we deduct the loss units
Completion cost per unit of CBL=$5.82
Madeline is a research assistant for her favorite biology professor, Dr. Ogechi. Dr. Ogechi is interested in studying the effects of aquarium temperature on the number of offspring produced by a certain species of fish.
Madeline knows from her economics class that to isolate the effects of a particular phenomenon, all other things must remain the same. In Latin, this is referred to as____.
a. pluribus unum.
b. dum versaste, nox fit.
c. onay oremay atinlay.
d. ceteris paribus.
In order to keep all other things the same and isolate the effects of one particular variable in the physics experiment, Madeline will want to do which of the following?
A. Hold constant the material used for the body of the car.
B. Make sure the incline is the same angle for each trial.
C. Clean up after her experiment carefully.
Answer:
D
B
Explanation:
ceteris paribus is a Latin phrase that means all other things being equal. It means that other variables are unchanged.
For example, according to the law of demand, all other things being equal, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
For this law to hold, it is assumed that consumers tastes do not change or income do not change. If the income of a consumer changes and prices increases, the consumer would be able to buy more of a good at the higher price.
In order to isolate the effects of one particular variable in the physics experiment, she has to make sure the incline is the same angle for each trial. If the incline is different, it might affect the results of the experiment
Using data spanning 2002-2013 from the ACFE Report to the Nations on Occupational Fraud and Abuse, and made available through the Institute for Fraud Prevention (IFP), the authors examined private company FRF cases in comparison to those at public companies and found several key differences. These included the observation that a stronger antifraud environment in public companies appears to lead public company FRF perpetrators to use ____________ perhaps to make the fraud less obvious, rather than other fraud schemes such as fictitious revenues.
Answer:
Skimming Scheme
Explanation:
Skimming scheme is a fraudulent activity which involves taking cash from daily receipts. The total cash is reported lower and the excess of cash is withdrawn by fraudster. This fraud is difficult to catch red handed. The daily cash reporting should be segregated between two or more employees in order to control this fraud.
CL
ratio
Cygnus has a
dividend cover ratio
of 4.0 times and expects
zero growth in dividends. The company
has one million $1 ordinary shares
în issue and the market capitalization of
the
company
is $ 50 million
After tax profits for next year is expected to be $20 million.What is the cost of equity capital?
Answer:
The cost of equity is "10.00%".
Explanation:
The given values are:
After tax profits,
= $20 million
Number of shares,
= 1 million
Dividend cover ration,
= 4.0
Market capitalization,
= $50 million
Now,
The earning per share (EPS) will be:
= [tex]\frac{After \ tax \ profits}{Number \ of \ shares}[/tex]
On substituting the values, we get
= [tex]\frac{20}{1}[/tex]
= [tex]20[/tex] ($)
The dividend cover ratio = [tex]\frac{EPS}{Dividend \ per \ share}[/tex]
On substituting the given values, we get
⇒ [tex]4.0=\frac{20}{Dividend \ per \ share}[/tex]
⇒ [tex]Dividend \ per \ share=\frac{20}{4}[/tex]
⇒ [tex]=5[/tex] ($)
Market per share price will be:
= [tex]\frac{Market \ capitalization}{Number \ of \ shares}[/tex]
= [tex]\frac{50}{1}[/tex]
= [tex]50[/tex] ($) per share
So,
The cost of equity capital will be:
= [tex][\frac{Expected \ dividend}{Market \ price} ]+Growth \ rate[/tex]
On putting the values in the above formula, we get
= [tex][\frac{5}{50} ]+0.00[/tex]
= [tex]0.1+0.00[/tex]
= [tex]0.1[/tex] i.e., [tex]10.00[/tex]%
If a company's scope is too big what is likely to happen?
Answer:
The company will lose direction and focus.
Explanation: ;)
Suppose that you have the following information for an economy:______.
Marginal propensity to consume - MPC 0.80 Autonomous consumption - A $500 Planned investment - PI $600 Net exports - NX -$400 Government spending - G $300
You will need this information for the questions that follow.
Part 1. When real GDP is equal to $4,500, aggregate expenditure is equal to $ _____.
Part 2. When real GDP is equal to $5,000, aggregate expenditure is equal to $ _____.
Part 3. When real GDP is equal to $5,500, aggregate expenditure is equal to $ _____.
Answer:
Part 1. When real GDP is equal to $4,500, aggregate expenditure is equal to $4,600.
Part 2. When real GDP is equal to $5,000, aggregate expenditure is equal to $5,000.
Part 3. When real GDP is equal to $5,500, aggregate expenditure is equal to $5,400.
Explanation:
The aggregate expenditure (AE) can be calculated using the following formula:
AE = (A + (MPC * Y)) + PI + G + NX ………………. (1)
Where;
AE = aggregate expenditure = ?
A = Autonomous consumption = $500
MPC = Marginal propensity to consume = 0.80
Y = Real GDP
PI = Planned investment = $600
G = Government spending = $300
NX = Net exports = -$400
Based on the above, we can now proceed as follows:
Part 1. When real GDP is equal to $4,500, aggregate expenditure is equal to $ _____.
This implies that:
Y = Real GDP = $4,500
Substituting this and other values given above into equation (1), we have:
AE = ($500 + (0.80 * $4,500)) + $600 + $300 - $400 = $4,600
Therefore, when real GDP is equal to $4,500, aggregate expenditure is equal to $4,600.
Part 2. When real GDP is equal to $5,000, aggregate expenditure is equal to $ _____.
This implies that:
Y = Real GDP = $5,000
Substituting this and other values given above into equation (1), we have:
AE = ($500 + (0.80 * $5,000)) + $600 + $300 - $400 = $5,000
Therefore, when real GDP is equal to $5,000, aggregate expenditure is equal to $5,000.
Part 3. When real GDP is equal to $5,500, aggregate expenditure is equal to $ _____.
This implies that:
Y = Real GDP = $5,500
Substituting this and other values given above into equation (1), we have:
AE = ($500 + (0.80 * $5,500)) + $600 + $300 - $400 = $5,400
Therefore, when real GDP is equal to $5,500, aggregate expenditure is equal to $5,400.
The Central Publishing Company is about to publish its first reference book in managerial economics. It is now in the process of estimating costs. It expects to produce 10,000 copies during its first year. The following costs have been estimated to correspond to the expected copies.
a. Paper Stock $8.000
b. Typesetting $15,000
c. Printing $50,000
d. Art (including graphs) $9.000
e. Editing $20,000
f. Reviews $3,000
g. Promotion and advertising $12,000
h. Binding $22.000
i. Shipping $10,000
In addition to the preceding costs, it expects to pay the authors a 13 percent royalty and its salespeople a 3 percent commission. These percentages will be based on the publisher’s price of $48 per book. Some of the preceding costs are fixed and others are variable. The average variable costs are expected to be constant. Although 10,000 copies is the projected volume, the book could sell anywhere between 0 and 20,000 copies.
Using the preceding data,
1. Write equations for total cost, average total cost, average variable cost, and marginal cost.
2. Draw the cost curves for quantities from 0 to 20,000 (in intervals of 2,000).
Answer:
Total Cost is the cost that is fixed and does not vary directly with the level of output. According to this question typesetting, printing, editing, reviews, promotion, and advertising are fixed costs. The total fixed cost here is $100000.
Total Variable Cost is the costs that vary directly with the level of output. Variable costs are incurred on variable factors. The Total Variable Cost here is $49000.
Marginal cost is addition to the total cost when one more unit of output is produced.
EQUATIONS
TC = 100000 + 4.9Q
ATC = 100000 + 4.9Q / Q
AVQ = 4.9Q / Q
MC = Change in Total Cost / Change in Quantity = 4.9
GRAPH
Is attached as picture.
Conclusion: The AVC and MC both are equal to 4.9.
At Ruth Company, events and transactions during 2020 included the following. The tax rate for all items is 20%. (1) Depreciation for 2018 was found to be understated by $150,000. (2) A strike by the employees of a supplier resulted in a loss of $125,000. (3) The inventory at December 31, 2018 was overstated by $200,000. The effect of these events and transactions on 2020 income from continuing operations net of tax would be A. ($280,000). B. ($380,000). C. ($220,000). D. ($100,000).
Answer:
D. ($100,000)
Explanation:
Calculation for what The effect of these events and transactions on 2020 income from continuing operations net of tax would be
Continuing operations net of tax=(20%*$125,000)-$125,000
Continuing operations net of tax=$25,000-$125,000
Continuing operations net of tax=($100,000)
Therefore The effect of these events and transactions on 2020 income from continuing operations net of tax would be ($100,000)
ose purchased a vehicle for business and personal use. In 2020, he used the vehicle 10,500 miles (80% of total) for business and calculated his vehicle expenses using the standard mileage rate (mileage was incurred ratably throughout the year). He paid $850 in interest and $85 in property taxes on the car. Required: Calculate the total business deduction related to the car. (Round your final answers to nearest whole dollar amount.)
Answer:
$6,366
Explanation:
Calculation for the total business deduction related to the car:
Total business deduction=($10,500x .535) + $850(.80) + $85(.80)
Total business deduction=$5,618+$680+$68
Total business deduction=$6,366
Therefore the total business deduction related to the car is $6,366
Miller Toy Company manufactures a plastic swimming pool at its Westwood Plant. The plant has been experiencing problems as shown by its June contribution format income statement below: Flexible Budget Actual Sales (15,000 pools) $ 675,000 $ 675,000 Variable expenses: Variable cost of goods sold* 435,000 461,890 Variable selling expenses 20,000 20,000 Total variable expenses 455,000 481,890 Contribution margin 220,000 193,110 Fixed expenses: Manufacturing overhead 130,000 130,000 Selling and administrative 84,000 84,000 Total fixed expenses 214,000 214,000 Net operating income (loss) $ 6,000 $ (20,890 )
*Contains direct materials, direct labor, and variable manufacturing overhead.
Janet Dunn, who has just been appointed general manager of the Westwood Plant, has been given instructions to "get things under control." Upon reviewing the plant’s income statement, Ms. Dunn has concluded that the major problem lies in the variable cost of goods sold. She has been provided with the following standard cost per swimming pool:
Standard Quantity or Hours Standard Price
or Rate Standard Cost
Direct materials 3.0 pounds $ 5.00 per pound $ 15.00
Direct labor 0.8 hours $ 16.00 per hour 12.80
Variable manufacturing overhead 0.4 hours* $ 3.00 per hour 1.20
Total standard cost per unit $ 29.00
*Based on machine-hours.
During June, the plant produced 15,000 pools and incurred the following costs:
Purchased 60,000 pounds of materials at a cost of $4.95 per pound.
Used 49,200 pounds of materials in production. (Finished goods and work in process inventories are insignificant and can be ignored.)
Worked 11,800 direct labor-hours at a cost of $17.00 per hour.
Incurred variable manufacturing overhead cost totaling $18,290 for the month. A total of 5,900 machine-hours was recorded.
It is the company’s policy to close all variances to cost of goods sold on a monthly basis.
Required:
1. Compute the following variances for June:
a. Materials price and quantity variances.
b. Labor rate and efficiency variances.
c. Variable overhead rate and efficiency variances.
2. Summarize the variances that you computed in (1) above by showing the net overall favorable or unfavorable variance for the month.
Answer:
See below
Explanation:
1a. Material price and quantity variances
Material price variance = (Actual price - Standard price) × Actual quantity purchased
= ($4.95 - $5) × 60,000
= -$0.05 × 60,000
= $3,000 unfavorable
Materials quantity variance = (Actual quantity used - Standard quantity allowed) × Standard price
= (49,200 - 15,000 × 3.0) × $5
= (49,200 - 45,000) × $5
= (4,200) × $5
= $21,000 favorable
b. Labor rate and efficiency variances
Labor rate variance = (Actual rate - Standard rate) × Actual hours
= ($17 - $16) × 11,800
= $11,800 favorable
Labor efficiency variance = (Actual hours - Standard hours allowed) × Standard rate
= (11,800 - 15,000 × 0.8) × $16
= (11,800 - 12,000) × $16
= $3,200 Favorable
C. Variable overhead rate and efficiency variances
Variable overhead rate variance = (Actual rate - Standard rate) × Actual machine hours
= $18,290 - ($3 × 5,900)
= $18,290 - $17,700
= $590 unfavorable
Variable overhead efficiency variance =(Actual hours - Standard hours allowed) × Standard rate
= (5,900 - 15,000 × 0.4) × $3
= (5,900 - 6,000) × $3
= $300 favorable
2. Variances amounts
Material price variance
$3,000 U
Material quantity variance
$21,000 F
Labor rate variance
$11,800 F
Labor efficiency variance
$3,200 F
Variable overhead variance
$590 U
Variable overhead efficiency variance
$300 F
Net variance
$32,710 F
The net variance of all the variances for the month is $32,710 F
1. The variances of the Miller Toy Company are as follows:
Material price variance:
= (Actual purchases x Actual price) - (Actual purchases x Standard price)
= (60,000 x 4.95) - (60,000 x 5)
= $3,000 Favorable
Material quantity variance:
= (Actual quantity that was used - Standard quantity) x Standard price
= (49,200 - 45,000) x 5
= $21,000 Unfavorable
Labor rate variance:
= (Actual hours worked x Actual labor cost) - (Actual hours worked x Standard labor cost)
= (11,800 x 17) - (11,800 x 16)
= $11,800 Unfavorable
Labor efficiency variance:
= (Actual hours worked - Standard hours worked) x Standard labor cost
= (11,800 - 12,000) x 16
= $3,200 Favorable
Variable overhead rate variance :
= (Actual overhead rate - Standard) x Actual machine hours
= (3.10 - 3.00) x 5,900
= $590 Unfavorable
Variable Overhead efficiency variance
= (Actual machine hours - Standard machine hours) x Standard variable overhead rate
= (5,900 - 6,000) x 3
= $300 Favorable
2. Overall net variance:
= Material price variance + Material quantity + Labor rate + Labor efficiency + Variable overhead rate + Variable overhead efficiency
= 3,000 - 21,000 - 11,800 + 3,200 - 590 + 300
= 26,890 Unfavorable
Find out more at https://brainly.com/question/16749203.
Partnership records show the following capital balances at the date of Hopkin's withdrawal: M. Hammel, $80,000; D. Hopkins, $210,000; and P. Houghton, $100,000. The three partners share income and loss equally. On December 31, Hopkins withdraws and agrees to take $230,000 cash in settlement of her capital balance. Prepare the December 31 journal entry for the partnership. Prepare the December 31 journal entry for the partnership.
Answer:
Dr D. Hopkins, Capital 210,000
Cr P. Houghton, Capital 10,000
Cr M. Hammel, Capital 10,000
Cr Cash 230,000
Explanation:
Preparation of the December 31 journal entry for the partnership.
Based on the information given the December 31 journal entry for the partnership will be :
Dr D. Hopkins, Capital 210,000
Cr P. Houghton, Capital 10,000
(100,000-80,000/2)
Cr M. Hammel, Capital 10,000
(100,000-80,000/2)
Cr Cash 230,000
You have two choices for how you are going to spend Saturday evening. You can go to the pub with your friends, which will cost you £30 for the evening. The pleasure you anticipate from this experience is worth £50 to you. Or you can go to the theatre The ticket will cost you £50, but you value the experience at £60. Based on this information, which of the following statements is correct?
a. Based on economic rent alone, you would definitely choose to go to the theatre.
b. The economic cost of going to the pub is £40.
c. The economic rent of going to the pub is £0.
d. The opportunity cost of an evening at the pub is £60.
Answer:
b. The economic cost of going to the pub is £40.
Explanation:
The correct option is - b. The economic cost of going to the pub is £40.
Reason -
Economic cost = Cost actually incurred to choose an option + opportunity cost
Now,
We know that
Opportunity cost is the value of next best alternative forgone.
Now,
Net benefits while the person going to Pub = 50 - 30 = £20
Net benefits while the person going to Theatre = 60 - 50 = £10
So,
The opportunity cost = £20 - £10 = £10
∴ we get
Economic cost of going to the Pub= £30 + £10 = £40
The answer to this question is option B. The economic cost of going to the pub is £40.
In order to get the economic cost, we use this formula to calculate it:
Economic cost = cost of account + opportunity cost - benefit of the pub
The cost of account = 30 this is the price for the pub
The opportunity cost = 60 is the benefit that would have been enjoyed for visiting the theatre
The benefit = 50 is the worth of the pub
This would give us 30+60-50
= £40
Therefore the economic cost of going to the pub is £40.
Read more on https://brainly.com/question/13161277?referrer=searchResults
What type of planning do you think Gordon Bernard is doing?
Answer:
I think he is planing to do something to help the world
lol I don't when know tbh lol
Categorize each of the following items as an S-strength, W-weakness, O-opportunity, or T-threat. " WALMART SWOT ANALYSIS"
Established Name Brand
Low Prices-Low Cost Leadership
Unfair Employment Practices
Pressures Suppliers on Cost
Recession
Other big box retailers-Target
Small Towns
International Markets
Products Made in China
Product Safety
Large Purchases –Buy in Bulk
Internet Retailing
Customer Base
No Urban Locations
Health Care for Employees
Global Presence
Price Competition
Product Quality
Customer service
Distribution/Logistics System
One Stop Shop
In 15 Countries—not in Europe except for United Kingdom
Sam’s Club
Minimum Wage Laws
Rising Labor Costs in China
Healthcare Costs
12% Lower Grocery Prices
Litigation by employees
Target Superior Merchandising Capability
Community Resistance
Home Delivery of Goods
Growth of Aldi Food Chain-Europe/North America
Poor Working Conditions
Dollar stores
Online Retailers
Answer:
Established Name Brand - S - Brings in more customers
Low Prices(Low Cost Leadership ) - S - Retaining customers
Unfair Employment Practices - T - Negatively affects the brand image
Pressures Suppliers on Cost - S - Have bargaining power on suppliers
Recession - T - Can bring down customer spending
Other big box retailers(Target) - T - Competition
Small Towns - O - Not many players
International Markets - O - Growth prospects
Products Made in China - O - Lower prices
Product Safety - S - Retaining customers
Large Purchases (Buy in Bulk) - S - Cost savings
Internet Retailing - O - New growth opportunity
Customer Base - S - Large customer base
No Urban Locations - O - Opportunity to expand
Health Care for Employees - S - Employee satisfaction
Global Presence - S - Large customer base
Price Competition - O - Best in industry
Product Quality - Retaining customers
Customer service- S - Retaining customers
Distribution/Logistics System - S - Lower costs
One Stop Shop - S - Retaining customers
In 15 Countries—not in Europe except for United Kingdom - Opportunity to grow in Europe
Sam’s Club - O - Customer loyalty
Minimum Wage Laws - T - Higher costs
Rising Labor Costs in China - T - Higher costs
Healthcare Costs - T - Higher costs
12% Lower Grocery Prices - S - Cost leadership
Litigation by employees - T - Negatively affects the brand image
Target Superior Merchandising Capability - O - Competition
Community Resistance - T - Negatively affects the brand image
Home Delivery of Goods - O - Growth prospects
Growth of Aldi Food Chain-Europe/North America - T - Competition
Poor Working Conditions - T - Negatively affects the brand image
Dollar stores - T - Competition
Online Retailers - T - Competition
define hedge fund economics.
Answer:
Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors
Port Ormond Carpet Company manufactures carpets. Fiber is placed in process in the Spinning Department, where it is spun into yarn. The output of the Spinning Department is transferred to the Tufting Department, where carpet backing is added at the beginning of the process and the process is completed. On January 1, Port Ormond Carpet Company had the following inventories:
Finished Goods $62,000
Work in Process-Spinning Department 35,000
Work in Process-Tufting Department 28,500
Materials 17,000
Departmental accounts are maintained for factory overhead, and both have zero balances on January 1. Manufacturing operations for January are summarized as follows:
Jan.1 Materials purchased on account, $500,000
2 Materials requisitioned for use:
Fiber-Spinning Department, $275,000
Carpet backing-Tufting Department, $110,000
Indirect materials-Spinning Department, $46,000
Indirect materials-Tufting Department, $39,500
31 Labor used:
Direct labor-Spinning Department, $185,000
Direct labor-Tufting Department, $98,000
Indirect labor-Spinning Department, $18,500
Indirect labor-Tufting Department, $9,000
31 Depreciation charged on fixed assets:
Spinning Department, $12,500
Tufting Department, $8,500
31 Expired prepaid factory insurance:
Spinning Department, $2,000
Tufting Department, $1,000
31 Applied factory overhead:
Spinning Department, $80,000
Tufting Department, $55,000
31 Production costs transferred from Spinning Department to Tufting Department, $547,000
31 Production costs transferred from Tufting Department to Finished Goods, $807,200
31 Cost of goods sold during the period, $795,200
Required:
1. Journalize the entries to record the operations, using the dates provided with the summary of manufacturing operations. Refer to the Chart of Accounts for exact wording of account titles.
2. Compute the January 31 balances of the inventory accounts.*
3. Compute the January 31 balances of the factory overhead accounts.
Answer:
Port Ormond Carpet Company
1. Journal Entries:
Jan. 31 Debit Materials $500,000
Credit Accounts payable $500,000
To record the purchase of materials on account.
Jan. 31 Debit Work-in-Process - Spinning $275,000
Credit Materials $275,000
To record the materials requisitioned.
Jan. 31 Debit Work-in-Process -Tufting $110,000
Credit Materials $110,000
To record carpet backing
Jan. 2 Debit Factory Overhead - Spinning $46,000
Debit Factory Overhead - Tufting $39,500
Credit Materials $85,500
To record indirect materials used.
Jan. 31 Debit Work-in-Process - Spinning $185,000
Debit Work-in-Process - Tufting $98,000
Credit Factory Payroll $283,000
To record direct labor costs.
Jan 31: Debit Overhead - Spinning $18,500
Debit Overhead - Tufting $9,000
Credit Factory Payroll $27,500
To record indirect labor costs.
Jan. 31: Debit Factory Overhead - Spinning $12,500
Debit Factory Overhead - Tufting $8,500
Credit Factory Depreciation Expense $21,000
To record depreciation costs.
Jan. 31:
Debit Factory Overhead - Spinning $2,000
Debit Factory Overhead - Tufting $1,000
Credit Factory Insurance $3,000
To record insurance costs.
Jan. 31 Debit Work-in-Process - Spinning $80,000
Credit Factory Overhead - Spinning $80,000
To record overhead costs applied.
Jan. 31 Debit Work-in-Process - Tufting $55,000
Credit Factory Overhead $55,000
To record overhead costs applied.
Jan. 31 Debit Work-in-Process - Tufting $547,000
Credit Work-in-Process - Spinning $547,000
To record the transfer to Tufting department.
Jan. 31 Debit Finished Goods Inventory $807,200
Credit Work-in-Process- Tufting $807,200
To record the transfer to Finished Goods.
Jan. 31 Debit Cost of Goods Sold $795,200
Credit Finished Goods $795,200
To record the cost of goods sold.
2. January 31 balances of the inventory accounts:
Finished Goods = $74,000
Work-in-Process - Spinning = $28,000
Work-in-Process - Tufting = $31,300
Materials = $46,500
3. Factory Overhead Accounts Balances:
Spinning $1,000 (Debit)
Tufting $3,000 (Credit)
Explanation:
a) Data and Calculations:
January 1 Inventories:
Finished Goods = $62,000
Work in Process- Spinning = $35,000
Work in Process - Tufting = $28,500
Materials = $17,000
Finished Goods
Account Titles Debit Credit
Jan. 1 Beginning balance $62,000
Jan. 2 Work-in-Process-Tufting 807,200
Jan. 31 Cost of Goods Sold $795,200
Jan. 31 Ending balance 74,000
Work-in-Process - Spinning
Account Titles Debit Credit
Beginning balance $35,000
Jan. 2 Materials 275,000
Jan. 31 Direct labor 185,000
Applied overhead 80,000
Work-in-Process -Tufting $547,000
Jan. 31 Ending balance 28,000
Work-in-Process - Tufting
Account Titles Debit Credit
Jan. 1 Beginning balance $28,500
Jan. 2 Carpet backing 110,000
Jan. 31 Direct labor 98,000
Jan. 31 Applied overhead 55,000
Jan. 31 WIP- Spinning 547,000
Jan. 31 Finished Goods $807,200
Jan. 31 Ending balance 31,300
Cost of Goods Sold
Account Titles Debit Credit
Jan. 31 Finished Goods $795,200
Materials
Account Titles Debit Credit
Jan. 1 Beginning balance $17,000
Jan. 2 Accounts payable 500,000
Jan. 31 Work-in-Process - Spinning $275,000
Jan. 31 Work-in-Process - Spinning 46,000
Jan. 31 Factory Overhead - Tufting 39,500
Jan. 31 Factory Overhead - Tufting 110,000
Jan. 31 Ending balance 46,500
Factory Overhead - Spinning
Account Titles Debit Credit
Jan. 31 Materials - Spinning 46,000
Jan. 31 Payroll - Spinning 18,500
Jan. 31 Depreciation - Spinning 12,500
Jan. 31 Factory insurance-Spinning 2,000
Jan. 31 Work in Process 80,000
Jan. 31 Balance 1,000
Factory Overhead - Tufting
Account Titles Debit Credit
Jan. 31 Materials - Tufting 39,500
Jan. 31 Payroll - Tufting 9,000
Jan. 31 Depreciation - Tufting 8,500
Jan. 31 Factory insurance- Tufting 1,000
Jan. 31 Work in Process 55,000
Jan. 31 Balance 3,000
The following is selected information from Windsor, Inc. for the fiscal year ending October 31, 2022. Cash received from customers $129000 Revenue recognized 193500 Cash paid for expenses 73100 Cash paid for computers on November 1, 2021 that will be used for 3 years 20640 Expenses incurred including any depreciation 102340 Proceeds from a bank loan, part of which was used to pay for the computers 43000 Based on the accrual basis of accounting, what is Windsor's net income for the year ending October 31, 2022
Last year, Hever Inc. had sales of $500,000, based on a unit selling price of $250. The variable cost per unit was $175, and fixed costs were $75,000. The maximum sales within Hever Inc.'s relevant range are 2,500 units. Hever Inc. is considering a proposal to spend an additional $33,750 on billboard advertising during the current year in an attempt to increase sales and utilize unused capacity. Required: 1. Construct a cost-volume-profit chart on your own paper, indicating the break-even sales for last year. Break-even sales (dollars) Break-even sales (units) 2. Using the cost-volume-profit chart prepared in part (1), determine (a) the income from operations for last year and (b) the maximum income from operations that could have been realized during the year. Income from operations Maximum income from operations 3. Construct a cost-volume-profit chart (on your own paper) indicating the break-even sales for the current year, assuming that a noncancelable contract is signed for the additional billboard advertising. No changes are expected in the unit selling price or other costs. Dollars Units
Answer:
1. Break-even sales (dollars) $ 250,000
Break-even sales (units) 1000
2. Income from operations $ 75,000
Maximum income from operations $ 112,500
3. Break-even sales (dollars) $ 362,500
Break-even sales (units) 1450
4. Income from operations at 2,000 units $41,250
Maximum income from operations $ 78,750
Explanation:
1. Calculation to Construct a cost-volume-profit chart , indicating the break-even sales for last year.
First step is to calculate the Contribution margin using this formula
Contribution margin = unit selling price - variable costper unit
Let plug in the formula
Contribution margin =250-175
Contribution margin = 75
Second step is to calculate the Contribution margin Ratio using this formula
Contribution margin Ratio = Contribution margin /unit selling price
Let plug in the formula
Contribution margin Ratio = 75/250
Contribution margin Ratio = 30%
Now let calculate the Break-even sales (dollars) using this formula
Break-even sales (dollars) = fixed costs /Contribution margin Ratio
Let plug in the formula
Break-even sales (dollars) = 75,000/30%
Break-even sales (dollars) = $250,000
Therefore Break-even sales (dollars) is $250,000
Calculation for Break-even sales (units) using this formula
Break-even sales (units) = fixed costs /Contribution margin
Let plug in the formula
Break-even sales (units) = 75,000/75
Break-even sales (units) = 1000
Therefore Break-even sales (units) is 1000
2a. Calculation to determine the income from operations for last year Using the cost-volume-profit chart prepared in part (1)
First step is to calculate the No of Unit sold using this formula
No of Unit sold = Sale /Sale Price
Let plug in the formula
No of Unit sold = 500000/250
No of Unit sold= 2000
Now let calculate the Income from operations for last year Using this formula
Income from operations for last year = Contribution margin*No of Unit sold - Fixed cost
Let plug in the formula
Income from operations for last year = 75*2000 - 75000
Income from operations for last year = $ 75,000
Therefore Income from operations for last year is $75,000
2b. Calculation to determine the maximum income from operations that could have been realized during the year Using the cost-volume-profit chart prepared in part (1)
Using this formula
Maximum income from operations = Contribution margin*No of Maximum Unit can be sold - Fixed cost
Let plug in the formula
Maximum income from operations = 75*2500 - 75000
Maximum income from operations = $ 112,500
Therefore Maximum income from operations is $ 112,500
3. Calculation to Construct a cost-volume-profit chart indicating the break-even sales for the current year
First step is to calculate the Contribution margin using this formula
Contribution margin = unit selling price - variable costper unit
Let plug in the formula
Contribution margin =250-175
Contribution margin = 75
Second step is to calculate the Contribution margin Ratio using this formula
Contribution margin Ratio = Contribution margin /unit selling price
Let plug in the formula
Contribution margin Ratio = 75/250
Contribution margin Ratio = 30%
Third step is to calculate the Total fixed costs
Total fixed costs = 75,000+33,750
Total fixed costs = $108,750
Now let calculate the Break-even sales (dollars) using this formula
Break-even sales (dollars) = Fixed costs /Contribution margin Ratio
Let plug in the formula
Break-even sales (dollars) = 108,750/30%
Break-even sales (dollars) =$362,500
Therefore the Break-even sales (dollars) is $362,500
Calculation for the Break-even sales (units) using this formula
Let plug in the formula
Break-even sales (units) = Fixed costs /Contribution margin
Break-even sales (units) = 108,750/75
Break-even sales (units) = 1450
Therefore the Break-even sales (units) is 1450
4a. Calculation to determine (a) the income from operations if sales total 2,000 units Using the cost-volume-profit chart prepared in part (3)
First step is to calculate the No of Unit sold Using this formula
No of Unit sold = Sale /Sale Price
Let plug in the formula
No of Unit sold = 500,000/250
No of Unit sold 2000
Now let calculate the Income from operations for last year using this formula
Income from operations for last year = Contribution margin*No of Unit sold - Fixed cost
Let plug in the formula
Income from operations for last year = 75*2000 - 108,750
Income from operations for last year = $ 41,250
Therefore Income from operations for last year is $41,250
4b. Calculation to determine (b) the maximum income from operations that could be realized during the year Using the cost-volume-profit chart prepared in part (3)
Using this formula
Maximum income from operations = Contribution margin*No of Maximum Unit can be sold - Fixed cost
Let plug in the formula
Maximum income from operations = 75*2500 -108,750
Maximum income from operations = $ 78,750
Therefore Maximum income from operations is $ 78,750
The break-even sales are the point where the total revenue is equal to total costs. The break-even sales for the current period after the calculation is $$362,500.
What do you mean by Break-even sales?Break-even sales are the amount of revenue in which the business gains zero profit. This sale price includes exactly the core fixed costs of the business, as well as all the variable costs associated with the sale.
As per the information available:
1. We will construct a cost-volume-profit chart, indicating the break-even sales for last year. The first step is to calculate the Contribution margin using this formula:
[tex]\rm\,Contribution \;margin = Unit \;Selling \; Price - Variable \; Cost \;Per \;Unit[/tex]
[tex]\rm\,Contribution\; Margin =250-175\\\\Contribution \;margin = \$75[/tex]
Next, we have to calculate the contribution margin ratio:
[tex]\rm\,Contribution \; Margin \; Ratio = \dfrac{Contribution \;Margin \;}{Unit \;Selling \;Price}\\\\[/tex]
[tex]\rm\,Contribution \;Margin\; Ratio = \dfrac{75}{250}\\\\Contribution \;Margin\; Ratio = 30\%[/tex]
Calculation of the Break-even sales (dollars) using this formula:
[tex]\rm\,Break- \;Even \;Sales \;(dollars) = \dfrac{\; Fixed \;Costs }{Contribution \;Margin \; Ratio \;}[/tex]
[tex]\rm\,Break- \;even \;sales (dollars) = \dfrac{75,000}{30\%}\\\\Break- \;even \; sales \; (dollars) = \$250,000[/tex]
Thus Break-even sales are $250,000
The calculation for Break-even sales (units) using this formula:
[tex]\rm\,Break-\,even \,sales \,(units) =\dfrac{ Fixed\, Costs}{Contribution\, margin}[/tex]
[tex]\rm\,Break-even \;Sales (units) = \dfrac{75,000}{75}\\\\Break \;-even \;Sales \;(units) = 1000[/tex]
Similarly, we can apply the same formula of the above calculation for number 3. that is to calculate the break-even sales for the current year which is equal to Break-even sales (dollars) is $362,500 and Break-even sales (units) is 1450.
2. Calculation to determine the income from operations for last year Using the cost-volume-profit chart prepared in part (1):
The number of units sold will be equal to sale divided by selling price per unit:
[tex]\dfrac{\$500,000}{\$250} = 2,000\rm\,Units[/tex]
[tex]\rm\,Income \;from\; operations\; for \;last \;year = Contribution\; margin\times No \;of \;Unit\; sold - \;Fixed\; cost[/tex]
[tex]\rm\,Income \;from\; operations \;for \;last \;year = 75\times2000 - 75000\\\\Income\; from \;operations \;for \;last \;year = \$75,000[/tex]
Similarly, By applying the same formula as above, Income from operations for the current period is equal to $112,500.
Hence, break-even sales for the last year and the current period are calculated where the break-even sales for the last year are equal to $250,000 and for the current period is equal to $362,500.
To learn more about break-even sales, refer to the link:
https://brainly.com/question/9212451
Morris Company applies overhead based on direct labor costs. For the current year, Morris Company estimated total overhead costs to be $400,000, and direct labor costs to be $2,000,000. Actual overhead costs for the year totaled $380,000, and actual direct labor costs totaled $1,800,000. At year-end, the balance in the Factory Overhead account is a:_________.
a. $360,000 Debit balance.
b. $20,000 Credit balance.
c. $400,000 Credit balance.
d. $20,000 Debit balance.
e. $380,000 Debit balance.
Answer:
Option d ($20,000 Debit balance) is the appropriate option.
Explanation:
The given values are:
Total overhead costs,
= $400,000
Direct labor costs,
= $2,000,000
Actual overhead incurred,
= $380,000
Actual direct labor costs,
= $1,800,000
Now,
As a % of labor cost, the OH will be:
= [tex]\frac{400000}{2000000}\times 100[/tex]
= [tex]20 \ percent[/tex]
The absorbed overhead will be:
= [tex]1800000\times 20 \ percent[/tex]
= [tex]360,000[/tex]
Then,
The balance in overhead account will be:
= Actual overhead incurred - Absorbed overhead
= [tex]380000 - 360000[/tex]
= [tex]20,000[/tex] ($) (Debit balance)
The management of Maltwo Co. asks your help in determining the comparative effects of the FIFO and LIFO inventory cost flow methods. For 2015, the accounting records show the following data. Inventory, January 1 (10,000 units) $ 37,000 Cost of 110,000 units purchased 479,000 Selling price of 90,000 units sold 720,000 Operating expenses 150,000 Units purchased consisted of 40,000 units at $4.20 on May 10; 50,000 units at $4.40 on August 15; and 20,000 units at $4.55 on November 20. Income taxes are 30%. Instructions: Prepare comparative condensed income statements for 2015 under FIFO and LIFO. (Show computations of ending inventory.) Answer the following questions for management. Which inventory cost flow method produces the most meaningful inventory amount for the balance sheet? Why? Which inventory cost flow method produces the most meaningful net income? Why? How muc
Answer:
Net income for Maltwo Co. is $132,300
Explanation:
FIFO
Sold 90,000 units
Cost of sold units =
opening 10,000 units for $3.7 = $37,000
purchased 40,000 units for $4.20 = $168,000
purchased 40,000 units for $4.4 = $176,000
Total cost of goods sold = $381,000
Sales = $720,000
less: cost of goods sold = $381,000
less: operating expenses = $150,000
Operating income = $189,000
less: Income tax 30% = $56,700
Net Income = $132,300
LIFO
Sold 90,000 units
Cost of sold units =
purchased 20,000 units for $4.55 = $91,000
purchased 50,000 units for $4.40 = $220,000
purchased 20,000 units for $4.20 = $84,000
Total cost of goods sold = $395,000
Sales = $720,000
less: cost of goods sold = $395,000
less: operating expenses = $150,000
Operating income = $175,000
less: Income tax 30% = $52,500
Net Income = $122,500
Most meaningful net income is calculated by FIFO because in most of the businesses goods purchased first are sold first and if not then the goods purchased the earliest cross its expiry date and eventually results in a loss for the company.
So the net income for Maltwo Co. is $132,300
Use the following information to answer the next question. Total Asset = $40 million Depreciation = $1.0 million. Basic earning power (BEP) ratio is 20% Lease payments = 0.6 million Times-interest-earned (TIE) ratio is 6.55 Principal payments = 4 million What is the company's EBIT? The company's interest expense? Select one: a. $8.0 million; $1.22 million b. $7.5 million; $0.75 million c. $8.0 million; $0.62 million d. $1.35 million; $0.37 million e. $3.33 million; $0.83 million
Answer:
a. $8.0 million; $1.22 million
Explanation:
The computation is shown below:
As we know that
Basic earnings power = EBIT ÷ total assets
So,
EBIT = Basic earnings power × total assets
= 0.20 × 40 million
= $8 million
Now
Times interest earned = EBIT ÷ interest expense
So,
Interest expense = EBIT ÷ Times interest earned
= $8 million ÷ 6.55
= $1.22 million
The first step in creating a budget is to
A invest money
В. track expenses
C set financial goals
D explore income opportunities
Brandon, the Marketing Manager at a public relations firm, suspects that one of his team members, Ross, has been engaging in substance abuse. Brandon has observed that Ross has lately been aggressive at the workplace, is mostly absent, shows low participation, has low productivity, and exhibits other antagonistic behaviors. Brandon wants to help Ross and does not want him to lose his job, as he had been efficient in the past. In this case, if Ross is a confirmed substance abuser, which of the following programs should Brandon consider using to help Ross's situation?
a. An employee engagement program
b. An employee assistance program
c. The Medicaid program
d. The Healthy People 2020 program
Answer:
b. An employee assistance program
Explanation:
The employee asssitance program is the program in which it offers free of cost and the assessment that are confidential in all respect. It includes short-term counselling, references, follow up services to the employees who has the personal or work related issues
Since Brandon wants to help Ross and also he dont want to lose his job
so this given situation represent the assistance program
Therefore the option b is correct
ou are planning to save for retirement over the next 30 years. To do this, you will invest $890 per month in a stock account and $490 per month in a bond account. The return of the stock account is expected to be 10.9 percent, and the bond account will pay 6.9 percent. When you retire, you will combine your money into an account with a return of 7.9 percent. How much can you withdraw each month from your account assuming a 25-year withdrawal period
Answer:
Monthly withdraw= $23,294.99
Explanation:
Giving the following information:
Stock:
Monthly deposit= $890
Number of periods= 30*12= 360
Interest rate= 0.109 / 12= 0.0091
Bond:
Monthly deposit= $490
Number of periods= 30*12= 360
Interest rate= 0.069 / 12= 0.00575
First, we need to calculate the amount of money collected at the moment of retirement. We need to use the following formula on each investment:
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
Stock:
FV= {890*[(1.0091^360) - 1]} / 0.0091
FV= $2,452,918.1
Bond:
FV= {490*[(1.00575^360) - 1]} / 0.00575
FV= $586,123.47
Total FV= 2,452,918.1 + 586,123.47
Total FV= $3,039,041.57
Now, the monthly withdrawal for 25 years:
Number of periods= 25*12= 300
Interest rate= 0.079 / 12= 0.0066
Monthly withdraw= (FV*i) / [1 - (1+i)^(-n)]
Monthly withdraw= (3,039,041.57*0.0066) / [1 - (1.0066^-300)]
Monthly withdraw= $23,294.99
Question 5 of 10
When should a writer establish common ground before the bottom-line
statement?
A. When the report does not have an executive summary
O B. When the document is minutes of a meeting
Ο Ο Ο Ο
C. When the reader may disagree with the bottom-line statement
O D. When the details are arranged in order of importance
SUBMIT
Answer:
C. When the reader may disagree with the bottom-line statement
Explanation:
A common ground can be regarded as an area of shared interests which is been held number of people or groups. It is a point at which opinions and interest is been agreed upon by parties. A bottom-line statement can be regarded as a likely closing statement made after an agreement has been reached, it's just like a conclusion after the whole statement. Hence, it is necessary for the writer to establish a common ground first before he/she will establish bottom line statement "when the reader may disagree with the bottom-line statement''