Answer:
technical skills
An accountant's ability to audit a company's records is an example of what type of skills? technical skills. Camille Graham is a manager who works well with people and makes them feel excited about their work.
Explanation:
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least five data analysis techniques that could be used for research and describe the application of each
Job Number Manufacturing Costs as of June 30 Manufacturing Costs in July 101 $ 3,800 102 3,200 103 960 $ 2,000 104 2,200 4,300 105 6,200 106 3,300 During July, jobs no. 103 and 104 were completed, and jobs no. 101, 102, and 104 were delivered to customers. Jobs no. 105 and 106 are still in process at July 31. a. Compute the work in process inventory at June 30. b. Compute the finished goods inventory at June 30. c. Compute the cost of goods sold during July. d. Compute the work in process inventory at July 31. e. Compute the finished goods inventory at July 31.
Answer:
(a) $3,160
(b) $7,000
(c) $13,500
(d) $9,500
(e) $2,960
Explanation:
(a). Work in Process = Manufacturing cost of 103 in June + Manufacturing cost of 104 in June
Work in Process = $960 + $2,200 = $3,160
(B). Finished goods = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June
Finished goods = $3,800 + $3,200 = $7,000
(C) Cost of goods sold during July = Manufacturing cost of 101 in June + Manufacturing cost of 102 in June + Manufacturing cost of 104 in June + Manufacturing cost of 104 in July
Cost of goods sold during July = $3,800 + $3,200 + $2,200 + $4,300 = $13,500
(D) Work in process inventory = Manufacturing cost of 105 in July + Manufacturing cost of 106 in July
= $6,200 + $3,300 = $9,500
(E) Finished goods inventory = Manufacturing cost of 103 in June + Manufacturing cost of 103 in July
Finished goods inventory = $960 + $2,000 = $2,960
Inventory records for Marvin Company revealed the following:
Date Transaction Number
of Units Unit
Cost
Mar. 1 Beginning inventory 990 $7.25
Mar. 10 Purchase 570 7.73
Mar. 16 Purchase 710 8.20
Mar. 23 Purchase 520 8.60
Marvin sold 1,900 units of inventory during the month. Cost of goods sold assuming FIFO would be
Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $498,000. A new raw material is available that will decrease the variable costs per unit by 20% (or $3.60). However, to process the new raw material, fixed operating costs will increase by $93,000. Management feels that one-half of the decline in the variable costs per unit should be passed on to customers in the form of a sales price reduction. The marketing department expects that this sales price reduction will result in a 5% increase in the number of units sold. (a) Prepare a projected CVP income statement for 2020, assuming the changes have not been made. SHEFFIELD COMPANY CVP Income Statement Total Per Unit $ $ $ $
Answer:
Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:
Total Per unit
Total sales $1,842,400 $28
Variables costs ($1,184,400) ($18)
Contribution margin $658,000 $10
Fixed costs ($498,000) ($7.57)
Operating income $160,000 $2.43
Fischer Company uses 12,000 units of a part in its production process. The costs to make a part are: direct material, $15; direct labor, $27; variable overhead, $15; and applied fixed overhead, $32. Heath has received a quote of $60 from a potential supplier for this part. If Fischer buys the part, 75 percent of the applied fixed overhead would continue. Fischer Company would be better off by
Answer: $60,000
Explanation:
Total cost of producing the good internally:
= No. of units * (Direct material + Direct labor + Variable overhead + Applied fixed overhead)
= 12,000 * (15 + 27 + 15 + 32)
= $1,068,000
If the good is acquired externally for $60, they would still incur 75% of the applied fixed overhead:
= 12,000 * [ 60 + (75% * 32)]
= $1,008,000
If Fischer received from the supplier, they would save:
= 1,068,000 - 1,008,000
= $60,000
Fischer Company would be better off by $60,000 to buy the part.
Fatuma invests a total of $22,000 in two accounts. The first account earned a rate of return of 15% (after a year). However, the second account suffered a 7% loss in the same time period. At the end of one year, the total amount of money gained was $110.00. How much was invested into each account
Answer:
$7,500 was invested in the account that gained 15%, while $14,500 was invested in the account that lost 7%.
Explanation:
Given that Fatuma invests a total of $ 22,000 in two accounts, and the first account earned a rate of return of 15% after a year while the second account suffered a 7% loss in the same time period, and at the end of one year the total amount of money gained was $ 110.00, to determine how much was invested into each account, the following calculation must be performed:
11,000 x 0.15 - 11,000 x 0.07 = 880
5,000 x 0.15 - 17,000 x 0.07 = -440
8,000 x 0.15 - 14,000 x 0.07 = 220
7,000 x 0.15 - 15,000 x 0.07 = 0
7,500 x 0.15 - 14,500 x 0.07 = 110
Therefore, $ 7,500 was invested in the account that gained 15%, while $ 14,500 was invested in the account that lost 7%.
Assume a company is preparing a budget for its first two months of operations. During the first and second months it expects credit sales of $48,000 and $76,000, respectively. The company expects to collect 60% of its credit sales in the month of the sale and the remaining 40% in the following month. What is the expected cash collections from credit sales during the first month
Answer:
$28,800
Explanation:
Follow the given collection policy :
Cash Collection = 60 % in month of the sale + 40 % in the following month
therefore,
During the first month :
Cash Collection = 60 % in month of the sale only
= $48,000 x 60 %
= $28,800
The expected cash collections from credit sales during the first month is $28,800
Crazy Delicious Inc. produces chocolate bars. The primary materials used in producing chocolate bars are cocoa, sugar, and milk. The standard costs for a batch of chocolate (5,000 bars) are as follows: Ingredient Quantity Price Cocoa 500 lbs. $1.40 per lb. Sugar 100 lbs. $0.50 per lb. Milk 250 gal. $1.60 per gal. Determine the standard direct materials cost per bar of chocolate. Round to two decimal places. $fill in the blank 1 per bar
Answer:
Standard direct materials cost per bar of chocolate = $0.23 per bar
Explanation:
This can be calculated as follows:
Total standard cost of cocoa in a batch = 500 * $1.40 = $700
Total standard cost of Sugar in a batch = 100 * 0.50 = $50
Total standard cost of Milk in a batch = 250 * 1.60 = $400
Total standard costs for a batch of chocolate = $700 + $50 + $400 = $1,150
Number bars of chocolate in batch = 5,000
Therefore, we have:
Standard direct materials cost per bar of chocolate = Total standard costs for a batch of chocolate / Number bars of chocolate in batch = $1,150 / 5,000 = $0.23 per bar
Blue Spruce Corp. reported net income of $194,740 for 2022. Blue Spruce Corp. also reported depreciation expense of $36,900 and a loss of $5,030 on the disposal of plant assets. The comparative balance sheets show an increase in accounts receivable of $15,650 for the year, a $15,880 increase in accounts payable, and a $4,250 increase in prepaid expenses. Prepare the operating activities section of the statement of cash flows for 2022. Use the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Blue Spruce Corp. Partial Statement of Cash Flows Choose the accounting period Select an opening section name Select an item $Enter a dollar amount Adjustments to reconcile net income to Select an opening name for subsection Select an item $Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Select an item Enter a dollar amount Enter a total amount for this subsection Select a closing section name $Enter a total amount for this section
Answer:
Blue Spruce Corp
Statement of Cash Flows for the year ended December 31, 2022
Operating activities section:
Net income $194,740
add non-cash flow items:
Depreciation expense 36,900
Loss on disposal of plant assets 54,030
Adjusted operating income $285,670
Working capital changes:
Increase in accounts receivable (15,650)
Increase in accounts payable 15,880
Increase in prepaid expenses (4,250)
Net cash from operating activities $281,650
Explanation:
a) Data and Calculations:
Reported 2022 net income = $194,740
Depreciation expense = $36,900
Loss on disposal of plant assets = $54,030
Increase in accounts receivable = $15,650
Increase in accounts payable $15,880
Increase in prepaid expenses $4,250
b) The operating activities section is one section of the Statement of Cash Flows. It shows the cash inflows and outflows from Spruce's normal business activities. Other sections of Spruce's Statement of Cash Flows that show activities outside operating activities are the investment activities section and financing activities.
Harold Reese must choose between two bonds: Bond X pays $82 annual interest and has a market value of $710. It has 10 years to maturity. Bond Z pays $88 annual interest and has a market value of $750. It has five years to maturity. Assume the par value of the bonds is $1,000.
a. Compute the current yield on both bonds.
b. Which bond should he select based on your answers to part a?
c. A drawback of current yield is that it does not consider the total life of the bond. For example, the approximate yield to maturity on Bond X is 13.44 percent. What is the approximate yield to maturity on Bond Z? The exact yield to maturity?
Answer:
a) For Bond X = 11.55%
For Bond Z = 11.73 %
b) Bond Z
c) Approximate YTM = 15.77%
Exact yield to maturity = 16.53 %
Explanation:
Bond X : pays $82 annual interest , market value = $710 and years to maturity =10
Bond Z: pays $88 annual interest, market value = $750 , Years to maturity= 5
par value of bonds = $1000
a) Current yield on both bonds
For Bond X : annual interest / market value = 82 / 710 = 11.55%
For Bond Z : Annual interest / market value = 88 / 750 = 11.73%
b) The Bond that should be selected = Bond Z
C) Calculate the approximate yield to maturity on Bond Z and exact yield to maturity
i) Yield to maturity on Bond Z
[C + (Par Value - Current Value) / n] / (Par Value + Current Value) / 2
where: C = 88 , par value = 1000, Current value = $750, n = 2
∴ YTM on Bond Z = 0.1577 = 15.77%
ii) Exact yield to maturity = 16.53 %
user add controls to a form
Answer: meeeeep
Explanation:
Manoel
Direct materials purchases are estimated to be $300,000, $360,000 and $450,000 for June, July, and August, respectively. Cash payments are paid such that 60% are paid in the month incurred and 40% are paid in the following month. What are the budgeted cash payments for July and August, respectively
Answer:
$336,000 and $414,000
Explanation:
The computation of the budgeted cash payments for July and August is shown below:
For July month
= 60% of $360,000 (July) = $216,000
And,
= 40% of $300,000(June)
= $120,000
Total = $336,000
For August
= 60% of $450,000(Aug)
= $270,000
And,
= 40% of $360,000(July)
= $144,000
Total = $414,000
Today is your birthday, and you decide to start saving for your college education. You will begin college on your 18th birthday and will need $4,000 per year at the end of each of the following 4 years. You will make a deposit 1 year from today in an account paying 12 percent annually and continue to make an identical deposit each year up to and including the year you begin college. If a deposit amount of $2,542.05 will allow you to reach your goal, what birthday are you celebrating today
Answer:
yes,a very simple celebration
Given the following cost and activity observations for Smithson Company's utilities, use the high-low method to calculate Smithson's fixed costs per month. Round your final answer to the nearest dollar. Do not round interim calculations. Cost Machine Hours January $26,000 10,500 February 37,100 17,700 March 29,000 11,500 April 30,900 15,300 a.$9,812 b.$16,680 c.$7,850 d.$31,398
Answer:
Fixed Cost = $9812.499999941 rounded off to $9812
Option A is the correct answer
Explanation:
The high-low method is used to separate the components of a mixed cost and it calculates the variable cost component in a mixed cost. The formula to calculate the variable cost per unit under the high-low method is as follows,
VC/unit = [Highest Activity cost - Lowest Activity Cost] / [Highest Activity units - Lowest Activity units]
VC/unit = [37100 - 26000] / [17700 - 10500]
VC/unit = 1.54166666667 rounded off to $1.54
The total fixed costs will be,
Fixed cost = 37100 - [1.54166666667 * 17700]
Fixed Cost = $9812.499999941 rounded off to $9812
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Answer:
Explanation:na
Select the examples that best demonstrate likely tasks for Health, Safety, and Environmental Management workers. Check all that apply.
Donovan inspects facilities, and enforces laws and regulations.
April drives a train safely and carefully.
Chuck collects samples of materials for analysis.
Leif repairs broken equipment in a factory.
Elise takes orders, and sells products to customers.
Shayla teaches others how to use equipment safely
Answer:
It is Donovan, Chuck, and Shayla. Or 1, 3, and 6. Or A, C, and F.
Explanation:
I just did the instruction on edge. Good luck finishing this year up :)
Answer:
136 is correct!
Explanation:
credits to the other person
What leads to excess demand?
A. More people want a good or service than producers can supply.
B. Prices for a good or service increase more than consumers are willing
to pay.
C. Sellers decrease the prices of their goods or services.
D. The supply of a good or service is equal to the amount consumers want.
The ending balance of accounts receivable was $84,000. Sales, adjusted to a cash basis using the direct method on the statement of cash flows, were $369,000. Sales reported on the income statement were $400,500. Based on this information, the beginning balance in accounts receivable was:
Answer: $52500
Explanation:
Based on the information given in the question, the beginning balance in accounts receivable will be calculated thus:
= Ending balance of account receivable + Sales adjusted to cahs basis - Sales reported on income statement
= $84000 + $369000 - $400500
= $52500
Therefore, the beginning balance in account receivable is $52500.
Assume Cluck Home Remedy reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,730,200 $ 1,380,920 Allowance for Doubtful Accounts (96,000 ) (79,900 ) Accounts Receivable, Net $ 1,634,200 $ 1,301,020 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019
Answer: $16100
Explanation:
From the information given, we should note that the amount of bad debt expense reported in 2019 will be:
= Ending balance of the allowance account - Bginning balance of the allowance account.
= $96000 - $79900
= $16100
Therefore, the bad debt expense is $16100
Suppose the Federal Reserve sets the reserve requirement at 14%, banks hold no excess reserves, and no additional currency is held. Instructions: In part a, round your answer to 1 decimal place. In parts b and c, enter your answers as a whole number. If you are entering a negative number include a minus sign. a. What is the money multiplier
Answer:
7.1%
Explanation:
Money multiplier measures the total increase in money multiplier
Money multiplier =1 / reserve requirement
1 / 14% = 7,1%
Income statement under absorption costing and variable costing
The following information applies to the questions displayed below.
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $140 per unit.
Manufacturing costs
Direct materials per unit $60
Direct labor per unit $22
Variable overhead per unit $8
Fixed overhead for the year $504,000
Selling and administrative costs
Variable selling and administrative cost per unit $12
Fixed selling and administrative cost per year $115,000
1a. Assume the company uses absorption costing. Determine its product cost per unit.
1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing.
2a. Assume the company uses variable costing. Determine its product cost per unit.
2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing.
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
1)
First, we need to calculate the unitary fixed manufacturing overhead:
Fixed unitary manufacturing overhead= 504,000 / 42,000= $12
Now, the unitary production cost under the absorption costing method:
Unitary production cost= 60 + 22 + 8 + 12= $102
Finally, the income statement:
Sales= 34,000*140= 4,760,000
COGS= 34,000*102= (3,468,000)
Gross profit= 1,292,000
Total selling and administrative cost= 115,000 + 34,000*12= (523,000)
Net operating income= 769,000
2)
Unitary production cost= 60 + 22 + 8= $90
Now, the income statement:
Sales= 4,760,000
Total variable cost= (90 + 12)*34,000= (3,468,000)
Total contribution margin= 1,292,000
Total fixed overhead= (504,000)
Total selling and administrative cost= (115,000)
Net operating income= 673,000
Honey Bell Corporation has the following information about its Eclipse Product: Honey Bell Corporation Eclipse Product Expected Sales 10,000 units Direct material and labor costs $ 150 per unit Variable manufacturing overhead $ 20 per unit Fixed manufacturing overhead $ 300,000 Fixed selling and administrative expenses $ 150,000 Average operating assets $ 2,000,000 Required return on investment 20 % What is the amount of the markup percentage on the absorption cost that should be used to derive the selling price of this product
Answer:
Mark- up = 23.3%
Explanation:
Absorption costing is method of costing where overheads are charged to units produced using volume-based bases. e.g machine hours, labour hours e.t.c. Units are valued using full cost per unit
Full cost per unit= Direct material cost + direct labor cost + Variable production overhead + Fixed production overhead
Fixed production overhead = Budgeted overhead/Budgeted production units
Fixed production overhead = $300,000/150,000 units=2
Total cost = 150 + 20 + 2= $172
Total cost per unit using absorption costing = $172
Desired ROI = 20%. × 2,000,000= $400,000
Profit per unit = 400,000/10,000 units =40
Mark- up = Profit/Cost = 40/172× 100 = 23.3%
Mark- up = 23.3%
Take a deck of playing cards and remove the aces, jacks, queens, kings, and jokers. Imagine that any remaining card in the deck is a single individual, either a seller or a consumer, and all are gathered at a single perfectly competitive market. Red cards are sellers, and black cards are consumers. The number on a card indicates the individual's WTP or MC. Each seller owns a single unit of an indivisible good. Each consumer can buy at most one unit of the good from a seller. Then the market outcome will be
Answer:
the equilibrium price is 6 and units sold is 10
Explanation:
In the case when we eliminate all the jacks, queens, aces and kings we have a total of 36 card that left with the numbers from 2 to 10
also there are 18 red card of sellers and 18 black card of buyers
Now the following table should be prepared
Price Quantity demanded Quantity supplied
2 18 2
3 16 4
4 14 6
5 12 8
6 10 10
7 8 12
8 6 14
9 4 16
10 2 19
As we can see that at the price of 6 the quantity demanded would be equivalent to the quantity supplied
So, the equilibrium price is 6 and units sold is 10
You have been hired by KOKO MESSIAH GROUP to lead its local and international expansion efforts. Considering that KOKO MESSIAH GROUP already has products which its markets on a small scale locally, it has become imperative that it makes additions to its current product variants, as well as promote these new and existing products in markets other than its existing markets. Propose four relevant strategies and the key marketing mix decisions you have to make in achieving its expansion objectives.
Answer:
Explanation:
The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market. It consists of everything that a company can do to influence demand for its product. It is also a tool to help marketing planning and execution.
The four Ps of marketing: product, price, place and promotion
The marketing mix can be divided into four groups of variables commonly known as the four Ps:
Product: The goods and/or services offered by a company to its customers.
Price: The amount of money paid by customers to purchase the product.
Place (or distribution): The activities that make the product available to consumers.
Promotion: The activities that communicate the product’s features and benefits and persuade customers to purchase the product.
Marketing tools
Each of the four Ps has its own tools to contribute to the marketing mix:
Product: variety, quality, design, features, brand name, packaging, services
Price: list price, discounts, allowance, payment period, credit terms
Place: channels, coverage, assortments, locations, inventory, transportation, logistics
Promotion: advertising, personal selling, sales promotion, public relations
Marketing strategy
An effective marketing strategy combines the 4 Ps of the marketing mix. It is designed to meet the company’s marketing objectives by providing its customers with value.
The 4 Ps of the marketing mix are related, and combine to establish the product’s position within its target markets.
When the money market is drawn with the value of money on the vertical axis, an increase in the money supply causes the equilibrium value of money Group of answer choices to decrease, while the equilibrium quantity of money increases. and equilibrium quantity of money to decrease. and equilibrium quantity of money to increase. to increase, while the equilibrium quantity of money decreases.
Answer:
to decrease, while the equilibrium quantity of money increases.
Explanation:
an increase in money supply, leads to a rightward shift of the money supply curve. As a result, interest rate falls. money supply increases. There is an increase in equilibrium money supply but equilibrium value falls
Assume that the banking system has total reserves of $100 billion. Assume also that required reserves are 10 percent of checking deposits and that banks hold no excess reserves and households hold no currency. a. What is the money multiplier
Answer:
1. Money multiplier 10
2. Money supply 1000 billion dollars.
3. change in reserves 500 billion dollars
4. Change in money supply 500 billion dollars
Explanation:
1. Calculation to determine the money multiplier
Money multiplier = 1 / 0.1
Money multiplier= 10
2. Calculation to determine The money supply
Money supply =10 x 100 billion dollars
Money supply = 1000 billion dollars.
3. Calculation to determine the change in reserves and the change in the money supply
First step is to calculate the money multiplier wmoney multiplier= 1/ 0.20 = 5
Now let calculate the change in reserves
change in reserves = 100 billion dollars x 5
change in reserves = 500 billion dollars
4. Decline in the money supply =1000 billion dollars - 500 billion dollars = 500 billion dollars.
ABC company is an all equity company and has 100,000 shares outstanding with a market price of $30 per share. It is considering alternative capital structures that use debt. If the company replaces 25% of its shares with debt, how much would be the total market value of the company under the new capital structure
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Select the communication type that is being used in the following example.
Two coworkers near the copy machine are discussing the upcoming company meeting.
o external formal communication
o external informal communication
O internal formal communication
O internal informal communication
Thing
Answer:
When the federal government spends more money than it receives in taxes in a ... spending over time in nominal dollars is misleading because it does not take ... defense spending as a share of GDP has generally declined since the 1960s, ... Healthcare expenditures include both payments for senior citizens (Medicare), ...
Explanation:
Nancy Fur Supply has been selling fur coats to Patricia's Fur Shop pursuant to an existing contract. The price of fur pelts goes up sharply and Nancy concludes that she can no longer continue to supply the coats to Patricia's at the agreed price. Nancy asks Patricia to agree to a 10 percent increase in the price of the coats and Patricia agrees but then later changes her mind and refuses to pay the additional 10%. In that case, Patricia:
Answer:
In that case, Patricia:
is still liable to pay the additional 10%.
Explanation:
The 10% price increase was preceded by an agreement between the two parties. Patricia is bound to honor her agreements with her business partner to sustain the business relationship. Refusing to pay a debt just by a change of mind does not repudiate the contract. Nancy can enforce the agreement in the court for specific performance of the contract because this additional agreement simply modifies the earlier contract and remains enforceable.
QUESTION 16
You are a school photographer taking individual and class pictures for 2 classes of 21 students each. On average, each individual picture
takes 3 minutes and a class picture takes 10 minutes. About how long should it take you to get all of the pictures?
O A 1 hour 3 minutes
OB. 1 hour 13 minutes
OC. 2 hours 6 minutes
OD. 2 hours 16 minutes
OE 2 hours 26 minutes
