Answer:
The central government is, essentially, the public body in charge of managing the nation's resources and controlling compliance with the laws. In other words, it applies its power within the entire national territory, but in turn delegating certain powers to state and local governments, which have a much stronger contact with the population of cities and states. Thus, within the regional development process in each nation, local and state governments are the main executors of development policies, but with the supervision and guidance of central governments.
Piedmont Company purchased merchandise on account from a supplier for $40000, terms 1/10, n/30. Piedmont Company returned $6000 of the merchandise and received full credit.If Piedmont Company pays the invoice within the discount period, what is the amount of cash required for the payment
Answer is in a photo. I can only upload it to a file hosting service. link below!
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Which of the following statements about cash versus accrual accounting is most correct? A. In cash accounting, an event is recognized when a cash transaction occurs. B. In accrual accounting, an event is recognized when a cash transaction occurs. C. Most large healthcare organizations use cash accounting because it presents a better picture of the economic status of the organization. D. Most small healthcare organizations use accrual accounting because it closely matches statements required for income tax purposes. E. In cash accounting, an event is recognized when the obligation for a cash transaction is created.
Answer:
In cash accounting, an event is recognized when a cash transaction occurs
Explanation:
Account
This is simply a place to summarize all of the transactions that influence or affect one particular asset, liability, equity, revenue, expense, gain, or loss item.Cash are said to be asset.
Cash Accounting (COST)
This usually show (recognize) revenues and expenses when cash is physically paid or received even if or when transaction do happens. That is it will record only those transactions that affect cash ( only when someone gives or receives cash). It is very common in smaller business and can be a little inaccurate.
Accrual Accounting on the other hand, record revenue when sale is made and not when cash received. It also records expense when they arise and not when they are paid. It links revenues to when they were earned, while expenses when they are incurred. It is very common in bigger business and said to be more accurate indication of performance.
Tidewater, Inc., requires its job applicants to take a test that measures their vocabulary and numerical skills. For specific jobs, the company also requires its applicants to perform a sample of the job. Before implementing the tests, the management analyzes how well the test actually correlates and predicts job performance. When Tidewater needed to downsize, the company helped employees who were laid off to get placed in other organizations, and immediate supervisors talked to the employees about the reasons for their dismissal. When the job applicants for specific jobs are asked to execute a sample of the job, the company is utilizing a(n) ________ test.
Answer: performance
Explanation:
When the job applicants for specific jobs are told to perform a sample of the job, this implies that the company is using a performance test.
Performance test simply refers to a test that requires the individuals partaking in it to perform an activity using their skills, ability and knowledge.
Kayla is an accountant who donates her services to the Allegro Chorale, a nonprofit arts organization in Odessa, Texas. Kayla prepares monthly financial statements for Allegro for all of the following reasons EXCEPT _______. a. Kayla can identify underserved marketing segments and recruit them to join the Allegro Chorale b. Kayla can generate awareness of and long-term benefits for the Allegro Chorale c. donated services create goodwill d. donating her services helps Marci make personal contacts in the community
Answer: a. Kayla can identify underserved marketing segments and recruit them to join the Allegro Chorale
Explanation:
Some of the reasons why Kayla prepares the monthly financial statement will be to create goodwill, and help generate long term awareness for the organization.
We should note that the identification of underserved marketing segments and then recruiting them to join the Allegro Chorale isn't the role of Kayla, therefore this isn't one of the reason that she's preparing the financial statement.
Which of the following explains why people became more malnourished after society started relying on agriculture
rather than hunting and gathering?
Commodities were exchanged using money, which was not equally available.
Commodities were often difficult to grow in areas where conditions suited societies
Commodities were controlled by the social elite and the food was not divided evenly
Commodities were found to be too much work for too little money so few people grew crops
Answer:
the answer would be the second one :)
Indicate the missing amount for each letter (a) through (i). Case A Case B Case C Direct materials used $ (a) $72,720 $131,700 Direct labor 59,280 90,560 (g) Manufacturing overhead 49,120 82,680 105,500 Total manufacturing costs 199,600 (d) 255,700 Work in process 1/1/20 (b) 17,110 (h) Total cost of work in process 226,310 (e) 339,900 Work in process 12/31/20 (c) 13,240 71,550 Cost of goods manufactured 188,400 (f)
Answer:
Case A Case B Case C
Direct materials used $ 91,200 $72,720 $131,700
Direct labor 59,280 90,560 18,500
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 245,960 255,700
Work in process 1/1/20 26,710 17,110 84,200
Total cost of work in process 226,310 263,070 339,900
Work in process 12/31/20 37,910 13,240 71,550
Cost of goods manufactured 188,400 249,830 268,350
Explanation:
Given:
Case A Case B Case C
Direct materials used $ (a) $72,720 $131,700
Direct labor 59,280 90,560 (g)
Manufacturing overhead 49,120 82,680 105,500
Total manufacturing costs 199,600 (d) 255,700
Work in process 1/1/20 (b) 17,110 (h)
Total cost of work in process 226,310 (e) 339,900
Work in process 12/31/20 (c) 13,240 71,550
Cost of goods manufactured 188,400 (f) (i)
Therefore, we have:
Case A
a. Direct materials used = Total manufacturing costs - Direct labor - Manufacturing overhead = 199,600 - 59,280 - 49,120 = 91,200
b. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 226,310 - 199,600 = 26,710
c. Work in process 12/31/20 = Total cost of work in process - Cost of goods manufactured = 226,310 - 188,400 = 37,910
Case B
d. Total manufacturing costs = Direct materials used + Direct labor + Manufacturing overhead = 72,720 + 90,560 + 82,680 = 245,960
e. Total cost of work in process = Total manufacturing costs + Work in process 1/1/20 = 245,960 + 17,110 = 263,070
f. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 263,070 - 13,240 = 249,830
Case C
g. Direct labor = Total manufacturing costs - Direct materials used - Manufacturing overhead = 255,700 - 131,700 - 105,500 = 18,500
h. Work in process 1/1/20 = Total cost of work in process - Total manufacturing costs = 339,900 - 255,700 = 84,200
i. Cost of goods manufactured = Total cost of work in process - Work in process 12/31/20 = 339,900 - 71,550 = 268,350
Good Night, Inc., manufactures comforters. The estimated inventories on January 1 for finished goods, work in process, and materials were $51,000, $28,000, and $33,000, respectively. The desired inventories on December 31 for finished goods, work in process, and materials were $48,000, $35,000, and $29,000, respectively. Direct materials purchases were $555,000. Direct labor was $252,000 for the year. Factory overhead was $176,000. Prepare a cost of goods sold budget for Good Night, Inc.
Answer:
Good Night, Inc.
Cost of goods sold budget
Beginning Finished Goods Inventory $51,000
Add Cost of Goods Manufactured $980,000
Less Ending Finished Goods Inventory ($48,000)
Cost of goods sold $947,000
Explanation:
Step 1 : Determine the Direct Materials used in Production
Beginning Materials Inventory $33,000
Add Material Purchases $555,000
Less Ending Materials Inventory ($29,000)
Direct Materials used in Production $559,000
Step 2 : Determine the Cost of Goods Manufactured
Beginning Work In Process Inventory $28,000
Add Manufacturing Costs :
Direct Materials used $559,000
Direct labor $252,000
Factory overhead $176,000 $987,000
Less Ending Work In Process Inventory ($35,000)
Cost of Goods Manufactured $980,000
Step 3 : Prepare the Cost of goods sold budget
Beginning Finished Goods Inventory $51,000
Add Cost of Goods Manufactured $980,000
Less Ending Finished Goods Inventory ($48,000)
Cost of goods sold $947,000
One of the departments at Yolo Industries has entered into a 9 year lease for a piece of equipment. The annual payment under the lease will be $3,800, with payments being made at the beginning of each year. If the discount rate is 12%, the present value of the lease payments is closest to (Ignore income taxes.): Click here to view Exhibit 14B-1 and Exhibit 14B-2, to determine the appropriate discount factor(s) using the tables provided.
Answer:
PV= $22,677.03
Explanation:
Giving the following formula:
Number of periods (n)= 9 years
Annual payment (A)= $3,800
Discount rate (i)= 12%
First, we will calculate the future value of the payments using the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= {3,800*[(1.12^9) - 1]} / 0.12 + {[3,800*(1.12^9)] - 3,800}
FV= 56,147.49 + 6,737.7
FV= $62,885.19
Now, the present value:
PV= FV / (1 + i)^n
PV= 62,885.19 / (1.12^9)
PV= $22,677.03
On January 1, 2017, Clayton Company issues $640,000, 15 year, 8% bonds (paying semiannual interest on 6/30 and 12/31) for $765,443, when the annual market rate of interest is 6%. If the company uses the effective interest method of amortization, what will be the amount of interest expense recorded on the December 31, 2017 Income Statement? (HINT: Will include the total interest expense recorded with both the June 30 payment and the December 31 payment).
Answer:
Clayton Company
The amount of interest expense recorded on the December 31, 2017 Income Statement is:
= $45,847
Explanation:
a) Data and Calculations:
Face value of bonds = $640,000
Issue price = $765,433
Premium on bonds = $125,433
Bonds maturity period = 15 years
Interest rate on the bonds = 8%
Annual market rate of interest = 6%
Interest expense for the first year:
June 30, 2017:
Amount of semi-annual interest payment = $25,600 ($640,000 * 4%)
Semi-annual Interest expense = $22,963 ($765,433 * 3%)
Amortization of bonds premium = $2,637
Carrying value of bonds on June 30, 2017 = $762,796 ($765,433 - $2,637)
December 31, 2017:
Amount of semi-annual interest payment = $25,600 ($640,000 * 4%)
Semi-annual Interest expense = $22,884 ($762,796 * 3%)
Amortization of bonds premium = $2,716
Carrying value of bonds on December 31, 2017 = $760,080 ($762,796 - $2,716)
Total interest expense for the year:
June 30, 2017: Semi-annual Interest expense = $22,963
December 31: Semi-annual Interest expense = $22,884
Total interest to be recorded on 12/31/2017 = $45,847
Break-Even Sales Currently, the unit selling price of a product is $1,350, the unit variable cost is $900, and the total fixed costs are $810,000. A proposal is being evaluated to increase the unit selling price to $1,400. a. Compute the current break-even sales (units). fill in the blank 1 units b. Compute the anticipated break-even sales (units), assuming that the unit selling price is increased and all costs remain constant.
Answer:
(A). 1,800 units
(B). 1,620 units
Explanation:
(A). We can calculate the break-even sales by using following formula,
Current break-even sale (Unit) = Fixed cost ÷ Contribution margin/unit
Where, Fixed cost = $810,000
Contribution margin/unit = Unit sell price - Unit variable cost
= $1,350 - $900 = $450
By putting the above value in the formula, we get
Current break-even sale (Unit) = $810,000 ÷ $450
= 1,800units
(B). Similarly, we can calculate the anticipated break-even sales by using following formula:
Anticipated break-even sale(Unit) = Fixed cost ÷ Contribution margin/unit
Where, Fixed cost = $810,000
Contribution margin/unit = Unit sell price - Unit variable cost
= $1,400 - $900 = $500
By putting the above value in the formula, we get
Anticipated break-even sale(Unit) = $810,000 ÷ $500
= 1,620units
Determine the future value if $5,000 is invested in each of the following situations: 7 percent for seven years
sa inyo na points! :)
Answer:
THANK YOUUU
Explanation:
Have a nice day/nightt :)
Find below the financial statements for Kenning Corp. Income Statement Balance Sheet Sales $5,000 Assets $14,800 Debt $11,000 Costs 3,410 Equity 3,800 Net income $1,590 Total $14,800 Total $14,800 Assume no income taxes. Assets and costs are proportional to sales. Debt and equity are not. No dividends are paid and next year's sales are projected to be $5,970. What is the EFN?
Answer: $972.74
Explanation:
From the information given, the external finance is calculated thus:
Sales growth = ($5970 - $5000) / $5000 × 100 = $970/$5000 × 100 = 19.4%
Then, we calculate the net income which will be:
= Sales - Cost
= $5970 - ($3410 × 1.194)
= $5970 - $4071.54
= $1898.46
Total asset = $14800 × 1.194 = $17671.20
Total equity = $3800 + $1898.46 = $5698.46
External financing needed:
= Total assets - Total equity - Debt
= $17671.20 - $5698.46 - $11,000
= $972.74
45.18
What gives the US government the power to collect taxes?
o the Constitution
O laws passed by Congress
O an executive order
common law
Mark this and return
Save and Exit
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Submit
What gives the US government the right to collect taxes?
Question 2: DuPont method In year 2016, Apple Inc. had profit margin of 27.8% (i.e., it generated 27.8 cents of profit per dollar of sales) and asset turnover of 0.670 (i.e., it generated 67.0 cents of annual sales per dollar of assets). a) The profit margin indicates that Apple has low pricing power -- it cannot charge high prices relative to costs high production efficiency -- it has very low costs high pricing power -- it can charge high prices relative to costs The asset turnover indicates that Apple is extremely efficient in generating assets per dollar of sales extremely efficient in generating sales per dollar of assets relatively inefficient in generating sales per dollar of assets b) Compute Apple's return on investment (ROI) ROI
Answer and Explanation:
a. The profit margin represent that it could charge high prices that should be relative to the cost while on the other hand the asset turnover represent that it is relatively non-efficient for producing sales per asset dollar
b. Now the return on investment is
= Profit margin × asset turnover
= 27.8% × 0.670
= 18.6
The same would be relevant
Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. During the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. Cement Company uses the LIFO method to account for inventory. What is the correct journal entry to record cost of goods sold at the end of the first quarter
Answer:
Calculation of Cost of Goods sold under LIFO:
For 3,000 units (3000*40) $120,000
For 400 units (400*25) $10,000
Add: Excess of replacement cost over historical $8,000
cost of LIFO liquidation (400*(45-25))
Cost of Goods sold under LIFO $138,000
Journal entry
Date Account Titles and Explanation Debit Credit
Cost of Goods sold $138,000
Inventory (120000+10000) $130,000
Excess of replacement cost over $8,000
historical cost of LIFO liquidation
What would be the effects if a business didn't follow the matching principle?
As a bank loan officer, you are considering a loan application by Peak Performance Sporting Goods. The company has provided you with the following information: Cash $ 25,000 Accounts Receivable 45,000 Inventory 140,000 Fixed Assets 190,000 Current Liabilities 70,000 Long-term Liabilities 90,000 Peak Performance's debt to owners' equity ratio (rounded to the nearest tenth of a percent) is:
Answer:
66.7%
Explanation:
Calculation to determine Peak Performance's debt to owners' equity ratio
First step is to calculate the Owner's Equity using this formula
Owner's Equity=Total Assets - Total Liabilities
Where,
Total Assets =$25,000 + $45,000 + $140,000 + $190,000
Total Assets = $400,000
Total Liabilities =$70,000 + $90,000
Total Liabilities=$160,000
Let plug in the formula
Owner's Equity=$400,000-$160,000
Owner's Equity=$240,000
Now let Calculate the debt to owners equity ratio using this formula
Debt to owners equity ratio= Debt [total Liabilities]/Owner's Equity
Let plug in the formula
Debt to owners equity ratio = $160,000/$240,000
Debt to owners equity ratio = 0.667*100
Debt to owners equity ratio= 66.7%
Therefore Peak Performance's debt to owners' equity ratio is 66.7%
7. The price of a movie ticket goes from $7.00 to $8.50. What should happen to the demand for these tickets?
Answer: The price increses
Explanation: Goes t0 7.00 to 8.50 increses a 1.50
The demand has went up
What is the Internal Revenue Code?
A.) a collection of tax laws, their interpretations, and federal tax rulings
B.) a list of tax brackets and the percentages each person must pay
C.) a book used solely by tax accountants to help people complete their filings
D.) a passcode that citizens must have to file their taxes online
Internal Revenue Code is collection of tax laws, their interpretations, and federal tax rulings.
Option A is the correct answer
What is internal revenue code?The Internal Revenue Code are set of laws and rules created to guide tax related matters
It was created by revenue service for the public on tax payment.
Therefore, Internal Revenue Code is the collection of tax laws, their interpretations, and federal tax rulings
Learn more on tax below
https://brainly.com/question/26316390
#SPJ9
A college graduate has gotten a job that requires frequent travel to different schools around the country. These schools hire her to help them create healthier meals in their cafeterias. She creates a full menu for each school and shows the school the nutritional benefits of each food.
Which two types of careers are part of this college graduate's job?
A. Education and sales
B. Food service and transportation
C. Sales and management
D. Education and food service
D. Education and food services :)
i got it right
The two careers that are part of this graduate's job to travel around the nation and create healthier meals are D. Education and food service.
What two careers are part of this job?Education is one career because the college graduate will have to teach the staff in the schools she goes to, the nutritional benefits of the meals she suggests.
Food service is also involved in order to know which foods are best for the students.
#SPJ5
Find out more on food career choices at https://brainly.com/question/13243326.
Saturn Industries purchased and consumed 64,000 gallons of direct material that was used in the production of 17,000 finished units of product. According to engineering specifications, each finished unit had a manufacturing standard of four gallons. If a review of Saturn's accounting records at the end of the period disclosed a material price variance of $6,400U and a material quantity variance of $2,800F, what is the actual price paid for a gallon of direct material
Answer:
The actual price = $1.08
Explanation:
The standard material price can be worked out as follows:
Step 1: Work out the standard price of material using the material usage variance
Standard price = Material usage variance/(standard quantity of material - actual quantity)
Standard quantity of material = standard qty per unit × actual production
= 4 × 17,000 =68,000
Standard price = 2,800/(68,000-64,000)= $0.7
Step 2 : Work out the Actual material price using the material price variance
Material price variance = (Standard price - Actual price )× Actual quantity of material
6,400 = (y - 0.7) × 17,000
6400 = 17,000y - 11,900
17,000 y = 6,400 + 11,900
y = 18,300/17,000= 1.08
The actual price = $1.08
On August 2, Jun Co. receives a $6,300, 90-day, 12% note from customer Ryan Albany as payment on his $6,300 account receivable. 1. Compute the maturity date for the above note. multiple choice October 29 October 30 October 31 November 1 November 2
Answer: October 31
Explanation:
It is a 90 day Note so the maturity date will be:
= August 2 + the remaining 29 days in August + 30 days in September + 31 days in October
= October 31
The expiry date will be October 31 as this would be 90 days from August 2, when the note was received.
Mongar Corporation applies manufacturing overhead to products on the basis of standard machine-hours. Budgeted and actual overhead costs for the most recent month appear below: Original Budget Actual Costs Variable overhead costs: Supplies $ 7,980 $ 8,230 Indirect labor 29,820 29,610 Total variable manufacturing overhead cost $ 37,800 $ 37,840 The original budget was based on 4,200 machine-hours. The company actually worked 4,350 machine-hours during the month and the standard hours allowed for the actual output were 4,190 machine-hours. What was the overall variable overhead efficiency variance for the month
Answer:
Variable overhead variance = $1,440 unfavorable
Explanation:
The variable overhead efficiency variance is the difference between the actual hours and the standard hours for the actual output valued at the standard variable overhead rate per hour.
Machine hours
standard hours for the actual output 4,190
Actual hours 4,350
Efficiency variance 160 unfavorable
Standard rate per hour(see note) × $9
Variable overhead variance 1,440 unfavorable
Standard variable rate per machine hour
= Budgeted overhead cost/Budgeted machine hour s
= $37,800/4,200 hours =$9 per machine hour
Variable overhead variance = $1,440 unfavorable
In the Assembly Department of Concord Company, budgeted and actual manufacturing overhead costs for the month of April 2020 were as follows. Budget Actual Indirect materials $15,700 $15,100 Indirect labor 21,900 22,500 Utilities 10,100 10,900 Supervision 5,900 5,900 All costs are controllable by the department manager. Prepare a responsibility report for April for the cost center.
Answer: See explanation
Explanation:
The responsibility report for April for the cost center is analysed below:
CONCORD COMPANY
Manufacturing Overhead Cost Responsibility Report For the Month Ended April 30, 2020
Controllable Cost Budget Actual.
Difference
Indirect materials $15,700 $15,100 $600 Favorable
Indirect labor 21,900 22,500 600 Unfavorable
Utilities 10,100 10,900 800 Unfavorable
Supervision 5,900 5,900 0
You think the price of AMZN stock, which is currently $900 is likely to change significantly over the next three months, you are just not sure which direction. So you buy a long strangle position, with a call and put option, worth $10 and $3 per share, respectively, three months to expiration, and strike prices of 910 (call) and 890 (put). If at expiration AMZN is trading at $865, what is your net profit per share
How would I put the reason I left my job simply and professionally if this was the reason: I left my job due to my drivers ed schedule interfering with my work schedule, I was also not able to get to and from work since my dad couldn't take me there all the time.
Kacchan whats a Bakudeku?????
Answer:
It's a ship between two boys Izuku Midoriya and Bakugou Katsuki GAYYYYYYYYYY anyways i support and have you watched season 5 yet
Explanation:
The ship of Izuku Midoriya x Katsuki Bakugo. It’s also referred to as Katsudeku.
(This is one of the best ships in the whole anime imo, I fully support it)
Help! Will give brainliest to the first correct answer!
Answer:
1. Four years college degree
2. An on job training experience
3. an endorsement from a professional, nongovernment organization
4. 2 year college degree
5. Earned after masters or bachelors degree
Explanation:
Hope that helps
Rex and Dena are married and have two children, Michelle (age seven) and Nancy (age five). During 2020, Rex earned a salary of $28,500, received interest income of $300, and filed a joint income tax return with Dena. Dena had $0 gross income. Their earned income credit for the year is: $___________
Answer:
$5,171
Explanation:
Rex and Dana have two children, and their earned income is less than $53,330, that means that they can receive the earned income tax credit. using the Earned Income Credit table for Form 1040, the couple's income falls between $28,750 - $28,800, they have 2 children, and file as married: the EITC = 5,171.
The maximum amount is $5,920 but it starts to phase out after $19,330.
