Answer:
To be able to charge more due to fees and interest.
Explanation:
I believe this is the answer because the aim of a business is to gain as much profit as possible and to provide quality products. So by allowing customers to use credit cards, you are gaining more money from charging fees and interest.
To be willing to charge more than that to cover penalties and charges.
Because accepting credit cards allows sellers to get payments at around a similar time as credit selling. As a result, the vendor could indeed insistence on charging more owing to interest payments.Even though all of the other possibilities are correct, the one in which they seek to impose higher charges is false.
Thus the above response i.e., "option a" is correct.
Learn more:
https://brainly.com/question/20630627
Rojas Corporation’s comparative balance sheets are presented below.
ROJAS CORPORATION
Comparative Balance Sheets
December 31
2017
2016
Cash
$ 14,600
$ 10,600
Accounts receivable
21,600
23,400
Land
20,400
26,000
Buildings
70,100
70,100
Accumulated depreciation—buildings
(15,000
)
(10,500
)
Total
$111,700
$119,600
Accounts payable
$ 12,700
$ 28,300
Common stock
75,200
71,200
Retained earnings
23,800
20,100
Total
$111,700
$119,600
Additional information:
1. Net income was $22,500. Dividends declared and paid were $18,800.
2. No noncash investing and financing activities occurred during 2017.
3. The land was sold for cash of $4,500.
Rojas Corporation’s comparative balance sheets are
Rojas Corporation’s comparative balance sheets are
(a) Prepare a statement of cash flows for 2017 using the indirect method. (Show amounts that decrease cash flow with either a - sign e.g. -15,000, or in parenthesis e.g. (15,000).)
Compute free cash flow. (Enter negative amount using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Answer:
Excerpt from Duty, Honor, Country / Every Man a King
General Douglas MacArthur / Huey P. Long
Duty, Honor, Country / Every Man a King
By: General Douglas MacArthur / Huey P. Long
Explanation:
A balance sheet is a financial statement that lists the assets and liabilities of a corporation at a certain point in time.
What is balance sheet?It is one of the three primary financial statements—the other two being the income statement and cash flow statement—that are used to assess a company's performance.
Investors and other stakeholders can use a balance sheet as a reference to assess an organization's financial standing. They can use it to compare current assets and liabilities to assess the company's liquidity or evaluate its return on investment.
Stakeholders can also comprehend the company's prospects with the help of this information. A balance sheet is a financial statement that lists the assets and liabilities of a corporation at a certain point in time.
Therefore, A balance sheet is a financial statement that lists the assets and liabilities of a corporation at a certain point in time.
To learn more about balance sheet, refer to the link:
https://brainly.com/question/26323001
#SPJ5
Data for Hermann Corporation are shown below:
Per unit Percentage of sale
Selling price $75 100%
expenses 51 68
contribution margin 24% 32%
Fixed expenses are $75,000 per month and the company is selling 4,000 units per month.
Required:
a. How much will net operating income increase (decrease) per month if the company uses higher-quality components that increase the variable expense by $4 per unit and increase unit sales by 25%.
b. Should the higher-quality components be used?
Answer:
Instructions are below.
Explanation:
Giving the following information:
Selling price= $75
expenses= $51
contribution margin= $24
Fixed expenses are $75,000 per month and the company is selling 4,000 units per month.
Higher quality:
Variable cost= $55
Increase in sales= 4,000*1.25= 5,000
First, we need to determine the effect on the income:
Effect on income= 1,000*(75 - 55) - 4,000*4
Effect on income= $4,000 increase
The higher quality component should be used because of income increase.
22. Communication that takes place between a manager and employees of other workgroups is called ………… communication.
23. Business depends on communication.
True or False
24. For many businesses and non-profit and government organizations, communication and information are not important to survive.
True or False
25. Strong communication skills are NOT vital for professionals in the business world.
True or False
26. Nonverbal communication means that a message is written rather than spoken.
True or False
27. Effective communication is a key to success in business.
True or False
28. Communication ability consistently ranks last among the skills that employers look for in college graduates.
True or False
29. Because of automation and restructuring, managers are likely to take care of their own writing, data entry, and phone calls rather than relying on secretarial support.
True or False
30. Form letters can be used in all business writing situations.
True or False
31. The higher you rise in an organization, the less you will be able to rely on form letters.
True or False
32. Form letters are a good solution for high-level professionals who need to deal with non-routine situations quickly and efficiently.
True or False
33. Communication is the exchange of information between a sender and a receiver.
True or False
34. In organizations, only top managers are sources of information or messages.
True or False
35. Encoding is the receiver's response to the sender's message.
True or False
36. The terms verbal communication and oral communications are interchangeable.
True or False
37. Communication must include a verbal component.
True or False
37. Decoding is the process of converting a message into symbols that people will understand.
True or False
38. The main advantage of written communication is that it provides a permanent record of a message.
True or False
39. Communication outside an organization is more important than communication inside an organization
True or False
40. The goal of establishing a favourable relationship between the sender and the receiver is appropriate for internal communication but not the external communication
True or False
Answer:
xffggyyhh bbhhhhhhhhhgfddf
Carlberg Co.’s March 31 inventory of raw materials is $105,000. Raw materials purchases in April are $590,000, and factory payroll cost in April is $428,000. Overhead costs incurred in April are: indirect materials, $90,000; indirect labor, $38,000; factory rent, $70,000; factory utilities, $29,000; and factory equipment depreciation, $56,000. The predetermined overhead rate is 70% of direct labor cost. Job 306 is sold for $760,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 39,000 $ 50,000 Direct labor 30,000 23,000 Applied overhead 21,000 16,100 Costs during April Direct materials 145,000 235,000 $ 110,000 Direct labor 105,000 175,000 110,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process
Answer:
Job 306 is Cost of Goods Sold 403,500
Job 307 is Finished Goods Inventory 621,600
Job 308 Is Goods Still in Process 287,000
Explanation:
Carlberg Co.
Cost of Goods Manufactured
For the Month of April
Opening Inventory Raw Materials $105,000
Purchases Raw Materials $ 590,000
Less Ending Inventory $ 205,000
Direct Materials Used 490,000 (145,000+235,000 + $ 110,000 )
Direct Labor 390,000 (105,000+ 175,000 + 110,000)
Applied Overhead (70% of DL) 273,000
Total Manufacturing Costs $ 1153,000
Add Work in Process Mar 31 169,100
Cost of Goods Available For Manufacture 1322,100
Less Work in Process April 30 287,000
Cost of Goods Manufactured $1035,100
We add the balances to get the required figures and then find out the cost of goods manufactured.
31 March Balances
Job 306 Job 307 Job 308
Direct materials $ 39,000 $ 50,000 ----
Direct labor 30,000 23,000 -----
Applied overhead 21,000 16,100 -----
Beginning WIP 80,000 89,100
Costs during April
Direct materials 145,000 235,000 $ 110,000
Direct labor 105,000 175,000 110,000
Applied overhead 73,500 122,500 77,000
Costs Added In April 323,500 532,500 287,000
Total Costs 403,500 621,600 287,000
Status On April 30 Finished Finished In Process
(sold) (unsold)
Cost Of Goods Finished Goods Goods In Process
Sold Inventory
Job 306 is Cost of Goods Sold
Job 307 is Finished Goods Inventory
Job 308 Is Goods Still in Process
Buckeye Incorporated had the following trial balance at the beginning of November.BUCKEYE INCORPORATEDTrail BalanceAccounts Debits CreditsCash $ 2,800Accounts Receivable 800Supplies 1,200Equipment 9,000Accounts Payable $ 1,500Notes Payable 2,100Common Stock 5,100Retained Earnings 5,100--------------------------------------------------------------------------------The following transactions occur in November:November 1 Issue common stock in exchange for $13,000 cash.November 2 Purchase equipment with a long-term note for $4,300 from Spartan Corporation.November 4 Purchase supplies for $2,000 on account.November 10 Provide services to customers on account for $10,000.November 15 Pay creditors on account, $2,000.November 20 Pay employees $3,500 for the first half of the month.November 22 Provide services to customers for $12,100 cash.November 24 Pay $3,000 on the note from Spartan Corporation.November 26 Collect $5,000 on account from customers.November 28 Pay $1,900 to the local utility company for November gas and electricity.November 30 Pay $4,600 rent for November.Record each transaction in a general journal
Answer:
Explanation:
November 1 Issue common stock in exchange for $13,000 cash.
Debit Cash 13,000
Credit Common Stock 13,000
November 2 Purchase equipment with a long-term note for $4,300 from Spartan Corporation.
Debit Equipment 4,300
Credit Note Payable 4,300
November 4 Purchase supplies for $2,000 on account.
Debit Supplies 2,000
Credit Accounts Payable 2,000
November 10 Provide services to customers on account for $10,000.
Debit Accounts receivable 10,000
Credit Service Revenue 10,000
November 15 Pay creditors on account, $2,000.
Debit Accounts payable 2,000
Credit Cash 2,000
November 20 Pay employees $3,500 for the first half of the month.
Debit Salary Expense 3,500
Credit Cash 3,500
November 22 Provide services to customers for $12,100 cash.
Debit Cash 12,100
Credit service revenue 12,100
November 24 Pay $3,000 on the note from Spartan Corporation.
Debit Note payable 3,000
Credit Cash 3,000
November 26 Collect $5,000 on account from customers.
Debit Cash 5,000
Credit Accounts receivable 5,000
November 28 Pay $1,900 to the local utility company for November gas and electricity.
Debit Utility expense 1,900
Credit cash 1,900
November 30 Pay $4,600 rent for November.
Debit rent expense 4,600
Credit cash 4,600
Akwamba made this statement ‘organisations cannot be successful if managers fail to pay attention to the forces in the external environment’. Do you agree or not? Justify using practical examples (9 marks)
Answer:
Yes, I agree.
Find explanation below.
Explanation:
The external environment of a business simply refers to the factors found outside the business which can have a profound effect on it. There are basically two types of external environments, namely;
1. The directly interactive which has a direct impact on the business. Examples include, business owners, the customers, contractors, and competitors.
2. Indirectly interactive whose impact on the business is not immediate. Examples include, the political , socio-cultural, economic influences among others.
Practical Examples:
1. Customers play a crucial role to the running of businesses. Managers must take care to listen to the concerns of the customers and attend to their needs urgently. For example, if a customer complains about his dissatisfaction with a style of service, managers should endeavor to address the concern to avoid losing the customer.
2.Political: Government rules and regulations have an impact on businesses because, not adhering to them could lead to sanctions and even closure of the business. Managers must ensure that they heed to and comply with governmental instructions, such as tax payment.
what does non current assets mean
Answer:
assets whose value is not realized in the current year
Explanation:
A noncurrent asset is generally a long-term investment whose value will not be fully realized in the current accounting year. The cost of the asset is allocated over the period the asset is in use, rather than being expensed in the year it is acquired.
Choose the correct answer in the following statements about financial and real assets.
a. Toyota takes out a bank loan to finance the construction of a new factory.
Toyota (Click to select) a (Click to select) asset—the factory. The loan is a (Click to select) asset that is (Click to select) in the transaction.
b. Toyota pays off its loan. Fies When the loan is repaid, the (Click to select) asset is (Cick to select) but the Click to select) 9 asset continues to exist
c. Toyota uses $10 million of cash on hand to purchase additional inventory of spare auto parts. The cash is a (Click to select asset that is traded in exchange for a ICk toslet asset, inventory
Answer: Please refer to Explanation
Explanation:
A financial asset is a non-physical asset that that gets it's value from a contract that was signed by the parties involved. Financial assets include Bonds, stocks and even cash amongst others.
Real Assets on the other hand are physical assets that can be seen and hence have an inherent value. Examples include buildings and cars.
a. Toyota creates a real asset- the factory. The loan is a financial asset that is created in the transaction.
The factory becomes a real Asset that is tangible and has an inherent value. The loan was created by an agreement between Toyota and the bank and so is a Financial Asset.
b. When the loan is repaid, the financial asset is destroyed but the real asset continues to exist.
When the loan is repaid, Toyota no longer owns that financial asset because it has gone back to the bank. However, the Real Asset which is the factory that they were able to build will remain with Toyota.
c. The cash is a financial asset that is traded in exchange for a real asset, inventory.
As already mentioned, cash is a financial asset. Inventory is a tangible substance with an inherent value not determined by a contract and so is a Physical Asset. Trading cash for Inventory is therefore trading a financial asset for a physical one.
The following information is available for Barkley Company: 2017 2016 Accounts receivable $ 360,000 $400,000 Inventory 280,000 320,000 Net credit sales 3,000,000 1,400,000 Cost of goods sold 1,200,000 1,060,000 Net income 300,000 170,000 Calculate the inventory turnover for 2017. 4.0 times 2.0 times 2.4 times 4.3 times
Answer:
4.0 times
Explanation:
Given that,
2016:
Accounts receivables = $400,000
Inventory = 320,000
Net credit sales = 1,400,000
Cost of goods sold = 1,060,000
Net income = 170,000
2017:
Accounts receivables = $360,000
Inventory = 280,000
Net credit sales = 3,000,000
Cost of goods sold = 1,200,000
Net income = 300,000
Inventory turnover ratio refers to the ratio between the cost of goods sold and average inventory.
Average inventory:
= (Beginning inventory + Ending inventory) / 2
= ($320,000 + $280,000) / 2
= $300,000
Therefore, the inventory turnover ratio for 2017 is as follows:
= Cost of goods sold / Average inventory
= 1,200,000 / 300,000
= 4.0 times
Nester, a salesperson for Olive Grove Corporation, learns that Olive Grove will increase the dividend it pays to shareholders. Nester buys 10,000 shares of Olive Grove stock. When the dividend is announced to the public and the price of the stock increases, Nester sells his shares for a profit. Nester would not be liable for insider trading if the information about the dividend was:__________.A) material when he sold the stock.B) available to the public after he bought the stock.C) available to the public before he bought the stock.D) forward-looking when he bought the stock.
Answer:
C) available to the public before he bought the stock
Explanation:
Insider trading is when an agent or someone with privileged information on the future performance of stocks buys stocks based on this information with the aim of making gain.
This is an illegal activity and pepertrators can be charged for insider trading.
In this scenario Nester buys shares because he knew dividends were going to increase, and sells them to make a profit.
He will not be liable for insider trading if the information on dividend increase was available to the public before he bought the stock. Then it will not be confidential information
Pitkins Company collects 20% of a month's sales in the month of sale, 70% in the month following sale, and 6% in the second month following sale. The remainder is uncollectible. Budgeted sales for the next four months are: Cash collections in April are budgeted to be: Select one: a. $321,000 b. $313,000 c. $320,000 d. $292,000
Answer:
Instructions are below.
Explanation:
Giving the following information:
Cash collection= 20% of a month's sales in the month of sale
Account sales= 70% in the month following sale, and 6% in the second month following sale.
The remainder is uncollectible.
We weren't provided with information regarding sales. I can invent some numbers to show how it's done.
Sales:
February= 200,000
March= 188,000
April= 213,000
Cash collection:
Sales in cash April= (213,000*0.2)= 42,600
Sales on Account March= (188,000*0.7)= 131,600
Sales on Account February= (200,000*0.06)= 12,000
Total cash April= $186,200
At the beginning of the year, Plummer’s Sports Center bought three used fitness machines from Advantage, Inc. The machines immediately
were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts.
Machine A Machine B Machine C
Amount paid for asset $ 11,000 $ 30,000 $ 8,000
Installation costs 500 1,000 500
Renovation costs prior to use 2,500 1,000 1,500
By the end of the first year, each machine had been operating 4,800 hours.
Required:
1. Compute the cost of each machine.
Total Cost
Machine A
Machine B
Machine C
Required:
2. Prepare one entry to record depreciation expense at the end of year 1, assuming the following:
(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Estimates
Machine Life Residual Value Depreciation Method
A 5 years $1,000 Straight-line
B 60,000 hours 2,000 Units-of-production
C 4 years 1,500 Double-declining-balance
Answer: Please see below
Explanation:
Machine A Machine B Machine C
Amount paid for asset $ 11,000 $ 30,000 $ 8,000
Installation costs 500 1,000 500
Renovation costs prior to use 2,500 1,000 1,500
total cost $14,000 $32,000 $10,000
Machine Life Residual Value Depreciation Method
A 5 years $1,000 Straight-line
B 60,000 hours 2,000 Units-of-production
C 4 years 1,500 Double-declining-balance
for machne A, using Straight line Depreciation
Straight line Depreciation = total cost of asset - residual value /useful life
=14,000-1000/5= $,2,600
for machne b, using units of operation with production time = 4800
units of operation Depreciation= total cost of asset - residual value /useful life x Production time = ((32,000-2000)/60,000) x 4800= $2400
for machne b, using Double-declining-balance
Double-declining-balance depreciation = (cost of asset - accumulated depreciation/ useful life of asset) x 2 =(( $10,000- 0)/4) x2 = $5000
Journal for machine A at end of year 1
Account Debit Credit
depreciation expense $2600
accumulated depreciation $2,600
Journal for machine B at end of year 1
Account Debit Credit
depreciation expense $2400
accumulated depreciation $2,400
Journal for machine C at end of year 1
Account Debit Credit
depreciation expense $5,000
accumulated depreciation $5,000
1. The cost of each machine is computed as follows:
Machine A Machine B Machine C
Cost of machine $14,000 $32,000 $10,000
2. Depreciation Expenses $2,600 $2,400 $4,250
Journal Entries:
Debit Depreciation Expense $9,250
Credit Accumulated Depreciation:
Machine A $2,600
Machine B $2,400
Machine C $4,250
To record depreciation expense for the first year.
Data and Calculations:
Machine A Machine B Machine C
Amount paid for asset $ 11,000 $ 30,000 $ 8,000
Installation costs 500 1,000 500
Renovation costs prior to use 2,500 1,000 1,500
Total recognized costs $14,000 $32,000 $10,000
Residual Value $1,000 $2,000 $1,500
Depreciable amount $13,000 $30,000 $8,500
Estimated useful life 5 years 60,000 hours 4 years
Depreciation rate $2,600 $0.50 50% (100/4 x 2)
Depreciation methods S/L Production units Double-declining
Depreciation expense, Yr 1 $2,600 $2,400 $4,250 ($8,500 x 50%)
Calculations ($13,000/5) ($30,000/60,000 x 4,800)
Learn more: https://brainly.com/question/24194507
You consider purchasing a new computing system, including networking, for your sales force for $112,000. The system has a 6-year useful life and no salvage value. Your sales force is expected to generate an additional $37,000 of net income before taxes and depreciation each year by using this upgraded system. The combined federal and state income tax rate = 40%, Annual inflation = 400.
A. Fill in the following table assuming MACRS depreciation rates.
Year Pre-Income Depreciation Taxable Tax After tax Inflation Real
Tax income owed income adjustment after tax
factor Income
1 $37,000 $22,400
2 $37,000
3 $37,000
4 $37,000
5 $37,000
6 $37,000
B. Ifyour MARR-15%, should you purchase this system based on your real after-tax income? Why or why not?
Answer:
I am sorry
Explanation:
I dont do business
The table is given and purchasing this system is not possible.
What is an income tax?A tax placed on people or organizations in relation to their earnings or profits is known as an income tax. Tax rates multiplied by income taxes are typically used to calculate income taxes. Tax rates might change depending on the payer's attributes and source of income.
Based on the income collected, personal income taxes are calculated. Typically, it is categorized as a direct tax since this burden is thought to fall on the those who pay it.
Total of the present value is given at $60538.00
The NPV for the same data will be at 460538
NPV = PV of real cash inflows - initial outflow
= $60538 - $112000
= -$51462
As the NPV that is calculated has reached at a negetive value, thus purchase is not viable for the company.
Learn more about income tax, Here:
https://brainly.com/question/13745838
#SPJ5
Your mom is thinking of retiring. Her retirement plan will pay her either $ 100 comma 000 immediately on retirement or $ 140 comma 000 five years after the date of her retirement. Which alternative should she choose if the interest rate is: a. 0 % per year? b. 8 % per year? c. 20 % per year?
Answer:
a.5 year plan will be chosen.
b.Immediately must be chosen
c.Immediately must be chosen
Explanation:
Present value of inflows = cash inflow / (1+r)^n
a. 0 % per year
Present value of inflows = $140,000 / (1)⁵
Present value of inflows = $140,000
5 year plan will be chosen.
b. 8 % per year
Present value of inflows = $140,000 / (1.08) ⁵
Present value of inflows = $140,000 / 1.469328
Present value of inflows = $95,281.6526
Immediately must be chosen
c. 20 % per year?
Present value of inflows = $140,000 / (1.20) ⁵
Present value of inflows = $140,000 / 2.48832
Present value of inflows = $56,262.8601
Immediately must be chosen
Which journal entry reflects the following transaction?:
BOC bought a $300,000 building with $50,000 cash and a mortgage taken from a bank.
a. Dr. Building 300,000
Cr. Mortgage 250,000
Cr. Cash 50,000
b. Dr. Mortgage 250,000
Dr. Cash 50,000
Cr. Building 300,000
c. Dr. Cash 50,000
Cr. Building 300,000
d. Dr. Building 300,000
Cr. Cash 50,000
e. Dr. Building 300,000
Cr. Cash 300,000
Answer:
The correct answer is Option A.
Explanation:
The concept of double entry says for every debit entry, there must be a corresponding credit entry. This is necessary for the journal entries to balance, that is, the total of the debit balance must always equal the credit balance.
The building purchased by BOC is an asset. So there is need to debit that account to recognize the asset. Since there was an outflow of cash to the tune of $50,000, we need to credit cash while the remaining balance being financed by mortgage will be credited to recognize the liability.
Which of the following statements about process efficiency is FALSE? Multiple Choice Cost of direct labor goes up if flow rate goes up. A process is efficient if it is able to achieve a high flow rate with few resources. Cycle time goes up if flow rate goes down. Revenue goes up if flow rate goes up.
Answer:
Cost of direct labor goes up if flow rate goes up
Explanation:
As we know that
Cost of direct labor = Wages per unit of time ÷ Flow Rate
This cost of direct labor implies that whenever the flow rate rises, the cost of direct labor will decline that depicts the negative relationship between them and if the flow rate declines, the cost of direct labor increases
Moreover, by dividing the wages per unit of time from the flow rate we can get the cost of direct labor
Therefore, the first option is correct that shows the given statement is false regarding the process efficiency
Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:
Price Quantity Demanded by Business Travelers Quantity Demanded by Vacationers (Dollars) (Tickets) (Tickets)
150 2,100 Tickets 1,000 Tickets
200 2,000 800
250 1,900 600
300 1,800 400
As the price of tickets rises from $150 to $200, the price elasticity of demand for business travelers is _________, and the price elasticity of demand for vacationers is__________ , using the midpoint method. Therefore, the demand for airline tickets in this price range is elastic for vacationers because business travelers are sensitive to changes in price.
Answer
Price elasticiy of demand for business travelers: -0.16
Price elasticity of demand for vacationers: -0.29
Explanation:
To find the price elasticy of demand (PED) using the midpoint method, we use the following formula:
[tex]PED = \frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1/2]}[/tex]
Where Q2 and P2 are the new quantity demanded and new price respectively, and Q1 and P1 are the old quantity demanded and price.
Plugging the amounts into the formula we obtain the results of the answer.
Because both results are in absolute value less than one (0.16 and 0.29), we can say that the PED of tickets, for both vacationers and Business traveleres, is relatively inelastic. (Demand falls less in proportion to the change in price).
A debit to Sales Returns and Allowances and a credit to Accounts Receivable: Multiple Choice Reflects an increase in amount due from a customer. Recognizes that a customer returned merchandise and/or received an allowance. Records the cost side of a sales return. Is recorded when a customer takes a discount. Reflects a decrease in amount due to a supplier.
Answer:
Recognizes that a customer returned merchandise and/or received an allowance.
Explanation:
When returning merchandise, sales return and allowances are debited to decrease sales and account receivable or cash is credited to refund / reduce cash company owes by the client. When a customer requires a cash refund, then we can only credit cash instead of account receivable because the debit entry is the same.
The journal entry is
Sales return and allowances XXXXX
To Account receivable XXXXX
(Being the sales return is recorded)
It only shows and records the returned merchandise
Way Cool produces two different models of air conditioners. The company produces the mechanical systems in their components department. The mechanical systems are combined with the housing assembly in its finishing department. The activities, costs, and drivers associated with these two manufacturing processes and the production support process follow.
Process Activity Overhead Cost Driver Quantity
Components Changeover $458,000 Number of batches 810
Machining 307,000 Machine hours 7,650
Setups 232,000 Number of setups 160
997,000
Finishing Welding 188,000 Welding hours 4,100
Inspecting 231,000 Number of inspections 835
Rework 62,000 Rework orders 150
$ 481,000
Support Purchasing $143,000 Purchase orders 525
Providing space 32,000 Number of units 5,020
Providing utilities 61,000 Number of units 5,020
$ 236,000
Additional production information concerning its two product lines follows.
Model 145 Model 212
Units produced 2,000 3,020
Welding hours 1,200 2,900
Batches 405 405
Number of inspections 465 370
Machine hours 2,350 5,300
Setups 80 80
Rework orders 100 50
Purchase orders 350 175
Required:
1.
Determine departmental overhead rates and compute the overhead cost per unit for each product line. Base your overhead assignment for the components department on machine hours. Use welding hours to assign overhead costs to the finishing department. Assign costs to the support department based on number of purchase orders.(Round your intermediate calculations and per unit cost answers to 2 decimal places.)
2. Determine the total cost per unit for each product line if the direct labor and direct materials costs per unit are $210 for Model 145 and $150 for Model 212. (Round your intermediate calculations and cost per unit answers to 2 decimal places.
Answer:
I think it would be 576,676 and for the second one 870,34
Explanation:
Hopefully I was right
Network economics Select one: A. applies the law of diminishing returns to communities of users. B. balances the high cost of adding new members to a community against the lower cost of using network infrastructure. C. sees the cost of adding new members as inconsequential. D. applies traditional economics to networked usersh
Answer:
C. sees the cost of adding new members as inconsequential
Explanation:
Network Economics is a situation where a business accrues benefits through feedback that is provided by the who use the businesses product or service. It is a product of the network effect, an increase in the value of a good or service increases as the number of buyers or subscribers goes up.
For each of the following, compute the future value: (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
Present Value Years Interest Rate Future Value
$ 2,550 8 18 % $
9,653 21 10 $
101,305 15 11 $
239,382 27 5 $
Answer:
$9585.09
$71,434.61
$484.702.84
$893,722.24
Explanation:
The formula used in calculating future value is given as :
FV = P (1 + r)^n
FV = Future value
P = Present value
R = interest rate
N = number of years
1. $ 2,550 (1 + 0.18)^8 = $9585.09
2. 9,653 (1 + 0.1)^21 = $71,434.61
3. 101,305 (1 + 0.11)^ 15 = $484.702.84
4. 239,382(1 + 0.05)^27 = $893,722.24
I hope my answer helps you
For its fiscal year ending October 31, 2022, Swifty Corporation reports the following partial data shown below. Income before income taxes $545,400 Income tax expense (20% × $424,200) 84,840 Income from continuing operations 460,560 Loss on discontinued operations 121,200 Net income $339,360 The loss on discontinued operations was comprised of a $50,500 loss from operations and a $70,700 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning with income before income taxes.
Answer:
Swifty Corporation
Statement of Comprehensive Income
October 31, 2022
Income before income taxes $545,400
Income tax expense ($109,080)
Income from continuing operations $436,320
Other comprehensive income (loss):
Loss on discontinued operations ($50,500)
Related tax $10,100
Loss from disposal of assets ($70,700)
Related tax $14,140
Other comprehensive income (loss) net of tax ($96,960)
Comprehensive Income $339,360
Explanation:
income before income taxes $545,400 x 20% = $109,080 tax expense
loss on discontinued operations $50,500 x 20% = $10,100 tax benefit
loss from disposal of assets $70,700 x 20% = $14,410 tax benefit
Swifty Corporation
Statement of Comprehensive Income
October 31, 2022
Income before income taxes $545,400
Income tax expense ($109,080) (20% of $545,400)
Income from continuing operations $436,320
Other comprehensive income (loss):
Loss on discontinued operations ($50,500)
Related tax $10,100 (20% of $50,500)
Loss from disposal of assets ($70,700)
Related tax $14,140
Other comprehensive income (loss) net of tax ($96,960)
Comprehensive Income $339,360
Learn more: brainly.com/question/6201432
True or false: All desires of human beings are known as ‘Demand’.
Answer:
False
Explanation:
Nelson Industries warrants its products for one year. The estimated product warranty is 4.3% of sales. Sales were $475,000 for September. In October, a customer received warranty repairs requiring $215 of parts and $65 of labor. Required: 1. Journalize the adjusting entry required at September 30, the end of the first month of the current year, to record the estimated product warranty expense. 2. Journalize the entry to record the warranty work provided in October. If an amount box does not require an entry, leave it blank.
Answer:
Explanation:
The required journal is given below
1 Product Warranty Expense 20425 =475000*4.3%
Product Warranty Payable 20425
2 Product Warranty Payable 280
Supplies/Inventory 215
Wages Payable 65
You decide that you need more information on how employees feel about diversity, so you create a paper and pencil survey on employee attitudes toward diversity and ask managers to distribute it to current employees. If found to be present. What would be the most likely grounds for concern?
Answer:
Discrimination against women and other minorities
Explanation:
The most likely ground for concern would be Discrimination against women and other minorities.
Diversity in the workplace means that an organization employs a diverse team of persons that reflects the views of the society in which it exists and operates. Through diversity and inclusion, no employee is treated unfairly on account of their gender, race, ethnicity.
Discrimination in labor markets, occurs when workers who have the same skill levels by education, experience, and expertise receive different pay because of their race or gender.
Jamie Dimon is the CEO and chairman of JPMorgan Chase. He has held both roles since 2005--that is, before, during, and after the financial crisis. Few executives on Wall Street are as respected and recognized, or as well compensated—for instance, in 2013 it was approximately $11.5 million; in 2014, $20 million; and in 2015, $27 million.
In one sense, this is typical of total executive compensation in the finance industry. Mr. Dimon's straight salary is often $1.5 million, and the rest (more than 90 percent) is tied to some measure of firm performance, such as stock price and profitability.
However, JPMorgan and others have come under considerable pressure for what the compensation package doesn't consider directly--ethics. During this same period, JPMorgan has settled legal claims in excess of $25 billion! A few notable examples include: $920 million for allowing traders to fraudulently overvalue investments and conceal losses; $1 billion related to securities fraud and concealment of losses in the "London Whale" trading fiasco (JPMorgan lost $6.2 billion apart from the fines); $13 billion in settlement of risky mortgages; and another $2 billion for not identifying the Madoff Ponzi scheme and the losses it caused its own investors.money
To be fair, Dimon's low $11.5 million year was intended to reflect his role related to the London Whale debacle, but this bonus reduction took place only due to pressure from Congress (Dimon earned $23 million the year before). Defenders of Dimon, and the JPMorgan board of directors who granted the pay, say he deserves such rewards for negotiating smaller fines and for producing industry-leading profitability. JPMorgan had record profits in 2015.
This scenario nevertheless raises an obvious question: Is JPMorgan's pay for performance really pay for profits without consideration of other activities that are costing it billions of dollars in penalties and fines? Dimon was CEO before, during, and since all of these billions in penalties were paid. He did not inherit the problems of a previous executive. And a corporate ethics monitoring group reported that since the financial crisis of 2008 "there appears to be no change in the frequency of the ethical issues facing the company which suggests different types of intervention are needed." The combination of these details leads some to argue that Dimon should be fired.
What Would You Do?
As you may know, the board of directors is ultimately responsible for the performance of the firm, its CEO, and all executives' compensation. With this in mind, assume JPMorgan replaced its entire board. You are now the chair, and Jamie Dimon is only the CEO. What would you recommend?
a. Would you fire Mr. Dimon outright or suggest some other changes to keep this from happening again? Defend your choice.
b. Your answer to #1 aside, what recommendations do you have for the CEO's compensation from here on? Explain.
c. Details of the case aside, describe how you could be sure pay-for-performance for the CEO also includes performance related to ethical conduct.
Answer: The answer is provided below
Explanation:
a. Ethics play a very important role in any organization. Ethics ensures the legitimacy and reputation of the organization. Therefore, it cannot be ignored that Mr. Dimon has disregarded the ethical norms when serving as the CEO and Chairman of JPMorgan. Even though the business is earning profits, such fraudulent and unfair business activities should not be acceptable by the company.
With regards to this, as the chairman, I would fire Mr. Dimon for his immoral way in conducting business activities. This will also set an example for others.
b) As far as the CEO's compensation is concerned, pay shouldn't be just for business performance or profits but also for ethical performance. A business without values and ethics cannot succeed in the long run. Even though profits are vital, they shouldn't be at the cost of morality and ethics.
Therefore, it is vital to compensate the CEO after considering every essential factors and not just on the basis of the businesss performance.
c) A proper Performance Analysis in an organization is made up of all the criterias required to measure the performance of both the company and the employees. Regarding the situation in the question, the ethical dilemma can be solved through the consideration of ethical conduct as an equal and important factor when evaluating pay for performance. Therefore, the pay for performance should include ethical and business aspects together which will lead to more transparency when assessing the compensation.
The type of rice that holds its shape best after cooking is
Answer:
parboiled
Explanation:
Parboiled rice (also called converted rice and easy-cook rice) is rice that has been partially boiled in the husk. The three basic steps of parboiling are soaking, steaming and drying.
Blossom Corporation, a manufacturer of ethnic foods, contracted in 2020 to purchase 470 pounds of a spice mixture at $2.35 per pound, delivery to be made in spring of 2021. By 12/31/20, the price per pound of the spice mixture had risen to $2.73 per pound. In 2020, Blossom should recognize:______.
A. No gain or loss.
B. A gain of $178.60.
C. A loss of $1104.50.
D. A loss of $178.60.
Answer:
No gain or loss.
Explanation:
Given:
Amount of spice mixture = 470 pound
Current price = $2.35 per pound
Future price = $2.73 per pound
Computation:
We know that, Future price of spice mixture is higher than current price of spices.
But contract price is fixed at $2.35.
Therefore, no gain or loss will be recognized.
Answer:
A. No gain or loss.
Explanation:
Relevant data provided as per the question is shown below:-
Spice mixture = $2.73 price per pound
Initial contract price = $2.35
Here the spice mixture is $2.73 price per pound as on 31 December 2020 is higher than the initial contract price $2.35, so no gain or loss should be recognized.
Therefore option A is correct.
Prepare Natura Co.’s journal entries to record the following transactions involving its short-term investments in held-to-maturity debt securities, all of which occurred during the current year. a. On June 15, paid $120,000 cash to purchase Remed’s 90-day short-term debt securities ($120,000 principal), dated June 15, that pay 5% interest. b. On September 16, received a check from Remed in payment of the principal and 90 days' interest on the debt securities purchased in transaction a. (Use 360 days in a year. Do not round your intermediate calculations.)
Answer: The answer has been attached below.
Explanation:
A journal entry is the record of the business transactions in an accounting books of a business. It is the first step in accounting cycle. The journal details all the financial transactions of a business. The accounts are either recorded in the credit or the debit side of accountings.
The calculation has been attached. Kindly note that the interest was gotten thus:
= 120,000 × 5% × 90/360
= 120,000 × 0.05 × 0.25
= 1500
The journal entry for the whole transactions has been attached.
The price charged by the theater for a ticket to the Broadway show Hamilton is so low that there is a huge excess demand for the tickets. Ticket brokers buy these tickets at the low price charged by the theater, and they resell them at much higher prices. These ticket brokers have used illegal software called "ticket bots" to buy tickets.In an effort to thwart the use of this software, theaters are now requiring buyers to type characters into a box to prove that they are human. This new policy, requiring people to type characters into a box, will have an impact on the market for Hamilton theater tickets. Below is a list of possible impacts. Move the impacts that will result from the requirement that buyers type characters into the box labeled "Will Occur." Move the impacts that should not occur into the box labeled "Will Not Occur."
Answer:
Will not occur:
- ticket brokers will not be able to obtain tickets to resell
- ticket brokers will hire human workers from other countries
Explanation:
Indeed, it is not logical to conclude that this ticket brokers will not be able to still resell tickets using other fraudulent ways.
Going to hire workers from another country would be a very expensive option that seems more likely not going to occur.
