Answer: $0.06
Explanation:
The standard direct materials cost per bar of chocolate will be:
Cocoa:
Quantity = 480 lbs.
Price = $0.40 per lb
Amount = $192
Sugar:
Quantity = 150 lbs.
Price = $0.60 per lb
Amount = $90
Milk:
Quantity = 120 gal
Price = $1.70 per gal
Amount = $204
Total amount = $192 + $90 + $204 = $486
Since there are 8100 bars of chocolate, the cost per bar will be:
= $486 / 8100
= $0.06
Which of the following statements correctly explains Net present value: is the best method of analyzing mutually exclusive projects. is very similar in its methodology to the average accounting return. cannot be applied when comparing mutually exclusive projects. is less useful than the internal rate of return when comparing different-sized projects. is the easiest method of evaluation for nonfinancial managers.
Answer:
is the best method of analyzing mutually exclusive projects
Explanation:
The net present value would be considered the best method of capital budgeting to evaluate projects.
Also, it considers the time value of money. It represent to be a good indicator of firm profitability and rise the shareholder wealth.
So according to the given options, it would be considered the best method for analyzing the projects that are mutually exclusive
hence the first option is correct
Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that goes through three processing stages prior to completion. Information on work in the first department, Cooking, is given below for May:
Production data:
Pounds in process, May 1; materials 100% complete; conversion 80% complete 10,000
Pounds started into production during May 100,000
Pounds completed and transferred out ?
Pounds in process, May 31 ; materials 60% complete; conversion 20% complete 15,000
Cost data:
Work in process inventory, May 1 :
Materials cost $15,000
Conversion cost
Cost added during May:
Materials cost $154,500
Conversion cost $90,800
The company uses the weighted-average method.
Required:
a. Compute the equivalent units of production.
b. Compute the costs per equivalent unit for the month.
c. Determine the cost of ending work in process inventory and of the units transferred out to the next department.
d. Prepare a cost reconciliation report for the month.
Answer:
Part a
Materials = 104,000 units
Conversion Cost = 98,000 units
Part b
Materials = $1.50
Conversion Costs = $1.00
Part c
Cost of ending work in process inventory = $16,500
Cost units transferred out to the next department = $237,500
Part d
Cost Reconciliation Report
Cost of Beginning Work in Process Inventory $8,700
Cost added during the Period $245,300
Total $254,000
Cost of ending work in process inventory $16,500
Cost units transferred out to the next department $237,500
Total $254,000
Explanation:
Hi, there are some missing amounts from your question, however I managed to search for the full question online and I have attached it as an image below.
Units transferred out to the next department = 100,000 + 10,000 - 15,000 = 95,000
Equivalent units of production
Materials = 95,000 x 100% + 15,000 x 60 % = 104,000 units
Conversion Cost = 95,000 x 100% + 15,000 x 20 % = 98,000 units
Costs per equivalent
Materials = ($1,500 + $154,500) ÷ 104,000 units = $1.50
Conversion Costs = ($7,200 + $90,800) ÷ 98,000 units = $1.00
Total unit cost = $1.50 + $1.00 = $2.50
Cost of ending work in process inventory
Cost of ending work in process inventory = Materials cost + Conversion cost
= 9,000 x $1.50 + 3,000 x $1.00
= $16,500
Cost of units transferred out to the next department.
Cost units transferred out to the next department = units transferred out x total unit cost
= 95,000 x $2.50
= $237,500
Consider a two-period resource allocation problem where the efficient allocation of the resource implies a market price of $10 in the first period. Assume in both periods the constant marginal extraction costs equal $2 and the social discount rate is 10%. The socially efficient undiscounted market price in the second period must be:
Answer:
$10.80
Explanation:
Given that:
A first-period efficient allocation cost = $10
The constant marginal extraction cost MEC for both periods = $2
The social discount rate (r) = 10%
∴
The efficient undiscounted market price for the 2nd period can be determined by using the formula:
[tex]P_1 - MEC_1 = \dfrac{P_2 -MEC_2}{1+r} \\ \\ \implies 10 -2 = \dfrac{P_2-2}{1+0.1} \\ \\ 8 = \dfrac{P_2-2}{1.1} \\ \\ P_2 -2 = 8 \times 1.1 \\ \\ P_2-2=8.8 \\ \\ P_2 = 8.8+2 \\ \\ \mathbf{P_2 = \$10.80}[/tex]
InterValley Inc. is undergoing major changes at its managerial level. It is also about to appoint a new CEO. Although this information is strictly confidential and has not yet been told to the employees, almost every employee in the company knows about it and is anticipating major changes in the firm in the near future. In this context, the employees at InterValley Inc. gained knowledge of the changes taking place in the company even before receiving any official message through _____.
Answer: the grapevine
Explanation:
The options are:
a.social media
b.the company newsletter
c.the grapevine
d.upward communication
Since we are informed that even though the information about recent happenings in the company is confidential, that every employee in the company knows about what's happening and is anticipating major changes in the firm in the near future, we can say this is an informal means of communication which is also referred to as a grapevine.
Other options given in the question are wrong as they don't fit in into the question. Therefore, the correct answer is "grapevine".
Dunn Sporting Goods sells athletic clothing and footwear to retail customers. Dunn's accountant indicates that the firm's operating cycle averages 6 months. At December 31, 2019, Dunn has the following assets and liabilities:
1. Prepaid rent in the amount of $8,500. Dunn's rent is $500 per month.
2. A $9,700 account payable due in 45 days.
3. Inventory in the amount of $46,230. Dunn expects to sell $38,000 of the inventory within 3 months. The remainder will be placed in storage until September 2020. The items placed in storage should be sold by November 2020.
4. An investment in marketable securities in the amount of $1,900. Dunn expects to sell $700 of the marketable securities in 6 months. The remainder are not expected to be sold until 2022.
5. Cash in the amount of $1,050.
6. An equipment loan in the amount of $60,000 due in March 2024. Interest of $4,500 is due in March 2020 ($3,750 of the interest relates to 2019, with the remainder relating to the first 3 months of 2020).
7. An account receivable from a local university in the amount of $2,850. The university has promised to pay the full amount in 3 months.
8. Store equipment at a cost of $9,200. Accumulated depreciation has been recorded on the store equipment in the amount of $1,250.
Required:
Identify Current Assets and Liabilities.
Answer:
Dunn Sporting Goods
Identifying Current Assets and Current Liabilities
Current Assets:
1. Prepaid Rent $6,000
3. Inventory $46,230
4. Marketable securities $700
5. Cash $1,050
7. Account receivable $2,850
Current Liabilities:
2. Accounts payable $9,700
6. Interest Payable $4,500
Explanation:
a) Data and Analysis:
1. Prepaid Rent (Current Assets) $6,000 Prepaid Rent (Long-term Assets) $2,500 in the amount of $8,500. Dunn's rent is $500 per month.
2. Account payable $9,700
3. Inventory (Current assets) $46,230.
4. Short-term marketable securities $700 Long-term Investments $1,200
5. Cash (current assets) $1,050.
6. Loan Payable (long-term) $60,000 due in March 2024. Interest Payable (current liabilities) $4,500
7. Account receivable (Current assets) $2,850
8. Store equipment $9,200. Accumulated depreciation $1,250.
b) Current assets are short-term assets expected to be used up within 12 months while current liabilities are short-term assets expected to be settled within 12 months.
List a minimum of sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations.
Answer:
The answer is below
Explanation:
Some of the sources of information in Australia that you could access to help you facilitate compliance with relevant international finance regulations are:
1. Reserve Bank of Australia - RBA
2. Australian Prudential Regulation Authority - APRA
3. Australian Securities and Investments Commission - ASIC
4. Australian Competition and Consumer Commission - ACCC
5. Australian Communications and Media Authority - ACMA
6. Superannuation and Financial Services Industry - Royal Commission
7. Australian Financial Services Licence - AFSL
8. Australian Market Licence - AML
9. Clearing and Settlement - CS
10. Australian Consumer Law - ACL
what is a market failure
Webster Corporation's monthly projected general and administrative expenses include $4,500 administrative salaries, $1,900 of other cash administrative expenses, $2,100 of depreciation expense on the administrative equipment, and .5% monthly interest on an outstanding bank loan of $25,000. Compute the total budgeted general and administrative expenses budget per month.
Answer:
$8,500
Explanation:
Total budgeted general and administrative expenses are the compulsory daily cost expended to ensure that a company's operations is maintained irrespective of whether the company is making profit or not.
Examples of general and administrative expense includes rent, utility bill, insurance, depreciation of office furniture, insurance and wages etc.
Therefore,
Total budgeted general and administrative expenses budgeted per month = Administrative salaries + Other cash administrative expenses + Depreciation
= $4,500 + $1,900 + $2,100
= $8,500
John is a math whiz who enjoys working hard. While he can collaborate, he prefers to work alone. Which of the following marketing careers would be the best fit for Johns skills.
A.Graphic Designer
B.Marketing research analyst
C.Public Relations Professional
D.Sales Representative
After analyzing the scenario, the best-fit marketing career for Johns's skills would be Marketing research analyst. Thus, option 'B' is the correct option.
What is a Marketing research analyst?Analysts of market research collect and examine consumer and competitor data. To determine the likelihood that a good or service will be purchased, market research experts examine customer preferences, economic conditions, and other variables. They assist businesses in determining who will buy certain things and at what price. If you enjoy working in a position that rewards analytical, collaborative, creative, and critical thinking abilities, a job in market research is a great fit.
Market researchers get to be at the cutting edge of business trends. Because they work set hours and get weekends off, many marketing analysts are able to maintain a healthy work-life balance. Due to the fact that most businesses require their services, they also frequently have good job security.
Learn more about Marketing research analysts, here:
https://brainly.com/question/13923577
#SPJ2
The Charade Corporation is preparing its Manufacturing Overhead budget for the fourth quarter of the year. The budgeted variable manufacturing overhead is $7 per direct labor-hour; the budgeted fixed manufacturing overhead is $87,000 per month, of which $16,200 is factory depreciation. If the budgeted direct labor time for November is 8,200 hours, then the total budgeted manufacturing overhead for November is:
Answer:
See below
Explanation:
Given the above information, the total budget manufacturing overhead is computed as
= Variable factory overhead rate per direct labor hour × Budgeted direct labor time for November + Fixed factory overhead per month
= $7 × 8,200 + $87,000
= $57,400 + $87,000
= $144,000
Therefore, the total budgeted manufacturing overhead for November is $144,000
Samtech Manufacturing purchased land and building for $3 million. In addition to the purchase price, Samtech made the following expenditures in connection with the purchase of the land and building: Title insurance$23,000 Legal fees for drawing the contract 8,500 Pro-rated property taxes for the period after acquisition 43,000 State transfer fees 4,700 An independent appraisal estimated the fair values of the land and building, if purchased separately, at $3 and $2 million, respectively. Shortly after acquisition, Samtech spent $89,000 to construct a parking lot and $47,000 for landscaping. Required:1. Determine the initial valuation of each asset Samtech acquired in these transactions.2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $320,000 and the salvaged materials were sold for $9,500. In addition, Samtech spent $86,000 clearing and grading the land in preparation for the construction of a new building.
Answer:
1. We have:
Initial valuation of land = $1,821,720
Initial valuation of building = $1,214,480
2. We have:
Initial valuation of land = $3,432,700
Initial valuation of building = $0
Explanation:
1. Determine the initial valuation of each asset Samtech acquired in these transactions.
Fair value of land = $3 million
Fair value of building = $2 million
Total fair value = $3 million + 2 million = $5 million
Total acquisition cost = Purchase price land and building + Title insurance + Legal fees for drawing the contract + State transfer fees = $3,000,000 + $23,000 + $8,500 + $4,700 = $3,036,200
Initial valuation of land = Total acquisition cost * (Fair value of land / Total fair value) = $3,036,200 * (3 / 5) = $1,821,720
Initial valuation of building = Total acquisition cost * (Fair value of building / Total fair value) = $3,036,200 * (2 / 5) = $1,214,480
2. Determine the initial valuation of each asset, assuming that immediately after acquisition, Samtech demolished the building. Demolition costs were $320,000 and the salvaged materials were sold for $9,500. In addition, Samtech spent $86,000 clearing and grading the land in preparation for the construction of a new building.
Since it is assumed that the building has been demolished, the building will no longer have any initial valuation or an initial valuation of $0.
What will happen now is that the Total acquisition cost plus Demolition costs and cost of clearing and grading the land in preparation for the construction of a new building minus the salvaged materials will be the initial valuation of land.
Initial valuation of land = Total acquisition cost + Demolition costs + Cost of clearing and grading the land - Salvaged materials = $3,036,200 + $320,000 + $86,000 - $9,500 = $3,432,700
Initial valuation of building = $0
Two independent situations are described below. Each involves future deductible amounts and/or future taxable amounts produced by temporary differences:
SITUATION 1 2
Taxable income $35,000 $75,000
Amounts at year-end:
Future deductible amounts 4,500 11,500
Future taxable amounts 0 4,500
Balances at beginning of year, dr (cr):
Deferred tax asset $1,000 $4,600
Deferred tax liability 0 1,000
The enacted tax rate is 40% for both situations.
Required: For each situation determine the:
SITUATION
1 2
a) Income tax payable currently.
b) Deferred tax asset - balance at year-end.
c) Deferred tax asset change dr or (cr) for the year.
d) Deferred tax liability - balance at year-end.
e) Deferred tax liability change dr or (cr) for the year.
f) Income tax expense for the year.
Answer:
SITUATION 1 2
a) Income tax payable currently. $14,000 $30,000
b) Deferred tax asset - balance at year-end. $1,800 $4,600
c) Deferred tax asset change dr or (cr) for the year. $800 $0
d) Deferred tax liability - balance at year-end. $0 -$1,800
e) Deferred tax liability change dr or (cr) for the year. $0 -$800
f) Income tax expense for the year. $13,200 $30,800
Explanation:
Note: See the attached excel file for all the calculations of all the answers a to f above.
List three examples of fossil fuels are
Answer:
i Will help
Explanation:
dinosaur ones
Turtle ones and
fish fossils
your welcome my buddy
Answer:
Explanation:
Coal, crude oil, and natural gas are all considered fossil fuels because they were formed from the fossilized, buried remains of plants and animals that lived millions of years ago
A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. The city charges the team $100 each month for the three-month season. The team pays the players and manager a total of $1000 each month. The team charges $10 for each ticket, and the average customer spends $8 at the concession stand. Attendance averages 30 people at each home game.
The team earns $_________in revenue for each game and $_________ revenue each season. With total costs of $_________ each season, the team finishes the season with $_________ of profit.
Answer and Explanation:
The computation is shown below:
The revenue earned by team for each game is
= $10 + 50% of $8
= $10 + 4
= $14
Now the revenue for each session is
= $14 × 30 PEOPLE × 6 games
= $2,520
The total cost would be
= $100 × 3 + $1,000 × 3
= $300 + $3,000
= $3,300
And, the team would finished the season for profit of
= Revenue - cost
= $2,520 - $3,300
= $780 loss
Is a business cycle a type of recession?
yes or no?
Answer:
The Answer is gonna be Yes
Go Fly A Kite is considering making and selling custom kites in two sizes. The small kites would be priced at $11.90 and the large kites would be $24.90. The variable cost per unit is $5.75 and $12.50, respectively. Jill, the owner, feels that she can sell 3,300 of the small kites and 1,910 of the large kites each year. The fixed costs would be $2,120 a year and the depreciation expense is $1,600. The tax rate is 40 percent. What is the annual operating cash flow
Answer:
See below
Explanation:
Given the above information,
Sales
= ($11.90 × 3,300) + ($24.9 × 1,910)
= $39,270 + $4,7559
= $86,829
Total variable cost
= ($5.75 × 3,300) + ($12.5 × 1,910)
= $18,975 + $23,875
= $42,950
Contribution margin = $43,979
Fixed cost = ($2,120)
Depreciation = ($1,600)
EBIT = $40,259
Tax = ($40,259 × 0.40) = $16,104
Depreciation = $1,600
Net operating cash flow = $22,555
Finished goods inventory at the end of September was 3,000 units. Ending finished goods inventory is budgeted to equal 25 percent of the next month's sales. Asian Lamp expects to sell the lamps for $25 each. January sales is projected at 16,000 lamps. In going from the sales budget to the production budget, adjustments to the sales budget need to be made for
Answer: b. finished goods inventories,
Explanation:
To be able to come up with the Production budget, the sales budget will need to be adjusted for finished goods inventories to come up with the total production figure.
For instance:
Production Budget
Sales in units XXX
Add Ending finished goods inventories XXX
Less Opening finished goods inventories (XXX)
Production units for period XXX
Sunland Corp. prepared the following reconciliation of income per books with income per tax return for the year ended December 31, 2021: Book income before income taxes $2760000 Add temporary difference Construction contract revenue which will reverse in 2022 246000 Deduct temporary difference Depreciation expense which will reverse in equal amounts in each of the next four years (974400) Taxable income $2031600 Sunland's effective income tax rate is 25% for 2021. What amount should Sunland report in its 2021 income statement as the current provision for income taxes
Answer:
the current provision for income tax is $507,900
Explanation:
The computation of the current provision for income tax is shown below:
= (Income before income tax + temporary difference - depreciation expense) × effective income tax rate
= ($2,760,000 + $246,000 - $974,400) × 0.25
= $507,900
Hence, the current provision for income tax is $507,900
The same would be considered and relevant
2. How does the author analyze the social class relationship
Answer: A focus on objective tsocial class enters a direct determination of a person shotshell based on social economic variables mainly income wealth education occupation a second approach to social class the one that approach to social class that one that occupies here deals with how people put themselves into categories
Looney Flanigan's weekly gross pay is 1250. each week she has $64.37 in deductions plus the state tax of 2% of her gross pay, social security taxes of 6.2% and Medicare taxes of 1.45%. what is her net pay?
Answer:
onnie Flanagan's weekly gross pay is $1,250. Each week she has $64.37 in deductions, plus state tax of three percent of her gross pay, and Social Security
Desert Company purchased land to be used as a factory site for $1,250,000. Desert paid $120,000 to tear down two buildings on the land. Salvage was sold for $8,000. Legal fees of $5,220 were paid for title investigation and making the land purchase. Architect’s fees were $46,800. Title insurance cost $3,600 and liability insurance during construction cost $3,900. Excavation cost $15,660. The contractor was paid $4,200,000. Landscaping cost $9,600. Interest costs during construction were $255,000.
The cost of the building that should be recorded by Wilson Co. is:_________
Answer:
$4,269,950
Explanation:
The Cost of an asset include Purchase Cost and other costs directly incurred to put the asset in the location and condition intended for use by management.
Calculation of Cost of the Building :
Architect’s fees $46,800
Insurance $3,600
liability insurance $3,900
Excavation $15,660
Contractor $4,200,000
Total $4,269,950
Therefore,
The cost of the building that should be recorded by Wilson Co. is $4,269,950
The following information is available for the pension plan of Concord Company for the year 2020.
Actual and expected return on plan assets $13,800
Benefits paid to retirees 38,400
Contributions (funding) 79,900
Interest/discount rate 10%
Prior service cost amortization 7,800
Projected benefit obligation, January 1, 2020 452,000
Service cost 54,700
Required:
Compute pension expense for the year 2020.
Answer:
$93,900
Explanation:
Computation for pension expense for the year 2020.
PENSION EXPENSE
Service cost $54,700
Interest cost $45,200
($452,000 * 0.10)
Less Actual return ($13,800)
Amortization of PSC $7,800
Pension expense $93,900
Therefore the pension expense for the year 2020 is $93,900
Assume year 1 is 2019 and by the beginning of year 4, the Sanchezes have paid down the principal amount of the loan to $500,000. In year 4, they borrow an additional $100,000 through a loan secured by the home in order to finish their basement. The new loan carries a 7 percent interest rate and is termed a "home equity loan" by the lender. What amount of interest can the Sanchezes deduct on the $100,000 loan?
Answer: $7,000
Explanation:
Interest deduction is allowed by the IRS if the loan was taken to improve the home. However, for married couples, only loans below the $750,000 limit can have their interest deducted.
The Sanchezes have paid off $500,000 of the principal of their previous loan so we will assume that was enough to get this new loan under the $750,000 limit.
Allowable interest deduction will therefore be:
= 100,000 * 7%
= $7,000
Imagine you are doing an inventory review for your new employer. One of the first items you look at is a cookware set. Demand is normally distributed with a mean of 17 units/day. The standard deviation for demand during lead time is 34.6. The company currently purchases the cookware set when the inventory level falls to 400. Supply lead time is 21 days.
Required:
a. How much safety stock is currently being held?
b. What Cycle Service Level is currently being supported?
c. If a 95% CSL is desired, what reorder point should be used?
d. If the annual holding cost is 20% of item cost and the item costs $12/unit, what is the cost of safety stock inventory based on a 95% CSL?
Answer: a. 43units
b. 89.5%
c. 414 units
d. $68.30
Explanation:
The information given are written below:
Demand, d = 17 units per day
Standard Deviation during lead time, SD = 34.6
Reorder point R = 400
Lead Time, L = 21 days
Since Reorder point = (d×L) + (Z×SD)
400 = (17 × 21) + (34.6 × Z)
400 = 357 + 34.6Z
34.6Z = 400 - 357
34.6Z = 43
Z = 43/34.6
Z = 1.24
a. How much safety stock is currently being held?
= 1.243 × 34.6
= 43 units
b. What Cycle Service Level is currently being supported?
Since the value of Z = 1.243, then, the service level from the service table will be: = 89.5%
c. If a 95% CSL is desired, what reorder point should be used?
This will be:
=(17 × 21) + (1.645 × 34.6)
= 357 + 56.917
= 413.917
= 414 units
d. If the annual holding cost is 20% of item cost and the item costs $12/unit, what is the cost of safety stock inventory based on a 95% CSL?
First, we need to know the average inventory for the 95% service level which will be:
= Safety stock / 2
= (1.645 × 34.6) / 2
= 28.46 units
The cost of safety stock inventory will be:
= Average inventory × Item cost × Holding cost
= 28.46 × 12 × 20%
= $68.30
Is debtors control a current asset, owners equity, income or current liability
Answer:
I need more explanations
Explanation:
Define the term Agriculture
Answer:
the science or practice of farming, including cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to live in cities.
Explanation:
\ (•◡•) / Hey There!
Answer → Agriculture is the science or practice of farming, including cultivation of the soil for the growing of crops and the rearing of animals to provide food, wool, and other products.
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Choose a developing country that is starting to participate in global trade. Describe how economic concepts are affecting the lives of people in that country. Describe both the benefits and drawbacks of the country’s global trade activities.
Answer:
Amira, a sales rep for a software company, was asked by a potential customer whether the company’s technology could perform a specific function critical to his business needs. Amira wasn’t certain the software could handle his needs, so she told him she would need to get back to him. Rather than provide potential misinformation just to make the sale, Amira checked with the development team first. After determining the product could perform the requested function, she let her customer know. Not only did Amira earn the sale, but she earned trust and respect from her client, too.
Explanation:
In a workplace setting, acting with integrity often means demonstrating your core values in all efforts. Here are a few behaviors that show integrity: Being dependable and following through on commitments, Being open and honest when communicating with others, Holding yourself accountable and owning up to your shortcomings
Employees must exercise integrity regardless of their department or career level. Integrity is critical, however, in leadership positions where people have the opportunity to set examples for others. By incorporating strong values into your behavior, you can help encourage other employees to do the same.
How to display integrity in the workplace
Whether you’re working in a small business or a large corporation, your commitment to integrity will impact the workplace. Acting with integrity not only helps show employers you are capable of handling responsibilities that can advance your career, but it also helps foster a positive company culture.
Actions to demonstrate integrity and impact your workplace
1. Show up ready to work
2. Set a positive example
3. Be respectful during the conflict
4. Practice accountability
5. Follow and enforce company policies
6. Improve your work ethic
7. Respect property
Benjamin Company produces two products from a joint process: X and Z. Joint processing costs for this production cycle are $8,000. Yards Sales price per yard at split-off Disposal cost per yard at split-off Further processing per yard Final sale price per yard X 1,500 $6.00 $3.50 $1.00 $7.50 Z 2,200 9.00 5.00 3.00 11.25 If X and Z are processed further, no disposal costs will be incurred or such costs will be borne by the buyer. Refer to Benjamin Company. Using sales value at split-off, what amount of joint processing cost is allocated to Product X (round to the nearest dollar)
Answer:
Benjamin Company
Using sales value at split-off, the amount of joint processing cost allocated to Product X is:
= $2,500.
Explanation:
a) Data and Calculations:
Joint Products X Y Total
Joint processing cost $8,000
Units 1,500 2,200 3,700
Sales price per yard $6.00 $9.00
Sales value at split-off $9,000 $19,800 $28,800
Disposal cost per yard 3.50 5.00
Further processing per yard 1.00 3.00
Final sales price per yard 7.50 11.25
Product X = $2,500 ($8,000 * $9,000/$28,800)
Briefly discuss the advantages of place departmentalisation
Answer:
Places responsibility at a lower level Places emphasis on local markets and problems. Improves coordination in a region Takes advantage of the economics of local operations. Face-to-face communication with local interests.
Operating data for Sheffield Corp. are presented below.
2020 2019
Sales revenue $720,000 $600,000
Cost of goods sold 501,120 424,200
Selling expenses 111,600 75,000
Administrative expenses 59,040 43,800
Income tax expense 28,800 24,600
Net income 19,440 32,400
Required:
Prepare a schedule showing a vertical analysis for 2020 and 2019.
Answer:
2020 % 2019 %
Sales revenue 720000 100% 600000 100%
Cost of goods sold 501120 70% 424200 71%
Gross profit 218880 30% 175800 29%
Selling expenses 111600 16% 75000 13%
Administrative expenses 59040 8% 43800 7%
Operating income 48240 7% 57000 10%
Income tax expense 28800 4% 24600 4%
Net income 19440 3% 32400 5%
