Answer:
analogous
Explanation:
both green and yellow are a part of analogous
Milner Company is working on two job orders. The job cost sheets show the following. Assign costs to work in process.
Job 201 Job 202
Direct materials $7,200 $9,000
Direct labor 4,000 8,000
Manufacturing overhead 5,200 9,800
Required:
Prepare the three summary entries to record the assignment of costs to Work in Process from the data on the job cost sheets.
Answer:
Full Question "(a) (To assign materials to jobs.) (b) (To assign labor to jobs.) (c) (To assign overhead to jobs.)"
No Date Account Title and Explanation Debit Credit
a Work in process inventory $16,200
($7,200+$9,000)
Raw material inventory $16,200
(To assign materials to jobs)
b. Work in process inventory $12,000
($4,000+$8,000)
Factory labour $12,000
(To assign labour to job)
c. Work in process inventory $15,000
($5,200+$9,800)
Manufacturing overhead $15,000
(To assign overhead to jobs)
Effective teams have confidence in themselves and believe they can succeed. This confidence is called ________.
A) social facilitation
B) goal congruence
C) social loafing
D) team efficacy
E) self-serving bias
Answer:
D) team efficacy
Explanation:
Team efficacy can be defined as the joint or collective beliefs that the members of a team have in its capacity to effectively execute a specific project or task, accomplish its organizational set goals and objectives through the use of team efforts and skills.
Hence, effective teams have confidence in themselves and believe they can succeed. This confidence is called team efficacy because all the members of the team bring their own skills, viewpoints, experience, knowledge to achieve success.
Scubapro Corporation currently has 500,000 shares of common stock outstanding and plans to issue 200,000 more shares in a seasoned equity offering. The current shareholders have pre-emptive rights on any new issues of common stock by Scubapro Corporation. How many shares would an investor who currently has 20,000 shares, have the right to buy if she exercises her pre-emptive right?A) 200,000 shares.
B) 120,000 shares.
C) 20,000 shares.
D) 12,000 shares.
E) 8,000 shares.
Answer:
Scubapro Corporation
The investor who currently has 20,000 shares has the right to buy this number of shares, if she exercises her preemptive right:
E) 8,000 shares.
Explanation:
Data and Calculations:
Outstanding common stock = 500,000
Planned issue of additional shares = 200,000
Proportion of new issue to outstanding = 0.40 (200,000/500,000)
For an investor with 20,000 shares, she has the right to buy 8,000 (20,000 * 0.40) additional shares.
the BE in units for CompuTech in 2021?
Q2: What impact would occur to the BE if the variable cost of materials rose by 10% during
the year?
Question Completion:
Assuming the following: (i) the sales price for each CompuTech product sold is $50; (ii) each product sold costs $25 in Raw Material components; and the business Fixed Cost is $45,000.
Q1: What is the BE in units for CompuTech in 2021?
Q2: What impact would occur to the BE if the variable cost of materials rose by 10% during the year?
Answer:
CompuTech
Answer 1: The BE (Break-even Point) in units for CompuTech in 2021 is:
1,800 units.
Answer 2: If the variable cost of materials rose by 10%, the BE will increase to:
2,000 units.
Explanation:
a) Data and Calculations:
Selling price per unit = $50
Direct material cost per unit = $25
Contribution per unit = $25
Fixed Cost = $45,000
Break-even point = Fixed Cost/Contribution per unit
= $45,000/$25
= 1,800 units
b) BE if the variable cost of materials rose by 10% during the year:
Selling price per unit = $50
Direct material cost per unit =$27.50 ($25 * 1.1)
Contribution per unit = $22.50
Fixed Cost = $45,000
Break-even point = Fixed Cost/Contribution per unit
= $45,000/$22.50
= 2,000 units
c) The break-even point in units represents the quantity at which the costs of production equal the revenues for the goods. It is the point where no profit is made, but all the costs, including fixed costs, are covered by the revenues.
A building was purchased for $68,000. The asset has an expected useful life of eight years and depreciation expense each year is $5,000 using the straight-line method. What is the residual value of the building?A. $13,625 B. $8,625 C. $37,000.
The options provided are incorrect. The correct answer is given below.
Answer:
Residual value = $28000
Explanation:
The straight line method of charging depreciation is a method that charges a constant depreciation expense throughout the useful life of the asset. The formula to calculate the depreciation expense under the straight line method is as follows,
Depreciation expense = (Cost - Residual value) / Estimated useful life of the asset
Plugging in the values for depreciation expense, cost and estimated useful life, we can calculate the residual value to be,
5000 = (68000 - Residual value) / 8
5000 * 8 = 68000 - Residual value
40000 + Residual value = 68000
Residual value = 68000 - 40000
Residual value = $28000
First City Bank pays 7 percent simple interest on its savings account balances, whereas Second City Bank pays 7 percent interest compounded annually.If you made a $64,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 9 years? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Answer:
$13,341.39
Explanation:
The computation is shown below:
For First city bank,
The Future value is
= $64,000 + $64,000 × 7%× 9
= $64,000 + $40,320
= $104,320
And for Second city bank,
Given that
NPER = 9,
RATE = 7%,
PV = $64,000
PMT = $0
The formula is shown below:
=-FV(RATE;NPER;PMT;PV;TYPE)
After applying the above formula, the future value is $117,661.39
Now finally
More money would be
= $117,661.39- $104,320
= $13,341.39
Investment in an equipment project yields a net present worth of (–$150) at 15% interest rate and $95 at 20% interest rate. Calculate the internal rate of return on this investment.
Answer:
18.067%
Explanation:
Let , i = 15% , then NPV = -$150 ,
When i = 20%, NPV = $95 A
At IRR , let the NPV = 0
Now, using the linear interpolation method we get
20% - 15%/ IRR -15 = 95-(-150) / 0-(-150)
20% - 15%/ IRR -15 = 245 / 150
5 / IRR -15 = 1.63
1/IRR -15 = 0.326
1/0.326 = IRR - 15
3.067 = IRR -15
IRR = 3.067+ 15
IRR = 18.067%
It is estimated that the annual maintenance cost of a statue erected in front of a public building in a state capital would be $1,000. Assuming an interest rate of 4% compounded annually, determine the capitalized cost for maintaining the statue.
Answer:
$24,630.54
Explanation:
Calculation to determine the capitalized cost for maintaining the statue
First step is to calculate the Effective interest rate
Effective interest rate = (1+.04/4) ^4 -1
Effective interest rate= 0.04060
Last step is to calculat the capitalized cost for maintaining the statue using this formula
Capitalized cost =Annual maintenance cost /Effective interest rate
Let plug in the formula
Capitalized cost = ($1,000/0.04060)
Capitalized cost = $24,630.54
Therefore the capitalized cost for maintaining the statue will be $24,630.54
Match each balance sheet item to its correct category.
Categories: Assets, Liabilities, Equity
Balance sheet items: Cash, Rent, Loan, wages payable, retained earnings, computers, furniture, owners personal investment
Answer:
See below
Explanation:
Assets, Liabilities, and Equity form the basis for preparing the balance sheet. They make the accounting equation of Assets= Liabilities + Equity.
Assets are the valuables a business owns. They can be in the form of cash, money in the banks, financial instruments, properties, machines, or motor vehicles.
Assets will be
Cashcomputers,furnitureLiabilities are what the business owes to third parties and supplies. Liabilities are usually in the monetary form, such as loans, rent, and accounts payable.
Liabilities
Rent, Loanwages payable,Equity is the owner's contribution to the business. They include capital and retained earnings.
Equity
retained owners personal investment earnings,Compute the standard cost for one hat, based on the following standards for each that:_______. Standard material: 3/4 yard of fabric at $5.00 per yard Standard labor: 2 hours at $5.75 per hour Factory overhead: $3.20 per direct labor hourRound your answer to two decimal places. Total standard cost $______
Answer:
$21.65
Explanation:
Computation for the Total standard cost
Using this formula
Total standard cost = Material cost + Labor cost + Overhead cost
Let plug in the formula
Total standard cost = 3/4*5 + 2*5.75 + 3.2*2
Total standard cost= $21.65
Therefore the Total standard cost will be $21.65
If the general level of interest rates in the economy moves up, then investors will require a _____ rate of return on securities, and, in general, stock prices should _____ , ceteris paribus.
A. lower, increase
B. higher, decline
C. higher, increase
D. lower, decline
Answer:
B. higher, decline
Explanation:
Monetary policy can be defined as the actions (macroeconomic policies) adopted and undertaken by the central bank of a particular country to control the money supply and interest rates so as to boost or enhance economic growth. The central bank uses monetary policies to manage inflation, economic growth through long-term interest rates and level of unemployment in a country. In order to boost economic growth, monetary policy is used to increase money supply (liquidity) while it is also used to prevent inflation by reducing money supply.
If the general level of interest rates in the economy moves up, then investors will require a higher rate of return on securities such as bonds, and, in general, stock prices should decline because they are less volatile, ceteris paribus (all things being equal).
What are some types of performance that a manaer would have to control for a home health care agency? A. A health insurance companyB. A primary care clinicC. An outpatient surgery facilityD. A mental health counseling center E. A medical supply store
Answer:
A. A health insurance company
B. A primary care clinic
E. A medical supply store
Explanation:
Management control can be defined as how the role of various individuals and groups within an organization are being monitored, controlled, and regulated to perform specific actions and avoid other non-essential activities to accomplish the organization's goals.
For a health care agency, some types of performance the manager would have to control for a home health care agency are:
A health insurance company:
Their role is to ensure that high health care cost is made affordable to individuals.
They must also ensure that a top-notch health service is being provided to the patients.
A primary care clinic:
They are responsible for the prevention of disease outbreaks and counseling their clients about how to take good care of their health conditions.
A medical supply store:
They serve as an inventory supply unit that are liable for the distribution of medical supplies to the individuals.
Dusty Corporation began business on January 1, 2020. The corporate charter authorizes issuance of 100,000 shares of .01 par value common stock and 10,000 shares of $1 par value, 10% cumulative preferred stock. On July 1, 2020, Dusty issued 30,000 shares of common stock in exchange for three years of rent on a retail location. The cash rental price is $4,200 per month and the rental period begins July 1. How should Dusty adjust its financial statement for the issuance of the shares on July 1?
a. Increase cash by $151,200, and increase prepaid rent by $151,200.
b. Increase prepaid rent by $151,200, and increase common stock by $151,200.
c. Increase prepaid rent by $151,200, increase common stock by $300 and increase additional paid-in capital by $150,900.
d. Increase prepaid rent by $151,200, increase common stock by $150,900, and increase additional paid-in capital by $300.
Answer:
The answer is "Option c".
Explanation:
Dr. Cr.
Prepayment of rent 151,200
Popular stock 300
Extra capital expenditures 150,900
Dusty Corporation should adjust its financial statement to record the issuance of the shares on July 1, 2020 as follows:
c. Increase prepaid rent by $151,200, increase common stock by $300, and increase additional paid-in capital by $150,900.
Data and Calculations:
Authorized share capital:
100,000 shares, Common Stock at $0.01 par value = $1,000 ($100,000 x $0.01)
10,000 shares, 10% Cumulative Preferred Stock at $1 par value = $10,000 (10,000 x $1)
Analysis of Issuance:
30,000 shares, Common Stock at $0.01 par value = $300 (30,000 x $0.01)
Rental cost = $151,200 ($4,200 x 36 months)
Prepaid Expense $151,200 Common Stock $300 Additional Paid-in Capital $150,900 ($151,200 - $300)
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Yukelson Company owns the building occupied by its administrative office. The office building was reflected in the accounts at the end of last year as follows:
Cost when acquired $ 396,000
Accumulated depreciation (based on straight-line depreciation, an estimated life of 50 years, and a $36,000 residual value) 72,000
During January of this year, on the basis of a careful study, management decided that the total estimated useful life should be changed to 30 years (instead of 50) and the residual value reduced to $30,000 (from $36,000)). The depreciation method will not change.
Required:
1. Compute the annual depreciation expense prior to the change in estimates.
2. Compute the annual depreciation expense after the change in estimates.3. What will be the net effect of changing estimates on the balance sheet, net income, and cash flows for the year?
Answer:
1. Compute the annual depreciation expense prior to the change in estimates.
annual depreciation = ($396,000 - $36,000) / 50 = $7,200 per year
2. Compute the annual depreciation expense after the change in estimates.
annual depreciation = ($324,000 - $30,000) / 20 = $14,700 per year
3. What will be the net effect of changing estimates on the balance sheet, net income, and cash flows for the year?
Any changes in an asset's useful life are reported prospectively, this means that they do not affect any past records, only future records are affected. In this case, the depreciation expense per year will increase form $7,200 to $14,700, so net income will be negatively affected by it. Cash flows will not be affected, since depreciation expense is a non-cash expense. P,P&E on the balance sheet will be affected because the net value of the building will decrease faster.
Troy will receive $7,500 at the end of Year 2. At the end of the following two years, he will receive $9,000 and $12,500, respectively. What is the future value of these cash flows at the end of Year 6 if the interest rate is 8%?a. $36.121.08.b. $38,418.80.c. $32,90767.d. $39,010.77.e. $33,445.44.
Answer:
Total FV= $36,121.08
Explanation:
Giving the following information:
Cash flows:
Cf2= $7,500
Cf3= $9,000
Cf4= $12,500
Interest rate= 8%
To calculate the future value, we need to use the following formula on each cash flow:
FV= PV*(1+i)^n
Cf2= 7,500*(1.08^4)= 10,203.67
Cf3= 9,000*(1.08^3)= 11,337.41
Cf4= 12,500*(1.08^2)= 14,580
Total FV= $36,121.08
What is the minimum number of integers that you must pick between 0 and 9 (inclusive), such that two of them add up to 9?
Answer:
6
Explanation:
there are 5 different possible combinations of two integers that equal 9 when you add them together:
(0,9)(1,8)(2,7) (3,6)(4,5)The worst case scenario is that you choose 0, 1, 2, 3, and 4, and adding any pair will not result in 9. So you will need to choose a sixth number and whichever that number is (either 5, 6, 7, 8 or 9), you will be able to add it to another one to get 9.
The best case scenario is that you choose only two and you are lucky enough to get a combination that works.
Suppose you buy a 7 percent coupon, 20-year bond today when it’s first issued. If interest rates suddenly rise to 15 percent, what happens to the value of your bond?
a. the price of the bond will fall
b. the price of the bond will raise
Answer: a. the price of the bond will fall.
Explanation:
If one buys a 7% coupon, 20-year bond today when it’s first issued and the interest rates suddenly rise to 15%, the value of the bond will decrease.
This is because there's an inverse relationship between price and interest rates, that is, the increase in one variable will lead to the decrease in the other variable. When there is a rise in the inters rate, it should be noted that the payments on fixed coupon are worth less.
Therefore, the price of the bond will fall.
Suppose Shaan invested just $10,000 of his own money and had a $90,000 mortgage with an interest rate of 8.5 percent. After three years, he sold the property for $120,000.
(a) What is his gross profit?
(b) What is his net profit or loss? (Input the amount as a positive value.)
(c) What is the rate of return on investment? (Negative amount should be indicated by a minus sign. Enter your answer as a percent rounded to 2 decimal places.)
Answer:
a. $20,000
b. -$2,950
c. -29.50%
Explanation:
The computation is shown below:
a. Gross Profit is
= Sale value of Property - Invested amount - Mortgage amount
= $120,000 - $10,000 - $90,000
= $20,000
b. Net Profit
= Gross profit - number of years × mortgage amount × rate of interest
= $20,000 - 3 × $90,000 × 8.5%
= -$2,950
And,
c) Rate of return is
= Net profit ÷ invested amount
= -$2,950 ÷ $10,000
= -29.50%
Suppose you have $10,000 in cash and you decide to borrow another $10,000 at a(n)6% interest rate to invest in the stock market. You invest the entire $20,000 in an exchange-traded fund (ETF)with a 10% expected return and a 20% volatility. Assume that the ETF you invested in returns -10%. Then the realized return on your investment is closest to ________.
A)-18%
B)-10%
C)-23%
D)-26%
Answer:
D)-26%
Explanation:
The computation of the realized return on your investment is shown below:
= (Rate of return × total investment) - (interest paid)
= (-10% × $20,000) - (6% × $1,000)
= (-$2000 - $600)
= -$2,600
Now the Rate of return is
=(-$2,600 ÷ $10,000)
= -26%
hence, the realized return on your investment is -26%
Therefore the correct option is D.
The human resources department at a major high tech company recently conducted an employee satisfaction survey of 100 of its 3000 employees.Data were collected on such variables as age,gender,marital status,current salary,level of overall satisfaction on a scale from 1 to 5,number of years with the company,and job title.Which of the variables listed are considered to be ratio level data?A) Age and years with the companyB) Gender and marital statusC) Job titleD) None of the variables is ratio level.
Answer: Gender and marital status and Job title.
Explanation:
Ratio scale simply refers to a form of quantitative variable measurement scale whereby differences can be compared by the researcher.
Of the options given among variables listed are considered to be ratio level data are gender, marital status and Job title.
how is an emergency fund simalar to and different from a savings fund?
What's the future value of $55,000 after 20 years if the appropriate interest rate is 3%, compounded semiannually?
Answer:
$99,771
Explanation:
future value = present value x (1 + interest rate)ⁿ
present value = $55,000interest rate = 3% / 2 = 1.5% semiannualn = 20 years x 2 = 40 semiannual periodsfuture value = $55,000 x (1 + 1.5%)⁴⁰ = $55,000 x 1.81402 = $99,771
When interest is compounded semiannually, the effective interest rate is slightly higher than when it is compounded annually.
effective interest rate = (1 + 3%/2)² - 1 = 3.0225%
Parker is a highly skilled sales person at Byberry, which is a 30-year-old company that has grown significantly in terms of revenue and product offerings. It sponsors a pension plan that provides a benefit of 2% times the years of participation times the average of the final three years of salary. Parker has worked for Byberry for the last 30 years and earned $200,000 two years ago, $150,000 last year, and $250,000 this year. If he is retiring this year, how much should he expect to receive as a pension benefit?
Answer:
$120,000
Explanation:
The retirement benefit that Parker expects is
2% x number of years worked( 30 ) x {($200,000 +$150,000 +$250,000) /3}
=2/100 x 30 x (600,000/3)
=0.02 x 30 x $200,000
=0.6 x $200,000
=$120,000
Discuss environmental factors related to population that are changing the way certain people approach car buying and are thus creating new market segments.
Explanation:
Sustainability is a subject that is growing in the world in which we live, there is a greater dissemination of information on environmental responsibility in the communication media and campaigns so that there is a reduction in the environmental impacts caused by large companies.
The greater interest in the subject, leads to a greater awareness and desire of people to consume sustainable products, this scenario leads to two considerations: companies are encouraged to implement environmental protection programs, and new products and services that meet the new requirements emerge. environmental requirements that are emerging, such as the greater demand for electric cars, which have cleaner and more sustainable energy.
Suppose that instead of paying per hour, a moving company offers a flat rate of $1,200 for movers plus a truck for an eight hour day. If you hired this moving company and used them for the entire eight hours, how much consumer surplus would you gain?
Answer:
the first part of the question is missing, so I looked for a similar one (see attached image):
the cost of hiring a moving crew for 8 hours = $250 per hour x 8 hours = $2,000
the competing company offered you a deal worth $1,200
since you expect to use the moving crew during the whole 8 hours, you will gain = $2,000 - $1,200 = $800 in consumer surplus
Consumer surplus is the difference between what a consumer (in this case you) are willing to pay for a good or service and the actual price of the good or service. Consumer should be willing to consumer a good or service as long as the consumer surplus is ≥ 0.
800 dollars of consumer surplus would be earned.
We can arrive at this answer as follows:
You must calculate the cost of hiring the team. This will be done with the following calculation:[tex]250*8=2,000[/tex]
In this case, we can consider that the cost of hiring the team for eight hours of work will be [tex]2,000[/tex] dollars.
Then, we can calculate the difference between the team's hiring price and the $1,200 that the competitor offered. This will be done with the following calculation:
[tex]2,000-1,200=800[/tex]
With that, we can say that the consumer surplus is equal to 800 dollars.
The question above is incomplete. The full question is in the attached image.
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Mounts Corporation produces and sells two products. In the most recent month, Product I05L had sales of $32,000 and variable expenses of $10,880. Product P42T had sales of $45,000 and variable expenses of $18,380. And the fixed expenses of the entire company were $46,070. The break-even point in sales dollars for the entire company is closest to
A. $75,330
B. $74,306
C. $30,930
D. $46,070
Answer:
B. $74,306
Explanation:
First, we need to calculate contribution margin for both.
Product 105L
Sales $32,000
Less variable expenses ($10,880)
Contribution margin $21,120
Contribution margin ratio = Contribution margin ÷ Sales
= $21,120 ÷ $32,000
= 66%
Product P42T
Sales $45,000
Less variable expenses ($18,380)
Contribution margin $26,620
Contribution margin ratio = Contribution margin ÷ Sales
= $26,620 ÷ $45,000
= 59.2%
Total sales for both products $77,000
Less Total variable expenses ($29,260)
Total contribution margin $47,740
Total contribution margin ratio $47,740 ÷ $77,000 = 62%
Fixed expenses for both companies = $46,070
Therefore,
Break even point in sales for both companies = Total fixed expenses ÷ Contribution margin ratio
= $46,070 ÷ 62%
= $74,306.45
To _____ an activity means to shorten the time it will take. A. smash B. fund C. crash D. aggregate E. matrix
When benchmarking measures against the best levels of performance, these best levels may be found:A. inside the organization.B. outside the organization.C. inside and outside the organization.D. None of these is correct.
Answer:
C. inside and outside the organization
Explanation:
Benchmarking is the process in which the company compared its products and processes with the other companies to measure its performance.
But for the best performance level here we have to considered it for both internal and outside organization that involves the customers, competitors, suppliers, etc
Therefore the correct option is c
And, the same is to be considered
For the past year, Momsen, Ltd., had sales of $45,212, interest expense of $3,386, cost of goods sold of $15,609, selling and administrative expense of $11,196, and depreciation of $5,545. If the tax rate was 35 percent, what was the company's net income?
Answer:
$11,704
Explanation:
Given the above information, we will use the formula below to calculate the net income.
Net income= (Sales - cost of goods sold - selling and administrative expenses - interest - depreciation expense - depreciation) - tax + depreciation.
Sales
$45,212
COGS
($15,609)
Gross profit
29,603
Less:
Selling and administrative expense
($11,196)
Interest expense
($3,386)
Depreciation
($5,545)
EBT
$9,476
Tax $9,476 × 35% = ($3,317)
Depreciation
$5,545
Net income
$11,704
Quilcene Oysteria farms and sells oysters in the Pacific Northwest. The company harvested and sold 7,200 pounds of oysters in August. The company’s flexible budget for August appears below:
Quilcene Oysteria
Flexible Budget
For the Month Ended August 31
Actual pounds (q) 7,200
Revenue ($4.20q) $30,240
Expenses:
Packing supplies ($0.35q) 2,520
Oyster bed maintenance ($3,300) 3,300
Wages and salaries ($2,000 + $0.35q) 4,520
Shipping ($0.65q) 4,680
Utilities ($1,290) 1,290
Other ($460 + $0.01q) 532
Total expense 16,842
Net operating income $13,398
The actual results for August were as follows:
Quilcene Oysteria
Income Statement
For the Month Ended August 31
Actual pounds 7,200
Revenue $27,200
Expenses:
Packing supplies 2,690
Oyster bed maintenance 3,160
Wages and salaries 4,930
Shipping 4,410
Utilities 1,100
Other 1,152
Total expense 17,442
Net operating income $9,758
Required:
Compute the company’s revenue and spending variances for August.
Answer:
Quilcene Oysteria
Computation of revenue and spending variances for August:
Flexible Actual Variance
For the Month Ended August 31
Actual pounds (q) 7,200 7,200 None
Revenue ($4.20q) $30,240 27,200 $3,040 U
Expenses:
Packing supplies ($0.35q) 2,520 2,690 -170 U
Oyster bed maintenance ($3,300) 3,300 3,160 140 F
Wages and salaries ($2,000 + $0.35q) 4,520 4,930 -410 U
Shipping ($0.65q) 4,680 4,410 270 F
Utilities ($1,290) 1,290 1,100 190 F
Other ($460 + $0.01q) 532 1,152 -620 U
Total expense 16,842 17,442 -600 U
Net operating income $13,398 $9,758 -3,640 U
Explanation:
Quilcene Oysteria 's budget comparison with actual performance shows that there is an unfavorable variance of $3,640 arising from the less than impressive sales revenue and excessive spending incurred during August. The firm realized less revenue than budgeted and incurred more expenses than budgeted. The result is this unfavorable variance of $3,640.