Maria Am Corporation uses a process costing system. The Baking Department is one of the processing departments in its strudel manufacturing facility. In June in the Baking Department, the cost of beginning work in process inventory was $3,570, the cost of ending work in process inventory was $2,860, and the cost added to production was $43,120. Required: Prepare a cost reconciliation report for the Baking Department for JuneBanking DeparmentBost ReconciliationCosts to be accounted forBlank blank blank amountBlank blank blank amountTotal costs to be accounted forCosts accounted for as followsBlank blank blank amountBlank blank blank amountTotal cost accounted for
Answers
Answer:
Explanation:
The following information can be derived from the question above:
The cost of the beginning work in the process inventory = $3,570
The cost of the ending work in the process inventory = $2,860
The cost that is added to the production = $43,120.
In the attached document, it should be noted that the cost of goods that were transferred out was calculated as:
The total cost to be accounted for minus the cost of the ending work in the process inventory. This is:
= 46690 - 2860
= 43830
The cost reconciliation report for the Baking Department for June has been solved and attached.
Related Questions
a manufacturing firm is considering two locations for a plant to produce a new product. the two locations have fixed and variable costs as folls location FC(ANNUAL) VC(per unit) atlanta $80,000 $20 phoenix $140,000 $16 IF THE ANNUAL DEMAND WILL BE 20,000 units, what would be the cost advantage of the better location? HINT: compare the total costs a 60000 b 20000 c 460000 d 40000
Answers
Answer:
b $20,000
Explanation:
For computation of cost advantage first we need to find out the total cost of Atlanta and Phoenix which is shown below:-
Total cost = Fixed cost + (Variable cost × Number of units)
For Atlanta
The Total cost = $80,000 + ($20 × 20,000)
= $480,000
For Phoenix
The Total cost = $140,000 + ($16 × 20,000)
= $460,000
According to the above calculation, Phoenix is best location because it has lower total cost.
So
The Cost advantage at Phoenix = Total cost of Atlanta - Total cost of Phoenix
= $480,000 - $460,000
= $20,000
James is dreading going to get his UF parking decal because he knows that the lines are usually three hours long. However, when he gets in line, he receives his parking decal in only thirty minutes. Which of the following is James probably experiencing?
A. Dissatisfaction
B. Satisfaction
C. Alternative
D. Evaluation
E. Bounded
F. Rationality
G. Delight
Answers
Answer:
Delight
Explanation:
James is dreading going to get his UF parking decal because he knows that the lines are usually three hours long. However, when he gets in line, he receives his parking decal in only thirty minutes. Which of the following is James probably experiencing?
Definitely, he will be experiencing a delight because he was actually expecting to meet a queue which will last for nothing less that 3 hours, but fortunately for him, he got what he went for within the space of time of 30minutes. So, he has been saved of extra 2hours 30minutes of stress due to the long queue. Hence, he will definitely be delighted.
The 2021 income statement of Adrian Express reports sales of $17,262,000, cost of goods sold of $10,624,000, and net income of $1,640,000. Balance sheet information is provided in the following table.
Adrian Express
Balance Sheets
December 31, 2018 and 2017
2018 2017
Assets
Current assets: 510,000 670,000
Cash 1,220,000 910,000
Accounts receivable 1,620,000 1,310,000
Inventory 4,710,000 4,150,000
Long-term assets
Total assets $8,060,000 $7,040,000
Liabilities and Stockholders' Equity
Current liabilities s $1,930,000 $1,570,000
Long-term liabilities 2,270,000 2,310,000
Common stock 1,820,000 1,820,000
Retained earning 2,040,000 1,340,000
Total liabilities and stockholders'
equity $8,060,000 $7,040,000
Industry averages for the following four risk ratios are as follows:
Average collection period 25 days
Average days in inventory 60 days
Current ratio 2 to 1
Debt to equity ratio 50%
Required:
Calculate the four risk ratios listed above for Adrian Express in 2018.
Answers
Answer:
Industry average Adrian Express
Average collection period 25 days 31 days
Average days in inventory 60 days 152 days
Current ratio 2 3.91
Debt to equity ratio 50% 109%
Explanation:
Average collection period = (average accounts receivable / total net credit sales) x 365 days = {[(1,620,000 + 1,310,000) / 2] / 17,262,000} x 365 days = 30.98 ≈ 31 days
Average days in inventory = 365 days / inventory turnover
inventory turnover = COGS / average inventory = 10,624,000 / [(4,710,000 4,150,000) / 2] = 2.4
Average days in inventory = 365 days / 2.4 = 152 days
Current ratio = current assets / current liabilities = (cash + accounts receivable + inventory) / $1,930,000 = ($1,220,000 + $1,620,000 + $4,710,000) / $1,930,000 = $7,550,000 / $1,930,000 =3.91
Debt to equity ratio = total liabilities / stockholders' equity = $4,200,000 / $3,860,000 = 1.09 or 109%
Consider the role of management accounting in relation to the company for which you work (or have worked). Discuss how the principles of management accounting can be utilized. What specific managerial accounting activities would be useful?
Answers
Answer:
Role of management accounting :
1. provide internal information on operations
2. help in decision making
Utilization of management accounting principles
1. make or buy decisions
2. continuing or discontinuing of operations
Useful managerial Accounting Activities
1. planning
2. deciding on the alternative causes of action
Explanation:
Role of Management Accounting is to provide managers with information related to their operations.This includes the costs and revenue incurred, the deviations from the planned costs and revenue and profit targets.
This information would help to control costs and revenues or make certain decisions of continuing or discontinuing operating of a product or segment.
Thus managerial accounting activities that are useful are planning, deciding on the alternative causes of action, implementation, monitoring and control
The role of management accounting in a company is to analyze financial information for a period to assist managers in the decision-making process for achieving organizational goals.
The management accounting principles defined by the American Institute of CPAs (AICPA) are:
InfluenceRelevanceValueConfidenceThrough the four global principles, management accounting activities such as strategic definition, control and direction will be managed more effectively.
The availability of data and information will provide greater support for the creation of value through greater vision of organizational environments, transparency and reliability to attract investments.
Learn more here:
https://brainly.com/question/15800664
Consider the following data for the United States: Year Real GDP ($ billion) 20172017 18 comma 108.118,108.1 20182018 18 comma 638.218,638.2 *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. The percentage change in real GDP from 20172017 to 20182018equals= 2.932.93%. (Enter your response rounded to two decimal places and include a minus sign if necessary.) This percentage change in real GDP is also known as
Answers
Answer:
The percentage change in real GDP is 2.93%
Real economic growth rate
Explanation:
The percentage in real GDP between year 2017 and 2018 can be computed using the below formula:
% change in real GDP=2018 real GDP-2017 real GDP/2017 real GDP
2017 real GDP is 18,108.1
2018 real GDP is 18,638.2
% change in real GDP=(18,638.2- 18,108.1)/ 18,108.1=2.93%
This percentage change in real GDP is also known as real economic growth rate.Economic growth rate is the rate of improvement in the economy with respect to additional value-adding goods and services produced by an economy with viz-a-viz the prior year
Read the following situation, and then answer the questions.
You have been working in an entry-level position in the Environmental Health and Safety division of a company for the last six months. You spend your time reviewing safety reports, entering them into the database, and compiling statistical analyses of the results for your superior, Ray Blaine. Lately, Mr. Blaine has been asking you when each report will be finished. Following this query, Mr. Blaine often compliments you on the results of your past analyses.
1) What is the most important message your superior is trying to deliver?
A. He is worried about the results of your analysis.
B. He wants to know when the report will be ready.
C. You are ready for a promotion.
2) What can you do to listen more effectively to your superior?
A. Lean forward and make eye contact.
B. Paraphrase his questions in return.
C. Ask questions in return.
Answers
Answer:
1)B
2)C
Explanation:
1) Mr. Blaine wants to know when will the results be ready. He is complimenting to let you know that he has good expectations from you.
2) Asking questions in return lets the other person know that you are interested in the conversation.
Answer:
Question 1 answer is B
Question 2 answer is C
Explanation:
1. From the data in the question, we can tell what your superior has in mind.
- The fact that Mr Blaine has been asking when each report will be finished shows that he is concerned ABOUT THE AMOUNT OF TIME it takes you to complete work on a safety report.
- He often compliments you on the results of your past analyses. This means that he is recertifying that your results come out fine and accurate BUT need to start coming out FASTER. He uses the compliments to lift your spirit so you don't feel downcast by the complaints. So you can be sure that as far as the work is concerned, YOU ARE GETTING IT RIGHT but as far as delivery window is concerned, you are delivering SLOWLY.
So the answer is B - he is most concerned about the timeframe you use to go through each report. He wants you to understand that good timing adds to the quality of a result!
2. The three options here are things you can do, to listen more effectively to your superior. The most important though is C.
You need to ask questions in return!
- Ask questions on the clarification of what exactly you are expected to do, in order to produce results that are both accurate and timely.
- Ask Mr. Blaine how he thinks you should go about it.
- Ask questions where you don't understand
- Ask when exactly you are to submit each result
After he replies, put his advice and corrections into practice.
Here are the 2015 revenues for the Wendover Group Practice Association for four different budgets (in thousands of dollars):
Static Budget Flexible (Enrollment/ Utilization) Budget Flexible (Enrollment) Budget Actual Results
$425 $200 $180 $300
a. What do the budget data tell you about the nature of Wendover's patients: Are they capitated or fce-for-service?
b. Calculate and interpret the following variances: Revenue variance Volume variance Price variance Enrollment variance Utilization variance
Answers
Answer: The answer is provided below
Explanation:
a). The revenue here shows that
Wendover's patients were capitated. The is because the actual revenue figures were assumed to be $180, but it
later came to $300 which means that the revenue increased.
The reason is that a capitated patient provides fixed payment a year, while a fee for service client pays per usage. With this explanation, it can be concluded that majority of Wendover's patients are fee for service because the difference between static results and the actual results is very high.
) 1. Revenue variance
= Actual Revenues - Static budget
= $ 300 - $ 425
= - $125
2. Volume variance
= Flexible Revenue - Static Budget
= $ 200 - $ 425
= - $ 225
3. Price Variance
= Actual Revenues - Flexible Revenues
=$300 - $200
= $100
4. Enrollment variance
= Flexible Revenues - Static Budget
= $ 180 - $ 425
= - $ 245
5. Utilization variance
= Flexible Revenue- Flexible Budget
= $ 200 - $ 180
= $ 20
Answer:
Kindly check Explanation
Explanation:
The difference between capita tes and fee-for-service is how payment is made, In capitates, a fixed annual amount is paid whereby In fee-for-service, payment is made separately for each service demanded. Thus it could be concluded from the data they the patients are fee-for - service due to the difference in the static and actual figure provided.
Given the following :
Static Budget - $425
Flexible (Enrollment/ Utilization) -$200
Budget Flexible (Enrollment) Budget -$180
Actual Results - $300
B)
Revenue variance = (Actual Revenues - Static Revenue)
Revenue variance = ($300-$425) = -$125 (Unfavorable)
This shows that the Wendover have less patients who use the services.
Volume variance = (Flexible Revenues (enrollment and utilization) – Static Revenues)
Volume variance = ($200 – $425) = -$225
Price variance = (Actual Revenues – Flexible Revenue)
Price variance = ($300 - $200)
Price variance = $100 F
Price variance is favorable which means service charge is high.
Enrollment variance = (Flexible Revenues (enrollment) – Static Revenue)
Enrollment variance = $180 – $425 = -$245
Utilization variance =Flexible revenues (enrollment/utilization) - Budget Flexible (Enrollment) Budget
$200 - $180 = $20
The current sections of Flint Corporation’s balance sheets at December 31, 2016 and 2017, are presented here. Flint Corporation’s net income for 2017 was $156,213. Depreciation expense was $27,567.
2017
2016
Current assets
Cash
$107,205
$ 101,079
Accounts receivable
81,680
90,869
Inventory
171,528
175,612
Prepaid expenses
27,567
22,462
Total current assets
$387,980
$390,022
Current liabilities
Accrued expenses payable
$ 15,315
$ 5,105
Accounts payable
86,785
93,932
Total current liabilities
$102,100
$ 99,037
Prepare the net cash provided (used) by operating activities section of the company’s statement of cash flows for the year ended December 31, 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).)
Answers
Answer:
209305
Explanation:
Statement of cash flow
Cash from operating activities
Profit after taxation 156213
Adjustments :
Depreciation 27567
Cash flow from operating activities before working capital changes 183780
Working Capital changes :
Change in trade receivables 9189
Change in inventories 4084
Change in prepaid expenses (5105)
Change in trade payables 7147
Change in accrued expenses 10210
Cash generated from operations 209305
Assume Zap industries reported the following adjusted account balances at year-end. 2019 2018 Accounts Receivable $ 1,690,200 $ 1,340,920 Allowance for Doubtful Accounts (92,000 ) (76,300 ) Accounts Receivable, Net $ 1,598,200 $ 1,264,620 Assume the company recorded no write-offs or recoveries during 2019. What was the amount of Bad Debt Expense reported in 2019
Answers
Answer:
amount of Bad Debt Expense for 2019 = $92,000
Explanation:
A bad debt expense is a uncollectible receivable amount incurred on a credit sale to a customer, who is no longer able to pay the debt, due to bankruptcy or other financial problems. Companies make provision for these kind of credit losses in the allowance for doubtful accounts, and hence records the amount used from the allowance for doubtful accounts as the bad debt expense.
In our example, the allowance for doubtful account for 2019 is $92,000, hence since it was used to settle part of the credit losses, this becomes the bad debt expense.
You are attempting to value a call option with an exercise price of $100 and one year to expiration. The underlying stock pays no dividends, its current price is $100, and you believe it has a 50% chance of increasing to $120 and a 50% chance of decreasing to $80. The risk-free rate of interest is 10%.Based upon your assumptions, calculate your estimate of the the call option's value using the two-state stock price model.
Answers
Answer:
$13.64
Explanation:
Given:
Exercise price,X = $100
Current price = $100
Value when price is up, uS = $120
Value when price is down, dS= $80
Risk free interest rate = 10%
First calculate hedge ratio, H:
[tex] H = \frac{C_u - C_d}{uS - dS} [/tex]
Where,
Cu = uS - X
= 120 - 100
= $20
[tex] H = \frac{20 - 0}{120 - 80} = \ftac{1}{2}[/tex]
A risk free portfolio involves one share and two call options.
Find cost of portfolio:
Cost of portfolio = Cost of stock - Cost of the two cells.
= $100 - 2C
This portfolio is risk free. The table below shows that
_______________
Portforlio 1:
Buy 1 share $80; Write 2 calls: $0; Total: ($80 + 0) $80
____________________
Portforlio 2:
Buy 1 share: $120; Write 2 calls: -$40; Total: ($120 - $40) $80
Check for oresent value of the portfolio:
Present value [tex] = \frac{80}{1 + 0.10} = 72.73 [/tex]
Value = exercise price - value of option
$72.73 = $100 - 2C
Find call option, C
[tex] C = \frac{100 - 72.73}{2} = 13.64 [/tex]
Call option's value = $13.64
Business process design (BPD) is also adequately named the following except:__________.
a. Reengineering
b. Business process innovation
c. Business process engineering
d. Downsizing or restructuring
Answers
George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he sold only 4,000 T-shirts. Which of the following best approximates the price elasticity of demand? -2.2 -1.8 -2 -2.6 Suppose George's marginal cost is $5 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price was .
Answers
Answer: George's initial price markup over marginal cost was approximately 41.2% George's desired markup is 45% Since George's initial markup, or actual margin, was Less than his desired margin, raising the price was profitable
Explanation:
a) Price Elasticity of Demand = [(Q1-Q2)/(Q1+Q2)] / [(P1-P2)/(P1+P2)]
= 5000- 4000/4000+ 5000) / 8.50- 9.50 /8.50 ₊9.50 =
1000/8000 / -1/ 18 = 0.125/-0.055 = -2.2
George's initial price markup over marginal cost was approximately
when Marginal cost = $5
b)initial price markup = Price - marginal cost / price = 8.50 - 5.00/ 8.50 = 0.412= 41.2%
C) George's desired margin = 1/absolute value of price elasticity = 1/ 2.2= 0.45= 45%
.
D)Since George's initial markup or actual margin was less than his desired margin, raising the price is profitable.
This is because When the markup is lower than the margin, business is running on a loss, so it is nessesary to increase price.
Handy Home sells windows and doors in the ratio of 7:3 (windows:doors). The selling price of each window is $111 and of each door is $261. The variable cost of a window is $68.00 and of a door is $180.50. Fixed costs are $515,375.
Required:
1. Determine the selling price per composite unit.
2. Determine the variable cost per composite unit.
3. Determine the break-even point in composite units.
4. Determine the number of units of each product that will be sold at the breakeven point.
Answers
Answer:
Instructions are below.
Explanation:
Giving the following information:
Handy Home sells windows and doors in the ratio of 7:3 (windows:doors).
Window:
Selling price= $111
Unitary variable cost= $68
Door:
Selling price= $261
Unitary variable cost= $180.5
Fixed costs are $515,375.
1) Selling price per composite unit:
Selling price= 0.7*111 + 0.3*261= $156
2) Composite variable cost:
Variable cost per unit= 0.7*68 + 0.3*180.5= 101.75
3) To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 515,375/ ( 156 - 101.75)
Break-even point in units= 9,500 units
4) Units for each product:
Windows= 0.7*9,500= 6,650
Door= 0.3*9,500= 2,850
Which of the following is TRUE regarding journal entries: a) There are always only two accounts affected b) The total amount debited must equal the total amount credited c) Journal entries show debits on the right and credits on the left d) Journal entries show credits first, then debits
Answers
Answer: b) The total amount debited must equal the total amount credited
Explanation:
Journal entries on the debit side must always equal entries on the credit side. This is to fulfil the Accounting requirement of Double Entry where every entry in the books must have an equal and corresponding entry as well.
There can be multiple accounts represented in the journal entry but the amount on the credit side needs to balance with the amount on the debit side.
For example, a good to sold to Hillary by Trump for $30. Trump gives Hillary a discount of 10%. Trump will record that entry as,
DR Cash $27
DR Sales Discount $3
CR Accounts Receivable $30
Notice that the Debit side has 2 accounts but they still add up to the $30 on the Credit side.
Which of the following statements about pricing is true? Small changes in price can have big effects on company profit but not on the number of units sold. Small changes in price can have big effects on the number of units sold but not on company profit. Small changes in price can have big effects on the number of units sold and also on company profit. Compared to the other 4P’s, pricing is important because once an item has been priced, changing its price can be quite difficult.
Answers
Answer:
Small changes in price can have big effects on the number of units sold and also on company profit
Explanation:
Small change in price will definitely have an effect on the amount of units sold due to a corresponding change in demand that will follow this change, and also will affect the amount of profit that the company generates. This changes can either be positive or negative to the company. Example is the increase in price of coca-cola might trigger customers into switching to pepsi-cola, resulting in a reduced demanded quantity which means less units are produced. The overall effect of these will leave the company with less profit.
Nash's Trading Post, LLC issued a five-year interest-bearing note payable for $222000 on January 1, 2019. Each January the company is required to pay $44000 on the note. How will this note be reported on the December 31, 2020, balance sheet
Answers
Answer:
balance sheet
liabilities
note payables (current portion) 44,000
non-current liabilities
long-term note payable 178,000
Explanation:
On December 31,2020 there will be a portion of the note that will be declared as current liability while another non-current as within 12-months there is payment due (to be more precise next day after the balance close)
Thus 222,000 - 44,000 = 178,000 long-term
while the 44,000 are declared short-term
Perhaps the most significant federal statute specifically addressing cyber crime is the:________.
a. Uniform Trade Secrets Act.
b. Anticybersquatting Espionage Act.
c. Computer Fraud and Abuse Act.
d. Berne Convention.
Answers
Answer:
c. Computer Fraud and Abuse Act.
Explanation:
Computer Fraud and Abuse Act (CFAA) is a cyber security bill that was enacted in 1986 and is an amendment of of Comprehensive Crime Control Act of 1984.
The acts forbids a person to access a computer without proper authorisation or an excess of required authority.
Before this time cybercrime was prosecuted as mail and wire fraud. This was often inadequate.
Other provisions the act addresses are distribution of malicious code, denial of service attacks, and trafficking in passwords
Assume you can buy 52 British pounds with 100 Canadian dollars. How much profit can you earn on a triangle arbitrage given the following rates if you start out with 100 U.S. dollars?
Answers
Answer:
$374.46
Explanation:
Incomplete question. However, I inferred the rates where; CAD/USD=1.35, EUR/USD=1.8305. Thus, using this formular we calculate the profit to be made
=$100 ×(C$1.35 ÷$1) ×(£100 ÷C$52) ×($1.8305 ÷$1)] - $100 = $374.46
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.20 per stone for quantities of 600 stones or more, $8.60 per stone for orders of 400 to 599 stones, and $9.10 per stone for lesser quantities. The jewelry firm operates 101 days per year. Usage rate is 19 stones per day, and ordering costs are $39. a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Do not round intermediate calculations. Round your final answer to the nearest whole number.) Order quantity stones b. If annual carrying costs are 21 percent of unit cost, what is the optimal order size
Answers
Answer:
a. 274
b. 295
Explanation:
a. Optimum Order
Optimum Order = √( (2×Total Annual Demand×Ordering cost per order) / Holding Cost per unit)
= √ ((2×101×19×$39) / $2)
= 273.57
= 274
b. Optimum Order
Optimum Order = √( (2×Total Annual Demand×Ordering cost per order) / Holding Cost per unit)
= √ ((2×101×19×$39) / $8.20 ×0.21)
= 294.83
= 295
The following costs are budgeted for Harlow Corporation for next year: The costs above are based on a level of activity of 20,000 units. Assuming that this activity is within the relevant range, what would total cost per unit be for Harlow if the level of activity was only 18,000 units?
Answers
Answer:
$48.50
Explanation:
Harlow Corporation
First step is to calculate for Variable cost per unit:
Variable cost per unit =
$270,000 ÷ 20,000 units
= $13.50 per unit
Second step is to calculate for the cost function
Cost function :
Y = $630,000 + $13.50X
Y= $630,000 + $13.50(18,000)
Y=$630,000+$243,000
Y = $873,000
Therefore:
Total cost / number of units = total cost per unit$
Total cost =$873,000
Number of units= 18,000
$873,000 ÷ 18,000
= $48.50
Therefore the total cost per unit is $48.50
Agatha's Inc. is about to introduce a new product in the market, but is not sure as to how it should price the product. The company is facing intense competition from five other companies. In such a situation, what should be Agatha’s Inc. pricing objective
Answers
Answer and Explanation:
There are two main pricing objective and strategy i.e competitive pricing and penetrative pricing which are explained below:
1. Competitive pricing :
In this Agatha's Inc, all five rivals should evaluate pricing models for a related kind of product. If your product has a little more value added than your collegaues, then you can establish a target price target that is higher than the competitors.
Now to do that, it's necessary to send the customer a message that they're purchasing value for a price.
2. Penetrative pricing :
When the target price is set on the basis of the competitive pricing model , it is important to obtain the product favourably from the consumer and to do so you can start selling a little lower than the target price and sell the goods as a discount or promotional deal.
If the initial sales are strong and buyers like the product then return the product to target pricing and do intensive marketing to sell the message that the product 's cost is a bargain for the value provided by the company.
The mixture of the above two pricing strategies would ensure a better positioning of Agatha's Inc product with better profitability.
Gwinnett Barbecue Sauce Corporation manufactures a specialty barbecue sauce. Gwinnett has the capacity to manufacture and sell 15,000 cases of sauce each year but is currently only manufacturing and selling 14,000. The following costs relate to annual operations at 14,000 cases: Total Cost Variable manufacturing cost $294,000 Fixed manufacturing cost $56,000 Variable selling and administrative cost $42,000 Fixed selling and administrative cost $38,000 Gwinnett normally sells its sauce for $45 per case. A local school district is interested in purchasing Gwinnett's excess capacity of 1,000 cases of sauce but only if they can get the sauce for $23 per case. This special order would not affect regular sales or total fixed costs or variable costs per unit. If this special order is accepted, Gwinnett's profits for the year will:
Answers
Answer:
Gwinnett's profits for the year will decrease by $1,000
Explanation:
total costs for normal 14,000 cases:
Variable manufacturing cost $294,000 / 14,000 = $21 per caseFixed manufacturing cost $56,000 Variable selling and administrative cost $42,000 Fixed selling and administrative cost $38,000total = $430,000the incremental revenue of selling 1,000 cases to the school district = $23 x 1,000 = $23,000
the incremental costs for producing and selling 1,000 more cases:
variable manufacturing costs = $21 x 1,000 = $21,000variable S&A costs = $3 x 1,000 = $3,000total incremental costs = $24,000incremental revenue - total incremental costs = $23,000 - $24,000 = -$1,000
Answer:
Effect on income= $1,000 decrease
Explanation:
Giving the following information:
Unitary variable costs:
Variable manufacturing cost= $294,000/14,000= $21
Variable selling and administrative= $42,000/14,000= $3
Special offer= 1,000 units for $23
Because it is a special offer and there is unused capacity, we will not take into account the fixed costs:
Effect on income= 1,000*(23 - 24)= $1,000 decrease
In 2009, because U.S. imports were $2,535 billion while exports were $2,116 billion:
A. imports exceeded exports by a sizeable $419 billion.
B. there was a huge influx of foreign capital into the U.S. economy.
C. government policy caused a lessening of foreign aid.
D. exports exceeded imports by a sizeable $419 billion.
Answers
Answer:
A. imports exceeded exports by a sizable $419 billion
Explanation:
Obviously imports had a greater value than exports. The difference in value is ...
$2535 -2116 = $419 . . . billion
This observation matches choice A.
Crane Company sells its product for $60 per unit. During 2019, it produced 48000 units and sold 40000 units (there was no beginning inventory). Costs per unit are: direct materials $15, direct labor $9, and variable overhead $3. Fixed costs are: $576000 manufacturing overhead, and $72000 selling and administrative expenses. Under absorption costing, what amount of fixed overhead is deferred to a future period?
Answers
Answer:
$96,000
Explanation:
The computation of the amount of fixed overhead is deferred to a future period is shown below:
= Unsold units × fixed overhead cost per unit
= 8,000 units × ($576,000 ÷ 48,000 units)
= 8,000 units × $12
= $96,000
The unsold units is
= Produced units - sold units
= 48,000 units - 40,000 units
= 8,000 units
By multiplying the unsold units with the fixed overhead cost per unit we can get the amount of fixed overhead deferred for a future period and the same is to be considered
Electra Company purchased $50,000 worth of office supplies on January 1. Electra expects to use 60 percent of the supplies in the first year and the remainder in the second year. How much should Electra show in its Supplies Expense account at the end of the first fiscal year (ending December 31st)
Answers
Answer:
$30,000
Explanation:
Data provided in the question
Purchase value of the office supplies = $50,000
Expected to use supplies in the first year = 60%
So expected to use supplies in the second year = 40%
Based on the above information, the supplies account balance at the end of the first fiscal year is
= Purchase value of the office supplies × Expected to use supplies in the first year
= $50,000 × 60%
= $30,000
We simply multiplied the purchased value with the expected supplies use in the first year so that the balance of the supplies for the first year could come
Cute Camel Woodcraft Company just reported earnings after tax (also called net income) of $8,000,000, and a current stock price of $25.75 per share. The company is forecasting an increase of 25% for its after-tax income next year, but it also expects it will have to issue 1,500,000 new shares of stock (raising its shares outstanding from 5,500,000 to 7,000,000) If Cute Camel's forecast turns out to be correct and its price-to-earnings (P/E) ratio does not change, what does the company's management expect its stock price to be one year from now? (Round any P/E ratio calculation to four decimal places).
A. $25.22 per share
B. $25.75 per share
C. $18.92 per share
D. $31.53 per share
One year later, Cute Camel's shares are trading at $49.60 per share, and the company reports the value of its total common equity as $35,308,000. Given this information, Cute Camel's market-to-book (M/B) ratio is ___________
Can a company's shares exhibit a negative P/E ratio?
A. No
B. Yes
Which of the following statements is true about market value ratios?
A. Companies with high research and development (R&D) expenses tend to have low P/E ratios
B. Companies with high research and development (R&D) expenses tend to have high P/E ratios.
Answers
The stock price one year from now will be A. $25.22 per share .
The market to book value after one year is 9.833.
A company's shares can exhibit a negative P/E ratio. This is true.
The true statement is that companies with high research and development (R&D) expenses tend to have high P/E ratios.
How to calculate the valueCurrent year price earning ratio = 25.75*5500000/8000000
17.7
current price earning = 17.70
next year earning = 8000000*(1+25%)
10000000
If PE ratio remains constant next year then share price next year is
10000000*17.70/7000000 = 25.22 per share
Market to book value after one year = (7000000*49.60)/35308000 = 9.833.
It should be noted that because of negative earing of the company negative PE ratio is possible. Hence PE ratio negative is possible
Lastly, company who spend high research and development expenses to have high P/E ratios
Learn more about stock on:
https://brainly.com/question/28539863
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Present Value Computations
Using the present value tables, solve the following.
(Click here to access the time value of money tables to use with this problem.)
Round your answers to two decimal places.
Required:
1. What is the present value on January 1, 2016, of $30,000 due on January 1, 2020, and discounted at 10% compounded annually?
$
2. What is the present value on January 1, 2016, of $40,000 due on January 1, 2020, and discounted at 11% compounded semiannually?
$
3. What is the present value on January 1, 2016, of $50,000 due on January 1, 2020, and discounted at 16% compounded quarterly?
$
Answers
Answer:
The present value on January 1, 2016, of $30,000 due on January 1, 2020, and discounted at 10% compounded annually is $ 20,490.40
The present value on January 1, 2016, of $40,000 due on January 1, 2020, and discounted at 11% compounded semiannually is $ 26,063.95
The present value on January 1, 2016, of $50,000 due on January 1, 2020, and discounted at 16% compounded quarterly is $ 26,695.41
Explanation:
The present value formula is given as PV=FV*(1+rs/t)^-nt
where FV is the future worth of the amount
rs is the stated interest
t is the number of compounding per year
n is the number of years of investment which 4 years in this case
PV of $30,000 compounded annually:
PV=$30,000*(1+10%/1)^-(1*4)=$20,490.40
PV of $40,000 compounded semiannually:
PV=$40,000*(1+11%/2)^-(2*4)=$ 26,063.95
PV of $50,000 compounded quarterly:
PV=$50,000*(1+16%/4)^-(4*4)=$26,695.41
Like a good economist, you calculated the opportunity cost of getting your college degree. Suppose that at your university, you will pay $10,000 each year for tuition, $2,500 each year for textbooks, and $10,000 per year for room and board. Before you left for college, your boss at your high-school job offered you a job paying $20,000 per year. Assume that if you decided not to go to college, your parents would not let you live at home. What is your opportunity cost for four years of college?
Answers
Answer:
The opportunity cost is $130,000 for the four year duration.
Explanation:
Here, it is clear that I will not go to the job, so going to university is the only option left. Now, the loss of the job income is also an opportunity cost with an amount $20,000 which will aggregated with the University specific costs.
University Specific cost for 4 Years = 4 * (Tuition Cost + Textbooks + Job Opportunity loss)
The room and board cost is common between college and the university so it must not be considered for the decision making.
By putting values, we have:
University Specific cost for 4 Years = 4 * ($10,000 + $2,500 + $20,000)
University Specific cost for 4 Years = $130,000 for the four years
The opportunity cost is $130,000 for the four year duration.
For better understanding of relevant costing (Opportunity cost analysis), consider the following question:
https://brainly.com/question/14423321
Presented below is information related to Marin Company. Cost Retail Beginning inventory $103,820 $278,000 Purchases 1,402,000 2,152,000 Markups 93,600 Markup cancellations 13,900 Markdowns 34,600 Markdown cancellations 5,000 Sales revenue 2,206,000 Compute the inventory by the conventional retail inventory method.
Answers
Answer:
The ending inventory for Marin comapny is $1664460
Explanation:
Solution
An Inventory is computed by using the conventional retail inventory method. which is statted belwo:
Inventory computed for Marin Company
Cost Retail
Beginning of Inventory $103,820 $278,000
Purchases 1,402,000 2,152,000
Total 1505820 243,000
Add: Net Markups
Markups 93,600
Markup cancellations -13,900
79700
Total 1505820 2509700
Deduct: Net Markdown
Markdown 34,600
Markdown cancellation -5,000
29,600
Sales price of goods 2480100
Sales revenue 2,206,000
The retail ending is 274,100
Thus,
The retail cost ratio is = 1505820 /2509700 = 60%
Hence, the cost of Ending inventory becomes = 274,100 * 60%
= $1664460.
Your boss stops by to see how the research is progressing. She's concerned about your research plan. "I don't think we are ready to run causal research on the effects of advertising. I think we should re-evaluate the descriptive research options." Which option should you choose now?Select an option from the choices below and click Submit.1- Research the attitudes that men under 35 have towards eSports.2- Research the attitudes that U.S. women and consumers over 35 have towards the eSports industry.
Answers
Answer: Research the attitudes that U.S. women and consumers over 35 have towards the eSports industry.
Explanation:
From the question, the boss is concerned about the research plan and says that he does not believe that we are ready to run causal research on the effects of advertising and further said we should re-evaluate the descriptive research options.
Based on the scenario above, I'll choose to research the attitudes that U.S. women and consumers over 35 have towards the eSports industry. By choosing this option, I'll have a large sample size to carry out the descriptive research.
It should also be noted that the descriptive method consist of qualitative natural survey and also the cross sectional research. By researching the attitude of women and consumers, this will give us the opportunity to utilize the cross sectional research. Therefore, the second option is the correct answer.