Wattan Company reports beginning inventory of 10 units at $60 each. Every week for four weeks it purchases an additional 10 units at respective costs of $61, $62, $65, and $70 per unit for weeks 1 through 4. Compute the cost of goods available for sale and the units available for sale for this four-week period. Assume that no sales occur during those four weeks.

Answers

Answer 1

Answer:

Activity Units    Units cost      Cost of Goods     Available

Beginning Inventory        10   $60.00   $600

1st week purchase           10   $61.00    610

2nd week purchase        10   $62.00   620

3rd week purchase         10   $65.00   650

4th week purchase         10   $70.00   700

Units available for sale 50

Cost of goods available for sale $3,180

Explanation:

Answer 2

We can compute the cost of goods available for sale and the units available for sale for this four-week period by assuming that no sales occur during those four weeks

Activity Units Unit Cost Cost of Goods Available

Beginning Inventory 10 60 600

1st Week purchase 10 61 610

2nd Week purchase 10 62 620

3rd Week purchase 10 65 650

4th Week purchase 10 70 700

Units available for sale 50    

Cost of goods available for sale  3180

Thus, in the above it is shown the computing of the cost of goods available for sale and the units available for sale for this four-week period by assuming that no sales occur during those four weeks.

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Related Questions

g A stock will issue a dividend of $20 one year from today. Dividends will shrink by 3% per year for the next two years after that, and then remain constant forever. Find the current price of one share of this stock, given an effective annual rate of 6%.

Answers

Answer:

Current price = $341.943

Explanation:

The Dividend Valuation Model is a technique used to value the worth of an asset. According to this model, the worth of an asset is the sum of the present values of its future cash flows discounted at the required rate of return.

PV dividend in year 1 = 20 × 1.03^(-1)= 19.41747573

PV of dividend in year 2 = 97%× 20 × 1,03^(-2)= 18.28636064

PV of dividend in year 3 = 97%× 97%×  20× 1.03^(-3) = 17.22113575

PV of dividend from year 4  and beyond

This will be done in two steps

PV (in year 3 terms

(97%× 97%×  20× 1.03^(-3))/0.06 =313.6333333

PV in year o terms

PV = A/r

A= 313.63, r = 6%

313.63× 1.03^(-3)= 287.0189291

Price of stock = 19.41 +18.28 +  17.221 +  17.221= 341.943

Current price = $341.943

The Sunland Acres Inn is trying to determine its break-even point during its off-peak season. The inn has 50 rooms that it rents at $80 a night. Operating costs are as follows:

Salaries $5,400 per month
Utilities $1,200 per month
Depreciation $1,100 per month
Maintenance $2,140 per month
Maid service $19 per room
Other costs $37 per room

Required:
a. Determine the inn's break-even point in number of rented rooms per month.
b. Determine the inn's break-even point in dollars.

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

The inn has 50 rooms that it rents at $80 a night.

Operating costs are as follows:

Salaries $5,400 per month

Utilities $1,200 per month

Depreciation $1,100 per month

Maintenance $2,140 per month

Maid service $19 per room

Other costs $37 per room

We won't take into account the depreciation expense because it is not a cash disbursement.

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

Fixed costs= 5,400 + 1,200 + 2,140= $8,740

Variable cost= 19 + 37= $56

Break-even point in units= 8,740 / (80 - 56)

Break-even point in units= 364 rented rooms

To calculate the break-even point in dollars, we need to use the following formula:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 8,740 / (24/80)

Break-even point (dollars)= $29,133

Effect of Omitting Adjustments For the year ending April 30, Mann Medical Services Co. mistakenly omitted adjusting entries for (1) $9,200 of supplies that were used, (2) unearned revenue of $12,000 that was earned, and (3) insurance of $2,500 that expired. Indicate the combined effect of the errors on (a) revenues, (b) expenses, and (c) net income for the year ended April 30. (a) Revenues understated $ (b) Expenses $ (c) Net income $

Answers

Answer:

(a) Revenues overstated $12,000

(b) Expenses understated  $11,700

(c) Net income overstated $300

Explanation:

First prepare the journal entries pertaining to the omitted adjusting entries as follows;

Entry 1

Supplies Expense $9,200 (debit)

Supplies $9,200 (credit)

Entry 2

Revenue $12,000 (debit)

Unearned Revenue $12,000 (credit)

Entry 3

Insurance Expense $2,500 (debit)

Prepaid Insurance $2,500 (credit)

Then consider the Effects on the named Accounts

Expenses.

Affected by Entry 1 and Entry 3

Expenses are understated by $11,700

Revenues.

Affected by Entry 2.

Revenues are overstated by $12,000

Net Income

Affected by Entries 1, 2, 3 also the net effect of the two items above.

Income is overstated by $300

What percent of the educated workforce in the world can be found outside of the US?
O 75%
O 25%
O 50%
15%

Answers

Answer:

A. 75%

Explanation:

A workforce is a term used to describe the number of able people working for government, establishments, institutions and private companies etc in a society. Thus, educated workforce implies the number of educated able people that have the ability to work with respect to their academic discipline.

US has a high number of workforce and compensating packages for them. But when compared to other countries, over 75% of educated workforce exists outside of the United States of America.

The following data apply to Elizabeth's Electrical Equipment: Value of operations $20,000 Short-term investments $1,000 Debt $6,000 Number of shares 300 The company plans on distributing $1,000 by repurchasing stock. What will the intrinsic per share stock price be immediately after the repurchase? Notes: With some combinations of variables, the residual policy may result in zero dividends and a zero payout ratio. These outcomes are noted in the topic [TOP] field if applicable.

Answers

Answer:

$50

Explanation:

Elizabeth's Electrical Equipment

Total Assets will be :

Value of operations of 20,000+ Short term investments of 1000

=$21,000

Debt = $6000

Hence:

Equity will be :

Assets - Debt

= $21,000-$6,000

Which will give us = $15,000

Number of shares which are outstanding

= 300

$15,000/300

=$50

Therefore the Intrinsic value per share will be $50 immediately after the repurchase has occured.

Two countries are trying to decide which product should have an increased production Both Canada and Costa Rica produce cottee and corn, but is easier for Canada to raise com than grow Coffee Costa Rica easily grows coffee, but has a more difficult time growing com. In comparison with Costa Rica, Canada has:_________.
a the camale to create richer lasting coffee than Costa Rica
b the opportunity to increase their coffee production to better compete with Costa Rka
c. a comparative advantage with com.
A Moving to another question will save this response

Answers

Answer:

. a comparative advantage with com.

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries.

If it is easier for Canada to produce Com, it means they have a comparative advantage in the production of com. Costa Rica has a comparative advantage in the production of coffee.

I hope my answer helps you

If the price of chocolate-covered peanuts decreases from $1.15 to $0.90, the quantity demanded does not change, and other things are unchanged, the absolute value of the price elasticity of demand, using the midpoint method, is:

Answers

Answer:

price-elasticity = 0

Explanation:

The formula for mid-point elasticity will be as follows:

[tex]\frac{q_1-q_2}{\frac{q_1+q_2}{2}} \div\frac{p_1-p_2}{\frac{p_1+p_2}{2}}[/tex]

Now, as quantity did not change we get:

q1 = q2

thus q1 + q2 = 2q1

and q1 - q2 = 0

[tex]\frac{0}{\frac{2q_1}{2}} \div\frac{1.15-0.90}{\frac{1.15+0.90}{2}}[/tex]

As we are getting a zero the end result will be zero which makes complete sense as there was no change in quantity the demand is completely inelastic.

A manufacturing firm is considering two locations for a plant to produce a new product. The two locations have fixed and variable costs as follows: 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 Select one: a. 40000 b. 20000 c. 460000 d. 60000

Answers

Answer:

Cost Advantage of different locations:

b. $20,000

Phoenix certainly had a cost advantage over Atlanta and based on this factor, it should be chosen for the new plant instead of any other city.

Explanation:

a) Total Costs of different locations:

                        Atlanta       Phoenix

Fixed Cost      $80,000     $140,000

Variable cost  400,000      320,000

Total Costs  $480,000    $460,000

b) Variable costs

                                   Atlanta       Phoenix

Annual Demand        20,000        20,000

Variable cost/unit        $20              $16

Total variable cost  $400,000  $320,000

c) Cost Advantage is the competitive edge which location (or company) can have over another through reduced production or marketing costs or both so that it can offer cheaper prices or use excess profits to bolster promotion or distribution.   In this case, the comparison is on the total cost, which is made of variable and fixed costs.

Torino Company has 1,300 shares of $50 par value, 6.0% cumulative and nonparticipating preferred stock and 13,000 shares of $10 par value common stock outstanding. The company paid total cash dividends of $3,500 in its first year of operation. The cash dividend that must be paid to preferred stockholders in the second year before any dividend is paid to common stockholders is:

Answers

Answer:

The answer is $4,300

Explanation:

Solution

We recall that:

Torino company has 1,200 shares of = $50 per value

The cumulative and nonparticipating preferred stock of = 6.0%

They also have 13,00 shares

Common stock outstanding = $10 per value

Total dividends = $3,500

Now,

The first year amount of dividend that was paid in the first year of working is  stated as follows:

6% * 1300 * 50 = $3900

The paid dividend = $3,500

The amount amount payable during the second year to the common stakeholders is

=$3900 + 400 = $4,300

Note: preferred shares are cumulative, for this the amount paid to the stakeholders was $4,300

Federal Semiconductors issued 11% bonds, dated January 1, with a face amount of $800 million on January 1, 2021. The bonds sold for $739,814,813 and mature on December 31, 2040 (20 years). For bonds of similar risk and maturity the market yield was 12%. Interest is paid semiannually on June 30 and December 31. Federal determines interest at the effective rate. Federal elected the option to report these bonds at their fair value. On December 31, 2021, the fair value of the bonds was $730 million as determined by their market value in the over-the-counter market. Assume the fair value of the bonds on December 31, 2022 had risen to $736 million.
Required:
1. Prepare the journal entry to record their issuance by Federal on January 1, 2021.
2. Prepare the journal entry to record interest on June 30, 2021 (at the effective rate).
3. Prepare the journal entry to record interest on December 31, 2021 (at the effective rate).
4. At what amount will Federal report the bonds among its liabilities in the December 31, 2021, balance sheet?

Answers

Answer:

1. Prepare the journal entry to record their issuance by Federal on January 1, 2021.

Date                Account title                                       Debit ($)          Credit ($)

Jan 1, 2021      Cash                                                 739,814,813

                        Discount on bonds payable            60,185,187

                        Bonds payable                                                      800,000,000

                        (To record issue of bonds)

2. Prepare the journal entry to record interest on June 30, 2021 (at the effective rate).

Date                   Account title                                     Debit ($)          Credit ($)

June 30, 2021   Interest expense                            44,388,889  

                          Discount on bonds payable                                 388,889  

                            Cash                                                                     44,000,000

                        (To record payment of semi-annual interest)

3. Prepare the journal entry to record interest on December 31, 2021 (at the effective rate).

Date                   Account title                                     Debit ($)          Credit ($)

Dec 31, 2021   Interest expense                            44,412,222  

                          Discount on bonds payable                                 412,222

                            Cash                                                                     44,000,000

                        (To record payment of semi-annual interest)

4. The amount that Federal will report for the bonds among its liabilities in the December 31, 2021, balance sheet is $740,615,924

Explanation:

1. Discount on bonds payable = $800 million - $739,814,813 = $60,185,187

2. Cash paid = Face value × stated interest × interest time period

= $800,000,000 × 11% × 0.5

= $44,000,000

Interest expense = price of bonds × market interest rate × interest time period

= $739,814,813 × 12% × 0.5

= $44,388,889

Discount on bonds payable = $44,388,889 - $44,000,000 = $388,889

3. Cash paid = Face value × stated interest × interest time period

= $800,000,000 × 11% × 0.5

= $44,000,000

Interest expense = price of bonds × market interest rate × interest time period

= ($739,814,813 + $388,889) × 12% × 0.5

= $ 44,412,222

Discount on bonds payable = $44,412,222 - $44,000,000 = $412,222

4.  Long term liabilities = Bonds payable + Discount on bonds payable June 30 + Discount on bonds payable December 31

=  $739,814,813 + $388,889 + $412,222

= $740,615,924

On January​ 1, 2018​, White Corporation signed a $ 120,000​, four​-year, 2​% note. The loan required White to make payments annually on December 31 of $ 30,000 principal plus interest.

Required:
a. Journalize the issuance of the note on January 1, 2018
b. Journalize the first payment on December 31, 2018

Answers

Answer:

Dr cash                 $120,000

Cr Notes payable                         $120,000

Dr interest expense    $2,400

Dr notes payable       $30,000

Cr cash                                             $32,400

Explanation:

The issuance of the notes payable of $120,000 means that White Corporation's cash inflow has increased by $120,000 while its corresponding loan obligation has also gone up by the same amount.

On 31 December 2018,White Corporation would need to repay $30,000 principal plus interest of $2,400 ($120,000*2%).The interest payment is debited to interest expense while $30,000 repayment is debited to notes payable and cash is credited with the total of $32,400

Pharoah Company accounting records show the following at the year ending on December 31, 2022.
Purchase Discounts $ 11900
Freight-in 15600
Purchases 724020
Beginning Inventory 42000
Ending Inventory 50600
Purchase Returns and Allowances 10700
Using the periodic system, the cost of goods sold is:_______.

Answers

Answer:

$ 708,420.00  

Explanation:

The formula for cost of goods sold is given below

Cost of goods sold=beginning inventory +purchases +freight-purchase discounts-purchases allowance and returns-ending inventory

Cost of goods sold=$42,000+$724,020+$15,600-$11,900-$10,700-$50,600=$ 708,420.00  

The purchases discount and purchase returns reduce the value of purchases made hence deducted.

The ending inventory is left in stock as a result is also deducted

The 6.3 percent, semi-annual coupon bonds of PE Engineers mature in 13 years and have a price quote of 99.2. These bonds have a current yield of ________ percent, a yield to maturity of ________ percent, and an effective annual yield of ________ percent.

Answers

Answer:

Current yield is 6.35%

YTM is 6.40%

Effective annual yield is 6.50%

Explanation:

Current yield =coupon amount/price=6.3%*$1000/$1000*99.2%=6.35%

Yield to maturity can be computed using excel rate formula as below:

=rate(nper,pmt,-pv,fv)

nper is the number of coupon payments of the bond which is 13*2

pmt is the annual coupon=6.3%*$1000=$63/2=$31.5

pv is the current price=99.2%*$1000=$992

fv is the face value of $1000

=rate(13*2,31.5,-992,1000)=3.20%

Semiannual yield =3.20%

annual yield=3.20%*2=6.40%

effective annual yield=(1+YTM/2)^2-1

effective annual yield=(1+6.40%/2)^2-1=6.50%

Calculate the times interest earned ratio using the financial statement data shown below. Current liabilities $185 Income before interest and taxes $170 10% Bonds, long-term 360 Interest expense 36 Total liabilities 545 Income before tax 134 Stockholders' equity Income tax 29 Common stock 222 Net income $105 Retained earnings 289 Total stockholders' equity 511 Total liabilities and equity $1,056HHF's times interest earned ratio is:______.a. 10.00.b. 3.14.c. 1.54.d. 2.14.Current liabilities $180 Income before interest and taxes $11810% Bonds, long-term 360 Interest expense 36Total liabilities 540 Income before tax 82Shareholders' equity Income tax 20Capital stock 201 Net income $62Retained earnings 283Total shareholders'equity 484Total liabilities and equity $1,024HHF's debt to equity ratio is:________.a. 0.74.b. 0.56.c. 1.12.d. 1.90.

Answers

Answer:

1. Times interest earned ratio is 4.72

2. Debt to equity ratio is 1.12. Option C

Explanation:

Current liabilities = $185

Income before interest and taxes = $170

10% Bonds, long-term = $360

Interest expense = $36

Total liabilities = $545

Income before tax = $134

Stockholders' equity Income tax = $29

Common stock = $222

Net income = $105

Retained earnings = $289

Total stockholders' equity = $511

Total liabilities and equity = $1,056

1. Times interest earned ratio = Earnings before interest and taxes/Interest expenses

= $170 ÷ $36

= 4.72

Current liabilities = $180

Income before interest and taxes = $118

10% Bonds, long-term = $360

Interest expense = $36

Total liabilities = $540

Income before tax = $82

Shareholders' equity Income tax = $20

Capital stock 201 Net income = $62

Retained earnings = $283

Total shareholders'equity = $484

Total liabilities and equity = $1,024

2. Debt to equity ratio = Total debt ÷ Total equity

= 540 ÷ 484

= 1.12

17
A property company received cash for property rentals totalling $738,400 during the
year to 31 December 2009. Figures for rent received in advance and rent in arrears at
the beginning and end of the year were as follows.
31 December 2008
31 December 2009
Rent received in advance
125,300
77,700
Rent in arrears
(all subsequently paid, no bad debts)
39,600
41,100
What amount should appear in the company's income statement for the year ended 31
December 2009 for rental income?​

Answers

Answer:

$764,400

Explanation:

Payment in advanced are prepayment which are treated as current liability until the service is delivered and sales income are credited while the .prepayment account are debited.

Accrual payment are payment for service already delivered which are current liability (receivables)

Rental income received  =                       $738,000

Rent in advance as at 31/12/2008              102,600

(prepayment for 2009)

Rent in advance as at 31/12/2009                (77,700)

Prepayment for 2010

Rent in arrears as at 31/12/2008                   (39,600)

Accrued payment for 2008

Rent in arrears as at 31/12/2009                      41,100

Recognized income                                      764,400

On January 2, 2015, Vaughn Corporation issued $1,650,000 of 10% bonds at 96 due December 31, 2024. Interest on the bonds is payable annually each December 31. The discount on the bonds is also being amortized on a straight-line basis over the 10 years. (Straight-line is not materially different in effect from the preferable "interest method".) The bonds are callable at 102 (i.e., at 102% of face amount), and on January 2, 2017, Vaughn called $1,140,000 face amount of the bonds and redeemed them. Ignoring income taxes.

Required:
Compute the amount of loss, if any, to be recognized by Vaughn as a result of retiring the $1,140,000 of bonds in 2017

Answers

Answer:

$59,280

Explanation:

This can be calculated as follows:

Bond issue price = $1,650,000 * 0.96 = $1,584,000

Discount on bonds payable = $1,650,000 - $1,584,000 = $66,000

Annual amortization of discount on bonds payable = $66,000 / 10 = 6,600

Bond carrying value on January 2, 2017 = Bond issue price + (Annual discount on bonds payable * Number of years) = $1,584,000 + ($6,600 * 2) =  $1,597,200  

Value of $1,140,000 of bonds = ($1,597,200 / $1,650,000) * $1,140,000 = $1,103,520

Loss on recognized on redemption = ($1,140,000 * 102%) - $1,103,520 = $59,280

"A long time customer has purchased securities in a margin account and is experiencing a temporary cash shortfall. The customer tells the registered representative that he cannot pay on settlement; and the registered representative offers to lend the customer the necessary funds. This action is:"

Answers

Answer: Prohibited.

Explanation:

The Financial Industry Regulatory Authority (FINRA) frowns upon the action described above.

FINRA strongly prohibits the personal borrowing of money by the representative to a customer or vice versa. The only time this prohibition can be waved is if the parties are married or family.

Seeing as there was no mention of the parties being family, this action is prohibited.

You’ve borrowed $23,072 on margin to buy shares in Ixnay, which is now selling at $41.2 per share. You invest 1,120 shares. Your account starts at the initial margin requirement of 50%. The maintenance margin is 35%. Two days later, the stock price changes to $41 per share.
a) Will you receive a margin call?b) How low can the price of Disney shares fall before you receive a margin call?

Answers

Answer:

(a) Since the percentage margin is more than maintenance margin, there would be no call

(b) A margin call would be received when the price is $15.26

Explanation:

(a) Total investment = $23,072 × [tex]\frac{100}{50}[/tex] = $46,144

Total shares = Total investment ÷ share price

= $46,144 ÷ $41.2 = 1,120

Value of share in market = new price × number of shares

= $41 × 1,120

= $45,920

Value of equity = Value of share in the market - borrowed cash

= $45,920 - $23,072

= $22,848

Percentage margin = Value of equity ÷ Value of shares

= ($22,848 ÷ $45,920) × 100%

= 49.76%

(b) Total number of shares = 1,120

Assumed value of shares = $1,120X

Borrowed fund = $23,072

Value of equity = $1,120X - $23,072

Margin = Value of equity ÷ Value of shares

0.35 = ($1,120X - $23,072) ÷ $1,120X

392X = $1,120X - $23,072

1512X = $23,072

X = $15.26

Brief Exercise 3-5 On July 1, 2017, Major Co. pays $27,600 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. For Major Co., journalize and post the entry on July 1 and the annual adjusting entry on December 31. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Answers

Answer: Please see below

Explanation:

Journal to record the Adjusting entry for Major Co payment  to Cruz Insurance

Date      Account                                Debit                      Credit

July 1    Prepaid insurance            $27, 600

                    Cash                                                             $27,600

Date                    Account                    Debit                      Credit

Dec 31      Insurance expense           $4,600

                  Prepaid insurance                                            $4,600

Working : July - december= 6months, insurance contract= 3 years(3x12months =36months )

Insurance expense = $27,600 x  

(6/36)= $4,600

The phone bill for a corporation consists of both fixed and variable costs. Refer to the fourminusmonth data below and apply the highminuslow method to answer the question. Minutes Total Bill January 470 $ 4 comma 500 February 200 $ 2 comma 695 March 180 $ 2 comma 650 April 320 $ 2 comma 830 If the company uses 390 minutes in​ May, how much will the total bill​ be? (Round any intermediate calculations to the nearest cent and your final answer to the nearest​ dollar.)

Answers

Answer:

Total cost= $3,989.65

Explanation:

Giving the following information:

Minutes Total Bill

January 470 $4,500

February 200 $2,695

March 180 $2,650

April 320 $2,830

First, we need to calculate the unitary variable cost and fixed costs:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (4,500 - 2,650) / (470 - 180)

Variable cost per unit= $6.37931

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 4,500 - (6.37931*470)

Fixed costs= $1,501.72

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 2,650 - (6.37931*180)

Fixed costs= $1,501.72

If the company uses 390 minutes in​ May:

Total cost= 1,501.72 + 6.37931*390

Total cost= $3,989.65

In calculating the probability of being alive at certain times in the future, the expert would most likely utilize the National Vital Statistics Report detailing the "number of people alive" out of 100,000 people for various demographic characteristics. True/False

Answers

Answer: True

Explanation:

The National Vital Statistics System is an inter-governmental system of sharing of data on vital statistics of the United States population. The National Vital Statistics System consist of the

Vital Statistics of the United States and the National Vital Statistics Report.

If an expert wants to calculate the probability of being alive at certain times in the future, such expert would most likely utilize the National Vital Statistics Report which details the "number of people alive" out of 100,000 people for various demographic characteristics. This is because the reports are accurate and can be easily accessible online.

The Eastern District of Adelson Inc. is organized as a cost center. The budget for the Eastern District of Adelson Inc. for the month ended December 31 is as follows:

Sales salaries $819,840
System administration salaries 448,152.00
Customer service salaries 152,600.00
Billing salaries 98,760.00
Maintenance 271,104.00
Depreciation of plant and equipment 92,232.00
Insurance and property taxes 41,280.00
Total $1,923,968.00

During December, the costs incurred in the Eastern District were as follows:

Sales salaries $818,880.00
System administration salaries 447,720.00
Customer service salaries 183,120.00
Billing salaries 98,100.00
Maintenance 273,000.00
Depreciation of plant and equipment 92,232.00
Insurance and property taxes 41,400.00
Total $1,954,452.00

Required:
Prepare a budget performance report for the manager of the Eastern District of Adelson for the month of December.

Answers

Answer:

                         Eastern District: Adelson Inc.

                         Budget Performance Report

                   For the Year Ended December 31, XX

                                             Actual               Static             Variance

                                             results              budget                          

Sales salaries                       $818,880       $819,840              -$960

System adm. salaries          $447,720       $448,152               -$432

Customer service salaries   $183,120       $152,600          $30,520

Billing salaries                        $98,100        $98,760               -$660

Maintenance                       $273,000         $271,104             $1,896

Depreciation of P & E           $92,232         $92,232                    $0

Insurance and prop. taxes    $41,400          $41,280                $120

Total                                  $1,954,452       $1,923,968       $30,484  

Explanation:

A budget performance report shows how the actual costs and/or revenues perform according to the planned budget. A negative sign on the variance column shows a favorable variance (lower costs or higher revenues), while a positive sign shows an unfavorable variance (higher costs or lower revenues).

Cash flows of two mutually exclusive projects are as follows. Project A costs $80,000 initially and will have a $15,000 salvage value after 3 years. The operating cost with this method will be $30,000 per year. Project B has initial cost of $120,000, an operating cost of $8,000 per year, and a $40,000 salvage value after its 3-year life. Assume the interest rate is 10% per year. Which of the following statements is true?A. Two projects have different life cycleB. Project A should be selected.C. The present worth of project A is -$143,252.17.D. The present worth of project B is -$109,842.22.

Answers

Answer:

C. The present worth of project A is -$143,252.17

Explanation:

Present worth can be calculated using a financial calculator

For method A ,

Cash flow in year 0 = $80,000

Cash flow in year 1 and 2 = $30,000

Cash flow in year 3 = $30,000 - $15,000 = $15,000

I = 10%

Present worth= $ 143,335.84

For method B,

Cash flow in year 0 = $120,000

Cash flow in year 1 and 2 = $8, 000

Cash flow in year 3 = $8,000 - $40,000 = $-32,000

I = 10%

Present worth = $130,157.78

Method b would is chosen because it worth less.

To find the present worth using a financial calacutor:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.

3. Press compute

Jennifer Burroughs is thinking about starting a firm in the upscale women's fashion industry. To get a full appreciation of the competitive nature of the industry, and how she might position her products, Jennifer has spent considerable time looking at industry-related publications, Hoover's Online, and ABI-Inform, which is a database that provides access to articles covering a wide-variety of business and industry related issues. Jennifer is conducting ________ research.A) primaryB) secondaryC) actionD) temporaryE) purposeful

Answers

Answer:

Secondary

Explanation:

Secondary research is the process of summarising and collating existing research. Original or primary research involves collection of data and analysis to make a conclusion on the subject of study.

Secondary research uses information from primary research.

In this instance Jennifer looked at industry-related publications, Hoover's Online, and ABI-Inform, which is a database that provides access to articles covering a wide-variety of business and industry related issues.

The data she is using are from primary research sources.

Write a linear cost function equation for each of the following conditions. Use y for estimated costs and X for activity of the cost driver.

a. Direct manufacturing labor is $10 per hour.

b. Direct materials cost $15.60 per cubic yard.

c. Utilities have a minimum charge of $5,000, plus a charge of $0.30 per kilowatt-hour.

d. Machine operating costs include $300,000 of machine depreciation per year, plus $100 of utility costs for each day the machinery is in operation.

Answers

Answer:

a)

y = $10x

b)

y = $15.6x

c)

y = $5000 + $0.3x

d)

y = $300000 + $100x

Explanation:

y for estimated costs and X for activity of the cost driver. Linear cost function is given as:

y = a + bx.

Where y is the cost being predicted, x is the cost driver, a is the fixed cost (intercept) and b is the variable cost per unit (slope)

a) Since Direct manufacturing labor is $10 per hour,  variable cost (b) =  Direct manufacturing labor = $10

Therefore:

y = $10x

b) variable cost (b) =  Direct materials cost = $15.60 per cubic yard.

Therefore:

y = $15.6x

c) Fixed cost (a) = utilities = $5000 and  variable cost (b) =  charges = $0.3 per kilowatt-hour. Therefore:

y = $5000 + $0.3x

d) Fixed cost (a) = Machine operating costs = $300000 and  variable cost (b) =  utility costs = $100 per day. Therefore:

y = $300000 + $100x

6. The term strategy can be defined as: a. A company’s market share, which allows it to outperform competition. b. A coordinated deployment of a firm’s resources to achieve competitive advantage. c. The sum total of a company’s financial, organizational, physical and human resources. d. All of the above.

Answers

Answer:

A coordinated deployment of a firm’s resources to achieve competitive advantage.

Explanation:

The term strategy can be defined as a coordinated deployment of a firm’s resources to achieve competitive advantage. It is a long-term plan of action that is focused on using a firm's available resources to achieve set objectives and goals, which includes dominating the market, meeting customer's demands, expanding the business, etc.

The executive management team ensures that their business strategy is in tandem with the aim, objectives vision and mission. A good business strategy is a continuous process that should function as a roadmap or guide to achieve competitive advantage, sustained profitability, growth and development of an organization.

A business strategy can be classified into various categories, such as product strategy, marketing strategy, growth strategy etc.

Answer:

The correct answer is:

A coordinated deployment of a firm’s resources to achieve competitive advantage. (b)

Explanation:

The goal of every business is to maximize profit, hence, business strategy is paramount in achieving this, and it is a combination of all the decisions taken, and actions implemented to achieve business goals and to gain a competitive advantage in the market. From this definition, it is therefore noted that business strategies are effectively drawn up at the beginning of the business year, because it is like a roadmap for the business, and implemented throughout the period, although, it can also change depending on the condition of the business environment. Note also that business strategy is different from the business plan, while business plans sets the goals of the business, business strategy states how to achieve these goals.

44,000 shares of common stock outstanding at a market price of $32 a share. The common stock will pay a $1.50 annual dividend and has a dividend growth rate of 3.5 percent. There are 7,500 shares of 9% preferred stock outstanding at a market price of $92 a share. The outstanding bonds mature in 11 years, have a total face value of $825,000, a coupon rate of 6.5 percent, a face value per bond of $1,000, and a market price of $989 each. The tax rate is 35 percent. What is the weight of equity in to be use to calculate the firm's WACC?

Answers

Answer:

The weight of equity in to be use to calculate the firm's WACC is 0.48 or 48%

Explanation:

The weight of equity to be used in firm's WACC computation is market value of equity divided by the sum of market value of equity ,preferred stock and bonds.

Market value of equity=44,000*$32                   =$1,408,000.00  

Market value of preferred stock=7,500*$92      =$690,000

Market value of bonds=$825,000*$989/$1000=$815,925.00  

Sum of market values                                           =$ 2,913,925.00  

Weight of equity=market value of equity/ Sum of market values=$1,408,000.00/$2,913,925.00= 0.48 =48%

A lot of research has demonstrated that there is a relationship between the of employees and that of the customer

Answers

Answer:

Satisfaction

Explanation:

A satisfaction is a thing. We just take an example :- When a customer purchase a product from the company he or she investing their money in order to fulfill their needs and wants. In return the customer wants the product is according to their expectations. In the case when the customer is satisfied, the chances of repurchasing of the product is high.

Therefore, as per the current situation there is always a relationship of satisfaction between the customer and the employees of the company.

Corn is an input in the production of tortillas. If you don't know anything about the demand curve, which of the following can you say for certain will happen in the market for tortillas if there is an increase in the price of corn ?

a. overall supply will decrease
b. overall supply will increase
c. quantity supplied will decrease
d. quantity supplied will increase

Answers

Answer:

3.14

Explanation:

The expected average rate of return for a proposed investment of $800,000 in a fixed asset with a useful life of four years, straight-line depreciation, no residual value, and an expected total net income of $360,000 for the four years is

Answers

Answer:

22.5%

Explanation:

For computation of return on investment first we need to find out the average investment and average income per year which is shown below:-

Average investment = Proposed investment ÷ Average

= $800,000 ÷ 2

= $400,000

Now, the Average income per year = Expected total net income ÷ Number of year

= $360,000 ÷ 4

= $90,000

Return on investment = Average income per year ÷ Average investment

= $90,000 ÷ $400,000

= 0.225

or

= 22.5%

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