The cost price is $20.
The selling price is $24.
What is the cost price and selling price?When the price of an item is marked up, it means that the price of the item has been increased.
Cost price = dollar mark up / percent dollar mark up
4/0.2 = $29
Selling price = (1.20 x 20) = $24
To learn more about percentages, please check: https://brainly.com/question/25764815
#SPJ1
Prepare the necessary general journal entries for the month of October for Crane Retail for each situation given below. Crane uses a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.)
Oct. 5 Paid cash of $10,332 for operating expenses that were incurred and properly recorded in the previous period.
9 Purchased merchandise for $18,000 on account. Credit terms: 3/10, n/30.
12 Paid a freight bill of $90 for merchandise purchased on October 9.
17 Paid for merchandise purchased on October 9. The company takes all discounts to which it is entitled.
20 Sold merchandise for $6,560 to Rattles Distribution on account. The cost of the merchandise sold was $2,624. Credit terms: 2/10, n/30.
26 Issued a credit memo to Rattles Distribution for $246 for merchandise returned from the sale on October 20. The cost of the merchandise returned was $148.
The necessary journal entries for October month are attached below in the image :
What do you mean by journal entries?All company transactions are documented in journal entries. Generally speaking, a transaction is any financial activity that has an effect on a business.
All the necessary journal entries are attached below:
Learn more about journal entries:
https://brainly.com/question/13483463
#SPJ1
What are the main attractions and limitations of the comparator approach in valuation?
The main attractions of the comparator approach in valuation is the ability to compare prices of commodity and the limitation is lack of access to financial details of the company close by.
What is comparator approach in valuation?The approach is used to compare sales of similar goods in a particular location.
The analysis is done for goods that are sold within a period of time that is not too far from each other
The main attractions of comparator approach in valuation?It is useful in comparing prices and monitoring trends of goods sold.It uses a company financial information and it can be used to understudy a competitor.The main limitations of comparator approach in valuation?It requires financial information for other company which may not be easily accessible.Learn more on comparator approach below
https://brainly.com/question/24625436
#SPJ1
1. a) List the three tools of monetary policy. No need to explain.
b) Explain clearly how each tool listed is used to fight inflation.
Answer:
the fad has traditional use 3 tools to conduct monetary policy reserve requirements the discount rate and open market operation
Can you have 2 jobs like .. can you work 1 full-time and 1 part-time at the same time?
Answer:
Yes
Explanation:
my answer has to be 20 characters long lol. but yes you can
Bill wants to attend a college with a current tuition of $10,000 a year. He will graduate from high school in five years. Roughly how much will Bill need to save for one-year's tuition to account for an
annual rate of inflation of 3%?
$638.30
O $667.50
O $656.50
O $633.30
Bill need to save $11,592 for one-year's tuition to account for an annual rate of inflation of 3%.
The option is not listed above.
To compute for future Value the formula is given below;FV = Present value(PV) × (1 + rate of interest)^time period
pv= $10,000
rate of interest= 3% = 3/100 = 0.03
time = 5years
FV= $10000× (1+0.03) ^5
FV= 10000× 1.1592
FV= $11,592.7
Therefore, Bill need to save $11,592 for one-year's tuition to account for an
annual rate of inflation of 3%.
Learn more on future value below
https://brainly.com/question/24703884
#SPJ1
Accumulated Depreciation: The company has only one fixed plant asset (equipment) that it purchased at the start of this year. That asset had cost $48,000, had an estimated life of seven years, and is expected to be valued at $8,800 at the end of the seven years. The company uses straight line depreciation method to calculate its depreciation.
Step 1: Determine what the current account balance equals.
Step 2: Determine what the current account balance should equal.
Step 3: Record the December 31 adjusting entry to get from step 1 to step 2
Based on the depreciation of the equipment, the current balance would equal $0 and but it should equal $5,600.
The adjusting entry would be:
Date Account title Debit Credit
December 31 Depreciation expense $5,600
Accumulated depreciation $5,600
How is depreciation recorded?The current account balance would be $0 because depreciation has not yet been adjusted for.
The depreciation amount would be:
= (48,000 - 8,800) / 7
= $5,600
This amount should be credited to the Accumulated depreciation account, but debited to the Depreciation expense account as expenses usually are.
Find out more on accumulated depreciation at https://brainly.com/question/1287985.
#SPJ1
a person has 100$ to spend on two goods x and y whose respective price are 3$ and 5$. what happen to the original budget line if the budget falls by 25%?
Answer:
If the budget falls by 25%, then the new budget line would be:
x: 3*0.75 = 2.25
y: 5*0.75 = 3.75
Explanation:
Windsor, Inc. uses a periodic inventory system. Details for the inventory account for the month of January 2022 are as follows: Units Per unit price Total Balance, 1/1/2022 260 $4.00 $1040 Purchase, 1/15/2022 130 ..4.60 598 Purchase, 1/28/2022 130 ..4.70 611 An end of the month (1/31/2022) inventory showed that 210 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month? $1890 $1270 $1520 $2790
Based on the cost of the inventory to Windsor Inc, and the FIFO method, the gross profit for the month is C. $1,520
What is Windsor's gross profit?FIFO means that the earlier goods are sold first.
210 units were left on hand which means that none of the Purchase on the 28th of January was sold.
The 15th Janaury purchase sold:
= 130 - (210 - 130)
= 50 units
The sales revenue is therefore:
= (260 + 50) x 9
= $2,790
The cost is:
= (260 x 4) + (50 x 4.60)
= $1,270
Gross profit is:
= 2,790 - 1,270
= $1,520
Find out more on FIFO at https://brainly.com/question/24137318.
#SPJ1
Typically, life insurance policies are incontestable after a specific amount of time, usually one or two years. Following this time period, insurance companies cannot contest the validity of the policy, unless premiums were not paid. Does this encourage people to hide facts from insurance companies during the two year waiting period? if so, is this ethical?
Evaluate the importance of doha development round?
The Doha development round is important to reform the national trading system.
What is Doha development round?The Doha Round of negotiations focuses on industrial and non-tariff barriers, agriculture, services, and easing trade rules.
In this case, the Doha development round is important to reform the national trading system.
It is aimed at lowering global trade barriers and is the first agreement reached through the WTO that is approved by all its members.
It introduced lower trade barriers and a revision of the trade rules.
Learn more about Doha development on:
https://brainly.com/question/17183363
#SPJ1
Butterfly Corp. manufactures products M1 and M2 from a joint process, which also yields a by-product, B1. Butterfly accounts for the revenues from its by-product sales as other income. Additional information follows:
M1 M2 B1 Total
Units produced 25,400 13,700 10,000 49,100
Allocated joint costs ? ? ? $ 375,000
Sales value at split-off $ 402,000 $ 268,000 $ 91,000 $ 761,000
Required:
Assuming that joint product costs are allocated using the net realizable value at split-off approach, what was the joint cost allocated to product M1? (Do not round intermediate calculations.)
The joint cost allocated to product M1 using the net realizable value method is $198,095.
What is the joint cost?Joint costs refer to the common production costs (direct materials, direct labor, and overheads) incurred to produce two or more products during the same process.
Based on this, the different products have a common costs that should be allocated based on some criteria.
Data and Calculations:M1 M2 B1 Total
Units produced 25,400 13,700 10,000 49,100
Allocated joint costs ? ? ? $ 375,000
Sales value at split-off $ 402,000 $ 268,000 $ 91,000 $ 761,000
Joint cost of M1 using the net realizable value = $198,095 ($402,000/$761,000 x $375,000)
Thus, the joint cost allocated to product M1 using the net realizable value is $198,095.
Learn more about joint costs at https://brainly.com/question/25408525
#SPJ1
Which of the following is not included in the heading of a cover letter?
a.
Applicant’s contact information
b.
Date
c.
Employers contact information
d.
Salutation
Answer:
d. Salutation
Explanation:
A salutation is not typically included in the heading of a cover letter. The heading of a cover letter typically includes the applicant's contact information, the date, and the employer's contact information.
Answer:
C
Explanation:
FIFO Perpetual Inventory
The beginning inventory, at Dunne Co. and data on purchases and sales for a three-month period ending June 30 are as follows:
Number
of Units
Date
1
Apr. 3
8
11
30
May 8
10
19
28
June 5
16
21
28
Required:
Transaction
Inventory
Purchase
Sale
Sale
Purchase
Sale
Sale
Purchase
Sale
Sale
Purchase
Sale
Record the inventon purch cor
66
132
88
55
110
66
33
110
66
88
198
99
Per Unit
$225
270
750
750
300
750
750
330
790
790
360
790
Total
$14,850
35,640
66,000
41,250
33,000
49,500
24,750
36,300
52,140
69,520
71,280
78,210
1. The total sales and cost of goods sold for the period are $381,370 and $147,510, respectively.
2. The gross profit from sales for the period is $233,860.
3. The ending inventory cost as of June 30 is $43,560.
How are the amounts determined using the FIFO method?The total sales can be computed by summing the sales units and dollars.
The cost of goods sold is the difference between the cost of goods available for sale and the ending inventory.
The gross profit is the difference between the sales revenue and the cost of goods sold.
The ending inventory is determined as the product of units in the ending inventory multiplied by the purchase cost per unit.
Data and Calculations:Date Transaction Number of Units Per Unit Total
Apr. 3 Inventory 66 $225 $14,850
8 Purchase 132 270 35,640
11 Sale 88 750 66,000
30 Sale 55 750 41,250
May 8 Purchase 110 300 33,000
10 Sale 66 750 49,500
19 Sale 33 750 24,750
28 Purchase 110 330 36,300
June 5 Sale 66 790 52,140
16 Sale 88 790 69,520
21 Purchase 198 360 71,280
28 Sale 99 790 78,210
1. Determination of the total sales and the total cost of goods sold for the period.
Total Sales:Apr. 11 Sale 88 750 66,000
30 Sale 55 750 41,250
May 10 Sale 66 750 49,500
19 Sale 33 750 24,750
June 5 Sale 66 790 52,140
16 Sale 88 790 69,520
28 Sale 99 790 78,210
Total sales 495 $381,370
Cost of sales:Cost of Goods Sold = Cost of goods available for sale minus ending inventory
= $147,510 ($191,070 - $43,560)
2. Determination of the gross profit from sales for the period.
Gross profit = $233,860 ($381,370 - $147,510)
3. Determination of the ending inventory cost as of June 30.
Ending inventory = $43,560 (121 x $360)
Apr. 3 Inventory 66 $225 $14,850
8 Purchase 132 270 35,640
May 8 Purchase 110 300 33,000
28 Purchase 110 330 36,300
21 Purchase 198 360 71,280
Goods available for sale 616 $191,070
Ending inventory 121 (616 - 495)
Learn more about the FIFO method at https://brainly.com/question/27952133
#SPJ1
When making keep or replace decisions, management should consider the: (Check all that apply.)
sale of the existing equipment
variable manufacturing cost of the new equipment
original cost of the existing equipment
variable manufacturing cost of the existing equipment
book value of the existing equipment
When making keep or replace decisions, management should consider the:
A. sale of the existing equipmentB. variable manufacturing cost of the new equipmentE. book value of the existing equipmentWhat is Book Keeping?This refers to the record that is kept about existing equipment or goods that states their current conditions.
Hence, we can see that it is with the knowledge of book keeping and the information inside that would guide to make the best decisions about keeping or replacing them and options A, B and E are correct.
Read more about inventory here:
https://brainly.com/question/25947903
#SPJ1
Answer:
variable manufacturing cost of the new equipment
sale of the existing equipment
variable manufacturing cost of the existing equipment
Explanation:
wrong answer above
What is one of the monetary benefits of attending college?
OA. The ability to choose a satisfying job
OB. Improved quality of life
OC. Increased earning potential in the future
O D. Missed opportunities to earn income
The correct option is C. Increased earning potential in the future. According to many education providers, increased earning potential in the future is one of the monetary benefits of attending college.
Although other benefits listed constitute part of the benefits of attending college but in terms of those that provide only "monetary benefit". Many education providers list increased earning potential at the top of their list among the monetary benefits of attending college. Based on this general consensus, we can conclude that option C is the most correct option.
You can learn more about the monetary benefits of attending college here https://brainly.com/question/15465290
#SPJ1
The _____ model is a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary objective is to maximize profits
a.
stakeholder
b.
customer
c.
ethical
d.
philanthropic
e.
shareholder
The shareholder model refers to a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary goal is to maximize profits. Hence, Option E is the correct statement.
What is the theory of shareholder model?An influential view of the role of commercial enterprise in society that pushes the concept that the simplest duty of managers is to serve withinside the great viable manner the interests of shareholders, the use of the sources of the company to grow the wealth of the latter via way of means of in search of profits is referred to as Shareholder concept.
Hence, The shareholder model refers to a theory of corporate social responsibility that holds that managers are agents of stockowners whose primary goal is to maximize profits. Hence, Option E is the correct statement.
learn more about shareholder model:
https://brainly.com/question/26253714
#SPJ1
Jones signed his paycheck and gave it to his wife Kayla to cash. Kayla is now a/an A. payee B. payor C. endorser D. bearer
Jones signed his paycheck and gave it to his wife Kayla to cash. Kayla is now payee.
Who is a payee?A payee is defined as the person who receives money from another party in a financial exchange. A payee is a person to whom payment is being made.
In the above scenario, Kayla is the payee because she went to cash in the check.
Learn more about payee here: https://brainly.com/question/14684974
#SPJ1
The Economy Tomorrow The following Economy Tomorrow section provides estimates of time spent in traffic delays.
If the average worker produces $110 of output per hour, what is the opportunity cost of.
a. Current traffic delays? $ billion
b. Estimated delays in 10 years (assuming no change in worker productivity)?
The opportunity cost of Current traffic delays , and Estimated delays in 10 years is mathematically given as
The existing traffic bottlenecks are costing the economy $385 billion in lost productivity per year.It is anticipated that in 10 years, traffic delays would cost $440 billion in lost productivity.Current traffic delays, and Estimated delays in 10 years?The opportunity cost is defined as the product of the value of production per hour multiplied by the hourly wage.
Generally, the Opportunity cost is mathematically given as
Opportunity cost =$110 million * $3.5 billion
Opportunity cost = $385 billion
The existing traffic bottlenecks are costing the economy $385 billion in lost productivity per year.
b)
For every year that goes by, 4 billion hours will be wasted in traffic.
The opportunity cost of a lost hour of work is defined as the product of its value per hour of production times its price.
Generally, the Opportunity cost is mathematically given as
Opportunity cost =$4 billion *$110
The answer is = $440 billion
It is anticipated that in 10 years, traffic delays would cost $440 billion in lost productivity.
Read more about Opportunity cost
https://brainly.com/question/13036997
#SPJ1
From the picture below, the marketing vice president is interested in the revenue numbers broken down by month, division, customer demographics, sales office, product version, and plan. These are her business dimensions along which she wants to analyze her numbers.
Question: In the case of Marketing Manager and Financial controller, what are their business dimensions they analyze their numbers?
The business dimensions to be analyzes by the Marketing Manager and Financial controller includes:
profitabilityliquiditysolvencyefficiencyvaluation.Who is a Marketing Manager & Financial controller?Marketing Manager are those managers that specializes in the development of marketing strategies for their organizations while the Financial controller is a top-hierarchy manager that oversees and controls the firm's day-to-day financial operations.
The main role of the Marketing Manager is to promote the firm's business, product, service etc while the main role of the Financial controller is to records and manages the accounting function.
Read more about business dimensions
brainly.com/question/7144497
#SPJ1
reducing accounts in chart of accounts
Answer:
Reducing the Chart of Accounts It may be possible to drastically shrink the number of expense accounts in use. In particular, consider using just the following mega-accounts: Direct costs. This account will probably contain the cost of materials and supplies used in the production process, as well as freight costs, and not a great deal more.
Explanation:
Hat Tricks Company (HTC) is a Buffalo, New York, manufacturer of hats and gloves. Recently, the company purchased a new machine to aid in producing the hat product lines. Production efficiency on the new machine increases with the workforce experience. It has been shown that as cumulative output on the new machine increases, average labor time per unit decreases up to the production of at least 3,200 units. As HTC’s cumulative output doubles from a base of 100 units produced, the cumulative average labor time per unit declines by a learning rate of 80%. HTC has developed a new style of men’s hat to be produced on the new machine. One hundred of these hats can be produced in a total of 20 labor hours. All other direct costs to produce each hat are $19 per hat, excluding direct labor cost. Direct labor cost per hour is $60. Fixed costs are $8,000 per month, and HTC has the capacity to produce 3,200 hats per month.
The selling price per hat is mathematically given as
S=$62
What is the selling price per hat?Compensation of Workers =20hr*60$/hour = $1200
Assorted Direct Expenditures =100hats*19$/hat = $1900
Hence,Total Direct cost. = $1200+$1900
Total Direct cost.= $3100
The selling price is 200% of the Direct production cost
$3100*200% = $6200
The selling price per hat = $6200 / 100hats
The selling price per hat = $62
In conclusion, The selling price per hat = is $62
Read more about the selling price
at brainly.com/question/28017453
#SPJ1
1. What is the relationship between forward rates and the market’s expectation of future short rates? Explain in the context of both the expectations hypothesis and the liquidity preference theory of the term structure of interest rates.
Through the expectations hypothesis and the liquidity preference theory of the term structure of interest rates, liquidity must be zero for the forward rate to be equal to the expectations of future short rates.
What is expectation theory?Corresponds to a forecast of short-term interest rates by analyzing them against current long-term interest rates.
Therefore, it is a theory used to assist in better understanding and forecasting short-term securities trading in the future.
Find out more about expectation theory here:
https://brainly.com/question/20630240
#SPJ1
Suppose your firm is considering investing in a project with the cash flows shown as follows, that the required rate of return on projects of this risk class is 8 percent, and that the maximum allowable payback and discounted payback statistic for the project are three and three and a half years, respectively. Time 0 1 2 3 4 5 Cash Flow −100,000 30,000 45,000 55,000 30,000 10,000 Use the PI decision rule to evaluate this project; should it be accepted or rejected?
The profitability index decision rule of the project equals 2.45 year and thus, the project should be accept to be embarked on.
What is a profitability index?The rule refers to a decision-making exercise that helps to evaluate whether to proceed with a project based on its profitability.
Hence, because the profitability index decision rule of the project equals 2.45 year and thus, the project should be accept to be embarked on.
Read more about profitability index
brainly.com/question/18089407
#SPJ1
An individual contributed $50,000 to her nonqualified annuity, and when she annuitized the policy, the insurance company determined that, based on her life expectancy, she will receive $100,000 in payments. If her initial monthly payment was $1,000, how much of that payment was taxable?
Payment of $500 will be taxable, as Non-qualified annuity distributions are never tax-free.
What is a nonqualified annuity?An individual can acquire a non-qualified annuity apart from an employee benefit. The tax-deferred growth of your investment is a benefit of an annuity.
Working note-
nonqualified annuity of an individual=$50,000
expected distribution=$100,000
initial payment=$1,000
=cost basis/expected distribution
=$50,000/$100,000
=0.50
To calculate how much payment was taxable-
The initial payment will be multiplied by the find rate
=$1,000*0.50
=$500
Therefore, $500 will be a taxable payment.
Learn more about insurance, here:
https://brainly.com/question/27822778
#SPJ1
Suppose that the required reserve ratio is 10 percent and you withdraw $25,000 from Comerica Bank.
What is the deposit multiplier?
What is the total decrease in deposits in the banking system?
What is the change in the money supply?
The deposit multiplier is 10, the total decrease in deposits in the banking system is-$250,000 and the change in the money supply is -$225,000.
Money multipliera. Money multiplier:
Money multiplier= 1/Required reserve ratio
Money multiplier= 1/0.10
Money multiplier= 10
b. Change in deposit:
Change in deposit=10×-$25,000
Change in deposit=-$250,000
c. Change in money supply:
Change in money supply=-$250,000+$25,000
Change in money supply=-$225,000
Therefore the deposit multiplier is 10, the total decrease in deposits in the banking system is-$250,000 and the change in the money supply is -$225,000.
Learn more about money multiplier here:https://brainly.com/question/14102161
#SPJ1
A clothing store asserts that 60% of its customers pay by credit. On a particular day, 35 customers purchased items at the store. a. What is the mean and standard deviation of the binomial distribution? b.What is the probability that half (18 or more) of the customers paid by credit? c. What is the probability that 30 or more paid by credit? d.What is the probability that less than 12 paid by credit? e. What is the probability that 12 to 30 paid by credit?
Based on the percentage of customers that pay by credit and the number of customers that purchased, the following are true:
Mean = 21; Standard deviation = 2.89830.85080.00090.00090.9982What are the standard deviation and mean?Mean is:
= 35 x 60%
= 21
Standard deviation:
= √(35 x 0.6 x (1-0.6)
= 2.8983
What are the probabilities for the clothing store?Probability that half of customers paid by credit:
First, find the z value to use the Standard Normal Cumulative Probability table:
= (18 - 21) / 2.8983
= -1.04
= 1 - P(z < -1.04)
= 1 - 0.1492
= 0.8508
Probability that 30 or more paid by credit:
= (30 - 21) / 2.8983
= 3.11
= 1 - P (z < 3.11)
= 1 - 0.9991
= 0.0009
Probability that less than 12 paid by credit:
= (12 - 21) / 2.8983
= -3.11
= P (z ≤ -3.11)
= 0.0009
Probability that 12 to 30 paid by credit:
= P (12 ≤ x ≤ 30)
= P (-3.11 ≤ z ≤ 3.11)
= 0.9991 - 0.0009
= 0.9982
Find out more on the Standard Normal Cumulative Probability distribution at https://brainly.com/question/7207785.
#SPJ1
Employees often attend trainings and read policies. They endure these, but do not internalize them. What should be your first step in getting your employees to appreciate the importance of data privacy?
The first step in getting employees to appreciate the importance of during the orientation process, the employee receives training in a variety of topics, including data privacy and the protection of personal information.
What is data privacy?
The area of data management that deals with treating personal data in accordance with privacy laws, rules, and industry best practices is known as “data privacy.”
Prior to accessing systems containing personal data, a new employee should have at least a basic understanding of personal data.
Maintaining a culture of personal data protection within the organization, including health data, biometric data, criminal convictions, and security measures data, will depend in large part on keeping employee awareness levels at the greatest possible level.
Hence, the significance of the data privacy is aforementioned.
Learn more about on data privacy, here:
https://brainly.com/question/27793049
#SPJ1
How far do differences in behaviour relate to national characteristics?
The differences in behavior and national characteristics are : Very close
What is National characterNational character is the shared perceptions of personality characteristics or behaviors of a group of people, which is shared and believed amongst the people living in a geographical area.
Therefore the differences in behavior is closely related to difference in national characteristics
Hence we can conclude that The differences in behavior and national characteristics are : Very close
Learn more about National character : https://brainly.com/question/1171548
#SPJ1
Which of the following is true regarding a market value adjusted annuity?
Answer:
A tool used by an annuity issuer to reduce its exposure to interest rate risk
if a company wants to compete on flexibility, what do they need to do?
Hello and Welcome to Brainly!
Alright let's solve your problem
Original Question: if a company wants to compete on flexibility, what do they need to do?
Answer:
They need to be openminded and flexible to change. Part of flexibility comes from the fact that the company can survive in any circumstance. However every circumstance requires different things and thus the company must adapt fast enough to surviveLearn about their team members, because by understanding what makes them the most productive, you can change the team schedule by allowing for them to work at their leisure while maximizing the outputSet more breaks. By setting more breaks, you are being flexibile with your workers by understanding that they are human. By doing so, you also increase productivity as workers are well-restedEncourage the employees to pursue their hobbies. This is a form of flexibility as you ask your employee to not only focus on their job, but other life interest. By doing so, the employee might feel gratified by the company's doings, and be more willing to workHope that helps!
#LearnwithBrainly