The ending inventories of chemicals for each month are 36,135, 33,825 and 41,456 gallons. Also, the beginning inventory for January is 36,135 gallons.
The table for planned production.In order to calculate the ending inventory of chemicals for the three months, we would create a table for planned production as follows:
January February March___
Units to be produced 43,800 41,000 50,250
Direct materials per unit 5.5 5.5 5.5 ___
Total direct materials 240,900 225,500 276,375
Since the company's policy requires ending inventories of raw materials for each month to be 15% of the next month's production needs, we have:
December = 15/100 × 240,900 = 36,135 gallons.
January = 15/100 × 225,500 = 33,825 gallons.
February = 15/100 × 276,375 = 41,456 gallons.
March = Nil.
Also, the beginning inventory of chemicals for January is given by December's ending inventory of 36,135 gallons.
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Complete Question:
Patrick Inc. makes industrial solvents sold in 5-gallon drum containers. Planned production in units for the first 3 months of the coming year is:
January 43,800
February 41,000
March 50,250
Each drum requires 5.5 gallons of chemicals and one plastic drum container. Company policy requires that ending inventories of raw materials for each month be 15% of the next month's production needs. That policy was met for the ending inventory of December in the prior year. The cost of one gallon of chemicals is $2.00. The cost of one drum is $1.60. Calculate the ending inventory of chemicals in gallons for December of the prior year, and for January and February. What is the beginning inventory of chemicals for January?
In a business plan proposal, what is an example of Investment requirements &Interest Cost?
Answer:
Gather all your company's existing information, including data on your business's revenue, operating budget, expansion plans, and so on. Integrate your goals, data, and financial needs into a concise, clean presentation. Research thoroughly any investor you plan on presenting your investment proposal to.
what are the shortcomings or national incom acconting system?
Answer:
The three main limitations to national income accounting are: Errors in Measurement: Black Market and underground activities are not included when calculating GDP. This is because there is no way to accurately measure black market activity.
Which of the following statements about cover letters is false?
a.
A cover letter gives an employer some insight into the applicant’s personality.
b.
A cover letter provides an employer with an sample of the applicant’s written communication skills.
c.
A cover letter is sent before a résumé so that the employer knows it is coming.
d.
A cover letter allows an applicant to go more in depth about their skills and abilities
The false statement about cover letters from the list of options is C. A cover letter is sent before a résumé so that the employer knows it is coming.
What is a Cover Letter?This refers to the one-page document that a job seeker submits with his resume or CV that serves as an introduction.
Hence, we can see that based on the fact that cover letters are used by job seekers to make an introduction of themselves, we can see that sending it before a resume is false.
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A forged ID may have a bumpy surface where alterations were made?
Bulk heated Mac & Cheese can be held for _______ hours. Enter the exact number.
Answer:
2
Explanation:
Bulk heated Mac & Cheese can be held for 2 hours.
Bulk heated mac & cheese can be held for 2 hours.
Where does Panera get their mac and cheese?The Mac and Cheese at Panera Bread are "prepared offshore with our exclusive recipe devised by our chefs," according to Panera Bread's defense to The Washington Post. As a result, the company is able to avoid employing preservatives that don't adhere to its clean requirements because the product is transported frozen to its bakery-cafes.
Bulk-heated mac & cheese, like any other cooked food, is susceptible to bacterial growth. Bacteria can multiply rapidly between 40°F and 140°F, which is known as the "danger zone." Therefore, it is important to ensure that cooked mac & cheese is held at a safe temperature to prevent bacterial growth and foodborne illness.
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What would be a best practice when managing the merchandise at a store?
Explanation:
A.
make sure that all products are bought from the same vendor
B.
make sure that products displayed (sold) near each other are of similar categories
C.
make sure that the merchandise is only available to a few elite sections of society
D.
make sure that the products are kept clustered together at the center of the store
Many executives own shares in the companies they manage and are also in high tax brackets. When faced with the choice between declaring dividends and repurchasing shares, managers may opt to repurchase shares as it is not a taxable event for them unless they sell their shares and with fewer shares outstanding, the stock price will likely rise. The company's investors may prefer dividend payments.
This is an example of what theory is in action?
The above is an example of theory is in action which is difference between Dividends and Buybacks.
What is a dividend?Dividends are leftover of a company's profit paid to shareholders. It is what is paid to those who own shares in a company at the end of the financial period.
It is to be noted that companies reward their shareholders by paying dividends or by buying back shares of stock.
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Why do you think making progress ranks as the most important factor contributing to motivation, according to recent studies? How can managers provide a sense of progress for employees working on long-range projects that might not show results for months or even years?
Because humans are rational thinkers, what often motivates people can sometimes be the least expected factor to be considered.
What is motivation?Put simply, in this context, motivation is a state of mind that puts in humans in a frame of mind where they tend to readily act on instructions or work towards meeting set goals.
Some managers provide a sense of progress for employees working on long-range projects that might not show results for months or even years by simplifying goals. In other words, they set short targets for their employees that can easily be tracked. For example, weekly or quarterly targets may be used.
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All transactions ______. (Select all that apply.) Multiple select question. have at least two effects on the accounting equation affect assets, liabilities, and/or stockholders' equity must affect assets must affect both assets and liabilities must affect both assets and stockholders' equity
All transactions b. affect assets, liabilities, and/or stockholders' equity, and d. must affect both assets and stockholders' equity.
What is the accounting equation?The accounting equation shows that assets are equal to liabilities and equity.
The implication of the accounting equation is that every transaction has at least two effects on the elements of financial statements, given their linkages.
Thus, the correct options are Options B. and D.
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Prescott Lumber processes logs into grade A and grade B lumber. Logs cost $20,600 per load. The milling process produces 3,000 units of grade A with a market value of $64,400, and 12,000 units of grade B with a market value of $9,200. The cost of the milling process is $9,000 per load.
Required:
a. If the costs of the logs and the milling process are allocated on the basis of units of output, what cost will be assigned to each product?
b. If the costs of the logs and the milling process are allocated on the basis of the net realizable value, what cost will be assigned to each product?
c-1. How much profit or loss does the grade B lumber provide using the data in this problem and your analysis in requirement (a)?
c-2. Is it really possible to determine which product is more profitable?
The cost that will be assigned to each product will be $5920 and $23680.
How to calculate the cost?From the information given, the cost to be allocated will be:
= $20600 + $9000
= $29600
The cost allocated to grade A will be:
= 3000/(3000 + 12000) × $29600
= 3000/15000 × $29600
= $5920
The cost allocated to grade B will be:
= 12000/(3000 + 12000) × $29600
= 12000/15000 × $29600
= $23680
The cost based on the net realizable value will be:
A = $29600 × 64000/73600
= $25900
B = $29600 × 12000/15000
= $23680
The loss that the grade B lumber provide will be:
= $9200 - $23680
= -$14480
Lastly, it's not ossible to determine which product is more profitable as there is a huge variance.
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Which of the following is part of an organization's general environment?
Explanation:
incomplete question,you need to complete your question for a correct answer
Calculate the breakeven point and contribution margin.
Fixed cost: $65,000
Selling price per unit: $5.00
Variable cost per unit: $1.00
Required: Breakeven point and contribution margin
The breakeven point is 16,250.
The contribution margin is $4.
What is the contribution margin and the breakeven point?Contribution margin is the difference between the price of an item and the variable cost per unit.
Contribution margin = price - variable cost per unit
$5 - 1 = $4
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / contribution margin
$65,000 / $4 = 16,250
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What loans tend to have a lower interest rate than credit cards and are used for specific purposes such as purchasing a home or car? Select one: a. Open-end loans O b. Bank loans Oc. Close-end loans O d. Credit union loans
The types of loans that tend to have a lower interest rate than credit cards and are used for specific purposes such as purchasing a home or car are c. close-end loans.
What are closed-end loans?Closed-end loans are designed for a particular purpose and are disbursed at once.
Unlike open-end loans, bank loans, or credit union loans, closed-end loans are not re-issued and the debtor is expected to pay back within a specific date.
Thus, the types of loans that tend to have a lower interest rate than credit cards and are used for specific purposes such as purchasing a home or car are c. close-end loans.
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A price floor set at $60 would create a surplus of 20 units. a. True b. False
Answer:
True
Explanation:
How can business apply force field analysis in the workshop
A plan of action can be used to raise support and minimize resistance to the change after the business uses force field analysis in the workshop.
What is the force field analysis?
Kurt Lewin's analysis of the force field. Before adopting changes to business processes, businesses use force field analysis as a decision-making tool to assess the significance, impact, and influence of various aspects.
To assess the important factors inside a team, department, company, or community that are both in favor of and opposed to a change process. A Force Field Analysis is used to determine where a proposed change is supported and where it is opposed.
Hence, the significance of the force field analysis is aforementioned.
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ABC Electronics Corporation Ltd. recently diversified its activities and started producing computers. It employed personnel at lower level and middle level. It has received several applications for the post of Commercial Manager-Computer Division. It could not decide upon the suitability of the candidate to the position, but did find that Mr. David is more qualified for the position than other candidates. Now the Corporation has created a new post below the cadre of General Manager i.e. Joint General Manager and asked Mr. David to join the Corporation as Joint General Manager. Mr. David agreed to it viewing that he will be considered for the General Manager's position based on his performance. Mr. Henery, the Deputy General Manager of the Corporation and one of the candidates for General Manager's position was annoyed with the management's practice. But, he wanted to show his performance record to the management at the next appraisal meeting. The management of the Corporation asked Mr. Smith, General Manager of Televisions Division to be the General Manager in-charge of Computer Division for some time, until a new General Manager is appointed. Mr. Smith wanted to switch over to the Computer Division in view of the prospects, prestige and recognition of the position among the top management of the Corporation. He viewed this assignment as a chance to prove his performance. The Corporation has the system of appraisal of the superior's performance by the subordinates. The performance of the Deputy General Manager, Joint General Manager and General Manager has to be appraised by the same group of subordinates. Mr. David is a stranger to the system as well as its Modus Operandi. Mr. Smith and Mr. Henery were competing with each other in convincing their subordinates about their performance and used all sorts of techniques for pleasing them like promising them a wage hike, transfers to the job of their interest, promotions etc. However, these two officers functioned in collaboration with a view to pull down Mr. David.
There should be a structured evaluation tool to analyze the performance appraisal
What is performance appraisal?The other parts of the question include:
a. How do you evaluate the workers appraisal in this case?
b. Do you suggest any technique to avert politics creeping into the performance of appraisal?
It should be noted that performance appraisal simply means review if the job performance of an employee.
In order to evaluate the workers appraisal, specific goals should be set and there should be performance standards.
The technique to avert politics creeping into the performance of appraisal is that personal bias should be avoided and the employees should be aware of the performance appraisal tools.
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Answer:
Explanation:
How do you evaluate the workers' appraisal in this case?
b) Do you suggest any techniques to avert politics creeping into the process of performance appraisal by subordinates?
(c) What measures would you like to suggest in dispensing with such an appraisal system?
If the tax elasticity of labor supply is 0.21, by how much do tax rates have to be reduced to increase the labor supply by 2 percent?
For labour supply to increase by 2%, tax rates have to be reduced by 9.52.
By how much should tax rates be reduced?The tax elasticity of labor supply measures the sensitivity of labor supply to tax rates. If the tax elasticity of labor supply is less than one, it indicates that the supply in inelastic.
The tax elasticity of labor supply = percentage change in labor supply / percentage change in taxes
0.21 = 2% / percentage change in taxes
Percentage change in taxes = 2% / 0.21 = 9.52
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Answer:
9.52
Explanation:
The audit committee is required by U.S. law to be:
The audit committee is required by U.S. law to have a minimum of three directors with the independent directors forming a majority.
What is audit?It should be noted that audit simply means an official inspection if the account of an organization by an independent body.
In this case, the audit committee is required by U.S. law to have a minimum of three directors with the independent directors forming a majority.
The complete question is:
The audit committee is required by U.S. law to:
a. have a director.
b. not comply with rules and regulations.
c. ensure min conformity with accounting principles.
d. have a minimum of three directors with the independent directors forming a majority.
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A single person earns a gross biweekly salary of $780 and claims 6 exemptions. how does their net pay change due to the federal income tax withheld?a.no federal income taxes are withheld.b.they will add $11 to their gross pay.c.they will subtract $11 from their gross pay.d.they will add $13 to their gross pay.
A single person earns a gross biweekly salary of $780 and claims 6 exemptions. their net pay changes due to the federal income tax withheld No federal income taxes are withheld. Option A. This is further explained below.
What is income tax?Generally, The income tax is a kind of direct taxation in which the government takes a cut of a person's earnings. The federal government is obligated to collect this fee because of the Income Tax Act of 1961.
In conclusion, A person living alone might expect to earn $780 every two weeks after taking into account the six allowances that are allowed for such a situation. Their after-tax income shifts as a result of federal income tax withholding. There will be no withholding of federal income taxes.
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Answer:
Answer is A
Explanation:
Because its A
According to the principles of supply and demand, why is it that as the price of a product increases, the amount supplied will also increase?
According to the principles of supply and demand, the price of a product increases, the amount supplied will also increase because there is positive relationship between price and quantity supplied.
Why when price increases supply also increases?Economists States that there is a positive relationship between price and quantity supplied—that means a higher price leads to a higher quantity supplied and a lower price leads to a lower quantity supplied.
Principle of supply states that at a higher price, a producer is willing to produce more of a good.
Principle of demand states that at a higher price, a consumer is less willing to purchase a good.
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Dr. Jones’ office has purchased the above equipment. It is now Year #2 and there is a $7,000 annual maintenance fee that needs to be added to the costs of the equipment. The variable cost is now $3.37 per study, but Dr. Jones’ office is planning on doing 1675 studies because there has been an addition of two new managed contracts, and there has been a reimbursement increase to $53.16.
The Loss recorded in the year 2 for the table is -$35,841.39.
What is the profit or loss on the table?Year 2
Monthly Cost in year $1564.29
Maintenance $0
Salary $39600
Fixed cost $0
Variable cost $356.40
Total cost $41520.69
Reimbursements = $5679.30
Profit or Loss = Reimbursements - Total cost
Profit or Loss = $5679.30 - $41520.69
Loss = -$35,841.39.
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Allan got a job at Tim Hortons on campus. His income for the year will be less than $30K. His new employer wants him to fill out a TD1 form.
Allan is a single dad and has a daughter under 18. Allan is over 65 years of age and also has a valid T2201 on file with CRA. Allan wants payroll to deduct an additional $100 per pay cheque to avoid paying additional taxes at year-end.
He has not received any bursaries or scholarships.
Required:
As a payroll admin you are required to assist Allan in completing his TD1 form and TD1-AB form
TD1-Form https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns/td1-forms-pay-received-on-january-1-later/td1.html
TD1-AB Form https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns/td1-forms-pay-received-on-january-1-later/td1ab.html
Based on the information given about the tax, the way to fill out the TD1 form will be:
He should follow the instructions on each line or the provincial and federal forms.Each of the amounts on the line is added together.The sum is then entered into the last line of page 1.How to illustrate the information?It should be noted that the TD1 form is used to determine the amount of tax that will be deducted from the income of an individual.
In this case, Allan has a T2201 which is a disability tax credit certificate. This is important as it helps people who have disabilities to reduce the amount of income tax that they'll pay.
Furthermore, Allan is a single dad, has a daughter under 18, and is over 65 years of age. Therefore, the appropriate way to fill the form is illustrated.
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Which of the following statements about income taxes is not correct?
The correct statement regarding the income tax is Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future. hence option C is correct
What is income tax?A tax placed on people or organizations in relation to their income or profits is known as an income tax. Tax rates multiplied by taxable income are typically used to calculate income taxes. Tax rates might change depending on the taxpayer's attributes and source of income.
The complete part of the question is below:
A) Review Later Income tax expense includes both the amount of tax payable in the current period and the amount of tax due in future periods.
B)Income taxes are based on taxable income and not accounting income.
C)Deductible temporary differences give rise to deferred tax liabilities, meaning that more tax is payable in the future.
D)Deferred taxes arise because of temporary differences between the tax base and the carrying amount of assets and liabilities on the balance sheet.
Hence option C is correct.
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On March 12, a company provides services on account to an individual Hospital for $9,100, terms 2/10, n/30. An individual does not pay for services until March 31, missing the 2% sales discount.
Required:
For an individual Hospital, record the purchase of services on account on March 12 and the payment of cash on March 31.
To record the transactions with the individual hospital company, the following journal entries are made:
Journal Entries:March 12: Debit Accounts Receivable $9,100
Credit Services Revenue $9,100
To record the sale of services on terms 2/10, n/30.March 31: Debit Cash $9,100
Credit Accounts Receivable $9,100
To record the receipt of cash in full settlement.Transaction Analysis:March 12: Accounts Receivable $9,100 Sales Revenue $9,100
Terms 2/10, n/30
March 31: Cash $9,100 Accounts Receivable $9,100
Thus, the journal entries for the customer do not require the recognition of the 2% sales discount since the customer could not pay within the discount window.
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1. A public relations manager plans to delegate crisis communications responsibilities to a subordinate. What characteristic will the manager need to assess of the subordinate prior to delegating responsibilities?
Storytelling ability
Performance readiness
Selling experience
Active participation
2. A human resource director provides training for new managers learning how to adjust their leadership styles based on their staff’s abilities to self-manage and their level of confidence in performing their jobs. Which type of leadership training is being provided by the human resource director?
Telling
Persuasive
Participatory
Situational
The characteristic that the manager needs to assess of the subordinate prior to delegating responsibilities is:
Performance readinessThe type of leadership training that is being provided by the human resource director is:
SituationalWhat is Situational Leadership?Situational leadership is seen when a manager delegates tasks based on the performance readiness of his staff.
The performance readiness in this case combines the ability of the person receiving the task and their willingness to execute the assigned task.
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What is a pension plan?
A. A retirement plan used by self-employed people and small
business owners to set aside money for retirement
B. An employer-sponsored plan that makes payments depending on
how much each employee contributes
OC. A government plan that provides monthly payments to people
upon retirement
D. An employer-sponsored plan that promises a certain amount of
money upon retirement
The pension plan is an employer-sponsored plan that promises a certain amount of money upon retirement. Option D is correct.
What is pension plan?A pension plan is an employee benefit that commits the employer to make regular contributions to a pool of money that is set aside in order to fund payments made to eligible employees after they retire.
Pension payments are made for the rest of your life, no matter how long you live, and can possibly continue after death with your spouse.
To get a pension, an employee has to work for a company that offers a pension plan. This can be a private company, though a majority of pension plans are now offered by government institutions and agencies. In addition, people must often meet a vesting requirement by working for a company for a specific amount of time to quality for pension plan benefits.
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What happens if my mission statement changes in the future?
It doesn't matter, things changes and people changes but atleast if it changes it should change for the BETTER.
Good luck ✅.
What is likely to occur during a period of inflation? (Standard 5.7)
O More than one of the above will occur
O People are likely to save money since prices are increasing
O I have no idea what the answer is.
O People are likely to spend their paychecks instead of placing their money in a
savings account
O People will not purchase land or valuable metals
During an inflation, people are likely to spend their pay checks instead of placing their money in a savings account.
What is an inflation?Inflation is a period that is characterised by a general increase in the price levels of goods and services. During an inflation, the value of money would erode quickly. This would discourage people from saving it. They would instead prefer to spend their monies.
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true/false . entrepreneurs need to constantly rethink their entrepreneurial self discovery model and reanalyze their entrepreneurial paradigms as the business scale up.
Answer:
I would say true...
Explanation:
As their business grows, so should their ideas. For example, if your business starts taking off (i.e. gaining new customers, notice of the public eye, and new demand of your services) it is a good idea to revise the ways of your business in order to sustain success. Businesses should grow along with their customers.
Bailand Company purchased a building for $148,000 that had an estimated residual value of $8,000 and an estimated service life of 10 years. Bailand purchased the building 4 years ago and has used straight-line depreciation. At the beginning of the fifth year (before it records depreciation expense for the year), the following independent situations occur:
The journal entries relating to the building for the fifth year is: Debit Depreciation expense $10,500; Credit Accumulated depreciation $10,500.
Journal entries1. Dec 31
Debit Depreciation expense $10,500
Credit Accumulated depreciation $10,500
(To record depreciation expense )
Book value=$148,000-($148,000-$8,000/10×4)]
Book value=$148,000-$56,000
Book value=$92,000
Depreciation=$92,000-$8,000/8
Depreciation=$10,500
2. Dec 31
Debit Depreciation expense $24,000
Credit Accumulated depreciation $24,000
[($92,000-$8,000)×6/21]
(To record depreciation expense)
3. Dec 31
Debit Accumulated depreciation $3,200.00
[($8,000×4)/10]
Credit Retained earnings $3,200.00
(To record prior year adjustment for depreciation expense)
Dec 31
Debit Depreciation expense $10,000.00
Credit Accumulated depreciation $10,000.00
[($148,000-$8,000)/10]
(To record depreciation expense)
Therefore the journal entries relating to the building for the fifth year is: Debit Depreciation expense $10,500; Credit Accumulated depreciation $10,500.
The complete question is:
Bailand Company purchased a building for $148,000 that had an estimated residual value of $8,000 and an estimated service life of 10 years. Bailand purchased the building 4 years ago and has used straight-line depreciation. At the beginning of the fifth year (before it records depreciation expense for the year), the following independent situations occur:
1. Bailand estimates that the asset has 8 years’ life remaining (for a total of 12 years).
2. Bailand changes to the sum-of-the-years’-digits method.
3. Bailand discovers that the estimated residual value has been ignored in the computation of depreciation expense.
Required: For each of the independent situations, prepare all the journal entries relating to the building for the fifth year. Ignore income taxes.
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