Answer:
1. Overhead rate = Overhead costs / Direct material costs
Overhead rate = $684,000 / $1,900,000
Overhead rate = 0.36
Overhead rate = 36%
2. How much direct labor cost and overhead cost are assigned to this job?
Total cost of job in process $71,000
Less: Overhead applied $7,920
($22,000 * 36%)
Less: Material cost of job in process $22,000
Direct labor cost $41,080
Hence, direct labor cost is $41,080 and Overhead cost is $7,920
what is the role of a manager
Answer:
Entrusted with a leadership role, a manager is responsible for overseeing a department or group of employees within a specific organisation or company. Managers are utilised in every sector, and the business model relies on their leadership and ability to operationalise the management structure.
Explanation:
In a management position, one can expect to have the following ten day-to-day responsibilities:
Daily Operations: The primary role of a manager is to ensure the daily functioning of a department or group of employees.
Staffing: Most employers expect their managers to interview, hire, and train new employees.
Set Goals: A manager articulates both short and long-term goals to ensure a company’s longevity.
Liaising: Although a manager typically oversees a group of employees, managers also effectively communicate with their bosses and convey the necessary information to the various company parties.
Administration: Managers complete administrative work and correspond with other departments.
Delegation: Effective managers have confidence in their employees and delegate tasks according to the department’s needs.
Motivate: As a leader, a manager motivates staff and creates an environment where employees thrive.
Enforcing Policy: Managers enforce company policy to cultivate an environment that makes employees hold one another accountable for their actions.
Training: If new technologies or systems are introduced to business, employers turn to managers to train employees.
Evaluation: To encourage satisfactory work, managers evaluate data and employee performance.
Answer:
Enstrusted with a leadership role a manager is responsible for overseeing a department or group of employees within a specific organisation or company.
What is Neeley Grocery's operating leverage factor at the target level of operating income?
A. 1.60.
B. 0.63.
C. 2.67.
D. 0.40.
Answer:
A. 1.60
Explanation:
For computation of operating leverage factor first we need to determine the required contribution which is shown below:-
Required Contribution = Target Profit + Fixed Cost
= $25,000 + $15,000
= $40,000
Operating Leverage Factor = Contribution ÷ Operating Income
= $40,000 ÷ $25,000
= $1.60
Therefore for computing the operating leverage factor we simply applied the above formula.
Which best describes the purpose served by economic models within an economic system? Models identify patterns. Models determine the business cycle. Models control change. Models define global demand.
Answer:
Models identify patterns
I took it and I got it right
The purpose served by economic models within an economic system is that Models identify patterns.
What is economic model?An economic model can be regarded as simplified description of reality, which is been designed to yield hypotheses as regards economic behavior.
It identify patterns and it is necessarily subjective in design .
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Joe Fixit has an appliance-repair business. He has more business than he can handle and wants to hire another repair person. Joe estimates that three appliances can be repaired each hour by a qualified person. Joe bills out labor at $45 per hour, but he stipulates that the minimum charge for appliance-repair estimates is $30 plus parts. What is the marginal revenue product of a qualified repair person
Answer:
The marignal revenue that another worker would bring to Joe under these circumstances is $90.
If joe hires a new worker, the worker can repair 3 appliances per hour, and the mininum charge for appliance-repair is $30 plus parts. The marignal revenue is:
$30 x 3 appliances = $90
Because wages are equal to the marginal product of labor, the maximum amount that Joe would pay to a new person is $90.
Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1: Material $5 Labor 3 Overhead 2 $10 Beginning inventory at these costs on July 1 was 11,500 units. From July 1 to December 1, Convex produced 26,000 units. These units had a material cost of $7 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting. a. Assuming that Convex sold 28,000 units during the last six months of the year at $14 each, what would gross profit be?
Answer:
Gross profit= $79,000
Explanation:
Giving the following information:
July 1, 20X1:
Material $5
Labor 3
Overhead 2
Total= $10
Beginning inventory at these costs on July 1 was 11,500 units.
From July 1 to December 1, Convex produced 26,000 units.
These units had a material cost of $7 per unit.
First, we need to determine the cost of goods sold. Under the FIFO (first-in, first-out) method, the COGS is calculated using the cost of the first units produces.
COGS= 11,500*10 + 16,500*12= $313,000
Now, we can calculate the gross profit:
Gross profit= sales - cogs
Gross profit= 28,000*14 - 313,000
Gross profit= $79,000
Tumbling Haven, a gymnastic equipment manufacturer, provided the following information to its accountant. The company had net fixed assets of $356,190, and other assets of $4,176. The firm has current liabilities of $94,792, long-term debt of $76,445, common stock of $200,000, and retained earnings of $134,461. What amount of current assets did this firm have?
Answer: 145332
Explanation:
Current assets are the assets that a company has wgich are expected to either be sold or used during the next year and they iinclude cash, stock inventory, accounts receivable, marketable securities, cash equivalents, pre-paid liabilities, etc
It should be noted that:
Total asset = Current asset + $356190 + $4176
= Current asset + $360366
Long term debt + equity = 76445 + 200000 + 134461
= $410906
Current liabilities = $94,792
Since current liabilities= Total asset - (long term debt + equity)
$94,792 = (Current asset + $360366) - $410,906
Current asset = $94792 + $410906 - $360366
= $505698 - $360366
= $145,332
The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged is Rs.500 a ride. Motorville taxicab drivers want to obtain government's permission to raise the fare to increase their revenues and ask you to be their economic adviser. After studying the market, you come up with the following demand schedule for taxicab rides:
Price (Rupees per ride) Quantity demanded (rides per month)
300 160
400 120
500 80
600 40
700 0
(i) Calculate the price elasticity of demand for taxicab rides as the fare rises from Rs.500 to Rs.600. Is the demand price elastic or inelastic for this fare rise? (2 Marks)
(ii) What happens to the taxicab drivers' total revenue if the fare rises from Rs.500 to Rs.600? How can you use your answers in part “a” to answer this question? Should the drivers try to obtain permission to raise the fare? (2 Marks)
(iii) Calculate the price elasticity of demand for taxicab rides as the fare falls from Rs.500 to Rs.400. Is the demand price elastic or inelastic for this fare decrease?
Answer:
The answer is below
Explanation:
i) The price elasticity of demand is given by the formula:
[tex]Price \ elasticity\ of \ demand=\frac{\Delta Q}{\Delta P} =\frac{\frac{Q_2-Q_1}{(Q_2+Q_1)/2} }{\frac{P_2-P_1}{(P_2+P_1)/2} } \\\\Price \ elasticity\ of \ demand=\frac{\frac{40-80}{(40+80)/2} }{\frac{600-500}{(600+500)/2} }=\frac{-2/3}{2/11} =3.667 (ignore \ the\ sign)[/tex]
Since the price elasticity of demand is greater than 1 hence it is elastic
ii) Since the price elasticity of demand is elastic as a result of increase in fare, hence the total revenue would decrease.
iii)
[tex]Price \ elasticity\ of \ demand=\frac{\Delta Q}{\Delta P} =\frac{\frac{Q_2-Q_1}{(Q_2+Q_1)/2} }{\frac{P_2-P_1}{(P_2+P_1)/2} } \\\\Price \ elasticity\ of \ demand=\frac{\frac{120-80}{(120+80)/2} }{\frac{400-500}{(400+500)/2} }=\frac{0.4}{-2/9} =1.8 (ignore \ the\ sign)[/tex]
Since the price elasticity of demand is greater than 1 hence it is elastic
What is a example of good customer service?
Answer:
Jet blue= thanks frequent customers with small gesturer
Tesla= meet your customers where they r at
Which of the following are considered
assets?
l. A vehicle
Il. Student loans
III. Rent payments
Answer:
A vehicle
because vehicles are valuable and useful.
assets-a useful or valuable thing, person, or quality.
Which of the following are required by the Sarbanes-Oxley Act?
A. A report on internal control. B. A vertical analysis. C. A common-sized statement. D. A price-earnings ratio.
Answer:
a. a report on internal control
Explanation:
the sarbanes-oxley act was passed in 2002. This law serves to help protect investors and the public from fraud while giving financial reports by corporations. It was sponsored by Senator Paul Sarbanes and Representative Michael Oxley. This legislation is to help improve the reliability of corporations financial reporting as well as to help improve the confidence of shareholders and investors.
This act requires a report on internal control.
Equivalent Units of Materials Cost The Rolling Department of Kraus Steel Company had 4,600 tons in beginning work in process inventory (70% complete) on October 1. During October, 77,000 tons were completed. The ending work in process inventory on October 31 was 3,900 tons (40% complete). What are the total equivalent units for direct materials for October if materials are added at the beginning of the process? 80,900 units
Answer:
Total equivalent units= 80,900 tons
Explanation:
Giving the following information:
During October, 77,000 tons were completed. The ending work in process inventory on October 31 was 3,900 tons (40% complete).
Because the direct material is added at the beginning of the process, we should not take into account the beginning inventory. It was recognized the previous month.
For direct material, each ton is completed at 100%.
Units completed= 77,000*1 = 77,000
Ending inventory= 3,900*1= 3,900
Total equivalent units= 80,900 tons
The process of developing a pool of qualified job applicants is called job analysis TURE OR FALSE
Answer:
F
Explanation:
Data concerning Pellegren Corporation's single product appear below: Fixed expenses are $531,000 per month. The company is currently selling 4,000 units per month. The marketing manager would like to cut the selling price by $14 and increase the advertising budget by $35,000 per month. The marketing manager predicts that these two changes would increase monthly sales by 500 units. What should be the overall effect on the company's monthly net operating income of this change? Select one: a. decrease of $18,000 b. increase of $38,000 c. decrease of $38,000 d. increase of $58,000
Answer:
a. decrease of $18,000
Explanation:
The calculation of overall effect on the company's monthly net operating income is shown below:-
Particulars Current Proposed
Sales $800,000 $837,000
($200 × 4,000) (200 - 14) × (4,000 + 500)
Variable
expenses $160,000 $180,000
(40 × 4,000) (40 × (4,000 + 500))
Contribution
margin $640,000 $657,000
Fixed
expenses $531,000 $566,000
($531,000 + 350,00)
Net operating
income $109,000 $91,000
Decrease in net operating income is
= $109,000 - $91000
= $18,000
Laura and Bryce both want to be able to forward receipts to QuickBooks Online to take advantage of the Receipt Capture feature. Where would they go to enable an additional email account for the same QuickBooks Online company? Gear > Tools > Manage Receipt Capture emails Banking > Receipts > Manage Senders Banking > Receipts > Manage Receipt Capture emails Gear > Account and Settings > Advanced > Manage Senders
Answer:
Banking > Receipts > Manage Senders> Image capture
Explanation:
For taking advantage with respect to the capital feature of receipts the following procedure is applied and for enabling an extra email account the same is considered
In the column of manage, senders enter the new mail
Also, one company mail is restricted in QuickBooks online
Now if the extra email is needed to use the field of customer-facing in the column of sales form
This should be followed
A large corporation has accrued a lot of debt over the last two years in an
effort to expand its business. While they have gained new customers, they
still aren't making enough money to pay off their debt. Which type of
bankruptcy would this company likely want to file?
A. Chapter 13
B. Chapter 7
C. Chapter 1
D. Chapter 11
Someone help plz
Answer:
D. Chapter 11
Explanation:
Apex
Levin Furniture buys a living room set with a $4,000 list price and a 55% trade discount. Freight (FOB shipping point) of $50 is not part of the list price. What is the delivered price (including freight) of the living room set, assuming a cash discount of 2/10, n/30, ROG? The invoice had an April 8 date. Levin received the goods on April 19 and paid the invoice on April 25.
Answer:Delivered price=$1,814
Explanation:
List Price = $4,000
Trade discount = 55%
Price after discount = $4,000 - 55% x $4000
$4000- $2,200 = $1,800
if Levin pays within 10 days he will have a discount of 2 %, which he did
Therefore 2% x $1800 = $36
Delivered price = $1800 -$36+ freight charges ( shipping)
$1800 -$36 + $50=$1814
When I buy a $12.00 movie ticket rather than two paperback books, the
opportunity cost of going to the movie is the two paperback books I did
not buy.
True or false?
How do organizations use and deliver podcasts business communication?
Explanation:
Podcasts are usually recorded audio clips but may also be in video or document formats.
The following are some of the uses of podcasts by organizations;
to market new productsprovide information about the organizationto reach new audiences (for example, audio podcast reaches the visually impaired)These podcasts are usually delivered via the organization's podcast channel/account, so users can just follow the organization's channel to get the latest episodes.
Which method is used to compute depletion?a. Double-declining-balance methodb. Straight-line methodc. Depletion methodd. Units-of-production method
Answer:
d. Units-of-production method
Explanation:
For computing the depletion method, the units of production method is to be used as the straight line method, double declining method are to used for depreciating the fixed assets not for depleting the assets
The units of production method could be used for the depleting the natural resources like mines, etc
So, the correct option is d.
Which of the following can be filed by the defendant of a lawsuit?A) InjunctionB) ReplyC) ComplaintD) Answer
Answer:
D) Answer
Explanation:
Answer can be filed by the defendant of a lawsuit. This is basically a pleading or response that is filed by the defendant in order to respond to a complaint made by a plaintiff. So when a defendant files an answer, he pleads and presents the defenses or counter arguments by addressing the allegations or claims made by the plaintiff in the complaint. So this way the defendant defends himself/herself against the accusations that are made against the defendant.
Injunction is not valid here because it is a court order which requires an individual to take a particular action or stop doing a particular action.
Reply is also not a valid option because it is a pleading or response of a plaintiff to the defendant's demand for relief which the defendant appeals through the filed answer.
Complaint is also not a valid option because it is a pleading which is filed by the plaintiff. This pleading is filed in order to start a case or a civil action and this is presented in a form of a document.
In the month of November, Terpak Industries had the following overhead costs. 1. Property taxes, $22,500 ($10,000 for offices, $12,500 for factory) 2. Insurance, $14,380 ($3,140 for office building insurance, $7,240 for accidental injury insurance on factory workers, $4,000 for factory building insurance) 3. Utilities, $1,843 ($1,200 for factory, $643 for offices) 4. Depreciation, $47,000 ($15,400 for factory equipment, $19,000 for factory building, $12,600 for office building) How much will Terpak debit their Manufacturing Overhead account on November 30
Answer:
The amount Terpak will debit their Manufacturing Overhead account on November 30 is $59,340.
Explanation:
Manufacturing overhead can be described as all indirect costs that are incurred by a firm during the production process.
Manufacturing overhead is also known as factory overhead and it can be calculated by considering all the costs related to the factory.
For this question, the amount Terpak will debit their Manufacturing Overhead account on November 30 can therefore be calculated as follows:
Particulars Amount ($)
Factory tax 12,500
Factory accidental injury insurance 7,240
Factory building insurance 4,000
Factory utilities 1,200
Depreciation of factory equipment 15,400
Depreciation of factory building 19,000
Total manufacturing overhead 59,340
Therefore, the amount Terpak will debit their Manufacturing Overhead account on November 30 is $59,340.
Select the correct answer. Adalyn wants to find a job in Education and Training. She has excellent analytical thinking and leadership skills, but she does not want to work directly with students. Which career would be the best option for her? A. curriculum developer B. high school teacher C. school counselor D. speech-language pathologist
Answer:
Curriculum
becasue it is the only job where she does not interact with students.
Answer:
A curriculum because
Where would period costs be found on the financial statements?A. As operating expenses on the income statement in the period incurred.B. As operating expenses on the income statement for a previous period.C. Under current assets on the balance sheet.D. Under current liabilities on the balance sheet.
Answer:
A. As operating expenses on the income statement in the period incurred
Explanation:
In Variable Costing, Both Fixed Manufacturing Costs and Non - Manufacturing Costs are treated as Period costs. In Absorption Costing, only Non - Manufacturing Costs are treated as Period costs.
Period Costs can be found under operating expenses on the income statement in the period incurred.
Examples include Advertising, Rentals, Selling and Distribution and any Administration costs.
Which is not an example of an intangible products? 1) Music downloads 2) t-shirt 3) online video game 4) software
Answer:
The second option, a t-shirt.
Explanation:
Tangible means something that is "perceptible by touch."
If you can touch something and feel it, it's tangible.
Answer:
[tex]\boxed {\tt 2. \ T-shirt}[/tex]
Explanation:
This question asks us which is not an example of an intangible product. We need to find the object that is tangible. Let's define the words and examine our answer choices.
A tangible product is a physical object that can be touched, while an intangible product is a product that cannot be touched.
Music downloads, online video games, and software are all intangible. They cannot be touched, as they are all virtual.
A t-shirt is a tangible product that can be touched.
Therefore, the correct answer is 2. T-shirt
Determine earnings per share for Sixer Company given the following:
Net Sales Income before Income Taxes Gross Profit Income Tax Rate Preferred Stock Common Stock $885,000 $300,000 $500,000 3596 10,000 shares of 3% cumulative, $60 par 125,000 weighted shares of $5 par
A) $2.40
B) $0.70
C) $2.26
D) $1.42
Answer: D) $1.42
Explanation:
Earnings per share is calculated as the amount available to common shareholders divided by the number of common shares.
Income available to shareholders = After tax income - Preferred dividends
Income before taxes = $300,000
After tax income = 300,000 * ( 1 - 35%)
= $195,000
Preferred dividend = 10,000 * 3% * 60
= $18,000
Income available to shareholders = 195,000 - 18,000
= $177,000
Earnings per share = Income available to shareholders / Common shares
= 177,000/125,000
= 1.416
= $1.42
What are some of the reasons businesses fail?
Answer:
The most common reasons businesses fail include a lack of capital or funding, retaining an inadequate management team, a faulty infrastructure or business model, and unsuccessful marketing initiatives.
Some of the reasons businesses fail are lack of knowledge, lack of planning, lack of management of resources effectively.
What is business?An economic activity that involves the exchange of goods and services with the help of buying and selling with the objective to gain some profit is called Business.
A business can possibly fail when there is no planning of things like what to do and how to do it. For a business, to be effective, there should be a plan or roadmap which needs to be followed step by step in order to succeed.
A business will fail when it is unable to manage the capital as well as the workforce effectively and make optimum utilization of it in order to produce and achieve productivity in abundance.
When a business does not have expertise or knowledge about the field as well as current market trends and competitors it will go to fail as it is unable to cope with the trend
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Multiphonics produce no new sonic alternatives for the oboe.
a. True
b. False
Answer: False
Explanation:
Most of the oboe’s history is typically represented in the drawings and the paintings of ancient civilizations. The oboe can be said to come from the family will of the shawm instrument.
It should be noted that there are different fingering positions that help in the production of multiphonics on oboe.
Therefore, the statement that "Multiphonics produce no new sonic alternatives for the oboe" is false.
You are considering the purchase of a new machine to help produce a new product line being introduced. The machine is expected to have a setup time of 10 minutes per batch and a processing time of 2 minutes per part. You plan to have batch sizes of 50 parts. The plant operates 8 hours per day.
A. (5 points) What is the capacity of the machine in batches per day?
B. (5 points) What is the capacity of the machine in parts per day?
C. (5 points) How many batches per daycan you run through the machine if you decide to operate the machine at a 70% utilization rate?
D. (5 points) How many parts per daycan you process through the machine if you decide to operate the machine at an 85% utilization rate?
Answer:
A. 4.3 batches
B. 215 parts
C. 3 batches
D. 184 parts
Explanation:
Please find explanation attached
The most commong reason for leaving a site without purchasing includes:______.A. Customers could not find the items they were looking for.
B. Site did not look trustworthy.
C. Shipping charges were too high.
D. All the above.
Answer:
All of the above
Explanation:
A customer on visiting a website might decide not to go ahead with a purchase due to the following reasons
- They did not see the product in which they wish to buy after going through the different lists of products that can be found on the website.
- There are some parts of the site that looks suspicious to them such as payment options. Some customers may not comepletly trust the credibility of a site, this makes scared to put in their card details for payment for fear of being scammed online.
- There are some website that increase their shipping costs, this high price often discourage customers from buying a particular product.
Hence, in the scenario described above, all of above are the most common reasons for leaving a site without purchasing anything.
Rick and Jose gain new market information regarding a potential entrepreneurial opportunity. Despite the fact that both of them have gained access to this new information, only one of these individuals has access to additional information suggesting that other competitors are already moving to exploit this opportunity. What is this an example of
Incomplete. Here are the options;
A. information asymmetry
B. information assurance
C. information reliability
D. information asset
E. social networking
Answer:
A. information asymmetry
Explanation:
The concept of Information asymmetry involves a situation where one party in a relationship has more or better information than the other party.
In this case, there exists a party with more (additional) information than the other, hence it is a good example of information asymmetry.
The given description most likely exemplifies the situation of:
A). Information Asymmetry
'Information Asymmtery' is characterized as the terminology that is employed to denote the transactions(holding between two parties) that involve one party(buyer or seller) possessing comparatively more or added information than the other party. In the given scenario, one party possessing extra information regarding the other competitors' hunt on this newly available opportunity would be characterized as 'Information Asymmetry.' Therefore, this correctly exemplifies the concept.
Thus, option A is the correct answer.
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