Answer:
Total cost= $207,000
Explanation:
Giving the following information:
Budgeted manufacturing costs Dept. M Dept. A:
Direct labor 218,000 836,000
Factory overhead 654,000 418,000
Job. No. 432:
Direct materials $58,000
Direct labor: Department M$26,000 Department A 30,000
First, we need to determine the predetermined overhead rate for each department:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Departement M= 654,000/218,000= $3 per direct labor dollar
Department A= 418,000/836,000= $0.5 per direct labor dollar
Now, we can calculate the total cost:
Total cost= direct material + direct labor + allocated overhead:
Total cost= 58,000 + 56,000 + (3*26,000 + 0.5*30,000)
Total cost= $207,000
At the beginning of the call, the team members ask how one another is doing and mention the weather. What piece of advice for virtual meetings does
this best match?
Answer:
At the beginning of the virtual meeting it is okay to start with small talks such as the weather.
Explanation:
No option was given here so I think the answer is to make room for small talk. Opening up straight with the meetings agenda is not a very good way to start. By using small talks, each member of the meeting would be more open and flow better with the meetings agenda. Before the meeting starts a few minutes of small talk such as these would get everyone warmed up. And members would feel more comfortable.
The piece of advice for virtual meetings does this best match should be like small talks like how was the weather there.
Virtual meeting:The meeting that should be conducted online is known as the virtual meeting. By starting with the main thing of meeting should not give the good impact.
So its better to start with the small talks so that everyone in the meeting should be feel comfortable first and according to the conversation, the agenda of the meeting should be come with.
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What are the three tools the Fed uses to keep the economy stable?
Explanation:
The main function of Fed or Federal Reserve (established in 1913), is to manage the growth of bank reserves and money supply (for the stable expansion of the economy). The tools used by the Fed are as follows :
Opening the marketing operations.The changes in discount rate can be done.Changing the reserve ratio (ratio of percentage of reserves a bank is required to hold against deposits)The following is a partial list of accounts from Pearl Jam Company: Accounts receivable $3,600 Accounts payable 2,950 Building 79,800 Cash 7,800 Common stock 25,000 Dividends 2,400 Insurance expense 900 Retained earnings 17,500 Salary expense 28,000 Salary payable 1,800 Service revenue 113,200 For the trial balance, what is the DEBIT column total
Answer:
The debit column total is $122,500.
Explanation:
A trial balance is a list of balances (debit and credits) extracted from the Ledger Accounts. It is used to prepare Financial Statements.
Pearl Jam Company trial balance is prepared as follows :
Trial Balance
Debit $ Credit $
Accounts receivable 3,600
Accounts payable 2,950
Building 79,800
Cash 7,800
Common stock 25,000
Dividends 2,400
Insurance expense 900
Retained earnings 17,500
Salary expense 28,000
Salary payable 1,800
Service revenue 113,200
Totals 122,500 160,450
Add the following and reduce to lowest terms: 61/8+4 3/8=
Answer:
10 1/2 or 10.5
Explanation:
6,1/8 + 4,3/8
= 49/8 + 35/8
= 49 + 35
8
= 84/8
= (84/4) / (8/4)
= 21/2
= 10 1/2 or 10.5
Which of the following statement is not true about the Project stakeholders?
A. Stakeholders responsibilities may overlap.
B. Stakeholders may have different agenda.
C. Project Managers must understand how stakeholders can affect the project.
D. All stakeholders must be independent of each other.
I think d is the answer
Explanation:
all stakeholders must not be independent all must work together
why is it important to understand the competition your business faces?
Answer:
It can help you to make your products, services and marketing stand out. You can use this knowledge to create marketing strategies that take advantage of your competitors' weaknesses, and improve your own business performance.
What is something an escrow agent should never do?
a) Receive money from lenders.
b) Offer legal advice.
c) Obtain title insurance.
d) Prepare closing documents.
Answer: Obtain title insurance
Explanation:
An escrow agent is someone who is trusted and holds property for third parties in case there's a ongoing disagreement that's being settled or in case whereby a transaction is being finalized and this role is usually performed by an attorney
An escrow agent can:
• Receive money from lenders.
• Offer legal advice.
• Prepare closing documents.
Therefore, an escrow agent should not obtain title insurance.
Business taxes increase. what is the impact on aggregate expenditures and income?
Entrepreneurship can be very challenging. Which is not a typical challenge of being an entrepreneur?
Answer:
Financial reward is not a typical challenge
Explanation:
Kansas Enterprises purchased equipment for $73,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,500 at the end of five years. Using the double-declining balance method, depreciation expense for 2022 would be:___________.
a. $26,200
b. $15.720
c. $17.520
d. $29.200
Answer: 29.200
Explanation:
This and the following three questions are related: Suppose that you are a major airline that has budgeted a price of fuel of 1.3840 USD/gal for fiscal year 2021 and you plan to end up buying 1 million gallons of it. To hedge against possible increases in the price you buy a one-year call option with a strike price of 1.4539 USD/gal for 1 million gallons with a premium of 1 cent/gal. How much would you the total premium of the option be
Answer:
A. 10,000 USD
Explanation:
Total premium will be as given below
= 1 million gallons * 1 cent/gal
= 1,000,000 * (1/100)
= 10,000USD
Note: Options to question is as attached
Do you think the study of Financial Accounting can help you in running your business? Why?
Answer:
It could save you alot of money, personally I run my own online business, and I do all the accounting myself instead of hiring someone to do it, although its very time consuming.
Uber Beacon would be an example of which of the following?
A. core innovation.
B. innovation system.
C. process innovation.
D. transformational innovation
Answer:
Uber Beacon is an example of core innovation.
Explanation:
Uber Beacon is an example of core innovation because its a product upgrade that enable customers identify the exact car picking them up and enhance the ride experience.
Core innovation is simply studying the norm and creating a new pattern to change or integrate the existing pattern. Core innovation can be an upgrade of an existing platform or total replacement which in turns improves customers' experience. Uber Beacon is a change in pattern as it improves customers' expectations.
Which type of factor of production is a road?
erm it's the goods one so it's secondary
A manufacturer of tiling grout has supplied the following data:
Kilograms produced and sold 340,000
Sales revenue $1,910,000
Variable manufacturing expense $956,000
Fixed manufacturing expense $258,000
Variable selling and administrative expense $363,000
Fixed selling and administrative expense $224,000
Net operating income $109,000
The company's contribution margin ratio is closest to:_______.
(A) 49.9%
(B) 81.0%
(C) 30.9%
(D) 74.8%
Answer:
(C) 30.9%
Explanation:
Calculation for the company's contribution margin ratio
First step is to find the Contribution margin using this formula
Contribution margin = Sales - Variable expenses
Let plug in the formula
Contribution margin = $1,910,000-$1,319,000
Contribution margin = $591,000
Second step is to calculate for the Contribution margin ratio using this formula
Contribution margin ratio= Contribution margin ÷ Sales
Let plug in the formula
Contribution margin ratio = $591,000 ÷ $1,910,000
Contribution margin ratio = 0.309×100
Contribution margin ratio=30.9%
Calculation for Total Variable expenses
Variable manufacturing expense $956,000
Variable selling and administrative expense $363,000
Total $1,319,000
Therefore the Contribution margin ratio will be 30.9%
The company's contribution margin ratio is closest to 30.9%. A company's contribution margin ratio (CM ratio) is determined by dividing revenue by revenue less all variable costs. It stands for the small gain from manufacturing an extra unit. Thus, option C is correct.
The company's contribution margin ratio is calculated as:
Sales minus variable costs equal contribution margin.
formula:
Margin of contribution = $1,910,000 - $1,319,000
Margin of contribution = $591,000
The Contribution margin ratio is calculated in the following step using this formula.
Sales Contribution Margin to Calculate Contribution Margin Ratio
formula:
The ratio of contribution: $591,000 divided by $1,910,000
Contribution margin ratio: 0.309 to one hundred.
The ratio of contribution is 30.9%
Total Variable Expense Calculation
$956,000 in variable manufacturing costs
$363,00 in variable marketing and administrative costs
Total $1,319,000
The Contribution Margin Ratio will thus be 30.9%.
Revenue is less variable costs equal contribution margin. The formula for calculating the contribution margin ratio is (Revenue - Variable Costs) / Revenue.
The contribution margin may not always be a reliable indicator of economic gain. There may be major fixed costs that businesses must take into account. To ascertain how many units must be sold at what price for a business to break even, a break-even analysis may be necessary.
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Under The Factoring Arrangement, The Factor
Answer:
Hope this may help you
A benefit paid for a limited time to eligible workers who are involuntarily unemployed is known as:
During the current year, Elk Company incurred the following direct labor costs: January $40,000 and February $60,000. Elk uses a predetermined overhead rate of 120% of direct labor cost. Estimated overhead for the 2 months, respectively, totaled $39,000 and $71,400. Actual overhead for the 2 months, respectively, totaled $50,000 and $67,000. Was overhead under- or overapplied during January and by how much?
Answer:
January Overheads are under-applied by $2,000.
Explanation:
When,
Actual overheads > Applied overheads we say overheads are under-applied.
Actual overheads < Applied overheads we say overheads are over-applied.
Where,
Applied overheads = Predetermined overhead rate × Actual Activity
Therefore,
Applied overheads (January) = 120% × $40,000
= $48,000
Actual overheads (January) = $50,000.
Conclusion
It can be seen that from the above : Actual overheads : $50,000 > Applied overhead : $48,000, therefore overheads were under-applied.
Amount of under-applied overheads = $50,000 - $48,000
= $2,000
________is due to the inability to "successfully" adapt in the new country.
Answer:
Acculturative stress
Explanation:
Acculturation can be defined as the experiences and changes, which may be psychological, social or cultural that individuals and group of people undergo when they come into contact or are trying to adapt with a different culture in a society.
Hence, acculturation involves the process of transferring customs, beliefs and values from a cultural group to another.
This ultimately implies that, acculturative stress is due to the inability to "successfully" adapt in the new country. For instance, an African immigrant who migrates to the United States of America may experience a significant level of stressors in adapting to the cultural values, customs and beliefs of the people living in the particular state or region.
The following information was taken from the accounting records of Light Tool Corporation. Work in process inventory, beginning of the year $ 50,000 Cost of direct materials used 260,000 Direct labor cost applied to production 135,000 Cost of finished goods manufactured 897,750 Overhead assigned to production was $500,000. Compute the amount of the work in process inventory on hand at year-end.
Answer:
47,250
Explanation:
The manufacturing costs in the year is the sum of work in process inventory, at the beginning of the year, the cost of direct materials, the direct cost of labor and the overhead assigned to production as computed thus:
manufacturing costs=50,000+260,000+135,000+500,000
manufacturing costs=945,000
amount of the work in process inventory on hand at year-end=manufacturing costs-cost of finished goods manufactured
amount of the work in process inventory on hand at year-end=945,000-897,750= 47,250
Which of the following statements is true of offshoring?a. It is invariably the same thing as outsourcing.b. It typically involves arranging for other organizations to perform value chain functions that were previously performedinternally.c. It requires outsourcing.d. It means moving processes previously performed domestically to a foreign location.
Answer: d. It means moving processes previously performed domestically to a foreign location.
Explanation: Large organizations may often base or allot different business process or operations in different locations. Hence, offshoring may be explained as a business practice whereby certain business processes are moved from its previous domestic base to a foreign location. The concept of offshoring is usually a well thought of process whereby organizations relocate to regions that affords more in terms of cost effectiveness in production where they could more easily secure raw materials, available market to sell, skilled and unskilled labors, machineries and other factors capable of fostering productivity.
On the budgeted balance sheet,the number for notes payable will come from the ________.
A) operating budget
B) schedule of cash receipts
C) cash budget
D) cost of goods sold budget
Answer:
B) schedule of cash receipts
Explanation:
Personally, I do not consider this option to be 100% correct since it is incomplete. The correct answer is: debt service budget.
When you are preparing a budgeted balance sheet, you might get some information about receiving cash by issuing notes payables, but notes payables can include other transactions besides cash loans. E.g. You might finance the purchase of equipment by issuing a promissory note. You could also refinance outstanding credits from suppliers with notes payables. And many others, and none is related to cash receipts.
If consumers start to believe they need a product, what is likely to happen? A. The demand becomes less elastic. B. The demand becomes more elastic. C. The supply decreases. D. The price decreases.
Answer:
A) The demand becomes less elastic.
Explanation: I took the quiz ^-^
Answer:
A. The demand becomes less elastic.
Explanation:
I just took the test on edge :)
Jim Company bought a machine for $36,000 with an estimated life of 5 years. The residual value of the machine is $6,000. This machine is expected to produce 120,000 units. In year 1, it produced 19,000 units, and in year 2, 38,000 units. Assuming the units-of-production method, calculate the first 2 years’ depreciation.
Answer:
Year 1 $4,750
Year 2 $9,500
Explanation:
Calculation for the first 2 years' depreciation
Since we were told that in year 1 it produced 19,000 units which means that the depreciation will be calculated as :
Year 1 Depreciation =19,000 units÷4 years
Year 1 Depreciation=$4,750
Calculation for Year 2 Depreciation
Since we were told that in year 2, 38,000 units was produce which means that the Depreciation will be calculated as :
Year 2 Depreciation =19,000 units÷2 years
Year 2 Depreciation =$9,500
Therefore Year 1 depreciation will be $4,750 while Year 2 depreciation will be $9,500.
5. Firm Q is about to engage in a transaction with the following cash flows over a three-year period: Year 0 Year 1 Year 2 Revenue Received $10,000 $12,500 $18,000 Deductible expenses (3,400 (5,000 (7,000 Nondeductible expenses (800 (1,100 -0- If the firm’s marginal tax rate over the three-year period is 35% and its discount rate is 10%, compute the net present value of the transaction.
Answer: $12,830.91
Explanation:
Year 0
Net Cash = Revenue - Expenses - Tax
Tax = (Revenue - Deductible expenses) * tax rate
= ( 10,000 - 3,400) * 0.35
= $2,310
Net Cash = 10,000 - 3,400 - 800 - 2,310
= $3,490
Present Value is the same as this is Year 0.
Year 1
Tax = (Revenue - Deductible expenses) * tax rate
= ( 12,500 - 5,000) * 0.35
= $2,625
Net Cash = 12,500 - 5,000 - 1,100 - 2,625
= $3,775
Present Value is;
= 3,775 / ( 1 + 10%)
= $3,431.82
Year 2
Tax = (Revenue - Deductible expenses) * tax rate
= ( 18,000 - 7,000) * 0.35
= $3,850
Net Cash = 18,000 - 7,000 - 0 - 3,850
= $7,150
Present Value is;
= 7,150 / ( 1 + 10%) ^ 2
= $5,909.09
Net Present Value = PV0 + PV1 + PV2
= 3,490 + 3,431.82 + 5,909.09
= $12,830.91
The president of Nash Company is considering a proposal by the factory manager for the purchase of a machine for $72,500. The useful life would be eight years, with no residual scrap value. The use of the machine will produce a positive annual cash flow of $14,000 a year for eight years. An annuity table shows that the present value of $1 received annually for eight years and discounted at 10% is 5.335. The net present value of the proposal, discounted at 10%, is:___________A. ($3,868).B. $2,190.C. $3,868.D. Zero.
Answer:
B. $2,190
Explanation:
Calculation for the net present value of the proposal
Using this formula
Net present value=(Annual cash flow×Discounted present value)- Machine purchase amount
Let plug in the formula
Net present value=($14,000 ×5.335)-$72,500
Net present value=$74,690-$72,500
Net present value= $2,190
Therefore the Net present value will be $2,190
On January 2, 20X1, Meister Company issues $200,000 of 6% bonds. Interest of $6,000 is payable semi-annually on June 30 and December 31. The bonds mature in 5 years. The market yield for bonds of similar risk and maturity is 7%. Utilizing the time value of money tables in your book, calculate the issue price of the bonds (round the result to whole dollars).
Answer:
January 2, 20x1, bonds issues at a discount
Dr Cash 191,600
Dr Discount on bonds payable 8,400
Cr Bonds payable 200,000
Explanation:
the bonds' current market value = PV of face value + PV of coupon payments
The bond has a 6 percent coupon rate, matures in 5 years (10 semiannual periods), and the market rate is 7%:
PV of face value = $1,000 / (1 + 3.5%)¹⁰ = $708.92
PV of coupon payments = 30 x 8.31661 (PV annuity factor, 3.5%, 10 periods) = $249.50
bond's market value = $958.42 ≈ $958 x 200 bonds = $191,600
1. Sid bought a new $1,500,000 seven-year class asset on August 2, 2020. On December 2, 2020, he purchased $900,000 of used five-year class assets. If Sid elects Sec. 179 and does not take additional first-year depreciation, what is the maximum cost recovery deduction for these purchases for 2020
Answer:
Total cost recovery deduction = 1251450
Explanation:
Given the seven-year class asset bought by the Sid = $1500000
On 2nd December the five-year class asset bought = $900000
Now we have to find the cost recovery deduction for 2020.
900000/(900000 + 1500000) = 37.5% Thus, use half-year convention and avoid mid quarter
1500000 – 1,000,000 (Sec 179 limit) = 500000
500000 x 14.29% = 71450
900,000 x 20% = 180,000
1,000,000 + 71450 + 180,000
Cost recovery for 7 year asset = 1,071450
Cost recovery 5 year asset = 180000
Total cost recovery deduction = 1251450
Peta Corporation and its subsidiary reported consolidated net income of $320,000 for the year ended December 31, 20X8. Peta owns 80 percent of the common shares of its subsidiary, acquired at book value. Noncontrolling interest was assigned income of $30,000 in the consolidated income statement for 20X8. What is the amount of separate operating income reported by Peta for the year
Answer: $170,000
Explanation:
Based on the information provided in the question, the amount of separate operating income that will be reported by Peta for the year goes thus:
The total income of subsidiary is calculated as:
= [30000/(100 - 80)] × 100
= (30000/20) × 100
= 1500 × 100
= 150000
Therefore, the operating income of Peta will be:
= Consolidated income - the total Subsidiary income
= $320000 - $150000
= $170000
The planning session had been long but productive. Sean had been quiet throughout the meeting. He spent his time texting messages to his son on his cell phone instead. The director finished by summarizing the plan to reschedule stock offerings. Everyone was preparing to leave when Sean raised his hand. "I don’t know if we covered this," he said, "but have we talked about rescheduling the stock offerings yet? I don’t think we should wait until the fall."
Explanation:
In this case, Sean committed an unprofessional attitude towards the meeting.
Work meetings are essential for the employees of an organization to develop a positive interpersonal relationship through communication and the possibility of integration and contribution to the goals of the company through ideas and points of view.
Therefore, it is essential that each employee has a professional position, avoid using the phone during sessions and see meetings as an opportunity to improve their communication and integration skills with other employees.
It is also important that the employee is involved and engaged to actively participate in the meeting.