Smith Company makes jars of homemade strawberry jam. Each jar is priced at $6.00 per unit. The costs of the ingredients to make each jar are $2.00. The containing jar itself costs $1.00. The company has monthly expenses of $2,000 for rent and insurance, $300 for heat and electricity, and $5,000 in monthly salary expenses. Last month the company sold 3,000 jars. What is the UNIT VARIABLE COST per jar

Answers

Answer 1

Answer:

Total variable cost= $1.97

Explanation:

Giving the following information:

The cost of the ingredients to make each jar is $2.00.

The containing jar itself costs $1.00.

$300 for heat and electricity

$5,000 in monthly salary expenses.

Generally, the salary expense and electricity are mixed costs (fixed and variable components). In this case, we will treat them as a full variable cost.

Unitary Electricity= 300 / 3,000= $0.1

Unitary direct labor= 5,000 / 3,000= $1.67

Now, the total variable cost:

Total variable cost= 2 + 1 + 0.1 + 1.67

Total variable cost= $1.97


Related Questions

The manufacturer wishes to set up a control chart at the final inspection station for a gas water heater. Defects in workmanship and visual quality features are checked in this inspection. For the past 22 working days, 176 wate rheaters were inspected and a total of 924 nonconformities were reported. a) What type of control chart would you reccommend here

Answers

Answer:

I will recommend a c chart

Explanation:

From the question, we have:

[tex]n= 22\ working\ days[/tex]

[tex]Inspection = 176[/tex]

[tex]Noncomformities = 924[/tex]

First, it should be noted that a chart is used for a count datatype (in other words, numerical values) and they are usually discrete (i.e. whole numbers).

Notice that all the given data are whole digits.

Also, the c chart is to be used when the number of noncomformities are known because through the c chart shows the process of the noncomformities over specific time.

To arrive at an accurate balance on a bank reconciliation statement, an error made by the bank in which the bank recorded the collection of a note and interest on behalf of another firm to the balance of the company's bank account should be

Answers

Answer:

Hi how are you doing today Jasmine

In what circumstances might you decide to use cash

Answers

Um maybe a taxi if u already figured out the answer sorry
When you want or need to know how much you are spending. Good luck

In the last example, we determined that Delta has a DTA of $35,000 related to the $100,000 NOL in 2015. In 2016, it decides to apply (use up) the DTA (carryforward). The company has book income of $200,000. No book/tax differences. So, Delta reports taxable income of $200,000 before considering the effect of its NOL. How much is I.T. payable for 2016

Answers

Answer:

The I.T. payable for 2016 is $35,000

Explanation:

Use the following formula to calculate the IT payable for 2016

IT payable = Tax on Income - DTA balance

Where

Tax on Income = Income x Tax rate = $200,000 x 35% = $70,000

DTA balance = $35,000

Placing values in the formula

IT payable = $70,000 - $35,000

IT payable = $35,000

Suppose Kevin and Maria are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Kevin chooses Right and Maria chooses Right, Kevin will receive a payoff of 7 and Maria will receive a payoff of 6.

Maria
Left Right
Kevin Left 4, 3 6, 4
Right 6, 7 7, 6

The only dominant strategy in this game is for ___________ to choose ______________ The outcome reflecting the unique Nash equilibrium in this game is as follows: Kevin chooses _______________ and Maria chooses _____________

Answers

Answer:

The only dominant strategy in this game is for Kelvin to choose right. The outcome reflecting the unique Nash equilibrium in this game is as follows: Kevin chooses right and Maria chooses left.

Explanation:

A dominant strategy can described as a strategy that makes a player better off no matter his or her opponent in a game chooses.

In the game in the question, when Kelvin plays left, it best for Maria to play right because 4 > 3. But when Kelvin plays right, Maria will play left because 7 > 6. Therefore, there is no particular strategy that will make Maria better off. This implies Maria has no dominant strategy.

On the other hand, when Maria plays left, Kelvin will play right because 6 > 4. And when Maria plays right, Kelvin will still also play right because 7 > 6. This implies that no matter what Maria plays, Kelvin will always be better off by playing right. Therefore, the dominant strategy for Kelvin is right.

The implication of the above analysis in that the only dominant strategy in this game is for Kelvin to choose Right.

The only dominant strategy in this game is for Kelvin to choose right. The outcome reflecting the unique Nash equilibrium in this game is as follows: Kevin chooses right and Maria chooses left.

using a scale: Three boys Isaac ,Alex and Ken are standing in different parts of a field .Isaac is 100 metres north of Alex and Ken is 120 metres east of Alex .Find the compass bearing of Ken from Isaac​

Answers

Answer:

156 m South East of Isaac

Explanation:

This is going to be solved by using Pythagoras theorem

We have the adjacent of the triangle as the Eastern distance between Ken and Alex, and that is 120 m. We have the opposite side to be the Northern distance between Isaac and Alex to be 100 m

If so, then we know that the hypotenuse side is the distance between Isaac and Ken. Using Pythagoras, we know that

100² + 120² = x²

x² = 10000 + 14400

x² = 24400

x =√24400

x = 156.2 m

The compass bearing of Ken, from Isaac then is,

Ken is 156.2 m South East of Isaac

Concord uses the periodic inventory system. For the current month, the beginning inventory consisted of 7400 units that cost $10.00 each. During the month, the company made two purchases: 3000 units at $11.00 each and 11900 units at $11.50 each. Concord also sold 12800 units during the month. Using the FIFO method, what is the ending inventory

Answers

Answer:

$109,250

Explanation:

FIFO assumes that the units to arrive first, will be sold first. Therefore, inventory valuation is based on later or recent prices.

Step 1 : units in ending inventory

Ending Inventory =  units available for sale - units sold

                             =  9,500

Step 2 : inventory value

Ending Inventory = 9,500 x $11.50 = $109,250

Bill Evans began Evans Distributors, a sporting goods distribution company, in January 20X1 and engaged in the transactions below. Assume Evans Distributors and its customers take advantage of all cash discounts.

DATE TRANSACTIONS 20X1
Jan.
1 Bill Evans started Evans Distributors with an investment of $55,750. He also invested personal business equipment worth $7,800.
2 Purchased merchandise for cash, $11,850, Check 100.
3 Sold merchandise on account to Rivera Corporation, $1,010, terms 2/10, n/30, Invoice 1001.
4 Purchased merchandise on account from Tsang Company, $2,420, terms 1/10, n/30, Invoice 1125.
5 Received and paid freight charges related to January 4 purchase of merchandise from Tsang Company, $220, Check 101.
10 Rivera Corporation returned merchandise purchased on January 3; issued credit memo #101 for $220.
11 Received payment in full from Rivera Corporation, after the return of January 10 and after the discount.
13 Paid amount due to Tsang Company for purchase of January 4, Check 102.
15 Recorded cash sales for the two-week period ended January 15 of $7,620.
15 Recorded sales on credit cards for the two-week period ended January 15, $1,315; the bank charges a 3 percent fee on all credit card sales.
15 Paid wages, $2,025, Check 103.
16 Purchased equipment (not for resale), $1,915, Check 104.
17 Paid freight for delivery of equipment purchased on January 16, $230, Check 105.
18 Purchased merchandise on account from Terri Manufacturing with a list price of $6,300, subject to a trade discount of 40 percent, terms 1/10, n/30, Invoice 2078.
20 Sold merchandise on account to Moloney Corp., $3,380, terms 1/10, n/30, Invoice 1002.
21 Purchased merchandise on account from Johnson Company, $2,480, terms 1/10, n/30, Invoice 3204; freight prepaid by Johnson Company and added to invoice, $150. (Total invoice amount, $2,630.00.)
27 Paid amount owed to Terri Manufacturing for purchase of January 18, Check 106.
28 Purchased merchandise from Fronke Sports Fabricators with a list price of $3,280, subject to trade discounts of 25 percent and 10 percent, terms n/30, Invoice 1888.
29 Received amount due from Moloney Corp. for the sale of January 20.
30 Paid amount due to Johnson Company for purchase of January 21, Check 107.
31 Recorded cash sales for the period from January 16–31, $8,225.
31 Recorded sales on the credit cards for the period from January 16–31, $2,520; the bank charges a 3 percent fee on all credit card sales.

Required:
Record the transactions in a general journal.

Answers

Answer:

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation $790

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges $39

Cr Sales Revenue $1,276

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

Jan. 17

Dr Equipment $230

Cr Cash $230

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

Cr Cash $2,630

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges $76

Cr Sales Revenue $2,444

Explanation:

Preparation of the Journal Entries

Jan. 1

Dr Cash $55,750

Dr Supplies $7,800

Cr Common Stock $63,550

($55,750+$7,800)

(To record the amount invested into the business along with supplies)

Jan. 2

Dr Purchases $11,850

Cr Cash $11,850

(To record the purchase of merchandise inventory by cash)

Jan. 3

Dr Accounts Receivable - Rivera Corporation, $ $1,010

Cr Sales Revenue $1,010

(To record the sale of merchandise on account)

Jan. 4

Dr Purchases $2,420

Cr Accounts Payable - Tsang Company $2,420

(To record the purchase of merchandise inventory on account)

Jan. 5

Dr Freight Expenses $220

Cr Cash $220

(To record the payment of freight charges)

Jan. 10

Dr Sales Returns and Allowances $220

Cr Accounts Receivable - Rivera Corporation $220

(To record the return of merchandise that was sold to Chu Corporation)

Jan. 11

Dr Cash $790

Cr Accounts Receivable - Chu Corporation ($1,010 - $220) $790

(To record the collection of amount from credit sales)

Jan. 13

Dr Accounts Payable - Tsang Company $2,420

Cr Cash $2,420

(To record the payment made to credit purchases)

Jan. 15

Dr Cash $7,620

Cr Sales Revenue $7,620

(To record the cash sales)

Jan. 15

Dr Accounts Receivable $1,315

Cr Bank Charges ($1,315*3/100) $39

Cr Sales Revenue $1,276

($1,315-$39)

(To record the sales made on credit card)

Jan. 16

Dr Equipment $1,915

Cr Cash $1,915

(To record the purchase of equipment on account)

Jan. 17

Dr Equipment $230

Cr Cash $230

(To record the payment of freight charges)

Jan. 18

Dr Purchases $6,300

Cr Accounts Payable - Terri Manufacturing $6,300

(To record the purchase of merchanise inventory on account)

Jan. 20

Dr Accounts Receivable - Moloney Corp. $3,380

Cr Sales Revenue $3,380

(To record the sales made on account)

Jan. 21

Dr Purchases $2,480

Dr Freight Expenses $150

Cr Accounts Payable - Johnson Company $2,630

($2,480+$150)

(To record the purchase of inventory on account)

Jan. 27

Dr Accounts Payable - Terri Manufacturing $6,300

Cr Cash $6,300

(To record the payment made to credit purchases)

Jan. 29

Dr Cash $3,380

Accounts Receivable - Moloney $3,380

(To record the amount received from credit sales)

Jan. 30

Dr Accounts Payable - Johnson Company $2,630

($2,480+$150)

Cr Cash $2,630

(To record the payment made to credit purchases)

Jan. 31

Dr Cash $8,225

Sales Revenue $8,225

(To record the cash sales)

Jan. 31

Dr Accounts Receivable $2,520

Cr Bank Charges ($2,520*3/100) $76

Cr Sales Revenue $2,444

($2,520-$76)

(To record the sales made on credit card)

If a bank has $500 million of checkable deposits, a required reserve ratio of 15%, and it holds $126 million reserves, then the maximum deposit outflow it can sustain without running into reserve deficiency is Group of answer choices $20 million $60 million $71 million $51 million

Answers

Answer: $51 million

Explanation:

Firstly, we need to calculate the required reserve which will be:

= $500 × 15%

= $500 million × 0.15

= $75 million

Then, the excess reserve will be:

= $126 million - $75 million

= $51 million

Therefore, the maximum deposit outflow it can sustain without running into reserve deficiency is $51 million.

Shannon, who has a job and no dependents, has two credit cards she uses for food and entertainment. All card balances are close to the limit. What could be the best action for Shannon to take next?

Request an extension of credit to her credit card company.
Pay off all her balances within the payment cycle.
Apply for a new credit card to increase her credit limit.
Cancel all her credit cards.

Answers

Pay off all her balances is my answer for your question.

a. On July 1, 2018, the Churab Company paid $200,000 in return for a 5% interest (20,000 shares) in the UNCY Corporation’s common stock.
b. On December 21, 2018, UNCY paid all its stockholders a cash dividend of $1.00 a share.
c. On December 31, 2018, UNCY’s common stock had a market value of $15 a share.
d. On November 30, 2019, UNCY issued 100,000 shares of preferred stock that would be convertible, at the option of its stockholders, into 60,000 shares of common stock no earlier than 2022.
d. On December 31, 2019, UNCY’s common stock had a market value of $12 a share.
e. On February 1, 2020, Churab sold all its shares of its UNCY stock for $19 a share.

Required:
Provide all the journal entries that the Churab Company would make for the investment activity described above.

Answers

Answer:

Churab Company

Journal Entries

a. On July 1, 2018

Debit Investment in UNCY Corporation $200,000

Credit Cash $200,000

To record the purchase of 5% interest (20,000 shares) in the UNCY Corporation’s common stock.

b. On December 21, 2018

Debit Cash $20,000

Credit Dividend Revenue $20,000

To record the receipt of dividend from UNCY Corporation at $1.00 a share.

c. On December 31, 2018

Debit Investment in UNCY Corporation $100,000

Credit Unrealized Gain from Investment $100,000

To record the unrealized gain from investment when the market value rose to $15 a share.

d. On December 31, 2019

Debit Unrealized Loss from Investment $60,000

Credit Investment in UNCY $60,000

To record the unrealized loss from investment when the market value fell to $12 a share.

e. On February 1, 2020

Debit Cash $380,000

Credit Investment in UNCY Corporation $240,000

Credit Realized Gain from Investment $140,000

To record the sale of the shares of UNCY stock for $19 per share.

Explanation:

a) Data and Analysis:

a. On July 1, 2018 Investment in UNCY Corporation $200,000 Cash $200,000 5% interest (20,000 shares) in the UNCY Corporation’s common stock.

b. On December 21, 2018, Cash $20,000 Dividend Revenue $20,000 $1.00 a share.

c. On December 31, 2018, Investment in UNCY Corporation $100,000 Unrealized Gain from Investment $100,000 (a market value of $15 a share).

d. On November 30, 2019, UNCY issued 100,000 shares of preferred stock that would be convertible, at the option of its stockholders, into 60,000 shares of common stock no earlier than 2022.

d. On December 31, 2019, Unrealized Loss from Investment $60,000 Investment in UNCY $60,000 a market value of $12 a share.

e. On February 1, 2020, Cash $380,000 Investment in UNCY Corporation $240,000 Realized Gain from Investment $140,000

Example: (0) sweeps
Rising from the sea like a goddess, the island nation of Cyprus ......... (sweep) you off
your feet with ancient monuments. Cyprus has the distinction of ........ (be) the birthplace
of Aphrodite --Goddess of Love and Beauty. With such a legendary background it is
hardly ......... (surprise) that Cyprus ....3.... (develop) into a ....4.... (tour) destination. It
........ (bless) with natural beauty that ranges from golden beaches to ......... (roll) hills.
To walk through its old streets is ....7.... (step) backwards in time. Old houses with
ornate balconies peep from weather-beaten walls, and craftsmen in small workshops
practise trades, which have not ....8.... (change) for centuries.​

Answers

Answer:

(0)Sweeps, (1)being, (2)surprising, (3)has developed, (4)tourist, (5)is blessed, (6)rolling, (7)to step, (8)changed.

Explanation:

The use of the correct form of the words refers to using or changing the given words in such a way that they correspond to the noun(s) or subjects in the sentence. This will also enable the correct construction of the sentences in a perfect and corresponding form of tenses.

The verbs given in parenthesis in the given passage will be changed accordingly as given below-

Rising from the sea like a goddess, the island nation of Cyprus sweeps you off your feet with ancient monuments. Cyprus has the distinction of being the birthplace of Aphrodite-- Goddess of Love and beauty. With such a legendary background, it is hardly surprising that Cyprus has developed into a tourist destination. It is blessed with natural beauty that ranges from golden beaches to rolling hills.

To walk through its old streets is to step backwards in time. Old houses with ornate balconies peep from weather-beaten walls, and craftsmen in small workshops practice trades, which have not changed for centuries.

Shondura Inc. focuses on both local responsiveness and standardization in global business. The company typically begins with a strong emphasis in a single strategy and then works to minimize the downsides associated with that strategy as much as possible as they begin to implement the second strategy. Which of the following is best exemplified in this case?

a. A multidomestic strategy
b. A global strategy
c. An arbitrage strategy
d. A transnational strategy

Answers

Answer:

d. A transnational strategy

Explanation:

A transnational strategy refers to a set of plans and actions that are decided by the business to perform them beyond domestic borders. The plans are set to perform the actions across the international borders. By applying this set of strategy, the connection is established among the nations dealing with the same operation.  

In the give case, transnational strategy has been applied by Shondura Inc.

Selected sales and operating data for three divisions of different structural engineering firms are given as follows: Division A Division B Division C Sales $ 5,100,000 $ 9,100,000 $ 8,200,000 Average operating assets $ 1,020,000 $ 2,275,000 $ 1,640,000 Net operating income $ 214,200 $ 746,200 $ 118,900 Minimum required rate of return 17.00 % 32.80 % 14.00 % Required: 1. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover. 2. Compute the residual income (loss) for each division. 3. Assume that each division is presented with an investment opportunity that would yield a 19% rate of return. a. If performance is being measured by ROI, which division or divisions will probably accept or reject the opportunity? b. If performance is being measured by residual income, which division or divisions will probably accept or reject the opportunity

Answers

Answer:

1. Return on Investment = Net operating income (NOI)/Average operating assets (AOA) * 100

Division A = 21%

Division B = 32.8%

Division C = 7.25%

2. Residual income (loss) = Operating Income - (Operating Assets x Target Rate of Return)

Division A = $40,800

Division B = $0

Division C = ($110,700)

3-a. If performance is being measured by ROI, Divisions A and C will accept the opportunity, while Division B will reject it because the actual rate of return of 19% is less than the minimum required rate of return of 32.8%.

3-b. Divisions A and C will accept the opportunity, while Division B will reject it.

Explanation:

a) Data and Calculations:

Selected sales and operating data for three divisions of different structural engineering firms are given as follows:

                                                 Division A       Division B       Division C

Sales                                      $ 5,100,000    $ 9,100,000   $ 8,200,000

Average operating assets    $ 1,020,000   $ 2,275,000    $ 1,640,000

Net operating income              $ 214,200      $ 746,200        $ 118,900

Minimum required rate of return 17.00 %          32.80 %           14.00 %

1. Return on Investment = Net operating income (NOI)/Average operating assets (AOA) * 100

=                                                      21%                  32.8%            7.25%

Division A = 21% ($214,200/$1,020,000 * 100)

Division B = 32.8% ($746,200/$2,275,000 * 100)

Division C = 7.25% ( $118,900/$1,640,000 * 100)

2. Residual income (loss) = Operating Income - (Operating Assets x Target Rate of Return)

Division A = $40,800 ($214,200 - ($1,020,000 * 17%) )

Division B = $0 ($746,200 - ($2,275,000 * 32.8%))

Division C =($110,700) ( $118,900 - ($1,640,000 * 14%))

Investment opportunity that would yield a 19% rate of return:

                                                Division A       Division B       Division C

Sales                                      $ 5,100,000    $ 9,100,000   $ 8,200,000

Average operating assets    $ 1,020,000   $ 2,275,000    $ 1,640,000

Net operating income (19%)    $ 193,800      $ 432,250        $ 311,600

Minimum required rate of return 17.00 %          32.80 %           14.00 %

3-a. If performance is being measured by ROI, Divisions A and C will accept the opportunity, while Division B will reject it because the actual rate of return of 19% is less than the minimum required rate of return of 32.8%.

3-b. Divisions A and C will accept the opportunity, while Division B will reject it.

Residual income (loss) = Operating Income - (Operating Assets x Target Rate of Return)

Division A = $20,400 ($193,800 -  ($1,020,000 * 17%))

Division B = ($313,950) ($432,250 - ($2,275,000 * 32.8%))

Division C = $82,600 ($311,600 - ($1,640,000 * 14%))

​(IRR of an uneven cash flow​ stream) Microwave Oven​ Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of ​$ million​ (​ = ​$ ​million), and will produce cash flows of ​$ million at the end of year​ 1, ​$ million at the end of year​ 2, and ​$ million at the end of years 3 through 5. What is the internal rate of return on this new​ plant?

Answers

Answer:

Explanation:

Here is the complete question used in answering this question

(IRR of uneven​ cash-flow stream​) Microwave Oven​ Programming, Inc. is considering the construction of a new plant. The plant will have an initial cash outlay of ​$12 ​million, and will produce cash flows of ​$4 million at the end of year​ 1, $ 5 million at the end of year​ 2, and ​$3 million at the end of years 3 through 5. What is the internal rate of return on this new​ plant? The internal rate of return on this new plant is __​%. ​(Round to two decimal​places.)

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

Cash flow in year 0 = $-12 ​million

Cash flow in year 1 = $4 ​million

Cash flow in year 2 = $5 ​million

Cash flow in year 3 = $3 ​million

Cash flow in year 4 = $3 ​million

Cash flow in year 5 = $3 ​million

IRR = 16.66%

To find the IRR using a financial calculator:

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

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

To be effective, an item used as money should serve several functions. Select the statement that best describes money's function as a standard of deferred payment.
a. That a currency can be used to express the value goods and services that are both relatively expensive and goods and services that are relatively cheap.
b. That the purchasing power of a currency is relatively stable over time.
c. That people are willing to accept a currency in the future as compensation for debts accrued earlier.
d. That a currency is widely accepted in exchange for goods and services and therefore makes economic transactions easier.

Answers

Answer:

c. That people are willing to accept a currency in the future as compensation for debts accrued earlier.

Explanation:

Money defines the legal tender i.e. offically issued and that involved the notes, currencies, coins that are circulated via medium of exchange that govern by the government.

So here the people would to accept the  currency in the future that become compensation for the debt that accrued earlier

Hence, the option c is correct

Prepare the journal entries to record the following transactions on Kwang Company's books using a perpetual inventory system.

a. On March 2, Kwang Company sold $900,000 of merchandise to Sensat Company, terms 2/10, n/30. The cost of the merchandise sold was $620,000.
b. On March 6, Sensat Company returned $90,000 of the merchandise purchased on March 2. The cost of the returned merchandise was $62,000.
c. On March 12, Kwang Company received the balance due from Sensat Company. From the information in BE5-4, prepare the journal entries to record these transactions on Sensat Company's books under a perpetual inventory system.

Answers

Answer:

Solution BE5-4

                              Journal Entries

      Date      Particulars                            Debit         Credit

(a)  02-Mar   Accounts Receivable      $900,000

                             Sales Revenue                           $900,000

     02-Mar    Cost of goods sold         $620,000

                              Inventory                                    $620,000

(b)  06-Mar    Sales Return & allowances  $90,000

                             Accounts receivable                  $90,000

     06-Mar      Inventory                         $62,000

                             Cost of goods sold                      $62,000

(c)   12-Mar      Cash                                 $793,800

                       Sales Discount                 $16,200

                       ($810,000*2%)  

                              Accounts receivable                   $810,000

                              ($900000- $90000)

Solution BE5-5:

                              Journal Entries

       Date     Particulars            Debit            Credit

(a)  02-Mar   Inventory          $900,000

                          Accounts payable              $900,000

(b)  06-Mar Accounts payable  $90,000

                           Inventory                         $90,000

(c)   12-Mar  Accounts Payable $810,000

                   ($900000- $90000)

                             Inventory ($810000*2%)   $16,200

                             Cash                                   $793,800

what is the cost driver for rent expense? ​

Answers

ahhhhh please help me thanks

A year-end review of accounts receivable and estimated uncollectible percentages revealed the following: Category Accounts Receivable Uncollectible percentages 1-30 days $40,000 1.5% 31-60 days $10,000 8.0% 61-90 days $6,000 15.0% The beginning balance of Allowance for Doubtful Accounts is $400 (credit). Based on this information, the bad debt expense for the year is:

Answers

Answer:

$1,900

Explanation:

Calculation to determine what the bad debt expense for the year is:

Accounts Receivable Uncollectible percentages 1-30 days $40,000* 1.5% =$600

31-60 days $10,000 *8.0% =$800

61-90 days $6,000 *15.0% =$900

Total $2,300

Bad debt expense =$2,300-400

Bad debt expense =$1,900

Therefore Based on this information, the bad debt expense for the year is:$1,900

Jahar is very friendly and loves interacting with customers. He has a lot of knowledge about loans and the risks associated with them. In which Finance career does Jahar work?

Business Finance Management

Financial Investment Planning

Insurance Services

Banking and Related Services

Answers

Answer:

banking and related services.

Banking and related services, loans are very commonly associated with banks.

Jonah tells his friend Derek that he would like to go parasailing. Derek is very enthusiastic and suggests that they try an outfit called Wind Beneath My Wings because he has heard good things about it. Derek offers to arrange everything. He makes a reservation, puts the $600 fee on his credit card, and picks Jonah up to drive him to the Wings location. What a friend! But the day does not turn out as Jonah had hoped. While he is soaring up in the air over the Pacific Ocean, his sail springs a leak, he goes plummeting into the sea and breaks both legs. During his recuperation in the hospital, he learns that Wings is unlicensed. He also sees an ad for Wings offering parasailing for only $350. Derek is listed in the ad as one of the company's owners.

Required:
a. Does an agency relationship exist between Derek and Jonah?
b. Discuss what duties the agent had to the principal in the above example. Did the agent fulfill his duties? Why or Why not?

Answers

Answer:

- Derek is an agent of Jonah

- Derek failed in his fiduciary duties to his principal

Explanation:

An a agent is someone that is appointed by a principal to take care of their interests. The agent's loyalty is to only his principal and he should not manipulate the relationship for personal gain.

In the given scenario Jonah appointed Derek to arrange for parasailing activity. So he is an agent to Jonah in this respect.

However Derek chooses an outfit called Wind Beneath My Wings where he is an owner, he put aside $600 instead of $350 for the reservation, and the company is unlicensed.

All these are violations of Derek's fiduciary duty. He put Jonah at risk for his own personal gain.

A project manager for a not-for-profit organization is completing a new retail outlet project but is unable to get the planned amount of time from key resources to complete some of the critical path tasks. The key resources are focused on completing their day-to-day tasks, and the project manager does not control the work assignments for these people. This scenario is an example of what type of organization

Answers

Incomplete question. The options read;

A. Balanced matrix

B. Tight matrix

C. Functional

D. Project coordinator

Answer:

C. Functional

Explanation:

Remember, when we say an organization has a functional structure it implies that the line of authority is grouped based on the functions carried out by employees.

For example, we observe that in this scenario, the project manager could not control the work assignments of other employees because they had been assigned such tasks based on their specialization.

Nancy Company has a balance of $15,000 in accounts receivable on December 31, of which $1,500 is more than 30 days overdue. The company has a beginning debit balance of $45 in the Allowance for Doubtful Accounts. They estimate the uncollectible accounts to be 1% of current accounts and 10% of accounts over thirty days. The adjusting entry on December 31 will include: A) $285 credit to Allowance for Doubtful Accounts B) $240 debit to Bad Debts Expense C) $195 debit to Bad Debts Expense D) $285 Debit to Allowance for Doubtful Accounts E) $330 credit to Allowance for Doubtful Accounts

Answers

Answer:

E. $330 credit to allowance for doubtful accounts

Explanation:

With regards to the above, the adjusting entry on December 31st is computed as;

= [($15,000 - $1,500)× 0.1)]

= $135

1% of the balance less than 30days

= $1,500 × 0.1 = $150

Total = $45 + $135 + $150 = $330

Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $2,200,000 has an estimated residual value of $400,000 and an estimated useful life of 20 years. Determine the following: (a) The depreciable cost $fill in the blank 1 (b) The straight-line rate fill in the blank 2 % (c) The annual straight-line depreciation $fill in the blank 3

Answers

Answer:

a)

Depreciable Cost = $ 1800000

b)

Straight Line Depreciation Rate = 5%

c)

Depreciation expense per year = $90000

Explanation:

a)

The depreciable cost is the cost that qualifies for depreciation. It is calculated as,

Depreciable Cost = Cost - Salvage Value

Depreciable Cost = 2200000 - 400000

Depreciable Cost = $ 1800000

b)

The straight line depreciation method charges a constant depreciation expense every period. The rate of straight line depreciation can be calculated as follows,

Straight Line Depreciation Rate = Depreciable cost percentage / Estimated useful life

Straight Line Depreciation Rate =  100% / 20

Straight Line Depreciation Rate = 5%

c)

The annual straight line depreciation expense can be calculated as follows,

Depreciation expense per year = Depreciable cost * Straight line depreciation rate

Depreciation expense per year = 1800000 * 0.05

Depreciation expense per year = $90000

The chapter explained why exporters cheer when their home currency depreciates. At the same time, domestic consumers find that they pay higher prices, so they should be disappointed when the currency becomes weaker. Why do the exporters usually win out, so that governments often seem to welcome depreciations while trying to avoid appreciations? (Hint: Think about the analogy with protective tariffs.)

Answers

Answer:

Exporters usually win out when their home currency depreciates because it increases demand for the exported products.

Explanation:

The foreign consumers find that the prices of the imports are now reduced because of the depreciation of the exporting nation's currency.  The impact is reduced cost of importation for the importing consumers.  When prices fall, demand tends to increase relative to supply.  For any government that wants to encourage exports for earning foreign exchange, it will always work hard to avoid currency appreciation so that consumers from the importing nation are not discouraged or made to develop alternatives.

Exporters usually win out when their home currency depreciates because the depreciation increases the demand of the exported products.

When the prices fall, demand of the products and goods tend to increase. When the home currency depreciates, this will leads to higher demand of goods from other countries so the exporters produce and exports more goods and earn more money.

The government also wants to encourage exports in order to earn foreign exchange so that's why the exporters as well as the government cheers when their home currency depreciates.

Learn more about currency depreciation: https://brainly.com/question/16051120

Learn more: https://brainly.com/question/22985544

There is an investment with the discount rate of 6 %. What should be the present value of the investment if we want to get a net cash flow of $17500;
a) After 1 year
b) After 2 years

Answers

Answer:

a. $16,509.434

b. $15,574.94

Explanation:

The computation of the present value in each case is as followS:

As we know that

Present Value = Future Value ÷ (1+ rate of interest)^number of years

a. AFter one year

= $17,500 ÷ (1 + 0.06)^1

= $16,509.434

b. After 2 years

= $17,500 ÷ (1 + 0.06)^2

= $17,500 ÷ 1.1236

= $15,574.94

Hence, the present value after one year and 2 years is $16,509.434 and $15,574.94 respectively

Which of the following is not one of the drivers of supply chain performance? A. facilities B. procedures C. information D. inventory

Answers

B. Procedures is not one of the drivers of supply chain performance.

The four main drivers of supply chain performance are facilities, inventory, information, and transportation. These drivers help to determine how responsive and efficient the supply chain is.

Good facilities or locations ensure that the goods produced are in good condition till they are requested by consumers. The quality of the goods is also preserved. Efficient transportation ensures that goods get to the customers on time. Inventory which involves stock-taking helps salespeople to know what goods are available and readily provide customers with the needed information and stock. Information is also an essential factor. Knowledge of factors affecting pricing, push versus pull, forecasting, etc., helps decision-makers to know what is needed to improve the quality of goods and their delivery.

Conclusively, Procedures are not one of the drivers of supply chain performance.

Learn more about supply chain performance here:

https://brainly.com/question/13441219

Indicate which activities of Stockton Corporation violated the rights of a stockholder who owned one share of common stock.

a. Paid the stockholder a smaller dividend per share than another common stockholder.
b. Rejected the stockholder's request to be put in charge of its retail store.
c. Rejected the stockholder's sale of stock on an organized exchange.
d. Rejected the stockholder's request to vote via proxy because she was home sick.
e. In liquidation, paid the common shareholder after preferred stockholders were already paid.

Answers

Answer:

a

c

d

Explanation:

A shareholder is a person that buys stocks of a publicly traded company. they are referred to as owners and are entitled to dividends. Dividends are a proportion of income

All common shareholders earn the same amount of dividends

prefferred shareholders are given higher preference that common shareholders

William is preparing to file his tax return. Which two items are necessary to complete his tax return?
W-2 form from an employer
driver's license
receipts for expenses taken as deductions or credits
copy of a birth certificate
voter registration card
employment verification​

Answers

Answer:

W-2 form from an employer, Receipts for expenses taken as deductions or credits

Explanation:

Got it right on Plato

Discuss 5 factors to considerwhen choosing the location of afirm​

Answers

Answer:

please give me brainlist and follow

Explanation:

Factors to Consider When Choosing a Business Location

Style of Operation. Is your business going to be formal or elegant? ..

Demographics. When considering demographics, you should think about two important angles. ...

Foot Traffic. For many businesses, foot traffic is very important. ...

Parking and Accessibility. ...

Competition. ...

Site's Image and History.

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