The City of Oxbow General Fund has the following net resources at year-end:
$250,000 unexpended proceeds of a state grand required by law to be used for health education.
$10,000 of prepaid insurance.
$600,000 rainy day fund approved by city council for use under specified circumstances.
$200,000 budget stabilization fund to be used in the event of revenue shortfall.
$275,000 provided for contractual obligations for capital projects.
$26,000 unexpended proceeds of a tax required by law to be used for emergency 911 services.
$1,622,000 total fund balance.
Prepare the fund balance section of the balance sheet.
Answer:
$1,622,000
Explanation:
Preparation of the fund balance section of the balance sheet.
Partial Balance Sheet-General Fund
As of December 31
FUND BALANCES SECTION OF THE BALANCE SHEET
Nonspendable:
Prepaid Insurance $10,000
Restricted:
Intergovernmental Grants $250,000
Emergency services $26,000
Committed:
Rainy Day Fund $600,000
Capital Projects $275,000
Assigned:
Unassigned $461,000
TOTAL fund balance $1,622,000
Therefore the fund balance section of the balance sheet will be $1,622,000
We said that tourism helps build infrastructure. What is infrastructure referring to?
a
The economy/money
b
Interest in the destination
c
Reputation
d
Roads, buildings, and hotels
Answer:
D
Explanation:
Although it could be A, Infrastructure relates more directly to buildings and services that support the economy.
Sunrise, Inc., has no debt outstanding and a total market value of $245,000. Earnings before interest and taxes, EBIT, are projected to be $19,000 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 25 percent higher. If there is a recession, then EBIT will be 40 percent lower. The company is considering a $58,800 debt issue with an interest rate of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 5,000 shares outstanding. The company has a tax rate of 21 percent and the stock price remains constant.
a-1. Calculate earnings per share, EPS, under each of the three economic scenarios before any debt is issued. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
a-2. Calculate the percentage changes in EPS when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
b-1. Calculate earnings per share, EPS, under each of the three economic scenarios assuming the company goes through with recapitalization. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
b-2. Given the recapitalization, calculate the percentage changes in EPS when the economy expands or enters a recession. (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)
Answer:
hi
Explanation:
(1) Given access to the same risk-free asset and the same investment opportunity set of risky assets, an investor's degree of risk aversion will determine his or her ______. A. optimal risky portfolio B. risk-free rate C. optimal mix of the risk-free asset and risky asset D. capital allocation line
Answer: C. optimal mix of the risk-free asset and risky asset
Explanation:
Risk aversion simply has to do with how people curtail risk and this is done through the preference for the outcomes that have low uncertainty than those that have high uncertainty.
An investor's degree of risk aversion will determine his or her optimal mix of the risk-free asset and risky asset even if they've access to the same risk-free asset and also the same investment opportunity set of risky assets.
The controller of Hendershot Corporation estimates the amount of materials handling overhead cost that should be allocated to the company's two products using the data that are given below:Wall Mirrors Specialty WindowsTotal expected units produced 12,900 1,500Total expected material moves 1,290 1,400Expected direct labor-hours per unit 9 12The total materials handling cost for the year is expected to be $16,754.50.If the materials handling cost is allocated on the basis of direct labor-hours, the total materials handling cost allocated to the wall mirrors is closest to: (Round your intermediate calculations to 4 decimal places.)Multiple Choice
Answer:
$14,506
Explanation:
Calculation to determine what the total materials handling cost allocated to the wall mirrors is closest to:
First step is to calculate Material handling cost per labor hour
Material handling cost per labor hour = $16,754.50 / [(12,900 * 9) + (1,500 * 12)]
Material handling cost per labor hour =$16,754.50/(116,100+18,000)
Material handling cost per labor hour = $16,754.50/134,100
Material handling cost per labor hour =0.124940
Now let calculate the Materials handling cost allocated to wall mirrors
Materials handling cost allocated to wall mirrors = 12,900 *9*0.124940
Materials handling cost allocated to wall mirrors = $14,506
Therefore the total materials handling cost allocated to the wall mirrors is closest to:$14,506
2
Type the correct answer in the box. Spell all words correctly.
Why are we forced to make choices in day-to-day life?
resources.
We are forced to make choices in day-to-day life because Recourses
Answer:
help us stay alive and live
Explanation:
According to Goldratt: Group of answer choices Two activities scheduled to be carried out sequentially and using the same scarce resource benefit from having the same project manager. Two activities scheduled to be carried out in parallel and using the same scarce resource are independent. Two activities scheduled to be carried out in parallel and using the same scarce resource are not independent. Two activities scheduled to be carried out sequentially and using the same scarce resource require different project managers.
Answer:
Two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
Eliyahu Moshe Goldratt is a business guru from Israel and he's famously known for his works in business and economics such as Optimized Production Technique, Drum-Buffer-Rope, The Theory of Constraints, The Thinking Processes, Critical Chain Project Management, etc.
According to Goldratt, two activities scheduled to be carried out in parallel and using the same scarce resource are independent.
Kinnear Plastics manufactures various components for the aircraft and marine industry. Kinnear buys plastic from two vendors: Tappan Corporation and Hill Enterprises. Kinnear chooses the vendor based on price. Once the plastic is received, it is inspected to ensure that it is suitable for production. Plastic that is deemed unsuitable is disposed of. The controller at Kinnear collected the following information on purchases for the past year: Tappan Hill Total purchases (tons) 4,000 6,500 Plastic discarded 100 520 The purchasing manager has just received bids on an order for 310 tons of plastic from both Tappan and Hill. Tappan bid $1,950 and Hill bid $1,886 per ton.
Required:
a. Assume that the average quality, measured by the amounts discarded from the two companies, will continue as in the past. What is the effective cost per ton for both Tappan and Hill?
b. Assume all else remains the same. What bid by Tappan would make Kinnear indifferent between buying from Tappan or Hill?
Answer:
A. Effective cost is $2000 for tappan, $2050 for hill
B. $1998.75
Explanation:
For tappan
Total tons purchased = 4000
Plastic discarded = 100
Percentage of discarded = 100/4000 x 100 = 2.5%
Percentage of accepted( not discarded) = 100 - 2.5% = 97.5%
Bid price = $1950
Effective cost of Tappan = 1950/97.5% = 1950/0.975 = $2000
For Hill
Total tons purchased = 6500
Plastic discarded = 520
% discarded = 520/6500*100 = 8%
% accepted = 100%-8% = 92%
Bid price = $1886
Effective cost for Hill = 1886/92% = $2050
2. Bid of Tappan/97.5% = $2050
We cross multiply
Bid of Tappan = 2050 x 0.975
= $1998.75
This bid by Tappan would make kinnear indifferent between buying from both
i also solve this in a table format as seen in the atttachment
Which of the four Ps does the question of discounts apply to?
Answer:
product, price, place, and promotion.
Suppose that Healdsburg enters into a sales contract with an auto manufacturer on January 1, 2021, to provide tires that cost Healdsburg $18 million to produce. The buyer offers Healdsburg $6 million in cash and agrees to take over only the principal payment on Healdsburg's 6.55% debt notes. Assume that the going market interest is 7% at the time. What would Healdsburg's gross profit be on the sale
Answer: hello your question is incomplete attached below is the complete question
answer : $9,836,000.
Explanation:
Revenue of Healdsburg will be calculated as
= cash in hand + PV of the 6.55% note principal
= 6 million + ( 25million * 0.87344 ) = $27,836,000
hence Gross profit made by Healdsburg = 27,836,000 - 18,000,000 = $9,836,000.
given that ; n = 2 , interest ( i ) = 7%
In a Lindahl equilibrium: Group of answer choices no one could be made better off by reducing his or her tax burden, all things equal. most but not all individuals are happy to pay their taxes to receive the benefits. the government must subsidize the project by using nontax financing schemes. everyone is willing to pay the taxes to receive the benefits.
Answer:
everyone is willing to pay the taxes to receive the benefits.
Explanation:
Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.
The different types of tax include the following;
1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.
2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.
3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.
A Lindahl equilibrium can be defined as an economic state in which there is a production of an optimal quantity of public goods and the cost of these goods is shared in a fair manner among everybody. It was developed by Erik Lindahl.
In a Lindahl equilibrium everyone is willing to pay the taxes to receive the benefits.
Esquire Comic Book Company had income before tax of $1,350,000 in 2021 before considering the following material items:
1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $375,000. The division generated before-tax income from operations from the beginning of the year through disposal of $570,000.
2. The company incurred restructuring costs of $90,000 during the year.
Required:
Prepare a 2016 income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 40%. Ignore EPS disclosures.
Answer:
Net income = $873,000
Explanation:
The 2016 income statement for Esquire is seen below;
Esquire Comic Book Company
Income statement for the year ended, 2016
Income from continuing operations
Operating income
$1,350,000
Restructuring costs
($90,000)
Income from continuing operations
$1,260,000
Income(loss) from discontinued operation
Loss on disposal of discontinued operation
($375,000)
Add: Income from discontinued operation
$570,000
Net income(loss) from discontinued operation
$195,000
Income before tax = $1,260,000 + $195,000 = $1,455,000
Income tax expense = $1,455,000 × 40% = $582,000
Net income = $1,455,000 - $582,000 = $873,000
A fee charged by a mutual fund company when selling a mutual fund is
Answer: back end load
Explanation:
It just is
A fee charged by a mutual fund company when selling a mutual fund is the shareholder fee.
What is a mutual fund?A mutual fund is a professionally managed investment vehicle that pools money from a number of individuals to buy securities.
The word is commonly used in the United States, Canada, and India, with similar structures such as the SICAV in Europe and the open-ended investment company in the United Kingdom.
Any costs a person pay when buying or selling fund shares are known as shareholder fees. These are usually one-time expenses.
They include operating charges for the mutual fund, such as investment advising fees.
Therefore, a shareholder fee is charged by the mutual fund company when selling a mutual fund.
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Data for January for Bondi Corporation and its two major business segments, North and South, appear below:Sales revenues, North $ 759,000Variable expenses, North $ 440,500Traceable fixed expenses, North $ 90,900Sales revenues, South $ 586,800Variable expenses, South $ 334,900Traceable fixed expenses, South $ 76,000In addition, common fixed expenses totaled $206,000 and were allocated as follows: $107,000 to the North business segment and $99,000 to the South business segment.A properly constructed segmented income statement in a contribution format would show that the segment margin of the North business segment is:
Answer and Explanation:
The computation of the segment margin of the North business segment is shown below:
Particulars Total North South
Sales $1,345,800 $759,000 $586,800
Less:
Variable cost -$775,400 $440,500 $334,900
Contribution margin $570,400 $318,500 $251,900
Less:
Fixed cost $166,900 $90,900 $76,000
Segment margin $403500 $227600 $175900
Less: common fixed ex $206,000
Net operating income $197,500
Why would it be economically efficient to require a natural monopoly LOADING... to charge a price equal to marginal cost? A. Economic efficiency requires natural monopolies to earn zero economic profits. B. Economic efficiency requires the total benefit of producing a good to equal the total cost of producing it. C. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the average cost of producing it. D. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers greater than the additional cost of producing it. E. Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the additional cost of producing it.
Answer:
Option C is the correct Option.
Explanation:
First of all, let me clear it to you that, it is a multiple choice question with 5 options in it.
Question Statement:
Why would it be economically efficient to require a natural monopoly to charge a price equal to marginal cost?
Solution:
The correct answer to this question is option C .
Option C = Economic efficiency requires the last unit of a good produced to provide an additional benefit to consumers equal to the average cost of producing it
Reasoning:
The marginal value of the last unit of output delivered to consumers is equal to the marginal cost of production. The overall welfare surplus is maximized, including both user and producer surpluses. There is no loss of dead weight.
If the coupon interest rate remains constant from the time of issue until the bond matures, then the bond is called afixed-rate bond. The contract that describes the terms of a borrowing arrangement between a firm that sells a bond issue and the investors who purchase the bonds is called the . When are issuers more likely to call an outstanding bond issue
Answer:
If the coupon interest rate remains constant from the time of issue until the bond matures, then the bond is called a FIXED-RATE bond.
A fixed rate bond will see its coupon interest rate remain the same during the entire duration of the bond.
The contract that describes the terms of a borrowing arrangement between a firm that sells a bond issue and the investors who purchase the bonds is called the INDENTURE.
An indenture in the context of a bond is a legal agreement that states the terms that the investors and the bond issuer will abide by which makes it a borrowing arrangement.
When are issuers more likely to call an outstanding bond issue?
a. When interest rates are lower than they were when the bonds were issued.
When interest rates are lower, issuers are more likely to call a bond so that they can be able to reissue another bond at a lower interest which would then reduce their interest payments.
what are the negative impacts of a cooperative
Answer:
Lack of Motivation:
Due to absence of link between efforts and material rewards, the members may lack the zest to serve the organisation to the best of their abilities. The results of such negatives are bound to show up in the functioning of the cooperative society.
Explanation:
please give me brainlist and follow.
Imagine that David is preparing his will and is trying to decide how to divide his assets between his two grown children. His daughter, Tonya, is a chemical engineer who earns a high income. His son, Terry, opted out of college and went to work straight out of high school. Now Terry works in construction; he works just as hard as Tanya, but he is less affluent than she is.
Classify each example of possible ways David could divide his assets based on fairness and distribution.
a. Leave his money to the child whom he thinks deserves more money.
b. Leave his money to charity instead
c. Split his wealth evenly Terry and Tonya
d. Leave terry his entire wealth to offset the gap between him and his sister.
e. Tell his kids he will leave the money to whoever does the most to take care of him in his old age.
1. Fairness of equal outcomes
2. Fairness of equal opportunity
3. Fairness of process
4. Fairness of what is reserved or earned
Answer:
Fairness of Equal Outcomes: Split his wealth evenly between Terry and Tonya, Leave his money to charity instead.
Fairness of Equal Opportunity: Leave Terry his entire wealth to offset the gap between him and his sister.
Fairness of Process: Tell his kids he will leave the money to whoever does the most to take care of him in his old age.
Fairness of what is deserved or earned: Leave his money to the child whom he thinks deserves the most money.
kurt's kabinets is looking for a project that will require 80,000 and another 20,000 in net working capital the project is expected to produce sells of 138,000 with associated cost of 74,000 the project has a 4 year life the company use straight line depreciation to a zero book value over the life of the project the tax rate is 21% what is the operating cash flow for this project
Answer:
$54,760
Explanation:
Calculation to determine the operating cash flow for this project
Operating Cash flow=[$138,000 -$ 704,000 - ($80,000 ÷4)] (1-.21) + $20,000
Operating Cash flow=[$138,000 -$ 74,000 -$20,000] 0.79+ $20,000
Operating Cash flow=($44,000*0.79)+$20,000
Operating Cash flow=$34,760+$20,000
Operating Cash flow=$54,760
Therefore the operating cash flow for this project will be $54,760
Which of the following statements is correct concerning liability when a partner in a general partnership commits a tort while engaged in partnership business? A. The partner committing the tort is the only party liable. B. The partnership is the only party liable. C. Each partner is jointly and severally liable. D. Each partner is liable to pay an equal share of any judgment.
The statement is correct concerning liability when a partner in a general partnership commits a tort while engaged in partnership business that is "each partner is jointly and severally liable". The correct option is C.
In a general partnership, each partner shares joint and several liability for the actions and liabilities of the partnership.
If a partner commits a tort while engaged in partnership business, the injured party can hold the partnership and all individual partners personally liable for any resulting damages.
This means that the injured party can choose to pursue a claim against the partnership as a whole or against any individual partner or a combination of partners, depending on their preference or ability to satisfy the judgment.
Therefore, the correct option is C.
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crane company purchased aa depreciatble asset for $614000 on january 1, 2018. the estimated salvage value os $56000 and the estimated useful life is 9 years. the straight-line method is used for depreciztion. in 2021, crane changed its estimates to a total useful life of 5 years with a salvage value of $92000. what is 2021 depreciation expense
Answer:
$166,000
Explanation:
The computation of the 2021 depreciation expense is shown below:
Depreciation expense is
= (Cost - Salvage value) ÷ Useful life
= ($614,000 - $56,000) ÷ 9
= $62000/year
Now book value as on 2021 is
= (Cost - Accumulated depreciation expense)
= $614,000 - (62000 × 3)
= $424000
Now revised depreciation expense is
= ($424,000 - $92,000) ÷ 2
= $166,000
Wilma Company must decide whether to make or buy some of its components. The cost of producing 60,000 switches for its generators are as follow: Direct Material $30,000 Direct Labor $42,000 Variable Overhead $45,000 Fixed Overhead $60,000 Instead of making the switches at $2.70 per unit. If the company purchases all the switches, all the variable cost and one-fourth of the fixed cost will be eliminated. (a) Prepare an incremental analysis showing whether the company should make or buy the switches. (b) Would your answer be different if the released productive capacity will generate additional income of $34,000
Answer:
The company would incur $ 30,000 additional costs if it buys the switches.
No, the company should make switches in order to avoid additional costs even if the income is increased.
Explanation:
Wilma Company
Make Buy Net Income
( increase / decrease)
Direct Material $30,000 $30,000
Direct Labor $42,000 $42,000
Variable Overhead $45,000 $45,000
Fixed Overhead $60,000 $ 45000 $ 15000
Purchase Price (2.7 *60,000)
162,000 ( 162,000)
Total $177,000 $ 207,000 (30,000)
The company should make the switches because it costs more to buy rather than to make.
The company would incur $ 30,000 additional costs if it buys the switches.
No because even if the income is increased the better option would be to make switches to save the additional costs.
Explanation:
It costs Sheridan Company $12 of variable and $5 of fixed costs to produce one bathroom scale which normally sells for $35. A foreign wholesaler offers to purchase 1700 scales at $15 each. Garner would incur special shipping costs of $1 per scale if the order were accepted. Sheridan has sufficient unused capacity to produce the 1700 scales. If the special order is accepted, what will be the effect on net income
Answer:
$3,400 Increase
Explanation:
Computation to determine what will be the effect on net income
Using this formula
Effect on net income = Units ordered * (Special price - Variable cost)
Let plug in the formula
Effect on net income = 1700 * [$15- ($12+$1)]
Effect on net income = 1700 * ($15 -$13)
Effect on net income = 1700 *$2
Effect on net income = $3,400 Increase
Therefore If the special order is accepted, what will be the effect on net income will be $3,400 Increase
WV Construction has two divisions: Remodeling and New Home Construction. Each division has an on-site supervisor who is paid a salary of $90,000 annually and one salaried estimator who is paid $50,000 annually. The corporate office has two office administrative assistants who are paid salaries of $54,000 and $39,000 annually. The president's salary is $159,000. How much of these salaries are common fixed expenses
Answer:
$252,000
Explanation:
Calculation to determine How much of these salaries are common fixed expenses
Office administrative assistant $ 54,000
Office administrative assistant $39,000
President's salary $159,000
Common fixed expenses $ 252,000
($54,000+$39,000+$159,000)
Therefore How much of these salaries are common fixed expenses will be $252,000
The table below represents daily production possibilities for a typical worker in both China and the United States, assuming that only two types of goods are produced in each country: food and textiles. (Put your answers in decimal form to two decimal places.)
Output per Worker per Day (unit)
Food Textiles
China 1 2
United States 9 3
The opportunity cost of 1 more unit of The opportunity cost of 1 more unit of food in China is giving up________ food in the United States is giving up_________ units of textiles. The opportunity cost of 1 more unit of textiles in China is giving up _________ textiles in the United States is giving up _______ units of food.The opportunity cost of 1 more unit of China has the comparative advantage in the production of and the United States has the comparative advantage in the production of _______
Answer
Answer
Answer
Answer
The opportunity cost of producing 1 more unit of food in China is giving up 2 units of textiles.
The opportunity cost of producing 1 more unit of food in the United States is giving up 0.33 units of textiles.
The opportunity cost of producing 1 more unit of textiles in China is giving up 0.5 units of food.
The opportunity cost of producing 1 more unit of textiles in the United States is giving up 3 units of food.
It is clear from the above that China has a comparative advantage in producing textiles while the United States has a comparative advantage in producing food.
What are opportunity costs and examples?The opportunity cost is time spent studying and that money to spend on something else. A farmer chooses to plant wheat; the opportunity cost is planting a different crop or alternate use of the resources (land and farm equipment). A commuter takes the train to work instead of driving.
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Carey Company owns a plot of land on which buried toxic wastes have been discovered. Since it will require several years and a considerable sum of money before the property is fully detoxified and capable of generating revenues, Carey wishes to sell the land now. It has located two potential buyers.
Buyer A, who is willing to pay $850,000 for the land now, or Buyer B, who is willing to make 20 annual payments of $90,000, with the first payment to be made at the end of the year. Assuming that the appropriate rate of interest is 9%, who should Carey sell the land. Show calculations.
Answer:
Carey should choose buyer B
$911,569.11
Explanation:
Planner Corporation owns 60 percent of Schedule Company’s voting shares. During 20X3, Planner produced 25,000 computer desks at a cost of $82 each and sold 10,000 of them to Schedule for $94 each. Schedule sold 7,000 of the desks to unaffiliated companies for $130 each prior to December 31, 20X3, and sold the remainder in early 20X4 for $140 each. Both companies use perpetual inventory systems. Required: a. What amounts of cost of goods sold did Planner and Schedule record in 20X3?
Answer:
Cost of Goods sold for Planner:
= Goods sold * Cost to produce
= 10,000 * 82
= $820,000
Cost of Goods sold for Schedule:
= Goods sold * Cost of acquisition
= 7,000 * 94
= $658,000
Main Street Ice Cream Company uses a plantwide allocation method to allocate overhead based on direct labor-hours at a rate of $2 per labor-hour. Strawberry and vanilla flavors are produced in Department SV. Chocolate is produced in Department C. Sven manages Department SV and Charlene manages Department C. The product costs (per thousand gallons) follow:
Strawberry Vanilla Chocolate
Direct labor (per 1,000 gallons) $766 $841 $1,141
Raw materials (per 1,000 gallons) 816 516 616
Requirement 1:
If the number of hours of labor per 1,000 gallons is 60 for strawberry, 70 for vanilla, and 100 for chocolate, compute the total cost of 1,000 gallons of each flavor using plantwide allocation.
Total cost
Strawberry $1,702
Vanilla $1,497
Chocolate $1,957
Requirement 2:
Charlene's department uses older, outdated machines. She believes that her department is being allocated some of the overhead of Department SV, which recently bought state-of-the-art machines. After she requested that overhead costs be broken down by department, the following information was discovered:
Department SV Department C
Overhead $88,760 $915
Machine-hours 25,360 37,600
Labor-hours 25,360 18,300
Using machine-hours as the department allocation base for Department SV and labor-hours as the department allocation base for Department C, compute the allocation rate for each.
Allocation rate
Department SV $3.50
Department C $0.05
Requirement 3:
Compute the cost of 1,000 gallons of each flavor of ice cream using the department allocation rates computed in requirement 2 if the number of machine-hours for 1,000 gallons of each of the three flavors of ice cream are as follows: strawberry, 60; vanilla, 70; and chocolate, 166. Direct labor hours by product remain the same as in requirement 1.
Requirement 4:
A) Was Charlene correct in her belief?
B) Department allocation generally yields more accurate product cost information.
1) True
2) False
Answer:
See below
Explanation:
a. Compute the total cost per 1,000 gallons
Strawberry Vanilla Chocolate
Direct labor $766 $841 $1,141
Raw materials $816 $516 $616
Overhead (60×$2)$120 ($70×2)$140 (100×$2) $200
Total cost $1,702 $1,497 $1,957
Therefore,
Total cost = $1,702 + $1,497 + $1,957 = $5,156
b. Compute the allocation rate for each department
Allocation base
Allocation rate
Department SV Per machine hour $88,760/25,360 $3.5
Department C Per labor hour
$915/18,300 $0.05
c. Compute the total cost
Strawberry Vanilla Chocolate
Direct labor $766 $841 $1,141
Raw materials $816 $516 $616
Overhead (60×$3.5)$210 (70×$3.5)$245 (100×$3.5)$350
Total cost $1,792 $1,707 $2,107
Therefore,
Total cost = $1,792 + $1,707 + $2,107 = $5,606
To calculate compound interest earnings, the formula requires that you know the amount of principal, the number of time periods, and
O the age of the depositor
O the amount of bank fees
o the interest rate
O the inflation rate
Answer:
the interest rate.
Explanation:
Compound interest is generally calculated based on the interest rate on a loan, principal and the accumulated interest gained from previous periods.
This ultimately implies that, to calculate compound interest earnings, the formula requires that you know the amount of principal, the number of time periods, and the interest rate.
To find the future value, we use the compound interest formula;
[tex] A = P(1 + \frac{r}{n})^{nt}[/tex]
Where;
A is the future value.
P is the principal or starting amount.
r is annual interest rate.
n is the number of times the interest is compounded in a year.
t is the number of years for the compound interest.
clarify the term fair discrimination
The term fair discrimination is a type of discrimination that is legally required.
What is fair discrimination?Firm discrimination may be based on the following situations:
Inherent requirements of a particular job (qualifications)Compulsory discrimination by law (for example, laws that regulated interracial marriages)Discrimination based on productivity (meritocracy).Thus, fair discrimination is a type of discrimination that is legally required.
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