The postal service of St. Vincent, an island in the West Indies, obtains a significant portion of its revenues from sales of special souvenir sheets to stamp collectors. The postal service purchases the souvenir sheets from a supplier for $0.80 each. St. Vincent has been selling the souvenir sheets for $8.00 each and ordinarily sells about 80,000 units. To test the market, the postal service recently priced a new souvenir sheet at $7.00 and sales increased to 93,600 units.
Required:
1. What total contribution margin did the postal service earn when it sold 80,000 sheets at a price of $8.00 each?
2. By what percentage did the St. Vincent post office decrease its selling price? By what percentage did unit sales increase? (Round your answers to one-tenth of a percent.)
3. What total contribution margin did the postal service earn when it sold 93,600 sheets at a price of $7.00 each?
4. What was the postal service’s increase (decrease) in total contribution margin going from the higher price of $8.00 to the lower price of $7.00?
5. How many sheets would the postal service have to sell at the lower price of $7.00 to equal the total contribution margin earned at the higher price of $8.00? (Round your answer up to the nearest whole number.)
6. What percentage increase in the number of sheets sold at $7.00 must be achieved to equal the total contribution margin earned at the higher price of $8.00? (Round your answer up to the nearest one-tenth of a percent.)
7. A financial manager at the postal service has suggested that a more accurate comparison of the two pricing alternatives ($8.00 vs. $7.00) should include an allocation of the postal service’s common fixed costs. A portion of the common fixed costs would be allocated to each alternative using total sales dollars as the cost allocation base. He contends that this approach would help ensure that the postal service’s common fixed costs are covered by the prices that it charges customers. Do you agree?

Answers

Answer 1

Answer:

St. Vincent

1. Contribution margin with sales of 80,000 sheets at $8.00 each:

Sales revenue $640,000

Cost of sales       64,000

Contribution   $576,000

2. Percentage decrease in selling price:

Old price =  $8.00

New price =  7.00

Decrease = $1.00

Decrease in percentage = $1/$8 * 100

= 12.5%

3. Percentage increase in sales units:

New sales units = 93,600

Old sales units =  80,000

Increase in units   13,600

Increase in percentage = 13,600/80,000 * 100

= 17%

4. Contribution margin with sales of 93,600 sheets at $7.00 each:

Sales revenue   $655,200

Cost of sales         64,000

Contribution      $591,800

Old contribution 576,000

Increase =           $15,200

5. Contribution per margin (new price) = $6.20 ($7.00 - $0.80)

Units to sell to equal the total contribution margin earned at the higher price of $8.00 = 92,903 ($576,000/$6.20)

6. Percentage increase in the number of sheets sold at $7.00 to equal the total contribution margin earned at the higher price of $8.00:

New units = 92,903

Old units =  80,000

Increase =   12,903

Percentage increase = 12,903/80,000 * 100

= 16.129

= 16.13%

7. The common fixed costs do not vary according to the units sold.  Allocating a portion of the fixed costs to the alternatives does not make the comparison more accurate.

Explanation:

a) Data and Calculations:

Cost of a souvenir = $0.80

Selling price per souvenir = $8.00

Sales units = 80,000

Selling price of a new souvenir = $7.00

Sales units of the new souvenir = 93,600


Related Questions

Randall Company manufactures products to customer specifications. A job costing system is used to accumulate production costs. Factory overhead cost was applied at 125% of direct labor cost. Selected data concerning the past year's operation of the company are presented below. January 1 December 31 Direct materials $ 77,000 $ 40,000 Work in process 66,000 42,000 Finished goods 115,000 100,000 Other information Direct materials purchases $ 324,000 Cost of goods available for sale 950,000 Actual factory overhead costs 260,000 The cost of direct materials used for production is:

Answers

Answer:

$361,000

Explanation:

Direct materials used  = Beginning Materials + Purchases - Ending Materials

therefore,

Direct materials used  = $ 77,000 + $ 324,000 - $ 40,000 = $361,000

Conclusion

The cost of direct materials used for production is $361,000.

Do you feel it is easier or harder to deliver a presentation online versus face to face? Why?

Answers

Answer:

I think it easier in person

Explanation:

This is due to the fact that I can see the people and can understand if people are paying attention or if I need to alter the material a bit.

Lavage Rapide is a Canadian company that owns and operates a large automatic carwash facility near Montreal. The following table provides data concerning the company’s costs:
Fixed Cost per Month Cost per Car Washed
Cleaning supplies $0.80
Electricity $1,200 $0.15
Maintenance $0.20
Wages and salaries $5,000 $0.30
Depreciation $6,000
Rent $8,000
Administrative expenses $4,000 $0.10
For example, electricity costs are $1,200 per month plus $0.15 per car washed. The company expects to wash 9,000 cars in August and to collect an average of $4.90 per car washed. The actual operating results for August are as follows:
Lavage Rapide
Income Statement
For the Month Ended August 31
Actual cars washed 8,800

Revenue $43,080
Expenses:
Cleaning supplies 7,560
Electricity 2,670
Maintenance 2,260
Wages and salaries 8,500
Depreciation 6,000
Rent 8,000
Administrative expenses 4,950
Total expense 39,940
Net operating income $3,140
Prepare a flexible budget performance report that shows the company’s revenue and spending variances and activity variances for August.

Answers

Answer:

Lavage Rapide

Lavage Rapide

Income Statement

For the Month Ended August 31

                                           Actual  Planning  Flexible          Variances

Cars washed                      8,800      9,000      8,800     Activity    Spending      

Revenue                         $43,080     44,100    43,120    $1,020 U      $40 F

Expenses:

Cleaning supplies              7,560    $7,200   $7,040      $360 U     $520 U

Electricity                            2,670      2,550    2,520       $120  U     $150  U

Maintenance                      2,260       1,800     1,760      $460  U    $500  U

Wages and salaries           8,500      7,700     7,640      $800  U    $860  U

Depreciation                      6,000     6,000     6,000      None         None

Rent                                    8,000     8,000     8,000      None         None

Administrative expenses  4,950     4,900     4,880         $50  U      $70  U

Total expense                 39,940    38,150   37,840     $1,790  U $2,100  U

Net operating income     $3,140   $5,950  $5,280     $2,810      $2,140  U

Explanation:

a) Data and Calculations:

Company's Costs:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed

Cleaning supplies                                    $0.80

Electricity                            $1,200           $0.15

Maintenance                                            $0.20

Wages and salaries          $5,000          $0.30

Depreciation                     $6,000

Rent                                   $8,000

Administrative expenses $4,000           $0.10

Expected number of cars = 9,000 cars

Service price per car wash = $4.90

Actual operating results for August:

Lavage Rapide

Income Statement

For the Month Ended August 31

Actual cars washed 8,800

Revenue                         $43,080

Expenses:

Cleaning supplies              7,560

Electricity                            2,670

Maintenance                      2,260

Wages and salaries           8,500

Depreciation                      6,000

Rent                                    8,000

Administrative expenses  4,950

Total expense                 39,940

Net operating income     $3,140

Planning Budget:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed                           Total

Cleaning supplies                                    $7,200 (9,000 * $0.80)    $7,200

Electricity                            $1,200           $1,350 (9,000 * $0.15)     $2,550

Maintenance                                             $1,800 (9,000 * $0.20)    $1,800

Wages and salaries          $5,000          $2,700 (9,000 * $0.30)    $7,700

Depreciation                     $6,000                                                    $6,000

Rent                                   $8,000                                                    $8,000

Administrative expenses $4,000            $900 (9,000 * $0.10)     $4,900

Flexible budget:

                                      Fixed Cost       Cost per

                                      per Month    Car Washed                            Total

Cleaning supplies                                    $7,040 (8,800 * $0.80)    $7,040

Electricity                            $1,200           $1,320 (8,800 * $0.15)    $2,520

Maintenance                                             $1,760 (8,800 * $0.20)    $1,760

Wages and salaries          $5,000          $2,640 (8,800 * $0.30)    $7,640

Depreciation                     $6,000                                                    $6,000

Rent                                   $8,000                                                    $8,000

Administrative expenses $4,000            $880 (8,800 * $0.10)      $4,880

Calculate the transaction value (in $ thousands) of a theoretical company based on the information provided below. Current Share Price $18.00 Shares Outstanding (Thousands) 5,000 Total Debt ($ Thousands) $3,700 Cash ($ Thousands) $2,100 Acquisition Premium 10% Review Later $82,600 $115,700 $97,600 $100,600

Answers

Answer:

The Transaction Value (in $ thousands) is:

= $97,240

Explanation:

a) Data and Calculations:

Current Share Price $18.00

Shares Outstanding (Thousands) 5,000

Total market value = $90,000 ($18 * 5,000)

Total Debt ($ Thousands) $3,700

Cash ($ Thousands) $2,100

Net liability = $1,600 ($3,700 - $2,100)

Net fair value = $88,400

Acquisition Premium 10%

Premium = $8,840 ($88,400 * 10%)

Acquisition or Transaction value = $97,240 ($88,00 * 1.1)

b) The transaction value is the acquisition value of the theoretical company.

The marketing manager at Home Depot works with Hunt Advertising to coordinate all promotional messages for a product or a service. For example, to sell the new line of lighting fixtures, the marketing manager and Hunt Advertising make sure that all messages are consistent at every contact point at which Home Depot interacts with the consumer. This is an example of _______.

Answers

Answer:

Promotional mix

Explanation:

Since in the given situation, coordinate the promotional messages for promoting the product or a service so here the promoting tenchique would be considered that means the company promotes its product via marketing manager and the advertiser who is third party

So according to the given case, this is an example of promotional mix

What are references?

Answers

Answer:

Explanation:

Let us say you are doing an essay on the gold trade on the comex. You have to read something to understand what it means to buy gold on the comex. You need to at least know what it takes to buy and sell on the comex.

What you read to find out is a reference. It has to be listed in a Bibliography which is a list of references.

Carol and Dave each purchase 100 shares of stock of Burgundy, Inc., a publicly owned corporation, in July for $10,000 each. Carol sells her stock on December 31 for $8,000. Because Burgundy’s stock is listed on a national exchange, Dave can ascertain that his shares are worth $8,000 on December 31. Does the Federal income tax law treat the decline in value of the stock differently for Carol and Dave? Explain.

Answers

Answer:

See below

Explanation:

From the above information, we can deduce that the stock owned by Carol and Dave falls in value by $2,000 I.e ($10,000 - $8,000) ; it is to be noted that Carol solely has realised and recognized loss of $2,000.

Here, one of the cogent factors that determines whether a sale has taken place is if realization has been effected. Here, stock sold by Carol qualifies as a disposition while the decline in the value of stock sold by Dave does not qualify as disposition.

With regards to the foregoing, we can conclude that the federal income tax law treat the decline in the value of the stock differently for Carol and Dave.

You purchased 1,000 shares of the New Fund at a price of $38 per share at the beginning of the year. You paid a front-end load of 2.5%. The securities in which the fund invests increase in value by 9% during the year. The fund's expense ratio is 1.3%. What is your rate of return on the fund if you sell your shares at the end of the year

Answers

Answer:

1.40%

Explanation:

Calculation to determine your rate of return on the fund if you sell your shares at the end of the year

Rate of Return=[($38,000*(1.13-.09))-((1000 x $38/(1-.025))]/[1000 x $38/(1-.025)]

Rate of Return=[$39,520-($38,000/(1-.025))]/-[$38,000/(1-.025)]

Rate of Return=($39,520-38,974.36)/38,974.36

Rate of Return=1.40%

Therefore your rate of return on the fund if you sell your shares at the end of the year will be 1.40%

Piper Rose Boutique has been approached by the community college to make special polo shirts for the faculty and staff. The college is willing to buy 4,000 polos with its own design for $6.00 each. The company normally sells its shirts for $12.00 each. The company has enough excess capacity to make this order. A breakdown of the costs is as follows:
Direct materials $2.00
Direct labor 0.50
Variable factory overhead 1.50
Fixed factory overhead 2.50
Total cost per unit $6.50
Should Piper Rose Boutique accept the special order made by the college?

Answers

Answer:

Piper Rose Boutique should accept the special order made by the college

Explanation:

Price per unit the college is willing to pay = $6

Total variable cost per unit to be incurred by Piper Rose Boutique = Direct materials + Direct labor + Variable factory overhead = $2.00 + $0.50 + $1.50 = $4,00

Since the price per unit of $6 that the college is willing to pay is greater than the total variable cost per unit of $4 to be incurred by Piper Rose Boutique, Piper Rose Boutique should accept the special order made by the college.

Note: the Fixed factory overhead is not relevant in taking the decision. Only the variable costs are relevant.

Brodrick Company expects to produce 20,000 units for the year ending December 31. A flexible budget for 20,000 units of production reflects sales of $400,000; variable costs of $80,000; and fixed costs of $150,000. Assume that actual sales for the year are $480,000 (26,000 units), actual variable costs for the year are $112,000, and actual fixed costs for the year are $145,000. Prepare a flexible budget performance report for the year. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.)

Answers

Answer: Check attachment

Explanation:

The flexible budget performance report for the year has been solved and attached.

Note that the selling price per unit was calculated as:

= 400,000 /20,000

= $20 per unit

Therefore, total sales was gotten as:

= 26000 × $20

= $520,000

Variable cost per unit was calculated as:

= 80,000/20,000

= $4 per unit

Then, total cost was:

= $4 × 26,000

= $104,000

Check attachment for further details.

Yozamba Technology has two divisions, Consumer and Commercial, and two corporate service departments, Tech Support and Purchasing. The corporate expenses for the year ended December 31, 20Y7, are as follows:

Tech Support Department $516,000
Purchasing Department 89,600
Other corporate administrative expenses 560,000
Total corporate expense $1,165,600

The other corporate administrative expenses include officers' salaries and other expenses required by the corporation. The Tech Support Department charges the divisions for services rendered, based on the number of computers in the department, and the Purchasing Department charges divisions for services, based on the number of purchase orders for each department. The usage of service by the two divisions is as follows:

Tech Support Purchasing
Consumer Division 375 computers 1,960 purchase prder
Commercial Division 225 3640
Total 600 computers 5,600 purchase order

The service department charges of the Tech Support Department and the Purchasing Department are considered controllable by the divisions. Corporate administrative expenses are not considered controllable by the divisions. The revenues, cost of goods sold, and operating expenses for the two divisions are as follows:

Consumer Commercial
Revenues $7,430,000 $6,184,000
Cost of goods sold 4,123,000 3,125,000
Operating expenses 1,465,000 1,546,000

Required:
Prepare the divisional income statements for the two divisions.

Answers

Answer:

Yozamba Technology

Divisional Income Statements:

                                  Consumer       Commercial        Total

Revenues                 $7,430,000        $6,184,000    $13,614,000

Cost of goods sold     4,123,000          3,125,000       7,248,000

Gross profit              $3,307,000      $3,059,000    $6,366,000

Operating expenses  1,465,000          1,546,000        3,011,000

Corporate expenses:

Tech Support               322,500             193,500          516,000

Purchasing                      31,360               58,240           89,600

Other corporate administrative expenses                  560,000

Total expenses       $1,818,860          $1,797,740     $4,176,600

Net income (loss)    $1,488,140         $1,261,260     $2,189,400

Explanation:

a) Data and Calculations:

Corporate expenses for the year ended December 31, 20Y7:

Tech Support Department                         $516,000  Number of computers

Purchasing Department                                 89,600  Number of POs

Other corporate administrative expenses 560,000

Total corporate expense                         $1,165,600

Usage of Service:

                                 Tech Support          Purchasing

Consumer Division    375 computers     1,960 purchase order

Commercial Division 225                       3,640

Total                           600 computers    5,600 purchase order

Overhead Rates:

Tech Support = $860 per computer ($516,000/600)

Purchase = $16 per purchase order ($89,600/5,600)

Allocation of Corporate Expenses:

                                     Tech Support     Purchasing     Total

Consumer Division           $322,500        $31,360        353,860

                                       (375 * $860)     (1,960 * $16)

Commercial Division            193,500        58,240          251,740

                                      (225 * $860)     (3,640 * $16)

Total                                   $516,000      $89,600      $605,600

Problem 10-18 Return on Investment (ROI) and Residual Income [LO10-1, LO10-2] "I know headquarters wants us to add that new product line," said Dell Havasi, manager of Billings Company’s Office Products Division. "But I want to see the numbers before I make any move. Our division’s return on investment (ROI) has led the company for three years, and I don’t want any letdown." Billings Company is a decentralized wholesaler with five autonomous divisions. The divisions are evaluated on the basis of ROI, with year-end bonuses given to the divisional managers who have the highest ROIs. Operating results for the company’s Office Products Division for this year are given below: Sales $ 10,000,000 Variable expenses 6,000,000 Contribution margin 4,000,000 Fixed expenses 3,200,000 Net operating income $ 800,000 Divisional average operating assets $ 4,000,000 The company had an overall return on investment (ROI) of 15% this year (considering all divisions). Next year the Office Products Division has an opportunity to add a new product line that would require an additional investment that would increase average operating assets by $1,000,000. The cost and revenue characteristics of the new product line per year would be: Sales $2,000,000 Variable expenses 60% of sales Fixed expenses $640,000

Answers

Solution :

Income on new line

Contribution (2,000,00 x40%)           800,000

Less fixed expense                          - 640,000

Net operating income                        160,000

Particulars                              Present            New line          Total

Sales                                 10,000,000      2,000,000    12,000,000      

Net operating income      800,000            160,000        960,000

Operating assets             4,000,000         1,000,000   5,000,000

Margin                                   8%                       8%               8%

ROI                                     20.00%                16.00%         19.20%

Residual income   = net operating income - (average assets x minimum rate or return)

Particulars                                  Present            New line          Total

Operating assets                   4,000,000         1,000,000   5,000,000      

Minimum required return          12 %                   12 %             12 %

Min net operating income     480,000             120,000      600,000

Actual net operating income  800,000            160,000      960,000

Residual income                      320,000               40,000      360,000      

 

Return on investment is the profitability or the performance measurement tool that determines the percentage of returns being gained from total investments. It determines the efficiency of the investment and its project to generate higher returns from its operations.

The residual income is the net income in the hands of the business after the payment of all operating and nonoperating expenses and other payments.

The total return on investment inclusive of the present and the new line is 19.20%.

The total residual income is $360,000.

The computation of the return on investment is computed in the table attached below.

The formula for determining the residual income is:

[tex]\begin{aligned}\text{Residual Income}&=\text{Net Operating Income}-\left(\text{Average assets}\times\text{Minimum Rate of Return} \right ) \end{aligned}[/tex]

The entire computation of the residual income is attached in the image below.

To know more about return on investment, refer to the link:

https://brainly.com/question/13575981

Indicate whether each of the following companies are primarily a service, merchandise, or manufacturing business. If you are unfamiliar with the company, use the Internet to locate the company's home page or use the finance Web site of Yahoo.1. Alcoa Inc. 2. Boeing 3. Caterpillar 4. Citigroup Inc. 5. CVS 6. Dow Chemical Company 7. eBay Inc. 8. FedEx 9. Ford Motor Company 10. Gap Inc. 11. H&R Block 12. Hilton Hospitality, Inc. 13. Procter & Gamble 14. SunTrust 15. WalMart Stores, Inc.

Answers

Answer:

Service company.

4. Citigroup Inc.

5. CVS

7. eBay Inc.

8. FedEx

11. H&R Block

12. Hilton Hospitality, Inc.

14. SunTrust

Merchandise Company.

10. Gap Inc.

13. Procter & Gamble

15. WalMart Stores, Inc.

Manufacturing company.

1. Alcoa Inc.

2. Boeing

3. Caterpillar

6. Dow Chemical Company

9. Ford Motor Company  

Assume the following information for Windsor Corp.

Accounts receivable (beginning balance) $139,000
Allowance for doubtful accounts (beginning balance) 11,450
Net credit sales 940,000
Collections 917,000
Write-offs of accounts receivable 5,600
Collections of accounts previously written off 1,600

Uncollectible accounts are expected to be 9% of the ending balance in accounts receivable.

Required:
Prepare the entries to record sales and collections during the period.

Answers

Answer:

To record the Sales

Dr. Account Receivables 940,000

Cr. Sales 940,000

To record the Collection

Dr. Cash 917,000

Cr. Account Receivables 917,000

Explanation:

To record the sales we need to debit the account receivables as the sales are made on credit and credit the sale to record the sale.

To record the Collection from the customers we need to debit the cash account to record the receipt of cash ab credit the account receivables to decrease the value of account receivables by the amount of collection.

PLEASE HELP ASAP!! THESE ARE TRUE OR FALSE!! WILL MARK BRAINLIEST!!
1. International trade has little effect on our daily lives as consumers and workers.
2. Making, buying, and selling goods and services within a country is known as international
business.
3. Another term for international business is foreign or world trade.
4. Among the advantages enjoyed by the U.S. in world trade is our own production of wool
and oil.
5. Things we buy from other countries are called exports.
6. It is necessary for the U.S. to import a variety of metals.
7. Goods and services we sell to other countries are called exports.
8. There are a number of challenges involved with international trade, but currency exchange
rates are not one of them.
9. A limit set on the quantity of a product that can be imported or exported is called an
embargo.
10. A balance of payments and a balance of trade are the same thing.

Answers

Answer:

1. false

2. true

3. true

4. false

5. true

6. true

Explanation:

because i took this test

Answer:

1. false

2. false

3. true

4. true

5. false

6. true

7. true

8. false

9. false

10. false

Explanation:

Which of the following statement is not true about the Commercial News USA magazine, the official export magazine for the US: Group of answer choices Magazine is published in both English and Spanish Magazine is published in both English and Chinese Magazine is published the official export promotion magazine of the US government Magazine has an estimated 250,000 readers in 178 countries.

Answers

Answer:

Magazine is published in both English and Chinese

Explanation:

According to Capela Chapter 12,  we good to know that the Commercial News USA would be classified as the promotion magazine that should be used for official export with respect to the US Department of Commerce. The magazine would be published in English and Spanish languages and also has approx 2,50,000 readers in 178 countries.

Therefore the first option is not true  

Kieso Company borrowed $640,000 for six months. The annual interest rate on the loan was 8%. Kieso's fiscal year ends on December 31. Kieso borrowed the $640,000 one month prior to the end of its last fiscal year and paid the $640,000 plus interest back five months into its current fiscal year. How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year

Answers

Answer:

Interest for last fiscal year $4,267

Interest for current fiscal year $21,333

Explanation:

Calculation to determine How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year

Interest for last fiscal year=$640,000*8%*1/12

Interest for last fiscal year=$4,267

Interest for current fiscal year=$640,000*8%*5/12

Interest for current fiscal year=$21,333

Therefore How much interest expense, if any, would Kieso report at the end of its last fiscal year and at the end of its current fiscal year are:

Interest for last fiscal year $4,267

Interest for current fiscal year $21,333

What would you prefer, a savings account that pays 10% interest compounded semiannually or one that pays 10% interest compounded daily? Explain.

Answers

Answer:

10% interest compounded daily will be preferable

Explanation:

In the first case, compounding occurs twice (semiannually)

In the second case, compounded occurs 365 days.

Note that compounding is earning interest on principal plus the already accumulated interest amount.

In the first case the Annual Percentage Rate (APR) would be:

= (1 + 10%/2)^2 - 1

= 0.1025

= 10.25%

In the second case the Annual Percentage Rate APR would be:

= (1 + 10%/365)^365 - 1

= 1.00027397^365 - 1

= 1.105154 - 1

= 0.105154

= 10.51%

So, 10% interest compounded daily will be preferable as it yield more.

CPU-on-Demand (CPUD) offers real-time high-performance computing services. CPUD owns 1 supercomputer that can be accessed through the Internet. Their customers send jobs that arrive on average every 5 hours. The standard deviation of the interarrival times is 5 hours. Executing each job takes on average 3 hours on the supercomputer and the standard deviation of the processing time is 4.5 hours. How long does the customer have to wait to have the job completed?

Answers

Answer:

61 hours

Explanation:

On April 1, Java Brewers created a petty cash fund starting with $100. On April 30, there was only $5 remaining in the petty cash box. The custodian of the fund presented vouchers to the company accountant for Supplies of $55 and Delivery Expenses of $40. The journal entry on April 30, to replenish the fund, would be: On April 1, Java Brewers created a petty cash fund starting with $100. On April 30, there was only $5 remaining in the petty cash box. The custodian of the fund presented vouchers to the company accountant for Supplies of $55 and Delivery Expenses of $40. The journal entry on April 30, to replenish the fund, would be: OPTION ACCOUNT TITLE DEBIT CREDIT (A) Petty cash 95 Cash 95 (B) Cash 95 Petty cash 95 (C) Delivery expenses 40 Supplies 55 Petty cash 95 (D) Delivery expenses 40 Supplies 55 Cash 95

Answers

Answer:

D. Dr Delivery expenses 40, Supplies 55

Cr Cash 95

Explanation:

Given the above information, the journal entry on April 30, to replenish the fund would be;

Debit the expenses account. The expenses here are delivery and supply expenses, while Cash would be credited(Sum of the delivery and supply expenses)

Therefore,

Dr Delivery expenses $40

Dr Supplies $55

_____________ To Cash $95

Gabbe Industries is a division of a major corporation. Last year the division had total sales of $24,040,500, net operating income of $3,726,278, and average operating assets of $7,755,000. The company's minimum required rate of return is 18%. Required: a. What is the division's margin? (Round your percentage answer to 2 decimal places.) b. What is the division's turnover? (Round your answer to 2 decimal places.) c. What is the division's return on investment (ROI)? (Round percentage your answer to 2 de

Answers

Answer:

See

Explanation:

Part A

Division's margin = Net operating income/Total sales

= $3,726,278/$24,040,500

= 0.155

Division's margin = 15.5%

Part B

Division's turnover = Total sales/Average operating assets

= $24,040,500/$7,755,000

= 3.1

Division's turnover = 3.1 times

Part C

The division's return on investment

= Net operating income/Average operating assets

= $3,726,278/$7,755,000

= 0.481

The division's return on investment is 48.1%

Tex's Manufacturing Company can make 200 units of a necessary component part with the following costs: Direct Materials $240,000 Direct Labor 35,000 Variable Overhead 75,000 Fixed Overhead 40,000 If Tex's Manufacturing Company can purchase the component externally for $330,000 and only $15,000 of the fixed costs can be avoided, what is the correct make-or-buy decision

Answers

Answer:

Buy and save $35,000

Explanation:

The computation is shown below:

Particulars                                  Make                          Buy

Direct Materials                         $240,000

Direct Labor                               $35,000

Variable Overhead                     $75,000

Fixed Overhead                          $15,000

Purchase cost                                                          $330,000

Total cost                                      $365,000           $330,000

As we can see that the buying total cost is less than the total making cost so here we can buy the product as it saves the company by $35,000 ($365,000 - $330,000)

Shirine has been debating between two career pathways in finance. She creates a Venn diagram to compare the two careers. In a Venn diagram, the separate circles contain characteristics unique to each item being compared and the intersection contains characteristics that are common to both items being compared. This is the Venn diagram that Shirine creates:


A Venn diagram.

Title 1 has Sets up and oversees customer accounts; Analyzes how much to grant in loans; Possible Careers: Teller, Loan Officer, Credit Checker.

Title 2 has Analyzes how to grow customers' money; Deals with securities and commodities; Possible Careers: Personal Finance Advisor, Treasurer, Risk Management Analyst. The area of overlap has Deals with money, Works with customers.


Which accurately labels the titles in Shirine’s diagram?


a) Title 1 should be Investment Career Pathway, and Title 2 should be Banking Career Pathway


b) Title 1 should be Banking Career Pathway, and Title 2 should be Investment Career Pathway


c) Title 1 should be Banking Career Pathway, and Title 2 should be Financial Management Career Pathway


d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway

Answers

Answer:

d) Title 1 should be Financial Management Career Pathway, and Title 2 should be Investment Career Pathway

Explanation:

i believe its D but im not exactly sure

Answer:

D

Explanation:

definition of business by different authors​

Answers

Answer:

The term business has been defined by different authors from time to time as follows: “A business is nothing more than a person of group of persons properly organize to produce or distribute goods or services.

Explanation:

Answer:

The term business has been defined by different authors from time to time as follows: “A business is nothing more than a person of group of persons properly organize to produce or distribute goods or services.

Last summer, Maria decided to join a bowling league with some colleagues from work. They formed a team and bowled together several times to get to know one another better. The week before the league started, the team had to come up with a name. During a meeting to discuss this, Maria and her teammate Tim got into a heated debate because Maria wanted their name to be The Lucky Strikes, whereas Tim wanted the team name to be The Pin City Pimps. While yelling at each other, it became clear that Maria thought she should be the team manager because she had formed the team. Tim was just as adamant that he should be team manager because he is the more experienced bowler.

1. As Sunita and Hubert argue about the team name, what stage of development is their bowling team in?

a. Storming
b. Norming
c. Performing
d. Forming

2. If a team leader wanted to help a team such as Sunita’s get through the storming stage of team development, he or she should take which of the following actions? Check all that apply.

a. Encourage participation by all team members.
b. Help the team discourage free riding.
c. Disband the team.
d. Watch for blocking, or disruptive, behaviors and help prevent them.

Answers

#1 is storming
#2 is a. And d.

At the present time, Andalusian Limited (AL) has 5-year noncallable bonds with a face value of $1,000 that are outstanding. These bonds have a current market price of $1,438.04 per bond, carry a coupon rate of 14%, and distribute annual coupon payments. The company incurs a federal-plus-state tax rate of 35%. If AL wants to issue new debt, what would be a reasonable estimate for its after-tax cost of debt (rounded to two decimal places)? (Note: Round your YTM rate to two decimal place.)

Answers

Answer:

2.69%

Explanation:

According to the scenario, computation of the given data are as follows,

Face value (FV) = $1,000

Time period = 5 years

Present Value (PV) = $1,438.04

Coupon rate = 14%

Payment (pmt) = 14% × $1,000 = $140

So, by using excel function find YTM, we get

YTM = 4.13%

So, After Tax cost = Rate ( 1 - tax rate)

= 4.13% ( 1 - 35%)

= 4.13% × 65%

= 2.685% or 2.69%

Excel function is attached below.

Suppose you want to deposit a certain amount of money into a savings account and then leave it alone to draw interest for the next 10 years. At the end of 10 years you would like to have $10,000 in the account. How much do you need to deposit today to make that happen?

Answers

Answer:

PV= FV / (1 + i)^n

Explanation:

Giving the following information:

Number of periods (n)= 10 years

Future value (FV)= $10,000

We were not provided with the interest rate. I will assume an interest rate of 7% compounded annually.

To calculate the initial investment, we need to use the following formula:

PV= FV / (1 + i)^n

PV= 10,000 / (1.07^10)

PV= $5,083.49

Initial investment= $5,083.49

Suppose there are only two firms that sell smartphones: Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depending on whether it sets a high or low price for its phones.

Pictech Pricing
High Low
Flashfone Pricing High 11, 11 2, 18
Low 18, 2 10, 10

For example, the lower-left cell shows that if Flashfone prices low and Pictech prices high, Flashfone will earn a profit of $18 million, and Pictech will earn a profit of $2 million. Assume this is a simultaneous game and that Flashfone and Pictech are both profit-maximizing firms.

a. If Flashfone prices high, Pictech will make more profit if it chooses a (high,low) _____ price, and if Flashfone prices low, Pictech will make more profit if it chooses a(high,low)_______ price.
b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)______price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) ______ price.
c. Considering all of the information given, pricing high (is, is not) ______ a dominant strategy for both Flashfone and Pictech.

Answers

Answer:

Flashfone and Pictech

a. If Flashfone prices high, Pictech will make more profit if it chooses a (high,low) __low___ price, and if Flashfone prices low, Pictech will make more profit if it chooses a(high,low)___low____ price.

b. If Pictech prices high, Flashfone will make more profit if it chooses a(high,low)__low____price, and if Pictech prices low, Flashfone will make more profit if it chooses a (high,low) __low____ price.

c. Considering all of the information given, pricing high (is, is not) _is not_ a dominant strategy for both Flashfone and Pictech.

Explanation:

a) Data and Calculations:

                                 Pictech Pricing

                                     High        Low

Flashfone Pricing High 11, 11        2, 18

                             Low  18, 2      10, 10

b) A dominant strategy exists if Pictech or Flashfone would implement a particular strategy that benefits it no matter what the other firm does.

XYZ stock price and dividend history are as follows: Year Beginning-of-Year Price Dividend Paid at Year-End 2015 $ 134 $ 3 2016 150 3 2017 125 3 2018 130 3 An investor buys five shares of XYZ at the beginning of 2015, buys another two shares at the beginning of 2016, sells one share at the beginning of 2017, and sells all six remaining shares at the beginning of 2018. a. What are the arithmetic and geometric average time-weighted rates of return for the investor

Answers

Answer:

a. We have:

Arithmetic mean = 2.62%

Geometric mean = 1.82%

b. From the attached excel file, the total cash flow for each year are as follows:

January 1, 2015 Total Cash Flow = -$650

January 1, 2016 Total Cash Flow = -$273

January 1, 2017 Total Cash Flow = $141

January 1, 2018 Total Cash Flow = $768

Explanation:

Note: The requirement of this question is not complete. The complete requirement is therefore given before answering the question as follows:

a. What are the arithmetic and geometric average time-weighted rates of return for the investor.

b. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

The explanation of the answer is now given as follows:

The following sorted table is given in the question:

Year          Beginning-of-Year Price           Dividend Paid at Year-End

2015                           $ 134                                              $ 3

2016                              150                                                 3

2017                              125                                                 3

2018                              130                                                 3

a. What are the arithmetic and geometric average time-weighted rates of return for the investor.

The arithmetic and geometric average time-weighted rates of return for the investor can be calculated as follows:

Arithmetic average return = Sum of returns/ number of years ………....….. (1)

Geometric average return = n * ((1+r1)*(1+r2)*(1+r3)…(1+rn)^(1/n) - 1 .……….. (2)

Where;

n = years 1, 2, 3….

r1, r2, r3… are the returns for year 1, 2, 3….

Return for each year = ((Current year Beginning-of-Year Price – Previous year Beginning-of-Year Price) + dividend) / Previous year Beginning-of-Year Price .................... (3)

Using equation (3), we have:

2016 Return = ((150 - 134) + 3) /134 = 0.141791044776119

2017 Return = ((125 - 150) + 3) /150 = -0.146666666666667

2018 Return = ((125 - 120) + 5) /120 = 0.0833333333333333

Using equation (1), we have:

Arithmetic mean = (2016 Return + 2017 Return + 2018 Return) / 3 = (0.1417910447761190 - 0.1466666666666670 + 0.0833333333333333) / 3 = 0.0262, or 2.62%

Using equation (2), we have:

Geometric mean = ((1 + 2016 Return) * (1 + 2017 Return) * (1 + 2018 Return))^(1/3) - 1 = ((1 + 0.141791044776119) * (1 - 0.146666666666667) * (1 + 0.0833333333333333))^(1/3) - 1 = 0.0182, or 1.82%

b. Prepare a chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

Note: See the attached excel file for the chart of cash flows for the four dates corresponding to the turns of the year for January 1, 2015, to January 1, 2018.

In the attached excel file, Beginning-of-Year Price for January 1, 2015 and January 1, 2016 are negative because the purchase of stock is a cash outflow.

Bramble Company established a petty cash fund on May 1, cashing a check for $105. The company reimbursed the fund on June 1 and July 1 with the following results. June 1: Cash in fund $3.40. Receipts: delivery expense $27.40, postage expense $37.90, and miscellaneous expense $33.30. July 1: Cash in fund $3.95. Receipts: delivery expense $20.95, entertainment expense $53.20, and miscellaneous expense $26.90. On July 10, Bramble increased the fund from $105 to $135.00. Prepare journal entries for Bramble Company for May 1, June 1, July 1, and July 10.

Answers

Answer:

May 01

Dr Petty cash $105

Cr Cash $105

Jun 01

Dr Delivery Expense $27.40

Dr Postage Expense $37.90

Dr Miscellaneous Expense $33.30

Dr Cash over/short $3.00

($101.6-$27.40-$37.90-$33.30)

Cr Petty Cash $101.6

Jul 01

Dr Delivery expense $27.40

Dr Entertainment expense $53.20

Dr Miscellaneous expense $33.30

Cr Petty Cash $113.9

Jul 10

Dr Petty cash $30.00

Cr Cash $30.00

Explanation:

Preparation of the journal entries for Bramble Company for May 1, June 1, July 1, and July 10

May 01

Dr Petty cash $105

Cr Cash $105

Jun 01

Dr Delivery Expense $27.40

Dr Postage Expense $37.90

Dr Miscellaneous Expense $33.30

Dr Cash over/short $3.00

($101.6-$27.40-$37.90-$33.30)

Cr Petty Cash ($105 - $3.40) $101.6

Jul 01

Dr Delivery expense $27.40

Dr Entertainment expense $53.20

Dr Miscellaneous expense $33.30

Cr Petty Cash $113.9

($27.40+$53.20+$33.30)

Jul 10

Dr Petty cash $30.00

Cr Cash $30.00

($135-$105)

Other Questions
This is gonna be very long but I have no idea what to do, I'm confused.Course Project Part 4: Conducting the Experiment and Recording DataAfter much preparation, you are finally ready to begin conducting your experiment. Due to all the hard work you put into your literature review and planning your procedures, the steps that you need to take to conduct your experiment successfully have already been set. While you conduct your experiment, you will need to keep a daily journal where you record the activities you undertake that are relevant to the experiment and also where you record any data that you collect. This is your experiment log and serves as a record of your work while also allowing you to make a record of any changes or modifications you may need to make during the experiment.Conducting the Experiment and Keeping an Experiment JournalFollowing the procedure that you established in the previous part of this project, set up your experiment and begin running it. Every day while your experiment is running you will make an entry in your journal. Record what activities you completed (refer to your outlined procedure to make sure you are following the procedure that you established), any modifications that had to be made to your set up or procedure, and any observations or data you collect. Even on days when you do not collect data (depending on your experiment, there may not be data collection every day), make an entry in your journal. Each journal entry should be clearly labeled with the date on which it was entered. You do not need to type up all your entries, but make sure that your journal entries are neatly written, as they will be evaluated by your instructor.Depending on the topic and design of your experiment, the period of time during which you conduct and record your experiment may range from one to several weeks. In consultation with your instructor, you will establish a timeline for the evaluation of your journal. If you are running a shorter experiment, your journal may be evaluated several times over the course of one or two weeks. If your experiment takes longer to complete, you may have a weekly review over the course of a month. Follow the guidelines provided by your instructor.Collecting DataAll experiments generate data. This data allows the scientist to evaluate the success of the experiment and make interpretations about the results generated by the investigation. When you record your data, you must collect it as consistently as possible. Returning to the plant experiment, it would be best to measure the plants on a set schedule. For example, you might choose to measure the plants every Thursday at 3 pm. It is important to measure the plants at the same time each week so that the difference in growth you might observe is a reflection of the experimental condition, not simply longer growing time. Additionally, it is important to use the same instruments to collect data. The plants should be measured with the same ruler or measuring tape each time. This helps reduce any error or bias that might be introduced by using different instruments to make measurements. Whatever measurements or data you collect, do so in a consistent manner. Use the same instruments, the same scales, and record the data in a standardized manner. It is also a good idea to record your experiment using photographs. This will help you later during analysis and provides information for others who might be interested in recreating your experiment. Record your data in your experiment journal, where it will be reviewed by your teacher on an on-going basis. Submit your journal to your instructor according to the schedule you have established together. Burger town sells cheeseburger for $7.95 each plus an additional $1.00 for each topping, Which of the following equations vest represents the cost, c , of a cheeseburger? Is a DUI ( driving under the influence ) Fatality Manslaughter or Murder?Answer in 5-7 sentences using evidence to support your opinion Suppose you needed to push a 1,500-N sofa up a frictionless ramp with a 30 angle. How much force would you have to apply to the sofa?Show your work below. Which kind of map projection would you use to explore Antarctica? johns dinner costs $52.30. Sales tax is 6.5% and he wants to leave a 20% tip for the waitress. what is the total cost for johns meal ??????? Please helpBefore entering into mitosis to be tightly coiled into an 'X'-shape, DNA can resemble a bowl of spaghetti. This is referred to as ___. *A> CentromereB>ChromatidC>Chromatin ,...........Interpet the following pie-chart Help me pleaseFrom tomorrow my exam is going to be startWish me and my friends luck for exam Which value of x satisfies the inequality below?13< x How do the poet and the author of The Expert each use structure to help develop the meaning of the text? How does the structure affect what we know about the speaker in the poem and the characters in the story? Use details from both the story and the poem to explain how the structure of each text affects its meaning. In your answer, be sure to compare and contrast the structure of each text analyze how the structure contributes to meaning use details from the poem and the story in your answerCheck your writing for correct spelling, grammar, capitalization, and punctuation. What is full of holes but still holds water? Buteyko method, scope of inference. Exercise introduces a study on using the Buteyko shallow breathing technique to reduce asthma symptoms and improve quality of life. As part of this study 600 asthma patients aged 18-69 who relied on medication for asthma treatment were recruited and randomly assigned to two groups: one practiced the Buteyko method and the other did not. Those in the Buteyko group experienced, on average, a significant reduction in asthma symptoms and an improvement in quality of life.(a) Identify the population of interest and the sample in this study.(b) Comment on whether or not the results of the study can be generalized to the population, and if the findings of the study can be used to establish causal relationships. If the students in this sample can be considered representative of the population of interest, then the results___, _____generalizable. Additionally, since the study is____, _____the findingss____, _____be used to establish causal relationships. Hello (^v^) can someone help me with this question? Please help!!!!!!!!! The prices (in dollars) for a particular model of digital camera with 6.0 megapixels and an optical 3X zoom lens are shown below for 10 online retailers. Estimate the true mean price for this particular model with 93% confidence. Assume the variable is normally distributed. Use a graphing calculator and round the answers to at least one decimal place. 225 236 217 202 231 185 193 185 245 217 Why are the words We the People written so much larger than the rest of the Constitution? Which function or functions have a slope equal to the slope of Function 1? Rick kept track of wins and losses for each game attempt in the following table.Game Number of Wins Number of LossesGet-It-Rolling (A) 26 173Bag-of-Tokens (B) 54 141Pick-Your-Tile (C) 17 175Select the correct statement.A. The results from both game A and game C align closely with the theoretical probability of winning those games, while the results from game B do not.B. Only the results from game B align closely with the theoretical probability of winning that game.C. Only the results from game A align closely with the theoretical probability of winning that game.D. The results from both game B and game C align closely with the theoretical probability of winning those games, while the results from game A do not. An article about an upcoming meteor shower might be written for a magazine about space because meteor showers _____. helpppppppp plzz :))))))