While calculating the costs of products and services, a standard costing system ________. does not keep track of overhead cost traces direct costs to output by multiplying the standard prices or rates by the actual quantities uses standard costs to determine the cost of products allocates overhead costs on the basis of the actual overhead-cost rates

Answers

Answer 1

Answer:

uses standard costs to determine the cost of products

Explanation:

In the case when we determined the cost of the product and its services so here the standard costing system would be used to measure the cost of product as this is the costing system that are based upon the estimated or predicted values and are significant for generating a product


Related Questions

Mervon Company has two operating departments: Mixing and Bottling. Mixing has 330 employees and Bottling has 220 employees. Indirect factory costs include administrative costs of $192,000. Administrative costs are allocated to operating departments based on the number of workers. Determine the administrative costs allocated to each operating department.

Answers

Answer:

Mixing= $115,199.7

Bottling= $76,799.8

Explanation:

First, we need to calculate the allocation rate for Administrative costs:

Allocation rate= total estimated costs for the period/ total amount of allocation base

Allocation rate= 192,000 / (330 + 220)

Allocation rate= $349.09 per employee

Now, we can allocate costs:

Mixing= 330*349.09= $115,199.7

Bottling= 220*349.09= $76,799.8

Interpersonal communication skills are necessary because they allow people _ and weigh the pros and cons of alternatives before coming up with the final solution.



to discuss problems


to make agreement between co-workers easier


to delegate work responsibilities


to resolve legal issues in the company before they hit the media

Answers

I think the correct answer would be discuss problems and the reason

Grey Corp owns 100% of Blue Company. On January 1, 2017 Grey sold Blue a machine for $66,000. Immediately prior to the sale, the machine was recorded on Grey's books at a net book value of $25,000. Prior to the sale, Grey was depreciating the machine on a straight-line basis with 9 years of remaining life and no salvage value. Blue plans to adopt the same depreciation assumptions as Grey. What elimination adjustments with respect to this sale must be made to consolidated net income in 2018 (ignoring income tax effects)

Answers

Answer:

Journal 1 - Eliminate gain on sale :

Debit : Other Income  ($66,000 - $25,000)  $41,000

Credit : Machinery  $41,000

Journal 2 - Eliminate the unrealized profit from the sale :

Debit : Accumulated depreciation  $4,556

Credit : Depreciation $4,556

Explanation:

Grey Corp and Blue Company are in a group of Companies. Grey Corp is the Parent and should prepare Consolidated Financial Statements . Blue Company is a subsidiary (Grey owns more that 50 % of voting rights in Blue Company).

When preparing Consolidated Financial Statements, intragroup transaction must be eliminated. As they happen, a Company trades within its-self that is the reason they should be eliminated.

Concerning the sale of machine by Grey (Parent) to Blue (Subsidiary), we must first eliminate the Income (gain on sale) in Parent as well as the asset that sits in the Subsidiary.

Debit : Other Income  ($66,000 - $25,000)  $41,000

Credit : Machinery  $41,000

Also, we have to eliminate the unrealized profit on the  gain of the asset sold.

Debit : Accumulated depreciation  $4,556

Credit : Depreciation $4,556

Deprecation calculation :

Deprecation = $41,000 ÷ 9 = $4,556

On December 15, 2021, Rigsby Sales Co. sold a tract of land that cost $3,600,000 for $4,500,000. Rigsby appropriately uses the installment sales method of accounting for this transaction. Terms called for a down payment of $500,000 with the balance in two equal annual installments payable on December 15, 2022, and December 15, 2023. Ignore interest charges. Rigsby has a December 31 year-end. In 2022, Rigsby would recognize realized gross profit of:

Answers

Answer:

I have the same gesture

Explanation:

idek

At December 31, 2021 and 2020, P Co. had 58,000 shares of common stock and 5,800 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were declared on either the preferred or common stock in 2021 or 2020. Net income for 2021 was $620,000. For 2021, basic earnings per common share amounted to: (Round your answer to 2 decimal places.)

Answers

Answer:

$10.19 per share

Explanation:

With regards to the above, the basic earnings per common share is seen below;

Preferred dividend = Shares × Par value × Shares percentage

= 5,800 × $100 × 5%

= $29,000

So, basic earning per share = (Net income - Preferred dividend) ÷ Common shares

= ($620,000 - $29,000) ÷ 58,000

= $10.19 per share

Therefore, for 2021, basic earnings per common share amounted to $10.19

Allied Paper Products, Inc., offers a restricted stock award plan to its vice presidents. On January 1, 2021, the company granted 20 million of its $1 par common shares, subject to forfeiture if employment is terminated within two years. The common shares have a market price of $7 per share on the grant date. Required: 1. Determine the total compensation cost pertaining to the restricted shares. 2. Prepare the appropriate journal entries related to the restricted stock through December 31, 2022.

Answers

Answer:

See below

Explanation:

1. Total compensation pertaining to the restricted shares

= Fair value per share × Shares granted

= $7 × 20,000,000

= $140,000,000

Therefore, the total compensation cost pertaining to the restricted shares is $140,000,000

2. Journal entries as at December 31, 2021 (in million dollars)

Dr Compensation expense ($140,000,000 ÷ 2 years) $70

Cr Paid- in capital - restricted stock $70

Journal entries as at December 31, 2022 (in million dollars)

Dr Compensation expense ($140,000,000 ÷ 2 years) $70

Cr Paid in capital - restricted stock $70

Dr Paid in capital restricted stock $140

Cr Common stock (20 million shares × $1 par) $20

Cr Paid in capital in excess of par (remainder) $120

The trial balance for Splish Brothers Inc. appears as follows: Splish Brothers Inc. Trial Balance December 31, 2022 Cash $340 Accounts Receivable 595 Prepaid Insurance 93 Supplies 205 Equipment 4560 Accumulated Depreciation, Equipment $680 Accounts Payable 438 Common Stock 1370 Retained Earnings 1600 Service Revenue 3415 Salaries and Wages Expense 1140 Rent Expense 570 $7503 $7503 If as of December 31, 2022, rent of $171 for December had not been recorded or paid, the adjusting entry would include a: debit to Rent Expense for $171 debit to Rent Payable for $171 credit to Cash for $171. credit to Accumulated Rent for $171.

Answers

Answer:

debit to Rent Expense for $171

Explanation:

The adjusting entry would be

Rent Expense  $171

          To Rent expenses payable $171

(Being Rent expense accounted is recorded)

Here the rent expense is debited as it increased the assets and credited the rent expense payable as it also increased the liabilities

Therefore the a option is correct

ANd, the rest of the options would be wrong

Cost behavior for variable overhead is more difficult to predict than the behavior of direct materials or direct labor cost for all the following reasons except: A. Multiple cost drivers are involved with variable overhead. B. Direct material and direct labor contain no semi-variable component. C. The variable portion of overhead must first be separated from the fixed portion. D. Variable overhead is a relatively small part of total overhead.

Answers

Answer:

D. Variable overhead is a relatively small part of total overhead.

Explanation:

The variable overhead of the cost behavior would become more difficult for estimation as compared with the behavior of direct materials or direct labor for all the given reasons but it should not be valid for the variable overhead that contains small part of the total overhead

Therefore according to the given situation, the option D is correct

In 2020, Bertha Jarow had a $28,000 loss from the sale of a personal residence. She also purchased from an individual inventor for $7,000 (and resold in two months for $18,000) a patent on a rubber bonding process. The patent had not yet been reduced to practice. Bertha purchased the patent as an investment. In addition, she had the following capital gains and losses from stock transactions:

Long-term capital loss ($6,000)
Long-term capital loss carryover from 2019 (12,000)
Short-term capital gain 21,000
Short-term capital loss (7,000)

Required:
What is Bertha's net capital gain or loss?

Answers

Answer:

Bertha has a net long-term capital loss of $ 7,000. Bertha has a net short-term capital gain of $ 14,000 As a result, Bertha has an overall net short-term capital gain of $ 7,000.

Explanation:

Bertha Jarrow had a $28,000 loss from the sale of a personal residence. She also purchased from an individual inventor for $7,000 (and resold in two months for $18,000) a patent on a rubber bonding process. The patent had not yet been reduced to practice. Bertha purchased the patent as an investment. In addition, she had the following capital gains and losses from stock transactions: Long-term capital loss carryover from 2018 ($6,000) (12,000) 21,000 (7,000) Short-term capital gain Short-term capital loss a. What is Bertha's net capital gain or loss? Bertha has a net long-term capital loss of $ 7,000. Bertha has a net short-term capital gain of $ 14,000 As a result, Bertha has an overall net short-term capital gain of $ 7,000.

b. Complete the letter to Bertha, explaining the tax treatment of the sale of her personal residence. Assume Bertha's income from other sources puts her in the 24% bracket. Nellen, Young, Raabe, & Maloney, CPAs 5191 Natorp Boulevard Mason, OH 45040 March 17, 2020, Ms. Bertha Jarow 120 West Street Ashland, OR 97520 Dear Ms. Jarow: This letter is in response to your request for an explanation of the tax treatment of the sale of your residence. As you know, the residence was sold for less than your cost. Thus, you had a $ loss on the residence sale. Because the home was a personal use asset, tax law does not allow that loss to be deducted on your tax return. Thank you for the opportunity to be of service. Please telephone me if you have additional questions.

Several years ago, Westmont Corporation developed a comprehensive budgeting system for planning and control purposes. While departmental supervisors have been happy with the system, the factory manager has expressed considerable dissatisfaction with the information being generated by the system.
A report for the company's Assembly Department for the month of March follows:
Assembly Department
Cost Report
For the Month Ended March 31
Actual Results Planning Budget Variances
Machine-hours 15,000 20,000
Variable costs:
Supplies $9,300 $ 9,900 $600F
Scrap 32,200 34,500 2,300F
Indirect materials 93,800 111,000 17,200F
Fixed costs:
Wages and salaries 77,500 73,000 4,500 U
Equipment depreciation 103,000 103,000 -
Total cost $315,800 $331,400 $15,600F
After receiving a copy of this cost report, the supervisor of the Assembly Department stated, "These reports are super. It makes me feel really good to see how well things are going in my department. I can't understand why those people upstairs complain so much about the reports."
For the last several years, the company's marketing department has chronically failed to meet the sales goals expressed in the company's monthly budgets.
Required:
1. The company's president is uneasy about the cost reports, identify at least two reasons.
2. What kind of reports should be used to give better insight into how well departmental supervisors are controlling costs?
3. Complete the new performance report for the quarter, based on the Flexible Budget Performance approach.
4. Were costs well controlled in March?

Answers

Answer:

Westmont Corporation

1. One reason is that the actual results shows that budget performance was not more than 75% but the actual variable costs were more than 75%.  Two, despite the above, the variance reports show a favorable outcome instead of an unfavorable one.

2. Using a flexible budget report will draw out better insight into the performance of the departmental supervisors and how they are controlling costs.

3. Assembly Department

Cost Report

For the Month Ended March 31

                                       Actual Results Flexible Budget Variances

Machine-hours                           15,000     20,000

Variable costs:

Supplies                                     $9,300     $ 7,425          $1,875 U

Scrap                                          32,200      25,875          6,325 U

Indirect materials                      93,800      83,250         10,550 U

Fixed costs:

Wages and salaries                  77,500       73,000          4,500 U

Equipment depreciation         103,000     103,000        -

Total cost                              $315,800  $292,550     $23,250 U

4. The above report shows that costs were not well controlled in March.  This contrasts with how performance was showed with the planning budget.

Explanation:

a) Data and Calculations:

Assembly Department

Cost Report

For the Month Ended March 31

                                       Actual Results Planning Budget Variances

Machine-hours                           15,000     20,000

Variable costs:

Supplies                                     $9,300     $ 9,900          $600 F

Scrap                                          32,200      34,500          2,300 F

Indirect materials                      93,800       111,000         17,200 F

Fixed costs:

Wages and salaries                  77,500       73,000          4,500 U

Equipment depreciation         103,000     103,000        -

Total cost                              $315,800   $331,400       $15,600 F

Flexing the budget:

Machine-hours                           15,000     20,000

Variable costs:

Supplies                                     $9,900 *15,000/20,000 = $7,425

Scrap                                          34,500 *15,000/20,000 = $25,875

Indirect materials                       111,000 *15,000/20,000 = $83,250

b) The flexible budget of the Assembly Department of Westmont Corporation shows that costs were overrun and overall variance was unfavorable unlike the report presented under the planning budget.

Puget Sound Divers is a company that provides diving services such as underwater ship repairs to clients in the Puget Sound area. The company’s planning budget for May appears below: Puget Sound Divers Planning Budget For the Month Ended May 31 Budgeted diving-hours (q) 350 Revenue ($390.00q) $ 136,500 Expenses: Wages and salaries ($11,100 + $120.00q) 53,100 Supplies ($5.00q) 1,750 Equipment rental ($2,500 + $25.00q) 11,250 Insurance ($4,100) 4,100 Miscellaneous ($520 + $1.42q) 1,017 Total expense 71,217 Net operating income $ 65,283 During May, the company’s actual activity was 340 diving-hours. Required: Prepare a flexible budget for May. (Round your answers to the nearest whole number.)

Answers

Answer:

Puget Sound Divers

Puget Sound Divers Planning and Flexible Budgets

For the Month Ended May 31

                                          Planning      Flexible

                                           Budget       Budget

Budgeted diving-hours (q)    350              340

Revenue ($390.00q)     $ 136,500   $132,600

Expenses:

Wages and salaries            53,100        51,900

Supplies ($5.00q)                 1,750           1,700

Equipment rental                11,250         11,000

Insurance ($4,100)               4,100           4,100

Miscellaneous                      1,017           1,003

Total expense                    71,217        69,703

Net operating income $ 65,283     $ 62,897

Explanation:

a) Data and Calculations:

Puget Sound Divers Planning Budget

For the Month Ended May 31

Budgeted diving-hours (q) 350

Revenue ($390.00q)                            $ 136,500

Expenses:

Wages and salaries ($11,100 + $120.00q) 53,100

Supplies ($5.00q)                                         1,750

Equipment rental ($2,500 + $25.00q)      11,250

Insurance ($4,100)                                       4,100

Miscellaneous ($520 + $1.42q)                   1,017

Total expense                                            71,217

Net operating income                         $ 65,283

Flexing the budget with actual activity of 340:

Revenue ($390.00q) $ 136,500/350 * 340 = $132,600

Expenses:

Wages and salaries ($11,100 + $120.00 * 340) = $51,900

Supplies ($5.00q)                                         1,750/350 * 340 = $1,700

Equipment rental ($2,500 + $25.00 * 340 = $11,000

Miscellaneous ($520 + $1.42 * 340 = $1,003

Which transaction involves a good?
A. Selling desk chairs
B. Washing windows
C. Providing technology support
D. Displaying an advertisement

Answers

Answer:

Providing technology support

Answer:

Explanation:

selling desk chairs, just got it right

A loan of $400,000 is taken out which requires an annual interest payment of 4.4% of the borrowed amount of money (in market dollars). No principal payments are made, only interest is paid. Inflation is 3.8% per year. What will be the value of interest payment at the end of fourth year in real dollars?

Answers

Answer:

payment in real dollars 4 years later = $15,160.84

Explanation:

in current dollars, the interest payment = $400,000 x 4.4% = $17,600

if the inflation rate is 3.8% annual, the value of real dollars will increase by (1 + 3.8%)⁴ - 1 = 1.1609 - 1 = 16.09%

this means that we need to discount the nominal payment by $16.09%;

payment in real dollars 4 years later = $17,600 / (1 + 16.09%) = $15,160.84

PLEASE HELP
Question 6 of 20

Lisa decided to take a walk one Sunday afternoon. During her walk a
neighbor's dog broke away from the leash and attacked Lisa. For months
after the attack, Lisa would not go out of her house because she was so
shaken. Why would Lisa most likely be awarded aggravated damages?
A. Because there were witness to the attack who could prove the
attack was intentional
B. Because the neighbor intentionally let the dog loose to attack her
C. Because she was injured by the dog and had a lot of medical bills
to pay
D. Because the attack traumatized her so much that should couldn't
leave the house

Answers

Answer:

D. because (context clues)(process of illumination) let go back to "5th grade" ... first of all there was no witnesses mentioned in the scenario second were do they come off talking about a bill nothing was mentioned about a bill thirdly they said the dog 'broke Loose' so if it was intentional them he would have been at her door step. so that's why its D. and plus she was "traumatize" so that leads into fear and fear leads into staying away. and to be honest shes a idiot for not addressing the situation around the same month, if she was so traumatize by what happened.

Answer:

D. Because the attack traumatized her so much that should couldn't

leave the houseExplanation:

Many influential economists, politicians, and business leaders think that a shift toward a more integrated and interdependent global economy is a good thing.

a. True
b. False

Answers

Answer:

A) true

Explanation:

Globalization can be regarded as process involving interaction as well as integration that exist among firms, peopl as well as government and companies worldwide. As a result of Globalization national as well as international companies has become stable and increased in competency and thriving in giving their very best in terms of their produced products.quality in technology as well as quality in education and health sector has also been increased as a result of Globalization. It should be noted that Many influential economists, politicians, and business leaders think that a shift toward a more integrated and interdependent global economy is a good thing.

Two or more items are omitted in each of the following tabulations of income statement data. Fill in the amounts that are missing.

2019 2020 2021
Sales revenue $292,090 _________ $413,950
Sales returns and allowances (10,530) (13,790) (17847)
Net sales 281560 345,615 396103
Beginning inventory 19,340 34,400 _________
Ending inventory 34400 43065 49896
Purchases 247720 260,690 297,524
Purchase returns and allowances (4,760) (7,410) (10,070)
Freight-in 8,790 _________ 11,900
Cost of goods sold (236,690) (252735) (292,523)
Gross profit on sales 44,870 92,880 _________

Answers

Answer:

2020:

Sales revenue = Net Sales + Sales returns

= 345,615 + 13,790

= $359,405

Freight-In = Cost of goods sold - Beginning inventory - Purchases + Purchase returns + Ending inventory

= 252,735 - 34,400 - 260,690 + 43,065 + 7,410

= $8,120

2021:

Beginning inventory = Ending inventory 2020 = $43,065

Gross Profit on sales = Net sales - Cost of goods sold

= 396,103 - 292,523

= $103,580

Selling Something People Could Get for FREE". Is it possible? Comment with example.

Answers

Answer:

yes its possible. You could sell dirt

location analysis has been narrowed down to two locations, Akron and Boston. The main factors in the decision will be the supply of raw materials, which has a weight of 0.50, transportation cost, which has a weight of 0.40, and labor cost, which has a weight of 0.10. The scores for raw materials, transportation, and labor are for Akron 60, 80, and 70, respectively; for Boston 70, 50, and 90, respectively. Given this information and a minimum acceptable composite score of 75, we can say that the manager should:____.
a. build a plant in both cities.
b. be indifferent between these locations.
c. choose Boston.
d. choose Akron.
e. reject both locations.

Answers

Answer:

e. reject both locations.

Explanation:

Akron's weighted score:

supply of raw materials = 0.5 x 60 = 30

transportation costs = 0.4 x 80 = 32

labor costs = 0.1 x 70 = 7

total composite score = 69

Boston's weighted score:

supply of raw materials = 0.5 x 70 = 35

transportation costs = 0.4 x 50 = 20

labor costs = 0.1 x 90 = 9

total composite score = 64

rdan Corporation expects to incur indirect overhead costs of $172,550 per month and direct manufacturing costs of $18 per unit. The expected production activity for the first four months of the year are as follows. January February March April Estimated production in units 5,300 7,300 4,800 6,400 Required Calculate a predetermined overhead rate based on the number of units of product expected to be made during the first four months of the year. Allocate overhead costs to each month using the overhead rate computed in Requirement a. Calculate the total cost per unit for each month using the overhead allocated in Requirement b.

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Total estimated overhead costs= (172,550*4)= $690,200

Total estimated units= 23,800

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 690,200 / 23,800

Predetermined manufacturing overhead rate= $29 per unit

Now, we can allocate overhead to each month:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

January= 29*5,300= $153,700

February= 7,300*29= $211,700

March= 29*4,800= $139,200

April= 29*6,400= $185,600

Finally, the unitary total cost:

Unitary cost= 18 + 29= $47

Harlen Company is involved in a competitive bidding situation. The following costs are anticipated for a project to be bid with the City of Crimson:
Direct material $340,000
Direct labor 610,000
Allocated variable overhead 420,000
Allocated fixed cost 110,000
Which of the following cost figures should be used in setting a minimum bid price if Harlen has excess capacity?
A. $530,000.
B. $950,000.
C. $1,370,000.
D. $1,480,000.
E. None of the answers is correct.

Answers

Answer:

C. $1,370,000

Explanation:

Calculation to determine the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity

Direct material $340,000

Direct labor $610,000

Allocated variable overhead $420,000

Minimum bid price $1,370,000

($340,000+$610,000+$420,000)

Therefore the cost figures that should be used in setting a minimum bid price if Harlen has excess capacity is $1,370,000

Harley-Davidson motorcycle owners, who pay a price premium for their motorbikes, have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. Based on these factors, these owners are deriving which types of value from the Harley-Davidson brand

Answers

Answer:

Experiential and social value

Explanation:

From the question we are informed about Harley-Davidson motorcycle owners, who pay a price premium for their motorbikes, and have formed the Harley Owners Group (HOGs), whose members take motorcycle rides and road trips together. These owners also derive satisfaction by being able to express their individuality and nonconformity through the Harley bikes that they own. In this case, Based on these factors, these owners are deriving Experiential and social value

from the Harley-Davidson brand.

Experiential value can be regarded as values that comes from perception of the customers that comes directly or indirectly from him/ her as a result of his/ her experience about the product/service. Social value on the other hand can be regarded as quantification of relative importance that is been placed by people on changes that comes their way or experience in their daily lives.

Vaughn Company manufactures equipment. Vaughn’s products range from simple automated machinery to complex systems containing numerous components. Unit selling prices range from $200,000 to $1,500,000 and are quoted inclusive of installation. The installation process does not involve changes to the features of the equipment and does not require proprietary information about the equipment in order for the installed equipment to perform to specifications. Vaughn has the following arrangement with Winkerbean Inc.
Winkerbean purchases equipment from Vaughn for a price of $920,000 and contracts with Vaughn to install the equipment. Vaughn charges the same price for the equipment irrespective of whether it does the installation or not. The cost of the equipment is $644,000.
Winkerbean is obligated to pay Vaughn the $920,000 upon the delivery and installation of the equipment. Vaughn delivers the equipment on June 1, 2020, and completes the installation of the equipment on September 30, 2020. The equipment has a useful life of 10 years. Assume that the equipment and the installation are two distinct performance obligations which should be accounted for separately.
Assuming Vaughn does not have market data with which to determine the standalone selling price of the installation services. As a result, an expected cost plus margin approach is used. The cost of installation is $35,700; Vaughn prices these services with a 30% margin relative to cost.
How should the transaction price of $920,000 be allocated among the service obligations?
Equipment $
Installation $

Answers

Answer: See explanation

Explanation:

The transaction price of $920,000 should be allocated among the service obligations as thus:

For Equipment:

= Fair value of equipment / Total fair value × Transaction price

= (920000 / (920000 + 276000) × 920000

= (920000 / 1196000) × 920000

= $707692

Installation:

= Fair value of installation / Total fair value × Transaction price

= 276000 / (920000 + 276000) × 920000

= (276000 / 1196000) × 920000

= $212308

Bella Donna Company has 100,000 shares of $2 par common stock issued and outstanding as of January 1, 2018. The shares were originally issued for $8 per share. On February 3, 2018, Bella Donna repurchased 3,590 shares at $6 per share for the purposes of retiring them. What will be the balance in Paid in capital in excess of par after February 3rd transaction?

Answers

Answer:

$585,640

Explanation:

Paid in capital in excess of on January 1 , 2018

= 100,000 × ($8 - $2)

= $100,000 × $6

= $600,000

Paid in capital in excess of par on repurchased share for retiring

= 3,590 × ($6 - $2)

= 3,590 × $4

= $14,360

Therefore,

Balance in paid in capital in excess of par after February 3rd transaction

= $600,000 - $14,360

= $585,640

In the history of product liability, the rights of produces and consumers have

a.
favored producers.

b.
favored consumers.

c.
remained nuetral.

d.
None of the above

Answers

Answer:

a

Explanation:

Exercise 13-06 a-b Here are the comparative income statements of Sarasota Corp.. SARASOTA CORP. Comparative Income Statement For the Years Ended December 31 2020 2019 Net sales $588,000 $490,000 Cost of goods sold 449,820 402,780 Gross Profit 138,180 87,220 Operating expenses 85,260 46,550 Net income $ 52,920 $ 40,670 (a) Prepare a horizontal analysis of the income statement data for Sarasota Corp., using 2019 as a base

Answers

Answer:

Horizontal Analysis of the Income Statement

For the Year Ended December 31, 2020:

                                                        Percentage

                                                          Increase

Net sales                   $588,000         20%

Cost of goods sold     449,820         11.68%

Gross Profit                   138,180         58.43%

Operating expenses    85,260         83.16%

Net income               $ 52,920         30.12%

Explanation:

a) Data and Calculations:

SARASOTA CORP.

Comparative Income Statement

For the Years Ended December 31  

                                        2020                  2019             Increase

Net sales                   $588,000             $490,000       $98,000

Cost of goods sold     449,820                402,780          47,040

Gross Profit                   138,180                  87,220         50,960

Operating expenses    85,260                  46,550          38,710

Net income               $ 52,920               $ 40,670          12,250

Net Sales increase = $98,000/$490,000 * 100 = 20%

Cost of goods sold = $47,040/$402,780 * 100 = 11.68%

Gross profit = $50,960/$87,220 * 100 = 58.43%

Operating expenses = $38,710/$46,550 * 100 = 83.16%

Net Income = $12,250/$40,670 * 100 = 30.12%

b) Horizontal Analysis (%) = [(Amount in 2020 – Amount in 2019) / Amount in 2019] * 100.  The analysis records the growth trend between the elements of the base year and the comparison year.

Alex is an avid ornithologist and bird-watcher. He received a tweet from a colleague that the "pink-tufted warbler," a rare and exotic bird, was sighted only ten miles away from his workplace in a remote area. Disregarding the signs indicating "Private Road" and "Private Property", Alex drives to the site.

Answers

Answer:

trespass to land

Explanation:

You are called by Tim Duncan of Spurs Co. on July 16 and asked to prepare a claim for insurance as a result of a theft that took place the night before. You suggest that an inventory be taken immediately. The following data are available.
Inventory, July 1 $41,010
Purchases-goods placed in stock July 1-15 90,490
Sales revenue-goods delivered to customers (gross) $119,400
Sales returns-goods returned to stock $3,960
Your client reports that the goods on hand on July 16 cost $33,210, but you determine that this figure includes goods of $7,170 received on a consignment basis. Your past records show that sales are made at approximately 40% over cost. Duncan's insurance covers only goods owned.
Compute the claim against the insurance company.

Answers

Answer:

$23,003

Explanation:

Computation for the claim against the insurance company.

Using this formula

Claim against insurance company = Total cost of goods available for sales - Cost of goods sold - Owned inventory on hand on July 16

Let plug in the formula

Claim against insurance company= ($41,010 + 90,490) - [($119,400 - $3,960)*100/140)] - ($33,210- $7,170)

Claim against insurance company= $131,500 - $82,457 - $26,040

Claim against insurance company= $23,003

Therefore the claim against the insurance company is $23,003

Trew Company plans to issue bonds with a face value of $909,000 and a coupon rate of 6 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds are sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar.)
Determine the issuance price of the bonds assuming an annual market rate of interest of 8.5 percent.
Issuance price

Answers

Answer:

$757,943

Explanation:

face value = $909,000

maturity = 10 years x 2 = 20 periods

coupon rate = 6% / 2 = 3%

coupon = $27,270

YTM = 8.5% / 2 = 4.25%

using a financial calculator, the PV of the bonds = $757,943

Dr Cash 757,943

Dr Discount on bonds payable 151,057

    Cr Bonds payable 909,000

Why is compound interest preferable to simple interest?
Compound interest pays at least double the interest on the principal
Compound interest is paid by the week or by the month, not only on
O Compound interest is based on the entire principal, not just a percer
O Compound interest pays interest on the principal and the interest ea

Answers

Answer:

Compound Interest, when it comes to investing, compound interest is better since it allows funds to grow at a faster rate than they would in an account with a simple interest rate. Compound interest comes into play when you're calculating the annual percentage yield.

Explanation:

I hope this helped a lot bro. Hope you make a 100 on your test or quiz. Can I get brainiest.

Answer:

D.) Compound interest pays interest both on the principal and the interest earned in each period.

Explanation:

On Edg

Stockholders of Hudson Enterprises recently received an annual dividend of $2.50 per share. Three analysts are trying to determine the value of this stock based on expected future dividends. Each analyst uses a required return of 14%. Use appropriate dividend valuation models to find the value of Hudson stock under each of the following sets of assumptions:

a. Analyst A assumes dividends will remain constant at $2.50 for the indefinite future. Show D0, D1, r, g and Analyst A's price.
b. Analyst B assumes dividends will grow at a constant rate of 7% per year for the indefinite future. Show D0, D1, r, g and Analyst B's price.
c. Analyst C assumes dividends will grow at 14% for the next 2 years and will thereafter grow at a constant rate of 7% for the indefinite future. Show D0, D1, D2, D3, r, g and Analyst C's price.
d. Analyst D uses the market multiple approach to value a company's stock. Hudson has had an average P/E of 15 and an average P/S of 2 over the last few years. Earnings per share of $3 and sales per share of $20 are forecast for next year. What is Analyst D's price based on earnings? Based on Sales?

Answers

honestly bro, just drop out
Other Questions
The sum of two numbers is 22. Three times one number increased by five is the same as twice the other number decreased by four. What is the LARGER of the two numbers? Compared to other states, texas has some of the strictest laws dealing with lobbying from former government officials.a. Trueb. False What are the 3 characteristics of an NGO? Disney has invested over $1 billion in big data technology to identify the best way to provide customer service. This is a characteristic of ________ culture.Multiple Choicemarketclanhierarchyadhocracyflexible What techniques does Melville use to characterize Ahab? which of the following is the first step perfomed after the blood colection bag is filled during a plasma collection? Emily is going to use a computer at an internet cafe. The cafe charges an initial fee to use the computer and then an additional price per minute of usage. An equation representing the total cost of using a computer for t minutes at the internet cafe is given by C=9+0.50t . What is the slope of the equation and what is its interpretation in the context of the problem? Thalamic neurons that project to the primary sensory cortex are ________ neurons.A) receptorB) first-orderC) second-orderD) third-orderE) fourth-order How do you graph 4 lines? A simplistic definition of crime is that it is anything that violates criminal law. A more complex definition would characterize it as a/an ________ event arising out of an intricate social nexus that involves a variety of participants. What do the animals destroy after the humans were kicked off the farm in Chapter 2? How do you do linear graphs in math? To determine the expiration date of the last annual aircraft inspection, a person should refer to theA- airworthiness certificateB- registration certificateC- aircraft maintenance records which of the following policies is primarily focused on the general welfare of a country's citizens? which of the following policies is primarily focused on the general welfare of a country's citizens? social policy transportation economic policy public health policy criminal justice policy How do you find the sum of numbers from 1 to 100 in Java? select all the true statements. if vertical angles are congruent, then two lines cut by a transversal are parallel. if two parallel lines are cut by a transversal, then corresponding angles are congruent. if two parallel lines are cut by a transversal, then alternate interior angles are congruent. points on a perpendicular bisector of a line segment are equidistant from the segments endpoints. points on a perpendicular bisector of a line segment are never equidistant from the segments endpoints. 15 m50 mBXA30 mRaKY18 mAssuming that figure A is the original figure,state the scale factor. Write your answer asa simplified fraction. which of the statements below correctly describes an achiral molecule? group of answer choices the molecule might be a meso form. the molecule exhibits optical activity when it interacts with plane-polarized light. none of the above the molecule has a nonsuperimposable mirror image. the molecule has an enantiomer. Is the equation 3x 7y 13 a linear equation in 2variables? The ages of pennies at a particular bank follow a nearly normal distribution with mean 10.44 years with standard deviation 9.2 years. Say you take random samples of 30 pennies, find the mean age in each sample, and plot the distribution of these means. Which of the following are the best estimates for the center and spread of this distribution? O mean = 10.44, standard error = 9.2 O mean = 10.44, standard error 9.2/30 = 0.31 O mean = 10.44/30 = 0.348, standard error (9.2/30)2 = 0.094 O mean = 10.44, standard error = 9.2/V30 = 1.68